Fearless Films (FERL) 10-K 29 May 20 2019 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2019	May 29, 2020	Jun. 30, 2019
Details
Registrant CIK	0001122742
Fiscal Year End	--12-31
Registrant Name	FEARLESS FILMS, INC.
SEC Form	10-K
Period End date	Dec. 31, 2019
Tax Identification Number (TIN)	33-0921357
Number of common stock shares outstanding		316,543,316
Public Float			$ 26,339,044
Filer Category	Non-accelerated Filer
Current with reporting	Yes
Interactive Data Current	Yes
Voluntary filer	No
Well-known Seasoned Issuer	No
Shell Company	false
Small Business	true
Emerging Growth Company	true
Ex Transition Period	true
Document Annual Report	true
Document Transition Report	false
Entity File Number	000-31441
Entity Incorporation, State or Country Code	NV
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
Amendment Flag	false
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Dec. 31, 2019	Dec. 31, 2018
ASSETS
Cash	$ 2,779	$ 3,700
Prepaid expenses	1,000	20,163
Total current assets	3,779	23,863
Total assets	3,779	23,863
Liabilities
Accounts payable	417,199	101,119
Accrued liabilities	24,045	11,472
Loan payable	339,248	91,000
Convertible note payable - net of debt discount	41,555	0
Total current liabilities	822,047	203,591
Total liabilities	822,047	203,591
Commitments and contingencies	0	0
Stockholders deficiency
Preferred stock, $0.001 par value, 20,000,000 authorized. 1,000,000 shares issued and outstanding as at December 31, 2019 and December 31, 2018	1,000	1,000
Common shares	316,543	316,543
Additional paid-in-capital	2,576,812	2,566,812
Accumulated other comprehensive income	396,853	398,489
Accumulated deficit	(4,109,476)	(3,462,572)
Total stockholders deficiency	(818,268)	(179,728)
Total liabilities and stockholders deficiency	$ 3,779	$ 23,863

Consolidated Balance Sheets - P

Consolidated Balance Sheets - Parenthetical - $ / shares	Dec. 31, 2019	Dec. 31, 2018
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	316,543,317	316,543,317
Common Stock, Shares, Outstanding	316,543,317	316,543,317

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Details
REVENUE	$ 0	$ 0
EXPENSES
General and administrative	37,848	22,009
Consulting Expenses	300,000	0
Management fees	158,346	98,400
Stock based compensation	0	23,100
Professional fees	87,780	44,084
Total operating expenses	583,974	187,593
(Loss) / Gain on settlement of payables	0	(725,071)
Interest Expense	(9,510)	0
Amortization of debt discount	(1,555)	0
Financing Cost	(50,000)	0
Exchange (Loss) / Gain	(1,865)	(64,117)
Net (loss) income before income taxes	(646,904)	(976,781)
Income taxes	0	0
Net Income (Loss)	(646,904)	(976,781)
Foreign currency translation adjustment	(1,636)	75,554
Comprehensive (loss) income	$ (648,540)	$ (901,227)
(Loss) earnings per share - basic	$ 0	$ (0.01)
(Loss) earnings per share - diluted	$ 0	$ (0.01)
Weighted average number of common shares
Basic	316,543,317	110,367,149
Diluted	326,743,317	120,367,149

