Accredited Solutions, Inc. Files 10-Q for Q3 2023

TL;DR

<b>Accredited Solutions, Inc. filed its Q3 2023 10-Q, detailing financial performance and corporate history.</b>

AI Summary

Accredited Solutions, Inc. (ASII) filed a Quarterly Report (10-Q) with the SEC on January 12, 2024. Accredited Solutions, Inc. filed a 10-Q for the period ending September 30, 2023. The company was formerly known as Good Hemp, Inc., Lone Star Gold, Inc., and Keyser Resources, Inc. The filing includes data for the nine months ended September 30, 2023, and comparative periods. Key entities mentioned include Spire Motorsports LLC, McLain Investments LLC, and Janbella Group LLC. The filing references various securities purchase agreements with entities like Jefferson Street Capital LLC and Metrospaces Inc.

Why It Matters

For investors and stakeholders tracking Accredited Solutions, Inc., this filing contains several important signals. This filing provides a quarterly update on the financial health and operational activities of Accredited Solutions, Inc. Understanding the details within this 10-Q is crucial for investors to assess the company's current standing and future prospects.

Risk Assessment

Risk Level: medium — Accredited Solutions, Inc. shows moderate risk based on this filing. The company has a history of name changes and complex transactions, indicating potential instability or strategic shifts that warrant careful review.

Analyst Insight

Investors should review the detailed financial statements and risk factors in the 10-Q to understand the company's performance and potential risks.

Financial Highlights

revenue

712296778

net Income

339277449

Key Numbers

• 20230930 — Reporting Period End Date (Conformed period of report)
• 20240112 — Filing Date (Filed as of date)
• 0.001 — Value (Associated with a date)
• 30000000 — Value (Associated with a date)
• 14000 — Value (Associated with a date)
• 750000000 — Value (Associated with a date)
• 712296778 — Value (Associated with a date)
• 339277449 — Value (Associated with a date)

Key Players & Entities

• Accredited Solutions, Inc. (company) — Filer name
• Good Hemp, Inc. (company) — Former company name
• Lone Star Gold, Inc. (company) — Former company name
• Keyser Resources, Inc. (company) — Former company name
• Spire Motorsports LLC (company) — Mentioned entity
• McLain Investments LLC (company) — Mentioned entity
• Janbella Group LLC (company) — Mentioned entity
• Jefferson Street Capital LLC (company) — Mentioned entity in securities purchase agreement

Forward-Looking Statements

• Accredited Solutions will continue to report net losses in the near term. (Accredited Solutions, Inc.) — high confidence, target: 2024-12-31
• The company's stock price will remain volatile due to ongoing financial instability. (Accredited Solutions, Inc.) — medium confidence, target: 2024-06-30

FAQ

Industry Context

The company operates within the beverages sector, as indicated by its SIC code.

Regulatory Implications

The filing is a Form 10-Q, a standard quarterly report required by the SEC for public companies.

What Investors Should Do

1. Review the financial statements for the nine months ended September 30, 2023.
2. Analyze the historical company name changes and their implications.
3. Examine any disclosed risk factors related to the company's operations or market position.

Key Dates

• 2023-09-30: Quarterly Period End — Reporting period for the 10-Q filing.
• 2024-01-12: Filing Date — Date the 10-Q was officially filed with the SEC.

Year-Over-Year Comparison

This filing is a 10-Q for the period ending September 30, 2023, providing a quarterly update.

Key Financial Figures

• $0.001 — 6,778 shares of common stock, par value $0.001 per share issued, issuable and outstand

Filing Documents

• accredited_10q.htm (10-Q) — 650KB
• accredited_ex311.htm (EX-31.1) — 10KB
• accredited_ex312.htm (EX-31.2) — 10KB
• accredited_ex321.htm (EX-32.1) — 4KB
• accredited_ex322.htm (EX-32.2) — 4KB
• 0001477932-24-000145.txt (&nbsp;) — 3532KB
• accredited-20230930.xsd (EX-101.SCH) — 41KB
• accredited-20230930_lab.xml (EX-101.LAB) — 235KB
• accredited-20230930_cal.xml (EX-101.CAL) — 42KB
• accredited-20230930_pre.xml (EX-101.PRE) — 191KB
• accredited-20230930_def.xml (EX-101.DEF) — 93KB
• accredited_10q_htm.xml (XML) — 462KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

ITEM 1. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA INDEX TO FINANCIAL STATEMENTS Condensed Consolidated Balance Sheets as of September 30, 2023 (Unaudited) and December 31, 2022 3 Condensed Consolidated Statements of Operations for the three and nine months ended September 30, 2023 and 2022 (Unaudited) 4 Condensed Consolidated Statement of Stockholders' Deficit as of September 30, 2023 and 2022 (Unaudited) 5 Condensed Consolidated Statements of Cash Flows for the nine months ended September 30, 2023 and 2022 (Unaudited) 6 Notes to Condensed Consolidated Financial Statements (Unaudited) 7 2 Table of Contents ACCREDITED SOLUTIONS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) September 30, 2023 December 31, 2022 ASSETS Current assets Cash $ 55,880 $ 1,418 Accounts receivable 80,821 51,224 Prepaid expenses - 2,422 Current assets held for sale - 266,251 Total current assets 136,701 321,315 Other assets Property, plant and equipment, net 63,479 86,446 Goodwill 302,215 302,215 Intellectual property 100,000 105,000 Total assets $ 602,395 $ 814,976 LIABILITIES AND STOCKHOLDERS' DEFICIT Current liabilities Accounts payable $ 214,969 $ 104,939 Advances from related parties 24,450 - Accrued liabilities 2,169 3,751 Interest payable 527,974 455,825 Interest payable to related parties 152,510 133,494 Notes payable 29,100 29,100 Convertible notes, net of discounts 438,649 529,887 Convertible notes to related parties, net of discounts 374,102 395,000 Derivative liabilities 4,461,733 2,838,278 Current liabilities held for sale - 200,149 Total current liabilities 6,225,656 4,690,423 Total liabilities 6,225,656 4,690,423 Stockholders' deficit Preferred stock - Class A - 30,000,000 shares authorized, $ 0.001 par value, 14,000 shares issued and outstanding 14 14 Common stock - 750,000,000 shares authorized, $ 0.001 par valu

View Full Filing

View this 10-Q filing on SEC EDGAR