High Sierra (HSTI) 10-K 14 Apr 21 2020 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2020	Apr. 14, 2021	Jun. 30, 2020
Details
Registrant CIK	0001365388
Fiscal Year End	--12-31
Registrant Name	High Sierra Technologies, Inc.
SEC Form	10-K
Period End date	Dec. 31, 2020
Tax Identification Number (TIN)	84-1344320
Number of common stock shares outstanding		20,326,309
Public Float			$ 14,672,666.34
Filer Category	Non-accelerated Filer
Current with reporting	Yes
Interactive Data Current	Yes
Voluntary filer	No
Well-known Seasoned Issuer	No
Shell Company	false
Small Business	true
Emerging Growth Company	true
Ex Transition Period	false
Entity File Number	000-52036
Entity Incorporation, State or Country Code	CO
Entity Address, Address Line One	1495 Ridgeview Drive, Suite 230A
Entity Address, City or Town	Reno
Entity Address, State or Province	NV
Entity Address, Postal Zip Code	89519
City Area Code	775
Local Phone Number	410-4100
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Document Annual Report	true
Document Transition Report	false

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Current Assets
Cash	$ 41,770	$ 5,207
Total Current Assets	41,770	5,207
Property, Plant and Equipment, net	125,695	161,045
Total Assets	167,465	166,252
Current Liabilities
Notes payable	375,500	350,000
Notes payable - Related party	23,306	34,557
Accounts payable and accrued expenses	58,373	62,544
Accounts payable and accrued expenses - Related party	12,714	569
Total Current Liabilities	469,893	447,670
Long Term Liabilities
Convertible notes payable	50,000	0
Total Liabilities	519,893	447,670
Commitments and Contingencies	0	0
Stockholders' (Deficit)
Preferred stock no par value, non-voting, 5,000,000 shares authorized; 0 shares issued and outstanding	0	0
Common stock no par value, 50,000,000 shares authorized; 20,296,309 and 20,189,642 shares issued and outstanding at December 31, 2020 and 2019	471,849	237,348
Accumulated (Deficit)	(824,277)	(518,766)
Total Stockholders' Equity (Deficit)	(352,428)	(281,418)
Total Liabilities and Stockholders' Equity (Deficit)	$ 167,465	$ 166,252

CONSOLIDATED BALANCE SHEETS - P

CONSOLIDATED BALANCE SHEETS - Parenthetical - $ / shares	Dec. 31, 2020	Dec. 31, 2019
Details
Preferred Stock, No Par Value	$ 0	$ 0
Preferred Stock, Shares Authorized	5,000,000	5,000,000
Preferred Stock, Shares Issued	0	0
Preferred Stock, Shares Outstanding	0	0
Common Stock, No Par Value	$ 0	$ 0
Common Stock, Shares Authorized	50,000,000	50,000,000
Common Stock, Shares, Issued	20,296,309	20,189,642
Common Stock, Shares, Outstanding	20,296,309	20,189,642

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Details
Revenue	$ 0	$ 0
Operating Expenses
Depreciation	35,350	15,705
Crop loss	0	246,914
General and administrative expenses	222,561	200,030
Total operating expenses	257,911	462,649
(Loss) from operations	(257,911)	(462,649)
Other (expense)
Interest (expense)	(42,955)	(13,029)
Interest (expense) - related party	(4,645)	(569)
Total other (expense)	(47,600)	(13,598)
(Loss) before income taxes	(305,511)	(476,247)
Income Taxes	0	0
Net (loss)	$ (305,511)	$ (476,247)
(Loss) per share- Basic and diluted	$ (0.02)	$ (0.02)
Weighted average shares outstanding Basic and Diluted	20,215,453	20,309,094

