Cover
Cover - shares | 6 Months Ended | |
Jun. 30, 2024 | Aug. 15, 2024 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Document Period End Date | Jun. 30, 2024 | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2024 | |
Current Fiscal Year End Date | --12-31 | |
Entity File Number | 000-53505 | |
Entity Registrant Name | BRAVO MULTINATIONAL INCORPORATED | |
Entity Central Index Key | 0001444839 | |
Entity Tax Identification Number | 85-4068651 | |
Entity Incorporation, State or Country Code | WY | |
Entity Address, Address Line One | 2020 General Booth Blvd | |
Entity Address, Address Line Two | Unit 230 | |
Entity Address, City or Town | Virginia Beach | |
Entity Address, State or Province | VA | |
Entity Address, Postal Zip Code | 23454 | |
City Area Code | (757) | |
Local Phone Number | 306-6090 | |
Title of 12(b) Security | Common stock Par Value $0.0001 | |
Trading Symbol | BRVO | |
Security Exchange Name | NONE | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 47,641,011 |
CONDENSED CONSOLIDATED BALANCE
CONDENSED CONSOLIDATED BALANCE SHEETS - UNAUDITED - USD ($) | Jun. 30, 2024 | Dec. 31, 2023 |
Current Assets | ||
Cash and Cash Equivalents | $ 177 | $ 1,180 |
Total Current Assets | 177 | 1,180 |
Total Assets | 177 | 1,180 |
Liabilities | ||
Accounts Payable and Accrued Expenses | 85,439 | 12,453 |
Customer Deposits | 35,800 | |
Due to Related Parties | 258,058 | 154,280 |
Accrued Board of Directors Fees | 294,750 | 207,250 |
Total Liabilities | 638,247 | 409,783 |
Stockholders' Deficit | ||
Common Stock - $0.0001 Par; 1,000,000,000 Shares Authorized, 47,641,010 Issued and Outstanding | 4,763 | 4,763 |
Additional Paid-In-Capital | 95,374,399 | 95,374,399 |
Accumulated Deficit | (96,017,232) | (95,787,765) |
Total Stockholders' Deficit | (638,070) | (408,603) |
Total Liabilities and Stockholders' Deficit | $ 177 | $ 1,180 |
CONDENSED CONSOLIDATED BALANC_2
CONDENSED CONSOLIDATED BALANCE SHEETS - UNAUDITED (Parenthetical) - $ / shares | Jun. 30, 2024 | Dec. 31, 2023 |
Statement of Financial Position [Abstract] | ||
Common stock, par value per share | $ 0.0001 | $ 0.0001 |
Common stock, shares authorized | 1,000,000,000 | 1,000,000,000 |
Common stock, shares issued | 47,641,010 | 47,641,010 |
Common stock, shares outstanding | 47,641,010 | 47,641,010 |
CONDENSED CONSOLIDATED STATEMEN
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - UNAUDITED - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Expenses | ||||
General and Administrative | $ 15,366 | $ 4,046 | $ 44,975 | $ 5,423 |
Professional Fees | 32,633 | 26,040 | 132,792 | 49,375 |
Board of Directors Fees | 43,750 | 43,750 | 87,500 | 162,500 |
Total Expenses | 91,749 | 73,836 | 265,267 | 217,298 |
Loss Before Income from Customer Deposit Writeoff | 91,749 | 73,836 | 265,267 | 217,298 |
Income from Customer Deposit Writeoff | (35,800) | |||
Loss Before Income Taxes | 91,749 | 73,836 | 229,467 | 217,298 |
Income Taxes | ||||
Net Loss for the Period | $ 91,749 | $ 73,836 | $ 229,467 | $ 217,298 |
Weighted Average Number of Common Shares - Basic | 47,641,010 | 47,641,010 | 47,641,010 | 47,641,010 |
Weighted Average Number of Common Shares - Diluted | 47,641,010 | 47,641,010 | 47,641,010 | 47,641,010 |
Net Loss for the Period Per Common Shares - Basic | $ 0 | $ 0 | $ 0 | $ 0 |
Net Loss for the Period Per Common Shares - Diluted | $ 0 | $ 0 | $ 0 | $ 0 |
CONDENSED CONSOLIDATED STATEM_2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - UNAUDITED - USD ($) | 6 Months Ended | |
Jun. 30, 2024 | Jun. 30, 2023 | |
Cash Flows from Operating Activities | ||
Net Loss for the Period | $ (229,467) | $ (217,298) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Income from Customer Deposit Writeoff | (35,800) | |
Changes in Assets and Liabilities: | ||
Prepaid Expenses - Retainers | (29,325) | |
Accounts Payable and Accrued Expenses | 72,986 | 8,186 |
Accrued Board of Directors Fees | 87,500 | 162,500 |
Net Cash Flows Used In Operating Activities | (104,781) | (75,937) |
Cash Flows from Investing Activities | ||
Cash Flows from Financing Activities | ||
Due to Related Parties, Net | 103,778 | 78,398 |
Net Cash Flows Provided by Financing Activities | 103,778 | 78,398 |
Net Change in Cash and Cash Equivalents | (1,003) | 2,461 |
Cash and Cash Equivalents - Beginning of Period | 1,180 | 73 |
Cash and Cash Equivalents - End of Period | 177 | 2,534 |
Cash Paid During the Period for: | ||
Interest | ||
Income Taxes | ||
Non-Cash Transactions | ||
Accrued Board of Directors Fees - Contributed to Capital | 1,580,167 | |
Due to Related Parties - Contributed to Capital | $ 205,739 |
CONDENSED CONSOLIDATED STATEM_3
CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' DEFICIT UNAUDITED - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Balance - March 31, 2024 at Dec. 31, 2022 | $ 4,763 | $ 89,168,493 | $ (90,940,720) | $ (1,767,464) |
