UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
Form 10-Q
 
☒
           Quarterly report pursuant Section 13 or 15(d) of the Securities Exchange Act of 1934
 
For the quarterly period ended September 30, 2023
OR
 
☐
           Transition report pursuant Section 13 or 15(d) of the Securities Exchange Act of 1934
 
For the transition period from _______ to _______.
Commission file number 000-49819
 
GLOBAL ARENA HOLDING, INC.
(Exact name of registrant as specified in its charter)
 
Delaware
(State or other jurisdiction of incorporation or organization)
33-0931599
(I.R.S. Employer Identification No.)
 
 
208 East 51 Street, Suite 112
New York, New York
(Address of principal executive offices)
 
10022
(Zip code)
 
(646) 801-5524
 (Registrant’s
 telephone number, including area code)
 
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes 
☒
   No 
☐
 
Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes 
☒
   No 
☐
 
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 
☐
Non-accelerated filer 
☐
Accelerated filer 
☐
Smaller reporting company 
☒
 
Emerging growth company 
☐
 
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).
Yes
☐
   No
☒
 
As of January 5, 2024, the registrant had 1,221,223,807 outstanding shares of common stock.
 
 
 
 
GLOBAL ARENA HOLDING, INC. TABLE OF CONTENTS
 
 
 
 
 
Item 1.  Financial Statements (Unaudited)
 
3
   
 
4
   
 
5
   
 
6
   
 
8
   
 
9
   
 
28
 
32
 
32
 
 
 
34
 
34
 
35
 
35
 
35
 
35
 
35
 
 
 
 
36
 
2
 
PART I - FINANCIAL INFORMATION
 
This Quarterly Report includes forward-looking statements within the meaning of the Securities Exchange Act of 1934. These statements are based on management’s beliefs and assumptions, and on information currently available to management. Forward-looking statements include the information concerning our possible or assumed future results of operations set forth under the heading “Management’s Discussion and Analysis of Financial Condition and Results of Operations.”  Forward-looking statements also include statements in which words such as “expect,” “anticipate,” “intend,” “plan,” “believe,” “estimate,” “consider,” or similar expressions are used.
 
Forward-looking statements are not guarantees of future performance.  They involve risks, uncertainties, and assumptions. Our future results and shareholder values may differ materially from those expressed in these forward-looking statements. Readers are cautioned not to put undue reliance on any forward-looking statements.
 
3
 
GLOBAL ARENA HOLDING, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
 
  
September 30,
  
December 31,
 
  
2023
  
2022
 
 
 
(unaudited)
 
ASSETS
      
Current Assets:
      
Cash and cash equivalents
 
$
14,618
  
$
149,714
 
Prepaid Expense
  
750
   
3,000
 
Total current assets
 
$
15,368
  
$
152,714
 
 
        
Deposits for proposed acquisitions
  
566,150
   
566,150
 
TOTAL ASSETS
 
$
581,518
  
$
718,864
 
         
LIABILITIES AND STOCKHOLDERS' DEFICIT
        
Current Liabilities:
        
Accounts payable
 
$
343,373
  
$
327,372
 
Due to related party
  
6,700
   
-
 
Accrued expenses
  
4,468,431
   
4,111,361
 
Convertible promissory notes payable,
        
net of debt discount of $60,307 and $176,378
  
4,343,897
   
4,418,233
 
Promissory notes payable
  
390,349
   
392,196
 
Derivative liability
  
4,506
   
116,150
 
Total current liabilities
  
9,557,256
   
9,365,312
 
 
        
STOCKHOLDERS' DEFICIT
        
Global Arena Holdings, Inc.
        
