Attached files
VORTEX NETWORK LLC
Financial Statements
(With Compilation Report Thereon)
For the Period Ended June 30, 2018
TABLE OF CONTENTS
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Page
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Compilation Report
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3
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Financial Statements
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Balance Sheet
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4
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Statement of Income
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5
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Statement of Changes in Stockholders' Equity
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6
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2
Compilation Report
To the Board of Directors and Stockholders of VORTEX NETWORK LLC
Des Moines, IA
Management is responsible for the accompanying financial statements of VORTEX NETWORK LLC (a corporation), which comprise the balance sheet as of June 30, 2018, and the related statement of income and changes in stockholders' equity for the month then ended in accordance with accounting principles generally accepted in the United States of America. We have performed a compilation engagement in accordance with Statements on Standards for Accounting and Review Services promulgated by the Accounting and Review Services Committee of the AICPA. We did not audit or review the financial statements nor were we required to perform any procedures to verify the accuracy or completeness of the information provided by management. Accordingly, we do not express an opinion, a conclusion, nor provide any form of assurance on these financial statements.
Management has elected to omit substantially all the disclosures and the statement of cash flows required by accounting principles generally accepted in the United States of America. If the omitted disclosures and the statement of cash flows were included in the financial statements, they might influence the user's conclusions about the Company's financial position, results of operations, and cash flows. Accordingly, the financial statements are not designed for those who are not informed about such matters.
Community CPA & Associates, Inc.
Des Moines, Iowa
September 27, 2018
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VORTEX NETWORK LLC
Balance Sheet
As of June 30, 2018
| Assets | ||||
| Current Assets | ||||
| Cash and Cash Equivalents | 1,669 | |||
| Total Current Assets | 1,669 | |||
| Property, Plant and Equipment | ||||
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Furniture and Fixture
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10,091
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Vehicle
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16,048
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Internet/ Wireless/ Computer
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25,898
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Leasehold Improvement
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75,106
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Data Power Facility - In Progress
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744,397
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Data Power Facility - Completed
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400,000
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Total Property and Equipment
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1,271,540
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Less Accumulated Depreciation
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-
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Net Property, Plant and Equipment
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1,271,540
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Non-Current Assets
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Deferred Tax Assets
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39,360
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Total Non-Current Assets
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39,360
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| Total Assets | 1,312,569 | |||
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Liabilities and Stockholders' Equity
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Current Liabilities
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Accrued Compensation
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129,808
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Account Payable
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744,397
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Payroll Tax Liability
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25,450
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Total Current Liabilities
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899,655
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| Non-Current Liabilities | ||||
| Long-Term Liability | 15,739 | |||
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Total Non-Current Liabilities
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15,739
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Shareholder's Equity
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Opening Balance Equity
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1,000
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Owner's Investment
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790,018
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Accumulated Deficit
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(393,843
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)
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Total Stockholders' Equity
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397,175
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Total Liabilities and Stockholders' Equity
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$
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1,312,569
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See the Compilation Report
4
VORTEX NETWORK LLC
For the Month Ended June 30, 2018
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Revenue
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$
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-
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Operating Expenses
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| Payroll Expenses |
6,739
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General and Administrative Expenses
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21,846
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Other Operating Expenses
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646
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Total Operating Expenses
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29,231
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Loss from Operations
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(29,231
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)
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Non-Operating Expenses
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| Income Tax Expenses | - | |||
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Interest Expenses
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297
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Total Non-Operating Expenses
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297
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Net Gain (Loss)
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$
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(29,528
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)
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See the Compilation Report
5
VORTEX NETWORK LLC
Statement of Stockholders' Equity
For the Month Ended June 30, 2018
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Capital Stock
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Accumulated
Deficit
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Total
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Beginning Equity - August 30, 2017
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$
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1,000
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-
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$ | 1,000 | |||||||
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Stockholders' Investment
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790,018
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-
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790,018 | |||||||||
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Net Gain (Loss)
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-
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(393,843
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) | (393,843 | ) | |||||||
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Balance - June 30, 2018
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$
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791,018
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(393,843
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)
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$ | 397,175 | ||||||
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