10-Q Filing

GOLDEN MATRIX GROUP, INC. CIK: 1437925 Q1 2022

Filing Information

Form Type	10-Q
Accession Number	`0001477932-21-003910`
Period End Date	20210430
Filing Date	20210609
Fiscal Year	2022
Fiscal Period	Q1
XBRL Instance	gmgi-20210430.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 60 Income Statement 42 Cash Flow Statement 60 Stockholders Equity 19

Balance Sheet 60 line items

Line Item	Tag	Value	Unit	Period
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`	$11.71M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$11.75M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	40.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	40.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.94M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.86M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$2.07M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	23.29M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	22.74M	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$1.04M	USD	Point-in-time
Accounts receivable - related parties	`AccountsReceivableRelatedPartiesCurrent`	$1.13M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	22.74M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	23.29M	shares	Point-in-time
Accounts receivable - related parties	`AccountsReceivableRelatedPartiesCurrent`	$656.80K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$53.30K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$410.98K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$15.00M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$13.81M	USD	Point-in-time
Intangible assets	`IntangibleAssetsCurrent`	$164.47K	USD	Point-in-time
Intangible assets	`IntangibleAssetsCurrent`	-	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	-	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$164.47K	USD	Point-in-time
Total assets	`Assets`	$13.81M	USD	Point-in-time
Total assets	`Assets`	$15.16M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$78.91K	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$914.02K	USD	Point-in-time
Accounts payable - related parties	`AccountsPayableRelatedPartiesCurrent`	$316.82K	USD	Point-in-time
Accounts payable - related parties	`AccountsPayableRelatedPartiesCurrent`	$208.52K	USD	Point-in-time
Advances from shareholders	`DueToOfficersOrStockholdersCurrent`	$99.00	USD	Point-in-time
Advances from shareholders	`DueToOfficersOrStockholdersCurrent`	$101.00	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$123.00	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$123.00	USD	Point-in-time
Customer deposits	`CustomerDepositsCurrent`	$149.64K	USD	Point-in-time
Customer deposits	`CustomerDepositsCurrent`	$10.00K	USD	Point-in-time
Consideration payable - related party	`ConsiderationPayableRelatedParty`	$115.31K	USD	Point-in-time
Consideration payable - related party	`ConsiderationPayableRelatedParty`	-	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.24M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$552.61K	USD	Point-in-time
Total liabilities	`Liabilities`	$1.24M	USD	Point-in-time
Total liabilities	`Liabilities`	$552.61K	USD	Point-in-time
Common stock: $0.00001 par value, 40,000,000 shares authorized, 23,289,273 and 22,741,665 shares issued and outstanding, respectively	`CommonStockValue`	$233.00	USD	Point-in-time
Common stock: $0.00001 par value, 40,000,000 shares authorized, 23,289,273 and 22,741,665 shares issued and outstanding, respectively	`CommonStockValue`	$227.00	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$38.86M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$38.32M	USD	Point-in-time
Stock payable	`StockPayable`	$7.42K	USD	Point-in-time
Stock payable	`StockPayable`	$6.00K	USD	Point-in-time
Stock payable - related party	`StockPayableRelatedParty`	-	USD	Point-in-time
Stock payable - related party	`StockPayableRelatedParty`	$7.42K	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$209.00	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-978.00	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-24.95M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-25.07M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$3.04M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$13.92M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$13.26M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$2.47M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$15.16M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$13.81M	USD	Point-in-time

