Wed, Apr 16, 10:02 AM (27 days ago)
**AppSoft Technologies, Inc. (APPS) 10-K Summary** **Financial Performance (in 000s):** - **Revenue:** $0 for both 2024 and 2023. - **Net Income:** Loss of $60,846 in 2024 and $58,342 in 2023. - **Operating Expenses:** $60,847 in 2024 and $58,342 in 2023. - **Earnings per Share:** Loss of $0.01 for both 2024 and 2023. **Strategic Overview:** - **Business Model:** Develops, publishes, and markets mobile software applications and operates Esportsreporter.com. - **Current Focus:** Gamerfy.com platform for identifying, developing, and commercializing new games. - **Market Position:** Highly competitive with significant players and rapid technological changes. **Future Outlook:** - **Growth Strategy:** Resume publishing and marketing Apps when resources permit, explore new entry points in the esports market. - **Challenges:** Need for additional capital to fund development and commercialization of new Apps. **Risk Factors:** - **Financial:** Dependence on related-party loans, need for additional capital. - **Operational:** Competition, technological changes, reliance on third-party platforms. - **Regulatory:** Compliance with data privacy and security laws. **Financial Condition:** - **Liabilities:** $478,736 in 2024, including $442,543 in notes payable. - **Assets:** Negligible, with $101 in cash as of December 31, 2024. - **Going Concern:** Substantial doubt about the ability to continue as a going concern. **Market Position Changes:** - **Stock Performance:** Highly illiquid and volatile, trading on OTC Pink Sheets. - **Shareholders:** 55 record holders with 4,495,198 shares outstanding as of April 10, 2025. **Key Metrics:** - **Cash Flow:** Negative cash flow from operations, reliance on financing activities. - **Liquidity:** Working capital deficit of $36,092 as of December 31, 2024. **Conclusion:** AppSoft Technologies faces significant financial and operational challenges, requiring additional capital to sustain and grow its business. The company's strategic focus on the Gamerfy platform and potential resumption of App publishing and marketing efforts will be crucial for future success. However, the competitive landscape and regulatory environment pose substantial risks.