{"url_path":"/sec/asft/10-k/2026/item-8","section_key":"item-8","section_title":"Item 8 FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA**","topic":"sec","document":{"doc_type":"10-K","doc_date":"2026-04-27","source_url":"https://www.sec.gov/Archives/edgar/data/1651992/0001477932-26-002564-index.html","accession_number":"0001477932-26-002564","cik":"0001651992","ticker":"ASFT","issuer_name":"Appsoft Technologies, Inc.","edgar_url":"https://www.sec.gov/Archives/edgar/data/1651992/0001477932-26-002564-index.html","primary_entity_key":"0001651992","primary_entity_name":"Appsoft Technologies, Inc."},"word_count":4359,"has_tables":true,"body_markdown":"**ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA**\n\n** **\n\n**Index to Financial Statements**\n\n \n\n[Report of Independent Registered Public Accounting Firm (5041)](#repo)\n\n \n\nF-2\n\n \n\n \n\n \n\n \n\n \n\n[Balance Sheets](#BS)\n\n \n\nF-3\n\n \n\n \n\n \n\n \n\n \n\n[Statements of Operations and Comprehensive Loss](#OP)\n\n \n\nF-4\n\n \n\n \n\n \n\n \n\n \n\n[Statements of Cash Flows](#CF)\n\n \n\nF-5\n\n \n\n \n\n \n\n \n\n \n\n[Statements of Stockholders’ Equity for the year ended December 31, 2025](#EQ1)\n\n \n\nF-6\n\n \n\n \n\n \n\n \n\n \n\n[Statements of Stockholders’ Equity for the year ended December 31, 2024](#EQ2)\n\n \n\nF-7\n\n \n\n \n\n \n\n \n\n \n\n[Notes to Financial Statements](#NOTE)\n\n \n\nF-8\n\n \n\n \n\n \n\nF-1\n\n*Table of Contents*\n\n  \n\nMICHAEL GILLESPIE & ASSOCIATES, PLLC\n\n**CERTIFIED PUBLIC ACCOUNTANTS**\n\n**Vancouver, WA 98666**\n\n**206.353.5736**\n\n \n\n**REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM**\n\n \n\nTo the Shareholders, Board of Directors & Shareholders\n\nAppsoft Technologies, Inc.\n\n \n\n**Opinion on the Financial Statements**\n\nWe have audited the accompanying balance sheets of Appsoft Technologies, Inc. as of December 31, 2025 and 2024 and the related statements of operations, changes in stockholders’ deficit, cash flows, and the related notes (collectively referred to as “financial statements”) for the years then ended. In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2025 and 2024 and the results of its operations and its cash flows for the years December 31, 2025 and 2024 in conformity with accounting principles generally accepted in the United States of America.\n\n \n\n**Going Concern**\n\nThe accompanying financial statements have been prepared assuming the Company will continue as a going concern. As discussed in Note B to the financial statements, although the Company has limited operations and it has yet to attain profitability. This raises substantial doubt about its ability to continue as a going concern. Management’s plan in regard to these matters is also described in Note B. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.\n\n \n\n**Basis for Opinion**\n\nThese financial statements are the responsibility of the Company’s management. Our responsibility is to express an opinion on the Company’s financial statements based on our audit. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.\n\n \n\nWe conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audit, we are required to obtain an understanding of internal control over financial reporting, but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control over financial reporting. Accordingly, we express no such opinion.\n\n \n\nOur audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audit also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audit provides a reasonable basis for our opinion.\n\n \n\n/S/ MICHAEL GILLESPIE & ASSOCIATES, PLLC\n\nWe have served as the Company’s auditor since 2024.\n\n \n\nPCAOB ID: 6108\n\nVancouver, Washington\n\nApril 14, 2026\n\n \n\n \n\nF-2\n\n*Table of Contents*\n\n  \n\n**AppSoft Technologies, Inc.