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TPT Global Tech (TPTW)

Cover

Cover - shares6 Months Ended
Jun. 30, 2021Aug. 19, 2021
Cover [Abstract]
Entity Registrant NameTPT Global Tech, Inc.
Entity Central Index Key0001661039
Document Type10-Q
Amendment Flagfalse
Current Fiscal Year End Date--12-31
Entity Small Businesstrue
Entity Shell Companyfalse
Entity Emerging Growth Companytrue
Entity Current Reporting StatusYes
Document Period End DateJun. 30,
2021
Entity Filer CategoryNon-accelerated Filer
Document Fiscal Period FocusQ2
Document Fiscal Year Focus2021
Entity Ex Transition Periodfalse
Entity Common Stock Shares Outstanding898,029,038
Document Quarterly Reporttrue
Document Transition Reportfalse
Entity Interactive Data CurrentYes
Entity File Number333-222094
Entity Incorporation State Country CodeFL
Entity Tax Identification Number81-3903357
Entity Address Address Line 1501 West Broadway
Entity Address Address Line 2Suite 800
Entity Address City Or TownSan Diego
Entity Address State Or ProvinceCA
Entity Address Postal Zip Code92101
City Area Code619
Local Phone Number301-4200

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)Jun. 30, 2021Dec. 31, 2020
CURRENT ASSETS
Cash and cash equivalents $ 105,299 $ 19,309
Accounts receivable, net561,377 164,818
Prepaid expenses and other current assets64,091 180,362
Total current assets730,767 364,489
NON-CURRENT ASSETS
Property and equipment, net2,024,648 2,145,597
Operating lease right of use assets4,579,096 4,732,459
Intangible assets, net4,345,631 4,714,941
Goodwill768,091 768,091
Deposits and other assets38,635 111,111
Total non-current assets11,756,101 12,472,199
TOTAL ASSETS12,486,868 12,836,688
CURRENT LIABILITIES
Accounts payable and accrued expenses9,664,153 7,866,140
Deferred revenue432,588 341,789
Customer liability338,725 338,725
Current portion of loans, advances and factoring agreements1,678,756 2,308,753
Convertible notes payable, net of discounts1,711,098 1,711,098
Notes payable - related parties, net of discounts10,635,444 10,559,796
Convertible notes payable - related parties, net of discounts922,181 922,481
Derivative liabilities4,783,379 5,265,139
Current portion of operating lease liabilities3,603,167 2,682,722
Financing lease liabilities182,890 184,939
Financing lease liabilities - related party668,669 654,633
Total current liabilities34,621,050 32,836,215
NON-CURRENT LIABILITIES
Loans, advances and factoring agreements, net of current portion and discounts1,752,600 843,577
Operating lease liabilities, net of current portion2,989,218 2,872,952
Total non-current liabilities4,741,818 3,716,529
Total liabilities39,362,868 36,552,744
Commitments and contingencies0 0
MEZZANINE EQUITY
Total mezzanine equity5,027,717 4,794,473
STOCKHOLDERS' DEFICIT
Common stock, $.001 par value, 1,000,000,000 shares authorized, 879,029,038 and 865,564,371 shares issued and outstanding as of June 30, 2021 and December 31, 2020, respectively879,030 865,565
Subscriptions payable (receivable)(3,265)125,052
Additional paid-in capital11,919,070 11,462,940
Accumulated deficit(44,787,194)(40,902,944)
Total TPT Global Tech, Inc. stockholders' deficit(31,992,359)(28,449,387)
Non-controlling interests88,642 (61,142)
Total stockholders' deficit(31,903,717)(28,510,529)
Total liabilities and stockholders' DEFICIT12,486,868 12,836,688
Series A Preferred Stock
STOCKHOLDERS' DEFICIT
Preferred stock value3,117,000 3,117,000
Series B Preferred Stock
STOCKHOLDERS' DEFICIT
Preferred stock value1,677,473 1,677,476
Series C Preferred Stock
STOCKHOLDERS' DEFICIT
Preferred stock value0 0
Series D Preferred Stock
STOCKHOLDERS' DEFICIT
Preferred stock value $ 233,244 $ 0

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / sharesJun. 30, 2021Dec. 31, 2020
Common stock, par value $ 0.001 $ 0.001
Common stock, authorized1,000,000,000 1,000,000,000
Common stock, issued879,029,038 865,564,371
Common stock, outstanding879,029,038 865,564,371
Series A Preferred Stock
Mezzanine stock, authorized1,000,000 1,000,000
Mezzanine stock, issued1,000,000 1,000,000
Mezzanine stock, outstanding1,000,000 1,000,000
Series B Preferred Stock
Mezzanine stock, authorized3,000,000 3,000,000
Mezzanine stock, issued2,588,693 2,588,693
Mezzanine stock, outstanding2,588,693 2,588,693
Series C Preferred Stock
Mezzanine stock, authorized3,000,000 3,000,000
Mezzanine stock, issued0 0
Mezzanine stock, outstanding0 0
Series D Preferred Stock
Mezzanine stock, authorized10,000,000 10,000,000
Mezzanine stock, issued46,649 0
Mezzanine stock, outstanding46,649 0

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)3 Months Ended6 Months Ended
Jun. 30, 2021Jun. 30, 2020Jun. 30, 2021Jun. 30, 2020
REVENUES:
Products $ 8,140 $ 16,940 $ 10,630 $ 28,091
Services2,571,040 2,739,831 5,280,900 5,804,653
Total Revenues2,579,180 2,756,771 5,291,530 5,832,744
COST OF SALES:
Products8,140 10,640 14,400 27,300
Services2,181,501 4,340,655 1,628,260 3,710,377
Total Costs of Sales2,189,641 1,628,260 4,351,295 3,737,677
Gross profit389,539 1,114,111 940,235 2,095,067
EXPENSES:
Sales and marketing104,768 39,107 109,025 65,007
Professional337,098 410,755 747,119 754,722
Payroll and related727,648 584,136 1,388,315 1,246,138
General and administrative529,597 421,869 1,199,806 884,712
Research and development0 1,000,000 0 1,000,000
Depreciation164,342 259,964 319,703 517,367
Amortization184,655 182,735 369,310 365,470
Total expenses2,048,108 2,898,566 4,133,278 4,833,416
Loss from operations(1,658,569)(1,784,455)(3,193,043)(2,738,349)
OTHER INCOME (EXPENSE)
Derivative gain (expense)189,274 3,496,653 374,549 (400,019)
Gain (loss) on debt extinguishment0 1,252,131 0 1,252,131
Gain (loss) on debt conversions0 (206,775)0 (775,650)
Interest expense(409,243)(287,344)(800,122)(834,101)
Other expense(334,908)0 (334,908)0
Total other income (expenses)(554,877)4,254,665 (760,481)(757,639)
Net income (loss) before income taxes(2,213,446)2,470,210 (3,953,524)(3,495,988)
Income taxes0 0 0 0
NET INCOME (LOSS) BEFORE NON-CONTROLLING INTERESTS(2,213,446)2,470,210 (3,953,524)(3,495,988)
NET LOSS ATTRIBUTABLE TO NON- CONTROLLING INTERESTS(42,248)0 (69,274)0
NET INCOME (LOSS) ATTRIBUTABLE TO TPT GLOBAL TECH, INC. SHAREHOLDERS $ (2,171,198) $ 2,470,210 $ (3,884,250) $ (3,495,988)
Income (loss) per common share: Basic and diluted $ 0 $ 0 $ 0 $ (0.01)
Weighted average number of common shares outstanding:
Basic and diluted877,523,814 839,198,568 874,187,627 614,826,873

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' DEFICIT (Unaudited) - USD ($)TotalSeries A, Preferred StockSeries B, Preferred StockCommon SharesSubscriptions PayableAdditional Paid-In CapitalRetained Earnings (Accumulated Deficit)Noncontrolling Interest
Balance, shares at Dec. 31, 20191,000,000 2,588,693 177,629,939
Balance, amount at Dec. 31, 2019 $ (18,795,869) $ 1,000 $ 2,589 $ 177,630 $ 574,256 $ 13,279,749 $ (32,831,093)
Common stock issuable for director services203,124 $ 0 $ 0 0 203,124 0 0
Reclassification of preferred stock as mezzanine, shares(1,000,000)(2,588,693)
Reclassification of preferred stock as mezzanine, amount(4,794,473) $ (1,000) $ (2,589) $ 0 0 (4,790,884)0
Common stock issued for convertible promissory notes, shares679,932,432
Common stock issued for convertible promissory notes, amount2,150,179 0 0 $ 679,933 0 1,470,246 0
Net Loss(3,495,988)0 0 $ 0 0 0 (3,495,988)
Balance, shares at Jun. 30, 2020857,562,371
Balance, amount at Jun. 30, 2020(24,733,027) $ 0 $ 0 $ 857,563 777,380 9,959,111 (36,327,081)
Balance, shares at Dec. 31, 20191,000,000 2,588,693 177,629,939
Balance, amount at Dec. 31, 2019 $ (18,795,869) $ 1,000 $ 2,589 $ 177,630 574,256 13,279,749 (32,831,093)
Issuance of shares in exchange for debt, shares2,000
Balance, shares at Dec. 31, 2020865,564,371
Balance, amount at Dec. 31, 2020 $ (28,510,529) $ 0 $ 0 $ 865,565 125,052 11,462,940 (40,902,944) $ (61,142)
Balance, shares at Mar. 31, 20201,000,000 2,588,693 737,324,774
Balance, amount at Mar. 31, 202022,906,577 $ 1,000 $ 2,589 $ 737,325 675,818 14,473,982 (38,797,291)
Common stock issuable for director services101,562 $ 0 $ 0 0 101,562 0 0
Reclassification of preferred stock as mezzanine, shares(1,000,000)(2,588,693)
Reclassification of preferred stock as mezzanine, amount(4,794,473) $ (1,000) $ (2,589) $ 0 0 (4,790,884)0
Common stock issued for convertible promissory notes, shares120,237,597
Common stock issued for convertible promissory notes, amount396,251 0 0 $ 120,238 0 276,013 0
Net Loss2,470,210 0 0 $ 0 0 0 2,470,210
Balance, shares at Jun. 30, 2020857,562,371
Balance, amount at Jun. 30, 2020(24,733,027)0 0 $ 857,563 777,380 9,959,111 (36,327,081)
Balance, shares at Dec. 31, 2020865,564,371
Balance, amount at Dec. 31, 2020(28,510,529)0 0 $ 865,565 125,052 11,462,940 (40,902,944)(61,142)
Net Loss(3,953,524)0 0 $ 0 0 0 (3,953,524)(69,274)
Common stock issued for services or subscription payable, shares5,964,667
Common stock issued for services or subscription payable, amount213,836 0 0 $ 5,965 (128,317)336,203 0 0
Issuance of shares in exchange for debt, shares7,500,000
Issuance of shares in exchange for debt, amount346,500 0 0 $ 7,500 0 339,000 0 0
TPT Strategic license cancellation0 0 0 $ 0 0 (219,058)0 219,058
Balance, shares at Jun. 30, 2021879,029,038
Balance, amount at Jun. 30, 2021(31,903,717)0 0 $ 879,030 (3,265)11,919,070 (44,787,194)88,642
Balance, shares at Mar. 31, 2021873,064,371
Balance, amount at Mar. 31, 2021(29,821,314)0 0 $ 873,065 207,845 11,582,882 (42,615,996)130,890
Net Loss(2,213,446)0 0 $ 0 0 0 (2,171,198)(42,248)
Common stock issued for services or subscription payable, shares5,964,667
Common stock issued for services or subscription payable, amount213,836 0 0 $ 5,965 (211,110)336,203 0 0
Balance, shares at Jun. 30, 2021879,029,038
Balance, amount at Jun. 30, 2021 $ (31,903,717) $ 0 $ 0 $ 879,030 $ (3,265) $ 11,919,070 $ (44,787,194) $ 88,642

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)6 Months Ended
Jun. 30, 2021Jun. 30, 2020
Cash flows from operating activities:
Net loss $ (3,953,524) $ (3,495,988)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation319,703 517,367
Amortization369,310 365,470
Amortization of debt discounts346,067 450,661
Promissory note issued for research and development0 1,000,000
Loss on conversion of notes payable0 775,650
Derivative (gain) expense(374,549)400,019
Gain on extinguishment of debt0 (1,252,131)
Share-based compensation: Common stock209,685 203,124
Changes in operating assets and liabilities:
Accounts receivable(396,559)269,109
Accounts receivable related party0
Prepaid expenses and other assets116,271 (33,895)
Deposits and other assets72,476 0
Accounts payable and accrued expenses1,709,486 375,847
Net change in operating lease right of use assets and liabilities1,190,074 75,634
Other liabilities90,799 30,238
Net cash used in operating activities(304,761)(318,895)
Cash flows from investing activities:
Purchase of equipment(198,753)(271,138)
Net cash used in investing activities(198,753)(271,138)
Cash flows from financing activities:
Proceeds from sale of Series D Preferred Stock233,244 0
Proceeds from convertible notes, loans and advances1,771,685 1,311,800
Payment on convertible loans, advances and factoring agreements(1,460,898)(619,227)
Proceeds on convertible notes and amounts payable - related parties48,224 2,400
Payments on convertible notes and amounts payable - related parties(702)(188,238)
Payments on financing lease liabilities(2,049)0
Net cash provided by financing activities589,504 506,735
Net change in cash85,978 (83,298)
Cash and cash equivalents - beginning of period19,309 192,172
Cash and cash equivalents - end of period105,299 108,874
Supplemental Cash Flow Information:
Interest34,353 88,736
Taxes0 0
Debt discount on factoring agreement0 216,720
Non-Cash Investing and Financing Activities:
Operating lease liabilities and right of use assets0
Common stock issued in exchange for payable and note457,211 2,258,637
TPT Strategic, Inc. merger - Non-controlling interest in intercompany liabilities rescinded $ (219,058)0
Convertible preferred Series A and B reclassified to mezzanine equity $ 4,790,884

