Hollywall Entertainment: Financial Statements and Footnotes for the Period Ending December 31, 2021
HOLLYWALL ENTERTAIMENT, INC.
UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD END 12/31/2021
TABLE OF CONTENTS
INDEPENDENT ACCOUNTANT’S REPORT 1
ASSESSMENT 2
INCOME STATEMENT 3
CASH FLOW STATEMENT 4
STATEMENT OF DEFERRED PROFITS 5
FOOTNOTES 6
Consolidated balance sheetsASSETS
Cash and cash equivalents
Prepaid expenses
Property and equipment, net
Vehicles, net
Total property, plant and equipment, net
Other non-current assets
Intangible assets, net
Total other non-current assets
LIABILITIES AND EQUITY
Passives
Accounts payable
Convertible notes payable
Total current liabilities
Commitments and contingencies (note 12)EQUITY
Preferred shares, par value $0.001, 200,000 shares
authorised, 99,391 issued and outstanding
Own shares
Common shares, par value $0.001; 300,000,000 shares
authorized, 91,991,607 and 89,796,284 issued and
TOTAL RESPONSIBILITIES
outstanding as of December 31, 2021 and 2020, respectively
Ordinary shares to be issued
Premium
Accumulated deficit
Full shareholder equity
TOTAL LIABILITIES AND EQUITY
$
31/12/2021 |
31/12/2020 |
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
From
$
$
$
$45,523 305,000
23,723,941
26,228 –
350 523 26 228
350 523 26 228
99 (7000)
91 991
1,023,168
67,016,754
(50,050,644)
17,828,558
$
99 (7000)
89,796
777 358
67 460 568
(44,623,108)
23,697,713
23,723,941
Consolidated Statements of IncomeINCOME
Music licensing revenue
Lobbying revenue
EXPLOITATION CHARGES
Depreciation expense
Executive compensation
General and administrative expenses
Professional fees
Depreciation expense
Other income
Gain on debt forgiveness Other expenses
Interest charges
Provision for income taxes
Total revenueTotal operating expenses
Operating lossOther net income/(expense)
Net lossFor the years ending
31/12/2021
31/12/2020
$
$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)
–
– – –
5,478,739 (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 flowsOPERATIONAL ACTIVITIES
Net lossAdjustments to reconcile net loss to net cash provided by operating activities:
Depreciation expense
Depreciation expense
Executive stock-based compensation
Stock-based compensation
Changes in assets and liabilities:
Accounts payable
Accrued expenses Expenses paid in advance
Total adjustments to reconcile net income to net cash
Net cash from operating activities
INVESTMENT ACTIVITIES
Purchase of vehicles
Net cash provided by investing activities
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from the issuance of convertible notes payable
For the years ending
31/12/2021
31/12/2020
$
(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 sale of common shares (441,870) 230,250
Net cash provided by financing activities (136,870) 447,404
NON-CASH OPERATING AND FINANCING ACTIVITIES
Common shares issued prior to services
Common shares issued in prior periods (2,795) Common shares 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 periodAdditional disclosure of cash flow information:
Cash paid for interest
Paid cash for taxes
$
128,318
$44,948
$$
– –$$
– –
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