U.S. SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended: ~~March~~June 3130, 2024

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from ________ to _________

Commission file number: 333-206764

APPSOFT TECHNOLOGIES, INC.

(Name of Small Business Issuer in its charter)

Nevada

47-3427919

(State or other jurisdiction

of Identification No.)

(I.R.S. Employer

incorporation or organization)

1225 Franklin Avenue, Suite 325, Garden City, NY 11530

Address of registrant’'s principal executive offices

(516) 224-7717 ~~Issuer’s telephone number~~

~~_______________________________________~~Issuer’s telephone number

_________________________________________________________

(Former name, former address and former fiscal year, if changed since last report)

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
common stock, par value $0.001 per share	ASFT	OTCQB

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. ☒ Yes ☐ No

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). ☒ Yes ☐ No

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. ~~See~~or ~~the~~an ~~definitions~~emerging ofgrowth ~~“large accelerated filer,” “accelerated filer” and “smaller reporting~~ company~~” in Rule 12b-2 of the Exchange Act~~.

Large accelerated filer ☐ Accelerated filer ☐ Non-accelerated filer ☐☒ Smaller reporting company ☒ ~~(Do not check if a smaller reporting company)~~ Emerging Growth Company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). ☐ Yes ☒ No

~~State~~At ~~the~~August ~~number~~15, of2024, ~~shares~~there ~~outstanding~~were of4,153,103 ~~each~~shares of ~~the issuer’s classes of~~ common ~~equity,~~stock ~~as of the latest practicable date:~~outstanding.

At May 20, 2023, there were 4,504,103 shares of common stock outstanding.

PART I — FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS

AppSoft Technologies, Inc.

Balance Sheets

	March 31,2024			December 31,2023
	June 30, 2024			December 31, 2023
	(Unaudited)			(Audited)
CURRENT ASSETS
Cash	$	~~107~~35		$	8
TOTAL CURRENT ASSETS		~~107~~35			8
TOTAL ASSETS	$	~~107~~35		$	8
LIABILITIES
CURRENT LIABILITIES
Accounts Payable and Accruals		298			298
Accrued Interest		2931,~~526~~593			27,541
TOTAL CURRENT LIABILITIES		2931,~~824~~891			27,839
Note Payable		~~405~~417,~~643~~243			392,543
TOTAL LIABILITIES		~~435~~449,~~467~~134			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
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 June 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 March 31, 2024 and December 31, 2023, respectively)		449			449
Common stock ($0.0001 par value; 1,000,000,000 shares authorized; 4,504,103 and 4,504,103 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively)		449			449
Additional Paid in Capital		533,858			533,858
Accumulated Deficit		(~~969~~983,~~860~~599	)		(954,874	)
TOTAL STOCKHOLDER'S EQUITY (DEFICIT)		(~~435~~449,~~360~~099	)		(420,374	)
TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY/(DEFICIT)	$	~~107~~35		$	8

The accompanying notes are an integral part of these financial statements.

AppSoft Technologies, Inc.

Statements of Operations

	For the Three Months Ended March 31,
	For the Three Months Ended June 30,						For the Six Months Ended June 30,
	2024 (Unaudited)			2023 (Unaudited)			2024 (Unaudited)			2023 (Unaudited)
Sales	$	-		$	-		$	-		$	-
Total Revenue	$	-		$	-		$	-		$	-
EXPENSES:
Selling, General and Administrative		2,~~252~~362			14,~~409~~379			4,619			5,787
Interest Expense		12,~~984~~067			1,~~704~~863			4,051			3,573
Outside Services		-260			~~975~~890			260			1,865
Professional Fees		109,~~750~~050			2215,~~980~~400			19,800			38,380
Total Expense		1413,~~986~~739			2722,~~068~~532			28,730			49,605
Loss from operations	$	(1413,~~986~~739	)	$	(2722,~~068~~532	)	$	(28,730	)	$	(49,605	)
Other Income/Loss)
Income on Extinguishment of Debt	$	-		$	~~7,900~~-		$	-		$	7,900
Provision for Income Taxes	$	-		$	-		$	-		$	-
NET LOSS		(1413,~~986~~739	)		(1922,~~168~~532	)		(28,730	)		(41,705	)
Weighted average common shares outstanding, basic and fully diluted		4,504,103			4,504,103			4,504,103			4,504,103
Basic and fully diluted net loss per common share:	$	(0.00	)	$	(0.0001	)	$	(0.01	)	$	(0.01	)

The accompanying notes are an integral part of these financial statements.

AppSoft Technologies, Inc.

Statements of Cash Flows

	For the Three Months Ended March 31,
	For the Six Months Ended June 30,
	2024 (Unaudited)			2023 (Unaudited)
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$	(1428,~~986~~730	)	$	(2749,~~068~~605	)
Income on Extinguishment of Debt		-			7,900
Adjustments to reconcile net (loss)
Adjustments to reconcile net (loss) to net cash provided by (used in) operations:
to net cash provided by (used in) operations:
Changes in Assets and Liabilities:
Increase (decrease) in Accounts Payable and Other Accruals		-			1(10,~~469~~687	)
Increase (decrease) in Accrued Interest Expense		14,~~985~~057			13,~~704~~574
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES		(1324,~~001~~673	)		(1548,~~995~~818	)
CASH FLOWS TO/(FROM) FINANCING ACTIVITIES:
Note Payable - borrowings		1324,~~100~~700			1648,~~023~~827
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES		1324,~~100~~700			1648,~~023~~827
NET INCREASE(DECREASE) IN CASH AND CASH EQUIVALENTS		9927			289
CASH AND CASH EQUIVALENTS,
BEGINNING OF THE PERIOD		8			5
END OF THE PERIOD	$	~~107~~35		$	3314
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
CASH PAID DURING THE PERIOD FOR:
Interest	$	-		$	-
Taxes	$	-		$	-

The accompanying notes are an integral part of these financial statements.

AppSoft Technologies, Inc.

