Fearless Films (FERL) 10-K 15 Apr 21 2020 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2020	Apr. 13, 2021	Jun. 30, 2020
Details
Registrant CIK	0001122742
Fiscal Year End	--12-31
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2020
Document Transition Report	false
Entity File Number	000-31441
Entity Registrant Name	FEARLESS FILMS, INC.
Entity Incorporation, State or Country Code	NV
Entity Tax Identification Number	33-0921357
Entity Address, Address Line One	467 Edgeley Blvd.
Entity Address, Address Line Two	Unit 2
Entity Address, City or Town	Concord
Entity Address, State or Province	ON
Entity Address, Postal Zip Code	L4K 4E9
City Area Code	888
Local Phone Number	928-0184
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	true
Entity Shell Company	false
Entity Public Float			$ 9,000,000
Entity Common Stock, Shares Outstanding		33,895,157
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Dec. 31, 2020	Dec. 31, 2019
ASSETS
Cash	$ 39,036	$ 2,779
Prepaid expenses	7,983	1,000
Total current assets	47,019	3,779
Intangible Assets	88,400	0
Total assets	135,419	3,779
Liabilities
Accounts payable	357,971	417,199
Accrued liabilities	50,195	24,045
Loan payable	367,635	339,248
Convertible note payable - net of debt discount	0	41,555
Total current liabilities	775,801	822,047
Total liabilities	775,801	822,047
Stockholders deficiency
Preferred stock, $0.001 par value, 20,000,000 authorized. 1,000,000 shares issued and outstanding as at December 31, 2020 and December 31, 2019 respectively	1,000	1,000
Common shares	32,295	31,655
Common stock to be issued	878,353	0
Additional paid-in-capital	3,598,688	2,861,700
Accumulated other comprehensive income	166,667	396,853
Accumulated deficit	(5,317,385)	(4,109,476)
Total stockholders deficiency	(640,382)	(818,268)
Total liabilities and stockholders deficiency	$ 135,419	$ 3,779

Consolidated Balance Sheets - P

Consolidated Balance Sheets - Parenthetical - $ / shares	Dec. 31, 2020	Dec. 31, 2019
Details
Preferred Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001
Preferred Stock, Shares Authorized	20,000,000	20,000,000
Preferred Stock, Shares Issued	1,000,000	1,000,000
Preferred Stock, Shares Outstanding	1,000,000	1,000,000
Common Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001
Common Stock, Shares Authorized	500,000,000	500,000,000
Common Stock, Shares, Issued	32,295,157	31,655,005
Common Stock, Shares, Outstanding	32,295,157	31,655,005

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Details
REVENUE	$ 0	$ 0
EXPENSES
General and administrative	4,440	37,848
Consulting Expenses	800,000	300,000
Management fees	133,690	158,346
Professional fees	1,379,146	87,780
Total operating expenses	2,317,276	583,974
(Loss) / Gain on settlement of payables	914,008	0
Interest Expense	(20,910)	(9,510)
Amoritization of debt discount	(8,445)	(1,555)
Financing Cost	0	(50,000)
Exchange (Loss) / Gain	224,714	(1,865)
Net (loss) income before income taxes	(1,207,909)	(646,904)
Income taxes	0	0
Net Income (Loss)	(1,207,909)	(646,904)
Foreign currency translation adjustment	(230,186)	(1,636)
Comprehensive (loss) income	$ (1,438,095)	$ (648,540)
(Loss) earnings per share - basic and diluted	$ (0.04)	$ (0.02)
Weighted average number of common shares - basic and diluted	31,873,167	31,655,005

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Deficiency - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Preferred Stock
Stockholders' Equity Attributable to Parent, Beginning Balance	$ 1,000	$ 1,000
Shares, Outstanding, Beginning Balance	1,000,000	1,000,000
Shares issued for acquisition of intangible assets	$ 0
Shares issued for repayment of convertible notes	0
Foreign currency translation adjustment	0	$ 0
Debt Discount - BCF on convertible note payable		0
Issue of Shares for cash	0
Net Income (Loss)	0	0
Stockholders' Equity Attributable to Parent, Ending Balance	$ 1,000	$ 1,000
Shares, Outstanding, Ending Balance	1,000,000	1,000,000
Common Stock
Stockholders' Equity Attributable to Parent, Beginning Balance	$ 31,655	$ 31,655
Shares, Outstanding, Beginning Balance	31,655,005	31,655,005
Shares issued for acquisition of intangible assets	$ 170
Shares issued for acquisition of intangible assets, shares	170,000
Shares issued for repayment of convertible notes	$ 100
Shares issued for repayment of convertible notes, Shares	100,000
Foreign currency translation adjustment	$ 0	$ 0
Debt Discount - BCF on convertible note payable		0
Issue of Shares for cash	370
Net Income (Loss)	0	0
Stockholders' Equity Attributable to Parent, Ending Balance	$ 32,295	$ 31,655
Shares, Outstanding, Ending Balance	32,295,157	31,655,005
Issue of Shares for cash	370,152
Common Stock to be Issued
Stockholders' Equity Attributable to Parent, Beginning Balance	$ 0	$ 0
Shares issued for acquisition of intangible assets	0
Shares issued for repayment of convertible notes	0
Foreign currency translation adjustment	0	0
Debt Discount - BCF on convertible note payable		0
Issue of Shares for cash	878,353
Net Income (Loss)	0	0
Stockholders' Equity Attributable to Parent, Ending Balance	$ 878,353	0
Shares, Outstanding, Ending Balance	585,569
Issue of Shares for cash	585,569
Additional Paid-in Capital
Stockholders' Equity Attributable to Parent, Beginning Balance	$ 2,861,700	2,851,700
Shares issued for acquisition of intangible assets	88,230
Shares issued for repayment of convertible notes	93,900
Foreign currency translation adjustment	0	0
Debt Discount - BCF on convertible note payable		10,000
Issue of Shares for cash	554,858
Net Income (Loss)	0	0
Stockholders' Equity Attributable to Parent, Ending Balance	3,598,688	2,861,700
AOCI Attributable to Parent
Stockholders' Equity Attributable to Parent, Beginning Balance	396,853	398,489
Shares issued for acquisition of intangible assets	0
Shares issued for repayment of convertible notes	0
Foreign currency translation adjustment	(230,186)	(1,636)
Debt Discount - BCF on convertible note payable		0
Issue of Shares for cash	0
Net Income (Loss)	0	0
Stockholders' Equity Attributable to Parent, Ending Balance	166,667	396,853
Retained Earnings
Stockholders' Equity Attributable to Parent, Beginning Balance	(4,109,476)	(3,462,572)
Shares issued for acquisition of intangible assets	0
Shares issued for repayment of convertible notes	0
Foreign currency translation adjustment	0	0
Debt Discount - BCF on convertible note payable		0
Issue of Shares for cash	0
Net Income (Loss)	(1,207,909)	(646,904)
Stockholders' Equity Attributable to Parent, Ending Balance	(5,317,385)	(4,109,476)
Stockholders' Equity Attributable to Parent, Beginning Balance	(818,268)	(179,728)
Shares issued for acquisition of intangible assets	88,400
Shares issued for repayment of convertible notes	$ 94,000
Shares issued for repayment of convertible notes, Shares	1,000,000
Foreign currency translation adjustment	$ (230,186)	(1,636)
Debt Discount - BCF on convertible note payable		10,000
Issue of Shares for cash	1,433,581	0
Net Income (Loss)	(1,207,909)	(646,904)
Stockholders' Equity Attributable to Parent, Ending Balance	$ (640,382)	$ (818,268)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Net Cash Provided by (Used in) Operating Activities
Net Income (Loss)	$ (1,207,909)	$ (646,904)
Adjustments to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities
Loss/(Gain) on settlement of accounts and loans payables	(914,008)	0
Amortization of debt discount	8,445	1,555
Financing Cost	0	50,000
Changes in operating assets and liabilities:
Prepaid expenses	(6,963)	19,729
Accounts payable	894,994	315,702
Accrued liabilities	25,858	11,943
Cash used in operating activities	(1,199,583)	(247,975)
Net Cash Provided by (Used in) Financing Activities
Issue of Shares for cash	1,433,581	0
Proceeds from Loans Payable	28,000	248,103
Cash provided by financing activities	1,461,581	248,103
Net increase (decrease) in cash during the period	261,998	128
Effect of foreign currency translation	(225,741)	(1,049)
Cash at beginning	2,779	3,700
Cash at end	39,036	2,779
Non Cash Transactions
Settlement of convertible note through issuance of common shares	50,000	50,000
Additional cash flow information
Interest paid	0	0
Taxes paid	$ 0	$ 0

