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.