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 UNITED
STATES

 SECURITIES
AND EXCHANGE COMMISSION

 Washington,
D.C. 20549

 FORM

 (Mark
One)

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

 FOR
THE FISCAL YEAR ENDED SEPTEMBER 30, 2023

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

 For
the transition period from _________ to __________

 Commission
File No. 0-56017

 GOLDEN
ROYAL DEVELOPMENT INC.

 (Exact
Name of Registrant as Specified in its Charter)

 Delaware

 81-4563277

 (State
 or other jurisdiction

 of
 incorporation or organization)

 (I.R.S.
 Employer

 ID
 Number)

 543 Bedford Avenue, Suite 176, New York, NY 11211

 (Address
 of principal executive offices)

 Issuer's
Telephone Number, including Area Code: 800 - 320-4394

 Securities
Registered Pursuant to Section 12(b) of the Act:

 Title
 of Each Class

 Trading
 Symbol

 Name
 of Each Exchange on Which Registered

 None

 None

 Not
 Applicable

 Securities
Registered Pursuant to Section 12(g) of the Act:

 Common
Stock, $.00001 par value per share

by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 406 of the Securities Act. Yes No

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

by check mark whether the registrant (1) has filed all reports required to be filed by Sections 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

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 and post such files.) Yes No

by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K (§ 229.405) is not contained herein, and
will not be contained, to the best of registrant's knowledge, in definitive proxy or information statements incorporated by reference
in Part III of this Form 10-K or any amendment to this Form 10-K. Yes No

 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.

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).

by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting
company. or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer,"
"smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act. (Check One)

 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 standards provided pursuant to Section 13(a) of the Exchange Act.

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

 As
of March 31, 2023 (the last business day of the most recently completed second fiscal quarter) the aggregate market value of the common
stock held by non-affiliates was $ 0, as there was no market for the common stock on that date.

 As
of March 1, 2024, there were 7,841,550 shares of common stock outstanding.

 DOCUMENTS
INCORPORATED BY REFERENCE: None

 FORWARD-LOOKING
STATEMENTS: NO ASSURANCES INTENDED

 In
addition to historical information, this Annual Report contains forward-looking statements, which are generally identifiable by use of
the words "believes," "expects," "intends," "anticipates," "plans to," "estimates,"
"projects," or similar expressions. These forward-looking statements represent Management's belief as to the future
of Golden Royal Development Inc. Whether those beliefs become reality will depend on many factors that are not under Management's
control. Many risks and uncertainties exist that could cause actual results to differ materially from those reflected in these forward-looking
statements. Factors that might cause such a difference include, but are not limited to, those discussed in Section 1A of this Report,
entitled "Risk Factors." Readers are cautioned not to place undue reliance on these forward-looking statements. We undertake
no obligation to revise or publicly release the results of any revision to these forward-looking statements.

 PART

 Item
 1.

 Business

Royal Development Inc. ("Golden Royal") was organized near the end of 2016 to engage in the business of purchasing and selling
mineral leases and other interests in mineral rights. If Golden Royal is able to secure adequate financing, Golden Royal may also participate
in drilling and/or mining operations. At present, Golden Royal's cash resources are sufficient only to fund its ongoing operations.
The operating assets that it now owns have been contributed by Jacob Roth, Golden Royal's majority shareholder, or purchased with
money contributed by Mr. Roth.

 Oil
and Gas Properties

 On
September 27, 2018, Jacob Roth assigned to Golden Royal all of the beneficial interest in two Wyoming oil and gas interests held in Jacob
Roth's name, and Golden Royal assumed responsibility for the expenses that accrue in relation to those interests. Specifically,
the Assignment Agreement transfers to Golden Royal "all of the benefits that may accrue to (Jacob Roth) from ownership of the Interests,
including any receipts of cash or distribution of assets, as well as the proceeds realized the on sale of either Interest, any of which
shall be promptly transferred by Roth to Golden Royal upon receipt." Conversely, Golden Royal assumed "responsibility for
prompt payment of all fees, rents, taxes and any other financial liabilities as may accrue to Roth by reason of his record ownership
of the Interests. The assignment and assumption will be effective until Jacob Roth ceases to be the record owner of the Interests.

 The
overriding royalty in the oil and gas lease on 320 acres of public lands in Converse County, Wyoming that Jacob Roth assigned to Golden
Royal on September 27, 2018 terminated on September 1, 2020. Therefore, the oil and gas interest now owned beneficially by Golden Royal,
by reason of the aforesaid Assignment Agreement, is:

 Fremont
County, WYW-185478. This is a ten-year mineral lease on 240 acres of public lands in Fremont County, Wyoming. The lease was granted
to Jacob Roth by the United States Department of the Interior Bureau of Land Management, effective on February 1, 2017. The lease affords
the lessee the exclusive right to drill for, remove and dispose of oil and gas (except helium) in the leased premises, which includes
the right to build improvements necessary for the drilling operations. Jacob Roth paid a $415 filing fee to acquire the lease, and an
annual rental fee of $360 is charged by the Bureau of Land Management. We do not know whether there is any drilling activity being conducted
on lands in the vicinity of our leasehold.

 On
September 20, 2022, Golden Royal subscribed for two additional oil and gas leaseholds, one in Converse County, Wyoming, and one in Laramie
County, Wyoming, which were approved in February 2023:

 Converse
County, Wyoming Lease 22-00255. This is a five-year oil and gas lease that will extend for an additional five-year term if oil and/or
gas is being produced in profitable quantities. The leasehold is 80 acres of public lands in Converse County, Wyoming. The lease was
granted to Golden Royal by the State of Wyoming Board of Land Commissioners effective on February 2, 2023. The lease affords the lessee
the exclusive right to drill for, remove and dispose of oil and gas (including inert gases, sulfur, and helium) in the leased premises,
which includes the right to build improvements necessary for the drilling operations. Golden Royal paid a $50 filing fee to acquire the
lease, and an annual rental fee of $80 is charged by the State of Wyoming Office of State Lands and Investments. We do not know whether
there is any drilling activity being conducted on lands in the vicinity of our leasehold.

 Laramie
County, Wyoming Lease 22-00256. This is a five-year oil and gas lease that will extend for an additional five-year term if oil and/or
gas is being produced in profitable quantities. The leasehold is 80 acres of public lands in Laramie County, Wyoming. The lease was granted
to Golden Royal by the State of Wyoming Board of Land Commissioners effective on February 2, 2023. The lease affords the lessee the exclusive
right to drill for, remove and dispose of oil and gas (including inert gases, sulfur, and helium) in the leased premises, which includes
the right to build improvements necessary for the drilling operations. Golden Royal paid a $50 filing fee to acquire the lease, and an
annual rental fee of $80 is charged by the State of Wyoming Office of State Lands and Investments. We do not know whether there is any
drilling activity being conducted on lands in the vicinity of our leasehold.

 Precious
Metal Interests

 On
December 6, 2018, Golden Royal and Jacob Roth entered into a second Assignment Agreement, which is identical to the September 27, 2018
Assignment Agreement except for the identity of the lease that is the subject of the agreement. The December 6, 2018 Assignment Agreement
transfers to Golden Royal all of the beneficial interest in the following leasehold:

 Crooks
County, Wyoming Lease 0-43552. This is a ten-year lease granted to Jacob Roth on December 6, 2018 by the State of Wyoming in exchange
for a $50 application fee and payment of a $640 annual license fee. The lease grants to Jacob Roth the right to prospect for, develop,
produce and market such gold, silver and precious metals as may be found in 640 acres of public land located in Crooks County, Wyoming.
We do not know whether there is any mining activity on land in the vicinity of our leasehold.

 During
the year ended September 31, 2022 Golden Royal purchased three additional precious metal leases in Crooks County, Wyoming:

 Crooks
County, Wyoming Lease 0-42778. Golden Royal purchased this ten-year lease from the State of Wyoming on November 8, 2021 in exchange
for a $50 application fee and a commitment to pay $640 per year for five years and $1,280 per year during the next five years. The annual
fee increases during any renewal terms. The lease grants to Golden Royal the right to prospect for, develop, produce and market gold,
silver and precious metals, as well as diamonds, jade and precious stones that may be found in 640 acres of land located in Crooks County.
We do not know whether there is any mining activity on land in the vicinity of our leasehold.

 Crooks
County, Wyoming Lease 0-42776. Golden Royal purchased this ten-year lease from the State of Wyoming on November 9, 2021 in exchange
for a $50 application fee and a commitment to pay $160 per year for five years and $320 per year during the next five years. The annual
fee increases during any renewal terms. The lease grants to Golden Royal the right to prospect for, develop, produce and market gold,
silver and precious metals, as well as diamonds, jade and precious stones that may be found in 160 acres of land located in Crooks County.
We do not know whether there is any mining activity on land in the vicinity of our leasehold.

 Crooks
County, Wyoming Lease 0-43639. Golden Royal purchased this ten-year lease from the State of Wyoming on March 28, 2022 in exchange
for a $50 application fee and a commitment to pay $460 per year for five years and $919 per year during the next five years. The annual
fee increases during any renewal terms. The lease grants to Golden Royal the right to prospect for, develop, produce and market gold,
silver and precious metals, as well as diamonds, jade and precious stones that may be found in 459.55 acres of land located in Crooks
County. We do not know whether there is any mining activity on land in the vicinity of our leasehold.

