Cover
Cover - shares | 9 Months Ended | |
Sep. 30, 2021 | Nov. 19, 2021 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Document Period End Date | Sep. 30, 2021 | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2022 | |
Current Fiscal Year End Date | --12-31 | |
Entity File Number | 0-30695 | |
Entity Registrant Name | ARVANA INC. | |
Entity Central Index Key | 0001113313 | |
Entity Tax Identification Number | 87-0618509 | |
Entity Incorporation, State or Country Code | NV | |
Entity Address, Address Line One | 299 S. Main Street | |
Entity Address, Address Line Two | 13th Floor | |
Entity Address, City or Town | Salt Lake City | |
Entity Address, State or Province | UT | |
Entity Address, Postal Zip Code | 84111 | |
City Area Code | (801) | |
Local Phone Number | 232-7395 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | No | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | true | |
Entity Common Stock, Shares Outstanding | 34,148,518 |
Condensed Interim Balance Sheet
Condensed Interim Balance Sheets (Unaudited) - USD ($) | Sep. 30, 2021 | Dec. 31, 2020 |
Current assets: | ||
Cash | $ 19 | $ 4,994 |
Total assets | 19 | 4,994 |
Current liabilities | ||
Accounts payable and accrued liabilities (Note 5) | 39,176 | 867,710 |
Convertible loan (Note 8) | 0 | 107,800 |
Loans payable to stockholders (Note 3) | 0 | 522,552 |
Loans payable to related party (Note 3) | 200 | 130,677 |
Loans payable (Note 3) | 0 | 74,664 |
Amounts due to related parties (Note 7) | 35,298 | 352,651 |
Total current liabilities | 74,674 | 2,056,054 |
Stockholders' deficiency | ||
Common stock, $0.001 par value 500,000,000 authorized,34,148,518 and 4,610,670 shares issued and outstanding at September 30, 2021 and December 31, 2020, respectively | 34,149 | 4,611 |
Additional paid-in capital | 35,956,574 | 21,290,189 |
Deficit | (36,062,042) | (23,972,524) |
Total Stockholders' deficiency before treasury stock | (71,319) | (2,047,724) |
Less: Treasury stock – 2,085 common shares at September 30, 2021 and December 31, 2020, respectively | (3,336) | (3,336) |
Total stockholders’ deficiency | (74,655) | (2,051,060) |
Total liabilities and stockholders’ deficit | $ 19 | $ 4,994 |
Condensed Interim Balance She_2
Condensed Interim Balance Sheets (Unaudited) (Parenthetical) - $ / shares | Sep. 30, 2021 | Dec. 31, 2020 |
Statement of Financial Position [Abstract] | ||
Common Stock, Par or Stated Value Per Share | $ 0.001 | |
Common Stock, Shares Authorized | 500,000,000 | |
Common Stock, Shares, Outstanding | 34,148,518 | 4,610,670 |
Treasury stock | 2,085 | 2,085 |
Condensed Interim Statements of
Condensed Interim Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Operating expenses | ||||
General and administrative | $ 4,740 | $ 12,224 | $ 11,854 | $ 35,382 |
Professional fees | 42,798 | 5,149 | 64,005 | 23,105 |
Total operating expenses | 47,538 | 17,373 | 75,859 | 58,487 |
Loss from operations | (47,538) | (17,373) | (75,859) | (58,487) |
Interest expense | 0 | (13,318) | (19,122) | (39,441) |
Foreign exchange gain (loss) | 250 | (36,900) | 6,709 | (11,512) |
Other income (Note 9) | 0 | 0 | 458,833 | 0 |
Loss on debt settlements (Note 5) | (12,460,079) | 0 | (12,460,079) | 0 |
Net loss and comprehensive loss | $ (12,507,367) | $ (67,591) | $ (12,089,518) | $ (109,440) |
Per common share information - basic and diluted: | ||||
Weighted average shares outstanding | 27,085,120 | 2,005,070 | 12,103,727 | 1,700,291 |
Net loss per common shares – basic and diluted | $ (0.46) | $ (0.03) | $ (1) | $ (0.06) |
Condensed Interim Statements _2
Condensed Interim Statements of Cash Flows (Unaudited) - USD ($) | 9 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Cash flows from operating activities | ||
Net loss for the period | $ (12,089,518) | $ (109,440) |
Items not involving cash: | ||
Other income | (458,833) | 0 |
Loss on debt settlements | 12,460,079 | 0 |
Interest expense | 19,122 | 39,441 |
Foreign exchange | (12,050) | 11,512 |