DESCRIPTION OF BUSINESS AND SUM

DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES6 Months Ended
Jun. 30, 2021
DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
NOTE 1- DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESNOTE 1 - DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Nature of Operations The Company was originally incorporated in 1988 in the state of Florida. TPT Global, Inc., a Nevada corporation formed in June 2014, merged with Ally Pharma US, Inc., a Florida corporation, (“Ally Pharma”, formerly known as Gold Royalty Corporation) in a “reverse merger” wherein Ally Pharma issued 110,000,000 shares of Common Stock, or 80% ownership, to the owners of TPT Global, Inc. in exchange for all outstanding common stock of TPT Global Inc. and Ally Pharma agreed to change its name to TPT Global Tech, Inc. (jointly referred to as “the Company” or “TPTG”). The following acquisitions have resulted in entities which have been consolidated into TPTG. In 2014 the Company acquired all the assets of K Telecom and Wireless LLC (“K Telecom”) and Global Telecom International LLC (“Global Telecom”). Effective January 31, 2015, TPTG completed its acquisition of 100% of the outstanding stock of Copperhead Digital Holdings, Inc. (“Copperhead Digital”) and Subsidiaries, TruCom, LLC (“TruCom”), Nevada Utilities, Inc. (“Nevada Utilities”) and CityNet Arizona, LLC (“CityNet”). Effective September 30, 2016, the company acquired 100% ownership in San Diego Media Inc. (“SDM”). In October 2017, we entered into agreements to acquire Blue Collar, Inc. (“Blue Collar”) which closed as of September 1, 2018. On May 7, 2019 we completed the acquisition of a majority of the assets of SpeedConnect, LLC, which assets were conveyed into our wholly owned subsidiary TPT SpeedConnect, LLC (“TPT SC” or “TPT SpeedConnect”) which was formed on April 16, 2019. On January 8, 2020 we formed TPT Federal, LLC (“TPT Federal”). On March 30, 2020 we formed TPT MedTech, LLC (“TPT MedTech”) and on June 6, 2020 we formed InnovaQor, Inc (“InnovaQor”). In July and August 2020, the Company formed Quiklab 1 LLC, QuikLAB 2, LLC, QuikLAB 3, LLC and QuikLAB 4, LLC where TPT MedTech owns 80% (as agreed per the operating agreement) of all outside equity investments. Effective August 1, 2020 we closed on the acquisition of 75% of The Fitness Container, LLC (“Air Fitness”). In July 2020, we invested in a Hong Kong company called TPT Global Tech Asia Limited of which we own 78%, and during 2020, InnovaQor did a reverse merger with Southern Plains of which there ended up being a non controlling interest of 6% as of June 30, 2021 and December 31, 2020. The name of InnovaQor remained for the merged entities but was changed to TPT Strategic, Inc. on March 21, 2021. We are based in San Diego, California, and operate as a technology-based company with divisions providing telecommunications, medical technology and product distribution, media content for domestic and international syndication as well as technology solutions. We operate on our own proprietary Global Digital Media TV and Telecommunications infrastructure platform and also provide technology solutions to businesses domestically and worldwide. We offer Software as a Service (SaaS), Technology Platform as a Service (PAAS), Cloud-based Unified Communication as a Service (UCaaS) and carrier-grade performance and support for businesses over our private IP MPLS fiber and wireless network in the United States. Our cloud-based UCaaS services allow businesses of any size to enjoy all the latest voice, data, media and collaboration features in today's global technology markets. We also operate as a Master Distributor for Nationwide Mobile Virtual Network Operators (MVNO) and Independent Sales Organization (ISO) as a Master Distributor for Pre-Paid Cellphone services, Mobile phones, Cellphone Accessories and Global Roaming Cellphones. Significant Accounting Policies Please refer to Note 1 of the Notes to the Consolidated Financial Statements in the Company's most recent Form 10-K for all significant accounting policies of the Company, with the exception of those discussed below. Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared according to the instructions to Form 10-Q and Section 210.8-03(b) of Regulation S-X of the Securities and Exchange Commission (“SEC”) and, therefore, certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) have been omitted. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three months ended June 30, 2021 are not necessarily indicative of the results that may be expected for the year ending December 31, 2021. These condensed consolidated financial statements should be read in conjunction with the Company’s consolidated financial statements for the year ended December 31, 2020. The condensed consolidated balance sheet as of June 30, 2021, has been derived from the consolidated financial statements at that date, but does not include all of the information and footnotes required by GAAP. Our condensed consolidated financial statements include the accounts of K Telecom and Global, Copperhead Digital, SDM, Blue Collar, TPT SpeedConnect, TPT Federal, TPT MedTech, InnovaQor, Quiklab 1, QuikLAB 2, QuikLAB 3, QuikLAB 4, Aire Fitness and TPT Global Tech Asia Limited. The consolidated financial statements also give effects to non-controlling interests of the QuikLABs of 20%, Aire Fitness of 25%, TPT Global Tech Asia Limited of 22% and InnovaQor of 6%, where appropriate. All intercompany accounts and transactions have been eliminated in consolidation. Revenue Recognition We have applied ASC 606, revenue from Contracts with Customers, to all contracts as of the date of initial application and as such, have used the following criteria described below in more detail for each business unit: Identify the contract with the customer Identify the performance obligations in the contract Determine the transaction price Allocate the transaction price to performance obligations in the contract Recognize revenue when or as we satisfy a performance obligation. Reserves are recorded as a reduction in net sales and are not considered material to our consolidated statements of income for the three months ended June 30, 2021 and 2020. In addition, we invoice our customers for taxes assessed by governmental authorities such as sales tax and value added taxes, where applicable. We present these taxes on a net basis. The Company’s revenue generation for the six months ended June 30, 2021 and 2020 came from the following sources disaggregated by services and products, which sources are explained in detail below. For the six months ended June 30, 2021 For the six months ended June 30, 2020 TPT SpeedConnect $ 4,050,224 $ 5,264,486 Blue Collar 711,454 526,092 TPT MedTech 457,108 - San Diego Media and other 7,032 14,075 Aire Fitness 55,083 - Total Services Revenue $ 5,280,900 $ 5,804,653 K Telecom-Product Revenue 10,630 28,091 Total Revenue $ 5,291,530 $ 5,832,744 TPT SpeedConnect: ISP and Telecom Revenue TPT SpeedConnect is a rural Internet provider operating in 10 Midwestern States under the trade name SpeedConnect. TPT SC’s primary business model is subscription based, pre-paid monthly reoccurring revenues, from wireless delivered, high-speed internet connections. In addition, the company resells third-party satellite and DSL internet and IP telephony services. Revenue generated from sales of telecommunications services is recognized as the transaction with the customer is considered closed and the customer receives and accepts the services that were the result of the transaction. There are no financing terms or variable transaction prices. Due date is detailed on monthly invoices distributed to customer. Services billed monthly in advance are deferred to the proper period as needed. Deferred revenue are contract liabilities for cash received before performance obligations for monthly services are satisfied. Deferred revenue at June 30, 2021 and December 31, 2020 are $306,578 and $292,847, respectively. Certain of our products require specialized installation and equipment. For telecom products that include installation, if the installation meets the criteria to be considered a separate element, product revenue is recognized upon delivery, and installation revenue is recognized when the installation is complete. The Installation Technician collects the signed quote containing terms and conditions when installing the site equipment at customer premises. Revenue for installation services and equipment is billed separately from recurring ISP and telecom services and is recognized when equipment is delivered and installation is completed. Revenue from ISP and telecom services is recognized monthly over the contractual period, or as services are rendered and accepted by the customer. The overwhelming majority of our revenue continues to be recognized when transactions occur. Since installation fees are generally small relative to the size of the overall contract and because most contracts are for two years or less, the impact of not recognizing installation fees over the contract is immaterial. Blue Collar: Media Production Services Blue Collar creates original live action and animated content productions and has produced hundreds of hours of material for the television, theatrical, home entertainment and new media markets. Blue Collar designs branding and marketing campaigns and has had agreements with some of the world’s largest companies including PepsiCo, Intel, HP, WalMart and many other Fortune 500 companies. Additionally, they create motion picture, television and home entertainment marketing campaigns for studios including Sony, DreamWorks, Twentieth Century Fox, Universal Studios, Paramount Studios, and Warner Brothers. With regard to revenue recognition, Blue Collar receives an agreement from each client to perform defined work. Some agreements are written, some are verbal. Work may include creation of marketing materials and/or content creation. Some work may be short term and take weeks to create and some work may be longer and take months to create. There are instances where customer agreements segregate identifiable obligations (like filming on site vs. film editing and final production) with separate transaction pricing. The performance obligation is generally satisfied upon delivery of such film or production products, at which time revenue is recognized. There are no financing terms or variable transaction prices. SDM: Ecommerce, Email Marketing and Web Design Services SDM generates revenue by providing ecommerce, email marketing and web design solutions to small and large commercial businesses, complete with monthly software support, updates and maintenance. Services are billed monthly. There are no financing terms or variable transaction prices. Platform infrastructure support is a prepaid service billed in monthly recurring increments. The services are billed a month in advance and due prior to services being rendered. The revenue is deferred when invoiced and booked in the month the service is provided. There is no deferred revenue at June 30, 2021 and December 31, 2020. Software support services (including software upgrades) are billed in real time, on the first of the month. Web design service revenues are recognized upon completion of specific projects. Revenue is booked in the month the services are rendered and payments are due on the final day of the month. There are usually no contract revenues that are deferred until services are performed. TPT MedTech: Medical Testing Revenue TPT MedTech operates in the Point of Care Testing (“POCT”) market by primarily offering mobile medical testing facilities and software equipped for mobile devices to monitor and manage personalized healthcare. Services used from our mobile medical testing facilities are billing through credit cards at the time of service. Revenue is generated from our software platform as users sign up for our mobile healthcare monitor and management application and tests are performed. If medical testing is in one our own owned facilities, the usage of the software application is included in the testing fees. If the testing is in a non-owned outside contracted facility, fees are generated from the usage of the software application on a per test basis and billed monthly. TPT MedTech also offers two products. One is to build and sell its mobile testing facilities called QuikLABs designed for mobile testing. This is used by TPT MedTech for its own testing services. The other is a sanitizing unit called SANIQuik which is used as a safe and flexible way to sanitize providing an additional routine to hand washing and facial coverings. The SANIQuik has not yet been approved for sale in the United States but has in some parts of the European community. Revenues from these products are recognized when a product is delivered, the sales transaction considered closed and accepted by a customer. Deferred revenue at June 30, 2021 and December 31, 2020 are $126,011 and $48,943, respectively. There are no financing terms or variable transaction prices for either of these products. Copperhead Digital: ISP and Telecom Revenue Copperhead Digital operated as a regional internet and telecom services provider operating in Arizona under the trade name Trucom. Although there are currently no customers and it will take capital to reopen this revenue stream, Copperhead Digital operated as a wireless telecommunications Internet Service Provider (“ISP”) facilitating both residential and commercial accounts. Copperhead Digital’s primary business model was subscription based, pre-paid monthly reoccurring revenues, from wireless delivered, high-speed internet connections. In addition, the company resold third-party satellite and DSL internet and IP telephony services. Revenue generated from sales of telecommunications services was recognized as the transaction with the customer is considered closed and the customer received and accepted the services that were the result of the transaction. There are no financing terms or variable transaction prices. Due date was detailed on monthly invoices distributed to customer. Services billed monthly in advance were deferred to the proper period as needed. Deferred revenue was contract liabilities for cash received before performance obligations for monthly services are satisfied. Certain of its products required specialized installation and equipment. For telecom products that included installation, if the installation met the criteria to be considered a separate element, product revenue was recognized upon delivery, and installation revenue was recognized when the installation was complete. The Installation Technician collected the signed quote containing terms and conditions when installing the site equipment at customer premises. Revenue for installation services and equipment was billed separately from recurring ISP and telecom services and was recognized when equipment was delivered, and installation was completed. Revenue from ISP and telecom services was recognized monthly over the contractual period, or as services were rendered and accepted by the customer. The overwhelming majority of revenue was recognized when transactions occurred. Since installation fees were generally small relative to the size of the overall contract and because most contracts were for a year or less, the impact of not recognizing installation fees over the contract was immaterial. K Telecom: Prepaid Phones and SIM Cards Revenue K Telecom generates revenue from reselling prepaid phones, SIM cards, and rechargeable minute traffic for prepaid phones to its customers (primarily retail outlets). Product sales occur at the customer’s locations, at which time delivery occurs and cash or check payment is received. The Company recognizes the revenue when they receive payment at the time of delivery. There are no financing terms or variable transaction prices. Basic and Diluted Net Loss Per Share The Company computes net income (loss) per share in accordance with ASC 260, “Earning per Share”. ASC 260 requires presentation of both basic and diluted earnings per share (“EPS”) on the face of the income statement. Basic EPS is computed by dividing net income (loss) available to common shareholder (numerator) by the weighted average number of shares outstanding (denominator) during the period. Diluted EPS gives effect to all dilutive potential common shares outstanding during the period using the treasury stock method for options and warrants and using the if-converted method for preferred stock and convertible notes. In computing diluted EPS, the average stock price for the period is used in determining the number of shares assumed to be purchased from the exercise of stock options or warrants. Diluted EPS excludes all dilutive potential shares if their effect is anti-dilutive. As of June 30, 2021, the Company had shares that were potentially common stock equivalents as follows: Convertible Promissory Notes 421,447,906 Series A Preferred Stock (1) 1,279,184,625 Series B Preferred Stock 2,588,693 Series D Preferred Stock (2) 21,050,993 Stock Options and Warrants 3,333,333 1,727,605,549 ___________ (1) Holder of the Series A Preferred Stock which is Stephen J. Thomas, is guaranteed 60% of outstanding common stock upon conversion. The Company would have to authorize additional shares for this to occur as only 1,000,000,000 shares are currently authorized. (2) Holders of the Series D Preferred Stock may decide after 18 months to convert to common stock 80% of the 30 day average market closing price (for previous 30 business days) divided into $5.00. There is also an automatic conversion of the Series D Preferred Stock without consent of holders upon any national exchange listing approval and the registration effectiveness of common stock underlying the conversion rights. The automatic conversion to common from Series D Preferred shall be on a one for one basis. Financial Instruments and Fair Value of Financial Instruments Our primary financial instruments at June 30, 2021 and December 31, 2020 consisted of cash equivalents, accounts receivable, accounts payable, notes payable and derivative liabilities. We apply fair value measurement accounting to either record or disclose the value of our financial assets and liabilities in our financial statements. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the 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 Level 2 Level 3 We consider our derivative financial instruments as Level 3. The balances for our derivative financial instruments as of June 30, 2021 are the following: Derivative Instrument Fair Value Fair value of Auctus Convertible Promissory Note $ 3,785,589 Fair value of EMA Financial Convertible Promissory Note 988,799 Fair value of Warrants issued with the derivative instruments 8,991 $ 4,783,379 Recently Adopted Accounting Pronouncements In August 2020, the FASB issued ASU 2020-06, “Debt - Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging - Contracts in Entity's Own Equity (Subtopic 815 - 40)” (“ASU 2020-06”). ASU 2020-06 simplifies the accounting for certain financial instruments with characteristics of liabilities and equity, including convertible instruments and contracts on an entity's own equity. The ASU is part of the FASB's simplification initiative, which aims to reduce unnecessary complexity in U.S. GAAP. The ASU's amendments are effective for fiscal years beginning after December 15, 2023, and interim periods within those fiscal years, with early adoption permissible for fiscal years beginning after December 15, 2020. The Company early adopted ASU 2060-06 on January 1, 2021, which had no material impact on its financial statements. Management has reviewed recently issued accounting pronouncements and have determined there are not any that would have a material impact on the condensed consolidated financial statements.

ACQUISITIONS

ACQUISITIONS6 Months Ended
Jun. 30, 2021
ACQUISITIONS
NOTE 2- ACQUISITIONSNOTE 2 – ACQUISITIONS The Fitness Container, LLC (DBA Aire Fitness) On June 1, 2020, the Company signed an agreement for the acquisition of a majority interest in San Diego based manufacturing company, The Fitness Container, LLC dba “Aire Fitness” ( www.airefitness.com), The Company evaluated this acquisition in accordance with ASC 805-10-55-4 to discern whether the assets and operations of the assets purchased met the definition of a business. The company concluded that there are processes and sufficient inputs into outputs. Accordingly, the Company accounted for this transaction as a business combination and allocated the purchase price as follows: Consideration given at fair value: Note payable, net of discount $ 340,000 Accounts payable 157,252 Non-controlling interest 113,333 $ 610,585 Assets acquired at fair value: Cash $ 460 Accounts receivable 39,034 $ 39,494 Goodwill $ 571,091 Included in the consolidated statement of operations for the six months ended June 30, 2021 is $55,083 in revenues and $116,202 of net losses. TPT Strategic Merger with Southern Plains On August 1, 2020, InnovaQor (name changed to TPT Strategic, Inc.), a wholly-owned subsidiary of the Company, entered into a Merger Agreement with the publicly traded company Southern Plains Oil Corp. (OTC PINK: SPLN prior to Merger Agreement). During 2020, TPT Strategic authorized a Series A Super Majority Preferred Stock valued at $350,000 by management and issued to a third party in exchange for legal services. Effective September 30, 2020, the Series A Super Majority Preferred Stock was exchanged with TPT for a note payable of $350,000 payable in cash or common stock (see Note 5(2)). As such, as of September 30, 2020, the Company, for accounting purposes, took control of the merged TPT Strategic and reflected in it’s consolidated balance sheet the non-controlling interest of $219,058 in the liabilities under a license agreement valued at $3,500,000. This $3,500,000 was recorded as a Note Payable and expensed on InnovaQor’s books. During the six months ended June 30, 2021, the license agreement was cancelled and the non controlling interest reversed.

GOING CONCERN

GOING CONCERN6 Months Ended
Jun. 30, 2021
GOING CONCERN
NOTE 3- GOING CONCERNNOTE 3 – GOING CONCERN The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern. Cash flows generated from operating activities were not enough to support all working capital requirements for the six months ended June 30, 2021 and 2020. Financing activities described below have helped with working capital and other capital requirements. We incurred $3,884,250 and $3,495,988, respectively, in losses, and we used $304,761 and $318,895, respectively, in cash from operations for the six months ended June 30, 2021 and 2020. We calculate the net cash used by operating activities by decreasing, or increasing in case of gain, our let loss by those items that do not require the use of cash such as depreciation, amortization, promissory note issued for research and development, note payable issued for legal fees, derivative expense or gain, gain on extinguishment of debt, loss on conversion of notes payable, impairment of goodwill and long-loved assts and share-based compensation which totaled to a net $870,216 for 2021 and $2,460,160 for 2020. In addition, we report increases and reductions in liabilities as uses of cash and deceases assets and increases in liabilities as sources of cash, together referred to as changes in operating assets and liabilities. For the six months ended June 30, 2021, we had a net increase in our assets and liabilities of $2,778,546 primarily from an increase in accounts payable from lag of payments for accounts payable for cash flow considerations and an increase in the balances from our operating lease liabilities. For the six months ended June 30, 2021, we had a net increase to our assets and liabilities of $716,933 for similar reasons. Cash flows from financing activities were $589,504 and $506,735 for the six months ended June 30, 2021 and 2020, respectively. For the six months ended June 30, 2021, these cash flows were generated primarily from proceeds from sale of Series D Preferred Stock of $233,244, proceeds from convertible notes, loans and advances of $1,771,685 offset by payment on convertible loans, advances and factoring agreements of $1,460,898. For the six months ended June 30, 2020, cash flows from financing activities primarily came from proceeds from convertible notes, loans and advances of $1,311,800 offset by payments on convertible loans, advances and factoring agreements of $619,227 and payments on convertible notes and amounts payable – related parties of $188,238. Cash flows used in investing activities were $198,753 and $271,138, respectively, for the six months ended June 30, 2021 and 2020. These cash flows were used for the purchase of equipment. These factors raise substantial doubt about the ability of the Company to continue as a going concern for a period of one year from the issuance of these financial statements. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. In December 2019, COVID-19 emerged and has subsequently spread worldwide. The World Health Organization has declared COVID-19 a pandemic resulting in federal, state and local governments and private entities mandating various restrictions, including travel restrictions, restrictions on public gatherings, stay at home orders and advisories and quarantining of people who may have been exposed to the virus. After close monitoring and responses and guidance from federal, state and local governments, in an effort to mitigate the spread of COVID-19, around March 18, 2020 for a period of time, the Company closed its Blue Collar office in Los Angeles and its TPT SpeedConnect offices in Michigan, Idaho and Arizona. Most employees were working remotely, however this was not possible with certain employees and all subcontractors that work for Blue Collar. The Company has opened up most of it operations and continues to monitor developments, including government requirements and recommendations at the national, state, and local level to evaluate possible extensions to all or part of such closures. The Company has taken advantage of the stimulus offerings and received $722,200 in April 2020 and $680,500 in February 2021 and believes it has used these funds as is prescribed by the stimulus offerings to have the entire amounts forgiven. The Company has applied for forgiveness of the original stimulus of $722,200. The forgiveness process for stimulus funded in February 2021 has not begun. The Company will try and take advantage of additional stimulus as it is available and is also in the process of trying to raise debt and equity financing, some of which may have to be used for working capital shortfalls if revenues continue to decline because of the COVID-19 closures. On May 28, 2021, the Company entered into a Common Stock Purchase Agreement (“Purchase Agreement”) and Registration Rights Agreement (“Registration Rights Agreement”) with White Lion Capital, LLC, a Nevada limited liability company (“White Lion”). Under the terms of the Purchase Agreement, White Lion agreed to provide the Company with up to $5,000,000 upon effectiveness of a registration statement on Form S-1 (the “Registration Statement”) filed with the U.S. Securities and Exchange Commission (the “Commission”). A Form S-1 was filed on June 30, 2021 regarding this transaction. Subsequent Amendments to Forms S-1 related to this transaction were filed on July 6, 2021 and July 14, 2021. The registrations statement was declared effective July 19, 2021. In August 2021, the Company has given purchase notices for 9,000,000 shares of common stock under the Purchase Agreement and has received proceeds of $83,420, net of expenses. In order for us to continue as a going concern for a period of one year from the issuance of these financial statements, we will need to obtain additional debt or equity financing and look for companies with cash flow positive operations that we can acquire. There can be no assurance that we will be able to secure additional debt or equity financing, that we will be able to acquire cash flow positive operations, or that, if we are successful in any of those actions, those actions will produce adequate cash flow to enable us to meet all our future obligations. Most of our existing financing arrangements are short-term. If we are unable to obtain additional debt or equity financing, we may be required to significantly reduce or cease operations.

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT6 Months Ended
Jun. 30, 2021
PROPERTY AND EQUIPMENT
NOTE 4- PROPERTY AND EQUIPMENTNOTE 4 – PROPERTY AND EQUIPMENT Property and equipment and related accumulated depreciation as of June 30, 2021 and December 31, 2020 are as follows: 2021 2020 Property and equipment: Telecommunications fiber and equipment $ 2,652,751 $ 2,530,167 Film production equipment 369,903 369,903 Medical equipment 209,499 133,329 Office furniture and equipment 86,899 86,899 Leasehold improvements 18,679 18,679 Total property and equipment 3,337,731 3,138,977 Accumulated depreciation (2,024,648 ) (993,380 ) Property and equipment, net $ 2,024,648 $ 2,145,597 Depreciation expense was $319,703 and $517,367 for the six months ended June 30, 2021 and 2020, respectively.

