10-Q Filing

GOLDEN MATRIX GROUP, INC. CIK: 1437925 Q1 2019

Filing Information

Form Type	10-Q
Accession Number	`0001477932-18-005748`
Period End Date	20181031
Filing Date	20181127
Fiscal Year	2019
Fiscal Period	Q1
XBRL Instance	gmgi-20181031.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 67 Income Statement 40 Cash Flow Statement 56

Balance Sheet 67 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1,000.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$446.58K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$580.41K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$25.17K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$42.23K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	20.00M	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$10.01K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	1,000.00	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$10.64K	USD	Point-in-time
Accounts receivable - related parties	`AccountsReceivableRelatedPartiesCurrent`	$658.56K	USD	Point-in-time
Accounts receivable - related parties	`AccountsReceivableRelatedPartiesCurrent`	$362.29K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	-	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$1.00K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	6.00B	shares	Point-in-time
Total current assets	`AssetsCurrent`	$819.87K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	6.00B	shares	Point-in-time
Total current assets	`AssetsCurrent`	$1.25M	USD	Point-in-time
Total assets	`Assets`	$819.87K	USD	Point-in-time
Total assets	`Assets`	$1.25M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	2.62B	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	2.84B	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	2.62B	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	2.84B	shares	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$14.39K	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$34.17K	USD	Point-in-time
Accounts payable - related parties	`AccountsPayableRelatedPartiesCurrent`	$376.22K	USD	Point-in-time
Accounts payable - related parties	`AccountsPayableRelatedPartiesCurrent`	$383.55K	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`	$3.39K	USD	Point-in-time
Accrued interest	`DepositLiabilitiesAccruedInterest`	$155.38K	USD	Point-in-time
Settlement Payable - related parties	`SettlementLiabilitiesCurrent`	$9.30K	USD	Point-in-time
Settlement Payable - related parties	`SettlementLiabilitiesCurrent`	$210.00K	USD	Point-in-time
Convertible notes payable, net of discount	`ConvertibleNotesPayableCurrent`	$30.00K	USD	Point-in-time
Convertible notes payable, net of discount	`ConvertibleNotesPayableCurrent`	$30.00K	USD	Point-in-time
Convertible notes payable, net- in default	`NotesAndLoansPayable`	$10.00K	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`	-	USD	Point-in-time
Convertible notes payable- related party-in default	`DueToRelatedPartiesCurrent`	$495.71K	USD	Point-in-time
Contingent liability-related party	`ContingentLiabilityrelatedParty`	$1.06M	USD	Point-in-time
Contingent liability-related party	`ContingentLiabilityrelatedParty`	$1.07M	USD	Point-in-time
Derivative liabilities - note conversion feature	`DerivativeLiabilitiesCurrent`	$11.93K	USD	Point-in-time
Derivative liabilities - note conversion feature	`DerivativeLiabilitiesCurrent`	$26.67K	USD	Point-in-time
Total Current liabilities	`LiabilitiesCurrent`	$1.77M	USD	Point-in-time
Total Current liabilities	`LiabilitiesCurrent`	$2.16M	USD	Point-in-time
Settlement Payable related parties long-term	`DueToRelatedPartiesNoncurrent`	$145.00K	USD	Point-in-time
Settlement Payable related parties long-term	`DueToRelatedPartiesNoncurrent`	-	USD	Point-in-time
Total non-current liabilities	`LiabilitiesNoncurrent`	-	USD	Point-in-time
Total non-current liabilities	`LiabilitiesNoncurrent`	$145.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$2.16M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.92M	USD	Point-in-time
Common stock: $0.00001 par value, 6,000,000,000 shares authorized, 2,835,318,757 and 2,622,904,757 shares issued and outstanding, respectively	`CommonStockValue`	$28.35K	USD	Point-in-time
Common stock: $0.00001 par value, 6,000,000,000 shares authorized, 2,835,318,757 and 2,622,904,757 shares issued and outstanding, respectively	`CommonStockValue`	$26.23K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$27.18M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$26.84M	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`	$-27.88M	USD	Point-in-time
Total shareholders' deficit	`StockholdersEquity`	$-665.61K	USD	Point-in-time
Total shareholders' deficit	`StockholdersEquity`	$-1.34M	USD	Point-in-time
Total shareholders' deficit	`StockholdersEquity`	$-1.84M	USD	Point-in-time
Total liabilities and shareholders' deficit	`LiabilitiesAndStockholdersEquity`	$819.87K	USD	Point-in-time
Total liabilities and shareholders' deficit	`LiabilitiesAndStockholdersEquity`	$1.25M	USD	Point-in-time

