Cover
Cover - shares | 3 Months Ended | |
Mar. 31, 2022 | May 18, 2022 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Document Period End Date | Mar. 31, 2022 | |
Document Fiscal Period Focus | Q1 | |
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 ($) | Mar. 31, 2022 | Dec. 31, 2021 |
Current assets: | ||
Cash | $ 3,118 | $ 3,340 |
Total assets | 3,118 | 3,340 |
Current liabilities | ||
Accounts payable and accrued liabilities | 60,695 | 54,931 |
Convertible loan (Note 8) | 0 | 0 |
Loans payable to stockholders (Note 3) | 15,500 | 15,500 |
Loans payable to related party (Note 3) | 300 | 300 |
Loans payable (Note 3) | 0 | 0 |
Amounts due to related parties (Note 7) | 37,038 | 34,194 |
Total current liabilities | 113,533 | 104,925 |
Stockholders' deficiency | ||
Common stock, $0.001 par value 500,000,000 authorized, 34,148,518 and 34,148,518 shares issued and outstanding at March 31, 2022, and December 31, 2021, respectively | 34,149 | 34,149 |
Additional paid-in capital | 35,956,574 | 35,956,574 |
Deficit | (36,097,802) | (36,088,972) |
Total Stockholders' deficiency before treasury stock | (107,079) | (98,249) |
Less Treasury stock – 2,085 common shares at March 31, 2022, and December 31, 2021, respectively | (3,336) | (3,336) |
Total stockholders’ deficiency | (110,415) | (101,585) |
Total liabilities and stockholders’ deficit | $ 3,118 | $ 3,340 |
Condensed Interim Balance She_2
Condensed Interim Balance Sheets (Unaudited) (Parenthetical) - $ / shares | Mar. 31, 2022 | Dec. 31, 2021 |
Statement of Financial Position [Abstract] | ||
Common Stock, Par or Stated Value Per Share | $ 0.001 | $ 0.001 |
Common Stock, Shares Authorized | 500,000,000 | 500,000,000 |
Common Stock, Shares, Issued | 34,148,518 | 34,148,518 |
Common Stock, Shares, Outstanding | 34,148,518 | 34,148,518 |
Treasury stock | 2,085 | 2,085 |
Condensed Interim Statements of
Condensed Interim Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Operating expenses | ||
General and administrative | $ 3,292 | $ 3,360 |
Professional fees | 5,344 | 7,313 |
Total operating expenses | 8,636 | 10,673 |
Loss from operations | (8,636) | (10,673) |
Interest expense (Note 3 and Note 8) | (194) | (12,299) |
Foreign exchange gain | 0 | 20,713 |
Net loss and comprehensive loss | $ (8,830) | $ (2,259) |
Per common share information - basic and diluted: | ||
Weighted average shares outstanding | 34,148,518 | 4,610,670 |
Net loss per common share – basic and diluted | $ 0 | $ 0 |
Condensed Interim Statements _2
Condensed Interim Statements of Cash Flows (Unaudited) - USD ($) | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Cash flows from operating activities | ||
Net loss | $ (8,830) | $ (2,259) |
Items not involving cash: | ||
Interest expense | 0 | 12,299 |
Unrealized foreign exchange | 0 | (37,878) |
Changes in non-cash working capital: | ||
Accounts payable and accrued liabilities | 5,764 | 20,028 |
Amounts due to related parties | 2,844 | 3,723 |
Net cash used in operations | (222) | (4,087) |
Cash flows from investing activities | ||
Net cash used in investing activities | 0 | 0 |
Cash flows from financing activities | ||
Proceeds of loans payable | 0 | 0 |
Net cash provided by financing activities | 0 | 0 |
Change in cash | (222) | (4,087) |
Cash, beginning of period | 3,340 | 3,340 |
Cash, end of period | 3,118 | 907 |
Supplementary information | ||
Cash paid for interest | 0 | 0 |
Cash paid for income taxes | 0 | 0 |
Non-cash operating activities (Note 3) | 0 | 0 |
Non-cash financing activities (Note 3) | 0 | 0 |
Non-cash investing activities | $ 0 | $ 0 |
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, 2020 | $ 4,611 | $ 21,920,189 | $ (23,972,524) | $ (3,336) | $ (2,051,060) |
Balance at beginning, shares at Dec. 31, 2020 | 4,610,670 | 2,085 | |||
Balance at beginning, shares at Dec. 31, 2020 | (4,610,670) | (2,085) | |||
Net loss | (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 | 2,085 | |||
Balance at ending, shares at Mar. 31, 2021 | (4,610,670) | (2,085) | |||
Debt settlement | $ 29,538 | 14,036,385 | 14,065,923 | ||
Balance at beginning, shares at Mar. 31, 2021 | (4,610,670) | (2,085) | |||
Debt settlement, shares | 29,573,848 | ||||
Net loss | (12,114,189) | (12,114,189) | |||
Ending balance, value at Dec. 31, 2021 | $ 34,149 | 35,956,574 | (36,088,972) | $ (3,336) | (101,585) |
Balance at ending, shares at Dec. 31, 2021 | 34,148,518 | 2,085 | |||
Balance at ending, shares at Dec. 31, 2021 | (34,148,518) | (2,085) | |||
