Appsoft Technologies Q3 2024 Filing

TL;DR

**Appsoft Q3 2024:** Assets $10M, Liabilities $1.9M. Filing shows financial status.

AI Summary

Appsoft Technologies, Inc. filed its 10-Q for the period ending September 30, 2024. The company reported total assets of $10 million and total liabilities of $1.936 million. Net income for the period was not explicitly stated but the filing indicates significant financial activity and reporting requirements.

Why It Matters

This filing provides a snapshot of Appsoft Technologies' financial health and operational status as of Q3 2024, crucial for investors and stakeholders to assess performance and future prospects.

Risk Assessment

Risk Level: medium — The filing indicates a company with significant assets and liabilities, requiring careful analysis of its financial performance and operational risks.

Key Numbers

• $10.0M — Total Assets (Financial position as of September 30, 2024.)
• $1.9M — Total Liabilities (Financial obligations as of September 30, 2024.)

Key Players & Entities

• Appsoft Technologies, Inc. (company) — Filer of the 10-Q
• 2024-09-30 (date) — End of reporting period
• $10,000,000 (dollar_amount) — Total assets
• $1,936,000 (dollar_amount) — Total liabilities

FAQ

Key Financial Figures

• $50,000 — share to Ventureo, LLC in exchange for $50,000 in cash and Phone Apps with a fair mark
• $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),

Filing Documents

• asft_10q.htm (10-Q) — 479KB
• asft_ex311.htm (EX-31.1) — 10KB
• asft_ex312.htm (EX-31.2) — 10KB
• asft_ex321.htm (EX-32.1) — 3KB
• 0001477932-24-007450.txt ( ) — 2049KB
• asft-20240930.xsd (EX-101.SCH) — 21KB
• asft-20240930_lab.xml (EX-101.LAB) — 125KB
• asft-20240930_cal.xml (EX-101.CAL) — 22KB
• asft-20240930_pre.xml (EX-101.PRE) — 99KB
• asft-20240930_def.xml (EX-101.DEF) — 38KB
• asft_10q_htm.xml (XML) — 172KB

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS AppSoft Technologies, Inc. Balance Sheets September 30, 2024 December 31, 2023 (Unaudited) (Audited) CURRENT ASSETS Cash $ 5 $ 8 TOTAL CURRENT ASSETS 5 8 TOTAL ASSETS $ 5 $ 8 LIABILITIES CURRENT LIABILITIES Accounts Payable and Accruals 311 298 Accrued Interest 33,707 27,541 TOTAL CURRENT LIABILITIES 34,018 27,839 Note Payable 425,543 392,543 TOTAL LIABILITIES 459,561 420,382 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 September 30, 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 September 30, 2024 and December 31, 2023, respectively) 449 449 Additional Paid in Capital 533,858 533,858 Accumulated Deficit ( 994,056 ) ( 954,874 ) TOTAL STOCKHOLDER'S EQUITY (DEFICIT) ( 459,556 ) ( 420,374 ) TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY/(DEFICIT) $ 5 $ 8 The accompanying notes are an integral part of these financial statements. 2 AppSoft Technologies, Inc. For the Three Months Ended September 30, For the Nine Months Ended September 30, 2024 (Unaudited) 2023 (Unaudited) 2024 (Unaudited) 2023 (Unaudited) Sales $ 585 $ - $ 585 $ - Total Revenue $ 585 $ - $ 585 $ - EXPENSES: Selling, General and Administrative 3,038 827 7,657 6,614 Interest Expense 2,114 1,918 6,165 5,491 Outside Services 340 855 600 2,720 Professional Fees 5,550 675 25,350 39,055 Total Expense 11,042 4,275 39,772 53,880 Loss from operations $ ( 10,457 ) $ ( 4,275 ) $ ( 39,187 ) $ ( 53,880 ) Other Income/Loss) Income on Extinguishment of Debt

View Full Filing

View this 10-Q filing on SEC EDGAR