Specificity (SPTY) 10-Q 17 May 23 2023 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Mar. 31, 2023	May 11, 2023
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Mar. 31, 2023
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2023
Current Fiscal Year End Date	--12-31
Entity File Number	333-257323
Entity Registrant Name	SPECIFICITY, INC.
Entity Central Index Key	0001840102
Entity Tax Identification Number	85-4017786
Entity Incorporation, State or Country Code	NV
Entity Address, Address Line One	410 S. Ware Blvd.
Entity Address, Address Line Two	Suite 508
Entity Address, City or Town	Tampa
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	33619
City Area Code	(813)
Local Phone Number	364-4744
Title of 12(b) Security	Common Stock
Trading Symbol	SPTY
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Elected Not To Use the Extended Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		10,624,243

BALANCE SHEETS (UNAUDITED)

BALANCE SHEETS (UNAUDITED) - USD ($)	Mar. 31, 2023	Dec. 31, 2022
Current assets
Cash and cash equivalents	$ 50,089	$ 22,818
Accounts receivable		8,182
Prepaid expenses and other current assets	108,759	235,375
Total current assets	158,848	266,375
Property and equipment, net	68,139	70,722
Right of use asset	54,276	64,632
Total assets	281,263	401,729
Current liabilities:
Account payable	90,114	93,867
Accrued liabilities	33,576	37,828
Accrued interest, related party	12,500
Note payable	104,770
Related party advances	368,172	193,739
Right of use liability	44,233	43,909
Total current liabilities	653,365	369,343
Long term liabilities -
Related party notes payable	1,000,000	1,000,000
Right of use liability, net of current portion	10,043	20,723
Total liabilities	1,663,408	1,390,066
Stockholders’ Deficit:
Common stock, $0.001 par value; 50,000,000 shares authorized, 10,682,584 and 10,652,584 shares issued and outstanding as of March 31, 2023 and December 31, 2022, respectively	10,682	10,652
Additional paid-in capital	4,476,383	4,401,413
Accumulated deficit	(7,270,210)	(6,801,402)
Total stockholders’ deficit	(1,382,145)	(988,337)
Total liabilities and stockholders’ deficit	281,263	401,729
Series A Preferred Stock [Member]
Stockholders’ Deficit:
Preferred stock value	1,000	1,000
Series B Preferred Stock [Member]
Stockholders’ Deficit:
Preferred stock value	$ 1,400,000	$ 1,400,000

BALANCE SHEETS (UNAUDITED) (Par

BALANCE SHEETS (UNAUDITED) (Parenthetical) - $ / shares	Mar. 31, 2023	Dec. 31, 2022
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	50,000,000	50,000,000
Common stock, shares issued	10,682,584	10,652,584
Common stock, shares outstanding	10,682,584	10,652,584
Series A Preferred Stock [Member]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	1,000,000	1,000,000
Preferred stock, shares issued	1,000,000	1,000,000
Preferred stock, shares outstanding	1,000,000	1,000,000
Series B Preferred Stock [Member]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	560,000	560,000
Preferred stock, shares issued	560,000	560,000
Preferred stock, shares outstanding	560,000	560,000

STATEMENTS OF OPERATIONS (UNAUD

STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Income Statement [Abstract]
Revenue, net	$ 231,118	$ 270,850
Cost of revenues	94,205	150,890
Gross profit	136,913	119,960
Operating expenses:
Sales and marketing	10,080	12,880
General and administrative expenses, including stock based compensation of $137,356 and $600,000, respectively	561,041	1,335,129
Officer compensation	16,500	95,530
Total operating expenses	587,621	1,443,539
Loss from operations	(450,708)	(1,323,579)
Other income (expense):
Interest expense	(18,100)	(10,548)
Total other income (expense)	(18,100)	(10,548)
Net loss	$ (468,808)	$ (1,334,127)
Basic and diluted net loss per common share attributable to common stockholders	$ (0.04)	$ (0.15)
Weighted-average number of shares used in computing basic and diluted per share amounts	10,652,584	8,875,895

