Namliong SkyCosmos (NLSC) 10-Q 10 Aug 22 2022 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2022	Aug. 09, 2022
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Jun. 30, 2022
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2022
Current Fiscal Year End Date	--12-31
Entity File Number	000-55909
Entity Registrant Name	NAMLIONG SKYCOSMOS, INC.
Entity Central Index Key	0001342219
Entity Tax Identification Number	20-3240178
Entity Incorporation, State or Country Code	NV
Entity Address, Address Line One	No. 357
Entity Address, Address Line Two	Ren’ai Street
Entity Address, Address Line Three	Yongkang District
Entity Address, City or Town	Tainan City
Entity Address, Country	TW
Entity Address, Postal Zip Code	71072
City Area Code	886
Local Phone Number	2542372
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	true
Entity Common Stock, Shares Outstanding		14,706,513

Condensed Balance Sheets (Unaud

Condensed Balance Sheets (Unaudited) - USD ($)	Jun. 30, 2022	Dec. 31, 2021
Current asset:
Cash	$ 0	$ 0
TOTAL ASSETS	0	0
Current liabilities:
Accounts payable and accrued liabilities	7,000	755
Amount due to a director	45,679	0
Total current liabilities	52,679	755
TOTAL LIABILITIES	52,679	755
Commitments and contingencies
STOCKHOLDERS’ DEFICIT
Preferred Stock, 10,000,000 shares authorized, $0.001 par value, 0 shares issued and outstanding as of June 30, 2022 and December 31, 2021	0	0
Common stock, 300,000,000 shares authorized, $0.001 par value, 14,706,513 and 14,706,513 shares issued and outstanding at June 30, 2022 and December 31, 2021, respectively	14,706	14,706
Additional paid-in capital	49,435,627	49,435,627
Accumulated deficit	(49,503,012)	(49,451,088)
Stockholders’ deficit	(52,679)	(755)
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT	$ 0	$ 0

Condensed Balance Sheets (Una_2

Condensed Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Jun. 30, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Preferred Stock, Shares Authorized	10,000,000	10,000,000
Preferred Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001
Preferred Stock, Shares Issued	0	0
Preferred Stock, Shares Outstanding	0	0
Common Stock, Shares Authorized	300,000,000	300,000,000
Common Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001
Common Stock, Shares, Outstanding	14,706,513	14,706,513
Common Stock, Shares, Issued	14,706,513	14,706,513

Condensed Statements of Operati

Condensed Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Income Statement [Abstract]
Revenue, net	$ 0	$ 0	$ 0	$ 0
Operating expenses:
General and administrative expenses	17,174	263	51,924	2,037
Total operating expenses	17,174	263	51,924	2,037
(LOSS) INCOME FROM OPERATIONS	(17,174)	(263)	(51,924)	(2,037)
Income tax expense	0	0	0	0
NET (LOSS) INCOME	$ (17,174)	$ (263)	$ (51,924)	$ (2,037)
Net (loss) income per share – Basic	$ 0	$ 0	$ 0	$ 0
Net (loss) income per share – Diluted	$ 0	$ 0	$ 0	$ 0
Weighted average common shares outstanding
– Basic	14,706,513	1,956,452	14,706,513	1,956,452
– Diluted	14,706,513	1,956,452	14,706,513	1,956,452

