Cover
Cover - shares | 6 Months Ended | |
Jun. 30, 2022 | Aug. 22, 2022 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Document Period End Date | Jun. 30, 2022 | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2022 | |
Current Fiscal Year End Date | --12-31 | |
Entity File Number | 333-248871 | |
Entity Registrant Name | ECO INNOVATION GROUP, INC. | |
Entity Central Index Key | 0001144169 | |
Entity Tax Identification Number | 85-0842591 | |
Entity Incorporation, State or Country Code | NV | |
Entity Address, Address Line One | 16525 Sherman Way | |
Entity Address, Address Line Two | Suite C-1 | |
Entity Address, City or Town | Van Nuys | |
Entity Address, State or Province | CA | |
Entity Address, Postal Zip Code | 91406 | |
City Area Code | (800) | |
Local Phone Number | 922-4356 | |
Title of 12(b) Security | Common Stock | |
Trading Symbol | ECOX | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | true | |
Elected Not To Use the Extended Transition Period | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 644,985,218 |
CONSOLIDATED BALANCE SHEETS (Un
CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) | Jun. 30, 2022 | Dec. 31, 2021 |
Current Assets | ||
Cash and cash equivalents | $ 22,458 | $ 28,534 |
Accounts receivable | 275,913 | 33,047 |
Prepaid expenses | 172,758 | 82,498 |
Total Current Assets | 471,129 | 144,079 |
Other Assets | ||
Furniture and Equipment | 35,795 | 41,974 |
Goodwill | 103,188 | 103,188 |
Investment | 16,774 | 75,833 |
Deposits and other assets | 13,612 | 8,000 |
Total Other Assets | 169,369 | 228,995 |
Total Assets | 640,498 | 373,074 |
Current Liabilities | ||
Accounts Payable and accrued expenses | 502,347 | 326,268 |
Accounts Payable related party | 440,523 | 391,377 |
Convertible Notes Payable, net | 179,613 | 129,219 |
Notes Payable | 124,708 | 127,690 |
Deferred Revenue | 82,603 | |
Warrant Liability | 7,800 | 135,525 |
Share Payable Liability | 1,603,208 | 866,885 |
Derivative liabilities | 1,724,145 | 2,328,234 |
Convertible Notes Payable Related Party, net | 297,439 | 138,073 |
Series C Preferred stock liability, net | 156,685 | 210,432 |
Total Current Liabilities | 5,119,071 | 4,653,703 |
Total Liabilities | 5,119,071 | 4,653,703 |
Stockholders' Deficit | ||
Preferred stock, par value $0.001, authorized 50,000,000 shares, issued and outstanding 30,000,000 shares | 30,000 | 30,000 |
Common stock, par value $0.0001, authorized 5,000,000,000 shares, issued and outstanding 598,090,355 and 196,912,036 shares at June 30, 2022 and December 31, 2021, respectively | 59,811 | 19,691 |
Common shares to be issued, 0 and 1,000,000 as of June 30, 2022 and December 31, 2021, respectively | 100 | |
Additional paid-in capital | 10,577,432 | 8,238,979 |
Other comprehensive income | 4,811 | (18) |
Accumulated deficit | (15,158,465) | (12,594,976) |
Total Stockholders' Deficit Attributable to Eco Innovation Group stockholders | (4,486,411) | (4,306,224) |
Noncontrolling interest | 7,838 | 25,595 |
Total stockholder's Equity (Deficit) | (4,478,573) | (4,280,629) |
TOTAL LIABILITIES and Stockholders' Deficit | $ 640,498 | $ 373,074 |
CONSOLIDATED BALANCE SHEETS (_2
CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares | Jun. 30, 2022 | Dec. 31, 2021 |
Statement of Financial Position [Abstract] | ||
Preferred stock, par value | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized | 50,000,000 | 50,000,000 |
Preferred stock, shares issued | 30,000,000 | 30,000,000 |
Preferred stock, shares outstanding | 30,000,000 | 30,000,000 |
Common stock, par value | $ 0.0001 | $ 0.0001 |
Common stock, shares authorized | 5,000,000,000 | 5,000,000,000 |
Common stock, shares issued | 598,090,355 | 196,912,036 |
Common stock, shares outstanding | 598,090,355 | 196,912,036 |
Common stock to be issued, shares | 0 | 1,000,000 |
CONSOLIDATED PROFIT AND LOSS ST
CONSOLIDATED PROFIT AND LOSS STATEMENT (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Income Statement [Abstract] | ||||
Revenue | $ 311,156 | $ 427,761 | ||
Cost of Revenue | 289,111 | 431,416 | ||
Gross Profit | 22,045 | (3,655) | ||
Operating Expenses | ||||
General and Administrative | 175,510 | 78,899 | 310,964 | 142,404 |
Development and Manufacture Expenses | 106 | 165 | ||
Executive Compensation | 75,000 | 75,000 | 150,000 | 350,000 |
Consulting Fee | 124,250 | 119,930 | 171,750 | 546,597 |
Total Operating Expense | 374,760 | 273,935 | 632,714 | 1,039,166 |
Operating Loss | (352,715) | (273,935) | (636,369) | (1,039,166) |
Other Income (Expenses) | ||||
Derivative gain (loss) | 2,898,359 | 217,497 | (664,902) | 224,875 |
Warrant gain (loss) | 8,400 | 127,725 | ||
Loss on conversion of debt | (8,692) | (8,692) | ||
Impairment loss - Investment | (25,161) | (59,059) | ||
Other expense | (337,037) | (292,500) | (736,323) | (292,500) |
Interest expense | (230,689) | (628,351) | (603,625) | (653,265) |
Total Other Income (Loss) | 2,305,180 | (703,354) | (1,944,876) | (720,890) |
Net income (loss) | 1,952,464 | (977,289) | (2,581,246) | (1,760,056) |
Net loss attributable to noncontrolling interest | 6,992 | 17,757 | ||
Net income (loss) attributable to Eco Innovation Group | 1,959,456 | (977,289) | (2,563,489) | (1,760,056) |
Currency translation loss | (7) | 4,829 | ||
Comprehensive Income (Loss) | $ 1,959,449 | $ (977,289) | $ (2,558,660) | $ (1,760,056) |
Basic Loss per Common Share | $ 0 | $ (0.01) | $ (0.01) | $ (0.01) |
Diluted Loss per Common Share | $ 0 | $ (0.01) | $ (0.01) | $ (0.01) |
Weighted Average Common Shares Outstanding Basic | 456,781,691 | 176,014,934 | 378,483,176 | 168,147,666 |
Weighted Average Common Shares Outstanding Diluted | 4,174,626,803 | 176,014,934 | 378,483,176 | 168,147,666 |
STATEMENT OF CHANGES IN SHAREHO
STATEMENT OF CHANGES IN SHAREHOLDERS EQUITY/DEFICIT (Unaudited) - USD ($) | Preferred Stock A [Member] | Common Stock [Member] | Common Stock To Be Issued [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total Equity Of Eco Innovation [Member] | Noncontrolling Interest [Member] | Total |
Beginning balance, value at Dec. 31, 2020 | $ 30,000 | $ 13,993 | $ 20,000 | $ 6,386,060 | $ (5,959,540) | $ 490,513 | $ 490,513 | ||
Beginning balance, shares at Dec. 31, 2020 | 30,000,000 | 139,930,680 | 20,000,000 | ||||||
Common stock to be issued for services | $ 1,000 | $ (5,000) | 339,000 | 335,000 | 335,000 | ||||
Common stock to be issued for services, shares | 10,000,000 | (5,000,000) | |||||||
Common stock for prepaid expenses | $ 118 | 99,882 | 100,000 | 100,000 | |||||
Common stock for prepaid expenses, shares | 1,176,471 | ||||||||
Common stock to issued for license agreement | $ 1,500 | $ (15,000) | 13,500 | ||||||
Common stock to be issued for license agreement, shares | 15,000,000 | (15,000,000) | |||||||
Common stock issued for cash proceeds | $ 75 | 44,925 | 45,000 | 45,000 | |||||
Common Stock issued for cash proceeds, shares | 749,999 | ||||||||
Common stock issued for investment | $ 1,083 | 648,167 | 650,000 | 650,000 | |||||
Common stock issued for investment, shares | 10,833,333 | ||||||||
Net loss | (782,767) | (782,767) | (782,767) | ||||||
Ending balance, value at Mar. 31, 2021 | $ 30,000 | $ 17,769 | 7,532,284 | (6,742,307) | 837,746 | 837,746 | |||
Ending balance, shares at Mar. 31, 2021 | 30,000,000 | 177,690,483 | |||||||
Common stock issued for investment | $ 13,241 | 13,241 | 13,241 | ||||||
Common stock issued for investment, shares | 13,240,741 | ||||||||
Common stock cancelled | $ (268) | 268 | |||||||
Common stock cancelled, shares | (2,675,000) | ||||||||
Net loss | (977,289) | (977,289) | (977,289) | ||||||
Ending balance, value at Jun. 30, 2021 | $ 30,000 | $ 17,501 | $ 13,241 | 7,532,552 | (7,719,596) | (126,302) | (126,302) | ||
Ending balance, shares at Jun. 30, 2021 | 30,000,000 | 175,015,483 | 13,240,741 | ||||||
Beginning balance, value at Dec. 31, 2021 | $ 30,000 | $ 19,691 | $ 100 | 8,238,979 | (12,594,976) | (8) | (4,306,224) | 25,595 | (4,280,629) |
Beginning balance, shares at Dec. 31, 2021 | 30,000,000 | 196,912,036 | 1,000,000 | ||||||
Common stock issued for cash proceeds | $ 3,400 | 164,500 | 167,900 | 167,900 | |||||
Common Stock issued for cash proceeds, shares | 34,000,000 | ||||||||
Common stock issued for conversion of notes payable | $ 8,978 | 201,494 | 201,472 | 210,472 | |||||
Common stock issued for conversion of notes payable, shares | 89,769,190 | ||||||||
Common stock issued for conversion of Series C preferred | $ 6,743 | 121,882 | 128,625 | 128,625 | |||||
