Cover
Cover - shares | 6 Months Ended | |
Jun. 30, 2021 | Aug. 09, 2021 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Document Period End Date | Jun. 30, 2021 | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2021 | |
Current Fiscal Year End Date | --12-31 | |
Entity File Number | 000-52898 | |
Entity Registrant Name | SUNSHINE BIOPHARMA, INC. | |
Entity Central Index Key | 0001402328 | |
Entity Tax Identification Number | 20-5566275 | |
Entity Incorporation, State or Country Code | CO | |
Entity Address, Address Line One | 6500 Trans-Canada Highway | |
Entity Address, Address Line Two | 4th Floor | |
Entity Address, Address Line Three | Pointe-Claire | |
Entity Address, City or Town | Quebec | |
Entity Address, State or Province | CO | |
Entity Address, Country | CA | |
Entity Address, Postal Zip Code | H9R 0A5 | |
City Area Code | (514) | |
Local Phone Number | 426-6161 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | true | |
Elected Not To Use the Extended Transition Period | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 510,093,265 |
Unaudited Consolidated Balance
Unaudited Consolidated Balance Sheets - USD ($) | Jun. 30, 2021 | Dec. 31, 2020 |
Current Assets: | ||
Cash and cash equivalents | $ 1,735,094 | $ 989,888 |
Accounts receivable | 0 | 1,916 |
Inventory | 45,217 | 23,771 |
Prepaid expenses | 15,685 | 2,778 |
Deposits | 7,590 | 7,590 |
Total Current Assets | 1,803,586 | 1,025,943 |
Other Assets: | ||
Equipment (net of $57,924 and $51,485 depreciation, respectively) | 13,482 | 19,531 |
Patents (net of $58,918 amortization and $556,120 impairment) | 0 | 0 |
Total Other Assets | 13,482 | 19,531 |
TOTAL ASSETS | 1,817,068 | 1,045,474 |
Current Liabilities: | ||
Notes payable | 330,000 | 820,454 |
Notes payable - related party | 143,661 | 143,661 |
Accounts payable & accrued expenses | 103,190 | 62,870 |
Interest payable | 58,712 | 24,320 |
Total Current Liabilities | 635,563 | 1,051,305 |
Long-Term Liabilities: | ||
Long-term portion of notes payable | 2,054,215 | 949,006 |
Total Long-Term Liabilities | 2,054,215 | 949,006 |
TOTAL LIABILITIES | 2,689,778 | 2,000,311 |
COMMITMENTS AND CONTINGENCIES | ||
SHAREHOLDERS' DEFICIT | ||
Preferred Stock, Series B $0.10 par value per share; Authorized 1,000,000 shares; Issued and outstanding 1,000,000 shares | 100,000 | 100,000 |
Common Stock, $0.001 par value per share; Authorized 3,000,000,000 Shares; Issued and outstanding 486,093,265 and 346,419,296 March 31, 2021 and December 31, 2020, respectively | 486,092 | 346,418 |
Capital paid in excess of par value | 27,835,741 | 18,820,343 |
Accumulated comprehensive income | (11,636) | (2,871) |
Accumulated (Deficit) | (29,282,907) | (20,218,727) |
TOTAL SHAREHOLDERS' DEFICIT | (872,710) | (954,837) |
TOTAL LIABILITIES AND SHAREHOLDERS' DEFICIT | $ 1,817,068 | $ 1,045,474 |
Unaudited Consolidated Balanc_2
Unaudited Consolidated Balance Sheets (Parenthetical) - USD ($) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2021 | Dec. 31, 2020 | |
Statement of Financial Position [Abstract] | ||
Equipment depreciation | $ 57,924 | $ 51,485 |
Patent amortization | 58,918 | 58,918 |
Patent impairment | $ 556,120 | $ 556,120 |
Series B preferred stock, par value | $ 0.10 | $ 0.10 |
Series B preferred stock, shares authorized | 1,000,000 | 1,000,000 |
Series B preferred stock, shares issued | 1,000,000 | 1,000,000 |
Series B preferred stock, shares outstanding | 1,000,000 | 1,000,000 |
Common stock, par value | $ 0.001 | $ 0.001 |
Common stock, shares authorized | 3,000,000,000 | 3,000,000,000 |
Common stock, shares issued | 486,093,265 | 346,419,296 |
Common stock, shares outstanding | 486,093,265 | 346,419,296 |
Unaudited Consolidated Statemen
Unaudited Consolidated Statements of Operations and Comprehensive Loss - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Income Statement [Abstract] | ||||
Sales | $ 52,874 | $ 15,145 | $ 92,932 | $ 26,247 |
Cost of sales | 18,515 | 5,161 | 37,035 | 9,044 |
Gross Profit | 34,359 | 9,984 | 55,897 | 17,203 |
General & Administrative Expenses: | ||||
Accounting | 19,800 | 37,200 | 61,200 | 37,200 |
Consulting | 21,677 | 2,184 | 32,570 | 3,908 |
Legal | 95,034 | 20,351 | 102,151 | 44,075 |
Office | 61,117 | 23,327 | 100,803 | 35,456 |
Officer & director remuneration | 22,000 | 52,000 | 1,043,927 | 55,830 |
Patent fees | 8,377 | 0 | 14,570 | 0 |
R&D | 191,760 | 0 | 358,546 | 0 |
Depreciation | 3,192 | 3,491 | 6,374 | 7,002 |
Total General & Administrative Expenses | 422,957 | 138,553 | 1,720,141 | 183,471 |
Loss from Operations | (388,598) | (128,569) | (1,664,244) | (166,268) |
Other Income (Expenses): | ||||
Foreign exchange (loss) | 8 | (2,894) | (6) | 8,002 |
Interest expense | (195,630) | (24,219) | (245,341) | (40,575) |
Miscellaneous income | 0 | 3,000 | 0 | 3,000 |
Interest income | 2 | 0 | 2 | 0 |
Debt release | 221 | 1,259 | 51,252 | 1,552 |
Loss on debt conversions | (2,295,057) | (756,021) | (7,205,843) | (807,414) |
Total Other Income (Expenses) | (2,490,456) | (778,875) | (7,399,936) | (835,435) |
Net (loss) before income taxes | (2,879,054) | (907,444) | (9,064,180) | (1,001,703) |
Provision for income taxes | 0 | 0 | 0 | 0 |
Net Loss | (2,879,054) | (907,444) | (9,064,180) | (1,001,703) |
Comprehensive Income (Loss): | ||||
Unrealized income (loss) from foreign exchange translation | (6,702) | 476 | (8,765) | (865) |
