Cover
Cover - shares | 6 Months Ended | |
Jun. 30, 2021 | Sep. 17, 2021 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Document Period End Date | Jun. 30, 2021 | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2021 | |
Current Fiscal Year End Date | --12-31 | |
Entity File Number | 000-51302 | |
Entity Registrant Name | MADISON TECHNOLOGIES INC. | |
Entity Central Index Key | 0001318268 | |
Entity Tax Identification Number | 85-2151785 | |
Entity Incorporation, State or Country Code | NV | |
Entity Address, Address Line One | 450 Park Avenue | |
Entity Address, Address Line Two | 30th Floor | |
Entity Address, City or Town | New York | |
Entity Address, State or Province | NY | |
Entity Address, Postal Zip Code | 10022 | |
City Area Code | (212) | |
Local Phone Number | 339-5888 | |
Title of 12(b) Security | Common | |
Trading Symbol | MDEX | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 24,972,565 |
Interim Consolidated Balance Sh
Interim Consolidated Balance Sheets (Unaudited) - USD ($) | Jun. 30, 2021 | Dec. 31, 2020 |
CURRENT ASSETS | ||
Cash | $ 5,640,797 | $ 9,491 |
Accounts receivables | 80,766 | |
Prepaid expenses and Deposits | 45,653 | 67,718 |
Due from related party – Note 15 | 85,388 | |
Total Current Assets | 5,852,604 | 77,209 |
Intangible Assets – Note 3 | 9,089,113 | 433,407 |
Equipment, net – Note 5 | 674,043 | |
Inventory – Note 6 | 146,324 | |
Investments – Note 7, Note 12 | 372,500 | |
Operating lease right-of-use assets, net – Note 8 | 695,858 | |
Goodwill – Note 4 | 6,504,326 | |
Total Assets | 23,334,768 | 510,616 |
CURRENT LIABILITIES | ||
Accounts payable and accrued charges – Note 9 | 530,002 | 61,779 |
Customer Deposits | 78,812 | |
License fee payable – Note 10 | 33,500 | 33,500 |
Current portion of lease liabilities – Note 8 | 81,947 | |
Demand notes and accrued interest payable – Note 13 | 20,486 | |
Convertible notes payable – Note 14 | 494,992 | |
Interest payable on convertible notes – Note 15 | 453,750 | |
Total current liabilities | 1,178,011 | 610,757 |
Long term portion of lease liability obligations – Note 8 | 623,858 | |
Long term convertible notes – Note 15 | 15,151,122 | 57,759 |
Total liabilities | 16,952,991 | 668,516 |
Capital Stock: (Note 17 and 18) | ||
Preferred stock value | ||
Common Shares - $0.001 par value; 500,000,000 shares authorized 24,972,565 shares issued and outstanding (Dec 31, 2020 - 23,472,565 shares) | 24,972 | 23,472 |
Additional Paid in Capital: | ||
Preferred shares Series A | 343,001 | |
Preferred shares Series D | 667,984 | |
Preferred shares Series E | 4,225,061 | |
Common Shares | 1,331,570 | 959,976 |
Shares subscribed | 4,173,000 | |
Accumulated deficit | (4,041,042) | (1,484,442) |
Total stockholders’ equity (deficit) | 6,381,777 | (157,900) |
Total liabilities and stockholders’ equity (deficit) | 23,334,768 | 510,616 |
Series A Preferred Stock [Member] | ||
Capital Stock: (Note 17 and 18) | ||
Preferred stock value | 93 | |
Series B Preferred Stock [Member] | ||
Capital Stock: (Note 17 and 18) | ||
Preferred stock value | ||
Series C Preferred Stock [Member] | ||
Capital Stock: (Note 17 and 18) | ||
Preferred stock value | ||
Series D Preferred Stock [Member] | ||
Capital Stock: (Note 17 and 18) | ||
Preferred stock value | 230 | |
Series E Preferred Stock [Member] | ||
Capital Stock: (Note 17 and 18) | ||
Preferred stock value | 1 | |
Series F Preferred Stock [Member] | ||
Capital Stock: (Note 17 and 18) | ||
Preferred stock value | 1 | |
Series G Preferred Stock [Member] | ||
Capital Stock: (Note 17 and 18) | ||
Preferred stock value |
Interim Consolidated Balance _2
Interim Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares | 6 Months Ended | 12 Months Ended |
Jun. 30, 2021 | Dec. 31, 2020 | |
Preferred stock, shares authorized | 50,000,000 | 50,000,000 |
Preferred stock, at par value | $ 0.001 | $ 0.001 |
Preferred stock, shares issued | 0 | |
Common Stock, Par or Stated Value Per Share | $ 0.001 | |
Common Stock, Shares Authorized | 500,000,000 | |
Common Stock, Shares, Issued | 24,972,565 | 23,472,565 |
Common Stock, Shares, Outstanding | 24,972,565 | 23,472,565 |
Series A Preferred Stock [Member] | ||
Preferred stock, shares authorized | 100,000 | 100,000 |
Preferred stock, at par value | $ 0.001 | $ 0.001 |
Preferred stock, dividend rate percentage | 3.00% | 3.00% |
Preferred stock, stated value | $ 100 | $ 100 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Series B Preferred Stock [Member] | ||
Preferred stock, shares authorized | 100 | 100 |
Preferred stock, at par value | $ 0.001 | $ 0.001 |
Preferred stock, shares issued | 100 | 100 |
Preferred stock, shares outstanding | 100 | 100 |
Series C Preferred Stock [Member] | ||
Preferred stock, shares authorized | 10,000 | 10,000 |
Preferred stock, at par value | $ 0.001 | $ 0.001 |
Preferred stock, dividend rate percentage | 2.00% | 2.00% |
Preferred stock, stated value | $ 100 | $ 100 |
Preferred stock, shares issued | 0 | 0 |
Series D Preferred Stock [Member] | ||
Preferred stock, shares authorized | 230,000 | 230,000 |
Preferred stock, at par value | $ 0.001 | $ 0.001 |
Preferred stock, stated value | $ 3.32 | $ 3.32 |
Preferred stock, shares issued | 230,000 | 230,000 |
Preferred stock, shares outstanding | 230,000 | 230,000 |
Series E Preferred Stock [Member] | ||
Preferred stock, shares authorized | 1,000 | 1,000 |
Preferred stock, at par value | $ 0.001 | $ 0.001 |
Preferred stock, stated value | $ 1,000 | $ 1,000 |
Preferred stock, shares issued | 1,000 | 1,000 |
Preferred stock, shares outstanding | 1,000 | 1,000 |
Series F Preferred Stock [Member] | ||
Preferred stock, shares authorized | 1,000 | 1,000 |
Preferred stock, at par value | $ 0.001 | $ 0.001 |
Preferred stock, stated value | $ 1 | $ 1 |
Preferred stock, shares issued | 1,000 | 1,000 |
Preferred stock, shares outstanding | 1,000 | 1,000 |
Series G Preferred Stock [Member] | ||
Preferred stock, shares authorized | 3,000 | 3,000 |
Preferred stock, at par value | $ 0.001 | $ 0.001 |
Preferred stock, stated value | $ 1,000 | $ 1,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 |
Interim Consolidated Statements
Interim Consolidated Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Revenues | ||||
Sales | $ 296,025 | $ 199 | $ 296,025 | $ 954 |
Cost of sales | (113) | (732) | ||
Gross Margin | 296,025 | 86 | 296,025 | 222 |
Operating Expenses | ||||
Amortization | 179,789 | 215,073 | ||
Amortized right of use assets | 19,370 | 19,370 | ||
Consulting fees | 216,750 | 279,500 | ||
General and administrative | 146,970 | 7,863 | 159,903 | 11,869 |
Lender fees | 285,583 | 285,583 | ||
Management fees | 182,077 | 206,077 | ||
Marketing and product development | 109,289 | 178,535 | ||
Professional fees | 264,938 | 1,829 | 523,719 | 3,469 |
Royalties | 34,210 | 68,045 | ||
Total operating expenses | 1,438,976 | 9,692 | 1,935,805 | 15,338 |
Loss before other expense | (1,142,951) | (9,606) | (1,639,780) | (15,116) |
Other Items | ||||
Amortized interest | (103,122) | (236,322) | ||
Interest | (453,750) | (1,561) | (680,498) | (3,073) |
Net loss and comprehensive loss | $ (1,699,823) | $ (11,167) | $ (2,556,600) | $ (18,189) |
Net loss per share-Basic and diluted | $ (0.072) | $ (0.001) | $ (0.106) | $ (0.001) |
Average number of shares of common stock outstanding | 23,748,881 | 18,757,565 | 24,168,698 | 18,757,565 |
Interim Consolidated Statemen_2
Interim Consolidated Statements of Stockholders' Equity (Deficit) (Unaudited) - USD ($) | Series A Preferred Stocks [Member] | Series B Preferred Stocks [Member] | Series D Preferred Stocks [Member] | Series E Preferred Stocks [Member] | Series F Preferred Stocks [Member] | Common Stock [Member] | Additional Paid-in Capital [Member]Series A Preferred Stock [Member] | Additional Paid-in Capital [Member]Series B Preferred Stock [Member] | Additional Paid-in Capital [Member]Series D Preferred Stock [Member] | Additional Paid-in Capital [Member]Series E Preferred Stock [Member] | Additional Paid-in Capital [Member]Series F Preferred Stock [Member] | Additional Paid-in Capital [Member]Common Stock [Member] | Additional Paid-in Capital [Member] | Shares Subscribed [Member] | Retained Earnings [Member] | Total |
Beginning balance, value at Dec. 31, 2019 | $ 18,057 | $ 197,845 | $ (574,279) | $ (358,377) | ||||||||||||
Beginning balance, shares at Dec. 31, 2019 | 18,057,565 | |||||||||||||||
Net loss for the period | (18,189) | (18,189) | ||||||||||||||
Ending balance, shares at Jun. 30, 2020 | 18,057,565 | |||||||||||||||
Ending balance, value at Jun. 30, 2020 | $ 18,057 | $ 197,845 | (592,468) | (376,566) | ||||||||||||
Beginning balance, value at Dec. 31, 2020 | $ 93 | $ 23,472 | $ 343,001 | $ 959,976 | (1,484,442) | (157,900) | ||||||||||
Beginning balance, shares at Dec. 31, 2020 | 92,999 | 100 | 23,472,565 | |||||||||||||
Cancellation of Preferred Series A | $ (93) | (343,001) | 343,094 | |||||||||||||
Cancellation of Preferred Series A | (92,999) | |||||||||||||||
Conversion of debt to Preferred Series D | $ 230 | 667,984 | 668,214 | |||||||||||||
Conversion of debt to Preferred Series D | 230,000 | |||||||||||||||
Shares issued for assets – Series E | $ 1 | 4,225,061 | 4,225,062 | |||||||||||||
Shares issued for assets – Series E | 1,000 | |||||||||||||||
Shares issued for convertible notes – Series F | $ 1 | 1 | ||||||||||||||
Shares issued for convertible note – Series F | 1,000 | |||||||||||||||
Equity portion on convertible debt issued | 30,000 | 30,000 | ||||||||||||||
Equity portion on convertible debt issued | ||||||||||||||||
Shares issued for voting control – Series B | 1,500,000 | |||||||||||||||
Shares issued for voting control – Series B | $ 1,500 | (1,500) | ||||||||||||||
Share subscriptions received – Series G | 4,173,000 | 4,173,000 | ||||||||||||||
Shares subscriptions received – Series G | ||||||||||||||||
Net loss for the period | (2,556,600) | (2,556,600) | ||||||||||||||
Ending balance, shares at Jun. 30, 2021 | 100 | 230,000 | 1,000 | 1,000 | 24,972,565 | |||||||||||
Ending balance, value at Jun. 30, 2021 | $ 230 | $ 1 | $ 1 | $ 24,972 | $ 667,984 | $ 4,225,061 | $ 1,331,570 | $ 4,173,000 | $ (4,041,042) | $ 6,381,777 |
Interim Consolidated Statemen_3
Interim Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 6 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | |
Cash flows from operating activities: | ||
Net loss for the period | $ (2,556,600) | $ (18,189) |
Adjustments to reconcile net loss to cash used in operating activities: | ||
Amortization | 234,443 | |
Amortized interest | 236,322 | |
Interest on lease | 16,953 | |
Accrued interest on notes payable | 463,706 | 3,073 |
Foreign exchange on notes payable | (179) | (1,655) |
Changes in non-cash working capital items: | ||
Accounts receivables | (80,666) | |
Prepaid expenses | 22,065 | (18,822) |
Due from related party | (85,388) | |
Accounts payable and accrued charges | 468,223 | 1,742 |
Customer deposits | 78,812 | |
Lease payments | (26,376) | |
Net cash used in operating activities | (1,228,685) | (33,851) |
Cash flows from investing activities: | ||
Inventory | (146,324) | |
Intangible assets | (8,859,951) | |
Equipment | (684,871) | |
Deposits on Investments | (372,500) | |
Goodwill | (2,279,364) | |
Net cash provided by investing activities | (12,343,010) | |
Cash flows from financing activities: | ||
Proceeds from convertible notes issued | 15,030,000 | |
Shares subscriptions received but not issued | 4,173,000 | |
Shares for Debts - Series F | 1 | |
Proceeds from notes payable | 37,500 | |
Net cash provided by financing activities | 19,203,001 | 37,500 |
Net increase in cash | 5,631,306 | 3,649 |
Cash, beginning of year | 9,491 | 1,366 |
Cash, end of year | 5,640,797 | 5,015 |
SUPPLEMENTAL DISCLOSURE | ||
Interest paid | 216,792 | |
Taxes paid |
Nature and Continuance of Opera
Nature and Continuance of Operations | 6 Months Ended |
Jun. 30, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Nature and Continuance of Operations | Note 1 Nature and Continuance of Operations The Company was incorporated on June 15, 1998 in the State of Nevada, USA and the Company’s common shares are publicly traded on the OTC Markets OTCQB. Up until fiscal 2014, the Company (“Madison”) was in the business of mineral exploration. On May 28, 2014, the Company formalized an agreement whereby it purchased assets associated with a smokeless cannabis delivery system. The Company planned to develop this system for commercial purposes. On December 14, 2014, this asset purchase agreement was terminated. On September 16, 2016, the Company entered into an exclusive distribution product license agreement with Tuffy Packs, LLC to distribute products into the United Kingdom and 43 other essentially European countries. The Company sold ballistic panels which are personal body armors, that conform to the National Institute of Justice (NIJ) Level IIIA threat requirements. The Company’s plan of operations and sales strategy included online and social media marketing, as well as attending various tradeshows and conferences. As the Company failed to make specified payments as required, the agreement was amended to a non-exclusive basis. The Company has closed this business. On July 17, 2020, the Company entered into an acquisition agreement to acquire the Casa Zeta-Jones Brand License Agreement from Luxurie Legs, LLC of Delaware (“Luxurie”). Luxurie transferred all its rights, title and interest in the License Agreement to the Company in exchange for the Company’s newly issued preferred convertible Series A stock. Upon conversion, the stock could control up to 95 On September 28, 2020, the Company entered into a share exchange agreement to acquire 51 On February 16, 2021, the Company entered into a share exchange agreement to acquire 100 1,000 230,000 During the quarter ended March 31, 2021, the Company incorporated CZJ License, Inc. in the State of Nevada, and transferred all the Casa Zeta-Jones Brand License and operations into the subsidiary. The Preferred Series A shares were cancelled. Holders of Preferred Series A received option agreements to purchase shares of CZJ License, Inc. at $ 10 300,000 one year During the quarter ended June 30, 2021, the shareholders of the Company approved to amend the Articles of Incorporation to change its name from Madison Technologies, Inc. to Go.TV, Inc. At the same time, to also amend and restate the Company’s Articles of Incorporation to increase the Company’s authorized common stock from 500,000,000 6,000,000,000 These condensed consolidated interim financial statements have been prepared in accordance with generally accepted accounting principles in the United States or “US GAAP” applicable to a going concern, which assumes that the Company will be able to meet its obligations and continue its operations for its next twelve months. Realization values may be substantially different from carrying values as shown and these consolidated interim financial statements do not give effect to adjustments that would be necessary to the carrying values and classification of assets and liabilities should the Company be unable to continue as a going concern. The Company had not yet achieved profitable operations, had accumulated losses of $ 4,041,042 |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2021 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | Note 2 Summary of Significant Accounting Policies Basis of presentation While the information presented is unaudited, it includes all adjustments, which are, in our opinion of management, necessary to present fairly the financial position, result of operations and cashflows for the interim period presented in accordance with accounting principles generally accepted in the United States of America. All adjustments are of a normal recurring nature. These consolidated interim financial statements should be read in conjunction with the Company’s December 31, 2020 annual financial statements. Operating results for the three months ended March 31, 2020 are not necessarily indicative of the results that can be expected for the period ended December 31, 2021. The accompanying condensed consolidated interim financial statements include the accounts of the Company and its two wholly owned subsidiaries, CZJ License, Inc. (“CZJ”) and Sovryn Holdings, Inc. (“Sovryn”) Use of estimates The preparation of the consolidated interim financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Management makes its best estimate of the ultimate outcome for these items based on historical trends and other information available when the financial statements are prepared. Changes in estimates are recognized in accordance with the accounting rules for the estimate, which is typically in the period when new information becomes available to management. Actual results could differ from those estimates. Revenue Recognition Revenues derived from the leasing of television station channels are recognized when services are provided. These revenues are billed in advance, arrears and/or are prepaid. The performance obligation is the monthly services rendered. At the moment, the Company has one main revenue source which is leasing of television channels. Where there is a leasing contract for channels, the Company bills monthly for its services as rendered. Where there is no contract, the revenue is recognized as provided. Accounts Receivables Trade accounts receivable are stated at the amount the Company expects to collect. Management considers the following factors when determining the collectability of specific customer accounts: customer credit worthiness, past transaction history, current economic industry trends and changes in customer payment terms. Past due balances over 90 days and other higher risk amounts are reviewed individually for collectability. Based on the management’s assessment, the Company provides for estimated uncollectible amounts through a charge to earnings and a credit to a valuation allowance. Balances that remain outstanding after the Company has used reasonable collection efforts are written off through a charge to the valuation allowance and a credit to accounts receivable. As of June 30, 2021, the Company believes there are no receivables considered uncollectible. Operating Leases In February 2016, the FASB issued ASU 2016-02, Leases (“Topic 842”). The new standard establishes a right-of-use model that requires a lessee to record a right-of-use asset and a lease liability on the balance sheet for all leases with terms longer than 12 months. For leases with an initial term of 12 months or less, a lessee is permitted to make an accounting policy election by class of underlying asset not to recognize lease assets and lease liabilities. If a lessee makes this election, it should recognize lease expense for such leases generally on a straight-line basis over the term of the lease. