Newpoint Financial (NPFC) 10-Q 23 May 22 2022 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Mar. 31, 2022	May 20, 2022
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Mar. 31, 2022
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2022
Current Fiscal Year End Date	--12-31
Entity File Number	000-54953
Entity Registrant Name	Newpoint Financial Corp.
Entity Central Index Key	0001445831
Entity Tax Identification Number	47-2653358
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	433 North Camden Drive
Entity Address, Address Line Two	Suite 725
Entity Address, City or Town	Beverly Hills
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	90210
City Area Code	(860)
Local Phone Number	574-9190
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		19,153,923

Condensed Balance Sheets (Unaud

Condensed Balance Sheets (Unaudited) - USD ($)	Mar. 31, 2022	Dec. 31, 2021
Current Assets:
Cash		$ 5,843
Interest Receivable	4,860
TOTAL CURRENT ASSETS	4,860	5,843
Other Assets:
Investments	50,000,000	50,000,000
Deposits	1,000,000
Credit facilities	330,800	163,500
Total Other Assets	51,330,800	50,163,500
TOTAL ASSETS	51,335,660	50,169,343
Current Liabilities:
Accounts Payable	35,631	31,730
Accounts Payable - Related Parties	235,821	68,021
Total Current Liabilities	271,452	99,751
Non-Current Liabilities:
Loan payable-Related Parties	51,330,800	50,163,500
Total Liabilities	51,602,252	50,263,251
Stockholders’ Deficit:
Preferred Stock, par value $0.001, 50,000,000 shares Authorized, 0 Issued or Outstanding at March 31, 2022 and December 31, 2021
Common Stock, par value $0.001, 100,000,000 shares Authorized, 19,153,923 shares Issued and Outstanding at March 31, 2022 and 216,185 shares Issued at December 31, 2021	19,154	19,154
Additional Paid-In Capital	419,028	419,028
Accumulated Deficit	(704,774)	(532,090)
Total Stockholders’ Deficit	(266,592)	(93,908)
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT	$ 51,335,660	$ 50,169,343

Condensed Balance Sheets (Una_2

Condensed Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Mar. 31, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	50,000,000	50,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	19,153,923	216,185
Common stock, shares outstanding	19,153,923

Condensed Statements of Operati

Condensed Statements of Operations (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Income Statement [Abstract]
Revenues
Expenses:
Professional fees	14,457
General and administrative expense	20,621	20,924
Total Operating Expenses	35,078	20,924
Operating Loss	(35,078)	(20,924)
Other Income (Expense)
Interest Income	4,860
Interest expense	(142,466)
Total Other Income (Expense)	(137,606)
Net Loss	$ (172,684)	$ (20,924)
Basic & Diluted Loss per Common Share	$ (0.01)	$ 0
Weighted Average Common Shares Outstanding	19,153,923	15,111,035

Condensed Statements of Stockho

Condensed Statements of Stockholders' Deficit (Unaudited) - USD ($)	Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Beginning balance at Dec. 31, 2020		$ 216	$ 350,931	$ (444,912)	$ (93,765)
Beginning balance, shares at Dec. 31, 2020		216,185
Net Loss				(20,924)	(20,924)
Issue of Common Shares		$ 18,938	68,097		87,035
Issue of Common Shares, shares		18,937,738
Ending balance at Mar. 31, 2021		$ 19,154	419,028	(465,836)	(27,654)
Ending balance, shares at Mar. 31, 2021		19,153,923
Beginning balance at Dec. 31, 2020		$ 216	350,931	(444,912)	(93,765)
Beginning balance, shares at Dec. 31, 2020		216,185
Ending balance at Dec. 31, 2021		$ 19,154	419,028	(532,090)	(93,908)
Ending balance, shares at Dec. 31, 2021		19,153,923
Net Loss				(172,684)	(172,684)
Ending balance at Mar. 31, 2022		$ 19,154	$ 419,028	$ (704,774)	$ (266,592)
Ending balance, shares at Mar. 31, 2022		19,153,923

Condensed Statements of Cash Fl

Condensed Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Loss	$ (172,684)	$ (20,924)
Expenses paid by Related Party	167,800	20,924
Changes In:
Accounts Payable	3,901
Interest Receivable	(4,860)
Net Cash Provided by (Used in) Operating Activities	(5,843)
Net Increase (decrease) in Cash	(5,843)
Cash at Beginning of Period	5,843
Cash at End of Period
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Interest
Income Taxes
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES
Deposit paid to AMIC, Inc. financed with related party debt	1,000,000
Credit Commitment funded with related party debt	$ 167,300

