10-Q Filing

GOLDEN MATRIX GROUP, INC. CIK: 1437925 Q1 2021

Filing Information

Form Type	10-Q
Accession Number	`0001477932-20-003336`
Period End Date	20200430
Filing Date	20200612
Fiscal Year	2021
Fiscal Period	Q1
XBRL Instance	gmgi-20200430.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 62 Income Statement 40 Cash Flow Statement 44 Stockholders Equity 17

Balance Sheet 62 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.12M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.94M	USD	Point-in-time
Common stock, shares par value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Common stock, shares par value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.43M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.86M	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
Accounts receivable, net	`AccountsReceivableNetCurrent`	$791.34K	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$994.54K	USD	Point-in-time
Accounts receivable - related parties, net	`AccountsReceivableRelatedPartiesCurrent`	$1.24M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	2.85B	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	2.85B	shares	Point-in-time
Accounts receivable - related parties, net	`AccountsReceivableRelatedPartiesCurrent`	$1.06M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$4.18M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$3.71M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	2.85B	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	2.85B	shares	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 par value	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Total assets	`Assets`	$3.71M	USD	Point-in-time
Total assets	`Assets`	$4.18M	USD	Point-in-time
Preferred stock, shares par value	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	20.00M	shares	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$31.31K	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$25.62K	USD	Point-in-time
Accounts payable - related parties	`AccountsPayableRelatedPartiesCurrent`	$735.83K	USD	Point-in-time
Accounts payable - related parties	`AccountsPayableRelatedPartiesCurrent`	$660.68K	USD	Point-in-time
Advances from shareholders	`DueToOfficersOrStockholdersCurrent`	$1.00K	USD	Point-in-time
Advances from shareholders	`DueToOfficersOrStockholdersCurrent`	$1.00K	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$42.45K	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$41.96K	USD	Point-in-time
Settlement payable - related party	`SettlementLiabilitiesCurrent`	$290.00K	USD	Point-in-time
Settlement payable - related party	`SettlementLiabilitiesCurrent`	$290.00K	USD	Point-in-time
Convertible notes payable, net of discounts	`ConvertibleNotesPayableCurrent`	$30.00K	USD	Point-in-time
Convertible notes payable, net of discounts	`ConvertibleNotesPayableCurrent`	$30.00K	USD	Point-in-time
Convertible notes payable, net- in default	`ConvertibleLongTermNotesPayable`	$10.00K	USD	Point-in-time
Convertible notes payable, net- in default	`ConvertibleLongTermNotesPayable`	$10.00K	USD	Point-in-time
Promissory note - related party	`CommercialPaper`	$174.25K	USD	Point-in-time
Promissory note - related party	`CommercialPaper`	-	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.14M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.23M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.14M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.23M	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
Additional paid-in capital	`AdditionalPaidInCapital`	$28.21M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$27.92M	USD	Point-in-time
Stock payable	`StockPayable`	-	USD	Point-in-time
Stock payable	`StockPayable`	$37.00K	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`	$-25.47M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-25.24M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$2.47M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$-118.01K	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$3.04M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$-585.82K	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$4.18M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$3.71M	USD	Point-in-time