 Currently,
Golden Royal does not have the resources, personnel or infrastructure necessary to engage in oil and gas drilling or precious metal mining.
Therefore, at the present time, Golden Royal is holding the seven mineral interests described above, and plans to invest in additional
mineral interests as an investment with an eye towards resale. Our purpose in making these investments is to take advantage of increases
in the value of the leaseholds that may occur. Such increases could be caused by higher global energy prices, new technologies that make
exploration and drilling more cost efficient, or the emergence of markets for other resources located in the leased acreage. If any such
circumstances, or any other causal factors, result in an increase in the market value of Golden Royal's leaseholds, we will seek
to negotiate a sale at a profit of the affected leasehold.

 Our
long-term plan is to develop a capability of participating in the development of oil and gas properties as well as of precious metal
properties. We do not anticipate becoming an independent producer of oil, gas or precious metals. But we do plan to seek capital resources
that will enable us to invest in drilling or mining activity carried on by established producers. Our plan is to offer our capital stock
to investors in private or public offerings and obtain approximately $2.5 million in capital contributions. We believe that cash resources
in that amount would enable us to participate as a significant investor in a number of drilling or mining programs sufficient to minimize
the risk that all of our mineral investments will fail.

 Proved
Reserves and Estimated Future Net Revenue

 The
Securities and Exchange Commission defines proved mineral reserves as the estimated quantities of crude oil, natural gas, or precious
metals that geological and engineering data demonstrate with reasonable certainty to be recoverable in future years from known reservoirs
under existing economic and operating conditions, i.e. prices and costs as of the date the estimate is made. Prices include consideration
of changes in existing prices provided only by contractual arrangements, but not on escalations based upon future conditions.

 The
process of estimating mineral reserves is complex and requires significant judgment. Our policies regarding booking reserves require
proved reserves to be in compliance with the SEC definitions and guidance. Since none of our mineral properties is currently in production,
we currently have no proved reserves.

 Title
to Properties

 Title
to mineral properties is subject to contractual arrangements customary in the oil and gas industry or the precious metals industry, as
applicable, liens for current taxes not yet due and, in some instances, other encumbrances. We believe that such burdens do not materially
detract from the value of our properties or from the respective interests therein or materially interfere with their use in the operation
of our business.

 As
is customary in the minerals extraction industries, other than a preliminary review of local records, little investigation of record
title is made at the time of acquisitions of undeveloped properties. Investigations, which generally include a title opinion of outside
counsel, are made prior to the consummation of an acquisition of producing properties and before commencement of drilling operations
on undeveloped properties.

 Competition

 The
market for mineral leases was substantially changed by the policies of the Trump Administration, and is now undergoing a reversal of
many of those changes as a result of policies of the Biden administration. During the Trump Administration, the Department of the Interior
dramatically increased the number of acres of public land that it made available for mineral leasing: during the 2018 fiscal year, for
example, three times as much land was offered in auction as during the average of fiscal 2013 through fiscal 2016. Further, Interior
Department regulations provide that if a parcel of mineral rights pass through auction without attracting a bid, then during the following
two years anyone could purchase the rights with an upfront fee of $1.50 per acre. The combination of an increase in available land with
the opportunity for purchase at negligible prices caused a marked reduction in the average price of mineral leases. In Montana, for example,
the average lease price for oil and gas properties in 2018 was 20% of the average price in 2016.

 The
marked reduction in the price of mineral leases drew many more participants into the market, particularly speculative investors similar
to Golden Royal. Many market participants speculated that the widespread protests against the post-auction "giveaways" would
result in changes to regulations, which would lead to an increase in average lease prices. This activity created demand that, to some
extent, offset the effect on lease prices of current Interior Department policies.

 The
Biden Administration has undertaken a reversal of the policies of the Trump Administration. In November 2021 the Department of the Interior
published proposals to reduce the amount of land made available for extraction activities and to increase the fees charged for such activities.
Then on April 15, 2022 the Department of the Interior published sales notices indicating an 80% reduction in the acreage being made available
for leasing and a significant increase in the royalty rate payable to the government.

 Implementation
of Biden Administration policies is reducing the amount of land available for mineral extraction, and increasing the cost of such land.
The State of Wyoming remains aggressive in its efforts to market mineral leases, but its efforts only partially offset the effect of
federal policy, as the U.S. Bureau of Land Management holds the dominant position in mineral leasing in Wyoming. The competition that
we will face in the coming years, therefore, will depend in large part on the competing policies of the U.S. Interior Department and
the State of Wyoming.

 Governmental
Regulations, Approval, Compliance

 If
we elect to participate directly in development of oil and gas properties, our operations are or will be subject to various types of
regulation at the federal, state and local levels. Such regulations includes requiring permits for the drilling of wells; maintaining
bonding requirements in order to drill or operate wells; implementing spill prevention plans; submitting notification and receiving permits
relating to the presence, use and release of certain materials incidental to oil and gas operations; and regulating the location of wells,
the method of drilling and casing wells, the use, transportation, storage and disposal of fluids and materials used in connection with
drilling and production activities, surface usage and the restoration of properties upon which wells have been drilled, the plugging
and abandoning of wells and the transporting of production. Our operations are or will be also subject to various conservation matters,
including the regulation of the size of drilling and spacing units or pro-ration units, the number of wells which may be drilled in a
unit, and the unitization or pooling of oil and gas properties. In this regard, some states allow the forced pooling or integration of
tracts to facilitate exploration while other states rely on voluntary pooling of lands and leases, which may make it more difficult to
develop oil and gas properties. In addition, state conservation laws establish maximum rates of production from oil and gas wells, generally
limit the venting or flaring of gas, and impose certain requirements regarding the ratable purchase of production. The effect of these
regulations is to limit the amounts of oil and gas we may be able to produce from our wells and to limit the number of wells or the locations
at which we may be able to drill.

 If
we elect to participate directly in mining the acreage on which we hold precious metal rights, we will primarily be restricted by federal
and state environmental regulations, which significantly restrict the methods that can be employed in extracting precious metals, and
require remediation of damage done to the environments in which we may mine. Such regulations will increase the cost of mining significantly,
and accordingly reduce the profitability of our mining and, most significantly, our ability to attract investors to participate in any
such mining activities.

 Failure
to comply with any laws and regulations may result in the assessment of administrative, civil and criminal penalties, the imposition
of injunctive relief or both. Moreover, changes in any of these laws and regulations could have a material adverse effect on business.
In view of the many uncertainties with respect to current and future laws and regulations, including their applicability to us, we cannot
predict the overall effect of such laws and regulations on our future operations.

 We
believe that our operations comply in all material respects with applicable laws and regulations and that the existence and enforcement
of such laws and regulations have no more restrictive an effect on our operations than on other similar companies in the energy industry.
We do not anticipate any material capital expenditures to comply with federal and state environmental requirements.

 Environmental

 Operations
on properties in which we have an interest are subject to extensive federal, state and local environmental laws that regulate the discharge
or disposal of materials or substances into the environment and otherwise are intended to protect the environment. Numerous governmental
agencies issue rules and regulations to implement and enforce such laws, which are often difficult and costly to comply with and which
carry substantial administrative, civil and criminal penalties and in some cases injunctive relief for failure to comply.

 Some
laws, rules and regulations relating to the protection of the environment may, in certain circumstances, impose "strict liability"
for environmental contamination. These laws render a person or company liable for environmental and natural resource damages, cleanup
costs and, in the case of oil spills in certain states, consequential damages without regard to negligence or fault. Other laws, rules
and regulations may require the rate of oil and gas production to be below the economically optimal rate or may even prohibit exploration
or production activities in environmentally sensitive areas. In addition, state laws often require some form of remedial action, such
as closure of inactive pits and plugging of abandoned wells, to prevent pollution from former or suspended operations.

 Legislation
has been proposed in the past and continues to be evaluated in Congress from time to time that would reclassify certain oil and gas exploration
and production wastes and/or certain mining waste as "hazardous wastes." This reclassification would make these wastes subject
to much more stringent storage, treatment, disposal and clean-up requirements, which could have a significant adverse impact on operating
costs. Initiatives to further regulate the disposal of oil and gas wastes and mining wastes are also proposed in certain states from
time to time and may include initiatives at the county, municipal and local government levels. These various initiatives could have a
similar adverse impact on operating costs.

 The
regulatory burden of environmental laws and regulations increases our cost and risk of doing business and consequently affects our profitability.
The federal Comprehensive Environmental Response, Compensation and Liability Act, or CERCLA, also known as the "Superfund"
law, imposes liability, without regard to fault, on certain classes of persons with respect to the release of a "hazardous substance"
into the environment. These persons include the current or prior owner or operator of the disposal site or sites where the release occurred
and companies that transported, disposed or arranged for the transport or disposal of the hazardous substances found at the site. Persons
who are or were responsible for releases of hazardous substances under CERCLA may be subject to joint and several liability for the costs
of cleaning up the hazardous substances that have been released into the environment and for damages to natural resources, and it is
not uncommon for the federal or state government to pursue such claims.

 It
is also not uncommon for neighboring landowners and other third parties to file claims for personal injury or property or natural resource
damages allegedly caused by the hazardous substances released into the environment. Under CERCLA, certain oil and gas materials and products
are, by definition, excluded from the term "hazardous substances." A number of federal courts have held that certain wastes
associated with the production of crude oil may be classified as hazardous substances under CERCLA. Although, under the federal Resource,
Conservation and Recovery Act, or RCRA, which governs the generation, treatment, storage and disposal of "solid wastes" and
"hazardous wastes," certain oil and gas materials and wastes are exempt from the definition of "hazardous wastes,"
this exemption continues to be subject to judicial interpretation and increasingly stringent state interpretation. During the normal
course of operations on properties in which we have an interest, exempt and non-exempt wastes, including hazardous wastes, that are subject
to RCRA and comparable state statutes and implementing regulations may be generated.

