Cover
Cover - shares | 6 Months Ended | |
Jun. 30, 2024 | Aug. 14, 2024 | |
Cover [Abstract] | ||
Document Type | 10-Q/A | |
Amendment Flag | true | |
Amendment Description | The purpose of this amendment on Form 10-Q/A to Seafarer Exploration Corp's Quarterly Report on Form 10-Q for the period ended June 30, 2024, filed with the Securities and Exchange Commission on August 14, 2024 is solely to furnish the Inline eXtensible Business Reporting Language (iXBRL) data under Exhibit 101 and 104 to the Form 10-Q in accordance with Rule 405 of Regulation S-T and a couple immaterial typos were updated. No other changes have been made to the Form 10-Q. This Amendment No. 1 to the Form 10-Q speaks as of the original filing date of the Form 10-Q, does not reflect events that may have occurred subsequent to the original filing date, and does not modify or update in any way disclosures made in the original Form 10-Q. | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Document Period End Date | Jun. 30, 2024 | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2024 | |
Current Fiscal Year End Date | --12-31 | |
Entity File Number | 000-29461 | |
Entity Registrant Name | SEAFARER EXPLORATION CORP. | |
Entity Central Index Key | 0001106213 | |
Entity Tax Identification Number | 90-0473054 | |
Entity Incorporation, State or Country Code | FL | |
Entity Address, Address Line One | 14497 N. Dale Mabry Highway | |
Entity Address, Address Line Two | Suite 209-N | |
Entity Address, City or Town | Tampa | |
Entity Address, State or Province | FL | |
Entity Address, Postal Zip Code | 33618 | |
City Area Code | (813) | |
Local Phone Number | 448-3577 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 8,623,074,737 |
CONDENSED CONSOLIDATED BALANCE
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) | Jun. 30, 2024 | Dec. 31, 2023 |
Current assets | ||
Cash | $ 473,676 | $ 606,267 |
Prepaid consulting expense | 89,748 | 18,935 |
Deposits and other prepaids | 25,749 | 15,791 |
Total current assets | 589,173 | 640,993 |
Property, plant and equipment, net | 223,902 | 248,922 |
Right of use asset | 21,234 | 30,290 |
Total Assets | 834,309 | 920,205 |
Current liabilities | ||
Accounts payable and accrued expenses | 588,981 | 565,009 |
Deferred revenue | 140,000 | 140,000 |
Convertible notes payable, net of discount of $138,458 and $0, respectively | 116,372 | |
Convertible notes payable, in default | 235,300 | 355,300 |
Convertible notes payable, in default - related parties | 689,500 | 789,500 |
Notes payable, net of discount of $67,708 and $0, respectively | 959,798 | 404,786 |
Notes payable, in default | 112,000 | 112,000 |
Notes payable, in default - related parties | 18,500 | 18,500 |
Shareholder loan | 5,000 | 5,000 |
Operating lease liability, current | 19,856 | 18,483 |
Finance lease liability, current | 25,149 | 22,263 |
Total current liabilities | 2,910,456 | 2,430,841 |
Operating lease liability, long-term | 1,753 | 11,974 |
Finance lease liability, long-term | 85,189 | 99,917 |
Total Liabilities | 2,997,398 | 2,542,732 |
Stockholders’ Deficit | ||
Series B - 60 shares issued and outstanding at June 30, 2024 and December 31, 2023 | ||
Common stock, $0.0001 par value - 9,900,000,000 shares authorized; 8,621,591,403 and 8,314,141,446 shares issued and outstanding | 862,160 | 831,415 |
Common stock to be issued, $0.0001 par value, 39,039,877 and 31,039,877 shares outstanding at June 30, 2024 and December 31, 2023, respectively | 3,904 | 3,104 |
Unearned compensation | ||
Additional paid in capital | 27,610,973 | 25,890,412 |
Accumulated deficit | (30,640,126) | (28,347,458) |
Total Stockholders’ Deficit | (2,163,089) | (1,622,527) |
Total Liabilities and Stockholders’ Deficit | 834,309 | 920,205 |
Series A Preferred Stock [Member] | ||
Stockholders’ Deficit | ||
Series B - 60 shares issued and outstanding at June 30, 2024 and December 31, 2023 |
CONDENSED CONSOLIDATED BALANC_2
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares | Jun. 30, 2024 | Dec. 31, 2023 |
Preferred Stock, Par or Stated Value Per Share | $ 0.0001 | $ 0.0001 |
Preferred Stock, Shares Authorized | 50,000,000 | 50,000,000 |
Preferred Stock, Shares Issued | 67 | 67 |
Common Stock, Par or Stated Value Per Share | $ 0.0001 | $ 0.0001 |
Common Stock, Shares Authorized | 9,900,000,000 | 9,900,000,000 |
Common Stock, Shares, Issued | 8,621,591,403 | 8,314,141,446 |
Common Stock, Shares, Outstanding | 8,621,591,403 | 8,314,141,446 |
Common Stock to Be Issued [Member] | ||
Common Stock, Par or Stated Value Per Share | $ 0.0001 | $ 0.0001 |
Common Stock, Shares Subscribed but Unissued | 39,039,877 | 31,039,877 |
Series A Preferred Stock [Member] | ||
Preferred Stock, Shares Issued | 7 | 7 |
Preferred Stock, Shares Outstanding | 7 | 7 |
Series B Preferred Stock [Member] | ||
Preferred Stock, Shares Issued | 60 | 60 |
Preferred Stock, Shares Outstanding | 60 | 60 |
CONDENSED CONSOLIDATED STATEMEN
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Revenue: | ||||
Service income | $ 590 | $ 3,170 | $ 590 | |
Operating Expenses | ||||
Consulting and contractor expenses | 453,521 | 355,452 | 1,019,678 | 874,938 |
Vessel maintenance and dockage | 19,269 | 35,696 | 138,817 | 230,515 |
Research and development | 157,055 | 73,834 | 288,983 | 105,934 |
Professional fees | 21,000 | 38,146 | 111,478 | 66,202 |
General and administrative expense | 106,671 | 24,812 | 222,060 | 178,191 |
Depreciation and amortization expense | 12,510 | 12,221 | 25,020 | 23,809 |
Rent expense | 17,643 | 10,418 | 27,031 | 24,187 |
Travel and entertainment expense | 35,439 | 25,282 | 91,377 | 46,466 |
Total operating expenses | 823,108 | 575,861 | 1,924,444 | 1,550,242 |
Net loss from operations | (823,108) | (575,271) | (1,921,274) | (1,549,652) |
Other income (expense) | ||||
Interest expense | (123,070) | (17,261) | (182,569) | (34,250) |
Loss on extinguishment of debt | (34,420) | (21,599) | (188,825) | (21,599) |
Total other income (expense) | (157,490) | (38,860) | (371,394) | (55,849) |
Net loss | $ (980,598) | $ (614,131) | $ (2,292,668) | $ (1,605,501) |
Basic and diluted loss per share | $ 0 | $ 0 | $ 0 | $ 0 |
Weighted average shares outstanding | 8,536,199,408 | 7,526,460,781 | 8,487,703,587 | 7,456,023,988 |
CONDENSED CONSOLIDATED STATEM_2
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' DEFICIT (Unaudited) - USD ($) | Preferred Stock [Member] Series A Preferred Stock [Member] | Preferred Stock [Member] Series B Preferred Stock [Member] | Common Stock [Member] | Common Stock to Be Issued [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Beginning balance, value at Dec. 31, 2022 | $ 717,268 | $ 7,197 | $ 22,947,138 | $ (25,166,812) | $ (1,495,209) | ||
Shares, Outstanding, Beginning Balance at Dec. 31, 2022 | 7 | 60 | 7,172,668,896 | 71,969,820 | |||
Common stock issued for cash | $ 22,885 | $ (4,008) | 507,123 | 526,000 | |||
Common stock issued for cash, Shares | 228,859,347 | (40,083,333) | |||||
Stock issued for services | $ 9,720 | $ (301) | 645,352 | 654,771 | |||
Stock issued for services, Shares | 97,201,415 | (3,015,276) | |||||
Net Loss | (991,370) | (991,370) | |||||
Stock issued as charitable donation | $ 100 | 7,100 | 7,200 | ||||
Stock issued as charitable donation, Shares | 1,000,000 | ||||||
Ending balance, value at Mar. 31, 2023 | $ 749,973 | $ 2,888 | 24,106,713 | (26,158,182) | (1,298,608) | ||
Ending Balance, Shares at Mar. 31, 2023 | 7 | 60 | 7,499,729,658 | 28,871,211 | |||
Beginning balance, value at Dec. 31, 2022 | $ 717,268 | $ 7,197 | 22,947,138 | (25,166,812) | (1,495,209) | ||
Shares, Outstanding, Beginning Balance at Dec. 31, 2022 | 7 | 60 | 7,172,668,896 | 71,969,820 | |||
Stock issued for services | (402,221) | ||||||
Conversion of accrued interest | |||||||
Net Loss | (1,605,501) | ||||||
Equity kicker | |||||||
Ending balance, value at Jun. 30, 2023 | $ 765,251 | $ 10,805 | 24,579,334 | (26,772,313) | (1,416,923) | ||
Ending Balance, Shares at Jun. 30, 2023 | 7 | 60 | 7,652,499,812 | 108,047,498 | |||
Beginning balance, value at Mar. 31, 2023 | $ 749,973 | $ 2,888 | 24,106,713 | (26,158,182) | (1,298,608) | ||
Shares, Outstanding, Beginning Balance at Mar. 31, 2023 | 7 | 60 | 7,499,729,658 | 28,871,211 | |||
Common stock issued for cash | $ 12,882 | $ 7,583 | 378,885 | 399,350 | |||
Common stock issued for cash, Shares | 128,816,667 | 75,833,333 | |||||
Stock issued for loan origination fee | $ 100 | 3,700 | 3,800 | ||||
Stock issued for loan origination fee, Shares | 1,000,000 | ||||||
Stock issued for services | $ 417 | $ 334 | 27,499 | 28,250 | |||
Stock issued for services, Shares | 4,166,700 | 3,342,954 | |||||
Stock issued to settle accounts payable | $ 677 | 22,902 | 23,579 | ||||
Stock issued to settle accounts payable, Shares | 6,776,250 | ||||||
Net Loss | (614,131) | (614,131) | |||||
Stock issued to accrued interest | $ 1,202 | 39,635 | 40,837 | ||||
Stock issued to accrued interest, Shares | 12,010,537 | ||||||
Ending balance, value at Jun. 30, 2023 | $ 765,251 | $ 10,805 | 24,579,334 | (26,772,313) | (1,416,923) | ||
Ending Balance, Shares at Jun. 30, 2023 | 7 | 60 | 7,652,499,812 | 108,047,498 | |||
Beginning balance, value at Dec. 31, 2023 | $ 831,415 | $ 3,104 | 25,890,412 | (28,347,458) | (1,622,527) | ||
Shares, Outstanding, Beginning Balance at Dec. 31, 2023 | 7 | 60 | 8,314,141,446 | 31,039,877 | |||
Common stock issued for cash | $ 5,283 | $ 1,067 | 312,150 | 318,500 | |||
Common stock issued for cash, Shares | 52,833,334 | 10,666,667 | |||||
Stock issued for loan origination fee | $ 450 | $ (200) | 45,580 | 45,830 | |||
Stock issued for loan origination fee, Shares | 4,500,000 | (2,000,000) | |||||
Stock issued for services | $ 6,358 | 331,667 | 338,025 | ||||
Stock issued for services, Shares | 63,583,333 | ||||||
Stock issued to settle accounts payable | $ 548 | 32,595 | 33,143 | ||||
Stock issued to settle accounts payable, Shares | 5,476,191 | ||||||
Stock issued in exchange for leasing a vessel | $ 300 | 29,700 | 30,000 | ||||
Stock issued in exchange for leasing a vessel, Shares | 3,000,000 | ||||||
Conversion of accrued interest | $ 6,110 | 268,860 | 274,970 | ||||
Conversion of and accrued interest, Shares | 61,104,658 | ||||||
Cancellation of shares | $ (1,080) | 1,080 | |||||
Cancellation of shares, Shares | (10,800,564) | ||||||
Net Loss | (1,312,070) | (1,312,070) | |||||
Ending balance, value at Mar. 31, 2024 | $ 849,384 | $ 3,971 | 26,912,044 | (29,659,528) | (1,894,129) | ||
Ending Balance, Shares at Mar. 31, 2024 | 7 | 60 | 8,493,838,398 | 39,706,544 | |||
Beginning balance, value at Dec. 31, 2023 | $ 831,415 | $ 3,104 | 25,890,412 | (28,347,458) | (1,622,527) | ||
Shares, Outstanding, Beginning Balance at Dec. 31, 2023 | 7 | 60 | 8,314,141,446 | 31,039,877 | |||
Stock issued for services | (326,254) | ||||||
Conversion of accrued interest | 319,774 | ||||||
Net Loss | (2,292,668) | ||||||
Equity kicker | 48,134 | ||||||
Ending balance, value at Jun. 30, 2024 | $ 862,160 | $ 3,904 | 27,610,973 | (30,640,126) | (2,163,089) | ||
Ending Balance, Shares at Jun. 30, 2024 | 7 | 60 | 8,621,591,403 | 39,039,877 | |||
Beginning balance, value at Mar. 31, 2024 | $ 849,384 | $ 3,971 | 26,912,044 | (29,659,528) | (1,894,129) | ||
Shares, Outstanding, Beginning Balance at Mar. 31, 2024 | 7 | 60 | 8,493,838,398 | 39,706,544 | |||
Common stock issued for cash | $ 11,686 | $ (67) | 592,131 | 603,750 | |||
Common stock issued for cash, Shares | 116,855,556 | (666,667) | |||||
Stock issued for services | $ 50 | 10,300 | 10,350 | ||||
Stock issued for services, Shares | 500,000 | ||||||
Stock issued to settle accounts payable | $ 24 | 3,496 | 3,520 | ||||
Stock issued to settle accounts payable, Shares | 239,380 | ||||||
Conversion of accrued interest | $ 509 | 45,375 | 45,884 | ||||
Conversion of and accrued interest, Shares | 5,091,402 | ||||||
Net Loss | (980,598) | (980,598) | |||||
Equity kicker | $ 507 | 47,627 | 48,134 | ||||
Equity Kicker, Shares | 5,066,667 | ||||||
Ending balance, value at Jun. 30, 2024 | $ 862,160 | $ 3,904 | $ 27,610,973 | $ (30,640,126) | $ (2,163,089) | ||
Ending Balance, Shares at Jun. 30, 2024 | 7 | 60 | 8,621,591,403 | 39,039,877 |
CONDENSED CONSOLIDATED STATEM_3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) | 6 Months Ended | |
Jun. 30, 2024 | Jun. 30, 2023 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net Loss | $ (2,292,668) | $ (1,605,501) |
Adjustments to reconcile net loss to net cash used by operating activities: | ||
Depreciation and Amortization | 25,020 | 10,930 |
Amortization of right of use asset, facilities | 9,055 | 12,879 |
Amortization of beneficial conversion feature and loan fees | 67,214 | |
Amortization of unearned compensation | 124,348 | |
Common stock issued for services | 326,254 | 402,221 |
Common stock issued for a charitable contribution | 7,200 | |
Financing fees on debt | 3,800 | |
Common stock issued in payment of a vessel rental | 30,000 | |
Common stock issued as equity kicker | 48,134 | |
Loss on extinguishment of debt | 188,825 | |
Decrease (increase) in: | ||
Deposits and other prepaids | (9,958) | |
Increase (decrease) in: | ||
Accounts payable & accrued expenses | 23,972 | 7,438 |
Operating lease liability | (8,848) | |
Finance lease liability | (11,842) | |
Net cash used by operating activities | (1,604,842) | (1,036,685) |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Purchase of property, plant and equipment | (2,000) | |
Net cash used in investing activities | (2,000) | |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Proceeds from the issuance of common stock | 922,250 | 925,350 |
Proceeds from the issuance of convertible notes payable | 150,000 | |
Proceeds from the issuance of notes payable | 500,000 | |
Payments on notes payable, in default | (100,000) | |
Payments on notes payable | (5,000) | |
Payments to shareholders | (2,400) | |
Net cash used in financing activities | 1,472,250 | 917,950 |
NET CHANGE IN CASH | (132,591) | (120,735) |
CASH, BEGINNING OF PERIOD | 606,267 | 177,409 |
CASH, END OF PERIOD | 473,676 | 56,674 |
Supplemental disclosure of cash flow information | ||
Cash paid for interest expense | ||
Cash paid for income taxes | ||
Non-cash operating and financing activities: | ||
Principal and accrued interest converted to common stock | 319,774 | |
Financing lease liabilities and right of use asset | $ 141,451 |
DESCRIPTION OF BUSINESS
DESCRIPTION OF BUSINESS | 6 Months Ended |
Jun. 30, 2024 | |
Accounting Policies [Abstract] | |
DESCRIPTION OF BUSINESS | NOTE 1 – DESCRIPTION OF BUSINESS Seafarer Exploration Corp. (Seafarer or the Company), was incorporated on May 28, 2003 in the State of Delaware. The principal business of the Company is to engage in the archaeologically-sensitive exploration, documentation, recovery, and conservation of historic shipwrecks with the objective of exploring and discovering Colonial-era shipwrecks for future generations to be able to appreciate and understand. In March of 2014, Seafarer entered into a partnership with Marine Archaeology Partners, LLC (MAP), with the formation of Seafarers Quest, LLC (SQ) for the purpose of exploring a shipwreck site off of Melbourne Beach, Florida. Under the partnership with MAP, Seafarer is the designated manager of SQ. The Companys wholly owned subsidiary Blockchain LogisTech, LLC (Blockchain), was formed on April 4, 2018 and began operations in 2019. The Company is evaluating Blockchains business opportunities and does not believe that Blockchain will generate any revenues for the foreseeable future. The Company formed a wholly owned subsidiary, Exploration Studios, LLC, in May 2018 in order to explore media strategies and opportunities. Exploration Studios, LLC has not yet commenced operations. Florida Division of Historical Resources Agreements/Permits The Company successfully renewed its permits for both Areas 1 and 2 for the Melbourne Beach site. The Area 1 permit was renewed on March 1, 2019 for a period of three years. The Area 2 permit was renewed on January 14, 2019 for a period of three years. Per Florida Statutes, Seafarer made a timely request for renewal of the 2019 permit for Area 2 on July 29, 2022. In January of 2022, Seafarer received notification from the Florida Division of Historical Resources (FDHR) that its permit for Area 2, which was set to expire on January 19, 2022, has been continued indefinitely while the renewal request was being processed. The existing permits will continue until the renewal is finalized or rejected. Per Florida Statutes, Seafarer made a timely request for renewal of the 2019 permit for Area 1 on July 29, 2021. On March 2, 2022, Seafarer received notification that the permit would continue indefinitely with the same terms as Area 2. Federal Admiralty Judgment Seafarer was granted, through the United States District Court for the Southern District of Florida, a final judgment for its federal admiralty claim on the Juno Beach shipwreck site. The Company received an updated permit from the United State Army Corp of Engineers (USACE). Blockchain Software Services Referral Agreements Management is reviewing potential alternate plans for Blockchain and believes that it is highly unlikely that Blockchain will generate any revenues for the foreseeable future, if ever. |