DEBT FINANCING ARRANGEMENTS

DEBT FINANCING ARRANGEMENTS6 Months Ended
Jun. 30, 2021
DEBT FINANCING ARRANGEMENTS
NOTE 5- DEBT FINANCING ARRANGEMENTSNOTE 5 – DEBT FINANCING ARRANGEMENTS Financing arrangements as of June 30, 2021 and December 31, 2020 are as follows: 2021 2020 Loans and advances (1) $ 2,744,042 $ 2,517,200 Convertible notes payable (2) 1,711,098 1,711,098 Factoring agreements (3) 687,314 635,130 Debt – third party $ 5,142,454 $ 4,863,428 Line of credit, related party secured by assets (4) $ 3,043,390 $ 3,043,390 Debt– other related party, net of discounts (5) 7,450,000 7,423,334 Convertible debt – related party (6) 922,181 922,481 Shareholder debt (7) 142,054 93,072 Debt – related party $ 11,557,625 $ 11,482,277 Total financing arrangements $ 16,700,079 $ 16,345,705 Less current portion: Loans, advances and factoring agreements – third party $ (1,678,756 ) $ (2,308,753 ) Convertible notes payable third party (1,711,098 ) (1,711,098 Debt – related party, net of discount (10,635,444 ) (10,559,796 ) Convertible notes payable– related party (922,181 ) (922,481 ) (14,947,479 ) (15,502,128 ) Total long term debt $ 1,752,600 $ 843,577 _________ (1) The terms of $40,000 of this balance are similar to that of the Line of Credit which bears interest at adjustable rates, 1 month Libor plus 2%, 2.10% as of June 30, 2021, and is secured by assets of the Company, was due August 31, 2020, as amended, and included 8,000 stock options as part of the terms which options expired December 31, 2019 (see Note 7). $400,500 is a line of credit that Blue Collar has with a bank, bears interest at Prime plus 1.125%, 4.38% as of June 30, 2021, and was due March 25, 2021. $360,000 is a bank loan dated May 28, 2019, amended May 20, 2021 which bears interest at Prime plus 6%, 9.25% as of June 30, 2021, is interest only for the first year following the amendment, there after beginning in June of 2022 payable monthly of principal and interest until the due date of May 1, 2024. The bank loan is collateralized by assets of the Company. $722,220 and $680,500 represent loans under the COVID-19 Pandemic Paycheck Protection Program (“PPP”) originated in April 2020 and February 2021, respectively. The Company believes that it has used the funds as prescribed by the stimulus offerings to have the entire amounts forgiven. The Company has applied for forgiveness of the original stimulus of $722,200. The forgiveness process for stimulus funded in February 2021 has not begun. If any of the PPP loans are not forgiven then, per the PPP, the unforgiven loan amounts will be payable monthly over a five-year period of which payments are to begin no later than 10 months after the covered period as defined at a 1% annual interest rate. On June 4, 2019, the Company consummated a Securities Purchase Agreement with Odyssey Capital Funding, LLC. (“Odyssey”) for the purchase of a $525,000 Convertible Promissory Note (“Odyssey Convertible Promissory Note”). The Odyssey Convertible Promissory Note was due June 3, 2020, paid interest at the rate of 12% ( 24% default) per annum and gave the holder the right from time to time, and at any time during the period beginning six months from the issuance date to convert all of the outstanding balance into common stock of the Company limited to 4.99% of the outstanding common stock of the Company. The conversion price was 55% multiplied by the average of the two lowest trading prices for the common stock during the previous 20 trading days prior to the applicable conversion date. The Odyssey Convertible Promissory Note could be prepaid in full at 125% to 145% up to 180 days from origination. Through June 3, 2020, Odyssey converted $49,150 of principal and $4,116 of accrued interest into 52,961,921 shares of common stock of the Company. On June 8, 2020, Odyssey agreed to convert the remaining principal and accrued interest balance on the Odyssey Convertible Promissory Note of $475,850 and $135,000, respectively, to a term loan payable in six months in the form of a balloon payment, earlier if the Company has a funding event, bearing simple interest on the unpaid balance of 0% for the first three months and then 10% per annum thereafter. This loan is in default. The Company is negotiating with Odyssey for repayment. Effective September 30, 2020, we entered into a Purchase Agreement by which we agreed to purchase the 500,000 outstanding Series A Preferred shares of TPT Strategic, our majority owned subsidiary, in an agreed amount of $350,000 in cash or common stock, if not paid in cash, at the five day average price preceding the date of the request for effectiveness after the filing of a registration statement on Form S-1. This was modified December 28 and 29, 2020, to provide for registration of 7,500,000 common shares for resale at the market price. Any balance due on notes will be calculated after an accounting for the net sales proceeds from sale of the stock by February 28, 2021 and may be paid in cash or stock thereafter. The Series A Preferred shares were purchased from the Michael A. Littman, Atty. Defined Benefit Plan. The $350,000 was originally recorded as a Note Payable as of December 31, 2020 but then reclassified to equity and derivative liability when the 7,500,000 shares were issued during January 2021. See Note 7 for discussion on settlement agreement with Mr. Littman for any resulting liability that may arise after the sale of these shares. The remaining balances generally bear interest at approximately 10%, have maturity dates that are due on demand or are past due, are unsecured and are classified as current in the balance sheets. (2) During 2017, the Company issued convertible promissory notes in the amount of $67,000 (comprised of $62,000 from two related parties and $5,000 from a former officer of CDH), all which were due May 1, 2020 and bear 6% annual interest (12% default interest rate). The convertible promissory notes are convertible, as amended, at $0.25 per share. These convertible promissory notes were not repaid May 1, 2020 and may be considered in default. During 2019, the Company consummated Securities Purchase Agreements dated March 15, 2019, April 12, 2019, May 15, 2019, June 6, 2019 and August 22, 2019 with Geneva Roth Remark Holdings, Inc. (“Geneva Roth”) for the purchase of convertible promissory notes in the amounts of $68,000, $65,000, $58,000, $53,000 and $43,000 (“Geneva Roth Convertible Promissory Notes”). The Geneva Roth Convertible Promissory Notes are due one year from issuance, pays interest at the rate of 12% (principal amount increases 150%-200% and interest rate increases to 24% under default) per annum and gives the holder the right from time to time, and at any time during the period beginning 180 days from the origination date to the maturity date or date of default to convert all or any part of the outstanding balance into common stock of the Company limited to 4.99% of the outstanding common stock of the Company. The conversion price is 61% multiplied by the average of the two lowest trading prices for the common stock during the previous 20 trading days prior to the applicable conversion date. The Geneva Roth Convertible Promissory Notes may be prepaid in whole or in part of the outstanding balance at 125% to 140% up to 180 days from origination. Geneva Roth converted a total of $244,000 of principal and $8,680 of accrued interest through June 30, 2021 from its various Securities Purchase Agreements into 125,446,546 shares of common stock of the Company leaving no outstanding principal balances as of June 30, 2021. On February 13, 2020, the August 22, 2019 Securities Purchase Agreement was repaid for $63,284, including a premium and accrued interest. On March 25, 2019, the Company consummated a Securities Purchase Agreement dated March 18, 2019 with Auctus Fund, LLC. (“Auctus”) for the purchase of a $600,000 Convertible Promissory Note (“Auctus Convertible Promissory Note”). The Auctus Convertible Promissory Note is due December 18, 2019, pays interest at the rate of 12% (24% default) per annum and gives the holder the right from time to time, and at any time during the period beginning 180 days from the origination date or at the effective date of the registration of the underlying shares of common stock, which the holder has registration rights for, to convert all of the outstanding balance into common stock of the Company limited to 4.99% of the outstanding common stock of the Company. The conversion price is the lessor of the lowest trading price during the previous 25 trading days prior the date of the Auctus Convertible Promissory Note or 50% multiplied by the average of the two lowest trading prices for the common stock during the previous 25 trading days prior to the applicable conversion date. The Auctus Convertible Promissory Note may be prepaid in full at 135% to 150% up to 180 days from origination. Auctus converted $33,180 of principal and $142,004 of accrued interest into 376,000,000 shares of common stock of the Company prior to June 30, 2021. 2,000,000 warrants were issued in conjunction with the issuance of this debt. See Note 7. On June 6, 2019, the Company consummated a Securities Purchase Agreement with JSJ Investments Inc. (“JSJ”) for the purchase of a $112,000 Convertible Promissory Note (“JSJ Convertible Promissory Note”). The JSJ Convertible Promissory Note is due June 6, 2020, pays interest at the rate of 12% per annum and gives the holder the right from time to time, and at any time during the period beginning 180 days from the origination date to convert all of the outstanding balance into common stock of the Company limited to 4.99% of the outstanding common stock of the Company. The conversion price is the lower of the market price, as defined, or 55% multiplied by the average of the two lowest trading prices for the common stock during the previous 20 trading days prior to the applicable conversion date. The JSJ Convertible Promissory Note may be prepaid in full at 135% to 150% up to 180 days from origination. JSJ converted $43,680 of principal into 18,500,000 shares of common stock of the Company prior to June 30, 2021. In addition, on February 25, 2020 the Company repaid for $97,000, including a premium and accrued interest, for all remaining principal and accrued interest balances as of that day. 333,333 warrants were issued in conjunction with the issuance of this debt. See Note 7. On June 11, 2019, the Company consummated a Securities Purchase Agreement with EMA Financial, LLC. (“EMA”) for the purchase of a $250,000 Convertible Promissory Note (“EMA Convertible Promissory Note”). The EMA Convertible Promissory Note is due June 11, 2020, pays interest at the rate of 12% (principal amount increases 200% and interest rate increases to 24% under default) per annum and gives the holder the right from time to time to convert all of the outstanding balance into common stock of the Company limited to 4.99% of the outstanding common stock of the Company. The conversion price is 55% multiplied by the lowest traded price for the common stock during the previous 25 trading days prior to the applicable conversion date. The EMA Convertible Promissory Note may be prepaid in full at 135% to 150% up to 180 days from origination. Prior to June 30, 2021, EMA converted $35,366 of principal into 147,700,000 shares of common stock of the Company. 1,000,000 warrants were issued in conjunction with the issuance of this debt. See Note 7. The Company is in default under its derivative financial instruments and received notice of such from Auctus and EMA for not reserving enough shares for conversion and for not having filed a Form S-1 Registration Statement with the Securities and Exchange Commission. It was the intent of the Company to pay back all derivative securities prior to the due dates but that has not occurred in the case of Auctus or EMA. As such, the Company is currently in negotiations with Auctus and EMA relative to extending due dates and changing terms on the Notes. The Company has been named in a lawsuit by EMA for failing to comply with a Securities Purchase Agreement entered into in June 2019. See Note 8 Other Commitments and Contingencies. On February 14, 2020, the Company agreed to a Secured Promissory Note with a third party for $90,000. The Secured Promissory Note was secured by the assets of the Company and was due June 14, 2020 or earlier in case the Company is successful in raising other monies and carried an interest charge of 10% payable with the principal. The Secured Promissory Note was also convertible at the option of the holder into an equivalent amount of Series D Preferred Stock. The Secured Promissory Note also included a guaranty by the CEO of the Company, Stephen J. Thomas III. This Secured Promissory Note was paid off in June 2020, including $9,000 of interest in June and $1,000 in July 2020. (3) The Factoring Agreement with full recourse, due February 29, 2020, as amended, was established in June 2016 with a company that is controlled by a shareholder and is personally guaranteed by an officer of the Company. The Factoring Agreement is such that the Company pays a discount of 2% per each 30-day period for each advance received against accounts receivable or future billings. The Company was advanced funds from the Factoring Agreement for which $101,244 and $101,244 in principal remained unpaid as of June 30, 2021 and December 31, 2020, respectively. On May 8, 2019, the Company entered into a factoring agreement with Advantage Capital Funding (“2019 Factoring agreement”). $500,000, net of expenses, was funded to the Company with a promise to pay $18,840 per week for 40 weeks until a total of $753,610 is paid which occurred in February 2020. On February 21, 2020, the Company entered into an Agreement for the Purchase and Sale of Future Receipts (“2020 Factoring Agreement”). The balance to be purchased and sold is $716,720 for which the Company received $500,000, net of fees. Under the 2020 Factoring Agreement, the Company was to pay $14,221 per week for 50 weeks at an effective interest rate of approximately 43% annually. However, due to COVID-19 the payments under the 2020 Factoring Agreement were reduced temporarily, to between $9,000 and $11,000 weekly. All deferred payments, $39,249 as of June 30, 2021, were subsequently paid. On November 13, 2020, the Company entered into an Agreement for the Purchase and Sale of Future Receipts (“2020 NewCo Factoring Agreement”). The balance to be purchased and sold is $326,400 for which the Company received $232,800, net of fees. Under the 2020 NewCo Factoring Agreement, the Company was to pay $11,658 per week for 28 weeks at an effective interest rate of approximately 36% annually. The 2020 NewCo Factoring Agreement has been paid back in total. On December 11, 2020, the Company entered into an Agreement for the Purchase and Sale of Future Receipts with Samson MCA LLC (“Samson Factoring Agreement”). The balance to be purchased and sold is $162,500 for which the Company received $118,625, net of fees. Under the Samson Factoring Agreement, the Company was to pay $8,125 per week for 20 weeks at an effective interest rate of approximately 36%. The Samson Factoring Agreement has been paid back in total. On December 11, 2020, the Company entered into a consolidation agreement for the Purchase and Sale of Future Receipts with QFS Capital (“QFS Factoring Agreement”). The balance to be purchased and sold is $976,918 for which the Company receives weekly payments of $29,860 for 20 weeks and then $21,978 for 4 weeks and then $11,669 in the last week of receipts all totaling $696,781 net of fees. During the same time, the Company is required to pay weekly $23,087 for 42 weeks at an effective interest rate of approximately 36% annually. The QFS Factoring Agreement includes a guaranty by the CEO of the Company, Stephen J. Thomas III. On June 7 and June 14, 2021, the Company entered into two Agreements for the Purchase and Sale of Future Receipts (“NewCo Factoring Agreements”). The balance to be purchased and sold is $199,500 each for which the Company received $144,750 each, net of fees. Under the NewCo Factoring Agreement, the Company is to pay $5,542 each per week for 36 weeks at an effective interest rate of approximately 36% annually. The NewCo Factoring Agreements include a guaranty by the CEO of the Company, Stephen J. Thomas III. On June 28, 2021, the Company entered into an Agreement for the Purchase and Sale of Future Receipts (“NewCo Factoring Agreement #3”). The balance to be purchased and sold is $133,000 for which the Company received $100,000. Under the NewCo Factoring Agreement, the Company is to pay $3,695 per week for 36 weeks at an effective interest rate of approximately 36% annually. The NewCo Factoring Agreement #3 includes a guaranty by the CEO of the Company, Stephen J. Thomas III. (4) The Line of Credit originated with a bank and was secured by the personal assets of certain shareholders of Copperhead Digital. During 2016, the Line of Credit was assigned to the Copperhead Digital shareholders, who subsequent to the Copperhead Digital acquisition by TPTG became shareholders of TPTG, and the secured personal assets were used to pay off the bank. The Line of Credit bears a variable interest rate based on the 1 Month LIBOR plus 2.0%,2.14% as of June 30, 2021, is payable monthly, and is secured by the assets of the Company. 1,000,000 shares of Common Stock of the Company have been reserved to accomplish raising the funds to pay off the Line of Credit. Since assignment of the Line of Credit to certain shareholders, which balance on the date of assignment was $2,597,790, those shareholders have loaned the Company $445,600 under the similar terms and conditions as the line of credit but most of which were also given stock options totaling $85,120 which expired as of December 31, 2019 (see Note 8) and was due, as amended, August 31, 2020. The Company is in negotiations to refinance this Line of Credit. During the years ended December 31, 2019 and 2018, those same shareholders and one other have loaned the Company money in the form of convertible loans of $136,400 and $537,200, respectively, described in (2) and (6). (5) $350,000 represents cash due to the prior owners of the technology acquired in December 2016 from the owner of the Lion Phone which is due to be paid as agreed by TPTG and the former owners of the Lion Phone technology and has not been determined. $4,000,000 represents a promissory note included as part of the consideration of ViewMe Live technology acquired in 2017, later agreed to as being due and payable in full, with no interest with $2,000,000 from debt proceeds and the remainder from proceeds from the second Company public offering. $1,000,000 represents a promissory note which was entered into on May 6, 2020 for the acquisition of Media Live One Platform from Steve and Yuanbing Caudle for the further development of software. This was expensed as research and development in 2020. This $1,000,000 promissory note is non-interest bearing, due after funding has been received by the Company from its various investors and other sources. Mr. Caudle is a principal with the Company’s ViewMe technology. On September 1, 2018, the Company closed on its acquisition of Blue Collar. Part of the acquisition included a promissory note of $1,600,000 and interest at 3% from the date of closure. The promissory note is secured by the assets of Blue Collar. $500,000 represents a Note Payable related to the acquisition of 75% of Aire Fitness, payable by February 1, 2021 or as mutually agreed out of future capital raising efforts or net profits. The Note Payable has not been paid and does not accrue interest. (6) During 2016, the Company acquired SDM which consideration included a convertible promissory note for $250,000 due February 29, 2019, as amended, does not bear interest, unless delinquent in which the interest is 12% per annum, and is convertible into common stock at $1.00 per share. The SDM balance is $182,381 as of June 30, 2021. As of June 30, 2021, this convertible promissory note is delinquent. During 2018, the Company issued convertible promissory notes in the amount of $537,200 to related parties and $10,000 to a non-related party which bear interest at 6% (11% default interest rate), are due 30 months from issuance and are convertible into Series C Preferred Stock at $1.00 per share. (7) The shareholder debt represents funds given to TPTG or subsidiaries by officers and managers of the Company as working capital. There are no written terms of repayment or interest that is being accrued to these amounts and they will only be paid back, according to management, if cash flows support it. They are classified as current in the balance sheets. During the year ended December 31, 2020, the holders of approximately $4,700,000 of existing financing arrangements agreed to exchange their debt and accrued interest for Series D Preferred Stock through a separate $12 Million Private Placement of Series D Preferred Stock (“$12 Million Private Placement”), conditioned on the Company raising at least $12,000,000. To date, this condition has not been met. See Lease financing arrangements in Note 8.

DERIVATIVE FINANCIAL INSTRUMENT

DERIVATIVE FINANCIAL INSTRUMENTS6 Months Ended
Jun. 30, 2021
DERIVATIVE FINANCIAL INSTRUMENTS
NOTE 6- DERIVATIVE FINANCIAL INSTRUMENTSNOTE 6 -DERIVATIVE FINANCIAL INSTRUMENTS The Company previously adopted the provisions of ASC subtopic 825-10, Financial Instruments The derivative liability as of June 30, 2021, in the amount of $4,783,379 has a level 3 classification under ASC 825-10. The following table provides a summary of changes in fair value of the Company’s Level 3 financial liabilities as of June 30, 2021. Debt Derivative Liabilities Balance, December 31, 2019 $ 8,836,514 Change in derivative liabilities from conversion of notes payable (1,144,290 ) Change in derivative liabilities from the Odyssey conversion to a term loan (1,286,762 ) Change in fair value of derivative liabilities for the period – derivative expense (1,140,323 ) Balance, December 31, 2020 $ 5,265,139 Initial fair value of derivative liabilities during the period 77,897 Reclassification of certain derivative liabilities (185,108 ) Change in fair value of derivative liabilities for period – derivative expense (374,549 ) Balance, June 30, 2021 $ 4,783,379 Convertible notes payable and warrant derivatives – As of June 30, 2021, the Company marked to market the fair value of the debt derivatives and determined a fair value of $4,783,379 ($4,774,388 from the convertible notes and $8,991 from warrants) in Note 5 (2) above. The Company recorded a gain from change in fair value of debt derivatives of $374,549 for the six months ended June 30, 2021. The fair value of the embedded derivatives was determined using Monte Carlo simulation method based on the following assumptions: (1) dividend yield of 0%, (2) expected volatility of 129.2% to 292.3%, (3) weighted average risk-free interest rate of 0.5% to 0.46% (4) expected life of 0.25 to 2.947 years, and (5) the quoted market price of $0.039 to $0.039 for the Company’s common stock.