Changes in non-cash working capital: | ||
Accounts payable and accrued liabilities | 24,960 | 18,904 |
Amounts due to related parties | 34,940 | 8,148 |
Net cash used in operations | (21,300) | (31,435) |
Cash flows from investing activities | ||
Net cash used in investing activities | 0 | 0 |
Cash flows from financing activities | ||
Proceeds of loans payable | 16,325 | 30,000 |
Net cash provided by financing activities | 16,325 | 30,000 |
Change in cash | (4,975) | (1,435) |
Cash, beginning of period | 4,994 | 2,346 |
Cash, end of period | 19 | 911 |
Supplementary information | ||
Cash paid for interest | 0 | 0 |
Cash paid for income taxes | 0 | 0 |
Debt forgiveness included in amounts due to related parties, accounts payable and accrued liabilities (Note 9) | 458,833 | 0 |
Shares issued for debt settlement (Note 5) | $ 14,065,923 | $ 97,104 |
Statements of Stockholders' Equ
Statements of Stockholders' Equity Deficiency (Unaudited) - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Treasury Stock [Member] | Total |
Beginning balance, value at Dec. 31, 2019 | $ 1,034 | $ 21,283,517 | $ (23,494,928) | $ (3,336) | $ (2,213,713) |
Balance at beginning, shares at Dec. 31, 2019 | 1,034,030 | ||||
Balance at beginning, shares at Dec. 31, 2019 | (2,085) | ||||
Debt settlement | $ 971 | 96,133 | 97,104 | ||
Debt settlement, shares | 971,040 | ||||
Net income | 22,456 | 22,456 | |||
Ending balance, value at Mar. 31, 2020 | $ 2,005 | 21,379,650 | (23,472,472) | $ (3,336) | (2,094,153) |
Balance at ending, shares at Mar. 31, 2020 | 2,005,070 | ||||
Balance at ending, shares at Mar. 31, 2020 | (2,085) | ||||
Net income | (64,305) | (64,305) | |||
Ending balance, value at Jun. 30, 2020 | $ 2,005 | 21,379,650 | (23,536,777) | $ (3,336) | (2,158,458) |
Balance at ending, shares at Jun. 30, 2020 | 2,005,070 | ||||
Balance at ending, shares at Jun. 30, 2020 | (2,085) | ||||
Net income | (67,591) | (67,591) | |||
Ending balance, value at Sep. 30, 2020 | $ 2,005 | 21,379,650 | (23,604,368) | $ (3,336) | (2,226,049) |
Balance at ending, shares at Sep. 30, 2020 | 2,005,070 | ||||
Balance at ending, shares at Sep. 30, 2020 | (2,085) | ||||
Debt settlement | $ 2,606 | 540,539 | 543,145 | ||
Debt settlement, shares | 2,605,600 | ||||
Net income | (368,156) | (368,156) | |||
Ending balance, value at Dec. 31, 2020 | $ 4,611 | 21,920,189 | (23,972,524) | $ (3,336) | (2,051,060) |
Balance at ending, shares at Dec. 31, 2020 | 4,610,670 | ||||
Balance at ending, shares at Dec. 31, 2020 | (2,085) | ||||
Net income | (2,259) | (2,259) | |||
Ending balance, value at Mar. 31, 2021 | $ 4,611 | 21,920,189 | (23,974,783) | $ (3,336) | (2,053,319) |
Balance at ending, shares at Mar. 31, 2021 | 4,610,670 | ||||
Balance at ending, shares at Mar. 31, 2021 | (2,085) | ||||
Net income | 420,108 | 420,108 | |||
Ending balance, value at Jun. 30, 2021 | $ 4,611 | 21,920,189 | (23,554,675) | $ (3,336) | (1,633,211) |
Balance at ending, shares at Jun. 30, 2021 | 4,610,670 | ||||
Balance at ending, shares at Jun. 30, 2021 | (2,085) | ||||
Debt settlement | $ 29,538 | 14,036,385 | 14,065,923 | ||
Debt settlement, shares | 29,537,848 | ||||
Net income | (12,507,367) | (12,507,367) | |||
Ending balance, value at Sep. 30, 2021 | $ 34,149 | $ 35,956,574 | $ (36,062,042) | $ (3,336) | $ (74,655) |
Balance at ending, shares at Sep. 30, 2021 | 34,148,518 | ||||
Balance at ending, shares at Sep. 30, 2021 | (2,085) |
Nature of Business and Ability
Nature of Business and Ability to Continue as a Going Concern | 9 Months Ended |
Sep. 30, 2021 | |
Nature Of Business And Ability To Continue As Going Concern | |