ORGANIZATION AND NATURE OF BUSI

ORGANIZATION AND NATURE OF BUSINESS	3 Months Ended
	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION AND NATURE OF BUSINESS	NOTE 1 – ORGANIZATION AND NATURE OF BUSINESS Newpoint Financial Corp. (“Newpoint”) was incorporated in the State of Delaware November 16, 2005 500-1 reverse stock split

GOING CONCERN

GOING CONCERN	3 Months Ended
	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
GOING CONCERN	NOTE 2 – GOING CONCERN The accompanying financial statements have been prepared assuming 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 Company has generated interest on the credit facility provided of $ 4,860 172,684 20,924 704,774 532,090 The Company to date has been financially supported by related party entities which are also owned by the majority shareholders of the Company. The Company will continue to be financially supported by related party entities until such time as the company generates sufficient cashflow to support its expense requirements or completes an external capital raising.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, and expenses during the reporting period. On an on-going basis, the Company evaluates its estimates. Actual results and outcomes may differ materially from the estimates as additional information becomes known. Cash and Cash Equivalents Cash and cash equivalents includes highly liquid instruments with original maturities of three months or less. Investments Short-term investments, Fixed maturities and equity securities Short-term investments comprise investments with a maturity greater than three months up to one year from the date of purchase. Short-term investments are carried at fair value, with realized and unrealized gains and losses included in net earnings are reported as net realized and unrealized gains and losses, respectively. Newpoint Financial Corp. Notes to Financial Statements March 31, 2022 and 2021 NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) Investments in debt securities that are bought and held principally for the purpose of selling them in the near term are classified as trading securities. Trading securities are recorded at fair value on the balance sheet in current assets, with the change in fair value during the period included in earnings. Debt securities held as investments that the Company classifies as held-to-maturity securities are recorded at amortized cost, net of a valuation allowance for credit losses. Investments in debt securities not classified as either held-to-maturity or trading securities are classified as available-for-sale securities. Available-for-sale securities are recorded at fair value, with the change in fair value during the period excluded from earnings and recorded net of tax as a component of other comprehensive income. Investments in equity securities are reported at fair value with realized and unrealized gains and losses included in net earnings are reported as net realized and unrealized gains and losses, respectively. If there are no readily determinable fair values, investments in equity securities are measured at cost less impairment. Valuation allowance for fixed income securities Management evaluates impairment losses for all HTM securities each quarter. The HTM securities are evaluated for potential impairment on investments not measured at fair value through net earnings. An allowance for impairment is derived based on various data sources, multiple key inputs and forecast scenarios. These include default rates specific to the individual security, vintage of the security, geography of the issuer of the security, industry analyst reports, credit ratings and consensus economic forecasts. Securities that meet any one of the criteria included above will be subject to a discounted cash flow analysis by comparing the present value of expected future cash flows with the amortized cost basis. Projected cash flows are driven primarily by assumptions regarding probability of default and the timing and amount of recoveries associated with defaults. Fair Value of Financial Instruments The Company measures certain financial assets and liabilities at fair value based on the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants. The carrying value of cash and cash equivalents and accounts payable approximate their fair value because of the short-term nature of these instruments and their liquidity. Management is of the opinion that the Company is not exposed to significant interest or credit risks arising from these financial instruments. Income Taxes Deferred income tax assets and liabilities are determined based on the estimated future tax effects of net operating loss and credit carryforwards and temporary differences between the tax basis of assets and liabilities and their respective financial reporting amounts measured at the current enacted tax rates. The Company records an estimated valuation allowance on its deferred income tax assets if it is not more likely than not that these deferred income tax assets will be realized. The Company recognizes a tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position are measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. As of March 31, 2022 and December 31, 2021, the Company has determined it does not have any uncertain tax positions. Segment Reporting The Company’s business currently operates in one segment. Newpoint Financial Corp. Notes to Financial Statements March 31, 2022 and March 31, 2021 NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) Net Loss per Share The computation of basic net loss per common share is based on the weighted average number of shares that were outstanding during the year. The computation of diluted net loss per common share is based on the weighted average number of shares used in the basic net loss per share calculation plus the number of common shares that would be issued assuming the exercise of all potentially dilutive common shares outstanding using the treasury stock method. Recently Issued Accounting Pronouncements The Company reviews new accounting standards as issued. Although some of these accounting standards issued or effective after the end of the Company’s previous fiscal year may be applicable to the Company, it has not identified any standards that it believes merit further discussion. The Company does not expect the adoption of any recently issued accounting pronouncements to have a significant impact on its financial position, results of operations, or cash flows. Related Parties The Company follows subtopic 850-10 of the FASB Accounting Standards Codification for the identification of related parties and disclosure of related party transactions. Pursuant to Section 850-10-20 the related parties include (a) affiliates of the registrant; (b) entities for which investments in their equity securities would be required, absent the election of the fair value option under the Fair Value Option Subsection of Section 825–10–15, to be accounted for by the equity method by the investing entity; (c) trusts for the benefit of employees, such as pension and profit-sharing trusts that are managed by or under the trusteeship of management; (d) principal owners of the Company; (e) management of the Company; (f) other parties with which the Company may deal if one party controls or can significantly influence the management or operating policies of the other to an extent that one of the transacting parties might be prevented from fully pursuing its own separate interests; and (g) Other parties that can significantly influence the management or operating policies of the transacting parties or that have an ownership interest in one of the transacting parties and can significantly influence the other to an extent that one or more of the transacting parties might be prevented from fully pursuing its own separate interests. The financial statements include disclosures of material related party transactions, other than compensation arrangements, expense allowances, and other similar items in the ordinary course of business. However, disclosure of transactions that are eliminated in the preparation of financial statements is not required in those statements. The disclosures shall include: (a) the nature of the relationship(s) involved; (b) description of the transactions, including transactions to which no amounts or nominal amounts were ascribed, for each of the periods for which income statements are presented, and such other information deemed necessary to an understanding of the effects of the transactions on the financial statements; (c) the dollar amounts of transactions for each of the periods for which income statements are presented and the effects of any change in the method of establishing the terms from that used in the preceding period; and (d) amounts due from or to related parties as of the date of each balance sheet presented and, if not otherwise apparent, the terms and manner of settlement.

