10-Q Filing

APPlife Digital Solutions Inc CIK: 1755101 Q3 2020

Filing Information

Form Type	10-Q
Accession Number	`0001445866-20-000612`
Period End Date	20200331
Filing Date	20200513
Fiscal Year	2020
Fiscal Period	Q3
XBRL Instance	alds-20200331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 53 Income Statement 60 Cash Flow Statement 74 Stockholders Equity 34

Balance Sheet 53 line items

Line Item	Tag	Value	Unit	Period
Common Stock, par or stated value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common Stock, par or stated value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash	`Cash`	$70.64K	USD	Point-in-time
Cash	`Cash`	$11.49K	USD	Point-in-time
Common Stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Common Stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Cash	`Cash`	$65.65K	USD	Point-in-time
Cash	`Cash`	$120.36K	USD	Point-in-time
Common Stock, shares issued	`CommonStockSharesIssued`	124.79M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	-	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$62.52K	USD	Point-in-time
Common Stock, shares issued	`CommonStockSharesIssued`	119.06M	shares	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	119.06M	shares	Point-in-time
Inventory	`InventoryNet`	-	USD	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	124.79M	shares	Point-in-time
Inventory	`InventoryNet`	$37.45K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$7.57K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	-	USD	Point-in-time
Total current assets	`AssetsCurrent`	$65.65K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$227.91K	USD	Point-in-time
Equity method investment	`Investments`	$514.69K	USD	Point-in-time
Equity method investment	`Investments`	-	USD	Point-in-time
Total assets	`Assets`	$580.35K	USD	Point-in-time
Total assets	`Assets`	$227.91K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$85.28K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$78.70K	USD	Point-in-time
Due to Smartrade Exchange Services, Inc.	`DueToRelatedPartiesCurrent`	$1.14K	USD	Point-in-time
Due to Smartrade Exchange Services, Inc.	`DueToRelatedPartiesCurrent`	$61.03K	USD	Point-in-time
Notes payable	`NotesPayableCurrent`	$70.62K	USD	Point-in-time
Notes payable	`NotesPayableCurrent`	$455.62K	USD	Point-in-time
Due to officer	`DueToOfficersOrStockholdersCurrent`	$6.43K	USD	Point-in-time
Due to officer	`DueToOfficersOrStockholdersCurrent`	$9.58K	USD	Point-in-time
Common stock payable	`CommonStockPayable`	$55.00K	USD	Point-in-time
Common stock payable	`CommonStockPayable`	$80.42K	USD	Point-in-time
Derivative liability	`DerivativeLiabilitiesCurrent`	-	USD	Point-in-time
Derivative liability	`DerivativeLiabilitiesCurrent`	$248.16K	USD	Point-in-time
Derivative liability	`DerivativeLiabilitiesCurrent`	$19.82K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$326.75K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$845.03K	USD	Point-in-time
Common stock, $0.001 par value, 500,000,000 shares authorized; 124,787,531 and 119,059,674 shares issued and outstanding as of March 31, 2020 and June 30, 2019, respectively	`CommonStockValue`	$124.79K	USD	Point-in-time
Common stock, $0.001 par value, 500,000,000 shares authorized; 124,787,531 and 119,059,674 shares issued and outstanding as of March 31, 2020 and June 30, 2019, respectively	`CommonStockValue`	$119.06K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$3.70M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$1.80M	USD	Point-in-time
Accumulated (deficit)	`RetainedEarningsAccumulatedDeficit`	$-4.44M	USD	Point-in-time
Accumulated (deficit)	`RetainedEarningsAccumulatedDeficit`	$-1.66M	USD	Point-in-time
Total stockholders' (deficit) equity	`StockholdersEquity`	$253.59K	USD	Point-in-time
Total stockholders' (deficit) equity	`StockholdersEquity`	$337.15K	USD	Point-in-time
Total stockholders' (deficit) equity	`StockholdersEquity`	$-87.59K	USD	Point-in-time
Total stockholders' (deficit) equity	`StockholdersEquity`	$447.97K	USD	Point-in-time
Total stockholders' (deficit) equity	`StockholdersEquity`	$-617.12K	USD	Point-in-time
Total stockholders' (deficit) equity	`StockholdersEquity`	$-504.06K	USD	Point-in-time
Total liabilities and stockholders' (deficit) equity	`LiabilitiesAndStockholdersEquity`	$227.91K	USD	Point-in-time
Total liabilities and stockholders' (deficit) equity	`LiabilitiesAndStockholdersEquity`	$580.35K	USD	Point-in-time