STOCKHOLDERS' DEFICIT

STOCKHOLDERS' DEFICIT6 Months Ended
Jun. 30, 2021
Stockholders Equity Abstract
NOTE 7- STOCKHOLDERS' DEFICITNOTE 7 - STOCKHOLDERS' DEFICIT Preferred Stock As of June 30, 2021, we had authorized 100,000,000 shares of Preferred Stock, of which certain shares had been designated as Series A Preferred Stock, Series B Preferred Stock, Series C and Series D Preferred Stock. During the prior year ended December 31, 2020, the Series A Preferred Stock and the Series B Preferred Stock were reclassified as mezzanine equity as a result of the Company not having enough authorized common shares to be able to issue common shares upon their conversion. The Series C and D Preferred Stock are also classified as mezzanine equity for the same reason. Series A Convertible Preferred Stock In February 2015, the Company designated 1,000,000 shares of Preferred Stock as Series A Preferred Stock. In February 2015, the Board of Directors authorized the issuance of 1,000,000 shares of Series A Preferred Stock to Stephen Thomas, Chairman, CEO and President of the Company, valued at $3,117,000 for compensation expense. The Series A Preferred Stock was designated in February 2016, has a par value of $.001, is redeemable at the Company’s option at $100 per share, is senior to any other class or series of outstanding Preferred Stock or Common Stock and does not bear dividends. The Series A Preferred Stock has a liquidation preference immediately after any Senior Securities, as defined and amended, of an amount equal to amounts payable owing, including contingency amounts where Holders of the Series A have personally guaranteed obligations of the Company. Holders of the Series A Preferred Stock shall, collectively have the right to convert all of their Series A Preferred Stock when conversion is elected into that number of shares of Common Stock of the Company, determined by the following formula: 60% of the issued and outstanding Common Shares as computed immediately after the transaction for conversion. For further clarification, the 60% of the issued and outstanding common shares includes what the holders of the Series A Preferred Stock may already hold in common shares at the time of conversion. The Series A Preferred Stock, collectively, shall have the right to vote as if converted prior to the vote to a number of shares equal to 60% of the outstanding Common Stock of the Company. During the year ended December 31, 2020, the Series A Preferred Stock was reclassified as mezzanine equity as a result of the Company not having enough authorized common shares to be able to issue common shares upon their conversion. Series B Convertible Preferred Stock In February 2015, the Company designated 3,000,000 shares of Preferred Stock as Series B Convertible Preferred Stock. The Series B Preferred Stock was designated in February 2015, has a par value of $.001, is not redeemable, is senior to any other class or series of outstanding Preferred Stock, except the Series A Preferred Stock, or Common Stock and does not bear dividends. The Series B Preferred Stock has a liquidation preference immediately after any Senior Securities, as defined and currently the Series A Preferred Stock, and of an amount equal to $2.00 per share. Holders of the Series B Preferred Stock have a right to convert all or any part of the Series B Preferred Shares and will receive and equal number of common shares at the conversion price of $2.00 per share. The Series B Preferred Stockholders have a right to vote on any matter with holders of Common Stock and shall have a number of votes equal to that number of Common Shares on a one to one basis. There are 2,588,693 shares of Series B Convertible Preferred Stock outstanding as of June 30, 2021. During the year ended December 31, 2020, the Series B Preferred Stock was reclassified as mezzanine equity as a result of the Company not having enough authorized common shares to be able to issue common shares upon their conversion. Series C Convertible Preferred Stock In May 2018, the Company designated 3,000,000 shares of Preferred Stock as Series C Convertible Preferred Stock. The Series C Preferred Stock has a par value of $.001, is not redeemable, is senior to any other class or series of outstanding Preferred Stock, except the Series A and Series B Preferred Stock, or Common Stock and does not bear dividends. The Series C Preferred Stock has a liquidation preference immediately after any Senior Securities, as defined and currently the Series A and B Preferred Stock, and of an amount equal to $2.00 per share. Holders of the Series C Preferred Stock have a right to convert all or any part of the Series C Preferred Shares and will receive an equal number of common shares at the conversion price of $0.15 per share. The Series C Preferred Stockholders have a right to vote on any matter with holders of Common Stock and shall have a number of votes equal to that number of Common Shares on a one to one basis. There are no shares of Series C Convertible Preferred Stock outstanding as of June 30, 2021. There are approximately $678,500 in convertible notes payable convertible into Series C Convertible Preferred Stock which compromise some of the common stock equivalents calculated in Note 1. Series D Convertible Preferred Stock On June 15, 2020, the Company amended its Series D Designation from January 14, 2020. This Amendment changed the number of shares to 10,000,000 shares of the authorized 100,000,000 shares of the Company's $0.001 par value preferred stock as the Series D Convertible Preferred Stock (“the Series D Preferred Shares.”) Series D Preferred shares have the following features: (i) 6% Cumulative Annual Dividends payable on the purchase value in cash or common stock of the Company at the discretion of the Board and payment is also at the discretion of the Board, which may decide to cumulate to future years; (ii) Any time after 18 months from issuance an option to convert to common stock at the election of the holder 80% of the 30 day average market closing price (for previous 30 business days) divided into $5.00. ; (iii) Automatic conversion of the Series D Preferred Stock shall occur without consent of holders upon any national exchange listing approval and the registration effectiveness of common stock underlying the conversion rights. The automatic conversion to common from Series D Preferred shall be on a one for one basis, which shall be post-reverse split as may be necessary for any Exchange listing (iv) Registration Rights – the Company has granted Piggyback Registration Rights for common stock underlying conversion rights in the event it files any other Registration Statement (other than an S-1 that the Company may file for certain conversion common shares for the convertible note financing that was arranged and funded in 2019). Further, the Company will file, and pursue to effectiveness, a Registration Statement or offering statement for common stock underlying the Automatic Conversion event triggered by an exchange listing. (v) Liquidation Rights - $5.00 per share plus any accrued unpaid dividends – subordinate to Series A, B, and C Preferred Stock receiving full liquidation under the terms of such series. The Company has redemption rights for the first year following the Issuance Date to redeem all or part of the principal amount of the Series D Preferred Stock at between 115% and 140%. During the six months ended June 30, 2021, 46,649 shares of Series D Preferred Share were purchased for $233,244 of which Stephen Thomas, CEO of the Company, acquired 36,649 for $183,244. The remainder of the shares purchased as of June 30, 2021 were purchased by a third party. During the year ended December 31, 2020, the related party holders of approximately $4,700,000 of existing financing arrangements agreed to exchange their debt and accrued interest for 940,800 Series D Preferred Stock through a separate $12 Million Private Placement of Series D Preferred Stock (“$12 Million Private Placement”), conditioned on the Company raising at least $12,000,000. To date, this condition has not been met. Common Stock As of June 30, 2021, we had authorized 1,000,000,000 shares of Common Stock, of which 879,029,038 common shares are issued and outstanding. Common Stock Purchase Agreement On May 28, 2021, the Company entered into a Common Stock Purchase Agreement (“Purchase Agreement”) and Registration Rights Agreement (“Registration Rights Agreement”) with White Lion Capital, LLC, a Nevada limited liability company (“White Lion”). Under the terms of the Purchase Agreement, White Lion agreed to provide the Company with up to $5,000,000 upon effectiveness of a registration statement on Form S-1 (the “Registration Statement”) filed with the U.S. Securities and Exchange Commission (the “Commission”). A Form S-1 was filed on June 30, 2021 regarding this transaction. Subsequent Amendments to Forms S-1 related to this transaction were filed on July 6, 2021 and July 14, 2021. The registrations statement was declared effective July 19, 2021. The Company has the discretion to deliver purchase notice to White Lion and White Lion will be obligated to purchase shares of the Company’s common stock, par value $0.001 per share (the “Common Stock”) based on the investment amount specified in each purchase notice. The maximum amount of the Purchase Notice shall be the lesser of: (i) 200% of the Average Daily Trading Volume or (ii) the Investment Limit divided by the highest closing price of the Common Stock over the most recent five (5) Business Days including the respective Purchase Date. Notwithstanding the forgoing, the Investor may waive the Purchase Notice Limit at any time to allow the Investor to purchase additional shares under a Purchase Notice. Pursuant to the Purchase Agreement, White Lion and its affiliates will not be permitted to purchase and the Company may not put shares of the Company’s Common Stock to White Lion that would result in White Lion’s beneficial ownership equaling more than 9.99% of the Company’s outstanding Common Stock. The price of each purchase share shall be equal to eighty-five percent (85%) of the Market Price (as defined in the Purchase Agreement). Purchase Notices may be delivered by the Company to White Lion until the earlier of seven (7) months (until December 31, 2021) or the date on which White Lion has purchased an aggregate of $5,000,000 worth of Common Stock under the terms of the Purchase Agreement. In August 2021, the Company has given purchase notices for 9,000,000 shares of common stock under the Purchase Agreement and has received proceeds of $83,420, net of expenses. There are another 10,000,000 shares that have been moved to escrow in the name of White Lion waiting for the next purchase notice. Subscription (Receivable) Payable As of June 30, 2021, the Company has recorded $(3,265) in stock subscription receivable which represents shares receivable under prior terminated acquisition agreement of 3,096,181 shares of common stock. During 2018, a note payable of $2,000 was forgiven for 16,667 common shares. 2,000 of these shares were issued during the year ended December 31, 2020. The remainder were issued during the six months ended June 30, 2021. During the year ended December 31, 2020, the Company signed consulting agreements related to their activities with TPT Global Tech and TPT MedTech with three third parties for which we agreed to issue 4,450,000 shares of restricted common stock. 300,000 of these shares were valued at fair value and expensed in the statement of operations for $16,200. The other 4,150,000 shares were value at their value of $275,975 which is being amortized over 10 months of service starting on the date of the agreement of September 1, 2020. $165,586 has been amortized into the statement of operations for the six months ended June 30, 2021. In 2018, Arkady Shkolnik and Reginald Thomas (family member of CEO) were added as members of the Board of Directors. In accordance with agreements with the Company for his services as a director, Mr. Shkolnik is to receive $25,000 per quarter and 5,000,000 shares of restricted common stock valued at approximately $692,500 vesting quarterly over twenty-four months. The quarterly cash payments of $25,000 will be paid in unrestricted common shares if the Company has not been funded adequately to make such payments. Mr. Thomas is to receive $10,000 per quarter and 1,000,000 shares of restricted common stock valued at approximately $120,000 vesting quarterly over twenty-four months. The quarterly payment of $10,000 may be suspended by the Company if the Company has not been adequately funded. As of June 30, 2021, $215,500 and $75,000 has been accrued as accounts payable in the balance sheet for Mr. Shkolnik and Mr. Thomas, respectively. For the six months ended June 30, 2021 and 2020, $0 and $203,124, respectively, have been expensed under these agreements. Effective November 1, 2017, the Company entered into an agreement to acquire Hollywood Rivera, LLC (“HRS”). In March 2018, the HRS acquisition was rescinded and 3,625,000 shares of common stock, which were issued as part of the transaction, are being returned by the recipients. As such, as of June 30, 2021 the 3,265,000 shares for the HRS transaction are reflected as subscriptions receivable based on their par value. Common Stock Issued During Six Months ended June 30, 2021 Effective September 30, 2020, we entered into a Purchase Agreement by which we agreed to purchase the 500,000 outstanding Series A Preferred shares of InnovaQor, Inc., our majority owned subsidiary, in an agreed amount of $350,000 in cash or common stock, if not paid in cash, at the five day average price preceding the date of the request for effectiveness after the filing of a registration statement on Form S-1. This was modified December 28 and 29, 2020, to provide for registration of 7,500,000 common shares for resale at the market price. Any balance due on notes will be calculated after an accounting for the net sales proceeds from sale of the stock by February 28, 2021 and may be paid in cash or stock thereafter. The Series A Preferred shares are being purchased from the Michael A. Littman, Atty. Defined Benefit Plan. Effective September 30, 2020, we entered into a Settlement Agreement to settle outstanding legal fees due to date in the amount of $74,397 (as assigned to the Michael A. Littman Atty. Defined Benefit Plan.) The number of shares to be issued in consideration is to be computed at the five day average price as specified under Rule 474 under the Securities Act of 1933 for the 5 days preceding the date of the request for acceleration of the effective date of this registration of our common shares to be issued. (This may also be fully settled by payment of the sum of $74,397 in cash at any time prior to the issuance of the shares of stock of the Company.) This was modified December 28 and 29, 2020, to provide for registration of 7,500,000 common shares for resale at the market price. Any balance due on notes will be calculated after an accounting for the net sales proceeds from sale of the stock by February 28, 2021 and may be paid in cash or stock thereafter. The 7,500,000 shares identified in these agreements with Mr. Littman were issued during the six months ended June 30, 2021 and included in a Form S-1 filed and declared effective in January 2021. We were informed by Mr. Littman that all the shares issued under these agreements have been sold resulting in a shortfall of $185,107 which has been included in accounts payable at June 30, 2021. Another 5,964,667 common shares were issued during the six months ended June 30, 2021 which primarily related to services rendered for consulting arrangements with the Company. During the three and six months ended June 31, 2021, $127,441 and $209,685 were included in the statement of operations as expenses related to these stock issuances. Stock Options Options Outstanding Vested Vesting Period Exercise Price Outstanding and Exercisable Expiration Date December 31, 2019 3,000,000 3,000,000 12 to 18 months $ 0.10 3-1-20 to 3-21-21 Expired (2,000,000 ) December 31, 2020 1,000,000 1,000,000 12 months $ 0.10 3-21-21 Expired (1,000,000 ) June 30, 2021 - - - - - Warrants As of June 30, 2021, there were 3,333,333 warrants outstanding that expire in five years or in the year ended December 31, 2024. As part of the Convertible Promissory Notes payable – third party issuance in Note 5, the Company issued 3,333,333 warrants to purchase 3,333,333 common shares of the Company at 70% of the current market price. Current market price means the average of the three lowest trading prices for our common stock during the ten-trading day period ending on the latest complete trading day prior to the date of the respective exercise notice. The warrants issued were considered derivative liabilities valued at $8,991 of the total $4,783,379 derivative liabilities as of June 30, 2021. See Note 6. Common Stock Reservations The Company has reserved 1,000,000 shares of Common Stock of the Company for the purpose of raising funds to be used to pay off debt described in Note 5. We have reserved 20,000,000 shares of Common Stock of the Company to grant to certain employee and consultants as consideration for services rendered and that will be rendered to the Company. There are Transfer Agent common stock reservations that have been approved by the Company relative to the outstanding derivative financial instruments, the outstanding Form S-1 Registration Statement and general treasury of approximately 90,000,000 common shares. Non-Controlling Interests QuikLAB Mobile Laboratories In July and August 2020, the Company formed Quiklab 1 LLC, QuikLAB 2, LLC, QuikLAB 3, LLC and QuikLAB 4, LLC. It is the intent to use these entities as vehicles into which third parties would invest and participate in owning QuikLAB Mobile Laboratories. As of December 31, 2020, Quiklab 1 LLC, QuikLAB 2, LLC and QuikLAB 3, LLC have received an investment of $460,000, of which Stephen Thomas and Rick Eberhardt, CEO and COO of the Company, have invested $100,000 in QuikLAB 2, LLC. The third party investors and Mr. Thomas and Mr. Eberhart, will benefit from owning 20% of QuikLAB Mobile Laboratories specific to their investments. The Company owns the other 80% ownership in the QuickLAB Mobile Laboratories. The net loss attributed to the non-controlling interests from the QuikLAB Mobile Laboratories included in the statement of operations for the three and six months ended June 30, 2021 is $18,841 and $40,223, repectively. Other Non-Controlling Interests TPT Strategic, Aire Fitness and TPT Asia are other non-controlling interests in which the Company owns 94%, 75% and 78%, respectively. There is very little activity in any of these entities. The net loss attributed to these non-controlling interests included in the statement of operations for the three and six months ended June 30, 2021 is $23,407 and $29,051, respectively. TPT Strategic did a reverse merger with Southern Plains of which there ended up being a non-controlling interest ownership of 6% as of December 31, 2020. As a result, $219,058 in the non-controlling interest in liabilities of a license agreement valued at $3,500,000 was reflected in the consolidated balance sheet as of December 31, 2020. This was reversed during the six months ended June 30, 2021 when the liabilities under the license agreement were terminated by mutual agreement.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES6 Months Ended
Jun. 30, 2021
COMMITMENTS AND CONTINGENCIES
NOTE 8- COMMITMENTS AND CONTINGENCIESNOTE 8 - COMMITMENTS AND CONTINGENCIES Accounts Payable and Accrued Expenses Accounts payable: 2021 2020 Related parties (1) $ 1,342,038 $ 1,339,352 General operating 5,508,346 3,965,135 Accrued interest on debt (2) 1,721,047 1,328,939 Credit card balances 173,406 173,972 Accrued payroll and other expenses 217,178 296,590 Taxes and fees payable 641,555 641,012 Unfavorable lease liability 60,582 121,140 Total $ 9,664,153 $ 7,866,140 _______________ (1) Relates to amounts due to management and members of the Board of Directors according to verbal and written agreements that have not been paid as of period end. (2) Portion relating to related parties is $785,559 and $679,380 for June 30, 2021 and December 31, 2020, respectively Operating lease obligations The Company adopted Topic 842 on January 1, 2019. The Company elected to adopt this standard using the optional modified retrospective transition method and recognized a cumulative-effect adjustment to the consolidated balance sheet on the date of adoption. Comparative periods have not been restated. With the adoption of Topic 842, the Company’s consolidated balance sheet now contains the following line items: Operating lease right-of-use assets, Current portion of operating lease liabilities and Operating lease liabilities, net of current portion. As all the existing leases subject to the new lease standard were previously classified as operating leases by the Company, they were similarly classified as operating leases under the new standard. The Company has determined that the identified operating leases did not contain non-lease components and require no further allocation of the total lease cost. Additionally, the agreements in place did not contain information to determine the rate implicit in the leases, so we used our estimated incremental borrowing rate as the discount rate. Our weighted average discount rate is 10.0% and the weighted average lease term of 4.54 years. We have various non-cancelable lease agreements for certain of our tower locations with original lease periods expiring between 2021 and 2044. Our lease terms may include options to extend or terminate the lease when it is reasonably certain we will exercise that option. Certain of the arrangements contain escalating rent payment provisions. Our Michigan main office lease and an equipment lease described below and leases with an initial term of twelve months have not been recorded on the consolidated balance sheets. We recognize rent expense on a straight-line basis over the lease term. As of June 30, 2021 and December 31, 2020, operating lease liabilities arising from operating leases were $6,592,385 and $5,555,674, respectively. During the six months ended June 30, 2021, cash paid for amounts included for the measurement of lease liabilities was $565,506 and the Company recorded lease expense in the amount of $1,370,787 in cost of sales. The Company entered into an operating lease agreement for location rights for certain QuikLABS. The operating lease agreement started October 1, 2020 and goes for three years at $9,798 per month. In addition, the Company entered an operating agreement to lease colocation space for 5 years. This operating agreement started October 1, 2020 for 7,140 per month. The following is a schedule showing the future minimum lease payments under operating leases by years and the present value of the minimum payments as of June 30, 2021. 2021 $ 2,703,312 2022 1,855,230 2023 1,290,039 2024 960,126 2025 601,834 Thereafter 157,306 Total operating lease liabilities 7,567,849 Amount representing interest (975,464 ) Total net present value $ 6,592,385 Office lease used by CEO The Company entered into a lease of 12 months or less for living space which is occupied by Stephen Thomas, Chairman, CEO and President of the Company. Mr. Thomas lives in the space and uses it as his corporate office. The company has paid $1,500 and $15,000 in rent and utility payments for this space for the six months ended June 30, 2021 and 2020, respectively. Financing lease obligations Future minimum lease payments are as follows: 2021 $ 864,025 2022 10,780 2023 - 2024 - 2025 - Thereafter - Total financing lease liabilities 874,805 Amount representing interest (23,246 ) Total future payments (1)(2) $ 851,559 ____________________ (1) Included is a Telecom Equipment Lease is with an entity owned and controlled by shareholders of the Company and was due August 31, 2020, as amended. (2) Also included are leases under Xroads Equipment Agreements with a third party that allows the Company to pay between $10,780 and $11,288 per month, including interest, starting between November 16, 2020 and February 22, 2021 for eleven months with a $1 value acquisition price at the termination of the leases. Other Commitments and Contingencies Employment Agreements The Company has employment agreements with certain employees of SDM, K Telecom and Aire Fitness. The agreements are such that SDM, K Telecom and Aire Fitness, on a standalone basis in each case, must provide sufficient cash flow to financially support the financial obligations within the employment agreements. On May 6, 2020, the Company entered into an agreement to employ Ms. Bing Caudle as Vice President of Product Development of the Media One Live platform for an annual salary of $250,000 for five years, including customary employee benefits. The payment is guaranteed for five years whether or not Ms. Caudle is dismissed with cause. Litigation We have been named in a lawsuit by EMA Financial, LLC (“EMA”) for failing to comply with a Securities Purchase Agreement entered into in June 2019. More specifically, EMA claims the Company failed to honor notices of conversion, failed to establish and maintain share reserves, failed to register EMA shares and by failed to assure that EMA shares were Rule 144 eligible within 6 months. EMA has claimed in excess of $650,975 in relief. The Company has filed an answer and counterclaim. The Company does not believe at this time that any negative outcome would result in more than the $725,452 it has recorded on its balance sheet as of June 30, 2021. A lawsuit was filed in Michigan by the one of the former owners of SpeedConnect, LLC, John Ogren. Mr. Ogren claimed he was owed back wages related to the acquisition agreement wherein the Company acquired the assets of SpeedConnect, LLC and kept him on through a consulting agreement. The Company’s position was that he ultimately resigned in writing and was not due any back wages. In August 2021, Mr. Ogren was awarded $334,908 in back wages by an Arbitrator. This amount has been included in accounts payable as of June 30, 2021 and expensed in the statement of operations as other expenses in the six months ended June 30, 2021. The Company has been named in a lawsuit, Robert Serrett vs. TruCom, Inc., by a former employee who was terminated by management in 2016. The employee was working under an employment agreement but was terminated for breach of the agreement. The former employee is suing for breach of contract and is seeking around $75,000 in back pay and benefits. We recently learned that Mr. Serrett received a default judgement in Texas on May 15, 2018 for $70,650 plus $3,500 in attorney fees and 5% interest and court costs. However, he has made no attempt that we are aware of to obtain a sister state judgment in Arizona, where Trucom resides, or to try and enforce the judgement and collect. Management believes it has good and meritorious defenses and does not belief the outcome of the lawsuit will have any material effect on the financial position of the Company. We are not currently involved in any litigation that we believe could have a material adverse effect on our financial condition or results of operations. There is no action, suit, proceeding, inquiry or investigation before or by any court, public board, government agency, self-regulatory organization or body pending or, to the knowledge of the executive officers of our company or any of our subsidiaries, threatened against or affecting our company, our common stock, any of our subsidiaries or of our companies or our subsidiaries’ officers or directors in their capacities as such, in which an adverse decision could have a material adverse effect. We anticipate that we (including current and any future subsidiaries) will from time to time become subject to claims and legal proceedings arising in the ordinary course of business. It is not feasible to predict the outcome of any such proceedings and we cannot assure that their ultimate disposition will not have a materially adverse effect on our business, financial condition, cash flows or results of operations. Customer Contingencies The Company has collected $338,725 from one customer in excess of amounts due from that customer in accordance with the customer’s understanding of the appropriate billings activity. The customer has filed a written demand for repayment by the Company of these amounts. Management believes that the customer agreement allows them to keep the amounts under dispute. Given the dispute, the Company has reflected the amounts in dispute as a customer liability on the consolidated balance sheet as of June 30, 2021 and December 31, 2020. Stock Contingencies The Company has convertible debt, preferred stock, options and warrants outstanding for which common shares would be required to be issued upon exercise by the holders. As of June 30, 2021, the following shares would be issued: Convertible Promissory Notes 421,447,906 Series A Preferred Stock (1) 1,279,184,625 Series B Preferred Stock 2,588,693 Series D Preferred Stock (2) 21,050,993 Stock Options and Warrants 3,333,333 1,727,605,549 ___________ (1) Holder of the Series A Preferred Stock which is Stephen J. Thomas, is guaranteed 60% of outstanding common stock upon conversion. The Company would have to authorize additional shares for this to occur as only 1,000,000,000 shares are currently authorized. (2) Holders of the Series D Preferred Stock may decide after 18 months to convert to common stock 80% of the 30 day average market closing price (for previous 30 business days) divided into $5.00. There is also an automatic conversion of the Series D Preferred Stock without consent of holders upon any national exchange listing approval and the registration effectiveness of common stock underlying the conversion rights. The automatic conversion to common from Series D Preferred shall be on a one for one basis. During the fourth quarter of 2020, the related party holders of approximately $4,700,000 of existing financing arrangements agreed to exchange their debt and accrued interest for Series D Preferred Stock through a separate $12 Million Private Placement, conditioned on the Company raising at least $12,000,000 in a separate Form 1-A Offering. Part of the consideration in the acquisition of Aire Fitness was the issuance of 500,000 restricted common shares of the Company vesting and issuable after the common stock reaches at least a $1.00 per share closing price in trading. To date, this has not occurred but may happen in the future upon which the Company will issue 500,000 common shares to the non-controlling interest owners of Aire Fitness.

