Cover
Cover - shares | 3 Months Ended | |
Mar. 31, 2023 | May 08, 2023 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Document Period End Date | Mar. 31, 2023 | |
Document Fiscal Period Focus | Q1 | |
Document Fiscal Year Focus | 2023 | |
Current Fiscal Year End Date | --12-31 | |
Entity File Number | 000-53259 | |
Entity Registrant Name | POWERDYNE INTERNATIONAL, INC. | |
Entity Central Index Key | 0001435617 | |
Entity Tax Identification Number | 20-5572576 | |
Entity Incorporation, State or Country Code | DE | |
Entity Address, Address Line One | 45 Main Street | |
Entity Address, City or Town | North Reading | |
Entity Address, State or Province | MA | |
Entity Address, Postal Zip Code | 01864 | |
City Area Code | (401) | |
Local Phone Number | 739-3300 | |
Entity Current Reporting Status | No | |
Entity Interactive Data Current | No | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | true | |
Elected Not To Use the Extended Transition Period | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 1,884,930,584 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Unaudited) - USD ($) | Mar. 31, 2023 | Dec. 31, 2022 |
Current Assets: | ||
Cash | $ 72,771 | $ 33,962 |
Accounts receivable | 227,166 | 222,489 |
Inventory | 53,135 | 54,982 |
Total current assets | 353,072 | 311,433 |
Property and equipment | ||
Cryptocurrency miners | 15,000 | |
Less: accumulated depreciation | (15,000) | |
Total property and equipment | ||
Intangible asset - Cryptocurrency | 9,536 | 6,103 |
Total Assets | 362,608 | 317,536 |
Current Liabilities: | ||
Accounts payable and accrued expenses | 117,708 | 78,920 |
Advance deposits | 20,895 | 10,231 |
Sales tax payable | 1,040 | 1,241 |
Income tax payable | 2,950 | 2,950 |
Total Current Liabilities | 355,672 | 316,420 |
Stockholders’ (Deficit) / Equity: | ||
Preferred stock, $0.0001 par value, 20,000,000 shares authorized, 2,000,000 shares issued and outstanding as of March 31, 2023, and-0- as of December 31, 2022 | 200 | 200 |
Common stock, $0.0001 par value, 2,000,000,000 shares authorized, 1,884,930,584 shares issued and outstanding as of March 31, 2023, and 1,862,430,584 shares issued and outstanding as of December 31, 2022 | 188,493 | 186,243 |
Additional paid-in capital | 4,814,651 | 4,807,901 |
Accumulated deficit | (4,996,408) | (4,993,228) |
Total Stockholders’ (Deficit) / Equity | 6,936 | 1,115 |
Total Liabilities and Stockholders’ (Deficit) / Equity | 362,608 | 317,536 |
Related Party [Member] | ||
Current Liabilities: | ||
Due to related party-CEO | $ 213,079 | $ 223,079 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares | Mar. 31, 2023 | Dec. 31, 2022 |
Statement of Financial Position [Abstract] | ||
Preferred stock, par value | $ 0.0001 | $ 0.0001 |
Preferred stock, shares authorized | 20,000,000 | 20,000,000 |
Preferred stock, shares issued | 2,000,000 | 0 |
Preferred stock, shares outstanding | 2,000,000 | 0 |
Common stock, par value | $ 0.0001 | $ 0.0001 |
Common stock, shares authorized | 2,000,000,000 | 2,000,000,000 |
Common stock, shares issued | 1,884,930,584 | 1,862,430,584 |
Common stock, shares outstanding | 1,884,930,584 | 1,862,430,584 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Income Statement [Abstract] | ||
Revenues | $ 450,274 | $ 32,056 |
Cost of revenues | 302,723 | 32,012 |
Gross profit | 147,551 | 44 |
Operating expenses | 150,731 | 39,355 |
Loss from operations | (3,180) | (39,311) |
Loss on related party acquisition | 1,391,370 | |
Loss before income taxes | (3,180) | (1,430,681) |
Income tax (provision) / benefit | ||
Net loss | $ (3,180) | $ (1,430,681) |
Basic and diluted loss per common share | $ 0 | $ 0 |
shares outstanding | 1,870,430,584 | 1,862,430,584 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Changes in Stockholders' Deficit / Equity (Unaudited) - USD ($) | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Beginning balance, value at Dec. 31, 2021 | $ 186,243 | $ 3,308,101 | $ (3,651,212) | $ (156,868) | |
Beginning balance, shares at Dec. 31, 2021 | 1,862,430,584 | ||||
Issuance of Preferred Stock for Merger Transaction with Related Party | $ 200 | 1,499,800 | 1,500,000 | ||
Issuance of Preferred Stock for Merger Transaction with Related Party, shares | 2,000,000 | ||||
Net Loss | (1,430,681) | (1,430,681) | |||
Ending balance, value at Mar. 31, 2022 | $ 200 | $ 186,243 | 4,807,901 | (5,081,893) | (87,549) |
Ending balance, shares at Mar. 31, 2022 | 2,000,000 | 1,862,430,584 | |||
Beginning balance, value at Dec. 31, 2022 | $ 200 | $ 186,243 | 4,807,901 | (4,993,228) | 1,115 |
Beginning balance, shares at Dec. 31, 2022 | 2,000,000 | 1,862,430,584 | |||
Net Loss | (3,180) | (3,180) | |||
Issuance of common stock for services | $ 2,250 | 6,750 | 9,000 | ||
Issuance of common stock for services, shares | 22,500,000 | ||||
Ending balance, value at Mar. 31, 2023 | $ 200 | $ 188,493 | $ 4,814,651 | $ (4,996,408) | $ 6,936 |
Ending balance, shares at Mar. 31, 2023 | 2,000,000 | 1,884,930,584 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Operating Activities: | ||
Net loss | $ (3,180) | $ (1,430,681) |
Adjustments to reconcile net loss to net cash provided by / (used) in operating activities: | ||
Depreciation and amortization | 750 | |
Reversal of non-cash related party loss on acquisition | 1,391,370 | |
Reversal of non-cash increase in - intangible assets - Crypto | (3,433) | |
Issuance of common stock for consulting services | 9,000 | |
Changes in operating assets and liabilities: | ||
Accounts receivable | (4,677) | (32,723) |
Inventory | 1,847 | (82,588) |
Accounts payable and accrued expenses | 38,789 | (5,199) |
Advance deposits | 10,664 | 4,669 |
Sales and income taxes payable | (201) | 255 |
Net cash provided by / (used in) operating activities | 48,810 | (154,146) |
Investing Activities: | ||
Increase in intangible asset - Cryptocurrency | 292 | |
Net cash provided by investing activities | 292 | |
Financing Activities: | ||
Due to related party - CEO (reimbursement) / advances | (10,000) | 214,771 |
Net cash provided by / (used in) financing activities | (10,000) | 214,771 |
Net increase in cash | 38,810 | 60,917 |
Cash, beginning of period | 33,962 | 9,057 |
Cash, end of period | 72,771 | 69,974 |
Non-cash investing and financing activities: | ||
Preferred stock issued upon acquisition | 1,500,000 | |
Supplemental disclosure if cash flow information | ||
Cash paid for interest | ||
Cash paid for taxes |
ORGANIZATION
ORGANIZATION | 3 Months Ended |
Mar. 31, 2023 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
