ELINX CORPORATION
(FORMERLY KNOWN AS APERTURE HEALTH, INC.)
BALANCE SHEETS
June 30, | June 30, | |
2021 | 2020 |
ASSETS
CURRENT ASSETS
Cash
Accounts receivable
Total Current Assets
Property and equipment, net of accumulated depreciation
TOTAL ASSETS
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES
Accounts payable and accrued liabilities
Notes payable - related parties
Total Current Liabilities
LONG TERM LIABILITIES
Notes payable
TOTAL LIABILITIES
STOCKHOLDERS' EQUITY
Common stock; $0.001 par value, 480,000,000 shares authorized; 24,908,956 and 24,908,956 shares issued and outstanding at June 30, 2021 and June 30, 2020, respectively
Additional Paid-in Capital
Accumulated Deficit
Total Stockholders' Equity
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY
$ | 374,557 | $ | 8,859 | ||||||||
144,596 | - | ||||||||||
519,153 | 8,859 | ||||||||||
177.976 | 223,418 | ||||||||||
$ | 697,129 | $ | 232,277 | ||||||||
$ | 244,634 | $ | 155,025 | |||||||||
39,486 | - | |||||||||||
284,120 | 155,025 | |||||||||||
$ | 114,792 | $ | - | |||||||||
398,912 | $ | - |
24,909 | 24,909 |
2,262.697 2,262,697
(1,989,389) (2,210,354 )
298,21777,252
$ | 697,129 | $ | 232,277 |
See accompanying notes to financial statements
ELINX CORPORATION
(FORMERLY KNOWN AS APERTURE HEALTH, INC.)
STATEMENTS OF OPERATIONS
For the Year Ended | |||||||||||||||
June 30, | June 30, | ||||||||||||||
2021 | 2020 | ||||||||||||||
REVENUES | |||||||||||||||
Processing revenue | $ | 1,241,077 | $ | - | |||||||||||
TOTAL REVENUES | 1,241,077 | ||||||||||||||
COST OF SERVICES | 606,172 | - | |||||||||||||
GROSS PROFIT | 634,905 | - | |||||||||||||
OPERATING EXPENSES | |||||||||||||||
Depreciation | 45,441 | 3,787 | |||||||||||||
General and administrative | 974,671 | 2,110,541 | |||||||||||||
Total Operating Expenses | 1,020,112 | 2,114,378 | |||||||||||||
OPERATING INCOME (LOSS) | 220,965 | (2,114,328 | ) | ||||||||||||
Other Income (Expense) | |||||||||||||||
- | - | ||||||||||||||
- | - | ||||||||||||||
Total Other Income (Expense) | - |
NET INCOME (LOSS) BEFORE INCOME TAXES
Provision for Income Taxes
NET INCOME (LOSS)
BASIC AND DILUTED EARNINGS (LOSS) PER SHARE
BASIC AND DILUTED WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING
See accompanying notes to financial statements
220,965 | |
- | |
$ | 220,965 |
$ | 0.01 |
24,908,956 |
(2,114,328 )
-
$(2,114,328 )
$(0.12 )
17,746,148
ELINX CORPORATION
(FORMERLY KNOWN AS APERTURE HEALTH, INC.)
STATEMENT OF STOCKHOLDERS' EQUITY
Additional | Total | ||||||||||||||||||||||||||||
Common Stock | Paid-In | Accumulated | Stockholders' | ||||||||||||||||||||||||||
Shares | Amount | Capital | Deficit | Equity | |||||||||||||||||||||||||
Balance, June 30, 2019 | 1,066,956 | $ 1,067 | $ 94,959 | $ | (96,026) | $ | - | ||||||||||||||||||||||
Common stock issued for cash | 50,000 | 50 | 24,950 | - | 25,000 | ||||||||||||||||||||||||
Common stock issued for compensation | 21,267,500 | 21,268 | 1,918,108 | - | 1,939,376 | ||||||||||||||||||||||||
Common stock issued for assets | 2,524,500 | 2,525 | 224,680 | - | 227,205 | ||||||||||||||||||||||||
Net loss for the year | - | - | - | (2,114,328) | (2,114,328) |
Balance, June 30, 2020
Net income for the year
Balance, June 30, 2021
24,908,956 | $ | 24,909 |
- | - | |
24,908,956 | $ | 24,909 |
$ 2,262,697 $
-
$ 2,262,697 $
(2,210,354 | ) | $ | 77,252 | |||||
220,965 | 220,965 | |||||||
(1,989,389 | ) | $ | 298,217 | |||||
See accompanying notes to financial statements
ELINX CORPORATION
(FORMERLY KNOWN AS APERTURE HEALTH, INC.)