1. NATURE OF OPERATIONS

1. NATURE OF OPERATIONS	12 Months Ended
	Dec. 31, 2020
Notes
1. NATURE OF OPERATIONS	1. NATURE OF OPERATIONS Fearless Films, Inc. (the "Company ") was incorporated in the State of Nevada as MYG Corp. on July 06, 2000. The Company changed its name from time to time and its latest name change was from Paw4mance Pet Products International, Inc. to Fearless Films, Inc. effective from November 19, 2014. Pursuant to Share Exchange Agreement dated August 5, 2014 and its subsequent amendments effective from that date, the Company acquired 100% of the issued and outstanding shares of a Canadian based entity, Fearless Films Inc. (“Fearless”) in exchange for 1,000,000 Preferred Shares and 30,000,000 Common Shares of the Company. As a result of the Share Exchange, Fearless is now a wholly-owned subsidiary of the Company. This transaction was accounted for as a reverse merger. Consequently, the assets and liabilities and the historical operations reflected in the consolidated financial statements for the periods prior to August 5, 2014 are those of Fearless and are recorded at the historical cost basis. After August 5, 2014, the Company’s consolidated financial statements include the assets and liabilities of both Fearless and the Company and the historical operations of both after that date as one entity. Fearless was incorporated on January 23, 2008 under the laws of the Province of Ontario, Canada. The Company is engaged in providing post production facilities and services and on-site and off-site off-line suites for television series and feature films. Both the Companies did not have any revenue since inception, as these were primarily engaged in the business development activities. Pursuant to Share Exchange Agreement as explained above, the Company also effected a reverse split of its common stock by 1 share for 1,000 shares. On October 26, 2020 the Company approved a reverse stock split of its issued and outstanding shares of common stock on a one share for 10 shares (1:10) basis. The reverse stock split was effected on December 8, 2020 with no change in par value. As a result of reverse stock split, the issued and outstanding common stock shares decreased to 32,295,157.

2. BASIS OF PRESENTATION, MEASU

2. BASIS OF PRESENTATION, MEASUREMENT AND CONSOLIDATION	12 Months Ended
	Dec. 31, 2020
Notes
2. BASIS OF PRESENTATION, MEASUREMENT AND CONSOLIDATION	2. BASIS OF PRESENTATION, MEASUREMENT AND CONSOLIDATION The consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) and are expressed in United States dollars (“USD”). In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for fair statement of the financial position, results of operations and cash flows for the years ended December 31, 2020 and 2019 have been included. The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary, Fearless. Significant intercompany accounts and transactions have been eliminated.

3. GOING CONCERN

3. GOING CONCERN	12 Months Ended
	Dec. 31, 2020
Notes
3. GOING CONCERN	3. GOING CONCERN The 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. The Company has incurred recurring losses from operations and as at December 31, 2020 and December 31, 2019 and had a working capital deficiency of $728,782 and $818,268 respectively and an accumulated deficit of $5,317,385 and $4,109,476, respectively. Management anticipates the Company will attain profitable status and improve its liquidity through continued business development and additional debt or equity investment in the Company. Management is pursuing various sources of financing. The Company’s continued existence is dependent upon its ability to continue to execute its operating plan and to obtain additional debt or equity financing. There can be no assurance that the necessary debt or equity financing will be available or will be available on terms acceptable to the Company, in which case there may be substantial doubt that the Company will be able to meet its obligations. Should the Company be unable to realize its assets and discharge its liabilities in the 3. GOING CONCERN (continued) normal course of business, the net realizable value of its assets may be materially less than the amounts recorded in the consolidated financial statements. The consolidated financial statements do not include any adjustments relating to the recoverability of recorded asset amounts that might be necessary should the Company be unable to continue in existence.