 We
will rely on the operator of the properties in which we have an interest to be in substantial compliance with applicable laws, rules
and regulations relating to the control of emissions at all facilities on those properties. The occurrence of a significant event not
fully insured or indemnified against could have a material adverse effect on our financial condition and operations. If we undertake
drilling or mining operations, compliance with environmental requirements, including financial assurance requirements and the costs associated
with the cleanup of any spill, could have a material adverse effect on our capital expenditures, earnings or competitive position.

 Employees

 It
is anticipated that the only active employee of this business in the near future will be Jacob Roth, its President. All operative functions,
such as acquiring or disposing of energy investments, will be handled by the President or independent contractors and consultants.

 Item
 1A.

 Risk
 Factors

 Investing
in our common stock will involve risk. You should carefully consider the risks described below together with the other information contained
in this Report, including the financial statements and the related notes, before deciding whether to purchase any shares of our common
stock. If any of the following risks is realized, our business, financial condition or operating results could materially suffer. In
that event, the trading price of our common stock could decline and you may lose all or part of your investment.

 I.
RISKS ASSOCIATED WITH BUSINESS OF COMPANY

 Our
auditor has indicated that there is a substantial doubt as to whether we will be able to continue as a going concern.

 In
its report on our financial statements for the years ended September 30, 2023 and 2022, our independent registered public accounting
firm has stated that the fact that Golden Royal has not generated any revenues and does not have positive cash flow from operations raises
substantial doubt as to our ability to continue as a going concern. A "going concern" opinion is an indication that the auditor's
review of the company's resources and business activities raised doubt as to whether the company will be able to realize its assets
and discharge its liabilities in the ordinary course of business. The risk of investing in a company whose financial statements carry
a going concern opinion is that you are likely to lose all of your investment if the company fails to continue as a going concern. In
the case of Golden Royal, the fact that we have minimal assets and no source of revenue means that we will continue as a going concern
only if we are able to obtain the funds necessary to implement our business plan and are successful in that implementation. If we are
not able to convert our business into a going concern, investors in Golden Royal will lose their investment.

 We
may be unable to sustain operations and we will certainly not be able to acquire mineral rights and expand operations until we raise
significant funds.

 Our
company at this time has a working capital deficit. We are currently sustaining operations by relying on capital contributions and advances
from Jacob Roth, our Chief Executive Officer. In order for Golden Royal to develop, we must find alternative financing sources; otherwise,
we will not be able to continue the development of our business. In addition, in order to achieve the second level of our business plan,
in which we participate in drilling operations, it will be necessary that we obtain approximately 2.5 million dollars of capital. Since
we have no assets to pledge against debt, it is likely that any capital we obtain will be the proceeds from a sale of equity or equity-related
debt. If we cannot persuade investors to purchase a sufficient amount of our equity, we will not be able to do more than make occasional
purchases of low-priced, high-risk mineral rights.

 We
may be required to raise additional financing by issuing new securities with terms or rights superior to those of our shares of common
stock, which could adversely affect the market price of our shares of common stock.

 We
will require approximately $2.5 million in financing to fund the full implementation of our business plan. We may not be able to obtain
financing on favorable terms, if at all. If we raise funds by issuing equity securities, the percentage ownership of our current shareholders
will be reduced, and the holders of the new equity securities may have rights superior to those of the holders of shares of common stock,
which could adversely affect the market price and the voting power of shares of our common stock. If we raise additional funds by issuing
debt securities, the holders of these debt securities would similarly have some rights senior to those of the holders of shares of common
stock, and the terms of these debt securities could impose restrictions on operations and create a significant interest expense for us.

 The
administrative costs of public company regulatory compliance could become burdensome and consume a significant amount of the Company's
cash resources, which could materially and adversely affect its business.

Royal will incur significant costs and expenses in connection with assuring compliance with all laws, rules and regulations applicable
to it as a public company. The Company anticipates that its ongoing costs and expenses of complying with our public reporting company
obligations will be approximately $40,000 annually. The Company's compliance costs and expenses could increase substantially if
it applies for trading of its securities on a national stock exchange which may have listing requirements that engender additional administration
and compliance costs. The Company will assign a high priority to establishing and maintaining controls, procedures, corporate compliance
and public company reporting; however, there can be no assurance that the Company will have sufficient cash resources available to satisfy
its public company reporting and compliance obligations. If the Company is unable to cover the cost of proper administration of its public
company compliance and reporting obligations, the Company could become subject to sanctions, fines and penalties, its stock could be
barred from trading in public capital markets, and it may cease doing business.

 The
mineral exploration and mining industry is highly competitive and there is no assurance that the company will be successful.

 The
mineral exploration and mining industry is intensely competitive, and the Company competes with other companies that have greater resources.
Many of these companies not only explore for and produce minerals but also market minerals and other products on a regional, national
or worldwide basis. These companies will be able to pay more for productive mineral properties and exploratory prospects or define, evaluate,
bid for and purchase a greater number of properties and prospects than Golden Royal's financial or human resources permit. In addition,
these companies will have a greater ability to continue exploration activities during periods of low mineral market prices. The Company's
larger competitors may be able to absorb the burden of present and future foreign, federal, state, local and other laws and regulations
more easily than Golden Royal can, which would adversely affect our competitive position. The Company's ability to acquire additional
properties and to discover productive prospects in the future will be dependent upon its ability to evaluate and select suitable properties
and to consummate transactions in a highly competitive environment. In addition, because Golden Royal has fewer financial and human resources
than many companies in its industry, the Company may be at a disadvantage in bidding for exploratory prospects and producing mineral
properties.

 Any
change in government regulation/administrative practices may have a negative impact on Golden Royal's ability to operate and its
profitability.

 The
laws, regulations, policies or current administrative practices of any government body, organization or regulatory agency in any applicable
jurisdiction, may be changed, applied or interpreted in a manner which will fundamentally alter Golden Royal's ability to carry
on business. The actions, policies or regulations, or changes thereto, of any government body or regulatory agency, or other special
interest groups, may have a detrimental effect on the Company. In particular, any change in the current policies of the U.S. Department
of the Interior regarding leasing of mineral interests in public lands could cause a significant alteration in the potential profitability
of our investment strategy. Any or all of these situations may have a negative impact on the Company's ability to operate and/or
its profitably.

Royal has limited mineral property assets or interests and cannot guarantee that it will identify or acquire any additional viable mineral
property assets or interests.

Royal presently has only 2,300 acres of mineral property assets, none of which are in development. The Company is currently seeking to
identify mineral properties to acquire but the Company cannot guarantee it will find any valuable mineral properties. Accordingly, the
Company has no means of producing any income at this time. Even if the Company acquires a mineral property interest on land that becomes
developed by a mining company, the Company cannot guarantee that it will be able to capitalize on the increased value of its leasehold.

 If
the Company cannot acquire any viable mineral property assets or mineral property interests, or cannot find any minerals on such mineral
properties, or it is not economical to recover the minerals from those mineral properties, the Company will have to cease operations.

 The
Company does not have sufficient funds to operate profitably as an investor in mineral properties.

Royal will need to obtain additional financing in order to invest in drilling or mining operations, which will be necessary for the Company
to attain profitability. The Company currently does not have any operations and has generated no revenue from mining operations. A proposed
mineral exploration program will call for significant expenses in connection with the exploration of the respective mineral property.
We estimate that the Company will need to raise additional capital of approximately $2,500,000 to enable it to participate in drilling
or mining operations. Obtaining additional financing would be subject to a number of factors, including the market prices for minerals,
investor acceptance of the Company's mineral claims, and investor sentiment. These factors may make the timing, amount, terms or
conditions of additional financing unavailable to the Company. The most likely source of future funds presently available to the Company
is through the sale of equity capital. Any sale of share capital will result in dilution to existing stockholders. The only other anticipated
alternatives for the financing of a proposed mineral exploration program would be (1) the offering by the Company of an interest in a
mineral property to be earned by another party or parties carrying out further exploration thereof, which is not presently contemplated,
or (2) private loans.

 Our
success is dependent on the continued employment of Jacob Roth, our President and Chairman of the Board.

 The
success of Golden Royal depends to a large degree upon the personal efforts and ability of Mr. Roth, the loss of whose services, whether
through disability, illness, death or severance of employment, would have a materially adverse effect on the Company.

 The
Company's principal officer and director may be subject to conflicts of interest.

 Jacob
Roth, the Company's principal officer and director, will devote to the Company's affairs such time as he deems necessary
to accomplish the Company's business plan. However, Mr. Roth may also devote part of his working time to other business endeavors,
including consulting relationships with other entities, and may have responsibilities to these other entities which would result in conflicts
of interest. Such conflicts include deciding how much time to devote to the Company's affairs, as well as what business opportunities
should be presented to the Company. Because of these relationships, Mr. Roth could be subject to conflicts of interest. Currently, Golden
Royal has no policy in place to address such conflicts of interest.

 II.
RISKS RELATED TO OUR COMMON STOCK

 Out
Chief Executive Officer owns a majority of the outstanding common stock, which enables him to exercise complete control over all corporate
matters.

 Jacob
Roth, our Chief Executive Officer, owns over 95% of our outstanding common stock and, by reason of his ownership of Series A Preferred
Stock, controls over 97% of the voting power in the Company. As a result, Mr. Roth can exercise control over our management and affairs
and over matters requiring stockholder approval, including the election of directors and approval of significant corporate transactions.
Because Delaware law permits shareholders to act by written consent in lieu of holding a meeting of shareholders, the affairs of the
Company may be carried on without need for any meeting of the shareholders. This situation may prevent the minority shareholders from
participating in any way in the management of the Company. In addition, this concentration of ownership may delay or prevent a change
in control of us and might affect the market price of our common stock, even when a change in control may be in the best interest of
all stockholders. Furthermore, the interests of this concentration of ownership may not always coincide with the best interest of the
Company or the interests of other stockholders.