Consolidated Statement of Stock

Consolidated Statement of Stockholders' Equity - USD ($)	Preferred Stock	Common Stock	Retained Earnings	Total
Preferred Stock, Shares Outstanding	0
Common Stock, Shares, Outstanding		20,189,643
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	$ 0	$ 237,348	$ (42,519)	$ 194,829
Balance at Dec. 31, 2018	0
Balance at Dec. 31, 2018		20,189,643
Balance at Dec. 31, 2018	$ 0	$ 237,348	(42,519)	$ 194,829
Preferred Stock, Shares Outstanding	0			0
Common Stock, Shares, Outstanding		20,189,642		20,189,642
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	$ 0	$ 237,348	(518,766)	$ (281,418)
Warrants issued for consulting expenses				0
Net (loss)	$ 0	$ 0	(476,247)	$ (476,247)
Balance at Dec. 31, 2019	0			0
Balance at Dec. 31, 2019		20,189,642		20,189,642
Balance at Dec. 31, 2019	$ 0	$ 237,348	(518,766)	$ (281,418)
Preferred Stock, Shares Outstanding	0			0
Common Stock, Shares, Outstanding		20,189,642		20,189,642
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	$ 0	$ 237,348	(518,766)	$ (281,418)
Preferred Stock, Shares Outstanding	0			0
Common Stock, Shares, Outstanding		20,296,309		20,189,642
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	$ 0	$ 471,849	(824,277)	$ (352,428)
Common stock issued for cash		106,667		106,667
Common stock issued for cash	0	$ 160,001	0	$ 160,001
Warrants issued for consulting expenses		0
Warrants issued for consulting expenses	0	$ 74,500	0	74,500
Net (loss)	$ 0	$ 0	(305,511)	$ (305,511)
Balance at Dec. 31, 2020	0			0
Balance at Dec. 31, 2020		20,296,309		20,296,309
Balance at Dec. 31, 2020	$ 0	$ 471,849	(824,277)	$ (352,428)
Preferred Stock, Shares Outstanding	0			0
Common Stock, Shares, Outstanding		20,296,309		20,296,309
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	$ 0	$ 471,849	$ (824,277)	$ (352,428)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES
Net (loss)	$ (305,511)	$ (476,247)
Depreciation	35,350	15,705
Warrants issued for consulting expenses	74,500	0
Increase (decrease) in accounts payable and accrued expenses	(4,171)	37,120
Increase in accounts payable and accrued expenses - related party	12,145	569
Net cash provided by (used in) operating activities	(187,687)	(422,853)
Purchase of property, plant and equipment	0	(176,750)
Net cash provided by (used in) investing activities	0	(176,750)
Proceeds from sale of common stock	160,001	0
Proceeds from notes payable	25,500	350,000
Proceeds from convertible notes payable	50,000	0
Proceeds from notes payable - related party	18,749	34,557
Repayments on notes payable - related party	(30,000)	0
Net cash provided by (used in) financing activities	224,250	384,557
Net increase (decrease) in cash	36,563	(215,046)
CASH AT BEGINNING OF PERIOD	5,207	220,253
CASH AT END OF PERIOD	41,770	5,207
SUPPLEMENTAL CASH FLOW DISCLOSURES:
Cash paid for Interest	14,500	2,250
Cash paid for Income taxes	$ 0	$ 0

