Cover
Cover - shares | 3 Months Ended | |
Mar. 31, 2021 | May 13, 2021 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Mar. 31, 2021 | |
Document Fiscal Period Focus | Q1 | |
Document Fiscal Year Focus | 2021 | |
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 Incorporation, State or Country Code | NV | |
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 | 175,015,483 |
CONSOLIDATED BALANCE SHEETS (Un
CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) | Mar. 31, 2021 | Dec. 31, 2020 |
Current Assets | ||
Cash and cash equivalents | $ 88,044 | $ 84 |
Prepaid expenses | 83,333 | 0 |
Total Current Assets | 171,377 | 84 |
Other Assets | ||
Intangible Asset | 1,050,000 | 1,050,000 |
Investment | 650,000 | 0 |
Deposits and other assets | 8,000 | 8,000 |
Total Other Assets | 1,708,000 | 1,058,000 |
Total Assets | 1,879,377 | 1,058,084 |
Current Liabilities | ||
Accounts Payable and accrued expenses | 564,809 | 223,866 |
Convertible Notes Payable | 156,693 | 50,122 |
Deferred Revenue | 181,525 | 181,525 |
Derivative liabilities | 118,729 | 92,183 |
Convertible Notes Payable Related party | 4,875 | 4,875 |
Related Party Loans | 15,000 | 15,000 |
Total Current Liabilities | 1,041,631 | 567,571 |
Total Liabilities | 1,041,631 | 567,571 |
Stockholders' Equity | ||
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 $0.001, authorized 500,000,000 shares, issued and outstanding 177,690,483 and 135,930,680 shares at March 31, 2021 and December 31, 2020, respectively | 177,690 | 139,931 |
Common shares to be issued, 0 and 5,000,000 as of March 31, 2021 and December 31, 2020, respectively | 0 | 20,000 |
Additional paid-in capital | 7,372,363 | 6,260,122 |
Accumulated deficit | (6,742,307) | (5,959,540) |
Total Stockholders' Equity (Deficit) | 837,746 | 490,513 |
TOTAL LIABILITIES and Stockholders' Equity (Deficit) | $ 1,879,377 | $ 1,058,084 |
CONSOLIDATED BALANCE SHEETS (_2
CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares | Mar. 31, 2021 | Dec. 31, 2020 |
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 | $ 0.001 | $ 0.001 |
Common stock, shares authorized | 500,000,000 | 500,000,000 |
Common stock, shares issued | 177,690,483 | 135,930,680 |
Common stock, shares outstanding | 177,690,483 | 135,930,680 |
Common stock to be issued, shares | 0 | 5,000,000 |
CONSOLIDATED STATEMENTS OF OPER
CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Income Statement [Abstract] | ||
Revenue | $ 0 | $ 0 |
Cost of Revenue | 0 | 0 |
Gross Profit | 0 | 0 |
Operating Expenses | ||
General and Administrative | 63,505 | 42,647 |
Development and Manufacture Expenses | 59 | 0 |
Executive Compensation | 275,000 | 0 |
Consulting Fee | 426,667 | 0 |
Total Operating Expense | 765,231 | 42,647 |
Operating Loss | (765,231) | (42,647) |
Other Income(Expenses) | ||
Derivative gain (loss) | 7,378 | 48,129 |
Interest expense | (24,914) | (20,549) |
Total Other Income (Loss) | (17,536) | 27,580 |
Net loss | $ (782,767) | $ (15,067) |
Basic & Diluted Loss per Common Shares | $ 0 | $ 0 |
Weighted Average Common Shares Outstanding | 158,498,817 | 54,830,680 |
CONSOLIDATED STATEMENTS OF CHAN
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS EQUITY (DEFICIT) (Unaudited) - USD ($) | Preferred Stock | Common Stock | Common Stock To be issued | Additional Paid-In Capital | Accumulated Deficit | Total |
Beginning balance, shares at Dec. 31, 2019 | 30,000,000 | 54,830,680 | ||||
Beginning balance, value at Dec. 31, 2019 | $ 30,000 | $ 54,831 | $ 1,897,521 | $ (2,062,802) | $ (80,450) | |
Net loss | (15,067) | (15,067) | ||||
Ending balance, shares at Mar. 31, 2020 | 30,000,000 | 54,830,680 | ||||
Ending balance, value at Mar. 31, 2020 | $ 30,000 | $ 54,831 | 1,897,521 | (2,077,869) | (95,517) | |
Beginning balance, shares at Dec. 31, 2020 | 30,000,000 | 139,930,680 | 20,000,000 | |||
Beginning balance, value at Dec. 31, 2020 | $ 30,000 | $ 139,931 | $ 20,000 | 6,260,122 | (5,959,540) | 490,513 |
Common stock to be issued for services, shares | 10,000,000 | (5,000,000) | ||||
Common stock to be issued for services, value | $ 10,000 | $ (5,000) | 330,000 | 335,000 | ||
Common stock for prepaid expenses, shares | 1,176,471 | |||||
Common stock for prepaid expenses, value | $ 1,176 | 98,824 | 100,000 | |||
Common stock to be issued for license agreement, shares | 15,000,000 | |||||
Common stock to be issued for license agreement, value | $ 15,000 | $ (15,000) | ||||
Common Stock issued for cash proceeds, shares | 749,999 | |||||
Common Stock issued for cash proceeds, value | $ 750 | 44,250 | 45,000 | |||
Common stock issued for investment, shares | 10,833,333 | |||||
Common stock issued for investment, value | $ 10,833 | 639,167 | 650,000 | |||
Net loss | (782,767) | (782,767) | ||||
Ending balance, shares at Mar. 31, 2021 | 30,000,000 | 177,690,483 | 15,000,000 | |||
Ending balance, value at Mar. 31, 2021 | $ 30,000 | $ 177,690 | $ 7,372,363 | $ (6,742,307) | $ 837,746 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net loss | $ (782,767) | $ (15,067) |
Adjustments to reconcile net loss to net cash used by operating activities: | ||
Amortization of debt discount | 15,071 | 19,891 |
loss on sale of investment | 3,924 | 0 |
