ADD EXHB 5 ex1a15_1.htm EXHIBIT 1A-15.1

 

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

 3 
 

 

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

 

 4 
 

 

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

 

 5 
 

 

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

 

 6 
 

 

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.

 

 7 
 

 

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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