The following is a summary of the Applife balance sheet prior to the reverse merger:
| Recapitalization
|
Prepaids
| $
| 5,000
|
Total assets
| $
| 5,000
|
|
|
|
Accounts payable and accrued expenses
| $
| 5,000
|
Series B preferred stock, 4,400 shares, stated value of $440,000
|
| 326,434
|
Total liabilities
|
| 331,434
|
|
|
|
Applife equity at June 13, 2025; 1,040,000 shares of common stock
|
| (326,434)
|
Total liabilities and equity
| $
| 5,000
|
The following table reconciles the elements of the Merger to the Statements of Shareholders' Equity (Deficit) after the reverse merger:
|
| Recapitalization
|
Recognition of Applife equity
| $
| (326,434)
|
Less: transactions costs allocated to SAP equity
|
| (300,000)
|
Effect of Merger, net of transaction costs
| $
| (626,434)
|
The following table details the number of shares of Common Stock issued immediately following the consummation of the merger:
| Number of Shares
|
Common Stock owned by Applife’s Pre-Merger shareholders
| 1,040,000
|
Common Stock consideration issued to SAP due to Merger
| 6,960,000
|
Total outstanding shares of Common Stock immediately after the Merger
| 8,000,000
|
The following table details the number of shares of Series B Preferred Stock issued immediately following the consummation of the Merger:
| Number of Shares
|
Series B Preferred Stock owned by Applife’s Pre-Merger shareholders
| -
|
Series B Preferred Stock consideration issued due to Merger
| 4,400
|
Total outstanding shares of Series B Preferred Stock immediately after the Merger
| 4,400
|
An additional 8,455 shares of Series B Preferred stock were issued in exchange for an assumed liability.
The following table details the number of shares of Series C Preferred Stock issued immediately following the consummation of the Merger:
| Number of Shares
|
Series C Preferred Stock owned by Applife’s Pre-Merger shareholders
| -
|
Series C Preferred Stock consideration issued due to Merger
| 2,500
|
Total outstanding shares of Series C Preferred Stock immediately after the Merger
| 2,500
|
|