INVESTMENTS

INVESTMENTS	3 Months Ended
	Mar. 31, 2022
Investments, All Other Investments [Abstract]
INVESTMENTS	NOTE 4 – INVESTMENTS On December 10, 2021, the Company entered into a stock purchase agreement with Novea Inc., a Wyoming corporation (“Novea”), whereby we acquired five hundred thousand ( 500,000 100 2.503474 ten years 50,000,000 500,000 1,251,737 10 50,000,000 As consideration for such purchase, Newpoint Financial Corp (a Wyoming corporation), now known as NPFC SPV 1, Inc., an entity that was owned by the current controlling shareholders, issued to Novea ten (10) secured $ 5,000,000 50,000,000 As of March 31, 2022 and December 31, 2021, investments in debt securities include mandatorily redeemable preferred stock which is classified as held to maturity, with a term ending in December 2031. The amortized cost was $ 50,000,000 1,251,737 10 Newpoint Financial Corp. Notes to Financial Statements March 31, 2022 and March 31, 2021

DEPOSITS

DEPOSITS	3 Months Ended
	Mar. 31, 2022
DEPOSITS	NOTE 5 - DEPOSITS In August 2021, the Company entered into an agreement with Citadel Risk Holdings, Inc., (“CRHI”) which owns all the shares of American Millennium Insurance Co., (“AMIC”) a New Jersey based insurance company. We agreed to purchase 3.75% of AMIC’s outstanding shares per year over the course of 10 years for an aggregate total 37.5 1,000,000

CREDIT COMMITMENT

CREDIT COMMITMENT	3 Months Ended
	Mar. 31, 2022
Credit Commitment
CREDIT COMMITMENT	NOTE 6 – CREDIT COMMITMENT The Company entered into a five ( 5 5,000,000 500,000 5.25 4,669,200 4,836,500