Statement of Stockholders' Equity

For the Three Months Ended
For the Six Months Ended
March 31, 2024 (Unaudited)
June 30, 2024 (Unaudited)
									Additional
	Common Stock				Preferred Stock				Paid-in		Accumulated			Total
	Shares		Amount		Shares		Amount		Capital		Deficit			Equity
Balances, January 1, 2024		4,504,143	$	449		1,936,000	$	193	$	533,858	$	(954,874	)	$	(420,374	)
Net Loss		-		-		-		-		-		(14,986	)	$	(14,986	)
Balances, March 31, 2024		4,504,143	$	449		1,936,000	$	193	$	533,858	$	(969,860	)	$	(435,360	)
Net Loss		-		-		-		-		-		(13,739	)	$	(13,739	)
Balances, June 30, 2024		-	$	449		1,936,000	$	193	$	533,858	$	(983,599	)	$	(449,099	)

For the Three Months Ended
For the Six Months Ended
March 31, 2023 (Unaudited)
June 30, 2023 (Unaudited)
									Additional
	Common Stock				Preferred Stock				Paid-in		Accumulated			~~Total~~
	Shares		Amount		Shares		Amount		Capital		Deficit			Equity
Balances, January 1, 2023		4,504,143	$	449		1,936,000	$	193	$	533,858	$	(904,432	)	$	(369,932	)
Net Loss		-		-		-		-		-		(19,~~168~~173	)	$	(19,~~168~~173	)
Balances, March 31, 2023		4,504,143	$	449		1,936,000	$	193	$	533,858	$	(923,~~600~~605	)	$	(389,~~100~~105	)
Net loss		-		-		-		-		-		(22,532	)		(22,532	)
Balances, June 30, 2023		4,504,143		449		1,936,000		193		533,858		(946,137	)		(411,637	)

The accompanying notes are an integral part of these financial statements.

APPSOFT TECHNOLOGIES~~, INC.~~

NOTES TO THE (UNAUDITED) FINANCIAL STATEMENTS

AS OF ~~MARCH~~JUNE 3130, 2024

NOTE A—BUSINESS ACTIVITY

AppSoft Technologies (the "Company”) was organized under the laws of the State of Nevada March 24, 2015. The Company’s fiscal year-end is December 31^st. 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.

The results for the three months ended June 30, 2024 are not necessarily indicative of the results of operations for the full year. These 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, 2023, filed with the Securities and Exchange Commission on April 11, 2024.

The 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 June 30, 2024 and for the related periods presented.

NOTE B—GOING CONCERN

The 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 $~~969~~983,~~860~~599 and cash used in operations of $1324,~~001~~673 at the period ended ~~March~~June 3130, 2024.

The 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.

To 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.

NOTE C—SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis 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.

Interim filings should be read in conjunction with the Company’s annual report as of December 31, 2023.

Cash 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.

Management’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.

Revenue 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 ~~retro30spective~~retrospective or modified retrospective transition method. The 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.

APPSOFT TECHNOLOGIES~~, INC.~~

NOTES TO THE (UNAUDITED) FINANCIAL STATEMENTS

AS OF ~~MARCH~~JUNE 3130, 2024

NOTE C—SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES—CONT’D

Comprehensive 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.

Net 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 ~~March~~June 3130, 2024.

Deferred 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.

Fair 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.

Accounts Receivable- Accounts deemed uncollectible are written off in the year they become uncollectible. As of ~~March~~June 3130, 2024 and 2023, the balance in Accounts Receivable was $0 and $0.

Impairment 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 ~~March~~June 3130, 2024 and 2023.

Stock-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.

Fair 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:

APPSOFT TECHNOLOGIES~~, INC.~~

NOTES TO THE (UNAUDITED) FINANCIAL STATEMENTS

AS OF ~~MARCH~~JUNE 3130, 2024

NOTE C—SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES—CONT’D

defined by Paragraph 820-10-35-37 are described below:

Level 1	Quoted market prices available in active markets for identical assets or liabilities as of the reporting date.
Level 2	Pricing inputs other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reporting date.
Level 3	Pricing inputs that are generally unobservable inputs and not corroborated by market data.

The 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 ~~March~~June 3130, 2024 and 2023.

The 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 ~~March~~June 3130, 2024, 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 ~~March~~June 3130, 2024 and 2023.

Recently Issued Accounting Pronouncements

In November 2023, the FASB issued ASU 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures”, which improves reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. ASU 2023-07 is effective for the Company for the year ended 2024 and early adoption is permitted. Upon adoption, the guidance should be applied retrospectively to all prior periods presented in the financial statements. The Company does not expect that the guidance will have material impacts on its financial position, results of operations or cash flows. The Company is evaluating the impact that the updated standard will have on its financial statement disclosures.

In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures”, which improves the transparency of income tax disclosures. ASU 2023-09 is effective for the Company for the year ended December 31, 2025 and early adoption is permitted. Upon adoption, the guidance should be applied retrospectively to all prior periods presented in the financial statements. The Company is evaluating the impact that the updated standard will have on its financial statement disclosures.

Other 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.

NOTE D-SEGMENT REPORTING

The 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 ~~March~~June 3130, 2024 and 2023.

NOTE E-CAPITAL STOCK

The Company is authorized to issue 1,000,000,000 Common Shares at $0.0001 par value per share.

Total issued and outstanding shares of common stock is 4,504,103 and 4,504,103 as of ~~March~~June 3130, 2024 and ~~March~~June 3130, 2023, respectively.

Total issued and outstanding shares of preferred stock is 1,936,000 and 1,936,000 as of ~~March~~June 3130, 2024 and ~~March~~June 3130, 2023, respectively.

APPSOFT TECHNOLOGIES~~, INC.~~

NOTES TO THE (UNAUDITED) FINANCIAL STATEMENTS

AS OF ~~MARCH~~JUNE 3130, 2024

NOTE E-CAPITAL STOCK—CONT’D

The Company is authorized to issue 10,000,000 Series A Cumulative, Convertible Preferred Shares (Preferred Stock) at $0.0001 par value per share. During the period from inception (March 24, 2015) through December 31, 2016, the Company issued 2,000,000 shares of preferred stock at $0.05 per share to Ventureo, LLC in exchange for $50,000 in cash and Phone Apps with a fair market value of $50,000 for a total of $100,000. The shares of “Preferred Stock” are convertible, at the option of the holder, into shares of common stock at a conversion price of $0.005 per share. The holder of the “Preferred Stock” may not convert any portion of the “Preferred Stock” if, after giving effect to such conversion, the holder would beneficially own in excess of 4.99%, except that the holder may, by written notice to the Company, increase or decrease this percentage up to a maximum of 9.99%, provided that any such increase will not be effective until the 61st day after such notice is delivered to the Company. Upon a liquidation event, the Company shall first pay to the holders of the “Preferred Stock” an amount per share equal to the Original Issue Price (i.e., $0.05 per share of Series A Preferred Stock), plus all accrued and unpaid dividends on each share of Series A Preferred Stock (the “Series A Preference Amount”). After full payment of the liquidation preference amount to the holders of the “Preferred Stock,” the Company will then distribute the remaining assets to holders of common stock, other junior preferred shares (if any) and the “Preferred Stock” on an as-if-converted-basis. The Series A Preferred Stock ranks senior to the Company’s common stock and senior to any other shares of preferred stock the Company may issue in the future.