RELATED PARTY ACTIVITY

RELATED PARTY ACTIVITY6 Months Ended
Jun. 30, 2021
RELATED PARTY ACTIVITY
NOTE 9- RELATED PARTY ACTIVITYNOTE 9 – RELATED PARTY ACTIVITY Accounts Payable and Accrued Expenses There are amounts outstanding due to related parties of the Company of $1,342,038 and $1,339,352, respectively, as of June 30, 2021 and December 31, 2020 related to amounts due to employees, management and members of the Board of Directors according to verbal and written agreements that have not been paid as of period end which are included in accounts payable and accrued expenses on the balance sheet. See Note 8. As is mentioned in Note 7, Reginald Thomas was appointed to the Board of Directors of the Company in August 2018. Mr. Thomas is the brother to the CEO Stephen J. Thomas III. According to an agreement with Mr. Reginald Thomas, he is to receive $10,000 per quarter and 1,000,000 shares of restricted common stock valued at approximately $120,000 vesting quarterly over twenty-four months. The quarterly payment of $10,000 may be suspended by the Company if the Company has not been adequately funded. Leases See Note 8 for office lease used by CEO. Debt Financing and Amounts Payable As of June 30, 2021, there are amounts due to management/shareholders included in financing arrangements, of which $88,520 is payable from the Company to Stephen J. Thomas III, CEO of the Company. See note 5. Revenue Transactions and Accounts Receivable During the six months ended June 30, 2021, Blue Collar provided production services to an entity controlled by the Blue Collar CEO (355 LA, LLC or “355”) for which it recorded revenues of $0 and $235,149, respectively, and had accounts receivable outstanding as of June 30, 2021 and December 31, 2020 of $0 and $0, respectively, which is included in accounts receivable on the consolidated balance sheet. 355 was formed in October 2019 by the CEO of Blue Collar for the purpose of production of certain additional footage for a 355 customer. 355 has opportunity to engage with other production relationships outside of using Blue Collar. Other Agreements On April 17, 2018, the CEO of the Company, Stephen Thomas, signed an agreement with New Orbit Technologies, S.A.P.I. de C.V., a Mexican corporation, (“New Orbit”), majority owned and controlled by Stephen Thomas, related to a license agreement for the distribution of TPT licensed products, software and services related to Lion Phone and ViewMe Live within Mexico and Latin America (“License Agreement”). The License Agreement provides for New Orbit to receive a fully paid-up, royalty-free, non-transferable license for perpetuity with termination only under situations such as bankruptcy, insolvency or material breach by either party and provides for New Orbit to pay the Company fees equal to 50% of net income generated from the applicable activities. The transaction was approved by the Company’s Board of Directors in June 2018. There has been no activity on this agreement.

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS6 Months Ended
Jun. 30, 2021
GOODWILL AND INTANGIBLE ASSETS
NOTE 10- GOODWILL AND INTANGIBLE ASSETSNOTE 10 – GOODWILL AND INTANGIBLE ASSETS Goodwill and intangible assets are comprised of the following: June 30, 2021 Gross carrying amount (1) Accumulated Amortization Net Book Value Useful Life Customer Base $ 938,000 $ (259,065 ) $ 678,935 3-10 Developed Technology 4,595,600 (1,872,287 ) 2,723,313 9 Film Library 957,000 (213,200 ) 743,800 11 Trademarks and Tradenames 132,000 (32,535 ) 99,465 12 Favorable leases 95,000 (67,840 ) 27,160 3 Other 76,798 (3,840 ) 72,958 10 6,794,398 (2,448,767 ) 4,345,631 Goodwill $ 768,091 $ - $ 768,091 Amortization expense was $369,310 and $365,470 for the six months ended June 30, 2021 and 2020, respectively. December 31, 2020 Gross carrying amount Accumulated Amortization Net Book Value Useful Life Customer Base $ 938,000 (207,771 ) $ 730,229 3-10 Developed Technology 4,595,600 (1,616,975 ) 2,978,625 9 Film Library 957,000 (177,100 ) 779,900 11 Trademarks and Tradenames 132,000 (26,731 ) 105,269 12 Favorable leases 95,000 (50,880 ) 44,120 3 Other 76,798 - 76,798 Total intangible assets, net $ 6,794,398 (2,079,457 ) $ 4,714,941 Goodwill $ 768,091 - $ 768,091 Remaining amortization of the intangible assets is as following for the next five years and beyond: 2021 $ 389,744 2022 730,059 2023 719,859 2024 719,859 2025 719,859 Thereafter 1,066,251 $ 4,345,631

SEGMENT REPORTING

SEGMENT REPORTING6 Months Ended
Jun. 30, 2021
Note 11 - SEGMENT REPORTINGNOTE 11 – SEGMENT REPORTING ASC 280, “Segment Reporting”, establishes standards for reporting information about operating segments on a basis consistent with the Company's internal organizational structure as well as information about geographical areas, business segments and major customers in financial statements for details on the Company's business segments. The Company's chief operating decision maker (“CODM”) has been identified as the CEO who reviews the financial information of separate operating segments when making decisions about allocating resources and assessing performance of the group. Based on management's assessment, the Company considers its most significant segments for 2021 and 2020 are those in which it is providing Broadband Internet through TPT SpeedConnect and Media Production services through Blue Collar Medical Testing services through TPT MedTech and QuikLABs. 2021 TPT Speed Connect Blue Collar TPT Corporate and other Total Revenue $ 1,959,818 $ 511,454 $ 81,458 $ 26,490 $ 2,579,180 Cost of sales $ (1,520,612 ) $ (212,565 ) $ (384,233 ) $ (72,231 ) $ (2,189,641 ) Net income (loss) $ (355,593 ) $ 134,320 $ (610,830 ) $ (1,339,095 ) $ (2,171,198 ) Total assets $ 9,473,626 $ 1,242,360 $ 483,597 $ 1,287,285 $ 12,486,868 Depreciation and amortization $ (153,093 ) $ (27,834 ) $ - $ (168,070 ) $ (348,997 ) Derivative gain $ - $ - $ - $ 189,274 $ 189,274 Interest expense $ (145,465 ) $ (6,071 ) $ - $ (257,707 ) $ (409,243 ) 2020 TPT SpeedConnect Blue Collar Corporate and other Total Revenue $ 2,556,832 $ 172,687 $ 27,252 $ 2,756,771 Cost of revenue $ (1,510,706 ) $ (140,743 ) $ 23,189 $ (1,628,260 ) Net income (loss) $ 455,583 $ (187,860 ) $ 2,202,487 $ 2,470,210 Total assets $ 6,941,344 $ 420,298 $ 8,084,489 $ 15,446,131 Depreciation and amortization $ (112,794 ) $ (37,112 ) $ (292,793 ) $ (442,699 ) Derivative expense $ - $ - $ 3,496,653 $ 3,496,653 Interest expense $ (26,449 ) $ (9,426 ) $ (251,469 ) $ (287,344 ) The following tables present summary information by segment for the six months ended June 30, 2021 and 2020 respectively: 2021 TPT SpeedConnect Blue Collar TPT Corporate and other Total Revenue $ 4,050,224 $ 711,454 $ 457,108 $ 72,744 $ 5,291,530 Cost of sales $ (3,138,744 ) $ (335,830 ) $ (766,208 ) $ (110,513 ) $ (4,351,295 ) Net income (loss) $ (600,055 ) $ 30,906 $ (1,051,268 ) $ (2,263,833 ) $ (3,884,250 ) Total assets $ 9,473,626 $ 1,242,360 $ 483,597 $ 1,287,285 $ 12,486,868 Depreciation and amortization $ (301,640 ) $ (55,668 ) $ - $ (331,705 ) $ (689,013 ) Derivative gain $ - $ - $ - $ 374,549 $ 374,549 Interest expense $ (335,934 ) $ (14,343 ) $ - $ (449,845 ) $ (800,122 ) 2020 TPT SpeedConnect Blue Collar Corporate and other Total Revenue $ 5,264,486 $ 526,092 $ 42,166 $ 5,832,744 Cost of revenue $ 3,228,092 $ 288,838 $ 220,747 $ 3,737,677 Net income (loss) $ 742,373 $ (245,955 ) $ (2,992,406 ) $ (2,495,988 ) Depreciation and amortization $ 239,988 $ 64,946 $ 577,903 $ 882,837 Derivative expense $ - $ - $ 400,019 $ 400,019 Interest expense $ 80,453 $ 19,644 $ 734,004 $ 834,101

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS6 Months Ended
Jun. 30, 2021
SUBSEQUENT EVENTS
NOTE 12- SUBSEQUENT EVENTSNOTE 12 – SUBSEQUENT EVENTS Stock Purchase Agreement On May 28, 2021, the Company entered into a Common Stock Purchase Agreement (“Purchase Agreement”) and Registration Rights Agreement (“Registration Rights Agreement”) with White Lion Capital, LLC, a Nevada limited liability company (“White Lion”). Under the terms of the Purchase Agreement, White Lion agreed to provide the Company with up to $5,000,000 upon effectiveness of a registration statement on Form S-1 (the “Registration Statement”) filed with the U.S. Securities and Exchange Commission (the “Commission”). A Form S-1 was filed on June 30, 2021 regarding this transaction. Subsequent Amendments to Forms S-1 related to this transaction were filed on July 6, 2021 and July 14, 2021. The registrations statement was declared effective July 19, 2021. The Company has the discretion to deliver purchase notice to White Lion and White Lion will be obligated to purchase shares of the Company’s common stock, par value $0.001 per share (the “Common Stock”) based on the investment amount specified in each purchase notice. The maximum amount of the Purchase Notice shall be the lesser of: (i) 200% of the Average Daily Trading Volume or (ii) the Investment Limit divided by the highest closing price of the Common Stock over the most recent five (5) Business Days including the respective Purchase Date. Notwithstanding the forgoing, the Investor may waive the Purchase Notice Limit at any time to allow the Investor to purchase additional shares under a Purchase Notice. Pursuant to the Purchase Agreement, White Lion and its affiliates will not be permitted to purchase and the Company may not put shares of the Company’s Common Stock to White Lion that would result in White Lion’s beneficial ownership equaling more than 9.99% of the Company’s outstanding Common Stock. The price of each purchase share shall be equal to eighty-five percent (85%) of the Market Price (as defined in the Purchase Agreement). Purchase Notices may be delivered by the Company to White Lion until the earlier of seven (7) months (until December 31, 2021) or the date on which White Lion has purchased an aggregate of $5,000,000 worth of Common Stock under the terms of the Purchase Agreement. In August 2021, the Company has given purchase notices for 9,000,000 shares of common stock under the Purchase Agreement and has received proceeds of $83,420, net of expenses. There are another 10,000,000 shares that have been moved to escrow in the name of White Lion waiting for the next purchase notices. Financing Arrangements On July 23, 2021, the Company entered into an Agreement for the Purchase and Sale of Future Receipts (“Lendora Factoring Agreement”). The balance to be purchased and sold is $299,800 for which the Company received $190,000, net of fees. Under the Lendora Factoring Agreement, the Company is to pay $18,737.5 per week for 16 weeks at an effective interest rate of approximately 36% annually. The Lendora Factoring Agreement includes a guaranty by the CEO of the Company, Stephen J. Thomas III. On July 23, 2021, the Company entered into a consolidation agreement for the Purchase and Sale of Future Receipts with Lendora Capital (“Lendora Consolidation Agreement”). The balance to be purchased and sold gave consideration for all then outstanding factoring agreements such as the NewCo Factoring Agreements, the NewCo Factoring Agreement #3 and the Lendora Factoring Agreement and amounted to 1,522,984 for which the Company had outstanding balances totaling $1,016,000. Payments under this Lendora Consolidation Agreement supercedes all other factoring agreement payments and includes $ 31,728.85 per week, at an effective interest rate of approximately 36% annually, for 48 weeks. The QFS Factoring Agreement includes a guaranty by the CEO of the Company. Litigation A lawsuit was filed in Michigan by the one of the former owners of SpeedConnect, LLC, John Ogren. Mr. Ogren claimed he was owed back wages related to the acquisition agreement wherein the Company acquired the assets of SpeedConnect, LLC and kept him on through a consulting agreement. The Company’s position was that he ultimately resigned in writing and was not due any back wages. In August 2021, Mr. Ogren was awarded $334,908 in back wages by an Arbitrator. This amount has been included in accounts payable as of June 30, 2021 and expensed in the statement of operations as other expenses in the six months ended June 30, 2021. Subsequent events were reviewed through the date the financial statements were issued.

