Form 10-K Slinger Bag Inc. For: Apr 30

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UNITED
STATES

SECURITIES
AND EXCHANGE COMMISSION

Washington,
D.C. 20549

FORM
10-Okay

(Mark
One)

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

For
the fiscal 12 months ended April 30, 2021

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

For
the transition interval from _____________ to _____________

Fee
File Quantity: 333-214463

SLINGER
BAG INC.

(Actual
identify of registrant as laid out in its constitution)

Nevada

61-1789640(State
or different jurisdiction of
incorporation
or group)

(I.R.S.
Employer
Identification
No.)

2709
NORTH ROLLING ROAD, SUITE 138

WINDSOR
MILL

MARYLAND
21244

(Tackle
of principal govt workplaces, together with Zip Code)

(443)
407-7564

(Registrant’s
Phone Quantity, together with Space Code)

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

Securities
registered pursuant to Part 12(g) of the Act: None

Point out
by verify mark if the registrant is a widely known seasoned issuer, as outlined in Rule 405 of the Securities Act. Sure [ ] No
[X]

Point out
by verify mark if the registrant will not be required to file reviews pursuant to Part 13 or Part 15(d) of the Act. Sure [X] No
[ ]

Point out
by verify mark whether or not the registrant (1) has filed all reviews required to be filed by Part 13 or 15(d) of the Securities Change
Act of 1934 throughout the previous 12 months (or for such shorter interval that the registrant was required to file such reviews), and (2)
has been topic to such submitting necessities for the previous 90 days. Sure [X] No [ ]

The
registrant is a voluntary filer of reviews underneath Part 13 or 15(d) of the Securities Change Act of 1934 and has filed throughout the
previous 12 months all reviews it could have been required to file by Part 13 or 15(d) of the Securities Change Act of 1934 if
the registrant had been topic to one in all such Sections.

Point out
by verify mark whether or not the registrant has submitted electronically each Interactive Knowledge File required to be submitted pursuant to Rule
405 of Regulation S-T (§232.405 of this chapter) throughout the previous 12 months (or for such shorter interval that the registrant
was required to submit such recordsdata). Sure [X] No [ ]

Point out
by verify mark whether or not the registrant is a big accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting
firm, or an rising progress firm. See the definitions of “massive accelerated filer,” “accelerated filer,”
“smaller reporting firm,” and “rising progress firm” in Rule 12b-2 of the Change Act.

Massive
accelerated filer [  ]
Accelerated
filer [  ]Non-accelerated
filer [  ]
Smaller
reporting firm [X]
Rising
progress firm [X]

If
an rising progress firm, point out by verify mark if the registrant has elected to not use the prolonged transition interval for complying
with any new or revised monetary accounting requirements offered pursuant to Part 13(a) of the Change Act. [ ]

Point out by
verify mark whether or not the registrant has filed a report on and attestation to its administration’s evaluation of the effectiveness of
its inside management over monetary reporting underneath Part 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public
accounting agency that ready or issued its audit report. [ ]

Point out
by verify mark whether or not the registrant is a shell firm (as outlined in Rule 12b-2 of the Change Act). Sure [ ] No [X]

The
combination market worth of the frequent fairness voting shares of the registrant held by non-affiliates on October 31, 2020, the registrant’s
most not too long ago accomplished second fiscal quarter, was roughly $28,206,297.

The
variety of shares excellent of the registrant’s Frequent Inventory, $0.001 par worth per share, as of July 31, 2021, was 29,979,573.

CAUTIONARY
STATEMENT REGARDING FORWARD LOOKING INFORMATION

This
report incorporates forward-looking statements inside the which means of Part 27A of the Securities Act of 1933 and Part 21E of the Securities
Change Act of 1934. The phrases “imagine,” “count on,” “anticipate,” “intend,” “estimate,”
“might,” “ought to,” “might,” “will,” “plan,” “future,” “proceed,”
and different expressions which are predictions of or point out future occasions and developments and that don’t relate to historic issues establish
forward-looking statements. These forward-looking statements are primarily based largely on our expectations or forecasts of future occasions, can
be affected by inaccurate assumptions, and are topic to varied enterprise dangers and recognized and unknown uncertainties, numerous which
are past our management. Subsequently, precise outcomes might differ materially from the forward-looking statements contained on this doc,
and readers are cautioned to not place undue reliance on such forward-looking statements. We undertake no obligation to publicly replace
or revise any forward-looking statements, whether or not on account of new data, future occasions or in any other case. All kinds of things
might trigger or contribute to such variations and will adversely influence revenues, profitability, money flows and capital wants. There
could be no assurance that the forward-looking statements contained on this doc will, in actual fact, transpire or show to be correct.
These statements are solely predictions and contain recognized and unknown dangers, uncertainties and different elements, together with the dangers within the
part entitled “Threat Elements” which will trigger our or our trade’s precise outcomes, ranges of exercise, efficiency
or achievements to be materially completely different from any future outcomes, ranges of exercise, efficiency or achievements expressed or implied
by any forward-looking statements.

Vital
elements which will trigger the precise outcomes to vary from the forward-looking statements, projections or different expectations embody, however
will not be restricted to, the next:

●
threat
that we will be unable to remediate recognized materials weaknesses in our inside management over monetary reporting and disclosure
controls and procedures;


●
threat
that we fail to fulfill the necessities of the agreements underneath which we acquired our enterprise pursuits, together with any money funds
to the enterprise operations, which might outcome within the lack of our proper to proceed to function or develop the precise companies
described within the agreements;


●
threat
that we’ll be unable to safe further financing within the close to future to be able to start and maintain our deliberate improvement
and progress plans;


●
threat
that we can’t appeal to, retain and encourage certified personnel, notably workers, consultants and contractors for our operations;


●
dangers
and uncertainties regarding the varied industries and operations we’re at present engaged in;


●
outcomes
of preliminary feasibility, pre-feasibility and feasibility research, and the likelihood that future progress, improvement or growth
won’t be per our expectations;


●
dangers
associated to the inherent uncertainty of enterprise operations together with revenue, value of products, manufacturing prices and value estimates and
the potential for sudden prices and bills;


●
dangers
associated to commodity worth fluctuations;


●
the
uncertainty of profitability primarily based upon our historical past of losses;


●
dangers
associated to failure to acquire enough financing on a well timed foundation and on acceptable phrases for our deliberate improvement initiatives;


●
dangers
associated to environmental regulation and legal responsibility;


●
dangers
associated to tax assessments;


●

different
dangers and uncertainties associated to our prospects, properties and enterprise technique.

Though
we imagine that the expectations mirrored within the forward-looking statements are affordable, we can’t assure future outcomes, ranges
of exercise, efficiency or achievements. You shouldn’t place undue reliance on these forward-looking statements, which converse solely as
of the date of this report. Besides as required by legislation, we don’t undertake to replace or revise any of the forward-looking statements
to adapt these statements to precise outcomes, whether or not on account of new data, future occasions or in any other case.

As
used on this report, the “Firm,” “we,” “us,” or “our” consult with Singer Bag Inc., except
in any other case indicated.

SLINGER
BAG INC. (FORMERLY KNOWN AS LAZEX INC.)

SLINGER
BAG INC.

Annual
Report on Type 10-Okay for the

Fiscal
Yr Ended April 30, 2021

The
following evaluation of our monetary situation and outcomes of operations ought to be learn along with our monetary statements and
the associated notes thereto contained elsewhere on this Type 10-Okay, in addition to the danger elements included on this Type 10-Okay.

PART
I

ITEM
1. Enterprise

Historical past
of our Firm

Lazex
Inc. (the “Firm” or “Slinger”), was shaped on July 12, 2015 as a Nevada company. From its inception till
September 13, 2019, the Firm was within the enterprise of offering journey consulting and tour information
providers. On September 16, 2019, Slinger Bag Americas Inc. (“Slinger Bag Americas”) acquired
20,000,000 shares of the Firm’s frequent inventory from its then shareholders. On September 16, 2019, the Firm acquired
100% of the excellent shares of Slinger Bag Americas when the then proprietor of Slinger Bag Americas contributed her shares of Slinger
Bag Americas to the Firm in trade for 20,000,000 shares of the Firm. The results of the foregoing transactions is that Slinger
Bag Americas grew to become a wholly-owned subsidiary of the Firm. From September 16, 2019 and onward, the Firm ceased its efficiency
of journey consulting and tour information providers and has switched its focus to the event of the applied sciences and merchandise owned by
Slinger Bag Americas and its associates.

On
February 10, 2020, Slinger Bag Americas acquired a 100% possession stake in Slinger Bag Ltd (“SBL”). SBL owns the mental
property rights pertaining to the Slinger Launcher (described extra totally under) and was accountable for the Kickstarter marketing campaign described
extra totally under.

On
February 25, 2020, the Firm elevated the variety of licensed shares of Frequent Inventory from 75,000,000
to 300,000,000 and effected a 4-1 ahead cut up of its excellent shares of frequent inventory. Approval of the Firm’s stockholders
was not required to be obtained, as licensed by Nevada Revised Statute Part 78.207, et seq. The ahead cut up grew to become efficient on
February 25, 2020. On account of the ahead inventory cut up, every share of the Firm’s frequent inventory excellent has been cut up
into 4 shares of the Firm’s frequent inventory. All references on this report back to numbers of shares replicate the Firm’s
4-1 ahead cut up.

By
its possession of Slinger Bag Americas and SBL, Slinger is the proprietor of the Slinger Launcher and is targeted on the Ball Sport Market globally.
Slinger has developed and patented a extremely transportable and reasonably priced ball launcher constructed into a simple to move wheeled trolley bag
(the “Slinger Launcher”). The Slinger Launcher permits anybody to easily and simply management the pace, frequency and elevation
of balls which are launched for apply, coaching or health functions.

Slinger
has initially targeted all its energies on the Tennis market worldwide, however is within the early phases of creating ball launchers for different
ball sports activities.

For
the common tennis participant, the Slinger Launcher is rather more than a tennis ball launcher. It additionally features as a whole tennis bag
with ample room for racquets, sneakers, towels, water bottles and different equipment and might cost cell phones and different units.

Tennis
Ball machines have been round for the reason that 1950’s after they have been launched by Renne Lacoste. Enhancements to efficiency have been made
within the 1970’s when Prince began its tennis enterprise on the again of its first product – Little Prince – which was
a vacuum operated ball machine. Within the 1990’s the primary battery operated machines got here to the market and since that point little or no,
if something, has modified within the construction of ball machines merchandise exterior of added computerization. Sometimes, the machines being marketed
by conventional ball machine manufacturers are massive, cumbersome and awkward to function. They’re additionally very costly – typically effectively above
U.S. $1,000. Up till in the present day 99% of all tennis ball machines have offered to tennis services, with only some being offered on to tennis
enjoying customers.

In accordance
to the Tennis Business Affiliation (www.tia.org) the one largest problem going through tennis participation is the truth that 34% of lapsed
gamers cited a “lack of a enjoying companion” as the explanation for them stopping enjoying tennis. The Slinger Launcher goes a protracted
method to fixing this challenge.

The
world tennis market is regarded by trade consultants, governing organizations, Tennis manufacturers and tennis-specific market analysis firms
as having 100 million lively gamers globally, with as many customers once more being avid followers of the game. Of this 100 million tennis
participant market, 20 million gamers are considered frequent or avid gamers – gamers who play often – at the least 1 time monthly.
These avid gamers drive the entire tennis trade and account for 80% of all tennis revenues worldwide.

It
is that this avid participant market that Slinger is targeted on penetrating with its Slinger Launcher and related tennis equipment.

Slinger
intends to disrupt this conventional tennis market by creating a brand new ball machine class – known as Slinger Launcher – and
advertising transportable and reasonably priced Slinger Launchers on to avid, common tennis gamers. Constructed inside a wheeled trolley tennis
bag, a Slinger Launcher weighs round 15kgs / 34lbs when empty. If saved with 72 balls inside the load will increase to 19kgs / 42lbs.
It might simply be saved in a automobile trunk, wheeled to the courtroom and arrange inside minutes to make use of. The Slinger Launcher is powered by a 6.6Ah
Lithium battery that may last as long as 3.5 hours of play relying on the settings getting used and on frequency of use. Slinger Launcher’s
comfort as a tennis bag mixed with its ease of operation and total efficiency as a tennis ball launcher is the premise that the
Firm will goal direct gross sales to those avid gamers.

Whereas
the preliminary model focus is clearly on tennis, Slinger is creating related launchers to deal with different types of tennis across the globe
which are both quickly gaining new members or are already well-established sports activities in their very own proper. These embody, however will not be
restricted to, Pickleball (USA), Smooth Tennis (Japan), Squash (Worldwide Markets) and Paddle Tennis (Worldwide markets) all of which
are at present in both improvement or testing and deliberate for introduction in calendar 2022.

On
December 3, 2020, Slinger signed an unique settlement with Flixsense Pty Restricted d/b/a Gameface for the event of a tennis particular
synthetic intelligence (AI) utility. Slinger intends to introduce a market disrupting tennis app for gamers of all ages and skills.
This app will present a variety of analytics and different providers and embody apply and tennis health drills and actions, teaching
suggestions and recommendation and a full suite of AI analytics. Slinger will supply some providers freed from cost and can construct a tiered subscription
mannequin for others. The app is predicted to be able to launch to the market later in calendar 2021.

In
future years, the Firm plans to enter new ball sport markets reminiscent of baseball, softball, cricket, badminton and others.

Slinger’s
manufacturing capability was initially roughly 2,000 models monthly, however with enhancements and efficiencies within the manufacturing
processes throughout all vendor companions, the month-to-month manufacturing capability rose to over 3,000 within the final fiscal quarter and present capability
is now over 5,000 models monthly, which can assist Slinger’s future gross sales targets.

Slinger
delivers Slinger Launchers instantly from the ultimate meeting facility in Xiamen, China to prospects both by direct cargo from the
port in China, or to 3rd get together logistics services in Columbia SC (USA) to assist our US enterprise, Belleville, Ontario, Canada, Rotterdam,
The Netherlands to assist smaller distributors in Canada, Europe, Center East, Africa, and lastly to Israel.

Moreover,
we ship full containers of our Slinger Triniti Tennis Balls from Wilson (our provider) in Thailand to america for onward distribution.

The
Firm has contracted with unique distributors globally. These embody Japan, UK, Eire, Switzerland, Scandinavian markets (overlaying
Denmark, Sweden, Norway, Finland) Australia, New Zealand, Bulgaria, Czech Republic, Singapore, Morocco, Slovenia, Slovkian Republic,
Hungary, Croatia, Germany, Austria, France, Italy, Spain, Portugal, Netherlands, Belgium and Luxembourg, Russia, Center East GCC markets,
Egypt, Bangladesh, Pakistan, Malaysia Czech and Slovak Republics, Greece, Panama, South Africa, Hong Kong, Macau and China
and we’re in numerous phases of negotiation with different potential market distribution firms throughout the globe. Manufacturing
manufacturing stays at full capability – at present 5,000 models monthly and Slinger has merchandise leaving our manufacturing facility
in Xiamen, China on a weekly foundation en-route to our distribution facilities in america and Europe and to our key distributor companions.

Our
principal govt workplace is situated at 2709 N. Rolling Highway, Suite 138, Windsor Mill, MD 21244, and our phone quantity is 443-407-7564.

Technique

The
Firm has a possibility to disrupt the standard tennis market globally. The Firm expects to drive 80% of its world revenues
via its direct-to-consumer go-to-market technique, whether or not that be via its on-line e-commerce platform at www.slingerbag.com
or via related e-commerce platforms established and managed by its distribution community. The steadiness of revenues shall be pushed
via partnerships with main wholesalers, federations and educating professional organizations and different transactions throughout numerous markets.
The Firm will function a third-party distributor construction in all markets except for america, the biggest tennis
market globally, Canada and its founder’s residence market of Israel. Distributor companions can have unique territories and can
have a acknowledged background inside the tennis trade for his or her market in addition to having the monetary capability and repair infrastructure
to aggressively develop the Slinger model. Uniquely within the sports activities trade, all client orders acquired into Slingerbag.com from markets
exterior america shall be routed again to our native distribution companions to satisfy and to service their native prospects. All
distributor companions will buy with superior orders, both primarily based on a vendor-direct FOB Asia direct ship or via 1 of our 3 world
third get together distribution services on an obligation paid foundation and at premium value worth. Presently, the Firm has signed a quantity
of unique distribution agreements in key markets and has on-going discussions with different key potential distributor companions
in different markets across the globe and is trying to shut these distribution preparations within the coming months.

The
United States market will stay a direct-to-consumer marketplace for Slinger. As the biggest tennis market on the earth with 17.4 million
gamers of which 10.5 million are common / avid gamers, america is a key market each to determine the Slinger model and to
drive demonstrable progress. Not too long ago the trade reported a big enhance in US tennis participation and total variety of tennis
play events, one thing that has been replicated in different key tennis markets across the globe. Direct-to-consumer gross sales shall be supplemented
by a number of main tennis wholesalers who handle massive databases of coach, participant, school, highschool and membership purchasers. This market
shall be serviced out of a third-party logistics facility in West Columbia, SC and operated by one in all Slinger’s most well-liked world
logistics companions, DSV, one of many world’s main suppliers of freight-forwarding, logistics and warehousing.

Model
Advertising and marketing

As
a direct-to-consumer e-commerce model, all advertising exercise and promoting media shall be centered round pushing customers to www.slingerbag.com
and changing them to purchases. Slinger has engaged numerous main businesses to assist its world advertising efforts:

Model
Nation is a world class influencer advertising company primarily based in London. Model Nation will lead all influencer programming globally. Slinger
has seeded about 50% of its deliberate 1,000 world influencers thus far. Influencers focused are broad ranging and embody main sports activities,
tennis, movie, TV, music and blogger celebrities all recognized for the truth that they play tennis often and have a fan base in extra
of 10,000 followers. All influencer exercise is rolled again as much as the Slinger social media platforms as a way of producing vital
model consciousness and product curiosity.

Ad
Enterprise Media Group is a New York primarily based main PPC (pay-per-click) company whose work is grounded in subtle scientific evaluation
of client information and client developments and they’re acknowledged globally as leaders in paid search and paid social media campaigns. Ad Enterprise
Media will lead all Slinger PPC exercise on a performance-based payment construction and is briefed to drive client engagement, via bespoke
promoting campaigns which are aligned to our product profitability targets.

In
america market, we’ve got partnered with a corporation known as Workforce HQS who will handle an affiliate internet marketing program throughout
USA primarily based educating professionals, gamers, juniors and occasions. These associates shall be supplied with distinctive affiliate internet marketing codes
to share with their social media followers and different such communities that they’re related to and every will obtain an affiliate internet marketing
payment primarily based on revenues generated by customers buying Slinger merchandise attributable to their distinctive code.

We
proceed to judge every assist company on a month-to-month foundation and on the identical time are frequently exploring new avenues to broaden our
attain to our core prospects.

Every
of our distributor companions world wide are establishing their Slinger distribution enterprise as Slinger itself would do if it was
establishing a Slinger subsidiary in every market. As such, every distributor can even undertake all types of Slinger model advertising packages
in addition to initiating new native ideas of their very own – all geared toward reaching the avid/common tennis participant instantly and making certain
that the Slinger model message is constant across the globe. Slinger has agreed an area advertising finances construction with every distributor
as a part of its distribution settlement. This advertising finances shall be primarily funded by the distributor companion with an extra contribution
coming from Slinger with the contribution being linked to the distributors buy targets. Every distributor will execute native grassroots
packages together with demonstration days, native educating professional partnerships, specialist tennis community communications, seeding of Slinger
product domestically as essential to native key market tennis influencers to additional enhance the depth of the influencer effort. Advertising and marketing
{dollars} can even be allotted to Google, Fb, YouTube and different social media promoting spend and, the place acceptable, accepted
and overseen by Ad Enterprise Media Group.

Distribution
Agreements

As
of the date of this report, Slinger Bag Americas has entered into unique distribution agreements for Slinger’s line of merchandise,
together with, however not restricted to, tennis ball launcher units, tennis ball launcher equipment, sports activities baggage, tennis balls, tennis courtroom
equipment and different tennis associated merchandise within the following markets and with the next distributors:

Territory

Distributor

Minimal
Buy
Requirement
of Slinger Bag
Tennis
Ball LaunchersJapan

Globeride
Inc.

32,500
via the tip of January 2025United
Kingdom and Eire

Framework
Sports activities & Advertising and marketing Ltd

9,000
via the tip of Could 2025Switzerland

Ace
Distribution

3,000
via the tip of Could 2025Denmark,
Finland, Norway and Sweden

Frihavnskompagniet
ApS

6,500
via the tip of December 2025Morocco

Planet
Sport Sarl

1,000
via the tip of December 2025Australia

Sportsman
Warehouse t/a Tennis Solely

2,500
via the tip of 2025New
Zealand

Sporting
Items Specialists

100
via the tip of 2025Bulgaria

Ark
Dream EOOD

950
via the tip of 2025Chile

Sporting
Manufacturers Ltds

165
via the tip of 2025Croatia,
Hungary and Slovenia

Go
4 d.o.o.

380
via the tip of 2025Austria,
Belgium, France, Germany, Italy, Luxembourg, Portugal, Spain and The Netherlands

Dunlop
Worldwide Europe Ltd

120,000
via the tip of 2025Singapore

Tennis
Bot Pte Ltd

950
via the tip of 2025India

Racquets4U

10,000
via the tip of 2025Israel

Eran
Shine

2,050
via the tip of 2025Bahrain,
Bangladesh, Egypt, Kuwait, Maldives, Oman, Pakistan, Qatar, Saudi Arabia, Sri Lanka, Tunisia and United Arab Emirates

Coloration
Sports activities Inc

3,000
via the tip of 2025Greece

Elsol

380
via the tip of 2025Panama

Orange
Professional

50
via the tip of 2021Russia

Neva
Sport

1,900
via the tip of 2025Malaysia

Tennis
Bot

500
via the tip of 2025Czech and Slovak
Republics

RaketSport s.r.o

3,000
via the tip of 2025South Africa

Golf
Racket Pty Ltd

5,000
via the tip of 2025Hong Kong and Macau

Tennis
Bot

750
via the tip of 2025China

Xiamen Powerway
Sports activities Co. Ltd

17,500 via the
finish of 2026Total

221,175

Model
Endorsements

Slinger
has reached settlement with a number of globally acknowledged model ambassadors.

Tommy
Haas (former ATP #2 Participant) has been appointed the Slinger Bag Chief Ambassador. On this position Tommy will assist Slinger in constructing
out its world ambassador workforce targeted on figuring out ambassadors in our key world enterprise markets of Japan, Europe, Australia, China,
Brazil and India. Tommy can even be very lively supporting and selling Slinger throughout the globe with private appearances at Slinger
occasions and through on-line coaching and drill movies.

Mike
& Bob Bryan (aka the Bryan Brothers – the foremost doubles workforce within the tennis world) have prolonged their ambassador agreements
and can proceed to characteristic prominently in our advertising actions and messaging.

Eugenie
Bouchard

Jensen
Brothers

Darren
Cahill

Patrick
Mouratoglou

Dustin Brown

The
Skilled Tennis Registry (PTR) – a United States-based educating affiliation with roughly 40,000 members will develop into a
non-exclusive strategic companion for Slinger with all their members in a position to entry an affiliate member a part of our web site.

Peter
Burwash Worldwide (PBI) – a United States-based, extremely revered, world tennis providers firm arrange by Peter Burwash some
35 years in the past. PBI offers tennis packages and different tennis providers to as many as 56 of the globes main motels and resorts. Slinger
Launchers shall be accessible to make use of at every resort and the PBI workforce shall be actively selling Slinger as a part of our affiliate internet marketing
exercise.

PTCA
Central Europe – a European Coach group of main touring professional coaches they usually, like others, will undertake an affiliate
advertising method.

Tie
Break 10s – a world group that owns and operates Tie Break 10 occasions each independently and in partnership with main world
tour occasions, e.g., Indian Wells. These occasions contain prime gamers enjoying ‘tie-break’ matches with the occasion totally accomplished
in a single night and with a big money prize for the winner. Slinger shall be promoted at every of those occasions and shall be accessible
for followers to check out in addition to the Slinger model identify being prominently used on Tie Break 10s social media.

Tennis
One App – a United States-based firm that has developed and efficiently marketed an all-inclusive tennis app for gamers throughout
the globe. Slinger has engaged with Tennis One to assist its coaches nook section – a weekly podcast sequence and in doing so
advantages from the model publicity accessible via the attain of the customers utilizing the app frequently.

Practical
Tennis – an Eire primarily based social media tennis weblog website with in extra of 250,000 followers. Slinger is engaged with Practical
Tennis in a wide range of methods and is the presenting sponsor of its weekly Tennis Podcast.

Slinger
is at present in discussions with different organizations, occasions, outstanding coaches and gamers and has thus far seeded Slinger merchandise to
12 of the highest 20 ATP male gamers, 5 of the highest 20 WTA girls gamers, plus quite a few different top-class touring and educating professionals.

All through
2020 Slinger sponsored a number of outstanding tennis occasions, e.g., Battle of the Brits and Tie Break 10s (all proven reside throughout the
globe).

Strategic
Model Partnerships

Slinger
is actively engaged on securing numerous extremely seen ground-breaking strategic partnerships throughout tennis. These partnerships will
present Slinger with co-branded merchandise to complement the core Slinger product providing and, on the identical time, are anticipated to drive
mutually useful advertising campaigns geared toward reaching avid tennis gamers globally. Particulars of such companions introduced and lively
in the present day embody:

●
Wilson Sporting Items: North America: Slinger has entered a strategic partnership with the worldwide chief in tennis, Wilson, for
the availability of co-branded Triniti Tennis Balls within the USA and Canada markets.

●
Skilled Tennis Registry (PTR): The PTR is the world’s most prestigious educating professional group with greater than 40,000 members.
Slinger has partnered with PTR for the availability of Ball Launchers to their membership.

●
Peter Burwash Worldwide (PBI): A excessive profile group offering teaching and tennis providers to excessive degree, prime quality motels,
resorts and tennis services throughout the globe. Slinger is the official provider of Ball Launchers to PBI, which shall be used at every
location and PBI will supply an affiliate internet marketing program selling gross sales to its checklist of worldwide purchasers.

●
DSV Logistics USA and OSL Logistics: DSV is without doubt one of the world’s main suppliers of warehousing, freight forwarding and logistics.
Slinger will use DSV warehousing providers within the US to optimize logistical actions. OSL are at present offering all freight forwarding
for the US markets and Europe in addition to third get together warehousing logistics in Rotterdam for Europe.

Competitors

There
are at present no rivals with merchandise which are just like the Slinger Launcher, primarily based on its portability, affordability and tennis
bag performance. There are, nonetheless, different firms that make tennis ball machines, together with the next:

●
Spinshot
●
Lobster
Sports activities
●
Spinfire
Professional 2
●
Match
Mate Rookie
●
Sports activities
Tutor
●
Silent
Companion

Uncooked
Supplies

All
supplies used within the Slinger Launcher can be found off-the-shelf. The trolley bag is manufactured with 600D Polyester and has the CA65
certification for the US market. The launcher housing, Oscillator and Ball Collector tube components are produced utilizing an injection mildew
utilizing poly propylene combined with 30% glass fibers. The digital motors, PCB boards and remote-control components are all normal off-the-shelf
gadgets.

Mental
Property

As
of the date of this report, the Firm has utilized for worldwide design and utility patent safety for its foremost 3 merchandise: Slinger
Launcher, Slinger Oscillator and Slinger Telescopic Ball Tube. Patents have been utilized for in all key markets together with the US, China,
Taiwan, India, Israel and EU markets and granted in China and Israel. Emblems have been utilized for in all main markets across the
globe Trademark safety has been utilized for and/or acquired within the following international locations:

●
US
●
Chile
●
Taiwan
●
Mexico
●
EU
●
Russia
●
Poland
●
Czech
Republic
●
Australia
●
New
Zealand
●
China
●
South
Korea
●
Vietnam
●
Singapore
●
India
●
Canada
●
United
Arab Emirates*
●
South
Africa*
●
Columbia*
●
Israel*
●
Japan*
●
Switzerland*
●
Indonesia*
●
Malaysia*
●
Thailand*
●
Turkey*
●
Argentina
●
Brazil

*Safety
is pending.

Slinger
is engaged in ongoing efforts to register extra logos throughout an increasing checklist of merchandise, providers and functions, that are
in numerous phases of the registration course of.

Slinger
Bag Inc. owns the rights to its Slingerbag.com area.

Seasonal
Enterprise

Prices
and Results of Complying with Environmental Rules

Set
forth under is an in depth chart of all Product Certifications held by Slinger for key world markets overlaying battery, distant management
(radio wave), and energy charger. As well as, inside america, Slinger complies with the required California 65 laws
in respect to the supplies used within the development of its trolley bag.

