Hollywall Entertainment : Amended Financial Statements and Footnotes for the Period Ending September 30, 2021

HOLLYWALL ENTERTAIMENT, INC.

UN-AUDITED

AMENDED

FINANCIAL STATEMENTS

FOR THE PERIOD ENDING

9/30/2021

TABLE OF CONTENTS

INDEPENDENT ACCOUNTANT'S REPORT	1
BALANCE SHEET	2
INCOME STATEMENT	3
STATEMENT OF CASHFLOWS	4
STATEMENT OF RETAINED EARNINGS	5
FOOTNOTES	6

Hollywall Entertainment, Inc. and Subsidiaries

Consolidated Balance Sheets

			As of
ASSETS		9/30/2021			9/30/2020
Current Assets
Cash and Cash Equivalents	$	13,965	$	31,339
Other Current Assets		650			-
Total Current Assets		14,615			31,339
Property and Equipment, net
Vehicles, net		46,261			55,947
Total Property and Equipment, net		46,261			55,947
Other Non Current Assets
Intangibles, net		18,238,889			22,705,556
Total Other Non Current Assets		18,238,889			22,705,556
TOTAL ASSETS	$	18,299,765		$	22,792,842
LIABILITIES AND STOCKHOLDERS' EQUITY
Liabilities
Current Liabilities
Accounts Payable	$	77,180	$	58,307
Accrued Expenses		21,704			1,061,994
Convertible Notes Payable		-			3,000
Total Current Liabilities		98,884			1,123,301
TOTAL LIABILITIES		98,884			1,123,301
Commitments and Contingencies (Note 11)
STOCKHOLDERS' EQUITY
Preferred Stock, $0.001 par value, 200,000 shares
authorized, 99,391 issued and outstanding		99			99
Common Stock, $0.001 par value; 300,000,000 shares
authorized, 91,792,000 and 76,759,000 issued and
outstanding at September 30, 2021 and 2020, respectively		91,792			76,759
Common stock to be issued		1,028,170			1,795,500
Treasury Stock		(7,000)			-
Additional Paid-In Capital		65,301,153			63,330,055
Accumulated Deficit		(48,213,332)			(43,532,872)
Total Stockholders' Equity		18,200,881			21,669,541
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$	18,299,765		$	22,792,842

THE ACCOMPANYING FOOTNOTES ARE AN INTEGRAL PART OF THESE CONSOLIDATED FINANCIAL STATEMENTS

2

Hollywall Entertainment, Inc. and Subsidiaries

Consolidated Statements of Operations

		For the years ending
		9/30/2021			9/30/2020
REVENUE
Music Licensing Income	$	337,011	$	189,475
Lobbying Income		161,123			139,543
TOTAL REVENUE		498,134			329,019
OPERATING EXPENSES
Amortization Expense		3,350,000			3,350,000
Executive Management Compensation		292,759			672,304
General and Administrative Expenses		456,468			272,552
Professional Fees		164,024			72,669
Depreciation Expense		4,843			14,529
TOTAL OPERATING EXPENSES		4,268,094			4,382,054
Loss from Operations		(3,769,960)			(4,053,035)
Other Expenses
Interest Expense		-			(5,284)
		(3,769,960)			(4,058,319)
Provision for income taxes		-			-
Net Loss	$	(3,769,960)		$	(4,058,319)
Basic and diluted loss per share	$	(0.08)	$	(0.30)
Weighted average number of shares outstanding, basic and diluted		47,746,988			13,612,161

THE ACCOMPANYING FOOTNOTES ARE AN INTEGRAL PART OF THESE CONSOLIDATED FINANCIAL STATEMENTS

3

Hollywall Entertainment, Inc. and Subsidiaries

Consolidated Statement of Cash Flows

For the years ending

9/30/20219/30/2020

OPERATING ACTIVITIES
Net Loss	$	(3,769,960)	$	(4,058,319)
Adjustments to Reconcile Net Loss to Net Cash From Operating Activities:
Depreciation Expense		4,193			14,679
Amortization Expense		3,350,000			3,350,000
Changes in assets and liabilities:
Accounts Payable		19,295			6,100
Accrued Expenses		-			264,580
Net Cash Provided by Operating Activities		(396,472)			(422,960)
FINANCING ACTIVITIES
Payments on Convertible Notes Payable		-			(585,750)
Common Stock issued for cash		1,095			5,433
Common Stock to be Issued		(105,250)			(14,750)
Paid-In Capital		468,286			1,045,571
Net Cash From Financing Activities		364,131			450,504
Net Change in Cash and Cash Equivalents		(32,341)			27,544
Cash and Cash Equivalents, Beginning of Period		46,306			3,945
Cash and Cash Equivalents, End of Period	$	13,965		$	31,489
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
Cash paid for interest expense	$	-	$	-
Cash paid for taxes	$	-		$	-
NON-CASH OPERATING AND FINANCING ACTIVITIES
Common Stock issued for accrued expenses	$	-	$	-

THE ACCOMPANYING FOOTNOTES ARE AN INTEGRAL PART OF THESE CONSOLIDATED FINANCIAL STATEMENTS

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