Hollywall Entertainment: Financial Statements and Footnotes for the Period Ending December 31, 2021

HOLLYWALL ENTERTAIMENT, INC.

UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD END 12/31/2021

TABLE OF CONTENTS

INDEPENDENT ACCOUNTANT’S REPORT 1

ASSESSMENT 2

INCOME STATEMENT 3

CASH FLOW STATEMENT 4

STATEMENT OF DEFERRED PROFITS 5

FOOTNOTES 6

Consolidated balance sheetsASSETS

Current assets

Cash and cash equivalents

Prepaid expenses

Total current assets

Property and equipment, net

Vehicles, net

Total property, plant and equipment, net

Other non-current assets

Intangible assets, net

Total other non-current assets

LIABILITIES AND EQUITY

Passives

Current liabilities

Accounts payable

Convertible notes payable

Total current liabilities

Commitments and contingencies (note 12)EQUITY

Preferred shares, par value $0.001, 200,000 shares

authorised, 99,391 issued and outstanding

Own shares

Common shares, par value $0.001; 300,000,000 shares

authorized, 91,991,607 and 89,796,284 issued and

TOTAL RESPONSIBILITIES

outstanding as of December 31, 2021 and 2020, respectively

Ordinary shares to be issued

Premium

Accumulated deficit

Full shareholder equity

TOTAL ASSETS

TOTAL LIABILITIES AND EQUITY

$

31/12/2021

31/12/2020

128,318

44,948

1,128,090

2,039,000

1,256,408

2,083,948

46,261

51 104

46,261

51 104

17 122 222

21,588,889

17 122 222

21,588,889

$

18,424,891

From

$

$

$

$45,523 305,000

23,723,941

26,228 –

350 523 26 228

350 523 26 228

99 (7000)

91 991

1,023,168

67,016,754

(50,050,644)

17,828,558

$

99 (7000)

89,796

777 358

67 460 568

(44,623,108)

23,697,713

23,723,941

Consolidated Statements of IncomeINCOME

Music licensing revenue

Lobbying revenue

EXPLOITATION CHARGES

Depreciation expense

Executive compensation

General and administrative expenses

Professional fees

Depreciation expense

Other income

Gain on debt forgiveness Other expenses

Interest charges

Provision for income taxes

Total revenueTotal operating expenses

Operating lossOther net income/(expense)

Net lossFor the years ending

31/12/2021

31/12/2020

$

$354,261 247,470 221,102,299 543,575 363,547,013

4,466,667

4,466,667

587,357,475,000

567 156 447 088

376 876 70 612

4,843 19,372

6,002,899 (5,427,536)

– – –

5,478,739 (4,931,726)

39,500

(5,284)

$

34,216 (4,897,510)Basic and diluted loss per share

$

(0.11)

$

(0.10)

Weighted average number of shares outstanding, basic and diluted

47,746,988

47,746,988

Consolidated statement of cash flowsOPERATIONAL ACTIVITIES

Net lossAdjustments to reconcile net loss to net cash provided by operating activities:

Depreciation expense

Depreciation expense

Executive stock-based compensation

Stock-based compensation

Changes in assets and liabilities:

Accounts payable

Accrued expenses Expenses paid in advance

Total adjustments to reconcile net income to net cash

Net cash from operating activities

INVESTMENT ACTIVITIES

Purchase of vehicles

Net cash provided by investing activities

CASH FLOWS FROM FINANCING ACTIVITIES

Proceeds from the issuance of convertible notes payable

For the years ending

31/12/2021

31/12/2020

$

(5,427,536)

4,843 4,466 667

251 061 556 108

(5,000) 96,000

19,295 (25,980)

(621,059)

910 910 5 647 776 220 240

– –

$

(4,897,510)

19,372 4,466,667

4,491,108 (406,401)

– –

305,000

(588,750)Payments on convertible notes payable 805 904

Proceeds from sale of common shares (441,870) 230,250

Net cash provided by financing activities (136,870) 447,404

NON-CASH OPERATING AND FINANCING ACTIVITIES

Common shares issued prior to services

Common shares issued in prior periods (2,795) Common shares issued for accrued expenses

Cancellation of shares 600

(846,000)

(1,440,000)Net change in cash and cash equivalents 83,370 41,003

Cash and cash equivalents, beginning of period 44,948 3,945

Cash and cash equivalents, end of periodAdditional disclosure of cash flow information:

Cash paid for interest

Paid cash for taxes

$

128,318

$44,948

$$

– –$$

– –

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