Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Mar. 06, 2019 | Dec. 29, 2018 | |
Document And Entity Information | |||
Entity Registrant Name | Bravo Multinational Inc. | ||
Entity Central Index Key | 1,444,839 | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2017 | ||
Amendment Flag | false | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | Yes | ||
Entity Current Reporting Status | No | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Public Float | $ 706,946 | ||
Entity Common Stock, Shares Outstanding | 8,779,058 | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2,017 | ||
Entity Shell Company | false | ||
Entity Emerging Growth Company | false | ||
Entity Small Business | true | ||
Entity Ex Transition Period | false |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 |
Current Assets | ||
Cash and Cash Equivalents | $ 64 | |
Accounts Receivable (Net of Allowance of $42,312 and $-0-, respectively) | ||
Inventory | 198,000 | |
Notes Receivable - Related Party (Net of Allowance of $418,000 and $-0-, respectively) | ||
Prepaid Expenses | 5,452 | |
Total Current Assets | 64 | 203,452 |
Property and Equipment - Net of Accumulated Depreciation | 410 | 637 |
Total Assets | 474 | 204,089 |
Liabilities | ||
Bank Overdraft | 1,638 | |
Accounts Payable and Accrued Expenses | 130,892 | 111,395 |
Customer Deposits | 35,800 | 35,800 |
Inventory Loan Payable - Related Party | 4,500 | 99,000 |
Due to Related Parties | 64,929 | 71,179 |
Notes Payable | 134,490 | 15,074 |
Note Payable - Related Party | 145,247 | 479,843 |
Accrued Compensation | 399,500 | 560,000 |
Accrued Interest | 41,409 | |
Directors Loans | 783,901 | 1,327,428 |
Total Current Liabilities | 1,699,259 | 2,742,766 |
Notes Payable - Related Party, Net of Current | 480,881 | 167,324 |
Total Liabilities | 2,180,140 | 2,910,090 |
Commitments and Contingencies (Note 12) | ||
Stockholders' Equity | ||
Common Stock - $0.0001 Par; 1,000,000,000 Shares Authorized, 3,812,390 and 858,536 Issued and Outstanding, Respectively | 380 | 85 |
Preferred Stock - $0.0001 Par; 50,000,000 Shares Authorized, 5,000,000 Issued and Outstanding | 500 | |
Additional Paid-In-Capital | 25,758,235 | 23,466,691 |
Accumulated Deficit | (27,938,281) | (26,173,277) |
Total Stockholders' Equity | (2,179,666) | (2,706,001) |
Total Liabilities and Stockholders' Equity | $ 474 | $ 204,089 |
CONSOLIDATED BALANCE SHEETS (Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares | Dec. 31, 2017 | Dec. 31, 2016 |
Statement of Financial Position [Abstract] | ||
Common stock, par value per share | $ 0.0001 | $ 0.0001 |
Common stock, shares authorized | 1,000,000,000 | 1,000,000,000 |
Common stock, shares issued | 3,812,390 | 858,535 |
Common stock, shares outstanding | 3,812,390 | 858,535 |
Preferred stock, par value per share | $ 0.0001 | $ 0.0001 |
Preferred stock, shares authorized | 50,000,000 | 50,000,000 |
Preferred stock, shares issued | 5,000,000 | 5,000,000 |
Preferred stock, shares outstanding | 5,000,000 | 5,000,000 |
CONSOLIDATED STATEMENTS OF OPER
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Revenue | ||
Sale of Equipment | $ 239,000 | $ 100,595 |
Sale of Equipment - Related Parties | 1,428,500 | 641,250 |
Machine Income | 148,478 | |
Total Revenue | 1,815,978 | 741,845 |
Cost of Sales | ||
Cost of Sales | 433,826 | 49,500 |
Cost of Sales - Related Parties | 922,500 | 427,500 |
Total Cost of Sales | 1,356,326 | 477,000 |
Gross Profit | 459,652 | 264,845 |
Expenses | ||
Amortization and Depreciation | 226 | 5,071 |
Commissions | 187,150 | 95,950 |
Corporate Development | 221,667 | |
General and Administrative | 597,484 | 157,884 |
Professional Fees | 211,725 | 514,520 |
Board of Directors Fees | 908,500 | 583,000 |
Stock Compensation Expense | 569,091 | |
Total Expenses | 1,905,085 | 2,147,183 |
Loss from Operations | (1,445,433) | (1,882,338) |
Other (Income) and Expense | ||
Breach of Contract Damages Income | (50,000) | |
Impairment of License Right | 295,000 | |
Loss on Loan Conversion | 180,214 | |
Interest Expense | 139,357 | 57,134 |
Total Other (Income) and Expense | 319,571 | 302,134 |
Loss Before Income Taxes | (1,765,004) | (2,184,472) |
Income Taxes | ||
Net Loss | $ (1,765,004) | $ (2,184,472) |
Weighted Average Number of Common Shares - Basic and Diluted | 2,719,593 | 1,048,357 |
Net Loss Per Common Shares - Basic and Diluted | $ (0.65) | $ (2.08) |
CONSOLIDATED STATEMENTS OF CHAN
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($) | Common Stock [Member] | Preferred Stock [Member] | Additional Paid-In Capital [Member] | Accumulated Deficit [Member] | Total |
Beginning Balance at Dec. 31, 2015 | $ 84 | $ 300 | $ 23,936,614 | $ (23,988,805) | $ (51,807) |
Beginning Balance, Shares at Dec. 31, 2015 | 849,686 | 3,000,000 | |||
Shares Cancelled | |||||
Common Stock Issued in Exchange for Accrued Expenses | $ 2 | 121,288 | 121,290 | ||
Common Stock Issued in Exchange for Accrued Expenses, shares | 20,833 | ||||
Common Stock Issued for Loan Conversion | $ 8 | 311,465 | 311,473 | ||
Common Stock Issued for Loan Conversion, shares | 69,148 | ||||
Common Stock Issued in Exchange for Compensation | $ 3 | 268,921 | 268,924 | ||
Common Stock Issued in Exchange for Compensation, Shares | 33,480 | ||||
Common Stock Issued for Acquistion of Equipment | $ 4 | 337,496 | |||
Common Stock Issued for Acquistion of Equipment, Shares | 41,667 | ||||
Common Stock Issued for Services | $ 4 | 305,007 | 305,011 | ||
Common Stock Issued for Services, Shares | 41,208 | ||||
Common Stock Issued for License Rights | $ 3 | 299,997 | 300,000 | ||
Common Stock Issued for License Rights, shares | 33,333 | ||||
Common Stock Cancelled by Court Order | |||||
Common Stock Cancelled by Court Order, shares | (1,667) | ||||
Common Stock Returned in Exchange for Promissory Notes | $ (23) | (2,313,897) | (2,313,920) | ||
Common Stock Returned in Exchange for Promissory Notes, Shares | (229,153) | ||||
Common Stock Issued to Pay Accrued Board of Directors Fees | |||||
Preferred Stock Issued for Services | $ 200 | 199,800 | 200,000 | ||
Preferred Stock Issued for Services, Shares | 2,000,000 | ||||
Common Stock Issued for Current Year Services and Board of Directors Fees | 571,102 | ||||
Net Loss | (2,184,472) | (2,184,472) | |||
Ending Balance at Dec. 31, 2016 | $ 85 | $ 500 | 23,466,691 | (26,173,277) | (2,706,001) |
Ending Balance. Shares at Dec. 31, 2016 | 858,536 | 5,000,000 | |||
Shares Cancelled | $ (500) | (5,055) | (5,555) | ||
Shares Cancelled, Shares | (570) | (5,000,000) | |||
Common Stock Issued in Exchange for Accrued Expenses | $ 4 | 24,996 | 25,000 | ||
Common Stock Issued in Exchange for Accrued Expenses, shares | 38,463 | ||||
Common Stock Issued for Loan Conversion | $ 37 | 564,831 | 564,868 | ||
