Corporate Universe (COUV) 10-Q/A 18 Oct 22 2022 Q1 Quarterly report (amended) Financial data

Cover

Cover - shares	3 Months Ended
	Mar. 31, 2022	Oct. 14, 2022
Cover [Abstract]
Entity Registrant Name	CORPORATE UNIVERSE, INC.
Entity Central Index Key	0001450307
Document Type	10-Q/A
Amendment Flag	true
Current Fiscal Year End Date	--12-31
Entity Small Business	true
Entity Shell Company	false
Entity Emerging Growth Company	false
Entity Current Reporting Status	Yes
Document Period End Date	Mar. 31, 2022
Entity Filer Category	Non-accelerated Filer
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2022
Entity Common Stock Shares Outstanding		559,974,670
Document Quarterly Report	true
Entity File Number	024-10228
Entity Incorporation State Country Code	DE
Entity Tax Identification Number	85-2005645
Entity Interactive Data Current	Yes
Entity Address Address Line 1	2093 Philadelphia Pike #8334
Entity Address City Or Town	Claymont
Entity Address State Or Province	DE
City Area Code	302
Local Phone Number	273-1150
Entity Address Postal Zip Code	19703
Document Transition Report	false
Amendment Description	Corporate Universe, Inc. (the “Company”) is filing this Amendment No. 1 on Form 10-K/A (“Amendment”) to its Quarterly Report on Form 10-Q for the period ended March 31, 2022, as originally filed with the Securities and Exchange Commission on October 14, 2022 (the “Original Filing”), solely to (i) update the date on the cover page for the Company’s outstanding shares of its common stock to October 14, 2022 and (ii) to date the signature page and the Exhibits 31 and 32 certifications as the signature page and the certifications were undated in the Original Filing.

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)	Mar. 31, 2022	Dec. 31, 2021
CURRENT ASSETS
Cash	$ 44,063	$ 3,208
Inventory	111,792	114,487
Prepaid expenses	24,830	78,981
Value added tax receivable	22,868	0
Income tax credits receivable	649,539	590,132
TOTAL CURRENT ASSETS	853,092	786,808
FIXED ASSETS
Property and equipment	227,428	187,156
TOTAL FIXED ASSETS	227,428	187,156
OTHER ASSETS
Intellectual property, net of impairment	657,018	613,024
Security deposits	53,192	54,474
Right-of-use assets, net of accumulated amortization	460,754	490,181
TOTAL OTHER ASSETS	1,170,964	1,157,679
TOTAL ASSETS	2,251,484	2,131,643
CURRENT LIABILITIES
Accounts payable and accrued expenses	901,370	1,173,307
Payroll taxes payable	330,822	398,299
Due to stockholders	85,789	5,859
Note payable related party	585,000	585,000
Notes payable	75,000	70,039
Current portion of operating lease liabilities	124,514	107,915
TOTAL CURRENT LIABILITIES	2,102,495	2,340,419
Operating lease liabilities, net of current portion	366,573	401,224
TOTAL LIABILITIES	2,469,068	2,741,643
STOCKHOLDERS' DEFICIT
Common stock, $.0001 par value, 2,500,000,000 shares authorized, 558,349,670 and 533,549,670 shares issued and outstanding at March 31, 2022 and December 31, 2021, respectively	55,835	53,355
Additional paid-in-capital	3,289,447	2,292,427
Accumulated deficit	(3,536,109)	(2,976,773)
Cumulative translation adjustment	(26,785)	20,963
TOTAL STOCKHOLDERS' DEFICIT	(217,584)	(610,000)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	2,251,484	2,131,643
Series E Preferred Stock [Member]
STOCKHOLDERS' DEFICIT
Series E: 81,100 authorized, 81,032 issued and outstanding	8	8
Series F Preferred Stock [Member]
STOCKHOLDERS' DEFICIT
Series E: 81,100 authorized, 81,032 issued and outstanding	10	10
Series G Preferred Stock [Member]
STOCKHOLDERS' DEFICIT
Series E: 81,100 authorized, 81,032 issued and outstanding	0	0
Series C Preferred Stock [Member]
STOCKHOLDERS' DEFICIT
Series E: 81,100 authorized, 81,032 issued and outstanding	0	0
Series D Preferred Stock [Member]
STOCKHOLDERS' DEFICIT
Series E: 81,100 authorized, 81,032 issued and outstanding	$ 10	$ 10

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2022	Dec. 31, 2021
Stockholders' Equity
Common stock, shares par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	2,500,000,000	2,500,000,000
Common stock, shares issued	558,349,670	533,549,670
Common stock, shares outstanding	558,349,670	533,549,670
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	1,000,000	1,000,000
Series E Preferred Stock [Member]
Stockholders' Equity
Preferred stock, shares authorized	81,100	81,100
Preferred stock, shares issued	81,032	81,032
Preferred stock, shares outstanding	81,032	81,032
Series F Preferred Stock [Member]
Stockholders' Equity
Preferred stock, shares authorized	100,000	100,000
Preferred stock, shares issued	100,000	100,000
Preferred stock, shares outstanding	100,000	100,000
Series C Preferred Stock [Member]
Stockholders' Equity
Preferred stock, shares authorized	100,000	100,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Series D Preferred Stock [Member]
Stockholders' Equity
Preferred stock, shares authorized	100,000	100,000
Preferred stock, shares issued	100,000	100,000
Preferred stock, shares outstanding	100,000	100,000
Series G Preferred Stock [Member]
Stockholders' Equity
Preferred stock, shares authorized	25	25
Preferred stock, shares issued	20	20
Preferred stock, shares outstanding	20	0

