Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Jun. 30, 2021 | Aug. 03, 2021 | |
Document and Entity Information: | ||
Document Type | 10-Q | |
Entity Central Index Key | 0000894501 | |
Document Period End Date | Jun. 30, 2021 | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Year Focus | 2021 | |
Document Fiscal Period Focus | Q2 | |
Amendment Flag | false | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Entity File Number | 000-51074 | |
Entity Registrant Name | GOLD ROCK HOLDINGS, INC. | |
Entity Incorporation, State or Country Code | NV | |
Entity Tax Identification Number | 87-0434297 | |
Entity Address, Address Line One | 2020 General Booth Blvd | |
Entity Address, Address Line Two | Suite 230 | |
Entity Address, City or Town | Virginia Beach | |
Entity Address, State or Province | VA | |
Entity Address, Postal Zip Code | 23454 | |
City Area Code | 757 | |
Local Phone Number | 306-6090 | |
Entity Current Reporting Status | No | |
Entity Interactive Data Current | No | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 47,227,500 |
CONDENSED BALANCE SHEETS - UNAU
CONDENSED BALANCE SHEETS - UNAUDITED - USD ($) | Jun. 30, 2021 | Dec. 31, 2020 |
Current Assets | ||
Cash | $ 1,700 | $ 1,700 |
Prepaid expenses | 100 | |
Total Current Assets | 1,700 | 1,800 |
Total Assets | 1,700 | 1,800 |
Current liabilities | ||
Accounts Payable and Accrued Expenses | 6,954 | 14,000 |
Accrued Board of Director Compensation | 4,000 | 90,000 |
Total Current Liabilities | 10,954 | 104,000 |
Total Liabilities | 10,954 | 104,000 |
Stockholders' Deficit | ||
Common Stock - $0.001 Par; 850,000,000 Shares Authorized, 87,227,500 and 47,227,500 Issued and Outstanding, Respectively | 87,227 | 47,227 |
Additional Paid-In-Capital | 71,923 | (41,927) |
Accumulated Deficit | (168,404) | (107,500) |
Total Stockholders' Deficit | (9,254) | (102,200) |
Total Liabilities and Stockholders' Deficit | $ 1,700 | $ 1,800 |
CONDENSED BALANCE SHEETS - UN_2
CONDENSED BALANCE SHEETS - UNAUDITED (Parenthetical) - $ / shares | Jun. 30, 2021 | Dec. 31, 2020 |
Statement of Financial Position [Abstract] | ||
Common Stock, Par Value | $ 0.001 | $ 0.001 |
Common Stock, Shares Authorized | 850,000,000 | 850,000,000 |
Common Stock, Shares Issued | 87,227,500 | 47,227,500 |
Common Stock, Shares Outstanding | 87,227,500 | 47,227,500 |
CONDENSED STATEMENTS OF OPERATI
CONDENSED STATEMENTS OF OPERATIONS - UNAUDITED - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Income Statement [Abstract] | ||||
Sales | ||||
Cost of Sales | ||||
Gross Profit | ||||
Operating Expenses | ||||
Board of Director Compensation | 30,000 | 30,000 | ||
Consulting | 3,000 | 3,000 | 6,000 | 6,000 |
General and administrative | 24,604 | 300 | 24,904 | 600 |
Total Expenses | 27,604 | 3,300 | 60,904 | 36,600 |
Net Loss for the Period | $ (27,604) | $ (3,300) | $ (60,904) | $ (36,600) |
Weighted Average Number of Common Shares - Basic and Diluted | 87,227,500 | 47,227,500 | 68,884,959 | 47,227,500 |
Net Loss for the Period Per Common Shares -Basic and Diluted | $ 0 | $ 0 | $ 0 | $ 0 |
CONDENSED STATEMENTS OF CASH FL
CONDENSED STATEMENTS OF CASH FLOWS - UNAUDITED - USD ($) | 6 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | |
Cash Flows from Operating Activities | ||
Net Loss for the Period | $ (60,904) | $ (36,600) |
Non-Cash Adjustments: | ||
Common Shares Issued for Consulting | 3,000 | |
Common Shares Issued for Consulting | 29,000 | |
Changes in Assets and Liabilities: | ||
Prepaid expenses | 100 | |
Accounts Payable and Accrued Expenses | 6,954 | 5,600 |
Accrued Board of Directors Compensation | 4,000 | 30,000 |
Net Cash Flows Used In Operating Activities | (17,850) | (1,000) |
Cash Flows from Investing Activities | ||
Cash Flows from Financing Activities | ||
Capital Contributions from Directors | 17,850 | 1,000 |
Net Cash Flows Provided by Financing Activities | 17,850 | 1,000 |
Net Change in Cash | ||
Cash - Beginning of Period | 1,700 | 1,700 |
Cash - End of Period | 1,700 | 1,700 |
Cash Paid During the Period for: | ||
Interest | ||
Income Taxes |
CONDENSED STATEMENTS OF CHANGES
CONDENSED STATEMENTS OF CHANGES IN STOCKHOLDERS' DEFICIT - UNAUDITED - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | Accumulated Deficit [Member] | Total |