Derivative (gain) loss | (7,378) | (48,129) |
Stock based compensation | 335,000 | 0 |
Changes in operating assets and liabilities | ||
Prepaid expenses | 16,667 | 0 |
Accounts payable and accrued expenses | 340,943 | 43,059 |
Net cash used by operating activities | (78,540) | (246) |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Proceeds from sale of investment | 0 | 0 |
Net cash provided by investing activities | 0 | 0 |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Proceeds from convertible debenture | 121,500 | 0 |
Proceeds from sale of common stock | 45,000 | 0 |
Proceeds from convertible notes payable, related party | 0 | |
Net cash provided by financing activities | 166,500 | 0 |
Change in cash | 87,960 | (246) |
Cash, beginning of year | 84 | 246 |
Cash, end of Quarter | 88,044 | 0 |
Supplemental Cash Flow information | ||
Cash paid for interest | 0 | 0 |
Cash paid for income taxes | 0 | 0 |
Non-Cash transactions | ||
Common stock issued for investment | 650,000 | 0 |
Common stock issued for prepaid expenses | $ 100,000 | $ 0 |
NATURE OF OPERATIONS
NATURE OF OPERATIONS | 3 Months Ended |
Mar. 31, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
NATURE OF OPERATIONS | NOTE 1. NATURE OF OPERATIONS Eco Innovation Group, Inc. (the “Company”), was originally incorporated March 5, 2001 as Dig-It Underground, Inc., a Nevada corporation that initially operated as an underground cable contractor. On September 29, 2008, the Company entered into a share exchange agreement with Haydin Group Enterprises, a sole proprietorship, and concurrently resolved to wind down its cable installation business. By virtue of the share exchange agreement, the Company acquired an interest in Haydin’s salon equipment, office equipment, lease assignments for salon locations, reception office equipment, salon stations, and remodeled salon facilities that included upgraded and permitted electrical, plumbing and signage. The Company’s business focused on the operation of a string of high-end beauty salons in the Cedar Hill, Texas area. On September 1, 2011, the Company entered into a share exchange agreement with Get Down Art, LLC, a Nevada limited liability company. The consummation of the share exchange provided the Company with original art and agreements with artists with licensing agreements with businesses. The Company acquired art inventory, accounts receivable, office leasing and build out. The Company resolved to unwind its previous acquisition of Haydin Group Enterprises, Inc., dated September 29, 2008. On August 30, 2012, the Company acquired the Haydin Group Enterprises as a wholly owned subsidiary of the Company through a share exchange agreement wherein the Company issued fifty million shares of its common stock in exchange for all of the legal right title and interest in the assets of Haydin Group Enterprises. Haydin Group Enterprises owned a chain of high-end beauty salons that focused on skin and hair care and nail care. Haydin also promoted sales of beauty supplies and products and sold to other salons in Texas. The Haydin beauty salons retained highly trained experienced cosmetologists who had a long history with the business. Concurrently, the Company discontinued its business with Get Down Art, LLC and resolved to unwind that acquisition. On January 5, 2016, the Company acquired Expressions Property Limited, LP, a Texas limited partnership and Expressions Chiropractic and Rehab Center, PA pursuant to share exchange agreements. These acquisitions allowed the Company to enter the natural healing and chiropractic business in Cedar Hill and North Richland Hills, Texas. Effective June 30, 2018, the Company resolved and agreed to spin out Haydin Group Enterprises, Expressions Property Limited, LP and Expressions Chiropractic and Rehab Center, PA as private entities and thereby unwinding the share exchange agreements entered into on August 30, 2012 and January 5, 2016, respectively. On July 1, 2018, the Company approved a reverse split of its common stock in a ratio of 1:1,000; a change of the Company’s name to Eco Innovation Group, Inc.; and the change of the Company’s trading symbol. The reverse split of the Company’s common stock was effective August 29, 2018. The Company was an innovation incubator platform from 2018 until early 2020 that focusing on developing a more affordable, fire, hurricane and earthquake resilient steel framing system. On August 19, 2019, the Company incorporated Steel Hemp Homes Inc. in the state of California as a wholly owned subsidiary. On February 12, 2020, Julie Otey-Raudes was appointed as CEO and President of the Company upon John English’s resignation. She also acquired 30,000,000 shares of Series A Preferred Stock, which represent all of the outstanding preferred stock of the Company. On February 20, 2020, the Company filed an increase in authorized shares with the Secretary of State of Nevada. The total authorized common shares are increased to 500,000,000 with a par value $0.001, and preferred shares maintained at 50,000,000 authorized. On August 6, 2020, the Company amended its articles of incorporation with an effective date of July 23, 2020, to create a new class of preferred stock, designated the “Series B Convertible Preferred Stock” and to rename the existing preferred stock as the “Series A Convertible Preferred Stock”. As a result, the Company has two classes of shares of preferred stock, designated “Series A Convertible Preferred Stock” and “Series B Convertible Preferred Stock”. The Company has designated 30,000,000 shares of Series A Convertible Preferred Stock, of which 30,000,000 shares have been issued and are outstanding. 