**\n\n \n\n**Balance Sheets**\n\n \n\n \n\n \n\n**December 31, 2025**\n\n \n\n \n\n**December 31, 2024**\n\n \n\n**CURRENT ASSETS**\n\n \n\n \n\n \n\n \n\n \n\n \n\n**Cash**\n\n \n**$****7**\n \n\n \n**$****101**\n \n\n**TOTAL CURRENT ASSETS**\n\n \n\n \n**7**\n \n\n \n\n \n**101**\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n**TOTAL ASSETS**\n\n \n**$****7**\n \n\n \n**$****101**\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n**LIABILITIES**\n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n**CURRENT LIABILITIES**\n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n**Accounts Payable and Accruals**\n\n \n\n \n**-**\n \n\n \n\n \n**298**\n \n\n**Accrued Interest - Related Party**\n\n \n\n \n**45,741**\n \n\n \n\n \n**35,895**\n \n\n**TOTAL CURRENT LIABILITIES**\n\n \n\n \n**45,741**\n \n\n \n\n \n**36,193**\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n**Note Payable - Related Party**\n\n \n\n \n**526,543**\n \n\n \n\n \n**442,543**\n \n\n**TOTAL LIABILITIES**\n\n \n\n \n**572,284**\n \n\n \n\n \n**478,736**\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n**COMMITMENTS AND CONTINGENCIES**\n\n \n**$****-**\n \n\n \n**$****-**\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n**STOCKHOLDER'S EQUITY**\n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n**Series A Cumulative, Convertible Preferred stock ($0.0001 par value; 10,000,000 shares authorized; 1,936,000 and 1,936,000 shares issued and outstanding at December 31, 2025 and 2024, respectively)**\n\n \n**$****193**\n \n\n \n**$****193**\n \n\n**Common stock ($0.0001 par value; 1,000,000,000 shares authorized; 4,495,198 and 4,495,198 shares issued and outstanding at December 31, 2025 and 2024, respectively)**\n\n \n\n \n**449**\n \n\n \n\n \n**449**\n \n\n**Additional Paid in Capital**\n\n \n\n \n**536,443**\n \n\n \n\n \n**536,443**\n \n\n**Accumulated Deficit**\n\n \n\n \n**(1,109,362****)**\n \n\n \n**(1,015,720****)**\n\n**TOTAL STOCKHOLDER'S EQUITY (DEFICIT)**\n\n \n\n \n**(572,277****)**\n \n\n \n**(478,635****)**\n\n**TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY/(DEFICIT)**\n\n \n**$****7**\n \n\n \n**$****101**\n \n\n \n\nThe accompanying notes are an integral part of these financial statements.\n\n \n\n \n\nF-3\n\n*Table of Contents*\n\n \n\n**AppSoft Technologies, Inc.**\n\n \n\n**Statements of Operations**\n\n \n\n \n\n \n\n**For the Years Ended December 31,**\n\n \n\n \n\n \n\n**2025**\n\n \n\n \n\n**2024**\n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n**Sales**\n\n \n**$****-**\n \n\n \n**$****-**\n \n\n**Total Revenue**\n\n \n**$****-**\n \n\n \n**$****-**\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n**EXPENSES:**\n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n**Selling, General and Administrative**\n\n \n\n \n**15,341**\n \n\n \n\n \n**8,178**\n \n\n**Interest Expense**\n\n \n\n \n**9,847**\n \n\n \n\n \n**8,354**\n \n\n**Outside Services**\n\n \n\n \n**31,195**\n \n\n \n\n \n**9,340**\n \n\n**Professional Fees**\n\n \n\n \n**37,260**\n \n\n \n\n \n**34,975**\n \n\n**Total Expense**\n\n \n\n \n**93,643**\n \n\n \n\n \n**60,847**\n \n\n**Loss from operations**\n\n \n**$****(93,643****)**\n \n**$****(60,847****)**\n\n**Other Income/(Loss)**\n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n**Interest Income**\n\n \n**$****1**\n \n\n \n**$****1**\n \n\n**Provision for Income Taxes**\n\n \n**$****-**\n \n\n \n**$****-**\n \n\n**NET LOSS**\n\n \n\n \n**(93,642****)**\n \n\n \n**(60,846****)**\n\n**Weighted average common shares outstanding, basic and fully diluted**\n\n \n\n \n**4,495,198**\n \n\n \n\n \n**4,498,198**\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n**Basic and fully diluted net loss per common share:**\n\n \n\n \n**(0.02****)**\n \n\n \n**(0.01****)**\n\n \n\nThe accompanying notes are an integral part of these financial statements.\n\n \n\n \n\nF-4\n\n*Table of Contents*\n\n \n\n**AppSoft Technologies, Inc.**\n\n \n\n**Statements of Cash Flows**\n\n \n\n \n\n \n\n**For the Years Ended December 31,**\n\n \n\n \n\n \n\n**2025**\n\n \n\n \n\n**2024**\n\n \n\n**CASH FLOWS FROM OPERATING ACTIVITIES:**\n\n \n\n \n\n \n\n \n\n \n\n \n\n**Net loss**\n\n \n**$****(93,642****)**\n \n**$****(60,846****)**\n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n**Adjustments to reconcile net (loss)****to net cash provided by (used in) operations:**\n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n**Changes in Assets and Liabilities:**\n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n**Increase (decrease) in Accounts Payable and Other Accruals**\n\n \n\n \n**(298****)**\n \n\n \n**-**\n \n\n**Increase (decrease) in Accrued Interest Expense**\n\n \n\n \n**9,846**\n \n\n \n\n \n**8,354**\n \n\n**NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES**\n\n \n\n \n**(84,094****)**\n \n\n \n**(52,492****)**\n\n**CASH FLOWS TO/(FROM) FINANCING ACTIVITIES:**\n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n**Note Payable - borrowings (Related Party)**\n\n \n\n \n**84,000**\n \n\n \n\n \n**50,000**\n \n\n**Owner Contributions**\n\n \n\n \n**-**\n \n\n \n\n \n**2,585**\n \n\n**NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES**\n\n \n\n \n**84,000**\n \n\n \n\n \n**52,585**\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n**NET INCREASE(DECREASE) IN CASH AND CASH EQUIVALENTS**\n\n \n\n \n**(94****)**\n \n\n \n**93**\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n**CASH AND CASH EQUIVALENTS,**\n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n**BEGINNING OF THE PERIOD**\n\n \n\n \n**101**\n \n\n \n\n \n**8**\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n**END OF THE PERIOD**\n\n \n**$****7**\n \n\n \n**$****101**\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n**SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:**\n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n**CASH PAID DURING THE PERIOD FOR:**\n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n**Interest**\n\n \n**$****-**\n \n\n \n**$****-**\n \n\n**Taxes**\n\n \n**$****-**\n \n\n \n**$****-**\n \n\n \n\nThe accompanying notes are an integral part of these financial statements.\n\n \n\n \n\nF-5\n\n*Table of Contents*\n\n \n\n**AppSoft Technologies, Inc.**\n\n \n\n**Statement of Stockholders' Equity**\n\n \n\n**For the Year Ended**\n\n**December 31, 2025**\n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n**Additional**\n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n**Common Stock**\n\n \n\n \n\n**Preferred Stock**\n\n \n\n \n\n**Paid-in**\n\n \n\n \n\n**Accumulated**\n\n \n\n \n\n  \n\n \n\n \n\n \n\n**Shares**\n\n \n\n \n\n**Amount**\n\n \n\n \n\n**Shares**\n\n \n\n \n\n**Amount**\n\n \n\n \n\n**Capital**\n\n \n\n \n\n**Deficit**\n\n \n\n \n\n**Equity**\n\n \n\n**Balances, January 1, 2025**\n\n \n\n \n**4,495,198**\n \n\n \n**$****449**\n \n\n \n\n \n**1,936,000**\n \n\n \n**$****193**\n \n\n \n**$****536,443**\n \n\n \n**$****(1,015,720****)**\n \n**$****(478,635****)**\n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n**Net Loss**\n\n \n\n \n**-**\n \n\n \n\n \n**-**\n \n\n \n\n \n**-**\n \n\n \n\n \n**-**\n \n\n \n\n \n**-**\n \n\n \n\n \n**(25,594****)**\n \n\n \n**(25,594****)**\n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n**Balances, March 31, 2025**\n\n \n\n \n**4,495,198**\n \n\n \n\n \n**449**\n \n\n \n\n \n**1,936,000**\n \n\n \n\n \n**193**\n \n\n \n\n \n**536,443**\n \n\n \n\n \n**(1,041,314****)**\n \n\n \n**(504,229****)**\n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n**Net Loss**\n\n \n\n \n**-**\n \n\n \n\n \n**-**\n \n\n \n\n \n**-**\n \n\n \n\n \n**-**\n \n\n \n\n \n**-**\n \n\n \n\n \n**(30,396****)**\n \n\n \n**(30,396****)**\n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n**Balances, June 30, 2025**\n\n \n\n \n**4,495,198**\n \n\n \n**$****449**\n \n\n \n\n \n**1,936,000**\n \n\n \n**$****193**\n \n\n \n**$****536,443**\n \n\n \n**$****(1,071,710****)**\n \n**$****(534,625****)**\n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n**Net Loss**\n\n \n\n \n**-**\n \n\n \n\n \n**-**\n \n\n \n\n \n**-**\n \n\n \n\n \n**-**\n \n\n \n\n \n**-**\n \n\n \n\n \n**(18,830****)**\n \n\n \n**(18,830****)**\n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n**Balances, September 30, 2025**\n\n \n\n \n**4,495,198**\n \n\n \n**$****449**\n \n\n \n\n \n**1,936,000**\n \n\n \n**$****193**\n \n\n \n**$****536,443**\n \n\n \n**$****(1,090,540****)**\n \n**$****(553,455****)**\n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n**Net Loss**\n\n \n\n \n**-**\n \n\n \n\n \n**-**\n \n\n \n\n \n**-**\n \n\n \n\n \n**-**\n \n\n \n\n \n**-**\n \n\n \n\n \n**(18,822****)**\n \n\n \n**(18,822****)**\n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n**Balances, December 31, 2025**\n\n \n\n \n**4,495,198**\n \n\n \n**$****449**\n \n\n \n\n \n**1,936,000**\n \n\n \n**$****193**\n \n\n \n**$****536,443**\n \n\n \n**$****(1,109,362****)**\n \n**$****(572,277****)**\n\n \n\nThe accompanying notes are an integral part of these financial statements.\n\n \n\n \n\nF-6\n\n*Table of Contents*\n\n \n\n**AppSoft Technologies, Inc.