10-K Filing

GOLDEN MATRIX GROUP, INC. CIK: 1437925 FY 2018

Filing Information

Form Type	10-K
Accession Number	`0001477932-18-005042`
Period End Date	20180731
Filing Date	20181029
Fiscal Year	2018
Fiscal Period	FY
XBRL Instance	gmgi-20180731.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 66 Income Statement 39 Cash Flow Statement 57 Stockholders Equity 19

Balance Sheet 66 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	20.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$446.58K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.30K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$25.17K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1,000.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	1,000.00	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	-	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$10.01K	USD	Point-in-time
Accounts receivable - related party	`AccountsReceivableRelatedPartiesCurrent`	$62.50K	USD	Point-in-time
Accounts receivable - related party	`AccountsReceivableRelatedPartiesCurrent`	$362.29K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	-	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$1.00K	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`	6.00B	shares	Point-in-time
Total current assets	`AssetsCurrent`	$87.67K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$819.87K	USD	Point-in-time
Total assets	`Assets`	$819.87K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	141.10M	shares	Point-in-time
Total assets	`Assets`	$87.67K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	2.62B	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	2.62B	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	141.10M	shares	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$21.09K	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$14.39K	USD	Point-in-time
Accounts payable - related party	`AccountsPayableRelatedPartiesCurrent`	$376.22K	USD	Point-in-time
Accounts payable - related party	`AccountsPayableRelatedPartiesCurrent`	$384.98K	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	`DepositLiabilitiesAccruedInterest`	$155.38K	USD	Point-in-time
Accrued interest	`DepositLiabilitiesAccruedInterest`	$147.41K	USD	Point-in-time
Settlement Payable	`SettlementLiabilitiesCurrent`	$9.30K	USD	Point-in-time
Convertible notes payable, net of discount	`ConvertibleNotesPayableCurrent`	$30.00K	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`	$11.93K	USD	Point-in-time
Convertible notes payable- related party-in default	`DueToRelatedPartiesCurrent`	$495.71K	USD	Point-in-time
Convertible notes payable- related party-in default	`DueToRelatedPartiesCurrent`	$795.71K	USD	Point-in-time
Contingent liability-related party	`ContingentLiabilityrelatedParty`	$1.06M	USD	Point-in-time
Contingent liability-related party	`ContingentLiabilityrelatedParty`	-	USD	Point-in-time
Contingent liability-related party	`ContingentLiabilityrelatedParty`	$1.06M	USD	Point-in-time
Derivative liabilities - note conversion feature	`DerivativeLiabilitiesCurrent`	$11.93K	USD	Point-in-time
Derivative liabilities - note conversion feature	`DerivativeLiabilitiesCurrent`	$136.18K	USD	Point-in-time
Total Current liabilities	`LiabilitiesCurrent`	$1.62M	USD	Point-in-time
Total Current liabilities	`LiabilitiesCurrent`	$2.16M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.62M	USD	Point-in-time
Total liabilities	`Liabilities`	$2.16M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock: $0.00001 par value, 6,000,000,000 and 2,480,000,000 shares authorized, 2,622,904,757 and 141,096,983 shares issued and outstanding, respectively	`CommonStockValue`	$1.41K	USD	Point-in-time
Common stock: $0.00001 par value, 6,000,000,000 and 2,480,000,000 shares authorized, 2,622,904,757 and 141,096,983 shares issued and outstanding, respectively	`CommonStockValue`	$26.23K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$25.35M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$26.84M	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`	$-28.21M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-26.89M	USD	Point-in-time
Total shareholders' deficit	`StockholdersEquity`	$-1.54M	USD	Point-in-time
Total shareholders' deficit	`StockholdersEquity`	$-1.34M	USD	Point-in-time
Total shareholders' deficit	`StockholdersEquity`	$-3.98M	USD	Point-in-time
Total liabilities and shareholders' deficit	`LiabilitiesAndStockholdersEquity`	$87.67K	USD	Point-in-time
Total liabilities and shareholders' deficit	`LiabilitiesAndStockholdersEquity`	$819.87K	USD	Point-in-time

