10-K Filing

APPlife Digital Solutions Inc CIK: 1755101 FY 2020

Filing Information

Form Type	10-K
Accession Number	`0001445866-20-001404`
Period End Date	20200630
Filing Date	20200925
Fiscal Year	2020
Fiscal Period	FY
XBRL Instance	alds-20200630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 48 Income Statement 32 Cash Flow Statement 70 Stockholders Equity 18

Balance Sheet 48 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
Common Stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Common Stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Cash	`Cash`	$11.49K	USD	Point-in-time
Common Stock, shares issued	`CommonStockSharesIssued`	127.04M	shares	Point-in-time
Cash	`Cash`	$65.65K	USD	Point-in-time
Common Stock, shares issued	`CommonStockSharesIssued`	119.06M	shares	Point-in-time
Cash	`Cash`	$85.71K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssets`	-	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssets`	$388.43K	USD	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	127.04M	shares	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	119.06M	shares	Point-in-time
Inventories	`InventoryNet`	$43.67K	USD	Point-in-time
Inventories	`InventoryNet`	-	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`	$525.38K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$65.65K	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`	$525.38K	USD	Point-in-time
Total assets	`Assets`	$580.35K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$85.28K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$113.47K	USD	Point-in-time
Common stock payable	`CommonStockPayable`	$80.00K	USD	Point-in-time
Common stock payable	`CommonStockPayable`	$80.42K	USD	Point-in-time
Notes payable	`NotesPayableCurrent`	$522.28K	USD	Point-in-time
Notes payable	`NotesPayableCurrent`	$70.62K	USD	Point-in-time
Derivative liability	`DerivativeLiabilitiesCurrent`	$248.17K	USD	Point-in-time
Derivative liability	`DerivativeLiabilitiesCurrent`	$19.82K	USD	Point-in-time
Due to officer	`DueToOfficersOrStockholdersCurrent`	$9.58K	USD	Point-in-time
Due to officer	`DueToOfficersOrStockholdersCurrent`	$6.43K	USD	Point-in-time
Due to Smartrade Exchange Services, Inc.	`DueToRelatedPartiesCurrent`	$61.03K	USD	Point-in-time
Due to Smartrade Exchange Services, Inc.	`DueToRelatedPartiesCurrent`	-	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$326.75K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$970.35K	USD	Point-in-time
Common stock, $0.001 par value, 500,000,000 shares authorized; 127,037,531 and 119,059,674 shares issued and outstanding as of June 30, 2020 and 2019, respectively	`CommonStockValue`	$127.04K	USD	Point-in-time
Common stock, $0.001 par value, 500,000,000 shares authorized; 127,037,531 and 119,059,674 shares issued and outstanding as of June 30, 2020 and 2019, respectively	`CommonStockValue`	$119.06K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$5.04M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$1.80M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-1.66M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-5.61M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$253.59K	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-444.97K	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-87.59K	USD	Point-in-time
Total liabilities and stockholders' equity (deficit)	`LiabilitiesAndStockholdersEquity`	$525.38K	USD	Point-in-time
Total liabilities and stockholders' equity (deficit)	`LiabilitiesAndStockholdersEquity`	$580.35K	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	-	USD	Annual
Revenues	`Revenues`	$2.97K	USD	Annual
Cost of goods sold	`CostOfRevenue`	$1.83K	USD	Annual
Cost of goods sold	`CostOfRevenue`	-	USD	Annual
Gross profit	`GrossProfit`	-	USD	Annual
Gross profit	`GrossProfit`	$1.14K	USD	Annual
Operating expenses	`OperatingCostsAndExpenses`	$1.46M	USD	Annual
Operating expenses	`OperatingCostsAndExpenses`	$3.26M	USD	Annual
Impairment of equity method investment	`ImpairmentOfInvestments`	$500.06K	USD	Annual
Impairment of equity method investment	`ImpairmentOfInvestments`	-	USD	Annual
Loss from equity method investment	`IncomeLossFromEquityMethodInvestments`	$-21.02K	USD	Annual
Loss from equity method investment	`IncomeLossFromEquityMethodInvestments`	$-14.64K	USD	Annual
Total operating expenses	`OperatingExpenses`	$1.48M	USD	Annual
Total operating expenses	`OperatingExpenses`	$3.77M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-1.48M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-3.77M	USD	Annual
Interest expense	`InterestExpense`	$13.84K	USD	Annual
Interest expense	`InterestExpense`	$185.51K	USD	Annual
Loss on conversion of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	Annual
Loss on conversion of debt	`GainsLossesOnExtinguishmentOfDebt`	$-36.01K	USD	Annual
Change in fair value of derivative liability	`GainLossOnSaleOfDerivatives`	$46.08K	USD	Annual
Change in fair value of derivative liability	`GainLossOnSaleOfDerivatives`	$1.20K	USD	Annual
Net loss before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-3.95M	USD	Annual
Net loss before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-1.49M	USD	Annual
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	Annual
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	Annual
Net (loss)	`ProfitLoss`	$-3.95M	USD	Annual
Net (loss)	`ProfitLoss`	$-1.49M	USD	Annual
Basic and diluted (loss) per share	`EarningsPerShareBasicAndDiluted`	$-0.12	USD	Annual
Basic and diluted (loss) per share	`EarningsPerShareBasicAndDiluted`	$-0.06	USD	Annual
Average number of common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	32.98M	shares	Annual
Average number of common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	25.66M	shares	Annual