**\n\n \n\n**Statement of Stockholders' Equity**\n\n \n\n**For the Year Ended**\n\n**December 31, 2024**\n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n**Additional**\n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n**Common Stock**\n\n \n\n \n\n**Preferred Stock**\n\n \n\n \n\n**Paid-in**\n\n \n\n \n\n**Accumulated**\n\n \n\n \n\n**Total**\n\n \n\n \n\n \n\n**Shares**\n\n \n\n \n\n**Amount**\n\n \n\n \n\n**Shares**\n\n \n\n \n\n**Amount**\n\n \n\n \n\n**Capital**\n\n \n\n \n\n**Deficit**\n\n \n\n \n\n**Equity**\n\n \n\n**Balances, January 1, 2024**\n\n \n\n \n**4,495,198**\n \n\n \n**$****449**\n \n\n \n\n \n**1,936,000**\n \n\n \n**$****193**\n \n\n \n**$****533,858**\n \n\n \n**$****(954,874****)**\n \n**$****(420,374****)**\n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n**Net Loss**\n\n \n\n \n**-**\n \n\n \n\n \n**-**\n \n\n \n\n \n**-**\n \n\n \n\n \n**-**\n \n\n \n\n \n**-**\n \n\n \n\n \n**(14,986****)**\n \n\n \n**(14,986****)**\n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n**Balances, March 31, 2024**\n\n \n\n \n**4,495,198**\n \n\n \n\n \n**449**\n \n\n \n\n \n**1,936,000**\n \n\n \n\n \n**193**\n \n\n \n\n \n**533,858**\n \n\n \n\n \n**(969,860****)**\n \n\n \n**(435,360****)**\n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n**Net Loss**\n\n \n\n \n**-**\n \n\n \n\n \n**-**\n \n\n \n\n \n**-**\n \n\n \n\n \n**-**\n \n\n \n\n \n**-**\n \n\n \n\n \n**(13,739****)**\n \n\n \n**(13,739****)**\n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n**Balances, June 30, 2024**\n\n \n\n \n**4,495,198**\n \n\n \n**$****449**\n \n\n \n\n \n**1,936,000**\n \n\n \n**$****193**\n \n\n \n**$****533,858**\n \n\n \n**$****(983,599****)**\n \n**$****(449,099****)**\n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n**Capital Contributions**\n\n \n\n \n**-**\n \n\n \n\n \n**-**\n \n\n \n\n \n**-**\n \n\n \n\n \n**-**\n \n\n \n\n \n**585**\n \n\n \n\n \n**-**\n \n\n \n\n \n**585**\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n**Net Loss**\n\n \n\n \n**-**\n \n\n \n\n \n**-**\n \n\n \n\n \n**-**\n \n\n \n\n \n**-**\n \n\n \n\n \n**-**\n \n\n \n\n \n**(11,042****)**\n \n\n \n**(11,042****)**\n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n**Balances, September 30, 2024**\n\n \n\n \n**4,495,198**\n \n\n \n**$****449**\n \n\n \n\n \n**1,936,000**\n \n\n \n**$****193**\n \n\n \n**$****534,443**\n \n\n \n**$****(994,641****)**\n \n**$****(459,556****)**\n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n**Capital Contributions**\n\n \n\n \n**-**\n \n\n \n\n \n**-**\n \n\n \n\n \n**-**\n \n\n \n\n \n**-**\n \n\n \n\n \n**2,000**\n \n\n \n\n \n**-**\n \n\n \n\n \n**2,000**\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n**Net Loss**\n\n \n\n \n**-**\n \n\n \n\n \n**-**\n \n\n \n\n \n**-**\n \n\n \n\n \n**-**\n \n\n \n\n \n**-**\n \n\n \n\n \n**(21,079****)**\n \n\n \n**(21,079****)**\n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n**Balances, December 31, 2024**\n\n \n\n \n**4,495,198**\n \n\n \n**$****449**\n \n\n \n\n \n**1,936,000**\n \n\n \n**$****193**\n \n\n \n**$****536,443**\n \n\n \n**$****(1,015,720****)**\n \n**$****(478,635****)**\n\n \n\nThe accompanying notes are an integral part of these financial statements.\n\n \n\n \n\nF-7\n\n*Table of Contents*\n\n \n\n**NOTE A—BUSINESS ACTIVITY**\n\n \n\nAppSoft Technologies (the \"Company”) was organized under the laws of the State of Nevada March 24, 2015. The Company’s fiscal year-end is December 31st. Appsoft is a developer of innovative games/mobile apps as well as Esports/E-gaming platforms, including Esportsreporter, a leading news channel for all things esports and professional gaming. Coverage includes events with live reporters as well as conducting face-to-face and virtual interviews with professional players in the space. We are currently building a following on digital media to generate revenue from sales, sponsorships, or merchandise from our fanbase and advertisers published on our ad supported content.\n\n \n\n**NOTE B—GOING CONCERN**\n\n \n\nThe accompanying financial statements have been prepared on a going concern basis, which assumes the Company will realize its assets and discharge its liabilities in the normal course of business. As reflected in the accompanying financial statements, the Company has a deficit accumulated of $1,109,362 and cash used in operations of $84,094 at the period ended December 31, 2025.\n\n \n\nThe Company’s ability to continue as a going concern is dependent upon its ability to generate future profitable operations and/or to obtain the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they come due. These circumstances raise substantial doubt about the Company’s ability to continue as a going concern for the 12 months from the date when these financial statements were issued. The accompanying financial statements do not include any adjustments that might arise because of this uncertainty.