INDEX TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS
ConsolidatedBalanceSheets .................................................................. F-2 ConsolidatedStatementsofOperations .......................................................... F-3 Consolidated Statement of Stockholders' Equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F-4 ConsolidatedStatementsofCashFlows ......................................................... F-5
NotestoConsolidatedFinancialStatements ...................................................... F-6
Alternet Systems, Inc. Consolidated Balance Sheet
December 31,
(Unaudited)
2021 2020
ASSETS
CURRENT ASSETS Cash
$
179,408 $ 9,407
Accounts receivable, net 710,000 470,000
Due from related parties 3,485 3,485
Investment in digital currency 117,004 117,004
Total current assets 1,009,897 599,896
OTHER ASSETS
Investment in equity securities
Total other assets
1,000,000 1,000,000
- -
Total Assets
$
2,009,897 $ 599,896
LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
CURRENT LIABILITIES
Accounts payable and accrued liabilities
$
- $ 1,267,594
Wages payable 1,768,957 1,965,067
Third party loans, including accrued interest 1,323,866 92,820
Liability for shares to be issued 130,362 505,362
Liability to deliver product
152,000
-
Current liabilities of discontinued operations 125,492 125,492
Total current liabilities
Commitments and Contingencies STOCKHOLDERS' EQUITY (DEFICIT)
3,500,677 -3,956,335 -
Preferred stock, $0.00001 par value, authorized 10,000,000 shares, 0 shares issued and outstanding
Common stock, $0.00001 par value, authorized 3500,000,000; 2,609,075,328 and 1,620,672,390 shares issued and outstanding
100 26,091
100 16,207
Additional paid-in capital 1,728,567 (995,707)
Share subscriptions receivable - (375,000)
Accumulated comprehensive income (2,031) (2,031)
Accumulated deficit (3,243,507) (2,000,008)
Total stockholders' equity (deficit) (1,490,780) (3,356,439)
Total Liabilities and Stockholders' Equity $ 2,009,897 $ 599,896
Alternet Systems, Inc. Consolidated Statements of Operations
(unaudited)
REVENUES
Consulting Products
Total revenues COST OF SALES
Product Shipping
Total cost of sales GROSS MARGIN
OPERATING EXPENSES:
General and administrative expenses Management and consulting
Total expenses
Net loss before other income (loss) OTHER INCOME (LOSS)
Interest expense
Gain on debt settlement
Total other income (loss)
Net income (loss)
Income (loss) per weighted average common share Number of weighted average common shares outstanding
2021
$
240,000 48,000 288,000 24,000 6,000 30,000
2020
$ 240,000 - 240,000
- - -
258,000 240,000
344,444 116,500
618,000 507,875
962,444 624,375
(704,444) (624,375)
(539,055) (22,920)
- 168,753
(539,055) 145,833
$ (1,243,499)
$(0.001) 2,169,082,337
$ (478,542)
$(0.001) 905,843,112
Alternet Systems, Inc. Consolidated Statement of Stockholders' Deficit
(Unaudited)
Additional | Total | ||||
Number | Par | Paid-in | Accumulated | Stockholders' | |
of Shares | Value | Capital | Deficit | Equity | |
BALANCE, January 1, 2020 | 539,127,651 | $5,391 | $(2,156,446) | $(1,761,467) | (3,912,522) |
Shares issued to settle debt | 1,081,544,739 | 10,815 | 1,160,739 | - | 1,171,554 |
Net loss | - | - | - | (238,542) | (238,542) |
Balance December 31, 2020 | 1,620,672,390 | 16,206 | (995,707) | (2,000,009) | (2,979,510) |
Shares issued to settle debt | 988,402,938 | 9,884 | 2,724,274 | - | 2,734,158 |
Net loss | - | - | - | (1,243,499) | (1,243,499) |
Balance December 31, 2021 | (1,488,851) |
$
2,609,075,328 $ (3,243,508)
$ 26,090 $
1,728,567 $
The accompanying notes are an integral part of the financial statements
Alternet Systems, Inc. Consolidated Statements of Cash Flows
(Unaudited)
CASH FLOWS FROM OPERATING ACTIVITIES: Net loss
Adjustments to reconcile net loss to net cash used in operating activities:
Gain on debt settlement
Amortization of OID
Changes in operating assets and liabilities
(Increase) in accounts receivable
Increase in accounts payable and accrued expenses
Increase in liability to deliver product
Net cash used by operating activities
CASH FLOWS FROM INVESTING ACTIVITIES:
Investment in marketable equity securities
Net cash used by operating activities
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from third party notes
Net cash provided by financing activities
Net increase (decrease) in cash
CASH, beginning of period CASH, end of period
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
2021
$(1,243,499)
-
81,278
(240,000)
1,259,448
170,000
27,227 -
(1,000,000)
(1,000,000)
1,143,140 1,143,140
2020
$(238,542)
(168,753)
-
(50,000) 447,885 - (9,410)
- - -
- -170,367 (9,410)
9,407 18,817
$
179,774 $ 9,407
Interest paid in cash $ 0 $ 0
Taxes paid in cash $ 0 $ 0
Non-Cash Financing Activities:
Shares issued to settle debt and accrued expenses
$ 2,734,158
The accompanying notes are an integral part of the financial statements
$
1,160,739
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Alternet Systems Inc. published this content on 14 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 April 2022 21:18:34 UTC.