10-Q Filing

GOLDEN MATRIX GROUP, INC. CIK: 1437925 Q2 2017

Filing Information

Form Type	10-Q
Accession Number	`0001477932-17-001171`
Period End Date	20170131
Filing Date	20170317
Fiscal Year	2017
Fiscal Period	Q2
XBRL Instance	gmgi-20170131.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 56 Income Statement 76 Cash Flow Statement 56

Balance Sheet 56 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`Cash`	$13.80K	USD	Point-in-time
Cash and cash equivalents	`Cash`	$2.30K	USD	Point-in-time
Accounts receivable - related party	`AccountsReceivableNetCurrent`	$10.00K	USD	Point-in-time
Accounts receivable - related party	`AccountsReceivableNetCurrent`	$22.50K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$12.30K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$36.30K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$12.30K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$36.30K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	2.48B	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	19.87M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	2.48B	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	3.47B	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	223.00	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	2.60M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	223.00	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	48.59M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	48.59M	shares	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$35.95K	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$38.15K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	3.47B	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	2.60M	shares	Point-in-time
Accounts payable - related party	`AccountsPayableRelatedPartiesCurrent`	$78.45K	USD	Point-in-time
Accounts payable - related party	`AccountsPayableRelatedPartiesCurrent`	$241.13K	USD	Point-in-time
Advances from shareholders	`OtherLoansPayableCurrent`	$1.00K	USD	Point-in-time
Advances from shareholders	`OtherLoansPayableCurrent`	$1.00K	USD	Point-in-time
Accrued interest	`AccruedInterest`	$122.07K	USD	Point-in-time
Accrued interest	`AccruedInterest`	$259.17K	USD	Point-in-time
Notes payable, net of discount	`ConvertibleNotesPayableCurrent`	$1.16M	USD	Point-in-time
Notes payable, net of discount	`ConvertibleNotesPayableCurrent`	$86.00K	USD	Point-in-time
Convertible notes payable , net - in default	`NotesAndLoansPayable`	$515.85K	USD	Point-in-time
Convertible notes payable , net - in default	`NotesAndLoansPayable`	$100.25K	USD	Point-in-time
Convertible notes payable - related party	`DueToRelatedPartiesCurrent`	$795.71K	USD	Point-in-time
Convertible notes payable - related party	`DueToRelatedPartiesCurrent`	-	USD	Point-in-time
Derivative liabilities - note conversion features	`DerivativeLiabilitiesCurrent`	$1.94M	USD	Point-in-time
Derivative liabilities - note conversion features	`DerivativeLiabilitiesCurrent`	$648.37K	USD	Point-in-time
Total Current liabilities	`LiabilitiesCurrent`	$2.03M	USD	Point-in-time
Total Current liabilities	`LiabilitiesCurrent`	$3.99M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$3.99M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$2.03M	USD	Point-in-time
Common stock: $0.00001 par value; 2,480,000,000 shares authorized; 48,587,906 and 2,597,806 shares issued and outstanding, respectively	`CommonStockValue`	$486.00	USD	Point-in-time
Common stock: $0.00001 par value; 2,480,000,000 shares authorized; 48,587,906 and 2,597,806 shares issued and outstanding, respectively	`CommonStockValue`	$1.80M	USD	Point-in-time
Common stock: $0.00001 par value; 2,480,000,000 shares authorized; 48,587,906 and 2,597,806 shares issued and outstanding, respectively	`CommonStockValue`	$26.00	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$25.27M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$24.71M	USD	Point-in-time
Stock payable	`StockPayable`	-	USD	Point-in-time
Stock payable	`StockPayable`	$3.36K	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`	$-27.26M	USD	Point-in-time
Retained earnings (accumulated deficit)	`RetainedEarningsAccumulatedDeficit`	$-28.69M	USD	Point-in-time
Total shareholders' equity (deficit)	`StockholdersEquity`	$-3.98M	USD	Point-in-time
Total shareholders' equity (deficit)	`StockholdersEquity`	$-2.00M	USD	Point-in-time
TOTAL LIABILITIES & STOCKHOLDERS EQUITY (DEFICIT)	`LiabilitiesAndStockholdersEquity`	$36.30K	USD	Point-in-time
TOTAL LIABILITIES & STOCKHOLDERS EQUITY (DEFICIT)	`LiabilitiesAndStockholdersEquity`	$12.30K	USD	Point-in-time