GOING CONCERN
GOING CONCERN | 6 Months Ended |
Jun. 30, 2024 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
GOING CONCERN | NOTE 2 – GOING CONCERN These unaudited condensed consolidated financial statements have been prepared on a going concern basis, which assumes the Company will be able to realize its assets and discharge its liabilities in the normal course of business for the foreseeable future. The Company has incurred net losses since inception and has an accumulated deficit of $ 30,640,126 2,292,668 2,321,283 Failure to raise adequate capital and generate adequate revenues could result in the Company having to curtail or cease operations. The Companys ability to raise additional capital through the future issuances of the common stock is unknown. Additionally, even if the Company does raise sufficient capital to support its operating expenses and generate adequate revenues, there can be no assurances that the revenue will be sufficient to enable it to develop to a level where it will generate profits and cash flows from operations. These matters raise substantial doubt about the Companys ability to continue as a going concern; however, the accompanying unaudited condensed consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business. These unaudited condensed consolidated financial statements do not include any adjustments relating to the recovery of the recorded assets or the classifications of the liabilities that might be necessary should the Company be unable to continue as a going concern. Reclassification Certain minor reclassifications have been made to the comparative financial statements to conform to the classifications used in the current period. Convertible Notes Payable and Notes Payable, in Default The Company does not have additional sources of debt financing to refinance its convertible notes payable and notes payable that are currently in default. If the Company is unable to obtain additional capital, such lenders may file suit, including suit to foreclose on the assets held as collateral for the obligations arising under the secured notes. If any of the lenders file suit to foreclose on the assets held as collateral, then the Company may be forced to significantly scale back or cease its operations which would more than likely result in a complete loss of all capital that has been invested in or borrowed by the Company. The fact that the Company is in default regarding several loans held by various lenders makes investing in the Company or providing any loans to the Company extremely risky with a very high potential for a complete loss of capital. The convertible notes that have been issued by the Company are convertible at the lenders option. These convertible notes represent significant potential dilution to the Companys current shareholders as the convertible price of these notes is generally lower than the current market price of the Companys shares. As such when these notes are converted into equity there is typically a highly dilutive effect on current shareholders and very high probability that such dilution may significantly negatively affect the trading price of the Companys common stock. Furthermore, management intends to have discussions with several of the promissory note holders who do not currently have convertible notes regarding converting their notes into equity. Any such amended agreements to convert promissory notes into equity would more than likely have a highly dilutive effect on current shareholders and there is a very high probability that such dilution may significantly negatively affect the trading price of the Companys common stock. See Note 5 – Convertible notes payable – in default, Convertible notes payable – related parties, in default, Notes payable – in default, Notes payable – related parties, in default, for further information regarding the Companys convertible notes payable and notes payable that are currently in default due to non payment of principal and interest. Current Economic Conditions The Company and certain of its advisors are closely monitoring current domestic economic conditions. Of particular concern is the rate of inflation that has been reported as being near a forty year high and had recently increased nearly 7% on a year-over-year basis from 2021 to 2022 and the rising cost of fuel. The Federal Reserve (the Fed) recently discussed that while inflation growth has moderated in 2024, inflation was still above the Feds target of 2% per year. The increasing inflation in the overall economy may lead to higher interest rates which may make it more expensive or potentially more challenging for the Company to access financing. Additionally, the Companys vessels use large amounts of fuel when in operation and the recent rise in the per gallon cost of gasoline will cause an increase in the Companys operating expenses. The increase in the cost of fuel may hamper the Companys ability to conduct operations. |
SUMMARY OF SIGNIFICANT ACCOUNTI
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 6 Months Ended |
Jun. 30, 2024 | |
Accounting Policies [Abstract] | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES This summary of significant accounting policies of Seafarer Exploration Corp. is presented to assist in understanding the Companys unaudited condensed consolidated financial statements. The unaudited condensed consolidated financial statements and notes are representations of the Companys management, who are responsible for their integrity and objectivity. These accounting policies conform to GAAP and have been consistently applied in the preparation of the unaudited condensed consolidated financial statements. Principles of Consolidation The unaudited condensed consolidated financial statements of the Company include the accounts of the Company and Blockchain which is a wholly owned subsidiary. Intercompany accounts and transactions have been eliminated in consolidation. Reclassifications Certain reclassifications were made to the prior consolidated financial statements to conform to the current period presentation. There was no change to the previously reported net loss. Cash and Cash Equivalents For purposes of the unaudited condensed consolidated statements of cash flows, the Company considers all highly liquid investments and short-term debt instruments with original maturities of three months or less to be cash equivalents. There were no cash equivalents at June 30, 2024 and December 31, 2023. Financial instruments that potentially subject the Company to concentration of credit risk consist principally of cash deposits. Accounts at each institution are insured by the Federal Deposit Insurance Corporation (FDIC) up to $ 250,000 223,676 Research and Development Expenses Expenditures for research and development are expensed as incurred. The Company incurred research and development expenses of $ 288,983 105,934 157,055 73,834 Revenue Recognition The Company recognizes revenue in accordance with the Financial Accounting Standards Boards (FASB) Accounting Standards Codification (ASC) Topic 606, Revenue from Contracts with Customers The core principle of ASC 606 requires that an entity recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those goods or services. ASC 606 defines a five-step process to achieve this core principle and, in doing so, it is possible more judgment and estimates may be required within the revenue recognition process than required under GAAP, including identifying performance obligations in the contract, estimating the amount of variable consideration to include in the transaction price and allocating the transaction price to each separate performance obligation. The Company recognizes revenue from the referrals that Blockchain has made to providers of software services when payment for a referral is received from the provider of software services. Blockchain, at its sole discretion and with no specific sales quotas or targets, provides referrals of potential end users to the software service providers and is paid a referral fee only after the software services providers receive payment from the end user. The Company also has a separate sales referral agreement, with no sales quotas or specific goals or targets, with a limited liability company that provides product/system engineering and development services. The Companys performance obligation is met when the payment from the customer is received by the provider of the development services, which is at a point in time. The Company receives referral fees when payment is received from the provider of the product/system development services which is when the Company recognizes revenue under the agreement. The Company recognizes revenue when cash is received or when it has met its obligations per the terms of a contract or agreement for services. Payments received for services are recorded as deferred revenue and are recognized as revenue when the services have been provided. During 2021 the Company entered into an agreement to provide scanning services using its SeaSearcher technology to a corporation involved in searching for historic shipwreck material. Under the terms of the agreement the Company received an upfront payment of $140,000 which has been included in the accompanying unaudited condensed consolidated balance sheets at June 30, 2024 and December 31, 2023 as deferred revenue as the services have not yet been provided. Earnings Per Share The Company has adopted the FASB ASC 260-10, Earnings per Share The potentially dilutive common stock equivalents for the six month periods ended June 30, 2024 and 2023 were excluded from the dilutive loss per share calculation as they would be antidilutive due to the net loss. As of June 30, 2024 and 2023, there were approximately 606,961,668 673,692,795 Fair Value of Financial Instruments The carrying amounts of financial assets and liabilities, such as cash, accounts payable, accrued expenses, convertible notes payable and payables, approximate their fair values because of the short maturity of these instruments. Property, Plant and Equipment Property, plant and equipment are recorded at historical cost. Depreciation is computed on the straight-line method over the estimated useful lives of the respective assets. Depreciation expense was $ 10,930 5,465 Impairment of Long-Lived Assets In accordance with ASC 360-10, Impairment and Disposal of Long Lived Asset Use of Estimates The process of preparing condensed consolidated financial statements in conformity with GAAP requires the use of estimates and assumptions regarding certain types of assets, liabilities, revenues, and expenses. Significant estimates for the six month periods ended June 30, 2024 and 2023 include useful life of property, plant and equipment, valuation allowances against deferred tax assets and the fair value of non cash equity transactions. Segment Information During 2019, Seafarers wholly owned subsidiary, Blockchain, began operations, generated revenue and incurred expenses. The business of Blockchain has no relation to the Companys shipwreck exploration and recovery operations other than common ownership. As such, the Company concluded that the operations of Blockchain and Seafarer Exploration were separate reportable segments as of the six month periods ended June 30, 2024 and 2023 (see Note 9– Segment Information). Convertible Debentures The Company adheres to the guidance in Accounting Standards Updated (ASU) 2020-06, Accounting for Convertible Instruments and Contracts in an Entitys Own Equity Fair Value Measurements and Fair Value of Financial Instruments The Company adopted ASC Topic 820, Fair Value Measurements Level 1: Inputs are unadjusted quoted prices in active markets for identical assets or liabilities available at the measurement date. Level 2: Inputs are unadjusted quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, inputs other than quoted prices that are observable, and inputs derived from or corroborated by observable market data. Level 3: Inputs are unobservable inputs which reflect the reporting entitys own assumptions on what assumptions the market participants would use in pricing the asset or liability based on the best available information. The estimated fair value of certain financial instruments, including all current liabilities are carried at historical cost basis, which approximates their fair values because of the short-term nature of these instruments. The inputs to the valuation methodology of stock options and warrants were under level 3 fair value measurements. ASC subtopic 825-10, Financial Instruments The Company follows ASC subtopic 820-10, Fair Value Measurements and Disclosures Stock Based Compensation The Company applies the fair value method of FASB ASC 718, Share Based Payment Fully vested and non-forfeitable shares issued prior to the services being performed are classified as prepaid expenses. Leases The Company accounts for leases under ASU 2016-02. At the inception of a contract the Company assesses whether the contract is, or contains, a lease. The Companys assessment is based on: (1) whether the contract involves the use of a distinct identified asset, (2) whether the Company obtains the right to substantially all the economic benefit from the use of the asset throughout the period, and (3) whether it has the right to direct the use of the asset. The Company will allocate the consideration in the contract to each lease component based on its relative stand-alone price to determine the lease payments. Operating lease right of use (ROU) assets represents the right to use the leased asset for the lease term and operating lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at commencement date. As most leases do not provide an implicit rate, the Company uses an incremental borrowing rate based on the information available at the adoption date in determining the present value of future payments. Lease expense for minimum lease payments is amortized on a straight-line basis over the lease term and is presented in operating expenses on the unaudited condensed consolidated statements of operations. Finance leases are recorded as a finance lease liability and property, plant and equipment asset, based on the present value of lease payments. The asset is depreciated, and the liability is amortized with interest expense incurred over the life of the lease. As permitted under the new guidance, the Company has made an accounting policy election not to apply the recognition provisions of the guidance to short term leases (leases with a lease term of twelve months or less that do not include an option to purchase the underlying asset that the lessee is reasonably certain to exercise); instead, the Company will recognize the lease payments for short term leases on a straight-line basis over the lease term. Income Taxes Income taxes are computed using the asset and liability method. Under the asset and liability method, deferred income tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities and are measured using the currently enacted tax rates and laws. A valuation allowance is provided for the amount of deferred tax assets that, based on available evidence, are not expected to be realized. Subsequent Events It is the Companys policy to evaluate all events that occur after the balance sheet date through the date when the condensed consolidated financial statements were issued to determine if they must be reported. Recent Accounting Pronouncements All other recent accounting pronouncements issued by the FASB, including ASU 2023-07 and 2023-09, did not or are not believed by management to have a material impact on the Companys present or future condensed consolidated financial statements. |
RIGHT-OF-USE ASSETS AND OPERATI
RIGHT-OF-USE ASSETS AND OPERATING AND FINANCE LEASE LIABILITIES | 6 Months Ended |
Jun. 30, 2024 | |
Leases [Abstract] | |