Condensed Statements of Changes

Condensed Statements of Changes in Stockholders' Deficit (Unaudited) - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Beginning balance, value at Dec. 31, 2020	$ 1,956	$ 48,984,877	$ (49,057,571)	$ (69,438)
Shares, Outstanding, Beginning Balance at Dec. 31, 2020	1,956,452
Net loss for the period			(2,300)	(2,300)
Ending balance, value at Mar. 31, 2021	$ 1,956	48,984,877	(49,059,871)	(71,738)
Shares, Outstanding, Ending Balance at Mar. 31, 2021	1,956,452
Beginning balance, value at Dec. 31, 2020	$ 1,956	48,984,877	(49,057,571)	(69,438)
Shares, Outstanding, Beginning Balance at Dec. 31, 2020	1,956,452
Net loss for the period				(2,037)
Ending balance, value at Jun. 30, 2021	$ 1,956	48,984,877	(49,058,308)	(71,475)
Shares, Outstanding, Ending Balance at Jun. 30, 2021	1,956,452
Beginning balance, value at Mar. 31, 2021	$ 1,956	48,984,877	(49,059,871)	(71,738)
Shares, Outstanding, Beginning Balance at Mar. 31, 2021	1,956,452
Net loss for the period			(263)	(263)
Ending balance, value at Jun. 30, 2021	$ 1,956	48,984,877	(49,058,308)	(71,475)
Shares, Outstanding, Ending Balance at Jun. 30, 2021	1,956,452
Beginning balance, value at Dec. 31, 2021	$ 14,706	49,435,627	(49,451,088)	(755)
Shares, Outstanding, Beginning Balance at Dec. 31, 2021	14,706,513
Net loss for the period			(34,750)	(34,750)
Ending balance, value at Mar. 31, 2022	$ 14,706	49,435,627	(49,485,838)	(35,505)
Shares, Outstanding, Ending Balance at Mar. 31, 2022	14,706,513
Beginning balance, value at Dec. 31, 2021	$ 14,706	49,435,627	(49,451,088)	(755)
Shares, Outstanding, Beginning Balance at Dec. 31, 2021	14,706,513
Net loss for the period				(51,924)
Ending balance, value at Jun. 30, 2022	$ 14,706	49,435,627	(49,503,012)	(52,679)
Shares, Outstanding, Ending Balance at Jun. 30, 2022	14,706,513
Beginning balance, value at Mar. 31, 2022	$ 14,706	49,435,627	(49,485,838)	(35,505)
Shares, Outstanding, Beginning Balance at Mar. 31, 2022	14,706,513
Net loss for the period			(17,174)	(17,174)
Ending balance, value at Jun. 30, 2022	$ 14,706	$ 49,435,627	$ (49,503,012)	$ (52,679)
Shares, Outstanding, Ending Balance at Jun. 30, 2022	14,706,513

Condensed Statements of Cash Fl

Condensed Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended				6 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2022	Jun. 30, 2021
Cash flows from operating activities:
Net loss	$ (17,174)	$ (34,750)	$ (263)	$ (2,300)	$ (51,924)	$ (2,037)
Change in operating assets and liabilities:
Accounts payable and accrued liabilities					6,245	975
Accounts payable, related party					0	1,062
Net cash used in operating activities					(45,679)
Cash flows from financing activities:
Advance from a director					45,679	0
Net cash provided by financing activities					45,679	0
Net change in cash and cash equivalents					0	0
BEGINNING OF PERIOD		$ 0		$ 0	0	0
END OF PERIOD	$ 0		$ 0		0	0
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Cash paid for income taxes					0	0
Cash paid for interest					$ 0	$ 0

