Hollywall Entertainment : Financial Statements and Footnotes for the Period Ending March 31, 2022

HOLLYWALL ENTERTAINMENT, INC.

FINANCIAL STATEMENTS

FOR THE QUARTER

ENDING 3/31/2022

Hollywall Entertainment, Inc. and Subsidiaries

Consolidated Balance Sheets

			As of
ASSETS		3/31/2022			3/31/2021
Current Assets
Cash and Cash Equivalents	$	19,745	$	15,837
Total Current Assets		19,745			15,837
Property and Equipment, net		26,889			46,261
Intangibles, net		16,005,555			20,472,222
TOTAL ASSETS	$	16,052,188		$	20,534,320
LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities
Accounts Payable	$	45,523	$	44,480
Accrued Expenses		9,150			-
Convertible Notes Payable		305,000			-
Total Current Liabilities		359,673			44,480
TOTAL LIABILITIES		359,673			44,480
Commitments and Contingencies (Note 13)
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, 92,252,538 and 89,806,357 issued and
outstanding at March 31, 2022 and 2021, respectively		92,253			89,806
Common Stock to be Issued		1,127,168			881,357
Unearned Stock Compensation		(1,440,000)			(1,440,000)
Treasury Stock		(8,100)			(7,000)
Additional Paid-In Capital		68,546,092			67,411,648
Accumulated Deficit		(52,624,997)			(46,446,070)
Total Stockholders' Equity		15,692,515			20,489,840
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$	16,052,188		$	20,534,320

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

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Hollywall Entertainment, Inc. and Subsidiaries

Consolidated Statements of Operations

		For the quarter ending
		3/31/2022			3/31/2021
REVENUE
Music Licensing Income	$	-	$	169,211
Lobbying Income		60,000			61,102
Total Revenue		60,000			230,313
OPERATING EXPENSES
Amortization Expense		1,116,668			1,116,668
Executive Management Compensation		101,388			78,695
General and Administrative Expenses		83,039			171,481
Professional Fees		308,155			681,797
Depreciation Expense		4,843			4,843
Total Operating Expenses		1,614,092			2,053,484
Loss from Operations		(1,554,092)			(1,823,171)
Other Income/(Expenses)
Interest Expense		9,150			-
Net Other Income/(Expenses)		9,150			-
Loss Before Taxes		(1,544,942)			(1,823,171)
Provision for income taxes		-			-
Net Loss	$	(1,544,942)		$	(1,823,171)
Basic and diluted loss per share	$	(0.02)	$	(0.11)
Weighted average number of shares outstanding, basic and diluted		92,252,538			89,806,357

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

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Hollywall Entertainment, Inc. and Subsidiaries

Consolidated Statement of Cash Flows

For the years ending

3/31/2022 3/31/2021

OPERATING ACTIVITIES
Net Loss	$	(1,544,942)	$	(1,823,171)
Adjustments to Reconcile Net Loss to Net Cash From Operating Activities:
Depreciation Expense		4,843			4,843
Amortization Expense		1,116,667			1,116,667
Stock Compensation		263			10
Changes in assets and liabilities:
Accounts Payable		-			18,252
Accrued Expenses		9,150			-
Net Cash From Operating Activities		(414,019)			(683,399)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from issuance of Convertible Notes Payable		305,238			-
Payments on Convertible Notes Payable		-			(256,920)
Cancellation of shares issued for Compensation		-			911,000
Net Cash From Financing Activities		305,238			654,080
Net Change in Cash and Cash Equivalents		(108,781)			(29,319)
Cash and Cash Equivalents, Beginning of Period		128,526			45,156
Cash and Cash Equivalents, End of Period	$	19,745		$	15,837
Supplemental Disclosure of Cash Flow Information:
Cash Paid for Interest		-			-
Cash Paid for Taxes		-			-
NON-CASH OPERATING AND FINANCING ACTIVITIES
Return and cancellation of shares issued in advance, but not earned		-			911,000

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

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Hollywall Entertainment, Inc. and Subsidiaries

Consolidated Statements of Changes in Stockholders' Equity

	Preferred Stock			Common Stock			Common Stock to be Issued			Unearned Stock Compensation		Treasury Stock			Additional			Accumulated			Total
Balances as of December 31, 2020	Shares			Amount			Shares			Amount			Shares			Amount			Shares			Amount			Amount		Paid in Capital			Deficit		Stockholders' Equity
99,391		$	99				89,796,357		$	89,796			999,993		$	881,358			(1,080,000)		$	(2,351,000)		$	(7,000)		$	67,668,568		$	(44,622,900)			21,658,921
Common Stock issued for services	-			-				610,000			610			-			-			-			-			-			644,890			-			645,500
Notes Payable converted to Common Stock	-			-				-			-			-			-			-			-			-			8,591			-			8,591
Return and cancellation of shares issued in advance, but not earned	-			-				(600,000)			(600)			-			-			600,000			911,000			-			(910,400)			-			-
Net Loss	-			-				-			-			-			-			-			-			-			-			(1,823,171)			(1,823,171)
Balances as of March 31, 2021	99,391		$	99				89,806,357		$	89,806			999,993		$	881,358			(480,000)		$	(1,440,000)		$	(7,000)		$	67,411,649		$	(46,446,071)		$	20,489,840
Balances as of December 31, 2021	99,391	$	99				91,991,000	$	91,991			999,993	$	1,127,168			(480,000)	$	(1,440,000)	$	(8,100)	$	68,240,854	$	(51,080,055)			16,931,957
Common Stock issued for services	-			-				261,538			262			-			-			-			-			-			305,238			-			305,500
Net Loss	-			-				-			-			-			-			-			-			-			-			(1,544,942)			(1,544,942)
Balances as of March 31, 2022	198,782		$	99		$	92,252,538	$	92,253	$	999,993	$	1,127,168	$	(480,000)	$	(1,440,000)	$	(8,100)	$	68,546,092	$	(52,624,997)	$	15,692,515

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

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