Common stock issued for conversion of Series C preferred, shares | 67,414,457 | ||||||||
Settlement of derivative liability upon conversion of notes payable | 310,621 | 310,621 | 310,621 | ||||||
Net loss | (4,522,945) | (4,522,945) | (10,765) | (4,533,710) | |||||
Comprehensive Loss | 4,836 | 4,836 | 4,836 | ||||||
Ending balance, value at Mar. 31, 2022 | $ 30,000 | $ 38,812 | $ 100 | 9,037,476 | (17,117,921) | 4,818 | (8,006,715) | 14,830 | (7,991,885) |
Ending balance, shares at Mar. 31, 2022 | 30,000,000 | 388,095,683 | 1,000,000 | ||||||
Common stock issued for conversion of notes payable | $ 2,560 | 25,600 | 28,160 | 28,160 | |||||
Common stock issued for conversion of notes payable, shares | 25,600,000 | ||||||||
Common stock issued for conversion of Series C preferred | $ 8,647 | 95,041 | 103,688 | 103,688 | |||||
Common stock issued for conversion of Series C preferred, shares | 86,478,147 | ||||||||
Common stock issued for financing costs | $ 1,322 | 37,369 | 38,691 | 38,691 | |||||
Common stock issued for financing costs, shares | 13,219,047 | ||||||||
Common stock issued for services | $ 2,779 | $ (100) | 72,321 | 75,000 | 75,000 | ||||
Common Stock issued for services, shares | 27,785,714 | (1,000,000) | |||||||
Common stock issued for settlement of liabilities | $ 5,691 | 91,059 | 96,750 | 96,750 | |||||
Common stock issued for settlement of liabilities, shares | 56,911,764 | ||||||||
Settlement of derivative liability upon conversion of notes payable | 1,218,566 | 1,218,566 | 1,218,566 | ||||||
Net loss | 1,959,456 | 1,959,456 | (6,992) | 1,952,464 | |||||
Comprehensive Loss | (7) | (7) | (7) | ||||||
Ending balance, value at Jun. 30, 2022 | $ 30,000 | $ 59,811 | $ 10,577,432 | $ (15,158,465) | $ 4,811 | $ (4,486,411) | $ 7,838 | $ (4,478,573) | |
Ending balance, shares at Jun. 30, 2022 | 30,000,000 | 598,090,355 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) | 6 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net loss | $ (2,581,246) | $ (1,760,056) |
used by operating activities: | ||
Derivative (gain) loss | 664,902 | (224,875) |
Warrant (gain) loss | (127,725) | |
Depreciation expense | 6,179 | |
Loss on conversion of debt | 8,692 | |
Investment impairment loss | 59,059 | |
Amortization of debt discount | 556,670 | 63,717 |
Interest expense on derivative issuance | 530,203 | |
Share payable expense | 736,323 | 292,500 |
Stock based compensation | 75,000 | 335,000 |
Changes in operating assets and liabilities | ||
Accounts receivable | (242,866) | |
Prepaid expenses | (95,872) | 41,667 |
Deferred Revenue | 82,603 | |
Accounts payable and accrued expenses | 311,011 | 487,883 |
Accounts payable related party | 49,146 | |
Net cash used by operating activities | (498,123) | (233,961) |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Purchase of intangible assets | (61,740) | |
Net cash provided by investing activities | (61,740) | |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Proceeds from convertible debenture | 112,800 | 384,850 |
Repayment of convertible debentures | (8,500) | (133,500) |
Proceeds from sale of common stock | 167,900 | 45,000 |
Proceeds from sale of preferred C stock | 155,000 | |
Repayment of notes payable | (2,587) | |
Proceeds from convertible notes payable, related party | 68,000 | |
Repayment of convertible notes payable, related party | (5,000) | |
Net cash provided by financing activities | 487,613 | 296,350 |
Effect of foreign exchange on cash | 4,434 | |
Change in cash | (6,076) | 649 |
Cash, beginning of year | 28,534 | 84 |
Cash, end of year | 22,458 | 733 |
Supplemental Cash Flow information | ||
Cash paid for interest | ||
Cash paid for income taxes | 44,155 | |
Non-Cash transactions | ||
Common stock issued for investment | 650,000 | |
Common stock issued for Conversion of notes payable | 236,910 | |
Common stock issued for prepaid expenses | 100,000 | |
Common stock issued for Conversion of Series C Preferred stock liability | 232,313 | |
Discount issued on convertible debt | 68,000 | |
Intangible asset Capitalized | 249,560 | |
Settlement of derivative liability upon conversion of notes payable | 460,003 | |
Extinguishment of liabilities upon debt modification | $ 1,069,184 |
NATURE OF OPERATIONS
NATURE OF OPERATIONS | 6 Months Ended |
Jun. 30, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
NATURE OF OPERATIONS | NOTE 1. NATURE OF OPERATIONS Eco Innovation Group, Inc. (the “Company,” “we,” “our,” or “Eco Innovation Group”), was incorporated in the State of Nevada March 5, 2001 1:1,000 On February 28, 2020, our current CEO and controlling Stockholder, Julia Otey-Raudes, took over management and control of the company, initiating a new business plan and winding down the previous business. In the related change of control transaction, Ms. Otey acquired 30,000,000 94 Under its business plan implemented in February 2020, the Company is an innovation incubator platform devoted to globally important paradigm shifts in technology, sustainable and carbon negative products development and practical deployment worldwide. On February 20, 2020, the Company increased its authorized common shares to 500,000,000 $ 0.001 on December 21, 2021, t 1,000,000,000 $ 0.001 2,000,000,000 $ 0.0001 2,000,000,000 0.0001 5,000,000,000 0.0001 The has 50,000,000 Preferred Stock, 30,000,000 Series Preferred Stock, with 30,000,000 and 167,500 Series Preferred Stock 100 common shares for Series erred Stock and 30,000,000 On October 4, 2021, Eco Innovation Group, Inc. (the "Company") entered into an asset purchase agreement (the “Asset Purchase Agreement”) with Spruce Construction, Inc., an Alberta Business Corporation (“Spruce Construction”) and Timothy Boetzkes ("Boetzkes"), a resident of the Province of Alberta, Canada and the sole shareholder of Spruce Construction, pursuant to which, the Company, Boetzkes and Spruce Construction agreed to effect an asset purchase agreement for existing construction equipment and form a new Canadian engineering and construction company in Canada, Spruce engineering & Construction Inc. The Company will own 85 10 5 On January 4, 2022, the Company formed a subsidiary, ECOX Spruce Construction, Inc., a California corporation (“ECOX Spruce Construction”), for the purpose of starting a green construction division. On January 25, 2022, Eco Innovation Group, Inc. (the "Company"), through its California subsidiary ECOX Spruce Construction , entered into a staffing and administrative services agreement (the “Construction Services Agreement”) with Blueprint Construction, a licensed California general contractor (“Blueprint Construction”) and Edgar E. Aguilar ("Aguilar"), a resident of California and the principal of Blueprint Construction, pursuant to which, Blueprint Construction, Aguilar and ECOX Spruce Construction agreed that ECOX Spruce Construction will oversee the operation of Blueprint’s construction business in California. Under the Company’s existing LOI with Aguilar, Blueprint Construction will own 20% of the equity interests of ECOX Spruce Construction Inc., and the Company will own 80%. Under the Construction Services Agreement, the Company agreed to manage all of Blueprint Construction’s contracting business on behalf of Blueprint Construction, for a renewable term of one year. Through ECOX Spruce Construction, the Company will provide all necessary corporate administration, shared services, compliance needs, construction staffing placement, general business infrastructure and support necessary for Blueprint’s performance under its general contracting and subcontracting projects as Blueprint’s exclusive provider of such services. Blueprint’s current active projects consist of a subcontracting agreement to renovate U.S. military base facilities, with a job value of $136,000. The Construction Services Agreement provides that ECOX Spruce Construction will receive a management fee equal to twenty percent (20%) of all collected cash revenues from Blueprint’s business. Under its business plan implemented in February 2020, the Company is an innovation incubator platform devoted to globally important paradigm shifts in technology, sustainable and carbon negative products development and practical deployment worldwide. The renewable field. Accounting policies and procedures are listed below. The Company has adopted a December 31 year-end. Basis of Presentation The has financial United Use of Estimates The United requires and