Arvana (AVNI) 10-Q 20 May 20 2020 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2020	May 20, 2020
Document and Entity Information:
Entity Registrant Name	ARVANA INC
Document Type	10-Q
Document Period End Date	Mar. 31, 2020
Amendment Flag	false
Entity Central Index Key	0001113313
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		2,005,070
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Current Reporting Status	Yes
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Entity Shell Company?	true

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($)	Mar. 31, 2020	Dec. 31, 2019
Current assets:
Cash	$ 19,464	$ 2,346
Total assets	19,464	2,346
Current liabilities
Accounts payable and accrued liabilities	930,710	974,013
Convertible loan	107,800	107,800
Loans payable to stockholders (Note 3)	546,234	581,379
Loans payable to related party (Note 3)	128,455	130,249
Loans payable (Note 3)	73,859	84,509
Amounts due to related parties (Note 7)	326,559	338,109
Total current liabilities	2,113,617	2,216,059
Stockholders' deficiency
Common stock, $0.001 par value 5,000,000 authorized, 2,005,070 and 1,034,030 shares issued and outstanding at March 31, 2020 and December 31, 2019, respectively	2,005	1,034
Additional paid-in capital	21,379,650	21,283,517
Deficit	(23,472,472)	(23,494,928)
Total Stockholders Deficit Before Treasury Stock	(2,090,817)	(2,210,377)
Less: Treasury stock – 2,085 common shares at March 31, 2020 and December 31, 2019, respectively	(3,336)	(3,336)
Total stockholders' deficiency	(2,094,153)	(2,213,713)
Total liabilities and stockholders' deficit	$ 19,464	$ 2,346

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Mar. 31, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Common stock par value	$ 0.001	$ 0.001
Common stock shares authorized	5,000,000	5,000,000
Common stock shares issued	2,005,070	1,034,030
Common stock outstanding	2,005,070	1,034,030
Treasury stock	2,085	2,085

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Operating expenses
General and administrative	$ 11,702	$ 2,606
Professional fees	11,736	4,719
Total operating expenses	23,438	7,325
Loss from operations	(23,438)	(7,325)
Interest expense	(12,996)	(29,773)
Foreign exchange gain (loss)	58,890	(1,772)
Net income (loss) and comprehensive income (loss)	$ 22,456	$ (38,870)
Per common share information - basic and diluted:
Weighted average shares outstanding	1,087,384	1,034,030
Net loss per common share - basic and diluted	$ 0.02	$ (0.04)

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Cash flows from operating activities
Net loss	$ 22,456	$ (38,870)
Item not involving cash:
Amortization of discount on convertible loan		14,450
Interest expense	12,996	29,773
Unrealized foreign exchange	(58,620)	1,772
Changes in non-cash working capital:
Accounts payable and accrued liabilities	13,359	2,306
Amounts due to related parties	1,927	(399)
Net cash used in operations	(7,882)	(5,418)
Cash flows from investing activities
Net cash used in investing activities
Cash flows from financing activities
Proceeds of loans payable	25,000	5,600
Net cash provided by financing activities	25,000	5,600
Change in cash	17,118	182
Cash, beginning of period	2,346	815
Cash, end of period	19,464	997
Supplementary information
Cash paid for interest
Cash paid for income taxes
Non-cash operating activities (Note 3)	37,104
Non-cash financing activities (Note 3)	60,000
Non-cash investing activities

