Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. Except as required by applicable law including the securities laws of the United States, we do not intend to update any of the forward-looking statements to conform these statements to actual results.

Unless expressly indicated or the context requires otherwise, the terms "Cryomass Technologies," the "Company," "we," "us," and "our" refer to Cryomass Technologies Inc., a Nevada corporation, and, where appropriate, its wholly owned subsidiaries.

The Company's principal office is located at 1001 Bannock St., Suite 612, Denver, CO 80204, and our telephone number is 303-416-7208. The Company's website is www.cryomass.com.

The Company over its history has explored a number of different business opportunities.

In September 2021, we were granted an additional patent for our process from the Chinese Intellectual Property Office. We currently are taking steps to gain further protection for our intellectual property through the European Union Intellectual Property Office and several other international jurisdictions.

Results of Operations for the Three Months Ended June 30, 2022 and 2021

Net loss from continuing operations $ (1,430,418 ) $ (3,008,325 ) $ 1,551,611

Our operating results for the three months ended June 30, 2022 and 2021, relating to our former variable interest entity, CMI, are classified as discontinued operations above and summarized as follows:

Net Sales and Cost of Goods Sold

? General and administrative expenses - $1,740,905 decrease

? Legal and professional fees - $456,168 increase

CMI had no other expense for the three months ending June 30, 2022. CMI's other expense during the three months ending June 30, 2021 consisted of $20,539 interest expense, which primarily relates to the related party note.

Results of Operations for the Six Months Ended June 30, 2022 and 2021

Net Sales and Cost of Goods Sold

Operating expenses encompass personnel costs, general and administrative expenses, and legal and professional fees. Total operating expenses were $3,544,034 for the six months ended June 30, 2022 as compared to $3,633,149 for the six months ended June 30, 2021. The decrease of $89,115, or 2%, was primarily attributable to the following:

? General and administrative expenses - $1,842,026 decrease

? Legal and professional fees - $1,688,905 increase

Liquidity, Capital Resources and Cash Flows

Management believes it has sufficient cash available to support an anticipated level of operations for at least 12 months following the date of this report.

The following table summarizes total current assets, liabilities and working capital for the periods indicated:

As of June 30, 2022 and December 31, 2021, we had a cash balance of $2,188,032 and $5,772,839, respectively.

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