| Basis of Presentation | Note 1. Basis of Presentation On February 14, 2022, we effected a 1-for-30 reverse
split COVID-19 On March 11, 2020, the World Health Organization
(“WHO”) declared the COVID-19 outbreak to be a global pandemic. In addition to the devastating effects on human life, the
pandemic is having a negative ripple effect on the global economy, leading to disruptions and volatility in the global financial markets.
Most U.S. states and many countries have issued policies intended to stop or slow the further spread of the disease. COVID-19 and the U.S. response to the pandemic
are significantly affecting the economy. There are no comparable events that provide guidance as to the effect the COVID-19 pandemic may
have, and, as a result, the ultimate effect of the pandemic is highly uncertain and subject to change. We do not yet know the full extent
of the effects on the economy, the markets we serve, our business, or our operations. In March 2020 we temporarily suspended operations
in Kuwait and Utah due to COVID-19 government restrictions, Utah has resumed operations in full. Kuwait has allowed for the Company to
obtain site personnel visas to recommence operations. These suspensions have had a negative impact on our business and there can be no
guaranty that we will not need to suspend operations again in the future as a result of the pandemic. Interim Financial Information The accompanying unaudited condensed consolidated
financial statements were prepared in accordance with accounting principles generally accepted in the United States of America (“U.S.
GAAP”) for interim financial information and pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”).
Certain information and disclosures normally included in consolidated financial statements prepared in accordance with U.S. GAAP have
been condensed or omitted. Accordingly, these condensed consolidated financial statements should be read in conjunction with the audited
consolidated financial statements and the related notes for the year ended December 31, 2021. The unaudited condensed consolidated financial
statements have been prepared on a basis consistent with that used to prepare the audited annual consolidated financial statements and
include, in the opinion of management, all adjustments, consisting of normal and recurring items, necessary for the fair presentation
of the condensed consolidated financial statements. The operating results for the three and six months ended June 30, 2022 are not necessarily
indicative of the results expected for the full year ending December 31, 2022. Principles of Consolidation The Company follows ASC 810-10-15 guidance with
respect to accounting for Variable Interest Entities (“VIE”). A VIE is an entity that does not have sufficient equity at risk
to finance its activities without additional subordinated financial support from other parties, or whose equity investors lack any of
the characteristics of a controlling financial interest. A variable interest is an investment or other interest that will absorb portions
of a VIE’s expected losses or receive portions of the entity’s expected residual returns. For the six months ended June 30,
2022 and year ended December 31, 2021 the following entities are considered to be a VIE and are consolidated in our consolidated financial
statements: Viva Wealth Fund I, LLC and RPC Design and Manufacturing, LLC. For the six months ended June 30, 2022 and year ended December
31, 2021 the following entities were considered to be a VIE, but were not consolidated in our consolidated financial statements due to
a lack of the power criterion or the losses/benefits criterion: Vivaventures UTS I, LLC, Vivaventures Royalty II, LLC, Vivaopportunity
Fund, LLC, and International Metals Exchange, LLC. For the six months ended June 30, 2022 and year ended December 31, 2021 the unaudited
financial information for the unconsolidated VIEs is as follows: Vivaventures UTSI, LLC held assets of $ 3,383,610 3,753,296 47,049 12,608 2,939,498 2,648,810 1,720 300 2,119,856 2,119,961 no 29,938 30,461 1,900 RPC Design and Manufacturing, LLC: 387,049 629,694 628,828 354,566 Viva Wealth Fund I, LLC: 296,257 199,952 rd th th Long Lived Assets The Company reviews the carrying values of
its long-lived assets for possible impairment whenever events or changes in circumstances indicate that the carrying amount may not
be recoverable. If the expected future cash flow from the use of the asset and its eventual disposition is less than the carrying
amount of the asset, an impairment loss is recognized and measured using the fair value of the related asset. No impairment charges
were incurred during the six months ended June 30, 2022 or for the year ended December 31, 2021, as the Company was still in the
early phases of our business plan and operating losses were expected in our early phases. On March 11, 2020, the World Health
Organization (“WHO”) declared the COVID-19 outbreak to be a global pandemic. In addition to the devastating effects on
human life, the pandemic is having a negative ripple effect on the global economy, leading to disruptions and volatility in the
global financial markets. Most U.S. states and many countries have issued policies intended to stop or slow the further spread of
the disease. We have observed supply chain disruptions from the COVID-19 pandemic that has contributed to delays in the completion
