Document and Entity Information
Document and Entity Information | 6 Months Ended |
Jun. 30, 2020 | |
Document And Entity Information | |
Entity Registrant Name | Global Boatworks Holdings, Inc. |
Entity Central Index Key | 0001647705 |
Document Type | 8-K/A |
Document Period End Date | Sep. 23, 2020 |
Amendment Flag | true |
Entity Tax Identification Number | 81-0750562 |
Amendment Description | Amendment #2 |
Current Fiscal Year End Date | --12-31 |
Entity Emerging Growth Company | true |
Entity Ex Transition Period | false |
Document Fiscal Period Focus | Q2 |
Document Fiscal Year Focus | 2020 |
Incorporation State | DE |
Entity File Number | 000-55646 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Jun. 30, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
CURRENT ASSETS | |||
Cash | $ 70,618 | $ 96,406 | $ 18,695 |
Accounts receivable | 2,435 | 0 | 0 |
Total current assets | 73,053 | 96,406 | 18,695 |
PROPERTY AND EQUIPMENT | |||
Property and equipment | 2,250 | 2,250 | 0 |
Accumulated depreciation | 581 | 206 | 0 |
Net property and equipment | 1,669 | 2,044 | 0 |
OTHER ASSETS | |||
Intangible assets, net of accumulated amortization | 82,853 | 49,830 | 0 |
Total other assets | 82,853 | 49,830 | 0 |
Total Assets | 157,575 | 148,280 | 18,695 |
CURRENT LIABILITIES | |||
Accounts payable and accrued liabilities | 438,616 | 360,922 | 192,450 |
Short-term convertible debt | 110,000 | 110,000 | 0 |
Liability to issue common stock | 111,989 | 0 | 0 |
Short-term loans and advances from related parties | 13,500 | 13,500 | 8,500 |
Total current liabilities | 674,105 | 484,422 | 200,950 |
LONG TERM LIABILITIES | |||
Long term convertible debt | 415,000 | 305,000 | 100,000 |
SBA Paycheck Protection Program loan | 36,789 | 0 | 0 |
Total long term liabilities | 451,789 | 305,000 | 100,000 |
Total Liabilities | 1,125,894 | 789,422 | 300,950 |
DEFICIENCY IN STOCKHOLDERS' EQUITY | |||
Common stock, par $0.00001, 50,000,000 shares authorized, 16,554,455; 16,554,455 and 7,950,000 shares issued and outstanding at June 30, 2020 and December 31, 2019 and 2018 | 166 | 166 | 80 |
Additional paid-in capital | 174,906 | 174,906 | 717 |
Accumulated deficit | (1,143,391) | (816,213) | (283,052) |
Total deficiency in stockholders' equity | (968,319) | (641,141) | (282,255) |
Total Liabilities and Deficiency in Stockholders' Equity | $ 157,575 | $ 148,281 | $ 18,695 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - $ / shares | Jun. 30, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Statement of Financial Position [Abstract] | |||
Common stock, par value | $ 0.0001 | $ 0.0001 | $ 0.0001 |
Common stock, shares authorized | 50,000,000 | 50,000,000 | 50,000,000 |
Common stock, shares issued | 16,554,455 | 16,554,455 | 7,950,000 |
Common stock, shares outstanding | 16,554,455 | 16,554,455 | 7,950,000 |
Consolidated Statements of Oper
Consolidated Statements of Operations (Unaudited) - USD ($) | 6 Months Ended | 8 Months Ended | 12 Months Ended | |
Jun. 30, 2020 | Jun. 30, 2019 | Dec. 31, 2018 | Dec. 31, 2019 | |
REVENUES | ||||
Revenues | $ 2,435 | $ 0 | $ 0 | $ 0 |
Total Revenues | 2,435 | 0 | 0 | 0 |
OPERATING EXPENSES | ||||
Salaries | 212,740 | 57,558 | 256,292 | 300,895 |
General and administrative | 62,399 | 27,067 | 20,805 | 105,358 |
Depreciation and amortization | 13,232 | 0 | 0 | 5,851 |
Professional fees | 29,142 | 130,370 | 3,500 | 170,525 |
Total operating expenses | 317,513 | 214,995 | 280,597 | 582,629 |
Loss from operations | 315,078 | 214,995 | 280,597 | 582,629 |
Other income (expense) | ||||
Other income | 0 | 0 | 0 | 65,000 |
Interest expense | 12,100 | (4,014) | (2,455) | (15,532) |
Total other income (expense) | 12,100 | (4,014) | (2,455) | 49,468 |
Net loss | $ (327,178) | $ (219,009) | $ (283,052) | $ (533,161) |
Consolidated Statement of Chang
Consolidated Statement of Changes in Stockholders' Deficit (Unaudited) - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | Accumulated Deficit [Member] | Total |
Balance at May. 01, 2018 | $ 80 | $ 717 | $ 0 | $ 797 |
Balance, shares at May. 01, 2018 | 7,950,000 | |||
Shares issued for cash | 0 | |||
Net loss | $ 0 | 0 | (283,052) | (283,052) |
Balance at Dec. 31, 2018 | $ 80 | 717 | (283,052) | (282,255) |
Balance, shares at Dec. 31, 2018 | 7,950,000 | |||
Shares issued for services | $ 64 | 129,906 | 0 | 129,906 |
Shares issued for services, shares | 6,416,998 | |||
Shares issued for cash | $ 10 | 19,990 | 0 | 20,000 |
Shares issued for cash, shares | 987,457 | |||
Net loss | $ 0 | 0 | (219,009) | (219,009) |
Balance at Jun. 30, 2019 | $ 154 | 150,613 | (502,062) | (351,295) |
Balance, shares at Jun. 30, 2019 | 15,354,455 | |||
Balance at Dec. 31, 2018 | $ 80 | 717 | (283,052) | (282,255) |
Balance, shares at Dec. 31, 2018 | 7,950,000 | |||
Shares issued for cash | 20,000 | |||
Net loss | (533,161) | |||
Balance at Dec. 31, 2019 | $ 166 | 174,906 | (816,213) | (641,141) |
Balance, shares at Dec. 31, 2019 | 16,554,455 | |||
Balance at Jun. 30, 2019 | $ 154 | 150,613 | (502,062) | (351,295) |
Balance, shares at Jun. 30, 2019 | 15,354,455 | |||
Shares issued for services | $ 12 | 24,293 | 0 | 24,305 |
Shares issued for services, shares | 1,200,000 | |||
Net loss | (314,151) | (314,151) | ||
Balance at Dec. 31, 2019 | $ 166 | 174,906 | (816,213) | (641,141) |
Balance, shares at Dec. 31, 2019 | 16,554,455 | |||
Shares issued for cash | 0 | |||
Net loss | (327,178) | (327,178) | ||
Balance at Jun. 30, 2020 | $ 166 | $ 174,906 | $ (1,143,391) | $ (968,319) |
Balance, shares at Jun. 30, 2020 | 16,554,455 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 6 Months Ended | 8 Months Ended | 12 Months Ended | |
Jun. 30, 2020 | Jun. 30, 2019 | Dec. 31, 2018 | Dec. 31, 2019 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||||
Net loss | $ (327,178) | $ (219,009) | $ (283,052) | $ (533,161) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||||
Share based compensation | 0 | 129,970 | 797 | 154,275 |
Depreciation and amortization | 13,232 | 0 | 0 | 5,851 |
Changes in operating assets and liabilities | ||||
(Increase) in accounts receivable | (2,435) | (100,000) | 0 | 0 |
Increase in accounts payable and accrued liabilities | 75,541 | 57,496 | 189,995 | 152,938 |
Increase in accrued interest expense | 12,100 | 4,015 | 2,455 | 15,532 |
Net cash provided by operating activities | (228,740) | (127,528) | (89,805) | (204,565) |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||||
Purchase of property, plant and equipment | 0 | 0 | 0 | (2,250) |
Investment in intangible assets | (43,837) | 0 | 0 | (55,474) |
Net cash provided by investing activities | (43,837) | 0 | 0 | (57,724) |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||||
Proceeds from related party advances | 0 | 0 | 8,500 | 5,000 |
Proceeds from third party loans | 210,000 | 110,000 | 100,000 | 315,000 |
Proceeds from SBA Paycheck Protection Program loan | 36,789 | 0 | 0 | 0 |
Common stock issued for cash | 0 | 20,000 | 0 | 20,000 |
Net cash provided by (used in) financing activities | 246,789 | 130,000 | 108,500 | 340,000 |