Summary of History and Signific

Summary of History and Significant Accounting Policies	12 Months Ended
	Dec. 31, 2020
Notes
Summary of History and Significant Accounting Policies	NOTE 1: Summary of History and Significant Accounting Policies Nature of Operations Gulf & Orient Steamship Company, LTD. (“Gulf” or the “Company”) was incorporated in the State of Colorado on May 9, 1996. Gulf originally intended to engage in the business of marine transportation. On December 31, 2018, Gulf entered into a Share Exchange Agreement with High Sierra Technologies, Inc., a Nevada corporation (“High Sierra”), and all of its shareholders. The shareholders of High Sierra were issued shares of the Gulf’s common stock on a one for one share basis in exchange for their shares of High Sierra’s common stock. High Sierra became a wholly-owned subsidiary of Gulf in the business combination. The Share Exchange was treated as a reverse merger and recapitalization, and as a result, the consolidated financial statements are presented under successor entity reporting, with an inception date of August 6, 2018. Subsequently Gulf’s name was changed to High Sierra Technologies, Inc. High Sierra Technologies, Inc., the wholly-owned subsidiary, was incorporated in the State of Nevada on August 6, 2018. It was formed with the intention that it would become the assignee, owner and licensor of certain Intellectual Property that was, prior to assignment, the property of Vincent C. Lombardi, Ph.D. (the “Intellectual Property”) who is an officer, director and co-founder of the subsidiary. The subsidiary was further formed with the goal that it would continue to develop and expand its intellectual property portfolio with an emphasis on the recreational cannabis industry as well as the industrial hemp industry. Through its subsidiary, the Company is a start-up that develops patents and other products used in the processing of cannabis, including industrial hemp, and will license these technologies to companies in the industry. The Company will likely incur research and development expenses in the future and intends to develop a policy regarding the same. The Company was growing industrial hemp on a 200-acre property it leased in McDermitt, Nevada and incurred expenses in relation to this project and the failure of the crop during 2019 (see Note 3). Basis of presentation The accompanying consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America. The Company consolidates its subsidiaries in accordance with ASC 810, and specifically ASC 810-10-15-8 which states, "[t]he usual condition for a controlling financial interest is ownership of a majority voting interest, and, therefore, as a general rule ownership by one reporting entity, directly or indirectly, or over 50% of the outstanding voting shares of another entity is a condition pointing toward consolidation." All inter-company transactions have been eliminated during consolidation. Concentration of Risk The Company places its cash and temporary cash investments with established financial institutions. At times, such cash and investments may be in excess of the FDIC insurance limit. Cash and Cash Equivalents The Company considers all highly liquid investments purchased with original maturities of three months or less to be cash equivalents. Stock-based Compensation The Company records stock-based compensation in accordance with ASC 718, Compensation - Stock Based Compensation ASC 718 requires companies to estimate the fair value of share-based awards to employees and directors on the date of grant using an option-pricing model. The Company uses the Black-Scholes option-pricing model as its method of determining fair value. This model is affected by the Company's stock price as well as assumptions regarding a number of subjective variables. These subjective variables include but are not limited to the Company's expected stock price volatility over the term of the awards, and actual and projected employee stock option exercise behaviors. The value of the portion of the award that is ultimately expected to vest is recognized as an expense in the statement of operations over the requisite service period. Upon the adoption of ASU 2018-07, the Company measures the fair value of equity instruments for non-employee payment awards on the grant date. Investment in Growing Crops The Company’s Investment in Growing Crops represented the total cost of the crop inputs in the ground. These were recorded at cost and were to be expensed to cost of goods sold once the crops were harvested and sold. The crop harvest failed and the Company incurred a $246,914 loss from the preparation, planting and harvesting of the crop during 2019. Long-lived Assets Long-lived assets are stated at cost. Maintenance and repairs are expensed as incurred. Depreciation is determined using the straight-line method over the estimated useful lives of the assets, which is five years. Where an impairment of a property’s value is determined to be other than temporary, impairment for the estimated potential loss is recorded to adjust the property to its net realizable value. When items of building or equipment are sold or retired, the related cost and accumulated depreciation are removed from the accounts and any gain or loss is included in the results of operations. The Company does not have any long-lived tangible assets, which are considered impaired as of December 31, 2020 and 2019. The Company applies the provisions of ASC 360-10, Property, Plant and Equipment, Intangible Assets Goodwill and intangible assets are reviewed for potential impairment in accordance with ASC 350, Intangibles - Goodwill and Other Revenue Recognition The Company applies ASC 606, Revenue from Contracts with Customers Advertising Advertising costs are expensed as incurred. Advertising expenses for year ended December 31, 2020 and 2019 were $0. Fair Value of Financial Instruments The Company adopted ASC 820, Fair Value Measurements and Disclosures Level 1 — Quoted prices for identical assets and liabilities in active markets; Level 2 — Quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; and model-derived valuations in which all significant inputs and significant value drivers are observable in active markets; and Level 3 — Valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles 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 periods. Management makes these estimates using the best information available at the time the estimates are made; however actual results could differ materially from those estimates. Emerging Growth Company Critical Accounting Policy Disclosure The Company qualifies as an “emerging growth company” under the 2012 JOBS Act. Section 107 of the JOBS Act provides that an emerging growth company can take advantage of the extended transition period provided in Section 7(a)(2)(B) of the Securities Act for complying with new or revised accounting standards. As an emerging grown company, the Company can delay the adoption of certain accounting standards until those standards would otherwise apply to private companies. The Company . Income Taxes The Company accounts for income taxes under ASC 740-10-30, Income Taxes The Company adopted ASC 740-10-25, which addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under ASC 740-10-25, the Company may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position should be measured based on the largest benefit that has a greater than fifty percent (50%) likelihood of being realized upon ultimate settlement. ASC 740-10-25 also provides guidance on de-recognition, classification, interest and penalties on income taxes, accounting in interim periods and requires increased disclosures. The Company had no material adjustments to its liabilities for unrecognized income tax benefits according to the provisions of ASC 740-10-25. Loss Per Share Net loss per common share is computed pursuant to ASC 260-10-45, Earnings Per Share. Basic net loss per share is computed by dividing net loss by the weighted average number of shares of common stock outstanding during the period. Diluted net loss per share is computed by dividing net loss by the weighted average number of shares of common stock and potentially outstanding shares of common stock during each period, unless their effect is anti-dilutive due to continuing losses. As of December 31, 2020, the Company had a total of 83,333 (50,000 from outstanding warrants and 33,333 from convertible notes payable) potentially dilutive shares outstanding. As of December 31, 2019, there were no potentially dilutive shares outstanding. Recent Accounting Pronouncements We do not expect the adoption of recently issued accounting pronouncements to have a significant impact on our results of operations or financial position.

Going Concern

Going Concern	12 Months Ended
	Dec. 31, 2020
Notes
Going Concern	NOTE 2 – Financial Condition and Going Concern The Company’s financial statements have been presented on the basis that it is a going concern, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The Company has sustained operating losses during the current year and may not achieve the level of profitable operations to sustain its activities. These factors raise substantial doubt as to its ability to obtain debt and/or equity financing and achieve profitable operations. Management intends to raise additional operating funds through equity and/or debt offerings. However, there can be no assurance management will be successful in its endeavors. Ultimately, the Company will need to achieve profitable operations in order to continue as a going concern. 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 placement, public offerings and/or bank financing necessary to support its working capital requirements. To the extent that funds generated from operations and 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. If adequate working capital is not available to the Company, it may be required to curtail its operations.

