10-K Filing

GOLDEN MATRIX GROUP, INC. CIK: 1437925 FY 2017

Filing Information

Form Type	10-K
Accession Number	`0001477932-17-005396`
Period End Date	20170731
Filing Date	20171107
Fiscal Year	2017
Fiscal Period	FY
XBRL Instance	gmgi-20170731.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 61 Income Statement 40 Cash Flow Statement 44 Stockholders Equity 20

Balance Sheet 61 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Cash and cash equivalents	`Cash`	$2.30K	USD	Point-in-time
Cash and cash equivalents	`Cash`	$25.17K	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	-	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	`AccountsReceivableNetCurrent`	$62.50K	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$10.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$12.30K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$87.67K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$12.30K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$87.67K	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`	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
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$21.09K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	141.10M	shares	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$35.95K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	3.47B	shares	Point-in-time
Accounts payable - related party	`AccountsPayableRelatedPartiesCurrent`	$78.45K	USD	Point-in-time
Accounts payable - related party	`AccountsPayableRelatedPartiesCurrent`	$384.98K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	2.60M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	3.47B	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	141.10M	shares	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`	$259.17K	USD	Point-in-time
Accrued interest	`AccruedInterest`	$147.41K	USD	Point-in-time
Convertible notes payable, net of discount	`ConvertibleNotesPayableCurrent`	$395.65K	USD	Point-in-time
Convertible notes payable, net of discount	`ConvertibleNotesPayableCurrent`	$51.78K	USD	Point-in-time
Convertible notes payable , net - in default	`NotesAndLoansPayable`	$85.66K	USD	Point-in-time
Convertible notes payable , net - in default	`NotesAndLoansPayable`	$515.85K	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`	$136.18K	USD	Point-in-time
Derivative liabilities - note conversion features	`DerivativeLiabilitiesCurrent`	$1.94M	USD	Point-in-time
Total current Liabilities	`LiabilitiesCurrent`	$1.62M	USD	Point-in-time
Total current Liabilities	`LiabilitiesCurrent`	$3.99M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.62M	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, 141,096,983 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, 141,096,983 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, 141,096,983 and 2,597,806 shares issued and outstanding, respectively	`CommonStockValue`	$1.41K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$25.35M	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`	$1.60K	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
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-26.89M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-28.69M	USD	Point-in-time
Total shareholders deficit	`StockholdersEquity`	$-1.54M	USD	Point-in-time
Total shareholders deficit	`StockholdersEquity`	$-3.98M	USD	Point-in-time
Total shareholders deficit	`StockholdersEquity`	$-2.82M	USD	Point-in-time
Total liabilities and shareholders deficit	`LiabilitiesAndStockholdersEquity`	$87.67K	USD	Point-in-time
Total liabilities and shareholders deficit	`LiabilitiesAndStockholdersEquity`	$12.30K	USD	Point-in-time