and and and and revenue and differ Cash and Cash Equivalents The Company considers all highly liquid investments with original maturities of three months or less as cash equivalents. As of June 30, 2022, December 31, 2021, and December 31, 2020, the Company had no Earnings per share Basic Earnings Per Share (EPS) common common shares for options common stock were Long-Lived Assets The Company’s long-lived assets, including intangibles, are reviewed for impairment whenever events or changes in circumstances indicate that the historical cost carrying value of an asset may no longer be appropriate. The Company assesses recoverability of the asset by comparing the undiscounted future net cash flows expected to result from the asset to its carrying value. If the carrying value exceeds the undiscounted future net cash flows of the asset, an impairment loss is measured and recognized. An impairment loss is measured as the difference between the net book value and the fair value of the long-lived asset. During the quarter ended June 30, 2022, and the years ended December 31, 2021 and 2020, the Company evaluated long lived assets for impairment determined no Derivative Financial Instruments The Company does not use derivative instruments to hedge exposures to cash flow, market or foreign currency risks. The Company evaluates its financial instruments to determine if such instruments are derivatives or contain features that qualify as embedded derivatives. For derivative financial instruments that are accounted for as liabilities, the derivative instrument is initially recorded at its fair value and is then re-valued at each reporting date, with changes in the fair value reported in the statements of operations. The Company used a Black Scholes valuation model to value the derivative instruments at inception and on subsequent valuation dates. The classification of derivative instruments, including whether such instruments should be recorded as liabilities or as equity, is evaluated at the end of each reporting period. Derivative liabilities are classified in the balance sheet as current or non-current based on whether or not net-cash settlement or conversion of the instrument could be required within 12 months of the balance sheet date. Fair Value Measurements Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. ASC Topic 820 establishes a three-tier fair value hierarchy which prioritizes the inputs used in measuring fair value. The hierarchy gives the highest priority to unadjusted quoted price in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). These tiers include: · Level 1, defined as observable inputs such as quoted prices for · Level 2, defined as inputs other than quoted prices in active markets that are for for are and · Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to are 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. We measure our investment in marketable securities at fair value on a recurring basis. The Company’s trading securities are valued using inputs observable in active markets and are therefore classified as Level 1 within the fair value hierarchy. Investments and derivative liabilities are valued on a recurring basis. The following summarizes the fair value of assets and liabilities measured on a recurring basis: Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis June 30, 2022 Level 1 Level 2 Level 3 Total Assets Investments $ — $ — $ — $ — Liabilities Derivative liability — — 1,724,145 1,724,145 December 31, 2021 Level 1 Level 2 Level 3 Total Assets Investments $ — $ — $ — $ — Liabilities Derivative liability — — 2,328,234 2,328,234 Stock- Based Compensation Stock-based compensation is computed in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 718. FASB ASC 718 requires all share-based payments to employees and non- employees be recognized as compensation expense in the consolidated financial statements based on their fair values. The expense is recognized over the period during which an employee is required to provide services in exchange for the award, known as the requisite service period (usually the vesting period). As of June 30, 2022, the Company has not adopted a Stock Option Plan and has not issued any options. Property, Plant and Equipment Fixed assets are carried at cost. Depreciation is computed using the straight-line method of depreciation over the assets’ estimated useful lives. Maintenance and repairs are charged to expense as incurred; major renewals and improvements are capitalized. When items of fixed assets are sold or retired, the related cost and accumulated depreciation are removed from the accounts and any gain or loss is included in income. Income Taxes The provision for income taxes is the total of the current taxes payable and the net of the change in the deferred income taxes. Provision is made for the deferred income taxes where differences exist between the period in which transactions affect current taxable income and the period in which they enter into the determination of net income in the financial statements. Revenue Recognition Effective January 2018, revenue Codification 2014- 09, Revenue from Contracts 606), revenue 605, Revenue and most revenue the Codification. The revenue depict for goods The for revenues and The annual 15, 2017, and modified January 2018. Under the new revenue standards, the Company recognizes revenues when its customer obtains control of promised goods or services, in an amount that reflects the consideration which it expects to receive in exchange for those goods. The Company recognizes revenues following the five-step model prescribed under ASU No. 2014-09: (i) identify contract(s) with a customer; (ii) identify the performance obligations in the contract; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligations in the contract; and (v) recognize revenues when (or as) we satisfy the performance obligation. The Company recognized revenue from the sale of services at the time in which the services are delivered pursuant to the contract. The Company had $ 427,761 0 Other Comprehensive Income (Loss) Other comprehensive income (loss) includes foreign currency translation gains and losses. The cumulative amount of translation gains and losses are reflected as a separate component of stockholders’ equity (deficit) in the consolidated balance sheets, as accumulated other comprehensive income. Reclassification Certain reclassifications have been made to the prior year financial statements to conform to the current year presentation primarily the change to the Company’s par value being reflected retroactively and to reclassify related party convertible debt. |
GOING CONCERN AND MANAGEMENT_S
GOING CONCERN AND MANAGEMENT’S LIQUIDITY PLANS | 6 Months Ended |
Jun. 30, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
GOING CONCERN AND MANAGEMENT’S LIQUIDITY PLANS | NOTE 2. GOING CONCERN AND MANAGEMENT’S LIQUIDITY PLANS The and had net year 31, 2021 and , 2022. These doubt the for financial are and while develops model. The management’s and additional There profitable The any |
RECENTLY ISSUED ACCOUNTING STAN
RECENTLY ISSUED ACCOUNTING STANDARDS | 6 Months Ended |
Jun. 30, 2022 | |
Recently Issued Accounting Standards | |
RECENTLY ISSUED ACCOUNTING STANDARDS | NOTE 3. RECENTLY ISSUED ACCOUNTING STANDARDS Management does not believe that any recently issued but not yet adopted accounting will have a material effect on the Company’s results of operation or on the reported amounted of its assets and liabilities upon adoption. In August 2020, the FASB issued ASU 2020-06, Debt - Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging - Contracts in Entity's Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity's Own Equity). |
STOCKHOLDERS_ EQUITY (DEFICIT)
STOCKHOLDERS’ EQUITY (DEFICIT) | 6 Months Ended |
Jun. 30, 2022 | |
Equity [Abstract] | |
