Cover
Cover | 9 Months Ended |
Sep. 30, 2022 | |
Cover [Abstract] | |
Document Type | S-1/A |
Amendment Flag | true |
Amendment Description | Amendment No. 3 |
Entity Registrant Name | CARBONMETA TECHNOLOGIES, INC. |
Entity Central Index Key | 0001156784 |
Entity Primary SIC Number | 7349 |
Entity Tax Identification Number | 95-4868120 |
Entity Incorporation, State or Country Code | DE |
Entity Address, Address Line One | 13110 NE 177th Place |
Entity Address, Address Line Two | Suite 145 |
Entity Address, City or Town | Woodinville |
Entity Address, State or Province | WA |
Entity Address, Postal Zip Code | 98072 |
City Area Code | (844) |
Local Phone Number | 698-3777 |
Entity Filer Category | Non-accelerated Filer |
Entity Small Business | true |
Entity Emerging Growth Company | true |
Elected Not To Use the Extended Transition Period | true |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) | Sep. 30, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
CURRENT ASSETS: | |||
Cash | $ 7,054 | $ 10,573 | |
Accounts receivable | 9,439 | ||
Inventory | 3,157 | ||
Prepaid consulting fees | 30,000 | ||
Total Current Assets | 19,650 | 40,573 | |
Property and equipment, net of accumulated depreciation of $2,704 at December 31, 2021 | 32,804 | 44,420 | |
License, net of accumulated amortization of $4,603 at December 31, 2021 | 144,872 | 74,653 | |
TOTAL ASSETS | 197,326 | 159,646 | |
CURRENT LIABILITIES: | |||
Accounts payable and accrued expenses | 11,100,116 | 10,641,864 | 11,944,374 |
Obligations collateralized by receivables | 206,236 | 206,236 | 295,811 |
Convertible debt, net | 2,091,560 | 1,987,425 | 4,549,479 |
Notes payable | 154,873 | 127,873 | 136,123 |
Notes payable - related parties | 199,415 | 199,415 | 157,854 |
Small business administration loan | 979,950 | 979,950 | 979,950 |
Derivative liability | 10,918,883 | 11,904,070 | 21,713,986 |
Total Current Liabilities | 25,651,033 | 26,046,833 | 39,777,577 |
TOTAL LIABILITIES | 25,651,033 | 26,046,833 | 39,777,577 |
Commitments and contingencies | |||
STOCKHOLDERS’ DEFICIT: | |||
Common stock; 35,000,000,000 and 35,000,000,000 shares authorized at $0.0001 par value, 17,592,057,165 and 13,701,742,065 shares issued, respectively; 17,403,876,165 and 13,513,561,065 shares outstanding, respectively | 1,877,789 | 1,759,206 | 1,370,174 |
Additional paid-in capital | 37,495,569 | 36,775,736 | 31,543,325 |
Treasury stock – 188,181,000 shares of common stock | (18,997) | (18,997) | (18,997) |
Accumulated other comprehensive income | (2,029) | ||
Accumulated deficit | (64,807,335) | (64,404,388) | (72,673,335) |
TOTAL STOCKHOLDERS’ DEFICIT | (25,453,707) | (25,887,187) | (39,777,577) |
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT | 197,326 | 159,646 | |
Redeemable Preferred Stock Series A [Member] | |||
STOCKHOLDERS’ DEFICIT: | |||
Redeemable convertible preferred stock | |||
Redeemable Preferred Stock Series B [Member] | |||
STOCKHOLDERS’ DEFICIT: | |||
Redeemable convertible preferred stock | 160 | 160 | 160 |
Redeemable Preferred Stock Series C [Member] | |||
STOCKHOLDERS’ DEFICIT: | |||
Redeemable convertible preferred stock | |||
Redeemable Preferred Stock Series D [Member] | |||
STOCKHOLDERS’ DEFICIT: | |||
Redeemable convertible preferred stock | 100 | 100 | 100 |
Redeemable Preferred Stock Series E [Member] | |||
STOCKHOLDERS’ DEFICIT: | |||
Redeemable convertible preferred stock | 821 | 791 | 791 |
Redeemable Preferred Stock Series F [Member] | |||
STOCKHOLDERS’ DEFICIT: | |||
Redeemable convertible preferred stock | 190 | 180 | 180 |
Redeemable Preferred Stock Series G [Member] | |||
STOCKHOLDERS’ DEFICIT: | |||
Redeemable convertible preferred stock | $ 25 | $ 25 | $ 25 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) | Sep. 30, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | $ 14,320 | $ 2,704 | |
Finite-Lived Intangible Assets, Accumulated Amortization | 25,631 | 4,603 | |
Debt discounts cost | $ 161,099 | $ 6,178 | |
Common stock, shares authorized | 35,000,000,000 | 35,000,000,000 | 35,000,000,000 |
Common stock, par value | $ 0.0001 | $ 0.0001 | |
Common stock, shares issued | 18,777,886,254 | 17,592,057,165 | 13,701,742,065 |
Common stock, shares outstanding | 18,589,705,254 | 17,403,876,165 | 13,513,561,065 |
Treasury stock, common shares | 188,181,000 | 188,181,000 | 188,181,000 |
Redeemable Preferred Stock Series A [Member] | |||
Preferred stock, par value | $ 0.001 | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized | 125,000 | 125,000 | 125,000 |
Preferred stock, shares issued | 0 | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 | 0 |
Redeemable Preferred Stock Series B [Member] | |||
Preferred stock, par value | $ 0.001 | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized | 525,000 | 525,000 | 525,000 |
Preferred stock, shares issued | 159,666 | 159,666 | 159,666 |
Preferred stock, shares outstanding | 159,666 | 159,666 | 159,666 |
Redeemable Preferred Stock Series C [Member] | |||
Preferred stock, par value | $ 0.001 | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized | 500,000 | 500,000 | 500,000 |
Preferred stock, shares issued | 0 | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 | 0 |
Redeemable Preferred Stock Series D [Member] | |||
Preferred stock, par value | $ 0.001 | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized | 500,000 | 500,000 | 500,000 |
Preferred stock, shares issued | 100,000 | 100,000 | 100,000 |
Preferred stock, shares outstanding | 100,000 | 100,000 | 100,000 |
Redeemable Preferred Stock Series E [Member] | |||
Preferred stock, par value | $ 0.001 | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized | 1,000,000 | 1,000,000 | 1,000,000 |
Preferred stock, shares issued | 821,377 | 791,567 | 791,567 |
Preferred stock, shares outstanding | 821,377 | 791,567 | 791,567 |
Redeemable Preferred Stock Series F [Member] | |||
Preferred stock, par value | $ 0.001 | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized | 500,000 | 500,000 | 500,000 |
Preferred stock, shares issued | 190,000 | 180,000 | 180,000 |
Preferred stock, shares outstanding | 190,000 | 180,000 | 180,000 |
Redeemable Preferred Stock Series G [Member] | |||
Preferred stock, par value | $ 0.001 | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized | 500,000 | 500,000 | 500,000 |
Preferred stock, shares issued | 25,000 | 25,000 | 25,000 |
Preferred stock, shares outstanding | 25,000 | 25,000 | 25,000 |
Licensing Agreements [Member] | |||
Finite-Lived Intangible Assets, Accumulated Amortization | $ 25,631 | $ 4,603 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | Dec. 31, 2021 | Dec. 31, 2020 | |
Income Statement [Abstract] | ||||||
Revenues | $ 27,987 | $ 4 | ||||
Operating expenses: | ||||||
Chief executive officer compensation | 37,500 | 37,500 | 112,500 | 112,500 | ||
Executive compensation | 150,000 | 150,000 | ||||
Legal and professional fees | 87,145 | 84,105 | 255,154 | 84,105 | 88,767 | |
Investor relations | 25,357 | 13,890 | 61,139 | 13,890 | 53,334 | |
Consulting fees | 6,948 | 15,800 | 28,839 | 15,800 | 75,170 | |
Sales and marketing | 18,451 | 53,878 | 666 | |||
Research and development | 6,176 | 14,820 | 0 | 0 | ||
Amortization of license | 6,598 | 21,028 | 4,603 | |||
Depreciation of equipment | 3,914 | 11,616 | 2,704 | |||
Other operating expenses | 19,226 | 25,946 | 99,433 | 25,946 | 53,258 | |
Total operating expenses | 211,315 | 177,241 | 658,407 | 252,241 | 428,502 | 150,000 |
Operating (loss) | (183,328) | (177,241) | (608,865) | (252,241) | (428,502) | (150,000) |
Other income (expenses): | ||||||
Gain (loss) from derivative liability | 6,837,508 | 51,922,621 | 981,881 | 2,561,820 | 9,809,916 | (10,401,881) |
Interest expense | (301,854) | (178,151) | (788,963) | (697,571) | (923,274) | (1,177,860) |
Gain on extinguishment of debt | (2,000) | 149,103 | (7,000) | 149,103 | 160,807 | |
Consulting fees relating to the Mutual Release and Settlement Agreement dated July 19, 2021 with Y.A. Global Investments, LP (Note H) | (350,000) | |||||
Total other income (expenses) - net | 6,533,654 | 51,893,573 | 185,918 | 2,013,352 | 8,697,449 | (11,579,741) |
Income (loss) before income taxes | 6,350,326 | 51,716,332 | (422,947) | 1,761,111 | 8,268,947 | (11,729,741) |
Income tax provision | ||||||
Net income (loss) | $ 6,350,326 | $ 51,716,332 | $ (422,947) | $ 1,761,111 | $ 8,268,947 | $ (11,729,741) |
Net income (loss) per common share: | ||||||
Net income (loss) per common share – basic and diluted | $ 0.0003 | $ 0.0035 | $ 0 | $ 0.0001 | $ 0 | $ 0 |
Basic and diluted weighted-average common shares outstanding | 18,748,701,469 | 14,614,738,324 | 18,573,169,633 | 16,447,918,088 | 14,804,048,985 | 13,513,561,065 |
Comprehensive income (loss): | ||||||
Net income (loss) | $ 6,350,326 | $ 51,716,332 | $ (422,947) | $ 1,761,111 | $ 8,268,947 | $ (11,729,741) |
Foreign currency translation adjustments | (11,422) | (2,029) | ||||
Comprehensive income (loss) | $ 6,338,904 | $ 51,716,332 | $ (424,976) | $ 1,761,111 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Operations and Comprehensive Loss (Parenthetical) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Share based compensation | $ 0 | $ 0 | $ 55,000 | $ 0 |
Amortization of debt discounts | 58,443 | 1,302 | 104,035 | 1,302 |
Selling and Marketing Expense [Member] | ||||
Share based compensation | $ 1,389 | $ 0 | $ 25,000 | $ 0 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Deficit - USD ($) | Preferred Stock [Member] Redeemable Preferred Stock [Member] | Preferred Stock [Member] Redeemable Preferred Stock Series B [Member] | Preferred Stock [Member] Redeemable Preferred Stock Series D [Member] | Preferred Stock [Member] Redeemable Preferred Stock Series E [Member] | Preferred Stock [Member] Redeemable Preferred Stock Series F [Member] | Preferred Stock [Member] Redeemable Preferred Stock Series G [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Treasury Stock [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total |
Beginning balance, value at Dec. 31, 2019 | $ 1,256 | $ 1,370,174 | $ 31,543,325 | $ (18,997) | $ (60,943,594) | $ (28,047,836) | ||||||
Beginning balance, shares at Dec. 31, 2019 | 159,666 | 100,000 | 791,567 | 180,000 | 25,000 | 13,701,742,065 | ||||||
Net income loss | (11,729,741) | (11,729,741) | ||||||||||
Ending balance, value at Dec. 31, 2020 | (39,777,577) | |||||||||||
Ending balance, shares at Dec. 31, 2020 | 159,666 | 100,000 | 791,567 | 180,000 | 25,000 | 13,701,742,065 | ||||||
Beginning balance, value at Dec. 31, 2020 | 1,256 | $ 1,370,174 | 31,543,285 | (18,997) | (72,765,594) | $ (39,777,578) | ||||||
Common Stock, Shares, Outstanding, Beginning Balance at Dec. 31, 2020 | 821,377 | 13,513,561,065 | ||||||||||
Beginning balance, value at Dec. 31, 2020 | 1,256 | 1,370,174 | 31,543,325 | (18,997) | (72,673,335) | $ (39,777,577) | ||||||
Common shares issued for accrued executive compensation | $ 750,000 | 750,000 | ||||||||||
Stock Issued During Period, Shares, Other | 7,500,000,000 | |||||||||||
Net income loss | (6,022,373) | (6,022,373) | ||||||||||
Ending balance, value at Mar. 31, 2021 | 1,256 | $ 2,120,174 | 31,543,285 | (18,997) | (78,787,967) | (45,049,951) | ||||||
Ending balance, shares at Mar. 31, 2021 | 159,666 | 100,000 | 821,377 | 180,000 | 25,000 | 21,201,742,065 | ||||||
Beginning balance, value at Dec. 31, 2020 | (39,777,577) | |||||||||||
Beginning balance, shares at Dec. 31, 2020 | 159,666 | 100,000 | 791,567 | 180,000 | 25,000 | 13,701,742,065 | ||||||
Beginning balance, value at Dec. 31, 2020 | 1,256 | $ 1,370,174 | 31,543,285 | (18,997) | (72,765,594) | $ (39,777,578) | ||||||
Common Stock, Shares, Outstanding, Beginning Balance at Dec. 31, 2020 | 821,377 | 13,513,561,065 | ||||||||||
Beginning balance, value at Dec. 31, 2020 | 1,256 | 1,370,174 | 31,543,325 | (18,997) | (72,673,335) | $ (39,777,577) | ||||||
Net income loss | 1,761,111 | |||||||||||
Ending balance, value at Sep. 30, 2021 | 1,256 | $ 1,593,539 | 34,492,540 | (18,997) | (70,912,185) | (34,843,847) | ||||||
Ending balance, shares at Sep. 30, 2021 | 159,666 | 100,000 | 791,567 | 180,000 | 25,000 | 15,935,390,497 | ||||||
Beginning balance, value at Dec. 31, 2020 | (39,777,577) | |||||||||||
Beginning balance, shares at Dec. 31, 2020 | 159,666 | 100,000 | 791,567 | 180,000 | 25,000 | 13,701,742,065 | ||||||
Beginning balance, value at Dec. 31, 2020 | 1,256 | $ 1,370,174 | 31,543,285 | (18,997) | (72,765,594) | $ (39,777,578) | ||||||
Common Stock, Shares, Outstanding, Beginning Balance at Dec. 31, 2020 | 821,377 | 13,513,561,065 | ||||||||||
Beginning balance, value at Dec. 31, 2020 | 1,256 | 1,370,174 | 31,543,325 | (18,997) | (72,673,335) | $ (39,777,577) | ||||||
Net income loss | 8,268,947 | 8,268,947 | ||||||||||
Common stock issued for convertible debt | $ 315,032 | 4,942,492 | 5,257,524 | |||||||||
Common stock issued for convertible debt, shares | 3,150,315,100 | |||||||||||
Sale of common stock, net of stock issue costs of $6,081 | $ 74,000 | 289,919 | 363,919 | |||||||||
Sale of common stock, net of stock issue costs, shares | 740,000,000 | |||||||||||
Ending balance, value at Dec. 31, 2021 | 1,256 | $ 1,759,206 | 36,775,736 | (18,997) | (64,404,388) | (25,887,187) | ||||||
Ending balance, shares at Dec. 31, 2021 | 159,666 | 100,000 | 791,567 | 180,000 | 25,000 | 17,592,057,165 | ||||||
Beginning balance, value at Mar. 31, 2021 | 1,256 | $ 2,120,174 | 31,543,285 | (18,997) | (78,787,967) | (45,049,951) | ||||||
Beginning balance, shares at Mar. 31, 2021 | 159,666 | 100,000 | 821,377 | 180,000 | 25,000 | 21,201,742,065 | ||||||
Net income loss | (43,932,848) | (43,932,848) | ||||||||||
Return of common stock | $ (750,000) | (750,000) | ||||||||||
Return of common stock shares | (7,500,000,000) | |||||||||||
Common stock issued for convertible debt | $ 40,032 | 40,032 | ||||||||||
Common stock issued for convertible debt, shares | 400,315,100 | |||||||||||
Ending balance, value at Jun. 30, 2021 | 1,256 | $ 1,410,206 | 31,543,285 | (18,997) | (122,720,815) | (89,692,767) | ||||||
Ending balance, shares at Jun. 30, 2021 | 159,666 | 100,000 | 821,377 | 180,000 | 25,000 | 14,102,057,165 | ||||||
Net income loss | 51,716,332 | 51,716,332 | ||||||||||
Common stock and warrants issued in connection with convertible note financing | 183,333 | 2,949,255 | 3,132,588 | |||||||||
Ending balance, value at Sep. 30, 2021 | 1,256 | $ 1,593,539 | 34,492,540 | (18,997) | (70,912,185) | (34,843,847) | ||||||
Ending balance, shares at Sep. 30, 2021 | 159,666 | 100,000 | 791,567 | 180,000 | 25,000 | 15,935,390,497 | ||||||
Beginning balance, value at Dec. 31, 2021 | 1,256 | $ 1,759,206 | 36,775,736 | (18,997) | (64,404,388) | $ (25,887,187) | ||||||
Beginning balance, shares at Dec. 31, 2021 | 159,666 | 100,000 | 791,567 | 180,000 | 25,000 | 17,592,057,165 | ||||||
Common Stock, Shares, Outstanding, Beginning Balance at Dec. 31, 2021 | 17,403,876,165 | 17,403,876,165 | ||||||||||
Common stock issued for license | $ 16,000 | 48,000 | $ 64,000 | |||||||||
Common Stock Issued For License Shares | 160,000,000 | |||||||||||
Common stock issued for services | $ 20,333 | 52,667 | 73,000 | |||||||||
Stock Issued During Period, Shares, Issued for Services | 203,333,334 | |||||||||||
Common stock and warrants issued in connection with convertible note financings, net of placement agent fee of $2,250 | $ 6,050 | 102,600 | 108,650 | |||||||||
Common stock and warrants issued in connection with convertible note financings, net of placement agent fee of $2,250, shares | 60,500,000 | |||||||||||
Common shares issued for accrued executive compensation | $ 42,857 | 107,143 | 150,000 | |||||||||
Stock Issued During Period, Shares, Other | 428,571,428 | |||||||||||
Common stock issued for accrued consulting fees | $ 20,690 | 279,310 | 300,000 | |||||||||
Stock Issued During Period Shares Accrued Consulting Fees | 206,896,552 | |||||||||||
Net income loss | (1,049,537) | (1,049,537) | ||||||||||
Ending balance, value at Mar. 31, 2022 | 1,256 | $ 1,865,136 | 37,365,456 | (18,997) | (65,453,925) | (26,241,074) | ||||||
Ending balance, shares at Mar. 31, 2022 | 159,666 | 100,000 | 791,567 | 180,000 | 25,000 | 18,651,358,479 | ||||||
Beginning balance, value at Dec. 31, 2021 | 1,256 | $ 1,759,206 | 36,775,736 | (18,997) | (64,404,388) | $ (25,887,187) | ||||||
Beginning balance, shares at Dec. 31, 2021 | 159,666 | 100,000 | 791,567 | 180,000 | 25,000 | 17,592,057,165 | ||||||
Common Stock, Shares, Outstanding, Beginning Balance at Dec. 31, 2021 | 17,403,876,165 | 17,403,876,165 | ||||||||||
Net income loss | $ (422,947) | |||||||||||
Ending balance, value at Sep. 30, 2022 | 1,296 | $ 1,877,789 | 37,495,569 | (18,997) | (64,807,335) | (2,029) | (25,453,707) | |||||
Ending balance, shares at Sep. 30, 2022 | 159,666 | 100,000 | 821,377 | 190,000 | 25,000 | 18,777,886,254 | ||||||
Beginning balance, value at Mar. 31, 2022 | 1,256 | $ 1,865,136 | 37,365,456 | (18,997) | (65,453,925) | (26,241,074) | ||||||
Beginning balance, shares at Mar. 31, 2022 | 159,666 | 100,000 | 791,567 | 180,000 | 25,000 | 18,651,358,479 | ||||||
Common stock issued for services | $ 2,000 | 5,000 | 7,000 | |||||||||
Stock Issued During Period, Shares, Issued for Services | 20,000,000 | |||||||||||
Common stock and warrants issued in connection with convertible note financings, net of placement agent fee of $2,250 | $ 1,653 | 29,153 | 30,806 | |||||||||
Common stock and warrants issued in connection with convertible note financings, net of placement agent fee of $2,250, shares | 16,527,775 | |||||||||||
Net income loss | (5,723,736) | (5,723,736) | ||||||||||
Preferred stock adjustments | 40 | (40) | ||||||||||
Preferred stock adjustments, shares | 29,810 | 10,000 | ||||||||||
Foreign currency translation adjustments | 9,393 | 9,393 | ||||||||||
Ending balance, value at Jun. 30, 2022 | 1,296 | $ 1,868,789 | 37,399,569 | (18,997) | (71,177,661) | 9,393 | (31,917,611) | |||||
Ending balance, shares at Jun. 30, 2022 | 159,666 | 100,000 | 821,377 | 190,000 | 25,000 | 18,687,886,254 | ||||||
Net income loss | 6,350,326 | 6,350,326 | ||||||||||
Foreign currency translation adjustments | (11,422) | (11,422) | ||||||||||
Common stock and warrants issued in connection with convertible note financings | $ 9,000 | 96,000 | 105,000 | |||||||||
Common stock and warrants issued in connection with convertible note financings, shares | 90,000,000 | |||||||||||
Common stock issued in connection with convertible notes, shares | 1,833,333,332 | |||||||||||
Ending balance, value at Sep. 30, 2022 | $ 1,296 | $ 1,877,789 | $ 37,495,569 | $ (18,997) | $ (64,807,335) | $ (2,029) | $ (25,453,707) | |||||
Ending balance, shares at Sep. 30, 2022 | 159,666 | 100,000 | 821,377 | 190,000 | 25,000 | 18,777,886,254 |
Consolidated Statements of St_2
Consolidated Statements of Stockholders' Deficit (Parenthetical) - USD ($) | 3 Months Ended | 12 Months Ended | |
Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2021 | |
Statement of Stockholders' Equity [Abstract] | |||
Placement agent fees | $ 2,250 | $ 1,350 | |
Payments of Stock Issuance Costs | $ 6,081 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Cash Flows - USD ($) | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Dec. 31, 2021 | Dec. 31, 2020 | |
OPERATING ACTIVITIES: | ||||
Net income (loss) for the period | $ (422,947) | $ 1,761,111 | $ 8,268,947 | $ (11,729,741) |
Adjustments to reconcile net income (loss) to net cash used in operating activities: | ||||
Depreciation of equipment | 11,616 | 2,704 | ||
Amortization of license | 21,028 | 4,603 | ||
Amortization of debt discounts | 104,035 | 1,302 | 3,822 | |
Stock based compensation | 80,000 | |||
Gain from derivative liability | (981,881) | (2,561,820) | ||
Loss (gain) from debt settlements | 7,000 | (149,103) | ||
Changes in operating assets and liabilities: | ||||
Accounts receivable | (9,439) | |||
Inventory | (3,157) | |||
Prepaid consulting fees | 30,000 | (30,000) | ||
Accounts payable and accrued expenses | 921,102 | 799,873 | 1,291,255 | 1,323,057 |
Accrued expenses – related parties | 793 | |||
NET CASH (USED IN) OPERATING ACTIVITIES | (242,643) | (147,844) | (429,392) | (4,803) |
INVESTING ACTIVITIES: | ||||
Acquisition of license | (27,247) | (79,256) | ||
NET CASH USED IN INVESTING ACTIVITIES | (27,247) | (126,380) | ||
FINANCING ACTIVITIES: | ||||
Proceeds from obligations collateralized by receivables | 4,803 | |||
Payments towards obligations collateralized by receivables | (15,000) | |||
Repayment of obligations collateralized by receivables | (15,000) | |||
Proceeds from convertible debt financings | 243,400 | 200,000 | 200,000 | |
Proceeds from notes payable | 30,000 | |||
Payments towards convertible debt | (17,886) | |||
Proceeds from sales of common stock | 363,919 | |||
Proceeds from related party loans | 112,061 | |||
Payments towards related party loans | (70,500) | |||
Payments towards notes payable | (5,000) | (6,250) | ||
NET CASH PROVIDED BY FINANCING ACTIVITIES | 268,400 | 185,000 | 566,344 | 4,803 |
Exchange Rate Effect on Cash | (2,029) | |||
NET INCREASE (DECREASE) IN CASH | (3,519) | 37,156 | 10,572 | |
Cash at beginning of year | 10,573 | |||
Cash at end of period | 7,054 | 37,156 | 10,573 | |
SUPPLEMENTAL CASH FLOW INFORMATION: | ||||
Interest | ||||
Income taxes | ||||
SUPPLEMENTAL DISCLOSURE OF NON-CASH FINANCING ACTIVITIES: | ||||
Common Stock issued in satisfaction of accrued executive compensation | 150,000 | |||
Common stock issued for accrued consulting fees | 300,000 | |||
Common Stock issued for prepaid marketing fees | 25,000 | |||
Common Stock issued for license | 64,000 | |||
Common Stock and Warrants issued in connection with convertible note financings | 244,456 | 3,132,588 | ||
Conversion of convertible notes and accrued interest through the issuance of common stock | 5,257,524 | |||
Common stock issued in satisfaction of convertible notes and accrued interest | 40,032 | |||
Gain on extinguishment of debt | 7,000 | (149,103) | (160,807) | |
Loss (gain) from derivative liability | (981,881) | (2,561,820) | (9,809,916) | 10,401,881 |
Purchase of equipment | (47,124) | |||
CASH, BEGINNING OF PERIOD | $ 10,572 | |||
CASH, END OF PERIOD | $ 10,572 |
ORGANIZATION
ORGANIZATION | 6 Months Ended | 12 Months Ended |
Jun. 30, 2022 | Dec. 31, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
ORGANIZATION | ORGANIZATION CarbonMeta Technologies, Inc. (f/k/a CoroWare, Inc.) (“CarbonMeta”, the “Company”, “we”, “us”, or “our”) is a publicly quoted environmental research and development company that is commercializing technologies for processing organic wastes into hydrogen and high-value carbon products economically and sustainably. The Company was incorporated on June 8, 2001 under the laws of the State of Nevada as SRM Networks, Inc. In connection with the acquisition of Hy-Tech Computer Systems, Inc. on January 31, 2003, the Company changed its name to Hy-Tech Technology Group, Inc. In connection with the Agreement and Plan of Merger of Robotics Workspace Technology, Inc., Innova Holdings, Inc. and the Company’s wholly owned subsidiary, RWT Acquisition, Inc., dated July 21, 2004, the Company’s name changed to Innova Holdings, Inc. Subsequently, the Company redomiciled in the State of Delaware and on November 20, 2006, the Company changed its name to Innova Robotics and Automation, Inc. and then on April 23, 2008, the Company changed its name to CoroWare, Inc. On or about July 28, 2021, the Company filed Articles of Amendment to its Amended and Restated Certificate of Incorporation with the State of Delaware to reflect a name change from CoroWare, Inc. to CarbonMeta Technologies, Inc. The Company has six wholly-owned subsidiaries: CoroWare Technologies, Inc. (“CTI”), CoroWare Robotics Solutions, Inc. (“CRS”), Robotic Workspace Technologies, Inc. (“RWT”), Carbon Source, Inc. (“CS”), CoroWare Treasury, Inc. (“CWT”), and CarbonMeta Research Ltd. (“CMR”) and a 51% interest in AriCon, LLC (“AriCon”). CoroWare Technologies, Inc. (“CTI”) was incorporated in the State of Florida on May 16, 2006, was administratively dissolved on November 19, 2016, and its principal business was a software professional services company with a strong focus on information technology integration and robotics integration, business automation solutions, and unmanned systems solutions to its customers in North America and Europe. CoroWare Robotics Solutions, Inc. (“CRS”) was incorporated in the State of Texas on February 27, 2015, and its principal business was as a technology incubation company whose focus was on the delivery of mobile robotics and IOT products, solutions and services for university, government and corporate researchers, and enterprise customers. CRS’s business operations were discontinued in October 2016 when the Company’s gross margins and financing costs became unsustainable. Robotic Workspace Technologies, Inc. (“RWT”) was incorporated in the State of Florida on July 1, 1994, was administratively dissolved on September 25, 2009, and its principal business was developing and marketing open-architecture PC controls and related products that could improve the performance, applicability, and productivity of robots and other automated equipment. RWT’s business operations were discontinued in September 2007 when the Company’s losses became unsustainable. Carbon Source, Inc. (“CS”) was incorporated in the State of Wyoming on June 14, 2021 and its principal business is waste reclamation technologies and processing. CoroWare Treasury, Inc. (“CWT”) was incorporated in the State of Wyoming on July 8, 2021 and its principal business is acquisitions related to acquiring technologies and subsidiary businesses related to waste processing. CarbonMeta Research Ltd. (‘CMR”) was incorporated in England and Wales on August 12, 2021 and its principal business is the development of technologies and solutions for processing organic wastes and generating economically sustainable hydrogen and high-value carbon products. Using proprietary and patented technologies, it plans to implement new industrial methods using inexpensive, environmentally friendly catalysts that process collected plastic waste material into high value products such as hydrogen gas, graphene and carbon nanotubes. AriCon, LLC (“AriCon) was a joint venture that was intended to develop mobile robot platforms, applications, and solutions for the construction industry. In October 2016, AriCon ceased operations of all subsidiary business operations when the Company’s losses became unsustainable, and the Company was not able to obtain investment financing. CARBONMETA TECHNOLOGIES, INC. AND SUBSIDIARIES Notes to the Condensed Consolidated Financial Statements For the three and nine months ended September 30, 2022 and 2021 (Unaudited) NOTE A – ORGANIZATION (continued) In 2021, the Company began investigating emerging technologies, strategic intellectual property partnerships, and sustainable growth business opportunities related to the production of hydrogen and high value carbon products from organic waste streams. Working cooperatively with Oxford University Innovation, CarbonMeta plans to implement proven and patented technologies to add value to organic waste streams. By utilizing these proven proprietary technologies, collected and captured plastic waste material can be upcycled to high value products such as carbon nanotubes (“CNTs”) and hydrogen gas. CNTs can be used for improved electrical conduction and reinforcing materials that are used in a wide variety of industries including the automotive industry, aviation industry, medical industry, and construction. The number one growth driver is the increasing need for high performance batteries for the electric vehicle market. Plastic waste is a cheap and abundant feedstock that will allow the Company to scale quickly and produce hydrogen gas for a competitive price. License Agreements Oxford University Innovation Limited On June 2, 2021, the Company (the “Licensee”) entered into a License Agreement (the “Agreement”) with Oxford University Innovation Limited (the “Licensor”). Under the terms of the Agreement, the Licensee will license the licensed technology (OUI Project- Hydrogen from plastics via microwave-initiated catalytic dehydrogenation). The Agreement is non-exclusive and includes the United States and European Union. Signing fees for the Agreement were £ 54,807 5 20,000 50,000 1,000,000 10,000 10,000 5,000 3,000 1,000 The process that the Company licensed from Licensor for producing hydrogen and carbon products from waste plastics has not been demonstrated on a larger scale. It is not yet known whether the process will be cost-effective or profitable to implement on a larger scale. The Company has conducted tests to prove the percentage of carbon nanotubes up to 10 grams. The Company is working with a microwave reactor company to help demonstrate this process at a scale of 100 kilograms and 1,000 kilograms per day. The Company has met the following milestones of its development plan set forth in the license agreement with Oxford University Innovation: ● September 2021: establish subsidiary in Oxford, United Kingdom ● March 2022: produce 0.025 kilograms per day of marketable carbon nanotubes The Company is actively engaged in achieving the following milestones of its development plan set forth in the license agreement with University of Oxford Innovation: ● September 2022: produce 0.5 kilograms per day of marketable carbon nanotubes ● March 2023: 10 kilograms per day of marketable carbon nanotubes Oxford University Innovation may terminate the license due to the company not using commercially reasonable efforts to develop, exploit and market the licensed technology in accordance with the development plan. From July through September 2022, CarbonMeta Technologies contracted with University of Oxford on a project with a global multi-energy provider based in Europe to assess the feasibility of processing mixed plastic waste into clean hydrogen fuel and value-added carbon products using microwave catalysis on a large commercial scale. Ecomena Limited On December 2, 2021, the Company (“Licensee”) entered into a License of Agreement (the “Agreement”) with Ecomena Limited (an entity located in the United Kingdom) (“Licensor”). Under the terms of the Agreement, the Licensee will license the Licensed Technology to recycle industrial byproduct into cement free pavers and mortars that are environmentally friendly and continuously absorb carbon dioxide. The signing fees payable to the Licensor under the Agreement are £ 20,000 cash (approximately $ 27,247 at February 17, 2022) which has not yet been paid by the Licensee, and 160,000,000 shares of the Company’s common stock, which was delivered to the Licensor on February 17, 2022. The royalty rate payable to the Licensor is 5% of product sales, subject to a minimum of £ 5,000 per year for license years 1 and 2, £ 3,000 for license year 3 and £ 1,000 for license year 4 and each license year thereafter. The term of the Agreement is five years from December 2, 2021 to December 2, 2026. The Licensee may terminate the Agreement for any reason at any time provided it gives Licensor six (6) months written notice to terminate expiring after December 2, 2024. If requested by the Licensee, the Licensor shall agree to the Agreement continuing in force after December 2, 2026. As of the date of this filing, the Agreement is still in effect. Production Agreement On January 11, 2022, the Company entered into an Interim Joint Product Development and Sales Representation Agreement (the “Agreement”) with Salvum Corporation. Under the terms of the Agreement, the parties agree to work together to develop both CarbonMeta’s proprietary cementless paver products known as “Cementless Paver” and Salvum’s proprietary concrete alternative products known as “Earthcrete.” During the Term, Salvum agrees to manufacture CarbonMeta’s proprietary cementless paver products known as “Cementless Paver”. CarbonMeta reserves the right to appoint other manufacturers of the products and/or to engage other sales representatives for CarbonMeta’s proprietary cementless paver products known as “Cementless Paver” outside the United States of America. Although the Interim Joint Product Development and Sales Representation Agreement with Salvum Corporation had a term of 180 days and expired on July 11, 2022, the companies continued to work together, and the companies signed a Joint Venture Agreement on August 28, 2022 that supersedes the Interim Joint Product Development and Sales Representation Agreement. Service Award On June 10, 2022, our subsidiary, CarbonMeta Research Ltd. (“CMR”), was granted a Service Award (entitled “Waste Plastic Catalysis Proof of Concept”) from Repsol S.A., a business company located in Spain. The award provides for CMR to provide Repsol with an initial prototype process for converting mixed waste plastic to hydrogen and solid carbon and for Repsol to pay CMR a total of 50,000 Euros in four installments as certain milestones are met. As of September 30, 2022, all of the milestones had been met by CMR and CMR had invoiced Repsol the full 50,000 49,542 40,103 9,439 CARBONMETA TECHNOLOGIES, INC. AND SUBSIDIARIES Notes to the Condensed Consolidated Financial Statements For the three and nine months ended September 30, 2022 and 2021 (Unaudited) NOTE A – ORGANIZATION (continued) In order to further grow its business, the Company plans to: ● Develop and patent new microwave catalysis processes that can yield high value hydrogen and carbon products; ● Work closely with commercial building and solar farm general contractors that want to purchase “carbon negative” construction materials that can generate carbon credits; ● Acquire or develop patents that will help the Company generate royalty revenues with potential customers and partners, and protect the Company’s competitive position against potential competitors; ● Develop new proprietary and patented technologies to implement new industrial methods that can use inexpensive, environmentally friendly catalysts to process collected plastic waste material into high value products such as hydrogen gas, graphene and carbon nanotubes; ● seek out government programs in the United Kingdom, European Union and United States that encourage the development of high value production of hydrogen and high value carbon products from organic waste streams; and ● Attract investment funds who will actively work with the Company to achieve these goals and help the Company grow rapidly during the next 3 years. Some potential joint venture candidates have been identified and discussions initiated. These candidates are within the Company’s core business model, serving commercial properties, accretive to cash flow, and geographically favorable. One of these joint ventures, CarbonMeta Green Building Materials LLC will be focused on the development at marketing of construction mix products that are carbon-negative. Two other joint ventures under discussion are focused on processing waste plastics into hydrogen and high value carbon products. We plan to fund these joint ventures with customer purchase orders and invoice payments, federal loans, federal grants, and commercial loans. We have unrestricted discretion in seeking and participating in a business opportunity, subject to the availability of such opportunities, economic conditions, and other factors. The selection of a business opportunity in which to participate is complex and risky. Additionally, we have only limited resources and may find it difficult to locate good opportunities. There can be no assurance that we will be able to identify and acquire any business opportunity which will ultimately prove to be beneficial to us and our shareholders. We will select any potential business opportunity based on our management’s best business judgment. Our activities are subject to several significant risks, which arise primarily as a result of the fact that we have no specific business and may acquire or participate in a business opportunity based on the decision of management, which potentially could act without the consent, vote, or approval of our shareholders. The risks faced by us are further increased as a result of our lack of resources and our inability to provide a prospective business opportunity with significant capital. CARBONMETA TECHNOLOGIES, INC. AND SUBSIDIARIES Notes to the Condensed Consolidated Financial Statements For the three and nine months ended September 30, 2022 and 2021 (Unaudited) NOTE A – ORGANIZATION (continued) Principal Products or Services and Markets The Company is in the business of developing and marketing technologies and solutions that can process organic and construction wastes into economically high-value and ecologically sustainable products. The Company is partnering with a microwave reactor manufacturer in the United States to “scale up” the patented waste plastics microwave processes that the Company licensed from Oxford University Innovation, and with a university partner in the United States to separate, purify and characterize carbon nanotubes that the UK and US developers shall produce. The principal products that the Company intends to market comprise: ● amorphous carbon, graphite, nano-graphite, graphene, carbon nanotubes, and hydrogen; and ● carbon-negative building products that help alleviate climate change by capturing carbon dioxide (CO2) for renewable energy projects. | NOTE A – ORGANIZATION CarbonMeta Technologies, Inc. (f/k/a CoroWare, Inc.) (“CarbonMeta”, the “Company”, “we”, “us”, or “our”) is a publicly quoted environmental research and development company that is commercializing technologies for processing organic wastes into hydrogen and high-value carbon products economically and sustainably. The Company was incorporated on June 8, 2001 under the laws of the State of Nevada as SRM Networks, Inc. In connection with the acquisition of Hy-Tech Computer Systems, Inc. on January 31, 2003, the Company changed its name to Hy-Tech Technology Group, Inc. In connection with the Agreement and Plan of Merger of Robotics Workspace Technology, Inc., Innova Holdings, Inc. and the Company’s wholly owned subsidiary, RWT Acquisition, Inc., dated July 21, 2004, the Company’s named changed to Innova Holdings, Inc. Subsequently, the Company redomiciled in the State of Delaware and on November 20, 2006, the Company changed its name to Innova Robotics and Automation, Inc. and then on April 23, 2008, the Company changed its name to CoroWare, Inc. On or about July 28, 2021, the Company filed Articles of Amendment to its Amended and Restated Certificate of Incorporation with the State of Delaware to reflect a name change from CoroWare, Inc. to CarbonMeta Technologies, Inc. The Company has six wholly-owned subsidiaries: CoroWare Technologies, Inc. (“CTI”), CoroWare Robotics Solutions, Inc. (“CRS”), Robotic Workspace Technologies, Inc. (“RWT”), Carbon Source, Inc. (“CS”), CoroWare Treasury, Inc. (“CWT”), and CarbonMeta Research Ltd. (“CMR”) and a 51% interest in AriCon, LLC (“AriCon”). CoroWare Technologies, Inc. (“CTI”) was incorporated in the State of Florida on May 16, 2006, was administratively dissolved on November 19, 2016, and its principal business was a software professional services company with a strong focus on information technology integration and robotics integration, business automation solutions, and unmanned systems solutions to its customers in North America and Europe. CoroWare Robotics Solutions, Inc. (“CRS”) was incorporated in the State of Texas on February 27, 2015, and its principal business was as a technology incubation company whose focus was on the delivery of mobile robotics and IOT products, solutions and services for university, government and corporate researchers, and enterprise customers. CRS’s business operations were discontinued in October 2016 when the Company’s gross margins and financing costs became unsustainable. Robotic Workspace Technologies, Inc. (“RWT”) was incorporated in the State of Florida on July 1, 1994, was administratively dissolved on September 25, 2009, and its principal business was developing and marketing open-architecture PC controls and related products that could improve the performance, applicability, and productivity of robots and other automated equipment. RWT’s business operations were discontinued in September 2007 when the Company’s losses became unsustainable. CARBONMETA TECHNOLOGIES, INC. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS For the years ended December 31, 2021 and 2020 NOTE A – ORGANIZATION (continued) Carbon Source, Inc. (“CS”) was incorporated in the State of Wyoming on June 14, 2021 and its principal business is waste reclamation technologies and processing. CoroWare Treasury, Inc. (“CWT”) was incorporated in the State of Wyoming on July 8, 2021 and its principal business is acquisitions related to acquiring technologies and subsidiary businesses related to waste processing. CarbonMeta Research Ltd. (‘CMR”) was incorporated in England and Wales on August 12, 2021 and its principal business will focus on the development of technologies and solutions for processing organic wastes and generating economically sustainable hydrogen and high-value carbon products. Using proprietary and patented technologies, it plans to implement new industrial methods using inexpensive, environmentally friendly catalysts that process collected plastic waste material into high value products such as hydrogen gas, graphene and carbon nanotubes. AriCon, LLC (“AriCon) was a joint venture that was intended to develop mobile robot platforms, applications, and solutions for the construction industry. In October 2016, AriCon ceased operations of all subsidiary business operations when the Company’s losses became unsustainable, and the Company was not able to obtain investment financing. In 2021, the Company began investigating emerging technologies, strategic intellectual property partnerships, and sustainable growth business opportunities related to the production of hydrogen and high value carbon products from organic waste streams. Working cooperatively with Oxford University Innovation Limited, CarbonMeta plans to implement proven and patented technologies to add value to organic waste streams. By utilizing these proven proprietary technologies, collected and captured plastic waste material can be upcycled to high value products such as carbon nanotubes (“CNTs”) and hydrogen gas. CNTs can be used for improved electrical conduction and reinforcing materials that are used in a wide variety of industries including the automotive industry, aviation industry, medical industry, and construction. The number one growth driver is the increasing need for high performance batteries for the electric vehicle market. Plastic waste is a cheap and abundant feedstock that will allow the Company to scale quickly and produce hydrogen gas for a competitive price. License Agreements On June 2, 2021, the Company (the “Licensee”) entered into a License Agreement (the “Agreement”) with Oxford University Innovation Limited (the “Licensor”). Under the terms of the Agreement, the Licensee will license the licensed technology (OUI Project- Hydrogen from plastics via microwave-initiated catalytic dehydrogenation). The Agreement is non-exclusive and includes the United States and European Union. Signing fees for the Agreement were $ 55,713 (approximately $ 79,256 at June 2, 2021) and were paid on October 31, 2021. The Royalty Rate is 5 % of gross sales. The Agreement comprises milestone fees as: (i) £ 20,000 upon the first commercial sale of a licensed product; (ii) £ 50,000 upon generating $ 1,000,000 in sales; (iii) £ 10,000 upon the successful grant of the US patent; and (iv) £ 10,000 upon the successful grant of the EU patent. On December 2, 2021, the Company (“Licensee”) entered into a License of Agr eement (the “Agreement”) with Ecomena Limited (an entity located in the United Kingdom) 20,000 cash (approximately $ 27,247 at February 17, 2022) which has not yet been paid by the Licensee, and 160,000,000 shares of the Company’s common stock, which was delivered to the Licensor on February 17, 2022. The royalty rate payable to the Licensor is 5% of product sales, subject to a minimum of £ 5000 per year for license years 1 and 2, £ 3000 for license year 3 and £ 1000 for license year 4 and each license year thereafter. The term of the Agreement is five years from December 2, 2021 to December 2, 2026. The Licensee may terminate the Agreement for any reason at any time provided it gives Licensor six (6) months written notice to terminate expiring after December 2, 2024. If requested by the Licensee, the Licensor shall agree to the Agreement continuing in force after December 2, 2026. In order to further grow its business, the Company plans to: ● Develop and patent new microwave catalysis processes that can yield high value hydrogen and carbon products; ● Work closely with commercial building and solar farm general contractors that want to purchase “carbon negative” construction materials that can generate carbon credits; ● Acquire or develop patents that will help the Company generate royalty revenues with potential customers and partners, and protect the Company’s competitive position against potential competitors; ● Develop new proprietary and patented technologies to implement new industrial methods that can use inexpensive, environmentally friendly catalysts to process collected plastic waste material into high value products such as hydrogen gas, graphene and carbon nanotubes; ● seek out government programs in the United Kingdom, European Union and United States that encourage the development of high value production of hydrogen and high value carbon products from organic waste streams; and ● Attract investment funds who will actively work with the Company to achieve these goals and help the Company grow rapidly during the next 3 years. CARBONMETA TECHNOLOGIES, INC. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS For the years ended December 31, 2021 and 2020 NOTE A – ORGANIZATION (continued) Some potential merger/acquisition candidate have been identified and discussions initiated. These candidates are within the Company’s core business model, serving commercial properties, accretive to cash flow, and geographically favorable. While seeking to identify acquisition candidates, the Company seeks to identify target entities with a similar core business model or a model which naturally integrates with its own, and which are situated in opportunistic geographic locations. We have unrestricted discretion in seeking and participating in a business opportunity, subject to the availability of such opportunities, economic conditions, and other factors. The selection of a business opportunity in which to participate is complex and risky. Additionally, we have only limited resources and may find it difficult to locate good opportunities. There can be no assurance that we will be able to identify and acquire any business opportunity which will ultimately prove to be beneficial to us and our shareholders. We will select any potential business opportunity based on our management’s best business judgment. Our activities are subject to several significant risks, which arise primarily as a result of the fact that we have no specific business and may acquire or participate in a business opportunity based on the decision of management, which potentially could act without the consent, vote, or approval of our shareholders. The risks faced by us are further increased as a result of its lack of resources and our inability to provide a prospective business opportunity with significant capital. |