Analysis
and Improvement

The
Firm is concerned in further analysis and improvement of transportable, reasonably priced and player-enhancing ball launching machines
and related sport enchancment merchandise for all ball sports activities. Following a profitable launch of its tennis ball launcher, Slinger is at present
subject testing its new pickleball, padel and gentle tennis launchers, that are anticipated to be launched to the market in calendar 2022.
Slinger plans to introduce related transportable, versatile and reasonably priced ball launchers for baseball, softball, cricket and different
excessive participation ball sports activities over the course of the subsequent 3 years. On this connection, on September 10, 2020, Slinger entered into an
settlement with Igloo Design, which is similar firm that designed the Slinger Launcher for tennis, for a Slinger ball launcher for
baseball and softball. This improvement commenced throughout the three months ended October 31, 2020 and preliminary design concepts and additional
path have been offered.

Slinger
retains exterior consultants to supply analysis and product design providers and every advisor has a particular experience (e.g.,
molding know-how, electronics, product design, bag design as examples). We are also working with a choose group of extremely certified
and resourceful third-party suppliers in Asia. We’re frequently striving to establish product enhancements, new ideas and enhancements
to the manufacturing course of on an on-going day by day foundation. In respect of any new venture, administration offers detailed briefs, market information,
product value targets, aggressive evaluation, timelines and venture value targets to both the product consultants or distributors and manages
them to agreed key efficiency indicators (“KPIs”). These KPI’s embody however will not be restricted to (i) manufacturing to
goal prices; (ii) agreed improvement timelines; (iii) established high quality standards; and (iv) outlined efficiency standards.

We
additionally retain specialist trademark and patent attorneys and work with
these attorneys on the initiatives, as wanted.

Authorities
Regulation

Each
Slinger Launcher and Slinger Oscillator meet all america authorities necessities for electrical, radio wave and battery requirements
in addition to having all obligatory and required certification to facilitate world advertising and gross sales of those merchandise.

High quality
Management

High quality
management is a vital perform inside Slinger. As a brand new model our enterprise enterprise success shall be solely depending on the standard
and consistency of our merchandise. To make sure the very best ranges of high quality management, Slinger has engaged a QC/Vendor Administration companion
situated in Taiwan with workplaces in Southern China. The QC companion, Stride-Innovation, has over 30 years of expertise working with ball
sport firms reminiscent of ours and is steeped in data, assets and expertise in working with Chinese language distributors of sports activities tools.

In
partnership, collectively, we’ve got created and documented Slinger high quality pointers, testing procedures and guarantee processes. We now have
applied an agreed High quality Audit course of for all product components being acquired and utilized by our product meeting vendor. All merchandise
undergo a rigorous, statistically legitimate QC testing approval course of earlier than being confirmed as accessible to be launched for cargo
to one in all our distribution facilities or to any of our distribution companions.

Slinger
affords a restricted guarantee with all purchases in accordance with native market statutory laws. This restricted guarantee could be additional
prolonged by the purchaser registering his/her distinctive product serial quantity at www.slingerbag.com/guarantee.

Distributors

Slinger
solely works with and thru extremely respected third-party suppliers. We’re within the strategy of finalizing vendor agreements with every of
our key vendor companions and with our vendor administration companion. Our administration and our vendor administration companion, Stride-Innovation,
often go to the seller services and monitor manufacturing, worker circumstances and welfare and undertake high quality management testing.
We don’t make the most of or condone the usage of little one labor of any type within the manufacturing of our merchandise. We be sure that our vendor companions
are offering high quality office circumstances, office well being and security, worker care and assist packages that meet or exceed all statutory
necessities.

Workers

We
have eight folks offering us providers on a full-time foundation – our chief govt officer, chief monetary officer,
controller, chief advertising officer and chief working officer along with two folks in world customer support and a
world advertising coordinator. Our chief enterprise integration officer, chief innovation officer and normal counsel are additionally employed
pursuant to service agreements, however will not be offering us providers on a full-time foundation. As such, our complete variety of workers is
eleven, which consists of eight full-time and three part-time workers.

Advisory
Board

In
October 2020, we appointed our first three representatives to hitch the newly shaped Slinger Advisory Board. George Mackin joined
the advisory board as a Media and Good know-how knowledgeable having beforehand owned the Indian Wells Tennis occasion and Tennis.com media
and is at present Chairman of PlaySight Interactive Ltd. (PlaySight) having led PlaySight to a excessive degree of success inside the world
tennis trade, Rodney Rapson joined our Advisory Board as an skilled good know-how knowledgeable and Jeff Angus joined
so as to add assist and expertise to our advertising workforce.

Going
Concern

The
monetary statements have been ready on a going concern foundation, which assumes the Firm will have the ability to understand its property and discharge
its liabilities within the regular course of enterprise for the foreseeable future. The Firm has an accrued deficit of $28,823,273
as of April 30, 2021 and extra losses are anticipated within the improvement of the enterprise. Accordingly, there’s substantial doubt
in regards to the Firm’s skill to proceed as a going concern. These monetary statements don’t embody any changes associated to
the recoverability and classification of property or the quantities and classification of liabilities that may be obligatory ought to the Firm
be unable to proceed as a going concern.

The
skill to proceed as a going concern depends upon the Firm producing worthwhile operations sooner or later and/or having the ability
to acquire the required financing to fulfill its obligations and repay its liabilities arising from regular enterprise operations after they
develop into due. Administration intends to finance working prices over the subsequent twelve months with present money readily available, loans from associated
events, and/or personal placement of debt and/or frequent inventory.

There
could be no assurance that ample funds required throughout the subsequent 12 months or thereafter shall be generated from operations or that funds
shall be accessible from exterior sources reminiscent of debt or fairness financings or different potential sources. The shortage of further capital
ensuing from the shortcoming to generate money circulate from operations or to boost capital from exterior sources would pressure the Firm
to considerably curtail or stop operations and would, due to this fact, have a fabric adversarial impact on its enterprise. Moreover, there
could be no assurance that any such required funds, if accessible, shall be accessible on engaging phrases or that they won’t have a big
dilutive impact on the Firm’s present stockholders.

The
Firm intends to beat the circumstances that influence its skill to stay a going concern via a mix of the graduation
of revenues, with interim money circulate deficiencies being addressed via further fairness and debt financing. The Firm anticipates
elevating further funds via public or personal financing, strategic relationships or different preparations within the close to future to assist
its enterprise operations; nonetheless, the Firm might not have commitments from third events for a ample quantity of further capital.
The Firm can’t be sure that any such financing shall be accessible on acceptable phrases, or in any respect, and its failure to boost capital
when wanted might restrict its skill to proceed its operations. The Firm’s skill to acquire further funding will decide
its skill to proceed as a going concern. Failure to safe further financing in a well timed method and on favorable phrases would have
a fabric adversarial impact on the Firm’s monetary efficiency, outcomes of operations and inventory worth and require it to curtail
or stop operations, dump its property, search safety from its collectors via chapter proceedings, or in any other case. Moreover,
further fairness financing could also be dilutive to the holders of the Firm’s frequent inventory, and debt financing, if accessible, might
contain restrictive covenants, and strategic relationships, if obligatory, to boost further funds, and should require that the Firm
relinquish priceless rights.

ITEM
1A. Threat Elements

You
ought to fastidiously take into account the dangers described under and different data on this Annual Report on Type 10-Okay, together with the monetary
statements and associated notes that seem on the finish of this report, earlier than deciding to put money into our securities. These dangers ought to be
thought of along with another data included herein, together with along with forward-looking statements made herein.
If any of the next dangers really happen, they may materially adversely have an effect on our enterprise, monetary situation and working
outcomes. Extra dangers and uncertainties that we don’t presently know or that we at present deem immaterial might also impair our enterprise,
monetary situation and working outcomes. The next dialogue of dangers will not be all-inclusive however is designed to spotlight what
we imagine are the fabric elements to contemplate when evaluating our enterprise and expectations. These elements might trigger our future outcomes
to vary materially from our historic outcomes and from expectations mirrored in forward-looking statements.

Dangers
Associated to Our Enterprise

Our
enterprise is delicate to client spending and normal financial circumstances.

Client
purchases of discretionary premium sporting good gadgets, which embody all of our merchandise, could also be adversely affected by the present COVID-19
(“Coronavirus”) pandemic, in addition to financial circumstances reminiscent of employment ranges, wage and wage ranges, developments in
client confidence and spending, reductions in client web price, rates of interest, inflation, the provision of client credit score and
taxation insurance policies affect on public spending confidence. Current dramatic downturns within the power of worldwide inventory markets, currencies
and key economies have highlighted many if not all, of those dangers.

Client
purchases generally might decline throughout recessions, durations of extended declines within the fairness markets or housing markets and durations
when disposable revenue and perceptions of client wealth are decrease, and these dangers could also be exacerbated for us as a result of our deal with discretionary
premium sporting good gadgets. A downturn within the world financial system, or in a regional financial system by which we’ve got vital gross sales, might
have a fabric, adversarial impact on client purchases of our merchandise, our outcomes of operations and our monetary place, and a downturn
adversely affecting our client base or vacationers might have a disproportionate influence on our enterprise.

There
continues to be a big and rising volatility and uncertainty within the world financial system as a result of Coronavirus pandemic affecting
all enterprise sectors and industries. As well as, the on-going uncertainty in Europe (together with considerations that sure European international locations
might default in funds due on their nationwide debt and considerations relating to the longer term viability of the European Union and the attainable
results of its unraveling) and any ensuing disruption might adversely influence our web gross sales in Europe and globally except and till
financial circumstances in that area enhance and the prospects of nationwide debt defaults in Europe decline. Additional or future downturns
might adversely have an effect on visitors at our on-line gross sales portals (which at present consists of our personal web site www.slingerbag.com) and will
materially and adversely have an effect on our outcomes of operations, monetary place and progress technique.

Likewise,
the present deadlock in U.S.-China commerce relations has resulted in import duties for all Slinger merchandise into the U.S.
being elevated from the earlier normal of 5% to 30%. Our administration has taken the view that at the moment within the early years
of Slinger’s progress, gaining distribution and share outweighs the instant margin consideration and has determined to take
the added enhance in import tariffs as a margin loss.

Our
manufacturing takes place in China and, due to this fact, is vulnerable to shutdowns and delays brought on by Coronavirus and different ailments and
epidemics. Moreover, we depend on impartial producers and suppliers.

As
on the date hereof, our sole manufacturing services are situated in southern China. Following the outbreak of the Coronavirus our manufacturing
facility was shut down for 3 months, which induced vital delays in manufacturing and supply of our merchandise. Nonetheless, there
could also be additional outbreaks of Coronavirus and different ailments and epidemics, which can trigger additional delays and shutdowns. This, in flip,
will negatively have an effect on our income and enhance our bills and prices.

We
don’t management our impartial producers and suppliers or their labor and different enterprise practices. Violations of labor, environmental
or different legal guidelines by an impartial producer or provider, or divergence of an impartial producer’s or provider’s labor
or different practices from these typically accepted as moral or acceptable within the U.S., might disrupt the shipments of our merchandise or
draw destructive publicity for us, thereby diminishing the worth of our model, decreasing demand for our merchandise and adversely affecting
our web revenue. Moreover, since we don’t manufacture our merchandise, we’re topic to dangers related to stock and product
quality-control.

Additional,
we’ve got not traditionally entered into manufacturing contracts with our producers; as an alternative, we’ve got employed them on an ad hoc
foundation. Figuring out an acceptable producer is an concerned course of that requires us to develop into happy with the possible producer’s
high quality management, responsiveness and repair capabilities, monetary stability and labor practices. Whereas we’ve got enterprise continuity
and contingency plans for various sourcing, we could also be unable, within the occasion of a big disruption in our sourcing, to find
various producers or suppliers of comparable high quality at a suitable worth, or in any respect, which might lead to product shortages
or decreases in product high quality, and adversely have an effect on our web gross sales, gross margin, web revenue, buyer relationships and our repute.

We
rely on the power of the Slinger® model.

We
count on to derive considerably all of our web gross sales from gross sales of Slinger branded merchandise. The repute and integrity of the Slinger
model are important to the success of our enterprise. We imagine that our customers worth the standing and repute of the Slinger model,
and the superior high quality, efficiency, performance and sturdiness that our model represents. Constructing, sustaining and enhancing the
standing and repute of the Slinger model picture is vital to increasing our client base. Our continued success and progress
rely on our skill to guard and promote the Slinger model, which, in flip, is dependent upon elements reminiscent of the standard, efficiency,
performance and sturdiness of our merchandise, our communication actions, together with promoting and public relations, and our administration
of the buyer expertise, together with direct interfaces via customer support and guarantee repairs. We might resolve to make substantial
investments in these areas to be able to preserve and improve our model, and such investments will not be profitable.

Moreover,
to be able to broaden our attain sooner or later, we may have to interact with third-party distributors. To the extent these third-party distributors
fail to adjust to our working pointers, we will not be profitable in defending our model picture. Product defects, product recollects,
counterfeit merchandise and ineffective advertising are among the many potential threats to the power of our model and to guard our model’s
standing we might must make substantial expenditures to mitigate the influence of such threats.

Furthermore,
if we fail to proceed to innovate to make sure that our merchandise are
deemed to attain superior ranges of perform, high quality and design, or to in any other case be sufficiently distinguishable from our rivals’
merchandise, or if we fail to handle the expansion of our on-line gross sales in a manner that protects the high-end nature of our model, the worth
of the Slinger model could also be diluted, and we might not have the ability to preserve our premium place and pricing or gross sales volumes, which might
adversely have an effect on our monetary efficiency and enterprise. We imagine that sustaining and enhancing our model picture in new markets
the place we’ve got restricted model recognition is vital to increasing our client base. If we’re unable to keep up or improve our model
in new markets, then our progress technique might be adversely affected.

The
value of uncooked supplies, labor or freight might result in a rise in our value of gross sales and trigger our outcomes of operations to endure.

Growing
prices for uncooked supplies, labor or freight might make our sourcing processes extra expensive and negatively have an effect on our gross margin and profitability.
Labor prices at our impartial producers’ websites have been rising and it’s unlikely that these will increase will abate. Wage
and worth inflation in our supply international locations might trigger unanticipated worth will increase, which can be vital. Such worth will increase
by our impartial producers might be fast within the absence of producing contracts. Vitality prices have fluctuated dramatically
prior to now and should fluctuate sooner or later. Rising power prices might enhance our prices of transporting our merchandise for distribution
and the prices of merchandise that we supply from impartial suppliers. Additional, lots of our merchandise are manufactured from supplies, reminiscent of excessive
influence plastics, plastic-injected molded components, and light-weight excessive tensile power metals, which are both petroleum-based or require
power to assemble and transport. Prices for transportation of such supplies have been rising as the value of petroleum will increase.
Our impartial suppliers and producers might try and cross these value will increase on to us, and {our relationships} with them could also be
harmed or misplaced if we refuse to pay such will increase, which might result in product shortages. If we pay such will increase, we will not be in a position
to offset them via will increase in our pricing and different means, which might adversely have an effect on our skill to keep up our focused gross
margins. If we try and cross the will increase on to customers, our gross sales could also be adversely affected.

Failure
to adequately shield our mental property and curb the sale of counterfeit merchandise might injure our model and negatively
have an effect on our gross sales.

Our
logos, copyrights, patents, designs and different mental property rights are vital to our success and our aggressive place.
We commit vital assets to the registration and safety of our logos and patents. Despite our efforts, counterfeiting
and design copies should happen. If we’re unsuccessful in difficult the usurpation of those rights by third events, this
might adversely have an effect on our future gross sales, monetary situation and outcomes of operations. Our efforts to implement our mental property
rights can doubtlessly be met with defenses and counterclaims attacking the validity and enforceability of our mental property
rights. Unplanned will increase in authorized charges and different prices related to defending our mental property rights might lead to
larger working bills. Moreover, authorized regimes exterior the U.S., notably these in Asia, together with China, might not
all the time shield mental property rights to the identical diploma as U.S. legal guidelines, or the time required to implement our mental property
rights underneath these authorized regimes could also be prolonged and delay our restoration.

We
might develop into topic to claims for remuneration or royalties for assigned service invention rights by our workers, which might outcome
in litigation and adversely have an effect on our enterprise.

A
good portion of our mental property has been developed by our workers, or exterior consultants in the midst of their employment
or retention with us. Underneath the Israeli Patent Regulation, 5727-1967, or the Patent Regulation, innovations conceived by an worker throughout the scope
of his or her employment with an organization are considered “service innovations.” The Israeli Compensation and Royalties Committee,
or the Committee, a physique constituted underneath the Patent Regulation, has beforehand held, in sure instances, that workers could also be entitled to remuneration
for service innovations that they develop throughout their service for an organization regardless of their specific waiver of such proper. Subsequently, though
we enter into agreements with all of our workers pursuant to which they waive their proper to particular remuneration for service innovations
created within the scope of their employment or engagement and agree that any such innovations are owned solely by us, we might face claims
by workers demanding remuneration past their common wage and advantages.

We
face dangers related to working in worldwide markets.

We
function in a world market and worldwide gross sales progress is a key factor of our progress technique. We’re topic to dangers
related to our worldwide operations, together with, however not restricted to:

●
International
forex trade charges, together with GBP;
●
Financial
or governmental instability in overseas markets by which we function or in these international locations from which we supply our merchandise;
●
Surprising
modifications in legal guidelines, regulatory necessities, taxes or commerce legal guidelines;
●
Will increase
in the price of transporting items globally;
●
Acts
of battle, terrorist assaults, outbreaks of contagious illness and different occasions over which we’ve got no management; and
●
Adjustments
in overseas or home authorized and regulatory necessities ensuing within the imposition of recent or extra onerous commerce restrictions, tariffs,
duties, taxes, embargoes, trade or different authorities controls.

Any
of those dangers might have an adversarial influence on our outcomes of operations, monetary place or progress technique. Moreover, a few of
our worldwide operations are performed in components of the world that have corruption to a point. Though we’ve got insurance policies
and procedures in place which are designed to advertise authorized and regulatory compliance (together with with respect to the U.S. International Corrupt
Practices Act and the UK Bribery Act 2010), our workers and wholesalers might take actions that violate relevant anti-corruption
legal guidelines or laws. Violations of those legal guidelines, or allegations of such violations, might have an adversarial influence on our repute, our
outcomes of operations or our monetary place.

International
trade actions might also negatively have an effect on the relative buying energy of overseas vacationers and lead to declines in journey volumes
or their willingness to buy discretionary premium items, reminiscent of our merchandise, whereas touring, which might adversely have an effect on our
web gross sales. We don’t at present use the spinoff markets to hedge overseas forex fluctuations.

Our
outcomes of operations are topic to seasonal and quarterly fluctuations, which might adversely have an effect on the market worth of our frequent
inventory.

Our
quarterly outcomes of operations might fluctuate considerably on account of a wide range of elements, together with, however not restricted to:

●
Adjustments
within the variety of our factors of distribution;
●
Climate
developments;
●
Adjustments
in our merchandise combine; and
●
The
timing of recent product introductions.

The
progress of our enterprise is dependent upon the profitable execution of our progress technique, together with our efforts to broaden internationally by
rising our e-commerce enterprise.

Our
present progress technique is dependent upon our skill to proceed to broaden geographically in numerous worldwide areas together with Asia,
Europe, North America, China, Japan, South Korea, Center East, India, South Africa and Australia. This progress technique is
contingent upon our skill to repeatedly introduce our merchandise to new markets. The implementation of upper tariffs, quotas or different
restrictive commerce insurance policies in any worldwide areas by which we search to function might adversely have an effect on our skill to start new
worldwide operations, which might have an adversarial influence on our progress technique. Additional, client demand conduct, in addition to tastes
and buying developments, might differ in numerous international locations and, in consequence, gross sales of our merchandise will not be, or might take time to develop into,
profitable, and gross margins on these web gross sales will not be in keeping with what we at present expertise. Our skill to execute our worldwide
progress technique, particularly the place we’re not but established, is dependent upon our skill to grasp regional market demographics,
and we will not be in a position to take action. If we’re unable to broaden our enterprise internationally, our progress technique and our monetary
outcomes might be materially adversely affected.

If
we’re unable to reply successfully to modifications in market developments and client preferences, our market share, web gross sales and profitability
might be adversely affected.

The
success of our enterprise is dependent upon our skill to establish the important thing product and market developments and convey merchandise to market in a well timed
method that fulfill the present preferences of a broad vary of customers (both by enhancing present merchandise or by creating new
product choices). Client preferences differ throughout and inside completely different components of the world, and shift over time in response to altering
aesthetics and financial circumstances. We imagine that our success in creating merchandise which are progressive and that meet our customers’
useful wants is a vital consider our picture as a premium model, and in our skill to cost premium costs. We will not be in a position
to anticipate or reply to modifications in client preferences, and, even when we do anticipate and reply to such modifications, we will not be
in a position to convey to market in a well timed method enhanced or new merchandise that meet these altering preferences. If we fail to anticipate or
reply to modifications in client preferences or fail to convey merchandise to market in a well timed method that fulfill new preferences, our market
share and our web gross sales and profitability might be adversely affected.

We
could also be unable to enchantment to new customers whereas sustaining the loyalty of our core customers.

Half
of our progress technique is to introduce new customers, together with youthful customers, to the Slinger model. If we’re unable to draw
new customers, together with youthful customers, our enterprise and outcomes of operations could also be adversely affected as our core customers’
age will increase and ranges of journey and buying frequency lower. Initiatives and methods supposed to place our model to enchantment
to new and youthful customers might not enchantment to our core customers and should diminish the enchantment of our model to our core customers, ensuing
in lowered core client loyalty. If we’re unable to efficiently enchantment to new and youthful customers whereas sustaining our model’s
premium picture with our core customers, then our web gross sales and our model picture could also be adversely affected.

Fluctuations
in our tax obligations and efficient tax price might have a destructive impact on our working outcomes.

We
could also be topic to revenue taxes in a number of jurisdictions. We document tax expense primarily based on our estimates of future funds, which embody
reserves for unsure tax provisions in a number of tax jurisdictions. At anybody time, many tax years could also be topic to audit by numerous
taxing jurisdictions. The outcomes of those audits and negotiations with taxing authorities might have an effect on the final word settlement of those
points. Consequently, we count on that all year long there might be ongoing variability in our quarterly tax charges as occasions happen
and exposures are evaluated. Additional, our efficient tax price in a given monetary interval could also be materially impacted by modifications in combine
and degree of earnings or by modifications to present accounting guidelines or laws. As well as, tax laws enacted sooner or later might
negatively influence our present or future tax construction and efficient tax charges.

Our
enterprise might endure if we’re unable to keep up our web site or handle our stock successfully.

We
make use of a distribution technique that’s closely dependent upon our web site and third-party distributors’ e-commerce web sites. The
effectiveness of our e-commerce technique is dependent upon our skill to handle our stock and our distribution processes successfully so
as to make sure that our merchandise can be found in ample portions and thereby stop misplaced gross sales. If we’re not in a position to preserve
our e-commerce channels, or if we’re not in a position to successfully handle our stock, we might expertise a decline in web gross sales, as effectively
as extra inventories for some merchandise and missed alternatives for different merchandise. As well as, the failure to ship our merchandise
to prospects in accordance with our supply schedules might injury our relationship with these prospects and result in destructive suggestions
being posted on e-commerce websites. Consequently, our web gross sales, profitability and the implementation of our progress technique might be adversely
affected.

We
plan to make use of money offered by working actions to fund our increasing enterprise and execute our progress technique and should require further
capital, which will not be accessible to us.

We
count on our enterprise to depend on web money offered by our future working actions as our major supply of liquidity. To assist our
enterprise and execute our progress technique as deliberate, we might want to generate vital quantities of money from operations to be able to
buy stock, pay personnel, put money into analysis and improvement, and pay for the elevated prices related to working as a
public firm. If our enterprise doesn’t generate money circulate from working actions ample to fund these actions, and if ample
funds will not be in any other case accessible to us, we might want to search further capital, via debt or fairness financings, to fund our progress.
Situations within the credit score markets (reminiscent of availability of finance and fluctuations in rates of interest) might make it tough for us to
acquire such financing on engaging phrases and even in any respect. Extra debt financing that we might undertake, could also be costly and may
impose on us covenants that limit our operations and strategic initiatives, together with limitations on our skill to incur liens or
further debt, pay dividends, repurchase our capital inventory, make investments and interact in merger, consolidation and asset sale transactions.
Fairness financings could also be on phrases which are dilutive or doubtlessly dilutive to our shareholders, and the costs at which new buyers
could be prepared to buy our fairness securities could also be decrease than the value per share of our frequent inventory. The holders of recent securities
might also have rights, preferences or privileges which are senior to these of present holders of frequent inventory. If new sources of financing
are required, however are unattractive, inadequate or unavailable, then we shall be required to switch our progress and working plans primarily based
on accessible funding, if any, which might inhibit our progress and will hurt our enterprise.

Our
prolonged provide chain requires lengthy lead instances and depends closely on producers in Asia.

We
rely closely on producers in Asia, which requires lengthy lead instances to get items to markets. The lengthy lead instances would require
us to hold additional stock to keep away from out-of-stock eventualities. Within the occasion of a decline in demand for our merchandise, as a result of normal financial
circumstances or different elements, we could also be pressured to liquidate this additional stock at decrease margins or at a loss. As well as, as
a results of these lengthy lead instances, design selections are required to be made a number of months or as early as a 12 months and a half earlier than the
items are delivered. Customers’ tastes can change between the time a product is designed and the time it takes to get to market.
If the designs will not be common with customers, it might additionally lead to the necessity to liquidate the inventories at decrease margins
or at a loss, which might adversely have an effect on our outcomes of operations.

We
rely on present members of administration and key workers to implement key components in our technique for progress, and the failure to retain
them or to draw appropriately certified new personnel might have an effect on our skill to implement our progress technique efficiently.

The
profitable implementation of our progress technique relies upon partly on our skill to retain our skilled administration workforce and key workers
and on our skill to draw appropriately certified new personnel. As an example, our chief govt officer has intensive expertise
working branded sporting items in addition to retail-oriented companies. The lack of any key member of our administration workforce or different key
workers might hinder or delay our skill to implement our progress technique successfully. Additional, if we’re unable to draw appropriately
certified new personnel as we broaden over the subsequent few years, we will not be profitable in implementing our progress technique. In both
occasion, our profitability and monetary efficiency might be adversely affected.

Underneath
relevant employment legal guidelines, we might not have the ability to implement covenants to not compete.

We
typically enter into non-competition agreements as a part of our employment agreements with our workers. These agreements typically prohibit
our workers, in the event that they stop working for us, from competing instantly with us or working for our rivals or purchasers for a restricted
interval. We could also be unable to implement these agreements underneath the legal guidelines of the jurisdictions by which our workers work and it could be tough
for us to limit our rivals from benefitting from the experience our former workers or consultants developed whereas working for
us.

For
instance, some labor courts have required employers in search of to implement non-compete undertakings of a former worker to exhibit that
the aggressive actions of the previous worker will hurt one in all a restricted variety of materials pursuits of the employer, which
have been acknowledged by the courts as justification for the enforcement of non-compete undertakings, such because the safety of an organization’s
commerce secrets and techniques or different mental property.

We
don’t make use of conventional promoting channels, and if we fail to adequately market our model via product introductions and different
technique of promotion, our enterprise might be adversely affected.

Our
advertising technique is dependent upon our skill to advertise our model’s message by utilizing internet marketing and social media to advertise
new product introductions in an economical method and probably every so often the usage of newspapers and magazines. We don’t make use of
conventional promoting channels reminiscent of billboards, tv and radio. If our advertising efforts will not be profitable at attracting
new customers and rising buying frequency by our present customers, there could also be no cost-effective advertising channels accessible
to us for the promotion of our model. If we enhance our spending on promoting, or provoke spending on conventional promoting, our
bills will rise, and our promoting efforts will not be profitable. As well as, if we’re unable to efficiently and cost-effectively
make use of promoting channels to advertise our model to new customers and new markets, our progress technique could also be adversely affected.

Failure
to guard confidential data of our customers and our community in opposition to safety breaches or failure to adjust to privateness and
safety legal guidelines and laws might injury our repute, model and enterprise.