Cash Flow Statement 70 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-3.95M	USD	Annual
Net loss	`ProfitLoss`	$-1.49M	USD	Annual
Amortization	`AmortizationOfDebtDiscountPremium`	-	USD	Annual
Amortization	`AmortizationOfDebtDiscountPremium`	$126.44K	USD	Annual
Issuance of common stock for services	`IssuanceOfCommonStockForServices`	$-20.47K	USD	Annual
Issuance of common stock for services	`IssuanceOfCommonStockForServices`	$-1.09M	USD	Annual
Issuance of common stock to employee	`IssuanceOfCommonStockToEmployee`	$-1.07M	USD	Annual
Issuance of common stock to employee	`IssuanceOfCommonStockToEmployee`	-	USD	Annual
Stock compensation expense	`ShareBasedCompensation`	$2.01M	USD	Annual
Stock compensation expense	`ShareBasedCompensation`	-	USD	Annual
Impairment of investment	`ImpairmentOfInvestments`	$500.06K	USD	Annual
Impairment of investment	`ImpairmentOfInvestments`	-	USD	Annual
Issuance of notes payable for services	`IssuanceOfNotesPayableForServices`	-	USD	Annual
Issuance of notes payable for services	`IssuanceOfNotesPayableForServices`	-	USD	Annual
Loss from equity method investment	`IncomeLossFromEquityMethodInvestments`	$-21.02K	USD	Annual
Loss from equity method investment	`IncomeLossFromEquityMethodInvestments`	$-14.64K	USD	Annual
Common stock payable	`IncreasedecreaseinCommonStockPayable`	$80.42K	USD	Annual
Common stock payable	`IncreasedecreaseinCommonStockPayable`	$-416.00	USD	Annual
Noncash interest expense	`OtherNoncashIncomeExpense`	$-8.64K	USD	Annual
Noncash interest expense	`OtherNoncashIncomeExpense`	-	USD	Annual
Change in fair value of derivative liability	`GainLossOnSaleOfDerivatives`	$46.08K	USD	Annual
Change in fair value of derivative liability	`GainLossOnSaleOfDerivatives`	$1.20K	USD	Annual
Loss on conversion of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	Annual
Loss on conversion of debt	`GainsLossesOnExtinguishmentOfDebt`	$-36.01K	USD	Annual
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	-	USD	Annual
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$7.57K	USD	Annual
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-10.00K	USD	Annual
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$388.43K	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	-	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$43.67K	USD	Annual
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$58.78K	USD	Annual
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$36.79K	USD	Annual
Net cash (used )in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-216.69K	USD	Annual
Net cash (used )in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-627.39K	USD	Annual
Investment in affiliate	`PaymentsForProceedsFromInvestments`	$317.72K	USD	Annual
Investment in affiliate	`PaymentsForProceedsFromInvestments`	-	USD	Annual
Net cash (used) in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	Annual
Net cash (used) in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-317.72K	USD	Annual
Proceeds from notes payable	`ProceedsFromNotesPayable`	$10.00K	USD	Annual
Proceeds from notes payable	`ProceedsFromNotesPayable`	$620.00K	USD	Annual
Payment on notes payable	`RepaymentsOfNotesPayable`	$9.51K	USD	Annual
Payment on notes payable	`RepaymentsOfNotesPayable`	$156.97K	USD	Annual
Payment on amounts due to Smartrade Exchange Services, Inc.	`PaymentOnAmountsDueToSmartradeExchangeServicesInc.`	$59.90K	USD	Annual
Payment on amounts due to Smartrade Exchange Services, Inc.	`PaymentOnAmountsDueToSmartradeExchangeServicesInc.`	-	USD	Annual
Payment on amounts due to officer	`PaymentOnAmountsDueToOfficer`	$3.15K	USD	Annual
Payment on amounts due to officer	`PaymentOnAmountsDueToOfficer`	-	USD	Annual
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$100.00K	USD	Annual
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$735.54K	USD	Annual
Net cash provided from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$588.57K	USD	Annual
Net cash provided from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$647.44K	USD	Annual
Net increase in cash and cash equivalents	`CashPeriodIncreaseDecrease`	$20.05K	USD	Annual
Net increase in cash and cash equivalents	`CashPeriodIncreaseDecrease`	$54.16K	USD	Annual
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`	$85.71K	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`	$85.71K	USD	Point-in-time
Conversion of notes payable to equity	`DebtConversionConvertedInstrumentAmount1`	-	USD	Annual
Conversion of notes payable to equity	`DebtConversionConvertedInstrumentAmount1`	$5.12K	USD	Annual
Eliminate derivative liability upon repayment of debt	`EliminateDerivativeLiabilityUponRepaymentOfDebt`	-	USD	Annual
Eliminate derivative liability upon repayment of debt	`EliminateDerivativeLiabilityUponRepaymentOfDebt`	$13.59K	USD	Annual
Derivative liability related to convertible debt	`DerivativeLiabilityRelatedToConvertibleDebt`	$288.01K	USD	Annual
Derivative liability related to convertible debt	`DerivativeLiabilityRelatedToConvertibleDebt`	-	USD	Annual
Capitalize accrued interest after amendment to notes payable	`CapitalizeAccruedInterestAfterAmendmentToNotesPayable`	-	USD	Annual
Capitalize accrued interest after amendment to notes payable	`CapitalizeAccruedInterestAfterAmendmentToNotesPayable`	$9.73K	USD	Annual
Cash paid for interest	`InterestPaidNet`	-	USD	Annual
Cash paid for interest	`InterestPaidNet`	-	USD	Annual
Cash paid for taxes	`IncomeTaxesPaid`	-	USD	Annual
Cash paid for taxes	`IncomeTaxesPaid`	-	USD	Annual