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition. Similarly, lessors will be required to classify leases as sales-type, finance or operating, with classification affecting the pattern of income recognition. Classification for both lessees and lessors will be based on an assessment of whether risks and rewards as well as substantive control have been transferred through a lease contract. The new standard is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years, with early adoption permitted. The Company adopted the new standard April 19, 2021. The Company has elected not to recognize lease assets and lease liabilities for leases with an initial term of 12 months or less. Segment Reporting The Company reports segment information based on the “management” approach. The management approach designates the internal reporting used by management for making decisions and assessing performance of its corporation wide basis in comparison to its various businesses. The Company has three reportable segments. The business of CZJ, Sovryn and Madison Technologies Inc. The segments are determined based on several factors including the nature of products and services, nature of production processes and delivery channels, and rental of television stations. The operating segment’s performance is evaluated based on its segment income. Segment income is defined as the net sales less cost of sales, general and administrative expenses and does not include amortization of any sorts, stock-based compensation or any other charges (income), and interest. As at June 30, 2021, the Company reported revenues for its rental of radio stations. Schedule of Revenue For the six months ended Jun 30, 2021 Net Sales Madison Technologies Inc. $ - Sovryn Holdings Inc. 296,025 CZJ License Inc. - Total Sales $ 296,025 Total Assets Madison Technologies Inc. $ 9,373,786 Sovryn Holdings Inc. 13,451,820 CZJ License Inc. 509,162 Total Assets $ 23,334,768 Change in significant accounting policies There has been no change in the accounting policies from those disclosed in the notes to the audited financial statements for the year ended December 31, 2020 except the ones disclosed here. Recently Issued Accounting Pronouncements The Company adopts new pronouncements relating to generally accepted accounting principles applicable to the Company as they are issued, which may be in advance of their effective date. On August 5, 2020, the FASB issued a new standard (ASU 2020-06) to reduce the complexity of accounting for convertible debt. The standard is effective for Smaller Reporting Companies for fiscal years beginning after December 15, 2023. Management is reviewing this standard as it believes this may impact on its financial reporting Management does not believe that other any pronouncement not yet effective but recently issued would, if adopted, have a material effect on the accompanying financial statements. |
Intangible Assets
Intangible Assets | 6 Months Ended |
Jun. 30, 2021 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Intangible Assets | Note 3 Intangible Assets The Company has several classes of intangible assets. Except for Federal Communication Commission Licenses (“FCC”), the following intangible assets have finite useful lives and are amortized on a straight-line basis over their useful lives. Amortization starts when the asset is available for use. FCC licenses are considered indefinite-lived intangible assets which are not amortized but instead are tested at least annually for impairment. Schedule of Intangible Assets June 30, 2021 December 31, 2020 Cost Depreciation Net Cost Depreciation Net Tuffy Packs, LLC License $ 50,000 $ 50,000 $ - $ 50,000 $ 50,000 $ - Website for Casa-Zeta Jones Brand 10,000 - 10,000 10,000 - 10,000 Domain Name – Go.TV 100,000 - 100,000 - - - Customer lists 1,360,250 133,677 1,226,573 - - - Casa Zeta-Jones Brand License 488,094 135,255 352,839 488,094 64,687 423,407 Licenses 7,399,701 - 7,399,701 - - - $ 9,408,045 $ 318,932 $ 9,089,113 $ 548,094 $ 114,687 $ 433,407 |
Goodwill
Goodwill | 6 Months Ended |
Jun. 30, 2021 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill | Note 4 Goodwill Goodwill has been recorded on investment purchases where the value of the investment is greater than the identifiable net assets purchased. The amount is not amortized but rather is tested for impairment at least annually. Goodwill was recorded on the following investments: Schedule of Goodwill Purchase of 100% $ 4,224,962 KNLA- KNET acquisition 1,570,734 KVVV acquisition 708,630 Total $ 6,504,326 |
Equipment
Equipment | 6 Months Ended |
Jun. 30, 2021 | |
Property, Plant and Equipment [Abstract] | |
Equipment | Note 5 Equipment Equipment are amortized over their useful lives. Schedule of Equipment Cost Depreciation Net Transmitter 10 years $ 376,815 $ 6,530 $ 370,285 Antenna 10 years $ 103,275 $ 1,575 $ 101,700 Tech Equip 5 years $ 204,782 $ 2,724 $ 202,058 $ 684,872 $ 10,829 $ 674,043 |
Inventory
Inventory | 6 Months Ended |
Jun. 30, 2021 | |
Inventory Disclosure [Abstract] | |
Inventory | Note 6 Inventory Inventory consists of deposits for tooling, product tubes and bottles for the CZJ product lines. Inventories are stated at the lower of cost or net realizable value. As at June 30, 2021, inventory was $ 146,324 |
Investments
Investments | 6 Months Ended |
Jun. 30, 2021 | |
Investments, All Other Investments [Abstract] | |
Investments | Note 7 Investments Investments consists of deposits for the acquisitions of various television stations for which Sovryn has entered into and have not closed. As at June 30, 2021, the Company escrowed a total of $ 372,500 . As described in Note 11 Asset Purchase, 285,000 was escrowed for the W27EB Acquisition and $ 87,500 in the KYMU Acquisition. |
Right of Use Assets
Right of Use Assets | 6 Months Ended |
Jun. 30, 2021 | |
Leases [Abstract] | |
Right of Use Assets | Note 8 Right of Use Assets Sovryn has four ( 4 34 months 220.5 15 Schedule of Remaining Right of Use Assets Accumulated Amount Amortization Net Tower lease - 1 54.5 $ 266,442 $ 12,222 $ 254,220 Tower lease - 2 34 113,063 3,326 109,737 Generator lease 54.5 55,639 2,552 53,087 Studio lease 220.5 280,084 1,270 278,814 $ 715,228 $ 19,370 $ 695,858 The remaining lease liability at June 30, 2021 was $ 705,805 81,947 623,858 Schedule of Remaining Lease Liability 2021 2022 $ 182,421 2023 188,098 2024 180,708 2025 150,839 2026 83,061 Remaining 653,725 Lease obligations, net 1,438,852 Amt representing interest 733,047 Remaining lease liability 705,805 Less current portion 81,947 Non-current lease obligation $ 623,858 |
Accounts Payable and Accrued Li
Accounts Payable and Accrued Liabilities | 6 Months Ended |
Jun. 30, 2021 | |
Payables and Accruals [Abstract] | |
Accounts Payable and Accrued Liabilities | Note 9 Accounts Payable and Accrued Liabilities Accounts payable and accrued liabilities as of June 30, 2021 are summarized below: Schedule of Accounts Payable and Accrued Liabilities Jun 30, 2021 Dec 31, 2020 Audit fees $ 5,800 $ 25,800 Accounting fees 6,000 8,100 Legal fees 192,843 25,118 Office expenses 49,775 335 Consulting fees 50,000 - Lender’s fees 225,583 - Management fees - 3,000 Total $ 530,001 $ 62,353 |
License Agreements
License Agreements | 6 Months Ended |
Jun. 30, 2021 | |
License Agreements | |
License Agreements | Note 10 License Agreements A The Company entered into an exclusive product license agreement on September 16, 2016 with Tuffy Packs, LLC, a Texas corporation, to sell Ballistic Panels in certain countries, essentially in Europe. The license was for a period of two years 1. $ 10,000 2. An additional $ 15,000 30 days 3. A final payment of $ 25,000 90 days At December 31, 2018, the Company had paid $ 16,500 33,500 50,000 As a result of the failure to make payments as required under the agreement, the Company was informed on March 20, 2017, that going forward, the agreement would be on a non-exclusive basis. During the period ended March 31, 2021, the Company has terminated the business. B. On July 17, 2020, the Company entered into an acquisition agreement with Luxurie Legs, LLC, a Delaware corporation, to acquire the Casa Zeta-Jones Brand license agreement. The license agreement, as amended, grants the Company the worldwide rights to promote and sell certain products, and license the rights to manufacture, promote and sell such products under the brand Casa Zeta-Jones and more. The license agreement purchase included the issuance of 92,999 343,094 10,000 nil 45,000 100,000 The values were based on the licensor obtaining 95 50 The Company is subject to the following terms: a. A 3.5 year i. Year 1: execution – December 31, 2021 ii. Year 2: January 1, 2022 – December 31, 2022 iii. Year 3: January 1, 2023 – December 31, 2023 b. Marketing date November 2020, On Shelf Date February 15, 2021. c. Royalty payments with a rate of 8 d. Advance prepayment of $ 150,000 i. $ 50,000 ii. $ 50,000 iii. $ 50,000 e. Guaranteed minimum sales and guaranteed minimum royalties: Schedule of Guaranteed Minimum Royalties Year Guaranteed Minimum Royalties Guaranteed Minimum Sales i. 7/17/20 – 12/31/21 $ 250,000 $ 3,200,000 ii. 1/1/22 – 12/31/22 $ 250,000 $ 3,200,000 iii. 1/1/23 – 12/31/23 $ 250,000 $ 3,200,000 f. The Company to provide the Licensor with 50 gift sets of Licensed Products annually. |
Securities Exchange Agreements
Securities Exchange Agreements | 6 Months Ended |
Jun. 30, 2021 | |
Securities Exchange Agreements | |
Securities Exchange Agreements | Note 11 Securities Exchange Agreements Sovryn Holdings, Inc. The Company entered into a Securities Exchange Agreement on February 16, 2021 with Sovryn, a Delaware corporation and acquire 100 100 1,000 0.001 0.0001 500,000,000 6,000,000,000 2,305,000,000 59 4,225,062 4,224,962 Posto Del Sole, Inc The Company entered into a Securities Exchange Agreement on September 25, 2020 with Posto Del Sole Inc. (“PDS”) a New York corporation, to acquire 51 % of the shares of PDS and in return, the Company will issue 10,000 Preferred Series C shares. (See Note 11). As part of the agreement, the Company is to provide monthly investments to a total aggregate of $ 1,000,000 during the twelve-month period following the closing. PDS had 60 days from closing to provide the necessary financial statements and notes in order to satisfy regulatory requirements and disclosures. As at December 31, 2020 PDS had not provided any such information, the Securities Exchange Agreement had not closed and as a result, the Company wrote off advances of $ 165,000 that were made to PDS in anticipation of closing. The Company has rescinded the agreement and has no plans to move forward with the acquisition. |
Asset Purchase
Asset Purchase | 6 Months Ended |
Jun. 30, 2021 | |
Asset Purchase | |
Asset Purchase | Note 12 Asset Purchase KNLA-KNET Acquisition On February 17, 2021, Sovryn entered into an asset purchase agreement (the “Asset Purchase Agreement”) with NRJ TV III CA OPCO, LLC, a Delaware limited liability company (“OpCo”) and NRJ TV III CA License Co., LLC, a Delaware limited liability company (together with OpCo, “Sellers”). Upon the terms and subject to the satisfaction of the conditions described in the Asset Purchase Agreement, Sovryn will acquire the licenses and Federal Communications Commission (“FCC”) authorizations to the KNET-CD and KNLA-CD Class A television stations owned by the Sellers (the “Acquired Stations”), certain tangible personal property, real property, contracts, intangible property, files, claims and prepaid items together with certain assumed liabilities in connection with the Acquired Stations (the “Asset Sale Transaction”). As consideration for the Asset Sale Transaction, Sovryn has agreed to pay the Sellers $ 10,000,000 , $ 2,000,000 of which was paid to Sellers upon execution of the Asset Purchase Agreement, as follows: (i) an escrow deposit of $ 1,000,000 to be held in escrow pursuant to the terms of an escrow agreement entered into between Sovryn and the Sellers (the “Escrow Fee”) and (ii) a non-refundable option fee of $ 1,000,000 (the “Option Fee”). The closing of the Asset Sale Transaction (the “Closing”) was subject to, among other things, consent by the FCC to the assignment of the FCC authorizations pertaining to the Acquired Stations, from Sellers to Sovryn (the “FCC Consent”). The Closing shall occur no more than five (5) business days following the later of (i) the date on which the FCC Consent has been granted and (ii) the other conditions to the Closing set forth in the Asset Purchase Agreement. The asset purchase was consummated on April 19, 2021. KVVV Acquisition On March 14, 2021 Sovryn entered into an asset purchase agreement (the “KVVV Asset Purchase Agreement”) with Abraham Telecasting Company, LLC, a Texas limited liability company (the “Houston Seller”). Upon the terms and subject to the satisfaction of the conditions described in the KVVV Asset Purchase Agreement, Sovryn agreed to acquire the licenses and Federal Communications Commission (“FCC”) authorizations to the KVVV-LD low power television station owned by the Houston Seller (the “Houston Acquired Station”), certain tangible personal property, certain real property leases, contracts, intangible property, files, claims and prepaid items together with certain assumed liabilities in connection with the Houston Acquired Station (the “KVVV Asset Sale Transaction”). As consideration for the KVVV Asset Sale Transaction, Sovryn has agreed to pay the Houston Seller $ 1,500,000 87,500 The closing of the KVVV Asset Sale Transaction (the “KVVV Closing”) is subject to, among other things, consent by the FCC to the assignment of the FCC authorizations pertaining to the Houston Acquired Station, from the Houston Seller to Sovryn (the “Houston FCC Consent”). The KVVV Closing shall occur no more than ten (10) business days following the later to occur of (i) the date on which the Houston FCC Consent has been granted and (ii) the other conditions to the KVVV Closing set forth in the KVVV Asset Purchase Agreement. The closing of the KVVV Asset Sale Transaction consummated on June 1, 2021. KMYU Acquisition On March 29, 2021, Sovryn, entered into an asset purchase agreement (the “KYMU Asset Purchase Agreement”) with Seattle 6 