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
SALES	$ 0	$ 0
COST OF SALES	0	0
GROSS PROFIT	0	0
OPERATING EXPENSES
Officers' salaries	170,225	0
Salaries and wages	162,165	247,425
Management fee	7,500	0
Payroll taxes	37,263	33,706
Legal and professional fees	161,455	272,835
General and administrative expenses	91,348	28,625
TOTAL OPERATING EXPENSES	629,956	582,591
OPERATING LOSS	(629,956)	(582,591)
OTHER INCOME (EXPENSES)
Interest expense	(2,743)	(9,589)
LOSS BEFORE INCOME TAX CREDITS	(632,699)	(592,180)
Income tax credits	73,363	103,043
NET LOSS	(559,336)	(489,137)
OTHER COMPREHENSIVE INCOME (LOSS)
Foreign currency translation adjustment	29,310	(11,750)
COMPREHENSIVE LOSS	$ (530,026)	$ (500,887)
LOSS PER COMMON SHARE:
Basic and diluted	$ 0	$ (0.01)
WEIGHTED AVERAGE NUMBER OF COMMON SHARES:
Basic and diluted	545,949,670	100,000,000

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' DEFICIT - USD ($)	Total	Preferred Stock	Additional Paid-In Capital	Retained Earnings (Accumulated Deficit)	Cumulative Translation Adjustment	Common Stock
Balance, shares at Dec. 31, 2020		100,000				100,000,000
Balance, amount at Dec. 31, 2020	$ (17,554)	$ 10	$ 379,357	$ (400,231)	$ (6,690)	$ 10,000
Stockholder loans reclassified	162,975	0	162,975	0	0	0
Foreign currency translation adjustment	383	0	0	0	383	0
Net loss	(489,137)	$ 0	0	(489,137)	0	$ 0
Balance, shares at Mar. 31, 2021		100,000				100,000,000
Balance, amount at Mar. 31, 2021	(343,333)	$ 10	542,332	(889,368)	(6,307)	$ 10,000
Balance, shares at Dec. 31, 2021		281,052				533,549,670
Balance, amount at Dec. 31, 2021	(610,000)	$ 28	2,292,427	(2,976,773)	20,963	$ 53,355
Foreign currency translation adjustment	(47,748)	0	0	0	(47,748)	0
Net loss	(559,336)	0	0	(559,336)	0	$ 0
Issuance of common stock, shares						24,800,000
Issuance of common stock, amount	992,000	0	989,520	0	0	$ 2,480
Issuance of Series G preferred stock	7,500	$ 0	7,500	0	0	$ 0
Balance, shares at Mar. 31, 2022		281,052				558,349,670
Balance, amount at Mar. 31, 2022	$ (217,584)	$ 28	$ 3,289,447	$ (3,536,109)	$ (26,785)	$ 55,835

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Cash flows from operating activities:
Net loss	$ (559,336)	$ (489,137)
Adjustments to reconcile net loss to net cash used in operating activities:
Amortization of right-of-use assets	29,427	0
Changes in operating assets and liabilities:
Inventory	2,695	(1,131)
Prepaid expenses	54,151	29,364
Value added tax receivable	(22,868)	0
Income tax credits receivable	(59,407)	(104,493)
COVID-19 furlough support	0	29,561
Accounts payable and accrued expenses	(271,937)	214,699
Security deposit	1,282	0
Payroll taxes payable	(67,477)	130,347
Net cash used in operating activities	(893,470)	(190,790)
Cash flows from investing activities:
Acquisition of property and equipment	(40,272)	(1,696)
Addition to intellectual property	(43,994)	(109,017)
Net cash used in investing activities	(84,266)	(110,713)
Cash flows from financing activities:
Principal payments on operating lease obligations	18,052	0
Proceeds from (repayments of) loan obligation	0	(191,268)
Advances from (repayments to) stockholders	79,930	116,316
Proceeds from (payments of) convertible notes	0	410,324
Proceeds from notes payable	4,961	692
Proceeds from the issuance of common stock	992,000	0
Proceeds from the issuance of preferred stock	7,500	0
Net cash provided by financing activities	1,066,339	336,064
Effect of exchange rate changes on cash	(47,748)	383
Net change in cash	40,855	34,944
Cash at beginning of the year	3,208	7,513
Cash at end of the year	44,063	42,457
Non-cash investing and financing activities:
Stockholder loans reclassified to additional paid-in capital in exchange for equity	0	162,975
Cash paid during the year for:
Interest	0	0
Income taxes	$ 0	$ 0

Organization and Business Descr

Organization and Business Description	3 Months Ended
	Mar. 31, 2022
Organization and Business Description
Organization and Business Description	(1) Organization and Business Description Corporate Universe, Inc. (“COUV”) was incorporated in Delaware on May 28, 1986. On July 17, 2020, the Company changed its name from Carrier Alliance Group Inc. to Corporate Universe, Inc. The accompanying consolidated financial statements include COUV and its wholly-owned subsidiary Carbon-Ion Energy, Inc. (“CIE”), which includes its wholly owned subsidiary Oxcion Limited (“OXC”) (collectively, the “Company”). CIE was incorporated under the laws of the State of Delaware on December 29, 2020 and operates as a holding company for OXC, which was incorporated under the laws of England and Wales on February 20, 2009. OXC operated as a business consulting entity until December 31, 2020. Effective March 11, 2021, OXC became a wholly-owned subsidiary of CIE pursuant to a share exchange agreement whereby the existing stockholders of OXC received the same pro-rata equity interests in CIE. Going forward, OXC plans to market its patented super capacitor technology to customers worldwide. Effective November 12, 2021, CIE became a wholly-owned subsidiary of COUV pursuant to a share exchange agreement whereby the existing stockholders of CIE obtained control of COUV. The transaction was accounted for as a change in control with COUV being considered the accounting acquired company and CIE being considered the accounting acquirer. The fiscal year end of the consolidated Company is December 31st.

