UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

 

FORM 10

 

GENERAL FORM FOR REGISTRATION OF SECURITIES

PURSUANT TO SECTION 12(b) OR 12(g) OF THE

SECURITIES EXCHANGE ACT OF 1934

 

GOLD ENTERTAINMENT GROUP, INC.



(Exact Name of the Registrant as Specified in its Charter)

 

 

 

 

Florida

 

98-0206212

(State or Other Jurisdiction of

Incorporation or Organization)

 

(IRS Employer

Identification No.)

 

 

429 W PLUMB LANE RENO, NV 895095


  (Address of Principal Executive Offices and Zip Code)

 

 

561-927-0605


(Registrant's Telephone Number, Including Area Code)

 

Securities to be registered under Section 12(b) of the Act: None

 

Securities to be registered under Section 12(g) of the Act:

 

Common Stock, Par Value $0.0001


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.

 

Large Accelerated Filer

o

 

Accelerated filer 

o

Non-accelerated filer 

o

(do not check is a smaller reporting company)

Smaller reporting company

x


CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This Form 10 contains forward-looking statements that may be affected by matters outside our control that could cause materially different results.

Some of the information in this Form 10-12g contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933. These statements express, or are based on, our expectations about future events. Forward-looking statements give our current expectations or forecasts of future events. Forward-looking statements generally can be identified by the use of forward-looking terminology, such as, "may", "will", "expect", "intend", "project", "estimate", "anticipate", "believe" or "continue" or the negative thereof or similar terminology. They include statements regarding our:

  • financial position,

  • business strategy,

  • budgets,

  • amount, nature and timing of capital expenditures,

  • cash flow and anticipated liquidity,

  • future marketing costs,

  • acquisition and development of other technologies,

  • future demand for our products and services,

  • operating costs and other expenses.


    Although we believe the expectations and forecasts reflected in these and other forward-looking statements are reasonable, we can give no assurance they will prove to have been correct. They can be affected by inaccurate assumptions or by known or unknown risks and uncertainties. Factors that could cause actual results to differ materially from expected results are described under "Risk Factors" and include:


  • general economic conditions,

  • our cost of sales,

  • our ability to generate sufficient cash flows to operate,

  • availability of capital,

  • the strength and financial resources of our competitors,

  • our ability to find and retain skilled personnel, and

  • the lack of liquidity of our common stock.


    Any of the factors listed above and other factors contained in this Form 10 could cause our actual results to differ materially from the results implied by these or any other forward-looking statements made by us or on our behalf. We cannot assure you that our future results will meet our expectations. When you consider these forward-looking statements, you should keep in mind these risk factors and the other cautionary statements in this Form 10. Our forward-looking statements speak only as of the date made.




    TABLE OF CONTENTS

     

     

    PAGE

     

     

     

    ITEM 1

    DESCRIPTION OF BUSINESS

    3

     

     

     

    ITEM 1A

    RISK FACTORS

    4

     

     

     

    ITEM 2

    FINANCIAL INFORMATION 

    8

     

     

     

    ITEM 3

    PROPERTIES

    12

     

     


    ITEM 4

    SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT 

    12

     

     

     

    ITEM 5

    DIRECTORS AND EXECUTIVE OFFICERS 

    12

     

     

     

    ITEM 6

    EXECUTIVE COMPENSATION 

    13

     

     

     

    ITEM 7

    CERTAIN BENEFICIAL RELATIONSHIPS AND RELATED TRANSACTIONS 

    13

     

     

     

    ITEM 8

    LEGAL PROCEEDINGS 

    13

     

     

     

    ITEM 9

    MARKET PRICE OF AND DIVIDENDS ON THE REGISTRANT'S COMMON EQUITY AND RELATED STOCKHOLDER MATTERS 

    14

     

     

     

    ITEM 10

    RECENT SALES OF UNREGISTERED SECURITIES 

    14

     

     

     

    ITEM 11

    DESCRIPTION OF REGISTRANT'S SECURITIES TO BE REGISTERED 

    14

     

     

     

    ITEM 12

    INDEMNIFICATION OF DIRECTORS AND OFFICERS 

    15

     

     

     

    ITEM 13

    FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA 

    15

     

     

     

    ITEM 14

    CHANGES IN AND DISAGREEMENTS WITH INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM ON ACCOUNTING AND FINANCIAL DISCLOSURE 

    15

     

     

     

    ITEM 15

    FINANCIAL STATEMENTS AND EXHIBITS 

    15

     

     

     

    SIGNATURES

    16

     

     

     

     

    FINANCIAL STATEMENTS

    17



     

    ITEM 1 : DESCRIPTION OF BUSINESS


    Our Company

    Our business Since January 31, 2008, the Company has had minimal operations and no revenue and is currently seeking an acquisition or merger to bring an operating entity into the Company. The Company does not propose to restrict its search for a business opportunity to any particular industry or geographical area and may, therefore, engage in essentially any business in any industry. The Company has unrestricted discretion in seeking and participating in a business opportunity, subject to the availability of such opportunities, economic conditions, and other factors.

    The selection of a business opportunity in which to participate is complex and risky. Additionally, as the Company has only limited resources and may find it difficult to locate good opportunities. There can be no assurance that the Company will be able to identify and acquire any business opportunity which will ultimately prove to be beneficial to the Company and its shareholders. The Company will select any potential business opportunity based on management's business judgment.

    The activities of the Company are subject to several significant risks, which arise primarily as a result of the fact that we have no specific business, and may acquire or participate in a business opportunity based on the decision of management, which potentially could act without the consent, vote, or approval of the Company's shareholders. The risks faced by the Company are further increased as a result of its lack of resources and our inability to provide a prospective business opportunity with significant capital. Please find below information regarding the Company's various endeavors prior to January 31, 2008 and its status as an "emerging growth company".

    Our History

    Gold Entertainment Group, Inc. was originally incorporated in the State of Nevada on February 3, 1999 as a C corporation under the name ADVANCED MEDICAL TECHNOLOGIES INC. / CANADA. The fiscal year end is January 31 st

    On April 5, 2002, the Stock Exchange and Merger Agreement entered into between Gold Entertainment Group, Inc. and Advanced Medical Technologies, Inc. was filed with the Nevada Secretary of State. Advanced Medical Technologies, Inc., amended its name to Gold Entertainment Group, Inc. On August 28, 2007 the state of incorporation was changed from Nevada to Florida.

    Commencing January 31, 2004, Gold Entertainment Group, Inc. was a developer and marketer of a national multi-level, fixed- price DVD rental program, and sought to become a leading home entertainment sales and rental company.  Gold Entertainment Group, Inc. marketed its products and programs exclusively through an independent network of distributors whereby its distributors promoted the company's DVD rental service with products shipped directly to consumers.  The Company maintains the web site: www.GoldEntertainment.com

    At the time, the Company had operations through its main office in Florida, and a Canadian subsidiary in Toronto, Ontario.

    The company is not currently active.  During its operations, it had 11 full time employees.

    The company had as a wholly owned subsidiary, Quality Of Life Marketing Inc, a Canadian corporation, operated from rental facilities in Toronto, Ontario, Canada.  It was intended to use this as a basis for its international operations at a later date.  Quality of Life Marketing Inc has no direct employees, and its registration has lapsed.  The historical information for the subsidiary is included in the consolidated financial statements attached to this filing.   The subsidiary was administratively dissolved on September 25, 2009 with the State of Florida.  It is no longer in operation.

