Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2021 | Mar. 04, 2022 | Jun. 30, 2021 | |
Details | |||
Registrant CIK | 0000797564 | ||
Fiscal Year End | --12-31 | ||
Entity Emerging Growth Company | true | ||
Entity Shell Company | false | ||
Entity Small Business | true | ||
Entity Voluntary Filers | No | ||
Entity Ex Transition Period | false | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2021 | ||
Entity File Number | 000-15303 | ||
Entity Registrant Name | HST GLOBAL, INC. | ||
Entity Incorporation, State or Country Code | NV | ||
Entity Tax Identification Number | 73-1215433 | ||
Entity Address, Address Line One | 150 Research Drive | ||
Entity Address, City or Town | Hampton | ||
Entity Address, State or Province | VA | ||
Entity Address, Postal Zip Code | 23666 | ||
City Area Code | 757 | ||
Local Phone Number | 766-6100 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Current Reporting Status | Yes | ||
Entity Interactive Data Current | Yes | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Public Float | $ 96,779 | ||
Entity Common Stock, Shares Outstanding | 5,248,582 | ||
Amendment Flag | false | ||
Document Fiscal Year Focus | 2021 | ||
Document Fiscal Period Focus | FY | ||
Document Annual Report | true | ||
Document Transition Report | false |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - USD ($) | Dec. 31, 2021 | Dec. 31, 2020 |
Current Assets | ||
Cash and cash equivalents | $ 225 | $ 660 |
Total Current Assets | 225 | 660 |
Total Assets | 225 | 660 |
LIABILITIES AND STOCKHOLDERS' DEFICIT | ||
Total Liabilities | 301,008 | 153,083 |
Stockholders' Deficit | ||
Preferred stock; 10,000,000 shares authorized, at $0.001 par value, 0 shares issued and outstanding at December 31, 2021 and 2020 | 0 | 0 |
Common stock; 200,000,000 shares authorized, at $0.001 par value, 5,248,582 and 55,248,582 shares issued and outstanding at December 31, 2021 and 2020, respectively | 5,248 | 5,248 |
Additional paid-in capital | 5,417,236 | 5,417,236 |
Accumulated deficit | (5,723,267) | (5,574,907) |
Total Stockholders' Deficit | (300,783) | (152,423) |
Current Liabilities | ||
Accounts Payable and Accrued Liabilities, Current | 0 | 4,918 |
Accounts payable and accrued expenses - related parties | 242,275 | 121,475 |
Loans or advances from related party | 55,077 | 25,676 |
Accrued related party interest | 3,656 | 1,014 |
Total Current Liabilities | 301,008 | 153,083 |
Total Liabilities and Stockholders' Deficit | $ 225 | $ 660 |
CONSOLIDATED BALANCE SHEETS - P
CONSOLIDATED BALANCE SHEETS - Parenthetical - $ / shares | Dec. 31, 2021 | Dec. 31, 2020 |
Details | ||
Preferred Stock, Shares Authorized | 10,000,000 | 10,000,000 |
Preferred Stock, Par or Stated Value Per Share | $ 0.001 | $ 0.001 |
Preferred Stock, Shares Issued | 0 | 0 |
Preferred Stock, Shares Outstanding | 0 | 0 |
Common Stock, Shares Authorized | 200,000,000 | 200,000,000 |
Common Stock, Par or Stated Value Per Share | $ 0.001 | $ 0.001 |
Common Stock, Shares, Issued | 5,248,582 | 5,248,582 |
Common Stock, Shares, Outstanding | 5,248,582 | 5,248,582 |
CONSOLIDATED STATEMENTS OF OPER
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Details | ||
Revenues | $ 0 | $ 0 |
Operating Expenses | ||
Consulting, related party | 120,000 | 180,000 |
General and administrative | 25,718 | 27,978 |
Total Operating Expenses | 145,718 | 207,978 |
Net Loss from Operations | (145,718) | (207,978) |
Other Income (Expense) | ||
Interest expense | (2,642) | (1,014) |
Total Other Income (Expense) | (2,642) | (1,014) |
NET LOSS | $ (148,360) | $ (208,992) |
Earnings (Loss) Per Share: Basic and Diluted - Common | $ (0.03) | $ (0.04) |
Weighted Average Shares Outstanding: Basic and Diluted - Common | 5,248,582 | 4,771,066 |
CONSOLIDATED STATEMENTS OF STOC
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' DEFICIT - 12 months ended Dec. 31, 2021 - USD ($) | Common Stock | Additional Paid-in Capital | Retained Earnings | Total |
Balance, December 31, 2020 at Dec. 31, 2020 | $ 5,248 | $ 5,417,236 | $ (5,574,907) | $ (152,423) |
Net Income (Loss) | 0 | 0 | (148,360) | (148,360) |
Balance, December 31, 2021 at Dec. 31, 2021 | $ 5,248 | $ 5,417,236 | $ (5,723,267) | $ (300,783) |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Cash Flows from Operating Activities | ||
Net income (loss) | $ (148,360) | $ (208,992) |
Adjustments to reconcile net income (loss) to net cash used in operating activities | ||
Shares issued to a related party for consulting services | 0 | 60,000 |