Beginning balance, shares at Dec. 31, 2022 | 47,641,010 | |||
Net Loss for the Period | (143,462) | (143,462) | ||
Balance - June 30, 2024 at Mar. 31, 2023 | $ 4,763 | 89,168,493 | (91,084,182) | (1,910,926) |
Ending balance, shares at Mar. 31, 2023 | 47,641,010 | |||
Capital Contributions - Directors | 1,785,906 | 1,785,906 | ||
Net Loss for the Period | 73,836 | 73,836 | ||
Balance - June 30, 2024 at Jun. 30, 2023 | $ 4,763 | 90,954,399 | (91,010,346) | (51,184) |
Ending balance, shares at Jun. 30, 2023 | 47,641,010 | |||
Balance - March 31, 2024 at Dec. 31, 2023 | $ 4,763 | 95,374,399 | (95,787,765) | (408,603) |
Beginning balance, shares at Dec. 31, 2023 | 47,641,010 | |||
Net Loss for the Period | (137,718) | (137,718) | ||
Balance - June 30, 2024 at Mar. 31, 2024 | $ 4,763 | 95,374,399 | (95,925,483) | (546,321) |
Ending balance, shares at Mar. 31, 2024 | 47,641,010 | |||
Net Loss for the Period | (91,749) | (91,749) | ||
Balance - June 30, 2024 at Jun. 30, 2024 | $ 4,763 | $ 95,374,399 | $ (96,017,232) | $ (638,070) |
Ending balance, shares at Jun. 30, 2024 | 47,641,010 |
Organization & Description of B
Organization & Description of Business | 6 Months Ended |
Jun. 30, 2024 | |
Accounting Policies [Abstract] | |
Organization & Description of Business | NOTE 1 – Organization & Description of Business Bravo Multinational Corporation (the “Company,” “we” or “us”) was originally formed as Montrose Ventures, Inc. in the State of Delaware on May 25, 1989. On April 23, 1996, the Company’s name was changed to Java Group, Inc., and on September 1, 2004 the name was changed to Consolidated General Corp. On August 7, 2007, the Company’s name was changed to GoldCorp Holdings Co. On October 15, 2010, our name was changed to GoldLand Holdings Co. On April 6, 2016, we changed our corporate name to Bravo Multinational Incorporated. On March 22, 2016, the board of directors of the company, pursuant to Section 242 of the Delaware General Corporation Law, determined it was in the best interests of the company that the name of the company should be changed to Bravo Multinational Incorporated, with such change of name to be effective upon compliance with all regulatory requirements mandated by FINRA. Further, as a result of the change of the company’s name and upon satisfaction of all regulatory requirements, the trading symbol for the shares of the company’s common stock should be changed to “BRVO,” and the company’s CUSIP identifier be changed to a newly issued number. FINRA granted its approval of the change of the company’s name on April 6, 2016. As a result of the change of name of the company, the company’s trading symbol was changed to “BRVO” and the CUSIP identifier was changed to 10568F109. On August 3, 2020, the Board of Directors agreed in changing the Company’s incorporation from Delaware to Wyoming. On September 25, 2020, the Company merged into its wholly owned subsidiary Bravo Multinational (Wyoming) to achieve the change in state incorporation. On July 20, 2023 the Company formed a wholly-owned subsidiary; Global Merchandising Inc., a Nevada Corporation. This company has had no activity through June 30, 2024. The Company filed a Form 8-K with the SEC on April 7, 2016, announcing the change of name, trading symbol, and CUSIP identifier. The Company owned patented and unpatented mining claims on War Eagle Mountain in the state of Idaho. The Company entered into a lease agreement with Silver Falcon Mining, Inc. (SFMI) under which SFMI is entitled to mine the land and the Company is entitled to a 15 76.63 29.167 The Company’s previous business plan was the buying and reselling of gaming equipment. The Company also bought machines for its own use that were placed in casinos or gaming areas to obtain monthly revenue streams from the machines’ net win revenue. On July 3, 2023, the Company changed its business plan and will pursue business ventures in the entertainment, hospitality, and technology . |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2024 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | NOTE 2 – Summary of Significant Accounting Policies Basis of Presentation The accompanying condensed consolidated balance sheet at December 31, 2023, has been derived from audited financial statements and the accompanying unaudited condensed consolidated interim financial statements as of June 30, 2024 and 2023, have been prepared in accordance with generally accepted accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 8 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements and should be read in conjunction with the audited financial statements and related footnotes included in our Annual report on Form 10-K for the year ended December 31, 2023 (the “2023 Annual Report”), filed with the Securities and Exchange Commission (the “SEC”). It is management’s opinion, however, that