Income Statement 60 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$1.31K	USD	1 Quarter
Revenues	`Revenues`	-	USD	3 Qtrs
Revenues	`Revenues`	$1.46K	USD	3 Qtrs
Revenues	`Revenues`	-	USD	1 Quarter
Cost of goods sold	`CostOfRevenue`	$222.00	USD	3 Qtrs
Cost of goods sold	`CostOfRevenue`	-	USD	1 Quarter
Cost of goods sold	`CostOfRevenue`	$83.00	USD	1 Quarter
Cost of goods sold	`CostOfRevenue`	-	USD	3 Qtrs
Gross profit	`GrossProfit`	-	USD	1 Quarter
Gross profit	`GrossProfit`	$1.24K	USD	3 Qtrs
Gross profit	`GrossProfit`	$1.23K	USD	1 Quarter
Gross profit	`GrossProfit`	-	USD	3 Qtrs
Operating expenses	`OperatingCostsAndExpenses`	$928.72K	USD	3 Qtrs
Operating expenses	`OperatingCostsAndExpenses`	$512.95K	USD	1 Quarter
Operating expenses	`OperatingCostsAndExpenses`	$2.11M	USD	3 Qtrs
Operating expenses	`OperatingCostsAndExpenses`	$467.86K	USD	1 Quarter
Impairment of equity method investment	`ImpairmentOfInvestments`	-	USD	1 Quarter
Impairment of equity method investment	`ImpairmentOfInvestments`	$500.06K	USD	3 Qtrs
Impairment of equity method investment	`ImpairmentOfInvestments`	-	USD	3 Qtrs
Impairment of equity method investment	`ImpairmentOfInvestments`	-	USD	1 Quarter
Loss from equity method investment	`IncomeLossFromEquityMethodInvestments`	$-14.64K	USD	3 Qtrs
Loss from equity method investment	`IncomeLossFromEquityMethodInvestments`	-	USD	1 Quarter
Loss from equity method investment	`IncomeLossFromEquityMethodInvestments`	$-10.59K	USD	3 Qtrs
Loss from equity method investment	`IncomeLossFromEquityMethodInvestments`	$-10.59K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$478.45K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$2.62M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$939.31K	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$512.95K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-939.31K	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-2.62M	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-478.45K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-511.72K	USD	1 Quarter
Interest expense	`InterestExpense`	$4.62K	USD	3 Qtrs
Interest expense	`InterestExpense`	$557.00	USD	1 Quarter
Interest expense	`InterestExpense`	$45.22K	USD	1 Quarter
Interest expense	`InterestExpense`	$113.38K	USD	3 Qtrs
Change in fair value of derivative liability	`GainLossOnSaleOfDerivatives`	-	USD	3 Qtrs
Change in fair value of derivative liability	`GainLossOnSaleOfDerivatives`	-	USD	1 Quarter
Change in fair value of derivative liability	`GainLossOnSaleOfDerivatives`	$-32.69K	USD	1 Quarter
Change in fair value of derivative liability	`GainLossOnSaleOfDerivatives`	$-50.32K	USD	3 Qtrs
Net loss before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-479.00K	USD	1 Quarter
Net loss before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-2.78M	USD	3 Qtrs
Net loss before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-589.63K	USD	1 Quarter
Net loss before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-943.93K	USD	3 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	3 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	3 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net (loss)	`ProfitLoss`	$-589.63K	USD	1 Quarter
Net (loss)	`ProfitLoss`	$-2.78M	USD	3 Qtrs
Net (loss)	`ProfitLoss`	$-943.93K	USD	3 Qtrs
Net (loss)	`ProfitLoss`	$-479.00K	USD	1 Quarter
Basic and diluted (loss) per share	`EarningsPerShareBasicAndDiluted`	$-0.02	USD	1 Quarter
Basic and diluted (loss) per share	`EarningsPerShareBasicAndDiluted`	$-0.02	USD	1 Quarter
Basic and diluted (loss) per share	`EarningsPerShareBasicAndDiluted`	$-0.04	USD	3 Qtrs
Basic and diluted (loss) per share	`EarningsPerShareBasicAndDiluted`	$-0.09	USD	3 Qtrs
Average number of common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	33.70M	shares	1 Quarter
Average number of common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	24.90M	shares	3 Qtrs
Average number of common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	27.94M	shares	1 Quarter
Average number of common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	31.92M	shares	3 Qtrs

