Accredited Solutions Inc
For the period ended Sep 30, 2024. Filed Dec 5, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Dec 5, 2024
ASIIStored price and day change unavailable
Contents
Item 1. Condensed Consolidated Balance Sheets as of September 30, 2024 (Unaudited), and December 31, 2023
| September 30, 2024 | December 31, 2023 | |
|---|---|---|
| ASSETS · (Unaudited) | ||
| Current assets | ||
| Cash | $12,106 | $919 |
| Accounts receivable | 61,274 | 64,109 |
| Inventory | - | - |
| Prepaid expenses | 786 | 3,904 |
| Advance due from related entity | 22,678 | - |
| Total current assets | 96,844 | 68,932 |
| Other assets | ||
| Property, plant and equipment, net | 51,879 | 60,573 |
| Intellectual property | 100,000 | 100,000 |
| Total assets | $248,723 | $229,505 |
| LIABILITIES AND STOCKHOLDERS' DEFICIT | ||
| Current liabilities | ||
| Accounts payable | $238,633 | $159,506 |
| Advances payable | 48,450 | - |
| Advances payable - related parties | - | 39,450 |
| Accrued liabilities | - | 10,081 |
| Accrued liabilities - related parties | - | 11,400 |
| Interest payable | 6,242 | 260,534 |
| Interest payable to related parties | 713 | 172,149 |
| Notes payable | 119,110 | 19,100 |
| Convertible notes, net of discounts | 254,426 | 961,404 |
| Convertible notes to related parties, net of discounts | 125,000 | 374,102 |
| Derivative liabilities | 532,257 | 3,294,816 |
| Current liabilities held for sale | - | - |
| Total current liabilities | 1,324,831 | 5,302,542 |
| Total liabilities | 1,324,831 | 5,302,542 |
| Stockholders' deficit | ||
| Preferred stock - Series A - 15,000 shares authorized, $0.001 par value, 14,000 shares issued and outstanding | 14 | 14 |
| Preferred stock - Series B - 5,000 shares authorized, $0.001 par value, 1,217 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively | 1 | - |
| Common stock - 5,000,000,000 shares authorized, $0.001 par value, 2,435,717,463 and 678,796,778 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively | 2,435,717 | 678,797 |
| Additional paid in capital | 2,242,604 | 2,121,827 |
| Accumulated deficit | (5,754,444) | (7,873,675) |
| Total stockholders' deficit | (1,076,108) | (5,073,037) |
| Total liabilities and stockholders' deficit | $248,723 | $229,505 |
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
| For the Three Months Ended · For the Nine Months Ended | |||||||
|---|---|---|---|---|---|---|---|
| September 30, 2024 · September 30, 2023 · September 30, 2024 · September 30, 2023 | |||||||
| Net sales | $241,136 | $164,515 | $452,837 | $543,116 | |||
| Cost of sales | 189,824 | 121,616 | 362,881 | 414,646 | |||
| Gross profit | 51,312 | 42,899 | 89,956 | 128,470 | |||
| Operating expenses | |||||||
| General and administrative expenses | 423,590 | 70,717 | 540,690 | 187,752 | |||
| Depreciation and amortization expense | 2,907 | 6,478 | 8,694 | 22,967 | |||
| Total operating expenses | 426,497 | 77,195 | 549,384 | 210,719 | |||
| Operating loss | (375,185) | (34,296) | (459,428) | (82,249) | |||
| Other income (expense) | |||||||
| Change in derivative liabilities | 4,683,044 | (169,306) | 2,762,559 | (1,623,455) | |||
| Interest expense | (35,857) | (47,369) | (183,900) | (142,564) | |||
| Loss on extinguishment of debt | - | - | - | (60,320) | |||
| Gain on investment in subsidiaries | - | - | - | 133,170 | |||
| Total other income (expense) | 4,647,187 | (216,675) | 2,578,639 | (1,693,169) | |||
| Net income (loss) from continuing operations | 4,272,002 | (250,971) | 2,119,231 | (1,775,418) | |||
| Net income (loss) from discontinued operations | - | - | - | (197,251) | |||
| Net income (loss) | $4,272,002 | $(250,971) | $2,119,231 | $(1,972,669) | |||
| Net income (loss) per share from continuing operations - basic and diluted | $0.00 | $(0.00) | $0.00 | $(0.00) | |||