Income Statement 76 line items

Line Item	Tag	Value	Unit	Period
Sales- related party	`SalesRevenueNet`	$30.00K	USD	1 Quarter
Sales- related party	`SalesRevenueNet`	-	USD	2 Qtrs
Sales- related party	`SalesRevenueNet`	-	USD	1 Quarter
Sales- related party	`SalesRevenueNet`	$60.00K	USD	2 Qtrs
Accounting and audit fees	`LegalFees`	$1.84K	USD	1 Quarter
Accounting and audit fees	`LegalFees`	$27.40K	USD	1 Quarter
Accounting and audit fees	`LegalFees`	$32.40K	USD	2 Qtrs
Accounting and audit fees	`LegalFees`	$5.43K	USD	2 Qtrs
Amortization expense	`DepreciationAndAmortization`	$9.65K	USD	1 Quarter
Amortization expense	`DepreciationAndAmortization`	$9.65K	USD	2 Qtrs
Amortization expense	`DepreciationAndAmortization`	-	USD	2 Qtrs
Amortization expense	`DepreciationAndAmortization`	-	USD	1 Quarter
G&A expenses	`GeneralAndAdministrativeExpense`	$50.30K	USD	2 Qtrs
G&A expenses	`GeneralAndAdministrativeExpense`	$565.71K	USD	1 Quarter
G&A expenses	`GeneralAndAdministrativeExpense`	$50.16K	USD	1 Quarter
G&A expenses	`GeneralAndAdministrativeExpense`	$781.71K	USD	2 Qtrs
G&A expenses- related party	`CostsAndExpensesRelatedParty`	-	USD	2 Qtrs
G&A expenses- related party	`CostsAndExpensesRelatedParty`	$132.29K	USD	2 Qtrs
G&A expenses- related party	`CostsAndExpensesRelatedParty`	$59.70K	USD	1 Quarter
G&A expenses- related party	`CostsAndExpensesRelatedParty`	-	USD	1 Quarter
Management fees	`ManagementFeeExpense`	$90.00K	USD	2 Qtrs
Management fees	`ManagementFeeExpense`	-	USD	1 Quarter
Management fees	`ManagementFeeExpense`	-	USD	2 Qtrs
Management fees	`ManagementFeeExpense`	$60.00K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$7.16K	USD	2 Qtrs
Professional fees	`ProfessionalFees`	$13.96K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$23.90K	USD	2 Qtrs
Professional fees	`ProfessionalFees`	$5.52K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$238.89K	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$642.72K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$893.95K	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$151.22K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-121.22K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-642.72K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-893.95K	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-178.89K	USD	2 Qtrs
Other income	`OtherIncome`	$21.15K	USD	2 Qtrs
Other income	`OtherIncome`	-	USD	2 Qtrs
Other income	`OtherIncome`	$21.15K	USD	1 Quarter
Other income	`OtherIncome`	-	USD	1 Quarter
Gain on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$806.87K	USD	2 Qtrs
Gain on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Gain on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Gain on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	2 Qtrs
Fair value change of derivative liability	`FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisChangeInUnrealizedGainLoss`	$1.14M	USD	2 Qtrs
Fair value change of derivative liability	`FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisChangeInUnrealizedGainLoss`	$337.17K	USD	1 Quarter
Fair value change of derivative liability	`FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisChangeInUnrealizedGainLoss`	$-19.52K	USD	1 Quarter
Fair value change of derivative liability	`FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisChangeInUnrealizedGainLoss`	$175.40K	USD	2 Qtrs
Interest on convertible notes	`InterestExpenseDebt`	$2.59M	USD	2 Qtrs
Interest on convertible notes	`InterestExpenseDebt`	$346.73K	USD	2 Qtrs
Interest on convertible notes	`InterestExpenseDebt`	$46.07K	USD	1 Quarter
Interest on convertible notes	`InterestExpenseDebt`	$1.02M	USD	1 Quarter
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$-2.40M	USD	2 Qtrs
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$-1.02M	USD	1 Quarter
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$291.11K	USD	1 Quarter
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$1.60M	USD	2 Qtrs
Net Income (Loss)	`NetIncomeLoss`	$-3.29M	USD	2 Qtrs
Net Income (Loss)	`NetIncomeLoss`	$-1.66M	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$1.43M	USD	2 Qtrs
Net Income (Loss)	`NetIncomeLoss`	$169.89K	USD	1 Quarter
Weighted average number of common shares outstanding -Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	313,432.00	shares	2 Qtrs
Weighted average number of common shares outstanding -Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	7.47M	shares	2 Qtrs
Weighted average number of common shares outstanding -Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	615,289.00	shares	1 Quarter
Weighted average number of common shares outstanding -Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	9.94M	shares	1 Quarter
Weighted average number of common shares outstanding -Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	615,289.00	shares	1 Quarter
Weighted average number of common shares outstanding -Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	313,432.00	shares	2 Qtrs
Weighted average number of common shares outstanding -Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	252.44M	shares	1 Quarter
Weighted average number of common shares outstanding -Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	248.41M	shares	2 Qtrs
Net income/(loss) per common share - Basic	`EarningsPerShareBasic`	$-2.70	USD	1 Quarter
Net income/(loss) per common share - Basic	`EarningsPerShareBasic`	$0.02	USD	1 Quarter
Net income/(loss) per common share - Basic	`EarningsPerShareBasic`	$0.19	USD	2 Qtrs
Net income/(loss) per common share - Basic	`EarningsPerShareBasic`	$-10.50	USD	2 Qtrs
Net income/(loss) per common share - Dilutied	`EarningsPerShareDiluted`	$0.01	USD	2 Qtrs
Net income/(loss) per common share - Dilutied	`EarningsPerShareDiluted`	-	USD	2 Qtrs
Net income/(loss) per common share - Dilutied	`EarningsPerShareDiluted`	-	USD	1 Quarter
Net income/(loss) per common share - Dilutied	`EarningsPerShareDiluted`	-	USD	1 Quarter

