SEC Info - Appsoft Technologies, Inc. - ‘10-Q’ for 6/30/21

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Appsoft Technologies, Inc. – ‘10-Q’ for 6/30/21

On: Monday, 8/16/21, at 4:36pm ET · For: 6/30/21 · Accession #: 1477932-21-5611 · File #: 333-206764

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 8/16/21  Appsoft Technologies, Inc.        10-Q        6/30/21   39:1.6M                                   Discount Edgar/FA

Quarterly Report — Form 10-Q

Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-Q        Quarterly Report                                    HTML    280K 
 2: EX-10.23    Drawdown Promissory Note                            HTML     26K 
 3: EX-10.24    Amendment to Drawdown Promissory Note               HTML     16K 
 4: EX-31.1     Certification -- §302 - SOA'02                      HTML     17K 
 5: EX-31.2     Certification -- §302 - SOA'02                      HTML     17K 
 6: EX-32.1     Certification -- §906 - SOA'02                      HTML     12K 
13: R1          Cover                                               HTML     67K 
14: R2          Balance Sheets                                      HTML     76K 
15: R3          Balance Sheets (Parenthetical)                      HTML     30K 
16: R4          Statement of Operations                             HTML     57K 
17: R5          Statement of Cash Flows                             HTML     52K 
18: R6          Statement of Stockholders' Equity                   HTML     33K 
19: R7          Business Activity                                   HTML     15K 
20: R8          Going Concern                                       HTML     16K 
21: R9          Summary of Significant Accounting Policies          HTML     29K 
22: R10         Segment Reporting                                   HTML     19K 
23: R11         Capital Stock                                       HTML     19K 
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                (Policies)                                                       
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30: R18         Summary of Significant Accounting Policies          HTML     18K 
                (Details Narrative)                                              
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33: R21         Notes Payable and Note Exchange Agreement (Details  HTML     48K 
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‘10-Q’ — Quarterly Report

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U.S. SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM i 10-Q

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

For the quarterly period ended: i June 30, 2021

i ☐ 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: i 333-206764

i APPSOFT TECHNOLOGIES, INC.

(Name of Small Business Issuer in its charter)

i Nevada

i 47-3427919

(State or other jurisdiction

of Identification No.)

(I.R.S. Employer

incorporation or organization)

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

Address of registrant's principal executive offices

( i 516) i 224-7717

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
i common stock, par value $0.001 per share		i 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. ☒ i 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). ☒ i Yes ☐ No

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company.

Large accelerated filer	☐	Accelerated filer	☐
i Non-accelerated filer	☐	Smaller reporting company	i ☒
		Emerging Growth Company	i ☒

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. i ☐

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

At August 16, 2021, there were i 4,153,103 shares of common stock outstanding.

PART I — FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS

AppSoft Technologies, Inc.

Balance Sheets

	As of			As of
	June 30, 2021			December 31, 2020
CURRENT ASSETS
Cash	$	i 682		$	i 6
TOTAL CURRENT ASSETS		i 682			i 6
FIXED ASSETS
Computer Equipment, net		i -			i 207
TOTAL FIXED ASSETS		i -			i 207

TOTAL ASSETS	$	i 682		$	i 213

LIABILITIES
CURRENT LIABILITIES
Accounts Payable and Accruals		i 38,232			i 38,232
Accrued Interest		i 10,931			i 8,400
TOTAL CURRENT LIABILITIES		i 49,163			i 46,632

Note Payable		i 262,953			i 241,220
TOTAL LIABILITIES		i 312,116			i 287,852

COMMITMENTS AND CONTINGENCIES	$	i -		$	i -

STOCKHOLDER'S EQUITY
Series A Cumulative, Convertible Preferred stock ($ i 0.0001 par value; i 10,000,000 shares authorized; i 1,936,000 and i 1,937,400 shares issued and outstanding at June 30, 2021 and December 31, 2020, respectively)	$	i 193		$	i 194
Common stock ($ i 0.0001 par value; i 1,000,000,000 shares authorized; i 4,504,103 and i 4,154,103 shares issued and outstanding at June 30, 2021 and December 31, 2020, respectively)		i 449			i 414
Additional Paid in Capital		i 491,458			i 491,492
Additional Paid in Capital - Stock Warrants		i 42,400			i 42,400
Accumulated Deficit		( i 845,934	)		( i 822,139	)
TOTAL STOCKHOLDER'S EQUITY (DEFICIT)		( i 311,434	)		( i 287,639	)
TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY/(DEFICIT)	$	i 682		$	i 213

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

AppSoft Technologies, Inc.

