Cover
Cover - shares | 9 Months Ended | |
Sep. 30, 2021 | Nov. 05, 2021 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Document Period End Date | Sep. 30, 2021 | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2021 | |
Current Fiscal Year End Date | --12-31 | |
Entity File Number | 333-106299 | |
Entity Registrant Name | C2E ENERGY INC. | |
Entity Central Index Key | 0001160798 | |
Entity Tax Identification Number | 65-1139235 | |
Entity Incorporation, State or Country Code | FL | |
Entity Address, Address Line One | 1185 Avenue of the Americas | |
Entity Address, Address Line Two | 3rd Floor | |
Entity Address, City or Town | New York | |
Entity Address, State or Province | NY | |
Entity Address, Postal Zip Code | 10036 | |
City Area Code | 646 | |
Local Phone Number | 768 -8417 | |
Entity Current Reporting Status | No | |
Entity Interactive Data Current | No | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | true | |
Entity Common Stock, Shares Outstanding | 1,994,657,080 |
BALANCE SHEETS (Unaudited)
BALANCE SHEETS (Unaudited) - USD ($) | Sep. 30, 2021 | Dec. 31, 2020 |
ASSETS | ||
Total Assets | ||
LIABILITIES & STOCKHOLDERS’ DEFICIT | ||
Accounts payable | 140,527 | |
Note payable related parties | 25,035 | 5,000 |
Total liabilities | 165,562 | 5,000 |
Commitments and Contingencies | ||
Stockholders’ Equity | ||
Preferred Series $0.0001 par value, 20,000,000 shares authorized, 10,000,000 and -0- shares issued and outstanding, September 30, 2021 and December 31,2020, respectively | 1,000 | |
Common stock, $0.0001 par value; 2,000,000,000 shares authorized, 1,994,657,080 shares issued and outstanding September 30, 2020 and December 31, 2020 | 199,466 | 199,466 |
Additional paid in capital | 70,857,492 | 70,558,869 |
Retained earnings (deficit) | (71,223,520) | (70,763,335) |
Total Stockholders’ (Deficit) | (165,562) | (5,000) |
Total Liabilities and Stockholders’ (Equity) |
BALANCE SHEETS (Unaudited) (Par
BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares | Sep. 30, 2021 | Dec. 31, 2020 |
Statement of Financial Position [Abstract] | ||
Preferred Stock, Par or Stated Value Per Share | $ 0.0001 | $ 0.0001 |
Preferred series shares authorized | 20,000,000 | 20,000,000 |
Preferred series, shares issued | 10,000,000 | 0 |
Preferred Series,shares outstanding | 10,000,000 | 0 |
Common Stock, Par Value | $ 0.0001 | $ 0.0001 |
Common Stock, Shares Authorized | 2,000,000,000 | 2,000,000,000 |
Common stock,shares issued | 1,994,657,080 | 1,994,657,080 |
Common stock,shares outstanding | 1,994,657,080 | 1,994,657,080 |
STATEMENTS OF OPERATIONS (Unaud
STATEMENTS OF OPERATIONS (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Income Statement [Abstract] | ||||
Revenue | ||||
Operating Expenses: | ||||
Administrative expenses -related party | 100,035 | 460,185 | ||
Total operating expenses | 100,035 | 460,185 | ||
(Loss) from operations | (100,035) | (460,185) | ||
Other expense | ||||
Other (expense) net | ||||
Income (loss) before provision for income taxes | (100,035) | (460,185) | ||
Provision for income taxes | ||||
Net (Loss) | $ (100,035) | $ (460,185) | ||
Basic and diluted earnings(loss) per common share | $ 0 | $ 0 | ||
Weighted average number of shares outstanding | 1,994,657,080 | 1,994,657,080 | 1,994,657,080 | 1,994,657,080 |
STATEMENTS OF CHANGES IN STOCKH
STATEMENTS OF CHANGES IN STOCKHOLDER'S EQUITY (Unaudited) - USD ($) | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Beginning balance, value at Dec. 31, 2019 | $ 199,466 | $ 70,558,869 | $ (70,758,335) | ||
Beginning balance, shares at Dec. 31, 2019 | 1,994,657,080 | ||||
Net loss | |||||
Ending balance, value at Mar. 31, 2020 | $ 199,466 | 70,558,869 | (70,758,335) | ||
Ending balance, shares at Mar. 31, 2020 | 1,994,657,080 | ||||
Net loss | |||||
Ending balance, value at Jun. 30, 2020 | $ 199,466 | 70,558,869 | (70,758,335) | ||
Ending balance, shares at Jun. 30, 2020 | 1,994,657,080 | ||||
Net loss | |||||
Ending balance, value at Sep. 30, 2020 | $ 199,466 | 70,558,869 | (70,758,335) | ||
Ending balance, shares at Sep. 30, 2020 | 1,994,657,080 | ||||
Beginning balance, value at Dec. 31, 2020 | $ 199,466 | 70,558,869 | (70,763,335) | (5,000) | |
Beginning balance, shares at Dec. 31, 2020 | 1,994,657,080 | ||||
Net loss | (29,745) | (29,745) | |||
Ending balance, value at Mar. 31, 2021 | $ 199,466 | 70,558,869 | (70,793,080) | (34,745) | |
Ending balance, shares at Mar. 31, 2021 | 1,994,657,080 | ||||
Net loss | (330,405) | (330,405) | |||