Broadcasting Company, LLC, a Washington limited liability company (the “Seattle Seller”). Upon the terms and subject to the satisfaction of the conditions described in the KYMU Asset Purchase Agreement, Sovryn agreed to acquire the licenses and FCC authorizations to the KYMU-LD low power television station owned by the Seattle Seller (the “Seattle Acquired Station”), certain tangible personal property, certain real property leases, contracts, intangible property, files, claims and prepaid items together with certain assumed liabilities in connection with the Seattle Acquired Station (the “KYMU Asset Sale Transaction”). As consideration for the Seattle Asset Sale Transaction, Sovryn has agreed to pay the Seattle Seller $ 1,750,000 87,500 The closing of the KYMU Asset Sale Transaction (the “KMYU Closing”) is subject to, among other things, consent by the FCC to the assignment of the FCC authorizations pertaining to the Seattle Acquired Station, from Seattle Seller to Sovryn (the “Seattle FCC Consent”). The Seattle Closing shall occur no more than ten (10) business days following the later to occur of (i) the date on which the Seattle FCC Consent has been granted and (ii) the other conditions to the KMYU Closing set forth in the KMYU Asset Purchase Agreement. As at June 30, 2021, the transaction has not closed. W27EB Acquisition On June 9, 2021, Sovryn entered into an asset purchase agreement (the “W27EB Asset Purchase Agreement”) with Local Media TV Chicago, LLC, a Delaware limited liability company (the “Chicago Seller”). Upon the terms and subject to the satisfaction of the conditions described in the W27EB Asset Purchase Agreement, Sovryn agreed to acquire the licenses and Federal Communications Commission (“FCC”) authorizations to the W27EB-LD low power television station owned by the Chicago Seller (the “Chicago Acquired Station”), certain tangible personal property, certain real property leases, contracts, intangible property, files, claims and prepaid items together with certain assumed liabilities in connection with the Chicago Acquired Station (the “W27EB Asset Sale Transaction”). As consideration for the W27EB Asset Sale Transaction, Sovryn has agreed to pay the Chicago Seller $ 5,700,000 in cash, $ 285,000 of which was paid to the Chicago Seller and to be held in escrow pursuant to the terms of an escrow agreement entered into between Sovryn and the Chicago Seller (the “W27EB Escrow Fee”). The closing of the W27EB Asset Sale Transaction (the “W27EB Closing”) is subject to, among other things, consent by the FCC to the assignment of the FCC authorizations pertaining to the Chicago Acquired Station, from the Chicago Seller to Sovryn (the “Chicago FCC Consent”). The W27EB Closing shall occur no more than the three (3) business days following the later to occur of (i) the date on which the Chicago FCC Consent has been granted and (ii) the other conditions to the W27EB Closing set forth in the W27EB Asset Purchase Agreement. As at June 30, 2021, the transaction has not closed. KPHE Acquisition On July 13, 2021, Sovryn entered into an asset purchase agreement (the “KPHE Asset Purchase Agreement”) with Lotus TV of Phoenix LLC, an Arizona limited liability company (the “Phoenix Seller”). Upon the terms and subject to the satisfaction of the conditions described in the KPHE Asset Purchase Agreement, Sovryn agreed to acquire the licenses and Federal Communications Commission (“FCC”) authorizations to the KPHE-LD low power television station owned by the Phoenix Seller (the “Phoenix Acquired Station”), certain tangible personal property, certain real property leases, contracts, intangible property, files, claims and prepaid items together with certain assumed liabilities in connection with the Phoenix Acquired Station (the “KPHE Asset Sale Transaction”). As consideration for the KPHE Asset Sale Transaction, Sovryn has agreed to pay the Phoenix Seller $ 2,000,000 100,000 The closing of the KPHE Asset Sale Transaction (the “KPHE Closing”) is subject to, among other things, consent by the FCC to the assignment of the FCC authorizations pertaining to the Phoenix Acquired Station, from the Phoenix Seller to Sovryn (the “Phoenix FCC Consent”). The KPHE Closing shall occur no more than the three (3) business days following the later to occur of (i) the date on which the Phoenix FCC Consent has been granted and (ii) the other conditions to the KPHE Closing set forth in the KPHE Asset Purchase Agreement. KVSD Acquisition On August 31, 2021, Sovryn entered into an asset purchase agreement (the “KVSD Asset Purchase Agreement”) with D’Amico Brothers Broadcasting Corp., a California company (the “San Diego Seller”). Upon the terms and subject to the satisfaction of the conditions described in the KVSD Asset Purchase Agreement, Sovryn agreed to acquire the licenses and Federal Communications Commission (“FCC”) authorizations to the KVSD-LD low power television station owned by the San Diego Seller (the “San Diego Acquired Station”), certain tangible personal property, certain real property leases, contracts, intangible property, files, claims and prepaid items together with certain assumed liabilities in connection with the San Diego Acquired Station (the “KVSD Asset Sale Transaction”). As consideration for the KVSD Asset Sale Transaction, Sovryn has agreed to pay the San Diego Seller $ 1,500,000 in cash, $ 75,000 of which was paid to the San Diego Seller (subsequent to the period end) and to be held in escrow pursuant to the terms of an escrow agreement entered into between Sovryn and the San Diego Seller (the “KVSD Escrow Fee”). The closing of the KVSD Asset Sale Transaction (the “KVSD Closing”) is subject to, among other things, consent by the FCC to the assignment of the FCC authorizations pertaining to the San Diego Acquired Station, from the San Diego Seller to Sovryn (the “San Diego FCC Consent”). The KVSD Closing shall occur no more than the three (3) business days following the later to occur of (i) the date on which the San Diego FCC Consent has been granted and (ii) the other conditions to the KVSD Closing set forth in the KVSD Asset Purchase Agreement. |
Note Payable
Note Payable | 6 Months Ended |
Jun. 30, 2021 | |
Debt Disclosure [Abstract] | |
Note Payable | Note 13 Note Payable The Company had one note payable that was accruing interest at 5 June 30, 2021 Each Series D Convertible Preferred Stock shall be convertible into common stock of the Company at a ratio of 1,000 Schedule of Notes Payable February 16, 2021 December 31, 2020 Note payable bearing interest at 5 $ 20,000 $ 20,000 Accrued interest thereon 216 486 $ 20,216 $ 20,486 |
Convertible Notes and Accrued I
Convertible Notes and Accrued Interest Payable | 6 Months Ended |
Jun. 30, 2021 | |
Convertible Notes And Accrued Interest Payable | |
Convertible Notes and Accrued Interest Payable | Note 14 Convertible Notes and Accrued Interest Payable On February 16, 2021, the Company settled the following debts and interests thereof including the note payable above (Note 8), with 230,00 1,000 Schedule of Convertible Notes and Accrued Interest Payable Face Value Conversion Rate Interest rate Due Date Accrued Interest Carrying Value Feb 15 2021 Total Dec 31 2020 Total $ 10,000 $ 0.005 - - $ - $ 500 $ 500 $ 500 (a) $ 85,000 $ 0.01 - - - 50,800 50,800 50,800 (b) $ 50,000 $ 0.01 10 % 05/01/2022 2,500 50,000 52,500 52,500 (c) $ 5,000 $ 0.01 10 % 05/01/2022 259 5,000 5,259 5,259 (d) $ 12,500 $ 0.01 10 % 6/23/2021 457 7,500 7,957 7,957 (d) $ 20,000 $ 0.04 - - - 20,000 20,000 20,000 $ 68,490 $ 0.05 - - - 68,490 68,490 68,490 (e) $ 25,000 $ 0.05 12 % - 20,056 25,000 45,056 44,682 (f) $ 25,000 $ 0.05 8 % - 32,047 25,000 57,047 56,797 (f) $ 23,622 $ 0.05 5 % - 16,388 23,622 40,010 39,551 (f) $ 684,000 $ 0.05 10 % Various 22,066 220,799 242,865 154,444 (g) $ 75,000 $ 10 % Various 1,788 55,331 57,119 51,771 (h) $ 95,561 $ 552,042 647,603 $ 552,751 Less long-term portion 57,759 Current portion $ 647,603 $ 494,992 All notes are unsecured and, except where specifically noted, are due on demand. Except for notes denoted below under (e). No conversion shall result in the Holder holding in excess of 9.99% of the total issued and outstanding common stock of the Company at any time. (a) On October 28, 2020, $ 9,500 1,900,000 (b) On July 23, 2020, $ 16,900 950 1,785,000 17,300 1,730,000 (c) The notes are convertible into common stock at the discretion of the Holder at the lesser of $ 0.01 50 20 (d) The notes are convertible into common stock at the discretion of the Holder at 50 30 (e) Included in this debt is $ 490 (f) On April 2, 2020, these notes terms were changed from non-convertible to convertible at $ 0.05 1 9.99 6,164 6,146 (g) Based on the intrinsic value of the beneficial conversion feature, as per FASB topic ASC 470-20 Debt with Conversion and other Options, Schedule of Convertible Notes Allocated to Amortized Accrued Equity Due Date as interest at 10% Total $ 30,000 03-31-2021 $ 24,293 $ 1,627 $ 25,920 100,000 07-20-2021 56,051 5,726 61,777 60,000 08-31-2021 27,406 2,860 30,266 20,000 09-30-2021 7,688 816 8,504 60,000 10-31-2021 18,715 2,022 20,737 50,000 10-31-2021 14,504 1,507 16,011 50,000 10-31-2021 14,504 1,507 16,011 10,000 11-04-2021 2,671 277 2,948 110,000 11-18-2021 25,476 2,622 28,098 55,000 11-19-2021 12,262 1,310 13,572 27,000 12-31-2021 4,292 481 4,773 27,000 12-31-2021 4,292 481 4,773 20,000 12-31-2021 2,976 318 3,294 30,000 12-31-2021 3,747 382 4,129 17,500 01-31-2022 961 65 1,026 17,500 01-31-2022 961 65 1,026 $ 684,000 $ 220,799 $ 22,067 $ 242,865 (h) Based on the intrinsic value of the beneficial conversion feature, as per FASB topic ASC 470-20 Debt with Conversion and other Options, 70 20 25,000 Schedule of Convertible Notes Allocated to equity Due date Amortized as Interest Accrued Interest at 10% Total $ 10,714 07-31-2021 $ 4,397 $ 822 $ 19,505 10,714 08-31-2021 3,279 610 18,175 7,468 09-30-2021 1,501 404 19,438 $ 28,896 $ 9,177 $ 1,836 $ 57,118 |
Convertible Notes Payable and I
Convertible Notes Payable and Interest Payable | 6 Months Ended |
Jun. 30, 2021 | |
Convertible Notes Payable And Interest Payable | |
Convertible Notes Payable and Interest Payable | Note 15 – Convertible Notes Payable and Interest Payable Arena Investors LP convertible promissory notes On February 17, 2021, the Company entered into a securities purchase agreement with funds affiliated with Arena Investors LP (the “Investors”) pursuant to which it issued convertible notes in an aggregate principal amount of $ 16.5 15 192,073,017 1,000 The Notes each have a term of thirty-six months and mature on February 17, 2023 11 The Notes are convertible at any time, at the holder’s option, into shares of our common stock equal to the lesser of: (i) the amount determined by dividing (A) $50,000,000, by (B) the total number of shares of preferred stock, Common Stock and Common Stock Equivalents outstanding on such Conversion Date (assuming full conversion or exercise of all then issued and outstanding securities of the Company that are exercisable for or convertible into such equity securities of the Company) and (ii) $1.00, subject to adjustment herein (the “Conversion Price”), subject to certain beneficial ownership limitations (with a maximum ownership limit of 9.99%). The conversion price is also subject to adjustment due to certain events, including stock dividends, stock splits and in connection with the issuance by the Company of common stock or common stock equivalents at an effective price per share lower than the conversion price then in effect. 5 0.015 At June 30,2021, the loan summary was: Summary of Loan Face Loan Amortized Carrying Accrued Value Proceeds Interest Value Interest 11% Total $ 16,500,000 $ 15,00,0000 $ 151,122 $ 15,151,122 $ 453,750 $ 15,604,872 As part of the agreement with Arena Partners, the Company issued 192,073,016 Each Warrant is exercisable for a period of five (5) years from the date of issuance at an initial exercise price to (i) 125%, times (ii) the amount determined by dividing (A) $50,000,000, by (B) the total number of shares of preferred stock, Common Stock and Common Stock Equivalents outstanding on such Conversion Date (assuming full conversion or exercise of all then issued and outstanding securities of the Company that are exercisable for or convertible into such equity securities of the Company), subject to adjustment herein, subject to certain beneficial ownership limitations (with a maximum ownership limit of 9.99%). The Series F Preferred Stock have no voting rights and shall convert into 4.9% of our issued and outstanding shares of common stock on a fully diluted basis upon Shareholder Approval. Each of the Investors have contractually agreed to restrict their ability to exercise the Warrants and convert the Notes such that the number of shares of the Company common stock held by each of them and their affiliates after such conversion or exercise does not exceed 9.99% of the Company’s then issued and outstanding shares of common stock. |
Related Party
Related Party | 6 Months Ended |
Jun. 30, 2021 | |
Related Party Transactions [Abstract] | |
Related Party | Note 16 Related Party On September 28, 2020, the Company entered into a renewable employment agreement with the Jeff Canouse, former President and CEO of the Company as described in Note 20 , Commitments 48,000 34,000 24,000 On April 7, 2021, the Company issued 1,500,000 100 1,500 The Company entered into a consulting agreement with a director of the Company, Warren Zenna of Zenna Consulting Group to provide oversight of marketing and communications services. The agreement commenced March 1, 2021 through to December 31, 2021. The Company pays Zenna Consulting Group a monthly retainer of $ 15,000 . As of June 30, 2021, the Company paid $ 57,000 in fees. Philip Falcone is the President and CEO of the Company who currently holds 100 Series B Preferred Super Voting shares which he is entitled to 51% voting rights no matter how many shares of common stock or other voting stock of the Company are issued or outstanding in the future, such that he shall always have majority voting control of the Company. 135,000 85,388 |
Common Stock
Common Stock | 6 Months Ended |
Jun. 30, 2021 | |
Equity [Abstract] | |
Common Stock | Note 17 Common Stock During the period ended June 30, 2021, the Company issued 1,500,000 100 1,500 The Company issued 192,073,016 The warrants are exercisable for a period of 5 The following common stock transactions occurred during the year ended December 31, 2020: On July 23, 2020, the Company issued 1,785,000 16,900 0.01 950 17,850 On October 28, 2020, the Company issued 1,900,000 9,500 0.005 On November 2, 2020, the Company issued 1,730,000 17,300 0.01 There are no shares subject to warrants or options as of December 31, 2020. |
Preferred Shares
Preferred Shares | 6 Months Ended |
Jun. 30, 2021 | |
Equity [Abstract] | |
