Annual Report

 false 2024 FY 0001121795

 2023-12-29

 2024-09-23

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 2021-09-29
 2021-09-30

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 2023-10-02

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 2023-10-01
 2023-10-02

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 2024-04-01

 UNITED STATES

 SECURITIES AND EXCHANGE COMMISSION

 Washington, D.C. 20549

 FORM 10-K

ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 For the fiscal year ended June 30, 2024

 Or

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 For the transition period from ___________ to ___________

 Commission file number: 000-31705

 (Exact name of registrant as specified in charter)

 Delaware

 91-2007477

 (State or other jurisdiction of

incorporation or organization)

 (I.R.S. Employer

Identification No.)

 667 Madison Avenue 5th Floor

 New York, NY

 10065

 (Address of principal executive offices)

 (Zip Code)

 +1 ( 212) 634-6860

 (Registrant's telephone number, including area code)

 Securities registered pursuant to Section 12(b) of
the Act: None

 Securities registered pursuant to Section 12(g) of the Act: Common
stock, par value $0.001 per share

 Indicate by check mark if the registrant is a well-known
seasoned issuer, as defined in Rule 405 of the Securities Act. Yes No

 Indicate by check mark if the registrant is not required
to file reports pursuant to Section 13 or 15(d) of the Act. Yes No

 Indicate by check mark whether the registrant (1)
has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months
(or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements
for the past 90 days. Yes No

 Indicate by check mark whether the registrant has
submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405
of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes No

 Indicate by checkmark whether the registrant is a
large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of "large
accelerated filer," "accelerated filer" and "smaller reporting company" in Rule 12b-2 of the Exchange Act.

 Large accelerated filer

 Accelerated filer

 Non-accelerated filer

 Smaller reporting company

 Emerging growth company

 If an emerging growth company, indicate by check mark
if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standard
provided pursuant to Section 13(a) of the Exchange Act.

 Indicate by check mark whether the registrant
has filed a report on and attestation to its management's assessment of the effectiveness of its internal control over financial
reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or
issued its audit report.

 If securities are registered pursuant to
Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the
correction of an error to previously issued financial statements.

 Indicate by check mark whether any of those
error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant's
executive officers during the relevant recovery period pursuant to §240.10D-1(b).

 Indicate by check mark whether the registrant is a
shell company (as defined in Rule 12b-2 of the Act). Yes No

 The aggregate market value of the voting and non-voting common equity held
by non-affiliates of the registrant, as of December 29, 2023, the last business day of the registrant's most recently completed
second fiscal quarter, was approximately $ 3,407,776 based upon the last sales price of the common stock as of such date. Solely
for purposes of this disclosure, shares of common stock held by executive officers, directors and beneficial holders of 10% or more of
the outstanding common stock of the registrant as of such date have been excluded because such persons may be deemed to be affiliates.

 As of September 23, 2024, the issuer had 130,201,179
shares of its common stock, $0.001 par value per share, outstanding.

 Audit
 Firm Id

 Auditor
 Name:

 Auditor
 Location:

 5525

 Fruci & Associates II, PLLC

 Spokane, WA

 PAGE

 Item 1

 Business

 Item 1A

 Risk Factors

 Item 1B

 Unresolved Staff Comments

 Item 1C

 Cybersecurity

 Item 2

 Properties

 Item 3

 Legal Proceedings

 Item 4

 Mine Safety Disclosures

 Item 5

 Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

 Item 6

 [Reserved]

 Item 7

 Management's Discussion and Analysis of Financial Condition and Results of Operations

 Item 7A

 Quantitative and Qualitative Disclosures About Market Risk

 Item 8

 Financial Statements and Supplementary Data

 Item 9

 Changes in and Disagreements With Accountants on Accounting and Financial Disclosure

 Item 9A

 Controls and Procedures

 Item 9B

 Other Information

 Item 9C

 Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

 Item 10

 Directors, Executive Officers and Corporate Governance

 Item 11

 Executive Compensation

 Item 12

 Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

 Item 13

 Certain Relationships and Related Transactions, and Director Independence

 Item 14

 Principal Accounting Fees and Services

 Item 15

 Exhibits, Financial Statement Schedules

 Item 16

 Form 10-K Summary

 i

 ITEM 1. BUSINESS.

 Cautionary Note Regarding Forward Looking Statements

 This annual report on Form 10-K (this "Report")
contains forward-looking statements including statements regarding the Company's patents, the development, marketing and sale of
its products including its Smart Shin Guard, the implementation of its business plan and expected timelines for meeting its objectives,
intentions and efforts for the potential development of new business opportunities, anticipated or potential future revenue and projections
for our business, the need for capital to fund and grow its operations, and liquidity. Forward-looking statements can be identified by
words such as "anticipates," "intends," "plans," "seeks," "believes," "estimates,"
"expects" and similar references to future periods. Forward-looking statements are based on our current expectations and assumptions
regarding our business, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject
to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Our actual results may differ materially
from those contemplated by the forward-looking statements. We caution you therefore against relying on any of these forward-looking statements.
They are neither statements of historical fact nor guarantees or assurances of future performance. The results anticipated by any or all
of these forward-looking statements might not occur. Important factors, uncertainties and risks that may cause actual results to differ
materially from these forward-looking statements are summarized in the "Summary of Risk Factors" below and are more particularly
described in Item 1A. - Risk Factors. We undertake no obligation to publicly update or revise any forward-looking statements, whether
as the result of new information, future events or otherwise.

 History

 GHST World Inc. ("GHST" or the "Company")
was organized on November 12, 1999, as a Nevada corporation.

 On September 21, 2017 we changed our name to "GHST
World, Inc." On March 9, 2021 we filed a registration statement on Form 10 (File No. 000-31705) (the "Form 10") to register
our common stock pursuant to Section 12(g) of the Exchange Act. The Form 10 as amended became effective on May 8, 2021.

 On April 3, 2019, we formed GHST Sport Inc. ("GHST
Sport") as a wholly-owned subsidiary of the Company and shifted our business focus to the marketing and sale of technologically-enhanced
sports equipment and the acquisition and development of related intellectual property. To that end, on June 30, 2020 we obtained a U.S.
patent for our Smart Shin Guard, and in October 2022 we obtained a European patent in Europe which covers five countries (Italy, France,
Spain, Germany and the United Kingdom).

 On June 29, 2019, the Company
acquired all of the capital stock of GHST Art World Inc., a Florida corporation ("GHST Art"), whose principal assets consisted
of 119 art paintings and reproductions. GHST Art has not sold any of these items or generated any revenue.

 In April 2019, we formed IoTT World Inc. ("IoTT"),
which is an acronym for "Internet of Things Tech," as our wholly-owned subsidiary which focuses on the research and development
of technology and products designed to connect common household and other electronic devices using the Internet. IoTT is still in the
early stages of development. IoTT World Inc. will manage the data platform for all sports resulting from the recently signed a joint venture
agreement with the cross-Ing, an artificial intelligence (AI) company, as described below at page 2. IoTT has not sold any of these items
or generated any revenue.

 In April 2023, the Company formed InSSIDe World, Inc.
("InSSIDe"), a Florida corporation, as its wholly-owned subsidiary, as a development stage business which is which is in the
early stages of exploring potential business opportunities.

 We currently have minimal assets other than our patented
technology and are relying on the ability to raise the necessary capital to exploit the patents we acquired for the Smart Shin Guard.
We plan to market and sell this product to athletes, sports teams, organizations and leagues, with an initial focus on professional and
amateur soccer (football) teams and leagues, both within the U.S. and abroad.

 We have not yet generated significant revenue from
any of our current products and have relied upon issuances of shares of our common stock and related party loans to fund our operations.
We continue to develop our Smart Shin Guard and related technology, including a smart phone application, as more particularly described
below.

 Our management and directors are based in Italy and
other European countries and serve on a part-time basis. We have no full-time employees.

 Acquisition of Intellectual Property Rights to
the Smart Shin Guard

 In 2018, the Company acquired the rights to the 2015
Italian patent and underlying concept for the Smart Shin Guard in exchange for 2,000,000 shares of common stock which were issued in December
2021. The Company has since been issued a U.S. patent (Patent No. US 10,695,651 B2; "Protection Device for Carrying Out Sports Activities
Usable in Data Analysis and Monitoring System, and Relative System and Method for Processing and Calculating the Sent Data") for
the Smart Shin Guard. In October 2022 we received confirmation of the assignment of the European patent for the Smart Shin Guard. In March
2023 we were granted a patent for the Smart Shin Guard in Hong Kong, however we subsequently determined to abandon that patent.

 The patents contemplate potential application of the
invention within other forms of athletic equipment outside of shin guards used in soccer or similar sports. We may consider expanding
our technology to other applications of the invention in the sporting world depending on the results our efforts to market and sell the
Smart Shin Guard.

 The Smart Shin Guard

 The Smart Shin Guard is a shin guard, which is a form
of protective equipment placed on the front portion of the lower leg while playing soccer and similar sports, combined with our data collection
and analysis technology that monitors players' individual and collective physical and performance-based metrics and transmits this
information to a separate module in real-time. Examples of the information the Smart Shin Guard can collect and analyze for users is covered
distance, acceleration, kicking force, collision impact, positioning, directional movement, and performance alerts. This information will
vary depending on the version of the product that is used, which will depend on the customers and their particular purposes for using
the Smart Shin Guard.

 The product is designed for use by teams and individuals
to enhance their ability to track player performance, stamina, and conditioning at matches, practices or any other circumstance in which
they desire to play the sport. We believe the Smart Shin Guard will provide valuable insight to players, coaches and organizations seeking
to gain a competitive advantage over their opponents be assisting with in-game monitoring and pre- and post-game assessment and strategy
using our technology. Our goal is to empower coaches, players and teams to make faster and potentially in-game decisions regarding their
players, team and strategies in reaction to the data provided and obtain an advantage therefrom that helps them achieve their objectives,
both individually and in the leagues in which they compete. Additionally, we believe this product has attractive features for more casual
players seeking to track their individual performances for educational, informational, or health-related purposes.

 Product Development

 The Company completed the Beta testing of the functionality
of the Smart Shin Guard in July 2024, and we are seeking to complete final development processes so we can begin producing and selling
the product. These processes have been delayed due to our limited capital.

 In connection with our development efforts for the
Smart Shin Guard, on September 23, 2023, we entered into a joint venture agreement with cross-ING, an AI development company, which contemplates
further development of the Smart Shin Guard for soccer and for other sports, with a particular view to developing software for the smart
phone application and expanding the products' use to other sports in addition to soccer. In exchange for these services, we have
agreed to pay the service provider the following (i) 40,000 Swiss Francs (approximately $44,068 U.S. Dollars) per milestone achieved under
the agreement as determined by a "steering group" comprised of senior representatives from each party, (ii) 4,476,176 shares
of the Company's common stock, and (iii) royalty payments of 1 Swiss Franc (approximately $1.10 U.S. Dollars) per unit sold, for
up to 150,000 units.

 We are currently seeking vendors to further develop
the Smart Shin Guard with the goal of beginning marketing of the product in 2025. To do so, we need to determine and complete the specifications
for our product and begin production of a completed product in collaboration with our vendor, which may entail, among other things, obtaining
sufficient additional capital. We are also in search of other strategic alliances and potential business opportunities to develop and
enhance our business plan and intended product offerings.

 For more information on these and other contemplated
features of our Smart Shin Guard, see "Applications and Uses."

 Applications and Uses

 We plan to sell two versions of the Smart Shin Guard
which will vary in terms of sophistication of features offered and target demographics of users:

 Consumer Kit

 The standard version which collects data and provides
analysis on basic physical and performance metrics, including covered distance, instantaneous and average speed, movement and direction,
acceleration and deceleration, kicking power, shot, pass, tackle, and header identification, and performance alerts. The consumer kit
is designed for athletes at all levels ranging from casual players to amateur and professional athletes. The remote access to the information
and analysis provided can be accessed by coaches, teammates, friends and family. We expect for the development of the consumer kit, including
the corresponding smart phone application, to be completed before the more advanced professional kit described below.

 Professional Kit

 An advanced version which will be more sophisticated
in terms of the types of data collected and the level of analysis and computation. In addition to the statistics available with the consumer
kit, the professional kit allows users to collect information on calorie consumption, metabolic power, elevation distance, directional
changes and angles, heart rate, positioning map, and team barycenter, which is the center of gravity of a game. The professional kit is
designed for and will be marketed primarily toward professional athletes and teams. The development of the professional kit will be a
longer process than the consumer kit due to factors including increased sophistication and technical complexity of the data collection
and analysis capabilities, contractual terms and limitations in our human and capital resources.

 Smart Phone Application

 The Company is in the process of developing a smart
phone application ("phone app") for use by customers using the Smart Shin Guard. The phone app will function by receiving
and displaying data collected and processed by the Smart Shin Guard. When developed, the phone app will be essential for use in connection
with the consumer kit, to the extent such consumers intend to review and use the data provided in real time while training or playing
in games. We have developed a prototype of the phone app for the consumer kit, and development for the professional kit, as well as additional
continued efforts to improve the application generally, remain ongoing.

 Other Subsidiaries

 Other than GHST Sport, we have three other subsidiaries.
These subsidiaries are still in the developmental stages and do not currently contribute to our business in a significant manner. However,
some or all of these subsidiaries may have a more central role in our business in the future, provided we can access the necessary capital,
form strategic relationships and otherwise develop and execute a business plan for such subsidiaries. Below is a brief description of
each subsidiary.

 InSSIDe World Inc.

 InSSIDe World, Inc., our wholly-owned subsidiary,
is a development stage business which is in the early stages of exploring potential business opportunities.

 GHST Art World Inc.

 GHST Art is our wholly-owned subsidiary which we acquired
on June 29, 2019, together with its portfolio of 119 art paintings and reproductions as its principal assets. We have not sold any of
these assets. We are also developing a virtual artist "incubator" and art trading platform and network to assist emerging
artists increase their visibility and locate and procure sales of their artwork to consumers. GHST Art is also in the process of founding
an online newspaper, and will also provide information on the group's activities. These concepts are still in the development stage and
we do not expect to bring them to market or generate revenue therefrom in the short term.

 IoTT World, Inc.

 IoTT, which is an acronym for "Internet of Things
Tech," is our wholly-owned subsidiary which, with the signing of the joint venture agreement with the AI company cross-Ing, is planning
to provide a series of data platforms for all sports programmed in the joint venture agreement, and no longer just a platform for our
SSGs related to soccer. This concept is still in the development stage and we do not expect to bring it to market or generate revenue
from it in the short term.

 The first database will be for our SSG a database
sector in which all the data collected per user of those who buy and wear our SSGs will converge, so that they can be consulted, for a
fee, by insiders such as coaches, athletic trainers, technical sports directors, and others involved with the player/team, or by the players
themselves, thus creating a large sports database for use in all sports.

 Competition

 With respect to GHST Sport, we will compete directly
with sports equipment and apparel developers, wholesalers and retailers, as well as other businesses offering player and team tracking
technology, some of which sell similar products to ours, and many of which have significantly greater capital and human resources than
we do. For example, we face competition from other businesses which provide smart data tracking and collection technology in the form
of wearable sporting equipment, including Soccerment and TibTop, each of which offers wearable shin guards, and Catapult Sports, which
offers similar wearable devices, with some level of data collection, analysis and transmission functionalities. Additionally, other sports
already deploy similar technology in their gameplay, which have the ability or potential to be expanded to other uses, including soccer.
For example, in American football Zebra Technology provides equipment with motion and data tracking systems similar to the functions our
product is designed to offer at the professional level, and Zebra and other companies provide similar technology at the collegiate and
lower levels. These competitors could enter our target markets and/or seek to prevent us from entering those markets using our technology.