Changes in operating assets and liabilities | ||
Accounts payable and accrued expenses | (4,918) | 1,007 |
Accrued officer compensation | 120,800 | 120,000 |
Accrued related party interest | 2,642 | 1,014 |
Net Cash used in Operating Activities | (29,836) | (26,971) |
Cash Flows from Investing Activities | ||
Net Cash used in Investing Activities | 0 | 0 |
Cash Flows from Financing Activities | ||
Proceeds from notes payable - related party | 29,401 | 25,676 |
Net cash provided by financing activities | 29,401 | 25,676 |
Net change in cash | (435) | (1,295) |
Cash at Beginning of Period | 660 | 1,955 |
Cash at End of Period | 225 | 660 |
Supplemental Disclosures of Cash Flow Information | ||
Cash paid for interest | 0 | 0 |
Cash paid for taxes | 0 | 0 |
Supplemental schedule of non-cash investing and financing activities | ||
Accounts payable and accrued expenses converted to common stock | 0 | 0 |
Notes payable and accrued interest converted to common stock | 0 | 0 |
Derecognition of related party debt | $ 0 | $ 0 |
Financial Statement Contents
Financial Statement Contents | 12 Months Ended |
Dec. 31, 2021 | |
Notes | |
Financial Statement Contents | Description Page Reports of Independent Registered Public Accounting Firms ( PCAOB Firm ID 76 8 Consolidated Balance Sheets 9 Consolidated Statements of Operations 10 Consolidated Statements of Stockholders' Deficit 11 Consolidated Statements of Cash Flows 12 Notes to Consolidated Financial Statements 13 |
Auditor Information
Auditor Information | 12 Months Ended |
Dec. 31, 2021 | |
Notes | |
Auditor Information | /s/ Turner, Stone & Company, LLP Dallas, Texas March 4, 2022 |
NOTE 1 - ORGANIZATION AND PRINC
NOTE 1 - ORGANIZATION AND PRINCIPAL ACTIVITIES | 12 Months Ended |
Dec. 31, 2021 | |
Notes | |
NOTE 1 - ORGANIZATION AND PRINCIPAL ACTIVITIES | NOTE 1 - ORGANIZATION AND PRINCIPAL ACTIVITIES HST Global, Inc. (“the Company”) was incorporated on April 11, 1984 under the laws of the State of Delaware under the name of NT Holding Corporation. The Company has made several acquisitions and disposals of various business entities and activities. On May 9, 2008, the Company entered into a Merger and share exchange agreement with Health Source Technologies, Inc. This business acquisition has been accounted for as a reverse merger or recapitalization of Health Source Technologies, Inc. At the time of the merger NT Holding Corporation had disposed of its assets and liabilities and had minimal operations. Immediately after the acquisition the Company changed its name to HST Global, Inc. Health Source Technologies, Inc. was incorporated under the laws of the State of Nevada on August 6, 2007. The Company is currently headquartered in Hampton, Virginia. HST Global, Inc. is an integrated Health and Wellness Biotechnology company with a plan to develop and/or acquire a network of Wellness Centers worldwide with the primary focus on homeopathic and alternative treatments of late stage cancer and other life threatening diseases. In addition, the Company intends to acquire innovative products for the treatment of life threatening diseases. The Company primarily focuses on homeopathic and alternative product candidates that are undergoing or have already completed significant clinical testing for the treatment of late stage cancer and/or life threatening diseases. To date we have been unable to initiate our original business plan. While we are continuing to seek opportunities to do so, we are also seeking other opportunities to integrate assets, rights, or other potential revenue streams. |
NOTE 2 - SIGNIFICANT ACCOUNTING
NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES | 12 Months Ended |
Dec. 31, 2021 | |
Notes | |
NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES | NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying consolidated financial statements and related notes include the activity of the Company and have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and with the rules and regulations of the United States Securities and Exchange Commission (“SEC”) to Form 10-K. Principles of Consolidation The consolidated financial statements include our wholly-owned subsidiary, Health Source Technologies, Inc. Intercompany balances and transactions have been eliminated. Accounting Method The Company’s financial statements are prepared using the accrual method of accounting. The Company has elected a December 31 year-end. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates. Cash and Cash Equivalents We maintain cash balances in non-interest-bearing accounts, which do not currently exceed federally insured limits. For the purpose of the statements of cash flows, all highly liquid investments with an original maturity of three months or less are considered to be cash equivalents. Income Taxes The Company accounts for income taxes in accordance with accounting guidance now codified as FASB ASC 740, " Income Taxes The Company applies the provisions of ASC 740, “ Accounting for Uncertainty in Income Taxes Basic and Diluted Loss Per Share The computations of basic loss per share of common stock are based on the weighted average number of shares outstanding at the date of the financial statements. The Company computes net income (loss) per share in accordance with ASC 260. 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 shareholders (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 and convertible preferred stock using the if-converted method. 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 antidilutive. The Company had no common stock equivalents outstanding as of December 31, 2021 and 2020. Stock-Based Compensation The Company adopted ASC 718, “Stock Compensation Fair Value of Financial Instruments ASC 820 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (an exit price). The standard outlines a valuation framework and creates a fair value hierarchy in order to increase the consistency and comparability of fair value measurements and the related disclosures. Under this standard certain assets and liabilities must be measured at fair value, and disclosures are required for items measured at fair value. The Company currently does not have non-financial assets or non-financial liabilities that are required to be measured at fair value on a recurring basis. The Company’s financial assets and liabilities are measured using inputs from the three levels of the fair value hierarchy. The three levels are as follows: Level 1 - Inputs are unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. The fair value of the Company’s cash is based on quoted prices and therefore classified as Level 1. Level 2 - Inputs include quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability (e.g., interest rates, yield curves, etc.), and inputs that are derived principally from or corroborated by observable market data by correlation or other means (market corroborated inputs). Level 3 - Unobservable inputs that reflect our assumptions about the assumptions that market participants would use in pricing the asset or liability. Recently Issued Accounting Pronouncements Management has considered all recent accounting pronouncements issued since the last audit of our consolidated financial statements. The Company’s management believes that these recent pronouncements will not have a material effect on the Company’s consolidated financial statements. |
NOTE 3 - GOING CONCERN
NOTE 3 - GOING CONCERN | 12 Months Ended |
Dec. 31, 2021 | |
Notes | |
NOTE 3 - GOING CONCERN | NOTE 3 – GOING CONCERN The Company’s consolidated financial statements are prepared using generally accepted accounting principles in the United States of America applicable to a going concern which contemplates the realization of assets and liquidation of liabilities in the normal course of business within one year after the date these financial statements were issued. The Company has not yet established an ongoing source of revenues sufficient to cover its operating costs and allow it to continue as a going concern. There is substantial doubt that the Company can continue as a going concern for a period of one year from the issuance of these financial statements. The ability of the Company to continue as a going concern is dependent on the Company obtaining adequate capital to fund operating losses until it becomes profitable. If the Company is unable to obtain adequate capital, it could be forced to cease operations. Management’s plan to support the Company in its operations and to maintain its business strategy is to raise funds through public offerings and to rely on officers and directors to perform essential functions with minimal compensation. If the Company does not raise all of the money it needs from public offerings, it will have to find alternative sources, such as a second public offering, a private placement of securities, or loans from its officers, directors or others. If the Company requires additional cash and is unable to raise it, it will either have to suspend operations until the cash is raised, or cease business entirely. The ability of the Company to continue as a going concern is dependent upon its ability to successfully accomplish the plans described in the preceding paragraph and eventually secure other sources of financing and attain profitable operations. The accompanying financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern. |
