Gulf West Security Network Inc. (GWSN) financial statements (2021 and earlier)

Company profile

Business Address 2851 JOHNSON STREET, UNIT #194,
LAFAYETTE, LA 70503
State of Incorp. NV
Fiscal Year End December 31
SIC 7381 - Detective, Guard, and Armored Car Services (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in thousands)

12/31/2020
Q4
9/30/2020
Q3
6/30/2020
Q2
3/31/2020
Q1
12/31/2019
Q4
9/30/2019
Q3
6/30/2019
Q2
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments5634102912
Cash and cash equivalents5634102912
Receivables2322322
Inventory, net of allowances, customer advances and progress billings      7
Inventory      7
Prepaid expense27272726263167
Total current assets:34363232396287
Noncurrent Assets
Intangible assets, net (including goodwill)613  613613613 
Goodwill613  613613613 
Other undisclosed noncurrent assets(613)  (613)(613)(613) 
TOTAL ASSETS:34363232396287
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:112138250255249141372
Employee-related liabilities 360307270219197 
Other undisclosed accounts payable and accrued liabilities112(222)(57)(15)30(56)372
Debt1,7281,5651,2831,1231,072951836
Due to related parties991810426 
Disposal group, including discontinued operation 772710572601610642
Total current liabilities:1,8492,4852,2601,9591,9261,7291,851
Noncurrent Liabilities
Other undisclosed liabilities903360307270219197 
Total liabilities:2,7522,8452,5672,2292,1441,9251,851
Stockholders' equity
Stockholders' equity attributable to parent, including:(2,717)(2,810)(2,535)(2,197)(2,106)(1,863)(1,764)
Common stock5255555
Additional paid in capital157157177177177177177
Accumulated deficit(3,080)(2,972)(2,717)(2,380)(2,288)(2,046)(1,946)
Other undisclosed stockholders' equity attributable to parent201311111
Total stockholders' equity:(2,717)(2,810)(2,535)(2,197)(2,106)(1,863)(1,764)
TOTAL LIABILITIES AND EQUITY:34363232396287

Income statement (P&L) ($ in thousands)

12/31/2020
Q4
9/30/2020
Q3
6/30/2020
Q2
3/31/2020
Q1
12/31/2019
Q4
9/30/2019
Q3
6/30/2019
Q2
Revenues333 443
Cost of revenue(1)(1)(1)(1)(1)(7)(3)
Other undisclosed gross profit   3 0 
Gross profit:22223(4)1
Operating expenses(87)(255)(207)(126)(241)(133)(161)
Other undisclosed operating income (loss)(15)55     
Operating loss:(100)(198)(204)(124)(239)(136)(160)
Nonoperating income
(Other Nonoperating income)
40      
Interest and debt expense485     
Loss from continuing operations before equity method investments, income taxes:(55)(113)(204)(124)(239)(136)(160)
Other undisclosed income (loss) from continuing operations before income taxes(1,097)311     
Income (loss) from continuing operations:(1,153)198(204)(124)(239)(136)(160)
Income (loss) from discontinued operations(8)(57)(133)32(4)37(51)
Net income (loss):(1,160)141(337)(92)(242)(99)(211)
Other undisclosed net income (loss) attributable to parent1,053(396)     
Net loss available to common stockholders, diluted:(108)(255)(337)(92)(242)(99)(211)

Comprehensive Income ($ in thousands)

12/31/2020
Q4
9/30/2020
Q3
6/30/2020
Q2
3/31/2020
Q1
12/31/2019
Q4
9/30/2019
Q3
6/30/2019
Q2
Net income (loss):(1,160)141(337)(92)(242)(99)(211)
Comprehensive income (loss), net of tax, attributable to parent:(1,160)141(337)(92)(242)(99)(211)

Statements sources

The financial statements are based on the company's filings with the 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.

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