Nature of Business and Ability to Continue as a Going Concern | 1. Nature of Business and Ability to Continue as a Going Concern The Company was incorporated in the State of Nevada on June 16, 1977, as “Turinco, Inc.”, and on July 24, 2006, changed its name to Arvana Inc. to reflect the acquisition of a telecommunications business. We discontinued efforts related to our telecommunications business as of December 31, 2009. The Company is presently focused on evaluating business opportunities for merger or acquisition sufficient to support operations and increase stockholder value. We entered into a non-binding memorandum of understanding on March 17, 2016, with the intent of acquiring a fresh food manufacturer and distributor. On November 11, 2020, we notified the acquisition target that the Company was no longer interested in pursuing the acquisition of its business given the delays attendant to the prospective transaction. On May 21, 2021, the Company entered into a non-binding term sheet with the intention of acquiring a multi-media platform and prospectively other businesses. The term sheet required that the owner of the acquisition target first secure voting control of the Company as pre-condition to his facilitating a transaction. The owner effectively secured voting control on June 30, 2021. On October 26, 2021, the Company entered into a recission agreement and mutual release with the owner of the intended acquisition due to being unable to agree on the structure of the prospective transaction. These condensed interim financial statements have been prepared on a going concern basis, which assumes the realization of assets and the settlement of liabilities in the normal course of business. For the nine-month period ended September 30, 2021, the Company recognized a net loss and realized a working capital deficiency, which deficiency raises substantial doubt about its ability to continue as a going concern. The Company will continue to require financial support from stockholders and creditors until able to generate its own cash flow from operations. Failure to obtain the ongoing support of stockholders and creditors may indicate that the preparation of these financial statements on a going concern basis is inappropriate, in which case the Company’s assets and liabilities would need to be recognized at their liquidation values. The Company’s financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts and liabilities that might arise from this uncertainty. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2021 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | 2. Summary of Significant Accounting Policies a) Basis of presentation The Company is in the process of evaluating business opportunities and has minimal operating expenses. Our fiscal year end is December 31. The accompanying condensed interim financial statements of Arvana Inc. for the three and nine months ended September 30, 2021 and 2020, have been prepared in accordance with accounting principles generally accepted in the United States (“US GAAP”) for financial information with the instructions to Form 10-Q and Regulation S-X. The condensed interim financial statements and notes appearing in this report should be read in conjunction with our audited financial statements and related notes thereto, together with Management’s Discussion and Analysis of Financial Condition and Results of Operations, contained in our Annual Report on Form 10-K for the fiscal year ended December 31, 2020, as filed with the Securities and Exchange Commission (“Commission”) on April 9, 2021. Results are not necessarily indicative of those which may be achieved in future periods. b) Estimates The preparation of financial statements in conformity with US GAAP 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. These estimates include the recognition of deferred tax assets based on the change in unrecognized deductible temporary tax differences. c) Financial instruments The Company uses the following methods and assumptions to estimate the fair value of each class of financial instruments for which it is practicable to estimate such values: Cash - the carrying amount approximates fair value because the amounts consist of cash held at a bank. Accounts payable and accrued liabilities, convertible loan, loans payable and amounts due to related parties - the carrying amount approximates fair value due to the short-term nature of the obligations. The estimated fair values of the Company's financial instruments as of September 30, 2021 and December 31, 2020 are as follows: Estimated fair values September 30, 2021 December 31, 2020 Carrying Amount Fair Value Carrying Amount Fair Value Cash $ 19 $ 19 $4,994 $ 4,994 Accounts payable and accrued liabilities 39,176 39,176 867,710 867,710 Convertible loan — — 107,800 107,800 Loans payable to stockholders Loans payable to related party — — 522,522 522,522 Loans payable to related party — — 130,677 130,677 Loans payable — — 74,664 74,664 Amounts due to related parties 35,498 35,498 352,651 352,651 The following table presents information about the assets that are measured at fair value on a recurring basis as of September 30, 2021, and indicates the fair value hierarchy of the valuation techniques the Company utilized to determine such fair value. In general, fair values determined by Level 1 inputs utilize quoted prices (unadjusted) in active markets for identical assets. Fair values determined by Level 2 inputs utilize data points that are observable such as quoted prices, interest rates and yield curves. Fair values determined by Level 3 inputs are unobservable data points for the asset or liability, and included situations where there is little, if any, market activity for the asset: Fair Value, Assets Measured on Recurring Basis September 30, 2021 Quoted Prices Significant Significant Assets: Cash $ 19 $ 19 $ — $ — The fair value of cash is determined through market, observable and corroborated sources. d) Recent accounting pronouncements New and amended standards adopted by the Company The following new and amended standards were adopted by the Company for the first time in this reporting period. In June 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Updates ASU 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, requiring certain changes to the recognition and measurement as well as disclosure of incurred and expected credit losses. In November 2018, the FASB issued ASU 2018-19 to clarify certain aspects of the new current expected credit losses impairment model in ASU 2016-13. ASU 2018-19 points out that operating lease receivables are within the scope of ASC 842 rather than ASC 326. The standard became effective for the Company beginning January 1, 2020. The adoption of this standard did not have a material impact on the Company’s results of operations, financial condition, cash flows, and financial statement disclosures. In August 2018, the Financial Accounting Standards Board (FASB) issued Accounting Standards Updates ASU 2018-13, which changes the fair value measurement disclosure requirements of ASC 820. The standard became effective for the Company beginning January 1, 2020. The amendments in this ASU are the result of a broader disclosure project called FASB Concepts Statement, Conceptual Framework for Financial Reporting — Chapter 8: Notes to Financial Statements. The adoption of this standard did not have a material impact on the Company’s results of operations, financial condition, cash flows, and financial statement disclosures. |
Loans Payable
Loans Payable | 9 Months Ended |
Sep. 30, 2021 | |
Loans Payable | |
Loans Payable | 3. Loans Payable As of September 30, 2021, the Company had loans outstanding of $nil 0 522,552 200 130,677 0 74,664 6 92,935 0 515,263 0 10,623 16,427 31,356 On March 30, 2020, loans of $ 60,000 37,104 971,040 During the period ended September 30, 2021, the Company extinguished $ 50,000 38,945 On July 23, 2021, loans payable to stockholders of $ 480,960 130,947 361,283 89,124 21,127,123 On July 23, 2021, accounts payable and accrued liabilities of $ 262,056 6,551,392 |
Stock Options
Stock Options | 9 Months Ended |
Sep. 30, 2021 | |
Stock Options | |
Stock Options | 4. Stock Options At September 30, 2021, and December 31, 2020, there were no No |
Common stock
Common stock | 9 Months Ended |