4. SUMMARY OF SIGNIFICANT ACCOU

4. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2020
Notes
4. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	4. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Cash and Cash Equivalents Cash includes cash on hand and balances with banks. Use of Estimates The preparation of consolidated financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Areas involving significant estimates and assumptions include, fair value of stock options or services offered, deferred income tax assets and related valuation allowance, and accruals. Actual results could differ from those estimates. These estimates are reviewed periodically, and, as adjustments become necessary, they are reported in earnings in the period in which they become known. Earnings (Loss) Per Share The Company has adopted the Financial Accounting Standards Board’s (“FASB”) Accounting Standards Codification (“ASC”) Topic 260-10 which provides for calculation of “basic” and “diluted” earnings per share. Basic earnings per share includes no dilution and is computed by dividing net income or loss available to common stockholders by the weighted average number of common shares outstanding for the period. Diluted earnings per share reflect the potential dilution of securities that could share in the earnings of an entity. Diluted earnings per share reflect the potential dilution of securities that could share in the earnings of an entity. Diluted earnings per share exclude all potentially dilutive shares if their effect is anti-dilutive. Series A are convertible into common, and potentially dilutive. Foreign Currency Translation The functional currency of the parent Company is United States dollar and the functional currency of the subsidiary is Canadian dollar. Transactions denominated in currencies other than the functional currency are translated into the functional currency at the exchange rates prevailing at the dates of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated using the exchange rate prevailing at the balance sheet date. Non-monetary assets and liabilities are translated using the historical rate on the date of the transaction. All exchange gains or losses arising from translation of these foreign currency transactions are included in net loss for the year. In translating the financial statements of the Company’s Canadian subsidiary from its functional currency into the Company’s reporting currency of United States dollars, balance sheet accounts are translated using the closing exchange rate in effect at the balance sheet date and income and expense accounts are translated using an average exchange rate prevailing during the reporting period. Adjustments resulting from the translation, if any, are included in accumulated other comprehensive income (loss) in stockholders’ equity. The Company has not, to the date of these consolidated financial statements, entered into derivative instruments to offset the impact of foreign currency fluctuations. 4. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) Advertising and Marketing Costs Advertising and marketing costs are expensed as incurred. During the years ended December 31, 2020 and December 31, 2019, the Company incurred $1,325 and $5,573 respectively in advertising and marketing costs included in General and Administrative costs. Revenue Recognition In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers (Topic 606). This standard provides a single set of guidelines for revenue recognition to be used across all industries and requires additional disclosures. The updated guidance introduces a five-step model to achieve its core principal of the entity recognizing revenue to depict the transfer of goods or services to customers at an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The Company adopted the updated guidance effective January 1, 2018 using the full retrospective method. Under ASC 606, in order to recognize revenue, the Company is required to identify an approved contract with commitments to preform respective obligations, identify rights of each party in the transaction regarding goods to be transferred, identify the payment terms for the goods transferred, verify that the contract has commercial substance and verify that collection of substantially all consideration is probable. The adoption of ASC 606 did not have an impact on the Company’s operations or cash flows since the Company has not started earning any revenue. Fair Value of Financial Instruments ASC 820 defines fair value, establishes a framework for measuring fair value and expands required disclosure about fair value measurements of assets and liabilities. ASC 820-10 defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820-10 also establishes a fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The standard describes three levels of inputs that may be used to measure fair value: ● ● ● In instances where the determination of the fair value measurement is based on inputs from different levels of the fair value hierarchy, the level in the fair value hierarchy within which the entire fair value measurement falls is based on the lowest level input that is significant to the fair value measurement in its entirety. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the asset or liability. Fair value estimates discussed herein are based upon certain market assumptions and pertinent information available to management. The respective carrying value of certain on-balance-sheet financial instruments approximated their fair values due to the short-term nature of these instruments or interest rates that are comparable to market rates. 4. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) These financial instruments include cash and accounts payable. The Company's cash, which is carried at fair value, is classified as a Level 1 financial instrument. The Company’s bank accounts are maintained with financial institutions of reputable credit, therefore, bear minimal credit risk. Intangible Assets Intangible assets are initially valued at fair value using generally accepted valuation methods appropriate for the type of intangible asset. Intangible assets with definite lives are amortized over their estimated useful lives and are reviewed for impairment if indicators of impairment arise. Intangible assets with indefinite lives are tested for impairment within one year of acquisitions or annually and whenever indicators of impairment exist. The fair value of intangible assets are compared with their carrying values, and an impairment loss would be recognized for the amount by which the carrying amount exceeds its fair value. The Company considers the intangibles acquired as assets with indefinite life and so not amortized. Convertible Notes Payable The Company accounted for conversion options embedded in convertible notes in accordance with ASC 815. ASC 815 generally requires companies to bifurcate conversion options embedded in convertible notes from their host instruments and to account for them as free-standing derivative financial instruments. ASC 815 provides for an exception to this rule when convertible notes, as host instruments, are deemed to be conventional, as defined by ASC 815-40. The Company accounts for convertible notes deemed conventional and conversion options embedded in non-conventional convertible notes which qualify as equity under ASC 815, in accordance with the provisions of ASC 470-20, which provides guidance on accounting for convertible securities with beneficial conversion features. Accordingly, the Company records, as a discount to convertible notes, the intrinsic value of such conversion options based upon the differences between the fair value of the underlying common stock at the commitment date of the note transaction and the effective conversion price embedded in the note. Debt discounts under these arrangements are amortized over the term of the related debt. Stock Based Compensation The Company accounts for share-based payments in accordance with the provision of ASC 718, which requires that all share-based payments issued to acquire goods or services, including grants of employee stock options, be recognized in the consolidated statement of operations based on their fair values, net of estimated forfeitures. ASC 718 requires forfeitures to be estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. Compensation expense related to share-based awards is recognized over the requisite service period, which is generally the vesting period. The Company accounts for stock-based compensation awards issued to non-employees for services, as prescribed by ASC 718-10, at either the fair value of the services rendered or the instruments issued in exchange for such services, whichever is more readily determinable, using the guidelines in ASC 718. The Company issues compensatory shares for services including, but not limited to, executive, management, accounting, operations, corporate communication, financial and administrative consulting services. 4. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) Recently Issued Accounting Pronouncements In August 2018, the FASB issued ASU 2018-13, “Changes to Disclosure Requirements for Fair Value Measurements”, which will improve the effectiveness of disclosure requirements for recurring and nonrecurring fair value measurements. The standard removes, modifies, and adds certain disclosure requirements, and is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. The Company has adopted this pronouncement effective January 1, 2020 with no material impact for the Company on the consolidated financial statements given no fair value measurements at this time. In June 2018, the FASB issued an accounting pronouncement (FASB ASU 2018-07) to expand the scope of ASC Topic 718, Compensation - Stock Compensation, to include share-based payment transactions for acquiring goods and services from nonemployees. The pronouncement is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2018, with early adoption permitted. The Company has adopted this pronouncement effective January 1, 2019 with no material impact for the Company on the consolidated financial statements given no outstanding equity awards. In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses: Measurement of Credit Losses on Financial Instruments, which changes the impairment model for most financial assets. This Update is intended to improve financial reporting by requiring timelier recording of credit losses on loans and other financial instruments held by financial institutions and other organizations. The underlying premise of the Update is that financial assets measured at amortized cost should be presented at the net amount expected to be collected, through an allowance for credit losses that is deducted from the amortized cost basis. The allowance for credit losses should reflect management’s current estimate of credit losses that are expected to occur over the remaining life of a financial asset. The income statement will be affected for the measurement of credit losses for newly recognized financial assets, as well as the expected increases or decreases of expected credit losses that have taken place during the period. The new standard is effective for fiscal years and interim periods within those years beginning after December 15, 2022 In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842). This guidance revises the accounting related to leases by requiring lessees to recognize a lease liability and a right-of-use asset for all leases. The new lease guidance also simplifies the accounting for sale and leaseback transactions. This ASU is effective for annual reporting periods beginning after December 15, 2018 and early adoption is permitted. The Company is an emerging growth company and, under the optional 1-year deferral, the Company has adopted this pronouncement effective January 1, 2020 with no material impact for the Company on the consolidated financial statements given no leases at this time.

5. INTANGIBLE ASSETS

5. INTANGIBLE ASSETS	12 Months Ended
	Dec. 31, 2020
Notes
5. INTANGIBLE ASSETS	5. INTANGIBLE ASSETS Intangible assets were comprised of the following at: December 31, 2020 $ December 31, 2019 $ Rights to an online film marketplace 52,000 - Rights and interests in Films 20,800 - Film Scripts 15,600 - Net carrying value 88,400 - 5. INTANGIBLE ASSETS (continued) All intangible assets are considered to be indefinite life assets and not amortized.

