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BLAB Bio Lab Naturals

Document and Entity Information

Document and Entity Information - shares3 Months Ended
Mar. 31, 2021May 05, 2021
Cover [Abstract]
Document Type10-Q
Amendment Flagfalse
Document Quarterly Reporttrue
Document Transition Reportfalse
Document Period End DateMar. 31,
2021
Document Fiscal Period FocusQ1
Document Fiscal Year Focus2021
Current Fiscal Year End Date--12-31
Entity File Number333-239640
Entity Registrant NameBIO LAB NATURALS, INC.
Entity Central Index Key0001803977
Entity Tax Identification Number84-2288662
Entity Incorporation, State or Country CodeDE
Entity Address, Address Line One7400 E. Crestline Circle
Entity Address, Address Line TwoSuite 130
Entity Address, City or TownGreenwood Village
Entity Address, State or ProvinceCO
Entity Address, Postal Zip Code80111
City Area Code(720)
Local Phone Number273-0433
Entity Current Reporting StatusYes
Entity Interactive Data CurrentYes
Entity Filer CategoryNon-accelerated Filer
Entity Small Businesstrue
Entity Emerging Growth Companytrue
Elected Not To Use the Extended Transition Periodfalse
Entity Shell Companyfalse
Entity Common Stock, Shares Outstanding10,753,504

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)Mar. 31, 2021Dec. 31, 2020
Current assets
Cash $ 34,741 $ 69,065
Due from other7,275
Deposits108,150 10,000
Total current assets150,166 79,065
Equipment
Equipment, net of accumulated depreciation, $9,802 and $35,291, respectively76,166 167,672
Total Assets226,332 246,737
Current liabilities
Accounts payable and accrued liabilities5,759 17,126
Deposit65,000
Note payable35,000
Note payable, related party30,000
Total current liabilities135,759 17,126
Total liabilities135,759 17,126
Commitments and Contingencies
Stockholders' Equity
Preferred shares, $0.0001 par value, 5,000,000 shares authorized; Class A Convertible, deemed par value $0.04 per share; 500,000 shares issued and outstanding at March 31, 2021 and December 31, 202050 50
Common shares, $0.0001 par value, 200,000,000 shares authorized; 10,753,504 shares issued and outstanding at March 31, 2021 and December 31, 20201,075 1,075
Additional paid in capital35,672,338 35,672,338
Retained (deficit)(35,582,890)(35,443,852)
Total stockholders' equity90,573 229,611
Total Liabilities and Stockholders' Equity $ 226,332 $ 246,737

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($)Mar. 31, 2021Dec. 31, 2020
Accumulated depreciation $ 9,802 $ 35,291
Preferred shares, par value $ 0.0001 $ 0.0001
Preferred shares, shares authorized5,000,000 5,000,000
Common shares, par value $ 0.0001 $ 0.0001
Common shares, shares authorized200,000,000 200,000,000
Common shares, shares issued10,753,504 10,753,504
Common shares, shares outstanding10,753,504 10,753,504
Class A Convertible [Member]
Preferred shares, par value $ 0.04 $ 0.04
Preferred shares, shares issued500,000 500,000
Preferred shares, shares outstanding500,000 500,000

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($)3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Income Statement [Abstract]
Sales
Cost of sales
Cost of sales - other9,113 6,394
Depreciation3,760 8,449
Total cost of sales12,873 14,843
Gross profit(12,873)(14,843)
Operating expenses
Consulting fees, related party5,000 27,000
Consulting fees 10,500
General and administrative expenses - other6,378 10,134
Professional fees41,189 40,778
Total operating expenses52,567 88,412
Loss from operations(65,440)(103,255)
Other (expense)
Interest expense(552)
(Loss) on disposal of assets(73,046)
Total other (expense)(73,598)
Loss before income taxes(139,038)(103,255)
Income taxes
Net loss $ (139,038) $ (103,255)
Net loss per common share - basic and diluted $ (0.01) [1]
Weighted average number of common shares10,753,504 9,308,566
[1]Net loss is less than $0.01 per share.

