<SEC-DOCUMENT>0001161697-16-001089.txt : 20160928
<SEC-HEADER>0001161697-16-001089.hdr.sgml : 20160928
<ACCEPTANCE-DATETIME>20160928173043
ACCESSION NUMBER:		0001161697-16-001089
CONFORMED SUBMISSION TYPE:	1-SA
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20160630
FILED AS OF DATE:		20160928
DATE AS OF CHANGE:		20160928

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GENERATION INCOME PROPERTIES, INC.
		CENTRAL INDEX KEY:			0001651721
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		IRS NUMBER:				474427295
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		1-SA
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	24R-00019
		FILM NUMBER:		161907865

	BUSINESS ADDRESS:	
		STREET 1:		400 NORTH TAMPA STREET
		STREET 2:		SUITE 2660
		CITY:			TAMPA
		STATE:			FL
		ZIP:			33602
		BUSINESS PHONE:		(813)282-6000

	MAIL ADDRESS:	
		STREET 1:		400 NORTH TAMPA STREET
		STREET 2:		SUITE 2660
		CITY:			TAMPA
		STATE:			FL
		ZIP:			33602
</SEC-HEADER>
<DOCUMENT>
<TYPE>1-SA
<SEQUENCE>1
<FILENAME>form1sa.htm
<DESCRIPTION>FORM 1-SA SEMIANNUAL REPORT FOR 06-30-2016
<TEXT>
<HTML>
<HEAD>
<TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">
<DIV style="width:720px">
<BR>
<P style="margin:0px" align=center><B>UNITED STATES</B></P>
<P style="margin:0px" align=center><B>SECURITIES AND EXCHANGE COMMISSION</B></P>
<P style="margin:0px" align=center><B>Washington, D.C. 20549</B></P>
<P style="margin:0px" align=center>&nbsp;</P>
<P style="margin:0px" align=center><B>FORM 1-SA</B></P>
<P style="margin:0px" align=center>&nbsp;</P>
<P style="margin:0px" align=center><B>REGULATION A OFFERING STATEMENT</B></P>
<P style="margin:0px" align=center><B>UNDER THE SECURITIES ACT OF 1933</B></P>
<P style="margin:0px">&nbsp;</P>
<P style="margin:0px">&nbsp;</P>
<P style="margin:0px">&nbsp;</P>
<TABLE style="margin-top:0px; font-size:10pt" cellpadding=0 cellspacing=0><TR height=0 style="font-size:1pt"><TD width=178.4 ></TD><TD width=34.467 ></TD><TD width=36.4 ></TD><TD width=163.2 ></TD><TD width=36.267 ></TD><TD width=238.133 ></TD><TD width=33.133 ></TD></TR>
<TR><TD style="margin-top:0px" width=212.867 colspan=2><P style="margin:0px">This Form 1-SA is to provide an</P>
</TD><TD style="margin-top:0px; border:1px solid #000000" width=36.4><P style="margin:0px; color:#0000FF" align=center>X</P>
</TD><TD style="margin-top:0px" width=163.2><P style="margin:0px">&nbsp;&nbsp;Semi-Annual Report OR</P>
</TD><TD style="margin-top:0px; border:1px solid #000000" width=36.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" width=271.267 colspan=2><P style="margin:0px">&nbsp;&nbsp;Special Financial Report for the</P>
</TD></TR>
<TR><TD style="margin-top:0px" width=178.4><P style="margin:0px">semi-annual period ended</P>
</TD><TD style="margin-top:0px; border-bottom:1.333px solid #000000" valign=bottom width=508.467 colspan=5><P style="margin:0px; color:#0000FF">06/30/2016</P>
</TD><TD style="margin-top:0px" width=33.133><P style="margin:0px">&nbsp;</P>
</TD></TR>
</TABLE>
<P style="margin:0px">&nbsp;</P>
<P style="margin:0px">&nbsp;</P>
<P style="margin:0px">&nbsp;</P>
<TABLE style="margin-top:0px; font-size:10pt" cellpadding=0 cellspacing=0><TR height=0 style="font-size:1pt"><TD width=252 ></TD><TD width=36 ></TD><TD width=72 ></TD><TD width=360 ></TD></TR>
<TR><TD style="margin-top:0px" width=360 colspan=3><P style="margin:0px">Exact name of issuer as specified in the issuer&rsquo;s charter:</P>
</TD><TD style="margin-top:0px; border-bottom:1.333px solid #000000" valign=bottom width=360><P style="margin:0px; color:#0000FF">Generation Income Properties, Inc.</P>
</TD></TR>
<TR><TD style="margin-top:0px" width=720 colspan=4><P style="margin:0px">&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px" width=288 colspan=2><P style="margin:0px">Jurisdiction of incorporation/organization:</P>
</TD><TD style="margin-top:0px; border-bottom:1.333px solid #000000" valign=bottom width=432 colspan=2><P style="margin:0px; color:#0000FF">Maryland</P>
</TD></TR>
<TR><TD style="margin-top:0px" width=720 colspan=4><P style="margin:0px">&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px" width=252><P style="margin:0px">I.R.S. Employer Identification Number:</P>
</TD><TD style="margin-top:0px; border-bottom:1.333px solid #000000" valign=bottom width=468 colspan=3><P style="margin:0px; color:#0000FF">47-4427295</P>
</TD></TR>
</TABLE>
<P style="margin:0px">&nbsp;</P>
<P style="margin:0px">&nbsp;</P>
<P style="margin:0px">&nbsp;</P>
<TABLE style="margin-top:0px; font-size:10pt" cellpadding=0 cellspacing=0><TR height=0 style="font-size:1pt"><TD width=228 ></TD><TD width=492 ></TD></TR>
<TR><TD style="margin-top:0px" width=228><P style="margin:0px"><FONT style="background-color:#FFFFFF">Address of Principal Executive Offices:</FONT></P>
</TD><TD style="margin-top:0px; border-bottom:1.333px solid #000000" valign=bottom width=492><P style="margin:0px; color:#0000FF">400 NORTH TAMPA STREET, SUITE 2660, TAMPA, FLORIDA&nbsp; 33602</P>
</TD></TR>
</TABLE>
<P style="margin:0px">&nbsp;</P>
<TABLE style="margin-top:0px; font-size:10pt" cellpadding=0 cellspacing=0><TR height=0 style="font-size:1pt"><TD width=432 ></TD><TD width=288 ></TD></TR>
<TR><TD style="margin-top:0px" valign=top width=432><P style="margin:0px">Title of each class of securities issued pursuant to Regulation A:</P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF; border-bottom:1px solid #000000" valign=top width=288><P style="margin:0px; color:#0000FF">Common Shares</P>
</TD></TR>
</TABLE>
<P style="margin:0px">&nbsp;</P>
<P style="margin:0px">&nbsp;</P>
<P style="margin:0px">&nbsp;</P>
<P style="margin:0px"><B>Summary Information Regarding Prior Offerings and Proceeds</B></P>
<P style="margin:0px">&nbsp;</P>
<P style="margin:0px">&nbsp;</P>
<P style="margin:0px; text-align: justify">The following information must be provided for any Regulation A offering that has terminated or completed prior to the filing of this Form 1-SA, unless such information has been previously reported in a manner permissible under Rule 257. If such information has been previously reported, check this box&nbsp;&nbsp;&nbsp;<FONT style="margin-bottom:1.333px; padding-top:1.333px; color:#0000FF; border:1px solid #000000"> X </FONT>&nbsp;&nbsp;&nbsp;and leave the rest of Part I blank.</P>
<P style="margin:0px">&nbsp;</P>

<HR noshade align="center" width="100%" size="2"><p style='page-break-before:always'></p><PAGE><BR>

<P style="margin:0px; font-size:14pt" align=center><B>UNITED STATES</B></P>
<P style="margin:0px; font-size:14pt" align=center><B>SECURITIES AND EXCHANGE COMMISSION</B></P>
<P style="margin:0px" align=center><B>Washington, D.C. 20549</B></P>
<P style="margin:0px" align=center>&nbsp;</P>
<P style="margin:0px" align=center>&nbsp;</P>
<P style="margin:0px; font-size:14pt" align=center><B>FORM 1-SA</B></P>
<P style="margin:0px" align=center>&nbsp;</P>
<P style="margin:0px" align=center><B>SEMIANNUAL REPORT PERSUANT PURSUANT TO REGULATION A </B></P>
<P style="margin:0px" align=center>&nbsp;</P>
<P style="margin:0px" align=center>&nbsp;</P>
<P style="margin:0px" align=center><B>For the fiscal semiannual period ended:</B></P>
<P style="margin:0px" align=center><B>June 30, 2016</B></P>
<P style="margin:0px" align=center>&nbsp;</P>
<P style="margin:0px" align=center>&nbsp;</P>
<P style="margin:0px; font-size:14pt" align=center><B>GENERATION INCOME PROPERTIES, INC.</B></P>
<P style="margin:0px" align=center>(Exact name of registrant as specified in its charter)</P>
<P style="margin:0px" align=center>&nbsp;</P>
<P style="margin:0px" align=center>&nbsp;</P>
<P style="margin:0px" align=center>Commission File Number:<B> </B>024-10481</P>
<P style="margin:0px" align=center>&nbsp;</P>
<P style="margin:0px" align=center>&nbsp;</P>
<TABLE style="margin-top:0px; font-size:10pt" cellpadding=0 cellspacing=0><TR height=0 style="font-size:1pt"><TD width=360 ></TD><TD width=360 ></TD></TR>
<TR><TD style="margin-top:0px" valign=bottom width=360><P style="margin:0px" align=center><B>Maryland</B></P>
</TD><TD style="margin-top:0px" valign=bottom width=360><P style="margin:0px" align=center><B>47-4427295</B></P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=bottom width=360><P style="margin:0px" align=center>(State or other jurisdiction of<BR>
incorporation or organization)</P>
</TD><TD style="margin-top:0px" valign=bottom width=360><P style="margin:0px" align=center>(I.R.S. Employer<BR>
Identification No.)</P>
</TD></TR>
</TABLE>
<P style="margin:0px" align=center>&nbsp;</P>
<P style="margin:0px" align=center>&nbsp;</P>
<P style="margin:0px" align=center><B>400 North Tampa Street, Suite 2660</B></P>
<P style="margin:0px" align=center><B>Tampa, FL 33602</B></P>
<P style="margin:0px" align=center><B>Telephone: (813)-282-6000</B></P>
<P style="margin:0px" align=center>(Address, and telephone number of principal executive offices)</P>
<P style="margin:0px" align=center>&nbsp;</P>
<P style="margin:0px" align=center>&nbsp;</P>
<P style="margin:0px" align=center>&nbsp;</P>
<P style="margin:0px" align=center>&nbsp;</P>
<P style="margin:0px" align=center>&nbsp;</P>
<P style="margin:0px" align=center>&nbsp;</P>
<P style="margin:0px" align=center><B>with copies to:</B></P>
<P style="margin:0px" align=center><B>&nbsp;</B></P>
<P style="margin:0px" align=center><B>Dan Mirman, Esq.</B></P>
<P style="margin:0px" align=center><B>Everett &amp; Everett, PLLC</B></P>
<P style="margin:0px" align=center><B>157 Columbus Avenue, 4<SUP>th</SUP> Floor</B></P>
<P style="margin:0px" align=center><B>New York, NY 10023</B></P>
<P style="margin:0px" align=center><B>Telephone: (212) 300-6104</B></P>
<P style="margin:0px" align=center>&nbsp;</P>
<P style="margin:0px" align=center>&nbsp;</P>
<P style="margin:0px" align=center>&nbsp;</P>

