Cover
Cover - USD ($) | 12 Months Ended | ||
Dec. 31, 2023 | Apr. 26, 2024 | Dec. 29, 2023 | |
Cover [Abstract] | |||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Annual Report | true | ||
Document Transition Report | false | ||
Document Period End Date | Dec. 31, 2023 | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2023 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity File Number | 000-56030 | ||
Entity Registrant Name | ENERGY AND WATER DEVELOPMENT CORP. | ||
Entity Central Index Key | 0001563298 | ||
Entity Tax Identification Number | 30-0781375 | ||
Entity Incorporation, State or Country Code | FL | ||
Entity Address, Address Line One | 7901 4th Street N | ||
Entity Address, Address Line Two | STE #4174 | ||
Entity Address, City or Town | St Petersburg | ||
Entity Address, State or Province | FL | ||
Entity Address, Postal Zip Code | 33702 | ||
City Area Code | 727 | ||
Local Phone Number | 677-9408 | ||
Title of 12(g) Security | Common Stock, $.001 par value per share | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Interactive Data Current | Yes | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Small Business | true | ||
Entity Emerging Growth Company | true | ||
Elected Not To Use the Extended Transition Period | false | ||
Entity Shell Company | false | ||
Entity Public Float | $ 7,310,080 | ||
Entity Common Stock, Shares Outstanding | 277,695,682 | ||
Document Financial Statement Error Correction [Flag] | false | ||
ICFR Auditor Attestation Flag | false | ||
Auditor Firm ID | 5854 | ||
Auditor Name | TAAD LLP | ||
Auditor Location | Diamond Bar, California |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Dec. 31, 2023 | Dec. 31, 2022 |
CURRENT ASSETS: | ||
Cash | $ 76,627 | $ 40,886 |
Accounts receivable | 0 | 52,761 |
Inventory | 451,986 | 457,646 |
Prepaid expenses and other current assets | 379,490 | 315,222 |
TOTAL CURRENT ASSETS | 908,103 | 866,515 |
Property and equipment, net | 229,363 | 245,667 |
Operating lease right-of-use asset | 287,334 | 62,113 |
TOTAL ASSETS | 1,424,800 | 1,174,295 |
CURRENT LIABILITIES: | ||
Accounts payable and accrued expenses | 978,468 | 1,023,563 |
Accounts payable - related party | 16,900 | 27,029 |
Convertible loan payables, net of discount | 152,459 | 73,664 |
Due to officers | 285,267 | 222,492 |
Derivative liability | 376,941 | 184,025 |
Current portion of operating lease liability | 153,803 | 62,113 |
Current portion of financing lease liability | 16,045 | 14,327 |
TOTAL CURRENT LIABILITIES | 1,979,883 | 1,607,213 |
Financing lease liability, net of current portion | 34,570 | 48,946 |
Operating lease liability, net of current portion | 133,531 | 0 |
TOTAL LIABILITIES | 2,147,984 | 1,656,159 |
COMMITMENTS AND CONTINGENCIES | ||
STOCKHOLDERS' DEFICIT: | ||
Preferred stock, par value $.001 per share; 500,000,000 shares authorized, 9,780,976 shares issued and outstanding at both December 31, 2023 and December 31, 2022 | 9,781 | 9,781 |
Common stock, par value $.001 per share; 1,000,000,000 shares authorized, 268,040,179 and 182,934,483 shares issued and outstanding in December 31, 2023 and December 31, 2022, respectively | 268,039 | 182,934 |
Additional paid in capital | 26,776,442 | 23,678,396 |
Accumulated deficit | (27,771,291) | (24,337,973) |
Accumulated other comprehensive loss | (6,155) | (15,002) |
TOTAL STOCKHOLDERS' DEFICIT | (723,184) | (481,864) |
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT | $ 1,424,800 | $ 1,174,295 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - $ / shares | Dec. 31, 2023 | Dec. 31, 2022 |
Statement of Financial Position [Abstract] | ||
Preferred stock, par value | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized | 500,000,000 | 500,000,000 |
Preferred stock, share issued | 9,780,976 | 9,780,976 |
Preferred stock, shares outstanding | 9,780,976 | 9,780,976 |
Common stock, par value | $ 0.001 | $ 0.001 |
Common stock, shares authorized | 1,000,000,000 | 1,000,000,000 |
Common stock, shares issued | 268,040,179 | 182,934,483 |
Common stock, shares outstanding | 268,040,179 | 182,934,483 |
Consolidated Statements of Oper
Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($) | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
REVENUE | ||
Revenue | $ 0 | $ 0 |
TOTAL REVENUE | 0 | 0 |
COST OF EQUIPMENT SOLD | ||
Cost of equipment sold | 0 | 0 |
TOTAL COST OF EQUIPMENT SOLD | 0 | 0 |
GROSS PROFIT | 0 | 0 |
GENERAL and ADMINISTRATIVE EXPENSES | ||
Professional fees | 958,809 | 494,926 |
Officers’ salaries and payroll taxes | 546,678 | 479,933 |
Marketing fees | 41,401 | 226,975 |
Travel and entertainment | 78,128 | 42,696 |
Other general and administrative expenses | 1,016,708 | 666,358 |
TOTAL GENERAL and ADMINISTRATIVE EXPENSES | 2,641,724 | 1,910,888 |
LOSS FROM OPERATIONS | (2,641,724) | (1,910,888) |
OTHER INCOME (EXPENSE) | ||
Change in fair value of derivative | (395,556) | 234,654 |
Other expense | 19,725 | (93,732) |
Loss on settlement of liabilities | (200,358) | 0 |
Interest expense | (215,405) | (172,614) |
TOTAL OTHER INCOME (EXPENSE) | (791,594) | (31,692) |
LOSS BEFORE TAXES | (3,433,318) | (1,942,580) |
TAXES | 0 | 0 |
NET LOSS | (3,433,318) | (1,942,580) |
OTHER COMPREHENSIVE INCOME (LOSS) | ||
Foreign currency translation adjustments | 8,847 | 27,442 |
TOTAL OTHER COMPREHENSIVE INCOME (LOSS) | 8,847 | 27,442 |
COMPREHENSIVE LOSS | $ (3,424,471) | $ (1,915,138) |
Loss per common share - Basic | $ (0.02) | $ (0.01) |
Loss per common share - Diluted | $ (0.02) | $ (0.01) |
Weighted average number of common shares outstanding - Basic | 215,064,242 | 169,341,781 |
Weighted average number of common shares outstanding - Diluted | 215,064,242 | 169,341,781 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Stockholders' Deficit - USD ($) | Preferred Stock [Member] | Common Stock [Member] | Common Stock Subscriptions [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total |
Beginning balance, value at Dec. 31, 2021 | $ 9,781 | $ 143,840 | $ 792,745 | $ 20,777,401 | $ (22,395,393) | $ (42,444) | $ (714,070) |
Beginning balance, shares at Dec. 31, 2021 | 9,780,976 | 143,840,643 | 15,855,000 | ||||
Subscriptions liability reclassification to subscriptions | $ 377,350 | 377,350 | |||||
Subscriptions liability reclassification to subscriptions, shares | 7,547,000 | ||||||
Sale of Common Stock | $ 36,444 | $ (1,170,095) | 2,385,652 | 1,252,001 | |||
Sale of Common Stock, shares | 36,443,736 | (23,402,000) | |||||
Common stock issued for commitment fee | $ 500 | 79,500 | 80,000 | ||||
Common stock issued for commitment fee, shares | 500,000 | ||||||
Common stock issued for services | $ 1,574 | 266,525 | 268,099 | ||||
Common stock issued for services, shares | 1,574,546 | ||||||
Common stock issued to satisfy convertible debt | $ 541 | 49,459 | 50,000 | ||||
Common stock issued to satisfy convertible debt, shares | 540,716 | ||||||
Stock issued for interest and fees | $ 35 | 3,187 | 3,222 | ||||
Stock issued for interest and fees, shares | 34,842 | ||||||
Imputed interest on related party loans | 6,165 | 6,165 | |||||
Derivative settled upon conversion of debt | 110,507 | 110,507 | |||||
Net loss | (1,942,580) | (1,942,580) | |||||
Other comprehensive loss | 27,442 | 27,442 | |||||
Ending balance, value at Dec. 31, 2022 | $ 9,781 | $ 182,934 | 23,678,396 | (24,337,973) | (15,002) | (481,864) | |
Ending balance, shares at Dec. 31, 2022 | 9,780,976 | 182,934,483 | |||||
Sale of Common Stock | $ 67,491 | 2,248,809 | 2,316,300 | ||||
Sale of Common Stock, shares | 67,490,988 | ||||||
Common stock issued for services | $ 516 | 18,600 | 19,116 | ||||
Common stock issued for services, shares | 516,255 | ||||||
Common stock issued to satisfy convertible debt | $ 9,682 | 191,046 | 200,728 | ||||
Common stock issued to satisfy convertible debt, shares | 9,682,321 | ||||||
Common stock issued to officers for accrued salary | $ 6,953 | 361,531 | 368,484 | ||||
Common stock issued to officers for accrued salary, shares | 6,952,523 | ||||||
Stock issued for interest and fees | $ 730 | 12,242 | 12,972 | ||||
Stock issued for interest and fees, shares | 730,243 | ||||||
Return of shares in settlement of litigation | $ (267) | (10,372) | (10,639) | ||||
Return of shares in settlement of litigation, shares | (266,634) | ||||||
Imputed interest on related party loans | 14,748 | 14,748 | |||||
Derivative settled upon conversion of debt | 261,442 | 261,442 | |||||
Net loss | (3,433,318) | (3,433,318) | |||||
Other comprehensive loss | 8,847 | 8,847 | |||||
Ending balance, value at Dec. 31, 2023 | $ 9,781 | $ 268,039 | $ 26,776,442 | $ (27,771,291) | $ (6,155) | $ (723,184) | |
Ending balance, shares at Dec. 31, 2023 | 9,780,976 | 268,040,179 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net loss | $ (3,433,318) | $ (1,942,580) |
Reconciliation of net loss to net cash used in operating activities | ||
Common stock issued for commitment fee | 0 | 80,000 |
Amortization of debt discount and deferred financing costs | 208,053 | 93,986 |
Depreciation and amortization | 95,554 | 18,252 |
Non-cash lease expense | 43,942 | 0 |
Change in fair value of derivative liability and derivative expense | 395,556 | (234,654) |
Loan on partial extinguishment of convertible debt | (22,728) | 0 |
Common stock issued for services | 19,116 | 268,099 |
Return of shares in settlement of litigation | (10,639) | 0 |
Imputed interest on amounts owed to related parties | 14,748 | 6,165 |
Bad debt expense | 52,761 | 0 |
Loss on settlement | 200,358 | 0 |
Foreign currency loss | 12,758 | 76,737 |
Changes in operating assets and liabilities: | ||
Accounts receivable, net | 0 | 2,260 |
Inventory | 5,660 | (273,274) |
Prepaid expenses and other current assets | (64,268) | 90,524 |
Accounts payable and accrued expenses and deferred taxes | 90,748 | 92,924 |
Due to related party | 0 | (97,341) |
Operating lease liabilities, current and non-current | (43,942) | 0 |
Due to officers | 97,901 | 199,986 |
CASH USED IN OPERATING ACTIVITIES | (2,337,741) | (1,618,916) |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Purchase of property and equipment | (39,949) | (196,018) |
NET CASH USED IN INVESTING ACTIVITIES | (39,949) | (196,018) |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Proceeds on convertible loans payable | 153,000 | 178,000 |
Repayments of convertible loans payable | 0 | (150,000) |
Proceeds from sale of stock | 2,316,300 | 1,252,001 |
Payments of finance lease liabilities | (51,959) | 0 |
CASH PROVIDED BY FINANCING ACTIVITIES | 2,417,341 | 1,280,001 |
Effect of exchange rate changes on cash | (3,911) | (13,849) |
Net change in cash | 35,741 | (548,782) |
Cash, beginning of period | 40,886 | 589,668 |
Cash, end of period | 76,627 | 40,886 |
SUPPLEMENTAL CASH FLOW INFORMATION: | ||
Cash paid for interest | 5,788 | 67,940 |
Cash paid for taxes | 0 | 0 |
NON-CASH INVESTING AND FINANCING ACTIVITIES: | ||
Common shares issued for interest and fees | 12,972 | 3,222 |
Reclassification of common stock subscriptions to common stock | 0 | 1,170,095 |
Common shares issued for conversion of loans payable | 200,728 | 50,000 |