SIGNIFICANT ACCOUNTING POLICIES
SIGNIFICANT ACCOUNTING POLICIES | 6 Months Ended | 12 Months Ended |
Jun. 30, 2022 | Dec. 31, 2021 | |
Accounting Policies [Abstract] | ||
SIGNIFICANT ACCOUNTING POLICIES | NOTE B – SIGNIFICANT ACCOUNTING POLICIES Interim Financial Statements The accompanying unaudited financial statements are presented in accordance with generally accepted accounting principles for interim financial information and the instructions to Form 10-Q and Article 8 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments (consisting only of normal recurring accruals) considered necessary in order to make the financial statements not misleading, have been included. Operating results for the nine months ended September 30, 2022 are not necessarily indicative of results that may be expected for the year ending December 31, 2022. Principles of Consolidation The consolidated financial statements include the accounts of CarbonMeta Technologies, Inc. and its wholly-owned subsidiaries, CoroWare Technologies, Inc., CoroWare Robotics Solutions, Inc., Robotic Workspace Technologies, Inc., Carbon Source, Inc., CoroWare Treasury, Inc., and CarbonMeta Research Ltd., as well as its 51% Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The Company uses all available information and appropriate techniques to develop its estimates. However, actual results could differ from its estimates. Foreign Currency Translation The accompanying consolidated financial statements are presented in United States dollars (“$”), which is the reporting currency of the Company. The functional currency of CarbonMeta Research Ltd. (“CMR”) is the Great Britain pound (“GBP”); the functional currency of the Company and its other subsidiaries is the United States dollar. The assets and liabilities of CMR are translated at the GBR currency exchange rate at the end of the period ($ 1.113030 at September 30, 2022), the revenues and expenses of CMR are translated at the GBP average exchange rates during the period ($ 1.164519 for the nine months ended September 30, 2022), and stockholders’ equity (deficit) of CMR is translated at the historical exchange rates. The resulting translation adjustments are included in determining other comprehensive income (loss). Transaction gains and losses, which were not significant for the periods presented, are reflected in the consolidated statements of operations. Cash and Cash Equivalents The Company considers highly liquid investments with original maturities of three months or less when purchased as cash equivalents. The Company had no cash equivalents as of September 30, 2022 and December 31, 2021. At times throughout the year, the Company might maintain bank balances that may exceed Federal Deposit Insurance Corporation (“FDIC”) insured limits. Periodically, the Company evaluates the credit worthiness of the financial institutions and has not experienced any losses in such accounts. As of September 30, 2022 and December 31, 2021, the Company did not have bank balances that exceeded the FDIC insured limits. Property and Equipment Property and equipment are recorded at cost. Expenditures for major renewals and improvements are capitalized while expenditures for minor replacements, maintenance and repairs are expensed as incurred. Depreciation is calculated using the straight-line method over the estimated useful lives of the assets. Upon retirement or disposal of assets, the accounts are relieved of cost and accumulated depreciation and the related gain or loss, if any, is reflected in loss on disposal of assets in the unaudited condensed consolidated statement of income and comprehensive income. At least annually, the Company evaluates, and adjusts when necessary, the estimated useful lives. There were no changes in estimated useful lives for the periods presented. The estimated useful lives are: SUMMARY OF ESTIMATED USEFUL LIVES Computer equipment and software 5 Filament production equipment 3 CARBONMETA TECHNOLOGIES, INC. AND SUBSIDIARIES Notes to the Condensed Consolidated Financial Statements For the three and nine months ended September 30, 2022 and 2021 (Unaudited) NOTE B – SIGNIFICANT ACCOUNTING POLICIES (continued) Licenses The licenses acquired from Oxford University Innovation Limited and Ecomena Limited ( see Note A Impairment of Long-lived Assets The Company evaluates the carrying value and recoverability of its long-lived assets when circumstances warrant such evaluation by applying the provisions of Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 360-35, Property, Plant and Equipment, Subsequent Measurement Income Taxes Income taxes are computed using the asset and liability method. Under the asset and liability method, deferred income tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities and are measured using the currently enacted tax rates and laws. A valuation allowance is provided for the amount of deferred tax assets that, based on available evidence, are not expected to be realized. Additionally, taxes are calculated and expensed in accordance with applicable tax code. Segment Reporting FASB ASC 280-10, Segment Reporting Fair Value of Financial Instruments The Company follows FASB ASC 820-10-35-37 (“Paragraph 820-10-35-37”) to measure the fair value of its financial instruments and paragraph 825-10-50-10 of the FASB ASC for disclosures about fair value of its financial instruments. Paragraph 820-10-35-37 establishes a framework for measuring fair value in GAAP and expands disclosures about fair value measurements. To increase consistency and comparability in fair value measurements and related disclosures, Paragraph 820-10-35-37 establishes a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The three levels of fair value hierarchy defined by Paragraph 820-10-35-37 are described below: Level 1 Quoted market prices available in active markets for identical assets or liabilities as of the reporting date. Level 2 Pricing inputs other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reporting date. Level 3 Pricing inputs that are generally unobservable inputs and not corroborated by market data. Financial assets are considered Level 3 when their fair values are determined using pricing models, discounted cash flow methodologies or similar techniques and at least one significant model assumption or input is unobservable. The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. If the inputs used to measure the financial assets and liabilities fall within more than one level described above, the categorization is based on the lowest level input that is significant to the fair value measurement of the instrument. The carrying amounts reported in the Company’s unaudited condensed consolidated financial statements for accounts receivable and accounts payable and accrued expenses approximate their fair value because of the immediate or short-term nature of these financial instruments. The carrying amounts reported in the balance sheet for its notes and loans payable approximates fair value as the contractual interest rate and features are consistent with similar instruments of similar risk in the marketplace. Transactions involving related parties cannot be presumed to be carried out on an arm’s-length basis, as the requisite conditions of competitive, free-market dealings may not exist. Representations about transactions with related parties, if made, shall not imply that the related party transactions were consummated on terms equivalent to those that prevail in arm’s-length transactions unless such representations can be substantiated. CARBONMETA TECHNOLOGIES, INC. AND SUBSIDIARIES Notes to the Condensed Consolidated Financial Statements For the three and nine months ended September 30, 2022 and 2021 (Unaudited) NOTE B – SIGNIFICANT ACCOUNTING POLICIES (continued) It is not, however, practical to determine the fair value of advances from stockholders, if any, due to their related party nature. The following table presents assets and liabilities that are measured and recognized at fair value as of September 30, 2022 and December 31, 2021, on a recurring basis: SUMMARY OF ASSETS AND LIABILITIES THAT ARE MEASURED AND RECOGNIZED AT FAIR VALUE Assets and liabilities measured at fair value on a recurring basis at September 30, 2022 Level 1 Level 2 Level 3 Total Carrying Value Derivative liabilities $ - $ (10,918,883 ) $ - $ (10,918,883 ) Assets and liabilities measured at fair value on a recurring basis at December 31, 2021 Level 1 Level 2 Level 3 Total Derivative liabilities $ - $ (11,904,070 ) $ - $ (11,904,070 ) Convertible Instruments The Company evaluates and accounts for conversion options embedded in its convertible instruments in accordance with professional standards for FASB ASC 815, Derivatives and Hedging Professional standards generally provide three criteria that, if met, require companies to bifurcate conversion options from their host instruments and account for them as free-standing derivative financial instruments. These three criteria include circumstances in which (a) the economic characteristics and risks of the embedded derivative instrument are not clearly and closely related to the economic characteristics and risks of the host contract, (b) the hybrid instrument that embodies both the embedded derivative instrument and the host contract is not re-measured at fair value under otherwise applicable generally accepted accounting principles with changes in fair value reported in earnings as they occur and (c) a separate instrument with the same terms as the embedded derivative instrument would be considered a derivative instrument. Professional standards also provide an exception to this rule when the host instrument is deemed to be conventional as defined under professional standards as “The Meaning of Conventional Convertible Debt Instrument.” The Company accounts for convertible instruments (when it has determined that the embedded conversion options should not be bifurcated from their host instruments) in accordance with professional standards under “Accounting for Convertible Securities with Beneficial Conversion Features,” as those professional standards pertain to “Certain Convertible Instruments.” Accordingly, the Company records, when necessary, discounts to convertible notes for the intrinsic value of conversion options embedded in debt instruments 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 to their earliest date of redemption. The Company also records when necessary deemed dividends for the intrinsic value of conversion options embedded in preferred shares based upon the differences between the fair value of the underlying common stock at the commitment date of the preferred stock transaction and the effective conversion price embedded in the preferred stock. ASC 815 provides that, among other things, generally, if an event is not within the entity’s control, could or require net cash settlement, then the contract shall be classified as an asset or a liability. Stock Based Compensation The Company follows FASB ASC 718, Compensation – Stock Compensation The Company accounts for stock-based compensation issued to non-employees and consultants in accordance with the provisions of FASB ASC 505-50, Equity–based Payments to Non-Employees Through newly issued restricted common stock, the Company pays qualified contractors and advisors common shares in lieu of compensation for services provided including business development, management, technology development, consulting, legal services and accounting services. CARBONMETA TECHNOLOGIES, INC. AND SUBSIDIARIES Notes to the Condensed Consolidated Financial Statements For the three and nine months ended September 30, 2022 and 2021 (Unaudited) NOTE B – SIGNIFICANT ACCOUNTING POLICIES (continued) Revenue Recognition The Company will recognize revenue for its sales of energy products pursuant to the License Agreements with Oxford University Innovation Limited and Ecomena Limited (see Note A) when persuasive evidence of an arrangement exists, delivery has occurred, the sales price is fixed or determinable and collectability is probable. Product sales will be recognized by us generally at the time product is shipped. Shipping and handling costs will be included in cost of goods sold. Research and Development Research and development costs relate to the development of new products, including significant improvements and refinements to existing products, and are expensed as incurred. Research and development expenses for the nine months ended September 30, 2022 and 2021 were $14,820 and $ 0 , respectively. Basic and Diluted Loss per Common Share The Company computes basic and diluted earnings per common share amounts in accordance with FASB ASC 260, Earnings per Share For the three and nine months ended September 30, 2022 and 2021, the effect of common stock equivalents has been excluded from the calculation of diluted earnings per common share as their effect would be anti-dilutive. The Company currently has convertible debt and preferred stock, which, if converted, as of September 30, 2022 and December 31, 2021, would have caused the Company to issue diluted shares totaling 24,713,991,521 and 32,963,937,306 , respectively. Dividend Policy The Company has never declared or paid any cash dividends on its common stock. The Company anticipates that any earnings will be retained for development and expansion of its business and does not anticipate paying any cash dividends in the foreseeable future. Additionally, as of September 30, 2022 and December 31, 2021, the Company has issued, and has outstanding, shares of Series B Preferred Stock which are entitled, prior to the declaration of any dividends on common stock, to earn a 5% dividend, payable in either cash or common stock of the Company. The Board of Directors has sole discretion to declare dividends based on the Company’s financial condition, results of operations, capital requirements, contractual obligations and other relevant factors. At September 30, 2022 and December 31, 2021, there were cumulative undeclared dividends to Preferred Series B shareholders of $ 125,737 and $ 119,750 , respectively, the obligation for which is contingent on declaration by the board of directors. At September 30, 2022 and December 31, 2021, there were accrued unpaid declared dividends of $ 15,969 and $ 15,969 , respectively (which are included in accounts payable and accrued expenses). Recent Accounting Pronouncements Certain accounting pronouncements have been issued by the FASB and other standard setting organizations which are not yet effective and therefore have not yet been adopted by the Company. The impact on the Company’s financial position and results of operations from adoption of these standards is not expected to be material. CARBONMETA TECHNOLOGIES, INC. AND SUBSIDIARIES Notes to the Condensed Consolidated Financial Statements For the three and nine months ended September 30, 2022 and 2021 (Unaudited) | NOTE B – SIGNIFICANT ACCOUNTING POLICIES Principles of Consolidation The consolidated financial statements include the accounts of CarbonMeta Technologies, Inc. and its wholly-owned subsidiaries, CoroWare Technologies, Inc., CoroWare Robotics Solutions, Inc., Robotic Workspace Technologies, Inc., Carbon Source, Inc., CoroWare Treasury, Inc., and CarbonMeta Research Ltd., as well as its 51% interest in ARiCon, LLC (collectively, the “Company”). All significant inter-company balances and transactions have been eliminated in the consolidated financial statements. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The Company uses all available information and appropriate techniques to develop its estimates. However, actual results could differ from its estimates. Cash and Cash Equivalents The Company considers highly liquid investments with original maturities of three months or less when purchased as cash equivalents. The Company had no cash equivalents as of December 31, 2021 and 2020. At times throughout the year, the Company might maintain bank balances that may exceed Federal Deposit Insurance Corporation (“FDIC”) insured limits. Periodically, the Company evaluates the credit worthiness of the financial institutions and has not experienced any losses in such accounts. As of December 31, 2021 and 2020, the Company did not have bank balances that exceeded the FDIC insured limits. CARBONMETA TECHNOLOGIES, INC. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS For the years ended December 31, 2021 and 2020 NOTE B – SIGNIFICANT ACCOUNTING POLICIES (continued) Property and Equipment Property and equipment are stated at cost less accumulated depreciation. Expenditures for major renewals and improvements are capitalized while expenditures for minor replacements, maintenance and repairs are expensed as incurred. Depreciation is calculated using the straight-line method over the estimated useful lives of the assets. Upon retirement or disposal of assets, the accounts are relieved of cost and accumulated depreciation and the related gain or loss, if any, is reflected in the consolidated statement of operations. At least annually, the Company evaluates, and adjusts when necessary, the estimated useful lives. The changes in estimated useful lives did not have a material impact on depreciation in any period. The estimated useful lives are: SUMMARY OF ESTIMATED USEFUL LIVES Computer equipment and software 5 years Filament production equipment 3 years License The license acquired from Oxford University Innovation Limited ( see Note A Impairment of Long-lived Assets The Company evaluates the carrying value and recoverability of its long-lived assets when circumstances warrant such evaluation by applying the provisions of Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 360-35, Property, Plant and Equipment, Subsequent Measurement Income Taxes Income taxes are computed using the asset and liability method. Under the asset and liability method, deferred income tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities and are measured using the currently enacted tax rates and laws. A valuation allowance is provided for the amount of deferred tax assets that, based on available evidence, are not expected to be realized. Additionally, taxes are calculated and expensed in accordance with applicable tax code. CARBONMETA TECHNOLOGIES, INC. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS For the years ended December 31, 2021 and 2020 NOTE B – SIGNIFICANT ACCOUNTING POLICIES (continued) Segment Reporting FASB ASC 280-10, Segment Reporting one main segment. Fair Value of Financial Instruments The Company follows FASB ASC 820-10-35-37 (“Paragraph 820-10-35-37”) to measure the fair value of its financial instruments and paragraph 825-10-50-10 of the FASB ASC for disclosures about fair value of its financial instruments. Paragraph 820-10-35-37 establishes a framework for measuring fair value in GAAP and expands disclosures about fair value measurements. To increase consistency and comparability in fair value measurements and related disclosures, Paragraph 820-10-35-37 establishes a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The three levels of fair value hierarchy defined by Paragraph 820-10-35-37 are described below: Level 1 Quoted market prices available in active markets for identical assets or liabilities as of the reporting date. Level 2 Pricing inputs other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reporting date. Level 3 Pricing inputs that are generally unobservable inputs and not corroborated by market data. Financial assets are considered Level 3 when their fair values are determined using pricing models, discounted cash flow methodologies or similar techniques and at least one significant model assumption or input is unobservable. The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. If the inputs used to measure the financial assets and liabilities fall within more than one level described above, the categorization is based on the lowest level input that is significant to the fair value measurement of the instrument. The carrying amounts reported in the Company’s consolidated financial statements for cash and accounts payable and accrued expenses approximate their fair value because of the immediate or short-term nature of these financial instruments. The carrying amounts reported in the balance sheet for its notes and loans payable approximates fair value as the contractual interest rate and features are consistent with similar instruments of similar risk in the marketplace. Transactions involving related parties cannot be presumed to be carried out on an arm’s-length basis, as the requisite conditions of competitive, free-market dealings may not exist. Representations about transactions with related parties, if made, shall not imply that the related party transactions were consummated on terms equivalent to those that prevail in arm’s-length transactions unless such representations can be substantiated. It is not, however, practical to determine the fair value of advances from stockholders, if any, due to their related party nature. CARBONMETA TECHNOLOGIES, INC. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS For the years ended December 31, 2021 and 2020 NOTE B – SIGNIFICANT ACCOUNTING POLICIES (continued) The following table presents assets and liabilities that are measured and recognized at fair value as of December 31, 2021 and 2020, on a recurring basis: SUMMARY OF ASSETS AND LIABILITIES THAT ARE MEASURED AND RECOGNIZED AT FAIR VALUE Assets and liabilities measured at fair value on a recurring basis at December 31, 2021 Level 1 Level 2 Level 3 Total Carrying Value Derivative liabilities $ - $ (11,904,070 ) $ - $ (11,904,070 ) Assets and liabilities measured at fair value on a recurring basis at December 31, 2020 Level 1 Level 2 Level 3 Total Carrying Value Derivative liabilities $ - $ (21,713,986 ) $ - $ (21,713,986 ) Convertible Instruments The Company evaluates and accounts for conversion options embedded in its convertible instruments in accordance with professional standards for FASB ASC 815, Derivatives and Hedging Professional standards generally provide three criteria that, if met, require companies to bifurcate conversion options from their host instruments and account for them as free-standing derivative financial instruments. These three criteria include circumstances in which (a) the economic characteristics and risks of the embedded derivative instrument are not clearly and closely related to the economic characteristics and risks of the host contract, (b) the hybrid instrument that embodies both the embedded derivative instrument and the host contract is not re-measured at fair value under otherwise applicable generally accepted accounting principles with changes in fair value reported in earnings as they occur and (c) a separate instrument with the same terms as the embedded derivative instrument would be considered a derivative instrument. Professional standards also provide an exception to this rule when the host instrument is deemed to be conventional as defined under professional standards as “The Meaning of Conventional Convertible Debt Instrument.” The Company accounts for convertible instruments (when it has determined that the embedded conversion options should not be bifurcated from their host instruments) in accordance with professional standards under “Accounting for Convertible Securities with Beneficial Conversion Features,” as those professional standards pertain to “Certain Convertible Instruments.” Accordingly, the Company records, when necessary, discounts to convertible notes for the intrinsic value of conversion options embedded in debt instruments 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 to their earliest date of redemption. The Company also records when necessary deemed dividends for the intrinsic value of conversion options embedded in preferred shares based upon the differences between the fair value of the underlying common stock at the commitment date of the preferred stock transaction and the effective conversion price embedded in the preferred stock. ASC 815 provides that, among other things, generally, if an event is not within the entity’s control could or require net cash settlement, then the contract shall be classified as an asset or a liability. Stock Based Compensation The Company follows FASB ASC 718, Compensation – Stock Compensation The Company accounts for stock-based compensation issued to non-employees and consultants in accordance with the provisions of FASB ASC 505-50, Equity–based Payments to Non-Employees CARBONMETA TECHNOLOGIES, INC. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS For the years ended December 31, 2021 and 2020 NOTE B – SIGNIFICANT ACCOUNTING POLICIES (continued) Through newly issued restricted common stock, the Company pays qualified contractors and advisors common shares in lieu of compensation for services provided including business development, management, technology development, consulting, legal services and accounting services. Revenue Recognition The Company will recognize revenue for its sales of energy products pursuant to the License Agreement with Oxford University Innovation Limited (see Note A) when persuasive evidence of an arrangement exists, delivery has occurred, the sales price is fixed or determinable and collectability is probable. Product sales will be recognized by us generally at the time product is shipped. Shipping and handling costs will be included in cost of goods sold. Research and Development Research and development costs relating to the development of new products, including significant improvements and refinements to existing products, will be expensed as incurred. Research and development expenses for the years ended December 31, 2021 and 2020 were $ 0 and $ 0 , respectively. CARBONMETA TECHNOLOGIES, INC. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS For the years ended December 31, 2021 and 2020 NOTE B – SIGNIFICANT ACCOUNTING POLICIES (continued) Basic and Diluted Income (Loss) per Common Share The Company computes basic and diluted earnings per common share amounts in accordance with FASB ASC 260, Earnings per Share For the years ended December 31, 2021 and 2020, the effect of common stock equivalents has been excluded from the calculation of diluted earnings per share as their effect would be anti-dilutive. The Company currently has convertible debt and preferred stock, which, if converted, as of December 31, 2021 and 2020, would have caused the Company to issue diluted shares totaling 32,963,937,306 and 106,376,994,454 shares, respectively. Dividend Policy The Company has never declared or paid any cash dividends on its common stock. The Company anticipates that any earnings will be retained for development and expansion of its business and does not anticipate paying any cash dividends in the foreseeable future. Additionally, as of December 31, 2021 and 2020, the Company has issued, and has outstanding, shares of Series B Preferred Stock which are entitled, prior to the declaration of any dividends on common stock, to earn a 5 % dividend, payable in either cash or common stock of the Company. The Board of Directors has sole discretion to declare dividends based on the Company’s financial condition, results of operations, capital requirements, contractual obligations and other relevant factors. At December 31, 2021 and 2020, there were cumulative undeclared dividends to Preferred Series B shareholders of $ 119,750 and $ 111,767 , respectively, the obligation for which is contingent on declaration by the board of directors. At December 31, 2021 and 2020, there were accrued unpaid declared dividends of $ 15,969 and $ 15,969 , respectively (which are included in accounts payable and accrued expenses). Recent Accounting Pronouncements Certain accounting pronouncements have been issued by the FASB and other standard setting organizations which are not yet effective and therefore have not yet been adopted by the Company. The impact on the Company’s financial position and results of operations from adoption of these standards is not expected to be material. CARBONMETA TECHNOLOGIES, INC. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS For the years ended December 31, 2021 and 2020 |
GOING CONCERN
GOING CONCERN | 6 Months Ended | 12 Months Ended |
Jun. 30, 2022 | Dec. 31, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
GOING CONCERN | NOTE C – GOING CONCERN The Company incurred a net loss in the amount of ($422,947) during the nine months ended September 30, 2022 compared to net income of $ 1,761,111 for the nine months ended September 30, 2021. The Company has a working capital deficit of $ 25,631,383 and $ 26,006,260 as of September 30, 2022 and December 31, 2021, respectively. The Company has accumulated deficits of $ 64,807,335 and $ 64,404,388 as of September 30, 2022 and December 31, 2021, respectively. Because of these and other factors, the Company will require additional working capital to develop its business operations. The Company intends to raise additional working capital through the use of private placements, public offerings and/or bank financing. There are no assurances that the Company will be able to either (1) achieve a level of revenues adequate to generate sufficient cash flow from operations; or (2) obtain additional financing through either private placements, public offerings and/or bank financing necessary to support the Company’s working capital requirements. To the extent that funds generated from operations, any private placements, public offerings and/or bank financing are insufficient, the Company will have to raise additional working capital. No assurance can be given that additional financing will be available, or if available, will be on terms acceptable to the Company. These conditions raise substantial doubt about the Company’s ability to continue as a going concern. The unaudited condensed consolidated financial statements do not include any adjustments relating to the recoverability and classification of asset carrying amounts or the amount and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. CARBONMETA TECHNOLOGIES, INC. AND SUBSIDIARIES Notes to the Condensed Consolidated Financial Statements For the three and nine months ended September 30, 2022 and 2021 (Unaudited) | NOTE C – GOING CONCERN The Company realized net income in the amount of $ 8,268,947 during the year ended December 31, 2021 compared to a net loss of $ 11,729,741 for the year ended December 31, 2020. The Company has a working capital deficit of $ 26,006,260 and $ 39,777,577 as of December 31, 2021 and 2020, respectively. The Company has accumulated deficits of $ 64,404,388 and $ 72,673,335 as of December 31, 2021 and 2020, respectively. Additionally, the Company is in default of substantially all of its debt and other obligations (see Notes F, H, I and K). Because of these and other factors, the Company will require additional working capital to develop its business operations. The Company intends to raise additional working capital through the use of private placements, public offerings and/or bank financing. There are no assurances that the Company will be able to either (1) achieve a level of revenues adequate to generate sufficient cash flow from operations; or (2) obtain additional financing through either private placements, public offerings and/or bank financing necessary to support the Company’s working capital requirements. To the extent that funds generated from operations, any private placements, public offerings and/or bank financing are insufficient, the Company will have to raise additional working capital. No assurance can be given that additional financing will be available, or if available, will be on terms acceptable to the Company. These conditions raise substantial doubt about the Company’s ability to continue as a going concern. The consolidated financial statements do not include any adjustments relating to the recoverability and classification of asset carrying amounts or the amount and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. |
PROPERTY AND EQUIPMENT, NET
PROPERTY AND EQUIPMENT, NET | 6 Months Ended | 12 Months Ended |
Jun. 30, 2022 | Dec. 31, 2021 | |
Property, Plant and Equipment [Abstract] | ||
PROPERTY AND EQUIPMENT, NET | NOTE D – PROPERTY AND EQUIPMENT, NET Property and equipment consists of the following at September 30, 2022 and December 31, 2021: SCHEDULE OF PROPERTY AND EQUIPMENT September 30, December 31, 2022 2021 Computer equipment and software $ 1,325 $ 1,325 Filament production equipment 45,799 45,799 Filament production equipment 45,799 45,799 Subtotal 47,124 47,124 Less: accumulated depreciation (14,320 ) (2,704 ) Property and equipment, net $ 32,804 $ 44,420 Depreciation expense for the nine months ended September 30, 2022 and 2021 was $ 11,616 and $ 0 , respectively. | NOTE D – PROPERTY AND EQUIPMENT, NET Property and equipment, net, consists of the following at December 31, 2021 and December 31, 2020: SCHEDULE OF PROPERTY AND EQUIPMENT December 31, December 31, 2021 2020 Computer equipment and software $ 1,325 $ - Filament production equipment 45,799 - Subtotal 47,124 - Less: accumulated depreciation (2,704 ) - Property and equipment, net $ 44,420 $ - Depreciation of equipment expense for the years ended December 31, 2021 and 2020 was $ 2,704 and $ 0 , respectively. |
LICENSES, NET
LICENSES, NET | 6 Months Ended | 12 Months Ended |
Jun. 30, 2022 | Dec. 31, 2021 | |
Goodwill and Intangible Assets Disclosure [Abstract] | ||
LICENSES, NET | NOTE E - LICENSES, NET The licenses, net, consists of the following at September 30, 2022 and December 31, 2021: SCHEDULE OF LICENSE, NET September December 31, 2022 2021 License acquired from Oxford University Innovation Limited on June 2, 2021 ( see Note A $ 79,256 $ 79,256 License acquired from Ecomena Limited effective February 17, 2022 (see Note A) 91,247 - Subtotal 170,503 79,256 Accumulated amortization (25,631 ) (4,603 ) Licenses, net $ 144,872 $ 74,653 Amortization of licenses expense for the nine months ended September 30, 2022 and 2021 was $ 21,028 and $ 0 , respectively. At September 30, 2022, the expected future amortization of licenses expense was: SCHEDULE OF FUTURE AMORTIZATION OF LICENSE EXPENSE Fiscal year ending December 31: 2022 (excluding the nine months ended September 30, 2022) $ 6,547 2023 26,175 2024 26,176 2025 26,175 2026 26,176 Thereafter 33,623 Total $ 144,872 | NOTE E – LICENSE, NET LICENSES, NET The license, net, consists of the following at December 31, 2021 and 2020: SCHEDULE OF LICENSE, NET 2021 2020 December 31, December 31, 2021 2020 License acquired from Oxford University Innovation Limited on June 2, 2021 (see Note A) $ 79,256 $ - Accumulated amortization (4,603 ) - License, net $ 74,653 $ - Amortization of license expense for the years ended December 31, 2021 and 2020 was $ 4,603 and $ 0 , respectively. At December 31, 2021, the expected future amortization of license expense was: SCHEDULE OF FUTURE AMORTIZATION OF LICENSE EXPENSE Fiscal year ending December 31: 2022 $ 7,926 2023 7,925 2024 7,926 2025 7,925 2026 7,926 Thereafter 35,025 Total $ 74,653 CARBONMETA TECHNOLOGIES, INC. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS For the years ended December 31, 2021 and 2020 |
ACCOUNTS PAYABLE AND ACCRUED EX
ACCOUNTS PAYABLE AND ACCRUED EXPENSES | 6 Months Ended | 12 Months Ended |
Jun. 30, 2022 | Dec. 31, 2021 | |
Payables and Accruals [Abstract] | ||
ACCOUNTS PAYABLE AND ACCRUED EXPENSES | NOTE F – ACCOUNTS PAYABLE AND ACCRUED EXPENSES Accounts payable and accrued expenses consists of the following at September 30, 2022 and December 31, 2021: SCHEDULE OF ACCOUNTS PAYABLE AND ACCRUED EXPENSES September 30, December 31, 2022 2021 Accounts payable $ 1,400,791 $ 1,344,631 Accrued interest 6,107,347 5,422,526 Accrued CEO compensation 837,000 874,500 Accrued CarbonMeta Research, Ltd Board of Directors fees 53,195 - Accrued payroll 110,335 111,368 Deferred compensation to Chief Technology Officer of Company subsidiary, CoroWare Technologies, Inc. 230,993 230,993 Payroll taxes payable 1,998,735 1,998,735 Commissions payable 221,188 221,188 Accrued consulting fees relating to the Mutual Release and Settlement Agreement dated July 19, 2021 with Y.A. Global Investments, LP (Note H) 50,000 350,000 Accrued dividends on Series B Preferred Stock 15,969 15,969 License fee payable to Ecomena Limited 27,247 - Accrued expenses 119,243 360,040 Garnishment liens payable 35,502 35,502 Pension plan payable 23,981 23,981 Deferred Salaries 232,818 232,818 Credit cards payable - - Other 47,316 71,954 Total $ 11,100,116 $ 10,641,864 CARBONMETA TECHNOLOGIES, INC. AND SUBSIDIARIES Notes to the Condensed Consolidated Financial Statements For the three and nine months ended September 30, 2022 and 2021 (Unaudited) The accounts payable of $ 1,400,791 at September 30, 2022, which largely relate to year 2016 and prior, are liabilities of: SCHEDULE OF INFORMATION ABOUT LIABILITIES September 30, 2022 CarbonMeta Technologies, Inc. $ 197,657 CoroWare Technologies, Inc. 1,156,327 CoroWare Robotics Solutions, Inc. 34,353 Carbon Source, Inc. 3,197 AriCon, LLC 9,257 Total $ 1,400,791 The payroll taxes payable of $ 1,998,735 and commissions payable of $ 221,188 at September 30, 2022, which substantially all relate to year 2016 and prior, are all liabilities of CoroWare Technologies, Inc. On October 28, 2021, the Company CEO submitted an Offer in Compromise with the Internal Revenue Service to satisfy the trust fund portion (approximately $ 1,400,000 ) of the liability for $ 534,457 and paid $ 106,891 to the Internal Revenue Service with the offer. To date, the Internal Revenue Service has not yet accepted or declined this Offer in Compromise. The accounts payable of $ 1,344,631 at December 31, 2021, which substantially all relate to year 2016 and prior, are liabilities of: The payroll taxes payable of $ 1,998,735 and commissions payable of $ 221,188 at December 31, 2021, which also substantially all relate to year 2016 and prior, are all liabilities of CoroWare Technologies, Inc. On October 28, 2021, the Company CEO submitted an Offer in Compromise with the Internal Revenue Service to satisfy the trust fund portion (approximately $ 1,400,000 ) of the liability for $ 534,457 and paid $ 106,891 to the Internal Revenue Service with the offer. To date, the Internal Revenue Service has not yet accepted or declined this Offer in Compromise. | NOTE F – ACCOUNTS PAYABLE AND ACCRUED EXPENSES Accounts payable and accrued expenses consists of the following at December 31, 2021 and 2020: SCHEDULE OF ACCOUNTS PAYABLE AND ACCRUED EXPENSES December 31, December 31, 2021 2020 Accounts payable $ 1,344,631 $ 1,327,167 Accrued interest 5,422,526 7,012,529 Accrued CEO compensation 874,500 750,000 Accrued payroll 111,368 111,368 Deferred compensation to Chief Technology Officer of Company subsidiary, CoroWare Technologies, Inc. 230,993 230,993 Payroll taxes payable 1,998,735 2,104,551 Commissions payable 221,188 221,188 Accrued consulting fees relating to the Mutual Release and Settlement Agreement dated July 19, 2021 with Y.A. Global Investments, LP (Note H) 350,000 - Accrued dividends on Series B Preferred Stock 15,969 15,969 Credit cards payable - 81,048 Other 71,954 89,561 Total $ 10,641,864 $ 11,944,374 The accounts payable of $ 1,344,631 at December 31, 2021, which substantially all relate to year 2016 and prior, are liabilities of: SCHEDULE OF INFORMATION ABOUT LIABILITIES December 31, 2021 CarbonMeta Technologies, Inc. $ 139,409 CoroWare Technologies, Inc. 1,156,327 CoroWare Robotics Solutions, Inc. 34,353 CoroWare Treasury, Inc. 5,285 AriCon, LLC 9,257 Total $ 1,344,631 The payroll taxes payable of $ 1,998,735 and commissions payable of $ 221,188 at December 31, 2021, which also substantially all relate to year 2016 and prior, are all liabilities of CoroWare Technologies, Inc. On October 28, 2021, the Company CEO submitted an Offer in Compromise with the Internal Revenue Service to satisfy the trust fund portion (approximately $ 1,400,000 ) of the liability for $ 534,457 and paid $ 106,891 to the Internal Revenue Service with the offer. To date, the Internal Revenue Service has not yet accepted or declined this Offer in Compromise. |
OBLIGATIONS COLLATERALIZED BY R
OBLIGATIONS COLLATERALIZED BY RECEIVABLES | 6 Months Ended | 12 Months Ended |
Jun. 30, 2022 | Dec. 31, 2021 | |
Obligations Collateralized By Receivables | ||
