Cover
Cover - shares | 9 Months Ended | |
Sep. 30, 2021 | Oct. 29, 2021 | |
Cover [Abstract] | ||
Entity Registrant Name | Cloudweb, Inc. | |
Entity Central Index Key | 0001619227 | |
Document Type | 10-Q | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Entity Small Business | true | |
Entity Shell Company | false | |
Entity Emerging Growth Company | false | |
Entity Current Reporting Status | Yes | |
Document Period End Date | Sep. 30, 2021 | |
Entity Filer Category | Non-accelerated Filer | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2021 | |
Entity Common Stock Shares Outstanding | 63,140,557 | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Entity Interactive Data Current | Yes | |
Entity File Number | 333-199193 | |
Entity Incorporation State Country Code | FL | |
Entity Tax Identification Number | 47-0978297 | |
Entity Address Address Line 1 | 800 W El Camino Real Suite 180 | |
Entity Address City Or Town | Mountain View | |
Entity Address State Or Province | CA | |
Entity Address Postal Zip Code | 94040 | |
City Area Code | 713 | |
Local Phone Number | 583-6813 |
CONDENSED BALANCE SHEETS
CONDENSED BALANCE SHEETS - USD ($) | Sep. 30, 2021 | Dec. 31, 2020 |
ASSETS | ||
Total Current Assets | $ 0 | $ 0 |
TOTAL ASSETS | 0 | 0 |
Current Liabilities | ||
Accounts payable and accrued liabilities | 56,839 | 55,409 |
Accrued interest | 135,260 | 107,565 |
Promissory notes payable | 2,160 | 2,160 |
Convertible notes payable, net of note discount of $1,784 and $0, respectively | 154,198 | 39,982 |
Due to related party | 28,480 | 0 |
Total Current Liabilities | 376,937 | 205,116 |
Convertible notes payable, net of note discount of $0 and $3,584, respectively | 0 | 112,416 |
Promissory notes payable | 67,326 | 67,326 |
Total Liabilities | 444,263 | 384,858 |
Stockholders' Deficit | ||
Common stock, no par value; 500,000,000 shares authorized, 63,140,557 shares issued and outstanding | 128,437,821 | 128,437,821 |
Accumulated deficit | (128,785,868) | (128,726,463) |
Accumulated deficit from discontinued operations | (96,216) | (96,216) |
Total Stockholders' Deficit | (444,263) | (384,858) |
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT | $ 0 | $ 0 |
CONDENSED BALANCE SHEETS (Paren
CONDENSED BALANCE SHEETS (Parenthetical) - USD ($) | Sep. 30, 2021 | Dec. 31, 2020 |
CONDENSED BALANCE SHEETS | ||
Convertible notes payable, net of note discount current | $ 1,784 | $ 0 |
Convertible notes payable, net of note discount non current | $ 0 | $ 3,584 |
Stockholders' Deficit | ||
Common stock, shares par value | $ 0 | $ 0 |
Common stock, shares authorized | 500,000,000 | 500,000,000 |
Common stock, shares issued | 63,140,557 | 63,140,557 |
Common stock, shares outstanding | 63,140,557 | 63,140,557 |
CONDENSED STATEMENTS OF OPERATI
CONDENSED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
OPERATING EXPENSES | ||||
Professional fees | $ 7,560 | $ 5,550 | $ 29,910 | $ 18,957 |
Web development cost | 0 | 10,030 | 0 | 10,030 |
Salaries and wages - related party | 0 | 11,625,000 | 0 | 34,875,000 |
Total Operating Expenses | 7,560 | 11,640,580 | 29,910 | 34,903,987 |
OTHER EXPENSES | ||||
Interest expense | (9,933) | (16,368) | (29,495) | (67,568) |
Total Operating Expenses | (9,933) | (16,368) | (29,495) | (67,568) |
NET LOSS | $ (17,493) | $ (11,656,948) | $ (59,405) | $ (34,971,555) |
NET LOSS PER SHARE: BASIC AND DILUTED | $ 0 | $ (0.18) | $ 0 | $ (0.73) |
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: BASIC AND DILUTED | 63,140,557 | 63,140,557 | 63,140,557 | 47,998,221 |
CONDENSED STATEMENTS OF STOCKHO
CONDENSED STATEMENTS OF STOCKHOLDERS DEFICIT (Unaudited) - USD ($) | Total | Common Stock | Accumulated Deficit | Accumulated Deficit from Discontinued Operations Deficit | Stock Payable |
Balance, shares at Dec. 31, 2019 | 140,557 | ||||
Balance, amount at Dec. 31, 2019 | $ (335,967) | $ 35,369,809 | $ (82,109,560) | $ (96,216) | $ 46,500,000 |
Conversion of convertible notes into common stock, shares | 3,000,000 | ||||