Derivative liability discount | 81,530 | 175,026 |
Derivative settled upon conversion of debt | 261,442 | 110,507 |
Reclassification of equity to liability for derivatives | 0 | 377,350 |
Additions of finance lease obligations | $ 119,089 | $ 64,417 |
Pay vs Performance Disclosure
Pay vs Performance Disclosure - USD ($) | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Pay vs Performance Disclosure [Table] | ||
Net Income (Loss) Attributable to Parent | $ (3,433,318) | $ (1,942,580) |
Insider Trading Arrangements
Insider Trading Arrangements | 3 Months Ended |
Dec. 31, 2023 | |
Insider Trading Arrangements [Line Items] | |
Rule 10b5-1 Arrangement Adopted | false |
Non-Rule 10b5-1 Arrangement Adopted | false |
Rule 10b5-1 Arrangement Terminated | false |
Non-Rule 10b5-1 Arrangement Terminated | false |
Incorporation and Nature of Ope
Incorporation and Nature of Operations | 12 Months Ended |
Dec. 31, 2023 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Incorporation and Nature of Operations | Note 1. Incorporation and Nature of Operations Energy and Water Development Corp. (the “Company” or “EAWD”) was originally incorporated as a Delaware corporation named Wealthhound.com, Inc. in 2000 and was converted to a Florida corporation under the name Eagle International Holdings Group Inc. on December 14, 2007. On March 10, 2008, the Company changed its name to Eurosport Active World Corporation and on March 17, 2008, the Company entered into an Agreement and Plan of Acquisition (the “Acquisition Agreement”) with Inko Sport America, LLC (“ISA”), a privately-held Florida limited liability company wherein all of the certified owners of ISA exchanged their ownership interests in ISA for shares of the Company. In connection with the closing of the Acquisition In September 2019, the Company changed its name to Energy and Water Development Corp. to more accurately reflect the Company’s purpose and business sector. The Company has registered its logo “EAWD” with the United States Patent and Trademark Office, the European Union Intellectual Property Office and the World Intellectual Property Organization (WIPO) to secure its corporate identity. In order to effectively cater to its expanding operations within one of the EU’s most environmentally advanced nations, the Company has strategically established a branch for business operations in Germany, along with two wholly-owned German subsidiaries: Energy and Water Development Deutschland GmbH (“EAWD Deutschland”) and EAWD Logistik GmbH (“EAWD Logistik”). Moreover, recognizing the importance of regional market demands, the Company has also extended its presence to Mexico through a wholly-owned subsidiary called EAWD Mexico SAPI de CV, enhancing its capacity to address the needs of this area efficiently. This strategic positioning not only reflects the Company's commitment to environmental progress but also ensures an optimized response to evolving market requirements. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2023 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | Note 2. Summary of Significant Accounting Policies Principles of Consolidation and Basis of Presentation The consolidated financial statements include the accounts of EAWD. All intercompany transactions and balances have been eliminated in consolidation. The consolidated financial statements include the accounts of Energy and Water Development Corp. and Subsidiary and have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules of the Securities and Exchange Commission. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and the results of operations for the periods presented have been reflected herein. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and the results of operations for the interim periods presented have been reflected herein. The results of operations for the interim periods are not necessarily indicative of the results to be expected for the full year. Notes to the financial statements that would substantially duplicate the disclosures contained in the audited financial statements of Energy and Water Development Corp. for the fiscal year ended December 31, 2023, have been omitted. Foreign currency translation The United States dollar (“USD”) is the Company’s reporting currency. The Company has a subsidiary located in Germany. The net sales generated, and the related expenses directly incurred from the operations, if any, are denominated in local currency, Euro (“Euro”). The functional currency of the subsidiary is generally the same as the local currency. Assets and liabilities measured in Euros are translated into USD at the prevailing exchange rates in effect as of the financial statement date and the related gains and losses, net of applicable deferred income taxes, are reflected in accumulated other comprehensive loss in its balance sheets. Income and expense accounts are translated at the average exchange rate for the period. The Company has not, to the date of these consolidated financial statements, entered into derivative instruments to offset the impact of foreign currency fluctuations. During the year ended December 31, 2023 the Company used a spot rate of 1.10 and an average rate of 1.08 when converting EURO to USD. Use of Estimates The preparation of financial statements in accordance with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting periods. Actual results could differ from those estimates. Estimates which are particularly significant to the financial statements include estimates relating to the determination of impairment of assets, assessment of going concern, the determination of the fair value of stock-based compensation, and the recoverability of deferred income tax assets. Leases Effective January 1, 2019, the Company adopted ASC 842- Leases (“ASC 842”). The lease standard provided a number of optional practical expedients in transition. The Company elected the package of practical expedients. As such, the Company did not have to reassess whether expired or existing contracts are or contain a lease; did not have to reassess the lease classifications or reassess the initial direct costs associated with expired or existing leases. The lease standard also provides practical expedients for an entity’s ongoing accounting. The Company elected the short-term lease recognition exemption under which the Company will not recognize right-of-use (“ROU”) assets or lease liabilities, and this includes not recognizing ROU assets or lease liabilities for existing short-term leases. The Company elected the practical expedient to not separate lease and non-lease components for certain classes of assets (facilities). At the inception of an arrangement, the Company determines whether the arrangement is or contains a lease based on the unique facts and circumstances present in the arrangement. Leases with a term greater than one year are recognized on the balance sheet as right-of-use assets and short-term and long-term lease liabilities, as applicable. The Company does not have operating or financing leases. Cash The Company considers short-term interest-bearing investments with initial maturities of three months or less to be cash equivalents. The Company has $ 76,627 40,886 Inventory Inventory is stated at the lower of cost or net realizable value using the first in, first out (FIFO) method. A reserve is established if necessary to reduce excess or obsolete inventories to their net realizable value. Prepaid Expenses and Other Current Assets Prepaid expenses and other current assets include purchase deposits, miscellaneous prepaid expenses, value added tax receivable, and a security deposit. Property and Equipment Property and equipment is stated at cost, less accumulated depreciation. Depreciation is recognized over an asset’s estimated useful life using the straight-line method beginning on the date an asset is placed in service. The Company regularly evaluates the estimated remaining useful lives of the Company’s property and equipment to determine whether events or changes in circumstances warrant a revision to the remaining period of depreciation. Maintenance and repairs are charged to expense as incurred. Estimated useful lives of the Company’s Property and Equipment are as follows: Schedule of estimated useful lives Useful Life (in years) Office equipment 5 Furniture and fixtures 7 Automobile 5 Machinery and equipment 5 Deferred Financing Costs The Company has recorded deferred financing costs as a result of fees incurred by the Company in conjunction with its debt financing activities. These costs are amortized to interest expense using the straight-line method which approximates the interest rate method over the term of the related debt. There were no 6,663 which was netted against the related debt. Fair Value of Financial Instruments 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 a measurement date. A fair value hierarchy requires an entity to maximize the use of observable inputs, where available, and minimize the use of unobservable inputs when measuring fair value. Described below are the three levels of inputs that may be used to measure fair value: Level 1 – Quoted prices in active markets that are accessible at the measurement date for identical assets or liabilities, Level 2 – Observable prices that are based on inputs not quoted on active markets, but corroborated by market data, Level 3 – Unobservable inputs are used when little or no market data is available. The application of the three levels of the fair value hierarchy under ASC Topic 820-10-35, our derivative liabilities as of December 31, 2023 and December 31, 2022, were $ 376,941 184,025 Certain assets and liabilities are required to be recorded at fair value on a recurring basis. The Company adjusts derivative financial instruments to fair value on a recurring basis. The fair value for other assets and liabilities such as cash, accounts receivable, prepaid expenses and other current assets, and accounts payable and accrued expenses have been determined to approximate carrying amounts due to the short maturities of these instruments. The Company believes that its indebtedness approximates fair value based on current yields for debt instruments with similar terms. Income Taxes Income taxes are accounted for under the asset and liability method as stipulated by ASC 740, “Accounting for Income Taxes”. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Under ASC 740, the effect on deferred tax assets and liabilities or a change in tax rate is recognized in income in the period that includes the enactment date. Deferred tax assets are reduced to estimated amounts to be realized by the use of the valuation allowance. A valuation allowance is applied when in management’s view it is more likely than not (50%) that such deferred tax will not be utilized. ASC 740 provides interpretative guidance for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. In the unlikely event that an uncertain tax position exists in which the Corporation could incur income taxes, the Corporation would evaluate whether there is a probability that the uncertain tax position taken would be sustained upon examination by the taxing authorities. A liability for uncertain tax positions would then be recorded if the Corporation determined it is more likely than not that a position would not be sustained upon examination or if a payment would have to be made to a taxing authority and the amount is reasonably estimable. As of December 31, 2023 and 2022, the Corporation does not believe any uncertain tax positions exist that would result in the Corporation having a liability to the taxing authorities. The Corporation’s policy is to classify interest and penalties related to unrecognized tax benefits, if and when required, as part of interest expense and general and administrative expense, respectively, in the statement of operations. The Corporation’s tax returns for the years ended 2012 through 2022 have been filed and are subject to examination by the federal and state tax authorities. The Corporation’s tax returns for the tax year ended 2023 have not been filed. Revenue Recognition The Company recognizes revenue in accordance with ASC 606, Revenue from Contracts with Customers To achieve this core principle, five basic criteria must be met before revenue can be recognized: (1) identify the contract with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to performance obligations in the contract; and (5) recognize revenue when or as the Company satisfies a performance obligation. During the years ended December 31, 2023 and 2022, the Company did not recognize any revenue. Loss Per Common Share The Corporation accounts for earnings (loss) per share in accordance with FASB ASC Topic No. 260 - 10 , “Earnings Per Share”, As discussed more fully in Note 10, convertible note holders have the option of converting their loans into common shares subject to the terms and features offered by the specific convertible notes. Some note holders were also granted purchase options to purchase additional shares subject to the features of each purchase option. If the convertible note holders of unexercised convertible notes exercised their conversion feature and the additional purchase options, they would represent 0 8,317,828 Related Party Transactions A transaction is considered to be a related party transaction when there is a transfer of resources or obligations between related parties. A related party is generally defined as: (i) any person that holds 5% or more of the Company’s securities including such person’s immediate families, (ii) the Company’s management, (iii) someone that directly or indirectly controls, is controlled by or is under common control with the Company, or (iv) anyone who can significantly influence the financial and operating decisions of the Company. |
Recently Issued Accounting Stan
Recently Issued Accounting Standards | 12 Months Ended |
Dec. 31, 2023 | |
Accounting Changes and Error Corrections [Abstract] | |
Recently Issued Accounting Standards | Note 3. Recently Issued Accounting Standards Accounting standards promulgated by the FASB are subject to change. Changes in such standards may have an impact on the Corporation’s future financial statements. The following are a summary of recent accounting developments. In June 2016, the FASB issued ASU 2016-13, Financial Instruments – Credit Losses to improve information on credit losses for financial assets and net investment in leases that are not accounted for at fair value through net income. ASU 2016-13 replaces the current incurred loss impairment methodology with a methodology that reflects expected credit losses. In April 2019 and May 2019, the FASB issued ASU No. 2019-04, “Codification Improvements to Topic 326, Financial Instruments-Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments” and ASU No. 2019-05, “Financial Instruments-Credit Losses (Topic 326): Targeted Transition Relief” which provided additional implementation guidance on the previously issued ASU. In November 2019, the FASB issued ASU 2019-10, “Financial Instruments - Credit Loss (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842),” which defers the effective date for public filers that are considered small reporting companies (“SRC”) as defined by the Securities and Exchange Commission to fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. Since the Company is an SRC, implementation is not needed until January 1, 2023. The Company adopted ASU 2016-13 on January 1, 2023. The adoption did not have a material impact on the Company’s consolidated financial statements. |
Going Concern
Going Concern | 12 Months Ended |
Dec. 31, 2023 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Going Concern | Note 4. Going Concern The Company has incurred operating losses since it began operations (December 2012) totaling $ 27,771,291 3,433,318 1,071,780 The Company’s ability to transition to profitable operations is dependent upon achieving a level of revenues adequate to support its cost structure. The timing and amount of our actual expenditures will be based on many factors, including cash flows from operations and the anticipated growth of our business and availability to sufficient resources. Management expects sales operations to continue to expand. If necessary, the Company will need to raise additional funds during 2024. Management of the Company intends to raise additional funds through the issuance of equity securities or debt, credit lines or advances from suppliers. The ability of the Company to continue as a going concern depends upon its ability to generate sales or obtain additional funding to finance operating losses until the Corporation is profitable. These factors raise substantial doubt about the Company’s ability to continue as a going concern. The accompanying condensed consolidated financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern. |
Accounts Receivable
Accounts Receivable | 12 Months Ended |
Dec. 31, 2023 | |
Credit Loss [Abstract] | |
Accounts Receivable | Note 5. Accounts Receivable At December 31, 2023 and 2022, accounts receivable was $ 0 and $ 52,761 , respectively. EAWC-TV has an unpaid balance on the equipment of $ 52,761 , which represents the majority of the balance of the Company’s outstanding accounts receivable as of December 31, 2022. Ralph Hofmeier owns 5% of the issued and outstanding stock of EAWC-TV and, other than the right to vote on issues presented to stockholders, he has no control over the management or operations of the company. The Company came into agreement with EAWC TV and wrote off the unpaid balance of $ 52,761 during the year ended December 31, 2023. |
Inventory
Inventory | 12 Months Ended |
Dec. 31, 2023 | |
Inventory Disclosure [Abstract] | |
Inventory | Note 6. Inventory The components of inventory at December 31, 2023 and 2022, consisted of the following: Schedule of inventory December 31, December 31, 2023 2022 Work in progress $ 451,986 $ 457,646 Inventory, net $ 451,986 $ 457,646 Work In Progress only reflects the value of products in intermediate production stages and excludes the value of finished products being held as inventory in anticipation of future sales and raw materials not yet incorporated into an item for sale. Consisting of materials used for EAWD water generator, commercial solar panels supply, and materials used for construction of a charging station. |
Prepaid Expenses and Other Curr
Prepaid Expenses and Other Current Assets | 12 Months Ended |
Dec. 31, 2023 | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | |
Prepaid Expenses and Other Current Assets | Note 7. Prepaid Expenses and Other Current Assets The components of prepaid expenses and other current assets at December 31, 2023 and 2022, consisted of the following: Schedule of prepaid expenses and other current assets December 31, 2023 December 31, 2022 Prepayment on inventory not received $ 1,467 $ — Miscellaneous prepaid expenses 116,740 140,676 Value added tax receivable 227,433 158,200 Security deposit 33,850 16,346 Prepaid expenses and other current assets $ 379,490 $ 315,222 |
Property and Equipment, Net
Property and Equipment, Net | 12 Months Ended |
Dec. 31, 2023 | |
Property, Plant and Equipment [Abstract] | |
Property and Equipment, Net | Note 8. Property and Equipment, Net The components of property and equipment at December 31, 2023 and 2022, consisted of the following: Schedule of property and equipment December 31, December 31, 2023 2022 Office equipment $ 14,077 $ 5,911 Furniture and fixtures 2,531 2,447 Financing lease equipment 66,614 64,417 Machinery and equipment 105,003 41,656 Automobile 153,804 149,787 Property and equipment, gross 342,029 264,218 Less: Accumulated depreciation (112,666 ) (18,551 ) Property and equipment, net $ 229,363 $ 245,667 Depreciation expense for the year ended December 31, 2023 and 2022 was $ 95,554 18,252 |
Accounts Payable and Accrued Ex
Accounts Payable and Accrued Expenses | 12 Months Ended |
Dec. 31, 2023 | |
Payables and Accruals [Abstract] | |
Accounts Payable and Accrued Expenses | Note 9. Accounts Payable and Accrued Expenses Significant components of accounts payable and accrued expenses at December 31, 2023 and 2022 are as follows: Schedule of accounts payable and accrued expenses December 31, 2023 December 31, 2022 Accrued expenses $ 361,738 $ 241,960 Accounts payable 269,806 297,725 Accounts payable – related party 16,900 27,029 Accrued legal costs 345,729 349,726 Accrued salary and payroll taxes 1,195 134,152 Total $ 995,368 $ 1,050,592 As of December 31, 2023 and 2022, the Company owed Virhtech Gmbh, a related party of the Company, $ 16,900 27,029 |
Convertible Loans Payable
Convertible Loans Payable | 12 Months Ended |
Dec. 31, 2023 | |
Debt Disclosure [Abstract] | |