STOCKHOLDERS’ EQUITY (DEFICIT) | NOTE 4. STOCKHOLDERS’ EQUITY (DEFICIT) Preferred Stock The Company has authorized 50,000,000 30,000,000 30,000,000 205,000 Holders of Series A Convertible Preferred Stock hold rights to vote on all matter requiring a shareholder vote at 100 common shares vote equivalent for each share of Series A Convertible Preferred Stock held. As of the date of this filing, our CEO, CFO, board chair and sole director, Julia Otey-Raudes, is the sole holder of the 30,000,000 The Series C Convertible Preferred Stock, with 1,000,000 0.001 On July 15, 2021, the Company designated 1,000,000 10 22 Beginning 180 days from issuance, the Series C Convertible Preferred Stock may be converted into common stock at a price based on 63% of the average of the two lowest trading prices during the 15 days prior to conversion. The Company may redeem the Series C Convertible Preferred Stock during the first 180 days from issuance, subject to early redemption penalties of up to 35%. The Series C Convertible Preferred Stock must be redeemed by the Company 12 months following issuance if not previously redeemed or converted. Based on the terms of the Series C Convertible Preferred Stock, the Company determined that the preferred stock is mandatorily redeemable and will be accounted for as a liability under ASC 480. During the six months ended June 30, 2022, the Company entered into purchase agreements for the sale of 166,250 3,084 156,685 9,565 11,063 153,892,604 Common Stock The has 5,000,000,000 shares $0.0001 par common stock On June 8, 2022, following approval by the Company’s Board of Directors and a majority of the outstanding voting stock of the Company, the Company filed Fourth Amended and Restated Articles of Incorporation with the State of Nevada reflecting an increase in the Company’s authorized common stock from 2,000,000,000 0.0001 5,000,000,000 0.0001 During the six months ended June 30, 2022, 115,369,190 238,632 During the quarter ended June 30, 2022, $221,250 of Series C Convertible Preferred Stock and accrued dividends of $11,063 were converted into 153,892,604 |
ACQUISITION
ACQUISITION | 6 Months Ended |
Jun. 30, 2022 | |
Business Combination and Asset Acquisition [Abstract] | |
ACQUISITION | NOTE 5. ACQUISITION Asset Purchase Agreement On October 4, 2021, Eco Innovation Group, Inc. (the "Company") entered into an asset purchase agreement (the “Asset Purchase Agreement”) with Spruce Construction, Inc., an Alberta Business Corporation (“Spruce Construction”) and Timothy Boetzkes ("Boetzkes"), a resident of the Province of Alberta, Canada and the sole shareholder of Spruce Construction, pursuant to which, the Company, Boetzkes and Spruce Construction agreed to effect an asset purchase agreement for existing construction equipment and form a new Canadian engineering and construction company in Canada. The Company entered into the Asset Purchase Agreement for the purpose of launching a green construction division in Alberta, Canada. Under the Asset Purchase Agreement, the Company agreed to pay Boetzkes one million shares of the Company’s restricted common stock and approximately $ 104,000 85 10 5 The closing of the Asset Purchase Agreement was subject to the satisfaction or waiver of customary conditions to closing, as disclosed in the term sheet for the project disclosed by the Company and filed as Exhibit 10.1 in the Company’s Current Report on Form 8-K filed by the Company with the Securities and Exchange Commission on August 11, 2021. The Company is accounting for the acquisition as a business combination under the guidance of ASC805. On April 21, 2022, the Company entered into an amendment number one to the Asset Purchase Agreement with Boetzkes and Spruce Construction, to extend the due date for business reimbursement payments in the amount of approximately $ 56,000 Lock-Up Leak-Out Agreement On October 4, 2021, in connection with the Asset Purchase Agreement, Boetzkes entered into a Lock-Up and Leak-Out Agreement with the Company pursuant to which, among other thing, such shareholder agreed to certain restrictions regarding the resale of the common stock issued pursuant to the Asset Purchase Agreement for a period of six months from the date of the Asset Purchase Agreement, as more fully detailed therein. Shareholders Agreement On October 4, 2021, in connection with the Asset Purchase Agreement, the Company entered into a shareholders agreement (the “Shareholders Agreement”) with Timothy Boetzkes and Patrick Laurie. Under the Shareholders Agreement, Patrick Laurie agreed to serve as the Chief Executive Officer and Timothy Boetzkes agreed to serve as the Chief Operating Officer of Spruce Engineering & Construction Inc. The Shareholders Agreement provides for certain terms of governance, restrictive covenants including confidentiality and noncompetition, and transfer restrictions on the parties’ equity with regards to Spruce Engineering & Construction Inc. Employment Agreements On October 4, 2021, in connection with the Asset Purchase Agreement, Spruce Engineering & Construction Inc., of which the Company is the 85% voting equity holder, entered into employment agreements (the “Employment Agreements”) with Timothy Boetzkes and Patrick Laurie, pursuant to which Patrick Laurie shall serve as the Chief Executive Officer and Timothy Boetzkes shall serve as the Chief Operating Officer of Spruce Engineering & Construction Inc. Ancillary to the Employment Agreements, Boetzkes and Laurie also entered into restricted stock award agreements governing their minority equity stakes in Spruce Engineering & Construction Inc., which provide for a repurchase option allowing Spruce Engineering & Construction Inc. to clawback equity in the event of the employees’ for-cause termination. The acquisition of Spruce Construction is being accounted for as a business combination under ASC 805. The Company is continuing to gather evidence to evaluate what identifiable intangible assets were acquired, such as a customer list, and the fair value of each, and expects to finalize the fair value of the acquired assets within one year of the acquisition date. The aggregate preliminary fair value of consideration for the Spruce Construction acquisition was as follows: Schedule of preliminary Fair value Acquisition Amount Notes payable issued to seller 103,689 1,000,000 shares of common stock 23,000 Noncontrolling interest 22,000 Total preliminary consideration transferred $ 148,698 During the six months ended June 30, 2022, the Company has paid $0 against the note payable due on October 3, 2022. The following information summarizes the preliminary allocation of the fair values assigned to the assets acquired and liabilities assumed at the acquisition date: Schedule Of Recognized Identified Assets Acquired And Liabilities Accounts Receivable $ 30,577 Trucks 41,974 Goodwill 103,188 Vehicle Note Payable (27,041 ) Net assets acquired $ 148,698 As a result of the acquisition, The Company recognized goodwill of $ 103,188 22,000 15 |
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS | 6 Months Ended |
Jun. 30, 2022 | |
Related Party Transactions [Abstract] | |
RELATED PARTY TRANSACTIONS | NOTE 6. RELATED PARTY TRANSACTIONS Accrued officer compensation as of 30, 2022 2021 427,050 and $ 381,800 |
CONVERTIBLE NOTES
CONVERTIBLE NOTES | 6 Months Ended |
Jun. 30, 2022 | |
Debt Disclosure [Abstract] | |
CONVERTIBLE NOTES | NOTE 7. CONVERTIBLE NOTES Convertible Notes Payable On March 22, 2021, the Company entered into a convertible promissory note agreement with Claudia Villalta for the issuance of a convertible promissory note with a principal balance of $ 30,000 10 0.06 500,000 On June 4, 2021, the Company entered into a securities purchase agreement (the “Labrys SPA”) with Labrys Fund, LP (“Labrys”), pursuant to which the Company issued a 12% promissory note (the “Labrys Note”) with a maturity date of June 3, 2022 (the “Labrys Maturity Date”), in the principal sum of $1,000,000. Pursuant to the terms of the Labrys Note, the Company agreed to pay to $225,000 (the “Principal Sum”) to Labrys and to pay interest on the principal balance at the rate of 12% per annum. The Labrys Note carries an original issue discount (“OID”) of $22,500. Accordingly, on the Closing Date (as defined in the Labrys SPA), Labrys paid the purchase price of $202,500 in exchange for the Labrys Note. Labrys may convert the Labrys Note into the Company’s common stock (subject to the beneficial ownership limitations of 4.99% in the Labrys Note) at any time at a fixed conversion price equal to $0.023 per share but can be reset if the Company issues instruments at a lower price. The Company paid $14,650 of deferred financing costs which are amortized through the maturity date of the note. 77,000 148,000 On August 23, 2021, the Company entered into a securities purchase agreement (the “Blue Lake SPA”) with Blue Lake Partners, LLC (“Blue Lake”), pursuant to which the Company issued a 12 150,000 150,000 12 15,000 9,450 125,500 4.99 0.02 The Company may prepay the Blue