10-Q Filing

GOLDEN MATRIX GROUP, INC. CIK: 1437925 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0001477932-19-006954`
Period End Date	20191031
Filing Date	20191205
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	gmgi-20191031.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 74 Income Statement 42 Cash Flow Statement 59 Stockholders Equity 26

Balance Sheet 74 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`Cash`	$1.73M	USD	Point-in-time
Cash and cash equivalents	`Cash`	$2.31M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$264.56K	USD	Point-in-time
Common stock, shares par value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Common stock, shares par value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$482.83K	USD	Point-in-time
Common stock, shares par value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	6.00B	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	6.00B	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	6.00B	shares	Point-in-time
Accounts receivable - related parties	`AccountsReceivableRelatedParties`	$587.47K	USD	Point-in-time
Accounts receivable - related parties	`AccountsReceivableRelatedParties`	$1.01M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	2.85B	shares	Point-in-time
Total current assets	`AssetsCurrent`	$3.01M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	2.85B	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	-	shares	Point-in-time
Total current assets	`AssetsCurrent`	$3.38M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	2.62B	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	2.85B	shares	Point-in-time
Total assets	`Assets`	$3.01M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	2.62B	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	2.85B	shares	Point-in-time
Total assets	`Assets`	$3.38M	USD	Point-in-time
Preferred stock, shares par value	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$34.19K	USD	Point-in-time
Preferred stock, shares par value	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Preferred stock, shares par value	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$41.10K	USD	Point-in-time
Preferred stock, shares par value	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Preferred stock, shares par value	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Preferred stock, shares par value	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	-	shares	Point-in-time
Accounts payable - related parties	`AccountsPayableRelatedPartiesCurrent`	$589.65K	USD	Point-in-time
Accounts payable - related parties	`AccountsPayableRelatedPartiesCurrent`	$526.54K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	20.00M	shares	Point-in-time
Advances from shareholders	`DueToOfficersOrStockholdersCurrent`	$1.00K	USD	Point-in-time
Advances from shareholders	`DueToOfficersOrStockholdersCurrent`	$1.00K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Accrued interest	`DepositLiabilitiesAccruedInterest`	$36.52K	USD	Point-in-time
Accrued interest	`DepositLiabilitiesAccruedInterest`	$24.51K	USD	Point-in-time
Settlement payable - related party	`SettlementLiabilitiesCurrent`	-	USD	Point-in-time
Settlement payable - related party	`SettlementLiabilitiesCurrent`	$290.00K	USD	Point-in-time
Settlement payable - related party	`SettlementLiabilitiesCurrent`	$145.00K	USD	Point-in-time
Convertible notes payable, net of discounts	`OtherNotesPayableCurrent`	$30.00K	USD	Point-in-time
Convertible notes payable, net of discounts	`OtherNotesPayableCurrent`	$30.00K	USD	Point-in-time
Convertible notes payable, net- in default	`DebtDefaultShorttermDebtAmount`	$10.00K	USD	Point-in-time
Convertible notes payable, net- in default	`DebtDefaultShorttermDebtAmount`	$10.00K	USD	Point-in-time
Promissory note-related party	`NotesPayableRelatedPartiesClassifiedCurrent`	$1.03M	USD	Point-in-time
Promissory note-related party	`NotesPayableRelatedPartiesClassifiedCurrent`	$636.75K	USD	Point-in-time
Derivative liabilities - note conversion feature	`DerivativeLiabilitiesCurrent`	$15.00K	USD	Point-in-time
Derivative liabilities - note conversion feature	`DerivativeLiabilitiesCurrent`	$10.83K	USD	Point-in-time
Total current Liabilities	`LiabilitiesCurrent`	$1.83M	USD	Point-in-time
Total current Liabilities	`LiabilitiesCurrent`	$1.64M	USD	Point-in-time
Settlement payable - related party - long-term	`LongTermNotesPayable`	-	USD	Point-in-time
Settlement payable - related party - long-term	`LongTermNotesPayable`	$145.00K	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`	$1.97M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.64M	USD	Point-in-time
Common stock: $0.00001 par value, 6,000,000,000 shares authorized, 2,845,318,757 and 2,845,318,757 shares issued and outstanding, respectively	`CommonStockValue`	$28.45K	USD	Point-in-time
Common stock: $0.00001 par value, 6,000,000,000 shares authorized, 2,845,318,757 and 2,845,318,757 shares issued and outstanding, respectively	`CommonStockValue`	$28.45K	USD	Point-in-time
Common stock: $0.00001 par value, 6,000,000,000 shares authorized, 2,845,318,757 and 2,845,318,757 shares issued and outstanding, respectively	`CommonStockValue`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$27.60M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$27.44M	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`	$-26.44M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-25.89M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$1.74M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$-665.61K	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$1.03M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$-1.34M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$3.38M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$3.01M	USD	Point-in-time