A
vital problem to e-commerce and communications, together with the operation of our web site, is the safe transmission of confidential
data over public networks. Our failure to forestall safety breaches might injury our repute and model and considerably hurt
our enterprise and outcomes of operations. On our web site, a majority of the gross sales are billed to our customers’ bank card accounts
instantly, orders are shipped to a client’s deal with, and customers go browsing utilizing their e mail deal with. In such transactions, sustaining
full safety for the transmission of confidential data on our web site, reminiscent of customers’ bank card numbers and expiration
dates, private data and billing addresses, is important to sustaining client confidence. As well as, we maintain sure personal
details about our customers, reminiscent of their names, addresses, cellphone numbers and looking and buying data. We depend on encryption
and authentication know-how licensed from third events to impact the safe transmission of confidential data, together with credit score
card numbers. Advances in laptop capabilities, new discoveries within the subject of cryptography or different developments might lead to a compromise
or breach of the know-how utilized by us to guard client transaction information. As well as, any get together who is ready to illicitly acquire a
person’s password might doubtlessly entry the person’s transaction information or private data. We might not have the ability to stop
third events, reminiscent of hackers or legal organizations, from stealing data offered by our customers to us via our web site.
As well as, our third-party retailers and supply service suppliers might violate their confidentiality obligations and disclose data
about our customers. Any compromise of our safety or materials violation of a non-disclosure obligation might injury our repute
and model and expose us to a threat of loss or litigation and attainable legal responsibility, which might considerably hurt our enterprise and
outcomes of operations. As well as, anybody who is ready to circumvent our safety measures might misappropriate proprietary data
or trigger interruptions in our operations.

For
so long as we’re an “rising progress firm,” we won’t be required to adjust to sure reporting necessities that
apply to different publicly reporting firms. We can’t predict whether or not the lowered disclosure necessities relevant to rising progress
firms will make our frequent shares much less engaging to buyers.

We
are an “rising progress firm,” as outlined within the JOBS Act. For so long as we proceed to be an rising progress firm,
we might select to make the most of sure exemptions from reporting necessities relevant to different publicly reporting firms that
will not be rising progress firms. These embody: (i) not being required to adjust to the auditor attestation necessities for the
evaluation of our inside controls over monetary reporting offered by Part 404 of the Sarbanes-Oxley Act of 2002, or the
Sarbanes-Oxley Act, (ii) not being required to adjust to any necessities adopted by the PCAOB requiring obligatory audit agency rotation
or a complement to the auditor’s report by which the auditor could be required to supply further details about the audit
and the monetary statements of the issuer, (iii) not being required to adjust to any new audit guidelines adopted by the PCAOB after April
5, 2012 except the SEC determines in any other case, (iv) not being required to supply sure disclosure relating to govt compensation required
of bigger publicly reporting firms, and (v) not being required to carry a non-binding advisory vote on govt compensation or search
shareholder approval of any golden parachute funds not beforehand accepted. We might be an rising progress firm for as much as 5
years from the tip of our present fiscal 12 months, though, if the market worth of our frequent shares that’s held by non-affiliates
exceeds $700 million as of any October 31 earlier than the tip of that five-year interval, we’d stop to be an rising progress firm
as of the next April 30. We can’t predict if buyers will discover our frequent shares much less engaging if we select to
depend on these exemptions. If some buyers discover our frequent shares much less engaging on account of any selections to scale back future
disclosure, there could also be a much less lively buying and selling marketplace for our shares and our share worth could also be extra risky. Additional, on account of
these scaled regulatory necessities, our disclosure could also be extra restricted than that of different publicly reporting firms and you might
not have the identical protections afforded to shareholders of such firms.

Our
product improvement firm and chief advertising officer are situated in Israel and, due to this fact, our enterprise, monetary situation and outcomes
of operation could also be adversely affected by political, financial and army instability in Israel.

We
function our Slinger enterprise in Israel underneath Slinger Bag Ltd. We now have additionally engaged an Israeli product improvement firm to help in
the event of our present and future merchandise and our chief advertising officer resides in Israel. Accordingly, political, financial
and army circumstances in Israel instantly have an effect on our enterprise.

Political,
financial and army circumstances in Israel might instantly have an effect on our enterprise. Because the institution of the State of Israel in 1948,
numerous armed conflicts have taken place between Israel and its neighboring international locations, Hamas and Hezbollah. As well as, a number of
international locations, principally within the Center East, limit doing enterprise with Israel, and extra international locations might impose restrictions on doing
enterprise with Israel and Israeli firms whether or not on account of hostilities within the area or in any other case. Any hostilities involving Israel,
terrorist actions, political instability or violence within the area or the interruption or curtailment of commerce or transport between
Israel and its buying and selling companions might adversely have an effect on our operations and outcomes of operations and adversely have an effect on the market worth
of our shares.

Our
industrial insurance coverage doesn’t cowl losses which will happen on account of an occasion related to the safety scenario within the Center
East. Though the Israeli authorities is at present dedicated to overlaying the reinstatement worth of direct damages which are brought on by
terrorist assaults or acts of battle, there could be no assurance that this authorities protection shall be maintained, or if maintained, will
be ample to compensate us totally for damages incurred. Any losses or damages incurred by us might have a fabric adversarial impact
on our enterprise, monetary situation and outcomes of operations.

Additional,
our operations might be disrupted by the obligations of our workers to carry out army service. Our chief advertising officer is topic
to the duty to carry out reserve army obligation. In response to elevated stress and hostilities within the area, there have been,
at instances, call-ups of army reservists, and it’s attainable that there shall be further call-ups sooner or later. Our operations might
be disrupted by the absence of those workers as a result of army service. Such disruption might hurt our enterprise and working outcomes.

Standard
uprisings in numerous international locations within the Center East and North Africa are affecting the political stability of these international locations. Such instability
might result in deterioration within the political and commerce relationships that exist between the State of Israel and these international locations. Moreover,
a number of international locations, principally within the Center East, limit doing enterprise with Israel and firms with an Israeli presence, and extra
international locations might impose restrictions on doing enterprise with Israel and Israeli firms if hostilities within the area proceed or intensify.
Such restrictions might severely restrict our skill to promote our merchandise to prospects in these international locations.

Dangers
Associated to Possession of Our Shares

There
is at present restricted liquidity of shares of our frequent inventory.

Shares
of our frequent inventory don’t commerce frequently. Failure to develop or preserve a buying and selling market might negatively have an effect on its worth
and make it tough or inconceivable so that you can promote your shares. Even when a marketplace for frequent inventory does develop, the market worth of
frequent inventory could also be extremely risky. Along with the uncertainties regarding future working efficiency and the profitability
of operations, elements reminiscent of variations in interim monetary outcomes or numerous, as but unpredictable, elements, lots of that are past
our management, might have a destructive impact available on the market worth of our frequent inventory. The liquidity of the shares of our frequent inventory might
even be affected adversely by a reverse inventory cut up given the lowered variety of shares that shall be excellent following a reverse inventory
cut up, particularly if the market worth of our frequent inventory doesn’t enhance on account of the reverse inventory cut up.

Our
inventory worth could also be risky, or might decline no matter our working efficiency, and you can lose all or a part of your funding
in consequence.

You
ought to take into account an funding in our frequent shares to be dangerous, and it’s best to put money into our frequent shares provided that you
can stand up to a big loss and broad fluctuation out there worth of your funding. The market worth of our frequent shares
might be topic to vital fluctuations in response to the elements described on this part and different elements, lots of that are
past our management. Among the many elements that would have an effect on our inventory worth are:

●
Precise
or anticipated variations in our quarterly and annual working outcomes or these of firms perceived to be just like us;
●
Climate
circumstances, notably throughout vacation purchasing durations;
●
Adjustments
in expectations as to our future monetary efficiency, together with monetary estimates by securities analysts and buyers, or variations
between our precise outcomes and people anticipated by buyers and securities analysts;
●
Fluctuations
out there valuations of firms perceived by buyers to be corresponding to us;
●
The
public’s response to our or our rivals’ filings with the SEC or bulletins relating to new services or products,
enhancements, vital contracts, acquisitions, strategic investments, litigation, restructurings or different vital issues;
●
Hypothesis
about our enterprise within the press or the funding group;
●
Future
gross sales of our shares;
●
Actions
by our rivals;
●
Additions
or departures of members of our senior administration or different key personnel; and
●
The
passage of laws or different regulatory developments affecting us or our trade.

In
addition, the securities markets have skilled vital worth and quantity fluctuations which have affected and proceed to have an effect on
market worth of fairness securities of many firms. These fluctuations have typically been unrelated or disproportionate to the working
efficiency of explicit firms. These broad market fluctuations, in addition to normal financial, systemic, political and market circumstances,
reminiscent of recessions, lack of investor confidence, rate of interest modifications, or worldwide forex fluctuations, might negatively have an effect on
the market worth of our shares.

If
any of the foregoing happens, it might trigger our inventory worth to fall and should expose us to securities class motion litigation that, even
if unsuccessful, might be expensive to defend and a distraction to administration.

The
buying and selling marketplace for our frequent shares shall be influenced by the analysis and reviews that fairness analysis analysts publish about
us and our enterprise. The value of our frequent shares might decline if a number of securities analysts downgrade our frequent
shares or if these analysts challenge a promote suggestion or different unfavorable commentary or stop publishing reviews about us or our enterprise.
If a number of of the analysts who elect to cowl us downgrade our frequent shares, our share worth might decline quickly. If one
or extra of those analysts stop protection of us, we might lose visibility out there, which in flip might trigger our frequent share
worth and buying and selling quantity to say no.

We
don’t intend to pay dividends on our frequent shares.

We
intend to retain all of our earnings, if any, for the foreseeable future to finance the operation and growth of our enterprise and do
not anticipate paying money dividends. Any future dedication to pay dividends shall be on the discretion of our board of administrators,
topic to compliance with relevant legislation and any contractual provisions, and can rely on, amongst different elements, our outcomes of operations,
monetary situation, capital necessities and different elements that our board of administrators deems related. Consequently, it’s best to count on
to obtain a return in your funding in our frequent shares provided that the market worth of the frequent shares will increase, which
might by no means happen.

Future
gross sales, or the notion of future gross sales, of our frequent inventory might depress the value of our frequent inventory.

As
of July 31, 2021, we’ve got 29,979,573 excellent frequent shares.
Of those shares, 6,562,001 shares are within the public float or are eligible for re-sale underneath Rule 144. All remaining frequent
shares excellent are “restricted securities” inside the which means of Rule 144. Extra gross sales of our frequent shares within the
public market after the date hereof, or the notion that these gross sales might happen, might trigger the market worth of our frequent shares
to say no.

Dangers
regarding our enterprise

Our
merchandise face intense competitors.

Slinger
is a client merchandise firm and the relative recognition of tennis and numerous sports activities and health actions and altering design developments
have an effect on the demand for our merchandise. The athletic tools trade is very aggressive each within the U.S. and worldwide. We compete
internationally with a big variety of athletic and sports activities tools firms and huge firms having diversified traces of
athletic and sports activities tools. We additionally compete with different firms for the manufacturing capability of impartial producers that
produce our merchandise. Our on-line digital e-commerce operations compete with model wholesalers or specialist retailers.

Product
choices, applied sciences, advertising expenditures (together with expenditures for promoting and endorsements), pricing, prices of manufacturing,
customer support, digital commerce platforms and social media presence are areas of intense competitors. This, along with fast modifications
in know-how and client preferences within the markets for athletic and sports activities tools, represent vital threat elements in our operations.
As well as, the aggressive nature of retail together with shifts within the methods by which customers are purchasing, and the rising development of digital
commerce, constitutes a threat issue implicating our on-line and wholesale operations. If we don’t adequately and well timed anticipate and
reply to our rivals, our prices might enhance or the buyer demand for our merchandise might decline considerably.

We
depend on technical innovation and high-quality merchandise to compete out there for our merchandise.

Analysis
and improvement performs a key position in technical innovation. We rely on specialists within the fields of engineering, industrial design, sustainability
and associated fields, in addition to different consultants to develop and take a look at cutting-edge efficiency merchandise. Whereas we try to provide merchandise
that assist to boost participant efficiency, if we fail to introduce technical innovation in our merchandise, client demand for our merchandise
might decline, and if we expertise issues with the standard of our merchandise, we might incur substantial expense to treatment the issues.

Failure
to proceed to acquire or preserve high-quality endorsers of our merchandise might hurt our enterprise.

We
set up relationships with skilled athletes, in addition to different public figures reminiscent of educating execs and influencers, to develop,
consider and promote our merchandise, in addition to set up product authenticity with customers. Nonetheless, as competitors in our trade
has elevated, the prices related to establishing and retaining such sponsorships and different relationships have elevated. If we’re
unable to keep up our present associations with skilled athletes, or different public figures, or to take action at an inexpensive value, we
might lose the excessive visibility or on-field authenticity related to our merchandise, and we could also be required to switch and considerably
enhance our advertising investments. Consequently, our manufacturers, web revenues, bills and profitability might be harmed. Moreover, if
sure endorsers have been to cease utilizing our merchandise opposite to their endorsement agreements, our enterprise might be adversely affected.
As well as, actions taken by athletes or different endorsers, related to our merchandise that hurt the reputations of these athletes or
endorsers, might additionally severely hurt our model picture with customers and, in consequence, might have an adversarial impact on our gross sales and monetary
situation. As well as, poor efficiency by our endorsers, a failure to proceed to accurately establish future athletes, public figures
or sports activities organizations, to make use of and endorse our merchandise or a failure to enter into cost-effective endorsement preparations with outstanding
athletes, public figures, and sports activities organizations might adversely have an effect on our model, gross sales and profitability.

Our
enterprise could also be affected by seasonality, which might lead to fluctuations in our working outcomes.

We
count on to expertise average fluctuations in combination gross sales quantity throughout the 12 months. We count on revenues within the first and fourth fiscal
quarters to exceed these within the second and third fiscal quarters. Nonetheless, the combo of product gross sales might differ significantly from time to
time on account of modifications in seasonal and geographic demand for tennis and different sports activities tools and in reference to the timing
of serious sporting occasions, reminiscent of any Grand Slam tennis match and, over time, different sports activities competitions. As well as, our
prospects might cancel orders, change supply schedules or change the combo of merchandise ordered with minimal discover. Consequently, we might
not have the ability to precisely predict our quarterly gross sales. Accordingly, our outcomes of operations are prone to fluctuate considerably from
interval to interval. This seasonality, together with different elements which are past our management, together with normal financial circumstances, modifications
in client preferences, climate circumstances, availability of import quotas, transportation disruptions and forex trade price fluctuations,
might adversely have an effect on our enterprise and trigger our outcomes of operations to fluctuate. Our working margins are additionally delicate to a quantity
of further elements which are past our management, together with manufacturing and transportation prices, shifts in product gross sales combine and
geographic gross sales developments, all of which we count on to proceed. Outcomes of operations in any interval shouldn’t be thought of indicative
of the outcomes to be anticipated for any future interval.

We
could also be adversely affected by the monetary well being of our prospects.

We
prolong credit score to our tennis wholesale and tennis specialist retail prospects primarily based on an evaluation of a buyer’s monetary situation,
typically with out requiring collateral. To help within the scheduling of manufacturing and the transport of our merchandise, we provide our distributor
companions the chance to position orders three months forward of supply underneath our direct ship ordering program. These advance orders
could also be canceled underneath sure circumstances, and the danger of cancellation might enhance when coping with financially unstable distribution
companions fighting financial uncertainty. Prior to now, some sports activities prospects have skilled monetary difficulties as much as and together with
bankruptcies. Such future occasions would have an adversarial impact on our gross sales, our skill to gather on receivables and our monetary situation.
When the retail financial system weakens or as client conduct shifts, retailers could also be extra cautious with orders. A slowing or altering financial system
in our key markets might adversely have an effect on the monetary well being of our prospects, which in flip might have an adversarial impact on our outcomes
of operations and monetary situation. As well as, product gross sales are dependent partly on prime quality merchandising and an interesting
retail atmosphere to draw customers, which requires persevering with investments by retailers. Retailers that have monetary difficulties
might fail to make such investments or delay them, leading to decrease gross sales and orders for our merchandise.

Failure
to precisely forecast client demand might result in extra inventories or stock shortages, which might lead to decreased working
margins, lowered money flows and hurt to our enterprise.

To
meet anticipated demand for our merchandise, we buy merchandise from producers exterior of our direct ship ordering program and in
advance of buyer orders, which we maintain in stock and resell to prospects. There’s a threat we could also be unable to promote extra merchandise
ordered from producers. Stock ranges in extra of buyer demand might lead to stock write-downs, and the sale of extra
stock at discounted costs might considerably impair our model picture and have an adversarial impact on our working outcomes, monetary
situation and money flows. Conversely, if we underestimate client demand for our merchandise or if our producers fail to produce merchandise
we require on the time we want them, we might expertise stock shortages. Stock shortages may delay shipments to prospects, negatively
influence retailer, distributor and client relationships and diminish model loyalty. The problem in forecasting demand additionally makes it
tough to estimate our future outcomes of operations, monetary situation and money flows from interval to interval. A failure to precisely
predict the extent of demand for our merchandise might adversely have an effect on our web revenues and web revenue, and we’re unlikely to forecast
such results with any certainty prematurely.

Consolidation
of shops or focus of retail market share amongst just a few retailers might enhance and focus our credit score threat and impair our
skill to promote merchandise.

The
sports activities tools retail markets in some international locations are dominated by just a few massive athletic tools retailers with many shops. These retailers
have prior to now elevated their market share by increasing via acquisitions and development of further shops. These conditions
focus our credit score threat with a comparatively small variety of retailers, and, if any of those retailers have been to expertise a scarcity
of liquidity or client conduct shifts away from conventional retail, it could enhance the danger that their excellent payables to
us will not be paid. As well as, rising market share focus amongst one or just a few retailers in a selected nation or area
will increase the danger that if any one in all them considerably reduces their purchases of our merchandise, we could also be unable to discover a ample
variety of different shops for our merchandise to maintain the identical degree of gross sales and revenues.

If
the technology-based programs that give our customers the flexibility to buy with us on-line don’t perform successfully, our working outcomes,
in addition to our skill to develop our digital commerce enterprise globally, might be materially adversely affected.

Many
of our customers store with us via our digital platforms. More and more, customers are utilizing mobile-based units and functions
to buy on-line with us and with our rivals and to do comparability purchasing. We’re more and more utilizing social media and proprietary
cell functions to work together with our customers and as a way to boost their purchasing expertise. Any failure on our half to supply
engaging, efficient, dependable, user-friendly digital commerce platforms that supply a large assortment of merchandise with fast supply
choices and that frequently meet the altering expectations of web shoppers might place us at a aggressive drawback, lead to
the lack of digital commerce and different gross sales, hurt our repute with customers, have a fabric adversarial influence on the expansion of our
digital commerce enterprise globally and will have a fabric adversarial influence on our enterprise and outcomes of operations. Dangers particular
to our digital commerce enterprise additionally embody legal responsibility for on-line content material. Our failure to efficiently reply to those dangers may
adversely have an effect on gross sales in our digital commerce enterprise, in addition to injury our repute and types. Many
elements distinctive to e-commerce operations, a few of that are past our management, pose dangers and uncertainties. Dangers embody, however will not be
restricted to bank card fraud or information mismanagement.

We
are topic to information safety and privateness dangers that would negatively have an effect on our outcomes, operations or repute.

In
addition to our personal delicate and proprietary enterprise data, we deal with transactional and private details about our prospects
and customers of our digital experiences, which embody on-line distribution channels and product engagement, adaptive merchandise and private
health functions. Hackers and information thieves are more and more subtle and function social engineering, reminiscent of phishing, and large-scale,
complicated automated assaults that may evade detection for lengthy durations of time. Any breach of our or our service suppliers’ community,
or different vendor programs, might outcome within the lack of confidential enterprise and monetary information, misappropriation of our customers’,
customers’ or workers’ private data or a disruption of our enterprise. Any of those outcomes might have a fabric adversarial
impact on our enterprise, together with undesirable media consideration, impairment of our client and buyer relationships, injury to our repute;
leading to misplaced gross sales and customers, fines, lawsuits, or vital authorized and remediation bills. We additionally might must expend vital
assets to guard in opposition to, reply to and/or redress issues brought on by any breach. As well as, we should adjust to more and more
complicated and rigorous regulatory requirements enacted to guard enterprise and private information within the U.S., Europe and elsewhere.

Failure
of our contractors or our licensees’ contractors to adjust to native legal guidelines and different requirements might hurt our enterprise.

We
work with contractors exterior of the U.S. to fabricate our merchandise. We require the contractors that instantly manufacture our
merchandise and our licensees that make merchandise utilizing our mental property (together with, not directly, their contract producers) to
adjust to environmental, well being and security requirements for the good thing about staff. We additionally require these contractors to adjust to relevant
requirements for product security. However their contractual obligations, from time-to-time contractors might not adjust to
such requirements or relevant native legislation or our licensees might fail to implement such requirements or relevant native legislation on their contractors.
Important or persevering with noncompliance with such requirements and legal guidelines by a number of contractors might hurt our repute or lead to
a product recall and, in consequence, might have an adversarial impact on our gross sales and monetary situation. Unfavourable publicity relating to manufacturing
strategies, alleged practices or office or associated circumstances of any of our suppliers, producers or licensees might adversely have an effect on
our model picture and gross sales and pressure us to find various suppliers, producers or licenses.

Our
worldwide operations contain inherent dangers which might lead to hurt to our enterprise.

All
of our tools is manufactured exterior of the U.S. with a big quantity of our merchandise being additionally offered exterior of the U.S.
Accordingly, we’re topic to the dangers typically related to world commerce and doing enterprise overseas, which embody overseas
legal guidelines and laws, various client preferences throughout geographic areas, political unrest, disruptions or delays in cross-border
shipments and modifications in financial circumstances in international locations by which our merchandise are manufactured or the place we promote merchandise. This consists of,
for instance, the uncertainty surrounding the impact of Brexit, together with modifications to the authorized and regulatory framework that apply to
the UK and its relationship with the European Union, in addition to new and proposed modifications affecting tax legal guidelines and commerce coverage
within the U.S. and elsewhere as additional described in different dangers on this part. The U.S. presidential administration has indicated
a deal with coverage reforms that discourage U.S. companies from outsourcing manufacturing and manufacturing actions to overseas jurisdictions,
together with via tariffs or penalties on items manufactured exterior the U.S., which can require us to alter the best way we conduct enterprise
and adversely have an effect on our outcomes of operations. The administration has additionally focused the precise practices of sure U.S. multinational
companies in public statements which, if directed at us, might hurt our repute or in any other case negatively influence our enterprise.

We
might be topic to modifications in tax charges, adoption of recent tax legal guidelines, further tax liabilities or elevated volatility in our efficient
tax price.

We
are topic to the tax legal guidelines within the U.S. and quite a few overseas jurisdictions. Present financial and political circumstances make tax
legal guidelines and laws, or their interpretation and utility, in any jurisdiction topic to vital change. On December 22, 2017,
the U.S. enacted the Tax Cuts and Jobs Act (the “Tax Act”), which incorporates numerous vital modifications to earlier U.S.
tax legal guidelines that influence us, together with provisions for a one-time transition tax on deemed repatriation of undistributed overseas earnings,
and a discount within the company tax price from 35% to 21% for tax years starting after December 31, 2017, amongst different modifications. The Tax
Act additionally transitions U.S. worldwide taxation from a worldwide system to a modified territorial system and consists of base erosion prevention
measures on non-U.S. earnings, which has the impact of subjecting sure earnings of our overseas subsidiaries to U.S. taxation.

We
earn a considerable portion of our revenue in overseas international locations and are topic to the tax legal guidelines of these jurisdictions. There have been
proposals to reform overseas tax legal guidelines that would considerably influence how U.S. multinational companies are taxed on overseas earnings.
Though we can’t predict whether or not or in what type these proposals will cross, a number of of the proposals thought of, if enacted into legislation,
might have an adversarial influence on our revenue tax expense and money flows.

Parts
of our operations are topic to a lowered tax price or are freed from tax underneath numerous tax holidays and rulings. We additionally make the most of tax rulings
and different agreements to acquire certainty in remedy of sure tax issues. These holidays and rulings expire in entire or partly from
time to time and could also be prolonged when sure circumstances are met or terminated if sure circumstances will not be met. The influence of any modifications
in circumstances could be the lack of certainty in remedy thus doubtlessly impacting our efficient revenue tax price.

We
might also be topic to the examination of our tax returns by the U.S. Inner Income Service (“IRS”) and different tax
authorities. We often assess the probability of an adversarial final result ensuing from these examinations to find out the adequacy of
our provision for revenue taxes. Though we imagine our tax provisions are enough, the ultimate dedication of tax audits and any associated
disputes might be materially completely different from our historic revenue tax provisions and accruals. The outcomes of audits or associated disputes
might have an adversarial impact on our monetary statements for the interval or durations for which the relevant closing determinations are
made. For instance, we and our subsidiaries are additionally engaged in numerous intercompany transactions throughout a number of tax jurisdictions.
Though we imagine we’ve got clearly mirrored the economics of those transactions and the right native switch pricing documentation
is in place, tax authorities might suggest and maintain changes that would lead to modifications which will influence our mixture of earnings in
international locations with differing statutory tax charges.

Our
merchandise are topic to dangers related to abroad sourcing, manufacturing and financing.

The
principal supplies utilized in our merchandise (e.g., injection molded plastics, polyester, electrical motors, distant controls) can be found
in international locations the place our manufacturing takes place. Our merchandise are dependent upon the flexibility of our unaffiliated contract producers
to find, practice, make use of and retain enough personnel. Slinger contractors and suppliers purchase uncooked supplies and are topic to wage charges
which are oftentimes regulated by the governments of the international locations by which our merchandise are manufactured.

There
might be a big disruption within the provide of uncooked supplies from present sources or, within the occasion of a disruption, our contract
producers won’t have the ability to find various suppliers of supplies of comparable high quality at a suitable worth or in any respect.
Additional, our unaffiliated contract producers have skilled and should proceed to expertise sooner or later, sudden will increase
in work wages, whether or not authorities mandated or in any other case and will increase in compliance prices as a result of governmental regulation regarding sure
metals used within the manufacturing of our merchandise. As well as, we can’t be sure that our unaffiliated producers shall be in a position
to fill our orders in a well timed method. If we expertise vital will increase in demand, or reductions within the availability of supplies,
or want to interchange an present producer, there could be no assurance further provides of uncooked supplies or further manufacturing
capability shall be accessible when required on phrases acceptable to us, or in any respect, or that any provider or producer would allocate ample
capability to us to be able to meet our necessities. As well as, even when we’re in a position to broaden present or discover new manufacturing or sources
of supplies, we might encounter delays in manufacturing and added prices on account of the time it takes to coach suppliers and producers
in our strategies, merchandise, high quality management requirements and labor, well being and security requirements. Any delays, interruption or elevated prices
in labor or wages, or the availability of supplies or manufacture of our merchandise might have an adversarial impact on our skill to fulfill retail
buyer and client demand for our merchandise and lead to decrease revenues and web revenue each within the short- and long-term.

As a result of
impartial producers make all of our merchandise exterior of our principal gross sales markets, our merchandise have to be transported by third
events over massive geographic distances. Delays within the cargo or supply of our merchandise as a result of availability of transportation,
work stoppages, port strikes, infrastructure congestion or different elements, and prices and delays related to consolidating or transitioning
between producers, might adversely influence our monetary efficiency. As well as, manufacturing delays or sudden demand for our
merchandise might require us to make use of quicker, however dearer, transportation strategies reminiscent of air freight, which might adversely have an effect on our
revenue margins. The price of oil is a major factor in manufacturing and transportation prices, so will increase within the worth of petroleum
merchandise can adversely have an effect on our revenue margins. Adjustments in U.S. commerce insurance policies, together with new and potential modifications to import tariffs
and present commerce insurance policies and agreements, might even have a big influence on our actions in overseas jurisdictions, and will
adversely have an effect on our outcomes of operations.

We
rely considerably on data know-how to function our enterprise, together with our provide chain and retail operations, and any failure,
inadequacy or interruption of that know-how might hurt our skill to successfully function our enterprise.

We
are closely depending on data know-how programs and networks, together with the Web and third-party providers (“Info
Know-how Techniques”), throughout our provide chain, together with product design, manufacturing, forecasting, ordering, manufacturing, transportation,
gross sales and distribution, in addition to for processing monetary data for exterior and inside reporting functions, retail operations
and different enterprise actions. Info Know-how Techniques are vital to lots of our working actions and our enterprise processes
they usually could also be negatively impacted by any service interruption or shutdown. For instance, our skill to successfully handle and preserve
our stock and to ship merchandise to prospects on a well timed foundation relies upon considerably on the reliability of those Info Know-how
Techniques. We now have applied Info Know-how Techniques in all the geographical areas by which we function. Our work to combine,
safe and improve these programs and associated processes in our world operations is ongoing and Slinger will proceed to put money into these
efforts. The failure of those programs to function successfully, together with on account of safety breaches, viruses, hackers, malware,
pure disasters, vendor enterprise interruptions or different causes, or failure to correctly preserve, shield, restore or improve programs,
or issues with transitioning to upgraded or substitute programs might trigger delays in product achievement and lowered effectivity of
our operations, might require vital capital investments to remediate the issue which will not be ample to cowl all eventualities,
and should have an adversarial impact on our repute, outcomes of operations and monetary situation.

