DECENTRALIZED CRYPTO FINANCIAL INC.
(Exact Name of Registrant as Specified in its Charter)
Delaware
85-2718015
(State or Other Jurisdiction of Incorporation or Organization)
(I.R.S. Employer Identification Number)
4795 Meadow Wood Lane, #200W
Chantilly, Virginia 20151
(703) 688-3440
Item 1. Business
Decentralized Crypto Financial Inc. ("DeCryptoFi" or "Company?)
is a Delaware corporation and online platform offering
decentralized finance services. The following information should
be read together with the Company's financial statements (see
Item 7).
DeCryptoFi's primary offering is a platform that facilitates the
comprehension and compliance of businesses with SEC regulations
related to public and private capital-raising. The service
includes educating businesses about various capital-raising
options, automating relevant filings and documentation, and
providing a comprehensive list of available offerings.
DeCryptoFi's market distribution is tailored towards small and
mid-sized businesses seeking alternative capital-raising
methods. The online platform serves as a resource for businesses
looking to pursue public offerings or acceptable private
offerings while remaining fully compliant with SEC regulations.
DeCryptoFi's has wound down its business operations and
dissolved as of April 16, 2024 with the consent and vote of the
Board of Directors and shareholders.
Item 2. Management?s Discussion and Analysis of Financial
Condition and Results of Operations
DeCryptoFi does not have any earnings or revenue which
demonstrates no material changes from the Company's Offering. As
of December 31, 2023, DeCryptoFi issued 6,238,592.47 shares as
part of the Company's work compensation plan. The Company has
decided with the consent of the Board of Directors and
shareholders to dissolve.
Item 3. Directors and Officers
Significant Employees
Name
Position
Age
Term of
Office
(start
date/end
date)
Approximate
hours per
week for
part time
employees
Executive
Officers:
Nicholas
Scherling
President/CEO,
Secretary
41
August
2020-April
2024
Full time
Nicholas Scherling is the founder and CEO of DeCryptoFi.
Compensation
Name
Capacities
in which
compensatio
n was
received
(e.g. CEO,
director,
etc.)
Cash
compensati
on
Other
compensati
on
Total
compensati
on
Nicholas
Scherlin
g
CEO/Secreta
ry
$0
$0
$0
Item 4. Security Ownership of Management and Certain
Securityholders
Prior to dissolution, Nicholas Scherling owned 300,000,000
shares of DeCryptoFi stock.
Item 5. Interest of Management and Others in Certain
Transactions
None.
Item 6. Other Information
None.
Item 7. Financial Statements
DECENTRALIZED CRYPTO FINIANCIAL INC.
BALANCE SHEETS
As of December 31, 2023
12/31/2022 to 12/31/2023
ASSETS
Current assets:
Cash and cash equivalents $ 7,256.06
Accounts receivable 0
Prepaid expenses 0
_______________
Total current assets $ 0
Property and equipment, net 0
Other assets:
Goodwill, net 0
Investments in equity securities 30,000
Deposits 0
_______________
Total assets $ 37,256.06
12/31/2022 to 6/30/2023
LIABILITIES AND MEMBER'S EQUITY
Current liabilities:
Line of credit $ 0
Accounts payable and accrued expenses 613,688.96
Accrued payroll and related liabilities 0
Notes payable, current portion 0
Deferred rent and other current liabilities 0
Deferred compensation liability 0
_______________
Total current liabilities 0
Notes payable, less current portion 0
Total liabilities 613,688.96
Member's equity (576,432.90)
_______________
Total liabilities and member's equity $ 37,256.06
12/31/2022 to 12/31/2023
STATEMENTS OF OPERATIONS
Revenue 0
_______________
Total revenue 0
Direct cost of revenue 0
_______________
Gross profit 0
Indirect costs of revenue Costs 0
not allocable 0
_______________
Operating income 0
Other income (expense):
Other expense 0
Interest expense 0
Other income 0
Total other income 0
_______________
Net income $ 0
Basic Earnings Per Share $ 0
12/31/2022 to 12/31/2023
STATEMENTS OF STOCKHOLDERS' EQUITY
Members Equity
Common Stock Shares
Amount
Balance as of June 30, 2023 300,000,000
$ 0
Additional Paid-in Capital 6,800.00
$ 0
Stock-based compensation 6,238,592.47
$ 0
Exercise of stock options ----
----
12/31/2022 to 12/31/2023
STATEMENTS OF CASH FLOWS
Cash flows from operating activities:
Net income $ 0
Adjustments to reconcile net income to
net cash (used in) provided by operating
