10-K Filing

GOLDEN MATRIX GROUP, INC. CIK: 1437925 FY 2016

Filing Information

Form Type	10-K
Accession Number	`0001477932-16-013565`
Period End Date	20160731
Filing Date	20161115
Fiscal Year	2016
Fiscal Period	FY
XBRL Instance	gmgi-20160731.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 63 Income Statement 32 Cash Flow Statement 52 Stockholders Equity 24

Balance Sheet 63 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Cash and cash equivalents	`Cash`	-	USD	Point-in-time
Cash and cash equivalents	`Cash`	$2.30K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	20.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	20.00M	shares	Point-in-time
Accounts receivable - related party	`AccountsReceivableNetCurrent`	$10.00K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	1,000.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Accounts receivable - related party	`AccountsReceivableNetCurrent`	-	USD	Point-in-time
Loan receivable	`LoansReceivableNet`	-	USD	Point-in-time
Loan receivable	`LoansReceivableNet`	$63.12K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	1,000.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$12.30K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Total current assets	`AssetsCurrent`	$63.12K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	2.98B	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	2.98B	shares	Point-in-time
Mineral property	`MineralPropertiesNet`	-	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	1,157.00	shares	Point-in-time
Mineral property	`MineralPropertiesNet`	$85.00K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	389.67M	shares	Point-in-time
Total Non-current assets	`AssetsNoncurrent`	$85.00K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	389.67M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	1,157.00	shares	Point-in-time
Total Non-current assets	`AssetsNoncurrent`	-	USD	Point-in-time
Total assets	`Assets`	$148.12K	USD	Point-in-time
Total assets	`Assets`	$12.30K	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$35.44K	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$35.95K	USD	Point-in-time
Accounts payable - related parties	`AccountsPayableRelatedPartiesCurrent`	$78.45K	USD	Point-in-time
Accounts payable - related parties	`AccountsPayableRelatedPartiesCurrent`	$42.82K	USD	Point-in-time
Advances from shareholders	`OtherLoansPayableCurrent`	$1.00K	USD	Point-in-time
Advances from shareholders	`OtherLoansPayableCurrent`	-	USD	Point-in-time
Notes payable interest	`NotesAndLoansPayable`	$209.19K	USD	Point-in-time
Notes payable interest	`NotesAndLoansPayable`	$259.17K	USD	Point-in-time
Convertible notes payable, net of discounts	`ConvertibleNotesPayableCurrent`	$2.36M	USD	Point-in-time
Convertible notes payable, net of discounts	`ConvertibleNotesPayableCurrent`	$1.68M	USD	Point-in-time
Derivative liabilities - note conversion feature	`DerivativeLiabilitiesCurrent`	$1.94M	USD	Point-in-time
Derivative liabilities - note conversion feature	`DerivativeLiabilitiesCurrent`	$322.03K	USD	Point-in-time
Total Current liabilities	`LiabilitiesCurrent`	$2.97M	USD	Point-in-time
Total Current liabilities	`LiabilitiesCurrent`	$3.99M	USD	Point-in-time
Total liabilities	`Liabilities`	$2.97M	USD	Point-in-time
Total liabilities	`Liabilities`	$3.99M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, par value $0.00001, 20,000,000 shares authorized, 1,000 and none shares issued and outstanding, respectively	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, par value $0.00001, 20,000,000 shares authorized, 1,000 and none shares issued and outstanding, respectively	`PreferredStockValue`	-	USD	Point-in-time
Common stock, par value $0.00001, 2,980,000,000 shares authorized, 389,670,767 and 1,157 shares issued and outstanding, respectively	`CommonStockValue`	-	USD	Point-in-time
Common stock, par value $0.00001, 2,980,000,000 shares authorized, 389,670,767 and 1,157 shares issued and outstanding, respectively	`CommonStockValue`	$3.90K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$15.86M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$24.71M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-683.00	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-683.00	USD	Point-in-time
Retained earnings (accumulated deficit)	`RetainedEarningsAccumulatedDeficit`	$-28.69M	USD	Point-in-time
Retained earnings (accumulated deficit)	`RetainedEarningsAccumulatedDeficit`	$-18.68M	USD	Point-in-time
Total shareholders' deficit	`StockholdersEquity`	$-929.63K	USD	Point-in-time
Total shareholders' deficit	`StockholdersEquity`	$-2.82M	USD	Point-in-time
Total shareholders' deficit	`StockholdersEquity`	$-3.98M	USD	Point-in-time
Total liabilities and shareholders' deficit	`LiabilitiesAndStockholdersEquity`	$12.30K	USD	Point-in-time
Total liabilities and shareholders' deficit	`LiabilitiesAndStockholdersEquity`	$148.12K	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	-	USD	Annual
Revenues	`Revenues`	$20.00K	USD	Annual
Accounting and audit fees	`LegalFees`	$16.44K	USD	Annual
Accounting and audit fees	`LegalFees`	$19.91K	USD	Annual
G&A expenses	`GeneralAndAdministrativeExpense`	$1.86M	USD	Annual
G&A expenses	`GeneralAndAdministrativeExpense`	$335.34K	USD	Annual
Management fees	`ManagementFeeExpense`	$110.00K	USD	Annual
Management fees	`ManagementFeeExpense`	$150.00K	USD	Annual
Professional fees	`ProfessionalFees`	$30.32K	USD	Annual
Professional fees	`ProfessionalFees`	$9.24K	USD	Annual
Bad debt expense	`BadDebtExpense`	$49.54K	USD	Annual
Bad debt expense	`BadDebtExpense`	-	USD	Annual
Amortization and impairment expenses	`DepreciationAndAmortization`	$4.67M	USD	Annual
Amortization and impairment expenses	`DepreciationAndAmortization`	-	USD	Annual
Total operating expenses	`OperatingExpenses`	$5.22M	USD	Annual
Total operating expenses	`OperatingExpenses`	$2.04M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-5.20M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-2.04M	USD	Annual
Interest expense	`InterestExpense`	$4.55M	USD	Annual
Interest expense	`InterestExpense`	$803.15K	USD	Annual
Gain on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-2.70M	USD	Annual
Gain on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	Annual
Unrealized gain (loss) on derivative liability - note conversion feature	`FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisChangeInUnrealizedGainLoss`	$2.96M	USD	Annual
Unrealized gain (loss) on derivative liability - note conversion feature	`FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisChangeInUnrealizedGainLoss`	$-221.81K	USD	Annual
Total other expense	`OtherNonoperatingIncomeExpense`	$-581.34K	USD	Annual
Total other expense	`OtherNonoperatingIncomeExpense`	$-4.81M	USD	Annual
Net Loss	`NetIncomeLoss`	$-10.01M	USD	Annual
Net Loss	`NetIncomeLoss`	$-2.62M	USD	Annual
Net loss per common share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.00	USD	Annual
Net loss per common share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.30	USD	Annual
Weighted average number of common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	3.19B	shares	Annual
Weighted average number of common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	33.29M	shares	Annual