Statements of Operations

	For the three months ended June 30,
	2021			2020

Sales	$	i -		$	i -
Total Revenue	$	i -		$	i -

EXPENSES:
Selling, General and Administrative		i 3,311			i -
Amortization/Depreciation Expense		i 104			i 104
Interest Expense		i 232			i 1,073
Outside Services		i 6,923			i -
Professional Fees		i 585			i 17,026
Total Expense		i 11,155			i 18,203
Loss from operations	$	( i 11,155	)	$	( i 18,203	)
Provision for Income Taxes	$	i -		$	i -
NET LOSS		( i 11,155	)		( i 18,203	)
Weighted average common shares outstanding, basic and fully diluted		i 4,311,795			i 4,154,103

Basic and fully diluted net loss per common share:	$	( i 0.00	)	$	( i 0.00	)

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

AppSoft Technologies, Inc.

Statements of Operations

	For the six months ended June 30,
	2021			2020

Sales	$	i -		$	i -
Total Revenue	$	i -		$	i -

EXPENSES:
Selling, General and Administrative		i 7,074			i 2,321
Amortization/Depreciation Expense		i 207			i 208
Interest Expense		i 2,530			i 2,111
Outside Services		i 13,149			i -
Professional Fees		i 835			i 17,026
Total Expense		i 23,795			i 21,666
Loss from operations	$	( i 23,795	)	$	( i 21,666	)
Provision for Income Taxes	$	i -		$	i -
NET LOSS		( i 23,795	)		( i 21,666	)
Weighted average common shares outstanding, basic and fully diluted		i 4,233,385			i 4,154,103

Basic and fully diluted net loss per common share:	$	( i 0.01	)	$	( i 0.01	)

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

AppSoft Technologies, Inc.

Statements of Cash Flows

	For the six months ended June 30,
	2021			2020
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$	( i 23,795	)	$	( i 21,666	)

Amortization and Depreciation		i 207			i 208
Adjustments to reconcile net (loss)
to net cash provided by (used in) operations:
Changes in Assets and Liabilities:
Increase (decrease) in Accounts Payable and Other Accruals		i -			i 3,186
Increase (decrease) in Accrued Interest Expense		i 2,531			i 2,111
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES		( i 21,057	)		( i 16,161	)
CASH FLOWS TO/(FROM) FINANCING ACTIVITIES:
Note Payable - borrowings		i 21,733			i 16,161
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES		i 21,733			i 16,161

NET INCREASE(DECREASE) IN CASH AND CASH EQUIVALENTS		i 676			i -

CASH AND CASH EQUIVALENTS,
BEGINNING OF THE PERIOD		i 6			i 6

END OF THE PERIOD	$	i 682		$	i 6

*SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:*
*CASH PAID DURING THE PERIOD FOR:*
Interest	$	i -		$	i -
Taxes	$	i -		$	i -

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

AppSoft Technologies, Inc.

Statement of Stockholders' Equity

For the six months ended

June 30, 2021

Additional

Common Stock

Preferred Stock

Additional

Paid-in Capital

Shares

Amount

Shares

Amount

Paid-in

Capital

Stock Warrants

Accumulated

Deficit

Total

Equity

Balances, January 1, 2021

i 4,154,103

i 414

i 1,937,400

i 194

i 491,492

i 42,400

( i 822,139

)

( i 287,639

)

Preferred Shares Converted to Common Shares

i 350,000

i 35

( i 1,400

)

( i 1

)

( i 34

)

i -

Net Loss

i -

( i 23,795

)

( i 23,795

)

Balances, June 30, 2021

i 4,504,103

i 449

i 1,936,000

i 193

i 491,458

i 42,400

( i 845,934

)

( i 311,434

)

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

AppSoft Technologies, Inc.