Net increase in cash | (25,788) | 2,472 | 18,695 | 77,711 |
CASH, beginning of period | 96,406 | 18,695 | 0 | 18,695 |
CASH, end of period | 70,618 | 21,167 | 18,695 | 96,406 |
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION: | ||||
Interest paid in cash | 0 | 0 | 0 | 0 |
Income tax paid in cash | 0 | 0 | 0 | 0 |
Non-Cash Investing and Financing Activities: | ||||
Increase in liability to issue common stock | $ 111,989 | $ 0 | $ 0 | $ 0 |
(1) Nature of Operations
(1) Nature of Operations | 6 Months Ended |
Jun. 30, 2020 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
(1) Nature of Operations | (1) NATURE OF OPERATIONS R3 Score Technologies, Inc., (“the Company”), was formed on May 2, 2018, under the laws of the State of Delaware. The Company has developed a financial analysis tool that uses artificial intelligence, machine learning, and human empathy together to provide an accurate assessment of a person’s credit worthiness and reputation without the bias that is inherent in traditional "scores" used by lenders and employers. The product produces a unique score ranging from 300 to 850, accompanied by a nuanced customer segmentation report that, together, provides actionable information to better align products and services to customers. The products offer more context than traditional criminal background screening tools and/or traditional credit scores. The Company’s products provide decision-makers with more actionable data than what is available on the open market. The products proprietary risk models leverage machine learning and existing cross-sector research in a unique manner for a more robust, holistic view of prospective employees and/or consumers. Activity to date has been focused mostly on the development of the algorithms and unique risk models for the product. |
(2) Basis of Presentation, Use
(2) Basis of Presentation, Use of Estimates and Going Concern | 6 Months Ended |
Jun. 30, 2020 | |
Accounting Policies [Abstract] | |
(2) Basis of Presentation, Use of Estimates and Going Concern | (2) BASIS OF PRESENTATION, USE OF ESTIMATES AND GOING CONCERN a) Basis of Presentation The accompanying financial statements have been prepared in accordance with Generally Accepted Accounting Principles ("GAAP") in the United States of America ("U.S.") as promulgated by the Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") and with the rules and regulations of the U.S. Securities and Exchange Commission ("SEC"). The financial statements reflect all normal recurring adjustments, which, in the opinion of management, are considered necessary for a fair presentation of the results for the periods shown. The results of operations for the periods presented are not necessarily indicative of the results expected for any future period. b) 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 of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates. Significant estimates in the accompanying financial statements involved the valuation of long lived assets, the valuation of common and preferred stock issued as compensation, and valuation allowance on the deferred income tax asset. c) Going Concern The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. The Company has sustained losses since inception and has a working capital deficit, accumulated deficit and deficit in stockholder’s equity of approximately $0.6 million; $1.1 million and $1.0 million at June 30, 2020. These matters raise substantial doubt about the Company’s ability to continue as a going concern for a period of twelve months from the issuance of this report. The Company is expected to have ongoing normal operational expenses as the Company continues to implement its plan of operations. The ability of the Company to continue as a going concern is dependent upon increasing operations, developing sales and obtaining additional capital and financing. The Company is seeking to raise sufficient equity capital to continue its operational plan implementation. The financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern. |
(3) Summary of Significant Acco
(3) Summary of Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2020 | |
Accounting Policies [Abstract] | |
(3) Summary of Significant Accounting Policies | (3) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES a) Cash and cash equivalents The Company considers all highly liquid securities with original maturities of three months or less when acquired, to be cash equivalents. The Company had no financial instruments that qualified as cash equivalents at June 30, 2020; December 31, 2019 and 2018. b) Property and equipment All property and equipment are recorded at cost and depreciated over their estimated useful lives, using the straight-line method. Upon sale or retirement, the cost and related accumulated depreciation are eliminated from their respective accounts, and the resulting gain or loss is included in the results of operations. Repairs and maintenance charges, which do not increase the useful lives of the assets, are charged to operations as incurred. c) Impairment of long-lived assets A long-lived asset is tested for impairment whenever events or changes in circumstances indicate that its carrying value amount may not be recoverable. An impairment loss is recognized when the carrying amount of the asset exceeds the sum of the undiscounted cash flows resulting from its use and eventual disposition. The impairment loss is measured as the amount by which the carrying amount of the long-lived assets exceeds its fair value. d) Financial instruments and Fair value measurements ASC 825-10 “Financial Instruments”, allows entities to voluntarily choose to measure certain financial assets and liabilities at fair value (fair value option). The fair value option may be elected on an instrument-by-instrument basis and is irrevocable, unless a new election date occurs. If the fair value option is elected for an instrument, unrealized gains and losses for that instrument should be reported in earnings at each subsequent reporting date. The Company did not elect to apply the fair value option to any outstanding instruments. ASC 825 also requires disclosures of the fair value of financial instruments. The carrying value of the Company’s current financial instruments, which include cash and cash equivalents, accounts payable, accrued liabilities, loans and convertible debt approximates their fair values because of the short-term maturities of these instruments. FASB ASC 820 “Fair Value Measurement” clarifies that fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. It also requires disclosure about how fair value is determined for assets and liabilities and establishes a hierarchy for which these assets and liabilities must be grouped, based on significant levels of inputs as follows: Level 1: Quoted prices in active markets for identical assets or liabilities. Level 2: Quoted prices in active markets for similar assets and liabilities and inputs that are observable for the asset or liability. Level 