Conversion of convertible notes into common stock, amount | 9,000 | $ 9,000 | 0 | 0 | 0 |
Beneficial Note Conversion Feature | 21,801 | $ 21,801 | 0 | 0 | 0 |
Stock-based compensation, shares | 60,000,000 | ||||
Stock-based compensation, amount | 11,625,000 | $ 58,125,000 | 0 | 0 | (46,500,000) |
Net loss | (11,662,639) | $ 0 | (11,662,639) | 0 | 0 |
Balance, shares at Mar. 31, 2020 | 63,140,557 | ||||
Balance, amount at Mar. 31, 2020 | (342,805) | $ 93,525,610 | (93,772,199) | (96,216) | 0 |
Balance, shares at Dec. 31, 2019 | 140,557 | ||||
Balance, amount at Dec. 31, 2019 | (335,967) | $ 35,369,809 | (82,109,560) | (96,216) | 46,500,000 |
Net loss | (34,971,555) | ||||
Balance, shares at Sep. 30, 2020 | 63,140,557 | ||||
Balance, amount at Sep. 30, 2020 | (370,584) | $ 116,806,747 | (117,081,115) | (96,216) | 0 |
Balance, shares at Mar. 31, 2020 | 63,140,557 | ||||
Balance, amount at Mar. 31, 2020 | (342,805) | $ 93,525,610 | (93,772,199) | (96,216) | 0 |
Beneficial Note Conversion Feature | 13,800 | 13,800 | 0 | 0 | 0 |
Net loss | (11,651,968) | 0 | (11,651,968) | 0 | 0 |
Stock-based compensation | 11,625,000 | $ 11,625,000 | 0 | 0 | 0 |
Balance, shares at Jun. 30, 2020 | 63,140,557 | ||||
Balance, amount at Jun. 30, 2020 | (355,973) | $ 105,164,410 | (105,424,167) | (96,216) | 0 |
Beneficial Note Conversion Feature | 7,307 | 7,307 | 0 | 0 | 0 |
Net loss | (11,656,948) | 0 | (11,656,948) | 0 | 0 |
Stock-based compensation | 11,625,000 | 11,625,000 | 0 | 0 | 0 |
Shareholder Contribution | 10,030 | $ 10,030 | 0 | 0 | 0 |
Balance, shares at Sep. 30, 2020 | 63,140,557 | ||||
Balance, amount at Sep. 30, 2020 | (370,584) | $ 116,806,747 | (117,081,115) | (96,216) | $ 0 |
Balance, shares at Dec. 31, 2020 | 63,140,557 | ||||
Balance, amount at Dec. 31, 2020 | (384,858) | $ 128,437,821 | (128,726,463) | (96,216) | |
Net loss | (26,780) | $ 0 | (26,780) | 0 | |
Balance, shares at Mar. 31, 2021 | 63,140,557 | ||||
Balance, amount at Mar. 31, 2021 | (411,638) | $ 128,437,821 | (128,753,243) | (96,216) | |
Balance, shares at Dec. 31, 2020 | 63,140,557 | ||||
Balance, amount at Dec. 31, 2020 | (384,858) | $ 128,437,821 | (128,726,463) | (96,216) | |
Net loss | (59,405) | ||||
Balance, shares at Sep. 30, 2021 | 63,140,557 | ||||
Balance, amount at Sep. 30, 2021 | (444,263) | $ 128,437,821 | (128,785,868) | (96,216) | |
Balance, shares at Mar. 31, 2021 | 63,140,557 | ||||
Balance, amount at Mar. 31, 2021 | (411,638) | $ 128,437,821 | (128,753,243) | (96,216) | |
Net loss | (15,132) | $ 0 | (15,132) | 0 | |
Balance, shares at Jun. 30, 2021 | 63,140,557 | ||||
Balance, amount at Jun. 30, 2021 | (426,770) | $ 128,437,821 | (128,768,375) | (96,216) | |
Net loss | (17,493) | $ 0 | (17,493) | 0 | |
Balance, shares at Sep. 30, 2021 | 63,140,557 | ||||
Balance, amount at Sep. 30, 2021 | $ (444,263) | $ 128,437,821 | $ (128,785,868) | $ (96,216) |
CONDENSED STATEMENTS OF CASH FL
CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) | 9 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net loss | $ (59,405) | $ (34,971,555) |
Adjustments to reconcile net loss to net cash from operating activities: | ||
Amortization of debt discount | 1,800 | 44,707 |
Stock based compensation | 0 | 34,875,000 |
Web development cost | 0 | 10,030 |
Changes in operating liabilities: | ||
Accounts payable and accrued liabilities | 1,430 | (6,917) |
Accrued interest | 27,695 | 22,860 |
Net cash used in operating activities | (28,480) | (25,875) |
CASH FLOWS FROM INVESTING ACTIVITIES | 0 | 0 |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Advancement from related party | 28,480 | 0 |
Proceeds from issuance of convertible notes | 0 | 25,875 |
Net cash provided by financing activities | 28,480 | 25,875 |
Net change in cash and cash equivalents | 0 | 0 |
Cash and cash equivalents - beginning of period | 0 | 0 |
Cash and cash equivalents - end of period | 0 | 0 |
Supplemental Cash Flow Disclosures | ||
Cash paid for interest | 0 | 0 |
Cash paid for income taxes | 0 | 0 |