Statement of Stockholders' Equity

For the six months ended

June 30, 2020

Additional

Common Stock

Preferred Stock

Additional

Paid-in Capital

Shares

Amount

Shares

Amount

Paid-in

Capital

Stock Warrants

Accumulated

Deficit

Total

Equity

Balances, January 1, 2020

i 4,154,103

i 414

i 1,937,400

i 194

i 491,492

i 42,400

( i 775,332

)

( i 240,832

)

Net Loss

i -

( i 21,666

)

( i 21,666

)

Balances, June 30, 2020

i 4,154,103

i 414

i 1,937,400

i 194

i 491,492

i 42,400

( i 796,998

)

( i 262,498

)

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

APPSOFT TECHNOLOGIES

NOTES TO THE UNAUDITED FINANCIAL STATEMENTS

AS OF JUNE 30, 2021

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.

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 $ i 845,934 and cash used in operations of $ i 21,057 at the period ended June 30, 2021.

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, 2020.

Cash and Cash Equivalents- For 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 of 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 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

NOTES TO THE UNAUDITED FINANCIAL STATEMENTS

AS OF JUNE 30, 2021

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 i 1,937,400 upon conversion of preferred stock as June 30, 2021.

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 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 June 30, 2021 and 2020 the balance in Accounts Receivable was $ i 0 and $ i 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 June 30, 2021 and 2020.

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.

APPSOFT TECHNOLOGIES

NOTES TO THE UNAUDITED FINANCIAL STATEMENTS

AS OF JUNE 30, 2021

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

The three levels of fair value hierarchy 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 June 30, 2021 and 2020.

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 June 30, 2021, 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 June 30, 2021 and 2020.

Recently Issued Accounting Pronouncements

January 2019, the FASB issued ASU 2016-02, Leases (Topic 842) – ASU 2016-02 requires that a lessee recognize the assets and liabilities that arise from operating leases. A lessee should recognize, in the statement of financial position, a liability to make lease payments (the lease liability) and a right-of-use asset representing its right to use the underlying asset for the lease term. For leases with a term of twelve months or less, a lessee is permitted to make an accounting policy election by class of underlying asset not to recognize lease assets and lease liabilities. In transition, lessees and lessors are required to recognize and measure leases at the beginning of the earliest period presented using a modified retrospective approach. Public business entities should apply the amendments in ASU 2016-02 for fiscal years beginning after December 15, 2018 with a one-year deferral for Emerging Growth Companies, including interim periods within those fiscal years (i.e., January 1, 2019, for a calendar year entity). Early application is permitted for all public business entities and all non-public business entities upon issuance. The adoption of this standard did not have a material impact on the Company’s financial position and results of operations.

In December 2019, the FASB issued ASU No. 2019-12, “Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (“ASU 2019-12”), which is intended to simplify various aspects related to accounting for income taxes. ASU 2019-12 removes certain exceptions to the general principles in Topic 740 and also clarifies and amends existing guidance to improve consistent application. This guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020, with early adoption permitted. The Company is currently evaluating the impact of this standard on its consolidated financial statements and related 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 June 30, 2021 and 2020.

APPSOFT TECHNOLOGIES

NOTES TO THE UNAUDITED FINANCIAL STATEMENTS

AS OF JUNE 30, 2021

NOTE E-CAPITAL STOCK

The Company is authorized to issue i 1,000,000,000 Common Shares at $ i .0001 par value per share.

Total issued and outstanding shares of common stock is i 4,504,103 and i 4,154,103 as of June 30, 2021 and 2020, respectively.

Total issued and outstanding shares of preferred stock is i 1,936,000 and i 1,937,400 as of June 30, 2021 and 2020, respectively.