3: Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions. The determination of where assets and liabilities fall within this hierarchy is based upon the lowest level of input that is significant to the fair value measurement. e) Revenue recognition Revenue is recognized when earned. Revenue is recognized on a gross basis in accordance with ASC 606. The Company began generating revenue in 2020 via credit/criminal history reports run for individuals, invoiced upon completion. f) Stock compensation for services rendered Stock-based compensation is accounted for based on the requirements of the Share-Based Payment Topic of ASC 718 which requires recognition in the consolidated financial statements of the cost of employee and director services received in exchange for an award of equity instruments over the shorter of period the employee or director is required to perform the services in exchange for the award or the vesting period. The ASC also requires measurement of the cost of employee and director services received in exchange for an award based on the grant-date fair value of the award. The Company adopted ASU 2018-07 on January 1, 2019 and accounts for non-employee share-based awards in accordance with the measurement and recognition criteria of ASC 718. The Company used the modified prospective method of adoption. There was no cumulative effect of adoption on January 1, 2019. The Company estimates the fair value of each stock option at the grant date by using the Black-Scholes option pricing model. g) Income Taxes The Company uses the asset and liability method of ASC 740 to account for income taxes. Under this method, deferred income taxes are determined based on the differences between the tax basis of assets and liabilities and their reported amounts in the consolidated financial statements which will result in taxable or deductible amounts in future years and are measured using the currently enacted tax rates and laws. A valuation allowance is provided to reduce net deferred tax assets to the amount that, based on available evidence, is more likely than not to be realized. The Company follows the provisions of ASC 740-10, Accounting for Uncertain Income Tax Positions. When tax returns are filed, it is highly certain that some positions taken would be sustained upon examination by the taxing authorities, while others are subject to uncertainty about the merits of the position taken or the amount of the position that would be ultimately sustained. In accordance with the guidance of ASC 740-10, the benefit of a tax position is recognized in the financial statements in the period during which, based on all available evidence, management believes it is more likely than not that the position will be sustained upon examination, including the resolution of appeals or litigation processes, if any. Tax positions taken are not offset or aggregated with other positions. Tax positions that meet the more-likely-than-not recognition threshold are measured as the largest amount of tax benefit that is more than 50 percent likely of being realized upon settlement with the applicable taxing authority. The portion of the benefits associated with tax positions taken that exceeds the amount measured as described above should be reflected as a liability for unrecognized tax benefits in the accompanying consolidated balance sheets along with any associated interest and penalties that would be payable to the taxing authorities upon examination. As of June 30, 2020 tax years 2018 and 2019 remain open for IRS audit. The Company has received no notice of audit or any notifications from the IRS for any of the open tax years. h) Convertible Notes With Fixed Rate Conversion Features The Company may issue convertible notes, which are convertible into common shares at a conversion discount to the price of the common stock at the time of conversion. As the discount amount is uncertain, the Company will measure and recognize in earnings the fair value of the conversion discount at the time of conversion. i) Debt issue costs The Company accounts for debt issuance cost paid to lenders, or third parties as debt discounts which are amortized over the life of the underlying debt instrument. j) Leases The Company adopted Accounting Standards Update No. 2016-02: “Lease (Topic 842)” as of January 1, 2019 using the effective date method. As a part of our policy, we have chosen to exclude leases with a lease term of one year or less. Accordingly we have no leases over one year and thus the adoption of this standard did not have any effect on the accompanying consolidated financial statements. k) Recent accounting pronouncements Certain FASB Accounting Standard Updates (“ASU”) that are not effective until after September 30, 2020 are not expected to have a significant effect on the Company’s consolidated financial position or results of operations. |
(4) Property and Equipment
(4) Property and Equipment | 6 Months Ended |
Jun. 30, 2020 | |
PROPERTY AND EQUIPMENT | |
(4) Property and Equipment | (4) PROPERTY AND EQUIPMENT Property and Equipment consists of the following: June 30, 2020 December 31, 2019 December 31, 2018 Equipment 2,250 2,250 - Less: accumulated depreciation (581) (207) - Total 1,669 2,043 - The Company capitalized the cost of equipment purchased and is amortizing the cost over their estimated useful life of three years, beginning September 2019. Depreciation expense was $375; $206 and $0 for the six months ended June 30, 2020; the year ended December 31, 2019, and the period since inception (May 2, 2018) ended December 31, 2018, respectively. |
(5) Intangible Assets
(5) Intangible Assets | 6 Months Ended |
Jun. 30, 2020 | |
Loan Agreement [Member] | |
(5) Intangible Assets | (5) INTANGIBLE ASSETS Intangible assets consists of the following: June 30, 2020 December 31, 2019 December 31, 2018 Software $ 93,161 52,474 - Website 8,400 3,000 Less: accumulated amortization (18,708) (5,645) - Total $ 82,853 49,829 - Amortization expense was $12,857; $5,645 and $0 for the six months ended June 30, 2020; the year ended December 31, 2019, and the period since inception (May 2, 2018) ended December 31, 2018, respectively. Amortization expense will be $15,992 for the second six months 2020; $31,984; $26,424; $4,860; $1,775 and $0 for the years ended December 31, 2021; 2022, 2023, 2024 and 2025, respectively. |
(6) Accrued Expenses
(6) Accrued Expenses | 6 Months Ended |
Jun. 30, 2020 | |
Payables and Accruals [Abstract] | |
(6) Accrued Expenses | (6) ACCRUED EXPENSES The major components of accrued expenses are: June 30, 2020 December 31, 2019 Accrued officer pay $ 462,979 $ 342,035 Accrued professional fees - related party 128,405 128,405 Accrued professional fees - third party 384,000 384,000 Other 14,200 67,200 Total accrued expenses $ 989,584 $ 921,640 |
(7) Convertible Notes
(7) Convertible Notes | 6 Months Ended |
Jun. 30, 2020 | |
Debt Disclosure [Abstract] | |
