ASFT — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-08-19

• This Quarterly Report on Form 10-Q contains forward-looking statements, including statements regarding the Company’s plans, objectives, expectations, intentions and beliefs concerning future events, business strategy, financing needs and operating performance. Forward-looking statements are based on…

• Our ability to obtain financing as and when needed on acceptable terms.

• Our ability to develop our eSports business and generate revenue from sales, sponsorships, merchandise and advertiser supporter content;

• The following table presents our results of operations for the three months ended June 30, 2026 and 2025:

• Net loss decreased by $13,459, or 44%, to $16,937 for the three months ended June 30, 2026 from $30,396 for the comparable 2025 period. The decrease primarily reflected lower outside-services, selling, general and administrative and professional-fee expenses, partially offset by higher interest expe…

Text removed vs the prior filing · source: 10-Q · 2026-05-20

• The information in this discussion and elsewhere in this Report contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Such statem…

• Our ability to obtain financing as and when needed on acceptable terms.

• During the quarters ended March 31, 2026 and 2025, the Company did not engage in substantive business operations, did not generate any revenue and had minimal assets. During the quarter ended March 31, 2026, the Company incurred operating expenses of $20,449, consisting principally of professional f…

• Liquidity is the ability of a company to generate adequate amounts of cash to support its current and future operations, satisfy its obligations, and otherwise operate on an ongoing basis. Significant factors in the management of liquidity are funds generated by operations, the availability of credi…

• Our primary requirements for liquidity and capital are to fund the development and acquisition of new Apps, to develop and promote our Esports platform, for sales and marketing initiatives in connection with the launch and promotion of our games and platforms, and for working capital to fund our gen…

Text added vs the prior filing · source: 10-Q · 2026-08-19

• Management, with the participation of Brian Kupchik, the Company’s President and Chief Executive Officer and its principal executive officer, principal financial officer and principal accounting officer, evaluated the effectiveness of the Company’s disclosure controls and procedures as of June 30, 2…

• The material weaknesses consist of (i) inadequate segregation of duties in the handling of cash, cash receipts and cash disbursements due to the Company’s limited personnel and (ii) the lack of an independent board to oversee management decisions and the use of funds. These material weaknesses were …

Text removed vs the prior filing · source: 10-Q · 2026-05-20

• Pursuant to Rule 13a-15(b) under the Exchange Act, the Company carried out an evaluation, under the supervision and with the participation of the Company’s Chief Executive Officer, who is the Company’s principal executive officer and principal financial officer and who we refer to herein as our PEO,…

• Management is in the process of determining how best to address this condition and implement a more effective system to ensure that information required to be disclosed in this quarterly report on Form 10-Q has been recorded, processed, summarized and reported accurately. Our management acknowledges…