Income Statement 40 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$162.77K	USD	1 Quarter
Revenues	`Revenues`	$203.20K	USD	1 Quarter
Revenues-related party	`RevenueFromRelatedParties`	$574.40K	USD	1 Quarter
Revenues-related party	`RevenueFromRelatedParties`	$531.57K	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$31.50K	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$214.85K	USD	1 Quarter
Gross profit	`GrossProfit`	$703.27K	USD	1 Quarter
Gross profit	`GrossProfit`	$522.32K	USD	1 Quarter
G&A expense	`CostsAndExpenses`	$110.64K	USD	1 Quarter
G&A expense	`CostsAndExpenses`	$105.41K	USD	1 Quarter
G&A expense- related party	`CostsAndExpensesRelatedParty`	$78.09K	USD	1 Quarter
G&A expense- related party	`CostsAndExpensesRelatedParty`	$53.92K	USD	1 Quarter
Compensation expense - acquisition cost - related party	`DeferredCompensationArrangementWithIndividualAllocatedShareBasedCompensationExpense`	-	USD	1 Quarter
Compensation expense - acquisition cost - related party	`DeferredCompensationArrangementWithIndividualAllocatedShareBasedCompensationExpense`	$6.79K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$20.39K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$7.98K	USD	1 Quarter
Amortization expenses	`AmortizationOfFinancingCosts`	$54.98K	USD	1 Quarter
Amortization expenses	`AmortizationOfFinancingCosts`	$259.56K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$229.08K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$468.67K	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$234.59K	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$293.24K	USD	1 Quarter
Interest expense	`InterestExpense`	$17.17K	USD	1 Quarter
Interest expense	`InterestExpense`	$6.15K	USD	1 Quarter
Interest earned	`InterestIncomeExpenseNet`	$1.30K	USD	1 Quarter
Interest earned	`InterestIncomeExpenseNet`	$2.35K	USD	1 Quarter
Gain on derivative liability	`DerivativeGainLossOnDerivativeNet`	$909.00	USD	1 Quarter
Gain on derivative liability	`DerivativeGainLossOnDerivativeNet`	-	USD	1 Quarter
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$-13.91K	USD	1 Quarter
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$-4.86K	USD	1 Quarter
Net income	`NetIncomeLoss`	$279.32K	USD	1 Quarter
Net income	`NetIncomeLoss`	$229.74K	USD	1 Quarter
Net earnings per common share - basic	`EarningsPerShareBasic`	-	USD	1 Quarter
Net earnings per common share - basic	`EarningsPerShareBasic`	-	USD	1 Quarter
Net earnings per common share diluted	`EarningsPerShareDiluted`	-	USD	1 Quarter
Net earnings per common share diluted	`EarningsPerShareDiluted`	-	USD	1 Quarter
Weighted average number of common shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	2.84B	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`	4.22B	shares	1 Quarter
Weighted average number of common shares outstanding - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	2.85B	shares	1 Quarter