 Although our Smart Shin Guard technology uses patented
features and processes and we believe the depth of information it can collect, analyze and transmit provides us with an advantage over
certain of our prospective competitors, there can be no guarantee that our competitors have not or will not develop and sell technology
that is similar or superior to ours and/or that will hinder or limit our ability to access the markets we plan to target. Further, with
respect to the phone app for the Smart Shin Guard, there is at least one other similar application called Goalon which allows users to
track certain performance metrics directly on their cellular device, and there may be others currently in the market or that are being
or may be developed that we will compete with. Additionally, some sporting equipment companies and service providers offer technology
or services using different means, such as cameras that collect and transmit team and player data in a manner similar to ours, could be
seen as competitors. Offerings of similar equipment and technology to our Smart Shin Guard by any of these competitors will likely create
a barrier to market entry for our product and/or render it difficult to develop or grow a customer base, particularly to the extent our
potential customers and users have already integrated competitor products and services. Further, while we are not aware of similar wearable
devices that are approved by soccer leagues for in-play usage, we have also not obtained such approval for the Smart Shin Guard ourselves,
and there can be no assurance that such approval will be obtained.

 With respect to GHST Art, we expect to face competition
from niche art platforms and galleries as well as larger platforms on which artists can display their works, such as Instagram and Facebook.
Among our more direct competitors in the artist accelerator and marketing platform businesses are Looklateral, Koones, Lean Artist, Mecenate.online,
Rise Art and Saatchi Art. Many of our competitors in this field have access to greater financial resources and business networks and more
experience in the industry, which will pose challenges to any future operations and barriers to market entry and growth.

 With respect to IoTT, a variety of technology research
and development companies have already made headway on connecting various devices and otherwise making life easier for consumers using
the internet and artificial intelligence. The market is currently saturated with such products, and with companies seeking to develop
and evolve such products and underlying concepts as to enhance their functionality. In light of these market conditions and the intense
competitive environment in this area, competition will be intense, as will risks inherent therewith including the reality that many competitors
have more capital, experience and progress with respect to their offerings than we do and that we may face difficulty in obtaining or
protecting intellectual property rights or avoiding the infringement of others in our operations of IoTT.

 Employees

 We currently have no full-time employees. Our officers
provide services on a part-time basis.

 Status as an Emerging Growth Company

 Because we have nominal revenues and have never had
a registration statement under the Securities Act of 1933 become effective, we are an emerging growth company. An emerging growth company
is defined as a company which had annual gross revenues were less than $1.07 billion during its most recently completed fiscal year and
have never sold common equity securities under a registration statement. We will continue to be an emerging growth company until the earlier
of: (i) the last day of the fiscal year of the Company during which we had total annual gross revenues of $1.07 billion or more; (ii)
the last day of the fiscal year of the Company following the fifth anniversary of the date of the Company's first sale of common
equity securities of pursuant to an effective registration statement under the Securities Act; (iii) the date on which the Company has,
during the previous three-year period, issued more than $1 billion in non-convertible debt; or (iv) the date on which the Company is deemed
to be a "large accelerated filer" as that term is defined in Rule 12b-2 promulgated under the Exchange Act.

 The federal securities laws and regulations provide
certain exemptions for emerging growth companies with respect to financial information and disclosure requirements in registration statements
and periodic reports and certain activities in connection with initial public offerings. The exemptions available to us as a result of
our status as an emerging growth company are summarized as follows:

 Unlike other reporting companies, we are not required to hold periodic shareholder voting on executive compensation, the frequency of shareholder voting of executive compensation, and golden parachute compensation.

 We are permitted to include less extensive narrative disclosure in our reports filed with the SEC than is required of other reporting companies, particularly in the description of executive compensation.

 We are not required to include a report of our independent registered public accounting firm on the Company's internal control over financial reporting in our SEC filings.

 We would not be required to comply with new or revised financial accounting standards until private companies (e.g., those that have not had a Securities Act registration statement declared effective and do not have a class of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting standards.

 We would be exempt from any requirement adopted by the Public Company Accounting Oversight Board in the future providing for a mandatory rotation of companies' accounting firms.

 We are permitted to submit a registration statement under the Securities Act to the SEC on a confidential basis if the registration statement and all amendments are publicly filed at least 21 days before we were to conduct any road show with respect to such offering.

 We may communicate with prospective investors that are qualified institutional buyers or institutions that are accredited investors to determine interest in a contemplated offering either prior to or after filing a registration statement under the Securities Act.

 Some of the above-described exemptions are also available
to smaller reporting companies, and therefore a termination of our status as an emerging growth company would not necessarily result in
a requirement that we comply with the default disclosure requirements applicable to reporting companies generally.

 We have elected not to use the extended transition
period for complying with any new or revised accounting standards under Section 102(b)(1) of the Exchange Act.

 ITEM 1A. RISK FACTORS.

 Investing in our common stock involves a high degree
of risk. You should carefully consider the following risk factors before deciding whether to invest in the common stock. If any of the
events discussed in the risk factors below occur, our business, financial condition, results of operations or prospects could be materially
and adversely affected. In such case, the value and marketability of the common stock could decline, and you might lose all or part of
your investment.

 Summary of Risk Factors

 Our business is subject to numerous risks and uncertainties
that you should consider before investing in our common stock. Some of the principal risk factors that make an investment in the Company
speculative or risky are summarized as follows:

 We have generated no material revenue during the last three fiscal years or current fiscal year, and in order to continue as a going concern we require additional capital either through a debt or equity financing.

 We are still in the process of developing our Smart Shin Guard, which is our principal product the development of which has been a lengthy and uncertain process for which we have failed to meet internal forecasts on multiple occasions, and there can be no assurance we will be successful in completing such development or that we can successfully market this product once developed.

 We have a limited operating history and our likelihood of success is contingent upon the problems, expenses, and complications frequently encountered by development stage companies.

 We may have or discover in the future material weaknesses in our internal controls and may face difficulties remediating any such weaknesses;

 In order to generate material revenue, we will need to successfully develop and market our products and services, including the Smart Shin Guard which is our principal product and is still under development;

 Our business is dependent upon our intellectual property which we may be unable to obtain or protect without incurring significant expenses or at all.

 We may become involved in litigation to defend our intellectual property or to defend against infringement claims from third parties, which would be expensive and time consuming and could materially adversely affect our business.

 We are highly dependent on a small number of key personnel, the loss of whom would materially adversely affect our business.

 The industry in which we principally operate is highly competitive, and most of our competitors have greater financial and other resources and capital raising abilities than we do, which will render our efforts to establish a market for our brand and products, including our Smart Shin Guard, particularly challenging.

 Because we will be reliant on a single product, if we are unable to establish a market for our product and generate material revenue, this lack of diversification will be difficult to overcome and investors could lose some or all of their investment.

 There is currently no active market for our securities, there can be no assurance that such a market will ever develop, and the future prices and liquidity of our securities could be unpredictable and volatile.

 Certain events have caused and may continue to cause disruptions in our business and industry, which may hinder our progress and growth prospects.

 Risks Related to the Company

 Our ability to continue as a going concern is in
doubt absent obtaining adequate new debt or equity financing.

 We have limited capital and have accumulated losses
through June 30, 2024, of $13,881,949 since inception. Because we do not have sufficient working
capital and cash flows for continued operations for at least the next 12 months, our auditors have issued an opinion with an explanatory
paragraph regarding our ability to continue as a going concern. Our continued existence is dependent upon us or obtaining the necessary
capital to meet our expenditures. We cannot assure you that we will be able to raise adequate capital to meet our future working capital
needs.

 Because we expect to need additional capital to
fund our growing operations, we may not be able to obtain sufficient capital and may be forced to limit the scope of our operations.

 We currently need substantial working capital. The adverse impacts
on the global economy or any subsequent or further financial hardship caused by the geopolitical conflicts in Ukraine and Israel, or a
resurgence of inflation and increased central banks interest rates in response, along with any recession or market downturn which result,
could adversely affect our ability to raise capital. If adequate additional debt and/or equity financing is not available on reasonable
terms or at all, we may not be able to remain in business, and we will have to cease operations.

 Even if we secure the necessary working capital, we
may not be able to negotiate terms and conditions for receiving the additional capital that are acceptable to us. Any future equity capital
investments will dilute existing shareholders. In addition, new equity or convertible debt securities issued by us to obtain financing
could have rights, preferences and privileges senior to our common stock. We cannot give you any assurance that any additional financing
will be available to us, or if available, will be on terms favorable to us.

 If we are not successful, you may lose your entire
investment.

 Prospective investors should be aware that if we are
not successful in our new business, their entire investment in the Company could become worthless. Even if the Company is successful,
we can provide no assurances that investors will derive a profit from their investment. Even if we can raise sufficient capital or generate
revenue, we cannot guarantee any resulting proceeds to us will be sufficient for us to grow our operations and become profitable. In past
periods we have failed to meet anticipated or desired milestones for our product development within the timelines originally projected,
in part due to our limited capital and other resources as well as external factors. These delays and limitations raise questions as to
our ability to achieve our goals within the time periods desired or at all. If we are not successful, you may lose your entire investment.

 Because we have a limited operating history to
evaluate our company, the likelihood of our success must be considered in light of the problems, expenses, difficulties, complications
and delay frequently encountered by a new company.

 Since we have a limited operating history under our
current business model, which we are frequently adjusting in pursuit of new business opportunities, it is difficult for investors to evaluate
our business and prospects. You must consider our prospects in light of the risks, expenses and difficulties we face as an early stage
company with a limited operating history. Investors should evaluate an investment in our company in light of the uncertainties encountered
by start-up companies in a highly competitive industry such as ours, which contains significant barriers to market entry. There can be
no assurance that our efforts will be successful or that we will be able to attain profitability.

 Because GHST is in the development stage of each
of its planned businesses and its business plan is unproven, we may fail to generate material revenue or achieve profitability.

 GHST is relying primarily upon its U.S. patented sports
equipment technology which we intend to market and sell in the U.S. and foreign athletic markets to individual players, teams and organizations
interested in the Smart Shin Guard's data collecting capabilities. We have not sold our products, and do not presently have inventory
available for sale. Our development process for the Smart Shin Guard has repeatedly been delayed from original projected timeframes due
to our small size and lack of capital. If this trend continues and we fail to commercialize the product before our patents expires in
our target markets, we could fail to generate material revenue or establish brand recognition necessary to achieve our goals and provide
value to our shareholders. We cannot assure you that assuming we obtain sufficient financing, we will be able to successfully market our
product in any of the target countries, derive any material revenue or attain profitability. Further, with the addition of InSSIDe World
which is in its early stages of developing a business plan for potential new business opportunities, in addition to our legacy focus on
the Smart Shin Guard and the other early stage businesses we are developing or considering as described in this Report, our management
team may be divided among multiple projects, and may be unable to allocate and use our limited resources in an efficient or effective
manner. Further, each industry in which we seek to operate through the aforementioned businesses and business plans poses unique challenges,
including intense competition, regulatory requirements, and limitations on qualified personnel and market opportunity, which gives rise
to further risks and uncertainties that are particularly present for us as we continue in the early development stage of each prospective
business. If we are not successful in marketing the Smart Shin Guard and/or developing other business as presently intended, it is likely
that you will lose your entire investment.

 Because our business model is new, our growth strategy
may not be achievable and may not result in profitability.

 We may not be able to implement our growth strategy
reflected in our business plan rapidly enough as to achieve profitability. Our growth strategy is dependent on a number of factors, including
market acceptance of the Smart Shin Guard. We cannot assure you that consumers and others will purchase the Smart Shin Guard or that a
sufficient market demand for our product will develop for us to generate revenue or become profitable.

 Among other things, implementation of our growth strategy
would be adversely affected by the following:

 we may not be able to attract sufficient customers/subscribers for our product(s);

 our research and development, manufacturing and marketing costs may be materially more than we anticipate which will affect our future gross profit margins;

 a decline in general market conditions may prevent us from successfully establishing a customer base or raising capital as required;

 if our product proceeds to the commercialization phase, we may fail to adequately protect or maintain our intellectual property, especially if the development phase continues to be delayed or prolonged;

 we may face significant
 litigation from competitors with intellectual property rights for products that are similar to ours, the occurrence of which would
 not only divert our management's time and attention, but involve prohibitive legal and other defense costs; and

 because we do not have any agreements to manufacture
our products, our future costs may impact our ability to price our products at a level which generates future sales.

 Our business will depend,
to a large extent, upon our intellectual property.

 We rely on our patents in
certain jurisdictions to protect our Smart Shin Guard technology. These patents and any future patent(s) we can obtain will be critical
to our ability to market our product in applicable jurisdictions without the risk of reverse engineering of our technology. In the event
that we are unable to secure, maintain or enforce such patents, the marketability and viability of our product could be adversely affected,
including by being vulnerable to reverse engineering in any jurisdiction where the patent did not issue. While we received the patent
grants in U.S., Italy, France, Spain, Germany and the United Kingdom, there can be no assurance that other patents needed to pursue our
goals and achieve our objectives will be secured or maintained. For example, while in October 2022 we received approval of our European
patent application covering up to 36 countries, in 2023 we made the decision to limit payment of the corresponding fees to receive the
official patent grant to select jurisdictions within Europe, while allowing the patents to lapse in other European jurisdictions for failure
to pay the fee, in order to manage costs. Further, we were granted a patent in Hong Kong in March 2023 but subsequently abandoned that
patent. We cannot predict with certainty the potential consequences of this course of action for our future operations in Europe and Asia.
In the event we are unable to obtain, maintain or protect our patents and the intellectual property related to our technology, the value
of our intellectual property and our ability to generate revenue therefrom could be materially adversely affected.

 If we cannot protect intellectual property rights
related to our current or future products, we may not be able to compete effectively in our markets.

 We rely upon a combination of patents, trade secret
protection and confidentiality agreements to protect the intellectual property related to our current or future products. The strength
of our patent in the sports logistics and technology field involves complex legal questions and can be uncertain. Our international patents
may fail to result in adequate protection in the countries in which we desire to market and sell our products. Even for our issued patents,
third parties may challenge their validity, enforceability or scope, which may cause such patents to be narrowed or invalidated. Even
if unchallenged, our patents and may not adequately protect our intellectual property or prevent others from designing around our claims.

 If we fail to maintain, monitor or enforce patents
we hold or if their breadth or strength of protection is threatened, it could threaten our ability to commercialize our products. Issued
patents may be found invalid and unenforceable or challenged by third parties. Patents have a limited lifespan. In the United States,
the natural expiration of a patent is 20 years after it is filed, although various extensions may be available. The life of a patent,
and the protection it affords, is limited. When the patent life has expired for a product, we will become vulnerable to competition from
similar products or generic versions attempting to replicate our Smart Shin Guard or other products we may develop or acquire in the future.
Further, if we continue to experience delays in our product development efforts, and/or encounter delays in production, distribution or
in regulatory or league approvals, the time during which we will be able to market and commercialize a product candidate under patent
protection could be significantly reduced, and as a result we may be unable to establish material or consistent revenue streams, brand
recognition or markets for our product before competitors use our designs or processes to market similar products.