OBLIGATIONS COLLATERALIZED BY RECEIVABLES | NOTE G – OBLIGATIONS COLLATERALIZED BY RECEIVABLES Obligations collateralized by receivables consist of the following at September 30, 2022 and December 31, 2021: SCHEDULE OF OBLIGATIONS COLLATERALIZED BY RECEIVABLES September 30, December 31, 2022 2021 Quick Fix Capital August 17, 2015 arrangement $ 48,907 $ 48,907 Power Up January 8, 2016 arrangement 14,232 14,232 Power Up April 12, 2016 arrangement 67,645 67,645 Power Up April 28, 2016 arrangement 29,696 29,696 Power Up June 2, 2016 arrangement 45,756 45,756 Total $ 206,236 $ 206,236 The financing arrangements relating to the above liabilities were entered into between CoroWare Technologies, Inc. (“CTI”), a subsidiary of the Company, and lenders in 2015 and 2016. The agreements provided for financing plus debt discounts for CTI to repay to the lenders. The terms of repayment require CTI to remit to the lenders certain percentages of future receivables collections until such time as the balances are paid in full. CARBONMETA TECHNOLOGIES, INC. AND SUBSIDIARIES Notes to the Condensed Consolidated Financial Statements For the three and nine months ended September 30, 2022 and 2021 (Unaudited) | NOTE G – OBLIGATIONS COLLATERALIZED BY RECEIVABLES, NET Obligations collateralized by receivables consist of: SCHEDULE OF OBLIGATIONS COLLATERALIZED BY RECEIVABLES December 31, December 31, 2021 2020 Knight Capital July 16, 2015 arrangement $ - $ 76,317 Quick Fix Capital August 17, 2015 arrangement 48,907 48,907 Power Up January 8, 2016 arrangement 14,232 14,232 Power Up April 12, 2016 arrangement 67,645 67,645 Power Up April 28, 2016 arrangement 29,696 29,696 Power Up June 2, 2016 arrangement 45,756 45,756 Total $ 206,236 $ 282,553 The financing arrangements relating to the above liabilities were entered into between CoroWare Technologies, Inc. (“CTI”), a subsidiary of the Company, and lenders in 2015 and 2016. The agreements provided for financing plus debt discounts for CTI to repay to the lenders. The terms of repayment require CTI to remit to the lenders certain percentages of future receivables collections until such time as the balances are paid in full. CARBONMETA TECHNOLOGIES, INC. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS For the years ended December 31, 2021 and 2020 |
CONVERTIBLE DEBT, NET
CONVERTIBLE DEBT, NET | 6 Months Ended | 12 Months Ended |
Jun. 30, 2022 | Dec. 31, 2021 | |
Convertible Debt Net | ||
CONVERTIBLE DEBT, NET | NOTE H – CONVERTIBLE DEBT, NET Convertible debt, net, consists of the following at September 30, 2022 and December 31, 2021: SCHEDULE OF CONVERTIBLE DEBT, NET Principal Balance at Accrued Interest Lender Interest Rate Default Rate Conversion Price September 30, 2022 December 31, September 30, December 31, Westmount Holdings International, Ltd – loan date January 12, 2010 due on demand 14.00 % 14.00 % (1 ) $ 537,317 $ 537,317 $ 949,308 $ 893,044 Tangiers Investment Group, LLC – loan date March 9, 2013 and due date of March 9, 2014, in technical default 10.00 % 20.00 % (2 ) - - 891 891 Tangiers Investment Group, LLC – loan date March 27, 2014 and due date of March 27, 2015, in technical default 10.00 % 20.00 % (2 ) 75,000 75,000 118,438 107,219 Tangiers Investment Group, LLC – due on demand 0.00 % 15.00 % $ 0.0006 47,000 47,000 62,892 62,892 Tangiers Investment Group, LLC – loan date October 11, 2016 and due date of October 20, 2017, in technical default 0.00 % 20.00 % $ 0.0006 10,000 10,000 6,663 6,663 Tangiers Investment Group, LLC – loan date January 30, 2017 and due date of January 30, 2018, in technical default 10.00 % 20.00 % 0.0006 30,910 30,910 18,445 18,445 Tangiers Investment Group, LLC – loan date July 19, 2021 and due date of July 19, 2022 10.00 % 20.00 % $ 0.001 105,000 105,000 12,628 4,775 Tangiers Investment Group, LLC – loan date September 8, 2021 and due date of September 8, 2022 10.00 % 20.00 % $ 0.001 105,000 105,000 11,033 3,279 Tangiers Investment Group, LLC – loan date March 21, 2022 and due date of March 21, 2023 12.00 % 16.00 % $ 0.0002 55,000 - 3,490 - Lloyd T. Spencer (the Company’s sole officer and director) – loan date March 7, 2022 and due date of March 7, 2023 12.00 % 16.00 % $ 0.0002 66,000 - 4,492 - Dakota Capital Pty, Ltd – loan date April 8, 2014 and due date of December 31, 2014, in technical default 14.00 % 14.00 % (3 ) 200,000 200,000 237,425 216,482 Zoom Marketing – loan date August 23, 2013 and due date of January 23, 2014, in technical default 5.00 % 10.00 % (8 ) 65,000 65,000 60,680 55,819 Burrington Capital, LLC – loan date April 2, 2014 and due date of October 1, 2014, in technical default 10.00 % 15.00 % (12 ) 25,000 25,000 61,581 52,447 Patrick Ferro – loan date April 3, 2014 and due date of December 31, 2014, in technical default 14.00 % 14.00 % (13 ) 26,825 26,825 37,757 34,948 Barry Liben – loan date April 3, 2014 and due date of December 31, 2014, in technical default 0.00 % 0.00 % (13 ) 52,800 52,800 - - Jared Robert – loan date December 10, 2014 and due date of June 10, 2015, in technical default 10.00 % 15.00 % (12 ) 20,000 20,000 42,475 35,883 Raphael Cariou – loan date August 3, 2012 and due date of February 3, 2013, in technical default 10.00 % 15.00 % (4 ) 7,000 7,000 24,038 20,763 Raphael Cariou – loan date March 12, 2015 and due date of September 12, 2015, in technical default 24.00 % 29.00 % (4 ) 82,178 82,178 630,692 493,167 Raphael Cariou - loan date March 12, 2015 and due date of September 12, 2015, in technical default 24.00 % 29.00 % (4 ) 94,178 94,178 706,756 552,242 Redwood Management, LLC – loan date of March 21, 2011 and due date of March 18, 2013, in technical default 14.00 % 14.00 % (1 ) 123,936 123,936 166,307 153,329 AGS Capital Group, LLC – loan date of February 25, 2013 and due date of February 25, 2014, in technical default 14.00 % 14.00 % (9 ) 8,640 8,640 113,568 101,485 AGS Capital Group, LLC – loan date of February 25, 2013 and due date of February 25, 2014, in technical default 14.00 % 14.00 % (9 ) 42,000 42,000 117,733 101,941 Tim Burgess – loan date of July 8, 2003 and due date of January 8, 2004, in technical default 8.00 % 15.00 % $ 1.00 50,000 50,000 140,633 136,914 Azriel Nagar – loan date of July 8, 2003 and due date of January 8, 2004, in technical default 8.00 % 15.00 % $ 1.00 50,000 50,000 140,633 136,914 Kelburgh, Ltd – loan date of February 12, 2012 and due date of March 22, 2012, in technical default 10.00 % 15.00 % (8 ) 13,000 13,000 49,953 43,311 Premier IT Solutions – loan date of October 5, 2011 and due date of March 5, 2012, in technical default 10.00 % 15.00 % (7 ) 21,962 21,962 88,754 77,073 LG Capital Funding, LLC – loan date of March 11, 2014 and due date of March 11, 2015, in technical default 12.00 % 24.00 % (11 ) 32,000 32,000 61,862 56,137 LG Capital Funding, LLC – loan date of January 7, 2015 and due date of January 7, 2016, in technical default 12.00 % 24.00 % (11 ) 20,625 20,625 35,796 32,094 LG Capital Funding, LLC – loan date of March 11, 2014 and due date of March 11, 2015, in technical default 12.00 % 24.00 % (11 ) 24,000 24,000 46,411 42,103 Barclay Lyons – loan date of January 28, 2011 and due date of July 28, 2011 in technical default 21.00 % 36.00 % (6 ) 10,750 10,750 44,378 41,484 Blackridge Capital, LLC – loan date of April 2, 2011 and due date of July 28, 2011 in technical default 10.00 % 15.00 % (7 ) 6,985 6,985 120,356 106,920 Blackridge Capital, LLC – loan date of February 21, 2014 and due date of September 21, 2014 in technical default 8.00 % 8.00 % (10 ) 5,000 5,000 4,715 4,152 Julian Herskowitz – loan date of July 8, 2003 and due date of January 8, 2004 in technical default 8.00 % 15.00 % (15 ) - - 16,287 16,287 Patrick Tuohy – loan date of April 1, 2014 and due date of December 31, 2014 in technical default 14.00 % 14.00 % (12 ) - - 153 153 Richard Wynns – loan date July 22, 2005 and due date of December 31, 2006, in technical default 5.00 % 5.00 % $ 0.15 7,500 7,500 7,313 7,127 Richard Wynns - loan date July 26, 2010 and due date of December 31, 2011, in technical default 10.00 % 10.00 % (5 ) 93,997 93,997 115,121 108,072 MacRab LLC – loan date May 10, 2022 and due date of May 10, 2023 12.00 % 16.00 % $ 0.0002 33,056 - 1,554 - BHP Capital NY Inc. - loan date July 14, 2022 and due date of July 14, 2023 12.00 % 12.00 % $ 0.0002 25,000 - 641 - Quick Capital LLC - loan date July 14, 2022 and due date of July 14, 2023 12.00 % 12.00 % $ 0.0002 25,000 - 641 - Robert Papiri Defined Benefit Plan - loan date July 15, 2022 and due date of July 15, 2023 12.00 % 12.00 % $ 0.0002 10,000 - 253 - Robert Papiri Defined Contribution Plan - loan date July 15, 2022 and due date of July 15, 2023 12.00 % 12.00 % $ 0.0002 2,500 - 63 - RPG Capital Partners, Inc - loan date July 15, 2022 and due date of July 15, 2023 12.00 % 12.00 % $ 0.0002 2,500 - 63 - RPG Capital Partners, Inc - loan date August 4, 2022 and due date of August 4, 2023 12.00 % 12.00 % $ 0.0002 25,0000 - 469 - RPG Capital Partners, Inc - loan date September 12, 2022 and due date of September 12, 2023 12.00 % 12.00 % $ 0.0002 15,000 - 89 - Total 2,252,659 1,993,603 4,267,426 3,724,455 Less debt discounts (161,099 ) (6,178 ) - - Net $ 2,091,560 $ 1,987,425 $ 4,267,426 $ 3,724,455 CARBONMETA TECHNOLOGIES, INC. AND SUBSIDIARIES Notes to the Condensed Consolidated Financial Statements For the three and nine months ended September 30, 2022 and 2021 (Unaudited) NOTE H – CONVERTIBLE DEBT, NET (continued) (1) Lesser of (a) $0.02 or (b) 85% of the lowest closing price during the 30-day trading period prior to conversion. (2) 50% of the lowest closing price during the 20-day trading period prior to conversion. (3) Lesser of (a) $0.02 or (b) 50% of the lowest volume weighted average price during the 30-day trading period prior to conversion. (4) 86.9565% of the average prices of the five trading days prior to the conversion date. (5) 75% of the average of the three lowest closing prices during the 10-day trading period prior to conversion. (6) 50% of the lesser of (i) the closing price on the day prior to conversion, or (ii) the volume-weighted-average closing price of the five-day trading period prior to conversion, though in no instance shall the conversion price be less than $0.0001. (7) Average of the five trading days prior to the applicable conversion date, with the number of conversion shares multiplied by 115%. (8) 85% of the average of the five trading days prior to the applicable conversion date. (9) 35% of the lowest closing price during the 20-day trading period prior to conversion. (10) 60% of the lowest closing price during the 30-day trading period prior to conversion (11) 50% of the lowest closing price during the 10-day trading period prior to, and including the date of, conversion (12) 60% of the lowest closing price during the 20-day trading period prior to conversion, or $0.01, whichever is lower. (13) 50% of the average of the three lowest closing prices during the 30-day trading period prior to conversion, or $0.02, whichever is lower, with the conversion rate being rounded to $0.0001 or whole share. (15) 65% of the lowest closing price during the 7-day trading period prior to conversion CARBONMETA TECHNOLOGIES, INC. AND SUBSIDIARIES Notes to the Condensed Consolidated Financial Statements For the three and nine months ended September 30, 2022 and 2021 (Unaudited) | NOTE H – CONVERTIBLE DEBT, NET CONVERTIBLE DEBT, NET Convertible debt, net, consists of: SCHEDULE OF CONVERTIBLE DEBT, NET Interest Default Conversion Principal Balance at Accrued Interest Balance at December 31, Lender Rate Rate Price 2021 2020 2021 2020 YA Global Investments, LP - loan date February 5, 2016 and due date of April 30, 2016 , in technical default 6.00 % 18.00 % (1 ) $ - $ 2,715,990 $ - $ 2,298,634 Westmount Holdings International, Ltd - loan date January 12, 2010 due on demand 14.00 % 14.00 % (2 ) 537,317 537,317 893,044 817,819 Tangiers Investment Group, LLC – loan date March 9, 2013 and due date of March 9, 2014, in technical default 10.00 % 20.00 % (3 ) - - 891 891 Tangiers Investment Group, LLC - loan date November 13, 2013 and due date of November 13, 2014 , in technical default 10.00 % 20.00 % (3 ) - 17,000 - 22,547 Tangiers Investment Group, LLC – loan date March 27, 2014 and due date of March 27, 2015 , in technical default 10.00 % 20.00 % (3 ) 75,000 75,000 107,219 92,219 Tangiers Investment Group, LLC – due on demand 0.00 % 15.00 % (3 ) 47,000 72,000 62,892 61,264 Tangiers Investment Group, LLC – loan date October 11, 2016 and due date of October 20, 2017 , in technical default 0.00 % 20.00 % 0.0001 10,000 10,000 6,663 6,411 Tangiers Investment Group, LLC – loan date January 30, 2017 and due date of January 30, 2018 , in technical default 10.00 % 20.00 % 0.001 30,910 30,910 18,445 21,129 Tangiers Investment Group, LLC – loan date July 19, 2021 and due date of July 19, 2022 10.00 % 20.00 % $ 0.001 105,000 - 4,775 - Tangiers Investment Group, LLC – loan date September 8, 2021 and due date of September 8, 2022 10.00 % 20.00 % $ 0.001 105,000 - 3,279 - Dakota Capital Pty, Ltd – loan date April 8, 2014 and due date of December 31, 2014 , in technical default 14.00 % 14.00 % (4 ) 200,000 200,000 216,482 188,842 Zoom Marketing – loan date August 23, 2013 and due date of January 23, 2014 , in technical default 5.00 % 10.00 % (9 ) 65,000 65,000 55,819 49,319 Burrington Capital, LLC – loan date April 2, 2014 and due date of October 1, 2014 , in technical default 10.00 % 15.00 % (13 ) 25,000 25,000 52,447 41,721 Patrick Ferro – loan date April 3, 2014 and due date of December 31, 2014 , in technical default 14.00 % 14.00 % (14 ) 26,825 26,825 34,948 31,193 Barry Liben – loan date April 3, 2014 and due date of December 31, 2014 , in technical default 0.00 % 0.00 % (14 ) 52,800 52,800 - - Jared Robert – loan date December 10, 2014 and due date of June 10, 2015 , in technical default 10.00 % 15.00 % (13 ) 20,000 20,000 35,883 28,144 Raphael Cariou – loan date August 3, 2012 and due date of February 3, 2013 , in technical default 10.00 % 15.00 % (5 ) 7,000 7,000 20,763 16,918 Raphael Cariou – loan date March 12, 2015 and due date of September 12, 2015 , in technical default 24.00 % 29.00 % (5 ) 82,178 82,178 493,167 349,820 Raphael Cariou - loan date March 12, 2015 and due date of September 12, 2015 , in technical default 24.00 % 29.00 % (5 ) 94,178 94,178 552,242 391,187 Redwood Management, LLC – loan date of March 21, 2011 and due date of March 18, 2013 , in technical default 14.00 % 14.00 % (2 ) 123,936 123,936 153,329 135,978 AGS Capital Group, LLC – loan date of February 25, 2013 and due date of February 25, 2014 , in technical default 14.00 % 14.00 % (10 8,640 8,640 101,485 87,176 AGS Capital Group, LLC – loan date of February 25, 2013 and due date of February 25, 2014, in technical default 14.00 % 14.00 % (10 ) 42,000 42,000 101,941 83,278 Tim Burgess – loan date of July 8, 2003 and due date of January 8, 2004 , in technical default 8.00 % 15.00 % $ 1.00 50,000 50,000 136,914 129,414 Azriel Nagar – loan date of July 8, 2003 and due date of January 8, 2004 , in technical default 8.00 % 15.00 % $ 1.00 50,000 50,000 136,914 129,414 Kelburgh, Ltd – loan date of February 12, 2012 and due date of March 22, 2012 , in technical default 10.00 % 15.00 % (9 ) 13,000 13,000 43,311 35,512 Premier IT Solutions – loan date of October 5, 2011 and due date of March 5, 2012 , in technical default 10.00 % 15.00 % (8 ) 21,962 21,962 77,073 63,358 LG Capital Funding, LLC – loan date of March 11, 2014 and due date of March 11, 2015 , in technical default 12.00 % 24.00 % (12 ) 32,000 32,000 56,137 48,457 LG Capital Funding, LLC – loan date of January 7, 2015 and due date of January 7, 2016 , in technical default 12.00 % 24.00 % (12 ) 20,625 20,625 32,094 27,144 LG Capital Funding, LLC – loan date of March 11, 2014 and due date of March 11, 2015 , in technical default 12.00 % 24.00 % (12 ) 24,000 24,000 42,103 36,343 Barclay Lyons – loan date of January 28, 2011 and due date of July 28, 2011 in technical default 21.00 % 36.00 % (7 ) 10,750 10,750 41,484 37,614 Blackridge Capital, LLC – loan date of April 2, 2011 and due date of July 28, 2011 in technical default 10.00 % 15.00 % (8 ) 6,985 6,985 106,920 94,596 Blackridge Capital, LLC – loan date of February 21, 2014 and due date of September 21, 2014 in technical default 8.00 % 8.00 % (11 ) 5,000 5,000 4,152 3,451 RBB Capital, LLC – loan date of June 2, 2011 and due date of June 1, 2012 in technical default 8.00 % 15.00 % (16 ) - 7,683 - 21,271 RBB Capital, LLC – loan date of June 29, 2011 and due date of June 29, 2012 in technical default 8.00 % 8.00 % (17 ) - 202 - 5,531 Julian Herskowitz – loan date of July 8, 2003 and due date of January 8, 2004 in technical default 8.00 % 15.00 % (18 ) - - 16,287 16,287 Patrick Tuohy – loan date of April 1, 2014 and due date of December 31, 2014 in technical default 14.00 % 14.00 % (13 ) - - 153 153 Richard Wynns – loan date July 22, 2005 and due date of December 31, 2006 , in technical default 5.00 % 5.00 % $ 0.15 7,500 7,500 7,127 6,752 Richard Wynns - loan date July 26, 2010 and due date of December 31, 2011 , in technical default 10.00 % 10.00 % (6) 93,998 93,998 108,072 98,672 Total 1,993,603 4,549,479 3,724,455 5,474,608 Less debt discounts (6,178 ) - - - Net $ 1,987,425 $ 4,549,479 $ 3,724,455 $ 5,474,608 (1) Lesser of (a) $0.0003 or (b) 50% of the lowest closing price during the 20-day trading period prior to conversion . (2) Lesser of (a) $0.02 or (b) 85% of the lowest closing price during the 30-day trading period prior to conversion . (3) 50% of the lowest closing price during the 20-day trading period prior to conversion. (4) Lesser of (a) $0.02 or (b) 50% of the lowest closing price during the 30-day trading period prior to conversion . (5) 86.9565% of the average prices of the five trading days prior to the conversion date. (6) 75% of the average of the three lowest closing prices during the 10-day trading period prior to conversion. (7) 50% of the lesser of (i) the closing price on the day prior to conversion, or (ii) the volume-weighted-average closing price of the five-day trading period prior to conversion, though in no instance shall the conversion price be less than $0.0001. (8) Average of the five trading days prior to the applicable conversion date, with the number of conversion shares multiplied by 115%. (9) 85% of the average of the five trading days prior to the applicable conversion date. (10) 35% of the lowest closing price during the 20-day trading period prior to conversion. (11) 60% of the lowest closing price during the 30-day trading period prior to conversion (12) 50% of the lowest closing price during the 10-day trading period prior to, and including the date of, conversion (13) 60% of the lowest closing price during the 20-day trading period prior to conversion, or $0.01, whichever is lower. (14) 50% of the average of the three lowest closing prices during the 30-day trading period prior to conversion, or $0.02, whichever is lower, with the conversion rate being rounded to $0.0001 or whole share. (15) 45% of the lowest closing price during the 20-day trading period prior to, and including the date of, conversion. (16) 50% of the of the average of the three lowest closing prices during the 20-day trading period prior to conversion. (17) 85% of the of the average of the three lowest closing prices during the 20-day trading period prior to conversion. (18) 65% of the lowest closing price during the 7-day trading period prior to conversion On July 19, 2021, the Company entered into a Settlement Agreement with Y.A. Global Investments, LP (“YA Global”). Pursuant to the Settlement Agreement, the Company issued a total of 2,225,000,000 shares of its common stock to YA Global from September 24, 2021 to October 13, 2021 (see Note N) in full settlement of its then $ 5,192,492 ($ 2,715,910 principal plus $ 2,476,582 accrued interest) liability to YA Global. In the Company’s evaluation of each convertible debt instrument in accordance with FASB ASC 815, Derivatives and Hedging see NOTE L – DERIVATIVE LIABILITY 6,178 and $ 0 , respectively. |
NOTES PAYABLE
NOTES PAYABLE | 6 Months Ended | 12 Months Ended |
Jun. 30, 2022 | Dec. 31, 2021 | |
Debt Disclosure [Abstract] | ||
NOTES PAYABLE | NOTE I – NOTES PAYABLE Notes payable consist of: SCHEDULE OF NOTES PAYABLE Principal Balance Accrued Interest Balance Description (i) September 30, 2022 December 31, 2021 September 30, 2022 December 31, 2021 Total $ 154,873 $ 127,873 $ 659,232 $ 578,661 Gary Sumner June 29, 2017 note, interest at 5 % compounded (default simple interest at 18 %), due March 31, 2018 $ 45,000 $ 45,000 $ 112,214 $ 106,155 LTC International Corp July 3, 2018 note, interest at 20.8 % (default interest at 41.6 %), due December 17, 2018 4,732 4,732 30,210 28,739 Richard Wynns July 27, 2010 note, interest at 18 % compounded (default compounded interest at 21 %), due January 23, 2011 25,000 25,000 283,815 240,877 William Rittman May 10, 2016 note, interest at 16 % compounded, due August 29, 2016 - 3,000 - - Barclay Lyons March 15, 2011 note, interest at 18.99 % (default interest at 28.99 %), due March 25, 2011 15,000 15,000 50,175 46,922 John Kroon March 17, 2010 note, interest at 18 % compounded (default compounded interest at 21 %), due September 13, 2010 10,000 10,000 123,228 104,704 Walter Jay Bell October 18, 2013 note, interest at 10 %, due November 29, 2013 10,000 10,000 9,005 8,257 Walter Jay Bell April 24, 2016 note, interest at 10 %, due September 30, 2016 8,641 8,641 2,806 2,483 George Ferch March 29, 2011 note, interest at 0 % (default compounded interest at 21 %), due June 27, 2011 5,000 5,000 46,771 39,572 Blackridge, LLC April 11, 2012 note, interest at 5 % (default interest at 5 %), due May 25, 2012 1,500 1,500 1,008 952 Michael Sobeck August 16, 2022 12% 30,000 - - - Total $ 154,873 $ 127,873 $ 659,232 $ 578,661 (i) Unless otherwise noted, interest is simple interest. | NOTE I – NOTES PAYABLE Notes payable consist of: SCHEDULE OF NOTES PAYABLE Principal Balance Accrued Interest Balance December 31, December 31, Description (i) 2021 2020 2021 2020 $ 45,000 $ $ 106,155 $ 98,055 Gary Sumner June 29, 2017 note, interest at 5% compounded (default simple interest at 18% ), due March 31, 2018 $ 45,000 $ 45,000 $ 106,155 $ 98,055 LTC International Corp July 3, 2018 note, interest at 20.8% (default interest at 41.6% ), due December 17, 2018 4,732 4,732 28,739 26,770 Richard Wynns July 27, 2010 note, interest at 18% compounded (default compounded interest at 21% ), due January 23, 2011 25,000 25,000 240,877 190,908 William Rittman May 10, 2016 note, interest at 16% compounded, due August 29, 2016 3,000 11,250 - 8,545 Barclay Lyons March 15, 2011 note, interest at 18.99% (default interest at 28.99% ), due March 25, 2011 15,000 15,000 46,922 42,574 John Kroon March 17, 2010 note, interest at 18% compounded (default compounded interest at 21% ), due September 13, 2010 10,000 10,000 104,704 83,146 Walter Jay Bell October 18, 2013 note, interest at 10% , due November 29, 2013 10,000 10,000 8,257 7,246 Walter Jay Bell April 24, 2016 note, interest at 10% , due June 30, 2016 8,641 8,641 2,483 2,046 George Ferch March 29, 2011 note, interest at 0% (default compounded interest at 21% ), due June 27, 2011 5,000 5,000 39,572 31,195 Blackridge, LLC April 11, 2012 note, interest at 5% (default interest at 5% ), due May 25, 2012 1,500 1,500 952 877 Total $ 127,873 $ 136,123 $ 578,661 $ 491,362 (i) Unless otherwise noted, interest is simple interest. CARBONMETA TECHNOLOGIES, INC. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS For the years ended December 31, 2021 and 2020 |
NOTES PAYABLE, RELATED PARTIES
NOTES PAYABLE, RELATED PARTIES | 6 Months Ended | 12 Months Ended |
Jun. 30, 2022 | Dec. 31, 2021 | |
Notes Payable Related Parties | ||
NOTES PAYABLE, RELATED PARTIES | NOTE J – NOTES PAYABLE, RELATED PARTIES As of September 30, 2022 and December 31, 2021, the Company had an aggregate total of $ 199,415 and $ 199,415 , respectively, in related party notes payable. These notes bear simple interest at rates ranging from 10 % to 18 % per annum, with default simple interest at rates ranging from 10 % to 24 % per annum. Accrued interest on related party notes payable totaled $ 458,072 and $ 426,110 at September 30, 2022 and December 31, 2021, respectively. | NOTE J – NOTES PAYABLE, RELATED PARTIES As of December 31, 2021 and 2020, the Company had an aggregate total of $ 199,415 and $ 157,854 , respectively, in related party notes payable. These notes bear simple interest at rates ranging from 10 % to 18 % per annum, with default simple interest at rates ranging from 10% to 24 % per annum. Accrued interest on related party notes payable totaled $ 426,110 and $ 390,342 at December 31, 2021 and 2020, respectively. |
SMALL BUSINESS ADMINISTRATION L
SMALL BUSINESS ADMINISTRATION LOAN | 6 Months Ended | 12 Months Ended |
Jun. 30, 2022 | Dec. 31, 2021 | |
Small Business Administration Loan | ||
SMALL BUSINESS ADMINISTRATION LOAN | NOTE K – SMALL BUSINESS ADMINISTRATION LOAN On April 17, 2002, the Company borrowed $ 989,100 under a note agreement with the Small Business Administration. The note bears interest at 4 % and is secured by the equipment and machinery assets of the Company. The balance outstanding at September 30, 2022 and December 31, 2021 was $ 979,950 and $ 979,950 , respectively. The note calls for monthly installments of principal and interest of $ 4,813 beginning September 17, 2002 and continuing until April 17, 2032. CARBONMETA TECHNOLOGIES, INC. AND SUBSIDIARIES Notes to the Condensed Consolidated Financial Statements For the three and nine months ended September 30, 2022 and 2021 (Unaudited) NOTE K – SMALL BUSINESS ADMINISTRATION LOAN (continued) The Company and the Small Business Administration reached an agreement in November 2010, whereby the Small Business Administration would accept $ 500 per month for 12 months with payment reverting back to $ 4,813 in November 2011. The Company only made four payments under the modification agreement. The Company continues to carry the loan as a current term liability because current payments are not being made, resulting in a default. Accrued interest payable on the note totaled $ 722,617 and $ 693,299 as of September 30, 2022 and December 31, 2021, respectively. | NOTE K – SMALL BUSINESS ADMINISTRATION LOAN On April 17, 2002, the Company borrowed $ 989,100 under a note agreement with the Small Business Administration. The note bears interest at 4 % and is secured by the equipment and machinery assets of the Company. The balance outstanding at December 31, 2021 and 2020 was $ 979,950 and $ 979,950 , respectively. The note calls for monthly installments of principal and interest of $ 4,813 beginning September 17, 2002 and continuing until April 17, 2032. The Company and the Small Business Administration reached an agreement in November 2010, whereby the Small Business Administration would accept $ 500 per month for 12 months with payment reverting back to $ 4,813 in November 2011. The Company only made four payments under the modification agreement. The Company continues to carry the loan as a current term liability because current payments are not being made, resulting in a default. Accrued interest payable on the note totaled $ 693,299 and $ 654,101 as of December 31, 2021 and 2020, respectively. |
DERIVATIVE LIABILITIES
DERIVATIVE LIABILITIES | 6 Months Ended | 12 Months Ended |
Jun. 30, 2022 | Dec. 31, 2021 | |
Derivative Liabilities | ||
DERIVATIVE LIABILITIES | NOTE L – DERIVATIVE LIABILITIES Effective July 31, 2009, the Company adopted ASC 815, which defines determining whether an instrument (or embedded feature) is solely indexed to an entity’s own stock. The conversion price of certain convertible notes and convertible preferred stock are variable and subject to the fair value of the Company’s common stock on the date of conversion. As a result, the Company has determined that the conversion features are not considered to be solely indexed to the Company’s own stock and is therefore not afforded equity treatment. In accordance with ASC 815, the Company has bifurcated the conversion of the instruments to be recorded as a derivative liability. ASC 815 requires Company management to assess the fair market value of certain derivatives at each reporting period and recognize any change in the fair market value as items of other income or expense. The Company’s only asset or liability measured at fair value on a recurring basis is its derivative liability associated with convertible notes payable and preferred stock. At origination and subsequent revaluations, the Company valued the derivative liabilities using the Black-Scholes options pricing model under the following assumptions as of September 30, 2022 and December 31, 2021: SUMMARY OF DERIVATIVE LIABILITIES September 30, 2022 December 31, 2021 Risk-free interest rate 2.86 4.23 % 0.73 % Expected options life 1 3 730 Expected dividend yield - - Expected price volatility 355.59 % 341.14 % For the nine months ended September 30, 2022, the Company’s derivative liabilities decreased from $ 11,904,070 at December 31, 2021 to $ 10,918,883 at September 30, 2022 and the Company recognized a gain from derivative liabilities of $ 981,881 . For the nine months ended September 30, 2021, the Company’s derivative liabilities decreased from $ 21,713,986 at December 31, 2020 to $ 18,612,166 at September 30, 2021 and the Company recognized a gain from derivative liabilities of $ 2,561,820 . | NOTE L – DERIVATIVE LIABILITY DERIVATIVE LIABILITIES Effective July 31, 2009, the Company adopted ASC 815, which defines determining whether an instrument (or embedded feature) is solely indexed to an entity’s own stock. The conversion price of certain convertible notes and convertible preferred stock are variable and subject to the fair value of the Company’s common stock on the date of conversion. As a result, the Company has determined that the conversion features are not considered to be solely indexed to the Company’s own stock and is therefore not afforded equity treatment. In accordance with ASC 815, the Company has bifurcated the conversion features of the instruments to be recorded as a derivative liability. CARBONMETA TECHNOLOGIES, INC. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS For the years ended December 31, 2021 and 2020 NOTE L – DERIVATIVE LIABILITY (continued) ASC 815 requires Company management to assess the fair market value of certain derivatives at each reporting period and recognize any change in the fair market value as items of other income or expense. The Company’s only asset or liability measured at fair value on a recurring basis is its derivative liability associated with convertible notes payable and preferred stock. At origination and subsequent revaluations, the Company valued the derivative liabilities using the Black-Scholes options pricing model under the following assumptions as of December 31, 2021 and 2020: SUMMARY OF DERIVATIVE LIABILITIES December 31, 2020 Risk-free interest rate 0.73 % 0.13 - 0.36 % Expected options life 1 - 2 yrs 1 - 3 yrs Expected dividend yield - - Expected price volatility 341 % 693 % For the year ended December 31, 2021, the Company’s derivative liability decreased from $ 21,713,986 at December 31, 2020 to $ 11,904,070 at December 31, 2021, and the Company recognized a gain from derivative liability of $ 9,809,916 . For the year ended December 31, 2020, the Company’s derivative liability increased from $ 11,312,105 at December 31, 2019 to $ 21,713,986 at December 31, 2020 and the Company recognized a loss from derivative liability of $ 10,401,881 . |
PREFERRED STOCK
PREFERRED STOCK | 6 Months Ended | 12 Months Ended |
Jun. 30, 2022 | Dec. 31, 2021 | |
Equity [Abstract] | ||
PREFERRED STOCK | NOTE M – PREFERRED STOCK a) Series A Preferred Stock The Company has authorized 125,000 shares of Series A Preferred Stock. Each share of Series A Preferred Stock (i) pays a dividend of 5 %, payable at the discretion of the Company in cash or common stock, (ii) is convertible immediately after issuance into the Company’s common stock at the lesser of $ 3.00 per share or 75% of the average closing bid prices over the 20 trading days immediately preceding the date of conversion, (iii) has a liquidation preference of $ 1.00 per share, (iv) may be redeemed by the Company at any time up to five years after the issuance date for $ 1.30 per share plus accrued and unpaid dividends, and (v) has no voting rights except as provided by Delaware law. There were no issuances, conversions or redemptions of Series A Preferred Stock during the nine months ended September 30, 2022 and during the year ended December 31, 2021. At September 30, 2022 and December 31, 2021, the Company had 0 and 0 shares of Series A Preferred Stock issued and outstanding, respectively. CARBONMETA TECHNOLOGIES, INC. AND SUBSIDIARIES Notes to the Condensed Consolidated Financial Statements For the three and nine months ended September 30, 2022 and 2021 (Unaudited) NOTE M – PREFERRED STOCK (continued) b) Series B Preferred Stock The Company has authorized 525,000 shares of Series B Preferred Stock. Each share of Series B Preferred Stock (i) pays a dividend of 5 %, payable at the discretion of the Company in cash or common stock, (ii) is convertible immediately after issuance into the Company’s common stock at the lesser of $ 3,000 per share or 75% of the average closing bid prices over the 20 trading days immediately preceding the date of conversion, (iii) has a liquidation preference of $ 1.00 per share, (iv) may be redeemed by the Company at any time up to five years after the issuance date for $ 1.30 There were no issuances, conversions or redemptions of Series B Preferred Stock during the nine months ended September 30, 2022 and during the year ended December 31, 2021. At September 30, 2022 and December 31, 2021, the Company had 159,666 and 159,666 shares of Series B Preferred Stock issued and outstanding, respectively. Based upon the Company’s evaluation of the terms and conditions of the Series B Preferred Stock, the embedded conversion feature related to the Series B Preferred Stock was afforded the exemption as a conventional convertible instrument due to certain variabilities in the conversion price and met the conditions for equity classification. However, the Company is required to bifurcate the embedded conversion feature and carry it as a derivative liability. The Company estimated the fair value of the compound derivative using a common stock equivalent and the current share price of the Company’s common stock. As a result of this estimate, the Company’s valuation model resulted in a compound derivative balance associated with the Series B Preferred Stock of $ 173,767 and $ 177,743 as of September 30, 2022 and December 31, 2021, respectively. These amounts are included as a derivative liability on the Company’s unaudited condensed consolidated balance sheet. Fair value adjustments of $ 80,910 , $ 62,283 , $ 3,976 , and $204,754 were credited (charged) to derivative income (expense) for the three and nine months ended September 30, 2022 and 2021, respectively. c) Series C Preferred Stock The Company has authorized 500,000 shares of Series C Preferred Stock. During 2007, the Company initiated a private offering under Regulation D of the Securities Act of 1933 (the “Private Offering”), of an aggregate 500,000 units (collectively referred to as the “Units”) at a price of $ 1.00 per Unit, with each Unit consisting of one share of Series C Preferred Stock at the lesser of 85 % of the average closing bid price of the common stock over the 20 trading days immediately preceding the date of conversion, or $ 2,400 per share and stock purchase warrants equal to the number of shares of common stock converted from the Series C Preferred Stock, exercisable at $ 3,600 per share and which expire five years from the conversion date. There were no issuances, conversions or redemptions of Series C Preferred Stock during the nine months ended September 30, 2022 and during the year ended December 31, 2021. At September 30, 2022 and December 31, 2021, the Company had 0 and 0 shares of Series C Preferred Stock issued and outstanding, respectively. d) Series D Preferred Stock On November 10, 2011, the Board approved by unanimous written consent an amendment to the Company’s Certificate of Incorporation to designate the rights and preferences of Series D Preferred Stock. There are 500,000 shares of Series D Preferred Stock authorized with a par value of $ 0.001 . Each share of Series D Preferred Stock has a stated value equal to $ 1.00 . These preferred shares rank higher than all other securities. Each outstanding share of Series D Preferred Stock shall be convertible into the number of shares of the Company’s common stock determined by dividing the stated value by the conversion price which is defined as 85 % of the average closing bid price of the common stock over the twenty trading days immediately preceding the date of conversion, but no less than par value of the common stock. Mandatory conversion could have been demanded by the Company prior to October 1, 2013. Each share of the Series D Preferred Stock shall have voting rights equal to 100,000 votes of common stock. CARBONMETA TECHNOLOGIES, INC. AND SUBSIDIARIES Notes to the Condensed Consolidated Financial Statements For the three and nine months ended September 30, 2022 and 2021 (Unaudited) NOTE M – PREFERRED STOCK (continued) There were no issuances, conversions or redemptions of Series D Preferred Stock during the nine months ended September 30, 2022 and during the year ended December 31, 2021. At September 30, 2022 and December 31, 2021 there were 100,000 shares of Series D Preferred Stock issued and outstanding. Based upon the Company’s evaluation of the terms and conditions of the Series D Preferred Stock, the embedded conversion feature related to the Series D Preferred Stock was afforded the exemption as a conventional convertible instrument due to certain variabilities in the conversion price and met the conditions for equity classification. However, the Company is required to bifurcate the embedded conversion feature and carry it as a derivative liability. The Company estimated the fair value of the compound derivative using a common stock equivalent and the current share price of the Company’s common stock. As a result of this estimate, the Company’s valuation model resulted in a compound derivative balance associated with the Series D Preferred Stock of $ 298,772 and $ 396,956 as of September 30, 2022 and December 31, 2021, respectively. These amounts are included as a derivative liability on the Company’s unaudited condensed consolidated balance sheet. Fair value adjustments of $ 96,167 1,198,296 98,184 593,737 e) Series E Preferred Stock On March 9, 2012, the Company filed the Certificate of Designation of the Rights and Preferences of Series E Preferred Stock of the Company with the Delaware Secretary of the State pursuant to which the Company set forth the designation, powers, rights, privileges, preferences and restrictions of 1,000,000 authorized shares of Series E Preferred Stock, par value $ 0.001 per share. The Series E Preferred Stock is convertible into common stock at 50% of the lowest closing bid price of the common stock over the 20 days immediately prior the date of conversion, but no less than the par value of the common stock. There were no issuances, conversions or redemptions of Series E Preferred Stock during the nine months ended September 30, 2022 and during the year ended December 31, 2021. At September 30, 2022 and December 31, 2021, there were 821,377 and 791,567 shares of Series E Preferred Stock issued and outstanding, respectively. Based upon the Company’s evaluation of the terms and conditions of the Series E Preferred Stock, the embedded conversion feature related to the Series E Preferred Stock was afforded the exemption as a conventional convertible instrument due to certain variabilities in the conversion price and met the conditions for equity classification. However, the Company is required to bifurcate the embedded conversion feature and carry it as a derivative liability. The Company estimated the fair value of the compound derivative using a common stock equivalent and the current share price of the Company’s common stock. As a result of this estimate, the Company’s valuation model resulted in a compound derivative balance associated with the Series E Preferred Stock of $ 2,454,045 and $ 2,469,349 as of September 30, 2022 and December 31, 2021, respectively. These amounts are included as a derivative liability on the Company’s unaudited condensed consolidated balance sheet. Fair value adjustments of $ 672,158 8,031,224 15,304 3,692,330 f) Series F Preferred Stock On October 4, 2013, the Company filed the certificate of designation pursuant to which the Company set forth the designation, powers, rights, privileges, preferences and restrictions of 500,000 authorized shares of Series F Preferred Stock, par value $ 0.001 per share. CARBONMETA TECHNOLOGIES, INC. AND SUBSIDIARIES Notes to the Condensed Consolidated Financial Statements For the three and nine months ended September 30, 2022 and 2021 (Unaudited) NOTE M – PREFERRED STOCK (continued) The shares of Series F Preferred Stock have a stated value of $ 1.00 , have no voting rights, are entitled to no dividends due or payable and are convertible into the number of shares of the Company’s common stock determined by dividing the stated value by the conversion price, which is defined as 85% of the average closing bid price of the common stock over the five trading days immediately preceding the date of conversion, but no less than the par value of the common stock. At any time after the issuance date through the fifth anniversary of the issuance of the Series F Preferred Stock, the Company shall have the option to redeem any unconverted shares at an amount equal to 130 % of the stated value of the Series F Preferred Stock plus accrued and unpaid dividends, if any. Redemption shall be established by the Company in its sole and absolute discretion and no holder of Series F Preferred Stock may demand that the Series F Preferred Stock be redeemed. There were no issuances, conversions or redemptions of Series F Preferred Stock during the nine months ended September 30, 2022 and during the year ended December 31, 2021. At September 30, 2022 and December 31, 2021, the Company had 190,000 and 180,000 shares of Series F Preferred Stock issued and outstanding, respectively. Based upon the Company’s evaluation of the terms and conditions of the Series F Preferred Stock, the embedded conversion feature related to the Series F Preferred Stock was afforded the exemption as a conventional convertible instrument due to certain variabilities in the conversion price and met the conditions for equity classification. However, the Company is required to bifurcate the embedded conversion feature and carry it as a derivative liability. The Company estimated the fair value of the compound derivative using a common stock equivalent and the current share price of the Company’s common stock. As a result of this estimate, the Company’s valuation model resulted in a compound derivative balance associated with the Series F Preferred Stock of $ 567,667 and $ 754,217 as of September 30, 2022 and December 31, 2021, respectively. These amounts are included as a derivative liability on the Company’s unaudited condensed consolidated balance sheet. Fair value adjustments of $ 143,222 2,276,763 186,550 1,128,099 g) Series G Preferred Stock On April 17, 2014, the Company filed the certificate of designation pursuant to which the Company set forth the designation, powers, rights, privileges, preferences and restrictions of 500,000 authorized shares of Series G Preferred Stock, par value $ 0.001 per share. The shares of Series G Preferred Stock have a stated value of $ 1.00 , have voting rights equal to 5,000,000 votes of common stock , are entitled to no dividends due or payable, are non-redeemable, and are convertible into the number of shares of the Company’s common stock determined by dividing the stated value by the conversion price, which is defined as 85 % of the average closing bid price of the common stock over the twenty trading days immediately preceding the date of conversion, but no less than par value of the common stock. There were no issuances, conversions or redemptions of Series G Preferred Stock during the nine months ended September 30, 2022 and during the year ended December 31, 2021. At September 30, 2022 and December 31, 2021, the Company had 25,000 and 25,000 shares of Series G Preferred Stock issued and outstanding, respectively. Based upon the Company’s evaluation of the terms and conditions of the Series G Preferred Stock, the embedded conversion feature related to the Series G Preferred Stock was afforded the exemption as a conventional convertible instrument due to certain variabilities in the conversion price and met the conditions for equity classification. However, the Company is required to bifurcate the embedded conversion feature and carry it as a derivative liability. The Company estimated the fair value of the compound derivative using a common stock equivalent and the current share price of the Company’s common stock. As a result of this estimate, the Company’s valuation model resulted in a compound derivative balance associated with the Series G Preferred Stock of $ 74,693 and $ 99,239 as of September 30, 2022 and December 31, 2021, respectively. These amounts are included as a derivative liability on the Company’s unaudited condensed consolidated balance sheet. Fair value adjustments of $ 24,042 299,566 24,546 148,434 CARBONMETA TECHNOLOGIES, INC. AND SUBSIDIARIES Notes to the Condensed Consolidated Financial Statements For the three and nine months ended September 30, 2022 and 2021 (Unaudited) | NOTE M – PREFERRED STOCK a) Series A Preferred Stock The Company has authorized 125,000 shares of Series A Preferred Stock. Each share of Series A Preferred Stock (i) pays a dividend of 5 %, payable at the discretion of the Company in cash or common stock, (ii) is convertible immediately after issuance into the Company’s common stock at the lesser of $3,000 per share (as adjusted for the November 20, 2006 1 for 10, the April 8, 2009 1 for 300 and the July 12, 2012 1 for 200 reverse stock splits ) or 75% of the average closing bid prices over the 20 trading days immediately preceding the date of conversion, (iii) has a liquidation preference of $ 1.00 per share, (iv) may be redeemed by the Company at any time up to five years after the issuance date for $ 1.30 per share plus accrued and unpaid dividends, and (v) has no voting rights except as provided by Delaware law. There were no issuances, conversions or redemptions of Series A Preferred Stock during the years ended December 31, 2021 and December 31, 2020. At December 31, 2021 and 2020, the Company had 0 and 0 shares of Series A Preferred Stock issued and outstanding, respectively. b) Series B Preferred Stock The Company has authorized 525,000 shares of Series B Preferred Stock. Each share of Series B Preferred Stock (i) pays a dividend of 5 %, payable at the discretion of the Company in cash or common stock, (ii) is convertible immediately after issuance into the Company’s common stock at the lesser of $3,000 per share (as adjusted for the November 20, 2006 1 for 10, the April 8, 2009 1 for 300 and the July 12, 2012 1 for 200 reverse stock splits ) or 75% of the average closing bid prices over the 20 trading days immediately preceding the date of conversion, (iii) has a liquidation preference of $ 1.00 per share, (iv) may be redeemed by the Company at any time up to five years after the issuance date for $ 1.30 per share plus accrued and unpaid dividends, and (v) has no voting rights except as provided by Delaware law. CARBONMETA TECHNOLOGIES, INC. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS For the years ended December 31, 2021 and 2020 NOTE M – PREFERRED STOCK (continued) There were no issuances, conversions or redemptions of Series B Preferred Stock during the years ended December 31, 2021 and December 31, 2020. At December 31, 2021 and 2020, the Company had 159,666 and 159,666 shares of Series B Preferred Stock issued and outstanding, respectively. Based upon the Company’s evaluation of the terms and conditions of the Series B Preferred Stock, the embedded conversion feature related to the Series B Preferred Stock was afforded the exemption as a conventional convertible instrument due to certain variabilities in the conversion price and met the conditions for equity classification. However, the Company is required to bifurcate the embedded conversion feature and carry it as a derivative liability. The Company estimated the fair value of the compound derivative using a common stock equivalent and the current share price of the Company’s common stock. As a result of this estimate, the Company’s valuation model resulted in a compound derivative balance associated with the Series B Preferred Stock of $ 177,743 and $ 425,776 as of December 31, 2021 and 2020, respectively. These amounts are included as a derivative liability on the Company’s consolidated balance sheet. Fair value adjustments of $ 248,033 and ($ 212,888 ) were credited (charged) to derivative income (expense) for the years ended December 31, 2021 and 2020, respectively. c) Series C Preferred Stock The Company has authorized 500,000 shares of Series C Preferred Stock. During 2007, the Company initiated a private offering under Regulation D of the Securities Act of 1933 (the “Private Offering”), of an aggregate 500,000 units (collectively referred to as the “Units”) at a price of $ 1.00 per Unit, with each Unit consisting of one share of Series C Preferred Stock convertible at the lesser of 85 % of the average closing bid price of the common stock over the 20 trading days immediately preceding the date of conversion, or $ 0.04 per share and stock purchase warrants equal to the number of shares of common stock converted from the Series C Preferred Stock, exercisable at $ 0.06 per share and which expire five years from the conversion date. There were no issuances, conversions or redemptions of Series C Preferred Stock during the years ended December 31 2021 and 2020. At December 31, 2021 and 2020, the Company had 0 and 0 shares of Series C Preferred Stock issued and outstanding, respectively. d) Series D Preferred Stock On November 10, 2011, the Board approved by unanimous written consent an amendment to the Company’s Certificate of Incorporation to designate the rights and preferences of Series D Preferred Stock. There are 500,000 shares of Series D Preferred Stock authorized with a par value of $ 0.001 . Each share of Series D Preferred Stock has a stated value equal to $ 1.00 . These preferred shares rank higher than all other securities. Each outstanding share of Series D Preferred Stock shall be convertible into the number of shares of the Company’s common stock determined by dividing the stated value by the conversion price which is defined as 85 % of the average closing bid price of the common stock over the twenty trading days immediately preceding the date of conversion, but no less than par value of the common stock. Mandatory conversion can be demanded by the Company prior to October 1, 2013. Each share of the Series D Preferred Stock shall have voting rights equal to 100,000 votes of common stock . There were no issuances, conversions or redemptions of Series D Preferred Stock during the years ended December 31, 2021 and 2020. At December 31, 2021 and 2020, there were 100,000 and 100,000 shares of Series D Preferred Stock issued and outstanding, respectively. CARBONMETA TECHNOLOGIES, INC. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS For the years ended December 31, 2021 and 2020 NOTE M – PREFERRED STOCK (continued) Based upon the Company’s evaluation of the terms and conditions of the Series D Preferred Stock, the embedded conversion feature related to the Series D Preferred Stock was afforded the exemption as a conventional convertible instrument due to certain variabilities in the conversion price and met the conditions for equity classification. However, the Company is required to bifurcate the embedded conversion feature and carry it as a derivative liability. The Company estimated the fair value of the compound derivative using a common stock equivalent and the current share price of the Company’s common stock. As a result of this estimate, the Company’s valuation model resulted in a compound derivative balance associated with the Series D Preferred Stock of $ 396,956 and $ 200,000 as of December 31, 2021 and 2020, respectively. These amounts are included as a derivative liability on the Company’s consolidated balance sheet. Fair value adjustments of ($ 196,956 ) and ($ 100,000 ) were charged to derivative income (expense) for the years ended December 31, 2021 and 2020, respectively. e) Series E Preferred Stock On March 9, 2012, the Company filed the Certificate of Designation of the Rights and Preferences of Series E Preferred Stock of the Company with the Delaware Secretary of the State pursuant to which the Company set forth the designation, powers, rights, privileges, preferences and restrictions of 1,000,000 authorized shares of Series E Preferred Stock, par value $ 0.001 per share. The Series E Preferred Stock is convertible into common stock at 50 % of the lowest closing bid price of the common stock over the 20 days immediately prior to the date of conversion, but no less than the par value of the common stock. There were no issuances, conversions or redemptions of Series E Preferred Stock during the years ended December 31, 2021 and 2020. At December 31, 2021 and 2020, there were 791,567 and 791,567 shares of Series E Preferred Stock issued and outstanding, respectively. Based upon the Company’s evaluation of the terms and conditions of the Series E Preferred Stock, the embedded conversion feature related to the Series E Preferred Stock was afforded the exemption as a conventional convertible instrument due to certain variabilities in the conversion price and met the conditions for equity classification. However, the Company is required to bifurcate the embedded conversion feature and carry it as a derivative liability. The Company estimated the fair value of the compound derivative using a common stock equivalent and the current share price of the Company’s common stock. As a result of this estimate, the Company’s valuation model resulted in a compound derivative balance associated with the Series E Preferred Stock of $ 2,469,349 and $ 1,388,822 as of December 31, 2021 and 2020, respectively. These amounts are included as a derivative liability on the Company’s consolidated balance sheet. Fair value adjustments of ($ 1,080,527) , and ($ 622,071) were charged to derivative income (expense) for the years ended December 31, 2021 and 2020, respectively. f) Series F Preferred Stock On October 4, 2013, the Company filed the certificate of designation pursuant to which the Company set forth the designation, powers, rights, privileges, preferences and restrictions of 500,000 authorized shares of Series F Preferred Stock, par value $ 0.001 per share. CARBONMETA TECHNOLOGIES, INC. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS For the years ended December 31, 2021 and 2020 NOTE M – PREFERRED STOCK (continued) The shares of Series F Preferred Stock have a stated value of $ 1.00 , have no voting rights, are entitled to no dividends due or payable and are convertible into the number of shares of the Company’s common stock determined by dividing the stated value by the conversion price, which is defined as 85% of the average closing bid price of the common stock over the five trading days immediately preceding the date of conversion, but no less than the par value of the common stock. At any time after the issuance date through the fifth anniversary of the issuance of the Series F Preferred Stock, the Company shall have the option to redeem any unconverted shares at an amount equal to 130 % of the stated value of the Series F Preferred Stock plus accrued and unpaid dividends, if any. Redemption shall be established by the Company in its sole and absolute discretion and no holder of Series F Preferred Stock may demand that the Series F Preferred Stock be redeemed. There were no issuances, conversions or redemptions of Series F Preferred Stock during the years ended December 31, 2021 and 2020. At December 31, 2021 and 2020, the Company had 180,000 and 180,000 shares of Series F Preferred Stock issued and outstanding, respectively. Based upon the Company’s evaluation of the terms and conditions of the Series F Preferred Stock, the embedded conversion feature related to the Series F Preferred Stock was afforded the exemption as a conventional convertible instrument due to certain variabilities in the conversion price and met the conditions for equity classification. However, the Company is required to bifurcate the embedded conversion feature and carry it as a derivative liability The Company estimated the fair value of the compound derivative using a common stock equivalent and the current share price of the Company’s common stock. As a result of this estimate, the Company’s valuation model resulted in a compound derivative balance associated with the Series F Preferred Stock of $ 754,217 and $ 380,000 as of December 31, 2021 and 2020, respectively. These amounts are included as a derivative liability on the Company’s consolidated balance sheet. Fair value adjustments of ($ 374,217 ), and ($ 190,000 ) were charged to derivative income (expense) for the years ended December 31, 2021 and 2020, respectively. g) Series G Preferred Stock On April 17, 2014, the Company filed the certificate of designation pursuant to which the Company set forth the designation, powers, rights, privileges, preferences and restrictions of 500,000 authorized shares of Series G Preferred Stock, par value $ 0.001 per share. The shares of Series G Preferred Stock have a stated value of $ 1.00 , have voting rights equal to 5,000,000 votes of common stock , are entitled to no dividends due or payable, are non-redeemable, and are convertible into the number of shares of the Company’s common stock determined by dividing the stated value by the conversion price, which is defined as 85 % of the average closing bid price of the common stock over the twenty trading days immediately preceding the date of conversion, but no less than par value of the common stock. There were no issuances, conversions or redemptions of Series G Preferred Stock during the years ended December 31, 2021 and 2020. At December 31, 2021 and 2020, the Company had 25,000 and 25,000 shares of Series G Preferred Stock issued and outstanding, respectively. Based upon the Company’s evaluation of the terms and conditions of the Series G Preferred Stock, the embedded conversion feature related to the Series G Preferred Stock was afforded the exemption as a conventional convertible instrument due to certain variabilities in the conversion price and met the conditions for equity classification. However, the Company is required to bifurcate the embedded conversion feature and carry it as a derivative liability. CARBONMETA TECHNOLOGIES, INC. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS For the years ended December 31, 2021 and 2020 NOTE M – PREFERRED STOCK (continued) The Company estimated the fair value of the compound derivative using a common stock equivalent and the current share price of the Company’s common stock. As a result of this estimate, the Company’s valuation model resulted in a compound derivative balance associated with the Series G Preferred Stock of $ 99,239 and $ 50,000 as of December 31, 2021 and 2020, respectively. These amounts are included as a derivative liability on the Company’s consolidated balance sheet. Fair value adjustments of ($ 49,239 ) and ($ 25,000 ) were charged to derivative income (expense) for the years ended December 31, 2021 and 2020, respectively. |
COMMON STOCK AND TREASURY STOCK
COMMON STOCK AND TREASURY STOCK | 6 Months Ended | 12 Months Ended |
Jun. 30, 2022 | Dec. 31, 2021 | |
Equity [Abstract] | ||
COMMON STOCK AND TREASURY STOCK | NOTE N – COMMON STOCK AND TREASURY STOCK Common Stock The Company is authorized to issue up to 35,000,000,000 shares of $ 0.0001 par value common stock, of which 18,589,705,254 and 17,403,876,165 shares were outstanding as of September 30, 2022 and December 31, 2021, respectively. Issuances during the nine months ended September 30, 2022: On January 21, 2022, the Company issued 206,896,552 dated July 19, 2021 On January 21, 2022, the Company issued its sole officer and director, Lloyd Spencer, 428,571,428 150,000 On February 14, 2022, the Company issued 83,333,334 On February 14, 2022, the Company issued its sole officer and director, Lloyd Spencer, 30,000,000 On February 14, 2022, the Company issued a total of 90,000,000 30,000,000 On February 17, 2022, the Company issued 160,000,000 eement dated December 2, 2021 between Ecomena Limited and CarbonMeta Technologies, Inc. (see Note A, License Agreements). On March 7, 2022, the Company issued 33,000,000 66,000 On March 21, 2022, the Company issued 27,500,000 55,000 On April 4, 2022, the Company issued 20,000,000 shares of its common stock to Bill Elder, a third-party contractor, as compensation for his business development services. On May 10, 2022, the Company issued 16,527,775 shares of its common stock to MacRab, LLC in connection with a $ 33,056 convertible note financing. On July 14, 2022, the Company issued 25,000,000 25,000 On July 14, 2022, the Company issued 25,000,000 25,000 On August 4, 2022, the Company issued 25,000,000 25,000 On September 12, 2022, the Company issued 15,000,000 15,000 Treasury Stock As of September 30, 2022 and December 31, 2021, the Company held 188,181,000 and 188,181,000 shares of common stock in treasury, respectively. CARBONMETA TECHNOLOGIES, INC. AND SUBSIDIARIES Notes to the Condensed Consolidated Financial Statements For the three and nine months ended September 30, 2022 and 2021 (Unaudited) | NOTE N – COMMON STOCK AND TREASURY STOCK Common Stock The Company is authorized to issue up to 35,000,000,000 shares of $ 0.0001 par value common stock, of which 17,403,876,165 and 13,513,561,065 shares were outstanding as of December 31, 2021 and 2020, respectively. Issuances during the year ended December 31, 2021: On March 9, 2021, the Company issued 7,500,000,000 shares of its common stock to its sole officer and director, Lloyd Spencer, as compensation for accrued wages of $ 750,000 for fiscal years 2016, 2017, 2018, 2019 and 2020. On May 28, 2021, the Company issued 400,315,100 shares of common stock to a noteholder (Tangiers Investment Group, LLC) in satisfaction of $ 17,000 principal and $ 23,032 interest. On June 4, 2021, the Company’s sole officer and director, Lloyd Spencer, returned 7,500,000,000 shares of common stock previously issued to Mr. Spencer on March 9, 2021 (see second preceding paragraph) for accrued compensation so that the shares may be used for future business transactions. On August 10, 2021, the Company issued 250,000,000 shares of common stock to a noteholder (Y.A. Global Investments, LP) in satisfaction of $ 25,000 principal against a convertible note. On September 14, 2021, the Company issued 250,000,000 shares of common stock to a noteholder (Tangiers Investment Group, LLC) in satisfaction of $ 25,000 principal against a convertible note. On September 24, 2021, the Company issued 666,666,666 shares of common stock to a noteholder (YA Global Investments, LP) in satisfaction of $ 200,000 principal against a convertible note. On September 27, 2021, the Company issued 666,666,666 shares of common stock to a noteholder (YA Global Investments, LP) in satisfaction of $ 200,000 principal against a convertible note. On October 7, 2021, the Company issued 458,333,333 shares of common stock to a noteholder (YA Global Investments, LP) in satisfaction of $ 137,500 principal against a convertible note. On October 13, 2021, the Company issued 458,333,335 shares of common stock to a noteholder (YA Global Investments, LP) in satisfaction of $ 137,500 principal against a convertible note. On October 21, 2021, the Company issued 200,000,000 shares of common stock to an investor for shares purchased through the Company’s Regulation 1-A offering at $ 0.0005 per share. On October 22, 2021, the Company issued 120,000,000 shares of common stock to an investor for shares purchased through the Company’s Regulation 1-A offering at $ 0.0005 per share. On October 22, 2021, the Company issued 20,000,000 shares of common stock to an investor for shares purchased through the Company’s Regulation 1-A offering at $ 0.0005 per share. On November 4, 2021, the Company issued 200,000,000 shares of common stock to an investor for shares purchased through the Company’s Regulation 1-A offering at $ 0.0005 per share. On November 10, 2021, the Company issued 100,000,000 shares of common stock to an investor for shares purchased through the Company’s Regulation 1-A offering at $ 0.0005 per share. On November 12, 2021, the Company issued 100,000,000 shares of common stock to an investor for shares purchased through the Company’s Regulation 1-A offering at $ 0.0005 per share. Issuances during the year ended December 31, 2020: None Treasury Stock As of December 31, 2021 and 2020, the Company held 188,181,000 shares of common stock in treasury. |
STOCK OPTIONS AND WARRANTS
STOCK OPTIONS AND WARRANTS | 6 Months Ended | 12 Months Ended |
Jun. 30, 2022 | Dec. 31, 2021 | |
Share-Based Payment Arrangement [Abstract] | ||
STOCK OPTIONS AND WARRANTS | NOTE O – STOCK OPTIONS AND WARRANTS At September 30, 2022, the Company has outstanding a total of 1,146,000,000 warrants/options to the persons and upon the terms below: SCHEDULE OF WARRANTS/OPTIONS ISSUED Name Date of Issuance Shares upon Exercise of warrants or options Exercise Price Expiration Date Lloyd Spencer (i) March 7, 2022 165,000,000 $ 0.0002 March 7, 2027 Tangiers Investment Group, LLC (ii) March 21, 2022 125,000,000 $ 0.0004 March 21, 2027 J.H. Darbie & Co., Inc. (iii) March 28, 2022 19,125,000 $ 0.0004 March 28, 2027 MacRab LLC (iv) April 14, 2022 500,000,000 $ 0.0004 April 14, 2027 MacRab LLC (v) May 10, 2022 74,375,000 $ 0.0004 May 10, 2027 BHP Capital NY Inc. (vi) July 14, 2022 62,500,000 $ 0.0004 July 14, 2027 Quick Capital LLC (vii) July 14, 2022 62,500,000 $ 0.0004 July 14, 2027 Robert Papiri Defined Benefit Plan (viii) July 15, 2022 25,000,000 $ 0.0004 July 15, 2027 Robert Papiri Defined Contribution Plan(ix) July 15, 2022 6,250,000 $ 0.0004 July 15, 2027 RPG Capital Partners Inc. (x) July 15, 2022 6,250,000 $ 0.0004 July 15, 2027 RPG Capital Partners Inc. (xi) August 4, 2022 62,500,000 $ 0.0004 August 4, 2027 RPG Capital Partners Inc. (xii) Sept 12, 2022 37,500,000 $ 0.0004 Sept 12, 2027 Total 1,146,000,000 (i) On March 7, 2022, the Company issued Lloyd Spencer (the “Holder”) a Fixed Convertible Promissory Note (the “Note”) in the amount of $ 66,000 . The Note has a term of one ( 1 ) year (Maturity date of March 7, 2023 ) and bears interest at 12 % annually. The Note is convertible, in whole or in part, at any time and from time to time before maturity at the option of the Holder at the Fixed Conversion Price of $ 0.0002 per share. Upon the event of default, the Note shall accrue interest at the rate equal to the lower of 16 % per annum or the highest rate permitted by law. The transaction closed on March 7, 2022. In connection with this note, the Holder was issued warrants to purchase 165,000,000 shares of the Company’s Common Stock at $ 0.0004 per share. (ii) On March 21, 2022, the Company issued Tangiers Investment Group, LLC (the “Holder”) a Fixed Convertible Promissory Note (the “Note”) in the amount of $ 55,000 . The Note has a term of one ( 1 ) year (Maturity date of March 21, 2023 ) and bears interest at 12 % annually. The Note is convertible, in whole or in part, at any time and from time to time before maturity at the option of the Holder at the Fixed Conversion Price of $ 0.0002 per share. Upon the event of default, the Note shall accrue interest at the rate equal to the lower of 16 % per annum or the highest rate permitted by law. The transaction closed on March 21, 2022. In connection with this note, the Holder was issued warrants to purchase 125,000,000 shares of the Company’s Common Stock at $ 0.0004 per share. (iii) On February 23, 2022, the Company and J.H. Darbie & Co., Inc. (“Darbie”) entered into a Placement Agent Agreement (the “Agreement”). Under the terms of the Agreement, Darbie was issued warrants to purchase 19,125,000 0.0004 (iv) On April 14, 2022, the Company and MacRab, LLC (the “Investor”) entered into a Standby Equity Commitment Agreement (the “Agreement”) whereby the Company shall issue and sell to the Investor, from time to time, up to $ 5,000,000 88 500,000,000 0.0004 (v) On May 10, 2022, the Company issued MacRab, LLC (the “Holder”) a Fixed Convertible Promissory Note (the “Note”) in the amount of $ 33,056 1 May 10, 2023 12 0.0002 five-year 74,375,000 0.0004 16,527,775 (vi) On July 14, 2022, the Company issued BHP Capital NY Inc. (the “Holder”) a Fixed Convertible Promissory Note (the “Note”) in the principal amount of $ 25,000 1 July 14, 2023 12% 0.0002 five-year 62,500,000 0.0004 212,500,000 (vii) On July 14, 2022, the Company issued Quick Capital, LLC (the “Holder”) a Fixed Convertible Promissory Note (the “Note”) in the principal amount of $ 25,000 1 July 14, 2023 0.0002 five-year 62,500,000 0.0004 212,500,000 (viii) On July 15, 2022, the Company issued the Robert Papiri Defined Benefit Plan (the “Holder”) a Fixed Convertible Promissory Note (the “Note”) in the principal amount of $ 10,000 1 July 15, 2023 0.0002 five-year 25,000,000 0.0004 85,000,000 CARBONMETA TECHNOLOGIES, INC. AND SUBSIDIARIES Notes to the Condensed Consolidated Financial Statements For the three and nine months ended September 30, 2022 and 2021 (Unaudited) (ix) On July 15, 2022, the Company issued the Robert Papiri Defined Contribution Plan (the “Holder”) a Fixed Convertible Promissory Note (the “Note”) in the principal amount of $ 2,500 1 July 15, 2023 0.0002 five-year 6,250,000 0.0004 21,250,000 (x) On July 15, 2022, the Company issued the RGP Capital Partners, Inc. (the “Holder”) a Fixed Convertible Promissory Note (the “Note”) in the principal amount of $ 2,500 1 July 15, 2023 0.0002 five-year 6,250,000 0.0004 21,250,000 (xi) On August 4, 2022, the Company issued the RGP Capital Partners, Inc. (the “Holder”) a Fixed Convertible Promissory Note (the “Note”) in the principal amount of $ 25,000 1 July 27, 2023 0.0002 five-year 62,500,000 0.0004 212,500,000 (xii) On September 12, 2022, the Company issued the RGP Capital Partners, Inc. (the “Holder”) a Fixed Convertible Promissory Note (the “Note”) in the principal amount of $ 15,000 1 September 12, 2023 0.0002 five-year 37,500,000 0.0004 212,500,000 | NOTE O – STOCK OPTIONS AND WARRANTS Employee Stock Options None Non-employee Stock Options None Stock Purchase Warrants As of December 31, 2021 and 2020, the Company had 0 and 0 outstanding warrants, respectively. Please see NOTE Q – SUBSEQUENT EVENTS |
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 6 Months Ended |
Jun. 30, 2022 | |
Commitments and Contingencies Disclosure [Abstract] | |
COMMITMENTS AND CONTINGENCIES | NOTE P – COMMITMENTS AND CONTINGENCIES Employment Agreement with Chief Executive Officer On May 13, 2006, the Company executed an Employment Agreement (the “Agreement”) with Lloyd Spencer for Spencer to serve as the Company’s Chief Executive Officer. The Agreement provides for a 5-year term of employment to May 15, 2011 12,500 For the nine months ended September 30, 2022 and 2021, chief executive officer compensation expense was $ 112,500 112,500 837,000 874,500 Major Customer For the three and nine months ended September 30, 2022, one customer (located in Spain) accounted for 100 |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 6 Months Ended | 12 Months Ended |
Jun. 30, 2022 | Dec. 31, 2021 | |
Subsequent Events [Abstract] | ||
SUBSEQUENT EVENTS | NOTE Q – SUBSEQUENT EVENTS On November 1, 2022, the Company issued Quick Capital, LLC (the “Holder”) a Fixed Convertible Promissory Note (the “Note”) in the principal amount of $ 10,000 1 November 1, 2023 12% 0.0002 16% 17,000,000 67,000,000 On November 7, 2022, the Company issued 2,500,000 2,500 On November 16, 2022, the Company issued the Robert Papiri Defined Benefit Plan (the “Holder”) a Fixed Convertible Promissory Note (the “Note”) in the principal amount of $ 10,000 1 November 16, 2023 12% 0.0002 16% 17,000,000 67,000,000 | NOTE Q – SUBSEQUENT EVENTS On January 11, 2022, the Company entered into an Interim Joint Product Development and Sales Representation Agreement (the “Agreement”) with Salvum Corporation. Under the terms of the Agreement, the parties agree to work together to develop both CarbonMeta’s proprietary cementless paver products known as “Cementless Paver” and Salvum’s proprietary concrete alternative products known as “Earthcrete.” During the Term, Salvum agrees to manufacture CarbonMeta’s proprietary cementless paver products known as “Cementless Paver”. CarbonMeta reserves the right to appoint other manufacturers of the products and/or to engage other sales representatives for CarbonMeta’s proprietary cementless paver products known as “Cementless Paver” outside the United States of America. On January 21, 2022, the Company issued 206,896,552 shares of common stock to a consultant for accrued consulting fees in connection with negotiating and arranging for the entry by the Company into a Mutual Release and Settlement Agreement with Y.A. Global Investments, LP (see Note H: Convertible Debt, Net). On January 21, 2022, the Company issued its sole officer and director, Lloyd Spencer, 428,571,428 shares of common stock for past due compensation in the amount of $ 150,000 . On February 14, 2022, the Company issued 83,333,334 shares of common stock as per the terms of the Memorandum of Understanding to an Interim Joint Product Development and Sales Representation Agreement dated January 11, 2022 (see third preceding paragraph). On February 14, 2022, the Company issued its sole officer and director, Lloyd Spencer, 30,000,000 shares of common stock as compensation for serving on the Board of Directors of CarbonMeta Research Ltd. On February 14, 2022, the Company issued a total of 90,000,000 shares ( 30,000,000 shares each) of common stock to three other individuals as compensation for serving on the Board of Directors of CarbonMeta Research Ltd. On February 17, 2022, the Company issued 160,000,000 shares of its common stock to Ecomena Limited (an entity located in the United Kingdom) pursuant to a License of Agr eement (the “Agreement”) dated December 2, 2021 between Ecomena Limited (“Licensor”) and CarbonMeta Technologies, Inc. (“Licensee”). Under the terms of the Agreement, the Licensee will license the Licensed Technology to recycle industrial byproduct into cement free pavers and mortars that are environmentally friendly and continuously absorb carbon dioxide. The signing fees payable to the Licensor under the Agreement are £ 20,000 cash (approximately $ 27,247 at February 17, 2022) which has not yet been paid by the Licensee, and 160,000,000 shares of the Company’s common stock, which was delivered to the Licensor on February 17, 2022. The royalty rate payable to the Licensor is 5% of product sales, subject to a minimum of £ 5000 per year for license years 1 and 2, £ 3000 for license year 3 and £ 1000 for license year 4 and each license year thereafter. The term of the Agreement is five years from December 2, 2021 to December 2, 2026. The Licensee may terminate the Agreement for any reason at any time provided it gives Licensor six (6) months written notice to terminate expiring after December 2, 2024. If requested by the Licensee, the Licensor shall agree to the Agreement continuing in force after December 2, 2026. On March 7, 2022, the Company received $ 66,000 Lloyd T. Spencer (the “Holder”) a Promissory Note (the “ ”) in the principal amount of $ 66,000 . The Note has a term of one ( 1 ) year (Maturity Date of March 7, 2023 ) and bears interest at 12 % annually. . 0.0002 . If at any time the Conversion Price as determined hereunder for any conversion would be less than the par value of the Common Stock, then at the sole discretion of the Holder, the Conversion Price hereunder may equal such par value for such conversion and the Conversion Amount for such conversion may be increased to include Additional Principal, where “Additional Principal” means such additional amount to be added to the Conversion Amount to the extent necessary to cause the number of conversion shares issuable upon such conversion to equal the same number of conversion shares as would have been issued had the Conversion Price not been adjusted by the Holder to the par value price. In conjunction with the financing transaction, the Company issued the Holder a five-year Common Stock Purchase Warrant granting the Holder the right to purchase 165,000,000 shares of common stock at an exercise price of $ 0.0004 per share and 33,000,000 The transaction closed on March 7, 2022. On March 21, 2022, the Company issued to Tangiers Investment Group , LLC (the “Holder”) a Promissory Note (the “ ”) in the principal amount of $ 55,000 . The Note has a term of one ( 1 ) year (Maturity Date of March 21, 2023 ) and bears interest at 12 % annually. . 0.0002 . If at any time the Conversion Price as determined hereunder for any conversion would be less than the par value of the Common Stock, then at the sole discretion of the Holder, the Conversion Price hereunder may equal such par value for such conversion and the Conversion Amount for such conversion may be increased to include Additional Principal, where “Additional Principal” means such additional amount to be added to the Conversion Amount to the extent necessary to cause the number of conversion shares issuable upon such conversion to equal the same number of conversion shares as would have been issued had the Conversion Price not been adjusted by the Holder to the par value price. In conjunction with the financing transaction, the Company issued the Holder a five-year Common Stock Purchase Warrant granting the Holder the right to purchase 125,000,000 shares of common stock at an exercise price of $ 0.0004 per share and 27,500,000 shares of common stock as commitment shares. The transaction closed on March 21, 2022. On April 14, 2022, the Company and MacRab, LLC (the “Investor”) entered into a Standby Equity Commitment Agreement (the “Agreement”) whereby the Company shall issue and sell to the Investor, from time to time, up to $ 5,000,000 of the Company’s common stock. Under the terms of the Agreement, the Purchase Price of the Company’s common stock shall be 88% of the Market Price on the date the Purchase Price is calculated. The Market Price shall mean the average of the two lowest volume weighted average prices of the Company’s common stock during the Valuation Period. In connection with this note, the Holder was issued warrants to purchase 500,000,000 shares of the Company’s Common Stock at $ 0.0004 per share. On May 10, 2022, the Company issued MacRab, LLC (the “Holder”) a Fixed Convertible Promissory Note (the “Note”) in the amount of $ 33,056 . The Note has a term of one ( 1 ) year (Maturity date of May 10, 2023 ) and bears interest at 12% annually. The Note is convertible, in whole or in part, at any time and from time to time before maturity at the option of the Holder at the Fixed Conversion Price of $ 0.0002 per share. Upon the event of default, the Note shall accrue interest at the rate equal to the lower of 16% per annum or the highest rate permitted by law. In connection with this Note, the Holder was issued five-year warrants to purchase 74,375,000 shares of common stock at an exercise price of $ 0.0004 per share and 16,527,775 shares of common stock as commitment shares. The transaction closed on May 10, 2022. On July 14, 2022, the Company issued BHP Capital NY, Inc. (the “Holder”) a Fixed Convertible Promissory Note (the “Note”) in the principal amount of $ 25,000 . The Note has a term of one (1) year (Maturity date of July 14, 2023 ) and bears interest at 12% annually. The Note is convertible, in whole or in part, at any time and from time to time before maturity at the option of the Holder at the Fixed Conversion Price of $ 0.0002 per share . Upon the event of default, the Note shall accrue interest at the rate equal to the lower of 16% per annum or the highest rate permitted by law. In connection with this note, the Holder was issued five-year warrants to purchase 62,500,000 shares of the Company’s common stock at an exercise price of $ 0.0004 per share . In addition, the Holder and the Company entered into a Registration Rights Agreement (“RRA”) whereby the Company agreed to register 212,500,000 shares of its common stock within 30 days of entry into the RRA for the benefit of the Holder. The transaction closed on July 18, 2022. On July 14, 2022, the Company issued Quick Capital, LLC (the “Holder”) a Fixed Convertible Promissory Note (the “Note”) in the principal amount of $ 25,000 . The Note has a term of one ( 1 ) year (Maturity date of July 14, 2023 ) and bears interest at 12% annually. The Note is convertible, in whole or in part, at any time and from time to time before maturity at the option of the Holder at the Fixed Conversion Price of $ 0.0002 per share. Upon the event of default, the Note shall accrue interest at the rate equal to the lower of 16% per annum or the highest rate permitted by law. In connection with this note, the Holder was issued five-year warrants to purchase 62,500,000 shares of the Company’s common stock at an exercise price of $ 0.0004 per share . In addition, the Holder and the Company entered into a Registration Rights Agreement (“RRA”) whereby the Company agreed to register 212,500,000 shares of its common stock within 30 days of entry into the RRA for the benefit of the Holder. The transaction closed on July 18, 2022. On July 15, 2022, the Company issued the Robert Papiri Defined Benefit Plan (the “Holder”) a Fixed Convertible Promissory Note (the “Note”) in the principal amount of $ 10,000 . The Note has a term of one ( 1 ) year (Maturity date of July 15, 2023 ) and bears interest at 12% annually. The Note is convertible, in whole or in part, at any time and from time to time before maturity at the option of the Holder at the Fixed Conversion Price of $ 0.0002 per share. Upon the event of default, the Note shall accrue interest at the rate equal to the lower of 16% per annum or the highest rate permitted by law. In connection with this note, the Holder was issued five-year warrants to purchase 25,000,000 shares of the Company’s common stock at an exercise price of $ 0.0004 per share . In addition, the Holder and the Company entered into a Registration Rights Agreement (“RRA”) whereby the Company agreed to register 85,000,000 shares of its common stock within 30 days of entry into the RRA for the benefit of the Holder. The transaction closed on July 18, 2022. On July 15, 2022, the Company issued the Robert Papiri Defined Contribution Plan (the “Holder”) a Fixed Convertible Promissory Note (the “Note”) in the principal amount of $ 2,500 . The Note has a term of one ( 1 ) year (Maturity date of July 15, 2023 ) and bears interest at 12% annually. The Note is convertible, in whole or in part, at any time and from time to time before maturity at the option of the Holder at the Fixed Conversion Price of $ 0.0002 per share. Upon the event of default, the Note shall accrue interest at the rate equal to the lower of 16% per annum or the highest rate permitted by law. In connection with this note, the Holder was issued five-year warrants to purchase 6,250,000 shares of the Company’s common stock at an exercise price of $ 0.0004 per share. In addition, the Holder and the Company entered into a Registration Rights Agreement (“RRA”) whereby the Company agreed to register 21,250,000 shares of its common stock within 30 days of entry into the RRA for the benefit of the Holder. The transaction closed on July 18, 2022. On July 15, 2022, the Company issued the RGP Capital Partners, Inc. (the “Holder”) a Fixed Convertible Promissory Note (the “Note”) in the principal amount of $ 2,500 . The Note has a term of one ( 1 ) year (Maturity date of July 15, 2023 ) and bears interest at 12% annually. The Note is convertible, in whole or in part, at any time and from time to time before maturity at the option of the Holder at the Fixed Conversion Price of $ 0.0002 per share. Upon the event of default, the Note shall accrue interest at the rate equal to the lower of 16% per annum or the highest rate permitted by law. In connection with this note, the Holder was issued five-year warrants to purchase 6,250,000 shares of the Company’s common stock at an exercise price of $ 0.0004 per share. In addition, the Holder and the Company entered into a Registration Rights Agreement (“RRA”) whereby the Company agreed to register 21,250,000 shares of its common stock within 30 days of entry into the RRA for the benefit of the Holder. The transaction closed on July 18, 2022. |
OBLIGATIONS COLLATERALIZED BY_2
OBLIGATIONS COLLATERALIZED BY RECEIVABLES, NET | 6 Months Ended | 12 Months Ended |
Jun. 30, 2022 | Dec. 31, 2021 | |
Obligations Collateralized By Receivables Net | ||
OBLIGATIONS COLLATERALIZED BY RECEIVABLES, NET | NOTE G – OBLIGATIONS COLLATERALIZED BY RECEIVABLES Obligations collateralized by receivables consist of the following at September 30, 2022 and December 31, 2021: SCHEDULE OF OBLIGATIONS COLLATERALIZED BY RECEIVABLES September 30, December 31, 2022 2021 Quick Fix Capital August 17, 2015 arrangement $ 48,907 $ 48,907 Power Up January 8, 2016 arrangement 14,232 14,232 Power Up April 12, 2016 arrangement 67,645 67,645 Power Up April 28, 2016 arrangement 29,696 29,696 Power Up June 2, 2016 arrangement 45,756 45,756 Total $ 206,236 $ 206,236 The financing arrangements relating to the above liabilities were entered into between CoroWare Technologies, Inc. (“CTI”), a subsidiary of the Company, and lenders in 2015 and 2016. The agreements provided for financing plus debt discounts for CTI to repay to the lenders. The terms of repayment require CTI to remit to the lenders certain percentages of future receivables collections until such time as the balances are paid in full. CARBONMETA TECHNOLOGIES, INC. AND SUBSIDIARIES Notes to the Condensed Consolidated Financial Statements For the three and nine months ended September 30, 2022 and 2021 (Unaudited) | NOTE G – OBLIGATIONS COLLATERALIZED BY RECEIVABLES, NET Obligations collateralized by receivables consist of: SCHEDULE OF OBLIGATIONS COLLATERALIZED BY RECEIVABLES December 31, December 31, 2021 2020 Knight Capital July 16, 2015 arrangement $ - $ 76,317 Quick Fix Capital August 17, 2015 arrangement 48,907 48,907 Power Up January 8, 2016 arrangement 14,232 14,232 Power Up April 12, 2016 arrangement 67,645 67,645 Power Up April 28, 2016 arrangement 29,696 29,696 Power Up June 2, 2016 arrangement 45,756 45,756 Total $ 206,236 $ 282,553 The financing arrangements relating to the above liabilities were entered into between CoroWare Technologies, Inc. (“CTI”), a subsidiary of the Company, and lenders in 2015 and 2016. The agreements provided for financing plus debt discounts for CTI to repay to the lenders. The terms of repayment require CTI to remit to the lenders certain percentages of future receivables collections until such time as the balances are paid in full. CARBONMETA TECHNOLOGIES, INC. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS For the years ended December 31, 2021 and 2020 |
INCOME TAXES
INCOME TAXES | 12 Months Ended |
Dec. 31, 2021 | |
Income Tax Disclosure [Abstract] | |