The Company is authorized to issue 10,000,000 Series A Cumulative, Convertible Preferred Shares (Preferred Stock) at $.0001 par value per share. During the period from inception (March 24, 2015) through December 31, 2016, the Company issued 2,000,000 shares of preferred stock at $.05 per share to Ventureo, LLC in exchange for $50,000 in cash and Phone Apps with a fair market value of $50,000 for a total of $100,000. The shares of “Preferred Stock” are convertible, at the option of the holder, into shares of common stock at a conversion price of $0.005 per share. The holder of the “Preferred Stock” may not convert any portion of the “Preferred Stock” if, after giving effect to such conversion, the holder would beneficially own in excess of 4.99%, except that the holder may, by written notice to the Company, increase or decrease this percentage up to a maximum of 9.99%, provided that any such increase will not be effective until the 61st day after such notice is delivered to the Company. Upon a liquidation event, the Company shall first pay to the holders of the “Preferred Stock” an amount per share equal to the Original Issue Price (i.e., $0.05 per share of Series A Preferred Stock), plus all accrued and unpaid dividends on each share of Series A Preferred Stock (the “Series A Preference Amount”). After full payment of the liquidation preference amount to the holders of the “Preferred Stock,” the Company will then distribute the remaining assets to holders of common stock, other junior preferred shares (if any) and the “Preferred Stock” on an as-if-converted-basis. The Series A Preferred Stock ranks senior to the Company’s common stock and senior to any other shares of preferred stock the Company may issue in the future.

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.

During 2021, the Company converted 1,400 shares of Preferred Stock into 350,000 shares of Common Stock.

Capital Contributions

Brian Kupchik, President, and CEO made no capital contributions during the ~~quarters~~periods ended ~~March~~June 3130, 2024 and ~~March~~June 3130, 2023.

APPSOFT TECHNOLOGIES~~, INC.~~

NOTES TO THE (UNAUDITED) FINANCIAL STATEMENTS

AS OF ~~MARCH~~JUNE 3130, 2024

NOTE F – INCOME TAX

The 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.

ASC 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 ~~March~~June 3130, 2024 is approximately $~~969~~983,~~860~~600 and as of ~~March~~June 3130, 2023 is $~~923~~946,~~600~~100 approximately. The total deferred tax assets are approximately $~~204~~207,000 and $~~194~~199,000 for the periods ended ~~March~~June 3130, 2024 and 2023, respectively.

No 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:

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.

NOTE G--NOTES PAYABLE AND NOTE EXCHANGE AGREEMENT

The total amount of the Notes Payable is $~~405.643~~417,243 and bears interest at 2% per year. Interest expense for the periods ended ~~March~~June 3130, 2024 and 2023 were $14,~~984~~051 and $13,~~704~~573, respectively. Total accrued interest as of ~~March~~June 3130, 2024 is $2931,~~824~~593.

Detail of the Notes Payable is as follows:

2018 Notes Payable

2018 Principal and Interest were consolidated into promissory note in the amount of $160,314. The note bears interest at 2% per year.

On 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.

In 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.

Although 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.

2019 Notes Payable

In 2019 an additional $42,106 was incurred in promissory notes. The note bears interest at 2% per year.

APPSOFT TECHNOLOGIES~~, INC.~~

NOTES TO THE (UNAUDITED) FINANCIAL STATEMENTS

AS OF ~~MARCH~~JUNE 3130, 2024

NOTE G--NOTES PAYABLE AND NOTE EXCHANGE AGREEMENT—CONT’D

BGS Drawdown Promissory Note

On 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.

· During the year 2020, $38,800 of the drawdown was borrowed. · During the year 2021, $62,721 of the drawdown was borrowed. · During the year 2022, $24,775 of the drawdown was borrowed. · During the year 2023, $63,827 of the drawdown was borrowed. · During the 1st quarter of 2024, $13,100 of the drawdown was borrowed. · During the 2nd quarter of 2024, $11,600 of the drawdown was borrowed.

As of ~~March~~June 3130, 2024, the Company has borrowed an aggregate of $~~203~~214,~~223~~823 from BGS under the Drawdown Note and the sum of $~~196~~185,~~777~~177 remains available for advances thereunder.

NOTE H—WRITE-OFF OF PAYABLES

During the 1st quarter 2023, management ~~has~~ asked legal counsel to render an opinion with respect to the collectability of an outstanding Payable carried on the books since July 2015. Reference: Laws governing the statute of limitations relating to contractual obligations in Nevada are set forth in Title 2, Civil Practice, Chapter 11, of the Nevada Revised Statutes (“NRS”), entitled “Limitations of Actions,” comprising NRS 11.190 through NRS 11.250.

With respect to contractual obligations, under Nevada law, a plaintiff must commence an action permitted at law within the specific time period allotted under Chapter 11 of the NRS. If the action is not brought within the allotted time period, the defendant may assert a defense that the of limitations. The statute of limitations is an affirmative defense in which the defendant introduces evidence, which, if found to be credible, will negate criminal or civil liability, even if it is proven that the defendant committed the alleged acts. The party raising the affirmative defense has the burden of proof on establishing that it applies. In a civil action in which a creditor demands payment on a written instrument evidencing a debt, the successful assertion of the statute of limitations defense will bar collection of the debt. In order to assert the statute of limitations as a defense, a defendant must specifically assert the defense in its answer. If a defendant fails to specifically plead the defense, it will be deemed to be waived. Since no action to enforce such liabilities was brought before December 31, 2022, it is our opinion that the Liability is time-barred from collection under the laws of Nevada and may be removed from the Company’s current balance sheet.