Non-Cash Investing and Financing Activity: | ||
Amendment of promissory note to convertible note | 0 | 17,033 |
Conversion of convertible notes for common stock | 0 | 9,000 |
Beneficial conversion feature | $ 0 | $ 42,908 |
ORGANIZATION AND BUSINESS OPERA
ORGANIZATION AND BUSINESS OPERATIONS | 9 Months Ended |
Sep. 30, 2021 | |
ORGANIZATION AND BUSINESS OPERATIONS | |
NOTE 1 - ORGANIZATION AND BUSINESS OPERATIONS | NOTE 1 – ORGANIZATION AND BUSINESS OPERATIONS Cloudweb, Inc. (the “Company”, or “we”) is a Florida corporation incorporated on May 25, 2014 as Formigli, Inc. In December 2015, the Company changed its name to Data Backup, Inc., and on November 4, 2016, the Company changed its name to Data Backup Solutions Inc. On October 1, 2017, the Company changed its name to Cloudweb, Inc. We are currently exploring different options of further developing and marketing our web hosting and data storage services. This includes plans to make hosting available for free while being supported by advertiser content. The Company will also look into white labeling its services to allow other brands to use our platforms for their own needs. |
SUMMARY OF SIGNIFICANT ACCOUNTI
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 9 Months Ended |
Sep. 30, 2021 | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | |
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying unaudited interim condensed financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and in accordance with the instructions to Form 10-Q and Article 8 of Regulation S-X. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation have been included. Operating results for the nine months ended September 30, 2021 are not necessarily indicative of the results that may be expected for the year ending December 31, 2021. Notes to the unaudited interim condensed financial statements that would substantially duplicate the disclosures contained in the audited financial statements for fiscal year 2020 have been omitted. This report should be read in conjunction with the audited financial statements and the footnotes thereto for the fiscal year ended December 31, 2020 included in the Company’s Form 10-K as filed with the Securities and Exchange Commission on March 10, 2021. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates. Basic and Diluted Income (Loss) Per Share The Company computes income (loss) per share in accordance with FASB ASC 260, “Earnings per Share” which requires presentation of both basic and diluted earnings per share on the face of the statement of operations. Basic loss per share is computed by dividing net income (loss) available to common shareholders by the weighted average number of outstanding common shares during the period. Diluted income (loss) per share gives effect to all dilutive potential common shares outstanding during the period. Dilutive loss per share excludes all potential common shares if their effect is anti-dilutive. For the nine months ended September 30, 2021 and 2020, respectively, the following convertible notes were excluded from the computation of diluted net loss per shares as the result of the computation was anti-dilutive: September 30, September 30, 2021 2020 (Shares) (Shares) Convertible notes payable 57,827,097 51,753,097 Recent accounting pronouncements In August 2020, the FASB issued ASU 2020-06, ASC Subtopic 470-20 “ Debt—Debt with Conversion and Other Options |
GOING CONCERN
GOING CONCERN | 9 Months Ended |
Sep. 30, 2021 | |
GOING CONCERN | |
NOTE 3 - GOING CONCERN | NOTE 3 – GOING CONCERN The Company believes that its existing capital resources may not be adequate to enable it to execute its business plan. These conditions raise substantial doubt as to the Company’s ability to continue as a going concern. The Company estimates that it will require additional cash resources from loan from related party and unaffiliated parties based on its current operating plan and condition. The accompanying financial statements do not include any adjustments that might be necessary should we be unable to continue as a going concern. If we fail to generate positive cash flow or obtain additional financing, when required, we may have to modify, delay, or abandon some or all of our business and expansion plans. |