Income Statement 40 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	-	USD	1 Quarter
Revenues	`Revenues`	$633.00	USD	1 Quarter
Revenues-related party	`RevenueFromRelatedParties`	$30.00K	USD	1 Quarter
Revenues-related party	`RevenueFromRelatedParties`	$638.06K	USD	1 Quarter
Cost of goods sold	`CostOfRevenue`	-	USD	1 Quarter
Cost of goods sold	`CostOfRevenue`	$69.52K	USD	1 Quarter
Gross profit	`GrossProfit`	$30.00K	USD	1 Quarter
Gross profit	`GrossProfit`	$569.17K	USD	1 Quarter
G&A expenses	`GeneralAndAdministrativeExpense`	$9.04K	USD	1 Quarter
G&A expenses	`GeneralAndAdministrativeExpense`	$78.93K	USD	1 Quarter
G&A expenses- related party	`CostsAndExpensesRelatedParty`	$39.30K	USD	1 Quarter
G&A expenses- related party	`CostsAndExpensesRelatedParty`	$66.30K	USD	1 Quarter
Loss on contingent liability - related party	`LossOnContingentLiabilityRelatedParty`	-	USD	1 Quarter
Loss on contingent liability - related party	`LossOnContingentLiabilityRelatedParty`	$16.12K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$20.83K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$20.41K	USD	1 Quarter
Amortization expense	`AdjustmentForAmortization`	$57.35K	USD	1 Quarter
Amortization expense	`AdjustmentForAmortization`	-	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$95.75K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$212.53K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$356.64K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-65.75K	USD	1 Quarter
Interest expense	`InterestExpense`	$73.71K	USD	1 Quarter
Interest expense	`InterestExpense`	$7.79K	USD	1 Quarter
Gain (loss) on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-106.00	USD	1 Quarter
Gain (loss) on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$814.00	USD	1 Quarter
Gain (loss) on derivative liability	`FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisChangeInUnrealizedGainLoss`	$-319.40K	USD	1 Quarter
Gain (loss) on derivative liability	`FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisChangeInUnrealizedGainLoss`	$-16.75K	USD	1 Quarter
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$-24.64K	USD	1 Quarter
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$-392.30K	USD	1 Quarter
Net income (Loss)	`NetIncomeLoss`	$332.00K	USD	1 Quarter
Net income (Loss)	`NetIncomeLoss`	$-458.04K	USD	1 Quarter
Net earnings (loss) per common share - basic	`EarningsPerShareBasic`	-	USD	1 Quarter
Net earnings (loss) per common share - basic	`EarningsPerShareBasic`	-	USD	1 Quarter
Net earnings (loss) per common share diluted	`EarningsPerShareDiluted`	-	USD	1 Quarter
Net earnings (loss) per common share diluted	`EarningsPerShareDiluted`	-	USD	1 Quarter
Weighted average number of common shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	267.87M	shares	1 Quarter
Weighted average number of common shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	2.74B	shares	1 Quarter
Weighted average number of common shares outstanding - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	2.77B	shares	1 Quarter
Weighted average number of common shares outstanding - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	267.87M	shares	1 Quarter