RIGHT-OF-USE ASSETS AND OPERATING AND FINANCE LEASE LIABILITIES | NOTE 4 – RIGHT-OF-USE ASSETS AND OPERATING AND FINANCE LEASE LIABILITIES Operating Leases Operating lease right-of-use assets and liabilities are recognized at the present value of the future lease payments at the lease commencement date. The interest rate used to determine the present value is the incremental borrowing rate, estimated to be 10%, as the interest rate implicit in most of the Companys leases are not readily determinable. Operating lease expense is recognized on a straight-line basis over the lease term. The Company leases 823 square feet of office space located at 14497 North Dale Mabry Highway, Suite 209-N, Tampa, Florida 33618. The Company entered into an amended lease agreement commencing on July 1, 2020 through July 31, 2023 with base month rents of $ 1,475 1,519 1,564 1,611 1,612 1,676 5,154 4,601 On August 1, 2023, upon renewal of the lease, the Company recorded a right-of-use asset and lease liability of $37,502. Right-of-use assets at June 30, 2024 and December 31, 2023 are summarized below: Schedule of right-of- use assets June 30, 2024 December 31, 2023 Office lease $ 37,502 $ 37,502 Less accumulated amortization (16,268 ) (7,212 ) Right of use assets, net $ 21,234 $ 30,290 Amortization on the right -of -use asset is included in rent expense on the unaudited condensed consolidated statements of operations. Operating Lease liabilities are summarized below: Schedule of operating lease liabilities June 30, 2024 December 31, 2023 Office lease $ 21,609 $ 30,457 Less: current portion (19,856 ) (18,483 ) Long term portion $ 1,753 $ 11,974 Maturity of lease liabilities are as follows: Schedule of Maturity of lease liabilities Year ended December 31, 2024 $ 10,442 Year ended December 31, 2025 12,262 Total future minimum lease payments 22,704 Less: Present value discount (1,095 ) Lease liability $ 21,609 Finance Leases Commencing during the year ended December 31, 2023, the Company entered into the following leases: o Vehicle lease - monthly lease payments of $1,167 for 60 months amortized over 5 years at 12% o Vessel lease - monthly lease payments of $1,557 for 60 months amortized over 5 years at 12% o Sonar lease - monthly lease payments of $422 for 60 months amortized over 5 years at 12% Finance right of use assets are summarized below: As of As of June 30, December 31, 2024 2023 Vehicle lease $ 53,100 $ 53,100 Vessel lease 70,849 70,849 Sonar lease 18,987 18,987 Finance right of use asset before Accumulated Amortization 142,936 142,936 Less accumulated amortization (41,005 ) (26,915 ) Finance right of use asset $ 101,931 $ 116,021 Finance lease liabilities are summarized below: Schedule of Finance Lease Liabilities As of As of June 30, December 31, 2024 2023 Vehicle lease $ 40,625 $ 45,034 Vessel lease 54,202 60,085 Sonar lease 15,511 17,061 Total Lease Liabilities 110,338 122,180 Less: current portion (25,149 ) (22,263 ) Long term portion $ 85,189 $ 99,917 Maturity of lease liabilities are as follows: Schedule of Future minimum lease payments Year Ended December 31, 2024 $ 18,879 Year Ended December 31, 2025 37,758 Year Ended December 31, 2026 37,758 Year Ended December 31, 2027 37,758 Thereafter 4,413 Total future minimum lease payments 136,566 Less imputed interest (26,228 ) PV of payments $ 110,338 Expenses incurred with respect to the Companys finance leases during the three and six months ended June 30, 2024 and 2023 which are included in rent expense on the unaudited condensed consolidated statements of operations are set forth below. Schedule of Expenses with respect to Finance Leases Three Months Ended June 30, June 30, 2024 2023 Finance lease amortization $ 7,045 $ 6,729 Finance lease interest 3,431 3,973 Total finance lease expense $ 10,476 $ 10,702 Six Months Ended June 30, June 30, 2024 2023 Finance lease amortization $ 14,091 $ 11,559 Finance lease interest 7,038 7,589 Total finance lease expense $ 21,129 $ 19,148 The weighted average remaining lease term and the weighted average discount rate on the finance leases at June 30, 2024 and December 31, 2023 are set forth below. Schedule of Weighted Average Remaining Lease Team and Average Discount on Finance Leases June 30, December 31, 2024 2023 Weighted average remaining lease term 3.67 years 4.17 years Weighted average discount rate 12% 12% |
CONVERTIBLE NOTES PAYABLE AND N
CONVERTIBLE NOTES PAYABLE AND NOTES PAYABLE | 6 Months Ended |
Jun. 30, 2024 | |
Convertible Notes Payable And Notes Payable | |
CONVERTIBLE NOTES PAYABLE AND NOTES PAYABLE | NOTE 5 – CONVERTIBLE NOTES PAYABLE AND NOTES PAYABLE Upon inception, the Company evaluates each financial instrument to determine whether it meets the definition of conventional convertible debt under ASC 470. Convertible Notes Payable The following tables reflect the convertible notes payable at June 30, 2024 and December 31, 2023: Schedule of Convertible Notes Payable Issue Date Maturity June 30, December 31, Rate Conversion Principal Principal Convertible notes payable Notes payable, Face Value 03/18/24 03/18/25 $ 50,000 $ - 6.00% Variable Notes payable, Face Value 03/28/24 03/28/25 100,000 - 6.00% Variable Total 150,000 - Less unamortized discounts 33,628 - Balance convertible notes payable $ 116,372 $ - Issue Date Maturity June 30, December 31, Rate Conversion Principal Principal Convertible notes payable - in default Notes payable, Face Value 08/28/09 11/01/09 $ 4,300 $ 4,300 10.00 % 0.0150 Notes payable, Face Value 11/20/12 05/20/13 50,000 50,000 6.00 % 0.0050 Notes payable, Face Value 01/19/13 07/30/13 5,000 5,000 6.00 % 0.0040 Notes payable, Face Value 02/11/13 08/11/13 9,000 9,000 6.00 % 0.0060 Notes payable, Face Value 09/25/13 03/25/14 10,000 10,000 6.00 % 0.0125 Notes payable, Face Value 10/04/13 04/04/14 50,000 50,000 6.00 % 0.0125 Notes payable, Face Value 05/15/14 11/15/14 40,000 40,000 6.00 % 0.0070 Notes payable, Face Value 09/18/15 03/18/16 25,000 25,000 6.00 % 0.0020 Notes payable, Face Value 07/19/16 07/19/17 4,000 4,000 6.00 % 0.0015 Notes payable, Face Value 02/06/18 11/07/18 6,000 6,000 6.00 % 0.0006 Notes payable, Face Value 03/06/18 09/06/18 6,000 6,000 6.00 % 0.0006 Notes payable, Face Value 01/03/19 07/03/19 1,000 1,000 6.00 % 0.0010 Notes payable, Face Value 09/04/19 03/04/20 25,000 25,000 6.00 % 0.0030 Notes payable, Face Value 09/18/23 10/18/23 - 120,000 6.00 % 0.0020 Balance convertible notes payable - in default $ 235,300 $ 355,300 Issue Date Maturity June 30, December 31, Rate Conversion Principal Principal Convertible notes payable - related parties, in default Notes payable, Face Value 01/09/09 01/09/10 $ 10,000 $ 10,000 10.00 % 0.0150 Notes payable, Face Value 01/25/10 01/25/11 6,000 6,000 6.00 % 0.0050 Notes payable, Face Value 01/18/12 07/18/12 50,000 50,000 8.00 % 0.0040 Notes payable, Face Value 01/19/13 07/30/13 15,000 15,000 6.00 % 0.0040 Notes payable, Face Value 07/26/13 01/26/14 10,000 10,000 6.00 % 0.0100 Notes payable, Face Value 01/17/14 07/17/14 31,500 31,500 6.00 % 0.0060 Notes payable, Face Value 05/27/14 11/27/14 7,000 7,000 6.00 % 0.0070 Notes payable, Face Value 07/21/14 01/25/15 17,000 17,000 6.00 % 0.0080 Notes payable, Face Value 10/16/14 04/16/15 21,000 21,000 6.00 % 0.0045 Notes payable, Face Value 07/14/15 01/14/16 9,000 9,000 6.00 % 0.0030 Notes payable, Face Value 01/12/16 07/12/16 5,000 5,000 6.00 % 0.0020 Notes payable, Face Value 05/10/16 11/10/16 5,000 5,000 6.00 % 0.0005 Notes payable, Face Value 05/10/16 11/10/16 5,000 5,000 6.00 % 0.0005 Notes payable, Face Value 05/20/16 11/20/16 5,000 5,000 6.00 % 0.0005 Notes payable, Face Value 07/12/16 01/12/17 2,400 2,400 6.00 % 0.0006 Notes payable, Face Value 01/26/17 03/12/17 5,000 5,000 6.00 % 0.0005 Notes payable, Face Value 02/14/17 08/14/17 25,000 25,000 6.00 % 0.0008 Notes payable, Face Value 08/16/17 09/16/17 3,000 3,000 6.00 % 0.0008 Notes payable, Face Value 01/09/18 01/09/19 12,000 12,000 6.00 % 0.0006 Notes payable, Face Value 03/14/18 05/14/18 25,000 25,000 6.00 % 0.0007 Notes payable, Face Value 04/04/18 06/04/18 3,000 3,000 6.00 % 0.0007 Notes payable, Face Value 04/11/18 06/11/18 25,000 25,000 6.00 % 0.0007 Notes payable, Face Value 05/08/18 07/08/18 25,000 25,000 6.00 % 0.0007 Notes payable, Face Value 05/30/18 08/30/18 25,000 25,000 6.00 % 0.0007 Notes payable, Face Value 06/12/18 09/12/18 3,000 3,000 6.00 % 0.0007 Notes payable, Face Value 06/20/18 09/12/18 500 500 6.00 % 0.0007 Notes payable, Face Value 08/27/18 02/27/19 2,000 2,000 6.00 % 0.0007 Notes payable, Face Value 10/02/18 04/02/19 1,000 1,000 6.00 % 0.0008 Notes payable, Face Value 10/23/18 04/23/19 4,200 4,200 6.00 % 0.0007 Notes payable, Face Value 11/07/18 05/07/19 2,000 2,000 6.00 % 0.0008 Notes payable, Face Value 11/14/18 05/14/19 8,000 8,000 6.00 % 0.0008 Notes payable, Face Value 01/08/19 07/08/19 7,000 7,000 6.00 % 0.0008 Notes payable, Face Value 04/25/19 12/23/19 20,000 20,000 6.00 % 0.0040 Notes payable, Face Value 06/07/19 12/07/19 5,100 5,100 6.00 % 0.0030 Notes payable, Face Value 09/17/19 04/17/20 12,000 12,000 6.00 % 0.0030 Notes payable, Face Value 11/12/19 05/12/20 25,000 25,000 6.00 % 0.0025 Notes payable, Face Value 11/26/19 05/26/20 25,200 25,200 6.00 % 0.0030 Notes payable, Face Value 12/03/19 06/03/20 15,000 15,000 6.00 % 0.0030 Notes payable, Face Value 01/07/20 06/20/20 51,000 51,000 6.00 % 0.0030 Notes payable, Face Value 08/06/20 02/06/21 25,200 25,200 6.00 % 0.0035 Notes payable, Face Value 08/06/20 02/06/21 35,000 35,000 6.00 % 0.0035 Notes payable, Face Value 08/14/20 02/14/21 50,400 50,400 6.00 % 0.0035 Notes payable, Face Value 10/31/21 04/13/22 3,000 3,000 2.00 % 0.0020 Notes payable, Face Value 11/10/21 05/10/22 3,000 3,000 2.00 % 0.0020 Notes payable, Face Value 07/06/22 01/06/23 20,000 20,000 6.00 % 0.0015 Notes payable, Face Value 07/29/22 01/28/23 10,000 10,000 6.00 % 0.0020 Notes payable, Face Value 08/04/22 02/04/23 10,000 10,000 6.00 % 0.0020 Notes payable, Face Value 07/24/23 09/24/23 5,000 5,000 1.00 % 0.00175 Notes payable, Face Value 08/02/23 10/01/23 - 100,000 6.00 % 0.0020 Balance convertible notes payable - related parties, in default $ 689,500 $ 789,500 Balance all convertible notes payable $ 1,041,172 $ 1,144,800 Notes Payable The following tables reflect the notes payable at June 30, 2024 and December 31, 2023: Schedule of Notes Payable Issue Date Maturity June 30, December 31, Rate Principal Principal Notes payable Notes payable, Face Value 11/10/23 11/10/24 $ 500,000 $ 500,000 6.00 % Notes payable, Face Value 02/28/24 02/28/25 350,000 - 6.00 % Notes payable, Face Value 04/01/24 04/01/25 150,000 - 6.00 % Total 1,000,000 500,000 Less unamortized discounts (40,202 ) (95,214 ) Balance notes payable $ 959,798 $ 404,786 Issue Date Maturity June 30, December 31, Rate Principal Principal Notes payable - in default Notes payable, Face Value 04/27/11 04/27/12 $ 5,000 $ 5,000 6.00 % Notes payable, Face Value 12/14/17 12/14/18 2,000 2,000 6.00 % Notes payable, Face Value 11/29/17 11/29/19 105,000 105,000 2.06 % Balance notes payable – default $ 112,000 $ 112,000 Issue Date Maturity June 30, December 31, Rate Principal Principal Notes payable - related parties, in default Notes payable, Face Value 02/24/10 02/24/11 $ 7,500 $ 7,500 6.00 % Notes payable, Face Value 10/06/15 11/15/15 10,000 10,000 6.00 % Notes payable, Face Value 02/08/18 04/09/18 1,000 1,000 6.00 % Balance notes payable - related parties, in default $ 18,500 $ 18,500 Balance all notes payable $ 1,090,298 $ 535,286 Terms of Related Party Convertible Notes Payable and Related Party Notes Payble The Companys related party convertible notes payable and related party notes payable may contain terms that are not indicative of the terms that would not normally be agreeable to non related third parties. New Convertible Notes Payable Issued During the six Month Periods Ended June 30, 2024 and 2023 During the six month period ended June 30, 2024, the Company entered into the following Convertible Notes Payable and Notes Payable Agreements: In February 2024, the Company drew down the second round of funding under a promissory note agreement dated November 10, 2023 in the amount of up to $1,000,000. This note pays interest at a rate of 6% per annum. The lender advanced $350,000 in February 2024. Per the note agreement, the $350,000 received in February 2024 is due on February 27, 2025. The aggregate balance of the note payable at June 30, 2024 and December 31, 2023 is $850,000 and $500,000, respectively. In March of 2024, the Company entered into a convertible promissory note agreement in the amount of $50,000 with an individual. This note pays interest at a rate of 6% per annum and the principal and accrued interest is due on or before March 18, 2025. The lender received 1,000,000 shares of the Companys restricted common stock as a financing fee for providing the loan. The note is unsecured and is convertible at the lenders option into shares of the Companys common stock at a rate that is variable. In March of 2024, the Company entered into a convertible promissory note agreement in the amount of $100,000 with an individual. This note pays interest at a rate of 6% per annum and the principal and accrued interest is due on or before March 28, 2025. The lender received 1,500,000 shares of the Companys restricted common stock as a financing fee for providing the loan. The note is unsecured and is convertible at the lenders option into shares of the Companys common stock at a rate that is variable. In April 2024, the Company drew down the second round of funding under a promissory note agreement dated November 10, 2023 in the amount of up to $1,000,000. This note pays interest at a rate of 6% per annum. The lender advanced $150,000 in April 2024. Per the note agreement, the $150,000 received in April 2024 is due on April 1, 2025. The aggregate balance of the note payable at June 30, 2024 and December 31, 2023 is $1,000,000 and $500,000, respectively. During the six month period ended June 30, 2023 the Company did not enter not enter into any convertible notes payable or notes payable agreements. Repayments of Notes Payable Period Ended June 30, 2024 During the six month period ended June 30, 2024, the Company repaid a related party shareholder a total of $102,679 of the principal balance and accrued interest of a convertible note payable. The balance of the related party convertible note was $0 at June 30, 2024. Period Ended June 30, 2023 During the six month period ended June 30, 2023, the Company repaid a total of $5,000 of the principal of a note payable with an original principal balance of $75,000 that was due on December 14, 2018. The remaining principal balance of the note at June 30, 2024 and December 31, 2023 was $3,000. Note Conversions Period Ended June 30, 2024 The Company issued 61,104,658 shares of restricted common stock with a total share value of $274,970 to a limited liability company to settle $122,209 of the principal and accrued interest owed on a convertible note payable that was due on October 18, 2023. The balance of the convertible note was $0 at June 30, 2024. The Company issued 5,091,424 shares of restricted common stock with a total share value of $44,804 to a limited related party to settle $12,405 of the accrued interest owed on sixteen convertible notes payable. Period Ended June 30, 2023 There were no conversions of convertible promissory notes during the six month period ended June 30, 2023. Shareholder Loan At June 30, 2024 and December 31, 2023, the Company had the following loans outstanding to its CEO in the total amount of $5,000 as follows: - A loan with no due date with a $1,500 remaining balance and an interest rate of 2% and a conversion rate of $0.0005; and - A loan due on September 9, 2022 with a remaining balance of $3,500, and an interest rate of 1%. Collateralized Promissory Notes Two convertible notes outstanding with related parties, dated January 9, 2009 and January 18, 2012 are collateralized by Company assets. Convertible Notes Payable and Notes Payable, in Default The Company does not have additional sources of debt financing to refinance its convertible notes payable and notes payable that are currently in default. If the Company is unable to obtain additional capital, such lenders may file suit, including suit to foreclose on the assets held as collateral for the obligations arising under the secured notes. If any of the lenders file suit to foreclose on the assets held as collateral, then the Company may be forced to significantly scale back or cease its operations, which would more than likely result in a complete loss of all capital that has been invested in or borrowed by the Company. The fact that the Company is in default of several promissory notes held by various lenders makes investing in the Company or providing any loans to the Company extremely risky with a very high potential for a complete loss of capital. The Companys convertible notes payable and notes payable in default represent a very significant risk to the viability of the Company. |