RELATED PARTY TRANSACTIONS AND

RELATED PARTY TRANSACTIONS AND NOTE PAYABLE	3 Months Ended
	Mar. 31, 2022
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS AND NOTE PAYABLE	NOTE 7 – RELATED PARTY TRANSACTIONS AND NOTE PAYABLE SCHEDULE OF RELATED PARTY TRANSACTION March 31, 2022 December 31, 2021 Due to Related Parties Newpoint Financial Corp (Wyoming) (1) $ 51,142,466 $ 50,000,000 Newpoint Reinsurance Limited (2) $ 163,500 $ 163,500 Newpoint Capital Limited (3) $ 260,655 $ 68,021 Total $ 51,566,621 $ 50,231,521 (1) Newpoint Financial Corp (a Wyoming corporation), now known as NPFC SPV 1, Inc. entered into an agreement dated December 13, 2021 with the Company as part of the transaction to provide the collateral notes to Novea. In December 2021 the Company entered into a Loan Facility Agreement (the “LFA”) with NPFC SPV I, an entity owned by the Company’s principal stockholders, in connection with the Stock Purchase Agreement between the Company and Novea (see Note 4). The LFA provides total principal of $ 50,000,000 1 1,000,000 142,466 (2) Newpoint Reinsurance Limited registered under the provisions of the Nevis business Corporation 1984 Ordinance, as amended. In December 2021 the Company entered into a Revolving Credit Facility Agreement (the “RCFA”) with Newpoint Reinsurance Company Limited, an entity owned by the Company’s majority shareholder. The RCFA provides for available borrowings up to $ 1,000,000 three years 836,500 163,500 no (3) Newpoint Capital Limited, a company registered in the United Kingdom has provided $ 260,655 167,300 Newpoint Financial Corp. Notes to Financial Statements March 31, 2022 and March 31, 2021

STOCKHOLDERS_ DEFICIT

STOCKHOLDERS’ DEFICIT	3 Months Ended
	Mar. 31, 2022
Equity [Abstract]
STOCKHOLDERS’ DEFICIT	NOTE 8 – STOCKHOLDERS’ DEFICIT Preferred Stock The Company is authorized to issue 50,000,000 0.001 no Common Stock The Company is authorized to issue up to 100,000,000 0.001 19,153,923 19,153,923 18,937,738