    We do not currently file reports with the Securities and Exchange Commission.  Upon the effectiveness of the registration statement of which this prospectus forms a part, we will be subject to the information and periodic reporting requirements of the Securities Exchange Act of 1934, as amended, and we intend to file periodic reports, proxy statements and other information with the Securities and Exchange Commission.

    Revenue

    We have no revenues for the years ended January 31, 2015 and 2016 and for the nine months ended October 31, 2016 or through the date of this filing.

    Our Strategy

    Our strategy is to seek an appropriate merger or acquisition candidate.

    Employees

    As of October 31, 2016, we have no full-time employees.  Management is concurrently engaged in other endeavors and devotes as much time as it deems necessary to handle the affairs of the Company with other services provided on a contract basis.

    Our Approach to the Business

    We believe there are opportunities to acquire companies that have existing revenue or are now operating under marginal circumstances and can be redeveloped for profitable operation as part of the Company. When we identify such a prospect we determine whether there is reason to believe the prospect has revenue potential or existing operations, determine a value for the prospect, and, if warranted under all the circumstances, pursue acquisition of the prospect.

    3



    ITEM 1: DESCRIPTION OF BUSINESS - continued

    Historically, Gold Entertainment has focused its acquisition and development of technology companies with either consumer or small business customers, and Gold Entertainment intends to continue with that focus. Nevertheless, should Gold Entertainment receive unsolicited proposals on the acquisition of businesses in other industries that are attractive, we will investigate and, if warranted, make an effort to acquire an interest in such properties at an acceptable price.

    Our Chief Executive Officer, Hamon Francis Fytton, leads our evaluation process, consulting with professionals engaged by the Company. Our Chief Financial Officer, Fred Schiemann, manages the financial analysis of prospective acquisitions with our Chief Executive Officer. We expect to hire independent contractors to perform specialized functions on an as needed basis.

    The Company has competitors and potential competitors include many companies of varying sizes, all of which are engaged in the acquisition and development of suitable business prospects. Most of our competitors have greater financial, personnel and other resources than we have. Consequently, they have greater leverage to use in acquiring prospects, hiring personnel and marketing their products. Accordingly, a high degree of competition in these areas is expected to continue.

    Gold Entertainment presently has no full-time executive, operational, and clerical employees.

    ITEM 1A: RISK FACTORS

    You should carefully consider the risk factors set forth below as well as the other information contained in this filing before investing in our common stock. Any of the following risks could materially and adversely affect our business, financial condition or results of operations. In such a case, you may lose all or part of your investment. The risks described below are not the only risks facing us. Additional risks and uncertainties not currently known to us or those we currently view to be immaterial may also materially adversely affect our business, financial condition or results of operations.

    Risks related to our business

    Because our auditors have issued a going concern opinion and we may not be able to achieve our objectives, we may have to suspend business operations should capital or other resources, such as management or other personnel cease to be available.

    Our auditors' report in our January 31, 2016, financial statements, expressed an opinion that the Company's capital resources as of January 31, 2016, are not sufficient to sustain operations. These conditions raise substantial doubt about our ability to continue as a going concern. There is the distinct possibility that we will no longer be a going concern and will cease operations.

    We depend heavily on our senior management and we may be unable to replace key executives if they leave

    The loss of the services of one or more members of our senior management team or our inability to attract, retain and maintain additional senior management personnel could harm our business, financial condition, results of operations and future prospects.  Our operations and prospects depend in large part on the performance of our senior management team, particularly Hamon Fytton Chief Executive Officer. In addition, we may not be able to find qualified replacements for him if his services are no longer available. We do not have key man insurance on Mr. Fytton.

    Mr. Fytton will continue to have substantial control over us and could delay or prevent a change in corporate control.

    As of October 31, 2016, Mr. Fytton owns all of our Preferred Stock, see Item 4, which has votes equal to 5,000 times the number of common shares outstanding. As a result, Mr. Fytton will have the ability to determine the outcome of matters submitted to our stockholders for approval, including the election of directors and any merger, consolidation or sale of all or substantially all of our assets. In addition, Mr. Fytton will have the ability to control the management and affairs of our company. Accordingly, this concentration of ownership may harm the market price of our common stock by:

    • delaying, deferring or preventing a change in control of our company;

    • impeding a merger, consolidation, takeover or other business combination involving our company; or

    • discouraging a potential acquirer from making a tender offer or otherwise attempting to obtain control of our company.

    We will require additional capital to fund our future activities. If we fail to obtain additional capital, we may not be able to implement fully our business plan, which could lead to a decline in reserves.

    We are dependent on our ability to obtain financing to supplement our cash flow from operations. Historically, we have financed our business plan and operations primarily with issuances of common stock. We also require capital to fund our capital budget.



    4


    ITEM 1A: RISK FACTORS - continued

    Risks related to our business - continued

    If we are successful in acquiring businesses we may require significant capital in order to expand their operations. We will be required to meet our needs from our internally generated cash flows, debt financings and equity financings.

    If our revenues decrease as a result of a lower stock price, operating difficulties, declines in demand for the Company's products or for any other reason, we may have limited ability to obtain the capital necessary to sustain our operations at current levels. We may, from time to time, need to seek additional financing. Even if additional capital is needed, we may not be able to obtain debt or equity financing on terms favorable to us, or at all. If cash generated by operations and available under our revolving credit facility is not sufficient to meet our capital requirements, the failure to obtain additional financing could result in a curtailment of our operations relating to exploration and development of our projects, which in turn could lead to a possible loss of businesses and a decline in any revenue.

    Competition for suitable acquisitions is intense, and many of our competitors have resources that are greater than ours.

    We operate in a highly competitive environment for acquiring suitable a company and trained personnel for its operation. Many of our competitors possess and employ financial, technical and personnel resources substantially greater than ours.

    Those companies may be able to develop and acquire more business prospects and productive properties than our financial or personnel resources permit. Our ability to acquire additional businesses in the future will depend on our ability to evaluate and select suitable companies and consummate transactions in a highly competitive environment. Also, there is substantial competition for capital available for early stage investment. We may not be able to compete successfully in the future in acquiring a suitable business, marketing its products, attracting and retaining quality personnel and raising additional capital.

    We depend on our management team and other key personnel. Accordingly, the loss of any of these individuals could adversely affect our business, financial condition and the results of operations and future growth.

    Our success largely depends on the skills, experience and efforts of our management team and other key personnel. The loss of the services of one or more members of our senior management team or of our other employees with critical skills needed to operate our business could have a negative effect on our business, financial condition, results of operations and future growth. We have entered into employment agreements with Hamon Francis Fytton, our President and Chief Executive officer. See "Executive Compensation Item 6 Employment agreements and other arrangements ." If any of these officers or other key personnel resign or become unable to continue in their present roles and are not adequately replaced, our business operations could be materially adversely affected.

    Our ability to manage our growth, if any, will require us to continue to train, motivate and manage our employees and to attract, motivate and retain additional qualified personnel. Competition for these types of personnel is intense, and we may not be successful in attracting, assimilating and retaining the personnel required to grow and operate our business profitably.

    Technological changes could put us at a competitive disadvantage.

    The technology industry, where most of our past efforts have been, is characterized by rapid and significant technological advancements and introductions of new products and services using new technologies. As new technologies develop, we may be placed at a competitive disadvantage, and competitive pressures may force us to implement those new technologies at a substantial cost. If other companies implement new technologies before we do, those companies may be able to provide enhanced capabilities and superior products compared with what we are able to provide. We may not be able to respond to these competitive pressures and implement new technologies on a timely basis or at an acceptable cost. If we are unable to utilize the most advanced commercially available technologies, our business could be materially and adversely affected.

    Attempts to grow our business could have an adverse effect on our ability to manage our growth effectively.