6. ACCOUNTS PAYABLE

6. ACCOUNTS PAYABLE	12 Months Ended
	Dec. 31, 2020
Notes
6. ACCOUNTS PAYABLE	6. ACCOUNTS PAYABLE As at December 31, 2020, total accounts payable include $16,504 payable to directors of the Company.

7. LOANS PAYABLE

7. LOANS PAYABLE	12 Months Ended
	Dec. 31, 2020
Notes
7. LOANS PAYABLE	7. LOANS PAYABLE During the year ended December 31, 2020, the Company entered into loan agreements with third parties and shareholders and raised in total gross proceeds of $28,000 (December 31, 2019: $248,103). All loans are unsecured, interest free and repayable on demand within 180 days of written notice of such demand. Implied interest at the rate of 5% per annum has been accrued on all loans outstanding as of December 31, 2020. As at December 31, 2020, accrued liabilities include implied interest on loans payable of $27,411.

8. CONVERTIBLE NOTES PAYABLE

8. CONVERTIBLE NOTES PAYABLE	12 Months Ended
	Dec. 31, 2020
Notes
8. CONVERTIBLE NOTES PAYABLE	8. CONVERTIBLE NOTES PAYABLE On December 3, 2019 the Company issued a $50,000 convertible promissory note to Crown Bridge Partners, LLC as a commitment fee in connection with an Equity Purchase Agreement as explained in Note 9. The convertible promissory note matures, in six months from date of issue, on June 3, 2020 may not be prepaid, bears interest at the rate of ten percent (10%) per annum, and is convertible at any time by the holder for all or any part of the outstanding principal amount and accrued interest into shares of the Company’s common stock at the conversion price of $0.25 per share. Any outstanding principal amount and accrued interest as at maturity date bears interest at the rate of twelve percent (12%) per annum. The note bears a beneficial conversion feature given the conversion price of the note is below market price at time of issue. The total discount of $10,000 is to be amortized over the term of the note. During the year ended December 31, 2020, $8,445 (2019: $nil) has been amortized to the statement of operations. Due to the uncertain future term in which the equity line would be utilized, the full value of the convertible note of $50,000 was expensed as a financing cost on the date of issuance of note. On July 23, 2020, the Company issued 1,000,000 shares of common stock pursuant to a settlement agreement for the outstanding convertible note. The common shares were issued in consideration of the outstanding principal amount of the note and accrued interest and fair valued at $94,000 resulting in a loss on settlement of $40,992.

9. STOCKHOLDERS' DEFICIENCY

9. STOCKHOLDERS' DEFICIENCY	12 Months Ended
	Dec. 31, 2020
Notes
9. STOCKHOLDERS' DEFICIENCY	9. STOCKHOLDERS’ DEFICIENCY Share Exchange Agreement As explained in Note 1 to the consolidated financial statements, on August 5, 2014 the Company acquired 100% of the issued and outstanding shares of Fearless Films Inc. (“Fearless”) in exchange for 1,000,000 Preferred Shares and 30,000,000 Common Shares of the Company. As a result, Fearless became a wholly owned subsidiary of the Company. Authorized stock The Company is authorized to issue 500,000,000 common shares with a par value of $0.001 and 20,000,000 preferred shares with a par value of $0.001. 9. STOCKHOLDERS’ DEFICIENCY (continued) Common Stock As explained in Note 1 to the consolidated financial statements, on September 23, 2014, the Board of Directors and stockholders of the Company approved a Certificate of Amendment to its Articles of Incorporation for a 1:1000 Reverse split of its Common Stock with shares rounded up to the nearest whole number. The Reverse split solely effected the issued and outstanding Common Stock and did not have any effect on the Authorized Common Stock. As a result of the Reverse split, the issued and outstanding Common Stock of the Company decreased from 155,085,275 shares prior to the Reverse split to 155,289 shares following the Reverse split. As explained in Note 1 to the consolidated financial statements, on October 26, 2020, the Board of Directors and stockholders of the Company approved a Certificate of Amendment to its Articles of Incorporation for a 1:10 Reverse split of its Common Stock with shares rounded up to the nearest whole number. The Reverse split solely effected the issued and outstanding Common Stock and did not have any effect on the Authorized Common Stock. As a result of the Reverse split, the issued and outstanding Common Stock of the Company decreased from 322,944,837 shares prior to the Reverse split to 32,295,157 shares following the Reverse split and $290,649 was reclassified from Common Stock to Additional Paid-In Capital. On December 3, 2019 the Company entered into a $5,000,000 equity purchase agreement with Crown Bridge Partners and this was finalized on December 12, 2019. Under the terms of the agreement, the Company may put to the investor shares of the Company common stock in minimums of $10,000 to maximums of either $175,000 or 200% of the average trading volume, whichever is less. The agreement may be terminated at any time by the Company or when the total commitment of shares is sold by the Company to the investor. As part of the agreement, the Company issued a $50,000 convertible promissory note convertible at $0.25 per share as a commitment fee (Note 8). On June 1, 2020, the Company entered into private placement agreements with shareholders for issue of 6,666,667 shares (666,667 shares post reverse split) at a price of $0.15 per common share for a total of $1,000,000 gross proceeds. As at December 31, 2020 gross proceeds received are $627,923. As at December 31, 2020, 3,379,000 shares (337,900 shares post reverse split) have been issued and 807,154 shares (80,715 shares post reverse split) are included in common stock to be issued. On June 15, 2020, the Company announced their decision to purchase the film “The Lunatic” from the President and CEO of the operating subsidiary. The purchase price will be in the form of common shares and the number of shares will be set by an independent appraisal of the film expected to take place during the fourth quarter of 2021. On June 17, 2020, the Company announced the acquisition of FilmOla.com, a website for aficionados of film and which can provide a platform for distribution for the Company’s media properties. Payment for this acquisition was in the form of 1,000,000 common shares (100,000 shares post reverse split) of the Company. As at December 31, 2020, these shares have been issued and fair valued at $52,000 based on market price at the time of issue and included in intangible assets. On June 24, 2020, the Company announced the acquisition of rights to the film, Only Minutes On July 1, 2020, the Company entered into private placement agreements with shareholders for issue of 3,333,333 shares (333,333 shares post reverse split) at a price of $0.15 per common share for a total of $500,000 gross proceeds. As at December 31, 2020 gross proceeds received are $371,615 and the respective 2,477,433 shares (247,743 shares post reverse split) are included in common stock to be issued. 9. STOCKHOLDERS’ DEFICIENCY (continued) On July 1, 2020, the Company entered into a private placement agreement with a third party for issue of 3,333,333 shares (333,333 shares post reverse split) at a price of $0.15 per common share for a total of $500,000 gross proceeds of. As at December 31, 2020 gross proceeds received are $434,043. As at December 31, 2020, 322,520 shares (32,252 shares post reverse split) have been issued and 2,571,102 shares (257,110 shares post reverse split) are included in common stock to be issued. On July 28, 2020, the Company announced the acquisition of rights to the film, In the Lair, an addition to the company's growing library of media titles. Payment for this acquisition was in the form of 200,000 common shares (20,000 shares post reverse split) of the Company. As at December 31, 2020, these shares have been issued and fair valued at $10,400 based on market price at the time of issue and included in intangible assets. On August 24, 2020, the Company announced the acquisition of film script Dead Bounty, another significant addition to the company's growing portfolio of films and intellectual property. Payment for this acquisition was in the form of 300,000 common shares (30,000 shares post reverse split) of the Company. As at December 31, 2020, these shares have been issued and fair valued at $15,600 based on market price at the time of issue and included in intangible assets. As at December 31, 2020, the Company has 32,295,157 (December 31, 2019: 31,655,005) shares issued and outstanding common stock (comprising 22,899,680 restricted stock and 9,395,477 unrestricted stock). Preference Stock On June 25, 2014, the Board of Directors authorized the following designations for the class of 20,000,000 Preference Shares of the Company of $ 0.001 par value per share: · Each Preference Share of Series A shall have 100 votes over that of each Common share and shall have rights convertible to 10 Common Shares. · Each Preference Share of Series B shall have no voting rights or power and shall have rights convertible to 10 Common Shares On August 5, 2014, the Company issued 1,000,000 Preference Stock Series “A” pursuant to Share Exchange Agreement. As at December 31, 2020 and December 31, 2019, the Company has 1,000,000 outstanding restricted Preference Stock.