Cash Flow Statement 74 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-589.63K	USD	1 Quarter
Net loss	`ProfitLoss`	$-2.78M	USD	3 Qtrs
Net loss	`ProfitLoss`	$-943.93K	USD	3 Qtrs
Net loss	`ProfitLoss`	$-479.00K	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$73.08K	USD	3 Qtrs
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	-	USD	3 Qtrs
Issuance of common stock for services	`IssuanceOfCommonStockForServices`	$-20.47K	USD	3 Qtrs
Issuance of common stock for services	`IssuanceOfCommonStockForServices`	$-737.45K	USD	3 Qtrs
Issuance of common stock to employee	`IssuanceOfCommonStockToEmployee`	$-722.66K	USD	3 Qtrs
Issuance of common stock to employee	`IssuanceOfCommonStockToEmployee`	-	USD	3 Qtrs
Stock compensation expense	`ShareBasedCompensation`	$1.05M	USD	3 Qtrs
Stock compensation expense	`ShareBasedCompensation`	-	USD	3 Qtrs
Impairment of investment	`ImpairmentOfInvestments`	-	USD	1 Quarter
Impairment of investment	`ImpairmentOfInvestments`	$500.06K	USD	3 Qtrs
Impairment of investment	`ImpairmentOfInvestments`	-	USD	3 Qtrs
Impairment of investment	`ImpairmentOfInvestments`	-	USD	1 Quarter
Loss from equity method investment	`IncomeLossFromEquityMethodInvestments`	$-14.64K	USD	3 Qtrs
Loss from equity method investment	`IncomeLossFromEquityMethodInvestments`	-	USD	1 Quarter
Loss from equity method investment	`IncomeLossFromEquityMethodInvestments`	$-10.59K	USD	3 Qtrs
Loss from equity method investment	`IncomeLossFromEquityMethodInvestments`	$-10.59K	USD	1 Quarter
Common stock payable	`IncreasedecreaseinCommonStockPayable`	$-25.42K	USD	3 Qtrs
Common stock payable	`IncreasedecreaseinCommonStockPayable`	$15.00K	USD	3 Qtrs
Change in fair value of derivative liability	`GainLossOnSaleOfDerivatives`	-	USD	3 Qtrs
Change in fair value of derivative liability	`GainLossOnSaleOfDerivatives`	-	USD	1 Quarter
Change in fair value of derivative liability	`GainLossOnSaleOfDerivatives`	$-32.69K	USD	1 Quarter
Change in fair value of derivative liability	`GainLossOnSaleOfDerivatives`	$-50.32K	USD	3 Qtrs
Accounts Receivable	`IncreaseDecreaseInAccountsReceivable`	-	USD	3 Qtrs
Accounts Receivable	`IncreaseDecreaseInAccountsReceivable`	$7.57K	USD	3 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$62.52K	USD	3 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-10.00K	USD	3 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$37.45K	USD	3 Qtrs
Inventory	`IncreaseDecreaseInInventories`	-	USD	3 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$5.54K	USD	3 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-6.58K	USD	3 Qtrs
Net cash (used )in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-159.68K	USD	3 Qtrs
Net cash (used )in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-491.74K	USD	3 Qtrs
Investment in affiliate	`PaymentsForProceedsFromInvestments`	-	USD	3 Qtrs
Investment in affiliate	`PaymentsForProceedsFromInvestments`	$317.72K	USD	3 Qtrs
