APPlife Digital Solutions Inc. Files 2024 10-K

TL;DR

APPlife Digital Solutions Inc. filed its 2024 10-K. Full year financials are out.

AI Summary

APPlife Digital Solutions Inc. filed its 10-K for the fiscal year ending June 30, 2024, reporting its financial performance and business operations. The company, incorporated in Nevada and headquartered in San Francisco, CA, operates in the computer processing and data preparation sector. This filing provides a comprehensive overview of the company's financial health and strategic direction for the period.

Why It Matters

This 10-K filing provides investors and stakeholders with a detailed look into APPlife Digital Solutions Inc.'s financial standing and operational activities for the fiscal year ending June 30, 2024, crucial for investment decisions.

Risk Assessment

Risk Level: low — The provided text is a standard 10-K filing header and does not contain specific financial performance data or forward-looking statements that would indicate a high-risk level.

Key Numbers

• 2024-06-30 — Fiscal Year End (The end date of the reporting period for the 10-K.)
• 2024-10-09 — Filing Date (The date the 10-K was officially submitted to the SEC.)

Key Players & Entities

• APPlife Digital Solutions Inc. (company) — Filer of the 10-K
• 0001755101 (company) — Central Index Key for APPlife Digital Solutions Inc.
• 20240630 (date) — Fiscal year end date
• 20241009 (date) — Filing date
• San Francisco, CA (location) — Business and mailing address city and state
• 4154395260 (phone_number) — Business phone number

FAQ

Key Financial Figures

• $0.001 — ECTION 12(G) OF THE ACT: COMMON STOCK, $0.001 PAR VALUE PER SHARE (Title of class)
• $1,500,000 — t would need a minimum of approximately $1,500,000 over the next 12 months to continue as
• $750,000 — expenditures for them we will need: (1) $750,000 for marketing expenses, (2) $500,000 fo
• $500,000 — 1) $750,000 for marketing expenses, (2) $500,000 for general administration and overhead
• $180,000 — ministration and overhead expenses, (3) $180,000 for legal and accounting expenses, and
• $70,000 — legal and accounting expenses, and (3) $70,000 for developers and engineers and app an
• $79 — ns. The retail price for each report is $79, $399 and $1,299. The model is not curr
• $399 — he retail price for each report is $79, $399 and $1,299. The model is not currently
• $1,299 — price for each report is $79, $399 and $1,299. The model is not currently marketing f
• $0.99 — moting products on the app, user fee of $0.99 to send each drink and discounts provid
• $278 — ned future operations. We currently pay $278 per month for use of this virtual space
• $1299 — price for each report is $79, $399 and $1299. The partnership with the law firm is o

Filing Documents

• alds-20240630.htm (10-K) — 565KB
• alds_ex31z1.htm (EX-31.1) — 7KB
• alds_ex31z2.htm (EX-31.2) — 7KB
• alds_ex32z1.htm (EX-32.1) — 5KB
• alds10k_1.jpg (GRAPHIC) — 3KB
• 0001096906-24-001982.txt ( ) — 3389KB
• alds-20240630_cal.xml (EX-101.CAL) — 26KB
• alds-20240630_def.xml (EX-101.DEF) — 87KB
• alds-20240630_lab.xml (EX-101.LAB) — 199KB
• alds-20240630_pre.xml (EX-101.PRE) — 174KB
• alds-20240630.xsd (EX-101.SCH) — 46KB
• alds-20240630_htm.xml (XML) — 440KB

Business

ITEM 1. Business 4

Risk Factors

ITEM 1A. Risk Factors 6

Properties

ITEM 2. Properties 6

Legal Proceedings

ITEM 3. Legal Proceedings 7

Mine Safety Disclosure

ITEM 4. Mine Safety Disclosure 7 PART II 7

Market For Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

ITEM 5. Market For Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 7

Selected Financial Data

ITEM 6. Selected Financial Data 7

Management's Discussion and Analysis of Financial Condition and Results of Operations

ITEM 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 7

Quantitative and Qualitative Disclosures About Market Risk

ITEM 7A. Quantitative and Qualitative Disclosures About Market Risk 14

Financial Statements

ITEM 8. Financial Statements 14

Changes in and Disagreements With Accountants on Accounting and Financial Disclosure

ITEM 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 15 PART III 16

Directors, Executive Officers and Corporate Governance

ITEM 10. Directors, Executive Officers and Corporate Governance 16

Executive Compensation

ITEM 11. Executive Compensation 18

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

ITEM 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 18

Certain Relationships and Related Transactions, and Director Independence

ITEM 13. Certain Relationships and Related Transactions, and Director Independence 19