Common Stock Issued for Loan Conversion, shares | 372,618 | ||||
Common Stock Issued for Acquistion of Equipment | $ 76 | 449,924 | 450,000 | ||
Common Stock Issued for Acquistion of Equipment, Shares | 762,605 | ||||
Common Stock Returned in Exchange for Promissory Notes | |||||
Expenses Incurred Related to Machine Income Prior to Return to Vendor | 198,026 | 198,026 | |||
Common Stock Issued to Pay Accrued Board of Directors Fees | $ 95 | 495,905 | 496,000 | ||
Common Stock Issued to Pay Accrued Board of Directors Fees, Shares | 954,713 | ||||
Preferred Stock Issued for Services | |||||
Common Stock Issued for Current Year Services and Board of Directors Fees | $ 83 | 562,917 | 563,000 | ||
Common Stock Issued for Current Year Services and Board of Directors Fees, Shares | 826,025 | ||||
Net Loss | (1,765,004) | (1,765,004) | |||
Ending Balance at Dec. 31, 2017 | $ 380 | $ 25,758,235 | $ (27,938,281) | $ (2,179,666) | |
Ending Balance. Shares at Dec. 31, 2017 | 3,812,390 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Cash Flows from Operating Activities: | ||
Net Loss | $ (1,765,004) | $ (2,184,472) |
Non-Cash Adjustments: | ||
Amortization and Depreciation | 226 | 5,071 |
Bad Debt Expense | 463,037 | |
Common Stock Issued for Current Year Services and Board of Directors Fees | 563,000 | 571,102 |
Common Stock Issued for Interest on Debt Conversion | 9,846 | 12,947 |
Loss on Loan Conversion | 180,214 | |
Sales of Equipment in Exchange for Notes, Net of Costs | (1,139,030) | |
Machine Income, Net of Related Costs | (102,612) | |
Impairment of License Right | 295,000 | |
Preferred Stock Issued for Services | 200,000 | |
Changes in Assets and Liabilities: | ||
Prepaid Expenses | 5,452 | 221,910 |
Inventory | 198,000 | 477,000 |
Accounts Payable and Accrued Expenses | 44,497 | 67,196 |
Deposit on Sale of Shares | 35,800 | |
Accrued Board of Directors Fees | 370,500 | 538,000 |
Accrued Interest | (41,409) | 41,409 |
Net Cash Flows Used In Operating Activities | (954,957) | 280,963 |
Cash Flows from Investing Activities | ||
Acquisition of Fixed Assets | (708) | |
Net Cash Flows Used In Investing Activities | (708) | |
Cash Flows from Financing Activities | ||
Bank Overdraft | (1,638) | 1,638 |
Notes Payable | 37,816 | (8,611) |
Notes Payable Related Parties, Net | 30,370 | |
Inventory Loan Payable - Related Party, Net | 778,250 | (238,500) |
Due to Related Parties, Net | 6,250 | |
Director's Loans | 116,473 | (158,635) |
Net Cash Flows Used In Financing Activities | 955,021 | (404,108) |
Net Change in Cash and Cash Equivalents | 64 | (123,853) |
Cash and Cash Equivalents - Beginning of Year | 2,563 | |
Cash and Cash Equivalents - End of Year | 64 | |
Cash Paid During the Year for: | ||
Interest | 551 | |
Income Taxes | ||
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES: | ||
Common Stock Exchanged for Debt Conversion | 564,868 | 311,473 |
Common Stock Issued for Accrued Directors Fees | 496,000 | |
Common Stock Issued for Accrued Expenses | 25,000 | 121,290 |
Gifting of Loans Payable | 375,000 | |
Common Stock Issued for Acquistion of License Right | 300,000 | |
Common Stock Returned in Exchange for Promissory Notes | (2,313,920) | |
Common Stock Issued for Inventory Loan Payment | 450,000 | |
Return of Common Shares for Note Payable | 5,555 | |
Creation of Note Payable from Accrued Compensation | 35,000 | |
Notes Payable Reduced with Machine Sales | $ 290,000 |
Organization & Description of B
Organization & Description of Business | 12 Months Ended |
Dec. 31, 2017 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Organization & Description of Business | NOTE 1 – Organization & Description of Business Bravo Multinational Corporation (the “Company,” “we” or “us”) was originally formed as Montrose Ventures, Inc. in the State of Delaware on May 25, 1989. On April 23, 1996, the Company’s name was changed to Java Group, Inc., and on September 1, 2004 the name was changed to Consolidated General Corp. On August 7, 2007, the company’s name was changed to GoldCorp Holdings Co. On October 15, 2010, our name was changed to GoldLand Holdings Co. On April 6, 2016, we changed our corporate name to Bravo Multinational Incorporated. On March 22, 2016, the board of directors of the company, pursuant to Section 242 of the Delaware General Corporation Law, determined it was in the best interests of the company that the name of the company should be changed to Bravo Multinational Incorporated, with such change of name to be effective upon compliance with all regulatory requirements mandated by FINRA. Further, as a result of the change of the company’s name and upon satisfaction of all regulatory requirements, the trading symbol for the shares of the company’s common stock should be changed to “BRVO,” and the company’s CUSIP identifier be changed to a newly issued number. FINRA granted its approval of the change of the company’s name on April 6, 2016. As a result of the change of name of the company, the company’s trading symbol was changed to “BRVO” and the CUSIP identifier was changed to 10568F109. The Company filed a Form 8-K with the SEC on April 7, 2016, announcing the change of name, trading symbol, and CUSIP identifier. The Company owns land and lease claims on War Eagle Mountain in the state of Idaho. The Company has entered into a lease agreement with Silver Falcon Mining, Inc. (SFMI) under which SFMI is entitled to mine the land and the Company is entitled to a 15% net royalty on all minerals extracted by SFMI from tailing piles on the premises or through shafts or adits located on the premises. The lease agreement was deferred for a two year period, 2014 and 2015, so that SFMI could restructure is finances. The company has now determined that SFMI is unable to pay the lease and that any debt owing by SFMI to the company is not recoverable. The carrying value on such claims both patented and unpatented was fully impaired due to lack of economic viabilities of such properties. The Company is currently engaged in the business of buying and reselling gaming equipment for use in Nicaragua. The Company also buys machines for its own use that are placed in casinos or gaming areas within Nicaragua to obtain monthly revenue streams from the machines’ net win revenue. On May 4, 2016 the company entered into an agreement to purchase 500 gaming machines from Centro de Entretenimiento y Diversion Mombacho S.A., a Nicaraguan corporation, a company owned by our consultant and major shareholder, Julios Kosta. On May 6, 2016 the transaction closed and an initial purchase of 150 gaming machines was completed, with the balance of machines to be purchased over approximately 18 months, prior to December 31, 2017. This initial purchase was paid for with the issuance of 41,667 common restricted shares valued at $337,500 of the registrant and an open loan held by the seller in the amount of $337,500 at an annual rate of 3.5%. Through the year ended December 31, 2016, the company contracted GameTouch LLC, a company owned by our consultant and major shareholder, Julios Kosta to re-sell this equipment. For each gaming machine that GameTouch sells they will receive a commission of $950. During the year ended December 31, 2017 the Company purchased 200 machines from Centro de Entretenimiento to fulfill its contract. Due to civil unrest and the devastation of Hurricane Nate in Nicaragua in October 2017, the Company wrote off the remaining two (2) machines that were held in inventory on December 31, 2017 in the amount of $9,000. On August 16, 2017, the Company purchased 300 gaming machines with the intention of placing these machines in casinos where they will be producing a revenue stream monthly based on net wins of the each machine . |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2017 | |