\n\n \n\nTo address these aforementioned, management has undertaken the following initiatives:  1) enter into discussions to secure additional equity funding from current or new shareholders; 2) undertake a program to continue to monitor the Company’s ongoing working capital requirements and minimum expenditure commitments; 3) continue their focus on maintaining an appropriate level of corporate overhead in line with the Company’s available cash resources.\n\n \n\n**NOTE C—SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES**\n\n \n\nBasis of Presentation- The financial statements included herein were prepared under Generally Accepted Accounting Principles (GAAP). All adjustments have been made which in the opinion of management are necessary, normal, and recurring in nature for presentation.\n\n \n\nThe results for interim financial statements are not necessarily indicative of the results of operations for the full year. Interim financial statements and related footnotes should be read in conjunction with the consolidated financial statements and footnotes thereto included in the Company’s Annual Report on Form 10K for the year ended December 31, 2025, filed with the Securities and Exchange Commission.\n\n \n\nThe accompanying condensed financial statements have been prepared by the Company without audit. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position, results of operations, and cash flows at December 31, 2025 and for the related periods presented.\n\n \n\nCash and Cash Equivalents- For the purposes of the Statement of Cash Flows, the Company considers liquid investments with an original maturity of three months or less to be cash equivalents.\n\n \n\nManagement’s Use of Estimates- The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. The financial statements above reflect all the costs of doing business.\n\n \n\nRevenue Recognition- On May 28, 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No.2014-09, Revenue from Contracts with Customers, Topic 606 (“ASC 606”), requiring an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The new revenue standard replaces most existing revenue recognition guidance in GAAP and permits the use of either the full retrospective or modified retrospective transition method.\n\n \n\n \n\nF-8\n\n*Table of Contents*\n\n \n\n**NOTE C—SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES—CONT’D**\n\n \n\n \n\nThe Company adopted this standard using the modified basis effective January 1, 2019, and given the Company's limited revenue, the modified retrospective basis has no material impact on prior years given the limited revenue.\n\n \n\nComprehensive Income (Loss) - The Company reports Comprehensive income and its components following guidance set forth by section 220-10 of the FASB Accounting Standards Codification which establishes standards for the reporting and display of comprehensive income and its components in the financial statements. There were no items of comprehensive income (loss) applicable to the Company during the period covered in the financial statements.\n\n \n\nNet Income per Common Share- Net loss per common share is computed pursuant to section 260-10-45 of the FASB Accounting Standards Codification. Basic net loss per share is computed by dividing net loss by the weighted average number of shares of common stock outstanding during the period. Diluted net loss per share is computed by dividing net loss by the weighted average number of shares of common stock and potentially outstanding shares of common stock during each period. There was a total of 1,936,000 upon conversion of preferred stock as of December 31, 2025.\n\n \n\nDeferred Taxes- The Company accounts for income taxes under Section 740-10-30 of the FASB Accounting Standards Codification. Deferred income tax assets and liabilities are determined based upon differences between the financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. Deferred tax assets are reduced by a valuation allowance to the extent management concludes it is more likely than not that the assets will not be realized. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the statements of operations in the period that includes the enactment date.\n\n \n\nFair Value of Financial Instruments- The carrying amounts reported in the balance sheet for cash, accounts receivable and accounts payable approximate fair value based on the short-term maturity of these instruments.