Lake Note at any time prior to the date that an Event of Default (as defined in the Blue Lake Note) occurs at an amount equal to 100% of the Principal Sum then outstanding plus accrued and unpaid interest (no prepayment premium) plus $ 7,530 Upon the occurrence of any Event of Default, the Blue Lake Note shall become immediately due and payable and the Company shall pay to Blue Lake, in full satisfaction of its obligations hereunder, an amount equal to the Principal Sum then outstanding plus accrued interest multiplied by 125% (the “Default Amount”). Upon the occurrence of an Event of Default, additional interest will accrue from the date of the Event of Default at the rate equal to the lower of 16% per annum or the highest rate permitted by law. The Blue Lake Note requires that the Company reserve from its authorized and unissued common stock a number of shares equal to the greater of: (a) 11,250,000 The Blue Lake SPA and the Blue Lake Note contain covenants and restrictions common with this type of debt transaction. Furthermore, the Company are subject to certain negative covenants under the Blue Lake SPA and the Blue Lake Note, which we believe are customary for transactions of this type. At June 30, 2022, we were in compliance with all covenants and restrictions. In conjunction with the issuance of the Blue Lake Note, the Company issued a five year warrant exercisable for 6,000,000 0.025 On August 23, 2021, the Company entered into a securities purchase agreement (the “Coventry SPA”) with Coventry Enterprises, LLC (“Coventry”), pursuant to which the Company issued a 10 150,000 150,000 10 30,000 7,200 112,800 4.99 23,571 In conjunction with the issuance of the Coventry Note, the Company issued 10,000,000 30,000 Convertible notes payable are comprised of the following: Schedule of convertible notes payable June 30, December 31, 2022 2021 Convertible note payable – Claudia Magdalena Villalta $ 30,000 $ 30,000 Convertible note payable – Labrys $ — $ 148,000 Convertible notes payable- Blue Lake Holdings $ 79,590 $ 150,000 Convertible note payable – Coventry $ 150,000 $ — Total $ 259,590 $ 328,000 Less debt discounts $ (79,977 ) $ (198,781 ) Net $ 179,613 $ 129,219 Less current portion $ (179,613 ) $ (129,219 ) Long term portion $ — $ — As of June 30, 2022, there were 1,118,265,306 As of June 30, 2022 and December 31, 2021, unamortized debt discount was $ 79,977 198,781 186,004 34,159 Convertible Notes Payable – Related Parties On March 1, 2016, $ 4,902 These are 50,000,000 common stock. These are 14, 2019, common stock. 2,451 25,000,000 2,451 25,000,000 18,500,000 On December 9, 2019, the Company executed a convertible note with Pinnacle Consulting Services Inc.(“Pinnacle”), which is owned by Robert Hymers, for $ 40,000 June 9, 2020 5 shares common stock 35% common On June 30, 2020, for $ 21,000 30, 2021. This 10 % annum and option of and shares common stock that 35% of common stock for On October 19 , 2021, for $ 180,000 , 2022. This 10 annum and option of and shares common stock that 0.0075 On March 2 3, 2022, for $ 55,000 , 2022. This 10 annum and option of and shares common stock that 0.000098 55,000 0.000098 0.002 On March 25 , 2022, for $ 23,000 , 2022. This 10 annum and option of and shares common stock that 0.000098 5,000 Convertible notes payable – related parties are comprised of the following: Schedule of convertible notes payable June 30, December 31, 2022 2021 Convertible notes payable – Pinnacle Consulting Services $ 241,000 $ 241,000 Convertible notes payable – Robert Hymers $ 63,153 $ 4,875 Convertible notes payable- Alma Otey $ 18,000 $ — Total $ 322,153 $ 245,875 Less debt discounts $ (24,714 ) $ (107,802 ) Net $ 297,439 $ 138,073 Less current portion $ (297,439 ) $ (138,073 ) Long term portion $ — $ — As of June 30, 2022, there were 361,481,161 As of June 30, 2022 and December 31, 2021, unamortized debt discount was $ 24,714 107,802 197,081 13,494 Derivative liabilities The options above 815 40, and Own Stock. option and for as During the quarter ended June 30, 2022, the fair value of new derivative liabilities on the new issuance of debt amounted to $ 103,993 103,993 664,902 The Black Scholes valuation model included inputs of volatility of between 209% and 625%, a dividend yield of 0%, risk free rate of 0.28%-3.01% and a term of between 0.5 years and 4.5 years. The table below presents the change in the fair value of the derivative liability: Schedule Of Derivative Liabilities At Fair Value Fair Value as of January 1, 2022 $ 2,328,234 Initial recognition of derivative added as debt discount 317,631 Settlement of derivative liability as a result of payment on convertible notes (6,108 ) Settlement of derivative liability as a result of conversion of convertible notes (460,003 ) Settlement of derivative liability as a result of extinguishment of convertible notes (1,126,619 ) Loss on change in fair value 671,010 Fair Value as of June 30, 2022 1,724,145 |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 6 Months Ended |
Jun. 30, 2022 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | NOTE 8. SUBSEQUENT EVENTS On July 5, 2022, the Company issued 23,958,333 21,000 11,500 0.00048 On July 15, 2022, the Company issued 38,750 35,000 205,500 On July 28, 2022, the Company issued 22,936,530 21,000 13,761 0.0006 |
NATURE OF OPERATIONS (Policies)
NATURE OF OPERATIONS (Policies) | 6 Months Ended |
Jun. 30, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of Presentation | Basis of Presentation The has financial United |
Use of Estimates | Use of Estimates The United requires and and and and and revenue and differ |
Cash and Cash Equivalents | Cash and Cash Equivalents The Company considers all highly liquid investments with original maturities of three months or less as cash equivalents. As of June 30, 2022, December 31, 2021, and December 31, 2020, the Company had no |
Earnings per share | Earnings per share Basic Earnings Per Share (EPS) common common shares for options common stock were |
Long-Lived Assets | Long-Lived Assets The Company’s long-lived assets, including intangibles, are reviewed for impairment whenever events or changes in circumstances indicate that the historical cost carrying value of an asset may no longer be appropriate. The Company assesses recoverability of the asset by comparing the undiscounted future net cash flows expected to result from the asset to its carrying value. If the carrying value exceeds the undiscounted future net cash flows of the asset, an impairment loss is measured and recognized. An impairment loss is measured as the difference between the net book value and the fair value of the long-lived asset. During the quarter ended June 30, 2022, and the years ended December 31, 2021 and 2020, the Company evaluated long lived assets for impairment determined no |
Derivative Financial Instruments | Derivative Financial Instruments The Company does not use derivative instruments to hedge exposures to cash flow, market or foreign currency risks. The Company evaluates its financial instruments to determine if such instruments are derivatives or contain features that qualify as embedded derivatives. For derivative financial instruments that are accounted for as liabilities, the derivative instrument is initially recorded at its fair value and is then re-valued at each reporting date, with changes in the fair value reported in the statements of operations. The Company used a Black Scholes valuation model to value the derivative instruments at inception and on subsequent valuation dates. The classification of derivative instruments, including whether such instruments should be recorded as liabilities or as equity, is evaluated at the end of each reporting period. Derivative liabilities are classified in the balance sheet as current or non-current based on whether or not net-cash settlement or conversion of the instrument could be required within 12 months of the balance sheet date. |