Issuance of preferred stock for services | $ 1,000 | $ 249,000 | $ 250,000 | ||
Issuance of preferred stock for services, shares | 10,000,000 | ||||
Forgiveness of related party debt | 49,623 | 49,623 | |||
Ending balance, value at Jun. 30, 2021 | $ 1,000 | $ 199,466 | $ 70,857,492 | (71,123,485) | $ (65,527) |
Ending balance, shares at Jun. 30, 2021 | 10,000,000 | 1,994,657,080 | |||
Net loss | (100,035) | (100,035) | |||
Ending balance, value at Sep. 30, 2021 | $ 1,000 | $ 199,466 | $ 70,857,492 | $ (71,223,520) | $ (165,562) |
Ending balance, shares at Sep. 30, 2021 | 10,000,000 | 1,994,657,080 |
STATEMENTS OF CASH FLOWS (Unaud
STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) | 9 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Cash Flows From Operating Activities: | ||
Net loss | $ (460,185) | |
Stock based compensation | 250,000 | |
Changes is assets and liabilities: | ||
Accounts payable | 140,527 | |
Net cash provided by (used for) operating activities | (69,658) | |
Cash Flows From Investing Activities: | ||
Net cash provided by (used for) investing activities | ||
Cash Flows From Financing Activities: | ||
Proceeds from related party loans | 69,658 | |
Net cash provided by (used for) financing activities | 69,658 | |
Net Increase (Decrease) In Cash | ||
Cash At The Beginning Of The Period | ||
Cash At The End Of The Period |
ORGANIZATION AND DESCRIPTION OF
ORGANIZATION AND DESCRIPTION OF BUSINESS | 9 Months Ended |
Sep. 30, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
ORGANIZATION AND DESCRIPTION OF BUSINESS | NOTE 1 – ORGANIZATION AND DESCRIPTION OF BUSINESS C2E Energy, Inc.(‘the Company”) f/k/as Odyssey Oil & Energy, Inc. was formed in Florida in August 2001 with the plan of becoming a direct marketing company that developed and marketed premium-quality, premium-priced, branded fitness, and exercise equipment to the home fitness equipment market. The original business plan included marketing products directly to consumers through a variety of direct marketing channels. As an initial step, the Company licensed the rights to a portable gym subject to patent protection in the United States, which was eligible to be marketed under the trademark Better Buns. It was the Company’s intention for this product to be its first direct-marketed product. The Company was unsuccessful in its attempts to raise funding to pursue this goal and in May 2005, received notice that it was in breach of its license agreement for the Better Buns product and that the license was being terminated. Since inception to date, the Company has not generated any revenues through the sale of the Better Buns product or otherwise, and has not engaged in any marketing activities due to limited funds and resources. In September 2005, the Company changed focus in connection with the Merger of a wholly-owned subsidiary of the Company and CardioBioMedical Corporation (“CBM”), a Delaware corporation. The subsidiary merged with and into CBM, with CBM as the surviving corporation which became a subsidiary of the Company. The consideration for the merger consisted of 66,232,527 shares of the Company common stock, $.0001 par value, payable on a one-for-one basis to the consenting shareholders of CBM and a warrant, exercisable beginning January 1, 2008, to purchase 19,500,000 The new objective of the Company was to establish a medical device, the Cardio Spectrum Diagnostic System as the standard of care for the detection of early-stage ischemic heart disease. The Company’s strategy consisted of (i) attempting to obtain insurance reimbursement for the performance of the diagnostic test (ii) establish the device with cardiologists and (iii) finally gain acceptance and use by other physician specialties and hospitals. The Company was unsuccessful in its attempts to obtain insurance reimbursement and marketing CSD. On April 21, 2006, we began the realization of our new strategy by purchasing a 10 On November 21, 2007, we entered into a new phase of our strategy by acquiring a Uranium Prospect known as Springbok Flats in the Bela District of South Africa. On January 15, 2008, the Company’s well operator determined that the Leslie 1 Well of BBB Area, Wharton Texas, was no longer commercially viable and the well was plugged and abandoned. On June 16, 2008, the Company acquired ALG Bio Oils Limited, which in turn owns 100 The Company intended to expand the making of biofuels from algae to other large mining companies in South Africa. On May 26, 2009, the Company acquired 51 51 Prior to