activities:
Depreciation and amortization 0
Amortization of goodwill 0
Loss on disposal of assets
Gain on investments 0
Deferred rent and other current liabilities 0
Change in:
Accounts receivable 0
Prepaid expenses 0
Deposits
Accounts payable and accrued expenses 0
Accrued payroll and related liabilities 0
Deferred compensation liability 0
_______________
Net cash provided by (used in) operating activities 0
_______________
Cash flows from investing activities:
Purchase of life insurance policies 0
Proceeds from sale of property and equipment
Purchase of property and equipment 0
_______________
Net cash used in investing activities 0
_______________
Cash flows from financing activities:
Net borrowings on (repayments on) line of credit 0
Repayments on notes payable 0
Contributions from member 0
Distributions to member _______________
Net cash provided by (used in) financing
activities 0
Net change in cash and cash equivalents 0
Cash and cash equivalents, beginning of year 0
_______________
Cash and cash equivalents, end of year $ 0
Supplemental disclosure of cash flow information:
Cash paid for interest $ 0
NOTES TO FINANCIAL STATEMENT
The accompanying notes are an integral part of this financial
statement.
ORGANIZATION AND NATURE OF BUSINESS
We are an early-stage financial technology company that has
created a proprietary software that will allow small and mid-
sized companies to fully understand the complexities surrounding
initial public offerings and private placement offerings. Our
software is geared towards companies that seek alternatives to
the issuance of bank loans in order to raise capital. Our
company allows for the automation of various Self-Regulatory
Organizations (SRO) initial and ongoing regulatory reporting and
filings, and assists companies that lack the relevant expertise
and/or personnel to be fully compliant with investor disclosure
obligations, privacy notifications, Anti-Money laundering
regulations, etc. Our proprietary software also has the
capability to track various asset classes and automate investor
documentation, such as proxy statements, dividend payments, and
GDPR notifications.
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
BASIS OF PRESENTATION
The accounting policies of the Company are in accordance with
accounting principles generally accepted in the United States of
America applied on a basis consistent with that of the preceding
years. Outlined below are those policies considered particularly
significant.
ESTIMATES
The preparation of financial statements in accordance 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 and may
have impact on future periods.
STOCKHOLDERS? EQUITY
Equity Structure
The Company is authorized to issue 500,000,000 shares of common
stock, par value $.0001 (?Common Stock?). As of December 31,
2023, the Company has 300,000,000 shares of Common Stock
outstanding. A general description of these securities is as
follows:
Common Stock
Holders of Common Stock are entitled to one vote per share. For
the fiscal year ending December 31, 2023, the authorized capital
of the Company consists of common stock of 500,000,000 shares
with 300,000,000 shares issued and outstanding with a $0.0001
par value.
Preferred Stock The company is not issuing any preferred stocks,
warrants, or options with this filing (ASC 505-10).
Additionally, there will be no equity-based payments to Non-
employees (ASC 505-50).
INCOME TAXES
The Company, with the consent of its stockholders, has elected C
corporation status.
EARNINGS PER SHARE (EPS)
The Company adopted calculating basic EPSs (FASB ASC 260) by
dividing income available to common stockholders by the weighted
average of number of common shares outstanding.
Item 8. Exhibits
None.
SIGNATURES
Pursuant to the requirements of Regulation A, the issuer has
duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
Decentralized Crypto Financial Inc.:
By: /s/ Nicholas Scherling
Nicholas Scherling
Chief Executive Officer
Date: April XX, 2024
Pursuant to the requirements of Regulation A, this report has
been signed below by the following persons on behalf of the
issuer and in the capacities and on the dates indicated.
By: /s/ Nicholas Scherling
Nicholas Scherling
Chief Executive Officer/Principal Financial Officer/Principal
Accounting Officer
Date: April XX, 2024