The Company is authorized to issue i 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 i 2,000,000 shares of preferred stock at $.05 per share to Ventureo, LLC in exchange for $ i 50,000 in cash and Phone Apps with a fair market value of $ i 50,000 for a total of $ i 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 $ i 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 i 4.99%, except that the holder may, by written notice to the Company, increase or decrease this percentage up to a maximum of i 9.99%, provided that any such increase will not be effective until the 61^st 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 $ i 0.005 per share to $ i 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 the 2^nd Quarter 2021, the Company converted i 1,400 shares of Preferred Stock into i 350,000 shares of Common Stock.

Capital Contributions

Brian Kupchik, President and CEO made no capital contributions during the twelve months ended June 30, 2021 and 2020.

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, i the Company has net operating loss carry forwards that expire through 2030. The net operating loss carry forward as of June 30, 2021 is approximately $ i 846,000 and as of June 30, 2020 is $ i 797,000 approximately. The total deferred tax asset is approximately $ i 178,000 and $ i 167,000 for the periods ended June 30, 2021 and 2020, respectively.

APPSOFT TECHNOLOGIES

NOTES TO THE UNAUDITED FINANCIAL STATEMENTS

AS OF JUNE 30, 2021

NOTE F – INCOME TAX—CONT’D

No tax benefit has been reported in the financial statements because after evaluating our own potential tax uncertainties, i 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 i 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

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 $ i 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 $ i 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.

The total amount of the Notes Payable is $ i 262,953 and bears interest at i 2% per year. Interest expense for the six-month period ended June 30, 2021 and 2020 is $ i 2,530 and $ i 2,111, respectively. Total accrued interest as of June 30, 2021 is $ i 10,931.

Detail of the Notes Payable is as follows:

· 2018 Principal and Interest consolidated into new promissory note in the amount of $160,314.

· During the 1st Quarter 2019, the Company incurred an additional $ i 14,640 in Notes Payable.

· During the 2nd Quarter 2019, the Company incurred an additional $ i 14,769 in Notes Payable.

· During the 3rd Quarter 2019, the Company incurred an additional $ i 1,526 in Notes Payable.

· During the 4th Quarter 2019, the Company incurred an additional $ i 11,171 in Notes Payable.

As of June 30, 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 $ i 150,000 during the 2020 and 2021 calendar years (the “Drawdown Note”). The original drawdown amount was $50,000, but has been increased to $ i 150,000 in 2021 – see Note I below. 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 i 2% per year.

During the year 2020, $ i 38,799 of the drawdown was borrowed.

During the 1^st quarter 2021, $ i 11,048 of the drawdown was borrowed.

During the 2^nd quarter 2021, $ i 10,685 of the drawdown was borrowed.

As of June 30, 2021, the Company has borrowed an aggregate of $ i 60,532 from BGS under the Drawdown Note and the sum of $ i 89,468 remains available for advances thereunder.

APPSOFT TECHNOLOGIES

NOTES TO THE UNAUDITED FINANCIAL STATEMENTS

AS OF JUNE 30, 2021

NOTE H—FIXED ASSETS

In July 2016, the Company purchased computer equipment for $ i 2,079. The computer equipment will be depreciated over its estimated useful life of i 5 years. Annual depreciation is $ i 416. Depreciation expense was $ i 207 and $ i 208 for the six months ended June 30, 2021 and June 30, 2020, respectively. Accumulated Depreciation is $ i 2,079 and $ i 1,664 as of June 30, 2021 and June 30,2020.

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:

On April 2, 2021, an amendment to the original Drawdown Promissory note was issued. Under the original Drawdown Note, the Company was extended up to $ i 50,000 in credit at a rate of i 2% per year. Under the amendment, the total drawdown amount has been increased from $50,000 to $ i 150,000.

Subsequent Events

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

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 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.

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

AppSoft Technologies, Inc., a Nevada corporation organized on March 24, 2015 (“we,” “us,” or the “Company”), develops, publishes and markets mobile software applications for smartphones and tablet devices (“Apps”). 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 direct-to-consumer digital storefronts, which currently comprises Apple’s App Store and the Google Play Store. We currently or 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 derive our revenue primarily from sales, or downloads, of our Apps and from advertisements published on our ad supported game titles.

We are seeking to develop and acquire new Apps to expand our existing product offerings. 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.