(7) Convertible Notes | (7) CONVERTIBLE NOTES Convertible indebtedness was, as follows: June 30, 2020 December 31, 2019 December 31, 2018 Note 1 $ - $ 100,000 $ 100,000 Note 2 10,000 10,000 - Note 3 100,000 100,000 - Note 4 15,000 15,000 - Note 5 42,500 42,500 - Note 6 57,500 57,500 - Note 7 50,000 50,000 - Note 8 25,000 25,000 - Note 9 200,000 - - Note 10 10,000 - - Total convertible notes 510,000 400,000 100,000 Less current maturities (110,000) (110,000) - Long term portion $ 400,000 $ 290,000 $ 100,000 NOTE 1: On September 18, 2018, the Company entered into an eighteen month loan agreement in the amount of $100,000 with a third party. The note bears interest at the rate of 8%. At maturity, March 17, 2020 the note converted plus accrued interest of $11,989 by contract into 1,439,518 shares of the Company’s common stock. ($0.078 per share) NOTE 2: On April 18, 2019, the Company entered into an eighteen month loan agreement in the amount of $10,000 with a third party. The note bears interest at the rate of 8%. At June 30, 2020, this note has accrued interest of $962. The note is convertible into 109,365 shares of the Company’s common stock. ($0.091 per share) NOTE 3: On June 27, 2019, the Company entered into a two year loan agreement in the amount of $100,000 with a third party. The note bears interest at the rate of 5%. At June 30, 2020, this note has accrued interest of $5,055. This note is convertible into 1,125,235 shares of the Company’s common stock. ($0.089 per share) NOTE 4: On July 1, 2019, the Company entered into a two year loan agreement in the amount of $15,000 with a third party. The note bears interest at the rate of 5%. At June 30, 2020, this note has accrued interest of $750. This note is convertible into 168,699 shares of the Company’s common stock. ($0.089 per share) NOTE 5: On July 12, 2019, the Company entered into a two year loan agreement in the amount of $42,500 with a third party. The note bears interest at the rate of 5% . At June 30, 2020, this note has accrued interest of $2,061. This note is convertible into 477,305 shares of the Company’s common stock. ($0.089 per share) NOTE 6: On July 12, 2019, the Company entered into a two year loan agreement in the amount of $57,500 with a third party. The note bears interest at the rate of 5%. At June 30, 2020, this note has accrued interest of $2,788. This note is convertible into 645,766 shares of the Company’s common stock. ($0.089 per share) NOTE 7: On August 27, 2019, the Company entered into a two year loan agreement in the amount of $50,000 with a third party. The note bears interest at the rate of 5%. At June 30, 2020, this note has accrued interest of $2,110. This note is convertible into 559,556 shares of the Company’s common stock. ($0.089 per share) NOTE 8: On October 1, 2019, the Company entered into a two year loan agreement in the amount of $25,000 with a third party. The note bears interest at the rate of 5%. At June 30, 2020, this note has accrued interest of $925. This note is convertible into 277,739 shares of the Company’s common stock. ($0.09 per share) NOTE 9: On March 25, 2020, the Company entered into a two year loan agreement in the amount of $200,000 with a third party. The note bears interest at the rate of 5%. At June 30, 2020, this note has accrued interest of $2,658. This note is convertible into 1,302,971 shares of the Company’s common stock. ($0.156 per share) NOTE 10: On April 9, 2020, the Company entered into a two year loan agreement in the amount of $10,000 with a third party. The note bears interest at the rate of 5%. At June 30, 2020, this note has accrued interest of $126. This note is convertible into 65,019 shares of the Company’s common stock. ($0.156 per share) The Convertible debt matures $10,000 in 2020; $290,000 in 2021, $210,000 in 2022 and $0 thereafter. |
(8) Related Party Transactions
(8) Related Party Transactions | 6 Months Ended |
Jun. 30, 2020 | |
Debt Disclosure [Abstract] | |
(8) Related Party Transactions | (8) RELATED PARTY TRANSACTIONS a) Short term loans During the period ended December 31, 2018, the CEO advanced $8,500 to the Company under an undocumented advance which carries no interest and has no stated maturity. During the year ended December 31, 2019, the CEO advanced an additional $5,000 under this undocumented advance. b) Accounts payable and accrued expenses The majority of accounts payable and accrued expense balances are owed to related parties, principally the co-founders of the Company. |
(9) Liability to Issue Common S
(9) Liability to Issue Common Shares | 6 Months Ended |
Jun. 30, 2020 | |
Debt Disclosure [Abstract] | |
(9) Liability to Issue Common Shares | (9) LIABILITY TO ISSUE COMMON SHARES In March 2020, a convertible note matured in the amount of $100,000 plus accrued interest of $11,989.04. By contract this note is convertible into 1,439,518 shares of common stock. As the shares have not yet been issued, they are accounted for as a liability to issue shares. |
(10) Commitments and Contingenc
(10) Commitments and Contingencies | 6 Months Ended |
Jun. 30, 2020 | |
Commitments and Contingencies Disclosure [Abstract] | |
(10) Commitments and Contingencies | (10) COMMITMENTS AND CONTINGENCIES a) Leases The Company occupies approximately four hundred (400) square feet of office space without charge at the residence of our Chief Executive Officer. d) Legal Matters From time to time, we may be involved in litigation relating to claims arising out of our operations in the normal course of business. As of September 30, 2020, there were no pending or threatened lawsuits that could reasonably be expected to have a material effect on the results of our operations. |
(11) Stockholders' Equity
(11) Stockholders' Equity | 6 Months Ended |
Jun. 30, 2020 | |
Stockholders' Equity Note [Abstract] | |
(11) STOCKHOLDERS' EQUITY | (11) STOCKHOLDERS’ EQUITY At June 30, 2020; December 31, 2019 and 2018, the Company has 50,000,000 shares of par value $0.00001 common stock authorized and 16,554,455; 16,554,455 and 7,950,000 issued and outstanding, respectively. In the third quarter 2019, the Company issued 1,200,000 shares of common stock in exchange for services valued at $24,305, or $0.02 per share. In the second quarter 2019, the Company issued 2,416,998 shares of common stock in exchange for services valued at $48,954, or $0.02 per share. The Company also issued 987,457 shares of common stock in exchange for $20,000 cash, or $0.02 per share. In the first quarter 2019, the Company issued 4,000,000 shares of common stock in exchange for services valued at $81,016, or $0.02 per share. In the third quarter 2018, the Company issued 7,950,000 shares of common stock in exchange for founders services valued at $797, or $0.001 per share. |
(12) Other Income
(12) Other Income | 6 Months Ended |
Jun. 30, 2020 | |
Other Income and Expenses [Abstract] | |
(12) Other Income | (12) OTHER INCOME In 2019, the Company entered a contest whereby they presented their concept in front of a panel of judges. The Company was awarded First Place with the concurrent prize of $65,000. |
(13) Income Taxes
(13) Income Taxes | 12 Months Ended |
Dec. 31, 2019 | |