<HR noshade align="center" width="100%" size="2"><p style='page-break-before:always'></p><PAGE><BR>

<P style="margin:0px; text-align: justify"><B>Item 1.&nbsp;&nbsp;&nbsp;Management&rsquo;s Discussion and Analysis of Financial Condition and Results of Operations</B></P>
<P style="margin:0px; text-align: justify"><BR></P>
<P style="margin:0px; text-align: justify"><I>You should read the following discussion and analysis of our financial condition and results of operations together with our consolidated financial statements and the related notes and other financial information included elsewhere in the offering circular and the amendments and supplements thereto. Some of the information contained in this discussion and analysis, including information with respect to our plans and strategy for our business, includes forward-looking statements that involve risks and uncertainties. You should review the &ldquo;Risk Factors&rdquo; section of the offering circular for a discussion of important factors that could cause actual results to differ materially from the results described in or implied by the forward-looking statements contained in the following discussion and analysis.</I></P>
<P style="margin:0px; text-align: justify"><BR></P>
<P style="margin:0px; text-align: justify"><B>Overview</B></P>
<P style="margin:0px; text-align: justify"><BR></P>
<P style="margin:0px; text-align: justify">We are an internally managed, newly formed Maryland corporation focused on acquiring retail, office and industrial net lease properties located primarily in major United States cities, with an emphasis on the major coastal markets. &nbsp;We intend to invest primarily in freestanding, single-tenant commercial retail, office and industrial properties net leased to investment grade tenants. &nbsp;We will seek geographic diversity in our investments, although attractive opportunities will be more important than geographic mix in our investment activity. We currently do not own any net lease properties and have no properties under contract.</P>
<P style="margin:0px; text-align: justify"><BR></P>
<P style="margin:0px; text-align: justify">We intend to acquire properties that we can lease to tenants under net leases. A net lease is a type of lease in which the tenant is generally responsible for all costs and expenses related to the use and operation of the property, such as the cost of repairs, maintenance, property taxes, utilities, insurance and other operating costs, in addition to the tenant&rsquo;s regular monthly rent.</P>
<P style="margin:0px; text-align: justify"><BR></P>
<P style="margin:0px; text-align: justify"><B>Results of Operations</B></P>
<P style="margin:0px; text-align: justify"><BR></P>
<P style="margin:0px; text-align: justify">We have not yet generated revenues and do not expect to do so until after we begin acquiring real estate. &nbsp;The Company will commence its acquisition of net lease real estate after completion of our offering under Regulation A.</P>
<P style="margin:0px; text-align: justify"><BR></P>
<P style="margin:0px; text-align: justify">For the first six months ended June 30, 2016, we had operating expenses of $75,818 compared to $746.00 for the first six months ended June 30, 2015. &nbsp;Operating expense for the period were primarily comprised of legal, accounting, and marketing expenses related to the Company&rsquo;s offering under Regulation A.</P>
<P style="margin:0px; text-align: justify"><BR></P>
<P style="margin:0px; text-align: justify"><B>Liquidity and Capital Resources</B></P>
<P style="margin:0px; text-align: justify"><BR></P>
<P style="margin:0px; text-align: justify">We had net cash of $482,361 for the period ending June 30, 2016 and $448.00 for the period ending December 31, 2015. Net cash for the current period is from the proceeds of capital raised by the Company, which fully commenced in May 2016.</P>
<P style="margin:0px; text-align: justify"><BR></P>
<P style="margin:0px; text-align: justify">In September 2015, we filed an offering statement pursuant to Regulation A of the Securities Act of 1933, which was qualified by the Securities and Exchange Commission on February 29, 2016. &nbsp;We are offering 4,000,000 shares of common stock on a &ldquo;best efforts&rdquo; basis, at a price of $5.00 per share. </P>
<P style="margin:0px; text-align: justify"><BR></P>
<P style="margin:0px; text-align: justify"><BR></P>
<P style="margin:0px; text-align: justify"><B>Item 2.&nbsp;&nbsp;&nbsp;Other Information</B></P>
<P style="margin:0px; text-align: justify"><BR></P>
<P style="margin:0px; text-align: justify">None.</P>
<P style="margin:0px; text-align: justify"><BR></P>

<P style="margin:0px" align=center>- 1 -</P>

<HR noshade align="center" width="100%" size="2"><p style='page-break-before:always'></p><PAGE><BR>

<P style="margin:0px"><B>Item 3.&nbsp;&nbsp;&nbsp;Financial Statements</B></P>
<P style="margin:0px">&nbsp;</P>
<P style="margin:0px" align=center><B>Generation Income Properties, Inc.</B></P>
<P style="margin:0px" align=center>&nbsp;</P>
<P style="margin:0px" align=center><B>Index to Consolidated Financial Statements</B></P>
<P style="margin:0px">&nbsp;</P>
<P style="margin:0px">&nbsp;</P>
<TABLE style="margin-top:0px; font-size:10pt" cellpadding=0 cellspacing=0><TR height=0 style="font-size:1pt"><TD width=624 ></TD><TD width=96 ></TD></TR>
<TR><TD style="margin-top:0px" valign=top width=624><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=top width=96><P style="margin:0px; margin-right:6.733px" align=center>Page</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=624><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=96><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCEEFF" valign=top width=624><P style="margin:0px; margin-right:6.733px">Balance Sheet as of June 30, 2016 and December 31, 2015</P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=top width=96><P style="margin:0px; margin-right:6.733px" align=center>3</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=624><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=96><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCEEFF" valign=top width=624><P style="margin:0px; margin-right:6.733px">Statement of Operations &ndash; For Six-Month Periods Ended June 30, 2016 to June 30, 2015</P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=top width=96><P style="margin:0px; margin-right:6.733px" align=center>4</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=624><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=96><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCEEFF" valign=top width=624><P style="margin:0px; margin-right:6.733px">Statement of Stockholders&rsquo; Equity &ndash; For Six-Month Period Ended June 30, 2016 and the Year<BR>
ended December 31, 2015 (audited)
</P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=top width=96><P style="margin:0px; margin-right:6.733px" align=center>5</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=624><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=96><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCEEFF" valign=top width=624><P style="margin:0px; margin-right:6.733px">Statement of Cash Flows &ndash; For Six-Month Periods Ended June 30, 2016 and June 30, 2015</P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=top width=96><P style="margin:0px; margin-right:6.733px" align=center>6</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=624><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=96><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCEEFF" valign=top width=624><P style="margin:0px; margin-right:6.733px">Notes to the Financial Statements</P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=top width=96><P style="margin:0px; margin-right:6.733px" align=center>7-9</P>
</TD></TR>
</TABLE>
<P style="margin:0px"><BR></P>

<P style="margin:0px" align=center>- 2 -</P>

<HR noshade align="center" width="100%" size="2"><p style='page-break-before:always'></p><PAGE><BR>

