STOCKHOLDERS’ DEFICIT |
3 Months Ended | ||
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Dec. 31, 2021 | |||
Equity [Abstract] | |||
STOCKHOLDERS’ DEFICIT |
(A) Preferred Stock
The Company was incorporated on November 13, 2016. On March 29, 2017, the Company became authorized to issue shares of preferred stock with a par value of $ per share. Preferred stock may be issued in one or more series. Rights and preferences are to be determined by the board of directors.
The Board of Directors has designated the holder of each share of Series A Preferred Stock is entitled to exercise voting power equal to 0.051% of the aggregate voting power. The holder of Series A Preferred Stock will receive dividends when and if they are declared by the Board of Directors. The Series A Preferred Stock has a liquidation preference of $ per share. As of December 31, 2021 and September 30, 2021, there were shares of Series A Preferred Stock issued and outstanding. shares of the preferred stock as Series A Preferred Stock. On March 29, 2017, Jacob Roth purchased the shares of Series A Preferred Stock for their par value (See Note 4). At any shareholders meeting or in connection with the giving of shareholder consents,
(B) Common Stock Issued for Cash
The Company is authorized to issue shares of common stock with a par value of $ per share.
As of December 31, 2021 and September 30, 2021, there were shares of Common Stock issued and outstanding.
(C) In kind contribution of services
For the three months ended December 31, 2021, the Company recorded $1,200 as in kind contribution of services provided by President of the Company (See Note 4).
GOLDEN ROYAL DEVELOPMENT INC. NOTES TO CONDENSED FINANCIAL STATEMENTS AS OF DECEMBER 31, 2021 (UNAUDITED)
For the three months ended December 31, 2020, the Company recorded $1,200 as in kind contribution of services provided by President of the Company (See Note 4).
For the three months ended December 31, 2021, the Company recorded $1,526 as in kind contribution of interest on the loans provided by President of the Company (See Notes 2 and 4).
For the three months ended December 31, 2020, the Company recorded $1,064 as in kind contribution of interest on the loans provided by President of the Company (See Notes 2 and 4). |