ORGANIZATION | 1. ORGANIZATION Powerdyne, Inc., was incorporated on February 2, 2010, in Nevada, and is registered to do business in Rhode Island and Massachusetts. On February 7, 2011, Powerdyne, Inc. merged with Powerdyne International, Inc., formerly Greenmark Acquisition Corporation, a publicly held Delaware corporation. On December 13, 2010, Powerdyne International, Inc., formerly Greenmark Acquisition Corporation, filed an Amended and Restated Articles of Incorporation in order to, among other things, increase the authorized capital stock to 300,000,000 0.0001 At the closing of the merger, each share of Powerdyne, Inc.’s common stock issued and outstanding immediately prior to the closing of the Merger was exchanged for the right to receive 7,520 188,000,000 In 2014, Powerdyne International, Inc. filed an amendment to its Articles of Incorporation which increased the authorized capital stock to 550,000,000 0.0001 On January 26, 2015, Powerdyne International, Inc. filed an amendment to its Articles of Incorporation which increased the authorized capital stock to 2,020,000,000 2,000,000,000 0.0001 20,000,000 0.0001 On March 6, 2022, pursuant to a Securities Purchase Agreement (the “SPA”), Powerdyne International, Inc. (the “Company”), acquired all of the issued and outstanding membership interests of Creative Motion Technology, LLC, a Massachusetts limited liability company, (the “Membership Interests”). Membership Interests are owned by Mr. James F. O’Rourke, the principal owner and sole director and officer of the Company. The purchase price paid by the Company was 2,000,000 1,500,000 1,000 0.0001 Creative Motion Technology, LLC (“CM Tech”) is a small New England based motor manufacturer founded in 2004 and has been in business for over 17 years. CM Tech’s management has over 60 years of design and manufacturing expertise, specializing in the design and custom building of industrial servomotors both brush and brushless motor designs. CM Tech’s current market focus is on the niche motor demands for low volume, high-quality cost-effective motors which are primarily used in industrial robotics for the semiconductor manufacturing industry. The motors that CM Tech currently has in production primarily provide the X, Y, and Z axis articulation in factory automation robots. Included with CM Tech acquisition is Frame One, which is a custom picture framing shop located in North Reading, MA. Frame One has been in business since 2006 and brings with it a strong client base consisting of local schools, colleges, artist guilds, artists, interior decorators/designers, museums, photographers, art galleries and theaters. POWERDYNE INTERNATIONAL, INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS March 31, 2023, and 2022 1. ORGANIZATION (continued) The issuance of the 2,000,000 |
REVERSE MERGER ACCOUNTING
REVERSE MERGER ACCOUNTING | 3 Months Ended |
Mar. 31, 2023 | |
Business Combination and Asset Acquisition [Abstract] | |
REVERSE MERGER ACCOUNTING | 2. REVERSE MERGER ACCOUNTING On February 7, 2011, Greenmark Acquisition Corporation, which was a publicly held Delaware corporation, merged with Powerdyne, Inc. Upon closing of the transaction, Greenmark Acquisition Corporation, the surviving corporation in the merger, changed its name to Powerdyne International, Inc. The merger was accounted for as a reverse-merger, and recapitalization in accordance with generally accepted accounting principles in the United States (“GAAP”). Powerdyne, Inc. was the acquirer for financial reporting purposes and the Company was the acquired company. Consequently, the assets and liabilities and the operations that are reflected in the historical financial statements prior to the merger are those of Powerdyne, Inc. and have been recorded at the historical cost basis of Powerdyne, Inc., and the financial statements after completion of the merger include the assets and liabilities of the Company and Powerdyne, Inc., historical operations of Powerdyne, Inc. and operations of the Company from the closing date of the merger. Common stock and the corresponding capital amounts of the Company pre-merger were retroactively restated as capital stock shares reflecting the exchange ratio in the merger. In conjunction with the merger, the Company received no cash and assumed no liabilities from Greenmark Acquisition Corporation. |
SUMMARY OF SIGNIFCANT ACCOUNTIN
SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES | 3 Months Ended |
Mar. 31, 2023 | |
Accounting Policies [Abstract] | |
SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES | 3. SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES The summary of significant accounting policies presented below is designed to assist in understanding the Company’s financial statements. Such condensed consolidated financial statements and accompanying notes are a representation of the Company’s management, who are responsible for integrity and objectivity. These accounting policies conform to accounting principles generally accepted in the United States of America (‘GAAP”) in all material respects and have been consistently applied in preparing the accompany condensed consolidated financial statements. Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles (“GAAP”) as promulgated in the United States of America. POWERDYNE INTERNATIONAL, INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS March 31, 2023, and 2022 3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) Going Concern Since its inception, the Company has devoted substantially all of its efforts to business planning, research and development, recruiting management and technical staff, acquiring operating assets and raising capital. As of March 31, 2023, the Company had an accumulated deficit of $ 4,996,408 The Company’s activities will necessitate significant uses of working capital beyond March 31, 2023. Additionally, the Company’s capital requirements will depend on many factors, including the success of the Company’s sales and the status of competitive products. The Company plans to continue financing its operations with cash received from financing activities, revenue from operations and or affiliate funding. While the Company strongly believes that its capital resources will be sufficient in the near term, there is no assurance that the Company’s activities will generate sufficient revenues to sustain its operations without additional capital or, if additional capital is needed, that such funds if available, will be obtainable on terms satisfactory to the Company. The accompanying condensed consolidated financial statements have been prepared assuming that the Company will continue as a going concern; however, the above condition raises substantial doubt about the Company’s ability to do so. The financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classifications of liabilities that may result should the Company be unable to continue as a going concern. Principals of Consolidation Our condensed consolidated financial statements include the accounts of Powerdyne International, Inc. and its one division and related subsidiaries. All intercompany transactions have been eliminated. Concentration of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash and cash equivalents. The Company places its cash with high quality banking institutions. From time to time, the Company may maintain cash balances at certain institutions in excess of the Federal Deposit Insurance Corporation limit. The Company has not incurred any loss from this risk. Use of Estimates In preparing these unaudited condensed consolidated financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amount of revenues and expenses during the reporting periods. Actual results could differ from those estimates. POWERDYNE INTERNATIONAL, INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS March 31, 2023, and 2022 3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) Cash and Cash Equivalents The Company considers all highly liquid investments with maturities of three months or less when purchased to be cash equivalents. The Company did not have any cash equivalents as of March 31, 2023, and December 31, 2022, respectively. Allowance for Sale Returns and Doubtful Accounts Sales Returns – We may, on a case-by-case basis, accept returns of products from our customers, without restocking charges, when they can demonstrate an acceptable cause for the return. Doubtful Accounts – Accounts receivable are recorded at net realizable value or the amount we expect to collect on gross customer trade receivables. We evaluate the collectability of our accounts receivable based on a combination of factors. If we become aware of a customer’s inability to meet its financial obligations after a sale has occurred, we record an allowance to reduce the net receivable to the amount we reasonably believe we will be able to collect from the customer. For all other customers, we recognize allowances for doubtful accounts based on the length of time the receivables are past due, the current business environment and historical experience. If the financial condition of our customers were to deteriorate or if economic conditions worsen, additional allowances may be required in the future. All of our accounts receivable are trade-related receivables. The allowance for sales returns and doubtful accounts as of March 31, 2023, amounted to $ 0 0 The Company sometimes receives cash deposits in advance of manufacturing and shipping its products. As of March 31, 2023, there is $ 20,895 10,231 Inventory Inventory, consisting principally of products held for sale, is stated lower of cost, using the first-in, first-out method, and net realizable value. The amount presented in the accompanying consolidated balance sheet has no valuation allowance. We regularly evaluate our inventory to identify costs in excess of the lower of cost and net realizable value, slow-moving inventory and potential obsolescence. Equipment Equipment is stated at cost. Capital expenditure for improvements and upgrades to existing equipment are also capitalized. Maintenance and repairs are expensed as incurred. The computer equipment is depreciated over 5 0 750 POWERDYNE INTERNATIONAL, INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS March 31, 2023, and 2022 3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) Intangible Asset – Cryptocurrency The Company considers intangible assets - cryptocurrency to be revenue that has been earned, but for which no cash has been received. Intangible assets consist of crypto mined coins that are held in a digital wallet and have not been cashed out. The basis of the valuation is the market price of the Sia coins on March 31, 2023. The Company considers this to be an intangible asset under GAAP guidelines. The Company had $ 9,536 6,103 3,443 The Company disposed of all of its cryptocurrency intangible assets on April 3, 2023, and closed our cryptocurrency brokerage account. Impairment of Long-Lived Assets and Long-Lived Assets to be Disposed of In accordance with ASC 360, the Company evaluates long-lived assets for impairment whenever events or changes in circumstances indicate that their net book value may not be recoverable. POWERDYNE INTERNATIONAL, INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS March 31, 2023, and 2022 3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) Impairment of Long-Lived Assets and Long-Lived Assets to be Disposed of (Continued) When such factors and circumstances exist, the Company compares the projected undiscounted future cash flows associated with the related asset or group of assets over their estimated useful lives against their respective carrying amount. Impairment, if any, is based on the excess of the carrying amount over the fair value, based on market value when available, or discounted expected cash flows, of those assets and is recorded in the period in which the determination is made. The Company’s management currently believes there is no impairment of its long-lived assets. There can be no assurance, however, that market conditions will not change or demand for the Company’s products under development will continue. Either of these could result in future impairment of long-lived assets. Shipping Activities Outbound shipping changes to customers are included in “Product revenue”. Outbound shipping-related costs are included in “Costs of products sold”. Stock-Based Compensation We account for all share-based compensation in accordance ASC 718-20 Stock-Based Compensation cost is measured at the grant date, based on the estimated fair value of the award, and is recognized as expense over the requisite vesting period. Income Taxes We account for income taxes under the asset and liability method. Deferred tax assets and liabilities are recognized for future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in years in which the temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in the tax rates is recognized in income in the period that includes the enactment date. Valuation allowances are recorded, when necessary, to reduce deferred tax assets to the amount expected to be realized. ASC 740, Income Taxes (“ASC 740”), which clarifies the accounting and disclosure for uncertainty in tax position, as defined, seeks to reduce the diversity in practice associated with certain aspect of the recognition and measurement related to accounting for income taxes. We adopted the provisions of ASC 740 as of January 1, 2007, and have analyzed filming positions in each of the federal and state jurisdictions where are required to file income tax returns, as well as all open tax years in these jurisdictions. We have identified the U.S. federal and Massachusetts as our “major” tax jurisdictions. With limited exceptions, we remain subject to Internal Revenue Service (“IRS”) examination of our income tax returns filed within the last three (3) years, and to Massachusetts Department of Revenue examination of our income tax returns within the last four (4) years. However, certain tax attribute carryforwards which will remain subject to review and adjustment