BlackStar Enterprise (BEGI) 10-Q 17 May 21 2021 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2021	May 12, 2021
Document and Entity Information [Abstract]
Entity Registrant Name	BLACKSTAR ENTERPRISE GROUP, INC.
Entity Central Index Key	0001483646
Document Type	10-Q
Document Period End Date	Mar. 31, 2021
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Entity Shell Company	false
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Common Stock, Shares Outstanding		114,246,549
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2021
Entity Interactive Data Current	Yes
Entity Current Reporting Status	Yes
Entity Incorporation, State or Country Code	DE
Entity File Number	000-55730

CONSOLIDATED BALANCE SHEETS (Un

CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)	Mar. 31, 2021	Dec. 31, 2020
Current Assets
Cash	$ 128,950	$ 32,987
Prepaid expenses	24,893	51,224
Total current assets	153,843	84,211
Fixed assets	21,000	10,000
Total Assets	174,843	94,211
Current liabilities
Accounts payable	17,680	29,880
Accrued expenses	14,166	4,517
Advances to related parties	18,780	18,780
Convertible notes payable, net of discounts of $358,925 and $158,390 at March 31, 2021 and December 31, 2020	45,850	25,885
Notes payable	50,000	50,000
Total current liabilities	146,476	129,062
Stockholders' Equity (Deficit)
Preferred stock, 10,000,000 shares authorized; $0.001 par value; 1,000,000 shares issued and outstanding	1,000	1,000
Common stock, 700,000,000 shares authorized; $0.001 par value 107,307,525 and 101,063,806 shares issued and outstanding at March 31, 2021 and December 31, 2020	107,308	101,063
Additional paid in capital	6,315,228	5,829,279
Common stock subject to cancellation	(106,667)
Accumulated deficit	(6,288,502)	(5,966,193)
Total stockholders' equity (deficit)	28,367	(34,851)
Total Liabilities and Stockholders' Deficit	$ 174,843	$ 94,211

CONSOLIDATED BALANCE SHEETS (_2

CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - USD ($)	Mar. 31, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Convertible notes payable discount	$ 358,925	$ 158,390
Preferred stock, par value per share	$ 0.001	$ 0.001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	1,000,000	1,000,000
Preferred stock, shares outstanding	1,000,000	1,000,000
Common stock, par value per share	$ 0.001	$ 0.001
Common stock, shares authorized	700,000,000	700,000,000
Common stock, shares issued	107,307,525	101,063,806
Common stock, shares outstanding	107,307,525	101,063,806

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Operating expenses
Legal and professional	$ 22,500	$ 3,000
Management consulting - related party	51,142	16,500
General and administrative	55,646	15,618
Total operating expenses	129,288	35,118
Other expense (income)
Amortization of discount on convertible notes	98,582	33,243
Amortization of convertible debt issuance costs	4,433	6,500
Loss on note payable conversions	41,677	20,545
Interest expense	48,329	8,702
Other expense (income)	193,021	68,990
Net (loss)	$ (322,309)	$ (104,108)
Net (loss) per share - basic and diluted	$ 0	$ 0
Weighted average number of common shares outstanding - basic and diluted	105,250,795	48,401,409

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (DEFICIT) (Unaudited) - USD ($)	Common Stock [Member]	Preferred Stock [Member]	Additional Paid in Capital [Member]	Common Stock Subject to Cancellation [Member]	Accumulatedt Deficit [Member]	Total
Balance at Dec. 31, 2019	$ 48,003	$ 1,000	$ 4,117,321		$ (4,400,602)	$ (234,278)
Balance, shares at Dec. 31, 2019	48,003,443	1,000,000
Shares issued for conversion of notes payable	$ 2,388		22,240			24,628
Shares issued for conversion of notes payable, shares	2,387,795
Shares issued subject to cancellation	$ (150)		150
Shares issued subject to cancellation, shares	(150,000)
Net loss					(104,108)	(104,108)
Balance at Mar. 31, 2020	$ 50,241	$ 1,000	4,139,711		(4,504,710)	(313,758)
Balance, shares at Mar. 31, 2020	50,241,238	1,000,000
Balance at Dec. 31, 2020	$ 101,063	$ 1,000	5,829,279		(5,966,193)	(34,851)
Balance, shares at Dec. 31, 2020	101,063,806	1,000,000
Shares issued for conversion of notes and interest	$ 2,895		83,932			86,827
Shares issued for conversion of notes and interest, shares	2,894,231
Beneficial conversion feature of convertible note			263,500			263,500
Shares issued for loan costs	$ 300		23,700			24,000
Shares issued for loan costs, shares	300,000
Shares issued for financing fees	$ 383		10,817			11,200
Shares issued for financing fees, shares	382,822
Shares issued subject to cancellation	$ 2,667		104,000	(106,667)
Shares issued subject to cancellation, shares	2,666,666
Net loss					(322,309)	(322,309)
Balance at Mar. 31, 2021	$ 107,308	$ 1,000	$ 6,315,228	$ (106,667)	$ (6,288,502)	$ 28,367
Balance, shares at Mar. 31, 2021	107,307,525	1,000,000