STOCKHOLDERS_ DEFICIT
STOCKHOLDERS’ DEFICIT | 6 Months Ended |
Jun. 30, 2024 | |
Equity [Abstract] | |
STOCKHOLDERS’ DEFICIT | NOTE 6 – STOCKHOLDERS DEFICIT The Companys total authorized capital stock consists of 9,900,000,000 0.0001 Preferred Stock The Company is authorized to issue 50,000,000 Series A Preferred Stock At June 30, 2024 and December 31, 2023, the Company had seven Series B Preferred Stock On February 10, 2014, the Board of Directors of the Company under the authority granted under Article V of the Articles of Incorporation, defined and created a new preferred series of shares from the 50,000,000 authorized preferred shares. Pursuant to Article V, the Board of Directors has the power to designate such shares and all powers and matters concerning such shares. Such share class shall be designated Preferred Class B. The preferred class was created for 60 Preferred Class B shares. Such shares each have a voting power equal to one percent of the outstanding shares issued (totaling 60%) at the time of any vote action as necessary for share votes under Florida law, with or without a shareholder meeting. Such shares are non-convertible to common stock of the Company and are not considered as convertible under any accounting measure. Such shares shall only be held by the Board of Directors as a Corporate body, and shall not be placed into any individual name. Such shares were considered issued at the time of this resolutions adoption, and do not require a stock certificate to exist, unless selected to do so by the Board for representational purposes only. Such shares are considered for voting as a whole amount, and shall be voted for any matter by a majority vote of the Board of Directors. Such shares shall not be divisible among the Board members, and shall be voted as a whole either for or against such a vote upon the vote of the majority of the Board of Directors. In the event that there is any vote taken which results in a tie of a vote of the Board of Directors, the vote of the Chairman of the Board shall control the voting of such shares. Such shares are not transferable except in the case of a change of control of the Corporation when such shares shall continue to be held by the Board of Directors. Such shares have the authority to vote for all matters that require a share vote under Florida law and the Articles of Incorporation. |
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 6 Months Ended |
Jun. 30, 2024 | |
Commitments and Contingencies Disclosure [Abstract] | |
COMMITMENTS AND CONTINGENCIES | NOTE 7 – COMMITMENTS AND CONTINGENCIES Agreement to Explore a Shipwreck Site Located off of Melbourne Beach, Florida In March of 2014, Seafarer entered into a partnership and ownership with MAP with the formation of SQ. SQ was formed in the State of Florida for the purpose of permitting, exploration and recovery of artifacts from a designated area on the east coast of Florida. Such site area is from a defined, contracted area by a separate entity, which a portion of such site is designated from a previous contracted holding through the State of Florida. Under such agreement, Seafarer is responsible for costs of permitting, exploration and recovery, and is entitled to 80% of such artifact recovery after the state of Florida has taken their 20% under any future recovery permits. Seafarer has a 50% ownership, with designated management of the SQ coming from Seafarer. As of June 30, 2024, the partnership has had no operations. Seafarer is responsible for managing the site on behalf of SQ. Vessel and Trailer Rental and Purchase Agreement In January of 2023, the Company entered into a rental and purchase agreement for a vessel and trailer. Under the terms of the agreement, the Company has the right to exclusive use of the vessel, a thirty four foot King Cat manufactured by Baha Cruisers, and trailer to be able to haul the vessel. The Company agreed to make a one time payment of 15,000,000 shares of its restricted common stock, with an agreed upon value of $30,000 for the purposes of the valuation of the vessel and trailer, and pay $1,557 per month for sixty months. The Company and the owner of the vessel and trailer agreed that the price of the shares for the purposes of the share price calculation was $0.002. Once the Company has paid the amount totaling the agreed upon purchase price of $100,000, the owner of the vessel agreed to transfer the title and ownership of the vessel and trailer to the Company. Vehicle Rental and Purchase Agreement In January of 2023, the Company entered into a rental and purchase agreement for a vehicle for use in the Companys operations to tow vessels and other equipment. Under the terms of the agreement, the Company has the right to exclusive use of the vehicle, a 2021 Dodge RAM 3500. The Company agreed to make a one time payment of 11,242,350 shares of its restricted common stock, with an agreed upon value of $22,485 for the purposes of the valuation of the truck, and pay $1,167 per month for sixty two months. Once the Company has an amount totaling the payoff amount, $52,464, to the seller, the seller agreed to transfer title and ownership of the vehicle to the Company. Sonar Rental and Purchase Agreement In May of 2023, the Company entered into a rental and purchase agreement for sonar for use in the Companys operations to scan, identify, and locate historic shipwreck sites. Under the terms of the agreement, the Company has the right to exclusive use of the sonar, a SSS-600K side scan sonar with total of 250 feet of cable, cable connector, laptop computer, software, GPS unit and hard carry case. The Company agreed to make a one time payment of 4,166,700 shares of its restricted common stock, with an agreed upon value of $83,334 for the purposes of the valuation of the sonar, and pay $422 per month for sixty two months. Once the Company has an amount totaling the payoff amount, $26,186, to the seller, the seller agreed to transfer title and ownership of the sonar to the Company. Legal Proceedings On December 21, 2022, the Company filed a lawsuit in the Circuit Court in and for Hillsborough County, Florida against John Grimm (Grimm), for one count of Conversion. On February 8, 2023, the Company amended its Complaint to include Zachary Smith as co-plaintiff (the Company and Smith are collectively the Plaintiffs) against Grimm for one count of Conversion, one count of Rescission, one count of Civil Theft, one count of Breach of Fiduciary Duty, and one count of Judicial Dissolution. The Plaintiffs jointly sought treble damages, attorneys fees, the return of all Seafarer equipment and other equitable relief. In December 2023, the Parties agreed to enter into negotiations towards a settlement. In February 2024, Defendant Grimm agreed to the following terms: i) Vessel – Good Fortune was sold and Plaintiffs received $15,000 cash payment in recognition of Smiths fifty (50%) percent ownership of the haul; ii) Seakeeper Stabilizer, Garmin GPS, and certain other electronics were removed from the Good Fortune and returned to Seafarer; iii) Grimm relinquished 10,000,000 shares of Seafarer Common Stock, which was conveyed to Seafarer in recognition of Plaintiffs Attorney Fees. Seafarer does not anticipate that it will be able to collect any fees from Grimm. Certain Other Agreements See Note 4 Operating Lease Right-of-Use Assets and Operating Lease Liabilities. |
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS | 6 Months Ended |
Jun. 30, 2024 | |
Related Party Transactions [Abstract] | |
RELATED PARTY TRANSACTIONS | NOTE 8 – RELATED PARTY TRANSACTIONS During the six month periods ended June 30, 2024 and 2023, the Company has had extensive dealings with related parties including the following: Six Month Period Ended June 30, 2024 During the six month period ended June 30, 2024, the Company repaid a related party shareholder a total of $102,679 of the principal balance and accrued interest of a convertible note payable. The balance of the related party convertible note was $0 at June 30, 2024. In January of 2024, the Company extended the term of previous agreements with two individuals to continue serving as members of the Companys Board of Directors. Two of the individuals are related to the Companys CEO. Under the agreement, the Directors agreed to provide various services to the Company including making recommendations for both the short term and the long term business strategies to be employed by the Company, monitoring and assessing the Companys business and to advise the Companys Board of Directors with respect to an appropriate business strategy on an ongoing basis, commenting on proposed corporate decisions and identifying and evaluating alternative courses of action, making suggestions to strengthen the Companys operations, identifying and evaluating external threats and opportunities to the Company, evaluating and making ongoing recommendations to the Board with respect for one year and may be terminated by either the Company or the Director by providing written notice to the other party. The previous agreement also terminates automatically upon the death, resignation or removal of the Directors. Under the terms of the agreement, the Company agreed to compensate the related party Board members via payment of 7,000,000 restricted shares of its common stock each, an aggregate total of 14,000,000 shares or $95,200, and to negotiate future compensation on a year-by-year basis. The Company also agreed to reimburse the individuals for preapproved expenses. Six Month Period Ended June 30, 2023 In January of 2023, the Company extended the term of previous agreements with four individuals to continue serving as members of the Company’s Board of Directors. Two of the individuals are related to the Company’s CEO. Under the agreement, the Directors agreed to provide various services to the Company including making recommendations for both the short term and the long term business strategies to be employed by the Company, monitoring and assessing the Company’s business and to advise the Company’s Board of Directors with respect to an appropriate business strategy on an ongoing basis, commenting on proposed corporate decisions and identifying and evaluating alternative courses of action, making suggestions to strengthen the Company’s operations, identifying and evaluating external threats and opportunities to the Company, evaluating and making ongoing recommendations to the Board with respect for one year and may be terminated by either the Company or the Director by providing written notice to the other party. The previous agreement also terminates automatically upon the death, resignation or removal of the Directors. Under the terms of the agreement, the Company agreed to compensate the Board members via payment of 10,000,000 restricted shares of its common stock each, an aggregate total of 30,000,000 shares or $216,000, and to negotiate future compensation on a year-by-year basis. The Company also agreed to reimburse the individuals for preapproved expenses. Additional Related Party Transactions The Company has an informal consulting agreement with a limited liability company that is owned and controlled by a person who is related to its CEO to provide general business consulting services including periodically assessing the Companys business and advising management with respect to business strategy on an ongoing basis, commenting on proposed corporate decisions, perform period background research including background checks and provide investigative information on individuals and companies and to assist, when needed, as an administrative specialist to perform various administrative duties and clerical services including reviewing the Companys agreements. The consultant provides the services under the direction and supervision of the Companys CEO. During the six month periods ended June 30, 2024 and 2023, the Company paid the related party limited liability company consulting fees of $15,000 and $19,000, respectively, for services rendered. During the three month periods ended June 30, 2024 and 2023, the Company paid the related party limited liability company consulting fees of $6,000 and $8,000, respectively, for services rendered. These fees are recorded as an expense in consulting and contractor expenses in the accompanying unaudited condensed consolidated statements of operations. At June 30, 2024 and December 31, 2023, the Company owed the related party limited liability company $0. The Company has an ongoing agreement with a limited liability company that is owned and controlled by a person who is related to the Companys CEO to provide stock transfer agency services. During the six month periods ended June 30, 2024 and 2023, the Company paid the related party limited liability company fees of $3,920 and $11,153, respectively, for services rendered. During the three month periods ended June 30, 2024 and 2023, the Company paid the related party limited liability company consulting fees of $1,845 and $0, respectively, for services rendered. These fees are recorded as an expense in general and administrative expenses in the accompanying unaudited condensed consolidated statements of operations. At June 30, 2024 and December 31, 2023, the Company owed the related party limited liability company $0 respectively. During the six month periods ended June 30, 2024 and 2023, the Company paid a related party consultant fees of $0 and $15,000, respectively, for consulting services. During the three month periods ended June 30, 2024 and 2023, the Company paid a related party consultant fees of $0 and $12,000, respectively for consulting services. All of the fees paid to the related party consultant are recorded as an expense in consulting and contractor expenses in the accompanying unaudited condensed consolidated statements of operations. At June 30, 2024 and December 31, 2023, the Company owed the related party limited liability company $0, respectively. Related Party Transactions The Companys related party transactions are not necessarily indicative of the terms that would not normally be agreeable to non related third parties. Shareholder Loan See Note 5 convertible notes payable – related parties, convertible notes payable – related parties, in default, and notes payable - related parties, in default. At June 30, 2024, the following promissory notes and shareholder loans were outstanding to related parties: See Note 5 convertible notes payable – related parties, convertible notes payable – related parties, in default, and notes payable - related parties, in default. |
SEGMENT INFORMATION
SEGMENT INFORMATION | 6 Months Ended |
Jun. 30, 2024 | |
Segment Reporting [Abstract] | |
SEGMENT INFORMATION | NOTE 9 – SEGMENT INFORMATION Seafarers wholly owned subsidiary Blockchain began operations in 2019 by providing referrals in exchange for referral fees for closed business. Due to Blockchain starting operations which have no relation to the Companys shipwreck and exploration recovery business, the Company evaluated this business and its impact upon the existing corporate structure. The Company has determined that Blockchain and Seafarer Exploration Corp. operate as separate segments of the business. As such, the Company has presented the income (loss) from operations during the six month periods ended June 30, 2024 and 2023 incurred by the two separate segments below. During the six month periods ended June 30, 2024 and 2023, Blockchain revenues were $0 and were 0% of the consolidated revenues of the Company. Segment information relating to the Companys two operating segments for the six month period ended June 30, 2024 is as follows: Schedule of Segment Reporting Information, by Segment June 30, 2024 June 30, 2024 June 30, 2024 Blockchain LogisTech, LLC Seafarer Exploration Corp. Consolidated Service revenues $ - $ 3,170 $ 3,170 Total operating expenses - 1,924,444 1,924,444 Net loss from operations $ - $ (1,921,274 ) $ (1,921,274 ) Segment information relating to the Companys two operating segments for the six month period ended June 30, 2023 is as follows: June 30, 2023 June 30, 2023 June 30, 2023 Blockchain LogisTech, LLC Seafarer Exploration Corp. Consolidated Service revenues $ - $ 590 $ 590 Total operating expenses - 1,550,242 1,550,242 Net loss from operations $ - $ (1,549,652 ) $ (1,549,652 ) |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 6 Months Ended |
Jun. 30, 2024 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | NOTE 10– SUBSEQUENT EVENTS Subsequent to June 30, 2024, the Company issued or has agreed to issue shares of its common stock as follows: (i) Issuance of 1,483,334 |
SUMMARY OF SIGNIFICANT ACCOUN_2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 6 Months Ended |