Consolidated Statement of Chang

Consolidated Statement of Changes in Stockholders' Equity (Unaudited) - 3 months ended Mar. 31, 2021 - USD ($)Class A Convertible Preferred $0.0001 Par Value [Member]Common Shares $0.0001 Par Value [Member]Additional Paid-in Capital [Member]Accumulated (Deficit) [Member]Total
BALANCES at Dec. 31, 2020 $ 50 $ 1,075 $ 35,672,338 $ (35,443,852) $ 229,611
BALANCES, Shares at Dec. 31, 2020500,000 10,753,504
Net loss for the period (139,038)(139,038)
BALANCES at Mar. 31, 2021 $ 50 $ 1,075 $ 35,672,338 $ (35,582,890) $ 90,573
BALANCES, Shares at Mar. 31, 2021500,000 10,753,504

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)3 Months Ended
Mar. 31, 2021Mar. 31, 2020
OPERATING ACTIVITIES
Net loss $ (139,038) $ (103,255)
Adjustment to reconcile net loss to net cash flows used in operating activities
Depreciation3,760 8,449
Loss on disposition of asset73,046
Changes in:
Accounts receivable - net 13,000
Accounts payable and accrued liabilities(11,367)21,929
Net cash (used in) operating activities(73,599)(59,877)
INVESTING ACTIVITIES
Deposits(98,150)(10,000)
Proceeds from disposition of asset7,425
Net cash (used in) investing activities(90,725)(10,000)
FINANCING ACTIVITIES
Deposit65,000
Funding from loan35,000
Funds from related party, net of repayment30,000 10,930
Net cash provided by financing activities130,000 10,930
Net (decrease) in cash(34,324)(58,947)
Cash at beginning of period69,065 69,527
Cash at end of period34,741 10,580
Supplemental Schedule of Cash Flow Information:
Interest paid
Income taxes paid

Organization and History

Organization and History3 Months Ended
Mar. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and HistoryNote 1 – Organization and History Vyta Corp (the “Company”) was incorporated
in Nevada in June 1996. On August 20, 2010, it changed its state of incorporation to Delaware and on November 5, 2010 it changed
its name to Bio Lab Naturals, Inc. On August 20, 2010, the Company executed a redomicile merger with its wholly owned subsidiary
Vyta Corp (Delaware), as result of the merger the Company’s corporate domicile moved from Nevada to Delaware. Prior to 2011, the Company was involved in
various business activities and since then the Company has been seeking a business opportunity. Effective December 31, 2019, the Company entered
into a Reorganization Agreement with Prime Time Live, Inc., a Colorado corporation (“PTL”), whereby PTL merged with
a newly formed wholly owned subsidiary of the Company, and the subsidiary being the survivor in exchange for the Company issuing
one share of its common stock for each share of PTL’s 5,500,000 issued and outstanding shares of common stock.