CONSOLIDATED STATEMENTS OF CAS

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Cash Flows From Operating Activities
Net (loss)	$ (322,309)	$ (104,108)
Adjustments to reconcile net loss to net cash used in operating activities
Amortization of convertible note issue costs	4,433	6,500
Amortization of discounts on convertible notes	98,582	33,243
Amortization of discounts on convertible note interest	5,950
Loss on conversion of notes payable	41,677	20,545
Interest and loan fees paid in stock	35,200	3,221
Changes in operating assets and liabilities
Decrease in prepaids	26,331	7,037
(Decrease) in accounts payable	(12,200)	(1,026)
Increase in accrued payables	11,799	7,222
Cash used in operating activities	(110,537)	(27,366)
Cash Flows From Investing Activities
Purchase of software	(11,000)
Cash used in investing activities	(11,000)
Cash Flows From Financing Activities
Proceeds from convertible notes, net of offering costs and original issue discount	217,500
Net cash provided by financing activities	217,500
Net increase (decrease) in cash	95,963	(27,366)
Cash, beginning of period	32,987	33,251
Cash, end of period	128,950	5,885
Supplemental disclosure of non-cash investing and financing activits
Notes payable and interest converted to common stock	45,150	4,083
Beneficial conversion feature initially recorded as debt discount	$ 263,500

NATURE OF OPERATIONS AND BASIS

NATURE OF OPERATIONS AND BASIS OF PRESENTATION	3 Months Ended
	Mar. 31, 2021
Nature Of Operations And Basis Of Presentation
NATURE OF OPERATIONS AND BASIS OF PRESENTATION	NOTE 1 – NATURE OF OPERATIONS AND BASIS OF PRESENTATION BlackStar Enterprise Group, Inc. (the “Company” or “BlackStar”) was incorporated in the State of Delaware on December 18, 2007 as NPI08, Inc. The Company changed its name to Blackstar Energy Group, Inc. in 2010; and to BlackStar Enterprise Group, Inc. in 2016 when new management and capital were introduced. On January 25, 2016, International Hedge Group, Inc. (“IHG”) signed an agreement to acquire a 95% interest in the Company. In lieu of the 95% of common shares originally agreed upon, IHG received 44,400,000 shares of common stock, of which IHG currently owns 4,792,702 shares due to anti-dilutive cancellation of shares by management, and 1,000,000 shares of Series A Preferred Stock. IHG is our controlling shareholder and is engaged in providing management services and capital consulting to companies. IHG and BlackStar are currently managed and controlled by two individuals each of whom is a beneficial owner of an additional 9% of the Company’s common stock. The Company intends to act as a merchant banking firm seeking to facilitate venture capital to early stage revenue companies. BlackStar intends to offer consulting and regulatory compliance services to crypto-equity companies and blockchain entrepreneurs for securities, tax, and commodity issues. BlackStar is conducting ongoing analysis for opportunities in involvement in crypto-related ventures through a wholly-owned subsidiary, Crypto Equity Management Corp (“CEMC”). BlackStar intends to serve businesses in their early corporate lifecycles and may provide funding in the forms of ventures in which they control the venture until divestiture or spin-off by developing the businesses with capital. BlackStar formed a subsidiary nonprofit company, Crypto Industry SRO Inc. (“Crypto”) in 2017. Crypto’s business plan is to act as a self-regulatory membership organization for the crypto-equity industry and set guidelines and best-practice rules by which industry members would abide. BlackStar will provide management of this entity under a services contract. Basis of presentation The accompanying unaudited financial statements have been prepared in accordance with United States generally accepted accounting principles for financial information and with the instructions to Form 10-Q. They do not include all information and footnotes required by United States generally accepted accounting principles (US GAAP)for complete financial statements. However, except as disclosed herein, there has been no material change in the information disclosed in the notes to the financial statements for the year ended December 31, 2020 included in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission. These unaudited financial statements are condensed and should be read in conjunction with those financial statements included in the Form 10-K and interim disclosures generally do not repeat those in the annual statements. In the opinion of management, all adjustments considered necessary for a fair presentation, consisting solely of normal recurring adjustments, have been made. Operating results for the three months ended March 31, 2021 are not necessarily indicative of the results that may be expected for the year ending December 31, 2021. These unaudited consolidated financial statements include BlackStar and its wholly owned subsidiaries: Crypto Equity Management Corp. and Crypto Industry SRO Inc., and were prepared from the accounts of the Company in accordance with US GAAP. All significant intercompany transactions and balances have been eliminated on consolidation.

