NIKA PHARMACEUTICALS, INC.: FORM 10-K - Filed by EDGARhub LLC

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 2025-02-28

 2025-03-10

 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C.
20549

 FORM 10-K

 (Mark One)

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

 For the fiscal year Ended December 31, 2024

 OR

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

 For the transition period from ____________to ____________

 Commission File No.: 000-56234

 NIKA PHARMACEUTICALS, INC. (Exact
name of the small business issuer as specified in its charter)

 colorado

 90-0292940

 (State or Other Jurisdiction of

 (I.R.S. Employer

 Incorporation or Organization)

 Identification No.)

 2269 Merrimack Valley Avenue, Henderson, NV 89044 (Address of principal executive offices)

 (702) - 326-3615 (Registrant's telephone number,
including area code)

 (Former name, former address and former fiscal year, if changed
since last report)

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

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

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

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

 Indicate 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.

 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.

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

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

 State the aggregate market value of the voting and non-voting
common equity held by non-affiliates on the last business day of the
registrant's most recently completed second fiscal quarter. N/A

 As of December 9, 2024, Company's common stock is listed on
OTCQB under the symbol NIKA.

 As of December 31, 2024, there were 1,021,674,500
 shares of the issuer's common stock outstanding.

 As of March 10, 2025, the total
 outstanding common stock are 1,026,371,000.

 Page

 PART
 I

 Item 1.

 Business

 Item 1A.

 Risk
 Factors

 Item 1B.

 Unresolved
 Staff Comments

 Item 1C.

 Cybersecurity

 Item 2.

 Properties

 Item 3.

 Legal
 Proceedings

 Item 4.

 Mine Safety
 Disclosures

 PART
 II

 Item 5.

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

 Item 6.

 [Reserved]

 Item 7.

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

 Item 7A.

 Quantitative and Qualitative Disclosure About Market Risk

 Item 8.

 Financial
 Statements and Supplementary Data

 Item 9.

 Changes
 in and Disagreements with Accountants on Accounting and Financial
 Disclosure

 Item 9A.

 Controls
 and Procedures

 Item 9B.

 Other
 Information

 Item 9C.

 Disclosure Regarding Foreign Jurisdictions that Prevent
 Inspections.

 PART
 III

 Item 10.

 Directors, Executive Officers and Corporate Governance

 Item 11.

 Executive
 Compensation

 Item 12.

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

 Item 13.

 Certain
 Relationships and Related Transactions, and Director Independence

 Item 14.

 Principal
 Accountant Fees and Services

 PART
 IV

 Item 15.

 Exhibits
 and Financial Statement Schedules

 Item 16

 Form 10-K
 Summary

 Signature

 ITEM 1. BUSINESS

 Forward-Looking Statements

 Unless the context indicates
otherwise, as used in this Annual Report, the terms "Nika," "we," "us," "our,"
"our company" and "our business" refer, to Nika Pharmaceuticals, Inc..,
including its subsidiaries. Certain statements, other than purely historical
information, including estimates, projections, statements relating to our
business plans, objectives, and expected operating results, and the assumptions
upon which those statements are based, are "forward-looking statements." These
forward-looking statements generally are identified by the words "believes,"
"project," "expects," "anticipates," "estimates," "intends," "strategy," "plan,"
"may," "will," "would," "will be," "will continue," "will likely result," and
similar expressions. Forward-looking statements are based on current
expectations and assumptions that are subject to risks and uncertainties which
may cause actual results to differ materially from the forward-looking
statements. Our ability to predict results or the actual effect of future plans
or strategies is inherently uncertain. Factors which could have a material
adverse effect on our operations and future prospects include, but are not
limited to: changes in economic conditions, legislative/regulatory changes,
availability of capital, interest rates, competition, and generally accepted
accounting principles. These risks and uncertainties should also be considered
in evaluating forward-looking statements and undue reliance should not be placed
on such statements.

 Business Overview

 Nika Pharmaceuticals, Inc. was
incorporated in the State of Colorado on June 6, 2000. Pursuant to the terms of
a stock purchase agreement resulting in a change of control the Company is
changing its business to focus on the following.

 On April 7, 2022, the Company
signed with "VITAL FE" Joint Stock Company ("VITAL") an Exclusive Rights
Agreement for a term of 15 years for the production and distribution of Thymus
Nuclear Glycoprotein ("TNG"). VITAL holds the technology to manufacture TNG and
the intellectual property for Phase III Clinical Trial on TNG, started in 1997
and completed in 1998 in Infectious Diseases Hospital, Sofia on 20 patients
suffering from AIDS in the advanced stages of the disease. The results of the
clinical trial show that TNG has a significant place in the treatment of
HIV.

 On April 7, 2022, signed with
"MICAR 11" LTD. ("MICAR") an Exclusive Rights Agreement for a term of 15 years
for the production and distribution of two dietary supplements, namely
 Carotilen and Physiolong. Carotilen is a dietary supplement
in the form of soft gelatin capsules that improves and regulates the metabolism
of the epithelial cells and protects them from degenerative alterations. It
favorably affects embryonic development; the regulation of the growth and
division of the cells; stimulates the growth of the bone tissue; favorably
affects the function of the gonads; increases and maintains high level of the
immune system. Physiolong is a dietary food supplement in the form of
hard gelatin capsules, which serves as general stimulant for those in a period
of convalescence, as well as in situations of high mental and physical loads,
and for the recovery in sports.

 On August 1, 2022, the Company
signed a Joint Business Agreement with Immunotech Laboratories BG, Ltd. through
which the two companies are combining their efforts to realize the registration,
production and distribution of medicinal products based on the Inactivated
Pepsin Fraction ("IPF") platform with U.S. Patents N 7,479,538, 7,625,565,
8,066,982, 8,067,531, 8,309,072. The duration of the agreement is for a period
of 9 years and will be renewed automatically for another 9 years unless there
are reasonable objections to the renewal by one of the parties.

 On August 1, 2022, the Company
signed a Cooperation Agreement with Nika BioTechnology, Inc. (OTCMKTS: NIKA) a
Nevada Corporation. Pursuant to the agreement, 0ll development of the
prescription drug TNG, the dietary supplements Physiolong and Carotilen, as well
as any future acquired other patents for prescription drugs and dietary
supplements, shall be jointly developed by the parties. The costs of production
and distribution will be financed by both parties in equal parts. The net profit
– after deduction of all expenses and taxes – will be distributed between the
parties in equal parts. The agreement is for a period of 15 years.

 On August 31, 2022, the company
signed an Exclusive Rights Agreement with Dimitar Slavchev Savov through which
Nika is appointed as an exclusive representative for the production and sale of
additional 6 dietary supplements – Hypocholestin, Biodetoxin, Dry Boza, Fructin, Anthocylen C,
Silymaron - within the territories of Europe, Asia, Africa, South America, North
America and Australia.

 On October 11, 2022, the Company
 acquired a 40% stake in Nika Europe, Ltd. through which the company will have a
 firm foothold on the markets of Europe, Asia, and Africa. Nika Europe is
 preparing the construction of a pharmaceutical factory that is comprised of
 different manufacturing facilities for the production of drugs in injection,
 tablet and other forms. The factory will have enough production capacity to
secure the needs of Nika.

 On January 25, 2024, the
Company's common stock was listed on OTC Markets PINK under the symbol, NKPH,
which was later voluntarily changed to NIKA effective May 6, 2024.

 Common Control Mergers

 On February 12, 2024, the Company signed an Agreement and Plan
of Merger (the "Merger") with Nika BioTechnology, Inc. (OTCMKTS: NIKA). Pursuant
to the Merger agreement Nika BioTechnology, Inc., (the Target company), was
merged with and into the Company, the separate corporate existence of the Target
shall cease, and the Company shall continue as the surviving consolidated
entity. Nika BioTechnology, Inc., owned a 40% stake in Nika Europe, Ltd, which
was transferred to the Company pursuant to the merger terms effective April 12,
2024. Given that on October 11, 2022, the Company acquired a 40% stake in Nika
Europe, Ltd., as of April 12, 2024, the Company has an 80% controlling interest
in Nike Europe. The Company will issue the target 204,205,027 shares of common
stock and 5,000,000 shares of Preferred stock in exchange for all of the issued
and outstanding shares of both the preferred and common stock of the Target
company.

 The transaction was accounted for as a common control merger.
As a result, the assets and liabilities assumed will be recorded on the
Company's financial statements at their respective carry-over basis. Under ASC
805, "Business Combinations," the Company will record the common control merger
as of the earliest date presented in the financial statements. Although the
accounting is not yet complete, the results of operations of the business
acquired by the Company have been included in the consolidated statements of
operations since the date of acquisition. All amounts are considered provisional
until a more thorough analysis of the acquisition can be completed.

 On March 4, 2024, the Company
amended its Articles of Incorporation, in which the authorized Preferred Stock
was increased to 15,000,000 pursuant to the approved by the BOD and shareholders
Plan and Merger Agreement.

 On December 9, 2024, the
Company's common stock was uplisted to OTCQB where it is currently trading.

