Cover
Cover - shares | 3 Months Ended | |
Mar. 31, 2023 | May 19, 2023 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Document Period End Date | Mar. 31, 2023 | |
Document Fiscal Period Focus | Q1 | |
Document Fiscal Year Focus | 2023 | |
Current Fiscal Year End Date | --12-31 | |
Entity File Number | 000-33231 | |
Entity Registrant Name | CARBONMETA TECHNOLOGIES, INC. | |
Entity Central Index Key | 0001156784 | |
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 | |
Title of 12(b) Security | Common Stock, $0.001 par value per share | |
Trading Symbol | COWI | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | true | |
Elected Not To Use the Extended Transition Period | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 19,172,538,816 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) | Mar. 31, 2023 | Dec. 31, 2022 |
CURRENT ASSETS: | ||
Cash | $ 5,096 | $ 379 |
Accounts receivable | 20,525 | |
Inventory | 3,157 | 3,157 |
Total Current Assets | 8,253 | 24,061 |
Property and equipment, net of accumulated depreciation of $22,065 and $18,235 at March 31, 2023 and December 31, 2022, respectively | 25,059 | 28,889 |
Licenses, net of accumulated amortization of $38,683 and $32,229 at March 31, 2023 and December 31, 2022, respectively | 131,820 | 138,274 |
TOTAL ASSETS | 165,132 | 191,224 |
CURRENT LIABILITIES: | ||
Accounts payable and accrued expenses | 11,777,941 | 11,457,444 |
Obligations collateralized by receivables | 206,236 | 206,236 |
Convertible debt, net | 2,164,529 | 2,160,034 |
Small Business Administration loan | 979,950 | 979,950 |
Derivative liability | 18,009,660 | 9,652,846 |
Total Current Liabilities | 33,492,604 | 24,810,798 |
TOTAL LIABILITIES | 33,492,604 | 24,810,798 |
Commitments and contingencies | ||
STOCKHOLDERS’ DEFICIT: | ||
Common stock; 35,000,000,000 and 35,000,000,000 shares authorized at $0.0001 par value, 19,360,719,816 and 18,831,386,254 shares issued, respectively; 19,245,422,812 and 18,643,205,254 shares outstanding, respectively | 1,936,072 | 1,883,139 |
Additional paid-in capital | 37,558,582 | 37,515,219 |
Treasury stock – 115,297,004 and 188,181,000 shares of common stock | (14,230) | (18,997) |
Accumulated other comprehensive income | 2,670 | 3,725 |
Accumulated deficit | (72,811,862) | (64,003,956) |
TOTAL STOCKHOLDERS’ DEFICIT | (33,327,472) | (24,619,574) |
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT | 165,132 | 191,224 |
Redeemable Preferred Stock Series A [Member] | ||
STOCKHOLDERS’ DEFICIT: | ||
Redeemable convertible preferred stock, Series value | ||
Redeemable Preferred Stock Series B [Member] | ||
STOCKHOLDERS’ DEFICIT: | ||
Redeemable convertible preferred stock, Series value | 160 | 160 |
Redeemable Preferred Stock Series C [Member] | ||
STOCKHOLDERS’ DEFICIT: | ||
Redeemable convertible preferred stock, Series value | ||
Redeemable Preferred Stock Series D [Member] | ||
STOCKHOLDERS’ DEFICIT: | ||
Redeemable convertible preferred stock, Series value | 100 | 100 |
Redeemable Preferred Stock Series E [Member] | ||
STOCKHOLDERS’ DEFICIT: | ||
Redeemable convertible preferred stock, Series value | 821 | 821 |
Redeemable Preferred Stock Series F [Member] | ||
STOCKHOLDERS’ DEFICIT: | ||
Redeemable convertible preferred stock, Series value | 190 | 190 |
Redeemable Preferred Stock Series G [Member] | ||
STOCKHOLDERS’ DEFICIT: | ||
Redeemable convertible preferred stock, Series value | 25 | 25 |
Nonrelated Party [Member] | ||
CURRENT LIABILITIES: | ||
Notes payable - related parties | 154,873 | 154,873 |
Related Party [Member] | ||
CURRENT LIABILITIES: | ||
Notes payable - related parties | $ 199,415 | $ 199,415 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) | Mar. 31, 2023 | Dec. 31, 2022 |
Accumulated depreciation of property and equipment | $ 22,065 | $ 18,235 |
Accumulated depreciation of Licenses | $ (38,683) | $ (32,229) |
Common stock, shares authorized | 35,000,000,000 | 35,000,000,000 |
Common stock, par value | $ 0.0001 | $ 0.0001 |
Common stock, shares issued | 19,360,719,816 | 18,831,386,254 |
Common stock, shares outstanding | 19,245,422,812 | 18,643,205,254 |
Treasury stock, shares | 115,297,004 | 188,181,000 |
Redeemable Preferred Stock Series A [Member] | ||
Preferred stock par value | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized | 125,000 | 125,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Redeemable Preferred Stock Series B [Member] | ||
Preferred stock par value | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized | 525,000 | 525,000 |
Preferred stock, shares issued | 159,666 | 159,666 |
Preferred stock, shares outstanding | 159,666 | 159,666 |
Redeemable Preferred Stock Series C [Member] | ||
Preferred stock par value | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized | 500,000 | 500,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Redeemable Preferred Stock Series D [Member] | ||
Preferred stock par value | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized | 500,000 | 500,000 |
Preferred stock, shares issued | 100,000 | 100,000 |
Preferred stock, shares outstanding | 100,000 | 100,000 |
Redeemable Preferred Stock Series E [Member] | ||
Preferred stock par value | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized | 1,000,000 | 1,000,000 |
Preferred stock, shares issued | 821,377 | 821,377 |
Preferred stock, shares outstanding | 821,377 | 821,377 |
Redeemable Preferred Stock Series F [Member] | ||
Preferred stock par value | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized | 500,000 | 500,000 |
Preferred stock, shares issued | 190,000 | 190,000 |
Preferred stock, shares outstanding | 190,000 | 190,000 |
Redeemable Preferred Stock Series G [Member] | ||
Preferred stock par value | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized | 500,000 | 500,000 |
Preferred stock, shares issued | 25,000 | 25,000 |
Preferred stock, shares outstanding | 25,000 | 25,000 |
Licensing Agreements [Member] | ||
Accumulated depreciation of Licenses | $ 38,683 | $ 32,229 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($) | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Income Statement [Abstract] | ||
Contract services revenue | $ 10,376 | |
Operating expenses: | ||
Executive compensation | 37,500 | 37,500 |
Legal and professional fees | 23,161 | 44,056 |
Investor relations | 4,090 | 20,664 |
Consulting fees | 1,288 | 15,221 |
Sales and marketing | 20,000 | 14,183 |
Research and development | 9,330 | 4,099 |
Amortization of licenses | 6,454 | 7,904 |
Depreciation of equipment | 3,830 | 3,830 |
Other operating expenses | 26,372 | 110,057 |
Total operating expenses | 132,025 | 257,514 |
Operating (loss) | (121,649) | (257,514) |
Other income (expenses): | ||
Gain (loss) from derivative liability | (8,356,814) | (571,095) |
Interest expense | (329,443) | (220,928) |
Total other income (expenses) - net | (8,686,257) | (792,023) |
Income (loss) before income taxes | (8,807,906) | (1,049,537) |
Income tax provision | ||
Net income (loss) | $ (8,807,906) | $ (1,049,537) |
Net income per common share: | ||
Basic | $ 0 | $ 0 |
Diluted | $ 0 | $ 0 |
Weighted-average common shares outstanding: | ||
Basic | 19,110,654,882 | 18,285,313,740 |
Diluted | 19,110,654,882 | 18,285,313,740 |
Comprehensive income (loss): | ||
Foreign currency translation adjustments | $ (1,055) | |
Comprehensive income (loss) | $ (8,808,961) | $ (1,049,537) |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Stockholders' (Deficit) (Unaudited) - 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, Common [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total |
Beginning balance 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 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 | |||||||||
Common stock issued for services, shares | 203,333,334 | |||||||||||
Common stock and warrants issued in connection with convertible notes financings, net of placement agent fee of $1,350 | $ 6,050 | 102,600 | 108,650 | |||||||||
Common stock and warrants issued in connection with convertible notes financings, net of placement agent fee of $1,350, shares | 60,500,000 | |||||||||||
Common stock 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 loss for three months ended March 31, 2023 | (1,049,537) | (1,049,537) | ||||||||||
Ending balance 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 | 741,567 | 180,000 | 25,000 | 18,651,358,479 | ||||||
Beginning balance at Dec. 31, 2022 | 1,296 | $ 1,883,139 | 37,515,219 | (18,997) | (64,003,956) | 3,725 | (24,619,574) | |||||
Beginning balance, shares at Dec. 31, 2022 | 159,666 | 100,000 | 821,377 | 190,000 | 25,000 | 18,831,386,254 | ||||||
Common stock issued for license | ||||||||||||
Common stock issued for services | $ 20,000 | 20,000 | ||||||||||
Common stock issued for services, shares | 200,000,000 | |||||||||||
Net loss for three months ended March 31, 2023 | (8,807,906) | (8,807,906) | ||||||||||
Common stock issued in connection with conversion of convertible notes | $ 32,933 | 32,933 | 65,866 | |||||||||
Common stock issued in connection with conversion of convertible notes, shares | 329,333,562 | |||||||||||
Sale of Treasury stock | 10,430 | 4,767 | 15,197 | |||||||||
Foreign currency translation adjustments | (1,055) | (1,055) | ||||||||||
Ending balance at Mar. 31, 2023 | $ 1,296 | $ 1,936,072 | $ 37,558,582 | $ (14,230) | $ (72,811,862) | $ 2,670 | $ (33,327,472) | |||||
Ending balance, shares at Mar. 31, 2023 | 159,666 | 100,000 | 821,377 | 190,000 | 25,000 | 19,360,719,816 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Stockholders' (Deficit) (Unaudited) (Parenthetical) | 3 Months Ended |
Mar. 31, 2022 USD ($) | |
Statement of Stockholders' Equity [Abstract] | |
Placement agent fees | $ 1,350 |
Condensed Consolidated Statem_4
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
OPERATING ACTIVITIES: | ||
Net income (loss) for the period | $ (8,807,906) | $ (1,049,537) |
Adjustments to reconcile net income (loss) to net cash used in operating activities: | ||
Depreciation of equipment | 3,830 | 3,830 |
Amortization of licenses | 6,454 | 7,904 |
Amortization of debt discounts | 64,195 | 8,313 |
Stock based compensation | 24,249 | 48,000 |
Loss (gain) from derivative liability | 8,356,814 | 571,095 |
Changes in operating assets and liabilities: | ||
Accounts receivable | 20,525 | |
Prepaid expenses | 33,611 | |
Accounts payable and accrued expenses | 322,414 | 312,759 |
NET CASH (USED IN) OPERATING ACTIVITIES | (9,425) | (64,025) |
INVESTING ACTIVITIES: | ||
Purchase of equipment | ||
NET CASH USED IN INVESTING ACTIVITIES | ||
FINANCING ACTIVITIES: | ||
Proceeds from convertible debt financings | 108,650 | |
Proceeds from sales of treasury stock | 15,197 | |
Payments towards notes payable | (3,000) | |
NET CASH PROVIDED BY FINANCING ACTIVITIES | 15,197 | 105,650 |
EXCHANGE RATE EFFECT ON CASH | (1,055) | |
NET INCREASE (DECREASE) IN CASH | 4,717 | 41,625 |
CASH, BEGINNING OF PERIOD | 379 | 10,573 |
CASH, END OF PERIOD | 5,096 | 51,198 |
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 new convertible notes | $ 110,000 |
ORGANIZATION
ORGANIZATION | 3 Months Ended |
Mar. 31, 2023 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
ORGANIZATION | 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 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”). The Company has two majority owned subsidiaries: a 50.1 51 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. CarbonMeta Green Building Materials, LLC (“CMGBM”) is a joint venture with Salvum Corporation organized on August 30, 2022 to develop and market construction mix products that are carbon negative (see Production Agreement below). 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, 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. CARBONMETA TECHNOLOGIES, INC. NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS For the three months ended March 31, 2023 and 2022 (Unaudited) NOTE A – ORGANIZATION (continued) 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 and have been paid in full by the Company. The Royalty Rate is 5 % of net 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. Whether the company realizes product sales or not, the Company is subject to a minimum payment to Oxford University Innovation of £ 10,000 for license year 3 and £ 20,000 for license year 4 and each license year thereafter. 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: established subsidiary in Oxford, United Kingdom ● March 2022: produced 0.025 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 2022 to present (see Service Award below), CarbonMeta Technologies has been working 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 27,247 10,000 160,000,000 5 5,000 3,000 1,000 CARBONMETA TECHNOLOGIES, INC. NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS For the three months ended March 31, 2023 and 2022 (Unaudited) NOTE A – ORGANIZATION (continued) 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 formed CarbonMeta Green Building Materials, LLC (“CMGBM”) and signed an Operating Agreement for Management of CMGBM on August 28, 2022 that supersedes the Interim Joint Product Development and Sales Representation Agreement. The Operating Agreement for Management of CMGBM (the “CMGBM Agreement”) provides for (1) the allocation of 501 Managing Membership units (50.1%) to CarbonMeta Technologies, Inc. (“COWI”) and 499 Managing Membership units (49.9%) to Salvum Corporation 250,000,000 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 a business company located in Spain. The award provided for CMR to provide the customer with an initial prototype process for converting mixed waste plastic to hydrogen and solid carbon and for the customer to pay CMR a total of 50,000 50,000 49,542 40,103 9,439 In October 2022, CMR was granted a second Service Award for 50,000 20,000 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 CONDENSED CONSOLIDATED FINANCIAL STATEMENTS For the three months ended March 31, 2023 and 2022 (Unaudited) NOTE A – ORGANIZATION (continued) 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. 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. CARBONMETA TECHNOLOGIES, INC. NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS For the three months ended March 31, 2023 and 2022 (Unaudited) |
SIGNIFICANT ACCOUNTING POLICIES
SIGNIFICANT ACCOUNTING POLICIES | 3 Months Ended |
