0001493152-17-010080.txt : 20170831 0001493152-17-010080.hdr.sgml : 20170831 20170830214255 ACCESSION NUMBER: 0001493152-17-010080 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 33 CONFORMED PERIOD OF REPORT: 20170731 FILED AS OF DATE: 20170831 DATE AS OF CHANGE: 20170830 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Goliath Film & Media Holdings CENTRAL INDEX KEY: 0000820771 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-MOTION PICTURE & VIDEO TAPE DISTRIBUTION [7822] IRS NUMBER: 272895668 FISCAL YEAR END: 0228 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 000-18945 FILM NUMBER: 171061934 BUSINESS ADDRESS: STREET 1: 640 S SAN VICENTE BOULEVARD STREET 2: FIFTH FLOOR CITY: LOS ANGELES STATE: CA ZIP: 90048 BUSINESS PHONE: 2135375730 MAIL ADDRESS: STREET 1: 640 S SAN VICENTE BOULEVARD STREET 2: FIFTH FLOOR CITY: LOS ANGELES STATE: CA ZIP: 90048 FORMER COMPANY: FORMER CONFORMED NAME: CHINA ADVANCED TECHNOLOGY DATE OF NAME CHANGE: 20110531 FORMER COMPANY: FORMER CONFORMED NAME: CHINA ADVANCED TECHOLOGY DATE OF NAME CHANGE: 20100622 FORMER COMPANY: FORMER CONFORMED NAME: WESTMARK GROUP HOLDINGS INC DATE OF NAME CHANGE: 19940808 10-Q 1 form10-q.htm

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

 

 

 

FORM 10-Q

 

 

 

[X] QUARTERLY REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES AND EXCHANGE ACT OF 1934

 

For the quarterly period ended July 31, 2017

 

[  ] TRANSITION REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

For the transition period from _________ to _________ Commission File Number 000-18945

 

GOLIATH FILM AND MEDIA HOLDINGS

(Exact name of registrant as specified in its charter)

 

Nevada   84-1055077
(State or other jurisdiction of incorporation or organization)   (I.R.S. Employer Identification Number)

 

4640 Admiralty Way, Suite 500, Marina del Rey, California   90292
 (Address of principal executive offices)   (Zip Code)

 

Registrant’s telephone number (909) 612-1708

 

Indicate by check mark whether registrant (1) has filed all reports to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. [X] Yes [  ] No

 

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). [X] Yes [  ] No

 

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer,” and “smaller reporting company” in Rule 12b-2 of the Exchange Act (Check one):

 

Large accelerated filer [  ] Accelerated filer [  ]
Non-accelerated filer (Do not check if smaller reporting company) [  ] Smaller reporting company [X]
Emerging growth company [  ]    

 

If an emerging growth company, indicate by check mark if the Registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards pursuant to Section 13(a) of the Exchange Act. [  ]

 

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes [  ] No [X]

 

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date.

 

There were 174,625,386 shares of common stock issued and outstanding as of August 31, 2017.

 

 

 

 
  

 

GOLIATH FILM AND MEDIA HOLDINGS

 

  Page(s)
PART I – FINANCIAL INFORMATION  
   
Item 1. Financial Statements 3
   
Condensed Consolidated Balance Sheets as of July 31, 2017 (unaudited) and April 30, 2016 4
   
Condensed Consolidated Statements of Operations for the three months ended July 31, 2017 and 2016 (unaudited) 5
   
Condensed Consolidated Statements of Cash Flows for the three months ended July 31, 2017 and 2016 (unaudited) 6
   
Notes to the Condensed Consolidated Financial Statements (unaudited) 7
   
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations 14
   
Item 3. Quantitative and Qualitative Disclosures About Market Risk 23
   
Item 4. Controls and Procedures 23
   

PART II – OTHER INFORMATION 

 
   
Item 1. Legal Proceedings 24
   
Item 1A. Risk Factors 24
   
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 24
   
Item 3. Defaults Upon Senior Securities 24
   
Item 4. Mine Safety Disclosures 24
   
Item 5. Other Information 24
   
Item 6. Exhibits 24
   
Signatures 25

 

  2 

 

 

PART I – FINANCIAL INFORMATION

 

Item 1. Financial Statements. 

 

The accompanying unaudited financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and in accordance with the instructions for Form 10-Q. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements.

 

In the opinion of management, the financial statements contain all material adjustments, consisting only of normal recurring adjustments necessary to present fairly the financial condition, results of operations, and cash flows of the Company for the interim periods presented.

 

The results for the periods ended July 31, 2017 are not necessarily indicative of the results of operations for the full year.

 

  3 

 

 

GOLIATH FILM AND MEDIA HOLDINGS

CONDENSED CONSOLIDATED BALANCE SHEETS

 

   July 31, 2017   April 30, 2017 
   (unaudited)     
ASSETS          
Current assets          
Cash  $655   $2,468 
Prepaid expenses   299    299 
Total current assets   954    2,767 
           
Long-term assets          
Other assets   15,000    15,000 
Film production costs, net   351,607    351,607 
Total long-term assets   366,607    366,607 
           
Total assets  $367,561   $369,374 
           
LIABILITIES AND STOCKHOLDERS’ EQUITY          
           
Current liabilities          
Accounts payable and accrued expenses  $23,988   $23,988 
Total current liabilities   23,988    23,988 
           
Total liabilities   23,988    23,988 
           
Stockholders’ equity          
Preferred stock, $0.001 par value, 1,000,000 shares authorized; no shares issued and outstanding at July 31, 2017 and April 30, 2017        
          
Common stock, $0.001 par value, 300,000,000 shares authorized; 174,625,386 and 174,625,386 shares issued and outstanding, at July 31, 2017 and April 30, 2017   174,626    174,626 
Additional paid in capital   772,444    772,444 
Accumulated deficit   (603,497)   (601,684)
Total stockholders’ equity   343,573    345,386 
           
Total liabilities and stockholders’ equity  $367,561   $369,374 

 

See accompanying notes to unaudited condensed consolidated financial statements.

 

  4 

 

 

GOLIATH FILM AND MEDIA HOLDINGS

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(unaudited)

 

   For the Three Months Ended, 
   July 31, 2017   July 31, 2016 
         
Film production revenues  $   $125,000 
Cost of sales       66,812 
Gross profit       58,188 
           
Operating expenses          
General and administrative   1,813    9,900 
Total operating expenses   1,813    9,900 
           
Income (loss) from operations   (1,813)   48,288 
           
Income (loss) before income taxes   (1,813)   48,288 
           
Provision for income taxes       (330)
           
Net income (loss)  $(1,813)  $47,958 
           
Net income (loss) per share of common stock:          
Basic and diluted  $(0.00)  $0.00 
           
Weighted average shares          
Outstanding – basic and diluted   174,625,386    163,421,308 

 

See accompanying notes to unaudited condensed consolidated financial statements.

 

  5 

 

 

GOLIATH FILM AND MEDIA HOLDINGS

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(unaudited)

 

   For the Three Months Ended, 
   July 31, 2017   July 31, 2016 
         
Cash flows from operating activities          
Net income (loss)  $(1,813)  $47,958 
Changes in operating assets and liabilities:          
Film production costs       (147,292 
Accounts payable       (6,670)
Net cash used in operating activities   (1,813)   (106,004)
           
Cash flows from investing activities          
None        
Net cash provided by investing activities        
           
Cash flows from financing activities          
Proceeds from issuance of common stock       98,320 
Line of credit       242 
Net cash provided by financing activities       98,562 
           
Net change in cash   (1,813)   (7,442)
Cash at beginning of period   2,468    25,310 
Cash at end of period  $655   $17,868 
           
Supplemental disclosure of non-cash investing and financing activities:          
None  $   $ 
Supplemental disclosure of cash flow information:          
Cash paid for interest  $   $ 
Cash paid for taxes  $   $ 

 

See accompanying notes to unaudited condensed consolidated financial statements

 

  6 

 

 

GOLIATH FILM AND MEDIA HOLDINGS

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE THREE MONTHS ENDED JULY 31, 2017 AND 2016

 

NOTE 1 – CONDENSED FINANCIAL STATEMENTS

 

The accompanying financial statements have been prepared by the Company without audit. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position, results and operations and cash flows at July 31, 2017 and for all periods presented herein, have been made.

 

Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted. It is suggested that these condensed financial statements be read in conjunction with the financial statements and notes thereto included in the Company’s April 30, 2017 and 2016 audited financial statements filed on Form 10K on August 15, 2017. The results of operations for the periods ended July 31, 2017 and 2016 are not necessarily indicative of the operating results for the full years.

 

NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

 

Organization, Nature of Business and Trade Name

 

On October 31, 2011 (the “Closing Date”), China Advanced Technology acquired Goliath Film and Media International, a California corporation, by issuing 47,000,000 shares of its Common Stock, constituting 70.1% of the outstanding shares after giving effect to their issuance and the cancellation of 15,619,816 shares held by China Advanced Technology’s prior control person. Immediately following the Closing, 67,100,000 shares were issued and outstanding. On the Closing Date, the name of China Advanced Technology was changed to Goliath Film and Media Holdings (“Goliath”, “GFMH”, or “the Company”). All share numbers herein have been adjusted for an eight-for-1 forward stock split affected as of the Closing Date. The forward stock split was reflected in the trading market on February 13, 2012. The transaction was accounted for as a reverse acquisition in which Goliath Film and Media International is deemed to be the accounting acquirer, and the prior operations of Goliath (formerly China Advanced Technology) are consolidated for accounting purposes. Since Goliath had no operations, assets, or liabilities as of the Closing, no audit of that entity was required under the materiality thresholds of Regulation S-X Rule 8-04.

 

The Company is engaged in the distribution of motion pictures and digital content.

 

Principles of Consolidation

 

The accompanying consolidated financial statements include the accounts of the Company and its subsidiaries. All intercompany accounts and transactions have been eliminated.

 

Basis of Presentation

 

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reported period. Actual results could differ from those estimates. Management further acknowledges that it is solely responsible for adopting sound accounting practices, establishing and maintaining a system of internal accounting control and preventing and detecting fraud. The Company’s system of internal accounting control is designed to assure, among other items, that (1) recorded transactions are valid; (2) all valid transactions are recorded and (3) transactions are recorded in the period in a timely manner to produce financial statements which present fairly the financial condition, results of operations and cash flows of the company for the respective periods being presented.

 

Use of Estimates

 

The preparation of financial statements in accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. A change in managements’ estimates or assumptions could have a material impact on the Company’s financial condition and results of operations during the period in which such changes occurred.

 

  7 

 

 

GOLIATH FILM AND MEDIA HOLDINGS

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE THREE MONTHS ENDED JULY 31, 2017 AND 2016

 

Actual results could differ from those estimates. The Company’s financial statements reflect all adjustments that management believes are necessary for the fair presentation of their financial condition and results of operations for the periods presented.

 

Accounts Receivable

 

Accounts receivable, if any are carried at the expected net realizable value. The allowance for doubtful accounts, when determined, will be based on management’s assessment of the collectability of specific customer accounts and the aging of the accounts receivables. If there were a deterioration of a major customer’s creditworthiness, or actual defaults were higher than historical experience, our estimates of the recoverability of the amounts due to us could be overstated, which could have a negative impact on operations.

 

The Company currently does not have any accounts receivable. The above accounting policies will be adopted upon the Company carrying accounts receivable.

 

Films and Televisions Costs

 

The Company capitalizes production costs for films produced in accordance with ASC 926-20, “Entertainment-Films - Other Assets - Film Costs”. Accordingly, production costs are capitalized at actual cost and then charged against revenue quarterly as a cost of production based on the relative fair value of the film(s) delivered and recognized as revenue. The Company evaluates its capitalized production costs annually and limits recorded amounts by its ability to recover such costs through expected future sales. There was an impairment charge of $44,918 for fiscal year ending April 30, 2017. There was no amortization expense or impairment for the three months ended July 31, 2017 and 2016, respectively.

 

Film production costs include the unamortized costs of films in progress which are being produced by the Company.

 

For films produced by the Company, capitalized costs include all direct production costs, and production overhead.

 

Costs of producing films are amortized using the individual-film-forecast method, whereby these costs are amortized and participations and residuals costs are accrued in the proportion that current year’s revenue bears to management’s estimate of ultimate revenue at the beginning of the current year expected to be recognized from the exploitation, exhibition or sale of the films. Ultimate revenue includes estimates over a period not to exceed ten years following the date of initial release of the motion picture.

 

Film production costs are stated at the lower of amortized cost or estimated fair value. The valuation of film production costs are reviewed on a title-by-title basis, when an event or change in circumstances indicates that the fair value of a film is less than its unamortized cost. During the three months ended July 31, 2017 and 2016, the Company recorded no impairment charges.

 

Revenue Recognition

 

We recognize revenues in accordance with ASC 926-605, “Entertainment Films, Revenue Recognition”.

 

Under ASC 926-605, five conditions must be met before revenue can be recognized: (i) there is persuasive evidence that an arrangement exists, (ii) the film is complete and has been delivered, (iii) the license period has begun, (iv) the price is fixed or determinable, and (v) collection is reasonably assured. The Company provides for an allowance for doubtful account based history and experience considering economic and industry trends. The Company does not have any off-Balance Sheet exposure related to its customers.

 

The Company recognizes revenue when the distributor confirms to the Company that the film has been delivered to the distributor with all technical and document deliveries received, waived or deferred and the film has been entered into the distributor’s rights system.

 

  8 

 

 

GOLIATH FILM AND MEDIA HOLDINGS

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE THREE MONTHS ENDED JULY 31, 2017 AND 2016

 

Advertising

 

Advertising expenses are recorded as general and administrative expenses when they are incurred. There was no advertising expense for the three months ended July 31, 2017 and 2016, respectively.

 

Research and Development

 

All research and development costs are expensed as incurred. There was no research and development expense for the three months ended July 31, 2017 and 2016, respectively.

 

Income tax

 

We account for income taxes under the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) No. 740, Income Taxes (“ASC 740”). Under ASC 740, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Under ASC 740, the effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date.

 

Fair Value of Financial Instruments

 

The Company follows the provisions of ASC 820. This Topic defines fair value, establishes a measurement framework and expands disclosures about fair value measurements.

 

The Company uses fair value measurements for determining the valuation of derivative financial instruments payable in shares of its common stock. This primarily involves option pricing models that incorporate certain assumptions and projections to determine fair value. These require management’s judgment.

 

Fair Value Measurements

 

FASB ASC Topic 825, Financial Instruments, requires disclosures about fair value of financial instruments in quarterly reports as well as in annual reports. For the Company, this statement applies to certain investments and long-term debt. Also, the FASB ASC Topic 820, Fair Value Measurements and Disclosures, clarifies the definition of fair value for financial reporting, establishes a framework for measuring fair value and requires additional disclosures about the use of fair value measurements.

 

Various inputs are considered when determining the value of the Company’s investments and long-term debt. The inputs or methodologies used for valuing securities are not necessarily an indication of the risk associated with investing in these securities. These inputs are summarized in the three broad levels listed below.

 

Level 1 – observable market inputs that are unadjusted quoted prices for identical assets or liabilities in active markets.
   
Level 2 – other significant observable inputs (including quoted prices for similar securities, interest rates, credit risk, etc.).
   
Level 3 – significant unobservable inputs (including the Company’s own assumptions in determining the fair value of investments).

 

The Company’s adoption of FASB ASC Topic 825 did not have a material impact on the Company’s consolidated financial statements.

 

  9 

 

 

GOLIATH FILM AND MEDIA HOLDINGS

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE THREE MONTHS ENDED JULY 31, 2017 AND 2016

 

The carrying value of financial assets and liabilities recorded at fair value is measured on a recurring or nonrecurring basis. Financial assets and liabilities measured on a non-recurring basis are those that are adjusted to fair value when a significant event occurs. The Company had no financial assets or liabilities carried and measured on a nonrecurring basis during the reporting periods. Financial assets and liabilities measured on a recurring basis are those that are adjusted to fair value each time a financial statement is prepared. The Company had no financial assets and/or liabilities carried at fair value on a recurring basis at July 31, 2017, assets and liabilities approximate fair value due to their short term nature.

 

The availability of inputs observable in the market varies from instrument to instrument and depends on a variety of factors including the type of instrument, whether the instrument is actively traded, and other characteristics particular to the transaction. For many financial instruments, pricing inputs are readily observable in the market, the valuation methodology used is widely accepted by market participants, and the valuation does not require significant management discretion. For other financial instruments, pricing inputs are less observable in the market and may require management judgment. As of July 31, 2017, the Company had no assets other than prepaid expenses, cash, and capitalized film production costs.

 

Basic and diluted earnings per share

 

Basic earnings per share are based on the weighted-average number of shares of common stock outstanding. Diluted Earnings per share is based on the weighted-average number of shares of common stock outstanding adjusted for the effects of common stock that may be issued as a result of the following types of potentially dilutive instruments:

 

Warrants,
   
Employee stock options, and
   
Other equity awards, which include long-term incentive awards.

 

The FASB ASC Topic 260, Earnings Per Share, requires the Company to include additional shares in the computation of earnings per share, assuming dilution.

 

Diluted earnings per share is based on the assumption that all dilutive options were converted or exercised. Dilution is computed by applying the treasury stock method. Under this method, options are assumed to be exercised at the time of issuance, and as if funds obtained thereby were used to purchase common stock at the average market price during the period.

 

Basic and diluted earnings per share are the same as there were no potentially dilutive instruments for the three months ended July 31, 2017 and 2016, respectively.

 

Concentrations, Risks, and Uncertainties

 

The Company had one customer, Mar Vista Entertainment, that accounted for 100% of total revenue. The Company had no customers in the three months ended July 31, 2017 that accounted for 10% or more of total revenue.

 

Stock Based Compensation

 

In accordance with ASC No. 718, Compensation – Stock Compensation (“ASC 718”), we measure the compensation costs of share-based compensation arrangements based on the grant-date fair value and recognize the costs in the financial statements over the period during which employees are required to provide services. Share-based compensation arrangements include stock options, restricted share plans, performance-based awards, share appreciation rights and employee share purchase plans. As such, compensation cost is measured on the date of grant at their fair value. Such compensation amounts, if any, are amortized over the respective vesting periods of the option grant. We apply this statement prospectively. Equity instruments (“instruments”) issued to other than employees are recorded on the basis of the fair value of the instruments, as required by ASC 718. ASC No. 505, Equity Based Payments to Non-Employees (“ASC 505”) defines the measurement date and recognition period for such instruments. In general, the measurement date is (a) when a performance commitment, as defined, is reached or (b) when the earlier of (i) the non-employee performance is complete or (ii) the instruments are vested. The measured value related to the instruments is recognized over a period based on the facts and circumstances of each particular grant as defined in the ASC 505.