We
additionally use Info Know-how Techniques to course of monetary data and outcomes of operations for inside reporting functions and
to adjust to regulatory monetary reporting, authorized and tax necessities. If Info Know-how Techniques endure extreme injury, disruption
or shutdown and our enterprise continuity plans, or these of our distributors, don’t successfully resolve the problems in a well timed method, we
might expertise delays in reporting our monetary outcomes, which might lead to misplaced revenues and income, in addition to reputational
injury. Moreover, we rely on Info Know-how Techniques and private information assortment for digital advertising, digital commerce,
client engagement and the advertising and use of our digital services and products. We additionally depend on our skill to interact in digital
communications all through the world between and amongst our workers in addition to with different third events, together with prospects, suppliers,
distributors and customers. Any interruption in Info Know-how Techniques might impede our skill to interact within the digital house and outcome
in misplaced revenues, injury to our repute, and lack of customers.

Our
monetary outcomes could also be adversely affected if substantial investments in companies and operations fail to provide anticipated returns.

From
time to time, we might put money into know-how, enterprise infrastructure, new companies, product providing and manufacturing innovation and
growth of present companies, reminiscent of our digital commerce operations, which require substantial money investments and administration
consideration. We imagine cost-effective investments are important to enterprise progress and profitability; nonetheless, vital investments
are topic to typical dangers and uncertainties inherent in creating a brand new enterprise or increasing an present enterprise. The failure of
any vital funding to supply anticipated returns or profitability might have a fabric adversarial impact on our monetary outcomes
and divert administration consideration from extra worthwhile enterprise operations.

We
are topic to a fancy array of legal guidelines and laws, which might have an adversarial impact on our enterprise, monetary situation and outcomes
of operations.

As
a world enterprise, we’re topic to and should adjust to intensive legal guidelines and laws within the U.S. and different jurisdictions by which
we’ve got operations and distribution channels. If we or our workers, brokers, suppliers, and different companions fail to adjust to any of
these legal guidelines or laws, such failure might topic us to fines, sanctions or different penalties that would negatively have an effect on our repute,
enterprise, monetary situation and outcomes of operations. We could also be concerned in numerous forms of claims, lawsuits, regulatory proceedings
and authorities investigations regarding our enterprise, our merchandise and the actions of our workers and representatives, together with
contractual and employment relationships, product legal responsibility, antitrust, trademark rights and a wide range of different issues. It’s not attainable
to foretell with certainty the end result of any such authorized or regulatory proceedings or investigations, and we might sooner or later incur
judgments, fines or penalties, or enter into settlements of lawsuits and claims that would have a fabric adversarial impact on our enterprise,
monetary situation and outcomes of operations and negatively influence our repute. The worldwide nature of our enterprise means authorized and
compliance dangers, reminiscent of anti-bribery, anti-corruption, fraud, commerce, environmental, competitors, privateness and different regulatory issues,
will live on and extra authorized proceedings and different contingencies will come up every so often, which might adversely have an effect on
us. As well as, the adoption of recent legal guidelines or laws, or modifications within the interpretation of present legal guidelines or laws, might outcome
in vital unanticipated authorized and reputational dangers. Any present or future authorized or regulatory proceedings might divert administration’s
consideration from our operations and lead to substantial authorized charges.

The
sale of a lot of shares of frequent inventory by our principal shareholder might depress the market worth of our frequent inventory.

As
of July 31, 2021, Yonah Kalfa beneficially owned roughly 67% of our frequent inventory excellent. The shares might
develop into accessible for resale, topic to the necessities of the U.S. securities legal guidelines. The sale or prospect of a sale of a considerable
variety of these shares might have an adversarial impact available on the market worth of our frequent inventory.

If
we fail to stay present on our reporting necessities, we might be faraway from the OTC Bulletin Board, which might restrict the flexibility
of broker-dealers to promote our securities within the secondary market.

Corporations
buying and selling on the Over the Counter (OTC) Bulletin Board have to be reporting issuers underneath Part 12 of the Securities Change Act of 1934,
as amended, and have to be present of their reviews underneath Part 13, to be able to preserve worth citation privileges on the OTC Bulletin
Board. Consequently, the market liquidity for our securities might be severely adversely affected by limiting the flexibility of broker-dealers
to promote our securities and the flexibility of shareholders to promote their securities within the secondary market. As well as, we could also be
unable to get relisted on the OTC Bulletin Board, which can have an adversarial materials impact on the Firm.

Our
frequent inventory is taken into account a “penny inventory,” any funding in our shares is taken into account to be a high-risk funding and
is topic to restrictions on marketability.

Our
frequent inventory is taken into account a “penny inventory” as a result of it’s quoted on the OTCQB and it trades for lower than $5.00 per share.
The OTCQB is usually considered a much less environment friendly buying and selling market than the NASDAQ Capital or World Markets or the New York Inventory Change.
The SEC has guidelines that regulate broker-dealer practices in reference to transactions in “penny shares.” Penny shares typically
are fairness securities with a worth of lower than $5.00 per share (aside from securities registered on sure nationwide securities exchanges
or quoted on the NASDAQ system, offered that present worth and quantity data with respect to transactions in such securities is
offered by the trade or system). The penny inventory guidelines require a broker-dealer, previous to a transaction in a penny inventory not in any other case
exempt from these guidelines, to ship a standardized threat disclosure doc ready by the SEC, which specifies details about penny
shares and the character and significance of dangers of the penny inventory market. The broker-dealer additionally should present the shopper with bid
and supply quotations for the penny inventory, the compensation of the broker-dealer and any salesperson within the transaction, and month-to-month account
statements indicating the market worth of every penny inventory held within the buyer’s account. As well as, the penny inventory guidelines require
that, previous to effecting a transaction in a penny inventory not in any other case exempt from these guidelines, the broker-dealer should make a particular
written dedication that the penny inventory is an appropriate funding for the purchaser and obtain the purchaser’s written settlement
to the transaction. These disclosure necessities might have the impact of decreasing the buying and selling exercise within the secondary marketplace for our
frequent inventory. Since our frequent inventory is topic to the laws relevant to penny shares, the market liquidity for our frequent inventory
might be adversely affected as a result of the laws on penny shares might restrict the flexibility of broker-dealers to promote our frequent inventory
and thus your skill to promote our frequent inventory within the secondary market sooner or later. We will present no assurance that our frequent inventory
shall be quoted or listed on the OTCQB, NASDAQ or any trade, even when eligible sooner or later.

ITEM
1B. UNRESOLVED STAFF COMMENTS

Not relevant
to smaller reporting firms.

ITEM
2. PROPERTIES

As
of the date of this report, we don’t personal any properties. The Firm does lease some workplace house underneath short-term leases
with phrases underneath a 12 months.

ITEM
3. LEGAL PROCEEDINGS

We
know of no pending proceedings to which any director, member of senior administration, or affiliate is both a celebration adversarial to us or has
a fabric curiosity adversarial to us.

None
of our govt officers or administrators have (i) been concerned in any chapter proceedings inside the final 5 years, (ii) been convicted
in or has pending any legal proceedings (aside from visitors violations and different minor offenses), (iii) been topic to any order,
judgment or decree enjoining, barring, suspending or in any other case limiting involvement in any sort of enterprise, securities or banking exercise
or (iv) been discovered to have violated any Federal, state or provincial securities or commodities legislation and such discovering has not been reversed,
suspended or vacated.

ITEM
4. MINE SAFETY DISCLOSURES

Not
relevant.

PART
II

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

Market
Info

Our
shares of frequent inventory have been quoted on the OTCQB by the OTC Markets Group Inc. of the Monetary Business Regulatory Authority, Inc.
(“FINRA”) underneath the image “LAZX” since Could 2019 and “SLBG” since November 2019.

On
July 30, 2021, the inventory closed at $3.20.

Holders
of File

On
July 31, 2021, there have been 118 holders of document of our frequent inventory, as reported by the Firm’s switch agent.
In computing the variety of holders of document, every broker-dealer and clearing company holding shares on behalf of its prospects is
counted as a single shareholder.

Dividends

We
have by no means declared or paid any money dividends on our frequent inventory nor can we anticipate paying any within the foreseeable future. Moreover,
we count on to retain any future earnings to finance our operations and growth. The fee of money dividends sooner or later shall be
on the discretion of our Board of Administrators.

Fairness
Compensation Plans

On
November 11, 2020, the Board of Administrators of the Firm accepted the Slinger Bag Inc. World Share Incentive Plan (2020), or the 2020
Plan, which was accepted by stockholders holding within the combination 19,994,700 shares of the Firm’s frequent inventory, or roughly
75.4% of the Firm’s frequent inventory excellent on such date. The 2020 Plan offers for the grant of awards that are incentive
inventory choices (“ISOs”), non-qualified inventory choices (“NQSOs”), unrestricted inventory, restricted inventory, restricted
inventory models, efficiency inventory and different equity-based and money awards or any mixture of the foregoing, to eligible key administration
workers, non-employee administrators, and non-employee consultants of the Firm or any of its subsidiaries (every a “participant”)
(nonetheless, solely workers of the Firm and its subsidiaries are eligible for incentive inventory possibility awards).

The
Firm has reserved a complete of 15,000,000 shares for issuance underneath awards to be made underneath the 2020 Plan, all of which can, however want
not, be issued in reference to ISOs. To the extent that an award lapses, expires, is canceled, is terminated unexercised or ceases
to be exercisable for any cause, or the rights of its holder terminate, any shares topic to such award shall once more be accessible for
the grant of a brand new award. The 2020 Plan shall proceed in impact, except sooner terminated, till the tenth (tenth) anniversary
of the date on which it was adopted by the Board of Administrators (besides as to awards excellent on that date). The Board of Administrators
in its discretion might terminate the 2020 Plan at any time with respect to any shares for which awards haven’t theretofore been
granted; offered, nonetheless, that the 2020 Plan’s termination shall not materially and adversely impair the rights of a holder,
with out the consent of the holder, with respect to any award beforehand granted.

Future
new hires, non-employee administrators and extra non-employee consultants are eligible to take part within the 2020 Plan as effectively. The quantity
of awards to be granted to officers, non-employee administrators, workers and non-employee consultants can’t be decided at the moment
because the grant of awards depends upon numerous elements reminiscent of hiring necessities and job efficiency.

Current
Gross sales of Unregistered Securities; Use of Proceeds from Registered Securities

On
April 11, 2021, the Firm issued 272,332 shares of its frequent inventory for the conversion and full satisfaction of the Firm’s
obligations of a $1,000,000 promissory be aware.

On
April 11, 2021 and on April 13, 2021, the Firm issued 18,750 and 5,000 shares of its frequent inventory to 2 distributors as compensation for
advertising and advisory providers.

On
Could 26, 2021, the Firm issued 1,636,843 shares of its frequent inventory for the conversion and full satisfaction of the Firm’s
$6,220,0000 in notes payable to its associated get together lender.

On
June 23, 2021, the Firm issued 540,000 shares of its frequent inventory in satisfaction of the primary tranche associated to the Firm’s
buy of Basis Sports activities Techniques, LLC.

Throughout
the three months ended July 31, 2021, the Firm issued 68,965 shares of its frequent inventory to 1 vendor and two workers as compensation
for advertising and different providers rendered.

Throughout
the three months ended July 31, 2021, the Firm granted an combination complete of 90,937 shares of its frequent inventory to 6 model ambassadors
as compensation for providers.

Issuer
Purchases of Fairness Securities

None.

ITEM
6. SELECTED FINANCIAL DATA

Not relevant
to smaller reporting firms.

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

Overview

Lazex
Inc. (“Lazex”) was included underneath the legal guidelines of the State of Nevada on July 12, 2015. On August 23, 2019, the bulk
proprietor of Lazex entered right into a Inventory Buy Settlement with Slinger Bag Americas Inc., a Delaware company (“Slinger Bag Americas”),
which was 100% owned by Slinger Bag Ltd. (“SBL”), an Israeli firm. In reference to the Inventory Buy Settlement,
Slinger Bag Americas acquired 20,000,000 shares of frequent inventory of Lazex for $332,239. On September 16, 2019, SBL transferred its possession
of Slinger Bag Americas to Lazex in trade for the 20,000,000 shares of Lazex acquired on August 23, 2019. On account of these transactions,
Lazex owned 100% of Slinger Bag Americas and the only shareholder of SBL owned 20,000,000 shares of frequent inventory (roughly 82%)
of Lazex. Efficient September 13, 2019, Lazex modified its identify to Slinger Bag Inc.

On
October 31, 2019, Slinger Bag Americas acquired management of Slinger Bag Canada, Inc., (“Slinger Bag Canada”) a Canadian firm
included on November 3, 2017. There have been no property, liabilities or historic operational exercise of Slinger Bag Canada.

On
February 10, 2020, Slinger Bag Americas grew to become the 100% proprietor of SBL, together with SBL’s wholly owned subsidiary Slinger Bag Worldwide
(UK) Restricted (“Slinger Bag UK”), which was shaped on April 3, 2019. On February 10, 2021, Zehava Tepler, the
proprietor of SBL, contributed Slinger Bag UK to Slinger Bag Americas for no consideration.

The
operations of Slinger Bag Inc., Slinger Bag Americas, Slinger Bag Canada, Slinger Bag UK and SBL are collectively referred to
because the “Firm.”

The
Firm operates within the sporting and athletic items enterprise. The Firm is the proprietor of the Slinger Launcher, which is a transportable tennis
ball launcher, in addition to different related tennis equipment.

Efficient
February 25, 2020, the Firm elevated the variety of licensed shares of frequent inventory from 75,000,000 to 300,000,000 through a four-to-one
ahead cut up of its excellent shares of frequent inventory. All share and per share data contained on this report have been retroactively
adjusted to replicate the influence of the inventory cut up.

Important
Accounting Insurance policies and Estimates

Foundation
of Presentation

The
consolidated monetary statements of the Firm are offered in accordance with accounting rules typically accepted within the United
States of America (“GAAP”). On account of the transactions described above, the accompanying consolidated monetary statements
embody the mixed outcomes of Slinger Bag Inc., Slinger Bag Americas, Slinger Bag Canada, Slinger Bag UK and SBL for the years
ended April 30, 2021 and 2020. The contribution of the web property of SBL is mirrored as an fairness contribution at historic
value on Could 1, 2019, the start of the earliest interval by which the entities have been underneath frequent management. There was no historic exercise
in Slinger Bag Americas or Slinger Bag Canada previous to Could 1, 2019. All intercompany accounts and transactions have been eradicated in
consolidation.

Use
of Estimates

The
preparation of consolidated monetary statements in conformity with GAAP requires administration to make estimates and assumptions that have an effect on
the quantities reported within the monetary statements and accompanying notes. Accordingly, precise outcomes might differ from
these estimates.

Valuation
of Stock

Stock
is valued on the decrease of the fee (decided principally on a first-in, first-out foundation) or web realizable worth. The Firm’s
valuation of stock consists of stock reserves for stock that shall be offered under value and the influence of stock shrink. Stock
reserves are primarily based on historic data and assumptions about future demand and stock shrink developments. It’s attainable that modifications
to stock reserve estimates might be required in future durations as a result of modifications in market circumstances.

Income
Recognition

The
Firm acknowledges income in accordance with Accounting Requirements Codification (“ASC”) 606,
the core precept of which is that an entity ought to acknowledge income to depict the switch of promised items or providers to prospects
in an quantity that displays the consideration to which the entity expects to be entitled to obtain in trade for these items or providers.
The Firm acknowledges income for its efficiency obligation related to its contracts with prospects at a cut-off date as soon as merchandise
are shipped. Quantities collected from prospects prematurely of transport merchandise ordered are mirrored as deferred income
on the accompanying consolidated steadiness sheets. The Firm’s normal phrases are non-cancelable and don’t present for the
right-of-return, aside from for faulty merchandise coated underneath the Firm’s normal guarantee. The Firm has not traditionally
skilled any vital returns or guarantee points.

Honest
Worth of Monetary Devices

Honest
worth of economic and non-financial property and liabilities is outlined as an exit worth, representing the quantity that might be acquired
to promote an asset or paid to switch a legal responsibility in an orderly transaction between market members. The three-tier hierarchy for
inputs utilized in measuring honest worth, which prioritizes the inputs used within the methodologies of measuring honest worth for property and liabilities,
is as follows:

Degree
1 — Quoted costs in lively markets for similar property or liabilities

Degree
2 — Observable inputs aside from quoted costs in lively markets for similar property and liabilities

Degree
3 — Unobservable pricing inputs out there

Monetary
property and monetary liabilities are labeled of their entirety primarily based on the bottom degree of enter that’s vital to the honest
worth measurements. Our evaluation of the importance of a selected enter to the honest worth measurements requires judgment and should
have an effect on the valuation of the property and liabilities being measured and their categorization inside the honest worth hierarchy.

Earnings
Taxes

Earnings
taxes are accounted for in accordance with the provisions of ASC 740, Accounting for Earnings Taxes. Deferred tax property and liabilities
are acknowledged for the longer term tax penalties attributable to variations between the monetary assertion carrying quantities of present
property and liabilities and their respective tax bases. Deferred tax property and liabilities are measured utilizing enacted tax charges anticipated
to use to taxable revenue within the years by which these momentary variations are anticipated to be recovered or settled. The impact on deferred
tax property and liabilities of a change in tax charges is acknowledged in revenue within the interval that features the enactment date. Valuation
allowances are established, when obligatory, to scale back deferred tax property to the quantities which are extra seemingly than to not be realized.

Lengthy-Lived
Belongings

In
accordance with ASC 360-10, the Firm evaluates long-lived property for impairment at any time when occasions or modifications in circumstances point out
that their web guide worth will not be recoverable. When such elements and circumstances exist, the Firm compares the projected undiscounted
future money flows related to the associated asset or group of property over their estimated helpful lives in opposition to their respective carrying
quantity. If these web undiscounted money flows don’t exceed the carrying quantity, impairment, if any, is predicated on the surplus of
the carrying quantity over the honest worth, primarily based on market worth or discounted anticipated money flows of these property and is recorded within the
interval by which the dedication is made. There was no impairment of long-lived property recognized throughout the 12 months ended April 30, 2021
or 2020.

Valuation
of Warrants

The
Firm grants warrants to key workers and executives as compensation on a discretionary foundation. The Firm additionally grants warrants in
reference to sure be aware payable agreements and different key preparations. The Firm is required to estimate the honest worth
of share-based awards on the measurement date and acknowledge as expense that worth of the portion of the award that’s in the end anticipated
to vest over the requisite service interval.

Current
Accounting Pronouncements

In
December 2019, the FASB issued Accounting Requirements Replace (ASU), 2019-12, Simplifying the Accounting for Earnings Taxes, which
amends ASC 740, Earnings Taxes (ASC 740). This replace is meant to simplify accounting for revenue taxes by eradicating sure exceptions
to the overall rules in ASC 740 and amending present steering to enhance constant utility of ASC 740. This replace is efficient
for fiscal years starting after December 15, 2021. The steering on this replace has numerous components, a few of that are utilized on a
potential foundation and others on a retrospective foundation with earlier utility permitted. The Firm is at present evaluating the impact
of this ASU on the Firm’s monetary statements and associated disclosures.

Outcomes
of Operations for the Years Ended April 30, 2021 and 2020

The
following are the outcomes of our operations for the 12 months ended April 30, 2021 as in comparison with April 30, 2020:

For
the Yr Ended

April 30,
April 30,

2021
2020
Change


  Web gross sales
$10,804,214
$686,179
$10,118,035 Price of gross sales
7,680,290
1,370,897
6,309,393 Gross revenue (loss)
3,123,924
(684,718)
3,808,642


   Working bills:


   Promoting and advertising bills
1,761,154
563,003
1,198,151 Basic and administrative bills
4,749,922
5,291,075
(541,153)Analysis and improvement prices
339,385
179,982
159,403 Transaction prices
–
198,443
(198,443)Whole
working bills
6,850,461
6,232,503
617,958


   Loss from operations
(3,726,537)
(6,917,221)
3,190,684


   Different bills (revenue):


   Amortization of debt low cost
376,506
1,565,174
(1,188,668)Loss on extinguishment of debt
3,030,495
–
3,030,495 Induced conversion loss
51,412
–
51,412 Achieve on change in honest worth of derivatives
(1,939,639)
–
(1,939,639)Curiosity expense – associated get together
608,668
171,918
436,750 Curiosity expense
12,740,781
573,431
12,167,350 Whole
different expense
14,868,223
2,310,523
12,557,700 Loss earlier than revenue taxes
(18,594,760)
(9,227,744)
(9,367,016)Provision for revenue
taxes
–
–
– Web loss
$(18,594,760)
$(9,227,744)
$(9,367,016)

Web
gross sales

Our
web gross sales throughout the 12 months ended April 30, 2021 have been $10,804,214,
which consisted partially of shipped orders associated to our Kickstarter and Indiegogo crowdfunding campaigns initiated in fiscal 12 months
2019, in addition to new orders positioned and fulfilled to customers through our on-line market and to our worldwide distributors. Our web
gross sales throughout the 12 months ended April 30, 2020 have been $686,179 and have been completely associated to our crowdfunding campaigns. As of April 30,
2021 and April 30, 2020, we had deferred income of $99,531 and $179,366, respectively, representing models that haven’t
been shipped at 12 months finish.

Price
of gross sales

Our
value of gross sales throughout the 12 months ended April 30, 2021 have been $7,680,290, which represents the prices of models shipped throughout the interval, and
resulted in a gross revenue of $3,123,924, or 29%. Through the first quarter of the present 12 months, we skilled a gross loss as the majority
of our gross sales in that interval associated to the cargo of preliminary crowdfunding orders. The loss on these shipments was as a result of (1) discounted
pricing on the preliminary crowdfunding orders, (2) as achievement was later than initially scheduled we fulfilled orders with the “deluxe”
model of launcher (together with all options), in addition to tennis balls, each of which elevated prices, and (3) as a result of sanctions by the
U.S. in opposition to Chinese language sourced merchandise, the import obligation was raised on all launchers introduced into the U.S. rising our value of gross sales.
Consequently, our value of gross sales exceeded preliminary gross sales values raised in our crowdfunding campaigns. As of the start of the third quarter,
considerably all the preliminary crowdfunding orders had been fulfilled. Gross sales generated over the last two fiscal quarters represented
new orders positioned and fulfilled throughout the present 12 months by customers and distributors, which resulted in a optimistic gross revenue. Presently,
our value of gross sales is being negatively impacted by the massive enhance in container prices out of Asia. Our value of gross sales throughout the 12 months
ended April 30, 2020 have been $1,370,897, and resulted in a gross lack of $684,718 for the explanations said above regarding our crowdfunding
orders.

Promoting
and advertising bills

Throughout
the 12 months ended April 30, 2021, we incurred promoting and advertising bills of $1,761,154 in contrast with $563,003 throughout the 12 months ended
April 30, 2020. This enhance is basically pushed by a rise in social media promoting, sponsorships, and different investments in our
public relations presence to be able to drive gross sales and construct model consciousness.

Basic
and administrative bills

Basic
and administrative bills consist primarily of compensation, together with share-based compensation, and different employee-related prices,
in addition to authorized charges and costs for skilled providers. Through the 12 months ended April 30, 2021, we incurred normal and administrative
bills of $4,749,922 in contrast with $5,291,075 throughout the 12 months ended April 30, 2020. The lower generally and administrative bills
is basically as a result of a one-time warrant grant to key workers and officers of the Firm within the prior 12 months that resulted in an expense
of $3,741,746, which was partially offset within the present 12 months by a rise in compensation expense as a result of elevated headcount as a
results of the continued progress of the enterprise.

Analysis
and improvement prices

Throughout
the 12 months ended April 30, 2021, we incurred analysis and improvement prices of $339,385 in contrast with $179,982 throughout the 12 months ended April
30, 2020. This enhance is principally pushed by our funding in a brand new platform and app that may combine synthetic intelligence (AI)
know-how to supply extra worth to our prospects.

Transaction
prices

Throughout
the 12 months ended April 30, 2020, we incurred transaction prices related to finishing the Inventory Buy Settlement with Slinger Bag
Americas, in addition to further skilled charges related to being a publicly traded firm.

Different
bills

Throughout
the years ended April 30, 2021 and April 30, 2020, we had different bills totaling $14,868,223 and $2,310,523, respectively.
The rise in different bills for the 12 months ended April 30, 2021 as in comparison with April 30, 2020 was primarily as a result of will increase in loss
on extinguishment of debt of $3,030,495 and induced conversion lack of $51,412 as a result of debt extinguishment transactions throughout the 12 months,
will increase in associated get together curiosity expense as a result of enhance in associated get together be aware payable balances throughout the 12 months, and the rise
in curiosity expense as a result of $12,501,178 cost associated to the warrants and make-whole provision that have been issued along with
a be aware payable that was entered into throughout the 12 months. These will increase have been partially offset by decreases in amortization of debt low cost
of $1,188,668 and the achieve on the change in honest worth of derivatives for the 12 months ended April 30, 2021 of $1,939,639.

Liquidity
and Capital Sources

Our
monetary statements have been ready on a going concern foundation, which assumes we can understand our property and discharge
our liabilities within the regular course of enterprise for the foreseeable future. We had an accrued deficit of $28,823,273 as of April
30, 2021, and extra losses are anticipated within the improvement of the enterprise. Accordingly, there’s substantial doubt about our skill
to proceed as a going concern. Our monetary statements don’t embody any changes associated to the recoverability and classification
of property or the quantities and classification of liabilities that may be obligatory ought to we be unable to proceed as a going concern.

The
skill to proceed as a going concern depends upon our producing worthwhile operations sooner or later and/or having the ability to acquire
the required financing to fulfill our obligations and repay our liabilities arising from regular enterprise operations after they develop into due.
Administration intends to finance working prices over the subsequent twelve months with present money readily available, loans from associated events, and/or
personal placement of debt and/or frequent inventory.

The
following is a abstract of our money flows from working, investing and financing actions for the years ended April 30, 2021
and 2020:

For
the Yr Ended


April
30,

April
30,


2021

2020
Money
flows from working actions

$
(4,517,457
)

$
(4,208,274
)Money
flows from investing actions

$
(30,000
)

$
73,400
Money
flows from financing actions

$
5,420,000

$
4,217,761

We
had money and money equivalents of $928,796 as of April 30, 2021, as in comparison with $79,847 as of April 30, 2020.

Web
money utilized in working actions was $4,517,457 throughout the 12 months ended April 30, 2021, in contrast with $4,208,274 throughout the
12 months ended April 30, 2020. Our money utilized in working actions throughout the 12 months ended April 30, 2021 was primarily the results of our
web lack of $18,594,760 for the 12 months in addition to will increase in stock and accounts receivable 12 months over 12 months, which was partially offset
by non-cash bills of $14,892,030 and will increase in accounts payable and accrued bills, accrued payroll and bonuses and accrued curiosity
– associated get together in addition to a lower in pay as you go bills and different present property 12 months over 12 months. Our web money utilized in working
actions throughout 12 months ended April 30, 2020 was primarily the results of our web lack of $9,227,744 throughout the 12 months in addition to will increase
in stock and pay as you go bills and different present property, which was partially offset by non-cash bills of $5,666,425 in addition to
will increase in accounts payable and accrued bills, accrued payroll and bonuses and accrued curiosity – associated get together.

Web
money utilized in investing actions was $30,000 for the 12 months ended April 30, 2021, in contrast with web money offered by
investing actions of $73,400 for the for 12 months ended April 30, 2020. Investing actions for the 12 months ended April 30, 2021
associated to the acquisition of the Slinger trademark, whereas investing actions for the 12 months ended April 30, 2020 have been the results of $73,400
in money we acquired from the contribution of the web property of Slinger Bag Restricted.

Web
money offered by financing actions was $5,420,000 for the 12 months ended April 30, 2021, in contrast with $4,217,761 for the 12 months
ended April 30, 2020. Money offered by financing actions for the 12 months ended April 30, 2021 consisted of proceeds of $3,300,000
from notes payable with a associated get together, proceeds of $3,120,000 from notes payable, and a reimbursement of notes payable with a associated
get together of $1,000,000. Money offered by financing actions for the 12 months ended April 30, 2020 consisted of proceeds of
$2,100,000 from notes payable with a associated get together, $1,950,000 in proceeds from convertible notes payable, and proceeds of $500,000
from a be aware payable, which was partially offset by a distribution to the bulk shareholder for $332,239.