Mar. 31, 2023 | |
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 three months ended March 31, 2023 are not necessarily indicative of results that may be expected for the year ending December 31, 2023. The balance sheet information as of December 31, 2022 was derived from the audited financial statements included in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission on April 20, 2023. These financial statements should be read in conjunction with that report. Principles of Consolidation The consolidated financial statements include the accounts of CarbonMeta Technologies, Inc. and its six wholly-owned subsidiaries, CoroWare Technologies, Inc., CoroWare Robotics Solutions, Inc., Robotic Workspace Technologies, Inc., Carbon Source, Inc., CoroWare Treasury, Inc., and CarbonMeta Research Ltd., and its two majority owned subsidiaries CarbonMeta Green Building Materials, LLC and 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. Foreign Currency Translation The accompanying consolidated financial statements are presented in United States dollars (“$”), which is the reporting currency of the Company. The functional currency of CarbonMeta Research Ltd. (“CMR”) is the Great Britain pound (“GBP”); the functional currency of the Company and its other subsidiaries is the United States dollar. The assets and liabilities of CMR are translated at the GBR currency exchange rate at the end of the period ($ 1.236823 1.223491 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 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 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 Licenses The licenses acquired from Oxford University Innovation Limited and Ecomena Limited ( see Note A 10 5 CARBONMETA TECHNOLOGIES, INC. NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS For the three months ended March 31, 2023 and 2022 (Unaudited) NOTE B – SIGNIFICANT ACCOUNTING POLICIES (continued) 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 one 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, 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. CARBONMETA TECHNOLOGIES, INC. NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS For the three months ended March 31, 2023 and 2022 (Unaudited) NOTE B – SIGNIFICANT ACCOUNTING POLICIES (continued) 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. The following table presents assets and liabilities that are measured and recognized at fair value as of March 31, 2023 and December 31, 2022, on a recurring basis: SUMMARY OF ASSETS AND LIABILITIES MEASURED AND RECOGNIZED AT FAIR VALUE Assets and liabilities measured at fair value on a recurring basis at March 31, 2023 Level 1 Level 2 Level 3 Total Carrying Value Derivative liabilities $ - $ (18,009,660 ) $ - $ (18,009,660 ) Assets and liabilities measured at fair value on a recurring basis at December 31, 2022 Level 1 Level 2 Level 3 Total Carrying Derivative liabilities $ - $ (9,652,846 ) $ - $ (9,652,846 ) 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. CARBONMETA TECHNOLOGIES, INC. NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS For the three months ended March 31, 2023 and 2022 (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 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 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 three months ended March 31, 2023 and 2022 were $ 9,330 4,099 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 The Company currently has convertible debt and preferred stock, which, if converted, as of March 31, 2023 and 2022, would have caused the Company to issue diluted shares totaling 39,570,016,202 36,345,298,945 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 March 31, 2023 and December 31, 2022, 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% 129,724 127,728 15,969 15,969 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 CONDENSED CONSOLIDATED FINANCIAL STATEMENTS For the three months ended March 31, 2023 and 2022 (Unaudited) |
GOING CONCERN
GOING CONCERN | 3 Months Ended |
Mar. 31, 2023 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
GOING CONCERN | NOTE C – GOING CONCERN The Company has a working capital deficit of $ 33,484,351 24,786,737 72,811,862 64,003,956 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 | 3 Months Ended |
Mar. 31, 2023 | |
Property, Plant and Equipment [Abstract] | |
PROPERTY AND EQUIPMENT, NET | NOTE D – PROPERTY AND EQUIPMENT, NET Property and equipment, net, consists of the following at March 31, 2023 and December 31, 2022: SCHEDULE OF PROPERTY AND EQUIPMENT March 31, December 31, 2023 2022 Computer equipment and software $ 1,325 $ 1,325 Filament production equipment 45,799 45,799 Subtotal 47,124 47,124 Less: accumulated depreciation (22,065 ) (18,235 ) Property and equipment, net $ 25,059 $ 28,889 Depreciation of equipment expense for the three months ended March 31, 2023 and 2022 was $ 3,830 3,830 |
LICENSES, NET
LICENSES, NET | 3 Months Ended |
Mar. 31, 2023 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
LICENSES, NET | NOTE E – LICENSES, NET The licenses, net, consist of the following at March 31, 2023 and December 31, 2022: SCHEDULE OF LICENSES, NET March 31, December 31, 2023 2022 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 91,247 Subtotal 170,503 170,503 Accumulated amortization (38,683 ) (32,229 ) License, net $ 131,820 $ 138,274 Amortization of licenses expense for the three months ended March 31, 2023 and 2022 was $ 6,454 7,904 At March 31, 2023, the expected future amortization of licenses expense was: SCHEDULE OF FUTURE AMORTIZATION OF LICENSE EXPENSE Fiscal year ending December 31: 2023 (excluding the three months ended March 31, 2023) $ 19,721 2024 26,175 2025 26,175 2026 26,175 2027 10,327 Thereafter 23,247 Total $ 131,820 CARBONMETA TECHNOLOGIES, INC. NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS For the three months ended March 31, 2023 and 2022 (Unaudited) |
ACCOUNTS PAYABLE AND ACCRUED EX
ACCOUNTS PAYABLE AND ACCRUED EXPENSES | 3 Months Ended |
Mar. 31, 2023 | |
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 March 31, 2023 and December 31, 2022: SCHEDULE OF ACCOUNTS PAYABLE AND ACCRUED EXPENSES March 31, December 31, 2023 2022 Accounts payable $ 1,434,772 $ 1,434,142 Accrued interest 6,621,051 6,362,570 Accrued CEO compensation 912,000 874,500 Accrued CarbonMeta Research, Ltd. Board of Directors fees 78,403 63,314 Accrued payroll 110,335 110,335 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 50,000 Accrued dividends on Series B Preferred Stock 15,969 15,969 License fee and minimum royalty payable to Ecomena Limited 13,624 13,624 Other 90,871 82,074 Total $ 11,777,941 $ 11,457,444 The accounts payable of $ 1,434,772 SCHEDULE OF INFORMATION ABOUT LIABILITIES March 31, 2023 CarbonMeta Technologies, Inc. $ 230,303 CoroWare Technologies, Inc. 1,157,662 CoroWare Robotics Solutions, Inc. 34,353 Carbon Source, Inc. 3,197 AriCon, LLC 9,257 Total $ 1,434,772 The payroll taxes payable of $ 1,998,735 221,188 1,400,000 534,457 106,891 |
OBLIGATIONS COLLATERALIZED BY R
OBLIGATIONS COLLATERALIZED BY RECEIVABLES, NET | 3 Months Ended |
Mar. 31, 2023 | |
Obligations Collateralized By Receivables Net | |
OBLIGATIONS COLLATERALIZED BY RECEIVABLES, NET | NOTE G – OBLIGATIONS COLLATERALIZED BY RECEIVABLES, NET Obligations collateralized by receivables consist of: SCHEDULE OF OBLIGATIONS COLLATERIZED BY RECEIVABLES March 31, December 31, 2023 2022 Knight Capital July 16, 2015 arrangement $ - $ - 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. NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS For the three months ended March 31, 2023 and 2022 (Unaudited) |
CONVERTIBLE DEBT, NET
CONVERTIBLE DEBT, NET | 3 Months Ended |
Mar. 31, 2023 | |
Convertible Debt Net | |
CONVERTIBLE DEBT, NET | NOTE H – CONVERTIBLE DEBT, NET Convertible debt, net, consists of: SCHEDULE OF CONVERTIBLE DEBT, NET Principal Balance at Accrued Interest Lender Interest Rate Default Rate Conversion Price March 31, 2023 December 31, March 31, December 31, Westmount Holdings International, Ltd – loan date January 12, 2010 due on demand 14.00 % 14.00 % (1 ) $ 537,317 $ 537,317 $ 986,817 $ 968,268 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 75,000 125,918 122,219 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, in technical default 10.00 % 20.00 % $ 0.001 105,000 105,000 17,864 15,275 Tangiers Investment Group, LLC – loan date September 8, 2021 and due date of September 8, 2022, in technical default 10.00 % 20.00 % $ 0.001 105,000 105,000 16,368 13,779 Tangiers Investment Group, LLC – loan date March 21, 2022 and due date of March 21, 2023, in technical default 12.00 % 16.00 % $ 0.0002 55,000 55,000 6,781 5,153 Lloyd T. Spencer (the Company’s sole officer and director) – loan date March 7, 2022 and due date of March 7, 2023, in technical default 12.00 % 16.00 % $ 0.0002 31,300 66,000 7,699 6,488 Dakota Capital Pty, Ltd – loan date April 8, 2014 and due date of December 31, 2014, in technical default 14.00 % 14.00 % (3 ) 200,000 200,000 251,386 244,482 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 63,921 62,319 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 68,263 64,897 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 39,630 38,704 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 47,295 44,867 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 25,433 25,227 Raphael Cariou – loan date March 12, 2015 and due date of September 12, 2015, in technical default 24.00 % 29.00 % (4 ) 82,178 82,178 740,187 684,080 Raphael Cariou - loan date March 12, 2015 and due date of September 12, 2015, in technical default 24.00 % 29.00 % (4 ) 94,178 94,178 829,777 766,739 Redwood Management, LLC – loan date of March 21, 2011 and due date of March 18, 2013, in technical default 14.00 % 14.00 % (1 ) 123,936 123,936 174,959 170,680 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 8,640 122,351 117,931 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 42,000 129,214 123,437 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 50,000 146,263 144,414 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 50,000 146,263 144,414 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 54,810 52,363 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 97,298 92,994 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 65,711 63,817 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 38,264 37,044 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 49,284 47,863 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 46,308 45,354 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 6,985 130,182 125,231 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 5,109 4,912 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 7,595 7,502 Richard Wynns - loan date July 26, 2010 and due date of December 31, 2011, in technical default 10.00 % 10.00 % (5 ) 93,997 93,997 119,821 117,472 MacRab LLC – loan date May 10, 2022 and due date of May 10, 2023 12.00 % 16.00 % $ 0.0002 33,056 33,056 3,532 2,554 BHP Capital NY Inc. - loan date July 14, 2022 and due date of July 14, 2023 12.00 % 12.00 % $ 0.0002 - 25,000 1,917 1,397 Quick Capital LLC - loan date July 14, 2022 and due date of July 14, 2023 12.00 % 12.00 % $ 0.0002 25,000 25,000 2,137 1,397 Quick Capital LLC - loan date November 1, 2022 and due date of November 1, 2023 12.00 % 16.00 % $ 0.0002 10,000 10,000 496 201 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 10,000 851 556 Robert Papiri Defined Benefit Plan - loan date November 16, 2022 and due date of November 16, 2023 12.00 % 16.00 % $ 0.0002 10,000 10,000 444 148 Robert Papiri Defined Benefit Plan - loan date December 11, 2022 and due date of December 11, 2023 12.00 % 16.00 % 0.0002 5,000 5,000 181 33 Robert Papiri Defined Contribution Plan - loan date July 15, 2022 and due date of July 15, 2023 12.00 % 16.00 % $ 0.0002 2,500 2,500 213 139 RPG Capital Partners, Inc - loan date July 15, 2022 and due date of July 15, 2023 12.00 % 16.00 % $ 0.0002 2,500 2,500 213 139 RPG Capital Partners, Inc - loan date August 4, 2022 and due date of August 4, 2023 12.00 % 16.00 % $ 0.0002 25,000 25,000 1,964 1,225 RPG Capital Partners, Inc - loan date September 12, 2022 and due date of September 12, 2023 12.00 % 16.00 % $ 0.0002 15,000 15,000 986 542 Total 2,217,959 2,277,659 4,680,036 4,471,583 Less debt discounts (53,430 ) (117,625 ) - - Net $ 2,164,529 $ 2,160,034 $ 4,680,036 $ 4,471,583 (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. NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS For the three months ended March 31, 2023 and 2022 (Unaudited) NOTE H – CONVERTIBLE DEBT, NET (continued) In the Company’s evaluation of each convertible debt instrument in accordance with FASB ASC 815, Derivatives and Hedging see NOTE L – DERIVATIVE LIABILITY 53,430 117,625 |
NOTES PAYABLE
NOTES PAYABLE | 3 Months Ended |
Mar. 31, 2023 | |
Debt Disclosure [Abstract] | |
NOTES PAYABLE | NOTE I – NOTES PAYABLE Notes payable consist of: SCHEDULE OF NOTES PAYABLE Principal Balance Accrued Interest Balance Description (i) March 31, 2023 December 31, 2022 March 31, 2023 December 31, 2022 Total $ 154,873 $ 154,873 $ 722,544 $ 689,927 Gary Sumner June 29, 2017 5 18 March 31, 2018 $ 45,000 $ 45,000 $ 116,253 $ 114,255 LTC International Corp July 3, 2018 20.8 41.6 December 17, 2018 4,732 4,732 31,192 30,707 Richard Wynns July 27, 2010 18 21 January 23, 2011 25,000 25,000 317,692 300,313 Barclay Lyons March 15, 2011 18.99 28.99 March 25, 2011 15,000 15,000 52,343 51,271 John Kroon March 17, 2010 18 21 September 13, 2010 10,000 10,000 137,843 130,345 Walter Jay Bell October 18, 2013 10 November 29, 2013 10,000 10,000 9,504 9,257 Walter Jay Bell April 24, 2016 10 September 30, 2016 8,641 8,641 3,021 2,915 George Ferch March 29, 2011 0 21 June 27, 2011 5,000 5,000 52,450 49,536 Blackridge, LLC April 11, 2012 5 5 May 25, 2012 1,500 1,500 1,046 1,027 Michael Sobeck August 16, 2022 12 August 16, 2023 30,000 30,000 1,200 300 Total $ 154,873 $ 154,873 $ 722,544 $ 689,927 (i) Unless otherwise noted, interest is simple interest. CARBONMETA TECHNOLOGIES, INC. NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS For the three months ended March 31, 2023 and 2022 (Unaudited) |
NOTES PAYABLE, RELATED PARTIES
NOTES PAYABLE, RELATED PARTIES | 3 Months Ended |
Mar. 31, 2023 | |
Notes Payable Related Parties | |