Net cash (used) in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-317.72K	USD	3 Qtrs
Net cash (used) in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	3 Qtrs
Proceeds from notes payable	`ProceedsFromNotesPayable`	$11.00K	USD	3 Qtrs
Proceeds from notes payable	`ProceedsFromNotesPayable`	$520.00K	USD	3 Qtrs
Payment on notes payable	`RepaymentsOfNotesPayable`	$9.51K	USD	3 Qtrs
Payment on notes payable	`RepaymentsOfNotesPayable`	$100.00K	USD	3 Qtrs
Payment on amounts due to Smartrade	`PaymentOnAmountsDueToSmartrade`	-	USD	3 Qtrs
Payment on amounts due to Smartrade	`PaymentOnAmountsDueToSmartrade`	$59.90K	USD	3 Qtrs
Payment on amounts due to officer	`PaymentOnAmountsDueToOfficer`	-	USD	3 Qtrs
Payment on amounts due to officer	`PaymentOnAmountsDueToOfficer`	$3.15K	USD	3 Qtrs
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$625.54K	USD	3 Qtrs
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$99.00K	USD	3 Qtrs
Net cash provided from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$536.54K	USD	3 Qtrs
Net cash provided from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$546.44K	USD	3 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashPeriodIncreaseDecrease`	$59.15K	USD	3 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashPeriodIncreaseDecrease`	$54.70K	USD	3 Qtrs
Cash and cash equivalents, beginning of period	`Cash`	$70.64K	USD	Point-in-time
Cash and cash equivalents, beginning of period	`Cash`	$11.49K	USD	Point-in-time
Cash and cash equivalents, beginning of period	`Cash`	$65.65K	USD	Point-in-time
Cash and cash equivalents, beginning of period	`Cash`	$120.36K	USD	Point-in-time
Cash and cash equivalents, end of period	`Cash`	$70.64K	USD	Point-in-time
Cash and cash equivalents, end of period	`Cash`	$11.49K	USD	Point-in-time
Cash and cash equivalents, end of period	`Cash`	$65.65K	USD	Point-in-time
Cash and cash equivalents, end of period	`Cash`	$120.36K	USD	Point-in-time
Conversion of notes payable to equity	`DebtConversionConvertedInstrumentAmount1`	-	USD	3 Qtrs
Conversion of notes payable to equity	`DebtConversionConvertedInstrumentAmount1`	-	USD	1 Quarter
Conversion of notes payable to equity	`DebtConversionConvertedInstrumentAmount1`	$5.12K	USD	3 Qtrs
Eliminate derivative liability upon repayment of debt	`EliminateDerivativeLiabilityUponRepaymentOfDebt`	-	USD	1 Quarter
Eliminate derivative liability upon repayment of debt	`EliminateDerivativeLiabilityUponRepaymentOfDebt`	-	USD	3 Qtrs
Eliminate derivative liability upon repayment of debt	`EliminateDerivativeLiabilityUponRepaymentOfDebt`	$13.59K	USD	3 Qtrs
Due to Smartrade Exchange Services, Inc.	`DueToSmartradeExchangeServicesInc.`	-	USD	3 Qtrs
Due to Smartrade Exchange Services, Inc.	`DueToSmartradeExchangeServicesInc.`	$118.00K	USD	3 Qtrs
Cash paid for interest	`InterestPaidNet`	-	USD	3 Qtrs
Cash paid for interest	`InterestPaidNet`	-	USD	3 Qtrs
Cash paid for taxes	`IncomeTaxesPaid`	-	USD	3 Qtrs
Cash paid for taxes	`IncomeTaxesPaid`	-	USD	3 Qtrs