Statements of Stockholders' Equ

Statements of Stockholders' Equity (Deficiency) (Unaudited) - USD ($)	Common Stock	Additional Paid-In Capital	Deficit	Treasury Stock	Total
Beginning Balance, Shares at Dec. 31, 2018	1,034,030			(2,085)
Beginning Balance, Value at Dec. 31, 2018	$ 1,034	$ 21,283,517	$ (23,607,180)	$ (3,336)	$ (2,325,965)
Net Loss			(38,870)		(38,870)
Ending Balance, Shares at Mar. 31, 2019	1,034,030			(2,085)
Ending Balance, Value at Mar. 31, 2019	$ 1,034	21,283,517	(23,646,050)	$ (3,336)	(2,364,835)
Beginning Balance, Shares at Dec. 31, 2019	1,034,030			(2,085)
Beginning Balance, Value at Dec. 31, 2019	$ 1,034	$ 21,283,517	(23,494,928)	$ (3,336)	$ (2,213,713)
Debt settlement, shares	$ 971,040
Debt settlement, value	971	96,133			97,104
Net Loss			22,456		$ 22,456
Ending Balance, Shares at Mar. 31, 2020	2,005,070			(2,085)
Ending Balance, Value at Mar. 31, 2020	$ 2,005	$ 21,379,650	$ (23,472,472)	$ (3,336)	$ (2,094,153)

Note 1_ Nature of Business and

Note 1: Nature of Business and Ability To Continue As A Going Concern	3 Months Ended
	Mar. 31, 2020
Disclosure Text Block [Abstract]
Note 1. Nature of Business and Ability To Continue As A Going Concern	1. Nature of Business and Ability to Continue as a Going Concern Arvana Inc. (“our”, “we”, “us” and the “Company”) was incorporated under the laws of the State of Nevada as Turinco, Inc. on September 16, 1977. On July 24, 2006, the shareholders approved a change of the Company’s name from Turinco, Inc. to Arvana Inc. The reporting currency and functional currency of the Company is the United States dollar (“US Dollar”) and the accompanying financial statements have been expressed in US Dollars. On March 17, 2016, the Company entered into a non-binding Memorandum of Understanding (“MOU”) with CaiE Food Partnership Ltd. (“CaiE”) for the purpose of acquiring CaiE as a wholly-owned subsidiary. CaiE is in the business of manufacturing and distributing fresh Dim Sum food products from a facility based in Sparks, Nevada. In the event that the Company does not complete the acquisition of CaiE, its intention will be to identify and evaluate alternative business opportunities that might be a good match for the Company. These condensed interim financial statements have been prepared on a going concern basis, which assumes the realization of assets and the settlement of liabilities in the normal course of business. For the three-month period ended March 31, 2020, the Company recognized net income of $22,456 as a result of a foreign exchange gain offset by general administrative expenses, professional fees and interest expenses. The Company had a working capital deficiency of $2,094,153 as of March 31, 2020. These conditions raise substantial doubt about the Company’s ability to continue as a going concern. The World Health Organization declared coronavirus COVID-19 a global pandemic in March 2020. COVID-19 is a contagious disease that continues to spread adversely affecting workforces, economies, and financial markets globally, which affects will likely result in an economic downturn. The Company cannot predict the duration or magnitude of the adverse results connected to COVID-19, nor can it predict the effect, if any, COVID-19 will have on the Company’s business or its ability to raise funds. The Company will require continued financial support from shareholders and creditors until it is able to generate sufficient cash flow from operations. There is substantial doubt that the Company will be able to accomplish this objective. Failure to obtain the ongoing support of shareholders and creditors may indicate that the preparation of these financial statements on a going concern basis is inappropriate, in which case the Company’s assets and liabilities would need to be recognized at their liquidation values. These financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts and liabilities that might arise from this uncertainty.