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Deficiency - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Preferred Stock
Stockholders' Equity Attributable to Parent, Beginning Balance	$ 1,000	$ 1,000
Shares, Outstanding, Beginning Balance	1,000,000	1,000,000
Issuance of shares pursuant to share exchange, Value		$ 0
Issuance of Stock and Warrants for Services or Claims		0
Issuance of shares for debt settlement of third party, Value		0
Issuance of shares for debt settlement of shareholder, Value		0
Foreign currency translation adjustment	$ 0	0
Debt Discount - BCF on convertible note payable	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	$ 316,543	$ 155
Shares, Outstanding, Beginning Balance	316,543,317	155,289
Issuance of shares pursuant to share exchange, Value		$ 30,000
Issuance of shares pursuant to share exchange, Shares		30,000,000
Issuance of Stock and Warrants for Services or Claims		$ 3,300
Stock Issued During Period, Shares, Issued for Services		3,300,000
Issuance of shares for debt settlement of third party, Value		$ 121,095
Issuance of shares for debt settlement of third party, Shares		121,095,200
Issuance of shares for debt settlement of shareholder, Value		$ 161,993
Issuance of shares for debt settlement of shareholder, Shares		161,992,828
Foreign currency translation adjustment	$ 0	$ 0
Debt Discount - BCF on convertible note payable	0
Net Income (Loss)	0	0
Stockholders' Equity Attributable to Parent, Ending Balance	$ 316,543	$ 316,543
Shares, Outstanding, Ending Balance	316,543,317	316,543,317
Common Stock to be Issued
Stockholders' Equity Attributable to Parent, Beginning Balance	$ 0	$ 30,250
Shares, Outstanding, Beginning Balance		30,250,000
Issuance of shares pursuant to share exchange, Value		$ (30,000)
Issuance of shares pursuant to share exchange, Shares		(30,000,000)
Issuance of Stock and Warrants for Services or Claims		$ 0
Stock Issued During Period, Shares, Issued for Services		0
Issuance of shares for debt settlement of third party, Value		$ (250)
Issuance of shares for debt settlement of third party, Shares		(250,000)
Issuance of shares for debt settlement of shareholder, Value		$ 0
Foreign currency translation adjustment	0	0
Debt Discount - BCF on convertible note payable	0
Net Income (Loss)	0	0
Stockholders' Equity Attributable to Parent, Ending Balance	0	0
Additional Paid-in Capital
Stockholders' Equity Attributable to Parent, Beginning Balance	2,566,812	849,984
Issuance of shares pursuant to share exchange, Value		0
Issuance of Stock and Warrants for Services or Claims		19,800
Issuance of shares for debt settlement of third party, Value		725,071
Issuance of shares for debt settlement of shareholder, Value		971,957
Foreign currency translation adjustment	0	0
Debt Discount - BCF on convertible note payable	10,000
Net Income (Loss)	0	0
Stockholders' Equity Attributable to Parent, Ending Balance	2,576,812	2,566,812
AOCI Attributable to Parent
Stockholders' Equity Attributable to Parent, Beginning Balance	398,489	322,935
Issuance of shares pursuant to share exchange, Value		0
Issuance of Stock and Warrants for Services or Claims		0
Issuance of shares for debt settlement of third party, Value		0
Issuance of shares for debt settlement of shareholder, Value		0
Foreign currency translation adjustment	(1,636)	75,554
Debt Discount - BCF on convertible note payable	0
Net Income (Loss)	0	0
Stockholders' Equity Attributable to Parent, Ending Balance	396,853	398,489
Retained Earnings
Stockholders' Equity Attributable to Parent, Beginning Balance	(3,462,572)	(2,485,791)
Issuance of shares pursuant to share exchange, Value		0
Issuance of Stock and Warrants for Services or Claims		0
Issuance of shares for debt settlement of third party, Value		0
Issuance of shares for debt settlement of shareholder, Value		0
Foreign currency translation adjustment	0	0
Debt Discount - BCF on convertible note payable	0
Net Income (Loss)	(646,904)	(976,781)
Stockholders' Equity Attributable to Parent, Ending Balance	(4,109,476)	(3,462,572)
Stockholders' Equity Attributable to Parent, Beginning Balance	$ (179,728)	(1,281,467)
Issuance of shares pursuant to share exchange, Value		$ 0
Issuance of shares pursuant to share exchange, Shares	30,000,000	30,000,000
Issuance of Stock and Warrants for Services or Claims		$ 23,100
Issuance of shares for debt settlement of third party, Value		845,916
Issuance of shares for debt settlement of shareholder, Value		1,133,950
Foreign currency translation adjustment	$ (1,636)	75,554
Debt Discount - BCF on convertible note payable	10,000
Net Income (Loss)	(646,904)	(976,781)
Stockholders' Equity Attributable to Parent, Ending Balance	$ (818,268)	$ (179,728)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Net Cash Provided by (Used in) Operating Activities
Net Income (Loss)	$ (646,904)	$ (976,781)
Adjustments to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities
Stock based compensation	0	23,100
Loss/(Gain) on settlement of accounts and loans payables	0	725,071
Amortization of debt discount	1,555	0
Financing Cost	50,000	0
Changes in operating assets and liabilities:
Prepaid expenses	19,729	(21,188)
Accounts payable	315,702	38,149
Accrued liabilities	11,943	2,680
Cash used in operating activities	(247,975)	(208,969)
Net Cash Provided by (Used in) Financing Activities
Proceeds from Loans Payable	248,103	149,276
Repayments to a shareholder	0	(3,203)
Cash provided by financing activities	248,103	146,073
Net increase (decrease) in cash during the period	128	(62,896)
Effect of foreign currency translation	(1,049)	64,714
Cash at beginning	3,700	1,882
Cash at end	2,779	3,700
Non Cash Transactions
Conversion of debt into equity	0	1,979,866
Issuance of convertible note as commitment fee for an equity purchase agreement	50,000	0
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, 2019
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.

