10-Q Filing

GOLDEN MATRIX GROUP, INC. CIK: 1437925 Q3 2017

Filing Information

Form Type	10-Q
Accession Number	`0001477932-17-002816`
Period End Date	20170430
Filing Date	20170614
Fiscal Year	2017
Fiscal Period	Q3
XBRL Instance	gmgi-20170430.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 60 Income Statement 76 Cash Flow Statement 56

Balance Sheet 60 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Cash and cash equivalents	`Cash`	$23.80K	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	-	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`	$42.50K	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
Total current assets	`AssetsCurrent`	$12.30K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$66.30K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$12.30K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$66.30K	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`	2.48B	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	19.87M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	93.19M	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
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$35.95K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	223.00	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	3.47B	shares	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$22.22K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	3.47B	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	93.19M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	2.60M	shares	Point-in-time
Accounts payable - related party	`AccountsPayableRelatedPartiesCurrent`	$323.65K	USD	Point-in-time
Accounts payable - related party	`AccountsPayableRelatedPartiesCurrent`	$78.45K	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`	$135.74K	USD	Point-in-time
Accrued interest	`AccruedInterest`	$259.17K	USD	Point-in-time
Convertible notes payable, net of discount	`ConvertibleNotesPayableCurrent`	$43.52K	USD	Point-in-time
Convertible notes payable, net of discount	`ConvertibleNotesPayableCurrent`	$395.65K	USD	Point-in-time
Convertible notes payable , net - in default	`NotesAndLoansPayable`	$515.85K	USD	Point-in-time
Convertible notes payable , net - in default	`NotesAndLoansPayable`	$139.90K	USD	Point-in-time
Convertible notes payable - related party	`DueToRelatedPartiesCurrent`	$795.71K	USD	Point-in-time
Convertible notes payable - related party	`DueToRelatedPartiesCurrent`	$767.91K	USD	Point-in-time
Derivative liabilities - note conversion features	`DerivativeLiabilitiesCurrent`	$1.94M	USD	Point-in-time
Derivative liabilities - note conversion features	`DerivativeLiabilitiesCurrent`	$359.74K	USD	Point-in-time
Total Current liabilities	`LiabilitiesCurrent`	$3.99M	USD	Point-in-time
Total Current liabilities	`LiabilitiesCurrent`	$1.82M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$1.82M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$3.99M	USD	Point-in-time
Common stock: $0.00001 par value; 2,480,000,000 shares authorized; 93,187,906 and 2,597,806 shares issued and outstanding, respectively	`CommonStockValue`	$26.00	USD	Point-in-time
Common stock: $0.00001 par value; 2,480,000,000 shares authorized; 93,187,906 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; 93,187,906 and 2,597,806 shares issued and outstanding, respectively	`CommonStockValue`	$932.00	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$24.71M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$25.31M	USD	Point-in-time
Stock payable	`StockPayable`	-	USD	Point-in-time
Stock payable	`StockPayable`	-	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`	$-27.06M	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`	$-1.76M	USD	Point-in-time
TOTAL LIABILITIES & STOCKHOLDERS EQUITY (DEFICIT)	`LiabilitiesAndStockholdersEquity`	$12.30K	USD	Point-in-time
TOTAL LIABILITIES & STOCKHOLDERS EQUITY (DEFICIT)	`LiabilitiesAndStockholdersEquity`	$66.30K	USD	Point-in-time

