FEARLESS FILMS, INC.

CIK:0001122742|SEC Filings

Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Income Statement [Abstract]
REVENUE
EXPENSES
General and administrative	582	2,862
Consulting Expenses [Note 10]	220,954	62,796
Management fees [Note 9]	14,965	15,028
Professional fees	35,780	48,415
Total operating expenses	272,281	129,101
(Loss) / Gain on settlement of payables [Note 8 & 10]		48,000
Interest Expense [Note 7]	(4,729)	(4,534)
Exchange (Loss) / Gain	40,656	33,419
Net (loss) income before income taxes	(236,354)	(52,216)
Income taxes
Net (loss) income	(236,354)	(52,216)
Foreign currency translation adjustment	(44,545)	(34,847)
Comprehensive (loss) income	$ (280,899)	$ (87,063)
(Loss) earnings per share - basic and diluted	$ (0.01)	$ (0.00)
Weighted average number of common shares - basic and diluted	33,895,157	33,379,601

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
OPERATING ACTIVITIES
Net (loss) income	$ (236,354)	$ (52,216)
Adjustments to reconcile net income (loss) to net cash used in operations:
Loss/(Gain) on settlement of accounts payable		(48,000)
Changes in operating assets and liabilities:
Prepaid expenses	220,954	(289,122)
Accounts payable	45,053	345,662
Accrued liabilities	7,319	7,041
Cash used in operating activities	36,972	(36,635)
FINANCING ACTIVITIES
Issue of Shares for cash		50,000
Proceeds from Loans Payable	5,000
Cash provided by financing activities	5,000	50,000
Net increase (decrease) in cash during the period	41,972	13,365
Effect of foreign currency translation	(41,063)	(33,740)
Cash at beginning	1,816	39,036
Cash at end	2,725	18,661
Additional cash flow information
Interest paid
Taxes paid

Consolidated Balance Sheets - USD ($)	Mar. 31, 2022	Dec. 31, 2021
ASSETS
Cash	$ 2,725	$ 1,816
Prepaid expenses [Note 10]	67,917	288,871
Total current assets	70,642	290,687
Intangible Assets [Note 5]	88,400	88,400
Total assets	159,042	379,087
Liabilities
Accounts payable [Note 6]	594,175	546,393
Accrued liabilities	88,804	81,021
Loan payable [Note 7]	383,808	378,519
Total current liabilities	1,066,787	1,005,933
Total liabilities	1,066,787	1,005,933
Stockholders deficiency
Preferred stock, $0.001 par value, 20,000,000 authorized. 1,000,000 shares issued and outstanding as at March 31, 2022 and December 31, 2021 respectively [Note 8]	1,000	1,000
Common stock, $0.001 par value, 500,000,000 authorized, 33,895,157 shares issued and outstanding as at March 31, 2022 and December 31,2021 respectively [Note 8]	33,895	33,895
Common stock to be issued [Note 8]	1,872,149	1,872,149
Additional paid-in-capital	3,869,088	3,869,088
Accumulated other comprehensive income	112,417	156,962
Accumulated deficit	(6,796,294)	(6,559,940)
Total stockholders deficiency	(907,745)	(626,846)
Total liabilities and stockholders deficiency	$ 159,042	$ 379,087