Summary Of Significant Accounting Policies | |
Summary of Significant Accounting Policies | NOTE 2 – Summary of Significant Accounting Policies Principles of Consolidation The consolidated financial statements include the accounts of Bravo Multinational Incorporated, and its wholly owned subsidiary, Universal Entertainment SAS, Ltd., (the “Company”). All significant inter-company balances have been eliminated in consolidation. As of December 31, 2017, management recognized that Universal is an inactive Florida corporation which no longer operates. Method of Accounting The Company’s consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”). Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Cash and Cash Equivalents Cash and cash equivalents may include time deposits, certificates of deposit, and all highly liquid debt instruments with original maturities of three months or less. The Company maintains cash and cash equivalents at financial institutions located in the United States, which periodically may exceed federally insured amounts. Inventory The Company calculates inventory utilizing the first-in, first-out method (FIFO) valued at at the individually identified cost per machine. If the estimated net realizable value is the estimated selling price in the ordinary course of business, and is lower than its cost, the inventory item is written down to its estimated net realizable value, which is valued at each reporting period. Provisions for inventory write-downs are included in cost of revenues in the consolidated statements of operations. Once written down, inventories are carried at this lower cost basis until sold or scrapped. Due to civil unrest and the devastation of Hurricane Nate in Nicaragua in October 2017, the Company wrote off the remaining two (2) machines that were held in inventory on December 31, 2017 in the amount of $9,000. At December 31, 2017 and 2016 there were -0- and 44 gaming machines in inventory valued at $-0- and $198,000, respectively. Earnings (Loss) per Share Earnings (loss) per share of common stock are computed in accordance with FASB ASC 260 “Earnings per Share”. Basic earnings (loss) per share are computed by dividing income or loss available to common shareholders by the weighted-average number of common shares outstanding for each period. Diluted earnings per share are calculated by adjusting the weighted average number of shares outstanding assuming conversion of all potentially dilutive stock options, warrants and convertible securities, if dilutive. Common stock equivalents that are anti-dilutive are excluded from both diluted weighted average number of common shares outstanding and diluted earnings (loss) per share. Stock Based Compensation The Company has issued and may issue stock in lieu of cash for certain transactions. The fair value of the stock, which is based on comparable cash purchases, third party fair values of shares or the value of services, whichever is more readily determinable, is used to value the transaction. Fair Value of Financial Instruments The estimated fair values for financial instruments are determined at discrete points in time based on relevant market information. These estimates involve uncertainties and cannot be determined with precision. The carrying amounts of accounts payable, accrued liabilities, and notes payable approximate fair value. We adopted ASC Topic 820 for financial instruments measured at fair value on a recurring basis. ASC Topic 820 defines fair value, establishes a framework for measuring fair value in accordance with accounting principles generally accepted in the United States and expands disclosures about fair value measurements. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. ASC Topic 820 establishes a three-tier fair value hierarchy which prioritizes the inputs used in measuring fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). These tiers include: Level 1, defined as observable inputs such as quoted prices for identical instruments in active markets; Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable such as quoted prices for similar instruments in active markets or quoted prices for identical or similar instruments in markets that are not active; and Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions, such as valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. The estimated fair values for financial instruments are determined at discrete points in time based on relevant market information. These estimates involve uncertainties and cannot be determined with precision. The carrying amounts of accounts receivable, inventory, notes payable, accounts payable, accrued liabilities approximate fair value given their short term nature or effective interest rates. We measure certain financial instruments at fair value on a recurring basis. Revenue Recognition The Company recognizes revenue from product sales or services rendered when the following four revenue recognition criteria are met: persuasive evidence of an arrangement exists, delivery has occurred or services have been rendered, the selling price is fixed or determinable, and collectability is reasonably assured. Gaming machine revenue is the net win from gaming machines which is the difference between gaming wins and losses. Revenue is recognized at month end when the gaming win/loss is calculated. This revenue is reported as machine income in the accompanying financial statements at December 31, 2017. Property and Equipment Property and equipment are recorded at cost. Depreciation is provided for on the straight-line method over the estimated useful lives of the assets. Computer equipment is depreciated on the straight-line method over five (5) years. Equipment used to generate revenues is depreciated