Convertible Loans Payable | Note 10. Convertible Loans Payable As of December 31, 2023, the Company had convertible 193,000 40,541 152,459 As of December 31, 2022, the Company has convertible loans payable balance of $ 218,000 144,336 73,664 During the year ended December 31, 2023, the Company issued one convertible loan in the aggregate amount of $ 153,000 8 81,530 During the year ended December 31, 2022, the Company issued one convertible loan in the aggregate amount of $ 178,000 8 175,025 The convertible loans were issued in several different forms as discussed below. Schedule of convertible loans Amount Balance of notes payable, net on December 31, 2021 $ 176,703 Issuances of debt 178,000 Cash settlement of debt (150,000 ) Debt discount (175,025 ) Conversions (50,000 ) Amortization of debt discount 93,986 Balance of notes payable, net on December 31, 2022 $ 73,664 Issuances of debt 153,000 Cash settlement of debt — Debt discount (256,555 ) Conversions (33,663 ) Amortization of debt discount 216,013 Balance of notes payable, net on December 31, 2023 $ 152,459 Derivative Liabilities The Company issued debts that consist of the issuance of convertible notes with variable conversion provisions. The conversion terms of the convertible notes are variable based on certain factors, such as the future price of the Company’s common stock. The number of shares of common stock to be issued is based on the future price of the Company’s common stock. The number of shares of common stock issuable upon conversion of the promissory note is indeterminate. Due to the fact that the number of shares of common stock issuable could exceed the Company’s authorized share limit, the equity environment is tainted, and all additional convertible debentures and warrants are included in the value of the derivative liabilities. Pursuant to ASC 815-15 Embedded Derivatives, the fair values of the variable conversion options and warrants and shares to be issued were recorded as derivative liabilities on the issuance date and revalued at each reporting period. Based on the various convertible notes described above, the fair value of applicable derivative liabilities on notes and change in fair value of derivative liability are as follows as of December 31, 2023 and 2022: Schedule of fair value of derivative liability Total Balance as of December 31, 2021 $ 354,160 Change Due to Issuances 175,026 Change due to exercise / redemptions (110,507 ) Change in fair value (234,654 ) Balance as of December 31, 2022 $ 184,025 Change Due to Issuances 81,530 Change due to exercise / redemptions (261,442 ) Change in fair value 372,828 Balance as of December 31, 2023 $ 376,941 A summary of quantitative information with respect to valuation methodology and significant unobservable inputs used for the Company’s common stock purchase that are categorized within Level 3 of the fair value hierarchy for the years ended December 31, 2023 and 2022 is as follows: Schedule of quantitative information December 31, 2023 December 31, 2022 Stock price $ 0.02 0.12 $ 0.04 0.19 Exercise price $ 0.02 0.03 $ 0.02 0.10 Contractual term (in years) 0.49 1.00 0.68 1.00 Volatility (annual) 184 219 140 1,313 Risk-free rate 4.64 5.56 0.51 4.73 The foregoing assumptions are reviewed quarterly and are subject to change based primarily on management’s assessment of the probability of the events described occurring. Accordingly, changes to these assessments could materially affect the valuations. Financial Liabilities Measured at Fair Value on a Recurring Basis Financial liabilities measured at fair value on a recurring basis are summarized below and disclosed on the balance sheet under Derivative liability and derivative liabilities: Schedule of financial liabilities measured at fair value Fair value measured at December 31, 2023 Quoted Significant prices in other Significant active observable inputs unobservable Fair value (Level 1) (Level 2) (Level 3) 2023 Derivative liability $ — $ — $ 376,941 $ 376,941 Total $ — $ — $ 376,941 $ 376,941 Fair Value measured at December 31, 2022 Quoted Significant prices in other Significant active observable unobservable Fair value at (Level 1) (Level 2) (Level 3) 2022 Derivative liability $ — $ — $ 184,025 $ 184,025 Total $ — $ — $ 184,025 $ 184,025 The fair value accounting standards define fair value as the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is determined based upon assumptions that market participants would use in pricing an asset or liability. Fair value measurements are rated on a three-tier hierarchy as follows: · Level 1 inputs: Quoted prices (unadjusted) for identical assets or liabilities in active markets; · Level 2 inputs: Inputs, other than quoted prices included in Level 1, that are observable either directly or indirectly; and · Level 3 inputs: Unobservable inputs for which there is little or no market data, which require the reporting entity to develop its own assumptions. There were no transfers between Level 1, 2 or 3 during the years ended December 31, 2023 and 2022. During the years ended December 31, 2023 and 2022, the Company recorded a loss of $ 395,556 234,654 |
Leases
Leases | 12 Months Ended |
Dec. 31, 2023 | |
Leases [Abstract] | |
Leases | Note 11. Leases Financing leases The Company has entered into a finance lease agreement for heavy machinery. The Company’s financing lease does not provide an implicit rate that can be readily determined. Therefore, the Company uses discount rates based on the incremental borrowing rate of its most recent external debt of 8 The Company’s remaining lease term relating to its financing lease is 2.92 8.00 The Company incurred amortization expense for its financing lease of $ 19,078 1,299 19,078 1,522 66,613 64,416 16,045 14,327 34,570 48,946 Operating leases In October 2023, the Company entered into a facility lease agreement with an unrelated party for an office and warehouse space located in Bargteheide, Germany. The monthly rental payments due, inclusive of taxes, are $ 15,356 2 September 30, 2025 741 3 October 2026 The Company’s operating leases do not provide an implicit rate that can be readily determined. Therefore, the Company uses discount rates based on the incremental borrowing rate of its most recent external debt of 8 The Company’s weighted-average remaining lease term relating to its operating leases is 1.84 8.00 The Company incurred lease expense for its operating leases of $ 106,079 47,612 106,079 47,612 287,334 62,113 153,803 62,113 133,531 0 The following table presents information about the future maturity of the lease liabilities under the Company’s operating and financing leases as of December 31, 2023. Schedule of operating and financing leases Maturity of Lease Liabilities Operating lease liabilities Finance lease liability Total Amount 2024 $ 171,074 $ 19,515 $ 190,589 2025 130,759 19,515 150,275 2026 8,179 17,889 26,068 2027 — — — Total future minimum lease payments 310,013 56,918 366,931 Less: Imputed interest (22,678 ) (6,302 ) (28,981 ) Present value of lease liabilities $ 287,334 $ 50,616 $ 337,950 Remaining lease term (in years) 1.84 2.92 |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2023 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | Note 12. Related Party Transactions Due to officers Amounts due to officers as of December 31, 2023 and 2022 are comprised of the following: Schedule of amounts due to officers December 31, December 31, 2023 2022 Ralph Hofmeier: Unsecured advances due to officer $ 2,253 $ 56,400 Accrued salaries 148,985 86,265 Total due to Ralph Hofmeier 151,238 142,665 Irma Velazquez: Unsecured advances due to officer 7,341 10,393 Accrued salaries 126,688 69,434 Total due to Irma Velazquez 134,029 79,827 Total amounts due to officers $ 285,267 $ 222,492 Unsecured advances due to officers represent unreimbursed Corporation expenses paid by the officers on behalf of the Corporation. These advances are non-interest bearing and are due on demand. Officer Compensation Accrued salaries represent amounts accrued in accordance with the employment agreements for Mr. Hofmeier, the Company’s Chief Technology Officer and Chairman of the Board, and Ms. Velazquez, the Company’s Chief Executive Officer and Vice-Chairman of the Board. Mr. Hofmeier and Ms. Velazquez are also significant stockholders. Customer deposit EAWC-TV functions as a distributor of EAWD product. In 2019, EAWC-TV, having secured EAWD’s first customer, has placed a $ 550,000 303,742 The Company and EAWC-TV agreed as it had done in 2019, to clear the outstanding balances in the D/T/F EAWC-TV and the outstanding balance it carried in its accounts payable account for administrative services, which it did on December 26, 2020 which resulted in an additional down payment of $ 193,497 52,761 0 52,761 Virhtech Gmbh As of December 31, 2023 and 2022, the Company owed Virhtech Gmbh, a related party of the Company, $ 16,900 27,029 Officer and investor deposits On January 18, 2023, the Company issued 6,952,523 168,126 As of March 31, 2023, the Company received deposits in the amount of $ 310,700 13,674,000 |
Shareholders_ Deficit
Shareholders’ Deficit | 12 Months Ended |
Dec. 31, 2023 | |
Equity [Abstract] | |
Shareholders’ Deficit | Note 13. Shareholders’ Deficit Preferred Stock Authorized: 500,000,000 .001 9,780,976 Common Stock Authorized: 1,000,000,000 .001 268,040,179 182,934,483 During the year ended December 31, 2023, the Company engaged in the following equity events: Sale of Common Stock and Subscriptions From January 1, 2023 through March 31, 2023, the Company issued 375,000 37,500 From January 1, 2023 through March 31, 2023, the Company sold 13,674,000 310,700 From April 1, 2023 through June 30, 2023, the Company sold 8,940,000 194,300 2,550,000 6,420,000 From July 1, 2023 through September 30, 2023, the Company sold 23,791,000 807,800 2,750,000 21,041,000 In October and November 2023, the Company sold 15,400,000 770,000 Shares issued pursuant to ELOC On January 26, 2022 the Company entered into a two-year equity line of credit (“ELOC”) with an investor to provide up to $ 5 In the first quarter of 2023, the Company issued an additional 5,310,988 196,000 Shares issued upon conversion of convertible debt In the second quarter of 2023, the holder of our convertible debt elected to convert $ 93,000 4,142 1,400 4,753,178 In the third quarter of 2023, the holder of our convertible debt elected to convert $ 35,000 1,948 900 2,162,770 In the fourth quarter of 2023, the holder of our convertible debt elected to convert $ 50,000 3,682 900 3,496,616 Return of shares in settlement litigation EAWD vs Packard and Co-Defendant Nick Norwood – Case number 18-031011 CA-01 Miami-Dade County Circuit Court. The Company is demanding the proof of payment for shares issued in 2008. The parties have entered into a settlement agreement whereby the Company agreed to pay the defendants $ 120,000 266,634 Shares issued for accrued salary On January 18, 2023, the Company issued an aggregate 6,250,000 0.02 196,159 On January 18, 2023, the Company issued an aggregate 702,523 0.05 2,109 Shares issued for services On October 6, 2023, the Company issued 56,975 5,000 On November 11, 2023, the Company issued 459,279 15,000 During the year ended December 31, 2022, the Company engaged in the following equity events: · 36,443,736 36,444 · 500,000 500 · 1,574,546 1,574 · 540,716 541 · 34,842 35 |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2023 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Note 14. Commitments and Contingencies Commitments Equity Line of Credit The Company entered into a two-year Equity Line of Credit pursuant to an Equity Purchase Agreement with Tysadco Partners, LLC, dated January 26, 2022. Pursuant to the agreement, Tysadco Partners agreed to invest up to $ 5,000,000 Requests are limited to the lesser of $1,000,000 or 500% of the average shares traded for the 10 days prior the Closing Request Date. The purchase price shall be 85% of the two lowest individual daily VWAP during the five (5) trading days immediately prior to the date the Request Notice is delivered (in each case, to be appropriately adjusted for any reorganization, recapitalization, non-cash dividend, stock split or other similar transaction that occurs on or after the date of this Agreement). In addition, the Company and Tysadco Partners