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 Series A Convertible Preferred Stock outstanding. There are no shares of Series B Convertible Preferred Stock issued or outstanding. The Company’s plan is to initially develop a revolutionary Power Booster for your home and office that will reduce electric bills and other energy saving related technologies. The Company seeks to license and develop innovative technologies in the sustainable and renewable energy field. Accounting policies and procedures are listed below. The Company has adopted a December 31 year-end. Accounting Basis 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 March, 31 2021, December 31, 2020, and December 31, 2019, the Company had cash or cash equivalent balances in excess of federally insured amounts. The Company’s policy is to invest excess funds in only well capitalized financial institutions. Earnings per share Basic Earnings Per Share (EPS) common common shares for options common stock were The Company has not issued any options or warrants or similar securities since inception. 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 March 31, 2021, and the years ended December 31, 2020 and 2019, the Company evaluated long lived assets for impairment determined no impairment was necessary. 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: March 31, 2021 Level 1 Level 2 Level 3 Total Assets Investments $ — $ — $ — $ — Liabilities Derivative liability — — 118,729 118,729 December 31, 2020 Level 1 Level 2 Level 3 Total Assets Investments $ — $ — $ — $ — Liabilities Derivative liability — — 92,138 92,138 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 f air 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 March 31, 2021, 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 The Company recognizes revenue in accordance with Accounting Standards Codification 2014- 09, Revenue from Contracts with Customers (Topic 606), which supersedes the revenue recognition requirements in Topic 605, Revenue Recognition, and most industry-specific revenue recognition guidance throughout the Industry Topics of the Accounting Standards Codification. The updated guidance states that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance also provides for additional disclosures with respect to revenues and cash f lows arising from contracts with customers. The standard will be effective for the first interim period within annual reporting periods beginning after December 15, 2017, and the Company adopted the standard using the modified retrospective approach effective January 1, 2018. At the time of each transaction, management assesses whether the fee associated with the transaction is fixed or determinable, and whether or not collection is reasonably assured. The assessment of whether the fee is fixed or determinable is based upon the payment terms of the transaction. Collectability is assessed based on a number of factors, including past transaction history with the client and the creditworthiness of the client. On August 25, 2020, the Company signed a Master Outsourcing Contract Manufacturing Agreement with Eco-Gen, pursuant to which the Company, as Manufacturer, will produce products for Eco-Gen, as Buyer. The Master Outsourcing Contract Manufacturing Agreement with Eco-Gen is a related party transaction insofar as our CEO and controlling Stockholder, Julia Otey-Raudes, is a director of Eco-Gen. Recently Issued Accounting Pronouncements 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. |
GOING CONCERN AND MANAGEMENT'S
GOING CONCERN AND MANAGEMENT'S LIQUIDITY PLANS | 3 Months Ended |
Mar. 31, 2021 | |
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 and . These doubt the for financial are and while develops model. The management’s and additional There profitable The any |
STOCKHOLDERS' EQUITY (DEFICIT)
STOCKHOLDERS' EQUITY (DEFICIT) | 3 Months Ended |
Mar. 31, 2021 | |
Equity [Abstract] | |