Description
of Indebtedness

Notes
Payable – Associated Social gathering

On
October 1, 2019, the Firm entered right into a mortgage settlement with a associated get together entity managed by the previous shareholder of
Slinger Bag Canada for borrowings of $500,000 bearing curiosity at 12% each year. All principal and accrued curiosity have been due on demand
underneath the unique settlement. On December 13, 2019, the Firm entered into an Amended and Restated Mortgage Settlement making all
principal and accrued curiosity due on July 15, 2020, which was later amended to increase the due date to September 1, 2021.

On
December 3, 2019, the Firm entered right into a mortgage settlement with the identical associated get together for borrowings of $500,000 bearing curiosity at
12% each year. All principal and accrued curiosity have been due on demand underneath the unique settlement. On December 13, 2019, the Firm
entered into an Amended and Restated Mortgage Settlement rising the rate of interest earned from 12% to 24% each year and making all principal
and accrued curiosity due on July 15, 2020, which was later amended to increase the due date to September 1, 2021.

On
December 11, 2019, the Firm entered right into a mortgage settlement with the identical associated get together for borrowings of $700,000 bearing curiosity
at 24% each year. All principal and accrued curiosity have been due on July 15, 2020. On July 8, 2020, the phrases of the debt have been amended
to increase the due date to January 8, 2021, which was later amended to increase the due date to September 1, 2021.

On
January 6, 2019, the Firm entered right into a mortgage settlement with the identical associated get together for borrowings of $200,000 bearing curiosity at
24% each year. All principal and accrued curiosity have been due on January 8, 2021, which was later amended to increase the due date to September
1, 2021.

On
February 28, 2020, the Firm entered right into a mortgage settlement with the identical associated get together for borrowings of $200,000 bearing curiosity
at 24% each year. All principal and accrued curiosity have been due on February 28, 2021, which was later amended to increase the due
date to September 1, 2021.

On
Could 12, 2020 and July 3, 2020, the Firm entered into mortgage agreements with the identical associated get together for borrowings of $1,000,000
and $500,000, respectively, bearing curiosity at 24% each year. All principal and accrued curiosity have been due on August
31, 2020 and July 3, 2021, respectively, which was later amended to increase the due dates to September 1, 2021.

On
July 8, 2020, the Firm entered right into a Buy Order Financing Settlement (“PO Financing Settlement”) whereby $1,900,000
of the entire $3,600,000 in excellent debt as a result of associated get together as of the date of the settlement was labeled as stock
financing (“PO Financing Quantity”). The PO Financing Quantity, together with any accrued curiosity, is due in full no later than
six months from the efficient date of the PO Financing Settlement, which was later amended to increase the due date to September 1, 2021.
The excellent steadiness of the PO Financing Quantity bears curiosity at a price of two% monthly. The Firm agreed to repay the PO Financing
Quantity along with any accrued, however unpaid, curiosity thereon out of proceeds from the sale of its merchandise, licensing actions,
income to be generated from operations and/or quantities acquired by the Firm from buyers, lenders, financiers, financing sources
or different individuals earlier than making funds of another nature (together with dividends and distributions), apart from funds required
to finance the Firm’s operations.

On
August 10, 2020, the Firm entered right into a mortgage settlement with the identical associated get together for borrowings of $250,000 underneath
the PO Financing Settlement bearing curiosity at 24% each year. All principal and accrued curiosity have been due on August 10, 2021, which
was later amended to increase the due date to September 1, 2021.

On
September 8, 2020, the prevailing associated get together lender agreed to increase the due date of all excellent loans to September 1, 2021.

On
September 15, 2020, the Firm entered right into a mortgage settlement with the identical associated get together for borrowings of $250,000 bearing
curiosity at 9.5% each year and due in full on September 15, 2021. In reference to the mortgage, the Firm issued warrants to the
associated get together lender to buy 125,000 shares of the Firm’s frequent inventory at an train worth of $0.001 per share.
The warrants vest instantly and have a contractual lifetime of 10 years. The be aware was discounted by $70,130 allotted from the valuation
of the warrants issued. The low cost recorded on the be aware is being amortized via the maturity date, which amounted to $43,615
for the 12 months ended April 30, 2021. As of April 30, 2021, the remaining low cost was $26,515.

On
November 24, 2020, the Firm entered right into a mortgage settlement with the identical associated get together for borrowings of $300,000 bearing
curiosity at 9.5% each year and due in full on November 24, 2021. In reference to the mortgage, the Firm issued warrants to the
associated get together lender to buy 125,000 shares of the Firm’s frequent inventory at an train worth of $0.001 per share.
The warrants vest instantly and have a contractual lifetime of 10 years. This be aware was discounted by $88,201 allotted from the
valuation of the warrants issued. The low cost recorded on the be aware is being amortized via the maturity date, which amounted to
$37,939 for the 12 months ended April 30, 2021. As of April 30, 2021, the remaining low cost was $50,262.

On
December 3, 2020, Mont-Saic Investments LLC (“Mont-Saic”) entered into an Project and Conveyance Settlement
with 2490585 Ontario Inc., the Firm’s present associated get together lender (“2490585 Ontario”). In reference to the
settlement, Mont-Saic offered its full proper, title and curiosity in its excellent notes payable amounting to $1,820,000 to 2490585
Ontario, Inc., together with the 1,216,560 shares of frequent inventory beforehand issued to Mont-Saic in reference to the debt settlement
and the rights to obtain the remaining 6,921,299 shares issuable. Subsequent to this cut-off date, the excellent debt of $1,820,000
and all accrued curiosity is payable to 2490585 Ontario and future curiosity will accrue at a price of 9.5% each year per the
price being charged on their different excellent debt. The scheduled maturity date of the debt stays unchanged and is due June 1, 2021.
As of April 30, 2021, there stay 6,921,299 shares issuable associated to this be aware.

On
April 1, 2021, 2490585 Ontario transferred 100% of its proper, title and curiosity in, to and underneath its mortgage agreements with the Firm
within the combination quantity of $6,220,000, its 1,216,560 shares of frequent inventory and proper to obtain an extra 6,921,299 shares
of the Firm’s frequent inventory to 2672237 Ontario Ltd. (“2672237 Ontario”), an affiliated Firm of 2490585
Ontario.

Whole
excellent borrowings from the associated get together lender as of April 30, 2021 and 2020 amounted to $6,220,000 and $2,100,000,
respectively. The excellent quantity is web of complete reductions of $76,777 for a web guide worth of $6,143,223 as of April 30, 2021.

Curiosity
expense associated to this associated get together for the years ended April 30, 2021 and April 30, 2020 amounted to $608,668
and $171,918, respectively. Accrued curiosity as a result of this associated get together as of April 30, 2021 and April 30, 2020 amounted to $747,636
and $138,967, respectively.

Convertible
Notes Payable

On
June 1, 2019, the Firm entered right into a convertible be aware payable settlement with Mont-Saic which offered for borrowings
of $1,700,000 bearing curiosity at a price of 12.6% each year. All excellent quantities have been due on the maturity date 360 days after
the mortgage challenge date. The Firm might repay as much as 50% of the excellent steadiness on the mortgage previous to the maturity date at their discretion.
The excellent principal and accrued curiosity are convertible into shares of the Firm’s frequent inventory at any time on the possibility
of the debtholder at a conversion worth equal to 75% of the bottom closing worth of the frequent inventory as outlined within the settlement. Efficient
June 1, 2020, the Firm and Mont-Saic amended the phrases of the convertible be aware payable settlement to take away the conversion
rights described above and to increase the maturity date to June 1, 2021. On June 30, 2020, the Firm entered right into a mortgage settlement
with Mont-Saic to borrow an extra $120,000, bearing curiosity at 12.6% each year and due in full on June 30, 2021.

On
December 3, 2020, Mont-Saic entered into an Project and Conveyance Settlement with the Firm’s exiting associated get together lender
whereby Mont-Saic offered its full proper, title and curiosity in its excellent notes payable amounting to $1,820,000 to the Firm’s
associated get together lender, together with the 1,216,560 shares of frequent inventory beforehand issued to Mont-Saic in reference to the debt settlement
and the rights to obtain the remaining 6,921,299 shares issuable.

On
November 20, 2019, the Firm entered right into a convertible be aware payable settlement for borrowings of $125,000 bearing curiosity at 12% per
annum. All excellent borrowings and accrued curiosity are due on November 20, 2020. The excellent principal and accrued curiosity are
convertible into shares of the Firm’s frequent inventory at any time on the possibility of the debtholder at a conversion worth equal to
70% of the bottom closing worth of the frequent inventory as outlined within the settlement. On March 2, 2020, the holder of the excellent convertible
be aware payable elected to transform the excellent principal of $125,000 and accrued curiosity of $4,274 into 369,354 shares of the Firm’s
frequent inventory in accordance with the phrases within the settlement. The remaining steadiness excellent was $0 at April 30, 2020.

On
February 11, 2020, the Firm entered right into a convertible be aware payable settlement for borrowings of $125,000 bearing curiosity at 12% per
annum. All excellent borrowings and accrued curiosity are due on February 11, 2021. The excellent principal and accrued curiosity are
convertible into shares of the Firm’s frequent inventory at any time on the possibility of the debtholder at a conversion worth equal to
70% of the bottom closing worth of the frequent inventory as outlined within the settlement. On September 4, 2020, the holder of this convertible
be aware elected to transform the entire quantity of excellent principal and accrued curiosity steadiness into 300,000 shares of the Firm’s
frequent inventory.

Whole
excellent principal of convertible notes payable at April 30, 2021 and April 30, 2020 amounted to $0 and $1,825,000, respectively.
The excellent balances are netted with debt reductions at April 30, 2021 and 2020 of zero and $248,933, respectively.

Be aware
Payable

On
March 16, 2020, the Firm entered right into a promissory be aware payable whereby the Firm borrowed $500,000 bearing curiosity at 12% per
annum. Curiosity on the be aware is payable month-to-month and excellent principal on the be aware is due in full on March 16, 2022. On December 15,
2020, the lender transformed 100% of the principal quantity of the be aware into 500,000 shares of the Firm’s frequent inventory. All accrued
curiosity had been paid via such date and, so, upon conversion, the be aware was terminated.

On
December 24, 2020, the Firm entered right into a promissory be aware with a third-party to borrow $1,000,000. The promissory be aware bore curiosity
at 2.25% and was due February 8, 2021. On February 2, 2021, the Firm and the third-party entered into an modification to increase the promissory
be aware to April 30, 2021. On April 11, 2021, the Firm and the lender entered into an settlement whereby the lender transformed the promissory
be aware into 272,332 shares of Firm inventory, which have been issued to the lender at a 20% low cost from the closing worth of the inventory on the
day previous to the conversion.

On
April 15, 2021, the Firm and its subsidiaries, Slinger
Bag Americas Inc., (“SBA”), Slinger Bag Canada, Inc., (“SBC”), Slinger Bag Worldwide (UK) Restricted (“SB
UK”), and Slinger Bag Ltd., (“SBL” and, along with the Firm, SBA, SBC, SB UK, SBL the “Borrower”)
issued a $2,000,000 secured time period promissory be aware that bears curiosity on the price of 15% each year (the “Be aware”) to SB Invesco
LLC, a Wyoming restricted legal responsibility firm (the “Lender”). In reference to the Be aware, the Borrower and Lender entered into
the next agreements:

(i)
enterprise
mortgage and safety settlement (“BLSA”);
(ii)
mental
property safety settlement (“IPSA”);
(iii)
inventory
pledge settlement (“SPA”);
(iv)
intercreditor
settlement (“ICA”);
(v)
warrant
buy settlement (“WPA”); and
(vi)
2,200,000
warrants to the Lender and Chessler Holdings, LLC to buy shares of frequent inventory of SBI (“Warrants”) and, collectively,
the “Mortgage Agreements”).

BLSA

Pursuant
to the BLSA, the Borrower granted to the Lender, as collateral safety for the fee and efficiency of all the obligations and
liabilities of any member of and all the Borrower in favor of the Lender (the “Obligations”), due or to develop into due, present
or hereafter incurred, contracted or acquired, a primary precedence persevering with safety curiosity in all the property and private property
of the Borrower and its enterprise (the “Collateral”). Such safety curiosity is a primary precedence safety curiosity within the
Collateral.

Upon
the incidence of an Occasion of Default (as outlined within the BLSA), the Lender might (i) at any time thereafter, in its discretion switch
any securities or different property constituting Collateral into its personal identify or that of its nominee and obtain the revenue thereon and
maintain the identical as safety for all Obligations or apply it on all or any quantities due on the Obligations in such order as Lender might elect
in its sole discretion, (ii) enter the Borrower’s premises and take management of its enterprise and (iii) require every Borrower to
set up, at Borrower’s expense, a lock field account with such financial institution acceptable to Lender, into which Borrower shall promptly deposit
and direct their account debtors to instantly remit all funds on receivables and which such funds or deposits shall be the property
solely of the Lender.

IPSA

To
safe the immediate fee to the Lender of the Obligations of the Borrower, the Borrower pledged and granted to the Lender a seamless
safety curiosity in and lien upon all of Borrower’s proper, title and curiosity in, to and underneath the next, whether or not presently
present or hereafter created or acquired (collectively, the “IP Collateral”):

a.
logos and trademark licenses to which the Borrower is a celebration;

b.
patents and patent licenses to which Borrower is a celebration;

c.
copyrights and copyright licenses to which Borrower is a celebration;

d.
mental property not coated by the foregoing;

e.
rights to sue third events for previous, current or future infringement, dilution, misappropriation, or different violation of rights in any
mental property, together with damage to the goodwill related to any trademark, and all causes of motion for a similar; and

f.
All proceeds of all or any of the foregoing, tort claims and all claims and different rights to fee together with (i) insurance coverage claims in opposition to
third events for lack of, injury to, or destruction of, the foregoing IP Collateral and (ii) funds due or to develop into due underneath copyright
licenses, patent licenses or trademark licenses and proceeds payable underneath, or unearned premiums with respect to, insurance policies of insurance coverage
in no matter type relating to the foregoing Collateral.

SPA

Pursuant
to the SPA, SBI pledged, assigned and granted to the Lender and created a seamless first precedence lien and safety curiosity in favor
of the Lender in and to all of its proper, title, and curiosity in and to the next, property (collectively, the “Safety Collateral”)
to safe the due and immediate fee and efficiency of the Borrower’s Obligations:

(a)
100% of the shares in every of its subsidiaries SBA, SBC, SB UK and SBL; and

(b)
all proceeds and merchandise of the foregoing, all books and data regarding the foregoing, all supporting obligations associated thereto,
and all accessions to, substitutions, and replacements for, and income and merchandise of, every of the foregoing, and any and all proceeds
of any insurance coverage, indemnity, guarantee, or warranty payable to the Borrower every so often with respect to any of the foregoing.

The
Borrower additionally agreed, every so often, as could also be required by the Lender with respect to all Safety Collateral, to take all actions
as could also be requested by the Lender to good the safety curiosity of the Lender within the Safety Collateral and in order that management of such
Safety Collateral is obtained and always held by the Lender.

The
Borrower additional licensed the Lender at any time and every so often to file in any related jurisdiction any financing statements
and amendments thereto that include the data required by Article 9 of the UCC of every relevant jurisdiction for the submitting of
any financing assertion or modification regarding the Safety Collateral, with out the signature of the Borrower the place permitted by legislation.

ICA

Underneath
the ICA, till the obligations, liabilities and indebtedness of each nature of the Borrower every so often owed to the Lender underneath
the Mortgage Agreements (the “First Lien Obligations”) have been paid in full, another creditor’s safety curiosity in
and lien on the Collateral to safe the fee and efficiency of their obligations have been subordinated to the Lender’s safety
pursuits in and liens on the Collateral to safe the First Lien Obligations, whatever the order or time of attachment, or the
order, time, or method of perfection, or the order or time of submitting or recordation of any doc or instrument, or different methodology of
perfecting a lien.

WPA

Pursuant
to the WPA, SBI issued and offered to the Lender 2,000,000 warrants to buy frequent inventory of SBI and to Chessler Holdings, LLC 200,000
warrants to buy frequent inventory of SBI (collectively, the “Warrants”).

Warrants

Every
Warrant permits its holder to buy shares of SBI’s frequent inventory at an train worth of $0.025 per share, topic to the choice
to cashless train such warrants.

Every
warrant has different customary phrases present in like devices, together with, however not restricted to, occasions of default.

Future
quantities due as of April 30, 2021 are summarized as follows:

Funds
due by interval
Whole
Much less
than 1
12 months
1-3
years
3-5
years
Extra
than 5
years




  Notes
Payable – Associated Social gathering
$6,220,000
$6,220,000
$-
$-
$- Be aware
Payable
$2,000,000
$-
$2,000,000
$-
$- Whole
$8,220,000
$6,220,000
$2,000,000
$-
$-

We
count on that working capital necessities will proceed to be funded via a mix of our present funds, money flows from operations
and additional issuances of debt and/or securities. Our working capital necessities are anticipated to extend in keeping with the expansion
of our enterprise.

Current
working capital, additional advances and debt devices, and anticipated money circulate are anticipated to be enough to fund our operations
over the subsequent twelve months. We now have no traces of credit score or different financial institution financing preparations. Typically, we’ve got financed operations
thus far via the proceeds of the personal placement of fairness and debt devices. In reference to our marketing strategy, administration
anticipates further will increase in working bills and capital expenditures regarding (i) acquisition of stock; (ii) developmental
bills related to a start-up enterprise; and (iii) advertising bills. We intend to finance these bills with additional issuances
of securities and debt issuances. Thereafter, we count on we might want to increase further capital and generate revenues to fulfill long-term
working necessities. Extra issuances of fairness or convertible debt securities will lead to dilution to our present shareholders.
Additional, such securities might need rights, preferences or privileges senior to our frequent inventory. Extra financing will not be accessible
upon acceptable phrases, or in any respect. If enough funds will not be accessible or not accessible on acceptable phrases, we might not have the ability to take
benefit of potential new enterprise endeavors or alternatives, which might considerably and materially limit our enterprise operations.

Off-Stability
Sheet Preparations

We
haven’t any off-balance sheet preparations.

Impact
of Inflation and Adjustments in Costs

We don’t
imagine that inflation and modifications in costs can have a fabric impact on our operations.

ITEM
7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

As
a smaller reporting firm, we’re not required to supply this data.

ITEM
8. FINANCIAL STATEMENTS

The
monetary statements and supplementary monetary data required by this Merchandise 8 are set forth instantly under and are included
herein by reference.

SLINGER
BAG INC.

April
30, 2021

FORM
10-Okay

INDEX
TO CONSOLIDATED FINANCIAL STATEMENTS

Report
of Impartial Registered Public Accounting Agency

Board
of Administrators and Shareholders

Slinger
Bag Inc.

Opinion
on the Monetary Statements

We
have audited the accompanying consolidated steadiness sheets of Slinger Bag Inc. as of April 30, 2021 and 2020, and the associated consolidated
statements of operations and complete loss, shareholders’ deficit, and money flows for every of the 2 years within the interval
ended April 30, 2021, and the associated notes (collectively known as the “monetary statements”). In our opinion, the
monetary statements current pretty, in all materials respects, the monetary place of Slinger Bag Inc. as of April 30, 2021 and 2020,
and the outcomes of its operations and its money flows for every of the 2 years within the interval ended April 30, 2021, in conformity with
accounting rules typically accepted in america of America.

Going
Concern

The
accompanying monetary statements have been ready assuming that the entity will proceed as a going concern. As mentioned in Be aware
2 to the monetary statements, the entity has suffered recurring losses from operations and has a web capital deficiency that increase substantial
doubt about its skill to proceed as a going concern. Administration’s plans in regard to those issues are additionally described in Be aware 2. The
monetary statements don’t embody any changes that may outcome from the end result of this uncertainty.

Foundation
for Opinion

These
monetary statements are the accountability of the entity’s administration. Our accountability is to specific an opinion on these monetary
statements primarily based on our audits. We’re a public accounting agency registered with the Public Firm Accounting Oversight Board (United
States) (“PCAOB”) and are required to be impartial with respect to Slinger Bag Inc. in accordance with the U.S. federal
securities legal guidelines and the relevant guidelines and laws of the Securities and Change Fee and the PCAOB.

We
performed our audits in accordance with the requirements of the PCAOB. These requirements require that we plan and carry out the audit to acquire
affordable assurance about whether or not the monetary statements are free of fabric misstatement, whether or not as a result of error or fraud. Slinger
Bag Inc. will not be required to have, nor have been we engaged to carry out, an audit of its inside management over monetary reporting. As half
of our audits we’re required to acquire an understanding of inside management over monetary reporting however not for the aim of expressing
an opinion on the effectiveness of the entity’s inside management over monetary reporting. Accordingly, we specific no such opinion.

Our
audits included performing procedures to evaluate the dangers of fabric misstatement of the monetary statements, whether or not as a result of error
or fraud, and performing procedures that reply to these dangers. Such procedures included inspecting, on a take a look at foundation, proof relating to
the quantities and disclosures within the monetary statements. Our audits additionally included evaluating the accounting rules used and vital
estimates made by administration, in addition to evaluating the general presentation of the monetary statements. We imagine that our audits
present an inexpensive foundation for our opinion.

Important
Audit Issues

The
vital audit issues communicated under are issues arising from the present interval audit of the monetary statements that have been communicated
or required to be communicated to the audit committee and that: (1) relate to accounts or disclosures which are materials to the monetary
statements and (2) concerned our particularly difficult, subjective, or complicated judgments. The communication of vital audit issues
doesn’t alter in any manner our opinion on the monetary statements, taken as an entire, and we’re not, by speaking the vital audit
issues under, offering separate opinions on the vital audit issues or on the accounts or disclosures to which they relate.

Stock

The
Firm developed, and now sells, a tennis ball launcher that’s constructed right into a bag (the “Slinger Launcher”). The Firm makes use of
manufacturing firms who ship its Slinger Launchers to 3rd get together warehouses world wide to allow the Firm to distribute
its product internationally. As mentioned in Be aware 3 of the consolidated monetary statements the Firm values their stock on the
decrease of value (decided principally on a first-in first-out foundation) or web realizable worth. As a result of quite a few warehouse places,
stock in transit, and the a number of parts that go into the Slinger Launcher auditing the stock steadiness was difficult and
required complicated auditor judgment.

In
order to audit the Firm’s stock steadiness, we despatched confirmations to 3rd get together warehouses after they accomplished their inside
stock counts, reconciled and verified all stock in transit quantities by reviewing third get together assist and transport data, and
we ensured all values assigned to parts and accomplished Slinger Launchers was correct by reviewing supply paperwork and invoices
from third get together producers.

Advanced
Debt and Fairness Transactions

Throughout
the 12 months underneath audit the Firm entered into a number of debt and/or fairness transactions and agreements that contained phrases and provisions
that have been unusual in apply. As a result of uncommon nature of the agreements, making certain the accounting for the transactions have been difficult,
subjective, and required complicated auditor judgment, together with detailed evaluation and interpretation of accounting requirements.

In
order to audit these vital uncommon transactions, we reviewed Firm evaluation and needed to carry out a big quantity of analysis
to be able to achieve consolation within the accounting for every.

/s/
Mac Accounting Group, LLP

We
have served because the Firm’s auditor since 2019.

Midvale,
Utah

August
6, 2021

Slinger
Bag Inc.

Consolidated
Stability Sheets

April
30, 2021
April
30, 2020

  Belongings



   Present
property

   Money
and money equivalents
$928,796
$79,847 Accounts
receivable, web
762,487
– Inventories,
web
3,693,216
919,644 Pay as you go
bills and different present property
200,160
381,510 Whole
present property
5,584,659
1,381,001

   Intangible
asset, web
112,853
– Whole
property
$5,697,512
$1,381,001

   Liabilities
and Shareholders’ Deficit



   Present
liabilities

   Accounts
payable and accrued bills
$2,050,476
$1,108,488 Accrued
payroll and bonuses
1,283,464
257,730 Deferred
income
99,531
179,366 Accrued
curiosity – associated get together
747,636
138,967 Notes
payable – associated get together, web
6,143,223
2,100,000 Convertible
notes payable, web
–
82,128 By-product
liabilities
13,813,449
620,238 Whole
present liabilities
24,137,779
4,486,917

   Lengthy-term
liabilities

   Lengthy-term
portion of convertible notes payable, web
–
1,493,939 Notes
payable, web
10,477
393,975 Whole
liabilities
24,148,256
6,374,831

   Commitments
and contingencies (Be aware 10)



   Shareholders’
deficit

   Frequent
inventory, $0.001 par worth, 300,000,000 shares licensed, 27,642,828 and 24,749,354 shares issued and excellent as of April
30, 2021 and 2020, respectively; 6,921,299 and eight,137,859 shares issuable as of April 30, 2021 and 2020, respectively
27,643
24,749 Extra
paid-in capital
10,365,056
5,214,970 Accrued
different complete loss
(20,170)
(5,036)Accrued
deficit
(28,823,273)
(10,228,513)Whole
shareholders’ deficit
(18,450,744)
(4,993,830)Whole
liabilities and shareholders’ deficit
$5,697,512
$1,381,001

See
accompanying notes to consolidated monetary statements

Slinger
Bag Inc.

Consolidated
Statements of Operations and Complete Loss

For
the Yr Ended
April
30, 2021
April
30, 2020

  Web
gross sales
$10,804,214
$686,179 Price
of gross sales
7,680,290
1,370,897 Gross
revenue (loss)
3,123,924
(684,718)

   Working
bills:

   Promoting
and advertising bills
1,761,154
563,003 Basic
and administrative bills
4,749,922
5,291,075 Analysis
and improvement prices
339,385
179,982 Transaction
prices
–
198,443 Whole
working bills
6,850,461
6,232,503

   Loss
from operations
(3,726,537)
(6,917,221)

   Different
bills (revenue):

   Amortization
of debt low cost
376,506
1,565,174 Loss
on extinguishment of debt
3,030,495
– Induced
conversion loss
51,412
– Achieve
on change in honest worth of derivatives
(1,939,639)
– Curiosity
expense – associated get together
608,668
171,918 Curiosity
expense
12,740,781
573,431 Whole
different expense
14,868,223
2,310,523 Loss
earlier than revenue taxes
(18,594,760)
(9,227,744)Provision
for revenue taxes
–
– Web
loss
$(18,594,760)
$(9,227,744)

   Different
complete loss, web of tax

   International
forex translation changes
(15,134)
(5,034)Whole
different complete loss, web of tax
(15,134)
(5,034)Complete
loss
$(18,609,894)
$(9,232,778)Web
loss per share, fundamental and diluted
$(0.70)
$(0.37)Weighted common
variety of frequent

   shares
excellent, fundamental and diluted
26,723,038
24,689,813

See
accompanying notes to consolidated monetary statements

Slinger
Bag Inc.

Consolidated
Statements of Shareholders’ Deficit

Accrued



Extra

Different



Frequent
Inventory

Paid-in

Complete

Accrued



Shares

Quantity

Capital

Loss

Deficit

Whole
Stability,
April 30, 2019

24,380,000

$
24,380

$
2,520

$
–

$
(33,091
)

$
(6,191
)

Contribution
of Slinger Bag Restricted

–

–

–

(2
)

(967,678
)

(967,680
)Shares
issuable associated to notice payable

–

–

1,492,188

–

–

1,492,188
Distribution
to shareholder

–

–

(332,239
)

–

–

(332,239
)Forgiveness
of web liabilities owed to former majority shareholder

–

–

15,289

–

–

15,289
Shares
issued for conversion of convertible debt

369,354

369

182,476

–

–

182,845
Share-based
compensation

–

–

3,741,746

–

–

3,741,746
Warrants
issued with be aware payable

–

–

112,990

–

–

112,990
International forex
translation

–

–

–

(5,034
)

–

(5,034
)Web
loss

–

–

–

–

(9,227,744
)

(9,227,744
)Stability,
April 30, 2020

24,749,354

$
24,749

$
5,214,970

$
(5,036
)

$
(10,228,513
)

$
(4,993,830
)

Shares
issued associated to notice payable
1,216,560
1,217
(1,217)
–
–
– Warrants
issued associated to notes payable – associated get together
–
–
2,157,818
–
–
2,157,818 Shares
issued in reference to conversion of notes payable
772,332
772
1,749,232
–
–
1,750,004 Shares
issued for conversion of convertible debt
300,000
300
238,149
–
–
238,449 Shares
issued in reference to buy of trademark
35,000
35
35,316
–
–
35,351 Warrants
issued in reference to buy of trademark
–
–
50,232
–
–
50,232 Shares
issued in reference to providers
569,582
570
849,559
–
–
850,129 Share-based
compensation
–
–
70,997
–
–
70,997 International
forex translation
–
–
–
(15,134)
–
(15,134)Web
loss
–
–
–
–
(18,594,760)
(18,594,760)Stability,
April 30, 2021
27,642,828
$27,643
$10,365,056
$(20,170)
$(28,823,273)
$(18,450,744)

See
accompanying notes to consolidated monetary statements

Slinger
Bag Inc.