Preferred Shares | Note 18 Preferred Shares Series A 3% Convertible Preferred Stock, par value $0.001 with a stated value of $100 per share There are 100,000 9.99 3420 360,000,000 On July 17, 2020, 92,999 343,094 The acquisition cost was derived using the current market price of $0.04 x 95% of the number of the issued and outstanding shares of the Company at the time (18,057,565) x 50% of the value. On February 16, 2021, the Company cancelled all the Preferred Series A shares. In exchange, the holders of Series A Preferred shares received option agreements to purchase shares of the wholly owned subsidiary, CZJ License, Inc. at $ 10 300,000 As at June 30, 2021, there were Nil Series B Super Voting Preferred Stock, par value $0.001 There are 100 51 The Series B Super Voting Preferred Stockholder is entitled to 51% voting rights no matter how many shares of common stock or other voting stock of the Company are issued or outstanding in the future, such that the holder of Series B Super Voting Preferred Stock shall always have majority control of the Company. On July 17, 2020, 100 The Series B Super Voting Preferred Stock was valued at par at $Nil. Although the Series B Super Voting Preferred Stock is entitled to 51% voting rights as described above, the stock has no dividend rate nor a conversion feature. On February 17, 2021, the 100 Series C 2% Convertible Preferred Stock, par value $0.001 with a stated value of $100 per share There are 10,000 9.99 Holders of Series C 2% Preferred Stock shall be entitled to receive, when and as declared, dividends equal to 2% per annum on the stated value, payable in additional shares of Series C Preferred Stock. So long as any shares of Series C Preferred Stock remain outstanding, neither the Company nor any subsidiary thereof shall, without the consent of the Holders of 80% of the shares of Series C Preferred Stock then outstanding, redeem, repurchase or otherwise acquire directly or indirectly any Junior Securities nor shall the Company directly or indirectly pay or declare or make any distribution upon, nor shall any distribution be made in respect of, any Junior Securities, nor shall any monies be set aside for or applied to the purchase or redemption of any Junior Securities. 100 As at June 30, 2021, no Series D Convertible Preferred Stock, par value $0.001 with a stated value of $3.32 per share There are 230,000 4.99 3.32 1,000 On February 16, 2021, all outstanding debts including note payables, convertible notes payable, discounts, accrued interests and thereof totaling $ 688,214 As at June 30, 2021, 230,000 Series E Convertible Preferred Stock, par value $0.001 with a stated value of $1,000 per share There are 1,000 1,000 On September 16, 2021, the conversion rate for each share of Series E Preferred Stock was amended to equal (i)(a) 56.60% multiplied by, (b) the Fully-Diluted shares as of the Approval Date, divided by (ii) the total number of shares of Series E, (iii) rounded to the nearest thousandths place. The total number of Fully-Diluted Shares shall be set as of, and shall not change after the Approval Date. 2,243,888,889 On February 16, 2021, the Company entered into a Share Exchange Agreement with Sovryn Holdings Inc. (See Note 5). The Company issued 1,000 Series E convertible preferred shares to the shareholders of Sovryn Holdings Inc. valued at $4,225,062 (23,472,565 x $0.20 x 90%). The valuation was based on the market value of the shares of the Company at the date of the transaction. As at June 30, 2021, 1,000 On September 16, 2021, the Convertible Preferred Series E Holders entered into an Exchange Agreement whereby the aggregate 1,000 1,152,500 1,091,388,889 Series E-1 Convertible Preferred Stock, par value $0.001 with a stated value of $0.87 per share There are 1,152,500 0.87 Each share of Series E-1 Preferred Stock may be converted to 1,000 Series F Convertible Preferred Stock, par value $0.001 with a stated value of $1 per share There are 1,000 1 On September 16, 2021, the conversion rate for each share of Series F Preferred Stock was amended to equal (i)(a) 4.84% multiplied by, (b) the Fully-Diluted shares as of the Approval Date, divided by (ii) the total number of shares of Series F, (iii) rounded to the nearest thousandths place. The total number of Fully-Diluted Shares shall be set as of, and shall not change after the Approval Date. 192,073,017 shares of common stock on the Approval Date. The Fully-Diluted means the aggregate of (A) the total number of shares of Common Stock outstanding as of such date, (B) the number of shares of Common Stock (including all such Common Stock equivalents) into which all Convertible Securities outstanding as of such date could be converted or exercised, and (C) the number of shares of Common Stock (including all such Common Stock equivalents) issuable upon exercise of all Options outstanding as of such date of exercise, divided by 0.9516. As at June 30, 2021, 1,000 Series G Convertible Preferred Stock, par value $0.001 with a stated value of $1,000 per share On August 20, 2021, the Series G Convertible Preferred Stock was amended. There are now 4600 designated and authorized Series E convertible preferred stock with a 4.99% conversion cap which may be increased to a maximum of 9.9 % by holder by written notice to the Company. There is a stated value of $ 1,000 per share, subject to adjustment for stock splits, stock dividends, recapitalizations, reorganizations, reclassifications, combinations, subdivisions or other similar events occurring after the date which the Series G are issued. Series G are ranked as a Junior Preferred Stock. It has voting rights equal to the number of shares of common stock into which the Series G would be convertible on the record date for the vote or consent of stockholders, and shall otherwise have voting rights and powers equal to the voting rights and powers of common stock. To the extent that Series G votes separately as a class or series as applicable, is required to authorize a given action of the Company, the affirmative vote or consent of the holders of a majority of the shares of the outstanding Series G, shall constitute the approval of such action by both the class or the series as applicable. To the extent that Series G are entitled to vote on matters with holders of shares of Common Stock, voting together as one class, each share of Series G shall entitle the Holder thereof to cast that number of votes per share as is equal to the number of shares of Common Stock into which it is then convertible using the record date as of which the Conversion Rate is calculated. Holders of Series G shall be entitled to written notice of all stockholder meetings or written consents with respect to which they would be entitled by Vote. As long as any shares of Series G are outstanding, the Company shall not, without the affirmative vote of the Holders of all the then outstanding shares of Series G, (a) alter or change adversely the powers, preferences or rights given to the Series G or alter or amend the Certificate of Designations, (b) amend its articles of incorporation or other charter documents in any manner that adversely affects any rights of the Holder, or (c) enter into any agreement with respect to any of the foregoing. On September 16, 2021, the conversion rate for each share of Series G Preferred Stock was amended to equal (i)(a) 6.45% multiplied by, (b) the Fully-Diluted shares as of the Approval Date, divided by (ii) the total number of shares of Series G, (iii) rounded to the nearest thousandths place. The total number of Fully-Diluted Shares shall be set as of, and shall not change after the Approval Date. 255,555,556 As at June 30, 2021, no 4,173,000 427,000 |
Warrants
Warrants | 6 Months Ended |
Jun. 30, 2021 | |
Warrants | |
Warrants | Note 19 Warrants On February 17, 2021, the Company provided Arena Partners LLP with 192,073,016 Each Warrant is exercisable for a period of five ( 5 |
Options
Options | 6 Months Ended |
Jun. 30, 2021 | |
Options | |
Options | Note 20 Options On February 16, 2021, the Company cancelled all the Series A Preferred shares and offered holders of Series A Preferred shares option agreements to purchase up to 300,000 10 As at June 30, 2021, no |
Commitments
Commitments | 6 Months Ended |
Jun. 30, 2021 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments | Note 21 Commitments The Company entered into a one-year employment agreement with Jeffrey Canouse on September 28, 2020 as President and Chief Executive Officer. The term may be renewed or non-renewed with not less than thirty days’ notice prior to the expiration of the initial employment term. The employment may be terminated by death or disability, terminated with or without cause or terminated by the employee. If the employee is terminated by the Company without cause or by the employee for good reason, then the Company will continue to pay his base salary of $ 8,000 Beginning on the first anniversary date of the initial salary increase and continue on each anniversary of the increase date, the base salary shall be increased by an amount not less than 5% times the base salary in effect, plus any additional amount as determined by the Company’s Board of Directors. 48,000 34,000 24,000 The Company entered into a one-year employment agreement with Walter Hoelzel on September 29, 2020 as Chief Marketing Officer. The term may be renewed or non-renewed with not less than thirty days’ notice prior to the expiration of the initial employment term. The employment may be terminated by death or disability, terminated with or without cause or terminated by the employee. If the employee is terminated by the Company without cause or by the employee for good reason, then the Company will continue to pay his base salary of $ 5,000 30,000 25,000 15,000 The Company entered into a one-year employment agreement with Stuart Sher on September 29, 2020 as Chief Creative Officer. The term may be renewed or non-renewed with not less than thirty days’ notice prior to the expiration of the initial employment term. The employment may be terminated by death or disability, terminated with or without cause or terminated by the employee. If the employee is terminated by the Company without cause or by the employee for good reason, then the Company shall continue to pay his base salary for the remainder of the employment term or renewal term. As of June 30, 2021, Sher had received $ 30,000 25,000 15,000 The Company entered into a consulting agreement with Virtue Development Company on September 29, 2020 for project consultancy. The consulting agreement is for 6 months with 6 months renewal options at the beginning of the 5 th 4,250 25,500 12,750 The Company entered into a consulting agreement with Oscaleta Partners LLC on November 1, 2020 as project manager. The consulting agreement may be terminated by either party at the end of the initial 6 months term by giving 30 days written notice to the other party or at any time with cause. The monthly compensation is $ 25,000 75,000 The Company entered into a one-year consulting agreement with Bernt Ullmann on November 23, 2020 to provide market exposure services. The monthly compensation is $ 5,000 30,000 5,000 . On February 17, 2021, the Company and its subsidiaries entered into a Security Agreement and a Guaranty Agreement with Arena Investors LP, for securing the loans evidenced by the $ 16.5 The Company entered into a consulting agreement with a director of the Company, Warren Zenna of Zenna Consulting Group to provide oversight of marketing and communications services. The agreement commenced March 1, 2021 through to December 31, 2021. The Company pays Zenna Consulting Group a monthly retainer of $ 15,000 57,000 The Company entered into a one-year employment agreement with Henry Turner on May 15, 2021 as the Company’s Chief Technology Officer and Chief Operations Officer. Mr. Turner may be terminated at any time, with or without reason, with notice. His annual base compensation is $ 150,000 23,077 |
Additional Cash Flow Informatio
Additional Cash Flow Information | 6 Months Ended |
Jun. 30, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Additional Cash Flow Information | Note 22 Additional Cash Flow Information During the six months ended June 30, 2021, the following transaction did not involve cash: (a) Demand notes, convertible notes and interest with a carrying value of $ 668,214 230,000 (b) $ 715,228 (c) 1,000 4,225,062 4,224,962 100 |
Subsequent Events
Subsequent Events | 6 Months Ended |
Jun. 30, 2021 | |
Subsequent Events [Abstract] | |
Subsequent Events | Note 23 Subsequent Events Subsequent to June 30, 2021, the Company received $ 427,000 On July 13, 2021 Sovryn Holdings Inc. entered into an agreement with Lotus TV of Phoenix LLC for the purchase of KPHE-LD and paid a deposit of $ 100,000 On August 20, 2021, the Company amended the authorized capital of the Convertible Preferred Series G shares from 3,000 4,600 On August 31, 2021, Sovryn Holdings Inc. entered into an agreement with D’Amico Brothers Broadcasting Corp. for the purchase of KVSD-LD and paid a deposit of $ 75,000 The President and director of CZJ License Inc. loaned the Company $ 33,144 The CEO and director of Madison Technologies was advanced a further $ 89,573 The Company received $ 500,000 0.021 On September 16, 2021, the Company filed a new series of Preferred Series E-1 of which 1,152,500 0.001 0.87 On September 16, 2021, the Holders of Convertible Preferred Series E shares entered into an exchange agreement to exchange the 1,000 1,152,500 1,091,388,889 On September 16, 2021, the Company amended the conversion rates of Preferred Series E, F and G shares (see Note 18). |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2021 | |
Accounting Policies [Abstract] | |
Basis of presentation | Basis of presentation While the information presented is unaudited, it includes all adjustments, which are, in our opinion of management, necessary to present fairly the financial position, result of operations and cashflows for the interim period presented in accordance with accounting principles generally accepted in the United States of America. All adjustments are of a normal recurring nature. These consolidated interim financial statements should be read in conjunction with the Company’s December 31, 2020 annual financial statements. Operating results for the three months ended March 31, 2020 are not necessarily indicative of the results that can be expected for the period ended December 31, 2021. The accompanying condensed consolidated interim financial statements include the accounts of the Company and its two wholly owned subsidiaries, CZJ License, Inc. (“CZJ”) and Sovryn Holdings, Inc. (“Sovryn”) |
Use of estimates | Use of estimates The preparation of the consolidated interim financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Management makes its best estimate of the ultimate outcome for these items based on historical trends and other information available when the financial statements are prepared. Changes in estimates are recognized in accordance with the accounting rules for the estimate, which is typically in the period when new information becomes available to management. Actual results could differ from those estimates. |
Revenue Recognition | Revenue Recognition Revenues derived from the leasing of television station channels are recognized when services are provided. These revenues are billed in advance, arrears and/or are prepaid. The performance obligation is the monthly services rendered. At the moment, the Company has one main revenue source which is leasing of television channels. Where there is a leasing contract for channels, the Company bills monthly for its services as rendered. Where there is no contract, the revenue is recognized as provided. |
Accounts Receivables | Accounts Receivables Trade accounts receivable are stated at the amount the Company expects to collect. Management considers the following factors when determining the collectability of specific customer accounts: customer credit worthiness, past transaction history, current economic industry trends and changes in customer payment terms. Past due balances over 90 days and other higher risk amounts are reviewed individually for collectability. Based on the management’s assessment, the Company provides for estimated uncollectible amounts through a charge to earnings and a credit to a valuation allowance. Balances that remain outstanding after the Company has used reasonable collection efforts are written off through a charge to the valuation allowance and a credit to accounts receivable. As of June 30, 2021, the Company believes there are no receivables considered uncollectible. |
Operating Leases | Operating Leases In February 2016, the FASB issued ASU 2016-02, Leases (“Topic 842”). The new standard establishes a right-of-use model that requires a lessee to record a right-of-use asset and a lease liability on the balance sheet for all leases with terms longer than 12 months. For leases with an initial term of 12 months or less, a lessee is permitted to make an accounting policy election by class of underlying asset not to recognize lease assets and lease liabilities. If a lessee makes this election, it should recognize lease expense for such leases generally on a straight-line basis over the term of the lease. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition. Similarly, lessors will be required to classify leases as sales-type, finance or operating, with classification affecting the pattern of income recognition. Classification for both lessees and lessors will be based on an assessment of whether risks and rewards as well as substantive control have been transferred through a lease contract. The new standard is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years, with early adoption permitted. The Company adopted the new standard April 19, 2021. The Company has elected not to recognize lease assets and lease liabilities for leases with an initial term of 12 months or less. |