\n\n \n\nAccounts Receivable- Accounts deemed uncollectible are written off in the year they become uncollectible. As of December 31, 2025 and 2024, the balance in Accounts Receivable was $0 and $0.\n\n \n\nImpairment of Long-Lived Assets- The Company evaluates the recoverability of its fixed assets and other assets in accordance with section 360-10-15 of the FASB Accounting Standards Codification for disclosures about Impairment or Disposal of Long-Lived Assets. Disclosure requires recognition of impairment of long-lived assets in the event the net book value of such assets exceeds its expected cash flows. If so, it is impaired and is written down to fair value, which is determined based on either discounted future cash flows or appraised values. The Company adopted the statement on inception. No impairments of these types of assets were recognized during the periods ended December 31, 2025 and 2024.\n\n \n\nStock-Based Compensation- The Company accounts for stock-based compensation using the fair value method following the guidance set forth in section 718-10 of the FASB Accounting Standards Codification for disclosure about Stock-Based Compensation. This section requires a public entity to measure the cost of employee services received in exchange for an award of equity instruments based on the grant-date fair value of the award (with limited exceptions). That cost will be recognized over the period during which an employee is required to provide service in exchange for the award- the requisite service period (usually the vesting period). No compensation cost is recognized for equity instruments for which employees do not render the requisite service.\n\n \n\nFair Value for Financial Assets and Financial Liabilities- The Company follows paragraph 825-10-50-10 of the FASB Accounting Standards Codification for disclosures about fair value of its financial instruments and paragraph 820-10-35-37 of the FASB Accounting Standards Codification (“Paragraph 820-10-35-37”) to measure the fair value of its financial instruments. Paragraph 820-10-35-37 establishes a framework for measuring fair value in accounting principles generally accepted in the United States of America (U.S. GAAP) and expands disclosures about fair value measurements. To increase consistency and comparability in fair value measurements and related disclosures, Paragraph 820-10-35-37 establishes a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The three levels of fair value hierarchy defined by Paragraph 820-10-35-37 are described below:\n\n \n\n \n\nF-9\n\n*Table of Contents*\n\n \n\n**NOTE C—SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES—CONT’D**\n\n \n\n \n\n \n\n \n\n \n\nLevel 1\n\nQuoted market prices available in active markets for identical assets or liabilities as of the reporting date.\n\n \n\nLevel 2\n\nPricing inputs other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reporting date.\n\n \n\nLevel 3\n\nPricing inputs that are generally unobservable inputs and not corroborated by market data.\n\n \n\nThe carrying amounts of the Company’s financial assets and liabilities, such as cash and accrued expenses, approximate their fair values because of the short maturity of these instruments. The Company’s note payable approximates the fair value of such instrument based upon management’s best estimate of interest rates that would be available to the Company for similar financial arrangement at the periods ended December 31, 2025 and 2024.\n\n \n\nThe Company does not have any assets or liabilities measured at fair value on a recurring or a non-recurring basis, consequently, the Company did not have any fair value adjustments for assets and liabilities measured at fair value at December 31, 2025, nor gains or losses are reported in the statement of operations that are attributable to the change in unrealized gains or losses relating to those assets and liabilities still held at the reporting date for the periods ended December 31, 2025 and 2024.