by the relevant tax authorities until the statute of limitations closes with respect to the year in which such attributes are utilized. We believe that our income tax filing positions and deductions will be sustained in the audit and do not anticipate any adjustments that will result in a material change to our financial position. Therefore, no reserves for uncertain tax positions have been recorded pursuant to ASC 740. Our policy for recording interest and penalties associated with income-based tax audits is to record such items as a component of income taxes. Income taxes payable as of March 31, 2023, and December 31, 2022, was $ 2,950 Fair Value of Financial Instruments The Company follows guidance for accounting for fair value measurements of financial assets and financial liabilities and for fair value measurements of nonfinancial items that are recognized or disclosed at fair value in the financial statements on a recurring basis. Additionally, the Company adopted guidance for fair value measurement related to nonfinancial items that are recognized and disclosed at fair value in the financial statements on a nonrecurring basis. The guidance establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to measurements involving significant unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are as follows: Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. Level 2 inputs are inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. Level 3 inputs are unobservable inputs for the asset or liability. The Company monitors the market conditions and evaluates the fair value hierarchy levels at least quarterly. For any transfers in and out of the levels of the fair value hierarchy, the Company elects to disclose the fair value measurement at the beginning of the reporting period during which the transfer occurred. The Company’s financial instruments consisted of cash, accounts receivable, intangible assets – cryptocurrency, accounts payable and accrued expenses, advance deposit, due to related party - CEO, sales tax payable, and income tax payable. The estimated fair value of these financial instruments approximates its carrying amount due to the short maturity of these instruments. Loss per Common Share Basic loss per common share excludes dilutive securities and is computed by dividing net loss by the weighted average number of common shares outstanding during the period. Diluted earnings per common share reflect the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the earnings of the entity. As of March 31, 2023, and December 31, 2022, there were no 2,000,000 POWERDYNE INTERNATIONAL, INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS March 31, 2023, and 2022 3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) The following table represents the computation of basic and diluted losses per share: Loss per share is based upon the weighted average shares of common stock outstanding. SCHEDULE OF COMPUTATION OF BASIC AND DILUTED INCOME (LOSS) PER SHARE March 31, 2023 March 31 2022 For the three For the three months ended months ended March 31, 2023 March 31 2022 Loss available for common shareholders $ (3,180 ) $ (1,430,681 ) Basic and fully diluted loss per common share $ (0.00 ) $ (0.00 ) Weighted average common shares outstanding – basic and diluted 1,870,430,584 1,862,430,584 Use of Estimates and Assumptions Our management has made several estimates and assumptions relating to the reporting of assets and liabilities and the disclosure of contingent assets and liabilities to prepare these condensed consolidated financial statements in conformity with accounting principles generally accepted in the United States of America. Actual results could differ from those estimates. Recent Accounting Guidance Not Yet Adopted Accounting for Income Taxes In December 2019, the FASB issued Accounting Standards Update (“ASU”) 2019-12, “Simplifying the Accounting for Income Taxes” “Income Taxes” In October 2020, the FASB issued ASU No. 2020-10 Codification Improvements, The Company has implemented all new accounting pronouncements that are in effect and that may impact its condensed consolidated financial statements and does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations. POWERDYNE INTERNATIONAL, INC. NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS March 31, 2023, and 2022 3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) Revenue Recognition Sia coin is the only crypto coin that Powerdyne is mining. The coins are held in the Company’s Sia coin digital wallet. When coins are going to be exchanged for USD, they are then transferred to the company’s exchange wallet held at a US based crypto exchange which provides support for two-factor authentication. We also have wallet password management, and offsite backups. The coins are held in anticipation of future price appreciation as crypto currencies become more widely accepted, but some coins may be exchanged for USD on an as needed basis. The Company also realizes there is no guarantee the coins will appreciate in value. Revenue is recognized on the last date of the quarter based on the market price of the Sia coin at that date times the number of coins in the wallet and the difference between the current market value and the value recorded on the consolidated balance sheet in previous quarter. The Company no longer is in the business of producing Sia coins. As of March 6, 2022, with the acquisition of CM Tech, we recognize revenue from contracts with customers in accordance with Financial Accounting Standards Board (“FASB”) ASC Topic 606, “Revenue from Contracts with Customers” (“ASC 606”). Revenue is recognized at the point at which control of the underlying products are transferred to the customer. Satisfaction of our performance obligations occurs upon the transfer of control of products from our facilities. We consider customer purchase orders to be the contracts with a customer. All revenue is generated from contracts with customers. Business Segments We primarily service the Original Equipment Manufacturers (OEM’s) in the semiconductor market by supplying custom designed motors for the robotics used in semiconductor manufacturing equipment. We provide cost-effective value-added turn-key solutions to our clients’ drives and articulation needs. The Market We service the Global Semiconductor Equipment Manufacture’s our Sales to International customers were 36 % and 54 % of our total sales in 2022 and 2021, respectively. POWERDYNE INTERNATIONAL, INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS March 31, 2023, and 2022 |
DUE TO RELATED PARTY _ CEO
DUE TO RELATED PARTY – CEO | 3 Months Ended |
Mar. 31, 2023 | |
Related Party Transactions [Abstract] | |
DUE TO RELATED PARTY – CEO | 4. DUE TO RELATED PARTY – CEO During the three months ended March 31, 2023, the Company’s CEO was reimbursed $ 10,000 214,771 213,079 223,079 |
