Exhibit 1A-15.1
CPA | david morales |
Financial Statements | Accounting | Income Taxes
Metaxchange.AI Inc.
Projected Financial Statements
For the Five (5) years ended September 30, 2028
Tel. 787-597-0137 | e-mail: cpadmorales@gmail.com | |
website: www.cpadmorales.webs.com | ||
Rd. 2 Km. 118.3 Aguadilla, Puerto | Member of The Puerto Rico CPA Society | HC 8 Box 44751 Aguadilla, PR 00603-9462 |
Index
Accountant’s Compilation Report | 3 |
Projected Balance Sheet | 4 |
Projected Income Statement | 5 |
Projected Statement of Cash Flows | 6 |
Notes to the Financial Statements | 7 |
CPA | david morales |
Financial Statements | Accounting | Income Taxes
Accountants' Compilation Report
Mr. Ahmad Moradi President Metaxchange.AI Inc.
6750 Andrews Ave Ste 200
Fort Lauderdale, FL 33309-2180
The Board of Directors of Metaxchange.AI Inc. is responsible for the accompanying Projected Financial Statem nts for the five (5) years ending September 30, 2028 and the notes to these financial statements according to the Generally Accepted Accounting Principles of the United States of America. I have performed this compilation agreement according to the Standards for Accounting and Review Services promulgated by the American Institute of Certified Public Accountants (A.I.C.P.A). This forecast is a representation of the Board of Directors and I have not evaluated information that supports the basis of this forecast. Even if the forecast reach its compliance, there may be differences among the actual and forecast results, because events and circumstances frequently do not occur as expected, and differences can be substantial. We have no responsibility to update this report for events or circumstances that may occur after the date of issuance of this report. I have not audited or reviewed these Financial Statements nor was required to me to verify its accuracy or the completeness of the information provided by the Board of Directors. Accordingly, I do not express any opinion, conclusion or any other type of assurance over these Financial Statements.
/s/ David Morales, CPA
Expires December 1, 2024
Aguadilla, PR
October 23, 2023
Tel. 787-597-0137 | e-mail: cpadmorales@gmail.com | |
website: www.cpadmorales.webs.com | ||
Rd. 2 Km. 118.3 Aguadilla, Puerto | Member of The Puerto Rico CPA Society | HC 8 Box 44751 Aguadilla, PR 00603-9462 |
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Metaxchange.AI Inc
Projected Balance Sheet
as of September 30:
Assets | 2024 | 2025 | 2026 | 2027 | 2028 | |||||||||||||||
Current Assets | ||||||||||||||||||||
Cash and Equivalents | $ | 150,996,528 | $ | 379,428,903 | $ | 932,642,758 | $ | 1,892,821,343 | $ | 2,953,676,367 | ||||||||||
Accounts Receivable | $ | 169,774,856 | $ | 148,417,267 | $ | 78,000,824 | $ | 74,988,184 | $ | 210,812,436 | ||||||||||
Equipment and Mobiliary | 10,168,644 | 10,626,233 | 11,210,676 | 11,883,316 | 13,131,064 | |||||||||||||||
Total Current Assets | $ | 330,940,028 | $ | 538,472,403 | $ | 1,021,854,258 | $ | 1,979,692,843 | $ | 3,177,619,867 | ||||||||||
Property, Plant and Equipment | ||||||||||||||||||||
Various Platform Technologies | $ | 214,800,000 | $ | 205,472,000 | $ | 252,777,600 | $ | 306,262,080 | $ | 371,013,664 | ||||||||||
Total Property, Plant and Equipment | $ | 214,800,000 | $ | 205,472,000 | $ | 252,777,600 | $ | 306,262,080 | $ | 371,013,664 | ||||||||||
Total Assets | $ | 545,740,028 | $ | 743,944,403 | $ | 1,274,631,858 | $ | 2,285,954,923 | $ | 3,548,633,531 | ||||||||||
Liabilities & Stockholders' Equity | ||||||||||||||||||||
Current Liabilities | ||||||||||||||||||||
Accrued Expenses | 103,500 | 121,995 | 142,892 | 170,042 | 204,050 | |||||||||||||||
Total Current Assets | $ | 103,500 | $ | 121,995 | $ | 142,892 | $ | 170,042 | $ | 204,050 | ||||||||||
Long- Term Liabilities | ||||||||||||||||||||
Long-Term Debt | $ | 3,389,548 | $ | 3,542,078 | $ | 3,736,892 | $ | 3,961,105 | $ | 4,377,021 | ||||||||||
Total Liabilities | $ | 3,493,048 | $ | 3,664,073 | $ | 3,879,784 | $ | 4,131,147 | $ | 4,581,071 | ||||||||||
Stockholders ‘Equity | ||||||||||||||||||||
Common Shares | $ | 282,800,000 | $ | 286,940,000 | $ | 291,908,000 | $ | 365,048,000 | $ | 584,468,000 | ||||||||||
Retained Earnings | 113,646,980 | 307,540,330 | 833,044,074 | 1,770,975,776 | 2,813,784,460 | |||||||||||||||
Total Stockholders' Equity | $ | 396,446,980 | $ | 594,480,330 | $ | 1,124,952,074 | $ | 2,136,023,776 | $ | 3,398,252,460 | ||||||||||
Total Liabilities and Stockholders' Equity | $ | 399,940,028 | $ | 598,144,403 | $ | 1,128,831,858 | $ | 2,140,154,923 | $ | 3,402,833,531 |
Unaudited- See Accompanying Notes
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Metaxchange.AI Inc.