\n\n \n\n**Recently Issued Accounting Pronouncements**\n\n \n\nIn November 2024, the Financial Accounting Standards Board (FASB) issued ASU 2024-03, *Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures (Topic 220): Disaggregation of Income Statement Expenses*, which requires additional disclosure of certain amounts included in the expense captions presented on the statement of operations, as well as disclosures about selling expenses. ASU 2024-03 is effective for the Company’s annual reporting periods beginning after December 15, 2026 and interim reporting periods beginning after December 15, 2027, on a prospective basis, with the option for retrospective application. Early adoption is permitted for annual financial statements that have not yet been issued. The Company is currently evaluating the impact that the standard will have on its condensed financial statements\n\n \n\nOther pronouncements issued by the FASB or other authoritative accounting standards groups with future effective dates are either not applicable or are not expected to be significant to the Company’s financial position, results of operations or cash flows.\n\n \n\n**NOTE D-SEGMENT REPORTING**\n\n \n\nThe Company follows the guidance set forth by section 280-10 of the FASB Accounting Standards Codification for reporting and disclosure on operating segments of the Company. It also requires segment disclosures about products and services, geographic areas, and major customers. The Company determined that it did not have any separately reportable operating segments as of December 31, 2025 and 2024.\n\n \n\n**NOTE E-CAPITAL STOCK**\n\n \n\nThe Company is authorized to issue 1,000,000,000 Common Shares at $.0001 par value per share.\n\n \n\n**Total issued and outstanding shares of common stock is 4,495,198 and 4,495,198 as of December 31, 2025 and December 31, 2024, respectively.**\n\n \n\n**Total issued and outstanding shares of preferred stock is 1,936,000 and 1,936,000 as of December 31, 2025 and December 31, 2024, respectively.**\n\n \n\n \n\nF-10\n\n*Table of Contents*\n\n \n\n**NOTE E-CAPITAL STOCK – CONT’D**\n\n \n\n \n\nThe Company is authorized to issue 10,000,000 Series A Cumulative, Convertible Preferred Shares (Preferred Stock) at $.0001 par value per share.\n\n \n\nThe Company agreed to reduce the price at which each share of Series A Preferred Stock, of which Ventureo is the sole holder, converts into Common Stock from $0.005 per share to $0.0002 per share. The Company filed an amendment to its Articles of Incorporation reflecting the change of the conversion price. The Company’s Board approved the Agreement by unanimous written consent to action on November 30, 2018, and the Majority Holders approved the Agreement by the Stockholder Consent on December 4, 2018.\n\n \n\nDuring 2021, the Company converted 1,400 shares of Preferred Stock into 350,000 shares of Common Stock.\n\n \n\nCapital Contributions\n\n \n\nBrian Kupchik, President, and CEO made no capital contributions during the period ended December 31, 2025 and $2,585 in capital contributions during the period ended December 31, 2024.\n\n \n\n**NOTE F – INCOME TAX**\n\n \n\nThe Company provides for income taxes under (now included under Accounting Standards Codification (ASC), 740), Accounting for Income Taxes. ASC 740 requires the use of an asset and liability approach in accounting for income taxes. Deferred tax assets and liabilities are recorded based on the differences between the financial statement and tax bases of assets and liabilities and the tax rates in effect when these differences are expected to reverse.\n\n \n\nASC 740 requires the reduction of deferred tax assets by a valuation allowance if, based on the weight of available evidence, it is more likely than not that some or all the deferred tax assets will not be realized. For Federal income tax purposes, the Company has net operating loss carry forwards that expire through 2030. The net operating loss carry forward as of December 31, 2025 is approximately $1,109,000 and as of December 31, 2024 is $1,015,000 approximately. The total deferred tax assets are approximately $233,000 and $213,000 for the periods ended December 31, 2025 and 2024, respectively.\n\n \n\nNo tax benefit has been reported in the financial statements because after evaluating our own potential tax uncertainties, the Company has determined that there are no material uncertain tax positions that have a greater than 50% likelihood of reversal if the Company were to be audited. The provision for income taxes differs from the amounts which would be provided by applying the statutory federal income tax rate of 21% to the net loss before provision for income taxes for the following reasons:\n\n \n\n**The Company is not obligated to pay State Income Taxes because it is a Nevada corporation. The Company does not currently have any tax returns open for examination.