<P style="margin:0px" align=center><B>Generation Income Properties, Inc.</B></P>
<P style="margin:0px" align=center><B>&nbsp;</B></P>
<P style="margin:0px" align=center><B>Consolidated Balance Sheet</B></P>
<P style="margin:0px" align=center><B>&nbsp;</B></P>
<P style="margin:0px" align=center><B>As of June 30, 2016 (unaudited) and December 31, 2015 (audited)</B></P>
<P style="margin:0px">&nbsp;</P>
<P style="margin:0px">&nbsp;</P>
</DIV><TABLE style="margin-top:0px; font-size:10pt" cellpadding=0 cellspacing=0><TR height=0 style="font-size:1pt"><TD width=469.2 ></TD><TD width=14.4 ></TD><TD width=14.867 ></TD><TD width=82 ></TD><TD width=14.533 ></TD><TD width=14.667 ></TD><TD width=14.667 ></TD><TD width=81.733 ></TD><TD width=14.4 ></TD></TR>
<TR><TD style="margin-top:0px; border-top:2px solid #000000" valign=bottom width=469.2><P style="margin:0px">&nbsp;</P>
</TD><TD style="margin-top:0px; border-top:2px solid #000000" valign=bottom width=14.4><P style="margin:0px">&nbsp;</P>
</TD><TD style="margin-top:0px; border-top:2px solid #000000" valign=bottom width=96.867 colspan=2><P style="margin:0px" align=center>Unaudited</P>
</TD><TD style="margin-top:0px; border-top:2px solid #000000" valign=bottom width=14.533><P style="margin:0px">&nbsp;</P>
</TD><TD style="margin-top:0px; border-top:2px solid #000000" valign=bottom width=14.667><P style="margin:0px">&nbsp;</P>
</TD><TD style="margin-top:0px; border-top:2px solid #000000" valign=bottom width=96.4 colspan=2><P style="margin:0px" align=center>Audited</P>
</TD><TD style="margin-top:0px; border-top:2px solid #000000" valign=bottom width=14.4><P style="margin:0px">&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px; border-bottom:2px solid #000000" valign=bottom width=469.2><P style="margin:0px">&nbsp;</P>
</TD><TD style="margin-top:0px; border-bottom:2px solid #000000" valign=bottom width=14.4><P style="margin:0px"><B>&nbsp;</B></P>
</TD><TD style="margin-top:0px; border-bottom:2px solid #000000" valign=bottom width=96.867 colspan=2><P style="margin:0px" align=center><B>June 30, 2016</B></P>
</TD><TD style="margin-top:0px; border-bottom:2px solid #000000" valign=bottom width=14.533><P style="margin:0px"><B>&nbsp;</B></P>
</TD><TD style="margin-top:0px; border-bottom:2px solid #000000" valign=bottom width=14.667><P style="margin:0px"><B>&nbsp;</B></P>
</TD><TD style="margin-top:0px; border-bottom:2px solid #000000" valign=bottom width=96.4 colspan=2><P style="margin:0px" align=center><B>Dec. 30, 2015</B></P>
</TD><TD style="margin-top:0px; border-bottom:2px solid #000000" valign=bottom width=14.4><P style="margin:0px"><B>&nbsp;</B></P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=bottom width=469.2><P style="margin:0px">&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=96.867 colspan=2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=14.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=14.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=96.4 colspan=2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=469.2><P style="margin:0px"><FONT style="background-color:#CCEEFF"><B>Assets</B></FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=82><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=81.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=469.2><P style="margin:0px; margin-left:12px"><FONT style="background-color:#FFFFFF">Cash</FONT></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.867><P style="margin:0px"><FONT style="background-color:#FFFFFF">$</FONT></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=82><P style="margin:0px" align=right><FONT style="background-color:#FFFFFF">482,361</FONT></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.667><P style="margin:0px"><FONT style="background-color:#FFFFFF">$</FONT></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=81.733><P style="margin:0px" align=right><FONT style="background-color:#FFFFFF">448</FONT></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:1.333px solid #000000" valign=bottom width=469.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:1.333px solid #000000" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:1.333px solid #000000" valign=bottom width=14.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:1.333px solid #000000" valign=bottom width=82><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:1.333px solid #000000" valign=bottom width=14.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:1.333px solid #000000" valign=bottom width=14.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:1.333px solid #000000" valign=bottom width=14.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:1.333px solid #000000" valign=bottom width=81.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:1.333px solid #000000" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=469.2><P style="margin:0px"><FONT style="background-color:#FFFFFF">&nbsp;</FONT></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=82><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=81.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:2px solid #000000" valign=bottom width=469.2><P style="margin:0px; margin-left:36px"><FONT style="background-color:#CCEEFF"><B>Total Assets</B></FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:2px solid #000000" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:2px solid #000000" valign=bottom width=14.867><P style="margin:0px"><FONT style="background-color:#CCEEFF">$</FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:2px solid #000000" valign=bottom width=82><P style="margin:0px" align=right><FONT style="background-color:#CCEEFF">482,361</FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:2px solid #000000" valign=bottom width=14.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:2px solid #000000" valign=bottom width=14.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:2px solid #000000" valign=bottom width=14.667><P style="margin:0px"><FONT style="background-color:#CCEEFF">$</FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:2px solid #000000" valign=bottom width=81.733><P style="margin:0px" align=right><FONT style="background-color:#CCEEFF">448</FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:2px solid #000000" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=469.2><P style="margin:0px"><FONT style="background-color:#FFFFFF">&nbsp;</FONT></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=82><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=81.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=469.2><P style="margin:0px"><FONT style="background-color:#CCEEFF"><B>Liabilities and Stockholders&rsquo; Deficit</B></FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=82><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=81.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=469.2><P style="margin:0px"><FONT style="background-color:#FFFFFF">&nbsp;</FONT></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=82><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=81.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=469.2><P style="margin:0px"><FONT style="background-color:#CCEEFF"><B>Liabilities</B></FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=82><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=81.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=469.2><P style="margin:0px; margin-left:12px"><FONT style="background-color:#FFFFFF">Accounts payable</FONT></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.867><P style="margin:0px"><FONT style="background-color:#FFFFFF">$</FONT></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=82><P style="margin:0px" align=right><FONT style="background-color:#FFFFFF">54,916</FONT></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.667><P style="margin:0px"><FONT style="background-color:#FFFFFF">$</FONT></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=81.733><P style="margin:0px" align=right><FONT style="background-color:#FFFFFF">50,685</FONT></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=469.2><P style="margin:0px; margin-left:12px"><FONT style="background-color:#CCEEFF">Due to Stockholder</FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=82><P style="margin:0px" align=right><FONT style="background-color:#CCEEFF">84,292</FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=81.733><P style="margin:0px" align=right><FONT style="background-color:#CCEEFF">74,292</FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#FFFFFF; border-bottom:1.333px solid #000000" valign=bottom width=469.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF; border-bottom:1.333px solid #000000" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF; border-bottom:1.333px solid #000000" valign=bottom width=14.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF; border-bottom:1.333px solid #000000" valign=bottom width=82><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF; border-bottom:1.333px solid #000000" valign=bottom width=14.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF; border-bottom:1.333px solid #000000" valign=bottom width=14.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF; border-bottom:1.333px solid #000000" valign=bottom width=14.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF; border-bottom:1.333px solid #000000" valign=bottom width=81.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF; border-bottom:1.333px solid #000000" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=469.2><P style="margin:0px"><FONT style="background-color:#CCEEFF">&nbsp;</FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=82><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=81.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#FFFFFF; border-bottom:1.333px solid #000000" valign=bottom width=469.2><P style="margin:0px; margin-left:36px"><FONT style="background-color:#FFFFFF"><B>Total Liabilities</B></FONT></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF; border-bottom:1.333px solid #000000" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF; border-bottom:1.333px solid #000000" valign=bottom width=14.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF; border-bottom:1.333px solid #000000" valign=bottom width=82><P style="margin:0px" align=right><FONT style="background-color:#FFFFFF">139,208</FONT></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF; border-bottom:1.333px solid #000000" valign=bottom width=14.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF; border-bottom:1.333px solid #000000" valign=bottom width=14.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF; border-bottom:1.333px solid #000000" valign=bottom width=14.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF; border-bottom:1.333px solid #000000" valign=bottom width=81.733><P style="margin:0px" align=right><FONT style="background-color:#FFFFFF">124,977</FONT></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF; border-bottom:1.333px solid #000000" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=469.2><P style="margin:0px"><FONT style="background-color:#CCEEFF">&nbsp;</FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=82><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=81.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=469.2><P style="margin:0px"><FONT style="background-color:#FFFFFF">&nbsp;</FONT></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=82><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=81.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=469.2><P style="margin:0px"><FONT style="background-color:#CCEEFF"><B>Stockholders&rsquo; Deficit</B></FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=82><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=81.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=469.2><P style="margin:0px; margin-left:19.2px; text-indent:-6.733px"><FONT style="background-color:#FFFFFF">Common stock; $0.01 par value; 100,000,000 shares authorized; 1,000,000 shares issued and outstanding as of June 30, 2016; 1,000,000 shares issued and outstanding as of December 31, 2015</FONT></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=82><P style="margin:0px" align=right><FONT style="background-color:#FFFFFF">10,000</FONT></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=81.733><P style="margin:0px" align=right><FONT style="background-color:#FFFFFF">10,000</FONT></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=469.2><P style="margin:0px; margin-left:19.2px; text-indent:-6.733px"><FONT style="background-color:#CCEEFF">Preferred stock, $0.01 par value, 10,000,000 shares authorized; 0 shares issued and outstanding as of December 31, 2015</FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=82><P style="margin:0px" align=right><FONT style="background-color:#CCEEFF">&mdash;</FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=81.733><P style="margin:0px" align=right><FONT style="background-color:#CCEEFF">&mdash;</FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=469.2><P style="margin:0px; margin-left:19.2px; text-indent:-6.733px"><FONT style="background-color:#FFFFFF">Additional Paid-In Capital</FONT></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=82><P style="margin:0px" align=right><FONT style="background-color:#FFFFFF">543,500</FONT></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=81.733><P style="margin:0px" align=right><FONT style="background-color:#FFFFFF">&mdash;</FONT></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:1.333px solid #000000" valign=bottom width=469.2><P style="margin:0px; margin-left:19.2px; text-indent:-6.733px"><FONT style="background-color:#CCEEFF">Accumulated deficit</FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:1.333px solid #000000" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:1.333px solid #000000" valign=bottom width=14.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:1.333px solid #000000" valign=bottom width=82><P style="margin:0px" align=right><FONT style="background-color:#CCEEFF">(210,347</FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:1.333px solid #000000" valign=bottom width=14.533><P style="margin:0px"><FONT style="background-color:#CCEEFF">)</FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:1.333px solid #000000" valign=bottom width=14.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:1.333px solid #000000" valign=bottom width=14.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:1.333px solid #000000" valign=bottom width=81.733><P style="margin:0px" align=right><FONT style="background-color:#CCEEFF">(134,529</FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:1.333px solid #000000" valign=bottom width=14.4><P style="margin:0px"><FONT style="background-color:#CCEEFF">)</FONT></P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=469.2><P style="margin:0px"><FONT style="background-color:#FFFFFF">&nbsp;</FONT></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=82><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=81.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:1.333px solid #000000" valign=bottom width=469.2><P style="margin:0px; margin-left:36px"><FONT style="background-color:#CCEEFF"><B>Total stockholders&rsquo; deficit</B></FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:1.333px solid #000000" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:1.333px solid #000000" valign=bottom width=14.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:1.333px solid #000000" valign=bottom width=82><P style="margin:0px" align=right><FONT style="background-color:#CCEEFF">(343,153</FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:1.333px solid #000000" valign=bottom width=14.533><P style="margin:0px"><FONT style="background-color:#CCEEFF">)</FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:1.333px solid #000000" valign=bottom width=14.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:1.333px solid #000000" valign=bottom width=14.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:1.333px solid #000000" valign=bottom width=81.733><P style="margin:0px" align=right><FONT style="background-color:#CCEEFF">(124,529</FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:1.333px solid #000000" valign=bottom width=14.4><P style="margin:0px"><FONT style="background-color:#CCEEFF">)</FONT></P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=469.2><P style="margin:0px"><FONT style="background-color:#FFFFFF">&nbsp;</FONT></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=82><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=81.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:2px solid #000000" valign=bottom width=469.2><P style="margin:0px; margin-left:36px"><FONT style="background-color:#CCEEFF"><B>Total Liabilities and Stockholders&rsquo; Deficit</B></FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:2px solid #000000" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:2px solid #000000" valign=bottom width=14.867><P style="margin:0px"><FONT style="background-color:#CCEEFF">$</FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:2px solid #000000" valign=bottom width=82><P style="margin:0px" align=right><FONT style="background-color:#CCEEFF">482,361</FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:2px solid #000000" valign=bottom width=14.533><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:2px solid #000000" valign=bottom width=14.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:2px solid #000000" valign=bottom width=14.667><P style="margin:0px"><FONT style="background-color:#CCEEFF">$</FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:2px solid #000000" valign=bottom width=81.733><P style="margin:0px" align=right><FONT style="background-color:#CCEEFF">448</FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:2px solid #000000" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
</TABLE>
<DIV style="width:720px">
<P style="margin:0px">&nbsp;</P>