 In addition to patent protection, we rely on trade
secret protection and confidentiality agreements to protect proprietary know-how that is not patentable, processes for which patents are
difficult to enforce and any other elements of our product development processes that involve proprietary know-how, information or technology
not covered by patents. As a general practice, our employees, consultants, advisors and any third parties who have access to our proprietary
know-how, information or technology enter into confidentiality agreements. Nonetheless, our trade secrets and other confidential proprietary
information may be disclosed and competitors may otherwise gain access to our trade secrets or independently develop substantially equivalent
information and techniques.

 The laws of some foreign countries do not protect
proprietary rights to the same extent or in the same manner as the laws of the United States. We may encounter significant problems in
protecting and defending our intellectual property both in the United States and abroad, particularly given our present business plan
involves marketing and sales efforts on countries located outside of the United States. If we are unable to prevent material disclosure
of the non-patented intellectual property related to our technologies to third parties, and there is no guarantee we will have any such
enforceable trade secret protection, we may not be able to establish or maintain a competitive advantage in our market, which could materially
adversely affect our business, results of operations and financial condition.

 Third-party intellectual property infringement
claims may prevent or delay our development and commercialization efforts.

 Our commercial success depends in part on our avoiding
infringement on the patents and proprietary rights of third parties. There is substantial technology litigation, both within and outside
the United States, involving patent and other intellectual property rights, including patent infringement lawsuits, interferences, oppositions,
and reexaminations and other post-grant proceedings before the U.S. Patent and Trademark Office, and corresponding foreign patent offices.
U.S. and foreign issued patents and pending patent applications, which are owned by third parties, may exist in the fields in which we
are pursuing patents for our product. As the sports logistics and technology industries expand and more patents are issued, the risk increases
that our products may be subject to claims of infringement of the patent rights of third parties.

 Third parties may assert that we are employing their
proprietary technology without authorization. There may be third-party patents or patent applications with claims to materials, concepts,
or methods of manufacture related to the use or manufacture of our products. Because patent applications can take many years to issue,
there may be patent applications currently pending that may later result in patents that our products may infringe. Third parties may
obtain patents in the future and claim that use of our technologies infringes on these patents. If any third-party patents were to be
held by a court of competent jurisdiction to cover the manufacturing process of our products, the holders of any such patents may be able
to block our ability to commercialize such products unless we obtained a license under the applicable patents, or until such patents expire.
Similarly, if any third-party patents were to be held by a court of competent jurisdiction to cover aspects of our concepts, processes
for manufacture or methods of use, the holders of any such patents may be able to block our ability to develop and commercialize the applicable
product unless we obtained a license or until such patent expires. In either case, such a license may not be available on commercially
reasonable terms or at all.

 Parties making intellectual property claims against
us may obtain injunctive or other equitable relief, which could block our ability to further develop and commercialize our products. Defense
of these claims, regardless of their merit, involves substantial litigation expense and would involve a substantial diversion of our management's
attention from our business. Because of the costs involved in defending patent litigation, we currently lack and may in the future lack
the capital to defend our intellectual property rights. If a claim of infringement against us succeeds, we may have to pay substantial
damages, possibly including treble damages and attorneys' fees for willful infringement, pay royalties, redesign our infringing
products or obtain one or more licenses from third parties, which may be impossible or require substantial time and monetary expenditure.

 We may be involved in lawsuits to protect or enforce
our patents or other intellectual property rights, which could be expensive, time-consuming and unsuccessful.

 We rely on a patent on the Smart Shin Guard to protect
our intellectual property rights. In the United States, we have a patent and also have patents in certain jurisdictions in Europe. Competitors
may infringe our patents or otherwise take action against our intellectual property rights. To counter such infringement, interference
or similar adverse occurrence, we may be required to file infringement or similar claims, or we may be required to defend the validity
or enforceability of our intellectual property rights, including our patents, which can be expensive and time-consuming and may force
us to divert our limited resources. In an infringement proceeding, a court may decide that either one or more of our patents is not valid
or is unenforceable, or may refuse to stop the other party from using the technology at issue because our patents do not cover that technology.
An adverse result in any litigation or defense proceedings could put one or more of our patents at risk of being invalidated or interpreted
narrowly and could put our patent applications at risk of not issuing. Any difficulties or inability to obtain or maintain a patent in
a jurisdiction for which we hold or seek patent protection would materially adversely harm our business.

 Interference proceedings provoked by third parties
or brought by us may be necessary to determine the priority of inventions regarding our patents. An unfavorable outcome could require
us to cease using the related technology or to license rights to it from the prevailing party. Our business could be harmed if the prevailing
party does not offer us a license on commercially reasonable terms or at all. Our defense of litigation or interference proceedings may
fail and, even if successful, may cause us to incur substantial costs and distract the attention of our management and other employees.
We may not be able to prevent misappropriation of our intellectual property rights, particularly in countries where the laws may not protect
those rights as fully as in the United States.

 Because of the substantial amount of discovery required
in intellectual property litigation, there is a risk that some of our confidential information could be compromised by disclosure during
this type of litigation. There could also be public announcements of the results of hearings, motions or other interim proceedings or
developments. If investors perceive these results to be negative, it could have a material adverse effect on the price of our securities.

 We may be subject to claims that our employees,
consultants or independent contractors have wrongfully used or disclosed confidential information of third parties.

 We may be subject to claims asserting that we or our
employees, consultants or independent contractors have inadvertently or otherwise used or disclosed confidential information of our employees'
former employers or other third parties. We may also be subject to claims that former employers or other third parties have an ownership
interest in our patents. Litigation may be necessary to defend against these claims. There is no guarantee of success in defending these
claims, and if we succeed, litigation could cause substantial cost and be a distraction to our management and other employees.

 If we cannot manage our growth effectively, we
may not become profitable.

 Businesses, including development stage companies
such as ours which often grow rapidly, tend to have difficulty managing their growth. If we are able to successfully market our products
and services, we will likely need to expand our management team and other key personnel by recruiting and employing experienced executives
and key employees and/or consultants capable of providing the necessary support.

 As described elsewhere in this Report, in addition
to our Smart Shin Guard the development of which remains our principal business focus, we are in the process of developing and/or pursuing
business plans for InSIDDe World, GHST Art, IoTT, and each of which involves a unique business model and would take substantial time and
resources to execute and develop into a revenue generating enterprise. We cannot assure you that our management will be able to manage
our growth effectively or successfully. Our failure to meet these challenges could cause us to lose money, and your investment could be
lost.

 It may be difficult to predict our financial performance
because our quarterly operating results may fluctuate.

 Our revenue and operating results may vary significantly
from quarter-to-quarter due to a variety of factors, many of which are beyond our control. You should not rely on period-to-period comparisons
of our results of operations as an indication of our future performance. Our results of operations may fall below the expectations of
market analysts and our own forecasts. If this happens, the market price of our common stock may fall significantly. The factors that
may affect our quarterly operating results include the following:

 the rate at which we are able to develop and distribute our product;

 the usage by subscribers of our interactive technology;

 seasonal patterns in the athletic and sporting goods industry and other industries we target;

 worsening economic conditions such as those caused by inflation and interest rate hikes in response which cause customers to reduce spending of goods and services such as those we intend to offer;

 changes in the regulatory environment, including regulation of advertising, that may negatively impact our marketing practices;

 the adoption of new accounting pronouncements, or new interpretations of existing accounting pronouncements, that impact the manner in which we account for, measure or disclose our results of operations, financial position or other financial measures; and

 costs related to the launch or acquisition of new technologies or businesses.

 Expenditures by customers also tend to be cyclical,
reflecting overall economic conditions as well as budgeting and buying patterns of athletes, teams, leagues and the general public. Any
decline in the economy may alter teams' and players' current or prospective spending abilities or priorities and limit our
sales, or may delay sales with such prospective customers, and could materially and adversely affect our business, results of operations
and financial condition. For example, leagues operate on a seasonal basis, and may reduce or suspend their periods of activity due to
factors beyond our control, as has taken place in the past during calendar years 2020 and 2021 due to COVID-19 when many public venues
including sporting events ceased or limited public attendance in an effort to reduce the spread of the pandemic.

 We expect to rely on outside consultants and employees
who may be difficult to control and may expose to liability and/or limit our ability to grow our operations as desired or at all.

 Due to our limited capital, we will rely on the outside
consultants and employees to develop and market our products and/or expand our business models. In the event that one or more of these
consultants or employees terminates their services to with the Company, fails to follow management's instructions or becomes unavailable,
we may see adverse effects to our business and face difficulty locating and retaining suitable replacements. Further, because we will
operate in multiple countries, language barriers and complications with respect to monitoring our personnel is more likely than a more
localized approach. There can no assurance that our employees or consultants will stay with us or can be adequately controlled, or that
we will be able to retain replacements on favorable terms or at all, in which case our business could be harmed.

 We will rely on third parties to sell our products,
and if any of these third parties alter, restrict access to or discontinue their relationships with us, or experience technical difficulties,
our ability to market our product(s) would be diminished and our business, revenue and financial results could be harmed.

 We will rely on a combination of direct sales, licensing
agreements, and the use of our website to sell our Smart Shin Guard and any other products or services we have or may develop or acquire.
Similarly, we may rely on third party consultants and suppliers in any future business opportunities we may pursue. If our website or
one or more of these third parties experiences a security breach or outage, or any third party through which we sell or to whom we license
our products or services terminates or adversely modifies the terms of their engagement with us, our ability to develop and grow a customer
base decline and our ability to reach potential customers would be negatively affected, causing our revenues and financial results to
be harmed. Additionally, we could be exposed to potential liability and losses, and/or reputational harm, in the event these third parties
fail to perform as contracted or deliver products or materials that fail to meet specifications, customer expectations, or safety or other
regulatory requirements.

 Economic downturns and market conditions beyond
our control could adversely affect our business, financial condition and results of operations.

 Our business will depend on the overall demand for
our products and services, including the Smart Shin Guard and any future business opportunities we pursue, each of which can be characterized
as a "non-essential" product, and on the economic health of the markets and prospective customers we aim to access. Economic
downturns or unstable market conditions may cause prospective customers to decrease or pause their budgets, or decline to incur expenditures
on non-essential items, which could reduce spending on our product and adversely affect our business, financial condition and results
of operations. While interest rates in the U.S. and Europe have started to recede, any increase in inflation may lead to a reversal and
harm these economics. In addition, the duration of geopolitical conflicts and their impact are at best uncertain, and continuation may
result in reduced demand for our products or other adverse consequences on us and the industries in which we operate. Because our management
team is based in Italy, our operations may face enhanced exposure to risks arising from the geopolitical conflicts than our competitors
in North America or elsewhere. The U.S. and global economies appear to be potentially be approaching a recession with uncertain and potentially
severe impacts upon public companies and us. We cannot predict how this will affect our ability to continue and complete the development
of and/or market for our product, but the impact may be adverse and the duration of any such consequences are unpredictable. Among other
adverse consequences, our prospective vendors or customers, in response to a reduced access to capital or anticipated or actual reduction
and consumer spending, could elect not to engage in business with us, which would materially adversely harm our ability to generate revenue
and financial condition.

 If we are unable to meet
competitive challenges, we may not successfully market our patented product.

 There are several companies
that have developed products and technology that collect, analyze and transmit physical and performance-based information about players
and teams. While we believe our product is unique in that it is both wearable while playing and collects and quickly transmits a greater
depth of information and analysis than most comparable devices currently in the market, there can be no assurance that this feature will
be adequate to attract new customers or convince players and teams using similar or related technology from switching to the Smart Shin
Guard. Further, we will be competing for a limited number of prospective customers in the area of professional and amateur soccer, many
of whom may not be willing or able to purchase our products at the prices we desire or at all. Our competitors will include major sports
apparel firms and technology and data firms with greater name recognition and/or existing relationships with prospective customers. See
"Business-Competition at page 4. Some of these competitors offer wearable devices that are similar to ours and are already being
commercialized in professional and amateur sports. While we believe the Smart Shin Guard to have unique attributes that will render it
attractive to customers, we cannot guarantee this alone will enable us to effectively compete for the limited number of consumers in the
soccer world, particularly given the prolonged research and development processes we have underwent which have been delayed due to a lack
of sufficient capital. Further, while the development process for our Smart Shin Guard continues and until we can adequately establish
and scale production and sales capabilities, our competitors will continue to have a time advantage over us to continue to develop, improve
upon and market their competing or alternative products and reduce or limit our ability to compete with them.

 Specifically, most of our
competitors have longer operating histories and greater resources than us, and could focus their substantial financial resources to develop
or sustain a competing business model and develop products or services that are more attractive to potential customers than what we offer.
Our competitors may also offer similar products and services at prices below cost and/or devote significant sales forces to competing
with us for customers, endorsements, or key personnel, any of which could improve their competitive positions. Any of these competitive
factors could make it more difficult for us to attract and retain customers or personnel or force us to lower our prices in order to compete,
which would in turn reduce our market share and revenue. We can provide no assurance our management will be successful in navigating this
complex competitive landscape, in which case our financial condition would be adversely affected.

 Because we will be reliant on a small number of
products to be sold to a limited number of prospective customers, we will face significant risks associated with a lack of diversification.

 We anticipate that the majority of our operations,
particularly in the short term, will be focused on the marketing and sale of our Smart Shin Guard, which products have a relatively limited
application and a narrow group of potential customers, namely soccer teams and players. Any unexpected developments with respect to these
prospective customers or related vendors or organizations would therefore materially harm our ability to establish, maintain or grow a
significant market position. Demand for our products may fluctuate in response to new products that emerge or changes to the industries
on which they rely, or due to unexpected natural or uncontrollable events.

 For example, the COVID-19 pandemic previously forced
worldwide shutdowns of sports leagues, and some leagues delayed or suspended play for indeterminate periods of time in response. Any of
these or related events affecting the markets we seek to target could result in a decline in the demand for our products or the price
point at which prospective customers will be willing to purchase it, and in such event we will not have material alternative products
or services to offset such negative effects to our business. If we fail to generate material sales of our products for any of the foregoing
reasons, your investment in us would be materially harmed.

 Because our success will
depend to a large extent on our ability to develop and grow a market for our products, you may lose your investment.

 In order to be successful,
we will need to establish a market for our products. There can be no assurance that anyone will purchase our products at the prices we
need to generate material revenue or at all. Additionally, if the U.S. or European markets enter a recession, spending for non-essential
products such as ours, and the potential customers to whom we might sell our products and services, could decline dramatically. Further,
even if we do attract some customers, there can be no assurance that enough customers will purchase our products or that they will continue
to purchase our products in sufficient volumes to produce the cash flow needed to sustain our operations, in which case your entire investment
could be lost.

 We may encounter difficulty obtaining approval
for the Smart Shin Guard for in-game use by soccer leagues, which could hinder or eliminate any competitive advantage with respect to
our Smart Shin Guard.