2. BASIS OF PRESENTATION, MEASU

2. BASIS OF PRESENTATION, MEASUREMENT AND CONSOLIDATION	12 Months Ended
	Dec. 31, 2019
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, 2019 and 2018 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, 2019
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, 2019 and December 31, 2018 and had a working capital deficiency of $818,268 and $179,728, respectively and an accumulated deficit of $4,109,476 and $3,462,572, 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 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, 2019
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. Advertising and Marketing Costs Advertising and marketing costs are expensed as incurred. During the years ended December 31, 2019 and December 31, 2018, the Company incurred $5,573 and $1,115 respectively in advertising and marketing costs included in General and Administrative costs. 4. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) 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. 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. During the year ended December 31, 2018, the Company converted debt to equity and valued the equity using Level 3 inputs. 4. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) 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. 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 will be evaluating the impact this standard will have on the Company’s financial statements. 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. 4. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) 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, will implement and evaluate ASC 842 beginning on January 1, 2020, however the Company expects no material impact given the Company has no leases at this time.

5. ACCOUNTS PAYABLE

5. ACCOUNTS PAYABLE	12 Months Ended
	Dec. 31, 2019
Notes
5. ACCOUNTS PAYABLE	5. ACCOUNTS PAYABLE As at December 31, 2019, total accounts payable include $211,698 payable to directors of the Company and $155,000 payable to a company for business advisory and consulting services pursuant to Note 10.

6. LOANS PAYABLE

6. LOANS PAYABLE	12 Months Ended
	Dec. 31, 2019
Notes
6. LOANS PAYABLE	6. LOANS PAYABLE On September 21, 2018, the Company finalized certain Debt Settlement Agreements with third party loan holders of the Company. Pursuant to these agreements, the Company issued 120,845,200 common shares which were fair valued at $845,916 based on the reacquisition price of the shareholder debt resulting in a loss of $725,071 on settlement of the debt. During the year ended December 31, 2018, the Company settled $119,708 of all loans raised pursuant to the debt settlement agreements of September 21, 2018. During the year ended December 31, 2019, the Company entered into loan agreements with third parties and shareholders and raised in total gross proceeds of $248,103 (December 31, 2018: $149,276). 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, 2019. As at December 31, 2019, accrued liabilities include implied interest on loans payable of $9,113.

7. CONVERTIBLE NOTES PAYABLE

7. CONVERTIBLE NOTES PAYABLE	12 Months Ended
	Dec. 31, 2019
Notes
7. CONVERTIBLE NOTES PAYABLE	7. 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 8. 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. 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, 2019, $1,555 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. An interest amount of $397 has been accrued on the convertible note.

8. STOCKHOLDERS' DEFICIENCY

8. STOCKHOLDERS' DEFICIENCY	12 Months Ended
	Dec. 31, 2019
Notes
8. STOCKHOLDERS' DEFICIENCY	8. 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. 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. 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 7). On September 21, 2018, the Company approved to issue 161,992,828 Common Shares in connection with a Debt Settlement agreement with a shareholder. Pursuant to this agreement, the Company issued 161,992,828 common shares which were fair valued at $1,133,950 denominated in Canadian Dollar (CAD 1,465,063). The settlement with a shareholder was deemed a recapitalization with the fair value being based on the debt reacquisition price or carrying value of the debt. The related debt was reduced by this amount and accordingly no gain or loss was recorded on settlement On September 21, 2018, the Company approved to issue 120,845,200 Common Shares in connection with Debt Settlement agreements with third party loan holders as explained in Note 7 to the consolidated financial statements of the Company. On September 21, 2018, the Company approved to issue 3,300,000 Common Shares in connection with Director compensation for past services. On September 21, 2018, the Company issued 30,000,000 Common Shares pursuant to Share Exchange Agreement. As at December 31, 2019 and December 31, 2018, the Company has 316,543,317 outstanding common stock (comprising 297,891,880 restricted stock and 18,651,437 unrestricted stock). 8. STOCKHOLDERS’ DEFICIENCY (continued) 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, 2019 and December 31, 2018, the Company has 1,000,000 outstanding restricted Preference Stock.