DESCRIPTION OF BUSINESS AND S_2

DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)6 Months Ended
Jun. 30, 2021
DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Nature of OperationsThe Company was originally incorporated in 1988 in the state of Florida. TPT Global, Inc., a Nevada corporation formed in June 2014, merged with Ally Pharma US, Inc., a Florida corporation, (“Ally Pharma”, formerly known as Gold Royalty Corporation) in a “reverse merger” wherein Ally Pharma issued 110,000,000 shares of Common Stock, or 80% ownership, to the owners of TPT Global, Inc. in exchange for all outstanding common stock of TPT Global Inc. and Ally Pharma agreed to change its name to TPT Global Tech, Inc. (jointly referred to as “the Company” or “TPTG”). The following acquisitions have resulted in entities which have been consolidated into TPTG. In 2014 the Company acquired all the assets of K Telecom and Wireless LLC (“K Telecom”) and Global Telecom International LLC (“Global Telecom”). Effective January 31, 2015, TPTG completed its acquisition of 100% of the outstanding stock of Copperhead Digital Holdings, Inc. (“Copperhead Digital”) and Subsidiaries, TruCom, LLC (“TruCom”), Nevada Utilities, Inc. (“Nevada Utilities”) and CityNet Arizona, LLC (“CityNet”). Effective September 30, 2016, the company acquired 100% ownership in San Diego Media Inc. (“SDM”). In October 2017, we entered into agreements to acquire Blue Collar, Inc. (“Blue Collar”) which closed as of September 1, 2018. On May 7, 2019 we completed the acquisition of a majority of the assets of SpeedConnect, LLC, which assets were conveyed into our wholly owned subsidiary TPT SpeedConnect, LLC (“TPT SC” or “TPT SpeedConnect”) which was formed on April 16, 2019. On January 8, 2020 we formed TPT Federal, LLC (“TPT Federal”). On March 30, 2020 we formed TPT MedTech, LLC (“TPT MedTech”) and on June 6, 2020 we formed InnovaQor, Inc (“InnovaQor”). In July and August 2020, the Company formed Quiklab 1 LLC, QuikLAB 2, LLC, QuikLAB 3, LLC and QuikLAB 4, LLC where TPT MedTech owns 80% (as agreed per the operating agreement) of all outside equity investments. Effective August 1, 2020 we closed on the acquisition of 75% of The Fitness Container, LLC (“Air Fitness”). In July 2020, we invested in a Hong Kong company called TPT Global Tech Asia Limited of which we own 78%, and during 2020, InnovaQor did a reverse merger with Southern Plains of which there ended up being a non controlling interest of 6% as of June 30, 2021 and December 31, 2020. The name of InnovaQor remained for the merged entities but was changed to TPT Strategic, Inc. on March 21, 2021. We are based in San Diego, California, and operate as a technology-based company with divisions providing telecommunications, medical technology and product distribution, media content for domestic and international syndication as well as technology solutions. We operate on our own proprietary Global Digital Media TV and Telecommunications infrastructure platform and also provide technology solutions to businesses domestically and worldwide. We offer Software as a Service (SaaS), Technology Platform as a Service (PAAS), Cloud-based Unified Communication as a Service (UCaaS) and carrier-grade performance and support for businesses over our private IP MPLS fiber and wireless network in the United States. Our cloud-based UCaaS services allow businesses of any size to enjoy all the latest voice, data, media and collaboration features in today's global technology markets. We also operate as a Master Distributor for Nationwide Mobile Virtual Network Operators (MVNO) and Independent Sales Organization (ISO) as a Master Distributor for Pre-Paid Cellphone services, Mobile phones, Cellphone Accessories and Global Roaming Cellphones.
Significant Accounting PoliciesPlease refer to Note 1 of the Notes to the Consolidated Financial Statements in the Company's most recent Form 10-K for all significant accounting policies of the Company, with the exception of those discussed below.
Basis of PresentationThe accompanying unaudited condensed consolidated financial statements have been prepared according to the instructions to Form 10-Q and Section 210.8-03(b) of Regulation S-X of the Securities and Exchange Commission (“SEC”) and, therefore, certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) have been omitted. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three months ended June 30, 2021 are not necessarily indicative of the results that may be expected for the year ending December 31, 2021. These condensed consolidated financial statements should be read in conjunction with the Company’s consolidated financial statements for the year ended December 31, 2020. The condensed consolidated balance sheet as of June 30, 2021, has been derived from the consolidated financial statements at that date, but does not include all of the information and footnotes required by GAAP. Our condensed consolidated financial statements include the accounts of K Telecom and Global, Copperhead Digital, SDM, Blue Collar, TPT SpeedConnect, TPT Federal, TPT MedTech, InnovaQor, Quiklab 1, QuikLAB 2, QuikLAB 3, QuikLAB 4, Aire Fitness and TPT Global Tech Asia Limited. The consolidated financial statements also give effects to non-controlling interests of the QuikLABs of 20%, Aire Fitness of 25%, TPT Global Tech Asia Limited of 22% and InnovaQor of 6%, where appropriate. All intercompany accounts and transactions have been eliminated in consolidation.
Revenue RecognitionWe have applied ASC 606, revenue from Contracts with Customers, to all contracts as of the date of initial application and as such, have used the following criteria described below in more detail for each business unit: Identify the contract with the customer Identify the performance obligations in the contract Determine the transaction price Allocate the transaction price to performance obligations in the contract Recognize revenue when or as we satisfy a performance obligation. Reserves are recorded as a reduction in net sales and are not considered material to our consolidated statements of income for the three months ended June 30, 2021 and 2020. In addition, we invoice our customers for taxes assessed by governmental authorities such as sales tax and value added taxes, where applicable. We present these taxes on a net basis. The Company’s revenue generation for the six months ended June 30, 2021 and 2020 came from the following sources disaggregated by services and products, which sources are explained in detail below. For the six months ended June 30, 2021 For the six months ended June 30, 2020 TPT SpeedConnect $ 4,050,224 $ 5,264,486 Blue Collar 711,454 526,092 TPT MedTech 457,108 - San Diego Media and other 7,032 14,075 Aire Fitness 55,083 - Total Services Revenue $ 5,280,900 $ 5,804,653 K Telecom-Product Revenue 10,630 28,091 Total Revenue $ 5,291,530 $ 5,832,744 TPT SpeedConnect: ISP and Telecom Revenue TPT SpeedConnect is a rural Internet provider operating in 10 Midwestern States under the trade name SpeedConnect. TPT SC’s primary business model is subscription based, pre-paid monthly reoccurring revenues, from wireless delivered, high-speed internet connections. In addition, the company resells third-party satellite and DSL internet and IP telephony services. Revenue generated from sales of telecommunications services is recognized as the transaction with the customer is considered closed and the customer receives and accepts the services that were the result of the transaction. There are no financing terms or variable transaction prices. Due date is detailed on monthly invoices distributed to customer. Services billed monthly in advance are deferred to the proper period as needed. Deferred revenue are contract liabilities for cash received before performance obligations for monthly services are satisfied. Deferred revenue at June 30, 2021 and December 31, 2020 are $306,578 and $292,847, respectively. Certain of our products require specialized installation and equipment. For telecom products that include installation, if the installation meets the criteria to be considered a separate element, product revenue is recognized upon delivery, and installation revenue is recognized when the installation is complete. The Installation Technician collects the signed quote containing terms and conditions when installing the site equipment at customer premises. Revenue for installation services and equipment is billed separately from recurring ISP and telecom services and is recognized when equipment is delivered and installation is completed. Revenue from ISP and telecom services is recognized monthly over the contractual period, or as services are rendered and accepted by the customer. The overwhelming majority of our revenue continues to be recognized when transactions occur. Since installation fees are generally small relative to the size of the overall contract and because most contracts are for two years or less, the impact of not recognizing installation fees over the contract is immaterial. Blue Collar: Media Production Services Blue Collar creates original live action and animated content productions and has produced hundreds of hours of material for the television, theatrical, home entertainment and new media markets. Blue Collar designs branding and marketing campaigns and has had agreements with some of the world’s largest companies including PepsiCo, Intel, HP, WalMart and many other Fortune 500 companies. Additionally, they create motion picture, television and home entertainment marketing campaigns for studios including Sony, DreamWorks, Twentieth Century Fox, Universal Studios, Paramount Studios, and Warner Brothers. With regard to revenue recognition, Blue Collar receives an agreement from each client to perform defined work. Some agreements are written, some are verbal. Work may include creation of marketing materials and/or content creation. Some work may be short term and take weeks to create and some work may be longer and take months to create. There are instances where customer agreements segregate identifiable obligations (like filming on site vs. film editing and final production) with separate transaction pricing. The performance obligation is generally satisfied upon delivery of such film or production products, at which time revenue is recognized. There are no financing terms or variable transaction prices. SDM: Ecommerce, Email Marketing and Web Design Services SDM generates revenue by providing ecommerce, email marketing and web design solutions to small and large commercial businesses, complete with monthly software support, updates and maintenance. Services are billed monthly. There are no financing terms or variable transaction prices. Platform infrastructure support is a prepaid service billed in monthly recurring increments. The services are billed a month in advance and due prior to services being rendered. The revenue is deferred when invoiced and booked in the month the service is provided. There is no deferred revenue at June 30, 2021 and December 31, 2020. Software support services (including software upgrades) are billed in real time, on the first of the month. Web design service revenues are recognized upon completion of specific projects. Revenue is booked in the month the services are rendered and payments are due on the final day of the month. There are usually no contract revenues that are deferred until services are performed. TPT MedTech: Medical Testing Revenue TPT MedTech operates in the Point of Care Testing (“POCT”) market by primarily offering mobile medical testing facilities and software equipped for mobile devices to monitor and manage personalized healthcare. Services used from our mobile medical testing facilities are billing through credit cards at the time of service. Revenue is generated from our software platform as users sign up for our mobile healthcare monitor and management application and tests are performed. If medical testing is in one our own owned facilities, the usage of the software application is included in the testing fees. If the testing is in a non-owned outside contracted facility, fees are generated from the usage of the software application on a per test basis and billed monthly. TPT MedTech also offers two products. One is to build and sell its mobile testing facilities called QuikLABs designed for mobile testing. This is used by TPT MedTech for its own testing services. The other is a sanitizing unit called SANIQuik which is used as a safe and flexible way to sanitize providing an additional routine to hand washing and facial coverings. The SANIQuik has not yet been approved for sale in the United States but has in some parts of the European community. Revenues from these products are recognized when a product is delivered, the sales transaction considered closed and accepted by a customer. Deferred revenue at June 30, 2021 and December 31, 2020 are $126,011 and $48,943, respectively. There are no financing terms or variable transaction prices for either of these products. Copperhead Digital: ISP and Telecom Revenue Copperhead Digital operated as a regional internet and telecom services provider operating in Arizona under the trade name Trucom. Although there are currently no customers and it will take capital to reopen this revenue stream, Copperhead Digital operated as a wireless telecommunications Internet Service Provider (“ISP”) facilitating both residential and commercial accounts. Copperhead Digital’s primary business model was subscription based, pre-paid monthly reoccurring revenues, from wireless delivered, high-speed internet connections. In addition, the company resold third-party satellite and DSL internet and IP telephony services. Revenue generated from sales of telecommunications services was recognized as the transaction with the customer is considered closed and the customer received and accepted the services that were the result of the transaction. There are no financing terms or variable transaction prices. Due date was detailed on monthly invoices distributed to customer. Services billed monthly in advance were deferred to the proper period as needed. Deferred revenue was contract liabilities for cash received before performance obligations for monthly services are satisfied. Certain of its products required specialized installation and equipment. For telecom products that included installation, if the installation met the criteria to be considered a separate element, product revenue was recognized upon delivery, and installation revenue was recognized when the installation was complete. The Installation Technician collected the signed quote containing terms and conditions when installing the site equipment at customer premises. Revenue for installation services and equipment was billed separately from recurring ISP and telecom services and was recognized when equipment was delivered, and installation was completed. Revenue from ISP and telecom services was recognized monthly over the contractual period, or as services were rendered and accepted by the customer. The overwhelming majority of revenue was recognized when transactions occurred. Since installation fees were generally small relative to the size of the overall contract and because most contracts were for a year or less, the impact of not recognizing installation fees over the contract was immaterial. K Telecom: Prepaid Phones and SIM Cards Revenue K Telecom generates revenue from reselling prepaid phones, SIM cards, and rechargeable minute traffic for prepaid phones to its customers (primarily retail outlets). Product sales occur at the customer’s locations, at which time delivery occurs and cash or check payment is received. The Company recognizes the revenue when they receive payment at the time of delivery. There are no financing terms or variable transaction prices.
Basic and Diluted Net Loss Per ShareThe Company computes net income (loss) per share in accordance with ASC 260, “Earning per Share”. ASC 260 requires presentation of both basic and diluted earnings per share (“EPS”) on the face of the income statement. Basic EPS is computed by dividing net income (loss) available to common shareholder (numerator) by the weighted average number of shares outstanding (denominator) during the period. Diluted EPS gives effect to all dilutive potential common shares outstanding during the period using the treasury stock method for options and warrants and using the if-converted method for preferred stock and convertible notes. In computing diluted EPS, the average stock price for the period is used in determining the number of shares assumed to be purchased from the exercise of stock options or warrants. Diluted EPS excludes all dilutive potential shares if their effect is anti-dilutive. As of June 30, 2021, the Company had shares that were potentially common stock equivalents as follows: Convertible Promissory Notes 421,447,906 Series A Preferred Stock (1) 1,279,184,625 Series B Preferred Stock 2,588,693 Series D Preferred Stock (2) 21,050,993 Stock Options and Warrants 3,333,333 1,727,605,549 ___________ (1) Holder of the Series A Preferred Stock which is Stephen J. Thomas, is guaranteed 60% of outstanding common stock upon conversion. The Company would have to authorize additional shares for this to occur as only 1,000,000,000 shares are currently authorized. (2) Holders of the Series D Preferred Stock may decide after 18 months to convert to common stock 80% of the 30 day average market closing price (for previous 30 business days) divided into $5.00. There is also an automatic conversion of the Series D Preferred Stock without consent of holders upon any national exchange listing approval and the registration effectiveness of common stock underlying the conversion rights. The automatic conversion to common from Series D Preferred shall be on a one for one basis.
Financial Instruments and Fair Value of Financial InstrumentsOur primary financial instruments at June 30, 2021 and December 31, 2020 consisted of cash equivalents, accounts receivable, accounts payable, notes payable and derivative liabilities. We apply fair value measurement accounting to either record or disclose the value of our financial assets and liabilities in our financial statements. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the 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 Level 2 Level 3 We consider our derivative financial instruments as Level 3. The balances for our derivative financial instruments as of June 30, 2021 are the following: Derivative Instrument Fair Value Fair value of Auctus Convertible Promissory Note $ 3,785,589 Fair value of EMA Financial Convertible Promissory Note 988,799 Fair value of Warrants issued with the derivative instruments 8,991 $ 4,783,379
Recently Adopted Accounting PronouncementsIn August 2020, the FASB issued ASU 2020-06, “Debt - Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging - Contracts in Entity's Own Equity (Subtopic 815 - 40)” (“ASU 2020-06”). ASU 2020-06 simplifies the accounting for certain financial instruments with characteristics of liabilities and equity, including convertible instruments and contracts on an entity's own equity. The ASU is part of the FASB's simplification initiative, which aims to reduce unnecessary complexity in U.S. GAAP. The ASU's amendments are effective for fiscal years beginning after December 15, 2023, and interim periods within those fiscal years, with early adoption permissible for fiscal years beginning after December 15, 2020. The Company early adopted ASU 2060-06 on January 1, 2021, which had no material impact on its financial statements. Management has reviewed recently issued accounting pronouncements and have determined there are not any that would have a material impact on the condensed consolidated financial statements.

DESCRIPTION OF BUSINESS AND S_3

DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)6 Months Ended
Jun. 30, 2021
DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Disaggregation of revenue For the six months ended June 30, 2021 For the six months ended June 30, 2020 TPT SpeedConnect $ 4,050,224 $ 5,264,486 Blue Collar 711,454 526,092 TPT MedTech 457,108 - San Diego Media and other 7,032 14,075 Aire Fitness 55,083 - Total Services Revenue $ 5,280,900 $ 5,804,653 K Telecom-Product Revenue 10,630 28,091 Total Revenue $ 5,291,530 $ 5,832,744
Potentially dilutive securitiesConvertible Promissory Notes 421,447,906 Series A Preferred Stock (1) 1,279,184,625 Series B Preferred Stock 2,588,693 Series D Preferred Stock (2) 21,050,993 Stock Options and Warrants 3,333,333 1,727,605,549 Convertible Promissory Notes 421,447,906 Series A Preferred Stock (1) 1,279,184,625 Series B Preferred Stock 2,588,693 Series D Preferred Stock (2) 21,050,993 Stock Options and Warrants 3,333,333 1,727,605,549
Derivative financial instrumentsDerivative Instrument Fair Value Fair value of Auctus Convertible Promissory Note $ 3,785,589 Fair value of EMA Financial Convertible Promissory Note 988,799 Fair value of Warrants issued with the derivative instruments 8,991 $ 4,783,379

ACQUISITIONS (Tables)

ACQUISITIONS (Tables)6 Months Ended
Jun. 30, 2021
ACQUISITIONS
Purchase price allocationConsideration given at fair value: Note payable, net of discount $ 340,000 Accounts payable 157,252 Non-controlling interest 113,333 $ 610,585 Assets acquired at fair value: Cash $ 460 Accounts receivable 39,034 $ 39,494 Goodwill $ 571,091

PROPERTY AND EQUIPMENT (Tables)

PROPERTY AND EQUIPMENT (Tables)6 Months Ended
Jun. 30, 2021
PROPERTY AND EQUIPMENT
Property and equipment 2021 2020 Property and equipment: Telecommunications fiber and equipment $ 2,652,751 $ 2,530,167 Film production equipment 369,903 369,903 Medical equipment 209,499 133,329 Office furniture and equipment 86,899 86,899 Leasehold improvements 18,679 18,679 Total property and equipment 3,337,731 3,138,977 Accumulated depreciation (2,024,648 ) (993,380 ) Property and equipment, net $ 2,024,648 $ 2,145,597

DEBT FINANCING ARRANGEMENTS (Ta

DEBT FINANCING ARRANGEMENTS (Tables)6 Months Ended
Jun. 30, 2021
DEBT FINANCING ARRANGEMENTS
Debt financing arrangements 2021 2020 Loans and advances (1) $ 2,744,042 $ 2,517,200 Convertible notes payable (2) 1,711,098 1,711,098 Factoring agreements (3) 687,314 635,130 Debt – third party $ 5,142,454 $ 4,863,428 Line of credit, related party secured by assets (4) $ 3,043,390 $ 3,043,390 Debt– other related party, net of discounts (5) 7,450,000 7,423,334 Convertible debt – related party (6) 922,181 922,481 Shareholder debt (7) 142,054 93,072 Debt – related party $ 11,557,625 $ 11,482,277 Total financing arrangements $ 16,700,079 $ 16,345,705 Less current portion: Loans, advances and factoring agreements – third party $ (1,678,756 ) $ (2,308,753 ) Convertible notes payable third party (1,711,098 ) (1,711,098 Debt – related party, net of discount (10,635,444 ) (10,559,796 ) Convertible notes payable– related party (922,181 ) (922,481 ) (14,947,479 ) (15,502,128 ) Total long term debt $ 1,752,600 $ 843,577

DERIVATIVE FINANCIAL INSTRUME_2

DERIVATIVE FINANCIAL INSTRUMENTS (Tables)6 Months Ended
Jun. 30, 2021
DERIVATIVE FINANCIAL INSTRUMENTS
Changes in fair value of Company's Level 3 financial liabilities Debt Derivative Liabilities Balance, December 31, 2019 $ 8,836,514 Change in derivative liabilities from conversion of notes payable (1,144,290 ) Change in derivative liabilities from the Odyssey conversion to a term loan (1,286,762 ) Change in fair value of derivative liabilities for the period – derivative expense (1,140,323 ) Balance, December 31, 2020 $ 5,265,139 Initial fair value of derivative liabilities during the period 77,897 Reclassification of certain derivative liabilities (185,108 ) Change in fair value of derivative liabilities for period – derivative expense (374,549 ) Balance, June 30, 2021 $ 4,783,379

STOCKHOLDERS' DEFICIT (Tables)

STOCKHOLDERS' DEFICIT (Tables)6 Months Ended
Jun. 30, 2021
Stockholders Equity Abstract
Stock option activity

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)6 Months Ended
Jun. 30, 2021
COMMITMENTS AND CONTINGENCIES
Accounts payable and accrued expensesAccounts payable: 2021 2020 Related parties (1) $ 1,342,038 $ 1,339,352 General operating 5,508,346 3,965,135 Accrued interest on debt (2) 1,721,047 1,328,939 Credit card balances 173,406 173,972 Accrued payroll and other expenses 217,178 296,590 Taxes and fees payable 641,555 641,012 Unfavorable lease liability 60,582 121,140 Total $ 9,664,153 $ 7,866,140
Maturity of lease liabilities2021 $ 2,703,312 2022 1,855,230 2023 1,290,039 2024 960,126 2025 601,834 Thereafter 157,306 Total operating lease liabilities 7,567,849 Amount representing interest (975,464 ) Total net present value $ 6,592,385 2021 $ 864,025 2022 10,780 2023 - 2024 - 2025 - Thereafter - Total financing lease liabilities 874,805 Amount representing interest (23,246 ) Total future payments (1)(2) $ 851,559

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS (Tables)6 Months Ended
Jun. 30, 2021
GOODWILL AND INTANGIBLE ASSETS
Goodwill and intangible assets Gross carrying amount (1) Accumulated Amortization Net Book Value Useful Life Customer Base $ 938,000 $ (259,065 ) $ 678,935 3-10 Developed Technology 4,595,600 (1,872,287 ) 2,723,313 9 Film Library 957,000 (213,200 ) 743,800 11 Trademarks and Tradenames 132,000 (32,535 ) 99,465 12 Favorable leases 95,000 (67,840 ) 27,160 3 Other 76,798 (3,840 ) 72,958 10 6,794,398 (2,448,767 ) 4,345,631 Goodwill $ 768,091 $ - $ 768,091 Gross carrying amount Accumulated Amortization Net Book Value Useful Life Customer Base $ 938,000 (207,771 ) $ 730,229 3-10 Developed Technology 4,595,600 (1,616,975 ) 2,978,625 9 Film Library 957,000 (177,100 ) 779,900 11 Trademarks and Tradenames 132,000 (26,731 ) 105,269 12 Favorable leases 95,000 (50,880 ) 44,120 3 Other 76,798 - 76,798 Total intangible assets, net $ 6,794,398 (2,079,457 ) $ 4,714,941 Goodwill $ 768,091 - $ 768,091
Amortization of intangible assets2021 $ 389,744 2022 730,059 2023 719,859 2024 719,859 2025 719,859 Thereafter 1,066,251 $ 4,345,631

SEGMENT REPORTING (Tables)