Summary of significant accounti

Summary of significant accounting policies	3 Months Ended
	Mar. 31, 2022
Summary of significant accounting policies
Summary of significant accounting policies	(2) Summary of Significant Accounting Policies Basis of Presentation and Consolidation The accompanying consolidated financial statements have been prepared on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). All intercompany balances and transactions have been eliminated in consolidation. Use of Estimates The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Cash For financial statement presentation purposes, the Company considers all short-term investments with an original maturity date of three months or less to be cash equivalents. Inventory Inventory, which consists substantially of raw materials, is stated at the lower of cost (first-in, first-out basis) or market (net realizable value). The inventory is valued at the end of each fiscal period for the purpose of determining if a reserve for obsolescence needs to be recorded. There is no reserve for obsolescence as of March 31, 2022 and December 31, 2021. Property and Equipment Property and equipment is stated at cost. Maintenance and repairs are expensed as incurred. Upon sale or disposition of assets, any gain or loss is included in the statement of operations. The cost of property and equipment is depreciated using the straight line method over the estimated useful lives of the assets when placed in service, which range from three to seven years. Income Taxes The Company has adopted Financial Accounting Standards Board (“FASB”) Account Standards Codification (“ASC”) 740-10, “ Accounting for Income Taxes The Company recognizes the effect of income tax positions only if those positions are more likely than not of being sustained. Recognized income tax positions are measured at the largest amount that is greater than 50% likely of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. The Company records interest and penalties related to unrecognized tax benefits as a component of general and administrative expenses. The Company’s federal tax return and any state tax returns are not currently under examination. OXC accrues research and development (“R&D”) tax credits payable by the HM Revenue and Customs (“HMRC”) in England based on 14.50% of qualified R&D payroll costs. OXC, at its sole discretion, can elect to forego the tax credit and carryforward the qualified R&D payroll costs to offset future taxable income in the England. Intellectual Property The Company’s intangible assets consist of patents on its technology, recorded at cost. Cost is based on third party expenditures for patent acquisitions and applications. OXC will begin amortizing the intangibles over their estimated remaining useful life when it begins revenue-producing activities. OXC will determine the useful lives of its intangible assets after considering the specific facts and circumstances related to each intangible asset. Factors that will be considered when determining useful lives include the contractual term of any agreement related to the asset, the historical performance of the asset, the long-term strategy for using the asset, any laws or other local regulations that could impact the useful life of the asset, and other economic factors, including competition and specific market conditions. Impairment of Long-lived Assets Potential impairments of long-lived assets are reviewed when events or changes in circumstances indicate a potential impairment may exist. In accordance with ASC 360-10, “ Property, Plant and Equipment – Overall, Revenue Recognition The Company recognizes revenue in accordance with FASB ASC 606, “ Revenue from contracts with customers The Company only applies the five-step model to contracts when it is probable that the entity will collect the consideration it is entitled to in exchange for the goods or services it transfers to the customer. Once a contract is determined to be within the scope of FASB ASC 606 at contract inception, the Company reviews the contract to determine which performance obligations the Company must deliver and which of these performance obligations are distinct. The Company expects to recognize revenues as the amount of the transaction price that is allocated to the respective performance obligation when the performance obligation is satisfied or as it is satisfied. Stock Based Compensation Expense The Company records stock-based compensation in accordance with the provisions of FASB ASC 718, “ Accounting for Stock Compensation Convertible Debentures If the conversion features of conventional convertible debt provide for a rate of conversion that is below market value at issuance, this feature is characterized as a beneficial conversion feature (“BCF”). A BCF is recorded by the Company as a debt discount pursuant to FASB ASC 470-20 “ Debt with Conversion and Other Options Leases The Company accounts for leases in accordance with FASB ASC 842, “ Leases As permitted under FASB ASC 842, the Company has made an accounting policy election not to apply the recognition provisions to short term leases (leases with a lease term of 12 months or less that do not include an option to purchase the underlying asset that the lessee is reasonably certain to exercise); instead, the Company will recognize the lease payments for short term leases on a straight-line basis over the lease term. The Company did not have any short-term leases at March 31, 2022 and December 31, 2021. Foreign Currency Translation Assets and liabilities of CIE’s U.K. subsidiary are translated from pounds sterling to United States dollars at the exchange rate in effect at the consolidated balance sheet date. Income and expenses are translated at average exchange rates during the year. The translation adjustment for the reporting period is included in the Company’s consolidated statements of operations and comprehensive loss, and the cumulative effect of these adjustments are reported in the Company’s consolidated balance sheets as a cumulative translation adjustment within stockholders’ deficit. Net Income (Loss) Per Common Share The Company computes loss per common share, in accordance with FASB ASC 260, ” Earnings Per Share Recent Accounting Pronouncements The Company has implemented all new accounting pronouncements that are in effect. These pronouncements did not have any material impact on the consolidated financial statements unless otherwise disclosed, and the Company 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	3 Months Ended
	Mar. 31, 2022
Going concern
Going concern	(3) Going Concern As of March 31, 2022, the Company has accumulated operating losses of $3,536,109, has yet to commence operations and has no product sales related to its patented battery storage technology that was acquired on September 11, 2020, all of which raise substantial doubt about its ability to continue as a going concern. The consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty. However, the Company is currently addressing its liquidity issues by continually seeking investment capital through private placement of common stock and debt. Issuances of additional shares will result in dilution to existing stockholders. There is no assurance that the Company will be able to complete any additional sales of equity securities or be able to arrange for other financing to fund planned business activities.

Property and Equipment

Property and Equipment	3 Months Ended
	Mar. 31, 2022
Property and Equipment
Property and Equipment	(4) Property and Equipment Property and equipment consisted of the following as of March 31, 2022 and December 31, 2021: Laboratory equipment $ 227,428 Total $ 227,428 Property and equipment has not been placed in service and, as such, there was no depreciation expense for the three months ended March 31, 2022 and 2021.

Intellectual Property

Intellectual Property	3 Months Ended
	Mar. 31, 2022
Intellectual Property
Intellectual Property	(5) Intellectual Property Intellectual property at March 31, 2022 in the amount of $657,018 is net of a $33,412 impairment. The intellectual property includes various super capacitor technology patents that were acquired on September 11, 2020 for $309,783 as part of the ZapGo Ltd (“ZapGo”) acquisition, plus $380,647 of legal fees subsequently incurred directly related to these patents and additional patent applications. The Company has deferred amortizing the intellectual property until it begins revenue operations in order to more accurately match the expense with the revenue. As such, there was no amortization expense for the three months ended March 31, 2022 and 2021.

