Ctrl Worx Watch List › Company
AppSoft Technologies, Inc. (ASFT): material weakness open at least 2,128 days
By Russell Tomoum, Ctrl Worx™. Built from its own SEC filings. How the Clock works.
AppSoft Technologies, Inc. reported ineffective internal control over financial reporting because of a material weakness in 6 filings since May 27, 2021. It stated one or more material weaknesses in 1 more SEC filing that gave no conclusion on whether that control is effective. The latest was its 10-Q for the period ended Jun 30, 2026.
Ctrl Worx Watch List™ status
On the ClockStill filing, and no annual report of its own says the weakness is fixed.
Checked against SEC EDGAR: Oct 29, 2026 · Entry #11200
Causes the company named
Segregation of duties · 7Entity-level and governance · 7
Inadequate segregation of cash duties and lack of independent board oversight due to limited personnel.
What the latest filing says
Based on that evaluation, Mr. Kupchik concluded that the Company’s disclosure controls and procedures were not effective because of the material weaknesses described below. The material weaknesses consist of (i) inadequate segregation of duties in the handling of cash, cash receipts and cash disbursements due to the Company’s limited personnel and (ii) the lack of an independent board to oversee management decisions and the use of funds. These material weaknesses were disclosed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025 and continued to exist at June 30, 2026. The Company’s limited financial and personnel resources make remediation difficult. Management intends to continue formalizing cash-handling and review procedures and to seek qualified independent directors when resources permit, but cannot assure that remediation will be completed in a timely manner. Changes in Internal Controls There were no changes in the Company’s internal control over financial reporting during the quarter ended June 30, 2026 that materially affected, or are [...]
From the controls section of the 10-Q filed Aug 19, 2026. Read the full filing on SEC EDGAR.
Company response: AppSoft Technologies, Inc. can send a statement or a link to its remediation update to russell@ctrlworx.com. We post it here, unedited and dated.
Filings
| Filed | Form | Period | Controls | Causes | Filing |
|---|---|---|---|---|---|
| Aug 19, 2026 | 10-Q | Jun 30, 2026 | Material weakness stated, no ICFR conclusion | Segregation of duties; Entity-level and governance | EDGAR |
| Apr 27, 2026 | 10-K | Dec 31, 2025 | Not effective | Segregation of duties; Entity-level and governance | EDGAR |
| Apr 16, 2025 | 10-K | Dec 31, 2024 | Not effective | Segregation of duties; Entity-level and governance | EDGAR |
| Apr 11, 2024 | 10-K | Dec 31, 2023 | Not effective | Segregation of duties; Entity-level and governance | EDGAR |
| Apr 18, 2023 | 10-K | Dec 31, 2022 | Not effective | Segregation of duties; Entity-level and governance | EDGAR |
| Mar 29, 2022 | 10-K | Dec 31, 2021 | Not effective | Segregation of duties; Entity-level and governance | EDGAR |
| May 27, 2021 | 10-K | Dec 31, 2020 | Not effective | Segregation of duties; Entity-level and governance | EDGAR |
Others on the Clock in the same industry
By SEC industry code: 7372, Services-Prepackaged Software, then related codes.
- 3D SYSTEMS CORP (DDD) · open since Dec 2020 or earlier
- CYBERLOQ TECHNOLOGIES, INC. (ACRT) · open since Dec 2020 or earlier
- DarkPulse, Inc. (DPLS) · open since Dec 2020 or earlier
- Data443 Risk Mitigation, Inc. (ATDS) · open since Dec 2020 or earlier
- DATASEA INC. (DTSS) · open since Dec 2020 or earlier
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