all material adjustments (consisting of normal recurring adjustments), have been made which are necessary for a fair financial statement presentation. Operating results for the three and six months ended June 30, 2024, are not necessarily indicative of the results of operations expected for the year ending December 31, 2023. Principles of Consolidation The condensed consolidated financial statements include the accounts of Bravo Multinational Incorporated, its wholly owned subsidiaries, Universal Entertainment SAS, Ltd., Bravo Global Merchandising, and Bravo Acquisition Corp. (the “Company”). All significant inter-company balances have been eliminated in consolidation. During the year ended December 31, 2017, management recognized that Universal is an inactive Florida corporation which no longer operates. Method of Accounting The Company’s condensed consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”). Cash and Cash Equivalents Cash and cash equivalents may include time deposits, certificates of deposit, and all highly liquid debt instruments with original maturities of three months or less. The Company maintains cash and cash equivalents at financial institutions located in the United States, which periodically may exceed federally insured amounts. 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 period. Actual results could differ from those estimates. Earnings (Loss) per Share Earnings (loss) per share of common stock are computed in accordance with FASB ASC 260 “Earnings per Share”. Basic earnings (loss) per share are computed by dividing income or loss available to common shareholders by the weighted-average number of common shares outstanding for each period. Diluted earnings per share are calculated by adjusting the weighted average number of shares outstanding assuming conversion of all potentially dilutive stock options, warrants and convertible securities, if dilutive. Common stock equivalents that are anti-dilutive are excluded from both diluted weighted average number of common shares outstanding and diluted earnings (loss) per share. Stock Based Compensation The Company has issued and may issue stock in lieu of cash for certain transactions. The fair value of the stock, which is based on comparable cash purchases, third party fair values of shares or the value of services, whichever is more readily determinable, is used to value the transaction. Revenue Recognition The Company implemented ASC 606, Revenue from Contracts with Customers The Company recognizes revenue and cost of goods sold from product sales or services rendered when control of the promised goods are transferred to our clients in an amount that reflects the consideration to which we expect to be entitled in exchange for those goods and services. To achieve this core principle, we apply the following five steps: identify the contract with the client, identify the performance obligations in the contract, determine the transaction price, allocate the transaction price to performance obligations in the contract and recognize revenues when or as the Company satisfies a performance obligation. Fair Value Measurements The estimated fair values for financial instruments are determined at discrete points in time based on relevant market information. These estimates involve uncertainties and cannot be determined with precision. The carrying amounts of accounts payable, accrued liabilities, and notes payable approximate fair value. We adopted ASC Topic 820 for financial instruments measured at fair value on a recurring basis. ASC Topic 820 defines fair value, establishes a framework for measuring fair value in accordance with accounting principles generally accepted in the United States and expands disclosures about fair value measurements. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. ASC Topic 820 establishes a three-tier fair value hierarchy which prioritizes the inputs used in measuring fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). These tiers include: · Level 1, defined as observable inputs such as quoted prices for identical instruments in active markets; · Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable such as quoted prices for similar instruments in active markets or quoted prices for identical or similar instruments in markets that are not active; and · Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions, such as valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. The estimated fair values for financial instruments are determined at discrete points in time based on relevant market information. These estimates involve uncertainties and cannot be determined with precision. The carrying amounts of accounts receivable, inventory, notes payable, accounts payable, accrued liabilities approximate fair value given their short-term nature or effective interest rates. We measure certain financial instruments at fair value on a recurring basis. |