Sep. 30, 2021 | |
Equity [Abstract] | |
Common stock | 5. Common stock During the nine months ended September 30, 2021, the Company issued 29,537,848 14,065,923 662,251 107,800 480,960 130,947 74,762 149,124 During the nine months ended September 30, 2020, the Company issued 971,040 0.10 60,000 37,104 3,576,64 |
Segmented Information
Segmented Information | 9 Months Ended |
Sep. 30, 2021 | |
Segment Reporting [Abstract] | |
Segmented Information | 6. Segmented Information The Company has no reportable segments. |
Related Party Transactions and
Related Party Transactions and Amounts Due to Related Parties | 9 Months Ended |
Sep. 30, 2021 | |
Related Party Transactions [Abstract] | |
Related Party Transactions and Amounts Due to Related Parties | 7. Related Party Transactions and Amounts Due to Related Parties At September 30, 2021, and December 31, 2020, the Company had amounts due to related parties of $ 35,298 352,651 A company controlled by our chief executive officer was owed $ 35,298 3,487 55,461 11,888 A former director was owed $nil 0 60,000 1,500,000 714,300 654,300 A former director and related entities were owed $nil 0 579,088 During the period ended September 30, 2021, $ 220,071 130,947 89,124 436,492 207,857 12,213 During the period ended September 30, 2021, amounts due to the the former director and related entities of $ 369,888 0 206,302 163,586 |
Convertible Loans
Convertible Loans | 9 Months Ended |
Sep. 30, 2021 | |
Convertible Loans | |
Convertible Loans | 8. Convertible Loans On May 18, 2016, the Company issued a convertible promissory note to CaiE that accrued 10 50,000 0.20 March 31, 2021 no 0 1,250 1,250 3,750 0 50,000 On October 12, 2018, the Company issued a convertible note to CaiE that accrued 10 57,800 0.20 March 31, 2021 0 14,450 0 43,350 0 1,445 1,445 4,335 0 57,800 On July 23, 2021, CaiE settled a total of $ 146,712 107,800 38,912 359,333 |
Other Income
Other Income | 9 Months Ended |
Sep. 30, 2021 | |
Other Income | |
Other Income | 9. Other Income During the period ended September 30, 2021, the Company recognized other income in the amount of $ 458,833 206,302 163,586 88,945 |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2021 | |
Accounting Policies [Abstract] | |
Basis of presentation | a) Basis of presentation The Company is in the process of evaluating business opportunities and has minimal operating expenses. Our fiscal year end is December 31. The accompanying condensed interim financial statements of Arvana Inc. for the three and nine months ended September 30, 2021 and 2020, have been prepared in accordance with accounting principles generally accepted in the United States (“US GAAP”) for financial information with the instructions to Form 10-Q and Regulation S-X. The condensed interim financial statements and notes appearing in this report should be read in conjunction with our audited financial statements and related notes thereto, together with Management’s Discussion and Analysis of Financial Condition and Results of Operations, contained in our Annual Report on Form 10-K for the fiscal year ended December 31, 2020, as filed with the Securities and Exchange Commission (“Commission”) on April 9, 2021. Results are not necessarily indicative of those which may be achieved in future periods. |
Estimates | b) Estimates The preparation of financial statements in conformity with US GAAP 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. These estimates include the recognition of deferred tax assets based on the change in unrecognized deductible temporary tax differences. |