Income Statement 40 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$20.00K	USD	Annual
Revenues	`Revenues`	$120.00K	USD	Annual
Cost of goods sold	`CostOfGoodsSold`	-	USD	Annual
Cost of goods sold	`CostOfGoodsSold`	$50.00K	USD	Annual
Gross profit	`GrossProfit`	$20.00K	USD	Annual
Gross profit	`GrossProfit`	$70.00K	USD	Annual
G&A expenses	`GeneralAndAdministrativeExpense`	$385.00	USD	Annual
G&A expenses	`GeneralAndAdministrativeExpense`	$261.68K	USD	Annual
G&A expenses- related party	`CostsAndExpensesRelatedParty`	$73.66K	USD	Annual
G&A expenses- related party	`CostsAndExpensesRelatedParty`	$250.22K	USD	Annual
Management fees	`ManagementFeeExpense`	-	USD	Annual
Management fees	`ManagementFeeExpense`	$110.00K	USD	Annual
Professional fees	`ProfessionalFees`	$46.76K	USD	Annual
Professional fees	`ProfessionalFees`	$69.83K	USD	Annual
Bad debt expense	`ProvisionForDoubtfulAccounts`	-	USD	Annual
Bad debt expense	`ProvisionForDoubtfulAccounts`	$49.54K	USD	Annual
Amortization and impairment expenses	`DepreciationAndAmortization`	-	USD	Annual
Amortization and impairment expenses	`DepreciationAndAmortization`	$4.67M	USD	Annual
Total operating expenses	`OperatingExpenses`	$5.22M	USD	Annual
Total operating expenses	`OperatingExpenses`	$320.44K	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-5.20M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-250.44K	USD	Annual
Interest expense	`InterestExpense`	$4.55M	USD	Annual
Interest expense	`InterestExpense`	$413.65K	USD	Annual
Gain on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$2.70M	USD	Annual
Gain on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$854.02K	USD	Annual
Unrealized gain (loss) on derivative liability note conversion feature	`FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisChangeInUnrealizedGainLoss`	$1.61M	USD	Annual
Unrealized gain (loss) on derivative liability note conversion feature	`FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisChangeInUnrealizedGainLoss`	$-2.96M	USD	Annual
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$2.05M	USD	Annual
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$-4.81M	USD	Annual
Net Income (Loss)	`NetIncomeLoss`	$1.80M	USD	Annual
Net Income (Loss)	`NetIncomeLoss`	$-10.01M	USD	Annual
Net earnings (loss) per common share basic	`EarningsPerShareBasic`	$-45.08	USD	Annual
Net earnings (loss) per common share basic	`EarningsPerShareBasic`	$0.04	USD	Annual
Net earnings (loss) per common share diluted	`EarningsPerShareDiluted`	$-45.08	USD	Annual
Net earnings (loss) per common share diluted	`EarningsPerShareDiluted`	-	USD	Annual
Weighted average number of common shares outstanding - Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	49.83M	shares	Annual
Weighted average number of common shares outstanding - Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	221,956.00	shares	Annual
Weighted average number of common shares outstanding - Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	-	shares	Annual
Weighted average number of common shares outstanding - Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	1.80B	shares	Annual

Cash Flow Statement 44 line items

Line Item	Tag	Value	Unit	Period
Net Income (Loss)	`NetIncomeLoss`	$1.80M	USD	Annual
Net Income (Loss)	`NetIncomeLoss`	$-10.01M	USD	Annual
Unrealized gain (loss) on derivative liabilities-note conversion feature	`FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisChangeInUnrealizedGainLoss`	$1.61M	USD	Annual
Unrealized gain (loss) on derivative liabilities-note conversion feature	`FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisChangeInUnrealizedGainLoss`	$-2.96M	USD	Annual
Amortization and impairment	`DepreciationAndAmortization`	-	USD	Annual
Amortization and impairment	`DepreciationAndAmortization`	$4.67M	USD	Annual
Amortization expense of debt discount	`AdjustmentForAmortization`	$327.65K	USD	Annual
Amortization expense of debt discount	`AdjustmentForAmortization`	-	USD	Annual
Gain on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$2.70M	USD	Annual
Gain on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$854.02K	USD	Annual
(Increase) decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-10.00K	USD	Annual
(Increase) decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-52.50K	USD	Annual
(Increase) decrease in loans receivable	`IncreaseDecreaseInReceivables`	$63.12K	USD	Annual
(Increase) decrease in loans receivable	`IncreaseDecreaseInReceivables`	-	USD	Annual
(Decrease) increase in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-11.64K	USD	Annual
(Decrease) increase in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$1.02M	USD	Annual
(Decrease) increase in accounts payable - related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	$306.54K	USD	Annual
(Decrease) increase in accounts payable - related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	$78.45K	USD	Annual
(Decrease) increase in accrued interest	`IncreaseDecreaseInAccruedInterestReceivableNet`	$78.91K	USD	Annual
(Decrease) increase in accrued interest	`IncreaseDecreaseInAccruedInterestReceivableNet`	$3.92M	USD	Annual
Net cash provided (used) in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.30K	USD	Annual
Net cash provided (used) in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-15.13K	USD	Annual
Proceeds from notes payable	`ProceedsFromNotesPayable`	$38.00K	USD	Annual
Proceeds from notes payable	`ProceedsFromNotesPayable`	-	USD	Annual
Capital contribution from a related party	`ProceedsFromContributionsFromAffiliates`	-	USD	Annual
Capital contribution from a related party	`ProceedsFromContributionsFromAffiliates`	$1.00K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.00K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$38.00K	USD	Annual
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$22.87K	USD	Annual
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$2.30K	USD	Annual
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$25.17K	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	-	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`	$25.17K	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`	$2.30K	USD	Point-in-time
Common stock issued for acquisition of assets	`NoncashOrPartNoncashAcquisitionValueOfAssetsAcquired1`	-	USD	Annual
Common stock issued for acquisition of assets	`NoncashOrPartNoncashAcquisitionValueOfAssetsAcquired1`	$500.00K	USD	Annual
Common stock issued for conversion of debt	`CommonStockIssuedForConversionOfDebt`	-	USD	Annual
Common stock issued for conversion of debt	`CommonStockIssuedForConversionOfDebt`	$644.22K	USD	Annual
Debt discount from derivative liability	`DebtDiscountFromDerivativeLiability`	$38.00K	USD	Annual
Debt discount from derivative liability	`DebtDiscountFromDerivativeLiability`	-	USD	Annual
Note issued to acquire intangible asset	`NoteIssuedToAcquireIntangibleAsset`	$2.37M	USD	Annual
Note issued to acquire intangible asset	`NoteIssuedToAcquireIntangibleAsset`	-	USD	Annual