Balance at Dec. 31, 2019 | $ 47,227 | $ (44,427) | $ (63,400) | $ (60,600) |
Balance, shares at Dec. 31, 2019 | 47,227,500 | |||
Capital Contributions - Director | 1,000 | 1,000 | ||
Net Loss for the Period | (36,600) | (36,600) | ||
Balance at Jun. 30, 2020 | $ 47,227 | (43,427) | (100,000) | (96,200) |
Balance, shares at Jun. 30, 2020 | 47,227,500 | |||
Balance at Mar. 31, 2020 | $ 47,227 | (43,727) | (96,700) | (93,200) |
Balance, shares at Mar. 31, 2020 | 47,227,500 | |||
Capital Contributions - Director | 300 | 300 | ||
Net Loss for the Period | (3,300) | (3,300) | ||
Balance at Jun. 30, 2020 | $ 47,227 | (43,427) | (100,000) | (96,200) |
Balance, shares at Jun. 30, 2020 | 47,227,500 | |||
Balance at Dec. 31, 2020 | $ 47,227 | (41,927) | (107,500) | (102,200) |
Balance, shares at Dec. 31, 2020 | 47,227,500 | |||
Common Stock Issued for Accrued Expenses & Directors Fees | $ 30,588 | 73,412 | 104,000 | |
Common Stock Issued for Accrued Expenses & Directors Fees, shares | 30,588,235 | |||
Common Stock Issued for Consulting and Director Compensation | $ 9,412 | 22,588 | 32,000 | |
Common Stock Issued for Consulting and Director Compensation, shares | 9,411,765 | |||
Capital Contributions - Director | 17,850 | 17,850 | ||
Net Loss for the Period | (60,904) | (60,904) | ||
Balance at Jun. 30, 2021 | $ 87,227 | 71,923 | (168,404) | (9,254) |
Balance, shares at Jun. 30, 2021 | 87,227,500 | |||
Balance at Mar. 31, 2021 | $ 87,227 | 54,173 | (140,800) | 600 |
Balance, shares at Mar. 31, 2021 | 87,227,500 | |||
Capital Contributions - Director | 17,750 | 17,750 | ||
Net Loss for the Period | (27,604) | (27,604) | ||
Balance at Jun. 30, 2021 | $ 87,227 | $ 71,923 | $ (168,404) | $ (9,254) |
Balance, shares at Jun. 30, 2021 | 87,227,500 |
Organization & Description of B
Organization & Description of Business | 6 Months Ended |
Jun. 30, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Organization & Description of Business | NOTE 1 – Organization & Description of Business The Company was incorporated in the State of Nevada in February 1997 as Affordable Homes of America. In March 1999 we merged into Kowtow, Inc. and changed our name to Affordable Homes of America, Inc. On October 12, 2000 we changed our name to World Homes, Inc. and on August 23, 2001 we changed our name to Composite Industries of America, Inc. On September 02, 2004, the Company changed its name to Gold Rock Holdings, Inc. On January 08, 2009 the Company did a name change to The Affordable Homes Group, Inc. On March 01, 2011 the Company changed its name to Global Green Group, Inc. And, On January 09, 2015, the Company changed its name back to Gold Rock Holdings, Inc., the current name of the Company. In 2019, Gold Rock Holdings, Inc. established itself as a provider of engineering and construction management services producing site-plans, construction drawings, cost computations, fiber network designs, and other related construction services. These services assist underground construction companies in laying high-speed fiber-optics and underground cable in areas of the U.S. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2021 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | NOTE 2 – Summary of Significant Accounting Policies Basis of Presentation The accompanying condensed balance sheet at December 31, 2020, has been derived from audited financial statements and the accompanying unaudited condensed interim financial statements as of June 30, 2021 and 2020, have been prepared in accordance with generally accepted accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 8 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements and should be read in conjunction with the audited financial statements and related footnotes included in our Annual report on Form 10-K for the year ended December 31, 2020 (the “2020 Annual Report”), filed with the Securities and Exchange Commission (the “SEC”). It is management’s opinion, however, that all material adjustments (consisting of normal recurring adjustments), have been made which are necessary for a fair financial statement presentation. Operating results for the three and six months ended June 30, 2021, are not necessarily indicative of the results of operations expected for the year ending December 31, 2021. Method of Accounting The Company’s condensed financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”). Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Cash and Cash Equivalents Cash and cash equivalents may include time deposits, certificates of deposit, and all highly liquid debt instruments with original maturities of three months or less. The Company maintains cash and cash equivalents at financial institutions located in the United States, which periodically may exceed federally insured amounts. Earnings (Loss) per Share Earnings (loss) per share of common stock are computed in accordance with FASB ASC 260 “Earnings per Share”. Basic earnings (loss) per share are computed by dividing income or loss available to common shareholders by the weighted-average number of common shares outstanding for each period. Diluted earnings per share are calculated by adjusting the weighted average number of shares outstanding assuming conversion of all potentially dilutive stock options, warrants and convertible securities, if dilutive. Common stock equivalents that are anti-dilutive are excluded from both diluted weighted average number of common shares outstanding and diluted earnings (loss) per share. -8- GOLD ROCK HOLDINGS, INC. NOTES TO CONDENSED FINANCIAL STATEMENTS - UNAUDITED NOTE 2 – Summary of Significant Accounting Policies - continued Stock-Based Compensation We account for employee and non-employee stock-based compensation in accordance with the guidance of FASB ASC Topic 718, Compensation—Stock Compensation, Fair Value of Financial Instruments The estimated fair values for financial instruments are determined at discrete points in time based on relevant market information. These estimates involve uncertainties and cannot be determined with precision. The carrying amounts of accounts payable and accrued liabilities approximate fair value given their short-term nature or effective interest rates. Revenue Recognition The Company implemented ASC 606, Revenue from Contracts with Customers The Company recognizes revenue and cost of goods sold from product sales or services rendered when control of the promised goods are transferred to our clients in an amount that reflects the consideration to which we expect to be entitled in exchange for those goods and services. To achieve this core principle, we apply the following five steps: identify the contract with the client, identify the performance obligations in the contract, determine the transaction price, allocate the transaction price to performance obligations in the contract and recognize revenues when or as the Company satisfies a performance obligation. |
Recently Issued Accounting Stan
Recently Issued Accounting Standards | 6 Months Ended |
Jun. 30, 2021 | |
Recently Issued Accounting Standards | |
Recently Issued Accounting Standards | NOTE 3 – Recently Issued Accounting Standards The Company has implemented all new accounting pronouncements that are in effect and is evaluating any that may impact its financial statements, including the new lease standard. The Company does not have any leases and does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations. |
Going Concern
Going Concern | 6 Months Ended |
Jun. 30, 2021 | |
Going Concern [Abstract] | |
Going Concern | NOTE 4 – Going Concern The Company’s condensed financial statements have been presented on the basis that it is a going concern, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The Company has reported recurring losses from operations and has net current liabilities and an accumulated deficit. These conditions raise substantial doubt as to the Company’s ability to continue as a going concern. While the Company is attempting to continue operations and generate revenues, the Company’s cash position may not be significant enough to support the Company’s daily operations. Management believes that the actions presently being taken to further implement the Company’s business plan; to expand sales with a dynamic marketing campaign and generate revenues provide the opportunity for the Company to continue as a going concern. While the Company believes in the viability of its strategy to generate revenues and in its ability to raise additional funds, there can be no assurances to that effect. The ability of the Company to continue as a going concern is dependent upon the Company’s ability to further implement its business plan and generate revenues. During the three and six months ended June 30, 2021, due to lack of revenues the officers of the Company paid for all expenses through loans to the Company. This allowed the Company to continue as a going concern. |
