Gulf West Security Network Inc. (GWSN) financial statements (2020 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)

12/31/2019
12/31/2018
9/30/2017
9/30/2016
9/30/2015
9/30/2014
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments1065441275
Cash and cash equivalents1065441275
Receivables32    
Prepaid expense26865 3 
Other undisclosed current assets  125  
Total current assets:391525026575
Noncurrent Assets
Long-term investments and receivables  1   
Long-term investments  1   
Intangible assets, net (including goodwill)613     
Goodwill613     
Other undisclosed noncurrent assets(613) 4  74
Total noncurrent assets:  5  74
TOTAL ASSETS:3915255265149
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:24917763433818288
Accrued liabilities  535  
Employee-related liabilities219     
Interest and dividends payable  37   
Other undisclosed accounts payable and accrued liabilities3017754433318288
Debt1,072671100488555
Due to related parties4 8517610 
Disposal group, including discontinued operation601637    
Other undisclosed current liabilities  9575  
Total current liabilities:1,9261,484913636277142
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 liabilities219     
Total liabilities:2,1441,4841,167814277142
Stockholders' equity
Stockholders' equity attributable to parent, including:(2,106)(1,332)(1,112)(788)(272)7
Common stock5538313010
Common stock, value, subscriptions    218 
Additional paid in capital1771775,445393132153
Accumulated deficit(2,288)(1,514)(6,606)(1,212)(652)(156)
Other undisclosed stockholders' equity attributable to parent1110   
Total stockholders' equity:(2,106)(1,332)(1,112)(788)(272)7
TOTAL LIABILITIES AND EQUITY:3915255265149

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

12/31/2019
12/31/2018
9/30/2017
9/30/2016
9/30/2015
9/30/2014
Revenues151712 12
Revenue, net   12
Net investment income  12  
Cost of revenue(13)(7)   (10)
Cost of goods and services sold (7)   (10)
Gross profit:21012 3
Operating expenses(808)(697)(4,221)(471)(491)(147)
Other undisclosed operating loss  (1)(2)  
Operating loss:(807)(688)(4,221)(471)(491)(145)
Nonoperating income
(Debt Instrument, Convertible, Beneficial Conversion Feature)
 173751   
Interest and debt expense  (664)(21)(6)(11)
Loss from continuing operations before equity method investments, income taxes:(807)(515)(4,134)(493)(497)(156)
Other undisclosed loss from continuing operations before income taxes (173)(1,260)(67)  
Loss from continuing operations:(807)(688)(5,394)(559)(497)(156)
Income (loss) from discontinued operations33(671)    
Net loss available to common stockholders, diluted:(774)(1,359)(5,394)(559)(497)(156)

Comprehensive Income ($ in thousands)

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