 The
Company is not likely to hold annual shareholder meetings in the next few years.

 Management
does not expect to hold annual meetings of shareholders in the next few years, due to the expense involved. The current members of the
Board of Directors were appointed to that position by the previous directors. If other directors are added to the Board in the future,
it is likely that the current directors will appoint them. As a result, the shareholders of the Company will have no effective means
of exercising control over the operations of the Company.

 Delaware
law and our articles of incorporation may protect the company's directors from certain types of lawsuits.

 Delaware
law provides that the Company's officers and directors will not be liable to the Company or its stockholders for monetary damages
for all but certain types of conduct as officers and directors. Golden Royal's Certificate of Incorporation requires the Company
to indemnify officers and directors of the Company against all damages incurred in connection with the Company's business to the
fullest extent provided or allowed by law. The exculpation provisions may have the effect of preventing stockholders from recovering
damages against the Company's officers and directors caused by their negligence, poor judgment or other circumstances. The indemnification
provisions may require us to use the Company's limited assets to defend its officers and directors against claims, including claims
arising out of their negligence, poor judgment, or other circumstances.

 Failure
to maintain effective internal controls in accordance with section 404 of the Sarbanes-Oxley Act would lead to loss of investor confidence
in the Company's reported financial information.

 Pursuant
to regulations related to Section 404 of the Sarbanes-Oxley Act of 2002, on a quarterly basis the Company will be required to furnish
a report by its management on the Company's internal control over financial reporting. If the Company cannot provide reliable financial
reports or prevent fraud, then its business and operating results could be harmed, investors could lose confidence in the Company's
reported financial information, and the trading price of the Company's stock could drop significantly.

 To
maintain compliance with Section 404 of the Act, the Company will engage in a process to document and evaluate its internal control over
financial reporting, which is both costly and challenging and will require management to dedicate scarce internal resources and to retain
outside consultants.

 During
the course of the Company's testing, management may identify deficiencies which the Company may not be able to remediate in time
for securities disclosure reporting deadlines. In addition, if the Company fails to maintain the adequacy of its internal controls, as
such standards are modified, supplemented or amended from time to time, the Company may not be able to ensure that it can conclude on
an ongoing basis that the Company has effective internal controls over financial reporting in accordance with Section 404 of the Sarbanes-Oxley
Act. Moreover, effective internal controls, particularly those related to revenue recognition, are necessary for the Company to produce
reliable financial reports and are important to helping prevent financial fraud.

 Trading
in the Company's common stock may be inadequate to provide liquidity for our shareholders.

 Our
common stock became listed on the OTC Pink Market during 2023. Nevertheless, the small number of holders of our common stock means that
for some indefinite period of time the trading volume in our common stock will be very low. For that reason, for some period of the future,
our shareholders may find it difficult or impossible to sell their shares when they wish and for prices they consider reasonable.

 An
active market will not develop unless broker-dealers develop interest in trading the Company's shares, and the Company may be unable
to generate interest in its shares among broker-dealers until the Company generates meaningful revenues and profits from operations.
Until that time occurs, if it does at all, purchasers of the Company's shares may be unable to sell them publicly. In the absence
of an active trading market:

 Investors
 may have difficulty buying and selling the Company's shares or obtaining market quotations;

 Market
 visibility for the Company's common stock may be limited; and

 A
 lack of visibility for the Company's common stock may depress the market price for its shares.

 Moreover,
the market price for the Company's shares is likely to be highly volatile and subject to wide fluctuations in response to various
factors, including the following: (i) actual or anticipated fluctuations in the Company's quarterly operating results and revisions
to its expected results; (ii) changes in financial estimates by securities research analysts; (iii) conditions in the market for the
Company's products; (iv) changes in the economic performance or market valuations of companies specializing in the mining industries;
(v) announcements by the Company or its competitors of new industry mining techniques, strategic relationships, joint ventures or capital
commitments; (vi) addition or departure of key personnel; (vii) litigation related to any intellectual property; and (viii) sales or
perceived potential sales of the Company's shares.

 The
Company's common stock is considered to be "penny stock."

 The
Company's common stock will be considered to be a "penny stock" for the foreseeable future because it will meet one
or more of the definitions in Rules 15g-2 through 15g-6 promulgated under Section 15(g) of the Securities Exchange Act of 1934, as amended.
These include but are not limited to, the following: (i) the stock trades at a price less than $5.00 per share; (ii) it is not traded
on a "recognized" national exchange; (iii) it is not quoted on The NASDAQ Stock Market, or even if quoted, has a price less
than $5.00 per share; or (iv) is issued by a company with net tangible assets less than $2.0 million, if in business more than a continuous
three years, or with average revenues of less than $6.0 million for the past three years. The principal result or effect of being designated
a "penny stock" is that securities broker-dealers cannot recommend the stock but must trade it on an unsolicited basis.

 The
SEC has adopted rules that regulate broker-dealer practices in connection with transactions in "penny stocks." Penny stocks
generally are equity securities with a price of less than $5.00 (other than securities registered on certain national securities exchanges
or quoted on the NASDAQ system, provided that current price and volume information with respect to transactions in such securities is
provided by the exchange or system). Penny stock rules require a broker-dealer, prior to a transaction in a penny stock not otherwise
exempt from those rules, to deliver a standardized risk disclosure document prepared by the SEC, which specifies information about penny
stocks and the nature and significance of risks of the penny stock market. A broker-dealer must also provide the customer with bid and
offer quotations for the penny stock, the compensation of the broker-dealer, and sales person in the transaction, and monthly account
statements indicating the market value of each penny stock held in the customer's account. In addition, the penny stock rules require
that, prior to a transaction in a penny stock not otherwise exempt from those rules, the broker-dealer must make a special written determination
that the penny stock is a suitable investment for the purchaser and receive the purchaser's written agreement to the transaction.
These disclosure requirements may have the effect of reducing the trading activity in the secondary market for stock that becomes subject
to those penny stock rules. Therefore, since our common stock will be subject to the penny stock rules for the foreseeable future, shareholders
may have difficulty in selling their shares and could lose all of their investment.

 The
Company has not paid any cash dividends in the past and will not pay any cash dividends in the foreseeable future

Royal has not paid any cash dividends on its common stock. The Company generally intends to retain future earnings, if any, for reinvestment
in the development and expansion of its business. Dividend payments in the future may also be limited by other loan agreements or covenants
contained in other securities which the Company may issue. Any future determination to pay cash dividends will be at the discretion of
the Company's board of directors and depend on its financial condition, results of operations, capital and legal requirements and
such other factors as the board of directors deems relevant.

 Item
 1B.

 Unresolved
 Staff Comments

 Not
Applicable.

 Item
 2.

 Properties

 The
Company's only physical property is its executive office, which is located at 543 Beford Avenue, Suite 176, New York, New
York. Those premises are provided to the Company at no cost by the Company's CEO. Prior to November 1, 2023, the
Company's executive office was located at 80 Main Street, Suite 415 in West Orange, New Jersey. The Company leased those
premises at no cost from a personal friend of the Company's CEO.

 Item
 3.

 Legal
 Proceedings

 None.

 Item
 4.

 Mine
 Safety Disclosures.

 Not
Applicable.

 PART
II

 Item
 5.

 Market
 For Registrant's Common Equity, Related Stockholder Matters And Issuer Purchases Of Equity Securities.

 (a)
Market Information

 The
Company's common stock is listed for quotation on the OTC Pink Market under the symbol "GRDV". The quotations reported
on the OTC Pink Market reflect inter-dealer prices without retail markup, markdown or commissions, and may not necessarily represent
actual transactions.

 The
Company's common stock is thinly traded. The quoted bid and asked prices for the Common Stock vary significantly from week to week.
An investor holding shares of the Company's Common Stock may find it difficult to sell the shares and may find it impossible to
sell more than a small number of shares at the quoted bid price.

 (b)
Shareholders

 Our
shareholders list contains the names of 38 stockholders of record of the Company's Common Stock

 (c)
Dividends

 The
Company has not, within the past decade, paid or declared any cash dividends on its Common Stock and does not foresee doing so in the
foreseeable future. The Company intends to retain any future earnings for the operation and expansion of the business. Any decision as
to future payment of dividends will depend on the available earnings, the capital requirements of the Company, its general financial
condition and other factors deemed pertinent by the Board of Directors.

 (d)
Securities Authorized for Issuance Under Equity Compensation Plans

 The
Company had no securities authorized for issuance under equity compensation plans as of September 30, 2023.

 (e)
Sale of Unregistered Securities

 The
Company did not issue any unregistered equity securities during the 4 th quarter of fiscal year 2023.

 (f)
Repurchase of Equity Securities

 The
Company did not repurchase any shares of its common stock during the 4 th quarter of fiscal year 2023.

 Item
 6.

 Selected
 Financial Data

 Not
applicable.

 Item
 7.

 Management's
 Discussion and Analysis

 Results
of Operations

Royal was organized in November 2016, but did not commence operations until September 2018, when it acquired equity in certain oil and
gas properties in Fremont County and Converse County, Wyoming (the Converse County interest has since expired). Then in December 2018
Golden Royal acquired ownership of precious metal rights in a parcel of land in Crooks County, Wyoming. All of these properties were
acquired from Jacob Roth, who owns over 95% of Golden Royal's outstanding shares. Subsequent to September 30, 2021, Golden Royal
acquired mineral rights in five additional properties.