Related Party Transactions
Related Party Transactions | 6 Months Ended |
Jun. 30, 2021 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | NOTE 5 – Related Party Transactions During the six months ended June 30, 2021 and 2020, the sole board of director paid all expenses of the Company in the amount of $17,850 and $1,000, respectively. The amount paid during the six months ended June 30, 2021 and 2020 was not to be reimbursed therefore, additional paid in capital was increased by $17,850 and $1,000, respectively for the periods then ended. |
Stock
Stock | 6 Months Ended |
Jun. 30, 2021 | |
Stockholders' Equity Note [Abstract] | |
Stock | NOTE 6 – Stock Preferred Stock Preferred stock consists of 50,000,000 shares authorized at $0.001 par value. Preferred stock are blank check and have no conversion, dividend or voting rights. At June 30, 2021 and December 31, 2020 there were -0- preferred shares issued and outstanding. Common Stock Common stock consists of 850,000,000 shares authorized at $0.001 par value. At June 30, 2021 and December 31, 2020 there were 87,227,500 and 47,227,500 shares issued and outstanding, respectively. During the six months ended June 30, 2021, the Company issued 30,588,235 shares to pay $90,000 of accrued board of director compensation and accrued consulting of $14,000 that was included on the balance sheet at December 31, 2020. The shares value was based on the market price of the Company’s common stock of $0.0034 on the measurement date. During the six months ended June 30, 2021, the Company issued 9,411,765 shares to pay $32,000 of board of director compensation and consulting services of $3,000 that was included in the statement of operations at June 30, 2021. The shares value was based on the market price of the Company’s common stock of $0.0034 on the measurement date. |
Risks and Uncertainties
Risks and Uncertainties | 6 Months Ended |
Jun. 30, 2021 | |
Risks and Uncertainties [Abstract] | |
Risks and Uncertainties | NOTE 7 – Risks and Uncertainties Coronavirus Impact (COVID-19) Due to the recent outbreak of the coronavirus reported in many countries worldwide, local and federal governments have issued travel advisories, canceled large scale public events and closed schools. In addition, companies have begun to cancel conferences and travel plans and require employees to work from home. Global financial markets have also experienced extreme volatility and disruptions to capital and credit markets. We are unable to predict the impact of the coronavirus on our operations at this time. Adverse events such as health-related concerns about working in our offices, the inability to travel, potential impact on our business partners and customers, and other matters affecting the general work and business environment could harm our business and delay the implementation of our business strategy. The adverse events may also adversely impact our ability to raise capital or to continue as a going concern. We continue to monitor the recent outbreak of the coronavirus on our operations. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2021 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation The accompanying condensed balance sheet at December 31, 2020, has been derived from audited financial statements and the accompanying unaudited condensed interim financial statements as of June 30, 2021 and 2020, have been prepared in accordance with generally accepted accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 8 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements and should be read in conjunction with the audited financial statements and related footnotes included in our Annual report on Form 10-K for the year ended December 31, 2020 (the “2020 Annual Report”), filed with the Securities and Exchange Commission (the “SEC”). It is management’s opinion, however, that all material adjustments (consisting of normal recurring adjustments), have been made which are necessary for a fair financial statement presentation. Operating results for the three and six months ended June 30, 2021, are not necessarily indicative of the results of operations expected for the year ending December 31, 2021. |