 A material aspect of the Smart Shin Guard's
potential attractive features for consumers, particularly professional and amateur soccer players and teams, is its relatively small size
and integration into a shin guard, which is already used in games and therefore does not add additional bulk or weight to a player's
normal in-game apparel. However, many soccer leagues impose restrictions and policies on the apparel and equipment that players may wear
during games. As such, we will likely need to obtain approval for the Smart Shin Guard's use by the soccer leagues of teams we market
the product to in order for those teams to use the product in-game. There can be no assurance we will obtain such approval in any or a
sufficient number of leagues. Leagues may be hesitant to allow our product to be used in games for a variety of reasons, including potential
safety concerns, concerns that such use would confer on certain teams an unfair advantage at the expense of others, or simply reluctance
to change. If we are unable to obtain approval for in-game use in leagues, soccer teams and players in those leagues may be unable to
use our product in-game or in real-time, which would reduce the usefulness of our product to them and limit our ability to sell our product
or generate material revenue therefrom. If we are unable to convince soccer leagues to allow players' and teams' in-game use
of our product, it could materially harm our business and results of operations.

 The failure to obtain
endorsements from athletes or teams could significantly impair our ability to market the Smart Shin Guard.

 A key component of our business
plan and marketing strategy currently contemplates obtaining endorsements from prominent athletes or teams to market our Smart Shin Guard.
As of the date of this filing, we have not obtained any such endorsements. Our ability to obtain any such endorsements will likely be
dependent on future funding. Because of our limited capital, there can be no assurance that we can procure any endorsements, in which
case our business could be adversely affected.

 We may be exposed to liabilities under the Foreign
Corrupt Practices Act, and any determination that we violated the Foreign Corrupt Practices Act could have a material adverse effect on
our business.

 Because we intend to operate in foreign markets, we
will be subject to the Foreign Corrupt Practice Act (the "FCPA"), and other laws that prohibit improper payments or offers
of payments to foreign governments (as well as similar laws in the United States). We expect to have operations and distribution channels
in jurisdictions creating the potential for corrupt practices by our employees, consultants or agents. We may employ sales personnel or
independent contractors who may be viewed as our agents or otherwise expose us to liability under the FCPA. While we intend to comply
fully with the FCPA and similar anti-bribery laws in conducting our business abroad, we cannot guarantee that we will be able to control
the conduct of our employees and contractors to prevent corrupt practices. The potential penalties for violating the FCPA include anti-bribery
laws and criminal or civil sanctions, including a fine of up to $2 million per violation. If we were to be found in violation of the FCPA
or local anti-bribery laws, the resultant penalties and collateral consequences could negatively affect our business, operating results
and financial condition.

 We plan to conduct a substantial portion of our
business in foreign markets, which will expose us to the risks of trade or foreign exchange restrictions, increased tariffs, foreign currency
fluctuations, disruptions or conflicts with our third-party importers and similar risks associated with foreign operations.

 Our current business plan includes expansion into
multiple foreign markets exposing our Company to risks associated with foreign operations. For example, a foreign government may impose
trade or foreign exchange restrictions or increased tariffs, or otherwise limit or restrict our ability to import products into a country,
any of which could negatively impact our operations. We are also exposed to risks associated with foreign currency fluctuations by selling
our products to consumers in foreign markets. Accordingly, strengthening of the Euro which is our primary currency versus a foreign currency
could have a negative impact on us. Additionally, we may be negatively impacted by conflicts with or disruptions caused or faced by third-party
importers, as well as conflicts between such importers and local governments or regulating agencies. Our operations in some markets also
may be adversely affected by political, economic and social instability in foreign countries, as well as economic tensions between governments,
the implementation of new or increased tariffs and other changes in international trade policies. Finally, since we plan to operate in
the European Union, the impact of the war between Russia and Ukraine, the war in Israel, and/or economic sanctions between or among countries,
as well as general geopolitical issues in Europe, may adversely affect our operations in the European Union.

 Another risk associated with our international operations
is the possibility that a foreign government may impose foreign currency remittance restrictions. Due to the possibility of government
restrictions on transfers of cash out of the country and control of exchange rates, we may not be able to immediately repatriate cash
at the official exchange rate. If this should occur, or if the official exchange rate devalues, it may have a material adverse effect
on our business, assets, financial condition, liquidity, results of operations or cash flows.

 Some of our contracts have been and are expected
to be in foreign jurisdictions and currencies, and if we do not comply with transfer pricing, customs duties, value added taxes, and similar
regulations, then we may be subjected to additional taxes, duties, interest and penalties in material amounts, which could harm our operating
results and financial condition.

 Because we operate and plan to operate in countries
outside of the United States, we will be subject to transfer pricing and other tax regulations designed to ensure that our intercompany
transactions are consummated at prices that have not been manipulated to produce a desired tax result, that appropriate levels of income
are reported as earned by our United States or local entities, and that we are taxed appropriately on such transactions. In addition,
our operations will be subject to regulations designed to ensure that appropriate levels of customs duties are assessed on the importation
of our products. Further, we have executed and expect to continue to enter into contracts with third parties in foreign jurisdictions
and involving foreign currencies, and we therefore face the risk of foreign currency fluctuations which could cause increased operating
expenses and reduced revenues, in addition to other uncertainties and contingencies incident to doing business in another country some
of which are described elsewhere in these Risk Factors.

 The imposition of new taxes, even pass-through taxes
such as value added taxes, could have an impact on our perceived product pricing and will likely require that we increase prices in certain
jurisdictions, and therefore could have a potential negative impact on our business and results of operations. If they arise, the ultimate
resolution of these matters may take several years, and the outcome is uncertain. If the Internal Revenue Service or any foreign taxing
authorities were to successfully challenge our transfer pricing practices or our positions regarding the payment of income taxes, customs
duties, value added taxes, withholding taxes, sales and use taxes, and other taxes, we could become subject to higher taxes, we may determine
it is necessary to raise prices in certain jurisdictions accordingly, and our revenue and earnings and our results of operations could
be adversely affected.

 If we fail to comply with U.S. and foreign laws
related to privacy, data security, and data protection, it could adversely affect our operating results and financial condition.

 We are or may become subject to a variety of laws
and regulations including the European Union's General Data Protection Regulation (the "GDPR") regarding privacy, data
protection, and data security. These laws and regulations are continuously evolving and developing. The scope and interpretation of the
laws that are or may be applicable to us are often uncertain and may be conflicting, particularly with respect to foreign laws.

 In particular, there are numerous U.S. federal, state,
and local laws and regulations and foreign laws and regulations regarding privacy and the collection, sharing, use, processing, disclosure,
and protection of personal data. Such laws and regulations often vary in scope, may be subject to differing interpretations, and may be
inconsistent among different jurisdictions. For example, the GDPR includes operational requirements for companies that receive or process
personal data of residents of the European Union that are broader and more stringent than those previously in place in the European Union
and in most other jurisdictions around the world. The GDPR includes significant penalties for non-compliance, including fines of up to
 20 million or 4% of total worldwide revenue. Additionally, in June 2018, California enacted the California Consumer Privacy Act
(the "CCPA"). In November 2020, the CCPA was amended by Proposition
24, the California Consumer Privacy Act, which extends the CCPA. The CCPA requires covered companies to provide California consumers with
new disclosures and will expand the rights afforded consumers regarding their data. Fines for noncompliance may be up to $7,500 per violation.
The costs of compliance with, and other burdens imposed by, the GDPR, CCPA, and similar laws may limit the use and adoption of our products
and services and/or require us to incur substantial compliance costs, which could have an adverse impact on our business.

 Since
the CCPA was enacted, the U.S. currently has at least 20 states – California, Colorado, Connecticut, Delaware, Indiana, Iowa, Kentucky,
Maryland, Minnesota, Montana, Nebraska, New Hampshire, New Jersey, Oregon, Rhode Island, Tennessee, Texas, Utah and Virginia, that have
comprehensive data privacy laws in place, or enacted comprehensive data privacy laws set to soon take effect. An additional seven states
have enacted narrower privacy laws – Florida, Maine, Michigan, Nevada, New York, Vermont, and Washington. So far during the 2024
legislative cycle, at least four states have introduced comprehensive privacy bills that address a range of issues, including protecting
biometric identifiers and health data, or governing the activities of specific entities. However, this patchwork approach to privacy legislation
could pose compliance and liability risks for companies that have multistate operations. Proposed and enacted bills in various states
have similar rights in preexisting privacy legislation but differ in implementation and enforcement. In June 2024 the American Privacy
Rights Act of 2024 was introduced in the U.S. House of Representatives and was subsequently referred to the House Committee on Energy
and Commerce has and is not yet adopted. As introduced, this proposed legislation would establish requirements for how companies handle
personal data by, among other things, limiting the collection, processing, and transfer of personal data, prohibiting companies from transferring
individuals' personal data without their affirmative express consent, establishing a right to access, correct, and delete personal
data, requiring companies to provide individuals with a means to "opt out" of the transfer of non-sensitive covered data and
the right to opt out of the user of their personal information for targeted advertising, requiring companies to implement security practices
aimed at protecting personal data, and imposing enforcement actions and the possibility of civil proceedings for violations. Proposed
federal legislation, like the American Privacy Rights Act of 2024, will likely continue to be debated and, at some point, may be enacted
in some form.

 We intend to strive to comply with all applicable
laws, policies, legal obligations, and industry codes of conduct relating to privacy, data security, and data protection. Our limited
resources may adversely affect our compliance effort. Given that the scope, interpretation, and application of these laws and regulations
are often uncertain and may be in conflict across jurisdictions, it is possible that these obligations may be interpreted and applied
in a manner that is inconsistent from one jurisdiction to another and may conflict with other rules or our practices. Any failure or perceived
failure by us or third party service providers to comply with our privacy or security policies or privacy-related legal obligations, or
any compromise of security that results in the unauthorized release or transfer of personal data, may result in governmental enforcement
actions, litigation, or negative publicity, and could have an adverse effect on our operating results and financial condition.

 Governments are continuing to focus on privacy and
data security, and it is possible that new privacy or data security laws will be passed or existing laws will be amended in a way that
is material to our business. Any significant change to applicable laws, regulations, or industry practices regarding the personal data
of our employees, agents or customers could require us to modify our practices and may limit our ability to expand or sustain our salesforce
or bring our products to market. Changes to applicable laws and regulations in this area could subject us to additional regulation and
oversight, any of which could significantly increase our operating costs and materially affect our operating results and financial condition.

 Risks Related to Our Common Stock

 Because of our lack of liquidity, we have funded
our operations and expenditures primarily through the incurrence of debt and the satisfaction of such debt through the issuance of shares
of our common stock, the result of which is continued dilution to existing shareholders and downward pressure on our stock price.

 As disclosed under "Item 7 - Management's
Discussion and Analysis of Financial Condition and Results of Operations," due to our lack of revenue and continued capital requirements,
in recent years we have relied heavily on incurring indebtedness from shareholders and other third parties and repaying that indebtedness
in shares of our common stock. We expect this trend to continue unless we are able to fund another source of capital, which may include
issuing other forms of securities with terms that could limit our operational flexibility, subordinate the rights of shareholders or have
other negative features. Further, we have in the past and may in the future issue shares for consideration that is well below the market
price of our common stock as reflected on the OTC Pink Open Market. For example, in December 2021 and February 2022, following a 1-for-100
reverse split and an agreement with certain of our lenders, we issued a total of 118,663,761 shares to lenders in satisfaction of $225,259
in indebtedness at a per share price of approximately $0.0019 per share, below the fair market value of the shares based on accounting
principles.

 The result of our continuing to fund our operations
through the issuance of shares of common stock has been and will continue to be the dilution of our shareholders' ownership interest
in the Company. In addition, the introduction of additional shares imposes downward pressure on our stock price, particularly given the
limited and sporadic nature of trading in our common stock. Unless we are unable to raise sufficient capital by non-dilutive mean which
is unlikely, or generate material revenue from our operations which may not come to fruition in the near term or at all, we expect we
will need to continue to issue shares of common stock causing further dilution and potentially cause our stock price to decline further,
which would have a material adverse effect on existing shareholders.

 Our registration under the Exchange Act could be
revoked by the SEC if we fail to file required reports.

 If we fail to file reports as required under the Exchange
Act, we may lose our registration as a reporting company. While we intend to comply with the Exchange Act's reporting requirements
moving forward, and we may be unable to comply in the future as we did in the past. For example, in June 2009, the SEC revoked our registration
under the Exchange Act for failure to file required reports. Following that action, the Company expended resources to again become a reporting
company with the SEC in 2010; however, it was never able to file an annual report on Form 10-K and ultimately withdrew its registration
in 2013. Following our registration in 2021, the heightened expenditures of being a public reporting company continue to impose challenges
to us and strain our very limited resources.

 If we are unable to comply with the SEC reporting
provisions in the future, such failure will affect the liquidity of our common stock and act as a depressant to the price, particularly
if in such event we are also unable to maintain our OTC Pink Open Market listing using the alternative reporting system, which would result
in the loss of a two-way trading market for our common stock. We cannot assure you we will not become delinquent and/or withdraw or have
our reporting status revoked again.

 Currently there is no active public market for
our common stock, and we cannot predict the future prices or the amount of liquidity.

 Currently, there is no active public market for our
common stock and one may never develop. Our common stock trades sporadically on the OTC Pink Open Market under the symbol "GHST."
We do not know if an active market will develop even if are successful in completing the development of our Smart Shin Guard and commercializing
that product, or if we are able to further develop and execute other aspects of our business plan.

 The OTC Pink Open Market generally is not an active
market. Further, our common stock has only traded sporadically. In order to move to a higher market, such as the OTCQB, we are required
to pay $10,000 per year. Even if our common stock begins trading on the OTCQB, investors should be aware that the OTCQB is not as liquid
as major national securities exchanges.

 These stock market and industry factors may adversely
affect the market price of our common stock.

 Because of our limited working capital, we lack
required internal controls and unless we remediate them, we may be hampered in a number of ways, which could materially and adversely
affect us.

 Our management and directors are based in Italy and
other European countries. Although our accounting and legal professionals, as well as our auditors, are based in the United States, our
lack of familiarity with United States federal and Delaware law has adversely affected us and may continue to adversely affect us as follows:

 Due to our limited size, we do not segregate our accounting functions which creates a material weakness;

 The lack of controls may ultimately cause errors in our financial statements;

 As we expand our business, we may fail to comply with local laws that could result in fines and the inability to do business; and

 Once our common stock publicly trades, investors may react to our lack of internal controls by selling our stock and depressing the price.

 As a public company in the United States, we are required
to maintain internal control over financial reporting and disclosure controls and procedures. These controls and other procedures are
designed to ensure that information required to be disclosed by us in the reports that we file with the SEC is disclosed accurately and
is recorded, processed, summarized and reported within the time periods specified in SEC rules.

 Ensuring that we have adequate controls and procedures
in place to help produce accurate financial statements on a timely basis is a costly and time-consuming effort that needs to be evaluated
frequently. We will incur increased costs and demands upon management as a result of complying with the laws and regulations affecting
public companies relating to internal controls, which could materially adversely affect our results of operations.

 Once we raise sufficient capital, we plan to take
steps to remediate our material weaknesses, including hiring a principal financial officer with knowledge of generally accepted accounting
principles as well as reporting and disclosure obligations. As our business expands we intend to retain additional consultants as required.
If we fail to maintain proper and effective internal controls in future periods, we could become subject to potential review by the SEC
or other regulatory authorities, which could require additional financial and management resources, could compromise our ability to run
our business effectively and could cause investors to lose confidence in our financial reporting.