10. RELATED PARTY TRANSACTIONS

10. RELATED PARTY TRANSACTIONS AND BALANCES	12 Months Ended
	Dec. 31, 2020
Notes
10. RELATED PARTY TRANSACTIONS AND BALANCES	10. RELATED PARTY TRANSACTIONS AND BALANCES The Company’s transactions with related parties were carried out on normal commercial terms and in the course of the Company’s business. Other than those disclosed elsewhere in the financial statements, the related party transactions and balances are as follows: On April 1, 2017, the Company entered into a consulting agreement with a shareholder. Pursuant to this agreement, the compensation is $8,200 per month and the duration of the of the agreement is open until terminated by either party. These fees are included in the Management Fees. As at December 31, 2020, this agreement is terminated. 10. RELATED PARTY TRANSACTIONS AND BALANCES (continued) On January 1, 2019, the Company entered into a consulting agreement with a shareholder. Pursuant to this agreement, the compensation is $5,000 per month and the duration of the agreement is open until terminated by either party. These fees are included in the Management Fees. On October 1, 2019, the Company entered into a loan agreement for $99,000 with a shareholder who is also the brother of the President and CEO of the Company. On November 1, 2019, the Company entered into a loan agreement for $85,000 with a shareholder who is also the brother of the President and CEO of the Company. Pursuant to the loan agreement, the loan is unsecured, interest free and repayable on demand within 180 days of written notice of such demand. On January 1, 2020, the Company entered into a loan agreement for $28,000 with a shareholder who is also the brother of the President and CEO of the Company. Pursuant to the loan agreement, the loan is unsecured, interest free and repayable on demand within 180 days of written notice of such demand. On June 1, 2020, the Company entered into a share subscription agreement for 2,333,333 common shares (233,333 shares post reverse split) of the Company at $0.15 per share for a total of $350,000, with a shareholder who is also the brother of the President and CEO of the Company. As at December 31, 2020 gross proceeds received are $47,000 and 313,333 shares (31,333 shares post reverse split) have been issued. On June 15, 2020, the Company announced their decision to purchase the film “The Lunatic” from the President and CEO of the Company. The purchase price will be in the form of common shares and the number of shares will be set by an independent appraisal of the film expected to take place during the fourth quarter of 2021. Management fees for the year ended December 31, 2020 represent charges from directors of $133,690 (December 31, 2019: $158,346). Accounts payable as at December 31, 2020 and December 31, 2019 include $254,922.41 and $211,698, respectively, due to the directors in connection with management fees. As at December 31, 2020, all loans from related parties remain unpaid.

11. COMMITMENTS

11. COMMITMENTS	12 Months Ended
	Dec. 31, 2020
Notes
11. COMMITMENTS	11. COMMITMENTS On September 25, 2019, the Company entered into an agreement with a company who is to provide business advisory and consulting services to the Company for $100,000 per month. The initial term of the agreement was for a period beginning October 7, 2019 and ending November 6, 2019. At the end of each month, the contract shall renew for an additional month unless terminated prior to the 1 st During the year ended December 31, 2020, the Company incurred $800,000 (2019: $nil) in business advisory and consulting services costs included in Consulting Expenses. On September 15, 2020, the Company entered into a Termination Agreement effective January 31, 2020. Pursuant to the termination agreement, the Company will not be liable to make any payments subsequent to January 31, 2020, all prior payments would be deemed full and final for services under the agreement and any unpaid fees as of January 31, 2020 are deemed satisfied and paid in full, resulting in a gain on settlement of $955,000. 11. COMMITMENTS (continued) On May 11, 2020, the Company entered into an agreement with a company who is to assist with investor relations efforts aimed at increasing the investment community’s awareness of Fearless Films (OTC: FERL). Fees for these services are to be mutually agreed as and when services are provided, and the agreement will remain valid unless terminated prior to the 1 st During the year ended December 31, 2020, the Company incurred $1,168,378 in investor relations costs included in professional fees.

12. INCOME TAXES

12. INCOME TAXES	12 Months Ended
	Dec. 31, 2020
Notes
12. INCOME TAXES	12. INCOME TAXES Income taxes The provision for income taxes differs from the amounts which would be provided by applying a combined statutory income tax rates of approximately 21% for the years ended December 31, 2020 and December 31, 2019, as follows: Year ended December 31, 2020 $ Year ended December 31, 2019 $ Net income (loss) before income taxes (1,207,909) (646,904) Expected income tax expense (recovery) (313,692) (143,500) Non-deductible expenses - - Change in valuation allowance 313,692 143,500 Deferred tax assets As at December 31, 2020 $ As at December 31, 2019 $ Non-capital loss carry forwards (1,143,875) (1,000,375) Valuation allowance 1,143,875 1,000,375 - - As of December 31, 2020, and December 31, 2019, the Company determined that a valuation allowance relating to above deferred tax asset of the Company was necessary. This determination was based largely on the negative evidence represented by the losses incurred. The Company decided not to recognize any deferred tax asset, as it is not more likely than not to be realized. Therefore, a valuation allowance of $1,143,875 and $1,000,375, for the years ended December 31, 2020 and December 31, 2019, respectively, was recorded to offset deferred tax assets. 12. INCOME TAXES (continued) Based on the recent change in corporation tax rates the Company calculated the deferred tax asset for the years ended December 31, 2020 and 2019 at 21% compared to the rate of 35% prior to the change in corporation tax rates for previous years. As of December 31, 2020, and December 31, 2019, the Company has approximately $5,317,385 and $4,109,476, respectively, of non-capital losses available to offset future taxable income. For net operating losses arising after December 31, 2017, the 2017 Act limits a taxpayer’s ability to utilize net operating losses carry forwards to 80% of taxable income. In addition, net operating losses arising after 2017 can be carried forward indefinitely, but carry back is generally prohibited. Net operating losses generated in tax years beginning before January 1, 2018 will not be subject to the taxable income limitation. The 2017 Act would generally eliminate the carry back of all net operating losses arising in a tax year ending after 2017 and instead would permit all such net operating losses to be carried forward indefinitely. As at December 31, 2020, the Company is in arrears on filing its statutory corporate income tax returns and the amounts presented above are based on estimates. The actual losses available could differ from these estimates.