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-10.01M	USD	Annual
Net loss	`NetIncomeLoss`	$-2.62M	USD	Annual
Non-cash interest expense related to conversion feature of notes payable	`NoncashOrPartNoncashAcquisitionAccountsReceivableAcquired1`	$651.99K	USD	Annual
Non-cash interest expense related to conversion feature of notes payable	`NoncashOrPartNoncashAcquisitionAccountsReceivableAcquired1`	$4.55M	USD	Annual
Unrealized loss on derivative liabilities-note conversion feature	`FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisChangeInUnrealizedGainLoss`	$2.96M	USD	Annual
Unrealized loss on derivative liabilities-note conversion feature	`FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisChangeInUnrealizedGainLoss`	$-221.81K	USD	Annual
Amortization and impairment	`DepreciationAndAmortization`	$4.67M	USD	Annual
Amortization and impairment	`DepreciationAndAmortization`	-	USD	Annual
Gain on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-2.70M	USD	Annual
Gain on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	-	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-10.00K	USD	Annual
Loan receivable	`IncreaseDecreaseInReceivables`	$16.13K	USD	Annual
Loan receivable	`IncreaseDecreaseInReceivables`	$63.12K	USD	Annual
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	-	USD	Annual
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	-	USD	Annual
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$1.02M	USD	Annual
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$13.16K	USD	Annual
Accounts payable-related parties	`IncreaseDecreaseInAccountsPayableRelatedParties`	$78.45K	USD	Annual
Accounts payable-related parties	`IncreaseDecreaseInAccountsPayableRelatedParties`	-	USD	Annual
Notes payable, interest	`IncreaseDecreaseInNotesPayableCurrent`	$151.16K	USD	Annual
Notes payable, interest	`IncreaseDecreaseInNotesPayableCurrent`	$-632.51K	USD	Annual
Net cash provided by ( used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.01M	USD	Annual
Net cash provided by ( used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.30K	USD	Annual
Proceeds from notes payable	`ProceedsFromNotesPayable`	-	USD	Annual
Proceeds from notes payable	`ProceedsFromNotesPayable`	$1.98M	USD	Annual
Proceeds from short-term notes payable	`ProceedsFromShortTermDebt`	-	USD	Annual
Proceeds from short-term notes payable	`ProceedsFromShortTermDebt`	-	USD	Annual
Proceeds from Loan	`ProceedsFromLoans`	-	USD	Annual
Proceeds from Loan	`ProceedsFromLoans`	-	USD	Annual
Repayment of short-term notes payable	`RepaymentsOfShortTermDebt`	-	USD	Annual
Repayment of short-term notes payable	`RepaymentsOfShortTermDebt`	-	USD	Annual
Repayment of convertible notes payable	`RepaymentsOfConvertibleDebt`	-	USD	Annual
Repayment of convertible notes payable	`RepaymentsOfConvertibleDebt`	-	USD	Annual
Common stock issued for cash	`ProceedsFromIssuanceOfCommonStock`	-	USD	Annual
Common stock issued for cash	`ProceedsFromIssuanceOfCommonStock`	-	USD	Annual
Capital contribution from a related party	`ProceedsFromRelatedPartyDebt`	$32.00K	USD	Annual
Capital contribution from a related party	`ProceedsFromRelatedPartyDebt`	$1.00K	USD	Annual
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.00K	USD	Annual
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$2.01M	USD	Annual
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$2.30K	USD	Annual
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-636.00	USD	Annual
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$636.00	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$2.30K	USD	Point-in-time
Cash and cash equivalents at end of year	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash and cash equivalents at end of year	`CashAndCashEquivalentsAtCarryingValue`	$636.00	USD	Point-in-time
Cash and cash equivalents at end of year	`CashAndCashEquivalentsAtCarryingValue`	$2.30K	USD	Point-in-time
Common stock issued for acquisition of assets	`CommonStockIssuedForAcquisitionOfAssets`	$500.00K	USD	Annual
Common stock issued for acquisition of assets	`CommonStockIssuedForAcquisitionOfAssets`	-	USD	Annual
Notes issued to acquire intangible asset	`NotesIssuedToAcquireIntangibleAsset`	$2.37M	USD	Annual
Notes issued to acquire intangible asset	`NotesIssuedToAcquireIntangibleAsset`	-	USD	Annual