Income Tax Disclosure [Abstract] | |
(13) Income Taxes | (13) INCOME TAXES The Company recognizes deferred tax assets and liabilities for the tax effects of differences between the financial statements and tax basis of assets and liabilities. A valuation allowance is established to reduce the deferred tax assets if it is more likely than not that a deferred tax asset will not be realized. The components of income tax provision (benefit) related to continuing operations are as follows at December 31: 2019 2018 Current $ - $ - Deferred $ - $ - Total tax provisions $ - $ - The following is a reconciliation of the effective income tax rate with the statutory income tax rate at December 31: 2019 2018 U.S. Federal statutory income tax rate (21)% (21)% State income tax, net of federal benefit (1.83)% (1.83)% Other temporary differences, net - - Valuation allowance 22.6% 22.6% 0.0% 0.0% The net deferred tax assets and liabilities included in the financial statements consist of the following amounts at December 31: 2019 2018 Deferred tax assets: Net operating loss carry forwards $ 145,392 $ 64,309 Stock based compensation 35,398 182 Other 4,906 - Total 185,696 64,491 Deferred tax liabilities: (11,376) - Less: valuation allowance (174,320) (64,491) Net deferred tax assets $ - $ - The change in valuation allowance was $109,829 and $64,491 for the periods ended December 31, 2019 and 2018, respectively. We have recorded a 100% valuation allowance related to the deferred tax asset for the loss from operations. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the period in which temporary differences become deductible. In accordance with the provisions of ASC 740: Income Taxes, we record a liability for uncertain tax positions when it is probable that a loss has been incurred and the amount can be reasonably estimated. At December 31, 2019 and 2018, we have no liabilities for uncertain tax positions. We continually evaluate expiring statutes of limitations, audits, proposed settlements, changes in tax law and new authoritative rulings. |
(14) Concentrations of Risk
(14) Concentrations of Risk | 6 Months Ended |
Jun. 30, 2020 | |
Risks and Uncertainties [Abstract] | |
(14) Concentrations of Risk | (14) CONCENTRATIONS OF RISK The Company maintains its cash in bank deposit accounts, which may, at times, may exceed federally insured limits. The Company had no cash balances in excess of FDIC insured limits at June 30, 2020; December 31, 2019 and 2018, respectively. |
(15) Covid-19 Pandemic
(15) Covid-19 Pandemic | 6 Months Ended |
Jun. 30, 2020 | |
Proceeds from officer advances | |
(15) Covid-19 Pandemic | (15) COVID-19 PANDEMIC The Company’s management is unable to predict the full impact of COVID-19 on the Company. The corona virus pandemic and subsequent State of Maryland ordered shut down did not have a significant effect upon the Company’s operations. The Company’s access to capital was moderately curtailed, during the pandemic. The Company, as yet, does not know what the ultimate consequences of the pandemic will be upon its business model. Because of COVID-19 and the uncertainty surrounding economic conditions moving forward the Company cannot predict the full impact, although it has had only a moderate impact to date. The Company’s staff was already working remotely prior to the onset of the pandemic. |
(16) Subsequent Events
(16) Subsequent Events | 6 Months Ended |
Jun. 30, 2020 | |
Subsequent Events [Abstract] | |
(16) Subsequent Events | (16) SUBSEQUENT EVENTS a) Convertible Notes Subsequent to June 30, 2020, the Company entered into the following eight convertible notes: NOTE 11: On July 3, 2020, the company entered into a two year loan agreement in the amount of $12,000 with a third party. The note bears interest at the rate of 5%. This note is convertible into 77,140 shares of the Company’s common stock. NOTE 12: On July 8, 2020, the company entered into a two year loan agreement in the amount of $25,000 with a third party. The note bears interest at the rate of 5%. This note is convertible into 160,600 shares of the Company’s common stock. NOTE 13: On July 16, 2020, the company entered into a two year loan agreement in the amount of $60,000 with a third party. The note bears interest at the rate of 5%. This note is convertible into 385,025 shares of the Company’s common stock. NOTE 14: On July 16, 2020, the company entered into a two year loan agreement in the amount of $50,000 with a third party. The note bears interest at the rate of 5%. This note is convertible into 320,854 shares of the Company’s common stock. NOTE 15: On August 14, 2020, the company entered into a two year loan agreement in the amount of $25,000 with a third party. The note bears interest at the rate of 5%. This note is convertible into 159,800 shares of the Company’s common stock. NOTE 16: On September 15, 2020, the company entered into a two year loan agreement in the amount of $10,000 with a third party. The note bears interest at the rate of 5%. This note is convertible into 105,283 shares of the Company’s common stock. NOTE 17: On September 15, 2020, the company entered into a two year loan agreement in the amount of $20,000 with a third party. The note bears interest at the rate of 5%. This note is convertible into 12,574 shares of the Company’s common stock. NOTE 18: On September 22, 2020, the company entered into a two year loan agreement in the amount of $5,000 with a third party. The note bears interest at the rate of 5%. This note is convertible into 52,642 shares of the Company’s common stock. b) Merger with Global Boatworks Holdings, Inc. On September 4, 2020, we entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Global Boatworks Holdings, Inc., a Florida corporation. Upon completion of the merger, our shareholders will collectively own, as a group, on a fully diluted basis approximately 81% of the combined company. The Merger Agreement was consummated on September 23, 2020. |
(2) Basis of Presentation, Us_2
(2) Basis of Presentation, Use of Estimates and Going Concern (Policies) | 6 Months Ended |
Jun. 30, 2020 | |
Accounting Policies [Abstract] | |
Basis of Presentation and Principles of Consolidation | a) Basis of Presentation The accompanying financial statements have been prepared in accordance with Generally Accepted Accounting Principles ("GAAP") in the United States of America ("U.S.") as promulgated by the Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") and with the rules and regulations of the U.S. Securities and Exchange Commission ("SEC"). The financial statements reflect all normal recurring adjustments, which, in the opinion of management, are considered necessary for a fair presentation of the results for the periods shown. The results of operations for the periods presented are not necessarily indicative of the results expected for any future period. |