Recently Issued Accounting Pron
Recently Issued Accounting Pronouncements | 6 Months Ended |
Jun. 30, 2024 | |
Accounting Changes and Error Corrections [Abstract] | |
Recently Issued Accounting Pronouncements | NOTE 3 – Recently Issued Accounting Pronouncements The Company has implemented all new accounting pronouncements that are in effect and that may impact its consolidated financial statements and does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations. |
Going Concern
Going Concern | 6 Months Ended |
Jun. 30, 2024 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Going Concern | NOTE 4 – Going Concern The Company’s condensed consolidated 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 reported recurring losses from operations and has net current liabilities and an accumulated deficit. These conditions raise substantial doubt as to the Company’s ability to continue as a going concern. While the Company is attempting to continue operations and generate revenues, the Company’s cash position may not be significant enough to support the Company’s daily operations. Management intends to raise additional funds by way of a public or private offering. Management believes that the actions presently being taken to further implement the Company’s business plan and generate revenues provide the opportunity for the Company to continue as a going concern. While the Company believes in the viability of its strategy to generate revenues and in its ability to raise additional funds, there can be no assurances to that effect. The ability of the Company to continue as a going concern is dependent upon the Company’s ability to further implement its business plan and generate revenues. During the year ended December 31,2023 due to lack of revenues the officers of the Company paid for all expenses through loans to the Company. This allowed the Company to continue as a going concern. |
Related Party Transactions
Related Party Transactions | 6 Months Ended |
Jun. 30, 2024 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | NOTE 5 – Related Party Transactions Due to Related Parties consist of payments of Company expenses by the Company’s one (1) current director, one (1) former director, one (1) shareholder and two (2) companies with related shareholders. Amounts due were $ 258,058 154,280 The Company utilizes the services of Yes International Inc., which is controlled by Mr. Richard Kaiser who is a member of the Board of Directors. Yes International provides all services at no cost except for press release wire services and filing fees. For each of the three and six months ended June 30, 2024 and 2023 the Company paid press release wire services and filing fees a total in the amount of $ 735 1,800 2,286 1,800 |
Capital Stock
Capital Stock | 6 Months Ended |
Jun. 30, 2024 | |
Stockholders' Deficit | |
Capital Stock | NOTE 6 – Capital Stock Preferred Stock On January 16, 2017, the Company amended its certificate of incorporation to authorize an increase in blank check preferred shares to 50,000,000 5,000,000 10,000,000 40,000,000 Preferred stock - A can be converted into 100 shares of common stock, have dividend rights at 100 times common and have voting rights equal to 100 shares of common stock. 0 Common Stock On January 16, 2017, the Articles of Incorporation were amended to increase the authorized shares to 1,050,000,000 1,000,000,000 On September 20, 2023, 8,500,000 4,420,000 Stock Compensation Plan March 15, 2018, the Company resolved to adopt the Employees, Officers, Directors and Consultants Stock Plan for the Year 2018. The purpose of this Plan is to enable the Company, to promote the interests of the company and its stockholders by attracting and retaining employees, officers, directors and consultants capable of furthering the future success of the Company and by aligning their economic interests more closely with those of the company’s stockholders, by paying their retainers or fees in the form of shares of the Company’s common stock. The Plan shall expire on March 15, 2028. As of June 30, 2024 and December 31, 2023, previously issued shares totaled 4,516,667 |
Write off of Customer Deposits
Write off of Customer Deposits | 6 Months Ended |
Jun. 30, 2024 | |
Write Off Of Customer Deposits | |
Write off of Customer Deposits | NOTE 7 – Write off of Customer Deposits During the six months ended June 30, 2024, the Company wrote off $ 35,800 |
Commitments and Contingencies
Commitments and Contingencies | 6 Months Ended |
Jun. 30, 2024 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | NOTE 8 – Commitments and Contingencies Beginning in 2018, the Company leases space at Yes International Inc., a related party, at no cost. Rent expense for the each of the three and six months ended June 30, 2024 and 2023 was $- 0 |