Method of Accounting | Method of Accounting The Company’s condensed financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”). |
Use of Estimates | Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. |
Cash and Cash Equivalents | Cash and Cash Equivalents Cash and cash equivalents may include time deposits, certificates of deposit, and all highly liquid debt instruments with original maturities of three months or less. The Company maintains cash and cash equivalents at financial institutions located in the United States, which periodically may exceed federally insured amounts. |
Earnings (Loss) per Share | Earnings (Loss) per Share Earnings (loss) per share of common stock are computed in accordance with FASB ASC 260 “Earnings per Share”. Basic earnings (loss) per share are computed by dividing income or loss available to common shareholders by the weighted-average number of common shares outstanding for each period. Diluted earnings per share are calculated by adjusting the weighted average number of shares outstanding assuming conversion of all potentially dilutive stock options, warrants and convertible securities, if dilutive. Common stock equivalents that are anti-dilutive are excluded from both diluted weighted average number of common shares outstanding and diluted earnings (loss) per share. |
Stock-based Compensation | Stock-Based Compensation We account for employee and non-employee stock-based compensation in accordance with the guidance of FASB ASC Topic 718, Compensation—Stock Compensation, |
Fair Value of Financial Instruments | Fair Value of Financial Instruments The estimated fair values for financial instruments are determined at discrete points in time based on relevant market information. These estimates involve uncertainties and cannot be determined with precision. The carrying amounts of accounts payable and accrued liabilities approximate fair value given their short-term nature or effective interest rates. |
Revenue Recognition | Revenue Recognition The Company implemented ASC 606, Revenue from Contracts with Customers The Company recognizes revenue and cost of goods sold from product sales or services rendered when control of the promised goods are transferred to our clients in an amount that reflects the consideration to which we expect to be entitled in exchange for those goods and services. To achieve this core principle, we apply the following five steps: identify the contract with the client, identify the performance obligations in the contract, determine the transaction price, allocate the transaction price to performance obligations in the contract and recognize revenues when or as the Company satisfies a performance obligation. |
Related Party Transactions (Det
Related Party Transactions (Details) - USD ($) | 6 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | |
Related Party Transactions [Abstract] | ||
Related parties amount of transaction paid by sole board of director | $ 17,850 | $ 1,000 |
Increase in additional paid in capital | $ 17,850 | $ 1,000 |
Stock (Details)
Stock (Details) - USD ($) | 6 Months Ended | |
Jun. 30, 2021 | Dec. 31, 2020 | |
Preferred Stock, Par Value | $ 0.001 | |
Preferred Stock, Shares Authorized | 50,000,000 | |
Preferred Stock, Shares Issued | 0 | 0 |
Preferred Stock, Shares Outstanding | 0 | 0 |
Common Stock, Par Value | $ 0.001 | $ 0.001 |
Common Stock, Shares Authorized | 850,000,000 | 850,000,000 |
Common Stock, Shares Issued | 87,227,500 | 47,227,500 |
Common Stock, Shares Outstanding | 87,227,500 | 47,227,500 |
For accrued board of director compensation [Member] | ||
Shares issued | 30,588,235 | |
Shares issued, value | $ 90,000 | |
Shares issued, price per share | $ 0.0034 | |
Accrued consulting | $ 14,000 | |
Shares issued for services | 9,411,765 | |
Shares issued for services, value | $ 32,000 | |
Transaction price for services | $ 0.0034 | |
Consulting services | $ 3,000 |