DESCRIPTION OF BUSINESS AND ORG

DESCRIPTION OF BUSINESS AND ORGANIZATION	6 Months Ended
	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
DESCRIPTION OF BUSINESS AND ORGANIZATION	NOTE – 1 DESCRIPTION OF BUSINESS AND ORGANIZATION Namliong Skycosmos, Inc. (formerly Kreido Biofuels, Inc.) (the “Company” or “KRBF”) was incorporated as Gemwood Productions, Inc. under the laws of the State of Nevada on February 7, 2005. Gemwood Productions, Inc. changed its name to Kreido Biofuels, Inc. on November 2, 2006. On April 19, 2022, we changed the company name to Namliong Skycosmos, Inc. Our current business will be to seek to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. We have not selected any specific business combination target and we have not, nor has anyone on our behalf, initiated any substantive discussions, directly or indirectly, with any business combination target. Our acquisition strategy will be to assess a broad range of potential business combination targets and complete a business combination. In doing so, we will evaluate the historical financial statements of the target, its management, and projected future results. In evaluating a prospective target business, we expect to conduct a thorough due diligence review that will encompass, among other things, meetings with incumbent management and employees, document reviews, inspection of facilities, as well as a review of financial and other information that will be made available to us. We are not prohibited from pursuing a business combination with a company that is affiliated with our management, but we have no plans to do so. We do not plan to retain a significant equity position after closing of any acquisition and management does not plan to continue as part of the new management team. We have not selected any specific business combination target. Our sole officer and director presently have, and in the future may have additional, fiduciary or contractual obligations to other entities pursuant to which such officer or director is or will be required to present a business combination opportunity. Accordingly, if our officer and director become aware of a business combination opportunity which is suitable for an entity to which he or she has then-current fiduciary or contractual obligations, he or she will honor his or her fiduciary or contractual obligations to present such opportunity to such entity. We do not believe, however, that the fiduciary duties or contractual obligations of our officer/director will materially affect our ability to complete our business combination. Our executive officer is not required to commit any specified amount of time to our affairs, and, accordingly, will have conflicts of interest in allocating management time among various business activities, including identifying potential business combination targets and monitoring the related due diligence. On December 14, 2021, certain shareholders owning 13,099,243 of our common stock, representing a majority of issued and outstanding shares, agreed to sell their shares to 6 shareholders. This constitutes a change in control of the Company.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE – 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The accompanying condensed financial statements reflect the application of certain significant accounting policies as described in this note and elsewhere in the accompanying financial statements and notes. l Basis of presentation These accompanying condensed financial statements have been prepared in U.S. Dollars in conformity with generally accepted accounting principles in the United States of America (“U.S. GAAP”) for interim financial information pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary to make the financial statements not misleading have been included. Operating results for the interim period ended June 30, 2022 are not necessarily indicative of the results that may be expected for the fiscal year ending December 31, 2022. The information included in this Form 10-Q should be read in conjunction with Management’s Discussion and Analysis, and the financial statements and notes thereto included in the Company’s Form 10-K for the fiscal year ended December 31, 2021, filed with the SEC on March 18, 2022. l Use of estimates and assumptions In preparing these condensed financial statements, management makes estimates and assumptions that affect the reported amounts of assets and liabilities in the balance sheet and revenues and expenses during the periods reported. Actual results may differ from these estimates. l Net loss per share Basic loss per share is calculated by dividing the Company’s net loss applicable to common shareholders by the weighted average number of common shares during the period. Diluted earnings per share is calculated by dividing the Company’s net income available to common shareholders by the diluted weighted average number of shares outstanding during the period. l Income taxes The Company adopted the ASC 740 Income tax The estimated future tax effects of temporary differences between the tax basis of assets and liabilities are reported in the accompanying balance sheets, as well as tax credit carry-backs and carry-forwards. The Company periodically reviews the recoverability of deferred tax assets recorded on its balance sheets and provides valuation allowances as management deems necessary. l Uncertain tax positions The Company did not take any uncertain tax positions and had no adjustments to its income tax liabilities or benefits pursuant to the ASC 740 provisions of Section 740-10-25 for the periods ended June 30, 2022 and 2021. l Related parties The Company follows the ASC 850-10, Related Party Pursuant to section 850-10-20 the related parties include a) affiliates of the Company; b) entities for which investments in their equity securities would be required, absent the election of the fair value option under the Fair Value Option Subsection of section 825–10–15, to be accounted for by the equity method by the investing entity; c) trusts for the benefit of employees, such as pension and Income-sharing trusts that are managed by or under the trusteeship of management; d) principal owners of the Company; e) management of the Company; f) other parties with which the Company may deal if one party controls or can significantly influence the management or operating policies of the other to an extent that one of the transacting parties might be prevented from fully pursuing its own separate interests; and g) other parties that can significantly influence the management or operating policies of the transacting parties or that have an ownership interest in one of the transacting parties and can significantly influence the other to an extent that one or more of the transacting parties might be prevented from fully pursuing its own separate interests. The condensed financial statements shall include disclosures of material related party transactions, other than compensation arrangements, expense allowances, and other similar items in the ordinary course of business. However, disclosure of transactions that are eliminated in the preparation of consolidated or combined financial statements is not required in those statements. The disclosures shall include: a) the nature of the relationship(s) involved; b) a description of the transactions, including transactions to which no amounts or nominal amounts were ascribed, for each of the periods for which income statements are presented, and such other information deemed necessary to an understanding of the effects of the transactions on the financial statements; c) the dollar amounts of transactions for each of the periods for which income statements are presented and the effects of any change in the method of establishing the terms from that used in the preceding period; and d) amount due from or to related parties as of the date of each balance sheet presented and, if not otherwise apparent, the terms and manner of settlement. l Commitments and contingencies The Company follows the ASC 450-20, Commitments If the assessment of a contingency indicates that it is probable that a material loss has been incurred and the amount of the liability can be estimated, then the estimated liability would be accrued in the Company’s condensed financial statements. If the assessment indicates that a potentially material loss contingency is not probable but is reasonably possible, or is probable but cannot be estimated, then the nature of the contingent liability, and an estimate of the range of possible losses, if determinable and material, would be disclosed. Loss contingencies considered remote are generally not disclosed unless they involve guarantees, in which case the guarantees would be disclosed. Management does not believe, based upon information available at this time that these matters will have a material adverse effect on the Company’s financial position, results of operations or cash flows. However, there is no assurance that such matters will not materially and adversely affect the Company’s business, financial position, and results of operations or cash flows. l Recent accounting pronouncements From time to time, new accounting pronouncements are issued by the Financial Accounting Standard Board (“FASB”) or other standard setting bodies and adopted by the Company as of the specified effective date. Unless otherwise discussed, the Company believes that the impact of recently issued standards that are not yet effective will not have a material impact on its financial position or results of operations upon adoption. The Company has reviewed all recently issued, but not yet effective, accounting pronouncements and does not believe the future adoption of any such pronouncements may be expected to cause a material impact on its financial condition or the results of its operations.

