AppSoft Technologies Reports Increased Net Loss and Ongoing Financial Challenges in Q1 2025

AppSoft Technologies, Inc. reported a net loss of $25,594 for the first quarter of 2025, compared to a net loss of $14,986 for the same period in 2024. The company did not generate any revenue during either quarter, reflecting ongoing challenges in its operational activities. Total expenses for the first quarter of 2025 amounted to $25,594, which included significant professional fees and interest expenses, up from $14,986 in the previous year. The increase in expenses is attributed primarily to higher professional fees related to compliance with federal securities laws and increased interest expenses.

In terms of cash flow, AppSoft Technologies utilized $23,625 in operating activities during the first quarter of 2025, compared to $13,001 in the same period last year. The company reported net cash provided by financing activities of $23,600, reflecting borrowings under a drawdown promissory note, which has a total borrowing capacity of $400,000. As of March 31, 2025, the company had a working capital deficit of $38,086, slightly higher than the $35,794 deficit reported at the end of 2024.

Operationally, AppSoft Technologies has not engaged in substantive business operations, focusing instead on its Gamerfy platform, which aims to identify and monetize independent game developers' applications. The company has paused its other operations, including the Esportsreporter platform, due to financial constraints. Currently, AppSoft has one full-time employee and relies on independent contractors to manage costs. The company’s total employee headcount remains low, reflecting its strategy to minimize overhead.

The company’s financial statements raise substantial doubt about its ability to continue as a going concern, given its accumulated deficit of $1,041,314 and ongoing losses. Management has indicated that its future operations depend on securing additional financing to support its development and operational plans. The company is exploring options for equity funding and is focused on maintaining a manageable level of corporate overhead.

Looking ahead, AppSoft Technologies acknowledges the need for significant capital to fund its operations and development initiatives. The company is actively seeking financing but recognizes the uncertainty surrounding its ability to secure necessary funds on favorable terms. Without adequate financing, AppSoft may be forced to curtail its operations or cease business altogether, which would have a material adverse effect on its financial condition and operational viability.