    Because of our small size, we desire to grow rapidly in order to achieve certain economies of scale. Although there is no assurance that this rapid growth will occur, to the extent that it does occur, it will place a significant strain on our financial, technical, operational and administrative resources. As we increase our services and enlarge the number of projects we are evaluating or in which we are participating, there will be additional demands on our financial, technical and administrative resources. The failure to continue to upgrade our technical, administrative, operating and financial control systems or the occurrence of unexpected expansion difficulties, including the recruitment and retention of geoscientists and engineers, could have a material adverse effect on our business, financial condition and results of operations.

    Our growth strategy could fail or present unanticipated problems for our business in the future, which could adversely affect our ability to make acquisitions or realize anticipated benefits of those acquisitions.

    Our growth strategy may include acquiring a suitable business acquisition. We may not be able to identify suitable acquisition opportunities or finance and complete any particular acquisition successfully.

    Furthermore, acquisitions involve a number of risks and challenges, including:

    • diversion of management's attention;

    • the need to integrate acquired operations;

    • potential loss of key employees of the acquired companies;

    • potential lack of operating experience in a geographic market of the acquired business; and

    • an increase in our expenses and working capital requirements.

    Any of these factors could adversely affect our ability to achieve anticipated levels of cash flows from the acquired businesses or realize other anticipated benefits of those acquisitions.

    5


    ITEM 1A: RISK FACTORS - continued

    Risks related to our business - continued

    We currently are and expect to remain an "emerging growth company," as defined in the Jumpstart Our Business Startups Act, or the JOBS Act, until the earliest of:

    • The last day of our fiscal year in which the fifth anniversary of an initial public offering of shares of our common stock occurs;

    • The end of the fiscal year in which our total annual gross revenues first exceed $1.0 billion;

    • The date on which we have, during the prior three-year period, issued more than $1.0 billion in non-convertible debt; and

    • The last day of a fiscal year in which we (1) have an aggregate worldwide market value of our common stock held by non-affiliates of $700 million or more, computed at the end of each fiscal year as of the last business day of our most recently completed second fiscal quarter and (2) have been an Exchange Act reporting company for at least one year (and filed at least one annual report under the Exchange Act.

      

    Under the JOBS Act, we are exempt from the provisions of Section 404(b) of the Sarbanes-Oxley Act, which would require that our independent registered public accounting firm provide an attestation report on the effectiveness of our internal control over financial reporting, until such time as we cease to be an "emerging growth company" and become an accelerated filer as defined in Rule 12b-2 under the Exchange Act.

    This may increase the risk that material weaknesses or other deficiencies in our internal control over financial reporting go undetected.

    Under the JOBS Act, emerging growth companies can delay adopting new or revised accounting standards until such time as those standards apply to private companies. We intend to make an irrevocable election not to take advantage of this exemption from new or revised accounting standards. We will therefore be subject to the same new or revised accounting standards as other public companies that are not emerging growth companies.

    We will be subject to ongoing Reporting Obligations s ubsequent to the effectiveness of this Registration Statement

    Subsequent to the effectiveness of this Registration Statement, we will be required to file annual reports, quarterly reports and current reports with the SEC. This information will be available at the SEC's public reference room at 100 F Street, N.E., Washington, D.C. 20549 and on the SEC's website at www.sec.gov. Information on the operation of the SEC's public reference room may be obtained by calling the SEC at (202) 551-8090 or (800) SEC-0330.

    Risks related to this filing

    There has been no public market for our common stock, and our stock price may fluctuate significantly.

    There is currently no public market for our common stock, and an active trading market may not develop or be sustained after the sale of all of the shares covered by this filing. The market price of our common stock could fluctuate significantly as a result of:

    • our operating and financial performance and prospects;

    • quarterly variations in the rate of growth of our financial indicators, such as net income per share, net income and revenues;

    • changes in revenue or earnings estimates or publication of research reports by analysts about us or the exploration and production industry;

    • liquidity and registering our common stock for public resale;  

    • actual or unanticipated variations in our reserve estimates and quarterly operating results;

    • sales of our common stock by our stockholders;

    • increases in our cost of capital;

    • changes in market valuations of similar companies;

    • adverse market reaction to any increased indebtedness we incur in the future;  

    • additions or departures of key management personnel;

    • actions by our stockholders;

    If a trading market develops for our common stock, stock markets in general experience volatility that often is unrelated to the operating performance of particular companies. These broad market fluctuations may adversely affect the trading price of our common stock.

    We do not anticipate paying any dividends on our common stock in the foreseeable future.

    We do not expect to declare or pay any cash or other dividends in the foreseeable future on our common stock, as we intend to use cash flow generated by operations to expand our business. A lack of a revolving credit facility will restrict our ability to pay cash dividends on our common stock, and we may be unable to enter into credit agreements or other borrowing arrangements in the future that restrict or limit our ability to pay cash dividends on our common stock.

    Certain stockholders' shares are restricted from immediate resale but may be sold into the market in the near future. This could cause the market price of our common stock to drop significantly.

    As of October 31, 2016, we have outstanding 8,981,501,513 shares of common stock.  Sales of a substantial number of shares of our common stock in the public markets following this filing by any of our existing stockholders (or persons to whom our existing stockholders may distribute shares of our common stock), or the perception that such sales might occur, could have a material adverse effect on the price of our common stock or could impair our ability to obtain capital through an offering of equity securities.

    6


    ITEM 1A: RISK FACTORS - continued

    Risks related to this filing - continued

    You may experience dilution of your ownership interests due to the future issuance of additional shares of our common stock.

    We may in the future issue our previously authorized and unissued securities, resulting in the dilution of the ownership interests of our present stockholders and purchasers of common stock offered hereby. We are currently authorized to issue 25 billion shares of common stock and 50 million shares of preferred stock with preferences and rights as determined by our board of directors. The potential issuance of such additional shares of common stock may create downward pressure on the trading price of our common stock.

    We may also issue additional shares of our common stock or other securities that are convertible into or exercisable for common stock in connection with the hiring of personnel, future acquisitions, future public offerings or private placements of our securities for capital raising purposes, or for other business purposes.

    If equity research analysts do not publish research or reports about our business or if they issue unfavorable commentary or downgrade our common stock, the price of our common stock could decline.

    The trading market for our common stock may rely in part on the research and reports that equity research analysts publish about our business and us. We do not control the opinions of these analysts. The price of our stock could decline if one or more equity analysts downgrade our stock or if those analysts issue other unfavorable commentary or cease publishing reports about our business or us.

    The availability of shares for sale in the future could reduce the market price of our common stock.

    In the future, we may issue securities to raise cash for acquisitions. We may also acquire interests in outside companies by using a combination of cash and our common stock or just our common stock. We may also issue securities convertible into our common stock. Any of these events may dilute your ownership interest in our company and have an adverse impact on the price of our common stock.

    In addition, sales of a substantial amount of our common stock in the public market, or the perception that these sales may occur, could reduce the market price of our common stock. This could also impair our ability to raise additional capital through the sale of our securities.

    Our common stock can become subject to penny stock regulation.

    As a penny stock, our common stock may become subject to additional disclosure requirements for penny stocks mandated by the Penny Stock Reform Act of 1990. The SEC Regulations generally define a penny stock to be an equity security that is not traded on the NASDAQ Stock Market or another recognized stock exchange and has a market price of less than $5.00 per share.

    Depending upon our stock price, we may be included within the SEC Rule 3(a)(51) definition of a penny stock and have our common stock considered to be a "penny stock," with trading of our common stock covered by Rule 15g-9 promulgated under the Securities Exchange Act of 1934.