Summary of Significant Accounti

Summary of Significant Accounting Policies3 Months Ended
Mar. 31, 2021
Accounting Policies [Abstract]
Summary of Significant Accounting PoliciesNote 2 – Summary of Significant Accounting
Policies Principles of Consolidation The accompanying consolidated financial statements
include the accounts of Bio Lab Naturals, Inc. and its wholly owned subsidiary. All intercompany balances have been eliminated
during consolidation. Use of Estimates in the Preparation of Consolidated
Financial Statements The preparation of consolidated financial statements
in conformity with generally accepted accounting principles in the United States requires management to make estimates and assumptions
that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the
consolidated financial statements, and the reported amounts of revenues and expenses during the reporting periods. Actual results
could differ from those estimates. Significant estimates include the fair value of assets and liabilities, income taxes and the
valuation allowances related to accounts receivable, deferred tax assets and contingencies. Cash and Cash Equivalents The Company considers all liquid
investments purchased with an initial maturity of three months or less to be cash equivalents. Cash and cash equivalents include
demand deposits carried at cost which approximates fair value. The Company maintains its cash in institutions insured by the Federal
Deposit Insurance Corporation (“FDIC”). Concentration of Credit Risk The Company offers its services to a small
number of clients. This risk of non-payment by these clients is considered minimal and the Company does not generally obtain collateral
for sales. The Company continually monitors the credit standing of its clients. Accounts Receivable The Company records accounts receivable at net realizable
value. This value includes an appropriate allowance for uncollectible accounts to reflect any loss anticipated on the accounts receivable
balances and is charged to other income (expense) in the statements of operations. Management calculates this allowance based on its
history of write-offs, the level of past-due accounts based on the contractual terms of the receivables, and the Company’s relationships
with, and the economic status of, its clients. At March 31, 2021 and December 31, 2020, there are no allowance for uncollectible accounts. Equipment Equipment is recorded at cost and consists
of screen video and related equipment. Expenditures for major additions and improvements are capitalized and minor replacements,
maintenance, and repairs are charged to expense as incurred. When equipment is retired or otherwise disposed of, the cost and accumulated
depreciation are removed from the accounts and any resulting gain or loss is included in the results of operations for the respective
period. Depreciation of equipment is over the estimated useful life of five to ten years using the straight-line method for consolidated
financial statement purposes. At March 31, 2021 and December 31, 2020, there were capitalized costs of $76,166 and $ $167,672,
respectively. Depreciation expense for the three months ended March 31, 2021 and 2020 was $3,760 and $8,449, respectively. During the three months ended March 31, 2021,
the Company sold a used screen for $14,700 and as a result reported a loss on the disposition of its asset in the amount of $73,046. Revenue recognition The Company follows the provisions of Accounting
Standards Update (“ASU”) No. 2014 - 09, Revenue from Contracts with Customers (Topic 606),
Under ASU 2014 - 09, the Company
recognizes revenue when control of the promised services is transferred to clients, in an amount that reflects the consideration
the Company expects to be entitled to in exchange for those services. The Company derives its revenues from the rendering
of entertainment rental services. The Company applies the following five steps in order to determine the appropriate amount of
revenue to be recognized as it fulfills its obligations under each of its contracts: Identify the contract with
a client; Identify the performance
obligations in the contract; Determine the transaction
price; Allocate the transaction
price to performance obligations in the contract; and Recognize revenue as the
performance obligation is satisfied. Impairment of Long-Lived Assets In accordance with authoritative guidance on
accounting for the impairment or disposal of long-lived assets, as set forth in Topic 360 of the ASC, the Company assesses the
recoverability of the carrying value of its long-lived assets when events occur that indicate an impairment in value may exist.
An impairment loss is indicated if the sum of the expected undiscounted future net cash flows is less than the carrying amount
of the assets. If this occurs, an impairment loss is recognized for the amount by which the carrying amount of the assets exceeds
the estimated fair value of the assets. Other Comprehensive Loss The Company has no material components of other
comprehensive loss and accordingly, net loss is equal to comprehensive loss for the period. Income Taxes The Company uses the liability method of accounting
for income taxes under which deferred tax assets and liabilities are recognized for the future tax consequences of temporary differences
between the accounting bases and the tax bases of the Company’s assets and liabilities. The deferred tax assets and liabilities
are computed using enacted tax rates in effect for the year in which the temporary differences are expected to reverse. The Company's deferred income taxes include
certain future tax benefits. The Company records a valuation allowance against any portion of those deferred income tax assets
when it believes, based on the weight of available evidence, it is more likely than not that some portion or all of the deferred
income tax asset will not be realized. The Company has adopted ASC guidance regarding
accounting for uncertainty in income taxes. This guidance clarifies the accounting for income taxes by prescribing the minimum
recognition threshold an income tax position is required to meet before being recognized in the consolidated financial statements
and applies to all income tax positions. Each income tax position is assessed using a two-step process. A determination is first
made as to whether it is more likely than not that the income tax position will be sustained, based upon technical merits, upon
examination by the taxing authorities. If the income tax position is expected to meet the more likely than not criteria, the benefit
recorded in the consolidated financial statements equals the largest amount that is greater than 50% likely to be realized upon
its ultimate settlement. At March 31, 2021 and December 31, 2020, there were no uncertain tax positions that required accrual. Goodwill In accordance with generally accepted accounting
principles, goodwill cannot be amortized, however, it must be tested annually for impairment. This impairment test is calculated
at the reporting unit level. The goodwill impairment test has two steps. The first identifies potential impairments by comparing
the fair value of a reporting unit with its book value, including goodwill. If the fair value of the reporting unit exceeds the
carrying amount, goodwill is not impaired and the second step is not necessary. If the carrying value exceeds the fair value, the
second step calculates the possible impairment loss by comparing the implied fair value of goodwill with the carrying amount. If
the implied goodwill is less than the carrying amount, a write-down is recorded. Management tests goodwill each year for impairment,
or when facts or circumstances indicate impairment has occurred. See Note 4 – Fair Value Measurements. Loss per Share Basic net loss per common share of stock is
calculated by dividing net loss available to common stockholders by the weighted-average number of common shares outstanding during
each period. Diluted net loss per common share is calculated by dividing net loss by the weighted-average number of common shares
outstanding, including the effect of other dilutive securities. The Company’s had no potentially dilutive securities issued
as of and during the three months ended March 31, 2021 and 2020. Equity Based Payments The Company recognizes compensation cost for
equity-based awards based on estimated fair value of the award and records capitalized cost or compensation expense over the requisite
service period. Off-Balance Sheet Arrangements As part of its ongoing business, the Company has
not participated in transactions that generate relationships with unconsolidated entities or financial partnerships, such as entities
often referred to as structured finance or special purpose entities (SPEs), which would have been established for the purpose of facilitating
off-balance sheet arrangements or other contractually narrow or limited purposes. For the period through March 31, 2021, the Company
has not been involved in any unconsolidated SPE transactions. Subsequent Events The Company evaluates events and transactions
after the balance sheet date but before the consolidated financial statements are issued.