Jun. 30, 2024 | |
Accounting Policies [Abstract] | |
Principles of Consolidation | Principles of Consolidation The unaudited condensed consolidated financial statements of the Company include the accounts of the Company and Blockchain which is a wholly owned subsidiary. Intercompany accounts and transactions have been eliminated in consolidation. |
Reclassifications | Reclassifications Certain reclassifications were made to the prior consolidated financial statements to conform to the current period presentation. There was no change to the previously reported net loss. |
Cash and Cash Equivalents | Cash and Cash Equivalents For purposes of the unaudited condensed consolidated statements of cash flows, the Company considers all highly liquid investments and short-term debt instruments with original maturities of three months or less to be cash equivalents. There were no cash equivalents at June 30, 2024 and December 31, 2023. Financial instruments that potentially subject the Company to concentration of credit risk consist principally of cash deposits. Accounts at each institution are insured by the Federal Deposit Insurance Corporation (FDIC) up to $ 250,000 223,676 |
Research and Development Expenses | Research and Development Expenses Expenditures for research and development are expensed as incurred. The Company incurred research and development expenses of $ 288,983 105,934 157,055 73,834 |
Revenue Recognition | Revenue Recognition The Company recognizes revenue in accordance with the Financial Accounting Standards Boards (FASB) Accounting Standards Codification (ASC) Topic 606, Revenue from Contracts with Customers The core principle of ASC 606 requires that an entity recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those goods or services. ASC 606 defines a five-step process to achieve this core principle and, in doing so, it is possible more judgment and estimates may be required within the revenue recognition process than required under GAAP, including identifying performance obligations in the contract, estimating the amount of variable consideration to include in the transaction price and allocating the transaction price to each separate performance obligation. The Company recognizes revenue from the referrals that Blockchain has made to providers of software services when payment for a referral is received from the provider of software services. Blockchain, at its sole discretion and with no specific sales quotas or targets, provides referrals of potential end users to the software service providers and is paid a referral fee only after the software services providers receive payment from the end user. The Company also has a separate sales referral agreement, with no sales quotas or specific goals or targets, with a limited liability company that provides product/system engineering and development services. The Companys performance obligation is met when the payment from the customer is received by the provider of the development services, which is at a point in time. The Company receives referral fees when payment is received from the provider of the product/system development services which is when the Company recognizes revenue under the agreement. The Company recognizes revenue when cash is received or when it has met its obligations per the terms of a contract or agreement for services. Payments received for services are recorded as deferred revenue and are recognized as revenue when the services have been provided. During 2021 the Company entered into an agreement to provide scanning services using its SeaSearcher technology to a corporation involved in searching for historic shipwreck material. Under the terms of the agreement the Company received an upfront payment of $140,000 which has been included in the accompanying unaudited condensed consolidated balance sheets at June 30, 2024 and December 31, 2023 as deferred revenue as the services have not yet been provided. |
Earnings Per Share | Earnings Per Share The Company has adopted the FASB ASC 260-10, Earnings per Share The potentially dilutive common stock equivalents for the six month periods ended June 30, 2024 and 2023 were excluded from the dilutive loss per share calculation as they would be antidilutive due to the net loss. As of June 30, 2024 and 2023, there were approximately 606,961,668 673,692,795 |
Fair Value of Financial Instruments | Fair Value of Financial Instruments The carrying amounts of financial assets and liabilities, such as cash, accounts payable, accrued expenses, convertible notes payable and payables, approximate their fair values because of the short maturity of these instruments. |
Property, Plant and Equipment | Property, Plant and Equipment Property, plant and equipment are recorded at historical cost. Depreciation is computed on the straight-line method over the estimated useful lives of the respective assets. Depreciation expense was $ 10,930 5,465 |
Impairment of Long-Lived Assets | Impairment of Long-Lived Assets In accordance with ASC 360-10, Impairment and Disposal of Long Lived Asset |
Use of Estimates | Use of Estimates The process of preparing condensed consolidated financial statements in conformity with GAAP requires the use of estimates and assumptions regarding certain types of assets, liabilities, revenues, and expenses. Significant estimates for the six month periods ended June 30, 2024 and 2023 include useful life of property, plant and equipment, valuation allowances against deferred tax assets and the fair value of non cash equity transactions. |
Segment Information | Segment Information During 2019, Seafarers wholly owned subsidiary, Blockchain, began operations, generated revenue and incurred expenses. The business of Blockchain has no relation to the Companys shipwreck exploration and recovery operations other than common ownership. As such, the Company concluded that the operations of Blockchain and Seafarer Exploration were separate reportable segments as of the six month periods ended June 30, 2024 and 2023 (see Note 9– Segment Information). |
Convertible Debentures | Convertible Debentures The Company adheres to the guidance in Accounting Standards Updated (ASU) 2020-06, Accounting for Convertible Instruments and Contracts in an Entitys Own Equity |
Fair Value Measurements and Fair Value of Financial Instruments | Fair Value Measurements and Fair Value of Financial Instruments The Company adopted ASC Topic 820, Fair Value Measurements Level 1: Inputs are unadjusted quoted prices in active markets for identical assets or liabilities available at the measurement date. Level 2: Inputs are unadjusted quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, inputs other than quoted prices that are observable, and inputs derived from or corroborated by observable market data. Level 3: Inputs are unobservable inputs which reflect the reporting entitys own assumptions on what assumptions the market participants would use in pricing the asset or liability based on the best available information. The estimated fair value of certain financial instruments, including all current liabilities are carried at historical cost basis, which approximates their fair values because of the short-term nature of these instruments. The inputs to the valuation methodology of stock options and warrants were under level 3 fair value measurements. ASC subtopic 825-10, Financial Instruments The Company follows ASC subtopic 820-10, Fair Value Measurements and Disclosures |
Stock Based Compensation | Stock Based Compensation The Company applies the fair value method of FASB ASC 718, Share Based Payment Fully vested and non-forfeitable shares issued prior to the services being performed are classified as prepaid expenses. |
Leases | Leases The Company accounts for leases under ASU 2016-02. At the inception of a contract the Company assesses whether the contract is, or contains, a lease. The Companys assessment is based on: (1) whether the contract involves the use of a distinct identified asset, (2) whether the Company obtains the right to substantially all the economic benefit from the use of the asset throughout the period, and (3) whether it has the right to direct the use of the asset. The Company will allocate the consideration in the contract to each lease component based on its relative stand-alone price to determine the lease payments. Operating lease right of use (ROU) assets represents the right to use the leased asset for the lease term and operating lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at commencement date. As most leases do not provide an implicit rate, the Company uses an incremental borrowing rate based on the information available at the adoption date in determining the present value of future payments. Lease expense for minimum lease payments is amortized on a straight-line basis over the lease term and is presented in operating expenses on the unaudited condensed consolidated statements of operations. Finance leases are recorded as a finance lease liability and property, plant and equipment asset, based on the present value of lease payments. The asset is depreciated, and the liability is amortized with interest expense incurred over the life of the lease. As permitted under the new guidance, the Company has made an accounting policy election not to apply the recognition provisions of the guidance to short term leases (leases with a lease term of twelve months or less that do not include an option to purchase the underlying asset that the lessee is reasonably certain to exercise); instead, the Company will recognize the lease payments for short term leases on a straight-line basis over the lease term. |
Income Taxes | Income Taxes Income taxes are computed using the asset and liability method. Under the asset and liability method, deferred income tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities and are measured using the currently enacted tax rates and laws. A valuation allowance is provided for the amount of deferred tax assets that, based on available evidence, are not expected to be realized. |
Subsequent Events | Subsequent Events It is the Companys policy to evaluate all events that occur after the balance sheet date through the date when the condensed consolidated financial statements were issued to determine if they must be reported. |
Recent Accounting Pronouncements | Recent Accounting Pronouncements All other recent accounting pronouncements issued by the FASB, including ASU 2023-07 and 2023-09, did not or are not believed by management to have a material impact on the Companys present or future condensed consolidated financial statements. |
RIGHT-OF-USE ASSETS AND OPERA_2
RIGHT-OF-USE ASSETS AND OPERATING AND FINANCE LEASE LIABILITIES (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
Leases [Abstract] | |
Schedule of right-of- use assets | Right-of-use assets at June 30, 2024 and December 31, 2023 are summarized below: Schedule of right-of- use assets June 30, 2024 December 31, 2023 Office lease $ 37,502 $ 37,502 Less accumulated amortization (16,268 ) (7,212 ) Right of use assets, net $ 21,234 $ 30,290 |
Schedule of operating lease liabilities | Operating Lease liabilities are summarized below: Schedule of operating lease liabilities June 30, 2024 December 31, 2023 Office lease $ 21,609 $ 30,457 Less: current portion (19,856 ) (18,483 ) Long term portion $ 1,753 $ 11,974 |
Schedule of Maturity of lease liabilities | Maturity of lease liabilities are as follows: Schedule of Maturity of lease liabilities Year ended December 31, 2024 $ 10,442 Year ended December 31, 2025 12,262 Total future minimum lease payments 22,704 Less: Present value discount (1,095 ) Lease liability $ 21,609 |
Finance right of use assets are summarized below: | Finance right of use assets are summarized below: As of As of June 30, December 31, 2024 2023 Vehicle lease $ 53,100 $ 53,100 Vessel lease 70,849 70,849 Sonar lease 18,987 18,987 Finance right of use asset before Accumulated Amortization 142,936 142,936 Less accumulated amortization (41,005 ) (26,915 ) Finance right of use asset $ 101,931 $ 116,021 |
Schedule of Finance Lease Liabilities | Finance lease liabilities are summarized below: Schedule of Finance Lease Liabilities As of As of June 30, December 31, 2024 2023 Vehicle lease $ 40,625 $ 45,034 Vessel lease 54,202 60,085 Sonar lease 15,511 17,061 Total Lease Liabilities 110,338 122,180 Less: current portion (25,149 ) (22,263 ) Long term portion $ 85,189 $ 99,917 |
Schedule of Future minimum lease payments | Maturity of lease liabilities are as follows: Schedule of Future minimum lease payments Year Ended December 31, 2024 $ 18,879 Year Ended December 31, 2025 37,758 Year Ended December 31, 2026 37,758 Year Ended December 31, 2027 37,758 Thereafter 4,413 Total future minimum lease payments 136,566 Less imputed interest (26,228 ) PV of payments $ 110,338 |
Schedule of Expenses with respect to Finance Leases | Expenses incurred with respect to the Companys finance leases during the three and six months ended June 30, 2024 and 2023 which are included in rent expense on the unaudited condensed consolidated statements of operations are set forth below. Schedule of Expenses with respect to Finance Leases Three Months Ended June 30, June 30, 2024 2023 Finance lease amortization $ 7,045 $ 6,729 Finance lease interest 3,431 3,973 Total finance lease expense $ 10,476 $ 10,702 Six Months Ended June 30, June 30, 2024 2023 Finance lease amortization $ 14,091 $ 11,559 Finance lease interest 7,038 7,589 Total finance lease expense $ 21,129 $ 19,148 |
Schedule of Weighted Average Remaining Lease Team and Average Discount on Finance Leases | The weighted average remaining lease term and the weighted average discount rate on the finance leases at June 30, 2024 and December 31, 2023 are set forth below. Schedule of Weighted Average Remaining Lease Team and Average Discount on Finance Leases June 30, December 31, 2024 2023 Weighted average remaining lease term 3.67 years 4.17 years Weighted average discount rate 12% 12% |
CONVERTIBLE NOTES PAYABLE AND_2
CONVERTIBLE NOTES PAYABLE AND NOTES PAYABLE (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
Convertible Notes Payable And Notes Payable | |