Operating Lease RightofUse Asse

Operating Lease RightofUse Assets and Operating Lease Liabilities	3 Months Ended
	Mar. 31, 2022
Operating Lease RightofUse Assets and Operating Lease Liabilities
Operating Lease Right-of-Use Assets and Operating Lease Liabilities	(6) Operating Lease Right-of-Use Assets and Operating Lease Liabilities OXC entered into two third-party lease agreements for laboratory equipment. Both leases commenced on May 5, 2021, with one through April 5, 2023 and the other through May 5, 2023, with monthly rental payments of $1,221 and $605, respectively. In July 2021, OXC executed a thirty-six month non-cancellable operating lease for laboratory equipment. Monthly payments are approximately $4,600, including VAT, beginning August 1, 2021 through July 31, 2024. On August 2, 2021, OXC entered into a five year non-cancellable operating lease for laboratory space in Oxfordshire, England. The cost of this space is an average monthly rent of approximately $8,500 over the lease term, including VAT, plus utilities and a pro- rated share of any joint charges as reasonably determined by the landlord. Operating lease right-of-use assets and liabilities are recognized at the present value of the future lease payments at the lease commencement date. The interest rate used to determine the present value is the Company’s incremental borrowing rate, estimated to be 10%, as the interest rate implicit in most of the Company’s leases is not readily determinable. Operating lease expense is recognized on a straight-line basis over the lease term. For the three months ended March 31, 2022, the Company recorded $41,753 as operating lease expense for these four leases, which is included in general and administrative expenses on the consolidated statements of operations and comprehensive loss. Right-of-use assets are summarized as follows: March 31, 2022 December 31, 2021 Operating leases $ 545,602 $ 545,602 Less: accumulated amortization (84,848 ) (55,421 ) Right-of-use assets, net $ 460,754 $ 490,181 Operating lease liabilities are summarized as follows: March 31, 2022 December 31, 2021 Operating leases $ 491,087 $ 509,139 Less: current portion (124,514 ) (107,915 ) Long-term portion $ 366,573 $ 401,224 Maturity of lease liabilities for the fiscal periods ending March 31 st 2023 $ 167,012 2024 156,631 2025 120,450 2026 109,200 2027 36,400 Total 589,693 Less: imputed interest (98,606 ) Lease liabilities $ 491,087

Payroll Taxes Payable

Payroll Taxes Payable	3 Months Ended
	Mar. 31, 2022
Payroll Taxes Payable
Payroll Taxes Payable	(7) Payroll Taxes Payable On August 27, 2021, OXC entered into an installment payment arrangement with the HM Revenue & Customs (“HMRC”) in England for the payroll taxes balance due of $364,538 at June 30, 2021 plus approximately $54,600 for the July payroll tax liability. Payments are to be made in five monthly installments of approximately $76,120 beginning in October 2021 with the final installment due in March 2022 of approximately $38,600 plus any interest that will be due. This final balance was not paid when due and, as such, was added to the additional installment payment arrangement with the HMRC dated April 2, 2022.

Due To Stockholders

Due To Stockholders	3 Months Ended
	Mar. 31, 2022
Due To Stockholders
Due To Stockholders	(8) Due to Stockholders The balance at March 31, 2022 and December 31, 2021 of $85,789 and $5,859, respectively, represents monies advanced to the Company by two stockholders, who are also officers, for working capital purposes. These amounts are unsecured, non-interest bearing and payable upon demand. As such, these balances have been classified as a current liability.

Note Payable Related Party

Note Payable Related Party	3 Months Ended
	Mar. 31, 2022
Note Payable Related Party
Note Payable Related Party	(9) Note Payable Related Party On December 31, 2021, OXC executed a promissory note with an entity that is beneficially owned and controlled by the President of the Company, who is also a director and stockholder, in the amount of $585,000. This note is unsecured, accrues interest at a rate of 1.9% per annum and it is payable on demand. As such, this balance has been classified as a current liability at March 31, 2022.

Notes Payable

Notes Payable	3 Months Ended
	Mar. 31, 2022
Notes Payable
Notes Payable	(10) Notes Payable On February 16, 2022, CIE received $75,000 pursuant to an additional promissory note with an unrelated party for working capital purposes. This note accrues interest at a rate of 3% per annum, is unsecured and is payable on demand. As such, this balance has been classified as a current liability at March 31, 2022. The $70,039 balance at December 31, 2021 was repaid during the quarter ended March 31, 2022.