 There
are no mining operations taking place on any of the seven properties; accordingly, we recorded no revenue for either the year ended September
30, 2023 or the year ended September 30, 2022. We do not expect to record revenue unless (a) we resell one of our properties, or (b)
we acquire sufficient cash resources to permit us to participate in a drilling or mining project that yields revenue.

 The
operating expenses that we incurred - $60,308 during the year ended September 30, 2023 and $63,340 during the year ended September 30,
2022 - were attributable to the costs of sustaining Golden Royal's administrative operations. The greater portion of the operating
expenses consist of fees payable for accounting and legal services related to preparation of our quarterly filings with the Securities
and Exchange Commission. We also incurred significant general and administrative expenses related to our efforts to secure FINRA approval
of trading in our common stock. Lastly, in our operating expenses we recorded impairment expense of $2,520 and $2,410 during the years
ended September 30, 2023 and 2022, respectively, as a result of the Company incurring capitalizable costs for the acquisition of mining
rights and fully impairing those rights as there was insufficient evidence to support a likelihood that the assets would generate future
cash flows.

 Since
we recorded no revenue, by reason of its operating expenses, Golden Royal incurred a net loss of $60,308 in the year ended September
30, 2023 and a net loss of $63,340 in the year ended September 30, 2022. We will continue to incur net losses until we initiate revenue-producing
operations.

 Liquidity
and Capital Resources

 Our
operations used $34,464 in cash during the year ended September 30, 2023, and $29,913 in cash during the year ended September 30, 2022.
Our use of cash during the 2023 and 2022 fiscal years was less than our net loss primarily because we increased our accounts payable
in both years.

 In
both years, the cash used in operations was provided primarily by advances from Jacob Roth, our Chief Executive Officer.

 At
September 30, 2023, we had a working capital deficit of $257,974, an increase of $60,308 from our working capital deficit of $197,666
as of September 30, 2022.

 In
order for us to initiate participation in mineral exploration projects, we estimate that we will require approximately $2.5 million in
capital. We plan to obtain that capital by issuing equity securities, either capital stock or convertible debt. To date, however, we
have received no commitments for funds. Accordingly, the opinion of our independent registered public accounting firm with respect to
our fiscal 2023 and 2022 financial statements states that there is substantial doubt about the Company's ability to continue as
a going concern. That doubt will be alleviated only when we obtain the funds necessary to initiate profitable operations.

 Critical
Accounting Policies

 The
preparation of our financial statements in conformity with accounting principles generally accepted in the United States requires us
to make estimates and judgments that affect our reported assets, liabilities, revenues, and expenses, and the disclosure of contingent
assets and liabilities. We base our estimates and judgments on historical experience and on various other assumptions we believe to be
reasonable under the circumstances. Future events, however, may differ markedly from our current expectations and assumptions. While
there are several significant accounting policies affecting our consolidated financial statements; we don't believe that we have
any critical accounting policies that involve complex, difficult, and subjective estimates and judgments.

 Item
 7a

 Quantitative
 And Qualitative Disclosures About Market Risk.

 Not
Applicable.

 Item
 8.

 Financial
 Statements

TO FINANCIAL STATEMENTS

 Page

 Report of Independent Registered Public Accounting Firm. (PCAOB ID No. 6258)

 Balance Sheets as of September 30, 2023 and 2022.

 Statements of Operations for the Years Ended September 30, 2023 and 2022.

 Statement of Stockholders' Deficit for the Years Ended September 30, 2023 and 2022.

 Statements of Cash Flows for the Years Ended September 30, 2023 and 2022.

 to F-12

 Notes to Financial Statements for the Years Ended September 30, 2023 and 2022.

 REPORT
OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

 Board
of Directors and Shareholders

 Opinion
on the Financial Statements

 We
have audited the accompanying balance sheets of Golden Royal Development Inc. as of September 30, 2023 and 2022, and the related statement
of operations, stockholders' deficit and cash flows for each of the two years in the period ended September 30, 2023, 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 Golden Royal Development Inc. as of September 30, 2023 and 2022, and the results
of its operations and its cash flows for each of the two years in the period ended September 30, 2023, 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 entity will continue as a going concern. As discussed in Note
5 to the financial statements, the Company has suffered recurring losses from operations and has a net capital deficiency that raise
substantial doubt about its ability to continue as a going concern. Management's plans in regard to these matters are also described
in Note 5. 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 entity's management. Our responsibility is to express an opinion on these financial
statements based on our audits. 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 Golden Royal Development Inc. 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 audits 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. Golden
Royal Development Inc. is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting.
As part of our audits 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 entity's internal control over financial reporting. Accordingly, we express
no such opinion.

 Our
audits 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 audits 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 audits
provide 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 are no critical audit matters.

 /s/
 Mac Accounting Group & CPAs, LLP

 We
have served as Golden Royal Development Inc.'s auditor since 2022.

 Midvale,
Utah

 March
4, 2024

 F- 1

 Balance
Sheets

 30, 2023

 30, 2022

 ASSETS

 Current Assets

 Cash

 $

 $
 -

 Prepaid
 expense

 -

 -

 Total Assets

 $

 $
 -

 LIABILITIES
 AND STOCKHOLDERS' DEFICIT

 Current Liabilities

 Accounts payable

 $
 113,528

 $
 87,984

 Accounts payable- related
 party

 5,000

 4,700

 Accounts payable

 Due
 to officer - related party

 139,636

 104,734

 Total Liabilities

 258,164

 197,666

 Commitments and Contingencies
 (Note 6)

 -

 -

 Stockholders' Deficit

 Preferred stock, $ 0.00001 par value; 5,000,000
 shares authorized

 -

 -

 Series A Preferred stock,
 $ 0.00001 par value; 1,000 shares designated, 1,000 and 1,000, issued and outstanding, respectively

 Preferred
 stock, value

 -

 -

 Common stock, $ 0.00001 par value; 500,000,000
 shares authorized, 7,841,550 and 7,841,550 issued and outstanding, respectively

 Additional paid-in capital

 Accumulated
 deficit

 ( 288,275
)

 ( 227,967
)

 Total
 Stockholders' Deficit

 ( 257,974
)

 ( 197,666
)

 Total
 Liabilities and Stockholders' Deficit

 $

 $
 -

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

 F- 2

 Statements
of Operations

 Year Ended

 Year Ended

 30, 2023

 30, 2022

 Revenue

 $
 -

 $
 -

 Operating Expenses

 Professional fees

 45,416

 41,420

 General and administrative

 14,892

 21,920

 Total
 Operating Expenses

 60,308

 63,340

 Loss from Operations

)

)

 Other Expenses

 Interest Expense

 -

 -

 LOSS FROM OPERATIONS BEFORE
 INCOME TAXES

)

)

 Provision
 for Income Taxes

 -

 -

 NET
 LOSS

 $
)

 $
)

 Net
 Loss Per Share - Basic and Diluted

 $
 ( 0.01
)

 $
 ( 0.01
)

 Weighted average number
 of shares outstanding during the period - Basic and Diluted

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

 F- 3

 Statement
of Stockholders' Deficit

 For
the years ended September 30, 2023 and 2022

 capital

 Deficit

 Deficit

 Series
 A -

 Additional

 Total

 Preferred Stock

 Preferred Stock

 Common stock

 paid-in

 Accumulated

 Stockholders'

 capital

 Deficit

 Deficit

 Balance, September 30, 2021

 -

 $
 -

 1,000

 $

 $

 $

 $
 ( 164,627
)

 $
 ( 134,326
)

 Net loss for the year
 ended September 30, 2022

 -

 -

 -

 -

 -

 -

 -

)

)

 Balance, September 30, 2022

 -

 -

 1,000

 ( 227,967
)

 ( 197,666
)

 Balance

 -

 -

 1,000

 ( 227,967
)

 ( 197,666
)

 Net loss for the year
 ended September 30, 2023

 -

 -

 -

 -

 -

 -

 -

)

)

 Balance, September 30, 2023

 -

 $
 -

 1,000

 $

 $

 $

 $
 ( 288,275
)

 $
 ( 257,974
)

 Balance

 -

 $
 -

 1,000

 $

 $

 $

 $
 ( 288,275
)

 $
 ( 257,974
)

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

 F- 4

 Statements
of Cash Flows

 Year
 Ended

 Year
 Ended

 30, 2023

 30, 2022

 Cash Flows From Operating
 Activities:

 Net Loss

 $
)

 $
)

 Adjustments to reconcile
 net loss to net cash used in operations

 In-kind contribution of
 services and interest

 -

 -

 Changes in operating assets
 and liabilities:

 Increase in accounts payable
 - related party

 1,200

 Increase
 in accounts payable and accrued expenses

 25,544

 32,227

 Net
 Cash Used In Operating Activities

 ( 34,464
)

 ( 29,913
)

 Cash Flows From Financing
 Activities:

 Proceeds from officer advances

 48,393

 30,909

 Repayments of officer advances

 ( 13,491
)

 ( 1,341
)

 Cash overdraft

 ( 248
)

 Net
 Cash Provided by Financing Activities

 34,654

 29,816

 Net (Decrease) Increase
 in Cash

 ( 97
)

 Cash at Beginning of
 the Year

 -

 Cash
 at End of the Year

 $

 $
 -

 Supplemental
 disclosure of cash flow information:

 Cash paid for interest

 $
 -

 $
 -

 Cash paid for taxes

 $
 -

 $
 -

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

 F- 5

 GOLDEN
ROYAL DEVELOPMENT INC.

 NOTES
TO FINANCIAL STATEMENTS

 FOR
THE YEARS ENDED SEPTEMBER 30, 2023 AND 2022

 NOTE
1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND ORGANIZATION

 (A)
 Organization

Royal Development Inc. (the "Company") was incorporated under the laws of the State of Delaware on November 13, 2016.