GOING CONCERN

GOING CONCERN	3 Months Ended
	Mar. 31, 2021
Going Concern [Abstract]
GOING CONCERN	NOTE 2 – GOING CONCERN The Company's financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. As shown in the financial statements for the three months ended March 31, 2021 and the year ended December 31, 2020, the Company has generated no revenues and has incurred losses. As of March 31, 2021, the Company had cash of $128,950, working capital of $7,367 and an accumulated deficit of ($6,288,502). These conditions raise substantial doubt as to the Company's ability to continue as a going concern. These financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts, or amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. The continuation of the Company as a going concern is dependent upon the ability to raise equity or debt financing, and the attainment of profitable operations from the Company's planned business. Management cannot provide any assurances that the Company will be successful in accomplishing any of its plans.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2021
Summary Of Significant Accounting Policies
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES 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 and assumptions that affect reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Management bases its estimates on historical experience and on various assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. The Company’s significant estimates include income taxes provision and valuation allowance of deferred tax assets; the fair value of financial instruments; the carrying value and recoverability of long-lived assets, and the assumption that the Company will continue as a going concern. Those significant accounting estimates or assumptions bear the risk of change due to the fact that there are uncertainties attached to those estimates or assumptions, and certain estimates or assumptions are difficult to measure or value. Management regularly reviews its estimates utilizing currently available information, changes in facts and circumstances, historical experience and reasonable assumptions. After such reviews, and if deemed appropriate, those estimates are adjusted accordingly. Actual results could differ from those estimates. Recent pronouncements Management has evaluated accounting standards and interpretations issued but not yet effective as of March 31, 2021, and does not expect such pronouncements to have a material impact on the Company’s financial position, operations, or cash flows. Reclassifications Certain amounts in the consolidated financial statements for prior year periods have been reclassified to conform with the current year presentation.

STOCKHOLDERS' EQUITY (DEFICIT)

STOCKHOLDERS' EQUITY (DEFICIT)	3 Months Ended
	Mar. 31, 2021
Stockholders Equity
STOCKHOLDERS' EQUITY (DEFICIT)	NOTE 4 – STOCKHOLDERS’ EQUITY (DEFICIT) Preferred Stock The Company has an authorized number of preferred shares of 10,000,000, with a par value of $0.001 per share. On August 25, 2016, the Company issued 1,000,000 shares of its Series A Preferred Series stockto IHG in fulfillment of the purchase agreement. These shares are convertible at a ratio of 100 shares of the common stock of the Company for each share of preferred stock of the Company. Common Stock During the three months ended March 31, 2021, the Company issued shares of its common stock as follows: · 2,894,231 shares for conversion of $45,150 principal and interest on convertible note payable, and recognized a loss conversion of $41,677. · 300,000 shares valued at $24,000 ($0.08 per share) to a convertible note holder as consideration for the Company’s entering into certain third party transactions which were in default of the convertible promissory note, security purchase agreement and other related documents entered into on November 16, 2020. · 382,822 shares valued at $11,200 ($0.029 per share) as consideration for finders fee for loans made to the Company. · 2,666,666 shares valued at $106,667 ($0.04 per share) to a convertible note holder. These shares have been issued as condition that the Company files a resale registration statement covering the underlying convertible shares. The shares are returnable to the Company upon the effective date of the registration statement.