Income Statement 76 line items

Line Item	Tag	Value	Unit	Period
Sales- related party	`SalesRevenueNet`	-	USD	3 Qtrs
Sales- related party	`SalesRevenueNet`	$30.00K	USD	1 Quarter
Sales- related party	`SalesRevenueNet`	$90.00K	USD	3 Qtrs
Sales- related party	`SalesRevenueNet`	-	USD	1 Quarter
Accounting and audit fees	`LegalFees`	$36.40K	USD	3 Qtrs
Accounting and audit fees	`LegalFees`	$4.53K	USD	1 Quarter
Accounting and audit fees	`LegalFees`	$4.00K	USD	1 Quarter
Accounting and audit fees	`LegalFees`	$9.96K	USD	3 Qtrs
Amortization expense	`DepreciationAndAmortization`	-	USD	1 Quarter
Amortization expense	`DepreciationAndAmortization`	$248.59K	USD	1 Quarter
Amortization expense	`DepreciationAndAmortization`	-	USD	3 Qtrs
Amortization expense	`DepreciationAndAmortization`	$258.24K	USD	3 Qtrs
G&A expenses	`GeneralAndAdministrativeExpense`	$50.30K	USD	3 Qtrs
G&A expenses	`GeneralAndAdministrativeExpense`	$1.14M	USD	3 Qtrs
G&A expenses	`GeneralAndAdministrativeExpense`	-	USD	1 Quarter
G&A expenses	`GeneralAndAdministrativeExpense`	$370.79K	USD	1 Quarter
G&A expenses- related party	`CostsAndExpensesRelatedParty`	$4.65K	USD	3 Qtrs
G&A expenses- related party	`CostsAndExpensesRelatedParty`	$4.65K	USD	1 Quarter
G&A expenses- related party	`CostsAndExpensesRelatedParty`	$57.03K	USD	1 Quarter
G&A expenses- related party	`CostsAndExpensesRelatedParty`	$189.32K	USD	3 Qtrs
Management fees	`ManagementFeeExpense`	$110.00K	USD	3 Qtrs
Management fees	`ManagementFeeExpense`	$20.00K	USD	1 Quarter
Management fees	`ManagementFeeExpense`	-	USD	3 Qtrs
Management fees	`ManagementFeeExpense`	-	USD	1 Quarter
Professional fees	`ProfessionalFees`	$1.68K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$16.87K	USD	3 Qtrs
Professional fees	`ProfessionalFees`	$25.58K	USD	3 Qtrs
Professional fees	`ProfessionalFees`	$9.71K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$658.28K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$1.54M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$301.60K	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$62.71K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-1.54M	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-658.28K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-211.60K	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-32.71K	USD	1 Quarter
Other income	`OtherIncome`	-	USD	1 Quarter
Other income	`OtherIncome`	$21.15K	USD	3 Qtrs
Other income	`OtherIncome`	-	USD	1 Quarter
Other income	`OtherIncome`	-	USD	3 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`	$806.87K	USD	3 Qtrs
Gain on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	3 Qtrs
Fair value change of derivative liability	`FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisChangeInUnrealizedGainLoss`	$-20.73M	USD	3 Qtrs
Fair value change of derivative liability	`FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisChangeInUnrealizedGainLoss`	$270.45K	USD	1 Quarter
Fair value change of derivative liability	`FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisChangeInUnrealizedGainLoss`	$1.41M	USD	3 Qtrs
Fair value change of derivative liability	`FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisChangeInUnrealizedGainLoss`	$-20.90M	USD	1 Quarter
Interest on convertible notes	`InterestExpenseDebt`	$916.21K	USD	1 Quarter
Interest on convertible notes	`InterestExpenseDebt`	$384.24K	USD	3 Qtrs
Interest on convertible notes	`InterestExpenseDebt`	$37.51K	USD	1 Quarter
Interest on convertible notes	`InterestExpenseDebt`	$3.51M	USD	3 Qtrs
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$232.94K	USD	1 Quarter
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$-21.82M	USD	1 Quarter
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$1.84M	USD	3 Qtrs
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$-24.21M	USD	3 Qtrs
Net Income (Loss)	`NetIncomeLoss`	$1.63M	USD	3 Qtrs
Net Income (Loss)	`NetIncomeLoss`	$-22.48M	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$-25.76M	USD	3 Qtrs
Net Income (Loss)	`NetIncomeLoss`	$200.23K	USD	1 Quarter
Weighted average number of common shares outstanding -Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	782,976.00	shares	3 Qtrs
Weighted average number of common shares outstanding -Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	1.49M	shares	1 Quarter
Weighted average number of common shares outstanding -Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	29.84M	shares	3 Qtrs
Weighted average number of common shares outstanding -Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	73.82M	shares	1 Quarter
Weighted average number of common shares outstanding -Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	782,976.00	shares	3 Qtrs
Weighted average number of common shares outstanding -Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	1.22B	shares	3 Qtrs
Weighted average number of common shares outstanding -Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	1.30B	shares	1 Quarter
Weighted average number of common shares outstanding -Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	1.49M	shares	1 Quarter
Net income/(loss) per common share - Basic	`EarningsPerShareBasic`	$-15.12	USD	1 Quarter
Net income/(loss) per common share - Basic	`EarningsPerShareBasic`	-	USD	1 Quarter
Net income/(loss) per common share - Basic	`EarningsPerShareBasic`	$0.05	USD	3 Qtrs
Net income/(loss) per common share - Basic	`EarningsPerShareBasic`	$-32.89	USD	3 Qtrs
Net income/(loss) per common share - Dilutied	`EarningsPerShareDiluted`	-	USD	3 Qtrs
Net income/(loss) per common share - Dilutied	`EarningsPerShareDiluted`	$-32.89	USD	3 Qtrs
Net income/(loss) per common share - Dilutied	`EarningsPerShareDiluted`	-	USD	1 Quarter
Net income/(loss) per common share - Dilutied	`EarningsPerShareDiluted`	$-15.12	USD	1 Quarter