NOTE 4 - ACCOUNTS PAYABLE AND A
NOTE 4 - ACCOUNTS PAYABLE AND ACCURED EXPENSES - RELATED PARTIES | 12 Months Ended |
Dec. 31, 2021 | |
Notes | |
NOTE 4 - ACCOUNTS PAYABLE AND ACCURED EXPENSES - RELATED PARTIES | NOTE 4 – ACCOUNTS PAYABLE AND ACCURED EXPENSES – RELATED PARTIES Accounts payable and accrued expenses - related parties consist of the following at December 31, 2021 and 2020: December 31, 2021 December 31, 2020 The Health Network, Inc. $ 2,275 $ 1,475 Ronald Howell 240,000 120,000 Total $ 242,275 $ 121,475 Please see Note 5 for further explanation of these liabilities. |
NOTE 5 - RELATED PARTY TRANSACT
NOTE 5 - RELATED PARTY TRANSACTIONS | 12 Months Ended |
Dec. 31, 2021 | |
Notes | |
NOTE 5 - RELATED PARTY TRANSACTIONS | NOTE 5 - RELATED PARTY TRANSACTIONS Notes Payable – Related Parties Total related party notes payable as of December 31, 2020 were $25,676. During the year ended December 31, 2021, the Company received $29,401 in additional cash loans. Executive Offices The Company's executive offices are located at 150 Research Dr., Hampton VA. These offices are leased by The Health Network, Inc. ("THN"), of which Ron Howell is President. THN allows the Company to use the office space without a formal sublease or rental agreement. Consulting Agreements The Company has entered into a consulting agreement with Mr. Howell, President of the Company, whereby the Company agreed to pay Mr. Howell $10,000 per month for consulting services through December 31, 2010. The Company had agreed to continue to engage Mr. Howell as a consultant until his consulting services are no longer required. The agreement was suspended from July, 2019 through December, 2019 due to the pendency of the APA, and has resumed beginning in January, 2020 due to the termination of the APA. During the years ended December 31, 2021 and 2020, the Company recognized $120,000 for consulting fees in each year for Ronald Howell. As of December 31, 2021 and 2020, the Company owed Mr. Howell $240,000 and $120,000 under the consulting agreement. On June 23, 2020, the Company agreed to issue an additional 1,000,000 shares of restricted common stock (which increased stock value by $1,000 and Additional Paid-In Capital by $59,000) to Mr. Howell in consideration for consulting services during the pendency of the APA, in lieu of the $60,000 in consulting fees that were suspended in 2019 due to the potential transaction. |
NOTE 6 - COMMON STOCK
NOTE 6 - COMMON STOCK | 12 Months Ended |
Dec. 31, 2021 | |
Notes | |
NOTE 6 - COMMON STOCK | NOTE 6 – COMMON STOCK None. |
NOTE 7 - INCOME TAXES
NOTE 7 - INCOME TAXES | 12 Months Ended |
Dec. 31, 2021 | |
Notes | |
NOTE 7 - INCOME TAXES | NOTE 7 – INCOME TAXES The Company follows ASC 740, under which deferred income taxes reflect the net effect of (a) temporary difference between carrying amounts of assets and liabilities for financial purposes and the amounts used for income tax reporting purposes, and (b) net operating loss carry-forwards. No net provision for refundable Federal income tax has been made in the accompanying statement of loss because no recoverable taxes were paid previously. Similarly, no deferred tax asset attributable to the net operating loss carry-forward has been recognized, as it is not deemed likely to be realized. The cumulative tax effect at the expected rate of 21 percent of significant items comprising our net deferred tax amount is as follows: Year ended December 31, 2021 Year ended December 31, 2020 Income tax benefit attributable to: Net operating loss $ (31,156) $ (43,888) Change in valuation allowance 31,156 Net refundable amount $ - $ - The cumulative tax effect at the expected rate of 21 percent (for 2021 & 2020) of significant items comprising our net deferred tax amount is as follows: December 31, 2021 December 31, 2020 Deferred tax asset attributable to: Net operating loss carry forwards $ (1,223,277) $ (1,192,121) Common stock issued for services 113,692 113,692 Valuation allowance 1,109,585 1,078,429 Net deferred tax asset $ - $ - The Company’s zero percent effective tax rate for each year, as compared to the 21 percent statutory rate, results from non-deductible stock based compensation and the change in valuation allowance. At December 31, 2021, the Company had an unused net operating loss carry-forward of approximately $5,283,741 that is available to offset future taxable income; the loss carry-forward will begin to expire in 2027. |