Note 2_ Summary of Significant

Note 2: Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2020
Disclosure Text Block [Abstract]
Note 2: Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies a) Basis of presentation The Company is in the process of evaluating CaiE Food Partnership Ltd. (“CaiE”) as a business opportunity and has minimal operating expenses. The Company’s fiscal year end is December 31. The accompanying condensed interim financial statements of Arvana Inc. for the three months ended March 31, 2020 and 2019, have been prepared in accordance with accounting principles generally accepted in the United States (“US GAAP”) for financial information with the instructions to Form 10-Q and Regulation S-X. The condensed interim financial statements and notes appearing in this report should be read in conjunction with our audited financial statements and related notes thereto, together with Management’s Discussion and Analysis of Financial Condition and Results of Operations, contained in our Annual Report on Form 10-K for the fiscal year ended December 31, 2019, as filed with the Securities and Exchange Commission (“SEC”) on April 1, 2020. Results are not necessarily indicative of those which may be achieved in future periods. b) Estimates The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. These estimates include the recognition of deferred tax assets based on the change in unrecognized deductible temporary tax differences. c) Financial instruments The Company uses the following methods and assumptions to estimate the fair value of each class of financial instruments for which it is practicable to estimate such values: Cash - the carrying amount approximates fair value because the amounts consist of cash held at a bank. Accounts payable and accrued liabilities, convertible loan, loans payable and amounts due to related parties - the carrying amount approximates fair value due to the short-term nature of the obligations. The estimated fair values of the Company's financial instruments as of March 31, 2020 and December 31, 2019 are as follows: March 31, 2020 December 31, 2019 Carrying Amount Fair Value Carrying Amount Fair Value Cash $ 19,464 $ 19,464 $ 2,346 $ 2,346 Accounts payable and accrued liabilities 930,710 930,710 974,013 974,013 Convertible loan 107,800 107,800 107,800 107,800 Loans payable to stockholders 546,234 546,234 581,379 581,379 Loans payable to related party 128,455 128,455 130,249 130,249 Loans payable 73,859 73,859 84,509 84,509 Amounts due to related parties 326,559 326,559 338,109 338,109 The following table presents information about the assets that are measured at fair value on a recurring basis as of March 31, 2020, and indicates the fair value hierarchy of the valuation techniques the Company utilized to determine such fair value. In general, fair values determined by Level 1 inputs utilize quoted prices (unadjusted) in active markets for identical assets. Fair values determined by Level 2 inputs utilize data points that are observable such as quoted prices, interest rates and yield curves. Fair values determined by Level 3 inputs are unobservable data points for the asset or liability, and included situations where there is little, if any, market activity for the asset: March 31, 2020 Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: Cash $ 19,464 $ 19,464 $ — $ — The fair value of cash is determined through market, observable and corroborated sources. d) Recent accounting pronouncements New and amended standards adopted by the Company The following new and amended standards were adopted by the Company for the first time in this reporting period. In June 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Updates ASU 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, requiring certain changes to the recognition and measurement as well as disclosure of incurred and expected credit losses. In November 2018, the FASB issued ASU 2018-19 to clarify certain aspects of the new current expected credit losses impairment model in ASU 2016-13. ASU 2018-19 points out that operating lease receivables are within the scope of ASC 842 rather than ASC 326. The standard became effective for the Company beginning January 1, 2020. The adoption of this standard did not have a material impact on the Company’s results of operations, financial condition, cash flows, and financial statement disclosures. In August 2018, the Financial Accounting Standards Board (FASB) issued Accounting Standards Updates ASU 2018-13, which changes the fair value measurement disclosure requirements of ASC 820. The standard became effective for the Company beginning January 1, 2020. The amendments in this ASU are the result of a broader disclosure project called FASB Concepts Statement, Conceptual Framework for Financial Reporting — Chapter 8: Notes to Financial Statements. The adoption of this standard did not have a material impact on the Company’s results of operations, financial condition, cash flows, and financial statement disclosures.

Note 3_ Loans Payable

Note 3: Loans Payable	3 Months Ended
	Mar. 31, 2020
Disclosure Text Block [Abstract]
Note 3: Loans Payable	3. Loans Payable As of March 31, 2020, the Company had received loans of $546,234 (€225,000; CAD$ 72,300; $248,107) (December 31, 2019 - $581,379: €225,000; CAD$ 72,300; $273,107) from stockholders; loans of $128,455 (CAD$ 27,600; $109,000) (December 31, 2019 – $130,249: CAD$ 27,600; $109,000) from a related party and loans of $73,859 (CAD$ 10,000; $66,810) (December 31, 2019 – $84,509: CAD$ 10,000; $76,810) from unrelated third parties. All of the loans bear interest at 6% per annum. The loans were made in 3 different currencies, Euros, Canadian Dollars and US Dollars. All amounts reflected on these financial statements are expressed in US Dollars. Repayment of the loans is due on closing of any future financing arrangement by the Company. The balance of accrued interest of $488,629 and $521,156 is included in accounts payable and accrued expenses at March 31, 2020 and December 31, 2019, respectively. Interest expense recognized on these loans was $10,301 for the three months ended March 31, 2020, compared to $29,773 for the three months ended March 31, 2019, respectively. On March 30, 2020, loans of $60,000 and corresponding interest of $37,104 were settled by the issuance of 971,040 common shares pursuant to three debt settlement agreements dated March 3, 2020, March 4, 2020 and March 4, 2020.