Financial instruments | c) Financial instruments The Company uses the following methods and assumptions to estimate the fair value of each class of financial instruments for which it is practicable to estimate such values: Cash - the carrying amount approximates fair value because the amounts consist of cash held at a bank. Accounts payable and accrued liabilities, convertible loan, loans payable and amounts due to related parties - the carrying amount approximates fair value due to the short-term nature of the obligations. The estimated fair values of the Company's financial instruments as of September 30, 2021 and December 31, 2020 are as follows: Estimated fair values September 30, 2021 December 31, 2020 Carrying Amount Fair Value Carrying Amount Fair Value Cash $ 19 $ 19 $4,994 $ 4,994 Accounts payable and accrued liabilities 39,176 39,176 867,710 867,710 Convertible loan — — 107,800 107,800 Loans payable to stockholders Loans payable to related party — — 522,522 522,522 Loans payable to related party — — 130,677 130,677 Loans payable — — 74,664 74,664 Amounts due to related parties 35,498 35,498 352,651 352,651 The following table presents information about the assets that are measured at fair value on a recurring basis as of September 30, 2021, and indicates the fair value hierarchy of the valuation techniques the Company utilized to determine such fair value. In general, fair values determined by Level 1 inputs utilize quoted prices (unadjusted) in active markets for identical assets. Fair values determined by Level 2 inputs utilize data points that are observable such as quoted prices, interest rates and yield curves. Fair values determined by Level 3 inputs are unobservable data points for the asset or liability, and included situations where there is little, if any, market activity for the asset: Fair Value, Assets Measured on Recurring Basis September 30, 2021 Quoted Prices Significant Significant Assets: Cash $ 19 $ 19 $ — $ — The fair value of cash is determined through market, observable and corroborated sources. |
Recent accounting pronouncements | d) Recent accounting pronouncements New and amended standards adopted by the Company The following new and amended standards were adopted by the Company for the first time in this reporting period. In June 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Updates ASU 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, requiring certain changes to the recognition and measurement as well as disclosure of incurred and expected credit losses. In November 2018, the FASB issued ASU 2018-19 to clarify certain aspects of the new current expected credit losses impairment model in ASU 2016-13. ASU 2018-19 points out that operating lease receivables are within the scope of ASC 842 rather than ASC 326. The standard became effective for the Company beginning January 1, 2020. The adoption of this standard did not have a material impact on the Company’s results of operations, financial condition, cash flows, and financial statement disclosures. In August 2018, the Financial Accounting Standards Board (FASB) issued Accounting Standards Updates ASU 2018-13, which changes the fair value measurement disclosure requirements of ASC 820. The standard became effective for the Company beginning January 1, 2020. The amendments in this ASU are the result of a broader disclosure project called FASB Concepts Statement, Conceptual Framework for Financial Reporting — Chapter 8: Notes to Financial Statements. The adoption of this standard did not have a material impact on the Company’s results of operations, financial condition, cash flows, and financial statement disclosures. |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Accounting Policies [Abstract] | |
Estimated fair values | Estimated fair values September 30, 2021 December 31, 2020 Carrying Amount Fair Value Carrying Amount Fair Value Cash $ 19 $ 19 $4,994 $ 4,994 Accounts payable and accrued liabilities 39,176 39,176 867,710 867,710 Convertible loan — — 107,800 107,800 Loans payable to stockholders Loans payable to related party — — 522,522 522,522 Loans payable to related party — — 130,677 130,677 Loans payable — — 74,664 74,664 Amounts due to related parties 35,498 35,498 352,651 352,651 |