Use of Estimates | b) 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 of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates. Significant estimates in the accompanying financial statements involved the valuation of long lived assets, the valuation of common and preferred stock issued as compensation, and valuation allowance on the deferred income tax asset. |
Going Concern | c) Going Concern The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. The Company has sustained losses since inception and has a working capital deficit, accumulated deficit and deficit in stockholder’s equity of approximately $0.6 million; $1.1 million and $1.0 million at June 30, 2020. These matters raise substantial doubt about the Company’s ability to continue as a going concern for a period of twelve months from the issuance of this report. The Company is expected to have ongoing normal operational expenses as the Company continues to implement its plan of operations. The ability of the Company to continue as a going concern is dependent upon increasing operations, developing sales and obtaining additional capital and financing. The Company is seeking to raise sufficient equity capital to continue its operational plan implementation. The financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern. |
(3) Summary of Significant Ac_2
(3) Summary of Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2020 | |
Accounting Policies [Abstract] | |
Cash and Cash Equivalents | a) Cash and cash equivalents The Company considers all highly liquid securities with original maturities of three months or less when acquired, to be cash equivalents. The Company had no financial instruments that qualified as cash equivalents at June 30, 2020; December 31, 2019 and 2018. |
Property and Equipment | b) Property and equipment All property and equipment are recorded at cost and depreciated over their estimated useful lives, using the straight-line method. Upon sale or retirement, the cost and related accumulated depreciation are eliminated from their respective accounts, and the resulting gain or loss is included in the results of operations. Repairs and maintenance charges, which do not increase the useful lives of the assets, are charged to operations as incurred. |
Impairment of Long-lived Assets | c) Impairment of long-lived assets A long-lived asset is tested for impairment whenever events or changes in circumstances indicate that its carrying value amount may not be recoverable. An impairment loss is recognized when the carrying amount of the asset exceeds the sum of the undiscounted cash flows resulting from its use and eventual disposition. The impairment loss is measured as the amount by which the carrying amount of the long-lived assets exceeds its fair value. |
Financial Instruments and Fair Value Measurements | d) Financial instruments and Fair value measurements ASC 825-10 “Financial Instruments”, allows entities to voluntarily choose to measure certain financial assets and liabilities at fair value (fair value option). The fair value option may be elected on an instrument-by-instrument basis and is irrevocable, unless a new election date occurs. If the fair value option is elected for an instrument, unrealized gains and losses for that instrument should be reported in earnings at each subsequent reporting date. The Company did not elect to apply the fair value option to any outstanding instruments. ASC 825 also requires disclosures of the fair value of financial instruments. The carrying value of the Company’s current financial instruments, which include cash and cash equivalents, accounts payable, accrued liabilities, loans and convertible debt approximates their fair values because of the short-term maturities of these instruments. FASB ASC 820 “Fair Value Measurement” clarifies that fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. It also requires disclosure about how fair value is determined for assets and liabilities and establishes a hierarchy for which these assets and liabilities must be grouped, based on significant levels of inputs as follows: Level 1: Quoted prices in active markets for identical assets or liabilities. Level 2: Quoted prices in active markets for similar assets and liabilities and inputs that are observable for the asset or liability. Level 3: Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions. The determination of where assets and liabilities fall within this hierarchy is based upon the lowest level of input that is significant to the fair value measurement. |
Revenue Recognition | e) Revenue recognition Revenue is recognized when earned. Revenue is recognized on a gross basis in accordance with ASC 606. The Company began generating revenue in 2020 via credit/criminal history reports run for individuals, invoiced upon completion. |
Stock Compensation for Services Rendered | f) Stock compensation for services rendered Stock-based compensation is accounted for based on the requirements of the Share-Based Payment Topic of ASC 718 which requires recognition in the consolidated financial statements of the cost of employee and director services received in exchange for an award of equity instruments over the shorter of period the employee or director is required to perform the services in exchange for the award or the vesting period. The ASC also requires measurement of the cost of employee and director services received in exchange for an award based on the grant-date fair value of the award. The Company adopted ASU 2018-07 on January 1, 2019 and accounts for non-employee share-based awards in accordance with the measurement and recognition criteria of ASC 718. The Company used the modified prospective method of adoption. There was no cumulative effect of adoption on January 1, 2019. The Company estimates the fair value of each stock option at the grant date by using the Black-Scholes option pricing model. |
Income Taxes | g) Income Taxes The Company uses the asset and liability method of ASC 740 to account for income taxes. Under this method, deferred income taxes are determined based on the differences between the tax basis of assets and liabilities and their reported amounts in the consolidated financial statements which will result in taxable or deductible amounts in future years and are measured using the currently enacted tax rates and laws. A valuation allowance is provided to reduce net deferred tax assets to the amount that, based on available evidence, is more likely than not to be realized. The Company follows the provisions of ASC 740-10, Accounting for Uncertain Income Tax Positions. When tax returns are filed, it is highly certain that some positions taken would be sustained upon examination by the taxing authorities, while others are subject to uncertainty about the merits of the position taken or the amount of the position that would be ultimately sustained. In accordance with the guidance of ASC 740-10, the benefit of a tax position is recognized in the financial statements in the period during which, based on all available evidence, management believes it is more likely than not that the position will be sustained upon examination, including the resolution of appeals or litigation processes, if any. Tax positions taken are not offset or aggregated with other positions. Tax positions that meet the more-likely-than-not recognition threshold are measured as the largest amount of tax benefit that is more than 50 percent likely of being realized upon settlement with the applicable taxing authority. The portion of the benefits associated with tax positions taken that exceeds the amount measured as described above should be reflected as a liability for unrecognized tax benefits in the accompanying consolidated balance sheets along with any associated interest and penalties that would be payable to the taxing authorities upon examination. As of June 30, 2020 tax years 2018 and 2019 remain open for IRS audit. The Company has received no notice of audit or any notifications from the IRS for any of the open tax years. |
