Attached files
| file | filename |
|---|---|
| EX-32.1 - CERTIFICATION - Golden Matrix Group, Inc. | gmgi_ex321.htm |
| EX-31.1 - CERTIFICATION - Golden Matrix Group, Inc. | gmgi_ex311.htm |
| EX-10.3 - CONSULTANT AGREEMENT WITH BRETT GOODMAN - Golden Matrix Group, Inc. | gmgi_ex103.htm |
| EX-3.2 - CERTIFICATE OF CHANGE - Golden Matrix Group, Inc. | gmgi_ex32.htm |
| 10-Q/A - FORM 10-Q/A - Golden Matrix Group, Inc. | gmgi_10qa.htm |
EXHIBIT 99.1
INDEPENDENT ACCOUNTANT’S COMPILATION REPORT
To Management
Golden Matrix Group, Inc.
3651 Lindell Rd., Ste. D131
Las Vegas, NV 89103
Management is responsible for the accompanying consolidated financial statements of Golden Matrix Group, Inc. (a corporation), which comprise the consolidated balance sheet as of August 31, 2020, and the related statement of operations for the period then ended in accordance with accounting principles generally accepted in the United States of America. We have performed a compilation engagement in accordance with Statements on Standards for Accounting and Review Services promulgated by the Accounting and Review Services Committee of the AICPA. We did not audit or review the consolidated financial statements nor were we required to perform any procedures to verify the accuracy or completeness of the information provided by management. We do not express an opinion, a conclusion, nor provide any assurance on these consolidated financial statements.
Management has elected to omit substantially all the disclosures, earnings per share, consolidated statements of shareholders’ equity and cashflows required by accounting principles generally accepted in the United States of America. If the omitted disclosures and statements were included in the consolidated financial statements, they might influence the user’s conclusions about the Company’s financial position, results of operations, and cash flows. Accordingly, the consolidated financial statements are not designed for those who are not informed about such matters.
/s/ M&K CPAS, PLLC
Houston, Texas
September 22, 2020
| 1 |
Golden Matrix Group, Inc.
Consolidated Balance Sheet
(Unaudited)
|
|
| August 31, |
| |
|
|
| 2020 |
| |
| ASSETS |
|
|
| |
|
|
|
|
| |
| Current assets: |
|
|
| |
| Cash and cash equivalents |
| $ | 4,689,260 |
|
| Account receivable, net |
|
| 817,950 |
|
| Account receivable - related party |
|
| 1,346,416 |
|
| Total current assets |
|
| 6,853,626 |
|
| Total Assets |
| $ | 6,853,626 |
|
|
|
|
|
|
|
| LIABILITIES AND SHAREHOLDERS’ EQUITY |
|
|
|
|
|
|
|
|
|
|
| Current liabilities: |
|
|
|
|
| Accounts payable and accrued liabilities |
|
| 483,636 |
|
| Accounts payable - related parties |
|
| 845,860 |
|
| Advances from shareholders |
|
| 1,000 |
|
| Accrued interest |
|
| 123 |
|
| Settlement payable - related party – in default |
|
| 66,803 |
|
| Contingent liability |
|
| 29,988 |
|
| Customer deposit |
|
| 5,000 |
|
| Total Current liabilities |
|
| 1,432,410 |
|
| Total liabilities |
| $ | 1,432,410 |
|
|
|
|
|
|
|
| Shareholder’s equity: |
|
|
|
|
| Preferred stock, Series A: $0.00001 par value; 19,999,000 shares authorized, none outstanding |
|
| - |
|
| Preferred stock, Series B: $0.00001 par value, 1,000 shares authorized,1,000 shares issued and outstanding |
|
| - |
|
| Common stock: $0.00001 par value, 40,000,000 shares authorized, 19,170,480 shares issued and outstanding at August 31, 2020 |
|
| 192 |
|
| Stock payable |
|
| 1,791,863 |
|
| Additional paid-in capital |
|
| 28,809,346 |
|
| Accumulated other comprehensive loss |
|
| (683 | ) |
| Accumulated deficit |
|
| (25,179,502 | ) |
| Total shareholders’ equity |
| $ | 5,421,216 |
|
| Total liabilities and shareholders’ equity |
| $ | 6,853,626 |
|
See Accountant’s Compilation Report
| 2 |
Golden Matrix Group, Inc.
Consolidated Statement of Operations
(Unaudited)
|
|
| For the month ended |
| |
|
|
| 2020 |
| |
| Revenues |
| $ | 274,567 |
|
| Revenues-related party |
|
| 172,357 |
|
| Cost of goods sold |
|
| (230,759 | ) |
| Gross profit |
|
| 216,165 |
|
|
|
|
|
|
|
| Operating expenses |
|
|
|
|
| G&A expenses |
|
| 39,240 |
|
| G&A expense- related party |
|
| 169,192 |
|
| Professional fees |
|
| 15,526 |
|
| Research and development expenses |
|
| 15,143 |
|
| Total operating expenses |
|
| 239,101 |
|
| Loss from operations |
|
| (22,936 | ) |
|
|
|
|
|
|
| Other income (expense) |
|
|
|
|
| Interest expense |
|
| (413 | ) |
| Interest earned |
|
| 14 |
|
| Foreign exchange gain (loss) |
|
| (570 | ) |
| Total other income (expense) |
|
| (969 | ) |
| Net loss |
| $ | (23,905 | ) |
See Accountant’s Compilation Report
| 3 |