Share Exchange
Share Exchange | 6 Months Ended |
Jun. 30, 2024 | |
Share Exchange | |
Share Exchange | NOTE 9 – Share Exchange On July 13, 2023 the Company and RPI closed their share exchange agreement. The Company issued 8,500,000 4,420,000 Since RPI had no assets or operations the goodwill was immediately impaired and is shown in the statement of operations for the three and nine months ended December 31, 2023. On November 14, 2023, the share exchange agreement was rescinded by all parties and the issued shares were returned. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2024 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation The accompanying condensed consolidated balance sheet at December 31, 2023, has been derived from audited financial statements and the accompanying unaudited condensed consolidated interim financial statements as of June 30, 2024 and 2023, have been prepared in accordance with generally accepted accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 8 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements and should be read in conjunction with the audited financial statements and related footnotes included in our Annual report on Form 10-K for the year ended December 31, 2023 (the “2023 Annual Report”), filed with the Securities and Exchange Commission (the “SEC”). It is management’s opinion, however, that all material adjustments (consisting of normal recurring adjustments), have been made which are necessary for a fair financial statement presentation. Operating results for the three and six months ended June 30, 2024, are not necessarily indicative of the results of operations expected for the year ending December 31, 2023. |
Principles of Consolidation | Principles of Consolidation The condensed consolidated financial statements include the accounts of Bravo Multinational Incorporated, its wholly owned subsidiaries, Universal Entertainment SAS, Ltd., Bravo Global Merchandising, and Bravo Acquisition Corp. (the “Company”). All significant inter-company balances have been eliminated in consolidation. During the year ended December 31, 2017, management recognized that Universal is an inactive Florida corporation which no longer operates. |
Method of Accounting | Method of Accounting The Company’s condensed consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”). |
Cash and Cash Equivalents | Cash and Cash Equivalents Cash and cash equivalents may include time deposits, certificates of deposit, and all highly liquid debt instruments with original maturities of three months or less. The Company maintains cash and cash equivalents at financial institutions located in the United States, which periodically may exceed federally insured amounts. |
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 period. Actual results could differ from those estimates. |
Earnings (Loss) per Share | Earnings (Loss) per Share Earnings (loss) per share of common stock are computed in accordance with FASB ASC 260 “Earnings per Share”. Basic earnings (loss) per share are computed by dividing income or loss available to common shareholders by the weighted-average number of common shares outstanding for each period. Diluted earnings per share are calculated by adjusting the weighted average number of shares outstanding assuming conversion of all potentially dilutive stock options, warrants and convertible securities, if dilutive. Common stock equivalents that are anti-dilutive are excluded from both diluted weighted average number of common shares outstanding and diluted earnings (loss) per share. |
Stock Based Compensation | Stock Based Compensation The Company has issued and may issue stock in lieu of cash for certain transactions. The fair value of the stock, which is based on comparable cash purchases, third party fair values of shares or the value of services, whichever is more readily determinable, is used to value the transaction. |
Revenue Recognition | Revenue Recognition The Company implemented ASC 606, Revenue from Contracts with Customers The Company recognizes revenue and cost of goods sold from product sales or services rendered when control of the promised goods are transferred to our clients in an amount that reflects the consideration to which we expect to be entitled in exchange for those goods and services. To achieve this core principle, we apply the following five steps: identify the contract with the client, identify the performance obligations in the contract, determine the transaction price, allocate the transaction price to performance obligations in the contract and recognize revenues when or as the Company satisfies a performance obligation. |