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net Income (Loss)	`NetIncomeLoss`	$-3.29M	USD	2 Qtrs
Net Income (Loss)	`NetIncomeLoss`	$-1.66M	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$1.43M	USD	2 Qtrs
Net Income (Loss)	`NetIncomeLoss`	$169.89K	USD	1 Quarter
Amortization expense	`AdjustmentForAmortization`	$303.17K	USD	2 Qtrs
Amortization expense	`AdjustmentForAmortization`	$2.39M	USD	2 Qtrs
Gain from change in fair value of derivative liability	`FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisChangeInUnrealizedGainLoss`	$1.14M	USD	2 Qtrs
Gain from change in fair value of derivative liability	`FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisChangeInUnrealizedGainLoss`	$337.17K	USD	1 Quarter
Gain from change in fair value of derivative liability	`FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisChangeInUnrealizedGainLoss`	$-19.52K	USD	1 Quarter
Gain from change in fair value of derivative liability	`FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisChangeInUnrealizedGainLoss`	$175.40K	USD	2 Qtrs
Gain on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$806.87K	USD	2 Qtrs
Gain on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Gain on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Gain on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	2 Qtrs
(Increase) decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	-	USD	2 Qtrs
(Increase) decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-12.50K	USD	2 Qtrs
(Increase) decrease in loans receivable	`IncreaseDecreaseInReceivables`	-	USD	2 Qtrs
(Increase) decrease in loans receivable	`IncreaseDecreaseInReceivables`	$13.58K	USD	2 Qtrs
(Decrease) increase in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$4.43K	USD	2 Qtrs
(Decrease) increase in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-22.14K	USD	2 Qtrs
(Decrease) increase in accounts payable - related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	-	USD	2 Qtrs
(Decrease) increase in accounts payable - related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	$162.69K	USD	2 Qtrs
(Decrease) increase in accrued interest	`IncreaseDecreaseInAccruedInterestReceivableNet`	$208.06K	USD	2 Qtrs
(Decrease) increase in accrued interest	`IncreaseDecreaseInAccruedInterestReceivableNet`	$41.33K	USD	2 Qtrs
Net cash provided (used) in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-871.71K	USD	2 Qtrs
Net cash provided (used) in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-26.50K	USD	2 Qtrs
Purchase of intangible assets	`PaymentsToAcquireIntangibleAssets`	-	USD	2 Qtrs
Purchase of intangible assets	`PaymentsToAcquireIntangibleAssets`	$140.35K	USD	2 Qtrs
Net cash flows used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	2 Qtrs
Net cash flows used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-140.35K	USD	2 Qtrs
Bank overdraft	`ProceedsFromRepaymentsOfBankOverdrafts`	-	USD	2 Qtrs
Bank overdraft	`ProceedsFromRepaymentsOfBankOverdrafts`	$35.00	USD	2 Qtrs
Proceeds from convertible notes payable	`ProceedsFromNotesPayable`	$38.00K	USD	2 Qtrs
Proceeds from convertible notes payable	`ProceedsFromNotesPayable`	$845.00K	USD	2 Qtrs
Due to related party	`ProceedsFromContributionsFromAffiliates`	$12.00K	USD	2 Qtrs
Due to related party	`ProceedsFromContributionsFromAffiliates`	-	USD	2 Qtrs
Proceeds from loan payable	`ProceedsFromLoans`	$5.03K	USD	2 Qtrs
Proceeds from loan payable	`ProceedsFromLoans`	-	USD	2 Qtrs
Common stock issued for asset purchase	`ProceedsFromIssuanceOfCommonStock`	$150.00K	USD	2 Qtrs
Common stock issued for asset purchase	`ProceedsFromIssuanceOfCommonStock`	-	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$38.00K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.01M	USD	2 Qtrs
Change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$11.50K	USD	2 Qtrs
Change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	-	USD	2 Qtrs
Cash and cash equivalents at the beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash and cash equivalents at the beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$13.80K	USD	Point-in-time
Cash and cash equivalents at the beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash and cash equivalents at the beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$2.30K	USD	Point-in-time
Cash and cash equivalents at the end of the period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash and cash equivalents at the end of the period	`CashAndCashEquivalentsAtCarryingValue`	$13.80K	USD	Point-in-time
Cash and cash equivalents at the end of the period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash and cash equivalents at the end of the period	`CashAndCashEquivalentsAtCarryingValue`	$2.30K	USD	Point-in-time
Common stock issued for conversion of debt	`CommonStockIssuedForConversionOfDebt`	$559.54K	USD	2 Qtrs
Common stock issued for conversion of debt	`CommonStockIssuedForConversionOfDebt`	$60.97K	USD	2 Qtrs
Debt discount from derivative liability	`DebtDiscountFromDerivativeLiability`	$1.38M	USD	2 Qtrs
Debt discount from derivative liability	`DebtDiscountFromDerivativeLiability`	$38.00K	USD	2 Qtrs

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