INCOME TAXES | NOTE P – INCOME TAXES The Company accounts for income taxes in accordance with FASB ASC 740, Income Taxes ASC 740 provides guidance on the accounting for uncertainty in income taxes recognized in a company’s financial statements. ASC 740 requires a company to determine whether it is more likely than not that a tax position will be sustained upon examination based upon the technical merits of the position. If the more likely-than-not threshold is met, a company must measure the tax position to determine the amount to recognize in the consolidated financial statements. Net deferred tax assets consist of the following components as of December 31, 2021 and 2020: The sources of the differences follow: SCHEDULE OF DEFERRED TAX ASSETS 2021 2020 December 31, 2021 2020 Loss carryforwards $ 5,381,301 $ 5,057,697 Valuation (5,381,301 ) (5,057,697 ) Net deferred tax assets $ - $ - The income tax provision differs from the amount of income tax determined by applying the estimated U.S. federal tax rate of 21 percent to pretax income (loss) for the year ended December 31, 2021 and 2020 due to the following: SCHEDULE OF COMPONENTS OF INCOME TAX EXPENSE (BENEFIT) 2021 2020 For the years ended December 31, 2021 2020 Expected income tax (benefit) at 21 % $ 1,736,479 $ (2,463,246 ) Non-deductible (non-taxable) loss (gain) from derivative liability (2,060,082 ) 2,184,395 Change in valuation allowance 323,603 278,851 Provision for income taxes $ - $ - At December 31, 2021, the Company had net operating loss carry forwards of approximately $ 25,000,000 , of which a total of approximately $ 21,000,000 expires in varying amounts from 2027 to 2037. No tax benefit has been reported in the December 31, 2021 consolidated financial statements since the potential tax benefit is offset by a valuation allowance of the same amount. Due to the change in ownership provisions of the Tax Reform Act of 1986, net operating loss carry forwards for Federal income tax reporting purposes are subject to annual limitations. Should a change in ownership occur, net operating loss carry forwards may be limited as to use in future years. In accordance with generally accepted accounting principles, the Company has analyzed its filing positions in all jurisdictions where it is required to file income tax returns for the open tax years in such jurisdictions. The Company has identified its federal and state income tax returns for the previous ten years remain subject to examination. The Company currently believes that all significant filing positions are highly certain and that all of its significant income tax filing positions and deductions would be sustained upon audit. Therefore, the Company has no significant reserves for uncertain tax positions, and no adjustments to such reserves were required by generally accepted accounting principles. No interest or penalties have been levied against the Company and none are anticipated; therefore no interest or penalty has been included in the provision for income taxes in the consolidated statements of operations. |
SIGNIFICANT ACCOUNTING POLICI_2
SIGNIFICANT ACCOUNTING POLICIES (Policies) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2022 | Dec. 31, 2021 | |
Accounting Policies [Abstract] | ||
Interim Financial Statements | Interim Financial Statements The accompanying unaudited financial statements are presented in accordance with generally accepted accounting principles for interim financial information and the instructions to Form 10-Q and Article 8 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments (consisting only of normal recurring accruals) considered necessary in order to make the financial statements not misleading, have been included. Operating results for the nine months ended September 30, 2022 are not necessarily indicative of results that may be expected for the year ending December 31, 2022. | |
Principles of Consolidation | Principles of Consolidation The consolidated financial statements include the accounts of CarbonMeta Technologies, Inc. and its wholly-owned subsidiaries, CoroWare Technologies, Inc., CoroWare Robotics Solutions, Inc., Robotic Workspace Technologies, Inc., Carbon Source, Inc., CoroWare Treasury, Inc., and CarbonMeta Research Ltd., as well as its 51% | Principles of Consolidation The consolidated financial statements include the accounts of CarbonMeta Technologies, Inc. and its wholly-owned subsidiaries, CoroWare Technologies, Inc., CoroWare Robotics Solutions, Inc., Robotic Workspace Technologies, Inc., Carbon Source, Inc., CoroWare Treasury, Inc., and CarbonMeta Research Ltd., as well as its 51% interest in ARiCon, LLC (collectively, the “Company”). All significant inter-company balances and transactions have been eliminated in the consolidated financial statements. |
Use of Estimates | Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The Company uses all available information and appropriate techniques to develop its estimates. However, actual results could differ from its estimates. | Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The Company uses all available information and appropriate techniques to develop its estimates. However, actual results could differ from its estimates. |
Foreign Currency Translation | Foreign Currency Translation The accompanying consolidated financial statements are presented in United States dollars (“$”), which is the reporting currency of the Company. The functional currency of CarbonMeta Research Ltd. (“CMR”) is the Great Britain pound (“GBP”); the functional currency of the Company and its other subsidiaries is the United States dollar. The assets and liabilities of CMR are translated at the GBR currency exchange rate at the end of the period ($ 1.113030 at September 30, 2022), the revenues and expenses of CMR are translated at the GBP average exchange rates during the period ($ 1.164519 for the nine months ended September 30, 2022), and stockholders’ equity (deficit) of CMR is translated at the historical exchange rates. The resulting translation adjustments are included in determining other comprehensive income (loss). Transaction gains and losses, which were not significant for the periods presented, are reflected in the consolidated statements of operations. | |
Cash and Cash Equivalents | Cash and Cash Equivalents The Company considers highly liquid investments with original maturities of three months or less when purchased as cash equivalents. The Company had no cash equivalents as of September 30, 2022 and December 31, 2021. At times throughout the year, the Company might maintain bank balances that may exceed Federal Deposit Insurance Corporation (“FDIC”) insured limits. Periodically, the Company evaluates the credit worthiness of the financial institutions and has not experienced any losses in such accounts. As of September 30, 2022 and December 31, 2021, the Company did not have bank balances that exceeded the FDIC insured limits. | Cash and Cash Equivalents The Company considers highly liquid investments with original maturities of three months or less when purchased as cash equivalents. The Company had no cash equivalents as of December 31, 2021 and 2020. At times throughout the year, the Company might maintain bank balances that may exceed Federal Deposit Insurance Corporation (“FDIC”) insured limits. Periodically, the Company evaluates the credit worthiness of the financial institutions and has not experienced any losses in such accounts. As of December 31, 2021 and 2020, the Company did not have bank balances that exceeded the FDIC insured limits. CARBONMETA TECHNOLOGIES, INC. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS For the years ended December 31, 2021 and 2020 NOTE B – SIGNIFICANT ACCOUNTING POLICIES (continued) |
Property and Equipment | Property and Equipment Property and equipment are recorded at cost. Expenditures for major renewals and improvements are capitalized while expenditures for minor replacements, maintenance and repairs are expensed as incurred. Depreciation is calculated using the straight-line method over the estimated useful lives of the assets. Upon retirement or disposal of assets, the accounts are relieved of cost and accumulated depreciation and the related gain or loss, if any, is reflected in loss on disposal of assets in the unaudited condensed consolidated statement of income and comprehensive income. At least annually, the Company evaluates, and adjusts when necessary, the estimated useful lives. There were no changes in estimated useful lives for the periods presented. The estimated useful lives are: SUMMARY OF ESTIMATED USEFUL LIVES Computer equipment and software 5 Filament production equipment 3 CARBONMETA TECHNOLOGIES, INC. AND SUBSIDIARIES Notes to the Condensed Consolidated Financial Statements For the three and nine months ended September 30, 2022 and 2021 (Unaudited) NOTE B – SIGNIFICANT ACCOUNTING POLICIES (continued) | Property and Equipment Property and equipment are stated at cost less accumulated depreciation. Expenditures for major renewals and improvements are capitalized while expenditures for minor replacements, maintenance and repairs are expensed as incurred. Depreciation is calculated using the straight-line method over the estimated useful lives of the assets. Upon retirement or disposal of assets, the accounts are relieved of cost and accumulated depreciation and the related gain or loss, if any, is reflected in the consolidated statement of operations. At least annually, the Company evaluates, and adjusts when necessary, the estimated useful lives. The changes in estimated useful lives did not have a material impact on depreciation in any period. The estimated useful lives are: SUMMARY OF ESTIMATED USEFUL LIVES Computer equipment and software 5 years Filament production equipment 3 years |
License | Licenses The licenses acquired from Oxford University Innovation Limited and Ecomena Limited ( see Note A | License The license acquired from Oxford University Innovation Limited ( see Note A |
Impairment of Long-lived Assets | Impairment of Long-lived Assets The Company evaluates the carrying value and recoverability of its long-lived assets when circumstances warrant such evaluation by applying the provisions of Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 360-35, Property, Plant and Equipment, Subsequent Measurement | Impairment of Long-lived Assets The Company evaluates the carrying value and recoverability of its long-lived assets when circumstances warrant such evaluation by applying the provisions of Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 360-35, Property, Plant and Equipment, Subsequent Measurement |
Income Taxes | Income Taxes Income taxes are computed using the asset and liability method. Under the asset and liability method, deferred income tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities and are measured using the currently enacted tax rates and laws. A valuation allowance is provided for the amount of deferred tax assets that, based on available evidence, are not expected to be realized. Additionally, taxes are calculated and expensed in accordance with applicable tax code. | Income Taxes Income taxes are computed using the asset and liability method. Under the asset and liability method, deferred income tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities and are measured using the currently enacted tax rates and laws. A valuation allowance is provided for the amount of deferred tax assets that, based on available evidence, are not expected to be realized. Additionally, taxes are calculated and expensed in accordance with applicable tax code. CARBONMETA TECHNOLOGIES, INC. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS For the years ended December 31, 2021 and 2020 NOTE B – SIGNIFICANT ACCOUNTING POLICIES (continued) |
Segment Reporting | Segment Reporting FASB ASC 280-10, Segment Reporting | Segment Reporting FASB ASC 280-10, Segment Reporting one main segment. |
Fair Value of Financial Instruments | Fair Value of Financial Instruments The Company follows FASB ASC 820-10-35-37 (“Paragraph 820-10-35-37”) to measure the fair value of its financial instruments and paragraph 825-10-50-10 of the FASB ASC for disclosures about fair value of its financial instruments. Paragraph 820-10-35-37 establishes a framework for measuring fair value in GAAP and expands disclosures about fair value measurements. To increase consistency and comparability in fair value measurements and related disclosures, Paragraph 820-10-35-37 establishes a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The three levels of fair value hierarchy defined by Paragraph 820-10-35-37 are described below: Level 1 Quoted market prices available in active markets for identical assets or liabilities as of the reporting date. Level 2 Pricing inputs other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reporting date. Level 3 Pricing inputs that are generally unobservable inputs and not corroborated by market data. Financial assets are considered Level 3 when their fair values are determined using pricing models, discounted cash flow methodologies or similar techniques and at least one significant model assumption or input is unobservable. The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. If the inputs used to measure the financial assets and liabilities fall within more than one level described above, the categorization is based on the lowest level input that is significant to the fair value measurement of the instrument. The carrying amounts reported in the Company’s unaudited condensed consolidated financial statements for accounts receivable and accounts payable and accrued expenses approximate their fair value because of the immediate or short-term nature of these financial instruments. The carrying amounts reported in the balance sheet for its notes and loans payable approximates fair value as the contractual interest rate and features are consistent with similar instruments of similar risk in the marketplace. Transactions involving related parties cannot be presumed to be carried out on an arm’s-length basis, as the requisite conditions of competitive, free-market dealings may not exist. Representations about transactions with related parties, if made, shall not imply that the related party transactions were consummated on terms equivalent to those that prevail in arm’s-length transactions unless such representations can be substantiated. CARBONMETA TECHNOLOGIES, INC. AND SUBSIDIARIES Notes to the Condensed Consolidated Financial Statements For the three and nine months ended September 30, 2022 and 2021 (Unaudited) NOTE B – SIGNIFICANT ACCOUNTING POLICIES (continued) It is not, however, practical to determine the fair value of advances from stockholders, if any, due to their related party nature. The following table presents assets and liabilities that are measured and recognized at fair value as of September 30, 2022 and December 31, 2021, on a recurring basis: SUMMARY OF ASSETS AND LIABILITIES THAT ARE MEASURED AND RECOGNIZED AT FAIR VALUE Assets and liabilities measured at fair value on a recurring basis at September 30, 2022 Level 1 Level 2 Level 3 Total Carrying Value Derivative liabilities $ - $ (10,918,883 ) $ - $ (10,918,883 ) Assets and liabilities measured at fair value on a recurring basis at December 31, 2021 Level 1 Level 2 Level 3 Total Derivative liabilities $ - $ (11,904,070 ) $ - $ (11,904,070 ) | Fair Value of Financial Instruments The Company follows FASB ASC 820-10-35-37 (“Paragraph 820-10-35-37”) to measure the fair value of its financial instruments and paragraph 825-10-50-10 of the FASB ASC for disclosures about fair value of its financial instruments. Paragraph 820-10-35-37 establishes a framework for measuring fair value in GAAP and expands disclosures about fair value measurements. To increase consistency and comparability in fair value measurements and related disclosures, Paragraph 820-10-35-37 establishes a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The three levels of fair value hierarchy defined by Paragraph 820-10-35-37 are described below: Level 1 Quoted market prices available in active markets for identical assets or liabilities as of the reporting date. Level 2 Pricing inputs other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reporting date. Level 3 Pricing inputs that are generally unobservable inputs and not corroborated by market data. Financial assets are considered Level 3 when their fair values are determined using pricing models, discounted cash flow methodologies or similar techniques and at least one significant model assumption or input is unobservable. The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. If the inputs used to measure the financial assets and liabilities fall within more than one level described above, the categorization is based on the lowest level input that is significant to the fair value measurement of the instrument. The carrying amounts reported in the Company’s consolidated financial statements for cash and accounts payable and accrued expenses approximate their fair value because of the immediate or short-term nature of these financial instruments. The carrying amounts reported in the balance sheet for its notes and loans payable approximates fair value as the contractual interest rate and features are consistent with similar instruments of similar risk in the marketplace. Transactions involving related parties cannot be presumed to be carried out on an arm’s-length basis, as the requisite conditions of competitive, free-market dealings may not exist. Representations about transactions with related parties, if made, shall not imply that the related party transactions were consummated on terms equivalent to those that prevail in arm’s-length transactions unless such representations can be substantiated. It is not, however, practical to determine the fair value of advances from stockholders, if any, due to their related party nature. CARBONMETA TECHNOLOGIES, INC. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS For the years ended December 31, 2021 and 2020 NOTE B – SIGNIFICANT ACCOUNTING POLICIES (continued) The following table presents assets and liabilities that are measured and recognized at fair value as of December 31, 2021 and 2020, on a recurring basis: SUMMARY OF ASSETS AND LIABILITIES THAT ARE MEASURED AND RECOGNIZED AT FAIR VALUE Assets and liabilities measured at fair value on a recurring basis at December 31, 2021 Level 1 Level 2 Level 3 Total Carrying Value Derivative liabilities $ - $ (11,904,070 ) $ - $ (11,904,070 ) Assets and liabilities measured at fair value on a recurring basis at December 31, 2020 Level 1 Level 2 Level 3 Total Carrying Value Derivative liabilities $ - $ (21,713,986 ) $ - $ (21,713,986 ) |
Convertible Instruments | Convertible Instruments The Company evaluates and accounts for conversion options embedded in its convertible instruments in accordance with professional standards for FASB ASC 815, Derivatives and Hedging Professional standards generally provide three criteria that, if met, require companies to bifurcate conversion options from their host instruments and account for them as free-standing derivative financial instruments. These three criteria include circumstances in which (a) the economic characteristics and risks of the embedded derivative instrument are not clearly and closely related to the economic characteristics and risks of the host contract, (b) the hybrid instrument that embodies both the embedded derivative instrument and the host contract is not re-measured at fair value under otherwise applicable generally accepted accounting principles with changes in fair value reported in earnings as they occur and (c) a separate instrument with the same terms as the embedded derivative instrument would be considered a derivative instrument. Professional standards also provide an exception to this rule when the host instrument is deemed to be conventional as defined under professional standards as “The Meaning of Conventional Convertible Debt Instrument.” The Company accounts for convertible instruments (when it has determined that the embedded conversion options should not be bifurcated from their host instruments) in accordance with professional standards under “Accounting for Convertible Securities with Beneficial Conversion Features,” as those professional standards pertain to “Certain Convertible Instruments.” Accordingly, the Company records, when necessary, discounts to convertible notes for the intrinsic value of conversion options embedded in debt instruments 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 to their earliest date of redemption. The Company also records when necessary deemed dividends for the intrinsic value of conversion options embedded in preferred shares based upon the differences between the fair value of the underlying common stock at the commitment date of the preferred stock transaction and the effective conversion price embedded in the preferred stock. ASC 815 provides that, among other things, generally, if an event is not within the entity’s control, could or require net cash settlement, then the contract shall be classified as an asset or a liability. | Convertible Instruments The Company evaluates and accounts for conversion options embedded in its convertible instruments in accordance with professional standards for FASB ASC 815, Derivatives and Hedging Professional standards generally provide three criteria that, if met, require companies to bifurcate conversion options from their host instruments and account for them as free-standing derivative financial instruments. These three criteria include circumstances in which (a) the economic characteristics and risks of the embedded derivative instrument are not clearly and closely related to the economic characteristics and risks of the host contract, (b) the hybrid instrument that embodies both the embedded derivative instrument and the host contract is not re-measured at fair value under otherwise applicable generally accepted accounting principles with changes in fair value reported in earnings as they occur and (c) a separate instrument with the same terms as the embedded derivative instrument would be considered a derivative instrument. Professional standards also provide an exception to this rule when the host instrument is deemed to be conventional as defined under professional standards as “The Meaning of Conventional Convertible Debt Instrument.” The Company accounts for convertible instruments (when it has determined that the embedded conversion options should not be bifurcated from their host instruments) in accordance with professional standards under “Accounting for Convertible Securities with Beneficial Conversion Features,” as those professional standards pertain to “Certain Convertible Instruments.” Accordingly, the Company records, when necessary, discounts to convertible notes for the intrinsic value of conversion options embedded in debt instruments 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 to their earliest date of redemption. The Company also records when necessary deemed dividends for the intrinsic value of conversion options embedded in preferred shares based upon the differences between the fair value of the underlying common stock at the commitment date of the preferred stock transaction and the effective conversion price embedded in the preferred stock. ASC 815 provides that, among other things, generally, if an event is not within the entity’s control could or require net cash settlement, then the contract shall be classified as an asset or a liability. |
Stock Based Compensation | Stock Based Compensation The Company follows FASB ASC 718, Compensation – Stock Compensation The Company accounts for stock-based compensation issued to non-employees and consultants in accordance with the provisions of FASB ASC 505-50, Equity–based Payments to Non-Employees Through newly issued restricted common stock, the Company pays qualified contractors and advisors common shares in lieu of compensation for services provided including business development, management, technology development, consulting, legal services and accounting services. CARBONMETA TECHNOLOGIES, INC. AND SUBSIDIARIES Notes to the Condensed Consolidated Financial Statements For the three and nine months ended September 30, 2022 and 2021 (Unaudited) NOTE B – SIGNIFICANT ACCOUNTING POLICIES (continued) | Stock Based Compensation The Company follows FASB ASC 718, Compensation – Stock Compensation The Company accounts for stock-based compensation issued to non-employees and consultants in accordance with the provisions of FASB ASC 505-50, Equity–based Payments to Non-Employees CARBONMETA TECHNOLOGIES, INC. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS For the years ended December 31, 2021 and 2020 NOTE B – SIGNIFICANT ACCOUNTING POLICIES (continued) Through newly issued restricted common stock, the Company pays qualified contractors and advisors common shares in lieu of compensation for services provided including business development, management, technology development, consulting, legal services and accounting services. |
Revenue Recognition | Revenue Recognition The Company will recognize revenue for its sales of energy products pursuant to the License Agreements with Oxford University Innovation Limited and Ecomena Limited (see Note A) when persuasive evidence of an arrangement exists, delivery has occurred, the sales price is fixed or determinable and collectability is probable. Product sales will be recognized by us generally at the time product is shipped. Shipping and handling costs will be included in cost of goods sold. | Revenue Recognition The Company will recognize revenue for its sales of energy products pursuant to the License Agreement with Oxford University Innovation Limited (see Note A) when persuasive evidence of an arrangement exists, delivery has occurred, the sales price is fixed or determinable and collectability is probable. Product sales will be recognized by us generally at the time product is shipped. Shipping and handling costs will be included in cost of goods sold. |
Research and Development | Research and Development Research and development costs relate to the development of new products, including significant improvements and refinements to existing products, and are expensed as incurred. Research and development expenses for the nine months ended September 30, 2022 and 2021 were $14,820 and $ 0 , respectively. | Research and Development Research and development costs relating to the development of new products, including significant improvements and refinements to existing products, will be expensed as incurred. Research and development expenses for the years ended December 31, 2021 and 2020 were $ 0 and $ 0 , respectively. CARBONMETA TECHNOLOGIES, INC. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS For the years ended December 31, 2021 and 2020 NOTE B – SIGNIFICANT ACCOUNTING POLICIES (continued) |
Basic and Diluted Income (Loss) per Common Share | Basic and Diluted Loss per Common Share The Company computes basic and diluted earnings per common share amounts in accordance with FASB ASC 260, Earnings per Share For the three and nine months ended September 30, 2022 and 2021, the effect of common stock equivalents has been excluded from the calculation of diluted earnings per common share as their effect would be anti-dilutive. The Company currently has convertible debt and preferred stock, which, if converted, as of September 30, 2022 and December 31, 2021, would have caused the Company to issue diluted shares totaling 24,713,991,521 and 32,963,937,306 , respectively. | Basic and Diluted Income (Loss) per Common Share The Company computes basic and diluted earnings per common share amounts in accordance with FASB ASC 260, Earnings per Share For the years ended December 31, 2021 and 2020, the effect of common stock equivalents has been excluded from the calculation of diluted earnings per share as their effect would be anti-dilutive. The Company currently has convertible debt and preferred stock, which, if converted, as of December 31, 2021 and 2020, would have caused the Company to issue diluted shares totaling 32,963,937,306 and 106,376,994,454 shares, respectively. |
Dividend Policy | Dividend Policy The Company has never declared or paid any cash dividends on its common stock. The Company anticipates that any earnings will be retained for development and expansion of its business and does not anticipate paying any cash dividends in the foreseeable future. Additionally, as of September 30, 2022 and December 31, 2021, the Company has issued, and has outstanding, shares of Series B Preferred Stock which are entitled, prior to the declaration of any dividends on common stock, to earn a 5% dividend, payable in either cash or common stock of the Company. The Board of Directors has sole discretion to declare dividends based on the Company’s financial condition, results of operations, capital requirements, contractual obligations and other relevant factors. At September 30, 2022 and December 31, 2021, there were cumulative undeclared dividends to Preferred Series B shareholders of $ 125,737 and $ 119,750 , respectively, the obligation for which is contingent on declaration by the board of directors. At September 30, 2022 and December 31, 2021, there were accrued unpaid declared dividends of $ 15,969 and $ 15,969 , respectively (which are included in accounts payable and accrued expenses). | Dividend Policy The Company has never declared or paid any cash dividends on its common stock. The Company anticipates that any earnings will be retained for development and expansion of its business and does not anticipate paying any cash dividends in the foreseeable future. Additionally, as of December 31, 2021 and 2020, the Company has issued, and has outstanding, shares of Series B Preferred Stock which are entitled, prior to the declaration of any dividends on common stock, to earn a 5 % dividend, payable in either cash or common stock of the Company. The Board of Directors has sole discretion to declare dividends based on the Company’s financial condition, results of operations, capital requirements, contractual obligations and other relevant factors. At December 31, 2021 and 2020, there were cumulative undeclared dividends to Preferred Series B shareholders of $ 119,750 and $ 111,767 , respectively, the obligation for which is contingent on declaration by the board of directors. At December 31, 2021 and 2020, there were accrued unpaid declared dividends of $ 15,969 and $ 15,969 , respectively (which are included in accounts payable and accrued expenses). |
Recent Accounting Pronouncements | Recent Accounting Pronouncements Certain accounting pronouncements have been issued by the FASB and other standard setting organizations which are not yet effective and therefore have not yet been adopted by the Company. The impact on the Company’s financial position and results of operations from adoption of these standards is not expected to be material. CARBONMETA TECHNOLOGIES, INC. AND SUBSIDIARIES Notes to the Condensed Consolidated Financial Statements For the three and nine months ended September 30, 2022 and 2021 (Unaudited) | Recent Accounting Pronouncements Certain accounting pronouncements have been issued by the FASB and other standard setting organizations which are not yet effective and therefore have not yet been adopted by the Company. The impact on the Company’s financial position and results of operations from adoption of these standards is not expected to be material. |
SIGNIFICANT ACCOUNTING POLICI_3
SIGNIFICANT ACCOUNTING POLICIES (Tables) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2022 | Dec. 31, 2021 | |
Accounting Policies [Abstract] | ||
SUMMARY OF ESTIMATED USEFUL LIVES | At least annually, the Company evaluates, and adjusts when necessary, the estimated useful lives. There were no changes in estimated useful lives for the periods presented. The estimated useful lives are: SUMMARY OF ESTIMATED USEFUL LIVES Computer equipment and software 5 Filament production equipment 3 | At least annually, the Company evaluates, and adjusts when necessary, the estimated useful lives. The changes in estimated useful lives did not have a material impact on depreciation in any period. The estimated useful lives are: SUMMARY OF ESTIMATED USEFUL LIVES Computer equipment and software 5 years Filament production equipment 3 years |
SUMMARY OF ASSETS AND LIABILITIES THAT ARE MEASURED AND RECOGNIZED AT FAIR VALUE | The following table presents assets and liabilities that are measured and recognized at fair value as of September 30, 2022 and December 31, 2021, on a recurring basis: SUMMARY OF ASSETS AND LIABILITIES THAT ARE MEASURED AND RECOGNIZED AT FAIR VALUE Assets and liabilities measured at fair value on a recurring basis at September 30, 2022 Level 1 Level 2 Level 3 Total Carrying Value Derivative liabilities $ - $ (10,918,883 ) $ - $ (10,918,883 ) Assets and liabilities measured at fair value on a recurring basis at December 31, 2021 Level 1 Level 2 Level 3 Total Derivative liabilities $ - $ (11,904,070 ) $ - $ (11,904,070 ) | The following table presents assets and liabilities that are measured and recognized at fair value as of December 31, 2021 and 2020, on a recurring basis: SUMMARY OF ASSETS AND LIABILITIES THAT ARE MEASURED AND RECOGNIZED AT FAIR VALUE Assets and liabilities measured at fair value on a recurring basis at December 31, 2021 Level 1 Level 2 Level 3 Total Carrying Value Derivative liabilities $ - $ (11,904,070 ) $ - $ (11,904,070 ) Assets and liabilities measured at fair value on a recurring basis at December 31, 2020 Level 1 Level 2 Level 3 Total Carrying Value Derivative liabilities $ - $ (21,713,986 ) $ - $ (21,713,986 ) |
PROPERTY AND EQUIPMENT, NET (Ta
PROPERTY AND EQUIPMENT, NET (Tables) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2022 | Dec. 31, 2021 | |
Property, Plant and Equipment [Abstract] | ||
SCHEDULE OF PROPERTY AND EQUIPMENT | Property and equipment consists of the following at September 30, 2022 and December 31, 2021: SCHEDULE OF PROPERTY AND EQUIPMENT September 30, December 31, 2022 2021 Computer equipment and software $ 1,325 $ 1,325 Filament production equipment 45,799 45,799 Filament production equipment 45,799 45,799 Subtotal 47,124 47,124 Less: accumulated depreciation (14,320 ) (2,704 ) Property and equipment, net $ 32,804 $ 44,420 | Property and equipment, net, consists of the following at December 31, 2021 and December 31, 2020: SCHEDULE OF PROPERTY AND EQUIPMENT December 31, December 31, 2021 2020 Computer equipment and software $ 1,325 $ - Filament production equipment 45,799 - Subtotal 47,124 - Less: accumulated depreciation (2,704 ) - Property and equipment, net $ 44,420 $ - |
LICENSES, NET (Tables)
LICENSES, NET (Tables) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2022 | Dec. 31, 2021 | |
Goodwill and Intangible Assets Disclosure [Abstract] | ||
SCHEDULE OF LICENSE, NET | The licenses, net, consists of the following at September 30, 2022 and December 31, 2021: SCHEDULE OF LICENSE, NET September December 31, 2022 2021 License acquired from Oxford University Innovation Limited on June 2, 2021 ( see Note A $ 79,256 $ 79,256 License acquired from Ecomena Limited effective February 17, 2022 (see Note A) 91,247 - Subtotal 170,503 79,256 Accumulated amortization (25,631 ) (4,603 ) Licenses, net $ 144,872 $ 74,653 | The license, net, consists of the following at December 31, 2021 and 2020: SCHEDULE OF LICENSE, NET 2021 2020 December 31, December 31, 2021 2020 License acquired from Oxford University Innovation Limited on June 2, 2021 (see Note A) $ 79,256 $ - Accumulated amortization (4,603 ) - License, net $ 74,653 $ - |
SCHEDULE OF FUTURE AMORTIZATION OF LICENSE EXPENSE | At September 30, 2022, the expected future amortization of licenses expense was: SCHEDULE OF FUTURE AMORTIZATION OF LICENSE EXPENSE Fiscal year ending December 31: 2022 (excluding the nine months ended September 30, 2022) $ 6,547 2023 26,175 2024 26,176 2025 26,175 2026 26,176 Thereafter 33,623 Total $ 144,872 | At December 31, 2021, the expected future amortization of license expense was: SCHEDULE OF FUTURE AMORTIZATION OF LICENSE EXPENSE Fiscal year ending December 31: 2022 $ 7,926 2023 7,925 2024 7,926 2025 7,925 2026 7,926 Thereafter 35,025 Total $ 74,653 |
ACCOUNTS PAYABLE AND ACCRUED _2
ACCOUNTS PAYABLE AND ACCRUED EXPENSES (Tables) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2022 | Dec. 31, 2021 | |
Payables and Accruals [Abstract] | ||
SCHEDULE OF ACCOUNTS PAYABLE AND ACCRUED EXPENSES | SCHEDULE OF ACCOUNTS PAYABLE AND ACCRUED EXPENSES September 30, December 31, 2022 2021 Accounts payable $ 1,400,791 $ 1,344,631 Accrued interest 6,107,347 5,422,526 Accrued CEO compensation 837,000 874,500 Accrued CarbonMeta Research, Ltd Board of Directors fees 53,195 - Accrued payroll 110,335 111,368 Deferred compensation to Chief Technology Officer of Company subsidiary, CoroWare Technologies, Inc. 230,993 230,993 Payroll taxes payable 1,998,735 1,998,735 Commissions payable 221,188 221,188 Accrued consulting fees relating to the Mutual Release and Settlement Agreement dated July 19, 2021 with Y.A. Global Investments, LP (Note H) 50,000 350,000 Accrued dividends on Series B Preferred Stock 15,969 15,969 License fee payable to Ecomena Limited 27,247 - Accrued expenses 119,243 360,040 Garnishment liens payable 35,502 35,502 Pension plan payable 23,981 23,981 Deferred Salaries 232,818 232,818 Credit cards payable - - Other 47,316 71,954 Total $ 11,100,116 $ 10,641,864 | Accounts payable and accrued expenses consists of the following at December 31, 2021 and 2020: SCHEDULE OF ACCOUNTS PAYABLE AND ACCRUED EXPENSES December 31, December 31, 2021 2020 Accounts payable $ 1,344,631 $ 1,327,167 Accrued interest 5,422,526 7,012,529 Accrued CEO compensation 874,500 750,000 Accrued payroll 111,368 111,368 Deferred compensation to Chief Technology Officer of Company subsidiary, CoroWare Technologies, Inc. 230,993 230,993 Payroll taxes payable 1,998,735 2,104,551 Commissions payable 221,188 221,188 Accrued consulting fees relating to the Mutual Release and Settlement Agreement dated July 19, 2021 with Y.A. Global Investments, LP (Note H) 350,000 - Accrued dividends on Series B Preferred Stock 15,969 15,969 Credit cards payable - 81,048 Other 71,954 89,561 Total $ 10,641,864 $ 11,944,374 |
SCHEDULE OF INFORMATION ABOUT LIABILITIES | SCHEDULE OF INFORMATION ABOUT LIABILITIES September 30, 2022 CarbonMeta Technologies, Inc. $ 197,657 CoroWare Technologies, Inc. 1,156,327 CoroWare Robotics Solutions, Inc. 34,353 Carbon Source, Inc. 3,197 AriCon, LLC 9,257 Total $ 1,400,791 | SCHEDULE OF INFORMATION ABOUT LIABILITIES December 31, 2021 CarbonMeta Technologies, Inc. $ 139,409 CoroWare Technologies, Inc. 1,156,327 CoroWare Robotics Solutions, Inc. 34,353 CoroWare Treasury, Inc. 5,285 AriCon, LLC 9,257 Total $ 1,344,631 |
OBLIGATIONS COLLATERALIZED BY_3
OBLIGATIONS COLLATERALIZED BY RECEIVABLES (Tables) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2022 | Dec. 31, 2021 | |
Obligations Collateralized By Receivables | ||
SCHEDULE OF OBLIGATIONS COLLATERALIZED BY RECEIVABLES | Obligations collateralized by receivables consist of the following at September 30, 2022 and December 31, 2021: SCHEDULE OF OBLIGATIONS COLLATERALIZED BY RECEIVABLES September 30, December 31, 2022 2021 Quick Fix Capital August 17, 2015 arrangement $ 48,907 $ 48,907 Power Up January 8, 2016 arrangement 14,232 14,232 Power Up April 12, 2016 arrangement 67,645 67,645 Power Up April 28, 2016 arrangement 29,696 29,696 Power Up June 2, 2016 arrangement 45,756 45,756 Total $ 206,236 $ 206,236 | Obligations collateralized by receivables consist of: SCHEDULE OF OBLIGATIONS COLLATERALIZED BY RECEIVABLES December 31, December 31, 2021 2020 Knight Capital July 16, 2015 arrangement $ - $ 76,317 Quick Fix Capital August 17, 2015 arrangement 48,907 48,907 Power Up January 8, 2016 arrangement 14,232 14,232 Power Up April 12, 2016 arrangement 67,645 67,645 Power Up April 28, 2016 arrangement 29,696 29,696 Power Up June 2, 2016 arrangement 45,756 45,756 Total $ 206,236 $ 282,553 |
CONVERTIBLE DEBT, NET (Tables)
CONVERTIBLE DEBT, NET (Tables) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2022 | Dec. 31, 2021 | |
Convertible Debt Net | ||