Comprehensive (Loss) | $ (2,885,756) | $ (906,968) | $ (9,072,945) | $ (1,002,568) |
Basic Loss per Common Share | $ (0.01) | $ (0.01) | $ (0.02) | $ (0.01) |
Weighted Average Common Shares Outstanding | 478,520,336 | 153,069,298 | 458,767,179 | 101,111,514 |
Unaudited Consolidated Statem_2
Unaudited Consolidated Statements of Cash Flows - USD ($) | 6 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | |
Cash Flows From Operating Activities: | ||
Net Loss | $ (9,064,180) | $ (1,001,703) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Depreciation and amortization | 6,374 | 7,002 |
Foreign exchange (gain) loss | (6) | (8,002) |
Stock issued for services | 918,000 | 50,000 |
Stock issued for payment interest | 38,422 | 32,766 |
Loss on debt conversion | 7,205,843 | 807,414 |
Debt & interest release | (51,252) | (1,552) |
(Increase) decrease in accounts receivable | 1,916 | 430 |
(Increase) decrease in inventory | (27,736) | (666) |
(Increase) in prepaid expenses | (12,907) | (1,151) |
Increase (decrease) in Accounts Payable & accrued expenses | 35,524 | (3,594) |
Increase (decrease) in interest payable | 33,795 | 6,006 |
Net Cash Flows Used in Operating Activities | (916,207) | (113,050) |
Cash Flows From Financing Activities: | ||
Proceeds from notes payable | 1,918,500 | 155,007 |
Note payable to pay fees | 61,500 | 4,000 |
Payments of notes payable | (327,352) | 0 |
Net Cash Flows Provided by Financing Activities | 1,652,648 | 159,007 |
Cash and Cash Equivalents at Beginning of Period | 989,888 | 40,501 |
Net Increase In Cash and cash equivalents | 736,441 | 45,957 |
Foreign currency translation adjustment | 8,765 | (865) |
Cash and Cash Equivalents at End of Period | 1,735,094 | 85,593 |
Supplementary Disclosure of Cash Flow Information: | ||
Stock issued for note conversions including interest | 8,237,072 | 807,909 |
Cash paid for interest | 142,152 | 0 |
Cash paid for income taxes | $ 0 | $ 0 |
Unaudited Consolidated Statem_3
Unaudited Consolidated Statement of Shareholders' Equity - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | Preferred Stock [Member] | Comprehensive Income [Member] | Retained Earnings [Member] | Total |
Beginning balance, value at Dec. 31, 2019 | $ 35,320 | $ 16,616,426 | $ 50,000 | $ (2,495) | $ (17,434,636) | $ (735,385) |
Begining balance, shares at Dec. 31, 2019 | 35,319,990 | 500,000 | ||||
Net Loss | (865) | (1,001,703) | (1,002,568) | |||
Ending balance, value at Jun. 30, 2020 | $ 269,820 | 17,542,616 | $ 100,000 | (3,360) | (18,436,339) | (527,263) |
Ending balance, shares at Jun. 30, 2020 | 269,821,248 | 1,000,000 | ||||
Common stock issued for the reduction of note payable and payment of interest | $ 234,500 | 926,190 | 1,160,690 | |||
Common stock issued for the reduction of notes payable and payment of interest, shares | 234,501,258 | |||||
Preferred stock issued for services | $ 50,000 | 50,000 | ||||
Preferred stock issued for services, Shares | 500,000 | |||||
Beginning balance, value at Mar. 31, 2020 | $ 59,675 | 16,714,450 | $ 50,000 | (3,836) | (17,528,895) | (708,606) |
Begining balance, shares at Mar. 31, 2020 | 59,675,417 | 500,000 | ||||
Net Loss | 476 | (907,444) | (906,968) | |||
Ending balance, value at Jun. 30, 2020 | $ 269,820 | 17,542,616 | $ 100,000 | (3,360) | (18,436,339) | (527,263) |
Ending balance, shares at Jun. 30, 2020 | 269,821,248 | 1,000,000 | ||||
Common stock issued for the reduction of note payable and payment of interest | $ 210,145 | 828,166 | 1,038,311 | |||
Common stock issued for the reduction of notes payable and payment of interest, shares | 210,145,831 | |||||
Preferred stock issued for services | $ 50,000 | 50,000 | ||||
Preferred stock issued for services, Shares | 500,000 | |||||
Beginning balance, value at Dec. 31, 2020 | $ 346,418 | 18,820,343 | $ 100,000 | (2,871) | (20,218,727) | (954,837) |
Begining balance, shares at Dec. 31, 2020 | 346,419,296 | 1,000,000 | ||||
Net Loss | (8,765) | (9,064,180) | (9,072,945) | |||
Ending balance, value at Jun. 30, 2021 | $ 486,092 | 27,835,741 | $ 100,000 | (11,636) | (29,282,907) | (872,710) |
Ending balance, shares at Jun. 30, 2021 | 486,093,265 | 1,000,000 | ||||
Common stock issued for the reduction of note payable and payment of interest | $ 79,674 | 8,157,398 | 8,237,072 | |||
Common stock issued for the reduction of notes payable and payment of interest, shares | 79,673,969 | |||||
Common stock issued for services | $ 60,000 | 858,000 | 918,000 | |||
Common stock issued for services, shares | 60,000,000 | |||||
Beginning balance, value at Mar. 31, 2021 | $ 465,005 | 24,759,393 | $ 100,000 | (4,934) | (26,403,853) | (1,084,389) |
Begining balance, shares at Mar. 31, 2021 | 465,005,925 | 1,000,000 | ||||
Common stock issued for the reduction of notes payable and payment of interest | $ 21,087 | 3,076,348 | 3,097,435 | |||
Common stock issued for the reduction of notes payable and payment of interest, shares | 21,087,340 | |||||
Net Loss | (6,702) | (2,879,054) | (2,885,756) | |||
Ending balance, value at Jun. 30, 2021 | $ 486,092 | $ 27,835,741 | $ 100,000 | $ (11,636) | $ (29,282,907) | $ (872,710) |
Ending balance, shares at Jun. 30, 2021 | 486,093,265 | 1,000,000 |
Nature of Business and Basis of
Nature of Business and Basis of Presentation | 6 Months Ended |