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net Income (Loss)	`NetIncomeLoss`	$332.00K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$-458.04K	USD	1 Quarter
Unrealized gain(loss) on derivative liabilities-note conversion feature	`FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisChangeInUnrealizedGainLoss`	$-319.40K	USD	1 Quarter
Unrealized gain(loss) on derivative liabilities-note conversion feature	`FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisChangeInUnrealizedGainLoss`	$-16.75K	USD	1 Quarter
Fair value of stock option issued for services	`FairValueOfStockOptionIssuedForServices`	-	USD	1 Quarter
Fair value of stock option issued for services	`FairValueOfStockOptionIssuedForServices`	$126.87K	USD	1 Quarter
Fair value of shares issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$2.10K	USD	1 Quarter
Fair value of shares issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	-	USD	1 Quarter
Amortization expense	`DepreciationAndAmortization`	$57.86K	USD	1 Quarter
Amortization expense	`DepreciationAndAmortization`	$3.30K	USD	1 Quarter
Gain on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-106.00	USD	1 Quarter
Gain on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$814.00	USD	1 Quarter
Fair value loss on contingent liability-related party	`FairValueLossOnContingentLiabilityrelatedParty`	$16.12K	USD	1 Quarter
Fair value loss on contingent liability-related party	`FairValueLossOnContingentLiabilityrelatedParty`	-	USD	1 Quarter
Penalty on convertible notes payable	`PenaltyOnConvertibleNotesPayable`	$3.30K	USD	1 Quarter
Penalty on convertible notes payable	`PenaltyOnConvertibleNotesPayable`	$8.00K	USD	1 Quarter
(Increase) decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-633.00	USD	1 Quarter
(Increase) decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$5.00K	USD	1 Quarter
(Increase) decrease in accounts receivable - related party	`IncreaseDecreaseInAccountsReceivableRelatedParties`	-	USD	1 Quarter
(Increase) decrease in accounts receivable - related party	`IncreaseDecreaseInAccountsReceivableRelatedParties`	$-296.27K	USD	1 Quarter
(Increase) decrease in Prepaid expense	`IncreaseDecreaseInPrepaidExpense`	$1.00K	USD	1 Quarter
(Increase) decrease in Prepaid expense	`IncreaseDecreaseInPrepaidExpense`	-	USD	1 Quarter
(Decrease) increase in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$4.38K	USD	1 Quarter
(Decrease) increase in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$19.78K	USD	1 Quarter
(Decrease) increase in accounts payable - related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	$43.28K	USD	1 Quarter
(Decrease) increase in accounts payable - related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	$7.33K	USD	1 Quarter
(Decrease) increase in accrued interest	`IncreaseDecreaseInAccruedLiabilities`	$4.49K	USD	1 Quarter
(Decrease) increase in accrued interest	`IncreaseDecreaseInAccruedLiabilities`	-	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-20.94K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$234.25K	USD	1 Quarter
Proceeds from notes payable	`ProceedsFromNotesPayable`	-	USD	1 Quarter
Proceeds from notes payable	`ProceedsFromNotesPayable`	$38.00K	USD	1 Quarter
Proceeds from settlement agreement	`ProceedsFromSettlementAgreement`	-	USD	1 Quarter
Proceeds from settlement agreement	`ProceedsFromSettlementAgreement`	-	USD	1 Quarter
Repayments on settlement payable	`RepaymentsOfShortTermDebt`	$102.42K	USD	1 Quarter
Repayments on settlement payable	`RepaymentsOfShortTermDebt`	-	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-102.42K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$38.00K	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$17.06K	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$133.83K	USD	1 Quarter
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$446.58K	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$580.41K	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$25.17K	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$42.23K	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`	$580.41K	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`	$42.23K	USD	Point-in-time
Settlement of derivative liability	`SettlementOfDerivativeLiability`	-	USD	1 Quarter
Settlement of derivative liability	`SettlementOfDerivativeLiability`	$5.31K	USD	1 Quarter
Common stock issued for conversion of debt	`ConversionOfStockAmountIssued1`	$209.41K	USD	1 Quarter
Common stock issued for conversion of debt	`ConversionOfStockAmountIssued1`	$158.91K	USD	1 Quarter
Debt discount from derivative liability	`DebtDiscountFromDerivativeLiability`	$47.00K	USD	1 Quarter
Debt discount from derivative liability	`DebtDiscountFromDerivativeLiability`	$3.30K	USD	1 Quarter
Settlement payable	`SettlementPayable`	-	USD	1 Quarter
Settlement payable	`SettlementPayable`	$448.01K	USD	1 Quarter

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