Preferred stock, $0.001 par value; 2,000,000 shares
authorized;
        
Series B preferred stock; 250,000 shares authorized
        
49,202 and
49,202
issued and outstanding
  
49
   
49
 
Series C preferred stock; 750,000 shares authorized
        
480,000 and 480,000
issued and outstanding
  
480
   
480
 
Common stock, $0.001 par value; 4,000,000,000 shares authorized;
        
802,558,604 and 270,777,969 shares issued and outstanding
  
802,558
   
270,778
 
Additional paid-in capital
  
22,544,765
   
22,411,335
 
Accumulated deficit
  
(32,300,548
)
  
(31,306,048
)
Total Global Arena Holdings, Inc. stockholders’ deficit
  
(8,952,696
)
  
(8,623,406
)
Noncontrolling interest
  
(23,042
)
  
(23,042
)
Total stockholders’ deficit
  
(8,975,738
)
  
(8,646,448
)
TOTAL LIABILITIES AND STOCKHOLDERS'
DEFICIT
 
$
581,518
  
$
718,864
 
 
The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.
 
4
 
 
GLOBAL ARENA HOLDING, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(unaudited)
 
  
Three Months Ended September 30,
  
Nine Months Ended September 30,
 
  
2023
  
2022
  
2023
  
2022
 
             
Revenues:
            
Services
 
$
268,304
  
$
162,067
  
$
612,468
  
$
559,911
 
                 
Operating expenses:
                
Salaries and benefits
  
47,015
   
244,864
   
281,825
   
587,335
 
Marketing and advertising
  
27,576
   
33,637
   
90,455
   
98,927
 
Software development
  
9,270
   
1,325
   
18,839
   
33,419
 
Professional fees
  
134,333
   
59,252
   
333,739
   
243,776
 
General and administrative
  
43,564
   
43,143
   
142,274
   
174,967
 
Printing
  
85,086
   
33,275
   
121,223
   
131,951
 
Total operating expenses
  
346,844
   
415,496
   
988,355
   
1,270,375
 
                 
Loss from operations
  
(78,540
)
  
(253,429
)
  
(375,887
)
  
(710,464
)
                 
Other expenses:
                
Interest expense and financing costs
  
(230,552
)
  
(174,216
)
  
(727,632
)
  
(587,469
)
Debt Forgiveness
      
140,000
   
(2,623
)
  
140,000
 
Change in fair value of derivative liability
  
139,634
   
71,260
   
111,642
   
71,306
 
Total other expenses
  
(90,918
)
  
37,044
   
(618,613
)
  
(376,163
)
                 
Income (loss) before provision for taxes
  
(169,458
)
  
(216,385
)
  
(994,500
)
  
(1,086,627
)
                 
Provision for income taxes
  
-
   
-
   
-
   
-
 
                 
Net loss
  
(169,458
)
  
(216,385
)
  
(994,500
)
  
(1,086,627
)
                 
Net loss attributed to noncontrolling interest
  
-
   
-
   
-
   
-
 
                 
Net loss attributed to Global Arena Holding, Inc.
 
$
(169,458
)
 
$
(216,385
)
 
$
(994,500
)
 
$
(1,086,627
)
                 
Weighted average shares outstanding - basic and diluted
  
701,035,141
   
188,450,167
   
503,477,046
   
188,450,167
 
                 
Loss per share - basic and diluted
 
$
(0.00
)
 
$
(0.00
)
 
$
(0.00
)
 
$
(0.00
)
 
The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.
 
5
 
 
GLOBAL ARENA HOLDING, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ DEFICIT
 
 
 
Series B Preferred
Stock
 
 
Series C Preferred
Stock
 
 
Common Stock
 
 
Additional
Paid-in
 
 
Accumulated
 
 
Total
Global
Stockholders'
 
 
 
Noncontrolling
 
 
Total
Stockholders’
 
 
 
Shares
 
 
Amount
 
 
Shares
 
 
Amount
 
 
Shares
 
 
Amount
 
 
Capital
 
 
Deficit
 
 
Deficit
 
 
Interest
 
 
Deficit
 
Balance, December 31, 2022
 
 
49,202
 
 
$
49
 
 
 
480,000
 
 
$
480
 
 
 