Going Concern and Managements'

Going Concern and Managements' Plan3 Months Ended
Mar. 31, 2021
Going Concern And Managements Plan
Going Concern and Managements' PlanNote 3 – Going Concern and Managements’
Plan The Company’s consolidated financial
statements for the three months ended March 31, 2021 have been prepared on a going concern basis, which contemplates the realization
of assets and the settlement of liabilities in the normal course of business. The Company reported a net loss for the three months
ended March 31, 2021 of $139,038 and an accumulated deficit of $35,582,890 at March 31, 2021. The Company’s significant operating losses
raise substantial doubt about its ability to continue as a going concern within one year after the date of the issuance of these
consolidated financial statements. The future success of the Company is dependent on its ability to attract additional capital
and ultimately, upon its ability to develop future profitable operations. There can be no assurance that the Company will be successful
in obtaining such financing, or that it will attain positive cash flow from operations. However, management believes that actions
presently being taken to raise additional capital as more fully disclosed in these consolidated financial statements provides the
opportunity for the Company to continue as a going concern.

Fair Value Measurements

Fair Value Measurements3 Months Ended
Mar. 31, 2021
Fair Value Disclosures [Abstract]
Fair Value MeasurementsNote 4 – Fair Value Measurements The Company applies the authoritative guidance
applicable to all financial assets and liabilities required to be measured and reported on a fair value basis, as well as to non-financial
assets and liabilities measured at fair value on a non-recurring basis, including impairments of long-lived assets. The fair value
of an asset or liability is the amount that would be received to sell an asset or paid to transfer a liability (an exit price)
in an orderly transaction between market participants at the measurement date. The Company maximizes the use of observable inputs
and minimizes the use of unobservable inputs when measuring fair value. Observable inputs are inputs that market participants would
use in valuing the asset or liability based on market data obtained from sources independent of the Company. Unobservable input
are inputs that reflect the Company’s assumptions of what market participants would use in valuing the asset or liability
based on the information available in the circumstances. Financial and non-financial assets and liabilities
are classified within the valuation hierarchy based upon the lowest level of input that is significant to the fair value measurement.
The Company’s policy is to recognize transfers in and out of the fair value hierarchy as of the end of the reporting period
in which the event or change in circumstances caused the transfer. The Company has consistently applied the valuation techniques
discussed below in all periods presented. The hierarchy is organized into three levels based on the reliability of the inputs as
follows: Level 1: Quoted prices
in active markets for identical assets or liabilities; or Level 2: Quoted prices in active
markets for similar assets and liabilities and inputs, quoted prices for identical or similar assets or liabilities in markets
that are not active and model-derived valuations whose inputs or significant value drivers are observable; or Level 3: Unobservable pricing inputs
in which there is little or no market data, which requires the reporting entity to develop its own assumptions. The Company did not measure the financial or
non-financial assets and liabilities at March 31, 2021 as there was no event or significant change within the valuation hierarchy
during the three months ended March 31, 2021.

