Exhibit 99.1

VISIONARY EDUCATION TECHNOLOGY HOLDINGS GROUP INC.

INTERIM CONSOLIDATED BALANCE SHEETS

(UNAUDITED)

(IN U.S. DOLLARS)

	September 30,			March 31,
	2022			2022
ASSETS
CURRENT ASSETS
Cash	$	222,073		$	741,868
Short-term investments		51,072			56,021
Accounts receivable, net		23,419			1,653
Prepaid and other receivable		312,550			179,647
Due from related parties		301,160			432,676
Loan receivable - current		–			131,036
Total current assets		910,274			1,542,901
Restricted cash – non-current		638,624			67,821
Property, plant and equipment, net		89,299,162			23,240,470
Right of use assets		778,231			958,477
Intangible assets, net		986,470			1,082,061
Acquisition deposits		410,000			7,364,241
Goodwill		939,372			1,030,399
Deferred offering cost		–			940,214
TOTAL ASSETS	$	93,962,133		$	36,226,584
LIABILITIES AND EQUITY
CURRENT LIABILITIES
Accounts payable	$	327,250		$	278,544
Accrued liabilities		2,599,661			1,465,318
Other tax payable		507,867			1,435,045
Due to related parties		10,573,269			7,219,022
Deferred revenue		496,937			532,520
Lease liability - current		194,516			211,600
Bank loans - current		629,512			542,264
Convertible notes		1,140,063			–
Derivative liability - current		443,208			–
Income tax payable		1,594,912			1,598,153
Total current liabilities		18,507,195			13,282,466
Deferred tax liabilities		222,227			243,762
Lease liability, non-current		583,715			746,877
Bank loans, non-current		59,886,557			18,278,316
Derivative liability, non-current		1,314,333			–
TOTAL LIABILITIES		80,514,027			32,551,421
Commitments
EQUITY
Common shares, no par value, unlimited shares authorized, 39,250,000 and 35,000,000 issued and outstanding as of September 30, 2022 and March 31, 2022, respectively*		–			–
Additional paid-in capital		14,427,877			665,985
(Deficits) retained earnings		(133,266	)		2,587,747
Accumulated other comprehensive (loss) income		(940,114	)		185,179
Total shareholders’ equity attributable to the Company		13,354,497			3,438,911
Noncontrolling interest		93,609			236,252
Total shareholders’ equity		13,448,106			3,675,163
TOTAL LIABILITIES AND EQUITY	$	93,962,133		$	36,226,584

* Retroactively restated for effect of recapitalization

1

VISIONARY EDUCATION TECHNOLOGY HOLDINGS GROUP INC.

INTERIM CONSOLIDATED STATEMENTS OF INCOME

(UNAUDITED)

AND COMPREHENSIVE INCOME

(IN U.S. DOLLARS)

	For the Six Months Ended September 30,
	2022			2021
Revenue – rent	$	1,339,546		$	1,169,842
Revenue – tuition		524,944			360,124
Revenue – construction		–			6,378
Revenue – sales of land		–			1,702,280
Total Revenues		1,864,490			3,238,624
Cost of revenue – rent		675,438			564,596
Cost of revenue – tuition		155,729			181,592
Cost of revenue – sales of land		–			739,376
Total cost of revenues		831,167			1,485,564
Gross Profit		1,033,323			1,753,060
Operating expenses:
General and administrative expenses		661,418			141,698
Professional fees		310,603			265,749
Salaries		807,334			470,589
Total operating expenses		1,779,355			878,036
(Loss) income from operations		(746,032	)		875,024
Other (expense) income
Interest expense		(506,036	)		(416,003	)
Government subsidies		84,258			440,984
Loss on derivative liabilities valuation		(1,536,419	)		–
Other income		28,155			–
Total other (expense) income, net		(1,930,042	)		24,981
(Loss) income before income taxes		(2,676,074	)		900,005
Provision for income taxes - current		(99,169	)		(261,657	)
Net (loss) income		(2,775,243	)		638,348
Less: net loss (income) attributable to noncontrolling interest		54,230			(46,457	)
Net (loss) income attributable to Visionary Education Technology Holdings Group		(2,721,013	)		591,891
Other comprehensive (loss) income:
Foreign currency translation loss		(1,145,693	)		(61,280	)
Comprehensive (loss) income		(3,920,936	)		577,068
Less: comprehensive loss (income) attributable to noncontrolling interest		74,630			(43,446	)
Comprehensive (loss) income attributable to Visionary Education Technology Holdings Group	$	(3,846,306	)	$	533,622
(Loss)Earnings Per share
Basic and diluted	$	(0.07	)	$	0.02
Weighted Average Shares Outstanding*
Basic and diluted		38,112,022			35,000,000

* Retroactively restated for effect of recapitalization

2