During the second quarter of 2021, we launched an Esports/E-gaming platform which we refer to as Esportsreporter.com. Esportsreporter.com is a leading news channel for all things esports and gaming. Publishing the most relevant breaking news for esports and gaming, including coverage of industry trends and guides on the business of esports and gaming for investors and aspiring esports and gaming professionals. We have been covering the most important news in esports every day while also diving deeper with coverage of events with live reporters as well as conducting face to face and virtual interviews with professional players in the space. Esports is growing faster than ever with millions of gamers, millions of viewers, and millions of dollars in prizes. From what once seemed like a small, niche market, the esports industry is now among the fastest-growing in the world. Accordingly, we believe now is an ideal time to bring all esports and gaming news into one platform to leverage the growth of this global audience and maximize user engagement through Esportreporter.com.

In addition to becoming a leading source of esports news, Esportsreporter.com has its own editorial and digital content creation team that will continue to publish fresh original content covering the latest trends from the esports and gaming industry. We currently staff numerous qualified journalist and editorial gamers, as well as social media expert/ gamers, and video editors, graphic designers, and production engineers – all also gamers. Our platform is quickly becoming one of the highest trafficking eSports news sites, with a heavy and popular presence in the gaming and eSports communities via content both article and video, and social media, on its way toward becoming a major broadcaster of eSports tournaments and gaming events, with its own large in-house family of avid content creators.

The content we create includes: recording clips of tournaments for montages, similar to highlights of a major sports game.

Recording clips of professional streamers for montages, a very popular genre of content that YouTube and now Netflix are offering as their own channels, which we hope to emulate on in the near future. Videos recording our own staff explaining latest game patches, eSport team news/drama, new game trailers, new game features. Turning personal streams into montages for the site and channel.

We will have reporters attending the important upcoming events, including Play NYC, and have interviewed top Game Team Players. As capital permits, we will continue to grow and add more high caliber interviews as well as emerging game coverage and reviews, indie games still undiscovered, peripherals and gaming hardware systems, streaming video gameplay, competitive, walkthrough as well as industry technical topics.

We are currently building a following on digital media that will generate revenue from sales, sponsorships, or merchandise from our fanbase and advertisers published on our ad supported content.

Over the last decade, mobile devices, including smartphone and tablets, have proliferated extensively around the world across a wide range of demographic groups. The Apps industry has experienced corresponding growth in the number of downloads, the number and types of Apps published. We believe that there will continue to be an increase in the number of smartphones and tablets sold. In addition, technological advances to these devices, including more powerful smartphones and tablets with larger screens provide a platform for more diverse Apps and make games more fun and visually appealing. We believe that technological developments will continue to drive growth in our industry for the foreseeable future.

Growth Strategies and Outlook

Over the next several periods, we expect to focus our efforts on the development of our Esports/E-gaming platforms. eSports have become popular worldwide, not only with participants but also with fans who watch them online and in public spaces, including arenas. According to Newzoo, an online statistics gathering and dissemination portal, in 2019, there were 245 million casual viewers and 198 million enthusiasts, making the total audience 443 million. By 2023, Newzoo predicts that the annual growth rate will be approximately 10.4%.

We will continue to seek to develop and acquire new Apps to supplement our existing Apps portfolio. Our primary focus will be to release new game titles. We are seeking to develop a pipeline of independent game designers, developers and programmers who provide us with new ideas and titles to publish. We also are soliciting new games and concepts that we may acquire from third parties. We 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 they 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.

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.

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 revenues further depend on maintaining our continued good relationship with the digital storefront operators, primarily Apple and Google, each of which could unilaterally alter their terms of service in ways that could harm our business.

Our ability to achieve and sustain profitability will depend not only on our ability to grow 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 of directors. 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 to contain our office space overhead.

Over the last several quarters, our growth has been constrained by our lack of capital. We require additional capital to fund the development of Apps in process that we have developed internally or acquired from third parties. We also require capital to fund marketing initiatives for our existing products and to launch and market 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.