270,777,969
 
 
$
270,778
 
 
$
22,411,335
 
 
$
(31,306,048
)
 
$
(8,623,406
)
 
$
(23,042
)
 
$
(8,646,448
)
Issuance of common stock for convertible debt and accrued interest
 
 
- 
 
 
 
- 
 
 
 
- 
 
 
 
- 
 
 
 
67,081,217
 
 
 
67,081
 
 
 
29,363
 
 
 
-
 
 
 
96,444
 
 
 
 
 
 
 
96,444
 
Conversion of warrants
 
 
- 
 
 
 
- 
 
 
 
- 
 
 
 
- 
 
 
 
23,603,891
 
 
 
23,604
 
 
 
(23,604
)
 
 
-
 
 
 
-
 
 
 
-
 
 
 
-
 
Allocated value of warrants and beneficial conversion 
 
 
- 
 
 
 
- 
 
 
 
- 
 
 
 
- 
 
 
 
-
 
 
 
-
 
 
 
22,396
 
 
 
-
 
 
 
22,396
 
 
 
 
 
 
 
22,396
 
Net loss
 
 
- 
 
 
 
- 
 
 
 
- 
 
 
 
- 
 
 
 
- 
 
 
 
- 
 
 
 
- 
 
 
 
(526,395
)
 
 
(526,395
)
 
 
-
 
 
 
(526,395
)
Balance, March  31, 2023
 
 
49,202
 
 
$
49
 
 
 
480,000
 
 
$
480
 
 
 
361,463,077
 
 
$
361,463
 
 
$
22,439,490
 
 
$
(31,832,443
)
 
$
(9,030,961
)
 
$
(23,042
)
 
$
(9,054,003
)
Issuance of common stock for convertible debt and accrued interest
 
 
- 
 
 
 
- 
 
 
 
- 
 
 
 
- 
 
 
 
175,172,728
 
 
 
175,172
 
 
 
(6,013
)
 
 
- 
 
 
 
169,159
 
 
 
-
 
 
 
169,159
 
Issuance of shares for services
 
 
- 
 
 
 
- 
 
 
 
- 
 
 
 
 
 
 
 
59,322,799
 
 
 
59,323
 
 
 
18,614
 
 
 
- 
 
 
 
77,937
 
 
 
-
 
 
 
77,937
 
Warrants issued for services 
 
 
- 
 
 
 
- 
 
 
 
- 
 
 
 
- 
 
 
 
- 
 
 
 
- 
 
 
 
12,499
 
 
 
- 
 
 
 
12,499
 
 
 
-
 
 
 
12,499
 
Forgiveness of accrued compensation – related party 
 
 
- 
 
 
 
- 
 
 
 
- 
 
 
 
- 
 
 
 
- 
 
 
 
- 
 
 
 
80,175
 
 
 
- 
 
 
 
80,175
 
 
 
 
 
 
 
80,175
 
Net loss
 
 
- 
 
 
 
- 
 
 
 
- 
 
 
 
- 
 
 
 
- 
 
 
 
- 
 
 
 
- 
 
 
 
(298,647
)
 
 
(298,647
)
 
 
 
 
 
 
(298,647
)
Balance, June 30, 2023
 
 
49,202
 
 
$
49
 
 
 
480,000
 
 
$
480
 
 
 
595,958,604
 
 
$
595,958
 
 
$
22,544,765
 
 
$
(32,131,090
)
 
$
(8,989,838
)
 
$
(23,042
)
 
$
(9,012,880
)
Issuance of common stock for convertible debt and accrued interest
  
-
   
-
   
-
   
-
   
206,600,000
   
206,600
   
-
       
206,600
   
-
   
206,600
 
Net loss
  
-
   
-
   
-
   
-
   
-
   
-
   
-
   
(169,458
)
  
(169,458
)
  
-
   
(169,458
)
Balance, September 30, 2023
  
49,202
  
$
49
  
$
480,000
  
$
480
  
$
802,558,604
  
$
802,558
  
$
22,544,765
  
$
(32,300,548
)
 