Given the foregoing, the following existing liabilities would be time barred by the statute of limitations:

Nature of Liability	Amount	Date Created	Written Instrument	Maturity Date		Date on ~~whichStatute~~which ~~ofLimitations~~Statute of Limitations Expired
Accounts payable	$7.,900	July 2015	Engagement Letter	None	July 2021	~~July 2021~~

APPSOFT TECHNOLOGIES~~, INC.~~

NOTES TO THE (UNAUDITED) FINANCIAL STATEMENTS

AS OF ~~MARCH~~JUNE 3130, 2024

NOTE H—WRITE-OFF OF PAYABLES CONT’D

Therefore, the Company made the decision to write-off the Payable totaling $7,900. As of ~~March~~June 3130, 2023, the write-off of the $7,900 resulted in a Gain on Extinguishment of Debt which was reported on the Statement of Operations for the year ended December 31, 2022 —per ASC Section 470-50-40. ASC Section 470-50-40 (Debt Modification and Extinguishments), considers the extinguishment of the debt to an unrelated party results in a Gain on Extinguishment of Debt which has been reported on the Statement of Operations.

NOTE I—MATERIAL EVENTS/SUBSEQUENT EVENTS

Since the close of the period covered by the financial statements of which these notes form a part, the following material transactions have occurred:

Subsequent Events

InThe ~~May~~Company evaluated for subsequent events from June 30, 2024 through August 15, 2024 (the issuance date of the Company’s ~~drew~~financial ~~down~~statements) ~~$10,100~~and ~~under~~has determined that the ~~drawdown~~only ~~note,~~subsequent ~~After~~event ~~the~~that ~~draw~~has ~~down,~~occurred ~~there~~is ~~remains~~the additional $~~186~~8,~~677~~300 ~~available~~drawn ~~under~~from the ~~draw~~BGS ~~down~~Drawdown ~~note~~Note.

The Company evaluated for subsequent events through the issuance date of the Company’s financial statements and, except as described above, has determined no subsequent events have occurred.

Material Events

On October 17, 2022, BGS agreed to extend the maturity date of the Drawdown note to December 31, 2024. On January 1, 2023, BGS increased the Drawdown Note agreement from $150,000 to $400,000.

ITEM 2. MANAGEMENT’'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

Forward Looking Statements

The following discussion and analysis of our financial condition and results of operations should be read in conjunction with our financial statements and related notes appearing elsewhere in this Quarterly Report on Form 10-Q, or Report.

The information in this discussion and elsewhere in this Report contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Such statements are based upon current expectations that involve risks and uncertainties. Any statements contained herein that are not statements of historical fact may be deemed to be forward-looking statements. For example, the words “may,” “will,” “believe,” “anticipate,” “plan,” “expect,” “intend,” “could,” “estimate,” “continue” and similar expressions or variations identify forward-looking statements.

Although we believe that we have a reasonable basis for each forward-looking statement contained in this Report, we caution you that these statements are based on a combination of facts and factors currently known by us and our projections of the future, about which we cannot be certain. We caution you that forward-looking statements are not guarantees of future performance and that our actual results of operations, financial condition and liquidity, and the development of the industry in which we operate may differ materially from the forward-looking statements contained in this Report. Factors that might cause such a discrepancy include, but are not limited to:

· Our ability to obtain financing as and when needed on acceptable terms. · Our failure to develop or acquire and publish new Apps that achieve market acceptance or we do not continue to enhance our existing Apps. · Our inability to maintain a good relationship with the markets where our Apps are distributed. · Our ability to develop our eSports business and generate revenue from sales, sponsorships, merchandise and advertiser supporter content; · Our inability to keep pace with technological changes and market conditions in the Apps industry. · Our inability to compete against a wide range of companies that market Apps, many of which have significantly greater resources than we do. ~~· Our ability to obtain financing as and when needed on acceptable terms.~~

We caution readers not to place undue reliance on any forward-looking statements made by us, which speak only as of the date they are made. We disclaim any obligation, except as specifically required by law and the rules of the Securities and Exchange Commission, to publicly update or revise any such statements to reflect any change in our expectations or in events, conditions or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ from those set forth in the forward-looking statements.

Overview

We develop, publish and market Apps for smartphones and tablet devices ~~and own and operate Esportsreporter~~.~~com,~~ ~~a news channel for esports enthusiasts.~~ We derive revenue from sales, or downloads, of our Apps and from advertisements published on our ad-supported game titles ~~and from advertisements published on Esportsreporter~~.~~com.~~ During the quarter ended ~~March~~June 3130, 2024, we did not generate any revenue. During ~~the period~~2023, we ~~focused~~explored ~~our~~new game development ~~efforts~~ideas onand ~~our~~other ~~esports~~aspects ~~segments~~of video game reporting. Over the course of 2024, we ~~will~~expect ~~seek~~ to generate revenue from the sale of software titles that we are developing ~~through~~for our ~~Gamerfy~~own ~~App~~account, ~~development~~from ~~website~~titles that were developed by third-parties which we acquired and from ~~paid~~titles ~~advertisements~~that ~~published~~have onbeen ~~Esportsreporter~~developed for our benefit.~~com~~ Operating margins are dependent in part upon our ability to release new, commercially successful software products and to manage effectively their development costs. We also expect to generate revenue from our eSports business as we seek to re-launch ~~the~~Esports ~~site~~Reporter with more focus on video gameplay.

Our Apps titles include games designed to appeal to a broad cross section of consumers. We offer all of our game titles in both a free advertisement-supported version and a paid version that does not display ads. We believe that the ad supported versions allow for wider dissemination of our titles to consumers who might not otherwise spend money for an App without first playing the game.

We market, sell and distribute our games through as Apple’s App Store, a direct-to-consumer digital storefront. We currently expect to advertise our Apps through the digital storefronts, our own website, social media, such as Facebook and LinkedIn, through mobile ad networks and search engine optimization, or SEO, tools.

We expect to develop and acquire new Apps to expand our existing product offerings, as our resources permit. We rely on third party designers, developers and programs to develop new Apps. We also solicit ideas for new titles from unrelated parties. We evaluate prospects based on a variety of factors. If we conclude that a particular prospect is worth pursuing, we may fund the development of the App through launch and beyond.

We have been growing our Esports efforts from a simple news site to in-depth interviews with current and former champions, and now we are moving into video gameplay content.

We have been constrained in our development and acquisition activities by a lack of cash. Our ability to pursue and achieve our objectives is predicated on our receipt of meaningful revenue from sales of our existing Apps and those we may release in the future and from our ability to raise capital from outside sources.