Jun. 30, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Nature of Business and Basis of Presentation | Note 1 – Nature of Business and Basis of Presentation Sunshine Biopharma, Inc. (the "Company") was originally incorporated under the name Mountain West Business Solutions, Inc. on August 31, 2006, in the State of Colorado. Until October 2009, the Company was operating as a business consultancy firm. Effective October 15, 2009, the Company acquired Sunshine Biopharma, Inc. in a transaction classified as a reverse acquisition. Sunshine Biopharma, Inc. was holding an exclusive license to a new anticancer drug bearing the laboratory name, Adva-27a (the “License Agreement”). Upon completion of the reverse acquisition transaction, the Company changed its name to Sunshine Biopharma, Inc. and began operating as a pharmaceutical company focusing on the development of the licensed Adva-27a anticancer drug. In October 2012, the Company published the results of its initial preclinical studies of Adva-27a in the peer-reviewed journal, ANTICANCER RESEARCH. The studies were conducted in collaboration with Binghamton University, a State University of New York, and Ecole Polytechnique, Universite de Montreal. The publication is entitled “Adva-27a, a Novel Podophyllotoxin Derivative Found to Be Effective Against Multidrug Resistant Human Cancer Cells” [ANTICANCER RESEARCH Volume 32, Pages 4423-4432 (2012)]. In July 2014, the Company formed a wholly owned Canadian subsidiary, Sunshine Biopharma Canada Inc. (“Sunshine Canada”) for the purposes of offering generic pharmaceutical products in Canada and elsewhere around the world. Sunshine Canada has recently transitioned its focus to the development and marketing of Science-Based Nutritional Supplements. In December 2015, the Company acquired all worldwide issued (US Patent Number 8,236,935, and 10,272,065) and pending patents under PCT/FR2007/000697 and PCT/CA2014/000029 for the Adva-27a anticancer compound from Advanomics Corporation, a related party, and terminated the License Agreement. In 2016, the remaining value of these patents was impaired. The Company is however continuing development of the Adva-27a anticancer drug covered by these patents. In March 2018, the Company formed NOX Pharmaceuticals, Inc., a wholly owned Colorado corporation and assigned all of the Company’s interest in the Adva-27a anticancer drug to that company. NOX Pharmaceuticals Inc.’s mission is to research, develop and commercialize proprietary drugs including Adva-27a. In December 2018, the Company launched its first Science-Based Nutritional Supplements product, Essential 9 ™ ™ Effective February 1, 2019, the Company completed a 20 to 1 reverse split of its Common Stock, reducing the issued and outstanding shares of Common Stock from 1,713,046,242 to 85,652,400 (the “First Reverse Stock Split”). Effective April 6, 2020, the Company completed another 20 to 1 reverse split of its Common Stock, reducing the issued and outstanding shares of Common Stock from 1,193,501,925 to 59,675,417 (the “Second Reverse Stock Split”). On May 22, 2020, the Company filed a provisional patent application in the United States for a new treatment for Coronavirus infections. The Company’s patent application covers composition subject matter pertaining to small molecules for inhibition of the main Coronavirus protease, Mpro, an enzyme that is essential for viral replication. The patent application has a priority date of May 22, 2020. On April 30, 2021, the Company filed a PCT application containing new research results and extending coverage to include the Coronavirus Papain-Like protease, PLpro. The priority date of May 22, 2020 has been maintained in the newly filed PCT application. On June 17, 2020, the Company filed an amendment to its Articles of Incorporation (the “Amendment”) with the State of Colorado, to eliminate the Series “A” Preferred Shares consisting of Eight Hundred and Fifty Thousand (850,000) shares, par value $0.10 per share, and the designation thereof, which shares were returned to the status of undesignated shares of Preferred Stock. In addition, the Amendment increased the number of authorized Series “B” Preferred Shares from Five Hundred Thousand (500,000) to One Million (1,000,000) shares. Also on June 17, 2020, the Company issued Five Hundred Thousand (500,000) shares of Series “B” Preferred Stock in favor of Dr. Steve N. Slilaty, the Company’s CEO, in consideration for the COVID-19 treatment technology he developed. The Series “B” Preferred Stock is non-convertible, non-redeemable, non-retractable and has a superior liquidation value of $0.10 per share. Each share of Series “B” Preferred Stock is entitled to 1,000 votes per share. This issuance brought the total number of Series “B” Preferred Stock held by Dr. Slilaty to 1,000,000 shares. On September 8, 2020, the Company executed a financing agreement with RB Capital Partners, Inc., La Jolla, CA, (“RB Capital”) who agreed to provide the Company with a minimum of $2 million in convertible debt financing during the ensuing three to six month period pursuant to the terms and conditions included in relevant Promissory Notes (the “Promissory Notes”). The Promissory Notes bear interest at the rate of 5 2,554,000 Effective October 6, 2020, the Company entered into a Research Agreement (the “Agreement”) with the University of Georgia Research Foundation, Inc. (“UGARF”), representing the University of Georgia (“UGA”). The purpose of the Agreement is to memorialize the terms of the Company working together with UGA to conduct the necessary research and development to advance the Company’s Anti-Coronavirus lead compound, SBFM-PL4 (or derivatives thereof) through various stages of preclinical development, animal studies and clinical trials for Coronavirus infections. The Agreement grants the Company an exclusive worldwide license for all of the intellectual property developed by UGA, whether developed alone or jointly with the Company. On January 26, 2021, the Company received a Notice of Allowances from the Canadian Intellectual Property Office for a new patent application covering Adva-27a. The newly issued patent contains new subject matter and extends the proprietary protection of Adva-27a in Canada until 2033. On February 4, 2021, the Company entered into an exclusive license agreement with the University of Georgia (“UGA”) for two Anti-Coronavirus compounds which UGA had previously developed and patented. The Company and UGA will advance the development of these two compounds in parallel with the Company’s own Anti-Coronavirus compound, SBFM-PL4. On March 9, 2021, the Company received a Notice of Allowance from the European Patent Office for a new patent application covering Adva-27a. The newly issued patent contains new subject matter and extends the proprietary protection of Adva-27a in Europe until 2033. The equivalent patent in the United States was issued in 2019 (US Patent Number 10,272,065). The Company's financial statements reflect both the First and Second Reverse Stock Split on a retroactive basis and represent the consolidated activity of Sunshine Biopharma, Inc. and its subsidiaries (Sunshine Biopharma Canada Inc. and NOX Pharmaceuticals Inc.) herein collectively referred to as the "Company". Impact of Coronavirus (COVID-19) Pandemic In March 2020, the World Health Organization declared Coronavirus and its associated disease, COVID-19, a global pandemic. Conditions surrounding the Coronavirus outbreak have been and are continuing to evolve rapidly. Government authorities in the U.S. and around the world have implemented emergency measures to mitigate the spread of the virus. The outbreak and related mitigation measures have had and will continue to have a material adverse impact on the world economies and the Company's business activities. It is not possible for the Company to predict the duration or magnitude of the adverse conditions of the outbreak and their effects on the Company’s business or ability to raise funds. No adjustments have been made to the amounts reported in the Company's financial statements as a result of this matter. Basis of Presentation of Unaudited Financial Information The unaudited financial statements of the Company for the three and six month periods ended June 30, 2021 and 2020 have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and pursuant to the requirements for reporting on Form 10-Q and Regulation S-X. Accordingly, they do not include all the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements. However, such information reflects all adjustments (consisting solely of normal recurring adjustments), which are, in the opinion of management, necessary for the fair presentation of the financial position and the results of operations. Results shown for interim periods are not necessarily indicative of the results to be obtained for a full fiscal year. The balance sheet information as of December 31, 2020 was derived from the audited financial statements included in the Company's financial statements as of and for the year ended December 31, 2020 included in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on March 30, 2021. These financial statements should be read in conjunction with that report. Recently Issued Accounting Pronouncements In December 2019, the FASB issued ASU 2019-12 “Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes.” This guidance removes certain exceptions to the general principles in Topic 740 and provides consistent application of U.S. GAAP by clarifying and amending existing guidance. The effective date of the new guidance for public companies is for fiscal years beginning after December 15, 2020 and interim periods within those fiscal years. Early adoption is permitted. The Company is currently evaluating the timing of adoption and impact of the updated guidance on its financial statements. In February 2020, the FASB issued ASU 2020-02, Financial Instruments-Credit Losses (Topic 326) and Leases (Topic 842) - Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 119 and Update to SEC Section on Effective Date Related to Accounting Standards Update No. 2016-02, Leases (Topic 842) In August 2020, the FASB issued ASU 2020-06, Debt – Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging – Contracts in Entity’s Own Equity (Subtopic 815 – 40) |
Going Concern and Liquidity
Going Concern and Liquidity | 6 Months Ended |