Stockholders Equity 24 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance, Amount	`StockholdersEquity`	$-929.63K	USD	Point-in-time
Beginning Balance, Amount	`StockholdersEquity`	$-2.82M	USD	Point-in-time
Beginning Balance, Amount	`StockholdersEquity`	$-3.98M	USD	Point-in-time
Conversion of promissory notes to stock August 1, 2014-October 31, 2014, Amount	`ConversionOfPromissoryNotesToStockAugust12014october312014Amount`	$93.50K	USD	Annual
Elimination of derivative liabilities August 1, 2014-October 31, 2014	`EliminationOfDerivativeLiabilitiesAugust12014october312014`	$196.66K	USD	Annual
Conversion of promissory notes to stock November 1, 2014-January 31, 2015, Amount	`ConversionOfPromissoryNotesToStockNovember12014january312015Amount`	$2.00K	USD	Annual
Elimination of derivative liabilities November 1, 2014-January 31, 2015	`EliminationOfDerivativeLiabilitiesNovember12014january312015`	$17.99K	USD	Annual
Conversion of promissory notes to stock May 1, 2015-July 31, 2015, Amount	`ConversionOfPromissoryNotesToStockMay12015july312015Amount`	$1.49K	USD	Annual
Intrinsic value of the beneficial conversion feature of the convertible notes payable	`IntrinsicValueOfBeneficialConversionFeatureOfConvertibleNotesPayable`	$416.00K	USD	Annual
Adjustments for reverse stock split	`AdjustmentsForReverseStockSplit`	-	USD	Annual
Preferred stock Series B issued pursuant to agreement, Amount	`PreferredStockSeriesBIssuedPursuantToAgreementAmount`	-	USD	Annual
Conversion of promissory notes to stock November 1, 2015-January 31, 2016, Amount	`ConversionOfPromissoryNotesToStockNovember12015january312016Amount`	$28.64K	USD	Annual
Reclassification of derivatives to APIC	`ReclassificationOfDerivativesToApic`	$1.07M	USD	Annual
Conversion of promissory notes to stock February 1,2016-April 30,2016, Amount	`ConversionOfPromissoryNotesToStockFebruary12016april302016Amount`	$60.17K	USD	Annual
Reclassification of derivatives to APIC party	`ReclassificationOfDerivativesToApicParty`	$58.77K	USD	Annual
Conversion of promissory notes to stock May 1,2016-July 31, 2016, Amount	`ConversionOfPromissoryNotesToStockMay12016july312016Amount`	$1.37M	USD	Annual
Note Cancellation pursuant to agreement	`NoteCancellationPursuantToAgreement`	$13.96M	USD	Annual
Common stock issued for We buy Gold, Amount	`CommonStockIssuedForWeBuyGoldAmount`	$1.86M	USD	Annual
Common stock issued for Luxor IP and Know how, Amount	`CommonStockIssuedForLuxorIpAndKnowHowAmount`	$437.49K	USD	Annual
Net loss	`NetIncomeLoss`	$-10.01M	USD	Annual
Net loss	`NetIncomeLoss`	$-2.62M	USD	Annual
Ending Balance, Amount	`StockholdersEquity`	$-929.63K	USD	Point-in-time
Ending Balance, Amount	`StockholdersEquity`	$-2.82M	USD	Point-in-time
Ending Balance, Amount	`StockholdersEquity`	$-3.98M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.