STATEMENTS OF CASH FLOWS
For the Years Ended | |||||||||||||||
June 30, | June 30, | ||||||||||||||
2021 | 2020 | ||||||||||||||
OPERATING ACTIVITIES | |||||||||||||||
Net income (loss) | $ | 220,965 | $ | (2,114,328 | ) | ||||||||||
Adjustments to reconcile net income (loss) to net cash provided by operating | |||||||||||||||
activities: | |||||||||||||||
Depreciation | 45,442 | 3,787 | |||||||||||||
Shares issued for stock-based compensation | - | 1,939,375 | |||||||||||||
Changes in operating assets and liabilities | |||||||||||||||
Account receivable | (144,596 ) | ||||||||||||||
Accounts payable and accrued liabilities | 89,605 | 155,025 | |||||||||||||
Net Cash Provided by (Used in) Operating Activities | 211,420 | (16,141 ) | |||||||||||||
INVESTING ACTIVITIES | |||||||||||||||
Purchase of property and equipment | - | - | |||||||||||||
Net Cash Used in Financing Activities | - | - | |||||||||||||
FINANCING ACTIVITIES | |||||||||||||||
Proceeds from issuance of stock for cash | 25,000 | ||||||||||||||
Proceeds from notes payable - related party | 39,486 | ||||||||||||||
Proceeds from notes payable | 114,792 | ||||||||||||||
Net Cash Provided by Financing Activities | 154,278 | - | |||||||||||||
NET INCREASE IN CASH | 365,698 | ||||||||||||||
CASH AT BEGINNING OF PERIOD | 8,859 | - |
CASH AT END OF PERIOD
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION: CASH PAID FOR:
Interest
Income taxes
$ | 374,557 |
$ | - |
$ | - |
$ | - | ||||
$ | - | ||||
$ | - | ||||
NON-CASH INVESTING AND FINANCING ACTIVITIES: | |||
Common shares issued for assets | $ | - $ | 227,205 |
See accompanying notes to financial statements
ELINX CORPORATION
(FORMERLY KNOWN AS APERTURE HEALTH, INC.)
NOTES TO THE FINANCIAL STATEMENTS For the Years Ended June 30, 2021 and 2020
Note 1 - Organization and Operations
The Company, formerly known as Fuel Corporation, and then as Aperture Health, Inc.. (the "Company," which is now known as Elinx Corporation), was incorporated on September 8, 2005 under the laws of the State of Nevada. On January 19, 2019, the Company filed a Certificate of Amendment to its Articles of Incorporation with the Secretary of State of the State of Nevada effecting a name change from Aperture Health, Inc. to Elinx Corporation. On December 18, 2019, the Company entered into an agreement to acquired assets from Crown Financial to participate in the sand fracking business. These assets were entered into from an issuance of the Company's common stock This transaction did not finalize until May of 2020.
Note 2 - Significant and Critical Accounting Policies and Practices
The Management of the Company is responsible for the selection and use of appropriate accounting policies and the appropriateness of accounting policies and their application. Critical accounting policies and practices are those that are both most important to the portrayal of the Company's financial condition and results and require management's most difficult, subjective, or complex judgments, often as a result of the need to make estimates about the effects of matters that are inherently uncertain. The Company's significant and critical accounting policies and practices are disclosed below as required by generally accepted accounting principles.
Basis of Presentation
The accompanying financial statements and related notes have been prepared in accordance with accounting principles generally accepted in the United States of America ("US GAAP"), and with the rules and regulations of the United States Securities and Exchange Commission ("SEC"). The Company has elected June 30th as its fiscal year ending date.
Use of Estimates and Assumptions and Critical Accounting Estimates and Assumptions
The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date(s) of the financial statements and the reported amounts of revenues and expenses during the reporting period(s).
These significant accounting estimates or assumptions bear the risk of change due to the fact that there are uncertainties attached to these estimates or assumptions, and certain estimates or assumptions are difficult to measure or value.
Management bases its estimates on historical experience and on various assumptions that are believed to be reasonable in relation to the financial statements taken as a whole under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources.
Management regularly evaluates the key factors and assumptions used to develop the estimates utilizing currently available information, changes in facts and circumstances, historical experience and reasonable assumptions. After such evaluations, if deemed appropriate, those estimates are adjusted accordingly.
Actual results could differ from those estimates.
Fair Value of Financial Instruments
The Company follows ASC 820, "Fair Value Measurement," to measure and disclose the fair value of its financial instruments. ASC 820 establishes a framework for measuring fair value in accordance with GAAP, and expands
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Aperture Health Inc. published this content on 11 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 February 2022 00:11:03 UTC.