of the manufacturing of our RPCs, although we do not believe that these delays have constituted a triggering event for impairment of
our assets. Our Kuwait operations were suspended to comply with the social distancing measures implemented in Kuwait, but in 2022
has allowed for the Company to obtain site personnel visas to recommence operations. Our Utah operations were temporarily
suspended from March through May 2020, but have since resumed in full in its manufacturing of its RPCs, and construction and implementation of site and infrastructure preparations
in anticipation of commencing operations in 2022. There can be no assurance, however, that market conditions
will not change or demand for the Company’s services will continue, which could result in impairment of long-lived assets in
the future. Intangible Assets We account for intangible assets in accordance
with ASC 350 “Intangibles-Goodwill and Other” 10 20 We assess our intangible assets in accordance
with ASC 360 “ Property, Plant, and Equipment Advertising Expense Advertising costs are expensed as incurred. The
Company did not incur advertising expense for the six months ended June 30, 2022 and 2021. Net Income/Loss Per Share Basic net income (loss) per share is
calculated by subtracting any preferred interest distributions from net income (loss), all divided by the weighted-average number of
common shares outstanding for the period, without consideration for common stock equivalents. Diluted net income (loss) per common
share is computed by dividing the net income (loss) by the weighted-average number of common share equivalents outstanding for the
period determined using the treasury stock method if their effect is dilutive. Potential dilutive instruments as of June 30, 2022
and 2021 include the following: convertible notes payable convertible into approximately 14,560 227,150 none 666,667 2,039,585 183,333 466,667 80,000 Use of Estimates The preparation of financial statements in conformity
with accounting principles generally accepted in the United States of America requires management to make estimates, judgments, and assumptions
that affect the amounts reported in the consolidated financial statements and accompanying notes. We believe our critical accounting estimates
relate to the following: Recoverability of current and noncurrent assets, revenue recognition, stock-based compensation, income taxes,
effective interest rates related to long-term debt, marketable securities, cost basis and equity method investments, lease assets and
liabilities, equity method investments, valuation of stock used to acquire assets, and derivatives. While our estimates and assumptions are based
on our knowledge of current events and actions we may undertake in the future, actual results may ultimately differ from these estimates
and assumptions. Fair Value of Financial Instruments The Company follows Accounting Standards Codification
(“ASC”) 820, “Fair Value Measurements and Disclosures” (“ASC 820”), for assets and liabilities measured
at fair value on a recurring basis. ASC 820 establishes a common definition for fair value to be applied to existing generally accepted
accounting principles that requires the use of fair value measurements, establishes a framework for measuring fair value, and expands
disclosure about such fair value measurements. The adoption of ASC 820 did not have an impact on the Company’s financial position
or operating results but did expand certain disclosures. ASC 820 defines fair value 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. Additionally, ASC 820 requires the use of valuation techniques that maximize the use of observable inputs and minimize the use of
unobservable inputs. These inputs are prioritized below: Level 1: Applies to assets or liabilities for
which there are quoted prices in active markets for identical assets or liabilities. Level 2: Applies to assets or liabilities for
which there are inputs other than quoted prices that are observable for the asset or liability such as quoted prices for similar assets
or liabilities in active markets; quoted prices for identical assets or liabilities in markets with insufficient volume or infrequent
transactions (less active markets); or model-derived valuations in which significant inputs are observable or can be derived principally
from, or corroborated by, observable market data. Level 3: Applies to assets or liabilities for
which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets
or liabilities. The Company analyzes all financial instruments
with features of both liabilities and equity under the Financial Accounting Standard Board’s (“FASB”) accounting standard
for such instruments. Under this standard, financial assets and liabilities are classified in their entirety based on the lowest level
of input that is significant to the fair value measurement. The carrying amounts reported in the consolidated balance sheets for marketable
securities are classified as Level 1 assets due to observable quoted prices for identical assets in active markets. The carrying amounts
reported in the consolidated balance sheets for cash, prepaid expenses and other current assets, accounts payable and accrued expenses
approximate their estimated fair market values based on the short-term maturity of these instruments. T he
recorded values of notes payable approximate their current fair values because of their nature, rates, and respective maturity dates or
durations. |