entered into a Registration Rights Agreement, whereby the Company shall register the securities on a registration statement covering the Offering Amount with the Securities and Exchange Commission (“SEC”) within forty-five days of filing its 10-K for the year ended December 31, 2021. The Company’s Registration Statement on Form S-1 registering 25,000,000 shares in connection with the ELOC was declared effective on July 5, 2022. Employment Agreements The Company entered into employment agreements with its Chief Executive Officer, Mr. Ralph Hofmeier, and its Chief Operating Officer, Ms. Irma Velazquez (collectively the “Employment Agreements”), effective January 1, 2012. Under the Employment Agreements, the Corporation will pay each of Mr. Hofmeier and Ms. Velazquez an annual base salary of $ 125,000 150,000 Effective as of August 4, 2022, Mr. Ralph M. Hofmeier has resigned as Chief Executive Officer and President of Energy and Water Development Corp. (the “Company”), and has been appointed as Chief Technology Officer of the Company. Mr. Hofmeier’s resignation is not a result of any disagreement with the Company or its independent auditors on any matter relating to the Company’s accounting, strategy, management, operations, policies, regulatory matters, or practices (financial or otherwise). Effective as of August 4, 2022, Ms. Irma Velazquez has resigned as Chief Operating Officer of the Company, and has been appointed as Chief Executive Officer of the Company. Ms. Velazquez’s resignation is not a result of any disagreement with the Company or its independent auditors on any matter relating to the Company’s accounting, strategy, management, operations, policies, regulatory matters, or practices (financial or otherwise). On August 4, 2022, per a board of directors’ resolution, the Company entered into 210,305 29,164 Leases Our registered office is located at 7901 4th Street N STE #4174, St. Petersburg, Florida 33702. Our telephone number is +1 (727) 677-9408. Office services are contracted for on a month-to-month basis in this Address. Our operations in Germany are located at the office address otto-Hahn-Strasse 8 – 22941 Bargteheide, Germany. Our Telephone number is +49 45 3299 19500. The Company signed a lease agreement for two years effective in October 2023. Our office in Mexico is located in SM6 M1 L1 Piso 5 Corporativo Malecon Americas Sm6aF Cancun Quintana Roo. Cp. 77503, Mexico. Office services are contracted for on a month-to-month basis in this Address. Contingencies From time to time, the Corporation may be a defendant in pending or threatened legal proceedings arising in the normal course of its business. While the outcome and impact of currently pending legal proceedings cannot be predicted with certainty, the Corporation’s management and legal counsel believe that the resolution of these proceedings through settlement or adverse judgment will not have a material adverse effect on its operating results, financial position or cash flows. Litigation EAWD vs Nerve Smart Systems ApS (“Nerve”) |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2023 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Note 15. Income Taxes The Company maintains deferred tax assets and liabilities that reflect the net tax effects of temporary differences between carrying amounts of the assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. The net deferred tax asset has been fully offset by a valuation allowance because of the uncertainty of the attainment of future taxable income. The Company did not have an income tax provision or benefit for the years ended December 31, 2023 and 2022. The Company has incurred losses and therefore has provided a full valuation against net deferred tax assets as of December 31, 2023 and 2022. The items accounting for the difference between U.S. and foreign income taxes at the effective statutory rate and the provision for income taxes for the years ended December 31, 2023 and 2022 were as follows: Schedule of provision for income taxes December 31, December 31, 2023 2022 Income tax benefit at U.S. statutory rate of 21% Net operating loss – U.S. – federal $ (720,896 ) $ (169,906 ) State income tax net of Federal benefits – U.S. (63,401 ) (35,154 ) Non-deductible expenses – U.S. 165,611 54,953 Net operating loss - foreign (2,438 ) (249,864 ) Temporary differences — (762,687 ) Change in valuation allowance – U.S. 377,280 912,794 Change in valuation allowance – foreign 243,844 249,864 Total provision for income tax – U.S. and foreign $ — $ — The Company’s approximate net U.S. and foreign deferred tax assets as of December 31, 2023 and 2022 were as follows: Schedule of deferred tax assets December 31, December 31, 2023 2022 Deferred tax assets Book to tax difference – fixed assets $ 402,131 $ 506,826 Stock based compensation 583 — Right of use asset (72,825 ) — Operating lease liability 72,825 — Net operating loss carry forward – U.S. 3,278,131 2,796,738 Net operating loss carry forward – foreign 572,887 329,043 Total deferred tax assets – U.S. and foreign 4,253,732 3,632,607 Valuation allowance – U.S. and foreign (4,253,732 ) (3,632,607 ) Net deferred tax assets $ — $ — Net operating loss carry-forwards for U.S. federal and state in the amount of approximately 13 and for foreign of 2.6 will expire beginning December 31, 2033. The net change in the valuation allowance for the years ended December 31, 2023 and 2022 was an increase of $ 377,280 and $ 912,794 243,844 and $ 249,864 The Company subject to U.S. federal income tax as well as income tax in multiple state and non-U.S. jurisdictions. The Company’s federal and state tax returns for the previous three years remain open for audit. With respect to material non-U.S. jurisdictions in which we operate, we have open tax years ranging from 2 to 10 years. |
Subsequent Events
Subsequent Events | 12 Months Ended |
Dec. 31, 2023 | |
Subsequent Events [Abstract] | |
Subsequent Events | Note 16. Subsequent Events Since January 12, 2024, the date the Company filed its Quarterly Report on Form 10-Q for the quarter ended September 31, 2023, the Company has engaged in the following equity events: On January 17, 2024, the Company issued 7,913,836 75,000 3,238 900 On February 5, 2024, the Company issued 700,000 15,000 On February 7, 2024, the Company issued 1,041,667 25,000 On February 15, 2024, the Company entered into a convertible note agreement with Geebis Consulting LLC, in which the Company received $ 150,000 8 On March 25, 2024, the Company issued 1,400,000 600,000 70,000 30,000 On March 7, 2024, the Company entered into a convertible note agreement with 1800 Diagonal Lending LLC, in which the Company received $ 126,000 12 |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2023 | |
Accounting Policies [Abstract] | |
Principles of Consolidation and Basis of Presentation | Principles of Consolidation and Basis of Presentation The consolidated financial statements include the accounts of EAWD. All intercompany transactions and balances have been eliminated in consolidation. The consolidated financial statements include the accounts of Energy and Water Development Corp. and Subsidiary and have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules of the Securities and Exchange Commission. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and the results of operations for the periods presented have been reflected herein. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and the results of operations for the interim periods presented have been reflected herein. The results of operations for the interim periods are not necessarily indicative of the results to be expected for the full year. Notes to the financial statements that would substantially duplicate the disclosures contained in the audited financial statements of Energy and Water Development Corp. for the fiscal year ended December 31, 2023, have been omitted. |
Foreign currency translation | Foreign currency translation The United States dollar (“USD”) is the Company’s reporting currency. The Company has a subsidiary located in Germany. The net sales generated, and the related expenses directly incurred from the operations, if any, are denominated in local currency, Euro (“Euro”). The functional currency of the subsidiary is generally the same as the local currency. Assets and liabilities measured in Euros are translated into USD at the prevailing exchange rates in effect as of the financial statement date and the related gains and losses, net of applicable deferred income taxes, are reflected in accumulated other comprehensive loss in its balance sheets. Income and expense accounts are translated at the average exchange rate for the period. The Company has not, to the date of these consolidated financial statements, entered into derivative instruments to offset the impact of foreign currency fluctuations. During the year ended December 31, 2023 the Company used a spot rate of 1.10 and an average rate of 1.08 when converting EURO to USD. |
Use of Estimates | Use of Estimates The preparation of financial statements in accordance with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting periods. Actual results could differ from those estimates. Estimates which are particularly significant to the financial statements include estimates relating to the determination of impairment of assets, assessment of going concern, the determination of the fair value of stock-based compensation, and the recoverability of deferred income tax assets. |
Leases | Leases Effective January 1, 2019, the Company adopted ASC 842- Leases (“ASC 842”). The lease standard provided a number of optional practical expedients in transition. The Company elected the package of practical expedients. As such, the Company did not have to reassess whether expired or existing contracts are or contain a lease; did not have to reassess the lease classifications or reassess the initial direct costs associated with expired or existing leases. The lease standard also provides practical expedients for an entity’s ongoing accounting. The Company elected the short-term lease recognition exemption under which the Company will not recognize right-of-use (“ROU”) assets or lease liabilities, and this includes not recognizing ROU assets or lease liabilities for existing short-term leases. The Company elected the practical expedient to not separate lease and non-lease components for certain classes of assets (facilities). At the inception of an arrangement, the Company determines whether the arrangement is or contains a lease based on the unique facts and circumstances present in the arrangement. Leases with a term greater than one year are recognized on the balance sheet as right-of-use assets and short-term and long-term lease liabilities, as applicable. The Company does not have operating or financing leases. |
Cash | Cash The Company considers short-term interest-bearing investments with initial maturities of three months or less to be cash equivalents. The Company has $ 76,627 40,886 |
