CMG HOLDINGS GROUP, INC.
CIK:0001346655|SEC Filings
Consolidated Statements of Operations - USD ($) |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
Sep. 30, 2024 |
Sep. 30, 2023 |
Sep. 30, 2024 |
Sep. 30, 2023 |
|
| Income Statement [Abstract] | ||||
| Revenues | $ 14,805 | $ 146,143 | $ 1,179,894 | $ 625,568 |
| Operating expenses | ||||
| Cost of revenues | 3,491 | 27,921 | 931,945 | 301,864 |
| General and administrative expenses | 159,155 | 250,158 | 486,765 | 644,283 |
| Total operating expenses | 162,646 | 278,079 | 1,418,710 | 946,147 |
| Net income from operations | (147,841) | (131,936) | (238,816) | (320,579) |
| Other income | ||||
| Interest expense | (12,460) | (34,670) | (24,072) | |
| Interest income | 39,286 | 34,450 | 110,114 | 101,325 |
| Total other income | 26,826 | 34,450 | 75,444 | 77,253 |
| Net income | $ (121,015) | $ (97,486) | $ (163,372) | $ (243,326) |
Consolidated Statement of Cash Flows - USD ($) |
9 Months Ended | |
|---|---|---|
Sep. 30, 2024 |
Sep. 30, 2023 |
|
| CASH FLOWS FROM OPERATING ACTIVITIES | ||
| Net income | $ (163,372) | $ (243,326) |
| Adjustments to reconcile net income to cash used in operating activities | ||
| Depreciation | 1,862 | |
| Deferred compensation | 135,000 | 135,000 |
| Interest expense | 34,670 | 19,500 |
| Interest income | (110,115) | (101,325) |
| Net cash provided by operations | (103,817) | (188,289) |
| CASH FLOWS FROM INVESTING ACTIVITIES | ||
| Customer deposit | 40,000 | |
| Loan to shareholder | 100,000 | |
| Payment of deferred compensation | (149,280) | (32,500) |
| Net cash used in investing activities | (9,280) | (32,500) |
| CASH FLOWS FROM FINANCING ACTIVITIES | ||
| Proceeds from repayment of notes receivable | 29,380 | 12,000 |
| Proceeds from loan payable | (10,000) | |
| Payment of notes receivable | (10,257) | (17,000) |
| Net cash provided by (used in) financing activities | 19,123 | (15,000) |
| Net increase in cash | (93,974) | (235,789) |
| Cash, beginning of period | 240,598 | 338,157 |
| Cash, end of period | $ 146,624 | $ 102,368 |
Consolidated Balance Sheet - USD ($) |
Sep. 30, 2024 |
Dec. 31, 2023 |
|---|---|---|
| CURRENT ASSETS | ||
| Cash | $ 146,624 | $ 240,597 |
| Loan to shareholder | 100,000 | |
| Loan receivable | 1,740,180 | 1,649,189 |
| Total current assets | 1,886,804 | 1,989,786 |
| Property and equipment | ||
| Total Assets | 1,886,804 | 1,989,786 |
| CURRENT LIABILITIES | ||
| Accrued liabilities | 93,181 | 58,511 |
| Customer deposit | 40,000 | |
| Deferred compensation | 518,634 | 532,913 |
| Loan from outside party | 15,000 | 15,000 |
| Loan payable | 712,000 | 712,000 |
| Note payable | 60,000 | 60,000 |
| Total current liabilities | 1,438,815 | 1,378,425 |
| TOTAL LIABILITIES | 1,438,815 | 1,378,425 |
| STOCKHOLDERS' DEFICIT | ||
| Common Stock 450,000,000 shares authorized; $0.001 par value, 438,672,016 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively | 438,672 | 438,672 |
| Additional paid in capital | 14,630,689 | 14,630,689 |
| Accumulated deficit | (14,621,372) | (14,457,999) |
| TOTAL STOCKHOLDERS DEFICIT | 447,989 | 611,362 |
| TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT | $ 1,886,804 | $ 1,989,786 |