Jun. 30, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Going Concern and Liquidity | Note 2 – Going Concern and Liquidity As of June 30, 2021 and December 31, 2020, the Company had $ 1,735,094 989,888 2,689,778 2,000,311 The consolidated financial statements included in this Report have been prepared on a going concern basis, which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of business. Based on past experience, the Company believes that it will be able to raise the necessary capital through debt and equity issuances to fund ongoing operating expenses. The consolidated financial statements included in this Report do not include any adjustments that may result from the outcome of any going concern uncertainty. There is no assurance that these events will be satisfactorily completed. Any issuance of convertible debt or equity securities, if accomplished, could cause substantial dilution to existing stockholders. Any failure by the Company to successfully implement these plans would have a material adverse effect on its business, including the possible inability to continue operations. |
Notes Payable
Notes Payable | 6 Months Ended |
Jun. 30, 2021 | |
Debt Disclosure [Abstract] | |
Notes Payable | Note 3 – Notes Payable The Company’s Notes Payable at June 30, 2021 consisted of the following: A Note Payable dated December 31, 2018 having a Face Value of $ 136,744 12 December 31, 2019 30,000 1,500,000 106,744 15,509 122,253 12 December 31, 2020 122,253 14,247 136,500,000 7,884,100 7,747,600 On April 17, 2020, the Company’s Canadian subsidiary received a CEBA Loan (Canada Emergency Business Account Loan) from CIBC (Canadian Imperial Bank of Commerce) in the principal amount of $ 40,000 30,000 20000 On April 27, 2020, the Company received a Paycheck Protection Program loan ("PPP Loan") in the principal amount of $ 50,655 1 2,133 0 On July 7, 2020, the Company received monies in exchange for a Note Payable having a Face Value of $ 48,000 8 July 7, 2021 15,271 63,271 On July 27, 2020, the Company received monies in exchange for a Note Payable having a Face Value of $ 102,000 8 July 27, 2021 102,000 4,171 5,044,456 484,268 378,097 On August 14, 2020, the Company received monies in exchange for a Note Payable having a Face Value of $ 67,000 8 August 14, 2021 67,000 2,680 542,173 119,169 49,489 On September 14, 2020, the Company received monies in exchange for a Note Payable having a Face Value of $250,000 with interest accruing at 5 September 14, 2022 0.30 250,000 8,850 862,833 170,841 88,009 On September 24, 2020, the Company received monies in exchange for a Note Payable having a Face Value of $ 50,000 5 September 24, 2022 0.30 On October 20, 2020, the Company received monies in exchange for a Note Payable having a Face Value of $ 250,000 5 October 20, 2022 0.30 250,000 7,600 858,666 170,016 87,584 On November 19, 2020, the Company received monies in exchange for a Note Payable having a Face Value of $ 250,000 8 August 19, 2021 0 126,881 376,881 On November 24, 2020, the Company received monies in exchange for a Note Payable having a Face Value of $ 260,000 8 November 24, 2021 260,000 10,428 3,865,841 695,078 424,650 On November 25, 2020, the Company received monies in exchange for a Note Payable having a Face Value of $ 250,000 5 November 25, 2022 0.30 On December 2, 2020, the Company received monies in exchange for a Note Payable having a Face Value of $ 104,215 5 December 2, 2022 0.30 On January 12, 2021, the Company received monies in exchange for a Note Payable having a Face Value of $ 150,000 5 January 12, 2023 0.30 On January 27, 2021, the Company received monies in exchange for a Note Payable having a Face Value of $ 300,000 5 January 27, 2023 0.50 On February 12, 2021, the Company received monies in exchange for a Note Payable having a Face Value of $ 700,000 5 February 12, 2023 0.60 On April 5, 2021, the Company received monies in exchange for a Note Payable having a Face Value of $ 330,000 10 January 5, 2022 On April 20, 2021, the Company received monies in exchange for a Note Payable having a Face Value of $ 500,000 5 April 20, 2023 0.30 At June 30, 2021 and December 31, 2020, total accrued interest on Notes Payable was $ 58,712 24,320 |
Notes Payable - Related Party
Notes Payable - Related Party | 6 Months Ended |
Jun. 30, 2021 | |
Notes Payable - Related Party | |
Notes Payable - Related Party | Note 4 – Notes Payable - Related Party Outstanding Notes Payable at June 30, 2021 held by related parties consist of the following: A Note Payable dated December 31, 2019 held by the CEO of the Company having a Face Value of $ 128,269 12 December 31, 2020 15,392 143,661 12 December 31, 2021 |
Shareholders_ Equity
Shareholders’ Equity | 6 Months Ended |
Jun. 30, 2021 | |
Equity [Abstract] | |
Shareholders’ Equity | Note 5 – Shareholders’ Equity During the six months ended June 30, 2021 the Company issued a total of 79,673,969 993,028 38,021 7,205,843 60,000,000 918,000 The Company declared no |
Related Party Transactions
Related Party Transactions | 6 Months Ended |
Jun. 30, 2021 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | Note 6 – Related Party Transactions In addition to the related party transaction detailed in Note 4 above, the Company paid its Officers and Directors cash compensation totaling $ 125,927 55,830 52,000 was |
Subsequent Events
Subsequent Events | 6 Months Ended |
Jun. 30, 2021 | |
Subsequent Events [Abstract] | |
