Cover
Cover - shares | 9 Months Ended | |
Sep. 30, 2020 | Jan. 31, 2021 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Sep. 30, 2020 | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2020 | |
Current Fiscal Year End Date | --12-31 | |
Entity File Number | 98-0542529 | |
Entity Registrant Name | Kallo Inc. | |
Entity Central Index Key | 0001389034 | |
Entity Incorporation, State or Country Code | NV | |
Entity Address, Address Line One | 255 Duncan Mill Road, | |
Entity Address, Address Line Two | Suite 504, | |
Entity Address, Address Line Three | Toronto | |
Entity Address, State or Province | ON | |
Entity Address, Country | CA | |
Entity Address, Postal Zip Code | M3B 3H9 | |
City Area Code | 416 | |
Local Phone Number | 246-9997 | |
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 | 1,147,698,199 |
Consolidated Balance Sheets (Un
Consolidated Balance Sheets (Unaudited) - USD ($) | Sep. 30, 2020 | Dec. 31, 2019 |
Current Assets: | ||
Prepaid expenses | ||
Total Current Assets | ||
TOTAL ASSETS | 0 | 0 |
Current Liabilities: | ||
Accounts payable and accrued liabilities | 4,072,183 | 3,860,499 |
Convertible loans payable - third parties | 283,870 | 265,217 |
Short term loans payable | 68,996 | 66,521 |
Convertible loans payable - related parties | 972,023 | 907,132 |
Liability for issuable shares | 10,436,290 | 1,724,290 |
Total Current Liabilities | 15,833,362 | 6,823,659 |
TOTAL LIABILITIES | 15,833,362 | 6,823,659 |
Commitments and Contingencies | ||
Stockholders' Deficiency | ||
Preferred stock, $0.00001 par value, 100,000,000 shares authorized, 95,000,000 Series A preferred shares issued and outstanding | 950 | 950 |
Common stock, $0.00001 par value, 1,150,000,000 shares authorized, 1,147,698,199 and 1,147,698,199 shares issued and outstanding, respectively. | 11,478 | 11,478 |
Additional paid-in capital | 41,920,116 | 41,920,116 |
Assignment of liabilities | (3,455,111) | (3,462,554) |
Accumulated deficit | (54,310,795) | (45,293,649) |
Total Stockholders' Deficiency | (15,833,362) | (6,823,659) |
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIENCY | $ 0 | $ 0 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - $ / shares | Sep. 30, 2020 | Dec. 31, 2019 |
Statement of Financial Position [Abstract] | ||
Preferred stock, par value | $ 0.00001 | $ 0.00001 |
Preferred stock, authorized | 100,000,000 | 100,000,000 |
Preferred stock, issued | 95,000,000 | 95,000,000 |
Preferred stock, outstanding | 95,000,000 | 95,000,000 |
Common stock, par value | $ 0.00001 | $ 0.00001 |
Common stock, authorized | 1,150,000,000 | 1,150,000,000 |
Common stock, issued | 1,147,698,199 | 1,147,698,199 |
Common Stock, outstanding | 1,147,698,199 | 1,147,698,199 |
Consolidated Statements of Oper
Consolidated Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Operating Expenses | ||||
General and administration | $ 8,803,221 | $ 105,116 | $ 9,001,974 | $ 1,924,539 |
Selling and marketing | 1,413 | 18,563 | 29,381 | |
Operating loss | (8,803,221) | (106,529) | (9,020,537) | (1,953,920) |
Interest and financing costs | (28,051) | (28,052) | (83,544) | (83,240) |
Foreign exchange (loss) gain | (79,171) | 39,621 | 86,935 | (92,476) |
Net Income (Loss) | $ (8,910,443) | $ (94,960) | $ (9,017,146) | $ (2,129,636) |
Basic and diluted net loss per share | $ (0.01) | $ 0 | $ (0.01) | $ 0 |
Weighted average shares used in calculating basic and diluted net loss per share | 1,147,698,199 | 1,147,698,199 | 1,147,698,199 | 1,147,698,199 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Stockholders' Deficiency Equity (Unaudited) - USD ($) | Preferred Stock | Common Stock | Additional Paid-In Capital | Assignment Of Liabilities | Deficit Accumulated During the Development Stage | Total |
Beginning balance at Dec. 31, 2019 | $ 950 | $ 11,478 | $ 41,920,116 | $ (3,462,554) | $ (45,293,649) | $ (6,823,659) |
Beginning balance, Shares at Dec. 31, 2019 | 95,000,000 | 1,147,698,199 | ||||
Cash settlement of liabilities | 7,443 | 7,443 | ||||
Net Loss | 161,215 | 161,215 | ||||
Ending balance at Mar. 31, 2020 | $ 950 | $ 11,478 | 41,920,116 | (3,455,111) | (45,132,434) | (6,655,001) |
Ending balance, Shares at Mar. 31, 2020 | 95,000,000 | 1,147,698,199 | ||||
Beginning balance at Dec. 31, 2019 | $ 950 | $ 11,478 | 41,920,116 | (3,462,554) | (45,293,649) | (6,823,659) |
Beginning balance, Shares at Dec. 31, 2019 | 95,000,000 | 1,147,698,199 | ||||