 The SEC has sued multiple public companies in the
past alleging in part that they had violated Section 13(b) of the Exchange Act resulting from their failure to remediate material weaknesses
in their internal control over financial reporting over an extensive period of time. Three of these companies had remediated their material
weaknesses at the time the lawsuits were filed. If the SEC Staff investigates us and following that investigation a lawsuit is filed alleging
that we have and/or have not remediated our material weaknesses, we will face the following risks:

 It will divert our management's attention from our core business of developing, marketing and selling the Smart Shin Guard;

 We will incur substantial legal fees in connection with both the investigation and the lawsuit if it is filed;

 If we are sued, we may be required to pay a civil monetary penalty in addition to other remedies the SEC or a court may impose;

 Any public disclosure may cause investors to sell our stock which may result in a material decline in our stock price that will cause investors to lose money; and

 Our existing stockholders will experience more dilution as we are required to raise capital at a lower price per share.

 Because all of our officers and directors reside
outside of the United States, it will be difficult for investors to sue them personally in the United States and may be difficult to enforce
any judgment against their assets, which are located outside of the United States.

 Our officers and directors reside in and are based
in Italy and other European countries. In the event that investors sue them in the United States alleging that any registration statement,
report or proxy filed with the SEC or other disclosure in connection with the purchase or sale of our common stock violates the United
States federal and/or state securities laws, they may claim that they are not subject to suit individually in the United States. If a
court later determines that these individuals may be sued in the United States and there is an adverse judgment against all or some of
these directors, it may be difficult to enforce a United States judgment in the home countries of the defendants.

 Due to SEC Rule 15c2-11 under the Exchange Act,
our common stock may become subject to limitations or reductions on stock price, liquidity or volume.

 On September 16, 2020, the SEC adopted amendments
to Rule 15c2-11 under the Exchange Act. This Rule applies to broker-dealers who quote securities listed on over-the-counter markets such
as our common stock. The Rule as amended prohibits broker-dealers from publishing quotations on OTC markets for an issuer's securities
unless they are based on current publicly available information about the issuer. The amended Rule also limits the Rule's "piggyback"
exception, which allows broker-dealers to publish quotations for a security in reliance on the quotations of a broker-dealer that initially
performed the information review required by the Rule, to issuers with current publicly available information or issuers that are up-to-date
in their Exchange Act reports.

 This Rule could harm the liquidity and/or market price
of our common stock by either preventing our shares from being quoted or driving up our costs of compliance. If we cannot or do not provide
or maintain current public information about our Company our stockholders may face difficulties in selling their shares of our common
stock at desired prices, quantities or times, or at all, as a result of the amendments to the Rule.

 We are subject to the "penny stock"
rules which will adversely affect the liquidity of our common stock.

 The SEC has adopted regulations which generally define
"penny stock" to be an equity security that has a market price of less than $5.00 per share, subject to specific exemptions.
The market price of our common stock on the OTC Pink Open Market is presently less than $5.00 per share and therefore we are considered
a "penny stock" company according to SEC rules. Further, we do not expect our stock price to rise above $5.00 in the foreseeable
future. The "penny stock" designation requires any broker-dealer selling our securities to disclose certain information concerning
the transaction, obtain a written agreement from the purchaser and determine that the purchaser is reasonably suitable to purchase the
securities. These rules limit the ability of broker-dealers to solicit purchases of our common stock and therefore reduce the liquidity
of the public market for our shares.

 Broker-dealers are increasingly reluctant to permit
investors to buy or sell speculative unlisted stock and often impose costs which make it uneconomical for small shareholders to do so.
Moreover, as a result of apparent regulatory pressure from the SEC and the Financial Industry Regulatory Authority ("FINRA"),
a growing number of broker-dealers decline to permit investors to purchase and sell or otherwise make it difficult to sell shares of penny
stocks. The "penny stock" designation may have a depressive effect upon our common stock price.

 Our stock price may be volatile because of factors
beyond our control.

 Any of the following factors could affect the market
price of our common stock:

 our failure to generate revenue;

 our failure to achieve and maintain profitability;

 actual or anticipated variations in our quarterly results of operations;

 announcement by us of the commencement of or the progress of any litigation;

 our failure to meet anticipated results with respect to the development and distribution of products to consumers and others;

 the failure of our products or services we may offer in the future to operate as expected;

 complaints received from consumers and other users; and

 our failure to remain current with our Exchange Act filing requirements.

 In the past, following periods of volatility in the
market price of a company's securities, securities class action litigation has often been instituted. A securities class action
suit against us could result in substantial costs and divert our management's time and attention, which would otherwise be used
to benefit our business.

 Because of FINRA sales practice requirements which
affect broker-dealers, the market price for our common stock will be adversely affected.

 FINRA has adopted rules that require that in recommending
an investment to a customer, a broker-dealer must have reasonable grounds for believing that the investment is suitable for that customer.
Prior to recommending speculative low-priced securities to their non-institutional customers, broker-dealers must make reasonable efforts
to obtain information about the customer's financial status, tax status, investment objectives and other information. Under interpretations
of these rules, FINRA believes that there is a high probability that speculative low-priced securities will not be suitable for at least
some customers. FINRA requirements make it more difficult for broker-dealers to recommend that their customers buy shares of our common
stock, which may limit your ability to buy and sell our common stock and have an adverse effect on the market for our shares.

 In the future, we may issue preferred stock which
could make it more difficult for a third party to acquire us and could depress our stock price.

 Our Board of Directors may issue one or more series
of preferred stock that have more than one vote per share. This could permit our Board of Directors to issue preferred stock to investors
who support our management and us and permit our management to retain control of our business. Additionally, issuance of preferred stock
could block an acquisition resulting in both a drop in our stock price and a decline in interest of our common stock.

 Since we intend to retain any earnings for development
of our business for the foreseeable future, you will likely not receive any dividends for the foreseeable future.

 We have not and do not intend to pay any dividends
in the foreseeable future, as we intend to retain any earnings for development and expansion of our business operations. As a result,
you will not receive any dividends on your investment for an indefinite period of time.

 ITEM 1B. UNRESOLVED STAFF COMMENTS.

 None.

 ITEM 1C. CYBERSECURITY.

 Like all companies that utilize technology, we are
subject to threats of breaches of our technology systems. To mitigate the threat to our business, we aim to take a comprehensive approach
to cybersecurity risk management. Our Board and our management actively oversee our risk management program, including the management
of cybersecurity risks. intend to establish policies, standards, processes and practices for assessing, identifying, and managing material
risks from cybersecurity threats. We intend to make investments to maintain the security of our data and cybersecurity infrastructure
when feasible. There can be no guarantee that our policies and procedures will be properly followed in every instance or that those policies
and procedures will be effective. We do not believe that risks from prior cybersecurity threats have materially affected our business
to date. We can provide no assurance that there will not be incidents in the future or that future attacks will not materially affect
us, including our business strategy, results of operations, or financial condition.

 ITEM 2. PROPERTIES

 GHST maintains its headquarters
in New York, NY. The headquarters are in an executive suite environment where services are provided on an as-needed basis. Our officers
spend limited time in the United States.

 ITEM 3. LEGAL
PROCEEDINGS.

 None.

 ITEM 4. MINE SAFETY DISCLOSURES.

 ITEM 5. MARKET FOR REGISTRANT'S COMMON EQUITY,
RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES.

 Our common stock is not listed
on any securities exchange, and is quoted on the OTC Pink Market under the symbol "GHST." Because our common stock is not
listed on a securities exchange and its quotations on OTC Pink are limited and sporadic, there is currently no established public trading
market for our common stock.

 The following table reflects
the high and low bid information for our common stock for each fiscal quarter during the fiscal years ended June 30, 2024 and 2023. This
information was obtained from OTC Pink and reflects inter-dealer prices without retail mark-up, mark-down or commission and may not necessarily
represent actual transactions.

 COMMON STOCK
 MARKET PRICE

 HIGH

 LOW

 Fiscal Year Ended June 30, 2024:

 First Quarter

 $
 0.078

 $
 0.031

 Second Quarter

 $
 0.065

 $
 0.033

 Third Quarter

 $
 0.067

 $
 0.027

 Fourth Quarter

 $
 0.09

 $
 0.04

 COMMON STOCK
 MARKET PRICE

 HIGH

 LOW

 Fiscal Year Ended June 30, 2023:

 First Quarter

 $
 0.10

 $
 0.034

 Second Quarter

 $
 0.09

 $
 0.022

 Third Quarter

 $
 0.065

 $
 0.026

 Fourth Quarter

 $
 0.09

 $
 0.023

 Holders

 As of September 23, 2024,
there were approximately 623 shareholders of record of the Company's common stock. We believe that additional beneficial owners of our
common stock hold shares in street name.

 Shares Eligible for Future Sale

 All of the outstanding shares of common stock of the
Company are restricted securities and cannot be sold under Rule 144 until at least six months have passed since payment, and the other
requirements of Rule 144(i)(1)(ii) have been satisfied, including the Company being current in its SEC periodic reporting obligations.

 In general, Rule 144 provides that any non-affiliate
of the Company, who has held restricted common stock for at least six-months, is entitled to sell their restricted stock freely, provided
that the Company stays current in its SEC filings.

 An officer, director or other person in control of
the Company may sell after six months with the following restrictions: (i) the Company is current in its SEC filings, (ii) certain manner
of sale provisions, (iii) the filing of a Form 144, and (iv) volume limitations limiting the sale of shares within any three-month period
to a number of shares that does not exceed 1% of the total number of outstanding shares. A person who has ceased to be an affiliate at
least three months immediately preceding the applicable sale and who has owned such shares of common stock for at least one year may sell
the shares under Rule 144 without regard to any of the limitations described above.

 Such shares may be sold outside of the United States.
Further, such shares may be sold to purchasers in the United States under Section 4(a)(1) of the Securities Act if paid for more than
two years ago and if the seller is not an affiliate of the Company. However, some broker-dealers and transfer agents will not accept legal
opinion relying on Section 4(a)(1).

 Equity Compensation Plan Information

 The Company does not have any securities authorized
for issuance or outstanding under an equity compensation plan or equity compensation grants made outside of such a plan.

 Dividend Policy

 We have not paid cash dividends on our common stock
and do not plan to pay such dividends in the foreseeable future. Our Board of Directors will determine our future dividend policy on the
basis of many factors, including results of operations, capital requirements, and general business conditions.

 Unregistered Sales of Equity Securities

 All unregistered sales of
equity securities through the period covered by this Report have previously been disclosed.

 ITEM
6. [Reserved]

 ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.

 Certain statements in "Management's Discussion
and Analysis and Plan of Financial Condition and Results of Operations" are forward-looking statements that involve risks and uncertainties.
Words such as may, will, should, would, anticipates, expects, intends, plans, believes, seeks, estimates and similar expressions identify
such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect
management's analysis only as of the date hereof. You should read the following discussion in conjunction with our financial statements,
which are included elsewhere in this Report. We assume no obligation to update these forward-looking statements to reflect actual results
or changes in factors or assumptions affecting forward-looking statements. Our actual results could differ materially from those discussed
in the forward-looking statements. See "Cautionary Note Regarding Forward Looking Statements" and "Risk Factors"
contained in the forepart of this Report for more information.

 Overview

 Our principal business focus has been seeking to exploit
a patent and obtain and exploit future patents for the Smart Shin Guard. We also have development stage businesses for IoTT, an internet
technology business, and InSSIDe World, an early stage development company seeking new business opportunities, and GHST Art. We have generated
nominal revenue and need substantial additional financing to market our services.

 Plan of Operation

 Smart Shin Guard

 On June 30, 2020, we obtained the intellectual property
rights to the Smart Shin Guard and began efforts to implement our new business model of developing and marketing advanced wearable sports
tracking and analysis devices, with an initial focus on soccer. In June 2020 we were issued the U.S. patent for our product, in 2022 we
obtained a European patent for Italy, France, Spain, Germany and the United Kingdom and in March 2023 we obtained a Hong Kong patent.
While we believe we have sufficient capital to fund our initial operations, we anticipate we will need additional funding to expand our
operations and market and sell our product, including for the following expenses:

 Complete the development of our Smart Shin Guard and the related phone app;

 Compensating out management and key personnel;

 Obtain the raw materials needed for our manufacturing of our products, including pursuant to contracts with third party suppliers we may enter into to procure the same;

 Arrange for the production of Smart Shin Guards and factory and warehouse space for the such production (which we may be required to outsource to a third party or parties);

 Develop relationships with soccer leagues, teams and players in order to both locate potential customers and establish business relationships to assist with advertising to the general public;

 Develop, maintain and protect our intellectual property rights including patent(s) in applicable jurisdictions;

 Communicate with and advocate for our product to FIFA and other soccer leagues and regulators to allow for widespread in-game use of our product in professional settings.

 We are currently seeking to complete the development
of our product, which process has been prolonged due to our limited capital and human resources. Additionally, the planned smart phone
application and the professional kit version of our product are expected to take a longer time to develop than the consumer kit due to
the increased complexity of its functionality. These elements of our business plan to be the focal point of our development efforts as
of the date of this Report.

 Following our product development efforts and assuming
successful completion of the same which will depend, among other things, on our ability to raise or otherwise access sufficient capital
and the performance of third parties on which we rely or will rely, we intend to then turn our attention during the next 12 months towards
manufacturing the product and establishing a market for selling our product. Because our product focuses on soccer, or "football,"
we plan to focus these efforts on countries located in Europe, where the sport is most popular and well-funded, and teams and players
may be more likely to subscribe to our offerings. We expect that our ability to have success during this stage will depend on a number
of factors which may be beyond our control, including our ability to have patents issued in target jurisdictions, our ability to complete
product development and manufacturing efforts on schedule, and our ability to obtain strategic partnerships from professional teams or
athletes to assist us in our marketing efforts. See "Risk Factors" in this Report.

 Other Subsidiaries

 Our other subsidiaries remain in the development stage,
as we continue to develop business plans for their respective goals. Included in these is InSSIDe, for which the Company is seeking to
develop a business plan and pursue potential business opportunities, although to date these efforts are in the early stages and we have
not generated any revenue therefrom.

 Marketing Plan

 Our goal is to develop and expand a market for our
Smart Shin Guard both to professional and casual soccer players and teams. With the right people on our side, we intend and hope for the
market for our product to grow to a global scale. However, we will need to raise additional capital to fund these business plans, which
we may face difficulty doing on acceptable terms or at all. See below under "Liquidity and Capital Resources" for more information.

 Headquarters

 We are currently headquartered in New York, NY where
we maintain an executive office for occasional use; however our directors and officers are located in Italy and other European countries.
We believe our presence in these locations will be useful in initiating our marketing strategy, in which we plan to focus our efforts
on European countries and access the U.S. capital markets to fund our operations.

 Need for League Approval

 As discussed in "Risk Factors," the Smart
Shin Guard's value, particularly with respect to professional teams and players, will in large part be determined by our ability
to obtain approval for in-game use of the product from FIFA, UEFA Champions League, Serie A (Italy), Ligue 1 (France), and the English
Premier League, as well as other prominent international and national soccer leagues that attract a significant number of viewers. Management
believes that due to our product's small size and design to be used as a wearable shin guard, which equipment is already used in
games, we should be able to obtain such approval, but any difficulties or delays in obtaining this consent from target leagues could result
in limitations to the prospective market for our product and/or require us to allocate capital and time towards obtaining such approval.