Note 4_ Stock Options

Note 4: Stock Options	3 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Note 4: Stock Options	4. Stock Options At March 31, 2020 and December 31, 2019, there were no stock options outstanding. No options were granted, exercised or expired during the period ended March 31, 2020 and during the year ended December 31, 2019.

Note 5_ Common Stock

Note 5: Common Stock	3 Months Ended
	Mar. 31, 2020
Disclosure Text Block [Abstract]
Note 5: Common Stock	5. Common stock During the three months ended March 31, 2020, the Company issued 971,040 shares of its common stock valued at $0.10 a share to settle $60,000 in loans and $37,104 in interest (Note 3). During the year ended December 31, 2019, the Company had issued nil shares.

Note 6_ Segmented Information

Note 6: Segmented Information	3 Months Ended
	Mar. 31, 2020
Disclosure Text Block [Abstract]
Note 6: Segmented Information	6. Segmented Information The Company has no reportable segments.

Note 7_ Related Party Transacti

Note 7: Related Party Transactions and Amounts Due to Related Parties	3 Months Ended
	Mar. 31, 2020
Disclosure Text Block [Abstract]
Note 7: Related Party Transactions	7. Related Party Transactions and Amounts Due to Related Parties At March 31, 2020, and December 31, 2019, the Company had amounts due to related parties of $326,559 and $338,109, respectively. This amount includes $60,000 at March 31, 2020, and December 31, 2019, payable to a current director for services rendered during 2007. This amount is to be paid part in cash and part in stock at a future date with the number of common shares determined by the fair value of the shares on the settlement date. The amounts owing bear no interest, are unsecured, and have no fixed terms of repayment. The Company incurred consulting fees of $6,913 (2019 - $2,819) paid to a company controlled by our chief executive officer during the three months ended March 31, 2020. A former chief executive officer and director entered into a consulting arrangement that provided for a monthly fee of CAD $5,000, which amounts were accrued and are unpaid through the termination date on May 24, 2013. As of March 31, 2020, and December 31, 2019, our former chief executive officer was owed $266,559 and $278,109, respectively. The amounts due are unsecured and non-interest bearing, due on demand. A former chief executive officer and director assigned to a related corporation unpaid amounts of $142,925 (CAD $202,759) as of March 31, 2020 as per a debt assignment agreement effective January 1, 2012. A former chief executive officer and director is owed for unsecured amounts bearing 6% interest due on demand along with corresponding accrued interest payable that remains outstanding as of March 31, 2020 and December 31, 2019 as indicated below. March 31, 2020 December 31, 2019 Loans payable $ 128,455 $ 130,249 Accrued interest payable included in amounts due to related parties 80,013 78,962