Net Loss | (9,017,146) | |||||
Ending balance at Sep. 30, 2020 | $ 950 | $ 11,478 | 41,920,116 | (3,455,111) | (54,310,795) | (15,833,362) |
Ending balance, Shares at Sep. 30, 2020 | 95,000,000 | 1,147,698,199 | ||||
Beginning balance at Mar. 31, 2020 | $ 950 | $ 11,478 | 41,920,116 | (3,455,111) | (45,132,434) | (6,655,001) |
Beginning balance, Shares at Mar. 31, 2020 | 95,000,000 | 1,147,698,199 | ||||
Net Loss | (267,918) | (267,918) | ||||
Ending balance at Jun. 30, 2020 | $ 950 | $ 11,478 | 41,920,116 | (3,455,111) | (45,400,352) | (6,922,919) |
Ending balance, Shares at Jun. 30, 2020 | 95,000,000 | 1,147,698,199 | ||||
Net Loss | (8,910,443) | (8,910,443) | ||||
Ending balance at Sep. 30, 2020 | $ 950 | $ 11,478 | $ 41,920,116 | $ (3,455,111) | $ (54,310,795) | $ (15,833,362) |
Ending balance, Shares at Sep. 30, 2020 | 95,000,000 | 1,147,698,199 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 9 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net Loss | $ (9,017,146) | $ (2,129,636) |
Adjustment to reconcile net loss to cash used in operating activities: | ||
Stock based compensation | 8,701,110 | 1,574,480 |
Interest and penalties | 83,544 | 83,240 |
Unrealized foreign exchange loss (gain) | (88,174) | 92,576 |
Changes in operating assets and liabilities: | ||
Increase (decrease) in accounts payable and accrued liabilities | 316,561 | 352,171 |
NET CASH USED IN OPERATING ACTIVITIES | (4,105) | (27,169) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Proceeds from short term loans payable | 4,105 | 27,169 |
NET CASH PROVIDED BY FINANCING ACTIVITIES | 4,105 | 27,169 |
Effect of exchange rate changes on cash | ||
NET (DECREASE) INCREASE IN CASH | ||
CASH - BEGINNING OF PERIOD | ||
CASH - END OF PERIOD | ||
SUPPLEMENTAL CASH FLOW INFORMATION | ||
Income tax paid | ||
Interest paid | ||
SUPPLEMENTAL SCHEDULE OF NON-CASH INVESTING AND FINANCING ACTIVITIES | ||
Settlement of accounts payable by FE Pharmacy, Inc. | $ 7,443 | $ 80,727 |
BUSINESS AND GOING CONCERN
BUSINESS AND GOING CONCERN | 9 Months Ended |
Sep. 30, 2020 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
BUSINESS AND GOING CONCERN | NOTE 1 – BUSINESS AND GOING CONCERN Organization Kallo Inc. (“Kallo” or the “Company”) develops customized health care solutions designed to improve or enhance the delivery of care in the countries and regions we serve. Going Concern The accompanying unaudited consolidated financial statements have been prepared assuming that 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. The amounts of assets and liabilities in the consolidated financial statements do not purport to represent realizable or settlement values. The Company has incurred operating losses since inception and has an accumulated deficit and a working capital deficit at September 30, 2020. The Company is expected to incur additional losses as it executes its go to market strategy. This raises substantial doubt about the Company’s ability to continue as a going concern. The Company has met its historical working capital requirements from the sale of common shares and short term loans. In order to not burden the Company, the officer/stockholder has agreed to provide funding to the Company to pay its annual audit fees, filing costs and legal fees as long as the board of directors deems it necessary. However, there can be no assurance that such financial support shall be ongoing or available on terms or conditions acceptable to the Company. These consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty. |
ACCOUNTING POLICIES AND OPERATI
ACCOUNTING POLICIES AND OPERATIONS | 9 Months Ended |
Sep. 30, 2020 | |
Accounting Policies [Abstract] | |
ACCOUNTING POLICIES AND OPERATIONS | NOTE 2 – ACCOUNTING POLICIES AND OPERATIONS Basis of Presentation The accompanying unaudited consolidated financial statements of the Company have been prepared in conformity with accounting principles generally accepted in the United States of America for interim financial information and with the instructions to Form 10-Q and Article 8-03 of Regulation S-X related to smaller reporting companies. These unaudited consolidated financial statements should be read in conjunction with the annual audited consolidated financial statements and notes, which are included as part of the Company’s Form 10-K filed with the SEC for the year ended December 31, 