 The
Company's accounting year end is September 30.

 The
Company is a business that is designed to engage in mineral exploration activities. The Company's activities since inception have
consisted of identifying and acquiring oil, gas, and mining properties. The Company is also in the process of raising additional equity
capital to support its development activities to acquire additional mining properties as soon as possible. The Company's activities
are subject to significant risks and uncertainties, including failing to secure additional funding to operationalize the Company's
current plan to identify and acquire the mining properties. To date, the Company has not generated any revenues from its oil, gas, and
mining properties.

 (B)
 Use of Estimates

 In
preparing financial statements in conformity with generally accepted accounting principles, management is required to make estimates
and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at
the date of the financial statements and revenues and expenses during the reported period. Actual results could differ from those estimates.

 (C)
 Cash and Cash Equivalents

 The
Company considers all highly liquid temporary cash investments with an original maturity of three months or less to be cash equivalents.
At September 30, 2023, and September 30, 2022, the Company had no cash equivalents.

 (D)
 Loss Per Share

 Basic
and diluted net loss per common share is computed based upon the weighted average common shares outstanding as defined by FASB ASC No.
260, "Earnings Per Share." Diluted loss per share is computed by dividing net loss by the weighted average number of shares
of common stock, common stock equivalents, and potentially dilutive securities outstanding during the period. At September 30, 2023,
and 2022, the Company did no t have any outstanding dilutive securities.

 (E)
 Income Taxes

 The
Company accounts for income taxes under FASB Codification Topic 740-10-25 ("ASC 740-10-25"). Under ASC 740-10-25, deferred
tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement
carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets 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. Under ASC 740-10-25, 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.

 F- 6

 The
Company's income tax expense differed from the statutory rates (federal 21 % and state 6.5 %) as follows:

 SCHEDULE OF INCOME TAX EXPENSES

 September 30, 2023

 September 30, 2022

 Expected tax expense (benefit) - Federal

 $
 ( 11,841
)

 $
 ( 12,437
)

 Expected tax expense (benefit) - State

 ( 3,920
)

 ( 4,117
)

 Change in valuation allowance

 15,762

 16,554

 Actual tax expense (benefit)

 $
 -

 $
 -

 The
net deferred taxes in the accompanying balance sheets includes the following amounts of deferred tax assets and liabilities:

 SCHEDULE
OF DEFERRED TAX ASSETS AND LIABILITIES

 Gross deferred tax assets:

 Net operating loss carryforwards

 $
 ( 68,751
)

 $
 ( 52,987
)

 Total deferred tax assets

 ( 68,751
)

 ( 52,987
)

 Less: valuation allowance

 68,751

 52,987

 Net deferred tax asset recorded

 $
 -

 $
 -

 As
of September 30, 2023 the Company has a net operating loss carry forward of approximately $ 183,307 available
to offset future taxable income indefinitely, subject to limitations. The valuation allowance was established to reduce the deferred
tax asset to the amount that will more likely than not be realized. This is necessary due to the Company's continued operating
loss and the uncertainty of the Company's ability to utilize all of the net operating loss carryforwards.

 The
net change in the valuation allowance for the years ended September 30, 2023 and 2022 was an increase of $ 15,762 and $ 16,554, respectively.

 The
Company has not filed any federal income tax returns since 2018, therefore, while the Company is in a net loss position and expects no
income tax amounts to be due, they are at risk for failure to file penalties. As of the date of this report the Company has not been
informed that such penalties have been assessed, therefore no accrual for such has been recorded in the Company's financial statements.
The Company's federal income tax returns for the years 2018-2023 remain subject to examination by the Internal Revenue Service
through 2029.

 (F)
 Revenue Recognition

 The
Company's revenue recognition policy follows guidance from Accounting Standards Codification (ASC) 606, Revenue from Contract with
Customers. Revenue is recognized when the Company transfers promised goods and services to the customer and in the amount that reflects
the consideration to which the Company expects to be entitled in exchange for those goods and services.

 The
Company applies the following five-step model in order to determine this amount:

 (i)

 Identification
 of contact with a customer;

 (ii
)

 Identify
 the performance obligation of the contract

 (iii)

 Determine
 the transaction price;

 (iv)

 Allocation
 of the transaction price to the performance obligations; and

 (v)

 Recognition
 of revenue when (or as) the Company satisfies each performance obligation.

 F- 7

 The
Company has been in the exploration stage since its formation on November 13, 2016, and has not yet realized any revenues from its planned
operations. It is primarily engaged in the acquisition and exploration of oil, gas, and mining properties.

 (G)
 Mineral Properties

 Acquisition
costs of mining properties are capitalized pursuant to ASC 932 Extractive Activities - Oil and Gas and ASC 930 Extractive Activities
– Mining. Mineral exploration expenditures are expensed as incurred. When production is attained, capitalized acquisition costs
will be depleted using either the unit of production method based upon estimated proven recoverable reserves or the estimated production
life of the properties. When capitalized costs on individual properties exceed their estimated net realizable value, the properties are
written down to the estimated value. Costs relating to properties abandoned are charged to operations in the period in which that determination
is made.

 (H)
 Impairment of Long-Lived Assets

 Management
reviews the net carrying value of all property and equipment and other long-lived assets, including mineral properties, on a periodic
basis in accordance with ASC 360 Property, Plant, and Equipment. The Company estimates the net realizable value of an asset based on
the estimated undiscounted future cash flows that will be generated from operations at each property, the estimated salvage value of
the surface plant and equipment, and the value associated with property interests. These estimates of undiscounted future cash flows
are dependent upon the estimates of minerals to be recovered from proven and probable ore reserves, future production cost estimates,
and future mineral price estimates over the estimated remaining life of the mineral property. If undiscounted cash flows are less than
the carrying value of a property, an impairment loss will be recognized based upon the estimated expected future cash flows from the
property discounted at an interest rate commensurate with the risk involved. For the years ended September 30, 2023, and 2022, the Company
recorded impairment expense of $ 2,790 and $ 2,410, respectively, related to the mineral rights acquisition and exploration costs (see
Note 4).

 (I)
 Fair Value of Financial Instruments

 The
Company measures its financial assets and liabilities in accordance with ASC 820, Fair Value Measurements and Disclosures. For certain
of our financial instruments, including cash, accounts payable, and the short-term portion of long-term debt, the carrying amounts approximate
fair value due to their short maturities.

 ASC
820 defines fair value, provides guidance for measuring fair value and requires certain disclosures. This standard does not require any
new fair value measurements but rather applies to all other accounting pronouncements that require or permit fair value measurements.
This guidance does not apply to measurements related to share-based payments. This guidance discusses valuation techniques, such as the
market approach (comparable market prices), the income approach (present value of future income or cash flow), and the cost approach
(cost to replace the service capacity of an asset or replacement cost). The guidance utilizes a fair value hierarchy that prioritizes
the inputs to valuation techniques used to measure fair value into three broad levels. The following is a brief description of those
three levels:

 Level
 1: Observable inputs such as quoted prices (unadjusted) in active markets for identical assets or liabilities.

 Level
 2: Inputs other than quoted prices that are observable, either directly or indirectly. These include quoted prices for similar assets
 or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active.

 Level
 3: Unobservable inputs in which little or no market data exists, therefore developed using estimates and assumptions developed by
 us, which reflect those that a market participant would use.

 F- 8

 (J)
 Recent Accounting Pronouncements

 All
newly issued accounting pronouncements, but not yet effective, have been deemed either immaterial or not applicable.

 NOTE
2 RELATED PARTY TRANSACTIONS

 (A)
Due to Officer – Related Party

 During
the year ended September 30, 2023, the Company's CEO & President, who is also its majority shareholder, advanced $ 48,393
to the Company to pay Company expenses and was repaid $ 13,491.
The advances are non-interest bearing, unsecured, and due on demand. As of September 30, 2023 the amount due to the related party
was $ 139,636.

 During
the year ended September 30, 2022, the Company's CEO & President, who is also its majority shareholder, advanced $ 30,909
to the Company to pay Company expenses and was repaid $ 1,341.
As of September 30, 2022, the amount due to the related party was $ 104,734.

 (B)
Accounts Payable – Related Party

 On
November 1, 2018, the Company entered into a month-to-month office lease with the Company's CEO & President for its office
space at a monthly rate of $ 100.
The lease was terminated in December 2022. For the years ended September 30, 2023 and 2022, the Company recorded rent expense of
$ 300 and $ 1,200,
respectively. As of September 30, 2023, and September 30, 2022, the accounts payable owed to the related party was $ 5,000
and $ 4,700,
respectively.

 NOTE
3 STOCKHOLDERS' DEFICIT

 (A)
Preferred Stock

 The
Company was incorporated on November 13, 2016. On March 29, 2017, the Company became authorized to issue 5,000,000 shares of preferred
stock with a par value of $ 0.00001 per share. Preferred stock may be issued in one or more series. Rights and preferences are to be determined
by the Board of Directors.

 The
Board of Directors has designated 1,000 shares of the preferred stock as Series A Preferred Stock. On March 29, 2017, Jacob Roth purchased
the 1,000 shares of Series A Preferred Stock for their par value. At any shareholders meeting or in connection with the giving of shareholder
consents, the holder of each share of Series A Preferred Stock is entitled to exercise voting power equal to 0.051% of the aggregate
voting power. The holder of Series A Preferred Stock will receive dividends when and if they are declared by the Board of Directors.
The Series A Preferred Stock has a liquidation preference of $ 0.00001 per share. As of September 30, 2023, and September 30, 2022, there
were 1,000 shares of Series A Preferred Stock issued and outstanding.

