secwatch.observer — SEC 8-K summary
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Issuer:     Appsoft Technologies, Inc. (ASFT)
CIK:        0001651992
Form:       8-K
Filed at:   2023-04-14T23:59:59+00:00
Accession:  0001477932-23-002558
Event type: other_material
Sentiment:  negative
Materiality: 0.80
Item codes: 4.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

AppSoft Technologies restates 2021 audited financials; errors in payables, invoices, promissory note advances
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- Failed to record accounts payable, invoices for services, and advances under draw-down promissory note, causing material misstatements.
- Errors require changes to expenses and liabilities on balance sheet and statement of operations for year ended Dec 31, 2021.
- Board determined errors were not fraud but omissions; single employee handles all accounting functions.
- Company restating audited financials, MD&A, and evaluation of disclosure controls and procedures.
- Material weakness in internal control over financial reporting; disclosure controls not effective as of Dec 31, 2021.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1651992/000147793223002558/0001477932-23-002558-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1651992/000147793223002558/asft_8k.htm
  HTML page:      https://secwatch.observer/filing/0001477932-23-002558

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