STOCKHOLDERS' EQUITY (DEFICIT) | NOTE 3. STOCKHOLDERS’ EQUITY (DEFICIT) Preferred Stock The has shares preferred stock, “Series Pref erred Stock” and “Series Pref erred The has 50,000,000 shares Preferred Stock, 30,000,000 Series Preferred Stock, with 30,000,000 shares and Series Preferred Stock 100 common shares for Series erred Stock and Common Stock The has 500,000,000 shares $0.001 common stock On November 15, 2020, the Company agreed to issue 2,500,000 shares of common stock to Patrick Laurie for $0.066 per share as compensation for services on the Company’s Advisory Board. The Company recognized expense of $165,000 related to the shares, which were issued in January 2021. On December 17, 2020, the Company agreed to issue 2,500,000 shares of common stock to Demitri Hopkins for $0.008 per share as compensation for services on the Company’s Advisory Board. The Company recognized expense of $200,000 related to the shares, which were issued in January 2021. The Company also agreed to compensate the Advisory board member with cash payments of $60,000 per year. On December 16, 2020, the Company entered into a technology license agreement with Glytech LLC, a company of which Demitri Hopkins is an equity interest holder. The agreement awarded Glytech LLC 15,000,000 shares of common stock upon execution, and an additional 15,000,000 shares upon completion of a working prototype of a new technology product based on the licensed technology by March 31, 2021. The protype has not yet been completed, but Glytech may still earn the additional 15,000,000 shares once completed. Additionally, upon completion of the working prototype, the Company will pay $150,000 of cash, due within six months of the milestone completion. The Company will be a royalty of 10% to Glytech on all net sales of any device incorporating the licensed technology. The initial shares to be awarded were valued at $1,050,000 based on the fair value of the common stock at the agreement date and were recorded as an indefinite-lived intangible asset. The shares were issued in January 2021. During the three months ended March 31, 2021, the Company issued 749,999 shares of common stock in exchange for cash proceeds of $45,000. On January 6, 2021 the Company agreed to issue 5,000,000 shares of common stock to SaraLynn Mandell for $0.067 per share as compensation for services on the Company’s Advisory Board. The Company recognized expense of $335,000 related to the shares, which were issued in February 2021. The Company also agreed to compensate the Advisory board member with cash payments of $60,000 per year. On February 3, 2021, the Company issued 1,176,471 shares of common stock for to a consultant for investor relations services to be provided over a period of one year. On March 1, 2021, the Company entered into a Share Exchange Agreement with Marijuana Company of America, Inc., a Utah corporation quoted on OTC Markets Pink (“MCOA”) dated February 26, 2021, to acquire the number of shares of MCOA’s common stock, par value $0.001, equal in value to $650,000 based on the closing price for the trading day immediately preceding the effective date, in exchange for the number of shares of Company common stock, par value $0.001, equal in value to $650,000 based on the per-share price of $0.06 (the “Share Exchange Agreement”). For both parties, the Share Exchange Agreement contains a “true-up” provision requiring the issuance of additional common stock in the event that a decline in the market value of either parties’ common stock should cause the aggregate value of the stock acquired pursuant to the Share Exchange Agreement to fall below $650,000. The Company issued 10,833,333 shares of its Company stock pursuant to this agreement, and holds 41,935,484 shares of MCOA stock. Additionally, the Share Exchange Agreement requires that for a two year period following execution, each company is required to issue additional shares of its common stock should the fair value of the initial shares issued to each respective party fall below $650,000, based on the closing trading price at each fiscal quarter, each Company will issue such additional shares to ensure the aggregate value of such shares issued be $650,000. Complementary to the Share Exchange Agreement, the Company and MCOA entered into a Lock-Up Agreement dated February 26, 2021 (the “Lock-Up Agreement”), providing that the shares of common stock acquired pursuant to the Share Exchange Agreement shall be subject to a lock-up period preventing its sale for a period of 12 months following issuance, and limiting the subsequent sale to aggregate maximum sale value of $20,000 per week, or $80,000 per month. |
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS | 3 Months Ended |
Mar. 31, 2021 | |
Related Party Transactions [Abstract] | |
RELATED PARTY TRANSACTIONS | NOTE 4- RELATED PARTY TRANSACTIONS On March 1, 2016, the Company executed two convertible notes of $4,902 each with former executives of the Company. These notes are each convertible into 50,000,000 shares of common stock. These notes are non-interest bearing. On October 14, 2019, one of these notes converted into 50,000,000 shares of common stock. |
CONVERTIBLE NOTES
CONVERTIBLE NOTES | 3 Months Ended |
Mar. 31, 2021 | |
Debt Disclosure [Abstract] | |