 Implications of Being an Emerging Growth Company

 We qualify as an "emerging growth
company" as defined under the Securities Act. As a result, we are permitted to,
and intend to, rely on exemptions from certain disclosure requirements that are
otherwise applicable to public companies. These provisions include, but are not
limited to:

 •

 not being required to comply with the auditor attestation
 requirements of Section 404 of the Sarbanes-Oxley Act of 2002, as amended
 (or the Sarbanes-Oxley Act);

 •

 reduced disclosure obligations regarding executive
 compensation in our periodic reports, proxy statements and registration
 statements; and

 •

 exemptions from the requirements of holding a nonbinding
 advisory vote on executive compensation and stockholder approval of any
 golden parachute payments not previously approved.

 In addition, an emerging growth
company can take advantage of an extended transition period for complying with
new or revised accounting standards. This provision allows an emerging growth
company to delay the adoption of some accounting standards until those standards
would otherwise apply to private companies. We have elected to avail ourselves
of this extended transition period. We will remain an emerging growth company
until the earliest to occur of: (i) our reporting $1.07 billion or more in
annual gross revenues; (ii) the end of fiscal year 2025; (iii) our issuance, in
a three year period, of more than $1 billion in non-convertible debt; and (iv)
the end of the fiscal year in which the market value of our common stock held by
non-affiliates exceeded $700 million on the last business day of our second
fiscal quarter.

 ITEM 1A, RISK FACTORS

 We are a smaller reporting
company as defined by Rule 12b-2 of the Securities Exchange Act of 1934 and, as
such, are not required to provide the information under this Item.

 ITEM 1B. UNRESOLVED STAFF COMMENTS

 None

 ITEM 1C. CYBERSECURITY

 The Company does not have any processes for identifying and
managing material risks from cybersecurity threats. The Company considers that
at the current stages of its development and information systems there are no
risks of cybersecurity incidents that have materially affected and are
reasonably likely to materially affect the company, including its business
strategy, results of operations, or financial condition.

 Because the Company is not reasonably likely to be materially
affected by cybersecurity threats at the current stages of its development,
there are no particular director's oversight of risks from cybersecurity threats
and management does not have an active role in assessing and managing the
Company's material risks from cybersecurity threats.

 ITEM 2. PROPERTIES

 We do not currently own any
property.

 ITEM 3. LEGAL PROCEEDINGS

 There are no material claims,
actions, suits, proceedings, or investigations that are currently pending or, to
the Company's knowledge, threatened by or against the Company or respecting its
operations or assets, or by or against any of the Company's officers, directors,
or affiliates.

 ITEM 4. MINE SAFETY DISCLOSURES

 Not applicable.

 ITEM 5. MARKET FOR COMMON EQUITY AND RELATED STOCKHOLDER
MATTERS AND ISSUER PURCHASES OF EQUITY
SECURITIES

 Market Information

 Our common stock is quoted under
the symbol NIKA on the The Venture Market (f/k/a OTCQB) published by OTC Markets
Group, Inc. ("OTCQB").

 Common Stock

 There are 2,700,000,000 shares of
Common Stock, $0.0001 par value, authorized, with 1,021,674,500 shares issued
and outstanding. The holders of Common Stock are entitled to one vote for each
share held on all matters submitted to a vote of shareholders. The holders of
Common Stock have no preemptive, subscription, redemption or conversion rights.

 Preferred Stock

 We have 15,000,000 shares of Preferred Stock, $0.0001 par
value, authorized of which 15,000,000 are issued and outstanding. Each
outstanding share of the series of Preferred Stock shall be entitled to one
thousand (1,000) votes on each matter submitted to a vote. Shares of Preferred
Stock shall, with respect to dividend rights, rights on redemption and rights on
liquidation, winding up and dissolution, rank pari passu with all classes of
Common Stock.

 Security Holders

 At March 10, 2025 there were
approximately 74 holders of record of our common stock, although we believe that
there are other persons who are beneficial owners of our common stock held in
street name. The transfer agent and registrar for our common stock is Securities
Transfer Corporation, 2901 N Dallas Parkway, Suite 380, Plano, Texas 75093.
Their telephone number is 469-633-0101.

 Dividend Policy

 We have never paid any cash
dividends and intend, for the foreseeable future, to retain any future earnings
for the development of our business. Our Board of Directors will determine our
future dividend policy on the basis of various factors, including our results of
operations, financial condition, capital requirements and investment
opportunities.

 Recent Issuance of Unregistered Securities

 During the year ended December 31, 2024, pursuant to the terms
of the Merger with Nika BioTechnology, Inc (Note 1), the Company issued
145,584,500 shares of common stock of the 204,205,027 shares to be issued.

 Securities Authorized for Issuance Under Equity Compensation
Plans

 None.

 Item 6. [Reserved]

 Item 7. Management's Discussion and Analysis of Financial
Condition and Results of Operation

 The following discussion and
analysis of our consolidated financial condition and results of operations for
years ended December 31, 2024 and 2023 should be read in conjunction with the
consolidated financial statements and notes related thereto included elsewhere
in this report.

 Results of Operations for the Year Ended December 31,
2024 compared to the Year Ended December 31, 2023

 General and Administrative

 General and Administrative ("G&A") expenses have primarily consisted of costs related to transfer
agent fees, website maintenance expenses, and fees. For the years ended December 31, 2024 and 2023 we had ("G&A") expense of
$35,174 and $64,833. A decrease of $29,659 or 45.74%.

 Professional fees

 Professional fees expenses have primarily consisted of costs
related to filing the Form 10-K and Form 10-Qs for the Company, including audit,
legal and accounting expense and filing fees. For the years ended December 31,
2024 we had expense of $60,618 and $0 for 2023.

 Net Loss

 During the year ended December 31, 2024, the Company incurred a
net loss of $95,792, compared to a net loss of $64,833 during the year ended
December 31, 2023.

 Liquidity and Capital Resources

 Operating Activities

 Net cash used in operating activities was $139,081 during the
year ended December 31, 2024, compared with $64,833 used in operating activities
during the year ended December 31, 2023.

 Investing Activities

 We neither generated nor used cash in investing activities
during the years ended December 31, 2024 and 2023.

 Financing Activities

 During the year ended December 31, 2024, we received $137,419
in loan proceeds from a related party. During the year ended December 31, 2023,
we received $83,565 in loan proceeds from related parties.

 Off-Balance Sheet Arrangements

 We have not entered into any off-balance sheet arrangements.

 Going Concern

 We have not yet generated
sustained profits from our operations. Our independent accountants have
expressed a "going concern" opinion. As of December 31, 2024, we had an
accumulated deficit of $8,927,612 and a net loss of $95,792 for the year ended
December 31, 2024.

 Management believes the Company
will continue to incur losses and negative cash flows from operating activities
for the foreseeable future and will need additional equity or debt financing to
sustain its operations until it can achieve profitability and positive cash
flows, if ever. Management plans to seek additional debt and/or equity financing
for the Company but cannot assure that such financing will be available on
acceptable terms.

 Our current management has agreed
to advance funds to the Company on an "as needed" basis. Should existing
management, stockholders or our affiliates refuse to advance needed funds,
however, we would be forced to turn to outside parties to either lend funds to
us or buy our securities. There is no assurance that we will be able to raise
the necessary funds, when needed, from outside sources.

 The Company's continuation as a
going concern is dependent upon its ability to ultimately attain profitable
operations, generate sufficient cash flow to meet its obligations, and obtain
additional financing as may be required. Our auditors have included a "going
concern" qualification in their Report of Independent Certified Public
Accountants accompanying our audited consolidated financial statements appearing
elsewhere herein which cites substantial doubt about our ability to continue as
a going concern. Such a "going concern" qualification may make it more difficult
for us to raise funds when needed. The outcome of this uncertainty cannot be
assured.

 ITEM 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT
MARKET RISK

 We are a smaller reporting company as defined by Rule 12b-2 of
the Securities Exchange Act of 1934 and are not required to provide the
information under this item.

 ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY
DATA

 NIKA PHARMACEUTICALS, INC. TABLE OF CONTENTS

 Report of Independent Registered Public Accounting Firm (Boladale Lawal & Co) PCAOB ID (6993)

 Report of Independent Registered Public Accounting Firm (Fruci
& Associates II, PLLC – PCAOB ID 05525)

 Consolidated Balance Sheets as of December 31,
2024 and 2023

 Consolidated Statements of Operations for the years ended December
31, 2024 and 2023

 Consolidated Statement of Stockholders' Deficit for the years
ended December 31, 2024 and 2023

 Consolidated Statements of Cash Flows for the
years ended December 31, 2024 and 2023

 Notes to Consolidated Financial Statements

 Report of Independent Registered Public Accounting Firm The Board of Directors and Stockholders of
 NIKA PHARMACEUTICALS,
INC.

 Opinion on the Financial Statements

 We have audited the accompanying consolidated balance sheets of
Nika Pharmaceuticals, Inc (the Company') as of December 31, 2024, and the
related consolidated statements of operations, changes in stockholders'
(deficit) and cash flows for the year ended December 31, 2024, and the related
notes (collectively referred to as the "financial statements"). In our opinion,
the consolidated financial statements present fairly, in all material respects,
the consolidated financial position of the Company as of December 31, 2024, and
the results of its operations and its cash flows for the year ended December 31,
2024, in conformity with accounting principles generally accepted in the United
States of America.