WARRANTS

WARRANTS	3 Months Ended
	Mar. 31, 2021
Compensation Related Costs [Abstract]
WARRANTS	NOTE 5 – WARRANTS In April 2019, the Company issued a convertible note for $110,000. Pursuant to the terms of the note agreement, the Company issued warrants to the holder for the purchase 440,000 shares of the Company’s common stock. The warrants are exerecisable at $0.25 per share for a term of 5 years. The $132,953 fair value of the warrants was calculated using the Black-Scholes pricing model with the following assumptions: stock price $0.38; strike price $0.25; volatility 98%; risk free rate 2.25% and term of 5 years. The $132.953 fair value of the warrants was charged to operations when issued during the year ended December 31, 2019. At March 31, 2021, the intrinsic value of the outstanding warrants was $0, as the trading price of the Company’s common stock at that date was less than the underlying exercise price of the warrants. A summary of warrant activity during the three months ended March 31, 2021 is presented below: Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Life (Years) Outstanding and exercisable – December 31, 2020 540,000 $ 0.31 2.99 Exercised — Expired — Outstanding and exercisable – March 31, 2021 540,000 $ 0.31 2.74

CONVERTIBLE NOTES

CONVERTIBLE NOTES	3 Months Ended
	Mar. 31, 2021
Debt Disclosure [Abstract]
CONVERTIBLE NOTES	NOTE 6 – CONVERTIBLE NOTES GS CAPITAL PARTNERS On December 4, 2020, the Company entered into a financing arrangement with GS Capital Partners LLC. The face value of the note is $55,000 at an interest rate of 10% and the maturity date is December 2, 2021. At the time of the disbursement the Company received $45,00 net cash proceeds, as there was a deduction from proceeds to the Company of $10,000 for original interest discount and placement costs. The repayment is a lump sum payment on the due date or is convertible into Company common stock at the discretion of the lender. The conversion, if chosen, will be at 50% of the two lowest trading days in the previous ten-day period prior to the date of conversion. The lender agrees to limit the amount of stock received to less than 4.99% of the total outstanding common stock. There are no warrants or options attached to this note. The Company has recorded the conversion feature as a beneficial conversion feature of $55,000. The fair value of $55,000 for the expense portion of the note is being amortized over the term of the note. This fair value has been determined based on the current trading prices of the Company’s common stock. Management has determined that this treatment is appropriate given the uncertain nature of the value of the Company and its stock, and there will be no revaluations until the note is paid or redeemed for stock. POWER UP LENDING GROUP (i) On July 24, 2020, the Company entered into a financing agreement with Power Up to borrow $43,000 with a due date of July 24, 2021. The note bears interest at 10%, with a default rate of 22%, and is convertible, commencing 180 days after the date of issuance. The conversion price is to be calculated at 61% of the lowest trading price of the Company’s common stock for the previous 20 trading days prior to the date of conversion. The lender agrees to limit the amount of stock received to less than 4.99% of the total outstanding common stock. There are no warrants or options attached to this note.The Company has reserved 41,876,318 shares for conversion. Net proceeds from the loan were $40,000, after legal fees and offering costs of $3,000. These fees and costs are being amortized over the term of the note. The Company has recorded the conversion feature as a beneficial conversion feature. The fair value of $43,000 for the expense portion of the note is being amortized over the term of the note. This fair value has been determined based on the trading price of the Company’s common stock as of the date of the note. Management has determined that this treatment is appropriate given the uncertain nature of the value of the Company and its stock, and there will be no revaluations until the note is paid or redeemed for stock. On January 28, 2021, Power Up elected to convert the total principal and interest due on their note of July 24, 2020 in the principal amount of $43,000 and $2,150 of accrued and unpaid interest thereon into 2,894,231 shares of the Company’s common stock at $0.0156 per share. The Company recognized a loss on conversion of $41,677. (ii)On October 8, 2020, the Company received the proceeds from a financing agreement entered into with Power Up Lending Group on September 24, 2020 to borrow $53,000. The note bears interest at 10%, with a default rate of 22%, and is convertible, commencing 180 days after the date of issuance. The conversion price is to be calculated at 61% of the lowest trading price of the Company’s common stock for the previous 20 trading days prior to the date of conversion. The lender agrees to limit the amount of stock received to less than 4.99% of the total outstanding common stock. There are no warrants or options attached to this