9. RELATED PARTY TRANSACTIONS A

9. RELATED PARTY TRANSACTIONS AND BALANCES	12 Months Ended
	Dec. 31, 2019
Notes
9. RELATED PARTY TRANSACTIONS AND BALANCES	9. 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. 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 operating subsidiary. 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 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 operating subsidiary. Pursuant to the loan agreement, the loan is unsecured, interest free and repayable on demand within 180 days of written notice of such demand. Management fees for the year ended December 31, 2019 represent charges from directors of $158,346 (December 31, 2018: $98,400). Accounts payable as at December 31, 2019 and December 31, 2018 include $211,698 and $100,144, respectively, due to the directors in connection with management fees. As at December 31, 2019, all loans from related parties remain unpaid.

10. COMMITMENTS

10. COMMITMENTS	12 Months Ended
	Dec. 31, 2019
Notes
10. COMMITMENTS	10. 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, 2019, the Company incurred $300,000 in business advisory and consulting services costs included in Consulting Expenses. As at December 31, 2019, $155,000 remains unpaid and included in accounts payable.

11. INCOME TAXES

11. INCOME TAXES	12 Months Ended
	Dec. 31, 2019
Notes
11. INCOME TAXES	11. 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, 2018 and December 31, 2017, as follows: Deferred tax assets Year ended December 31, 2019 Year ended December 31, 2018 $ $ Net income (loss) before income taxes (646,904) (976,781) Expected income tax expense (recovery) (143,500) (207,867) Non-deductible expenses — — Change in valuation allowance 143,500 207,867 — — As at December 31, 2019 As at December 31, 2018 Non-capital loss carry forwards (1,143,549) (1,000,375) Valuation allowance 1,143,549 1,000,375 — — 11. INCOME TAXES (continued) As of December 31, 2019, and December 31, 2018, 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, 2019 and December 31, 2018, respectively, was recorded to offset deferred tax assets. Based on the recent change in corporation tax rates the Company calculated the deferred tax asset for the years ended December 31, 2019 and 2018 at 21% compared to the rate of 35% prior to the change in corporation tax rates for previous years. As of December 31, 2019, and December 31, 2018, the Company has approximately $4,109,476 and $3,462,572, 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 February 28, 2019, 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, 2019
Notes
12. SUBSEQUENT EVENTS	12. SUBSEQUENT EVENTS The Company’s management has evaluated subsequent events up to May 29, 2020, 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 1, 2020, the Company entered into a loan agreement for $28,000 with a shareholder. 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 6, 2020, the company announced the acquisition of a theatrical film “The Great Chameleon,” from a shareholder. The purchase price of the film is to be determined by an independent third-party valuation firm and will be binding on both parties. 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, 2019
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, 2019
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, 2019
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, 2019
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, 2019
Policies
Advertising and Marketing Costs	Advertising and Marketing Costs Advertising and marketing costs are expensed as incurred. During the years ended December 31, 2019 and December 31, 2018, the Company incurred $5,573 and $1,115 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, 2019
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, 2019
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. 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. During the year ended December 31, 2018, the Company converted debt to equity and valued the equity using Level 3 inputs.

4. SUMMARY OF SIGNIFICANT ACC_9

4. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Convertible Notes Payable (Policies)	12 Months Ended
	Dec. 31, 2019
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_10

4. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Stock Based Compensation (Policies)	12 Months Ended
	Dec. 31, 2019
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_11

4. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Recently Issued Accounting Pronouncements (Policies)	12 Months Ended
	Dec. 31, 2019
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 will be evaluating the impact this standard will have on the Company’s financial statements. 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. 4. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) 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, will implement and evaluate ASC 842 beginning on January 1, 2020, however the Company expects no material impact given the Company has no leases at this time.