ACQUISITION OF PRIVATE COMPANY
ACQUISITION OF PRIVATE COMPANY OWNED BY CEO | 3 Months Ended |
Mar. 31, 2023 | |
Business Combination and Asset Acquisition [Abstract] | |
ACQUISITION OF PRIVATE COMPANY OWNED BY CEO | 5. ACQUISITION OF PRIVATE COMPANY OWNED BY CEO On March 6, 2022, pursuant to a Securities Purchase Agreement (the “SPA”), Powerdyne International, Inc. (the “Company”), acquired 100 2,000,000 1,500,000 1,000 0.0001 Creative Motion Technology, LLC (“CM Tech”) is a small New England based motor manufacturer founded in 2004 and has been in business for over 17 years. CM Tech’s management has over 60 years of design and manufacturing expertise, specializing in the design and custom building of industrial servomotors both brush and brushless motor designs. CM Tech’s current market focus is on the niche motor demands for low volume, high-quality cost-effective motors which are primarily used in industrial robotics for the semiconductor manufacturing industry. The motors that CM Tech currently has in production primarily provide the X, Y, and Z axis articulation in factory automation robots. Included with CM Tech acquisition is Frame One, which is a custom picture framing shop located in North Reading, MA. Frame One has been in business since 2006 and brings with it a strong client base consisting of local schools, colleges, artist guilds, artists, interior decorators/designers, museums, photographers, art galleries and theaters. The foregoing description of the SPA does not purport to be complete and is qualified in its entirety by reference to the complete text of the document, which is filed as an exhibit to this report and is incorporated herein by reference. The following table summarizes the consideration transferred to acquire CM Tech and the amounts of identified assets acquired recorded at historical cost at the acquisition date and the consideration provided: SCHEDULE OF AMOUNTS OF IDENTIFIED ASSETS ACQUIRED AND LIABILITIES Cash $ 26,042 Inventory 82,588 Total Assets Acquired 108,630 Loss on acquisition of entity owned by CEO. 1,391,370 The purchase price consists of the following: Preferred Shares 1,500,000 Total Purchase Price $ 1,500,000 The historical cost of the assets acquired includes cash and inventory at approximately $ 108,630 POWERDYNE INTERNATIONAL, INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS March 31, 2023, and 2022 5. ACQUISITION OF PRIVATE COMPANY OWNED BY CEO (Continued) The pro forma information below presents statements of operations data as if the acquisition of CM Tech took place on January 1, 2020. SCHEDULE OF STATEMENTS OF OPERATION Consolidated Consolidated For the year For the year Ended ended December 31, 2021 December 31, 2020 Revenues $ 1,224,290 $ 985,613 Cost of Goods Sold 721,243 525,454 Gross profit $ 503,047 $ 460,159 Operating expenses 265,779 245,531 Net Income $ 237,268 $ 214,628 |
STOCKHOLDERS_ (DEFICIT) _ EQUIT
STOCKHOLDERS’ (DEFICIT) / EQUITY | 3 Months Ended |
Mar. 31, 2023 | |
Equity [Abstract] | |
STOCKHOLDERS’ (DEFICIT) / EQUITY | 6. STOCKHOLDERS’ (DEFICIT) / EQUITY Stock issued for services. On February 27, 2023, the Company issued 7,500,000 On February 27, 2023, the Company issued 15,000,000 The Company recorded $ 9,000 22,500,000 |
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 3 Months Ended |
Mar. 31, 2023 | |
Commitments and Contingencies Disclosure [Abstract] | |
COMMITMENTS AND CONTINGENCIES | 7. COMMITMENTS AND CONTINGENCIES Litigation There are no pending, threatened or actual legal proceedings in which the Company or any subsidiary is a party to. |
SUMMARY OF SIGNIFCANT ACCOUNT_2
SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES (Policies) | 3 Months Ended |
Mar. 31, 2023 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles (“GAAP”) as promulgated in the United States of America. POWERDYNE INTERNATIONAL, INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS March 31, 2023, and 2022 3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) |
Going Concern | Going Concern Since its inception, the Company has devoted substantially all of its efforts to business planning, research and development, recruiting management and technical staff, acquiring operating assets and raising capital. As of March 31, 2023, the Company had an accumulated deficit of $ 4,996,408 The Company’s activities will necessitate significant uses of working capital beyond March 31, 2023. Additionally, the Company’s capital requirements will depend on many factors, including the success of the Company’s sales and the status of competitive products. The Company plans to continue financing its operations with cash received from financing activities, revenue from operations and or affiliate funding. While the Company strongly believes that its capital resources will be sufficient in the near term, there is no assurance that the Company’s activities will generate sufficient revenues to sustain its operations without additional capital or, if additional capital is needed, that such funds if available, will be obtainable on terms satisfactory to the Company. The accompanying condensed consolidated financial statements have been prepared assuming that the Company will continue as a going concern; however, the above condition raises substantial doubt about the Company’s ability to do so. The financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classifications of liabilities that may result should the Company be unable to continue as a going concern. |
Principals of Consolidation | Principals of Consolidation Our condensed consolidated financial statements include the accounts of Powerdyne International, Inc. and its one division and related subsidiaries. All intercompany transactions have been eliminated. |
Concentration of Credit Risk | Concentration of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash and cash equivalents. The Company places its cash with high quality banking institutions. From time to time, the Company may maintain cash balances at certain institutions in excess of the Federal Deposit Insurance Corporation limit. The Company has not incurred any loss from this risk. |
Use of Estimates | Use of Estimates In preparing these unaudited condensed consolidated financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amount of revenues and expenses during the reporting periods. Actual results could differ from those estimates. POWERDYNE INTERNATIONAL, INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS March 31, 2023, and 2022 3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) |
Cash and Cash Equivalents | Cash and Cash Equivalents The Company considers all highly liquid investments with maturities of three months or less when purchased to be cash equivalents. The Company did not have any cash equivalents as of March 31, 2023, and December 31, 2022, respectively. |
