Gold Rock Holdings Files Q3 2024 10-Q
Ticker: GRHI · Form: 10-Q · Filed: Oct 30, 2024 · CIK: 894501
Sentiment: neutral
Topics: 10-Q, quarterly-report, financials
TL;DR
GRHI filed its Q3 10-Q. Financials and ops details inside.
AI Summary
Gold Rock Holdings, Inc. filed its 10-Q for the period ending September 30, 2024. The filing details financial performance and operational updates for the third quarter of 2024. Specific financial figures and operational highlights are presented within the report.
Why It Matters
This filing provides investors with a crucial update on Gold Rock Holdings' financial health and operational progress during the third quarter of 2024, impacting investment decisions.
Risk Assessment
Risk Level: low — The filing is a standard quarterly report and does not inherently indicate new or elevated risks for the company.
Key Numbers
- 20240930 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial information is provided.)
- 20241030 — Filing Date (The date the 10-Q report was officially submitted to the SEC.)
Key Players & Entities
- GOLD ROCK HOLDINGS, INC. (company) — Filer of the 10-Q report
- 20240930 (date) — End of the reporting period
- 20241030 (date) — Filing date of the report
- VIRGINIA BEACH (location) — Company's business and mailing address city
FAQ
What is the primary purpose of this 10-Q filing?
This 10-Q filing provides a quarterly update on the financial performance and operational status of Gold Rock Holdings, Inc. for the period ending September 30, 2024.
When was this 10-Q report filed with the SEC?
The 10-Q report was filed on October 30, 2024.
What is Gold Rock Holdings, Inc.'s fiscal year end?
Gold Rock Holdings, Inc.'s fiscal year ends on December 31.
What is the company's primary business address?
The company's business address is 2020 General Booth Blvd, #230, Virginia Beach, VA 23452.
What SIC code is associated with Gold Rock Holdings, Inc.?
The Standard Industrial Classification (SIC) code for Gold Rock Holdings, Inc. is 7373, which falls under SERVICES-COMPUTER INTEGRATED SYSTEMS DESIGN.
Filing Stats: 4,560 words · 18 min read · ~15 pages · Grade level 14.1 · Accepted 2024-10-30 16:11:10
Key Financial Figures
- $0.001 — 6,969 shares of common stock, par value $0.001 per share. -1- TABLE OF CONTENTS P
- $12,500 m — ent with the officer of LOOT8, Inc. for $12,500 monthly of which $10,000 will be paid mon
- $10,000 — OOT8, Inc. for $12,500 monthly of which $10,000 will be paid monthly and $2,500 will be
- $2,500 — which $10,000 will be paid monthly and $2,500 will be deferred until the Company's fi
- $125,000 — University of Houston in the amount of $125,000 for one year ending on February 12, 202
- $10,416.66 — be paid in twelve (12) installments of $10,416.66 each. As of July 18, 2024, the Company
Filing Documents
- grhi-20240930.htm (10-Q) — 327KB
- ex311.htm (EX-31.1) — 8KB
- ex312.htm (EX-31.2) — 8KB
- ex321.htm (EX-32.1) — 2KB
- ex322.htm (EX-32.2) — 2KB
- 0001091818-24-000131.txt ( ) — 1841KB
- grhi-20240930.xsd (EX-101.SCH) — 17KB
- grhi-20240930_cal.xml (EX-101.CAL) — 21KB
- grhi-20240930_def.xml (EX-101.DEF) — 38KB
- grhi-20240930_lab.xml (EX-101.LAB) — 169KB
- grhi-20240930_pre.xml (EX-101.PRE) — 127KB
- grhi-20240930_htm.xml (XML) — 123KB
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 12 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 15 Item 4.
Controls and Procedures
Controls and Procedures 15 PART II Item 1.
Legal Proceedings
Legal Proceedings 16 Item 1A.