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net Income (Loss)	`NetIncomeLoss`	$1.63M	USD	3 Qtrs
Net Income (Loss)	`NetIncomeLoss`	$-22.48M	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$-25.76M	USD	3 Qtrs
Net Income (Loss)	`NetIncomeLoss`	$200.23K	USD	1 Quarter
Amortization expense	`AdjustmentForAmortization`	$3.77M	USD	3 Qtrs
Amortization expense	`AdjustmentForAmortization`	$315.21K	USD	3 Qtrs
Gain from change in fair value of derivative liability	`FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisChangeInUnrealizedGainLoss`	$-20.73M	USD	3 Qtrs
Gain from change in fair value of derivative liability	`FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisChangeInUnrealizedGainLoss`	$270.45K	USD	1 Quarter
Gain from change in fair value of derivative liability	`FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisChangeInUnrealizedGainLoss`	$1.41M	USD	3 Qtrs
Gain from change in fair value of derivative liability	`FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisChangeInUnrealizedGainLoss`	$-20.90M	USD	1 Quarter
Gain on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Gain on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Gain on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$806.87K	USD	3 Qtrs
Gain on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	3 Qtrs
(Increase) decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-32.50K	USD	3 Qtrs
(Increase) decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	-	USD	3 Qtrs
(Increase) decrease in loans receivable	`IncreaseDecreaseInReceivables`	-	USD	3 Qtrs
(Increase) decrease in loans receivable	`IncreaseDecreaseInReceivables`	$13.58K	USD	3 Qtrs
(Decrease) increase in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-11.51K	USD	3 Qtrs
(Decrease) increase in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$36.59K	USD	3 Qtrs
(Decrease) increase in accounts payable - related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	$246.20K	USD	3 Qtrs
(Decrease) increase in accounts payable - related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	-	USD	3 Qtrs
(Decrease) increase in accrued interest	`IncreaseDecreaseInAccruedInterestReceivableNet`	$351.01K	USD	3 Qtrs
(Decrease) increase in accrued interest	`IncreaseDecreaseInAccruedInterestReceivableNet`	$61.94K	USD	3 Qtrs
Net cash provided (used) in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-862.07K	USD	3 Qtrs
Net cash provided (used) in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-16.50K	USD	3 Qtrs
Purchase of intangible assets	`PaymentsToAcquireIntangibleAssets`	-	USD	3 Qtrs
Purchase of intangible assets	`PaymentsToAcquireIntangibleAssets`	$650.00K	USD	3 Qtrs
Net cash flows used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-650.00K	USD	3 Qtrs
Net cash flows used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	3 Qtrs
Proceeds from convertible notes payable	`ProceedsFromNotesPayable`	$38.00K	USD	3 Qtrs
Proceeds from convertible notes payable	`ProceedsFromNotesPayable`	$845.00K	USD	3 Qtrs
Due to related party	`ProceedsFromContributionsFromAffiliates`	$12.00K	USD	3 Qtrs
Due to related party	`ProceedsFromContributionsFromAffiliates`	-	USD	3 Qtrs
Proceeds from loan payable	`ProceedsFromLoans`	-	USD	3 Qtrs
Proceeds from loan payable	`ProceedsFromLoans`	$5.07K	USD	3 Qtrs
Common stock issued for asset purchase	`ProceedsFromIssuanceOfCommonStock`	$650.00K	USD	3 Qtrs
Common stock issued for asset purchase	`ProceedsFromIssuanceOfCommonStock`	-	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.51M	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$38.00K	USD	3 Qtrs
Change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	-	USD	3 Qtrs
Change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$21.50K	USD	3 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`	-	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 beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$23.80K	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`	-	USD	Point-in-time
Cash and cash equivalents at the end of the period	`CashAndCashEquivalentsAtCarryingValue`	$2.30K	USD	Point-in-time
Cash and cash equivalents at the end of the period	`CashAndCashEquivalentsAtCarryingValue`	$23.80K	USD	Point-in-time
Common stock issued for conversion of debt	`CommonStockIssuedForConversionOfDebt`	-	USD	3 Qtrs
Common stock issued for conversion of debt	`CommonStockIssuedForConversionOfDebt`	$600.46K	USD	3 Qtrs
Debt discount from derivative liability	`DebtDiscountFromDerivativeLiability`	-	USD	3 Qtrs
Debt discount from derivative liability	`DebtDiscountFromDerivativeLiability`	$38.00K	USD	3 Qtrs
Note issued to acquire intangible asset	`NoteIssuedToAcquireIntangibleAsset`	-	USD	3 Qtrs
Note issued to acquire intangible asset	`NoteIssuedToAcquireIntangibleAsset`	$2.37M	USD	3 Qtrs

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