note, and the Company has reserved 25,429,828 shares for conversion. Net proceeds from the loan were $50,000, after legal fees and offering costs of $3,000. The Company has recorded the conversion feature as a beneficial conversion feature. The fair value of $53,000 for the expense portion of the note is being amortized over the term of the note. This fair value has been determined based on the trading price of the Company’s common stock as of the date of the note. Management has determined that this treatment is appropriate given the uncertain nature of the value of the Company and its stock, and there will be no revaluations until the note is paid or redeemed for stock. (iii)On January 15, 2021, the Company entered into a financing agreement with Power Up Lending Group to borrow $43,500. The note bears interest at 10%, with a default rate of 22%, and is convertible, commencing 180 days after the date of issuance. The conversion price is to be calculated at 61% of the lowest trading price of the Company’s common stock for the previous 20 trading days prior to the date of conversion. The lender agrees to limit the amount of stock received to less than 4.99% of the total outstanding common stock. There are no warrants or options attached to this note, and the Company has reserved 20,871,651 shares for conversion. Net proceeds from the loan were $40,000, after legal fees of $3,500. The Company has recorded the conversion feature as a beneficial conversion feature. The fair value of $43,500 for the expense portion of the note is being amortized over the term of the note. This fair value has been determined based on the trading price of the Company’s common stock as of the date of the note. Management has determined that this treatment is appropriate given the uncertain nature of the value of the Company and its stock, and there will be no revaluations until the note is paid or redeemed for stock QUICK CAPITAL LLC On November 23, 2020, the Company entered into a financing agreement with Quick Capital LLC to borrow $33,275 with a due date of July 16, 2021. The note bears interest at 10%, with a default rate of 24%, and is convertible inton shares of the Company’s common stock. The conversion price is to be calculated at 60% of the 2 lowest trading prices of the Company’s common stock for the previous 20 trading days prior to the date of conversion. The lender agrees to limit the amount of stock received to less than 4.99% of the total outstanding common stock. There are no warrants or options attached to this note, and the Company has reserved 12,000,000 shares for conversion. Net proceeds from the loan were $25,000, after legal fees and offering costs of $8,275. The Company has recorded the conversion feature as a beneficial conversion feature. The fair value of $33,275 for the expense portion of the note is being amortized over the term of the note. This fair value has been determined based on the trading price of the Company’s common stock as of the date of the note. Management has determined that this treatment is appropriate given the uncertain nature of the value of the Company and its stock, and there will be no revaluations until the note is paid or redeemed for stock SE HOLDINGS LLC On January 26, 2021, the Company entered into a financing agreement with SE Holdings LLC to borrow $220,000. The note bears interest at 10%, with a default rate of 24%, and is convertible, at any time after the date of issuance. The conversion price is to be calculated at 50% of the average of the three lowest trading price of the Company’s common stock for the previous twenty trading days prior to the date of conversion. The lender agrees to limit the amount of stock received to less than 4.99% of the total outstanding common stock. There are no warrants or options attached to this note, and the Company has reserved 44,000,000 shares for conversion. Net proceeds from the loan were $177,500, after original issue discount of $20,000 and legal fees and offering costs of $22,500. The Company has recorded the conversion feature as a beneficial conversion feature. The fair value of $220,000 for the expense portion of the note is being amortized over the term of the note. This fair value has been determined based on the trading price of the Company’s common stock as of the date of the note. Management has determined that this treatment is appropriate given the uncertain nature of the value of the Company and its stock, and there will be no revaluations until the note is paid or redeemed for stock Convertible notes payable at March 31, 2021 and December 31, 2020 are summarized as follows: Holder Face Amount Interest Rate Due Date 2021 2020 GS Capital Partners $ 55,000 10 % December 2, 2021 $ 55,000 $ 55,000 Power UP Lending Group $ 43,000 10 % July 24, 2021 $ — $ 43,000 $ 53,000 10 % September 24, 2021 $ 53,000 $ 53,000 $ 43,500 10 % January 15, 2022 $ 43,500 $ — SE Holdings LLC $ 220,000 10 % January 26, 2022 $ 220,000 $ — Quick Capital LLC $ 33,275 10 % July 16, 2021 $ 33,275 $ 33,275 Discount $ (358,925 ) $ (158,390 ) $ 45,850 $ 25, 885