Fair Value Measurements | Fair Value Measurements Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. ASC Topic 820 establishes a three-tier fair value hierarchy which prioritizes the inputs used in measuring fair value. The hierarchy gives the highest priority to unadjusted quoted price in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). These tiers include: · Level 1, defined as observable inputs such as quoted prices for · Level 2, defined as inputs other than quoted prices in active markets that are for for are and · Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to are 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. We measure our investment in marketable securities at fair value on a recurring basis. The Company’s trading securities are valued using inputs observable in active markets and are therefore classified as Level 1 within the fair value hierarchy. Investments and derivative liabilities are valued on a recurring basis. The following summarizes the fair value of assets and liabilities measured on a recurring basis: Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis June 30, 2022 Level 1 Level 2 Level 3 Total Assets Investments $ — $ — $ — $ — Liabilities Derivative liability — — 1,724,145 1,724,145 December 31, 2021 Level 1 Level 2 Level 3 Total Assets Investments $ — $ — $ — $ — Liabilities Derivative liability — — 2,328,234 2,328,234 |
Stock- Based Compensation | Stock- Based Compensation Stock-based compensation is computed in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 718. FASB ASC 718 requires all share-based payments to employees and non- employees be recognized as compensation expense in the consolidated financial statements based on their fair values. The expense is recognized over the period during which an employee is required to provide services in exchange for the award, known as the requisite service period (usually the vesting period). As of June 30, 2022, the Company has not adopted a Stock Option Plan and has not issued any options. |
Property, Plant and Equipment | Property, Plant and Equipment Fixed assets are carried at cost. Depreciation is computed using the straight-line method of depreciation over the assets’ estimated useful lives. Maintenance and repairs are charged to expense as incurred; major renewals and improvements are capitalized. When items of fixed assets are sold or retired, the related cost and accumulated depreciation are removed from the accounts and any gain or loss is included in income. |
Income Taxes | Income Taxes The provision for income taxes is the total of the current taxes payable and the net of the change in the deferred income taxes. Provision is made for the deferred income taxes where differences exist between the period in which transactions affect current taxable income and the period in which they enter into the determination of net income in the financial statements. |
Revenue Recognition | Revenue Recognition Effective January 2018, revenue Codification 2014- 09, Revenue from Contracts 606), revenue 605, Revenue and most revenue the Codification. The revenue depict for goods The for revenues and The annual 15, 2017, and modified January 2018. Under the new revenue standards, the Company recognizes revenues when its customer obtains control of promised goods or services, in an amount that reflects the consideration which it expects to receive in exchange for those goods. The Company recognizes revenues following the five-step model prescribed under ASU No. 2014-09: (i) identify contract(s) with a customer; (ii) identify the performance obligations in the contract; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligations in the contract; and (v) recognize revenues when (or as) we satisfy the performance obligation. The Company recognized revenue from the sale of services at the time in which the services are delivered pursuant to the contract. The Company had $ 427,761 0 |
Other Comprehensive Income (Loss) | Other Comprehensive Income (Loss) Other comprehensive income (loss) includes foreign currency translation gains and losses. The cumulative amount of translation gains and losses are reflected as a separate component of stockholders’ equity (deficit) in the consolidated balance sheets, as accumulated other comprehensive income. |
Reclassification | Reclassification Certain reclassifications have been made to the prior year financial statements to conform to the current year presentation primarily the change to the Company’s par value being reflected retroactively and to reclassify related party convertible debt. |
NATURE OF OPERATIONS (Tables)
NATURE OF OPERATIONS (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis | Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis June 30, 2022 Level 1 Level 2 Level 3 Total Assets Investments $ — $ — $ — $ — Liabilities Derivative liability — — 1,724,145 1,724,145 December 31, 2021 Level 1 Level 2 Level 3 Total Assets Investments $ — $ — $ — $ — Liabilities Derivative liability — — 2,328,234 2,328,234 |
ACQUISITION (Tables)
ACQUISITION (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Business Combination and Asset Acquisition [Abstract] | |
Schedule of preliminary Fair value Acquisition | Schedule of preliminary Fair value Acquisition Amount Notes payable issued to seller 103,689 1,000,000 shares of common stock 23,000 Noncontrolling interest 22,000 Total preliminary consideration transferred $ 148,698 |
Schedule Of Recognized Identified Assets Acquired And Liabilities | Schedule Of Recognized Identified Assets Acquired And Liabilities Accounts Receivable $ 30,577 Trucks 41,974 Goodwill 103,188 Vehicle Note Payable (27,041 ) Net assets acquired $ 148,698 |
CONVERTIBLE NOTES (Tables)
CONVERTIBLE NOTES (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Debt Disclosure [Abstract] | |
Schedule of convertible notes payable | Schedule of convertible notes payable June 30, December 31, 2022 2021 Convertible note payable – Claudia Magdalena Villalta $ 30,000 $ 30,000 Convertible note payable – Labrys $ — $ 148,000 Convertible notes payable- Blue Lake Holdings $ 79,590 $ 150,000 Convertible note payable – Coventry $ 150,000 $ — Total $ 259,590 $ 328,000 Less debt discounts $ (79,977 ) $ (198,781 ) Net $ 179,613 $ 129,219 Less current portion $ (179,613 ) $ (129,219 ) Long term portion $ — $ — |
Schedule of convertible notes payable | Schedule of convertible notes payable June 30, December 31, 2022 2021 Convertible notes payable – Pinnacle Consulting Services $ 241,000 $ 241,000 Convertible notes payable – Robert Hymers $ 63,153 $ 4,875 Convertible notes payable- Alma Otey $ 18,000 $ — Total $ 322,153 $ 245,875 Less debt discounts $ (24,714 ) $ (107,802 ) Net $ 297,439 $ 138,073 Less current portion $ (297,439 ) $ (138,073 ) Long term portion $ — $ — |
Schedule Of Derivative Liabilities At Fair Value | Schedule Of Derivative Liabilities At Fair Value Fair Value as of January 1, 2022 $ 2,328,234 Initial recognition of derivative added as debt discount 317,631 Settlement of derivative liability as a result of payment on convertible notes (6,108 ) Settlement of derivative liability as a result of conversion of convertible notes (460,003 ) Settlement of derivative liability as a result of extinguishment of convertible notes (1,126,619 ) Loss on change in fair value 671,010 Fair Value as of June 30, 2022 1,724,145 |
NATURE OF OPERATIONS (Details)
NATURE OF OPERATIONS (Details) - USD ($) | Jun. 30, 2022 | Dec. 31, 2021 |
Defined Benefit Plan Disclosure [Line Items] | ||
Investments | ||
Derivative liability | 1,724,145 | 2,328,234 |
Fair Value, Inputs, Level 1 [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Investments | ||
Derivative liability | ||
Fair Value, Inputs, Level 2 [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Investments | ||
Derivative liability | ||
Fair Value, Inputs, Level 3 [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Investments | ||
Derivative liability | $ 1,724,145 | $ 2,328,234 |
NATURE OF OPERATIONS (Details N
NATURE OF OPERATIONS (Details Narrative) - USD ($) | 1 Months Ended | 6 Months Ended | |||||||||||
Jul. 01, 2018 | Feb. 28, 2020 | Jun. 30, 2022 | Jun. 09, 2022 | Jun. 08, 2022 | Apr. 02, 2022 | Dec. 31, 2021 | Dec. 21, 2021 | Oct. 04, 2021 | Aug. 06, 2021 | Jul. 15, 2021 | Jun. 30, 2021 | Feb. 20, 2020 | |
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||||||||
Entity Incorporation, State or Country Code | NV | ||||||||||||
Entity Incorporation, Date of Incorporation | Mar. 05, 2001 | ||||||||||||
Reverse split | 1:1,000 | ||||||||||||
Preferred stock, shares outstanding | 30,000,000 | 30,000,000 | |||||||||||
Voting interest percentage | 94% | ||||||||||||
Common stock, shares authorized | 5,000,000,000 | 5,000,000,000 | 2,000,000,000 | 2,000,000,000 | 5,000,000,000 | 1,000,000,000 | 500,000,000 | ||||||
Common stock, par value | $ 0.0001 | $ 0.0001 | $ 0.0001 | $ 0.0001 | $ 0.0001 | $ 0.001 | $ 0.001 | ||||||