Consolidated
Statements of Money Flows

For
the Yr Ended


April
30,

April
30,


2021

2020


Money
flows from working actions:

Web
loss

$
(18,594,760
)

$
(9,227,744
)Changes
to reconcile web loss to web money utilized in working actions:

Depreciation
and amortization expense

2,730

650
Achieve
on change in honest worth of derivatives

(1,939,639
)

–
Shares
issued in reference to providers

798,351

–
Share-based
compensation

70,997

3,741,746
Loss
on extinguishment of debt

3,030,495

–
Induced
conversion loss

51,412

–
Non-cash
curiosity expense

12,501,178

358,855
Amortization
of debt low cost

376,506

1,565,174


Adjustments
in working property and liabilities:

Accounts
receivable, web

(760,058
)

–
Inventories,
web

(2,764,758
)

(919,644
)Pay as you go
bills and different present property

208,806

(381,510
)Accounts
payable and accrued bills

946,716

855,853
Accrued
payroll and bonuses

1,025,734

365,787
Deferred
income

(79,835
)

(706,408
)Accrued
curiosity – associated get together

608,668

138,967


Web
money utilized in working actions

(4,517,457)

(4,208,274
)

Money flows from
investing actions:

Buy
of intangible property

(30,000
)

-Proceeds
from contribution of web property of Slinger Bag Restricted

–

73,400Net
money (utilized in) offered by investing actions

(30,000
)

73,400


Money flows from
financing actions:

Distribution
to shareholder

–

(332,239
)Proceeds
from notes payable – associated get together

3,300,000

2,100,000
Proceeds
from be aware payable

3,120,000

500,000
Repayments
of notes payable – associated get together

(1,000,000
)

–
Proceeds
from convertible be aware payable

–

1,950,000


Web
money offered by financing actions

5,420,000

4,217,761


Impact
of trade price fluctuations on money and money equivalents

(23,594
)

(5,034
)

Enhance
in money and money equivalents

848,949

77,853
Money
and money equivalents at starting of interval

79,847

1,994
Money
and money equivalents at finish of interval

$
928,796

$
79,847


Supplemental
disclosure of money circulate data:

Curiosity
paid

$
263,268

$
224,726
Earnings
taxes paid

3,668

–


Supplemental
disclosure of non-cash investing and financing actions:

Forgiveness
of web liabilities owed to former majority shareholder

$
–

$
15,289
Shares
issuable associated to convertible be aware payable settlement

–

1,492,188
Debt
low cost as a result of spinoff legal responsibility

–

673,809
Conversion
of be aware payable and accrued curiosity into frequent inventory

–

182,845
Warrants
issued with be aware payable

–

112,990
Web
property contributed from Slinger Bag Restricted

–

(967,680
)Switch
of convertible be aware payable to notice payable
1,700,000
– Switch
of notes payable to notes payable – associated get together
1,820,000
– Shares
and warrants issued in reference to buy of trademark
85,583
– Conversion
of notes payable and accrued curiosity into frequent inventory
1,937,041
– Warrants
and shares issued with be aware payable
158,331
–

See
accompanying notes to consolidated monetary statements

SLINGER
BAG INC.

NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS

NOTE
1: ORGANIZATION AND BASIS OF PRESENTATION

Group

Lazex
Inc. (“Lazex”) was included underneath the legal guidelines of the State of Nevada on July 12, 2015. On August 23, 2019, the bulk
proprietor of Lazex entered right into a Inventory Buy Settlement with Slinger Bag Americas Inc., a Delaware company (“Slinger Bag Americas”),
which was 100% owned by Slinger Bag Ltd. (“SBL”), an Israeli firm. In reference to the Inventory Buy Settlement, Slinger
Bag Americas acquired 20,000,000 shares of frequent inventory of Lazex for $332,239. On September 16, 2019, SBL transferred its possession of
Slinger Bag Americas to Lazex in trade for the 20,000,000 shares of Lazex acquired on August 23, 2019. On account of these transactions,
Lazex owned 100% of Slinger Bag Americas and the only shareholder of SBL owned 20,000,000 shares of frequent inventory (roughly 82%)
of Lazex. Efficient September 13, 2019, Lazex modified its identify to Slinger Bag Inc.

On
February 10, 2020, Slinger Bag Americas grew to become the 100% proprietor of SBL, together with SBL’s wholly owned subsidiary Slinger Bag Worldwide
(UK) Restricted (“Slinger Bag UK”), which was shaped on April 3, 2019. On February 10, 2020, Zehava Tepler, the proprietor of SBL,
contributed Slinger Bag UK to Slinger Bag Americas for no consideration.

The
operations of Slinger Bag Inc., Slinger Bag Americas, Slinger Bag Canada, Slinger Bag UK and SBL are collectively known as the
“Firm.”

Efficient
February 25, 2020, the Firm elevated the variety of licensed shares of frequent inventory from 75,000,000 to 300,000,000 through a
four-to-one ahead cut up of its excellent shares of frequent inventory. All share and per share data contained on this report
have been retroactively adjusted to replicate the influence of the inventory cut up.

Foundation
of Presentation

The
accompanying consolidated monetary statements of the Firm are offered in accordance with accounting rules typically accepted
in america of America (“GAAP”). On account of the transactions described above, the accompanying consolidated
monetary statements embody the mixed outcomes of Slinger Bag Inc., Slinger Bag Americas, Slinger Bag Canada, Slinger Bag UK and SBL
for the years ended April 30, 2021 and 2020. The contribution of the web property of SBL is mirrored as an fairness contribution
at historic value on Could 1, 2019, the start of the earliest interval by which the entities have been underneath frequent management. There was no
historic exercise in Slinger Bag Americas or Slinger Bag Canada previous to Could 1, 2019. All intercompany accounts and transactions have
been eradicated in consolidation.

NOTE
2: GOING CONCERN

The
monetary statements have been ready on a going concern foundation, which assumes the Firm will have the ability to understand its property and discharge
its liabilities within the regular course of enterprise for the foreseeable future. The Firm has an accrued deficit of $28,823,273
as of April 30, 2021, and extra losses are anticipated within the improvement of the enterprise. Accordingly, there’s substantial doubt
in regards to the Firm’s skill to proceed as a going concern. These monetary statements don’t embody any changes associated to
the recoverability and classification of property or the quantities and classification of liabilities that may be obligatory ought to the Firm
be unable to proceed as a going concern.

NOTE
3: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Use
of Estimates

Monetary
Assertion Reclassification

Sure
prior 12 months quantities have been reclassified in these consolidated monetary statements to adapt to present 12 months presentation.

Money
and Money Equivalents

The
Firm considers all extremely liquid investments with an authentic maturity of three months or much less when bought to be money equivalents.
The vast majority of funds due from banks for bank card transactions course of inside 24 to 48 hours and are accordingly labeled as
money and money equivalents.

Accounts
Receivable

The
Firm’s accounts receivable are non-interest bearing commerce receivables ensuing from the sale of merchandise and payable over phrases
starting from 15 to 60 days. The Firm offers an allowance for uncertain accounts on the level when assortment is taken into account uncertain.
As soon as all assortment efforts have been exhausted, the Firm charges-off the receivable with the allowance for uncertain accounts. The
Firm had no allowance for uncertain accounts as of April 30, 2021 or 2020.

Stock

Stock
is valued on the decrease of the fee (decided principally on a first-in, first-out foundation) or web realizable worth. The Firm’s
valuation of stock consists of stock reserves for stock that shall be offered under value and the influence of stock shrink. Stock
reserves are primarily based on historic data and assumptions about future demand and stock shrink developments. The Firm’s
stock as of April 30, 2021 consisted of $1,591,826 of completed items, $1,777,028 of element and substitute components, $347,362
of capitalized obligation and freight, and a $23,000 stock reserve. The Firm’s stock as of April 30, 2020 consisted of
$663,750 of completed items and $255,894 of element and substitute components.

Focus
of Credit score Threat

The
Firm maintains its money in financial institution deposit accounts, the balances of which at instances might exceed insured limits. The Firm frequently
displays its banking relationships and consequently has not skilled any losses in such accounts. Whereas we could also be uncovered to credit score
threat, we take into account the danger distant and don’t count on that any such threat would lead to a big impact on our outcomes of operations
or monetary situation.

Income
Recognition

The
Firm acknowledges income in accordance with Accounting Requirements Codification (“ASC”) 606, the core precept of which
is that an entity ought to acknowledge income to depict the switch of promised items or providers to prospects in an quantity that displays
the consideration to which the entity expects to be entitled to obtain in trade for these items or providers. The Firm acknowledges
income for its efficiency obligation related to its contracts with prospects at a cut-off date as soon as merchandise are shipped.
Quantities collected from prospects prematurely of transport merchandise ordered are mirrored as deferred income on the accompanying
consolidated steadiness sheets. The Firm’s normal phrases are non-cancelable and don’t present for the right-of-return, different
than for faulty merchandise coated underneath the Firm’s normal guarantee. The Firm has not traditionally skilled any
vital returns or guarantee points.

Honest
Worth of Monetary Devices

Degree
1 — Quoted costs in lively markets for similar property or liabilities

Degree
2 — Observable inputs aside from quoted costs in lively markets for similar property and liabilities

Degree
3 — Unobservable pricing inputs out there

The
Firm’s monetary devices consist of money and money equivalents, accounts receivable, and accounts payable. The carrying
quantity of those monetary devices approximates honest worth as a result of their short-term maturity. The Firm’s spinoff liabilities
have been calculated utilizing Degree 2 assumptions on the issuance date through a Black-Scholes possibility pricing mannequin whose assumptions are
in keeping with the assumptions famous under within the warrant part.

Earnings
Taxes

Intangible
Asset

Intangible
asset pertains to the “Slinger” know-how trademark, which the Firm bought on November 10, 2020. The trademark
is amortized over its anticipated lifetime of 20 years. Amortization expense for the 12 months ended April 30, 2021 and 2020 was $2,730 and
zero, respectively. The quantity of amortization expense for every of the subsequent 5 years shall be roughly $5,800 per 12 months.

Lengthy-Lived
Belongings

In
accordance with ASC 360-10, the Firm evaluates long-lived property for impairment at any time when occasions or modifications in circumstances point out
that their web guide worth will not be recoverable. When such elements and circumstances exist, the Firm compares the projected undiscounted
future money flows related to the associated asset or group of property over their estimated helpful lives in opposition to their respective carrying
quantity. If these web undiscounted money flows don’t exceed the carrying quantity, impairment, if any, is predicated on the surplus of the carrying
quantity over the honest worth primarily based available on the market worth or discounted anticipated money flows of these property and is recorded within the
interval by which the dedication is made. There was no impairment of long-lived property recognized throughout the 12 months ended April 30, 2021
or 2020.

Share-Based mostly
Cost

The
Firm accounts for share-based compensation in accordance with ASC 718, Compensation-Inventory Compensation (ASC 718). Underneath the honest worth
recognition provisions of this subject, stock-based compensation value is measured on the grant date primarily based on the honest worth of the award
and is acknowledged as an expense on a straight-line foundation over the requisite service interval, which is the vesting interval.

Warrants

The
Firm grants warrants to key workers and executives as compensation on a discretionary foundation. The Firm additionally grants warrants in
reference to sure be aware payable agreements and different key preparations. The
Firm is required to estimate the honest worth of share-based awards on the measurement date and acknowledge as expense that worth of the
portion of the award that’s in the end anticipated to vest over the requisite service interval. Warrants
granted in reference to ongoing preparations are extra totally described in Be aware 7: Be aware Payable and Be aware 9: Shareholders’
Deficit.

The
warrants granted throughout the 12 months ended April 30, 2021 and 2020 have been valued utilizing a Black-Scholes possibility pricing mannequin
on the date of grant utilizing the next assumptions:

2021

2020Expected
life in years

2
– 10 years

2
-10 years Inventory
worth volatility

148%
– 280%

121%
– 144percentRisk
free rate of interest

0.12%
– 1.64%

0.36%
– 2.43percentExpected
dividends

0%

0%

International
Foreign money Translation

A
portion of SBL’s operations are performed in Israel and its useful forex is the Israeli Shekel, the Firm’s
operations of Slinger Bag Canada are performed in its useful forex of Canadian {Dollars}, and the Firm’s Slinger
Bag UK operations are performed in its useful forex of the British pound (GBP). The accounts of SBL, Slinger Bag Canada,
and Slinger Bag UK have been translated into U.S. {dollars} (“USD”). Belongings and liabilities are translated into USD at
the relevant trade charges at period-end. Shareholders’ fairness is translated utilizing historic trade charges. Income
and bills are translated on the common trade charges for the interval. Any translation changes are included as overseas forex
translation changes on the consolidated statements of operations and complete loss.

Earnings
Per Share

Fundamental
earnings per share are calculated by dividing revenue accessible to shareholders by the weighted-average variety of frequent shares
excellent throughout every interval. Diluted earnings per share are computed utilizing the weighted common variety of frequent and dilutive frequent
share equivalents excellent throughout the interval.

The
Firm had 6,921,299 and eight,137,859 frequent shares issuable as of April 30, 2021 and 2020, respectively, (see Be aware 5 and 6) which
weren’t included within the calculation of diluted earnings per share because the impact is antidilutive. The Firm additionally had excellent notes
payable convertible into zero and seven,465,811 shares of frequent inventory as of April 30, 2021 and 2020, respectively, (see Be aware 6),
excellent warrants exercisable into 24,503,107 and 13,000,000 shares of frequent inventory as of April 30, 2021 and 2020,
respectively, and 21,786 and 0 shares associated to make-whole provisions as of April 30, 2021 and 2020, respectively, (see Be aware 7),
which have been excluded from the calculation of diluted earnings per share because the impact is antidilutive. Consequently, the fundamental and
diluted earnings per share are the identical for every of the durations offered.

Current
Accounting Pronouncements

Different
not too long ago issued accounting pronouncements didn’t, or will not be believed by administration to, have a fabric impact on the Firm’s
current or future consolidated monetary statements.

NOTE
4: INTANGIBLE ASSET

On
November 10, 2020, the Firm entered right into a Trademark Project Settlement to amass the “Slinger” trademark for $30,000
in money, 35,000 shares of the Firm’s frequent inventory, and warrants to buy 50,000 shares of the Firm’s frequent inventory
at an train worth of $0.50 per share. The warrants vested instantly and have a contractual lifetime of 10 years.

The
frequent inventory was valued on the closing inventory worth on November 10, 2020 and the warrants have been valued utilizing a Black-Scholes possibility pricing
mannequin, for a good worth of $35,351 and $50,232, respectively.

The
buy worth of the trademark was decided to be $115,583.

NOTE
5: NOTE PAYABLE – RELATED PARTY

On
October 1, 2019, the Firm entered right into a mortgage settlement with a associated get together entity managed by the previous shareholder of
Slinger Bag Canada for borrowings of $500,000 bearing curiosity at 12% each year. All principal and accrued curiosity have been due on demand
underneath the unique settlement. On December 13, 2019, the Firm entered into an Amended and Restated Mortgage Settlement making all principal
and accrued curiosity due on July 15, 2020, which was later amended to increase the due date to September 1, 2021.

On
December 11, 2019, the Firm entered right into a mortgage settlement with the identical associated get together for borrowings of $700,000 bearing curiosity
at 24% each year. All principal and accrued curiosity have been due on July 15, 2020. On July 8, 2020, the phrases of the debt have been amended to
prolong the due date to January 8, 2021, which was later amended to increase the due date to September 1, 2021.

On
January 6, 2020, the Firm entered right into a mortgage settlement with the identical associated get together for borrowings of $200,000 bearing curiosity
at 24% each year. All principal and accrued curiosity have been due on January 8, 2021, which was later amended to increase the due date to
September 1, 2021.

On
July 8, 2020, the Firm entered right into a Buy Order Financing Settlement (“PO Financing Settlement”) whereby $1,900,000
of the entire $3,600,000 in excellent debt as a result of associated get together as of the date of the settlement was labeled as stock financing
(“PO Financing Quantity”). The PO Financing Quantity, together with any accrued curiosity, is due in full no later than six
months from the efficient date of the PO Financing Settlement, which was later amended to increase the due date to September 1, 2021.
The excellent steadiness of the PO Financing Settlement bears curiosity at a price of two% monthly. The Firm agreed to repay the PO Financing
Quantity along with any accrued, however unpaid, curiosity thereon out of proceeds from the sale of its merchandise, licensing actions, income
to be generated from operations and/or quantities acquired by the Firm from buyers, lenders, financiers, financing sources or different
individuals earlier than making funds of another nature (together with dividends and distributions), apart from funds required to finance the
Firm’s operations.

On
September 7, 2020, the excellent debt from the prevailing associated get together lender was amended to scale back the rate of interest to 9.5% each year
on all excellent loans, together with the PO Financing Settlement, efficient the date of the settlement. As consideration for agreeing
to scale back the rate of interest, the Firm issued the associated get together warrants to buy 2,500,000 shares of the Firm’s frequent
inventory at an train of $0.001 per share. The warrants vested instantly and have a contractual lifetime of 10 years. The modification of the
excellent debt was handled as an extinguishment of the debt and due to this fact the worth of the warrants issued to the lender of $1,999,487
was expensed as a loss on extinguishment of debt throughout the 12 months ended April 30, 2021.

On
September 8, 2020, the associated get together lender agreed to increase the due date of all excellent loans to September 1, 2021.

On
September 15, 2020, the Firm entered right into a mortgage settlement with the identical associated get together for borrowings of $250,000 bearing curiosity
at 9.5% each year and due in full on September 15, 2021. In reference to the mortgage, the Firm issued warrants to the associated
get together lender to buy 125,000 shares of the Firm’s frequent inventory at an train worth of $0.001 per share. The warrants
vested instantly and have a contractual lifetime of 10 years. The be aware was discounted by $70,130 allotted from the valuation of the
warrants issued. The low cost recorded on the be aware is being amortized via the maturity date, which amounted to $43,615
and 0 for the years ended April 30, 2021 and 2020, respectively, and is recorded in amortization of debt low cost on the assertion
of operations. As of April 30, 2021, the remaining low cost was $26,515.

On
November 24, 2020, the Firm entered right into a mortgage settlement with the identical associated get together for borrowings of $300,000 bearing curiosity
at 9.5% each year and due in full on November 24, 2021. In reference to the mortgage, the Firm issued warrants to the associated get together
lender to buy 125,000 shares of the Firm’s frequent inventory at an train worth of $0.001 per share. The warrants vested
instantly and have a contractual lifetime of 10 years. This be aware was discounted by $88,201 allotted from the valuation of the warrants
issued. The low cost recorded on the be aware is being amortized via the maturity date, which amounted to $37,939 and 0
for the years ended April 30, 2021 and 2020, respectively, and is recorded in amortization of debt low cost on the assertion of operations.
As of April 30, 2021, the remaining low cost was $50,262.

On
December 3, 2020, Mont-Saic Investments LLC (“Mont-Saic”) entered into an Project and Conveyance Settlement
with 2490585 Ontario Inc., the Firm’s present associated get together lender. In reference to the settlement, Mont-Saic offered
its full proper, title and curiosity in its excellent notes payable amounting to $1,820,000, which consisted of a $1,700,000 be aware
payable (see Be aware 6) and a $120,000 be aware payable (see Be aware 7), to 2490585 Ontario Inc., together with the 1,216,560 shares of frequent
inventory beforehand issued to Mont-Saic in reference to the debt settlement and the rights to obtain the remaining 6,921,299 shares
issuable. Subsequent to this cut-off date, the excellent debt of $1,820,000 and all accrued curiosity is payable to 2490585 Ontario
Inc., and future curiosity will accrue at a price of 9.5% each year per the speed being charged on their different excellent debt.
The scheduled maturity date of the debt stays unchanged and is due June 1, 2021. As
of April 30, 2021, there stay 6,921,299 shares issuable associated to this be aware.

Whole
excellent borrowings from this associated get together as of April 30, 2021 and 2020 amounted to $6,220,000 and $2,100,000, respectively. The
excellent quantity is web of complete reductions of $76,777 for a web guide worth of $6,143,223 as of April 30, 2021.

Curiosity
expense associated to this associated get together for the 12 months ended April 30, 2021 and 2020 amounted to $608,668 and $171,918, respectively.
Accrued curiosity as a result of associated get together amounted to $747,636 and $138,967 as of April 30, 2021 and 2020, respectively.

On
March 25, 2021, the Firm entered right into a mortgage settlement with a special associated get together for borrowings of $1,000,000 bearing curiosity
at 1% each year and due in full on April 25, 2021. The Firm repaid the mortgage in full at maturity and there have been no excellent borrowings
as of April 30, 2021.

NOTE
6: CONVERTIBLE NOTES PAYABLE

On
June 1, 2019, the Firm entered right into a convertible be aware payable settlement with Mont-Saic Investments LLC (“Mont-Saic”)
which offered for borrowings of $1,700,000 bearing curiosity at a price of 12.6% each year. All excellent quantities have been due on the
maturity date 360 days after the mortgage challenge date. The Firm might repay as much as 50% of the excellent steadiness on the mortgage previous to the
maturity date at their discretion. The excellent principal and accrued curiosity are convertible into shares of the Firm’s
frequent inventory at any time on the possibility of the debtholder at a conversion worth equal to 75% of the bottom closing worth of the frequent
inventory as outlined within the settlement.

The
convertible be aware payable settlement, as amended on September 11, 2019, additionally offered Mont-Saic with a warrant giving them
the proper to amass 33% of the excellent shares of SBL on a fully-diluted foundation for no consideration up via one 12 months after
the maturity date. On September 16, 2019, Mont-Saic and Slinger Bag Inc. entered right into a warrant task and conveyance
settlement which up to date Mont-Saic’s proper to amass 33% of the excellent frequent inventory shares of SBL to Slinger Bag Inc.
The allotted worth of the warrant of $1,492,188 was recorded as a reduction to the excellent be aware steadiness. On Could 6,
2020, the Firm issued 1,216,560 shares of frequent inventory as partial satisfaction of the shares issuable.

On
June 1, 2020, the Firm and Mont-Saic entered into an modification to the convertible be aware payable settlement to get rid of
the conversion proper contained within the authentic settlement and prolong the maturity date to June 1, 2021.

The
Firm evaluated the conversion possibility underneath the steering in ASC 815-10, Derivatives and Hedging, and decided it to have traits
of a spinoff legal responsibility. Underneath this steering, this spinoff legal responsibility is marked-to-market at every reporting interval with the non-cash
achieve or loss recorded within the interval as a achieve or loss on derivatives. The worth of the conversion possibility spinoff amounted to $566,667
as of the issuance date on September 11, 2019, which was recorded as a reduction to the excellent be aware steadiness much less $358,855 representing
the quantity of the conversion possibility exceeding the face worth of the be aware payable which was recorded instantly as curiosity expense,
and a spinoff legal responsibility. On June 1, 2020, in reference to the elimination of the conversion possibility, this spinoff ceased to exist
and the worth of the derivate of $566,667 was acknowledged as a loss on extinguishment of debt on the consolidated statements of operations
for the 12 months ended April 30, 2021.

The
mixed low cost regarding the warrant and conversion possibility have been amortized over the time period of the settlement. Amortization of debt reductions
throughout the 12 months ended April 30, 2020 amounted to $1,493,939, and have been recorded as amortization of debt low cost within the accompanying consolidated
statements of operations. The remaining $206,061 was amortized throughout the 12 months ended April 30, 2021.

On
December 3, 2020, Mont-Saic entered into an Project and Conveyance Settlement with the Firm’s exiting associated get together lender
whereby Mont-Saic offered its full proper, title and curiosity in its excellent notes payable amounting to $1,820,000, which consisted of
the $1,700,000 be aware payable and the $120,000 be aware payable (see Be aware 7), to the Firm’s associated get together lender, together with the 1,216,560
shares of frequent inventory beforehand issued to Mont-Saic in reference to the debt settlement and the rights to obtain the remaining 6,921,299
shares issuable (see Be aware 5).

On
November 20, 2019, the Firm entered right into a convertible be aware payable settlement for borrowings of $125,000 bearing curiosity at 12% per
annum. All excellent borrowings and accrued curiosity have been due on November 20, 2020. The excellent principal and accrued curiosity
are convertible into shares of the Firm’s frequent inventory at any time on the possibility of the debtholder at a conversion worth equal
to 70% of the bottom closing worth of the frequent inventory as outlined within the settlement. On March 2, 2020, the holder elected to transform the
excellent principal of $125,000 and accrued curiosity of $4,274 into 369,354 shares of the Firm’s frequent inventory in accordance
with the phrases within the settlement.

The
Firm evaluated the conversion possibility underneath the steering in ASC 815-10, Derivatives and Hedging, and decided it to have traits
of a spinoff legal responsibility. Underneath this steering, this spinoff legal responsibility is marked-to-market at every reporting interval with the non-cash
achieve or loss recorded within the interval as a achieve or loss on derivatives. The worth of the conversion possibility spinoff amounted to $53,571
as of the issuance date on November 20, 2019, which was initially recorded as a reduction to the excellent be aware steadiness and a spinoff
legal responsibility. The low cost of $53,571 was totally amortized throughout the 12 months ended April 30, 2020 upon the conversion of the excellent
be aware payable steadiness. Upon conversion of the be aware payable steadiness, the spinoff legal responsibility quantity of $53,571 was reclassified as further
paid-in capital as a part of shareholders’ fairness.

On
September 4, 2020, the Firm and the convertible debt holder entered into an settlement to transform the excellent convertible
be aware payable steadiness of $125,000 and accrued curiosity of $8,466 into 300,000 shares of the Firm’s frequent inventory. Underneath the steering
in ASC 470-20-40-16, the Firm acknowledged an expense on the conversion date equal to the honest worth of the shares transferred
after the change in phrases, much less the honest worth of securities issuable underneath the unique conversion phrases. The surplus in worth, which
amounted to $51,412 was recorded as an induced conversion loss within the consolidated statements of operations throughout
the 12 months ended April 30, 2021.

At
the time of the conversion, the remaining debt low cost was totally amortized and the spinoff legal responsibility quantity of $53,571 was reclassified
as further paid-in capital as a part of shareholders’ fairness. Amortization of debt reductions throughout the 12 months ended
April 30, 2021 and 2020 was $42,872 and $10,699, respectively, and was recorded as amortization of debt low cost within the
accompanying consolidated statements of operations. The unamortized low cost steadiness amounted to zero and $42,872 as of April 30, 2021
and 2020, respectively.

Whole
excellent principal of convertible notes payable at April 30, 2021 and 2020 amounted to zero and $1,825,000, respectively. The
excellent balances are netted with debt reductions at April 30, 2021 and 2020 of zero and $248,933, respectively.

NOTE
7: NOTE PAYABLE

In
reference to the promissory be aware payable on March 16, 2020, the Firm issued warrants to buy 500,000 shares of the Firm’s
frequent inventory at an train worth equal to a 40% low cost of the market worth of the Firm’s inventory, as outlined within the settlement.
The warrants expire on March 16, 2022 and are totally vested upon issuance. The be aware was discounted by $112,990 primarily based on an allocation
of the worth of the warrants issued. The low cost recorded on the be aware was amortized into amortization of debt low cost via
the maturity date, which amounted to $35,542 and $6,965 for years ended April 30, 2021 and 2020, respectively.

On
December 15, 2020, the debt holder agreed to transform the excellent be aware payable of $500,000 into 500,000 shares of the Firm’s
frequent inventory as full settlement of the promissory be aware payable. Accrued curiosity on the be aware was paid in money. On account of this settlement,
the Firm acknowledged the unamortized debt low cost of $70,483 as a loss on extinguishment of debt on the consolidated statements
of operations throughout the 12 months ended April 30, 2021.

On
June 30, 2020, the Firm entered right into a mortgage settlement with Mont-Saic to borrow $120,000. This mortgage bears curiosity at an annual price
of 12.6% and is required to be repaid in full, along with all accrued, however unpaid, curiosity by June 30, 2021. On December 3, 2020,
Mont-Saic entered into an Project and Conveyance Settlement with the Firm’s exiting associated get together lender whereby Mont-Saic
offered its full proper, title and curiosity on this be aware to the Firm’s associated get together lender (see Be aware 5).

On
April 11, 2021, the Firm and the lender entered into an settlement whereby the lender transformed the promissory
be aware into 272,332 shares of Firm inventory, which have been issued to the lender at a 20% low cost from the closing worth
of the inventory on the day previous to the conversion. Along with the low cost, the
settlement incorporates a assure that the combination product sales of the shares by the lender shall be at least $1,500,000 over the subsequent
three years and if the combination product sales are lower than $1,500,000 the Firm will challenge further shares of frequent inventory to the
lender for the distinction between the entire gross proceeds and $1,500,000, which might lead to an infinite variety of shares being required
to be issued.