NOTES PAYABLE, RELATED PARTIES | NOTE J – NOTES PAYABLE, RELATED PARTIES As of March 31, 2023 and December 31, 2022, the Company had an aggregate total of $ 199,415 199,415 related party notes payable 10 18 10 24 478,825 468,562 |
SMALL BUSINESS ADMINISTRATION L
SMALL BUSINESS ADMINISTRATION LOAN | 3 Months Ended |
Mar. 31, 2023 | |
Small Business Administration Loan | |
SMALL BUSINESS ADMINISTRATION LOAN | NOTE K – SMALL BUSINESS ADMINISTRATION LOAN On April 17, 2002, the Company borrowed $ 989,100 4 979,950 979,950 4,813 The Company and the Small Business Administration reached an agreement in November 2010, whereby the Small Business Administration would accept $ 500 4,813 742,388 732,497 |
DERIVATIVE LIABILITY
DERIVATIVE LIABILITY | 3 Months Ended |
Mar. 31, 2023 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
DERIVATIVE LIABILITY | NOTE L – DERIVATIVE LIABILITY 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 CONDENSED CONSOLIDATED FINANCIAL STATEMENTS For the three months ended March 31, 2023 and 2022 (Unaudited) 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 March 31, 2023 and December 31, 2022: SUMMARY OF DERIVATIVE LIABILITIES March 31, 2023 December 31, 2022 Risk-free interest rate 4.72 % 4.41 % Expected options life 1 2 1 2 Expected dividend yield - - Expected price volatility 289 % 341 % For the three months ended March 31, 2023, the Company’s derivative liability increased from $ 9,652,846 18,009,660 8,356,814 11,904,070 12,475,165 571,095 |
PREFERRED STOCK
PREFERRED STOCK | 3 Months Ended |
Mar. 31, 2023 | |
Equity [Abstract] | |
PREFERRED STOCK | NOTE M – PREFERRED STOCK a) Series A Preferred Stock The Company has authorized 125,000 5 3,000 (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) 75% of the average closing bid prices over the 20 trading days immediately preceding the date of conversion 1.00 five years 1.30 There were no issuances, conversions or redemptions of Series A Preferred Stock during the three months ended March 31, 2023 and year ended December 31, 2022. At March 31, 2023 and December 31, 2022, the Company had 0 0 b) Series B Preferred Stock The Company has authorized 525,000 5 3,000 (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) 75% of the average closing bid prices over the 20 trading days immediately preceding the date of conversion 1.00 five years 1.30 CARBONMETA TECHNOLOGIES, INC. NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS For the three months ended March 31, 2023 and 2022 (Unaudited) NOTE M – PREFERRED STOCK (continued) There were no issuances, conversions or redemptions of Series B Preferred Stock during the three months ended March 31, 2023 and year ended December 31, 2022. At March 31, 2023 and December 31, 2022, the Company had 159,666 159,666 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 $ 265,467 145,763 119,704 19,434 c) Series C Preferred Stock The Company has authorized 500,000 500,000 1.00 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 0.04 0.06 five years There were no issuances, conversions or redemptions of Series C Preferred Stock during the three months ended March 31, 2023 and year ended December 31, 2022. At March 31, 2023 and December 31, 2022, the Company had 0 0 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 $0.001 1.00 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. 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 three months ended March 31, 2023 and year ended December 31, 2022. At March 31, 2023 and December 31, 2022, the Company had 100,000 100,000 CARBONMETA TECHNOLOGIES, INC. NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS For the three months ended March 31, 2023 and 2022 (Unaudited) 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 $ 241,836 and $ 197,877 as of March 31, 2023 and December 31, 2022, respectively. These amounts are included as a derivative liability on the Company’s consolidated balance sheet. Fair value adjustments of ($ 43,959) and $ 49,861 were credited (charged) to derivative income (expense) for the three months ended March 31, 2023 and 2022, 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 0.001 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 three months ended March 31, 2023 and year ended December 31, 2022. At March 31, 2023 and December 31, 2022, the Company had 821,377 821,377 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 $ 1,986,389 and $ 1,625,314 as of March 31, 2023 and December 31, 2022, respectively. These amounts are included as a derivative liability on the Company’s consolidated balance sheet. Fair value adjustments of ($ 361,075) and ($ 381,614 were credited (charged) to derivative income (expense) for the three months ended March 31, 2023 and 2022, 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 $0.001 CARBONMETA TECHNOLOGIES, INC. NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS For the three months ended March 31, 2023 and 2022 (Unaudited) NOTE M – PREFERRED STOCK (continued) The shares of Series F Preferred Stock have a stated value of $ 1.00 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. There were no issuances, conversions or redemptions of Series F Preferred Stock during the three months ended March 31, 2023 and year ended December 31, 2022. At March 31, 2023 and December 31, 2022, the Company had 190,000 190,000 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 $459,489 and $375,966 as of March 31, 2023 and December 31, 2022, respectively. These amounts are included as a derivative liability on the Company’s consolidated balance sheet. Fair value adjustments of ($ 83,523) and $ 94,736 were credited (charged) to derivative income (expense) for the three months ended March 31, 2023 and 2022, 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 0.001 The shares of Series G Preferred Stock have a stated value of $ 1.00 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 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 three months ended March 31, 2023 and year ended December 31, 2022. At March 31, 2023 and December 31, 2022, the Company had 25,000 25,000 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 CONDENSED CONSOLIDATED FINANCIAL STATEMENTS For the three months ended March 31, 2023 and 2022 (Unaudited) 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 $ 60,459 49,469 10,990) 12,465 |
COMMON STOCK AND TREASURY STOCK
COMMON STOCK AND TREASURY STOCK | 3 Months Ended |
Mar. 31, 2023 | |
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 0.0001 19,245,422,812 18,643,205,254 Issuances during the three months ended March 31, 2023: On January 25, 2023, the Company issued 173,500,000 34,700 On February 15, 2023, the Company issued 155,833,562 25,000 2,500 1,750 1,917 On March 3, 2023, the Company issued 200,000,000 Issuances during the year ended December 31, 2022: On January 21, 2022, the Company issued 206,896,552 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 On May 10, 2022, the Company issued 16,527,775 33,056 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 On November 7, 2022, the Company issued 2,500,000 2,500 On November 16, 2022, the Company issued 17,000,000 10,000 CARBONMETA TECHNOLOGIES, INC. NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS For the three months ended March 31, 2023 and 2022 (Unaudited) NOTE N – COMMON STOCK AND TREASURY STOCK (continued) Treasury Stock As of March 31, 2023 and December 31, 2022, the Company held 115,297,004 188,181,000 |
STOCK OPTIONS AND WARRANTS
STOCK OPTIONS AND WARRANTS | 3 Months Ended |
Mar. 31, 2023 | |
Share-Based Payment Arrangement [Abstract] | |
STOCK OPTIONS AND WARRANTS | NOTE O – STOCK OPTIONS AND WARRANTS At March 31, 2023, the Company has outstanding a total of 1,146,000,000 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 1 March 7, 2023 12% 0.0002 16% 165,000,000 0.0004 (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 1 March 21, 2023 12% 0.0002 16% 125,000,000 0.0004 (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 CARBONMETA TECHNOLOGIES, INC. NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS For the three months ended March 31, 2023 and 2022 (Unaudited) NOTE O – STOCK OPTIONS AND WARRANTS (continued) (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 16% 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 16% five 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 12% 0.0002 16% 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 12% 0.0002 16% five 25,000,000 0.0004 85,000,000 (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 12% 0.0002 16% 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 12% 0.0002 16% five-year 6,250,000 0.0004 21,250,000 CARBONMETA TECHNOLOGIES, INC. NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS For the three months ended March 31, 2023 and 2022 (Unaudited) NOTE O – STOCK OPTIONS AND WARRANTS (continued) (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 12% 0.0002 16% 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 12% 0.0002 16% five 37,500,000 0.0004 212,500,000 |
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 3 Months Ended |
Mar. 31, 2023 | |
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 and the automatic renewal of successive one year periods unless terminated and provides for compensation to Spencer of $ 12,500 For the three months ended March 31, 2023 and 2022, chief executive officer compensation expense was $ 37,500 37,500 912,000 874,500 Major Customer For the three months ended March 31, 2023, one customer (located in Spain) accounted for 100% CARBONMETA TECHNOLOGIES, INC. NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS For the three months ended March 31, 2023 and 2022 (Unaudited) |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 3 Months Ended |
Mar. 31, 2023 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | NOTE Q – SUBSEQUENT EVENTS On April 8, 2023, CarbonMeta Technologies, Inc. (the “Company”) and Fermion Electric Private Limited (“Fermion”) signed a Memorandum of Understanding (MOU) to create a subsidiary corporation called CarbonMeta Research India as a Private Limited Company that shall be jointly owned and managed by the Company and Fermion, and whose initial objective shall be processing natural gas into hydrogen and high value carbon products. Under the terms of the MOU: CarbonMeta Research India will be a Private Limited Company in Kerala, India with initial equity ownership as follows: ● 80% ● 20% CarbonMeta Research India will be a research and development center whose focus will be on: ● Microwave catalysis of waste plastics, natural gas, and other organic waste materials; ● Carbon dioxide (CO2) capture technologies using novel technologies and adsorbents; ● Development of new catalysts for catalysis, pyrolysis, and electrolysis; and ● Commercialize and patent technologies that were developed and licensed by CarbonMeta Technologies, Inc. or its subsidiaries. On April 21, 2023, CarbonMeta Technologies, Inc. (the “Company”) and North Bay Resources, Inc. (“NBRI”) signed a Memorandum of Understanding (MOU) to create a subsidiary corporation called CarbonMeta Green Resources Canada as a Limited Liability Company in British Columbia that shall be jointly owned and managed by NBRI and the Company, and whose objective shall be production of carbon-negative cementless concrete using olivine. Under the terms of the MOU: CarbonMeta Green Resources Canada will be a Limited Liability Company in British Columbia, Canada with initial equity ownership as follows: ● 51% ● 49% CarbonMeta Green Resources Canada will be a research and development center whose focus will be on: ● Establish CarbonMeta Green Resources Canada as a mining and processing center for the production of carbon-negative cementless concrete using olivine ● Build and operate a production facility and demonstration program for the production of carbon-negative cementless concrete that can be distributed in North America. ● Establish an agreed upon transfer price from NBRI to CarbonMeta Green Resources Canada for purchasing olivine that shall be updated quarterly. ● Develop and establish supply chain relationships with potential North American distributors of carbon-negative cementless concrete, including but not limited to CarbonMeta Green Building Materials, Inc. in the United States ● Establish technology licensing relationships, industry partnerships, and marketing sponsorships related to the production of carbon-negative cementless concrete using olivine The MOU is effective from the date executed by the parties and shall continue in force until terminated by either party giving the other party at least 30 business days prior written notice. The parties agree to execute definitive agreements within 30 days, at which time those agreements will supersede this MOU as of the effective date of the executed definitive agreements. |
SIGNIFICANT ACCOUNTING POLICI_2
SIGNIFICANT ACCOUNTING POLICIES (Policies) | 3 Months Ended |
Mar. 31, 2023 | |
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 three months ended March 31, 2023 are not necessarily indicative of results that may be expected for the year ending December 31, 2023. The balance sheet information as of December 31, 2022 was derived from the audited financial statements included in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission on April 20, 2023. These financial statements should be read in conjunction with that report. |
Principles of Consolidation | Principles of Consolidation The consolidated financial statements include the accounts of CarbonMeta Technologies, Inc. and its six wholly-owned subsidiaries, CoroWare Technologies, Inc., CoroWare Robotics Solutions, Inc., Robotic Workspace Technologies, Inc., Carbon Source, Inc., CoroWare Treasury, Inc., and CarbonMeta Research Ltd., and its two majority owned subsidiaries CarbonMeta Green Building Materials, LLC and 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. |
Foreign Currency Translation | Foreign Currency Translation The accompanying consolidated financial statements are presented in United States dollars (“$”), which is the reporting currency of the Company. The functional currency of CarbonMeta Research Ltd. (“CMR”) is the Great Britain pound (“GBP”); the functional currency of the Company and its other subsidiaries is the United States dollar. The assets and liabilities of CMR are translated at the GBR currency exchange rate at the end of the period ($ 1.236823 1.223491 |
