Optileaf (OPLF) Financial Report Summaries

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From filing 10-K 2020 FY

Financial report summary

Management Discussion

The information and financial data discussed below is derived from our audited financial statements for the years ended December 31, 2019 and 2018. The audited financial statements were prepared and presented in accordance with generally accepted accounting principles in the United States. The information and financial data discussed below is only a summary and should be read in conjunction with the related notes contained elsewhere in this prospectus. The financial statements contained elsewhere in this prospectus fully represent our financial condition and operations; however, they are not indicative of our future performance.
We were incorporated under the laws of the State of Florida on August 11, 2014. OptiLeaf, Inc. was formed to provide a world-class fully integrated turn-key growth management system for the cannabis industry to help dispensary owners, grow operations and caregivers increase their sales and reduce costs, increase their company’s productivity and profitability and reduce or eliminate the need for manual labor while maximizing yield. OptiLeaf’s target market includes dispensaries and grow operations. On February 2, 2021 the Company entered into an agreement to sell the “Cannabis” intellectual property and has commenced the search for a new enterprise.
Through December 31, 2020 our cumulative deficit was $870,254 compared to a cumulative deficit as of December 31, 2019 of $873,867. On December 31, 2020 we had total current assets of $33,655 and total current liabilities of $25,548 compared to total current assets of $32,129 and total current liabilities of $39,996 on December 31, 2019.