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	3 Months Ended
	Mar. 31, 2022
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 9 – SUBSEQUENT EVENTS We are in the process of seeking regulatory approval for the Company’s acquisitions of AMIC and CRHI shares. Upon approval, we expect the transactions to be completed sometime in 2022.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Estimates	Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, and expenses during the reporting period. On an on-going basis, the Company evaluates its estimates. Actual results and outcomes may differ materially from the estimates as additional information becomes known.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents includes highly liquid instruments with original maturities of three months or less.
Investments	Investments Short-term investments, Fixed maturities and equity securities Short-term investments comprise investments with a maturity greater than three months up to one year from the date of purchase. Short-term investments are carried at fair value, with realized and unrealized gains and losses included in net earnings are reported as net realized and unrealized gains and losses, respectively. Newpoint Financial Corp. Notes to Financial Statements March 31, 2022 and 2021 NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) Investments in debt securities that are bought and held principally for the purpose of selling them in the near term are classified as trading securities. Trading securities are recorded at fair value on the balance sheet in current assets, with the change in fair value during the period included in earnings. Debt securities held as investments that the Company classifies as held-to-maturity securities are recorded at amortized cost, net of a valuation allowance for credit losses. Investments in debt securities not classified as either held-to-maturity or trading securities are classified as available-for-sale securities. Available-for-sale securities are recorded at fair value, with the change in fair value during the period excluded from earnings and recorded net of tax as a component of other comprehensive income. Investments in equity securities are reported at fair value with realized and unrealized gains and losses included in net earnings are reported as net realized and unrealized gains and losses, respectively. If there are no readily determinable fair values, investments in equity securities are measured at cost less impairment.
Valuation allowance for fixed income securities	Valuation allowance for fixed income securities Management evaluates impairment losses for all HTM securities each quarter. The HTM securities are evaluated for potential impairment on investments not measured at fair value through net earnings. An allowance for impairment is derived based on various data sources, multiple key inputs and forecast scenarios. These include default rates specific to the individual security, vintage of the security, geography of the issuer of the security, industry analyst reports, credit ratings and consensus economic forecasts. Securities that meet any one of the criteria included above will be subject to a discounted cash flow analysis by comparing the present value of expected future cash flows with the amortized cost basis. Projected cash flows are driven primarily by assumptions regarding probability of default and the timing and amount of recoveries associated with defaults.
Fair Value of Financial Instruments	Fair Value of Financial Instruments The Company measures certain financial assets and liabilities at fair value based on the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants. The carrying value of cash and cash equivalents and accounts payable approximate their fair value because of the short-term nature of these instruments and their liquidity. Management is of the opinion that the Company is not exposed to significant interest or credit risks arising from these financial instruments.
Income Taxes	Income Taxes Deferred income tax assets and liabilities are determined based on the estimated future tax effects of net operating loss and credit carryforwards and temporary differences between the tax basis of assets and liabilities and their respective financial reporting amounts measured at the current enacted tax rates. The Company records an estimated valuation allowance on its deferred income tax assets if it is not more likely than not that these deferred income tax assets will be realized. The Company recognizes a tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position are measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. As of March 31, 2022 and December 31, 2021, the Company has determined it does not have any uncertain tax positions.
Segment Reporting	Segment Reporting The Company’s business currently operates in one segment. Newpoint Financial Corp. Notes to Financial Statements March 31, 2022 and March 31, 2021 NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
Net Loss per Share	Net Loss per Share The computation of basic net loss per common share is based on the weighted average number of shares that were outstanding during the year. The computation of diluted net loss per common share is based on the weighted average number of shares used in the basic net loss per share calculation plus the number of common shares that would be issued assuming the exercise of all potentially dilutive common shares outstanding using the treasury stock method.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements The Company reviews new accounting standards as issued. Although some of these accounting standards issued or effective after the end of the Company’s previous fiscal year may be applicable to the Company, it has not identified any standards that it believes merit further discussion. The Company does not expect the adoption of any recently issued accounting pronouncements to have a significant impact on its financial position, results of operations, or cash flows.
Related Parties	Related Parties The Company follows subtopic 850-10 of the FASB Accounting Standards Codification for the identification of related parties and disclosure of related party transactions. Pursuant to Section 850-10-20 the related parties include (a) affiliates of the registrant; (b) entities for which investments in their equity securities would be required, absent the election of the fair value option under the Fair Value Option Subsection of Section 825–10–15, to be accounted for by the equity method by the investing entity; (c) trusts for the benefit of employees, such as pension and profit-sharing trusts that are managed by or under the trusteeship of management; (d) principal owners of the Company; (e) management of the Company; (f) other parties with which the Company may deal if one party controls or can significantly influence the management or operating policies of the other to an extent that one of the transacting parties might be prevented from fully pursuing its own separate interests; and (g) Other parties that can significantly influence the management or operating policies of the transacting parties or that have an ownership interest in one of the transacting parties and can significantly influence the other to an extent that one or more of the transacting parties might be prevented from fully pursuing its own separate interests. The financial statements include disclosures of material related party transactions, other than compensation arrangements, expense allowances, and other similar items in the ordinary course of business. However, disclosure of transactions that are eliminated in the preparation of financial statements is not required in those statements. The disclosures shall include: (a) the nature of the relationship(s) involved; (b) description of the transactions, including transactions to which no amounts or nominal amounts were ascribed, for each of the periods for which income statements are presented, and such other information deemed necessary to an understanding of the effects of the transactions on the financial statements; (c) the dollar amounts of transactions for each of the periods for which income statements are presented and the effects of any change in the method of establishing the terms from that used in the preceding period; and (d) amounts due from or to related parties as of the date of each balance sheet presented and, if not otherwise apparent, the terms and manner of settlement.

RELATED PARTY TRANSACTIONS AN_2

RELATED PARTY TRANSACTIONS AND NOTE PAYABLE (Tables)	3 Months Ended
	Mar. 31, 2022
Related Party Transactions [Abstract]
SCHEDULE OF RELATED PARTY TRANSACTION	SCHEDULE OF RELATED PARTY TRANSACTION March 31, 2022 December 31, 2021 Due to Related Parties Newpoint Financial Corp (Wyoming) (1) $ 51,142,466 $ 50,000,000 Newpoint Reinsurance Limited (2) $ 163,500 $ 163,500 Newpoint Capital Limited (3) $ 260,655 $ 68,021 Total $ 51,566,621 $ 50,231,521 (1) Newpoint Financial Corp (a Wyoming corporation), now known as NPFC SPV 1, Inc. entered into an agreement dated December 13, 2021 with the Company as part of the transaction to provide the collateral notes to Novea. In December 2021 the Company entered into a Loan Facility Agreement (the “LFA”) with NPFC SPV I, an entity owned by the Company’s principal stockholders, in connection with the Stock Purchase Agreement between the Company and Novea (see Note 4). The LFA provides total principal of $ 50,000,000 1 1,000,000 142,466 (2) Newpoint Reinsurance Limited registered under the provisions of the Nevis business Corporation 1984 Ordinance, as amended. In December 2021 the Company entered into a Revolving Credit Facility Agreement (the “RCFA”) with Newpoint Reinsurance Company Limited, an entity owned by the Company’s majority shareholder. The RCFA provides for available borrowings up to $ 1,000,000 three years 836,500 163,500 no (3) Newpoint Capital Limited, a company registered in the United Kingdom has provided $ 260,655 167,300

