Gulf West Security Network, Inc. (GWSN) Financial Statements (2023 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) ($ in thousands)

9/30/2021
TTM
12/31/2020
12/31/2019
12/31/2018
9/30/2017
9/30/2016
9/30/2015
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments 510654412
Cash and cash equivalents 510654412
Receivables 232   
Prepaid expense 2726865 3
Other undisclosed current assets    125 
Total current assets: 343915250265
Noncurrent Assets
Long-term investments and receivables    1  
Long-term investments    1  
Intangible assets, net (including goodwill) 613613    
Goodwill 613613    
Other undisclosed noncurrent assets (613)(613) 4  
Total noncurrent assets:    5  
TOTAL ASSETS: 343915255265
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including: 112249177634338182
Accrued liabilities    535 
Employee-related liabilities  219    
Interest and dividends payable    37  
Other undisclosed accounts payable and accrued liabilities 11230177544333182
Debt 1,7281,0726711004885
Due to related parties 94 8517610
Disposal group, including discontinued operation  601637   
Other undisclosed current liabilities    9575 
Total current liabilities: 1,8491,9261,484913636277
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 liabilities 903219    
Total liabilities: 2,7522,1441,4841,167814277
Stockholders' equity
Stockholders' equity attributable to parent, including: (2,717)(2,106)(1,332)(1,112)(788)(272)
Common stock 555383130
Common stock, value, subscriptions      218
Additional paid in capital 1571771775,445393132
Accumulated deficit (3,080)(2,288)(1,514)(6,606)(1,212)(652)
Other undisclosed stockholders' equity attributable to parent 2011110  
Total stockholders' equity: (2,717)(2,106)(1,332)(1,112)(788)(272)
TOTAL LIABILITIES AND EQUITY: 343915255265

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

9/30/2021
TTM
12/31/2020
12/31/2019
12/31/2018
9/30/2017
9/30/2016
9/30/2015
Revenues 12151712 
Net investment income    12 
Cost of revenue (4)(13)(7)   
Cost of goods and services sold   (7)   
Gross profit: 721012 
Operating expenses (674)(808)(697)(4,221)(471)(491)
Other undisclosed operating income (loss) 40  (1)(2) 
Operating loss: (626)(807)(688)(4,221)(471)(491)
Nonoperating income 40 173751  
Debt instrument, convertible, beneficial conversion feature   173751  
Other nonoperating income 40     
Interest and debt expense 89  (664)(21)(6)
Loss from continuing operations before equity method investments, income taxes: (497)(807)(515)(4,134)(493)(497)
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)
Income (loss) from discontinued operations (165)33(671)   
Net loss available to common stockholders, diluted: (792)(774)(1,359)(5,394)(559)(497)

Comprehensive Income ($ in thousands)

9/30/2021
TTM
12/31/2020
12/31/2019
12/31/2018
9/30/2017
9/30/2016
9/30/2015
Net loss: (792)(774)(1,359)(5,394)(559)(497)
Comprehensive loss, net of tax, attributable to parent: (792)(774)(1,359)(5,394)(559)(497)

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.

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