Investment in Growing Crops

Investment in Growing Crops	12 Months Ended
	Dec. 31, 2020
Notes
Investment in Growing Crops	NOTE 3 – Investment in Growing Crops Investment in growing crops consist of the cost of the crop inputs in the ground at December 31, 2019 and were recorded at cost and were expensed to Crop Loss on the statement of operations during the fourth quarter of 2019 since the crop harvest and related farming activities failed. The Company incurred a loss from the crop activities in the amount of $246,914 during 2019. The Company is continuing to pursue opportunities in the recreational and industrial cannabis industries, but is not currently engaging in the growing of crops.

Property and Equipment

Property and Equipment	12 Months Ended
	Dec. 31, 2020
Notes
Property and Equipment	NOTE 4 – Property and Equipment At December 31, 2020 and 2019, property and equipment consisted of the following: Useful Lives December 31, 2020 December 31, 2019 Equipment 5 $ 176,750 176,750 Less: accumulated depreciation (51,055) (15,705) $ 125,695 161,045 Depreciation expense was $35,350 and $15,705 for the years ended December 31, 2020 and 2019, respectively.

Note Payable

Note Payable	12 Months Ended
	Dec. 31, 2020
Notes
Note Payable	NOTE 5 – Notes Payable The Company’s debt consists of the following: December 31, 2020 December 31, 2019 Note payable, 12-16% interest, interest and principal due June 6, 2021 through August 12, 2021, unsecured (1)(2) $375,500 $350,000 Notes payable – Series 2 Senior Convertible Secured Promissory Notes, 8% interest, interest and principle due October 21, 2023 through November 2, 2023(3) $50,000 - Total due 425,500 350,000 Current Portion 375,500 350,000 Long-term portion $ 50,000 $ - (1) (2) (3) The Company has incurred an interest expense of $42,955 and $13,029 during the years ended December 31, 2020 and 2019. The Company has interest accrued on the above notes in the amount of $31,985 and $29,819 at December 31, 2020 and 2019. NOTE 6 – Notes Payable-Related Party The Company’s related party debt consists of the following: December 31, 2020 December 31, 2019 Notes payable, 12% interest, interest and principal due June 30, 2021, unsecured(1) $23,306 $34,557 Total due 23,306 34,557 Current Portion 23,306 34,557 Long-term portion $ - $ - During the years ended December 31, 2020 and 2019, the Company borrowed $18,749 and $34,557, respectively, from our current President and director, Vincent C. Lombardi, in order to cover expenses being incurred in connection with the Company’s commercial hemp farming activities and general and administrative expenses as detailed below. A repayment of $30,000 on these related party notes was made in 2020 and none during the year ended December 31, 2019. The Company has incurred an interest expense of $4,645 and $569 during the years ended December 31, 2020 and 2019, respectively. The Company has interest accrued on the above notes in the amount of $5,214 and $569 at December 31, 2020 and 2019.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2020
Notes
Income Taxes	NOTE 7 – Income Taxes The Company adopted the provisions of ASC 740-10. ASC 740-10 clarifies the accounting for uncertainty in income taxes recognized in a company’s financial statements. ASC 740-10 requires a company to determine whether it is more likely than not that a tax position will be sustained upon examination based upon the technical merits of the position. If the more-likely-than-not threshold is met, a company must measure the tax position to determine the amount to recognize in the financial statements. The application of income tax law is inherently complex. Laws and regulation in this area are voluminous and are often ambiguous. As such, we are required to make many subjective assumptions and judgments regarding the income tax exposures. Interpretations and guidance surrounding income tax laws and regulations change over time. As such, changes in the subjective assumptions and judgments can materially affect amounts recognized in the balance sheets and statements of income. The Company has no unrecognized tax benefit, which would affect the effective tax rate if recognized. There has been no significant change in the unrecognized tax benefit during the year ended December 31, 2020. We classify interest and penalties arising from the underpayment of income taxes in the statement of income under general and administrative expenses. As of December 31, 2020, we had no accrued interest or penalties related to uncertain tax positions. Deferred taxes are provided on a liability method whereby deferred tax assets are recognized for deductible temporary differences and operating loss and tax credit carry forwards and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the reported amounts of assets and liabilities and their tax bases. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment. The components of deferred income tax assets (liabilities) at December 31, 2020 and 2019, were as follows: As of December 31, 2020: Balance Rate Tax Federal loss carryforward $749,777 21% $ 157,453 Valuation allowance (157,453) Deferred tax asset $ - As of December 31, 2019: Balance Rate Tax Federal loss carryforward $518,957 21% $ 108,941 Valuation allowance (108,941) Deferred tax asset $ - Due to the passage of the “Tax Cuts and Jobs Act” on December 20, 2017 the rate of the U.S. Federal Income Tax dropped from 34% to 21%, which is a flat percentage tax rate used for the calculation of the deferred income tax assets. The new law also changes the rules on NOL carry forward. The 20-year limitation was eliminated, giving the taxpayer the ability to carry forward losses indefinitely. However, utilization of NOL carry forwards arising after January 1, 2018, will now be limited to 80 percent of taxable income. The income tax provision differs from the amount on income tax determined by applying the U.S. federal income tax rate of 21% to pretax income from continuing operations for the years ended December 31, 2020 and 2019 due to the following: 2020 2019 Income tax (benefit) expense $ (64,157) $ (100,012) Non-deductible expenses 15,654 - Increase in valuation allowance 48,512 100,012 Provision for income taxes $ - $ -