CONVERTIBLE NOTES | NOTE 5. CONVERTIBLE NOTES The Company has a $12,500 loan due to Robert L. Hymers III. The loan bears interest at 10% per annum and is convertible to 5,000,000 shares with a 4.99% equity blocker upon demand. The Company also has a $21,000 loan to Robert L. Hymers III, which bears interest at 10% and is convertible at an exercise price of 65% of the lowest traded price of the Company’s stock for the 15 days prior to conversion. The Company also has a $40,000 loan due to Robert L. Hymers III, which bears interest at 10% and is convertible at an exercise price of 65% of the lowest traded price of the Company’s stock for the 15 days prior to conversion. On December 9, 2019, the Company executed a convertible note with Pinnacle Consulting Services Inc. for $40,000 which matured on June 9, 2020. This note bears interest at 5% per annum, which is convertible into shares of the Company’s common stock. The note is convertible at the option of the holder, into such number of fully paid and non-assessable shares of common stock as is determined by dividing that portion of the outstanding principal balance under the note by the Conversion Price, which is a 35% discount of the lowest reported sale price of the common stock for the 15 trading days immediately prior to the date of conversion. In May 2016, a consultant was awarded the right to receive 100,000,000 shares of common stock. In May 2018, this right was assigned to Heritage Funding, Inc. and John English equally in exchange for $9,9038 to be paid by the Company. The promissory note was convertible into 100,000,000 shares of common stock at a fixed price of $0.0009. In October 2019, Heritage Funding entered into a private transaction to sell the right to 45,000,000 of its 50,000,000 shares to Blue Ridge Enterprises. Also, in October 2019, Blue Ridge Enterprises and Heritage Funding converted principal into 45,000,000 and 5,000,000 shares of common stock, respectively. In May 2020, Robert L. Hymers purchased half of the remaining convertible promissory note and its related conversion rights from John English in a private transaction. In May 2020, John English converted principal of $2,451 into 25,000,000 shares of common stock. The remaining principal balance owed to Robert L. Hymers of $2,451 is convertible into 25,000,000 shares of stock at March 31, 2021. On May 12, 2020, the Company executed a convertible note with Pinnacle Consulting Services Inc. for $12,500 due on May 12, 2021. This note bears interest at 10% per annum and is convertible (in whole or in part), at the option of the Holder, into such number of fully paid and non-assessable shares of common stock as is determined by dividing that portion of the outstanding principal balance under this Note by the Conversion Price, which is fixed at $0.0025 per share. On June 30, 2020, the Company executed a convertible note with Pinnacle Consulting Services Inc. for $21,000 due on June 30, 2021. This note bears interest at 10% per annum and is convertible (in whole or in part), at the option of the Holder, into such number of fully paid and non-assessable shares of common stock as is determined by dividing that portion of the outstanding principal balance under this Note by the Conversion Price, which is a 35% discount of the lowest reported sale price of the common stock for the 15 trading days immediately prior to the date of conversion. On January 20, 2021, the Company entered into a securities purchase agreement dated as of January 20, 2021 with Geneva Roth Remark Holdings, Inc., providing for the issuance of a convertible promissory note in the principal amount of $45,000. The Company received net proceeds of $41,500. The principal balance of the note accrues interest at the rate of 10% per annum and becomes due on January 20, 2022. The note shall be convertible into common shares of the Company at the option of the holder after 180 days from the issue date until its maturity or date of payment of principal and interest, at a conversion price equal to 61% of the lowest trading price of the Company’s stock during the 20-day period preceding the day of conversion, representing a discount of 39% to the market. On March 8, 2021, the Company entered into a securities purchase agreement dated as of March 8, 2021 with Geneva Roth Remark Holdings, Inc., providing for the issuance of a convertible promissory note in the principal amount of $53,500. The Company received net proceeds of $41,500. The principal balance of the note accrues interest at the rate of 10% per annum and becomes due on March 8, 2022. The note shall be convertible into common shares of the Company at the option of the holder after 180 days from the issue date until its maturity or date of payment of principal and interest, at a conversion price equal to 61% of the lowest trading price of the Company’s stock during the 20-day period preceding the day of conversion, representing a discount of 39% to the market. 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. The note carries a 10% interest rate per annum and is convertible at a fixed price of $0.06 a share into a total of 500,000 common shares. The Company determined that the conversion options in the certain of the notes discussed above met the definition of a liability in accordance with ASC Topic No. 815 - 40, Derivatives and Hedging - Contracts in Entity’s Own Stock. The Company bifurcated the embedded conversion option in the note once the note becomes convertible and account for it as a derivative liability. During the three months ended March 31, 2021, the fair value of new derivative liabilities on the new issuance of debt amounted to $33,924 upon inception, with debt discount of $30,000 recognized and a loss on derivative issuance of $3,924 recognized, included in interest