 (B)
Common Stock Issued for Cash

 The
Company is authorized to issue 500,000,000 shares of common stock with a par value of $ 0.00001 per share.

 As
of September 30, 2023, and September 30, 2022, there were 7,841,550 shares of Common Stock issued and outstanding.

 F- 9

 NOTE
4 MINERAL PROPERTIES

 On
February 6, 2023 the Board of Land Commissions of the Wyoming Office of State Lands and Investments accepted the Company's application
to purchase oil and gas leases No. 22-00255 ( five -year oil and gas leasehold on 80 acres in Converse County) and 22-00256 ( five -year
oil and gas leasehold on 80 acres in Laramie County). During the year ended September 30, 2023, the Company paid a $ 50 application fee
for each lease and committed to pay the State of Wyoming $ 80 per year, per lease, for five years. Under ASC 930 Extractive Activities
- Mining, costs are to be capitalized as an asset, however, the Company has fully impaired the asset as the Company determined that there
was insufficient evidence to support a likelihood that the asset will generate future cash flows. During years ended September 30, 2023
and 2022, the Company recorded $ 260 and $ 0, respectively, as impairment expense pertaining to the properties, which has been recorded
in general and administrative expenses on the Statement of Operations.

 On
March 17, 2022, the Company entered into a ten-year mineral lease to prospect and extract gold, silver, and precious metals with an effective
date of April 1, 2022. The property is located in Crook County, Wyoming. During the year ended September 30, 2022, the Company paid a
$ 50 application fee and committed to pay the State of Wyoming $ 460 per year for five years and $ 919 per year for the next five years.
Under ASC 930 Extractive Activities - Mining, costs are to be capitalized as an asset, however, the Company has fully impaired the asset
as the Company determined that there was insufficient evidence to support a likelihood that the asset will generate future cash flows.
During the years ended September 30, 2023 and 2022, the Company recorded $ 460 and $ 510, respectively, as impairment expense pertaining
to the property, which has been recorded in general and administrative expenses on the Statement of Operations.

 On
November 9, 2021, the Company entered into a ten-year mineral lease to prospect and extract gold, silver, and precious metals with an
effective date of February 2, 2022. The property is located in Crook County, Wyoming. During the year ended September 30, 2022, the Company
paid a $ 50 application fee and committed to pay the State of Wyoming $ 160 per year for five years and $ 320 per year during the next five
years. Under ASC 930 Extractive Activities - Mining, costs are to be capitalized as an asset, however, the Company has fully impaired
the asset as the Company determined that there was insufficient evidence to support a likelihood that the asset will generate future
cash flows. During the years ended September 30, 2023 and 2022, the Company recorded $ 160 and $ 210, respectively, as impairment expense
pertaining to the property, which has been recorded in general and administrative expenses on the Statement of Operations.

 On
November 8, 2021, the Company entered into a ten-year mineral lease to prospect and extract gold, silver, and precious metals with an
effective date of February 2, 2022. The property is located in Crook County, Wyoming. During the year ended September 30, 2022, the Company
paid a $ 50 application fee and committed to pay the State of Wyoming $ 640 per year for five years and $ 1,280 per year for the next five
years. Under ASC 930 Extractive Activities - Mining, costs are to be capitalized as an asset, however, the Company has fully impaired
the asset as the Company determined that there was insufficient evidence to support a likelihood that the asset will generate future
cash flows. During the years ended September 30, 2023 and 2022, the Company recorded $ 640 and $ 690, respectively, as impairment expense
pertaining to the property, which has been recorded in general and administrative expenses on the Statement of Operations.

 F- 10

 On
December 6, 2018, the Company entered into an Assignment Agreement with the Company's President and majority shareholder, pursuant
to which the Company's President assigned to the Company all of the beneficial interest in a ten-year lease to prospect and extract
gold, silver and precious minerals which was granted to the Company's President on November 18, 2018. The Company assumed responsibility
for all fees, rents, and taxes that accrue with respect to that property, including the commitment to pay the State of Wyoming $ 640 per
year. The property is located in Crook County, Wyoming. Under ASC 930 Extractive Activities – Mining, costs are to be capitalized
as an asset, however, the Company has fully impaired the asset as the Company determined that there is insufficient evidence to support
a likelihood that the asset will generate future cash flows. During the years ended September 30, 2023 and 2022, the Company recorded
$ 640 and $ 640, respectively, as impairment expense pertaining to the property, which has been recorded in general and administrative
expenses on the Statement of Operations. As of September 30, 2023 the Company has accrued $ 2,560 for the annual lease fees owed to the
lessor, therefore the Company is in default for non-payment and is at risk to lose the lease if contacted by the lessor and the default
is not cured within 30 days of a notice of non-payment.

 On
September 27, 2018, the Company entered into an Assignment Agreement with the Company's President and majority shareholder, pursuant
to which the Company's President assigned to the Company all of the beneficial interest in a ten-year mineral lease to mine for
oil and gas which was granted to the Company's President on February 1, 2017. The Company assumed responsibility for all fees,
rents and taxes that accrue with respect to that property, including the commitment to pay the State of Wyoming $ 360 per year. The property
is located in Fremont County, Wyoming. Under ASC 932 Extractive Activities - Oil and Gas, costs are to be capitalized as an asset, however,
the Company has fully impaired the asset as the Company determined that there is insufficient evidence to support a likelihood that the
asset will generate any future cash flows. During the years ended September 30, 2023 and 2022, the Company recorded $ 360 and $ 360, respectively,
as impairment expense pertaining to the property, which has been recorded in general and administrative expenses on the Statement of
Operations. As of September 30, 2023 and September 30, 2022 the Company has accrued $ 1,800 for the annual lease fees owed to the lessor,
therefore the Company is in default for non-payment and is at risk to lose the lease if contacted by the lessor and the default is not
cured within 30 days of a notice of non-payment.

 NOTE
5 LIQUIDITY, GOING CONCERN AND MANAGEMENT'S PLANS

 These
financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the settlement of
liabilities and commitments in the normal course of business.

 As
reflected in the accompanying financial statements, for the year ended September 30, 2023, the Company had:

 Net
 loss of $ 60,308; and

 Net
 cash used in operations was $ 34,464.

 Additionally,
as of September 30, 2023, the Company had:

 Accumulated
 deficit of $ 288,275

 Stockholders'
 deficit of $ 257,974; and

 Working
 capital deficit of $ 257,974.

 The
Company had $ 190 cash on hand at September 30, 2023. Although the Company intends to raise additional debt (third party and related party
lenders) or equity capital, the Company expects to incur losses from operations and have negative cash flows from operating activities
for the near-term. These losses could be significant as the Company executes its business plan.

 These
factors create substantial doubt about the Company's ability to continue as a going concern within the twelve-month period subsequent
to the date that these financial statements are issued. The financial statements do not include any adjustments that might be necessary
if the Company is unable to continue as a going concern. Accordingly, the financial statements have been prepared on a basis that assumes
the Company will continue as a going concern and which contemplates the realization of assets and satisfaction of liabilities and commitments
in the ordinary course of business.

 NOTE
6 SUBSEQUENT EVENTS

 Subsequent
to September 30, 2023, the Company's President and majority shareholder advanced $ 12,079 to the Company to pay Company expenses
and was repaid $ 7,492.

 F- 11

 Item
 9.

 Changes
 in and Disagreements with Accountants on Accounting and Financial Disclosure

 Not
Applicable

 Item
9A. Controls and Procedures

 Evaluation
of Disclosure Controls and Procedures

 As
of September 30, 2023, Jacob Roth, our Chief Executive Officer and Chief Financial Officer, carried out an evaluation of the effectiveness
of the Company's disclosure controls and procedures, as defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange
Act of 1934. Based upon that evaluation, our Principal Executive Officer and Principal Financial Officer concluded that our disclosure
controls and procedures were not effective as of September 30, 2023 due to the material weaknesses identified below.

 Management's
Report on Internal Control over Financial Reporting

 Management
of the Company is responsible for establishing and maintaining adequate internal control over financial reporting as defined in Rule
13a-15(f) under the Securities Exchange Act of 1934. We have assessed the effectiveness of those internal controls as of September 30,
2023 using the Committee of Sponsoring Organizations of the Treadway Commission ("COSO") Internal Control – Integrated
Framework (1992) as a basis for our assessment.

 Because
of inherent limitations, internal control over financial reporting may not prevent or detect misstatements. 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 the policies and procedures may deteriorate. All internal control systems, no matter how well designed,
have inherent limitations. Therefore, even those systems determined to be effective can provide only reasonable assurance with respect
to financial statement preparation and presentation.

 A
material weakness in internal controls is a deficiency in internal control, or combination of control deficiencies, that adversely affects
the Company's ability to initiate, authorize, record, process, or report external financial data reliably in accordance with accounting
principles generally accepted in the United States of America such that there is more than a remote likelihood that a material misstatement
of the Company's annual or interim financial statements that is more than inconsequential will not be prevented or detected. In
the course of making our assessment of the effectiveness of internal controls over financial reporting, we identified three material
weaknesses in our internal control over financial reporting. These material weaknesses consisted of the following:

 We
 have inadequate control activities to prevent or detect material misstatements. Specifically, there are no controls in place to prevent
 users from manipulating financial data or entering inaccurate data into the Company's accounting software. Additionally, there
 is only one employee responsible for accounting functions, which prevents us from segregating duties within our internal control
 system. Lastly, our Chief Financial Officer lacks the knowledge and expertise to ensure the financial statements are properly recorded
 under U.S. Generally Accepted Accounting Principles.