STATEMENTS OF OPERATIONS (UNA_2

STATEMENTS OF OPERATIONS (UNAUDITED) (Parenthetical) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Income Statement [Abstract]
Stock-based compensation	$ 137,356	$ 600,000

STATEMENTS OF STOCKHOLDERS' EQU

STATEMENTS OF STOCKHOLDERS' EQUITY (DEFICIT) (UNAUDITED) - 3 months ended Mar. 31, 2023 - USD ($)	Preferred Stock Series A [Member]	Preferred Stock Series B [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Beginning balance, value at Dec. 31, 2022	$ 1,000	$ 1,400,000	$ 10,652	$ 4,401,413	$ (6,801,402)	$ (988,337)
Beginning balance, shares at Dec. 31, 2022	1,000,000	560,000	10,652,584
Common shares issued for services			$ 30	74,970		75,000
Common shares issued for services, shares			30,000
Net loss					(468,808)	(468,808)
Ending balance, value at Mar. 31, 2023	$ 1,000	$ 1,400,000	$ 10,682	$ 4,476,383	$ (7,270,210)	$ (1,382,145)
Ending balance, shares at Mar. 31, 2023	1,000,000	560,000	10,682,584

STATEMENTS OF CASH FLOWS (UNAUD

STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (468,808)	$ (1,334,127)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation	137,356	600,000
Depreciation	2,583	2,246
Changes in operating assets and liabilities:
Accounts receivable	8,182
Related party receivables
Prepaids and other current assets	(10,740)	(11,349)
Accounts payable	(3,753)	42,646
Accrued liabilities	(4,252)	(36,079)
Net cash used in operating activities	(326,932)	(736,663)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property and equipment		(9,207)
Net cash used in investing activities		(9,207)
CASH FLOWS FROM FINANCING ACTIVITIES:
Net borrowings on notes payable	104,770
Advances from related party	174,433
Payment of deferred offering costs		(19,246)
Proceeds from sale of common stock	75,000	471,967
Net cash provided by financing activities	354,203	452,721
Change in cash and cash equivalents	27,271	(293,149)
Cash and cash equivalents, beginning of period	22,818	637,841
Cash and cash equivalents, end of period	50,089	344,692
Supplemental disclosures of cash flow information:
Cash paid for interest	3,100	10,548
Cash paid for income taxes
Non-cash investing and financing activities:
Right of use asset and liability		$ 104,665