Equity

Equity	3 Months Ended
	Mar. 31, 2022
Equity
Equity	(11) Equity Preferred Stock The Company has 1,000,000 Shares of Preferred Stock authorized with a par value of $0.0001. The Company has allocated 100,000 Shares for Series C Preferred, 100,000 Shares for Series D Preferred, 81,100 Shares for Series E Preferred, 100,000 Shares for Series F Preferred and 25 Shares for Series G Preferred. On January 10, 2022, the Company sold and issued .075 shares of Series G Convertible Preferred Stock at $100,000 per share for a total of $7,500. Series E · Convertible at option of holder; 1 preferred share is convertible into 1,000 common shares · The holders are entitled to receive dividends if and when declared. · The Series E holders are entitled to receive liquidation in preference to the common holders or any other class or series of preferred stock. · Voting: The Series E holders are entitled to vote together with the common holders as a single class representing 100 votes. Series F · Convertible at option of holder; 1 preferred share is convertible into $0.25 per share (4,000,000 common shares) · The holders are entitled to receive dividends if and when declared. · The Series F holders are entitled to receive liquidation in preference to the common holders but not above the Series E preferred stock. · Voting: The Series F holders are entitled to vote together with the common holders as a single class representing 100 votes. Series G · Each share is convertible at option of holder into 4,000,000 common shares · The holders are entitled to receive dividends if and when declared. · The Series G holders are entitled to receive liquidation in preference to the common holders and any subsequent issuances of preferred stock. · Voting: Each share of the Series G holders is entitled to 4,000,000 votes on all matters before the common stock shareholders. Series C · Convertible into common upon the Company completing a reverse stock split upon which the amount converted will equal 20% of the issued and outstanding common shares per the reverse split. · The holders are entitled to receive dividends on par with common on an as converted basis. · In the event of reorganization this Class of Preferred will not be affected by any such capital reorganization. · Voting: The holder of this Series of Preferred shall be entitled to vote representing 20% of the votes eligible to be cast in the matter. Series D · Each share is convertible at option of holder into 12,938 common shares · Voting: Each share of the Series D holders is entitled to 12,938 votes on all matters before the common stock shareholders. The Company has evaluated each series of the Preferred Stock for proper classification under FASB ASC 480 “ Distinguishing Liabilities from Equity Derivatives and Hedging FASB ASC 480 generally requires liability classification for financial instruments that are certain to be redeemed, represent obligations to purchase shares of stock or represent obligations to issue a variable number of common shares. The Company concluded that each series of Preferred Stock was not within the scope of ASC 480 because none of the three conditions for liability classification was present. FASB ASC 815 generally requires an analysis of embedded terms and features that have characteristics of derivatives to be evaluated for bifurcation and separate accounting in instances where their economic risks and characteristics are not clearly and closely related to the risks of the host contract. However, in order to perform this analysis, the Company was first required to evaluate the economic risks and characteristics of each series of the Preferred Stock in its entirety as being either akin to equity or akin to debt. The Company’s evaluation concluded that each series of Preferred Stock was more akin to an equity-like contract largely due to the fact the financial instrument is not mandatorily redeemable for cash and the holders are not entitled to any dividends. Other features of the Preferred Stock that operate like equity, such as the conversion option and voting feature, afforded more evidence, in the Company’s view, that the instrument is more akin to equity. As a result, the embedded conversion features are clearly and closely related to their equity host instruments. Therefore, the embedded conversion features do not require bifurcation and classification as derivative liabilities. Common Stock The Company has 2,500,000,000 Shares of Common Stock authorized with a par value of $0.0001. As of March 31, 2022 and December 31, 2021 there are 558,349,670 and 533,549,670 shares issued and outstanding, respectively. From January 1, 2022 through March 31, 2022, the Company sold and issued 24,800,000 shares of restricted common stock to unrelated third parties in a series of private placements for $0.04 per share totaling $992,000.

Income Tax Credits

Income Tax Credits	3 Months Ended
	Mar. 31, 2022
Income Tax Credits
Income Taxes	(12) Income Tax Credits The Company adopted the provisions of uncertain tax positions as addressed in FASB ASC 740-10-65-1. As a result of the implementation of FASB ASC 740-10-65-1, the Company recognized no increase in the liability for unrecognized tax benefits. As of March 31, 2022, the Company had net operating loss carry forwards of $3,512,081 that may be available to reduce future years’ taxable income in varying amounts through 2036. Future tax benefits which may arise as a result of these losses have not been recognized in these consolidated financial statements, as their realization is determined not likely to occur and, accordingly, the Company has recorded a full valuation allowance equal to the deferred tax asset relating to these tax loss carry-forwards of approximately $740,000 and $625,000 as March 31, 2022 and December 31, 2021, respectively. The Company periodically evaluates the likelihood of the realization of deferred tax assets, and adjusts the carrying amount of the deferred tax assets by the valuation allowance to the extent the future realization of the deferred tax assets is not judged to be more likely than not. The Company considers many factors when assessing the likelihood of future realization of its deferred tax assets, including its recent cumulative earnings experience by taxing jurisdiction, expectations of future taxable income or loss, the carryforward periods available to the Company for tax reporting purposes, and other relevant factors. Future changes in the unrecognized tax benefit will have no impact on the effective tax rate due to the existence of the valuation allowance. The Company estimates that the unrecognized tax benefit will not change significantly within the next twelve months. The Company will continue to classify income tax penalties and interest as part of general and administrative expense in its consolidated statements of operations and comprehensive loss. There were no interest or penalties accrued as of March 31, 2022 and December 31, 2021. The R&D income tax credits for the three months ended March 31, 2022 and 2021 were $73,363 and $103,043, respectively. The balance due from the HMRC for these R&D income tax credits as of March 31, 2022 and December 31, 2021 was $649,539 and $590,132, respectively.

Commitments and contingencies

Commitments and contingencies	3 Months Ended
	Mar. 31, 2022
Commitments and contingencies
Commitments and contingencies	(13) Commitments and Contingencies During the normal course of business, the Company may be exposed to litigation. When the Company becomes aware of potential litigation, it evaluates the merits of the case in accordance with FASB ASC 450-20-50, “ Contingencies” On March 31, 2021, CIE entered into an employment agreement with the Chief Executive Officer (“CEO”), who is also a director, for an initial term of one year with a base salary of $465,000 per annum paid in equal monthly installments, less applicable withholdings and deductions as required by law. The Company shall review the base salary on an annual basis and has the right, but not the obligation to increase it, but has no right to decrease the base salary. This agreement automatically extends for additional terms of one year unless either party gives at least six months prior written notice of non- renewal during the initial term or the then current renewal term. In addition, the CEO is entitled to receive an annual bonus up to $400,000 if the Company meets or exceeds criteria adopted by the Compensation Committee of the Board of Directors. On April 12, 2021, CIE entered into an employment agreement with the Chief Financial Officer (“CFO”) who is also a director, for an initial term of one year with a base salary of $250,000 per annum paid in equal monthly installments, less applicable withholdings and deductions as required by law. The Company is also obligated to increase the base salary on an annual basis between $15,000 and $30,000 at the discretion of the Compensation Committee of the Board of Directors. The CFO is also entitled to receive a car allowance of $1,000 per month and five weeks paid vacation per year. This agreement automatically extends for additional terms of one year unless either party gives at least six months prior written notice of non-renewal during the initial term or the then current renewal term. In addition, the CFO is entitled to receive an annual bonus determined by the Compensation Committee of the Board of Directors. On February 23, 2022, OXC formally settled a legal dispute with the two former executives and directors of ZapGo Limited for compensation obligations post acquisition and agreed to an Ex Gratia Payment of $121,221 each. The total balances of $126,259 and $242,442 were included in accounts payable and accrued expenses on the consolidated balance sheets as of March 31, 2022 and December 31, 2021, respectively. The total balance of $242,442 was accrued and recorded in salaries and wages on the consolidated statements of operations and comprehensive loss for the year ended December 31, 2021.

