OSCEOLA GOLD, INC. OSCEOLA GOLD, INC.
(Formerly, PhyHealth Corp.)
2020 Annual Financial Statements
December 31, 2021, and December 31, 2020
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C O N T E N T S
Balance Sheets…………………………………………………………………………………………………………………….3
Statement of Operations………………………………………………………………………………………………………4
Statements of Stockholders' Equity………………………………………………………………………………………5
Statement of Cash Flows…………………………………………………………………………………………………….…6
Notes to the Financial Statements…………………………………………………………………………………………7
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Osceola Gold Inc. | ||||
BALANCE SHEET | ||||
(unaudited) | ||||
ASSETS | ||||
CURRENT ASSETS | December 31, 2021 | December 31, 2020 | ||
Cash and cash equivalents | 363 | 54 | ||
Contract Receivable | - | - | ||
Note Receivable-Related Party | - | - | ||
Other Current Assets | - | |||
Costs and estimated earnings in excess of billings | - | - | ||
Adjustment to Current Assets | - | - | ||
Total Current Assets | 363 | 54 | ||
Fixed Assets | ||||
Processing Equipment | 15,871 | 17,719 | ||
Vehicles | 2,206 | 2,968 | ||
Furniture and Equipment | 6,653 | 8,697 | ||
Accumulated Depreciation | (14,654) | (20,687) | ||
Total Fixed Assets | 10,076 | 8,697 | ||
TOTAL | ||||
ASSETS | 10,439 | 8,754 | ||
TOTAL LIABILITIES AND STOCKHOHLDER EQUITY | ||||
Current Liabilities | ||||
Bank Overdraft | - | - | ||
Accounts Payable and Accrued Expenses | 469,542 | 515,935 | ||
Notes Payable and Capital Leases | - | - | ||
Accruals on uncompleted contracts | - | - | ||
Other Current Liabilities | 2,253,642 | 2,065,541 | ||
TOTAL CURRENT LIABILITIES | 2,723,184 | 2,581,476 | ||
Long Term | ||||
Liabilities | ||||
Notes Payable and Capital Leases | 5,321,846 | 5,037,845 | ||
Adjustment to notes payable and capital leases | - | - | ||
TOTAL | ||||
LIABILITIES | 8,045,030 | 7,619,321 | ||
Stockholders' Equity (deficit) |
Preferred A Stock (Par $0.0001), 1,000,000 authorized, 247,053 and 247,053 issued and outstanding
Preferred B Stock, (Par $0.0001), 1,000,000 shares authorized 1,000,000 issued and 0 outstanding
Common Stock, (Par $0.0001), 298,000,000 shares authorized 297,264,288 issued and 735,712 outstanding
Paid in Capital in Excess of par value
Retained Deficit
Total Stockholders' Equity
TOTAL LIABILITIES AND STOCKHOLDER
EQUITY
25 | 25 | ||
100 | 100 | ||
29,726 | 29,726 | ||
(12,650,114) | (11,937,135) | ||
(12,639,675) | - | (11,945,889) | |
$ 10,439 | $ | 8,754 | |
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Osceola Gold Inc.
Consolidated Statement of Operations
(unaudited)
December 31, 2021 | December 31, 2020 | |||
INCOME | $ | - | ||
OPERATING EXPENSES | 6,953 | $ | 24,185 | |
$ | ||||
NET INCOME (LOSS) | (6,953) | $ | (24,185) | |
$ |
The accompanying financials were not subject to an audit, review, or compilation. The accompanying notes are an integral part of these financial statements.
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Osceola Gold, Inc.
Statement of Shareholders' Equity (Deficit)
(unaudited)
Series A Preferred Stock | Series B Preferred Stock | Common Stock | |||||||||||||||||||||||
Paid in Capital | Total | ||||||||||||||||||||||||
in Excess of Par | Retained | Stockholders | |||||||||||||||||||||||
Shares | Amount | Shares | Amount | Shares | Amount | Value | Deficit | 'Equity | |||||||||||||||||
Ending Balance- | $ | ||||||||||||||||||||||||
December 31, 2019 | 247,053 | $ | 25 | - | - | 297,264,288 | $ | 16,922 | $ 1,481,538 | $ | (10,661,488) | $ | (7,188,748) | ||||||||||||
$ | $ | $ | |||||||||||||||||||||||
Shares Extinguish debts | - | - | - | - | $ | - | |||||||||||||||||||
Net Income for year | |||||||||||||||||||||||||
ending December 31, | $ | 1,000,000 | |||||||||||||||||||||||
2020 | - | - | - | $ | 100 | $ | (24,185) | $ | $ | ||||||||||||||||
$ | $ | ||||||||||||||||||||||||
Adjustments | - | - | - | - | $ | $ | (24,185) | $ 1,275,647 | (311,487) | ||||||||||||||||
Ending Balance- | $1,457,353 | ||||||||||||||||||||||||
December 31, 2020 | 247,053 | $ | 25 | 1,000,000 | $ | 100 | 297,264,288 | $ | (7263) | $ | (11,937,135) | $ (11,945,889) | |||||||||||||
$ | $ | $ | $ | $ | |||||||||||||||||||||
Shares Issued | - | - | - | - | - | - | - | ||||||||||||||||||
Common Stock issued for | $ | $ | $ | $ | |||||||||||||||||||||
debt conversion | - | - | 1,000,000 | 100 | $ | $ | - | - | |||||||||||||||||
Shares sold for $0.05 per | |||||||||||||||||||||||||
share | 0 | $ | 0 | $ | 0 | $ | - | ||||||||||||||||||
Common stock issued in | |||||||||||||||||||||||||
lieu of payment for | $ | $ | $ | $ | |||||||||||||||||||||
services | - | - | - | - | $ | $ | - | - | |||||||||||||||||
Shares returned to | $ | $ | $ | $ | |||||||||||||||||||||
Treasury | - | - | - | - | $ | $ | - | - | |||||||||||||||||
Conversion of preferred | $ | $ | $ | ||||||||||||||||||||||
shares to common shares | - | - | - | - | $ | $ | - | ||||||||||||||||||
$ | $ | ||||||||||||||||||||||||
Current period deficit | - | - | - | - | $ | $ | |||||||||||||||||||
Ending Balance- | |||||||||||||||||||||||||
December 31, 2021 | 247,053 | $ | 25 | 1,000,000 | $ | 100 | 297,264,288 | $ | ( 6,953) | $ 1,559,438 | $(1,2650,114) | $ (12,639,675) |
The accompanying financials were not subject to an audit, review, or compilation.
The accompanying notes are an integral part of these financial statements.
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Osceola Gold Inc. published this content on 06 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 March 2022 21:08:05 UTC.