Allowance for Sale Returns and Doubtful Accounts | Allowance for Sale Returns and Doubtful Accounts Sales Returns – We may, on a case-by-case basis, accept returns of products from our customers, without restocking charges, when they can demonstrate an acceptable cause for the return. Doubtful Accounts – Accounts receivable are recorded at net realizable value or the amount we expect to collect on gross customer trade receivables. We evaluate the collectability of our accounts receivable based on a combination of factors. If we become aware of a customer’s inability to meet its financial obligations after a sale has occurred, we record an allowance to reduce the net receivable to the amount we reasonably believe we will be able to collect from the customer. For all other customers, we recognize allowances for doubtful accounts based on the length of time the receivables are past due, the current business environment and historical experience. If the financial condition of our customers were to deteriorate or if economic conditions worsen, additional allowances may be required in the future. All of our accounts receivable are trade-related receivables. The allowance for sales returns and doubtful accounts as of March 31, 2023, amounted to $ 0 0 The Company sometimes receives cash deposits in advance of manufacturing and shipping its products. As of March 31, 2023, there is $ 20,895 10,231 |
Inventory | Inventory Inventory, consisting principally of products held for sale, is stated lower of cost, using the first-in, first-out method, and net realizable value. The amount presented in the accompanying consolidated balance sheet has no valuation allowance. We regularly evaluate our inventory to identify costs in excess of the lower of cost and net realizable value, slow-moving inventory and potential obsolescence. |
Equipment | Equipment Equipment is stated at cost. Capital expenditure for improvements and upgrades to existing equipment are also capitalized. Maintenance and repairs are expensed as incurred. The computer equipment is depreciated over 5 0 750 POWERDYNE INTERNATIONAL, INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS March 31, 2023, and 2022 3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) |
Intangible Asset – Cryptocurrency | Intangible Asset – Cryptocurrency The Company considers intangible assets - cryptocurrency to be revenue that has been earned, but for which no cash has been received. Intangible assets consist of crypto mined coins that are held in a digital wallet and have not been cashed out. The basis of the valuation is the market price of the Sia coins on March 31, 2023. The Company considers this to be an intangible asset under GAAP guidelines. The Company had $ 9,536 6,103 3,443 The Company disposed of all of its cryptocurrency intangible assets on April 3, 2023, and closed our cryptocurrency brokerage account. |
Impairment of Long-Lived Assets and Long-Lived Assets to be Disposed of | Impairment of Long-Lived Assets and Long-Lived Assets to be Disposed of In accordance with ASC 360, the Company evaluates long-lived assets for impairment whenever events or changes in circumstances indicate that their net book value may not be recoverable. POWERDYNE INTERNATIONAL, INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS March 31, 2023, and 2022 3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) Impairment of Long-Lived Assets and Long-Lived Assets to be Disposed of (Continued) When such factors and circumstances exist, the Company compares the projected undiscounted future cash flows associated with the related asset or group of assets over their estimated useful lives against their respective carrying amount. Impairment, if any, is based on the excess of the carrying amount over the fair value, based on market value when available, or discounted expected cash flows, of those assets and is recorded in the period in which the determination is made. The Company’s management currently believes there is no impairment of its long-lived assets. There can be no assurance, however, that market conditions will not change or demand for the Company’s products under development will continue. Either of these could result in future impairment of long-lived assets. |
Shipping Activities | Shipping Activities Outbound shipping changes to customers are included in “Product revenue”. Outbound shipping-related costs are included in “Costs of products sold”. |
Stock-Based Compensation | Stock-Based Compensation We account for all share-based compensation in accordance ASC 718-20 Stock-Based Compensation cost is measured at the grant date, based on the estimated fair value of the award, and is recognized as expense over the requisite vesting period. |
Income Taxes | Income Taxes We account for income taxes under the asset and liability method. Deferred tax assets and liabilities are recognized for future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in years in which the temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in the tax rates is recognized in income in the period that includes the enactment date. Valuation allowances are recorded, when necessary, to reduce deferred tax assets to the amount expected to be realized. ASC 740, Income Taxes (“ASC 740”), which clarifies the accounting and disclosure for uncertainty in tax position, as defined, seeks to reduce the diversity in practice associated with certain aspect of the recognition and measurement related to accounting for income taxes. We adopted the provisions of ASC 740 as of January 1, 2007, and have analyzed filming positions in each of the federal and state jurisdictions where are required to file income tax returns, as well as all open tax years in these jurisdictions. We have identified the U.S. federal and Massachusetts as our “major” tax jurisdictions. With limited exceptions, we remain subject to Internal Revenue Service (“IRS”) examination of our income tax returns filed within the last three (3) years, and to Massachusetts Department of Revenue examination of our income tax returns within the last four (4) years. However, certain tax attribute carryforwards which will remain subject to review and adjustment by the relevant tax authorities until the statute of limitations closes with respect to the year in which such attributes are utilized. We believe that our income tax filing positions and deductions will be sustained in the audit and do not anticipate any adjustments that will result in a material change to our financial position. Therefore, no reserves for uncertain tax positions have been recorded pursuant to ASC 740. Our policy for recording interest and penalties associated with income-based tax audits is to record such items as a component of income taxes. Income taxes payable as of March 31, 2023, and December 31, 2022, was $ 2,950 |