2019. Operating results for the periods presented are not necessarily indicative of the results that may be expected for the full year. Notes to the financial statements which substantially duplicate the disclosure contained in the audited consolidated financial statements for fiscal year ended December 31, 2019 as reported in the 10-K have been omitted. In the opinion of management, all adjustments, consisting only of normal recurring adjustments, considered necessary for a fair presentation, have been included in the accompanying unaudited consolidated financial statements. Recently Adopted Accounting Pronouncements In June 2016, the FASB issued ASU 2016-13, “ Financial Instruments - Credit Losses Revenue from Contracts with Customers Recently Issued Accounting Pronouncements On December 18, 2019 the FASB issued the ASU 2019-12 “Income taxes (Topic 740)—Simplifying the accounting for income taxes”. The amendments in this update simplify the accounting for income taxes by removing certain exceptions to the general principles and also improve consistent application by clarifying and amending existing guidance, such as franchise taxes and interim recognition of enactment of tax laws or rate changes. The amendments in this update are effective for fiscal years beginning after December 15, 2020, and interim periods within those fiscal years. The Company is assessing the effects that the adoption of this accounting pronouncement may have on its financial statements. |
COMMON STOCK
COMMON STOCK | 9 Months Ended |
Sep. 30, 2020 | |
Stockholders' Equity Note [Abstract] | |
COMMON STOCK | NOTE 3 – COMMON STOCK During the nine months ended September 30, 2020, there were no movements in share capital issued and outstanding. On April 8, 2017, the Company entered into an agreement with FE Pharmacy Inc., a company controlled by a shareholder of Kallo, and a related party, whereby in consideration for the issuance of 475,000,000 common stock of Kallo, FE Pharmacy Inc. assumed and will pay all of the Company’s outstanding indebtedness as at April 7, 2017. The 475,000,000 shares issuable to FE Pharmacy Inc. has been valued at the book value of the total liabilities assigned to FE Pharmacy Inc. of $4,135,037. The assignment of the liabilities to FE Pharmacy Inc. has been recorded as a receivable in the equity section of the consolidated balance sheet and will be reduced as the liabilities are settled by FE Pharmacy Inc. During the nine months ended September 30, 2020, the assignment of liabilities amount has been reduced by $7,443 cash settlement of accounts payable. |
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS | 9 Months Ended |
Sep. 30, 2020 | |
Related Party Transactions [Abstract] | |
RELATED PARTY TRANSACTIONS | NOTE 4 – RELATED PARTY TRANSACTIONS During the quarter ended September 30, 2020, the Board of Directors approved the issuance of 1,089,000,000 shares to directors and shareholders of the Company for par value of $10,890, resulting in stock-based compensation valued at $8,701,110. These shares will be issued after the Company is able to increase its authorized number of common shares. During 2019, the Board of Directors approved the issuance of 57,000,000 shares to directors and shareholders of the Company for par value of $570, resulting in as stock-based compensation valued at $1,373,130. These shares will be issued after the Company is able to increase its authorized number of common shares. During the year ended December 31, 2019, the Company designated 5,000,000 of is preferred stock as Series B preferred stock, each of which has 1,000 votes and are not convertible. The Company, will not, without the approval or express written consent of the all the holders of the Series B preferred stock (i) establish, create, authorize or approve the issuance of any series or class of preferred stock (ii) change any of the rights, privileges or preferences of the Series B preferred stock or (iii) redeem the Series B preferred stock.. During the year ended December 31, 2019, the Board of Directors approved the issuance of 5,000,000 Series B preferred shares to a director as compensation for services rendered and their fair value were deemed to be $201,350 based on the voting rights of the preferred shares relative to the fair value of the Company at the date of the approved issuance. These shares will be issued after the Company