Capital Changes

Capital Changes	12 Months Ended
	Dec. 31, 2020
Notes
Capital Changes	NOTE 8 – Capital Changes Offering of Securities Common stock We are offering a maximum of 2,000,000 Shares of common stock (“Shares”) exclusively to “accredited investors.” There is no minimum number of Shares to be sold pursuant to this offering other than the minimum purchase requirement. The offering price is $1.50 per Share ($3,000,000). This offering became effective February 4, 2020. The Company has sold and issued 106,667 shares of its common stock under this offering for gross proceeds of $160,001. Secured Convertible Notes Additionally, we are offering up to $1,000,000 in Series 2 Senior Convertible Secured Promissory Notes exclusively to “accredited investors”. The Notes will be in a minimum face amount/increment of $10,000 for a term of three years and shall bear interest at a rate at eight Percent (8%) per annum. The Notes will automatically convert to Common Stock of the Company if the Company has received $1,000,000 from its offering or any other source or sources at a conversion price of $1.50 per share. The Notes can also be voluntarily converted by the holder. The Payee shall also be issued Warrants for the purchase of common stock in the Company with a value equal to fifty percent (50%) of the face amount of the Note and effective as of the date of any Conversion to shares of common stock in the Company. Such Warrants shall be priced at $1.50 per share during the three-year term of the Note or any extension of the Note. The Company has sold $50,000 of the Series 2 Senior Convertible Secured Promissory Notes in 2020. These securities have not been registered with the United States Securities and Exchange Commission or with any state securities agency. These securities are being offered pursuant to exemptions from the registration requirements of the Securities Act of 1933, as amended pursuant to Rule 506 of Regulation D, and from the registration requirements of the securities laws of the states in which the securities will be offered. The securities are subject to certain restrictions on resale and may be resold only as permitted under applicable federal and state securities laws. Warrants Under an Investment Banking Agreement, the Company issued 50,000 warrants. The exercise price per share of the Common Stock under this Warrant is $.01 and is fully vested on the Issue Date and is non-cancellable nor non-redeemable. Common Stock Purchase Warrants As of December 31, 2020 and 2019, the following common stock purchase warrants were outstanding: Warrants Weighted Average Exercise Price Outstanding – December 31, 2018 - $ - Granted - - Canceled/forfeited - - Exercised - - Outstanding – December 31, 2019 - - Granted 50,000 (1) $0.01 Canceled/forfeited - - Exercised - - Outstanding – December 31, 2020 50,000 $ .01 (1) The Company granted 50,000 common stock purchase warrants in December 2020 to exercise at a purchase price of $.01. During 2020, none of the purchase warrants were exercised. The fair value of the outstanding common stock purchase warrants was calculated using the Black-Scholes option-pricing model with the following assumptions at the measurement date(s): Measurement date Dividend yield 0% Expected volatility 97.90~172.75% Risk-free interest rate 0.16~1.72% Expected life (years) 2.71~5.00 Stock Price $1.50 Exercise Price $0.01 The Company recorded a charge to operations in the amount of $74,500 to general and administrative expenses for the value of the warrants granted in 2020.