February 2021, the Company has been dormant for the approximately the last eight years. On February 10, 2021, as a result of a custodianship in Palm Beach, Florida Case Number: 502020CA013695XXXXMB AB, On February 10, 2021, the Custodian appointed David Lazar as the Company’s Chief Executive Officer, President, Secretary, Chief Financial Officer, Chief Executive Officer, and Chairman of the Board of Directors. On September 28, 2021, as a result of a private transaction, 10,000,000 0.0001 250,000 On September 28, 2021, the existing director and officer resigned immediately. Accordingly, David Lazar, serving as a director and an officer, ceased to be the Company’s Chief Executive Officer, Chief Financial Officer, President, Treasurer, Secretary, and a Director. At the effective date of the transfer, Arthur Li consented to act as the new President, CEO, CFO, Treasurer, Secretary, and Chairman of the Board of Directors of the Company. Arthur Li has been the Managing Director of Hunthall Limited from October 2019 through the present. From February 2019 to September 2019, he was a Corporate Finance Executive at Anglo Chinese Group Ltd. From July 2016 to December 2018, Arthur Li was the Director of Marketing at Transcosmos America Inc. |
SUMMARY OF SIGNIFICANT ACCOUNTI
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 9 Months Ended |
Sep. 30, 2021 | |
Accounting Policies [Abstract] | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying financial statements have been prepared in accordance with the Financial Accounting Standards Board (“ FASB Codification GAAP Going Concern The accompanying financial statements have been prepared assuming the Company will continue as a going concern, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business for the twelve months following the date of these financial statements. As of September 30, 2021, the Company had no cash, negative working capital of $ 165,562 71,223,520 Because the Company does not expect that existing operational cash flow will be sufficient to fund presently anticipated operations, this raises substantial doubt about the Company’s ability to continue as a going concern. Therefore, the Company will need to raise additional funds and is currently exploring alternative sources of financing. Currently, the Company is being funded by Hunthall Ltd. who has extended interest-free demand loans to the Company. There can no assurance that he will continue to fund the Company. Management’s Representation of Interim Financial Statements The accompanying unaudited financial statements have been prepared by the Company without audit pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). The Company uses the same accounting policies in preparing quarterly and annual financial statements. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) have been condensed or omitted as allowed by such rules and regulations, and management believes that the disclosures are adequate to make the information presented not misleading. These financial statements include all of the adjustments, which in the opinion of management are necessary to a fair presentation of financial position and results of operations. All such adjustments are of a normal and recurring nature. Interim results are not necessarily indicative of results for a full year. Use of Estimates The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of 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 most significant estimates relate to income taxes and contingencies. The Company bases its estimates on historical experience, known or expected trends, and various other assumptions that are believed to be reasonable given the quality of information available as of the date of these financial statements. The results of these assumptions provide the basis for making estimates about the carrying amounts of assets and liabilities that are not readily apparent from other sources. Actual results could differ from these estimates. Cash and cash equivalents The Company considers all highly liquid temporary cash investments with an original maturity of three months or less to be cash equivalents. On September 30, 2021, and December 31, 2020, the Company’s cash equivalents totaled $- 0 0 Income taxes The Company accounts for income taxes under FASB ASC 740, “Accounting for Income Taxes” “Accounting for Uncertainty in Income Taxes” The amount recognized is measured as the largest amount of benefit that is greater than 50 percent likely of being realized upon