 Going Concern

 The accompanying consolidated financial statements have been
prepared assuming that the Company will continue as a going concern. As
discussed in Note 3, the Company suffered an accumulated deficit of
$(8,927,612), net loss of $(95,792) and a negative working capital of
$(221,230). The Company is dependent on obtaining additional working capital
funding from the sale of equity and/or debt securities to execute its plans and
continue operations. These conditions raise substantial doubt about the
Company's ability to continue as a going concern. These financial statements do
not include any adjustments that might result from the outcome of this
uncertainty.

 Basis for Opinion

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

 We conducted our audits in accordance with the standards of the
PCAOB. Those standards require that we plan and perform the audits to obtain
reasonable assurance about whether the financial statements are free of material
misstatement, whether due to error or fraud. The Company is not required to
have, nor were we engaged to perform, an audit of its internal control over
financial reporting. As part of our 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 Company'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. Communication of
critical audit matters does not alter in any way our opinion on the financial
statements taken as a whole and we are not, by communicating the critical audit
matters, providing separate opinions on the critical audit matter or on the
accounts or disclosures to which they relate.

 Going Concern Uncertainty – See also
Going Concern Uncertainty explanatory paragraph above:

 As described in Note 3 to the consolidated financial
statements, the Company has significant operating losses and a working capital
deficiency. Furthermore, the company have not generated revenue to cover
operating cost. The ability of the Company to continue as a going concern is
dependent on obtaining additional working capital funding from the sale of
equity and/or debt securities to execute its plans and continue operations.
These conditions raise substantial doubt about the Company's ability to continue
as a going concern. The procedures performed to address the matter included.

 (i)

 We inquired of executive officers, and key members of
 management, of the Company regarding factors that would have an impact on
 the Company's ability to continue as a going concern,

 (ii)

 We evaluated management's plan for addressing the adverse
 effects of the conditions identified, including assessing the
 reasonableness of forecasted information and underlying assumptions by
 comparing to actual results of prior periods and actual results achieved
 to date, and utilizing our knowledge of the entity, its business and
 management in considering liquidity needs and the Company's ability to
 generate sufficient cash flow,

 (iii)

 We assessed the possibility of raising additional debt or
 credit,

 (iv)

 We evaluated the completeness and accuracy of disclosures
 in the financial statements.

 /s/ Boladale Lawal BOLADALE LAWAL & CO.
 (Chartered Accountants) (PCAOB ID 6993) Lagos,
Nigeria

We have served as the Company's auditor since 2024.

March
27, 2025

 REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

 To the Board of Directors and Stockholders of Nika
Pharmaceuticals, Inc.

 Opinion on the Financial Statements

 We have audited the accompanying consolidated balance sheet of
Nika Pharmaceuticals, Inc. ("the Company") as of December 31, 2023, and the
related consolidated statements of operations, changes in stockholders'
(deficit), and cash flows for the year then ended, and the related notes
(collectively referred to as the financial statements). In our opinion, the
financial statements present fairly, in all material respects, the financial
position of the Company as of December 31, 2023, and the results of its
operations and its cash flows for the year then ended, in conformity with
accounting principles generally accepted in the United States of America.

 Going Concern

 The accompanying financial statements have been prepared
assuming that the Company will continue as a going concern. As discussed in Note
3 to the financial statements, the Company has no current operations and has
generated no income to date. These factors, among others, raise substantial
doubt about the Company's ability to continue as a going concern. Management's
plans in regard to these matters are also described in Note 3. The financial
statements do not include any adjustments that might result from the outcome of
this uncertainty.

 Basis for Opinion

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

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

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

 Critical Audit Matters

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

 Fruci & Associates II, PLLC – PCAOB ID
# 05525
We have served as the Company's auditor since 2024.

 Spokane,
Washington

March 28, 2025

 NIKA PHARMACEUTICALS, INC.

CONSOLIDATED BALANCE SHEETS

 December 31, 2024

 December 31, 2023

 ASSETS

 Current Assets:

 Cash

 $

 2,083

 $

 Prepaid expenses

 15,851

 —

 Total current assets

 17,934

 Total Assets

 $

 17,934

 $

 LIABILITIES AND
 STOCKHOLDERS' DEFICIT

 Current Liabilities:

 Due to
 related party

 $

 239,164

 $

 101,745

 Total Current Liabilities

 239,164

 101,745

 Total Liabilities

 239,164

 101,745

 Commitments and contingencies

 —

 —

 Stockholders' Deficit:

 Preferred
 Stock; par value $ 0.0001;
 15,000,000
 shares
 authorized; 15,000,000 and 10,000,000
 shares
 issued
 and outstanding, respectively

 1,500

 1,000

 Common
 Stock; par value $ 0.0001;
 2,700,000,000
 shares
 authorized; 1,018,519,500 and 876,090,000
 shares
 issued
 and outstanding, respectively

 102,168

 87,609

 Additional paid-in capital

 8,602,714

 3,229,489

 Accumulated deficit

 ( 8,927,612

)

 ( 3,400,247

)

 Total Stockholders' Deficit

 ( 221,230

)

 ( 82,149

)

 Total Liabilities and Stockholders' Deficit

 $

 17,934

 $

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

 NIKA PHARMACEUTICALS, INC.

 CONSOLIDATED STATEMENTS OF OPERATIONS

 For the Years Ended

 December 31,

 2024

 2023

 Operating Expenses:

 General and
 administrative

 $

 35,174

 $

 64,833

 Professional
 fees

 60,618

 —

 Total operating expenses

 95,792

 64,833

 Loss from operations

)

)

 Loss before provision for income taxes

)

)

 Provision for income taxes

 —

 —

 Net Loss

 $

)

 $

)

 Loss per share, basic and
 diluted

 $

 ( 0.00

)

 $

 ( 0.00

)

 Weighted average common
 shares outstanding,
basic and diluted

 1,021,674,500

 876,090,000

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

 NIKA PHARMACEUTICALS, INC. CONSOLIDATED STATEMENT
OF STOCKHOLDERS' DEFICIT FOR THE YEARS ENDED DECEMBER 31, 2024 AND
2023

 Total

 Preferred Stock

 Common Stock

 Additional Paid

 Accumulated

 Stockholders'

 Shares

 Amount

 Shares

 Amount

 in Capital

 Deficit

 Equity

 Balance, December 31, 2022

 10,000,000

 $

 1,000

 876,090,000

 $

 87,609

 $

 3,229,489

 $

 ( 3,335,414

)

 $

 ( 17,316

)

 Net loss

 —

 —

 —

 —

 —

)

)

 Balance, December 31, 2023

 10,000,000

 $

 1,000

 876,090,000

 $

 87,609

 $

 3,229,489

 $

 ( 3,400,247

)

 $

 ( 82,149

)

 Common control merger

 5,000,000

 145,584,500

 14,558

 5,373,225

 ( 5,431,573

)

 ( 43,289

)

 Net loss

 —

 —

 —

 —

 —

)

)

 Balance, December 31, 2024

 15,000,000

 $

 1,500

 1,021,674,500

 $

 102,167

 $

 8,602,714

 $

 ( 8,927,612

)

 $

 ( 221,230

)

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

 NIKA PHARMACEUTICALS, INC. CONSOLIDATED STATEMENTS
OF CASH FLOWS

 For the Years Ended
December 31,

 2024

 2023

 Cash flows from operating activities:

 Net Loss

 $

)

 $

)

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

 Common
 control merger

 ( 43,289

)

 —

 Net cash used in operating activities

 ( 139,081

)

)

 Cash flows from investing activities:

 —

 —

 Cash flows from financing activities:

 Loans
 from related party

 137,419

 83,565

 Net cash provided by financing activities

 137,419

 83,565

 Net change in cash

 ( 17,513

)

 18,732

 Cash, beginning of year

 Cash, end of year

 $

 2,083

 $

 Supplemental disclosure of cash flow information:

 Cash paid for taxes

 $

 —

 $

 —

 Cash paid for interest

 $

 —

 $

 —

 Supplemental disclosure of non-cash investing and financing
 activity:

 Forgiveness of related
 party debt

 $

 —

 $

 —

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

 NIKA PHARMACEUTICALS, INC. NOTES TO CONSOLIDATED
FINANCIAL STATEMENTS DECEMBER 31, 2024

 NOTE 1 – ORGANIZATION AND OPERATIONS

 Nika Pharmaceuticals, Inc. (the "Company" "Nika"), was
incorporated in the State of Colorado on June 8, 2000.

 On February 19, 2020, the Company created a subsidiary, Venture
Growth Equities, Inc., a Colorado corporation, of which 100 shares of common
stock was issued to the Company, making it a wholly owned subsidiary of the
Company. There has been no activity in the subsidiary.

 On February 28, 2020, the Company created a subsidiary,
Centennial Ventures, Inc., a Colorado corporation, of which 100 shares of common
stock was issued to the Company., making it a wholly owned subsidiary of the
Company. There has been no activity in the subsidiary.

 Mr. Ray was appointed as a Director, CEO, CFO, Secretary and
Treasurer of the Company and Mrs. A. Terry Ray, the wife of Mr. Ray, was
appointed as a Director of the Company.

 On January 6, 2022, Venture Growth Equities, Inc, was spun out
and signed over to Mr. Ray, thus no longer making it a subsidiary of the
Company.