 Critical Accounting Estimates

 The methods, estimates, and judgments that we use
in applying our accounting policies impact the results that we report in our financial statements. Some of our accounting policies may
require us to make difficult and subjective judgments, often as a result of the need to make estimates regarding matters that are inherently
uncertain. Certain estimates involve certain assumptions that if incorrect could create a material adverse impact on GHST's results
of operations and financial condition. As of the date of this Report, management does not believe the financial statements contain or
are subject to any critical accounting estimates as defined under Item 303 of Regulation S-K under the Securities Exchange Act of 1934.

 Results of Operations

 The following discussion should be read in conjunction
with the financial statements and notes thereto included elsewhere in this report.

 Fiscal Year Ended June 30, 2024 Compared to the
Fiscal Year Ended June 30, 2023.

 We had $40,916 in revenue in the fiscal year ended
June 30, 2024 ("FY 2024") relating to consulting services provide through InSSIDe, and nominal revenue of $3,078 in the fiscal
year ended June 30, 2023 ("FY 2023"), and we sustained net losses of $511,284 and $116,574, respectively, in those periods.
Our expenses consisted of general and administrative costs in each period, and stock compensation in FY 2024. We do not expect to generate
material revenue unless and until we can implement our business plan and begin marketing and selling our products and services in sufficient
quantities, which has been delayed due to a combination of our limited capital resources and external forces resulting in delays in the
development of our business, which has and until completed will continue to adversely affect our marketing capabilities. In addition,
our focus on multiple businesses beginning in recent periods may further delay these efforts and our operating results given our limited
resources and personnel.

 In order to become profitable, we will need to complete
the development of a functional product and thereafter establish a sufficient market for our product, including internationally, to offset
our development, manufacturing and advertising costs, and our ability to do so will be subject to a number of factors, many of which will
be beyond our control. We will also need to access sufficient capital, form strategic alliances and develop an adequate market with respect
to any future business opportunities we may pursue.

 Liquidity and Capital Resources

 Net Cash used by Operating Activities:

 For FY 2024, the Company used net cash of $164,551
in operating activities as compared to $93,307 for FY 2023. The increase in cash used in operations was primarily due to higher net loss
in the recent period, which was partially offset by stock compensation of $324,523 in the recent period.

 Cash Flows from Investing Activities:

 For FY 2024 and FY 2023, the Company had no cash flows
from investing activities.

 Cash Flows from Financing Activities:

 Cash flows from financing activities for FY 2024 were
$143,359 compared to $132,596 for FY 2023. Cash flows from financing activities arose from advances from related parties in FY 2024, and
from a combination of issuances of common stock for cash and related party advances in FY 2023.

 We have approximately $15,000 in available cash as
of September 24, 2024, and for the past two years we have been relying on loans and stock purchases from our current investors and related
parties to fund our operations. As reflected in the Financial Statements contained elsewhere in this Report, management has expressed
substantial doubt about our ability to continue as a going concern during the fiscal year ended June 30, 2024, unless we can raise the
required capital or generate material revenue to fund our operations.

 We do not have sufficient capital to support our operations
for the next 12 months and will dependent upon on the proceeds from a financing, which may consist of sales of our common stock, the issuance
of debt securities and/or issuance of securities convertible into shares of our common stock, any of which could have a dilutive effect
on our existing shareholders. We intend to continue to raise capital from existing investors and/or to obtain funding from the sale of
a minority interest in our subsidiaries if and to the extent possible. We estimate that we will need to raise at least $300,000 in order
to meet our working capital needs for the next 12 months. As described elsewhere in this Report, we plan to phase in our expenses and
grow our business as working capital is available.

 There can be no assurances that we will be able to
raise additional capital. The inability to raise capital would adversely affect our ability to achieve our business objectives. In addition,
if our operating performance during the next 12 months is below our expectations, our liquidity and ability to operate our business could
be adversely affected. We continue to monitor macro-economic factors such as inflationary pressures, continued Federal Reserve interest
rate hikes and recessionary fears, as well as trends within our industry, all of which may affect our working capital requirements and
ability to raise funding for our operations within the timeframes desired, on favorable terms or at all. See "Risk Factors."

 Significant Accounting Policies and Recent Accounting
Pronouncements

 Please see the notes to our Financial Statements
for information about our Significant Accounting Policies and Recent Accounting Pronouncements.

 ITEM 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES
ABOUT MARKET RISK.

 ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY
DATA.

 INDEX TO FINANCIAL
STATEMENTS

 Page

 Report of Independent Registered Public Accounting Firms "Fruci" (PCAOB ID 5525) and " Salberg "
 (PCAOB ID 106) Boca Raton, Florida

 F-2 - F-4

 Consolidated Balance Sheets –

 As of June 30, 2024 and 2023

 Consolidated Statements of Operations –

 For the Years
 Ended June 30, 2024 and 2023

 Consolidated Statements of Changes in Stockholders' Deficit –

 For the Years Ended June 30, 2024 and 2023

 Consolidated Statements of Cash Flows –

 For the Years Ended June 30, 2024 and 2023

 F-9 - F-13

 F- 1

 REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING
FIRM

 To the Board of Directors and Stockholders of GHST
World, Inc.

 Opinion on the Financial Statements

 We have audited the accompanying consolidated
balance sheets of GHST World, Inc. and Subsidiaries ("the Company") as of June 30, 2024, and the related consolidated statements
of operations, changes in stockholders' deficit, and cash flows for the year then ended, and the related notes (collectively referred
to as the financial statements). In our opinion, the financial statements present fairly, in all material respects, the financial position
of the Company as of June 30, 2024, and the results of its operations and its cash flows for the year then ended, in conformity with accounting
principles generally accepted in the United States of America.

 Going Concern

 The accompanying financial statements have been
prepared assuming that the Company will continue as a going concern. As discussed in Note 2 to the financial statements, the Company has
net losses, an accumulated deficit, stockholder's deficit, and negative cash flows from operations. These factors, among others,
raise substantial doubt about the Company's ability to continue as a going concern. Management's plans in regard to these
matters are also described in Note 2. The financial statements do not include any adjustments that might result from the outcome of this
uncertainty.

 Basis for Opinion

 These financial statements are the responsibility
of the Company's management. Our responsibility is to express an opinion on the Company's financial statements based on our
audit. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required
to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations
of the Securities and Exchange Commission and the PCAOB.

 We conducted our audit in accordance with the
standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial
statements are free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged
to perform, an audit of its internal control over financial reporting. As part of our audit, we are required to obtain an understanding
of internal control over financial reporting, but not for the purpose of expressing an opinion on the effectiveness of the Company's
internal control over financial reporting. Accordingly, we express no such opinion.

 Our audit included performing procedures to
assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond
to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements.
Our audit also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating
the overall presentation of the financial statements. We believe that our audit provides a reasonable basis for our opinion.

 Critical Audit Matters

 Critical audit matters are matters arising from
the current period audit of the financial statements that were communicated or required to be communicated to the audit committee and
that (1) relate to accounts or disclosures that are material to the financial statements and (2) involved our especially challenging,
subjective, or complex judgments. We determined that there were no critical audit matters.

 Fruci & Associates II, PLLC – PCAOB ID #05525

 We have served as the Company's auditor since 2023.

 Spokane, Washington

 October
 11, 2024

 F- 2

 Report of Independent Registered Public Accounting
Firm

 To the Board of Directors and Stockholders of:

 GHST World, Inc.

 Opinion on the Financial Statements

 We have audited the accompanying consolidated balance
sheet of GHST World, Inc. and Subsidiaries (the "Company") as of June 30, 2023, the related consolidated statements of operations,
changes in stockholders' deficit, and cash flows, for the year then ended, and the related notes (collectively referred to as the
"consolidated financial statements"). In our opinion, the consolidated financial statements present fairly, in all material
respects, the consolidated financial position of the Company as of June 30, 2023, and the consolidated results of its operations and its
cash flows for the year then ended, in conformity with accounting principles generally accepted in the United States of America.

 Going Concern

 The accompanying consolidated financial statements
have been prepared assuming that the Company will continue as a going concern. As discussed in Note 2 to the consolidated financial statements,
the Company has a net loss and cash used in operations of $116,574 and $93,308, respectively, in 2023 and a working capital deficit, stockholders'
deficit and accumulated deficit of $121,513, $121,513 and $13,370,665 respectively, at June 30, 2023. These matters raise substantial
doubt about the Company's ability to continue as a going concern. Management's Plan in regard to these matters is also described
in Note 2. The consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty.

 Basis for Opinion

 These consolidated financial statements are the responsibility
of the Company's management. Our responsibility is to express an opinion on the Company's consolidated financial statements
based on our audit. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) ("PCAOB")
and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable
rules and regulations of the Securities and Exchange Commission and the PCAOB.

 We conducted our audit in accordance with the standards
of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the consolidated
financial statements are free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we
engaged to perform, an audit of internal control over financial reporting. As part of our audit we are required to obtain an understanding
of internal control over financial reporting but not for the purpose of expressing
an opinion on the effectiveness of the Company's internal control over financial reporting. Accordingly, we express no such opinion.

 2295 NW Corporate Blvd., Suite 240
• Boca Raton, FL 33431

 Phone: (561) 995-8270 • Toll
Free: (866) CPA-8500 • Fax: (561) 995-1920

 www.salbergco.com • info@salbergco.com

 Member National Association of
Certified Valuation Analysts • Registered with the PCAOB

 Member
CP AC onnect
with Affiliated Offices Worldwide • Member Center for Public Company Audit Firms

 F- 3

 Our audit included performing procedures to assess
the risks of material misstatement of the consolidated financial statements, whether due to error or fraud, and performing procedures
that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the
consolidated financial statements. Our audit also included evaluating the accounting principles used and significant estimates made by
management, as well as evaluating the overall presentation of the consolidated financial statements. We believe that our audit provides
a reasonable basis for our opinion.

 Critical Audit Matters

 The critical audit matters communicated below are
matters arising from the current period audit of the consolidated financial statements that were communicated or required to be communicated
to the audit committee and that: (1) relate to accounts or disclosures that are material to the consolidated financial statements and
(2) involved our especially challenging, subjective, or complex judgments. We determined there were no critical audit matters.

 /s/ Salberg & Company, P.A.

 SALBERG & COMPANY, P.A.

 We have served as the Company's auditor since
2022.

 Boca Raton, Florida

 October 13, 2023

 F- 4

 Consolidated Balance Sheets

 June 30, 2024

 June 30, 2023

 Assets

 Current Assets

 Cash

 $
 18,302

 $

 Accounts receivable

 3,749

 —

 Total Current Assets

 22,051

 Total Assets

 $
 22,051

 $

 Liabilities and Stockholders' Deficit

 Current Liabilities

 Accounts payable and accrued expenses

 $
 13,814

 $
 1,112

 Advances from related parties

 269,854

 126,496

 Common stock payable

 9,559

 9,559

 Deferred revenue

 37,098

 23,841

 Total Current Liabilities

 330,325

 161,008

 Commitments and Contingencies (Note 7)

 —

 —

 Stockholders' Deficit

 Preferred stock, $ 0.001 par value; 10,000,000 shares authorized;

 Series A, 6,000 shares issued and outstanding at June 30, 2024 and 2023

 Series B, 2,200 shares issued and outstanding at June 30, 2024 and 2023

 Common stock, $ 0.001 par value, 300,000,000 shares authorized; 130,201,179 and 125,725,003 shares issued at June 30, 2024 and 2023

 130,201

 125,725

 Additional paid-in-capital

 13,443,466

 13,123,419

 Accumulated deficit

 ( 13,881,949
)

 ( 13,370,665
)

 Total Stockholders' Deficit

 ( 308,274
)

 ( 121,513
)

 Total Liabilities and Stockholders' Deficit

 $
 22,051

 $

 The
accompanying notes are an integral part of these consolidated financial statements.

 F- 5

 Consolidated Statements of Operations

 For the Years Ended

June 30,

 2024

 2023

 Revenues

 $
 40,916

 $
 3,078

 Operating expenses:

 General and administrative expenses

 540,069

 114,622

 Patent development costs

 11,814

 4,803

 Total operating expenses

 551,883

 119,425

 Other Income(expense):

 Other income

 ( 317
)

 ( 227
)

 Total Other Income (expense)

 ( 317
)

 ( 227
)

 Net loss

 $
 ( 511,284
)

 $
 ( 116,574
)

 Net loss per common share -

 Basic

 $
 ( 0.00
)

 $
 ( 0.00
)

 Diluted

 $
 ( 0.00
)

 $
 ( 0.00
)

 Weighted average number of common shares outstanding -

 Basic

 129,051,560

 125,042,819

 Diluted

 129,051,560

 125,042,819

 The
accompanying notes are an integral part of these consolidated financial statements.

 F- 6

 Consolidated Statement of Changes in Stockholders'
Deficit

 For the Years Ended June 30, 2024 and 2023

 Preferred Stock

 Preferred Stock

 Additional

 Total

 Series A

 Series B

 Paid in

 Accumulated

 Stockholders'

 Shares

 Amount

 Shares

 Amount

 Shares

 Amount

 Capital

 Deficit

 Deficit

 Balance June 30, 2022

 6,000

 $

 2,200

 $

 124,430,534

 $
 124,431

 $
 13,028,646

 $
 ( 13,254,091
)

 $
 ( 101,006
)

 Issuance of common stock for services

 —

 —

 —

 —

 1,294,469

 1,294

 94,773

 96,067

 Net loss for the year ended June 30, 2023

 ( 116,574
)

 ( 116,574
)

 Balance June 30, 2023

 6,000

 $

 2,200

 $

 125,725,003

 $
 125,725

 $
 13,123,419

 $
 ( 13,370,665
)

 $
 ( 121,513
)

 Issuance of common stock for services

 —

 —

 —

 —

 4,476,176

 4,476

 320,047

 —

 324,523

 Net loss for the year ended June 30, 2024

 —

 —

 —

 —

 —

 —

 —

 ( 511,284
)

 ( 511,284
)

 Balance June 30, 2024

 6,000

 $

 2,200

 $

 130,201,179

 $
 130,201

 $
 13,443,466

 $
 ( 13,881,949
)

 $
 ( 308,274
)

 The
accompanying notes are an integral part of these consolidated financial statements.

 F- 7

 Consolidated Statements of Cash Flows

 For the Years Ended
 June 30,

 2024

 2023

 CASH FLOWS FROM OPERATING ACTIVITIES

 Net loss

 $
 ( 511,284
)

 $
 ( 116,574
)

 Adjustments to reconcile net loss to net cash used in operating activities:

 Stock compensation

 324,523

 —

 Changes in operating assets and liabilities:

 Accounts receivable

 ( 3,749
)

 —

 Accounts payable and accrued expenses

 12,702

 ( 574
)

 Deferred revenue

 13,257

 23,841

 Net Cash Used In Operating Activities

 ( 164,551
)

 ( 93,307
)

 CASH FLOWS FROM FINANCING ACTIVITIES

 Advances from related parties

 143,358

 36,529

 Issuance of common stock for cash

 —

 96,067

 Net Cash Provided By Financing Activities

 143,358

 132,596

 Net increase (decrease) in cash

 ( 21,193
)

 39,289

 Cash - beginning of period

 Cash - end of period

 $
 18,302

 $

 SUPPLEMENTARY DISCLOSURE OF CASH FLOW INFORMATION:

 Cash paid during the year/period for:

 Interest

 $
 —

 $
 —

 Taxes

 $
 —

 $
 —

 The
accompanying notes are an integral part of these consolidated financial statements.