ultimate settlement. The Company assesses the validity of its conclusions regarding uncertain tax positions quarterly to determine if facts or circumstances have arisen that might cause it to change its judgment regarding the likelihood of a tax position’s sustainability under audit. Net Loss per Share Net loss per common share is computed by dividing net loss by the weighted average common shares outstanding during the period as defined by Financial Accounting Standards, ASC Topic 260, “Earnings per Share.” Basic earnings per common share (“EPS”) calculations are determined by dividing net income by the weighted average number of shares of common stock outstanding during the year. Diluted earnings per common share calculations are determined by dividing net income by the weighted average number of common shares and dilutive common share equivalents outstanding. Recent Accounting Pronouncements There are no recent accounting pronouncements that impact the Company’s operations. |
NOTES PAYABLE-RELATED PARTY
NOTES PAYABLE-RELATED PARTY | 9 Months Ended |
Sep. 30, 2021 | |
Related Party Transactions [Abstract] | |
NOTES PAYABLE-RELATED PARTY | NOTE 3 – NOTES PAYABLE-RELATED PARTY As of September 30, 2021, and December 31, 2020, the balances of notes payable related party were $ 25,035 5,000 |
EQUITY
EQUITY | 9 Months Ended |
Sep. 30, 2021 | |
Equity [Abstract] | |
EQUITY | NOTE 4 – EQUITY Common Stock The Company has authorized 2,000,000,000 0.0001 1,994,657,080 The Company did not issue any common shares in 2021 or 2020. Preferred Stock The Company has authorized 20,000,000 0.0001 10,000,000 0 The preferred shares are convertible to common shares at a ratio of 40 to 1. |
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 9 Months Ended |
Sep. 30, 2021 | |
Commitments and Contingencies Disclosure [Abstract] | |
COMMITMENTS AND CONTINGENCIES | NOTE 5 – COMMITMENTS AND CONTINGENCIES The Company did not have any contractual commitments as of September 30, 2021, and December 31, 2020. |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 9 Months Ended |
Sep. 30, 2021 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | NOTE 6 – SUBSEQUENT EVENTS In accordance with SFAS 165 (ASC 855-10) management has performed an evaluation of subsequent events through the date that the financial statements were available to be issued and has determined that it does not have any material subsequent events to disclose in these financial statements. |
SUMMARY OF SIGNIFICANT ACCOUN_2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 9 Months Ended |
Sep. 30, 2021 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation The accompanying financial statements have been prepared in accordance with the Financial Accounting Standards Board (“ FASB Codification GAAP |
Going Concern | Going Concern The accompanying financial statements have been prepared assuming the Company will continue as a going concern, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business for the twelve months following the date of these financial statements. As of September 30, 2021, the Company had no cash, negative working capital of $ 165,562 71,223,520 Because the Company does not expect that existing operational cash flow will be sufficient to fund presently anticipated operations, this raises substantial doubt about the Company’s ability to continue as a going concern. Therefore, the Company will need to raise additional funds and is currently exploring alternative sources of financing. Currently, the Company is being funded by Hunthall Ltd. who has extended interest-free demand loans to the Company. There can no assurance that he will continue to fund the Company. |
Management’s Representation of Interim Financial Statements | Management’s Representation of Interim Financial Statements The accompanying unaudited financial statements have been prepared by the Company without audit pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). The Company uses the same accounting policies in preparing quarterly and annual financial statements. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) have been condensed or omitted as allowed by such rules and regulations, and management believes that the disclosures are adequate to make the information presented not misleading. These financial statements include all of the adjustments, which in the opinion of management are necessary to a fair presentation of financial position and results of operations. All such adjustments are of a normal and recurring nature. Interim results are not necessarily indicative of results for a full year. |