During the year ended December 31, 2018, we recognized an impairment of our phone apps and esports gaming platform and wrote off all of their carrying, or book, value from our financial statements resulting in a loss in the aggregate amount of $45,500. We wrote off these assets because, as of December 31, 2018, we determined that their carrying value exceeded their fair value (the amount at which the assets could be sold in a negotiated transaction between two willing parties) and was not recoverable, meaning that we were uncertain that the future cash flow we might generate from these assets would be equal to the book value that we ascribed to these assets in our financial statements. Despite writing off these assets, upon the receipt of sufficient capital, of which there is no assurance, we intend to continue their development with the expectation that we will make them available for purchase by way of the consumer digital storefronts through which we offer our products.

Results of Operations for the Three Months Ended June 30, 2021 Compared to the Three Months Ended June 30, 2021 (unaudited)

The following table presents our results of operations for the three months ended June 30, 2021 and 2020:

	Three Months Ended June 30,
	2021			2020
Revenue	$			$	-

Expenses
Selling, General and Administrative		3,311			-
Amortization/Depreciation Expense		104			104
Interest Expense		232			1,073
Outside Services		6,923			-
Professional Fees		585			17,026
Total Expenses		11,155			18,203
Net loss from operations	$	(11,155	)		(18,203	)

Results of Operations for the Six Months Ended June 30, 2021 Compared to the Six Months Ended June 30, 2020.

The following table presents our results of operations for the six months ended June 30, 2021 compared to the six months ended June 30, 2020:

	Six Months Ended June 30,
	2021			2020
Revenue	$	-		$	-

Expenses
Selling, General and Administrative		7,074			2,321
Amortization/Depreciation Expense		207			208
Interest Expense		2,530			2,111
Outside Services		13,149			-
Professional Fees		835			17,026
Total Expenses		23,795	)		21,666	)
Net loss from operations	$	(23,795	)	$	(21,666	)

Liquidity and Capital Resources

Liquidity is the ability of a company to generate adequate amounts of cash to support its current and future operations, satisfy its obligations, and otherwise operate on an ongoing basis. Significant factors in the management of liquidity are funds generated by operations, the availability of credit facilities, levels of accounts receivable and accounts payable and capital expenditures.

As of June 30, 2021, we had working capital deficit of $48,481, compared to working capital deficit of $46,626 at December 31, 2020.

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

Over the last several years, we have been borrowing cash from ESFI and its related parties to fund our operations in part. During the six months ended June 30, 2021, we borrowed an aggregate of $262,953 from Bryan Glass Securities, Inc. and its related parties (“BGS”). The loans from BGS are evidenced by a promissory note that matures on December 31, 2021 and bear interest at the rate of 2% per year.

In March 2020, we entered into a Drawdown Promissory Note with Bryan Glass Securities, Inc., which we amended in April 2021, that allows us to draw down up to $150,000 in advances. The advances under the drawdown note bear interest at the rate of 2% per year and the note is payable on December 31, 2022. As of June 30, 2021, $89,648 remained available for advances to the Company as drawdowns under this note.

Our primary requirements for liquidity and capital are to fund the development of Esports platform, and the development and acquisition of new Apps and for sales and marketing initiatives in connection with the launch and promotion of our games, as well as for working capital to fund our general corporate needs, including filing reports under the federal securities laws. We work with independent game designers, developers and programmers who provide us with new ideas and titles to publish. We also are soliciting new games and concepts that we may acquire from third parties.

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.

Our cash on hand and cash flow from operations are not sufficient to fund our existing operations or support our desired development and acquisition strategy or required in connection with launching, marketing and promoting our games. Over the last twelve months, we have been using the proceeds from loans to fund our operations. We are seeking to identify meaningful sources of capital to fund the entire range of our operations and development activities, though we cannot provide any assurance that we will identify any such sources of capital. Financing transactions may include the issuance of equity or debt securities, obtaining credit facilities or through other financing mechanisms. Even if we are able to raise the funds required, it is possible that we could incur unexpected costs and expenses 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 will continue to constrain our operations, including App development and marketing, and restrict our ability to grow. If we are unable to obtain additional financing, we may possibly have to cease our operations.

Cash Flows:

The following table presents summary cash flow information.