Debt

Debt3 Months Ended
Mar. 31, 2021
Debt Disclosure [Abstract]
DebtNote 5 – Debt Promissory Notes On March 1, 2021, an individual loaned the
Company $35,000 in exchange for an unsecured promissory note that included interest at the rate of ten percent (10%) per annum
on the unpaid principal balance with any unpaid principal and interest due on or before March 1, 2022. Interest is due and payable
on the 1 st Related Party On March 1, 2021, an affiliate of an officer
of the Company, loaned the Company $30,000 in exchange for an unsecured promissory note that included interest at the rate of ten
percent (10%) per annum on the unpaid principal balance with any unpaid principal and interest due on or before March 1, 2022.
At March 31, 2021, the Company owes $30,000 in principal plus $255 in accrued interest. See Note 8 - Related Party Transactions.

Stockholders' Equity

Stockholders' Equity3 Months Ended
Mar. 31, 2021
Stockholders' Equity Note [Abstract]
Stockholders' EquityNote 6 – Stockholders’ Equity Preferred Shares Class A Convertible At March 31, 2021 and December 31, 2020, there
are a total of 500,000 shares of Class A Convertible shares of preferred stock (“Class A”) issued and outstanding.
The Class A shares provide that when voting as a single class, the shares shall have the votes and the voting power at all times
to be at least 60% of the voting power of the Company. Further, the holders of the Class A shares at their discretion and subject
to a change of control and to the qualification by application to either NASQAD or NYSE Emerging Markets, can convert their one
share of Class A into two shares of the Company’s common stock, subject to adjustment. In addition, the holder of the shares
of Class A is entitled to a liquidation preference of the Company senior to all other securities of the Company. Common Shares The Company’s capital stock at March
31, 2021 consists of 200,000,000 authorized shares of $0.0001 par value common stock. At March 31, 2020 and December 31, 2020,
there were a total of 10,753,504 shares of common stock issued and outstanding, respectively.

Equity Based Payments

Equity Based Payments3 Months Ended
Mar. 31, 2021
Share-based Payment Arrangement [Abstract]
Equity Based PaymentsNote 7 – Equity Based Payments The Company accounts for equity-based payment
accruals under authoritative guidance as set forth in the Topics of the ASC. The guidance requires all equity-based payments to
employees and non-employees, including grants of employee and non-employee stock options and warrants, to be recognized in the
consolidated financial statements based at their fair values. 2014 Stock Incentive Plan Effective January 15, 2020, the Company’s
adopted its 2020 Stock Option and Award Plan (the “2020 Stock Incentive Plan”). Under the 2020 Stock Incentive Plan,
the Board of Directors may grant options or purchase rights to purchase common stock to officers, employees, and other persons
who provide services to the Company or any related company. The participants to whom awards are granted, the type of awards granted,
the number of shares covered for each award, and the purchase price, conditions and other terms of each award are determined by
the Board of Directors, except that the term of the options shall not exceed 10 years. A total of 2 million shares of the Company’s
common stock are subject to the 2020 Stock Incentive Plan. The shares issued for the 2020 Stock Incentive
Plan may be either treasury or authorized and unissued shares. During the three months ended March 31, 2021, the Company granted
no options under the 2020 Stock Incentive Plan.