12. SUBSEQUENT EVENTS

12. SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2020
Notes
12. SUBSEQUENT EVENTS	13. SUBSEQUENT EVENTS The Company’s management has evaluated subsequent events up to April 15, 2021, the date the consolidated financial statements were issued, pursuant to the requirements of ASC 855 and has determined the following material subsequent events: On January 8, 2021 the Company entered into an agreement with SRAX, Inc. for the provision of Investor awareness services over a 12-month period. As compensation for the first 12 months, SRAX received 1,600,000 restricted shares. As at April 15, 2021 these shares had been issued. The occurrence of the COVID-19 pandemic may negatively affect our business, financial condition and results of operations. We are in the early stages of developing our business plan of building a revenue-producing film service business and becoming an independent producer of television and movie content. Because our business is customer-driven, our revenue requirements will be reviewed and adjusted based on future revenues. Expenses associated with operating as a public company are included in management’s budget. The occurrence of an uncontrollable event such as the COVID-19 pandemic is likely to negatively affect our operations. A pandemic such as COVID-19 can result in social distancing, travel bans and quarantines, which can lead to limited access to customers, management, support staff, consultants and professional advisors. These, in turn, will not only impact our operations, financial condition and demand for our services and products, but our overall ability to react timely to mitigate the impact of the event. It may also substantially hamper our efforts to provide investors with timely information and our ability to comply with filing obligations with the SEC.

4. SUMMARY OF SIGNIFICANT ACC_2

4. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Cash and Cash Equivalents (Policies)	12 Months Ended
	Dec. 31, 2020
Policies
Cash and Cash Equivalents	Cash and Cash Equivalents Cash includes cash on hand and balances with banks.

4. SUMMARY OF SIGNIFICANT ACC_3

4. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Use of Estimates (Policies)	12 Months Ended
	Dec. 31, 2020
Policies
Use of Estimates	Use of Estimates The preparation of consolidated financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Areas involving significant estimates and assumptions include, fair value of stock options or services offered, deferred income tax assets and related valuation allowance, and accruals. Actual results could differ from those estimates. These estimates are reviewed periodically, and, as adjustments become necessary, they are reported in earnings in the period in which they become known.

4. SUMMARY OF SIGNIFICANT ACC_4

4. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Earnings (Loss) Per Share (Policies)	12 Months Ended
	Dec. 31, 2020
Policies
Earnings (Loss) Per Share	Earnings (Loss) Per Share The Company has adopted the Financial Accounting Standards Board’s (“FASB”) Accounting Standards Codification (“ASC”) Topic 260-10 which provides for calculation of “basic” and “diluted” earnings per share. Basic earnings per share includes no dilution and is computed by dividing net income or loss available to common stockholders by the weighted average number of common shares outstanding for the period. Diluted earnings per share reflect the potential dilution of securities that could share in the earnings of an entity. Diluted earnings per share reflect the potential dilution of securities that could share in the earnings of an entity. Diluted earnings per share exclude all potentially dilutive shares if their effect is anti-dilutive. Series A are convertible into common, and potentially dilutive.

4. SUMMARY OF SIGNIFICANT ACC_5

4. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Foreign Currency Translation (Policies)	12 Months Ended
	Dec. 31, 2020
Policies
Foreign Currency Translation	Foreign Currency Translation The functional currency of the parent Company is United States dollar and the functional currency of the subsidiary is Canadian dollar. Transactions denominated in currencies other than the functional currency are translated into the functional currency at the exchange rates prevailing at the dates of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated using the exchange rate prevailing at the balance sheet date. Non-monetary assets and liabilities are translated using the historical rate on the date of the transaction. All exchange gains or losses arising from translation of these foreign currency transactions are included in net loss for the year. In translating the financial statements of the Company’s Canadian subsidiary from its functional currency into the Company’s reporting currency of United States dollars, balance sheet accounts are translated using the closing exchange rate in effect at the balance sheet date and income and expense accounts are translated using an average exchange rate prevailing during the reporting period. Adjustments resulting from the translation, if any, are included in accumulated other comprehensive income (loss) in stockholders’ equity. The Company has not, to the date of these consolidated financial statements, entered into derivative instruments to offset the impact of foreign currency fluctuations.

4. SUMMARY OF SIGNIFICANT ACC_6

4. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Advertising and Marketing Costs (Policies)	12 Months Ended
	Dec. 31, 2020
Policies
Advertising and Marketing Costs	Advertising and Marketing Costs Advertising and marketing costs are expensed as incurred. During the years ended December 31, 2020 and December 31, 2019, the Company incurred $1,325 and $5,573 respectively in advertising and marketing costs included in General and Administrative costs.

4. SUMMARY OF SIGNIFICANT ACC_7

4. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Revenue Recognition (Policies)	12 Months Ended
	Dec. 31, 2020
Policies
Revenue Recognition	Revenue Recognition In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers (Topic 606). This standard provides a single set of guidelines for revenue recognition to be used across all industries and requires additional disclosures. The updated guidance introduces a five-step model to achieve its core principal of the entity recognizing revenue to depict the transfer of goods or services to customers at an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The Company adopted the updated guidance effective January 1, 2018 using the full retrospective method. Under ASC 606, in order to recognize revenue, the Company is required to identify an approved contract with commitments to preform respective obligations, identify rights of each party in the transaction regarding goods to be transferred, identify the payment terms for the goods transferred, verify that the contract has commercial substance and verify that collection of substantially all consideration is probable. The adoption of ASC 606 did not have an impact on the Company’s operations or cash flows since the Company has not started earning any revenue.

4. SUMMARY OF SIGNIFICANT ACC_8

4. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Fair Value of Financial Instruments (Policies)	12 Months Ended
	Dec. 31, 2020
Policies
Fair Value of Financial Instruments	Fair Value of Financial Instruments ASC 820 defines fair value, establishes a framework for measuring fair value and expands required disclosure about fair value measurements of assets and liabilities. ASC 820-10 defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820-10 also establishes a fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The standard describes three levels of inputs that may be used to measure fair value: ● ● ● In instances where the determination of the fair value measurement is based on inputs from different levels of the fair value hierarchy, the level in the fair value hierarchy within which the entire fair value measurement falls is based on the lowest level input that is significant to the fair value measurement in its entirety. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the asset or liability. Fair value estimates discussed herein are based upon certain market assumptions and pertinent information available to management. The respective carrying value of certain on-balance-sheet financial instruments approximated their fair values due to the short-term nature of these instruments or interest rates that are comparable to market rates. 4. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) These financial instruments include cash and accounts payable. The Company's cash, which is carried at fair value, is classified as a Level 1 financial instrument. The Company’s bank accounts are maintained with financial institutions of reputable credit, therefore, bear minimal credit risk.

