131-05 40 ROAD

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l statements, and accordingly, we do not express an opinion or provide any assurance on that information. Management has not promulgated a study on future major repairs and replacements that accounting principles generally accepted in the United States of America require to be presented to supplement the basic financial statements. Such missing information, although not a part of the basic financial statements, is re quired by the Financial Accounting Standards Board, who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. Our opinion on the basic financial statements is not affected by the missing information. Responsibilities of Management for the Financial Statements Management is responsible for the preparation and fair presentation of the financial statements in accordance with GAAP, and for the design, implementation, and maintenance of internal control relev

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Current Assets 2022 2021 Cash - operating account $127,229 $142,364 Cash - reserve fund 405,675 310,853 Common charges receivable - unit owners 58,151 55,731 Receivable - other 45,031 45,181 Due from affiliates 58,058 0 Due from homeowners' association 28,157 3,673 Prepaid expenses 27,183 19,711 Total Current Assets 749,484 577,513 Fixed Assets Resident manager unit 697,964 697,964 Furniture 17,001 17,001 Less: Accumulated depreciation (139,021) (111,217) Net Fixed Assets 575,944 603,748 Other Asset Utilities deposit 95,945 193,235 Total Assets $1,421,373 $1,374,496 Grand One at Sky View Parc Balance Sheets May 31, (A Condominium Association) ASSETS See Notes to Financial Statements Page 4 of 15

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al of these categories, as shown in the statements of cash flows, is as follows: May 31, 2022 2021 Cash - operating account $127,229 $142,364 Cash - reserve fund 405,675 310,853 Total cash and cash equivalents $532,904 $453,217 (K) Capital Assessment Revenue Recognition In accordance with accounting standards, ASC 606, the Condominium recognizes revenue from assessments and contracts over time, as the related performance obligations have been met. Note 2 - Cash Concentration The Condominium maintains accounts with various banks. At times, these accounts may be in excess of FDIC insurance limits. Page 10 of 15

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Grand One at Sky View Parc (A Condominium Association) Notes to Financial Statements May 31, 2022 and 2021 Note 3 -Reserve Fund At each closing, unit owners contribute funds equivalent to approximately two months of common charges plus, for initial sales, amounts for the purchase of the resident manager unit, as per the offering plan. The Condominium owes the Sponsor a balance of $28,728 as of May 31, 2022 for the purchase of the resident manager unit, which will be paid as contributions are collected. The Condominium maintains an interest-bearing reserve fund to fund costs as determined by the residential board of managers. The reserve fund is predominately funded through the unit owners’ mandatory contribution due upon the purchase of their units. At May 31, 2022, the reserve fund balance was $405,675. Note 4 -Condominium Taxes Condominium associations may be taxed either as homeowners’ associations or as cooperative housing associations. For the years ended May 31, 2022 and

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2022 2021 Other income Utility reimbursement income $186,497 $178,021 Transfer fees 21,847 0 Late fees 3,665 12,423 Misc. income 2,072 0 $214,081 $190,444 Payroll and related Payroll $294,414 $294,720 Payroll taxes 22,930 21,334 Union benefits 115,764 112,083 Workers' compensation insurance 12,074 12,304 $445,182 $440,441 Gas and electric Gas $191,381 $163,262 Electric 377,908 368,742 $569,289 $532,004 Repairs, supplies and maintenance Elevator $23,249 $24,053 Heating 6,795 12,896 Sprinkler and fire alarm system 19,997 13,955 Air conditioning 68,834 67,866 Supplies 10,104 9,855 Plumbing 6,182 8,614 Electrical repairs 2,276 1,737 Exterminating 1,783 3,141 Painting 4,062 4,447 Appliance 3,782 4,235 Miscellaneous 54,391 36,848 $201,455 $187,647 Professional fees Accounting $10,050 $10,225 Legal fees 1,490 2,566 $11,540 $12,791 Grand One at Sky View Parc (A Condominium Association) Supplemental Information For the Years Ended May 31, See Independent Auditor's Report Page 13 of 15