 

  10 

 

 

GOLIATH FILM AND MEDIA HOLDINGS

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE THREE MONTHS ENDED JULY 31, 2017 AND 2016

 

Accounting for Derivative Financial Instruments

 

We evaluate financial instruments using the guidance provided by ASC 815 and apply the provisions thereof to the accounting of items identified as derivative financial instruments not indexed to our stock.

 

NOTE 3 – RECENTLY ENACTED ACCOUNTING STANDARDS

 

The Company does not expect the adoption of any other recent accounting pronouncements to have a material impact on its financial statements.

 

NOTE 4 – FILM PRODUCTION AGREEMENTS

 

On March 4, 2016, we signed a distribution agreement with Mar Vista Entertainment, LLC to distribute a feature length motion picture currently completed. Per the agreement, we will receive $125,000 in advance payments per an agreed delivery schedule for providing distribution rights on the motion picture “Bridal Bootcamp” a romantic comedy movie produced by Goliath for delivery to Mar Vista Entertainment LLC for distribution. Additionally, Mar Vista Entertainment, LLC will receive 35% of the gross proceeds for a period of 25 years on the motion picture. As of October 31, 2016, the Company has received $125,000 of the advance payments. Bridal Boot Camp was completed in October 2016 resulting in the recognition of the advance payments as revenue of $125,000 in October 2016. Mar Vista is distributing this film.

 

On September 18, 2015, we signed a distribution agreement with Mar Vista Entertainment, LLC to distribute a feature length motion picture currently completed. Per the agreement, we will receive $125,000 in advance payments per an agreed delivery schedule for providing distribution rights on the motion picture “Merry Exes” retitled “Girlfriends of Christmas Past” a Christmas holiday movie produced by Goliath and delivered to Mar Vista Entertainment LLC. for distribution. Additionally, Mar Vista Entertainment, LLC will receive 35% of the gross proceeds for a period of 25 years on the motion picture. As of July 31, 2016, we have received $125,000 of the advance payments. “Merry Exes/” “Girlfriends of Christmas Past was completed June 6, 2016 resulting in the recognition of the advance payments as revenue of $125,000 in June 2016. Mar Vista distributed this movie to UPTV.

 

On May 20, 2015, we signed a distribution agreement with Mar Vista Entertainment, LLC to distribute a feature length motion picture currently completed by us and being licensed by Mar Vista Entertainment, LLC. Per the agreement, we will receive $175,000 in advance payments per an agreed delivery schedule for providing distribution rights on the motion picture “Terror Birds” a science fiction movie produced by Goliath and delivered to Mar Vista Entertainment LLC. for distribution. Additionally, Mar Vista Entertainment, LLC will receive 30% of the gross proceeds for a period of 25 years on the film. As of April 30, 2016, the Company had received $175,000 of the advance payments. Terror Birds was completed December 14, 2015 resulting in the recognition of the advance payments as revenue of $175,000 in February 2016. Mar Vista is continuing to distribute this film.

 

On April 15, 2015 Goliath signed an agreement whereby the Company agreed to invest $15,000 to KKO Productions to produce a feature length motion picture known as “Forgiven”. Per the agreement Goliath will receive 15% of adjusted gross proceeds after its initial investment has been entirely recouped through adjusted gross proceeds. Additionally, the Company received two on screen credits as Executive Producer as well as receiving credit on all advertising, publicity and packaging of the motion picture. The investment of $15,000 presented in other assets on the balance sheet has not yet been repaid, due to the fact that no revenues will be generated until this motion picture’s released.

 

NOTE 5 – COMMON STOCK

 

The Company has authorized 1,000,000 shares of preferred stock, $0.001 par value, with such rights, preferences and designation and to be issued in such series as determined by the Board of Directors. No shares of preferred stock are issued and outstanding at July 31, 2017 and April 30, 2017.

 

The Company has authorized 300,000,000 shares of par value $0.001 common stock, of which 174,625,836 and 174,625,836 shares are outstanding at July 31, 2017 and April 30, 2017, respectively. The Company has not yet issued 35,660,469 common shares to a related party affiliate.

 

During the three months ended July 31, 2017, the Company did not enter into any private placement memorandums.

 

  11 

 

 

GOLIATH FILM AND MEDIA HOLDINGS

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE THREE MONTHS ENDED JULY 31, 2017 AND 2016

 

NOTE 6 – GOING CONCERN

 

The Company’s financial statements are prepared using accounting principles generally accepted in the United States of America applicable to a going concern, which contemplates the realization of assets and liquidation of liabilities in the normal course of business. However, the Company does not have significant cash or other current assets, nor does it have an established source of revenues sufficient to cover its operating costs and to allow it to continue as a going concern.

 

Under the going concern assumption, an entity is ordinarily viewed as continuing in business for the foreseeable future with neither the intention nor the necessity of liquidation, ceasing trading, or seeking protection from creditors pursuant to laws or regulations. Accordingly, assets and liabilities are recorded on the basis that the entity will be able to realize its assets and discharge its liabilities in the normal course of business.

 

The ability of the Company to continue as a going concern is dependent upon its ability to successfully accomplish the plan described in the preceding paragraph and eventually attain profitable operations. The accompanying financial statements do not include any adjustments that may be necessary if the Company is unable to continue as a going concern.

 

During the next year, the Company’s foreseeable cash requirements will relate to continual development of the operations of its business, maintaining its good standing and making the requisite filings with the Securities and Exchange Commission, and the payment of expenses associated with reviewing or investigating any potential business ventures. The Company may experience a cash shortfall and be required to raise additional capital.

 

Historically, the Company has relied upon internally generated funds and funds from the sale of shares of stock to finance its operations and growth. Management may raise additional capital through future public or private offerings of the Company’s stock or through loans from private investors, although there can be no assurance that it will be able to obtain such financing. The Company’s failure to do so could have a material and adverse effect upon its and its shareholders.

 

In the past year, the Company funded operations by using cash proceeds received through the issuance of common stock. For the coming year, the Company plans to continue to fund the Company through debt and securities sales and issuances, focus on a possible joint venture or merger until the company generates revenues through the operations of such merged company or joint venture as stated above.

 

NOTE 7 - RELATED PARTY TRANSACTIONS

 

During the three months ended July 31, 2017, the Company did not enter into any private placement memorandums. During the three months ended July 31, 2016, the Company sold 9,832,000 restricted common shares to a related party affiliate shareholder, as a result of being a greater than 10% shareholder, pursuant to a private placement memorandum in exchange for $98,320.

 

In three months ended July 31, 2017 and 2016, the Company paid C&R Film for film production costs and reimbursement of various expenses of $0 and $58,134, respectively. C&R Film is controlled by Lamont Robert, CEO and Acting CFO of the Company.

 

Related party transactions have been disclosed in the other notes to these financial statements.

 

NOTE 8 - COMMITMENTS AND CONTINGENCIES

 

Production Agreements

 

The Company has signed three distribution agreements with Mar Vista Entertainment, LLC to distribute feature length motion pictures. See Note 4.

 

  12 

 

 

GOLIATH FILM AND MEDIA HOLDINGS

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE THREE MONTHS ENDED JULY 31, 2017 AND 2016

 

Legal

 

The Company is not a party to or otherwise involved in any legal proceedings.

 

In the ordinary course of business, from time to time the Company may be involved in various pending or threatened legal actions. The litigation process is inherently uncertain and it is possible that the resolution of such matters might have a material adverse effect upon the Company’s financial condition and/or results of operations. However, in the opinion of management, other than as set forth herein, matters currently pending or threatened against the Company are not expected to have a material adverse effect on its financial position or results of operations.

 

NOTE 9 – SUBSEQUENT EVENTS

 

During the period ended July 31, 2017 there were no subsequent events.

 

  13 

 

  

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations.

 

Forward Looking Statement Notice

 

Certain statements made in this Quarterly Report on Form 10-Q are “forward-looking statements” (within the meaning of the Private Securities Litigation Reform Act of 1995) regarding the plans and objectives of management for future operations. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements of Goliath Film and Media Holdings, (“we”, “us”, “our” or the “Company”) to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. The forward-looking statements included herein are based on current expectations that involve numerous risks and uncertainties. The Company’s plans and objectives are based, in part, on assumptions involving the continued expansion of business. Assumptions relating to the foregoing involve judgments with respect to, among other things, future economic, competitive and market conditions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond the control of the Company. Although the Company believes its assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance the forward-looking statements included in this Quarterly Report will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by the Company or any other person that the objectives and plans of the Company will be achieved.

 

Description of Business

 

Background

 

The Company was incorporated in Nevada on February 16, 2010 under the name “China Advanced Technology” as the successor by merger to Vitalcare Diabetes Treatment Centers, Inc. (“Vitalcare”). In February and March 2010, Vitalcare underwent a holding company reorganization under Delaware law, pursuant to which it became a wholly-owned subsidiary of Vitalcare Holding Corporation, and Vitalcare, together with its assets and liabilities, was sold to a non-affiliated third party. Vitalcare Holding Corporation subsequently reincorporated in Nevada by merger into China Advanced.

 

Vitalcare was in the business of administering medical clinics specializing in diabetes treatment. It was the successor to Network Financial Services, Inc. (“Network”), which went public in an underwritten offering in 1987. Network was engaged in mortgage origination, and changed its name to Westmark Group Holdings (“Westmark”) in 1993 in connection with the acquisition of Westmark Mortgage from Primark Corporation. Westmark ceased operations at some time in 2006, and in 2006 ceased filing reports under the Securities Exchange Act of 1934. The corporate entity was thereafter known as Viking Consolidated, Inc. (2006), Tailor Aquaponics World Wide, Inc. (2007) and Diversified Acquisitions (2007) until it entered the medical clinic business in early 2008. The Company has no information regarding any business activities from 2006 after the mortgage origination business closed, to early 2008.

 

On October 25, 2011, Goliath Film and Media International, a California corporation, entered into an Agreement and Plan of Reorganization (the “Exchange Agreement”), pursuant to which Goliath Film and Media International was acquired by China Advanced Technology. Prior to the acquisition, our principal operations consisted of internet marketing, and were conducted through a wholly owned subsidiary, Live Wise, Inc. Live Wise was disposed of on October 31, 2011 for cancellation of debt and shares described below. At the Closing Date, there were no assets or liabilities on China Advanced Technology’s balance sheets.

 

The transaction closed on October 31, 2011 (the “Closing Date”). On the Closing Date China Advanced Technology acquired Goliath Film and Media International by issuing 47,000,000 shares of its Common Stock, constituting 70.1% of the outstanding shares after giving effect to their issuance and the cancellation of 15,619,816 shares held by China Advanced Technology’s prior control person. Immediately following the Closing, 67,100,000 shares were issued and outstanding. On the Closing Date, the name of China Advanced Technology was changed to Goliath Film and Media Holdings. All share numbers herein have been adjusted for an eight-for-1 forward stock split affected as of the Closing Date. The forward stock split was reflected in the trading market on February 13, 2012.

 

  14 

 

 

Overview

 

Goliath Film and Media Holdings, through its wholly-owned subsidiaries Goliath Film and Media International and Goliath Movie Partners 1, LLC (collectively, “Goliath” or the “Company”), develops, produces and licenses for distribution, domestically and internationally, quality digital content with an emphasis on “niche” markets of the feature motion picture and television content segments of the entertainment industry, such as, without limitation, education, faith-based, horror and socially responsible minority content. Goliath does not intend to engage in domestic theatrical distribution of motion pictures to any significant extent.

 

In qualified cases, Goliath will develop screenplays that will be outsourced to an independent entity for production, but will be licensed for distribution through the Company. Also, in certain cases Goliath will produce content that is tied to working with an established distributor that provides an advance or minimum guarantee for the production of a project that will be licensed by the participating distributor. Goliath plans to produce content and to distribute domestically and internationally, through a wide distribution network which includes major international theatrical exhibitors, and other distributors and television networks. We plan to utilize corporate sponsorships as a means of reducing the costs of advertising and marketing in distribution. Further, we may augment our marketing efforts with a limited and strategically focused advertising campaign in traditional “print” media with press releases targeted specifically toward standard entertainment industry trade journals and publications on an “as needed” basis as well as the inclusion of targeted “social media” campaigns.

 

Goliath’s revenue model includes receiving revenue from distribution fees. A limited number of its content properties include projects developed and produced by Goliath and those produced by an independent third party production entity.

 

Questions and Answers

 

What is your business?

 

We develop, produce and distribute motion pictures and digital content. At this time we do not intend to engage in theatrical releases of motion pictures, due to the high up- front costs of advertising and marketing theatrically. However, in some specific cases the company will consider theatrical releases based upon a “four wall” limited release delivery that will be focused on targeted niche audiences.

 

Distribution Rights

 

What is your business?

 

We develop, produce and distribute motion pictures and digital content. At this time we do not intend to engage in theatrical releases of motion pictures, due to the high up- front costs of advertising and marketing theatrically. However, in some specific cases the company will consider theatrical releases based upon a “four wall, “limited release delivery that will be focused on targeted niche audiences.

 

Distribution Rights

 

The Company has the following distribution rights, with previous distribution contracts expiring. The Company is focusing on its production side of its business at the present time with the exception of the following films listed below:

 

On February 13, 2012, the Company announced that it has acquired the distribution rights to the following motion pictures: Seducing Spirits, The Perfect Argument, Marina Murders, Film Struggle, Divorce in America, A Wonderful Summer, The Truth About Layla, Living with Cancer, and The Biggest Fan. Under the distribution agreements, Goliath will receive 30% of the gross revenues for each picture it distributes. In general, the Company’s distribution contracts cover both domestic and international licensing agreements; however, for the picture The Biggest Fan, the Company obtained limited distribution rights. No revenue has been recognized to date.

 

  15 

 

 

Production Agreements

 

On March 4, 2016, we signed a distribution agreement with Mar Vista Entertainment, LLC to distribute a feature length motion picture currently completed. Per the agreement, we will receive $125,000 in advance payments per an agreed delivery schedule for providing distribution rights on the motion picture “Bridal Bootcamp” a romantic comedy movie produced by Goliath for delivery to Mar Vista Entertainment LLC for distribution. Additionally, Mar Vista Entertainment, LLC will receive 35% of the gross proceeds for a period of 25 years on the motion picture. As of October 31, 2016, the Company has received $125,000 of the advance payments. Bridal Boot Camp was completed in October 2016 resulting in the recognition of the advance payments as revenue of $125,000 in October 2016. Mar Vista is distributing this film.

 

On September 18, 2015, we signed a distribution agreement with Mar Vista Entertainment, LLC to distribute a feature length motion picture currently completed. Per the agreement, we will receive $125,000 in advance payments per an agreed delivery schedule for providing distribution rights on the motion picture “Merry Exes” retitled “Girlfriends of Christmas Past” a Christmas holiday movie produced by Goliath and delivered to Mar Vista Entertainment LLC. for distribution. Additionally, Mar Vista Entertainment, LLC will receive 35% of the gross proceeds for a period of 25 years on the motion picture. As of July 31, 2016, we have received $125,000 of the advance payments. “Merry Exes/” “Girlfriends of Christmas Past was completed June 6, 2016 resulting in the recognition of the advance payments as revenue of $125,000 in June 2016. Mar Vista distributed this movie to UPTV.

 

On May 20, 2015, we signed a distribution agreement with Mar Vista Entertainment, LLC to distribute a feature length motion picture currently completed by us and being licensed by Mar Vista Entertainment, LLC. Per the agreement, we will receive $175,000 in advance payments per an agreed delivery schedule for providing distribution rights on the motion picture “Terror Birds” a science fiction movie produced by Goliath and delivered to Mar Vista Entertainment LLC. for distribution. Additionally, Mar Vista Entertainment, LLC will receive 30% of the gross proceeds for a period of 25 years on the film. As of April 30, 2016, the Company had received $175,000 of the advance payments. Terror Birds was completed December 14, 2015 resulting in the recognition of the advance payments as revenue of $175,000 in February 2016. Mar Vista is continuing to distribute this film.

 

On April 15, 2015 Goliath signed an agreement whereby the Company agreed to invest $15,000 to KKO Productions to produce a feature length motion picture known as “Forgiven”. Per the agreement Goliath will receive 15% of adjusted gross proceeds after its initial investment has been entirely recouped through adjusted gross proceeds. Additionally, the Company received two on screen credits as Executive Producer as well as receiving credit on all advertising, publicity and packaging of the motion picture. The investment of $15,000 presented in other assets on the balance sheet has not yet been repaid, due to the fact that no revenues will be generated until this motion picture’s released.

 

What is the timeline for your activities during the next 12 months?

 

Over the next 90 days to one year, our efforts will be concentrated on developing and producing content with distributors for licensing by them of at least three projects.

 

What is this going to cost you?

 

We expect that producing the aforementioned content will cost approximately $150,000 per project, however licensing and distribution will be handled by an experienced distributor for a fee of anywhere from 30 – 35% and the costs of advertising and marketing will be handled by them and charged against gross distribution licensing proceeds.

 

Why are these motion pictures not being distributed already?

 

The motion pictures that are being produced by the Company and distributed by Mar Vista Entertainment, LLC take anywhere from six to nine months from completion of production and delivery to obtain licensing agreements.

 

Generically, the main reason why good, quality motion pictures are not distributed is that the production of a motion picture requires money and creativity, and marketing a motion picture requires an entirely different set of skills. Many people dream of making a movie; few aspire to distribute them. We estimate that there are in excess of 10,000 such motion pictures “gathering dust.” There also have been and continue to be substantial tax incentives for motion picture production in many States and international Territories, so that many producers do not need to depend on successful marketing in order to find investors for their projects. A secondary factor is the difficulty of finding a reputable distributor. We think that our management has an excellent reputation in the industry and we will be able to obtain distribution rights for content. Finally, many distributors as well as buyers do not have an interest in niche market films, because they see the market as limited. Goliath sees the problem to be, rather, there is no market merely because no one has assembled a critical mass of films for these niches. Most participants in the motion picture industry are based in “Hollywood” and the major coastal metropolitan areas. Our “faith-based” films especially are targeted toward the “Bible Belt” and the “Flyover Country”: places that the industry has consistently overlooked.

 

  16 

 

 

Why are you able to identify and acquire these motion pictures and educational videos?

 

After attending all the major content acquisition markets around the world over the last three years, our Staff has developed relationships with numerous quality filmmakers who need assistance in marketing and distributing their product. Goliath has also developed vital relationships with many of the major content distributors and networks. Many of the filmmakers have requested the Company’s assistance in marketing and distributing their product. Goliath will continue to pursue the marketing and distribution of product that is demanded in the marketplace and desired by major aggregators, distributors, networks and studios.