Subsequent Events | Note 7 – Subsequent Events On July 6, 2021, the Company received monies in exchange for a Note Payable having a Face Value of $900,000 with interest accruing at 5% is due July 6, 2023. The Note is convertible after 180 days from issuance into Common Stock at a price equal to $0.30 per share. In connection with this debt financing, the Company agreed to allow the lender, who is also the holder of a Note Payable dated November 25, 2020 (the “November Note”), to convert a total of $240,000 in principal amount of November Note into 24,000,000 shares of Common Stock leaving a principal balance of $10,000 and accrued interest of $7,750. On July 6, 2021, the Company paid off the remaining principal balance of this Note and secured forgiveness of the accrued interest. |
Nature of Business and Basis _2
Nature of Business and Basis of Presentation (Policies) | 6 Months Ended |
Jun. 30, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Impact of Coronavirus (COVID-19) Pandemic | Impact of Coronavirus (COVID-19) Pandemic In March 2020, the World Health Organization declared Coronavirus and its associated disease, COVID-19, a global pandemic. Conditions surrounding the Coronavirus outbreak have been and are continuing to evolve rapidly. Government authorities in the U.S. and around the world have implemented emergency measures to mitigate the spread of the virus. The outbreak and related mitigation measures have had and will continue to have a material adverse impact on the world economies and the Company's business activities. It is not possible for the Company to predict the duration or magnitude of the adverse conditions of the outbreak and their effects on the Company’s business or ability to raise funds. No adjustments have been made to the amounts reported in the Company's financial statements as a result of this matter. |
Basis of Presentation of Unaudited Financial Information | Basis of Presentation of Unaudited Financial Information The unaudited financial statements of the Company for the three and six month periods ended June 30, 2021 and 2020 have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and pursuant to the requirements for reporting on Form 10-Q and Regulation S-X. Accordingly, they do not include all the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements. However, such information reflects all adjustments (consisting solely of normal recurring adjustments), which are, in the opinion of management, necessary for the fair presentation of the financial position and the results of operations. Results shown for interim periods are not necessarily indicative of the results to be obtained for a full fiscal year. The balance sheet information as of December 31, 2020 was derived from the audited financial statements included in the Company's financial statements as of and for the year ended December 31, 2020 included in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on March 30, 2021. These financial statements should be read in conjunction with that report. |
Recently Issued Accounting Pronouncements | Recently Issued Accounting Pronouncements In December 2019, the FASB issued ASU 2019-12 “Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes.” This guidance removes certain exceptions to the general principles in Topic 740 and provides consistent application of U.S. GAAP by clarifying and amending existing guidance. The effective date of the new guidance for public companies is for fiscal years beginning after December 15, 2020 and interim periods within those fiscal years. Early adoption is permitted. The Company is currently evaluating the timing of adoption and impact of the updated guidance on its financial statements. In February 2020, the FASB issued ASU 2020-02, Financial Instruments-Credit Losses (Topic 326) and Leases (Topic 842) - Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 119 and Update to SEC Section on Effective Date Related to Accounting Standards Update No. 2016-02, Leases (Topic 842) In August 2020, the FASB issued ASU 2020-06, Debt – Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging – Contracts in Entity’s Own Equity (Subtopic 815 – 40) |
Nature of Business and Basis _3
Nature of Business and Basis of Presentation (Details Narrative) - USD ($) | 1 Months Ended | 3 Months Ended | 6 Months Ended | 10 Months Ended | |
Feb. 01, 2019 | Apr. 06, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | |
Obligation with Joint and Several Liability Arrangement [Line Items] | |||||
Stockholders' Equity, Reverse Stock Split | Effective February 1, 2019, the Company completed a 20 to 1 reverse split of its Common Stock, reducing the issued and outstanding shares of Common Stock from 1,713,046,242 to 85,652,400 (the “First Reverse Stock Split”). | Effective April 6, 2020, the Company completed another 20 to 1 reverse split of its Common Stock, reducing the issued and outstanding shares of Common Stock from 1,193,501,925 to 59,675,417 (the “Second Reverse Stock Split”). | |||
Proceeds notes pay | $ 1,918,500 | $ 155,007 | |||
Promissory Notes [Member] | R B Capital [Member] | |||||
Obligation with Joint and Several Liability Arrangement [Line Items] | |||||
debt stated rate | 500.00% | 500.00% | |||
Proceeds notes pay | $ 2,554,000 |
Going Concern and Liquidity (De
Going Concern and Liquidity (Details Narrative) - USD ($) | Jun. 30, 2021 | Dec. 31, 2020 |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Cash and cash equivalents | $ 1,735,094 | $ 989,888 |