    Under this rule, broker-dealers who recommend such securities to persons other than established customers and accredited investors must make a special written disclosure to, and suitability determination for, the purchaser and receive the purchaser's written agreement to a transaction prior to sale. The regulations on penny stocks limit the ability of broker-dealers to sell our common stock and thus may also limit the ability of purchasers of our common stock to sell their securities in the secondary market. Our common stock will not be considered a "penny stock" if our net tangible assets exceed $2,000,000 or our average revenue is at least $6,000,000 for the previous three years.

    7


    ITEM 2: FINANCIAL INFORMATION

    Management's Discussion and Analysis of Financial Condition and Results of Operations.

    This registration statement on Form 10 and other reports filed by the Company from time to time with the SEC (collectively, the "Filings") contain or may contain forward-looking statements and information that are based upon beliefs of, and information currently available to, the Company's management as well as estimates and assumptions made by Company's management. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. When used in the Filings, the words "anticipate," "believe," "estimate," "expect," "future," "intend," "plan," or the negative of these terms and similar expressions as they relate to the Company or the Company's management identify forward-looking statements. Such statements reflect the current view of the Company with respect to future events and are subject to risks, uncertainties, assumptions, and other factors, including the risks relating to the Company's business, industry, and the Company's operations and results of operations. Should one or more of these risks or uncertainties materialize, or should the underlying assumptions prove incorrect, actual results may differ significantly from those anticipated, believed, estimated, expected, intended, or planned.

    Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, the Company cannot guarantee future results, levels of activity, performance, or achievements. Except as required by applicable law, including the securities laws of the United States, the Company does not intend to update any of the forward-looking statements to conform these statements to actual results.

    Our financial statements are prepared in accordance with accounting principles generally accepted in the United States ("GAAP"). These accounting principles require us to make certain estimates, judgments and assumptions. We believe that the estimates, judgments and assumptions upon which we rely are reasonable based upon information available to us at the time that these estimates, judgments and assumptions are made. These estimates, judgments and assumptions can affect the reported amounts of assets and liabilities as of the date of the financial statements as well as the reported amounts of revenues and expenses during the periods presented. Our financial statements would be affected to the extent there are material differences between these estimates and actual results. In many cases, the accounting treatment of a particular transaction is specifically dictated by GAAP and does not require management's judgment in its application. There are also areas in which management's judgment in selecting any available alternative would not produce a materially different result. The following discussion should be read in conjunction with our financial statements and notes thereto appearing elsewhere in this report.

    The following discussion of our financial condition and results of operations should be read in conjunction with our financial statements and the notes to those statements included elsewhere in this prospectus.  In addition to the historical financial information, the following discussion and analysis contains forward-looking statements that involve risks and uncertainties.  Our actual results may differ materially from those anticipated in these forward-looking statements as a result of certain factors, including those set forth under "Risk Factors" and elsewhere in this prospectus.

    PLAN OF OPERATION

    The Company is in the process of investigating potential business ventures, which, in the opinion of management, will provide a source of eventual profit to the Company.  Such involvement may take many forms, including the acquisition of an existing business or the acquisition of assets to establish subsidiary businesses. The Company's management does not expect to remain involved as management of any acquired business.

    As the Company possesses limited funds, the Company will be extremely limited in its attempts to locate potential business situations for investigation.  The Company intends to commence, on a limited basis, the process of investigating possible merger and acquisition candidates, and believes that the Company's status as a publicly held corporation will enhance its ability to locate such potential business ventures.  No assurance can be given as to when the Company may locate suitable business opportunities and such opportunities may be difficult to locate; however, the Company intends to actively search for potential business ventures for the foreseeable future.

    Business opportunities, if any arise, are expected to become available to the Company principally from the personal contacts of our officer and director. While it is not expected that the Company will engage professional firms specializing in business acquisitions or reorganizations, such firms may be retained if funds become available in the future, and if deemed advisable.  Opportunities may thus become available from professional advisors, securities broker-dealers, venture capitalists, members of the financial community, and other sources of unsolicited proposals.  In certain circumstances, the Company may agree to pay a finder's fee or other form of compensation, including perhaps one-time cash payments, payments based upon a percentage of revenues or sales volume, and/or payments involving the issuance of securities, for services provided by persons who submit a business opportunity in which the Company shall decide to participate, although no contracts or arrangements of this nature presently exist.  The Company is unable to predict at this time the cost of locating a suitable business opportunity.

    The analysis of business opportunities will be undertaken by or under the supervision of the Company's management.  Current management does not have significant experience in evaluating potential mergers or acquisitions. Among the factors which management will consider in analyzing potential business opportunities are the available technical, financial and managerial resources; working capital and financial requirements; the history of operation, if any; future prospects; the nature of present and anticipated competition; potential for further research, developments or exploration; growth and expansion potential; the perceived public recognition or acceptance of products or services; name identification, and other relevant factors.

    It is not possible at present to predict the exact matter in which the Company may participate in a business opportunity.  Specific business opportunities will be reviewed and, based upon such review, the appropriate legal structure or method of participation will be decided upon by management.  Such structures and methods may include, without limitation, leases, purchase and sale agreements, licenses, joint ventures; and may involve merger, consolidation or reorganization.  The Company may act directly or indirectly through an interest in a partnership, corporation or reorganization.  However, it is most likely that any acquisition of a business venture the Company would make would be by conducting a reorganization involving the issuance of the Company's restricted securities. Such a reorganization may involve a merger (or combination pursuant to state corporate statutes, where one of the entities dissolves or is absorbed by the other), or it may occur as a consolidation, where a new entity is formed and the Company and such other entity combine assets in the new entity.  A reorganization may also occur, directly or indirectly, through subsidiaries, and there is no assurance that the Company would be the surviving entity. Any such reorganization could result in loss of control of a majority of the shares.  The Company's present director may be required to resign in connection with reorganization.  Substantial dilution of percentage equity ownership may result to the shareholders, in the discretion of management.

    The Company may choose to enter into a venture involving the acquisition of or merger with a company, which does not need substantial additional capital but desires to establish a public trading market of its securities.  Such a company may desire to consolidate its operations with the Company through a merger, reorganization, asset acquisition, or other combination, in order to avoid possible adverse consequences of undertaking its own public offering.  (Such consequences might include expense, time delays or loss of voting control).  In the event of such a merger, the Company may be required to issue significant additional shares, and it may be anticipated that control over the Company's affairs may be transferred to others.

    As part of their investigation of acquisition possibilities, the Company's management may meet with executive officers of the business and its personnel; inspect its facilities; obtain independent analysis or verification of the information provided, and conduct other reasonable measures, to the extent permitted by the Company's limited resources and management's limited expertise.  Generally, the Company intends to analyze and make a determination based upon all available information without reliance upon any single factor as controlling.

    In all likelihood, the Company's management will be inexperienced in the areas in which potential businesses will be investigated and in which the Company may make an acquisition or investment.  Thus, it may become necessary for the Company to retain consultants or outside professional firms to assist management in evaluating potential investments, and to hire managers or outside professional firms to assist management in evaluating potential investments, and to hire managers to run or oversee the operations of its acquisitions of investments.  The Company can give no assurance that we will be able to find suitable consultants or managers.  The Company has no policy regarding the use of consultants,

    however, if management, in its discretion, determines that it is in the best interests of the Company, management may seek consultants to review potential merger or acquisitions candidates.  There are currently no contracts or agreements between any consultant and any companies that are searching for "shell" companies with which to merge.