Schedule of Convertible Notes Payable | Convertible Notes Payable The following tables reflect the convertible notes payable at June 30, 2024 and December 31, 2023: Schedule of Convertible Notes Payable Issue Date Maturity June 30, December 31, Rate Conversion Principal Principal Convertible notes payable Notes payable, Face Value 03/18/24 03/18/25 $ 50,000 $ - 6.00% Variable Notes payable, Face Value 03/28/24 03/28/25 100,000 - 6.00% Variable Total 150,000 - Less unamortized discounts 33,628 - Balance convertible notes payable $ 116,372 $ - Issue Date Maturity June 30, December 31, Rate Conversion Principal Principal Convertible notes payable - in default Notes payable, Face Value 08/28/09 11/01/09 $ 4,300 $ 4,300 10.00 % 0.0150 Notes payable, Face Value 11/20/12 05/20/13 50,000 50,000 6.00 % 0.0050 Notes payable, Face Value 01/19/13 07/30/13 5,000 5,000 6.00 % 0.0040 Notes payable, Face Value 02/11/13 08/11/13 9,000 9,000 6.00 % 0.0060 Notes payable, Face Value 09/25/13 03/25/14 10,000 10,000 6.00 % 0.0125 Notes payable, Face Value 10/04/13 04/04/14 50,000 50,000 6.00 % 0.0125 Notes payable, Face Value 05/15/14 11/15/14 40,000 40,000 6.00 % 0.0070 Notes payable, Face Value 09/18/15 03/18/16 25,000 25,000 6.00 % 0.0020 Notes payable, Face Value 07/19/16 07/19/17 4,000 4,000 6.00 % 0.0015 Notes payable, Face Value 02/06/18 11/07/18 6,000 6,000 6.00 % 0.0006 Notes payable, Face Value 03/06/18 09/06/18 6,000 6,000 6.00 % 0.0006 Notes payable, Face Value 01/03/19 07/03/19 1,000 1,000 6.00 % 0.0010 Notes payable, Face Value 09/04/19 03/04/20 25,000 25,000 6.00 % 0.0030 Notes payable, Face Value 09/18/23 10/18/23 - 120,000 6.00 % 0.0020 Balance convertible notes payable - in default $ 235,300 $ 355,300 Issue Date Maturity June 30, December 31, Rate Conversion Principal Principal Convertible notes payable - related parties, in default Notes payable, Face Value 01/09/09 01/09/10 $ 10,000 $ 10,000 10.00 % 0.0150 Notes payable, Face Value 01/25/10 01/25/11 6,000 6,000 6.00 % 0.0050 Notes payable, Face Value 01/18/12 07/18/12 50,000 50,000 8.00 % 0.0040 Notes payable, Face Value 01/19/13 07/30/13 15,000 15,000 6.00 % 0.0040 Notes payable, Face Value 07/26/13 01/26/14 10,000 10,000 6.00 % 0.0100 Notes payable, Face Value 01/17/14 07/17/14 31,500 31,500 6.00 % 0.0060 Notes payable, Face Value 05/27/14 11/27/14 7,000 7,000 6.00 % 0.0070 Notes payable, Face Value 07/21/14 01/25/15 17,000 17,000 6.00 % 0.0080 Notes payable, Face Value 10/16/14 04/16/15 21,000 21,000 6.00 % 0.0045 Notes payable, Face Value 07/14/15 01/14/16 9,000 9,000 6.00 % 0.0030 Notes payable, Face Value 01/12/16 07/12/16 5,000 5,000 6.00 % 0.0020 Notes payable, Face Value 05/10/16 11/10/16 5,000 5,000 6.00 % 0.0005 Notes payable, Face Value 05/10/16 11/10/16 5,000 5,000 6.00 % 0.0005 Notes payable, Face Value 05/20/16 11/20/16 5,000 5,000 6.00 % 0.0005 Notes payable, Face Value 07/12/16 01/12/17 2,400 2,400 6.00 % 0.0006 Notes payable, Face Value 01/26/17 03/12/17 5,000 5,000 6.00 % 0.0005 Notes payable, Face Value 02/14/17 08/14/17 25,000 25,000 6.00 % 0.0008 Notes payable, Face Value 08/16/17 09/16/17 3,000 3,000 6.00 % 0.0008 Notes payable, Face Value 01/09/18 01/09/19 12,000 12,000 6.00 % 0.0006 Notes payable, Face Value 03/14/18 05/14/18 25,000 25,000 6.00 % 0.0007 Notes payable, Face Value 04/04/18 06/04/18 3,000 3,000 6.00 % 0.0007 Notes payable, Face Value 04/11/18 06/11/18 25,000 25,000 6.00 % 0.0007 Notes payable, Face Value 05/08/18 07/08/18 25,000 25,000 6.00 % 0.0007 Notes payable, Face Value 05/30/18 08/30/18 25,000 25,000 6.00 % 0.0007 Notes payable, Face Value 06/12/18 09/12/18 3,000 3,000 6.00 % 0.0007 Notes payable, Face Value 06/20/18 09/12/18 500 500 6.00 % 0.0007 Notes payable, Face Value 08/27/18 02/27/19 2,000 2,000 6.00 % 0.0007 Notes payable, Face Value 10/02/18 04/02/19 1,000 1,000 6.00 % 0.0008 Notes payable, Face Value 10/23/18 04/23/19 4,200 4,200 6.00 % 0.0007 Notes payable, Face Value 11/07/18 05/07/19 2,000 2,000 6.00 % 0.0008 Notes payable, Face Value 11/14/18 05/14/19 8,000 8,000 6.00 % 0.0008 Notes payable, Face Value 01/08/19 07/08/19 7,000 7,000 6.00 % 0.0008 Notes payable, Face Value 04/25/19 12/23/19 20,000 20,000 6.00 % 0.0040 Notes payable, Face Value 06/07/19 12/07/19 5,100 5,100 6.00 % 0.0030 Notes payable, Face Value 09/17/19 04/17/20 12,000 12,000 6.00 % 0.0030 Notes payable, Face Value 11/12/19 05/12/20 25,000 25,000 6.00 % 0.0025 Notes payable, Face Value 11/26/19 05/26/20 25,200 25,200 6.00 % 0.0030 Notes payable, Face Value 12/03/19 06/03/20 15,000 15,000 6.00 % 0.0030 Notes payable, Face Value 01/07/20 06/20/20 51,000 51,000 6.00 % 0.0030 Notes payable, Face Value 08/06/20 02/06/21 25,200 25,200 6.00 % 0.0035 Notes payable, Face Value 08/06/20 02/06/21 35,000 35,000 6.00 % 0.0035 Notes payable, Face Value 08/14/20 02/14/21 50,400 50,400 6.00 % 0.0035 Notes payable, Face Value 10/31/21 04/13/22 3,000 3,000 2.00 % 0.0020 Notes payable, Face Value 11/10/21 05/10/22 3,000 3,000 2.00 % 0.0020 Notes payable, Face Value 07/06/22 01/06/23 20,000 20,000 6.00 % 0.0015 Notes payable, Face Value 07/29/22 01/28/23 10,000 10,000 6.00 % 0.0020 Notes payable, Face Value 08/04/22 02/04/23 10,000 10,000 6.00 % 0.0020 Notes payable, Face Value 07/24/23 09/24/23 5,000 5,000 1.00 % 0.00175 Notes payable, Face Value 08/02/23 10/01/23 - 100,000 6.00 % 0.0020 Balance convertible notes payable - related parties, in default $ 689,500 $ 789,500 Balance all convertible notes payable $ 1,041,172 $ 1,144,800 |
Schedule of Notes Payable | Notes Payable The following tables reflect the notes payable at June 30, 2024 and December 31, 2023: Schedule of Notes Payable Issue Date Maturity June 30, December 31, Rate Principal Principal Notes payable Notes payable, Face Value 11/10/23 11/10/24 $ 500,000 $ 500,000 6.00 % Notes payable, Face Value 02/28/24 02/28/25 350,000 - 6.00 % Notes payable, Face Value 04/01/24 04/01/25 150,000 - 6.00 % Total 1,000,000 500,000 Less unamortized discounts (40,202 ) (95,214 ) Balance notes payable $ 959,798 $ 404,786 Issue Date Maturity June 30, December 31, Rate Principal Principal Notes payable - in default Notes payable, Face Value 04/27/11 04/27/12 $ 5,000 $ 5,000 6.00 % Notes payable, Face Value 12/14/17 12/14/18 2,000 2,000 6.00 % Notes payable, Face Value 11/29/17 11/29/19 105,000 105,000 2.06 % Balance notes payable – default $ 112,000 $ 112,000 Issue Date Maturity June 30, December 31, Rate Principal Principal Notes payable - related parties, in default Notes payable, Face Value 02/24/10 02/24/11 $ 7,500 $ 7,500 6.00 % Notes payable, Face Value 10/06/15 11/15/15 10,000 10,000 6.00 % Notes payable, Face Value 02/08/18 04/09/18 1,000 1,000 6.00 % Balance notes payable - related parties, in default $ 18,500 $ 18,500 Balance all notes payable $ 1,090,298 $ 535,286 |
SEGMENT INFORMATION (Tables)
SEGMENT INFORMATION (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
Segment Reporting [Abstract] | |
Schedule of Segment Reporting Information, by Segment | Segment information relating to the Companys two operating segments for the six month period ended June 30, 2024 is as follows: Schedule of Segment Reporting Information, by Segment June 30, 2024 June 30, 2024 June 30, 2024 Blockchain LogisTech, LLC Seafarer Exploration Corp. Consolidated Service revenues $ - $ 3,170 $ 3,170 Total operating expenses - 1,924,444 1,924,444 Net loss from operations $ - $ (1,921,274 ) $ (1,921,274 ) Segment information relating to the Companys two operating segments for the six month period ended June 30, 2023 is as follows: June 30, 2023 June 30, 2023 June 30, 2023 Blockchain LogisTech, LLC Seafarer Exploration Corp. Consolidated Service revenues $ - $ 590 $ 590 Total operating expenses - 1,550,242 1,550,242 Net loss from operations $ - $ (1,549,652 ) $ (1,549,652 ) |
GOING CONCERN (Details Narrativ
GOING CONCERN (Details Narrative) - USD ($) | 3 Months Ended | 6 Months Ended | |||||
Jun. 30, 2024 | Mar. 31, 2024 | Jun. 30, 2023 | Mar. 31, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | Dec. 31, 2023 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |||||||
Retained Earnings (Accumulated Deficit) | $ 30,640,126 | $ 30,640,126 | $ 28,347,458 | ||||
Net Income (Loss) Attributable to Parent | 980,598 | $ 1,312,070 | $ 614,131 | $ 991,370 | 2,292,668 | $ 1,605,501 | |
Working Capital Defecit | $ 2,321,283 | $ 2,321,283 |
SUMMARY OF SIGNIFICANT ACCOUN_3
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | Dec. 31, 2023 | |
Accounting Policies [Abstract] | |||||
Cash, FDIC Insured Amount | $ 250,000 | ||||
Cash, Uninsured Amount | $ 223,676 | $ 223,676 | |||
Research and Development Expense | 157,055 | $ 73,834 | $ 288,983 | $ 105,934 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 606,961,668 | 673,692,795 | |||
Depreciation | $ 5,465 | $ 5,465 | $ 10,930 | $ 10,930 |
RIGHT-OF-USE ASSETS AND OPERA_3
RIGHT-OF-USE ASSETS AND OPERATING AND FINANCE LEASE LIABILITIES (Details) - USD ($) | Jun. 30, 2024 | Dec. 31, 2023 |
Leases [Abstract] | ||
Office lease | $ 37,502 | $ 37,502 |
Less accumulated amortization | (16,268) | (7,212) |
Right of use assets, net | 21,234 | 30,290 |
Office lease | 21,609 | 30,457 |
Less: current portion | (19,856) | (18,483) |
Long term portion | $ 1,753 | $ 11,974 |
RIGHT-OF-USE ASSETS AND OPERA_4
RIGHT-OF-USE ASSETS AND OPERATING AND FINANCE LEASE LIABILITIES (Details 3) - USD ($) | Jun. 30, 2024 | Dec. 31, 2023 |
Leases [Abstract] | ||
Year ended December 31, 2024 | $ 10,442 | |
Year ended December 31, 2025 | 12,262 | |
Total future minimum lease payments | 22,704 | |
Less: Present value discount | (1,095) | |
Lease liability | $ 21,609 | $ 30,457 |
RIGHT-OF-USE ASSETS AND OPERA_5
RIGHT-OF-USE ASSETS AND OPERATING AND FINANCE LEASE LIABILITIES (Details 4) - USD ($) | Jun. 30, 2024 | Dec. 31, 2023 |
Lessee, Lease, Description [Line Items] | ||
Finance right of use asset before Accumulated Amortization | $ 142,936 | $ 142,936 |
Less accumulated amortization | (41,005) | (26,915) |
Finance right of use asset | 101,931 | 116,021 |
Vehicles [Member] | ||
Lessee, Lease, Description [Line Items] | ||
Finance right of use asset before Accumulated Amortization | 53,100 | 53,100 |
Containers [Member] | ||
Lessee, Lease, Description [Line Items] | ||
Finance right of use asset before Accumulated Amortization | 70,849 | 70,849 |
Sonar [Member] | ||
Lessee, Lease, Description [Line Items] | ||
Finance right of use asset before Accumulated Amortization | $ 18,987 | $ 18,987 |
RIGHT-OF-USE ASSETS AND OPERA_6
RIGHT-OF-USE ASSETS AND OPERATING AND FINANCE LEASE LIABILITIES (Details 5) - USD ($) | Jun. 30, 2024 | Dec. 31, 2023 |
Lessee, Lease, Description [Line Items] | ||
Total Lease Liabilities | $ 110,338 | $ 122,180 |
Less: current portion | (25,149) | (22,263) |
Long term portion | 85,189 | 99,917 |
Vehicles [Member] | ||
Lessee, Lease, Description [Line Items] | ||
Total Lease Liabilities | 40,625 | 45,034 |
Containers [Member] | ||
Lessee, Lease, Description [Line Items] | ||
Total Lease Liabilities | 54,202 | 60,085 |
Sonar [Member] | ||
Lessee, Lease, Description [Line Items] | ||
Total Lease Liabilities | $ 15,511 | $ 17,061 |
RIGHT-OF-USE ASSETS AND OPERA_7
RIGHT-OF-USE ASSETS AND OPERATING AND FINANCE LEASE LIABILITIES (Details 6) - USD ($) | Jun. 30, 2024 | Dec. 31, 2023 |
Leases [Abstract] | ||
Year Ended December 31, 2024 | $ 18,879 | |
Year Ended December 31, 2025 | 37,758 | |
Year Ended December 31, 2026 | 37,758 | |
Year Ended December 31, 2027 | 37,758 | |
Thereafter | 4,413 | |
Total future minimum lease payments | 136,566 | |
Less imputed interest | (26,228) | |
PV of payments | $ 110,338 | $ 122,180 |
RIGHT-OF-USE ASSETS AND OPERA_8
RIGHT-OF-USE ASSETS AND OPERATING AND FINANCE LEASE LIABILITIES (Details 7) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Leases [Abstract] | ||||
Finance lease amortization | $ 7,045 | $ 6,729 | $ 14,091 | $ 11,559 |
Finance lease interest | 3,431 | 3,973 | 7,038 | 7,589 |
Total finance lease expense | $ 10,476 | $ 10,702 | $ 21,129 | $ 19,148 |
RIGHT-OF-USE ASSETS AND OPERA_9
RIGHT-OF-USE ASSETS AND OPERATING AND FINANCE LEASE LIABILITIES (Details 8) | Jun. 30, 2024 | Dec. 31, 2023 |
Leases [Abstract] | ||
Operating Lease, Weighted Average Remaining Lease Term | 3 years 8 months 1 day | 4 years 2 months 1 day |
Operating Lease, Weighted Average Discount Rate, Percent | 12% | 12% |
RIGHT-OF-USE ASSETS AND OPER_10
RIGHT-OF-USE ASSETS AND OPERATING AND FINANCE LEASE LIABILITIES (Details Narrative) - USD ($) | 1 Months Ended | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||||
Jul. 31, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | Jul. 31, 2025 | Jul. 31, 2024 | Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2021 | |
Subsequent Event [Line Items] | ||||||||||
Monthly Rents | $ 1,611 | $ 17,643 | $ 10,418 | $ 27,031 | $ 24,187 | $ 1,612 | $ 1,564 | $ 1,519 | $ 1,475 | |
Operating Lease, Expense | $ 5,154 | $ 4,601 | ||||||||
Subsequent Event [Member] | ||||||||||
Subsequent Event [Line Items] | ||||||||||
Monthly Rents | $ 1,676 |
CONVERTIBLE NOTES PAYABLE AND_3
CONVERTIBLE NOTES PAYABLE AND NOTES PAYABLE (Details) - USD ($) | 6 Months Ended | ||
Jun. 30, 2024 | Dec. 31, 2023 | Jun. 30, 2023 | |
Short-Term Debt [Line Items] | |||
Convertible Notes Payable, Discount | $ 33,628 | ||
Convertible Notes Payable, Current | 116,372 | ||
Convertible Notes Payable | 1,041,172 | 1,144,800 | |
Convertible Notes Payable [Member] | |||
Short-Term Debt [Line Items] | |||
Debt Instrument, Face Amount | 150,000 | ||
Debt Instrument, Face Amount | |||
Debt Instrument, Face Amount | $ 150,000 | ||
Convertible Notes Payable [Member] | Notes Issued 03/18/24 [Member] | |||
Short-Term Debt [Line Items] | |||
Debt Instrument, Issuance Date | Mar. 18, 2024 | ||
Debt Instrument, Maturity Date | Mar. 18, 2025 | ||
Debt Instrument, Face Amount | $ 50,000 | ||
Debt Instrument, Face Amount | |||
Debt Instrument, Interest Rate, Stated Percentage | 6% | ||
Debt Instrument, Face Amount | $ 50,000 | ||
Convertible Notes Payable [Member] | Notes Issued 03/28/24 [Member] | |||
Short-Term Debt [Line Items] | |||
Debt Instrument, Issuance Date | Mar. 28, 2024 | ||
Debt Instrument, Maturity Date | Mar. 28, 2025 | ||
Debt Instrument, Face Amount | $ 100,000 | ||
Debt Instrument, Face Amount | |||
Debt Instrument, Interest Rate, Stated Percentage | 6% | ||
Debt Instrument, Face Amount | $ 100,000 | ||
Convertible Notes Payable, In Default [Member] | |||
Short-Term Debt [Line Items] | |||
Debt Instrument, Face Amount | 235,300 | ||
Debt Instrument, Face Amount | $ 235,300 | $ 355,300 | |
Convertible Notes Payable, In Default [Member] | Notes Issued 08/28/09 [Member] | |||
Short-Term Debt [Line Items] | |||
Debt Instrument, Issuance Date | Aug. 28, 2009 | ||
Debt Instrument, Maturity Date | Nov. 01, 2009 | ||
Debt Instrument, Face Amount | $ 4,300 | ||
Debt Instrument, Face Amount | $ 4,300 | ||
Debt Instrument, Interest Rate, Stated Percentage | 10% | ||
Debt Instrument, Face Amount | $ 4,300 | 4,300 | |
Debt Instrument, Convertible, Conversion Price | $ 0.0150 | ||
Convertible Notes Payable, In Default [Member] | Notes Issued 11/20/12 [Member] | |||
Short-Term Debt [Line Items] | |||
Debt Instrument, Issuance Date | Nov. 20, 2012 | ||
Debt Instrument, Maturity Date | May 20, 2013 | ||
Debt Instrument, Face Amount | $ 50,000 | ||
Debt Instrument, Face Amount | $ 50,000 | ||
Debt Instrument, Interest Rate, Stated Percentage | 6% | ||
Debt Instrument, Face Amount | $ 50,000 | 50,000 | |
Debt Instrument, Convertible, Conversion Price | $ 0.0050 | ||
Convertible Notes Payable, In Default [Member] | Notes Issued 01/19/13 [Member] | |||
Short-Term Debt [Line Items] | |||
Debt Instrument, Issuance Date | Jan. 19, 2013 | ||
Debt Instrument, Maturity Date | Jul. 30, 2013 | ||
Debt Instrument, Face Amount | $ 5,000 | ||
Debt Instrument, Face Amount | $ 5,000 | ||
Debt Instrument, Interest Rate, Stated Percentage | 6% | ||
Debt Instrument, Face Amount | $ 5,000 | 5,000 | |
Debt Instrument, Convertible, Conversion Price | $ 0.0040 | ||
Convertible Notes Payable, In Default [Member] | Notes Issued 02/11/13 [Member] | |||
Short-Term Debt [Line Items] | |||
Debt Instrument, Issuance Date | Feb. 11, 2013 | ||
Debt Instrument, Maturity Date | Aug. 11, 2013 | ||
Debt Instrument, Face Amount | $ 9,000 | ||
Debt Instrument, Face Amount | $ 9,000 | ||
Debt Instrument, Interest Rate, Stated Percentage | 6% | ||
Debt Instrument, Face Amount | $ 9,000 | 9,000 | |
Debt Instrument, Convertible, Conversion Price | $ 0.0060 | ||
Convertible Notes Payable, In Default [Member] | Notes Issued 09/25/13 [Member] | |||
Short-Term Debt [Line Items] | |||
Debt Instrument, Issuance Date | Sep. 25, 2013 | ||
Debt Instrument, Maturity Date | Mar. 25, 2014 | ||
Debt Instrument, Face Amount | $ 10,000 | ||
Debt Instrument, Face Amount | $ 10,000 | ||
Debt Instrument, Interest Rate, Stated Percentage | 6% | ||
Debt Instrument, Face Amount | $ 10,000 | 10,000 | |
Debt Instrument, Convertible, Conversion Price | $ 0.0125 | ||
Convertible Notes Payable, In Default [Member] | Notes Issued 10/04/13 [Member] | |||
Short-Term Debt [Line Items] | |||
Debt Instrument, Issuance Date | Oct. 04, 2013 | ||
Debt Instrument, Maturity Date | Apr. 04, 2014 | ||
Debt Instrument, Face Amount | $ 50,000 | ||
Debt Instrument, Face Amount | $ 50,000 | ||
Debt Instrument, Interest Rate, Stated Percentage | 6% | ||
Debt Instrument, Face Amount | $ 50,000 | 50,000 | |
Debt Instrument, Convertible, Conversion Price | $ 0.0125 | ||
Convertible Notes Payable, In Default [Member] | Notes Issued 05/15/14 [Member] | |||
Short-Term Debt [Line Items] | |||
Debt Instrument, Issuance Date | May 15, 2014 | ||
Debt Instrument, Maturity Date | Nov. 15, 2014 | ||
Debt Instrument, Face Amount | $ 40,000 | ||
Debt Instrument, Face Amount | $ 40,000 | ||
Debt Instrument, Interest Rate, Stated Percentage | 6% | ||
Debt Instrument, Face Amount | $ 40,000 | 40,000 | |
Debt Instrument, Convertible, Conversion Price | $ 0.0070 | ||
Convertible Notes Payable, In Default [Member] | Notes Issued 09/15/15 [Member] | |||
Short-Term Debt [Line Items] | |||
Debt Instrument, Issuance Date | Sep. 18, 2015 | ||
Debt Instrument, Maturity Date | Mar. 18, 2016 | ||
Debt Instrument, Face Amount | $ 25,000 | ||
Debt Instrument, Face Amount | $ 25,000 | ||
Debt Instrument, Interest Rate, Stated Percentage | 6% | ||
Debt Instrument, Face Amount | $ 25,000 | 25,000 | |
Debt Instrument, Convertible, Conversion Price | $ 0.0020 | ||
Convertible Notes Payable, In Default [Member] | Notes Issued 07/19/16 [Member] | |||
Short-Term Debt [Line Items] | |||
Debt Instrument, Issuance Date | Jul. 19, 2016 | ||
Debt Instrument, Maturity Date | Jul. 19, 2017 | ||
Debt Instrument, Face Amount | $ 4,000 | ||
Debt Instrument, Face Amount | $ 4,000 | ||
Debt Instrument, Interest Rate, Stated Percentage | 6% | ||
Debt Instrument, Face Amount | $ 4,000 | 4,000 | |
Debt Instrument, Convertible, Conversion Price | $ 0.0015 | ||
Convertible Notes Payable, In Default [Member] | Notes Issued 02/06/18 [Member] | |||
Short-Term Debt [Line Items] | |||
Debt Instrument, Issuance Date | Feb. 06, 2018 | ||
Debt Instrument, Maturity Date | Nov. 07, 2018 | ||
Debt Instrument, Face Amount | $ 6,000 | ||