Commitments, Contingencies and

Commitments, Contingencies and Legal Matters	12 Months Ended
	Dec. 31, 2020
Notes
Commitments, Contingencies and Legal Matters	NOTE 9 – Contingencies, Commitments, Legal Matters and Consulting Agreements Management of the Company has conducted a diligent search and concluded that there were no commitments, contingencies, or legal matters pending at the balance sheet dates, other than what has been disclosed below. The Company has entered into several Consulting Agreements for the marketing of its securities, all of which will terminate in the year 2021. The Company on May 13, 2019 entered into an Agricultural Lease for approximately 200 acres in Northern Nevada to plant its Hemp Grow for 2019. The Company is no longer operating under this Agricultural Lease. Thus, there are no contingent liabilities thereunder. The term of the lease is for five years commencing May 18, 2019 through May 17, 2024. There are no minimum fixed monthly payments due on this lease, but an annual participation bonus in an amount equal to fifteen percent of the gross crop yield from the leasehold properties. The Gross Crop Yield is defined by the actual amount received from the crop harvest less all expenses derived from the growing, processing and sale of the crop harvested from the Property. The Company is solely responsible for all crop care, labor, irrigation, insurance, taxes, repairs and maintenance of the crop, equipment and other costs of planting, raising and harvesting of crops. The Company is responsible for all other miscellaneous cost to grow and take it to market. As the Company is no longer engaged in the activities contemplated by the Agricultural Lease, the Company is no longer subject to any such liabilities. Due to the lease payments being variable, the Company has not recorded a right of use asset or lease liability on the balance sheet and will recognize the variable lease payments in the period when the obligation for those payments has occurred in accordance with ASC 842, Leases No gross crop yields have been achieved by the Company to date, and therefore no lease payments have been made or required under the lease terms. The Hemp Grow farming activities were ceased at the end of 2019 and the leased property is not currently being used by the Company.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2020
Notes
Subsequent Events	NOTE 10 – Subsequent Events In accordance with ASC 855-10, the Company has analyzed its operations subsequent to December 31, 2020 through the date these financial statements were issued and has determined that it does not have any material subsequent events to disclose in these financial statement other than the events described immediately below. In 2021, the Company issued 20,000 shares total of its common stock to two unrelated parties. 10,000 of the shares were issued for $2,000 of services rendered, and the other 10,000 shares were issued pursuant to the exercise of a warrant at an exercise price of $0.01 per share. Also in 2021, the Company issued 10,000 shares of its common stock to its Vice President, Jeffrey M. Pogol, for $2,000 of services rendered.