Concentration of credit risks

Concentration of credit risks	3 Months Ended
	Mar. 31, 2022
Concentration of credit risks
Concentration of credit risks	(14) Concentration of Credit Risk The Company maintains cash balances in interest and non-interest bearing bank accounts, none of which exceeded federally insured limits as of March 31, 2022. The Company has not experienced any losses in any of its accounts and management believes not to be exposed to any significant credit risk on cash.

Subsequent events

Subsequent events	3 Months Ended
	Mar. 31, 2022
Subsequent events
Subsequent events	(15) Subsequent Events On April 2, 2022, OXC entered into an additional installment payment arrangement with HM Revenue & Customs in England for payroll taxes liabilities of approximately $277,000, including the $38,600 balance due from the previous installment payment arrangement. Payments were to be in made in four monthly installments of approximately $69,250 each beginning in May 2022 through August 2022, but were put on hold while the R&D income tax credits through March 31, 2022 were being processed by the HM Revenue & Customs. Although the R&D income tax credits were finalized and remitted to OXC on August 24, 2022, an updated installment payment arrangement has yet to be established with HM Revenue & Customs. On April 9, 2022, CIE received $250,000 pursuant to a promissory note dated March 6, 2022 with an unrelated party and an original principal amount of $275,000. This note accrues interest at a rate of 15% per annum and is payable on September 6, 2022. This note was not repaid on September 6, 2022 and is currently in default. However, the note holder has agreed to extend the maturity date to March 5, 2023. From May 3, 2022 through September 22, 2022, the Company sold 4,750,000 shares of restricted common stock to unrelated third parties in a series of private placements for $0.04 per share totaling $190,000. On June 19, 2022, the former CEO of COUV agreed to return 10,000,000 of the 15,600,000 shares of the Company’s common stock he received related to the investment in Medicevo in 2020 and the subsequent impairment of that investment as of June 30, 2021. On June 28, 2022, CIE received $125,000 pursuant to a promissory note with an unrelated party. This note accrues interest at a rate of 15% per annum and is payable on June 28, 2023. As of September 22, 2022, CIE has raised gross proceeds of $175,000 related to a private placement offering of convertible notes that expires on December 31, 2022. Each note accrues interest at a rate of 10% per annum and matures on June 15, 2024. The maximum offering is $7,000,000 and requires a minimum investment of $5,000 from only accredited investors. Each note provides its holder the right to acquire certain shares of CIE’s Equity Securities based on a future qualified financing. Each note will convert into shares of Equity Securities at a discount of twenty percent (20%) off the cash price paid per share for the Equity Securities by the new investors in the qualified financing. Management has evaluated subsequent events through October 11, 2022, the date the consolidated financial statements were available to be issued, and has determined that there are no other events that would require an adjustment to, or disclosure in, the consolidated financial statements as of March 31, 2022.