expense on the consolidated statements of operations. The Derivative liabilities n the Company’s various convertible debt instruments had an estimated fair value of $118,729 as of March 31, 2021. The Company recognized a gain on the change in fair value of the derivative liability of $7,378 during the three months ended March 31, 2021. The Black Scholes valuation model included inputs of volatility of between 416.4% and 607.4%, a dividend yield of 0%, risk free rate of 0.03%-0.07% and a term of between 0.25 years and one year. As of March 31, 2021, there were 31,954,979 shares of common stock that may be issued under the convertible notes payable described above. As of March 31, 2021 and December 31, 2020, unamortized debt discount was $45,307 and $14,935, respectively. During the three months ended March 31, 2021, the Company amortized $15,071 of debt discount to interest expense. Accrued interest on convertible notes was $8,591 and $2,672 as of March 31, 2021 and December 31, 2020, respectively. |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 3 Months Ended |
Mar. 31, 2021 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | NOTE 9. SUBSEQUENT EVENTS On April 23, 2021, the Company issued a 10% convertible promissory note in the principal amount of $45,000 pursuant to a securities purchase agreement of the same date to GS Capital Partners, LLC. The Company received $40,500 from the sale of the convertible promissory note after deductions of an original issue discount of $2,000 and investor’s attorney fees of $2,500. The convertible promissory note becomes due on April 23, 2022 and carries interest on the principal amount outstanding of 10% per annum. The principal amount of the note is convertible at the holder’s option into shares of the Company's common stock at a conversion price equal to 61% of the lowest trading price of the Company’s common stock for the twenty prior trading days. On May 1, 2021, the Company and a consultant entered into a settlement agreement and lockup agreement, pursuant to which, on May 3, 2021, the Company returned 2,675,000 shares of common stock to treasury and the consultant retained 5,000,000 shares of common stock subject to a 12-month sale restriction period. For further information see Item 1 Legal Proceedings of this Form 10-Q. |
NATURE OF OPERATIONS (Policies)
NATURE OF OPERATIONS (Policies) | 3 Months Ended |
Mar. 31, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Accounting Basis | Accounting Basis 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 March, 31 2021, December 31, 2020, and December 31, 2019, the Company had cash or cash equivalent balances in excess of federally insured amounts. The Company’s policy is to invest excess funds in only well capitalized financial institutions. |
Earnings per share | Earnings per share Basic Earnings Per Share (EPS) common common shares for options common stock were The Company has not issued any options or warrants or similar securities since inception. |
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 March 31, 2021, and the years ended December 31, 2020 and 2019, the Company evaluated long lived assets for impairment determined no impairment was necessary. |
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: March 31, 2021 Level 1 Level 2 Level 3 Total Assets Investments $ — $ — $ — $ — Liabilities Derivative liability — — 118,729 118,729 December 31, 2020 Level 1 Level 2 Level 3 Total Assets Investments $ — $ — $ — $ — Liabilities Derivative liability — — 92,138 92,138 |
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 f air 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 March 31, 2021, 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 The Company recognizes revenue in accordance with Accounting Standards Codification 2014- 09, Revenue from Contracts with Customers (Topic 606), which supersedes the revenue recognition requirements in Topic 605, Revenue Recognition, and most industry-specific revenue recognition guidance throughout the Industry Topics of the Accounting Standards Codification. The updated guidance states that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance also provides for additional disclosures with respect to revenues and cash f lows arising from contracts with customers. The standard will be effective for the first interim period within annual reporting periods beginning after December 15, 2017, and the Company adopted the standard using the modified retrospective approach effective January 1, 2018. At the time of each transaction, management assesses whether the fee associated with the transaction is fixed or determinable, and whether or not collection is reasonably assured. The assessment of whether the fee is fixed or determinable is based upon the payment terms of the transaction. Collectability is assessed based on a number of factors, including past transaction history with the client and the creditworthiness of the client. On August 25, 2020, the Company signed a Master Outsourcing Contract Manufacturing Agreement with Eco-Gen, pursuant to which the Company, as Manufacturer, will produce products for Eco-Gen, as Buyer. The Master Outsourcing Contract Manufacturing Agreement with Eco-Gen is a related party transaction insofar as our CEO and controlling Stockholder, Julia Otey-Raudes, is a director of Eco-Gen. |