Income Statement 39 line items

Line Item	Tag	Value	Unit	Period
Revenues-related party	`RevenueFromRelatedParties`	$915.80K	USD	Annual
Revenues-related party	`RevenueFromRelatedParties`	$120.00K	USD	Annual
Cost of goods sold	`CostOfRevenue`	$50.00K	USD	Annual
Cost of goods sold	`CostOfRevenue`	$72.00K	USD	Annual
Gross profit	`GrossProfit`	$70.00K	USD	Annual
Gross profit	`GrossProfit`	$843.80K	USD	Annual
G&A expenses	`GeneralAndAdministrativeExpense`	$186.04K	USD	Annual
G&A expenses	`GeneralAndAdministrativeExpense`	$385.00	USD	Annual
G&A expenses- related party	`CostsAndExpensesRelatedParty`	$250.22K	USD	Annual
G&A expenses- related party	`CostsAndExpensesRelatedParty`	$209.10K	USD	Annual
Compensation expense - Acquisition cost - related party	`CompensationExpenseAcquisitionCostRelatedParty`	-	USD	Annual
Compensation expense - Acquisition cost - related party	`CompensationExpenseAcquisitionCostRelatedParty`	$1.24M	USD	Point-in-time
Compensation expense - Acquisition cost - related party	`CompensationExpenseAcquisitionCostRelatedParty`	$1.24M	USD	Annual
Professional fees	`ProfessionalFees`	$69.83K	USD	Annual
Professional fees	`ProfessionalFees`	$67.69K	USD	Annual
Amortization expense	`OtherDepreciationAndAmortization`	-	USD	Annual
Amortization expense	`OtherDepreciationAndAmortization`	$129.11K	USD	Annual
Total operating expenses	`OperatingExpenses`	$320.44K	USD	Annual
Total operating expenses	`OperatingExpenses`	$1.83M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-250.44K	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-990.95K	USD	Annual
Interest expense	`InterestExpense`	$162.04K	USD	Annual
Interest expense	`InterestExpense`	$413.65K	USD	Annual
Gain on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$854.02K	USD	Annual
Gain on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$129.00	USD	Annual
Gain (loss) on derivative liability	`FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisChangeInUnrealizedGainLoss`	$1.61M	USD	Annual
Gain (loss) on derivative liability	`FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisChangeInUnrealizedGainLoss`	$-165.51K	USD	Annual
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$2.05M	USD	Annual
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$-327.43K	USD	Annual
Net income (Loss)	`NetIncomeLoss`	$1.80M	USD	Annual
Net income (Loss)	`NetIncomeLoss`	$-1.32M	USD	Annual
Net earnings (loss) per common share - basic	`EarningsPerShareBasic`	-	USD	Annual
Net earnings (loss) per common share - basic	`EarningsPerShareBasic`	$0.04	USD	Annual
Net earnings (loss) per common share diluted	`EarningsPerShareDiluted`	-	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`	1.16B	shares	Annual
Weighted average number of common shares outstanding - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	1.16B	shares	Annual
Weighted average number of common shares outstanding - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	1.80B	shares	Annual