ORGANIZATION AND DESCRIPTION OF

ORGANIZATION AND DESCRIPTION OF BUSINESS	3 Months Ended
	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION AND DESCRIPTION OF BUSINESS	NOTE 1 - ORGANIZATION AND DESCRIPTION OF BUSINESS Specificity, Inc. (the “Company”) is a Nevada Corporation incorporated on November 25, 2020 (“Inception”). The Company is a full-service digital marketing firm that delivers cutting-edge marketing solutions to business-to-business clients as well as business to consumer clients. The Company has developed tools that allow us to identify and market to people who are actively in the buying cycle. We take advantage of the real-time messaging opportunities digital marketing offers to give small and medium-sized businesses a fair chance at online traffic.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The Company’s financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The accompanying unaudited interim consolidated financial statements have been prepared by the Company pursuant to the rules and regulations of the United States Securities and Exchange Commission. Certain information and disclosures normally included in annual financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted pursuant to such rules and regulations. In the opinion of management, all adjustments and disclosures necessary for a fair presentation of these consolidated financial statements have been included. Such adjustments consist of normal recurring adjustments. These interim consolidated financial statements should be read in conjunction with the audited consolidated financial statements of the Company for the year ended December 31, 2022. The results of operations for the three months ended March 31, 2023 are not indicative of the results that may be expected for the full year. Use of Estimates The preparation of the financial statements in conformity with generally accepted accounting principles 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 of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Concentration of Credit Risk Cash and cash equivalents are maintained at financial institutions and, at times, balances may exceed federally insured limits of $ 250,000 Fair Value Measurements The Company follows FASB ASC 820, Fair Value Measurements and Disclosures Level 1 Quoted market prices available in active markets for identical assets or liabilities as of the reporting date. Level 2 Pricing inputs other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reporting date. Level 3 Pricing inputs that are generally unobservable inputs and not corroborated by market data. Financial assets are considered Level 3 when their fair values are determined using pricing models, discounted cash flow methodologies or similar techniques and at least one significant model assumption or input is unobservable. The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. If the inputs used to measure the financial assets and liabilities fall within more than one level described above, the categorization is based on the lowest level input that is significant to the fair value measurement of the instrument. The carrying amounts reported in the Company’s financial statements for cash, accounts receivable, prepaids and other current assets, accounts payable, etc. approximate their fair value because of the immediate or short-term mature of these financial instruments. Per Share Information Basic net income (loss) per common share is computed by dividing net income (loss) by the weighted average number of shares of common stock outstanding during the year. Diluted net income (loss) per common share is computed by dividing net income (loss) by the weighted average number of shares of common stock outstanding during the period, increased by the potentially dilutive common shares that were outstanding during the period. As of March 31, 2023 and 2022, the Company does no New Accounting Pronouncements The FASB issues ASUs to amend the authoritative literature in ASC. There have been a number of ASUs to date that amend the original text of ASC. The Company believes those issued to date either (i) provide supplemental guidance, (ii) are technical corrections, (iii) are not applicable to the Company or (iv) are not expected to have a significant impact on the Company.

GOING CONCERN

GOING CONCERN	3 Months Ended
	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
GOING CONCERN	NOTE 3 – GOING CONCERN As reflected in the accompanying financial statements, during the three months ended March 31, 2023, the Company incurred a net loss of $ 468,808 326,932 While the Company is continuing operations and generating revenues, the Company’s cash position is not significant enough to support the Company’s daily operations. To fund operations and reduce the working capital deficit, the Company has raised capital through the sale of common and preferred stock as well as monies advanced from related parties. While the Company believes in the viability of its strategy to generate revenues and in its ability to raise additional funds, there can be no assurances to that effect, nor can there be assurance that such funds will be at acceptable terms. The ability of the Company to continue as a going concern is dependent upon our ability to further implement its business plan and generate revenues and cash flows. The financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.

FINANCIAL STATEMENT ELEMENTS

FINANCIAL STATEMENT ELEMENTS	3 Months Ended
	Mar. 31, 2023
Quarterly Financial Information Disclosure [Abstract]
FINANCIAL STATEMENT ELEMENTS	NOTE 4 – FINANCIAL STATEMENT ELEMENTS In 2020, the Company purchased software for which is to be used in operations with a $ 50,000

ADVANCES AND NOTES PAYABLE

ADVANCES AND NOTES PAYABLE	3 Months Ended
	Mar. 31, 2023
Debt Disclosure [Abstract]
ADVANCES AND NOTES PAYABLE	NOTE 5 – ADVANCES AND NOTES PAYABLE On January 13, 2021, the Company entered into a share purchase agreement with the Company’s Chief Executive Officer to acquire 80 1.0 1.0 5 12,500 12,500 The Company’s chief executive officer and a member of management have advanced the Company funds for operations. The advances do not incur interest and are due on demand. As of March 31, 2023, the balance due on the advances was $ 368,172 10,000 On March 2, 2023, the Company entered into a revenue purchase agreement with a third party. Under the terms of the agreement, the Company received proceeds of $ 120,000 4,700 200,000