Convertible Notes with Fixed Rate Conversion Features | h) Convertible Notes With Fixed Rate Conversion Features The Company may issue convertible notes, which are convertible into common shares at a conversion discount to the price of the common stock at the time of conversion. As the discount amount is uncertain, the Company will measure and recognize in earnings the fair value of the conversion discount at the time of conversion. |
Debt Issue Costs | i) Debt issue costs The Company accounts for debt issuance cost paid to lenders, or third parties as debt discounts which are amortized over the life of the underlying debt instrument. |
Leases | j) Leases The Company adopted Accounting Standards Update No. 2016-02: “Lease (Topic 842)” as of January 1, 2019 using the effective date method. As a part of our policy, we have chosen to exclude leases with a lease term of one year or less. Accordingly we have no leases over one year and thus the adoption of this standard did not have any effect on the accompanying consolidated financial statements. |
Recent Accounting Pronouncements | k) Recent accounting pronouncements Certain FASB Accounting Standard Updates (“ASU”) that are not effective until after September 30, 2020 are not expected to have a significant effect on the Company’s consolidated financial position or results of operations. |
(4) Property and Equipment (Tab
(4) Property and Equipment (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
PROPERTY AND EQUIPMENT | |
Schedule of Property, Plant and Equipment | June 30, 2020 December 31, 2019 December 31, 2018 Equipment 2,250 2,250 - Less: accumulated depreciation (581) (207) - Total 1,669 2,043 - |
(5) Intangible Assets (Tables)
(5) Intangible Assets (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Loan Agreement [Member] | |
Intangible Assets | June 30, 2020 December 31, 2019 December 31, 2018 Software $ 93,161 52,474 - Website 8,400 3,000 Less: accumulated amortization (18,708) (5,645) - Total $ 82,853 49,829 - |
(6) Accrued Liabilities (Tables
(6) Accrued Liabilities (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Payables and Accruals [Abstract] | |
Schedule of Major Components of Accrued Expenses | June 30, 2020 December 31, 2019 Accrued officer pay $ 462,979 $ 342,035 Accrued professional fees - related party 128,405 128,405 Accrued professional fees - third party 384,000 384,000 Other 14,200 67,200 Total accrued expenses $ 989,584 $ 921,640 |
(7) Convertible Notes (Tables)
(7) Convertible Notes (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Debt Disclosure [Abstract] | |
Schedule of Short Term Convertible Debt | June 30, 2020 December 31, 2019 December 31, 2018 Note 1 $ - $ 100,000 $ 100,000 Note 2 10,000 10,000 - Note 3 100,000 100,000 - Note 4 15,000 15,000 - Note 5 42,500 42,500 - Note 6 57,500 57,500 - Note 7 50,000 50,000 - Note 8 25,000 25,000 - Note 9 200,000 - - Note 10 10,000 - - Total convertible notes 510,000 400,000 100,000 Less current maturities (110,000) (110,000) - Long term portion $ 400,000 $ 290,000 $ 100,000 |
(13) Income Taxes (Tables)
(13) Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Income Tax Disclosure [Abstract] | |
Schedule Of Components Of Income Tax Expense Benefit | 2019 2018 Current $ - $ - Deferred $ - $ - Total tax provisions $ - $ - |
Effective income tax rate with the statutory income tax rate | 2019 2018 U.S. Federal statutory income tax rate (21)% (21)% State income tax, net of federal benefit (1.83)% (1.83)% Other temporary differences, net - - Valuation allowance 22.6% 22.6% 0.0% 0.0% |
Net deferred tax assets and liabilities | 2019 2018 Deferred tax assets: Net operating loss carry forwards $ 145,392 $ 64,309 Stock based compensation 35,398 182 Other 4,906 - Total 185,696 64,491 Deferred tax liabilities: (11,376) - Less: valuation allowance (174,320) (64,491) Net deferred tax assets $ - $ - |
(2) Basis of Presentation, Us_3
(2) Basis of Presentation, Use of Estimates and Going Concern (Details Narrative) - USD ($) | 6 Months Ended | 8 Months Ended | 12 Months Ended | |||
Jun. 30, 2020 | Dec. 31, 2019 | Jun. 30, 2019 | Dec. 31, 2018 | Dec. 31, 2019 | May 01, 2018 | |
Accounting Policies [Abstract] | ||||||
Working capital deficit | $ 600,000 | |||||
Accumulated deficit | (1,143,391) | $ (816,213) | $ (283,052) | $ (816,213) | ||
Total stockholders' (deficit) | (968,319) | (641,141) | $ (351,295) | (282,255) | (641,141) | $ 797 |
Net loss | $ (327,178) | $ (314,151) | $ (219,009) | $ (283,052) | $ (533,161) |
(3) Summary of Significant Ac_3
(3) Summary of Significant Accounting Policies (Details Narrative) - USD ($) | 6 Months Ended | |||
Jun. 30, 2020 | Jun. 30, 2019 | Dec. 31, 2019 | Dec. 31, 2018 | |
Income taxes, tax years open for IRS audit | 2016 2016 2018 | |||
Short term notes | $ 13,500 | $ 13,500 | $ 8,500 | |
Accrued liabilities | $ 64,465 | $ 39,479 | $ 2,455 | |
Global Boatworks, LLC [Member] | ||||
Income taxes, tax years open for IRS audit | 2016 2016 2018 |
(3) Summary of Significant Ac_4
(3) Summary of Significant Accounting Policies - Schedule of Embedded Derivative Liability (Details) - USD ($) | Jun. 30, 2020 | Dec. 31, 2019 |
Accounting Policies [Abstract] | ||
Level 3 Derivative Liability | $ 92,337 | $ 38,361 |
(4) Property and Equipment (Det
(4) Property and Equipment (Details Narrative) - USD ($) | 6 Months Ended | 8 Months Ended | 12 Months Ended |
Jun. 30, 2020 | Dec. 31, 2018 | Dec. 31, 2019 | |
Useful life of the asset | 3 years | ||
Depreciation Expense | $ 375 | $ 0 | $ 206 |
(4) Property and Equipment - Sc
(4) Property and Equipment - Schedule of Property and Equipment (Details) - USD ($) | Jun. 30, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
PROPERTY AND EQUIPMENT | |||
Equipment | $ 2,250 | $ 2,250 | $ 0 |
Less: accumulated depreciation | 581 | 206 | 0 |
Total | $ 1,669 | $ 2,044 | $ 0 |
(5) Intangible Assets (Details)
(5) Intangible Assets (Details) - USD ($) | Jun. 30, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Debt Disclosure [Abstract] | |||
Software | $ 93,161 | $ 52,474 | $ 0 |
Website | 8,400 | 3,000 | 0 |
Less: accumulated amortization | 18,708 | 5,645 | 0 |
Total | $ 82,853 | $ 49,830 | $ 0 |
(6) Accrued Liabilities - Sched