Projected Income Statement
for the five (5) years ended September 30:
2024 | 2025 | 2026 | 2027 | 2028 | ||||||||||||||||
Revenues | $ | 273,800,000 | $ | 399,000,000 | $ | 813,960,000 | $ | 1,332,230,790 | $ | 1,472,115,023 | ||||||||||
Direct Costs | $ | 82,479,000 | $ | 86,190,555 | $ | 90,931,036 | $ | 96,386,898 | $ | 106,507,522 | ||||||||||
Gross Margin | $ | 191,321,000 | $ | 312,809,445 | $ | 723,028,964 | $ | 1,235,843,892 | $ | 1,365,607,501 | ||||||||||
General And Administrative Expenses | ||||||||||||||||||||
Advertising and promotion | $ | 436,385 | $ | 453,841 | $ | 476,533 | $ | 505,125 | $ | 545,535 | ||||||||||
Depreciation and amortization | 42,960,000 | 34,368,000 | 27,494,400 | 21,995,520 | 17,596,416 | |||||||||||||||
General and administrative | 314,637 | 320,930 | 328,953 | 337,177 | 347,292 | |||||||||||||||
Office Rent | 1,386,000 | 1,427,580 | 1,498,959 | 1,573,907 | 1,668,341 | |||||||||||||||
Professional Fees | 252,000 | 258,300 | 266,049 | 274,030 | 284,992 | |||||||||||||||
Travel, Meals, and Entertainment | 168,000 | 169,680 | 173,074 | 176,535 | 183,596 | |||||||||||||||
Utilities | 432,000 | 444,960 | 462,758 | 485,896 | 515,050 | |||||||||||||||
Wages and benefits | 31,168,013 | 32,601,503 | 35,046,616 | 37,675,112 | 40,533,224 | |||||||||||||||
Miscellaneous | 394,022 | 397,963 | 401,942 | 405,962 | 422,200 | |||||||||||||||
Total General and Administrative Expenses | $ | 77,511,057 | $ | 70,442,757 | $ | 66,149,284 | $ | 63,429,264 | $ | 62,096,646 | ||||||||||
Earnings Before Interest and Taxes | $ | 113,809,943 | $ | 242,366,688 | $ | 656,879,680 | $ | 1,172,414,628 | $ | 1,303,510,855 | ||||||||||
Income Tax Expense | $ | - | $ | 48,473,338 | $ | 131,375,936 | $ | 234,482,926 | $ | 260,702,171 | ||||||||||
Net Income (Loss) | $ | 113,809,943 | $ | 193,893,350 | $ | 525,503,744 | $ | 937,931,702 | $ | 1,042,808,684 | ||||||||||
Prior period Retained Earnings | $ | (162,963 | ) | $ | 113,646,980 | $ | 307,540,330 | $ | 833,044,074 | $ | 1,770,975,776 | |||||||||
End of year Retained Earnings | $ | 113,646,980 | $ | 307,540,330 | $ | 833,044,074 | $ | 1,770,975,776 | $ | 2,813,784,460 |
Unaudited- See Notes to the Financial Statements
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Metaxchange.AI Inc
Statement of Cash Flows
for the years ended September 30:
2024 | 2025 | 2026 | 2027 | 2028 | ||||||||||||||||
Net Income | $ | 113,809,943 | $ | 193,893,350 | $ | 525,503,744 | $ | 937,931,702 | $ | 1,042,808,684 | ||||||||||
Plus: Depreciation and Amortization | $ | 42,960,000 | $ | 34,368,000 | $ | 27,494,400 | $ | 21,995,520 | $ | 17,596,416 | ||||||||||
Adjustments per changes in Balance Sheet items: (Increase) Decrease in Accounts Receivable Increase (Decrease) in Accounts Payable | $ | 3,349,548 | $ | 171,025 | $ | 215,711 | $ | 251,363 | $ | 449,924 | ||||||||||
Total Cash (used) Provided by operations | $ | 160,119,491 | $ | 228,432,375 | $ | 553,213,855 | $ | 960,178,585 | $ | 1,060,855,024 | ||||||||||
Cash (Used) Provided by Financing Activities-Dividends | ||||||||||||||||||||
Cash (Used) Provided by Investing Activities | $ | (69,000,000 | ) | $ | - | $ | - | $ | - | $ | - | |||||||||
Total Cash (Used) Provided during the period | $ | 91,119,491 | $ | 228,432,375 | $ | 553,213,855 | $ | 960,178,585 | $ | 1,060,855,024 | ||||||||||
Cash at beginning of period | $ | 59,877,037 | $ | 150,996,528 | $ | 379,428,903 | $ | 932,642,758 | $ | 1,892,821,343 | ||||||||||