Cash Flow Statement 44 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$279.32K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$229.74K	USD	1 Quarter
Unrealized loss (gain) on derivative liabilities-note conversion feature	`UnrealizedGainLossOnDerivatives`	$-909.00	USD	1 Quarter
Unrealized loss (gain) on derivative liabilities-note conversion feature	`UnrealizedGainLossOnDerivatives`	-	USD	1 Quarter
Fair value of stock option issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$31.50K	USD	1 Quarter
Fair value of stock option issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$214.85K	USD	1 Quarter
Fair value of shares issued for services	`StockIssuedDuringPeriodValueShareBasedCompensation`	$28.00K	USD	1 Quarter
Fair value of shares issued for services	`StockIssuedDuringPeriodValueShareBasedCompensation`	$37.00K	USD	1 Quarter
Amortization expense	`OtherDepreciationAndAmortization`	$259.56K	USD	1 Quarter
Amortization expense	`OtherDepreciationAndAmortization`	$54.98K	USD	1 Quarter
Fair value loss on contingent liability-related party	`LossOnExtinguishmentOfContingentLiabilityRelatedParty`	-	USD	1 Quarter
Fair value loss on contingent liability-related party	`LossOnExtinguishmentOfContingentLiabilityRelatedParty`	$6.79K	USD	1 Quarter
Imputed interest	`DefinedBenefitPlanInterestCost`	$4.29K	USD	1 Quarter
Imputed interest	`DefinedBenefitPlanInterestCost`	$12.05K	USD	1 Quarter
(Increase) decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-154.62K	USD	1 Quarter
(Increase) decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-203.20K	USD	1 Quarter
(Increase) decrease in accounts receivable - related party	`IncreaseDecreaseInAccountsReceivableRelatedParties`	$-182.06K	USD	1 Quarter
(Increase) decrease in accounts receivable - related party	`IncreaseDecreaseInAccountsReceivableRelatedParties`	$-209.19K	USD	1 Quarter
(Decrease) increase in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$19.12K	USD	1 Quarter
(Decrease) increase in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$5.68K	USD	1 Quarter
(Decrease) increase in accounts payable - related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	$51.49K	USD	1 Quarter
(Decrease) increase in accounts payable - related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	$75.15K	USD	1 Quarter
(Decrease) increase in accrued interest	`DebtInstrumentIncreaseAccruedInterest`	$5.11K	USD	1 Quarter
(Decrease) increase in accrued interest	`DebtInstrumentIncreaseAccruedInterest`	$487.00	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$258.14K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$307.00K	USD	1 Quarter
Repayments on promissory note - related party	`ProceedsFromSecuredNotesPayable`	-	USD	1 Quarter
Repayments on promissory note - related party	`ProceedsFromSecuredNotesPayable`	$-174.25K	USD	1 Quarter
Net cash provided (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-174.25K	USD	1 Quarter
Net cash provided (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$83.89K	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$307.00K	USD	1 Quarter
Cash and cash equivalents at beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$1.12M	USD	Point-in-time
Cash and cash equivalents at beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$1.94M	USD	Point-in-time
Cash and cash equivalents at beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$1.43M	USD	Point-in-time
Cash and cash equivalents at beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$1.86M	USD	Point-in-time
Cash and cash equivalents at end of year	`CashAndCashEquivalentsAtCarryingValue`	$1.12M	USD	Point-in-time
Cash and cash equivalents at end of year	`CashAndCashEquivalentsAtCarryingValue`	$1.94M	USD	Point-in-time
Cash and cash equivalents at end of year	`CashAndCashEquivalentsAtCarryingValue`	$1.43M	USD	Point-in-time
Cash and cash equivalents at end of year	`CashAndCashEquivalentsAtCarryingValue`	$1.86M	USD	Point-in-time
Extinguishment of contingent liability - related party	`ExtinguishmentOfContingentLiabilityRelatedParty`	$1.03M	USD	1 Quarter
Extinguishment of contingent liability - related party	`ExtinguishmentOfContingentLiabilityRelatedParty`	-	USD	1 Quarter
Gain on extinguishment of contingent liability - related party	`GainOnExtinguishmentOfContingentLiabilityRelatedParty`	-	USD	1 Quarter
Gain on extinguishment of contingent liability - related party	`GainOnExtinguishmentOfContingentLiabilityRelatedParty`	$114.62K	USD	1 Quarter

Stockholders Equity 17 line items

Line Item	Tag	Value	Unit	Period
Balance, amount	`StockholdersEquity`	$2.47M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-118.01K	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$3.04M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-585.82K	USD	Point-in-time
Issuance of shares for services, amount	`StockIssuedDuringPeriodValueIssuedForServices`	$28.00K	USD	1 Quarter
Fair value of options/warrants issued for services	`FairValueOfOptionsWarrantsIssuedForServices`	$291.06K	USD	1 Quarter
Fair value of options/warrants issued for services	`FairValueOfOptionsWarrantsIssuedForServices`	$269.83K	USD	1 Quarter
Gain on extinguishment of contingent liability - related party	`GainsLossesOnExtinguishmentOfDebt`	$114.62K	USD	1 Quarter
Imputed interest	`ImputedInterest`	$4.29K	USD	1 Quarter
Imputed interest	`ImputedInterest`	$12.05K	USD	1 Quarter
Net income	`NetIncomeLoss`	$279.32K	USD	1 Quarter
Net income	`NetIncomeLoss`	$229.74K	USD	1 Quarter
Fair value of shares issued for services	`FairValueOfSharesIssuedForServices`	$37.00K	USD	1 Quarter
Balance, amount	`StockholdersEquity`	$2.47M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-118.01K	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$3.04M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-585.82K	USD	Point-in-time

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