Preferred stock, shares authorized | 50,000,000 | 50,000,000 | |||||||||||
Preferred stock, shares issued | 30,000,000 | 30,000,000 | |||||||||||
Cash FDIC Amount | $ 0 | $ 0 | |||||||||||
Impairment of intangible assets | 0 | ||||||||||||
Deferred revenue | $ 427,761 | $ 0 | |||||||||||
Spruce Engineering Construction [Member] | |||||||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||||||||
Ownership interest | 85% | ||||||||||||
Boetzkes [Member] | |||||||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||||||||
Ownership interest | 10% | ||||||||||||
Patrick Laurie [Member] | |||||||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||||||||
Ownership interest | 5% | ||||||||||||
Series A Preferred Stock [Member] | Julia Otey Raudes [Member] | |||||||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||||||||
Preferred stock, shares outstanding | 30,000,000 | ||||||||||||
Series A Preferred Stock [Member] | Julie Otey-Raudes [Member] | |||||||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||||||||
Preferred stock, shares outstanding | 30,000,000 | ||||||||||||
Series A Convertible Preferred Stock [Member] | |||||||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||||||||
Preferred stock, shares outstanding | 30,000,000 | ||||||||||||
Preferred stock, shares authorized | 30,000,000 | ||||||||||||
Preferred stock, shares issued | 30,000,000 | ||||||||||||
Series A Convertible Preferred Stock [Member] | Julie Otey-Raudes [Member] | |||||||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||||||||
Preferred stock, shares outstanding | 30,000,000 | ||||||||||||
Series C Convertible Preferred Stock [Member] | |||||||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||||||||
Preferred stock, shares outstanding | 205,000 | 167,500 | |||||||||||
Common stock, par value | $ 0.001 | ||||||||||||
Preferred stock, shares authorized | 1,000,000 | 1,000,000 | |||||||||||
Preferred stock, shares issued | 205,000 | 167,500 |
STOCKHOLDERS_ EQUITY (DEFICIT)
STOCKHOLDERS’ EQUITY (DEFICIT) (Details Narrative) - USD ($) | 3 Months Ended | 6 Months Ended | ||||||||
Jul. 15, 2021 | Jun. 30, 2022 | Jun. 30, 2022 | Jun. 09, 2022 | Jun. 08, 2022 | Apr. 02, 2022 | Dec. 31, 2021 | Dec. 21, 2021 | Aug. 06, 2021 | Feb. 20, 2020 | |
Class of Stock [Line Items] | ||||||||||
Preferred stock, shares authorized | 50,000,000 | 50,000,000 | 50,000,000 | |||||||
Preferred stock, shares issued | 30,000,000 | 30,000,000 | 30,000,000 | |||||||
Preferred stock, shares outstanding | 30,000,000 | 30,000,000 | 30,000,000 | |||||||
Common stock, par value | $ 0.0001 | $ 0.0001 | $ 0.0001 | $ 0.0001 | $ 0.0001 | $ 0.0001 | $ 0.001 | $ 0.001 | ||
Accrued dividends interest expense | $ 3,084 | $ 3,084 | ||||||||
Carrying value | 156,685 | 156,685 | ||||||||
Net unamortized discount value | $ 9,565 | $ 9,565 | ||||||||
Common stock, shares authorized | 5,000,000,000 | 5,000,000,000 | 5,000,000,000 | 2,000,000,000 | 2,000,000,000 | 5,000,000,000 | 1,000,000,000 | 500,000,000 | ||
Common Stock [Member] | ||||||||||
Class of Stock [Line Items] | ||||||||||
common stock were issued | 115,369,190 | |||||||||
Common stock issued for conversion of Series C preferred, shares | 153,892,604 | |||||||||
Total Equity Of Eco Innovation [Member] | ||||||||||
Class of Stock [Line Items] | ||||||||||
common stock were issued | $ 238,632 | |||||||||
Series A Convertible Preferred Stock [Member] | ||||||||||
Class of Stock [Line Items] | ||||||||||
Preferred stock, shares authorized | 30,000,000 | 30,000,000 | ||||||||
Preferred stock, shares issued | 30,000,000 | 30,000,000 | ||||||||
Preferred stock, shares outstanding | 30,000,000 | 30,000,000 | ||||||||
Series A Convertible Preferred Stock [Member] | Julie Otey-Raudes [Member] | ||||||||||
Class of Stock [Line Items] | ||||||||||
Preferred stock, shares outstanding | 30,000,000 | 30,000,000 | ||||||||
Series C Convertible Preferred Stock [Member] | ||||||||||
Class of Stock [Line Items] | ||||||||||
Preferred stock, shares authorized | 1,000,000 | 1,000,000 | 1,000,000 | |||||||
Preferred stock, shares issued | 205,000 | 205,000 | 167,500 | |||||||
Preferred stock, shares outstanding | 205,000 | 205,000 | 167,500 | |||||||
Common stock, par value | $ 0.001 | $ 0.001 | ||||||||
Dividend rate | 10% | |||||||||
Increased dividend rate | 22% | |||||||||
Convertible preferred stock, description | Beginning 180 days from issuance, the Series C Convertible Preferred Stock may be converted into common stock at a price based on 63% of the average of the two lowest trading prices during the 15 days prior to conversion. The Company may redeem the Series C Convertible Preferred Stock during the first 180 days from issuance, subject to early redemption penalties of up to 35%. The Series C Convertible Preferred Stock must be redeemed by the Company 12 months following issuance if not previously redeemed or converted. Based on the terms of the Series C Convertible Preferred Stock, the Company determined that the preferred stock is mandatorily redeemable and will be accounted for as a liability under ASC 480. | |||||||||
Sale of purchase agreements | 166,250 | |||||||||
Accrued dividends interest expense | $ 11,063 | $ 11,063 | ||||||||
Number of shares issued | 153,892,604 | |||||||||
Series A Preferred Stock [Member] | Julie Otey-Raudes [Member] | ||||||||||
Class of Stock [Line Items] | ||||||||||
Preferred stock, shares outstanding | 30,000,000 | 30,000,000 |
ACQUISITION (Details)
ACQUISITION (Details) | 6 Months Ended |
Jun. 30, 2022 USD ($) | |
Business Combination and Asset Acquisition [Abstract] | |
Notes payable issued to seller | $ 103,689 |
1,000,000 shares of common stock | 23,000 |
Noncontrolling interest | 22,000 |
Total preliminary consideration transferred | $ 148,698 |
ACQUISITION (Details 1)
ACQUISITION (Details 1) - USD ($) | Jun. 30, 2022 | Dec. 31, 2021 |
Business Combination and Asset Acquisition [Abstract] | ||
Accounts Receivable | $ 30,577 | |
Trucks | 41,974 | |
Goodwill | 103,188 | $ 103,188 |
Vehicle Note Payable | (27,041) | |
Net assets acquired | $ 148,698 |
ACQUISITION (Details Narrative)
ACQUISITION (Details Narrative) - USD ($) | 1 Months Ended | 6 Months Ended | ||
Oct. 04, 2021 | Apr. 21, 2022 | Jun. 30, 2022 | Dec. 31, 2021 | |
Business Acquisition [Line Items] | ||||
Restricted common stock | $ 104,000 | |||
Goodwill | $ 103,188 | $ 103,188 | ||
Acquisition interest | 15% | |||
Noncontrolling Interest [Member] | ||||
Business Acquisition [Line Items] | ||||
Common stock issued for acquisition of business | $ 22,000 | |||
Asset Purchase Agreement [Member] | ||||
Business Acquisition [Line Items] | ||||
Business reimbursement payments | $ 56,000 | |||
Spruce Engineering Construction [Member] | ||||
Business Acquisition [Line Items] | ||||
Ownership interest | 85% | |||
Boetzkes [Member] | ||||
Business Acquisition [Line Items] | ||||
Ownership interest | 10% | |||
Patrick Laurie [Member] | ||||
Business Acquisition [Line Items] | ||||
Ownership interest | 5% |
RELATED PARTY TRANSACTIONS (Det
RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2022 | Dec. 31, 2021 | |
Chief Executive Officer [Member] | ||
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | ||
Accrued officer compensation | $ 427,050 | $ 381,800 |
CONVERTIBLE NOTES (Details)
CONVERTIBLE NOTES (Details) - USD ($) | Jun. 30, 2022 | Dec. 31, 2021 |
Debt Instrument [Line Items] | ||
Total convertible notes payable | $ 259,590 | $ 328,000 |
Less debt discounts | (79,977) | (198,781) |
Net | 179,613 | 129,219 |
Less current portion | (179,613) | (129,219) |
Long term portion | ||
Claudia Magdalena Villalta [Member] | ||
Debt Instrument [Line Items] | ||
Total convertible notes payable | 30,000 | 30,000 |
Labrys [Member] | ||
Debt Instrument [Line Items] | ||
Total convertible notes payable | 148,000 | |
Blue Lake Holdings [Member] | ||
Debt Instrument [Line Items] | ||
Total convertible notes payable | 79,590 | 150,000 |
Coventry [Member] | ||
Debt Instrument [Line Items] | ||
Total convertible notes payable | $ 150,000 |
CONVERTIBLE NOTES (Details 1)
CONVERTIBLE NOTES (Details 1) - USD ($) | Jun. 30, 2022 | Dec. 31, 2021 |
Debt Instrument [Line Items] | ||
Total convertible notes payable | $ 259,590 | $ 328,000 |
Total convertible notes payable | 322,153 | 245,875 |
Less debt discounts | (24,714) | (107,802) |
Net | 297,439 | 138,073 |
Less current portion | (297,439) | (138,073) |
Long term portion | ||