Inventory | Inventory Inventory is stated at the lower of cost or net realizable value using the first in, first out (FIFO) method. A reserve is established if necessary to reduce excess or obsolete inventories to their net realizable value. |
Prepaid Expenses and Other Current Assets | Prepaid Expenses and Other Current Assets Prepaid expenses and other current assets include purchase deposits, miscellaneous prepaid expenses, value added tax receivable, and a security deposit. |
Property and Equipment | Property and Equipment Property and equipment is stated at cost, less accumulated depreciation. Depreciation is recognized over an asset’s estimated useful life using the straight-line method beginning on the date an asset is placed in service. The Company regularly evaluates the estimated remaining useful lives of the Company’s property and equipment to determine whether events or changes in circumstances warrant a revision to the remaining period of depreciation. Maintenance and repairs are charged to expense as incurred. Estimated useful lives of the Company’s Property and Equipment are as follows: Schedule of estimated useful lives Useful Life (in years) Office equipment 5 Furniture and fixtures 7 Automobile 5 Machinery and equipment 5 |
Deferred Financing Costs | Deferred Financing Costs The Company has recorded deferred financing costs as a result of fees incurred by the Company in conjunction with its debt financing activities. These costs are amortized to interest expense using the straight-line method which approximates the interest rate method over the term of the related debt. There were no 6,663 which was netted against the related debt. |
Fair Value of Financial Instruments | Fair Value of Financial Instruments 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 a measurement date. A fair value hierarchy requires an entity to maximize the use of observable inputs, where available, and minimize the use of unobservable inputs when measuring fair value. Described below are the three levels of inputs that may be used to measure fair value: Level 1 – Quoted prices in active markets that are accessible at the measurement date for identical assets or liabilities, Level 2 – Observable prices that are based on inputs not quoted on active markets, but corroborated by market data, Level 3 – Unobservable inputs are used when little or no market data is available. The application of the three levels of the fair value hierarchy under ASC Topic 820-10-35, our derivative liabilities as of December 31, 2023 and December 31, 2022, were $ 376,941 184,025 Certain assets and liabilities are required to be recorded at fair value on a recurring basis. The Company adjusts derivative financial instruments to fair value on a recurring basis. The fair value for other assets and liabilities such as cash, accounts receivable, prepaid expenses and other current assets, and accounts payable and accrued expenses have been determined to approximate carrying amounts due to the short maturities of these instruments. The Company believes that its indebtedness approximates fair value based on current yields for debt instruments with similar terms. |
Income Taxes | Income Taxes Income taxes are accounted for under the asset and liability method as stipulated by ASC 740, “Accounting for Income Taxes”. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Under ASC 740, the effect on deferred tax assets and liabilities or a change in tax rate is recognized in income in the period that includes the enactment date. Deferred tax assets are reduced to estimated amounts to be realized by the use of the valuation allowance. A valuation allowance is applied when in management’s view it is more likely than not (50%) that such deferred tax will not be utilized. ASC 740 provides interpretative guidance for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. In the unlikely event that an uncertain tax position exists in which the Corporation could incur income taxes, the Corporation would evaluate whether there is a probability that the uncertain tax position taken would be sustained upon examination by the taxing authorities. A liability for uncertain tax positions would then be recorded if the Corporation determined it is more likely than not that a position would not be sustained upon examination or if a payment would have to be made to a taxing authority and the amount is reasonably estimable. As of December 31, 2023 and 2022, the Corporation does not believe any uncertain tax positions exist that would result in the Corporation having a liability to the taxing authorities. The Corporation’s policy is to classify interest and penalties related to unrecognized tax benefits, if and when required, as part of interest expense and general and administrative expense, respectively, in the statement of operations. The Corporation’s tax returns for the years ended 2012 through 2022 have been filed and are subject to examination by the federal and state tax authorities. The Corporation’s tax returns for the tax year ended 2023 have not been filed. |
Revenue Recognition | Revenue Recognition The Company recognizes revenue in accordance with ASC 606, Revenue from Contracts with Customers To achieve this core principle, five basic criteria must be met before revenue can be recognized: (1) identify the contract with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to performance obligations in the contract; and (5) recognize revenue when or as the Company satisfies a performance obligation. During the years ended December 31, 2023 and 2022, the Company did not recognize any revenue. |
Loss Per Common Share | Loss Per Common Share The Corporation accounts for earnings (loss) per share in accordance with FASB ASC Topic No. 260 - 10 , “Earnings Per Share”, As discussed more fully in Note 10, convertible note holders have the option of converting their loans into common shares subject to the terms and features offered by the specific convertible notes. Some note holders were also granted purchase options to purchase additional shares subject to the features of each purchase option. If the convertible note holders of unexercised convertible notes exercised their conversion feature and the additional purchase options, they would represent 0 8,317,828 |
Related Party Transactions | Related Party Transactions A transaction is considered to be a related party transaction when there is a transfer of resources or obligations between related parties. A related party is generally defined as: (i) any person that holds 5% or more of the Company’s securities including such person’s immediate families, (ii) the Company’s management, (iii) someone that directly or indirectly controls, is controlled by or is under common control with the Company, or (iv) anyone who can significantly influence the financial and operating decisions of the Company. |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Accounting Policies [Abstract] | |
Schedule of estimated useful lives | Schedule of estimated useful lives Useful Life (in years) Office equipment 5 Furniture and fixtures 7 Automobile 5 Machinery and equipment 5 |
Inventory (Tables)
Inventory (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Inventory Disclosure [Abstract] | |
Schedule of inventory | Schedule of inventory December 31, December 31, 2023 2022 Work in progress $ 451,986 $ 457,646 Inventory, net $ 451,986 $ 457,646 |
Prepaid Expenses and Other Cu_2
Prepaid Expenses and Other Current Assets (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | |
Schedule of prepaid expenses and other current assets | Schedule of prepaid expenses and other current assets December 31, 2023 December 31, 2022 Prepayment on inventory not received $ 1,467 $ — Miscellaneous prepaid expenses 116,740 140,676 Value added tax receivable 227,433 158,200 Security deposit 33,850 16,346 Prepaid expenses and other current assets $ 379,490 $ 315,222 |
Property and Equipment, Net (Ta
Property and Equipment, Net (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Property, Plant and Equipment [Abstract] | |
Schedule of property and equipment | Schedule of property and equipment December 31, December 31, 2023 2022 Office equipment $ 14,077 $ 5,911 Furniture and fixtures 2,531 2,447 Financing lease equipment 66,614 64,417 Machinery and equipment 105,003 41,656 Automobile 153,804 149,787 Property and equipment, gross 342,029 264,218 Less: Accumulated depreciation (112,666 ) (18,551 ) Property and equipment, net $ 229,363 $ 245,667 |
Accounts Payable and Accrued _2
Accounts Payable and Accrued Expenses (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Payables and Accruals [Abstract] | |
Schedule of accounts payable and accrued expenses | Schedule of accounts payable and accrued expenses December 31, 2023 December 31, 2022 Accrued expenses $ 361,738 $ 241,960 Accounts payable 269,806 297,725 Accounts payable – related party 16,900 27,029 Accrued legal costs 345,729 349,726 Accrued salary and payroll taxes 1,195 134,152 Total $ 995,368 $ 1,050,592 |
Convertible Loans Payable (Tabl
Convertible Loans Payable (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Debt Disclosure [Abstract] | |
Schedule of convertible loans | Schedule of convertible loans Amount Balance of notes payable, net on December 31, 2021 $ 176,703 Issuances of debt 178,000 Cash settlement of debt (150,000 ) Debt discount (175,025 ) Conversions (50,000 ) Amortization of debt discount 93,986 Balance of notes payable, net on December 31, 2022 $ 73,664 Issuances of debt 153,000 Cash settlement of debt — Debt discount (256,555 ) Conversions (33,663 ) Amortization of debt discount 216,013 Balance of notes payable, net on December 31, 2023 $ 152,459 |
Schedule of fair value of derivative liability | Schedule of fair value of derivative liability Total Balance as of December 31, 2021 $ 354,160 Change Due to Issuances 175,026 Change due to exercise / redemptions (110,507 ) Change in fair value (234,654 ) Balance as of December 31, 2022 $ 184,025 Change Due to Issuances 81,530 Change due to exercise / redemptions (261,442 ) Change in fair value 372,828 Balance as of December 31, 2023 $ 376,941 |
Schedule of quantitative information | Schedule of quantitative information December 31, 2023 December 31, 2022 Stock price $ 0.02 0.12 $ 0.04 0.19 Exercise price $ 0.02 0.03 $ 0.02 0.10 Contractual term (in years) 0.49 1.00 0.68 1.00 Volatility (annual) 184 219 140 1,313 Risk-free rate 4.64 5.56 0.51 4.73 |
Schedule of financial liabilities measured at fair value | Schedule of financial liabilities measured at fair value Fair value measured at December 31, 2023 Quoted Significant prices in other Significant active observable inputs unobservable Fair value (Level 1) (Level 2) (Level 3) 2023 Derivative liability $ — $ — $ 376,941 $ 376,941 Total $ — $ — $ 376,941 $ 376,941 Fair Value measured at December 31, 2022 Quoted Significant prices in other Significant active observable unobservable Fair value at (Level 1) (Level 2) (Level 3) 2022 Derivative liability $ — $ — $ 184,025 $ 184,025 Total $ — $ — $ 184,025 $ 184,025 |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Leases [Abstract] | |
