Company: BSAI
Filing Date: 2025-04-01
Form Type: 10-K
Source: 0001096906-25-000357
Chunk: 731

Company: BLUSKY AI INC.
Filing Date: 2025-04-01
Form: 10-K
Item: Item 4
Chunk 731
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 in) Financing Activities  127,137   (1,328,126)Effects of Exchange Rate Changes on Cash  -   1,105 Net Increase (Decrease) in Cash $(2) $2 

Operating Activities

Net cash flow used in operating activities during the year ended December 31, 2024, was $127,139, a decrease of $1,369,814 from the $1,242,675 net cash provided by operating activities during the year ended December 31, 2023. This decrease is mostly due to the net loss in 2024 versus the net income in 2023.

Investing Activities

Cash used in investing activities during the year ended December 31, 2024, was $0, a decrease of $652 from the $652 net cash used during the year ended December 31, 2023. This decrease was due to discontinued operations and no new investments.

Financing Activities

Financing activities during the year ended December 31, 2024, provided $127,137, an increase of $1,370,263 from the $1,243,126 used in financing activities during the year ended December 31, 2023. During the year ended December 31, 2024, the company received $174,396 in notes payable from related parties, $150,000 in convertible notes payable, made payments of $98,475 in cash on notes payable – related parties, and $98,784 in cash on convertible notes. During the year ended December 31, 2023, the company received $39,303 in notes payable from related parties, $100,000 in convertible notes payable, made payments of $39,000 in cash on notes payable – related parties, and $1,343,429 in cash on convertible notes.

Critical Accounting Policies and Estimates

Going Concern - The accompanying consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. As shown in the accompanying consolidated financial statements during year ended December 31, 2024, the Company recorded a net loss of $949,782 and used $127,139 in cash from operating activities. The Company has an accumulated net loss since inception of $29,863,364. In addition, there is a working capital deficiency of $3,346,850 and a stockholder’s deficiency of $3,346,319 as