Fair Value of Financial Instruments | Fair Value of Financial Instruments The Company follows guidance for accounting for fair value measurements of financial assets and financial liabilities and for fair value measurements of nonfinancial items that are recognized or disclosed at fair value in the financial statements on a recurring basis. Additionally, the Company adopted guidance for fair value measurement related to nonfinancial items that are recognized and disclosed at fair value in the financial statements on a nonrecurring basis. The guidance establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to measurements involving significant unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are as follows: Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. Level 2 inputs are inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. Level 3 inputs are unobservable inputs for the asset or liability. The Company monitors the market conditions and evaluates the fair value hierarchy levels at least quarterly. For any transfers in and out of the levels of the fair value hierarchy, the Company elects to disclose the fair value measurement at the beginning of the reporting period during which the transfer occurred. The Company’s financial instruments consisted of cash, accounts receivable, intangible assets – cryptocurrency, accounts payable and accrued expenses, advance deposit, due to related party - CEO, sales tax payable, and income tax payable. The estimated fair value of these financial instruments approximates its carrying amount due to the short maturity of these instruments. |
Loss per Common Share | Loss per Common Share Basic loss per common share excludes dilutive securities and is computed by dividing net loss by the weighted average number of common shares outstanding during the period. Diluted earnings per common share reflect the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the earnings of the entity. As of March 31, 2023, and December 31, 2022, there were no 2,000,000 POWERDYNE INTERNATIONAL, INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS March 31, 2023, and 2022 3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) The following table represents the computation of basic and diluted losses per share: Loss per share is based upon the weighted average shares of common stock outstanding. SCHEDULE OF COMPUTATION OF BASIC AND DILUTED INCOME (LOSS) PER SHARE March 31, 2023 March 31 2022 For the three For the three months ended months ended March 31, 2023 March 31 2022 Loss available for common shareholders $ (3,180 ) $ (1,430,681 ) Basic and fully diluted loss per common share $ (0.00 ) $ (0.00 ) Weighted average common shares outstanding – basic and diluted 1,870,430,584 1,862,430,584 |
Use of Estimates and Assumptions | Use of Estimates and Assumptions Our management has made several estimates and assumptions relating to the reporting of assets and liabilities and the disclosure of contingent assets and liabilities to prepare these condensed consolidated financial statements in conformity with accounting principles generally accepted in the United States of America. Actual results could differ from those estimates. |
Recent Accounting Guidance Not Yet Adopted | Recent Accounting Guidance Not Yet Adopted Accounting for Income Taxes In December 2019, the FASB issued Accounting Standards Update (“ASU”) 2019-12, “Simplifying the Accounting for Income Taxes” “Income Taxes” In October 2020, the FASB issued ASU No. 2020-10 Codification Improvements, The Company has implemented all new accounting pronouncements that are in effect and that may impact its condensed consolidated financial statements and does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations. POWERDYNE INTERNATIONAL, INC. NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS March 31, 2023, and 2022 3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) |
Revenue Recognition | Revenue Recognition Sia coin is the only crypto coin that Powerdyne is mining. The coins are held in the Company’s Sia coin digital wallet. When coins are going to be exchanged for USD, they are then transferred to the company’s exchange wallet held at a US based crypto exchange which provides support for two-factor authentication. We also have wallet password management, and offsite backups. The coins are held in anticipation of future price appreciation as crypto currencies become more widely accepted, but some coins may be exchanged for USD on an as needed basis. The Company also realizes there is no guarantee the coins will appreciate in value. Revenue is recognized on the last date of the quarter based on the market price of the Sia coin at that date times the number of coins in the wallet and the difference between the current market value and the value recorded on the consolidated balance sheet in previous quarter. The Company no longer is in the business of producing Sia coins. As of March 6, 2022, with the acquisition of CM Tech, we recognize revenue from contracts with customers in accordance with Financial Accounting Standards Board (“FASB”) ASC Topic 606, “Revenue from Contracts with Customers” (“ASC 606”). Revenue is recognized at the point at which control of the underlying products are transferred to the customer. Satisfaction of our performance obligations occurs upon the transfer of control of products from our facilities. We consider customer purchase orders to be the contracts with a customer. All revenue is generated from contracts with customers. Business Segments We primarily service the Original Equipment Manufacturers (OEM’s) in the semiconductor market by supplying custom designed motors for the robotics used in semiconductor manufacturing equipment. We provide cost-effective value-added turn-key solutions to our clients’ drives and articulation needs. The Market We service the Global Semiconductor Equipment Manufacture’s our Sales to International customers were 36 % and 54 % of our total sales in 2022 and 2021, respectively. |
SUMMARY OF SIGNIFCANT ACCOUNT_3
SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Accounting Policies [Abstract] | |
SCHEDULE OF COMPUTATION OF BASIC AND DILUTED INCOME (LOSS) PER SHARE | Loss per share is based upon the weighted average shares of common stock outstanding. SCHEDULE OF COMPUTATION OF BASIC AND DILUTED INCOME (LOSS) PER SHARE March 31, 2023 March 31 2022 For the three For the three months ended months ended March 31, 2023 March 31 2022 Loss available for common shareholders $ (3,180 ) $ (1,430,681 ) Basic and fully diluted loss per common share $ (0.00 ) $ (0.00 ) Weighted average common shares outstanding – basic and diluted 1,870,430,584 1,862,430,584 |
ACQUISITION OF PRIVATE COMPAN_2
ACQUISITION OF PRIVATE COMPANY OWNED BY CEO (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Business Combination and Asset Acquisition [Abstract] | |