Summary of significant accoun_2

Summary of significant accounting policies (Policies)	3 Months Ended
	Mar. 31, 2022
Summary of significant accounting policies
Basis of Presentation and Consolidation	The accompanying consolidated financial statements have been prepared on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). All intercompany balances and transactions have been eliminated in consolidation.
Use of Estimates	The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Cash	For financial statement presentation purposes, the Company considers all short-term investments with an original maturity date of three months or less to be cash equivalents.
Inventory	Inventory, which consists substantially of raw materials, is stated at the lower of cost (first-in, first-out basis) or market (net realizable value). The inventory is valued at the end of each fiscal period for the purpose of determining if a reserve for obsolescence needs to be recorded. There is no reserve for obsolescence as of March 31, 2022 and December 31, 2021.
Property and Equipment	Property and equipment is stated at cost. Maintenance and repairs are expensed as incurred. Upon sale or disposition of assets, any gain or loss is included in the statement of operations. The cost of property and equipment is depreciated using the straight line method over the estimated useful lives of the assets when placed in service, which range from three to seven years.
Income Taxes	The Company has adopted Financial Accounting Standards Board (“FASB”) Account Standards Codification (“ASC”) 740-10, “ Accounting for Income Taxes The Company recognizes the effect of income tax positions only if those positions are more likely than not of being sustained. Recognized income tax positions are measured at the largest amount that is greater than 50% likely of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. The Company records interest and penalties related to unrecognized tax benefits as a component of general and administrative expenses. The Company’s federal tax return and any state tax returns are not currently under examination. OXC accrues research and development (“R&D”) tax credits payable by the HM Revenue and Customs (“HMRC”) in England based on 14.50% of qualified R&D payroll costs. OXC, at its sole discretion, can elect to forego the tax credit and carryforward the qualified R&D payroll costs to offset future taxable income in the England.
Intellectual Property	The Company’s intangible assets consist of patents on its technology, recorded at cost. Cost is based on third party expenditures for patent acquisitions and applications. OXC will begin amortizing the intangibles over their estimated remaining useful life when it begins revenue-producing activities. OXC will determine the useful lives of its intangible assets after considering the specific facts and circumstances related to each intangible asset. Factors that will be considered when determining useful lives include the contractual term of any agreement related to the asset, the historical performance of the asset, the long-term strategy for using the asset, any laws or other local regulations that could impact the useful life of the asset, and other economic factors, including competition and specific market conditions.
Impaitrment of Long-lived Assets	Potential impairments of long-lived assets are reviewed when events or changes in circumstances indicate a potential impairment may exist. In accordance with ASC 360-10, “ Property, Plant and Equipment – Overall,
Revenue Recognition	The Company recognizes revenue in accordance with FASB ASC 606, “ Revenue from contracts with customers The Company only applies the five-step model to contracts when it is probable that the entity will collect the consideration it is entitled to in exchange for the goods or services it transfers to the customer. Once a contract is determined to be within the scope of FASB ASC 606 at contract inception, the Company reviews the contract to determine which performance obligations the Company must deliver and which of these performance obligations are distinct. The Company expects to recognize revenues as the amount of the transaction price that is allocated to the respective performance obligation when the performance obligation is satisfied or as it is satisfied.
Stock Based Compensation Expenses	The Company records stock-based compensation in accordance with the provisions of FASB ASC 718, “ Accounting for Stock Compensation
Convertible Debentures	If the conversion features of conventional convertible debt provide for a rate of conversion that is below market value at issuance, this feature is characterized as a beneficial conversion feature (“BCF”). A BCF is recorded by the Company as a debt discount pursuant to FASB ASC 470-20 “ Debt with Conversion and Other Options
Leases	The Company accounts for leases in accordance with FASB ASC 842, “ Leases As permitted under FASB ASC 842, the Company has made an accounting policy election not to apply the recognition provisions to short term leases (leases with a lease term of 12 months or less that do not include an option to purchase the underlying asset that the lessee is reasonably certain to exercise); instead, the Company will recognize the lease payments for short term leases on a straight-line basis over the lease term. The Company did not have any short-term leases at March 31, 2022 and December 31, 2021.
Foreign Currency Translation	Assets and liabilities of CIE’s U.K. subsidiary are translated from pounds sterling to United States dollars at the exchange rate in effect at the consolidated balance sheet date. Income and expenses are translated at average exchange rates during the year. The translation adjustment for the reporting period is included in the Company’s consolidated statements of operations and comprehensive loss, and the cumulative effect of these adjustments are reported in the Company’s consolidated balance sheets as a cumulative translation adjustment within stockholders’ deficit.
Net Income (Loss) Per Common Share	The Company computes loss per common share, in accordance with FASB ASC 260, ” Earnings Per Share
Recent Accounting Pronouncements	The Company has implemented all new accounting pronouncements that are in effect. These pronouncements did not have any material impact on the consolidated financial statements unless otherwise disclosed, and the Company 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.

Property and Equipment (Tables)

Property and Equipment (Tables)	3 Months Ended
	Mar. 31, 2022
Property and Equipment
Property and Equipment	Laboratory equipment $ 227,428 Total $ 227,428

Operating Lease RightofUse As_2

Operating Lease RightofUse Assets and Operating Lease Liabilities (Tables)	3 Months Ended
	Mar. 31, 2022
Operating Lease RightofUse Assets and Operating Lease Liabilities
Schedule of right of use assets	March 31, 2022 December 31, 2021 Operating leases $ 545,602 $ 545,602 Less: accumulated amortization (84,848 ) (55,421 ) Right-of-use assets, net $ 460,754 $ 490,181
Schedule of opearting lease liabilites	March 31, 2022 December 31, 2021 Operating leases $ 491,087 $ 509,139 Less: current portion (124,514 ) (107,915 ) Long-term portion $ 366,573 $ 401,224
Summary 0f maturity of lease liabilities	2023 $ 167,012 2024 156,631 2025 120,450 2026 109,200 2027 36,400 Total 589,693 Less: imputed interest (98,606 ) Lease liabilities $ 491,087

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details Narrative)	3 Months Ended
	Mar. 31, 2022
Summary of significant accounting policies
Ownership percentage	50%
Lease term	12 years

Going concern (Details Narrativ

Going concern (Details Narrative) - USD ($)	Mar. 31, 2022	Dec. 31, 2021
Going concern
Accumulated deficit	$ (3,536,109)	$ (2,976,773)

Property and Equipment (Details

Property and Equipment (Details) - USD ($)	Mar. 31, 2022	Dec. 31, 2021
Property and equipment, net	$ 227,428	$ 187,156
Property and equipment, gross	227,428	$ 187,156
Laboratory equipment [Member]
Property and equipment, gross	$ 227,428

Intellectual Property (Details

Intellectual Property (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2022	Sep. 11, 2020
Intellectual Property (Details Narrative)
Intellectual Property	$ 657,018
Impairment cost	33,412
Super capacitor technology patents		$ 309,783
Legal fees	$ 380,647

Operating Lease RightofUse As_3

Operating Lease RightofUse Assets and Operating Lease Liabilities (Details Narrative) - USD ($)		1 Months Ended	3 Months Ended	5 Months Ended
	May 05, 2021	Aug. 01, 2021	Mar. 31, 2022	Aug. 02, 2021
Monthly rental payment		$ 4,600		$ 8,500
Interest rate			10%
Operating lease expense			$ 41,753
April 5, 2023
Monthly rental payment	$ 1,221
May 5, 2023
Monthly rental payment	$ 605

Operating Lease RightofUse As_4

Operating Lease RightofUse Assets and Operating Lease Liabilities (Details 1) - USD ($)	Mar. 31, 2022	Dec. 31, 2021
Going concern
Operating leases	$ 545,602	$ 545,602
Less: accumulated amortization	84,848	55,421
Right-of-use assets, net	$ 460,754	$ 490,181

Operating Lease RightofUse As_5

Operating Lease RightofUse Assets and Operating Lease Liabilities (Details 2) - USD ($)	Mar. 31, 2022	Dec. 31, 2021
Going concern
Operating leases	$ 491,087	$ 509,139
Less: current portion	124,514	107,915
Long-term portion	$ 366,573	$ 401,224