 F- 8

 NOTE 1- ORGANIZATION, DESCRIPTION OF BUSINESS

 Background

 GHST World Inc. ("the Company"), is a
Delaware corporation that was incorporated on November 12, 1999. The Company is a holding company for various technology and other activities.
The Company has acquired and is developing several patents in the technology sector.

 NOTE 2- SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
AND BASIS OF PRESENTATION

 Liquidity and Going Concern

 The financial statements have been prepared on a going
concern basis which assumes the Company will be able to realize its assets and discharge its liabilities in the normal course of business
for the foreseeable future. The Company had net losses of $ 511,284 and $ 116,574 for the years ended June 30, 2024 and 2023. The Company
has an accumulated deficit of $ 13,881,949 and $ 13,370,665 for the years ended June 30, 2024 and 2023, respectively and a stockholders'
deficit of $ 308,274 and $ 121,513 as of June 30, 2024 and 2023. The Company used $ 164,551 and $ 93,307 in cash flow from operating activities
for the years ended June 30, 2024 and 2023.

 Management believes these conditions raise substantial
doubt about the Company's ability to continue as a going concern for the next twelve months from the date these financial statements
were issued. The ability to continue as a going concern is dependent upon profitable future operations, positive cash flows, and additional
financing. These financial statements do not include any adjustments related to the recovery and classification of recorded asset amounts
and classifications of liabilities that might be necessary should the Company be unable to continue as a going concern.

 Management intends to raise money through investors
as needed to support its working capital needs. Currently the Company intends to raise capital from its existing shareholders and from
the possible sale of a minority interest in its subsidiaries. Management cannot provide any assurances that the Company will be successful
in completing these undertakings and accomplishing any of its plans.

 Principles of Consolidation

 The consolidated financial statements include the
accounts of the following wholly owned subsidiaries:

 GHST Art World, Inc

 GHST Sport Inc.

 IoTT world Inc.

 Insside World Inc.

 All intercompany balances and transactions have been
eliminated in consolidation.

 Concentration

 The Company's financial instruments that are
exposed to concentrations of credit risk primarily consist of its cash. The Company places its cash with financial institutions of high
credit worthiness. At times, its cash with a particular financial institution may exceed any applicable government insurance limits. The
Company's management plans to assess the financial strength and credit worthiness of any parties to which it is a credit counterparty,
and as such, it believes that any associated credit risk exposures are limited.

 F- 9

 The Company currently receives nearly all its revenues
from two customers and all the deferred revenues from a few other customers. The Company is dependent on its chairman of the Board for
short term funding, who has provided a significant portion of the funding through June 30, 2024.

 Foreign Currency

 Transaction gains and losses are recognized in earnings.
The Company is subject to foreign exchange rate fluctuations in connection with the Company's international transactions as certain
vendor payments and repayments of related party advances are done in foreign currency.

 Use of Estimates

 The preparation of financial statements in conformity
with accounting principles generally accepted in the United States of America 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 and the reported amounts of revenues and expenses during the reporting period.

 Such estimates and assumptions impact, among others,
the following: fair value of share-based payments and deferred taxes.

 Making estimates requires management to exercise significant
judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed
at the date of the financial statements, which management considered in formulating its estimate could change in the near term due to
one or more future confirming events. Accordingly, the actual results could differ significantly from estimates.

 Cash

 Cash are amounts held at local banks. The Company
had no cash equivalents at June 30, 2024 and 2023.

 Risks and Uncertainties

 The Company is undertaking a new business venture
that is inherently subject to significant risks and uncertainties, including financial, operational, technological and other risks that
could potentially have a risk of business failure.

 Revenue Recognition

 The Company recognizes revenue in accordance with Accounting Standards
Codification ("ASC") 606, the core principle of which is that an entity 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 to receive
in exchange for those goods or services. The provisions of ASC Topic 606 require the following steps to determine
revenue recognition: (1) Identify the contract(s) with a customer; (2) Identify the performance obligations in the contract; (3) Determine
the transaction price; (4) Allocate the transaction price to the performance obligations in the contract; and (5) Recognize revenue when
(or as) the entity satisfies a performance obligation.

 The Company derives most of its revenues to date from
consulting services. These services are contractual and contain identified performance obligations and are historically paid by the customer
at the signing of the consulting contract. The Company recognizes revenues only when these identifiable performance obligations are satisfied.
Payments that are received from customers in advance of when services are satisfactorily completed are reflected as deferred revenue on
the accompanying consolidated balance sheets.

 Accounts Receivable

 Accounts receivables are recorded at the invoiced
amount. The Company regularly reviews its receivables on a customer-by-customer basis and evaluates whether an allowance for doubtful
accounts is necessary based on any known or perceived collection issues. As of June 30, 2024 and 2023, the company did no t record any
such allowance.

 F- 10

 Fair Value

 The carrying value of cash, other assets, accounts
and other payable approximate their fair value based on the liquidity or the short-term maturities of these instruments. The fair value
hierarchy promulgated by GAAP consists of three levels:

 Level one — Quoted market prices in active markets for identical assets or liabilities.

 Level two — Inputs other than level one inputs that are either directly or indirectly observable; and

 Level three — Unobservable inputs developed using estimates and assumptions, which are developed by the reporting entity and reflect those assumptions that a market participant would use.

 Determining which category an asset or liability falls
within the hierarchy requires significant judgment. The Company evaluates its hierarchy disclosures each quarter. The Company has
 no assets or liabilities that are measured at fair value on a recurring and/or non-recurring during the years ended June 30, 2024 and
2023.

 Impairment of Long-Lived Assets

 The Company accounts for impairment of long-lived
assets in accordance with Accounting Standards Codification ("ASC") 360, Property, Plant and Equipment, ("ASC 360").
Long-lived assets for the Company consist primarily of other assets and patents. In accordance with ASC 360, the Company periodically
evaluates long-lived assets whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable.
When triggering event indicators are present, the Company obtains appraisals on an asset-by-asset basis and will recognize an impairment
loss when the sum of the appraised values is less than the carrying amounts of such assets. The appraised values, based on reasonable
and supportable assumptions and projections, require subjective judgments. Depending on the assumptions and estimates used, the appraised
values projected in the evaluation of long-lived assets can vary within a range of outcomes. The appraisals consider the likelihood of
possible outcomes in determining the best estimate for the value of the assets.

 Research and Development

 Research and development costs are expensed as incurred.
These costs consist primarily of costs related to the development of new products.

 Income Taxes

 Deferred tax assets and liabilities are recognized
for the future tax consequences attributable to temporary differences between the financial statement carrying amounts of existing assets
and liabilities and the respective tax bases. Deferred tax assets, including tax loss and credit carryforwards, and liabilities are measured
using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered
or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes
the enactment date. Deferred income tax expense represents the change during the period in the deferred tax assets and deferred tax liabilities.
Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion
or all of the deferred tax assets will not be realized.

 The effect of income tax positions is recognized only
if those positions are more likely than not of being sustained. Recognized income tax positions are measured at the largest amount that
is greater than 50% likely of being realized. Changes in recognition or measurement are reflected in the period in which the change in
judgment occurs.

 Stock Based Compensation

 The Company applies the fair value method of ASC 718,
Share Based Payment, in accounting for its stock-based compensation. This accounting standard states that compensation cost is measured
at the grant date based on the value of the award and is recognized over the service period, which is usually the vesting period, if any.
We measure stock-based compensation using the fair market value of the Company's common stock on the date of the grant.

 F- 11

 Net Loss Per Share

 Basic net loss per share is computed by dividing the
net loss by the weighted average number of shares of common stock outstanding during the periods presented. Diluted net loss per common
share is computed using the weighted average number of common shares outstanding for the period, and, if dilutive, potential common shares
outstanding during the period. Potential common shares consist of the incremental common shares issuable upon the exercise of stock options,
stock warrants, convertible debt instruments or other common stock equivalents. Potentially dilutive securities are excluded from the
computation if their effect is anti-dilutive. The Company had no potentially dilutive securities outstanding for the years ended June
30, 2024 or 2023.

 Recent Accounting Pronouncements

 In June 2016, the FASB issued ASU No. 2016-13, Financial
Instruments – Credit Losses: Measurement of Credit Losses on Financial Instruments ("ASU 2016-13"). This ASU requires
measurement and recognition of expected credit losses for financial assets. ASU 2016-13 also requires new disclosures for financial assets
measured at amortized cost, loans, and available-for-sale debt securities. ASU 2016-13 is effective for the Company beginning July 1,
2023. Adopting the standard did not have a material impact on the unaudited consolidated financial statements.

 There are no other recent accounting pronouncements
that are expected to have a material effect on the Company's financial statements.

 NOTE 3- PATENTS

 The Company obtained
a US patent dated June 30, 2020, which is a protection device used in sporting activity with monitoring capabilities. The Company has also obtained a European and Hong Kong Patent for the same
device in March 2023. The Company has expensed a total of $ 55,798 of costs to register and develop the patent, since obtaining such patent.
For the years ended June 30, 2024 and 2023, the Company has expensed $ 11,814 and $ 4,803, respectively.

 NOTE 4- COMMON STOCK PAYABLE

 The Company has an agreement with certain investors
to convert their investment into common stock of the Company at a price equal to the average value of the stock over the previous six
months. The conversion was contingent on the Company effectuating a 1-for-100 reverse stock split which was effected on September 30,
2021. As of June 30, 2024 and 2023, the Company has a total of $ 9,559 that has not been converted to common stock.

 NOTE 5- RELATED PARTY TRANSACTIONS

 At June 30, 2024 and 2023, the Company owed related
parties a total of $ 269,854 and $ 126,496, respectively. These shareholder loans are unsecured, non-interest bearing and are due on demand.

 As shown in Note 4, the Company has committed to
converting certain debts to equity. Included in the debts is $ 9,559
as of June 30, 2024 and 2023, of amounts due to related parties that will be converted as described in Note 4.

 NOTE 6- STOCKHOLDERS' DEFICIT

 On September 22, 2023, the company entered into an
agreement with cross-ING AG, an artificial intelligence development entity in Switzerland. The joint venture was formed to create and
deliver the software package tailored for GHST Sport Inc. The start of the project was October 2, 2023, with the initial payment due upon
each milestone's endorsement by the Steering Group, totaling 40,000 CHF (approximately 45,272 USD). In connection with the agreement
the Company issued 4,476,176 shares of common stock on October 2, 2023, which the recipient has agreed not to sell for a period of two
years. For accounting purposes, the value of the shares on the date of issuance was $ 324,523 based on the closing price of the Company's
stock on September 22, 2023. Royalties will also be due under this agreement amounting to 1 CHF per unit sold up to 150,000 units.

 Preferred
Stock Series A and B

 There
are currently 6,000 shares of Series A Preferred Stock and 2,200 shares of Preferred Series B Stock issued and outstanding,
Series A Preferred Stock is entitled to 25,000 votes per share and Series B Preferred Stock has a special liquidation preference
equal to $ 27.50 per share.

 F- 12

 NOTE 7- COMMITMENTS AND CONTINGENCIES

 Legal Matters

 From time to time, we may be involved in litigation
relating to claims arising out of our operations in the normal course of business. There are no pending or threatened lawsuits that could
reasonably be expected to have a material effect on the results of our operations.

 NOTE 8- INCOME TAXES

 The company accounts for income taxes under
ASC 740, Income Taxes, which requires the recognition of deferred tax assets and liabilities based on the difference between the financial
statement basis and tax basis of assets and liabilities by using enacted tax rates in effect for the year. The company had no unrecognized
tax benefits at June 30, 2024 or 2023.

 The Company has accumulated losses of approximately
$13.8 million since its inception. For income tax purposes, the Company has operating loss carryforwards of approximately $3.6 million
from tax years beginning in 2007, that begin to expire in 2027. These operating losses are subject to the limitations which were enacted
in the Tax Cuts and Jobs Act ("TCJA"). These operating losses can offset only 80% of taxable income in any given tax year.
The carryover period for these operating losses is indefinite. No federal or state tax asset has been reported in the financial statements
because the Company believes there is a 50% or greater chance that the carryforwards will expire unused. Accordingly, the potential tax
benefits of the loss carryforwards (approximately $ 913,000 based on an a effective combined federal and state tax rate of 25.35 %) have
been offset by a valuation allowance of the same amount.

 The following is a reconciliation of income
tax rate:

 Schedule of reconciliation of income tax rate

 June 30, 2024

 June 30, 2023

 Federal tax rate

 21.00
 %

 21.0
 %

 State tax rate

 5.50
 %

 5.50
 %

 Federal tax benefit of State Taxes

 ( 1.15
)%

 ( 1.15
)%

 Combined effective tax rate

 25.35
 %

 25.35
 %

 Less valuation allowance

 ( 25.35
)%

 ( 25.35
)%

 Tax rate

 0.00
 %

 0.00
 %

 NOTE 9- SUBSEQUENT EVENTS

 The Company evaluates subsequent events and transactions
that occur after the balance sheet date up to the date that the consolidated financial statements were issued for potential recognition
or disclosure. The Company did not identify any subsequent events that would have required adjustment or disclosure in the consolidated
financial statements.

 F- 12

 ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS
ON ACCOUNTING AND FINANCIAL DISCLOSURE.

 ITEM 9A.
CONTROLS AND PROCEDURES.

 Evaluation of Disclosure Controls and Procedures

 We carried out an evaluation, under the supervision
and with the participation of our management, including our Chief Executive Officer and Co-Chief Financial Officers, of the effectiveness
of our disclosure controls and procedures, as defined in Rules 13a-15(e) and 15d-15(e) of the Securities Exchange Act of 1934 (the "Exchange
Act") as of the end of the period covered by this report. Based on that evaluation, our Chief Executive Officer and Co-Chief Financial
Officers have concluded that our disclosure controls and procedures as of June 30, 2024 were not effective to ensure that information
required to be disclosed by us in reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported
within the time periods specified in the Securities and Exchange Commission's rules and forms because of a material weakness in
the Company's internal control over financial reporting. Specifically, the Company did not maintain effective controls and procedures
to support the identification of, accounting for, and the evaluation and disclosure of the valuation for impairment of intangible and
other assets, the valuation for stock-based non-cash issuances, and revenue recognition including with respect to material contingencies
related to the revenue and the deferred liabilities.

 In addition, the Company did not maintain
effective controls to identify, and maintain segregation of duties to authorize and approve, support the identification of, accounting
for, and the disclosure of related-party transactions and non-routine transactions, as one individual, the Chief Executive Officer, initiates
related-party transactions and non-routine transactions and also reviews, evaluates and approves these same transactions.

 Management's Annual Report on Internal
Control over Financial Reporting

 Our management is responsible for establishing
and maintaining adequate internal control over financial reporting as defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act.
Our internal control over financial reporting is designed to provide reasonable assurance regarding the reliability of financial reporting
and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. Our internal
control over financial reporting includes those policies and procedures that:

 pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of our assets;

 provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that our receipts and expenditures are being made only in accordance with authorizations of our management and directors; and

 provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of our assets that could have a material effect on the financial statements.

 Because of its inherent limitations, internal
control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future
periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance
with policies or procedures may deteriorate.

 Our management assessed the effectiveness
of our internal control over financial reporting based on the parameters set forth above and has concluded that as of June 30, 2024, our
internal control over financial reporting was not effective to provide reasonable assurance regarding the reliability of financial reporting
and the preparation of financial statements for external purposes in accordance with U.S. generally accepted accounting principles ("US
GAAP") as a result of the following material weaknesses:

 The Company does not have sufficient segregation of duties within accounting functions.