on the straight-line method over seven (7) years and is included in cost of sales. Maintenance and repairs that neither materially add to the value of the property nor appreciably prolong its life are charged to expense as incurred. Betterments or renewals are capitalized when incurred. License Rights The license was being amortized using the straight-line method over its economic life, which was estimated to be fifteen (15) years. For the years ended December 31, 2017 and 2016, amortization expense was $-0- and $5,000, respectively. At December 31, 2016 the net value of the license rights of $295,000 were determined to be impaired. The rights were impaired due to the inability in Columbia, to be able to obtain gaming licenses. Impairment of Long-Lived Assets Management evaluates the Company’s long-lived assets, excluding goodwill, that consist of property, plant and equipment and intangible assets, for indicators of possible impairment when events or changes in circumstances indicate the carrying amount of an asset may not be recoverable. Impairment exists if the carrying amounts of such assets exceed the estimates of future net undiscounted cash flows expected to be generated by such assets. Should impairment exist, the impairment loss would be measured based on the excess carrying amount of the asset over the estimated fair value of the asset. Fair value is determined through various valuation techniques, including discounted cash flow models, quoted market values and third-party independent appraisers, as considered necessary. During the years ended December 31, 2017 and 2016, the Company recognized impairment of license rights in the amount of $-0- and $295,000, respectively. Reclassifications Certain prior period amounts in the accompanying consolidated financial statements have been reclassified to conform to the current year presentation. These reclassifications had no effect on previously reported consolidated financial statements. |
Recently Issued Accounting Stan
Recently Issued Accounting Standards | 12 Months Ended |
Dec. 31, 2017 | |
Recently Issued Accounting Standards | |
Recently Issued Accounting Standards | NOTE 3 – Recently Accounting Pronouncements The Company has implemented all new accounting pronouncements that are in effect and that may impact its 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. On January 1, 2018, the Company will adopt the new revenue recognition standard ASU 2014-09, “Revenue from Contracts with Customers (Topic 606)”, using the cumulative effect (modified retrospective) approach. Modified retrospective adoption requires entities to apply the standard retrospectively to the most current period presented in the financial statements, requiring the cumulative effect of the retrospective application as an adjustment to the opening balance of retained earnings at the date of initial application. No cumulative-effect adjustment in retained earnings will be recorded at adoption of ASU 2014-09 as adoption will not significantly impact the Company’s reported historical revenue. Revenue from substantially all of our contracts with customers continues to be recognized over time as services are rendered. The Company expects the impact of the adoption of the new standard to be immaterial to the Company’s consolidated financial statements and on an ongoing basis. |
Going Concern
Going Concern | 12 Months Ended |
Dec. 31, 2017 | |
GOING CONCERN [Abstract] | |
Going Concern | NOTE 4 – Going Concern The Company’s consolidated financial statements have been presented on the basis that it is a going concern, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The Company has reported recurring losses from operations. As a result, there is an accumulated deficit of at December 31, 2017. The Company has begun to generate income from its sales of inventory of gaming equipment and anticipates that this income may sufficiently support the ongoing operating expenses of the Company going forward. While the Company is attempting to continue operations and generate revenues, the Company’s cash position may not be significant enough to support the Company’s daily operations. Management intends to raise additional funds by way of a public or private offering. Management believes that the actions presently being taken to further implement the Company’s business plan and generate revenues provide the opportunity for the Company to continue as a going concern. While the Company believes in the viability of its strategy to generate revenues and in its ability to raise additional funds, there can be no assurances to that effect. The ability of the Company to continue as a going concern is dependent upon the Company’s ability to further implement its business plan and generate revenues. |
Accounts Receivable
Accounts Receivable | 12 Months Ended |
Dec. 31, 2017 | |
Notes To Financial Statements Abstract | |
Accounts Receivable | NOTE 5 – Accounts Receivable Accounts receivable consisted of the following at December 31, 2017 and 2016: December 31, 2017 2016 Accounts Receivable $ 42,312 $ — Less: Allowance for Doubtful Accounts (42,312 ) — Net Accounts Receivable $ — $ — Due to civil unrest and the devastation of Hurricane Nate in Nicaragua in October 2017, the Company wrote off the machine income that was in accounts receivable on December 31, 2017 in the amount of $42,312. There was no additional machine income recognized during the quarter ended December 31, 2017. The Allowance for Doubtful Accounts in the amount of $42,312 was collected but it remains in Nicaragua because of the political instability, social unrest, and US Government's trade and economic sanctions; no transfer of funds to the US can be done at this time. Since these issues have yet to be resolved both domestically and internationally with Nicaragua, the $42,312 amount has not been paid in the US and has been written-off. Since the revenue was earned and collected in Nicaragua, the revenue remains recognized as an account receivable. |
Notes Receivable - Related Part
Notes Receivable - Related Parties | 12 Months Ended |
Dec. 31, 2017 | |
Notes To Financial Statements Abstract | |
Notes Receivable - Related Parties | NOTE 6 – Notes Receivable – Related Parties Notes receivable related parties consisted of the following at December 31, 2017 and 2016: December 31, 2017 2016 Investcom – See Note 8 Related Party $ 342,000 $ — Rentcom – See Note 8 Related Party 76,000 — Total Notes Receivable 418,000 — Less: Allowance for Doubtful Accounts (418,000 ) –– Net Notes Receivable – Related Parties $ — $ –– Since no collections have been received on the above notes through the date of this report, the Company has allowed for these notes receivable in full at December 31, 2017. |
Property and Equipment