    It may be anticipated that the investigation of specific business opportunities and the negotiation, drafting and execution of relevant agreements, disclosure documents and other instruments will require substantial management time and attention, and substantial costs for accountants, attorneys and others.  Should a decision thereafter be made not to participate in a specific business opportunity, it is likely that costs already expended would not be recoverable.  It is likely, in the event a transaction should eventually fail to be consummated, for any reason, that the costs incurred by the Company would not be recoverable.  The Company's officer and director are entitled to reimbursement for all expenses incurred in their investigation of possible business ventures on behalf of the Company, and no assurance can be given that if the Company has available funds they will not be depleted by such expenses.

    Based on current economic and regulatory conditions, management believes that it is possible, if not probable, for a company like the Company, without assets or many liabilities, to negotiate a merger or acquisition with a viable private company.  The opportunity arises principally because of the high legal and accounting fees and the length of time associated with the registration process of "going public".  However, should any of these conditions change, it is very possible that there would be little or no economic value for anyone taking over control of the Company.

    Management of the Company believes the best chance to obtain value for the shareholders is to seek a merger or acquisition with an existing business.  At this time, management has been unable to locate any potential mergers or acquisitions.

    Management is not able to determine the time or resources that will be necessary to locate and acquire or merge with a business prospect.  There is no assurance that the Company will be able to acquire an interest in any such prospects, products or opportunities that may exist or that any activity of the Company, regardless of the completion of any transaction, will be profitable.

    If and when the Company locates a business opportunity, management of the Company will give consideration to the dollar amount of that entity's profitable operations and the adequacy of its working capital in determining the terms and conditions under which the Company would consummate such an acquisition.  Potential business opportunities, no matter which form they may take, will most likely result in substantial dilution for the Company's shareholders due to the issuance of stock to acquire such an opportunity.


    8


    ITEM 2: FINANCIAL INFORMATION - continued

    Plan of Operations - continued

    The following table provides our revenue, cost of revenue, gross loss, operating expenses, loss from operations, other income and net loss information for each of the periods indicated below.


     

     

     

     

     

     

     

     

     

    For the nine months ended October 31, 2016

     

     

    For the nine months ended October 31, 2015

     

     

     

    (Unaudited)

     

     

    (Unaudited)

     

    Revenue        

     

    $

    -

     

     

    $

    -

     

    Cost of revenue

     

     

    -

     

     

     

    -

     

    Gross loss

     

     

    -

     

     

     

    -

     

    Operating expenses

     

     

    19,190

     

     

     

    19,903

     

    Loss from operations

     

     

    (19,190

    )

     

     

    (19,903

    )

    Other (expense)

     

     



     

     

    (5,023

    )

    Net (loss)

     

    $

    (19,190

    )

     

    $

    (24,926

    )


     

     

     

     

     

     

     

     

     

     

     

    For the year ended January 31, 2016

     

     

    For the year ended January 31, 2015

     

     

     

     

     

     

     

     

    Revenue        

     

    $

    -

     

     

    $

    -

     

    Cost of revenue

     

     

    -

     

     

     

    -

     

    Gross loss

     

     

    -

     

     

     

    -

     

    Operating expenses

     

     

    (31,686

    )

     

     

    (26,071

    )

    Loss from operations

     

     

    (31,686

    )

     

     

    (26,071

    )

    Other (expense)

     

     

    (5,022

     

     

    (13,264

    )

    Net (loss)

     

    $

    (36,708

     

    $

    (39,335

    )

     

    Revenue

     

    We currently generate no revenue.

    Cost of Revenue

    There is no cost of revenue.

     

    9


    ITEM 2: FINANCIAL INFORMATION - continued


    Operating Expenses

    General and Administrative Expenses .

    General and administrative expenses consist primarily of administrative compensation, travel, legal and other professional services fees, and other general overhead costs. For the year ending January 31, 2015, the majority of general and administrative expenses involved consulting expenses of $24,000.  The general and administrative expenses for the year ending January 31, 2016 were $31,686 and included mainly consulting expenses and stock transfer agency fees.  General and administrative expenses for the nine months ended October 31, 2016 and 2015 were $19,190 and $19,903 respectively.  The majority of 2016 expenditures related to consultant fees.

    Loss from Operations

    Our ability to continue is limited without additional debt or equity financing from outside investors. These matters raise substantial doubt about our ability to continue as a going concern. Management plans to fund operations by raising additional capital through the issuance of equity securities. Our financial statements do not include any adjustments relating to the recovery of the recorded assets or the classification of the liabilities that might be necessary should we be unable to continue as a going concern.

    Other (Loss)

    In the fiscal year ending January 31, 2016 the total other income was as a result of a gain on extinguishment of debt in the amount of $6,119.  For the year ending January 31, 2015, the $13,264 was interest expense.  The net difference of other expenses for the nine months ended October 31, 2016 related to interest expense.

    Going Concern

    Our independent registered public accounting firm has added an explanatory paragraph to their audit opinion issued in connection with the financial statements of Gold Entertainment Group, Inc. for the years ending January 31, 2016 and 2015, with respect to their doubt about our ability to continue as a going concern due to our lack of revenues, recurring losses from operations, cash used in operations, working capital deficit, stockholder deficit and our accumulated deficit.

    As reflected in the accompanying condensed financial statements, the Company has a net loss of $19,190 and net cash used in operations of $2,588 for the nine months ended October 31, 2016, and an accumulated deficit of $3,012,175, stockholders' deficiency of $121,631, and working capital deficit of $121,631 at October 31, 2016.  The Company has net cash used in operations of $8,402 for the year ended January 31, 2016, and an accumulated deficit of $2,992,985, stockholders' deficiency of  $102,441, and working capital deficit of $102,441 at January 31, 2016, and for the year ended January 31, 2015, had a net loss of $39,335 and cash provided from operations of $0 and an accumulated deficit of $2,956,277, stockholders' deficiency of $ 195,373, and working capital deficit of $195,373 at January 31, 2015, and has been inactive with no revenues since April 2005.  

    The ability of the Company to continue as a going concern is dependent on the Company's ability to further implement its business plan and/or raise capital.  The Company plans to locate an operating company to merge with or sell a controlling interest to a third party who would subsequently merge an operating business into the Company.  Management believes that the actions presently being taken provide the opportunity for the Company to continue as a going concern.  The consolidated financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.  

    Income Tax Expense

    The Company has unused net operating loss carryforwards for income tax purposes totaling approximately $2,992,985 and $2,956,277 at January 31, 2016 and 2015, respectively, expiring through the year 2029 subject to the Internal Revenue Code Section 382, which places a limitation on the amount of taxable income that can be offset by net operating losses after a change in ownership.  In accordance with certain provisions of the Tax Reform Act of 1986 a change in ownership of greater than fifty (50%) percent of a corporation within a three (3) year period will place an annual limitation on the corporation's ability to utilize its existing tax benefit carryforwards.   Such a change in ownership may have occurred in connection with the private placement of securities. Additionally, the Company's utilization of its tax benefit carryforwards may be restricted in the event of possible future changes in the ownership of the Company from the exercise of options or other future issuances of common stock.


    10


    ITEM 2: FINANCIAL INFORMATION - continued

     

    Stock-Based Compensation

    There are no stock options in effect at this time.  

    Liquidity and Capital Resources

    As of October 31, 2016, we had an accumulated deficit of $3,012,175 and cash in the bank of $514.  Since our inception, we have experienced negative cash flows and have met our operating requirements by incurring debt.   From inception additional cash has been obtained from related parties in the form of loans. We relied primarily on these loans to meet our cash requirements.  