 

So how are you different than Amazon, Netflix, Blockbuster and Hulu, to name a few? How can you compete with them? They have a lot of money and name recognition. Why wouldn’t they jump into your niches?

 

As a content provider we are not competing with these entities but rather are working on providing them with quality content. As an example, NETFLIX has such a high demand for programming content, they are spending in excess of $5 billion this year for the acquisition of completed programming as well as for the development of original content by them. Therefore, as is mentioned, part of their resources are directed toward acquiring content and part is targeting in-house” and joint venture productions of quality content. This content will be targeted to their subscription base on a domestic and international level.

 

There are a number of quality content producers that work with the major networks and content distributors, Goliath is moving toward becoming one of these content providers. We believe there exists significant opportunities for our company in that the demand for programming is increasing almost exponentially. Irrespective of the platform for viewing by the consumer/subscriber, the demand for quality content is continuing to expand. As an example there are currently, approximately 416 original scripted programs being aired in the entire television universe – a cancellation rate of 10% reflects a number that represents the entire programming universe in the late 1990’s and early 2000’s. The upward trend is ongoing, which is where we see an opportunity for Goliath to provide product to reach many components of the overall market.

 

Don’t cable and satellite networks already offer specialty channels like TBN (for faith based) and BET (Black Entertainment Television (for the African-American Community)?

 

As mentioned above about NETFLIX, even though these channels maybe in niche markets they must expand the type, genre and format of the content that they are showing in order to remain viable, therefore the opportunity to assist them by providing quality programming is ongoing and expanding.

 

What other niches are you looking at entering?

 

We believe that there is an increasing and ongoing trend in home entertainment in servicing niches. Many viewers have cable or satellite service with hundreds of channels, but view only a few channels that cater to their particular interests. One significant type of niche we are targeting are the numerous immigrant groups in the United States. Other than Spanish speaking immigrants, coverage is scarce.

 

There are many interest groups that might be interested in specialty movies or programming. As an example in Hawaii and Southern California, for instance, Surfing is quite popular, and there exists a huge body of surfing films which would be of interest.

 

What about ancillary markets?

 

We plan to incorporate advertising and marketing through social media and traditional outlets to the highest degree possible.

 

What films do you have now in inventory?

 

We presently have acquired the distribution rights to the following motion pictures: , Seducing Spirits, The Perfect Argument, Marina Murders, Film Struggle, Divorce in America, A Wonderful Summer, The Truth About Layla, Living with Cancer, The Biggest Fan, Days of Redemption, On Borrowed Time, Tumbleweed, Virus X, Farewell, Buddies, and The Pit. Under the distribution agreements Goliath will receive 30% of the gross revenues for each of the pictures we distribute. In general, our distribution contracts cover both domestic and international licensing agreements; however, for the picture The Biggest Fan we obtained limited distribution rights.

 

  17 

 

 

How do these distribution rights work?

 

We enter into a Distribution Agreement for each motion picture. Terms may be perpetual or limited by years. The motion pictures that we are acquiring with the proceeds of these offerings will have a term of five years. We will generally obtain a fee of 20% to 30% of gross revenues. Licensing will be flexible for usage applications on a yearly or multi-year basis. Most markets, especially foreign territories have a tendency to continuously renew content licensing.

 

How many employees do you have? Do you have an office?

 

We have just 3 employees and we believe that is sufficient during the development, production and “content aggregation” phase of our development. Our administrative office is in Marina del Rey, California.

 

Do you have a website?

 

Our website is www.goliathfilmandmediainternational.com. We have a mirror site at www.goliathfilmandmedia.com

 

Critical Accounting Policies and Estimates

 

The SEC has defined a company’s critical accounting policies as the ones that are most important to the portrayal of the Company’s financial condition and results of operations and which require the Company to make its most difficult and subjective judgments, often as a result of the need to make estimates of matters that are inherently uncertain. Based on this definition, we have identified the critical accounting policies and judgments addressed below. We also have other key accounting policies that are significant to understanding our results. For additional information, see Note 2 - Summary of Significant Accounting Policies.

 

The following are deemed to be the most significant accounting policies affecting the Company.

 

Principles of Consolidation

 

The consolidated financial statements include the accounts of the Company and its subsidiary, Goliath Film and Media Holdings. All significant inter-company balances and transactions are eliminated on consolidation.

 

Basis of Presentation

 

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reported period. Actual results could differ from those estimates. Management further acknowledges that it is solely responsible for adopting sound accounting practices, establishing and maintaining a system of internal accounting control and preventing and detecting fraud. The Company’s system of internal accounting control is designed to assure, among other items, that (1) recorded transactions are valid; (2) all valid transactions are recorded and (3) transactions are recorded in the period in a timely manner to produce financial statements which present fairly the financial condition, results of operations and cash flows of the company for the respective periods being presented.

 

Use of Estimates

 

The preparation of financial statements in accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. A change in managements’ estimates or assumptions could have a material impact on the Company’s financial condition and results of operations during the period in which such changes occurred. The more significant estimates and assumptions by management include among others: Estimated revenue of films. The current economic environment has increased the degree of uncertainty inherent in these estimates and assumptions.

 

Actual results could differ from those estimates. The Company’s financial statements reflect all adjustments that management believes are necessary for the fair presentation of their financial condition and results of operations for the periods presented.

 

Revenue Recognition

 

We recognize revenues in accordance with ASC 926-605, “Entertainment Films, Revenue Recognition”.

 

  18 

 

 

Under ASC 926-605, five conditions must be met before revenue can be recognized: (i) there is persuasive evidence that an arrangement exists, (ii) the film is complete and has been delivered, (iii) the license period has begun, (vi) the price is fixed or determinable, and (v) collection is reasonably assured. The Company provides for an allowance for doubtful account based history and experience considering economic and industry trends. The Company does not have any off-Balance Sheet exposure related to its customers.

 

The Company recognizes revenue when the distributor confirms to the Company that the film has been delivered to the distributor with all technical and document deliveries received, waived or deferred and the film has been entered into the distributor’s rights system.

 

Accounts Receivable

 

Accounts receivable, if any are carried at the expected net realizable value. The allowance for doubtful accounts, when determined, will be based on management’s assessment of the collectability of specific customer accounts and the aging of the accounts receivables. If there were a deterioration of a major customer’s creditworthiness, or actual defaults were higher than historical experience, our estimates of the recoverability of the amounts due to us could be overstated, which could have a negative impact on operations.

 

The Company currently does not have any accounts receivable. The above accounting policies will be adopted upon the Company carrying accounts receivable.

 

Films and Televisions Costs

 

The Company capitalizes production costs for films produced in accordance with ASC 926-20, “Entertainment-Films - Other Assets - Film Costs”. Accordingly, production costs are capitalized at actual cost and then charged against revenue quarterly as a cost of production based on the relative fair value of the film(s) delivered and recognized as revenue. The Company evaluates its capitalized production costs annually and limits recorded amounts by its ability to recover such costs through expected future sales. There was an impairment charge of $44,918 for fiscal year ending April 30, 2017. There was no amortization expense or impairment for the three months ended July 31, 2017 and 2016, respectively.

 

Film production costs include the unamortized costs of films in progress which are being produced by the Company.

 

For films produced by the Company, capitalized costs include all direct production costs, and production overhead.

 

Costs of producing films are amortized using the individual-film-forecast method, whereby these costs are amortized and participations and residuals costs are accrued in the proportion that current year’s revenue bears to management’s estimate of ultimate revenue at the beginning of the current year expected to be recognized from the exploitation, exhibition or sale of the films. Ultimate revenue includes estimates over a period not to exceed ten years following the date of initial release of the motion picture.

 

Film production costs are stated at the lower of amortized cost or estimated fair value. The valuation of film production costs are reviewed on a title-by-title basis, when an event or change in circumstances indicates that the fair value of a film is less than its unamortized cost. During the three months ended July 31, 2017 and 2016, the Company recorded no impairment charges.

 

Income Taxes

 

We account for income taxes under the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) No. 740, Income Taxes (“ASC 740”). Under ASC 740, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Under ASC 740, the effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date.

 

  19 

 

 

Stock Compensation

 

In accordance with ASC No. 718, Compensation – Stock Compensation (“ASC 718”), we measure the compensation costs of share-based compensation arrangements based on the grant-date fair value and recognize the costs in the financial statements over the period during which employees are required to provide services. Share-based compensation arrangements include stock options, restricted share plans, performance-based awards, share appreciation rights and employee share purchase plans. As such, compensation cost is measured on the date of grant at their fair value. Such compensation amounts, if any, are amortized over the respective vesting periods of the option grant. We apply this statement prospectively. Equity instruments (“instruments”) issued to other than employees are recorded on the basis of the fair value of the instruments, as required by ASC 718. ASC No. 505, Equity Based Payments to Non-Employees (“ASC 505”) defines the measurement date and recognition period for such instruments. In general, the measurement date is (a) when a performance commitment, as defined, is reached or (b) when the earlier of (i) the non-employee performance is complete or (ii) the instruments are vested. The measured value related to the instruments is recognized over a period based on the facts and circumstances of each particular grant as defined in the ASC 505.

 

Accounting for Derivative Financial Instruments

 

We evaluate financial instruments using the guidance provided by ASC 815 and apply the provisions thereof to the accounting of items identified as derivative financial instruments not indexed to our stock.

 

Fair Value of Financial Instruments

 

We follow the provisions of ASC 820. This Topic defines fair value, establishes a measurement framework and expands disclosures about fair value measurements.

 

We use fair value measurements for determining the valuation of derivative financial instruments payable in shares of its common stock. This primarily involves option pricing models that incorporate certain assumptions and projections to determine fair value. These require management’s judgment.

 

Fair Value Measurements

 

Effective beginning second quarter 2010, the FASB ASC Topic 825, Financial Instruments, requires disclosures about fair value of financial instruments in quarterly reports as well as in annual reports. For the Company, this statement applies to certain investments and long-term debt. Also, the FASB ASC Topic 820, Fair Value Measurements and Disclosures, clarifies the definition of fair value for financial reporting, establishes a framework for measuring fair value and requires additional disclosures about the use of fair value measurements.

 

Various inputs are considered when determining the value of the Company’s investments and long-term debt. The inputs or methodologies used for valuing securities are not necessarily an indication of the risk associated with investing in these securities. These inputs are summarized in the three broad levels listed below.

 

●  Level 1 – observable market inputs that are unadjusted quoted prices for identical assets or liabilities in active markets.
   
Level 2 – other significant observable inputs (including quoted prices for similar securities, interest rates, credit risk, etc.).
   
Level 3 – significant unobservable inputs (including the Company’s own assumptions in determining the fair value of investments).

 

The carrying value of financial assets and liabilities recorded at fair value is measured on a recurring or nonrecurring basis. Financial assets and liabilities measured on a non-recurring basis are those that are adjusted to fair value when a significant event occurs. The Company had no financial assets or liabilities carried and measured on a nonrecurring basis during the reporting periods. Financial assets and liabilities measured on a recurring basis are those that are adjusted to fair value each time a financial statement is prepared. The Company had no financial assets and/or liabilities carried at fair value on a recurring basis at July 31, 2017, assets and liabilities approximate fair value due to their short term nature.

 

The availability of inputs observable in the market varies from instrument to instrument and depends on a variety of factors including the type of instrument, whether the instrument is actively traded, and other characteristics particular to the transaction. For many financial instruments, pricing inputs are readily observable in the market, the valuation methodology used is widely accepted by market participants, and the valuation does not require significant management discretion. For other financial instruments, pricing inputs are less observable in the market and may require management judgment. As of July 31, 2017, the Company had no assets other than prepaid expenses and capitalized film production costs.

 

  20 

 

 

Basic and diluted earnings per share

 

Basic earnings per share are based on the weighted-average number of shares of common stock outstanding. Diluted Earnings per share is based on the weighted-average number of shares of common stock outstanding adjusted for the effects of common stock that may be issued as a result of the following types of potentially dilutive instruments:

 

Warrants,
   
Employee stock options, and
   
Other equity awards, which include long-term incentive awards.

  

The FASB ASC Topic 260, Earnings Per Share, requires the Company to include additional shares in the computation of earnings per share, assuming dilution.

 

Diluted earnings per share is based on the assumption that all dilutive options were converted or exercised. Dilution is computed by applying the treasury stock method. Under this method, options are assumed to be exercised at the time of issuance, and as if funds obtained thereby were used to purchase common stock at the average market price during the period.

 

Basic and diluted earnings per share are the same as there were no potentially dilutive instruments for the three months ended July 31, 2017 and 2016.

 

Concentrations, Risks, and Uncertainties

 

The Company had no customers in the three months ended July 31, 2017 that accounted for 10% or more of total revenue.

 

The Company had one customer, Mar Vista Entertainment, that accounted for 10% or more of total revenue comprising 100% of total revenue for the three months ended July 31, 2016. The Company had no customers in the three months ended July 31, 2017 that accounted for 10% or more of total revenue.

 

Recent Accounting Pronouncements

 

We have evaluated new accounting pronouncements that have been issued and are not yet effective for us and determined that there are no such pronouncements expected to have an impact on our future financial statements.

 

Plan of Operations

 

We had a net loss of $1,813 for the three months ended July 31, 2017, we have had historical losses and an accumulated deficit of $603,497 as of July 31, 2017. These factors create substantial doubt about the Company’s ability to continue as a going concern. The Company’s management plan to continue as a going concern revolves around its ability to execute its business strategy of distributing films, as well as raising the necessary capital to pay ongoing general and administrative expenses of the Company.

 

During the three months ended July 31, 2016, we entered into separate private placement memorandums with an affiliate shareholder under which we issued 9,832,000 shares of our common stock, restricted in accordance with Rule 144, in exchange for $98,320. During the three months ended July 31, 2017, we entered into no private placement memorandums. The issuances were exempt from registration pursuant to Section 4(2) of the Securities Act of 1933, and the investor was sophisticated and familiar with our operations at the time of the issuance of the shares.

 

Results of Operations

 

Three Months Ended July 31, 2017 Compared to Three Months Ended July 31, 2016

 

Film Production Revenue

 

For the three months ended July 31, 2016, we completed and delivered Merry Exes and recognized $125,000 as revenue from advance payments previously received from Mar Vista Entertainment. For the three months ended July 31, 2017, we had no revenues.

 

  21 

 

 

Cost of Sales

 

For the three months ended July 31, 2016, we completed and delivered Merry Exes and recognized $66,812 of production costs as cost of sales. For the three months ended July 31, 2017, we had no cost of sales.

 

Operating expenses

 

Operating expenses decreased by $8,087, or 81.7%, to $1,813 in the three months ended July 31, 2017 from $9,900 in the three months ended July 31, 2016 primarily due to decreases in consulting services, other operating expenses, and travel costs.

 

Operating expenses for the three months ended July 31, 2017 were comprised primarily of travel costs of $615, office rent of $597, and $601 of other operating expenses.

 

Operating expenses for the three months ended July 31, 2016 were comprised primarily of office rent of consulting services of $5,090, travel costs of $746, rent of $597 and $3,467 of other operating expenses.

 

Net income (loss) before income taxes

 

Net loss before income taxes for the three months ended July 31, 2017 are primarily due to travel costs, and rent compared to net income for the three months ended July 31, 2016 totaling $48,288 primarily due to revenue of $125,000 and decreases in consulting services costs and other operating expenses.

 

Assets and Liabilities

 

Total assets were $367,561 as of July 31, 2017 compared to $369,374 as of April 30, 2017, or a decrease of $1,813, primarily the result of a decrease in cash of $1,813. Total liabilities were $23,988 as of July 31, 2017 and April 30, 2017, respectively.

 

Stockholders’ Equity

 

Stockholders’ equity was $343,573 as of July 31, 2017. Stockholder’s equity during the three months ended July 31, 2017 consisted primarily of a net loss of $1,813.

 

Liquidity and Capital Resources

 

General – Overall, we had a decrease in cash flows of $1,813 in the three months ended July 31, 2017 resulting from cash used in operating activities of $1,813.

 

The following is a summary of our cash flows provided by (used in) operating, investing, and financing activities during the periods indicated:

 

   Three Months Ended July 31, 
   2017   2016 
         
Cash at beginning of period  $2,468   $25,310 
Net cash used in operating activities   (1,813)   (106,004)
Net cash used in investing activities        
Net cash provided by financing activities       98,562 
Cash at end of period  $655   $17,868 

 

Net cash used in operating activities was $1,813 for the three months ended July 31, 2017 compared to net cash used in operations for the three months ended July 31, 2016 of $106,004 primarily by a net loss of $1,813 for the three months ended July 31, 2017.

 

Net cash provided by financing activities was $0 for the three months ended July 31, 2017, compared to net cash provided by financing activities of $98,562 for the three months ended July 31, 2016 primarily as the result of an issuance of stock for cash of $98,320 in the three months ended July 31, 2016.

 

  22 

 

 

Our cash needs for the year ending April 30, 2018 are estimated to be $200,000. This budget is based on the assumption that we will carry out one project at a time for which we will need about $50,000 in working capital; general and administrative expenses of $150,000 for the costs related to being public, and miscellaneous office expenses. During the three months ended July 31, 2017, the Company did not enter into any private placement memorandums. During the three months ended July 31, 2016, the Company sold 9,832,000 restricted common shares to a related party affiliate shareholder, as a result of being a greater than 10% shareholder, pursuant to a private placement memorandum in exchange for $98,320. As we move forward with our business plan we will need to raise additional capital either through the sale of stock or funding from shares and or officers and directors to cover our cash needs through the end of the 2017 fiscal year.

 

Information included in this report includes forward looking statements, which can be identified by the use of forward-looking terminology such as may, expect, anticipate, believe, estimate, or continue, or the negative thereof or other variations thereon or comparable terminology. The statements in “Risk Factors” and other statements and disclaimers in this report constitute cautionary statements identifying important factors, including risks and uncertainties, relating to the forward-looking statements that could cause actual results to differ materially from those reflected in the forward-looking statements.

 

Equity Financing

 

During the three months ended July 31, 2017, the Company did not enter into any private placement memorandums. During the three months ended July 31, 2016, the Company sold 9,832,000 restricted common shares to a related party affiliate shareholder pursuant to a private placement memorandum in exchange for $98,320. The issuance was exempt from registration pursuant to Section 4(2) of the Securities Act of 1933, and the investor was sophisticated and familiar with our operations at the time of the issuance of the shares.

 

Contractual Obligations and Off-Balance Sheet Arrangements

 

We do not have any contractual obligations or off balance sheet arrangements.

 

Item 3. Quantitative and Qualitative Disclosures About Market Risk.

 

As a smaller reporting company as defined by Item 10 of Regulation S-K, the Company is not required to provide information required by this Item.