COMMITMENTS AND CONTIGENCIES

COMMITMENTS AND CONTIGENCIES	3 Months Ended
	Mar. 31, 2023
Commitments and contingencies
COMMITMENTS AND CONTIGENCIES	NOTE 6 - COMMITMENTS AND CONTIGENCIES Lease The Company leases offices used for operations under a non-cancelable agreement. Rent expense for the three months ended March 31, 2023 and 2022 was $ 26,280 35,058 104,665 3 Litigation The Company is not party to any pending or threatened litigation. Significant Contracts On January 1, 2021, the Company entered into an employment contract with its Chief Executive Officer for which the initial term of the agreement is for one year and renews automatically annually. If the Chief Executive Officer is terminated without cause, then the remaining current contract year shall be paid. During the three months ended March 31, 2023, and 2022 the Company accrued or paid either the Chief Executive Officer and/or entities affiliated with the Chief Executive Officer $ 16,500 95,530 15,000 See Notes 5 and 7 for additional payments to the related party.

STOCKHOLDERS_ EQUITY (DEFICIT)

STOCKHOLDERS’ EQUITY (DEFICIT)	3 Months Ended
	Mar. 31, 2023
Equity [Abstract]
STOCKHOLDERS’ EQUITY (DEFICIT)	NOTE 7 – STOCKHOLDERS’ EQUITY (DEFICIT) Series A Preferred Stock The Company is authorized to issue 1,000,000 0.001 The holder of the Series A preferred stock is entitled to 80% of all voting rights available at the time of any vote. Series B Preferred Stock The Company is authorized to issue 260,000 shares of $ 0.001 560,000 Common Stock The Company is authorized to issue 50,000,000 0.001 During the three months ended March 31, 2022 the Company sold 314,644 0.50 1.50 471,967 19,246 30,000 2.50 75,000 . 75,000 5.00 2

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	3 Months Ended
	Mar. 31, 2023
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 8 – SUBSEQUENT EVENTS Management has evaluated subsequent events pursuant to the requirements of ASC Topic 855 and has determined that no material subsequent events exist other than those disclosed.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The Company’s financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The accompanying unaudited interim consolidated financial statements have been prepared by the Company pursuant to the rules and regulations of the United States Securities and Exchange Commission. Certain information and disclosures normally included in annual financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted pursuant to such rules and regulations. In the opinion of management, all adjustments and disclosures necessary for a fair presentation of these consolidated financial statements have been included. Such adjustments consist of normal recurring adjustments. These interim consolidated financial statements should be read in conjunction with the audited consolidated financial statements of the Company for the year ended December 31, 2022. The results of operations for the three months ended March 31, 2023 are not indicative of the results that may be expected for the full year.
Use of Estimates	Use of Estimates The preparation of the financial statements in conformity with generally accepted accounting principles 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 of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Concentration of Credit Risk	Concentration of Credit Risk Cash and cash equivalents are maintained at financial institutions and, at times, balances may exceed federally insured limits of $ 250,000
Fair Value Measurements	Fair Value Measurements The Company follows FASB ASC 820, Fair Value Measurements and Disclosures Level 1 Quoted market prices available in active markets for identical assets or liabilities as of the reporting date. Level 2 Pricing inputs other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reporting date. Level 3 Pricing inputs that are generally unobservable inputs and not corroborated by market data. Financial assets are considered Level 3 when their fair values are determined using pricing models, discounted cash flow methodologies or similar techniques and at least one significant model assumption or input is unobservable. The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. If the inputs used to measure the financial assets and liabilities fall within more than one level described above, the categorization is based on the lowest level input that is significant to the fair value measurement of the instrument. The carrying amounts reported in the Company’s financial statements for cash, accounts receivable, prepaids and other current assets, accounts payable, etc. approximate their fair value because of the immediate or short-term mature of these financial instruments.
Per Share Information	Per Share Information Basic net income (loss) per common share is computed by dividing net income (loss) by the weighted average number of shares of common stock outstanding during the year. Diluted net income (loss) per common share is computed by dividing net income (loss) by the weighted average number of shares of common stock outstanding during the period, increased by the potentially dilutive common shares that were outstanding during the period. As of March 31, 2023 and 2022, the Company does no
New Accounting Pronouncements	New Accounting Pronouncements The FASB issues ASUs to amend the authoritative literature in ASC. There have been a number of ASUs to date that amend the original text of ASC. The Company believes those issued to date either (i) provide supplemental guidance, (ii) are technical corrections, (iii) are not applicable to the Company or (iv) are not expected to have a significant impact on the Company.

