WRIT Media : Amended Financial Statement with signature

WRIT Media Group, Inc.

Index to consolidated financial statements

(Unaudited)

	Page
Consolidated Balance Sheets	2
Consolidated Statements of Operations and Comprehensive Loss	3
Consolidated Statements of Stockholders' Equity (Deficit)	4
Consolidated Statements of Cash Flows	5
Notes to the Consolidated Financial Statements	6-14

WRIT Media Group, Inc.

Consolidated Balance Sheets

(Unaudited)

		March 31,			March 31,
		2022			2021
Assets
Current Assets:
Cash and cash equivalents	$	660	$	1,796
Total current assets		660			1,796
Noncurrent Assets:
Property and equipment, net		1,471			1,859
Intangible assets, net		-			219,880
Unproved oil and gas properties, Full cost		5,550,000			5,550,000
Total noncurrent assets		5,551,471			5,771,739
Total Assets	$	5,552,131	$	5,773,535
Liabilities and Stockholders' Deficit
Current Liabilities:
Accounts payable		164,029			50,276
Accrued liabilities		392,213			325,698
Convertible debts, net		420,265			496,487
Notes payable		192,825			206,365
Notes payable - related party		200,000			114,335
Due to related party		83,136			44,192
Accrued interest		343,340			244,713
Accrued settlement		252,770			252,770
Series C convertible preferred stock, $.00001 par, 20,000,000 shares authorized, 1,000,000		5,750,000			5,750,000
issued and outstanding
Series C accrued dividends		3,194,203			2,547,328
Total current liabilities		10,992,781			10,032,164
Total Liabilities		10,992,781			10,032,164
Stockholders' Deficit:
Preferred Stock:
Series A convertible preferred stock, $.00001 par, 130,000,000 shares authorized and 2,290		-			-
shares issued and outstanding, respectively
Series B convertible preferred stock, $.00001 par, 70,000,000 shares authorized none issued		-			-
and outstanding
Common stock, $.00001 par, 20,000,000,000 shares authorized and 63,305,977 and
60,345,356 shares issued and outstanding, respectively		755			636
Additional paid-in capital		9,670,390			9,446,699
Accumulated deficit		(15,111,795)			(13,705,964)
Total Stockholders' Deficit		(5,440,650)			(4,258,629)
Total Liabilities and Stockholders' Deficit	$	5,552,131		$	5,773,535

See accompanying notes to the unaudited financial statements.

WRIT Media Group, Inc.

Consolidated Statements of Operations

(Unaudited)

		Year Ended			Year Ended
	March 31, 2022			March 31, 2021
Revenue
Revenue	$	25,000	$	46,168
Operating Costs and expenses:
Wages and benefits		150,000			150,000
Legal fee		65,840			77,993
General and administrative		181,806			938,809
Total operating expenses		397,646			1,166,802
Loss from operations		(372,646)			(1,120,634)
Other income (expenses):
Interest expense		(742,470)			(1,010,974)
Gain on loan forgiveness		13,540			8,983
Change in fair value of preferred shares dividends		(84,375)			(112,500)
Loss on impairment		(219,880)			(62,828)
Net loss	$	(1,405,831)	$	(2,297,953)
Loss per share - basic and diluted	$	(0.02)	$	(0.04)
Weighted average shares outstanding - basic and diluted		75,838,613			60,793,358

See accompanying notes to the unaudited financial statements.

			WRIT Media Group, Inc.
	Statements of Stockholders' Equity (Deficit)
	For the years ended March 31, 2022 and 2021
				(Unaudited)
											Additional					Total
	Common Stock			Preferred Stock - Series A		Paid-in		Accumulated		Stockholders'
	Shares		Amount		Shares			Amount		Capital		Deficit		Equity (deficit)
Balance March 31, 2020	60,720,356			607	2,290			-	9,260,167	(11,408,011)			(2,147,238)
Issuance of shares for conversion of debt	2,960,621			30	-			-	19,865	-			19,895
Debt discount added for beneficial conversion
feature	-			-	-			-	166,667	-			166,667
Accrued dividends Series C preferred shares	-			-	-			-	-	-			-
Net loss	-			-		-			-		-		(2,297,953)			(2,297,953)
Balance March 31, 2021	63,680,977	$	637	2,290		$	-	$ 9,446,699	$ (13,705,964)	$	(4,258,629)
Issuance of shares for conversion of debt	11,802,057			118	-			-	140,358	-			140,477
Debt discount added for beneficial conversion
feature	-			-	-			-	83,333	-			83,333
Accrued dividends Series C preferred shares	-			-	-			-	-	-			-
Net loss	-			-		-			-		-		(1,405,831)			(1,405,831)
Balance March 31, 2022	75,483,034		$	755		2,290		$	-		$ 9,670,390		$ (15,111,795)		$	(5,440,650)

See accompanying notes to the unaudited financial statements.

WRIT Media Group, Inc.

Statements of Cash Flows

(Unaudited)

		Year Ended			Year Ended
	March 31, 2022		March 31, 2021
Cash Flows from Operating Activities:
Net loss	$	(1,405,831)	$	(2,297,953)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization expense		2,173			881,689
Gain on loan forgiveness		(13,540)			(8,983)
Loss on impairement		219,880			62,828
Change in fair value of preferred shares		84,375			112,500
Accrued Preferred C dividends		562,500			750,000
Default interest added to principle		-			57,750
Amortization of debt discount		83,333			83,334
Changes in operating assets and liabilities:
Accounts payable		113,753			(15,241)
Accrued liabilities		47,437			114,480
Accounts payable and accrued expenses - related party		178,271			117,369
Net cash used in operating activities		(127,649)			(142,227)
Cash Flows from Investing Activities:
Purchase of property and equipment		1,785			-
Net cash used in investing activities		1,785			-
Cash Flows from Financing Activities:
Advances from related party		38,944			116,635
Proceeds from notes payable		85,784			26,523
Net cash provided by financing activities		124,728			143,158
Net change in cash and cash equivalents		(1,136)			931
Cash and cash equivalents, at beginning of period		1,796			865
Cash and cash equivalents, at end of period	$	660	$	1,796
Supplemental disclosures of cash flow information:
Cash paid for interest	$	-	$	4,160
Supplemental disclosure of non-cash investing and financing activities:
Debt discount due to beneficial conversion feature	$	83,333	$	166,667
Common shares issued for conversion of notes payable	$	159,555	$	19,895
Accrued interest converted into notes payable	$	-	$	103,075

See accompanying notes to the unaudited financial statements.