SEGMENT REPORTING (Tables)6 Months Ended
Jun. 30, 2021
Summary of segment information2021 TPT Speed Connect Blue Collar TPT Corporate and other Total Revenue $ 1,959,818 $ 511,454 $ 81,458 $ 26,490 $ 2,579,180 Cost of sales $ (1,520,612 ) $ (212,565 ) $ (384,233 ) $ (72,231 ) $ (2,189,641 ) Net income (loss) $ (355,593 ) $ 134,320 $ (610,830 ) $ (1,339,095 ) $ (2,171,198 ) Total assets $ 9,473,626 $ 1,242,360 $ 483,597 $ 1,287,285 $ 12,486,868 Depreciation and amortization $ (153,093 ) $ (27,834 ) $ - $ (168,070 ) $ (348,997 ) Derivative gain $ - $ - $ - $ 189,274 $ 189,274 Interest expense $ (145,465 ) $ (6,071 ) $ - $ (257,707 ) $ (409,243 ) 2020 TPT SpeedConnect Blue Collar Corporate and other Total Revenue $ 2,556,832 $ 172,687 $ 27,252 $ 2,756,771 Cost of revenue $ (1,510,706 ) $ (140,743 ) $ 23,189 $ (1,628,260 ) Net income (loss) $ 455,583 $ (187,860 ) $ 2,202,487 $ 2,470,210 Total assets $ 6,941,344 $ 420,298 $ 8,084,489 $ 15,446,131 Depreciation and amortization $ (112,794 ) $ (37,112 ) $ (292,793 ) $ (442,699 ) Derivative expense $ - $ - $ 3,496,653 $ 3,496,653 Interest expense $ (26,449 ) $ (9,426 ) $ (251,469 ) $ (287,344 ) 2021 TPT SpeedConnect Blue Collar TPT Corporate and other Total Revenue $ 4,050,224 $ 711,454 $ 457,108 $ 72,744 $ 5,291,530 Cost of sales $ (3,138,744 ) $ (335,830 ) $ (766,208 ) $ (110,513 ) $ (4,351,295 ) Net income (loss) $ (600,055 ) $ 30,906 $ (1,051,268 ) $ (2,263,833 ) $ (3,884,250 ) Total assets $ 9,473,626 $ 1,242,360 $ 483,597 $ 1,287,285 $ 12,486,868 Depreciation and amortization $ (301,640 ) $ (55,668 ) $ - $ (331,705 ) $ (689,013 ) Derivative gain $ - $ - $ - $ 374,549 $ 374,549 Interest expense $ (335,934 ) $ (14,343 ) $ - $ (449,845 ) $ (800,122 ) 2020 TPT SpeedConnect Blue Collar Corporate and other Total Revenue $ 5,264,486 $ 526,092 $ 42,166 $ 5,832,744 Cost of revenue $ 3,228,092 $ 288,838 $ 220,747 $ 3,737,677 Net income (loss) $ 742,373 $ (245,955 ) $ (2,992,406 ) $ (2,495,988 ) Depreciation and amortization $ 239,988 $ 64,946 $ 577,903 $ 882,837 Derivative expense $ - $ - $ 400,019 $ 400,019 Interest expense $ 80,453 $ 19,644 $ 734,004 $ 834,101

DESCRIPTION OF BUSINESS AND S_4

DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($)3 Months Ended6 Months Ended
Jun. 30, 2021Jun. 30, 2020Jun. 30, 2021Jun. 30, 2020
Total Services Revenue $ 5,280,900 $ 5,804,653
Total Revenue $ 2,579,180 $ 2,756,771 5,291,530 5,832,744
K Telecom
Total Revenue10,630 28,091
San Diego Media
Total Revenue7,032 14,075
Blue Collar
Total Revenue511,454 172,687 711,454 526,092
TPT SpeedConnect [Member]
Total Revenue $ 1,959,818 $ 2,556,832 4,050,224 5,264,486
TPT MedTech
Total Revenue457,108 0
Aire Fitness
Total Revenue $ 55,083 $ 0

DESCRIPTION OF BUSINESS AND S_5

DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 1)6 Months Ended
Jun. 30, 2021shares
Potentially dilutive securities1,727,605,549
Convertible Promissory Notes [Member]
Potentially dilutive securities421,447,906
Stock Options and Warrants [Member]
Potentially dilutive securities3,333,333
Series A Preferred Stock
Potentially dilutive securities1,279,184,625
Series B Preferred Stock
Potentially dilutive securities2,588,693
Series D Preferred Stock
Potentially dilutive securities21,050,993

DESCRIPTION OF BUSINESS AND S_6

DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 2)Jun. 30, 2021USD ($)
Fair value of derivative instrument $ 4,783,379
Auctus Convertible Promissory Notes
Fair value of derivative instrument3,785,589
EMA Financial Convertible Promissory Notes
Fair value of derivative instrument988,799
Warrants Issued with the Derivative Instruments
Fair value of derivative instrument $ 8,991

DESCRIPTION OF BUSINESS AND S_7

DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($)6 Months Ended
Jun. 30, 2021Dec. 31, 2020Jun. 15, 2020Feb. 28, 2015
Preferred stock, authorized1,000,000,000
Ally Pharma
Common stock issued110,000,000
Ownership percentage80.00%
Series D Preferred Stock
Percentage of common stock conversion80.00%
Price per share $ 5
Preferred stock, authorized10,000,000 100,000,000
Common stock issued46,649 0
Series A Preferred Stock
Percentage of common stock conversion60.00%
Preferred stock, authorized1,000,000 1,000,000 100,000,000
Common stock issued1,000,000 1,000,000
TPT SpeedConnect [Member]
Deferred revenue $ 306,578 $ 292,847
TPT MedTech
Deferred revenue $ 126,011 $ 48,943

ACQUISITIONS (Details)

ACQUISITIONS (Details) - USD ($)6 Months Ended
Jun. 30, 2021Dec. 31, 2020
Goodwill $ 768,091 $ 768,091
The Fitness Container, LLC
Note payable340,000
Accounts payable157,252
Non-controlling interest(113,333)
Consideration given at fair value610,585
Cash460
Accounts receivable39,034
Accounts receivable other39,494
Goodwill $ 571,091

ACQUISITIONS (Details Narrative

ACQUISITIONS (Details Narrative) - USD ($)1 Months Ended3 Months Ended6 Months Ended
Sep. 30, 2020Jun. 30, 2021Jun. 30, 2020Jun. 30, 2021Jun. 30, 2020Dec. 31, 2020
Promissory note payables $ 2,000 $ 2,000
Revenue from operation2,579,180 $ 2,756,771 5,291,530 $ 5,832,744
Net loss(2,213,446) $ 2,470,210 (3,953,524) $ (3,495,988)
Non-controlling interest1,721,047 1,721,047 $ 1,328,939
Liabilities under license agreement34,621,050 34,621,050 $ 32,836,215
Southern Plains Oil Corp [Member]
Preferred stock shares issued350,000 350,000
Note payable $ 350,000 $ 350,000
Non-controlling interest $ 219,058
Liabilities under license agreement3,500,000
Expenses $ 3,500,000
The Fitness Container, LLC
TPT owns descriptionTPT owns 75% is a California LLC founded in 2014 focused on custom designing
Common stock shares issued500,000
Common stock shares price $ 1 $ 1
Promissory note payables $ 500,000 $ 500,000
Gross profit Royalty from sales percentage10.00%
Employee benefit $ 120,000
Revenue from operation55,083
Net loss $ 116,202

GOING CONCERN (Details Narrativ

GOING CONCERN (Details Narrative) - USD ($)1 Months Ended6 Months Ended
Aug. 30, 2021May 28, 2021Feb. 28, 2021Apr. 30, 2020Jun. 30, 2021Jun. 30, 2020
Net loss $ 3,884,250 $ 3,495,988
Net cash used in operating activities(304,761)(318,895)
Impairment of goodwill and long lived assets870,216 2,460,160
Net increase in assets and liabilities2,778,546
Net cash provided by financing activities589,504 506,735
proceeds from sale of Series D Preferred Stock233,244 0
proceeds from convertible notes, loans and advances1,771,685 1,311,800
Payment on convertible loans, advances and factoring agreements1,460,898 619,227
Payments on convertible notes and amounts payable - related parties188,238
Net cash used in investing activities(198,753) $ (271,138)
Stimulus offerings $ 680,500 $ 722,200
Forgiveness of the original stimulus $ 722,200
Aug 2021 [Member] | Subsequent Event [Member]
Proceed of net of expenses $ 83,420
Common stock share purchase9,000,000
Common Stock Purchase Agreement [Member]
Effectiveness of registration $ 5,000,000

PROPERTY AND EQUIPMENT (Details

PROPERTY AND EQUIPMENT (Details) - USD ($)Jun. 30, 2021Dec. 31, 2020
Property, plant and equipment, gross $ 3,337,731 $ 3,138,977
Accumulated depreciation(2,024,648)(993,380)
Property and equipment, net2,024,648 2,145,597
Telecommunications Fiber and Equipment
Property, plant and equipment, gross2,652,751 2,530,167
Film Production Equipment
Property, plant and equipment, gross369,903 369,903
Office Furniture and Equipment
Property, plant and equipment, gross209,499 133,329
Leasehold Improvements
Property, plant and equipment, gross18,679 18,679
Medical Equipment
Property, plant and equipment, gross $ 86,899 $ 86,899

PROPERTY AND EQUIPMENT (Detai_2

PROPERTY AND EQUIPMENT (Details Narrative) - USD ($)3 Months Ended6 Months Ended
Jun. 30, 2021Jun. 30, 2020Jun. 30, 2021Jun. 30, 2020
PROPERTY AND EQUIPMENT
Depreciation expense $ 164,342 $ 259,964 $ 319,703 $ 517,367

DEBT FINANCING ARRANGEMENTS (De

DEBT FINANCING ARRANGEMENTS (Details) - USD ($)Jun. 30, 2021Dec. 31, 2020
DEBT FINANCING ARRANGEMENTS
Loans, advances and factoring agreements $ 2,744,042 $ 2,517,200
Convertible notes payable1,711,098 1,711,098
Factoring agreements687,314 635,130
Debt - third party5,142,454 4,863,428
Line of credit, related party secured by assets3,043,390 3,043,390
Debt - other related party, net of discounts7,450,000 7,423,334
Convertible debt - related party922,181 922,481
Shareholder debt142,054 93,072
Debt - related party11,557,625 11,482,277
Total financing arrangements16,700,079 16,345,705
Less current liabilities:
Loans, advances and agreements - third party(1,678,756)(2,308,753)
Convertible notes payable, third party(1,711,098)(1,711,098)
Debt - related party, net of discount(10,635,444)(10,559,796)
Convertible notes payable - related party(922,181)(922,481)
Total14,947,479 15,502,128
Total long term debt $ 1,752,600 $ 843,577

DEBT FINANCING ARRANGEMENTS (_2

DEBT FINANCING ARRANGEMENTS (Details Narrative)Jun. 14, 2021USD ($)Dec. 11, 2020USD ($)Nov. 13, 2020USD ($)Jun. 08, 2020USD ($)Jun. 03, 2020USD ($)sharesJun. 11, 2019USD ($)integerJun. 06, 2019USD ($)Jun. 04, 2019USD ($)integerMay 15, 2019USD ($)May 08, 2019USD ($)Apr. 12, 2019USD ($)Mar. 15, 2019USD ($)Jun. 28, 2021USD ($)Feb. 28, 2021USD ($)Jan. 31, 2021sharesDec. 29, 2020sharesJul. 31, 2020USD ($)Jun. 30, 2020USD ($)Feb. 25, 2020USD ($)sharesFeb. 21, 2020USD ($)Feb. 14, 2020USD ($)Aug. 22, 2019USD ($)Mar. 25, 2019USD ($)integerJun. 30, 2021USD ($)sharesJun. 30, 2020USD ($)Jun. 30, 2021USD ($)sharesJun. 30, 2020USD ($)Dec. 31, 2020USD ($)sharesDec. 31, 2019USD ($)sharesDec. 31, 2018USD ($)$ / sharesDec. 31, 2017USD ($)$ / sharesJun. 30, 2017USD ($)Sep. 30, 2020USD ($)sharesJun. 15, 2020sharesMay 06, 2020USD ($)Apr. 30, 2020USD ($)Feb. 13, 2020USD ($)Sep. 01, 2018USD ($)Dec. 31, 2016USD ($)$ / shares
Line of credit bearing interest2.10%
1 month Libor plus bearing interest rate percentage2.00%
Stock options expired | shares8,000
Line of credit $ 40,000 $ 40,000
Line of credit due dateAug. 31,
2020
Secured promissory note with a third party $ 90,000
Interest charge payable on principal10%
Interest charges $ 1,000 $ 9,000 409,243 $ 287,344 $ 800,122 $ 834,101
Unpaid principal amount101,244 101,244 $ 101,244
Promissory note2,000 2,000
Common stock shares for resale | shares2,000
Note payable5,508,346 5,508,346 $ 3,965,135
Proceeds from debt48,224 2,400
Net of expenses2,048,108 $ 2,898,566 4,133,278 $ 4,833,416
Acquisition of Media Live One Platform
Promissory note $ 1,000,000
Acquisition of Aire Fitness
Notes payable $ 500,000
Equity ownership percentage75.00%
Acqusition of SDM
Promissory note $ 250,000
Rate of interest on promissory note12.00%
Conversion price per share | $ / shares $ 1
Debt balance $ 182,381 $ 182,381
Former Officer of CDH
Line of credit due dateMay 1,
2020
Rate of interest on promissory note12.00%
Annual interest rate6.00%
Issued convertible promissory notes $ 5,000
Conversion price per share | $ / shares $ 0.25
Series D Preferred Stock
Preferred stock shares outstanding | shares30,749 30,749 0
Copperhead Digital Shareholders [Member] | Line of Credit Facility [Member]
LIBOR Plus rate2.14%2.14%2.00%
Shares reserved for future issuance | shares1,000,000 1,000,000
Line of credit balance $ 2,597,790 $ 2,597,790
Loan from shareholders445,600 445,600 $ 136,400 $ 537,200
Amount of stock option $ 85,120
Expiration date of optionDecember 31, 2019
Cash due to prior owner $ 350,000
Mr. Littman
Common stock shares for resale | shares7,500,000
Unrelated Party
Issued convertible promissory notes $ 10,000 $ 67,000
Related Party
Line of credit due dateMay 1,
2020
Rate of interest on promissory note11.00%12.00%
Annual interest rate6.00%6.00%
Issued convertible promissory notes $ 537,200 $ 62,000
Conversion price per share | $ / shares $ 0.25
Series C Preferred stock, price per share | $ / shares $ 1
ViewMe Live technology [Member]
Promissory note $ 4,000,000
Proceeds from debt $ 2,000,000
Noteholder [Member] | Series D Preferred Stock
Promissory note4,700,000
Shares issuable upon debt conversion, amount12,000,000
COVID-19 Pandemic Paycheck Protection Program
Line of credit $ 680,500 $ 722,220
Loan forgiveness $ 722,200
Annual interest rate1.00%1.00%
Unforgiven loan amounts payable period5 years
Amended May 20, 2021
Line of credit bearing interest9.25%
1 month Libor plus bearing interest rate percentage6.00%
Line of credit360,000 $ 360,000
Line of credit due dateMay 1,
2024
Securities Purchase Agreement with Odyssey Capital Funding, LLC
Rate of interest on promissory note24.00%
Annual interest rate12.00%
Convertible promissory note $ 525,000
Outstanding balance into common stock percentage4.99
Conversion price percentage55
Convertible promissory note percentage descriptionThe conversion price was 55% multiplied by the average of the two lowest trading prices for the common stock during the previous 20 trading days prior to the applicable conversion date. The Odyssey Convertible Promissory Note could be prepaid in full at 125% to 145% up to 180 days from origination.
Principal balance amount $ 475,850
Accrued interest balance $ 135,000 $ 4,116
Term loan payable descriptionterm loan payable in six months in the form of a balloon payment, earlier if the Company has a funding event, bearing simple interest on the unpaid balance of 0% for the first three months and then 10% per annum thereafter
Debt conversion, converted amount $ 49,150
Shares issued upon debt conversion, shares | shares52,961,921
Purchase Agreement | Mr. Littman | Series A Preferred Stock
Cash $ 350,000
Common stock shares for resale | shares7,500,000
Note payable $ 350,000
Preferred stock shares outstanding | shares500,000
Reclassified into equity and derivative liability | shares7,500,000
Remaining balances bear interest percentage10%
2020 Factoring Agreement
Rate of interest on promissory note43.00%
Balance debt to be purchased and sold $ 716,720
Net of fee received $ 500,000
Maturity period of debt pay50 weeks
Promise to pay fund $ 14,221
Deferred payments $ 39,249
2020 Factoring Agreement | Minimum
Increase decrease in payments9,000
2020 Factoring Agreement | Maximum
Increase decrease in payments $ 11,000
Securities Purchase Agreement with Geneva Roth Remark Holdings, Inc
Rate of interest on promissory note24.00%
Annual interest rate12.00%
Conversion price percentage61%
Accrued interest balance8,680
Promise to pay fund $ 244,000
Purchase of convertible promissory notes $ 53,000 $ 58,000 $ 65,000 $ 68,000 $ 43,000
Principal amount increases percentage description150%-200%
Outstanding balance common stock percentage description4.99%
Convertible promissory notes outstanding balance125% to 140% up to 180 days
Principal and accrued interest converted into common stock shares | shares125,446,546
Premium and accrued interest repaid $ 63,284 $ 63,284
Securities Purchase Agreement with Auctus Fund, LLC
Rate of interest on promissory note24.00%
Annual interest rate12.00%
Conversion price percentage50%
Accrued interest balance $ 142,004
Promise to pay fund $ 33,180
Purchase of convertible promissory notes $ 600,000
Outstanding balance common stock percentage description4.99
Convertible promissory notes outstanding balance135% to 150% up to 180 days
Principal and accrued interest converted into common stock shares | shares376,000,000
Warrants issued in conjunction with issuance of debt | shares2,000,000
Number of trading days | integer25
Securities Purchase Agreement with JSJ Investments Inc
Annual interest rate12.00%
Promise to pay fund $ 43,680
Purchase of convertible promissory notes $ 112,000
Outstanding balance common stock percentage description4.99
Convertible promissory notes outstanding balance135% to 150% up to 180 days
Principal and accrued interest converted into common stock shares | shares18,500,000
Premium and accrued interest repaid $ 97,000
Warrants issued in conjunction with issuance of debt | shares333,333
Number of trading days | integer20
Securities Purchase Agreement with EMA Financial, LLC
Rate of interest on promissory note24.00%
Annual interest rate12.00%
Conversion price percentage55%
Promise to pay fund $ 35,366
Purchase of convertible promissory notes $ 250,000
Principal amount increases percentage description200%
Outstanding balance common stock percentage description4.99%
Convertible promissory notes outstanding balance135% to 150% up to 180 days
Principal and accrued interest converted into common stock shares | shares147,700,000
Warrants issued in conjunction with issuance of debt | shares1,000,000
Number of trading days | integer25
2019 Factoring Agreement
Maturity period of debt pay40 weeks
Promise to pay fund $ 18,840
Net of expenses500,000
Aggregate debt to pay $ 753,610
2020 NewCo Factoring Agreement
Rate of interest on promissory note36.00%
Balance debt to be purchased and sold $ 326,400
Net of fee received $ 232,800
Maturity period of debt pay28 weeks
Promise to pay fund $ 11,658
Samson Factoring Agreement
Rate of interest on promissory note36.00%
Balance debt to be purchased and sold $ 162,500
Net of fee received $ 118,625
Maturity period of debt pay20 weeks
Promise to pay fund $ 8,125
QFS Factoring Agreement
Rate of interest on promissory note36.00%
Balance debt to be purchased and sold $ 976,918
Net of fee received $ 696,781
Maturity period of debt pay42 weeks
Promise to pay fund $ 23,087
Receives weekly payments29,860
Receives weekly payments 121,978
Receives weekly payments 2 $ 11,669
Receives weekly payments period20 weeks
Receives weekly payments period 14 weeks
Receives weekly payments period 2week
NewCo Factoring Agreements
Rate of interest on promissory note36.00%
Balance debt to be purchased and sold $ 199,500
Net of fee received $ 144,750
Maturity period of debt pay36 weeks
Promise to pay fund $ 5,542
NewCo Factoring Agreements #3
Rate of interest on promissory note36.00%
Balance debt to be purchased and sold $ 133,000
Net of fee received $ 100,000
Maturity period of debt pay36 weeks
Promise to pay fund $ 3,695
Blue Collar
Line of credit bearing interest4.38%
1 month Libor plus bearing interest rate percentage1.125%
Line of credit $ 400,500 $ 400,500
Line of credit due dateMar. 25,
2021
Promissory note $ 1,600,000
Rate of interest on promissory note3.00%

