Golden Developing Solutions, Inc.

CIK:0001736865|SEC Filings

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	3 Months Ended		6 Months Ended
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income Statement [Abstract]
Revenue	$ 881,908	$ 0	$ 1,051,714	$ 0
Cost of revenue	(449,656)	0	(600,439)	0
Gross profit	432,252	0	451,275	0
Operating Expenses:
Professional fees	73,755	112,489	90,152	124,510
General and administrative	446,152	50,656	645,356	96,865
Total operating expenses	519,907	163,145	735,508	221,375
Income (Loss) from Operations	(87,655)	(163,145)	(284,233)	(221,375)
Other Income (Expense)
Other income	15,124	0	15,124	0
Gain on settlement of liabilities	0	0	0	11,000
Derivative gain (loss)	0	23,574	0	148,465
Equity Method income (loss)	0	0	(509,603)	0
Interest expense, net	(1,397,067)	(83,418)	(2,564,317)	(145,027)
Net Income (loss) , before tax	(1,469,598)	(222,989)	(3,343,029)	(206,937)
Income tax expense	0	0	0	0
Net Income (Loss)	$ (1,469,598)	$ (222,989)	$ (3,343,029)	$ (206,937)
Net income (loss) from per share - basic	$ (0.00)	$ (0.00)	$ (0.00)	$ (0.00)
Net income (loss) from per share - dilutive	$ (0.00)	$ (0.00)	$ (0.00)	$ (0.00)
Weighted average shares outstanding - basic	1,406,567,586	764,605,629	1,421,998,950	738,475,365
Weighted average shares outstanding - dilutive	1,406,567,586	764,605,629	1,421,998,950	738,475,365

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	6 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	Jun. 30, 2023	Jun. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$ (3,343,029)	$ (206,937)
Adjustments to reconcile net loss from continuing operations to net
Stock-based compensation	27,977	37,240
Note payable issued for services	0	75,000
Derivative (gain) loss	0	(148,465)
Depreciation and amortization	7,952	0
Amortization of debt discount and deferred financing costs	0	119,257
Gain on settlement of debt	0	(11,000)
Equity method income	509,603	0
Net Changes in:
Accounts receivable	89,726	0
Inventory	86,759	0
Other assets	97,670	0
Accounts payable and accrued expenses	2,409,253	17,927
Right of use lease liability	(6,571)
Net cash used in operating activities	(120,660)	(116,978)
CASH FLOWS FROM INVESTING ACTIVITIES:
Investments - cost method	(223,500)	0
Investments - equity method	484,137	0
Net cash used in investing activities	260,637	0
CASH FLOWS FROM FINANCING ACTIVITIES:
Payments on related party loans	(6,117)	(25,200)
Payments on notes payable	(20,668)	(70,000)
Proceeds from convertible notes payable	0	29,500
Net proceeds from the sale of common shares	0	240,000
Net cash provided by financing activities	(26,785)	174,300
NET CHANGE IN CASH AND CASH EQUIVALENTS	113,192	57,322
CASH AND CASH EQUIVALENTS, beginning of period	210,257	10,735
CASH AND CASH EQUIVALENTS, end of period	323,449	68,057
Supplemental disclosures:
Cash paid for income taxes	0	0
Cash paid for interest	169,312	0
Noncash activities
Beneficial conversion feature upon issuance of convertible notes	0	94,388
Business combination of cost method investment	2,667,505	0
Business combination of equity method investment	1,883,888	0
Conversion and settlement of note	0	19,000
Settlement of derivative liability on conversion	0	51,857
Common stock and warrants issued for deferred financing costs	$ 0	$ 10,112

CONSOLIDATED BALANCE SHEETS - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 323,449	$ 210,257
Accounts receivable, net	368,489	0
Inventory	688,258	0
Prepaids and other current assets	57,291	0
Total current assets	1,437,487	210,257
Property and equipment, net	23,958	0
Right-of-use asset	140,408	0
Goodwill	3,138,200	0
Investments - cost method	3,181,435	5,625,440
Investments - equity method	0	2,877,628
Total assets	7,921,488	8,713,325
Current liabilities:
Accounts payable and accrued expenses	0	166,868
Right of use liabilities - operating leases short-term	270,188	242,001
Notes payable - related party	0	6,117
Acquisition notes payable - short-term	0	50,000
Note payable, net of discount and deferred financing costs	0	6,135,049
Convertible notes payable, net	0	72,700
Liabilities subject to compromise	8,813,201	0
Total current liabilities	9,083,390	6,672,735
Right of use liabilities - operating leases, net of current portion	112,560	0
Total liabilities	9,195,950	6,672,735
Commitments and Contingencies
Stockholders' equity:
Common stock, 4,000,000,000 shares authorized, $0.0001 par value, 1,413,490,663 and 698,127,851 issued and outstanding, respectively	141,349	171,849
Additional paid-in capital	15,658,402	15,631,925
Accumulated deficit	(17,106,213)	(13,763,184)
Total stockholders' equity	(1,274,462)	2,040,590
Total liabilities and stockholders' equity	7,921,488	8,713,325
Series A Preferred Stock [Member]
Stockholders' equity:
Preferred stock value	0	0
Series B Preferred Stock [Member]
Stockholders' equity:
Preferred stock value	$ 32,000	$ 0