Related Party Transactions

Related Party Transactions3 Months Ended
Mar. 31, 2021
Related Party Transactions [Abstract]
Related Party TransactionsNote 8 – Related Party Transactions Due to Related Parties During the three months ended March 31, 2021,
the Company borrowed $30,000 from an affiliate of one of its officers in exchange for an unsecured promissory note. During the three months ended March 31, 2020,
the Company borrowed $14,200 from an affiliate of one of its officers in exchange for an unsecured convertible promissory note. Consulting Fees During the three months ended March 31, 2021,
the Company incurred consulting fees in the amount of $5,000 to an officer and an affiliate of one of its officers. During the three months ended March 31, 2020,
the Company incurred consulting fees in the amount of $27,000 to an officer and an affiliate of one of its officers.

Subsequent Events

Subsequent Events3 Months Ended
Mar. 31, 2021
Subsequent Events [Abstract]
Subsequent EventsNote 9 – Subsequent Events Lease/Purchase Agreement During April 2021, the Company entered into
a twelve (12) month operating lease transaction pursuant with ASC 840 whereby a customer of the Company is leasing the Company’s
newly refurbished trailer for a total amount of $119,000 that includes an initial payment of $20,000 plus $9,000 per month, for
eleven (11) months, beginning June 1, 2021. At the expiration of the lease, the customer has the option to purchase the trailer
for an amount of $116,000.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)3 Months Ended
Mar. 31, 2021
Accounting Policies [Abstract]
Principles of ConsolidationPrinciples of Consolidation The accompanying consolidated financial statements
include the accounts of Bio Lab Naturals, Inc. and its wholly owned subsidiary. All intercompany balances have been eliminated
during consolidation.
Use of Estimates in the Preparation of Consolidated Financial StatementsUse of Estimates in the Preparation of Consolidated
Financial Statements The preparation of consolidated financial statements
in conformity with generally accepted accounting principles in the United States requires management to make estimates and assumptions
that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the
consolidated financial statements, and the reported amounts of revenues and expenses during the reporting periods. Actual results
could differ from those estimates. Significant estimates include the fair value of assets and liabilities, income taxes and the
valuation allowances related to accounts receivable, deferred tax assets and contingencies.
Cash and Cash EquivalentsCash and Cash Equivalents The Company considers all liquid
investments purchased with an initial maturity of three months or less to be cash equivalents. Cash and cash equivalents include
demand deposits carried at cost which approximates fair value. The Company maintains its cash in institutions insured by the Federal
Deposit Insurance Corporation (“FDIC”).
Concentration of Credit RiskConcentration of Credit Risk The Company offers its services to a small
number of clients. This risk of non-payment by these clients is considered minimal and the Company does not generally obtain collateral
for sales. The Company continually monitors the credit standing of its clients.
Accounts ReceivableAccounts Receivable The Company records accounts receivable at net realizable
value. This value includes an appropriate allowance for uncollectible accounts to reflect any loss anticipated on the accounts receivable
balances and is charged to other income (expense) in the statements of operations. Management calculates this allowance based on its
history of write-offs, the level of past-due accounts based on the contractual terms of the receivables, and the Company’s relationships
with, and the economic status of, its clients. At March 31, 2021 and December 31, 2020, there are no allowance for uncollectible accounts.
EquipmentEquipment Equipment is recorded at cost and consists
of screen video and related equipment. Expenditures for major additions and improvements are capitalized and minor replacements,
maintenance, and repairs are charged to expense as incurred. When equipment is retired or otherwise disposed of, the cost and accumulated
depreciation are removed from the accounts and any resulting gain or loss is included in the results of operations for the respective
period. Depreciation of equipment is over the estimated useful life of five to ten years using the straight-line method for consolidated
financial statement purposes. At March 31, 2021 and December 31, 2020, there were capitalized costs of $76,166 and $ $167,672,
respectively. Depreciation expense for the three months ended March 31, 2021 and 2020 was $3,760 and $8,449, respectively. During the three months ended March 31, 2021,
the Company sold a used screen for $14,700 and as a result reported a loss on the disposition of its asset in the amount of $73,046.
Revenue recognitionRevenue recognition The Company follows the provisions of Accounting
Standards Update (“ASU”) No. 2014 - 09, Revenue from Contracts with Customers (Topic 606),
Under ASU 2014 - 09, the Company
recognizes revenue when control of the promised services is transferred to clients, in an amount that reflects the consideration
the Company expects to be entitled to in exchange for those services. The Company derives its revenues from the rendering