4. SUMMARY OF SIGNIFICANT ACC_9

4. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Intangible Assets (Policies)	12 Months Ended
	Dec. 31, 2020
Policies
Intangible Assets	Intangible Assets Intangible assets are initially valued at fair value using generally accepted valuation methods appropriate for the type of intangible asset. Intangible assets with definite lives are amortized over their estimated useful lives and are reviewed for impairment if indicators of impairment arise. Intangible assets with indefinite lives are tested for impairment within one year of acquisitions or annually and whenever indicators of impairment exist. The fair value of intangible assets are compared with their carrying values, and an impairment loss would be recognized for the amount by which the carrying amount exceeds its fair value. The Company considers the intangibles acquired as assets with indefinite life and so not amortized.

4. SUMMARY OF SIGNIFICANT AC_10

4. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Convertible Notes Payable (Policies)	12 Months Ended
	Dec. 31, 2020
Policies
Convertible Notes Payable	Convertible Notes Payable The Company accounted for conversion options embedded in convertible notes in accordance with ASC 815. ASC 815 generally requires companies to bifurcate conversion options embedded in convertible notes from their host instruments and to account for them as free-standing derivative financial instruments. ASC 815 provides for an exception to this rule when convertible notes, as host instruments, are deemed to be conventional, as defined by ASC 815-40. The Company accounts for convertible notes deemed conventional and conversion options embedded in non-conventional convertible notes which qualify as equity under ASC 815, in accordance with the provisions of ASC 470-20, which provides guidance on accounting for convertible securities with beneficial conversion features. Accordingly, the Company records, as a discount to convertible notes, the intrinsic value of such conversion options based upon the differences between the fair value of the underlying common stock at the commitment date of the note transaction and the effective conversion price embedded in the note. Debt discounts under these arrangements are amortized over the term of the related debt.

4. SUMMARY OF SIGNIFICANT AC_11

4. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Stock Based Compensation (Policies)	12 Months Ended
	Dec. 31, 2020
Policies
Stock Based Compensation	Stock Based Compensation The Company accounts for share-based payments in accordance with the provision of ASC 718, which requires that all share-based payments issued to acquire goods or services, including grants of employee stock options, be recognized in the consolidated statement of operations based on their fair values, net of estimated forfeitures. ASC 718 requires forfeitures to be estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. Compensation expense related to share-based awards is recognized over the requisite service period, which is generally the vesting period. The Company accounts for stock-based compensation awards issued to non-employees for services, as prescribed by ASC 718-10, at either the fair value of the services rendered or the instruments issued in exchange for such services, whichever is more readily determinable, using the guidelines in ASC 718. The Company issues compensatory shares for services including, but not limited to, executive, management, accounting, operations, corporate communication, financial and administrative consulting services.

4. SUMMARY OF SIGNIFICANT AC_12

4. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Recently Issued Accounting Pronouncements (Policies)	12 Months Ended
	Dec. 31, 2020
Policies
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements In August 2018, the FASB issued ASU 2018-13, “Changes to Disclosure Requirements for Fair Value Measurements”, which will improve the effectiveness of disclosure requirements for recurring and nonrecurring fair value measurements. The standard removes, modifies, and adds certain disclosure requirements, and is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. The Company has adopted this pronouncement effective January 1, 2020 with no material impact for the Company on the consolidated financial statements given no fair value measurements at this time. In June 2018, the FASB issued an accounting pronouncement (FASB ASU 2018-07) to expand the scope of ASC Topic 718, Compensation - Stock Compensation, to include share-based payment transactions for acquiring goods and services from nonemployees. The pronouncement is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2018, with early adoption permitted. The Company has adopted this pronouncement effective January 1, 2019 with no material impact for the Company on the consolidated financial statements given no outstanding equity awards. In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses: Measurement of Credit Losses on Financial Instruments, which changes the impairment model for most financial assets. This Update is intended to improve financial reporting by requiring timelier recording of credit losses on loans and other financial instruments held by financial institutions and other organizations. The underlying premise of the Update is that financial assets measured at amortized cost should be presented at the net amount expected to be collected, through an allowance for credit losses that is deducted from the amortized cost basis. The allowance for credit losses should reflect management’s current estimate of credit losses that are expected to occur over the remaining life of a financial asset. The income statement will be affected for the measurement of credit losses for newly recognized financial assets, as well as the expected increases or decreases of expected credit losses that have taken place during the period. The new standard is effective for fiscal years and interim periods within those years beginning after December 15, 2022 In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842). This guidance revises the accounting related to leases by requiring lessees to recognize a lease liability and a right-of-use asset for all leases. The new lease guidance also simplifies the accounting for sale and leaseback transactions. This ASU is effective for annual reporting periods beginning after December 15, 2018 and early adoption is permitted. The Company is an emerging growth company and, under the optional 1-year deferral, the Company has adopted this pronouncement effective January 1, 2020 with no material impact for the Company on the consolidated financial statements given no leases at this time.

5. INTANGIBLE ASSETS_ Schedule

5. INTANGIBLE ASSETS: Schedule of Indefinite-Lived Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2020
Tables/Schedules
Schedule of Indefinite-Lived Intangible Assets	December 31, 2020 $ December 31, 2019 $ Rights to an online film marketplace 52,000 - Rights and interests in Films 20,800 - Film Scripts 15,600 - Net carrying value 88,400 -

12. INCOME TAXES_ Schedule of D

12. INCOME TAXES: Schedule of Deferred Tax Assets and Liabilities (Tables)	12 Months Ended
	Dec. 31, 2020
Tables/Schedules
Schedule of Deferred Tax Assets and Liabilities	Year ended December 31, 2020 $ Year ended December 31, 2019 $ Net income (loss) before income taxes (1,207,909) (646,904) Expected income tax expense (recovery) (313,692) (143,500) Non-deductible expenses - - Change in valuation allowance 313,692 143,500 Deferred tax assets As at December 31, 2020 $ As at December 31, 2019 $ Non-capital loss carry forwards (1,143,875) (1,000,375) Valuation allowance 1,143,875 1,000,375 - -

1. NATURE OF OPERATIONS (Detail

1. NATURE OF OPERATIONS (Details)	12 Months Ended
	Dec. 31, 2020shares
Details
Entity Incorporation, State or Country Code	NV
Entity Incorporation, Date of Incorporation	Jul. 6, 2000
Issuance of shares pursuant to share exchange, Shares	30,000,000
Stockholders' Equity, Reverse Stock Split	On October 26, 2020 the Company approved a reverse stock split of its issued and outstanding shares of common stock on a one share for 10 shares (1:10) basis. The reverse stock split was effected on December 8, 2020 with no change in par value. As a result of reverse stock split, the issued and outstanding common stock shares decreased to 32,295,157.

