BROADSIDE ENTERPRISES, INC. DISCLOSURE STATEMENT
PURSUANT TO THE
PINK BASIC DISCLOSURE GUIDELINES
QUARTERLY REPORT
FOR THE PERIOD ENDED
JUNE 30, 2022
FINANCIAL STATEMENTS
Filed August 16, 2022
Broadside Enterprises, Inc. 151 Calle de San Francisco Ste 200, PMB 0244
San Juan, PR 00901-1607
BROADSIDE ENTERPRISES, INC. UNAUDITED
FINANCIAL STATEMENTS
Issuer's most recent Financial Statements for the
Quarter ended June 30, 2022
TABLE OF CONTENTS | |
Balance Sheet for the Year ended June 30, 2022 | Page 3 |
Statement of Operations for the Year ended June 30, 2022 | Page 4 |
Statement of Stockholder's Equity for the Year ended June 30, 2022 | Page 5 |
Statement of Cash Flows for the Year ended June 30, 2022 | Page 6 |
Notes to Financial Statements | Page 7 |
Page 1
Broadside Enterprises, Inc.
Balance Sheets
(Unaudited)
June 30, | December 31, | |||||||
2022 | 2021 | |||||||
ASSETS | ||||||||
Current Assets | ||||||||
Cash | $ | 29 | $ | 33 | ||||
Accounts Receivable | 14,586 | 14,586 | ||||||
Total Current Assets | 14,615 | 14,619 | ||||||
Other Assets | ||||||||
Notes Receivable, Net of Current Portion | - | - | ||||||
Film Rights | - | - | ||||||
Total Assets | $ | 14,615 | $ | 14,619 | ||||
LIABILITIES AND STOCKHOLDERS' DEFICIT | ||||||||
Current Liabilities | ||||||||
Accounts Payable and Accrued Liabilities | $ | 13,405 | $ | 18,674 | ||||
Other Short-Term Payables | ||||||||
Shareholder Advances | 32,693 | 24,943 | ||||||
Accrued Salary | - | |||||||
Other Accrued Expenses | - | |||||||
Total Current Liabilities | 46,098 | 43,618 | ||||||
Long Term Liabilities | ||||||||
Notes Payable, Net of Current Portion | 98,111 | 98,111 | ||||||
Accrued Interest | 62,932 | 57,292 | ||||||
Provision | 250,000 | 250,000 | ||||||
Total Long Term Liabilities | 411,044 | 405,404 | ||||||
Total Liabilities | $ | 457,142 | $ | 449,021 | ||||
Stockholder's Surplus (Deficit) | ||||||||
Preferred Stock | 1 | 1 | ||||||
Par value $0.00001 per share; 1,000,000 shares authorized, 68,000 shares issued and | ||||||||
outstanding as of June 30, 2022 and December 31, 2021 | ||||||||
Common Stock | 97 | 97 | ||||||
Par value $0.000001 per share; 199,000,000 shares authorized, 9,734,459 shares issued | ||||||||
and outstanding as of June 30, 2022 and December 31, 2021 | ||||||||
Additional Paid in Capital | 5,596,733 | 5,596,733 | ||||||
Retained Earnings | (6,039,358) | (6,031,234) | ||||||
Total Stockholders' Surplus (Deficit) | $ | (442,527) | $ | (434,403) | ||||
Total Liabilities and Stockholders' Surplus (Deficit) | $ | 14,615 | $ | 14,619 |
The accompanying notes are an integral part of theses financial statements.
Page 2
Broadside Enterprises, Inc.
Statements of Operations
(Unaudited)
For Quarter ended | For Quarter ended | Six Months ended | Six Months ended | |||||||||||
June 30, | June 30, | June 30, | June 30, | |||||||||||
2022 | 2021 | 2022 | 2021 | |||||||||||
REVENUE | ||||||||||||||
Sales (less Returns and Allowances) | $ | - | $ | - | $ | - | $ | - | ||||||
Cost of Goods Sold | - | - | ||||||||||||
Total Gross Profit | - | - | - | - | ||||||||||
EXPENSES | ||||||||||||||
General and Administrative | $ | 4,156 | $ | 6,709 | $ | 5,534 | $ | 10,329 | ||||||
Payroll Expense | - | - | - | - | ||||||||||
Total Expenses | 4,156 | 6,709 | 5,534 | 10,329 | ||||||||||
NET OPERATING LOSS | (4,156) | (6,709) | (5,534) | (10,329) | ||||||||||
Depreciation & Amortization | ||||||||||||||
INCOME (LOSS) BEFORE INTEREST & TAXES | (4,156) | (6,709) | (5,534) | (10,329) | ||||||||||
Interest Income (Expense) | $ | (2,836) | $ | (2,836) | $ | (5,640) | $ | (5,615) | ||||||
Other Income (Expense) | - | - | 3,050 | 543,000 | ||||||||||
NET INCOME (LOSS) | $ | (6,992) | $ | (9,544) | $ | (8,124) | $ | 527,056 | ||||||
Basis Loss per Common Share | $ | (0) | $ | (0) | $ | (0) | $ | 0 | ||||||
Weighted Average Number of Common Shares Outstanding | 9,734,459 | 9,734,459 | 9,734,459 | 9,734,459 | ||||||||||
The accompanying notes are an integral part of theses financial statements.