ORGANIZATION AND NATURE OF BU_2

ORGANIZATION AND NATURE OF BUSINESS (Details Narrative)	Jan. 19, 2021	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Entity incorporation, state or country code		DE
Entity incorporation, date of incorporation		Nov. 16, 2005
Equity reverse stock split	500-1 reverse stock split

GOING CONCERN (Details Narrativ

GOING CONCERN (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Interest receivable	$ 4,860
Net income (loss)	172,684	$ 20,924
Accumulated deficit	$ 704,774		$ 532,090

INVESTMENTS (Details Narrative)

INVESTMENTS (Details Narrative) - USD ($)	Dec. 10, 2021	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Shares of common stock value			$ 87,035
Percentage of common stock				10.00%
Debt amont	$ 50,000,000
Amortized cost		$ 50,000,000		$ 50,000,000
Secured Debt [Member]
Debt amont	$ 5,000,000
Common Stock [Member]
Number of shares issued			18,937,738
Shares of common stock value			$ 18,938
Preferred Stock [Member]
Shares of common stock value
Stock Purchase Agreement [Member] | Novea Inc. [Member]
Company acquired shares	500,000
Share issued price per share	$ 100
Number of shares issued	1,251,737			1,251,737
Warrants term	10 years
Percentage of common stock	10.00%
Stock Purchase Agreement [Member] | Novea Inc. [Member] | Maximum [Member]
Warrants to purchase common stock	$ 50,000,000
Stock Purchase Agreement [Member] | Novea Inc. [Member] | Common Stock [Member]
Number of shares issued	2.503474
Stock Purchase Agreement [Member] | Novea Inc. [Member] | Common Stock [Member] | Maximum [Member]
Shares of common stock value	$ 50,000,000
Stock Purchase Agreement [Member] | Novea Inc. [Member] | Preferred Stock [Member]
Number of shares issued	500,000

DEPOSITS (Details Narrative)

DEPOSITS (Details Narrative) - USD ($)	1 Months Ended
	Aug. 31, 2021	Mar. 31, 2022
Newpoint Financial Corp (Wyoming) [Member] | American Millennium Insurance Co [Member]
Defined Benefit Plan Disclosure [Line Items]
Deposit		$ 1,000,000
American Millennium Insurance Co [Member]
Defined Benefit Plan Disclosure [Line Items]
Purchase price percentage	37.50%
American Millennium Insurance Co [Member]
Defined Benefit Plan Disclosure [Line Items]
Share purchase description	We agreed to purchase 3.75% of AMIC’s outstanding shares per year over the course of 10 years for an aggregate total 37.5% of outstanding shares at the end of the term

CREDIT COMMITMENT (Details Narr

CREDIT COMMITMENT (Details Narrative) - Revolving Credit Facility Agreement [Member] - Novea Inc. [Member] - USD ($)	Dec. 10, 2021	Mar. 31, 2022	Dec. 31, 2021
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Debt term	5 years
Line of credit facility commitment amount	$ 5,000,000
Line of credit maximum commitment amount	$ 500,000
Additional borrowing amount		$ 4,669,200	$ 4,836,500
London Interbank Offered Rate (LIBOR) [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Interest rate	5.25%