Property and Equipment | 12 Months Ended |
Dec. 31, 2017 | |
Property, Plant and Equipment [Abstract] | |
Property and Equipment | NOTE 7 – Property and Equipment Property and equipment consisted of the following at December 31, 2017 and 2016: December 31, 2017 2016 Furniture and Equipment $ 708 $ 708 Less: Accumulated Depreciation (298 ) (71 ) Net Property, Plant and Equipment $ 410 $ 637 For the years ended December 31, 2017 and 2016 depreciation expense was $227 and $71 respectively. During the year ended December 31, 2017 the Company owned 300 gaming machines valued at $3,618,000 that were considered property and equipment. During this period the Company expensed $258,325 in depreciation which is included in cost of sales. At December 31, 2017 these machines were returned to the vendor, due to civil unrest and the devastation of Hurricane Nate in Nicaragua in October 2017. |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2017 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | NOTE 8 – Related Party Transactions During the year ended December 31, 2017, one hundred ten (110) gaming machines were sold respectively, to a company controlled by Mr. Paul Parliament, the Company’s chief executive officer, for a total of $770,000. The above mentioned sales were financed by a notes receivable in the amount of $342,000. The notes receivable accrue interest at 8% and mature in December 2017. Due to the uncertainty of repayment, the notes receivable of $342,000 were allowed for as a bad debt at December 31, 2017. See Note 6. The above mentioned sales were also paid for by reducing Mr. Parliaments’ note payable from the Company in the amount of $76,000. During the year ended December 31, 2017 the Company sold 20 gaming machines to Richard A. Kaiser Sr., the parent of the Director, Richard Kaiser for $133,500. During the year ended December 31, 2017, seventy-five (75) gaming machines were sold to a company controlled by Mr. Doug Brooks, a director of the Company, or a total of $525,000. During the year ended December 31, 2017 the sales reduced the note payable to Mr. Brooks in the amount of $209,000 and a note receivable was established in the amount of $76,000 accruing interest at 8%, maturing in December 2017. Due to the uncertainty of repayment, the note receivable of $76,000 was allowed for as a bad debt at December 31, 2017. See Note 6. During the year ended December 31, 2017, GameTouch LLC, a company owned by a major stockholder of Bravo sold equipment and collected the receipts of those sales on behalf of the Company in the amount of $154,000 including the $70,000 sale to Mr. Doug Brooks listed above. GameTouch LLC also received from the Company commissions in the amount of $187,150 and $95,950 for the years ended December 31, 2017 and 2016, respectively, related to any sales consummated by them. GameTouch warrants that they will maintain all necessary licenses and that the purchaser of machines has a one-time option to return machines purchased within 24 months from the date of signed agreement purchase. During the year ended December 31, 2017 the Company purchased 200 gaming machines from Centro de Entretenimiento y Diversion Mombacho S.A., a company owned by a major stockholder of Bravo $900,000 which was to be paid 50% in cash as a note payable and 50% as common stock. 441,176 and 321,429 shares of common stock were issued in April and May 2017 respectively, to pay the $450,000 due in connection with the agreement. During the year ended December 31, 2016, ninety (90) gaming machines were sold to a company controlled by Mr. Paul Parliament, the Company’s chief executive officer, or a total of $630,000. The sale was paid for through a reduction in the amount of $342,000 to a note payable to Mr. Parliament. The Company also sold 5 gaming machines to Richard A. Kaiser Sr., the parent of the Director, Richard Kaiser for $34,250. During the year ended December 31, 2016 GameTouch LLC a company owned by a major stockholder of Bravo sold equipment and collected the receipts of those sales on behalf of the company in the amount of $741,845, including those sales to related parties listed above. GameTouch LLC also received from the Company commissions in the amount of $95,950 for the year ended December 31, 2016 related to any sales consummated by them. GameTouch warrants that they will maintain all necessary licenses and that the purchaser of machines has a one-time option to return machines purchased within 24 months from the date of signed agreement purchase. During the year ended December 31, 2016 the Company purchased 150 gaming machines from Centro de Entretenimiento y Diversion Mombacho S.A., a related party for $675,000. 50% is to be paid in cash as a note payable and 50% as common stock. 41,666 shares of common stock were issued during the year ended December 31, 2016 to pay the $337,500 due in connection with the agreement. Directors Loans consist of the following at December 31, 2017 and December 31, 2016: December 31, 2017 2016 Douglas Brooks – 8% Interest, Matures October 2018 $ 265,834 441,719 Richard Kaiser – 8% Interest, Matures October 2018 109,472 99,136 Paul Parliament – 8% Interest, Matures October 2018 408,595 786,573 Total Directors Loans $ 783,901 $ 1,327,428 Interest expense for the years ended December 31, 2017 and 2016 was $139,357 and $57,134 respectively. Due to Related Parties consist of payments of Company expenses by the Company’s three (3) directors and related party, Julios Kosta. Amounts due were $64,929 and $71,179 at December 31, 2017 and 2016, respectively. Notes payable - related party consists of amounts due to Julios Kosta, and Martin Wolfe, both major stockholders of the company and Marsadi Parliament, related to director Paul Parliament. Mr. Kosta’s loan accrues interest at 8% and matures in October 2018. Notes payable to Julios Kosta were $480,881 and $435,759 at December 31, 2017 and 2016, respectively. Mr. Wolfe’s loans both accrue interest at 8% and mature in October and May 2018, respectively. Notes payable to Martin Wolfe were $20,247 and $211,408 at December 31, 2017 and 2016, respectively. Ms. Parliament’s loan was $125,000 and $-0- at December 31, 2017 and 2016, respectively, accrues interest at 8% and matures in December 2019. The Company utilizes the services of Yes International Inc., which is controlled by Mr. Richard Kaiser who is a member of the Board of Directors. Yes International provides all services at no cost except for press release wire services. For the year ended December 31, 2017 and 2016 the company paid press release wire services in the amount of $2,560 and $-0-, respectively. |
Notes Payable
Notes Payable | 12 Months Ended |
Dec. 31, 2017 | |
Debt Disclosure [Abstract] | |