Cash Flow Statement 57 line items

Line Item	Tag	Value	Unit	Period
Net Income (Loss)	`NetIncomeLoss`	$1.80M	USD	Annual
Net Income (Loss)	`NetIncomeLoss`	$-1.32M	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`	$-165.51K	USD	Annual
Fair value of stock option issued for services	`FairValueOfStockOptionIssuedForServices`	-	USD	Annual
Fair value of stock option issued for services	`FairValueOfStockOptionIssuedForServices`	$49.20K	USD	Annual
Fair value of shares issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	-	USD	Annual
Fair value of shares issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$201.11K	USD	Annual
Amortization expense	`DepreciationAndAmortization`	$327.65K	USD	Annual
Amortization expense	`DepreciationAndAmortization`	$107.30K	USD	Annual
Gain on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$854.02K	USD	Annual
Gain on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$129.00	USD	Annual
Compensation expense - Acquisition cost - related party	`CompensationExpenseAcquisitionCostRelatedParty`	-	USD	Annual
Compensation expense - Acquisition cost - related party	`CompensationExpenseAcquisitionCostRelatedParty`	$1.24M	USD	Point-in-time
Compensation expense - Acquisition cost - related party	`CompensationExpenseAcquisitionCostRelatedParty`	$1.24M	USD	Annual
Penalty on convertible notes payable	`PenaltyOnConvertibleNotesPayable`	$11.80K	USD	Annual
Penalty on convertible notes payable	`PenaltyOnConvertibleNotesPayable`	-	USD	Annual
(Increase) decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-10.01K	USD	Annual
(Increase) decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-52.50K	USD	Annual
(Increase) decrease in accounts receivable - related party	`IncreaseDecreaseInAccountsReceivableRelatedParties`	-	USD	Annual
(Increase) decrease in accounts receivable - related party	`IncreaseDecreaseInAccountsReceivableRelatedParties`	$-299.79K	USD	Annual
(Increase) decrease in Prepaid expense	`IncreaseDecreaseInPrepaidExpense`	$-1.00K	USD	Annual
(Increase) decrease in Prepaid expense	`IncreaseDecreaseInPrepaidExpense`	-	USD	Annual
(Decrease) increase in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-11.64K	USD	Annual
(Decrease) increase in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-11.70K	USD	Annual
(Decrease) increase in accounts payable - related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	$306.54K	USD	Annual
(Decrease) increase in accounts payable - related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	$111.23K	USD	Annual
(Decrease) increase in accrued interest	`IncreaseDecreaseInAccruedLiabilities`	$54.74K	USD	Annual
(Decrease) increase in accrued interest	`IncreaseDecreaseInAccruedLiabilities`	$78.91K	USD	Annual
Net cash provided (used) in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-15.13K	USD	Annual
Net cash provided (used) in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$302.72K	USD	Annual
Proceeds from notes payable	`ProceedsFromNotesPayable`	$38.00K	USD	Annual
Proceeds from notes payable	`ProceedsFromNotesPayable`	$38.00K	USD	Annual
Proceeds from subscription agreement	`ProceedsFromSubscriptionAgreement`	-	USD	Annual
Proceeds from subscription agreement	`ProceedsFromSubscriptionAgreement`	$120.00K	USD	Annual
Repayments on settlement payable	`RepaymentsOfShortTermDebt`	-	USD	Annual
Repayments on settlement payable	`RepaymentsOfShortTermDebt`	$39.30K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$118.70K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$38.00K	USD	Annual
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$421.41K	USD	Annual
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$22.87K	USD	Annual
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$446.58K	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$2.30K	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$25.17K	USD	Point-in-time
Cash and cash equivalents at end of year	`CashAndCashEquivalentsAtCarryingValue`	$446.58K	USD	Point-in-time
Cash and cash equivalents at end of year	`CashAndCashEquivalentsAtCarryingValue`	$2.30K	USD	Point-in-time
Cash and cash equivalents at end of year	`CashAndCashEquivalentsAtCarryingValue`	$25.17K	USD	Point-in-time
Settlement of derivative liability	`SettlementOfDerivativeLiability`	-	USD	Annual
Settlement of derivative liability	`SettlementOfDerivativeLiability`	$160.44K	USD	Annual
Common stock issued for conversion of debt	`ConversionOfStockAmountIssued1`	$644.22K	USD	Annual
Common stock issued for conversion of debt	`ConversionOfStockAmountIssued1`	$674.96K	USD	Annual
Debt discount from derivative liability	`DebtDiscountFromDerivativeLiability`	$49.80K	USD	Annual
Debt discount from derivative liability	`DebtDiscountFromDerivativeLiability`	$38.00K	USD	Annual
Settlement payable	`SettlementPayable`	-	USD	Annual
Settlement payable	`SettlementPayable`	$47.92K	USD	Annual
Shares issued for settlement of accounts payable - related party	`SharesIssuedForSettlementOfAccountsPayableRelatedParty`	$120.00K	USD	Annual
Shares issued for settlement of accounts payable - related party	`SharesIssuedForSettlementOfAccountsPayableRelatedParty`	-	USD	Annual

Stockholders Equity 19 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance, Amount	`StockholdersEquity`	$-1.54M	USD	Point-in-time
Beginning Balance, Amount	`StockholdersEquity`	$-1.34M	USD	Point-in-time
Beginning Balance, Amount	`StockholdersEquity`	$-3.98M	USD	Point-in-time
Adjustments for reverse stock split, Amount	`AdjustmentsForReverseStockSplitAmount`	$8.15K	USD	Annual
Issuance of shares for convertible notes conversion, Amount	`IssuanceOfSharesForConvertibleNotesConversionAmount`	$535.40K	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
Issuance of shares for convertible notes conversion ?related party, Amount	`IssuanceOfSharesForConvertibleNotesConversionRelatedPartyAmount`	$300.00K	USD	Annual
Stock payable	`StockPayableEquity`	$1.60K	USD	Annual
Issuance of shares for subscription agreement, Amount	`IssuanceOfSharesForSubscriptionAgreementAmount`	$120.00K	USD	Annual
Issuance of shares for services, Amount	`StockIssuedDuringPeriodValueIssuedForServices`	-	USD	Annual
Issuance of shares for services, Amount	`StockIssuedDuringPeriodValueIssuedForServices`	$236.70K	USD	Annual
Issuance of shares for settlement of accounts payable ?related party, Amount	`IssuanceOfSharesForSettlementOfAccountsPayableRelatedPartyAmount`	$120.00K	USD	Annual
Fair value of options/warrants issued for services	`FairValueOfOptionswarrantsIssuedForServices`	$201.11K	USD	Annual
Net income	`NetIncomeLoss`	$1.80M	USD	Annual
Net income	`NetIncomeLoss`	$-1.32M	USD	Annual
Ending Balance, Amount	`StockholdersEquity`	$-1.54M	USD	Point-in-time
Ending Balance, Amount	`StockholdersEquity`	$-1.34M	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.