Pure Capital : 2022-06-33 Pure Capital Solutions Inc PCST Compiled Financial Statements

PURE CAPITAL SOLUTIONS, INC.

Consolidated Financial Statements

and

Accountants' Compilation Report

For the Period Ended June 30, 2022

TABLE OF CONTENTS
	Page
ACCOUNTANTS' COMPILATION REPORT	1
Consolidated Financial Statements for the Period Ended June 30, 2022:
Consolidated Balance Sheets	2
Consolidated Statements of Operations	3
Consolidated Statements of Stockholders' Deficit	4
Consolidated Statements of Cash Flows	5
Notes to Consolidated Financial Statements	6 - 16

Certified Public Accountants &

Business Consultants

ACCOUNTANTS' COMPILATION REPORT

To Board of Directors and Management

Pure Capital Solutions, Inc.

Salt Lake City, UT

Management is responsible for the accompanying interim, consolidated financial statements of Pure Capital Solutions, Inc. (a corporation) and its wholly-owned subsidiaries, which comprise the consolidated balance sheets as of June 30, 2022 and June 30, 2021 and the related consolidated statements of operations for the six months ended June 30, 2022 and 2021 and cash flows for the six months ended June 30, 2022 and 2021, and stockholders' deficit for the six months ended June 30, 2022 and twelve months ended December 31, 2021 and the related notes to the interim, consolidated financial statements in accordance with accounting principles generally accepted in the United States of America. We have performed the compilation engagement in accordance with Statements on Standards for Accounting and Review Services promulgated by the Accounting and Review Services Committee of the AICPA. We did not audit or review the interim, consolidated financial statements nor were we required to perform any procedures to verify the accuracy or completeness of the information provided by management. We do not express an opinion, a conclusion, nor provide any assurance on these interim, consolidated financial statements.

We are not independent with respect to Pure Capital Solutions, Inc.

As discussed in Note L, certain conditions indicate that the company may be unable to continue as a going concern. The accompanying consolidated financial statements do not include any adjustments that might be necessary should the Company be unable to continue as a going concern.

CPA Partners, LLC

Seminole, FL

August 11, 2022

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8200 - 113th Street, Suite 103 • Seminole, Florida 33772 • [phone] • (FAX) 727-398-5560

Pure Capital Solutions, Inc.

Consolidated Balance Sheets

		June 30,			June 30,
ASSETS		2022			2021
Current Assets
Cash and Cash Equivalents	$	337,520	$	482,071
Accounts Receivable		33,375			-
Notes Receivable		-			-
Prepaid Expenses		36,858			25,635
Total Current Assets		407,753			507,706
Other Assets
Software		288			288
Trademarks & Domains		1,109			1,109
Accumulated Amortization		(255)			(169)
Total Other Assets		1,142			1,228
Total Assets	$	408,895		$	508,934
LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities
Accounts Payable	$	411,151	$	137,316
Credit Cards Payable		1,117			-
Income Tax Payable		139,224			-
Accrued Expenses		14,592			-
Advance from Related Party		100,000			-
Stock Subscription Payable		-			25,000
Total Current Liabilities		666,084			162,316
Long-term Debt		1,288,300			650,000
Total Liabilities		1,954,384			812,316
Stockholders' Equity
Common Stock - $0.001 par value; 200,000,000		113,300			110,925
shares authorized; 113,800,000 and 17,200,000
shares issued and outstanding, respectively
Additional Paid in Capital		980,970			502,837
Accumulated Deficits		(2,639,759)			(917,144)
Total Stockholders' Equity		(1,545,489)			(303,382)
Total Liabilities and Stockholders' Equity	$	408,895	$	508,934

See accountants' compilation report and accompanying notes to consolidated financial statements.

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Pure Capital Solutions, Inc.

Consolidated Statements of Operations

		Three Months Ended			Six Months Ended
		June 30,				June 30,
		2022			2021			2022			2021
Revenues	$	13,949	$	-	$	43,518	$	-
Selling, General, and Administrative Expenses
Advertising and Marketing		9,143			15,000			44,761			16,334
Amortization		42			84			85			169
Bank Fees		238			182			324			243
Computer & Internet		641			-			703			-
Dues & Subscriptions		3,188			20			3,548			80
Filing Fees		2,727			6,531			5,996			9,641
Insurance		273			-			481			533
Licenses & Permits		-			-			-			-
Management Fees		56,351			-			115,524			-
Meals		4,525			1,828			7,527			1,973
Meetings & Conferences		3,483			-			19,114			-
Office Expense		3,200			5,731			8,952			8,146
Postage & Delivery		219			179			265			197
Professional Fees		120,960			61,524			226,447			74,270
Repairs & Maintenance		1,605			-			1,605			-
Software Subscriptions		6,274			3,388			18,407			3,575
Software Build		7,200			374,962			31,200			405,962
Subcontractors		27,162			10,500			55,544			10,500
Supplies		3,500			-			3,500			-
Taxes & Fees		105,030			-			78,658			-
Telephone		483			162			944			234
Training and Education		199			547			199			547
Travel		34,918			7,750			49,918			7,750
Vehicle Expense		343			10			1,098			10
Website Expense		10,000			-			23,045			-
Total Selling, General, and Administrative Expenses		401,704			488,398			697,845			540,164
Loss Before Other Income/(Expense)		(387,755)			(488,398)			(654,327)			(540,164)
Other Income/(Expense)
Interest Expense		(18,688)			(19,250)			(34,625)			(25,250)
Interest Income		-			100			-			4,050
Loss on Debt Extinguishment		-			-			-			(104,000)
Misc. Income		528			-			889			-
Gain on Interest Forgiveness		-			-			-			1,000
Total Other Income/(Expense)		(18,160)			(19,150)			(33,736)			(124,200)
Loss Before Income Taxes		(405,915)			(507,548)			(688,063)			(664,364)
Net Operating Income/(Loss)	$	(405,915)	$	(507,548)			(688,063)			(664,364)
Weighted Average Common Shares Outstanding		111,936,043			35,494,505			112,001,370			38,775,137
Income/(Loss) per Common Share	$	(0.00)	$	(0.01)	$	(0.01)	$	(0.02)

See accountants' compilation report and accompanying notes to consolidated financial statements.

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