<P style="margin:0px" align=center>- 3 -</P>

<HR noshade align="center" width="100%" size="2"><p style='page-break-before:always'></p><PAGE><BR>

<P style="margin:0px" align=center><B>Generation Income Properties, Inc.</B></P>
<P style="margin:0px" align=center><B>&nbsp;</B></P>
<P style="margin:0px" align=center><B>Consolidated Statements of Operations</B></P>
<P style="margin:0px" align=center><B>&nbsp;</B></P>
<P style="margin:0px" align=center><B>For the Six-Month Periods Ended June 30, 2016 (unaudited) and June 30, 2015 (audited)</B></P>
<P style="margin:0px">&nbsp;</P>
<P style="margin:0px">&nbsp;</P>
<TABLE style="margin-top:0px; font-size:10pt" cellpadding=0 cellspacing=0><TR height=0 style="font-size:1pt"><TD width=471 ></TD><TD width=14.4 ></TD><TD width=14.4 ></TD><TD width=81.467 ></TD><TD width=14.4 ></TD><TD width=14.867 ></TD><TD width=14.133 ></TD><TD width=81.2 ></TD><TD width=14.067 ></TD></TR>
<TR><TD style="margin-top:0px; border-top:2px solid #000000" valign=bottom width=471><P style="margin:0px">&nbsp;</P>
</TD><TD style="margin-top:0px; border-top:2px solid #000000" valign=bottom width=14.4><P style="margin:0px">&nbsp;</P>
</TD><TD style="margin-top:0px; border-top:2px solid #000000" valign=bottom width=95.867 colspan=2><P style="margin:0px" align=center>Unaudited</P>
</TD><TD style="margin-top:0px; border-top:2px solid #000000" valign=bottom width=14.4><P style="margin:0px">&nbsp;</P>
</TD><TD style="margin-top:0px; border-top:2px solid #000000" valign=bottom width=14.867><P style="margin:0px">&nbsp;</P>
</TD><TD style="margin-top:0px; border-top:2px solid #000000" valign=bottom width=95.333 colspan=2><P style="margin:0px" align=center>Audited</P>
</TD><TD style="margin-top:0px; border-top:2px solid #000000" valign=bottom width=14.067><P style="margin:0px">&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px; border-bottom:2px solid #000000" valign=bottom width=471><P style="margin:0px">&nbsp;</P>
</TD><TD style="margin-top:0px; border-bottom:2px solid #000000" valign=bottom width=14.4><P style="margin:0px"><B>&nbsp;</B></P>
</TD><TD style="margin-top:0px; border-bottom:2px solid #000000" valign=bottom width=95.867 colspan=2><P style="margin:0px" align=center><B>June 30, 2016</B></P>
</TD><TD style="margin-top:0px; border-bottom:2px solid #000000" valign=bottom width=14.4><P style="margin:0px"><B>&nbsp;</B></P>
</TD><TD style="margin-top:0px; border-bottom:2px solid #000000" valign=bottom width=14.867><P style="margin:0px"><B>&nbsp;</B></P>
</TD><TD style="margin-top:0px; border-bottom:2px solid #000000" valign=bottom width=95.333 colspan=2><P style="margin:0px" align=center><B>June 30, 2015</B></P>
</TD><TD style="margin-top:0px; border-bottom:2px solid #000000" valign=bottom width=14.067><P style="margin:0px"><B>&nbsp;</B></P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=bottom width=471><P style="margin:0px">&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=95.867 colspan=2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=14.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=95.333 colspan=2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=14.067><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=471><P style="margin:0px"><FONT style="background-color:#CCEEFF"><B>Expenses</B></FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=81.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.133><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=81.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.067><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=471><P style="margin:0px; margin-left:12px"><FONT style="background-color:#FFFFFF">Organizational Costs</FONT></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.4><P style="margin:0px"><FONT style="background-color:#FFFFFF">$</FONT></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=81.467><P style="margin:0px" align=right><FONT style="background-color:#FFFFFF">75,818</FONT></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.133><P style="margin:0px"><FONT style="background-color:#FFFFFF">$</FONT></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=81.2><P style="margin:0px" align=right><FONT style="background-color:#FFFFFF">746</FONT></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.067><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#FFFFFF; border-bottom:1.333px solid #000000" valign=bottom width=471><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF; border-bottom:1.333px solid #000000" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF; border-bottom:1.333px solid #000000" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF; border-bottom:1.333px solid #000000" valign=bottom width=81.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF; border-bottom:1.333px solid #000000" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF; border-bottom:1.333px solid #000000" valign=bottom width=14.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF; border-bottom:1.333px solid #000000" valign=bottom width=14.133><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF; border-bottom:1.333px solid #000000" valign=bottom width=81.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF; border-bottom:1.333px solid #000000" valign=bottom width=14.067><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=471><P style="margin:0px; margin-left:36px"><FONT style="background-color:#CCEEFF"><B>Total Other Expenses</B></FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=81.467><P style="margin:0px" align=right><FONT style="background-color:#CCEEFF">75,818</FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.133><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=81.2><P style="margin:0px" align=right><FONT style="background-color:#CCEEFF">746</FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.067><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=471><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=81.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.133><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=81.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.067><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=471><P style="margin:0px"><FONT style="background-color:#CCEEFF">&nbsp;</FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=81.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.133><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=81.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.067><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=471><P style="margin:0px"><FONT style="background-color:#FFFFFF"><B>Net Loss</B></FONT></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.4><P style="margin:0px"><FONT style="background-color:#FFFFFF">$</FONT></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=81.467><P style="margin:0px" align=right><FONT style="background-color:#FFFFFF">(75,818</FONT></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.4><P style="margin:0px"><FONT style="background-color:#FFFFFF">)</FONT></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.133><P style="margin:0px"><FONT style="background-color:#FFFFFF">$</FONT></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=81.2><P style="margin:0px" align=right><FONT style="background-color:#FFFFFF">(746</FONT></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.067><P style="margin:0px"><FONT style="background-color:#FFFFFF">)</FONT></P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=471><P style="margin:0px"><FONT style="background-color:#CCEEFF"><B>Total Weighted Average Shares</B></FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.4><P style="margin:0px"><FONT style="background-color:#CCEEFF">$</FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=81.467><P style="margin:0px" align=right><FONT style="background-color:#CCEEFF">(1,000,000</FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.4><P style="margin:0px"><FONT style="background-color:#CCEEFF">)</FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.133><P style="margin:0px"><FONT style="background-color:#CCEEFF">$</FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=81.2><P style="margin:0px" align=right><FONT style="background-color:#CCEEFF">1,000,000</FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.067><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#FFFFFF; border-bottom:1.333px solid #000000" valign=bottom width=471><P style="margin:0px"><FONT style="background-color:#FFFFFF"><B>Basic Earnings Per Share Attributable to Common Stockholder</B></FONT></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF; border-bottom:1.333px solid #000000" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF; border-bottom:1.333px solid #000000" valign=bottom width=14.4><P style="margin:0px"><FONT style="background-color:#FFFFFF">$</FONT></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF; border-bottom:1.333px solid #000000" valign=bottom width=81.467><P style="margin:0px" align=right><FONT style="background-color:#FFFFFF">(0.075</FONT></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF; border-bottom:1.333px solid #000000" valign=bottom width=14.4><P style="margin:0px"><FONT style="background-color:#FFFFFF">)</FONT></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF; border-bottom:1.333px solid #000000" valign=bottom width=14.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF; border-bottom:1.333px solid #000000" valign=bottom width=14.133><P style="margin:0px"><FONT style="background-color:#FFFFFF">$</FONT></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF; border-bottom:1.333px solid #000000" valign=bottom width=81.2><P style="margin:0px" align=right><FONT style="background-color:#FFFFFF">(0.001</FONT></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF; border-bottom:1.333px solid #000000" valign=bottom width=14.067><P style="margin:0px"><FONT style="background-color:#FFFFFF">)</FONT></P>
</TD></TR>
</TABLE>
<P style="margin:0px">&nbsp;</P>

<P style="margin:0px" align=center>- 4 -</P>

<HR noshade align="center" width="100%" size="2"><p style='page-break-before:always'></p><PAGE><BR>