Stockholders Equity 20 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance, Amount	`StockholdersEquity`	$-1.54M	USD	Point-in-time
Beginning Balance, Amount	`StockholdersEquity`	$-3.98M	USD	Point-in-time
Beginning Balance, Amount	`StockholdersEquity`	$-2.82M	USD	Point-in-time
Adjustments for reverse stock split and change in par value	`AdjustmentsForReverseStockSplitAndChangeInParValue`	-	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`	$74.68K	USD	Annual
Conversion of promissory notes to stock February 1,2016-April 30,2016, Amount	`ConversionOfPromissoryNotesToStockFebruary12016april302016Amount`	$118.93K	USD	Annual
Conversion of promissory notes to stock May 1,2016-July 31, 2016, Amount	`ConversionOfPromissoryNotesToStockMay12016july312016Amount`	$2.40M	USD	Annual
Note Cancellation pursuant to agreement	`NoteCancellationPursuantToAgreement`	$3.96M	USD	Annual
Common stock issued for We buy Gold	`CommonStockIssuedForWeBuyGold`	$1.86M	USD	Annual
Common stock issued for Luxor IP and Know how , Amount	`CommonStockIssuedForLuxorIpAndKnowHowAmount`	$437.49K	USD	Annual
Adjustments for reverse stock split, Amount	`AdjustmentsForReverseStockSplitAmount`	$8.15K	USD	Annual
Issuance of shares for convertible notes conversion, Amount	`IssuanceOfSharesForConvertibleNotesConversionAmount`	$334.06K	USD	Annual
Issuance of shares for convertible notes conversion related party, Amount	`IssuanceOfSharesForConvertibleNotesConversionRelatedPartyAmount`	$300.40K	USD	Annual
Stock payable	`StockPayableEquity`	$1.60K	USD	Annual
Net Income (Loss)	`NetIncomeLoss`	$1.80M	USD	Annual
Net Income (Loss)	`NetIncomeLoss`	$-10.01M	USD	Annual
Ending Balance, Amount	`StockholdersEquity`	$-1.54M	USD	Point-in-time
Ending Balance, Amount	`StockholdersEquity`	$-3.98M	USD	Point-in-time
Ending Balance, Amount	`StockholdersEquity`	$-2.82M	USD	Point-in-time

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