11. INCOME TAXES_ Schedule of D

11. INCOME TAXES: Schedule of Deferred Tax Assets and Liabilities (Tables)	12 Months Ended
	Dec. 31, 2019
Tables/Schedules
Schedule of Deferred Tax Assets and Liabilities	Year ended December 31, 2019 Year ended December 31, 2018 $ $ Net income (loss) before income taxes (646,904) (976,781) Expected income tax expense (recovery) (143,500) (207,867) Non-deductible expenses — — Change in valuation allowance 143,500 207,867 — — As at December 31, 2019 As at December 31, 2018 Non-capital loss carry forwards (1,143,549) (1,000,375) Valuation allowance 1,143,549 1,000,375 — —

1. NATURE OF OPERATIONS (Detail

1. NATURE OF OPERATIONS (Details) - shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
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	30,000,000
Stockholders' Equity, Reverse Stock Split	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.

3. GOING CONCERN (Details)

3. GOING CONCERN (Details) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Details
Working Capital Deficit	$ 818,268	$ 179,728
Accumulated deficit	$ (4,109,476)	$ (3,462,572)

4. SUMMARY OF SIGNIFICANT AC_12

4. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Advertising and Marketing Costs (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Details
Marketing and Advertising Expense	$ 5,573	$ 1,115

5. ACCOUNTS PAYABLE (Details)

5. ACCOUNTS PAYABLE (Details) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Details
Accounts Payable, Related Parties, Current	$ 211,698	$ 100,144
Accounts Payable, business advisory and consulting services, current	$ 155,000

6. LOANS PAYABLE (Details)

6. LOANS PAYABLE (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Issuance of shares for debt settlement of third party, Value		$ 845,916
Loss/(Gain) on settlement of accounts and loans payables	$ 0	725,071
Debt settled pursuant to debt settlement agreement		119,708
Proceeds from Loans Payable	248,103	$ 149,276
Implied interest on loans payable	$ 9,113

7. CONVERTIBLE NOTES PAYABLE (D

7. CONVERTIBLE NOTES PAYABLE (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Details
Issuance of convertible note as commitment fee for an equity purchase agreement	$ 50,000	$ 0
Debt Discount - BCF on convertible note payable	10,000
Amortization of debt discount	1,555	0
Financing Cost	$ 50,000	$ 0

8. STOCKHOLDERS' DEFICIENCY (De

8. STOCKHOLDERS' DEFICIENCY (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Sep. 23, 2014
Issuance of shares pursuant to share exchange, Shares	30,000,000	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
Issuance of convertible note as commitment fee for an equity purchase agreement	$ 50,000	$ 0
Issuance of shares for debt settlement of shareholder, Value		1,133,950
Issuance of common shares for debt settlement of third party loan holders		120,845,200
Issuance of shares for debt settlement of third party, Value		845,916
Issuance of common shares for compensation for past services		$ 3,300,000
Common Stock, Shares, Outstanding	316,543,317	316,543,317
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
Common Stock
Issuance of shares pursuant to share exchange, Shares		30,000,000
Shares, Outstanding	316,543,317	316,543,317	155,289	155,289
Issuance of shares for debt settlement of shareholder, Shares		161,992,828
Issuance of shares for debt settlement of shareholder, Value		$ 161,993
Issuance of shares for debt settlement of third party, Value		$ 121,095

9. RELATED PARTY TRANSACTIONS_2

9. RELATED PARTY TRANSACTIONS AND BALANCES (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Management fees	$ 158,346	$ 98,400
Accounts Payable, Related Parties, Current	211,698	$ 100,144
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

10. COMMITMENTS (Details)

10. COMMITMENTS (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Details
Monthly commitment for business advisory and consulting services	$ 100,000
Consulting Expenses	300,000	$ 0
Accounts Payable, business advisory and consulting services, current	$ 155,000

11. INCOME TAXES_ Schedule of_2

11. INCOME TAXES: Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Details
Net income (loss) before income taxes	$ (646,904)	$ (976,781)
Expected income tax expense (recovery)	(143,500)	(207,867)
Non-deductible expenses	0	0
Change in valuation allowance	143,500	207,867
Non-capital loss carry forwards	(1,143,549)	(1,000,375)
Valuation allowance	$ 1,143,549	$ 1,000,375

11. INCOME TAXES (Details)

11. INCOME TAXES (Details) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Details
Operating Loss Carryforwards	$ 4,109,476	$ 3,462,572