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS | 9 Months Ended |
Sep. 30, 2021 | |
RELATED PARTY TRANSACTIONS | |
NOTE 4 - RELATED PARTY TRANSACTIONS | NOTE 4 – RELATED PARTY TRANSACTIONS During the nine months ended September 30, 2021, the Director of the Company advance $28,480 for paying operating expenses on behalf of the Company. The loan is non-interest bearing and due on demand. |
PROMISSORY NOTES
PROMISSORY NOTES | 9 Months Ended |
Sep. 30, 2021 | |
PROMISSORY NOTES | |
NOTE 5 - PROMISSORY NOTES | NOTE 5 – PROMISSORY NOTES September 30, December 31, Expiry Date 2021 2020 Interest Rate Promissory Note - November 2017 Due on demand $ 2,160 $ 2,160 60% per annum Promissory Note - March 2018 3/31/2028 15,296 15,296 30% per annum Promissory Note - June 2018 6/29/2028 12,249 12,249 30% per annum Promissory Note - September 2018 9/29/2028 5,408 5,408 30% per annum Promissory Note - December 2018 12/30/2028 6,137 6,137 30% per annum Promissory Note - March 2019 3/30/2029 7,150 7,150 30% per annum Promissory Note - June 2019 6/30/2029 10,105 10,105 30% per annum Promissory Note - September 2019 9/30/2029 4,081 4,081 30% per annum Promissory Note - December 2019 12/31/2029 6,900 6,900 30% per annum 69,486 69,486 Less current portion of promissory note payable (2,160 ) (2,160 ) Long-term promissory notes payable $ 67,326 $ 67,326 As of September 30, 2021 and December 31, 2020, the accrued interest on the promissory notes was $62,180 and $34,895, respectively. |
CONVERTIBLE NOTES
CONVERTIBLE NOTES | 9 Months Ended |
Sep. 30, 2021 | |
CONVERTIBLE NOTES | |
NOTE 6 - CONVERTIBLE NOTES | NOTE 6 – CONVERTIBLE NOTES September 30, December 31, Expiry Date 2021 2020 Convertible Notes - July 2017 6/30/2022 $ 116,000 $ 116,000 Convertible Notes - January 2020 Due on demand 8,033 8,033 Convertible Notes - March 2020 Due on demand 4,768 4,768 Convertible Notes - June 2020 Due on demand 13,800 13,800 Convertible Notes - September 2020 Due on demand 7,307 7,307 Convertible Notes - December 2020 Due on demand 6,074 6,074 Less debt discount (1,784 ) (3,584 ) 154,198 152,398 Less current portion of convertible note payable (154,198 ) (39,982 ) Long-term convertible notes payable $ - $ 112,416 Convertible Notes – July 2017 On July 1, 2017, the Company replaced the promissory notes held by the four non-affiliated assignees with convertible notes at principal amount of $34,000, for total note principal amount of $136,000. The convertible notes bear interest at 4% per annum, has an original expiry date of June 30, 2019 and subsequently extended to June 30, 2022 and are convertible at $0.005 per share for the Company common stock. On January 2, 2018, the four non-affiliated holders of the convertible notes elected to convert $5,000 principal portion of their notes for 1,000,000 shares of common stock at $0.005 per share. An aggregate $20,000 principal amount of the four convertible notes were converted for 4,000,000 common shares. Convertible Note – January 2020 On January 2, 2020, the Company replaced a promissory note of $17,033 originally issued to an unaffiliated party on December 31, 2017 with a convertible note of $17,033. The convertible note is due on demand, bear interest at 10% per annum and is convertible at $0.003 per share. The discount on convertible note from beneficial conversion feature of $17,033 was fully amortized during the year ended December 31, 2020. On March 4, 2020, this convertible note was sold to another unaffiliated party. Convertible Note – March 2020 On March 4, 2020, the convertible note originally issued on January 2, 2020 comprising of principal amount of $17,033 and accrued interest of $21,073 was sold to another unaffiliated party. On March 23, 2020, the principal amount