HOLLYWALL ENTERTAIMENT, INC.
UN-AUDITED
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 | - | 1,040,289 | |||
Convertible Notes Payable | - | 3,000 | |||
Total Current Liabilities | 77,180 | 1,101,596 | |||
TOTAL LIABILITIES | 77,180 | 1,101,596 | |||
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, 92,511,000 and 76,758,000 issued and | |||||
outstanding at September 30, 2021 and 2020, respectively | 92,511 | 76,758 | |||
Common stock to be issued | 1,132,214 | 1,794,400 | |||
Treasury Stock | (7,000) | - | |||
Additional Paid-In Capital | 64,878,049 | 63,300,316 | |||
Accumulated Deficit | (47,873,287) | (43,480,327) | |||
Total Stockholders' Equity | 18,222,585 | 21,691,246 | |||
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 | 168,968 | 272,552 | |||
Professional Fees | 164,024 | 72,669 | |||
Depreciation Expense | 4,843 | 14,529 | |||
TOTAL OPERATING EXPENSES | 3,980,594 | 4,382,054 | |||
Loss from Operations | (3,482,460) | (4,053,035) | |||
Other Expenses | |||||
Interest Expense | - | (5,284) | |||
(3,482,460) | (4,058,319) | ||||
Provision for income taxes | - | - | |||
Net Loss | $ | (3,482,460) | $ | (4,058,319) | |
Basic and diluted loss per share | $ | (0.07) | $ | (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 | $ | (3,482,460) | $ | (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 | (108,972) | (422,960) | |||
FINANCING ACTIVITIES | |||||
Payments on Convertible Notes Payable | - | (585,750) | |||
Common Stock issued for cash | 1,815 | 5,433 | |||
Common Stock to be Issued | (105) | (14,750) | |||
Paid-In Capital | 74,921 | 1,045,571 | |||
Net Cash From Financing Activities | 76,631 | 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 | 4 |
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Hollywall Entertainment Inc. published this content on 19 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 November 2021 15:13:04 UTC.