Income Statement 42 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$362.28K	USD	1 Quarter
Revenues	`Revenues`	$633.00	USD	1 Quarter
Revenues-related party	`RevenueFromRelatedParties`	$638.06K	USD	1 Quarter
Revenues-related party	`RevenueFromRelatedParties`	$519.57K	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$-69.52K	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$-32.19K	USD	1 Quarter
Gross profit	`GrossProfit`	$849.65K	USD	1 Quarter
Gross profit	`GrossProfit`	$569.17K	USD	1 Quarter
G&A expense	`CostsAndExpenses`	$78.93K	USD	1 Quarter
G&A expense	`CostsAndExpenses`	$128.33K	USD	1 Quarter
G&A expense- related party	`CostsAndExpensesRelatedParty`	$39.30K	USD	1 Quarter
G&A expense- related party	`CostsAndExpensesRelatedParty`	$33.00K	USD	1 Quarter
Compensation expense - Acquisition cost - related party	`DeferredCompensationArrangementWithIndividualAllocatedShareBasedCompensationExpense`	-	USD	1 Quarter
Compensation expense - Acquisition cost - related party	`DeferredCompensationArrangementWithIndividualAllocatedShareBasedCompensationExpense`	$16.12K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$18.82K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$20.83K	USD	1 Quarter
Amortization expenses	`AmortizationOfFinancingCosts`	$57.35K	USD	1 Quarter
Amortization expenses	`AmortizationOfFinancingCosts`	$120.68K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$212.53K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$300.83K	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$356.64K	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$548.83K	USD	1 Quarter
Interest expense	`InterestExpense`	$-16.39K	USD	1 Quarter
Interest expense	`InterestExpense`	$-7.79K	USD	1 Quarter
Interest earned	`InterestIncomeExpenseNet`	$9.29K	USD	1 Quarter
Interest earned	`InterestIncomeExpenseNet`	-	USD	1 Quarter
Gain (Loss) on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-106.00	USD	1 Quarter
Gain (Loss) on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Gain (Loss) on derivative liability	`DerivativeGainLossOnDerivativeNet`	$4.17K	USD	1 Quarter
Gain (Loss) on derivative liability	`DerivativeGainLossOnDerivativeNet`	$-16.75K	USD	1 Quarter
Total other income (expense)	`OtherNonoperatingExpense`	$-2.94K	USD	1 Quarter
Total other income (expense)	`OtherNonoperatingExpense`	$-24.64K	USD	1 Quarter
Net income (Loss)	`NetIncomeLoss`	$332.00K	USD	1 Quarter
Net income (Loss)	`NetIncomeLoss`	$545.89K	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`	2.74B	shares	1 Quarter
Weighted average number of common shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	2.85B	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`	4.20B	shares	1 Quarter