SCHEDULE OF RELATED PARTY TRANS

SCHEDULE OF RELATED PARTY TRANSACTION (Details) - USD ($)		Mar. 31, 2022	Dec. 31, 2021
Related Party Transaction [Line Items]
Total		$ 51,566,621	$ 50,231,521
Newpoint Financial Corp (Wyoming) [Member]
Related Party Transaction [Line Items]
Total	[1]	51,142,466	50,000,000
Newpoint Reinsurance Limted [Member]
Related Party Transaction [Line Items]
Total	[2]	163,500	163,500
Newpoint Capital Limited [Member]
Related Party Transaction [Line Items]
Total	[3]	$ 260,655	$ 68,021
[1]	Newpoint Financial Corp (a Wyoming corporation), now known as NPFC SPV 1, Inc. entered into an agreement dated December 13, 2021 with the Company as part of the transaction to provide the collateral notes to Novea. In December 2021 the Company entered into a Loan Facility Agreement (the “LFA”) with NPFC SPV I, an entity owned by the Company’s principal stockholders, in connection with the Stock Purchase Agreement between the Company and Novea (see Note 4). The LFA provides total principal of $ 50,000,000 1 1,000,000 142,466
[2]	Newpoint Reinsurance Limited registered under the provisions of the Nevis business Corporation 1984 Ordinance, as amended. In December 2021 the Company entered into a Revolving Credit Facility Agreement (the “RCFA”) with Newpoint Reinsurance Company Limited, an entity owned by the Company’s majority shareholder. The RCFA provides for available borrowings up to $ 1,000,000 three years 836,500 163,500 no
[3]	Newpoint Capital Limited, a company registered in the United Kingdom has provided $ 260,655 167,300

SCHEDULE OF RELATED PARTY TRA_2

SCHEDULE OF RELATED PARTY TRANSACTION (Details) (Parenthetical) - USD ($)		Dec. 10, 2021	Dec. 31, 2021	Mar. 31, 2022
Related Party Transaction [Line Items]
Related party payables			$ 50,231,521	$ 51,566,621
Novea Inc. [Member] | Revolving Credit Facility Agreement [Member]
Related Party Transaction [Line Items]
Maximum borrowing capacity		$ 500,000
Debt term		5 years
Addition available borrowings			4,836,500	4,669,200
Newpoint Financial Corp (Wyoming) [Member]
Related Party Transaction [Line Items]
Related party payables	[1]		$ 50,000,000	51,142,466
Related party transaction rate			1.00%
Interest incurred				142,466
Newpoint Financial Corp (Wyoming) [Member] | American Millennium Insurance Co [Member]
Related Party Transaction [Line Items]
Deposits				1,000,000
Newpoint Reinsurance Limted [Member]
Related Party Transaction [Line Items]
Related party payables	[2]		$ 163,500	163,500
Payment to related party				0
Newpoint Reinsurance Limted [Member] | Revolving Credit Facility Agreement [Member]
Related Party Transaction [Line Items]
Maximum borrowing capacity			$ 1,000,000
Debt term			3 years
Addition available borrowings			$ 836,500	836,500
Newpoint Capital Limited [Member]
Related Party Transaction [Line Items]
Related party payables	[3]		$ 68,021	260,655
Newpoint Capital Limited [Member] | Novea Inc. [Member]
Related Party Transaction [Line Items]
Related party payables				$ 167,300
[1]	Newpoint Financial Corp (a Wyoming corporation), now known as NPFC SPV 1, Inc. entered into an agreement dated December 13, 2021 with the Company as part of the transaction to provide the collateral notes to Novea. In December 2021 the Company entered into a Loan Facility Agreement (the “LFA”) with NPFC SPV I, an entity owned by the Company’s principal stockholders, in connection with the Stock Purchase Agreement between the Company and Novea (see Note 4). The LFA provides total principal of $ 50,000,000 1 1,000,000 142,466
[2]	Newpoint Reinsurance Limited registered under the provisions of the Nevis business Corporation 1984 Ordinance, as amended. In December 2021 the Company entered into a Revolving Credit Facility Agreement (the “RCFA”) with Newpoint Reinsurance Company Limited, an entity owned by the Company’s majority shareholder. The RCFA provides for available borrowings up to $ 1,000,000 three years 836,500 163,500 no
[3]	Newpoint Capital Limited, a company registered in the United Kingdom has provided $ 260,655 167,300

STOCKHOLDERS_ DEFICIT (Details

STOCKHOLDERS’ DEFICIT (Details Narrative) - $ / shares	3 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Accumulated Other Comprehensive Income (Loss) [Line Items]
Preferred stock, shares authorized	50,000,000	50,000,000
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, shares authorized	100,000,000	100,000,000
Common stock, par value	$ 0.001	$ 0.001
Number of shares issued	19,153,923	216,185
Number of shares outstanding	19,153,923
Shares issued to settle related party liabilities	18,937,738
Common Stock [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Number of shares issued		19,153,923
Number of shares outstanding		19,153,923