GOLD ROCK HOLDINGS INC
For the period ended Sep 30, 2024. Filed Oct 30, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Oct 30, 2024
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What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-Q
Period ended 2024-06-30; filed 2024-08-02.
0001091818-24-000080
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsCurrent report: 10-Q
Period ended 2024-09-30; filed 2024-10-30.
0001091818-24-000131
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 77 previous paragraphs and 78 current paragraphs.
62 unchanged; 14 reworded; 2 added; 1 removed; 0 previous and 0 current paragraphs rearranged.
Tables are not compared: 1 previous and 1 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Added paragraphs (2)
Current report
On July 2, 2024, LOOT8, Inc., the Company's wholly-owned subsidiary received from Perpetual Sports. LLC the return of approximately $20,833 to the Company for payments made on the consulting agreement for April and May 2024. The Company and Perpetual Sports mutually agreed to terminated month-to-month consultant agreement on July 18, 2024. The Company's management is in direct negations with the University of Houston to continue its sponsorship agreement, but no definitive agreement has yet to be determined.
Current report
Net Income/ Net Loss:
Removed paragraphs (1)
Reworded paragraphs (14)
Previous wording
Sales revenue for the three months ended June 30, 2024 and for the three months ended June 30, 2023 were $6,500 and $-0-, respectively. During the three months ended June 30, 2024, the Company's K-Project division sold AI services to a client, but its LOOT8, Inc. wholly owned subsidiary's Web3 content management system had no revenues, and for the same period ending June 30, 2023, the Company had no revenues from its previous business operations in underground fiber contracting.
Current wording
Sales revenue for the three months ended September 30, 2024 and for the three months ended September 30, 2023 were $66,000 and $-0-, respectively. During the three months ended September 30, 2024, the Company's K-Project division sold AI services to a client, but its LOOT8, Inc. wholly owned subsidiary's Web3 content management system had no revenues, and for the same period ending September 30, 2023, the Company had no revenues from its previous business operations in underground fiber contracting.
Previous wording
Gross Profit for the three months ended June 30, 2024 was $6,500 and for the three months ended June 30, 2023 was $-0-.
Current wording
Gross Profit for the three months ended September 30, 2024 was $66,000 and for the three months ended September 30, 2023 was $-0-.
Previous wording
Operating expenses for three months ended June 30, 2024, totaled $99,499 from consulting expense and general and administrative expenses, compared to $ 10,298 for the three months ended June 30, 2023. This increase in June 30, 2024 compared to the same period ended June 30, 2023 was attributed to higher consulting expense and general and administrative Expenses.
Current wording
Operating expenses for three months ended September 30, 2024, totaled $45,595 from consulting expense and general and administrative expenses, compared to $10,554 for the three months ended September 30, 2023. The increase in September 30, 2024 compared to the same period ended September 30, 2023 was attributed to higher consulting expense and general and administrative expenses.
Previous wording
Six Months – June 30, 2024 and 2023 Statements
Current wording
Nine Months – September 30, 2024 and 2023 Statements
Previous wording
The Sales revenue for the Company for the six months ended June 30, 2024 was $6,500* *and for the six months ended June 30, 2023 was $-0- . During the six months ended June 30, 2024, the Company's K-Project division sold AI services to a client, but its LOOT8, Inc. wholly owned subsidiary's Web3 content management system had no revenues, and during the same period in 2023 the Company from its previous business operations had no contracts for the laying of underground fiber and copper cables.
Current wording
The sales revenue for the Company for the nine months ended September 30, 2024 was $72,500* *and for the nine months ended September 30, 2023 was $-0- . During the nine months ended September 30, 2024, the Company's K-Project division sold AI services to a client, but its LOOT8, Inc. wholly owned subsidiary's Web3 content management system had no revenues, and during the same period in 2023 the Company from its previous business operations had no contracts for the laying of underground fiber and copper cables.