Summary of History and Signif_2

Summary of History and Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2020
Policies
Nature of Operations	Nature of Operations Gulf & Orient Steamship Company, LTD. (“Gulf” or the “Company”) was incorporated in the State of Colorado on May 9, 1996. Gulf originally intended to engage in the business of marine transportation. On December 31, 2018, Gulf entered into a Share Exchange Agreement with High Sierra Technologies, Inc., a Nevada corporation (“High Sierra”), and all of its shareholders. The shareholders of High Sierra were issued shares of the Gulf’s common stock on a one for one share basis in exchange for their shares of High Sierra’s common stock. High Sierra became a wholly-owned subsidiary of Gulf in the business combination. The Share Exchange was treated as a reverse merger and recapitalization, and as a result, the consolidated financial statements are presented under successor entity reporting, with an inception date of August 6, 2018. Subsequently Gulf’s name was changed to High Sierra Technologies, Inc. High Sierra Technologies, Inc., the wholly-owned subsidiary, was incorporated in the State of Nevada on August 6, 2018. It was formed with the intention that it would become the assignee, owner and licensor of certain Intellectual Property that was, prior to assignment, the property of Vincent C. Lombardi, Ph.D. (the “Intellectual Property”) who is an officer, director and co-founder of the subsidiary. The subsidiary was further formed with the goal that it would continue to develop and expand its intellectual property portfolio with an emphasis on the recreational cannabis industry as well as the industrial hemp industry. Through its subsidiary, the Company is a start-up that develops patents and other products used in the processing of cannabis, including industrial hemp, and will license these technologies to companies in the industry. The Company will likely incur research and development expenses in the future and intends to develop a policy regarding the same. The Company was growing industrial hemp on a 200-acre property it leased in McDermitt, Nevada and incurred expenses in relation to this project and the failure of the crop during 2019 (see Note 3).
Basis of Presentation	Basis of presentation The accompanying consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America. The Company consolidates its subsidiaries in accordance with ASC 810, and specifically ASC 810-10-15-8 which states, "[t]he usual condition for a controlling financial interest is ownership of a majority voting interest, and, therefore, as a general rule ownership by one reporting entity, directly or indirectly, or over 50% of the outstanding voting shares of another entity is a condition pointing toward consolidation." All inter-company transactions have been eliminated during consolidation.
Concentration of Risk	Concentration of Risk The Company places its cash and temporary cash investments with established financial institutions. At times, such cash and investments may be in excess of the FDIC insurance limit.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all highly liquid investments purchased with original maturities of three months or less to be cash equivalents.
Stock-based Compensation	Stock-based Compensation The Company records stock-based compensation in accordance with ASC 718, Compensation - Stock Based Compensation ASC 718 requires companies to estimate the fair value of share-based awards to employees and directors on the date of grant using an option-pricing model. The Company uses the Black-Scholes option-pricing model as its method of determining fair value. This model is affected by the Company's stock price as well as assumptions regarding a number of subjective variables. These subjective variables include but are not limited to the Company's expected stock price volatility over the term of the awards, and actual and projected employee stock option exercise behaviors. The value of the portion of the award that is ultimately expected to vest is recognized as an expense in the statement of operations over the requisite service period. Upon the adoption of ASU 2018-07, the Company measures the fair value of equity instruments for non-employee payment awards on the grant date.
Investment in Growing Crops	Investment in Growing Crops The Company’s Investment in Growing Crops represented the total cost of the crop inputs in the ground. These were recorded at cost and were to be expensed to cost of goods sold once the crops were harvested and sold. The crop harvest failed and the Company incurred a $246,914 loss from the preparation, planting and harvesting of the crop during 2019.
Long-lived Assets	Long-lived Assets Long-lived assets are stated at cost. Maintenance and repairs are expensed as incurred. Depreciation is determined using the straight-line method over the estimated useful lives of the assets, which is five years. Where an impairment of a property’s value is determined to be other than temporary, impairment for the estimated potential loss is recorded to adjust the property to its net realizable value. When items of building or equipment are sold or retired, the related cost and accumulated depreciation are removed from the accounts and any gain or loss is included in the results of operations. The Company does not have any long-lived tangible assets, which are considered impaired as of December 31, 2020 and 2019. The Company applies the provisions of ASC 360-10, Property, Plant and Equipment,
Intangible Assets	Intangible Assets Goodwill and intangible assets are reviewed for potential impairment in accordance with ASC 350, Intangibles - Goodwill and Other
Revenue Recognition	Revenue Recognition The Company applies ASC 606, Revenue from Contracts with Customers
Advertising	Advertising Advertising costs are expensed as incurred. Advertising expenses for year ended December 31, 2020 and 2019 were $0.
Fair Value of Financial Instruments	Fair Value of Financial Instruments The Company adopted ASC 820, Fair Value Measurements and Disclosures Level 1 — Quoted prices for identical assets and liabilities in active markets; Level 2 — Quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; and model-derived valuations in which all significant inputs and significant value drivers are observable in active markets; and Level 3 — Valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles 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 periods. Management makes these estimates using the best information available at the time the estimates are made; however actual results could differ materially from those estimates.
Emerging Growth Company Critical Accounting Policy Disclosure	Emerging Growth Company Critical Accounting Policy Disclosure The Company qualifies as an “emerging growth company” under the 2012 JOBS Act. Section 107 of the JOBS Act provides that an emerging growth company can take advantage of the extended transition period provided in Section 7(a)(2)(B) of the Securities Act for complying with new or revised accounting standards. As an emerging grown company, the Company can delay the adoption of certain accounting standards until those standards would otherwise apply to private companies. The Company .
Income Taxes	Income Taxes The Company accounts for income taxes under ASC 740-10-30, Income Taxes The Company adopted ASC 740-10-25, which addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under ASC 740-10-25, the Company may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position should be measured based on the largest benefit that has a greater than fifty percent (50%) likelihood of being realized upon ultimate settlement. ASC 740-10-25 also provides guidance on de-recognition, classification, interest and penalties on income taxes, accounting in interim periods and requires increased disclosures. The Company had no material adjustments to its liabilities for unrecognized income tax benefits according to the provisions of ASC 740-10-25.
Income (loss) Per Common Share	Loss Per Share Net loss per common share is computed pursuant to ASC 260-10-45, Earnings Per Share. Basic net loss per share is computed by dividing net loss by the weighted average number of shares of common stock outstanding during the period. Diluted net loss per share is computed by dividing net loss by the weighted average number of shares of common stock and potentially outstanding shares of common stock during each period, unless their effect is anti-dilutive due to continuing losses. As of December 31, 2020, the Company had a total of 83,333 (50,000 from outstanding warrants and 33,333 from convertible notes payable) potentially dilutive shares outstanding. As of December 31, 2019, there were no potentially dilutive shares outstanding.
Recently Issued Accounting Pronouncements	Recent Accounting Pronouncements We do not expect the adoption of recently issued accounting pronouncements to have a significant impact on our results of operations or financial position.

Property and Equipment (Tables)

Property and Equipment (Tables)	12 Months Ended
	Dec. 31, 2020
Tables/Schedules
Property, Plant and Equipment	Useful Lives December 31, 2020 December 31, 2019 Equipment 5 $ 176,750 176,750 Less: accumulated depreciation (51,055) (15,705) $ 125,695 161,045

Note Payable (Tables)

Note Payable (Tables)	12 Months Ended
	Dec. 31, 2020
Tables/Schedules
Schedule of Long-term Debt Instruments	December 31, 2020 December 31, 2019 Note payable, 12-16% interest, interest and principal due June 6, 2021 through August 12, 2021, unsecured (1)(2) $375,500 $350,000 Notes payable – Series 2 Senior Convertible Secured Promissory Notes, 8% interest, interest and principle due October 21, 2023 through November 2, 2023(3) $50,000 - Total due 425,500 350,000 Current Portion 375,500 350,000 Long-term portion $ 50,000 $ - (1) (2) (3)
Notes Payable - Related Party	December 31, 2020 December 31, 2019 Notes payable, 12% interest, interest and principal due June 30, 2021, unsecured(1) $23,306 $34,557 Total due 23,306 34,557 Current Portion 23,306 34,557 Long-term portion $ - $ -