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 |
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 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 |
Licenses | Licenses The licenses acquired from Oxford University Innovation Limited and Ecomena Limited ( see Note A 10 5 CARBONMETA TECHNOLOGIES, INC. NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS For the three months ended March 31, 2023 and 2022 (Unaudited) NOTE B – SIGNIFICANT ACCOUNTING POLICIES (continued) |
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 |
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. |
Segment Reporting | Segment Reporting FASB ASC 280-10, Segment Reporting one |
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 consolidated financial statements for cash, 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. CARBONMETA TECHNOLOGIES, INC. NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS For the three months ended March 31, 2023 and 2022 (Unaudited) NOTE B – SIGNIFICANT ACCOUNTING POLICIES (continued) 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. The following table presents assets and liabilities that are measured and recognized at fair value as of March 31, 2023 and December 31, 2022, on a recurring basis: SUMMARY OF ASSETS AND LIABILITIES MEASURED AND RECOGNIZED AT FAIR VALUE Assets and liabilities measured at fair value on a recurring basis at March 31, 2023 Level 1 Level 2 Level 3 Total Carrying Value Derivative liabilities $ - $ (18,009,660 ) $ - $ (18,009,660 ) Assets and liabilities measured at fair value on a recurring basis at December 31, 2022 Level 1 Level 2 Level 3 Total Carrying Derivative liabilities $ - $ (9,652,846 ) $ - $ (9,652,846 ) |
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. CARBONMETA TECHNOLOGIES, INC. NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS For the three months ended March 31, 2023 and 2022 (Unaudited) NOTE B – SIGNIFICANT ACCOUNTING POLICIES (continued) |
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. |
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. |
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 three months ended March 31, 2023 and 2022 were $ 9,330 4,099 |
Basic and Diluted 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 The Company currently has convertible debt and preferred stock, which, if converted, as of March 31, 2023 and 2022, would have caused the Company to issue diluted shares totaling 39,570,016,202 36,345,298,945 |
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 March 31, 2023 and December 31, 2022, 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% 129,724 127,728 15,969 15,969 |
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. |
SIGNIFICANT ACCOUNTING POLICI_3
SIGNIFICANT ACCOUNTING POLICIES (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
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 |
SUMMARY OF ASSETS AND LIABILITIES MEASURED AND RECOGNIZED AT FAIR VALUE | The following table presents assets and liabilities that are measured and recognized at fair value as of March 31, 2023 and December 31, 2022, on a recurring basis: SUMMARY OF ASSETS AND LIABILITIES MEASURED AND RECOGNIZED AT FAIR VALUE Assets and liabilities measured at fair value on a recurring basis at March 31, 2023 Level 1 Level 2 Level 3 Total Carrying Value Derivative liabilities $ - $ (18,009,660 ) $ - $ (18,009,660 ) Assets and liabilities measured at fair value on a recurring basis at December 31, 2022 Level 1 Level 2 Level 3 Total Carrying Derivative liabilities $ - $ (9,652,846 ) $ - $ (9,652,846 ) |
PROPERTY AND EQUIPMENT, NET (Ta
PROPERTY AND EQUIPMENT, NET (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Property, Plant and Equipment [Abstract] | |
SCHEDULE OF PROPERTY AND EQUIPMENT | Property and equipment, net, consists of the following at March 31, 2023 and December 31, 2022: SCHEDULE OF PROPERTY AND EQUIPMENT March 31, December 31, 2023 2022 Computer equipment and software $ 1,325 $ 1,325 Filament production equipment 45,799 45,799 Subtotal 47,124 47,124 Less: accumulated depreciation (22,065 ) (18,235 ) Property and equipment, net $ 25,059 $ 28,889 |
LICENSES, NET (Tables)
LICENSES, NET (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
SCHEDULE OF LICENSES, NET | The licenses, net, consist of the following at March 31, 2023 and December 31, 2022: SCHEDULE OF LICENSES, NET March 31, December 31, 2023 2022 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 91,247 Subtotal 170,503 170,503 Accumulated amortization (38,683 ) (32,229 ) License, net $ 131,820 $ 138,274 |
SCHEDULE OF FUTURE AMORTIZATION OF LICENSE EXPENSE | At March 31, 2023, the expected future amortization of licenses expense was: SCHEDULE OF FUTURE AMORTIZATION OF LICENSE EXPENSE Fiscal year ending December 31: 2023 (excluding the three months ended March 31, 2023) $ 19,721 2024 26,175 2025 26,175 2026 26,175 2027 10,327 Thereafter 23,247 Total $ 131,820 |
ACCOUNTS PAYABLE AND ACCRUED _2
ACCOUNTS PAYABLE AND ACCRUED EXPENSES (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Payables and Accruals [Abstract] | |
SCHEDULE OF ACCOUNTS PAYABLE AND ACCRUED EXPENSES | Accounts payable and accrued expenses consists of the following at March 31, 2023 and December 31, 2022: SCHEDULE OF ACCOUNTS PAYABLE AND ACCRUED EXPENSES March 31, December 31, 2023 2022 Accounts payable $ 1,434,772 $ 1,434,142 Accrued interest 6,621,051 6,362,570 Accrued CEO compensation 912,000 874,500 Accrued CarbonMeta Research, Ltd. Board of Directors fees 78,403 63,314 Accrued payroll 110,335 110,335 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 50,000 Accrued dividends on Series B Preferred Stock 15,969 15,969 License fee and minimum royalty payable to Ecomena Limited 13,624 13,624 Other 90,871 82,074 Total $ 11,777,941 $ 11,457,444 |
SCHEDULE OF INFORMATION ABOUT LIABILITIES | SCHEDULE OF INFORMATION ABOUT LIABILITIES March 31, 2023 CarbonMeta Technologies, Inc. $ 230,303 CoroWare Technologies, Inc. 1,157,662 CoroWare Robotics Solutions, Inc. 34,353 Carbon Source, Inc. 3,197 AriCon, LLC 9,257 Total $ 1,434,772 |
OBLIGATIONS COLLATERALIZED BY_2
OBLIGATIONS COLLATERALIZED BY RECEIVABLES, NET (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Obligations Collateralized By Receivables Net | |
SCHEDULE OF OBLIGATIONS COLLATERIZED BY RECEIVABLES | Obligations collateralized by receivables consist of: SCHEDULE OF OBLIGATIONS COLLATERIZED BY RECEIVABLES March 31, December 31, 2023 2022 Knight Capital July 16, 2015 arrangement $ - $ - 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 |
CONVERTIBLE DEBT, NET (Tables)
CONVERTIBLE DEBT, NET (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Convertible Debt Net | |
SCHEDULE OF CONVERTIBLE DEBT, NET | Convertible debt, net, consists of: SCHEDULE OF CONVERTIBLE DEBT, NET Principal Balance at Accrued Interest Lender Interest Rate Default Rate Conversion Price March 31, 2023 December 31, March 31, December 31, Westmount Holdings International, Ltd – loan date January 12, 2010 due on demand 14.00 % 14.00 % (1 ) $ 537,317 $ 537,317 $ 986,817 $ 968,268 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 75,000 125,918 122,219 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, in technical default 10.00 % 20.00 % $ 0.001 105,000 105,000 17,864 15,275 Tangiers Investment Group, LLC – loan date September 8, 2021 and due date of September 8, 2022, in technical default 10.00 % 20.00 % $ 0.001 105,000 105,000 16,368 13,779 Tangiers Investment Group, LLC – loan date March 21, 2022 and due date of March 21, 2023, in technical default 12.00 % 16.00 % $ 0.0002 55,000 55,000 6,781 5,153 Lloyd T. Spencer (the Company’s sole officer and director) – loan date March 7, 2022 and due date of March 7, 2023, in technical default 12.00 % 16.00 % $ 0.0002 31,300 66,000 7,699 6,488 Dakota Capital Pty, Ltd – loan date April 8, 2014 and due date of December 31, 2014, in technical default 14.00 % 14.00 % (3 ) 200,000 200,000 251,386 244,482 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 63,921 62,319 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 68,263 64,897 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 39,630 38,704 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 47,295 44,867 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 25,433 25,227 Raphael Cariou – loan date March 12, 2015 and due date of September 12, 2015, in technical default 24.00 % 29.00 % (4 ) 82,178 82,178 740,187 684,080 Raphael Cariou - loan date March 12, 2015 and due date of September 12, 2015, in technical default 24.00 % 29.00 % (4 ) 94,178 94,178 829,777 766,739 Redwood Management, LLC – loan date of March 21, 2011 and due date of March 18, 2013, in technical default 14.00 % 14.00 % (1 ) 123,936 123,936 174,959 170,680 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 8,640 122,351 117,931 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 42,000 129,214 123,437 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 50,000 146,263 144,414 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 50,000 146,263 144,414 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 54,810 52,363 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 97,298 92,994 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 65,711 63,817 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 38,264 37,044 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 49,284 47,863 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 46,308 45,354 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 6,985 130,182 125,231 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 5,109 4,912 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 7,595 7,502 Richard Wynns - loan date July 26, 2010 and due date of December 31, 2011, in technical default 10.00 % 10.00 % (5 ) 93,997 93,997 119,821 117,472 MacRab LLC – loan date May 10, 2022 and due date of May 10, 2023 12.00 % 16.00 % $ 0.0002 33,056 33,056 3,532 2,554 BHP Capital NY Inc. - loan date July 14, 2022 and due date of July 14, 2023 12.00 % 12.00 % $ 0.0002 - 25,000 1,917 1,397 Quick Capital LLC - loan date July 14, 2022 and due date of July 14, 2023 12.00 % 12.00 % $ 0.0002 25,000 25,000 2,137 1,397 Quick Capital LLC - loan date November 1, 2022 and due date of November 1, 2023 12.00 % 16.00 % $ 0.0002 10,000 10,000 496 201 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 10,000 851 556 Robert Papiri Defined Benefit Plan - loan date November 16, 2022 and due date of November 16, 2023 12.00 % 16.00 % $ 0.0002 10,000 10,000 444 148 Robert Papiri Defined Benefit Plan - loan date December 11, 2022 and due date of December 11, 2023 12.00 % 16.00 % 0.0002 5,000 5,000 181 33 Robert Papiri Defined Contribution Plan - loan date July 15, 2022 and due date of July 15, 2023 12.00 % 16.00 % $ 0.0002 2,500 2,500 213 139 RPG Capital Partners, Inc - loan date July 15, 2022 and due date of July 15, 2023 12.00 % 16.00 % $ 0.0002 2,500 2,500 213 139 RPG Capital Partners, Inc - loan date August 4, 2022 and due date of August 4, 2023 12.00 % 16.00 % $ 0.0002 25,000 25,000 1,964 1,225 RPG Capital Partners, Inc - loan date September 12, 2022 and due date of September 12, 2023 12.00 % 16.00 % $ 0.0002 15,000 15,000 986 542 Total 2,217,959 2,277,659 4,680,036 4,471,583 Less debt discounts (53,430 ) (117,625 ) - - Net $ 2,164,529 $ 2,160,034 $ 4,680,036 $ 4,471,583 (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 |
NOTES PAYABLE (Tables)
NOTES PAYABLE (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Debt Disclosure [Abstract] | |
SCHEDULE OF NOTES PAYABLE | Notes payable consist of: SCHEDULE OF NOTES PAYABLE Principal Balance Accrued Interest Balance Description (i) March 31, 2023 December 31, 2022 March 31, 2023 December 31, 2022 Total $ 154,873 $ 154,873 $ 722,544 $ 689,927 Gary Sumner June 29, 2017 5 18 March 31, 2018 $ 45,000 $ 45,000 $ 116,253 $ 114,255 LTC International Corp July 3, 2018 20.8 41.6 December 17, 2018 4,732 4,732 31,192 30,707 Richard Wynns July 27, 2010 18 21 January 23, 2011 25,000 25,000 317,692 300,313 Barclay Lyons March 15, 2011 18.99 28.99 March 25, 2011 15,000 15,000 52,343 51,271 John Kroon March 17, 2010 18 21 September 13, 2010 10,000 10,000 137,843 130,345 Walter Jay Bell October 18, 2013 10 November 29, 2013 10,000 10,000 9,504 9,257 Walter Jay Bell April 24, 2016 10 September 30, 2016 8,641 8,641 3,021 2,915 George Ferch March 29, 2011 0 21 June 27, 2011 5,000 5,000 52,450 49,536 Blackridge, LLC April 11, 2012 5 5 May 25, 2012 1,500 1,500 1,046 1,027 Michael Sobeck August 16, 2022 12 August 16, 2023 30,000 30,000 1,200 300 Total $ 154,873 $ 154,873 $ 722,544 $ 689,927 (i) Unless otherwise noted, interest is simple interest. |
DERIVATIVE LIABILITY (Tables)
DERIVATIVE LIABILITY (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
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 March 31, 2023 and December 31, 2022: SUMMARY OF DERIVATIVE LIABILITIES March 31, 2023 December 31, 2022 Risk-free interest rate 4.72 % 4.41 % Expected options life 1 2 1 2 Expected dividend yield - - Expected price volatility 289 % 341 % |
STOCK OPTIONS AND WARRANTS (Tab
STOCK OPTIONS AND WARRANTS (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
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 1 March 7, 2023 12% 0.0002 16% 165,000,000 0.0004 (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 1 March 21, 2023 12% 0.0002 16% 125,000,000 0.0004 (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 CARBONMETA TECHNOLOGIES, INC. NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS For the three months ended March 31, 2023 and 2022 (Unaudited) NOTE O – STOCK OPTIONS AND WARRANTS (continued) (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 16% 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 16% five 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 12% 0.0002 16% 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 12% 0.0002 16% five 25,000,000 0.0004 85,000,000 (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 12% 0.0002 16% 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 12% 0.0002 16% five-year 6,250,000 0.0004 21,250,000 CARBONMETA TECHNOLOGIES, INC. NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS For the three months ended March 31, 2023 and 2022 (Unaudited) NOTE O – STOCK OPTIONS AND WARRANTS (continued) (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 12% 0.0002 16% 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 12% 0.0002 16% five 37,500,000 0.0004 212,500,000 |