Note 8_ Convertible Loan

Note 8: Convertible Loan	3 Months Ended
	Mar. 31, 2020
Disclosure Text Block [Abstract]
Note: 8. Convertible Loan	8. Convertible Loans On May 18, 2016, the Company issued a convertible promissory note to CaiE that accrues 10% per annum, in exchange for $50,000, which was initially due on November 17, 2017. The note is convertible into the Company’s common stock, in whole or in part, at any time prior to maturity at the option of the holder at $0.20 per share. Due to the conversion price being lower than the closing share price on the issuance date, a beneficial conversion feature was recognized as a discount against the debt. The maturity date of the note was extended on March 31, 2020, by amendment, to March 31, 2021, while all other terms of the note remain unchanged. During the three months ended March 31, 2020 and 2019, no discount was amortized as interest expense, while the interest expense on the note was $1,250 for the period ended March 31, 2020, and $1,250 for the period ended March 31, 2019. As at March 31, 2020 and December 31, 2019, the balance of the note was $50,000. On October 12, 2018, the Company issued a convertible note to CaiE that accrues 10% per annum, in exchange for a series of loans that totaled $57,800, which was initially due on October 11, 2019. The note is convertible into the Company’s common stock, in whole or in part, at any time prior to maturity at the option of the holder at $0.20 per share. Due to the conversion price being lower than the closing share price on the issuance date, a beneficial conversion feature was recognized as a discount against the debt. The maturity date of the note was extended on March 31, 2020, by amendment, to March 31, 2021, while all other terms of the note remain unchanged. During the three months ended March 31, 2020 and 2019, $nil and $14,450 of the discount was amortized as interest expense, while the interest expense on the note was $1,445 for the period ended March 31, 2020, and $1,445 for the period ended March 31, 2019. As at March 31, 2020 and December 31, 2019, the balance of the note was $57,800.

Note 9_ Subsequent Events

Note 9: Subsequent Events	3 Months Ended
	Mar. 31, 2020
Disclosure Text Block [Abstract]
Note 9: Subsequent Events	9. Subsequent Events The Company evaluated its March 31, 2020 financial statements for subsequent events through the date the financial statements were issued. The Company is not aware of any subsequent events which would require recognition or disclosure in the financial statements.

Note 2_ Summary of Significan_2

Note 2: Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2020
Policy Text Block [Abstract]
Basis of presentation	a) Basis of presentation The Company is in the process of evaluating CaiE Food Partnership Ltd. (“CaiE”) as a business opportunity and has minimal operating expenses. The Company’s fiscal year end is December 31. The accompanying condensed interim financial statements of Arvana Inc. for the three months ended March 31, 2020 and 2019, have been prepared in accordance with accounting principles generally accepted in the United States (“US GAAP”) for financial information with the instructions to Form 10-Q and Regulation S-X. The condensed interim financial statements and notes appearing in this report should be read in conjunction with our audited financial statements and related notes thereto, together with Management’s Discussion and Analysis of Financial Condition and Results of Operations, contained in our Annual Report on Form 10-K for the fiscal year ended December 31, 2019, as filed with the Securities and Exchange Commission (“SEC”) on April 1, 2020. Results are not necessarily indicative of those which may be achieved in future periods.
Estimates	b) Estimates The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. These estimates include the recognition of deferred tax assets based on the change in unrecognized deductible temporary tax differences.
Financial instruments	c) Financial instruments The Company uses the following methods and assumptions to estimate the fair value of each class of financial instruments for which it is practicable to estimate such values: Cash - the carrying amount approximates fair value because the amounts consist of cash held at a bank. Accounts payable and accrued liabilities, convertible loan, loans payable and amounts due to related parties - the carrying amount approximates fair value due to the short-term nature of the obligations. The estimated fair values of the Company's financial instruments as of March 31, 2020 and December 31, 2019 are as follows: March 31, 2020 December 31, 2019 Carrying Amount Fair Value Carrying Amount Fair Value Cash $ 19,464 $ 19,464 $ 2,346 $ 2,346 Accounts payable and accrued liabilities 930,710 930,710 974,013 974,013 Convertible loan 107,800 107,800 107,800 107,800 Loans payable to stockholders 546,234 546,234 581,379 581,379 Loans payable to related party 128,455 128,455 130,249 130,249 Loans payable 73,859 73,859 84,509 84,509 Amounts due to related parties 326,559 326,559 338,109 338,109 The following table presents information about the assets that are measured at fair value on a recurring basis as of March 31, 2020, and indicates the fair value hierarchy of the valuation techniques the Company utilized to determine such fair value. In general, fair values determined by Level 1 inputs utilize quoted prices (unadjusted) in active markets for identical assets. Fair values determined by Level 2 inputs utilize data points that are observable such as quoted prices, interest rates and yield curves. Fair values determined by Level 3 inputs are unobservable data points for the asset or liability, and included situations where there is little, if any, market activity for the asset: March 31, 2020 Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: Cash $ 19,464 $ 19,464 $ — $ — The fair value of cash is determined through market, observable and corroborated sources.
Recent accounting pronouncements	d) Recent accounting pronouncements New and amended standards adopted by the Company The following new and amended standards were adopted by the Company for the first time in this reporting period. In June 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Updates ASU 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, requiring certain changes to the recognition and measurement as well as disclosure of incurred and expected credit losses. In November 2018, the FASB issued ASU 2018-19 to clarify certain aspects of the new current expected credit losses impairment model in ASU 2016-13. ASU 2018-19 points out that operating lease receivables are within the scope of ASC 842 rather than ASC 326. The standard became effective for the Company beginning January 1, 2020. The adoption of this standard did not have a material impact on the Company’s results of operations, financial condition, cash flows, and financial statement disclosures. In August 2018, the Financial Accounting Standards Board (FASB) issued Accounting Standards Updates ASU 2018-13, which changes the fair value measurement disclosure requirements of ASC 820. The standard became effective for the Company beginning January 1, 2020. The amendments in this ASU are the result of a broader disclosure project called FASB Concepts Statement, Conceptual Framework for Financial Reporting — Chapter 8: Notes to Financial Statements. The adoption of this standard did not have a material impact on the Company’s results of operations, financial condition, cash flows, and financial statement disclosures.