    Litigation

    From time to time, we may become subject to legal proceedings, claims and litigation arising in the ordinary course of business. We are not currently a party to any material legal proceedings, nor are we aware of any other pending or threatened litigation that would have a material adverse effect on our business, operating results, cash flows or financial condition should such litigation be resolved unfavorably.

    Off-Balance Sheet Arrangements

    We do not have off-balance sheet arrangements. As part of our ongoing business, we do not participate in transactions that generate relationships with unconsolidated entities or financial partnerships, such as entities often referred to as structured finance or special purpose entities, often established for the purpose of facilitating off-balance sheet arrangements or other contractually narrow or limited purposes.

    Recently Issued Accounting Standards

    None

    Inflation

    Inflation was not a material factor in either revenue or operating expenses during the years ended January 2016 and 2015.

    Critical Accounting Estimates

    We apply the following critical accounting policies in the preparation of our financial statements:

    Income taxes

    Current income taxes are based on the year's taxable income for federal and state income tax reporting purposes.  Deferred income taxes are provided on a liability basis whereby deferred tax assets are recognized for deductible temporary differences and operating loss carryforwards and deferred tax liabilities are recognized for taxable temporary differences.  Temporary differences are the differences between the reported amounts of assets and liabilities and their tax bases.  Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized.  Deferred tax assets and liabilities are adjusted for the effects of changes in tax law and rates on the date of enactment.

    In June 2006, the FASB issued SFASB Interpretation No. 48, "Accounting for Uncertainty in Income Taxes - an interpretation of FASB Statement No. 109" ("FIN 48").  This statement clarifies the accounting for uncertainty in income taxes recognized in an enterprise's financial statements in accordance with SFAS No. 109, "Accounting for Income Taxes."  FIN 48 prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return.  FIN 48, which is effective for fiscal years beginning after December 15, 2006, also provides guidance on derecognition, classification, interest and penalties, accounting in interim periods, disclosure, and transition.  The Company believes its tax positions are all highly certain of being upheld upon examination.  As such, the Company has not recorded a liability for unrecognized tax benefits.  As of January 31, 2009, the tax years 2006 through 2008 remain open for IRS audit.  The Company has received no notice of audit from the Internal Revenue Service for any of the open tax years.  The adoption of the provisions of FIN 48 did not have a material impact on our financial position and results of operations.

    On May 2, 2007, the FASB issued FASB Staff Position FIN 48-1, Definition of Settlement in FASB Interpretation No. 48, ("FSP FIN 48-1").  FSP FIN 48-1 amends FIN 48 to provide guidance on how an entity should determine whether a tax position is effectively settled for the purpose of recognizing previously unrecognized tax benefits.  The term "effectively settled" replaces the term "ultimately settled" when used to describe recognition, and the terms "settlement" or "settled" replace the terms "ultimate settlement" or "ultimately settled" when used to describe measurement of a tax position under FIN 48.  FSP FIN 48-1 clarifies that a tax position can be effectively settled upon the completion of an examination by a taxing authority without being legally extinguished.  For tax positions considered effectively settled, an entity would recognize the full amount of tax benefit, even if the tax position is not considered more likely than not to be sustained based solely on the basis of its technical merits and the statute of limitations remains open.  The adoption of FSP FIN 48-1 did not have an impact on the accompanying consolidated financial statements.

    Contingencies and Litigation

    None

    Off Balance Sheet Arrangements

    The Company has not had any off balance sheet arrangements.

     

    11


    ITEM 3: PROPERTIES

    Our corporate office is located at 429 W PLUMB LANE, Reno, Nevada 89509. This is the office of our CFO, and is provided at no cost to the Company. The Company does not own or lease any properties.

    ITEM 4: SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT

    The following table sets forth as of October 31, 2016 the number and percentage of the outstanding shares of common stock, which according to the information available to Gold Entertainment, were beneficially owned by (i) each person who is currently a director, (ii) each executive officer, and (iii) all current directors and executive officers as a group. Except as listed in the table below, to the knowledge of Gold Entertainment, no person is the beneficial owner of five percent or more of the outstanding common stock other than as stated for them herein. Except as otherwise indicated, the persons named in the table have sole voting and dispositive power with respect to all shares beneficially owned, subject to community property laws where applicable.

     

    Name and Address of Beneficial Owner

     

    Number of

    Common Shares

     

     

    Percent of

    Class

     

    Hamon Fytton (1)

    429 W PLUMB LANE,

    Reno, Nevada 89509

     

     

    3,309,500,000

     

     

     

    36.8

     

     

     

     

     

     

     

     

     

     

    Fred Schiemann

    429 W PLUMB LANE,

    Reno, Nevada 89509

     

     

    -0-

     

     

     

    0

     

     

     

     

     

     

     

     

     

     

    All executive officers, beneficial owners, and directors as a group

     

     

    3,309,500,000

     

     

     

    36.8

     

    (1) Mr. Fytton additionally owns all of the 1,000,000 SERIES A Preferred shares that have voting rights of 1:5,000 with respect to Common Stock.

    See Item 11. Description of Registrants Securities to be Registered. Series A Preferred Stock. In March 2010, management of the Company restructured its share structure in the Company.  As part of this restructuring, Mr. Fytton was issued 1,000,000 shares of Series A Preferred Stock.  These 1,000,000 shares represent all of the shares of Series A Preferred Stock authorized.  The holders of the Series A Preferred Stock have votes equal to 5,000 times the number of shares outstanding giving voting control of the Company to Mr. Fytton.

    ITEM 5: DIRECTORS AND EXECUTIVE OFFICERS

    Directors and Officers

    The following table sets forth the names, ages, and positions with Gold Entertainment for each of the directors and officers as of October 31, 2016.

     

    Name

     

    Age

     

    Position

     

    Since

    Hamon Fytton

     

     

    63

     

    Chief Executive Officer, and President

     

    April 2002

     

     

     

     

     

      

     

     

    Fred Schiemann

     

     

    65

     

    Chief Financial Officer

     

    February 2013

     

     

     

     

     

     

     

     

    Mr. Fytton does not hold a directorship in any other publicly held company. Mr. Schiemann is an officer and director in Viratech Corp., Interactive Health Network and Solos Endoscopy Inc., all publicly held companies.

    All directors hold office until the next annual meeting of stockholders and until their successors are elected and qualify. Officers serve at the discretion of the Board of Directors. The following is information on the business experience of each director and officer.

    Hamon Fytton - CEO and Director

    Over the last five years Mr. Fytton acted as a consultant to several public companies and private companies seeking to become public. In this capacity he has overseen the preparation of numerous registration statements, subscription agreements, SEC filings, prospectus offerings and general company information packets. He has also often acted as an Officer and/or director for several companies, aiding in their transition from private to public. He has conducted several seminars in the past 12 months on the JOBS Act and the new Crowd Funding and REG A+ regulations. He continues to consult with various investment groups in the US and other countries.

    In 2016 Mr. Fytton became the CEO and majority shareholder in Mayflower Investment Group Inc., a real estate company that filed a REG A + filing with the SEC that became effective October 31, 2016.

    In 1997 Mr. Fytton co-founded Internet Advisory Corporation, which became a public company within the first year. Within three years the company had a market capitalization of over $100 million. He is currently the CEO, Director and majority shareholder of Gold Entertainment Group, Inc. a public company.