ORGANIZATION (Details Narrative
ORGANIZATION (Details Narrative) | 1 Months Ended | 3 Months Ended | |||||||||||
Jun. 10, 2022 EUR (€) | Jan. 11, 2022 shares | Dec. 02, 2021 | Jun. 02, 2021 USD ($) | Jun. 02, 2021 EUR (€) | Jan. 31, 2023 EUR (€) | Oct. 31, 2022 EUR (€) | Feb. 17, 2022 USD ($) shares | Mar. 31, 2023 USD ($) | Mar. 31, 2023 EUR (€) | Dec. 31, 2022 USD ($) | Sep. 30, 2022 USD ($) | Mar. 31, 2022 USD ($) | |
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||||||||
Professional Fees | $ | $ 23,161 | $ 44,056 | |||||||||||
Royalty rate | 5% | 5% | |||||||||||
Number of shares issued | shares | 160,000,000 | ||||||||||||
Royalty rate payable, percentage | 5% | ||||||||||||
Proceeds from service awarded | € 50,000 | $ 49,542 | € 50,000 | $ 9,439 | $ 40,103 | ||||||||
Second Service Award [Member] | |||||||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||||||||
Proceeds from service awarded | € 50,000 | ||||||||||||
Proceeds from customer | € 20,000 | ||||||||||||
License Of Agreement [Member] | |||||||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||||||||
Signing fee payable | 20,000 | 27,247 | |||||||||||
Production Agreement [Member] | |||||||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||||||||
Managing membership units description | The Operating Agreement for Management of CMGBM (the “CMGBM Agreement”) provides for (1) the allocation of 501 Managing Membership units (50.1%) to CarbonMeta Technologies, Inc. (“COWI”) and 499 Managing Membership units (49.9%) to Salvum Corporation | ||||||||||||
Number of shares of common stock | shares | 250,000,000 | ||||||||||||
License Three [Member] | |||||||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||||||||
Royalty Expense | € 10,000 | $ 3,000 | |||||||||||
License Four [Member] | |||||||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||||||||
Royalty Expense | 20,000 | 1,000 | |||||||||||
License One [Member] | |||||||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||||||||
Royalty Expense | $ | 5,000 | ||||||||||||
License One [Member] | Licensee [Member] | |||||||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||||||||
Royalty Expense | $ | 10,000 | ||||||||||||
License Two [Member] | |||||||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||||||||
Royalty Expense | $ | $ 5,000 | ||||||||||||
License Agreement Terms [Member] | |||||||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||||||||
Professional Fees | 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 and Purchase Accounting Adjustments | 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 and Purchase Accounting Adjustments | 10,000 | ||||||||||||
License Agreement Terms [Member] | License [Member] | |||||||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||||||||
Revenues | $ 1,000,000 | € 50,000 | |||||||||||
CarbonMeta Green Building Materials, LLC [Member] | |||||||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||||||||
Ownership interest | 50.10% | 50.10% | |||||||||||
ARiCon, LLC [Member] | |||||||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||||||||
Ownership interest | 51% | 51% |
SUMMARY OF ESTIMATED USEFUL LIV
SUMMARY OF ESTIMATED USEFUL LIVES (Details) | Mar. 31, 2023 |
Computer Equipment and Software [Member] | |
Property, Plant and Equipment [Line Items] | |
Estimated useful lives | 5 years |
Filament Production Equipment [Member] | |
Property, Plant and Equipment [Line Items] | |
Estimated useful lives | 3 years |
SUMMARY OF ASSETS AND LIABILITI
SUMMARY OF ASSETS AND LIABILITIES MEASURED AND RECOGNIZED AT FAIR VALUE (Details) - USD ($) | Mar. 31, 2023 | Dec. 31, 2022 |
Platform Operator, Crypto-Asset [Line Items] | ||
Derivative liabilities | $ (18,009,660) | $ (9,652,846) |
Fair Value, Inputs, Level 1 [Member] | ||
Platform Operator, Crypto-Asset [Line Items] | ||
Derivative liabilities | ||
Fair Value, Inputs, Level 2 [Member] | ||
Platform Operator, Crypto-Asset [Line Items] | ||
Derivative liabilities | (18,009,660) | (9,652,846) |
Fair Value, Inputs, Level 3 [Member] | ||
Platform Operator, Crypto-Asset [Line Items] | ||
Derivative liabilities |
SIGNIFICANT ACCOUNTING POLICI_4
SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2023 USD ($) Segment shares | Mar. 31, 2022 USD ($) shares | Dec. 31, 2022 USD ($) | |
Product Information [Line Items] | |||
Cash equivalents | $ 0 | $ 0 | |
Number of Reportable Segments | Segment | 1 | ||
Research and development expenses | $ 9,330 | $ 4,099 | |
Antidilutive securities | shares | 39,570,016,202 | 36,345,298,945 | |
Dividend rate percentage | 5% | ||
Accrued unpaid declared dividends | $ 15,969 | 15,969 | |
Series B Preferred Stock [Member] | |||
Product Information [Line Items] | |||
Dividend rate percentage | 5% | ||
Dividends, preferred stock | $ 129,724 | $ 127,728 | |
Oxford License [Member] | |||
Product Information [Line Items] | |||
Estimated useful lives | 10 years | ||
Ecomena License [Member] | |||
Product Information [Line Items] | |||
Estimated useful lives | 5 years | ||
Assets and Liabilities [Member] | |||
Product Information [Line Items] | |||
Foreign currency exchange rate, translation | 1.236823 | ||
Revenues and Expenses [Member] | |||
Product Information [Line Items] | |||
Foreign currency exchange rate, translation | 1.223491 |
GOING CONCERN (Details Narrativ
GOING CONCERN (Details Narrative) - USD ($) | Mar. 31, 2023 | Dec. 31, 2022 |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Working capital deficit | $ 33,484,351 | $ 24,786,737 |
Accumulated deficits | $ 72,811,862 | $ 64,003,956 |
SCHEDULE OF PROPERTY AND EQUIPM
SCHEDULE OF PROPERTY AND EQUIPMENT (Details) - USD ($) | Mar. 31, 2023 | Dec. 31, 2022 |
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 | (22,065) | (18,235) |
Property and equipment, net | $ 25,059 | $ 28,889 |
PROPERTY AND EQUIPMENT, NET (De
PROPERTY AND EQUIPMENT, NET (Details Narrative) - USD ($) | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Property, Plant and Equipment [Abstract] | ||
Depreciation | $ 3,830 | $ 3,830 |
SCHEDULE OF LICENSES, NET (Deta
SCHEDULE OF LICENSES, NET (Details) - USD ($) | Mar. 31, 2023 | Dec. 31, 2022 |
Subtotal | $ 170,503 | $ 170,503 |
Accumulated amortization | (38,683) | (32,229) |
License, net | 131,820 | 138,274 |
Oxford University Innovation Limited [Member] | ||
Subtotal | 79,256 | 79,256 |
Ecomena Limited [Member] | ||
Subtotal | $ 91,247 | $ 91,247 |
SCHEDULE OF FUTURE AMORTIZATION
SCHEDULE OF FUTURE AMORTIZATION OF LICENSE EXPENSE (Details) | Mar. 31, 2023 USD ($) |
Goodwill and Intangible Assets Disclosure [Abstract] | |
2023 (excluding the three months ended March 31, 2023) | $ 19,721 |
2024 | 26,175 |
2025 | 26,175 |
2026 | 26,175 |
2027 | 10,327 |
Thereafter | 23,247 |
Total | $ 131,820 |
LICENSES, NET (Details Narrativ
LICENSES, NET (Details Narrative) - USD ($) | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Goodwill and Intangible Assets Disclosure [Abstract] | ||
Amortization of Intangible Assets | $ 6,454 | $ 7,904 |
SCHEDULE OF ACCOUNTS PAYABLE AN
SCHEDULE OF ACCOUNTS PAYABLE AND ACCRUED EXPENSES (Details) - USD ($) | Mar. 31, 2023 | Dec. 31, 2022 |
Payables and Accruals [Abstract] | ||
Accounts payable | $ 1,434,772 | $ 1,434,142 |
Accrued interest | 6,621,051 | 6,362,570 |
Accrued CEO compensation | 912,000 | 874,500 |
Accrued CarbonMeta Research, Ltd. Board of Directors fees | 78,403 | 63,314 |
Accrued payroll | 110,335 | 110,335 |
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 | 50,000 |
Accrued dividends on Series B Preferred Stock | 15,969 | 15,969 |
License fee and minimum royalty payable to Ecomena Limited | 13,624 | 13,624 |
Other | 90,871 | 82,074 |
Total | $ 11,777,941 | $ 11,457,444 |
SCHEDULE OF INFORMATION ABOUT L
SCHEDULE OF INFORMATION ABOUT LIABILITIES (Details) - USD ($) | Mar. 31, 2023 | Dec. 31, 2022 |
Total | $ 1,434,772 | $ 1,434,142 |
CarbonMeta Technologies, Inc.[Member] | ||
Total | 230,303 | |
CoroWare Technologies Inc [Member] | ||
Total | 1,157,662 | |
CoroWare Robotics Solutions Inc [Member] | ||
Total | 34,353 | |
Carbon Source Inc [Member] | ||
Total | 3,197 | |
ARiCon, LLC [Member] | ||
Total | $ 9,257 |
ACCOUNTS PAYABLE AND ACCRUED _3
ACCOUNTS PAYABLE AND ACCRUED EXPENSES (Details Narrative) - USD ($) | Oct. 28, 2021 | Mar. 31, 2023 | Dec. 31, 2022 |
Payables and Accruals [Abstract] | |||
Accounts Payable | $ 1,434,772 | $ 1,434,142 | |
Payroll taxes payable | 1,998,735 | 1,998,735 | |
Commissions payable | 221,188 | ||
Amount offered in trust fund | $ 1,400,000 | ||
Liability | 534,457 | $ 33,492,604 | $ 24,810,798 |
Payments for internal revenue service | $ 106,891 |
SCHEDULE OF OBLIGATIONS COLLATE
SCHEDULE OF OBLIGATIONS COLLATERIZED BY RECEIVABLES (Details) - USD ($) | Mar. 31, 2023 | Dec. 31, 2022 |
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||
Total | $ 206,236 | $ 206,236 |
Knight Capital July 16, 2015 Arrangement [Member] | ||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||
Total | ||
Quick Fix Capital August 17, 2015 Arrangement [Member] | ||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||
Total | 48,907 | 48,907 |
Power Up January 8, 2016 Arrangement [Member] | ||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||
Total | 14,232 | 14,232 |
Power Up April 12, 2016 Arrangement [Member] | ||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||
Total | 67,645 | 67,645 |
Power Up April 28, 2016 Arrangement [Member] | ||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||
Total | 29,696 | 29,696 |
Power Up June 2, 2016 Arrangement [Member] | ||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||
Total | $ 45,756 | $ 45,756 |
SCHEDULE OF CONVERTIBLE DEBT, N
SCHEDULE OF CONVERTIBLE DEBT, NET (Details) - USD ($) | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2023 | Dec. 31, 2022 | ||
Short-Term Debt [Line Items] | |||
Total, Accrued Interest Balance | $ 4,680,036 | $ 4,471,583 | |
Total, Principal Balance | 2,217,959 | 2,277,659 | |
Less debt discounts, Principal Balance | (53,430) | (117,625) | |
Less debt discounts, Accrued Interest Balance | |||
Net, Principal Balance | 2,164,529 | 2,160,034 | |
Net, Accrued Interest Balance | $ 4,680,036 | 4,471,583 | |
Westmount Holdings International, Ltd [Member] | |||
Short-Term Debt [Line Items] | |||
Interest Rate | [1] | 14% | |
Default Rate | [1] | 14% | |
Total, Principal Balance | [1] | $ 537,317 | 537,317 |
Total, Accrued Interest Balance | [1] | $ 986,817 | 968,268 |
Tangiers Investment Group, LLC [Member] | |||
Short-Term Debt [Line Items] | |||
Interest Rate | [2] | 10% | |
Default Rate | [2] | 20% | |
Total, Principal Balance | [2] | ||
Total, Accrued Interest Balance | [2] | $ 891 | 891 |
Tangiers Investment Group LLC One [Member] | |||
Short-Term Debt [Line Items] | |||
Interest Rate | [2] | 10% | |
Default Rate | [2] | 20% | |
Total, Principal Balance | [2] | $ 75,000 | 75,000 |
Total, Accrued Interest Balance | [2] | $ 125,918 | 122,219 |
Tangiers Investment Group LLC Two [Member] | |||
Short-Term Debt [Line Items] | |||
Interest Rate | 0% | ||
Default Rate | 15% | ||
Total, Principal Balance | $ 47,000 | 47,000 | |
Total, Accrued Interest Balance | $ 62,892 | 62,892 | |
Conversion Price | $ 0.0006 | ||
Tangiers Investment Group LLC Three [Member] | |||
Short-Term Debt [Line Items] | |||
Interest Rate | 0% | ||
Default Rate | 20% | ||
Total, Principal Balance | $ 10,000 | 10,000 | |
Total, Accrued Interest Balance | $ 6,663 | 6,663 | |
Conversion Price | $ 0.0006 | ||
Tangiers Investment Group LLC Four [Member] | |||
Short-Term Debt [Line Items] | |||
Interest Rate | 10% | ||
Default Rate | 20% | ||
Total, Principal Balance | $ 30,910 | 30,910 | |
Total, Accrued Interest Balance | $ 18,445 | 18,445 | |
Conversion Price | $ 0.0006 | ||
Tangiers Investment Group LLC Five [Member] | |||
Short-Term Debt [Line Items] | |||
Interest Rate | 10% | ||
Default Rate | 20% | ||
Total, Principal Balance | $ 105,000 | ||
Total, Accrued Interest Balance | $ 17,864 | 15,275 | |
Conversion Price | $ 0.001 | ||
Tangiers Investment Group LLC Six [Member] | |||
Short-Term Debt [Line Items] | |||
Interest Rate | 10% | ||
Default Rate | 20% | ||
Total, Principal Balance | $ 105,000 | 105,000 | |
Total, Accrued Interest Balance | $ 16,368 | 13,779 | |
Conversion Price | $ 0.001 | ||
Tangiers Investment Group LLC Seven [Member] | |||
Short-Term Debt [Line Items] | |||
Interest Rate | 12% | ||
Default Rate | 16% | ||
Total, Principal Balance | $ 55,000 | 55,000 | |
Total, Accrued Interest Balance | $ 6,781 | 5,153 | |
Conversion Price | $ 0.0002 | ||
Lloyd T Spencer [Member] | |||
Short-Term Debt [Line Items] | |||
Interest Rate | 12% | ||
Default Rate | 16% | ||
Total, Principal Balance | $ 31,300 | 66,000 | |
Total, Accrued Interest Balance | $ 7,699 | 6,488 | |
Conversion Price | $ 0.0002 | ||
Dakota Capital Pty, Ltd [Member] | |||
Short-Term Debt [Line Items] | |||
Interest Rate | [3] | 14% | |
Default Rate | [3] | 14% | |
Total, Principal Balance | [3] | $ 200,000 | 200,000 |
Total, Accrued Interest Balance | [3] | $ 251,386 | 244,482 |
Zoom Marketing [Member] | |||
Short-Term Debt [Line Items] | |||
Interest Rate | [4] | 5% | |
Default Rate | [4] | 10% | |
Total, Principal Balance | [4] | $ 65,000 | 65,000 |
Total, Accrued Interest Balance | [4] | $ 63,921 | 62,319 |
Burrington Capital, LLC [Member] | |||
Short-Term Debt [Line Items] | |||
Interest Rate | [5] | 10% | |
Default Rate | [5] | 15% | |
Total, Principal Balance | [5] | $ 25,000 | 25,000 |
Total, Accrued Interest Balance | [5] | $ 68,263 | 64,897 |
Patrick Ferro [Member] | |||
Short-Term Debt [Line Items] | |||
Interest Rate | [6] | 14% | |
Default Rate | [6] | 14% | |
Total, Principal Balance | [6] | $ 26,825 | 26,825 |
Total, Accrued Interest Balance | [6] | $ 39,630 | 38,704 |
Barry Liben [Member] | |||
Short-Term Debt [Line Items] | |||
Interest Rate | [6] | 0% | |
Default Rate | [6] | 0% | |
Total, Principal Balance | [6] | $ 52,800 | 52,800 |
Total, Accrued Interest Balance | [6] | ||
Jared Robert [Member] | |||
Short-Term Debt [Line Items] | |||
Interest Rate | [5] | 10% | |
Default Rate | [5] | 15% | |