 

Item 4. Controls and Procedures.

 

Evaluation of Disclosure Controls and Procedures

 

Disclosure Controls and Procedures. We maintain disclosure controls and procedures designed to ensure that information required to be disclosed in our reports filed under the Securities Exchange Act of 1934, as amended (the Exchange Act), is recorded, processed, summarized, and reported accurately, in accordance with U.S. Generally Accepted Accounting Principles and within the required time periods, and that such information is accumulated and communicated to our management, including our Chief Executive Officer, who is also our acting Chief Financial Officer, as appropriate, to allow for timely decisions regarding disclosure. As of the end of the period covered by this report (July 31, 2017), we carried out an evaluation, under the supervision and with the participation of our management, including our Chief Executive Officer, and our Chief Financial Officer, of the effectiveness of the design and operation of our disclosure controls and procedures (as defined in Exchange Act Rule 13a-15(e) and 15d-15(e)). Based upon that evaluation, our Chief Executive Officer and our Chief Financial Officer concluded that as of the end of the period covered by this Quarterly Report on Form 10-Q our disclosure controls and procedures were not effective to enable us to accurately record, process, summarize and report certain information required to be included in the Company’s periodic SEC filings within the required time periods, and to accumulate and communicate to our management, including the Chief Executive Officer and Chief Financial Officer, to allow timely decisions regarding required disclosure.

 

Changes in Internal Controls

 

There have been no changes in our internal controls over financial reporting during the quarter ended July 31, 2017 that have materially affected or are reasonably likely to materially affect our internal controls.

 

  23 

 

 

PART II — OTHER INFORMATION

 

Item 1. Legal Proceedings.

 

We are not a party to or otherwise involved in any legal proceedings.

 

In the ordinary course of business, we are from time to time involved in various pending or threatened legal actions. The litigation process is inherently uncertain and it is possible that the resolution of such matters might have a material adverse effect upon our financial condition and/or results of operations. However, in the opinion of our management, other than as set forth herein, matters currently pending or threatened against us are not expected to have a material adverse effect on our financial position or results of operations.

 

Item 1A. Risk Factors.

 

As a “smaller reporting company” as defined by Item 10 of Regulation S-K, the Company is not required to provide information required by this Item.

 

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.

 

None.

 

Item 3. Defaults Upon Senior Securities.

 

There have been no events which are required to be reported under this Item.

 

Item 4. Mine Safety Disclosures.

 

Not applicable.

 

Item 5. Other Information.

 

None.

 

Item 6. Exhibits.

 

31. Certification of CEO and CFO.

32. Certification pursuant to 18 U.S.C. Section 1350 of CEO and CFO

  

  24 

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

 

  GOLIATH FILM AND MEDIA HOLDINGS
     
Dated: August 31, 2017 By: /s/ Lamont Roberts
    Lamont Roberts
    CEO Director and acting Chief Financial Officer
     
    /s/ Mike Criscione
   

Mike Criscione

Director

  

  25 

 

 

 

EX-31.1 2 ex31-1.htm

 

EXHIBIT 31.1

 

SECTION 302 CERTIFICATION

 

I, Lamont Roberts, certify that:

 

1. I have reviewed this quarterly report on Form 10-Q of Goliath Film and Media Holdings;

 

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

 

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

 

4. I am responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

 

a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

 

b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

 

c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

 

d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

 

5. I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

 

a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

 

b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

 

Date: August 31, 2017

 

/s/ Lamont Roberts  
Lamont Roberts  
Chief Executive Officer and Chief Financial Officer  

 

   

 

 

 

EX-32.1 3 ex32-1.htm

 

EXHIBIT 32.1 

 

CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350, AS ADOPTED

 

PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

 

In connection with the Quarterly Report of Goliath Film and Media Holdings (the “Company”) on Form 10-Q for the quarter ended July 31, 2017 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Lamont Roberts, Chief Executive Officer and Chief Financial Officer of the Company, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, to the best of my knowledge, that:

 

(1) The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

 

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company for the dates and periods covered by the Report.

 

This certificate is being made for the exclusive purpose of compliance by the Chief Executive Officer and Chief Financial Officer of the Company with the requirements of Section 906 of the Sarbanes-Oxley Act of 2002, and may not be disclosed, distributed or used by any person or for any reason other than as specifically required by law.

 

/s/ Lamont Roberts  
Lamont Roberts  
Chief Executive Officer and Chief Financial Officer  

 

August 31, 2017

 

   

 

 

 

 