$
(8,952,696
)
 
$
(23,042
)
 
$
(8,975,738
)
 
6
 
 
GLOBAL ARENA HOLDING, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ DEFICIT (continued)
 
 
 
Series B Preferred Stock
 
 
Series C Preferred Stock
 
 
Common Stock
 
 
Additional
Paid-in
 
 
Accumulated
 
 
Total
Global
Stockholders'
 
 
 
Noncontrolling
 
 
Total
Stockholders’
 
 
 
Shares
 
 
Amount
 
 
Shares
 
 
Amount
 
 
Shares
 
 
Amount
 
 
Capital
 
 
Deficit
 
 
Deficit
 
 
Interest
 
 
Deficit
 
Balance, December 31, 2021
 
 
49,202
 
 
$
49
 
 
 
-
 
 
$
-
 
 
 
170,375,180
 
 
$
170,375
 
 
$
21,825,642
 
 
$
(29,594,851
)
 
$
(7,598,785
)
 
$
(23,042
)
 
$
(7,621,827
)
Issuance of common stock for convertible debt and accrued interest
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
3,875,435
 
 
 
3,875
 
 
 
54,257
 
 
 
-
 
 
 
58,132
 
 
 
 
 
 
 
58,132
 
Issuance of common stock for debt settlement
 
 
-
 
 
 
-
 
 
 
-
 
 
 
-
 
 
 
-
 
 
 
-
 
 
 
-
 
 
 
-
 
 
 
-
 
 
 
-
 
 
 
-
 
Allocated value of warrants and beneficial conversion feature
related to issuance of convertible debt
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
-
 
 
 
-
 
 
 
96,352
 
 
 
-
 
 
 
96,352
 
 
 
 
 
 
 
96,352
 
Net loss
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(423,313
)
 
 
(423,313
)
 
 
-
 
 
 
(423,313
)
Balance, March 31, 2022
 
 
49,202
 
 
$
49
 
 
 
-
 
 
$
-
 
 
 
174,250,615
 
 
$
174,250
 
 
$
21,976,251
 
 
$
(30,018,164
)
 
$
(7,867,614
)
 
$
(23,042
)
 
$
(7,890,656
)
Issuance of common stock for convertible debt and accrued interest
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
18,210,167
 
 
 
18,210
 
 
 
158,312
 
 
 
 
 
 
 
176,522
 
 
 
 
 
 
 
176,522
 
Issuance of shares for debt settlement
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Allocated value of warrants and beneficial conversion feature
related to issuance of convertible debt
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
115,137
 
 
 
 
 
 
 
115,137
 
 
 
 
 
 
 
115,137
 
Net loss
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(446,929
)
 
 
(446,929
)
 
 
 
 
 
 
(446,929
)
Balance, June 30, 2022
 
 
49,202
 
 
$
49
 
 
 
-
 
 
$
-
 
 
 
192,460,782
 
 
$
192,460
 
 
$
22,249,700
 
 
$
(30,465,093
)
 
$
(8,022,884
)
 
$
(23,042
)
 
$
(8,045,926
)
Issuance of common stock for convertible debt and accrued interest
  
-
   
-
   
-
   
-
   
20,829,480
   
20,829
   
65,427
   
-
   
86,256
   
-
   
86,256
 
Shares issues in exchanges for Series C Prefered Shares 
  
-
   
-
   
480,000
   
480
   
-
   
-
   
-
   
-
   
480
   
-
   
480
 
Conversion of warrants
  
-
   
-
   
-
   
-
   
3,281,250
   
3,281
   
(3,281
)
  
-
   
-
   
-
   
-
 
Allocated value of warrants and beneficial conversion feature related to issuance of convertible debt
  
-
   
-
   
-
   
-
   
-
   
-
   
48,118
   
-
   
48,118
   
-
   
48,118
 
Net loss
  
-