Operating Lease RightofUse As_6

Operating Lease RightofUse Assets and Operating Lease Liabilities (Details 3)	Mar. 31, 2022 USD ($)
Going concern
2023	$ 167,012
2024	156,631
2025	120,450
2026	109,200
2027	36,400
Total	589,693
Less: imputed interest	(98,606)
Lease liabilities	$ 491,087

Payroll Taxes Payable (Details

Payroll Taxes Payable (Details Narrative) - USD ($)	3 Months Ended	5 Months Ended
	Mar. 31, 2022	Oct. 31, 2021	Dec. 31, 2021	Jul. 31, 2021	Jun. 30, 2021
Interest due	$ 38,600
Payroll taxes due	$ 330,822		$ 398,299
August 27, 2021 [Member] | HM Revenue and Custioms [Member]
Payroll taxes due					$ 364,538
Payroll tax liability				$ 54,600
Monthly installments		$ 76,120

Due To Stockholders (Details Na

Due To Stockholders (Details Narrative) - USD ($)	Mar. 31, 2022	Dec. 31, 2021
Equity
Due to stockholders	$ 85,789	$ 5,859

Note Payable Related Party (Det

Note Payable Related Party (Details Narrative) - Oxcion Limited [Member] - USD ($)	3 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Promissory note amount		$ 585,000
Accrued interest rate	1.90%

Notes Payable (Details Narrativ

Notes Payable (Details Narrative) - USD ($)	Mar. 31, 2022	Feb. 16, 2022
Property and Equipment (Details)
Due liability repaid	$ 70,039
CIE received		$ 75,000
Accrued interest		3%

Equity (Details Narrative)

Equity (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
preferred stock share authorized	1,000,000	1,000,000
Preferred Stock Share par value	$ 0.0001
Common stock share authorized	2,500,000,000	2,500,000,000
Common stock share at par value	$ 0.0001	$ 0.0001
Common stock share issued	558,349,670	533,549,670
Common stock share outstanding	558,349,670	533,549,670
Series E Preferred Stock [Member]
preferred stock share authorized	81,100	81,100
Preferred Stock Share issued	81,032	81,032
Preferred Stock Share outstanding	81,032	81,032
Preferred stock, shares allocated	81,100
Voting rights shares	100
Conversion, Description	1 preferred share is convertible into 1,000 common shares
Series F Preferred Stock [Member]
preferred stock share authorized	100,000	100,000
Preferred Stock Share issued	100,000	100,000
Preferred Stock Share outstanding	100,000	100,000
Preferred stock, shares allocated	100,000
Voting rights shares	100
Conversion, Description	1 preferred share is convertible into $0.25 per share (4,000,000 common shares)
Series C Preferred Stock [Member]
preferred stock share authorized	100,000	100,000
Preferred Stock Share issued	0	0
Preferred Stock Share outstanding	0	0
Preferred stock, shares allocated	100,000
Reverse stock split	20%
Voting rights	20%
Series D Preferred Stock [Member]
preferred stock share authorized	100,000	100,000
Preferred Stock Share issued	100,000	100,000
Preferred Stock Share outstanding	100,000	100,000
Preferred stock, shares allocated	100,000
Voting rights shares	12,938
Conversion of preferred stock into common shares	12,938
Series G Preferred Stock [Member]
preferred stock share authorized	25	25
Preferred Stock Share issued	20	20
Preferred Stock Share outstanding	20	0
Preferred stock, shares allocated	25
Voting rights shares	4,000,000
Conversion of preferred stock into common shares	4,000,000
Common Stock [Member] | Private Placement [Member]
Common stock share at par value	$ 0.04
Restricted common stock share sold	24,800,000
Restricted common stock sold	$ 992,000

Income Tax Credits (Details Nar

Income Tax Credits (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Net operating loss carry forwards	$ 3,512,081
Potential Tax Benefit Expiration Year	2036
Deferred tax asset	$ 740,000		$ 625,000
Income tax credits due	649,539		590,132
Interest or penalties accrued	0		$ 0
R & D [Member]
Income tax credits	$ 73,363	$ 103,043

Commitments and Contingencies (

Commitments and Contingencies (Details Narrative) - USD ($)	Mar. 31, 2022	Feb. 23, 2022	Dec. 31, 2021	Apr. 12, 2021	Mar. 31, 2021
Base salary				$ 250,000	$ 465,000
compensation obligations expenses		$ 121,221
Amount included in account payable	$ 126,259
Accrued amount recoreded in salary and wages			$ 242,442
Annual bonus					$ 400,000
Allowance				1,000
Minimum [Member]
Increase base salary minimum				15,000
Maximum [Member]
Increase base salary maximum				$ 30,000

Subsequent events (Details Narr

Subsequent events (Details Narrative) - USD ($)	1 Months Ended		5 Months Ended
	Sep. 22, 2022	Jun. 19, 2022	Sep. 22, 2022	Jun. 28, 2022	Apr. 09, 2022	Apr. 02, 2022	Mar. 31, 2022	Dec. 31, 2021
Common stock, shares par value							$ 0.0001	$ 0.0001
Subsequent Event [Member]
Payroll taxes liabilities						$ 277,000
Monthly installments						$ 69,250
Convertible note offering	$ 175,000		$ 175,000
Convertible note expires	December 31, 2022
Restricted common stock sold and issued			4,750,000
Restricted common stock sold			$ 190,000
Common stock, shares par value	$ 0.04		$ 0.04
Interest rate	10%		10%	15%	15%
Maturity date	June 15, 2024
Promissory note				$ 125,000	$ 250,000
Unrelated party and an original principal amount					$ 275,000
Return shares description		former CEO of COUV agreed to return 10,000,000 of the 15,600,000 shares of the Company’s common stock he received related to the investment in Medicevo in 2020 and the subsequent impairment of that investment as of June 30, 2021
Subsequent Event [Member] | Maximum [Member]
Convertible note offering Maximum	$ 7,000,000		$ 7,000,000
Subsequent Event [Member] | Minimum [Member]
Convertible note offering Minimum	$ 5,000		$ 5,000