Recently Issued Accounting Pronouncements | Recently Issued Accounting Pronouncements 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. |
NATURE OF OPERATIONS (Tables)
NATURE OF OPERATIONS (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis | The following summarizes the fair value of assets and liabilities measured on a recurring basis: March 31, 2021 Level 1 Level 2 Level 3 Total Assets Investments $ — $ — $ — $ — Liabilities Derivative liability — — 118,729 118,729 December 31, 2020 Level 1 Level 2 Level 3 Total Assets Investments $ — $ — $ — $ — Liabilities Derivative liability — — 92,138 92,138 |
NATURE OF OPERATIONS (Details)
NATURE OF OPERATIONS (Details) - USD ($) | Mar. 31, 2021 | Dec. 31, 2020 |
Assets | ||
Investments | $ 0 | $ 0 |
Liabilities | ||
Derivative liability | 118,729 | 92,138 |
Fair Value, Inputs, Level 1 [Member] | ||
Assets | ||
Investments | 0 | 0 |
Liabilities | ||
Derivative liability | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ||
Assets | ||
Investments | 0 | 0 |
Liabilities | ||
Derivative liability | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | ||
Assets | ||
Investments | 0 | 0 |
Liabilities | ||
Derivative liability | $ 118,729 | $ 92,138 |
NATURE OF OPERATIONS (Details N
NATURE OF OPERATIONS (Details Narrative) - USD ($) | Jul. 01, 2018 | Mar. 31, 2021 | Mar. 31, 2020 | Dec. 31, 2020 | Aug. 06, 2020 | Feb. 12, 2020 |
Entity Incorporation, Date of Incorporation | Mar. 5, 2001 | |||||
Entity Incorporation, State or Country Code | NV | |||||
Reverse split | 1:1,000 | |||||
Common stock, par value | $ 0.001 | $ 0.001 | ||||
Common stock, shares authorized | 500,000,000 | 500,000,000 | ||||
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 | ||||
Cash Equivalents | $ 0 | $ 0 | ||||
Impairment of Long-Lived Assets | $ 0 | $ 0 | ||||
Series A Preferred Stock [Member] | Julie Otey-Raudes [Member] | ||||||
Preferred stock, shares outstanding | 30,000,000 | |||||
Series A Convertible Preferred Stock [Member] | ||||||
Preferred stock, shares authorized | 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] | ||||||
Preferred stock, shares outstanding | 30,000,000 |
STOCKHOLDERS' EQUITY (DEFICIT)
STOCKHOLDERS' EQUITY (DEFICIT) (Details Narrative) - USD ($) | Mar. 02, 2021 | Feb. 03, 2021 | Jan. 06, 2021 | Jul. 01, 2018 | Dec. 17, 2020 | Dec. 16, 2020 | Nov. 15, 2020 | Mar. 31, 2021 | Mar. 01, 2021 | Dec. 31, 2020 | Aug. 06, 2020 | Feb. 12, 2020 |
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 | $ 0.001 | $ 0.001 | ||||||||||
Common stock, shares authorized | 500,000,000 | 500,000,000 | ||||||||||
Reverse split | 1:1,000 | |||||||||||
Stock issued during period for debt conversion, shares | 749,999 | |||||||||||
Stock issued during period for debt conversion, value | $ 45,000 | |||||||||||
Stock issued during period for services, value | $ 335,000 | |||||||||||
Series A Convertible Preferred Stock [Member] | ||||||||||||
Preferred stock, shares authorized | 30,000,000 | |||||||||||
Preferred stock, shares issued | 30,000,000 | 30,000,000 | ||||||||||
Preferred stock, shares outstanding | 30,000,000 | 30,000,000 | ||||||||||
SaraLynn Mandell [Member] | ||||||||||||
Stock issued during period for services, shares | 5,000,000 | |||||||||||
Stock issued during period for services, value | $ 335,000 | |||||||||||
Demitri Hopkins [Member] | ||||||||||||
Stock issued during period for services, shares | 2,500,000 | |||||||||||
Share price | $ 0.008 | |||||||||||
Stock based compensation | $ 200,000 | |||||||||||
Patrick Laurie [Member] | ||||||||||||
Stock issued during period for services, shares | 2,500,000 | |||||||||||
Share price | $ 0.066 | |||||||||||
Stock based compensation | $ 165,000 | |||||||||||
Julie Otey-Raudes [Member] | Series A Convertible Preferred Stock [Member] | ||||||||||||
Preferred stock, shares outstanding | 30,000,000 | |||||||||||
Julie Otey-Raudes [Member] | Series A Preferred Stock [Member] | ||||||||||||
Preferred stock, shares outstanding | 30,000,000 | |||||||||||
Consultant [Member] | ||||||||||||
Stock issued during period for services, shares | 1,176,471 | |||||||||||
Glytech LLC [Member] | ||||||||||||
License description | On December 16, 2020, the Company entered into a technology license agreement with Glytech LLC, a company of which Demitri Hopkins is an equity interest holder. The agreement awarded Glytech LLC 15,000,000 shares of common stock upon execution, and an additional 15,000,000 shares upon completion of a working prototype of a new technology product based on the licensed technology by March 31, 2021. The protype has not yet been completed, but Glytech may still earn the additional 15,000,000 shares once completed. Additionally, upon completion of the working prototype, the Company will pay $150,000 of cash, due within six months of the milestone completion. | |||||||||||
Indefinite-lived intangible asset | $ 1,050,000 | |||||||||||
Advisory board member [Member] | ||||||||||||
Stock based compensation | $ 60,000 | |||||||||||