Income Statement 42 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$203.20K	USD	1 Quarter
Revenues	`Revenues`	$1.97M	USD	1 Quarter
Revenues-related party	`RevenueFromRelatedParties`	$531.57K	USD	1 Quarter
Revenues-related party	`RevenueFromRelatedParties`	$669.99K	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$31.50K	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$1.49M	USD	1 Quarter
Gross profit	`GrossProfit`	$1.15M	USD	1 Quarter
Gross profit	`GrossProfit`	$703.27K	USD	1 Quarter
General and administrative expense	`SellingGeneralAndAdministrativeExpense`	$327.71K	USD	1 Quarter
General and administrative expense	`SellingGeneralAndAdministrativeExpense`	$110.64K	USD	1 Quarter
General and administrative expense- related party	`GeneralAndAdministrativeExpense`	$562.34K	USD	1 Quarter
General and administrative expense- related party	`GeneralAndAdministrativeExpense`	$337.65K	USD	1 Quarter
Research and development expense	`ResearchAndDevelopmentExpense`	-	USD	1 Quarter
Research and development expense	`ResearchAndDevelopmentExpense`	$21.22K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$93.61K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$20.39K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$468.67K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$1.00M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$141.48K	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$234.59K	USD	1 Quarter
Interest expense	`InterestExpense`	-	USD	1 Quarter
Interest expense	`InterestExpense`	$6.15K	USD	1 Quarter
Interest earned	`InterestIncomeExpenseNet`	$1.30K	USD	1 Quarter
Interest earned	`InterestIncomeExpenseNet`	$40.00	USD	1 Quarter
Foreign exchange loss	`ForeignCurrencyTransactionLossBeforeTax`	-	USD	1 Quarter
Foreign exchange loss	`ForeignCurrencyTransactionLossBeforeTax`	$13.65K	USD	1 Quarter
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$-13.61K	USD	1 Quarter
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$-4.86K	USD	1 Quarter
Net income	`NetIncomeLoss`	$229.74K	USD	1 Quarter
Net income	`NetIncomeLoss`	$127.87K	USD	1 Quarter
Foreign currency translation adjustment	`ForeignCurrencyTransactionGainBeforeTax`	$1.19K	USD	1 Quarter
Foreign currency translation adjustment	`ForeignCurrencyTransactionGainBeforeTax`	-	USD	1 Quarter
Total comprehensive income (loss)	`OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodNetOfTax`	$129.06K	USD	1 Quarter
Total comprehensive income (loss)	`OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodNetOfTax`	$229.74K	USD	1 Quarter
Net earnings per common share - basic	`EarningsPerShareBasic`	$0.01	USD	1 Quarter
Net earnings per common share - basic	`EarningsPerShareBasic`	$0.01	USD	1 Quarter
Net earnings per common share diluted	`EarningsPerShareDiluted`	-	USD	1 Quarter
Net earnings per common share diluted	`EarningsPerShareDiluted`	$0.01	USD	1 Quarter
Weighted average number of common shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	22.94M	shares	1 Quarter
Weighted average number of common shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	18.97M	shares	1 Quarter
Weighted average number of common shares outstanding -diluted	`WeightedAverageLimitedPartnershipUnitsOutstandingDiluted`	34.94M	shares	1 Quarter
Weighted average number of common shares outstanding -diluted	`WeightedAverageLimitedPartnershipUnitsOutstandingDiluted`	28.14M	shares	1 Quarter

