Hawkeye Systems, Inc.

Previous wording

The following discussion relates to the historical operations and financial statements of Hawkeye Systems, Inc. for the three months and nine month ended March 31, 2025.

Current wording

The following discussion relates to the historical operations and financial statements of Hawkeye Systems, Inc. for the three months ended September 30, 2025.

Previous wording

The following Management’s Discussion and Analysis should be read in conjunction with our financial statements and the related notes thereto included elsewhere in this quarterly report. The Management’s Discussion and Analysis contains forward-looking statements that involve risks and uncertainties, such as statements of our plans, objectives, expectations and intentions. Any statements that are not statements of historical fact are forward-looking statements. When used, the words “believe,” “plan,” “intend,” “anticipate,” “target,” “estimate,” “expect,” and the like, and/or future-tense or conditional constructions (“will,” “may,” “could,” “should,” etc.), or similar expressions, identify certain of these forward-looking statements. These forward-looking statements are subject to risks and uncertainties that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements in this quarterly report. Our actual results and the timing of events could differ materially from those anticipated in these forward-looking statements. Factors that could cause or contribute to such differences in results and outcomes include, without limitation, those specifically addressed under the heading “Risks Factors” in our various filings with the Securities and Exchange Commission. We do not undertake any obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this quarterly report.

Current wording

The following Management’s Discussion and Analysis should be read in conjunction with our financial statements and the related notes thereto included elsewhere in this quarterly report. The Management’s Discussion and Analysis contain forward-looking statements that involve risks and uncertainties, such as statements of our plans, objectives, expectations and intentions. Any statements that are not statements of historical fact are forward-looking statements. When used, the words “believe,” “plan,” “intend,” “anticipate,” “target,” “estimate,” “expect,” and the like, and/or future-tense or conditional constructions (“will,” “may,” “could,” “should,” etc.), or similar expressions, identify certain of these forward-looking statements. These forward-looking statements are subject to risks and uncertainties that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements in this quarterly report. Our actual results and the timing of events could differ materially from those anticipated in these forward-looking statements. Factors that could cause or contribute to such differences in results and outcomes include, without limitation, those specifically addressed under the heading “Risks Factors” in our various filings with the Securities and Exchange Commission. We do not undertake any obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this quarterly report.

Previous wording

The Company is currently looking for investment opportunities into target businesses in diversified industries, such cybersecurity.

Current wording

The Company is currently looking for investment opportunities into target businesses in diversified industries, such cybersecurity through its participation as a 25% member of Rift.

Previous wording

We had no operating revenues, and the cost of sales, for the three and nine months, ended March 31, 2025, and 2024. Total operating expenses in the three months ended March 31, 2025, were $40,082 compared to $40,224 for the same period in 2024. The total operating expenses in the nine months ended March 31, 20254 were $160,334 compared to the nine months ended in 2024 was $340,535. The decrease in operating expenses is primarily a result of a decrease in professional fees - related party, management compensation, and general and administrative expenses.

Current wording

We had no operating revenues, and the cost of sales for the three ended September 30, 2025, and 2024. Total operating expenses in the three months ended September 30, 2025, were $33,507 compared to $95,546 for the same period in 2024. The decrease in operating expenses is primarily a result of a decrease in professional fees - related party, management compensation, and general and administrative expenses.

Previous wording

The Company’s net loss was $102,987 for the three months, and $347,383 for the nine months ended March 31, 2025, compared to $99,470 for the three months, and $486,970 for the nine months ended March 31, 2024, respectively. The net losses for these periods are primarily a result of operating expenses, and interest expenses.

Current wording

The Company’s net loss was $101,533 for the three months ended September 30, 2025, compared to $156,720 for the three months ended September 30, 2024, respectively. The net losses for these periods are primarily a result of operating expenses, and interest expenses.

Previous wording

Our cash balance at March 31, 2025 was $24,994 compared to $58 at March 31, 2024. We do not believe these cash reserves are sufficient to cover our expenses for our operations for the next 12 months. We will require additional funding for our ongoing operations.

Current wording

Our cash balance at September 30, 2025 was $318 compared to $7 at September 30, 2024. We do not believe these cash reserves are sufficient to cover our expenses for our operations for the next 12 months. We will require additional funding for our ongoing operations.

Previous wording

During our fiscal quarter ended March 31, 2025, and 2024, we received $43,008, and $1,708,000, respectively, from a promissory note issued by a related party.

Current wording

During our fiscal quarter ended September 30, 2025, and 2024, we received $69,427, and $55,600, respectively, from a promissory note issued by a related party.

Previous wording

On April 1, 2025, the Company, Christian Schjolberg, and Peter Herzog, filed articles of organization with the Secretary of State of the State of Nevada to form a member managed limited liability company called Rift Cyber LLC (“Rift”). In connection with the formation of Rift, Jö & Fyse UG, and Peter Herzog executed an intellectual property assignment agreement (the “IP Assignment”), whereby they assigned to Rift, all of the intellectual property rights in and to the core technology, RF environment mapping methodology, authentication framework, data collection and aggregation mechanism, applications and use cases, and prototype implementations and source code of Rift Tech. Rift will be focused on developing technologies that operate at the intersection of physical and digital security. This move marks a strategic realignment of our resources into the cyber security space.

Current wording

On April 1, 2025, the Company, Christian Schjolberg, and Peter Herzog, filed articles of organization with the Secretary of State of the State of Nevada to form a member managed limited liability company called Rift Cyber LLC (“Rift”). In connection with the formation of Rift, Jö & Fyse UG (an entity controlled by Christian Schjolberg), and Peter Herzog executed an intellectual property assignment agreement (the “IP Assignment”), whereby they assigned to Rift, all of the intellectual property rights in and to the core technology, RF environment mapping methodology, authentication framework, data collection and aggregation mechanism, applications and use cases, and prototype implementations and source code of Rift Tech. Rift will be focused on developing technologies that operate at the intersection of physical and digital security. This move marks a strategic realignment of our resources into the cyber security space.

Previous wording

In addition, we intend to raise funds through the sale of equity and debt securities.

Current wording

We are a smaller reporting company and have accumulated losses to date. Under a limited operations scenario to maintain our corporate existence, we believe we will require approximately $70,000 per quarter in order to keep the Company current with our reporting and filing obligations with the SEC.** ** We intend to raise funds through the sale of equity and debt securities. In addition, the following actions will be performed by the management for the next 12 months:

Previous wording

There are no assurances that we will be able to obtain further funds required for our continued operations. Even if additional financing is available, it may not be available on terms we find favorable. Failure to secure the additional financing needed will have an adverse effect on our ability to remain in business.

Current wording

There are no assurances that we will be able to obtain further funds required for our continued operations, nor raise the money or recruit the proper talent to build out the market and develop sales and marketing strategy for the coming year. In addition, even if additional financing is available, it may not be available on terms we find favorable. Failure to secure the additional financing needed will have an adverse effect on our ability to remain in business.

Previous wording

As reflected in the accompanying financial statements, the Company had an accumulated deficit of approximately $13,034,586 at March 31, 2025, and net loss from operations of $347,383 for the nine months ended March 31, 2025.

Current wording

As reflected in the accompanying financial statements, the Company had an accumulated deficit of approximately $13,312,064 at September 30, 2025, and net loss from operations of $101,533 for the three months ended September 30, 2025.