Stockholders Equity 18 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`	$-444.97K	USD	Point-in-time
Stockholders' Equity Attributable to Parent, Beginning Balance	`StockholdersEquity`	$-87.59K	USD	Point-in-time
Common stock issued for cash, value	`StockIssuedDuringPeriodValueNewIssues`	$100.00K	USD	Annual
Common stock issued for cash, value	`StockIssuedDuringPeriodValueNewIssues`	$735.54K	USD	Annual
Stock compensation	`AdjustmentsToAdditionalPaidInCapitalIncomeTaxDeficiencyFromShareBasedCompensation`	$2.01M	USD	Annual
Common stock issued to employees, value	`StockIssuedDuringPeriodValueEmployeeBenefitPlan`	$1.07M	USD	Annual
Common stock issued for services, value	`StockIssuedDuringPeriodValueIssuedForServices`	$1.09M	USD	Annual
Common stock issued for services, value	`StockIssuedDuringPeriodValueIssuedForServices`	$20.47K	USD	Annual
Conversion of notes payable to equity, value	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$43.00K	USD	Annual
Conversion of notes payable to equity, shares	`StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities`	200,000.00	shares	Point-in-time
Eliminate derivative liability upon repayment of debt	`EliminateDerivativeLiabilityUponRepaymentOfDebt`	-	USD	Annual
Eliminate derivative liability upon repayment of debt	`EliminateDerivativeLiabilityUponRepaymentOfDebt`	$13.59K	USD	Annual
Net Loss	`ProfitLoss`	$-3.95M	USD	Annual
Net Loss	`ProfitLoss`	$-1.49M	USD	Annual
Stockholders' Equity Attributable to Parent, Ending Balance	`StockholdersEquity`	$253.59K	USD	Point-in-time
Stockholders' Equity Attributable to Parent, Ending Balance	`StockholdersEquity`	$-444.97K	USD	Point-in-time
Stockholders' Equity Attributable to Parent, Ending Balance	`StockholdersEquity`	$-87.59K	USD	Point-in-time

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