becomes current on all its filings requirements. Included in liability for issuable shares is 3,731,005 common shares valued at $149,240 and approved for issuance to a family of the controlling shareholder of FE Pharmacy Inc as compensation during 2018 which will be issued after the Company is able to increase its authorized number of common shares. The transfer agent has erroneously issued these shares in spite of the Company’s instructions to wait for the increase in authorized number of common shares. Included in accounts payable and accrued liabilities is an amount of $1,535,834 (December 31, 2019 - $1,332,488) due to directors of the Company as of September 30, 2020. Included in convertible loans payable to related parties is an amount of $972,023 (December 31, 2019 - $907,132), including accrued interest, owing to a director and a shareholder of the Company as of September 30, 2020. Included in short term loans payable is an amount of $52,673 (December 31, 2019 - $49,758) due to the controlling shareholder of FE Pharmacy Inc. and a related party as at September 30, 2020. |
CONVERTIBLE LOANS PAYABLE
CONVERTIBLE LOANS PAYABLE | 9 Months Ended |
Sep. 30, 2020 | |
Debt Disclosure [Abstract] | |
CONVERTIBLE LOANS PAYABLE | NOTE 5 – CONVERTIBLE LOANS PAYABLE September 30, 2020 December 31, 2019 Convertible promissory notes bearing interest at 15% per annum – third parties $ 283,870 $ 265,217 Convertible promissory notes bearing interest at 15% per annum – related parties 972,023 907,132 $ 1,255,893 $ 1,172,349 The Convertible loans payable bear 15% interest per annum and are convertible at a fixed price at any time during their 1 year term. The Company has the option to pay the note at any time. The Company analyzed the conversion option for derivative accounting consideration under ASC Topic 815-40, Derivatives and Hedging – Contract in Entity’s Own Stock and concluded that the embedded conversion was a derivative but the fair value of the feature was zero. The total outstanding notes is $1,255,893, including accrued interest, of which $972,023 is to from related parties. Interest of $83,544 on the convertible loans payable are included in net finance charge for the nine months ended September 30, 2020 included in the consolidated statement of operations. All of the above convertible loans payable were in default as of September 30, 2020. |
SHORT TERM LOANS PAYABLE
SHORT TERM LOANS PAYABLE | 9 Months Ended |
Sep. 30, 2020 | |
Short-term Debt, Other Disclosures [Abstract] | |
SHORT TERM LOANS PAYABLE | NOTE 6 – SHORT TERM LOANS PAYABLE September 30, 2020 December 31, 2019 Non-interest bearing short term funding from third party $ 16,323 $ 16,763 Non-interest bearing short term funding from related party 52,673 49,758 $ 68,996 $ 66,521 As of September 30, 2020, the balance of $68,996 represented short term funding provided by a third party and a related party which are non-interest bearing, unsecured and have no fixed repayment date. The loan from third party in Canadian dollars is $21,772 which is subject to revaluation at the end of each quarter. |
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 9 Months Ended |
Sep. 30, 2020 | |
Commitments and Contingencies Disclosure [Abstract] | |
COMMITMENTS AND CONTINGENCIES | NOTE 7 – COMMITMENTS AND CONTINGENCIES Contingencies On April 21, 2017, an ex-employee of Kallo obtained a judgement ordering Kallo to pay Canadian $ 135,959 for unpaid wages and expenses relating to services performed in 2016. The full amount has been accrued for in the financial statements of Kallo. On October 24, 2016, a consultant obtained a judgement ordering Kallo to pay Canadian $34,924 for unpaid fees. The full amount has been accrued for in the financial statements of Kallo. On October 6, 2017, Thornley Fallis Communications Inc. (“Thornley”) commenced a third party claim against Kallo concerning monies that Kallo allegedly owed to Thornley for redesign of a website and public relation services. Thornley is seeking damages in the amount of Canadian $169,345 plus interest on the amounts outstanding and indemnification of the costs of the action. An amount of Canadian $134,960 has been accrued for in the financial statements of Kallo. There is also a claim by Commercial Credit Adjusters on behalf of Northwest Company for payment of Canadian $34,000. An amount of Canadian $24,016 has been accrued