 As a result of the purchase by Dimitar Slavchev Savov of a
total of 11,489,000 (87%) shares of common stock of the Corporation from Mr. Ray
and other shareholders, a change in control of the Company occurred as of April
1, 2022.

 Effective as of March 31, 2022, the board of directors appointed
Dimitar Slavchev Savov, and Clifford Redekop to serve as the Registrant's
Directors.

 On March 31, 2022, Mr. Phil E. Ray resigned his position as a
Director, President and Chief Executive Officer of the Company.

 On March 31,
2022, Mrs. A. Terry. Ray resigned her position as a Director and Secretary of
the Company.

 On April 1, 2022, the board of directors accepted the
resignations of Mr. Phil E. Ray and Mrs. A. Terry Ray and appointed Dimitar
Slavchev Savov to serve as President, CEO, CFO and Clifford Redekop to serve as
Secretary of the Corporation.

 As of April 11, 2022, due to the acquisitions of Exclusive
Rights Agreements (Note 5) and the updated business scope, the Company is no
longer designated as a shell company.

 On May 17, 2022, the Company files Amended and Restated
Articles of Incorporation changing the name of the Company from Centennial
Growth Equities, Inc to Nika Pharmaceuticals, Inc.

 On October 11, 2022, the Company acquired a 40 % stake in Nika
Europe, Ltd. through which the company will have a firm foothold on the markets
of Europe, Asia, and Africa. Nika Europe is preparing the construction of a
pharmaceutical factory that is comprised of different manufacturing facilities
for the production of drugs in injection, tablet and other forms.

 On January 25, 2024, the Company's common
stock was listed on OTC Markets PINK under the symbol, NKPH, which was later
voluntarily changed to NIKA effective May 6, 2024.

 Common Control Mergers

 On February 12, 2024, the Company signed an
Agreement and Plan of Merger (the "Merger") with Nika BioTechnology, Inc.
(OTCMKTS: NIKA). Pursuant to the Merger agreement Nika BioTechnology, Inc., (the
Target company), was merged with and into the Company, the separate corporate
existence of the Target shall cease, and the Company shall continue as the
surviving consolidated entity. Nika BioTechnology, Inc., owned a 40 % stake in
Nika Europe, Ltd, which was transferred to the Company pursuant to the merger
terms effective April 12, 2024. Given that on October 11, 2022, the Company
acquired a 40 % stake in Nika Europe, Ltd., as of April 12, 2024, the Company has
an 80 % controlling interest in Nike Europe. The Company will issue the target 204,205,027 shares of
common stock and 5,000,000 shares of Preferred stock in exchange for all of the
issued and outstanding shares of both the preferred and common stock of the
Target company.

 The transaction was accounted for as a
 common control merger. As a result, the assets and liabilities assumed will be
 recorded on the Company's financial statements at their respective carry-over
 basis. Under ASC 805, "Business Combinations," the Company will record the
 common control merger as of the earliest date presented in the financial
 statements. Although the accounting is not yet complete, the results of
 operations of the business acquired by the Company have been included in the
 consolidated statements of operations since the date of acquisition. All amounts
 are considered provisional until a more thorough analysis of the acquisition can
be completed.

 On March 4, 2024, the Company amended its
Articles of Incorporation, in which the authorized Preferred Stock was increased
to 15,000,000 pursuant to the approved by the BOD and shareholders Plan and
Merger Agreement.

 On December 9, 2024, the Company's common stock was uplisted to
OTCQB where it is currently trading.

 NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

 Basis of Presentation

 The Company's audited consolidated financial statements have
been prepared in accordance with accounting principles generally accepted in the
United States of America ("U.S. GAAP").

 Use of Estimates

 The preparation of financial statements in conformity with
generally accepted accounting principles requires management to make estimates
and assumptions that affect the reported amounts of assets and liabilities and
disclosure of contingent assets and liabilities at the date of the financial
statements and the reported amounts of revenues and expenses during the
reporting period. Actual results may differ from those estimates.

 Concentrations of Credit Risk

 We maintain our cash in bank deposit accounts, the balances of
which at times may exceed federally insured limits. We continually monitor our
banking relationships and consequently have not experienced any losses in our
accounts. We believe we are not exposed to any significant credit risk on cash.

 Cash and Cash Equivalents

 For purposes of the statement of cash flows, the Company
considers all highly liquid instruments purchased with an original maturity of
three months or less to be cash equivalents. As of December 31, 2024 and 2023,
the Company had no cash equivalents.

 Principles of Consolidation

 The consolidated financial statements include the accounts of
the Company and its wholly owned subsidiary, Centennial Ventures, Inc. There has been no activity in either subsidiary as of
December 31, 2024.

 Fair Value of Financial Instruments

 The Company follows paragraph 825-10-50-10 of the FASB
Accounting Standards Codification for disclosures about fair value of its
financial instruments and paragraph 820-10-35-37 of the FASB Accounting
Standards Codification ("Paragraph 820-10-35-37") to measure the fair value of
its financial instruments. Paragraph 820-10-35-37 establishes a framework for
measuring fair value in accordance with U.S. GAAP and expands disclosures about
fair value measurements. To increase consistency and comparability in fair value
measurements and related disclosures, Paragraph 820-10-35-37 establishes a fair
value hierarchy which prioritizes the inputs to valuation techniques, used to
measure fair value into three (3) broad levels. The fair value hierarchy gives
the highest priority to quoted prices (unadjusted) in active markets for
identical assets or liabilities and the lowest priority to unobservable inputs.
The three (3) levels of fair value hierarchy defined by Paragraph 820-10-35-37
are described below.

 Level 1:

 Quoted market prices available in active
 markets for identical assets or liabilities as of the reporting date.

 Level 2:

 Pricing inputs other than quoted prices in active markets
 included in Level 1, which are either directly or indirectly observable as
 of the reporting date.

 Level 3:

 Pricing inputs that are generally unobservable
 inputs and not corroborated by market data.

 Income Taxes

 The Company follows Section 740-10-30 of the FASB Accounting
Standards Codification, which requires recognition of deferred tax assets and
liabilities for the expected future tax consequences of events that have been
included in the financial statements or tax returns. Under this method, deferred
tax assets and liabilities are based on the differences between the financial
statement and tax bases of assets and liabilities using enacted tax rates in
effect for the fiscal year in which the differences are expected to reverse.
Deferred tax assets are reduced by a valuation allowance to the extent
management concludes it is more likely than not that the assets will not be
realized. Deferred tax assets and liabilities are measured using enacted tax
rates expected to apply to taxable income in the fiscal years in which those
temporary differences are expected to be recovered or settled. The effect on
deferred tax assets and liabilities of a change in tax rates is recognized in
the Statements of Income in the period that includes the enactment date.

 The Company follows section 740-10-25 of the FASB Accounting
Standards Codification ("Section 740-10-25") with regards to uncertainty income
taxes. Section 740-10-25 addresses the determination of whether tax benefits
claimed or expected to be claimed on a tax return should be recorded in the
financial statements. Under Section 740-10-25, the Company may recognize the tax
benefit from an uncertain tax position only if it is more likely than not that
the tax position will be sustained on examination by the taxing authorities,
based on the technical merits of the position. The tax benefits recognized in
the financial statements from such a position should be measured based on the
largest benefit that has a greater than fifty percent (50%) likelihood of being
realized upon ultimate settlement. Section 740-10-25 also provides guidance on
de-recognition, classification, interest and penalties on income taxes,
accounting in interim periods and requires increased disclosures. The Company
had no material adjustments to its liabilities for unrecognized income tax
benefits according to the provisions of Section 740-10-25.

 Stock-Based Compensation

 We account for equity-based transactions with employees and
non-employees under the provisions of FASB ASC Topic 718, "Compensation –
Stock Compensation" (Topic 718), which establishes that equity-based
payments to employees and non-employees are recorded at the grant date the fair
value of the equity instruments the entity is obligated to issue when the
employees and non-employees have rendered the requisite service and satisfied
any other conditions necessary to earn the right to benefit from the
instruments. Topic 718 also states that observable market prices of identical or
similar equity or liability instruments in active markets are the best evidence
of fair value and, if available, should be used as the basis for the measurement
for equity and liability instruments awarded in these share-based payment
transactions. However, if observable market prices of identical or similar
equity or liability instruments are not available, the fair value shall be
estimated by using a valuation technique or model that complies with the
measurement objective, as described in FASB ASC Topic 718.

 Net Income (Loss)Per Common Share

 Net income (loss) per common share is computed pursuant to
section 260-10-45 of the FASB Accounting Standards Codification. Basic net
income (loss) per common share is computed by dividing net income (loss) by the
weighted average number of shares of common stock outstanding during the period.
Diluted net income (loss) per common share is computed by dividing net income
(loss) by the weighted average number of shares of common stock including all
potentially outstanding shares of common stock during the period, unless the
effect is anti-dilutive. There are no potentially dilutive shares as of December
31, 2024 or 2023.

 Recent Accounting Pronouncements

 The Company has implemented all new applicable accounting
pronouncements that are in effect and applicable. These pronouncements did not
have any material impact on the financial statements unless otherwise disclosed,
and the Company does not believe that there are any other new accounting
pronouncements that have been issued that might have a material impact on its
financial position or results of operations.