Total, Principal Balance | [5] | $ 20,000 | 20,000 |
Total, Accrued Interest Balance | [5] | $ 47,295 | 44,867 |
Raphael Cariou [Member] | |||
Short-Term Debt [Line Items] | |||
Interest Rate | [7] | 10% | |
Default Rate | [7] | 15% | |
Total, Principal Balance | [7] | $ 7,000 | 7,000 |
Total, Accrued Interest Balance | [7] | $ 25,433 | 25,227 |
Raphael Cariou One [Member] | |||
Short-Term Debt [Line Items] | |||
Interest Rate | [7] | 24% | |
Default Rate | [7] | 29% | |
Total, Principal Balance | [7] | $ 82,178 | 82,178 |
Total, Accrued Interest Balance | [7] | $ 740,187 | 684,080 |
Raphael Cariou Two [Member] | |||
Short-Term Debt [Line Items] | |||
Interest Rate | [7] | 24% | |
Default Rate | [7] | 29% | |
Total, Principal Balance | [7] | $ 94,178 | 94,178 |
Total, Accrued Interest Balance | [7] | $ 829,777 | 766,739 |
Redwood Management LLC [Member] | |||
Short-Term Debt [Line Items] | |||
Interest Rate | [1] | 14% | |
Default Rate | [1] | 14% | |
Total, Principal Balance | [1] | $ 123,936 | 123,936 |
Total, Accrued Interest Balance | [1] | $ 174,959 | 170,680 |
AGS Capital Group LLC [Member] | |||
Short-Term Debt [Line Items] | |||
Interest Rate | [8] | 14% | |
Default Rate | [8] | 14% | |
Total, Principal Balance | [8] | $ 8,640 | 8,640 |
Total, Accrued Interest Balance | [8] | $ 122,351 | 117,931 |
AGS Capital Group LLC One [Member] | |||
Short-Term Debt [Line Items] | |||
Interest Rate | [8] | 14% | |
Default Rate | [8] | 14% | |
Total, Principal Balance | [8] | $ 42,000 | 42,000 |
Total, Accrued Interest Balance | [8] | $ 129,214 | 123,437 |
Tim Burgess [Member] | |||
Short-Term Debt [Line Items] | |||
Interest Rate | 8% | ||
Default Rate | 15% | ||
Total, Principal Balance | $ 50,000 | 50,000 | |
Total, Accrued Interest Balance | $ 146,263 | 144,414 | |
Conversion Price | $ 1 | ||
Azriel Nagar [Member] | |||
Short-Term Debt [Line Items] | |||
Interest Rate | 8% | ||
Default Rate | 15% | ||
Total, Principal Balance | $ 50,000 | 50,000 | |
Total, Accrued Interest Balance | $ 146,263 | 144,414 | |
Conversion Price | $ 1 | ||
Kelburgh, Ltd [Member] | |||
Short-Term Debt [Line Items] | |||
Interest Rate | [4] | 10% | |
Default Rate | [4] | 15% | |
Total, Principal Balance | [4] | $ 13,000 | 13,000 |
Total, Accrued Interest Balance | [4] | $ 54,810 | 52,363 |
Premier IT Solutions [Member] | |||
Short-Term Debt [Line Items] | |||
Interest Rate | [9] | 10% | |
Default Rate | [9] | 15% | |
Total, Principal Balance | [9] | $ 21,962 | 21,962 |
Total, Accrued Interest Balance | [9] | $ 97,298 | 92,994 |
LG Capital Funding LLC [Member] | |||
Short-Term Debt [Line Items] | |||
Interest Rate | [10] | 12% | |
Default Rate | [10] | 24% | |
Total, Principal Balance | [10] | $ 32,000 | 32,000 |
Total, Accrued Interest Balance | [10] | $ 65,711 | 63,817 |
LG Capital Funding LLC One [Member] | |||
Short-Term Debt [Line Items] | |||
Interest Rate | [10] | 12% | |
Default Rate | [10] | 24% | |
Total, Principal Balance | [10] | $ 20,625 | 20,625 |
Total, Accrued Interest Balance | [10] | $ 38,264 | 37,044 |
LG Capital Funding LLC Two [Member] | |||
Short-Term Debt [Line Items] | |||
Interest Rate | [10] | 12% | |
Default Rate | [10] | 24% | |
Total, Principal Balance | [10] | $ 24,000 | 24,000 |
Total, Accrued Interest Balance | [10] | $ 49,284 | 47,863 |
Barclay Lyons [Member] | |||
Short-Term Debt [Line Items] | |||
Interest Rate | [11] | 21% | |
Default Rate | [11] | 36% | |
Total, Principal Balance | [11] | $ 10,750 | 10,750 |
Total, Accrued Interest Balance | [11] | $ 46,308 | 45,354 |
Blackridge Capital LLC [Member] | |||
Short-Term Debt [Line Items] | |||
Interest Rate | [9] | 10% | |
Default Rate | [9] | 15% | |
Total, Principal Balance | [9] | $ 6,985 | 6,985 |
Total, Accrued Interest Balance | [9] | $ 130,182 | 125,231 |
Blackridge Capital LLC One [Member] | |||
Short-Term Debt [Line Items] | |||
Interest Rate | [12] | 8% | |
Default Rate | [12] | 8% | |
Total, Principal Balance | [12] | $ 5,000 | 5,000 |
Total, Accrued Interest Balance | [12] | $ 5,109 | 4,912 |
Julian Herskowitz [Member] | |||
Short-Term Debt [Line Items] | |||
Interest Rate | [13] | 8% | |
Default Rate | [13] | 15% | |
Total, Principal Balance | [13] | ||
Total, Accrued Interest Balance | [13] | $ 16,287 | 16,287 |
Patrick Tuohy [Member] | |||
Short-Term Debt [Line Items] | |||
Interest Rate | [5] | 14% | |
Default Rate | [5] | 14% | |
Total, Principal Balance | [5] | ||
Total, Accrued Interest Balance | [5] | $ 153 | 153 |
Richard Wynns [Member] | |||
Short-Term Debt [Line Items] | |||
Interest Rate | 5% | ||
Default Rate | 5% | ||
Total, Principal Balance | $ 7,500 | 7,500 | |
Total, Accrued Interest Balance | $ 7,595 | 7,502 | |
Conversion Price | $ 0.15 | ||
Richard Wynns One [Member] | |||
Short-Term Debt [Line Items] | |||
Interest Rate | [14] | 10% | |
Default Rate | [14] | 10% | |
Total, Principal Balance | [14] | $ 93,997 | 93,997 |
Total, Accrued Interest Balance | [14] | $ 119,821 | 117,472 |
MacRab LLC [Member] | |||
Short-Term Debt [Line Items] | |||
Interest Rate | 12% | ||
Default Rate | 16% | ||
Total, Principal Balance | $ 33,056 | 33,056 | |
Total, Accrued Interest Balance | $ 3,532 | 2,554 | |
Conversion Price | $ 0.0002 | ||
BHP Capital NY Inc [Member] | |||
Short-Term Debt [Line Items] | |||
Interest Rate | 12% | ||
Default Rate | 12% | ||
Total, Principal Balance | 25,000 | ||
Total, Accrued Interest Balance | $ 1,917 | 1,397 | |
Conversion Price | $ 0.0002 | ||
Quick Capital LLC [Member] | |||
Short-Term Debt [Line Items] | |||
Interest Rate | 12% | ||
Default Rate | 12% | ||
Total, Principal Balance | $ 25,000 | 25,000 | |
Total, Accrued Interest Balance | $ 2,137 | 1,397 | |
Conversion Price | $ 0.0002 | ||
Quick Capital LLC One [Member] | |||
Short-Term Debt [Line Items] | |||
Interest Rate | 12% | ||
Default Rate | 16% | ||
Total, Principal Balance | $ 10,000 | 10,000 | |
Total, Accrued Interest Balance | $ 496 | 201 | |
Conversion Price | $ 0.0002 | ||
Robert Papiri [Member] | |||
Short-Term Debt [Line Items] | |||
Interest Rate | 12% | ||
Default Rate | 12% | ||
Total, Principal Balance | $ 10,000 | 10,000 | |
Total, Accrued Interest Balance | $ 851 | 556 | |
Conversion Price | $ 0.0002 | ||
Robert Papiri One [Member] | |||
Short-Term Debt [Line Items] | |||
Interest Rate | 12% | ||
Default Rate | 16% | ||
Total, Principal Balance | $ 10,000 | 10,000 | |
Total, Accrued Interest Balance | $ 444 | 148 | |
Conversion Price | $ 0.0002 | ||
Robert Papiri Two [Member] | |||
Short-Term Debt [Line Items] | |||
Interest Rate | 12% | ||
Default Rate | 16% | ||
Total, Principal Balance | $ 5,000 | 5,000 | |
Total, Accrued Interest Balance | $ 181 | 33 | |
Conversion Price | $ 0.0002 | ||
Robert Papiri Three [Member] | |||
Short-Term Debt [Line Items] | |||
Interest Rate | 12% | ||
Default Rate | 16% | ||
Total, Principal Balance | $ 2,500 | 2,500 | |
Total, Accrued Interest Balance | $ 213 | 139 | |
Conversion Price | $ 0.0002 | ||
RPG Capital Partners Inc [Member] | |||
Short-Term Debt [Line Items] | |||
Interest Rate | 12% | ||
Default Rate | 16% | ||
Total, Principal Balance | $ 2,500 | 2,500 | |
Total, Accrued Interest Balance | $ 213 | 139 | |
Conversion Price | $ 0.0002 | ||
RPG Capital Partners Inc One [Member] | |||
Short-Term Debt [Line Items] | |||
Interest Rate | 12% | ||
Default Rate | 16% | ||
Total, Principal Balance | $ 25,000 | 25,000 | |
Total, Accrued Interest Balance | $ 1,964 | 1,225 | |
Conversion Price | $ 0.0002 | ||
RPG Capital Partners Inc Two [Member] | |||
Short-Term Debt [Line Items] | |||
Interest Rate | 12% | ||
Default Rate | 16% | ||
Total, Principal Balance | $ 15,000 | 15,000 | |
Total, Accrued Interest Balance | $ 986 | $ 542 | |
Conversion Price | $ 0.0002 | ||
[1]Lesser of (a) $0.02 or (b) 85% of the lowest closing price during the 30-day trading period prior to conversion. 50% of the lowest closing price during the 20-day trading period prior to conversion. (a) $0.02 or (b) 50% of the lowest volume weighted average price during the 30-day trading period prior to conversion. 85% of the average of the five trading days prior to the applicable conversion date. 60% of the lowest closing price during the 20-day trading period prior to conversion, or $0.01, whichever is lower. 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. 86.9565% of the average prices of the five trading days prior to the conversion date. 35% of the lowest closing price during the 20-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 lowest closing price during the 10-day trading period prior to, and including the date of, conversion 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. 60% of the lowest closing price during the 30-day trading period prior to conversion 65% of the lowest closing price during the 7-day trading period prior to conversion 75% of the average of the three lowest closing prices during the 10-day trading period prior to conversion. |
SCHEDULE OF CONVERTIBLE DEBT,_2
SCHEDULE OF CONVERTIBLE DEBT, NET (Details) (Parenthetical) | 3 Months Ended |
Mar. 31, 2023 | |
Westmount Holdings International, Ltd [Member] | |
Short-Term Debt [Line Items] | |
Covenant description | (a) $0.02 or (b) 85% of the lowest closing price during the 30-day trading period prior to conversion. |
Redwood Management LLC [Member] | |
Short-Term Debt [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] | |
Short-Term Debt [Line Items] | |
Covenant description | 50% of the lowest closing price during the 20-day trading period prior to conversion. |
Tangiers Investment Group LLC One [Member] | |
Short-Term Debt [Line Items] | |
Covenant description | 50% of the lowest closing price during the 20-day trading period prior to conversion. |
Dakota Capital Pty, Ltd [Member] | |
Short-Term Debt [Line Items] | |
Covenant description | (a) $0.02 or (b) 50% of the lowest volume weighted average price during the 30-day trading period prior to conversion. |
Raphael Cariou [Member] | |
Short-Term Debt [Line Items] | |
Covenant description | 86.9565% of the average prices of the five trading days prior to the conversion date. |
Raphael Cariou One [Member] | |
Short-Term Debt [Line Items] | |
Covenant description | 86.9565% of the average prices of the five trading days prior to the conversion date. |
Raphael Cariou Two [Member] | |
Short-Term Debt [Line Items] | |
Covenant description | 86.9565% of the average prices of the five trading days prior to the conversion date. |
Richard Wynns One [Member] | |
Short-Term Debt [Line Items] | |
Covenant description | 75% of the average of the three lowest closing prices during the 10-day trading period prior to conversion. |
Barclay Lyons [Member] | |
Short-Term Debt [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. |
Premier IT Solutions [Member] | |
Short-Term Debt [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%. |
Blackridge Capital LLC [Member] | |
Short-Term Debt [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%. |
Zoom Marketing [Member] | |
Short-Term Debt [Line Items] | |
Covenant description | 85% of the average of the five trading days prior to the applicable conversion date. |
Kelburgh, Ltd [Member] | |
Short-Term Debt [Line Items] | |
Covenant description | 85% of the average of the five trading days prior to the applicable conversion date. |
AGS Capital Group LLC [Member] | |
Short-Term Debt [Line Items] | |
Covenant description | 35% of the lowest closing price during the 20-day trading period prior to conversion. |
AGS Capital Group LLC One [Member] | |
Short-Term Debt [Line Items] | |
Covenant description | 35% of the lowest closing price during the 20-day trading period prior to conversion. |
Blackridge Capital LLC One [Member] | |
Short-Term Debt [Line Items] | |
Covenant description | 60% of the lowest closing price during the 30-day trading period prior to conversion |
LG Capital Funding LLC [Member] | |
Short-Term Debt [Line Items] | |
Covenant description | 50% of the lowest closing price during the 10-day trading period prior to, and including the date of, conversion |
LG Capital Funding LLC One [Member] | |
Short-Term Debt [Line Items] | |
Covenant description | 50% of the lowest closing price during the 10-day trading period prior to, and including the date of, conversion |
LG Capital Funding LLC Two [Member] | |
Short-Term Debt [Line Items] | |
Covenant description | 50% of the lowest closing price during the 10-day trading period prior to, and including the date of, conversion |
Burrington Capital, LLC [Member] | |
Short-Term Debt [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. |
Jared Robert [Member] | |
Short-Term Debt [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. |
Patrick Tuohy [Member] | |
Short-Term Debt [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. |
Patrick Ferro [Member] | |
Short-Term Debt [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. |
Barry Liben [Member] | |
Short-Term Debt [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 $0.0001 or whole share. |
Julian Herskowitz [Member] | |
Short-Term Debt [Line Items] | |
Covenant description | 65% of the lowest closing price during the 7-day trading period prior to conversion |
CONVERTIBLE DEBT, NET (Details
CONVERTIBLE DEBT, NET (Details Narrative) - USD ($) | Mar. 31, 2023 | Dec. 31, 2022 |
Convertible Debt Net | ||
Unamortized amount | $ 53,430 | $ 117,625 |
SCHEDULE OF NOTES PAYABLE (Deta
SCHEDULE OF NOTES PAYABLE (Details) - USD ($) | Mar. 31, 2023 | Dec. 31, 2022 | |
Short-Term Debt [Line Items] | |||
Accrued Interest Balance | $ 742,388 | $ 732,497 | |
Coroware Inc And Subsidiaries [Member] | |||
Short-Term Debt [Line Items] | |||
Principal Balance | [1] | 154,873 | 154,873 |
Accrued Interest Balance | [1] | 722,544 | 689,927 |
Coroware Inc And Subsidiaries [Member] | Gary Sumner [Member] | |||
Short-Term Debt [Line Items] | |||
Principal Balance | [1] | 45,000 | 45,000 |
Accrued Interest Balance | [1] | 116,253 | 114,255 |
Coroware Inc And Subsidiaries [Member] | LTC International Corp [Member] | |||
Short-Term Debt [Line Items] | |||
Principal Balance | [1] | 4,732 | 4,732 |
Accrued Interest Balance | [1] | 31,192 | 30,707 |
Coroware Inc And Subsidiaries [Member] | Richard Wynns [Member] | |||
Short-Term Debt [Line Items] | |||
Principal Balance | [1] | 25,000 | 25,000 |
Accrued Interest Balance | [1] | 317,692 | 300,313 |
Coroware Inc And Subsidiaries [Member] | Barclay Lyons [Member] | |||