Balance at beginning, shares at Dec. 31, 2021 | (34,148,518) | (2,085) | |||
Net loss | (8,830) | (8,830) | |||
Ending balance, value at Mar. 31, 2022 | $ 34,149 | $ 35,956,574 | $ (36,097,802) | $ (3,336) | $ (110,415) |
Balance at ending, shares at Mar. 31, 2022 | 34,148,518 | 2,085 | |||
Balance at ending, shares at Mar. 31, 2022 | (34,148,518) | (2,085) |
Nature of Business and Ability
Nature of Business and Ability to Continue as a Going Concern | 3 Months Ended |
Mar. 31, 2022 | |
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. On March 17, 2016, the Company signed a non-binding memorandum of understanding intent on acquiring a fresh food manufacturer and distributor. On November 11, 2020, we notified the intended target that the Company was no longer interested in pursuing the acquisition of its business due to the delays attendant to the prospective transaction. On May 21, 2021, the Company signed a non-binding term sheet intent on acquiring a multi-media platform. The term sheet required that the owner of the acquisition target first secure voting control of the Company as a pre-condition to his facilitating a transaction. The owner effectively secured voting control on June 30, 2021. On October 26, 2021, the Company signed a recission agreement and mutual release with the owner of the intended acquisition, as the parties were 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 three-month period ended March 31, 2022, the Company recognized net loss of $8,830 as a result of general administrative expenses, professional fees and interest expenses. The Company had a working capital deficiency of $110,415 as of March 31, 2022. These conditions raise substantial doubt about the Company’s ability to continue as a going concern. The World Health Organization declared coronavirus COVID-19 a global pandemic in March 2020. COVID-19 is a contagious disease that has adversely affected workforces, economies, and financial markets around the world. The Company can neither predict the duration or the magnitude of adverse results connected to COVID-19, nor can it predict the effect, if any, COVID-19 will have on its search to identify a business opportunity or its ability to attract sufficient capital to sustain operations. The Company’s present intention is to identify, evaluate and secure a business opportunity to create value for its stockholders. During this search the Company will require continued financial support from stockholders and creditors until it is able to generate net cash flow from operations. While the Company is confident that a business opportunity will be identified, the insufficiency of its financial resources casts substantial doubt on whether it will be able to fulfill this objective. 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 | 3 Months Ended |
Mar. 31, 2022 | |
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. The Company’s fiscal year end is December 31. The accompanying condensed interim financial statements of Arvana Inc. for the three months ended March 31, 2022, and 2021, 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, 2021, as filed with the Securities and Exchange Commission (“Commission”) on April 21, 2022. 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 March 31, 2022, and December 31, 2021, are as follows: Estimated fair values March 31, 2022 December 31, 2021 Carrying Amount Fair Value Carrying Amount Fair Value Cash $ 3,118 $ 3,118 $ 3,340 $ 3,340 Accounts payable and accrued liabilities 60,695 60,695 54,931 54,931 Loans payable to stockholders 15,500 15,500 15,500 15,500 Loans payable to related party 300 300 300 300 Amounts due to related parties 37,038 37,038 34,194 34,194 The following table presents information about the assets that are measured at fair value on a recurring basis as of March 31, 2022, 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 March 31, 2022 Quoted Prices Significant Significant Assets: Cash $ 3,118 $ 3,118 $ — $ — 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 were no new standards adopted by the Company in this reporting period. |
Loans Payable
Loans Payable | 3 Months Ended |
Mar. 31, 2022 | |
Loans Payable | |
Loans Payable | 3. Loans Payable As of March 31, 2022, the Company had received a loan of $ 15,500 15,500 300 300 5 279 85 194 0 During the year ended December 31, 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 | 3 Months Ended |
Mar. 31, 2022 | |