 Prepaid Expenses

 The Company records payments made in advance for goods
and services as prepaid expenses in accordance with the Financial Accounting Standards Board (FASB) Accounting Standards Codification
(ASC) 340, "Other Assets and Deferred Costs." Prepaid expenses primarily consist of payments for website services and fees,
which provide future economic benefits.

 Prepaid expenses are initially recorded at cost and
amortized over the applicable benefit period on a straight-line basis. The amortization of prepaid expenses is recognized as an expense
in the statement of operations over the period in which the related benefits are realized.

 The Company evaluates prepaid expenses for impairment
whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. If an impairment is identified,
the carrying value of the prepaid expense is adjusted accordingly.

 Significant judgments and estimates may be involved
in determining the amortization period, particularly when contracts do not explicitly define the service period. The Company reassesses
its prepaid balances periodically to ensure proper matching of expenses with the periods benefited.

 NOTE 3 - GOING CONCERN

 As reflected in the consolidated financial statements,
the Company has an accumulated deficit of $ 8,927,612 as of December 31, 2024,
has no current operations and has generated no income to date. These factors
raise substantial doubt about its ability to continue as a going concern. The
consolidated financial statements have been prepared assuming that the
Company will continue as a going concern. The Company may raise additional
capital through the sale of its equity securities, through offerings of debt
securities, or through borrowings from financial institutions. These
consolidated financial statements do not include any adjustments relating
to the recoverability and classification of recorded asset amounts or amounts
and classification of liabilities that might be necessary should the Company be
unable to continue as a going concern.

 NOTE 4 – RELATED PARTY TRANSACTIONS

 During the year ended December 31, 2024 and 2023, Dimitar
Slavchev Savov, CEO, advanced the Company $ 103,419 and $ 83,565, respectively, to
pay for general operating expenses. As of December 31, 2024, the total amount
due to Mr. Savov is $ 205,164. The advance in non-interest bearing and due on
demand.

 During the year ended December 31, 2024, Nika Pharmaceuticals
LTD, advanced the Company $ 34,000, to pay for general operating expenses. Nika
Pharmaceuticals LTD is incorporated in Bulgaria with UIC: 175420503 and is
wholly-owned and managed by CEO Dimitar Slavchev Savov. As of December 31, 2024,
the total amount due to Nika Pharmaceuticals LTD is $ 34,000. The advance in
non-interest bearing and due on demand.

 Exclusive Rights Agreements

 On April 7, 2022, the Company signed with "VITAL FE" Joint
Stock Company ("VITAL") an Exclusive Rights Agreement for a term of 15 years for
the production and distribution of Thymus Nuclear Glycoprotein ("TNG"). VITAL
holds the technology to manufacture TNG and the intellectual property for Phase
III Clinical Trial on TNG, started in 1997 and completed in 1998 in Infectious
Diseases Hospital, Sofia on 20 patients suffering from AIDS in the advanced
stages of the disease. The results of the clinical trial show that TNG has a
significant place in the treatment of HIV. Under the terms of the agreement the
Company issued 8,000,000 shares of Preferred stock to be issued in the name of
Dimitar Slavchev Savov. Dimitar Savov is Managing Director and owner of 70 %
stake in VITAL. The shares were valued based on the equivalent number of votes
for common shares. The 8,000,000,000 (8 billion) equivalent common shares were
valued at $ 0.0003, the last sale price for common shares, (as there is currently
no trading volume), for total non-cash expense of $ 2,400,000.

 On April 7, 2022, the Company signed with "MICAR 11" LTD. ("MICAR") an Exclusive Rights
Agreement for a term of 15 years for the production and distribution of two dietary supplements, namely Carotilen and Physiolong.
 Carotilen is a dietary supplement in the form of soft gelatin capsules that improves and regulates the metabolism of the epithelial
cells and protects them from degenerative alterations. It favorably affects embryonic development; the regulation of the growth and division
of the cells; stimulates the growth of the bone tissue; favorably affects the function of the gonads; increases and maintains high level
of the immune system. Physiolong is a dietary food supplement in the form of hard gelatin capsules, which serves as general stimulant
for those in a period of convalescence, as well as in situations of high mental and physical loads, and for the recovery in sports. Under
the terms of the agreement the Company issued 2,000,000
 shares of Preferred stock to be issued in the name of Dimitar Slavchev Savov. MICAR is wholly 100 % owned by Dimitar Savov
and he acts as its Managing Director. The shares were valued based on the equivalent number of votes for common shares. The 2,000,000,000
(2 billion) equivalent common shares were valued at $ 0.0003, the last sale price for common shares, (as there is currently no trading
volume), for total non-cash expense of $ 600,000.

 NOTE 5 - COMMON STOCK

 During the year ended December 31, 2024,
pursuant to the terms of the Merger with Nika BioTechnology, Inc (Note 1), the
Company issued 145,584,500 shares of common stock of the 204,205,027 shares to
be issued.

 NOTE 6 – PREFERRED STOCK

 On March 4, 2024, the Company amended its Articles of
Incorporation, in which the authorized Preferred Stock was increased to
 15,000,000 pursuant to the approved by the BOD and shareholders Plan and Merger
Agreement.

 As of December 31, 2024, pursuant to the terms of the Merger
with Nika BioTechnology, Inc (Note 1), the Company issued 5,000,000 shares of
preferred stock. Currently, there are 15,000,000 Preferred Stock issued and
outstanding.

 NOTE 7 – COMMON CONTROL MERGER

 On February 12, 2024, the Company signed an Agreement and Plan
of Merger (the "Merger") with Nika BioTechnology, Inc. Pursuant to the Merger
agreement Nika BioTechnology, Inc., (the Target company), was merged with and
into the Company, the separate corporate existence of the Target shall
cease, and the Company shall continue as the surviving consolidated entity. Nika
BioTechnology, Inc., owned a 40 % stake in Nika Europe, Ltd, which was
transferred to the Company pursuant to the merger, increasing the Company's
ownership to 80 %. The accounts and amounts included in the Company's
consolidated financial statements upon acquisition are as follows.

 Cash

 $

 Inventory

 $

 17,007

 Accruals

 $

 ( 3,833

)

 Due to related parties

 $

 ( 109,877

)

 Additional paid in capital

 $

 ( 5,388,284

)

 Accumulated deficit

 $

 5,464,629

 General and administrative
 expenses

 $

 20,036

 NOTE 8 – OTHER EVENTS

 On April 12, 2024, Nika Pharmaceuticals, Inc., through its
subsidiary Nika Europe Ltd., acquired four technologies, three of which are for
generic drugs and one for a dietary supplement. The technologies were purchased
from Alliance for Intellectual Property in the Field of Pharmacy, Chemistry,
and Biology ("AIPFPCB") for a total price of 75,000 BGN (equivalent to
around 42,491 USD) that was paid by Dimitar Slavchev Savov who is an officer and
director of Nika Pharmaceuticals, Inc. and the general manager of Nika Europe,
Ltd. With the trade names pending, the three technologies for drugs in tablet
form are scientifically named as MENTHYL VALERATE 0.06g, METAMIZOLE SODIUM
500mg, VINPOCETINE 10mg, with the dietary supplement named as TRIBULUS
TERRESTRIS HERBA EXTRACTUM SICCUM 250mg.

 On April 23, 2024, Nika Europe, Ltd. signed a Supply Agreement
with Shanghai Marya Pharmaceutical Engineering & Project Co., Ltd. for the
purchase, supply, and installation of a complete vial production line equipment
adhering to Good Manufacturing Practice (GMP) standards, costing $ 957,670.
Dimitar Savov has paid the initial down payment of $ 191,534 from his personal
money. The equipment is scheduled to be produced, delivered, and installed in
the Bulgarian production building by the end of Q4, 2024.

 Effective April 29, 2024, Nika Pharmaceuticals, Ltd., a limited
liability company registered in Bulgaria with UIC: 175420503, made a
non-monetary in-kind contribution of a production building and land to the
capital of Nika Europe, Ltd. The building and land were officially valued at
3,683,800 BGN ( 2,045,209) USD by three independent valuators appointed by the
Bulgarian Registry Agency. As a result, the capital of Nika Europe, Ltd. was
increased to 3,684,300 BGN. At the time of the transaction, Dimitar Savov owned
100% of Nika Pharmaceuticals, Ltd. and was the company's general manager.

 On April 29, 2024 pursuant to decision of the shareholders for
in-kind contribution of factory building and land the capital of Nika Europe,
Ltd. increased to 3,684,300 BGN ( 2,016,562) USD. Effective May 9, 2024 the
Company acquired 100 % of the share capital ot Nika Pharmaceuticals, Ltd. as
effect of this event the Company has a 99.99% controlling interest in Nika
Europe, Ltd. and becomes the beneficial owner of a factory building and land
valued at 3,683,800 BGN ( $ 2,016,562) USD, situated in a strategic location in
Sofia Province, which were originally purchased and renovated by Dimitar Savov
at his own personal expense.

 The accounts and amounts included in the Company's consolidated
financial statements upon acquisition are as follows.