of entertainment rental services. The Company applies the following five steps in order to determine the appropriate amount of
revenue to be recognized as it fulfills its obligations under each of its contracts: Identify the contract with
a client; Identify the performance
obligations in the contract; Determine the transaction
price; Allocate the transaction
price to performance obligations in the contract; and Recognize revenue as the
performance obligation is satisfied.
Impairment of Long-Lived AssetsImpairment of Long-Lived Assets In accordance with authoritative guidance on
accounting for the impairment or disposal of long-lived assets, as set forth in Topic 360 of the ASC, the Company assesses the
recoverability of the carrying value of its long-lived assets when events occur that indicate an impairment in value may exist.
An impairment loss is indicated if the sum of the expected undiscounted future net cash flows is less than the carrying amount
of the assets. If this occurs, an impairment loss is recognized for the amount by which the carrying amount of the assets exceeds
the estimated fair value of the assets.
Other Comprehensive LossOther Comprehensive Loss The Company has no material components of other
comprehensive loss and accordingly, net loss is equal to comprehensive loss for the period.
Income TaxesIncome Taxes The Company uses the liability method of accounting
for income taxes under which deferred tax assets and liabilities are recognized for the future tax consequences of temporary differences
between the accounting bases and the tax bases of the Company’s assets and liabilities. The deferred tax assets and liabilities
are computed using enacted tax rates in effect for the year in which the temporary differences are expected to reverse. The Company's deferred income taxes include
certain future tax benefits. The Company records a valuation allowance against any portion of those deferred income tax assets
when it believes, based on the weight of available evidence, it is more likely than not that some portion or all of the deferred
income tax asset will not be realized. The Company has adopted ASC guidance regarding
accounting for uncertainty in income taxes. This guidance clarifies the accounting for income taxes by prescribing the minimum
recognition threshold an income tax position is required to meet before being recognized in the consolidated financial statements
and applies to all income tax positions. Each income tax position is assessed using a two-step process. A determination is first
made as to whether it is more likely than not that the income tax position will be sustained, based upon technical merits, upon
examination by the taxing authorities. If the income tax position is expected to meet the more likely than not criteria, the benefit
recorded in the consolidated financial statements equals the largest amount that is greater than 50% likely to be realized upon
its ultimate settlement. At March 31, 2021 and December 31, 2020, there were no uncertain tax positions that required accrual.
GoodwillGoodwill In accordance with generally accepted accounting
principles, goodwill cannot be amortized, however, it must be tested annually for impairment. This impairment test is calculated
at the reporting unit level. The goodwill impairment test has two steps. The first identifies potential impairments by comparing
the fair value of a reporting unit with its book value, including goodwill. If the fair value of the reporting unit exceeds the
carrying amount, goodwill is not impaired and the second step is not necessary. If the carrying value exceeds the fair value, the
second step calculates the possible impairment loss by comparing the implied fair value of goodwill with the carrying amount. If
the implied goodwill is less than the carrying amount, a write-down is recorded. Management tests goodwill each year for impairment,
or when facts or circumstances indicate impairment has occurred. See Note 4 – Fair Value Measurements.
Loss per ShareLoss per Share Basic net loss per common share of stock is
calculated by dividing net loss available to common stockholders by the weighted-average number of common shares outstanding during
each period. Diluted net loss per common share is calculated by dividing net loss by the weighted-average number of common shares
outstanding, including the effect of other dilutive securities. The Company’s had no potentially dilutive securities issued
as of and during the three months ended March 31, 2021 and 2020.
Equity Based PaymentsEquity Based Payments The Company recognizes compensation cost for
equity-based awards based on estimated fair value of the award and records capitalized cost or compensation expense over the requisite
service period.
Off-Balance Sheet ArrangementsOff-Balance Sheet Arrangements As part of its ongoing business, the Company has
not participated in transactions that generate relationships with unconsolidated entities or financial partnerships, such as entities
often referred to as structured finance or special purpose entities (SPEs), which would have been established for the purpose of facilitating
off-balance sheet arrangements or other contractually narrow or limited purposes. For the period through March 31, 2021, the Company
has not been involved in any unconsolidated SPE transactions.
Subsequent EventsSubsequent Events The Company evaluates events and transactions
after the balance sheet date but before the consolidated financial statements are issued.