Debt Instrument, Face Amount | $ 6,000 | ||
Debt Instrument, Interest Rate, Stated Percentage | 6% | ||
Debt Instrument, Face Amount | $ 6,000 | 6,000 | |
Debt Instrument, Convertible, Conversion Price | $ 0.0006 | ||
Convertible Notes Payable, In Default [Member] | Notes Issued 03/06/18 [Member] | |||
Short-Term Debt [Line Items] | |||
Debt Instrument, Issuance Date | Mar. 06, 2018 | ||
Debt Instrument, Maturity Date | Sep. 06, 2018 | ||
Debt Instrument, Face Amount | $ 6,000 | ||
Debt Instrument, Face Amount | $ 6,000 | ||
Debt Instrument, Interest Rate, Stated Percentage | 6% | ||
Debt Instrument, Face Amount | $ 6,000 | 6,000 | |
Debt Instrument, Convertible, Conversion Price | $ 0.0006 | ||
Convertible Notes Payable, In Default [Member] | Notes Issued 01/03/19 [Member] | |||
Short-Term Debt [Line Items] | |||
Debt Instrument, Issuance Date | Jan. 03, 2019 | ||
Debt Instrument, Maturity Date | Jul. 03, 2019 | ||
Debt Instrument, Face Amount | $ 1,000 | ||
Debt Instrument, Face Amount | $ 1,000 | ||
Debt Instrument, Interest Rate, Stated Percentage | 6% | ||
Debt Instrument, Face Amount | $ 1,000 | 1,000 | |
Debt Instrument, Convertible, Conversion Price | $ 0.0010 | ||
Convertible Notes Payable, In Default [Member] | Notes Issued 09/04/19 [Member] | |||
Short-Term Debt [Line Items] | |||
Debt Instrument, Issuance Date | Sep. 04, 2019 | ||
Debt Instrument, Maturity Date | Mar. 04, 2020 | ||
Debt Instrument, Face Amount | $ 25,000 | ||
Debt Instrument, Face Amount | $ 25,000 | ||
Debt Instrument, Interest Rate, Stated Percentage | 6% | ||
Debt Instrument, Face Amount | $ 25,000 | 25,000 | |
Debt Instrument, Convertible, Conversion Price | $ 0.0030 | ||
Convertible Notes Payable, In Default [Member] | Notes Issued 09/18/23 [Member] | |||
Short-Term Debt [Line Items] | |||
Debt Instrument, Issuance Date | Sep. 18, 2023 | ||
Debt Instrument, Maturity Date | Oct. 18, 2023 | ||
Debt Instrument, Face Amount | |||
Debt Instrument, Face Amount | $ 120,000 | ||
Debt Instrument, Interest Rate, Stated Percentage | 6% | ||
Debt Instrument, Face Amount | 120,000 | ||
Debt Instrument, Convertible, Conversion Price | $ 0.0020 | ||
Convertible Notes Payable - Related Parties, In Default [Member] | |||
Short-Term Debt [Line Items] | |||
Debt Instrument, Face Amount | $ 689,500 | ||
Debt Instrument, Face Amount | 689,500 | $ 789,500 | |
Convertible Notes Payable - Related Parties, In Default [Member] | Notes Issued 01/19/13 [Member] | |||
Short-Term Debt [Line Items] | |||
Debt Instrument, Issuance Date | Jan. 19, 2013 | ||
Debt Instrument, Maturity Date | Jul. 30, 2013 | ||
Debt Instrument, Face Amount | $ 15,000 | ||
Debt Instrument, Face Amount | $ 15,000 | ||
Debt Instrument, Interest Rate, Stated Percentage | 6% | ||
Debt Instrument, Face Amount | $ 15,000 | 15,000 | |
Debt Instrument, Convertible, Conversion Price | $ 0.000040 | ||
Convertible Notes Payable - Related Parties, In Default [Member] | Notes Issued 01/09/09 [Member] | |||
Short-Term Debt [Line Items] | |||
Debt Instrument, Issuance Date | Jan. 09, 2009 | ||
Debt Instrument, Maturity Date | Jan. 09, 2010 | ||
Debt Instrument, Face Amount | $ 10,000 | ||
Debt Instrument, Face Amount | $ 10,000 | ||
Debt Instrument, Interest Rate, Stated Percentage | 10% | ||
Debt Instrument, Face Amount | $ 10,000 | 10,000 | |
Debt Instrument, Convertible, Conversion Price | $ 0.000150 | ||
Convertible Notes Payable - Related Parties, In Default [Member] | Notes Issued 01/25/10 [Member] | |||
Short-Term Debt [Line Items] | |||
Debt Instrument, Issuance Date | Jan. 25, 2010 | ||
Debt Instrument, Maturity Date | Jan. 25, 2011 | ||
Debt Instrument, Face Amount | $ 6,000 | ||
Debt Instrument, Face Amount | $ 6,000 | ||
Debt Instrument, Interest Rate, Stated Percentage | 6% | ||
Debt Instrument, Face Amount | $ 6,000 | 6,000 | |
Debt Instrument, Convertible, Conversion Price | $ 0.000050 | ||
Convertible Notes Payable - Related Parties, In Default [Member] | Notes Issued 01/18/12 [Member] | |||
Short-Term Debt [Line Items] | |||
Debt Instrument, Issuance Date | Jan. 18, 2012 | ||
Debt Instrument, Maturity Date | Jul. 18, 2012 | ||
Debt Instrument, Face Amount | $ 50,000 | ||
Debt Instrument, Face Amount | $ 50,000 | ||
Debt Instrument, Interest Rate, Stated Percentage | 8% | ||
Debt Instrument, Face Amount | $ 50,000 | 50,000 | |
Debt Instrument, Convertible, Conversion Price | $ 0.000040 | ||
Convertible Notes Payable - Related Parties, In Default [Member] | Notes Issued 07/26/13 [Member] | |||
Short-Term Debt [Line Items] | |||
Debt Instrument, Issuance Date | Jul. 26, 2013 | ||
Debt Instrument, Maturity Date | Jan. 26, 2014 | ||
Debt Instrument, Face Amount | $ 10,000 | ||
Debt Instrument, Face Amount | $ 10,000 | ||
Debt Instrument, Interest Rate, Stated Percentage | 6% | ||
Debt Instrument, Face Amount | $ 10,000 | 10,000 | |
Debt Instrument, Convertible, Conversion Price | $ 0.000100 | ||
Convertible Notes Payable - Related Parties, In Default [Member] | Notes Issued 01/17/14 [Member] | |||
Short-Term Debt [Line Items] | |||
Debt Instrument, Issuance Date | Jan. 17, 2014 | ||
Debt Instrument, Maturity Date | Jul. 17, 2014 | ||
Debt Instrument, Face Amount | $ 31,500 | ||
Debt Instrument, Face Amount | $ 31,500 | ||
Debt Instrument, Interest Rate, Stated Percentage | 6% | ||
Debt Instrument, Face Amount | $ 31,500 | 31,500 | |
Debt Instrument, Convertible, Conversion Price | $ 0.000060 | ||
Convertible Notes Payable - Related Parties, In Default [Member] | Notes Issued 05/27/14 [Member] | |||
Short-Term Debt [Line Items] | |||
Debt Instrument, Issuance Date | May 27, 2014 | ||
Debt Instrument, Maturity Date | Nov. 27, 2014 | ||
Debt Instrument, Face Amount | $ 7,000 | ||
Debt Instrument, Face Amount | $ 7,000 | ||
Debt Instrument, Interest Rate, Stated Percentage | 6% | ||
Debt Instrument, Face Amount | $ 7,000 | 7,000 | |
Debt Instrument, Convertible, Conversion Price | $ 0.000070 | ||
Convertible Notes Payable - Related Parties, In Default [Member] | Notes Issued 07/21/14 [Member] | |||
Short-Term Debt [Line Items] | |||
Debt Instrument, Issuance Date | Jul. 21, 2014 | ||
Debt Instrument, Maturity Date | Jan. 25, 2015 | ||
Debt Instrument, Face Amount | $ 17,000 | ||
Debt Instrument, Face Amount | $ 17,000 | ||
Debt Instrument, Interest Rate, Stated Percentage | 6% | ||
Debt Instrument, Face Amount | $ 17,000 | 17,000 | |
Debt Instrument, Convertible, Conversion Price | $ 0.000080 | ||
Convertible Notes Payable - Related Parties, In Default [Member] | Notes Issued 10/16/14 [Member] | |||
Short-Term Debt [Line Items] | |||
Debt Instrument, Issuance Date | Oct. 16, 2014 | ||
Debt Instrument, Maturity Date | Apr. 16, 2015 | ||
Debt Instrument, Face Amount | $ 21,000 | ||
Debt Instrument, Face Amount | $ 21,000 | ||
Debt Instrument, Interest Rate, Stated Percentage | 6% | ||
Debt Instrument, Face Amount | $ 21,000 | 21,000 | |
Debt Instrument, Convertible, Conversion Price | $ 0.000045 | ||
Convertible Notes Payable - Related Parties, In Default [Member] | Notes Issued 07/14/15 [Member] | |||
Short-Term Debt [Line Items] | |||
Debt Instrument, Issuance Date | Jul. 14, 2015 | ||
Debt Instrument, Maturity Date | Jan. 14, 2016 | ||
Debt Instrument, Face Amount | $ 9,000 | ||
Debt Instrument, Face Amount | $ 9,000 | ||
Debt Instrument, Interest Rate, Stated Percentage | 6% | ||
Debt Instrument, Face Amount | $ 9,000 | 9,000 | |
Debt Instrument, Convertible, Conversion Price | $ 0.000030 | ||
Convertible Notes Payable - Related Parties, In Default [Member] | Notes Issued 01/12/16 [Member] | |||
Short-Term Debt [Line Items] | |||
Debt Instrument, Issuance Date | Jan. 12, 2016 | ||
Debt Instrument, Maturity Date | Jul. 12, 2016 | ||
Debt Instrument, Face Amount | $ 5,000 | ||
Debt Instrument, Face Amount | $ 5,000 | ||
Debt Instrument, Interest Rate, Stated Percentage | 6% | ||
Debt Instrument, Face Amount | $ 5,000 | 5,000 | |
Debt Instrument, Convertible, Conversion Price | $ 0.000020 | ||
Convertible Notes Payable - Related Parties, In Default [Member] | Notes Issued 05/10/16 [Member] | |||
Short-Term Debt [Line Items] | |||
Debt Instrument, Issuance Date | May 10, 2016 | ||
Debt Instrument, Maturity Date | Nov. 10, 2016 | ||
Debt Instrument, Face Amount | $ 5,000 | ||
Debt Instrument, Face Amount | $ 5,000 | ||
Debt Instrument, Interest Rate, Stated Percentage | 6% | ||
Debt Instrument, Face Amount | $ 5,000 | 5,000 | |
Debt Instrument, Convertible, Conversion Price | $ 0.000005 | ||
Convertible Notes Payable - Related Parties, In Default [Member] | Notes Issued 05/10/16 [Member] | |||
Short-Term Debt [Line Items] | |||
Debt Instrument, Issuance Date | May 10, 2016 | ||
Debt Instrument, Maturity Date | Nov. 10, 2016 | ||
Debt Instrument, Face Amount | $ 5,000 | ||
Debt Instrument, Face Amount | $ 5,000 | ||
Debt Instrument, Interest Rate, Stated Percentage | 6% | ||
Debt Instrument, Face Amount | $ 5,000 | 5,000 | |
Debt Instrument, Convertible, Conversion Price | $ 0.000005 | ||
Convertible Notes Payable - Related Parties, In Default [Member] | Notes Issued 05/20/16 [Member] | |||
Short-Term Debt [Line Items] | |||
Debt Instrument, Issuance Date | May 20, 2016 | ||
Debt Instrument, Maturity Date | Nov. 20, 2016 | ||
Debt Instrument, Face Amount | $ 5,000 | ||
Debt Instrument, Face Amount | $ 5,000 | ||
Debt Instrument, Interest Rate, Stated Percentage | 6% | ||
Debt Instrument, Face Amount | $ 5,000 | 5,000 | |
Debt Instrument, Convertible, Conversion Price | $ 0.000005 | ||
Convertible Notes Payable - Related Parties, In Default [Member] | Notes Issued 07/12/16 [Member] | |||
Short-Term Debt [Line Items] | |||
Debt Instrument, Issuance Date | Jul. 12, 2016 | ||
Debt Instrument, Maturity Date | Jan. 12, 2017 | ||
Debt Instrument, Face Amount | $ 2,400 | ||
Debt Instrument, Face Amount | $ 2,400 | ||
Debt Instrument, Interest Rate, Stated Percentage | 6% | ||
Debt Instrument, Face Amount | $ 2,400 | 2,400 | |
Debt Instrument, Convertible, Conversion Price | $ 0.000006 | ||
Convertible Notes Payable - Related Parties, In Default [Member] | Notes Issued 01/26/17 [Member] | |||
Short-Term Debt [Line Items] | |||
Debt Instrument, Issuance Date | Jan. 26, 2017 | ||
Debt Instrument, Maturity Date | Mar. 12, 2017 | ||
Debt Instrument, Face Amount | $ 5,000 | ||
Debt Instrument, Face Amount | $ 5,000 | ||
Debt Instrument, Interest Rate, Stated Percentage | 6% | ||
Debt Instrument, Face Amount | $ 5,000 | 5,000 | |
Debt Instrument, Convertible, Conversion Price | $ 0.000005 | ||
Convertible Notes Payable - Related Parties, In Default [Member] | Notes Issued 02/14/17 [Member] | |||
Short-Term Debt [Line Items] | |||
Debt Instrument, Issuance Date | Feb. 14, 2017 | ||
Debt Instrument, Maturity Date | Aug. 14, 2017 | ||
Debt Instrument, Face Amount | $ 25,000 | ||
Debt Instrument, Face Amount | $ 25,000 | ||
Debt Instrument, Interest Rate, Stated Percentage | 6% | ||
Debt Instrument, Face Amount | $ 25,000 | 25,000 | |
Debt Instrument, Convertible, Conversion Price | $ 0.000008 | ||
Convertible Notes Payable - Related Parties, In Default [Member] | Notes Issued 08/16/17 [Member] | |||
Short-Term Debt [Line Items] | |||
Debt Instrument, Issuance Date | Aug. 16, 2017 | ||
Debt Instrument, Maturity Date | Sep. 16, 2017 | ||
Debt Instrument, Face Amount | $ 3,000 | ||
Debt Instrument, Face Amount | $ 3,000 | ||
Debt Instrument, Interest Rate, Stated Percentage | 6% | ||
Debt Instrument, Face Amount | $ 3,000 | 3,000 | |
Debt Instrument, Convertible, Conversion Price | $ 0.000008 | ||
Convertible Notes Payable - Related Parties, In Default [Member] | Notes Issued 01/09/18 [Member] | |||
Short-Term Debt [Line Items] | |||
Debt Instrument, Issuance Date | Jan. 09, 2018 | ||
Debt Instrument, Maturity Date | Jan. 09, 2019 | ||
Debt Instrument, Face Amount | $ 12,000 | ||
Debt Instrument, Face Amount | $ 12,000 | ||
Debt Instrument, Interest Rate, Stated Percentage | 6% | ||
Debt Instrument, Face Amount | $ 12,000 | 12,000 | |
Debt Instrument, Convertible, Conversion Price | $ 0.000006 | ||
Convertible Notes Payable - Related Parties, In Default [Member] | Notes Issued 03/14/18 [Member] | |||
Short-Term Debt [Line Items] | |||
Debt Instrument, Issuance Date | Mar. 14, 2018 | ||
Debt Instrument, Maturity Date | May 14, 2018 | ||
Debt Instrument, Face Amount | $ 25,000 | ||
Debt Instrument, Face Amount | $ 25,000 | ||
Debt Instrument, Interest Rate, Stated Percentage | 6% | ||
Debt Instrument, Face Amount | $ 25,000 | 25,000 | |
Debt Instrument, Convertible, Conversion Price | $ 0.000007 | ||
Convertible Notes Payable - Related Parties, In Default [Member] | Notes Issued 04/04/18 [Member] | |||
Short-Term Debt [Line Items] | |||
Debt Instrument, Issuance Date | Apr. 04, 2018 | ||
Debt Instrument, Maturity Date | Jun. 04, 2018 | ||
Debt Instrument, Face Amount | $ 3,000 | ||
Debt Instrument, Face Amount | $ 3,000 | ||
Debt Instrument, Interest Rate, Stated Percentage | 6% | ||
Debt Instrument, Face Amount | $ 3,000 | 3,000 | |
Debt Instrument, Convertible, Conversion Price | $ 0.000007 | ||
Convertible Notes Payable - Related Parties, In Default [Member] | Notes Issued 04/11/18 [Member] | |||
Short-Term Debt [Line Items] | |||
Debt Instrument, Issuance Date | Apr. 11, 2018 | ||
Debt Instrument, Maturity Date | Jun. 11, 2018 | ||
Debt Instrument, Face Amount | $ 25,000 | ||
Debt Instrument, Face Amount | $ 25,000 | ||
Debt Instrument, Interest Rate, Stated Percentage | 6% | ||
Debt Instrument, Face Amount | $ 25,000 | 25,000 | |
Debt Instrument, Convertible, Conversion Price | $ 0.000007 | ||
Convertible Notes Payable - Related Parties, In Default [Member] | Notes Issued 05/08/18 [Member] | |||
Short-Term Debt [Line Items] | |||
Debt Instrument, Issuance Date | May 08, 2018 | ||
Debt Instrument, Maturity Date | Jul. 08, 2018 | ||
Debt Instrument, Face Amount | $ 25,000 | ||
Debt Instrument, Face Amount | $ 25,000 | ||
Debt Instrument, Interest Rate, Stated Percentage | 6% | ||
Debt Instrument, Face Amount | $ 25,000 | 25,000 | |
Debt Instrument, Convertible, Conversion Price | $ 0.000007 | ||
Convertible Notes Payable - Related Parties, In Default [Member] | Notes Issued 05/30/18 [Member] | |||
Short-Term Debt [Line Items] | |||
Debt Instrument, Issuance Date | May 30, 2018 | ||
Debt Instrument, Maturity Date | Aug. 30, 2018 | ||
Debt Instrument, Face Amount | $ 25,000 | ||
Debt Instrument, Face Amount | $ 25,000 | ||
Debt Instrument, Interest Rate, Stated Percentage | 6% | ||
Debt Instrument, Face Amount | $ 25,000 | 25,000 | |
Debt Instrument, Convertible, Conversion Price | $ 0.000007 | ||
Convertible Notes Payable - Related Parties, In Default [Member] | Notes Issued 06/12/18 [Member] | |||
Short-Term Debt [Line Items] | |||
Debt Instrument, Issuance Date | Jun. 12, 2018 | ||
Debt Instrument, Maturity Date | Sep. 12, 2018 | ||
Debt Instrument, Face Amount | $ 3,000 | ||
Debt Instrument, Face Amount | $ 3,000 | ||
Debt Instrument, Interest Rate, Stated Percentage | 6% | ||
Debt Instrument, Face Amount | $ 3,000 | 3,000 | |
Debt Instrument, Convertible, Conversion Price | $ 0.000007 | ||
Convertible Notes Payable - Related Parties, In Default [Member] | Notes Issued 06/20/18 [Member] | |||
Short-Term Debt [Line Items] | |||
Debt Instrument, Issuance Date | Jun. 20, 2018 | ||
Debt Instrument, Maturity Date | Sep. 12, 2018 | ||
Debt Instrument, Face Amount | $ 500 | ||
Debt Instrument, Face Amount | $ 500 | ||
Debt Instrument, Interest Rate, Stated Percentage | 6% | ||
Debt Instrument, Face Amount | $ 500 | 500 | |
Debt Instrument, Convertible, Conversion Price | $ 0.000007 | ||
Convertible Notes Payable - Related Parties, In Default [Member] | Notes Issued 08/27/18 [Member] | |||
Short-Term Debt [Line Items] | |||
Debt Instrument, Issuance Date | Aug. 27, 2018 | ||
Debt Instrument, Maturity Date | Feb. 27, 2019 | ||
Debt Instrument, Face Amount | $ 2,000 | ||
Debt Instrument, Face Amount | $ 2,000 | ||
Debt Instrument, Interest Rate, Stated Percentage | 6% | ||
Debt Instrument, Face Amount | $ 2,000 | 2,000 | |
Debt Instrument, Convertible, Conversion Price | $ 0.000007 | ||
Convertible Notes Payable - Related Parties, In Default [Member] | Notes Issued 10/02/18 [Member] | |||
Short-Term Debt [Line Items] | |||
Debt Instrument, Issuance Date | Oct. 02, 2018 | ||
Debt Instrument, Maturity Date | Apr. 02, 2019 | ||
Debt Instrument, Face Amount | $ 1,000 | ||
Debt Instrument, Face Amount | $ 1,000 | ||
Debt Instrument, Interest Rate, Stated Percentage | 6% | ||
Debt Instrument, Face Amount | $ 1,000 | 1,000 | |
Debt Instrument, Convertible, Conversion Price | $ 0.000008 | ||
Convertible Notes Payable - Related Parties, In Default [Member] | Notes Issued 10/23/18 [Member] | |||
Short-Term Debt [Line Items] | |||
Debt Instrument, Issuance Date | Oct. 23, 2018 | ||