Cash Flow Statement 59 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$332.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$545.89K	USD	1 Quarter
Unrealized loss (gain) on derivative liabilities-note conversion feature	`UnrealizedGainLossOnDerivatives`	$16.75K	USD	1 Quarter
Unrealized loss (gain) on derivative liabilities-note conversion feature	`UnrealizedGainLossOnDerivatives`	$-4.17K	USD	1 Quarter
Fair value of stock option issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$126.87K	USD	1 Quarter
Fair value of stock option issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$32.19K	USD	1 Quarter
Fair value of shares issued for services	`StockIssuedDuringPeriodValueShareBasedCompensation`	$2.10K	USD	1 Quarter
Fair value of shares issued for services	`StockIssuedDuringPeriodValueShareBasedCompensation`	-	USD	Point-in-time
Fair value of shares issued for services	`StockIssuedDuringPeriodValueShareBasedCompensation`	-	USD	1 Quarter
Amortization expense	`OtherDepreciationAndAmortization`	$3.30K	USD	1 Quarter
Amortization expense	`OtherDepreciationAndAmortization`	$120.68K	USD	1 Quarter
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebtBeforeWriteOffOfDeferredDebtIssuanceCost`	$106.00	USD	1 Quarter
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebtBeforeWriteOffOfDeferredDebtIssuanceCost`	-	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
Imputed Interest	`DefinedBenefitPlanInterestCost`	$4.39K	USD	1 Quarter
Imputed Interest	`DefinedBenefitPlanInterestCost`	-	USD	1 Quarter
Penalty on convertible notes payable	`ProceedsFromLinesOfCredit`	-	USD	1 Quarter
Penalty on convertible notes payable	`ProceedsFromLinesOfCredit`	$3.30K	USD	1 Quarter
Penalty on promissory note - related party	`OriginationOfNotesReceivableFromRelatedParties`	$1.50K	USD	1 Quarter
Penalty on promissory note - related party	`OriginationOfNotesReceivableFromRelatedParties`	-	USD	1 Quarter
(Increase) decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-218.28K	USD	1 Quarter
(Increase) decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-633.00	USD	1 Quarter
(Increase) decrease in accounts receivable - related party	`IncreaseDecreaseInAccountsReceivableRelatedParties`	$-296.27K	USD	1 Quarter
(Increase) decrease in accounts receivable - related party	`IncreaseDecreaseInAccountsReceivableRelatedParties`	$421.93K	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`	$19.78K	USD	1 Quarter
(Decrease) increase in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-6.91K	USD	1 Quarter
(Decrease) increase in accounts payable - related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	$63.11K	USD	1 Quarter
(Decrease) increase in accounts payable - related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	$7.33K	USD	1 Quarter
(Decrease) increase in accrued interest	`DebtInstrumentIncreaseAccruedInterest`	$12.01K	USD	1 Quarter
(Decrease) increase in accrued interest	`DebtInstrumentIncreaseAccruedInterest`	$4.49K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$972.34K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$234.25K	USD	1 Quarter
Repayments on settlement payable	`RepaymentsOfShortTermDebt`	$-102.42K	USD	1 Quarter
Repayments on settlement payable	`RepaymentsOfShortTermDebt`	-	USD	1 Quarter
Repayments on promissory note	`ProceedsFromRepaymentsOfNotesPayable`	$-398.31K	USD	1 Quarter
Repayments on promissory note	`ProceedsFromRepaymentsOfNotesPayable`	-	USD	1 Quarter
Net cash (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-102.42K	USD	1 Quarter
Net cash (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-398.31K	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$574.02K	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`	$1.73M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$2.31M	USD	Point-in-time
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 end of year	`CashAndCashEquivalentsAtCarryingValue`	$1.73M	USD	Point-in-time
Cash and cash equivalents at end of year	`CashAndCashEquivalentsAtCarryingValue`	$2.31M	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
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	`CommonStockIssuedForConversionOfDebt`	$209.41K	USD	1 Quarter
Common stock issued for conversion of debt	`CommonStockIssuedForConversionOfDebt`	-	USD	1 Quarter
Debt discount from derivative liability	`DebtDiscountFromDerivativeLiability`	-	USD	1 Quarter
Debt discount from derivative liability	`DebtDiscountFromDerivativeLiability`	$3.30K	USD	1 Quarter
Settlement payable	`SettlementPayable`	$448.01K	USD	1 Quarter
Settlement payable	`SettlementPayable`	-	USD	1 Quarter

Stockholders Equity 26 line items

Line Item	Tag	Value	Unit	Period
Balance, shares	`SharesIssued`	-	shares	Point-in-time
Balance, shares	`SharesIssued`	-	shares	Point-in-time
Balance, shares	`SharesIssued`	-	shares	Point-in-time
Balance, shares	`SharesIssued`	-	shares	Point-in-time
Balance, Amount	`StockholdersEquity`	$1.74M	USD	Point-in-time
Balance, Amount	`StockholdersEquity`	$-665.61K	USD	Point-in-time
Balance, Amount	`StockholdersEquity`	$1.03M	USD	Point-in-time
Balance, Amount	`StockholdersEquity`	$-1.34M	USD	Point-in-time
Net Income (Loss)	`NetIncomeLoss`	$332.00K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$545.89K	USD	1 Quarter
Issuance of shares for convertible notes conversion-related party, Shares	`IssuanceOfSharesForConvertibleNotesConversionRelatedPartyShares`	-	shares	1 Quarter
Imputed interest	`ImputedInterest`	$4.39K	USD	1 Quarter
Fair value of options/warrants issued for services	`FairValueOfOptionsWarrantsIssuedForServices`	$152.87K	USD	1 Quarter
Fair value of options/warrants issued for services	`FairValueOfOptionsWarrantsIssuedForServices`	$126.87K	USD	1 Quarter
Issuance of shares for convertible notes conversion-related party, Amount	`IssuanceOfSharesForConvertibleNotesConversionRelatedPartyAmount`	$209.41K	USD	1 Quarter
Issuance of shares for services, Shares	`IssuanceOfSharesForServicesShares`	-	shares	1 Quarter
Issuance of shares for settlement of convertible note - related party	`IssuanceOfSharesForSettlementOfConvertibleNoteRelatedParty`	$5.31K	USD	1 Quarter
Issuance of shares for services, Amount	`IssuanceOfSharesForServicesAmount`	$2.10K	USD	1 Quarter
Balance, shares	`SharesIssued`	-	shares	Point-in-time
Balance, shares	`SharesIssued`	-	shares	Point-in-time
Balance, shares	`SharesIssued`	-	shares	Point-in-time
Balance, shares	`SharesIssued`	-	shares	Point-in-time
Balance, Amount	`StockholdersEquity`	$1.74M	USD	Point-in-time
Balance, Amount	`StockholdersEquity`	$-665.61K	USD	Point-in-time
Balance, Amount	`StockholdersEquity`	$1.03M	USD	Point-in-time
Balance, Amount	`StockholdersEquity`	$-1.34M	USD	Point-in-time

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