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Happy ReLeaf Ltd

Exhibit C: Additional Information The following list is a summary of activities for HRLs Quarter Ended January 31, 2020:

1. In-store sales for the quarter ending January 31, 2020 (Q1) total $195,576. Customers who require products for medicinal purposes are pre-approved and can buy on account. During Q1, 2% of the total in-store sales are on account.

2. Online sales for Q1 were an additional $29,336. All online sales were paid in full online and received the 3% discount.

3. The cost of goods sold is for all sales is 55% of the selling price.

4. Sales returns for Q1 amounted to $3,320 and were on cash sales only.

5. The company purchased inventory in Q1 for $135,000. HRL paid $100,000 cash and the remainder on account.

6. HRL conducted a physical inventory count on January 31, 2020. There was $215,759 of inventory on hand on that date.

7. An online marketing campaign for Q1 has ended. The company paid for this campaign in September, 2019 and the $4,000 related to this campaign is part of the prepaid expense balance the October 31, 2019 statement of financial position.

8. HRL received a bill on January 22, 2020, for $3,500 in legal services performed in Q1. They will pay the bill in February, 2020.

9. On January 1, 2020, the company borrowed $20,000 cash from the bank at 5% for a 5-year term. Interest is paid on the first day of each month beginning February 1 and the principal is due at the end of the 5-year term. HRL will use these funds to improve the retail stores appearance.

10. The company used the loan obtained in Item 9 to purchase a new refrigerator for the new edible inventory products. The refrigerator cost $15,000 and was delivered to HRLs location on January 1, 2020 and immediately placed into use. The refrigerator is estimated to last 3 years and has no residual value. The company uses the straight-line method to depreciation their equipment.

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Management fees General and administrative Salaries Equipment rental Supplies

13. The current portion of HRLs Note Payable is $7,700.

$ 13,850 $ 11,155 $ 9,260 $ 1,778 $ 1,200

Happy ReLeaf Ltd

11. Depreciation expense on HRLs existing property and equipment is $2,000 for Q1.

12. William, the controller, provided his spreadsheet summarizing all cash payments made in Q1:

14. Online sales totaling $12,000 still require age verification. The company records these online orders as sales for the quarter. These sales are already included in the sales described in point #2 above.

15. HRL has an income tax rate of 35%. The company will make its first quarterly payment at the end of February 2020 based on their Q1 income before income tax.