HOLLYWALL ENTERTAINMENT, INC. HOLLYWALL ENTERTAIMENT, INC.
UN-AUDITED FINANCIAL STATEMENTS FOR THE PERIOD ENDING 12/31/2021
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
Consolidated Balance SheetsASSETS
Current Assets
Cash and Cash Equivalents
Prepaid Expenses
Total Current Assets
Property and Equipment, net
Vehicles, net
Total Property and Equipment, net
Other Non Current Assets
Intangibles, net
Total Other Non Current Assets
LIABILITIES AND STOCKHOLDERS' EQUITY
Liabilities
Current Liabilities
Accounts Payable
Convertible Notes Payable
Total Current Liabilities
Commitments and Contingencies (Note 12)STOCKHOLDERS' EQUITY
Preferred Stock, $0.001 par value, 200,000 shares
authorized, 99,391 issued and outstanding
Treasury Stock
Common Stock, $0.001 par value; 300,000,000 shares
authorized, 91,991,607 and 89,796,284 issued and
TOTAL LIABILITIES
outstanding at December 31, 2021 and 2020, respectively
Common Stock to be Issued
Additional Paid-In Capital
Accumulated Deficit
Total Stockholders' Equity
TOTAL ASSETS
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY
$
12/31/2021 | 12/31/2020 |
128,318 | 44,948 |
1,128,090 | 2,039,000 |
1,256,408 | 2,083,948 |
46,261 | 51,104 |
46,261 | 51,104 |
17,122,222 | 21,588,889 |
17,122,222 | 21,588,889 |
$
18,424,891
As of
$
$
$
45,523 $ 305,000
23,723,941
26,228 -
350,523 26,228
350,523 26,228
99 (7,000)
91,991
1,023,168
67,016,754
(50,050,644)
17,828,558
$
18,424,891 $
99 (7,000)
89,796
777,358
67,460,568
(44,623,108)
23,697,713
23,723,941
Consolidated Statements of OperationsREVENUE
Music Licensing Income
Lobbying Income
OPERATING EXPENSES
Amortization Expense
Executive Management Compensation
General and Administrative Expenses
Professional Fees
Depreciation Expense
Other Income
Gain on Forgiveness of Debt Other Expenses
Interest Expense
Provision for income taxes
Total RevenueTotal Operating Expenses
Loss from OperationsNet Other Income/(Expenses)
Net LossFor the years ending
12/31/2021
12/31/2020
$
354,261 $ 247,470 221,102 299,543 575,363 547,013
4,466,667
4,466,667
587,357 475,000
567,156 447,088
376,876 70,612
4,843 19,372
6,002,899 (5,427,536)
-
- - -
$ (5,427,536)
5,478,739 (4,931,726)
39,500
(5,284)
$
34,216 - (4,897,510)Basic and diluted loss per share
$
(0.11)
$
(0.10)
Weighted average number of shares outstanding, basic and diluted
47,746,988
47,746,988
Consolidated Statement of Cash FlowsOPERATING ACTIVITIES
Net LossAdjustments to Reconcile Net Loss to Net Cash From Operating Activities:
Depreciation Expense
Amortization Expense
Executive Stock Compensation
Stock Compensation
Changes in assets and liabilities:
Accounts Payable
Accrued Expenses Prepaid Expenses
Total Adjustments to reconcile Net Income to Net Cash
Net Cash Provided by Operating Activities
INVESTING ACTIVITIES
Purchase of Vehicles
Net Cash From Investing Activities
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from issuance of Convertible Notes Payable
For the years ending
12/31/2021
12/31/2020
$
(5,427,536)
4,843 4,466,667
251,061 556,108
(5,000) 96,000
19,295 (25,980)
- (621,059)
910,910 5,647,776 220,240
- -
$
(4,897,510)
19,372 4,466,667
- 4,491,108 (406,401)
- -
305,000
(588,750)Payments on Convertible Notes Payable 805,904
Proceeds from the sale of Common Stock (441,870) 230,250
Net Cash From Financing Activities (136,870) 447,404
NON-CASH OPERATING AND FINANCING ACTIVITIES
Common Stock issued in advance of services
Common Stock issued from previous periods (2,795) Common Stock issued for accrued expenses
Cancellation of shares 600
(846,000)
(1,440,000)Net Change in Cash and Cash Equivalents 83,370 41,003
Cash and Cash Equivalents, Beginning of Period 44,948 3,945
Cash and Cash Equivalents, End of PeriodSupplemental Disclosure of Cash Flow Information:
Cash Paid for Interest
Cash Paid for Taxes
$
128,318
$ 44,948
$ $
- -$ $
- -
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Hollywall Entertainment Inc. published this content on 31 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 March 2022 05:25:03 UTC.