EX-101.INS 4 gfmh-20170731.xml XBRL INSTANCE FILE 0000820771 2016-04-30 0000820771 us-gaap:ParentCompanyMember 2011-10-31 0000820771 us-gaap:ParentCompanyMember 2011-10-30 2011-10-31 0000820771 2011-10-31 0000820771 2011-10-30 2011-10-31 0000820771 2017-05-01 2017-07-31 0000820771 2017-08-31 0000820771 GFMH:MarVistaEntertainmentLLCMember GFMH:DistributionAgreementMember 2016-03-03 2016-03-04 0000820771 GFMH:MarVistaEntertainmentLLCMember GFMH:DistributionAgreementMember 2016-10-30 2016-10-31 0000820771 GFMH:MarVistaEntertainmentLLCMember GFMH:DistributionAgreementMember 2015-09-17 2015-09-18 0000820771 GFMH:MarVistaEntertainmentLLCMember GFMH:DistributionAgreementMember 2015-05-19 2015-05-20 0000820771 GFMH:MarVistaEntertainmentLLCMember GFMH:DistributionAgreementMember 2016-04-29 2016-04-30 0000820771 GFMH:KKOProductionsMember GFMH:DistributionAgreementMember 2015-04-14 2015-04-15 0000820771 GFMH:BridalBootCampMember GFMH:DistributionAgreementMember 2016-10-01 2016-10-31 0000820771 GFMH:MarVistaEntertainmentLLCMember GFMH:DistributionAgreementMember 2016-07-30 2016-07-31 0000820771 GFMH:MerryExesMember GFMH:DistributionAgreementMember 2016-06-01 2016-06-30 0000820771 2017-04-30 0000820771 2017-07-31 0000820771 2016-05-01 2016-07-31 0000820771 2016-07-31 0000820771 GFMH:OneCustomerMember 2017-05-01 2017-07-31 0000820771 GFMH:NoCustomerMember 2017-05-01 2017-07-31 0000820771 GFMH:TerrorBirdsMember GFMH:DistributionAgreementMember 2016-02-01 2016-02-29 0000820771 us-gaap:AffiliatedEntityMember us-gaap:PrivatePlacementMember 2017-05-01 2017-07-31 0000820771 us-gaap:AffiliatedEntityMember us-gaap:PrivatePlacementMember 2016-05-01 2016-07-31 0000820771 GFMH:CAndRFilmMember 2017-05-01 2017-07-31 0000820771 GFMH:CAndRFilmMember 2016-05-01 2016-07-31 0000820771 us-gaap:AffiliatedEntityMember us-gaap:PrivatePlacementMember us-gaap:MinimumMember 2017-05-01 2017-07-31 0000820771 2016-05-01 2017-04-30 iso4217:USD xbrli:shares iso4217:USD xbrli:shares xbrli:pure 2017-07-31 false --04-30 Smaller Reporting Company 67100000 174625386 174625386 67100000 174625386 174625386 0.701 47000000 eight-for-1 forward stock split 0.001 0.001 1000000 1000000 0.001 0.001 174625386 GFMH Q1 300000000 300000000 351607 351607 0 58134 15619816 9832000 345386 343573 -1813 47958 -1813 -106004 <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>NOTE 8 - COMMITMENTS AND CONTINGENCIES</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>&#160;</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><u>Production Agreements</u></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company has signed three distribution agreements with Mar Vista Entertainment, LLC to distribute feature length motion pictures. See Note 4.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><u>Legal</u></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company is not a party to or otherwise involved in any legal proceedings.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In the ordinary course of business, from time to time the Company may be involved in various pending or threatened legal actions. The litigation process is inherently uncertain and it is possible that the resolution of such matters might have a material adverse effect upon the Company&#8217;s financial condition and/or results of operations. However, in the opinion of management, other than as set forth herein, matters currently pending or threatened against the Company are not expected to have a material adverse effect on its financial position or results of operations.</p> Goliath Film & Media Holdings 366607 366607 15000 15000 369374 367561 -601684 -603497 369374 367561 1813 9900 1813 9900 -1813 48288 -1813 48288 147292 98562 <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>NOTE 5 &#8211; COMMON STOCK</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company has authorized 1,000,000 shares of preferred stock, $0.001 par value, with such rights, preferences and designation and to be issued in such series as determined by the Board of Directors. No shares of preferred stock are issued and outstanding at July 31, 2017 and April 30, 2017.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company has authorized 300,000,000 shares of par value $0.001 common stock, of which 174,625,836 and 174,625,836 shares are outstanding at July 31, 2017 and April 30, 2017, respectively. The Company has not yet issued 35,660,469 common shares to a related party affiliate.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the three months ended July 31, 2017, the Company did not enter into any private placement memorandums.</p> <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b>NOTE 6 &#8211; GOING CONCERN</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b>&#160;</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company&#8217;s financial statements are prepared using accounting principles generally accepted in the United States of America applicable to a going concern, which contemplates the realization of assets and liquidation of liabilities in the normal course of business. However, the Company does not have significant cash or other current assets, nor does it have an established source of revenues sufficient to cover its operating costs and to allow it to continue as a going concern.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Under the going concern assumption, an entity is ordinarily viewed as continuing in business for the foreseeable future with neither the intention nor the necessity of liquidation, ceasing trading, or seeking protection from creditors pursuant to laws or regulations. Accordingly, assets and liabilities are recorded on the basis that the entity will be able to realize its assets and discharge its liabilities in the normal course of business.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The ability of the Company to continue as a going concern is dependent upon its ability to successfully accomplish the plan described in the preceding paragraph and eventually attain profitable operations. The accompanying financial statements do not include any adjustments that may be necessary if the Company is unable to continue as a going concern.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the next year, the Company&#8217;s foreseeable cash requirements will relate to continual development of the operations of its business, maintaining its good standing and making the requisite filings with the Securities and Exchange Commission, and the payment of expenses associated with reviewing or investigating any potential business ventures. The Company may experience a cash shortfall and be required to raise additional capital.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Historically, the Company has relied upon internally generated funds and funds from the sale of shares of stock to finance its operations and growth. Management may raise additional capital through future public or private offerings of the Company&#8217;s stock or through loans from private investors, although there can be no assurance that it will be able to obtain such financing. The Company&#8217;s failure to do so could have a material and adverse effect upon its and its shareholders.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In the past year, the Company funded operations by using cash proceeds received through the issuance of common stock. For the coming year, the Company plans to continue to fund the Company through debt and securities sales and issuances, focus on a possible joint venture or merger until the company generates revenues through the operations of such merged company or joint venture as stated above.</p> <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b>NOTE 7 - RELATED PARTY TRANSACTIONS</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b>&#160;</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the three months ended July 31, 2017, the Company did not enter into any private placement memorandums. During the three months ended July 31, 2016, the Company sold 9,832,000 restricted common shares to a related party affiliate shareholder, as a result of being a greater than 10% shareholder, pursuant to a private placement memorandum in exchange for $98,320.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In three months ended July 31, 2017 and 2016, the Company paid C&#38;R Film for film production costs and reimbursement of various expenses of $0 and $58,134, respectively. C&#38;R Film is controlled by Lamont Robert, CEO and Acting CFO of the Company.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b>&#160;</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Related party transactions have been disclosed in the other notes to these financial statements.</p> <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>NOTE 9 &#8211; SUBSEQUENT EVENTS</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>&#160;</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the period ended July 31, 2017 there were no subsequent events.</p> 125000 125000 125000 175000 175000 125000 125000 125000 175000 0000820771 44918 2018 23988 23988 25310 2468 655 17868 2767 954 299 299 23988 23988 174626 174626 772444 772444 125000 66812 58188 330 174625386 163421308 242 98320 -1813 -7442 23988 23988 -0.00 -0.00 <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><u>Organization, Nature of Business and Trade Name</u></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>&#160;</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On October 31, 2011 (the &#8220;Closing Date&#8221;), China Advanced Technology acquired Goliath Film and Media International, a California corporation, by issuing 47,000,000 shares of its Common Stock, constituting 70.1% of the outstanding shares after giving effect to their issuance and the cancellation of 15,619,816 shares held by China Advanced Technology&#8217;s prior control person. Immediately following the Closing, 67,100,000 shares were issued and outstanding. On the Closing Date, the name of China Advanced Technology was changed to Goliath Film and Media Holdings (&#8220;Goliath&#8221;, &#8220;GFMH&#8221;, or &#8220;the Company&#8221;). All share numbers herein have been adjusted for an eight-for-1 forward stock split affected as of the Closing Date. The forward stock split was reflected in the trading market on February 13, 2012. The transaction was accounted for as a reverse acquisition in which Goliath Film and Media International is deemed to be the accounting acquirer, and the prior operations of Goliath (formerly China Advanced Technology) are consolidated for accounting purposes. Since Goliath had no operations, assets, or liabilities as of the Closing, no audit of that entity was required under the materiality thresholds of Regulation S-X Rule 8-04.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company is engaged in the distribution of motion pictures and digital content.</p> <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><u>Principles of Consolidation</u></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The accompanying consolidated financial statements include the accounts of the Company and its subsidiaries. All intercompany accounts and transactions have been eliminated.</p> <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><u>Basis of Presentation</u></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reported period. Actual results could differ from those estimates. Management further acknowledges that it is solely responsible for adopting sound accounting practices, establishing and maintaining a system of internal accounting control and preventing and detecting fraud. The Company&#8217;s system of internal accounting control is designed to assure, among other items, that (1) recorded transactions are valid; (2) all valid transactions are recorded and (3) transactions are recorded in the period in a timely manner to produce financial statements which present fairly the financial condition, results of operations and cash flows of the company for the respective periods being presented.</p> <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><u>Use of Estimates</u></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The preparation of financial statements in accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. A change in managements&#8217; estimates or assumptions could have a material impact on the Company&#8217;s financial condition and results of operations during the period in which such changes occurred.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Actual results could differ from those estimates. The Company&#8217;s financial statements reflect all adjustments that management believes are necessary for the fair presentation of their financial condition and results of operations for the periods presented.</p> 10-Q <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><u>Accounts Receivable </u></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Accounts receivable, if any are carried at the expected net realizable value. The allowance for doubtful accounts, when determined, will be based on management&#8217;s assessment of the collectability of specific customer accounts and the aging of the accounts receivables. If there were a deterioration of a major customer&#8217;s creditworthiness, or actual defaults were higher than historical experience, our estimates of the recoverability of the amounts due to us could be overstated, which could have a negative impact on operations.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company currently does not have any accounts receivable. The above accounting policies will be adopted upon the Company carrying accounts receivable.</p> <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><u>Films and Televisions Costs</u></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company capitalizes production costs for films produced in accordance with ASC 926-20, &#8220;Entertainment-Films - Other Assets - Film Costs&#8221;. Accordingly, production costs are capitalized at actual cost and then charged against revenue quarterly as a cost of production based on the relative fair value of the film(s) delivered and recognized as revenue. The Company evaluates its capitalized production costs annually and limits recorded amounts by its ability to recover such costs through expected future sales. There was an impairment charge of $44,918 for fiscal year ending April 30, 2017. There was no amortization expense or impairment for the three months ended July 31, 2017 and 2016, respectively.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Film production costs include the unamortized costs of films in progress which are being produced by the Company.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">For films produced by the Company, capitalized costs include all direct production costs, and production overhead.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Costs of producing films are amortized using the individual-film-forecast method, whereby these costs are amortized and participations and residuals costs are accrued in the proportion that current year&#8217;s revenue bears to management&#8217;s estimate of ultimate revenue at the beginning of the current year expected to be recognized from the exploitation, exhibition or sale of the films. Ultimate revenue includes estimates over a period not to exceed ten years following the date of initial release of the motion picture.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Film production costs are stated at the lower of amortized cost or estimated fair value. The valuation of film production costs are reviewed on a title-by-title basis, when an event or change in circumstances indicates that the fair value of a film is less than its unamortized cost. During the three months ended July 31, 2017 and 2016, the Company recorded no impairment charges.</p> <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><u>Revenue Recognition</u></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We recognize revenues in accordance with ASC 926-605, &#8220;Entertainment Films, Revenue Recognition&#8221;.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Under ASC 926-605, five conditions must be met before revenue can be recognized: (i) there is persuasive evidence that an arrangement exists, (ii) the film is complete and has been delivered, (iii) the license period has begun, (iv) the price is fixed or determinable, and (v) collection is reasonably assured. The Company provides for an allowance for doubtful account based history and experience considering economic and industry trends. The Company does not have any off-Balance Sheet exposure related to its customers.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company recognizes revenue when the distributor confirms to the Company that the film has been delivered to the distributor with all technical and document deliveries received, waived or deferred and the film has been entered into the distributor&#8217;s rights system.</p> <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><u>Advertising</u></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Advertising expenses are recorded as general and administrative expenses when they are incurred. There was no advertising expense for the three months ended July 31, 2017 and 2016, respectively.</p> <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><u>Research and Development</u></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">All research and development costs are expensed as incurred. There was no research and development expense for the three months ended July 31, 2017 and 2016, respectively.</p> <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><u>Income tax</u></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We account for income taxes under the Financial Accounting Standards Board (&#8220;FASB&#8221;) Accounting Standards Codification (&#8220;ASC&#8221;) No. 740, Income Taxes (&#8220;ASC 740&#8221;). Under ASC 740, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Under ASC 740, the effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date.</p> <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><u>Fair Value of Financial Instruments</u></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company follows the provisions of ASC 820. This Topic defines fair value, establishes a measurement framework and expands disclosures about fair value measurements.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company uses fair value measurements for determining the valuation of derivative financial instruments payable in shares of its common stock. This primarily involves option pricing models that incorporate certain assumptions and projections to determine fair value. These require management&#8217;s judgment.</p> <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><u>Fair Value Measurements</u></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b>&#160;</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">FASB ASC Topic 825, <i>Financial Instruments</i>, requires disclosures about fair value of financial instruments in quarterly reports as well as in annual reports. For the Company, this statement applies to certain investments and long-term debt. Also, the FASB ASC Topic 820, <i>Fair Value Measurements and Disclosures</i>, clarifies the definition of fair value for financial reporting, establishes a framework for measuring fair value and requires additional disclosures about the use of fair value measurements.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Various inputs are considered when determining the value of the Company&#8217;s investments and long-term debt. The inputs or methodologies used for valuing securities are not necessarily an indication of the risk associated with investing in these securities. These inputs are summarized in the three broad levels listed below.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p> <table cellspacing="0" cellpadding="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 48px; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#9679;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Level 1 &#8211; observable market inputs that are unadjusted quoted prices for identical assets or liabilities in active markets.</font></td></tr> <tr style="vertical-align: top"> <td style="text-align: justify">&#160;</td> <td style="text-align: justify">&#160;</td></tr> <tr style="vertical-align: top"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#9679;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Level 2 &#8211; other significant observable inputs (including quoted prices for similar securities, interest rates, credit risk, etc.).</font></td></tr> <tr style="vertical-align: top"> <td style="text-align: justify">&#160;</td> <td style="text-align: justify">&#160;</td></tr> <tr style="vertical-align: top"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#9679;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Level 3 &#8211; significant unobservable inputs (including the Company&#8217;s own assumptions in determining the fair value of investments).</font></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company&#8217;s adoption of FASB ASC Topic 825 did not have a material impact on the Company&#8217;s consolidated financial statements.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The carrying value of financial assets and liabilities recorded at fair value is measured on a recurring or nonrecurring basis. Financial assets and liabilities measured on a non-recurring basis are those that are adjusted to fair value when a significant event occurs. The Company had no financial assets or liabilities carried and measured on a nonrecurring basis during the reporting periods. Financial assets and liabilities measured on a recurring basis are those that are adjusted to fair value each time a financial statement is prepared. The Company had no financial assets and/or liabilities carried at fair value on a recurring basis at July 31, 2017, assets and liabilities approximate fair value due to their short term nature.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The availability of inputs observable in the market varies from instrument to instrument and depends on a variety of factors including the type of instrument, whether the instrument is actively traded, and other characteristics particular to the transaction. For many financial instruments, pricing inputs are readily observable in the market, the valuation methodology used is widely accepted by market participants, and the valuation does not require significant management discretion. For other financial instruments, pricing inputs are less observable in the market and may require management judgment. As of July 31, 2017, the Company had no assets other than prepaid expenses, cash, and capitalized film production costs.</p> <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><u>Basic and diluted earnings per share</u></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Basic earnings per share are based on the weighted-average number of shares of common stock outstanding. Diluted Earnings per share is based on the weighted-average number of shares of common stock outstanding adjusted for the effects of common stock that may be issued as a result of the following types of potentially dilutive instruments:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <table cellspacing="0" cellpadding="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 48px"><font style="font: 10pt Times New Roman, Times, Serif">&#9679;</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">Warrants,</font></td></tr> <tr style="vertical-align: top"> <td>&#160;</td> <td>&#160;</td></tr> <tr style="vertical-align: top"> <td><font style="font: 10pt Times New Roman, Times, Serif">&#9679;</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">Employee stock options, and</font></td></tr> <tr style="vertical-align: top"> <td>&#160;</td> <td>&#160;</td></tr> <tr style="vertical-align: top"> <td><font style="font: 10pt Times New Roman, Times, Serif">&#9679;</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">Other equity awards, which include long-term incentive awards.</font></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The FASB ASC Topic 260, <i>Earnings Per Share</i>, requires the Company to include additional shares in the computation of earnings per share, assuming dilution.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Diluted earnings per share is based on the assumption that all dilutive options were converted or exercised. Dilution is computed by applying the treasury stock method. Under this method, options are assumed to be exercised at the time of issuance, and as if funds obtained thereby were used to purchase common stock at the average market price during the period.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Basic and diluted earnings per share are the same as there were no potentially dilutive instruments for the three months ended July 31, 2017 and 2016, respectively.</p> <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><u>Concentrations, Risks, and Uncertainties</u></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company had one customer, Mar Vista Entertainment, that accounted for 100% of total revenue. The Company had no customers in the three months ended July 31, 2017 that accounted for 10% or more of total revenue.</p> <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><u>Stock Based Compensation</u></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In accordance with ASC No. 718, <i>Compensation &#8211; Stock Compensation</i> (&#8220;ASC 718&#8221;), we measure the compensation costs of share-based compensation arrangements based on the grant-date fair value and recognize the costs in the financial statements over the period during which employees are required to provide services. Share-based compensation arrangements include stock options, restricted share plans, performance-based awards, share appreciation rights and employee share purchase plans. As such, compensation cost is measured on the date of grant at their fair value. Such compensation amounts, if any, are amortized over the respective vesting periods of the option grant. We apply this statement prospectively. Equity instruments (&#8220;instruments&#8221;) issued to other than employees are recorded on the basis of the fair value of the instruments, as required by ASC 718. ASC No. 505, <i>Equity Based Payments to Non-Employees </i>(&#8220;ASC 505&#8221;) defines the measurement date and recognition period for such instruments. In general, the measurement date is (a) when a performance commitment, as defined, is reached or (b) when the earlier of (i) the non-employee performance is complete or (ii) the instruments are vested. The measured value related to the instruments is recognized over a period based on the facts and circumstances of each particular grant as defined in the ASC 505.</p> <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><u>Accounting for Derivative Financial Instruments</u></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We evaluate financial instruments using the guidance provided by ASC 815 and apply the provisions thereof to the accounting of items identified as derivative financial instruments not indexed to our stock.</p> 35660469 -6670 <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b>NOTE 1 &#8211; CONDENSED FINANCIAL STATEMENTS</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b>&#160;</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The accompanying financial statements have been prepared by the Company without audit. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position, results and operations and cash flows at July 31, 2017 and for all periods presented herein, have been made.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted. It is suggested that these condensed financial statements be read in conjunction with the financial statements and notes thereto included in the Company&#8217;s April 30, 2017 and 2016 audited financial statements filed on Form 10K on August 15, 2017. The results of operations for the periods ended July 31, 2017 and 2016 are not necessarily indicative of the operating results for the full years.</p> <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b>NOTE 2 &#8211; SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>&#160;</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><u>Organization, Nature of Business and Trade Name</u></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>&#160;</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On October 31, 2011 (the &#8220;Closing Date&#8221;), China Advanced Technology acquired Goliath Film and Media International, a California corporation, by issuing 47,000,000 shares of its Common Stock, constituting 70.1% of the outstanding shares after giving effect to their issuance and the cancellation of 15,619,816 shares held by China Advanced Technology&#8217;s prior control person. Immediately following the Closing, 67,100,000 shares were issued and outstanding. On the Closing Date, the name of China Advanced Technology was changed to Goliath Film and Media Holdings (&#8220;Goliath&#8221;, &#8220;GFMH&#8221;, or &#8220;the Company&#8221;). All share numbers herein have been adjusted for an eight-for-1 forward stock split affected as of the Closing Date. The forward stock split was reflected in the trading market on February 13, 2012. The transaction was accounted for as a reverse acquisition in which Goliath Film and Media International is deemed to be the accounting acquirer, and the prior operations of Goliath (formerly China Advanced Technology) are consolidated for accounting purposes. Since Goliath had no operations, assets, or liabilities as of the Closing, no audit of that entity was required under the materiality thresholds of Regulation S-X Rule 8-04.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company is engaged in the distribution of motion pictures and digital content.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><u>Principles of Consolidation</u></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The accompanying consolidated financial statements include the accounts of the Company and its subsidiaries. All intercompany accounts and transactions have been eliminated.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><u>Basis of Presentation</u></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reported period. Actual results could differ from those estimates. Management further acknowledges that it is solely responsible for adopting sound accounting practices, establishing and maintaining a system of internal accounting control and preventing and detecting fraud. The Company&#8217;s system of internal accounting control is designed to assure, among other items, that (1) recorded transactions are valid; (2) all valid transactions are recorded and (3) transactions are recorded in the period in a timely manner to produce financial statements which present fairly the financial condition, results of operations and cash flows of the company for the respective periods being presented.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><u>Use of Estimates</u></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The preparation of financial statements in accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. A change in managements&#8217; estimates or assumptions could have a material impact on the Company&#8217;s financial condition and results of operations during the period in which such changes occurred.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Actual results could differ from those estimates. The Company&#8217;s financial statements reflect all adjustments that management believes are necessary for the fair presentation of their financial condition and results of operations for the periods presented.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><u>Accounts Receivable </u></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Accounts receivable, if any are carried at the expected net realizable value. The allowance for doubtful accounts, when determined, will be based on management&#8217;s assessment of the collectability of specific customer accounts and the aging of the accounts receivables. If there were a deterioration of a major customer&#8217;s creditworthiness, or actual defaults were higher than historical experience, our estimates of the recoverability of the amounts due to us could be overstated, which could have a negative impact on operations.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company currently does not have any accounts receivable. The above accounting policies will be adopted upon the Company carrying accounts receivable.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><u>Films and Televisions Costs</u></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company capitalizes production costs for films produced in accordance with ASC 926-20, &#8220;Entertainment-Films - Other Assets - Film Costs&#8221;. Accordingly, production costs are capitalized at actual cost and then charged against revenue quarterly as a cost of production based on the relative fair value of the film(s) delivered and recognized as revenue. The Company evaluates its capitalized production costs annually and limits recorded amounts by its ability to recover such costs through expected future sales. There was an impairment charge of $44,918 for fiscal year ending April 30, 2017. There was no amortization expense or impairment for the three months ended July 31, 2017 and 2016, respectively.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Film production costs include the unamortized costs of films in progress which are being produced by the Company.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">For films produced by the Company, capitalized costs include all direct production costs, and production overhead.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Costs of producing films are amortized using the individual-film-forecast method, whereby these costs are amortized and participations and residuals costs are accrued in the proportion that current year&#8217;s revenue bears to management&#8217;s estimate of ultimate revenue at the beginning of the current year expected to be recognized from the exploitation, exhibition or sale of the films. Ultimate revenue includes estimates over a period not to exceed ten years following the date of initial release of the motion picture.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Film production costs are stated at the lower of amortized cost or estimated fair value. The valuation of film production costs are reviewed on a title-by-title basis, when an event or change in circumstances indicates that the fair value of a film is less than its unamortized cost. During the three months ended July 31, 2017 and 2016, the Company recorded no impairment charges.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><u>Revenue Recognition</u></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We recognize revenues in accordance with ASC 926-605, &#8220;Entertainment Films, Revenue Recognition&#8221;.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Under ASC 926-605, five conditions must be met before revenue can be recognized: (i) there is persuasive evidence that an arrangement exists, (ii) the film is complete and has been delivered, (iii) the license period has begun, (iv) the price is fixed or determinable, and (v) collection is reasonably assured. The Company provides for an allowance for doubtful account based history and experience considering economic and industry trends. The Company does not have any off-Balance Sheet exposure related to its customers.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company recognizes revenue when the distributor confirms to the Company that the film has been delivered to the distributor with all technical and document deliveries received, waived or deferred and the film has been entered into the distributor&#8217;s rights system.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><u>Advertising</u></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Advertising expenses are recorded as general and administrative expenses when they are incurred. There was no advertising expense for the three months ended July 31, 2017 and 2016, respectively.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><u>Research and Development</u></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">All research and development costs are expensed as incurred. There was no research and development expense for the three months ended July 31, 2017 and 2016, respectively.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><u>Income tax</u></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We account for income taxes under the Financial Accounting Standards Board (&#8220;FASB&#8221;) Accounting Standards Codification (&#8220;ASC&#8221;) No. 740, Income Taxes (&#8220;ASC 740&#8221;). Under ASC 740, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Under ASC 740, the effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b>&#160;</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><u>Fair Value of Financial Instruments</u></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company follows the provisions of ASC 820. This Topic defines fair value, establishes a measurement framework and expands disclosures about fair value measurements.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company uses fair value measurements for determining the valuation of derivative financial instruments payable in shares of its common stock. This primarily involves option pricing models that incorporate certain assumptions and projections to determine fair value. These require management&#8217;s judgment.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><u>Fair Value Measurements</u></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b>&#160;</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">FASB ASC Topic 825, <i>Financial Instruments</i>, requires disclosures about fair value of financial instruments in quarterly reports as well as in annual reports. For the Company, this statement applies to certain investments and long-term debt. Also, the FASB ASC Topic 820, <i>Fair Value Measurements and Disclosures</i>, clarifies the definition of fair value for financial reporting, establishes a framework for measuring fair value and requires additional disclosures about the use of fair value measurements.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Various inputs are considered when determining the value of the Company&#8217;s investments and long-term debt. The inputs or methodologies used for valuing securities are not necessarily an indication of the risk associated with investing in these securities. These inputs are summarized in the three broad levels listed below.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p> <table cellspacing="0" cellpadding="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 48px; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#9679;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Level 1 &#8211; observable market inputs that are unadjusted quoted prices for identical assets or liabilities in active markets.</font></td></tr> <tr style="vertical-align: top"> <td style="text-align: justify">&#160;</td> <td style="text-align: justify">&#160;</td></tr> <tr style="vertical-align: top"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#9679;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Level 2 &#8211; other significant observable inputs (including quoted prices for similar securities, interest rates, credit risk, etc.).</font></td></tr> <tr style="vertical-align: top"> <td style="text-align: justify">&#160;</td> <td style="text-align: justify">&#160;</td></tr> <tr style="vertical-align: top"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#9679;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Level 3 &#8211; significant unobservable inputs (including the Company&#8217;s own assumptions in determining the fair value of investments).</font></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company&#8217;s adoption of FASB ASC Topic 825 did not have a material impact on the Company&#8217;s consolidated financial statements.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The carrying value of financial assets and liabilities recorded at fair value is measured on a recurring or nonrecurring basis. Financial assets and liabilities measured on a non-recurring basis are those that are adjusted to fair value when a significant event occurs. The Company had no financial assets or liabilities carried and measured on a nonrecurring basis during the reporting periods. Financial assets and liabilities measured on a recurring basis are those that are adjusted to fair value each time a financial statement is prepared. The Company had no financial assets and/or liabilities carried at fair value on a recurring basis at July 31, 2017, assets and liabilities approximate fair value due to their short term nature.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The availability of inputs observable in the market varies from instrument to instrument and depends on a variety of factors including the type of instrument, whether the instrument is actively traded, and other characteristics particular to the transaction. For many financial instruments, pricing inputs are readily observable in the market, the valuation methodology used is widely accepted by market participants, and the valuation does not require significant management discretion. For other financial instruments, pricing inputs are less observable in the market and may require management judgment. As of July 31, 2017, the Company had no assets other than prepaid expenses, cash, and capitalized film production costs.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><u>Basic and diluted earnings per share</u></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Basic earnings per share are based on the weighted-average number of shares of common stock outstanding. Diluted Earnings per share is based on the weighted-average number of shares of common stock outstanding adjusted for the effects of common stock that may be issued as a result of the following types of potentially dilutive instruments:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <table cellspacing="0" cellpadding="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 48px"><font style="font: 10pt Times New Roman, Times, Serif">&#9679;</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">Warrants,</font></td></tr> <tr style="vertical-align: top"> <td>&#160;</td> <td>&#160;</td></tr> <tr style="vertical-align: top"> <td><font style="font: 10pt Times New Roman, Times, Serif">&#9679;</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">Employee stock options, and</font></td></tr> <tr style="vertical-align: top"> <td>&#160;</td> <td>&#160;</td></tr> <tr style="vertical-align: top"> <td><font style="font: 10pt Times New Roman, Times, Serif">&#9679;</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">Other equity awards, which include long-term incentive awards.</font></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The FASB ASC Topic 260, <i>Earnings Per Share</i>, requires the Company to include additional shares in the computation of earnings per share, assuming dilution.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Diluted earnings per share is based on the assumption that all dilutive options were converted or exercised. Dilution is computed by applying the treasury stock method. Under this method, options are assumed to be exercised at the time of issuance, and as if funds obtained thereby were used to purchase common stock at the average market price during the period.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Basic and diluted earnings per share are the same as there were no potentially dilutive instruments for the three months ended July 31, 2017 and 2016, respectively.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><u>Concentrations, Risks, and Uncertainties</u></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company had one customer, Mar Vista Entertainment, that accounted for 100% of total revenue. The Company had no customers in the three months ended July 31, 2017 that accounted for 10% or more of total revenue.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><u>Stock Based Compensation</u></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In accordance with ASC No. 718, <i>Compensation &#8211; Stock Compensation</i> (&#8220;ASC 718&#8221;), we measure the compensation costs of share-based compensation arrangements based on the grant-date fair value and recognize the costs in the financial statements over the period during which employees are required to provide services. Share-based compensation arrangements include stock options, restricted share plans, performance-based awards, share appreciation rights and employee share purchase plans. As such, compensation cost is measured on the date of grant at their fair value. Such compensation amounts, if any, are amortized over the respective vesting periods of the option grant. We apply this statement prospectively. Equity instruments (&#8220;instruments&#8221;) issued to other than employees are recorded on the basis of the fair value of the instruments, as required by ASC 718. ASC No. 505, <i>Equity Based Payments to Non-Employees</i> (&#8220;ASC 505&#8221;) defines the measurement date and recognition period for such instruments. In general, the measurement date is (a) when a performance commitment, as defined, is reached or (b) when the earlier of (i) the non-employee performance is complete or (ii) the instruments are vested. The measured value related to the instruments is recognized over a period based on the facts and circumstances of each particular grant as defined in the ASC 505.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><u>Accounting for Derivative Financial Instruments</u></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We evaluate financial instruments using the guidance provided by ASC 815 and apply the provisions thereof to the accounting of items identified as derivative financial instruments not indexed to our stock.</p> <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b>NOTE 3 &#8211; RECENTLY ENACTED ACCOUNTING STANDARDS</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b>&#160;</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company does not expect the adoption of any other recent accounting pronouncements to have a material impact on its financial statements.</p> <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>NOTE 4 &#8211; FILM PRODUCTION AGREEMENTS</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On March 4, 2016, we signed a distribution agreement with Mar Vista Entertainment, LLC to distribute a feature length motion picture currently completed. Per the agreement, we will receive $125,000 in advance payments per an agreed delivery schedule for providing distribution rights on the motion picture &#8220;Bridal Bootcamp&#8221; a romantic comedy movie produced by Goliath for delivery to Mar Vista Entertainment LLC for distribution. Additionally, Mar Vista Entertainment, LLC will receive 35% of the gross proceeds for a period of 25 years on the motion picture. As of October 31, 2016, the Company has received $125,000 of the advance payments. Bridal Boot Camp was completed in October 2016 resulting in the recognition of the advance payments as revenue of $125,000 in October 2016. Mar Vista is distributing this film.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On September 18, 2015, we signed a distribution agreement with Mar Vista Entertainment, LLC to distribute a feature length motion picture currently completed. Per the agreement, we will receive $125,000 in advance payments per an agreed delivery schedule for providing distribution rights on the motion picture &#8220;Merry Exes&#8221; retitled &#8220;Girlfriends of Christmas Past&#8221; a Christmas holiday movie produced by Goliath and delivered to Mar Vista Entertainment LLC. for distribution. Additionally, Mar Vista Entertainment, LLC will receive 35% of the gross proceeds for a period of 25 years on the motion picture. As of July 31, 2016, we have received $125,000 of the advance payments. &#8220;Merry Exes/&#8221; &#8220;Girlfriends of Christmas Past was completed June 6, 2016 resulting in the recognition of the advance payments as revenue of $125,000 in June 2016. Mar Vista distributed this movie to UPTV.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On May 20, 2015, we signed a distribution agreement with Mar Vista Entertainment, LLC to distribute a feature length motion picture currently completed by us and being licensed by Mar Vista Entertainment, LLC. Per the agreement, we will receive $175,000 in advance payments per an agreed delivery schedule for providing distribution rights on the motion picture &#8220;Terror Birds&#8221; a science fiction movie produced by Goliath and delivered to Mar Vista Entertainment LLC. for distribution. Additionally, Mar Vista Entertainment, LLC will receive 30% of the gross proceeds for a period of 25 years on the film. As of April 30, 2016, the Company had received $175,000 of the advance payments. Terror Birds was completed December 14, 2015 resulting in the recognition of the advance payments as revenue of $175,000 in February 2016. Mar Vista is continuing to distribute this film.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On April 15, 2015 Goliath signed an agreement whereby the Company agreed to invest $15,000 to KKO Productions to produce a feature length motion picture known as &#8220;Forgiven&#8221;. Per the agreement Goliath will receive 15% of adjusted gross proceeds after its initial investment has been entirely recouped through adjusted gross proceeds. Additionally, the Company received two on screen credits as Executive Producer as well as receiving credit on all advertising, publicity and packaging of the motion picture. The investment of $15,000 presented in other assets on the balance sheet has not yet been repaid, due to the fact that no revenues will be generated until this motion picture&#8217;s released.</p> 1.00 0.10 0.35 0.35 0.30 0.15 98320 0.10 15000 EX-101.SCH 5 gfmh-20170731.xsd XBRL SCHEMA FILE 00000001 - Document - Document and Entity Information link:presentationLink link:calculationLink link:definitionLink 00000002 - Statement - Condensed Consolidated Balance Sheets link:presentationLink link:calculationLink link:definitionLink 00000003 - Statement - Condensed Consolidated Balance Sheets (Parenthetical) link:presentationLink link:calculationLink link:definitionLink 00000004 - Statement - Condensed Consolidated Statements of Operations (Unaudited) link:presentationLink link:calculationLink link:definitionLink 00000005 - Statement - Condensed Consolidated Statements of Cash Flows (Unaudited) link:presentationLink link:calculationLink link:definitionLink 00000006 - Disclosure - Condensed Financial Statements link:presentationLink link:calculationLink link:definitionLink 00000007 - Disclosure - Summary of Significant Accounting Policies link:presentationLink link:calculationLink link:definitionLink 00000008 - Disclosure - Recently Enacted Accounting Standards link:presentationLink link:calculationLink link:definitionLink 00000009 - Disclosure - Film Production Agreements link:presentationLink link:calculationLink link:definitionLink 00000010 - Disclosure - Common Stock link:presentationLink link:calculationLink link:definitionLink 00000011 - Disclosure - Going Concern link:presentationLink link:calculationLink link:definitionLink 00000012 - Disclosure - Related Party Transactions link:presentationLink link:calculationLink link:definitionLink 00000013 - Disclosure - Commitments and Contingencies link:presentationLink link:calculationLink link:definitionLink 00000014 - Disclosure - Subsequent Events link:presentationLink link:calculationLink link:definitionLink 00000015 - Disclosure - Summary of Significant Accounting Policies (Policies) link:presentationLink link:calculationLink link:definitionLink 00000016 - Disclosure - Summary of Significant Accounting Policies (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 00000017 - Disclosure - Film Production Agreements (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 00000018 - Disclosure - Common Stock (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 00000019 - Disclosure - Related Party Transactions (Details Narrative) link:presentationLink link:calculationLink link:definitionLink EX-101.CAL 6 gfmh-20170731_cal.xml XBRL CALCULATION FILE EX-101.DEF 7 gfmh-20170731_def.xml XBRL DEFINITION FILE EX-101.LAB 8 gfmh-20170731_lab.xml XBRL LABEL FILE Consolidated Entities [Axis] China Advanced Technology [Member] Legal Entity [Axis] Mar Vista Entertainment, LLC [Member] Type of Arrangement and Non-arrangement Transactions [Axis] Distribution Agreement [Member] KKO Productions [Member] Finite-Lived Intangible Assets by Major Class [Axis] Bridal Boot Camp [Member] Merry Exes [Member] Customer [Axis] One Customer [Member] No Customer [Member] Terror Birds [Member] Related Party [Axis] Affiliated Shareholders [Member] Subsidiary, Sale of Stock [Axis] Private Placement [Member] C&R Film [Member] Range [Axis] Minimum [Member] Document And Entity Information Entity Registrant Name Entity Central Index Key Document Type Document Period End Date Amendment Flag Current Fiscal Year End Date Entity Filer Category Entity Common Stock, Shares Outstanding Trading Symbol Document Fiscal Period Focus Document Fiscal Year Focus Statement of Financial Position [Abstract] ASSETS Current assets Cash Prepaid expenses Total current assets Long-term assets Other assets Film production costs, net Total long-term assets Total assets LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities Accounts payable and accrued expenses Total current liabilities Total liabilities Stockholders' equity Preferred stock, $0.001 par value, 1,000,000 shares authorized; no shares issued and outstanding at July 31, 2017 and April 30, 2017 Common stock, $0.001 par value, 300,000,000 shares authorized; 174,625,386 and 174,625,386 shares issued and outstanding, at July 31, 2017 and April 30, 2017 Additional paid in capital Accumulated deficit Total stockholders' equity Total liabilities and stockholders’ equity Preferred stock, par value Preferred stock, shares authorized Preferred stock, shares issued Preferred stock, shares outstanding Common stock, par value Common stock, shares authorized Common stock, shares issued Common stock, shares outstanding Income Statement [Abstract] Film production revenues Cost of sales Gross profit Operating expenses General and administrative Total operating expenses Income (loss) from operations Income (loss) before income taxes Provision for income taxes Net income (loss) Net income (loss) per share of common stock: Basic and diluted Weighted average shares Outstanding – basic and diluted Statement of Cash Flows [Abstract] Cash flows from operating activities Net income (loss) Changes in operating assets and liabilities: Film production costs Accounts payable Net cash used in operating activities Cash flows from investing activities Net cash provided by investing activities Cash flows from financing activities Proceeds from issuance of common stock Line of credit Net cash provided by financing activities Net change in cash Cash at beginning of period Cash at end of period Supplemental disclosure of non-cash investing and financing activities: Supplemental disclosure of cash flow information: Cash paid for interest Cash paid for taxes Organization, Consolidation and Presentation of Financial Statements [Abstract] Condensed Financial Statements Accounting Policies [Abstract] Summary of Significant Accounting Policies Accounting Changes and Error Corrections [Abstract] Recently Enacted Accounting Standards Film Production Agreements Film Production Agreements Equity [Abstract] Common Stock Going Concern Related Party Transactions [Abstract] Related Party Transactions Commitments and Contingencies Disclosure [Abstract] Commitments and Contingencies Subsequent Events [Abstract] Subsequent Events Organization, Nature of Business and Trade Name Principles of Consolidation Basis of Presentation Use of Estimates Accounts Receivable Films and Televisions Costs Revenue Recognition Advertising Research and Development Income Tax Fair Value of Financial Instruments Fair Value Measurements Basic and Diluted Earnings Per Share Concentrations, Risks, and Uncertainties Stock Based Compensation Accounting for Derivative Financial Instruments Statement [Table] Statement [Line Items] Stock issuing for acquisition Constituting outstanding shares Cancellation share Common stock, issued Common stock, outstanding Forward stock split Impairment charges Advertising costs Research and development expense Potentially dilutive instruments Percentage of concentration risk gross of business with suppliers or customers Advance payments Gross proceeds percentage Investment in films Investment in other assets Common stock not yet issued Sale of Stock [Axis] Number of restricted common stock shares sold during period, shares Memorandum exchange rate Memorandum in exchange value Consulting and reimbursement expenses Agreement [Axis] Bridal Boot Camp [Member] Brightfilm Productions [Member] C&amp;amp;R Film [Member] CJ Creative Productions [Member] Debbie criscione [Member]. Distribution Agreement [Member]. KKO Productions [Member]. Lamont Roberts [Member] Mar Vista Entertainment, LLC [Member] Merry Exes [Member] Mike Criscione [Member] No Customer [Member] Non-Exclusive License [Member] One Customer [Member] Organization, Nature of Business and Trade Name [Policy Text Block] President And Chief Executive Officer [Member] Production Agreement [Member] Production Agreement [Member] Production Agreements [Member]. Terror Birds [Member] Third Party [Member] Two Credit Cards [Member] Film Production Agreements [Text Block] Gross proceeds percentage. Memorandum exchange rate. Assets, Current Assets, Noncurrent Assets Liabilities, Current Liabilities Stockholders' Equity Attributable to Parent Liabilities and Equity Gross Profit Operating Expenses Operating Income (Loss) Income Tax Expense (Benefit) Increase (Decrease) in Film Costs Net Cash Provided by (Used in) Operating Activities Net Cash Provided by (Used in) Financing Activities Cash and Cash Equivalents, Period Increase (Decrease) FilmProductionAgreementsTextBlock EX-101.PRE 9 gfmh-20170731_pre.xml XBRL PRESENTATION FILE XML 10 R1.htm IDEA: XBRL DOCUMENT v3.7.0.1
Document and Entity Information - shares
3 Months Ended
Jul. 31, 2017
Aug. 31, 2017
Document And Entity Information    
Entity Registrant Name Goliath Film & Media Holdings  
Entity Central Index Key 0000820771  
Document Type 10-Q  
Document Period End Date Jul. 31, 2017  
Amendment Flag false  
Current Fiscal Year End Date --04-30  
Entity Filer Category Smaller Reporting Company  
Entity Common Stock, Shares Outstanding   174,625,386
Trading Symbol GFMH  
Document Fiscal Period Focus Q1  
Document Fiscal Year Focus 2018  
XML 11 R2.htm IDEA: XBRL DOCUMENT v3.7.0.1
Condensed Consolidated Balance Sheets - USD ($)
Jul. 31, 2017
Apr. 30, 2017
Current assets    
Cash $ 655 $ 2,468
Prepaid expenses 299 299
Total current assets 954 2,767
Long-term assets    
Other assets 15,000 15,000
Film production costs, net 351,607 351,607
Total long-term assets 366,607 366,607
Total assets 367,561 369,374
Current liabilities    
Accounts payable and accrued expenses 23,988 23,988
Total current liabilities 23,988 23,988
Total liabilities 23,988 23,988
Stockholders' equity    
Preferred stock, $0.001 par value, 1,000,000 shares authorized; no shares issued and outstanding at July 31, 2017 and April 30, 2017
Common stock, $0.001 par value, 300,000,000 shares authorized; 174,625,386 and 174,625,386 shares issued and outstanding, at July 31, 2017 and April 30, 2017 174,626 174,626
Additional paid in capital 772,444 772,444
Accumulated deficit (603,497) (601,684)
Total stockholders' equity 343,573 345,386
Total liabilities and stockholders’ equity $ 367,561 $ 369,374
XML 12 R3.htm IDEA: XBRL DOCUMENT v3.7.0.1
Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares
Jul. 31, 2017
Apr. 30, 2017
Oct. 31, 2011
Statement of Financial Position [Abstract]      
Preferred stock, par value $ 0.001 $ 0.001  
Preferred stock, shares authorized 1,000,000 1,000,000  
Preferred stock, shares issued  
Preferred stock, shares outstanding  
Common stock, par value $ 0.001 $ 0.001  
Common stock, shares authorized 300,000,000 300,000,000  
Common stock, shares issued 174,625,386 174,625,386 67,100,000
Common stock, shares outstanding 174,625,386 174,625,386 67,100,000
XML 13 R4.htm IDEA: XBRL DOCUMENT v3.7.0.1
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended
Jul. 31, 2017
Jul. 31, 2016
Income Statement [Abstract]    
Film production revenues $ 125,000
Cost of sales 66,812
Gross profit 58,188
Operating expenses    
General and administrative 1,813 9,900
Total operating expenses 1,813 9,900
Income (loss) from operations (1,813) 48,288
Income (loss) before income taxes (1,813) 48,288
Provision for income taxes (330)
Net income (loss) $ (1,813) $ 47,958
Net income (loss) per share of common stock:    
Basic and diluted $ (0.00) $ (0.00)
Weighted average shares Outstanding – basic and diluted 174,625,386 163,421,308
XML 14 R5.htm IDEA: XBRL DOCUMENT v3.7.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Jul. 31, 2017
Jul. 31, 2016
Cash flows from operating activities    
Net income (loss) $ (1,813) $ 47,958
Changes in operating assets and liabilities:    
Film production costs (147,292)
Accounts payable (6,670)
Net cash used in operating activities (1,813) (106,004)
Cash flows from investing activities    
Net cash provided by investing activities
Cash flows from financing activities    
Proceeds from issuance of common stock 98,320
Line of credit 242
Net cash provided by financing activities 98,562
Net change in cash (1,813) (7,442)
Cash at beginning of period 2,468 25,310
Cash at end of period 655 17,868
Supplemental disclosure of cash flow information:    
Cash paid for interest
Cash paid for taxes
XML 15 R6.htm IDEA: XBRL DOCUMENT v3.7.0.1
Condensed Financial Statements
3 Months Ended
Jul. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Condensed Financial Statements