Risk Factors
Risk Factors 16 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 16 Item 3. Defaults Upon Senior Securities 16 Item 4. Mining Safety Disclosures 16 Item 5. Other Information 17 Item 6. Exhibits 17
Signatures
Signatures 17 -2-
– FINANCIAL INFORMATION
PART I – FINANCIAL INFORMATION
FINANCIAL STATEMENTS
ITEM 1. FINANCIAL STATEMENTS GOLD ROCK HOLDINGS, INC. FINANCIAL REPORTS AT SEPTEMBER 30, 2024 INDEX TO FINANCIAL STATEMENTS Condensed Consolidated Balance Sheets at September 30, 2024 - Unaudited and December 31, 2023- Audited 4 Condensed Consolidated Statements of Operations for the Three and Nine Months Ended September 30, 2024 and 2023- Unaudited 5 Condensed Consolidated Statements of Cash Flows for the Nine Months Ended September 30, 2024 and 2023- Unaudited 6 Condensed Consolidated Statements of Stockholders' Equity for the Three and Nine Months Ended September 30, 2024 and 2023- Unaudited 7 Notes to the Condensed Consolidated Unaudited Financial Statements 8-11 -3- Gold Rock Holdings, Inc. CONDENSED CONSOLIDATED BALANCE SHEETS - UNAUDITED September 30, December 31, 2024 2023 ASSETS Current Assets Cash $ 215,303 $ 108 Accounts Receivable 44,000 - Total Current Assets 259,303 108 Total Assets $ 259,303 $ 108 LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) Current Liabilities Accounts Payable and Accrued Expenses $ 2,585 $ 9,900 Accrued Board of Director Compensation 79,000 - Total Current Liabilities 81,585 9,900 Total Liabilities 81,585 9,900 Stockholders' Equity (Deficit) Common Stock - $ 0.001 Par; 850,000,000 Shares Authorized, 238,136,969 and 231,053,636 Issued and Outstanding, Respectively 238,136 231,053 Additional Paid-In-Capital 1,043,809 625,192 Accumulated Deficit ( 1,104,227 ) ( 866,037 ) Total Stockholders' Equity (Deficit) 177,718 ( 9,792 ) Total Liabilities and Stockholders' Equity (Deficit) $ 259,303 $ 108 The accompanying notes are an integral part of these unaudited condensed consolidated financial statements. -4- Gold Rock Holdings, Inc. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - UNAUDITED Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Sales $ 66,000 $ - $ 72,500 $ - Cost of Sale
MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS The following information should be read in conjunction with our financial
Forward Looking Statements
Forward Looking Statements Certain matters discussed herein are forward-looking statements. Such forward-looking our future strategic plans our future operating results; our business prospects; our contractual arrangements and relationships with third parties; the dependence of our future success on the general economy; our possible future financing; and the adequacy of our cash resources and working capital. From time to time, we or our representatives have made or may make forward-looking made with the approval of an authorized executive officer or in various filings made by us with the Securities and Exchange Commission. Words or phrases "will likely result", "are expected to", "will continue", "is anticipated", "estimate", "project or projected", or similar expressions are intended to identify "forward-looking statements". Such statements are qualified in their entirety by reference to and are accompanied by the above discussion of certain important factors that could cause actual results to differ materially from such forward-looking statements. The risks identified here are not all inclusive. New risk factors emerge from time to time and it is not possible for management to predict all of such risk factors, nor can it assess the impact of all such risk factors on the company's business or the extent to which any factor or combination of factors may cause actual results to differ materially from those contained in any forward-looking statements. Accordingly, forward-looking statements should not be relied upon as a prediction of actual results. The financial information set forth in the following discussion should be read in conjunction with the financial statements of Gold Rock Holdings, Inc. included elsewhere her
Business
Business Gold Rock Holdings, Inc., (Gold Rock) a Nevada corporation, is a holding company that acquires technological assets. The Company changed its business model from engineering and construction management services, produce site-plans, construction drawings, cost computations, fiber network designs, and other related construction services, as a result of a change in control on October 2, 2023. Gold Rock intends to grow and further establish itself through mergers, acquisitions, and management of technological assets. As such, Gold Rock Holdings, Inc. (the "Company") announced on December 12, 2023, that it formed a Wyoming corporation by the name of LOOT8, Inc. as its operating wholly-owned subsidiary. LOOT8, Inc. acquired certain intellectual property known as "LOOT8." LOOT8 is a Web3 Commerce and Content Management Engine Software. At its core, it harnesses the power of multiple public blockchains alongside the IPFS file system, with a user-friendly interface akin to Web2. LOOT8 is engineered to cater to a variety of enterprise necessities including digital product passports, private communication channels, and loyalty programs, among others. LOOT8 provides enterprises the capability to oversee and manage their content on IPFS nodes, leveraging AI to make the underlying content interactive as a way to enable small businesses and content creators to scale at a faster pace and to create differentiated experiences. LOOT8, Inc. currently in its infancy in marketing its Web3 online platform phase of its business and has no revenue. However, it has developed a Web3 content management system (CMS) pioneering the "Relationship Economy" through SocialFi, and a new monetization model. This model is designed to empower individuals with compelling stories to monetize their relationships beyond traditional influencer models. The new monetization model is made up of three discrete revenue streams. It is planned that the first stream will be a direct-to-consumer (D2C) m