NOTE 8 - SUBSEQUENT EVENTS
NOTE 8 - SUBSEQUENT EVENTS | 12 Months Ended |
Dec. 31, 2021 | |
Notes | |
NOTE 8 - SUBSEQUENT EVENTS | NOTE 8 – SUBSEQUENT EVENTS In accordance with ASC 855, Company management reviewed all material events through the date of this report and determined that there are no material subsequent events to report. |
NOTE 2 - SIGNIFICANT ACCOUNTI_2
NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES: Basis of Presentation (Policies) | 12 Months Ended |
Dec. 31, 2021 | |
Policies | |
Basis of Presentation | Basis of Presentation The accompanying consolidated financial statements and related notes include the activity of the Company and have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and with the rules and regulations of the United States Securities and Exchange Commission (“SEC”) to Form 10-K. |
NOTE 2 - SIGNIFICANT ACCOUNTI_3
NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES: Principles of Consolidation (Policies) | 12 Months Ended |
Dec. 31, 2021 | |
Policies | |
Principles of Consolidation | Principles of Consolidation The consolidated financial statements include our wholly-owned subsidiary, Health Source Technologies, Inc. Intercompany balances and transactions have been eliminated. |
NOTE 2 - SIGNIFICANT ACCOUNTI_4
NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES: Accounting Method (Policies) | 12 Months Ended |
Dec. 31, 2021 | |
Policies | |
Accounting Method | Accounting Method The Company’s financial statements are prepared using the accrual method of accounting. The Company has elected a December 31 year-end. |
NOTE 2 - SIGNIFICANT ACCOUNTI_5
NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES: Use of Estimates (Policies) | 12 Months Ended |
Dec. 31, 2021 | |
Policies | |
Use of Estimates | Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates. |
NOTE 2 - SIGNIFICANT ACCOUNTI_6
NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES: Cash and Cash Equivalents (Policies) | 12 Months Ended |
Dec. 31, 2021 | |
Policies | |
Cash and Cash Equivalents | Cash and Cash Equivalents We maintain cash balances in non-interest-bearing accounts, which do not currently exceed federally insured limits. For the purpose of the statements of cash flows, all highly liquid investments with an original maturity of three months or less are considered to be cash equivalents. |
NOTE 2 - SIGNIFICANT ACCOUNTI_7
NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES: Income Taxes (Policies) | 12 Months Ended |
Dec. 31, 2021 | |
Policies | |
Income Taxes | Income Taxes The Company accounts for income taxes in accordance with accounting guidance now codified as FASB ASC 740, " Income Taxes The Company applies the provisions of ASC 740, “ Accounting for Uncertainty in Income Taxes |
NOTE 2 - SIGNIFICANT ACCOUNTI_8
NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES: Basic and Diluted Income (Loss) Per Share (Policies) | 12 Months Ended |
Dec. 31, 2021 | |
Policies | |
Basic and Diluted Income (Loss) Per Share | Basic and Diluted Loss Per Share The computations of basic loss per share of common stock are based on the weighted average number of shares outstanding at the date of the financial statements. The Company computes net income (loss) per share in accordance with ASC 260. 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 shareholders (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 and convertible preferred stock using the if-converted method. 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 antidilutive. The Company had no common stock equivalents outstanding as of December 31, 2021 and 2020. |
NOTE 2 - SIGNIFICANT ACCOUNTI_9
NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES: Stock-Based Compensation (Policies) | 12 Months Ended |
Dec. 31, 2021 | |
Policies | |
Stock-Based Compensation | Stock-Based Compensation The Company adopted ASC 718, “Stock Compensation |
NOTE 2 - SIGNIFICANT ACCOUNT_10
NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES: Fair Value of Financial Instruments (Policies) | 12 Months Ended |
Dec. 31, 2021 | |
Policies | |