NOTE 1 – CONDENSED FINANCIAL STATEMENTS

 

The accompanying financial statements have been prepared by the Company without audit. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position, results and operations and cash flows at July 31, 2017 and for all periods presented herein, have been made.

 

Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted. It is suggested that these condensed financial statements be read in conjunction with the financial statements and notes thereto included in the Company’s April 30, 2017 and 2016 audited financial statements filed on Form 10K on August 15, 2017. The results of operations for the periods ended July 31, 2017 and 2016 are not necessarily indicative of the operating results for the full years.

XML 16 R7.htm IDEA: XBRL DOCUMENT v3.7.0.1
Summary of Significant Accounting Policies
3 Months Ended
Jul. 31, 2017
Accounting Policies [Abstract]  
Summary of Significant Accounting Policies

NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

 

Organization, Nature of Business and Trade Name

 

On October 31, 2011 (the “Closing Date”), China Advanced Technology acquired Goliath Film and Media International, a California corporation, by issuing 47,000,000 shares of its Common Stock, constituting 70.1% of the outstanding shares after giving effect to their issuance and the cancellation of 15,619,816 shares held by China Advanced Technology’s prior control person. Immediately following the Closing, 67,100,000 shares were issued and outstanding. On the Closing Date, the name of China Advanced Technology was changed to Goliath Film and Media Holdings (“Goliath”, “GFMH”, or “the Company”). All share numbers herein have been adjusted for an eight-for-1 forward stock split affected as of the Closing Date. The forward stock split was reflected in the trading market on February 13, 2012. The transaction was accounted for as a reverse acquisition in which Goliath Film and Media International is deemed to be the accounting acquirer, and the prior operations of Goliath (formerly China Advanced Technology) are consolidated for accounting purposes. Since Goliath had no operations, assets, or liabilities as of the Closing, no audit of that entity was required under the materiality thresholds of Regulation S-X Rule 8-04.

 

The Company is engaged in the distribution of motion pictures and digital content.

 

Principles of Consolidation

 

The accompanying consolidated financial statements include the accounts of the Company and its subsidiaries. All intercompany accounts and transactions have been eliminated.

 

Basis of Presentation

 

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reported period. Actual results could differ from those estimates. Management further acknowledges that it is solely responsible for adopting sound accounting practices, establishing and maintaining a system of internal accounting control and preventing and detecting fraud. The Company’s system of internal accounting control is designed to assure, among other items, that (1) recorded transactions are valid; (2) all valid transactions are recorded and (3) transactions are recorded in the period in a timely manner to produce financial statements which present fairly the financial condition, results of operations and cash flows of the company for the respective periods being presented.

 

Use of Estimates

 

The preparation of financial statements in accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. A change in managements’ estimates or assumptions could have a material impact on the Company’s financial condition and results of operations during the period in which such changes occurred.

  

Actual results could differ from those estimates. The Company’s financial statements reflect all adjustments that management believes are necessary for the fair presentation of their financial condition and results of operations for the periods presented.

 

Accounts Receivable

 

Accounts receivable, if any are carried at the expected net realizable value. The allowance for doubtful accounts, when determined, will be based on management’s assessment of the collectability of specific customer accounts and the aging of the accounts receivables. If there were a deterioration of a major customer’s creditworthiness, or actual defaults were higher than historical experience, our estimates of the recoverability of the amounts due to us could be overstated, which could have a negative impact on operations.

 

The Company currently does not have any accounts receivable. The above accounting policies will be adopted upon the Company carrying accounts receivable.

 

Films and Televisions Costs

 

The Company capitalizes production costs for films produced in accordance with ASC 926-20, “Entertainment-Films - Other Assets - Film Costs”. Accordingly, production costs are capitalized at actual cost and then charged against revenue quarterly as a cost of production based on the relative fair value of the film(s) delivered and recognized as revenue. The Company evaluates its capitalized production costs annually and limits recorded amounts by its ability to recover such costs through expected future sales. There was an impairment charge of $44,918 for fiscal year ending April 30, 2017. There was no amortization expense or impairment for the three months ended July 31, 2017 and 2016, respectively.

 

Film production costs include the unamortized costs of films in progress which are being produced by the Company.

 

For films produced by the Company, capitalized costs include all direct production costs, and production overhead.

 

Costs of producing films are amortized using the individual-film-forecast method, whereby these costs are amortized and participations and residuals costs are accrued in the proportion that current year’s revenue bears to management’s estimate of ultimate revenue at the beginning of the current year expected to be recognized from the exploitation, exhibition or sale of the films. Ultimate revenue includes estimates over a period not to exceed ten years following the date of initial release of the motion picture.

 

Film production costs are stated at the lower of amortized cost or estimated fair value. The valuation of film production costs are reviewed on a title-by-title basis, when an event or change in circumstances indicates that the fair value of a film is less than its unamortized cost. During the three months ended July 31, 2017 and 2016, the Company recorded no impairment charges.

 

Revenue Recognition

 

We recognize revenues in accordance with ASC 926-605, “Entertainment Films, Revenue Recognition”.