Cash Flow Statement 60 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$229.74K	USD	1 Quarter
Net income	`NetIncomeLoss`	$127.87K	USD	1 Quarter
Fair value of stock option issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$291.06K	USD	1 Quarter
Fair value of stock option issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$503.95K	USD	1 Quarter
Fair value of shares issued for services	`FairValueOfSharesIssuedForServices`	$22.00K	USD	1 Quarter
Fair value of shares issued for services	`FairValueOfSharesIssuedForServices`	$37.00K	USD	1 Quarter
Amortization expense	`AdjustmentForAmortization`	$9.53K	USD	1 Quarter
Amortization expense	`AdjustmentForAmortization`	-	USD	1 Quarter
Imputed interest	`InterestCostsIncurred`	$4.29K	USD	1 Quarter
Imputed interest	`InterestCostsIncurred`	-	USD	1 Quarter
(Increase) in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-203.20K	USD	1 Quarter
(Increase) in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.03M	USD	1 Quarter
(Increase) in accounts receivable - related party	`IncreaseDecreaseInAccountsReceivableRelatedParties`	$-182.06K	USD	1 Quarter
(Increase) in accounts receivable - related party	`IncreaseDecreaseInAccountsReceivableRelatedParties`	$-465.99K	USD	1 Quarter
Decrease in prepaid expense	`IncreaseDecreaseInPrepaidExpense`	$354.61K	USD	1 Quarter
Decrease in prepaid expense	`IncreaseDecreaseInPrepaidExpense`	-	USD	1 Quarter
Increase in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$5.68K	USD	1 Quarter
Increase in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$718.28K	USD	1 Quarter
Increase in accounts payable - related party	`IncreaseDecreaseInAccountsPayable`	$75.15K	USD	1 Quarter
Increase in accounts payable - related party	`IncreaseDecreaseInAccountsPayable`	$107.95K	USD	1 Quarter
(Decrease) in customer deposit	`IncreaseDecreaseInDeposits`	-	USD	1 Quarter
(Decrease) in customer deposit	`IncreaseDecreaseInDeposits`	$-139.64K	USD	1 Quarter
Increase in accrued interest	`DebtInstrumentIncreaseAccruedInterest`	$487.00	USD	1 Quarter
Increase in accrued interest	`DebtInstrumentIncreaseAccruedInterest`	-	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$213.04K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$258.14K	USD	1 Quarter
Cash paid for purchase of GTG	`CashPaidForPurchaseOfGtg`	$-115.31K	USD	1 Quarter
Cash paid for purchase of GTG	`CashPaidForPurchaseOfGtg`	-	USD	1 Quarter
Cash paid for purchase of intangible assets	`CashPaidForPurchaseOfIntangibleAssets`	-	USD	1 Quarter
Cash paid for purchase of intangible assets	`CashPaidForPurchaseOfIntangibleAssets`	$-58.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-173.31K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	1 Quarter
Repayments on promissory note - related party	`RepaymentsOfConvertibleDebt`	$174.25K	USD	1 Quarter
Repayments on promissory note - related party	`RepaymentsOfConvertibleDebt`	-	USD	1 Quarter
Proceeds from option exercise	`ProceedsFromStockOptionsExercised`	-	USD	1 Quarter
Proceeds from option exercise	`ProceedsFromStockOptionsExercised`	$4.01K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-174.25K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$4.01K	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	-	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$406.00	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$83.89K	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$44.14K	USD	1 Quarter
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$11.71M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$11.75M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$1.94M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$1.86M	USD	Point-in-time
Cash and cash equivalents at end of the quarter	`CashAndCashEquivalentsAtCarryingValue`	$11.71M	USD	Point-in-time
Cash and cash equivalents at end of the quarter	`CashAndCashEquivalentsAtCarryingValue`	$11.75M	USD	Point-in-time
Cash and cash equivalents at end of the quarter	`CashAndCashEquivalentsAtCarryingValue`	$1.94M	USD	Point-in-time
Cash and cash equivalents at end of the quarter	`CashAndCashEquivalentsAtCarryingValue`	$1.86M	USD	Point-in-time
Interest paid	`InterestPaidNet`	-	USD	1 Quarter
Interest paid	`InterestPaidNet`	-	USD	1 Quarter
Tax paid	`IncomeTaxesPaidNet`	-	USD	1 Quarter
Tax paid	`IncomeTaxesPaidNet`	-	USD	1 Quarter
Cashless exercise of options	`CashlessExerciseOfOptions`	$5.00	USD	1 Quarter
Cashless exercise of options	`CashlessExerciseOfOptions`	-	USD	1 Quarter
Share issued for services from stock payable	`ShareIssuedForServicesFromStockPayable`	-	USD	1 Quarter
Share issued for services from stock payable	`ShareIssuedForServicesFromStockPayable`	$7.42K	USD	1 Quarter
Share issued for services from stock payable - related party	`ShareIssuedForServicesFromStockPayableRelatedParty`	$7.42K	USD	1 Quarter
Share issued for services from stock payable - related party	`ShareIssuedForServicesFromStockPayableRelatedParty`	-	USD	1 Quarter

Stockholders Equity 19 line items

Line Item	Tag	Value	Unit	Period
Balance, amount	`StockholdersEquity`	$3.04M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$13.92M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$13.26M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$2.47M	USD	Point-in-time
Fair value of options/warrants issued for services	`FairValueOfOptionsWarrantsIssuedForServices`	$291.06K	USD	1 Quarter
Fair value of options/warrants issued for services	`FairValueOfOptionsWarrantsIssuedForServices`	$503.95K	USD	1 Quarter
Issuance of shares for services	`IssuanceOfSharesForServices`	$37.00K	USD	1 Quarter
Imputed interest	`ImputedInterest`	$4.29K	USD	1 Quarter
Net income	`NetIncomeLoss`	$229.74K	USD	1 Quarter
Net income	`NetIncomeLoss`	$127.87K	USD	1 Quarter
Issuance of shares due to stock payable, amount	`IssuanceOfSharesDueToStockPayableAmount`	-	USD	1 Quarter
Issuance of shares for services, amount	`StockIssuedDuringPeriodValueIssuedForServices`	$22.00K	USD	1 Quarter
Shares issued on exercise of options, amount	`SharesIssuedOnExerciseOfOptionsAmount`	$4.01K	USD	1 Quarter
Shares issued on cashless exercise of options, amount	`SharesIssuedOnCashlessExerciseOfOptionsAmount`	-	USD	1 Quarter
Cumulative translation adjustment	`CumulativeTranslationAdjustment`	$1.19K	USD	1 Quarter
Balance, amount	`StockholdersEquity`	$3.04M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$13.92M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$13.26M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$2.47M	USD	Point-in-time

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