Principal Accountant Fees and Services

ITEM 14. Principal Accountant Fees and Services 19 PART IV 20

Exhibits, Financial Statement Schedules

ITEM 15. Exhibits, Financial Statement Schedules . 20

SIGNATURES

SIGNATURES 20 FORWARD LOOKING INFORMATION MAY PROVE INACCURATE THIS ANNUAL REPORT ON FORM 10-K CONTAINS CERTAIN FORWARD-LOOKING STATEMENTS AND INFORMATION RELATING TO US THAT ARE BASED ON THE BELIEFS OF MANAGEMENT, AS WELL AS ASSUMPTIONS MADE BY AND INFORMATION CURRENTLY AVAILABLE TO US. WHEN USED IN THIS DOCUMENT, THE WORDS "ANTICIPATE," "BELIEVE," "ESTIMATE," "SHOULD," "PLAN," AND "EXPECT" AND SIMILAR EXPRESSIONS, AS THEY RELATE TO US, ARE INTENDED TO IDENTIFY FORWARD-LOOKING STATEMENTS. SUCH STATEMENTS REFLECT OUR CURRENT VIEWS WITH RESPECT TO FUTURE EVENTS AND ARE SUBJECT TO CERTAIN RISKS, UNCERTAINTIES AND ASSUMPTIONS, INCLUDING THOSE DESCRIBED IN THIS ANNUAL REPORT ON FORM 10-K. SHOULD ONE OR MORE OF THESE RISKS OR UNCERTAINTIES MATERIALIZE, OR SHOULD UNDERLYING ASSUMPTIONS PROVE INCORRECT, ACTUAL RESULTS MAY VARY MATERIALLY FROM THOSE DESCRIBED HEREIN AS ANTICIPATED, BELIEVED, ESTIMATED, PLANNED OR EXPECTED. WE DO NOT INTEND TO UPDATE THESE FORWARD-LOOKING STATEMENTS. 3 PART I

Business

ITEM 1. Business Nature of Operations and Going Concern APPlife Digital Solutions, Inc. (the "Company") was formed March 5, 2018, in Nevada and has offices in San Francisco, California and Shanghai, China. Our office in San Francisco, California allows us to take advantage of the marketing opportunities available in the United States as well as keeping close proximity to sources of capital whether it is debt or equity. Our offices in Shanghai, China allows us to take advantage of a high concentration of skilled tech coders and developers at lower capital costs than in more developed countries such as the United States or Europe. The Company's mission is using digital technology to create APPs and websites that make life, business and living easier, more efficient and just smarter. We are a development stage company with a limited operating history, operations, and revenues and we will need to raise capital to implement our planned operations. If we are unable to do so, an entire investment in our stock could be lost. The Company anticipates that it would need a minimum of approximately $1,500,000 over the next 12 months to continue as a going concern and bring the Company's ecommerce and/or cloud-based businesses to market and generate revenue within that time frame. Specifically, in order for the Company to fully implement its plans to create apps and spend the necessary marketing expenditures for them we will need: (1) $750,000 for marketing expenses, (2) $500,000 for general administration and overhead expenses, (3) $180,000 for legal and accounting expenses, and (3) $70,000 for developers and engineers and app and server maintenance expenses. If we are not able to raise enough funds, we may be forced to look for capital through debt or equity, which would dilute our common stockholders. Products As of the period from inception, through today's date, we have generated limited revenue and incurred expenses and operating losses, as part of our development

Risk Factors

ITEM 1A. Risk Factors We are a smaller reporting company as defined by Rule 12b-2 of the Securities Exchange Act of 1934 and are not required to provide the information under this item.

Properties

ITEM 2. Properties We do not own any property, nor do we have any contracts or options to acquire any property in the future. Presently, we are operating out of a virtual office. This space is adequate for our present and our planned future operations. We currently pay $278 per month for use of this virtual space. We have no current plans to occupy other or additional office space. 6

Legal Proceedings

ITEM 3. Legal Proceedings We know of no material, existing or pending legal proceedings against our company, nor are we involved as a plaintiff in any material proceeding or pending litigation. There are no proceedings in which our director, officer or any affiliates, or any registered or beneficial shareholder, is an adverse party or has a material interest adverse to our interest.

Mine Safety Disclosure

ITEM 4. Mine Safety Disclosure Not Applicable. PART II

Market For Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

ITEM 5. Market For Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities Market Information Prices for our common stock are quoted on OTC Markets under the symbol "ALDS." There were 160,893,635 shares of our common stock outstanding as of October 9, 2024. Security Holders As of October 9, 2024, there were approximately fifty-nine (59) record holders of our common stock. Dividends We have not paid dividends during the three most recently completed fiscal years and have no current plans to pay dividends on our common stock. We currently intend to retain all earnings, if any, for use in our business. Recent Sales and Other Issuances of Our Equity Securities None.

Selected Financial Data

ITEM 6. Selected Financial Data Not Applicable.

Management's Discussion and Analysis of Financial Condition and Results of Operations

ITEM 7. Management's Discussion and Analysis of Financial Condition and Results of Operations The following discussion of our plan of operation should be read in conjunction with the financial statements and related notes that appear elsewhere in this prospectus. This discussion contains forward-looking statements that involve risks and uncertainties. Our actual results could differ materially from those anticipated in these forward-looking statements as a result of various factors, including those discussed in "Risk Factors" beginning on page 18 of this prospectus. All forward-looking statements speak only as of the date on which they are made. We undertake no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they are made. Overview APPlife Digital Solutions, Inc. (the "Company") was formed March 5, 2018, in Nevada and has offices in San Francisco, California and Shanghai, China. Our office in San Francisco, California allows us to take advantage of the marketing opportunities available in the United States as well as keeping close proximity to sources of capital whether it is debt or equity. Our offices in Shanghai, China allows us to take advantage of a high concentration of skilled tech coders and developers at lower capital costs than in more developed countries such as the United States or Europe. The 7 Company's mission is using digital technology to create and invest in eCommerce and Cloud based businesses that make life, business and living easier, more efficient, and just smarter. Plan of Operation Our marketing and business management/executive team operates from both Shanghai China, New York, and in San Francisco. Matt Reid is technically the only employee of the Company, and he resides in Shanghai, China, Matt Reid manages the independent contractor teams of developers the Company hires. We have engaged an attorney in Shanghai engaged to help us with the contracts and negot

View Full Filing

View this 10-K filing on SEC EDGAR