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Accounting Policies [Abstract]
FDIC limit	$ 250,000
Antidilutive securities	0	0

GOING CONCERN (Details Narrativ

GOING CONCERN (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Net loss	$ 468,808	$ 1,334,127
Ney cash used in operating activities	$ 326,932	$ 736,663

FINANCIAL STATEMENT ELEMENTS (D

FINANCIAL STATEMENT ELEMENTS (Details Narrative)	1 Months Ended
	Dec. 31, 2020 USD ($)
Quarterly Financial Information Disclosure [Abstract]
Payments to acquire software	$ 50,000

ADVANCES AND NOTES PAYABLE (Det

ADVANCES AND NOTES PAYABLE (Details Narrative) - USD ($)			1 Months Ended	3 Months Ended
	Mar. 02, 2023	Jan. 13, 2021	May 15, 2023	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Offsetting Assets [Line Items]
Related party advances				$ 368,172		$ 193,739
Subsequent Event [Member]
Offsetting Assets [Line Items]
Related party advances			$ 10,000
Share Purchase Agreement [Member] | Pickpocket, Inc. [Member]
Offsetting Assets [Line Items]
Voting percentage		80%
Purchase price		$ 1,000,000
Transactions costs		$ 1,000,000
Interest rate		5%
Interest paid				12,500	$ 12,500
Accrued Interest				$ 12,500
Revenue Purchase Agreement [Member] | Third Party [Member]
Offsetting Assets [Line Items]
Proceeds from loan	$ 120,000
Periodic payment	$ 4,700
Revenue Purchase Agreement [Member] | Subsequent Event [Member] | Third Party [Member]
Offsetting Assets [Line Items]
Proceeds from loan			$ 200,000

COMMITMENTS AND CONTIGENCIES (D

COMMITMENTS AND CONTIGENCIES (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022	Jan. 02, 2022
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]
Right of use asset	$ 54,276		$ 64,632	$ 104,665
Lease Liability				$ 104,665
Borrowing rate	3%
Officer compensation	$ 16,500	$ 95,530
Amounts due to related party	15,000
Chief Executive Officer [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]
Rent expense	26,280	35,058
Officer compensation	$ 16,500	$ 95,530

STOCKHOLDERS_ EQUITY (DEFICIT)

STOCKHOLDERS’ EQUITY (DEFICIT) (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Class of Stock [Line Items]
Common stock, shares authorized	50,000,000		50,000,000
Common stock, par value	$ 0.001		$ 0.001
Proceeds from issuance of common stock	$ 75,000	$ 471,967
Common Stock [Member] | Various Investors [Member]
Class of Stock [Line Items]
Number of stock sold	30,000	314,644
Share price	$ 2.50
Proceeds from issuance of common stock	$ 75,000	$ 471,967
Offering costs		$ 19,246
Number of warrants issued		75,000
Exercise price		$ 5
Expiry term		2 years
Common Stock [Member] | Various Investors [Member] | Minimum [Member]
Class of Stock [Line Items]
Share price		$ 0.50
Common Stock [Member] | Various Investors [Member] | Maximum [Member]
Class of Stock [Line Items]
Share price		$ 1.50
Series A Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, shares authorized	1,000,000		1,000,000
Preferred stock, par value	$ 0.001		$ 0.001
Preferred stock, voting rights	The holder of the Series A preferred stock is entitled to 80% of all voting rights available at the time of any vote.
Series B Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, shares authorized	560,000		560,000
Preferred stock, par value	$ 0.001		$ 0.001