Sycamore Entertainment : Quarterly report ended June 30 2022

Sycamore Entertainment

Group Inc.

Financial Statements

June 30, 2022

SYCAMORE ENTERTAINMENT GROUP, INC.

FINANCIAL STATEMENTS AND FOOTNOTES

(unaudited)

For the Six Months Ended

June 30, 2022 and June 30, 2021

SYCAMORE ENTERTAINMENT GROUP, INC.

FINANCIAL STATEMENTS AND FOOTNOTES

(unaudited)

	For the Three and Six Months Ended
	30-Jun-22
	TABLE OF CONTENTS
Balance Sheet	F-1
Statement of Operations	F-2
Statement of Stockholders' Equity	F-3
Statement of Cash Flows	F-4
Notes to Financial Statements	F-5

SYCAMORE ENTERTAINMENT GROUP, INC.
BALANCE SHEET
(UNAUDITED)		June 30,		December 31,
ASSETS		2022			2021
Current assets
Restricted cash	$	30,000	$	30,000
Prepaid assets		5,000			-
Total current assets		35,000			30,000
Intangible assets - net		616,620			408,433
Total assets	$	651,620		$	438,433
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities
Accounts payable and accrued expenses	$	5,107,272	$	6,648,948
Due to investors		6,557,500			6,697,914
Current portion of long-term notes payable		139,000			168,642
Derivative liability on convertible notes		-			8,353,232
Total current liabilities		11,803,772			21,868,736
Other liabilities
Long-term notes payable, related parties		661,020			394,824
Total other liabilities		661,020			394,824
Total liabilities		12,464,792			22,263,560
Stockholders' equity
Common stock (Par value $0.001, 5,100,000,000 shares
authorized; 5,070,000,000 and 2,462,630,816 issued and
outstanding as of June 30, 2022 and December 31, 2021;
Preferred Stock, par value $.001, 1 share authorized and
issued as of June 30, 2022 and December 31, 2021)		5,070,000			2,462,631
Additional paid-in captial		10,624,016			2,311,654
Accumulated deficit		(27,507,188)			(26,599,412)
Total stockholders' equity		(11,813,172)			(21,825,127)
Total liabilities and stockholders' equity	$	651,620		$	438,433
See accompanying notes to consolidated financial statements
F-1

SYCAMORE ENTERTAINMENT GROUP, INC.

STATEMENTS OF OPERATIONS

(UNAUDITED)

		For the Three Months Ended			For the Six Months Ended	June
		June 30,					30,
		2022			2021			2022			2021
Revenues
Advertising revenue	$	3	$	-	$	3	$		-
Total revenues		3			-			3				-
Cost of sales
Cost of services		862,000			849			2,688,000				10,935
Total cost of sales		862,000			849			2,688,000				10,935
Gross loss		(861,997)			(849)			(2,687,997)				(10,935)
Operating expenses
Sales and marketing		27,179			2,613			27,179			3,902,613
General and administrative		588,062			121,466			619,114				193,415
Total operating expenses		615,241			124,079			646,293			4,096,028
Operating loss		(1,477,238)			(124,928)			(3,334,290)			(4,106,963)
Other income (expense)
Merchandise sales		-			-			-				1,477
Gain/(loss) on derivative liability		7,648,984			549,574,170			8,353,232			230,456,170
Loss on extinguishment of debt		(5,978,047)			-			(5,978,047)				-
Gain on note retirement		71,783			-			71,783				-
Interest expense		(9,745)			(491,754)			(20,454)				(499,042)
Total other income (expense)		1,732,975			549,082,416			2,426,514			229,958,605
Income (loss) before provision for income taxes		255,737			548,957,488			(907,776)			225,851,642
Benefit from income taxes		-			-			-				-
Net income (loss)	$	255,737	$	548,957,488	$	(907,776)	$	225,851,642
Net loss per share of common stock:
Basic	$	0.00		$	0.28		$	0.00		$		0.12
Fully diluted
$	0.00		$	0.04		$	(0.00)		$		0.02
Weighted average number of shares outstanding
Basic		5,070,000,000			1,957,417,066		5,070,000,000			1,957,417,066
Fully diluted
	5,070,000,000		13,587,251,250		5,682,630,000		13,587,251,250

See accompanying notes to consolidated financial statements

F-2