Debt Instrument, Maturity Date | Apr. 23, 2019 | ||
Debt Instrument, Face Amount | $ 4,200 | ||
Debt Instrument, Face Amount | $ 4,200 | ||
Debt Instrument, Interest Rate, Stated Percentage | 6% | ||
Debt Instrument, Face Amount | $ 4,200 | 4,200 | |
Debt Instrument, Convertible, Conversion Price | $ 0.000007 | ||
Convertible Notes Payable - Related Parties, In Default [Member] | Notes Issued 11/07/18 [Member] | |||
Short-Term Debt [Line Items] | |||
Debt Instrument, Issuance Date | Nov. 07, 2018 | ||
Debt Instrument, Maturity Date | May 07, 2019 | ||
Debt Instrument, Face Amount | $ 2,000 | ||
Debt Instrument, Face Amount | $ 2,000 | ||
Debt Instrument, Interest Rate, Stated Percentage | 6% | ||
Debt Instrument, Face Amount | $ 2,000 | 2,000 | |
Debt Instrument, Convertible, Conversion Price | $ 0.000008 | ||
Convertible Notes Payable - Related Parties, In Default [Member] | Notes Issued 11/14/18 [Member] | |||
Short-Term Debt [Line Items] | |||
Debt Instrument, Issuance Date | Nov. 14, 2018 | ||
Debt Instrument, Maturity Date | May 14, 2019 | ||
Debt Instrument, Face Amount | $ 8,000 | ||
Debt Instrument, Face Amount | $ 8,000 | ||
Debt Instrument, Interest Rate, Stated Percentage | 6% | ||
Debt Instrument, Face Amount | $ 8,000 | 8,000 | |
Debt Instrument, Convertible, Conversion Price | $ 0.000008 | ||
Convertible Notes Payable - Related Parties, In Default [Member] | Notes Issued 01/08/19 [Member] | |||
Short-Term Debt [Line Items] | |||
Debt Instrument, Issuance Date | Jan. 08, 2019 | ||
Debt Instrument, Maturity Date | Jul. 08, 2019 | ||
Debt Instrument, Face Amount | $ 7,000 | ||
Debt Instrument, Face Amount | $ 7,000 | ||
Debt Instrument, Interest Rate, Stated Percentage | 6% | ||
Debt Instrument, Face Amount | $ 7,000 | 7,000 | |
Debt Instrument, Convertible, Conversion Price | $ 0.000008 | ||
Convertible Notes Payable - Related Parties, In Default [Member] | Notes Issued 04/25/19 [Member] | |||
Short-Term Debt [Line Items] | |||
Debt Instrument, Issuance Date | Apr. 25, 2019 | ||
Debt Instrument, Maturity Date | Dec. 23, 2019 | ||
Debt Instrument, Face Amount | $ 20,000 | ||
Debt Instrument, Face Amount | $ 20,000 | ||
Debt Instrument, Interest Rate, Stated Percentage | 6% | ||
Debt Instrument, Face Amount | $ 20,000 | 20,000 | |
Debt Instrument, Convertible, Conversion Price | $ 0.000040 | ||
Convertible Notes Payable - Related Parties, In Default [Member] | Notes Issued 06/07/19 [Member] | |||
Short-Term Debt [Line Items] | |||
Debt Instrument, Issuance Date | Jun. 07, 2019 | ||
Debt Instrument, Maturity Date | Dec. 07, 2019 | ||
Debt Instrument, Face Amount | $ 5,100 | ||
Debt Instrument, Face Amount | $ 5,100 | ||
Debt Instrument, Interest Rate, Stated Percentage | 6% | ||
Debt Instrument, Face Amount | $ 5,100 | 5,100 | |
Debt Instrument, Convertible, Conversion Price | $ 0.000030 | ||
Convertible Notes Payable - Related Parties, In Default [Member] | Notes Issued 09/17/19 [Member] | |||
Short-Term Debt [Line Items] | |||
Debt Instrument, Issuance Date | Sep. 17, 2019 | ||
Debt Instrument, Maturity Date | Apr. 17, 2020 | ||
Debt Instrument, Face Amount | $ 12,000 | ||
Debt Instrument, Face Amount | $ 12,000 | ||
Debt Instrument, Interest Rate, Stated Percentage | 6% | ||
Debt Instrument, Face Amount | $ 12,000 | 12,000 | |
Debt Instrument, Convertible, Conversion Price | $ 0.000030 | ||
Convertible Notes Payable - Related Parties, In Default [Member] | Notes Issued 11/12/19 [Member] | |||
Short-Term Debt [Line Items] | |||
Debt Instrument, Issuance Date | Nov. 12, 2019 | ||
Debt Instrument, Maturity Date | May 12, 2020 | ||
Debt Instrument, Face Amount | $ 25,000 | ||
Debt Instrument, Face Amount | $ 25,000 | ||
Debt Instrument, Interest Rate, Stated Percentage | 6% | ||
Debt Instrument, Face Amount | $ 25,000 | 25,000 | |
Debt Instrument, Convertible, Conversion Price | $ 0.000025 | ||
Convertible Notes Payable - Related Parties, In Default [Member] | Notes Issued 11/26/19 [Member] | |||
Short-Term Debt [Line Items] | |||
Debt Instrument, Issuance Date | Nov. 26, 2019 | ||
Debt Instrument, Maturity Date | May 26, 2020 | ||
Debt Instrument, Face Amount | $ 25,200 | ||
Debt Instrument, Face Amount | $ 25,200 | ||
Debt Instrument, Interest Rate, Stated Percentage | 6% | ||
Debt Instrument, Face Amount | $ 25,200 | 25,200 | |
Debt Instrument, Convertible, Conversion Price | $ 0.000030 | ||
Convertible Notes Payable - Related Parties, In Default [Member] | Notes Issued 12/03/19 [Member] | |||
Short-Term Debt [Line Items] | |||
Debt Instrument, Issuance Date | Dec. 03, 2019 | ||
Debt Instrument, Maturity Date | Jun. 03, 2020 | ||
Debt Instrument, Face Amount | $ 15,000 | ||
Debt Instrument, Face Amount | $ 15,000 | ||
Debt Instrument, Interest Rate, Stated Percentage | 6% | ||
Debt Instrument, Face Amount | $ 15,000 | 15,000 | |
Debt Instrument, Convertible, Conversion Price | $ 0.000030 | ||
Convertible Notes Payable - Related Parties, In Default [Member] | Notes Issued 01/07/20 [Member] | |||
Short-Term Debt [Line Items] | |||
Debt Instrument, Issuance Date | Jan. 07, 2020 | ||
Debt Instrument, Maturity Date | Jun. 20, 2020 | ||
Debt Instrument, Face Amount | $ 51,000 | ||
Debt Instrument, Face Amount | $ 51,000 | ||
Debt Instrument, Interest Rate, Stated Percentage | 6% | ||
Debt Instrument, Face Amount | $ 51,000 | 51,000 | |
Debt Instrument, Convertible, Conversion Price | $ 0.000030 | ||
Convertible Notes Payable - Related Parties, In Default [Member] | Notes Issued 08/06/20 [Member] | |||
Short-Term Debt [Line Items] | |||
Debt Instrument, Issuance Date | Aug. 06, 2020 | ||
Debt Instrument, Maturity Date | Feb. 06, 2021 | ||
Debt Instrument, Face Amount | $ 25,200 | ||
Debt Instrument, Face Amount | $ 25,200 | ||
Debt Instrument, Interest Rate, Stated Percentage | 6% | ||
Debt Instrument, Face Amount | $ 25,200 | 25,200 | |
Debt Instrument, Convertible, Conversion Price | $ 0.000035 | ||
Convertible Notes Payable - Related Parties, In Default [Member] | Notes Issued 08/04/22 [Member] | |||
Short-Term Debt [Line Items] | |||
Debt Instrument, Issuance Date | Aug. 06, 2020 | ||
Debt Instrument, Maturity Date | Feb. 06, 2021 | ||
Debt Instrument, Face Amount | $ 35,000 | ||
Debt Instrument, Face Amount | $ 35,000 | ||
Debt Instrument, Interest Rate, Stated Percentage | 6% | ||
Debt Instrument, Face Amount | $ 35,000 | 35,000 | |
Debt Instrument, Convertible, Conversion Price | $ 0.000035 | ||
Convertible Notes Payable - Related Parties, In Default [Member] | Notes Issued 08/14/20 [Member] | |||
Short-Term Debt [Line Items] | |||
Debt Instrument, Issuance Date | Aug. 14, 2020 | ||
Debt Instrument, Maturity Date | Feb. 14, 2021 | ||
Debt Instrument, Face Amount | $ 50,400 | ||
Debt Instrument, Face Amount | $ 50,400 | ||
Debt Instrument, Interest Rate, Stated Percentage | 6% | ||
Debt Instrument, Face Amount | $ 50,400 | 50,400 | |
Debt Instrument, Convertible, Conversion Price | $ 0.000035 | ||
Convertible Notes Payable - Related Parties, In Default [Member] | Notes Issued 10/31/21 [Member] | |||
Short-Term Debt [Line Items] | |||
Debt Instrument, Issuance Date | Oct. 31, 2021 | ||
Debt Instrument, Maturity Date | Apr. 13, 2022 | ||
Debt Instrument, Face Amount | $ 3,000 | ||
Debt Instrument, Face Amount | $ 3,000 | ||
Debt Instrument, Interest Rate, Stated Percentage | 2% | ||
Debt Instrument, Face Amount | $ 3,000 | 3,000 | |
Debt Instrument, Convertible, Conversion Price | $ 0.000020 | ||
Convertible Notes Payable - Related Parties, In Default [Member] | Notes Issued 11/10/21 [Member] | |||
Short-Term Debt [Line Items] | |||
Debt Instrument, Issuance Date | Nov. 10, 2021 | ||
Debt Instrument, Maturity Date | May 10, 2022 | ||
Debt Instrument, Face Amount | $ 3,000 | ||
Debt Instrument, Face Amount | $ 3,000 | ||
Debt Instrument, Interest Rate, Stated Percentage | 2% | ||
Debt Instrument, Face Amount | $ 3,000 | 3,000 | |
Debt Instrument, Convertible, Conversion Price | $ 0.000020 | ||
Convertible Notes Payable - Related Parties, In Default [Member] | Notes Issued 07/06/22 [Member] | |||
Short-Term Debt [Line Items] | |||
Debt Instrument, Issuance Date | Jul. 06, 2022 | ||
Debt Instrument, Maturity Date | Jan. 06, 2023 | ||
Debt Instrument, Face Amount | $ 20,000 | ||
Debt Instrument, Face Amount | $ 20,000 | ||
Debt Instrument, Interest Rate, Stated Percentage | 6% | ||
Debt Instrument, Face Amount | $ 20,000 | 20,000 | |
Debt Instrument, Convertible, Conversion Price | $ 0.000015 | ||
Convertible Notes Payable - Related Parties, In Default [Member] | Notes Issued 07/29/22 [Member] | |||
Short-Term Debt [Line Items] | |||
Debt Instrument, Issuance Date | Jul. 29, 2022 | ||
Debt Instrument, Maturity Date | Jan. 28, 2023 | ||
Debt Instrument, Face Amount | $ 10,000 | ||
Debt Instrument, Face Amount | $ 10,000 | ||
Debt Instrument, Interest Rate, Stated Percentage | 6% | ||
Debt Instrument, Face Amount | $ 10,000 | 10,000 | |
Debt Instrument, Convertible, Conversion Price | $ 0.000020 | ||
Convertible Notes Payable - Related Parties, In Default [Member] | Notes Issued 08/04/22 [Member] | |||
Short-Term Debt [Line Items] | |||
Debt Instrument, Issuance Date | Aug. 04, 2022 | ||
Debt Instrument, Maturity Date | Feb. 04, 2023 | ||
Debt Instrument, Face Amount | $ 10,000 | ||
Debt Instrument, Face Amount | $ 10,000 | ||
Debt Instrument, Interest Rate, Stated Percentage | 6% | ||
Debt Instrument, Face Amount | $ 10,000 | 10,000 | |
Debt Instrument, Convertible, Conversion Price | $ 0.000020 | ||
Convertible Notes Payable - Related Parties, In Default [Member] | Notes Issued 07/24/24 [Member] | |||
Short-Term Debt [Line Items] | |||
Debt Instrument, Issuance Date | Jul. 24, 2023 | ||
Debt Instrument, Maturity Date | Sep. 24, 2023 | ||
Debt Instrument, Face Amount | $ 5,000 | ||
Debt Instrument, Face Amount | $ 5,000 | ||
Debt Instrument, Interest Rate, Stated Percentage | 1% | ||
Debt Instrument, Face Amount | $ 5,000 | 5,000 | |
Debt Instrument, Convertible, Conversion Price | $ 0.0000175 | ||
Convertible Notes Payable - Related Parties, In Default [Member] | Notes Issued 08/02/23 [Member] | |||
Short-Term Debt [Line Items] | |||
Debt Instrument, Issuance Date | Aug. 02, 2023 | ||
Debt Instrument, Maturity Date | Oct. 01, 2023 | ||
Debt Instrument, Face Amount | |||
Debt Instrument, Face Amount | $ 100,000 | ||
Debt Instrument, Interest Rate, Stated Percentage | 6% | ||
Debt Instrument, Face Amount | $ 100,000 | ||
Debt Instrument, Convertible, Conversion Price | $ 0.000020 |
CONVERTIBLE NOTES PAYABLE AND_4
CONVERTIBLE NOTES PAYABLE AND NOTES PAYABLE (Details 2) - USD ($) | 6 Months Ended | ||
Jun. 30, 2024 | Dec. 31, 2023 | Jun. 30, 2023 | |
Short-Term Debt [Line Items] | |||
Notes Payable, Discount | $ (40,202) | $ (95,214) | |
Notes Payable, Current | 959,798 | 404,786 | |
Notes Payable | 1,090,298 | 535,286 | |
Notes Payable [Member] | |||
Short-Term Debt [Line Items] | |||
Debt Instrument, Face Amount | 1,000,000 | ||
Debt Instrument, Face Amount | 500,000 | ||
Debt Instrument, Face Amount | 1,000,000 | 500,000 | |
Notes Payable, Current | $ 959,798 | $ 404,786 | |
Notes Payable [Member] | Notes Issued 12/02/21 [Member] | |||
Short-Term Debt [Line Items] | |||
Debt Instrument, Issuance Date | Nov. 10, 2023 | ||
Debt Instrument, Maturity Date | Nov. 10, 2024 | ||
Debt Instrument, Face Amount | $ 500,000 | ||
Debt Instrument, Face Amount | $ 500,000 | ||
Debt Instrument, Interest Rate, Stated Percentage | 6% | ||
Debt Instrument, Face Amount | $ 500,000 | 500,000 | |
Notes Payable [Member] | Notes Issued 02/28/24 [Member] | |||
Short-Term Debt [Line Items] | |||
Debt Instrument, Issuance Date | Feb. 28, 2024 | ||
Debt Instrument, Maturity Date | Feb. 28, 2025 | ||
Debt Instrument, Face Amount | $ 350,000 | ||
Debt Instrument, Face Amount | |||
Debt Instrument, Interest Rate, Stated Percentage | 6% | ||
Debt Instrument, Face Amount | $ 350,000 | ||
Notes Payable [Member] | Notes Issued 040124 [Member] | |||
Short-Term Debt [Line Items] | |||
Debt Instrument, Issuance Date | Apr. 01, 2024 | ||
Debt Instrument, Maturity Date | Apr. 01, 2025 | ||
Debt Instrument, Face Amount | $ 150,000 | ||
Debt Instrument, Face Amount | |||
Debt Instrument, Interest Rate, Stated Percentage | 6% | ||
Debt Instrument, Face Amount | $ 150,000 | ||
Notes Payable, In Default [Member] | |||
Short-Term Debt [Line Items] | |||
Debt Instrument, Face Amount | 112,000 | ||
Debt Instrument, Face Amount | $ 112,000 | $ 112,000 | |
Notes Payable, In Default [Member] | Notes Issued 04/27/11 [Member] | |||
Short-Term Debt [Line Items] | |||
Debt Instrument, Issuance Date | Apr. 27, 2011 | ||
Debt Instrument, Maturity Date | Apr. 27, 2012 | ||
Debt Instrument, Face Amount | $ 5,000 | ||
Debt Instrument, Face Amount | $ 5,000 | ||
Debt Instrument, Interest Rate, Stated Percentage | 6% | ||
Debt Instrument, Face Amount | $ 5,000 | 5,000 | |
Notes Payable, In Default [Member] | Notes Issued 12/14/17 [Member] | |||
Short-Term Debt [Line Items] | |||
Debt Instrument, Issuance Date | Dec. 14, 2017 | ||
Debt Instrument, Maturity Date | Dec. 14, 2018 | ||
Debt Instrument, Face Amount | $ 2,000 | ||
Debt Instrument, Face Amount | $ 2,000 | ||
Debt Instrument, Interest Rate, Stated Percentage | 6% | ||
Debt Instrument, Face Amount | $ 2,000 | 2,000 | |
Notes Payable, In Default [Member] | Notes Issued 11/29/17 [Member] | |||
Short-Term Debt [Line Items] | |||
Debt Instrument, Issuance Date | Nov. 29, 2017 | ||
Debt Instrument, Maturity Date | Nov. 29, 2019 | ||
Debt Instrument, Face Amount | $ 105,000 | ||
Debt Instrument, Face Amount | $ 105,000 | ||
Debt Instrument, Interest Rate, Stated Percentage | 2.06% | ||
Debt Instrument, Face Amount | $ 105,000 | 105,000 | |
Notes Payable - Related Parties, In Default [Member] | |||
Short-Term Debt [Line Items] | |||
Debt Instrument, Face Amount | 18,500 | ||
Debt Instrument, Face Amount | $ 18,500 | ||
Notes Payable - Related Parties, In Default [Member] | Notes Issued 02/24/10 [Member] | |||
Short-Term Debt [Line Items] | |||
Debt Instrument, Issuance Date | Feb. 24, 2010 | ||
Debt Instrument, Maturity Date | Feb. 24, 2011 | ||
Debt Instrument, Face Amount | $ 7,500 | ||
Debt Instrument, Face Amount | $ 7,500 | ||
Debt Instrument, Interest Rate, Stated Percentage | 6% | ||
Debt Instrument, Face Amount | $ 7,500 | 7,500 | |
Notes Payable - Related Parties, In Default [Member] | Notes Issued 10/06/15 [Member] | |||
Short-Term Debt [Line Items] | |||
Debt Instrument, Issuance Date | Oct. 06, 2015 | ||
Debt Instrument, Maturity Date | Nov. 15, 2015 | ||
Debt Instrument, Face Amount | $ 10,000 | ||
Debt Instrument, Face Amount | $ 10,000 | ||
Debt Instrument, Interest Rate, Stated Percentage | 6% | ||
Debt Instrument, Face Amount | $ 10,000 | 10,000 | |
Notes Payable - Related Parties, In Default [Member] | Notes Issued 02/08/18 [Member] | |||
Short-Term Debt [Line Items] | |||
Debt Instrument, Issuance Date | Feb. 08, 2018 | ||
Debt Instrument, Maturity Date | Apr. 09, 2018 | ||
Debt Instrument, Face Amount | $ 1,000 | ||
Debt Instrument, Face Amount | $ 1,000 | ||
Debt Instrument, Interest Rate, Stated Percentage | 6% | ||
Debt Instrument, Face Amount | $ 1,000 | $ 1,000 |
STOCKHOLDERS_ DEFICIT (Details
STOCKHOLDERS’ DEFICIT (Details Narrative) - $ / shares | Jun. 30, 2024 | Dec. 31, 2023 |
Class of Stock [Line Items] | ||
Common Stock, Shares Authorized | 9,900,000,000 | 9,900,000,000 |
Common Stock, Par or Stated Value Per Share | $ 0.0001 | $ 0.0001 |
Preferred Stock, Shares Authorized | 50,000,000 | 50,000,000 |
Preferred Stock, Shares Issued | 67 | 67 |
Series A Preferred Stock [Member] | ||
Class of Stock [Line Items] | ||
Preferred Stock, Shares Issued | 7 | 7 |
Preferred Stock, Shares Outstanding | 7 | 7 |
SEGMENT INFORMATION (Details)
SEGMENT INFORMATION (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Service revenues | $ 590 | $ 3,170 | $ 590 | |
Total operating expenses | 823,108 | 575,861 | 1,924,444 | 1,550,242 |
Net loss from operations | $ (823,108) | $ (575,271) | (1,921,274) | (1,549,652) |
Subsidiaries [Member] | ||||
Service revenues | ||||
Total operating expenses | ||||
Net loss from operations | ||||
Parent Company [Member] | ||||
Service revenues | 3,170 | 590 | ||
Total operating expenses | 1,924,444 | 1,550,242 | ||
Net loss from operations | $ (1,921,274) | $ (1,549,652) |
SUBSEQUENT EVENTS (Details Narr
SUBSEQUENT EVENTS (Details Narrative) - Common Stock to Be Issued [Member] - shares | 1 Months Ended | 3 Months Ended | |
Jul. 31, 2024 | Jun. 30, 2023 | Mar. 31, 2023 | |
Subsequent Event [Line Items] | |||
Stock Issued During Period, Shares, Issued for Services | 3,342,954 | (3,015,276) | |
Subsequent Event [Member] | Restricted Stock [Member] | |||
Subsequent Event [Line Items] | |||
Stock Issued During Period, Shares, Issued for Services | 1,483,334 |