 Cash

 $

 2,732

 Accounts receivable

 $

 196,394

 Other receivables

 $

 4,080

 Accounts payable

 $

 (4,638

)

 Due to related parties

 $

 (427,133

)

 Additional paid in capital

 $

 (2,791

)

 Accumulated deficit

 $

 (49,212

)

 General and administrative expenses

 $

 (39,210

)

 Effective May 6, 2024, the Company completed a voluntary symbol
change from NKPH to NIKA, and will trade its common stock under NIKA from
hereon.

 On August 18, 2024, based on recommendation of Clifford
Redekop, officer and director, the board of directors found it in the Nika
Pharmaceuticals Inc.'s best interest to cancel the acquisition of Nika
Pharmaceuticals, Ltd., UIC: 175420503 that was made effective on May 9, 2024 and
disclosed via Form 8-K on May 10, 2024. The procedure to return the 100 % to
Dimitar Slavchev Savov, who is an officer and director of Nika
Pharmaceluticals, Inc. and general manager of Nika Pharmaceuticals, Ltd., was
initiated on August 19, 2024 and was made effective on August 23, 2024,
resulting in Nika Pharmaceuticals, Ltd. no longer being a wholly owned
subsidiary of Nika Pharmaceuticals, Inc. As a result, Nika Pharmaceuticals, Inc.
no longer practically owns 99.99 % in Nika Europe, Ltd. and is no longer the
beneficial owner of the factory building and land disclosed in the
aforementioned Form 8-K dated May 10, 2024.

 On September 11, 2024, Nika Pharmaceuticals, Inc. signed a
 production agreement with Nika Europe, Ltd., under which Nika Europe will
 produce ITV-1 for an estimated framework price of $ 580 per set once the
 pharmaceuticals factory is completed. In this way, Nika Europe, Ltd. will
 organize and bear the costs of production for ITV-1, whilst Nika
 Pharmaceuiticals, Inc. will receive the same expected profit of around $ 1,120
per set that it has previously estimated.

 On December 9, 2024, Nika Pharmaceuticals, Inc.'s common stock
was uplisted to OTCQB where it is currently trading.

 NOTE 9 – INCOME TAX

 Deferred taxes are provided on a liability method whereby
deferred tax assets are recognized for deductible temporary differences and
operating loss and tax credit carry forwards and deferred tax liabilities are
recognized for taxable temporary differences. Temporary differences are the
differences between the reported amounts of assets and liabilities and their tax
bases. Deferred tax assets are reduced by a valuation allowance when, in the
opinion of management, it is more likely than not that some portion or all of
the deferred tax assets will not be realized. Deferred tax assets and
liabilities are adjusted for the effects of changes in tax laws and rates on the
date of enactment. The Company is using the U.S. federal income tax rate of 21 %.

 The provision for Federal income tax consists of the following
December 31:

 2024

 2023

 Federal income tax benefit attributable to:

 Current Operations

 $

 ( 23,445

)

 $

 ( 14,000

)

 Less: change in valuation allowance

 23,445

 14,000

 Net provision for Federal
 income taxes

 $

 —

 $

 —

 The cumulative tax effect at the expected rate of 21 % of
significant items comprising our net deferred tax amount is as follows:

 2024

 2023

 Deferred tax asset attributable to:

 Net operating loss carryover

 $

 ( 1,878,127

)

 $

 ( 714,000

)

 Less: valuation allowance

 1,878,127

 714,000

 Net deferred tax asset

 $

 —

 $

 —

 At December 31, 2024, the Company had net operating loss carry
forwards of approximately $ 1,878,127 maybe offset against future taxable income.
No tax benefit has been reported in the December 31, 2024 or 2023 financial statements since the potential tax benefit is
offset by a valuation allowance of the same amount.

 Due to the change in ownership provisions of the Tax Reform Act
of 1986, net operating loss carry forwards for Federal income tax reporting
purposes are subject to annual limitations. Should a change in ownership occur,
net operating loss carry forwards may be limited as to use in future years.

 ASC Topic 740 provides guidance on the accounting for
uncertainty in income taxes recognized in a company's financial statements.
Topic 740 requires a company to determine whether it is more likely than not
that a tax position will be sustained upon examination based upon the technical
merits of the position. If the more-likely-than-not threshold is met, a company
must measure the tax position to determine the amount to recognize in the
financial statements.

 The Company files income tax returns in the
U.S. federal jurisdiction, and various state and local jurisdictions.

 The Company includes interest and penalties arising from the
underpayment of income taxes in the statements of operations in the provision
for income taxes. As of December 31, 2024, the Company had no accrued interest
or penalties related to uncertain tax positions.

 NOTE 10 - SUBSEQUENT EVENTS

 Management has performed an evaluation of subsequent events
through the date that the financial statements were issued and has determined
that it has no material subsequent events to disclose in these consolidated
financial statements other than the following.

 In February 2025, 4,696,500 common stock issued pursuant to the
terms of the Merger with Nika BioTechnology, Inc.; (150,281,000 out of
204,205,027). As of March 10, 2025, the total outstanding common stock are
 1,026,371,000.

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

 On February 14, 2024, the Company
dismissed its independent accountant B F Borgers CPA PC and engaged the firm of
Fruci & Associates II, PLLC to serve as the independent accountant to audit
the company's financial statements.

 On August 21, 2024 Nika
Pharmaceuticals, Inc.'s independent accountant Fruci & Associates II, PLLC
tendered its resignation. The members of the board of directors have discussed
the issue with the former independent accountant, and Nika Pharmaceuticals, Inc.
has authorized the former independent accountant to respond fully to the
inquiries of the successor accountant concerning historical data.

 We have had no "disagreements"
(as such term is defined in Item 304 of Regulation S-K) with our Accountant on
any matter of accounting principles or practices, financial statement
disclosure, or auditing scope or procedures.

 On September 23, 2024, Nika
Pharmaceuticals, Inc. engaged the firm of OLAYINKA OYEBOLA & CO (Chartered
Accountants) to serve as the independent accountant to audit the company's
financial statements.

 On October 2, 2024, Nika
Pharmaceuticals, Inc. made a discovery, which led it to consider that it is in
the best interest not to continue its engagement of independent accountant
OLAYINKA OYEBOLA & CO (Chartered Accountants). No services had been
performed by OLAYINKA OYEBOLA & CO (Chartered Accountants) prior to the
termination of the engagement on October 2, 2024.

 On October 5, 2024, Nika
Pharmaceuticals, Inc. engaged the firm of Boladale Lawal & Co (Chartered
Accountants) to serve as the independent accountant to audit the company's
financial statements.

 ITEM 9A. CONTROLS AND PROCEDURES

 Evaluation of Disclosure Controls and Procedures

 Under the supervision and with
the participation of our management, including our chief executive officer and
principal financial officer, we conducted an evaluation of our disclosure
controls and procedures, as such term is defined under Rule 13a-15(e) and Rule
15d-15(e) promulgated under the Securities Exchange Act of 1934, as amended, as
of December 31, 2024. Based on this evaluation, our chief executive officer and
principal financial officer have concluded such controls and procedures to be
ineffective as of December 31, 2024, to ensure that information required to be
disclosed by the issuer in the reports that it files or submits under the Act is
recorded, processed, summarized and reported, within the time periods specified
in the Commission's rules and forms and to ensure that information required to
be disclosed by an issuer in the reports that it files or submits under the Act
is accumulated and communicated to the issuer's management, including its
principal executive and principal financial officers, or persons performing
similar functions, as appropriate to allow timely decisions regarding required
disclosure.

 Management's Annual Report on Internal Control over
Financial Reporting

 Management is responsible for
establishing and maintaining adequate internal control over financial reporting,
as such term is defined in Rules 13a-15 (f) and 15d- 15 (f) under the Exchange
Act, for the Company.

 Our internal control over
financial reporting is the process designed by and under the supervision of our
CEO and CFO, or the persons performing similar functions, to provide reasonable
assurance regarding the reliability of our financial reporting and the
preparation of our financial statements for external reporting in accordance
with accounting principles generally accepted in the United States of America.
In making this assessment, our management used the criteria set forth by the
Committee of Sponsoring Organizations of the Treadway Commission ("COSO") in
Internal Control – Integrated Framework (2013).

 Under the supervision and with
the participation of our CEO and CFO, or the persons performing similar
functions, our management has assessed the effectiveness of our internal control
over financial reporting as of December 31, 2024, and concluded that it is not
effective because of the material weakness described below:

 We are aware of the following
material weaknesses in internal control that could adversely affect the
Company's ability to record, process, summarize and report financial data:

 •

 Lack of an audit committee

 •

 Lack of segregation of duties

 A material weakness is a
significant deficiency in one or more of the internal control components that
alone or in the aggregate precludes our internal controls from reducing to an
appropriately low level the risk that material misstatements in our consolidated
financial statements will not be prevented or detected on a timely basis.

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

 Evaluation of Changes in Internal Control over Financial
Reporting

 During the year ended December
31, 2024 there were no changes in our internal control over financial reporting
identified in connection with the evaluation required by paragraph (d) of
Securities Exchange Act Rules 13a-15 or 15d-15 that have materially affected, or
are reasonably likely to materially affect, our internal control over financial
reporting. We intend to recruit additional professionals, as our business
conditions warrant, to ensure that we include all necessary disclosure in our
filings with the Securities and Exchange Commission. Although we believe that
these corrective steps will enable management to conclude that the internal
controls over our financial reporting are effective when the staff is in place
and trained, we cannot provide assurance that these steps will be sufficient. We
may be required to expend additional resources to identify, assess and correct
any additional weaknesses in internal control.