Fair Value of Financial Instruments | Fair Value of Financial Instruments ASC 820 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (an exit price). The standard outlines a valuation framework and creates a fair value hierarchy in order to increase the consistency and comparability of fair value measurements and the related disclosures. Under this standard certain assets and liabilities must be measured at fair value, and disclosures are required for items measured at fair value. The Company currently does not have non-financial assets or non-financial liabilities that are required to be measured at fair value on a recurring basis. The Company’s financial assets and liabilities are measured using inputs from the three levels of the fair value hierarchy. The three levels are as follows: Level 1 - Inputs are unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. The fair value of the Company’s cash is based on quoted prices and therefore classified as Level 1. Level 2 - Inputs include quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability (e.g., interest rates, yield curves, etc.), and inputs that are derived principally from or corroborated by observable market data by correlation or other means (market corroborated inputs). Level 3 - Unobservable inputs that reflect our assumptions about the assumptions that market participants would use in pricing the asset or liability. |
NOTE 2 - SIGNIFICANT ACCOUNT_11
NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES: Recently Issued Accounting Pronouncements (Policies) | 12 Months Ended |
Dec. 31, 2021 | |
Policies | |
Recently Issued Accounting Pronouncements | Recently Issued Accounting Pronouncements Management has considered all recent accounting pronouncements issued since the last audit of our consolidated financial statements. The Company’s management believes that these recent pronouncements will not have a material effect on the Company’s consolidated financial statements. |
NOTE 5 - RELATED PARTY TRANSA_2
NOTE 5 - RELATED PARTY TRANSACTIONS: NOTE 5 - RELATED PARTY TRANSACTIONS (Policies) | 12 Months Ended |
Dec. 31, 2021 | |
NOTE 5 - RELATED PARTY TRANSACTIONS | NOTE 5 - RELATED PARTY TRANSACTIONS Notes Payable – Related Parties Total related party notes payable as of December 31, 2020 were $25,676. During the year ended December 31, 2021, the Company received $29,401 in additional cash loans. Executive Offices The Company's executive offices are located at 150 Research Dr., Hampton VA. These offices are leased by The Health Network, Inc. ("THN"), of which Ron Howell is President. THN allows the Company to use the office space without a formal sublease or rental agreement. Consulting Agreements The Company has entered into a consulting agreement with Mr. Howell, President of the Company, whereby the Company agreed to pay Mr. Howell $10,000 per month for consulting services through December 31, 2010. The Company had agreed to continue to engage Mr. Howell as a consultant until his consulting services are no longer required. The agreement was suspended from July, 2019 through December, 2019 due to the pendency of the APA, and has resumed beginning in January, 2020 due to the termination of the APA. During the years ended December 31, 2021 and 2020, the Company recognized $120,000 for consulting fees in each year for Ronald Howell. As of December 31, 2021 and 2020, the Company owed Mr. Howell $240,000 and $120,000 under the consulting agreement. On June 23, 2020, the Company agreed to issue an additional 1,000,000 shares of restricted common stock (which increased stock value by $1,000 and Additional Paid-In Capital by $59,000) to Mr. Howell in consideration for consulting services during the pendency of the APA, in lieu of the $60,000 in consulting fees that were suspended in 2019 due to the potential transaction. |
Notes Payable - Related Parties | |
NOTE 5 - RELATED PARTY TRANSACTIONS | Notes Payable – Related Parties Total related party notes payable as of December 31, 2020 were $25,676. During the year ended December 31, 2021, the Company received $29,401 in additional cash loans. |
Executive Offices | |
NOTE 5 - RELATED PARTY TRANSACTIONS | Executive Offices The Company's executive offices are located at 150 Research Dr., Hampton VA. These offices are leased by The Health Network, Inc. ("THN"), of which Ron Howell is President. THN allows the Company to use the office space without a formal sublease or rental agreement. |
Consulting Agreements | |