<P style="margin:0px" align=center><B>Generation Income Properties, Inc.</B></P>
<P style="margin:0px" align=center><B>&nbsp;</B></P>
<P style="margin:0px" align=center><B>Consolidated Statements of Stockholders&rsquo; Equity</B></P>
<P style="margin:0px" align=center><B>&nbsp;</B></P>
<P style="margin:0px" align=center><B>For the Six-Month Period Ended June 30, 2016 (unaudited) and the Year Ended </B></P>
<P style="margin:0px" align=center><B>December 31, 2015 (audited)</B></P>
<P style="margin:0px">&nbsp;</P>
<P style="margin:0px">&nbsp;</P>
</DIV><TABLE style="margin-top:0px; font-size:10pt" cellpadding=0 cellspacing=0><TR height=0 style="font-size:1pt"><TD width=226.133 ></TD><TD width=14.867 ></TD><TD width=71.933 ></TD><TD width=14.867 ></TD><TD width=14.267 ></TD><TD width=53.2 ></TD><TD width=14.267 ></TD><TD width=14.267 ></TD><TD width=71.733 ></TD><TD width=14.867 ></TD><TD width=14.267 ></TD><TD width=77.067 ></TD><TD width=14.267 ></TD><TD width=14.267 ></TD><TD width=76.4 ></TD><TD width=13.8 ></TD></TR>
<TR><TD style="margin-top:0px; background-color:#FFFFFF; border-top:2px solid #000000" valign=bottom width=720.467 colspan=16><P STYLE="margin: 0px; text-align: center; border-bottom: Black 1pt solid"><B>Stockholders&rsquo; Deficit</B></P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=226.133><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=154.267 colspan=4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=86 colspan=2><P style="margin:0px" align=center><B>Additional</B></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=91.333 colspan=2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=90.667 colspan=2><P style="margin:0px" align=center><B>Total</B></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=13.8><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=226.133><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF; border-bottom:1px solid #000000" valign=bottom width=154.267 colspan=4><P style="margin:0px" align=center><B>Common Stock</B></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=86 colspan=2><P style="margin:0px" align=center><B>Paid-In</B></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=91.333 colspan=2><P style="margin:0px" align=center><B>Accumulated</B></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=90.667 colspan=2><P style="margin:0px" align=center><B>Stockholders&rsquo;</B></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=13.8><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#FFFFFF; border-bottom:1px solid #000000" valign=bottom width=226.133><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF; border-bottom:1px solid #000000" valign=bottom width=14.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF; border-bottom:1px solid #000000" valign=bottom width=71.933><P style="margin:0px" align=center><B>Shares</B></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF; border-bottom:1px solid #000000" valign=bottom width=14.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF; border-bottom:1px solid #000000" valign=bottom width=67.467 colspan=2><P style="margin:0px" align=center><B>Amount</B></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF; border-bottom:1px solid #000000" valign=bottom width=14.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF; border-bottom:1px solid #000000" valign=bottom width=86 colspan=2><P style="margin:0px" align=center><B>Capital</B></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF; border-bottom:1px solid #000000" valign=bottom width=14.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF; border-bottom:1px solid #000000" valign=bottom width=91.333 colspan=2><P style="margin:0px" align=center><B>Deficit</B></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF; border-bottom:1px solid #000000" valign=bottom width=14.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF; border-bottom:1px solid #000000" valign=bottom width=90.667 colspan=2><P style="margin:0px" align=center><B>Deficit</B></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF; border-bottom:1px solid #000000" valign=bottom width=13.8><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=226.133><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=71.933><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=53.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=71.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=77.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=76.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=13.8><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:2px solid #000000" valign=bottom width=226.133><P style="margin:0px"><FONT style="background-color:#CCEEFF"><B>Balance, December 31, 2015 (audited)</B></FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:2px solid #000000" valign=bottom width=14.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:2px solid #000000" valign=bottom width=71.933><P style="margin:0px" align=right><FONT style="background-color:#CCEEFF">1,000,000</FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:2px solid #000000" valign=bottom width=14.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:2px solid #000000" valign=bottom width=14.267><P style="margin:0px"><FONT style="background-color:#CCEEFF">$</FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:2px solid #000000" valign=bottom width=53.2><P style="margin:0px" align=right><FONT style="background-color:#CCEEFF">10,000</FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:2px solid #000000" valign=bottom width=14.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:2px solid #000000" valign=bottom width=14.267><P style="margin:0px"><FONT style="background-color:#CCEEFF">$</FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:2px solid #000000" valign=bottom width=71.733><P STYLE="margin: 0px; padding: 0px; text-align: right">&mdash;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:2px solid #000000" valign=bottom width=14.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:2px solid #000000" valign=bottom width=14.267><P style="margin:0px"><FONT style="background-color:#CCEEFF">$</FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:2px solid #000000" valign=bottom width=77.067><P style="margin:0px" align=right><FONT style="background-color:#CCEEFF">(134,529</FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:2px solid #000000" valign=bottom width=14.267><P style="margin:0px"><FONT style="background-color:#CCEEFF">)</FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:2px solid #000000" valign=bottom width=14.267><P style="margin:0px"><FONT style="background-color:#CCEEFF">$</FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:2px solid #000000" valign=bottom width=76.4><P style="margin:0px" align=right><FONT style="background-color:#CCEEFF">(124,529</FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:2px solid #000000" valign=bottom width=13.8><P style="margin:0px"><FONT style="background-color:#CCEEFF">)</FONT></P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=226.133><P style="margin:0px"><FONT style="background-color:#FFFFFF">&nbsp;</FONT></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=71.933><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=53.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=71.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=77.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=76.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=13.8><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=226.133><P style="margin:0px"><FONT style="background-color:#CCEEFF">Issuance of Common Stock</FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=71.933><P style="margin:0px" align=right><FONT style="background-color:#CCEEFF">&mdash;</FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=53.2><P style="margin:0px" align=right><FONT style="background-color:#CCEEFF">&mdash;</FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=71.733><P STYLE="margin: 0px; padding: 0px; text-align: right">&mdash;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=77.067><P style="margin:0px" align=right><FONT style="background-color:#CCEEFF">&mdash;</FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=76.4><P style="margin:0px" align=right><FONT style="background-color:#CCEEFF">&mdash;</FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=13.8><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=226.133><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=71.933><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=53.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=71.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=77.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=76.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=13.8><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=226.133><P style="margin:0px"><FONT style="background-color:#CCEEFF">Additional Paid-In Capital</FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=71.933><P style="margin:0px" align=right><FONT style="background-color:#CCEEFF">&mdash;</FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=53.2><P style="margin:0px" align=right><FONT style="background-color:#CCEEFF">&mdash;</FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=71.733><P style="margin:0px" align=right><FONT style="background-color:#CCEEFF">543,500</FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=77.067><P style="margin:0px" align=right><FONT style="background-color:#CCEEFF">&mdash;</FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=76.4><P style="margin:0px" align=right><FONT style="background-color:#CCEEFF">543,500</FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=13.8><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=226.133><P style="margin:0px"><FONT style="background-color:#FFFFFF">&nbsp;</FONT></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=71.933><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=53.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=71.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=77.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=76.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=13.8><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:1.333px solid #000000" valign=bottom width=226.133><P style="margin:0px"><FONT style="background-color:#CCEEFF">Net Loss</FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:1.333px solid #000000" valign=bottom width=14.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:1.333px solid #000000" valign=bottom width=71.933><P style="margin:0px" align=right><FONT style="background-color:#CCEEFF">&mdash;</FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:1.333px solid #000000" valign=bottom width=14.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:1.333px solid #000000" valign=bottom width=14.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:1.333px solid #000000" valign=bottom width=53.2><P style="margin:0px" align=right><FONT style="background-color:#CCEEFF">&mdash;</FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:1.333px solid #000000" valign=bottom width=14.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:1.333px solid #000000" valign=bottom width=14.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:1.333px solid #000000" valign=bottom width=71.733><P style="margin:0px" align=right><FONT style="background-color:#CCEEFF">&mdash;</FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:1.333px solid #000000" valign=bottom width=14.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:1.333px solid #000000" valign=bottom width=14.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:1.333px solid #000000" valign=bottom width=77.067><P style="margin:0px" align=right><FONT style="background-color:#CCEEFF">(75,818</FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:1.333px solid #000000" valign=bottom width=14.267><P style="margin:0px"><FONT style="background-color:#CCEEFF">)</FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:1.333px solid #000000" valign=bottom width=14.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:1.333px solid #000000" valign=bottom width=76.4><P style="margin:0px" align=right><FONT style="background-color:#CCEEFF">(75,818</FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:1.333px solid #000000" valign=bottom width=13.8><P style="margin:0px"><FONT style="background-color:#CCEEFF">)</FONT></P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=226.133><P style="margin:0px"><FONT style="background-color:#FFFFFF">&nbsp;</FONT></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=71.933><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=53.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=71.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=77.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=76.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=13.8><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:2px solid #000000" valign=bottom width=226.133><P style="margin:0px"><FONT style="background-color:#CCEEFF"><B>Balance, June 30, 2016 (unaudited)</B></FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:2px solid #000000" valign=bottom width=14.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:2px solid #000000" valign=bottom width=71.933><P style="margin:0px" align=right><FONT style="background-color:#CCEEFF">1,000,000</FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:2px solid #000000" valign=bottom width=14.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:2px solid #000000" valign=bottom width=14.267><P style="margin:0px"><FONT style="background-color:#CCEEFF">$</FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:2px solid #000000" valign=bottom width=53.2><P style="margin:0px" align=right><FONT style="background-color:#CCEEFF">10,000</FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:2px solid #000000" valign=bottom width=14.267><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:2px solid #000000" valign=bottom width=14.267><P style="margin:0px"><FONT style="background-color:#CCEEFF">$</FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:2px solid #000000" valign=bottom width=71.733><P style="margin:0px" align=right><FONT style="background-color:#CCEEFF">543,500</FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:2px solid #000000" valign=bottom width=14.867><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:2px solid #000000" valign=bottom width=14.267><P style="margin:0px"><FONT style="background-color:#CCEEFF">$</FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:2px solid #000000" valign=bottom width=77.067><P style="margin:0px" align=right><FONT style="background-color:#CCEEFF">(210,347</FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:2px solid #000000" valign=bottom width=14.267><P style="margin:0px"><FONT style="background-color:#CCEEFF">)</FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:2px solid #000000" valign=bottom width=14.267><P style="margin:0px"><FONT style="background-color:#CCEEFF">$</FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:2px solid #000000" valign=bottom width=76.4><P style="margin:0px" align=right><FONT style="background-color:#CCEEFF">343,153</FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:2px solid #000000" valign=bottom width=13.8><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
</TABLE>
<DIV style="width:720px">
<P style="margin:0px">&nbsp;</P>

<P style="margin:0px" align=center>- 5 -</P>

<HR noshade align="center" width="100%" size="2"><p style='page-break-before:always'></p><PAGE><BR>