Cash at end of period | $ | 150,996,528 | $ | 379,428,903 | $ | 932,642,758 | $ | 1,892,821,343 | $ | 2,953,676,367 |
Unaudited- See Notes to the Financial Statements
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Metaxchange.AI Inc.
Notes to the Projected Financial Statements
For the five (5) years ended September 30, 2028
1. | Description of Business. Metaxchange.AI Inc. (the Company) is a Florida corporation organized on November 18, 2021. The Company provides Data Clean Room also known as DCR serving privacy and secured minded online publishers and printers (https://metaxchangeai.com). It will also provide these services under various subscriptions capacities. The services will be available under modern technologies that will eliminate the use of “cookies”. Metaxchange.AI Inc. will also sell and obtain benefits from those developed products. The Company developed these projections to provide the users of this statements a key source of its financial operations for the next five years, along as an explanation of the uses of raised money as it goes public. |
2. | Summary of significant Accounting Policies. |
Cash and Cash Equivalents- The Company considers all highly liquid instruments with original maturities of the three months to be cash equivalents. The Company had no cash equivalents at the date of the Financial Statements.
Intangible Assets- Intangible assets are stated at the basis (cost) to the Company. Intangible assets consists of costs associated with the development of technology, including corporate website design and construction, licenses, patents and copyright costs; and technology development costs.
Impairment- Long lived assets held and used by the Company are reviewed for possible impairment whenever events or changes in circumstances indicate the carrying amount of an assets may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of the assets to the future net cash flows expected to be generated by the asset. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds the fair value of the assets.
Revenue recognition- The Company provides a secure intelligent media server platform for advertising and entertainment content providers without the cost of building out infrastructure to the clients. These client centric and turnkey solutions include creative productions and technology services.
Use of Estimates- The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates.
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Metaxchange.AI Inc.
Notes to the Projected Financial Statements
For the five (5) years ended September 30, 2028
3. | Concentrations. The Company maintains its cash in deposits accounts, which at times, may exceed federally insured limits. The Federal Deposit Insurance Corporation (FDIC) insures amounts up to $250,000. As of September 30, 2023, there was no amount in of the FDIC limit. |
4. | Income Tax- Metaxchange.AI Inc. is subject to Federal Income Tax and Florida State Income Tax for its net income and gains. Federal tax is 21% and Florida State tax is 5.5%. |
5. | Subsequent Events. Generally Accepted Accounting Principles requires to be disclosed any major subsequent events deemed to be significant even if the event occurs after the date of the Financial Statements information, but before its issuance. As of the date of issuance of these Financial Statements, October 23, 2023, there are no subsequent events required to be disclosed. |
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