Note 2_ Summary of Significan_3

Note 2: Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2020
Disclosure Text Block [Abstract]
Estimated fair values	March 31, 2020 December 31, 2019 Carrying Amount Fair Value Carrying Amount Fair Value Cash $ 19,464 $ 19,464 $ 2,346 $ 2,346 Accounts payable and accrued liabilities 930,710 930,710 974,013 974,013 Convertible loan 107,800 107,800 107,800 107,800 Loans payable to stockholders 546,234 546,234 581,379 581,379 Loans payable to related party 128,455 128,455 130,249 130,249 Loans payable 73,859 73,859 84,509 84,509 Amounts due to related parties 326,559 326,559 338,109 338,109
Fair Value, Assets Measured on Recurring Basis	March 31, 2020 Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: Cash $ 19,464 $ 19,464 $ — $ —

Note 7_ Income Taxes (Tables)

Note 7: Income Taxes (Tables)	3 Months Ended
	Mar. 31, 2020
Income Tax Disclosure [Abstract]
Income tax benefits	2018 2017 Income (loss) for the year before income taxes $ 93,510 $ (224,914 ) Computed expected tax expense (benefit) $ 23,294 $ (76,471 ) Non-deductible expenses (21,198 ) 40,926 Change in tax rates — 319,734 True up of prior-year provision to statutory tax returns — 530,084 Change in valuation allowance — (814,273 ) Income tax expense $ 2,096 $ —

Note 7_ Related Party Transac_2

Note 7: Related Party Transactions and Amounts Due to Related Parties (Tables)	3 Months Ended
	Mar. 31, 2020
Disclosure Text Block [Abstract]
Schedule of Notes Payable	March 31, 2020 December 31, 2019 Loans payable $ 128,455 $ 130,249 Accrued interest payable included in amounts due to related parties 80,013 78,962

Note 1_ Nature of Business an_2

Note 1: Nature of Business and Ability To Continue As A Going (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019	Dec. 31, 2018
Disclosure Text Block [Abstract]
Net loss	$ 22,456	$ (38,870)
Working capital deficiency	$ (2,094,153)	$ (2,364,835)	$ (2,213,713)	$ (2,325,965)