DERIVATIVE FINANCIAL INSTRUME_3

DERIVATIVE FINANCIAL INSTRUMENTS (Details) - Level 3 - USD ($)6 Months Ended12 Months Ended
Jun. 30, 2021Dec. 31, 2020
Derivative liability, beginning $ 5,265,139 $ 8,836,514
Change in derivative liability from conversion of notes payable0 (1,144,290)
Change in derivative liabilities from the Odyssey conversion to a term loan0 (1,286,762)
Change in derivative liability - derivative expense0 (1,140,323)
Initial fair value of derivative liabilities77,897 0
Reclassification of certain derivative liabilities(185,108)0
Change in fair value of derivative liabilities at end of period(374,549)0
Derivative liability, ending $ 4,783,379 $ 5,265,139

DERIVATIVE FINANCIAL INSTRUME_4

DERIVATIVE FINANCIAL INSTRUMENTS (Details Narrative) - USD ($)6 Months Ended
Jun. 30, 2021Dec. 31, 2020Dec. 31, 2019
Warrants
Change in fair value of derivative liabilities $ 8,991
Convertible Notes
Change in fair value of derivative liabilities $ 4,774,388
Derivative Liability
Dividend yield0.00%
Derivative Liability | Minimum
Expected volatility129.20%
Weighted average risk-free interest rate0.50%
Quoted market price $ 0.039
Derivative Liability | Maximum
Expected volatility292.30%
Weighted average risk-free interest rate0.46%
Quoted market price $ 0.039
Expected life0.25 to 2.947 years
Level 3
Derivative liability $ 4,783,379 $ 5,265,139 $ 8,836,514
Change in fair value of derivative liabilities4,783,379
Gain from change in fair value of debt derivatives $ 374,549

STOCKHOLDERS DEFICIT (Details 1

STOCKHOLDERS DEFICIT (Details 1) - $ / shares6 Months Ended12 Months Ended
Jun. 30, 2021Dec. 31, 2020Dec. 31, 2019
Options outstanding, beginning1,000,000 3,000,000
Options expired(1,000,000)(2,000,000)
Options outstanding, ending0 1,000,000
Options vested1,000,000 3,000,000
Vesting period in months12 years
Exercise price outstanding and exercisable, beginning $ 0.10 $ 0.10
Exercise price expired0 0
Exercise price outstanding and exercisable, ending $ 0 $ 0.10
Expiration date3-21-21
Minimum
Vesting period in months12 years
Expiration date3-1-20
Maximum
Vesting period in months18 years
Expiration date3-21-21

STOCKHOLDERS DEFICIT (Details N

STOCKHOLDERS DEFICIT (Details Narrative) - USD ($)1 Months Ended3 Months Ended6 Months Ended12 Months Ended
Aug. 31, 2021May 28, 2021May 31, 2018Feb. 28, 2016Feb. 28, 2015Jun. 30, 2021Jun. 30, 2021Jun. 30, 2020Dec. 31, 2020Jun. 15, 2020
Common stock, par value $ 0.001 $ 0.001
Common stock, authorized1,000,000,000 1,000,000,000 1,000,000,000
Common stock, issued879,029,038 879,029,038 865,564,371
Common stock, outstanding879,029,038 879,029,038 865,564,371
Average Daily Trading Volume percentage200.00%
Beneficial ownership equity9.99%
Purchase Agreement percentage85.00%
Subscription receivable $ (3,265) $ (3,265)
Common stock share acquisition3,096,181
Note payable $ 2,000 $ 2,000
Common shares forgiven16,667
Shares issue during the period2,000
Expenses $ 0 $ 203,124
Preferred Stock , authorized1,000,000,000 1,000,000,000
Warrant expire4 years 6 months 14 days
Derivative liabilities $ 4,783,379 $ 4,783,379 $ 5,265,139
Total derivative liabilities4,783,379 4,783,379
TPT Strategic [Member]
Statement of operations23,407 29,051
Non-controlling interest ownership6.00%
Non-controlling interest liabilities $ 219,058
License agreement amount $ 3,500,000
Non-controlling interests Descriptionthe Company owns 94%, 75% and 78%, respectively.
QuikLAB 1 [Member]
Investment100,000 100,000
QuikLAB [Member]
Statement of operations18,841 40,223
Investment $ 460,000 $ 460,000
Owning percentage20.00%
Ownership percentage80.00%
Common Stock Reservations [Member]
Reserve common Stock shares1,000,000
Common stock shares for consideration20,000,000
General treasury90,000,000
Warrants [Member]
Warrants outstanding3,333,333 3,333,333
Warrant expire5 years
Warrant purchase3,333,333
Warrant common shares3,333,333
Derivative liabilities $ 8,991 $ 8,991
Total derivative liabilities4,783,379 $ 4,783,379
TPT MedTech [Member]
Restricted common stock shares4,450,000
Common stock fair value shares300,000
Statement of operations $ 16,200
TPT MedTech common share4,150,000
TPT MedTech common share, amount $ 275,975
Amortized into the statement of operations165,586
CEO [Member]
Purchased Series D Preferred Share, amount $ 183,244
Purchased Series D Preferred Share36,649
White Lion Capital LLC [Member] | Purchase Agreement [Member]
Shares issue during the period9,000,000
Escrow deposit $ 10,000,000
Common Stock Purchase Agreement $ 5,000,000
Aggregate purchase $ 5,000,000
Received proceeds $ 83,420
Arkady Shkolnik and Reginald Thomas [Member]
Restricted common stock shares5,000,000
Received $ 25,000
Restricted common stock shares, amount692,500
Cash payment25,000
Accrued accounts payable215,500 $ 215,500
Mr. Thomas [Member]
Restricted common stock shares1,000,000
Received $ 10,000
Restricted common stock shares, amount120,000
Cash payment10,000
Accrued accounts payable75,000 $ 75,000
InnovaQor Inc [Member]
Purchase outstanding shares500,000
Purchase outstanding shares amount $ 350,000
Common stock shares resale7,500,000
Michael A Littman Atty [Member]
Cash payment $ 74,397
Common stock shares resale7,500,000
Settle outstanding legal fees $ 74,397
Mr Littman [Member]
Shares issue during the period7,500,000
Accounts payable185,107 $ 185,107
Common stock shares issue for service5,964,667
Statement of operations expenses $ 127,441 $ 209,685
Series C Preferred Stock
Common stock, par value $ 0.001 $ 0.001 $ 0.001 $ 0.001
Preferred Stock , authorized3,000,000 3,000,000 3,000,000 3,000,000
Preferred Stock, issued0 0 0
Preferred Stock, outstanding0 0 0
Preferred Stock share price $ 2
Conversion price $ 0.15
Convertible notes payable $ 678,500 $ 678,500
Series A Preferred Stock
Common stock, par value $ 0.001 $ 0.001 $ 0.001 $ 0.001
Preferred Stock , authorized100,000,000 1,000,000 1,000,000 1,000,000
Preferred Stock, issued1,000,000 1,000,000 1,000,000 1,000,000
Preferred Stock, outstanding1,000,000 1,000,000 1,000,000 1,000,000
Option per shares $ 100
Compensation expense $ 3,117,000
A Preferred Stock percentage60.00%
A Preferred Stock percentage Two60.00%
A Preferred Stock voting rights percentage60.00%
Series B Preferred Stock
Common stock, par value $ 0.001 $ 0.001 $ 0.001
Preferred Stock , authorized3,000,000 3,000,000 3,000,000
Preferred Stock, issued2,588,693 2,588,693 2,588,693
Preferred Stock, outstanding2,588,693 2,588,693 2,588,693
Preferred Stock share price $ 2
Conversion price $ 2
Series D Preferred Stock
Common stock, par value $ 0.001 $ 0.001 $ 0.001
Preferred Stock , authorized10,000,000 10,000,000 100,000,000
Preferred Stock, issued30,749 30,749 0
Preferred Stock, outstanding30,749 30,749 0
Purchased Series D Preferred Share, amount $ 233,244
Purchased Series D Preferred Share46,649
Cumulative Annual Dividends rate6.00%
Average market percentage80.00%
Divided rate per share $ 5
Accrued unpaid dividends rate per shares $ 5
Financing arrangements amount $ 4,700,000
Exchange shares940,800
Series D Preferred Stock Private Placement $ 12,000,000
Rasing amount $ 12,000,000

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES (Details) - USD ($)Jun. 30, 2021Dec. 31, 2020
COMMITMENTS AND CONTINGENCIES
Related parties $ 1,342,038 $ 1,339,352
General operating5,508,346 3,965,135
Accrued interest on debt1,721,047 1,328,939
Credit card balances173,406 173,972
Accrued payroll and other expenses217,178 296,590
Taxes and fees payable641,555 641,012
Unfavorable lease liability60,582 121,140
Total $ 9,664,153 $ 7,866,140

COMMITMENTS AND CONTINGENCIES_3

COMMITMENTS AND CONTINGENCIES (Details 1)Jun. 30, 2021USD ($)
2021 $ 2,703,312
20221,855,230
20231,290,039
2024960,126
2025601,834
Thereafter157,306
Total operating lease liabilities7,567,849
Amount representing interest(975,464)
Total net present value(6,592,385)
Finance Lease
2021864,025
202210,780
20230
20240
20250
Thereafter0
Total operating lease liabilities874,805
Amount representing interest(23,246)
Total net present value $ (851,559)

COMMITMENTS AND CONTINGENCIES_4

COMMITMENTS AND CONTINGENCIES (Details 2)6 Months Ended
Jun. 30, 2021shares
Potentially dilutive securities1,727,605,549
Convertible Promissory Notes
Potentially dilutive securities421,447,906
Stock Options and Warrants [Member]
Potentially dilutive securities3,333,333
Series A Preferred Stock
Potentially dilutive securities1,279,184,625
Series B Preferred Stock
Potentially dilutive securities2,588,693
Series D Preferred Stock
Potentially dilutive securities21,050,993

COMMITMENTS AND CONTINGENCIES_5

COMMITMENTS AND CONTINGENCIES (Details Narrative) - USD ($)May 06, 2020Jun. 30, 2021Jun. 30, 2020Dec. 31, 2020Jun. 15, 2020Feb. 28, 2015
Operating lease liability $ 6,592,385 $ 5,555,674
Termination of lease payment descriptionsAgreements with a third party that allows the Company to pay between $10,780 and $11,288 per month, including interest, starting between November 16, 2020 and February 22, 2021 for eleven months with a $1 value acquisition price at the termination of the leases.
Annual salary $ 250,000
Lease expense $ 1,370,787
Lease term descriptionsThis operating agreement started October 1, 2020 for 7,140 per month.
Rent and utility $ 1,500 $ 15,000
Related party current portion $ 785,559 679,380
Weighted average discount rate10.00%
Weighted average lease term4 years 6 months 14 days
Customer liability $ 338,725 $ 338,725
Preferred stock, authorized1,000,000,000
SpeedConnect, LLC | Mr. Ogren
Back pay and benefits334,908
Securities Purchase Agreement | EMA Financial, LLC
Loss contingency(725,452)
Loss exposure claimed in excess650,975
Aire Fitness
Issuance of restricted common shares500,000
Stock issued to non-controlling interest owners500,000
Series D Preferred Stock
Preferred stock, authorized10,000,000 100,000,000
Proceeds from private placement $ 12,000,000
Percentage of common stock conversion80.00%
Price per share $ 5
Series A Preferred Stock
Preferred stock, authorized1,000,000 1,000,000 100,000,000
Percentage of common stock conversion60.00%
Mr. Serrett
Attorney fees3,500
Loss contingency75,000
Back pay and benefits $ 70,650
Default judgement dateMay 15, 2018

RELATED PARTY ACTIVITY (Details

RELATED PARTY ACTIVITY (Details Narrative) - USD ($)1 Months Ended6 Months Ended12 Months Ended
Aug. 31, 2018Jun. 30, 2021Dec. 31, 2020
Due to related parties $ 1,342,038 $ 1,339,352
Due to management and shareholders88,520
Blue Collar
Revenues0 235,149
Accounts receivable355
Accounts receivable outstanding $ 0 $ 0
Mr. Reginald Thomas [Member]
Amount received per quarter under agreement $ 10,000
Common stock shares restricted, shares1,000,000
Fair value of restricted shares $ 120,000
Suspended amount $ 10,000

GOODWILL AND INTANGIBLE ASSET_2

GOODWILL AND INTANGIBLE ASSETS (Details) - USD ($)6 Months Ended12 Months Ended
Jun. 30, 2021Dec. 31, 2020
Gross carrying amount $ 6,794,398 $ 6,794,398
Accumulated amortization2,448,767 2,079,457
Net book value4,345,631 4,714,941
Goodwill768,091 768,091
Customer Base
Gross carrying amount938,000 938,000
Accumulated amortization259,065 207,771
Net book value $ 678,935 $ 730,229
Customer Base | Minimum
Useful life3 years3 years
Customer Base | Maximum
Useful life10 years10 years
Developed Technology
Gross carrying amount $ 4,595,600 $ 4,595,600
Accumulated amortization1,872,287 1,616,975
Net book value $ 2,723,313 $ 2,978,625
Useful life9 years9 years
Film Library
Gross carrying amount $ 957,000 $ 957,000
Accumulated amortization213,200 177,100
Net book value $ 743,800 $ 779,900
Useful life11 years11 years
Trademarks and Tradenames
Gross carrying amount $ 132,000 $ 132,000
Accumulated amortization32,535 26,731
Net book value $ 99,465 $ 105,269
Useful life12 years12 years
Favorable Leases
Gross carrying amount $ 95,000 $ 95,000
Accumulated amortization67,840 50,880
Net book value $ 27,160 $ 44,120
Useful life3 years3 years
Other
Gross carrying amount $ 76,798 $ 76,798
Accumulated amortization3,840 0
Net book value $ 72,958 $ 76,798
Useful life10 years0 years

GOODWILL AND INTANGIBLE ASSET_3

GOODWILL AND INTANGIBLE ASSETS (Details 1) - USD ($)Jun. 30, 2021Dec. 31, 2020
GOODWILL AND INTANGIBLE ASSETS
2021 $ 389,744
2022730,059
2023719,859
2024719,859
2025719,859
Thereafter1,066,251
Net book value $ 4,345,631 $ 4,714,941

GOODWILL AND INTANGIBLE ASSET_4

GOODWILL AND INTANGIBLE ASSETS (Details Narrative) - USD ($)3 Months Ended6 Months Ended
Jun. 30, 2021Jun. 30, 2020Jun. 30, 2021Jun. 30, 2020
GOODWILL AND INTANGIBLE ASSETS
Amortization expense $ 184,655 $ 182,735 $ 369,310 $ 365,470

SEGMENT REPORTING (Details)

SEGMENT REPORTING (Details) - USD ($)3 Months Ended6 Months Ended
Jun. 30, 2021Jun. 30, 2020Jun. 30, 2021Jun. 30, 2020Dec. 31, 2020
Revenue from operation $ 2,579,180 $ 2,756,771 $ 5,291,530 $ 5,832,744
Cost of revenue(2,189,641)(1,628,260)(4,351,295)3,737,677
Net income (loss) before non-controlling interests(2,171,198)(2,470,210)(3,884,250)(2,495,988)
Total assets12,486,868 15,446,131 12,486,868 15,446,131 $ 12,836,688
Depreciation and amortization(348,997)(442,699)689,013 882,837
Derivative gain189,274 3,496,653 374,549 400,019
Interest expense(409,243)(287,344)(800,122)834,101
Derivative expense374,549 (400,019)
Corporate and Other
Revenue from operation26,490 27,252 72,744 42,166
Cost of revenue(72,231)23,189 (110,513)220,747
Net income (loss) before non-controlling interests(1,339,095)(2,202,487)(2,263,833)(2,992,406)
Total assets1,287,285 8,084,489 1,287,285 8,084,489
Depreciation and amortization(168,070)(292,793)(331,705)577,903
Interest expense(257,707)(251,469)(449,845)734,004
Derivative expense(189,274)(3,496,653)(374,549)(400,019)
TPT MedTech [Member]
Revenue from operation81,458 457,108
Cost of revenue384,233 766,208
Net income (loss) before non-controlling interests(610,830)(1,051,268)
Total assets483,597 483,597
Depreciation and amortization0 0
Interest expense0 0
Derivative expense0 0
Blue Collar
Revenue from operation511,454 172,687 711,454 526,092
Cost of revenue(212,565)(140,743)(335,830)288,838
Net income (loss) before non-controlling interests134,320 187,860 30,906 (245,955)
Total assets1,242,360 420,298 1,242,360 420,298
Depreciation and amortization(27,834)(37,112)(55,668)64,946
Interest expense(6,071)(9,426)(14,343)19,644
Derivative expense0 0 0 0
TPT SpeedConnect [Member]
Revenue from operation1,959,818 2,556,832 4,050,224 5,264,486
Cost of revenue(1,520,612)(1,510,706)(3,138,744)3,228,092
Net income (loss) before non-controlling interests(355,593)455,583 (600,055)742,373
Total assets9,473,626 6,941,344 9,473,626 6,941,344
Depreciation and amortization(153,093)(112,794)(301,640)239,988
Interest expense(145,465)(26,449)(335,934)80,453
Derivative expense $ 0 $ 0 $ 0 $ 0

SUBSEQUENT EVENTS (Details Narr

SUBSEQUENT EVENTS (Details Narrative) - USD ($)1 Months Ended
Jul. 23, 2021May 28, 2021Aug. 21, 2021
White Lion Capital LLC [Member] | Purchase Agreement [Member]
Outstanding balance of purchase amount $ 5,000,000
Escrow shares10,000,000
Common Stock Purchase Agreement [Member]
Common stock shares purchase, amount $ 5,000,000
Total shares of common stock purchase9,000,000
Proceeds received of common stock $ 83,420
Agreement descriptionsUnder the terms of the Purchase Agreement, White Lion agreed to provide the Company with up to $5,000,000 upon effectiveness of a registration statement on Form S-1 (the “Registration Statement”) filed with the U.S. Securities and Exchange Commission (the “Commission”). A Form S-1 was filed on June 30, 2021 regarding this transaction. Subsequent Amendments to Forms S-1 related to this transaction were filed on July 6, 2021 and July 14, 2021
Subsequent Event [Member] | Mr. Ogren [Member]
Back wages amount under arbitrator $ 334,908
Subsequent Event [Member] | Lendora Factoring Agreement [Member]
Outstanding balance of purchase amount299,800
Proceeds from net of fees amount $ 190,000
Payment term descriptionthe Company is to pay $18,737.5 per week for 16 weeks at an effective interest rate of approximately 36% annually. The Lendora Factoring Agreement includes a guaranty by the CEO of the Company, Stephen J. Thomas III.
Subsequent Event [Member] | Lendora Consolidation Agreement [Member]
Payment term descriptionPayments under this Lendora Consolidation Agreement supercedes all other factoring agreement payments and includes $ 31,728.85 per week, at an effective interest rate of approximately 36% annually, for 48 weeks.
Outstanding balances under the agreement $ 1,016,000