<P style="margin:0px" align=center><B>Generation Income Properties, Inc.</B></P>
<P style="margin:0px" align=center><B>&nbsp;</B></P>
<P style="margin:0px" align=center><B>Consolidated Statement of Cash Flows</B></P>
<P style="margin:0px" align=center><B>&nbsp;</B></P>
<P style="margin:0px" align=center><B>For the Six-Month Periods Ended June 30, 2016 (unaudited) and June 30, 2015 (audited)</B></P>
<P style="margin:0px">&nbsp;</P>
<P style="margin:0px">&nbsp;</P>
</DIV><TABLE style="margin-top:0px; font-size:10pt" cellpadding=0 cellspacing=0><TR height=0 style="font-size:1pt"><TD width=471 ></TD><TD width=14.4 ></TD><TD width=14.4 ></TD><TD width=81.6 ></TD><TD width=14.4 ></TD><TD width=14.4 ></TD><TD width=14.4 ></TD><TD width=81.6 ></TD><TD width=14.267 ></TD></TR>
<TR><TD style="margin-top:0px; border-top:2px solid #000000" valign=bottom width=471><P style="margin:0px">&nbsp;</P>
</TD><TD style="margin-top:0px; border-top:2px solid #000000" valign=bottom width=14.4><P style="margin:0px">&nbsp;</P>
</TD><TD style="margin-top:0px; border-top:2px solid #000000" valign=bottom width=96 colspan=2><P style="margin:0px" align=center>Unaudited</P>
</TD><TD style="margin-top:0px; border-top:2px solid #000000" valign=bottom width=14.4><P style="margin:0px">&nbsp;</P>
</TD><TD style="margin-top:0px; border-top:2px solid #000000" valign=bottom width=14.4><P style="margin:0px">&nbsp;</P>
</TD><TD style="margin-top:0px; border-top:2px solid #000000" valign=bottom width=96 colspan=2><P style="margin:0px" align=center>Audited</P>
</TD><TD style="margin-top:0px; border-top:2px solid #000000" valign=bottom width=14.267><P style="margin:0px">&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px; border-bottom:2px solid #000000" valign=bottom width=471><P style="margin:0px">&nbsp;</P>
</TD><TD style="margin-top:0px; border-bottom:2px solid #000000" valign=bottom width=14.4><P style="margin:0px"><B>&nbsp;</B></P>
</TD><TD style="margin-top:0px; border-bottom:2px solid #000000" valign=bottom width=96 colspan=2><P style="margin:0px" align=center><B>June 30, 2016</B></P>
</TD><TD style="margin-top:0px; border-bottom:2px solid #000000" valign=bottom width=14.4><P style="margin:0px"><B>&nbsp;</B></P>
</TD><TD style="margin-top:0px; border-bottom:2px solid #000000" valign=bottom width=14.4><P style="margin:0px"><B>&nbsp;</B></P>
</TD><TD style="margin-top:0px; border-bottom:2px solid #000000" valign=bottom width=96 colspan=2><P style="margin:0px" align=center><B>June 30, 2015</B></P>
</TD><TD style="margin-top:0px; border-bottom:2px solid #000000" valign=bottom width=14.267><P style="margin:0px"><B>&nbsp;</B></P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=bottom width=471><P style="margin:0px">&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=96 colspan=2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=96 colspan=2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=14.267><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=471><P style="margin:0px"><FONT style="background-color:#CCEEFF"><B>Cash Flows from Operating Activities</B></FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=81.6><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=81.6><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.267><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=471><P style="margin:0px; margin-left:12px"><FONT style="background-color:#FFFFFF">Net loss</FONT></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.4><P style="margin:0px"><FONT style="background-color:#FFFFFF">$</FONT></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=81.6><P style="margin:0px" align=right><FONT style="background-color:#FFFFFF">(75,818</FONT></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.4><P style="margin:0px"><FONT style="background-color:#FFFFFF">)</FONT></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.4><P style="margin:0px"><FONT style="background-color:#FFFFFF">$</FONT></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=81.6><P style="margin:0px" align=right><FONT style="background-color:#FFFFFF">(746</FONT></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.267><P style="margin:0px"><FONT style="background-color:#FFFFFF">)</FONT></P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=471><P style="margin:0px; margin-left:12px"><FONT style="background-color:#CCEEFF">Adjustments to reconcile net loss to net cash used in operating activities</FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=81.6><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=81.6><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.267><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=471><P style="margin:0px; margin-left:12px"><FONT style="background-color:#FFFFFF">Changes in cash flows due to changes in operating assets and liabilities</FONT></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=81.6><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=81.6><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.267><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:1px solid #000000" valign=bottom width=471><P style="margin:0px; margin-left:24px"><FONT style="background-color:#CCEEFF">Accounts payable</FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:1px solid #000000" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:1px solid #000000" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:1px solid #000000" valign=bottom width=81.6><P style="margin:0px" align=right><FONT style="background-color:#CCEEFF">4,231</FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:1px solid #000000" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:1px solid #000000" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:1px solid #000000" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:1px solid #000000" valign=bottom width=81.6><P style="margin:0px" align=right><FONT style="background-color:#CCEEFF">746</FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:1px solid #000000" valign=bottom width=14.267><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#FFFFFF; border-bottom:1px solid #000000" valign=bottom width=471><P style="margin:0px; margin-left:36px"><FONT style="background-color:#FFFFFF">Net cash used in operating activities</FONT></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF; border-bottom:1px solid #000000" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF; border-bottom:1px solid #000000" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF; border-bottom:1px solid #000000" valign=bottom width=81.6><P style="margin:0px" align=right><FONT style="background-color:#FFFFFF">(71,587</FONT></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF; border-bottom:1px solid #000000" valign=bottom width=14.4><P style="margin:0px"><FONT style="background-color:#FFFFFF">)</FONT></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF; border-bottom:1px solid #000000" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF; border-bottom:1px solid #000000" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF; border-bottom:1px solid #000000" valign=bottom width=81.6><P style="margin:0px" align=right><FONT style="background-color:#FFFFFF">(4,000</FONT></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF; border-bottom:1px solid #000000" valign=bottom width=14.267><P style="margin:0px"><FONT style="background-color:#FFFFFF">)</FONT></P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=471><P style="margin:0px"><FONT style="background-color:#FFFFFF">&nbsp;</FONT></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=81.6><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=81.6><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.267><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=471><P style="margin:0px"><FONT style="background-color:#CCEEFF"><B>Cash Flows from Investing Activities</B></FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=81.6><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=81.6><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.267><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#FFFFFF; border-bottom:1.333px solid #000000" valign=bottom width=471><P style="margin:0px; margin-left:12px"><FONT style="background-color:#FFFFFF">Purchase of property, equipment, and software</FONT></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF; border-bottom:1.333px solid #000000" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF; border-bottom:1.333px solid #000000" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF; border-bottom:1.333px solid #000000" valign=bottom width=81.6><P style="margin:0px" align=right><FONT style="background-color:#FFFFFF">&mdash;</FONT></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF; border-bottom:1.333px solid #000000" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF; border-bottom:1.333px solid #000000" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF; border-bottom:1.333px solid #000000" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF; border-bottom:1.333px solid #000000" valign=bottom width=81.6><P style="margin:0px" align=right><FONT style="background-color:#FFFFFF">&mdash;</FONT></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF; border-bottom:1.333px solid #000000" valign=bottom width=14.267><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=471><P style="margin:0px"><FONT style="background-color:#CCEEFF">&nbsp;</FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=81.6><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=81.6><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.267><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=471><P style="margin:0px"><FONT style="background-color:#FFFFFF"><B>Cash Flows from Financing Activities</B></FONT></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=81.6><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=81.6><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.267><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=471><P style="margin:0px; margin-left:12px"><FONT style="background-color:#CCEEFF">Proceeds from the sale of stock</FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=81.6><P style="margin:0px" align=right><FONT style="background-color:#CCEEFF">&mdash;</FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=81.6><P style="margin:0px" align=right><FONT style="background-color:#CCEEFF">&mdash;</FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.267><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=471><P style="margin:0px; margin-left:12px"><FONT style="background-color:#FFFFFF">Additional Paid-In Capital</FONT></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=81.6><P style="margin:0px" align=right><FONT style="background-color:#FFFFFF">543,500</FONT></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=81.6><P style="margin:0px" align=right><FONT style="background-color:#FFFFFF">&mdash;</FONT></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.267><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=471><P style="margin:0px; margin-left:12px"><FONT style="background-color:#CCEEFF">Expense paid by stockholder</FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=81.6><P style="margin:0px" align=right><FONT style="background-color:#CCEEFF">10,000</FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=81.6><P style="margin:0px" align=right><FONT style="background-color:#CCEEFF">4,000</FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.267><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=471><P style="margin:0px; margin-left:36px"><FONT style="background-color:#FFFFFF">Net cash provided by (used in) financing activities</FONT></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=81.6><P style="margin:0px" align=right><FONT style="background-color:#FFFFFF">553,500</FONT></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=81.6><P style="margin:0px" align=right><FONT style="background-color:#FFFFFF">4,000</FONT></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.267><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:1.333px solid #000000" valign=bottom width=471><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:1.333px solid #000000" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:1.333px solid #000000" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:1.333px solid #000000" valign=bottom width=81.6><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:1.333px solid #000000" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:1.333px solid #000000" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:1.333px solid #000000" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:1.333px solid #000000" valign=bottom width=81.6><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:1.333px solid #000000" valign=bottom width=14.267><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=471><P style="margin:0px"><FONT style="background-color:#FFFFFF">&nbsp;</FONT></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=81.6><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=81.6><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.267><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=471><P style="margin:0px"><FONT style="background-color:#CCEEFF"><B>Net Increase in Cash and Cash Equivalents</B></FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=81.6><P style="margin:0px" align=right><FONT style="background-color:#CCEEFF">481,913</FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=81.6><P style="margin:0px" align=right><FONT style="background-color:#CCEEFF">&mdash;</FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=bottom width=14.267><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=471><P style="margin:0px"><FONT style="background-color:#FFFFFF">&nbsp;</FONT></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=81.6><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=81.6><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.267><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:1.333px solid #000000" valign=bottom width=471><P style="margin:0px"><FONT style="background-color:#CCEEFF"><B>Cash &ndash; December 31, 2015</B></FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:1.333px solid #000000" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:1.333px solid #000000" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:1.333px solid #000000" valign=bottom width=81.6><P style="margin:0px" align=right><FONT style="background-color:#CCEEFF">448</FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:1.333px solid #000000" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:1.333px solid #000000" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:1.333px solid #000000" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:1.333px solid #000000" valign=bottom width=81.6><P style="margin:0px" align=right><FONT style="background-color:#CCEEFF">&mdash;</FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:1.333px solid #000000" valign=bottom width=14.267><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=471><P style="margin:0px"><FONT style="background-color:#FFFFFF">&nbsp;</FONT></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=81.6><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=81.6><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=bottom width=14.267><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:2px solid #000000" valign=bottom width=471><P style="margin:0px"><FONT style="background-color:#CCEEFF"><B>Cash &ndash; June 30, 2016</B></FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:2px solid #000000" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:2px solid #000000" valign=bottom width=14.4><P style="margin:0px"><FONT style="background-color:#CCEEFF">$</FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:2px solid #000000" valign=bottom width=81.6><P style="margin:0px" align=right><FONT style="background-color:#CCEEFF">482,361</FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:2px solid #000000" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:2px solid #000000" valign=bottom width=14.4><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:2px solid #000000" valign=bottom width=14.4><P style="margin:0px"><FONT style="background-color:#CCEEFF">$</FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:2px solid #000000" valign=bottom width=81.6><P style="margin:0px" align=right><FONT style="background-color:#CCEEFF">&mdash;</FONT></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF; border-bottom:2px solid #000000" valign=bottom width=14.267><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
</TABLE>
<DIV style="width:720px">
<P style="margin:0px">&nbsp;</P>