SCHEDULE OF AMOUNTS OF IDENTIFIED ASSETS ACQUIRED AND LIABILITIES | The following table summarizes the consideration transferred to acquire CM Tech and the amounts of identified assets acquired recorded at historical cost at the acquisition date and the consideration provided: SCHEDULE OF AMOUNTS OF IDENTIFIED ASSETS ACQUIRED AND LIABILITIES Cash $ 26,042 Inventory 82,588 Total Assets Acquired 108,630 Loss on acquisition of entity owned by CEO. 1,391,370 The purchase price consists of the following: Preferred Shares 1,500,000 Total Purchase Price $ 1,500,000 |
SCHEDULE OF STATEMENTS OF OPERATION | The pro forma information below presents statements of operations data as if the acquisition of CM Tech took place on January 1, 2020. SCHEDULE OF STATEMENTS OF OPERATION Consolidated Consolidated For the year For the year Ended ended December 31, 2021 December 31, 2020 Revenues $ 1,224,290 $ 985,613 Cost of Goods Sold 721,243 525,454 Gross profit $ 503,047 $ 460,159 Operating expenses 265,779 245,531 Net Income $ 237,268 $ 214,628 |
ORGANIZATION (Details Narrative
ORGANIZATION (Details Narrative) - USD ($) | Mar. 06, 2022 | Dec. 13, 2010 | Mar. 31, 2023 | Dec. 31, 2022 | Jan. 26, 2015 | Dec. 31, 2014 |
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||||||
Common stock, shares authorized | 300,000,000 | 2,000,000,000 | 2,000,000,000 | 2,020,000,000 | 550,000,000 | |
Common stock, par value | $ 0.0001 | $ 0.0001 | $ 0.0001 | $ 0.0001 | $ 0.0001 | |
Preferred stock, shares authorized | 20,000,000 | 20,000,000 | 20,000,000 | |||
Preferred stock, par value | $ 0.0001 | $ 0.0001 | $ 0.0001 | |||
Series A Preferred Stock [Member] | ||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||||||
Purchase price, shares | 2,000,000 | |||||
Purchase price, value | $ 1,500,000 | |||||
Convertible preferred stock | 1,000 | |||||
Fixed price | $ 0.0001 | |||||
Series A Preferred Stock [Member] | Securities Purchase Agreement [Member] | ||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||||||
Preferred stock, shares | 2,000,000 | |||||
Convertible preferred stock | 1,000 | |||||
Fixed price | $ 0.0001 | |||||
Common Stock [Member] | ||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||||||
Common stock, shares authorized | 2,000,000,000 | |||||
Holders [Member] | Common Stock [Member] | ||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||||||
Preferred stock, shares | 7,520 | |||||
Number of shares issued to holders under businnes combination | 188,000,000 |
SCHEDULE OF COMPUTATION OF BASI
SCHEDULE OF COMPUTATION OF BASIC AND DILUTED INCOME (LOSS) PER SHARE (Details) - USD ($) | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Accounting Policies [Abstract] | ||
Loss available for common shareholders | $ (3,180) | $ (1,430,681) |
Basic and fully diluted loss per common share | $ 0 | $ 0 |
Weighted average common shares outstanding – basic and diluted | 1,870,430,584 | 1,862,430,584 |
SUMMARY OF SIGNIFCANT ACCOUNT_4
SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES (Details Narrative) - USD ($) | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | Dec. 31, 2022 | |
Product Information [Line Items] | |||
Accumulated deficit | $ 4,996,408 | $ 4,993,228 | |
Allowances for sales returns and doubtful accounts | 0 | $ 0 | |
Advance deposits | 20,895 | 10,231 | |
Depreciation expense | 0 | 750 | |
Intangible assets | 9,536 | 6,103 | |
Reversal of non-cash decrease in - intangible assets - Crypto | 3,443 | ||
Income taxes payable | $ 2,950 | $ 2,950 | |
Dilutive securities | 0 | 0 | |
Preferred stock, shares outstanding | 2,000,000 | 0 | |
Service [Member] | Customer Concentration Risk [Member] | Revenue Benchmark [Member] | |||
Product Information [Line Items] | |||
Concentration Risk, Percentage | 36% | 54% | |
Series A Preferred Stock [Member] | |||
Product Information [Line Items] | |||
Preferred stock, shares outstanding | 2,000,000 | ||
Computer Equipment [Member] | |||
Product Information [Line Items] | |||
Estimated useful life | 5 years |
DUE TO RELATED PARTY _ CEO (Det
DUE TO RELATED PARTY – CEO (Details Narrative) - Chief Executive Officer [Member] - USD ($) | 3 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Dec. 31, 2022 | |
Related Party Transaction [Line Items] | |||
Due to related party - CEO | $ 10,000 | $ 214,771 | |
Related Party [Member] | |||
Related Party Transaction [Line Items] | |||
Other receivables | $ 213,079 | $ 223,079 |
SCHEDULE OF AMOUNTS OF IDENTIFI
SCHEDULE OF AMOUNTS OF IDENTIFIED ASSETS ACQUIRED AND LIABILITIES (Details) | 3 Months Ended |
Mar. 31, 2023 USD ($) | |
Business Combination and Asset Acquisition [Abstract] | |
Cash | $ 26,042 |
Inventory | 82,588 |
Total Assets Acquired | 108,630 |
Loss on acquisition of entity owned by CEO. | 1,391,370 |
Preferred Shares | 1,500,000 |
Total Purchase Price | $ 1,500,000 |
SCHEDULE OF STATEMENTS OF OPERA
SCHEDULE OF STATEMENTS OF OPERATION (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Business Combination and Asset Acquisition [Abstract] | ||
Revenues | $ 1,224,290 | $ 985,613 |
Cost of Goods Sold | 721,243 | 525,454 |
Gross profit | 503,047 | 460,159 |
Operating expenses | 265,779 | 245,531 |
Net Income | $ 237,268 | $ 214,628 |
ACQUISITION OF PRIVATE COMPAN_3
ACQUISITION OF PRIVATE COMPANY OWNED BY CEO (Details Narrative) - USD ($) | Mar. 06, 2022 | Mar. 31, 2023 |
Business Acquisition [Line Items] | ||
Assets acquired cash and inventory | $ 108,630 | |
Series A Preferred Stock [Member] | ||
Business Acquisition [Line Items] | ||
Convertible preferred stock | 1,000 | |
Fixed conversion price | $ 0.0001 | |
Securities Purchase Agreement [Member] | Series A Preferred Stock [Member] | ||
Business Acquisition [Line Items] | ||
Convertible preferred stock | 1,000 | |
Fixed conversion price | $ 0.0001 | |
Securities Purchase Agreement [Member] | Series A Preferred Stock [Member] | Creative Motion Technology, LLC [Member] | ||
Business Acquisition [Line Items] | ||
Number of shares issued | 2,000,000 | |
Number of shares issued, value | $ 1,500,000 | |
Securities Purchase Agreement [Member] | Creative Motion Technology, LLC [Member] | ||
Business Acquisition [Line Items] | ||
Ownership percentage | 100% |
STOCKHOLDERS_ (DEFICIT) _ EQU_2
STOCKHOLDERS’ (DEFICIT) / EQUITY (Details Narrative) - USD ($) | 3 Months Ended | ||
Feb. 27, 2023 | Mar. 31, 2023 | Mar. 31, 2022 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Issuance of stock and warrants for services or claims | $ 9,000 | ||
Common Stock [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Number of shares issued for services | 22,500,000 | ||
Issuance of stock and warrants for services or claims | $ 9,000 | ||
Accounting Services [Member] | Common Stock [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Number of shares issued for services | 7,500,000 | ||
Legal Services [Member] | Common Stock [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Number of shares issued for services | 15,000,000 |