Growth Strategies and Outlook

Our principal growth strategy entails developing and acquiring new Apps to supplement our existing Apps portfolio. Our primary focus will be to release new game titles. We seek to solicit new games and concepts that we may acquire from third parties. We also will seek to develop and publish free-to-play games. Free-to-play games are games that a player can download and play for free, but which allow players to access a variety of additional content and features for a fee, through “in-app purchases” utilizing virtual currency that may be purchased through digital storefronts, and to engage with various advertisements and offers that generate revenues for us. We may seek to acquire franchises around which we develop games, including movies, television programs, toys and other cultural phenomena that lend themselves to gamification.

During the first quarter of 2022, we launched a video game incubator, Gamerfy.com, which will seek to acquire and commercialize the next generation of game titles with particular focus on community play, the Metaverse and NFT’s, each of which would allow us to sell into rapidly growing market segments. We expect Gamerfy to be the principal source of new games for us for the foreseeable future. We have identified a heuristics ~~process~~ for investment decisions and have identified key professionals for employment and as executive members of Gamerfy.

During the second quarter of 2021, we launched Esportsreporter.com, a news channel for a broad spectrum of esports and gaming. We are currently building a following on digital media and expect to monetize the site and our audience utilizing an array of proven techniques, including generating revenue from sales, sponsorships, merchandise, and advertiser supported content. We expect to direct a significant percentage of our capital resources on Esportsreporter.com during 2023. We continue to invest in Esportreporter.com, mainly in video gameplay and expect to continue to direct capital and employment resources into 2024.

Our revenues will depend significantly on growth in the mobile games market and our ability to develop or acquire and publish Apps that are well-received by consumers. In addition, because our products are purchased with disposable income, our success is dependent on the overall strength of the economy in the United States. We expect to invest resources in research and development, analytics and marketing to introduce new Apps and continue to update our existing Apps, and to the extent that Apps into which we have invested significant capital are not successful, our business and financial condition could be harmed. We operate in an environment that is extremely competitive for users against a continually increasing number of developers, many of which are significantly larger than us and have other competitive advantages. We expect to allocate a material portion of our operating revenue and capital that we receive to sales and marketing initiatives in connection with the launch and promotion of our games in an effort to drive sales.

Our ability to achieve and sustain profitability will depend not only on our ability to generate meaningful our revenues, but also on our ability to manage our operating expenses. Currently, we have one full-time employee, who receives compensation when and as determined by the Board. For the foreseeable further, we expect to utilize the services of independent contractors and consultants, who we believe are readily available for our purposes, in order to manage our personnel costs. We also will continue to maintain a virtual office as long as our operations permit us to do so to ~~control~~contain our office space overhead.

We require significant additional capital to fund the development of ~~new~~ Apps ~~and~~in toprocess ~~enhance~~that ~~our~~we ~~Esportsreporter~~have ~~site~~developed ~~and~~internally or acquired from third parties during the last year. We also require capital to ~~promote~~fund marketing initiatives for our existing products and the launch and marketing of Apps in development. We cannot be sure that the additional capital we require will be available on acceptable terms or at all. If adequate funds are not available on acceptable terms or at all, we may be unable to develop or enhance our services and products, take advantage of future opportunities, repay debt obligations as they become due, or respond to competitive pressures, any of which would have a material adverse effect on our business, prospects, financial condition, and results of operations.

Results of Operations for the Three Months Ended ~~March~~June 3130, 2024 Compared to the Three Months Ended ~~March~~June 3130, 2023 (unaudited)

~~During~~The ~~the~~following ~~quarters~~table ~~ended~~presents ~~March~~our ~~31,~~results ~~2024~~of ~~and 2023, the Company did not engage in substantive business~~ operations, ~~did~~for ~~not generate any revenue and had minimal assets. During~~ the ~~fiscal~~three ~~year~~months ended ~~March~~June 3130, 2024, ~~the Company incurred operating expenses of $14,986, consisting principally of professional fees in connection with satisfying its reporting obligations under federal securities law~~ and ~~interest expenses, and suffered a net loss of $14,986, as compared to the year ended March 31,~~ 2023 ~~in which the Company incurred operating expenses of $27,068 and suffered a net loss of $27,068.~~:

Liquidity and Capital Resources

	Three Months Ended June 30,
	2024			2023
Revenue	$			$	-

Expenses
Selling, General and Administrative		2,362			4,379
Interest Expense		2,067			1,863
Outside Services		260			890
Professional Fees		9,050			15,400
Total Expenses		13,739			22,532
Net loss from operations	$	(13,739	)	$	(22,532	)

~~Liquidity~~Results ~~is the ability~~ of aOperations ~~company~~for tothe ~~generate~~Six ~~adequate~~Months ~~amounts~~Ended ofJune ~~cash to support its current and future operations~~30, ~~satisfy~~2024 ~~its~~Compared ~~obligations,~~to ~~and otherwise operate on an ongoing basis. Significant factors in~~ the ~~management~~Six ofMonths ~~liquidity~~Ended ~~are~~June ~~funds generated by operations~~30, ~~the~~2023 ~~availability of credit facilities, levels of accounts receivable and accounts payable and capital expenditures~~(unaudited).

~~Our~~The ~~primary~~following ~~requirements~~table ~~for~~presents ~~liquidity~~our ~~and~~results ~~capital are to fund the development and acquisition~~ of ~~new~~operations ~~Apps, to develop and promote our Esports platform,~~ for ~~sales and marketing initiatives in connection with~~ the ~~launch~~six ~~and~~months ~~promotion~~ended ofJune ~~our~~30, ~~games~~2024 and ~~platforms, and for working capital to fund our general corporate needs, including filing reports under the federal securities laws.~~2023:

Since our customers pay for their purchases by credit or debit card at the time of sale, neither inventories nor receivables are relevant to our business.

	Six Months Ended June 30,
	2024			2023
Revenue	$	-		$	-

Expenses
Selling, General and Administrative		4,619			5,787
Interest Expense		4,051			3,573
Outside Services		260			1,865
Professional Fees		19,800			38,380
Total Expenses		28,730			49,605
Net loss from operations	$	(28,730	))	$	(49,605	)

~~Since~~Liquidity ~~our inception, we have financed our operations through the sale of equity securities, from third party loans~~ and ~~from~~Capital ~~internally generated revenue from operations.~~Resources

AsOur primary requirements for liquidity and capital are to fund the development and acquisition of ~~March~~new 31Apps, ~~2024~~to develop and promote our Esports platform, wefor ~~had~~sales aand ~~working~~marketing ~~capital~~initiatives ~~deficit~~in connection with the launch and promotion of ~~$29,418,~~our ~~compared~~games toand aplatforms, and for working capital ~~deficit~~to offund ~~$27,831~~our atgeneral ~~December~~corporate 31needs, ~~2023~~including filing reports under the federal securities laws.