| Net income (loss) per share from discontinued operations - basic and diluted | $ | - | $ | - | $ | - | $(0.00) |
| Net loss per share - basic and diluted | $0.00 | $(0.00) | $0.00 | $(0.00) | |||
| Weighted average number of common shares - basic and diluted | 1,971,239,882 | 700,280,474 | 1,466,440,854 | 607,719,617 | |||
CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' DEFICIT
| Preferred Stock · Common Stock | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Series A $0.001 Par · Series B $0.001 Par · $0.001 Par · Paid-in · Accumulated | ||||||||||
| Shares · Amount · Shares · Amount · Shares · Amount · Capital · Deficit · Total | ||||||||||
| Balance, December 31, 2023 | 14,000 | $14 | - | $ | - | 678,796,778 | $678,797 | $2,121,827 | $(7,873,675) | $(5,073,037) |
| Issuance of common stock for conversion of notes payable | - | - | - | - | 631,394,251 | 631,394 | (478,749) | - | 152,645 | |
| Net loss for the period | - | - | - | - | - | - | - | (73,306) | (73,306) | |
| Balance, March 31, 2024 | 14,000 | 14 | - | - | 1,310,191,029 | 1,310,191 | 1,643,078 | (7,946,981) | (4,993,698) | |
| Issuance of common stock for conversion of notes payable | - | - | - | - | 65,230,769 | 65,231 | (56,751) | - | 8,480 | |
| Net loss for the period | - | - | - | - | - | - | - | (2,079,465) | (2,079,465) | |
| Balance, June 30, 2024 | 14,000 | 14 | - | - | 1,375,421,798 | 1,375,422 | 1,586,327 | (10,026,446) | (7,064,683) | |
| Issuance of common stock for conversion of notes payable | - | - | - | - | 1,060,295,665 | 1,060,295 | (938,948) | - | 121,347 | |
| Issuance of preferred stock series B for conversion of notes payable | - | - | 1,217 | 1 | - | - | 1,595,225 | - | 1,595,225 | |
| Net loss for the period | - | - | - | - | - | - | - | 4,272,002 | 4,272,002 | |
| Balance, September 30, 2024 | 14,000 | $14 | 1,217 | $1 | 2,435,717,463 | $2,435,717 | $2,242,604 | $(5,754,444) | $(1,076,108) | |
| Preferred Stock · Common Stock · Additional | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Series A $0.001 Par · Series B $0.001 Par · $0.001 Par · Paid-in · Accumulated | ||||||||||
| Shares · Amount · Shares · Amount · Shares · Amount · Capital · Deficit · Total | ||||||||||
| Balance, December 31, 2022 | 14,000 | $14 | - | $ | - | 339,277,449 | $339,277 | $2,170,342 | $(6,385,080) | $(3,875,447) |
| Issuance of common stock for conversion of note payable | - | - | - | - | 262,469,031 | 262,469 | (69,583) | - | 192,886 | |
| Issuance of common stock for services | - | - | - | - | 20,000,000 | 20,000 | (2,000) | - | 18,000 | |
| Net loss for the period | - | - | - | - | - | - | - | (231,451) | (231,451) | |
| Balance, March 31, 2023 | 14,000 | 14 | - | - | 621,746,480 | 621,746 | 2,098,759 | (6,616,531) | (3,896,012) | |
| Issuance of common stock for conversion of note payable | - | - | - | - | 62,050,298 | 62,051 | (42,782) | - | 19,269 | |
| Issuance of common stock for services | - | - | - | - | (20,000,000) | (20,000) | 2,000 | - | (18,000) | |
| Issuance of common stock for sponsorship agreement | - | - | - | - | 15,000,000 | 15,000 | (9,000) | - | 6,000 | |
| Net loss for the period | - | - | - | - | - | - | - | (1,490,247) | (1,490,247) | |
| Balance, June 30, 2023 | 14,000 | 14 | - | - | 678,796,778 | 678,797 | 2,048,977 | (8,106,778) | (5,378,990) | |
| Issuance of common stock for conversion of note payable | - | - | - | - | 33,500,000 | 33,500 | (26,800) | - | 6,700 | |
| Net loss for the period | - | - | - | - | - | - | - | (250,971) | (250,971) | |
| Balance, September 30, 2023 | 14,000 | $14 | - | $ | - | 712,296,778 | $712,297 | $2,022,177 | $(8,357,749) | $(5,623,261) |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.