Segment Reporting | Segment Reporting The Company reports segment information based on the “management” approach. The management approach designates the internal reporting used by management for making decisions and assessing performance of its corporation wide basis in comparison to its various businesses. The Company has three reportable segments. The business of CZJ, Sovryn and Madison Technologies Inc. The segments are determined based on several factors including the nature of products and services, nature of production processes and delivery channels, and rental of television stations. The operating segment’s performance is evaluated based on its segment income. Segment income is defined as the net sales less cost of sales, general and administrative expenses and does not include amortization of any sorts, stock-based compensation or any other charges (income), and interest. As at June 30, 2021, the Company reported revenues for its rental of radio stations. Schedule of Revenue For the six months ended Jun 30, 2021 Net Sales Madison Technologies Inc. $ - Sovryn Holdings Inc. 296,025 CZJ License Inc. - Total Sales $ 296,025 Total Assets Madison Technologies Inc. $ 9,373,786 Sovryn Holdings Inc. 13,451,820 CZJ License Inc. 509,162 Total Assets $ 23,334,768 |
Change in significant accounting policies | Change in significant accounting policies There has been no change in the accounting policies from those disclosed in the notes to the audited financial statements for the year ended December 31, 2020 except the ones disclosed here. |
Recently Issued Accounting Pronouncements | Recently Issued Accounting Pronouncements The Company adopts new pronouncements relating to generally accepted accounting principles applicable to the Company as they are issued, which may be in advance of their effective date. On August 5, 2020, the FASB issued a new standard (ASU 2020-06) to reduce the complexity of accounting for convertible debt. The standard is effective for Smaller Reporting Companies for fiscal years beginning after December 15, 2023. Management is reviewing this standard as it believes this may impact on its financial reporting Management does not believe that other any pronouncement not yet effective but recently issued would, if adopted, have a material effect on the accompanying financial statements. |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Accounting Policies [Abstract] | |
Schedule of Revenue | Schedule of Revenue For the six months ended Jun 30, 2021 Net Sales Madison Technologies Inc. $ - Sovryn Holdings Inc. 296,025 CZJ License Inc. - Total Sales $ 296,025 Total Assets Madison Technologies Inc. $ 9,373,786 Sovryn Holdings Inc. 13,451,820 CZJ License Inc. 509,162 Total Assets $ 23,334,768 |
Intangible Assets (Tables)
Intangible Assets (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule of Intangible Assets | Schedule of Intangible Assets June 30, 2021 December 31, 2020 Cost Depreciation Net Cost Depreciation Net Tuffy Packs, LLC License $ 50,000 $ 50,000 $ - $ 50,000 $ 50,000 $ - Website for Casa-Zeta Jones Brand 10,000 - 10,000 10,000 - 10,000 Domain Name – Go.TV 100,000 - 100,000 - - - Customer lists 1,360,250 133,677 1,226,573 - - - Casa Zeta-Jones Brand License 488,094 135,255 352,839 488,094 64,687 423,407 Licenses 7,399,701 - 7,399,701 - - - $ 9,408,045 $ 318,932 $ 9,089,113 $ 548,094 $ 114,687 $ 433,407 |
Goodwill (Tables)
Goodwill (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule of Goodwill | Schedule of Goodwill Purchase of 100% $ 4,224,962 KNLA- KNET acquisition 1,570,734 KVVV acquisition 708,630 Total $ 6,504,326 |
Equipment (Tables)
Equipment (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Property, Plant and Equipment [Abstract] | |
Schedule of Equipment | Equipment are amortized over their useful lives. Schedule of Equipment Cost Depreciation Net Transmitter 10 years $ 376,815 $ 6,530 $ 370,285 Antenna 10 years $ 103,275 $ 1,575 $ 101,700 Tech Equip 5 years $ 204,782 $ 2,724 $ 202,058 $ 684,872 $ 10,829 $ 674,043 |
Right of Use Assets (Tables)
Right of Use Assets (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Leases [Abstract] | |
Schedule of Remaining Right of Use Assets | Schedule of Remaining Right of Use Assets Accumulated Amount Amortization Net Tower lease - 1 54.5 $ 266,442 $ 12,222 $ 254,220 Tower lease - 2 34 113,063 3,326 109,737 Generator lease 54.5 55,639 2,552 53,087 Studio lease 220.5 280,084 1,270 278,814 $ 715,228 $ 19,370 $ 695,858 |
Schedule of Remaining Lease Liability | Schedule of Remaining Lease Liability 2021 2022 $ 182,421 2023 188,098 2024 180,708 2025 150,839 2026 83,061 Remaining 653,725 Lease obligations, net 1,438,852 Amt representing interest 733,047 Remaining lease liability 705,805 Less current portion 81,947 Non-current lease obligation $ 623,858 |
Accounts Payable and Accrued _2
Accounts Payable and Accrued Liabilities (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Payables and Accruals [Abstract] | |
Schedule of Accounts Payable and Accrued Liabilities | Accounts payable and accrued liabilities as of June 30, 2021 are summarized below: Schedule of Accounts Payable and Accrued Liabilities Jun 30, 2021 Dec 31, 2020 Audit fees $ 5,800 $ 25,800 Accounting fees 6,000 8,100 Legal fees 192,843 25,118 Office expenses 49,775 335 Consulting fees 50,000 - Lender’s fees 225,583 - Management fees - 3,000 Total $ 530,001 $ 62,353 |
License Agreements (Tables)
License Agreements (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
License Agreements | |
Schedule of Guaranteed Minimum Royalties | Schedule of Guaranteed Minimum Royalties Year Guaranteed Minimum Royalties Guaranteed Minimum Sales i. 7/17/20 – 12/31/21 $ 250,000 $ 3,200,000 ii. 1/1/22 – 12/31/22 $ 250,000 $ 3,200,000 iii. 1/1/23 – 12/31/23 $ 250,000 $ 3,200,000 |
Note Payable (Tables)
Note Payable (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Debt Disclosure [Abstract] | |
Schedule of Notes Payable | Schedule of Notes Payable February 16, 2021 December 31, 2020 Note payable bearing interest at 5 $ 20,000 $ 20,000 Accrued interest thereon 216 486 $ 20,216 $ 20,486 |
Convertible Notes and Accrued_2
Convertible Notes and Accrued Interest Payable (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Schedule of Convertible Notes and Accrued Interest Payable | Schedule of Convertible Notes and Accrued Interest Payable Face Value Conversion Rate Interest rate Due Date Accrued Interest Carrying Value Feb 15 2021 Total Dec 31 2020 Total $ 10,000 $ 0.005 - - $ - $ 500 $ 500 $ 500 (a) $ 85,000 $ 0.01 - - - 50,800 50,800 50,800 (b) $ 50,000 $ 0.01 10 % 05/01/2022 2,500 50,000 52,500 52,500 (c) $ 5,000 $ 0.01 10 % 05/01/2022 259 5,000 5,259 5,259 (d) $ 12,500 $ 0.01 10 % 6/23/2021 457 7,500 7,957 7,957 (d) $ 20,000 $ 0.04 - - - 20,000 20,000 20,000 $ 68,490 $ 0.05 - - - 68,490 68,490 68,490 (e) $ 25,000 $ 0.05 12 % - 20,056 25,000 45,056 44,682 (f) $ 25,000 $ 0.05 8 % - 32,047 25,000 57,047 56,797 (f) $ 23,622 $ 0.05 5 % - 16,388 23,622 40,010 39,551 (f) $ 684,000 $ 0.05 10 % Various 22,066 220,799 242,865 154,444 (g) $ 75,000 $ 10 % Various 1,788 55,331 57,119 51,771 (h) $ 95,561 $ 552,042 647,603 $ 552,751 Less long-term portion 57,759 Current portion $ 647,603 $ 494,992 All notes are unsecured and, except where specifically noted, are due on demand. Except for notes denoted below under (e). No conversion shall result in the Holder holding in excess of 9.99% of the total issued and outstanding common stock of the Company at any time. (a) On October 28, 2020, $ 9,500 1,900,000 (b) On July 23, 2020, $ 16,900 950 1,785,000 17,300 1,730,000 (c) The notes are convertible into common stock at the discretion of the Holder at the lesser of $ 0.01 50 20 (d) The notes are convertible into common stock at the discretion of the Holder at 50 30 (e) Included in this debt is $ 490 (f) On April 2, 2020, these notes terms were changed from non-convertible to convertible at $ 0.05 1 9.99 6,164 6,146 (g) Based on the intrinsic value of the beneficial conversion feature, as per FASB topic ASC 470-20 Debt with Conversion and other Options, (h) Based on the intrinsic value of the beneficial conversion feature, as per FASB topic ASC 470-20 Debt with Conversion and other Options, 70 20 25,000 |
Schedule of Convertible Notes | Schedule of Convertible Notes Allocated to Amortized Accrued Equity Due Date as interest at 10% Total $ 30,000 03-31-2021 $ 24,293 $ 1,627 $ 25,920 100,000 07-20-2021 56,051 5,726 61,777 60,000 08-31-2021 27,406 2,860 30,266 20,000 09-30-2021 7,688 816 8,504 60,000 10-31-2021 18,715 2,022 20,737 50,000 10-31-2021 14,504 1,507 16,011 50,000 10-31-2021 14,504 1,507 16,011 10,000 11-04-2021 2,671 277 2,948 110,000 11-18-2021 25,476 2,622 28,098 55,000 11-19-2021 12,262 1,310 13,572 27,000 12-31-2021 4,292 481 4,773 27,000 12-31-2021 4,292 481 4,773 20,000 12-31-2021 2,976 318 3,294 30,000 12-31-2021 3,747 382 4,129 17,500 01-31-2022 961 65 1,026 17,500 01-31-2022 961 65 1,026 $ 684,000 $ 220,799 $ 22,067 $ 242,865 |
Common Stock [Member] | |
Schedule of Convertible Notes | Schedule of Convertible Notes Allocated to equity Due date Amortized as Interest Accrued Interest at 10% Total $ 10,714 07-31-2021 $ 4,397 $ 822 $ 19,505 10,714 08-31-2021 3,279 610 18,175 7,468 09-30-2021 1,501 404 19,438 $ 28,896 $ 9,177 $ 1,836 $ 57,118 |
Convertible Notes Payable and_2
Convertible Notes Payable and Interest Payable (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Convertible Notes Payable And Interest Payable | |
Summary of Loan | At June 30,2021, the loan summary was: Summary of Loan Face Loan Amortized Carrying Accrued Value Proceeds Interest Value Interest 11% Total $ 16,500,000 $ 15,00,0000 $ 151,122 $ 15,151,122 $ 453,750 $ 15,604,872 |
Nature and Continuance of Ope_2
Nature and Continuance of Operations (Details Narrative) - USD ($) | Feb. 16, 2021 | Mar. 31, 2021 | Jun. 30, 2021 | Feb. 13, 2021 | Dec. 31, 2020 | Sep. 28, 2020 | Jul. 17, 2020 |
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||
Common stock, shares authorized | 500,000,000 | ||||||
Accumulated losses | $ 4,041,042 | $ 1,484,442 | |||||
CZJ License, Inc [Member] | |||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||
Share issued price per share | $ 10 | ||||||
Option Agreements [Member] | Series A Preferred Stock [Member] | CZJ License, Inc [Member] | |||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||
Share issued price per share | $ 10 | ||||||
Option Agreements [Member] | Series A Preferred Stock [Member] | CZJ License, Inc [Member] | Maximum [Member] | |||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||
Number of shares issued upon cancelled preferred shares | 300,000 | ||||||
Term of stock option exercisable price | 1 year | ||||||
Casa Zeta Jones Brand [Member] | License Agreement [Member] | |||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||
Common shares acquired, percentage | 95.00% | ||||||
Posto Del Sole Incorporated [Member] | Share Exchange Agreement [Member] | |||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||
Common shares acquired, percentage | 51.00% | ||||||
Sovryn Holdings Inc [Member] | |||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||
Common shares acquired, percentage | 100.00% | ||||||
Sovryn Holdings Inc [Member] | Series D Convertible Preferred Stock [Member] | |||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||
Number of shares issued for settlement | 230,000 | ||||||
Sovryn Holdings Inc [Member] | Share Exchange Agreement [Member] | |||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||
Common shares acquired, percentage | 100.00% | ||||||
Common stock, shares authorized | 6,000,000,000 | 500,000,000 | |||||
Sovryn Holdings Inc [Member] | Share Exchange Agreement [Member] | Series E Convertible Preferred Stock [Member] | |||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||
Shares issued | $ 1,000 | ||||||
Go Tv Inc [Member] | Share Exchange Agreement [Member] | Maximum [Member] | |||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||
Common stock, shares authorized | 6,000,000,000 | ||||||
Go Tv Inc [Member] | Share Exchange Agreement [Member] | Minimum [Member] | |||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||
Common stock, shares authorized | 500,000,000 |
Schedule of Revenue (Details)
Schedule of Revenue (Details) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | Dec. 31, 2020 | |
Total Sales | $ 296,025 | $ 199 | $ 296,025 | $ 954 | |
Total Assets | 23,334,768 | 23,334,768 | $ 510,616 | ||
Madison Technologies Inc [Member] | |||||
Total Sales | |||||
Total Assets | 9,373,786 | 9,373,786 | |||
Sovryn Holdings Inc [Member] | |||||
Total Sales | 296,025 | ||||
Total Assets | 13,451,820 | 13,451,820 | |||
CZJ License, Inc [Member] | |||||
Total Sales | |||||
Total Assets | $ 509,162 | $ 509,162 |
Schedule of Intangible Assets (
Schedule of Intangible Assets (Details) - USD ($) | Jun. 30, 2021 | Dec. 31, 2020 |
Finite-Lived Intangible Assets [Line Items] | ||
Cost | $ 9,408,045 | $ 548,094 |
Amortization | 318,932 | 114,687 |
Net | 9,089,113 | 433,407 |
Domain Name Go.TV [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Cost | 100,000 | |
Amortization | ||
Net | 100,000 | |
License [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Cost | 7,399,701 | |
Amortization | ||
Net | 7,399,701 | |
Tuffy Packs, LLC License [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Cost | 50,000 | 50,000 |
Amortization | 50,000 | 50,000 |
Net | ||
Website for Casa-Zeta Jones Brand [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Cost | 10,000 | 10,000 |
Amortization | ||
Net | 10,000 | 10,000 |
Customer Lists [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Cost | 1,360,250 | |
Amortization | 133,677 | |
Net | 1,226,573 | |
Casa Zeta-Jones Brand License [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Cost | 488,094 | 488,094 |
Amortization | 135,255 | 64,687 |
Net | $ 352,839 | $ 423,407 |
Schedule of Goodwill (Details)
Schedule of Goodwill (Details) (Parenthetical) | Jun. 30, 2021 |
Sovryn Holdings Inc [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Equity Method Investment, Ownership Percentage | 100.00% |
Schedule of Goodwill (Details)
Schedule of Goodwill (Details) - USD ($) | Jun. 30, 2021 | Dec. 31, 2020 |
Restructuring Cost and Reserve [Line Items] | ||
Total | $ 6,504,326 | |
Sovryn Holdings Inc [Member] | ||
Restructuring Cost and Reserve [Line Items] | ||
Total | 4,224,962 | |
KNLA- KNET Acquisition [Member] | ||
Restructuring Cost and Reserve [Line Items] | ||
Total | 1,570,734 | |
KVVV Acquisition [Member] | ||
Restructuring Cost and Reserve [Line Items] | ||
Total | $ 708,630 |
Schedule of Equipment (Details)
Schedule of Equipment (Details) - USD ($) | 6 Months Ended | |
Jun. 30, 2021 | Dec. 31, 2020 | |
Property, Plant and Equipment [Line Items] | ||
Equipment, Cost | $ 684,872 | |
Equipment, Depreciation | 10,829 | |
Equipment, Net | $ 674,043 | |
Transmitter [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Equipment, Useful Life | 10 years | |
Equipment, Cost | $ 376,815 | |
Equipment, Depreciation | 6,530 | |
Equipment, Net | $ 370,285 | |
Antenna [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Equipment, Useful Life | 10 years | |
Equipment, Cost | $ 103,275 | |
Equipment, Depreciation | 1,575 | |
Equipment, Net | $ 101,700 | |
Tech Equip [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Equipment, Useful Life | 5 years | |
Equipment, Cost | $ 204,782 | |
Equipment, Depreciation | 2,724 | |
Equipment, Net | $ 202,058 |
Inventory (Details Narrative)
Inventory (Details Narrative) - USD ($) | Jun. 30, 2021 | Dec. 31, 2020 |
Inventory Disclosure [Abstract] | ||
Inventory, amount | $ 146,324 |
Investments (Details Narrative)
Investments (Details Narrative) - USD ($) | Jun. 30, 2021 | Jun. 09, 2021 | Mar. 29, 2021 | Dec. 31, 2020 |
Restructuring Cost and Reserve [Line Items] | ||||
Long-term Investments | $ 372,500 | |||
W27EB [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets | $ 285,000 | |||
KYMU [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets | $ 87,500 |
Schedule of Remaining Right of
Schedule of Remaining Right of Use Assets (Details) - USD ($) | Jun. 30, 2021 | Dec. 31, 2020 |
Lessee, Lease, Description [Line Items] | ||
Operating Lease, Amount | $ 715,228 | |
Operating Lease, Accumulated Amortization | 19,370 | |
Operating Lease, Net | $ 695,858 | |
Tower Lease One [Member] | ||
Lessee, Lease, Description [Line Items] | ||
Lessee, Operating Lease, Term of Contract | 54 months 15 days | |
Operating Lease, Amount | $ 266,442 | |
Operating Lease, Accumulated Amortization | 12,222 | |
Operating Lease, Net | $ 254,220 | |
Tower Lease Two [Member] | ||
Lessee, Lease, Description [Line Items] | ||