The
Firm evaluated the conversion possibility of the be aware payable to shares underneath the steering in ASC 815-40, Derivatives and Hedging, and
decided the conversion possibility certified for fairness classification. The Firm additionally evaluated the revenue assure underneath ASC 815,
Derivatives and Hedging, and decided it to be a make-whole provision, which is an embedded spinoff inside the host instrument.
Because the financial traits are dissimilar to the host instrument, the revenue assure was bifurcated from the host instrument and
said as a separate spinoff legal responsibility, which is marked to market on the finish of every reporting interval with the non-cash achieve or loss
recorded within the interval as a achieve or loss on spinoff.

On
the date of conversion, the Firm acknowledged a $1,501,914 loss on extinguishment of debt, which
represented the distinction between the promissory be aware and the honest worth of the shares issued of $1,250,004, which have been recorded in
shares issued in reference to conversion of be aware payable inside shareholders’ fairness,
in addition to the spinoff legal responsibility of $1,251,910, which was valued utilizing a Black-Scholes possibility pricing mannequin.

The
honest worth of the spinoff legal responsibility was $1,229,851 as of April 30, 2021, and the Firm acknowledged a achieve on change in honest worth
of $22,059 for the 12 months ended April 30, 2021.

On
April 15, 2021, the Firm entered right into a $2,000,000 be aware payable (the “Be aware”). The Be aware matures April 14,
2023 and bears curiosity at fifteen p.c (15%) per 12 months. The Firm pays curiosity at maturity, at which period all principal and unpaid
curiosity is due.

The
Be aware is collateralized by all enterprise property, together with patents, logos and different mental property. Additionally it is collateralized
by the possession of Slinger Bag Americas, Inc., Slinger Bag Canada, Inc., Slinger Bag Restricted, and Slinger Bag Worldwide (UK) Restricted.

In
reference to the Be aware, the Firm issued 2,200,000 warrants with an train worth of $0.25. The train worth has customary anti-dilution
safety for inventory splits, mergers, and so forth. Moreover, the warrant incorporates a stipulation that the Firm will assure the worth
of the shares offered shall be no much less, on common, than $1.50 per share via April 15, 2023. If the worth is much less
than $1.50, the Firm will challenge further shares of frequent inventory to compensate for the shortfall, which might lead to an infinite
variety of shares being required to be issued.

The
Firm evaluated the warrants and the revenue assure underneath the steering in ASC 815-40, Derivatives and Hedging, and decided they
signify a spinoff legal responsibility given the revenue assure represents a make-whole provision that isn’t separated from the host instrument.
The spinoff legal responsibility is marked to market on the finish of every reporting interval with the non-cash achieve or loss recorded within the interval
as a achieve or loss on spinoff.

The
honest worth of the spinoff legal responsibility on the date of the execution of the Be aware was valued utilizing
a Black-Scholes possibility pricing mannequin at $14,501,178, which was first allotted as
a reduction to the Be aware payable of $2,000,0000, which shall be amortized
utilizing the efficient curiosity methodology over the remaining time period of the Be aware, with the rest of the worth of $12,501,178 recorded
as curiosity expense.

Amortization
of debt reductions throughout the 12 months ended April 30, 2021 was $10,477, which was recorded as amortization of debt low cost within the accompanying
consolidated statements of operations. The unamortized low cost steadiness amounted to $1,989,523 as of April 30, 2021.

The
honest worth of the spinoff legal responsibility was $12,583,598 as of April 30, 2021, and the Firm acknowledged a achieve on change in honest worth
of $1,917,580 for the 12 months ended April 30, 2021.

NOTE
8: RELATED PARTY TRANSACTIONS

In
assist of the Firm’s efforts and money necessities, it could depend on advances from associated events till such time that the Firm
can assist its operations or attain enough financing via gross sales of its fairness or conventional debt financing. There isn’t any formal
written dedication for continued assist by officers, administrators, or shareholders. Quantities signify advances, quantities paid in
satisfaction of liabilities, or accrued compensation that has been deferred. The advances are thought of momentary in nature and
haven’t been formalized by a promissory be aware.

As
of April 30, 2021 and 2020, quantities as a result of associated events have been $1,283,464 and $377,106, respectively, which represented unpaid salaries
and bonuses and reimbursable bills as a result of officers of the Firm.

The
Firm has excellent notes payable of $6,220,000 and $2,100,000
and accrued curiosity of $747,636 and $138,967 as a result of a associated get together as of April 30, 2021 and 2020, respectively (see Be aware 5).

The
Firm acknowledged web gross sales of $615,584 throughout the 12 months ended April 30, 2021, to a associated get together. As of April 30, 2021, the associated
get together had accounts receivable as a result of Firm of $86,956. There have been no gross sales to this associated get together throughout the 12 months ended April 30,
2020.

NOTE
9: SHAREHOLDERS’ DEFICIT

Frequent
Inventory

The
Firm has 300,000,000 shares of frequent inventory licensed with a par worth of $0.001 per share. As of April 30, 2021 and 2020, the Firm
had 27,642,828 and 24,749,354 shares of frequent inventory issued and excellent, respectively.

Fairness
Transactions Throughout Yr Ended April 30, 2020

On
March 2, 2020, the Firm issued 369,354 shares of frequent inventory for the conversion of an excellent convertible be aware payable
of $125,000 and accrued curiosity of $4,274. Upon conversion of the be aware payable steadiness, the spinoff legal responsibility of $53,571 associated
to the convertible be aware payable was reclassified as further paid-in capital as a part of shareholders’ fairness.

The
buy worth of $332,239 underneath the Inventory Buy Settlement (see Be aware 1), which resulted in shares of Lazex being acquired by
the shareholder of SBL, was paid by SBL on behalf of the shareholder. The quantity has been recorded as a distribution to shareholder and
due to this fact is classed as a discount of further paid-in capital.

In
reference to the Inventory Buy Settlement (see Be aware 1), web liabilities of $15,289 have been forgiven by the earlier majority shareholder
of the Firm, which was recorded as a rise to further paid-in capital.

On
March 16, 2020, the Firm issued warrants valued at $112,990 in reference to a be aware payable (see Be aware 7), which elevated
further paid-in capital.

Fairness
Transactions Throughout Yr Ended April 30, 2021

On
Could 6, 2020, the Firm issued 1,216,560 shares of its frequent inventory to Mont-Saic as partial satisfaction of the shares issuable
underneath a convertible be aware payable settlement.

On
Could 15, 2020, the Firm issued 243,800 shares of its frequent inventory to a vendor as compensation for enterprise advisory providers carried out,
which resulted in $65,826 of normal and administrative bills for the 12 months ended April 30, 2021.

On
September 4, 2020, the Firm issued 300,000 shares of its frequent inventory for the conversion of a convertible be aware payable (see
Be aware 6). The honest worth of the frequent inventory was $238,449.

On
October 8, 2020, the Firm issued 100,000 shares of its frequent inventory to a vendor as compensation for enterprise advisory providers carried out,
which resulted in $114,000 of working bills for the 12 months ended April 30, 2021.

On
October 28, 2020, the Firm granted 400,000 warrants to a service supplier for promoting providers over the subsequent 12 months. The warrants
have an train worth of $0.75 per share, a contractual lifetime of 10 years from the date of issuance, and vest quarterly over a 12 months from
the grant date. The warrants have been valued utilizing a Black-Scholes possibility pricing mannequin and the expense associated to the issuance of the warrants
is being acknowledged over the service settlement. The Firm acknowledged $221,826 of working bills associated to this settlement throughout
the 12 months ended April 30, 2021.

On
October 29, 2020, the Firm and the three members of its advisory board entered into agreements whereby every member will obtain an
combination variety of warrants every quarter equal to $7,500 divided by the common closing worth of the Firm’s inventory for the 5
days previous to the Firm’s most not too long ago accomplished fiscal quarter. The warrants vest quarterly, have an train worth of $0.001
per share and a contractual lifetime of 10 years from the date of issuance. 43,107 warrants have been issued underneath these agreements throughout the
12 months ended April 30, 2021. The warrants have been valued utilizing a Black-Scholes possibility pricing mannequin, which resulted in working bills
of $48,502 throughout the 12 months ended April 30, 2021.

On
November 24, 2020 and on January 11, 2021, the Firm issued 46,087 and 100,000 shares of its frequent inventory, respectively, to
two distributors as compensation for advertising and different advisory providers. The Firm additionally issued 55,945 shares of its frequent inventory on November
24, 2020 to a third-party vendor as full settlement of payables of $30,000 associated to consulting providers, which resulted in a $25,278
loss on extinguishment of debt. The full honest worth of the shares issued associated to those transactions was $198,386, of which $39,750
was acknowledged in prepaids and different property and shall be acknowledged over the interval that the associated providers are rendered. As of April
30, 2021, there was $26,500 in prepaids associated to those transactions and the remaining $146,608 was acknowledged as working bills
for the 12 months ended April 30, 2021.

On
November 10, 2020, the Firm issued 35,000 shares of frequent inventory as partial fee for the acquisition of the Slinger trademark. The
frequent inventory had a good worth of $35,351 on the date of issuance, which has been capitalized as an intangible asset on the steadiness
sheet.

On
December 15, 2020, the Firm issued 500,000 shares of frequent inventory as full fee of its $500,000 be aware payable to a 3rd get together (see
Be aware 7). The honest worth of the shares issued was $500,000.

On
April 11, 2021, the Firm issued 272,332 shares of its frequent inventory for the conversion of a be aware payable (see
Be aware 7). The honest worth of the shares issued was $1,250,004.

On
April 11, 2021 and on April 13, 2021, the Firm issued 18,750 and 5,000 shares of its frequent inventory to 2 distributors as compensation for
advertising and advisory providers, which resulted in an working expense of $43,294 for the 12 months ended April 30, 2021.

Throughout
the three months ended April 30, 2021, the Firm granted an combination complete of 60,000 warrants and fairness choices for 120,00 shares
(which have all expired unexercised) to 4 of its model ambassadors as compensation. The warrants have an train worth of $0.001
per share, a contractual lifetime of 10 years from the date of issuance and are vested instantly upon grant and the shares had a 90 day
train interval at a 50% low cost on the inventory worth. The warrants and shares have been valued utilizing a Black-Scholes possibility pricing mannequin
and the expense associated to the issuance of the warrants and fairness choices is being acknowledged over the service agreements. The Firm
acknowledged $59,838 and $98,457 of working bills associated to the warrant and fairness choices, respectively, throughout the 12 months ended April
30, 2021.

Frequent
Inventory Issuable

As
mentioned in Be aware 6, on September 16, 2019, the Firm entered right into a warrant task and conveyance settlement with Mont-Saic,
pursuant to which the Firm permits Mont-Saic to amass 33% of the excellent frequent inventory shares of the Firm on a fully-diluted
foundation for no consideration. The allotted worth of the warrant amounted to $1,492,188 was mirrored as further paid-in capital
throughout the 12 months ended April 30, 2020.

There
have been 8,137,859 shares of frequent inventory that have been issuable underneath this settlement and as of April 30, 2020 not one of the shares had been
issued. As of April 30, 2021, 1,216,560 shares have been issued and the remaining 6,921,299 proceed to be issuable to a associated
get together.

Warrants
Issued for Compensation

On
April 30, 2020, the Firm granted an combination complete of 12,500,000 warrants to key workers and officers of the Firm as compensation.
The warrants have an train worth of $0.001 per share, a contractual lifetime of 10 years from the date of issuance and are vested instantly
upon grant. The warrants granted as compensation throughout the 12 months ended April 30, 2020 have been valued utilizing a Black-Scholes possibility
pricing mannequin. The full share-based compensation expense associated to the issuance of the warrants amounted to $3,741,746.

On
February 9, 2021, the Firm issued 6,000,000 warrants to key workers and officers of the Firm as a efficiency bonus. The
warrants have an train worth of $0.001 per share for non-U.S. warrant holders (1,500,000 warrants) and an train worth of
$3.94, which is the same as the closing worth of the Firm’s frequent inventory on the grant date, for U.S. warrant
holders. The warrants have been valued utilizing a Monte Carlo simulation with the important thing inputs as of 4/30/20 being the executives’ three-year
settlement time period, the Firm’s $100 million market capitalization threshold being achieved, a threat free price of 0.76%, and a inventory
worth volatility of 63% as a result of the warrant grant was contingent on a market situation being achieved. The Firm acknowledged $70,997
of share-based compensation associated to those awards throughout the 12 months ended April 30, 2021.

NOTE
10: COMMITMENTS AND CONTINGENCIES

Leases

The
Firm leases workplace house underneath short-term leases with phrases underneath a 12 months. Whole lease expense for the 12 months ended April 30, 2021 and
2020 amounted to $8,400 and $2,800, respectively.

Contingencies

From
time to time, the Firm might develop into concerned in authorized proceedings arising within the peculiar course of enterprise. The Firm will not be presently
a celebration to any authorized proceedings that it at present believes would individually or taken collectively have a fabric adversarial impact on the
Firm’s enterprise or monetary statements.

NOTE
11: INCOME TAXES

The
Firm does enterprise within the US via its subsidiaries Slinger Bag Inc. and Slinger Bag Americas. It additionally does enterprise in Israel via
SBL whose operations are mirrored within the Firm’s consolidated monetary statements. The Firm’s operations in Canada
and the UK have been immaterial for the years ended April 30, 2021 and 2020.

Web
deferred tax property from operations within the US, utilizing an efficient tax price of 21%, consisted of the next:

April
30,
April
30,

2021
2020



Deferred
tax property:


Loss
carryforwards
$788,400
$301,000
Accrued payroll
333,700
–
Associated
get together accruals
194,400
79,000
Begin-up
prices
109,600
61,000
Different
17,900
–
Valuation
allowance
(1,444,000)
(441,000)
Web
deferred tax property
$-
$-

The
revenue tax provision differs from the quantity of revenue tax decided by making use of the relevant statutory revenue tax price to pretax
loss as a result of following for the years ended April 30, 2021 and 2020:

April
30,
April
30,
2021
2020

  Earnings
tax profit primarily based on guide loss at US statutory price
$(3,832,300)
$(1,273,000)Share-based
compensation and shares for providers
188,100
786,000 Debt
low cost amortization
79,100
15,000 Associated
get together accruals
127,800
79,000 Begin-up
prices
–
61,000 Curiosity
expense
2,630,000
41,000 Meals
and leisure
–
1,000 Loss
on extinguishment of debt
636,400
– Accrued
payroll
215,400
– Achieve on change
in honest worth of derivatives
(407,300)
– Different
1,500
– Valuation
allowance
361,300
290,000 Whole
revenue tax provision
$-
$-

The
Firm had web working loss carryforwards of $3,032,000 and $1,424,000 as of April 30, 2021 and 2020, respectively,
which can be utilized to offset future taxable revenue within the US for the years ended 2022 via 2041. Tax years that stay topic to
examination are 2017 and ahead.

Web
deferred tax property from operations in Israel, utilizing an efficient tax price of 23%, consisted of the next:

April
30,
April
30,
2021
2020

  Deferred
tax property:

   Loss
carryforwards
$178,000
$384,000 Accrued
bills
–
63,000 Begin-up
prices
13,000
– Analysis
and improvement prices
113,000
23,000 Valuation
allowance
(304,000)
(470,000)Web
deferred tax property
$-
$-

The revenue
tax provision differs from the quantity of revenue tax decided by making use of the relevant Israeli statutory revenue tax price of 23% due
to the next for the years ended April 30, 2021 and 2020:

April
30,
April
30,
2021
2020

  Earnings
tax provision (profit) primarily based on guide revenue (loss) at Israeli statutory price
$80,000
$(728,000)Debt
low cost amortization
–
430,000 Associated
get together accruals
–
44,000 Journey
bills
–
38,000 Analysis
and improvement prices
113,000
23,000 Different
non-deductible gadgets
–
9,000 Begin-up
prices
13,000
– Valuation
allowance
–
184,000 Loss
carryforward
(206,000)
– Whole
revenue tax provision
$-
$-

The
Firm had web working loss carryforwards of roughly $774,000 and $1,671,000 as of April 30, 2021 and 2020, respectively, which
can be utilized to offset future taxable revenue in Israel. The entire Firm’s tax years since inception are open for examination.

The
Firm’s coverage is to document curiosity and penalties on unsure tax positions as revenue tax expense. There have been no curiosity or
penalties acknowledged within the accompanying consolidated statements of operations for the 12 months ended April 30, 2021 or 2020.

NOTE
12: SUBSEQUENT EVENTS

On
Could 26, 2021, the Firm and the associated get together lender entered right into a be aware conversion settlement whereby the associated get together lender agreed
to transform its complete excellent borrowings as of that date of $6,220,000 into 1,636,843 shares of the Firm’s frequent inventory.
Per the phrases of the be aware conversion settlement the accrued curiosity associated to the debt was not transformed into shares and continues to be due
to the associated get together. The be aware conversion settlement incorporates a assure that the combination product sales of the shares by the associated
get together shall be at least $6,220,000 over the subsequent three years and if the combination product sales are lower than $6,220,000 the Firm
will challenge further shares of frequent inventory to the associated get together for the distinction between the entire gross proceeds and $6,220,000.

On
June 21, 2021, the Firm entered right into a membership curiosity buy settlement (“MIPA”) with Charles Ruddy (the “Vendor”)
to amass a 100% possession stake in Basis Sports activities Techniques, LLC (“Basis Sports activities”) in trade for 1,000,000 shares
of frequent inventory of the Firm to be issued to the Vendor and two different Basis Sports activities workers in three tranches (the “Buy
Value”): (i) 600,000 shares of frequent inventory on the deadline, 200,000 shares of frequent inventory on the primary anniversary of the
deadline and (iii) 200,000 shares of frequent inventory on the second anniversary of the deadline (collectively, the “Shares”),
offered that 10% of the Shares of every tranche shall be held again by the Firm and never delivered to the recipients for a interval of
12 months from the date of their issuance. The Shares are topic
to a 12-month lock-up from their date of supply throughout which period they will not be provided or offered by the Vendor or another recipient
thereof with out the specific written consent of the Firm. On June 23, 2021, the Firm issued 540,000 shares of its frequent inventory to
the receipts underneath the MIPA, which consisted of 600,000 shares much less a hold-back of 10% (i.e., 60,000 shares).

On
July 21, 2021, the Firm entered right into a Convertible Mortgage Settlement with PlaySight Interactive Ltd (the Borrower) whereby the Firm
granted the Borrower a $2,000,000 line of credit score with a six-month maturity date. Any borrowings underneath the road of credit score bear curiosity
at a price of 15% each year. On July 26, 2021, the Firm issued $300,000 to the Borrower underneath the road of credit score.

On
July 23, 2021, the Firm entered right into a mortgage settlement with its associated get together lender for borrowings of $500,000. The mortgage is to be
repaid inside 30 days of receipt and shall bear curiosity at a price of 12% each year.

On
August 2, 2021, the Firm entered right into a mortgage settlement with its associated get together lender for borrowings of $500,000. The mortgage is to be
repaid inside 30 days of receipt and shall bear curiosity at a price of 12% each year.

Throughout
the three months ended July 31, 2021, the Firm issued 68,965 shares of its frequent inventory to 1 vendor and two workers as compensation
for advertising and different providers rendered.

Throughout
the three months ended July 31, 2021, the Firm granted an combination complete of 90,937 shares of its frequent inventory to 6 model ambassadors
as compensation for providers.

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

None.

ITEM
9A. CONTROLS AND PROCEDURES

We
preserve disclosure controls and procedures which are designed to make sure that data required to be disclosed within the reviews that
we file underneath the Securities Change Act of 1934 (the “Change Act”) is recorded, processed, summarized and reported inside
the time durations specified within the Safety and Change Fee’s guidelines and varieties, and that such data is accrued
and communicated to our administration, together with our Chief Govt Officer and Chief Monetary Officer (Principal Monetary Officer),
as acceptable, to permit for well timed selections relating to required disclosures. In designing and evaluating the disclosure controls and
procedures, administration acknowledges that any controls and procedures, irrespective of how effectively designed and operated, can solely present affordable
assurance of reaching the specified management targets, and administration is required to use its judgment in evaluating the cost-benefit
relationship of attainable controls and procedures.

Underneath
the supervision and with the participation of our administration, together with our Chief Govt Officer and Chief Monetary Officer, we evaluated
the effectiveness of the design and operation of our disclosure controls and procedures (as outlined in Rule 13a-15(e) underneath the Change
Act) as of the tip of the interval coated by this report. Based mostly upon that analysis, our Chief Govt Officer and Interim Chief Monetary
Officer concluded that our disclosure controls and procedures weren’t efficient as of April 30, 2021.

Adjustments
in Inner Management Over Monetary Reporting

There
has not been any change in our inside management over monetary reporting (as outlined in Rule 13a-15(f) underneath the Change Act) throughout
the 12 months ended April 30, 2021 that has materially affected, or within reason prone to materially have an effect on, our inside management over monetary
reporting.

Administration’s
Report on Inner Management Over Monetary Reporting

Our
administration is accountable for establishing and sustaining enough inside management over monetary reporting. Inner management over
monetary reporting is outlined in Guidelines 13a-15(f) underneath the Change Act as a course of designed by, or underneath the supervision of, our Chief
Govt Officer and Interim Chief Monetary Officer and effected by our Board of Administrators, administration and different personnel to supply
affordable assurance relating to the reliability of economic reporting and the preparation of economic statements for exterior functions
in accordance with accounting rules typically accepted in america and consists of these insurance policies and procedures that:

●
pertain
to the upkeep of data that in affordable element precisely and pretty replicate the transactions and tendencies of our property;
and

●
present
affordable assurance that transactions are recorded as obligatory to allow preparation of economic statements in accordance with
accounting rules typically accepted in america, and our receipts and expenditures are being made solely in accordance
with authorizations of our administration and administrators; and

●
present
affordable assurance relating to prevention or well timed detection of unauthorized acquisition, use or disposition of our property that
might have a fabric influence on the monetary statements.

As a result of
of inherent limitations, inside management over monetary reporting might not stop or detect misstatements. Additionally, projections of any
analysis of effectiveness to future durations are topic to the dangers that controls might develop into insufficient due to modifications in circumstances,
or that the diploma of compliance with the insurance policies or procedures might deteriorate. Our analysis of inside management over monetary reporting
consists of utilizing the standards in Inner Management-Built-in Framework (2013), an built-in framework issued by the Committee of Sponsoring
Organizations of the Treadway Fee, for the analysis of inside management to establish the dangers and management targets associated
to the analysis of our management atmosphere.

Based mostly
on our analysis underneath the framework described above, our administration has concluded that our inside management over monetary reporting
was not efficient as of April 30, 2021 as a result of following materials weaknesses that have been recognized:

●
The
Firm lacks enough segregation of duties as a result of small measurement of the group. Additional, the Firm lacks an impartial Board
of Administrators or Audit Committee to make sure enough monitoring or oversight.

●
The
Firm lacks accounting assets and controls to forestall or detect materials misstatements. Particularly, the Firm continues to
have a fabric weak spot in our controls over accounting for stock as a result of an absence of controls over making certain stock motion was
being processed precisely and in a well timed method, which resulted in vital audit changes regarding the worth of our stock
and value of gross sales. Additional, whereas the Firm engages service suppliers to help with US GAAP compliance the Firm lacks assets
with enough data to supervise these providers. Lastly, the Firm doesn’t have ample assets to finish well timed reconciliations
and transactional evaluations, which resulted in delays within the monetary reporting course of.

To
remediate the fabric weaknesses, we’ve got initiated compensating controls within the close to time period and are enhancing and revising our
present controls, together with making certain we’ve got ample administration evaluate procedures and enough segregation of duties. The fabric
weaknesses won’t be thought of remediated till the relevant controls function for a ample time frame and administration
has concluded they’re working successfully.

This
Annual Report doesn’t embody an attestation report of our impartial registered public accounting agency relating to inside management
over monetary reporting. Our administration’s report was not topic to attestation by our impartial registered public accounting
agency pursuant to guidelines of the Securities and Change Fee that let us to supply solely administration’s report on this Annual
Report.

ITEM
9B. OTHER INFORMATION

Administration
Adjustments

None.

Acquisitions

None.

PART
III

ITEM
10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE

DIRECTORS
AND EXECUTIVE OFFICERS

Our
govt officers and administrators and their respective ages as on the date hereof are as follows:

Identify

Age

Positions
and OfficesMike
Ballardie

60

President,
Chief Govt Officer, Treasurer and DirectorTom
Dye
Paul
McKeown
Juda
Honickman

68
66
35

Chief
Working Officer
Chief
Monetary Officer
Chief
Advertising and marketing OfficerMark
Radom

52

Basic
CounselYonah
Kalfa

39

Chief
Innovation Officer

The
director named above will serve till the subsequent annual assembly of the shareholders or till his resignation or elimination from workplace.
Thereafter, administrators are anticipated to be elected for one-year phrases on the annual shareholders’ assembly. Officers will
maintain their positions pursuant to their respective service agreements.

Set
forth under is a short description of the background and enterprise expertise of our govt officers and administrators for the previous 5
years.

Skilled
Historical past of Mike Ballardie

Mike
is an skilled and well known tennis trade chief with 35 years of expertise in Tennis as a participant, a coach and enterprise
chief. Mike began his tennis enterprise profession at Wilson
within the late Eighties the place he spent 11 years rising and in the end main Wilson’s EMEA Racquetsports division.

In
2002, Mike joined Prince Sports activities Europe as vice-president and managing director and stayed on this position via 2012. In 2003 Mike was
a part of the administration buyout workforce that acquired the Prince model from Benetton Sports activities in partnership with a non-public fairness group. In
2007, after a extremely profitable enterprise turnaround the enterprise was offered with the administration workforce in place to a different U.S.
primarily based personal fairness group.

In
2013, Mike grew to become the Chief Govt Officer of Prince World Sports activities, a job by which he stayed till 2016.

After
Prince World Sports activities, Mike owned and operated FED Sports activities Consulting the place he managed all features of a significant restructuring venture involving
Waitt Manufacturers (a holding firm for Prince World Sports activities).

Instantly
previous to becoming a member of Prince Sports activities, Mike labored for VF Corp., the place he constructed the worldwide enterprise for his or her JanSport model from scratch.

Mike
additionally served for a few years as an Govt Board Director for the Tennis Business Affiliation (TIA) each within the USA and within the UK. Mike
has been on the forefront of most of the most profitable tennis racket improvements over this era and extremely regarded throughout this trade
sector.

Skilled
Historical past of Tom Dye

Mr.
Dye has over 35 years of senior administration expertise in numerous client items and manufacturing segments throughout the Americas, Asia,
Europe, Australia and Center East. From 1977 to 1990, Tom served as Vice President of Worldwide Operations at Wilson Sporting Items
the place he was accountable for a number of worldwide start-up operations, together with launching the primary wholly U.S. owned sporting items
firm in Japan. From 1990 to 2001, Tom served as President of Worldwide Exports at The Coleman Firm. From 2002 to 2009, Tom
served in numerous roles at Prince World Sports activities, the main world producer of tennis rackets, in numerous roles, together with Vice
President of Operations, Vice President/Basic Supervisor of Worldwide Operations, Nationwide Gross sales Supervisor and appearing
Chief Monetary Officer. From 2012 to 2014, Tom served as Chief Working Officer at Prince World Sports activities. From 2015 to
2017, Tom served as Chief Working Officer of HazTek, Inc.

Skilled
Historical past of Paul McKeown

Holding
a Chartered Skilled Accountant designation (CPA-CMA) in Canada, Paul has 40+ years’ expertise in senior administration targeted
on finance, operations and IT features in massive multinational firms (37 years in sporting items).

Paul
began his sporting items enterprise profession within the early Eighties at Wilson Sporting Items Canadian subsidiary, the place he led the finance,
IT and operations features. Recognizing sturdy processes and efficiency of the Canadian unit, Paul was appointed to a small workforce of
executives to supply on-going useful assist to new entities being established in Latin America and Asia.

In
1989, Wilson was acquired by Amer Sports activities which via additional acquisitions (Atomic, Suunto, Precor and Salomon) grew to become the biggest sports activities
“exhausting items” tools provider on the earth. These acquisitions required management to combine into Amer’s processes,
and Paul led the finance and operations integration groups for Canada, Latin America, and Asia.

As
a outcome, Paul was appointed Director of Course of Integration & Improvement for North America. A key initiative underneath his management
was transition of economic transactional processing for all Amer North American enterprise models to the World Monetary Shared Service
group in Poland.