NOTE 5 - RELATED PARTY TRANSACTIONS | Consulting Agreements The Company has entered into a consulting agreement with Mr. Howell, President of the Company, whereby the Company agreed to pay Mr. Howell $10,000 per month for consulting services through December 31, 2010. The Company had agreed to continue to engage Mr. Howell as a consultant until his consulting services are no longer required. The agreement was suspended from July, 2019 through December, 2019 due to the pendency of the APA, and has resumed beginning in January, 2020 due to the termination of the APA. During the years ended December 31, 2021 and 2020, the Company recognized $120,000 for consulting fees in each year for Ronald Howell. As of December 31, 2021 and 2020, the Company owed Mr. Howell $240,000 and $120,000 under the consulting agreement. On June 23, 2020, the Company agreed to issue an additional 1,000,000 shares of restricted common stock (which increased stock value by $1,000 and Additional Paid-In Capital by $59,000) to Mr. Howell in consideration for consulting services during the pendency of the APA, in lieu of the $60,000 in consulting fees that were suspended in 2019 due to the potential transaction. |
NOTE 4 - ACCOUNTS PAYABLE AND_2
NOTE 4 - ACCOUNTS PAYABLE AND ACCURED EXPENSES - RELATED PARTIES: Schedule of Accounts Payable and Accrued Expenses - Related Parties (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Tables/Schedules | |
Schedule of Accounts Payable and Accrued Expenses - Related Parties | Accounts payable and accrued expenses - related parties consist of the following at December 31, 2021 and 2020: December 31, 2021 December 31, 2020 The Health Network, Inc. $ 2,275 $ 1,475 Ronald Howell 240,000 120,000 Total $ 242,275 $ 121,475 |
NOTE 7 - INCOME TAXES_ Schedule
NOTE 7 - INCOME TAXES: Schedule of Components of Income Tax Expense (Benefit) (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Tables/Schedules | |
Schedule of Components of Income Tax Expense (Benefit) | The cumulative tax effect at the expected rate of 21 percent of significant items comprising our net deferred tax amount is as follows: Year ended December 31, 2021 Year ended December 31, 2020 Income tax benefit attributable to: Net operating loss $ (31,156) $ (43,888) Change in valuation allowance 31,156 Net refundable amount $ - $ - |
NOTE 7 - INCOME TAXES_ Schedu_2
NOTE 7 - INCOME TAXES: Schedule of Deferred Tax Assets and Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Tables/Schedules | |
Schedule of Deferred Tax Assets and Liabilities | The cumulative tax effect at the expected rate of 21 percent (for 2021 & 2020) of significant items comprising our net deferred tax amount is as follows: December 31, 2021 December 31, 2020 Deferred tax asset attributable to: Net operating loss carry forwards $ (1,223,277) $ (1,192,121) Common stock issued for services 113,692 113,692 Valuation allowance 1,109,585 1,078,429 Net deferred tax asset $ - $ - |
Financial Statement Contents (D
Financial Statement Contents (Details) | 12 Months Ended |
Dec. 31, 2021 | |
Details | |
Auditor Firm ID | 76 |
Auditor Information (Details)
Auditor Information (Details) | 12 Months Ended |
Dec. 31, 2021 | |
Details | |
Auditor Name | Turner, Stone & Company, LLP |
Auditor Location | Dallas, Texas |
NOTE 4 - ACCOUNTS PAYABLE AND_3
NOTE 4 - ACCOUNTS PAYABLE AND ACCURED EXPENSES - RELATED PARTIES: Schedule of Accounts Payable and Accrued Expenses - Related Parties (Details) - USD ($) | Dec. 31, 2021 | Dec. 31, 2020 |
Accounts payable and accrued expenses - related parties | $ 242,275 | $ 121,475 |
The Health Network, Inc | ||
Accounts payable and accrued expenses - related parties | 2,275 | 1,475 |
President | ||
Accounts payable and accrued expenses - related parties | $ 240,000 | $ 120,000 |
NOTE 7 - INCOME TAXES_ Schedu_3
NOTE 7 - INCOME TAXES: Schedule of Components of Income Tax Expense (Benefit) (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Income tax benefit attributable to | ||
Net operating loss | $ (31,156) | $ (43,888) |
Change in valuation allowance | 31,156 | 43,888 |
Net refundable amount | $ 0 | $ 0 |
NOTE 7 - INCOME TAXES_ Schedu_4
NOTE 7 - INCOME TAXES: Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) | Dec. 31, 2021 | Dec. 31, 2020 |
Deferred tax asset attributable to | ||
Net operating loss carry forwards | $ (1,223,277) | $ (1,192,121) |
Common stock issued for services | 113,692 | 113,692 |
Valuation allowance | 1,109,585 | 1,078,429 |
Net deferred tax asset | $ 0 | $ 0 |