SCHEDULE OF CONVERTIBLE DEBT, NET | Convertible debt, net, consists of the following at September 30, 2022 and December 31, 2021: SCHEDULE OF CONVERTIBLE DEBT, NET Principal Balance at Accrued Interest Lender Interest Rate Default Rate Conversion Price September 30, 2022 December 31, September 30, December 31, Westmount Holdings International, Ltd – loan date January 12, 2010 due on demand 14.00 % 14.00 % (1 ) $ 537,317 $ 537,317 $ 949,308 $ 893,044 Tangiers Investment Group, LLC – loan date March 9, 2013 and due date of March 9, 2014, in technical default 10.00 % 20.00 % (2 ) - - 891 891 Tangiers Investment Group, LLC – loan date March 27, 2014 and due date of March 27, 2015, in technical default 10.00 % 20.00 % (2 ) 75,000 75,000 118,438 107,219 Tangiers Investment Group, LLC – due on demand 0.00 % 15.00 % $ 0.0006 47,000 47,000 62,892 62,892 Tangiers Investment Group, LLC – loan date October 11, 2016 and due date of October 20, 2017, in technical default 0.00 % 20.00 % $ 0.0006 10,000 10,000 6,663 6,663 Tangiers Investment Group, LLC – loan date January 30, 2017 and due date of January 30, 2018, in technical default 10.00 % 20.00 % 0.0006 30,910 30,910 18,445 18,445 Tangiers Investment Group, LLC – loan date July 19, 2021 and due date of July 19, 2022 10.00 % 20.00 % $ 0.001 105,000 105,000 12,628 4,775 Tangiers Investment Group, LLC – loan date September 8, 2021 and due date of September 8, 2022 10.00 % 20.00 % $ 0.001 105,000 105,000 11,033 3,279 Tangiers Investment Group, LLC – loan date March 21, 2022 and due date of March 21, 2023 12.00 % 16.00 % $ 0.0002 55,000 - 3,490 - Lloyd T. Spencer (the Company’s sole officer and director) – loan date March 7, 2022 and due date of March 7, 2023 12.00 % 16.00 % $ 0.0002 66,000 - 4,492 - Dakota Capital Pty, Ltd – loan date April 8, 2014 and due date of December 31, 2014, in technical default 14.00 % 14.00 % (3 ) 200,000 200,000 237,425 216,482 Zoom Marketing – loan date August 23, 2013 and due date of January 23, 2014, in technical default 5.00 % 10.00 % (8 ) 65,000 65,000 60,680 55,819 Burrington Capital, LLC – loan date April 2, 2014 and due date of October 1, 2014, in technical default 10.00 % 15.00 % (12 ) 25,000 25,000 61,581 52,447 Patrick Ferro – loan date April 3, 2014 and due date of December 31, 2014, in technical default 14.00 % 14.00 % (13 ) 26,825 26,825 37,757 34,948 Barry Liben – loan date April 3, 2014 and due date of December 31, 2014, in technical default 0.00 % 0.00 % (13 ) 52,800 52,800 - - Jared Robert – loan date December 10, 2014 and due date of June 10, 2015, in technical default 10.00 % 15.00 % (12 ) 20,000 20,000 42,475 35,883 Raphael Cariou – loan date August 3, 2012 and due date of February 3, 2013, in technical default 10.00 % 15.00 % (4 ) 7,000 7,000 24,038 20,763 Raphael Cariou – loan date March 12, 2015 and due date of September 12, 2015, in technical default 24.00 % 29.00 % (4 ) 82,178 82,178 630,692 493,167 Raphael Cariou - loan date March 12, 2015 and due date of September 12, 2015, in technical default 24.00 % 29.00 % (4 ) 94,178 94,178 706,756 552,242 Redwood Management, LLC – loan date of March 21, 2011 and due date of March 18, 2013, in technical default 14.00 % 14.00 % (1 ) 123,936 123,936 166,307 153,329 AGS Capital Group, LLC – loan date of February 25, 2013 and due date of February 25, 2014, in technical default 14.00 % 14.00 % (9 ) 8,640 8,640 113,568 101,485 AGS Capital Group, LLC – loan date of February 25, 2013 and due date of February 25, 2014, in technical default 14.00 % 14.00 % (9 ) 42,000 42,000 117,733 101,941 Tim Burgess – loan date of July 8, 2003 and due date of January 8, 2004, in technical default 8.00 % 15.00 % $ 1.00 50,000 50,000 140,633 136,914 Azriel Nagar – loan date of July 8, 2003 and due date of January 8, 2004, in technical default 8.00 % 15.00 % $ 1.00 50,000 50,000 140,633 136,914 Kelburgh, Ltd – loan date of February 12, 2012 and due date of March 22, 2012, in technical default 10.00 % 15.00 % (8 ) 13,000 13,000 49,953 43,311 Premier IT Solutions – loan date of October 5, 2011 and due date of March 5, 2012, in technical default 10.00 % 15.00 % (7 ) 21,962 21,962 88,754 77,073 LG Capital Funding, LLC – loan date of March 11, 2014 and due date of March 11, 2015, in technical default 12.00 % 24.00 % (11 ) 32,000 32,000 61,862 56,137 LG Capital Funding, LLC – loan date of January 7, 2015 and due date of January 7, 2016, in technical default 12.00 % 24.00 % (11 ) 20,625 20,625 35,796 32,094 LG Capital Funding, LLC – loan date of March 11, 2014 and due date of March 11, 2015, in technical default 12.00 % 24.00 % (11 ) 24,000 24,000 46,411 42,103 Barclay Lyons – loan date of January 28, 2011 and due date of July 28, 2011 in technical default 21.00 % 36.00 % (6 ) 10,750 10,750 44,378 41,484 Blackridge Capital, LLC – loan date of April 2, 2011 and due date of July 28, 2011 in technical default 10.00 % 15.00 % (7 ) 6,985 6,985 120,356 106,920 Blackridge Capital, LLC – loan date of February 21, 2014 and due date of September 21, 2014 in technical default 8.00 % 8.00 % (10 ) 5,000 5,000 4,715 4,152 Julian Herskowitz – loan date of July 8, 2003 and due date of January 8, 2004 in technical default 8.00 % 15.00 % (15 ) - - 16,287 16,287 Patrick Tuohy – loan date of April 1, 2014 and due date of December 31, 2014 in technical default 14.00 % 14.00 % (12 ) - - 153 153 Richard Wynns – loan date July 22, 2005 and due date of December 31, 2006, in technical default 5.00 % 5.00 % $ 0.15 7,500 7,500 7,313 7,127 Richard Wynns - loan date July 26, 2010 and due date of December 31, 2011, in technical default 10.00 % 10.00 % (5 ) 93,997 93,997 115,121 108,072 MacRab LLC – loan date May 10, 2022 and due date of May 10, 2023 12.00 % 16.00 % $ 0.0002 33,056 - 1,554 - BHP Capital NY Inc. - loan date July 14, 2022 and due date of July 14, 2023 12.00 % 12.00 % $ 0.0002 25,000 - 641 - Quick Capital LLC - loan date July 14, 2022 and due date of July 14, 2023 12.00 % 12.00 % $ 0.0002 25,000 - 641 - Robert Papiri Defined Benefit Plan - loan date July 15, 2022 and due date of July 15, 2023 12.00 % 12.00 % $ 0.0002 10,000 - 253 - Robert Papiri Defined Contribution Plan - loan date July 15, 2022 and due date of July 15, 2023 12.00 % 12.00 % $ 0.0002 2,500 - 63 - RPG Capital Partners, Inc - loan date July 15, 2022 and due date of July 15, 2023 12.00 % 12.00 % $ 0.0002 2,500 - 63 - RPG Capital Partners, Inc - loan date August 4, 2022 and due date of August 4, 2023 12.00 % 12.00 % $ 0.0002 25,0000 - 469 - RPG Capital Partners, Inc - loan date September 12, 2022 and due date of September 12, 2023 12.00 % 12.00 % $ 0.0002 15,000 - 89 - Total 2,252,659 1,993,603 4,267,426 3,724,455 Less debt discounts (161,099 ) (6,178 ) - - Net $ 2,091,560 $ 1,987,425 $ 4,267,426 $ 3,724,455 CARBONMETA TECHNOLOGIES, INC. AND SUBSIDIARIES Notes to the Condensed Consolidated Financial Statements For the three and nine months ended September 30, 2022 and 2021 (Unaudited) NOTE H – CONVERTIBLE DEBT, NET (continued) (1) Lesser of (a) $0.02 or (b) 85% of the lowest closing price during the 30-day trading period prior to conversion. (2) 50% of the lowest closing price during the 20-day trading period prior to conversion. (3) Lesser of (a) $0.02 or (b) 50% of the lowest volume weighted average price during the 30-day trading period prior to conversion. (4) 86.9565% of the average prices of the five trading days prior to the conversion date. (5) 75% of the average of the three lowest closing prices during the 10-day trading period prior to conversion. (6) 50% of the lesser of (i) the closing price on the day prior to conversion, or (ii) the volume-weighted-average closing price of the five-day trading period prior to conversion, though in no instance shall the conversion price be less than $0.0001. (7) Average of the five trading days prior to the applicable conversion date, with the number of conversion shares multiplied by 115%. (8) 85% of the average of the five trading days prior to the applicable conversion date. (9) 35% of the lowest closing price during the 20-day trading period prior to conversion. (10) 60% of the lowest closing price during the 30-day trading period prior to conversion (11) 50% of the lowest closing price during the 10-day trading period prior to, and including the date of, conversion (12) 60% of the lowest closing price during the 20-day trading period prior to conversion, or $0.01, whichever is lower. (13) 50% of the average of the three lowest closing prices during the 30-day trading period prior to conversion, or $0.02, whichever is lower, with the conversion rate being rounded to $0.0001 or whole share. (15) 65% of the lowest closing price during the 7-day trading period prior to conversion | Convertible debt, net, consists of: SCHEDULE OF CONVERTIBLE DEBT, NET Interest Default Conversion Principal Balance at Accrued Interest Balance at December 31, Lender Rate Rate Price 2021 2020 2021 2020 YA Global Investments, LP - loan date February 5, 2016 and due date of April 30, 2016 , in technical default 6.00 % 18.00 % (1 ) $ - $ 2,715,990 $ - $ 2,298,634 Westmount Holdings International, Ltd - loan date January 12, 2010 due on demand 14.00 % 14.00 % (2 ) 537,317 537,317 893,044 817,819 Tangiers Investment Group, LLC – loan date March 9, 2013 and due date of March 9, 2014, in technical default 10.00 % 20.00 % (3 ) - - 891 891 Tangiers Investment Group, LLC - loan date November 13, 2013 and due date of November 13, 2014 , in technical default 10.00 % 20.00 % (3 ) - 17,000 - 22,547 Tangiers Investment Group, LLC – loan date March 27, 2014 and due date of March 27, 2015 , in technical default 10.00 % 20.00 % (3 ) 75,000 75,000 107,219 92,219 Tangiers Investment Group, LLC – due on demand 0.00 % 15.00 % (3 ) 47,000 72,000 62,892 61,264 Tangiers Investment Group, LLC – loan date October 11, 2016 and due date of October 20, 2017 , in technical default 0.00 % 20.00 % 0.0001 10,000 10,000 6,663 6,411 Tangiers Investment Group, LLC – loan date January 30, 2017 and due date of January 30, 2018 , in technical default 10.00 % 20.00 % 0.001 30,910 30,910 18,445 21,129 Tangiers Investment Group, LLC – loan date July 19, 2021 and due date of July 19, 2022 10.00 % 20.00 % $ 0.001 105,000 - 4,775 - Tangiers Investment Group, LLC – loan date September 8, 2021 and due date of September 8, 2022 10.00 % 20.00 % $ 0.001 105,000 - 3,279 - Dakota Capital Pty, Ltd – loan date April 8, 2014 and due date of December 31, 2014 , in technical default 14.00 % 14.00 % (4 ) 200,000 200,000 216,482 188,842 Zoom Marketing – loan date August 23, 2013 and due date of January 23, 2014 , in technical default 5.00 % 10.00 % (9 ) 65,000 65,000 55,819 49,319 Burrington Capital, LLC – loan date April 2, 2014 and due date of October 1, 2014 , in technical default 10.00 % 15.00 % (13 ) 25,000 25,000 52,447 41,721 Patrick Ferro – loan date April 3, 2014 and due date of December 31, 2014 , in technical default 14.00 % 14.00 % (14 ) 26,825 26,825 34,948 31,193 Barry Liben – loan date April 3, 2014 and due date of December 31, 2014 , in technical default 0.00 % 0.00 % (14 ) 52,800 52,800 - - Jared Robert – loan date December 10, 2014 and due date of June 10, 2015 , in technical default 10.00 % 15.00 % (13 ) 20,000 20,000 35,883 28,144 Raphael Cariou – loan date August 3, 2012 and due date of February 3, 2013 , in technical default 10.00 % 15.00 % (5 ) 7,000 7,000 20,763 16,918 Raphael Cariou – loan date March 12, 2015 and due date of September 12, 2015 , in technical default 24.00 % 29.00 % (5 ) 82,178 82,178 493,167 349,820 Raphael Cariou - loan date March 12, 2015 and due date of September 12, 2015 , in technical default 24.00 % 29.00 % (5 ) 94,178 94,178 552,242 391,187 Redwood Management, LLC – loan date of March 21, 2011 and due date of March 18, 2013 , in technical default 14.00 % 14.00 % (2 ) 123,936 123,936 153,329 135,978 AGS Capital Group, LLC – loan date of February 25, 2013 and due date of February 25, 2014 , in technical default 14.00 % 14.00 % (10 8,640 8,640 101,485 87,176 AGS Capital Group, LLC – loan date of February 25, 2013 and due date of February 25, 2014, in technical default 14.00 % 14.00 % (10 ) 42,000 42,000 101,941 83,278 Tim Burgess – loan date of July 8, 2003 and due date of January 8, 2004 , in technical default 8.00 % 15.00 % $ 1.00 50,000 50,000 136,914 129,414 Azriel Nagar – loan date of July 8, 2003 and due date of January 8, 2004 , in technical default 8.00 % 15.00 % $ 1.00 50,000 50,000 136,914 129,414 Kelburgh, Ltd – loan date of February 12, 2012 and due date of March 22, 2012 , in technical default 10.00 % 15.00 % (9 ) 13,000 13,000 43,311 35,512 Premier IT Solutions – loan date of October 5, 2011 and due date of March 5, 2012 , in technical default 10.00 % 15.00 % (8 ) 21,962 21,962 77,073 63,358 LG Capital Funding, LLC – loan date of March 11, 2014 and due date of March 11, 2015 , in technical default 12.00 % 24.00 % (12 ) 32,000 32,000 56,137 48,457 LG Capital Funding, LLC – loan date of January 7, 2015 and due date of January 7, 2016 , in technical default 12.00 % 24.00 % (12 ) 20,625 20,625 32,094 27,144 LG Capital Funding, LLC – loan date of March 11, 2014 and due date of March 11, 2015 , in technical default 12.00 % 24.00 % (12 ) 24,000 24,000 42,103 36,343 Barclay Lyons – loan date of January 28, 2011 and due date of July 28, 2011 in technical default 21.00 % 36.00 % (7 ) 10,750 10,750 41,484 37,614 Blackridge Capital, LLC – loan date of April 2, 2011 and due date of July 28, 2011 in technical default 10.00 % 15.00 % (8 ) 6,985 6,985 106,920 94,596 Blackridge Capital, LLC – loan date of February 21, 2014 and due date of September 21, 2014 in technical default 8.00 % 8.00 % (11 ) 5,000 5,000 4,152 3,451 RBB Capital, LLC – loan date of June 2, 2011 and due date of June 1, 2012 in technical default 8.00 % 15.00 % (16 ) - 7,683 - 21,271 RBB Capital, LLC – loan date of June 29, 2011 and due date of June 29, 2012 in technical default 8.00 % 8.00 % (17 ) - 202 - 5,531 Julian Herskowitz – loan date of July 8, 2003 and due date of January 8, 2004 in technical default 8.00 % 15.00 % (18 ) - - 16,287 16,287 Patrick Tuohy – loan date of April 1, 2014 and due date of December 31, 2014 in technical default 14.00 % 14.00 % (13 ) - - 153 153 Richard Wynns – loan date July 22, 2005 and due date of December 31, 2006 , in technical default 5.00 % 5.00 % $ 0.15 7,500 7,500 7,127 6,752 Richard Wynns - loan date July 26, 2010 and due date of December 31, 2011 , in technical default 10.00 % 10.00 % (6) 93,998 93,998 108,072 98,672 Total 1,993,603 4,549,479 3,724,455 5,474,608 Less debt discounts (6,178 ) - - - Net $ 1,987,425 $ 4,549,479 $ 3,724,455 $ 5,474,608 (1) Lesser of (a) $0.0003 or (b) 50% of the lowest closing price during the 20-day trading period prior to conversion . (2) Lesser of (a) $0.02 or (b) 85% of the lowest closing price during the 30-day trading period prior to conversion . (3) 50% of the lowest closing price during the 20-day trading period prior to conversion. (4) Lesser of (a) $0.02 or (b) 50% of the lowest closing price during the 30-day trading period prior to conversion . (5) 86.9565% of the average prices of the five trading days prior to the conversion date. (6) 75% of the average of the three lowest closing prices during the 10-day trading period prior to conversion. (7) 50% of the lesser of (i) the closing price on the day prior to conversion, or (ii) the volume-weighted-average closing price of the five-day trading period prior to conversion, though in no instance shall the conversion price be less than $0.0001. (8) Average of the five trading days prior to the applicable conversion date, with the number of conversion shares multiplied by 115%. (9) 85% of the average of the five trading days prior to the applicable conversion date. (10) 35% of the lowest closing price during the 20-day trading period prior to conversion. (11) 60% of the lowest closing price during the 30-day trading period prior to conversion (12) 50% of the lowest closing price during the 10-day trading period prior to, and including the date of, conversion (13) 60% of the lowest closing price during the 20-day trading period prior to conversion, or $0.01, whichever is lower. (14) 50% of the average of the three lowest closing prices during the 30-day trading period prior to conversion, or $0.02, whichever is lower, with the conversion rate being rounded to $0.0001 or whole share. (15) 45% of the lowest closing price during the 20-day trading period prior to, and including the date of, conversion. (16) 50% of the of the average of the three lowest closing prices during the 20-day trading period prior to conversion. (17) 85% of the of the average of the three lowest closing prices during the 20-day trading period prior to conversion. (18) 65% of the lowest closing price during the 7-day trading period prior to conversion |
NOTES PAYABLE (Tables)
NOTES PAYABLE (Tables) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2022 | Dec. 31, 2021 | |
Debt Disclosure [Abstract] | ||
SCHEDULE OF NOTES PAYABLE | Notes payable consist of: SCHEDULE OF NOTES PAYABLE Principal Balance Accrued Interest Balance Description (i) September 30, 2022 December 31, 2021 September 30, 2022 December 31, 2021 Total $ 154,873 $ 127,873 $ 659,232 $ 578,661 Gary Sumner June 29, 2017 note, interest at 5 % compounded (default simple interest at 18 %), due March 31, 2018 $ 45,000 $ 45,000 $ 112,214 $ 106,155 LTC International Corp July 3, 2018 note, interest at 20.8 % (default interest at 41.6 %), due December 17, 2018 4,732 4,732 30,210 28,739 Richard Wynns July 27, 2010 note, interest at 18 % compounded (default compounded interest at 21 %), due January 23, 2011 25,000 25,000 283,815 240,877 William Rittman May 10, 2016 note, interest at 16 % compounded, due August 29, 2016 - 3,000 - - Barclay Lyons March 15, 2011 note, interest at 18.99 % (default interest at 28.99 %), due March 25, 2011 15,000 15,000 50,175 46,922 John Kroon March 17, 2010 note, interest at 18 % compounded (default compounded interest at 21 %), due September 13, 2010 10,000 10,000 123,228 104,704 Walter Jay Bell October 18, 2013 note, interest at 10 %, due November 29, 2013 10,000 10,000 9,005 8,257 Walter Jay Bell April 24, 2016 note, interest at 10 %, due September 30, 2016 8,641 8,641 2,806 2,483 George Ferch March 29, 2011 note, interest at 0 % (default compounded interest at 21 %), due June 27, 2011 5,000 5,000 46,771 39,572 Blackridge, LLC April 11, 2012 note, interest at 5 % (default interest at 5 %), due May 25, 2012 1,500 1,500 1,008 952 Michael Sobeck August 16, 2022 12% 30,000 - - - Total $ 154,873 $ 127,873 $ 659,232 $ 578,661 (i) Unless otherwise noted, interest is simple interest. | Notes payable consist of: SCHEDULE OF NOTES PAYABLE Principal Balance Accrued Interest Balance December 31, December 31, Description (i) 2021 2020 2021 2020 $ 45,000 $ $ 106,155 $ 98,055 Gary Sumner June 29, 2017 note, interest at 5% compounded (default simple interest at 18% ), due March 31, 2018 $ 45,000 $ 45,000 $ 106,155 $ 98,055 LTC International Corp July 3, 2018 note, interest at 20.8% (default interest at 41.6% ), due December 17, 2018 4,732 4,732 28,739 26,770 Richard Wynns July 27, 2010 note, interest at 18% compounded (default compounded interest at 21% ), due January 23, 2011 25,000 25,000 240,877 190,908 William Rittman May 10, 2016 note, interest at 16% compounded, due August 29, 2016 3,000 11,250 - 8,545 Barclay Lyons March 15, 2011 note, interest at 18.99% (default interest at 28.99% ), due March 25, 2011 15,000 15,000 46,922 42,574 John Kroon March 17, 2010 note, interest at 18% compounded (default compounded interest at 21% ), due September 13, 2010 10,000 10,000 104,704 83,146 Walter Jay Bell October 18, 2013 note, interest at 10% , due November 29, 2013 10,000 10,000 8,257 7,246 Walter Jay Bell April 24, 2016 note, interest at 10% , due June 30, 2016 8,641 8,641 2,483 2,046 George Ferch March 29, 2011 note, interest at 0% (default compounded interest at 21% ), due June 27, 2011 5,000 5,000 39,572 31,195 Blackridge, LLC April 11, 2012 note, interest at 5% (default interest at 5% ), due May 25, 2012 1,500 1,500 952 877 Total $ 127,873 $ 136,123 $ 578,661 $ 491,362 (i) Unless otherwise noted, interest is simple interest. |
DERIVATIVE LIABILITIES (Tables)
DERIVATIVE LIABILITIES (Tables) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2022 | Dec. 31, 2021 | |
Derivative Liabilities | ||
SUMMARY OF DERIVATIVE LIABILITIES | At origination and subsequent revaluations, the Company valued the derivative liabilities using the Black-Scholes options pricing model under the following assumptions as of September 30, 2022 and December 31, 2021: SUMMARY OF DERIVATIVE LIABILITIES September 30, 2022 December 31, 2021 Risk-free interest rate 2.86 4.23 % 0.73 % Expected options life 1 3 730 Expected dividend yield - - Expected price volatility 355.59 % 341.14 % | At origination and subsequent revaluations, the Company valued the derivative liabilities using the Black-Scholes options pricing model under the following assumptions as of December 31, 2021 and 2020: SUMMARY OF DERIVATIVE LIABILITIES December 31, 2020 Risk-free interest rate 0.73 % 0.13 - 0.36 % Expected options life 1 - 2 yrs 1 - 3 yrs Expected dividend yield - - Expected price volatility 341 % 693 % |
STOCK OPTIONS AND WARRANTS (Tab
STOCK OPTIONS AND WARRANTS (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Share-Based Payment Arrangement [Abstract] | |
SCHEDULE OF WARRANTS/OPTIONS ISSUED | SCHEDULE OF WARRANTS/OPTIONS ISSUED Name Date of Issuance Shares upon Exercise of warrants or options Exercise Price Expiration Date Lloyd Spencer (i) March 7, 2022 165,000,000 $ 0.0002 March 7, 2027 Tangiers Investment Group, LLC (ii) March 21, 2022 125,000,000 $ 0.0004 March 21, 2027 J.H. Darbie & Co., Inc. (iii) March 28, 2022 19,125,000 $ 0.0004 March 28, 2027 MacRab LLC (iv) April 14, 2022 500,000,000 $ 0.0004 April 14, 2027 MacRab LLC (v) May 10, 2022 74,375,000 $ 0.0004 May 10, 2027 BHP Capital NY Inc. (vi) July 14, 2022 62,500,000 $ 0.0004 July 14, 2027 Quick Capital LLC (vii) July 14, 2022 62,500,000 $ 0.0004 July 14, 2027 Robert Papiri Defined Benefit Plan (viii) July 15, 2022 25,000,000 $ 0.0004 July 15, 2027 Robert Papiri Defined Contribution Plan(ix) July 15, 2022 6,250,000 $ 0.0004 July 15, 2027 RPG Capital Partners Inc. (x) July 15, 2022 6,250,000 $ 0.0004 July 15, 2027 RPG Capital Partners Inc. (xi) August 4, 2022 62,500,000 $ 0.0004 August 4, 2027 RPG Capital Partners Inc. (xii) Sept 12, 2022 37,500,000 $ 0.0004 Sept 12, 2027 Total 1,146,000,000 (i) On March 7, 2022, the Company issued Lloyd Spencer (the “Holder”) a Fixed Convertible Promissory Note (the “Note”) in the amount of $ 66,000 . The Note has a term of one ( 1 ) year (Maturity date of March 7, 2023 ) and bears interest at 12 % annually. The Note is convertible, in whole or in part, at any time and from time to time before maturity at the option of the Holder at the Fixed Conversion Price of $ 0.0002 per share. Upon the event of default, the Note shall accrue interest at the rate equal to the lower of 16 % per annum or the highest rate permitted by law. The transaction closed on March 7, 2022. In connection with this note, the Holder was issued warrants to purchase 165,000,000 shares of the Company’s Common Stock at $ 0.0004 per share. (ii) On March 21, 2022, the Company issued Tangiers Investment Group, LLC (the “Holder”) a Fixed Convertible Promissory Note (the “Note”) in the amount of $ 55,000 . The Note has a term of one ( 1 ) year (Maturity date of March 21, 2023 ) and bears interest at 12 % annually. The Note is convertible, in whole or in part, at any time and from time to time before maturity at the option of the Holder at the Fixed Conversion Price of $ 0.0002 per share. Upon the event of default, the Note shall accrue interest at the rate equal to the lower of 16 % per annum or the highest rate permitted by law. The transaction closed on March 21, 2022. In connection with this note, the Holder was issued warrants to purchase 125,000,000 shares of the Company’s Common Stock at $ 0.0004 per share. (iii) On February 23, 2022, the Company and J.H. Darbie & Co., Inc. (“Darbie”) entered into a Placement Agent Agreement (the “Agreement”). Under the terms of the Agreement, Darbie was issued warrants to purchase 19,125,000 0.0004 (iv) On April 14, 2022, the Company and MacRab, LLC (the “Investor”) entered into a Standby Equity Commitment Agreement (the “Agreement”) whereby the Company shall issue and sell to the Investor, from time to time, up to $ 5,000,000 88 500,000,000 0.0004 (v) On May 10, 2022, the Company issued MacRab, LLC (the “Holder”) a Fixed Convertible Promissory Note (the “Note”) in the amount of $ 33,056 1 May 10, 2023 12 0.0002 five-year 74,375,000 0.0004 16,527,775 (vi) On July 14, 2022, the Company issued BHP Capital NY Inc. (the “Holder”) a Fixed Convertible Promissory Note (the “Note”) in the principal amount of $ 25,000 1 July 14, 2023 12% 0.0002 five-year 62,500,000 0.0004 212,500,000 (vii) On July 14, 2022, the Company issued Quick Capital, LLC (the “Holder”) a Fixed Convertible Promissory Note (the “Note”) in the principal amount of $ 25,000 1 July 14, 2023 0.0002 five-year 62,500,000 0.0004 212,500,000 (viii) On July 15, 2022, the Company issued the Robert Papiri Defined Benefit Plan (the “Holder”) a Fixed Convertible Promissory Note (the “Note”) in the principal amount of $ 10,000 1 July 15, 2023 0.0002 five-year 25,000,000 0.0004 85,000,000 CARBONMETA TECHNOLOGIES, INC. AND SUBSIDIARIES Notes to the Condensed Consolidated Financial Statements For the three and nine months ended September 30, 2022 and 2021 (Unaudited) (ix) On July 15, 2022, the Company issued the Robert Papiri Defined Contribution Plan (the “Holder”) a Fixed Convertible Promissory Note (the “Note”) in the principal amount of $ 2,500 1 July 15, 2023 0.0002 five-year 6,250,000 0.0004 21,250,000 (x) On July 15, 2022, the Company issued the RGP Capital Partners, Inc. (the “Holder”) a Fixed Convertible Promissory Note (the “Note”) in the principal amount of $ 2,500 1 July 15, 2023 0.0002 five-year 6,250,000 0.0004 21,250,000 (xi) On August 4, 2022, the Company issued the RGP Capital Partners, Inc. (the “Holder”) a Fixed Convertible Promissory Note (the “Note”) in the principal amount of $ 25,000 1 July 27, 2023 0.0002 five-year 62,500,000 0.0004 212,500,000 (xii) On September 12, 2022, the Company issued the RGP Capital Partners, Inc. (the “Holder”) a Fixed Convertible Promissory Note (the “Note”) in the principal amount of $ 15,000 1 September 12, 2023 0.0002 five-year 37,500,000 0.0004 212,500,000 |
OBLIGATIONS COLLATERALIZED BY_4
OBLIGATIONS COLLATERALIZED BY RECEIVABLES, NET (Tables) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2022 | Dec. 31, 2021 | |
Obligations Collateralized By Receivables Net | ||
SCHEDULE OF OBLIGATIONS COLLATERALIZED BY RECEIVABLES | Obligations collateralized by receivables consist of the following at September 30, 2022 and December 31, 2021: SCHEDULE OF OBLIGATIONS COLLATERALIZED BY RECEIVABLES September 30, December 31, 2022 2021 Quick Fix Capital August 17, 2015 arrangement $ 48,907 $ 48,907 Power Up January 8, 2016 arrangement 14,232 14,232 Power Up April 12, 2016 arrangement 67,645 67,645 Power Up April 28, 2016 arrangement 29,696 29,696 Power Up June 2, 2016 arrangement 45,756 45,756 Total $ 206,236 $ 206,236 | Obligations collateralized by receivables consist of: SCHEDULE OF OBLIGATIONS COLLATERALIZED BY RECEIVABLES December 31, December 31, 2021 2020 Knight Capital July 16, 2015 arrangement $ - $ 76,317 Quick Fix Capital August 17, 2015 arrangement 48,907 48,907 Power Up January 8, 2016 arrangement 14,232 14,232 Power Up April 12, 2016 arrangement 67,645 67,645 Power Up April 28, 2016 arrangement 29,696 29,696 Power Up June 2, 2016 arrangement 45,756 45,756 Total $ 206,236 $ 282,553 |
INCOME TAXES (Tables)
INCOME TAXES (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Income Tax Disclosure [Abstract] | |
SCHEDULE OF DEFERRED TAX ASSETS | The sources of the differences follow: SCHEDULE OF DEFERRED TAX ASSETS 2021 2020 December 31, 2021 2020 Loss carryforwards $ 5,381,301 $ 5,057,697 Valuation (5,381,301 ) (5,057,697 ) Net deferred tax assets $ - $ - |
SCHEDULE OF COMPONENTS OF INCOME TAX EXPENSE (BENEFIT) | SCHEDULE OF COMPONENTS OF INCOME TAX EXPENSE (BENEFIT) 2021 2020 For the years ended December 31, 2021 2020 Expected income tax (benefit) at 21 % $ 1,736,479 $ (2,463,246 ) Non-deductible (non-taxable) loss (gain) from derivative liability (2,060,082 ) 2,184,395 Change in valuation allowance 323,603 278,851 Provision for income taxes $ - $ - |
ORGANIZATION (Details Narrative
ORGANIZATION (Details Narrative) | 1 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||
Jun. 10, 2022 EUR (€) | Dec. 02, 2021 | Oct. 31, 2021 USD ($) | Jun. 02, 2021 USD ($) | Jun. 02, 2021 GBP (£) | Feb. 17, 2022 GBP (£) shares | Dec. 31, 2022 USD ($) | Sep. 30, 2022 USD ($) | Sep. 30, 2021 USD ($) | Sep. 30, 2022 USD ($) | Sep. 30, 2022 EUR (€) | Sep. 30, 2021 USD ($) | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) | Jun. 30, 2022 | |
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||||||||||
Professional fees | $ | $ 87,145 | $ 84,105 | $ 255,154 | $ 84,105 | $ 88,767 | ||||||||||
Royalty rate | 5% | 5% | |||||||||||||
Debt Instrument, Fee | 20,000 | ||||||||||||||
Shares Issued, Shares, Share-Based Payment Arrangement, after Forfeiture | shares | 160,000,000 | ||||||||||||||
Royalty Rate Payable Percentage | 5% | ||||||||||||||
Proceeds from service awarded | € 50,000 | $ 9,439 | $ 40,103 | $ 49,542 | € 50,000 | ||||||||||
ARiCON, LLC [Member] | |||||||||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||||||||||
Equity Method Investment, Ownership Percentage | 51% | 51% | |||||||||||||
License Of Agreement [Member] | |||||||||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||||||||||
Debt Instrument, Fee | 20,000 | 27,247 | |||||||||||||
License One [Member] | |||||||||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||||||||||
Royalty expense | £ 5,000 | £ 5,000 | |||||||||||||
License Two [Member] | |||||||||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||||||||||
Royalty expense | 3,000 | 3,000 | |||||||||||||
License Three [Member] | |||||||||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||||||||||
Royalty expense | 1,000 | £ 1,000 | |||||||||||||
License Agreement Terms [Member] | |||||||||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||||||||||
Professional fees | $ 55,713 | $ 79,256 | 54,807 | ||||||||||||
Long-term purchase commitment, amount | 20,000 | ||||||||||||||
License Agreement Terms [Member] | Patents [Member] | Americas [Member] | |||||||||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||||||||||
Finite lived intangible assets translation | 10,000 | ||||||||||||||
License Agreement Terms [Member] | Patents [Member] | European Union [Member] | |||||||||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||||||||||
Finite lived intangible assets translation | 10,000 | ||||||||||||||
License Agreement Terms [Member] | License [Member] | |||||||||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||||||||||
Revenues | 50,000 | ||||||||||||||
License Agreement Terms [Member] | License [Member] | Maximum [Member] | |||||||||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||||||||||
Revenues | $ 1,000,000 | £ 1,000,000 |
SUMMARY OF ESTIMATED USEFUL LIV
SUMMARY OF ESTIMATED USEFUL LIVES (Details) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2022 | Dec. 31, 2021 | |
Computer Equipment And Software [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Estimated useful lives | 5 years | 5 years |
Filament Production Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Estimated useful lives | 3 years | 3 years |
SUMMARY OF ASSETS AND LIABILITI
SUMMARY OF ASSETS AND LIABILITIES THAT ARE MEASURED AND RECOGNIZED AT FAIR VALUE (Details) - USD ($) | Sep. 30, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Defined Benefit Plan Disclosure [Line Items] | |||
Derivative liabilities | $ (10,918,883) | $ (11,904,070) | $ (21,713,986) |
Fair Value, Inputs, Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Derivative liabilities | |||
Fair Value, Inputs, Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Derivative liabilities | $ (10,918,883) | (11,904,070) | (21,713,986) |
Fair Value, Inputs, Level 3 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Derivative liabilities |
SIGNIFICANT ACCOUNTING POLICI_4
SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||
Sep. 30, 2022 USD ($) | Sep. 30, 2021 USD ($) | Sep. 30, 2022 USD ($) shares | Sep. 30, 2021 USD ($) | Dec. 31, 2021 USD ($) Segment shares | Dec. 31, 2020 USD ($) shares | Jun. 30, 2022 | |
Product Information [Line Items] | |||||||
Other Research and Development Expense | $ 14,820 | $ 0 | |||||
Antidilutive securities | shares | 24,713,991,521 | 32,963,937,306 | 106,376,994,454 | ||||
Dividends Payable, Current | $ 15,969 | $ 15,969 | $ 15,969 | $ 15,969 | |||
Cash Equivalents, at Carrying Value | 0 | ||||||
Number of Reportable Segments | Segment | 1 | ||||||
Research and Development Expense | 6,176 | 14,820 | $ 0 | 0 | |||
Preferred Stock, Dividend Rate, Percentage | 5% | ||||||
Series B Preferred Stock [Member] | |||||||
Product Information [Line Items] | |||||||
Dividends payable | $ 125,737 | $ 125,737 | $ 119,750 | ||||
Preferred Stock, Dividend Rate, Percentage | 5% | 5% | |||||
Dividends, Preferred Stock | $ 119,750 | $ 111,767 | |||||
Assets and Liabilities [Member] | |||||||
Product Information [Line Items] | |||||||
Foreign Currency Exchange Rate, Translation | 1.113030 | 1.113030 | |||||
Revenues and Expenses [Member] | |||||||
Product Information [Line Items] | |||||||
Foreign Currency Exchange Rate, Translation | 1.164519 | 1.164519 | |||||
ARiCON, LLC [Member] | |||||||
Product Information [Line Items] | |||||||
Equity Method Investment, Ownership Percentage | 51% | 51% |
GOING CONCERN (Details Narrativ
GOING CONCERN (Details Narrative) - USD ($) | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Dec. 31, 2021 | Dec. 31, 2020 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||||
Profit loss | $ (422,947) | $ 1,761,111 | $ 8,268,947 | $ 11,729,741 |
Working capital deficit | 25,631,383 | 26,006,260 | 39,777,577 | |
Retained Earnings (Accumulated Deficit) | $ 64,807,335 | $ 64,404,388 | $ 72,673,335 |
SCHEDULE OF PROPERTY AND EQUIPM
SCHEDULE OF PROPERTY AND EQUIPMENT (Details) - USD ($) | Sep. 30, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Property, Plant and Equipment [Abstract] | |||
Computer equipment and software | $ 1,325 | $ 1,325 | |
Filament production equipment | 45,799 | 45,799 | |
Subtotal | 47,124 | 47,124 | |
Less: accumulated depreciation | (14,320) | (2,704) | |
Property and equipment, net | $ 32,804 | $ 44,420 |
PROPERTY AND EQUIPMENT, NET (De
PROPERTY AND EQUIPMENT, NET (Details Narrative) - USD ($) | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Dec. 31, 2021 | Dec. 31, 2020 | |
Property, Plant and Equipment [Abstract] | ||||
Depreciation expense | $ 11,616 | $ 2,704 | $ 0 |
SCHEDULE OF LICENSE, NET (Detai
SCHEDULE OF LICENSE, NET (Details) - USD ($) | Sep. 30, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Finite-Lived Intangible Assets [Line Items] | |||
Subtotal | $ 170,503 | $ 79,256 | |
Accumulated amortization | (25,631) | (4,603) | |
License, net | 144,872 | 74,653 | |
Oxford University Innovation Limited [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Subtotal | 79,256 | 79,256 | |
Ecomena Limited [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Subtotal | $ 91,247 |
SCHEDULE OF FUTURE AMORTIZATION
SCHEDULE OF FUTURE AMORTIZATION OF LICENSE EXPENSE (Details) - USD ($) | Sep. 30, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Goodwill and Intangible Assets Disclosure [Abstract] | |||
2022 | $ 6,547 | $ 7,926 | |
2023 | 26,175 | 7,925 | |
2024 | 26,176 | 7,926 | |
2025 | 26,175 | 7,925 | |
2026 | 26,176 | 7,926 | |
Thereafter | 33,623 | 35,025 | |
License, net | $ 144,872 | $ 74,653 |
LICENSES, NET (Details Narrativ
LICENSES, NET (Details Narrative) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | Dec. 31, 2021 | Dec. 31, 2020 | |
Goodwill and Intangible Assets Disclosure [Abstract] | ||||||
Amortization of licenses expense | $ 6,598 | $ 21,028 | $ 4,603 |
SCHEDULE OF ACCOUNTS PAYABLE AN
SCHEDULE OF ACCOUNTS PAYABLE AND ACCRUED EXPENSES (Details) - USD ($) | Sep. 30, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Payables and Accruals [Abstract] | |||
Accounts payable | $ 1,400,791 | $ 1,344,631 | $ 1,327,167 |
Accrued interest | 6,107,347 | 5,422,526 | 7,012,529 |
Accrued CEO compensation | 837,000 | 874,500 | 750,000 |
Accrued CarbonMeta Research, Ltd Board of Directors fees | 53,195 | ||
Accrued payroll | 110,335 | 111,368 | 111,368 |
Deferred compensation to Chief Technology Officer of Company subsidiary, CoroWare Technologies, Inc. | 230,993 | 230,993 | 230,993 |
Payroll taxes payable | 1,998,735 | 1,998,735 | 2,104,551 |
Commissions payable | 221,188 | 221,188 | 221,188 |
Accrued consulting fees relating to the Mutual Release and Settlement Agreement dated July 19, 2021 with Y.A. Global Investments, LP (Note H) | 50,000 | 350,000 | |
Accrued dividends on Series B Preferred Stock | 15,969 | 15,969 | 15,969 |
License fee payable to Ecomena Limited | 27,247 | ||
Accrued expenses | 119,243 | 360,040 | |
Garnishment liens payable | 35,502 | 35,502 | |
Pension plan payable | 23,981 | 23,981 | |
Deferred Salaries | 232,818 | 232,818 | |
Credit cards payable | 81,048 | ||
Other | 47,316 | 71,954 | 89,561 |
Total | $ 11,100,116 | $ 10,641,864 | $ 11,944,374 |
SCHEDULE OF INFORMATION ABOUT L
SCHEDULE OF INFORMATION ABOUT LIABILITIES (Details) - USD ($) | Sep. 30, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
PayablesAndAccrualsLineItems [Line Items] | |||
Total | $ 1,400,791 | $ 1,344,631 | $ 1,327,167 |
CarbonMeta Technologies Inc [Member] | |||
PayablesAndAccrualsLineItems [Line Items] | |||
Total | 197,657 | 139,409 | |
CoroWare Technologies, Inc. [Member] | |||
PayablesAndAccrualsLineItems [Line Items] | |||
Total | 1,156,327 | 1,156,327 | |
CoroWare Robotics Solutions, Inc. [Member] | |||
PayablesAndAccrualsLineItems [Line Items] | |||
Total | 34,353 | 34,353 | |
Carbon Source Inc [Member] | |||
PayablesAndAccrualsLineItems [Line Items] | |||
Total | 3,197 | ||
ARiCON, LLC [Member] | |||
PayablesAndAccrualsLineItems [Line Items] | |||
Total | $ 9,257 | 9,257 | |
CoroWare Treasury, Inc. [Member] | |||
PayablesAndAccrualsLineItems [Line Items] | |||
Total | $ 5,285 |
ACCOUNTS PAYABLE AND ACCRUED _3
ACCOUNTS PAYABLE AND ACCRUED EXPENSES (Details Narrative) - USD ($) | 1 Months Ended | |||
Oct. 28, 2021 | Sep. 30, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Payables and Accruals [Abstract] | ||||
Accounts payable current | $ 1,400,791 | $ 1,344,631 | $ 1,327,167 | |
Payroll taxes payable | 1,998,735 | |||
Commissions payable | 221,188 | 221,188 | ||
Amount offered in trust fund | $ 1,400,000 | |||
Liability | 534,457 | 25,651,033 | 26,046,833 | 39,777,577 |
Payments for internal revenue service | $ 106,891 | |||
Payroll taxes payable | $ 1,998,735 | $ 1,998,735 | $ 2,104,551 |
SCHEDULE OF OBLIGATIONS COLLATE
SCHEDULE OF OBLIGATIONS COLLATERALIZED BY RECEIVABLES (Details) - USD ($) | Sep. 30, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Short-Term Debt [Line Items] | |||
Total | $ 206,236 | $ 206,236 | $ 282,553 |
Quick Fix Capital Arrangement [Member] | |||
Short-Term Debt [Line Items] | |||
Total | 48,907 | 48,907 | 48,907 |
Power Up Arrangement [Member] | |||
Short-Term Debt [Line Items] | |||
Total | 14,232 | 14,232 | 14,232 |
Power Up One Arrangement [Member] | |||
Short-Term Debt [Line Items] | |||
Total | 67,645 | 67,645 | 67,645 |
Power Up Two Arrangement [Member] | |||
Short-Term Debt [Line Items] | |||
Total | 29,696 | 29,696 | 29,696 |
Power Up Three Arrangement [Member] | |||
Short-Term Debt [Line Items] | |||
Total | $ 45,756 | 45,756 | 45,756 |
Knight Capital Arrangement [Member] | |||
Short-Term Debt [Line Items] | |||
Total | $ 76,317 |
SCHEDULE OF CONVERTIBLE DEBT, N
SCHEDULE OF CONVERTIBLE DEBT, NET (Details) - USD ($) | 9 Months Ended | 12 Months Ended | ||||||
Sep. 30, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | May 10, 2022 | Mar. 21, 2022 | ||||
ConvertibleDebtLineItems [Line Items] | ||||||||
Subtotal | $ 33,056 | |||||||
Total, Accrued Interest Balance | $ 4,267,426 | $ 3,724,455 | $ 5,474,608 | |||||
Total, Principal Balance | 2,252,659 | 1,993,603 | 4,549,479 | |||||
Less debt discounts, Principal Balance | 161,099 | 6,178 | 0 | |||||
Less debt discounts, Principal Balance | (161,099) | (6,178) | 0 | |||||
Less debt discounts, Accrued Interest Balance | ||||||||
Net, Principal Balance | 2,091,560 | 1,987,425 | 4,549,479 | |||||
Net, Accrued Interest Balance | $ 4,267,426 | $ 3,724,455 | 5,474,608 | |||||
Westmount Holdings International Ltd [Member] | ||||||||
ConvertibleDebtLineItems [Line Items] | ||||||||
Interest Rate | 14% | 14% | ||||||
Default Rate | 14% | 14% | ||||||
Subtotal | $ 537,317 | $ 537,317 | 537,317 | |||||
Total, Accrued Interest Balance | $ 949,308 | 893,044 | 817,819 | |||||
Tangiers Investment Group LLC [Member] | ||||||||
ConvertibleDebtLineItems [Line Items] | ||||||||
Interest Rate | [1] | 10% | ||||||
Default Rate | [1] | 20% | ||||||
Subtotal | [1] | |||||||
Total, Accrued Interest Balance | [1] | $ 891 | $ 891 | |||||
Tangiers Investment Group LLC [Member] | Loan Date March 9, 2013 and Due Date March 9, 2014 [Member] | ||||||||
ConvertibleDebtLineItems [Line Items] | ||||||||
Interest Rate | 10% | |||||||
Default Rate | 20% | |||||||
Subtotal | ||||||||
Total, Accrued Interest Balance | 891 | 891 | ||||||
Tangiers Investment Group LLC One [Member] | ||||||||
ConvertibleDebtLineItems [Line Items] | ||||||||
Interest Rate | [1] | 10% | ||||||
Default Rate | [1] | 20% | ||||||
Subtotal | [1] | $ 75,000 | 75,000 | |||||
Total, Accrued Interest Balance | [1] | $ 118,438 | 107,219 | |||||
Tangiers Investment Group LLC Two [Member] | ||||||||
ConvertibleDebtLineItems [Line Items] | ||||||||
Interest Rate | [1] | 0% | ||||||
Default Rate | [1] | 15% | ||||||
Subtotal | [1] | $ 47,000 | 47,000 | |||||
Total, Accrued Interest Balance | [1] | $ 62,892 | 62,892 | |||||
Conversion Price | $ 0.0006 | |||||||
Tangiers Investment Group LLC Three [Member] | ||||||||
ConvertibleDebtLineItems [Line Items] | ||||||||
Interest Rate | 0% | |||||||
Default Rate | 20% | |||||||
Subtotal | $ 10,000 | 10,000 | ||||||
Total, Accrued Interest Balance | $ 6,663 | 6,663 | ||||||
Conversion Price | $ 0.0006 | |||||||
Tangiers Investment Group LLC Four [Member] | ||||||||
ConvertibleDebtLineItems [Line Items] | ||||||||
Interest Rate | 10% | |||||||
Default Rate | 20% | |||||||
Subtotal | $ 30,910 | 30,910 | ||||||
Total, Accrued Interest Balance | $ 18,445 | 18,445 | ||||||
Conversion Price | $ 0.0006 | |||||||
Tangiers Investment Group LLC Five [Member] | ||||||||
ConvertibleDebtLineItems [Line Items] | ||||||||
Interest Rate | 10% | |||||||
Default Rate | 20% | |||||||
Subtotal | $ 105,000 | 105,000 | ||||||
Total, Accrued Interest Balance | $ 12,628 | 4,775 | ||||||
Conversion Price | $ 0.001 | |||||||
Tangiers Investment Group LLC Six [Member] | ||||||||
ConvertibleDebtLineItems [Line Items] | ||||||||
Interest Rate | 10% | |||||||
Default Rate | 20% | |||||||
Subtotal | $ 105,000 | 105,000 | ||||||
Total, Accrued Interest Balance | $ 11,033 | 3,279 | ||||||
Conversion Price | $ 0.001 | |||||||
Tangiers Investment Group LLC Seven [Member] | ||||||||
ConvertibleDebtLineItems [Line Items] | ||||||||
Interest Rate | 12% | |||||||
Default Rate | 16% | |||||||
Subtotal | $ 55,000 | |||||||
Total, Accrued Interest Balance | $ 3,490 | |||||||
Conversion Price | $ 0.0002 | |||||||
Lloyd T Spencer [Member] | ||||||||
ConvertibleDebtLineItems [Line Items] | ||||||||
Interest Rate | 12% | |||||||
Default Rate | 16% | |||||||
Subtotal | $ 66,000 | |||||||
Total, Accrued Interest Balance | $ 4,492 | |||||||
Conversion Price | $ 0.000002 | |||||||
Dakota [Member] | ||||||||
ConvertibleDebtLineItems [Line Items] | ||||||||
Interest Rate | 14% | 14% | ||||||
Default Rate | 14% | 14% | ||||||
Subtotal | $ 200,000 | $ 200,000 | 200,000 | |||||
Total, Accrued Interest Balance | $ 237,425 | $ 216,482 | 188,842 | |||||
Zoom Marketing [Member] | ||||||||
ConvertibleDebtLineItems [Line Items] | ||||||||
Interest Rate | 5% | 5% | ||||||
Default Rate | 10% | 10% | ||||||
Subtotal | $ 65,000 | $ 65,000 | 65,000 | |||||
Total, Accrued Interest Balance | $ 60,680 | $ 55,819 | 49,319 | |||||
Burrington Capital, LLC [Member] | ||||||||
ConvertibleDebtLineItems [Line Items] | ||||||||
Interest Rate | 10% | 10% | ||||||
Default Rate | 15% | 15% | ||||||
Subtotal | $ 25,000 | $ 25,000 | 25,000 | |||||
Total, Accrued Interest Balance | $ 61,581 | $ 52,447 | 41,721 | |||||
Patrick Ferro [Member] | ||||||||
ConvertibleDebtLineItems [Line Items] | ||||||||
Interest Rate | 14% | 14% | ||||||
Default Rate | 14% | 14% | ||||||
Subtotal | $ 26,825 | $ 26,825 | 26,825 | |||||
Total, Accrued Interest Balance | $ 37,757 | $ 34,948 | 31,193 | |||||
Barry Liben [Member] | ||||||||
ConvertibleDebtLineItems [Line Items] | ||||||||
Interest Rate | 0% | 0% | ||||||
Default Rate | 0% | 0% | ||||||
Subtotal | $ 52,800 | $ 52,800 | 52,800 | |||||
Total, Accrued Interest Balance | ||||||||
Jared Robert [Member] | ||||||||
ConvertibleDebtLineItems [Line Items] | ||||||||
Interest Rate | 10% | 10% | ||||||
Default Rate | 15% | 15% | ||||||
Subtotal | $ 20,000 | $ 20,000 | 20,000 | |||||
Total, Accrued Interest Balance | $ 42,475 | $ 35,883 | 28,144 | |||||
Raphael Cariou [Member] | ||||||||
ConvertibleDebtLineItems [Line Items] | ||||||||
Interest Rate | 10% | 10% | ||||||
Default Rate | 15% | 15% | ||||||
Subtotal | $ 7,000 | $ 7,000 | 7,000 | |||||
Total, Accrued Interest Balance | $ 24,038 | $ 20,763 | 16,918 | |||||
Raphael Cariou One [Member] | ||||||||
ConvertibleDebtLineItems [Line Items] | ||||||||
Interest Rate | 24% | 24% | ||||||
Default Rate | 29% | 29% | ||||||
Subtotal | $ 82,178 | $ 82,178 | 82,178 | |||||
Total, Accrued Interest Balance | $ 630,692 | $ 493,167 | 349,820 | |||||
Raphael Cariou Two [Member] | ||||||||
ConvertibleDebtLineItems [Line Items] | ||||||||
Interest Rate | 24% | 24% | ||||||
Default Rate | 29% | 29% | ||||||
Subtotal | $ 94,178 | $ 94,178 | 94,178 | |||||
Total, Accrued Interest Balance | $ 706,756 | $ 552,242 | 391,187 | |||||
Redwood Management LLC [Member] | ||||||||
ConvertibleDebtLineItems [Line Items] | ||||||||
Interest Rate | 14% | 14% | ||||||
Default Rate | 14% | 14% | ||||||
Subtotal | $ 123,936 | $ 123,936 | 123,936 | |||||
Total, Accrued Interest Balance | $ 166,307 | $ 153,329 | 135,978 | |||||
Ags Capital Group LLC [Member] | ||||||||
ConvertibleDebtLineItems [Line Items] | ||||||||
Interest Rate | 14% | 14% | ||||||
Default Rate | 14% | 14% | ||||||
Subtotal | $ 8,640 | $ 8,640 | 8,640 | |||||
Total, Accrued Interest Balance | $ 113,568 | $ 101,485 | 87,176 | |||||
Ags Capital Group LLC One [Member] | ||||||||
ConvertibleDebtLineItems [Line Items] | ||||||||
Interest Rate | 14% | 14% | ||||||
Default Rate | 14% | 14% | ||||||
Subtotal | $ 42,000 | $ 42,000 | 42,000 | |||||
Total, Accrued Interest Balance | $ 117,733 | $ 101,941 | 83,278 | |||||
Tim Burgess [Member] | ||||||||
ConvertibleDebtLineItems [Line Items] | ||||||||
Interest Rate | 8% | 8% | ||||||
Default Rate | 15% | 15% | ||||||
Subtotal | $ 50,000 | $ 50,000 | 50,000 | |||||
Total, Accrued Interest Balance | $ 140,633 | $ 136,914 | 129,414 | |||||
Conversion Price | $ 1 | $ 1 | ||||||
Azriel Nagar [Member] | ||||||||
ConvertibleDebtLineItems [Line Items] | ||||||||
Interest Rate | 8% | 8% | ||||||
Default Rate | 15% | 15% | ||||||
Subtotal | $ 50,000 | $ 50,000 | 50,000 | |||||
Total, Accrued Interest Balance | $ 140,633 | $ 136,914 | 129,414 | |||||
Conversion Price | $ 1 | $ 1 | ||||||
Kelburgh, Ltd [Member] | ||||||||
ConvertibleDebtLineItems [Line Items] | ||||||||
Interest Rate | 10% | 10% | ||||||
Default Rate | 15% | 15% | ||||||
Subtotal | $ 13,000 | $ 13,000 | 13,000 | |||||
Total, Accrued Interest Balance | $ 49,953 | $ 43,311 | 35,512 | |||||
Premier IT Solutions [Member] | ||||||||
ConvertibleDebtLineItems [Line Items] | ||||||||
Interest Rate | 10% | 10% | ||||||
Default Rate | 15% | 15% | ||||||
Subtotal | $ 21,962 | $ 21,962 | 21,962 | |||||
Total, Accrued Interest Balance | $ 88,754 | $ 77,073 | 63,358 | |||||
LG Capital Funding LLC [Member] | ||||||||
ConvertibleDebtLineItems [Line Items] | ||||||||
Interest Rate | 12% | 12% | ||||||
Default Rate | 24% | 24% | ||||||
Subtotal | $ 32,000 | $ 32,000 | 32,000 | |||||
Total, Accrued Interest Balance | $ 61,862 | $ 56,137 | 48,457 | |||||
LG Capital Funding LLC One [Member] | ||||||||
ConvertibleDebtLineItems [Line Items] | ||||||||
Interest Rate | 12% | 12% | ||||||
Default Rate | 24% | 24% | ||||||
Subtotal | $ 20,625 | $ 20,625 | 20,625 | |||||
Total, Accrued Interest Balance | $ 35,796 | $ 32,094 | 27,144 | |||||
LG Capital Funding LLC Two [Member] | ||||||||
ConvertibleDebtLineItems [Line Items] | ||||||||
Interest Rate | 12% | 12% | ||||||
Default Rate | 24% | 24% | ||||||
Subtotal | $ 24,000 | $ 24,000 | 24,000 | |||||
Total, Accrued Interest Balance | $ 46,411 | $ 42,103 | 36,343 | |||||
Barclay Lyons [Member] | ||||||||
ConvertibleDebtLineItems [Line Items] | ||||||||
Interest Rate | 21% | [2] | 21% | |||||
Default Rate | 36% | [2] | 36% | |||||
Subtotal | $ 10,750 | [2] | $ 10,750 | [2] | 10,750 | |||
Total, Accrued Interest Balance | $ 44,378 | [2] | $ 41,484 | [2] | 37,614 | |||
Blackridge Capital LLC [Member] | ||||||||