 

Under ASC 926-605, five conditions must be met before revenue can be recognized: (i) there is persuasive evidence that an arrangement exists, (ii) the film is complete and has been delivered, (iii) the license period has begun, (iv) the price is fixed or determinable, and (v) collection is reasonably assured. The Company provides for an allowance for doubtful account based history and experience considering economic and industry trends. The Company does not have any off-Balance Sheet exposure related to its customers.

 

The Company recognizes revenue when the distributor confirms to the Company that the film has been delivered to the distributor with all technical and document deliveries received, waived or deferred and the film has been entered into the distributor’s rights system.

 

Advertising

 

Advertising expenses are recorded as general and administrative expenses when they are incurred. There was no advertising expense for the three months ended July 31, 2017 and 2016, respectively.

 

Research and Development

 

All research and development costs are expensed as incurred. There was no research and development expense for the three months ended July 31, 2017 and 2016, respectively.

 

Income tax

 

We account for income taxes under the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) No. 740, Income Taxes (“ASC 740”). Under ASC 740, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Under ASC 740, the effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date.

 

Fair Value of Financial Instruments

 

The Company follows the provisions of ASC 820. This Topic defines fair value, establishes a measurement framework and expands disclosures about fair value measurements.

 

The Company uses fair value measurements for determining the valuation of derivative financial instruments payable in shares of its common stock. This primarily involves option pricing models that incorporate certain assumptions and projections to determine fair value. These require management’s judgment.

 

Fair Value Measurements

 

FASB ASC Topic 825, Financial Instruments, requires disclosures about fair value of financial instruments in quarterly reports as well as in annual reports. For the Company, this statement applies to certain investments and long-term debt. Also, the FASB ASC Topic 820, Fair Value Measurements and Disclosures, clarifies the definition of fair value for financial reporting, establishes a framework for measuring fair value and requires additional disclosures about the use of fair value measurements.

 

Various inputs are considered when determining the value of the Company’s investments and long-term debt. The inputs or methodologies used for valuing securities are not necessarily an indication of the risk associated with investing in these securities. These inputs are summarized in the three broad levels listed below.

 

Level 1 – observable market inputs that are unadjusted quoted prices for identical assets or liabilities in active markets.
   
Level 2 – other significant observable inputs (including quoted prices for similar securities, interest rates, credit risk, etc.).
   
Level 3 – significant unobservable inputs (including the Company’s own assumptions in determining the fair value of investments).

 

The Company’s adoption of FASB ASC Topic 825 did not have a material impact on the Company’s consolidated financial statements.

 

The carrying value of financial assets and liabilities recorded at fair value is measured on a recurring or nonrecurring basis. Financial assets and liabilities measured on a non-recurring basis are those that are adjusted to fair value when a significant event occurs. The Company had no financial assets or liabilities carried and measured on a nonrecurring basis during the reporting periods. Financial assets and liabilities measured on a recurring basis are those that are adjusted to fair value each time a financial statement is prepared. The Company had no financial assets and/or liabilities carried at fair value on a recurring basis at July 31, 2017, assets and liabilities approximate fair value due to their short term nature.

 

The availability of inputs observable in the market varies from instrument to instrument and depends on a variety of factors including the type of instrument, whether the instrument is actively traded, and other characteristics particular to the transaction. For many financial instruments, pricing inputs are readily observable in the market, the valuation methodology used is widely accepted by market participants, and the valuation does not require significant management discretion. For other financial instruments, pricing inputs are less observable in the market and may require management judgment. As of July 31, 2017, the Company had no assets other than prepaid expenses, cash, and capitalized film production costs.

 

Basic and diluted earnings per share

 

Basic earnings per share are based on the weighted-average number of shares of common stock outstanding. Diluted Earnings per share is based on the weighted-average number of shares of common stock outstanding adjusted for the effects of common stock that may be issued as a result of the following types of potentially dilutive instruments:

 

Warrants,
   
Employee stock options, and
   
Other equity awards, which include long-term incentive awards.

 

The FASB ASC Topic 260, Earnings Per Share, requires the Company to include additional shares in the computation of earnings per share, assuming dilution.

 

Diluted earnings per share is based on the assumption that all dilutive options were converted or exercised. Dilution is computed by applying the treasury stock method. Under this method, options are assumed to be exercised at the time of issuance, and as if funds obtained thereby were used to purchase common stock at the average market price during the period.

 

Basic and diluted earnings per share are the same as there were no potentially dilutive instruments for the three months ended July 31, 2017 and 2016, respectively.

 

Concentrations, Risks, and Uncertainties

 

The Company had one customer, Mar Vista Entertainment, that accounted for 100% of total revenue. The Company had no customers in the three months ended July 31, 2017 that accounted for 10% or more of total revenue.

 

Stock Based Compensation

 

In accordance with ASC No. 718, Compensation – Stock Compensation (“ASC 718”), we measure the compensation costs of share-based compensation arrangements based on the grant-date fair value and recognize the costs in the financial statements over the period during which employees are required to provide services. Share-based compensation arrangements include stock options, restricted share plans, performance-based awards, share appreciation rights and employee share purchase plans. As such, compensation cost is measured on the date of grant at their fair value. Such compensation amounts, if any, are amortized over the respective vesting periods of the option grant. We apply this statement prospectively. Equity instruments (“instruments”) issued to other than employees are recorded on the basis of the fair value of the instruments, as required by ASC 718. ASC No. 505, Equity Based Payments to Non-Employees (“ASC 505”) defines the measurement date and recognition period for such instruments. In general, the measurement date is (a) when a performance commitment, as defined, is reached or (b) when the earlier of (i) the non-employee performance is complete or (ii) the instruments are vested. The measured value related to the instruments is recognized over a period based on the facts and circumstances of each particular grant as defined in the ASC 505.

  

Accounting for Derivative Financial Instruments

 

We evaluate financial instruments using the guidance provided by ASC 815 and apply the provisions thereof to the accounting of items identified as derivative financial instruments not indexed to our stock.

XML 17 R8.htm IDEA: XBRL DOCUMENT v3.7.0.1
Recently Enacted Accounting Standards
3 Months Ended
Jul. 31, 2017
Accounting Changes and Error Corrections [Abstract]  
Recently Enacted Accounting Standards

NOTE 3 – RECENTLY ENACTED ACCOUNTING STANDARDS

 

The Company does not expect the adoption of any other recent accounting pronouncements to have a material impact on its financial statements.

XML 18 R9.htm IDEA: XBRL DOCUMENT v3.7.0.1
Film Production Agreements
3 Months Ended
Jul. 31, 2017
Film Production Agreements  
Film Production Agreements

NOTE 4 – FILM PRODUCTION AGREEMENTS

 

On March 4, 2016, we signed a distribution agreement with Mar Vista Entertainment, LLC to distribute a feature length motion picture currently completed. Per the agreement, we will receive $125,000 in advance payments per an agreed delivery schedule for providing distribution rights on the motion picture “Bridal Bootcamp” a romantic comedy movie produced by Goliath for delivery to Mar Vista Entertainment LLC for distribution. Additionally, Mar Vista Entertainment, LLC will receive 35% of the gross proceeds for a period of 25 years on the motion picture. As of October 31, 2016, the Company has received $125,000 of the advance payments. Bridal Boot Camp was completed in October 2016 resulting in the recognition of the advance payments as revenue of $125,000 in October 2016. Mar Vista is distributing this film.

 

On September 18, 2015, we signed a distribution agreement with Mar Vista Entertainment, LLC to distribute a feature length motion picture currently completed. Per the agreement, we will receive $125,000 in advance payments per an agreed delivery schedule for providing distribution rights on the motion picture “Merry Exes” retitled “Girlfriends of Christmas Past” a Christmas holiday movie produced by Goliath and delivered to Mar Vista Entertainment LLC. for distribution. Additionally, Mar Vista Entertainment, LLC will receive 35% of the gross proceeds for a period of 25 years on the motion picture. As of July 31, 2016, we have received $125,000 of the advance payments. “Merry Exes/” “Girlfriends of Christmas Past was completed June 6, 2016 resulting in the recognition of the advance payments as revenue of $125,000 in June 2016. Mar Vista distributed this movie to UPTV.

 

On May 20, 2015, we signed a distribution agreement with Mar Vista Entertainment, LLC to distribute a feature length motion picture currently completed by us and being licensed by Mar Vista Entertainment, LLC. Per the agreement, we will receive $175,000 in advance payments per an agreed delivery schedule for providing distribution rights on the motion picture “Terror Birds” a science fiction movie produced by Goliath and delivered to Mar Vista Entertainment LLC. for distribution. Additionally, Mar Vista Entertainment, LLC will receive 30% of the gross proceeds for a period of 25 years on the film. As of April 30, 2016, the Company had received $175,000 of the advance payments. Terror Birds was completed December 14, 2015 resulting in the recognition of the advance payments as revenue of $175,000 in February 2016. Mar Vista is continuing to distribute this film.

 

On April 15, 2015 Goliath signed an agreement whereby the Company agreed to invest $15,000 to KKO Productions to produce a feature length motion picture known as “Forgiven”. Per the agreement Goliath will receive 15% of adjusted gross proceeds after its initial investment has been entirely recouped through adjusted gross proceeds. Additionally, the Company received two on screen credits as Executive Producer as well as receiving credit on all advertising, publicity and packaging of the motion picture. The investment of $15,000 presented in other assets on the balance sheet has not yet been repaid, due to the fact that no revenues will be generated until this motion picture’s released.

XML 19 R10.htm IDEA: XBRL DOCUMENT v3.7.0.1
Common Stock
3 Months Ended
Jul. 31, 2017
Equity [Abstract]  
Common Stock

NOTE 5 – COMMON STOCK

 

The Company has authorized 1,000,000 shares of preferred stock, $0.001 par value, with such rights, preferences and designation and to be issued in such series as determined by the Board of Directors. No shares of preferred stock are issued and outstanding at July 31, 2017 and April 30, 2017.

 

The Company has authorized 300,000,000 shares of par value $0.001 common stock, of which 174,625,836 and 174,625,836 shares are outstanding at July 31, 2017 and April 30, 2017, respectively. The Company has not yet issued 35,660,469 common shares to a related party affiliate.

 

During the three months ended July 31, 2017, the Company did not enter into any private placement memorandums.

XML 20 R11.htm IDEA: XBRL DOCUMENT v3.7.0.1
Going Concern
3 Months Ended
Jul. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Going Concern

NOTE 6 – GOING CONCERN

 

The Company’s financial statements are prepared using accounting principles generally accepted in the United States of America applicable to a going concern, which contemplates the realization of assets and liquidation of liabilities in the normal course of business. However, the Company does not have significant cash or other current assets, nor does it have an established source of revenues sufficient to cover its operating costs and to allow it to continue as a going concern.

 

Under the going concern assumption, an entity is ordinarily viewed as continuing in business for the foreseeable future with neither the intention nor the necessity of liquidation, ceasing trading, or seeking protection from creditors pursuant to laws or regulations. Accordingly, assets and liabilities are recorded on the basis that the entity will be able to realize its assets and discharge its liabilities in the normal course of business.

 

The ability of the Company to continue as a going concern is dependent upon its ability to successfully accomplish the plan described in the preceding paragraph and eventually attain profitable operations. The accompanying financial statements do not include any adjustments that may be necessary if the Company is unable to continue as a going concern.

 

During the next year, the Company’s foreseeable cash requirements will relate to continual development of the operations of its business, maintaining its good standing and making the requisite filings with the Securities and Exchange Commission, and the payment of expenses associated with reviewing or investigating any potential business ventures. The Company may experience a cash shortfall and be required to raise additional capital.

 

Historically, the Company has relied upon internally generated funds and funds from the sale of shares of stock to finance its operations and growth. Management may raise additional capital through future public or private offerings of the Company’s stock or through loans from private investors, although there can be no assurance that it will be able to obtain such financing. The Company’s failure to do so could have a material and adverse effect upon its and its shareholders.

 

In the past year, the Company funded operations by using cash proceeds received through the issuance of common stock. For the coming year, the Company plans to continue to fund the Company through debt and securities sales and issuances, focus on a possible joint venture or merger until the company generates revenues through the operations of such merged company or joint venture as stated above.

XML 21 R12.htm IDEA: XBRL DOCUMENT v3.7.0.1
Related Party Transactions
3 Months Ended
Jul. 31, 2017
Related Party Transactions [Abstract]  
Related Party Transactions

NOTE 7 - RELATED PARTY TRANSACTIONS

 

During the three months ended July 31, 2017, the Company did not enter into any private placement memorandums. During the three months ended July 31, 2016, the Company sold 9,832,000 restricted common shares to a related party affiliate shareholder, as a result of being a greater than 10% shareholder, pursuant to a private placement memorandum in exchange for $98,320.

 

In three months ended July 31, 2017 and 2016, the Company paid C&R Film for film production costs and reimbursement of various expenses of $0 and $58,134, respectively. C&R Film is controlled by Lamont Robert, CEO and Acting CFO of the Company.

 

Related party transactions have been disclosed in the other notes to these financial statements.

XML 22 R13.htm IDEA: XBRL DOCUMENT v3.7.0.1
Commitments and Contingencies
3 Months Ended
Jul. 31, 2017
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies

NOTE 8 - COMMITMENTS AND CONTINGENCIES

 

Production Agreements

 

The Company has signed three distribution agreements with Mar Vista Entertainment, LLC to distribute feature length motion pictures. See Note 4.

 

Legal

 

The Company is not a party to or otherwise involved in any legal proceedings.

 

In the ordinary course of business, from time to time the Company may be involved in various pending or threatened legal actions. The litigation process is inherently uncertain and it is possible that the resolution of such matters might have a material adverse effect upon the Company’s financial condition and/or results of operations. However, in the opinion of management, other than as set forth herein, matters currently pending or threatened against the Company are not expected to have a material adverse effect on its financial position or results of operations.

XML 23 R14.htm IDEA: XBRL DOCUMENT v3.7.0.1
Subsequent Events
3 Months Ended
Jul. 31, 2017
Subsequent Events [Abstract]  
Subsequent Events

NOTE 9 – SUBSEQUENT EVENTS

 

During the period ended July 31, 2017 there were no subsequent events.

XML 24 R15.htm IDEA: XBRL DOCUMENT v3.7.0.1
Summary of Significant Accounting Policies (Policies)
3 Months Ended
Jul. 31, 2017
Accounting Policies [Abstract]  
Organization, Nature of Business and Trade Name

Organization, Nature of Business and Trade Name

 

On October 31, 2011 (the “Closing Date”), China Advanced Technology acquired Goliath Film and Media International, a California corporation, by issuing 47,000,000 shares of its Common Stock, constituting 70.1% of the outstanding shares after giving effect to their issuance and the cancellation of 15,619,816 shares held by China Advanced Technology’s prior control person. Immediately following the Closing, 67,100,000 shares were issued and outstanding. On the Closing Date, the name of China Advanced Technology was changed to Goliath Film and Media Holdings (“Goliath”, “GFMH”, or “the Company”). All share numbers herein have been adjusted for an eight-for-1 forward stock split affected as of the Closing Date. The forward stock split was reflected in the trading market on February 13, 2012. The transaction was accounted for as a reverse acquisition in which Goliath Film and Media International is deemed to be the accounting acquirer, and the prior operations of Goliath (formerly China Advanced Technology) are consolidated for accounting purposes. Since Goliath had no operations, assets, or liabilities as of the Closing, no audit of that entity was required under the materiality thresholds of Regulation S-X Rule 8-04.

 

The Company is engaged in the distribution of motion pictures and digital content.

Principles of Consolidation

Principles of Consolidation

 

The accompanying consolidated financial statements include the accounts of the Company and its subsidiaries. All intercompany accounts and transactions have been eliminated.

Basis of Presentation

Basis of Presentation

 

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reported period. Actual results could differ from those estimates. Management further acknowledges that it is solely responsible for adopting sound accounting practices, establishing and maintaining a system of internal accounting control and preventing and detecting fraud. The Company’s system of internal accounting control is designed to assure, among other items, that (1) recorded transactions are valid; (2) all valid transactions are recorded and (3) transactions are recorded in the period in a timely manner to produce financial statements which present fairly the financial condition, results of operations and cash flows of the company for the respective periods being presented.

Use of Estimates

Use of Estimates

 

The preparation of financial statements in accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. A change in managements’ estimates or assumptions could have a material impact on the Company’s financial condition and results of operations during the period in which such changes occurred.

  

Actual results could differ from those estimates. The Company’s financial statements reflect all adjustments that management believes are necessary for the fair presentation of their financial condition and results of operations for the periods presented.

Accounts Receivable

Accounts Receivable

 

Accounts receivable, if any are carried at the expected net realizable value. The allowance for doubtful accounts, when determined, will be based on management’s assessment of the collectability of specific customer accounts and the aging of the accounts receivables. If there were a deterioration of a major customer’s creditworthiness, or actual defaults were higher than historical experience, our estimates of the recoverability of the amounts due to us could be overstated, which could have a negative impact on operations.

 

The Company currently does not have any accounts receivable. The above accounting policies will be adopted upon the Company carrying accounts receivable.

Films and Televisions Costs

Films and Televisions Costs

 

The Company capitalizes production costs for films produced in accordance with ASC 926-20, “Entertainment-Films - Other Assets - Film Costs”. Accordingly, production costs are capitalized at actual cost and then charged against revenue quarterly as a cost of production based on the relative fair value of the film(s) delivered and recognized as revenue. The Company evaluates its capitalized production costs annually and limits recorded amounts by its ability to recover such costs through expected future sales. There was an impairment charge of $44,918 for fiscal year ending April 30, 2017. There was no amortization expense or impairment for the three months ended July 31, 2017 and 2016, respectively.

 

Film production costs include the unamortized costs of films in progress which are being produced by the Company.

 

For films produced by the Company, capitalized costs include all direct production costs, and production overhead.

 

Costs of producing films are amortized using the individual-film-forecast method, whereby these costs are amortized and participations and residuals costs are accrued in the proportion that current year’s revenue bears to management’s estimate of ultimate revenue at the beginning of the current year expected to be recognized from the exploitation, exhibition or sale of the films. Ultimate revenue includes estimates over a period not to exceed ten years following the date of initial release of the motion picture.

 

Film production costs are stated at the lower of amortized cost or estimated fair value. The valuation of film production costs are reviewed on a title-by-title basis, when an event or change in circumstances indicates that the fair value of a film is less than its unamortized cost. During the three months ended July 31, 2017 and 2016, the Company recorded no impairment charges.

Revenue Recognition

Revenue Recognition

 

We recognize revenues in accordance with ASC 926-605, “Entertainment Films, Revenue Recognition”.