Notes Payable | NOTE 9 – Notes Payable Notes Payable consists of the following unsecured notes: December 31, 2017 2016 Al Yee – 7% Interest, Matures January 2017 $ 5,000 $ 5,000 Michael Walkil – Non Interest Bearing, Due on Demand 4,490 4,490 Isabell Pilon – 8% Interest, Matures December 2019 125,000 — Various Paid Debt — 5,584 Total Notes Payable $ 134,490 $ 15,074 |
Inventory Loan Payable - Relate
Inventory Loan Payable - Related Party | 12 Months Ended |
Dec. 31, 2017 | |
Equipment Loan Payable Abstract | |
Inventory Loan Payable - Related Party | NOTE 10– Inventory Loan Payable – Related Party Inventory loan payable is a non-interest bearing loan due to Centro de Entretenimiento y Diversion Mombacho S.A., a related party. Payment of $2,250 per gaming equipment sold is due immediately once the sale of gaming equipment is complete. Amount due at December 31, 2017 and 2016 was $4,500 and $99,000, respectively. |
Capital Stock
Capital Stock | 12 Months Ended |
Dec. 31, 2017 | |
Capital Stock | |
Capital Stock | NOTE 11– Capital Stock Preferred Stock On January 16, 2017, the Company amended its certificate of incorporation to authorize an increase in preferred shares to 50,000,000 from 5,000,000. Preferred stock can be converted into 10 shares of common stock and have voting rights equal to 100 shares of common stock. During the year ended December 31, 2017, 3,000,000 shares that were issued during the year ended December 31, 2015 and 2,000,000 shares that were issued during the year ended December 31, 2016 were returned by their respective shareholders. No compensation was given for the stock that was returned. Common Stock On January 16, 2017 the Articles of Incorporation were amended to increase the authorized shares to 1,050,000,000, consisting of 1,000,000,000 shares of common stock. Reverse Stock Split On January 16, 2017, the Company approved a one-for-three hundred (1:300) reverse stock split. This reverse stock split became effective as of the close of business on January 16, 2017. The reverse stock split had no effect on the par value of its common stock and did not reduce the number of authorized shares of common stock but reduced the number of issued and outstanding shares of common stock by the ratio. Accordingly, the issued and outstanding shares, stock options disclosures, net loss per share, and other per share disclosures for all periods presented have been retrospectively adjusted to reflect the impact of this reverse stock split. |
Commitments
Commitments | 12 Months Ended |
Dec. 31, 2017 | |
Commitments | |
Commitments | NOTE 12– Commitments and Contingencies The Company leases office space in Niagara-on-the-Lake, Ontario, Canada from a Canadian company owned by Paul Parliament, the Company’s chief executive officer. The original lease was from April 2015 through May 2017 at a rate of $1,884 per month. The lease has been extended through December 2017 at a reduced rate of $942. Rent expense for the year ended December 31, 2017 and 2016 was $11,304 and $22,608, respectively. |
Subsequent Events
Subsequent Events | 12 Months Ended |
Dec. 31, 2017 | |
Subsequent Events [Abstract] | |
Subsequent Events | NOTE 13 - Subsequent Events On March 15, 2018, the Company resolved to adopt the Employees, Officers, Directors and Consultants Stock Plan for the Year 2018. The purpose of this Plan is to enable the Company, to promote the interests of the company and its stockholders by attracting and retaining employees, officers, directors and consultants capable of furthering the future success of the Company and by aligning their economic interests more closely with those of the company’s stockholders, by paying their retainers or fees in the form of shares of the Company’s common stock. 6,000,000 shares of common stock are registered to this plan at an offering price of $0.155. The Plan shall expire on March 15, 2028. During the year ended December 31, 2018, 4,966,667 shares of common stock were issued by the Company. 4,516,667 restricted common shares were issued for services valued at $542,000 of which $399,500 was accrued at December 31, 2017 in the balance sheet as Accrued Board of Directors Fees. Additionally, 450,000 common shares were issued for a loan repayment valued at $45,000. No shares have been issued from January 1, 2019 through the date of this report. On November 27, 2018 the Company filed with the U.S. Securities and Exchange Commission a Schedule 14f-Notice of Change in the Majority of the Board of Directors. This filing occurred due to the fact that Mr. Paul Parliament and Mr. Douglas Brooks resigned on November 19, 2018 their positions as both officer and directors of the Company. Mr. Merle Ferguson became CEO, President and Chairman, and Mr. Richard Kaiser remains as Interim Chief Financial Officer, Secretary, Corporate Governance Officer, and Director. On December 10, 2018, the Company had a change in control when both Mr. Paul Parliament and Mr. Doug Brook sent written resignation letters November 19, 2018, whereas they resigned as officers and directors of the Company. Mr. Merle Ferguson became the CEO, President and Chairman of the Board, and Mr. Richard Kaiser remained as Acting CFO, Secretary, Treasurer and Director. On December 28, 2018, the Company signed a settlement agreement with Mr. Martin Wolfe in the amount of $19,500 to settle outstanding amounts owed to him. At December 31, 2017 the amount owed to Mr. Wolfe was $20,247 and included in notes payable related party - current. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2017 | |
Summary Of Significant Accounting Policies Policies | |
Principles of Consolidation | Principles of Consolidation The consolidated financial statements include the accounts of Bravo Multinational Incorporated, and its wholly owned subsidiary, Universal Entertainment SAS, Ltd., (the “Company”). All significant inter-company balances have been eliminated in consolidation. As of December 31, 2017, management recognized that Universal is an inactive Florida corporation which no longer operates. |
Method of Accounting | Method of Accounting The Company’s consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”). |
Use of Estimates | Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. |
Cash and Cash Equivalents | Cash and Cash Equivalents Cash and cash equivalents may include time deposits, certificates of deposit, and all highly liquid debt instruments with original maturities of three months or less. The Company maintains cash and cash equivalents at financial institutions located in the United States, which periodically may exceed federally insured amounts. |