Stockholders Equity 34 line items

Line Item	Tag	Value	Unit	Period
Stockholders' Equity Attributable to Parent, Beginning Balance	`StockholdersEquity`	$253.59K	USD	Point-in-time
Stockholders' Equity Attributable to Parent, Beginning Balance	`StockholdersEquity`	$337.15K	USD	Point-in-time
Stockholders' Equity Attributable to Parent, Beginning Balance	`StockholdersEquity`	$-87.59K	USD	Point-in-time
Stockholders' Equity Attributable to Parent, Beginning Balance	`StockholdersEquity`	$447.97K	USD	Point-in-time
Stockholders' Equity Attributable to Parent, Beginning Balance	`StockholdersEquity`	$-617.12K	USD	Point-in-time
Stockholders' Equity Attributable to Parent, Beginning Balance	`StockholdersEquity`	$-504.06K	USD	Point-in-time
Common stock issued for cash, value	`StockIssuedDuringPeriodValueNewIssues`	$625.54K	USD	3 Qtrs
Common stock issued for cash, value	`StockIssuedDuringPeriodValueNewIssues`	$2.00K	USD	1 Quarter
Common stock issued for cash, value	`StockIssuedDuringPeriodValueNewIssues`	$100.00K	USD	3 Qtrs
Common stock issued for cash, value	`StockIssuedDuringPeriodValueNewIssues`	$100.00K	USD	1 Quarter
Stock compensation	`AllocatedShareBasedCompensationExpense`	$351.56K	USD	1 Quarter
Stock compensation	`AllocatedShareBasedCompensationExpense`	$1.05M	USD	3 Qtrs
Common stock issued to employees, value	`StockIssuedDuringPeriodValueEmployeeBenefitPlan`	$722.66K	USD	3 Qtrs
Common stock issued to employees, value	`StockIssuedDuringPeriodValueEmployeeBenefitPlan`	$351.56K	USD	1 Quarter
Common stock issued for services, value	`StockIssuedDuringPeriodValueIssuedForServices`	$736.45K	USD	3 Qtrs
Common stock issued for services, value	`StockIssuedDuringPeriodValueIssuedForServices`	$25.00K	USD	1 Quarter
Common stock issued for services, value	`StockIssuedDuringPeriodValueIssuedForServices`	$20.47K	USD	3 Qtrs
Common stock issued for services, value	`StockIssuedDuringPeriodValueIssuedForServices`	$14.62K	USD	1 Quarter
Conversion of notes payable to equity, value	`DebtConversionConvertedInstrumentAmount1`	-	USD	3 Qtrs
Conversion of notes payable to equity, value	`DebtConversionConvertedInstrumentAmount1`	-	USD	1 Quarter
Conversion of notes payable to equity, value	`DebtConversionConvertedInstrumentAmount1`	$5.12K	USD	3 Qtrs
Eliminate derivative liability upon repayment of debt	`EliminateDerivativeLiabilityUponRepaymentOfDebt`	-	USD	1 Quarter
Eliminate derivative liability upon repayment of debt	`EliminateDerivativeLiabilityUponRepaymentOfDebt`	-	USD	3 Qtrs
Eliminate derivative liability upon repayment of debt	`EliminateDerivativeLiabilityUponRepaymentOfDebt`	$13.59K	USD	3 Qtrs
Net Loss	`ProfitLoss`	$-589.63K	USD	1 Quarter
Net Loss	`ProfitLoss`	$-2.78M	USD	3 Qtrs
Net Loss	`ProfitLoss`	$-943.93K	USD	3 Qtrs
Net Loss	`ProfitLoss`	$-479.00K	USD	1 Quarter
Stockholders' Equity Attributable to Parent, Ending Balance	`StockholdersEquity`	$253.59K	USD	Point-in-time
Stockholders' Equity Attributable to Parent, Ending Balance	`StockholdersEquity`	$337.15K	USD	Point-in-time
Stockholders' Equity Attributable to Parent, Ending Balance	`StockholdersEquity`	$-87.59K	USD	Point-in-time
Stockholders' Equity Attributable to Parent, Ending Balance	`StockholdersEquity`	$447.97K	USD	Point-in-time
Stockholders' Equity Attributable to Parent, Ending Balance	`StockholdersEquity`	$-617.12K	USD	Point-in-time
Stockholders' Equity Attributable to Parent, Ending Balance	`StockholdersEquity`	$-504.06K	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.