SpectralCast, Inc.
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
JUNE 30, 2022
(UNAUDITED)
Table of Contents
Financial statements | |
Balance Sheet | 1 |
Statement of Operations | 2 |
Statement of Changes in Shareholder's Deficit | 3 |
Statement of Cash Flows | 4 |
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Notes to Financial Statements | 1 - 9 |
SpectralCast, Inc. | ||
BALANCE SHEET | ||
June 30, 2022 | ||
ASSETS | ||
Current Assets | ||
Total Current Assets | $ | - |
Fixed Assets | ||
Equipment, furniture and vehicles | 53,552 | |
Less: Accumulated depreciation | (53,552) | |
Total Fixed Assets | - | |
Other Assets | ||
Loans receivable | 125,419 | |
Total Other Assets | 125,419 | |
TOTAL ASSETS | 125,419 | |
LIABILITIES AND SHAREHOLDERS' DEFICIT | ||
Current Liabilities | ||
Accounts payable | 353,500 | |
Accrued interest | 32,874 | |
Loans payable | 13,117 | |
Notes payable | 40,000 | |
Officer loan | 32,177 | |
Total Current Liabilities | 471,668 | |
Equity | ||
Common stock | 1,962,933 | |
Additional paid-in capital | 305,000 | |
Retained earnings | (2,585,184) | |
Net loss | (28,998) | |
Total Deficit | (346,249) | |
TOTAL LIABILITIES AND SHAREHOLDERS' DEFICIT | $ | 125,419 |
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SpectralCast, Inc.
STATEMENT OF OPERATIONS
For the Year Ended June 30, 2022
SALES | $ | - |
COST OF GOODS SOLD | - | |
GROSS PROFIT | - | |
EXPENSES | ||
Accounting | 3,400 | |
Bad debt expense | 128,810 | |
Rent and storage costs | 4,500 | |
TOTAL OPERATING EXPENSES | 136,710 | |
OPERATING INCOME (LOSS) | (136,710) | |
OTHER INCOME AND EXPENSES | ||
Interest (expense) income | 107,712 | |
TOTAL OTHER INCOME AND EXPENSES | 107,712 | |
NET LOSS | $ | (28,998) |
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SpectralCast, Inc.
STATEMENT OF CHANGES IN SHAREHOLDERS' DEFICIT
For the Year Ended June 30, 2022
Additional Paid- | Accumulated | |||||||||
Common Stock | in Capital | Deficit | Total | |||||||
BALANCE AT June 30, 2020 | $ | 617,310 | $ | 305,000 | $ (2,538,812) | $ | (1,616,502) | |||
Capital contributed | - | - | - | - | ||||||
Net loss for the period | (46,372) | (46,372) | ||||||||
BALANCE, June 30, 2021 | $ | 617,310 | $ | 305,000 | $ (2,585,184) | $ | (1,662,874) | |||
Capital contributed | 1,345,623 | - | 1,345,623 | |||||||
Net loss for the period | (28,998) | (28,998) | ||||||||
BALANCE, June 30, 2022 | $ | 1,962,933 | $ | 305,000 | $ (2,614,182) | $ | (346,249) |
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Spectralcast Inc. published this content on 16 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 August 2022 21:23:04 UTC.