Fair Value, Assets Measured on Recurring Basis | Fair Value, Assets Measured on Recurring Basis September 30, 2021 Quoted Prices Significant Significant Assets: Cash $ 19 $ 19 $ — $ — |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies - Estimated Fair Value (Details) - USD ($) | Sep. 30, 2021 | Jul. 23, 2021 | Dec. 31, 2020 |
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Line Items] | |||
Cash | $ 19 | $ 4,994 | |
Accounts payable and accrued liabilities | 39,176 | 867,710 | |
Convertible loan | 0 | 107,800 | |
Loans payable to stockholders | 92,935 | ||
Loans payable to related party | 130,947 | $ 130,947 | 130,947 |
Loans payable | 74,762 | ||
Carrying Amount [Member] | |||
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Line Items] | |||
Cash | 19 | 4,994 | |
Accounts payable and accrued liabilities | 39,176 | 867,710 | |
Convertible loan | 0 | 107,800 | |
Loans payable to stockholders | 0 | 522,522 | |
Loans payable to related party | 0 | 130,677 | |
Loans payable | 0 | 74,664 | |
Amount due to related parties | 35,498 | 352,651 | |
Fair Value [Member] | |||
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Line Items] | |||
Cash | 19 | 4,994 | |
Accounts payable and accrued liabilities | 39,176 | 867,710 | |
Convertible loan | 0 | 107,800 | |
Loans payable to stockholders | 0 | 522,522 | |
Loans payable to related party | 0 | 130,677 | |
Loans payable | 0 | 74,664 | |
Amount due to related parties | $ 35,498 | $ 352,651 |
Summary of Significant Accoun_5
Summary of Significant Accounting Policies - Fair Value, Assets Measured on Recurring Basis (Details) - USD ($) | Sep. 30, 2021 | Dec. 31, 2020 |
Defined Benefit Plan Disclosure [Line Items] | ||
Cash | $ 19 | $ 4,994 |
Fair Value, Inputs, Level 1 [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Cash | 19 | |
Fair Value, Inputs, Level 2 [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Cash | 0 | |
Fair Value, Inputs, Level 3 [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Cash | $ 0 |
Loans Payable (Details Narrativ
Loans Payable (Details Narrative) - USD ($) | 1 Months Ended | 3 Months Ended | 9 Months Ended | |||||
Jul. 23, 2021 | Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | Mar. 30, 2020 | Mar. 04, 2020 | |
Loans Payable | ||||||||
Loans received from stockholders | $ 0 | $ 0 | $ 522,552 | |||||
Loans received from related parties | 200 | 200 | 130,677 | |||||
Loans received from unrelated third parties | 0 | $ 0 | 74,664 | |||||
Interst rate | 6.00% | |||||||
Loans payable | 92,935 | $ 92,935 | ||||||
Accrued interest | $ 89,124 | 0 | 0 | 515,263 | ||||
Interest expenses | 0 | $ 10,623 | 16,427 | $ 31,356 | ||||
Loan settled through issuance of common shares | 50,000 | 60,000 | 50,000 | 60,000 | $ 60,000 | |||
Interest settled through issuance of common shares | 38,945 | $ 37,104 | 38,945 | $ 37,104 | $ 37,104 | |||
Common shares issued for settlement of debt | 3,576.64 | 3,576.64 | 971,040 | |||||
Loans payable to stockholders | 480,960 | 480,960 | 480,960 | |||||
Loans payable to related party | 130,947 | $ 130,947 | $ 130,947 | $ 130,947 | ||||
Accrued interest on loans payable | $ 361,283 | |||||||
Number of shares issued for settlement debt | 21,127,123 | |||||||
Accounts payable and accrued liabilities | $ 262,056 | |||||||
Number of shares issued | 6,551,392 |
Stock Options (Details Narrativ
Stock Options (Details Narrative) - shares | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | |
Stock Options | |||
Stock options outstanding | 0 | 0 | |
Options granted | 0 | 0 | |
Options exercised | 0 | 0 | |
Options expired | 0 | 0 |
Common stock (Details Narrative
Common stock (Details Narrative) - USD ($) | 9 Months Ended | |||||
Sep. 30, 2021 | Sep. 30, 2020 | Jul. 23, 2021 | Dec. 31, 2020 | Mar. 30, 2020 | Mar. 04, 2020 | |
Equity [Abstract] | ||||||
Restricted common stock issued | 29,537,848 | |||||
Restricted common stock, amount | $ 14,065,923 | |||||
Accounts payable and accrued liabilities | 662,251 | |||||
Convertible loans | 107,800 | |||||
Loans payable to stockholders | 480,960 | $ 480,960 | ||||