During the three months ended March 31, 2024, we borrowed an aggregate of $13,100 under a drawdown promissory note that entitles us to borrow up to $400,000, which bears interest at the rate of 2% per year borrowings and which matures on December 31, 2027. As of March 31, 2024, we had borrowed an aggregate of $203,223 under the drawdown and the sum of $196,777 remains available for advances.15

WeSince ~~do not have any cash on hand and we have not generated meaningful cash flow from operations sufficient to support~~ our ~~operations.~~customers Aspay ~~described~~for ~~above,~~their wepurchases ~~have~~by been borrowing cash to fund our operations. We require significant cash to effectuate all of our desired game development and Esports platform strategies. We will continue to rely on borrowings from third party loans. However, our future operations are dependent on our ability to secure significant additional financing. Financing transactions may include the issuance of equity or debt securities, obtaining credit ~~facilities~~ or ~~through~~debit ~~other~~card ~~financing mechanisms. However, we cannot assure investors that we will be able to secure such financing on terms favorable to us, if~~ at ~~all. Even if we are able to raise~~ the ~~funds~~time ~~required,~~of ~~it is possible that we could incur unexpected costs and expenses~~sale, ~~fail~~neither toinventories ~~collect~~nor ~~significant~~receivables ~~amounts~~are ~~owed~~relevant to us, or experience unexpected cash requirements that would force us to seek alternative financing. Furthermore, if we issue additional equity or debt securities, stockholders may experience additional dilution or the new equity securities may have rights, preferences or privileges senior to those of existing holders of our ~~common stock. The inability to obtain additional capital may continue to restrict our ability to grow and may reduce our ability to continue to conduct~~ business ~~operations~~. ~~If we are unable to obtain additional financing, we may have to curtail our marketing and development plans and possibly cease our operations.~~

15Since our inception, we have financed our operations through the sale of equity securities, from third party loans and from internally generated revenue from operations.

~~Cash~~As ~~Flows:~~of June 30, 2024, we had a working capital deficit of $31,856, compared to a working capital deficit of $27,831 at December 31, 2023.

~~Operating~~During ~~Activities~~the three months ended June, 2024, we borrowed an aggregate of $24,700 under a drawdown promissory note that entitles us to borrow up to $400,000, which bears interest at the rate of 2% per year borrowings and which matures on December 31, 2027. During the six months ended June, 2024, we borrowed an aggregate of $48,827 under the drawdown note As of June 30, 2024, we had borrowed an aggregate of $214,823 under the drawdown and the sum of $185,177 remains available for advances.

We ~~used~~do ~~net~~not have any cash ~~used~~on inhand ~~operating~~and ~~activities~~we ~~for~~have ~~the~~not ~~three~~generated ~~months~~cash ~~ended~~flow ~~March~~from 31operations sufficient to support our operations. As described above, ~~2024~~we have been borrowing cash to fund our operations. We require significant cash to effectuate all of ~~$13,100~~our ~~compared~~desired game development and Esports platform strategies. We will continue to ~~$16~~rely on borrowings from third party loans. However,~~023~~ ~~for~~our future operations are dependent on our ability to secure significant additional financing. Financing transactions may include the ~~2023~~issuance ~~period~~of equity or debt securities, inobtaining ~~each~~credit ~~case~~facilities ~~consisting~~or ~~principally~~through ofother ~~payments~~financing mechanisms. However, we cannot assure investors that we will be able to ~~outside~~secure ~~consultants~~such financing on terms favorable to us, ~~developers~~if ~~and~~at ~~programmers~~all. ~~and~~Even ~~payments~~if we are able to ~~web~~raise ~~hosting~~the funds required, it is possible that we could incur unexpected costs and ~~email~~expenses, ~~hosting~~fail ~~providers.~~to ~~The~~collect ~~decrease~~significant inamounts owed to us, or experience unexpected cash ~~used~~requirements inthat ~~operating~~would ~~activities~~force ~~was~~us to seek alternative financing. Furthermore, if we issue additional equity or debt securities, stockholders may experience additional dilution or the ~~result~~new equity securities may have rights, preferences or privileges senior to those of existing holders of our ~~limited~~common ~~cash~~stock. ~~resources~~The inability to ~~deploy~~obtain additional capital may continue to restrict our ability to grow and may reduce our ability to continue to conduct business operations. If we are unable to obtain additional financing, we may have to curtail our marketing and development plans and possibly cease our operations.

~~Financing~~Cash ~~Activities~~Flows:

~~During~~The ~~the~~following ~~three~~table ~~months~~presents ~~ended~~summary ~~March 31, 2024, net~~ cash ~~provided~~flow by financing activities was $13,100 compared to $16,023 during the 2023 period. In each year, financing was provided by loans to the Company. We utilized all of the proceeds that we received from the borrowings for working capital.information:

Contractual Commitments as of March 31, 2023

	For the six months ended June 30, 2024			For the six months ended June 30, 2023

Net cash used in operating activities	$	(24,673	)	$	(48,818	)
Net cash used in investing activities
Net cash provided by financing activities		24,673			44,827
Net increase (decrease) in cash	$	27		$	9

AsContractual ofCommitments ~~March 31, 2024, the Company had no contractual obligations,~~ as ~~such term is defined in Item 303~~ of ~~Regulation~~June ~~S-K promulgated under the Securities Act of 1933~~30, ~~as amended.~~2024

~~Going~~As ~~Concern~~of June 30, 2024, the Company had no contractual obligations (as such term is defined in Item 303 of Regulation S-K promulgated under the Securities Act), other than the loans from Empire State Financial Inc., Bryan Glass Securities, Inc. and their related parties as described above under the heading “—Liquidity and Capital Resources.”