Share Exchange Agreement [Member] | ||||||||||||
Principal amount | $ 650,000 | |||||||||||
Stock issued during period | 10,833,333 | |||||||||||
Common stock outstanding | 41,935,484 |
RELATED PARTY TRANSACTIONS (Det
RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($) | Oct. 14, 2019 | Mar. 01, 2016 | Mar. 31, 2021 |
Stock issued during period for debt conversion, shares | 749,999 | ||
First Convertible Notes [Member] | |||
Convertible notes | $ 4,902 | ||
Stock issued during period for debt conversion, shares | 50,000,000 | 50,000,000 | |
Second Convertible Notes [Member] | |||
Convertible notes | $ 4,902 | ||
Stock issued during period for debt conversion, shares | 50,000,000 |
CONVERTIBLE NOTES (Details Narr
CONVERTIBLE NOTES (Details Narrative) - USD ($) | Mar. 08, 2021 | May 12, 2020 | Dec. 09, 2019 | Mar. 22, 2021 | Jan. 20, 2021 | Jun. 30, 2020 | May 31, 2020 | Oct. 31, 2019 | May 31, 2016 | Mar. 31, 2021 | Mar. 31, 2020 | Jan. 22, 2021 | Dec. 31, 2020 |
Stock issued during period for debt conversion, shares | 749,999 | ||||||||||||
Stock issued during period for debt conversion, value | $ 45,000 | ||||||||||||
Fair value of new derivative liabilities | 118,729 | ||||||||||||
Debt discount | 30,000 | ||||||||||||
Loss on derivative | 12,336 | ||||||||||||
Derivative liability at fair value | 33,924 | ||||||||||||
Gain on change in fair value of derivative liability | 7,378 | ||||||||||||
Unamortized debt discount | 45,307 | $ 14,935 | |||||||||||
Amortization of debt discount | 15,071 | $ 19,891 | |||||||||||
Accrued interest | 8,591 | 2,672 | |||||||||||
Due to related party | 15,000 | $ 15,000 | |||||||||||
Proceeds from convertible debt | $ 0 | ||||||||||||
Pinnacle Consulting [Member] | |||||||||||||
Convertible notes | $ 12,500 | $ 21,000 | |||||||||||
Maturity Date | May 12, 2021 | Jun. 30, 2021 | |||||||||||
Interest rate | 10.00% | 10.00% | |||||||||||
Conversion Price | $ 0.0025 | ||||||||||||
Heritage Funding [Member] | |||||||||||||
Stock issued during period for debt conversion, shares | 5,000,000 | ||||||||||||
Heritage Funding [Member] | Minimum [Member] | |||||||||||||
Stock Issued During Period, Shares | 45,000,000 | ||||||||||||
Heritage Funding [Member] | Maximum [Member] | |||||||||||||
Stock Issued During Period, Shares | 50,000,000 | ||||||||||||
Blue Ridge Enterprises [Member] | |||||||||||||
Stock issued during period for debt conversion, shares | 45,000,000 | ||||||||||||
Claudia Villalta [Member] | |||||||||||||
Interest rate | 10.00% | ||||||||||||
Stock issued during period for debt conversion, value | $ 500,000 | ||||||||||||
Conversion Price | $ 0.06 | ||||||||||||
Principal amount | $ 30,000 | ||||||||||||
Geneva Roth Remark Holdings [Member] | |||||||||||||
Interest rate | 10.00% | 10.00% | |||||||||||
Principal amount | $ 53,500 | $ 45,000 | |||||||||||
Proceeds from convertible debt | $ 41,500 | $ 41,500 | |||||||||||
Robert L. Hymers III 1 [Member] | |||||||||||||
Interest rate | 10.00% | ||||||||||||
Due to related party | $ 40,000 | ||||||||||||
Robert L. Hymers III [Member] | |||||||||||||
Interest rate | 10.00% | ||||||||||||
Stock issued during period for debt conversion, shares | 5,000,000 | ||||||||||||
Due to related party | $ 12,500 | ||||||||||||
Equity blocker percentage | 4.99% | ||||||||||||
John English [Member] | |||||||||||||
Stock issued during period for debt conversion, shares | 25,000,000 | ||||||||||||
Stock issued during period for debt conversion, value | $ 2,451 | ||||||||||||
Robert L. Hymers [Member] | |||||||||||||
Interest rate | 10.00% | ||||||||||||
Stock issued during period for debt conversion, shares | 25,000,000 | ||||||||||||
Stock issued during period for debt conversion, value | $ 2,451 | ||||||||||||
Measurement Input, Price Volatility [Member] | |||||||||||||
Valuation | 416.4% - 607.4% | ||||||||||||
Measurement Input, Risk Free Interest Rate [Member] | |||||||||||||
Valuation | 0.03%-0.07% | ||||||||||||
Measurement Input, Expected Dividend Rate [Member] | |||||||||||||
Valuation | 0% | ||||||||||||
Measurement Input, Expected Term [Member] | |||||||||||||
Valuation | between 0.25 years and one year | ||||||||||||
Convertible Notes Payable [Member] | |||||||||||||
Stock Issued During Period, Shares | 31,954,979 | ||||||||||||
Promissory note [Member] | |||||||||||||
Stock issued during period for debt conversion, shares | 100,000,000 | ||||||||||||
Convertible Notes [Member] | Pinnacle Consulting [Member] | |||||||||||||
Convertible notes | $ 40,000 | ||||||||||||
Maturity Date | Jun. 9, 2020 | ||||||||||||
Interest rate | 5.00% |
SUBSEQUENT EVENTS (Details Narr
SUBSEQUENT EVENTS (Details Narrative) - USD ($) | 1 Months Ended | 3 Months Ended | |
May 01, 2021 | Apr. 23, 2021 | Mar. 31, 2021 | |
Proceeds from convertible debt | $ 0 | ||
Subsequent Event [Member] | |||
Stock returned | 5,000,000 | ||
Subsequent Event [Member] | GS Capital Partners [Member] | |||
Principal amount | $ 45,000 | ||
Proceeds from convertible debt | 40,500 | ||
Original issue discount | 2,000 | ||
Attorney fees | $ 2,500 | ||
Interest rate | 10.00% | ||
Subsequent Event [Member] | Consultant [Member] | |||
Stock returned | 2,675,000 |