Previous wording
Cost of sales for the six months ended June 30, 2024 was $-0- and for the six months ended June 30, 2023 was $-0- respectively.
Current wording
Cost of sales for the nine months ended September 30, 2024 was $-0- and for the nine months ended September 30, 2023 was $-0- respectively.
Previous wording
Gross Margins for the six months ended June 30, 2024 was 100%, and for six months ended June 30, 2023 was 0%. During the six months ended June 30, 2024, the Company K-Project division sold AI services to a client, but its LOOT8, Inc. wholly owned subsidiary's Web3 content management system had no revenues, and during the same period in 2023 the Company from its previous business operations had no contracts for the laying of underground fiber and copper cables
Current wording
Gross Margins for the nine months ended September 30, 2024 was 100%, and for nine months ended September 30, 2023 was 0%. During the nine months ended September 30, 2024, the Company K-Project division sold AI services to a client, but its LOOT8, Inc. wholly owned subsidiary's Web3 content management system had no revenues, and during the same period in 2023 the Company from its previous business operations had no contracts for the laying of underground fiber and copper cables
Previous wording
Gross Profit for the six months ended June 30, 2024 was $6,500 and for the six months ended June 30, 2023 was $-0-.
Current wording
Gross Profit for the nine months ended September 30, 2024 was $72,500 and for the nine months ended September 30, 2023 was $-0-.
Previous wording
Operating expenses for six months ended June 30, 2024, totaled $265,095 from board of director compensation, consulting expense and general and administrative expenses, compared to $206,656 for the six months ended June 30, 2023. The increase during the same six month period ended June 30, 2024 was attributed to higher consulting and general and administrative expenses.
Current wording
Operating expenses for nine months ended September 30, 2024, totaled $310,690 from board of director compensation, consulting expense and general and administrative expenses, compared to $217,210 for the nine months ended September 30, 2023. The increase during the same nine month period ended September 30, 2024 was attributed to higher board of director compensation, consulting expense and general and administrative expense.
Previous wording
Net loss for the three months ended June 30, 2024 and 2023 were $92,999 and $10,298 , respectively. Net loss for the six months ended June 30, 2024 and 2023 were $258,595 and $206,656 , respectively.
Current wording
Net Income for the three months ended September 30, 2024 was $20,405 and the net loss for the three months ending September 30, 2023 was $10,554. Net loss for the nine months ended September 30, 2024 and 2023 were $238,190 and $217,210, respectively.
Previous wording
As of June 30, 2024, the Company’s assets totaled $241,134 which consisted of $234,634 in cash and $6,500 in accounts receivable. Our total liabilities were $83,821. As of June 30, 2024, the Company had an accumulated deficit of $1,124,632 and working capital of $157,313.
Current wording
As of September 30, 2024, the Company’s assets totaled $259,303 which consisted of $215,303 in cash and $44,000 in accounts receivable. Our total liabilities were $81,585. As of September 30, 2024, the Company had an accumulated deficit of $1,104,227 and has working capital of $177,718.
Previous wording
Net cash used in operating activities for the six months ended June 30, 2024 and 2023 were $191,174 and $1,856 respectively.
Current wording
Net cash used in operating activities for the nine months ended September 30, 2024 and 2023 were $210,505 and $10,035, respectively.
Previous wording
Net cash used in investing activities was $-0- for both the six months periods ended June 30, 2024 and 2023.
Current wording
Net cash used in investing activities was$-0- for both the nine months periods ended September 30, 2024 and 2023.
Previous wording
Net cash provided by financing activities was $425,700 for six months ended June 30, 2024 from the cash proceeds received from sale of common stock and capital contributions from directors, and was $1,760 for six months ended June 30, 2023 from the amount of capital contributions from the Company's directors.
Current wording
Net cash provided by financing activities was $425,700 for nine months ended September 30, 2024 from the cash proceeds received from sale of common stock and capital contributions from directors, and was $8,907 for nine months ended September 30, 2023 from the amount of capital contributions from the Company's directors.