Page 3
Broadside Enterprises, Inc.
Condensed Consolidated Statement of Changes in Stockholders' Deficit
(Unaudited)
Common Stock | Preferred Stock | Additional Paid- | Accumulated Deficit | Total Stockholders | ||||||||||||||||
During the | ||||||||||||||||||||
Surplus (Deficit) | ||||||||||||||||||||
Shares | Amount | Shares | Amount | In Capital | Development Stage | |||||||||||||||
Balance at Inception, August 14, 1996 | - | $ | - | - | - | $ | - | $ | - | $ | - | |||||||||
Sale of stock for cash | 2,069,346 | 21 | - | - | 2,949,975 | - | 2,949,996 | |||||||||||||
Shares issued for debt | 24,759,666 | 248 | 30,000 | 0 | 1,662,777 | - | 1,663,025 | |||||||||||||
Shares issued for services | 3,134 | 0 | 38,000 | 0 | 753,810 | - | 753,810 | |||||||||||||
Shares retired / repurchased | (18,598,461) | (186) | - | - | (19,814) | - | (20,000) | |||||||||||||
Shares issued for purchase of assets | 500,000 | 5 | - | - | 49,995 | - | 50,000 | |||||||||||||
Shares issued for rounding as part of reverse split | 774 | - | - | - | - | - | - | |||||||||||||
Net loss | - | - | - | - | - | (7,359,051) | (7,359,051) | |||||||||||||
Balance, December 31, 2017 | 8,734,459 | $ | 87 | 68,000 | $ | 1 | $ | 5,396,743 | $ | (7,359,051) | $ | (1,962,220) | ||||||||
Shares issued for cash | 1,000,000 | 10,000 | - | - | 190,000 | - | 200,000 | |||||||||||||
Shares issued for conversion of debt | - | - | - | - | - | - | - | |||||||||||||
Shares retired / repurchased | - | - | - | - | - | - | - | |||||||||||||
Adjustment for increase in par value | - | 87,257 | - | 679 | (87,937) | - | - | |||||||||||||
Net income (loss) | - | - | - | - | - | 1,035,569 | 1,035,569 | |||||||||||||
Balance, December 31, 2018 | 9,734,459 | $ | 97,345 | 68,000 | $ | 680 | $ | 5,498,806 | $ | (6,323,482) | $ | (726,652) | ||||||||
Shares issued for cash | - | - | - | - | - | - | - | |||||||||||||
Shares issued for conversion of debt | - | - | - | - | - | - | - | |||||||||||||
Net income (loss) | - | - | - | - | - | (123,965) | (123,965) | |||||||||||||
Balance, December 31, 2019 | 9,734,459 | $ | 97,345 | 68,000 | $ | 680 | $ | 5,498,806 | $ | (6,447,448) | $ | (850,617) | ||||||||
Shares issued for cash | - | - | - | - | - | - | - | |||||||||||||
Shares issued for conversion of debt | - | - | - | - | - | - | - | |||||||||||||
Net income (loss) | - | - | - | - | - | (132,373) | (132,373) | |||||||||||||
Balance, December 31, 2020 | 9,734,459 | $ | 97,345 | 68,000 | $ | 680 | $ | 5,498,806 | $ | (6,579,821) | $ | (982,990) | ||||||||
Shares issued for cash | - | - | - | - | - | - | - | |||||||||||||
Shares issued for conversion of debt | - | - | - | - | - | - | - | |||||||||||||
Adjustment for decrease in par value | - | (97,247) | - | (679) | 97,927 | - | - | |||||||||||||
Net income (loss) | - | - | - | - | - | 548,587 | 548,587 | |||||||||||||
Balance, December 31, 2021 | 9,734,459 | $ | 97 | 68,000 | $ | 1 | $ | 5,596,733 | $ | (6,031,234) | $ | (434,403) | ||||||||
Shares issued for cash | - | |||||||||||||||||||
Shares issued for conversion of debt | - | |||||||||||||||||||
Net income (loss) | (8,124) | (8,124) | ||||||||||||||||||
Balance, June 30, 2022 | 9,734,459 | $ | 97 | 68,000 | $ | 1 | $ | 5,596,733 | $ | (6,039,358) | $ | (442,527) |
The accompanying notes are an integral part of these condensed financial statements. Share counts prior to July 27, 2017 have been split adjusted 1000 to 1.
Page 4
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Broadside Enterprises Inc. published this content on 16 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 August 2022 20:53:05 UTC.