Pinnacle Consulting Services [Member] | ||
Debt Instrument [Line Items] | ||
Total convertible notes payable | 241,000 | 241,000 |
Robert Hymers [Member] | ||
Debt Instrument [Line Items] | ||
Total convertible notes payable | 63,153 | 4,875 |
Alma Otey [Member] | ||
Debt Instrument [Line Items] | ||
Total convertible notes payable | $ 18,000 |
CONVERTIBLE NOTES (Details 2)
CONVERTIBLE NOTES (Details 2) | 6 Months Ended |
Jun. 30, 2022 USD ($) | |
Debt Disclosure [Abstract] | |
Derivative liability at beginning | $ 2,328,234 |
Initial recognition of derivative added as debt discount | 317,631 |
Settlement of derivative liability as a result of payments | (6,108) |
Settlement of derivative liability as a result of conversion of convertible notes | (460,003) |
Settlement of derivative liability as a result of extinguishment of convertible notes | (1,126,619) |
Loss on change in fair value | 671,010 |
Derivative liability at ending | $ 1,724,145 |
CONVERTIBLE NOTES (Details Narr
CONVERTIBLE NOTES (Details Narrative) - USD ($) | 1 Months Ended | 6 Months Ended | 12 Months Ended | ||||||||||||
Jan. 10, 2022 | Jun. 04, 2021 | Dec. 09, 2019 | Mar. 01, 2016 | Mar. 25, 2022 | Mar. 23, 2022 | Oct. 19, 2021 | Aug. 23, 2021 | Mar. 22, 2021 | Jun. 30, 2020 | May 31, 2020 | Jun. 30, 2022 | Jun. 30, 2021 | Dec. 31, 2021 | Apr. 21, 2022 | |
Short-Term Debt [Line Items] | |||||||||||||||
Conversion price | $ 0.000098 | $ 0.000098 | $ 0.0075 | $ 0.000098 | |||||||||||
Valuation | the Company entered into a securities purchase agreement (the “Labrys SPA”) with Labrys Fund, LP (“Labrys”), pursuant to which the Company issued a 12% promissory note (the “Labrys Note”) with a maturity date of June 3, 2022 (the “Labrys Maturity Date”), in the principal sum of $1,000,000. Pursuant to the terms of the Labrys Note, the Company agreed to pay to $225,000 (the “Principal Sum”) to Labrys and to pay interest on the principal balance at the rate of 12% per annum. The Labrys Note carries an original issue discount (“OID”) of $22,500. Accordingly, on the Closing Date (as defined in the Labrys SPA), Labrys paid the purchase price of $202,500 in exchange for the Labrys Note. Labrys may convert the Labrys Note into the Company’s common stock (subject to the beneficial ownership limitations of 4.99% in the Labrys Note) at any time at a fixed conversion price equal to $0.023 per share but can be reset if the Company issues instruments at a lower price. The Company paid $14,650 of deferred financing costs which are amortized through the maturity date of the note. | ||||||||||||||
Monthly payments | $ 23,571 | $ 77,000 | |||||||||||||
Amortization of debt discount | $ 556,670 | $ 63,717 | |||||||||||||
Purchase price | 125,500 | ||||||||||||||
deferred financing costs | $ 30,000 | ||||||||||||||
Common stock issued for convertible notes payable | 1,118,265,306 | ||||||||||||||
Unamortized debt discount | $ 79,977 | 198,781 | |||||||||||||
Amortized debt discount | 186,004 | ||||||||||||||
Accrued interest | 34,159 | ||||||||||||||
Convertible notes | $ 4,902 | ||||||||||||||
Number of shares issued at conversion | 50,000,000 | ||||||||||||||
Payments made | $ 5,000 | ||||||||||||||
Common stock issued for convertible notes payable shares | 361,481,161 | ||||||||||||||
Debt discount | $ 103,993 | ||||||||||||||
Derivative liability | $ 1,724,145 | 2,328,234 | |||||||||||||
Measurement Input Expected Term 1 [Member] | |||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||
Valuation | The Black Scholes valuation model included inputs of volatility of between 209% and 625%, a dividend yield of 0%, risk free rate of 0.28%-3.01% and a term of between 0.5 years and 4.5 years. | ||||||||||||||
Derivative Liability 1 [Member] | |||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||
Derivative liability | $ 664,902 | ||||||||||||||
Derivative Financial Instruments, Liabilities [Member] | |||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||
Derivative liabilities | 103,993 | ||||||||||||||
Convertible Notes [Member] | |||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||
Unamortized debt discount | 24,714 | 107,802 | |||||||||||||
Amortized debt discount | 197,081 | ||||||||||||||
Accrued interest | $ 13,494 | ||||||||||||||
Robert Hymers [Member] | |||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||
Interest rate | 10% | ||||||||||||||
Conversion price | $ 0.002 | ||||||||||||||
Convertible notes | $ 55,000 | $ 2,451 | |||||||||||||
Number of shares issued at conversion | 25,000,000 | ||||||||||||||
Hymers [Member] | |||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||
Convertible notes | $ 55,000 | ||||||||||||||
Number of shares issued at conversion | 18,500,000 | ||||||||||||||
Pinnacle Consulting [Member] | |||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||
Interest rate | 10% | 10% | |||||||||||||
Convertible notes | $ 180,000 | $ 21,000 | |||||||||||||
Pinnacle Consulting [Member] | Convertible Notes [Member] | |||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||
Interest rate | 5% | ||||||||||||||
Convertible notes | $ 40,000 | ||||||||||||||
Debt Instrument, Maturity Date | Jun. 09, 2020 | ||||||||||||||
Alma Otey [Member] | |||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||
Interest rate | 10% | ||||||||||||||
Convertible notes | $ 23,000 | ||||||||||||||
Claudia Villalta [Member] | |||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||
Principal amount | $ 30,000 | ||||||||||||||
Interest rate | 10% | ||||||||||||||
Conversion price | $ 0.06 | ||||||||||||||
Stock Issued During Period, Value, Conversion of Convertible Securities | $ 500,000 | ||||||||||||||
Labrys [Member] | |||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||
Outstanding amount | $ 148,000 | ||||||||||||||
Blue Lake [Member] | |||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||
Principal amount | $ 150,000 | ||||||||||||||
Interest rate | 12% | ||||||||||||||
Conversion price | $ 0.02 | ||||||||||||||
Monthly payments | $ 150,000 | ||||||||||||||
Amortization of debt discount | 15,000 | ||||||||||||||
Legal fees | $ 9,450 | ||||||||||||||
Ownership percentage | 4.99% | ||||||||||||||
Administrative fees | $ 7,530 | ||||||||||||||
Number of shares issued | 11,250,000 | ||||||||||||||
Proceeds from warrant | $ 6,000,000 | ||||||||||||||
Warrant exercise price | $ 0.025 | ||||||||||||||
Blue Lake [Member] | Debt [Member] | |||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||
Interest rate | 12% | ||||||||||||||
Coventry [Member] | |||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||
Principal amount | $ 150,000 | ||||||||||||||
Interest rate | 10% | ||||||||||||||
Monthly payments | $ 150,000 | ||||||||||||||
Amortization of debt discount | 30,000 | ||||||||||||||
Legal fees | 7,200 | ||||||||||||||
Purchase price | $ 112,800 | ||||||||||||||
Ownership percentage | 4.99% | ||||||||||||||
Number of shares issued | 10,000,000 | ||||||||||||||
Coventry [Member] | Debt [Member] | |||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||
Interest rate | 10% | ||||||||||||||
John English [Member] | |||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||
Convertible notes | $ 2,451 | ||||||||||||||
Number of shares issued at conversion | 25,000,000 |
SUBSEQUENT EVENTS (Details Narr
SUBSEQUENT EVENTS (Details Narrative) - USD ($) | 3 Months Ended | ||||||||||
Jul. 28, 2022 | Jul. 15, 2022 | Jul. 05, 2022 | Mar. 31, 2022 | Mar. 31, 2021 | Jun. 30, 2022 | Apr. 21, 2022 | Mar. 25, 2022 | Mar. 23, 2022 | Dec. 31, 2021 | Oct. 19, 2021 | |
Subsequent Event [Line Items] | |||||||||||
Stock Issued During Period, Value, Other | $ 167,900 | $ 45,000 | |||||||||
Convertible price per share | $ 0.000098 | $ 0.000098 | $ 0.000098 | $ 0.0075 | |||||||
Common Stock, Shares, Outstanding | 598,090,355 | 196,912,036 | |||||||||
Subsequent Event [Member] | |||||||||||
Subsequent Event [Line Items] | |||||||||||
Number of shares issued | 22,936,530 | 23,958,333 | |||||||||
Stock Issued During Period, Value, Other | $ 21,000 | $ 21,000 | |||||||||
Convertible principal Amount | $ 13,761 | $ 11,500 | |||||||||
Convertible price per share | $ 0.0006 | $ 0.00048 | |||||||||
Subsequent Event [Member] | Series C Convertible Preferred Stock [Member] | |||||||||||
Subsequent Event [Line Items] | |||||||||||
Number of shares issued | 38,750 | ||||||||||
Stock Issued During Period, Value, Other | $ 35,000 | ||||||||||
Common Stock, Shares, Outstanding | 205,500 |