Use of Estimates | Use of Estimates The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of 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 most significant estimates relate to income taxes and contingencies. The Company bases its estimates on historical experience, known or expected trends, and various other assumptions that are believed to be reasonable given the quality of information available as of the date of these financial statements. The results of these assumptions provide the basis for making estimates about the carrying amounts of assets and liabilities that are not readily apparent from other sources. Actual results could differ from these estimates. |
Cash and cash equivalents | Cash and cash equivalents The Company considers all highly liquid temporary cash investments with an original maturity of three months or less to be cash equivalents. On September 30, 2021, and December 31, 2020, the Company’s cash equivalents totaled $- 0 0 |
Income taxes | Income taxes The Company accounts for income taxes under FASB ASC 740, “Accounting for Income Taxes” “Accounting for Uncertainty in Income Taxes” The amount recognized is measured as the largest amount of benefit that is greater than 50 percent likely of being realized upon ultimate settlement. The Company assesses the validity of its conclusions regarding uncertain tax positions quarterly to determine if facts or circumstances have arisen that might cause it to change its judgment regarding the likelihood of a tax position’s sustainability under audit. |
Net Loss per Share | Net Loss per Share Net loss per common share is computed by dividing net loss by the weighted average common shares outstanding during the period as defined by Financial Accounting Standards, ASC Topic 260, “Earnings per Share.” Basic earnings per common share (“EPS”) calculations are determined by dividing net income by the weighted average number of shares of common stock outstanding during the year. Diluted earnings per common share calculations are determined by dividing net income by the weighted average number of common shares and dilutive common share equivalents outstanding. |
Recent Accounting Pronouncements | Recent Accounting Pronouncements There are no recent accounting pronouncements that impact the Company’s operations. |
ORGANIZATION AND DESCRIPTION _2
ORGANIZATION AND DESCRIPTION OF BUSINESS (Details Narrative) - USD ($) | Jun. 25, 2021 | Aug. 27, 2009 | Jan. 01, 2008 | Jun. 28, 2021 | May 26, 2009 | Jun. 16, 2008 | Apr. 21, 2006 |
Defined Benefit Plan Disclosure [Line Items] | |||||||
Shares of common stock issued (in Shares) | 19,500,000 | ||||||
Working interest in oil and gas leases | 10.00% | ||||||
Authorized shares | 10,000,000 | ||||||
Preferred stock par value | $ 0.0001 | ||||||
Cash consideration | $ 250,000 | ||||||
A L G Bio Oils Limited [Member] | |||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||
Acquired percentage | 100.00% | ||||||
H Power Pty Ltd [Member] | |||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||
Acquired percentage | 51.00% | ||||||
Purchase cancelled, percentage | 51.00% |
SUMMARY OF SIGNIFICANT ACCOUN_3
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($) | 9 Months Ended | |
Sep. 30, 2021 | Dec. 31, 2020 | |
Accounting Policies [Abstract] | ||
Working capital | $ 165,562 | |
Retained Earnings (Accumulated Deficit) | 71,223,520 | $ 70,763,335 |
Cash equivalents | $ 0 | $ 0 |
NOTES PAYABLE-RELATED PARTY (De
NOTES PAYABLE-RELATED PARTY (Details Narrative) - USD ($) | Sep. 30, 2021 | Dec. 31, 2020 |
Related Party Transactions [Abstract] | ||
Notes payable related party | $ 25,035 | $ 5,000 |
EQUITY (Details Narrative)
EQUITY (Details Narrative) - $ / shares | 9 Months Ended | |
Sep. 30, 2021 | Dec. 31, 2020 | |
Equity [Abstract] | ||
Common stock, shares authorized | 2,000,000,000 | 2,000,000,000 |
Common stock par value (in Dollars per share) | $ 0.0001 | $ 0.0001 |
Common stock, shares issued | 1,994,657,080 | 1,994,657,080 |
Common stock, shares outstanding | 1,994,657,080 | 1,994,657,080 |
Preferred stock, shares authorized | 20,000,000 | 20,000,000 |
Preferred stock par value (in Dollars per share) | $ 0.0001 | $ 0.0001 |
Preferred series, shares issued | 10,000,000 | 0 |
Preferred Series,shares outstanding | 10,000,000 | 0 |
Preferred stock conversion basis | The preferred shares are convertible to common shares at a ratio of 40 to 1. |