v3.10.0.1
1. NATURE OF OPERATIONS
9 Months Ended
Oct. 31, 2018
Notes  
1. NATURE OF OPERATIONS

NOTE 1 - NATURE OF OPERATIONS

 

APT Systems, Inc. (“APT Systems”, “the Company”, “We” or “Us”) was incorporated in the State of Delaware on October 29, 2010 (“Inception”) to operate as a Fintech Company to engage in the creation of innovative financial platforms, financial apps and pioneering visualization solutions for charting the financial markets. We intend utilizing real time and delayed data networks along with graphic techniques pioneered in the gaming industry, so that APT’s solutions can speak to the mobile needs demanded by the next generation of traders. To facilitate our business plans, we applied for and were approved to access Know Your Customer (KYC) and Anti-Money Laundering (AML) data used by large financial institutions to create risk management reports and validate identity claims for persons accessing financial applications. Regulators require our platforms actively vet members and we can provide this service and reports to third parties for additional revenues. We are also developing credentials for verifying and reporting on an accredited investor’s status. We completed work on redesigning all of the logos for our brands and then updated our main website at www.aptsystemsinc.com.

 

In August of 2017, the company launched a wholly owned Delaware subsidiary Snapt Games, Inc. Management admires graphic techniques used in the gaming industry and wants to selectively introduce these to its charting tools and financial platforms. The company acquired its first game app on August 24, 2017 and rebranded it Chick Chick Boom for release worldwide. In November, the company formally launched its second game called Hogg Wild.

 

On September 1, 2017, the Company formed and incorporated a second wholly owned subsidiary named RCPS Management, Inc. in Colorado. This company will concentrate on the development of payment and escrow systems under the brand Verifundr.

 

During the quarter ending April 30, 2018, the Company acquired a novelty app for $36,000. Apple deducts a 30% handling fee and there are marketing costs to maintain this income stream for Snapt Games. The Company analyzed the acquisition in accordance with ASC 805 and determined it to be a group of similar identifiable asset and as such is being accounted for as an asset acquisition. The Company has completed initial work on its third game app and its Candy Chefs game was released on June 28, 2018.