	For the six months ended June 30, 2021			For the six months ended June 30, 2020

Net cash used in operating activities	$	(21,057	)	$	(16,161	)
Net cash used in investing activities		—			—
Net cash provided by financing activities		21,733			16,161
Net increase (decrease) in cash	$	676		$	—

Contractual Commitments as of June 30, 2021

As of June 30, 2021, the Company had no contractual obligations, as such term is defined in Item 303 of Regulation S-K promulgated under the Securities Act of 1933, as amended.

Going Concern

The notes to our financial statements for the quarter ended June 30, 2021 and the report of our independent registered public accounting firm on our financial statements for the year ended December 31, 2019 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 $796,998 at June 30, 2021. 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

The 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.

Off-Balance Sheet and Other Arrangements

We do not engage in any activities involving variable interest entities or off-balance sheet arrangements.

Inflation

We do not believe that inflation has had a material effect on our business, financial condition or results of operations. 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 Accounting Policies and Use of Estimates

The discussion and analysis of financial condition and results of operations are based upon the Company’s financial statements, which have been prepared in accordance with generally accepted accounting principles in the United States. The preparation of these condensed consolidated financial statements requires estimates and assumptions that affect the reported amounts of assets, liabilities, sales and expenses, and related disclosure of contingent assets and liabilities. On an ongoing basis, our management evaluates its estimates based upon historical experience and various other assumptions that it believes to be reasonable in the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates.

The Company 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, 2019. We do not believe that there has been any significant change in the Company’s critical accounting policies since December 31, 2019.

Recent Accounting Pronouncements

Emerging 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.

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.

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 June 30, 2021. Based upon that evaluation, the Company’s PEO concluded that the Company's disclosure controls and procedures were not effective as of June 30, 2021 due to the Company’s limited internal resources and lack of ability to have 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 June 30, 2021 that have materially affected, or are reasonably likely to materially affect, our internal controls over financial reporting.

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

None.

ITEM 3 - DEFAULTS UPON SENIOR SECURITIES

None.

ITEM 4- MINE SAFETY DISCLOSURES

Not applicable.

ITEM 5 - OTHER INFORMATION

None.

ITEM 6 - EXHIBITS.

Exhibit		Description
10.23		Drawdown Promissory Note dated March 31, 2020

10.24		Amendment to Drawdown Promissory Note dated April 2, 2021.

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 June 30, 2021.

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 June 30, 2021.

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		XBRL Instance Document

101.SCH		XBRL Taxonomy Extension Schema Document

101.CAL		XBRL Taxonomy Extension Calculation Linkbase Document

101.DEF		XBRL Taxonomy Extension Definition Linkbase Document

101.LAB		XBRL Taxonomy Extension Label Linkbase Document

101.PRE		XBRL Taxonomy Extension Presentation Linkbase Document

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.

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: August 16, 2021	By:	/s/ *Brian Kupchik*
	Name:	Brian Kupchik
	Title:	President, Principal Executive Officer and Principal Financial Officer

Dates Referenced Herein and Documents Incorporated by Reference

This ‘10-Q’ Filing	Date	Other Filings

	12/31/22
	12/31/21	10-K
Filed on:	8/16/21
For Period end:	6/30/21
	4/2/21
	1/1/21
	12/31/20	10-K, NT 10-K
	12/15/20
	6/30/20	10-Q
	1/1/20
	12/31/19	10-K
	1/1/19
	12/31/18	10-K, NT 10-K
	12/15/18
	12/4/18
	11/30/18
	12/31/16	10-K, 10-K/A, NT 10-K
	3/24/15
	5/28/14
		List all Filings

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Filing Submission 0001477932-21-005611 – Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

Appsoft Technologies, Inc. – ‘10-Q’ for 6/30/21

On: Monday, 8/16/21, at 4:36pm ET · For: 6/30/21 · Accession #: 1477932-21-5611 · File #: 333-206764

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Quarterly Report — Form 10-QFiling Table of Contents

‘10-Q’ — Quarterly Report

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Dates Referenced Herein and Documents Incorporated by Reference

Quarterly Report — Form 10-Q

Filing Table of Contents