of the convertible note of $9,000 was converted into 3,000,000 shares of common stock. (see Note 7) On March 31, 2020, the Company issued to an unaffiliated party a convertible note at $4,768 for paying operating expenses on behalf of the Company. The convertible note is due on demand, bears interest at 30% per annum and is convertible at $0.001 per share. The discount on convertible note from beneficial conversion feature of $4,768 was fully amortized during the year ended December 31, 2020. Convertible Note – June 2020 On June 30, 2020, the Company issued to an unaffiliated party a convertible note at $13,800 for paying operating expenses on behalf of the Company. The convertible note is due on demand, bears interest at 30% per annum and is convertible at $0.001 per share. The discount on convertible note from beneficial conversion feature of $13,800 was fully amortized during the year ended December 31, 2020. Convertible Note – September 2020 On September 30, 2020, the Company issued to an unaffiliated party a convertible note at $7,307 for paying operating expenses on behalf of the Company. The convertible note is due on demand, bears interest at 30% per annum and is convertible at $0.001 per share. The discount on convertible note from beneficial conversion feature of $7,307 was fully amortized during the year ended December 31, 2020. Convertible Note – December 2020 On December 31, 2020, the Company issued to an unaffiliated party a convertible note at $6,074 for paying operating expenses on behalf of the Company. The convertible note is due on demand, bears interest at 30% per annum and is convertible at $0.001 per share. The discount on convertible note from beneficial conversion feature of $6,074 was fully amortized during the year ended December 31, 2020. During the nine months ended December 31, 2021 and 2020, the Company recognized amortization of debt discount and beneficial conversion feature of $1,800 and $44,707, respectively. As of September 30, 2021 and December 31, 2020, the convertible notes payable was $154,198 and $152,398, net of note discount of $1,784 and $3,584, and accrued interest payable was $73,080 and $61,684, respectively. |
EQUITY
EQUITY | 9 Months Ended |
Sep. 30, 2021 | |
EQUITY | |
NOTE 7 - EQUITY | NOTE 7 - EQUITY Authorized Stock The Company’s authorized common stock consists of 500,000,000 shares with no par value. Common Shares On March 5, 2020, the Company issued 60,000,000 shares of restricted common stock valued at $93,000,000 to a corporation controlled by the Company’s CEO. On March 23, 2020, principal amount of $9,000 from a convertible note was converted for 3,000,000 shares of common stock at stock trading price of $1.25per share. On June 20, 2021, a majority of stockholders of our company and board of directors approved a reverse stock split of our issued and outstanding shares of common stock on a basis of up to two hundred (200) old shares for one (1) new share of common stock. The reverse stock split is under assessment by FINRA for approval as of the date of the 10Q filing. |
RISKS AND UNCERTAINTIES
RISKS AND UNCERTAINTIES | 9 Months Ended |
Sep. 30, 2021 | |
RISKS AND UNCERTAINTIES | |
NOTE 8 - RISKS AND UNCERTAINTIES | NOTE 8 – RISKS AND UNCERTAINTIES In early 2020, the World Health Organization declared the rapidly spreading coronavirus disease (COVID-19) outbreak a pandemic. This pandemic has resulted in governments worldwide enacting emergency measures to combat the spread of the virus. The Company considered the impact of COVID-19 on the assumptions and estimates used and determined that there were no material adverse impacts on the Company’s results of operations and financial position at September 30, 2021. The full extent of the future impacts of COVID-19 on the Company’s operations is uncertain. A prolonged outbreak could have a material adverse impact on financial results and business operations of the Company in the future. The Company is not may |