The notes to our financial statements for the quarter ended March 31, 2024 and the report of our independent registered public accounting firm on our financial statements for the year ended December 31, 2023 include an explanatory paragraph with respect to our ability to continue as a going concern. As reflected in the accompanying financial statements, the Company has a deficit accumulated of $969,860 at March 31, 2024. The 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 pay its liabilities arising from normal business operations when they come due. The accompanying financial statements do not include any adjustments that might arise because of this uncertainty16

~~The~~Going presence of the going concern explanatory paragraph suggests that we may not have sufficient liquidity, or minimum cash levels, to operate our business. Since our inception, we have incurred losses and anticipate that we will continue to incur losses until such time as our Apps generate sufficient revenue to offset our research and development, general and administrative and sales and marketing expenses. We will need to raise additional capital to fund our near-term operational plans described elsewhere in this report. We cannot assure you that we will be successful in our operational plans. We cannot be sure that the additional capital we require will be available on acceptable terms or at all. If adequate funds are not available on acceptable terms or at all, we may be unable to develop or enhance our services and products, take advantage of future opportunities, repay debt obligations as they become due, or respond to competitive pressures, any of which would have a material adverse effect on our business, prospects, financial condition, and results of operations.Concern

~~Off-Balance~~The ~~Sheet~~notes to our financial statements for the quarter ended June 30, 2024 and ~~Other~~the ~~Arrangements~~report of our independent registered public accounting firm on our financial statements for the year ended December 31, 2023 include an explanatory paragraph with respect to our ability to continue as a going concern. As reflected in the accompanying financial statements, the Company has a deficit accumulated of $946,137 and cash used in operations of $48,818 at June 30, 2024. The 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 pay its liabilities arising from normal business operations when they come due. The accompanying financial statements do not include any adjustments that might arise because of this uncertainty

WeThe dopresence of the going concern explanatory paragraph suggests that we may not ~~engage~~have sufficient liquidity, or minimum cash levels, to operate our business. Since our inception, we have incurred losses and anticipate that we will continue to incur losses until such time as our Apps generate sufficient revenue to offset our research and development, general and administrative and sales and marketing expenses. We will need to raise additional capital to fund our near-term operational plans described elsewhere in ~~any~~this ~~activities~~report. ~~involving~~We ~~variable~~cannot ~~interest~~assure ~~entities~~you that we will be successful in our operational plans. We cannot be sure that the additional capital we require will be available on acceptable terms or ~~off-balance~~at ~~sheet~~all. ~~arrangements~~If adequate funds are not available on acceptable terms or at all, we may be unable to develop or enhance our services and products, take advantage of future opportunities, repay debt obligations as they become due, or respond to competitive pressures, any of which would have a material adverse effect on our business, prospects, financial condition, and results of operations.

~~Inflation~~Off-Balance Sheet and Other Arrangements

We do not ~~believe~~engage ~~that~~in ~~inflation~~any ~~has~~activities ~~had~~involving avariable ~~material~~interest ~~effect~~entities ~~on our business, financial condition~~ or ~~results~~off-balance ofsheet ~~operations~~arrangements. If our costs were to become subject to significant inflationary pressures, we might not be able to fully offset these higher costs through price increases. Our inability or failure to do so could harm our business, operating results and financial condition.

~~Critical~~Inflation ~~Accounting Policies and Use of Estimates~~

~~The~~We ~~discussion~~do ~~and~~not ~~analysis~~believe ofthat ~~financial~~inflation ~~condition~~has ~~and~~had ~~results~~a ofmaterial ~~operations~~effect ~~are~~on ~~based~~our ~~upon the Company’s financial statements~~business, ~~which have been prepared in accordance with generally accepted accounting principles in the United States. The preparation of these condensed consolidated~~ financial ~~statements~~condition ~~requires~~or ~~estimates~~results ~~and assumptions that affect the reported amounts~~ of ~~assets, liabilities, sales and expenses, and related disclosure of contingent assets and liabilities~~operations. OnIf ~~an ongoing basis,~~ our ~~management~~costs ~~evaluates~~were ~~its~~to ~~estimates~~become ~~based~~subject ~~upon historical experience and various other assumptions that it believes~~ to besignificant ~~reasonable~~inflationary ~~in the circumstances~~pressures, ~~the~~we ~~results~~might ofnot ~~which~~be ~~form~~able ~~the~~to ~~basis~~fully ~~for~~offset ~~making~~these ~~judgments~~higher ~~about~~costs ~~the~~through ~~carrying~~price ~~values~~increases. ofOur ~~assets~~inability ~~and~~or ~~liabilities~~failure ~~that~~to ~~are~~do ~~not~~so ~~readily~~could ~~apparent~~harm ~~from~~our ~~other~~business, ~~sources.~~operating ~~Actual~~ results ~~may~~and ~~differ~~financial ~~from these estimates~~condition.

16Critical Accounting Policies and Use of Estimates

The ~~Company~~discussion ~~believes~~and ~~that~~analysis ~~its~~of ~~significant~~financial ~~accounting~~condition ~~policies~~and ~~affect~~results ~~its~~of ~~more~~operations ~~significant~~are ~~estimates~~based ~~and~~upon ~~judgments~~the ~~used~~Company’s financial statements, which have been prepared in accordance with generally accepted accounting principles in the United States. The preparation of ~~its~~these condensed consolidated financial statements. ~~Our~~requires ~~significant~~estimates ~~accounting~~and ~~policies~~assumptions ~~are~~that ~~described~~affect inthe ~~Note~~reported Camounts toof assets, liabilities, sales and expenses, and related disclosure of contingent assets and liabilities. On an ongoing basis, our ~~audited~~management ~~financial~~evaluates ~~statements~~its ~~included~~estimates based upon historical experience and various other assumptions that it believes to be reasonable in ~~our~~the ~~annual~~circumstances, ~~report~~the onresults ~~Form~~of ~~10-K~~which ~~for~~form the ~~period~~basis ~~ended~~for ~~December~~making ~~31,~~judgments ~~2023.~~about Wethe docarrying ~~not~~values ~~believe~~of ~~that~~assets ~~there~~and ~~has~~liabilities ~~been~~that ~~any~~are ~~significant~~not ~~change~~readily inapparent ~~the~~from ~~Company’s~~other ~~critical~~sources. ~~accounting~~Actual ~~policies~~results ~~since~~may ~~December~~differ ~~31,~~from ~~2023~~these estimates.

~~Recent~~The ~~Accounting~~Company ~~Pronouncements~~believes that its significant accounting policies affect its more significant estimates and judgments used in the preparation of its consolidated financial statements. Our significant accounting policies are described in Note C to our audited financial statements included in our annual report on Form 10-K for the period ended December 31, 2023. We do not believe that there has been any significant change in the Company’s critical accounting policies since December 31, 2023.