ConvertibleDebtLineItems [Line Items] | ||||||||
Interest Rate | 10% | 10% | ||||||
Default Rate | 15% | 15% | ||||||
Subtotal | $ 6,985 | $ 6,985 | 6,985 | |||||
Total, Accrued Interest Balance | $ 120,356 | $ 106,920 | 94,596 | |||||
Blackridge Capital LLC One [Member] | ||||||||
ConvertibleDebtLineItems [Line Items] | ||||||||
Interest Rate | 8% | 8% | ||||||
Default Rate | 8% | 8% | ||||||
Subtotal | $ 5,000 | $ 5,000 | 5,000 | |||||
Total, Accrued Interest Balance | $ 4,715 | $ 4,152 | 3,451 | |||||
Julian Herskowitz [Member] | ||||||||
ConvertibleDebtLineItems [Line Items] | ||||||||
Interest Rate | 8% | 8% | ||||||
Default Rate | 15% | 15% | ||||||
Subtotal | ||||||||
Total, Accrued Interest Balance | $ 16,287 | $ 16,287 | 16,287 | |||||
Patrick Tuohy [Member] | ||||||||
ConvertibleDebtLineItems [Line Items] | ||||||||
Interest Rate | 14% | 14% | ||||||
Default Rate | 14% | 14% | ||||||
Subtotal | ||||||||
Total, Accrued Interest Balance | $ 153 | $ 153 | 153 | |||||
Richard Wynns [Member] | ||||||||
ConvertibleDebtLineItems [Line Items] | ||||||||
Interest Rate | 5% | 5% | ||||||
Default Rate | 5% | 5% | ||||||
Subtotal | $ 7,500 | $ 7,500 | 7,500 | |||||
Total, Accrued Interest Balance | $ 7,313 | $ 7,127 | 6,752 | |||||
Conversion Price | $ 0.15 | $ 0.15 | ||||||
Richard Wynns One [Member] | ||||||||
ConvertibleDebtLineItems [Line Items] | ||||||||
Interest Rate | 10% | [3] | 10% | |||||
Default Rate | 10% | [3] | 10% | |||||
Subtotal | $ 93,997 | [3] | $ 93,997 | [3] | 93,998 | |||
Total, Accrued Interest Balance | $ 115,121 | [3] | 108,072 | [3] | 98,672 | |||
Net, Principal Balance | 93,998 | |||||||
Mac Rab LLC [Member] | ||||||||
ConvertibleDebtLineItems [Line Items] | ||||||||
Interest Rate | 12% | |||||||
Default Rate | 16% | |||||||
Subtotal | $ 33,056 | |||||||
Total, Accrued Interest Balance | $ 1,554 | |||||||
Conversion Price | $ 0.0002 | |||||||
B H P Capital N Y Inc [Member] | ||||||||
ConvertibleDebtLineItems [Line Items] | ||||||||
Interest Rate | 12% | |||||||
Default Rate | 12% | |||||||
Subtotal | $ 25,000 | |||||||
Total, Accrued Interest Balance | $ 641 | |||||||
Conversion Price | $ 0.0002 | |||||||
Quick Capital L L C [Member] | ||||||||
ConvertibleDebtLineItems [Line Items] | ||||||||
Interest Rate | 12% | |||||||
Default Rate | 12% | |||||||
Subtotal | $ 25,000 | |||||||
Total, Accrued Interest Balance | $ 641 | |||||||
Conversion Price | $ 0.0002 | |||||||
Robert Papiri [Member] | ||||||||
ConvertibleDebtLineItems [Line Items] | ||||||||
Interest Rate | 12% | |||||||
Default Rate | 12% | |||||||
Subtotal | $ 10,000 | |||||||
Total, Accrued Interest Balance | $ 253 | |||||||
Conversion Price | $ 0.0002 | |||||||
Robert Papiri One [Member] | ||||||||
ConvertibleDebtLineItems [Line Items] | ||||||||
Interest Rate | 12% | |||||||
Default Rate | 12% | |||||||
Subtotal | $ 2,500 | |||||||
Total, Accrued Interest Balance | $ 63 | |||||||
Conversion Price | $ 0.0002 | |||||||
RPG Capital Partners Inc [Member] | ||||||||
ConvertibleDebtLineItems [Line Items] | ||||||||
Interest Rate | 12% | |||||||
Default Rate | 12% | |||||||
Subtotal | $ 2,500 | |||||||
Total, Accrued Interest Balance | $ 63 | |||||||
Conversion Price | $ 0.0002 | |||||||
RPG Capital Partners Inc One [Member] | ||||||||
ConvertibleDebtLineItems [Line Items] | ||||||||
Interest Rate | 12% | |||||||
Default Rate | 12% | |||||||
Subtotal | $ 25 | |||||||
Total, Accrued Interest Balance | $ 469 | |||||||
Conversion Price | $ 0.0002 | |||||||
RPG Capital Partners Inc Two [Member] | ||||||||
ConvertibleDebtLineItems [Line Items] | ||||||||
Interest Rate | 12% | |||||||
Default Rate | 12% | |||||||
Subtotal | $ 15,000 | |||||||
Total, Accrued Interest Balance | $ 89 | |||||||
Conversion Price | $ 0.0002 | |||||||
TA Global [Member] | ||||||||
ConvertibleDebtLineItems [Line Items] | ||||||||
Interest Rate | 6% | |||||||
Default Rate | 18% | |||||||
Subtotal | 2,715,990 | |||||||
Total, Accrued Interest Balance | 2,298,634 | |||||||
Tangiers One [Member] | ||||||||
ConvertibleDebtLineItems [Line Items] | ||||||||
Interest Rate | 10% | |||||||
Default Rate | 20% | |||||||
Subtotal | 17,000 | |||||||
Total, Accrued Interest Balance | 22,547 | |||||||
Tangiers assigned from Zoom [Member] | ||||||||
ConvertibleDebtLineItems [Line Items] | ||||||||
Interest Rate | 10% | |||||||
Default Rate | 20% | |||||||
Subtotal | $ 75,000 | 75,000 | ||||||
Total, Accrued Interest Balance | $ 107,219 | 92,219 | ||||||
Tangiers Two [Member] | ||||||||
ConvertibleDebtLineItems [Line Items] | ||||||||
Interest Rate | 0% | |||||||
Default Rate | 15% | |||||||
Subtotal | $ 47,000 | 72,000 | ||||||
Total, Accrued Interest Balance | $ 62,892 | 61,264 | ||||||
Tangiers Three [Member] | ||||||||
ConvertibleDebtLineItems [Line Items] | ||||||||
Interest Rate | 0% | |||||||
Default Rate | 20% | |||||||
Subtotal | $ 10,000 | 10,000 | ||||||
Total, Accrued Interest Balance | $ 6,663 | 6,411 | ||||||
Conversion Price | $ 0.0001 | |||||||
Tangiers Four [Member] | ||||||||
ConvertibleDebtLineItems [Line Items] | ||||||||
Interest Rate | 10% | |||||||
Default Rate | 20% | |||||||
Subtotal | $ 30,910 | 30,910 | ||||||
Total, Accrued Interest Balance | $ 18,445 | 21,129 | ||||||
Conversion Price | $ 0.001 | |||||||
Tangiers Investment Group, LLC [Member] | ||||||||
ConvertibleDebtLineItems [Line Items] | ||||||||
Interest Rate | 10% | |||||||
Default Rate | 20% | |||||||
Subtotal | $ 105,000 | |||||||
Total, Accrued Interest Balance | $ 4,775 | |||||||
Conversion Price | $ 0.001 | $ 0.0002 | ||||||
Tangiers Investment Group Five [Member] | ||||||||
ConvertibleDebtLineItems [Line Items] | ||||||||
Interest Rate | 10% | |||||||
Default Rate | 20% | |||||||
Subtotal | $ 105,000 | |||||||
Total, Accrued Interest Balance | $ 3,279 | |||||||
Conversion Price | $ 0.001 | |||||||
RBB Capital LLC [Member] | ||||||||
ConvertibleDebtLineItems [Line Items] | ||||||||
Interest Rate | 8% | |||||||
Default Rate | 15% | |||||||
Subtotal | 7,683 | |||||||
Total, Accrued Interest Balance | 21,271 | |||||||
RBB Capital LLC One [Member] | ||||||||
ConvertibleDebtLineItems [Line Items] | ||||||||
Interest Rate | 8% | |||||||
Default Rate | 8% | |||||||
Subtotal | 202 | |||||||
Total, Accrued Interest Balance | $ 5,531 | |||||||
[1] Lesser of (a) $0.02 or (b) 50% of the lowest volume weighted average price during the 30-day trading period prior to conversion. Average of the five trading days prior to the applicable conversion date, with the number of conversion shares multiplied by 115%. 50% of the lesser of (i) the closing price on the day prior to conversion, or (ii) the volume-weighted-average closing price of the five-day trading period prior to conversion, though in no instance shall the conversion price be less than $0.0001. |
SCHEDULE OF CONVERTIBLE DEBT,_2
SCHEDULE OF CONVERTIBLE DEBT, NET (Details) (Parenthetical) | 1 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||||||||||||||||||
Aug. 08, 2021 | Oct. 11, 2016 | Feb. 05, 2016 | Mar. 12, 2015 | Jan. 07, 2015 | Dec. 10, 2014 | Apr. 08, 2014 | Apr. 03, 2014 | Apr. 02, 2014 | Mar. 27, 2014 | Mar. 11, 2014 | Feb. 21, 2014 | Nov. 13, 2013 | Aug. 03, 2012 | Feb. 12, 2012 | Oct. 05, 2011 | Jun. 29, 2011 | Jun. 02, 2011 | Apr. 02, 2011 | Mar. 21, 2011 | Jan. 28, 2011 | Jul. 26, 2010 | Jul. 22, 2005 | Jul. 08, 2003 | Jul. 19, 2021 | Jan. 30, 2017 | Aug. 23, 2013 | Mar. 25, 2013 | Sep. 30, 2022 | Dec. 31, 2021 | |
ConvertibleDebtLineItems [Line Items] | ||||||||||||||||||||||||||||||
Debt Conversion, Description | 45% of the lowest closing price during the 20-day trading period prior to, and including the date of, conversion. | |||||||||||||||||||||||||||||
Westmount Holdings International Ltd [Member] | ||||||||||||||||||||||||||||||
ConvertibleDebtLineItems [Line Items] | ||||||||||||||||||||||||||||||
Covenant description | (a) $0.02 or (b) 85% of the lowest closing price during the 30-day trading period prior to conversion. | |||||||||||||||||||||||||||||
Tangiers Investment Group LLC [Member] | ||||||||||||||||||||||||||||||
ConvertibleDebtLineItems [Line Items] | ||||||||||||||||||||||||||||||
Covenant description | 50% of the lowest closing price during the 20-day trading period prior to conversion. | |||||||||||||||||||||||||||||
Dakota [Member] | ||||||||||||||||||||||||||||||
ConvertibleDebtLineItems [Line Items] | ||||||||||||||||||||||||||||||
Covenant description | (a) $0.02 or (b) 50% of the lowest | |||||||||||||||||||||||||||||
Debt Instrument, Maturity Date | Dec. 31, 2014 | |||||||||||||||||||||||||||||
Debt Conversion, Description | (a) $0.02 or (b) 50% of the lowest closing price during the 30-day trading period prior to conversion | |||||||||||||||||||||||||||||
Raphael Cariou [Member] | ||||||||||||||||||||||||||||||
ConvertibleDebtLineItems [Line Items] | ||||||||||||||||||||||||||||||
Covenant description | 86.9565% of the average prices of the five trading days prior to the conversion date. | |||||||||||||||||||||||||||||
Debt Instrument, Maturity Date | Feb. 03, 2013 | |||||||||||||||||||||||||||||
Debt Conversion, Description | 86.9565% of the average prices of the five trading days prior to the conversion date. | |||||||||||||||||||||||||||||
Richard Wynns One [Member] | ||||||||||||||||||||||||||||||
ConvertibleDebtLineItems [Line Items] | ||||||||||||||||||||||||||||||
Covenant description | 75% of the average of the three lowest closing prices during the 10-day trading period prior to conversion. | |||||||||||||||||||||||||||||
Debt Instrument, Maturity Date | Dec. 31, 2011 | |||||||||||||||||||||||||||||
Debt Conversion, Description | 75% of the average of the three lowest closing prices during the 10-day trading period prior to conversion. | |||||||||||||||||||||||||||||
Barclay Lyons [Member] | ||||||||||||||||||||||||||||||
ConvertibleDebtLineItems [Line Items] | ||||||||||||||||||||||||||||||
Covenant description | 50% of the lesser of (i) the closing price on the day prior to conversion, or (ii) the volume-weighted-average closing price of the five-day trading period prior to conversion, though in no instance shall the conversion price be less than $0.0001. | |||||||||||||||||||||||||||||
Debt Instrument, Maturity Date | Jul. 28, 2011 | |||||||||||||||||||||||||||||
Debt Conversion, Description | 50% of the lesser of (i) the closing price on the day prior to conversion, or (ii) the volume-weighted-average closing price of the five-day trading period prior to conversion, though in no instance shall the conversion price be less than $0.0001. | |||||||||||||||||||||||||||||
Blackridge Capital LLC [Member] | ||||||||||||||||||||||||||||||
ConvertibleDebtLineItems [Line Items] | ||||||||||||||||||||||||||||||
Covenant description | Average of the five trading days prior to the applicable conversion date, with the number of conversion shares multiplied by 115%. | |||||||||||||||||||||||||||||
Debt Instrument, Maturity Date | Jul. 28, 2011 | |||||||||||||||||||||||||||||
Debt Conversion, Description | Average of the five trading days prior to the applicable conversion date, with the number of conversion shares multiplied by 115%. | |||||||||||||||||||||||||||||
Kelburgh, Ltd [Member] | ||||||||||||||||||||||||||||||
ConvertibleDebtLineItems [Line Items] | ||||||||||||||||||||||||||||||
Covenant description | 85% of the average of the five trading days prior to the applicable conversion date. | |||||||||||||||||||||||||||||
Debt Instrument, Maturity Date | Mar. 22, 2012 | |||||||||||||||||||||||||||||
Debt Conversion, Description | 85% of the average of the five trading days prior to the applicable conversion date. | |||||||||||||||||||||||||||||
Ags Capital Group LLC One [Member] | ||||||||||||||||||||||||||||||
ConvertibleDebtLineItems [Line Items] | ||||||||||||||||||||||||||||||
Covenant description | 35% of the lowest closing price during the 20-day trading period prior to conversion. | |||||||||||||||||||||||||||||
Debt Conversion, Description | 35% of the lowest closing price during the 20-day trading period prior to conversion. | |||||||||||||||||||||||||||||
Blackridge Capital LLC One [Member] | ||||||||||||||||||||||||||||||
ConvertibleDebtLineItems [Line Items] | ||||||||||||||||||||||||||||||
Covenant description | 60% of the lowest closing price during the 30-day trading period prior to conversion | |||||||||||||||||||||||||||||
Debt Instrument, Maturity Date | Sep. 21, 2014 | |||||||||||||||||||||||||||||
Debt Conversion, Description | 60% of the lowest closing price during the 30-day trading period prior to conversion | |||||||||||||||||||||||||||||
LG Capital Funding LLC Two [Member] | ||||||||||||||||||||||||||||||
ConvertibleDebtLineItems [Line Items] | ||||||||||||||||||||||||||||||
Covenant description | 50% of the lowest closing price during the 10-day trading period prior to, and including the date of, conversion | |||||||||||||||||||||||||||||
Debt Instrument, Maturity Date | Mar. 11, 2015 | |||||||||||||||||||||||||||||
Debt Conversion, Description | 50% of the lowest closing price during the 10-day trading period prior to, and including the date of, conversion | |||||||||||||||||||||||||||||
Jared Robert [Member] | ||||||||||||||||||||||||||||||
ConvertibleDebtLineItems [Line Items] | ||||||||||||||||||||||||||||||
Covenant description | 60% of the lowest closing price during the 20-day trading period prior to conversion, or $0.01, whichever is lower. | |||||||||||||||||||||||||||||
Debt Instrument, Maturity Date | Jun. 10, 2015 | |||||||||||||||||||||||||||||
Debt Conversion, Description | 60% of the lowest closing price during the 20-day trading period prior to conversion, or $0.01, whichever is lower. | |||||||||||||||||||||||||||||
Barry Liben [Member] | ||||||||||||||||||||||||||||||
ConvertibleDebtLineItems [Line Items] | ||||||||||||||||||||||||||||||
Covenant description | 50% of the average of the three lowest closing prices during the 30-day trading period prior to conversion, or $0.02, whichever is lower, with the conversion rate being rounded to $0.0001 or whole share. | |||||||||||||||||||||||||||||
Debt Instrument, Maturity Date | Dec. 31, 2014 | |||||||||||||||||||||||||||||
Debt Conversion, Description | 50% of the average of the three lowest closing prices during the 30-day trading period prior to conversion, or $0.02, whichever is lower, with the conversion rate being rounded to $0.0001 or whole share. | |||||||||||||||||||||||||||||
Julian Herskowitz [Member] | ||||||||||||||||||||||||||||||
ConvertibleDebtLineItems [Line Items] | ||||||||||||||||||||||||||||||
Covenant description | 65% of the lowest closing price during the 7-day trading period prior to conversion | |||||||||||||||||||||||||||||
Debt Conversion, Description | 65% of the lowest closing price during the 7-day trading period prior to conversion | |||||||||||||||||||||||||||||
TA Global [Member] | ||||||||||||||||||||||||||||||
ConvertibleDebtLineItems [Line Items] | ||||||||||||||||||||||||||||||
Debt Instrument, Maturity Date | Apr. 30, 2016 | |||||||||||||||||||||||||||||
Debt Conversion, Description | (a) $0.0003 or (b) 50% of the lowest closing price during the 20-day trading period prior to conversion | |||||||||||||||||||||||||||||
Tangiers One [Member] | ||||||||||||||||||||||||||||||
ConvertibleDebtLineItems [Line Items] | ||||||||||||||||||||||||||||||
Debt Instrument, Maturity Date | Mar. 27, 2015 | Nov. 13, 2014 | ||||||||||||||||||||||||||||
Tangiers Three [Member] | ||||||||||||||||||||||||||||||
ConvertibleDebtLineItems [Line Items] | ||||||||||||||||||||||||||||||
Debt Instrument, Maturity Date | Oct. 20, 2017 | |||||||||||||||||||||||||||||
Tangiers Four [Member] | ||||||||||||||||||||||||||||||
ConvertibleDebtLineItems [Line Items] | ||||||||||||||||||||||||||||||
Debt Instrument, Maturity Date | Jan. 30, 2018 | |||||||||||||||||||||||||||||
Tangiers Investment Group, LLC [Member] | ||||||||||||||||||||||||||||||
ConvertibleDebtLineItems [Line Items] | ||||||||||||||||||||||||||||||
Debt Instrument, Maturity Date | Sep. 08, 2022 | Jul. 19, 2022 | ||||||||||||||||||||||||||||
Debt Conversion, Description | 50% of the lowest closing price during the 20-day trading period prior to conversion. | |||||||||||||||||||||||||||||
Zoom Marketing [Member] | ||||||||||||||||||||||||||||||
ConvertibleDebtLineItems [Line Items] | ||||||||||||||||||||||||||||||
Debt Instrument, Maturity Date | Jan. 23, 2014 | |||||||||||||||||||||||||||||
Burlington Capital LLC [Member] | ||||||||||||||||||||||||||||||
ConvertibleDebtLineItems [Line Items] | ||||||||||||||||||||||||||||||
Debt Instrument, Maturity Date | Oct. 01, 2014 | |||||||||||||||||||||||||||||
Patrick Ferro [Member] | ||||||||||||||||||||||||||||||
ConvertibleDebtLineItems [Line Items] | ||||||||||||||||||||||||||||||
Debt Instrument, Maturity Date | Dec. 31, 2014 | |||||||||||||||||||||||||||||
Raphael Cariou One [Member] | ||||||||||||||||||||||||||||||
ConvertibleDebtLineItems [Line Items] | ||||||||||||||||||||||||||||||
Debt Instrument, Maturity Date | Sep. 12, 2015 | |||||||||||||||||||||||||||||
Raphael Cariou Two [Member] | ||||||||||||||||||||||||||||||
ConvertibleDebtLineItems [Line Items] | ||||||||||||||||||||||||||||||
Debt Instrument, Maturity Date | Sep. 12, 2015 | |||||||||||||||||||||||||||||
Redwood Management LLC [Member] | ||||||||||||||||||||||||||||||
ConvertibleDebtLineItems [Line Items] | ||||||||||||||||||||||||||||||
Debt Instrument, Maturity Date | Mar. 18, 2013 | |||||||||||||||||||||||||||||
Debt Conversion, Description | (a) $0.02 or (b) 85% of the lowest closing price during the 30-day trading period prior to conversion | |||||||||||||||||||||||||||||
Ags Capital Group LLC [Member] | ||||||||||||||||||||||||||||||
ConvertibleDebtLineItems [Line Items] | ||||||||||||||||||||||||||||||
Debt Instrument, Maturity Date | Feb. 25, 2014 | |||||||||||||||||||||||||||||
Tim Burgess [Member] | ||||||||||||||||||||||||||||||
ConvertibleDebtLineItems [Line Items] | ||||||||||||||||||||||||||||||
Debt Instrument, Maturity Date | Jan. 08, 2004 | |||||||||||||||||||||||||||||
Azriel Nagar [Member] | ||||||||||||||||||||||||||||||
ConvertibleDebtLineItems [Line Items] | ||||||||||||||||||||||||||||||
Debt Instrument, Maturity Date | Jan. 08, 2004 | |||||||||||||||||||||||||||||
Premier IT Solutions [Member] | ||||||||||||||||||||||||||||||
ConvertibleDebtLineItems [Line Items] | ||||||||||||||||||||||||||||||
Debt Instrument, Maturity Date | Mar. 05, 2012 | |||||||||||||||||||||||||||||
LG Capital Funding LLC [Member] | ||||||||||||||||||||||||||||||
ConvertibleDebtLineItems [Line Items] | ||||||||||||||||||||||||||||||
Debt Instrument, Maturity Date | Mar. 11, 2015 | |||||||||||||||||||||||||||||
LG Capital Funding LLC One [Member] | ||||||||||||||||||||||||||||||
ConvertibleDebtLineItems [Line Items] | ||||||||||||||||||||||||||||||
Debt Instrument, Maturity Date | Jan. 07, 2016 | |||||||||||||||||||||||||||||
RBB Capital LLC [Member] | ||||||||||||||||||||||||||||||
ConvertibleDebtLineItems [Line Items] | ||||||||||||||||||||||||||||||
Debt Instrument, Maturity Date | Jun. 01, 2012 | |||||||||||||||||||||||||||||
Debt Conversion, Description | 50% of the of the average of the three lowest closing prices during the 20-day trading period prior to conversion. | |||||||||||||||||||||||||||||
RBB Capital LLC One [Member] | ||||||||||||||||||||||||||||||
ConvertibleDebtLineItems [Line Items] | ||||||||||||||||||||||||||||||
Debt Instrument, Maturity Date | Jun. 29, 2012 | |||||||||||||||||||||||||||||
Debt Conversion, Description | 85% of the of the average of the three lowest closing prices during the 20-day trading period prior to conversion. | |||||||||||||||||||||||||||||
Richard Wynns [Member] | ||||||||||||||||||||||||||||||
ConvertibleDebtLineItems [Line Items] | ||||||||||||||||||||||||||||||
Debt Instrument, Maturity Date | Dec. 31, 2006 |
SCHEDULE OF NOTES PAYABLE (Deta
SCHEDULE OF NOTES PAYABLE (Details) - USD ($) | 1 Months Ended | 12 Months Ended | |||||||||||||
Aug. 16, 2022 | Jul. 03, 2018 | May 10, 2016 | Oct. 18, 2013 | Apr. 11, 2012 | Mar. 15, 2011 | Jun. 29, 2017 | Apr. 24, 2016 | Mar. 29, 2011 | Jul. 27, 2010 | Mar. 17, 2010 | Dec. 31, 2021 | Sep. 30, 2022 | Dec. 31, 2020 | ||
Short-Term Debt [Line Items] | |||||||||||||||
Principal Balance | $ 127,873 | $ 136,123 | |||||||||||||
Accrued Interest Balance | 578,661 | 491,362 | |||||||||||||
Note Payable 1 [Member] | |||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||
Principal Balance | 45,000 | 45,000 | |||||||||||||
Accrued Interest Balance | $ 106,155 | 98,055 | |||||||||||||
Debt Instrument, Issuance Date | Jun. 29, 2017 | ||||||||||||||
Note Payable 2 [Member] | |||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||
Principal Balance | $ 4,732 | 4,732 | |||||||||||||
Accrued Interest Balance | $ 28,739 | 26,770 | |||||||||||||
Debt Instrument, Issuance Date | Jul. 03, 2018 | ||||||||||||||
Note Payable 3 [Member] | |||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||
Principal Balance | $ 25,000 | 25,000 | |||||||||||||
Accrued Interest Balance | $ 240,877 | 190,908 | |||||||||||||
Debt Instrument, Issuance Date | Jul. 27, 2010 | ||||||||||||||
Note Payable 4 [Member] | |||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||
Principal Balance | $ 3,000 | 11,250 | |||||||||||||
Accrued Interest Balance | 8,545 | ||||||||||||||
Debt Instrument, Issuance Date | May 10, 2016 | ||||||||||||||
Note Payable 5 [Member] | |||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||
Principal Balance | $ 15,000 | 15,000 | |||||||||||||
Accrued Interest Balance | $ 46,922 | 42,574 | |||||||||||||
Debt Instrument, Issuance Date | Mar. 15, 2011 | ||||||||||||||
Note Payable 6 [Member] | |||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||
Principal Balance | $ 10,000 | 10,000 | |||||||||||||
Accrued Interest Balance | $ 104,704 | 83,146 | |||||||||||||
Debt Instrument, Issuance Date | Mar. 17, 2010 | ||||||||||||||
Note Payable 7 [Member] | |||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||
Principal Balance | $ 10,000 | 10,000 | |||||||||||||
Accrued Interest Balance | $ 8,257 | 7,246 | |||||||||||||
Debt Instrument, Issuance Date | Oct. 18, 2013 | ||||||||||||||
Note Payable 8 [Member] | |||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||
Principal Balance | $ 8,641 | 8,641 | |||||||||||||
Accrued Interest Balance | $ 2,483 | 2,046 | |||||||||||||
Debt Instrument, Issuance Date | Apr. 24, 2016 | ||||||||||||||
Note Payable 9 [Member] | |||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||
Principal Balance | $ 5,000 | 5,000 | |||||||||||||
Accrued Interest Balance | $ 39,572 | 31,195 | |||||||||||||
Debt Instrument, Issuance Date | Mar. 29, 2011 | ||||||||||||||
Note Payable 10 [Member] | |||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||
Principal Balance | $ 1,500 | ||||||||||||||
Accrued Interest Balance | $ 952 | $ 877 | |||||||||||||
Debt Instrument, Issuance Date | Apr. 11, 2012 | ||||||||||||||
Coroware, Inc. and Subsidiaries [Member] | |||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||
Principal Balance | $ 127,873 | $ 154,873 | |||||||||||||
Accrued Interest Balance | 578,661 | 659,232 | |||||||||||||
Coroware, Inc. and Subsidiaries [Member] | Gary Sumner [Member] | |||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||
Principal Balance | 45,000 | 45,000 | |||||||||||||
Accrued Interest Balance | 106,155 | 112,214 | |||||||||||||
Debt Instrument, Issuance Date | [1] | Jun. 29, 2017 | |||||||||||||
Coroware, Inc. and Subsidiaries [Member] | LTC International Corp [Member] | |||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||
Principal Balance | 4,732 | 4,732 | |||||||||||||
Accrued Interest Balance | 28,739 | 30,210 | |||||||||||||
Debt Instrument, Issuance Date | [1] | Jul. 03, 2018 | |||||||||||||
Coroware, Inc. and Subsidiaries [Member] | Richard Wynns [Member] | |||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||
Principal Balance | 25,000 | 25,000 | |||||||||||||
Accrued Interest Balance | 240,877 | 283,815 | |||||||||||||
Debt Instrument, Issuance Date | [1] | Jul. 27, 2010 | |||||||||||||
Coroware, Inc. and Subsidiaries [Member] | William Rittman [Member] | |||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||
Principal Balance | 3,000 | ||||||||||||||
Accrued Interest Balance | |||||||||||||||
Debt Instrument, Issuance Date | [1] | May 10, 2016 | |||||||||||||
Coroware, Inc. and Subsidiaries [Member] | Barclay Lyons [Member] | |||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||
Principal Balance | 15,000 | 15,000 | |||||||||||||
Accrued Interest Balance | 46,922 | 50,175 | |||||||||||||
Debt Instrument, Issuance Date | [1] | Mar. 15, 2011 | |||||||||||||
Coroware, Inc. and Subsidiaries [Member] | John Kroon [Member] | |||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||
Principal Balance | 10,000 | 10,000 | |||||||||||||
Accrued Interest Balance | 104,704 | 123,228 | |||||||||||||
Debt Instrument, Issuance Date | [1] | Mar. 17, 2010 | |||||||||||||
Coroware, Inc. and Subsidiaries [Member] | Walter Jay Bell [Member] | |||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||
Principal Balance | 10,000 | 10,000 | |||||||||||||
Accrued Interest Balance | 8,257 | 9,005 | |||||||||||||
Debt Instrument, Issuance Date | [1] | Oct. 18, 2013 | |||||||||||||
Coroware, Inc. and Subsidiaries [Member] | Bell [Member] | |||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||
Principal Balance | 8,641 | 8,641 | |||||||||||||
Accrued Interest Balance | 2,483 | 2,806 | |||||||||||||
Debt Instrument, Issuance Date | [1] | Apr. 24, 2016 | |||||||||||||
Coroware, Inc. and Subsidiaries [Member] | George Ferch [Member] | |||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||
Principal Balance | 5,000 | 5,000 | |||||||||||||
Accrued Interest Balance | 39,572 | 46,771 | |||||||||||||
Debt Instrument, Issuance Date | [1] | Mar. 29, 2011 | |||||||||||||
Coroware, Inc. and Subsidiaries [Member] | Blackbridge [Member] | |||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||
Principal Balance | 1,500 | 1,500 | |||||||||||||
Accrued Interest Balance | 952 | 1,008 | |||||||||||||
Debt Instrument, Issuance Date | [1] | Apr. 11, 2012 | |||||||||||||
Coroware, Inc. and Subsidiaries [Member] | Michael Sobeck [Member] | |||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||
Principal Balance | 30,000 | ||||||||||||||
Accrued Interest Balance | |||||||||||||||
Debt Instrument, Issuance Date | [1] | Aug. 16, 2022 | |||||||||||||
[1]Unless otherwise noted, interest is simple interest. |
SCHEDULE OF NOTES PAYABLE (De_2
SCHEDULE OF NOTES PAYABLE (Details) (Parenthetical) | 1 Months Ended | 12 Months Ended | |||||||||||||||||
Aug. 16, 2022 | Jul. 03, 2018 | May 10, 2016 | Oct. 18, 2013 | Apr. 11, 2012 | Mar. 15, 2011 | Jan. 28, 2011 | Jul. 27, 2010 | Mar. 17, 2010 | Jul. 22, 2005 | Jun. 29, 2017 | Apr. 24, 2016 | Mar. 29, 2011 | Jul. 27, 2010 | Mar. 17, 2010 | Dec. 31, 2021 | Sep. 30, 2022 | |||
Gary Sumner [Member] | Coroware, Inc. and Subsidiaries [Member] | |||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||
Issuance date | [1] | Jun. 29, 2017 | |||||||||||||||||
Interest rate | [1] | 5% | |||||||||||||||||
Interest rate percentage | [1] | 18% | |||||||||||||||||
Maturity date | [1] | Mar. 31, 2018 | |||||||||||||||||
LTC International Corp [Member] | Coroware, Inc. and Subsidiaries [Member] | |||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||
Issuance date | [1] | Jul. 03, 2018 | |||||||||||||||||
Interest rate | [1] | 20.80% | |||||||||||||||||
Interest rate percentage | [1] | 41.60% | |||||||||||||||||
Maturity date | [1] | Dec. 17, 2018 | |||||||||||||||||
Richard Wynns [Member] | |||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||
Interest rate | 5% | 5% | |||||||||||||||||
Maturity date | Dec. 31, 2006 | ||||||||||||||||||
Richard Wynns [Member] | Coroware, Inc. and Subsidiaries [Member] | |||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||
Issuance date | [1] | Jul. 27, 2010 | |||||||||||||||||
Interest rate | [1] | 18% | 18% | ||||||||||||||||
Interest rate percentage | [1] | 21% | |||||||||||||||||
Maturity date | [1] | Jan. 23, 2011 | |||||||||||||||||
William Rittman [Member] | Coroware, Inc. and Subsidiaries [Member] | |||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||
Issuance date | [1] | May 10, 2016 | |||||||||||||||||
Interest rate percentage | [1] | 16% | |||||||||||||||||
Maturity date | [1] | Aug. 29, 2016 | |||||||||||||||||
Barclay Lyons [Member] | |||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||
Interest rate | 21% | 21% | [2] | ||||||||||||||||
Maturity date | Jul. 28, 2011 | ||||||||||||||||||
Barclay Lyons [Member] | Coroware, Inc. and Subsidiaries [Member] | |||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||
Issuance date | [1] | Mar. 15, 2011 | |||||||||||||||||
Interest rate | [1] | 18.99% | |||||||||||||||||
Interest rate percentage | [1] | 28.99% | 21% | ||||||||||||||||
Maturity date | [1] | Mar. 25, 2011 | |||||||||||||||||
John Kroon [Member] | Coroware, Inc. and Subsidiaries [Member] | |||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||
Issuance date | [1] | Mar. 17, 2010 | |||||||||||||||||
Interest rate | [1] | 18% | 18% | ||||||||||||||||
Maturity date | [1] | Sep. 13, 2010 | |||||||||||||||||
Walter Jay Bell [Member] | Coroware, Inc. and Subsidiaries [Member] | |||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||
Issuance date | [1] | Oct. 18, 2013 | |||||||||||||||||
Interest rate percentage | [1] | 10% | |||||||||||||||||
Maturity date | [1] | Nov. 29, 2013 | |||||||||||||||||
Bell [Member] | Coroware, Inc. and Subsidiaries [Member] | |||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||
Issuance date | [1] | Apr. 24, 2016 | |||||||||||||||||
Interest rate percentage | [1] | 10% | |||||||||||||||||
Maturity date | [1] | Sep. 30, 2016 | |||||||||||||||||
George Ferch [Member] | Coroware, Inc. and Subsidiaries [Member] | |||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||
Issuance date | [1] | Mar. 29, 2011 | |||||||||||||||||
Interest rate | [1] | 0% | |||||||||||||||||
Interest rate percentage | [1] | 21% | |||||||||||||||||
Maturity date | Jun. 27, 2011 | ||||||||||||||||||
Blackbridge [Member] | Coroware, Inc. and Subsidiaries [Member] | |||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||
Issuance date | [1] | Apr. 11, 2012 | |||||||||||||||||
Interest rate | [1] | 5% | |||||||||||||||||
Interest rate percentage | [1] | 5% | |||||||||||||||||
Maturity date | [1] | May 25, 2012 | |||||||||||||||||
Michael Sobeck [Member] | Coroware, Inc. and Subsidiaries [Member] | |||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||
Issuance date | [1] | Aug. 16, 2022 | |||||||||||||||||
Interest rate percentage | [1] | 12% | |||||||||||||||||
Note Payable 1 [Member] | |||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||
Issuance date | Jun. 29, 2017 | ||||||||||||||||||
Interest rate | 5% | ||||||||||||||||||
Interest rate percentage | 18% | ||||||||||||||||||
Maturity date | Mar. 31, 2018 | ||||||||||||||||||
Note Payable 2 [Member] | |||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||
Issuance date | Jul. 03, 2018 | ||||||||||||||||||
Interest rate | 20.80% | ||||||||||||||||||
Interest rate percentage | 41.60% | ||||||||||||||||||
Maturity date | Dec. 17, 2018 | ||||||||||||||||||
Note Payable 3 [Member] | |||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||
Issuance date | Jul. 27, 2010 | ||||||||||||||||||
Interest rate | 18% | ||||||||||||||||||
Interest rate percentage | 21% | ||||||||||||||||||
Maturity date | Jan. 23, 2011 | ||||||||||||||||||
Note Payable 4 [Member] | |||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||
Issuance date | May 10, 2016 | ||||||||||||||||||
Interest rate | 16% | ||||||||||||||||||
Maturity date | Aug. 29, 2016 | ||||||||||||||||||
Note Payable 5 [Member] | |||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||
Issuance date | Mar. 15, 2011 | ||||||||||||||||||
Interest rate | 18.99% | ||||||||||||||||||
Interest rate percentage | 28.99% | ||||||||||||||||||
Maturity date | Mar. 25, 2011 | ||||||||||||||||||
Note Payable 6 [Member] | |||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||
Issuance date | Mar. 17, 2010 | ||||||||||||||||||
Interest rate | 18% | ||||||||||||||||||
Interest rate percentage | 21% | ||||||||||||||||||
Maturity date | Sep. 13, 2010 | ||||||||||||||||||
Note Payable 7 [Member] | |||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||
Issuance date | Oct. 18, 2013 | ||||||||||||||||||
Interest rate percentage | 10% | ||||||||||||||||||
Maturity date | Nov. 29, 2013 | ||||||||||||||||||
Note Payable 8 [Member] | |||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||
Issuance date | Apr. 24, 2016 | ||||||||||||||||||
Interest rate percentage | 10% | ||||||||||||||||||
Maturity date | Jun. 30, 2016 | ||||||||||||||||||
Note Payable 9 [Member] | |||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||
Issuance date | Mar. 29, 2011 | ||||||||||||||||||
Interest rate | 21% | ||||||||||||||||||
Interest rate percentage | 0% | ||||||||||||||||||
Maturity date | Jun. 27, 2011 | ||||||||||||||||||
Note Payable 10 [Member] | |||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||
Issuance date | Apr. 11, 2012 | ||||||||||||||||||
Interest rate | 5% | ||||||||||||||||||
Interest rate percentage | 5% | ||||||||||||||||||
Maturity date | May 25, 2012 | ||||||||||||||||||
[1]Unless otherwise noted, interest is simple interest.[2] Average of the five trading days prior to the applicable conversion date, with the number of conversion shares multiplied by 115%. |
NOTES PAYABLE, RELATED PARTIES
NOTES PAYABLE, RELATED PARTIES (Details Narrative) - USD ($) | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Notes Payable, Related Parties, Noncurrent | $ 199,415 | $ 199,415 | |
Interest Payable, Current | 458,072 | 426,110 | $ 390,342 |
Notes Payable, Related Parties, Current | $ 199,415 | $ 199,415 | $ 157,854 |
Minimum [Member] | |||
Related Party Transaction, Rate | 10% | 10% | |
Default simple interest rate | 10% | 10% | |
Maximum [Member] | |||
Related Party Transaction, Rate | 18% | 18% | |
Default simple interest rate | 24% | 24% |
SMALL BUSINESS ADMINISTRATION_2
SMALL BUSINESS ADMINISTRATION LOAN (Details Narrative) - USD ($) | 1 Months Ended | 12 Months Ended | ||
Apr. 17, 2002 | Dec. 31, 2021 | Dec. 31, 2020 | Sep. 30, 2022 | |
Small Business Administration Loan | ||||
Proceeds from issuance of secured debt | $ 989,100 | $ 4,803 | ||
Debt, weighted average interest rate | 4% | |||
Debt instrument, face amount | 979,950 | 979,950 | $ 979,950 | |
Debt instrument, periodic payment | $ 4,813 | |||
Payment reverting back per month | 500 | |||
Debt instrument payment reverting | $ 4,813 | |||
Accrued interest and penalties on note | $ 693,299 | $ 654,101 | $ 722,617 |
SUMMARY OF DERIVATIVE LIABILITI
SUMMARY OF DERIVATIVE LIABILITIES (Details) | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Measurement Input, Risk Free Interest Rate [Member] | |||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||
Expected price volatility | 0.73 | ||
Measurement Input, Risk Free Interest Rate [Member] | Minimum [Member] | |||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||
Expected price volatility | 2.86 | 0.13 | |
Measurement Input, Risk Free Interest Rate [Member] | Maximum [Member] | |||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||
Expected price volatility | 4.23 | 0.73 | 0.36 |
Measurement Input, Expected Term [Member] | |||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||
Expected options life | 730 days | ||
Measurement Input, Expected Term [Member] | Minimum [Member] | |||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||
Expected options life | 1 year | 1 year | 1 year |
Measurement Input, Expected Term [Member] | Maximum [Member] | |||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||
Expected options life | 3 years | 2 years | 3 years |
Measurement Input, Expected Dividend Rate [Member] | |||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||
Expected price volatility | |||
Measurement Input, Price Volatility [Member] | |||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||
Expected price volatility | 355.59 | 341.14 | 693 |
DERIVATIVE LIABILITIES (Details
DERIVATIVE LIABILITIES (Details Narrative) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Increase (Decrease) in Derivative Liabilities | $ 18,612,166 | $ 11,904,070 | |||||
Derivative, Gain (Loss) on Derivative, Net | $ 6,837,508 | $ 51,922,621 | $ 981,881 | 2,561,820 | 9,809,916 | $ (10,401,881) | |
Derivative Liability, Current | 10,918,883 | 10,918,883 | 11,904,070 | 21,713,986 | $ 11,312,105 | ||
Derivative, Gain (Loss) on Derivative, Net | $ (6,837,508) | $ (51,922,621) | (981,881) | (2,561,820) | $ (9,809,916) | 10,401,881 | |
Black Scholes [Member] | |||||||
Derivative, Gain (Loss) on Derivative, Net | 981,881 | 2,561,820 | |||||
Derivative, Gain (Loss) on Derivative, Net | (981,881) | $ (2,561,820) | |||||
Maximum [Member] | |||||||
Increase (Decrease) in Derivative Liabilities | $ 10,918,883 | ||||||
Minimum [Member] | |||||||
Increase (Decrease) in Derivative Liabilities | $ 21,713,986 |
PREFERRED STOCK (Details Narrat
PREFERRED STOCK (Details Narrative) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | Dec. 31, 2021 | Dec. 31, 2020 | |
Class of Stock [Line Items] | ||||||
Preferred stock, dividend rate, percentage | 5% | |||||
Derivative income (expense) | $ 6,837,508 | $ 51,922,621 | $ 981,881 | $ 2,561,820 | $ 9,809,916 | $ (10,401,881) |
Derivative, Gain (Loss) on Derivative, Net | $ (6,837,508) | (51,922,621) | $ (981,881) | (2,561,820) | $ (9,809,916) | $ 10,401,881 |
Series A Preferred Stock [Member] | ||||||
Class of Stock [Line Items] | ||||||
Preferred stock, shares authorized | 125,000 | 125,000 | 125,000 | |||
Preferred stock, dividend rate, percentage | 5% | 5% | ||||
Sale of stock, price per share | $ 3 | $ 3 | $ 3,000 | |||
Preferred stock, liquidation preference per share | $ 1 | $ 1 | $ 1 | |||
Preferred stock redeemable period | 5 years | 5 years | ||||
Preferred stock, per share amounts of preferred dividends in arrears | $ 1.30 | $ 1.30 | ||||
Preferred stock, shares outstanding | 0 | 0 | 0 | 0 | ||
Stockholders' Equity, Reverse Stock Split | November 20, 2006 1 for 10, the April 8, 2009 1 for 300 and the July 12, 2012 1 for 200 reverse stock splits | |||||
Series B Preferred Stock [Member] | ||||||
Class of Stock [Line Items] | ||||||
Preferred stock, shares authorized | 525,000 | 525,000 | 525,000 | |||
Preferred stock, dividend rate, percentage | 5% | 5% | ||||
Sale of stock, price per share | $ 3,000 | $ 3,000 | $ 3,000 | |||
Preferred stock, liquidation preference per share | $ 1 | $ 1 | $ 1 | |||
Preferred stock redeemable period | 5 years | 5 years | ||||
Preferred stock, per share amounts of preferred dividends in arrears | $ 1.30 | |||||
Preferred stock, shares outstanding | 159,666 | 159,666 | 159,666 | 159,666 | ||
Share price | $ 1.30 | $ 1.30 | ||||
Derivative Liability | $ 173,767 | $ 173,767 | $ 177,743 | $ 425,776 | ||
Derivative income (expense) | 80,910 | 3,976 | 62,283 | 204,754 | ||
Derivative, Gain (Loss) on Derivative, Net | $ (80,910) | (3,976) | $ (62,283) | (204,754) | ||
Stockholders' Equity, Reverse Stock Split | November 20, 2006 1 for 10, the April 8, 2009 1 for 300 and the July 12, 2012 1 for 200 reverse stock splits | |||||
Derivative, Gain on Derivative | $ 248,033 | $ 212,888 | ||||
Series C Preferred Stock [Member] | ||||||
Class of Stock [Line Items] | ||||||
Preferred stock, shares authorized | 500,000 | 500,000 | 500,000 | |||
Sale of stock, price per share | $ 0.04 | |||||
Preferred stock, liquidation preference per share | $ 1 | $ 1 | $ 1 | |||
Preferred stock redeemable period | 5 years | 5 years | ||||
Preferred stock, per share amounts of preferred dividends in arrears | $ 3,600 | $ 0.06 | ||||
Preferred stock, shares outstanding | 0 | 0 | 0 | 0 | ||
Conversion price per share, percentage | 85% | 85% | ||||
Stock and Warrants Issued During Period, Value, Preferred Stock and Warrants | $ 2,400 | |||||
Series D Preferred Stock [Member] | ||||||
Class of Stock [Line Items] | ||||||
Preferred stock, shares authorized | 500,000 | 500,000 | 500,000 | |||
Preferred stock, liquidation preference per share | $ 1 | $ 1 | $ 1 | |||
Preferred stock, shares outstanding | 100,000 | 100,000 | 100,000 | 100,000 | ||
Derivative Liability | $ 298,772 | $ 298,772 | $ 396,956 | $ 200,000 | ||
Derivative income (expense) | $ 96,167 | 98,184 | $ 1,198,296 | 593,737 | $ 196,956 | 100,000 |
Conversion price per share, percentage | 85% | 85% | ||||
Preferred Stock, Par or Stated Value Per Share | $ 0.001 | $ 0.001 | $ 0.001 | |||
Preferred Stock, Voting Rights | Each share of the Series D Preferred Stock shall have voting rights equal to 100,000 votes of common stock. | Each share of the Series D Preferred Stock shall have voting rights equal to 100,000 votes of common stock | ||||
Derivative, Gain (Loss) on Derivative, Net | $ (96,167) | (98,184) | $ (1,198,296) | (593,737) | $ (196,956) | $ (100,000) |
Series E Preferred Stock [Member] | ||||||
Class of Stock [Line Items] | ||||||
Preferred stock, shares authorized | 1,000,000 | 1,000,000 | 1,000,000 | |||
Preferred stock, shares outstanding | 821,377 | 821,377 | 791,567 | 791,567 | ||
Derivative Liability | $ 2,454,045 | $ 2,454,045 | $ 2,469,349 | $ 1,388,822 | ||
Derivative income (expense) | $ 672,158 | 15,304 | $ 8,031,224 | 3,692,330 | $ 1,080,527 | 622,071 |
Conversion price per share, percentage | 50% | |||||
Preferred Stock, Par or Stated Value Per Share | $ 0.001 | $ 0.001 | $ 0.001 | |||
Derivative, Gain (Loss) on Derivative, Net | $ (672,158) | (15,304) | $ (8,031,224) | (3,692,330) | $ (1,080,527) | $ (622,071) |
Series F Preferred Stock [Member] | ||||||
Class of Stock [Line Items] | ||||||
Preferred stock, shares authorized | 500,000 | 500,000 | 500,000 | |||
Preferred stock, liquidation preference per share | $ 1 | $ 1 | $ 1 | |||
Preferred stock, shares outstanding | 190,000 | 190,000 | 180,000 | 180,000 | ||
Derivative Liability | $ 567,667 | $ 567,667 | $ 754,217 | $ 380,000 | ||
Derivative income (expense) | $ 143,222 | 186,550 | $ 2,276,763 | (1,128,099) | $ 374,217 | 190,000 |
Conversion price per share, percentage | 130% | 130% | ||||
Preferred Stock, Par or Stated Value Per Share | $ 0.001 | $ 0.001 | $ 0.001 | |||
Derivative, Gain (Loss) on Derivative, Net | $ (143,222) | (186,550) | $ (2,276,763) | 1,128,099 | $ (374,217) | $ (190,000) |
Series G Preferred Stock [Member] | ||||||
Class of Stock [Line Items] | ||||||
Preferred stock, shares authorized | 500,000 | 500,000 | 500,000 | |||
Preferred stock, liquidation preference per share | $ 1 | $ 1 | $ 1 | |||
Preferred stock, shares outstanding | 25,000 | 25,000 | 25,000 | 25,000 | ||
Derivative Liability | $ 74,693 | $ 74,693 | $ 99,239 | $ 50,000 | ||
Derivative income (expense) | $ 24,042 | 24,546 | $ 299,566 | (148,434) | $ 49,239 | 25,000 |
Conversion price per share, percentage | 85% | 85% | ||||
Preferred Stock, Par or Stated Value Per Share | $ 0.001 | $ 0.001 | $ 0.001 | |||
Preferred Stock, Voting Rights | voting rights equal to 5,000,000 votes of common stock | voting rights equal to 5,000,000 votes of common stock | ||||
Derivative, Gain (Loss) on Derivative, Net | $ (24,042) | $ (24,546) | $ (299,566) | $ 148,434 | $ (49,239) | $ (25,000) |
COMMON STOCK AND TREASURY STO_2
COMMON STOCK AND TREASURY STOCK (Details Narrative) - USD ($) | 3 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||
Sep. 12, 2022 | Aug. 04, 2022 | Jul. 14, 2022 | May 10, 2022 | Apr. 04, 2022 | Mar. 21, 2022 | Mar. 07, 2022 | Feb. 17, 2022 | Feb. 14, 2022 | Jan. 21, 2022 | Nov. 12, 2021 | Nov. 10, 2021 | Nov. 04, 2021 | Oct. 22, 2021 | Oct. 21, 2021 | Oct. 13, 2021 | Oct. 07, 2021 | Sep. 27, 2021 | Sep. 24, 2021 | Sep. 14, 2021 | Aug. 10, 2021 | Jun. 04, 2021 | May 28, 2021 | Mar. 09, 2021 | Jun. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2021 | Dec. 31, 2021 | Sep. 30, 2022 | Dec. 31, 2020 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||||||||||||||||||||||||||
Common Stock, Shares Authorized | 35,000,000,000 | 35,000,000,000 | 35,000,000,000 | |||||||||||||||||||||||||||
Common Stock, Par or Stated Value Per Share | $ 0.0001 | $ 0.0001 | ||||||||||||||||||||||||||||
Common Stock, Shares, Outstanding | 17,403,876,165 | 18,589,705,254 | 13,513,561,065 | |||||||||||||||||||||||||||