NOTES PAYABLE

NOTES PAYABLE	3 Months Ended
	Mar. 31, 2021
Notes Payable [Abstract]
NOTES PAYABLE	NOTE 7 – NOTES PAYABLE On November 18, 2020, outstanding loans to the two individuals were rolled over and extended into two new loans in the amounts of $20,000 and $30,000, due May 18, 2021 with interest at 11%. Each of the two loan holders was paid $2,500 principal (an aggregate $5,000) and aggregate accrued interest of $3,026. In addition, the two individuals were issued an aggregate 1,550,000 shares of the Company’s common stock valued at $46,500 ($0.03 per share), under the default penalty provisions of the original notes.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	3 Months Ended
	Mar. 31, 2021
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	NOTE 8 – RELATED PARTY TRANSACTIONS In support of the Company’s efforts and cash requirements, it must rely on advances from related parties until such time that the Company can support its operations or attains adequate financing through sales of its equity or traditional debt financing. There is no formal written commitment for continued support by shareholders. The advances are considered temporary in nature and have not been formalized by a promissory note. IHG, controlling shareholder of the Company, provides management consulting services to the Company. There is no formal written agreement that defines the compensation to be paid. For the three months ended March 31, 2021 and 2020 the Company recorded related party management fees of $51,142 and $16,500, respectively. During the year ended December 31, 2020, there were no advances from related parties, and the Company repaid $23,070 to its parent company, IHG. At March 31, 2021, a former officer of the Company was owed $18,780.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	3 Months Ended
	Mar. 31, 2021
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 9 – SUBSEQUENT EVENTS On March 31, 2021, the Company entered into a financing agreement with Power Up Lending Group to borrow $103,500. The note bears interest at 10%, with a default rate of 22%, and is convertible, commencing 180 days after the date of issuance. The conversion price is to be calculated at 63% of the lowest trading price of the Company’s common stock for the previous 20 trading days prior to the date of conversion. The lender agrees to limit the amount of stock received to less than 4.99% of the total outstanding common stock. There are no warrants or options attached to this note, and the Company has reserved 20,535,714 shares for conversion. On April 1, 2021, the Company received the net proceeds from the loan of $100,000, after legal fees and offering costs of $3,500. On April 12, 2021, Power Up elected to convert the total principal and interest due on their note of October 8, 2020 in the principal amount of $53,000 and $2,650 of accrued and unpaid interest thereon into 1,939,024 shares of the Company’s common stock at $0.0287 per share. On April 29, 2021, the Company entered into a financing agreement with Adar Alef, LLC to borrow $550,000. The note bears interest at 10%, with a default rate of 24%, and is convertible at the option of the holder, at any time after the date of issuance. The conversion price is to be calculated at 50% of the average of the three lowest closing bid prices of the Company’s common stock for the previous 20 trading days prior to the date of conversion. The lender agrees to limit the amount of stock received to less than 4.99% of the total outstanding common stock. There are no warrants or options attached to the note. The Company received the net proceeds from the loan of $462,000, after original issue discount, legal fees and offering costs of $88,000. The Company has analyzed its operations subsequent to March 31, 2021 through the date that these financial statements were issued, and has determined that it does not have any additional material subsequent events to disclose.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
Use of Estimates	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 and assumptions that affect reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Management bases its estimates on historical experience and on various assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. The Company’s significant estimates include income taxes provision and valuation allowance of deferred tax assets; the fair value of financial instruments; the carrying value and recoverability of long-lived assets, and the assumption that the Company will continue as a going concern. Those significant accounting estimates or assumptions bear the risk of change due to the fact that there are uncertainties attached to those estimates or assumptions, and certain estimates or assumptions are difficult to measure or value. Management regularly reviews its estimates utilizing currently available information, changes in facts and circumstances, historical experience and reasonable assumptions. After such reviews, and if deemed appropriate, those estimates are adjusted accordingly. Actual results could differ from those estimates.
Recent pronouncements	Recent pronouncements Management has evaluated accounting standards and interpretations issued but not yet effective as of March 31, 2021, and does not expect such pronouncements to have a material impact on the Company’s financial position, operations, or cash flows.
Reclassifications	Reclassifications Certain amounts in the consolidated financial statements for prior year periods have been reclassified to conform with the current year presentation.