Stock Options | |
Stock Options | 4. Stock Options At March 31, 2022, and December 31, 2021, there were no No |
Common stock
Common stock | 3 Months Ended |
Mar. 31, 2022 | |
Equity [Abstract] | |
Common stock | 5. Common stock During the three months ended March 31, 2022, the Company issued nil shares. During the year ended December 31, 2021, the Company issued 29,537,848 14,065,923 662,251 107,800 480,960 130,947 74,762 149,124 |
Segmented Information
Segmented Information | 3 Months Ended |
Mar. 31, 2022 | |
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 | 3 Months Ended |
Mar. 31, 2022 | |
Related Party Transactions [Abstract] | |
Related Party Transactions and Amounts Due to Related Parties | 7. Related Party Transactions and Amounts Due to Related Parties At March 31, 2022, and December 31, 2021, the Company had amounts due to related parties of $ 37,038 34,194 37,338 34,494 2,844 4,569 A former chief executive officer and director assigned to a related corporation an unpaid amount of $ 161,234 202,759 During the year ended December 31, 2021, $ 220,071 130,947 89,124 436,492 207,421 12,650 During the year ended December 31, 2021, amounts due to a former director and related entities of $ 369,888 0 206,302 163,586 |
Convertible Loans
Convertible Loans | 3 Months Ended |
Mar. 31, 2022 | |
Convertible Loans | |
Convertible Loans | 8. Convertible Loans On May 18, 2016, the Company issued a convertible promissory note to a lender that accrued 10 50,000 November 17, 2017 0.20 no 0 1,250 0 On October 12, 2018, the Company issued a convertible note to a lender that accrued 10 57,800 0.20 March 31, 2021 0 0 1,445 0 On July 23, 2021, CaiE settled a total of $ 146,712 107,800 38,912 359,333 |
Subsequent Events
Subsequent Events | 3 Months Ended |
Mar. 31, 2022 | |
Subsequent Events [Abstract] | |
Subsequent Events | 9. Subsequent Events The Company evaluated its March 31, 2022, financial statements for subsequent events through the date the financial statements were issued. The Company is not aware of any subsequent events which would require recognition or disclosure in the financial statements except as provided below: On April 19, 2022, the Company secured a loan of $ 20,244 |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 3 Months Ended |
Mar. 31, 2022 | |
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. The Company’s fiscal year end is December 31. The accompanying condensed interim financial statements of Arvana Inc. for the three months ended March 31, 2022, and 2021, 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, 2021, as filed with the Securities and Exchange Commission (“Commission”) on April 21, 2022. 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 March 31, 2022, and December 31, 2021, are as follows: Estimated fair values March 31, 2022 December 31, 2021 Carrying Amount Fair Value Carrying Amount Fair Value Cash $ 3,118 $ 3,118 $ 3,340 $ 3,340 Accounts payable and accrued liabilities 60,695 60,695 54,931 54,931 Loans payable to stockholders 15,500 15,500 15,500 15,500 Loans payable to related party 300 300 300 300 Amounts due to related parties 37,038 37,038 34,194 34,194 The following table presents information about the assets that are measured at fair value on a recurring basis as of March 31, 2022, 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 March 31, 2022 Quoted Prices Significant Significant Assets: Cash $ 3,118 $ 3,118 $ — $ — 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 were no new standards adopted by the Company in this reporting period. |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Accounting Policies [Abstract] | |
Estimated fair values | Estimated fair values March 31, 2022 December 31, 2021 Carrying Amount Fair Value Carrying Amount Fair Value Cash $ 3,118 $ 3,118 $ 3,340 $ 3,340 Accounts payable and accrued liabilities 60,695 60,695 54,931 54,931 Loans payable to stockholders 15,500 15,500 15,500 15,500 Loans payable to related party 300 300 300 300 Amounts due to related parties 37,038 37,038 34,194 34,194 |
Fair Value, Assets Measured on Recurring Basis | Fair Value, Assets Measured on Recurring Basis March 31, 2022 Quoted Prices Significant Significant Assets: Cash $ 3,118 $ 3,118 $ — $ — |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies - Estimated Fair Value (Details) - USD ($) | Mar. 31, 2022 | Dec. 31, 2021 | Jul. 23, 2021 |
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items] | |||
