Accredited Solutions Inc

Previous wording

We had $119,291 and $129,990 of cost of sales and a gross profit of ($9,918) and $26,248 for the three months ended March 31, 2024 and 2023, respectively.

Current wording

We had $53,766 and $163,040 of cost of sales and a gross profit of $48,562 and $59,323 for the three months ended June 30, 2024 and 2023, respectively.

Previous wording

Operating income (expenses) for the three months ended March 31, 2024 and 2023, were $114,998 and ($140,918), respectively. The increase in income for the first three months of 2024 compared to the first three months of 2023 is due primarily to the change in derivative liabilities and decreased interest expense.

Current wording

Operating income (expenses) for the three months ended June 30, 2024 and 2023, were $63,977 and $11,322 respectively. The increase in operating expenses for the three months ended June 30, 2024 compared to the three months ended June 30, 2023 is due primarily to increased payroll related expenses.

Previous wording

Net income (loss) from continuing operations for the three months ended March 31, 2024 and 2023, was $46,170 and ($196,373), respectively. Net income (loss) from discontinued operations for the three months ended March 31, 2024 and 2023, was $0 and ($35,078), respectively. Net income (loss) for the three months ended March 31, 2024 and 2023, was $46,170 and ($231,451), respectively.

Current wording

Net loss from continuing operations for the three months ended June 30, 2024 and 2023, was $2,079,465 and $1,375,776, respectively. Net loss from discontinued operations for the three months ended June 30, 2024 and 2023, was $0 and $162,173, respectively. Net loss for the three months ended June 30, 2024 and 2023, was $2,079,465 and $1,537,949, respectively.

Previous wording

We had cash used in operations of $674 the three months ended March 31, 2024, compared to $47,953 for the three months ended March 31, 2023.

Current wording

We had cash used in operations of $36,490 the six months ended June 30, 2024, compared to $43,482 for the six months ended June 30, 2023.

Previous wording

We had cash used in investing activities of $-0- for the three months ended March 31, 2024 and 2023, respectively.

Current wording

We had cash used in investing activities of $0 and $541 for the six months ended June 30, 2024 and 2023, respectively.

Previous wording

We had cash provided by financing activities of $0 for the three months ended March 31, 2024, compared to cash provided by financing activities of $15,000 for the three months ended March 31, 2023.

Current wording

We had cash provided by financing activities of $42,350 for the six months ended June 30, 2024, compared to cash provided by financing activities of $19,600 for the six months ended June 30, 2023.

Previous wording

As of March 31, 2024, the Company had cash and cash equivalents of $245. We do not have sufficient resources to effectuate our business. We expect to incur a minimum of $100,000 in expenses during the next twelve months of operations. We estimate that these expenses will be comprised primarily of general expenses including overhead, inventory purchases, legal and accounting fees.

Current wording

As of June 30, 2024, the Company had cash and cash equivalents of $6,779. We do not have sufficient resources to effectuate our business. We expect to incur a minimum of $100,000 in expenses during the next twelve months of operations. We estimate that these expenses will be comprised primarily of general expenses including overhead, inventory purchases, legal and accounting fees.

Previous wording

As of March 31, 2024, the Company has primarily been funded by the issuance of convertible notes to both related and unrelated third parties. As of March 31, 2024, related party notes totaled $374,102, net of discounts, and third-party notes totaled $895,754, net of discounts, respectively.

Current wording

As of June 30, 2024, the Company has primarily been funded by the advances from related parties. As of June 30, 2024, related party advances of $12,350, related party notes totaled $374,102, net of discounts, and third-party notes totaled $945,840, net of discounts, respectively.

Previous wording

The accompanying consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. As reflected in the financial statements, the Company had a working capital deficit of $5,031,901 at March 31, 2024, a net income of $46,170 for the three months ended March 31, 2024, and $674 of cash used in operating activities for the three months ended March 31, 2024, which raises substantial doubt as to the Company’s ability to continue as a going concern for a period of one year from the issuance of these financial statements.

Current wording

The accompanying consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. As reflected in the financial statements, the Company had a working capital deficit of $7,219,468 at June 30, 2024, a net loss of $2,152,771 for the six months ended June 30, 2024, and $36,490 of cash used in operating activities for the six months ended June 30, 2024, which raises substantial doubt as to the Company’s ability to continue as a going concern for a period of one year from the issuance of the interim financial statements.