 

Under ASC 926-605, five conditions must be met before revenue can be recognized: (i) there is persuasive evidence that an arrangement exists, (ii) the film is complete and has been delivered, (iii) the license period has begun, (iv) the price is fixed or determinable, and (v) collection is reasonably assured. The Company provides for an allowance for doubtful account based history and experience considering economic and industry trends. The Company does not have any off-Balance Sheet exposure related to its customers.

 

The Company recognizes revenue when the distributor confirms to the Company that the film has been delivered to the distributor with all technical and document deliveries received, waived or deferred and the film has been entered into the distributor’s rights system.

Advertising

Advertising

 

Advertising expenses are recorded as general and administrative expenses when they are incurred. There was no advertising expense for the three months ended July 31, 2017 and 2016, respectively.

Research and Development

Research and Development

 

All research and development costs are expensed as incurred. There was no research and development expense for the three months ended July 31, 2017 and 2016, respectively.

Income Tax

Income tax

 

We account for income taxes under the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) No. 740, Income Taxes (“ASC 740”). Under ASC 740, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Under ASC 740, the effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date.

Fair Value of Financial Instruments

Fair Value of Financial Instruments

 

The Company follows the provisions of ASC 820. This Topic defines fair value, establishes a measurement framework and expands disclosures about fair value measurements.

 

The Company uses fair value measurements for determining the valuation of derivative financial instruments payable in shares of its common stock. This primarily involves option pricing models that incorporate certain assumptions and projections to determine fair value. These require management’s judgment.

Fair Value Measurements

Fair Value Measurements

 

FASB ASC Topic 825, Financial Instruments, requires disclosures about fair value of financial instruments in quarterly reports as well as in annual reports. For the Company, this statement applies to certain investments and long-term debt. Also, the FASB ASC Topic 820, Fair Value Measurements and Disclosures, clarifies the definition of fair value for financial reporting, establishes a framework for measuring fair value and requires additional disclosures about the use of fair value measurements.

 

Various inputs are considered when determining the value of the Company’s investments and long-term debt. The inputs or methodologies used for valuing securities are not necessarily an indication of the risk associated with investing in these securities. These inputs are summarized in the three broad levels listed below.

 

Level 1 – observable market inputs that are unadjusted quoted prices for identical assets or liabilities in active markets.
   
Level 2 – other significant observable inputs (including quoted prices for similar securities, interest rates, credit risk, etc.).
   
Level 3 – significant unobservable inputs (including the Company’s own assumptions in determining the fair value of investments).

 

The Company’s adoption of FASB ASC Topic 825 did not have a material impact on the Company’s consolidated financial statements.

 

The carrying value of financial assets and liabilities recorded at fair value is measured on a recurring or nonrecurring basis. Financial assets and liabilities measured on a non-recurring basis are those that are adjusted to fair value when a significant event occurs. The Company had no financial assets or liabilities carried and measured on a nonrecurring basis during the reporting periods. Financial assets and liabilities measured on a recurring basis are those that are adjusted to fair value each time a financial statement is prepared. The Company had no financial assets and/or liabilities carried at fair value on a recurring basis at July 31, 2017, assets and liabilities approximate fair value due to their short term nature.

 

The availability of inputs observable in the market varies from instrument to instrument and depends on a variety of factors including the type of instrument, whether the instrument is actively traded, and other characteristics particular to the transaction. For many financial instruments, pricing inputs are readily observable in the market, the valuation methodology used is widely accepted by market participants, and the valuation does not require significant management discretion. For other financial instruments, pricing inputs are less observable in the market and may require management judgment. As of July 31, 2017, the Company had no assets other than prepaid expenses, cash, and capitalized film production costs.

Basic and Diluted Earnings Per Share

Basic and diluted earnings per share

 

Basic earnings per share are based on the weighted-average number of shares of common stock outstanding. Diluted Earnings per share is based on the weighted-average number of shares of common stock outstanding adjusted for the effects of common stock that may be issued as a result of the following types of potentially dilutive instruments:

 

Warrants,
   
Employee stock options, and
   
Other equity awards, which include long-term incentive awards.

 

The FASB ASC Topic 260, Earnings Per Share, requires the Company to include additional shares in the computation of earnings per share, assuming dilution.

 

Diluted earnings per share is based on the assumption that all dilutive options were converted or exercised. Dilution is computed by applying the treasury stock method. Under this method, options are assumed to be exercised at the time of issuance, and as if funds obtained thereby were used to purchase common stock at the average market price during the period.

 

Basic and diluted earnings per share are the same as there were no potentially dilutive instruments for the three months ended July 31, 2017 and 2016, respectively.

Concentrations, Risks, and Uncertainties

Concentrations, Risks, and Uncertainties

 

The Company had one customer, Mar Vista Entertainment, that accounted for 100% of total revenue. The Company had no customers in the three months ended July 31, 2017 that accounted for 10% or more of total revenue.

Stock Based Compensation

Stock Based Compensation

 

In accordance with ASC No. 718, Compensation – Stock Compensation (“ASC 718”), we measure the compensation costs of share-based compensation arrangements based on the grant-date fair value and recognize the costs in the financial statements over the period during which employees are required to provide services. Share-based compensation arrangements include stock options, restricted share plans, performance-based awards, share appreciation rights and employee share purchase plans. As such, compensation cost is measured on the date of grant at their fair value. Such compensation amounts, if any, are amortized over the respective vesting periods of the option grant. We apply this statement prospectively. Equity instruments (“instruments”) issued to other than employees are recorded on the basis of the fair value of the instruments, as required by ASC 718. ASC No. 505, Equity Based Payments to Non-Employees (“ASC 505”) defines the measurement date and recognition period for such instruments. In general, the measurement date is (a) when a performance commitment, as defined, is reached or (b) when the earlier of (i) the non-employee performance is complete or (ii) the instruments are vested. The measured value related to the instruments is recognized over a period based on the facts and circumstances of each particular grant as defined in the ASC 505.

Accounting for Derivative Financial Instruments

Accounting for Derivative Financial Instruments

 

We evaluate financial instruments using the guidance provided by ASC 815 and apply the provisions thereof to the accounting of items identified as derivative financial instruments not indexed to our stock.

XML 25 R16.htm IDEA: XBRL DOCUMENT v3.7.0.1
Summary of Significant Accounting Policies (Details Narrative) - USD ($)
3 Months Ended 12 Months Ended
Oct. 31, 2011
Jul. 31, 2017
Jul. 31, 2016
Apr. 30, 2017
Common stock, issued 67,100,000 174,625,386   174,625,386
Common stock, outstanding 67,100,000 174,625,386   174,625,386
Forward stock split eight-for-1 forward stock split      
Impairment charges   $ 44,918
Advertising costs    
Research and development expense    
Potentially dilutive instruments   $ (0.00) $ (0.00)  
One Customer [Member]        
Percentage of concentration risk gross of business with suppliers or customers   100.00%    
No Customer [Member]        
Percentage of concentration risk gross of business with suppliers or customers   10.00%    
China Advanced Technology [Member]        
Stock issuing for acquisition 47,000,000      
Constituting outstanding shares 70.10%      
Cancellation share 15,619,816      
XML 26 R17.htm IDEA: XBRL DOCUMENT v3.7.0.1
Film Production Agreements (Details Narrative) - USD ($)
1 Months Ended
Oct. 31, 2016
Jul. 31, 2016
Apr. 30, 2016
Mar. 04, 2016
Sep. 18, 2015
May 20, 2015
Apr. 15, 2015
Oct. 31, 2016
Jun. 30, 2016
Feb. 29, 2016
Jul. 31, 2017
Apr. 30, 2017
Investment in other assets                     $ 15,000 $ 15,000
Distribution Agreement [Member] | Bridal Boot Camp [Member]                        
Advance payments               $ 125,000        
Distribution Agreement [Member] | Merry Exes [Member]                        
Advance payments                 $ 125,000      
Distribution Agreement [Member] | Terror Birds [Member]                        
Advance payments                   $ 175,000    
Mar Vista Entertainment, LLC [Member] | Distribution Agreement [Member]                        
Advance payments $ 125,000 $ 125,000 $ 175,000 $ 125,000 $ 125,000 $ 175,000            
Gross proceeds percentage       35.00% 35.00% 30.00%            
KKO Productions [Member] | Distribution Agreement [Member]                        
Gross proceeds percentage             15.00%          
Investment in films             $ 15,000          
XML 27 R18.htm IDEA: XBRL DOCUMENT v3.7.0.1
Common Stock (Details Narrative) - $ / shares
Jul. 31, 2017
Apr. 30, 2017
Oct. 31, 2011
Equity [Abstract]      
Preferred stock, shares authorized 1,000,000 1,000,000  
Preferred stock, par value $ 0.001 $ 0.001  
Preferred stock, shares issued  
Preferred stock, shares outstanding  
Common stock, shares authorized 300,000,000 300,000,000  
Common stock, par value $ 0.001 $ 0.001  
Common stock, shares outstanding 174,625,386 174,625,386 67,100,000
Common stock not yet issued   35,660,469  
XML 28 R19.htm IDEA: XBRL DOCUMENT v3.7.0.1
Related Party Transactions (Details Narrative) - USD ($)
3 Months Ended
Jul. 31, 2017
Jul. 31, 2016
Affiliated Shareholders [Member] | Private Placement [Member]    
Number of restricted common stock shares sold during period, shares 9,832,000
Memorandum in exchange value $ 98,320  
Affiliated Shareholders [Member] | Private Placement [Member] | Minimum [Member]    
Memorandum exchange rate 10.00%  
C&R Film [Member]    
Consulting and reimbursement expenses $ 0 $ 58,134
EXCEL 29 Financial_Report.xlsx IDEA: XBRL DOCUMENT begin 644 Financial_Report.xlsx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end XML 30 Show.js IDEA: XBRL DOCUMENT /** * Rivet Software Inc. * * @copyright Copyright (c) 2006-2011 Rivet Software, Inc. All rights reserved. * Version 2.4.0.3 * */ var Show = {}; Show.LastAR = null, Show.hideAR = function(){ Show.LastAR.style.display = 'none'; }; Show.showAR = function ( link, id, win ){ if( Show.LastAR ){ Show.hideAR(); } var ref = link; do { ref = ref.nextSibling; } while (ref && ref.nodeName != 'TABLE'); if (!ref || ref.nodeName != 'TABLE') { var tmp = win ? win.document.getElementById(id) : document.getElementById(id); if( tmp ){ ref = tmp.cloneNode(true); ref.id = ''; link.parentNode.appendChild(ref); } } if( ref ){ ref.style.display = 'block'; Show.LastAR = ref; } }; Show.toggleNext = function( link ){ var ref = link; do{ ref = ref.nextSibling; }while( ref.nodeName != 'DIV' ); if( ref.style && ref.style.display && ref.style.display == 'none' ){ ref.style.display = 'block'; if( link.textContent ){ link.textContent = link.textContent.replace( '+', '-' ); }else{ link.innerText = link.innerText.replace( '+', '-' ); } }else{ ref.style.display = 'none'; if( link.textContent ){ link.textContent = link.textContent.replace( '-', '+' ); }else{ link.innerText = link.innerText.replace( '-', '+' ); } } }; XML 31 report.css IDEA: XBRL DOCUMENT /* Updated 2009-11-04 */ /* v2.2.0.24 */ /* DefRef Styles */ ..report table.authRefData{ background-color: #def; border: 2px solid #2F4497; font-size: 1em; position: absolute; } ..report table.authRefData a { display: block; font-weight: bold; } ..report table.authRefData p { margin-top: 0px; } ..report table.authRefData .hide { background-color: #2F4497; padding: 1px 3px 0px 0px; text-align: right; } ..report table.authRefData .hide a:hover { background-color: #2F4497; } ..report table.authRefData .body { height: 150px; overflow: auto; width: 400px; } ..report table.authRefData table{ font-size: 1em; } /* Report Styles */ ..pl a, .pl a:visited { color: black; text-decoration: none; } /* table */ ..report { background-color: white; border: 2px solid #acf; clear: both; color: black; font: normal 8pt Helvetica, Arial, san-serif; margin-bottom: 2em; } ..report hr { border: 1px solid #acf; } /* Top labels */ ..report th { background-color: #acf; color: black; font-weight: bold; text-align: center; } ..report th.void { background-color: transparent; color: #000000; font: bold 10pt Helvetica, Arial, san-serif; text-align: left; } ..report .pl { text-align: left; vertical-align: top; white-space: normal; width: 200px; white-space: normal; /* word-wrap: break-word; */ } ..report td.pl a.a { cursor: pointer; display: block; width: 200px; overflow: hidden; } ..report td.pl div.a { width: 200px; } ..report td.pl a:hover { background-color: #ffc; } /* Header rows... */ ..report tr.rh { background-color: #acf; color: black; font-weight: bold; } /* Calendars... */ ..report .rc { background-color: #f0f0f0; } /* Even rows... */ ..report .re, .report .reu { background-color: #def; } ..report .reu td { border-bottom: 1px solid black; } /* Odd rows... */ ..report .ro, .report .rou { background-color: white; } ..report .rou td { border-bottom: 1px solid black; } ..report .rou table td, .report .reu table td { border-bottom: 0px solid black; } /* styles for footnote marker */ ..report .fn { white-space: nowrap; } /* styles for numeric types */ ..report .num, .report .nump { text-align: right; white-space: nowrap; } ..report .nump { padding-left: 2em; } ..report .nump { padding: 0px 0.4em 0px 2em; } /* styles for text types */ ..report .text { text-align: left; white-space: normal; } ..report .text .big { margin-bottom: 1em; width: 17em; } ..report .text .more { display: none; } ..report .text .note { font-style: italic; font-weight: bold; } ..report .text .small { width: 10em; } ..report sup { font-style: italic; } ..report .outerFootnotes { font-size: 1em; } XML 33 FilingSummary.xml IDEA: XBRL DOCUMENT 3.7.0.1 html 29 97 1 false 13 0 false 4 false false R1.htm 00000001 - Document - Document and Entity Information Sheet http://goliathfilmandmediainternational.com/role/DocumentAndEntityInformation Document and Entity Information Cover 1 false false R2.htm 00000002 - Statement - Condensed Consolidated Balance Sheets Sheet http://goliathfilmandmediainternational.com/role/BalanceSheets Condensed Consolidated Balance Sheets Statements 2 false false R3.htm 00000003 - Statement - Condensed Consolidated Balance Sheets (Parenthetical) Sheet http://goliathfilmandmediainternational.com/role/BalanceSheetsParenthetical Condensed Consolidated Balance Sheets (Parenthetical) Statements 3 false false R4.htm 00000004 - Statement - Condensed Consolidated Statements of Operations (Unaudited) Sheet http://goliathfilmandmediainternational.com/role/StatementsOfOperations Condensed Consolidated Statements of Operations (Unaudited) Statements 4 false false R5.htm 00000005 - Statement - Condensed Consolidated Statements of Cash Flows (Unaudited) Sheet http://goliathfilmandmediainternational.com/role/StatementsOfCashFlows Condensed Consolidated Statements of Cash Flows (Unaudited) Statements 5 false false R6.htm 00000006 - Disclosure - Condensed Financial Statements Sheet http://goliathfilmandmediainternational.com/role/FinancialStatements Condensed Financial Statements Notes 6 false false R7.htm 00000007 - Disclosure - Summary of Significant Accounting Policies Sheet http://goliathfilmandmediainternational.com/role/SummaryOfSignificantAccountingPolicies Summary of Significant Accounting Policies Notes 7 false false R8.htm 00000008 - Disclosure - Recently Enacted Accounting Standards Sheet http://goliathfilmandmediainternational.com/role/RecentlyEnactedAccountingStandards Recently Enacted Accounting Standards Notes 8 false false R9.htm 00000009 - Disclosure - Film Production Agreements Sheet http://goliathfilmandmediainternational.com/role/FilmProductionAgreements Film Production Agreements Notes 9 false false R10.htm 00000010 - Disclosure - Common Stock Sheet http://goliathfilmandmediainternational.com/role/CommonStock Common Stock Notes 10 false false R11.htm 00000011 - Disclosure - Going Concern Sheet http://goliathfilmandmediainternational.com/role/GoingConcern Going Concern Notes 11 false false R12.htm 00000012 - Disclosure - Related Party Transactions Sheet http://goliathfilmandmediainternational.com/role/RelatedPartyTransactions Related Party Transactions Notes 12 false false R13.htm 00000013 - Disclosure - Commitments and Contingencies Sheet http://goliathfilmandmediainternational.com/role/CommitmentsAndContingencies Commitments and Contingencies Notes 13 false false R14.htm 00000014 - Disclosure - Subsequent Events Sheet http://goliathfilmandmediainternational.com/role/SubsequentEvents Subsequent Events Notes 14 false false R15.htm 00000015 - Disclosure - Summary of Significant Accounting Policies (Policies) Sheet http://goliathfilmandmediainternational.com/role/SummaryOfSignificantAccountingPoliciesPolicies Summary of Significant Accounting Policies (Policies) Policies http://goliathfilmandmediainternational.com/role/SummaryOfSignificantAccountingPolicies 15 false false R16.htm 00000016 - Disclosure - Summary of Significant Accounting Policies (Details Narrative) Sheet http://goliathfilmandmediainternational.com/role/SummaryOfSignificantAccountingPoliciesDetailsNarrative Summary of Significant Accounting Policies (Details Narrative) Details http://goliathfilmandmediainternational.com/role/SummaryOfSignificantAccountingPoliciesPolicies 16 false false R17.htm 00000017 - Disclosure - Film Production Agreements (Details Narrative) Sheet http://goliathfilmandmediainternational.com/role/FilmProductionAgreementsDetailsNarrative Film Production Agreements (Details Narrative) Details http://goliathfilmandmediainternational.com/role/FilmProductionAgreements 17 false false R18.htm 00000018 - Disclosure - Common Stock (Details Narrative) Sheet http://goliathfilmandmediainternational.com/role/CommonStockDetailsNarrative Common Stock (Details Narrative) Details http://goliathfilmandmediainternational.com/role/CommonStock 18 false false R19.htm 00000019 - Disclosure - Related Party Transactions (Details Narrative) Sheet http://goliathfilmandmediainternational.com/role/RelatedPartyTransactionsDetailsNarrative Related Party Transactions (Details Narrative) Details http://goliathfilmandmediainternational.com/role/RelatedPartyTransactions 19 false false All Reports Book All Reports gfmh-20170731.xml gfmh-20170731.xsd gfmh-20170731_cal.xml gfmh-20170731_def.xml gfmh-20170731_lab.xml gfmh-20170731_pre.xml true true ZIP 35 0001493152-17-010080-xbrl.zip IDEA: XBRL DOCUMENT begin 644 0001493152-17-010080-xbrl.zip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