Short-Term Debt [Line Items] | |||
Principal Balance | [1] | 15,000 | 15,000 |
Accrued Interest Balance | [1] | 52,343 | 51,271 |
Coroware Inc And Subsidiaries [Member] | John Kroon [Member] | |||
Short-Term Debt [Line Items] | |||
Principal Balance | [1] | 10,000 | 10,000 |
Accrued Interest Balance | [1] | 137,843 | 130,345 |
Coroware Inc And Subsidiaries [Member] | Walter Jay Bell [Member] | |||
Short-Term Debt [Line Items] | |||
Principal Balance | [1] | 10,000 | 10,000 |
Accrued Interest Balance | [1] | 9,504 | 9,257 |
Coroware Inc And Subsidiaries [Member] | Walter Jay Bell [Member] | |||
Short-Term Debt [Line Items] | |||
Principal Balance | [1] | 8,641 | 8,641 |
Accrued Interest Balance | [1] | 3,021 | 2,915 |
Coroware Inc And Subsidiaries [Member] | George Ferch [Member] | |||
Short-Term Debt [Line Items] | |||
Principal Balance | [1] | 5,000 | 5,000 |
Accrued Interest Balance | [1] | 52,450 | 49,536 |
Coroware Inc And Subsidiaries [Member] | Blackridge, LLC [Member] | |||
Short-Term Debt [Line Items] | |||
Principal Balance | [1] | 1,500 | 1,500 |
Accrued Interest Balance | [1] | 1,046 | 1,027 |
Coroware Inc And Subsidiaries [Member] | Michael Sobeck [Member] | |||
Short-Term Debt [Line Items] | |||
Principal Balance | [1] | 30,000 | 30,000 |
Accrued Interest Balance | [1] | $ 1,200 | $ 300 |
[1]Unless otherwise noted, interest is simple interest. |
SCHEDULE OF NOTES PAYABLE (De_2
SCHEDULE OF NOTES PAYABLE (Details) (Parenthetical) | Aug. 16, 2022 | Jul. 03, 2018 | Jun. 29, 2017 | Apr. 24, 2016 | Oct. 18, 2013 | Apr. 11, 2012 | Mar. 29, 2011 | Mar. 15, 2011 | Jul. 27, 2010 | Mar. 17, 2010 | Mar. 31, 2023 | |
Gary Sumner [Member] | Coroware Inc And Subsidiaries [Member] | ||||||||||||
Short-Term Debt [Line Items] | ||||||||||||
Issuance date | Jun. 29, 2017 | |||||||||||
Interest rate | 5% | |||||||||||
Default interest | 18% | |||||||||||
Maturity date | Mar. 31, 2018 | |||||||||||
LTC International Corp [Member] | Coroware Inc And Subsidiaries [Member] | ||||||||||||
Short-Term Debt [Line Items] | ||||||||||||
Issuance date | Jul. 03, 2018 | |||||||||||
Interest rate | 20.80% | |||||||||||
Default interest | 41.60% | |||||||||||
Maturity date | Dec. 17, 2018 | |||||||||||
Richard Wynns [Member] | ||||||||||||
Short-Term Debt [Line Items] | ||||||||||||
Default interest | 5% | |||||||||||
Richard Wynns [Member] | Coroware Inc And Subsidiaries [Member] | ||||||||||||
Short-Term Debt [Line Items] | ||||||||||||
Issuance date | Jul. 27, 2010 | |||||||||||
Interest rate | 18% | |||||||||||
Default interest | 21% | |||||||||||
Maturity date | Jan. 23, 2011 | |||||||||||
Barclay Lyons [Member] | ||||||||||||
Short-Term Debt [Line Items] | ||||||||||||
Default interest | [1] | 21% | ||||||||||
Barclay Lyons [Member] | Coroware Inc And Subsidiaries [Member] | ||||||||||||
Short-Term Debt [Line Items] | ||||||||||||
Issuance date | Mar. 15, 2011 | |||||||||||
Interest rate | 18.99% | |||||||||||
Default interest | 28.99% | |||||||||||
Maturity date | Mar. 25, 2011 | |||||||||||
John Kroon [Member] | Coroware Inc And Subsidiaries [Member] | ||||||||||||
Short-Term Debt [Line Items] | ||||||||||||
Issuance date | Mar. 17, 2010 | |||||||||||
Interest rate | 18% | |||||||||||
Default interest | 21% | |||||||||||
Maturity date | Sep. 13, 2010 | |||||||||||
Walter Jay Bell [Member] | Coroware Inc And Subsidiaries [Member] | ||||||||||||
Short-Term Debt [Line Items] | ||||||||||||
Issuance date | Oct. 18, 2013 | |||||||||||
Interest rate | 10% | |||||||||||
Maturity date | Nov. 29, 2013 | |||||||||||
Walter Jay Bell [Member] | Coroware Inc And Subsidiaries [Member] | ||||||||||||
Short-Term Debt [Line Items] | ||||||||||||
Issuance date | Apr. 24, 2016 | |||||||||||
Interest rate | 10% | |||||||||||
Maturity date | Sep. 30, 2016 | |||||||||||
George Ferch [Member] | Coroware Inc And Subsidiaries [Member] | ||||||||||||
Short-Term Debt [Line Items] | ||||||||||||
Issuance date | Mar. 29, 2011 | |||||||||||
Interest rate | 0% | |||||||||||
Default interest | 21% | |||||||||||
Maturity date | Jun. 27, 2011 | |||||||||||
Blackridge, LLC [Member] | Coroware Inc And Subsidiaries [Member] | ||||||||||||
Short-Term Debt [Line Items] | ||||||||||||
Issuance date | Apr. 11, 2012 | |||||||||||
Interest rate | 5% | |||||||||||
Default interest | 5% | |||||||||||
Maturity date | May 25, 2012 | |||||||||||
Michael Sobeck [Member] | Coroware Inc And Subsidiaries [Member] | ||||||||||||
Short-Term Debt [Line Items] | ||||||||||||
Issuance date | Aug. 16, 2022 | |||||||||||
Interest rate | 12% | |||||||||||
Maturity date | Aug. 16, 2023 | |||||||||||
[1] 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 $0.0001. |
NOTES PAYABLE, RELATED PARTIES
NOTES PAYABLE, RELATED PARTIES (Details Narrative) - USD ($) | 3 Months Ended | |
Mar. 31, 2023 | Dec. 31, 2022 | |
Long term notes payable | $ 199,415 | $ 199,415 |
Notes Payable, Noncurrent, Related and Nonrelated Party Status [Extensible Enumeration] | Related Party [Member] | Related Party [Member] |
Interest payable, current | $ 478,825 | $ 468,562 |
Minimum [Member] | ||
Simple interest rate | 10% | |
Default simple interest | 10% | |
Maximum [Member] | ||
Simple interest rate | 18% | |
Default simple interest | 24% |
SMALL BUSINESS ADMINISTRATION_2
SMALL BUSINESS ADMINISTRATION LOAN (Details Narrative) - USD ($) | 1 Months Ended | ||||
Nov. 30, 2011 | Nov. 30, 2010 | Apr. 17, 2002 | Mar. 31, 2023 | Dec. 31, 2022 | |
Small Business Administration Loan | |||||
Proceeds from issuance of secured debt | $ 989,100 | ||||
Debt, weighted average interest rate | 4% | ||||
Debt instrument, face amount | $ 979,950 | $ 979,950 | |||
Debt instrument, periodic payment | $ 4,813 | ||||
Payment reverting back per month | $ 500 | ||||
Debt instrument payment reverting | $ 4,813 | ||||
Accrued interest payable | $ 742,388 | $ 732,497 |
SUMMARY OF DERIVATIVE LIABILITI
SUMMARY OF DERIVATIVE LIABILITIES (Details) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2023 | Dec. 31, 2022 | |
Measurement Input, Risk Free Interest Rate [Member] | ||
Derivative [Line Items] | ||
Expected price volatility | 4.72 | 4.41 |
Measurement Input, Expected Term [Member] | Minimum [Member] | ||
Derivative [Line Items] | ||
Expected options life | 1 year | 1 year |
Measurement Input, Expected Term [Member] | Maximum [Member] | ||
Derivative [Line Items] | ||
Expected options life | 2 years | 2 years |
Measurement Input, Expected Dividend Rate [Member] | ||
Derivative [Line Items] | ||
Expected price volatility | ||
Measurement Input, Price Volatility [Member] | ||
Derivative [Line Items] | ||
Expected price volatility | 289 | 341 |
DERIVATIVE LIABILITY (Details N
DERIVATIVE LIABILITY (Details Narrative) - USD ($) | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ||||
Increase decrease in derivative liability | $ 18,009,660 | $ 12,475,165 | $ 9,652,846 | $ 11,904,070 |
Gain from derivative liability | $ 8,356,814 | $ 571,095 |
PREFERRED STOCK (Details Narrat
PREFERRED STOCK (Details Narrative) - USD ($) | 3 Months Ended | ||||||
Apr. 17, 2014 | Oct. 04, 2013 | Mar. 09, 2012 | Nov. 10, 2011 | Mar. 31, 2023 | Mar. 31, 2022 | Dec. 31, 2022 | |
Class of Stock [Line Items] | |||||||
Preferred stock, dividend rate, percentage | 5% | ||||||
Derivative liability | $ 18,009,660 | $ 9,652,846 | |||||
Charged to derivative income (expense) | $ (8,356,814) | $ (571,095) | |||||
Series A Preferred Stock [Member] | |||||||
Class of Stock [Line Items] | |||||||
Preferred stock shares authorized | 125,000 | ||||||
Preferred stock, dividend rate, percentage | 5% | ||||||
Sale of stock, price per share | $ 3,000 | ||||||
Reserve stock split, description | (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) | ||||||
Preferred stock conversion, description | 75% of the average closing bid prices over the 20 trading days immediately preceding the date of conversion | ||||||
Preferred stock liquidation preference | $ 1 | ||||||
Preferred stock redeemable period | 5 years | ||||||
Preferred stock, redemption price per share | $ 1.30 | ||||||
Preferred stock, shares issued | 0 | 0 | |||||
Preferred stock, shares outstanding | 0 | 0 | |||||
Series B Preferred Stock [Member] | |||||||
Class of Stock [Line Items] | |||||||
Preferred stock shares authorized | 525,000 | ||||||
Preferred stock, dividend rate, percentage | 5% | ||||||
Sale of stock, price per share | $ 3,000 | ||||||
Reserve stock split, description | (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) | ||||||
Preferred stock conversion, description | 75% of the average closing bid prices over the 20 trading days immediately preceding the date of conversion | ||||||
Preferred stock liquidation preference | $ 1 | ||||||
Preferred stock redeemable period | 5 years | ||||||
Preferred stock, redemption price per share | $ 1.30 | ||||||
Preferred stock, shares issued | 159,666 | 159,666 | |||||
Preferred stock, shares outstanding | 159,666 | 159,666 | |||||
Derivative liability | $ 265,467 | $ 145,763 | |||||
Charged to derivative income (expense) | $ 119,704 | 19,434 | |||||
Series C Preferred Stock [Member] | |||||||
Class of Stock [Line Items] | |||||||
Preferred stock shares authorized | 500,000 | ||||||
Preferred stock conversion, description | 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 | ||||||
Preferred stock liquidation preference | $ 1 | ||||||
Preferred stock, shares issued | 0 | 0 | |||||
Preferred stock, shares outstanding | 0 | 0 | |||||
Conversion price | $ 0.04 | ||||||
Warrants exercise price | $ 0.06 | ||||||
Warrants term | 5 years | ||||||
Series D Preferred Stock [Member] | |||||||
Class of Stock [Line Items] | |||||||
Preferred stock shares authorized | 500,000 | ||||||
Preferred stock conversion, description | 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. | ||||||
Preferred stock, shares issued | 100,000 | 100,000 | |||||
Preferred stock, shares outstanding | 100,000 | 100,000 | |||||
Derivative liability | $ 241,836 | $ 197,877 | |||||
Charged to derivative income (expense) | $ 43,959 | 49,861 | |||||
Preferred stock par value | $ 0.001 | ||||||
Preferred stock stated par value | $ 1 | ||||||
Preferred stock voting rights | Each share of the Series D Preferred Stock shall have voting rights equal to 100,000 votes of common stock. | ||||||
Series E Preferred Stock [Member] | |||||||
Class of Stock [Line Items] | |||||||
Preferred stock shares authorized | 1,000,000 | ||||||
Preferred stock conversion, description | 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. | ||||||
Preferred stock, shares issued | 821,377 | 821,377 | |||||
Preferred stock, shares outstanding | 821,377 | 821,377 | |||||
Derivative liability | $ 1,986,389 | $ 1,625,314 | |||||
Charged to derivative income (expense) | $ 361,075 | 381,614 | |||||
Preferred stock par value | $ 0.001 | ||||||
Series F Preferred Stock [Member] | |||||||
Class of Stock [Line Items] | |||||||
Preferred stock shares authorized | 500,000 | ||||||
Preferred stock conversion, description | 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. | ||||||
Preferred stock, shares issued | 190,000 | 190,000 | |||||
Preferred stock, shares outstanding | 190,000 | 190,000 | |||||
Derivative liability | $ 459,489 | $ 375,966 | |||||
Charged to derivative income (expense) | $ 83,523 | 94,736 | |||||
Preferred stock par value | $ 0.001 | ||||||
Preferred stock stated par value | $ 1 | ||||||
Series G Preferred Stock [Member] | |||||||
Class of Stock [Line Items] | |||||||
Preferred stock shares authorized | 500,000 | ||||||
Preferred stock conversion, description | 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. | ||||||
Preferred stock, shares issued | 25,000 | 25,000 | |||||
Preferred stock, shares outstanding | 25,000 | 25,000 | |||||
Derivative liability | $ 60,459 | $ 49,469 | |||||
Charged to derivative income (expense) | $ 10,990 | $ 12,465 | |||||
Preferred stock par value | $ 0.001 | ||||||
Preferred stock stated par value | $ 1 | ||||||
Preferred stock voting rights | 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 |
COMMON STOCK AND TREASURY STO_2
COMMON STOCK AND TREASURY STOCK (Details Narrative) - USD ($) | Mar. 03, 2023 | Feb. 15, 2023 | Jan. 25, 2023 | Nov. 16, 2022 | Nov. 07, 2022 | 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 | Mar. 31, 2023 | Dec. 31, 2022 |
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | |||||||||||||||||
Common stock, shares authorized | 35,000,000,000 | 35,000,000,000 | |||||||||||||||
Common stock par value | $ 0.0001 | $ 0.0001 | |||||||||||||||
Common stock, shares outstanding | 19,245,422,812 | 18,643,205,254 | |||||||||||||||
Interest amount | $ 6,621,051 | $ 6,362,570 | |||||||||||||||
Treasury stock | 115,297,004 | 188,181,000 | |||||||||||||||
Mutual Release and Settlement Agreement with Y.A Global Investment LP [Member] | |||||||||||||||||
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | |||||||||||||||||
Number shares issued for common stock | 206,896,552 | ||||||||||||||||
BHP Capital NY Inc [Member] | |||||||||||||||||
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | |||||||||||||||||
Number shares issued for common stock | 155,833,562 | ||||||||||||||||
Principal amount | $ 25,000 | ||||||||||||||||
Accrued fees, value | 2,500 | ||||||||||||||||
Deposit fees | 1,750 | ||||||||||||||||
Interest amount | $ 1,917 | ||||||||||||||||
Number of shares issued for common stock, convertible note financing, shares | 25,000,000 | ||||||||||||||||
Number of shares issued for common stock, convertible note financing | $ 25,000 | ||||||||||||||||
The Street Group LLC [Member] | |||||||||||||||||
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | |||||||||||||||||
Number shares issued for common stock | 200,000,000 | ||||||||||||||||
Salvum Corporation [Member] | |||||||||||||||||
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | |||||||||||||||||
Number shares issued for common stock | 83,333,334 | ||||||||||||||||
Carbon Meta Research Ltd [Member] | |||||||||||||||||
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | |||||||||||||||||
Number of shares issued for common stock, as compensation, shares | 90,000,000 | ||||||||||||||||
Ecomena Limited [Member] | |||||||||||||||||
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | |||||||||||||||||
Number shares issued for common stock | 160,000,000 | ||||||||||||||||