~~Emerging~~Recent ~~Growth Company Critical~~ Accounting Policy Disclosure: We qualify as an “emerging growth company” under the 2012 JOBS Act. Section 107 of the JOBS Act provides that an emerging growth company can take advantage of the extended transition period provided in Section 7(a)(2)(B) of the Securities Act for complying with new or revised accounting standards. As an emerging growth company, we can delay the adoption of certain accounting standards until those standards would otherwise apply to private companies. We have elected to take advantage of the benefits of this extended transition period.Pronouncements

~~See~~Emerging ~~Note~~Growth CCompany toCritical Accounting Policy Disclosure: We qualify as an “emerging growth company” under the ~~financial~~2012 ~~statements~~JOBS ~~furnished~~Act. ~~with~~Section ~~this~~107 ~~report~~of ~~for~~the JOBS Act provides that an emerging growth company can take advantage of the extended transition period provided in Section 7(a)(2)(B) ~~discussion~~of the Securities Act for complying with new or revised accounting standards. As an emerging growth company, we can delay the adoption of ~~recent~~certain accounting ~~pronouncements~~standards ~~that~~until ~~had~~those astandards ~~material~~would ~~effect~~otherwise onapply to private companies. We have elected to take advantage of the ~~financial~~benefits ~~statements~~of ~~presented~~this ~~herein~~extended transition period.

See Note C to the financial statements furnished with this report for a discussion of recent accounting pronouncements that had a material effect on the financial statements presented herein.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURE ABOUT MARKET RISK

We are a smaller reporting company as defined by Rule 12b-2 of the Securities Exchange Act of 1934 and are not required to provide the information under this item.

ITEM 4. CONTROLS AND PROCEDURES.

Evaluation of Disclosure Controls and Procedures

Our management is responsible for establishing and maintaining a system of disclosure controls and procedures (as defined in Rule 13a-15(e)) under the Exchange Act) that is designed to ensure that information required to be disclosed by the Company in the reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported, within the time specified in the Commission’'s rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed by an issuer in the reports that it files or submits under the Exchange Act is accumulated and communicated to the issuer’'s management, including its principal executive officer or officers and principal financial officer or officers, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure. However, a control system, no matter how well conceived and operated, can provide only reasonable, not absolute, assurance that the objectives of the control system are met. Because of the inherent limitations in all controls systems, no evaluation of controls can provide absolute assurance that all control issues and instances of fraud, if any, within a company have been detected. Our disclosure controls and procedures are designed to provide reasonable assurance of achieving its objectives.

Pursuant to Rule 13a-15(b) under the Exchange Act, the Company carried out an evaluation with the participation of the Company’s management performed an evaluation, under the supervision and with the participation of the Company’s Chief Executive Officer, who is the Company’s principal executive officer and principal financial officer and who we refer to herein as our PEO, of the effectiveness of the Company’s disclosure controls and procedures (as defined under Rule 13a-15(e) under the Exchange Act) as of the quarter ended ~~March~~June 3130, 2024. Based upon that evaluation, the Company’s PEO concluded that the Company’'s disclosure controls and procedures were not effective as of ~~March~~June 3130, 2024 due to the Company’s limited internal resources and lack of ~~ability~~financial resources resulting in an inability to ~~have~~provide for multiple levels of transaction review.

Management is in the process of determining how best to address this condition and implement a more effective system to ensure that information required to be disclosed in this quarterly report on Form 10-Q has been recorded, processed, summarized and reported accurately. Our management acknowledges the existence of this problem, and intends to developed procedures to address them to the extent possible given limitations in financial and manpower resources. While management is working on a plan, no assurance can be made at this point that the implementation of such controls and procedures will be completed in a timely manner or that they will be adequate once implemented.

Changes in Internal Controls

There have been no changes in our internal control over financial reporting during the quarter ended ~~March~~June 3130, 2024 that have materially affected, or are reasonably likely to materially affect, our internal controls over financial reporting.

1718

PART II—--OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

There are presently no pending legal proceedings to which the Company is a party or as to which any of its property is subject, and no such proceedings are known to the Company to be threatened or contemplated against it.

ITEM 1A. RISK FACTORS

We are a smaller reporting company as defined by Rule 12b-2 of the Securities Exchange Act of 1934, as amended, and are not required to provide the information required under this item.

ITEM 2. - UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

Since the date on which the Company filed its annual report on Form 10-K for the year ended December 31, 2023 and through the date of this quarterly report, the Company did not sell or issue any securitiesNone.

ITEM 3. - DEFAULTS UPON SENIOR SECURITIES

None.

ITEM 4.- MINE SAFETY DISCLOSURES

Not applicable.

ITEM 5. - OTHER INFORMATION

None.

1819

ITEM 6. - EXHIBITS.

Exhibit		Description
31.1		Certification of the Company’s Principal Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002, with respect to the registrant’s Quarterly Report on Form 10-Q for the quarter ended ~~March~~June 3130, 2024.
31.2		Certification of the Company’s Principal Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002, with respect to the registrant’s Quarterly Report on Form 10-Q for the quarter ended ~~March~~June 3130, 2024.
32.1*		Certification of the Company’s Principal Executive Officer and Principal Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes Oxley Act of 2002.
101.INS		Inline XBRL Instance Document
101.SCH		Inline XBRL Taxonomy Extension Schema Document
101.CAL		Inline XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF		Inline XBRL Taxonomy Extension Definition Linkbase Document
101.LAB		Inline XBRL Taxonomy Extension Label Linkbase Document
101.PRE		Inline XBRL Taxonomy Extension Presentation Linkbase Document
104		Cover Page Interactive Data File (formatted as inline XBRL and contained in Exhibit 101).

In accordance with Item 601 of Regulation S-K, this Exhibit is hereby furnished to the SEC as an accompanying document and is not deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that Section, nor shall it be deemed incorporated by reference into any filing under the Securities Act of 1933.

1920

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	APPSOFT TECHNOLOGIES, INC.
Date: May 21, 2024	By:	/s/ Brian Kupchik
Date: August 16, 2024	By:	/s/ Brian Kupchik
	Name:	Brian Kupchik
	Title:	President, Principal Executive Officerand Principal Financial Officer

2021

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