SUMMARY OF SIGNIFICANT ACCOUN_2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 9 Months Ended |
Sep. 30, 2021 | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | |
Basis of Presentation | The accompanying unaudited interim condensed financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and in accordance with the instructions to Form 10-Q and Article 8 of Regulation S-X. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation have been included. Operating results for the nine months ended September 30, 2021 are not necessarily indicative of the results that may be expected for the year ending December 31, 2021. Notes to the unaudited interim condensed financial statements that would substantially duplicate the disclosures contained in the audited financial statements for fiscal year 2020 have been omitted. This report should be read in conjunction with the audited financial statements and the footnotes thereto for the fiscal year ended December 31, 2020 included in the Company’s Form 10-K as filed with the Securities and Exchange Commission on March 10, 2021. |
Use of Estimates | The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates. |
Basic and Diluted Income (Loss) Per Share | The Company computes income (loss) per share in accordance with FASB ASC 260, “Earnings per Share” which requires presentation of both basic and diluted earnings per share on the face of the statement of operations. Basic loss per share is computed by dividing net income (loss) available to common shareholders by the weighted average number of outstanding common shares during the period. Diluted income (loss) per share gives effect to all dilutive potential common shares outstanding during the period. Dilutive loss per share excludes all potential common shares if their effect is anti-dilutive. For the nine months ended September 30, 2021 and 2020, respectively, the following convertible notes were excluded from the computation of diluted net loss per shares as the result of the computation was anti-dilutive: September 30, September 30, 2021 2020 (Shares) (Shares) Convertible notes payable 57,827,097 51,753,097 |
Recent accounting pronouncements | In August 2020, the FASB issued ASU 2020-06, ASC Subtopic 470-20 “ Debt—Debt with Conversion and Other Options |
SUMMARY OF SIGNIFICANT ACCOUN_3
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | |
Schedule of anti-dilutive securities excluded from computation of earnings per share | September 30, September 30, 2021 2020 (Shares) (Shares) Convertible notes payable 57,827,097 51,753,097 |
PROMISSORY NOTES (Tables)
PROMISSORY NOTES (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
PROMISSORY NOTES (Tables) | |
Schedule of promissory notes | September 30, December 31, Expiry Date 2021 2020 Interest Rate Promissory Note - November 2017 Due on demand $ 2,160 $ 2,160 60% per annum Promissory Note - March 2018 3/31/2028 15,296 15,296 30% per annum Promissory Note - June 2018 6/29/2028 12,249 12,249 30% per annum Promissory Note - September 2018 9/29/2028 5,408 5,408 30% per annum Promissory Note - December 2018 12/30/2028 6,137 6,137 30% per annum Promissory Note - March 2019 3/30/2029 7,150 7,150 30% per annum Promissory Note - June 2019 6/30/2029 10,105 10,105 30% per annum Promissory Note - September 2019 9/30/2029 4,081 4,081 30% per annum Promissory Note - December 2019 12/31/2029 6,900 6,900 30% per annum 69,486 69,486 Less current portion of promissory note payable (2,160 ) (2,160 ) Long-term promissory notes payable $ 67,326 $ 67,326 |
CONVERTIBLE NOTES (Tables)
CONVERTIBLE NOTES (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
CONVERTIBLE NOTES (Tables) | |
Schedule of convertible notes | September 30, December 31, Expiry Date 2021 2020 Convertible Notes - July 2017 6/30/2022 $ 116,000 $ 116,000 Convertible Notes - January 2020 Due on demand 8,033 8,033 Convertible Notes - March 2020 Due on demand 4,768 4,768 Convertible Notes - June 2020 Due on demand 13,800 13,800 Convertible Notes - September 2020 Due on demand 7,307 7,307 Convertible Notes - December 2020 Due on demand 6,074 6,074 Less debt discount (1,784 ) (3,584 ) 154,198 152,398 Less current portion of convertible note payable (154,198 ) (39,982 ) Long-term convertible notes payable $ - $ 112,416 |