<P style="margin:0px" align=center>- 6 -</P>

<HR noshade align="center" width="100%" size="2"><p style='page-break-before:always'></p><PAGE><BR>

<P style="margin:0px" align=center><B>Generation Income Properties, Inc.</B></P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px" align=center><B>Notes to Consolidated Financial Statements</B></P>
<P style="margin:0px; text-align: justify"><BR></P>
<P style="margin:0px; text-align: justify"><BR></P>
<P style="margin:0px; text-align: justify"><B>Note 1 - Organization</B></P>
<P style="margin:0px; text-align: justify"><BR></P>
<P style="margin:0px; text-align: justify">Generation Income Properties, Inc. (the &ldquo;Company&rdquo;) was formed as a Maryland corporation on June 18, 2015 to opportunistically acquire and invest in freestanding, single-tenant commercial properties located primarily in major cities in the United States. The Company is internally managed and intends on net leasing properties to investment grade tenants.</P>
<P style="margin:0px; text-align: justify"><BR></P>
<P style="margin:0px; text-align: justify">As of December 31, 2015, the Company has not yet commenced operations and has not entered into any contracts to acquire properties. The Company formed Generation Income Properties L.P. (the &ldquo;Operating Partnership&rdquo;) in October 2015; however the Operating Partnership has no operations at this time. Substantially all of the Company&rsquo;s assets will be held by, and operations will be conducted through the Operating Partnership. The Company will be the sole general partner of the Operating Partnership.</P>
<P style="margin:0px; text-align: justify"><BR></P>
<P style="margin:0px; text-align: justify">The Company expects to commence operations upon the closing of our offering, which was qualified with the U.S. Securities and Exchange Commission in February 2016. &nbsp;We intend to become publicly traded on the OTCQB Markets platform. </P>
<P style="margin:0px; text-align: justify"><BR></P>
<P style="margin:0px; text-align: justify"><BR></P>
<P style="margin:0px; text-align: justify"><B>Note 2 - Summary of Significant Accounting Policies</B></P>
<P style="margin:0px; text-align: justify"><BR></P>
<P style="margin:0px; text-align: justify"><B>Basis of Presentation</B></P>
<P style="margin:0px; text-align: justify"><BR></P>
<P style="margin:0px; text-align: justify">The accompanying balance sheet, statement of operations and statement of cash flows and related notes to the financial statements of the Company are prepared on the accrual basis of accounting and have been prepared in accordance with accounting principles generally accepted in the United States of America (&ldquo;GAAP&rdquo;).</P>
<P style="margin:0px; text-align: justify"><BR></P>
<P style="margin:0px; text-align: justify">The Company adopted the calendar year as its basis of reporting.</P>
<P style="margin:0px; text-align: justify"><BR></P>
<P style="margin:0px; text-align: justify">The six-month period ending June 30, 2015 (audited) in the Company&rsquo;s Consolidated Statement of Cash Flows and the Company&rsquo;s Consolidated Statement of Operations represents an actual period of June 18, 2015 to June 30, 2015.</P>
<P style="margin:0px; text-align: justify"><BR></P>
<P style="margin:0px; text-align: justify"><B>Consolidation</B></P>
<P style="margin:0px; text-align: justify"><BR></P>
<P style="margin:0px; text-align: justify">The accompanying consolidated financial statements include the accounts of Generation Income Properties, Inc. and the Operating Partnership. &nbsp;All significant inter-company balances and transactions have been eliminated in the consolidated financial statements.</P>
<P style="margin:0px; text-align: justify"><BR></P>
<P style="margin:0px; text-align: justify"><B>Cash</B></P>
<P style="margin:0px; text-align: justify"><BR></P>
<P style="margin:0px; text-align: justify">Cash consists of amounts that the Company has on deposit with a major commercial financial institution.</P>
<P style="margin:0px; text-align: justify"><BR></P>
<P style="margin:0px; text-align: justify"><B>Use of Estimates</B></P>
<P style="margin:0px; text-align: justify"><BR></P>
<P style="margin:0px; text-align: justify">The preparation of the financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements. Actual events and results could differ from those assumptions and estimates.</P>
<P style="margin:0px; text-align: justify"><BR></P>
<P style="margin:0px; text-align: justify"><B>Income Taxes</B></P>
<P style="margin:0px; text-align: justify"><BR></P>
<P style="margin:0px; text-align: justify">The Company intends to operate and be taxed as a real estate investment trust (&ldquo;REIT&rdquo;) under U.S. federal income tax laws, commencing with our taxable year ended December 31, 2016, &nbsp;or the first year in which we commence material operations, in the event that this is later than 2016. To qualify as a REIT, the Company must meet certain organizational and operational requirements, including a requirement to distribute at least 90% of its taxable income to its stockholders. As a REIT, the Company generally is not subject to federal corporate income tax on that portion of its taxable income that is currently distributed to stockholders.</P>
<P style="margin:0px; text-align: justify"><BR></P>

<P style="margin:0px" align=center>- 7 -</P>

<HR noshade align="center" width="100%" size="2"><p style='page-break-before:always'></p><PAGE><BR>

<P style="margin:0px; text-align: justify"><B>Organizational and Offering Costs</B></P>
<P style="margin:0px; text-align: justify"><BR></P>
<P style="margin:0px; text-align: justify">Organizational and offering costs of the Company have initially been paid by our President, David Sobelman, on behalf of the Company. These organizational and offering costs include expenses paid or to be paid by the Company in connection with the formation of the Company and the qualification of the Offering, and the marketing and distribution of shares, including, without limitation, expenses for printing, and amending offering statements or supplementing offering circulars, mailing and distributing costs, telephones, Internet and other telecommunications costs, advertising and marketing expenses, and professional fees (including accountants&rsquo; and attorneys&rsquo; fees). The Company will reimburse Mr. Sobelman for costs paid on behalf of the Company. &nbsp;As of the date of these financial statements, no such reimbursement costs have been paid to Mr. Sobelman; when incurred all expense have been charged to shareholders&rsquo; equity.</P>
<P style="margin:0px; text-align: justify"><BR></P>
<P style="margin:0px; text-align: justify"><B>Earnings per Share</B></P>
<P style="margin:0px; text-align: justify"><BR></P>
<P style="margin:0px; text-align: justify">In accordance with ASC 260, basic earnings/loss per share (&ldquo;EPS&rdquo;) is computed by dividing net loss attributable to the Company that is available to common stockholders by the weighted average number of common shares outstanding during the period, excluding the effects of any potentially dilutive securities. Diluted EPS gives effect to all dilutive potential of shares of common stock outstanding during the period including stock warrants, using the treasury stock method (by using the average stock price for the period to determine the number of shares assumed to be purchased from the exercise of warrants), and convertible debt, using the if-converted method. Diluted EPS excludes all dilutive potential of shares of common stock if their effect is anti-dilutive. &nbsp;As of June 30, 2016 there were no common stock dilutive instruments.</P>
<P style="margin:0px; text-align: justify"><BR></P>
<P style="margin:0px; text-align: justify"><B>Recently Issued Accounting Pronouncements</B></P>
<P style="margin:0px; text-align: justify"><BR></P>
<P style="margin:0px; text-align: justify">In April 2014, the Financial Accounting Standards Board (&ldquo;FASB&rdquo;) issued ASU 2014-08, &ldquo;Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity&rdquo;. This new standard changes the criteria for determining which disposals can be presented as discontinued operations and modifies related disclosure requirements. Under the new guidance, a discontinued operation is defined as a disposal of a component or group of components that is disposed of or is classified as held for sale and represents a strategic shift that has (or will have) a major effect on an entity&rsquo;s operations and financial results. The guidance is effective as of the first quarter of 2015, and it does not have a material effect on the financial statements.</P>
<P style="margin:0px; text-align: justify"><BR></P>
<P style="margin:0px; text-align: justify">In May 2014, the FASB issued ASU No. 2014-09, &ldquo;Revenue from Contracts with Customers&rdquo;. This new standard will replace all current U.S. GAAP guidance related to revenue recognition and eliminate all industry- specific guidance. The new revenue recognition standard provides a unified model to determine when and how revenue is recognized. The core principle is that a company should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. This guidance will be effective beginning in 2018 and can be applied either retrospectively to each period presented or as a cumulative-effect adjustment as of the date of adoption. Management is evaluating the impact of adopting this new accounting standard on the financial statements.</P>
<P style="margin:0px; text-align: justify"><BR></P>
<P style="margin:0px; text-align: justify">In June 2014, the FASB issued ASU 2014-10, &ldquo;Development Stage Entities.&rdquo; This new standard eliminates the distinction between entities that are in the development stage from other entities in GAAP. The requirements to present inception-to-date information, label the financial statements as those of a development stage entity and disclose in the first year in which the company is no longer considered to be in the development stage that in prior years it had been in the development stage has also been eliminated. In addition, FASB ASU 2014-10 eliminates the requirement for development stage entities to disclose the development stage activities in which the company is engaged.</P>
<P style="margin:0px; text-align: justify"><BR></P>
<P style="margin:0px; text-align: justify">During February 2015, FASB issued Accounting Standards Update (&ldquo;ASU&rdquo;) 2015-02, Consolidation (Topic 810) - Amendments to the Consolidation Analysis, which amends the criteria for determining which entities are considered VIEs, amends the criteria for determining if a service provider possesses a variable interest in a VIE and ends the deferral granted to investment companies for application of the VIE consolidation model. ASU 2015-02 is effective for annual periods, and interim periods therein, beginning after December 15, 2015. Management is evaluating the impact of adopting this new accounting standard.</P>
<P style="margin:0px; text-align: justify"><BR></P>
<P style="margin:0px; text-align: justify">During February 2016, the FASB issued ASU No. 2016-02 &ldquo;Leases.&rdquo; &nbsp;This new standard will require lessees to recognize a lease liability and a right-to-use asset for all leases (with the exception of short-term leases). &nbsp;ASU 2016-02 is affective for annual periods, and interim periods therein, beginning after December 15, 2008. &nbsp;Management is evaluating the impact of the adopting this new accounting standard.</P>
<P style="margin:0px; text-align: justify"><BR></P>

<P style="margin:0px" align=center>- 8 -</P>

<HR noshade align="center" width="100%" size="2"><p style='page-break-before:always'></p><PAGE><BR>

