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
12/31/2019
12/31/2018
9/30/2017
9/30/2016
9/30/2015
9/30/2014
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments51065441275
Cash and cash equivalents51065441275
Receivables232    
Prepaid expense2726865 3 
Other undisclosed current assets   125  
Total current assets:34391525026575
Noncurrent Assets
Long-term investments and receivables   1   
Long-term investments   1   
Intangible assets, net (including goodwill)613613     
Goodwill613613     
Other undisclosed noncurrent assets(613)(613) 4  74
Total noncurrent assets:   5  74
TOTAL ASSETS:343915255265149
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:11224917763433818288
Accrued liabilities   535  
Employee-related liabilities 219     
Interest and dividends payable   37   
Other undisclosed accounts payable and accrued liabilities1123017754433318288
Debt1,7281,072671100488555
Due to related parties94 8517610 
Disposal group, including discontinued operation 601637    
Other undisclosed current liabilities   9575  
Total current liabilities:1,8491,9261,484913636277142
Noncurrent Liabilities
Long-term debt and lease obligation   469  
Long-term debt, excluding current maturities   469  
Other undisclosed noncurrent liabilities   209169  
Total noncurrent liabilities:   255178  
Other undisclosed liabilities903219     
Total liabilities:2,7522,1441,4841,167814277142
Stockholders' equity
Stockholders' equity attributable to parent, including:(2,717)(2,106)(1,332)(1,112)(788)(272)7
Common stock55538313010
Common stock, value, subscriptions     218 
Additional paid in capital1571771775,445393132153
Accumulated deficit(3,080)(2,288)(1,514)(6,606)(1,212)(652)(156)
Other undisclosed stockholders' equity attributable to parent2011110   
Total stockholders' equity:(2,717)(2,106)(1,332)(1,112)(788)(272)7
TOTAL LIABILITIES AND EQUITY:343915255265149

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

12/31/2020
12/31/2019
12/31/2018
9/30/2017
9/30/2016
9/30/2015
9/30/2014
Revenues12151712 12
Revenue, net   12
Net investment income   12  
Cost of revenue(4)(13)(7)   (10)
Cost of goods and services sold  (7)   (10)
Gross profit:721012 3
Operating expenses(674)(808)(697)(4,221)(471)(491)(147)
Other undisclosed operating income (loss)40  (1)(2)  
Operating loss:(626)(807)(688)(4,221)(471)(491)(145)
Nonoperating income40 173751   
Debt instrument, convertible, beneficial conversion feature  173751   
Other nonoperating income40      
Interest and debt expense89  (664)(21)(6)(11)
Loss from continuing operations before equity method investments, income taxes:(497)(807)(515)(4,134)(493)(497)(156)
Other undisclosed loss from continuing operations before income taxes(130) (173)(1,260)(67)  
Loss from continuing operations:(626)(807)(688)(5,394)(559)(497)(156)
Income (loss) from discontinued operations(165)33(671)    
Net loss available to common stockholders, diluted:(792)(774)(1,359)(5,394)(559)(497)(156)

Comprehensive Income ($ in thousands)

12/31/2020
12/31/2019
12/31/2018
9/30/2017
9/30/2016
9/30/2015
9/30/2014
Net loss:(792)(774)(1,359)(5,394)(559)(497)(156)
Comprehensive loss, net of tax, attributable to parent:(792)(774)(1,359)(5,394)(559)(497)(156)

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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