$GFMH
Goliath Film & Media Holdings

2023 Q3 Form 10-K Financial Statement

#000149315223028336 Filed on August 14, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2 2023
Revenue $121.6K
YoY Change
Cost Of Revenue
YoY Change
Gross Profit $121.6K
YoY Change
Gross Profit Margin 100.0%
Selling, General & Admin $10.82K $45.01K
YoY Change -36.58% -52.91%
% of Gross Profit 37.02%
Research & Development $0.00 $0.00
YoY Change
% of Gross Profit 0.0%
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $10.82K $45.01K
YoY Change -36.58% -52.9%
Operating Profit -$10.82K $76.57K
YoY Change -36.58% -180.11%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$10.82K $76.57K
YoY Change -36.58% -180.11%
Income Tax
% Of Pretax Income
Net Earnings -$10.82K $76.57K
YoY Change -36.58% -180.11%
Net Earnings / Revenue 62.98%
Basic Earnings Per Share $0.00 $0.00
Diluted Earnings Per Share $0.00 $0.00
COMMON SHARES
Basic Shares Outstanding 139.0M shares 177.1M shares
Diluted Shares Outstanding 177.1M shares 177.1M shares

Balance Sheet

Concept 2023 Q3 2023 Q2 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.170K $9.210K
YoY Change 485.0% 4505.0%
Cash & Equivalents $1.168K $9.214K
Short-Term Investments
Other Short-Term Assets $7.500K $7.500K
YoY Change 2400.0% 2400.0%
Inventory
Prepaid Expenses $7.500K $7.500K
Receivables
Other Receivables
Total Short-Term Assets $8.668K $16.71K $16.71K
YoY Change 1647.58% 3262.98% 3242.0%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $0.00 $0.00 $0.00
YoY Change
TOTAL ASSETS
Total Short-Term Assets $8.668K $16.71K $16.71K
Total Long-Term Assets $0.00 $0.00 $0.00
Total Assets $8.668K $16.71K $16.71K
YoY Change 1647.58% 3262.98% 3242.0%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $119.7K $116.9K
YoY Change -6.19% 10.19%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $119.7K $116.9K $116.9K
YoY Change -38.41% -34.04% -34.04%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $119.7K $116.9K $116.9K
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $119.7K $116.9K $116.9K
YoY Change -38.41% -34.04% -34.04%
SHAREHOLDERS EQUITY
Retained Earnings -$1.083M -$1.072M
YoY Change -7.1% -6.67%
Common Stock $139.0K $139.0K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$111.0K -$100.2K -$100.2K
YoY Change
Total Liabilities & Shareholders Equity $8.668K $16.71K $16.71K
YoY Change 1647.58% 3262.98% 3242.0%

Cashflow Statement

Concept 2023 Q3 2023 Q2 2023
OPERATING ACTIVITIES
Net Income -$10.82K $76.57K
YoY Change -36.58% -180.11%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$10.55K -$4.962K
YoY Change 173.85% -78.26%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change
Cash From Investing Activities $0.00
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $2.500K $13.98K
YoY Change -35.06% 64.74%
NET CHANGE
Cash From Operating Activities -$10.55K -$4.962K
Cash From Investing Activities 0.000
Cash From Financing Activities $2.500K $13.98K
Net Change In Cash -$8.046K $9.016K
YoY Change 804500.0% -162.89%
FREE CASH FLOW
Cash From Operating Activities -$10.55K -$4.962K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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CY2023 us-gaap Use Of Estimates
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<p id="xdx_846_eus-gaap--UseOfEstimates_zNMix32NQhvk" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline"><span id="xdx_869_zke3btq4t2K8">Use of Estimates</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of financial statements in accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. A change in managements' estimates or assumptions could have a material impact on the Company's financial condition and results of operations during the period in which such changes occurred.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Actual results could differ from those estimates. The Company's financial statements reflect all adjustments that management believes are necessary for the fair presentation of their financial condition and results of operations for the periods presented.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><b>GOLIATH FILM AND MEDIA HOLDINGS</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><b>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: center"><b>FOR THE YEARS ENDED APRIL 30, 2023 AND 2022</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: left"> </p>
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CY2023 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p id="xdx_84F_eus-gaap--ConcentrationRiskCreditRisk_zYTZ3Nmgbtg1" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline"><span id="xdx_863_z62WIWd1Z7X8">Concentrations, Risks, and Uncertainties</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company has one customer, Mar Vista, that accounted for all of the Company’s gross sales during 2023. The Company had no customers constituting greater than <span id="xdx_901_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20210501__20220430__srt--MajorCustomersAxis__custom--NoCustomersMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember_zbKTOyyoo737" title="Concentration risk, percentage">10</span>% of the Company’s revenue in 2022.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">There were no suppliers that accounted for <span id="xdx_90E_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20210501__20220430__srt--MajorCustomersAxis__custom--NoSuppliersMember__us-gaap--ConcentrationRiskByTypeAxis__custom--SuppliersConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember_zaNYdVCoHqQ5">10</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">% or more of total expenditures for the fiscal years ended April 30, 2023 and 2022. The Company had</span> one supplier that accounted for <span id="xdx_90B_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20210501__20220430__srt--MajorCustomersAxis__custom--OneSuppliersMember__us-gaap--ConcentrationRiskByTypeAxis__custom--SuppliersConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember_zzuoF3J2yLI5">82</span>% of accounts payable at April 30, 2023 and two suppliers that accounted for 79% and 17%, respectively, of accounts payable at April 30, 2022.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2022 us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
0 usd
CY2023Q2 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
1072000 usd
CY2023Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000 shares
CY2022Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000 shares
CY2023Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2022Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2023Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2023Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2022Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2022Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2023Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
300000000 shares
CY2022Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
300000000 shares
CY2023Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2022Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2023Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
138964917 shares
CY2022Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
138964917 shares
CY2023Q2 us-gaap Common Stock Shares Subscribed But Unissued
CommonStockSharesSubscribedButUnissued
38153269 shares
CY2023 us-gaap Substantial Doubt About Going Concern Conditions Or Events
SubstantialDoubtAboutGoingConcernConditionsOrEvents
The Company’s financial statements are prepared using accounting principles generally accepted in the United States of America applicable to a going concern, which contemplates the realization of assets and liquidation of liabilities in the normal course of business. However, the Company does not have significant cash or other current assets, nor does it have an established source of revenues sufficient to cover its operating costs, which raises substantial doubt about our ability to continue as a going concern for a period of one year from the issuance of these financial statements
CY2023 GFMH Operating Loss Carryforward Expiration Date
OperatingLossCarryforwardExpirationDate
2023 and 2039
CY2023Q2 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
300000 usd
CY2023Q2 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
300000 usd
CY2022Q2 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
321000 usd
CY2023Q2 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
300000 usd
CY2022Q2 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
321000 usd
CY2023 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210 pure
CY2023 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.070 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.070 pure
CY2023 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.280 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.280 pure
CY2023 GFMH Percentage Of Residual Payments
PercentageOfResidualPayments
0.036 pure
CY2023 GFMH Residual Payments
ResidualPayments
63472 usd
CY2022 GFMH Residual Payments
ResidualPayments
0 usd
CY2023 GFMH Balance Amount Of Residual Payments
BalanceAmountOfResidualPayments
0 usd

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