Lessee, Operating Lease, Term of Contract | 34 months | |
Operating Lease, Amount | $ 113,063 | |
Operating Lease, Accumulated Amortization | 3,326 | |
Operating Lease, Net | $ 109,737 | |
Generator Lease [Member] | ||
Lessee, Lease, Description [Line Items] | ||
Lessee, Operating Lease, Term of Contract | 54 months 15 days | |
Operating Lease, Amount | $ 55,639 | |
Operating Lease, Accumulated Amortization | 2,552 | |
Operating Lease, Net | $ 53,087 | |
Studio Lease [Member] | ||
Lessee, Lease, Description [Line Items] | ||
Lessee, Operating Lease, Term of Contract | 220 months 15 days | |
Operating Lease, Amount | $ 280,084 | |
Operating Lease, Accumulated Amortization | 1,270 | |
Operating Lease, Net | $ 278,814 |
Schedule of Remaining Lease Lia
Schedule of Remaining Lease Liability (Details) - USD ($) | Jun. 30, 2021 | Dec. 31, 2020 |
Leases [Abstract] | ||
2022 | $ 182,421 | |
2023 | 188,098 | |
2024 | 180,708 | |
2025 | 150,839 | |
2026 | 83,061 | |
Remaining | 653,725 | |
Lease obligations, net | 1,438,852 | |
Amt representing interest | 733,047 | |
Remaining lease liability | 705,805 | |
Less current portion | 81,947 | |
Non-current lease obligation | $ 623,858 |
Right of Use Assets (Details Na
Right of Use Assets (Details Narrative) | 6 Months Ended | |
Jun. 30, 2021USD ($)lease | Dec. 31, 2020USD ($) | |
Number of operating lease | lease | 4 | |
Annual interest rate | 15.00% | |
Remaining lease liability | $ 705,805 | |
Current portion of lease liability | 81,947 | |
Non-current portion of lease liability | $ 623,858 | |
Minimum [Member] | ||
Operating lease, term | 34 months | |
Maximum [Member] | ||
Operating lease, term | 220 months 15 days |
Schedule of Accounts Payable an
Schedule of Accounts Payable and Accrued Liabilities (Details) - USD ($) | Jun. 30, 2021 | Dec. 31, 2020 |
Payables and Accruals [Abstract] | ||
Audit fees | $ 5,800 | $ 25,800 |
Accounting fees | 6,000 | 8,100 |
Legal fees | 192,843 | 25,118 |
Office expenses | 49,775 | 335 |
Consulting fees | 50,000 | |
Lender’s fees | 225,583 | |
Management fees | 3,000 | |
Total | $ 530,001 | $ 62,353 |
Schedule of Guaranteed Minimum
Schedule of Guaranteed Minimum Royalties (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Guaranteed Minimum Sales | $ 296,025 | $ 199 | $ 296,025 | $ 954 |
7/17/20 - 12/31/21 [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Guaranteed Minimum Royalties | 250,000 | |||
Guaranteed Minimum Sales | 3,200,000 | |||
1/1/22 - 12/31/22 [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Guaranteed Minimum Royalties | 250,000 | |||
Guaranteed Minimum Sales | 3,200,000 | |||
1/1/22 - 12/31/22 [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Guaranteed Minimum Royalties | 250,000 | |||
Guaranteed Minimum Sales | $ 3,200,000 |
License Agreements (Details Nar
License Agreements (Details Narrative) - USD ($) | Jul. 17, 2020 | Sep. 16, 2016 | Jun. 30, 2021 | Jun. 30, 2020 | Dec. 31, 2018 |
Payment to intangible assets | $ 8,859,951 | ||||
Amortization of license | 234,443 | ||||
Licensor [Member] | |||||
Payment to intangible assets | $ 16,500 | ||||
Unpaid balance on license | 33,500 | ||||
Amortization of license | $ 50,000 | ||||
License Agreement [Member] | |||||
License agreement term | 3 years 6 months | 2 years | |||
License agreement cost | $ 10,000 | ||||
Debt Amount | $ 45,000 | ||||
Debt Issuance Costs | $ 100,000 | ||||
Common shares, percentage | 95.00% | ||||
Discount percentage | 50.00% | ||||
Advance prepayment | $ 150,000 | ||||
License Agreement [Member] | Revenue Benchmark [Member] | |||||
Royalty payments, percentage | 8.00% | ||||
License Agreement [Member] | Year 1 [Member] | |||||
Maturity date, description | execution – December 31, 2021 | ||||
License Agreement [Member] | Year 2 [Member] | |||||
Maturity date, description | January 1, 2022 – December 31, 2022 | ||||
License Agreement [Member] | Year 3 [Member] | |||||
Maturity date, description | January 1, 2023 – December 31, 2023 | ||||
License Agreement [Member] | Upon Signing [Member] | |||||
Advance prepayment | $ 50,000 | ||||
License Agreement [Member] | On July 20, 2020 [Member] | |||||
Advance prepayment | 50,000 | ||||
License Agreement [Member] | On September1, 2020 [Member] | |||||
Advance prepayment | $ 50,000 | ||||
License Agreement [Member] | Series B Preferred Stock [Member] | |||||
Number of shares issued | 10,000 | ||||
Number of shares issued, value | $ 0 | ||||
License Agreement [Member] | 3% Convertible Preferred Series A [Member] | |||||
Number of shares issued | 92,999 | ||||
Number of shares issued, value | $ 343,094 | ||||
License Agreement [Member] | Additional Payment [Member] | |||||
License agreement term | 30 days | ||||
License agreement cost | $ 15,000 | ||||
License Agreement [Member] | Final Payment [Member] | |||||
License agreement term | 90 days | ||||
License agreement cost | $ 25,000 |
Securities Exchange Agreements
Securities Exchange Agreements (Details Narrative) - USD ($) | Feb. 16, 2021 | Sep. 25, 2020 | Jun. 30, 2021 | Dec. 31, 2020 | Feb. 13, 2021 | Sep. 28, 2020 |
Common stock par value | $ 0.001 | |||||
Common stock, shares authorized | 500,000,000 | |||||
Shares issued value | $ 4,225,062 | |||||
Goodwill | 6,504,326 | |||||
Common Stock [Member] | ||||||
Shares issued value | ||||||
Stock Issued During Period, Shares, Acquisitions | ||||||
Sovryn Holdings Inc [Member] | ||||||
Ownership percentage | 100.00% | |||||
Goodwill | $ 4,224,962 | |||||
Share Exchange Agreement [Member] | Sovryn Holdings Inc [Member] | ||||||
Ownership percentage | 100.00% | |||||
Common stock par value | $ 0.0001 | $ 0.001 | ||||
Common stock, shares authorized | 6,000,000,000 | 500,000,000 | ||||
Goodwill | $ 4,224,962 | |||||
Share Exchange Agreement [Member] | Sovryn Holdings Inc [Member] | Common Stock [Member] | ||||||
Preferred stock converted to common stock | 2,305,000,000 | |||||
Diluted shares conversion percentage | 59.00% | |||||
Share Exchange Agreement [Member] | Sovryn Holdings Inc [Member] | Series B Preferred Stock [Member] | Jeffrey Canouse [Member] | ||||||
Shares issued | $ 100 | |||||
Share Exchange Agreement [Member] | Sovryn Holdings Inc [Member] | Series E Convertible Preferred Stock [Member] | ||||||
Shares issued | 1,000 | |||||
Shares issued value | $ 4,225,062 | |||||
Share Exchange Agreement [Member] | Posto Del Sole Incorporated [Member] | ||||||
Ownership percentage | 51.00% | |||||
Business Acquisition, Percentage of Voting Interests Acquired | 51.00% | |||||
Stock Issued During Period, Shares, Acquisitions | 10,000 | |||||
Business Combination, Consideration Transferred | $ 1,000,000 | |||||
Accounts Receivable, Credit Loss Expense (Reversal) | $ 165,000 |
Asset Purchase (Details Narrati
Asset Purchase (Details Narrative) - Asset Purchase Agreement [Member] - USD ($) | Jul. 13, 2021 | Jun. 09, 2021 | Mar. 29, 2021 | Mar. 14, 2021 | Feb. 17, 2021 |
KNLA- KNET Acquisition [Member] | |||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||
Business Combination, Consideration Transferred | $ 10,000,000 | ||||
Contract with Customer, Asset, Sale | $ 2,000,000 | ||||
Business Combination, Assets and Liabilities Arising from Contingencies, Description | (i) an escrow deposit of $ | ||||
Escrow Deposit | $ 1,000,000 | ||||
[custom:NonrefundableOptionFee] | $ 1,000,000 | ||||
KVVV [Member] | |||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||
Business Combination, Consideration Transferred | $ 1,500,000 | ||||
Escrow Deposit | $ 87,500 | ||||
KMYU [Member] | |||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||
Business Combination, Consideration Transferred | $ 1,750,000 | ||||
Escrow Deposit | $ 87,500 | ||||
W27EB [Member] | |||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||
Business Combination, Consideration Transferred | $ 5,700,000 | ||||
Escrow Deposit | $ 285,000 | ||||
KPHE [Member] | Subsequent Event [Member] | |||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||
Business Combination, Consideration Transferred | $ 2,000,000 | ||||
Escrow Deposit | 100,000 | ||||
KVSD Acquisition [Member] | Subsequent Event [Member] | |||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||
Business Combination, Consideration Transferred | 1,500,000 | ||||
Escrow Deposit | $ 75,000 |
Schedule of Notes Payable (Deta
Schedule of Notes Payable (Details) - USD ($) | Jun. 30, 2021 | Feb. 16, 2021 | Feb. 15, 2021 | Dec. 31, 2020 |
Short-term Debt [Line Items] | ||||
Accrued interest thereon | $ 95,561 | |||
Notes Payable One [Member] | ||||
Short-term Debt [Line Items] | ||||
Interest rate | 5.00% | 5.00% | ||
Note payable bearing interest at 5% | $ 20,000 | $ 20,000 | ||
Accrued interest thereon | 216 | 486 | ||
Notes payable | $ 20,216 | $ 20,486 |
Schedule of Notes Payable (De_2
Schedule of Notes Payable (Details) (Parenthetical) | Jun. 30, 2021 | Dec. 31, 2020 |
Notes Payable One [Member] | ||
Short-term Debt [Line Items] | ||
Interest rate | 5.00% | 5.00% |
Note Payable (Details Narrative
Note Payable (Details Narrative) - shares | Feb. 16, 2021 | Jun. 30, 2021 | Dec. 31, 2020 |
Series D Convertible Preferred Stock [Member] | |||
Short-term Debt [Line Items] | |||
Debt instrument converted shares | 1,000 | ||
Notes Payable One [Member] | |||
Short-term Debt [Line Items] | |||
Interest rate | 5.00% | 5.00% | |
Maturity date | Jun. 30, 2021 | ||
Notes Payable One [Member] | Series D Convertible Preferred Stock [Member] | |||
Short-term Debt [Line Items] | |||
Shares conversion description | Each Series D Convertible Preferred Stock shall be convertible into common stock of the Company at a ratio of 1,000 shares of common stock for each share of Series D Convertible Preferred Stock held. | ||
Debt instrument converted shares | 1,000 |
Schedule of Convertible Notes a
Schedule of Convertible Notes and Accrued Interest Payable (Details) - USD ($) | Feb. 15, 2021 | Jun. 30, 2021 | Dec. 31, 2020 | Jul. 23, 2020 | |
Short-term Debt [Line Items] | |||||
Conversion Rate | $ 0.015 | $ 0.01 | |||
Accrued Interest | $ 95,561 | ||||
Carrying Value | 552,042 | ||||
Convertible notes and accrued interest payable | 647,603 | $ 552,751 | |||
Less long-term portion | $ 15,151,122 | 57,759 | |||
Current portion | 647,603 | 494,992 | |||
Convertible Notes Payable One [Member] | |||||
Short-term Debt [Line Items] | |||||
Face Value | $ 10,000 | ||||
Conversion Rate | $ 0.005 | ||||
Interest rate | |||||
Accrued Interest | |||||
Carrying Value | 500 | ||||
Convertible notes and accrued interest payable | 500 | 500 | [1] | ||
Convertible Notes Payable Two [Member] | |||||
Short-term Debt [Line Items] | |||||
Face Value | $ 85,000 | ||||
Conversion Rate | $ 0.01 | ||||
Interest rate | |||||
Accrued Interest | |||||
Carrying Value | 50,800 | ||||
Convertible notes and accrued interest payable | 50,800 | 50,800 | [2] | ||
Convertible Notes Payable Three [Member] | |||||
Short-term Debt [Line Items] | |||||
Face Value | $ 50,000 | ||||
Conversion Rate | $ 0.01 | ||||
Interest rate | 10.00% | ||||
Accrued Interest | $ 2,500 | ||||
Carrying Value | 50,000 | ||||
Convertible notes and accrued interest payable | $ 52,500 | 52,500 | [3] | ||
Due Date | May 1, 2022 | ||||
Convertible Notes Payable Four [Member] | |||||
Short-term Debt [Line Items] | |||||
Face Value | $ 5,000 | ||||
Conversion Rate | $ 0.01 | ||||
Interest rate | 10.00% | ||||
Accrued Interest | $ 259 | ||||
Carrying Value | 5,000 | ||||
Convertible notes and accrued interest payable | $ 5,259 | 5,259 | [4] | ||
Due Date | May 1, 2022 | ||||
Convertible Notes Payable Five [Member] | |||||
Short-term Debt [Line Items] | |||||
Face Value | $ 12,500 | ||||
Conversion Rate | $ 0.01 | ||||
Interest rate | 10.00% | ||||
Accrued Interest | $ 457 | ||||
Carrying Value | 7,500 | ||||
Convertible notes and accrued interest payable | $ 7,957 | 7,957 | [4] | ||
Due Date | Jun. 23, 2021 | ||||
Convertible Notes Payable Six [Member] | |||||
Short-term Debt [Line Items] | |||||
Face Value | $ 20,000 | ||||
Conversion Rate | $ 0.04 | ||||
Interest rate | |||||
Accrued Interest | |||||
Carrying Value | 20,000 | ||||
Convertible notes and accrued interest payable | 20,000 | 20,000 | |||
Convertible Notes Payable Seven [Member] | |||||
Short-term Debt [Line Items] | |||||
Face Value | $ 68,490 | ||||
Conversion Rate | $ 0.05 | ||||
Interest rate | |||||
Accrued Interest | |||||
Carrying Value | 68,490 | ||||
Convertible notes and accrued interest payable | 68,490 | 68,490 | [5] | ||
Convertible Notes Payable Eight [Member] | |||||
Short-term Debt [Line Items] | |||||
Face Value | $ 25,000 | ||||
Conversion Rate | $ 0.05 | ||||
Interest rate | 12.00% | ||||
Accrued Interest | $ 20,056 | ||||
Carrying Value | 25,000 | ||||
Convertible notes and accrued interest payable | 45,056 | 44,682 | [6] | ||
Convertible Notes Payable Nine [Member] | |||||
Short-term Debt [Line Items] | |||||
Face Value | $ 25,000 | ||||
Conversion Rate | $ 0.05 | ||||
Interest rate | 8.00% | ||||
Accrued Interest | $ 32,047 | ||||
Carrying Value | 25,000 | ||||
Convertible notes and accrued interest payable | 57,047 | 56,797 | [6] | ||
Convertible Notes Payable Ten [Member] | |||||
Short-term Debt [Line Items] | |||||
Face Value | $ 23,622 | ||||
Conversion Rate | $ 0.05 | ||||
Interest rate | 5.00% | ||||
Accrued Interest | $ 16,388 | ||||
Carrying Value | 23,622 | ||||
Convertible notes and accrued interest payable | 40,010 | 39,551 | [6] | ||
Convertible Notes Payable Eleven [Member] | |||||
Short-term Debt [Line Items] | |||||
Face Value | $ 684,000 | ||||
Conversion Rate | $ 0.05 | ||||
Interest rate | 10.00% | ||||
Accrued Interest | $ 22,066 | ||||
Carrying Value | 220,799 | ||||
Convertible notes and accrued interest payable | $ 242,865 | 154,444 | [7] | ||
Due Date, description | Various | ||||
Convertible Notes Payable Twelve [Member] | |||||
Short-term Debt [Line Items] | |||||
Face Value | $ 75,000 | ||||
Interest rate | 10.00% | ||||
Accrued Interest | $ 1,788 | ||||
Carrying Value | 55,331 | ||||
Convertible notes and accrued interest payable | $ 57,119 | $ 51,771 | |||
Due Date, description | Various | ||||
[1] | On October 28, 2020, $ 9,500 1,900,000 | ||||
[2] | On July 23, 2020, $ 16,900 950 1,785,000 17,300 1,730,000 | ||||
[3] | The notes are convertible into common stock at the discretion of the Holder at the lesser of $ 0.01 50 20 | ||||
[4] | The notes are convertible into common stock at the discretion of the Holder at 50 30 | ||||
[5] | Included in this debt is $ 490 | ||||
[6] | On April 2, 2020, these notes terms were changed from non-convertible to convertible at $ 0.05 1 9.99 6,164 6,146 | ||||
[7] | Based on the intrinsic value of the beneficial conversion feature, as per FASB topic ASC 470-20 Debt with Conversion and other Options, |
Convertible Notes and Accrued_3
Convertible Notes and Accrued Interest Payable - Schedule of Convertible Notes and Accrued Interest Payable (Details) (Parenthetical) | Feb. 15, 2021USD ($)Integer$ / shares | Nov. 02, 2020$ / sharesshares | Nov. 02, 2020USD ($)$ / sharesshares | Oct. 28, 2020USD ($)$ / sharesshares | Jul. 23, 2020USD ($)$ / shares | Jul. 23, 2020USD ($)$ / sharesshares | Apr. 02, 2020$ / sharesshares | Dec. 31, 2020USD ($)Integer$ / shares | Jun. 30, 2021USD ($)$ / shares | Dec. 31, 2019USD ($) |
Short-term Debt [Line Items] | ||||||||||
Converted common shares value | $ 17,850 | |||||||||
Conversion price per share | $ / shares | $ 0.01 | $ 0.01 | $ 0.015 | |||||||
Accrued interest | $ 453,750 | |||||||||
Common Stock [Member] | ||||||||||
Short-term Debt [Line Items] | ||||||||||
Converted common shares value | $ 28,896 | |||||||||
Convertible notes payable common shares converted | shares | 1,730,000 | 1,900,000 | ||||||||
Conversion price per share | $ / shares | $ 0.01 | $ 0.01 | $ 0.005 | |||||||
Convertible Notes Payable One [Member] | ||||||||||
Short-term Debt [Line Items] | ||||||||||
Converted common shares value | $ 9,500 | |||||||||
Convertible notes payable common shares converted | shares | 1,900,000 | |||||||||
Conversion price per share | $ / shares | $ 0.005 | |||||||||
Debt instrument face value | $ 10,000 | |||||||||
Convertible Notes Payable Two [Member] | ||||||||||
Short-term Debt [Line Items] | ||||||||||
Converted common shares value | $ 17,300 | $ 16,900 | ||||||||
Convertible notes payable common shares converted | shares | 1,730,000 | 1,785,000 | ||||||||
Debt cost | $ 950 | |||||||||
Conversion price per share | $ / shares | $ 0.01 | |||||||||
Debt instrument face value | $ 85,000 | |||||||||
Convertible Notes Payable Three [Member] | ||||||||||