 The Company does not have written documentation of our internal controls policies and procedures.

 A substantial portion of the Company's financial reporting is carried out by an outside accounting firm.

 The Company's human resources, processes and systems are not sufficient to enable the production of timely and accurate financial statements in accordance with US GAAP.

 We plan to rectify these weaknesses by establishing
written policies and procedures for our internal control of financial reporting and hiring additional accounting personnel at such time
as we raise sufficient capital to do so.

 ITEM 9B. OTHER INFORMATION.

 Insider Trading Arrangements and Policies

 During the quarter ended June 30, 2024, no director
or officer of the Company adopted or terminated a "Rule 10b5-1 trading arrangement" or "non-Rule 10b5-1 trading arrangement"
as each term is defined in Item 408(a) of Regulation S-K.

 Other Information

 None.

 ITEM 9C. DISCLOSURE REGARDING FOREIGN JURISDICTIONS
THAT PREVENT INSPECTIONS.

 ITEM 10.
DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE

 The following is a list of our directors and executive
officers. All directors serve one-year terms or until each of their successors are duly qualified and elected. The officers are elected
by the Board of Directors.

 Name

 Age

 Position(s)

 Edoardo Berti Riboli

 Chief Executive Officer

 Paolo Sangiovanni

 Co-Chief Financial Officer

 Marcello Appella

 Co-Chief Financial Officer

 Massimiliano Stella

 Chief Information Officer

 Esterino Castellazzi

 President and Chairman of the Board of Directors

 Giovanni Lavati

 Secretary, Treasurer and
 Director

 Pierangelo Negri

 Director

 Edoardo Berti Riboli has been the Company's
Chief Executive Officer since 2017. Mr. Riboli is a lawyer practicing in Rimond Group since 2017 located in Milan and Rome, Italy. From
2010 to 2016, Mr. Riboli practiced in Studio Legale Pettinello law firm.

 Paolo Sangiovanni has been the Company's
Co-Chief Financial Officer since 2017. Mr. Sangiovanni is the Chief Executive Officer and Chairman of the Board of Alchemy Business Management
Ltd. Since September 2009, he has been the Managing Director of Management Asset Planning Ltd. Since 2014, he has been the Chairman of
the Board of Mapbiz Holdings SA. From September 2013 to January 2017, he was the Managing Director of Ozone Int. Ltd. Since September
2012 he has been the Managing Director of Mapleton Films Ltd. On May 2016, he was the Chairman of the Board of Acorn Global Partners Ltd.

 Marcello Appella has been the Company's
Co-Chief Financial Officer since March 19, 2019. Since 1996, Mr. Appella is the Chief Executive Officer and owner of ADI Sarl.

 Massimiliano Stella has been the Company's
Chief Information Officer since February 2021. Since July 2020, he has provided services to businesses as a management and software consultant.
From July 2016 to May 2020, he served as President of E-Win S.r.l., a software company focused on enterprise resource planning (ERP) applications.
From January 2005 until May 2020, he served as Chief Executive Officer at GoodWorks S.r.l., a software development and distribution company.

 Esterino Castellazzi has been President and Chairman of the Board of Directors of the Company.
Formerly, Mr. Castellazzi served as the Company's Vice President from July 28, 2008 to 2017. Since 2016, Mr. Castellazzi has been
the liquidator for Contractor Spa. From 2006 to 2016, Mr. Castellazzi served as the Chief Executive Officer of the advertising company
Ghost Technology Spa of the European Union. From 2004 to 2016, he was the Chief Executive Officer of Gaved Srl. a publishing company.
Mr. Castellazzi was also an officer and part owner of the DVD recording company In Service Media Video, Srl from 2002 to 2016, and was
the Chief Executive Officer of the multimedia company M.C. Video Srl from 1997 to 2015. Mr. Castellazzi was appointed a director because
of his knowledge of the Company and its business.

 Giovanni Lavati has been a director of the Company since May 13, 2016. Since 2016,
Mr. Lavati is the Project Manager for Expertise SRL. Mr. Lavati was appointed a director because of his experience and skill in managing
businesses.

 Pierangelo Negri has been a director of GHST
since 2017. Since 2000, Mr. Negri has been the Chief Executive Officer and owner of FAPI Service Ltd. Mr. Negri was appointed a director
because of his experience and expertise in capital markets.

 Family Relationships

 There are no family relationships among our directors
or officers. However, Roberto Castellazzi, the Company's Operations Manager and Chief Executive Officer and Chairman of the Board
of Directors of GHST Sport Inc., is the son of Esterino Castellazzi, the Company's President and Chairman of the Board of Directors.

 Director Independence

 Our Board has determined that each of our directors
with the exceptions of Messrs. Castellazzi and Lavati are independent under the Nasdaq Stock Market listing rules.

 Committees of the Board of Directors

 We presently do not have an audit committee, compensation
committee, or other committee or committees performing similar functions, as our board of directors and management believe that until
recently it has been premature at the early stage of our Company's business development to form an audit, compensation or other
committees. Each member of our Board considers candidates for directorship and executive officer and director compensation. Presently,
our full Board of Directors fill the role of the audit committee.

 Delinquent Section 16(a) Reports

 Section 16(a) of the Exchange Act requires our directors,
executive officers, and persons who own more than 10% of our common stock to file initial reports of ownership and changes in ownership
of our common stock and other equity securities with the SEC. These individuals are required by the regulations of the SEC to furnish
us with copies of all Section 16(a) forms they file. Based solely on a review of the copies of the forms furnished to us, and written
representations from reporting persons, we believe that all filing requirements applicable to our officers, directors and 10% beneficial
owners were complied with for the fiscal year ended June 30, 2024.

 Code of Ethics & Insider
Trading Policy

 Our Board has adopted a Code
of Ethics that applies to all of our employees, including our Chief Executive Officer and Co-Chief Financial Officers. Although not required,
the Code of Ethics also applies to our directors. The Code of Ethics provides written standards that we believe are reasonably designed
to deter wrongdoing and promote honest and ethical conduct, including the ethical handling of actual or apparent conflicts of interest
between personal and professional relationships, full, fair, accurate, timely and understandable disclosure and compliance with laws,
rules and regulations, including insider trading, corporate opportunities and whistleblowing or the prompt reporting of illegal or unethical
behavior. A copy of our Code of Ethics is filed as Exhibit 14.1.

 Our Board adopted an Insider
Trading Policy that applies to our officers, directors, and employees. A copy of our Insider Trading Policy is filed as Exhibit 19.1 to
this Report.

 Shareholder Communications

 Although we do not have a formal policy regarding
communications with the Board, shareholders may communicate with the Board by writing to us at GHST World, Inc., 667 Madison Avenue, 5th
Floor, New York, NY 10065. Shareholders who would like their submission directed to a member of the Board may so specify, and the communication
will be forwarded, as appropriate.

 ITEM 11.
EXECUTIVE COMPENSATION.

 Summary Compensation Table

 The officers of the Company have not received any
compensation paid, distributed nor accrued from the Company for the last two fiscal years.

 Director Compensation

 The directors of the Company have not received any
compensation paid, distributed nor accrued from the Company for the last two fiscal years.

 ITEM 12.
SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS.

 The following table sets forth the number of shares
of GHST's voting stock beneficially owned as of September 23, 2024, by (i) those persons known by GHST to be owners of more than
5% of GHST's common stock, (ii) each director of GHST, (iii) all Named Executive Officers (as defined in Item 6), and (iv) all executive
officers and directors of GHST as a group:

 Title of Class

 Name and Address of Beneficial Owner

 Amount and

 Nature of Beneficial

 Owner(1)

 Percentage of Common Stock+

 Percent of

Voting Power (1)

 Directors and Executive Officers:

 Common Stock and Preferred Stock

 Esterino Castellazzi(2)(3)(4)

 124,939,535

 19.2%

 44.6%

 Edoardo Berti Riboli(3)

 *

 *

 Paolo Sangiovanni(3)(5)

 100,000

 *

 *

 Giovanni Lavati(2)(3)

 17,085,762

 13.1%

 6.1%

 Marcello Appella(3)

 *

 *

 Pierangelo Negri(2)

 1,000

 *

 *

 Massimiliano Stella(3)

 *

 *

 All directors and executive officers as a group (6 persons)

 142,126,297

 64.7%

 50.7%

 5% Shareholders:

 Preferred Stock

 Bank Investments Inc.(6)

 1,800

 *

 16.1%

 -------

 * Less than 1%

 + N/A to the Series A (as defined in footnote (1)).
As such, shares of Series A and underlying voting power are not included in this percentage.

 (1)

 Represents voting power. Applicable percentages are based on 130,201,179 shares of common stock and 6,000 shares of Series A Preferred Stock (the "Series A") with 150,000,000 votes outstanding, adjusted as required by rules of the SEC beneficial ownership is determined under the rules of the SEC and generally includes voting or investment power with respect to securities. Shares of common stock subject to options, warrants and convertible notes currently exercisable or convertible, or exercisable or convertible within 60 days are deemed outstanding for computing the percentage of the person holding such securities but are not deemed outstanding for computing the percentage of any other person. It does not include options held by our management, which are subject to performance standards. Unless otherwise indicated in the footnotes to this table, GHST believes that each of the shareholders named in the table has sole voting and investment power with respect to the shares indicated as beneficially owned by them.

 (2)

 A director.

 (3)

 An executive officer.

 (4)

 Includes 4,000 shares of Series A. Each share of Series A is entitled to 25,000 votes per share. Does not include 2,000 shares of Series B Preferred Stock which has a liquidation preference of $27.50 per share.

 (5)

 Represents 100,000 shares of common stock held by Palmetum Business SL, an entity owned and controlled by Mr. Sangiovanni.

 (6)

 Consists of 1,800 shares of Series A. Each share of Series A is entitled to 25,000 votes per share. Address is 45 Rockefeller Plaza Suite 2000 NY. Francesco Pegioani is the President of this entity and holds voting and dispositive control of the securities.

 ITEM 13.
CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE.

 Set forth below is a brief description of the transactions
since July 1, 2022 in excess of $30,733, which is 1% of our total assets for FY 2024 and FY 2023 in which the Company was a participant
and in which any director or executive officer of the Company, any known 5% or greater stockholder of the Company or any immediate family
member of any of the foregoing persons, had a direct or indirect material interest as defined in Item 404(a) of Regulation S-K. As permitted
by the SEC rules, discussion of employment relationships or transactions involving the Company's executive officers and directors,
and compensation solely resulting from such employment relationships or transactions, or service as a director of the Company, as the
case may be, has been omitted to the extent disclosed in the Executive Compensation or the Director Compensation section of this Report,
as applicable.

 As of October 8, 2024 the Company owed related parties
a total of $300,762. These related party loans are unsecured, non-interest bearing and are due on demand. Included in these loans are
amounts advanced by Esterino Castellazzi, the Company's President and Chairman of the Board of Directors and a principal stockholder,
who advanced $142,959 in FY 2024 and $36,260 in FY 2023.

 ITEM 14. PRINCIPAL ACCOUNTING FEES AND SERVICES.

 All of the services provided and fees charged by our
independent registered public accounting firm, were approved by our Board of Directors. The following table shows the fees paid to our
independent registered public accounting firm for the fiscal years ended June 30, 2024 and 2023.

 Year
 Ended June 30,

 2024
 (2)

 2023 (3)

 Audit Fees (1)

 $
 58,000

 $
 62,000

 Audit Related Fees

 —

 —

 Tax Fees

 —

 —

 All Other Fees

 —

 —

 Total

 $
 58,000

 $
 62,000

 -------

 (1)

 Audit
fees relate to the audits of our annual financial statements and the review of our interim quarterly financial statements.

 (2)

 Represents fees paid to
 Fruci & Associates II, PLLC, the Company's current independent registered public accounting firm, for FY 2024.

 (3)

 Represents
 fees paid to Salberg & Company, P.A., the Company's former independent registered public
 accounting firm, for FY 2023.

 ITEM 15. EXHIBITS, FINANCIAL STATEMENT
SCHEDULES.

 Incorporated by Reference

 Filed or

 Furnished

 Exhibit #

 Exhibit Description

 Form

 Date

 Number

 Herewith

 2.1

 Certificate of Merger

 2/18/2010

 3.2

 3.1

 Amended and Restated Certificate of Incorporation

 10-12G

 3/9/2021

 3.1

 3.1(a)

 Certificate of Amendment to Certificate of Incorporation (Reverse Stock Split)

 11/15/2021

 3.2

 3.1(b)

 Certificate of Amendment to Certificate of Incorporation (Decrease in Authorized Capital)

 11/15/2021

 3.3

 3.1(c)

 Certificate of Designation

 2/18/2010

 3.3

 3.2

 Amended and Restated Bylaws

 10-12G

 3/9/2021

 3.3

 14.1

 Code of Ethics

 10/13/23

 14.1

 16.1

 Letter from Salberg & Company, P.A. dated October 27, 2023

 10/30/2023

 16.1

 19.1

 Insider Trading Policy

 10/13/23

 19.1

 21.1

 List of Subsidiaries

 Filed

 31.1(a)

 Certification of Principal Executive Officer (302)

 Filed

 31.1(b)

 Certification of Principal Financial Officer (302)

 Filed

 31.1(v)

 Certification of Principal Financial Officer (302)

 Filed

 32.1

 Certification of Principal Executive and Principal Financial Officers (906)

 Furnished*

 101.INS

 Filed

 101.SCH

 Filed

 101.CAL

 Filed

 101.DEF

 Filed

 101.LAB

 Filed

 101.PRE

 Filed

 *This exhibit is being furnished rather than filed
and shall not be deemed incorporated by reference into any filing, in accordance with Item 601 of Regulation S-K.

 ** Portions of this exhibit have been omitted as permitted
by the rules of the SEC. The information excluded is both (i) treated by the Company as private or confidential and (ii) not material.
The Company undertakes to submit a marked copy of this exhibit for review by the SEC staff, to the extent it has not been previously provided,
and provide supplemental materials to the SEC staff promptly upon request.

 Copies of the exhibits referred to above will be furnished
at no cost to our shareholders who make a written request to GHST World Inc., 667 Madison Avenue, 5th Floor, New York, NY 10065.

 ITEM 16. FORM 10-K SUMMARY.

 SIGNATURES

 Pursuant to the requirements of the Securities Exchange
Act of 1934, the registrant has duly caused this Report to be signed on its behalf by the undersigned, thereunto duly authorized.

 By:

 /s/ Edoardo Berti Riboli

 Edoardo Berti Riboli, Chief Executive Officer

 (Principal Executive Officer)

 Pursuant to the requirements
of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant and in
the capacities and on the dates indicated.

 By:

 /s/ Edoardo Berti Riboli

 Edoardo Berti Riboli, Chief Executive Officer

 (Principal Executive Officer)

 By:

 /s/ Marcello Appella

 Marcello Appella, Co-Chief Financial Officer

 (Principal Financial Officer)

 By:

 /s/ Paolo Sangiovanni

 Paolo Sangiovanni, Co-Chief Financial Officer

 (Principal Financial Officer)

 By:

 /s/ Giovanni Lavati

 Giovanni Lavati, Director

 By:

 /s/ Esterino Castellazzi

 Esterino Castellazzi, Director

 By:

 /s/ Pierangelo Negri

 Pierangelo Negri, Director