Note 2_ Summary of Significan_4

Note 2: Summary of Significant Accounting Policies - Estimated Fair Value (Details) - USD ($)	Mar. 31, 2020	Dec. 31, 2019
Cash	$ 19,464	$ 2,346
Accounts payable and accrued liabilities	930,710	974,013
Convertible loan	107,800	107,800
Amount due to related parties	549,132	541,927
Carrying Amount
Cash	19,464	2,346
Accounts payable and accrued liabilities	930,710	974,013
Convertible loan	107,800	107,800
Loans payable to stockholders	546,234	581,379
Loans payable to related party	128,455	130,249
Loans payable	73,859	84,509
Amount due to related parties	326,559	338,109
Fair Value
Cash	19,464	2,346
Accounts payable and accrued liabilities	930,710	974,013
Convertible loan	107,800	107,800
Loans payable to stockholders	546,234	581,379
Loans payable to related party	128,455	130,249
Loans payable	73,859	84,509
Amount due to related parties	$ 326,559	$ 338,109

Note 2_ Summary of Significan_5

Note 2: Summary of Significant Accounting Policies - Fair Value, Assets Measured on Recurring Basis (Details) - USD ($)	Mar. 31, 2020	Dec. 31, 2019
Cash	$ 19,464	$ 2,346
Quoted Prices in Active Markets, Level 1 [Member]
Cash	19,464
Significant Other Observable Inputs, Level 2 [Member]
Cash
Significant Unobservable Inputs, Level 3 [Member]
Cash

Note 3_ Loan Payable (Details N

Note 3: Loan Payable (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Disclosure Text Block [Abstract]
Loans received from stockholders	$ 546,234		$ 581,379
Loans received from related parties	128,455		130,249
Loans received from unrelated third parties	$ 73,859		84,509
Interst rate	6.00%
Accrued interest	$ 488,629		$ 521,156
Inerest expenses	12,996	$ 29,773
Loan settled through issuance of common shares	60,000
Interest settled through issuance of common shares	$ 37,104
Common shares issued for settlement of debt	971,040

Note 5_ Common Stock (Details N

Note 5: Common Stock (Details Narrative)	3 Months Ended
	Mar. 31, 2020USD ($)$ / sharesshares
Disclosure Text Block [Abstract]
Shares issued during the period | shares	971,040
Per share value | $ / shares	$ .10
Loan settled through issuance of common shares	$ 60,000
Interest settled through issuance of common shares	$ 37,104

Note 7_ Related Party Transac_3

Note 7: Related Party Transactions and Amounts Due to Related Parties - Schedule of Notes Payable (Details) - USD ($)	Mar. 31, 2020	Dec. 31, 2019
Note 7 Related Party Transactions And Amounts Due To Related Parties - Schedule Of Notes Payable
Loans payable	$ 128,455	$ 130,249
Accrued interest payable included in amounts due to related parties	$ 80,013	$ 78,962

Note 7_ Related Party Transac_4

Note 7: Related Party Transactions and Amounts Due to Related Parties (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Amounts due to related parties	$ 326,559		$ 338,109
Consulting fees	6,913	$ 2,819
Due to related party	549,132		541,927
Director
Due to related party	60,000		60,000
Former Chief Executive Officer [Member]
Due to related party	266,559		$ 278,109
Former Chief Executive Officer and Former Director (2) [Member]
Unpaid amounts	$ 142,925

Note 8_ Convertible Loan (Detai

Note 8: Convertible Loan (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019	Oct. 12, 2018	May 17, 2016
Amortization of debt discount		$ 14,450
Convertible Note	107,800		$ 107,800
Inerest expenses	12,996	29,773
CaiE Food Partnership Ltd
Amortization of debt discount
Convertible Note	50,000		$ 50,000	$ 57,800	$ 50,000
Common stock, per share price				$ 0.20	$ 0.20
Convertible Note, Interest					10.00%
Inerest expenses	1,250	1,250
CaiE Food Partnership Ltd (2)
Amortization of debt discount		14,450
Inerest expenses	$ 1,445	$ 1,445