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-5% Insurance Expense 214,763 234,269 19,506 8% Ground Rent Expense - - - 0% Total Expenses 2,811,936 2,756,874 (55,062) -2% Net Operating Income 1,000 29,234 (28,234) -97% CAPEX Residential Capex 1,000 27,452 26,452 96% Total Capex 1,000 27,452 26,452 96% Net CF After Capex (0) 1,782 (1,782) -100%

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l statements, and accordingly, we do not express an opinion or provide any assurance on that information. Management has not promulgated a study on future major repairs and replacements that accounting principles generally accepted in the United States of America require to be presented to supplement the basic financial statements. Such missing information, although not a part of the basic financial statements, is re quired by the Financial Accounting Standards Board, who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. Our opinion on the basic financial statements is not affected by the missing information. Responsibilities of Management for the Financial Statements Management is responsible for the preparation and fair presentation of the financial statements in accordance with GAAP, and for the design, implementation, and maintenance of internal control relev

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ASSETS Current Assets 2022 2021 Cash - operating account $319,105 $232,774 Cash - reserve fund 376,715 273,077 Common charges receivable 48,082 40,999 Due from homeowners' association 34,702 6,166 Due from affiliate 0 13,169 Receivable - other 13,128 11,506 Prepaid expenses 32,386 30,282 Total Current Assets 824,118 607,973 Fixed Assets Resident manager unit 855,293 855,293 Less: Accumulated depreciation (137,375) (106,271) Net Fixed Assets 717,918 749,022 Other Asset Utilities deposit 0 12,340 Total Assets $1,542,036 $1,369,335 Grand Two at Sky View Parc Balance Sheets May 31, (A Condominium Association) See Notes to Financial Statements Page 4 of 15

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the total of these categories, as shown in the statements of cash flows, is as follows: 2022 2021 Cash - operating account $319,105 $232,774 Cash - reserve fund 376,715 273,077 Total cash, cash equivalentsand restricted cash $695,820 $505,851 (K) Capital Assessment Revenue Recognition In accordance with accounting standards, ASC 606, the Condominium recognizes revenue from assessments and contracts over time, as the related performance obligations have been met. Note 2 - Cash Concentration The Condominium maintains accounts with Bank of America. At times, these accounts may be in excess of FDIC insurance limits. Note 3 - Reserve Fund At each closing, unit owners contribute funds equivalent to approximately two months of common charges plus, for initial sales, amounts for the purchase of the resident manager unit, as per the offering plan. The Condominium owes the sponsor a balance of $57,068 as of May 31, 2022 for the purchase of the resident manager unit, which will be pai

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es or receivables on the balance sheet. The amounts due or owed between the members are interest-free obligations which are due on demand. Note 7 -Future Major Repairs and Replacements The Condominium's governing documents do not require the accumulation of funds to finance estimated future repairs and replacements. The Condominium has not conducted a study to estimate the remaining useful lives and replacement costs of the components of the common property. When funds are required for major repairs and replacements, the Condominium plans to use the reserve fund, borrow, increase common charges, or delay repairs and replacements until funds are available. Page 11 of 15

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Sponsor’s counsel shall be paid by Purchaser in advance, prior to closing, upon notice to Purchaser. 9.5 Purchaser shall make a contribution to the Working Capital Fund of the Condominium, payable to the Board, in an amount equal to two (2) months’ Common Charges then in effect for each Unit pursuant to the Condominium budget and in accordance with Schedule A in the Plan, as the same may be amended from time to time. 9.6 Purchaser shall pay to the Board the Common Charges for the Unit for the first full month following the month in which title closes. In addition, if Purchaser is a foreign government, a resident representative of a foreign government or such other person or entity otherwise entitled to the immunities from suit enjoyed by a foreign government (i.e., diplomatic or sovereign immunity) shall pay to the Board an amount equal to the Common Charges for such Unit for a period of two (2) years as security for the faithful observance by Purchaser of the terms, provisi