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2020
Tables/Schedules
Schedule of Deferred Tax Assets and Liabilities	As of December 31, 2020: Balance Rate Tax Federal loss carryforward $749,777 21% $ 157,453 Valuation allowance (157,453) Deferred tax asset $ - As of December 31, 2019: Balance Rate Tax Federal loss carryforward $518,957 21% $ 108,941 Valuation allowance (108,941) Deferred tax asset $ -
Schedule of Effective Income Tax Rate Reconciliation	2020 2019 Income tax (benefit) expense $ (64,157) $ (100,012) Non-deductible expenses 15,654 - Increase in valuation allowance 48,512 100,012 Provision for income taxes $ - $ -

Capital Changes (Tables)

Capital Changes (Tables)	12 Months Ended
	Dec. 31, 2020
Tables/Schedules
Schedule of Stockholders' Equity Note, Warrants or Rights	Warrants Weighted Average Exercise Price Outstanding – December 31, 2018 - $ - Granted - - Canceled/forfeited - - Exercised - - Outstanding – December 31, 2019 - - Granted 50,000 (1) $0.01 Canceled/forfeited - - Exercised - - Outstanding – December 31, 2020 50,000 $ .01
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques	Measurement date Dividend yield 0% Expected volatility 97.90~172.75% Risk-free interest rate 0.16~1.72% Expected life (years) 2.71~5.00 Stock Price $1.50 Exercise Price $0.01

Summary of History and Signif_3

Summary of History and Significant Accounting Policies (Details) - USD ($)	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Details
Crop loss		$ 0	$ 246,914
Advertising Expense	$ 0
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount		83,333

Investment in Growing Crops (De

Investment in Growing Crops (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Details
Crop loss	$ 0	$ 246,914

Property and Equipment (Details

Property and Equipment (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Details
Property, Plant and Equipment, Estimated Useful Lives	5
Property, Plant and Equipment, Gross	$ 176,750	$ 176,750
Property, Plant, and Equipment, Owned, Accumulated Depreciation	51,055	15,705
Property, Plant and Equipment, net	125,695	161,045
Depreciation	$ 35,350	$ 15,705

Note Payable (Details)

Note Payable (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Details
Notes payable	$ 375,500	$ 350,000
Proceeds from convertible notes payable	50,000	0
Notes Payable	425,500
Notes Payable, Noncurrent	50,000	0
Interest Expense	42,955	13,029
Note Payable Accrued Interest	31,985	29,819
Notes payable - Related party	23,306	34,557
Proceeds from notes payable - related party	18,749	34,557
Repayments on notes payable - related party	30,000	0
Interest Expense, Related Party	4,645	$ 569
Note Payable Accrued Interest Related Party	$ 5,214

Income Taxes (Details)

Income Taxes (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Details
Income tax (benefit) expense	$ (64,157)	$ (100,012)
Non-deductible expenses	15,654	0
Increase in valuation allowance	48,512	100,012
Provision for income taxes	$ 0	$ 0

Capital Changes (Details)

Capital Changes (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Details
Sale of Stock, Number of Shares Issued in Transaction	2,000,000
Sale of Stock, Price Per Share	$ 1.50
Common stock issued for cash	106,667
Proceeds from sale of common stock	$ 160,001	$ 0
Debt Instrument, Convertible, Terms of Conversion Feature	$1,000,000 in Series 2 Senior Convertible Secured Promissory Notes exclusively to “accredited investors”. The Notes will be in a minimum face amount/increment of $10,000 for a term of three years and shall bear interest at a rate at eight Percent (8%) per annum. The Notes will automatically convert to Common Stock of the Company if the Company has received $1,000,000 from its offering or any other source or sources at a conversion price of $1.50 per share. The Notes can also be voluntarily converted by the holder. The Payee shall also be issued Warrants for the purchase of common stock in the Company with a value equal to fifty percent (50%) of the face amount of the Note and effective as of the date of any Conversion to shares of common stock in the Company. Such Warrants shall be priced at $1.50 per share during the three-year term of the Note or any extension of the Note.
Proceeds from convertible notes payable	$ 50,000	$ 0
Class of Warrant or Right, Outstanding	50,000
$0.01	$ 0.01
172.75%	1.72%
Stock and Warrants Issued During Period, Value, Preferred Stock and Warrants	$ 74,500

Subsequent Events (Details)

Subsequent Events (Details) - USD ($)	3 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Details
Stock Issued During Period, Shares, Issued for Services	10,000
Stock Issued During Period, Value, Issued for Services	$ 2,000
Stock Issued During Period, Shares, Conversion of Convertible Securities	10,000
$0.01		$ 0.01