 Important Considerations

 The effectiveness of our
disclosure controls and procedures and our internal control over financial
reporting is subject to various inherent limitations, including cost
limitations, judgments used in decision making, assumptions about the likelihood
of future events, the soundness of our systems, the possibility of human error,
and the risk of fraud. Moreover, projections of any evaluation of effectiveness
to future periods are subject to the risk that controls may become inadequate
because of changes in conditions and the risk that the degree of compliance with
policies or procedures may deteriorate over time. Because of these limitations,
there can be no assurance that any system of disclosure controls and procedures
or internal control over financial reporting will be successful in preventing
all errors or fraud or in making all material information known in a timely
manner to the appropriate levels of management.

 ITEM 9B. OTHER INFORMATION

 None.

 ITEM 9C. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT
 PREVENT INSPECTIONS

 None.

 ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE
GOVERNANCE

Identity of
Officers and Directors
The following table sets forth the names,
ages, and titles of our executive officers and directors.

 Name

 Age

 Positions Held

 Since

 Dimitar Slavchev Savov

 President, CEO,
 CFO, Director

 April 1, 2022

 Clifford Redekop

 Secretary&
 Director

 April 1, 2022

 Dimitar Slavchev Savov,
Mr. Savov was born in Sofia, Bulgaria on March 03, 1958. Savov graduated at the
 Dimitar A. Tsenov Academy of Economics as a magister of economics with a
specialty in accounting and control with a minor in finance. During the
political changes of November 10, 1989, Mr. Savov started a private business by
creating the first private petrol company and in a time of crisis with a lack of
fuel, Mr. Savov created a chain of the first private and modern gas stations in
Bulgaria named Elpida 3. He brought the company to a highly competitive level
and practically saved Neftohim Burgas from bankruptcy and Bulgaria from a fuel
shortage. For the past 25 years, Mr. Savov has invested and developed projects
in the pharmaceutical field with the goal to provide medicine for treatment of
various life-threatening diseases including AIDS, Cancer and others.

 Clifford Redekop, Mr,
 Redekop has an honors liberal arts degree from Brock University and served
in the Canadian Navy for 12 years. His first five years in the Navy were as a
destroyer weapons officer and the remainder as a public affairs officer.
Postings and assignments were across Canada and in Germany, and with many
experiences as Defense Department spokesman for multiple casualties and
politically sensitive situations. Further education included graduate school
training in communications management and journalism. After leaving the Navy,
Redekop moved to Las Vegas, Nevada and became a commercial real estate
broker/investor/developer. Redekop is a licensed broker in Nevada and Utah.
Currently, and for the past six years, he has specialized in assisting companies
launch major expansions and in merging private businesses into public companies.
He has also worked with a number of Native American Tribes in assisting them to
bring economic development to their reservations.

 None of our directors or officers
are related to each other. There are no arrangements or understandings with any
of our principal stockholders, customers, suppliers, or any other person,
pursuant to which any of our directors or executive officers were appointed.

 Significant Employees

 We have no significant employees
other than our officers.

 Director or Officer Involvement in Certain Legal
Proceedings

 During the past five (5) years,
none of the following occurred with respect to one of our present or former
directors or executive officers: (1) any bankruptcy petition filed by or against
any business of which such person was a general partner or executive officer
either at the time of the bankruptcy or within two (2)
 years prior to that time; (2) any conviction in a criminal proceeding or
being subject to a pending criminal proceeding (excluding traffic violations and
other minor offenses); (3) being subject to any order, judgment or decree, not
subsequently reversed, suspended or vacated, of any court of any competent
jurisdiction, permanently or temporarily enjoining, barring, suspending or
otherwise limiting his involvement in any type of business, securities or
banking activities; and (4) being found by a court of competent jurisdiction (in
a civil action), the Securities and Exchange Commission or the Commodities
Futures Trading Commission to have violated a federal or state securities or
commodities law, and the judgment has not been reversed, suspended, or vacated.

 Director Independence

 We are not at this time required
to have our board comprised of a majority of "independent directors" as we are
not subject to the listing requirements of any national securities exchange or
association,

 Section 16(a) Beneficial Ownership Reporting Compliance

 Section 16(a) of the Exchange Act
requires a company's directors, officers, and stockholders who beneficially own
more than 10% of any class of equity securities of the Company registered
pursuant to Section 12 of the Exchange Act (collectively referred to herein as
the "Reporting Persons"), to file initial statements of beneficial ownership of
securities and statements of changes in beneficial ownership of securities with
respect to the company's equity securities with the SEC. All Reporting Persons
are required by SEC regulation to furnish us with copies of all reports that
such Reporting Persons file with the SEC pursuant to Section 16(a).

 Based solely on review of the copies of such forms furnished to
Nika Pharmaceuticals' directors have not filed their reports as of the date of
this Annual Report.

 Code of Ethics

 We have not yet adopted a code of
ethics that applies to our principal executive officer, principal financial
officer, principal accounting officer or controller or persons performing
similar functions.

 Corporate Governance

 There have been no changes in any state law or other procedures
by which security holders may recommend nominees to our board of directors. In
addition to having no nominating committee for this purpose, we currently have
no specific audit committee and no audit committee financial expert. Based on
the fact that our current business affairs are simple, any such committees are
excessive and beyond the scope of our business and needs.

 Audit Committee and Audit Committee Financial Expert

 We do not currently have an audit
committee financial expert, nor do we have an audit committee. Our board of
directors, handles the functions that would otherwise be handled by an audit
committee. We do not currently have the capital resources to pay director fees
to a qualified independent expert who would be willing to serve on our board and
who would be willing to act as an audit committee financial expert. As our
business expands and as we appoint others to our board of directors, we expect
that we will seek a qualified independent expert to become a member of our board
of directors. Before retaining any such expert our board would make a
determination as to whether such person is independent.

 ITEM 11, EXECUTIVE COMPENSATION

 Summary Compensation Table

 Change in

 Non-

 Pensions

 Equity

 Value and

 Incentive

 Nonqualifie

 Plan

 d Deferred

 All

 Name and

 Stock

 Option

 Compen

 Compensati

 Other

 Principal

 Salary

 Bonus

 Awards

 Awards

 sation

 on Earnings

 Compens

 Total

 Position

 Year

 ($)

 ($)

 ($)

 ($)

 ($)

 ($)

 ation ($)

 ($)

 (a)

 (b)

 (c)

 (d)

 (e)

 (f)

 (g)

 (h)

 (i)

 (j)

 Dimitar

 Slavchev

 2024

 —

 —

 —

 —

 —

 —

 —

 —

 Savov (CEO,

 Director)

 2023

 —

 —

 —

 —

 —

 —

 —

 —

 Clifford

 Redekop

 2024

 —

 —

 —

 —

 —

 —

 —

 —

 (corporate

 secretary)

 2023

 —

 —

 —

 —

 —

 —

 —

 —

 No officer or director of the
Company has received any compensation in 2024 or 2023.

 Our directors and officers do not
have unexercised options, stock that has not vested, or equity incentive plan
awards.

 We do not currently have a stock
option plan. No individual grants of stock options, whether or not in tandem
with stock appreciation rights known as SARs or freestanding SARs have been made
to any executive officer or any director since our inception; accordingly, no
stock options have been granted or exercised by any of the officers or directors
since inception.

 We do not have any long-term
incentive plans that provide compensation intended to serve as incentive for
performance. No individual grants or agreements regarding future payouts under
non-stock price-based plans have been made to any executive officer or any
director or any employee or consultant since our inception; accordingly, no
future payouts under non-stock price-based plans or agreements have been granted
or entered into or exercised by our officer or director or employees or
consultants since inception.

 To the knowledge of management,
during the past five years, no present or former director, or executive officer
of the Company:

 1. Has filed a petition under the federal bankruptcy laws or
any state insolvency law, nor had a receiver, fiscal agent or similar officer
appointed by a court for the business or property of such person, or any
partnership in which he or she was a general partner at or within two years
before the time of such filing, or any corporation or business association of
which he or she was an executive officer at or within two years before the time
of such filing;

 2. Was convicted in a criminal proceeding or named subject
of a pending criminal proceeding (excluding traffic violations and other minor
offenses);

 3. Was the subject of any order, judgment or decree, not
subsequently reversed, suspended or vacated, of any court of competent
jurisdiction, permanently or temporarily enjoining him from or otherwise
limiting, the following activities:

 i. Acting as a futures commission merchant,
 introducing broker, commodity trading advisor, commodity pool operator,
 floor broker, leverage transaction merchant, associated person of any of
 the foregoing, or as an investment advisor, underwriter, broker or dealer
 in securities, or as an affiliate person, director or employee of any
 investment company, or engaging in or continuing any conduct or practice
in connection with such activity;

 ii. Engaging in any type of business practice;

 iii. Engaging in any activity in connection
with the purchase or sale of any security or commodity or in

 4. Was the subject of any order, judgment, or decree, not subsequently reversed, suspended, or vacated, of any federal or state authority barring, suspending, or otherwise limiting for more than 60 days the right of such person to engage in any such activity

 5. Was found by a court of competent jurisdiction in a civil action or by the Securities and Exchange Commission to have violated any federal or state securities law, and the judgment in such civil action or finding by the Securities and Exchange Commission has not been subsequently reversed, suspended, or vacated.