for in the financial statements of Kallo. Negotiations are in process for the settlement of this debt for a lump sum. Canada Revenue Agency has assessed the Company for unpaid Canadian $77,664 as at September 30, 2020 representing unremitted employee source deductions and related penalties and interest, the full amount of which has been accrued in the financial statements of Kallo. Responsibility for payments of the above claims has been assumed by FE Pharmacy Inc.under the terms of the agreement mentioned in Note 3. Agreement On June 26, 2020, the Company finalized contracts with the Republic of Kenya (“Kenya”) and Techno-Investment Module Limited (“TIM”) for a Project Contract and a Finance Contract. Under the terms of the Agreement, Kenya is seeking to borrow the sum of 1,068,932,543 Euros from TIM and the funds are to be used primarily to build to be undertaken by Kallo Inc. |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 9 Months Ended |
Sep. 30, 2020 | |
Subsequent Events | |
SUBSEQUENT EVENTS | NOTE 8 – SUBSEQUENT EVENTS On December 11, 2020, the Company finalized contracts with the Ministry of Health and the Ministry of Finance of the State of Eritrea (the “Ministry”) and Techno-Investment Module Limited (“TIM”) for National Healthcare Projects and Loan Agreement/Contract. Under the terms of the Agreement, the Ministry is seeking to borrow the sum of 521,437,477 Euros from TIM and the funds are to be used primarily to fund certain healthcare projects to be undertaken by Kallo Inc. TIM is to provide 521,437,477 Euros in four equal instalments. After receiving its share of the instalments payment, Kallo Inc. will deliver 25,000,000 Euros of each payment to the Ministry’s National Food Security Program. On December 10, 2020, the Company finalized contracts with the Ministry of Health and the Ministry of Finance of the Republic of Mozambique (“Mozambique”) and Techno-Investment Module Limited (“TIM”) for National Healthcare Projects and Loan Agreement/Contract. Under the terms of the Agreement, Mozambique is seeking to borrow the sum of 1,305,256,575 Euros from TIM and the funds are to be used primarily to fund certain healthcare projects to be undertaken by Kallo Inc. TIM is to provide 1,305,256,575 Euros in four equal instalments. After receiving its share of the instalments payment, Kallo Inc. will then deliver 125,000,000 Euros of each payment to the Ministry’s National Food Security Program. On November 30, 2020, the Company finalized with the Ministry of Health and the Ministry of Finance of the Federal Democratic Republic of Ethiopia (the “Borrower”) and Techno-Investment Module Limited (“TIM”) for National Healthcare Projects and Loan Agreement/Contract. Under the terms of the Agreement, the Borrower is seeking to borrow the sum of 2,459,817,336 Euros from TIM and the funds are to be used primarily to fund certain healthcare projects to be undertaken by Kallo Inc. TIM is to provide 2,459,817,336 Euros in four equal instalments to the Borrower, of which 1,860,437,075 Euros is to be used in connection with the National Healthcare Infrastructure program. After receiving its share of the instalments payment, Kallo Inc. will then deliver 125,000,000 Euros of each instalment payment received to the Borrower’s National Food Security Program. On November 10, 2020, the Company finalized contracts with the Ministry of Health and the Ministry of Finance of the Kingdom of Eswatini (“Eswatini”) and Techno-Investment Module Limited (“TIM”) for National Healthcare Projects and Loan Agreement/Contract. Under the terms of the Agreement, Eswatini is seeking to borrow the sum of 549,978,787 Euros from TIM and the funds are to be used primarily to fund certain healthcare projects to be undertaken by Kallo Inc. TIM is to provide 549,978,787 Euros in four equal instalments to Kallo Inc and the Company will deliver 75,000,000 Euros of each payment to Eswatini’s National Food Security Program. |
ACCOUNTING POLICIES AND OPERA_2
ACCOUNTING POLICIES AND OPERATIONS (Policies) | 9 Months Ended |
Sep. 30, 2020 | |
Accounting Policies And Operations | |