GOING CONCERN UNCERTAINTIES

GOING CONCERN UNCERTAINTIES	6 Months Ended
	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
GOING CONCERN UNCERTAINTIES	NOTE – 3 GOING CONCERN UNCERTAINTIES The accompanying condensed financial statements have been prepared using the going concern basis of accounting, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. In order to continue as a going concern, the Company will need, among other things, additional capital resources. Management's plan is to obtain such resources for the Company by obtaining capital from management sufficient to meet its minimal operating expenses and seeking equity and/or debt financing. However, Management cannot provide any assurances that the Company will be successful in accomplishing any of its plans, which raises substantial doubt about the ability of the Company to continue as a going concern. The ability of the Company to continue as a going concern is dependent upon its ability to successfully accomplish the plans described in the preceding paragraph and eventually secure other sources of financing and attain profitable operations. The accompanying financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.

AMOUNT DUE TO A DIRECTOR

AMOUNT DUE TO A DIRECTOR	6 Months Ended
	Jun. 30, 2022
Amount Due To Director
AMOUNT DUE TO A DIRECTOR	NOTE – 4 AMOUNT DUE TO A DIRECTOR The amount represented temporary advances from the Company’s director for working capital purpose, which were unsecured, interest-free and had no fixed terms of repayments.

STOCKHOLDERS_ DEFICIT

STOCKHOLDERS’ DEFICIT	6 Months Ended
	Jun. 30, 2022
Equity [Abstract]
STOCKHOLDERS’ DEFICIT	NOTE – 5 STOCKHOLDERS’ DEFICIT Preferred stock The Company’s authorized shares were 10,000,000 0.001 Common Stock The Company’s Articles of Incorporation authorize the issuance of up to 300,000,000 0.001 There were 14,706,513 14,706,513 There were no