Number shares issued for common stock | 100,000,000 | 100,000,000 | 200,000,000 | 120,000,000 | 200,000,000 | |||||||||||||||||||||||||
Issued value | $ 40,032 | $ 5,257,524 | ||||||||||||||||||||||||||||
Convertible Debt | $ 33,056 | |||||||||||||||||||||||||||||
Stock Issued During Period, Value, Issued for Services | $ 7,500,000,000 | $ 7,000 | $ 73,000 | |||||||||||||||||||||||||||
Conversions of various notes payable | $ 137,500 | $ 137,500 | $ 200,000 | $ 200,000 | $ 25,000 | $ 25,000 | ||||||||||||||||||||||||
Debt Conversion, Converted Instrument, Shares Issued | 458,333,335 | 458,333,333 | 666,666,666 | 666,666,666 | 250,000,000 | 250,000,000 | ||||||||||||||||||||||||
Shares Issued, Price Per Share | $ 0.0005 | $ 0.0005 | $ 0.0005 | $ 0.0005 | $ 0.0005 | |||||||||||||||||||||||||
Note One [Member] | ||||||||||||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||||||||||||||||||||||||||
Conversions of various notes payable | $ 17,000 | |||||||||||||||||||||||||||||
Note Two [Member] | ||||||||||||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||||||||||||||||||||||||||
Conversions of various notes payable | 23,032 | |||||||||||||||||||||||||||||
Treasury Stock [Member] | ||||||||||||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||||||||||||||||||||||||||
Treasury stock shares | 188,181,000 | 188,181,000 | 188,181,000 | |||||||||||||||||||||||||||
Carbon Meta Research Ltd [Member] | ||||||||||||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||||||||||||||||||||||||||
Number of shares issued for common stock, as compensation, shares | 90,000,000 | |||||||||||||||||||||||||||||
Tangiers Investment Group LLC [Member] | ||||||||||||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||||||||||||||||||||||||||
Shares issued | 27,500,000 | |||||||||||||||||||||||||||||
Issued value | $ 55,000 | |||||||||||||||||||||||||||||
Mac Rab LLC [Member] | ||||||||||||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||||||||||||||||||||||||||
Shares issued | 16,527,775 | |||||||||||||||||||||||||||||
BHP Capital NY [Member] | ||||||||||||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||||||||||||||||||||||||||
Shares issued | 25,000,000 | |||||||||||||||||||||||||||||
Issued value | $ 25,000 | |||||||||||||||||||||||||||||
Quick Capital L L C [Member] | ||||||||||||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||||||||||||||||||||||||||
Shares issued | 25,000,000 | |||||||||||||||||||||||||||||
Issued value | $ 25,000 | |||||||||||||||||||||||||||||
RPG Capital Partners Inc [Member] | ||||||||||||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||||||||||||||||||||||||||
Shares issued | 15,000,000 | 25,000,000 | ||||||||||||||||||||||||||||
Issued value | $ 15,000 | $ 25,000 | ||||||||||||||||||||||||||||
Lloyd Spencer [Member] | ||||||||||||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||||||||||||||||||||||||||
Number of shares issued for common stock, as compensation, shares | 30,000,000 | 428,571,428 | ||||||||||||||||||||||||||||
Number of shares issued for common stock, as compensation | $ 150,000 | |||||||||||||||||||||||||||||
Shares issued | 33,000,000 | |||||||||||||||||||||||||||||
Issued value | $ 66,000 | |||||||||||||||||||||||||||||
Stock Issued During Period, Value, Issued for Services | $ 7,500,000,000 | |||||||||||||||||||||||||||||
Accrued Salaries | $ 750,000 | |||||||||||||||||||||||||||||
Other Individual One [Member] | Carbon Meta Research Ltd [Member] | ||||||||||||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||||||||||||||||||||||||||
Number of shares issued for common stock, as compensation, shares | 30,000,000 | |||||||||||||||||||||||||||||
Other Individual Two [Member] | Carbon Meta Research Ltd [Member] | ||||||||||||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||||||||||||||||||||||||||
Number of shares issued for common stock, as compensation, shares | 30,000,000 | |||||||||||||||||||||||||||||
Other Individual Three [Member] | Carbon Meta Research Ltd [Member] | ||||||||||||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||||||||||||||||||||||||||
Number of shares issued for common stock, as compensation, shares | 30,000,000 | |||||||||||||||||||||||||||||
Bill Elder [Member] | ||||||||||||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||||||||||||||||||||||||||
Stock Issued During Period, Shares, Issued for Services | 20,000,000 | |||||||||||||||||||||||||||||
Mutual Release and Settlement Agreement With Y.A Global Investment LP [Member] | ||||||||||||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||||||||||||||||||||||||||
Number shares issued for common stock | 206,896,552 | |||||||||||||||||||||||||||||
Production Agreement [Member] | ||||||||||||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||||||||||||||||||||||||||
Number shares issued for common stock | 83,333,334 | |||||||||||||||||||||||||||||
License Agreements [Member] | ||||||||||||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||||||||||||||||||||||||||
Number shares issued for common stock | 160,000,000 | |||||||||||||||||||||||||||||
Common Stock [Member] | ||||||||||||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||||||||||||||||||||||||||
Common Stock, Shares, Outstanding | 17,403,876,165 | 18,589,705,254 | ||||||||||||||||||||||||||||
Number shares issued for common stock | 20,000,000 | 740,000,000 | ||||||||||||||||||||||||||||
Shares issued | 400,315,100 | 3,150,315,100 | ||||||||||||||||||||||||||||
Issued value | $ 40,032 | $ 315,032 | ||||||||||||||||||||||||||||
Stock Issued During Period, Shares, Issued for Services | 20,000,000 | 203,333,334 | ||||||||||||||||||||||||||||
Stock Issued During Period, Value, Issued for Services | $ 400,315,100 | $ 2,000 | $ 20,333 | |||||||||||||||||||||||||||
Shares Issued, Price Per Share | $ 0.0005 | |||||||||||||||||||||||||||||
Maximum [Member] | ||||||||||||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||||||||||||||||||||||||||
Common Stock, Shares Authorized | 35,000,000,000 |
SCHEDULE OF WARRANTS_OPTIONS IS
SCHEDULE OF WARRANTS/OPTIONS ISSUED (Details) | 9 Months Ended | |
Sep. 30, 2022 $ / shares shares | ||
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | ||
Shares upon issuance of warrant or options | 1,146,000,000 | [1] |
Tangiers Investment Group LLC [Member] | ||
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | ||
[custom:SharebasedCompensationArrangementBySharebasedPaymentAwardWarrantAndOptionsDateOfIssuance] | Mar. 21, 2022 | [2] |
Shares upon issuance of warrant or options | 125,000,000 | [2] |
Exercise price | $ / shares | $ 0.0004 | [2] |
[custom:SharebasedCompensationArrangementBySharebasedPaymentAwardWarrantAndOptionsExpirationDate] | Mar. 21, 2027 | [2] |
JH Darbie and Company [Member] | ||
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | ||
[custom:SharebasedCompensationArrangementBySharebasedPaymentAwardWarrantAndOptionsDateOfIssuance] | Mar. 28, 2022 | [3] |
Shares upon issuance of warrant or options | 19,125,000 | [3] |
Exercise price | $ / shares | $ 0.0004 | [3] |
[custom:SharebasedCompensationArrangementBySharebasedPaymentAwardWarrantAndOptionsExpirationDate] | Mar. 28, 2027 | [3] |
MacRab LLC [Member] | ||
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | ||
[custom:SharebasedCompensationArrangementBySharebasedPaymentAwardWarrantAndOptionsDateOfIssuance] | Apr. 14, 2022 | [4] |
Shares upon issuance of warrant or options | 500,000,000 | [4] |
Exercise price | $ / shares | $ 0.0004 | [4] |
[custom:SharebasedCompensationArrangementBySharebasedPaymentAwardWarrantAndOptionsExpirationDate] | Apr. 14, 2027 | [4] |
Mac Rab LLR Two [Member] | ||
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | ||
[custom:SharebasedCompensationArrangementBySharebasedPaymentAwardWarrantAndOptionsDateOfIssuance] | May 10, 2022 | [5] |
Shares upon issuance of warrant or options | 74,375,000 | [5] |
Exercise price | $ / shares | $ 0.0004 | [5] |
[custom:SharebasedCompensationArrangementBySharebasedPaymentAwardWarrantAndOptionsExpirationDate] | May 10, 2027 | [5] |
B H P Capital N Y Inc [Member] | ||
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | ||
[custom:SharebasedCompensationArrangementBySharebasedPaymentAwardWarrantAndOptionsDateOfIssuance] | Jul. 14, 2022 | [6] |
Shares upon issuance of warrant or options | 62,500,000 | [6] |
Exercise price | $ / shares | $ 0.0004 | [6] |
[custom:SharebasedCompensationArrangementBySharebasedPaymentAwardWarrantAndOptionsExpirationDate] | Jul. 14, 2027 | [6] |
Quick Capital L L C [Member] | ||
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | ||
[custom:SharebasedCompensationArrangementBySharebasedPaymentAwardWarrantAndOptionsDateOfIssuance] | Jul. 14, 2022 | [7] |
Shares upon issuance of warrant or options | 62,500,000 | [7] |
Exercise price | $ / shares | $ 0.0004 | [7] |
[custom:SharebasedCompensationArrangementBySharebasedPaymentAwardWarrantAndOptionsExpirationDate] | Jul. 14, 2027 | [7] |
Robert Papiri [Member] | ||
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | ||
[custom:SharebasedCompensationArrangementBySharebasedPaymentAwardWarrantAndOptionsDateOfIssuance] | Jul. 15, 2022 | [8] |
Shares upon issuance of warrant or options | 25,000,000 | [8] |
Exercise price | $ / shares | $ 0.0004 | [8] |
[custom:SharebasedCompensationArrangementBySharebasedPaymentAwardWarrantAndOptionsExpirationDate] | Jul. 15, 2027 | [8] |
Robert Papiri One [Member] | ||
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | ||
[custom:SharebasedCompensationArrangementBySharebasedPaymentAwardWarrantAndOptionsDateOfIssuance] | Jul. 15, 2022 | [9] |
Shares upon issuance of warrant or options | 6,250,000 | [9] |
Exercise price | $ / shares | $ 0.0004 | [9] |
[custom:SharebasedCompensationArrangementBySharebasedPaymentAwardWarrantAndOptionsExpirationDate] | Jul. 15, 2027 | [9] |
RPG Capital Partners Inc [Member] | ||
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | ||
[custom:SharebasedCompensationArrangementBySharebasedPaymentAwardWarrantAndOptionsDateOfIssuance] | Jul. 15, 2022 | [10] |
Shares upon issuance of warrant or options | 6,250,000 | [10] |
Exercise price | $ / shares | $ 0.0004 | [10] |
[custom:SharebasedCompensationArrangementBySharebasedPaymentAwardWarrantAndOptionsExpirationDate] | Jul. 15, 2027 | [10] |
RPG Capital Partners Inc One [Member] | ||
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | ||
[custom:SharebasedCompensationArrangementBySharebasedPaymentAwardWarrantAndOptionsDateOfIssuance] | Aug. 04, 2022 | [1] |
Shares upon issuance of warrant or options | 62,500,000 | [1] |
Exercise price | $ / shares | $ 0.0004 | [1] |
[custom:SharebasedCompensationArrangementBySharebasedPaymentAwardWarrantAndOptionsExpirationDate] | Aug. 04, 2027 | [1] |
RPG Capital Partners Inc Two [Member] | ||
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | ||
[custom:SharebasedCompensationArrangementBySharebasedPaymentAwardWarrantAndOptionsDateOfIssuance] | Sep. 12, 2022 | [11] |
Shares upon issuance of warrant or options | 37,500,000 | [11] |
Exercise price | $ / shares | $ 0.0004 | [11] |
[custom:SharebasedCompensationArrangementBySharebasedPaymentAwardWarrantAndOptionsExpirationDate] | Sep. 12, 2027 | [11] |
Lloyd Spencer [Member] | ||
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | ||
[custom:SharebasedCompensationArrangementBySharebasedPaymentAwardWarrantAndOptionsDateOfIssuance] | Mar. 07, 2022 | [12] |
Shares upon issuance of warrant or options | 165,000,000 | [12] |
Exercise price | $ / shares | $ 0.0002 | [12] |
[custom:SharebasedCompensationArrangementBySharebasedPaymentAwardWarrantAndOptionsExpirationDate] | Mar. 07, 2027 | [12] |
[1]On August 4, 2022, the Company issued the RGP Capital Partners, Inc. (the “Holder”) a Fixed Convertible Promissory Note (the “Note”) in the principal amount of $ 25,000 1 July 27, 2023 0.0002 five-year 62,500,000 0.0004 212,500,000 19,125,000 0.0004 5,000,000 88 500,000,000 0.0004 33,056 1 May 10, 2023 12 0.0002 five-year 74,375,000 0.0004 16,527,775 25,000 1 July 14, 2023 12% 0.0002 five-year 62,500,000 0.0004 212,500,000 25,000 1 July 14, 2023 0.0002 five-year 62,500,000 0.0004 212,500,000 10,000 1 July 15, 2023 0.0002 five-year 25,000,000 0.0004 85,000,000 2,500 1 July 15, 2023 0.0002 five-year 6,250,000 0.0004 21,250,000 2,500 1 July 15, 2023 0.0002 five-year 6,250,000 0.0004 21,250,000 15,000 1 September 12, 2023 0.0002 five-year 37,500,000 0.0004 212,500,000 |
SCHEDULE OF WARRANTS_OPTIONS _2
SCHEDULE OF WARRANTS/OPTIONS ISSUED (Details) (Parenthetical) - USD ($) | 1 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||||||||
Sep. 12, 2022 | Aug. 04, 2022 | Jul. 15, 2022 | Jul. 14, 2022 | May 10, 2022 | May 10, 2022 | Apr. 14, 2022 | Mar. 21, 2022 | Mar. 07, 2022 | Aug. 08, 2021 | Jul. 19, 2021 | Jun. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | Dec. 31, 2021 | Dec. 31, 2020 | Jun. 30, 2022 | Feb. 23, 2022 | |
Short-Term Debt [Line Items] | ||||||||||||||||||
Proceeds from convertible debt | $ 243,400 | $ 200,000 | $ 200,000 | |||||||||||||||
Fixed convertible promissory note, amount | $ 40,032 | $ 5,257,524 | ||||||||||||||||
JH Darbie and Company [Member] | Placement Agent Agreement [Member] | ||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||
Number of shares warrants to purchase | 19,125,000 | |||||||||||||||||
Warrant exercise price | $ 0.0004 | |||||||||||||||||
Mac Rab LLC [Member] | Standby Equity Commitment Agreement [Member] | ||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||
Number of shares warrants to purchase | 500,000,000 | |||||||||||||||||
Warrant exercise price | $ 0.0004 | |||||||||||||||||
Sale of stock | $ 5,000,000 | |||||||||||||||||
Sale of stock percentage | 88% | |||||||||||||||||
Quick Capital L L C [Member] | ||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||
Fixed convertible promissory note, amount | $ 25,000 | |||||||||||||||||
RPG Capital Partners Inc [Member] | ||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||
Fixed convertible promissory note, amount | $ 15,000 | $ 25,000 | ||||||||||||||||
Lloyd Spencer [Member] | ||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||
Proceeds from convertible debt | $ 66,000 | |||||||||||||||||
Debt term | 1 year | |||||||||||||||||
Debt Instrument, Maturity Date, Description | March 7, 2023 | |||||||||||||||||
Debt bears interest, percentage | 12% | |||||||||||||||||
Debt conversion price | $ 0.0002 | |||||||||||||||||
Lowest closing price | 0.16 | |||||||||||||||||
Lloyd Spencer [Member] | Transaction Two [Member] | ||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||
Number of shares warrants to purchase | 165,000,000 | |||||||||||||||||
Share Price | $ 0.0004 | |||||||||||||||||
Tangiers Investment Group, LLC [Member] | ||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||
Proceeds from convertible debt | $ 33,056 | $ 55,000 | ||||||||||||||||
Debt term | 1 year | |||||||||||||||||
Debt Instrument, Maturity Date, Description | March 21, 2023 | |||||||||||||||||
Debt bears interest, percentage | 12% | |||||||||||||||||
Debt conversion price | $ 0.0002 | $ 0.001 | ||||||||||||||||
Lowest closing price | 0.16 | |||||||||||||||||
Debt maturity date | Sep. 08, 2022 | Jul. 19, 2022 | ||||||||||||||||
Tangiers Investment Group, LLC [Member] | Transaction Two [Member] | ||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||
Number of shares warrants to purchase | 125,000,000 | |||||||||||||||||
Share Price | $ 0.0004 | |||||||||||||||||
Fixed Convertible Promissory Note [Member] | Mac Rab LLC [Member] | ||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||
Debt term | 1 year | |||||||||||||||||
Debt bears interest, percentage | 12% | 12% | ||||||||||||||||
Debt conversion price | $ 0.0002 | $ 0.0002 | ||||||||||||||||
Warrant exercise price | $ 0.0004 | $ 0.0004 | ||||||||||||||||
Fixed convertible promissory note, amount | $ 33,056 | |||||||||||||||||
Debt maturity date | May 10, 2023 | |||||||||||||||||
Warrant term | 5 years | 5 years | ||||||||||||||||
Warrant purchase of shares | 74,375,000 | 74,375,000 | ||||||||||||||||
Shares of common stock, commitment shares | 16,527,775 | |||||||||||||||||
Fixed Convertible Promissory Note [Member] | B H P Capital N Y Inc [Member] | ||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||
Debt term | 1 year | |||||||||||||||||
Debt bears interest, percentage | 12% | |||||||||||||||||
Debt conversion price | $ 0.0002 | |||||||||||||||||
Warrant exercise price | $ 0.0004 | |||||||||||||||||
Fixed convertible promissory note, amount | $ 25,000 | |||||||||||||||||
Debt maturity date | Jul. 14, 2023 | |||||||||||||||||
Warrant term | 5 years | |||||||||||||||||
Warrant purchase of shares | 62,500,000 | |||||||||||||||||
Shares of common stock, commitment shares | 212,500,000 | |||||||||||||||||
Fixed Convertible Promissory Note [Member] | Quick Capital L L C [Member] | ||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||
Debt term | 1 year | |||||||||||||||||
Debt conversion price | $ 0.0002 | |||||||||||||||||
Warrant exercise price | $ 0.0004 | |||||||||||||||||
Fixed convertible promissory note, amount | $ 25,000 | |||||||||||||||||
Debt maturity date | Jul. 14, 2023 | |||||||||||||||||
Warrant term | 5 years | |||||||||||||||||
Warrant purchase of shares | 62,500,000 | |||||||||||||||||
Shares of common stock, commitment shares | 212,500,000 | |||||||||||||||||
Fixed Convertible Promissory Note [Member] | Robert Papiri [Member] | ||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||
Debt term | 1 year | |||||||||||||||||
Debt conversion price | $ 0.0002 | |||||||||||||||||
Warrant exercise price | $ 0.0004 | |||||||||||||||||
Fixed convertible promissory note, amount | $ 10,000 | |||||||||||||||||
Debt maturity date | Jul. 15, 2023 | |||||||||||||||||
Warrant term | 5 years | |||||||||||||||||
Warrant purchase of shares | 25,000,000 | |||||||||||||||||
Shares of common stock, commitment shares | 85,000,000 | |||||||||||||||||
Fixed Convertible Promissory Note [Member] | Robert Papiri One [Member] | ||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||
Debt term | 1 year | |||||||||||||||||
Debt conversion price | $ 0.0002 | |||||||||||||||||
Warrant exercise price | $ 0.0004 | |||||||||||||||||
Fixed convertible promissory note, amount | $ 2,500 | |||||||||||||||||
Debt maturity date | Jul. 15, 2023 | |||||||||||||||||
Warrant term | 5 years | |||||||||||||||||
Warrant purchase of shares | 6,250,000 | |||||||||||||||||
Shares of common stock, commitment shares | 21,250,000 | |||||||||||||||||
Fixed Convertible Promissory Note [Member] | RPG Capital Partners Inc [Member] | ||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||
Debt term | 1 year | |||||||||||||||||
Debt conversion price | $ 0.0002 | |||||||||||||||||
Warrant exercise price | $ 0.0004 | |||||||||||||||||
Fixed convertible promissory note, amount | $ 15,000 | $ 2,500 | ||||||||||||||||
Debt maturity date | Jul. 15, 2023 | |||||||||||||||||
Warrant term | 5 years | |||||||||||||||||
Warrant purchase of shares | 6,250,000 | |||||||||||||||||
Shares of common stock, commitment shares | 21,250,000 | |||||||||||||||||
Fixed Convertible Promissory Note [Member] | RPG Capital Partners Inc One [Member] | ||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||
Debt term | 1 year | |||||||||||||||||
Debt conversion price | $ 0.0002 | |||||||||||||||||
Warrant exercise price | $ 0.0004 | |||||||||||||||||
Fixed convertible promissory note, amount | $ 25,000 | |||||||||||||||||
Debt maturity date | Jul. 27, 2023 | |||||||||||||||||
Warrant term | 5 years | |||||||||||||||||
Warrant purchase of shares | 62,500,000 | |||||||||||||||||
Shares of common stock, commitment shares | 212,500,000 | |||||||||||||||||
Fixed Convertible Promissory Note [Member] | RPG Capital Partners Inc Two [Member] | ||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||
Debt term | 1 year | |||||||||||||||||
Debt conversion price | $ 0.0002 | |||||||||||||||||
Warrant exercise price | $ 0.0004 | |||||||||||||||||
Debt maturity date | Sep. 12, 2023 | |||||||||||||||||
Warrant term | 5 years | |||||||||||||||||
Warrant purchase of shares | 37,500,000 | |||||||||||||||||
Shares of common stock, commitment shares | 212,500,000 |
STOCK OPTIONS AND WARRANTS (Det
STOCK OPTIONS AND WARRANTS (Details Narrative) - shares | Sep. 30, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Stock Purchase Warrants [Member] | |||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | |||
Class of Warrant or Right, Outstanding | 0 | 0 | |
Lloyd Spencer [Member] | Transaction Two [Member] | |||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | |||
[custom:ClassOfWarrantOrOptionOutstanding-0] | 1,146,000,000 |
COMMITMENTS AND CONTINGENCIES (
COMMITMENTS AND CONTINGENCIES (Details Narrative) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||
May 13, 2006 | Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | Dec. 31, 2021 | Dec. 31, 2020 | |
Product Information [Line Items] | |||||||
Compensation provided | $ 363,919 | ||||||
Officers compensations expense | $ 37,500 | $ 37,500 | $ 112,500 | $ 112,500 | |||
Officer compensation liability | $ 837,000 | $ 837,000 | $ 874,500 | $ 750,000 | |||
One Customer [Member] | Revenue Benchmark [Member] | Customer Concentration Risk [Member] | |||||||
Product Information [Line Items] | |||||||
Concentration Risk, Percentage | 100% | 100% | |||||
Employment Agreement [Member] | Lloyd T Spencer [Member] | |||||||
Product Information [Line Items] | |||||||
Agreement term | The Agreement provides for a 5-year term of employment to May 15, 2011 | ||||||
Compensation provided | $ 12,500 |
SUBSEQUENT EVENTS (Details Narr
SUBSEQUENT EVENTS (Details Narrative) | 1 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||
Nov. 16, 2022 USD ($) $ / shares shares | Nov. 07, 2022 USD ($) shares | Nov. 01, 2022 USD ($) $ / shares shares | Sep. 12, 2022 USD ($) shares | Aug. 04, 2022 USD ($) shares | Jul. 15, 2022 USD ($) $ / shares | Jul. 15, 2022 USD ($) $ / shares shares | Jul. 14, 2022 USD ($) $ / shares shares | Jul. 14, 2022 USD ($) $ / shares shares | May 10, 2022 USD ($) $ / shares shares | May 10, 2022 USD ($) $ / shares shares | Apr. 14, 2022 $ / shares shares | Mar. 21, 2022 USD ($) $ / shares shares | Mar. 21, 2022 USD ($) $ / shares shares | Mar. 07, 2022 USD ($) $ / shares shares | Mar. 07, 2022 USD ($) $ / shares shares | Feb. 14, 2022 shares | Jan. 21, 2022 shares | Jan. 21, 2022 USD ($) | Dec. 02, 2021 | Nov. 12, 2021 shares | Nov. 10, 2021 shares | Nov. 04, 2021 shares | Oct. 22, 2021 shares | Oct. 21, 2021 shares | Aug. 08, 2021 | Jun. 02, 2021 GBP (£) | Feb. 17, 2022 GBP (£) shares | Jul. 19, 2021 | Jun. 30, 2021 USD ($) shares | Sep. 30, 2022 USD ($) | Sep. 30, 2021 USD ($) | Dec. 31, 2021 USD ($) $ / shares shares | Dec. 31, 2020 USD ($) | |
Subsequent Event [Line Items] | ||||||||||||||||||||||||||||||||||
Debt Instrument, Face Amount | $ | $ 979,950 | $ 979,950 | $ 979,950 | |||||||||||||||||||||||||||||||
Issuance of shares | 100,000,000 | 100,000,000 | 200,000,000 | 120,000,000 | 200,000,000 | |||||||||||||||||||||||||||||
Common stock issued for convertible debt | $ | $ 40,032 | 5,257,524 | ||||||||||||||||||||||||||||||||
Issuance of shares, value | $ | 363,919 | |||||||||||||||||||||||||||||||||
Shares Issued, Shares, Share-Based Payment Arrangement, after Forfeiture | 160,000,000 | |||||||||||||||||||||||||||||||||
Debt Instrument, Fee | 20,000 | |||||||||||||||||||||||||||||||||
Royalty rate payable percentage | 5% | |||||||||||||||||||||||||||||||||
Proceeds from Convertible Debt | $ | $ 243,400 | $ 200,000 | $ 200,000 | |||||||||||||||||||||||||||||||
Common Stock [Member] | ||||||||||||||||||||||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||||||||||||||||||||||
Issuance of shares | 20,000,000 | 740,000,000 | ||||||||||||||||||||||||||||||||
Number of commitment shares | 400,315,100 | 3,150,315,100 | ||||||||||||||||||||||||||||||||
Common stock issued for convertible debt | $ | $ 40,032 | $ 315,032 | ||||||||||||||||||||||||||||||||
Issuance of shares, value | $ | $ 74,000 | |||||||||||||||||||||||||||||||||
License One [Member] | ||||||||||||||||||||||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||||||||||||||||||||||
Royalty Expense | £ | £ 5,000 | £ 5,000 | ||||||||||||||||||||||||||||||||
License Two [Member] | ||||||||||||||||||||||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||||||||||||||||||||||
Royalty Expense | £ | 3,000 | 3,000 | ||||||||||||||||||||||||||||||||
License Three [Member] | ||||||||||||||||||||||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||||||||||||||||||||||
Royalty Expense | £ | £ 1,000 | £ 1,000 | ||||||||||||||||||||||||||||||||
Tangiers Investment Group, LLC [Member] | ||||||||||||||||||||||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||||||||||||||||||||||
Debt term | 1 year | |||||||||||||||||||||||||||||||||
Debt instrumrnt description | March 21, 2023 | |||||||||||||||||||||||||||||||||
Debt bears interest | 10% | |||||||||||||||||||||||||||||||||
Debt fixed conversion price | $ / shares | $ 0.0002 | $ 0.0002 | $ 0.001 | |||||||||||||||||||||||||||||||
Lower closing price | 0.16 | 0.16 | ||||||||||||||||||||||||||||||||
Proceeds from Convertible Debt | $ | $ 33,056 | $ 55,000 | ||||||||||||||||||||||||||||||||
Debt Instrument, Maturity Date | Sep. 08, 2022 | Jul. 19, 2022 | ||||||||||||||||||||||||||||||||
Lloyd Spencer [Member] | ||||||||||||||||||||||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||||||||||||||||||||||
Number of commitment shares | 33,000,000 | |||||||||||||||||||||||||||||||||
Common stock issued for convertible debt | $ | $ 66,000 | |||||||||||||||||||||||||||||||||
License Of Agreement [Member] | ||||||||||||||||||||||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||||||||||||||||||||||
Debt Instrument, Fee | 20,000 | 27,247 | ||||||||||||||||||||||||||||||||
Quick Capital L L C [Member] | ||||||||||||||||||||||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||||||||||||||||||||||
Number of commitment shares | 25,000,000 | |||||||||||||||||||||||||||||||||
Common stock issued for convertible debt | $ | $ 25,000 | |||||||||||||||||||||||||||||||||
Quick Capital L L C [Member] | Fixed Convertible Promissory Note [Member] | ||||||||||||||||||||||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||||||||||||||||||||||
Debt term | 1 year | |||||||||||||||||||||||||||||||||
Debt fixed conversion price | $ / shares | $ 0.0002 | $ 0.0002 | ||||||||||||||||||||||||||||||||
Number of commitment shares | 212,500,000 | |||||||||||||||||||||||||||||||||
Common stock issued for convertible debt | $ | $ 25,000 | |||||||||||||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 0.0004 | 0.0004 | ||||||||||||||||||||||||||||||||
Debt Instrument, Maturity Date | Jul. 14, 2023 | |||||||||||||||||||||||||||||||||
RPG Capital Partners Inc [Member] | ||||||||||||||||||||||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||||||||||||||||||||||
Number of commitment shares | 15,000,000 | 25,000,000 | ||||||||||||||||||||||||||||||||
Common stock issued for convertible debt | $ | $ 15,000 | $ 25,000 | ||||||||||||||||||||||||||||||||
RPG Capital Partners Inc [Member] | Fixed Convertible Promissory Note [Member] | ||||||||||||||||||||||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||||||||||||||||||||||
Debt term | 1 year | |||||||||||||||||||||||||||||||||
Debt fixed conversion price | $ / shares | $ 0.0002 | $ 0.0002 | ||||||||||||||||||||||||||||||||
Number of commitment shares | 21,250,000 | |||||||||||||||||||||||||||||||||
Common stock issued for convertible debt | $ | $ 15,000 | $ 2,500 | ||||||||||||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 0.0004 | $ 0.0004 | ||||||||||||||||||||||||||||||||
Debt Instrument, Maturity Date | Jul. 15, 2023 | |||||||||||||||||||||||||||||||||
Tangiers Investment Group LLC [Member] | ||||||||||||||||||||||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||||||||||||||||||||||
Number of commitment shares | 27,500,000 | |||||||||||||||||||||||||||||||||
Common stock issued for convertible debt | $ | $ 55,000 | |||||||||||||||||||||||||||||||||
Mac Rab LLC [Member] | ||||||||||||||||||||||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||||||||||||||||||||||
Number of commitment shares | 16,527,775 | |||||||||||||||||||||||||||||||||
Mac Rab LLC [Member] | Fixed Convertible Promissory Note [Member] | ||||||||||||||||||||||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||||||||||||||||||||||
Debt term | 1 year | |||||||||||||||||||||||||||||||||
Debt fixed conversion price | $ / shares | $ 0.0002 | $ 0.0002 | ||||||||||||||||||||||||||||||||
Number of commitment shares | 16,527,775 | |||||||||||||||||||||||||||||||||
Common stock issued for convertible debt | $ | $ 33,056 | |||||||||||||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 0.0004 | $ 0.0004 | ||||||||||||||||||||||||||||||||
Debt Instrument, Maturity Date | May 10, 2023 | |||||||||||||||||||||||||||||||||
Mac Rab LLC [Member] | Standby Equity Commitment Agreement [Member] | ||||||||||||||||||||||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 500,000,000 | |||||||||||||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 0.0004 | |||||||||||||||||||||||||||||||||
B H P Capital N Y Inc [Member] | Fixed Convertible Promissory Note [Member] | ||||||||||||||||||||||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||||||||||||||||||||||
Debt term | 1 year | |||||||||||||||||||||||||||||||||
Debt fixed conversion price | $ / shares | $ 0.0002 | 0.0002 | ||||||||||||||||||||||||||||||||
Number of commitment shares | 212,500,000 | |||||||||||||||||||||||||||||||||
Common stock issued for convertible debt | $ | $ 25,000 | |||||||||||||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 0.0004 | $ 0.0004 | ||||||||||||||||||||||||||||||||
Debt Instrument, Maturity Date | Jul. 14, 2023 | |||||||||||||||||||||||||||||||||
Subsequent Event [Member] | ||||||||||||||||||||||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||||||||||||||||||||||
Shares Issued, Shares, Share-Based Payment Arrangement, after Forfeiture | 90,000,000 | 160,000,000 | ||||||||||||||||||||||||||||||||
Subsequent Event [Member] | Robert Papiri Defined Benefit Plan [Member] | ||||||||||||||||||||||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||||||||||||||||||||||
Debt instrumrnt description | July 15, 2023 | |||||||||||||||||||||||||||||||||
Debt bears interest | 12% | 12% | ||||||||||||||||||||||||||||||||
Debt fixed conversion price | $ / shares | $ 0.0002 | $ 0.0002 | ||||||||||||||||||||||||||||||||
Number of commitment shares | 17,000,000 | |||||||||||||||||||||||||||||||||
Proceeds from Convertible Debt | $ | $ 10,000 | |||||||||||||||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 25,000,000 | 25,000,000 | ||||||||||||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 0.0004 | $ 0.0004 | ||||||||||||||||||||||||||||||||
Common stock commitment shares | 85,000,000 | 85,000,000 | ||||||||||||||||||||||||||||||||
Subsequent Event [Member] | Robert Papiri Defined Benefit Plan [Member] | Fixed Convertible Promissory Note [Member] | ||||||||||||||||||||||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||||||||||||||||||||||
Debt term | 1 year | |||||||||||||||||||||||||||||||||
Subsequent Event [Member] | Robert Papiri Defined Benefit Plan [Member] | Fixed Convertible Promissory Note [Member] | ||||||||||||||||||||||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||||||||||||||||||||||
Debt Instrument, Face Amount | $ | $ 10,000 | |||||||||||||||||||||||||||||||||
Debt term | 1 year | |||||||||||||||||||||||||||||||||
Debt instrumrnt description | November 16, 2023 | |||||||||||||||||||||||||||||||||
Debt bears interest | 12% | |||||||||||||||||||||||||||||||||
Debt fixed conversion price | $ / shares | $ 0.0002 | |||||||||||||||||||||||||||||||||
Lower closing price | 0.16 | |||||||||||||||||||||||||||||||||
Subsequent Event [Member] | Lloyd Spencer [Member] | ||||||||||||||||||||||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||||||||||||||||||||||
Issuance of shares | 428,571,428 | |||||||||||||||||||||||||||||||||
Issuance of shares, value | $ | $ 150,000 | |||||||||||||||||||||||||||||||||
Subsequent Event [Member] | Llyod Spencer [Member] | ||||||||||||||||||||||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||||||||||||||||||||||
Shares Issued, Shares, Share-Based Payment Arrangement, after Forfeiture | 30,000,000 | |||||||||||||||||||||||||||||||||
Subsequent Event [Member] | Three Individual [Member] | ||||||||||||||||||||||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||||||||||||||||||||||
Shares Issued, Shares, Share-Based Payment Arrangement, after Forfeiture | 30,000,000 | |||||||||||||||||||||||||||||||||
Subsequent Event [Member] | Lloyd T Spencer [Member] | ||||||||||||||||||||||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||||||||||||||||||||||
Debt instrumrnt description | March 7, 2023 | |||||||||||||||||||||||||||||||||
Debt bears interest | 12% | 12% | ||||||||||||||||||||||||||||||||
Debt fixed conversion price | $ / shares | $ 0.0002 | $ 0.0002 | ||||||||||||||||||||||||||||||||
Issuance of shares, value | $ | $ 66,000 | |||||||||||||||||||||||||||||||||
Proceeds from Convertible Debt | $ | $ 66,000 | |||||||||||||||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 165,000,000 | 165,000,000 | ||||||||||||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 0.0004 | $ 0.0004 | ||||||||||||||||||||||||||||||||
Subsequent Event [Member] | Lloyd T Spencer [Member] | Common Stock [Member] | ||||||||||||||||||||||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||||||||||||||||||||||
Issuance of shares | 33,000,000 | |||||||||||||||||||||||||||||||||
Subsequent Event [Member] | Robert Papiri Defined Benefit Plan One [Member] | ||||||||||||||||||||||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||||||||||||||||||||||
Debt instrumrnt description | July 15, 2023 | |||||||||||||||||||||||||||||||||
Debt bears interest | 12% | 12% | ||||||||||||||||||||||||||||||||
Debt fixed conversion price | $ / shares | $ 0.0002 | $ 0.0002 | ||||||||||||||||||||||||||||||||
Proceeds from Convertible Debt | $ | $ 2,500 | |||||||||||||||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 6,250,000 | 6,250,000 | ||||||||||||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 0.0004 | $ 0.0004 | ||||||||||||||||||||||||||||||||
Common stock commitment shares | 21,250,000 | 21,250,000 | ||||||||||||||||||||||||||||||||
Subsequent Event [Member] | Robert Papiri Defined Benefit Plan One [Member] | Fixed Convertible Promissory Note [Member] | ||||||||||||||||||||||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||||||||||||||||||||||
Debt term | 1 year | |||||||||||||||||||||||||||||||||
Subsequent Event [Member] | Registration Rights Agreement [Member] | ||||||||||||||||||||||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||||||||||||||||||||||
Issuance of shares | 67,000,000 | |||||||||||||||||||||||||||||||||
Subsequent Event [Member] | Mutual Release and Settlement Agreement [Member] | Consultant [Member] | ||||||||||||||||||||||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||||||||||||||||||||||
Issuance of shares | 206,896,552 | |||||||||||||||||||||||||||||||||
Subsequent Event [Member] | Interim Joint Product Development and Sales Representation Agreement [Member] | ||||||||||||||||||||||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||||||||||||||||||||||
Issuance of shares | 83,333,334 | |||||||||||||||||||||||||||||||||
Subsequent Event [Member] | Ecomena Limited [Member] | ||||||||||||||||||||||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||||||||||||||||||||||
Issuance of shares | 160,000,000 | |||||||||||||||||||||||||||||||||
Subsequent Event [Member] | Quick Capital L L C [Member] | ||||||||||||||||||||||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||||||||||||||||||||||
Debt term | 1 year | |||||||||||||||||||||||||||||||||
Subsequent Event [Member] | Quick Capital L L C [Member] | Fixed Convertible Promissory Note [Member] | ||||||||||||||||||||||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||||||||||||||||||||||
Debt term | 1 year | |||||||||||||||||||||||||||||||||
Subsequent Event [Member] | Investor [Member] | Standby Equity Commitment Agreement [Member] | ||||||||||||||||||||||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||||||||||||||||||||||
Issuance of shares | 5,000,000 | |||||||||||||||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 500,000,000 | |||||||||||||||||||||||||||||||||
Purchase price of common stock percentage | 88% | |||||||||||||||||||||||||||||||||
Share Price | $ / shares | $ 0.0004 | |||||||||||||||||||||||||||||||||
Subsequent Event [Member] | Holder [Member] | Fixed Convertible Promissory Note [Member] | ||||||||||||||||||||||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||||||||||||||||||||||
Debt term | 1 year | |||||||||||||||||||||||||||||||||
Debt fixed conversion price | $ / shares | $ 0.0002 | $ 0.0002 | ||||||||||||||||||||||||||||||||
Lower closing price | 0.16 | 0.16 | ||||||||||||||||||||||||||||||||
Debt Instrument, Maturity Date | May 10, 2023 | |||||||||||||||||||||||||||||||||
Long-Term Debt, Percentage Bearing Fixed Interest, Percentage Rate | 12% | 12% | ||||||||||||||||||||||||||||||||
Subsequent Event [Member] | Quick Capital L L C [Member] | ||||||||||||||||||||||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||||||||||||||||||||||
Debt Instrument, Face Amount | $ | $ 10,000 | |||||||||||||||||||||||||||||||||
Debt instrumrnt description | November 1, 2023 | July 14, 2023 | ||||||||||||||||||||||||||||||||
Debt bears interest | 12% | 12% | 12% | |||||||||||||||||||||||||||||||
Debt fixed conversion price | $ / shares | $ 0.0002 | $ 0.0002 | $ 0.0002 | |||||||||||||||||||||||||||||||
Lower closing price | 0.16 | |||||||||||||||||||||||||||||||||
Number of commitment shares | 17,000,000 | |||||||||||||||||||||||||||||||||
Proceeds from Convertible Debt | $ | $ 25,000 | |||||||||||||||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 62,500,000 | 62,500,000 | ||||||||||||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 0.0004 | $ 0.0004 | ||||||||||||||||||||||||||||||||
Common stock commitment shares | 212,500,000 | 212,500,000 | ||||||||||||||||||||||||||||||||
Subsequent Event [Member] | Quick Capital L L C [Member] | Registration Rights Agreement [Member] | ||||||||||||||||||||||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||||||||||||||||||||||
Issuance of shares | 67,000,000 | |||||||||||||||||||||||||||||||||
Subsequent Event [Member] | RPG Capital Partners Inc [Member] | ||||||||||||||||||||||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||||||||||||||||||||||
Number of commitment shares | 2,500,000 | |||||||||||||||||||||||||||||||||
Common stock issued for convertible debt | $ | $ 2,500 | |||||||||||||||||||||||||||||||||
Subsequent Event [Member] | Tangiers Investment Group LLC [Member] | ||||||||||||||||||||||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||||||||||||||||||||||
Debt instrumrnt description | March 21, 2023 | |||||||||||||||||||||||||||||||||
Debt bears interest | 12% | 12% | ||||||||||||||||||||||||||||||||
Debt fixed conversion price | $ / shares | $ 0.0002 | $ 0.0002 | ||||||||||||||||||||||||||||||||
Proceeds from Convertible Debt | $ | $ 55,000 | |||||||||||||||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 125,000,000 | 125,000,000 | ||||||||||||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 0.0004 | $ 0.0004 | ||||||||||||||||||||||||||||||||
Common stock commitment shares | 27,500,000 | 27,500,000 | ||||||||||||||||||||||||||||||||
Subsequent Event [Member] | Mac Rab LLC [Member] | ||||||||||||||||||||||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 74,375,000 | 74,375,000 | ||||||||||||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 0.0004 | $ 0.0004 | ||||||||||||||||||||||||||||||||
Common stock commitment shares | 16,527,775 | 16,527,775 | ||||||||||||||||||||||||||||||||
Subsequent Event [Member] | B H P Capital N Y Inc [Member] | ||||||||||||||||||||||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||||||||||||||||||||||
Debt instrumrnt description | July 14, 2023 | |||||||||||||||||||||||||||||||||
Debt bears interest | 12% | 12% | ||||||||||||||||||||||||||||||||
Debt fixed conversion price | $ / shares | $ 0.0002 | $ 0.0002 | ||||||||||||||||||||||||||||||||
Proceeds from Convertible Debt | $ | $ 25,000 | |||||||||||||||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 62,500,000 | 62,500,000 | ||||||||||||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 0.0004 | $ 0.0004 | ||||||||||||||||||||||||||||||||
Common stock commitment shares | 212,500,000 | 212,500,000 | ||||||||||||||||||||||||||||||||
Subsequent Event [Member] | R G P Capital Partners Inc [Member] | ||||||||||||||||||||||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||||||||||||||||||||||
Debt instrumrnt description | July 15, 2023 | |||||||||||||||||||||||||||||||||
Debt bears interest | 12% | 12% | ||||||||||||||||||||||||||||||||
Debt fixed conversion price | $ / shares | $ 0.0002 | $ 0.0002 | ||||||||||||||||||||||||||||||||
Proceeds from Convertible Debt | $ | $ 2,500 | |||||||||||||||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 6,250,000 | 6,250,000 | ||||||||||||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 0.0004 | $ 0.0004 | ||||||||||||||||||||||||||||||||
Common stock commitment shares | 21,250,000 | 21,250,000 | ||||||||||||||||||||||||||||||||
Subsequent Event [Member] | R G P Capital Partners Inc [Member] | Fixed Convertible Promissory Note [Member] | ||||||||||||||||||||||||||||||||||
Subsequent Event [Line Items] | ||||||||||||||||||||||||||||||||||
Debt term | 1 year |
OBLIGATIONS COLLATERALIZED BY_5
OBLIGATIONS COLLATERALIZED BY RECEIVABLES, NET (Details Narrative) - USD ($) | 1 Months Ended | 9 Months Ended | 12 Months Ended | ||||||
Nov. 12, 2021 | Nov. 10, 2021 | Nov. 04, 2021 | Oct. 22, 2021 | Oct. 21, 2021 | Oct. 13, 2021 | Sep. 30, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Short-Term Debt [Line Items] | |||||||||
Sale of common stock, net of stock issue costs, shares | 100,000,000 | 100,000,000 | 200,000,000 | 120,000,000 | 200,000,000 | ||||
Sale of common stock, net of stock issue costs of $6,081 | $ 363,919 | ||||||||
Debt Instrument, Face Amount | $ 979,950 | 979,950 | $ 979,950 | ||||||
Debt Instrument, Increase, Accrued Interest | 4,267,426 | 3,724,455 | 5,474,608 | ||||||
Debt Instrument, Unamortized Discount | $ 161,099 | $ 6,178 | $ 0 | ||||||
YA Global Investments, L.P. [Member] | Settlement Agreement [Member] | |||||||||
Short-Term Debt [Line Items] | |||||||||
Sale of common stock, net of stock issue costs, shares | 2,225,000,000 | ||||||||
Sale of common stock, net of stock issue costs of $6,081 | $ 5,192,492 | ||||||||
Debt Instrument, Face Amount | 2,715,910 | ||||||||
Debt Instrument, Increase, Accrued Interest | $ 2,476,582 |
SCHEDULE OF DEFERRED TAX ASSETS
SCHEDULE OF DEFERRED TAX ASSETS (Details) - USD ($) | Dec. 31, 2021 | Dec. 31, 2020 |
Income Tax Disclosure [Abstract] | ||
Loss carryforwards | $ 5,381,301 | $ 5,057,697 |
Valuation | (5,381,301) | (5,057,697) |
Net deferred tax assets |
SCHEDULE OF COMPONENTS OF INCOM
SCHEDULE OF COMPONENTS OF INCOME TAX EXPENSE (BENEFIT) (Details) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | Dec. 31, 2021 | Dec. 31, 2020 | |
Income Tax Disclosure [Abstract] | ||||||
Expected income tax (benefit) at 21% | $ 1,736,479 | $ (2,463,246) | ||||
Non-deductible (non-taxable) loss (gain) from derivative liability | (2,060,082) | 2,184,395 | ||||
Change in valuation allowance | 323,603 | 278,851 | ||||
Provision for income taxes |
SCHEDULE OF COMPONENTS OF INC_2
SCHEDULE OF COMPONENTS OF INCOME TAX EXPENSE (BENEFIT) (Details) (Parenthetical) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Income Tax Disclosure [Abstract] | ||
Effective income tax rate | 21% | 21% |
INCOME TAXES (Details Narrative
INCOME TAXES (Details Narrative) - USD ($) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Operating Loss Carryforwards [Line Items] | ||
Effective income tax rate | 21% | 21% |
Operating Loss Carryforwards | $ 25,000,000 | |
Expires in 2027 to 2037 [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Operating Loss Carryforwards | $ 21,000,000 |