GOLDEN EAGLE INTERNATIONAL INC

CIK:0000869531|SEC Filings

Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
REVENUES
Sales		$ 21,066	$ 5,773	$ 29,391
Cost of Sales		(15,272)		(26,110)
Gross Margin		5,794	5,773	3,281
OPERATING EXPENSES
General and administrative	7,919	304,403	18,804	652,152
Total operating expenses	7,919	304,403	18,804	652,152
OPERATING LOSS	(7,919)	(298,609)	(13,031)	(648,871)
OTHER INCOME (EXPENSE)
Interest expense	(186,315)	(446,384)	(333,235)	(696,536)
Total other income (expense)	(186,315)	(446,384)	(333,235)	(696,536)
Loss before income taxes	(194,234)	(744,993)	(346,266)	(1,345,407)
Income taxes
NET LOSS	$ (194,234)	$ (744,993)	$ (346,266)	$ (1,345,407)
Basic loss per share	$ (0.00)	$ (0.04)	$ (0.00)	$ (0.08)
Diluted loss per share	$ (0.00)	$ (0.04)	$ (0.00)	$ (0.08)
Basic weighted average common shares outstanding	783,029,648	17,077,371	755,379,563	16,896,102
Diluted weighted average common shares outstanding	783,029,648	17,077,371	755,379,563	16,896,102

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (346,266)	$ (1,345,407)
Adjustments to reconcile net loss to cash used by operating activities
Amortization of debt discount	65,712	162,425
Issuance of preferred stock for services	50
Changes in operating assets and liabilities
(Increase) decrease in accounts receivable	2,800	(42,530)
(Increase) decrease in prepaid expenses	2,238	(141,258)
Decrease in inventory		6,499
Increase (decrease) in accounts payable	3,978	(6,716)
Increase in deferred revenue		45,358
Decrease in accounts payable - related parties		(36,384)
Increase in accrued interest, convertible notes payable	267,523	28,108
Net cash flows used by operating activities	(3,965)	(1,329,905)
CASH FLOWS FROM INVESTING ACTIVITIES
Net cash provided by investing activities
CASH FLOWS FROM FINANCING ACTIVITIES
Net increase in cash used in excess of bank balance	454
Proceeds from convertible notes payable		1,981,550
Principal payments on convertible notes payable		(608,000)
Net cash flows provided by financing activities	454	1,373,550
NET CHANGE IN CASH	(3,511)	43,645
CASH - BEGINNING OF PERIOD	3,511	91,643
CASH - END OF PERIOD		135,288
Schedule of Non-cash Investing and Financing Activities:
Conversion of convertible notes payable into common stock	5,819	40,000
Conversion of accrued interest, convertible notes payable into common stock	8,021	2,685
Recording of premium on convertible debt at stock redemption value		3,050,213
Amortization to additional paid in capital of premium on convertible notes payable	706,079	1,448,214
Debt discounts on issuance of convertible notes payable		118,550
Returnable shares issued		137,348
Cash paid for
Interest		506,002
Income taxes

Consolidated Balance Sheets (Unaudited) - USD ($)	Jun. 30, 2020	Dec. 31, 2019
CURRENT ASSETS
Cash		$ 3,511
Accounts receivable		2,800
Prepaid expenses	989	3,227
Total current assets	989	9,538
Total Assets	989	9,538
CURRENT LIABILITIES
Cash drawn in excess of bank balance	454
Accrued interest, convertible notes payable	440,968	181,466
Convertible notes payable (net of unamortized debt discounts of $11,449 and $77,161, and unamortized debt premiums of $68,462 and $774,541 respectively)	2,757,759	3,403,945
Total current liabilities	3,432,247	3,814,499
Total Liabilities	3,432,247	3,814,499
STOCKHOLDERS’ DEFICIT
Common stock, par value $.0001 per share; shares 300,000,000,000 authorized; 783,029,648 and 487,359,288 shares issued and outstanding, respectively	78,303	48,736
Additional paid-in capital	1,337,098	655,696
Accumulated deficit	(4,858,859)	(4,512,593)
Total stockholders’ deficit	(3,431,258)	(3,804,961)
Total Liabilities and Stockholders’ Deficit	989	9,538
Series A Convertible Preferred Stock [Member]
STOCKHOLDERS’ DEFICIT
Preferred Stock Value	9,800	800
Series B Convertible Preferred Stock [Member]
STOCKHOLDERS’ DEFICIT
Preferred Stock Value	2,400	2,400
Related Party [Member]
CURRENT LIABILITIES
Accounts payable	217,500	217,500
Nonrelated Party [Member]
CURRENT LIABILITIES
Accounts payable	$ 15,566	$ 11,588