Schedule of operating and financing leases | Schedule of operating and financing leases Maturity of Lease Liabilities Operating lease liabilities Finance lease liability Total Amount 2024 $ 171,074 $ 19,515 $ 190,589 2025 130,759 19,515 150,275 2026 8,179 17,889 26,068 2027 — — — Total future minimum lease payments 310,013 56,918 366,931 Less: Imputed interest (22,678 ) (6,302 ) (28,981 ) Present value of lease liabilities $ 287,334 $ 50,616 $ 337,950 Remaining lease term (in years) 1.84 2.92 |
Related Party Transactions (Tab
Related Party Transactions (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Related Party Transactions [Abstract] | |
Schedule of amounts due to officers | Schedule of amounts due to officers December 31, December 31, 2023 2022 Ralph Hofmeier: Unsecured advances due to officer $ 2,253 $ 56,400 Accrued salaries 148,985 86,265 Total due to Ralph Hofmeier 151,238 142,665 Irma Velazquez: Unsecured advances due to officer 7,341 10,393 Accrued salaries 126,688 69,434 Total due to Irma Velazquez 134,029 79,827 Total amounts due to officers $ 285,267 $ 222,492 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Income Tax Disclosure [Abstract] | |
Schedule of provision for income taxes | Schedule of provision for income taxes December 31, December 31, 2023 2022 Income tax benefit at U.S. statutory rate of 21% Net operating loss – U.S. – federal $ (720,896 ) $ (169,906 ) State income tax net of Federal benefits – U.S. (63,401 ) (35,154 ) Non-deductible expenses – U.S. 165,611 54,953 Net operating loss - foreign (2,438 ) (249,864 ) Temporary differences — (762,687 ) Change in valuation allowance – U.S. 377,280 912,794 Change in valuation allowance – foreign 243,844 249,864 Total provision for income tax – U.S. and foreign $ — $ — |
Schedule of deferred tax assets | Schedule of deferred tax assets December 31, December 31, 2023 2022 Deferred tax assets Book to tax difference – fixed assets $ 402,131 $ 506,826 Stock based compensation 583 — Right of use asset (72,825 ) — Operating lease liability 72,825 — Net operating loss carry forward – U.S. 3,278,131 2,796,738 Net operating loss carry forward – foreign 572,887 329,043 Total deferred tax assets – U.S. and foreign 4,253,732 3,632,607 Valuation allowance – U.S. and foreign (4,253,732 ) (3,632,607 ) Net deferred tax assets $ — $ — |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies (Details) | Dec. 31, 2023 |
Office Equipment [Member] | |
Property, Plant and Equipment [Line Items] | |
Estimated useful life | 5 years |
Furniture and Fixtures [Member] | |
Property, Plant and Equipment [Line Items] | |
Estimated useful life | 7 years |
Automobiles [Member] | |
Property, Plant and Equipment [Line Items] | |
Estimated useful life | 5 years |
Machinery and Equipment [Member] | |
Property, Plant and Equipment [Line Items] | |
Estimated useful life | 5 years |
Summary of Significant Accoun_5
Summary of Significant Accounting Policies (Details Narrative) - USD ($) | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 |
Platform Operator, Crypto-Asset [Line Items] | |||
Cash and cash equivalents | $ 76,627 | $ 40,886 | |
Unamortized deferred financing costs | 0 | 6,663 | |
Derivative liability | $ 376,941 | $ 184,025 | $ 354,160 |
Additional common shares | 0 | 8,317,828 | |
Fair Value, Inputs, Level 1, Level 2, and Level 3 [Member] | |||
Platform Operator, Crypto-Asset [Line Items] | |||
Derivative liability | $ 376,941 | $ 184,025 |
Going Concern (Details Narrativ
Going Concern (Details Narrative) - USD ($) | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||
Operating losses | $ 2,641,724 | $ 1,910,888 |
Net loss | 3,433,318 | $ 1,942,580 |
Working capital deficit | 1,071,780 | |
December 2012 [Member] | ||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||
Operating losses | $ 27,771,291 |
Accounts Receivable (Details Na
Accounts Receivable (Details Narrative) - USD ($) | 12 Months Ended | ||
Dec. 31, 2023 | Sep. 01, 2023 | Dec. 31, 2022 | |
Credit Loss [Abstract] | |||
Accounts receivable | $ 0 | $ 52,761 | |
Unpaid balance on equipment | $ 52,761 | $ 52,761 | |
Wrote off unpaid balance | $ 52,761 |
Inventory (Details)
Inventory (Details) - USD ($) | Dec. 31, 2023 | Dec. 31, 2022 |
Inventory Disclosure [Abstract] | ||
Work in progress | $ 451,986 | $ 457,646 |
Inventory, net | $ 451,986 | $ 457,646 |
Prepaid Expenses and Other Cu_3
Prepaid Expenses and Other Current Assets (Details) - USD ($) | Dec. 31, 2023 | Dec. 31, 2022 |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | ||
Prepayment on inventory not received | $ 1,467 | $ 0 |
Miscellaneous prepaid expenses | 116,740 | 140,676 |
Value added tax receivable | 227,433 | 158,200 |
Security deposit | 33,850 | 16,346 |
Prepaid expenses and other current assets | $ 379,490 | $ 315,222 |
Property and Equipment, Net (De
Property and Equipment, Net (Details) - USD ($) | Dec. 31, 2023 | Dec. 31, 2022 |
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | $ 342,029 | $ 264,218 |
Less: Accumulated depreciation | (112,666) | (18,551) |
Property and equipment, net | 229,363 | 245,667 |
Office Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | 14,077 | 5,911 |
Furniture and Fixtures [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | 2,531 | 2,447 |
Financing Lease Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | 66,614 | 64,417 |
Machinery and Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | 105,003 | 41,656 |
Automobiles [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | $ 153,804 | $ 149,787 |
Property and Equipment, Net (_2
Property and Equipment, Net (Details Narrative) - USD ($) | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Property, Plant and Equipment [Abstract] | ||
Depreciation expense | $ 95,554 | $ 18,252 |
Accounts Payable and Accrued _3
Accounts Payable and Accrued Expenses (Details) - USD ($) | Dec. 31, 2023 | Dec. 31, 2022 |
Payables and Accruals [Abstract] | ||
Accrued expenses | $ 361,738 | $ 241,960 |
Accounts payable | 269,806 | 297,725 |
Accounts payable – related party | 16,900 | 27,029 |
Accrued legal costs | 345,729 | 349,726 |
Accrued salary and payroll taxes | 1,195 | 134,152 |
Total | $ 995,368 | $ 1,050,592 |
Accounts Payable and Accrued _4
Accounts Payable and Accrued Expenses (Details Narrative) - USD ($) | Dec. 31, 2023 | Dec. 31, 2022 |
Virhtech Gmbh [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Accounts payable - related party | $ 16,900 | $ 27,029 |
Convertible Loans Payable (Deta
Convertible Loans Payable (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Debt Disclosure [Abstract] | ||
Beginning balance of notes payable, net | $ 73,664 | $ 176,703 |
Issuances of debt | 153,000 | 178,000 |
Cash settlement of debt | 0 | (150,000) |
Debt discount | (256,555) | (175,025) |
Conversions | (33,663) | (50,000) |
Amortization of debt discount | 216,013 | 93,986 |
Ending balance of notes payable, net | $ 152,459 | $ 73,664 |
Convertible Loans Payable (De_2
Convertible Loans Payable (Details 1) - USD ($) | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Debt Disclosure [Abstract] | ||
Balance at beginning | $ 184,025 | $ 354,160 |
Change due to issuances | 81,530 | 175,026 |
Change due to exercise / redemptions | (261,442) | (110,507) |
Change in fair value | 372,828 | (234,654) |
Balance at ending | $ 376,941 | $ 184,025 |
Convertible Loans Payable (De_3
Convertible Loans Payable (Details 2) - $ / shares | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Minimum [Member] | ||
Debt Instrument [Line Items] | ||
Stock price | $ 0.02 | $ 0.04 |
Exercise price | $ 0.02 | $ 0.02 |
Contractual term (in years) | 5 months 26 days | 8 months 4 days |
Volatility (annual) | 184% | 140% |
Risk-free rate | 4.64% | 0.51% |
Maximum [Member] | ||
Debt Instrument [Line Items] | ||
Stock price | $ 0.12 | $ 0.19 |
Exercise price | $ 0.03 | $ 0.10 |
Contractual term (in years) | 1 year | 1 year |
Volatility (annual) | 219% | 1,313% |
Risk-free rate | 5.56% | 4.73% |
Convertible Loans Payable (De_4
Convertible Loans Payable (Details 3) - USD ($) | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 |
Platform Operator, Crypto-Asset [Line Items] | |||
Derivative liability | $ 376,941 | $ 184,025 | $ 354,160 |
Warrants and derivative liabilities | 376,941 | 184,025 | |
Fair Value, Inputs, Level 1 [Member] | |||
Platform Operator, Crypto-Asset [Line Items] | |||
Derivative liability | 0 | 0 | |
Warrants and derivative liabilities | 0 | 0 | |
Fair Value, Inputs, Level 2 [Member] | |||
Platform Operator, Crypto-Asset [Line Items] | |||
Derivative liability | 0 | 0 | |
Warrants and derivative liabilities | 0 | 0 | |
Fair Value, Inputs, Level 3 [Member] | |||
Platform Operator, Crypto-Asset [Line Items] | |||
Derivative liability | 376,941 | 184,025 | |
Warrants and derivative liabilities | $ 376,941 | $ 184,025 |
Convertible Loans Payable (De_5
Convertible Loans Payable (Details Narrative) - USD ($) | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Short-Term Debt [Line Items] | ||
Loans payable | $ 193,000 | $ 218,000 |
Net of discount | 40,541 | 144,336 |
Convertible loan payables net of discount | 152,459 | 73,664 |
Gain on derivative liability | (395,556) | 234,654 |
Convertible Debt [Member] | ||
Short-Term Debt [Line Items] | ||
Proceeds from convertible debt | $ 153,000 | $ 178,000 |
Interest rate | 8% | 8% |
Fair value of derivative liability recorded as discount on note | $ 81,530 | $ 175,025 |
Gain on derivative liability | $ 395,556 | $ 234,654 |
Leases (Details)
Leases (Details) | Dec. 31, 2023 USD ($) |
2024 | $ 190,589 |
2025 | 150,275 |
2026 | 26,068 |
2027 | 0 |
Total future minimum lease payments | 366,931 |
Less: Imputed interest | (28,981) |
Present value of lease liabilities | 337,950 |
Operating Lease Liabilities [Member] | |
2024 | 171,074 |
2025 | 130,759 |
2026 | 8,179 |
2027 | 0 |
Total future minimum lease payments | 310,013 |
Less: Imputed interest | (22,678) |
Present value of lease liabilities | $ 287,334 |
Remaining lease term (in years) | 1 year 10 months 2 days |
Finance Lease Liability [Member] | |
2024 | $ 19,515 |
2025 | 19,515 |
2026 | 17,889 |
2027 | 0 |
Total future minimum lease payments | 56,918 |
Less: Imputed interest | (6,302) |
Present value of lease liabilities | $ 50,616 |
Remaining lease term (in years) | 2 years 11 months 1 day |
Leases (Details Narrative)
Leases (Details Narrative) | 12 Months Ended | |||
Oct. 31, 2023 USD ($) | Dec. 31, 2023 USD ($) | Dec. 31, 2022 USD ($) | Oct. 31, 2023 EUR (€) | |
Financing Receivable, Past Due [Line Items] | ||||
Borrowing rate | 8% | |||
Weighted-average discount rate | 8% | |||
Amortization expense | $ 19,078 | $ 1,299 | ||
Cash lease payments | 19,078 | 1,522 | ||
Financing lease right-of-use asset | 66,613 | 64,416 | ||
Financing lease liability, current | 16,045 | 14,327 | ||
Financing lease liability, non current | $ 34,570 | 48,946 | ||
Rental payments due | $ 15,356 | |||
Lease agreement term | 2 years | 2 years | ||