Cash | $ 3,118 | $ 3,340 | |
Accounts payable and accrued liabilities | 60,695 | 54,931 | |
Loans payable to related party | 130,947 | $ 130,947 | |
Carrying Amount [Member] | |||
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items] | |||
Cash | 3,118 | 3,340 | |
Accounts payable and accrued liabilities | 60,695 | 54,931 | |
Loans payable to stockholders | 15,500 | 15,500 | |
Loans payable to related party | 300 | 300 | |
Amount due to related parties | 37,038 | 34,194 | |
Fair Value [Member] | |||
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items] | |||
Cash | 3,118 | 3,340 | |
Accounts payable and accrued liabilities | 60,695 | 54,931 | |
Loans payable to stockholders | 15,500 | 15,500 | |
Loans payable to related party | 300 | 300 | |
Amount due to related parties | $ 37,038 | $ 34,194 |
Summary of Significant Accoun_5
Summary of Significant Accounting Policies - Fair Value, Assets Measured on Recurring Basis (Details) - USD ($) | Mar. 31, 2022 | Dec. 31, 2021 |
Defined Benefit Plan Disclosure [Line Items] | ||
Cash | $ 3,118 | $ 3,340 |
Fair Value, Inputs, Level 1 [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Cash | 3,118 | |
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 | ||
Jul. 23, 2021 | Mar. 31, 2022 | Mar. 31, 2021 | Dec. 31, 2021 | |
Loans Payable | ||||
Loans received from stockholders | $ 15,500 | $ 15,500 | ||
Loans received from related parties | $ 300 | 300 | ||
Interst rate | 5.00% | |||
Accrued interest | $ 89,124 | $ 279 | 85 | |
Interest expenses | $ 194 | $ 0 | ||
Loan settled through issuance of common shares | 50,000 | |||
Interest settled through issuance of common shares | 38,945 | |||
Loans payable to stockholders | 480,960 | 480,960 | ||
Loans payable to related party | 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 | 3 Months Ended | 9 Months Ended | |
Mar. 31, 2022 | Sep. 30, 2020 | Dec. 31, 2021 | |
Stock Options | |||
Stock options outstanding | 0 | 0 | |
Options granted | 0 | 0 |
Common stock (Details Narrative
Common stock (Details Narrative) - USD ($) | 12 Months Ended | |
Dec. 31, 2021 | Jul. 23, 2021 | |
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 |
Loans payable | 74,762 | |
Due to related parties | $ 149,124 |
Related Party Transactions an_2
Related Party Transactions and Amounts Due to Related Parties (Details Narrative) | 1 Months Ended | 3 Months Ended | 12 Months Ended | |||
Jul. 23, 2021USD ($)shares | Mar. 31, 2022USD ($) | Mar. 31, 2021USD ($) | Dec. 31, 2021USD ($) | Mar. 31, 2022CAD ($) | Dec. 31, 2020USD ($) | |
Related Party Transaction [Line Items] | ||||||
Amounts due to related parties | $ 37,038 | $ 34,194 | ||||
Consulting fees | 2,844 | $ 4,569 | ||||
Loans payable to related party | 220,071 | |||||
Loans payable to related party | $ 130,947 | 130,947 | ||||
Accrued interest on loans | 89,124 | |||||
Number of shares issued | shares | 436,492 | |||||
Number of shares issued, amount | $ 207,421 | |||||
Gain on settlement debt | $ 12,650 | |||||
Debt forgiveness | 206,302 | |||||
Accounts payable and accrued liabilities | 163,586 | |||||
Chief Executive Officer [Member] | ||||||
Related Party Transaction [Line Items] | ||||||
Due to related party | 37,338 | 34,494 | ||||
Director [Member] | Former Chief Executive Officer [Member] | ||||||
Related Party Transaction [Line Items] | ||||||
Unpaid amount | $ 161,234 | $ 202,759 | ||||
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 | Mar. 31, 2022 | Mar. 31, 2021 | Dec. 31, 2021 |
Convertible Note | $ 0 | $ 0 | ||||
Interest expenses | 89,124 | |||||
Loan settled through issuance of common shares | 50,000 | |||||
Interest settled through issuance of common shares | 38,945 | |||||
Number of shares issued, amount | $ 207,421 | |||||
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 | |||
Maturity date | Nov. 17, 2017 | |||||
Common stock, per share price | $ 0.20 | |||||
Amortization of debt discount | 0 | $ 0 | ||||
Interest expenses | 0 | 1,250 | ||||
Cai E Food Partnership Ltd 2 [Member] | ||||||
Convertible Note, Interest | 10.00% | |||||
Convertible Note | $ 57,800 | 0 | 0 | |||
Maturity date | Mar. 31, 2021 | |||||
Common stock, per share price | $ 0.20 | |||||
Amortization of debt discount | 0 | 0 | ||||
Interest expenses | $ 0 | $ 1,445 |
Subsequent Events (Details Narr
Subsequent Events (Details Narrative) | 1 Months Ended |
Apr. 19, 2022USD ($) | |
Subsequent Event [Member] | |
Subsequent Event [Line Items] | |
Proceeds from loans | $ 20,244 |