Organization and History (Detai

Organization and History (Details) - sharesMar. 31, 2021Dec. 31, 2020Mar. 31, 2020Dec. 31, 2019
Common shares, shares issued10,753,504 10,753,504 10,753,504
Common shares, shares outstanding10,753,504 10,753,504 10,753,504
Prime Time Live, Inc [Member]
Common shares, shares issued5,500,000
Common shares, shares outstanding5,500,000

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details) - USD ($)3 Months Ended
Mar. 31, 2021Mar. 31, 2020Dec. 31, 2020
Accounting Policies [Abstract]
Capitalized costs $ 76,166 $ 167,672
Depreciation expense3,760 $ 8,449
Sell of used screen14,700
Loss on disposition of asset $ 73,046

Going Concern and Managements_2

Going Concern and Managements' Plan (Details) - USD ($)3 Months Ended
Mar. 31, 2021Mar. 31, 2020Dec. 31, 2020
Going Concern And Managements Plan
Net loss $ 139,038 $ 103,255
Accumulated deficit $ 35,582,890 $ 35,443,852

Debt (Details)

Debt (Details) - Unsecured convertible promissory note [Member] - USD ($)Mar. 31, 2021Mar. 01, 2021
An affiliate of an officer of Company [Member]
Debt Instrument [Line Items]
Debt instrument face amount $ 30,000
Interest rate10.00%
Debt instrument face amount owed $ 30,000
Accrued interest255
An individual loan of Company [Member]
Debt Instrument [Line Items]
Debt instrument face amount $ 35,000
Interest rate10.00%
Debt instrument face amount owed30,000
Accrued interest $ 297

Stockholders' Equity (Details)

Stockholders' Equity (Details) - $ / shares3 Months Ended
Mar. 31, 2021Dec. 31, 2020Mar. 31, 2020
Common shares, par value $ 0.0001 $ 0.0001
Common shares, shares authorized200,000,000 200,000,000
Common shares, shares issued10,753,504 10,753,504 10,753,504
Common shares, shares outstanding10,753,504 10,753,504 10,753,504
Class A Convertible [Member]
Preferred shares, shares issued500,000 500,000
Preferred shares, shares outstanding500,000 500,000
Voting rightsThe Class A shares provide that when voting as a single class, the shares shall have the votes and the voting power at all times to be at least 60% of the voting power of the Company.

Equity Based Payments (Details)

Equity Based Payments (Details) - 2020 Stock Incentive Plan [Member]3 Months Ended
Mar. 31, 2021shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options term10 years
Common stock issued2,000,000

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($)3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Related Party Transaction [Line Items]
Consulting fees, related party $ 5,000 $ 27,000
Interest paid
Affiliate officers [Member] | Unsecured convertible promissory note [Member]
Related Party Transaction [Line Items]
Debt instrument face amount owed30,000 14,200
Officers and Affiliate [Member]
Related Party Transaction [Line Items]
Consulting fees, related party $ 5,000 $ 27,000

Subsequent Events (Details)

Subsequent Events (Details) - Subsequent Event [Member]1 Months Ended
Apr. 30, 2021USD ($)
Subsequent Event [Line Items]
Operating lease term12 months
Operating lease payments $ 119,000
Initial payment20,000
Operating lease monthly payments $ 9,000
Term of operating lease monthly payments11 months
Amount of option to purchase trailor $ 116,000