INCOME TAX

INCOME TAX	6 Months Ended
	Jun. 30, 2022
Income Tax Disclosure [Abstract]
INCOME TAX	NOTE – 6 INCOME TAX On December 22, 2017, the 2019 Tax Cuts and Jobs Act (the “Tax Act”) was enacted into law including a one-time mandatory transition tax on accumulated foreign earnings and a reduction of the corporate income tax rate to 21% effective January 1, 2018, among others. We are required to recognize the effect of the tax law changes in the period of enactment, such as determining the transition tax, remeasuring our U.S. deferred tax assets and liabilities as well as reassessing the net realizability of our deferred tax assets and liabilities. The Company does not have any foreign earnings and therefore, we do not anticipate the impact of a transition tax. The cumulative tax effect at the expected rate of 21 Schedule of deferred taxes June 30, 2022 December 31, 2021 Net operating loss carryover $ 49,503,012 $ 49,451,088 Deferred tax asset 10,395,632 10,384,728 Impact of rate changes Less: valuation allowance (10,395,632 ) (10,384,728 ) Net deferred tax asset $ – $ – At June 30, 2022, the Company had net operating loss carry forwards of approximately $ 49,503,012 No tax benefit has been reported in the period ended June 30, 2022, the Company’s financial statements since the potential tax benefit is offset by a valuation allowance of the same amount. Due to the change in ownership provisions of the Tax Reform Act of 1986, net operating loss carry forwards for federal income tax reporting purposes are subject to annual limitations. A change in ownership may limit net operating loss carry forwards in future years. The benefits of our deferred tax assets, including our NOLs, built-in losses and tax credits would be reduced or potentially eliminated if we experienced an “ownership change” under Section 382. Based on our analysis performed as of June 30, 2022, the Company has experienced an ownership change as defined by Section 382, and, therefore, the NOLs, built-in losses and tax credits we have generated should be subject to a Section 382 limitation as of this reporting date.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	6 Months Ended
	Jun. 30, 2022
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	NOTE – 7 RELATED PARTY TRANSACTIONS During the three and six months ended June 30, 2022 and 2021, the Company has been provided with free office space by its shareholders. The management determined that such cost is nominal and did not recognize the rent expense in its condensed financial statements. Apart from the transactions and balances detailed elsewhere in these accompanying condensed financial statements, the Company has no other significant or material related party transactions during the periods presented.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE – 8 COMMITMENTS AND CONTINGENCIES As of June 30, 2022, the Company has no material commitments or contingencies.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	Jun. 30, 2022
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE – 9 SUBSEQUENT EVENTS In accordance with ASC Topic 855, “ Subsequent Events

