Appsoft Technologies Q1 2024 10-Q Filed

TL;DR

**Appsoft Q1 10-Q is IN. Minimal activity reported, historical data referenced.**

AI Summary

Appsoft Technologies, Inc. filed its 10-Q for the period ending March 31, 2024. The company reported minimal financial activity for the first quarter of 2024, with values such as $0.0001 for certain metrics. The filing also references historical financial data from previous years, including 2018, 2019, 2020, 2021, 2022, and 2023.

Why It Matters

This filing provides a snapshot of Appsoft Technologies' financial status at the end of Q1 2024, which is crucial for investors to assess the company's performance and stability.

Risk Assessment

Risk Level: low — The filing indicates very low reported financial activity for the current period, suggesting limited operational changes or disclosures.

Key Numbers

• $0.0001 — Financial Metric (Represents a reported value for Q1 2024)
• $1000000000 — Maximum Value (Indicates a potential upper bound or scale for certain metrics)
• $10000000 — Minimum Value (Indicates a potential lower bound or scale for certain metrics)

Key Players & Entities

• Appsoft Technologies, Inc. (company) — Filer of the 10-Q
• 20240331 (date) — End of reporting period
• 0.0001 (dollar_amount) — Reported financial metric value
• 2018 (date) — Historical financial year referenced
• 2023 (date) — Historical financial year referenced

FAQ

Key Financial Figures

• $0.001 — ch registered common stock, par value $0.001 per share ASFT OTCQB Indicate by c
• $50,000 — Phone Apps with a fair market value of $50,000 for a total of $100,000. The shares of
• $100,000 — market value of $50,000 for a total of $100,000. The shares of "Preferred Stock" are co
• $0.005 — f common stock at a conversion price of $0.005 per share. The holder of the "Preferred
• $0.05 — qual to the Original Issue Price (i.e., $0.05 per share of Series A Preferred Stock),
• $0.0002 — o Common Stock from $0.005 per share to $0.0002 per share. The Company filed an amendme
• $405.643 — he total amount of the Notes Payable is $405.643 and bears interest at 2 % per year. Int
• $50,000 b — ote"). The original drawdown amount was $50,000 but has been increased to $ 150,000 in 20

Filing Documents

• asft_10q.htm (10-Q) — 337KB
• asft_ex311.htm (EX-31.1) — 10KB
• asft_ex312.htm (EX-31.2) — 10KB
• asft_ex321.htm (EX-32.1) — 3KB
• 0001477932-24-003191.txt ( ) — 1833KB
• asft-20240331.xsd (EX-101.SCH) — 22KB
• asft-20240331_lab.xml (EX-101.LAB) — 127KB
• asft-20240331_cal.xml (EX-101.CAL) — 22KB
• asft-20240331_pre.xml (EX-101.PRE) — 103KB
• asft-20240331_def.xml (EX-101.DEF) — 46KB
• asft_10q_htm.xml (XML) — 136KB

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS AppSoft Technologies, Inc. Balance Sheets March 31, 2024 December 31, 2023 (Unaudited) (Audited) CURRENT ASSETS Cash $ 107 $ 8 TOTAL CURRENT ASSETS 107 8 TOTAL ASSETS $ 107 $ 8 LIABILITIES CURRENT LIABILITIES Accounts Payable and Accruals 298 298 Accrued Interest 29,526 27,541 TOTAL CURRENT LIABILITIES 29,824 27,839 Note Payable 405,643 392,543 TOTAL LIABILITIES 435,467 420,382 COMMITMENTS AND CONTINGENCIES $ - $ - STOCKHOLDER'S EQUITY Series A Cumulative, Convertible Preferred stock ($ 0.0001 par value; 10,000,000 shares authorized; 1,936,000 and 1,936,000 shares issued and outstanding at March 31, 2024 and December 31, 2023, respectively) $ 193 $ 193 Common stock ($ 0.0001 par value; 1,000,000,000 shares authorized; 4,504,103 and 4,504,103 shares issued and outstanding at March 31, 2024 and December 31, 2023, respectively) 449 449 Additional Paid in Capital 533,858 533,858 Accumulated Deficit ( 969,860 ) ( 954,874 ) TOTAL STOCKHOLDER'S EQUITY (DEFICIT) ( 435,360 ) ( 420,374 ) TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY/(DEFICIT) $ 107 $ 8 The accompanying notes are an integral part of these financial statements. 2 AppSoft Technologies, Inc. For the Three Months Ended March 31, 2024 (Unaudited) 2023 (Unaudited) Sales $ - $ - Total Revenue $ - $ - EXPENSES: Selling, General and Administrative 2,252 1,409 Interest Expense 1,984 1,704 Outside Services - 975 Professional Fees 10,750 22,980 Total Expense 14,986 27,068 Loss from operations $ ( 14,986 ) $ ( 27,068 ) Other Income/Loss) Income on Extinguishment of Debt $ - $ 7,900 Provision for Income Taxes $ - $ - NET LOSS ( 14,986 ) ( 19,168 ) Weighted average common shares outstanding, basic and fully diluted 4,504,103 4,504,103 Basic and fully diluted net loss per co

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View this 10-Q filing on SEC EDGAR