Basis of Presentation | Basis of Presentation The accompanying unaudited consolidated financial statements of the Company have been prepared in conformity with accounting principles generally accepted in the United States of America for interim financial information and with the instructions to Form 10-Q and Article 8-03 of Regulation S-X related to smaller reporting companies. These unaudited consolidated financial statements should be read in conjunction with the annual audited consolidated financial statements and notes, which are included as part of the Company’s Form 10-K filed with the SEC for the year ended December 31, 2019. Operating results for the periods presented are not necessarily indicative of the results that may be expected for the full year. Notes to the financial statements which substantially duplicate the disclosure contained in the audited consolidated financial statements for fiscal year ended December 31, 2019 as reported in the 10-K have been omitted. In the opinion of management, all adjustments, consisting only of normal recurring adjustments, considered necessary for a fair presentation, have been included in the accompanying unaudited consolidated financial statements. |
Recently Adopted Accounting Pronouncements | Recently Adopted Accounting Pronouncements In June 2016, the FASB issued ASU 2016-13, “ Financial Instruments - Credit Losses Revenue from Contracts with Customers Recently Issued Accounting Pronouncements On December 18, 2019 the FASB issued the ASU 2019-12 “Income taxes (Topic 740)—Simplifying the accounting for income taxes”. The amendments in this update simplify the accounting for income taxes by removing certain exceptions to the general principles and also improve consistent application by clarifying and amending existing guidance, such as franchise taxes and interim recognition of enactment of tax laws or rate changes. The amendments in this update are effective for fiscal years beginning after December 15, 2020, and interim periods within those fiscal years. The Company is assessing the effects that the adoption of this accounting pronouncement may have on its financial statements. |
CONVERTIBLE LOANS PAYABLE (Tabl
CONVERTIBLE LOANS PAYABLE (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Debt Disclosure [Abstract] | |
Summary of convertible loans payable | September 30, 2020 December 31, 2019 Convertible promissory notes bearing interest at 15% per annum – third parties $ 283,870 $ 265,217 Convertible promissory notes bearing interest at 15% per annum – related parties 972,023 907,132 $ 1,255,893 $ 1,172,349 |
SHORT TERM LOANS PAYABLE (Table
SHORT TERM LOANS PAYABLE (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Short-term Debt, Other Disclosures [Abstract] | |
Summary of short term loans payable | September 30, 2020 December 31, 2019 Non-interest bearing short term funding from third party $ 16,323 $ 16,763 Non-interest bearing short term funding from related party 52,673 49,758 $ 68,996 $ 66,521 |
RELATED PARTY TRANSACTIONS (Det
RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2020 | Dec. 31, 2019 | |
Related Party Transactions | ||
Shares issued to directors and employees | $ 1,089,000,000 | $ 1,373,130 |
Shares issued to directors and employees, Shares | 8,701,110 | 57,000,000 |
CONVERTIBLE LOANS PAYABLE (Deta
CONVERTIBLE LOANS PAYABLE (Details) - USD ($) | Sep. 30, 2020 | Dec. 31, 2019 |
Convertible loans payable | $ 1,255,893 | $ 1,172,349 |
Convertible promissory notes bearing interest at 15% per annum - third party | ||
Convertible loans payable | 283,870 | 265,217 |
Convertible promissory notes bearing interest at 15% per annum - related parties | ||
Convertible loans payable | $ 972,023 | $ 907,132 |
CONVERTIBLE LOANS PAYABLE (De_2
CONVERTIBLE LOANS PAYABLE (Details Narrative) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | Dec. 31, 2019 | |
Debt Disclosure [Abstract] | |||||
Convertible loans payable | $ 1,255,893 | $ 1,255,893 | $ 1,172,349 | ||
Interest and Financing Cost | $ 28,051 | $ 28,052 | $ 83,544 | $ 83,240 |
SHORT TERM LOANS PAYABLE (Detai
SHORT TERM LOANS PAYABLE (Details) - USD ($) | Sep. 30, 2020 | Dec. 31, 2019 |
Short term loans payable | $ 68,996 | $ 66,521 |
Non-interest bearing short term funding from third parties | ||
Short term loans payable | 16,323 | 16,763 |
Non-interest bearing short term funding from related parties | ||
Short term loans payable | $ 52,673 | $ 49,758 |
SHORT TERM LOANS PAYABLE (Det_2
SHORT TERM LOANS PAYABLE (Details Narrative) - USD ($) | Sep. 30, 2020 | Dec. 31, 2019 |
Short-term Debt, Other Disclosures [Abstract] | ||
Short term loans payable | $ 68,996 | $ 66,521 |