Tangiers Investment Group, LLC [Member] | |||||||||||||||||
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | |||||||||||||||||
Number of shares issued for common stock, convertible note financing, shares | 27,500,000 | ||||||||||||||||
Number of shares issued for common stock, convertible note financing | $ 55,000 | ||||||||||||||||
MacRab LLC [Member] | |||||||||||||||||
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | |||||||||||||||||
Number of shares issued for common stock, convertible note financing, shares | 16,527,775 | ||||||||||||||||
Number of shares issued for common stock, convertible note financing | $ 33,056 | ||||||||||||||||
Quick Capital LLC [Member] | |||||||||||||||||
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | |||||||||||||||||
Number of shares issued for common stock, convertible note financing, shares | 25,000,000 | ||||||||||||||||
Number of shares issued for common stock, convertible note financing | $ 25,000 | ||||||||||||||||
RPG Capital Partners Inc [Member] | |||||||||||||||||
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | |||||||||||||||||
Number of shares issued for common stock, convertible note financing, shares | 2,500,000 | 15,000,000 | 25,000,000 | ||||||||||||||
Number of shares issued for common stock, convertible note financing | $ 2,500 | $ 15,000 | $ 25,000 | ||||||||||||||
Robert Papir [Member] | |||||||||||||||||
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | |||||||||||||||||
Number of shares issued for common stock, convertible note financing, shares | 17,000,000 | ||||||||||||||||
Number of shares issued for common stock, convertible note financing | $ 10,000 | ||||||||||||||||
Lloyd Spencer [Member] | |||||||||||||||||
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | |||||||||||||||||
Number shares issued for common stock | 173,500,000 | ||||||||||||||||
Principal amount | $ 34,700 | ||||||||||||||||
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, value | $ 150,000 | ||||||||||||||||
Number of shares issued for common stock, convertible note financing, shares | 33,000,000 | ||||||||||||||||
Number of shares issued for common stock, convertible note financing | $ 66,000 | ||||||||||||||||
Three Other Individuals [Member] | Carbon Meta Research Ltd [Member] | |||||||||||||||||
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | |||||||||||||||||
Number of shares issued for common stock, as compensation, shares | 30,000,000 | ||||||||||||||||
Bill Elder [Member] | |||||||||||||||||
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | |||||||||||||||||
Shares issued for service | 20,000,000 |
SCHEDULE OF WARRANTS_OPTIONS IS
SCHEDULE OF WARRANTS/OPTIONS ISSUED (Details) | 3 Months Ended | |
Mar. 31, 2023 $ / 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 | |
Tangiers Investment Group, LLC [Member] | ||
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | ||
Date of issuance | Mar. 21, 2022 | [1] |
Shares upon issuance of warrant or options | 125,000,000 | [1] |
Exercise price | $ / shares | $ 0.0004 | [1] |
Expiration Date | Mar. 21, 2027 | [1] |
JH Darbie and Company [Member] | ||
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | ||
Date of issuance | Mar. 28, 2022 | [2] |
Shares upon issuance of warrant or options | 19,125,000 | [2] |
Exercise price | $ / shares | $ 0.0004 | [2] |
Expiration Date | Mar. 28, 2027 | [2] |
MacRab LLC [Member] | ||
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | ||
Date of issuance | Apr. 14, 2022 | [3] |
Shares upon issuance of warrant or options | 500,000,000 | [3] |
Exercise price | $ / shares | $ 0.0004 | [3] |
Expiration Date | Apr. 14, 2027 | [3] |
Mac Rab LLR Two [Member] | ||
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | ||
Date of issuance | May 10, 2022 | [4] |
Shares upon issuance of warrant or options | 74,375,000 | [4] |
Exercise price | $ / shares | $ 0.0004 | [4] |
Expiration Date | May 10, 2027 | [4] |
BHP Capital NY Inc [Member] | ||
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | ||
Date of issuance | Jul. 14, 2022 | [5] |
Shares upon issuance of warrant or options | 62,500,000 | [5] |
Exercise price | $ / shares | $ 0.0004 | [5] |
Expiration Date | Jul. 14, 2027 | [5] |
Quick Capital LLC [Member] | ||
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | ||
Date of issuance | Jul. 14, 2022 | [6] |
Shares upon issuance of warrant or options | 62,500,000 | [6] |
Exercise price | $ / shares | $ 0.0004 | [6] |
Expiration Date | Jul. 14, 2027 | [6] |
Robert Papiri Defined Benefit Plan [Member] | ||
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | ||
Date of issuance | Jul. 15, 2022 | [7] |
Shares upon issuance of warrant or options | 25,000,000 | [7] |
Exercise price | $ / shares | $ 0.0004 | [7] |
Expiration Date | Jul. 15, 2027 | [7] |
Robert Papiri Defined Contribution Plan [Member] | ||
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | ||
Date of issuance | Jul. 15, 2022 | [8] |
Shares upon issuance of warrant or options | 6,250,000 | [8] |
Exercise price | $ / shares | $ 0.0004 | [8] |
Expiration Date | Jul. 15, 2027 | [8] |
RPG Capital Partners Inc [Member] | ||
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | ||
Date of issuance | Jul. 15, 2022 | [9] |
Shares upon issuance of warrant or options | 6,250,000 | [9] |
Exercise price | $ / shares | $ 0.0004 | [9] |
Expiration Date | Jul. 15, 2027 | [9] |
RPG Capital Partners Inc One [Member] | ||
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | ||
Date of issuance | Aug. 04, 2022 | [10] |
Shares upon issuance of warrant or options | 62,500,000 | [10] |
Exercise price | $ / shares | $ 0.0004 | [10] |
Expiration Date | Aug. 04, 2027 | [10] |
RPG Capital Partners Inc Two [Member] | ||
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | ||
Date of issuance | Sep. 12, 2022 | [11] |
Shares upon issuance of warrant or options | 37,500,000 | [11] |
Exercise price | $ / shares | $ 0.0004 | [11] |
Expiration Date | Sep. 12, 2027 | [11] |
Lloyd Spencer [Member] | ||
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | ||
Date of issuance | Mar. 07, 2022 | [12] |
Shares upon issuance of warrant or options | 165,000,000 | [12] |
Exercise price | $ / shares | $ 0.0002 | [12] |
Expiration Date | Mar. 07, 2027 | [12] |
[1]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 1 March 21, 2023 12% 0.0002 16% 125,000,000 0.0004 19,125,000 0.0004 5,000,000 88% 500,000,000 0.0004 33,056 1 May 10, 2023 12% 0.0002 16% five-year 74,375,000 0.0004 16,527,775 25,000 1 July 14, 2023 12% 0.0002 16% five 62,500,000 0.0004 212,500,000 25,000 1 July 14, 2023 12% 0.0002 16% five-year 62,500,000 0.0004 212,500,000 10,000 1 July 15, 2023 12% 0.0002 16% five 25,000,000 0.0004 85,000,000 2,500 1 July 15, 2023 12% 0.0002 16% five-year 6,250,000 0.0004 21,250,000 2,500 1 July 15, 2023 12% 0.0002 16% five-year 6,250,000 0.0004 21,250,000 25,000 1 July 27, 2023 12% 0.0002 16% five-year 62,500,000 0.0004 212,500,000 15,000 1 September 12, 2023 12% 0.0002 16% five 37,500,000 0.0004 212,500,000 66,000 1 March 7, 2023 12% 0.0002 16% 165,000,000 0.0004 |
SCHEDULE OF WARRANTS_OPTIONS _2
SCHEDULE OF WARRANTS/OPTIONS ISSUED (Details) (Parenthetical) - USD ($) | 3 Months Ended | |||||||||||
Nov. 07, 2022 | Sep. 12, 2022 | Aug. 04, 2022 | Jul. 15, 2022 | Jul. 14, 2022 | May 10, 2022 | Apr. 14, 2022 | Mar. 21, 2022 | Mar. 07, 2022 | Mar. 31, 2023 | Mar. 31, 2022 | Feb. 23, 2022 | |
Short-Term Debt [Line Items] | ||||||||||||
Proceeds from convertible debt | $ 108,650 | |||||||||||
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 | |||||||||||
MacRab LLC [Member] | ||||||||||||
Short-Term Debt [Line Items] | ||||||||||||
Fixed convertible promissory note, amount | $ 33,056 | |||||||||||
MacRab 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% | |||||||||||
BHP Capital NY Inc [Member] | ||||||||||||
Short-Term Debt [Line Items] | ||||||||||||
Fixed convertible promissory note, amount | $ 25,000 | |||||||||||
Quick Capital LLC [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 | $ 2,500 | $ 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 | |||||||||||
Interest rate | 12% | |||||||||||
Debt conversion price | $ 0.0002 | |||||||||||
Lowest closing price | 16% | |||||||||||
Number of shares warrants to purchase | 165,000,000 | |||||||||||
Warrant exercise price | $ 0.0004 | |||||||||||
Tangiers Investment Group LLC [Member] | ||||||||||||
Short-Term Debt [Line Items] | ||||||||||||
Proceeds from convertible debt | $ 55,000 | |||||||||||
Debt term | 1 year | |||||||||||
Interest rate | 12% | |||||||||||
Debt conversion price | $ 0.0002 | |||||||||||
Lowest closing price | 16% | |||||||||||
Number of shares warrants to purchase | 125,000,000 | |||||||||||
Warrant exercise price | $ 0.0004 | |||||||||||
Debt maturity date | Mar. 21, 2023 | |||||||||||
Fixed Convertible Promissory Note [Member] | MacRab LLC [Member] | ||||||||||||
Short-Term Debt [Line Items] | ||||||||||||
Debt term | 1 year | |||||||||||
Interest rate | 12% | |||||||||||
Debt conversion price | $ 0.0002 | |||||||||||
Lowest closing price | 16% | |||||||||||
Warrant exercise price | $ 0.0004 | |||||||||||
Debt maturity date | May 10, 2023 | |||||||||||
Fixed convertible promissory note, amount | $ 33,056 | |||||||||||
Warrant term | 5 years | |||||||||||
Warrant purchase of shares | 74,375,000 | |||||||||||
Shares of common stock, commitment shares | 16,527,775 | |||||||||||
Fixed Convertible Promissory Note [Member] | BHP Capital NY Inc [Member] | ||||||||||||
Short-Term Debt [Line Items] | ||||||||||||
Debt term | 1 year | |||||||||||
Interest rate | 12% | |||||||||||
Debt conversion price | $ 0.0002 | |||||||||||
Lowest closing price | 16% | |||||||||||
Warrant exercise price | $ 0.0004 | |||||||||||
Debt maturity date | Jul. 14, 2023 | |||||||||||
Fixed convertible promissory note, amount | $ 25,000 | |||||||||||
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 LLC [Member] | ||||||||||||
Short-Term Debt [Line Items] | ||||||||||||
Debt term | 1 year | |||||||||||
Interest rate | 12% | |||||||||||
Debt conversion price | $ 0.0002 | |||||||||||
Lowest closing price | 16% | |||||||||||
Warrant exercise price | $ 0.0004 | |||||||||||
Debt maturity date | Jul. 14, 2023 | |||||||||||
Fixed convertible promissory note, amount | $ 25,000 | |||||||||||
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 Defined Benefit Plan [Member] | ||||||||||||
Short-Term Debt [Line Items] | ||||||||||||
Debt term | 1 year | |||||||||||
Interest rate | 12% | |||||||||||
Debt conversion price | $ 0.0002 | |||||||||||
Lowest closing price | 16% | |||||||||||
Warrant exercise price | $ 0.0004 | |||||||||||
Debt maturity date | Jul. 15, 2023 | |||||||||||
Fixed convertible promissory note, amount | $ 10,000 | |||||||||||
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 Defined Contribution Plan [Member] | ||||||||||||
Short-Term Debt [Line Items] | ||||||||||||
Debt term | 1 year | |||||||||||
Interest rate | 12% | |||||||||||
Debt conversion price | $ 0.0002 | |||||||||||
Lowest closing price | 16% | |||||||||||
Warrant exercise price | $ 0.0004 | |||||||||||
Debt maturity date | Jul. 15, 2023 | |||||||||||
Fixed convertible promissory note, amount | $ 2,500 | |||||||||||
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 | 1 year | 1 year | |||||||||
Interest rate | 12% | 12% | 12% | |||||||||
Debt conversion price | $ 0.0002 | $ 0.0002 | $ 0.0002 | |||||||||
Lowest closing price | 16% | 16% | 16% | |||||||||
Warrant exercise price | $ 0.0004 | $ 0.0004 | $ 0.0004 | |||||||||
Debt maturity date | Sep. 12, 2023 | Jul. 27, 2023 | Jul. 15, 2023 | |||||||||
Fixed convertible promissory note, amount | $ 15,000 | $ 25,000 | $ 2,500 | |||||||||
Warrant term | 5 years | 5 years | 5 years | |||||||||
Warrant purchase of shares | 37,500,000 | 62,500,000 | 6,250,000 | |||||||||
Shares of common stock, commitment shares | 212,500,000 | 212,500,000 | 21,250,000 |
STOCK OPTIONS AND WARRANTS (Det
STOCK OPTIONS AND WARRANTS (Details Narrative) | Mar. 31, 2023 shares |
Lloyd Spencer [Member] | Transaction Two [Member] | |
Short-Term Debt [Line Items] | |
Class of warrants or option outstanding | 1,146,000,000 |
COMMITMENTS AND CONTINGENCIES (
COMMITMENTS AND CONTINGENCIES (Details Narrative) - USD ($) | 3 Months Ended | |||
May 13, 2006 | Mar. 31, 2023 | Mar. 31, 2022 | Dec. 31, 2022 | |
Product Information [Line Items] | ||||
Officers compensations expense | $ 37,500 | $ 37,500 | ||
Officer compensation liability | $ 912,000 | $ 874,500 | ||
One Customer [Member] | Revenue Benchmark [Member] | Customer Concentration Risk [Member] | ||||
Product Information [Line Items] | ||||
Concentration risk, percentage | 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 and the automatic renewal of successive one year periods unless terminated and provides for compensation to Spencer of $12,500 per month. Either party may terminate the Agreement provided more than 60 days prior written notice is given the other party. If the Company terminates Spencer without Just Cause or Spencer terminates employment with Good Reason, Spencer will be entitled to accrued but unpaid salary and benefits through the date of termination and shall receive a severance payment equal to one month’s current salary for each full year of employment, with a minimum severance payment of three months and a maximum of six months’ pay. If Spencer is terminated for Just Cause or resigns without Good Reason, Spencer will be entitled only to salary and benefits accrued but unpaid through the date of termination and shall receive no amount for severance. | |||
Compensation provided | $ 12,500 |
SUBSEQUENT EVENTS (Details Narr
SUBSEQUENT EVENTS (Details Narrative) - Subsequent Event [Member] | Apr. 21, 2023 | Apr. 08, 2023 |
CarbonMeta Research India [Member] | Fermion Electric Private Limited [Member] | ||
Subsequent Event [Line Items] | ||
Equity ownership percentage | 20% | |
CarbonMeta Research India [Member] | Parent Company [Member] | ||
Subsequent Event [Line Items] | ||
Equity ownership percentage | 80% | |
CarbonMeta Green Resources Canada [Member] | North Bay Resources, Inc [Member] | ||
Subsequent Event [Line Items] | ||
Equity ownership percentage | 49% | |
CarbonMeta Green Resources Canada [Member] | Parent Company [Member] | ||
Subsequent Event [Line Items] | ||
Equity ownership percentage | 51% |