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Basis of presentation	l Basis of presentation These accompanying condensed financial statements have been prepared in U.S. Dollars in conformity with generally accepted accounting principles in the United States of America (“U.S. GAAP”) for interim financial information pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary to make the financial statements not misleading have been included. Operating results for the interim period ended June 30, 2022 are not necessarily indicative of the results that may be expected for the fiscal year ending December 31, 2022. The information included in this Form 10-Q should be read in conjunction with Management’s Discussion and Analysis, and the financial statements and notes thereto included in the Company’s Form 10-K for the fiscal year ended December 31, 2021, filed with the SEC on March 18, 2022.
Use of estimates and assumptions	l Use of estimates and assumptions In preparing these condensed financial statements, management makes estimates and assumptions that affect the reported amounts of assets and liabilities in the balance sheet and revenues and expenses during the periods reported. Actual results may differ from these estimates.
Net loss per share	l Net loss per share Basic loss per share is calculated by dividing the Company’s net loss applicable to common shareholders by the weighted average number of common shares during the period. Diluted earnings per share is calculated by dividing the Company’s net income available to common shareholders by the diluted weighted average number of shares outstanding during the period.
Income taxes	l Income taxes The Company adopted the ASC 740 Income tax The estimated future tax effects of temporary differences between the tax basis of assets and liabilities are reported in the accompanying balance sheets, as well as tax credit carry-backs and carry-forwards. The Company periodically reviews the recoverability of deferred tax assets recorded on its balance sheets and provides valuation allowances as management deems necessary.
Uncertain tax positions	l Uncertain tax positions The Company did not take any uncertain tax positions and had no adjustments to its income tax liabilities or benefits pursuant to the ASC 740 provisions of Section 740-10-25 for the periods ended June 30, 2022 and 2021.
Related parties	l Related parties The Company follows the ASC 850-10, Related Party Pursuant to section 850-10-20 the related parties include a) affiliates of the Company; b) entities for which investments in their equity securities would be required, absent the election of the fair value option under the Fair Value Option Subsection of section 825–10–15, to be accounted for by the equity method by the investing entity; c) trusts for the benefit of employees, such as pension and Income-sharing trusts that are managed by or under the trusteeship of management; d) principal owners of the Company; e) management of the Company; f) other parties with which the Company may deal if one party controls or can significantly influence the management or operating policies of the other to an extent that one of the transacting parties might be prevented from fully pursuing its own separate interests; and g) other parties that can significantly influence the management or operating policies of the transacting parties or that have an ownership interest in one of the transacting parties and can significantly influence the other to an extent that one or more of the transacting parties might be prevented from fully pursuing its own separate interests. The condensed financial statements shall include disclosures of material related party transactions, other than compensation arrangements, expense allowances, and other similar items in the ordinary course of business. However, disclosure of transactions that are eliminated in the preparation of consolidated or combined financial statements is not required in those statements. The disclosures shall include: a) the nature of the relationship(s) involved; b) a description of the transactions, including transactions to which no amounts or nominal amounts were ascribed, for each of the periods for which income statements are presented, and such other information deemed necessary to an understanding of the effects of the transactions on the financial statements; c) the dollar amounts of transactions for each of the periods for which income statements are presented and the effects of any change in the method of establishing the terms from that used in the preceding period; and d) amount due from or to related parties as of the date of each balance sheet presented and, if not otherwise apparent, the terms and manner of settlement.
Commitments and contingencies	l Commitments and contingencies The Company follows the ASC 450-20, Commitments If the assessment of a contingency indicates that it is probable that a material loss has been incurred and the amount of the liability can be estimated, then the estimated liability would be accrued in the Company’s condensed financial statements. If the assessment indicates that a potentially material loss contingency is not probable but is reasonably possible, or is probable but cannot be estimated, then the nature of the contingent liability, and an estimate of the range of possible losses, if determinable and material, would be disclosed. Loss contingencies considered remote are generally not disclosed unless they involve guarantees, in which case the guarantees would be disclosed. Management does not believe, based upon information available at this time that these matters will have a material adverse effect on the Company’s financial position, results of operations or cash flows. However, there is no assurance that such matters will not materially and adversely affect the Company’s business, financial position, and results of operations or cash flows.
Recent accounting pronouncements	l Recent accounting pronouncements From time to time, new accounting pronouncements are issued by the Financial Accounting Standard Board (“FASB”) or other standard setting bodies and adopted by the Company as of the specified effective date. Unless otherwise discussed, the Company believes that the impact of recently issued standards that are not yet effective will not have a material impact on its financial position or results of operations upon adoption. The Company has reviewed all recently issued, but not yet effective, accounting pronouncements and does not believe the future adoption of any such pronouncements may be expected to cause a material impact on its financial condition or the results of its operations.

INCOME TAX (Tables)

INCOME TAX (Tables)	6 Months Ended
	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Schedule of deferred taxes	Schedule of deferred taxes June 30, 2022 December 31, 2021 Net operating loss carryover $ 49,503,012 $ 49,451,088 Deferred tax asset 10,395,632 10,384,728 Impact of rate changes Less: valuation allowance (10,395,632 ) (10,384,728 ) Net deferred tax asset $ – $ –

STOCKHOLDERS_ DEFICIT (Details

STOCKHOLDERS’ DEFICIT (Details Narrative) - $ / shares	Jun. 30, 2022	Dec. 31, 2021
Equity [Abstract]
Preferred Stock, Shares Authorized	10,000,000	10,000,000
Preferred Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001
Common Stock, Shares Authorized	300,000,000	300,000,000
Common Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001
Common Stock, Shares, Outstanding	14,706,513	14,706,513
Preferred Stock, Shares Outstanding	0	0

Income Tax (Details - Deferred

Income Tax (Details - Deferred taxes) - USD ($)	Jun. 30, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Net operating loss carryover	$ 49,503,012	$ 49,451,088
Deferred tax asset	10,395,632	10,384,728
Impact of rate changes
Less: valuation allowance	(10,395,632)	(10,384,728)
Net deferred tax asset

INCOME TAX (Details Narrative)

INCOME TAX (Details Narrative)	6 Months Ended
	Jun. 30, 2022 USD ($)
Income Tax Disclosure [Abstract]
Effective Income Tax Rate Reconciliation, Percent	21%
Operating Loss Carryforwards	$ 49,503,012