Loans payable to related party | 130,947 | $ 130,947 | $ 130,947 | |||
Loans payable | 74,762 | |||||
Due to related parties | $ 149,124 | |||||
Shares issued during the period | 971,040 | |||||
Share price | $ 0.10 | |||||
Loan settled through issuance of common shares | $ 50,000 | $ 60,000 | $ 60,000 | |||
Interest settled through issuance of common shares | $ 38,945 | $ 37,104 | $ 37,104 | |||
Common shares issued for settlement of debt | 3,576.64 | 971,040 |
Related Party Transactions an_2
Related Party Transactions and Amounts Due to Related Parties (Details Narrative) - USD ($) | 1 Months Ended | 9 Months Ended | ||
Jul. 23, 2021 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | |
Related Party Transaction [Line Items] | ||||
Amounts due to related parties | $ 35,298 | $ 352,651 | ||
Consulting fees | 55,461 | $ 11,888 | ||
Number of shares issued | 436,492 | |||
Number of shares issued, amount | $ 207,857 | |||
Gain on settlement debt | 12,213 | |||
Loans payable to related party | 220,071 | |||
Loans payable to related party | $ 130,947 | 130,947 | 130,947 | |
Accrued interest on loans | 89,124 | |||
Debt forgiveness | 206,302 | |||
Accounts payable and accrued liabilities | 163,586 | |||
Former Director [Member] | ||||
Related Party Transaction [Line Items] | ||||
Number of shares issued | 1,500,000 | |||
Number of shares issued, amount | $ 714,300 | |||
Gain on settlement debt | $ 654,300 | |||
Chief Executive Officer [Member] | ||||
Related Party Transaction [Line Items] | ||||
Due to related party | 35,298 | 3,487 | ||
Director [Member] | ||||
Related Party Transaction [Line Items] | ||||
Due to related party | 0 | 60,000 | ||
Former Director [Member] | ||||
Related Party Transaction [Line Items] | ||||
Due to related party | 0 | 579,088 | ||
Former Director And Related Entities [Member] | ||||
Related Party Transaction [Line Items] | ||||
Due to related party | $ 369,888 | $ 0 |
Convertible Loans (Details Narr
Convertible Loans (Details Narrative) - USD ($) | Oct. 12, 2018 | Jul. 23, 2021 | May 18, 2016 | Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | Mar. 30, 2020 | Mar. 04, 2020 |
Convertible Note | $ 0 | $ 0 | $ 107,800 | |||||||
Interest expenses | 89,124 | |||||||||
Loan settled through issuance of common shares | 50,000 | $ 60,000 | 50,000 | $ 60,000 | $ 60,000 | |||||
Interest settled through issuance of common shares | 38,945 | 37,104 | 38,945 | 37,104 | $ 37,104 | |||||
Number of shares issued, amount | $ 207,857 | |||||||||
Number of shares issued | 436,492 | |||||||||
Cai E [Member] | ||||||||||
Loan settled through issuance of common shares | $ 146,712 | |||||||||
Interest settled through issuance of common shares | 107,800 | |||||||||
Number of shares issued, amount | $ 38,912 | |||||||||
Number of shares issued | 359,333 | |||||||||
Cai E Food Partnership Ltd [Member] | ||||||||||
Convertible Note, Interest | 10.00% | |||||||||
Convertible Note | $ 50,000 | 0 | 0 | 50,000 | ||||||
Common stock, per share price | $ 0.20 | |||||||||
Maturity date | Mar. 31, 2021 | |||||||||
Cai E Food Partnership Ltd Three [Member] | ||||||||||
Amortization of debt discount | 0 | 0 | ||||||||
Interest expenses | 0 | 1,250 | 1,250 | 3,750 | ||||||
Cai E Food Partnership Ltd 1 [Member] | ||||||||||
Amortization of debt discount | 0 | 0 | ||||||||
Cai E Food Partnership Ltd 2 [Member] | ||||||||||
Convertible Note, Interest | 10.00% | |||||||||
Convertible Note | $ 57,800 | 57,800 | 57,800 | $ 0 | ||||||
Common stock, per share price | $ 0.20 | |||||||||
Maturity date | Mar. 31, 2021 | |||||||||
Amortization of debt discount | 0 | 14,450 | 0 | 43,350 | ||||||
Interest expenses | $ 0 | $ 1,445 | $ 1,445 | $ 4,335 |
Other Income (Details Narrative
Other Income (Details Narrative) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Other Income | ||||
Other income | $ 0 | $ 0 | $ 458,833 | $ 0 |
Debt forgiveness | 206,302 | |||
Accounts payable and accrued liabilities | $ 163,586 | 163,586 | ||
Extinguishment debt | $ 88,945 |