Muhammad Sadaqat

VIRTELLIGENCE INC Balance Sheet As of August 31, 2023 Total ASSETS Current Assets Bank Accounts 1000 Checking-Fidelity 4,529.52 1007 PPP Proceeds Account-2301 0.00 1008 Checking - Fidelity 0.00 1009 Checking- Fidelity 7502 93,359.04 1010 Savings-Fidelity 0.00 Clearing Account, Barter Account -50,860.00 Recruit BPM **4518 Total Bank Accounts 0.00 $ 47,028.56 Accounts Receivable 1200 Accounts Receivable 822,680.00 2450A Accrued Revenue - AR Total 1200 Accounts Receivable Total Accounts Receivable 0.00 $ 822,680.00 $ 822,680.00 Other Current Assets 1085 Allowance for Bad Debts 0.00 1088 Due from ARAAZ 0.00 1090 Due from VIRT FZE 1,195.52 1091 Due to Officer 0.00 1100 Loan from Officer 0.00 12000 Undeposited Funds 0.00 1300 Prepaid 98,722.32 2450 Accrued Revenue 0.00 2470 Loans to Employees 0.00 Total Other Current Assets Total Current Assets $ 99,917.84 $ 969,626.40 Fixed Assets 2080 Office Equipment 12,654.10 2110 Computer Equipment 129,903.64 2120 Furniture & Fixtures 94,419.60 2160 Auto 128,370.83 2340 Accumulated Depreciation Total Fixed Assets -363,736.37 $ 1,611.80 $ 4,229.40 $ 975,467.60 Other Assets 2600 Rental Deposit Total Other Assets TOTAL ASSETS LIABILITIES AND EQUITY Liabilities Current Liabilities 4,229.40 Accounts Payable 3100 Accounts Payable Total Accounts Payable 335,662.90 $ 335,662.90 $ 1,449.71 Credit Cards 1020 American Express - Starwood Total Credit Cards 1,449.71 Other Current Liabilities 1050 PPP LOAN 1,397,400.00 2100*OE Payroll Liabilities*OE 0.00 3321 Dep Card 11,074.96 3322 Dental Insurance 0.00 3323 Medical -12.00 3324 Flexible Spending 16,575.23 -k 1,632.71 3327 Oregon WBF Tax 0.00 3328 Other Current Liabilities -13,465.06 3329 Roth -982.17 3331 Garnishments Payable 0.00 3332 Child Support 0.00 3340 EE Federal Withholding Payable 0.00 3350 EE State Withholding Payable 0.00 3351 UT State Income Tax 0.00 3352 NY State Disability Insurance - 0.00 3353 NM Workers' Comp Admin Fee - ER 0.00 3360 EE Local Withholding 0.00 3370 EE SUI/SDI 0.00 3380 EE Social Security 0.00 3390 EE Medicare 0.00 3400 ER Social Security Payable 0.00 3410 ER Medicare Payable 0.00 3420 ER SUI Payable 0.00 3430 ER FUTA Payable 0.00 FUTA Payable 0.00 Miscellaneous{118} 0.00 Phila city tax 0.00 SUTA Payable 0.00 Total 2100*OE Payroll Liabilities*OE 2200 Deferred Revenue 2300 Accrued Payroll Liabilities 2301 Accrued PTO Liability 2310 Commission Liabilities $ 14,-,-,075.19 2320 Accounts Payable-Contract Labor 0.00 2620 Due to Shareholder 0.00 3700 Loan from Shareholder 0.00 3720 SEP Contribution Payable 3800 Fidelity Line of Credit AUTO LOAN 0.00 -94,902.58 4,286.85 Total Other Current Liabilities Total Current Liabilities Total Liabilities $ 1,390,767.36 $ 1,727,879.97 $ 1,727,879.97 Equity 3000*OE Opening Bal Equity 0.00 32000 Retained Earnings 8,907,372.54 4400 Shareholder Distributions -9,840,879.35 4500 Capital Stock 5,000.00 Net Income 176,094.44 Total Equity TOTAL LIABILITIES AND EQUITY -$ 752,412.37 $ 975,467.60 Tuesday, Oct 24, 2023 01:29:13 PM GMT-7 - Accrual Basis