FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

Balance Sheet as of June 30, 2022 (unaudited)

Balance Sheet as of March 31, 2022

Statements of Operations for the three-month period ended June 30, 2022 (unaudited) Statements of Operations for the three-month period ended June 30, 2021 (unaudited)

Statements of Stockholders' Equity for the three-month period ended June 30, 2022 (unaudited) Statements of Stockholders' Equity for the three-month period ended June 30, 2021 (unaudited)

Statements of Cash Flows for the three-month period ended June 30, 2022 (unaudited) Statements of Cash Flows for the three-month period ended June 30, 2021 (unaudited)

Notes to Financial Statements (unaudited)

1

PCS EDVENTURES!, INC.

Balance Sheets

(unaudited)

June 30, 2022

March 31, 2022

CURRENT ASSETS

Cash

$

546,501

$

584,070

Accounts receivable, net

609,179

360,670

Prepaid expenses

359,359

85,728

Inventory, net

1,042,919

1,159,627

Other current assets

105,314

105,314

Total Current Assets

2,663,273

2,295,409

NONCURRENT ASSETS

Lease Right-of-Use Asset

244,190

266,680

Deposits

6,300

6,300

Property and equipment, net

22,421

17,165

Total Noncurrent Assets

272,911

290,145

TOTAL ASSETS

$

2,936,184

$

2,585,554

CURRENT LIABILITIES

Accounts payable

$

213,540

$

90,314

Payroll liabilities and accrued expenses

266,533

276,837

Deferred revenue

35,248

-

Lease Liability, current portion

84,692

93,327

Notes payable, related party

1,450,000

1,493,327

Total Current Liabilities

2,050,013

1,953,805

NONCURRENT LIABILITIES

Lease liabilities, net of current portion

161,099

174,353

Total Noncurrent Liabilities

161,099

174,353

TOTAL LIABILITIES

2,211,112

2,128,158

STOCKHOLDERS' EQUITY (DEFICIT)

Preferred stock, no par value, 20,000,000 authorized shares,

No shares issued and outstanding

-

-

Common stock, no par value, 150,000,000 authorized shares,

124,482,479 shares issued and outstanding

-

-

Additional Paid-in Capital

40,599,946

40,589,402

Accumulated deficit

(39,874,874)

(40,132,007)

Total Stockholders' Equity

725,072

457,396

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY

$

2,936,184

$

2,585,554

The accompanying notes are an integral part of these unaudited financial statements.

2

PCS EDVENTURES!, INC. Statements of Operations (unaudited)

For the three months ended June 30,

2022 (unaudited)

2021 (unaudited)

REVENUES

Revenue

$

1,391,785

$

1,062,127

Total Revenues

1,391,785

1,062,127

COST OF SALES

556,618

482,088

GROSS PROFIT

835,167

580,039

OPERATING EXPENSES

Salaries and wages

326,272

283,667

General and administrative expenses

214,183

164,262

Total Operating Expenses

540,455

447,929

OPERATING INCOME (LOSS)

294,711

132,110

OTHER INCOME AND (EXPENSES)

Interest expense

(37,580)

(45,495)

Net Other Expense

(37,580)

(45,494)

NET INCOME (LOSS)

$

257,132

$

87,815

Net Income (loss) per common share:

Basic

$0.00

($0.00)

Fully Diluted

$0.00

($0.00)

Weighted Average number of shares outstanding

Basic

124,482,479

123,482,479

Fully diluted

125,079,838

124,439,493

The accompanying notes are an integral part of these unaudited financial statements.

3

PCS EDVENTURES!, INC.

Statement of Stockholders' Equity (Deficit)

(unaudited)

# of Common

Common

Additional

Accumulated

Stockholders'

Shares O/S

Stock

Paid-in Capital

Deficit

Equity (Deficit)

Balance at 3/31/2021

123,482,479

-

$40,548,564

($40,861,342)

($312,778)

Net income (loss)

-

-

-

$87,815

$87,815

Balance at 6/30/2021

123,482,479

-

$40,548,564

($40,773,527)

($224,963)

Net income (loss)

$641,520

$641,520

Exercise of warrants

1,000,000

15,000

15,000

Option expense

25,839

25,839

Balance at 3/31/2022

124,482,479

-

40,589,402

(40,132,007)

$457,396

Net income (loss)

-

-

-

$257,132

$257,132

Option expense

-

-

$10,544

-

$10,544

Balance at 6/30/2022

124,482,479

-

$40,599,947

($39,874,875)

$725,072

The accompanying notes are an integral part of these unaudited financial statements

4

PCS EDVENTURES!, INC.

Statements of Cash Flows

(unaudited)

For the Three Months ended June 30,

2022 (unaudited)

2021 (unaudited)

CASH FLOWS FROM OPERATING ACTIVITIES

NET INCOME (LOSS)

$

257,132

$

87,815

Stock based compensation

10,544

-

Amortization of debt discount

-

3,293

Depreciation and amortization

862

-

Right of use asset amortization

22,490

2,658

Changes in operating assets and liabilities

(Increase) decrease in accounts receivable

(248,509)

(150,191)

(Increase) decrease in prepaid expenses

(273,631)

(152,907)

(Increase) decrease in inventories

116,708

90,885

(Increase) decrease in other current assets

-

7,519

(Decrease) increase in accounts payable and accrued liabilities

112,922

122,720

(Increase) decrease in lease liability

(21,889)

-

Increase (Decrease) in unearned revenue

35,248

136,582

Net Cash Provided by (Used by) Operating Activities

11,877

148,375

CASH FLOWS FROM INVESTING ACTIVITIES

Cash paid for purchase of fixed assets

(6,118)

-

Net Cash Provided by (Used by) Investing Activities

(6,118)

-

CASH FLOWS FROM FINANCING ACTIVITIES

Principal payments on debt

$

(43,327)

$

(7,081)

Net Cash Provided by (Used by) Financing Activities

(43,327)

(7,801)

Net Increase (Decrease) in Cash

(37,569)

140,574

Cash at Beginning of Quarter

584,071

500,150

Cash at End of Quarter

546,502

640,724

CASH PAID FOR:

Cash paid for interest

$42,263

$45,396

Cash paid for operating leases

$25,739

$25,974

The accompanying notes are an integral part of these unaudited financial statements.

5

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PCS Edventures! Inc. published this content on 12 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 August 2022 14:14:04 UTC.