Inventory | Inventory The Company calculates inventory utilizing the first-in, first-out method (FIFO) valued at at the individually identified cost per machine. If the estimated net realizable value is the estimated selling price in the ordinary course of business, and is lower than its cost, the inventory item is written down to its estimated net realizable value, which is valued at each reporting period. Provisions for inventory write-downs are included in cost of revenues in the consolidated statements of operations. Once written down, inventories are carried at this lower cost basis until sold or scrapped. Due to civil unrest and the devastation of Hurricane Nate in Nicaragua in October 2017, the Company wrote off the remaining two (2) machines that were held in inventory on December 31, 2017 in the amount of $9,000. At December 31, 2017 and 2016 there were -0- and 44 gaming machines in inventory valued at $-0- and $198,000, respectively. |
Earnings (Loss) per Share | Earnings (Loss) per Share Earnings (loss) per share of common stock are computed in accordance with FASB ASC 260 “Earnings per Share”. Basic earnings (loss) per share are computed by dividing income or loss available to common shareholders by the weighted-average number of common shares outstanding for each period. Diluted earnings per share are calculated by adjusting the weighted average number of shares outstanding assuming conversion of all potentially dilutive stock options, warrants and convertible securities, if dilutive. Common stock equivalents that are anti-dilutive are excluded from both diluted weighted average number of common shares outstanding and diluted earnings (loss) per share. |
Stock Based Compensation | Stock Based Compensation The Company has issued and may issue stock in lieu of cash for certain transactions. The fair value of the stock, which is based on comparable cash purchases, third party fair values of shares or the value of services, whichever is more readily determinable, is used to value the transaction. |
Fair Value of Financial Instruments | Fair Value of Financial Instruments The estimated fair values for financial instruments are determined at discrete points in time based on relevant market information. These estimates involve uncertainties and cannot be determined with precision. The carrying amounts of accounts payable, accrued liabilities, and notes payable approximate fair value. We adopted ASC Topic 820 for financial instruments measured at fair value on a recurring basis. ASC Topic 820 defines fair value, establishes a framework for measuring fair value in accordance with accounting principles generally accepted in the United States and expands disclosures about fair value measurements. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. ASC Topic 820 establishes a three-tier fair value hierarchy which prioritizes the inputs used in measuring fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). These tiers include: Level 1, defined as observable inputs such as quoted prices for identical instruments in active markets; Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable such as quoted prices for similar instruments in active markets or quoted prices for identical or similar instruments in markets that are not active; and Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions, such as valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. The estimated fair values for financial instruments are determined at discrete points in time based on relevant market information. These estimates involve uncertainties and cannot be determined with precision. The carrying amounts of accounts receivable, inventory, notes payable, accounts payable, accrued liabilities approximate fair value given their short term nature or effective interest rates. We measure certain financial instruments at fair value on a recurring basis. |
Revenue Recognition | Revenue Recognition The Company recognizes revenue from product sales or services rendered when the following four revenue recognition criteria are met: persuasive evidence of an arrangement exists, delivery has occurred or services have been rendered, the selling price is fixed or determinable, and collectability is reasonably assured. Gaming machine revenue is the net win from gaming machines which is the difference between gaming wins and losses. Revenue is recognized at month end when the gaming win/loss is calculated. This revenue is reported as machine income in the accompanying financial statements at December 31, 2017. |
Property and Equipment | Property and Equipment Property and equipment are recorded at cost. Depreciation is provided for on the straight-line method over the estimated useful lives of the assets. Computer equipment is depreciated on the straight-line method over five (5) years. Equipment used to generate revenues is depreciated on the straight-line method over seven (7) years and is included in cost of sales. Maintenance and repairs that neither materially add to the value of the property nor appreciably prolong its life are charged to expense as incurred. Betterments or renewals are capitalized when incurred. |
License Rights | License Rights The license was being amortized using the straight-line method over its economic life, which was estimated to be fifteen (15) years. For the years ended December 31, 2017 and 2016, amortization expense was $-0- and $5,000, respectively. At December 31, 2016 the net value of the license rights of $295,000 were determined to be impaired. The rights were impaired due to the inability in Columbia, to be able to obtain gaming licenses. |
Impairment of Long-Lived Assets | Impairment of Long-Lived Assets Management evaluates the Company’s long-lived assets, excluding goodwill, that consist of property, plant and equipment and intangible assets, for indicators of possible impairment when events or changes in circumstances indicate the carrying amount of an asset may not be recoverable. Impairment exists if the carrying amounts of such assets exceed the estimates of future net undiscounted cash flows expected to be generated by such assets. Should impairment exist, the impairment loss would be measured based on the excess carrying amount of the asset over the estimated fair value of the asset. Fair value is determined through various valuation techniques, including discounted cash flow models, quoted market values and third-party independent appraisers, as considered necessary. During the years ended December 31, 2017 and 2016, the Company recognized impairment of license rights in the amount of $-0- and $295,000, respectively. |
Reclassifications | Reclassifications Certain prior period amounts in the accompanying consolidated financial statements have been reclassified to conform to the current year presentation. These reclassifications had no effect on previously reported consolidated financial statements. |