Short-term Debt [Line Items] | ||||||||||
Conversion price per share | $ / shares | $ 0.01 | |||||||||
Debt instrument face value | $ 50,000 | |||||||||
Convertible Notes Payable Three [Member] | Holder [Member] | ||||||||||
Short-term Debt [Line Items] | ||||||||||
Conversion price per share | $ / shares | $ 0.01 | |||||||||
Debt instrument conversion percentage | 50.00% | |||||||||
Debt instrument trading days | Integer | 20 | |||||||||
Convertible Notes Payable [Member] | ||||||||||
Short-term Debt [Line Items] | ||||||||||
Conversion price per share | $ / shares | $ 0.05 | |||||||||
Debt instrument conversion percentage | 9.99% | |||||||||
Number of shares issued | shares | 1 | |||||||||
Accrued interest | $ 6,164 | $ 6,146 | ||||||||
Convertible Notes Payable [Member] | Holder [Member] | Common Stock [Member] | ||||||||||
Short-term Debt [Line Items] | ||||||||||
Debt instrument conversion percentage | 50.00% | |||||||||
Debt instrument trading days | Integer | 30 | |||||||||
Convertible Notes Payable [Member] | Former C E O [Member] | ||||||||||
Short-term Debt [Line Items] | ||||||||||
Payments for related party debt | $ 490 | |||||||||
Convertible Notes Payable Twelve [Member] | ||||||||||
Short-term Debt [Line Items] | ||||||||||
Debt instrument face value | $ 75,000 | |||||||||
Convertible Notes Payable Twelve [Member] | Holder [Member] | Common Stock [Member] | ||||||||||
Short-term Debt [Line Items] | ||||||||||
Debt instrument conversion percentage | 70.00% | |||||||||
Debt instrument trading days | Integer | 20 | |||||||||
Debt instrument face value | $ 25,000 |
Schedule of Convertible Notes (
Schedule of Convertible Notes (Details) - USD ($) | Feb. 15, 2021 | Jul. 23, 2020 |
Short-term Debt [Line Items] | ||
Allocated to equity | $ 17,850 | |
Accrued Interest | $ 95,561 | |
Total | 552,042 | |
Common Stock [Member] | ||
Short-term Debt [Line Items] | ||
Allocated to equity | 28,896 | |
Amortized as Interest | 9,177 | |
Accrued Interest | 1,836 | |
Total | 57,118 | |
Convertible Debt One [Member] | ||
Short-term Debt [Line Items] | ||
Allocated to equity | $ 30,000 | |
Due date | Mar. 31, 2021 | |
Amortized as Interest | $ 24,293 | |
Accrued Interest | 1,627 | |
Total | 25,920 | |
Convertible Debt One [Member] | Common Stock [Member] | ||
Short-term Debt [Line Items] | ||
Allocated to equity | $ 10,714 | |
Due date | Jul. 31, 2021 | |
Amortized as Interest | $ 4,397 | |
Accrued Interest | 822 | |
Total | 19,505 | |
Convertible Debt Two [Member] | ||
Short-term Debt [Line Items] | ||
Allocated to equity | $ 100,000 | |
Due date | Jul. 20, 2021 | |
Amortized as Interest | $ 56,051 | |
Accrued Interest | 5,726 | |
Total | 61,777 | |
Convertible Debt Two [Member] | Common Stock [Member] | ||
Short-term Debt [Line Items] | ||
Allocated to equity | $ 10,714 | |
Due date | Aug. 31, 2021 | |
Amortized as Interest | $ 3,279 | |
Accrued Interest | 610 | |
Total | 18,175 | |
Convertible Debt Three [Member] | ||
Short-term Debt [Line Items] | ||
Allocated to equity | $ 60,000 | |
Due date | Aug. 31, 2021 | |
Amortized as Interest | $ 27,406 | |
Accrued Interest | 2,860 | |
Total | 30,266 | |
Convertible Debt Three [Member] | Common Stock [Member] | ||
Short-term Debt [Line Items] | ||
Allocated to equity | $ 7,468 | |
Due date | Sep. 30, 2021 | |
Amortized as Interest | $ 1,501 | |
Accrued Interest | 404 | |
Total | 19,438 | |
Convertible Debt Four [Member] | ||
Short-term Debt [Line Items] | ||
Allocated to equity | $ 20,000 | |
Due date | Sep. 30, 2021 | |
Amortized as Interest | $ 7,688 | |
Accrued Interest | 816 | |
Total | 8,504 | |
Convertible Debt Five [Member] | ||
Short-term Debt [Line Items] | ||
Allocated to equity | $ 60,000 | |
Due date | Oct. 31, 2021 | |
Amortized as Interest | $ 18,715 | |
Accrued Interest | 2,022 | |
Total | 20,737 | |
Convertible Debt Six [Member] | ||
Short-term Debt [Line Items] | ||
Allocated to equity | $ 50,000 | |
Due date | Oct. 31, 2021 | |
Amortized as Interest | $ 14,504 | |
Accrued Interest | 1,507 | |
Total | 16,011 | |
Convertible Debt Seven [Member] | ||
Short-term Debt [Line Items] | ||
Allocated to equity | $ 50,000 | |
Due date | Oct. 31, 2021 | |
Amortized as Interest | $ 14,504 | |
Accrued Interest | 1,507 | |
Total | 16,011 | |
Convertible Debt Eight [Member] | ||
Short-term Debt [Line Items] | ||
Allocated to equity | $ 10,000 | |
Due date | Nov. 4, 2021 | |
Amortized as Interest | $ 2,671 | |
Accrued Interest | 277 | |
Total | 2,948 | |
Convertible Debt Nine [Member] | ||
Short-term Debt [Line Items] | ||
Allocated to equity | $ 110,000 | |
Due date | Nov. 18, 2021 | |
Amortized as Interest | $ 25,476 | |
Accrued Interest | 2,622 | |
Total | 28,098 | |
Convertible Debt Ten [Member] | ||
Short-term Debt [Line Items] | ||
Allocated to equity | $ 55,000 | |
Due date | Nov. 19, 2021 | |
Amortized as Interest | $ 12,262 | |
Accrued Interest | 1,310 | |
Total | 13,572 | |
Convertible Debt Eleven [Member] | ||
Short-term Debt [Line Items] | ||
Allocated to equity | $ 27,000 | |
Due date | Dec. 31, 2021 | |
Amortized as Interest | $ 4,292 | |
Accrued Interest | 481 | |
Total | 4,773 | |
Convertible Debt Twelve [Member] | ||
Short-term Debt [Line Items] | ||
Allocated to equity | $ 27,000 | |
Due date | Dec. 31, 2021 | |
Amortized as Interest | $ 4,292 | |
Accrued Interest | 481 | |
Total | 4,773 | |
Convertible Debt Thirteen [Member] | ||
Short-term Debt [Line Items] | ||
Allocated to equity | $ 20,000 | |
Due date | Dec. 31, 2021 | |
Amortized as Interest | $ 2,976 | |
Accrued Interest | 318 | |
Total | 3,294 | |
Convertible Debt Fourteen [Member] | ||
Short-term Debt [Line Items] | ||
Allocated to equity | $ 30,000 | |
Due date | Dec. 31, 2021 | |
Amortized as Interest | $ 3,747 | |
Accrued Interest | 382 | |
Total | 4,129 | |
Convertible Debt Fifteen [Member] | ||
Short-term Debt [Line Items] | ||
Allocated to equity | $ 17,500 | |
Due date | Jan. 31, 2022 | |
Amortized as Interest | $ 961 | |
Accrued Interest | 65 | |
Total | 1,026 | |
Convertible Debt Sixteen [Member] | ||
Short-term Debt [Line Items] | ||
Allocated to equity | $ 17,500 | |
Due date | Jan. 31, 2022 | |
Amortized as Interest | $ 961 | |
Accrued Interest | 65 | |
Total | 1,026 | |
Convertible Debt [Member] | ||
Short-term Debt [Line Items] | ||
Allocated to equity | 684,000 | |
Amortized as Interest | 220,799 | |
Accrued Interest | 22,067 | |
Total | $ 242,865 |
Convertible Notes and Accrued_4
Convertible Notes and Accrued Interest Payable (Details Narrative) - shares | Feb. 16, 2021 | Jun. 30, 2021 |
Convertible Notes Payable [Member] | Holder [Member] | ||
Shares conversion description | No conversion shall result in the Holder holding in excess of 9.99% of the total issued and outstanding common stock of the Company at any time. | |
Series D Convertible Preferred Stock [Member] | ||
Number of Shares issued for settlement | 230 | |
Debt instrument converted shares | 1,000 |
Summary of Loan (Details)
Summary of Loan (Details) - USD ($) | Jun. 30, 2021 | Dec. 31, 2020 |
Short-term Debt [Line Items] | ||
Carrying Value | $ 15,151,122 | $ 57,759 |
Accrued Interest 11% | 453,750 | |
Arena Investors L P Convertible Promissory Notes [Member] | ||
Short-term Debt [Line Items] | ||
Face Value | 16,500,000 | |
Loan Proceeds | 15,000,000 | |
Amortized Interest | 151,122 | |
Carrying Value | 15,151,122 | |
Accrued Interest 11% | 453,750 | |
Total | $ 15,604,872 |
Convertible Notes Payable and_3
Convertible Notes Payable and Interest Payable (Details Narrative) - USD ($) | Feb. 17, 2021 | Jun. 30, 2021 | Dec. 31, 2020 | Jul. 23, 2020 |
Convertible notes payable | $ 16,900 | |||
Preferred stock, shares issued | 0 | |||
Conversion price per share | $ 0.015 | $ 0.01 | ||
Issuance of warrants, description | The warrants are exercisable for a period of 5 years from the date of issuance. | |||
Series F Preferred Stock [Member] | ||||
Preferred stock, shares issued | 1,000 | 1,000 | ||
Arena Partners LLP [Member] | ||||
Convertible notes payable | $ 15,000,000 | |||
Warrants issued | $ 192,073,016 | |||
Warrants term | 5 years | |||
Issuance of warrants | 192,073,016 | |||
Issuance of warrants, description | Each Warrant is exercisable for a period of five (5) years from the date of issuance at an initial exercise price to (i) 125%, times (ii) the amount determined by dividing (A) $50,000,000, by (B) the total number of shares of preferred stock, Common Stock and Common Stock Equivalents outstanding on such Conversion Date (assuming full conversion or exercise of all then issued and outstanding securities of the Company that are exercisable for or convertible into such equity securities of the Company), subject to adjustment herein, subject to certain beneficial ownership limitations (with a maximum ownership limit of 9.99%). | |||
Security Agreement and Guaranty Agreement [Member] | ||||
Proceeds from loans | $ 16,500,000 | |||
Maturity date | Feb. 17, 2023 | |||
Debt instrument, interest rate | 11.00% | |||
Debt instrument, description | The Notes are convertible at any time, at the holder’s option, into shares of our common stock equal to the lesser of: (i) the amount determined by dividing (A) $50,000,000, by (B) the total number of shares of preferred stock, Common Stock and Common Stock Equivalents outstanding on such Conversion Date (assuming full conversion or exercise of all then issued and outstanding securities of the Company that are exercisable for or convertible into such equity securities of the Company) and (ii) $1.00, subject to adjustment herein (the “Conversion Price”), subject to certain beneficial ownership limitations (with a maximum ownership limit of 9.99%). The conversion price is also subject to adjustment due to certain events, including stock dividends, stock splits and in connection with the issuance by the Company of common stock or common stock equivalents at an effective price per share lower than the conversion price then in effect. | |||
Voting rights, description | Each of the Investors have contractually agreed to restrict their ability to exercise the Warrants and convert the Notes such that the number of shares of the Company common stock held by each of them and their affiliates after such conversion or exercise does not exceed 9.99% of the Company’s then issued and outstanding shares of common stock. | |||
Security Agreement and Guaranty Agreement [Member] | Series F Preferred Stock [Member] | ||||
Voting rights, description | The Series F Preferred Stock have no voting rights and shall convert into 4.9% of our issued and outstanding shares of common stock on a fully diluted basis upon Shareholder Approval. | |||
Securities Purchase Agreement [Member] | Arena Partners LLP [Member] | ||||
Warrants issued | $ 192,073,017 |
Related Party (Details Narrativ
Related Party (Details Narrative) - USD ($) | Apr. 07, 2021 | Sep. 28, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 |
Related Party Transaction [Line Items] | ||||||
Management fee | $ 34,000 | |||||
Number of shares issued for exchange, value | $ 668,214 | |||||
Professional Fees | $ 264,938 | $ 1,829 | $ 523,719 | $ 3,469 | ||
Jeff Canouse [Member] | ||||||
Related Party Transaction [Line Items] | ||||||
Number of shares issued for exchange | 1,500,000 | 1,500,000 | ||||
Number of shares issued for exchange, value | $ 1,500 | $ 1,500 | ||||
Phil Falcone [Member] | ||||||
Related Party Transaction [Line Items] | ||||||
Number of shares transferred | 100 | 100 | ||||
President and CEO [Member] | Series B Preferred Stock [Member] | ||||||
Related Party Transaction [Line Items] | ||||||
Voting rights | Philip Falcone is the President and CEO of the Company who currently holds 100 Series B Preferred Super Voting shares which he is entitled to 51% voting rights no matter how many shares of common stock or other voting stock of the Company are issued or outstanding in the future, such that he shall always have majority voting control of the Company. | |||||
Mr. Falcone [Member] | ||||||
Related Party Transaction [Line Items] | ||||||
Paid in advance | $ 85,388 | $ 85,388 | ||||
Mr. Falcone [Member] | Green Rock LLC [Member] | ||||||
Related Party Transaction [Line Items] | ||||||
Management fee | 135,000 | |||||
Renewable Employment Agreement [Member] | ||||||
Related Party Transaction [Line Items] | ||||||
Management fee | 24,000 | |||||
Renewable Employment Agreement [Member] | Mr. Canouse [Member] | ||||||
Related Party Transaction [Line Items] | ||||||
Related parties accounts receivable | $ 48,000 | |||||
Consulting Agreement [Member] | Zenna Consulting Group [Member] | ||||||
Related Party Transaction [Line Items] | ||||||
Professional Fees | 57,000 | |||||
Consulting Agreement [Member] | Zenna Consulting Group [Member] | Director [Member] | ||||||
Related Party Transaction [Line Items] | ||||||
Professional Fees | $ 15,000 |
Common Stock (Details Narrative
Common Stock (Details Narrative) - USD ($) | Apr. 07, 2021 | Feb. 15, 2021 | Nov. 02, 2020 | Oct. 28, 2020 | Jul. 23, 2020 | Jun. 30, 2021 |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
Number of shares issued for exchange, value | $ 668,214 | |||||
Warrants issuance period description | The warrants are exercisable for a period of 5 years from the date of issuance. | |||||
Conversion of stock, shares issued | 1,785,000 | |||||
Convertible note payable | $ 16,900 | |||||
Conversion price per share | $ 0.01 | $ 0.015 | ||||
Legal fees | $ 950 | |||||
Convertible notes payable common shares value | $ 17,850 | |||||
Warrant [Member] | ||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
Number of warrants issued | 192,073,016 | |||||
Warrants term | 5 years | |||||
Common Stock [Member] | ||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
Number of shares issued for exchange | ||||||
Number of shares issued for exchange, value | ||||||
Convertible note payable | $ 17,300 | $ 9,500 | ||||
Conversion price per share | $ 0.01 | $ 0.005 | ||||
Convertible notes payable common shares value | $ 28,896 | |||||
Debt instrument converted shares | 1,730,000 | 1,900,000 | ||||
Jeff Canouse [Member] | ||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
Number of shares issued for exchange | 1,500,000 | 1,500,000 | ||||
Number of shares issued for exchange, value | $ 1,500 | $ 1,500 | ||||
Phil Falcone [Member] | ||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
Number of shares transferred | 100 | 100 |
Preferred Shares (Details Narra
Preferred Shares (Details Narrative) - USD ($) | Sep. 16, 2021 | Feb. 16, 2021 | Nov. 02, 2020 | Oct. 28, 2020 | Jul. 23, 2020 | Jul. 17, 2020 | Jul. 17, 2020 | Jun. 30, 2021 | Feb. 17, 2021 | Dec. 31, 2020 |
Class of Stock [Line Items] | ||||||||||
Preferred stock, shares authorized | 50,000,000 | 50,000,000 | ||||||||
Preferred stock, shares issued | 0 | |||||||||
Number of shares issued on conversion | 1,785,000 | |||||||||
Preferred stock stated value | $ 0.001 | $ 0.001 | ||||||||
Common Stock [Member] | ||||||||||
Class of Stock [Line Items] | ||||||||||
Debt instrument converted shares | 1,730,000 | 1,900,000 | ||||||||
Number of shares acquired, shares | ||||||||||
CZJ License, Inc [Member] | ||||||||||
Class of Stock [Line Items] | ||||||||||
Option price per share | $ 10 | |||||||||
Number of shares acquired, shares | 300,000 | |||||||||
Exchange Agreement [Member] | Common Stock [Member] | Subsequent Event [Member] | ||||||||||
Class of Stock [Line Items] | ||||||||||
Number of shares issued on conversion | 1,091,388,889 | |||||||||
Series A Three Percentage Convertible Preferred Stock [Member] | ||||||||||
Class of Stock [Line Items] | ||||||||||
Preferred stock, shares authorized | 100,000 | |||||||||
Debt instrument conversion percentage | 9.99% | |||||||||
Debt instrument converted shares | 3,420 | |||||||||
Diluted shares | 360,000,000 | |||||||||
Series A Three Percentage Convertible Preferred Stock [Member] | License Agreement [Member] | ||||||||||
Class of Stock [Line Items] | ||||||||||
Number of shares issued | 92,999 | |||||||||
Preferred shares, description | The acquisition cost was derived using the current market price of $0.04 x 95% of the number of the issued and outstanding shares of the Company at the time (18,057,565) x 50% of the value. | |||||||||
Series A Three Percentage Convertible Preferred Stock [Member] | License Agreement [Member] | Casa Zeta Jones Brand [Member] | ||||||||||
Class of Stock [Line Items] | ||||||||||
Number of shares issued, value | $ 343,094 | |||||||||
Series B Super Voting Preferred Stock [Member] | ||||||||||
Class of Stock [Line Items] | ||||||||||