    Fred Schiemann - Chief Financial Officer  and Director

    Fred Schiemann is a financial executive and a licensed CPA with broad experience in all aspects

    of accounting, auditing and financial management. He has direct experience with real estate, financial consulting and venture capital. He is interested in early-stage startups as well as companies seeking to go public and take advantage of financial markets. He specialized in CFO in a box services for small and micro-cap public companies. Prior to that, on June 1, 2011 he held a position at the major commercial real estate company Reis, Inc. that is publicly traded on the NASDAQ as a commercial Real Estate Research Analyst. In that position, he gathered market data for multi-family and warehouses all throughout the country. After researching this information, he would compile packages which were then purchased by major banks that included market data such as average rent, sale prices, occupancy, cap rates etc. for these buildings throughout the country.

    Over the last five years Mr. Schiemann has been heavily involved in the commercialization of various technologies in the biotechnology arena. He continues to serve as officer and or board member for the following public companies; Solos Endoscopy, Inc., Lifeline Biotechnologies, Inc. and Viratech Corp.

    Since 1982, Mr. Schiemann has owned and operated a CPA practice specializing in auditing, tax practice, administration of public and private companies. He has served on the board of several public companies and continues to act as an accountant and consultant to the industry.

    Board Meetings

    The Board of Directors meets at least four times during the year. All directors attended at least 75 percent of the meetings of the Board.

    Board Compensation

    Effective January 31, 2016 Gold Entertainment's Directors are not compensated for attending meetings of the Board of Directors or for attending meetings of Board committees. Expenses are reimbursed.

     

    12


     ITEM 6: EXECUTIVE COMPENSATION

    Annual Compensation

    The following table sets forth certain information regarding the annual and long-term compensation for services in all capacities to Gold Entertainment for the years ended January 31, 2016, January 31, 2015 and through October 31, 2016 of those persons who were executive officers of Gold Entertainment for the year ended January 31, 2016, or who receive annual salary and bonuses exceeding $100,000.


     

     

     

     

    Annual

     

     

    Long Term

     

     

     

     

     

    Compensation

     

     

    Compensation

     

     

     

     

     

     

     

     

     

     

    Name and Principal Position

     

    Year

     

    Salary ($)

     

     

    Warrant

    Awards($)

     

    Hamon Fytton

     

    2016

     

    $12,000

     

     

     

    -0-

     

    President and CEO

     

    2015

     

    $12,000

     

     

    $

    -0-

     

     

     


     


     

     

     


     


     

     

     

     

     

     

     

     

     

     

    Fred Schiemann

     

    2016

     

    $12,000


     

     

     

    -0-

     

    Chief Financial Officer

     

    2015

     

    $12,000

     

     

    $

    -0-

     

     

     

     

     

     

     

     

     

     

     

     

    Stock Options

    No options are currently issued to any executive, employee, consultant or investor.

    Executive Compensation Arrangements

    Gold Entertainment has not entered into employment contracts with Mr. Fytton as Chief Executive Officer, nor with Mr. Schiemann as Chief Financial Officer. They both have consulting agreements.

     

    The current consulting agreements of the executive officers are as follows:

     

     

     

    Hamon F. Fytton,Chief Executive Officer

      

    $12,000

    per year

    Fred Schiemann, Chief Financial Officer

      

    $12,000

    per year

    The above consulting agreements for Mr. Fytton and Mr, Schiemann indicated has been booked as an accrued liability.


    ITEM 7: CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS

    None. At various times the Officers and Directors have advanced money to pay expenses on behalf of the Company. As of October 31, 2016 $13,445 is due to Mr. Fytton.

    ITEM 8: LEGAL PROCEEDINGS

     

    Neither Gold Entertainment nor any of its officers, directors or holders of five percent or more of its common stock is a party to any additional material pending legal proceedings and to the best of our knowledge, no additional such proceedings by or against Gold Entertainment or its officers, or directors or holders of five percent or more of its common stock have been threatened.


    13


    ITEM 9: MARKET PRICE OF AND DIVIDENDS ON THE REGISTRANT'S

    COMMON EQUITY AND RELATED STOCKHOLDER MATTERS

    Market Price and Stockholder Matters

    Gold Entertainment's common stock trades in the pink sheets market and quotations for the common stock are listed in the "Pink Sheets" published by the National Quotation Bureau under the symbol "GEGP". The following table sets forth for the respective periods indicated the prices of Gold Entertainment's common stock in this market as reported and summarized by the National Quotation Bureau. Such prices are based on inter-dealer bid and asked prices, without markup, markdown, commissions, or adjustments and may not represent actual transactions.

     

    Calendar Quarter Ended

     

    Low Bid ($)

     

     

    High Bid ($)

     

    April 30, 2014

     

     

    0.0001

     

     

     

    0.0002

     

    July 31, 2014

     

     

    0.0001

     

     

     

    0.0002

     

    October 31, 2014

     

     

    0.0001

     

     

     

    0.0002

     

     

     

     

     

     

     

     

     

     

    Jan 31, 2015

     

     

    0.0001

     

     

     

    0.0002

     

    April 30, 2015

     

     

    0.0001

     

     

     

    0.0002

     

    July 31, 2015

     

     

    0.0001

     

     

     

    0.0002

     

    October 31, 2015

     

     

    0.0001

     

     

     

    0.0002

     

     

     

     

     

     

     

     

     

     

    Jan 31, 2016

     

     

    0.0001

     

     

     

    0.0002

     

    April 30, 2016

     

     

    0.0001

     

     

     

    0.0002

     

    July 31, 2016

     

     

    0.0001

     

     

     

    0.0002

     

    October 31, 2016

     

     

    0.0001

     

     

     

    0.001

     

    On October 31, 2016 there were 100 holders of record of our common stock listed by our transfer agent.

    Dividend Policy

    We have never paid cash dividends and have no plans to do so in the foreseeable future. Our future dividend policy will be determined by our board of directors and will depend upon a number of factors, including our financial condition and performance, our cash needs and expansion plans, income tax consequences, and the restrictions that applicable laws, any future preferred stock instruments, and any future credit arrangements may then impose.

    ITEM 10: RECENT SALES OF UNREGISTERED SECURITIES

    Since February 1, 2014 through October 31, 2016, we sold and issued the unregistered securities described below. We believe that each of the securities transactions from the last three years described below was exempt from the registration requirements of the Securities Act pursuant to Section 4(2) as a transaction not involving any public offering and Regulation D promulgated under the Securities Act of 1933. In each case, the number of investors was limited, the investors were either all accredited and/or otherwise qualified and had access to material information about the registrant, and restrictions were placed on the resale of the securities sold.

    • Shares issued for Cash- none.

    • Shares issued for Services - none.

    • Shares issued to Management - none.

    Warrants

    The Company has not issued any warrants.

    ITEM 11: DESCRIPTION OF REGISTRANT'S SECURITIES TO BE REGISTERED

      Description of Common Stock

    We are authorized to issue 25,000,000,000 shares of our Common Stock, $.0001 par value (the "Common Stock"). As of October 31, 2016, there were 8,981,501,513 shares of our Common Stock were outstanding. Each share of the Common Stock is entitled to share equally with each other share of Common Stock in dividends from sources legally available therefore, when, and if, declared by our board of directors and, upon our liquidation or dissolution, whether voluntary or involuntary, to share equally in the assets of the Company that are available for distribution to the holders of the Common Stock. Each holder of Common Stock is entitled to one vote per share for all purposes, except that in the election of directors, each holder shall have the right to vote such number of shares for as many persons as there are directors to be elected. Cumulative voting shall not be allowed in the election of directors or for any other purpose, and the holders of Common Stock have no preemptive rights, redemption rights or rights of conversion with respect to the Common Stock. Our board of directors is authorized to issue additional shares of our Common Stock within the limits authorized by our Articles of Incorporation and without stockholder action. All shares of Common Stock have equal voting rights, and voting rights are not cumulative.