3. GOING CONCERN (Details)

3. GOING CONCERN (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Details
Working Capital Deficit	$ 728,782	$ 818,268
Accumulated deficit	$ (5,317,385)	$ (4,109,476)

4. SUMMARY OF SIGNIFICANT AC_13

4. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Advertising and Marketing Costs (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Details
Marketing and Advertising Expense	$ 1,325	$ 5,573

5. INTANGIBLE ASSETS_ Schedul_2

5. INTANGIBLE ASSETS: Schedule of Indefinite-Lived Intangible Assets (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Intangible Assets	$ 88,400	$ 0
Rights to an online film marketplace
Intangible Assets	52,000	0
Rights and interests in Films
Intangible Assets	20,800	0
Film Scripts
Intangible Assets	$ 15,600	$ 0

6. ACCOUNTS PAYABLE (Details)

6. ACCOUNTS PAYABLE (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Accounts Payable, Related Parties, Current	$ 254,922	$ 211,698
Directors
Accounts Payable, Related Parties, Current	$ 16,504

7. LOANS PAYABLE (Details)

7. LOANS PAYABLE (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Details
Proceeds from Loans Payable	$ 28,000	$ 248,103
Implied interest on loans payable	$ 27,411

8. CONVERTIBLE NOTES PAYABLE (D

8. CONVERTIBLE NOTES PAYABLE (Details) - USD ($)	Dec. 03, 2019	Dec. 31, 2020	Dec. 31, 2019
Details
Stock Issued During Period, Value, Conversion of Convertible Securities		$ 50,000
Debt Discount - BCF on convertible note payable	$ 10,000		$ 10,000
Amortization of debt discount		8,445	1,555
Financing Cost		$ 0	$ 50,000
Shares issued for repayment of convertible notes, Shares		1,000,000
Implied interest on loans payable		$ 40,992

9. STOCKHOLDERS' DEFICIENCY (De

9. STOCKHOLDERS' DEFICIENCY (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Oct. 26, 2020	Dec. 31, 2018	Sep. 23, 2014
Issuance of shares pursuant to share exchange, Shares	30,000,000
Common Stock, Shares Authorized	500,000,000	500,000,000
Common Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001
Preferred Stock, Shares Authorized	20,000,000	20,000,000
Preferred Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001
Equity Purchase Agreement	$ 5,000,000
Stock Issued During Period, Value, Conversion of Convertible Securities	50,000
Issue of Shares for cash	1,433,581	$ 0
Shares issued for acquisition of intangible assets	$ 88,400
Common Stock, Shares, Outstanding	32,295,157	31,655,005
Common Stock, Shares, Issued	32,295,157	31,655,005
Preferred Stock, Shares Issued	1,000,000	1,000,000
Preferred Stock, Shares Outstanding	1,000,000	1,000,000
Series A Preferred Stock
Preferred Stock, Shares Authorized	10,000,000
Preferred Stock, Shares Issued	1,000,000
Series B Preferred Stock
Preferred Stock, Shares Authorized	10,000,000
Rights to an online film marketplace
Shares issued for acquisition of intangible assets, shares	1,000,000
Shares issued for acquisition of intangible assets	$ 52,000
Rights and interests in Films
Shares issued for acquisition of intangible assets, shares	200,000
Shares issued for acquisition of intangible assets	$ 10,400
Rights and interests in Films 2
Shares issued for acquisition of intangible assets, shares	200,000
Shares issued for acquisition of intangible assets	$ 10,400
Film Scripts
Shares issued for acquisition of intangible assets, shares	300,000
Shares issued for acquisition of intangible assets	$ 15,600
Common Stock Issuance 1
Issue of Shares for cash	627,923
Common Stock Issuance 2
Issue of Shares for cash	371,615
Common Stock Issuance 3
Issue of Shares for cash	$ 434,043
Common Stock
Shares, Outstanding	32,295,157	31,655,005	32,295,157	31,655,005	155,289
Issue of Shares for cash	$ 370
Shares issued for acquisition of intangible assets, shares	170,000
Shares issued for acquisition of intangible assets	$ 170

10. RELATED PARTY TRANSACTION_2

10. RELATED PARTY TRANSACTIONS AND BALANCES (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Management fees	$ 133,690	$ 158,346
Accounts Payable, Related Parties, Current	254,922	$ 211,698
Shareholder (1)
Management fees	8,200
Shareholder (2)
Management fees	5,000
Shareholder (3)
Accounts Payable, Related Parties, Current	99,000
Shareholder (4)
Accounts Payable, Related Parties, Current	85,000
Shareholder (5)
Accounts Payable, Related Parties, Current	28,000
Shareholder (6)
Accounts Payable, Related Parties, Current	350,000
Common Stock, Value, Subscriptions	$ 2,333,333

11. COMMITMENTS (Details)

11. COMMITMENTS (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Monthly commitment for business advisory and consulting services	$ 100,000
Consulting Expenses	800,000	$ 300,000
Gain On Settlement Resulting From Termination Agreement	955,000
Commitment 1
Consulting Expenses	800,000	$ 0
Commitment 2
Consulting Expenses	$ 1,168,378

12. INCOME TAXES_ Schedule of_2

12. INCOME TAXES: Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Details
Net income (loss) before income taxes	$ (1,207,909)	$ (646,904)
Expected income tax expense (recovery)	(313,692)	(143,500)
Non-deductible expenses	0	0
Change in valuation allowance	313,692	143,500
Non-capital loss carry forwards	(1,143,875)	(1,000,375)
Valuation allowance	$ 1,143,875	$ 1,000,375

12. INCOME TAXES (Details)

12. INCOME TAXES (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Details
Operating Loss Carryforwards	$ 5,317,385	$ 4,109,476

12. SUBSEQUENT EVENTS (Details)

12. SUBSEQUENT EVENTS (Details)	12 Months Ended
	Dec. 31, 2020
Subsequent Event
Subsequent Event, Description	The occurrence of the COVID-19 pandemic may negatively affect our business, financial condition and results of operations. We are in the early stages of developing our business plan of building a revenue-producing film service business and becoming an independent producer of television and movie content. Because our business is customer-driven, our revenue requirements will be reviewed and adjusted based on future revenues. Expenses associated with operating as a public company are included in management’s budget. The occurrence of an uncontrollable event such as the COVID-19 pandemic is likely to negatively affect our operations. A pandemic such as COVID-19 can result in social distancing, travel bans and quarantines, which can lead to limited access to customers, management, support staff, consultants and professional advisors. These, in turn, will not only impact our operations, financial condition and demand for our services and products, but our overall ability to react timely to mitigate the impact of the event. It may also substantially hamper our efforts to provide investors with timely information and our ability to comply with filing obligations with the SEC.