 6. Was found by a court of
 competent jurisdiction in a civil action or by the Commodity Futures Trading
 Commission to have violated any federal commodities law, and the judgment in
 such civil action or finding by the Commodity Futures Trading Commission has not
 been subsequently reversed, suspended or vacated.

 Director Compensation

 We do not currently pay any
compensation to our directors, nor do we pay directors' expenses in attending
board meetings.

 Employment Agreements

 The Company is not a party to any employment agreements.

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

 The following table sets forth,
as of December 31, 2024, the number and percentage of our outstanding shares of
common stock owned by (i) each person known to us to beneficially own more than
5% of our outstanding common stock, (ii) each director, (iii) each named
executive officer, and (iv) all officers and directors as a group. Common stock
beneficially owned and percentage ownership was based on 1,021,674,500 shares
outstanding on December 31, 2024.

 Shares of

 Percent of

 Percent of

 Series A

 Series A

 Number of

 Percent of

 Shares of

 Common

 Preferred

 Preferred

 Voting

 Voting

 Common

 Stock

 Stock

 Stock

 Shares

 Shares

 Stock Beneficially

 Beneficially

 Beneficially Beneficially

 Beneficially

 Beneficially

 Name of
 Beneficial Owner

 Owned**

 Owned (1) **

 Owned

 Owned**

 Owned**

 Owned (1) **

 5% Beneficial Owners

 ACFT LLC

 150,000,000

 14.68%

 —

 —

 —

 —

 Mariya S Radivoeva

 94,500,000

 9.25%

 —

 —

 —

 —

 Noble Investment Corp

 154,500,000

 15.12 %

 —

 —

 —

 —

 Kubrat Radivoev

 75,000,000

 7.34%

 —

 —

 —

 —

 Directors and Officers

 Dimitar Slavchev Savov

 457,739,500

 44.80%

 15,000,000

 100%

 150,000,000

 51.87%

 Clifford Redekop

 —

 —

 —

 —

 —

 —

 **

 Under SEC rules, beneficial ownership includes
 shares over which the individual or entity has voting or investment power
 and any shares which the individual or entity has the right to acquire
 within sixty days.

 (1)

 Percentage of voting stock is based on
 1,021,674,500 shares of our common stock and 15,000,000 shares of Series A
 Preferred Stock outstanding on December 31, 2024.

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

 The following information
summarizes transactions we have either engaged in for the past two fiscal years
or propose to engage in, involving our executive officers, directors, more than
5% stockholders, or immediate family members of these persons. These
transactions were negotiated between related parties without "arm's length"
bargaining and, as a result, the terms of these transactions may be different
than transactions negotiated between unrelated persons.

 During the year ended December 31, 2024 and 2023, Dimitar
Slavchev Savov, CEO, advanced the Company $103,419 and $83,565, respectively, to
pay for general operating expenses. As of December 31, 2024, the total amount
due to Mr. Savov is $205,164. The advance in non-interest bearing and due on
demand.

 During the year ended December 31, 2024, Nika Pharmaceuticals
LTD, advanced the Company $34,000, to pay for general operating expenses. As of
December 31, 2024, the total amount due to Nika Pharmaceuticals LTD is $34,000.
The advance in non-interest bearing and due on demand.

 On April 12, 2024, Nika Pharmaceuticals, Inc., through its
subsidiary Nika Europe Ltd., acquired four technologies, three of which are for
generic drugs and one for a dietary supplement. The technologies were purchased
from Alliance for Intellectual Property in the Field of Pharmacy, Chemistry,
and Biology ("AIPFPCB") for a total price of 75,000 BGN (equivalent to
around 42,491 USD) that was paid by Dimitar Slavchev Savov who is an officer and
director of Nika Pharmaceuticals, Inc. and the general manager of Nika Europe,
Ltd. With the trade names pending, the three technologies for drugs in tablet
form are scientifically named as MENTHYL VALERATE 0.06g, METAMIZOLE SODIUM
500mg, VINPOCETINE 10mg, with the dietary supplement named as TRIBULUS
TERRESTRIS HERBA EXTRACTUM SICCUM 250mg.

 Effective April 29, 2024, Nika Pharmaceuticals, Ltd., a limited
liability company registered in Bulgaria with UIC: 175420503, made a
non-monetary in-kind contribution of a production building and land to the
capital of Nika Europe, Ltd. The building and land were officially valued at
3,683,800 BGN (2,045,209) USD by three independent valuators appointed by the
Bulgarian Registry Agency. As a result, the capital of Nika Europe, Ltd. was
increased to 3,684,300 BGN. At the time of the transaction, Dimitar Savov owned
100% of Nika Pharmaceuticals, Ltd. and was the company's general manager.

 On April 29, 2024 pursuant to decision of the shareholders for
in-kind contribution of factory building and land the capital of Nika Europe,
Ltd. increased to 3,684,300 BGN (2,016,562) USD. Effective May 9, 2024 the
Company acquired 100% of the share capital ot Nika Pharmaceuticals, Ltd. as
effect of this event the Company has a 99.99% controlling interest in Nika
Europe, Ltd. and becomes the beneficial owner of a factory building and land
valued at 3,683,800 BGN ($2,016,562) USD, situated in a strategic location in
Sofia Province, which were originally purchased and renovated by Dimitar Savov
at his own personal expense.

 On August 18, 2024, based on recommendation of Clifford
Redekop, officer and director, the board of directors found it in the Nika
Pharmaceuticals Inc.'s best interest to cancel the acquisition of Nika
Pharmaceuticals, Ltd., UIC: 175420503 that was made effective on May 9, 2024 and
disclosed via Form 8-K on May 10, 2024. The procedure to return the 100% to
Dimitar Slavchev Savov, who is an officer and director of Nika Pharmaceluticals,
Inc. and general manager of Nika Pharmaceuticals, Ltd., was initiated on August
19, 2024 and was made effective on August 23, 2024, resulting in Nika
Pharmaceuticals, Ltd. no longer being a wholly owned subsidiary of Nika
Pharmaceuticals, Inc. As a result, Nika Pharmaceuticals, Inc. no longer
practically owns 99.99% in Nika Europe, Ltd. and is no longer the beneficial
owner of the factory building and land disclosed in the aforementioned Form 8-K
dated May 10, 2024.

 ITEM 14. PRINCIPAL ACCOUNTANT FEES AND SERVICES

 Audit Fees

 The following table presents the
aggregate fees billed for each of the last two fiscal years in connection with
the audit of our consolidated financial statements and other professional
services rendered by this accounting firm.

 2024

 2023

 Audit fees

 $

 4,000

 $

 —

 Audit related fees

 —

 —

 Tax fees

 —

 —

 All other fees

 —

 —

 Total fees

 $

 4,000

 $

 —

 Audit fees represent fees for
professional services rendered by our principal accountants for the audit of our
annual financial statements and review of the financial statements included in
our Forms 10-Q or services that are normally provided by our principal
accountants in connection with statutory and regulatory filings or engagements.

 Audit-related fees represent
professional services rendered for assurance and related services by the
accounting firm that are reasonably related to the performance of the audit or
review of our financial statements that are not reported under audit fees.

 Tax fees represent professional
services rendered by the accounting firm for tax compliance, tax advice, and tax
planning.

 All other fees represent fees
billed for products and services provided by the accounting firm, other than the
services reported for the other three categories.

 Pre-Approval Policies

 Our board of directors approves
the engagement of the auditor before the firm renders audit and non-audit
services. Our audit committee does not rely on pre-approval policies and
procedures.

 ITEM 15. EXHIBITS AND FINANCIAL STATEMENT
SCHEDULES

 The following documents have been
filed as part of this report.

 Exhibit No.

 Description

 31.1

 -

 Rule
 13a14(a)/15d -14(a) Certification of Chief Executive Officer and
 Chief Financial Officer

 32.1

 -

 Section 1350 Certification of Chief
 Executive Officer and Chief Financial Officer

 101.INS*

 -

 Document(1)

 101.SCH*

 -

 Document(1)

 101.SCH*

 -

 Schema Document(1)

 101.CAL*

 -

 Calculation Linkbase Document(1)

 101.DEF*

 -

 Extension Definition Linkbase Document(1)

 101.LAB*

 -

 Linkbase Document(1)

 ITEM 16. 10-K SUMMARY

 None.

 Signatures

 Pursuant to the requirements of Section 13(a) or 15(d) of the
Securities Exchange Act of 1934, the Registrant has duly caused this report to
be signed on its behalf by the undersigned, thereunto duly authorized.

 Nika Pharmaceuticals, Inc.

 Date: March 31, 2025

 By:

 /s/
 Dimitar Slavchev Savov

 Dimitar Slavchev Savov

 Chief Executive Officer, Director

 Date: March 31, 2025

 By:

 /s/ Clifford Redekop

 Clifford Redekop

 Director