<P style="margin:0px; text-align: justify"><B>Note 3 - Equity</B></P>
<P style="margin:0px; text-align: justify"><BR></P>
<P style="margin:0px; text-align: justify">The Company received equity subscriptions for which $543,500 of funds have been received as of June 30, 2016 but common shares have not yet been issued. Under the terms of the Offering Circular for our common shares, subscriptions may be accepted or rejected by the Company; only after a subscription agreement is accepted, settlement of the shares shall occur.</P>
<P style="margin:0px; text-align: justify"><BR></P>
<P style="margin:0px; text-align: justify">The Company is authorized to issue up to 100,000,000 shares of common stock and 10,000,000 of undesignated preferred stock. No preferred shares have been issued as of the date of this report. Holders of the Company&rsquo;s common stock are entitled to receive dividends when authorized by the Company&rsquo;s Board of Directors.</P>
<P style="margin:0px; text-align: justify"><BR></P>
<P style="margin:0px; text-align: justify">On June 19, 2015, the Company issued 1,000,000 shares of common stock to its sole stockholder for an aggregate purchase price of $10,000. &nbsp;The $10,000 was collected from the Company&rsquo;s sole shareholder in July 2015.</P>
<P style="margin:0px; text-align: justify"><BR></P>
<P style="margin:0px; text-align: justify"><BR></P>
<P style="margin:0px; text-align: justify"><B>Note 4 - Related-Party Transactions</B></P>
<P style="margin:0px; text-align: justify"><BR></P>
<P style="margin:0px; text-align: justify">During the period ended June 30, 2016, the Company&rsquo;s President, David Sobelman paid $10,000 for expenses incurred on behalf of the Company and for the period ended December 31, 2015 paid $74,292 for expenses incurred on behalf of the Company. &nbsp;These expenses will be reimbursed as per a verbal agreement between the Company and the sole stockholder, due on demand, unsecured, without interest with the proceeds received upon the sale of the Company&rsquo;s common stock as part of its initial public offering.</P>
<P style="margin:0px; text-align: justify"><BR></P>
<P style="margin:0px; text-align: justify"><BR></P>
<P style="margin:0px; text-align: justify"><B>Note 5 - Subsequent Events</B></P>
<P style="margin:0px; text-align: justify"><BR></P>
<P style="margin:0px; text-align: justify">Subsequent to the period ended June 30, 2016, the Company received equity subscriptions for which $300,000 of funds have been received, but common shares have not yet been issued. Under the terms of the Offering Circular for our common shares, subscriptions may be accepted or rejected by the Company; only after a subscription agreement is accepted, settlement of the shares shall occur. The Company has not yet entered into any contracts to acquire properties.</P>
<P style="margin:0px; text-align: justify"><BR></P>
<P style="margin:0px; text-align: justify">The Company, at a Special Meeting of the Board of Directors, approved an extension of the offering period of the Company&rsquo;s Offering on August 15, 2016. The offering of 4,000,000 shares of the Company&rsquo;s common stock was extended to the earlier period of: (i) the date when the sale of all 4,000,000 shares is completed, or (ii) 12 months from the date the Offering Statement filed on form 1-A of Regulation A of the Securities Act of 1933 was qualified.  The Offering Statement was qualified by the Securities and Exchange Commission on February 29, 2016.</P>
<P style="margin:0px; text-align: justify"><BR></P>
<P style="margin:0px; text-align: justify"><BR></P>
<P style="margin:0px; text-align: justify"><B>Item 4.&nbsp;&nbsp;&nbsp;Exhibits</B></P>
<P style="margin:0px; text-align: justify"><BR></P>
<TABLE style="margin-top:0px; font-size:10pt" cellpadding=0 cellspacing=0><TR height=0 style="font-size:1pt"><TD width=115.2 ></TD><TD width=604.8 ></TD></TR>
<TR><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=top width=115.2><P style="margin:0px"><B>Exhibit Number</B></P>
</TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=top width=604.8><P style="margin:0px"><B>Description</B></P>
</TD></TR>
<TR><TD style="margin-top:0px; border-bottom:2px solid #FFFFFF" valign=top width=115.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:2px solid #FFFFFF" valign=top width=604.8><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCEEFF" valign=top width=115.2><P style="margin:0px"><B>2.1***</B></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=top width=604.8><P style="margin:0px">Articles of Amendment and Restatement of Generation Income Properties, Inc.</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=115.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=604.8><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCEEFF" valign=top width=115.2><P style="margin:0px"><B>2.2*</B></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=top width=604.8><P style="margin:0px">Bylaws of Generation Income Properties, Inc.</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=115.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=604.8><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCEEFF" valign=top width=115.2><P style="margin:0px"><B>3.1*</B></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=top width=604.8><P style="margin:0px">Founder Stock Purchase Agreement</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=115.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=604.8><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCEEFF" valign=top width=115.2><P style="margin:0px"><B>3.2*</B></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=top width=604.8><P style="margin:0px">Ownership Limit Waiver Agreement</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=115.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=604.8><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCEEFF" valign=top width=115.2><P style="margin:0px"><B>3.3*</B></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=top width=604.8><P style="margin:0px">Form of Stock Certificate</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=115.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=604.8><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCEEFF" valign=top width=115.2><P style="margin:0px"><B>4.1*</B></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=top width=604.8><P style="margin:0px">Form of Subscription Agreement</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=115.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=604.8><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#CCEEFF" valign=top width=115.2><P style="margin:0px"><B>15.1***</B></P>
</TD><TD style="margin-top:0px; background-color:#CCEEFF" valign=top width=604.8><P style="margin:0px">Appendix A Prior Performance Tables</P>
</TD></TR>
</TABLE>
<P style="margin:0px"><BR></P>
<P style="margin:0px">* incorporated by reference to Generation Income Properties Form 1-A filed on September 16, 2015</P>
<P style="margin:0px">** incorporated by reference to Generation Income Properties Form 1-A/A filed on November 11, 2015</P>
<P style="margin:0px">*** incorporated by reference to Generation Income Properties Form 1-A/A filed on January 28, 2016</P>
<P style="margin:0px"><BR></P>

<P style="margin:0px" align=center>- 9 -</P>

<HR noshade align="center" width="100%" size="2"><p style='page-break-before:always'></p><PAGE><BR>

<P style="margin:0px" align=center><B>SIGNATURES</B></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; text-indent:48px">Pursuant to the requirements of Regulation A, the issuer has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Exact name of issuer as spelled in its charter:</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
</DIV><TABLE style="margin-top:0px; font-size:10pt" cellpadding=0 cellspacing=0><TR height=0 style="font-size:1pt"><TD width=359.4 ></TD><TD width=28.667 ></TD><TD width=48.133 ></TD><TD width=284.133 ></TD></TR>
<TR><TD style="margin-top:0px" valign=top width=359.4><P style="margin:0px">&nbsp;</P>
</TD><TD style="margin-top:0px" valign=top width=360.933 colspan=3><P style="margin:0px"><B>GENERATION INCOME PROPERTIES, INC.&nbsp;</B></P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=359.4><P style="margin:0px">&nbsp;</P>
</TD><TD style="margin-top:0px" valign=top width=360.933 colspan=3><P style="margin:0px">&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=359.4><P style="margin:0px">&nbsp;</P>
</TD><TD style="margin-top:0px" valign=top width=360.933 colspan=3><P style="margin:0px">&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=359.4><P style="margin:0px">Date: September 28, 2016</P>
</TD><TD style="margin-top:0px" valign=top width=28.667><P style="margin:0px">By:</P>
</TD><TD style="margin-top:0px; border-bottom:1.333px solid #000000" valign=top width=332.267 colspan=2><P style="margin:0px; padding:0px">/s/ David Sobelman</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top width=359.4><P style="margin:0px">&nbsp;</P>
</TD><TD style="margin-top:0px" valign=top width=28.667><P style="margin:0px">&nbsp;</P>
</TD><TD style="margin-top:0px" valign=top width=48.133><P style="margin:0px">Name:</P>
</TD><TD style="margin-top:0px" valign=top width=284.133><P style="margin:0px">David Sobelman</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=359.4><P style="margin:0px">&nbsp;</P>
</TD><TD style="margin-top:0px" valign=top width=28.667><P style="margin:0px">&nbsp;</P>
</TD><TD style="margin-top:0px" valign=top width=48.133><P style="margin:0px">Title:</P>
</TD><TD style="margin-top:0px" valign=top width=284.133><P style="margin:0px">Chief Executive Officer</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=359.4><P style="margin:0px">&nbsp;</P>
</TD><TD style="margin-top:0px" valign=top width=28.667><P style="margin:0px">&nbsp;</P>
</TD><TD style="margin-top:0px" valign=top width=48.133><P style="margin:0px">&nbsp;</P>
</TD><TD style="margin-top:0px" valign=top width=284.133><P style="margin:0px">Chief Financial Officer</P>
</TD></TR>
</TABLE>
<DIV style="width:720px"><P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; text-indent:48px">Pursuant to the requirements of Regulation A, this report has been signed below by the following persons on behalf of the issuer and in the capacities and on the dates indicated.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<TABLE style="margin-top:0px; font-size:10pt" cellpadding=0 cellspacing=0><TR height=0 style="font-size:1pt"><TD width=144 ></TD><TD width=25.2 ></TD><TD width=382.2 ></TD><TD width=24.267 ></TD><TD width=144.333 ></TD></TR>
<TR><TD style="margin-top:0px; border-bottom:1.333px solid #000000" valign=top width=144><P style="margin:0px; padding:0px">/s/ David Sobelman</P></TD><TD style="margin-top:0px" valign=top width=25.2><P style="margin:0px">&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=382.2><P style="margin:0px; margin-right:46.2px">Chief Executive Officer, Chief Financial Officer, and </P>
</TD><TD style="margin-top:0px" valign=top width=24.267><P style="margin:0px">&nbsp;</P>
</TD><TD style="margin-top:0px" valign=top width=144.333><P style="margin:0px">September 28, 2016</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=144><P style="margin:0px">David Sobelman</P>
</TD><TD style="margin-top:0px" valign=top width=25.2><P style="margin:0px">&nbsp;</P>
</TD><TD style="margin-top:0px" valign=bottom width=382.2><P style="margin:0px">Director (Principal Executive Officer, Principal Financial Officer, and Principal Accounting Officer)</P>
</TD><TD style="margin-top:0px" valign=top width=24.267><P style="margin:0px">&nbsp;</P>
</TD><TD style="margin-top:0px" valign=top width=144.333><P style="margin:0px">&nbsp;</P>
</TD></TR>
</TABLE>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>

<P style="margin:0px" align=center>- 10 -</P>

<HR noshade align="center" width="100%" size="2">
</DIV>
</BODY>
</HTML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