Outstanding liabilities | $ 2,689,778 | $ 2,000,311 |
Notes Payable (Details Narrativ
Notes Payable (Details Narrative) - USD ($) | Jan. 12, 2021 | Jan. 05, 2021 | Feb. 12, 2021 | Jan. 29, 2021 | Jan. 27, 2021 | Feb. 22, 2021 | Apr. 05, 2021 | Apr. 20, 2021 | Apr. 27, 2020 | Jun. 02, 2021 | Jun. 01, 2021 | May 19, 2021 | Jun. 30, 2021 | Jun. 15, 2021 | Jul. 07, 2020 | Jun. 30, 2020 | Aug. 14, 2020 | Jul. 27, 2020 | Sep. 14, 2020 | Sep. 24, 2020 | Oct. 01, 2019 | Oct. 20, 2020 | Dec. 02, 2020 | Nov. 25, 2020 | Nov. 24, 2020 | Nov. 19, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Mar. 31, 2021 | Dec. 31, 2020 | Apr. 17, 2020 |
Debt Instrument [Line Items] | |||||||||||||||||||||||||||||||
Interest accrued | $ 58,712 | $ 24,320 | |||||||||||||||||||||||||||||
Repayments of notes payable | $ 327,352 | $ 0 | |||||||||||||||||||||||||||||
Note Payable 2018 [Member] | |||||||||||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||||||||||
Face Value | $ 122,253 | $ 136,744 | |||||||||||||||||||||||||||||
Interest Rate | 12.00% | 12.00% | |||||||||||||||||||||||||||||
Maturity Date | Dec. 31, 2020 | Dec. 31, 2019 | |||||||||||||||||||||||||||||
Debt converted, amount converted | $ 122,253 | $ 30,000 | |||||||||||||||||||||||||||||
Debt converted, shares issued | 136,500,000 | 1,500,000 | |||||||||||||||||||||||||||||
Note payable balance | $ 106,744 | ||||||||||||||||||||||||||||||
Interest accrued | $ 15,509 | ||||||||||||||||||||||||||||||
Debt converted, interest converted | $ 14,247 | ||||||||||||||||||||||||||||||
Debt converted, shares converted value | 7,884,100 | ||||||||||||||||||||||||||||||
Gain (Loss) on debt conversion | 7,747,600 | ||||||||||||||||||||||||||||||
C E B A Loan [Member] | Canada, Dollars | |||||||||||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||||||||||
Face Value | $ 40,000 | ||||||||||||||||||||||||||||||
Gain (Loss) on debt conversion | $ 20,000 | ||||||||||||||||||||||||||||||
Repayments of notes payable | $ 30,000 | ||||||||||||||||||||||||||||||
P P P Loan [Member] | |||||||||||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||||||||||
Face Value | $ 50,655 | ||||||||||||||||||||||||||||||
Interest Rate | 1.00% | ||||||||||||||||||||||||||||||
Note payable balance | $ 0 | ||||||||||||||||||||||||||||||
Periodic Payment | $ 2,133 | ||||||||||||||||||||||||||||||
Note Payable 1 [Member] | |||||||||||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||||||||||
Face Value | $ 48,000 | ||||||||||||||||||||||||||||||
Interest Rate | 8.00% | ||||||||||||||||||||||||||||||
Maturity Date | Jul. 7, 2021 | ||||||||||||||||||||||||||||||
Interest accrued | $ 15,271 | ||||||||||||||||||||||||||||||
Repayments of notes payable | $ 63,271 | ||||||||||||||||||||||||||||||
Note Payable 2 [Member] | |||||||||||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||||||||||
Face Value | $ 102,000 | ||||||||||||||||||||||||||||||
Interest Rate | 8.00% | ||||||||||||||||||||||||||||||
Maturity Date | Jul. 27, 2021 | ||||||||||||||||||||||||||||||
Debt converted, amount converted | $ 102,000 | ||||||||||||||||||||||||||||||
Debt converted, shares issued | 5,044,456 | ||||||||||||||||||||||||||||||
Debt converted, interest converted | $ 4,171 | ||||||||||||||||||||||||||||||
Debt converted, shares converted value | 484,268 | ||||||||||||||||||||||||||||||
Gain (Loss) on debt conversion | $ 378,097 | ||||||||||||||||||||||||||||||
Note Payable 3 [Member] | |||||||||||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||||||||||
Face Value | $ 67,000 | ||||||||||||||||||||||||||||||
Interest Rate | 8.00% | ||||||||||||||||||||||||||||||
Maturity Date | Aug. 14, 2021 | ||||||||||||||||||||||||||||||
Debt converted, amount converted | $ 67,000 | ||||||||||||||||||||||||||||||
Debt converted, shares issued | 542,173 | ||||||||||||||||||||||||||||||
Debt converted, interest converted | $ 2,680 | ||||||||||||||||||||||||||||||
Debt converted, shares converted value | 119,169 | ||||||||||||||||||||||||||||||
Gain (Loss) on debt conversion | $ 49,489 | ||||||||||||||||||||||||||||||
Note Payable 4 [Member] | |||||||||||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||||||||||
Interest Rate | 5.00% | ||||||||||||||||||||||||||||||
Maturity Date | Sep. 14, 2022 | ||||||||||||||||||||||||||||||
Debt converted, amount converted | $ 250,000 | ||||||||||||||||||||||||||||||
Debt converted, shares issued | 862,833 | ||||||||||||||||||||||||||||||
Debt converted, interest converted | $ 8,850 | ||||||||||||||||||||||||||||||
Debt converted, shares converted value | 170,841 | ||||||||||||||||||||||||||||||
Gain (Loss) on debt conversion | 88,009 | ||||||||||||||||||||||||||||||
Conversion Price | $ 0.30 | ||||||||||||||||||||||||||||||
Note Payable 5 [Member] | |||||||||||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||||||||||
Face Value | $ 50,000 | ||||||||||||||||||||||||||||||
Interest Rate | 5.00% | ||||||||||||||||||||||||||||||
Maturity Date | Sep. 24, 2022 | ||||||||||||||||||||||||||||||
Conversion Price | $ 0.30 | ||||||||||||||||||||||||||||||
Note Payable 6 [Member] | |||||||||||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||||||||||
Face Value | $ 250,000 | ||||||||||||||||||||||||||||||
Interest Rate | 5.00% | ||||||||||||||||||||||||||||||