**\n\n \n\n**NOTE G—RELATED PARTY NOTES PAYABLE AND NOTE EXCHANGE AGREEMENT**\n\n \n\nThe total amount of the Related Party Notes Payable is **$526,543** and bears interest at 2% per year. Interest expense for the years ended December 31, 2025 and 2024 were $9,847 and $8,354, respectively. Total accrued interest as of December 31, 2025 is $45,741.\n\n \n\nDetails of the Related Party Notes Payable is as follows:\n\n \n\n*2018 Notes Payable*\n\n \n\n2018 Principal and Interest were consolidated into promissory note in the amount of **$160,314**. The note bears interest at 2% per year.\n\n \n\n \n\nF-11\n\n*Table of Contents*\n\n \n\n**NOTE G--NOTES PAYABLE AND NOTE EXCHANGE AGREEMENT—CONT’D**\n\n \n\n \n\nOn November 30, 2018, the Company entered into an Exchange Agreement with its Creditors under which each Creditor agreed to cancel the Original Notes issued and accept a new promissory note in the amount of $160,314 from the Company evidencing the amount of principal and accrued interest thereon through such date owed to the Creditor that mature on December 31, 2021 in exchange for the Original Notes.\n\n \n\nIn consideration for the exchange of the Original Notes for the New Notes, the Company agreed to reduce the price at which each share of Series A Preferred Stock, of which Ventureo is the sole holder, converts into Common Stock from $0.005 per share to $0.0002 per share. The Company filed an amendment to its Articles of Incorporation reflecting the change of the conversion price. The Company’s Board approved the Agreement by unanimous written consent to action on November 30, 2018, and the Majority Holders approved the Agreement by the Stockholder Consent on December 4, 2018.\n\n \n\nAlthough new borrowings are not yet formalized into a note agreement, the Company and the lender agree that the new loans have the same terms and conditions for the formalized notes.\n\n \n\n*2019 Notes Payable*\n\n \n\nIn 2019 an additional **$42,106** was incurred in promissory notes. The note bears interest at 2% per year.\n\n \n\n*BGS Drawdown Promissory Note (Related Party)*\n\n \n\nOn December 31, 2020, the Company executed a Drawdown Promissory Note in favor of Bryan Glass Securities, Inc. (“BGS”) under which the Company is entitled to borrow up to an aggregate of $150,000 during the 2020 and 2021 calendar years (the “Drawdown Note”). The original drawdown amount was $50,000 but has been increased to $150,000 in 2021. Under the Drawdown Note, the Company must request a drawdown against the instrument not less than three days prior to the date on which it requires the proceeds stating the amount of the drawdown and the purposes to which the proceeds will be applied. BGS is entitled to approve or decline an advance of all or a portion of the drawdown request. The unpaid principal amount of the Drawdown Note bears interest at the rate of 2% per year. On October 17, 2022, BGS agreed to extend the maturity date of the Drawdown Note to December 31, 2024. On January 1, 2023, the Drawdown Note amount was increased from $150,000 to $400,000.\n\n \n\n \n\n·\n\nDuring the year 2020, **$38,800** of the drawdown was borrowed.\n\n \n\n \n\n \n\n \n\n·\n\nDuring the year 2021, **$62,721** of the drawdown was borrowed.\n\n \n\n \n\n \n\n \n\n·\n\nDuring the year 2022, **$24,775** of the drawdown was borrowed.\n\n \n\n \n\n \n\n \n\n·\n\nDuring the year 2023, **$63,827** of the drawdown was borrowed.\n\n \n\n \n\n \n\n \n\n·\n\nDuring the year 2024, **$50,000** of the drawdown was borrowed.\n\n \n\n \n\n \n\n \n\n·\n\nDuring the year 2025, **$84,000** of the drawdown was borrowed.\n\n \n\nAs of December 31, 2025, the Company has borrowed an aggregate of **$324,123** from BGS under the Drawdown Note and the sum of **$75,877** remains available for advances thereunder.\n\n \n\n**NOTE H—MATERIAL EVENTS/SUBSEQUENT EVENTS**\n\n \n\nSince the close of the period covered by the financial statements of which these notes form a part, the following material transactions have occurred:\n\n \n\nSubsequent Events\n\n \n\nThe Company evaluated for subsequent events from December 31, 2025 through April 14, 2026 (the issuance date of the Company’s financial statements) and has determined that the only subsequent event that has occurred is the additional $20,600 drawn from the BGS Drawdown Note.\n\n \n\nMaterial Events\n\n \n\nOn November 12, 2025, BGS agreed to extend the maturity date of the Drawdown note to December 31, 2027.\n\n \n\n \n\nF-12\n\n*Table of Contents*"}