Accounts Receivable (Tables)
Accounts Receivable (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes To Financial Statements Abstract | |
Schedule of Account Receivable | Accounts receivable consisted of the following at December 31, 2017 and 2016: December 31, 2017 2016 Accounts Receivable $ 42,312 $ — Less: Allowance for Doubtful Accounts (42,312 ) — Net Accounts Receivable $ — $ — |
Notes Receivable - Related Pa_2
Notes Receivable - Related Parties (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes To Financial Statements Abstract | |
Schedule of Notes Receivable - Related Party | Notes receivable related parties consisted of the following at December 31, 2017 and 2016: December 31, 2017 2016 Investcom – See Note 8 Related Party $ 342,000 $ — Rentcom – See Note 8 Related Party 76,000 — Total Notes Receivable 418,000 — Less: Allowance for Doubtful Accounts (418,000 ) –– Net Notes Receivable – Related Parties $ — $ –– |
Property and Equipment (Tables)
Property and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Property, Plant and Equipment [Abstract] | |
Schedule of Property and Equipment | Property and equipment consisted of the following at December 31, 2017 and 2016: December 31, 2017 2016 Furniture and Equipment $ 708 $ 708 Less: Accumulated Depreciation (298 ) (71 ) Net Property, Plant and Equipment $ 410 $ 637 |
Related Party Transactions (Tab
Related Party Transactions (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Fixed Assets Tables | |
Schedule of Related Party - Director Loans | Directors Loans consist of the following at December 31, 2017 and December 31, 2016: December 31, 2017 2016 Douglas Brooks – 8% Interest, Matures October 2018 $ 265,834 441,719 Richard Kaiser – 8% Interest, Matures October 2018 109,472 99,136 Paul Parliament – 8% Interest, Matures October 2018 408,595 786,573 Total Directors Loans $ 783,901 $ 1,327,428 |
Notes Payable (Tables)
Notes Payable (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Payable Tables | |
Unsecured notes | Notes Payable consists of the following unsecured notes: December 31, 2017 2016 Al Yee – 7% Interest, Matures January 2017 $ 5,000 $ 5,000 Michael Walkil – Non Interest Bearing, Due on Demand 4,490 4,490 Isabell Pilon – 8% Interest, Matures December 2019 125,000 — Various Paid Debt — 5,584 Total Notes Payable $ 134,490 $ 15,074 |
Organization & Description of_2
Organization & Description of Business (Details) - USD ($) | May 04, 2016 | Dec. 31, 2017 | Dec. 31, 2016 |
Business Acquisition [Line Items] | |||
Commissions | $ 187,150 | $ 95,950 | |
Centro de Entretenimiento y Diversion Mombacho S.A. [Member] | |||
Business Acquisition [Line Items] | |||
Debt instrument face amount | $ 337,500 | ||
Debt instrument interest rate percentage | 3.50% | ||
Common Stock [Member] | Centro de Entretenimiento y Diversion Mombacho S.A. [Member] | |||
Business Acquisition [Line Items] | |||
Issuance of common stock for purchase of gaming equipment, shares | 41,667 | ||
GameTouch LLC [Member] | |||
Business Acquisition [Line Items] | |||
Commissions | 95,950 | ||
Commision per machine | $ 950 |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Inventory | $ 198,000 | |
Amortization of License Rights | 15 years | |
Amortization expense | 5,000 | |
Impairment of Long-Lived Assets | $ 295,000 | |
Computer Equipment [Member] | ||
Property and Equipment useful life of Assets | 5 years | |
Equipment [Member] | ||
Property and Equipment useful life of Assets | 7 years |
Accounts Receivable (Details)
Accounts Receivable (Details) - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 |
Notes To Financial Statements Abstract | ||
Accounts Receivable | $ 42,312 | |
Less: Allowance for Doubtful Accounts | (42,312) | |
Net Accounts Receivable |
Notes Receivable - Related Pa_3
Notes Receivable - Related Parties (Details) - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 |
Total Notes Receivable | $ 418,000 | |
Less: Allowance for Doubtful Accounts | (418,000) | |
Net Notes Receivable - Related Parties | ||
Investcom [Member] | ||
Total Notes Receivable | 342,000 | |
Rentcom [Member] | ||
Total Notes Receivable | $ 76,000 |
Property and Equipment (Details
Property and Equipment (Details) - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 |
Property, Plant and Equipment [Abstract] | ||
Furniture and Equipment | $ 708 | $ 708 |
Less: Accumulated Depreciation | (298) | (71) |
Net Property, Plant and Equipment | $ 410 | $ 637 |
Related Party Transactions (Det
Related Party Transactions (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Directors Loan | $ 783,901 | $ 1,327,428 |
Douglas Brooks [Member] | ||
Directors Loan | $ 265,834 | 441,719 |
Accrued interest rate | 8.00% | |
Debt maturity date | Oct. 31, 2018 | |
Richard Kaiser [Member] | ||
Directors Loan | $ 109,472 | 99,136 |
Accrued interest rate | 8.00% | |
Debt maturity date | Oct. 31, 2018 | |
Paul Parliament [Member] | ||
Directors Loan | $ 408,595 | $ 786,573 |
Accrued interest rate | 8.00% | |
Debt maturity date | Oct. 31, 2018 |
Notes Payable (Details)
Notes Payable (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Total Notes Payable | $ 134,490 | $ 15,074 |
Interest Expense | 139,357 | 57,134 |
Al Yee [Member] | ||
Total Notes Payable | $ 5,000 | 5,000 |
Accrued interest rate | 7.00% | |
Debt maturity date | Jan. 31, 2017 | |
Isabell Pilon [Member] | ||
Total Notes Payable | $ 125,000 | |
Accrued interest rate | 8.00% | |
Debt maturity date | Dec. 31, 2019 | |
Michael Walkil [Member] | ||
Total Notes Payable | $ 4,490 | 4,490 |
Various Paid Debt [Member] | ||
Total Notes Payable | $ 5,584 |
Inventory Loan Payable - Rela_2
Inventory Loan Payable - Related Party (Details Narrative) - USD ($) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Loan payable | $ 4,500 | $ 99,000 |
Loans payable [Member] | Centro de Entretenimiento y Diversion Mombacho S.A. [Member] | ||
Repayment of debt | $ 2,250 |
Capital Stock (Details Narrativ
Capital Stock (Details Narrative) - shares | 12 Months Ended | ||
Dec. 31, 2017 | Jan. 16, 2017 | Dec. 31, 2016 | |
Stockholders' Equity Note [Abstract] | |||
Preferred stock, shares authorized | 50,000,000 | 50,000,000 | 50,000,000 |
Preferred stock voting rights description | Preferred stock can be converted into 10 share of common stock and have voting rights equal to 100 shares of common stock | ||
Reverse stock split | 1:300 | ||
Common Stock, Shares Authorized | 1,000,000,000 | 1,000,000,000 | 1,000,000,000 |
Commitments (Details Narrative)
Commitments (Details Narrative) - USD ($) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Rent Expense | $ 11,304 | $ 22,608 |
May 2017 through Dec 2017 [Member] | ||
Lease per month | 942 | |
April 2015 through May 2017 [Member] | ||
Lease per month | $ 1,884 |