Preferred stock, shares authorized | 100 | 100 | ||||||||
Debt instrument conversion percentage | 51.00% | |||||||||
Series B Super Voting Preferred Stock [Member] | License Agreement [Member] | ||||||||||
Class of Stock [Line Items] | ||||||||||
Number of shares issued | 100 | |||||||||
Voting rights, description | The Series B Super Voting Preferred Stockholder is entitled to 51% voting rights no matter how many shares of common stock or other voting stock of the Company are issued or outstanding in the future, such that the holder of Series B Super Voting Preferred Stock shall always have majority control of the Company. | The Series B Super Voting Preferred Stock was valued at par at $Nil. Although the Series B Super Voting Preferred Stock is entitled to 51% voting rights as described above, the stock has no dividend rate nor a conversion feature. | ||||||||
Series C Two Percentage Convertible Preferred Stock [Member] | ||||||||||
Class of Stock [Line Items] | ||||||||||
Preferred stock, shares authorized | 10,000 | |||||||||
Debt instrument conversion percentage | 9.99% | |||||||||
Voting rights, description | Holders of Series C 2% Preferred Stock shall be entitled to receive, when and as declared, dividends equal to 2% per annum on the stated value, payable in additional shares of Series C Preferred Stock. So long as any shares of Series C Preferred Stock remain outstanding, neither the Company nor any subsidiary thereof shall, without the consent of the Holders of 80% of the shares of Series C Preferred Stock then outstanding, redeem, repurchase or otherwise acquire directly or indirectly any Junior Securities nor shall the Company directly or indirectly pay or declare or make any distribution upon, nor shall any distribution be made in respect of, any Junior Securities, nor shall any monies be set aside for or applied to the purchase or redemption of any Junior Securities. | |||||||||
Preferred stock, stated value | $ 100 | |||||||||
Series C Convertible Preferred Stock [Member] | ||||||||||
Class of Stock [Line Items] | ||||||||||
Preferred stock, shares outstanding | 0 | |||||||||
Series D Convertible Preferred Stock Stock [Member] | ||||||||||
Class of Stock [Line Items] | ||||||||||
Preferred stock, shares authorized | 230,000 | |||||||||
Debt instrument conversion percentage | 4.99% | |||||||||
Debt instrument converted shares | 230,000 | |||||||||
Preferred stock, stated value | $ 3.32 | |||||||||
Preferred stock, shares issued | 230,000 | |||||||||
Debt conversion, settlement of debt | $ 688,214 | |||||||||
Series D Convertible Preferred Stock Stock [Member] | Common Stock [Member] | ||||||||||
Class of Stock [Line Items] | ||||||||||
Debt instrument converted shares | 1,000 | |||||||||
Series E Convertible Preferred Stock Stock [Member] | ||||||||||
Class of Stock [Line Items] | ||||||||||
Preferred stock, shares authorized | 1,000 | |||||||||
Preferred shares, description | On February 16, 2021, the Company entered into a Share Exchange Agreement with Sovryn Holdings Inc. (See Note 5). The Company issued 1,000 Series E convertible preferred shares to the shareholders of Sovryn Holdings Inc. valued at $4,225,062 (23,472,565 x $0.20 x 90%). The valuation was based on the market value of the shares of the Company at the date of the transaction. | On September 16, 2021, the conversion rate for each share of Series E Preferred Stock was amended to equal (i)(a) 56.60% multiplied by, (b) the Fully-Diluted shares as of the Approval Date, divided by (ii) the total number of shares of Series E, (iii) rounded to the nearest thousandths place. The total number of Fully-Diluted Shares shall be set as of, and shall not change after the Approval Date. | ||||||||
Preferred stock, stated value | $ 1,000 | |||||||||
Preferred stock, shares issued | 1,000 | |||||||||
Preferred stock, shares outstanding | 1,000 | |||||||||
Series E Preferred Stock [Member] | ||||||||||
Class of Stock [Line Items] | ||||||||||
Preferred stock, shares authorized | 1,000 | 1,000 | ||||||||
Preferred stock, stated value | $ 1,000 | $ 1,000 | ||||||||
Preferred stock, shares issued | 1,000 | 1,000 | ||||||||
Preferred stock, shares outstanding | 1,000 | 1,000 | ||||||||
Preferred stock stated value | $ 0.001 | $ 0.001 | ||||||||
Preferred stock designated and authorized | 4,600 | |||||||||
Series E Preferred Stock [Member] | Subsequent Event [Member] | ||||||||||
Class of Stock [Line Items] | ||||||||||
ntidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 2,243,888,889 | |||||||||
Convertible Series E Preferred Stock [Member] | Exchange Agreement [Member] | Subsequent Event [Member] | ||||||||||
Class of Stock [Line Items] | ||||||||||
Number of stock exchanged | 1,000 | |||||||||
Convertible Series E-1 Preferred Stock [Member] | Exchange Agreement [Member] | Subsequent Event [Member] | ||||||||||
Class of Stock [Line Items] | ||||||||||
Number of shares issued on conversion | 1,152,500 | |||||||||
Series E-1 Convertible Preferred Stock [Member] | ||||||||||
Class of Stock [Line Items] | ||||||||||
Preferred stock, shares authorized | 1,152,500 | |||||||||
Preferred stock stated value | $ 0.87 | |||||||||
Preferred stock, conversion basis | 1,000 | |||||||||
Series F Convertible Preferred Stock Stock [Member] | ||||||||||
Class of Stock [Line Items] | ||||||||||
Preferred stock, shares authorized | 1,000 | |||||||||
Preferred shares, description | On September 16, 2021, the conversion rate for each share of Series F Preferred Stock was amended to equal (i)(a) 4.84% multiplied by, (b) the Fully-Diluted shares as of the Approval Date, divided by (ii) the total number of shares of Series F, (iii) rounded to the nearest thousandths place. The total number of Fully-Diluted Shares shall be set as of, and shall not change after the Approval Date. | |||||||||
Preferred stock, stated value | $ 1 | |||||||||
Preferred stock, shares issued | 1,000 | |||||||||
Preferred stock, shares outstanding | 1,000 | |||||||||
Series F Preferred Stock [Member] | ||||||||||
Class of Stock [Line Items] | ||||||||||
Preferred stock, shares authorized | 1,000 | 1,000 | ||||||||
Preferred stock, stated value | $ 1 | $ 1 | ||||||||
Preferred stock, shares issued | 1,000 | 1,000 | ||||||||
Preferred stock, shares outstanding | 1,000 | 1,000 | ||||||||
Preferred stock stated value | $ 0.001 | $ 0.001 | ||||||||
Series F Preferred Stock [Member] | Subsequent Event [Member] | ||||||||||
Class of Stock [Line Items] | ||||||||||
ntidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 192,073,017 | |||||||||
Series G Preferred Stock [Member] | ||||||||||
Class of Stock [Line Items] | ||||||||||
Preferred stock, shares authorized | 3,000 | 3,000 | ||||||||
Debt instrument conversion percentage | 9.90% | |||||||||
Preferred shares, description | On September 16, 2021, the conversion rate for each share of Series G Preferred Stock was amended to equal (i)(a) 6.45% multiplied by, (b) the Fully-Diluted shares as of the Approval Date, divided by (ii) the total number of shares of Series G, (iii) rounded to the nearest thousandths place. The total number of Fully-Diluted Shares shall be set as of, and shall not change after the Approval Date. | |||||||||
Preferred stock, stated value | $ 1,000 | $ 1,000 | ||||||||
Preferred stock, shares issued | 0 | 0 | ||||||||
Preferred stock, shares outstanding | 0 | |||||||||
Preferred stock stated value | $ 0.001 | $ 0.001 | ||||||||
Subscriptions value | $ 4,173,000 | |||||||||
Proceeds from equity | $ 427,000 | |||||||||
Series G Preferred Stock [Member] | Subsequent Event [Member] | ||||||||||
Class of Stock [Line Items] | ||||||||||
ntidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 255,555,556 |
Warrants (Details Narrative)
Warrants (Details Narrative) - USD ($) | Feb. 17, 2021 | Jun. 30, 2021 |
Issuance of warrants, description | The warrants are exercisable for a period of 5 years from the date of issuance. | |
Arena Partners LLP [Member] | ||
Warrants issued | $ 192,073,016 | |
Issuance of warrants, description | Each Warrant is exercisable for a period of five (5) years from the date of issuance at an initial exercise price to (i) 125%, times (ii) the amount determined by dividing (A) $50,000,000, by (B) the total number of shares of preferred stock, Common Stock and Common Stock Equivalents outstanding on such Conversion Date (assuming full conversion or exercise of all then issued and outstanding securities of the Company that are exercisable for or convertible into such equity securities of the Company), subject to adjustment herein, subject to certain beneficial ownership limitations (with a maximum ownership limit of 9.99%). | |
Warrants term | 5 years |
Options (Details Narrative)
Options (Details Narrative) - USD ($) | Feb. 16, 2021 | Jun. 30, 2021 |
Stock options, exercised | $ 0 | |
CZJ License, Inc [Member] | ||
Number of shares acquired, shares | 300,000 | |
Option price per share | $ 10 |
Commitments (Details Narrative)
Commitments (Details Narrative) - USD ($) | May 15, 2021 | May 15, 2021 | Feb. 17, 2021 | Sep. 29, 2020 | Sep. 29, 2020 | Sep. 28, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | Dec. 31, 2020 |
Loss Contingencies [Line Items] | |||||||||||
Management fees | $ 34,000 | ||||||||||
Consulting fees | $ 216,750 | $ 279,500 | |||||||||
Payments for Fees | 57,000 | ||||||||||
Virtue Development [Member] | |||||||||||
Loss Contingencies [Line Items] | |||||||||||
Periodic compensation | 4,250 | ||||||||||
Payment of fees | 25,500 | $ 12,750 | |||||||||
Jeffrey Canouse [Member] | |||||||||||
Loss Contingencies [Line Items] | |||||||||||
Management fees | 48,000 | 34,000 | |||||||||
Walter Hoelzel [Member] | |||||||||||
Loss Contingencies [Line Items] | |||||||||||
Consulting fees | 30,000 | 25,000 | |||||||||
Stuart Sher [Member] | |||||||||||
Loss Contingencies [Line Items] | |||||||||||
Consulting fees | 30,000 | 25,000 | |||||||||
Employment Agreement [Member] | |||||||||||
Loss Contingencies [Line Items] | |||||||||||
Consulting fees | 23,077 | ||||||||||
Employment Agreement [Member] | Jeffrey Canouse [Member] | |||||||||||
Loss Contingencies [Line Items] | |||||||||||
Base salary | $ 8,000 | ||||||||||
Management fees | 24,000 | ||||||||||
Employment Agreement [Member] | Jeffrey Canouse [Member] | Maximum [Member] | |||||||||||
Loss Contingencies [Line Items] | |||||||||||
Officer's compensation, description | Beginning on the first anniversary date of the initial salary increase and continue on each anniversary of the increase date, the base salary shall be increased by an amount not less than 5% times the base salary in effect, plus any additional amount as determined by the Company’s Board of Directors. | ||||||||||
Employment Agreement [Member] | Walter Hoelzel [Member] | |||||||||||
Loss Contingencies [Line Items] | |||||||||||
Base salary | $ 5,000 | ||||||||||
Consulting fees | 15,000 | ||||||||||
Employment Agreement [Member] | Stuart Sher [Member] | |||||||||||
Loss Contingencies [Line Items] | |||||||||||
Consulting fees | 15,000 | ||||||||||
Employment Agreement [Member] | Henry Turner [Member] | |||||||||||
Loss Contingencies [Line Items] | |||||||||||
Base salary | $ 15,000 | ||||||||||
Periodic compensation | $ 150,000 | ||||||||||
Consulting Agreement [Member] | Oscaleta Partners L L C [Member] | |||||||||||
Loss Contingencies [Line Items] | |||||||||||
Consulting fees | 75,000 | ||||||||||
Periodic compensation | 25,000 | ||||||||||
Consulting Agreement [Member] | Interim Reporting | |||||||||||
Loss Contingencies [Line Items] | |||||||||||
Consulting fees | 30,000 | $ 5,000 | |||||||||
Periodic compensation | $ 5,000 | ||||||||||
Security Agreement [Member] | |||||||||||
Loss Contingencies [Line Items] | |||||||||||
Proceeds from loans | $ 16,500,000 |
Additional Cash Flow Informat_2
Additional Cash Flow Information (Details Narrative) - USD ($) | Nov. 02, 2020 | Oct. 28, 2020 | Jun. 30, 2021 | Dec. 31, 2020 | Jul. 23, 2020 |
Convertible notes payable | $ 16,900 | ||||
Leases payable | $ 715,228 | ||||
Preferred stock shares issued | 0 | ||||
Preferred stock, value, issued | |||||
Goodwill | 6,504,326 | ||||
Common Stock [Member] | |||||
Convertible notes payable | $ 17,300 | $ 9,500 | |||
Debt instrument converted shares | 1,730,000 | 1,900,000 | |||
Sovryn Holdings Inc [Member] | |||||
Goodwill | $ 4,224,962 | ||||
Sovryn Holdings Inc [Member] | Common Stock [Member] | |||||
Common shares | 100 | ||||
Series D Convertible Preferred Stock Stock [Member] | |||||
Convertible notes payable | $ 668,214 | ||||
Debt instrument converted shares | 230,000 | ||||
Preferred stock shares issued | 230,000 | ||||
Series D Convertible Preferred Stock Stock [Member] | Common Stock [Member] | |||||
Debt instrument converted shares | 1,000 | ||||
Series E Preferred Stock [Member] | |||||
Preferred stock shares issued | 1,000 | 1,000 | |||
Preferred stock, value, issued | $ 1 | ||||
Series E Preferred Stock [Member] | Sovryn Holdings Inc [Member] | |||||
Preferred stock shares issued | 1,000 | ||||
Preferred stock, value, issued | $ 4,225,062 |
Subsequent Events (Details Narr
Subsequent Events (Details Narrative) - USD ($) | Sep. 20, 2021 | Sep. 16, 2021 | Aug. 31, 2021 | Jul. 13, 2021 | Jul. 23, 2020 | Aug. 20, 2021 | Aug. 19, 2021 | Jun. 30, 2021 | Dec. 31, 2020 | Nov. 02, 2020 | Oct. 28, 2020 |
Subsequent Event [Line Items] | |||||||||||
Preferred stock authorized | 50,000,000 | 50,000,000 | |||||||||
Convertible Notes Payable | $ 16,900 | ||||||||||
Debt Instrument, Convertible, Conversion Price | $ 0.01 | $ 0.015 | |||||||||
Preferred Stock, Par or Stated Value Per Share | $ 0.001 | $ 0.001 | |||||||||
Conversion of Stock, Shares Issued | 1,785,000 | ||||||||||
Common Stock [Member] | |||||||||||
Subsequent Event [Line Items] | |||||||||||
Convertible Notes Payable | $ 17,300 | $ 9,500 | |||||||||
Debt Instrument, Convertible, Conversion Price | $ 0.01 | $ 0.005 | |||||||||
Series G Preferred Stock [Member] | |||||||||||
Subsequent Event [Line Items] | |||||||||||
Preferred stock authorized | 3,000 | 3,000 | |||||||||
Preferred Stock, Par or Stated Value Per Share | $ 0.001 | $ 0.001 | |||||||||
Subsequent Event [Member] | Exchange Agreement [Member] | Common Stock [Member] | |||||||||||
Subsequent Event [Line Items] | |||||||||||
Conversion of Stock, Shares Issued | 1,091,388,889 | ||||||||||
Subsequent Event [Member] | Six Percentage Convertible Promissory Note [Member] | |||||||||||
Subsequent Event [Line Items] | |||||||||||
Convertible Notes Payable | $ 500,000 | ||||||||||
Debt Instrument, Convertible, Conversion Price | $ 0.021 | ||||||||||
Subsequent Event [Member] | Sovryn Holdings Inc [Member] | Phoenix L L C [Member] | |||||||||||
Subsequent Event [Line Items] | |||||||||||
Stock Issued During Period, Value, Purchase of Assets | $ 100,000 | ||||||||||
Subsequent Event [Member] | Sovryn Holdings Inc [Member] | DAmico Brothers Broadcasting Corp [Member] | |||||||||||
Subsequent Event [Line Items] | |||||||||||
Stock Issued During Period, Value, Purchase of Assets | $ 75,000 | ||||||||||
Subsequent Event [Member] | CZJ License, Inc [Member] | |||||||||||
Subsequent Event [Line Items] | |||||||||||
Repayments of Related Party Debt | $ 33,144 | ||||||||||
Subsequent Event [Member] | CEO and Director [Member] | |||||||||||
Subsequent Event [Line Items] | |||||||||||
Related party receivable | $ 89,573 | ||||||||||
Subsequent Event [Member] | Convertible Series G Preferred Stock [Member] | |||||||||||
Subsequent Event [Line Items] | |||||||||||
Preferred stock authorized | 4,600 | 3,000 | |||||||||
Subsequent Event [Member] | Preferred Series E-1 [Member] | |||||||||||
Subsequent Event [Line Items] | |||||||||||
Preferred stock authorized | 1,152,500 | ||||||||||
Preferred Stock, Par or Stated Value Per Share | $ 0.001 | ||||||||||
[custom:PreferredStockStatedValuePerShare-0] | $ 0.87 | ||||||||||
Subsequent Event [Member] | Convertible Series E Preferred Stock [Member] | Exchange Agreement [Member] | |||||||||||
Subsequent Event [Line Items] | |||||||||||
Conversion of Stock, Shares Converted | 1,000 | ||||||||||
Subsequent Event [Member] | Convertible Series E-1 Preferred Stock [Member] | Exchange Agreement [Member] | |||||||||||
Subsequent Event [Line Items] | |||||||||||
Conversion of Stock, Shares Issued | 1,152,500 | ||||||||||
Subsequent Event [Member] | Private Placement [Member] | Series G Preferred Stock [Member] | |||||||||||
Subsequent Event [Line Items] | |||||||||||
Proceeds from Issuance of Preferred Stock and Preference Stock | $ 427,000 |