Fair Value Measurements | Fair Value Measurements The estimated fair values for financial instruments are determined at discrete points in time based on relevant market information. These estimates involve uncertainties and cannot be determined with precision. The carrying amounts of accounts payable, accrued liabilities, and notes payable approximate fair value. We adopted ASC Topic 820 for financial instruments measured at fair value on a recurring basis. ASC Topic 820 defines fair value, establishes a framework for measuring fair value in accordance with accounting principles generally accepted in the United States and expands disclosures about fair value measurements. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. ASC Topic 820 establishes a three-tier fair value hierarchy which prioritizes the inputs used in measuring fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). These tiers include: · Level 1, defined as observable inputs such as quoted prices for identical instruments in active markets; · Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable such as quoted prices for similar instruments in active markets or quoted prices for identical or similar instruments in markets that are not active; and · Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions, such as valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. The estimated fair values for financial instruments are determined at discrete points in time based on relevant market information. These estimates involve uncertainties and cannot be determined with precision. The carrying amounts of accounts receivable, inventory, notes payable, accounts payable, accrued liabilities approximate fair value given their short-term nature or effective interest rates. We measure certain financial instruments at fair value on a recurring basis. |
Organization & Description of_2
Organization & Description of Business (Details Narrative) | 6 Months Ended |
Jun. 30, 2024 a | |
Net royalty percentage | 15% |
Area of Land | 76.63 |
Ownership Interest [Member] | |
Ownership interest | 29.167% |
Related Party Transactions (Det
Related Party Transactions (Details Narrative) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | Dec. 31, 2023 | |
Related Party Transactions [Abstract] | |||||
Due to related parties | $ 258,058 | $ 258,058 | $ 154,280 | ||
Amount of press release wire services | $ 735 | $ 1,800 | $ 2,286 | $ 1,800 |
Capital Stock (Details Narrativ
Capital Stock (Details Narrative) - USD ($) | 6 Months Ended | ||||
Jul. 13, 2023 | Jun. 30, 2024 | Dec. 31, 2023 | Sep. 20, 2023 | Jan. 16, 2017 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||
Preferred stock, shares issued | 0 | 0 | |||
Preferred stock, shares outstanding | 0 | 0 | |||
Shares authorized | 1,050,000,000 | ||||
Common stock, shares authorized | 1,000,000,000 | 1,000,000,000 | |||
Shares issued | 8,500,000 | 4,516,667 | 4,516,667 | ||
Goodwill impairment | $ 4,420,000 | $ 4,420,000 | |||
RPI Inc [Member] | Two Shareholders [Member] | |||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||
Shares issued | 8,500,000 | ||||
Series A Preferred Stock [Member] | |||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||
Preferred stock, shares authorized | 10,000,000 | ||||
Preferred Stock [Member] | |||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||
Preferred stock voting rights | Preferred stock - A can be converted into 100 shares of common stock, have dividend rights at 100 times common and have voting rights equal to 100 shares of common stock. | ||||
Preferred Stock [Member] | Series A Preferred Stock [Member] | |||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||
Preferred stock, shares authorized | 40,000,000 | ||||
Common Stock [Member] | |||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||
Common stock, shares authorized | 1,000,000,000 | ||||
Maximum [Member] | Preferred Stock [Member] | |||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||
Preferred stock, shares authorized | 50,000,000 | ||||
Minimum [Member] | Preferred Stock [Member] | |||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||
Preferred stock, shares authorized | 5,000,000 |
Write off of Customer Deposits
Write off of Customer Deposits (Details Narrative) | 6 Months Ended |
Jun. 30, 2024 USD ($) | |
Write Off Of Customer Deposits | |
Write off of customer deposits | $ 35,800 |
Commitments and Contingencies (
Commitments and Contingencies (Details Narrative) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Commitments and Contingencies Disclosure [Abstract] | ||||
Rent expense | $ 0 | $ 0 | $ 0 | $ 0 |
Share Exchange (Details Narrati
Share Exchange (Details Narrative) - USD ($) | 6 Months Ended | |||
Nov. 14, 2023 | Jul. 13, 2023 | Jun. 30, 2024 | Dec. 31, 2023 | |
Share Exchange | ||||
Shares issued | 8,500,000 | 4,516,667 | 4,516,667 | |
Goodwill impairment | $ 4,420,000 | $ 4,420,000 | ||
Share exchange agreement, description | share exchange agreement was rescinded by all parties and the issued shares were returned. |