Following
that, he was appointed Vice President Finance for Amer’s Precor Health model – headquartered in Seattle Washington. In that
position, he re-organized the finance workforce, and launched new instruments and processes which result in vital enhancements in monetary
efficiency and enterprise management.

In
spring 2018 he retired from lively service and commenced a consulting profession with deal with monetary/IT processes. He joined Slinger Bag
in the summertime of 2019 as a advisor and in April 2020 was appointed Chief Monetary Officer of Slinger Bag.

Skilled
Historical past of Juda Honickman

Juda
Honickman is Chief Advertising and marketing Officer for Slinger Bag Inc. Juda joined Slinger Bag in October 2017 to guide product design and total
technique for the corporate’s pre-sale crowdfunding initiative, which exceeded its objective by 2,600%. He’s accountable for overseeing
the planning, improvement and execution of the Firm’s advertising and promoting initiatives together with making certain that
the Firm’s providing and model messaging is distributed throughout all channels and is successfully concentrating on audiences in
order to fulfill gross sales targets. In his position, Juda oversees the worldwide communications of Slinger’s model, together with client insights,
digital advertising, inventive improvement, company administration, advertising effectiveness, social accountability, sponsorships, media and worker
communications. Juda beforehand served as The Director of Advertising and marketing and Technique for a world authorized tech firm and earlier than that oversaw
advertising and gross sales for an progressive client tech enterprise.

Skilled
Historical past of Mark Radom

Since
September 2019, Mark Radom has been normal counsel of Slinger Bag Inc. Mr. Radom has additionally served as normal counsel of The Better Hashish
Firm, Inc. and from February 2010 via July 2015, normal counsel and chief carbon officer of Blue Sphere Company. From 2009
via 2010, Mr. Radom was managing director of Carbon MPV Restricted, a Cyprus firm targeted on creating renewable power and carbon
credit score initiatives. From 2007 to 2009, Mr. Radom was normal counsel and chief working officer of Carbon Markets World Restricted, a London-based
carbon credit score and renewable power venture developer. Mr. Radom has intensive expertise in enterprise improvement within the renewable power
and carbon credit score sectors. He has sourced over U.S. $100,000,000 in renewable power, industrial fuel and carbon credit score initiatives and managed
many complicated features of their implementation. He was authorized counsel for numerous carbon and ecological venture builders and was accountable
for structuring joint ventures and advising on creating initiatives via the CDM/JI registration cycle and emission discount buy
agreements underneath the auspices of the Kyoto Protocol. Previous to this, he labored on Wall Avenue and within the Metropolis of London as a US securities
and capital markets lawyer the place he represented sovereigns, world funding banks and fortune 500 firms throughout a broad vary of
capital elevating and company transactions. He’s a graduate of Duke College and Brooklyn Regulation Faculty. Mr. Radom is admitted to apply
legislation in New York and New Jersey and speaks fluent Russian.

Skilled
Historical past of Yonah Kalfa

Yonah
Kalfa joined Slinger Bag as its Chief Innovation Officer in September 2020. Previous to becoming a member of Slinger Bag, Mr. Kalfa owned and operated
NA Dental, an organization lively within the dental provide enterprise since 2010. Mr. Kalfa is a director of Pharmedica Ltd., Plaqless Ltd., Dusmit
Ltd. and Parasonic Ltd.

TERM
OF OFFICE

All
administrators maintain workplace till the subsequent annual assembly of the shareholders of the Firm and till their successors have been duly
elected and certified. The Firm’s Bylaws present that the Board of Administrators will encompass at least three members. Officers
are elected by and serve on the discretion of the Board of Administrators.

DIRECTOR
INDEPENDENCE

Our
board of administrators is at present composed of 1 member, who doesn’t qualify as an impartial director in accordance with the revealed
itemizing necessities of the NASDAQ World Market. The NASDAQ independence definition features a sequence of goal checks, reminiscent of that
the director will not be, and has not been for at the least three years, one in all our workers and that neither the director, nor any of his household
members has engaged in numerous forms of enterprise dealings with us. As well as, our board of administrators has not made a subjective dedication
as to every director that no relationships exist which, within the opinion of our board of administrators, would intrude with the train of
impartial judgment in finishing up the duties of a director, although such subjective dedication is required by the NASDAQ
guidelines. Had our board of administrators made these determinations, our board of administrators would have reviewed and mentioned data offered
by the administrators and us with regard to every director’s enterprise and private actions and relationships as they could relate to
us and our administration.

CERTAIN
LEGAL PROCEEDINGS

No
director, nominee for director, or govt officer of the Firm has appeared as a celebration in any authorized continuing materials to an analysis
of his skill or integrity throughout the previous ten years.

SIGNIFICANT
EMPLOYEES

Different
than our officers and director, we at present have just one different one who we take into account to be a big worker –
Charles Ruddy, who’s President of our recently-acquired subsidiary, Basis Sports activities Techniques, LLC (“Basis Sports activities”).

Charles
Ruddy has been the President and Founding father of Basis Sports activities since August 2017. Previous to establishing Basis Sports activities, Mr. Ruddy was
a advisor to Tennis Join / Tennis Business Affiliation from 2004 – 2017 the place he designed and managed the tennis trade’s
first software program as a service platform in 2004.

AUDIT
COMMITTEE AND CONFLICTS OF INTEREST

Since
we would not have an audit or compensation committee comprised of impartial administrators, the features that might have been carried out by
such committees are carried out by our administrators. The Board of Administrators has not established an audit committee and doesn’t have an audit
committee monetary knowledgeable, nor has the Board of Administrators established a nominating committee. The Board is of the opinion that such
committees will not be obligatory for the reason that Firm is an early improvement stage firm and has just one director, and thus far, such
director has been performing the features of such committees. Thus, there’s a potential battle of curiosity in that our administrators
and officers have the authority to find out points regarding administration compensation, nominations, and audit points which will have an effect on
administration selections.

There
are not any household relationships amongst our administrators or officers, or individuals nominated or chosen to be a director or officer. Different
than as described above, we’re not conscious of another conflicts of curiosity with any of our govt officers or administrators.

SECTION
16(A) BENEFICIAL OWNERSHIP REPORTING COMPLIANCE

Our
Frequent Inventory will not be registered pursuant to Part 12 of the Change Act. Accordingly, our officers, administrators and principal shareholders
will not be topic to the useful possession reporting necessities of Part 16(a) of the Change Act.

CODE
OF ETHICS

The
Firm has not adopted a code of ethics that applies to its principal govt officers, principal monetary officer, principal accounting
officer or controller, or individuals performing related features. The Firm has not adopted a code of ethics as a result of it has solely commenced
operations.

ITEM
11. EXECUTIVE COMPENSATION

Abstract
Compensation Desk

The
desk under summarizes all compensation awarded to, earned by, or paid to our then Officers for all providers rendered in all capacities
to us for the fiscal years ended as indicated.

Identify
and Principal Place

Yr
ended April 30

Wage
($)

Bonus
($)

Share
Awards ($)

Non-Fairness
Incentive Plan Compensation ($)

All
different compensation ($)

Whole
($)
Mike
Ballardie (1)

2021

360,109

635,000

–

       –

119,714

1,114,823


2020

226,750

112,500

1,496,698

–

82,212

1,918,160
Judah
Honickman (2)

2021

96,000

51,000

–

–

–

147,000


2020

107,915

51,000

748,349

–

–

907,264
Paul
McKeown (3)

2021

298,589

90,000

23,756

–

–

412,345


2020

101,525

–

374,174

–

–

475,699
Tom
Dye (4)

2021

120,000

30,000

15,747

–

–

165,747


2020

90,292

–

374,174

–

–

464,466
Mark
Radom (5)

2021

84,000

21,000

15,747

–

–

120,747


2020

34,000

–

374,174

–

–

408,174
Yonah
Kalfa (6)

2021

120,000

30,000

–

–

–

150,000

(1)
Mr.
Ballardie has served because the Firm’s Principal Govt Officer and as Chairman of
the Board of Administrators since September 16, 2019 and has an deal with at 2709 N. Rolling Highway,
Suite 138, Windsor Mill, MD 21244.(2)
Mr.
Honickman has served because the Firm’s Chief Advertising and marketing Officer since September 16, 2019 and has an deal with at 2709 N. Rolling
Highway, Suite 138, Windsor Mill, MD 21244.(3)
Paul
McKeown has served because the Firm’s Chief Monetary Officer since April 30, 2020 and has an deal with at 2709 N. Rolling
Highway, Suite 138, Windsor Mill, MD 21244.(4)
Tom
Dye has served because the Firm’s Chief Working Officer since April 30, 2020 and has an deal with at 2709 N. Rolling Highway, Suite
138, Windsor Mill, MD 21244.(5)

(6)
Mark
Radom has served because the Firm’s Basic Counsel since September 16, 2019 and has
an deal with at 2709 N. Rolling Highway, Suite 138, Windsor Mill, MD 21244.
Yonah
Kalfa has served because the Firm’s Chief Innovation Officer since September 7, 2020 and has an deal with at 2709 N. Rolling Highway,
Suite 138, Windsor Mill, MD 21244.

SHARE-BASED
COMPENSATION GRANTS

The
share-based awards within the above compensation desk signify the grant date honest worth of warrant awards issued to officers and
executives and was decided in accordance with ASC Matter 718.

SERVICE
AGREEMENTS

The
Firm is a celebration to service agreements with every of its govt officers.

DIRECTOR
COMPENSATION

The
following desk units forth director compensation for the years ended April 30, 2021 and 2020:

Identify

Yr
Ended April 30

Charges
earned or paid in money ($)

Inventory
Awards ($)

Whole
($)
Mike
Ballardie

2021

–

–

–

2020

–

–

–

Inventory
Choices/SAR Grants.

None.

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

CERTAIN
RELATIONSHIPS AND RELATED TRANSACTIONS

We
haven’t entered into any transactions by which any of our administrators, govt officers, or associates, together with any member of a direct
household, had or are to have a direct or oblique materials curiosity apart from the entry into the unique distribution settlement with
Framework Sports activities and Advertising and marketing Ltd. dated Could 20, 2020 for the UK and Eire, which is owned by the brother of our chief
govt officer.

SECURITY
OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT

The
following desk units forth sure data, as of July 31, 2021, with respect to any individual (together with any “group”,
as that time period is utilized in Part 13(d)(3) of the Securities Change Act of 1934, as amended (the “Change Act”)) who’s
recognized to us to be the useful proprietor of greater than 5 p.c (5%) of any class of our voting securities, and as to these shares of
our fairness securities beneficially owned by every of our administrators and govt officers and all of our administrators and govt officers
as a bunch. Until in any other case specified within the desk under, such data, aside from data with respect to our administrators and
govt officers, is predicated on a evaluate of statements filed with the Securities and Change fee (the “Fee”)
pursuant to Sections 13 (d), 13 (f), and 13 (g) of the Change Act with respect to our frequent inventory.

The
variety of shares of frequent inventory beneficially owned by every individual is decided underneath the principles of the Fee and the data
will not be essentially indicative of useful possession for another goal. Underneath such guidelines, useful possession consists of any shares
as to which such individual has sole or shared voting energy or funding energy and likewise any shares which the person has the proper to
purchase inside sixty (60) days after the date hereof, via the train of any inventory possibility, warrant or different proper. Until in any other case
indicated, every individual has sole funding and voting energy (or shares such energy along with his or her partner) with respect to the shares
set forth within the following desk. The inclusion herein of any shares deemed beneficially owned doesn’t represent an admission of useful
possession of these shares.

The
following desk lists, as on the date hereof, the variety of shares of frequent inventory of our Firm which are beneficially owned by (i)
every individual or entity recognized to our Firm to be the useful proprietor of greater than 5% of the excellent frequent inventory; (ii) every officer
and director of our Firm; and (iii) all officers and administrators as a bunch. Info regarding useful possession of frequent
inventory by our principal shareholders and administration is predicated upon data furnished by every individual utilizing “useful possession”
ideas underneath the principles of the Securities and Change Fee. Underneath these guidelines, an individual is deemed to be a useful proprietor of
a safety if that individual has or shares voting energy, which incorporates the ability to vote or direct the voting of the safety, or funding
energy, which incorporates the ability to vote or direct the voting of the safety. The individual can also be deemed to be a useful proprietor of any
safety of which that individual has a proper to amass useful possession inside 60 days. Underneath the Securities and Change Fee
guidelines, multiple individual could also be deemed to be a useful proprietor of the identical securities, and an individual could also be deemed to be a useful
proprietor of securities as to which she or he might not have any pecuniary useful curiosity. Besides as famous under, every individual has sole
voting and funding energy.

Frequent
Inventory
Identify

#
of Shares (1)

%
of Class (1)
Yonah
Kalfa (3)

19,994,700

32.6
%2672237
Ontario Ltd. (2)

12,524,702

20.4
%Mike
Ballardie (3)

5,000,000

8.1
%Judah
Honickman (3)

2,500,000

4.1
%Paul
McKeown (3)

2,750,000

4.5
%Tom
Dye (3)

2,750,000

4.5
%Mark
Radom (3)

2,776,025

4.5
%All
present officers and administrators as a bunch (6 individuals) (3)

35,770,725

58.2
%

(1)
Useful
Possession is decided in accordance with the principles of the Securities and Change Fee and usually consists of voting or funding
energy with respect to securities. Shares of frequent inventory topic to choices, warrants, convertible debt or convertible most well-liked
shares at present exercisable or convertible, or exercisable or convertible inside 60 days are deemed excellent for computing the
share of the individual holding such possibility or warrant however will not be deemed excellent for computing the proportion of another
individual. Percentages are primarily based on a complete of shares of frequent inventory excellent on July 31, 2021, which was 29,979,573,
and the shares issuable upon train of warrants and convertible debt. The variety of frequent shares utilized in computing this share
is 61,423,668.
(2)
In
reference to a be aware payable issued on June 1, 2019, Mont-Saic Investments acquired a warrant giving them the proper to amass
33% of the excellent shares of the Firm for no cost, which amounted to a complete of 8,137,859 shares issuable. Mont-Saic
subsequently offered it full proper, title and curiosity in that proper to 2672237 Ontario. Presently, the Firm has issued 1,216,560
shares to 2672237 Ontario in satisfaction of the warrant with 6,921,299 shares remaining issuable as of the date of this report.
Moreover, 2672237 Ontario holds 1,636,843 shares of the Firm’s frequent inventory from debt to fairness conversions and has
2,750,000 warrants associated to debt issuances.
(3)
The
above officers and administrators have been granted an combination complete of 11,250,000 and 4,500,000 warrants on April 30, 2020 and
February 9, 2021, respectively, as compensation and bonuses. The April 30, 2020 warrants have an train worth
of $0.001 per share and the February 9, 2021 warrants have an train worth of $0.001 per share for non-U.S. workers and $3.94
for U.S. workers. The entire warrants have a contractual lifetime of 10 years from the date of issuance and are vested instantly
upon grant. Moreover, Yonah Kalfa and Mark Radom have 19,994,700 and 26,025 shares of frequent inventory of the Firm, respectively.

Securities
licensed for issuance underneath fairness compensation plans.

The
desk under offers data relating to all compensation plans as of the tip of probably the most not too long ago accomplished fiscal 12 months (together with
particular person compensation preparations) underneath which fairness securities of the registrant are licensed for issuance.

The
Firm has reserved a complete of 15,000,000 shares for issuance underneath awards to be made underneath the 2020 Plan, all of which can, however want
not, be issued in reference to ISOs. To the extent that an award lapses, expires, is canceled, is terminated unexercised or ceases
to be exercisable for any cause, or the rights of its holder terminate, any shares topic to such award shall once more be accessible for
the grant of a brand new award. The 2020 Plan shall proceed in impact, except sooner terminated, till the tenth (tenth) anniversary of the
date on which it was adopted by the Board of Administrators (besides as to awards excellent on that date). The Board of Administrators in its
discretion might terminate the 2020 Plan at any time with respect to any shares for which awards haven’t theretofore been granted; offered,
nonetheless, that the 2020 Plan’s termination shall not materially and adversely impair the rights of a holder, with out the consent
of the holder, with respect to any award beforehand granted.

Fairness
Compensation Plan InformationPlan
Class

Quantity
of
securities
to be
issued
upon
train
of
excellent
choices,
warrants
and rights
(a)

Weighted-
common
worth
of
excellent
choices,
warrants
and
rights
(b)

Quantity
of securities
remaining
accessible
for
future issuance
underneath
fairness
compensation
plans
(excluding
securities
mirrored
in column
(a))
(c)
Fairness
compensation plans accepted by safety holders

–

–

15,000,000
Fairness
compensation plans not accepted by safety holders

24,503,107

$
1.01

–
Whole

24,503,107

$
1.01

15,000,000

ITEM
13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS

None.

ITEM
14. PRINCIPAL ACCOUNTANT FEES AND SERVICES

The
following is a abstract of charges incurred to our principal impartial accountants for skilled providers rendered in reference to
the audit of our monetary statements and for the quarterly evaluations of our monetary statements.

Fiscal
2021

Fiscal
2020
Audit
Charges

$
102,600

$
87,000
Tax
Charges

–

–
All
Different Charges

–

–
Whole

$
102,600

$
87,000

PART
IV

Merchandise
15. Reveals, Monetary Assertion Schedules

(a)
Monetary Statements

Our
monetary statements as set forth within the Index to Consolidated Monetary Statements underneath Half II, Merchandise 8 of this Annual Report on Type
10-Okay are hereby included by reference.

(b)
Reveals

The
following reveals, that are numbered in accordance with Merchandise 601 of Regulation S-Okay, are filed as a part of this Annual Report on Type
10-Okay or, as famous, included by reference herein:

Exhibit
Quantity

Exhibit
Description

3.1

Articles
of Incorporation*

3.2

Bylaws*

10.1

Type
of Convertible Redeemable Be aware issued on November 20, 2019 **

10.2

Type
of Convertible Redeemable Be aware issued on February 11, 2020 **

10.3

Amended
and Restated Mortgage Settlement Dated December 13, 2019 with 2490585 Ontario Inc. **

10.4

Amended
and Restated Mortgage Settlement Dated December 13, 2019 with 2490585 Ontario Inc. **

10.5

Mortgage
Settlement dated December 11, 2019 with 2490585 Ontario Inc. **

10.6

Mortgage
Settlement dated January 6, 2020 with 2490585 Ontario Inc. **

10.7

Mortgage
Settlement dated March 1, 2020 with 2490585 Ontario Inc. **

10.8

Midcity
12% Promissory Be aware dated March 16, 2020 ***

10.9

Midcity
12% Securities Buy Settlement dated March 16, 2020 ***

10.10

Midcity
12% Warrant Settlement dated March 16, 2020 ***

10.11

Distribution
Settlement with Globeride Inc. dated March 26, 2020 ***

10.12

Mortgage
Settlement dated Could 12, 2020 with 2490585 Ontario Inc.****

10.13

Mortgage
Settlement dated July 3, 2020 with 2490585 Ontario Inc.****

10.14

First
Modification to Promissory Be aware and Mortgage Agreements dated June 1, 2020 with Montsaic Investments, LLC****

10.15

Mortgage
Settlement dated June 30, 2020 with Montsaic Investments, LLC****

10.16

Mortgage
Settlement dated August 10, 2020 with 2490585 Ontario Inc.****

10.17

Mortgage
Settlement dated September 15, 2020 with 2490585 Ontario Inc.****

10.18

Mortgage
Settlement dated November 24, 2020 with 2490585 Ontario Inc.*****

10.19

Midcity
Capital Bridge Mortgage Be aware dated December 24, 2020. ******

10.20

Midcity
Capital Bridge Mortgage Be aware Extension settlement dated February 2, 2021. ******

10.21

Distribution
Settlement with Planet Sport Sarl dated August 24, 2020. +

10.22

Distribution
Settlement with Sporting Items Specialist Ltd dated August 25, 2020. +

10.23

Distribution
Settlement with Sports activities Warehouse Australia Pty Ltd dated September 2, 2020. +

10.24

Service
Settlement with Yonah Kalfa dated September 7, 2020. +^

10.25

Distribution
Settlement with Dunlop. ++

10.26

Dawson
Metropolis Trademark Project Settlement dated November 10, 2020. +++

10.27

Slinger
Bag World Share Incentive Plan (2020). +++^

10.28

Service
Settlement with Mike Ballardie dated November 1, 2020. ++++^

10.29

2,000,000
Secured Time period Promissory Be aware dated April 15, 2021. +++++

10.30

Enterprise
Mortgage and Safety Settlement dated April 15, 2021. +++++

10.31

Mental
Property Safety Settlement dated April 15, 2021. +++++

10.32

Inventory
Pledge Settlement dated April 15, 2021. +++++

10.33

Intercreditor
Settlement dated April 15, 2021. +++++

10.34

Warrant
Buy Settlement dated April 15, 2021. +++++

10.35

SB
Invesco Warrant dated April 15, 2021. +++++

10.36

Chessler
Holdings Warrant dated April 15, 2021. +++++

10.37

Membership
Curiosity Buy Settlement dated June 21, 2021. ++++++

10.38

Charles
Ruddy Service Settlement dated June 21, 2021.++++++^

10.39

Jaana
Gilbert Service Settlement dated June 21, 2021. ++++++

10.40

George
Kustas Consulting Settlement dated June 21, 2021. ++++++

31.1

Certification
of Principal Govt Officer and Principal Monetary Officer Pursuant to Rule 13a-14(a) and15d-14(a).

31.2

Certification
of Principal Monetary Officer Pursuant to Rule 13a-14(a) and15d-14(a).

32.1

Certification
of Principal Govt Officer and Pursuant to 18 U.S.C. 1350.

32.2

Certification
of Principal Monetary Officer Pursuant to 18 U.S.C. 1350.

101.INS

XBRL
Occasion Doc

101.SCH

XBRL
Taxonomy Extension Schema Doc

101.CAL

XBRL
Taxonomy Extension Calculation Linkbase Doc

101.LAB

XBRL
Taxonomy Extension Label Linkbase Doc

101.PRE

XBRL
Taxonomy Extension Presentation Linkbase Doc

101.DEF

XBRL
Taxonomy Extension Definition Linkbase Definition

*
Integrated by reference to the Registrant’s
Type S-1 (File No. 333-214463), filed with the Fee on November 7, 2016.
**
Integrated by reference to the Firm’s Quarterly
Report on Type 10-Q filed on March 22, 2020
***
Integrated by reference to the Firm’s Present
Report on Type 8-Okay filed on April 1, 2020
****
Integrated by reference to the Firm’s
Quarterly Report on Type 10-Q filed on September 21, 2020
*****
Integrated by reference to the Firm’s
Quarterly Report on Type 10-Q filed on December 14, 2020
******
Integrated
by reference to the Firm’s Quarterly Report on Type 10-Q filed on March 22, 2021
+
Integrated by reference to the Firm’s
Present Report on Type 8-Okay filed on September 9, 2020
++
Integrated by reference to the Firm’s
Present Report on Type 8-Okay/A filed on September 29, 2020
+++
Integrated by reference to the Firm’s
Present Report on Type 8-Okay/A filed on November 30, 2020
++++
Integrated by reference to the Firm’s
Present Report on Type 8-Okay/A filed on January 20, 2021
+++++
Integrated by reference to the Firm’s
Present Report on Type 8-Okay/A filed on April 21, 2021
++++++
Integrated by reference to the Firm’s
Present Report on Type 8-Okay/A filed on June 23, 2021
^
Administration contract or compensatory plan or association.

SIGNATURES

Pursuant
to the necessities of Part 13 or 15(d) of the Securities Change Act of 1934, the registrant duly induced this report back to be
signed on its behalf by the undersigned thereunto duly licensed.

SLINGER
BAG INC.
Dated:
August 6, 2021
By:
/s/
Mike Ballardie

Mike
Ballardie

Director,
President and Chief Govt Officer (Principal
Govt Officer)

Dated:
August 6, 2021
By:
/s/
Paul McKeown

Paul
McKeown

Chief
Monetary Officer
(Principal
Monetary Officer)

Pursuant
to the necessities of the Securities Change Act of 1934, this report has been signed under by the next individuals on behalf of the
registrant and within the capacities and on the dates indicated.

Exhibit 31.1

CERTIFICATION

Pursuant to Rule 13a-14(a) and 15d-14(a)

Underneath the Securities Change Act of 1934, as Amended

I, Mike Ballardie, certify that:

1. I’ve reviewed this Annual Report on Type 10-Okay
of Slinger Bag Inc.;

2. Based mostly on my data, this report doesn’t include
any unfaithful assertion of a fabric reality or omit to state a fabric reality essential to make the statements made, in gentle of the circumstances
underneath which such statements have been made, not deceptive with respect to the interval coated by this report;

3. Based mostly on my data, the monetary statements,
and different monetary data included on this report, pretty current in all materials respects the monetary situation, outcomes of operations
and money flows of the registrant as of, and for, the interval offered on this report;

4. The registrant’s different certifying officers
and I are accountable for establishing and sustaining disclosure controls and procedures (as outlined in Change Act Guidelines 13a-15(e)
and 15d-15(e)) and inside management over monetary reporting (as outlined in Change Act Guidelines 13a-15(f) and 15d-15(f)) for the registrant
and have:

a) Designed such disclosure controls and procedures,
or induced such disclosure controls and procedures to be designed underneath our supervision, to make sure that materials data regarding
the registrant, together with its consolidated subsidiaries, is made recognized to us by others inside these entities, notably throughout the
interval by which this report is being ready;

b) Designed such inside management over monetary reporting,
or induced such inside management over monetary reporting to be designed underneath our supervision, to supply affordable assurance relating to
the reliability of economic reporting and the preparation of economic statements for exterior functions in accordance with typically
accepted accounting rules;

c) Evaluated the effectiveness of the registrant’s
disclosure controls and procedures and offered on this report our conclusions in regards to the effectiveness of the disclosure controls and
procedures, as of the tip of the interval coated by this report primarily based on such analysis; and

d) Disclosed on this report any change within the registrant’s
inside management over monetary reporting that occurred throughout the registrant’s most up-to-date fiscal quarter (the registrant’s
fourth fiscal quarter within the case of an annual report) that has materially affected, or within reason prone to materially have an effect on, the
registrant’s inside management over monetary reporting.

5. The registrant’s different certifying officers
and I’ve disclosed, primarily based on our most up-to-date analysis of inside controls over monetary reporting, to the registrant’s auditors
and the audit committee of registrant’s board of administrators (or individuals performing the equal features):

a) All vital deficiencies and materials weaknesses
within the design or operation of inside controls over monetary reporting that are fairly prone to adversely have an effect on the registrant’s
skill to document, course of, summarize and report monetary data; and

b) Any fraud, whether or not or not materials, that includes
administration or different workers who’ve a big position within the registrant’s inside management over monetary reporting.

Date: August 6,
2021

/s/ Mike Ballardie
Mike Ballardie
President and Chief Govt Officer

Exhibit 31.2

CERTIFICATION

Pursuant to Rule 13a-14(a) and 15d-14(a)

Underneath the Securities Change Act of 1934, as Amended

I, Paul McKeown, certify that:

1. I’ve reviewed this Annual Report on Type 10-Okay
of Slinger Bag Inc.;

b) Any fraud, whether or not or not materials, that includes
administration or different workers who’ve a big position within the registrant’s inside management over monetary reporting.

Date: August 6,
2021

/s/ Paul McKeown
Paul McKeown
Chief Monetary Officer

Exhibit 32.1

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In reference to the Annual Report (the “Report”)
of Slinger Bag Inc. (the “Firm”) on Type 10-Okay for the 12 months ended April 30, 2021 as filed with the Securities and
Change Fee on the date hereof, I, Mike Ballardie, President and Chief Govt Officer of the Firm, certify, pursuant to
18 U.S.C. 1350, as adopted pursuant to Part 906 of the Sarbanes-Oxley Act of 2002, that to my data:

1.
The Report totally complies with the necessities of Part 13(a) or 15(d) of the Securities Change Act of 1934; and
2.
The data contained within the Report pretty presents, in all materials respects, the monetary situation and outcomes of operations of the Firm.

Date: August 6, 2021

By:
/s/ Mike Ballardie

Mike Ballardie

President and Chief Govt Officer

(Principal Govt Officer)

Exhibit 32.2

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In reference to the Annual Report (the “Report”)
of Slinger Bag Inc. (the “Firm”) on Type 10-Okay for the 12 months ended April 30, 2021 as filed with the Securities and
Change Fee on the date hereof, I, Paul McKeown, Chief Monetary Officer of the Firm, certify, pursuant to 18 U.S.C. 1350,
as adopted pursuant to Part 906 of the Sarbanes-Oxley Act of 2002, that to my data:

Date: August 6, 2021

By:
/s/ Paul McKeown

Paul McKeown

Chief Monetary Officer

(Principal Monetary Officer)

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