Lease agreement term expiring date | September 30, 2025 | |||
Borrowing rate | 8% | |||
Operating leases expense | $ 106,079 | 47,612 | ||
Operating lease right-of-use asset | 287,334 | 62,113 | ||
Operating lease liability, current | 153,803 | 62,113 | ||
Operating lease liability, non current | $ 133,531 | 0 | ||
Vehicle Lease [Member] | ||||
Financing Receivable, Past Due [Line Items] | ||||
Lease agreement term | 3 years | 3 years | ||
Lease agreement term expiring date | October 2026 | |||
Unrelated party amount | € | € 741 | |||
Finance Lease Liability [Member] | ||||
Financing Receivable, Past Due [Line Items] | ||||
Remaining lease term (in years) | 2 years 11 months 1 day | |||
Operating Lease Liabilities [Member] | ||||
Financing Receivable, Past Due [Line Items] | ||||
Weighted-average discount rate | 8% | |||
Cash lease payments | $ 106,079 | $ 47,612 | ||
Remaining lease term (in years) | 1 year 10 months 2 days |
Related Party Transactions (Det
Related Party Transactions (Details) - USD ($) | Dec. 31, 2023 | Dec. 31, 2022 |
Related Party Transaction [Line Items] | ||
Accrued salaries | $ 1,195 | $ 134,152 |
Due to officers | 285,267 | 222,492 |
Due to officers | 285,267 | 222,492 |
Officer Ralph Hofmeier [Member] | ||
Related Party Transaction [Line Items] | ||
Unsecured advances due to officer | 2,253 | 56,400 |
Accrued salaries | 148,985 | 86,265 |
Due to officers | 151,238 | 142,665 |
Officer Irma Velazquez [Member] | ||
Related Party Transaction [Line Items] | ||
Unsecured advances due to officer | 7,341 | 10,393 |
Accrued salaries | 126,688 | 69,434 |
Due to officers | $ 134,029 | $ 79,827 |
Related Party Transactions (D_2
Related Party Transactions (Details Narrative) - USD ($) | 12 Months Ended | ||||||
Jan. 18, 2023 | Dec. 31, 2023 | Sep. 01, 2023 | Mar. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2020 | Dec. 13, 2019 | |
Related Party Transactions [Abstract] | |||||||
Solar powered atmospheric water generator | $ 550,000 | ||||||
Deposit liability, current | $ 193,497 | $ 303,742 | |||||
Unpaid balance on equipment | $ 52,761 | $ 52,761 | |||||
Accounts receivable | 0 | 52,761 | |||||
Accounts payable - related party | $ 16,900 | $ 27,029 | |||||
Number of shares issued to officers, shares | 6,952,523 | ||||||
Number of shares issued to officers, value | $ 168,126 | ||||||
Common stock deposits received value | $ 310,700 | ||||||
Common stock deposits received shares | 13,674,000 |
Shareholders_ Deficit (Details
Shareholders’ Deficit (Details Narrative) - USD ($) | 1 Months Ended | 3 Months Ended | 12 Months Ended | |||||||||
Nov. 11, 2023 | Oct. 06, 2023 | Nov. 30, 2023 | Oct. 31, 2023 | Jan. 18, 2023 | Dec. 31, 2023 | Sep. 30, 2023 | Jun. 30, 2023 | Mar. 31, 2023 | Dec. 31, 2023 | Dec. 31, 2022 | Jan. 26, 2022 | |
Class of Stock [Line Items] | ||||||||||||
Preferred stock, shares authorized | 500,000,000 | 500,000,000 | 500,000,000 | |||||||||
Preferred stock, par value | $ 0.001 | $ 0.001 | $ 0.001 | |||||||||
Preferred stock, share issued | 9,780,976 | 9,780,976 | 9,780,976 | |||||||||
Preferred stock, shares outstanding | 9,780,976 | 9,780,976 | 9,780,976 | |||||||||
Common stock, shares authorized | 1,000,000,000 | 1,000,000,000 | 1,000,000,000 | |||||||||
Common stock, par value | $ 0.001 | $ 0.001 | $ 0.001 | |||||||||
Common stock, shares outstanding | 268,040,179 | 268,040,179 | 182,934,483 | |||||||||
Stock issued during period, value | $ 36,444 | |||||||||||
Common stock shares sold | 15,400,000 | 15,400,000 | ||||||||||
Common stock value | $ 770,000 | $ 770,000 | ||||||||||
Line of credit | $ 5,000,000 | |||||||||||
Return of shares in settlement litigation amount | $ 120,000 | |||||||||||
Return of shares in settlement litigation | 266,634 | |||||||||||
Stock issued for services, shares | 459,279 | 56,975 | ||||||||||
Stock issued for services, value | $ 15,000 | $ 5,000 | $ 19,116 | 268,099 | ||||||||
Stock issued value, other | 541 | |||||||||||
Conversion of interest and fees | $ 35 | |||||||||||
Convertible Debt [Member] | ||||||||||||
Class of Stock [Line Items] | ||||||||||||
Conversion of debt, value | $ 50,000 | $ 35,000 | $ 93,000 | |||||||||
Accrued interest | 3,682 | 1,948 | 4,142 | |||||||||
Other fees | $ 900 | $ 900 | $ 1,400 | |||||||||
Conversion of debt, shares | 3,496,616 | 2,162,770 | 4,753,178 | |||||||||
Gary Rodney [Member] | ||||||||||||
Class of Stock [Line Items] | ||||||||||||
Shares issued | 6,250,000 | |||||||||||
Shares issued for accrued salary per share value | 0.02 | |||||||||||
Shares issued for accrued salary | $ 196,159 | |||||||||||
Ralph Hofmeier [Member] | ||||||||||||
Class of Stock [Line Items] | ||||||||||||
Shares issued | 702,523 | |||||||||||
Shares issued for accrued salary per share value | 0.05 | |||||||||||
Shares issued for accrued salary | $ 2,109 | |||||||||||
Common Stock Subscriptions [Member] | ||||||||||||
Class of Stock [Line Items] | ||||||||||||
Stock issued during period shares new issue | 375,000 | |||||||||||
Stock issued during period, value | $ 37,500 | |||||||||||
Common Stock [Member] | ||||||||||||
Class of Stock [Line Items] | ||||||||||||
Stock issued during period shares new issue | 36,443,736 | |||||||||||
Shares issued | 500,000 | |||||||||||
Stock issued for services, shares | 1,574,546 | |||||||||||
Stock issued for services, value | $ 1,574 | |||||||||||
Shares isuued, value | $ 500 | |||||||||||
Stock issued during period shares others | 540,716 | |||||||||||
Conversion of interest and fees shares | 34,842 | |||||||||||
Common Stock [Member] | Investor [Member] | ||||||||||||
Class of Stock [Line Items] | ||||||||||||
Stock issued during period shares new issue | 21,041,000 | 2,750,000 | ||||||||||
Common stock shares sold | 23,791,000 | 8,940,000 | 13,674,000 | |||||||||
Common stock value | $ 807,800 | $ 194,300 | $ 310,700 | |||||||||
Common Stock [Member] | Investor 1 [Member] | ||||||||||||
Class of Stock [Line Items] | ||||||||||||
Stock issued during period shares new issue | 6,420,000 | 2,550,000 | ||||||||||
Common Stock [Member] | ELOC [Member] | ||||||||||||
Class of Stock [Line Items] | ||||||||||||
Stock issued during period shares new issue | 5,310,988 | |||||||||||
Stock issued during period, value | $ 196,000 |
Commitments and Contingencies (
Commitments and Contingencies (Details Narrative) - USD ($) | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Aug. 04, 2022 | |
Line of credit facility, description | Requests are limited to the lesser of $1,000,000 or 500% of the average shares traded for the 10 days prior the Closing Request Date. The purchase price shall be 85% of the two lowest individual daily VWAP during the five (5) trading days immediately prior to the date the Request Notice is delivered (in each case, to be appropriately adjusted for any reorganization, recapitalization, non-cash dividend, stock split or other similar transaction that occurs on or after the date of this Agreement). In addition, the Company and Tysadco Partners entered into a Registration Rights Agreement, whereby the Company shall register the securities on a registration statement covering the Offering Amount with the Securities and Exchange Commission (“SEC”) within forty-five days of filing its 10-K for the year ended December 31, 2021. The Company’s Registration Statement on Form S-1 registering 25,000,000 shares in connection with the ELOC was declared effective on July 5, 2022. | ||
Employment Agreements 2022 [Member] | |||
Base salary | $ 210,305 | ||
Velazquez [Member] | |||
Salary first year | $ 125,000 | ||
Salary second year | 150,000 | ||
Employees [Member] | Employment Agreements 2022 [Member] | |||
Bonus paid | $ 29,164 | ||
Tysadco Partners LLC [Member] | |||
Purchase of common stock | $ 5,000,000 |
Income Taxes (Details)
Income Taxes (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Operating Loss Carryforwards [Line Items] | ||
State income tax net of Federal benefits – U.S. | $ (63,401) | $ (35,154) |
Non-deductible expenses – U.S. | 165,611 | 54,953 |
Temporary differences | 0 | (762,687) |
Total provision for income tax – U.S. and foreign | 0 | 0 |
US Treasury and Government [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Net operating loss - foreign | (720,896) | (169,906) |
Change in valuation allowance – foreign | 377,280 | 912,794 |
Foreign [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Net operating loss - foreign | (2,438) | (249,864) |
Change in valuation allowance – foreign | $ 243,844 | $ 249,864 |
Income Taxes (Details 1)
Income Taxes (Details 1) - USD ($) | Dec. 31, 2023 | Dec. 31, 2022 |
Deferred tax assets | ||
Book to tax difference – fixed assets | $ 402,131 | $ 506,826 |
Stock based compensation | 583 | 0 |
Right of use asset | (72,825) | 0 |
Operating lease liability | 72,825 | 0 |
Total deferred tax assets – U.S. and foreign | 4,253,732 | 3,632,607 |
Valuation allowance – U.S. and foreign | (4,253,732) | (3,632,607) |
Net deferred tax assets | 0 | 0 |
US Treasury and Government [Member] | ||
Deferred tax assets | ||
Net operating loss carry forward – foreign | 3,278,131 | 2,796,738 |
Foreign [Member] | ||
Deferred tax assets | ||
Net operating loss carry forward – foreign | $ 572,887 | $ 329,043 |
Income Taxes (Details Narrative
Income Taxes (Details Narrative) - USD ($) | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
US Treasury and Government [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Net operating loss carry-forwards | $ 13,000,000 | |
Change in valuation allowance U.S. | 377,280 | $ 912,794 |
Foreign [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Net operating loss carry-forwards | 2,600,000 | |
Change in valuation allowance U.S. | $ 243,844 | $ 249,864 |
Subsequent Events (Details Narr
Subsequent Events (Details Narrative) - USD ($) | 12 Months Ended | |||||||
Mar. 25, 2024 | Mar. 07, 2024 | Feb. 15, 2024 | Feb. 07, 2024 | Feb. 05, 2024 | Jan. 17, 2024 | Dec. 31, 2023 | Dec. 31, 2022 | |
Subsequent Event [Line Items] | ||||||||
Number of shares issued, value | $ 2,316,300 | $ 1,252,001 | ||||||
Subsequent Event [Member] | Investor [Member] | ||||||||
Subsequent Event [Line Items] | ||||||||
Number of shares issued, shares | 1,400,000 | 1,041,667 | 700,000 | |||||
Number of shares issued, value | $ 70,000 | $ 25,000 | $ 15,000 | |||||
Subsequent Event [Member] | Investor 1 [Member] | ||||||||
Subsequent Event [Line Items] | ||||||||
Number of shares issued, shares | 600,000 | |||||||
Number of shares issued, value | $ 30,000 | |||||||
Subsequent Event [Member] | GS Capital Partners LLC [Member] | ||||||||
Subsequent Event [Line Items] | ||||||||
Shares issued | 7,913,836 | |||||||
Principal amount | $ 75,000 | |||||||
Accrued interest | 3,238 | |||||||
Other fees | $ 900 | |||||||
Subsequent Event [Member] | Geebis Consulting LLC [Member] | ||||||||
Subsequent Event [Line Items] | ||||||||
Cash proceeds | $ 150,000 | |||||||
Interest rate | 8% | |||||||
Subsequent Event [Member] | Diagonal Lending LLC 1800 [Member] | ||||||||
Subsequent Event [Line Items] | ||||||||
Cash proceeds | $ 126,000 | |||||||
Interest rate | 12% |