SUMMARY OF SIGNIFICANT ACCOUN_4
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - shares | 9 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | ||
Convertible notes payable | 57,827,097 | 51,753,097 |
RELATED PARTY TRANSACTIONS (Det
RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($) | Sep. 30, 2021 | Dec. 31, 2020 |
Due to related party | $ 28,480 | $ 0 |
Director [Member] | ||
Due to related party | $ 28,480 |
PROMISSORY NOTES (Details)
PROMISSORY NOTES (Details) - USD ($) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2021 | Dec. 31, 2020 | |
Promissory Note | $ 69,486 | $ 69,486 |
Less current portion of promissory note payable | (2,160) | (2,160) |
Long-term promissory notes payable | 67,326 | 67,326 |
November 2017 [Member] | ||
Promissory Note | $ 2,160 | $ 2,160 |
Interest Rate per annum | 60.00% | 60.00% |
Expiry Date | Due on demand | Due on demand |
March 2018 [Member] | ||
Promissory Note | $ 15,296 | $ 15,296 |
Interest Rate per annum | 30.00% | 30.00% |
Expiry Date | 3/31/2028 | Mar. 31, 2028 |
June 2018 [Member] | ||
Promissory Note | $ 12,249 | $ 12,249 |
Interest Rate per annum | 30.00% | 30.00% |
Expiry Date | 6/29/2028 | Jun. 29, 2028 |
September 2018 [Member] | ||
Promissory Note | $ 5,408 | $ 5,408 |
Interest Rate per annum | 30.00% | 30.00% |
Expiry Date | 9/29/2028 | Sep. 29, 2028 |
December 2018 [Member] | ||
Promissory Note | $ 6,137 | $ 6,137 |
Interest Rate per annum | 30.00% | 30.00% |
Expiry Date | 12/30/2028 | Dec. 30, 2028 |
March 2019 [Member] | ||
Promissory Note | $ 7,150 | $ 7,150 |
Interest Rate per annum | 30.00% | 30.00% |
Expiry Date | 3/30/2029 | Mar. 30, 2029 |
June 2019 [Member] | ||
Promissory Note | $ 10,105 | $ 10,105 |
Interest Rate per annum | 30.00% | 30.00% |
Expiry Date | 6/30/2029 | Jun. 30, 2029 |
September 2019 [Member] | ||
Promissory Note | $ 4,081 | $ 4,081 |
Interest Rate per annum | 30.00% | 30.00% |
Expiry Date | 9/30/2029 | Sep. 30, 2029 |
December 2019 [Member] | ||
Promissory Note | $ 6,900 | $ 6,900 |
Interest Rate per annum | 30.00% | 30.00% |
Expiry Date | 12/31/2029 | Dec. 31, 2029 |
PROMISSORY NOTES (Details Narra
PROMISSORY NOTES (Details Narrative) - USD ($) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2021 | Dec. 31, 2020 | |
PROMISSORY NOTES (Details Narrative) | ||
Accrued interest on promissory notes | $ 62,180 | $ 34,895 |
CONVERTIBLE NOTES (Details)
CONVERTIBLE NOTES (Details) - USD ($) | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2021 | Dec. 31, 2020 | Jun. 30, 2020 | Jan. 02, 2020 | |
Less debt discount | $ (1,784) | $ (3,584) | ||
Convertible note payable | 154,198 | 152,398 | ||
Less current portion of convertible note payable | (154,198) | (39,982) | ||
Long-term convertible notes payable | 0 | 112,416 | ||
January 2020 [Member] | ||||
Convertible note payable | $ 8,033 | $ 8,033 | ||
Expiry Date | Due on demand | Due on demand | ||
January 2020 [Member] | Unaffiliated Party [Member] | ||||
Convertible note payable | $ 17,033 | |||
March 2020 [Member] | ||||
Convertible note payable | $ 4,768 | $ 4,768 | ||
Expiry Date | Due on demand | Due on demand | ||
July 2017 [Member] | ||||
Convertible note payable | $ 116,000 | $ 116,000 | ||
Expiry Date | 6/30/2022 | Jun. 30, 2022 | ||
June 2020 [Member] | ||||
Convertible note payable | $ 13,800 | $ 13,800 | ||
Expiry Date | Due on demand | Due on demand | ||
June 2020 [Member] | Unaffiliated Party [Member] | ||||
Convertible note payable | $ 13,800 | $ 13,800 | ||
September 2020 [Member] | ||||
Convertible note payable | $ 7,307 | $ 7,307 | ||
Expiry Date | Due on demand | Due on demand | ||
December 2020 [Member] | ||||
Convertible note payable | $ 6,074 | $ 6,074 | ||
Expiry Date | Due on demand | Due on demand |
CONVERTIBLE NOTES (Details Narr