    We have not paid any cash dividends since our inception.


    14


    ITEM 11: DESCRIPTION OF REGISTRANT'S SECURITIES TO BE REGISTERED - continued

    Description of Preferred Stock

    We are authorized to issue 50,000,000 shares of Preferred Stock at no par value (the "Preferred Stock"). There are 1,000,000 shares of SERIES A Preferred Stock outstanding. The remaining shares of Authorized Preferred Stock carries such relative rights, preferences and designations as may be determined by our Board of Directors in its sole discretion upon the issuance of any shares of Preferred Stock.

    Preferred Stock

    We have one class of Preferred Stock and SERIES A Preferred Stock.  The SERIES A Preferred Stock, consisting of 1,000,000 shares, is all owned by Mr. Fytton, our CEO.

    Holders of the SERIES A Preferred stock are not entitled to receive any dividend, the stock is not transferrable, do not participate in any liquidation, and the stock is convertible into common shares at the ratio of 1:5,000.  These shares may be transferred only to an entity for estate planning purposes provided that entity is controlled by the holder, in this case, Mr. Fytton.

    The 1,000,000 shares of SERIES A Preferred Stock have the number of votes equal to 5,000 times the number of shares of common stock outstanding.  Accordingly, except for votes requiring more than a majority vote of shares of common stock, Mr. Fytton will determine the outcome of the vote.  The only such provision of Florida law or as required by our Articles of Incorporation or Bylaws is the removal of directors.

    General Description of Preferred Stock

    The shares of Preferred Stock, other than the SERIES A Preferred Stock, could be issued from time to time by our Board of Directors in its sole discretion without further approval or authorization by the stockholders, in one or more series, each of which series could have any particular distinctive designations as well as relative rights and preferences as determined by our Board of Directors. The relative rights and preferences that may be determined by our Board of Directors in its discretion from time to time include but are not limited to the following:

    • the rate of dividend and whether the dividends are to be cumulative and the priority, if any, of dividend payments relative to other series in the class;

    • whether the shares of any such series may be redeemed, and if so, the redemption price and the terms and conditions of redemption;

    • the amount payable with respect to such series in the event of voluntary or involuntary liquidation and the priority, if any, of each series relative to other series in the class with respect to amounts payable upon liquidation and sinking fund provision, if any, for the redemption or purchase of the shares of that series; and

    • the terms and conditions, if any, on which the shares of a series may be converted into or exchanged for shares of any class, whether common or preferred, or into shares of any series of the same class, and if provision is made for conversion or exchange, the times, prices, rates, adjustments and other terms.

    We believe that the availability of preferred stock provides flexibility in structuring future financings, should the need for additional financing arise. We have no plans, understandings, arrangements, or agreements for issuing any shares of preferred stock at the present time.

    Description of Preferred Stock - continued

    Our authorized but unissued preferred stock could be issued in one or more transactions, which would make more difficult or costly, and less likely, a takeover of Gold Entertainment. Issuing additional shares of stock would also have the effect of diluting the stock ownership of persons seeking to obtain control of Gold Entertainment. Moreover, certain companies have issued rights to purchase their preferred stock, with such rights having terms designed to encourage in certain potential acquisitions negotiation with the board. The authorized but unissued shares of preferred stock would be available for use in connection with the issuance of such rights. Gold Entertainment does not intend to adopt any anti-takeover measures at the present time.

      Shares Eligible For Future Sale

    At October 31, 2016 Gold Entertainment had 8,981,501,513 shares of common stock outstanding, of which 4,109,652,102 shares constituted "restricted securities" within the meaning of Rule 144 adopted under the Securities Act of 1933. In general, under Rule 144 a person (or persons whose shares are aggregated) is entitled to sell restricted shares if at least one year has passed since the time such shares were acquired from Gold Entertainment or any of its affiliates. Rule 144 provides, however, that within any three-month period such person may only sell up to the greater of: (i) 1% of the then outstanding shares of common stock; or (ii) the average weekly trading volume in the common stock during the four calendar weeks immediately preceding the date on which notice of the sale is filed with the Securities and Exchange Commission. Sales under Rule 144 are also subject to certain manner-of-sale provisions and notice requirements and to the availability of current public information about Gold Entertainment. All shares held by persons who are deemed to be affiliates of Gold Entertainment are subject to the volume limitations and other requirements of Rule 144 regardless of how long the shares have been owned or how they were acquired. Restricted shares held by non-affiliates of Gold Entertainment for more than two years may be sold without limitation under Rule 144.

    Sales of substantial amounts of common stock in the future, or the perception that such sales could occur, could adversely affect prevailing market prices of the common stock and could impair our ability to raise capital through an offering of equity securities.

    Transfer Agent

    Island Stock Transfer is our transfer agent. Their offices are located at 15500 Roosevelt Blvd, Suite 301, Clearwater, FL 33760. Their telephone number is 727-289-0010.

    ITEM 12: INDEMNIFICATION OF DIRECTORS AND OFFICERS

    Our Articles of Incorporation provide that no officer or director shall be personally liable to the corporation or its shareholders for money damages except as provided pursuant to the Florida Revised Statutes. Our Bylaws provide that we will indemnify and hold harmless, to the full extent allowed by the laws of the State of Florida, each person who was, or is threatened to be made a party to, or is otherwise involved in any threatened proceedings by reason of the fact that he or she is or was a director or officer of Gold Entertainment or is or was serving at the request of Gold Entertainment as a director, officer, partner, trustee, employee, or agent of another entity, against all losses, claims, damages, liabilities and expenses actually and reasonably incurred or suffered in connection with such proceedings.

    ITEM 13: FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

    The Financial Statements of Gold Entertainment Group, Inc. for the years ended January 31, 2016 and 2015 and for the period ending October 31, 2016 appearing at the end of this registration statement.

     ITEM 14: CHANGES IN AND DISAGREEMENS WITH INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM ON ACCOUNTING AND FINANCIAL DISCLOSURE

    There are currently no disagreements with the independent registered public accounting firm regarding accounting and financial disclosure.

    ITEM 15: FINANCIAL STATEMENTS AND EXHIBITS

    Financial Statements

    The Financial Statements of Gold Entertainment Group, Inc. for the years ended January 31, 2016 and 2015 and for the three quarters
    ending October 31, 2016 appearing at the end of this registration statement.

    Exhibits

    See the Exhibit Index beginning following the signature page.


    15


    SIGNATURES

     

    In accordance with Section 12 of the Securities Exchange Act of 1934, the registrant caused this registration statement
    to be signed on its behalf by the undersigned thereunto duly authorized.

     

     

      GOLD ENTERTAINMENT GROUP, INC.

     

     

     

     

     

    Date:

     

    December 29, 2016

     

     

     

    By: 

     

    /s/ Hamon F. Fytton

     

     

     

     

     

     

     

     

    Hamon F. Fytton,

    Chief Executive Officer, and President

     

    Exhibit Index

     

    Copies of the following documents are included as exhibits to this registration statement.

     

    Exhibit

     

    Title of Document

    No.

     

     

     

     

     

    3.1

     

    Articles of Incorporation

     

     

     

    3.2

     

    Amendment to Articles of Incorporation

     

     

     

    3.3

     

    Bylaws

     

     

     

    10.1

     

    Note Settlement and Release

     

     

     

    10.2

     

    Management Consulting Agreement - Schiemann




    10.3

     

    Management Consulting Agreement - Fytton


     


    16

     
     
    GOLD ENTERTAINMENT GROUP, INC.
     
    FINANCIAL STATEMENTS
     
     
    C O N T E N T S