(6) Accrued Liabilities - Schedule of Major Components of Accrued Expenses (Details) - USD ($) | Jun. 30, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Payables and Accruals [Abstract] | |||
Payroll liabilities | $ 47,031 | $ 21,492 | $ 0 |
Accrued interest | 17,434 | 17,987 | 2,455 |
Total accrued expenses | $ 64,465 | $ 39,479 | $ 2,455 |
(7) Short Term Loans and Short
(7) Short Term Loans and Short Term Convertible Notes (Details Narrative) - USD ($) | 6 Months Ended | 8 Months Ended | 12 Months Ended | |
Jun. 30, 2020 | Jun. 30, 2019 | Dec. 31, 2018 | Dec. 31, 2019 | |
Debt Disclosure [Abstract] | ||||
Number of common stock issued, value | $ 0 | $ 20,000 | $ 0 | $ 20,000 |
Interest paid | 0 | $ 0 | 0 | 0 |
Short term debt | 13,500 | $ 8,500 | $ 13,500 | |
Accrued interest | $ 11,989 | |||
Common stock, par value | $ 0.0001 | $ 0.0001 | $ 0.0001 |
(7) Short Term Loans and Shor_2
(7) Short Term Loans and Short Term Convertible Notes - Schedule of Short Term Debt (Details) - USD ($) | Jun. 30, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Debt Disclosure [Abstract] | |||
Short term notes | $ 13,500 | $ 13,500 | $ 8,500 |
Less: unamortized debt discounts |
(7) Short Term Loans and Shor_3
(7) Short Term Loans and Short Term Convertible Notes - Schedule of Short Term Convertible Debt (Details) - USD ($) | Jun. 30, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Debt Disclosure [Abstract] | |||
Total convertible notes, net | $ 110,000 | $ 110,000 | $ 0 |
(8) Related Party Transactions
(8) Related Party Transactions (Details Narrative) - USD ($) | 11 Months Ended | 12 Months Ended |
Dec. 12, 2018 | Dec. 31, 2019 | |
CEO [Member] | ||
Proceeds from related party | $ 8,500 | $ 5,000 |
(9) Liability to Issue Common_2
(9) Liability to Issue Common Shares (Details Narrative) | Jun. 30, 2020USD ($)shares |
Debt Disclosure [Abstract] | |
Loans payable | $ 100,000 |
Debt interest | $ 11,989 |
Liability to issue shares | shares | 1,439,518 |
(10) Commitments and Continge_2
(10) Commitments and Contingencies (Details Narrative) | Sep. 05, 2017USD ($) | May 19, 2017USD ($)shares | Jan. 02, 2017shares | Nov. 01, 2016USD ($)shares | Aug. 31, 2016USD ($)shares | May 31, 2015USD ($)shares | Jun. 30, 2020USD ($)ft²shares | Jun. 30, 2019USD ($)shares | Dec. 31, 2018USD ($) | Dec. 31, 2019USD ($) | May 01, 2018USD ($) | Mar. 31, 2018USD ($) | Jan. 02, 2018shares |
Accrued liabilities | $ | $ 5,050 | ||||||||||||
Shares issued during period related to accrued liabilities | shares | 8,000 | ||||||||||||
Lease rent per month | $ | $ 2,500 | ||||||||||||
Lease termination date | Oct. 31, 2018 | ||||||||||||
Area of land | ft² | 400 | ||||||||||||
Officers compensation | $ | $ 515,000 | ||||||||||||
Vesting period | 1 year | ||||||||||||
Common stock discount rate | 0.00% | ||||||||||||
Common stock to be issued | shares | 1,000 | ||||||||||||
Number of shares per month | shares | 172 | ||||||||||||
Professional fees | $ | 480,000 | $ 29,142 | $ 130,370 | $ 3,500 | $ 170,525 | ||||||||
Cash and cash equivalents | $ | $ 70,618 | $ 21,167 | $ 18,695 | $ 96,406 | $ 0 | $ 781 | |||||||
Two Year Consulting Agreement [Member] | |||||||||||||
Proceeds from common stock | $ | $ 8,000 | ||||||||||||
Number of restricted common shares | shares | 5,000 | ||||||||||||
Common stock discount rate | 40.00% | ||||||||||||
Professional fees | $ | 120,000 | ||||||||||||
Consulting expenses for services | $ | $ 145,000 | ||||||||||||
Three Year Employment Agreement [Member] | |||||||||||||
Officers compensation | $ | $ 577,700 | ||||||||||||
Restricted Stock [Member] | |||||||||||||
Number of restricted common shares | shares | 3,100 | ||||||||||||
Common stock discount rate | 50.00% | ||||||||||||
May 22, 2018 [Member] | Three Month Consulting Agreement [Member] | |||||||||||||
Number of common stock shares issued during period | shares | 1,000 | ||||||||||||
April 6, 2018 [Member] | Consulting Agreement [Member] | |||||||||||||
Number of common stock shares issued during period | shares | 6,000 | ||||||||||||
January 1, 2018 [Member] | Three Year Consulting Agreement [Member] | |||||||||||||
Number of common stock shares issued during period | shares | 1,000 | ||||||||||||
July 1, 2017 [Member] | Three Year Consulting Agreement [Member] | |||||||||||||
Number of common stock shares issued during period | shares | 1,000 | ||||||||||||
Robert Rowe [Member] | Restricted Stock [Member] | Three Year Employment Agreement [Member] | |||||||||||||
Proceeds from common stock | $ | $ 20,000 | ||||||||||||
Number of restricted common shares | shares | 10,000 | ||||||||||||
Former Officer and Director [Member] | |||||||||||||
Proceeds from common stock | $ | $ 55,000 | ||||||||||||
Number of common stock in exchange | shares | 1,500 | ||||||||||||
Number of shares received | shares | 330 | ||||||||||||
Former Officer and Director [Member] | Restricted Stock [Member] | |||||||||||||
Number of restricted common shares | shares | 425 | ||||||||||||
Number of restricted shares, value | $ | $ 70,000 | ||||||||||||
Oceanside Equities Inc [Member] | |||||||||||||
Accrued liabilities | $ | $ 304,000 | ||||||||||||
Common stock discount rate | 50.00% | ||||||||||||
Number of shares per month | shares | 172 | ||||||||||||
Professional fees | $ | $ 480,000 |
(11) Stockholders' Equity (Deta
(11) Stockholders' Equity (Details Narrative) - $ / shares | Jun. 30, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Stockholders' Equity Note [Abstract] | |||
Common stock, shares authorized | 50,000,000 | 50,000,000 | 50,000,000 |
Common stock, par value | $ 0.0001 | $ 0.0001 | $ 0.0001 |
Common stock, shares issued | 16,554,455 | 16,554,455 | 7,950,000 |
Common stock, shares outstanding | 16,554,455 | 16,554,455 | 7,950,000 |
(13) Income Taxes - Effective I
(13) Income Taxes - Effective Income Tax Rate (Details) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Income Tax Disclosure [Abstract] | ||
U.S. Federal statutory income tax rate | 21.00% | 21.00% |
State income tax, net of federal benefit | 1.83% | 1.83% |
Others | 0.00% | 0.00% |
Valuation allowance | 22.60% | 22.60% |
Effective tax rate | 0.00% | 0.00% |
(13) Income Taxes - Deferred Ta
(13) Income Taxes - Deferred Tax Assets (Details) - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 |
Deferred Tax Assets | ||
Net operating loss carry forwards | $ 145,392 | $ 64,309 |
Stock based compensation | 35,398 | 182 |
Other | 4,906 | 0 |
Total deferred tax asset | 185,696 | 64,491 |
Deferred tax liabilities: | 11,376 | 0 |
Less: valuation allowance | (174,320) | (64,491) |
Net deferred tax asset | $ 0 | $ 0 |
(13) Income Taxes (Details Narr
(13) Income Taxes (Details Narrative) - USD ($) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Income Tax Disclosure [Abstract] | ||
change in valuation allowance | $ 109,829 | $ 64,491 |
(14) Concentrations of Risk (De
(14) Concentrations of Risk (Details Narrative) - USD ($) | Jun. 30, 2020 | Dec. 31, 2019 |
Risks and Uncertainties [Abstract] | ||
Cash balances in excess of FDIC insured limits | $ 0 | $ 0 |