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APPlife Digital Solutions Inc (ALDS0.00%). has submitted its 10-Q filing for the quarterly period ended December 31, 2024.
The filing includes financial statements for the quarter, showing a revenue of $1,135, a decrease from $1,944 in the same quarter the previous year. The decrease is attributed to reduced marketing efforts in 2024 compared to 2023.
Operating expenses for the quarter totaled $200,894, resulting in an operating loss of $200,020, compared to $592,495 in the previous year. The decrease in operating loss is primarily due to reduced stock compensation expenses.
Other income and expenses resulted in a net expense of $18,735, compared to a net income of $112,864 in the previous year. This change was influenced by interest expenses and changes in the fair value of derivative liabilities.
Net loss for the quarter was $218,755, compared to $479,631 in the previous year.
For the six months ended December 31, 2024, revenue was $2,103, down from $5,798 in the previous year. Operating losses for the same period were $373,378, compared to $1,177,804 in the previous year.
The company reported a net loss of $403,179 for the six-month period, compared to $1,151,097 in the previous year.
As of December 31, 2024, APPlife Digital Solutions had total assets of $258,423 and total liabilities of $2,521,770, resulting in a stockholders' deficit of $2,263,347.
The company continues to face challenges related to its going concern status, with minimal revenue-generating operations and an accumulated deficit of $22,338,179 as of December 31, 2024.
The filing also details various financial agreements, including notes payable to shareholders and convertible notes, with a total outstanding balance of $1,416,823 as of December 31, 2024.
APPlife Digital Solutions is exploring new projects and acquisitions to enhance revenue streams, including a proposed reverse merger with a private company, which is expected to be a significant future event for the company.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the APPlife Digital Solutions Inc quarterly 10-Q report dated February 13, 2025. To report an error, please email earnings@qz.com.