 We
 have an inadequate control environment. Specifically, we have not developed sufficient policies or documentation concerning our existing
 financial processes, risk assessment processes, and information and communication processes. Additionally, we have no monitoring
 activities in place and we lack policies that require formal written approval for related party transactions.

 Management
does not believe that the current level of the Company's operations warrants a remediation of the weaknesses identified in this
assessment. However, because of the above condition, management's assessment is that the Company's internal controls over
financial reporting were not effective as of September 30, 2023.

 This
annual report does not include an attestation report of the Company's registered public accounting firm regarding internal control
over financial reporting. Management's report was not subject to attestation by the Company's registered public accounting
firm pursuant to rules of the Securities and Exchange Commission that permit the Company to provide only management's report in
this annual report.

 Changes
in Internal Controls

 There
was no change in internal control over financial reporting (as defined in Rule 13a-15(f) promulgated under the Securities Exchange Act
of 1934) identified in connection with the evaluation described in the preceding paragraph that occurred during Golden Royal's
fourth fiscal quarter that has materially affected or is reasonably likely to materially affect Golden Royal's internal control
over financial reporting.

 Item
9B Other Information

 None.

 Item
9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections.

 Not
applicable.

 PART
III

 Item
 10.

 Directors,
 Executive Officers and Corporate Governance

 The
executive officers and directors of the Company are:

 Name

 Age

 Position
 with the Company

 Director
 since

 Jacob
 Roth

 Chairman,
 Chief Executive Officer, Chief Financial Officer

 2016

 Bernard
 Rosenberg

 Director,
 Secretary

 2018

 Directors
hold office until the annual meeting of the Company's stockholders and the election and qualification of their successors. Officers
hold office, subject to removal at any time by the Board, until the meeting of directors immediately following the annual meeting of
stockholders and until their successors are appointed and qualified.

 JACOB
ROTH organized Golden Royal in 2016, and was named President, Chief Executive Officer, Chief Financial Officer and Director at that
time. From 1999 until 2015, Mr. Roth was Chairman and Chief Executive Officer of Royal Energy Resources, Inc. (OTCQB: ROYE), which was
at that time engaged in the purchase and sale of mineral properties. From 2002 through 2003, Mr. Roth was Director and Chief Executive
Officer of Virilitec Industries, Inc., a public company then quoted on the OTC Bulletin Board that was engaged in attempting to distribute
a line of bioengineered virility nutritional supplements. From 1982 until 1995, Mr. Roth was the President of JR Consulting Inc., a public
company then quoted on the OTC Bulletin Board that was engaged in providing consulting services. When not otherwise employed, Mr. Roth
is a self-employed business and financial consultant.

 BERNARD
ROSENBERG was appointed as a member of the Board of Directors and Secretary of Golden Royal in November 2018. Mr. Rosenberg has not
been employed during the past ten years. From 1982 until 1995, Mr. Rosenberg was employed as a Director and Secretary of JR Consulting
Inc., a public company then quoted on the OTC Bulletin Board that was engaged in providing consulting services. Mr. Rosenberg was appointed
to the Board of Directors of Golden Royal so that he could contribute his expertise in business development.

 Audit
Committee

 The
Board of Directors has not appointed an Audit Committee. The functions that would be performed by an Audit Committee are performed by
the Board of Directors. The Board of Directors does not have an "audit committee financial expert," because there are only
two Board members.

 Code
of Ethics

 The
Company has not adopted a formal code of ethics applicable to its executive officers. The Board of Directors has determined that the
Company's financial operations are not sufficiently complex to warrant adoption of a formal code of ethics.

 Section
16(a) Beneficial Ownership Reporting Compliance

 Not
applicable

 Item
11. Executive Compensation

Royal has not paid compensation to its executive officers, and has no immediate plan to compensate any of its officers.

 Employment
Agreements

 None
of the executive officers has a written employment agreement with Golden Royal. Each of them serves at will.

 Compensation
of Directors

 The
Company did not pay or accrue any obligation to the members of its Board of Directors for either of the years ended September 30, 2023
or 2022.

 Equity
Grants

Royal has not adopted any equity grant program. The Company's Chief Executive Officer, Jacob Roth, holds no stock options or unvested
stock awards, and held none at any time during the years ended September 30, 2023 and 2022.

 Item
12. Security Ownership of Certain Beneficial Owners and Management

 The
following table sets forth information known to us with respect to the beneficial ownership of each class of our voting stock as of the
date of this Annual Report by the following:

 each
 shareholder known by us to own beneficially more than 5% of our common stock,

 Jacob
 Roth, our Chief Executive Officer,

 each
 of our directors, and

 all
 directors and executive officers as a group.

 There
are 7,841,550 shares of our common stock and 1,000 shares of Series A Preferred Stock issued and outstanding. The Company does not have
any other class of stock outstanding. Except as otherwise indicated, we believe that the beneficial owners of the common stock listed
below have sole voting power and investment power with respect to their shares, subject to community property laws where applicable.
Beneficial ownership is determined in accordance with the rules of the Securities and Exchange Commission.

 Common
 Stock

 Series
 A Preferred Stock (1)

 Name of
 Beneficial Owner

 %
 of Class

 %
 of Class

 Percentage
 of Voting Power

 Jacob Roth

 7,500,000

 95.6
 %

 1,000

 %

 97.9
 %

 Bernard Rosenberg

 2,100
 (2)

 <0.1
 %

 —

 —

 <0.1
 %

 All officers and directors as a group (2 persons)

 7,502,100

 95.7
 %

 1,000

 %

 97.9
 %

 (1)
 The 1,000 authorized shares of Series A Preferred Stock hold, in aggregate, 51% of the Company's voting power.

 (2)
 Includes 1,100 shares owned of record by Lea Rosenberg, Mr. Rosenberg's spouse.

 Item
 13.

 Certain
 Relationships and Related Transactions and Director Independence

 Related
Party Transactions

 Commencing
on November 1, 2018, and until December 2022, Jacob Roth, Golden Royal's Chief Executive Officer, leased an office to Golden Royal
on a month-to-month basis for a rental fee of $100 per month, therefore during the year ended September 30, 2023 and 2022 the Company
recorded rent expense of $300 and $1,200, respectively. As of September 30, 2023 and 2022, the accounts payable owed to the related party
was $5,000 and $4,700, respectively.

 The
administrative expenses of Golden Royal since it was organized have been funded primarily by advances from Jacob Roth. The advances
are due on demand and do not bear interest. During the year ended September 30, 2023 the Company received advances from Jacob Roth
of $48,393 and repaid Jacob Roth $13,491. As of September 30, 2023, the balance of advances due and loans repayable from the Company
to Jacob Roth was $139,636.

 Except
as set forth above, there have been no transactions since the beginning of the 2023 fiscal year, or any currently proposed transaction,
in which Golden Royal was or is to be a participant and the amount involved exceeded or exceeds the lesser of $120,000 or one percent
of the average of the total assets of Golden Royal at year-end for the last two completed fiscal years, and in which any related person
had or will have a direct or indirect material interest.

 Director
Independence

 The
Board of Directors has determined that the following member of our Board of Directors is independent, as "independent" is
defined in the rules of the NYSE American: Bernard Rosenberg.

 Item
14. Principal Accountant Fees and Services

 Audit
Fees

 The
Company incurred $14,250 and $9,250 of billings from its principal accountant(s) in connection with the audit and reviews of the
Company's financial statements for the year ended September 30, 2023 and 2022, respectively. Also included are those services
normally provided by the accountant in connection with the Company's statutory and regulatory filings.

 Audit-Related
Fees

 The
Company did not incur any fees from its principal accountant(s) for any Audit-Related fees in fiscal 2023 or in fiscal 2022.

 Tax
Fees

 The
Company did not incur any fees from its principal accountant(s) for any professional services rendered for tax compliance, tax advice
and tax planning in fiscal 2023 or in fiscal 2022.

 All
Other Fees

 The
Company did not incur any fees from its principal accountant(s) for any other fees in fiscal 2023 or in fiscal 2022.

 It
is the policy of the Company that all services, other than audit, review or attest services, must be pre-approved by the Board of Directors.

 Item
 15.

 Exhibits
 and Financial Statement Schedules

 Exhibits

 3-a

 Certificate of Incorporation filed on November 30, 2016*

 3-a(1)

 Certificate of Designation for Series A Preferred Stock filed on March 29, 2017*

 3-b

 Bylaws*

 4(iv)

 Description of Registrant's common stock

 10-a

 Assignment Agreement dated September 27, 2018 between the Company and Jacob Roth*

 10-b

 Assignment Agreement dated December 6, 2018 between the Company and Jacob Roth*

 Rule 13a-14(a) Certification

 Rule 13a-14(b) Certification

 101.INS

 101.SCH

 101.CAL

 101.DEF

 101.LAB

 101.PRE

 Cover

 *
Filed as an exhibit to the Registration Statement on Form 10 filed on January 16, 2019.

 Item
 16.

 Form
 10-K Summary

 None.

 SIGNATURES

 In
accordance with Section 13 or 15(d) of the Exchange Act, the Registrant has caused this report to be signed on its behalf by the undersigned,
thereunto duly authorized.

 By:

 /s/
 Jacob Roth

 Jacob
 Roth, Chief Executive Officer

 In
accordance with the Exchange Act, this Report has been signed below on March 4, 2024 by the following persons, on behalf of the Registrant
and in the capacities and on the dates indicated.

 /s/
 Jacob Roth

 Jacob
 Roth, Director

 Chief
 Executive Officer, Chief

 Financial
 and Accounting Officer

 /s/
 Bernard Rosenberg

 Bernard
 Rosenberg, Director