Maturity Date | Oct. 20, 2022 | ||||||||||||||||||||||||||||||
Debt converted, amount converted | $ 250,000 | ||||||||||||||||||||||||||||||
Debt converted, shares issued | 858,666 | ||||||||||||||||||||||||||||||
Debt converted, interest converted | $ 7,600 | ||||||||||||||||||||||||||||||
Debt converted, shares converted value | 170,016 | ||||||||||||||||||||||||||||||
Gain (Loss) on debt conversion | $ 87,584 | ||||||||||||||||||||||||||||||
Conversion Price | $ 0.30 | ||||||||||||||||||||||||||||||
Note Payable 7 [Member] | |||||||||||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||||||||||
Face Value | $ 250,000 | ||||||||||||||||||||||||||||||
Interest Rate | 8.00% | ||||||||||||||||||||||||||||||
Maturity Date | Aug. 19, 2021 | ||||||||||||||||||||||||||||||
Note payable balance | $ 0 | ||||||||||||||||||||||||||||||
Interest accrued | $ 126,881 | ||||||||||||||||||||||||||||||
Repayments of notes payable | $ 376,881 | ||||||||||||||||||||||||||||||
Note Payable 8 [Member] | |||||||||||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||||||||||
Face Value | $ 260,000 | ||||||||||||||||||||||||||||||
Interest Rate | 8.00% | ||||||||||||||||||||||||||||||
Maturity Date | Nov. 24, 2021 | ||||||||||||||||||||||||||||||
Debt converted, amount converted | $ 260,000 | ||||||||||||||||||||||||||||||
Debt converted, shares issued | 3,865,841 | ||||||||||||||||||||||||||||||
Debt converted, interest converted | $ 10,428 | ||||||||||||||||||||||||||||||
Debt converted, shares converted value | 695,078 | ||||||||||||||||||||||||||||||
Gain (Loss) on debt conversion | $ 424,650 | ||||||||||||||||||||||||||||||
Note Payable 9 [Member] | |||||||||||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||||||||||
Face Value | $ 250,000 | ||||||||||||||||||||||||||||||
Interest Rate | 5.00% | ||||||||||||||||||||||||||||||
Maturity Date | Nov. 25, 2022 | ||||||||||||||||||||||||||||||
Conversion Price | $ 0.30 | ||||||||||||||||||||||||||||||
Note Payable 10 [Member] | |||||||||||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||||||||||
Face Value | $ 104,215 | ||||||||||||||||||||||||||||||
Interest Rate | 5.00% | ||||||||||||||||||||||||||||||
Maturity Date | Dec. 2, 2022 | ||||||||||||||||||||||||||||||
Conversion Price | $ 0.30 | ||||||||||||||||||||||||||||||
Note Payable 11 [Member] | |||||||||||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||||||||||
Face Value | $ 150,000 | ||||||||||||||||||||||||||||||
Interest Rate | 5.00% | ||||||||||||||||||||||||||||||
Maturity Date | Jan. 12, 2023 | ||||||||||||||||||||||||||||||
Conversion Price | $ 0.30 | ||||||||||||||||||||||||||||||
Note Payable 12 [Member] | |||||||||||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||||||||||
Face Value | $ 700,000 | $ 300,000 | |||||||||||||||||||||||||||||
Interest Rate | 5.00% | 5.00% | |||||||||||||||||||||||||||||
Maturity Date | Feb. 12, 2023 | Jan. 27, 2023 | |||||||||||||||||||||||||||||
Conversion Price | $ 0.60 | $ 0.50 | |||||||||||||||||||||||||||||
Note Payable 13 [Member] | |||||||||||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||||||||||
Face Value | $ 330,000 | ||||||||||||||||||||||||||||||
Interest Rate | 10.00% | ||||||||||||||||||||||||||||||
Maturity Date | Jan. 5, 2022 | ||||||||||||||||||||||||||||||
Note Payable 14 [Member] | |||||||||||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||||||||||
Face Value | $ 500,000 | ||||||||||||||||||||||||||||||
Interest Rate | 5.00% | ||||||||||||||||||||||||||||||
Maturity Date | Apr. 20, 2023 | ||||||||||||||||||||||||||||||
Conversion Price | $ 0.30 |
Notes Payable - Related Party (
Notes Payable - Related Party (Details Narrative) - USD ($) | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Mar. 31, 2021 | |
Obligation with Joint and Several Liability Arrangement [Line Items] | |||
Interest accrued | $ 24,320 | $ 58,712 | |
Note Payable Related Party [Member] | Chief Executive Officer [Member] | |||
Obligation with Joint and Several Liability Arrangement [Line Items] | |||
Face value | $ 143,661 | $ 128,269 | |
Interest rate | 12.00% | 12.00% | |
Debt Instrument, Maturity Date | Dec. 31, 2021 | Dec. 31, 2020 | |
Interest accrued | $ 15,392 |
Shareholders_ Equity (Details N
Shareholders’ Equity (Details Narrative) | 6 Months Ended |
Jun. 30, 2021USD ($)shares | |
Debt Conversion [Line Items] | |
Common stock issued for services, amount | $ 918,000 |
Dividends Payable | $ 0 |
Officers And Directors [Member] | |
Debt Conversion [Line Items] | |
Common stock issued for services, shares | shares | 60,000,000 |
Common stock issued for services, amount | $ 918,000 |
Outstanding Notes Payable [Member] | |
Debt Conversion [Line Items] | |
Debt converted, shares issued | shares | 79,673,969 |
Debt converted, amount converted | $ 993,028 |
Debt converted, interest converted | 38,021 |
Gain (Loss) on debt conversion | $ 7,205,843 |
Related Party Transactions (Det
Related Party Transactions (Details Narrative) - Officers And Directors [Member] - USD ($) | 6 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | |
Related Party Transaction [Line Items] | ||
Salary and Wage, Excluding Cost of Good and Service Sold | $ 125,927 | $ 55,830 |
Trt Pharma [Member] | ||
Related Party Transaction [Line Items] | ||
Salary and Wage, Excluding Cost of Good and Service Sold | $ 52,000 |