Gulf West Security Network, Inc. (GWSN) Financial Statements (2024 and earlier)
Company Profile
| Business Address |
2851 JOHNSON STREET, UNIT #194, LAFAYETTE, LA 70503 |
| State of Incorp. | NV |
| Fiscal Year End | December 31 |
| Industry (SIC) | 7381 - Detective, Guard, and Armored Car Services (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) (USD)
| 9/30/2022 MRQ | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 9/30/2017 | 9/30/2016 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 14,145 | 4,505 | 10,045 | 64,798 | 44,123 | 1,086 | |||
| Cash and cash equivalents | 14,145 | 4,505 | 10,045 | 64,798 | 44,123 | 1,086 | |||
| Receivables | 5,442 | 2,478 | 2,876 | 1,906 | |||||
| Prepaid expense | 27,888 | 27,396 | 25,987 | 85,560 | 5,000 | ||||
| Other undisclosed current assets | 1,090 | 25,241 | |||||||
| Total current assets: | 47,475 | 34,379 | 38,908 | 152,264 | 50,213 | 26,327 | |||
| Noncurrent Assets | |||||||||
| Long-term investments and receivables | 1,090 | ||||||||
| Long-term investments | 1,090 | ||||||||
| Intangible assets, net (including goodwill) | 612,771 | 612,771 | 612,771 | ||||||
| Goodwill | 612,771 | 612,771 | 612,771 | ||||||
| Other undisclosed noncurrent assets | (612,771) | (612,771) | (612,771) | 3,781 | |||||
| Total noncurrent assets: | 4,871 | ||||||||
| TOTAL ASSETS: | 47,475 | 34,379 | 38,908 | 152,264 | 55,084 | 26,327 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities, including: | 112,377 | 112,235 | 248,888 | 176,611 | 633,689 | 338,159 | |||
| Interest and dividends payable | ✕ | 36,508 | |||||||
| Employee-related liabilities | ✕ | 218,805 | |||||||
| Accrued liabilities | 53,200 | 5,038 | |||||||
| Other undisclosed accounts payable and accrued liabilities | 112,377 | 112,235 | 30,083 | 176,611 | 543,981 | 333,121 | |||
| Debt | 1,875,436 | 1,728,166 | 1,072,050 | 671,000 | 99,500 | 47,885 | |||
| Disposal group, including discontinued operation | 601,128 | 636,561 | |||||||
| Due to related parties | 6,817 | 8,584 | 3,565 | 84,500 | 175,700 | ||||
| Other undisclosed current liabilities | 94,940 | 74,500 | |||||||
| Total current liabilities: | 1,994,630 | 1,848,985 | 1,925,631 | 1,484,172 | 912,629 | 636,244 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 46,054 | 8,545 | |||||||
| Long-term debt, excluding current maturities | 46,054 | 8,545 | |||||||
| Other undisclosed noncurrent liabilities | 208,706 | 169,221 | |||||||
| Total noncurrent liabilities: | 254,760 | 177,766 | |||||||
| Other undisclosed liabilities | 1,061,714 | 902,792 | 218,805 | ||||||
| Total liabilities: | 3,056,344 | 2,751,777 | 2,144,436 | 1,484,172 | 1,167,389 | 814,010 | |||
| Equity | |||||||||
| Equity, attributable to parent, including: | (3,008,869) | (2,717,398) | (2,105,528) | (1,331,908) | (1,112,305) | (787,683) | |||
| Common stock | 23 | 4,618 | 4,518 | 4,518 | 37,797 | 31,086 | |||
| Additional paid in capital | 161,803 | 157,208 | 177,210 | 177,210 | 5,445,385 | 392,739 | |||
| Accumulated deficit | (3,371,331) | (3,079,860) | (2,288,000) | (1,514,379) | (6,605,605) | (1,211,508) | |||
| Other undisclosed equity, attributable to parent | 200,636 | 200,636 | 744 | 743 | 10,118 | ||||
| Total equity: | (3,008,869) | (2,717,398) | (2,105,528) | (1,331,908) | (1,112,305) | (787,683) | |||
| TOTAL LIABILITIES AND EQUITY: | 47,475 | 34,379 | 38,908 | 152,264 | 55,084 | 26,327 | |||
Income Statement (P&L) (USD)
| 9/30/2022 TTM | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 9/30/2017 | 9/30/2016 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 9,980 | 11,690 | 14,601 | 16,530 | 667 | 2,469 | ||
| Net investment income | 667 | 2,469 | ||||||
| Cost of revenue | (3,641) | (4,339) | (12,848) | (6,880) | ||||
| Cost of goods and services sold | (6,880) | |||||||
| Gross profit: | 6,339 | 7,351 | 1,753 | 9,650 | 667 | 2,469 | ||
| Operating expenses | (385,474) | (673,965) | (808,441) | (697,176) | (4,220,623) | (471,262) | ||
| Other undisclosed operating income (loss) | (12,111) | 40,245 | (667) | (2,469) | ||||
| Operating loss: | (391,246) | (626,369) | (806,688) | (687,526) | (4,220,623) | (471,262) | ||
| Nonoperating income (expense) | (12,111) | 40,245 | 172,532 | 750,545 | ||||
| Debt instrument, convertible, beneficial conversion feature | 172,532 | 750,545 | ||||||
| Other nonoperating income (expense) | (12,111) | 40,245 | ||||||
| Interest and debt expense | (12,111) | 89,475 | (664,191) | (21,280) | ||||
| Loss from continuing operations before equity method investments, income taxes: | (415,468) | (496,649) | (806,688) | (514,994) | (4,134,269) | (492,542) | ||
| Other undisclosed income (loss) from continuing operations before income taxes | 24,222 | (129,720) | (172,532) | (1,259,828) | (66,727) | |||
| Loss from continuing operations before income taxes: | (391,246) | (626,369) | (806,688) | (687,526) | (5,394,097) | (559,269) | ||
| Other undisclosed income from continuing operations | 782,492 | |||||||
| Income (loss) from continuing operations: | 391,246 | (626,369) | (806,688) | (687,526) | (5,394,097) | (559,269) | ||
| Income (loss) before gain (loss) on sale of properties: | ✕ | 291,471 | (791,860) | (773,620) | (1,358,550) | (5,394,097) | (559,269) | |
| Income (loss) from discontinued operations | (99,775) | (165,491) | 33,068 | (671,024) | ||||
| Net income (loss): | 291,471 | (791,860) | (773,620) | (1,358,550) | (5,394,097) | (559,269) | ||
| Other undisclosed net loss attributable to parent | (582,942) | |||||||
| Net loss available to common stockholders, diluted: | (291,471) | (791,860) | (773,620) | (1,358,550) | (5,394,097) | (559,269) | ||
Comprehensive Income (USD)
| 9/30/2022 TTM | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 9/30/2017 | 9/30/2016 | ||
|---|---|---|---|---|---|---|---|---|
| Net income (loss): | 291,471 | (791,860) | (773,620) | (1,358,550) | (5,394,097) | (559,269) | ||
| Comprehensive income (loss), net of tax, attributable to parent: | 291,471 | (791,860) | (773,620) | (1,358,550) | (5,394,097) | (559,269) | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.