CONVERTIBLE NOTES (Details Narrative) - USD ($) | 1 Months Ended | 9 Months Ended | 12 Months Ended | |||||
Mar. 23, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Mar. 04, 2020 | Jan. 02, 2020 | |
Convertible notes payable | $ 154,198 | $ 152,398 | ||||||
Accrued interest payable | 73,080 | 61,684 | ||||||
Original Discount | 1,784 | 3,584 | ||||||
Amortization of debt discount | 1,800 | $ 44,707 | ||||||
Convertible Note | 154,198 | 152,398 | ||||||
Principal amount | 154,198 | 39,982 | ||||||
Debt conversion, amount | $ 69,486 | $ 69,486 | ||||||
Debt conversion, shares | 3,000,000 | |||||||
Common stock Shares | 63,140,557 | 63,140,557 | ||||||
Accrued interest | $ 135,260 | $ 107,565 | ||||||
March 2020 [Member] | ||||||||
Convertible Note | 4,768 | 4,768 | ||||||
Convertible note principal amount | $ 9,000 | |||||||
Principal amount | $ 17,033 | |||||||
Common stock Shares | 3,000,000 | |||||||
Accrued interest | $ 21,073 | |||||||
January 2020 [Member] | ||||||||
Convertible Note | 8,033 | 8,033 | ||||||
June 2020 [Member] | ||||||||
Convertible Note | $ 13,800 | 13,800 | ||||||
July 1, 2017 [Member] | ||||||||
Convertible notes bear interest rate | 4.00% | |||||||
Conversion Price per share | $ 0.005 | |||||||
Convertible note principal amount | $ 34,000 | |||||||
Principal amount | $ 136,000 | |||||||
Expiry date | Jun. 30, 2019 | |||||||
Unaffiliated Party [Member] | March 2020 [Member] | ||||||||
Convertible notes bear interest rate | 30.00% | |||||||
Conversion Price per share | $ 0.001 | |||||||
Debt instrument, debt discount amortized | 4,768 | |||||||
Convertible note principal amount | $ 4,768 | |||||||
Unaffiliated Party [Member] | January 2020 [Member] | ||||||||
Convertible notes bear interest rate | 10.00% | |||||||
Convertible Note | $ 17,033 | |||||||
Conversion Price per share | $ 0.003 | |||||||
Debt instrument, debt discount amortized | 17,033 | |||||||
Promissory note | $ 17,033 | |||||||
Unaffiliated Party [Member] | June 2020 [Member] | ||||||||
Convertible notes bear interest rate | 30.00% | |||||||
Convertible Note | $ 13,800 | $ 13,800 | ||||||
Conversion Price per share | $ 0.001 | |||||||
Debt instrument, debt discount amortized | 13,800 | |||||||
Unaffiliated Party [Member] | September 30 2020 [Member] | ||||||||
Convertible notes bear interest rate | 30.00% | |||||||
Convertible Note | $ 7,307 | |||||||
Conversion Price per share | $ 0.001 | |||||||
Debt instrument, debt discount amortized | $ 7,307 | |||||||
Unaffiliated Party [Member] | December 2020 [Member] | ||||||||
Convertible notes bear interest rate | 30.00% | |||||||
Convertible Note | $ 6,074 | |||||||
Conversion Price per share | $ 0.001 | |||||||
Debt instrument, debt discount amortized | $ 6,074 | |||||||
Four Non-affiliated Holders [Member] | January 2, 2018 [Member] | ||||||||
Conversion Price per share | $ 0.005 | |||||||
Debt conversion, amount | $ 20,000 | |||||||
Debt conversion, shares | 4,000,000 | |||||||
Debt conversion, description | the four non-affiliated holders of the convertible notes elected to convert $5,000 principal portion of their notes for 1,000,000 shares of common stock at $0.005 per share. |
EQUITY (Details Narrative)
EQUITY (Details Narrative) - USD ($) | 1 Months Ended | 9 Months Ended | ||
Mar. 23, 2020 | Mar. 05, 2020 | Sep. 30, 2021 | Dec. 31, 2020 | |
Common stock, shares authorized | 500,000,000 | 500,000,000 | ||
Reverse stock split | a majority of stockholders of our company and board of directors approved a reverse stock split of our issued and outstanding shares of common stock on a basis of up to two hundred (200) old shares for one (1) new share of common stock | |||
Debt conversion, converted instrument, principle | $ 9,000 | |||
Debt conversion, converted instrument, shares | 3,000,000 | |||
Debt conversion, shares price | $ 1.25 | |||
Chief Executive Officer [Member] | ||||
Debt conversion, converted instrument, shares | 60,000,000 | |||
Common stock restricted value | $ 93,000,000 |