WARRANTS (Tables)

WARRANTS (Tables)	3 Months Ended
	Mar. 31, 2021
Share-based Payment Arrangement [Abstract]
Summary of Warrants Activity	A summary of warrant activity during the three months ended March 31, 2021 is presented below: Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Life (Years) Outstanding and exercisable – December 31, 2020 540,000 $ 0.31 2.99 Exercised — Expired — Outstanding and exercisable – March 31, 2021 540,000 $ 0.31 2.74

CONVERTIBLE NOTES (Tables)

CONVERTIBLE NOTES (Tables)	3 Months Ended
	Mar. 31, 2021
Debt Disclosure [Abstract]
Schedule of Convertible Notes Payable	Convertible notes payable at March 31, 2021 and December 31, 2020 are summarized as follows: Holder Face Amount Interest Rate Due Date 2021 2020 GS Capital Partners $ 55,000 10 % December 2, 2021 $ 55,000 $ 55,000 Power UP Lending Group $ 43,000 10 % July 24, 2021 $ — $ 43,000 $ 53,000 10 % September 24, 2021 $ 53,000 $ 53,000 $ 43,500 10 % January 15, 2022 $ 43,500 $ — SE Holdings LLC $ 220,000 10 % January 26, 2022 $ 220,000 $ — Quick Capital LLC $ 33,275 10 % July 16, 2021 $ 33,275 $ 33,275 Discount $ (358,925 ) $ (158,390 ) $ 45,850 $ 25, 885

NATURE OF OPERATIONS AND BASI_2

NATURE OF OPERATIONS AND BASIS OF PRESENTATION (Details) - shares	1 Months Ended
	Jan. 25, 2016	Mar. 31, 2021	Dec. 31, 2020	Aug. 25, 2016
Schedule of Equity Method Investments [Line Items]
Shares issued to parent entity		107,307,525	101,063,806
Common Stock [Member]
Schedule of Equity Method Investments [Line Items]
Percentage of Company purchased		9.00%
International Hedge Group, Inc. [Member]
Schedule of Equity Method Investments [Line Items]
Percentage of Company purchased	95.00%
International Hedge Group, Inc. [Member] | Series A Preferred Stock [Member]
Schedule of Equity Method Investments [Line Items]
Shares issued to parent entity				1,000,000
Shares subject to anti-dilutive cancellation of shares	4,792,702
International Hedge Group, Inc. [Member] | Common Stock [Member]
Schedule of Equity Method Investments [Line Items]
Shares issued to parent entity	44,400,000
International Hedge Group, Inc. [Member] | Class A Preferred Stock [Member]
Schedule of Equity Method Investments [Line Items]
Shares issued to parent entity	1,000,000

GOING CONCERN (Details)

GOING CONCERN (Details) - USD ($)	Mar. 31, 2021	Dec. 31, 2020
Going Concern [Abstract]
Cash	$ 128,950
Working capital	7,367
Accumulated deficit	$ (6,288,502)	$ (5,966,193)

STOCKHOLDERS' EQUITY (DEFICIT)

STOCKHOLDERS' EQUITY (DEFICIT) (Details)	1 Months Ended		3 Months Ended
	Nov. 16, 2020USD ($)$ / sharesshares	Aug. 25, 2016shares	Mar. 31, 2021USD ($)$ / sharesshares	Dec. 31, 2020$ / sharesshares
Class of Stock [Line Items]
Preferred stock, par value per share | $ / shares			$ 0.001	$ 0.001
Preferred stock, shares authorized			10,000,000	10,000,000
Debt conversion shares issued, value | $			$ 86,827
Shares issued to parent entity			107,307,525	101,063,806
Common stock for conversion [Member]
Class of Stock [Line Items]
Debt conversion shares issued			2,894,231
Debt conversion shares issued, value | $			$ 45,150
Loss on note payable conversions | $			$ 41,677
Shares issued			2,666,666
Shares issued, value | $			$ 106,667
Shares issued price per share | $ / shares			$ 0.04
Common stock for conversion [Member] | Two individuals as partial consideration for loans [Member]
Class of Stock [Line Items]
Shares issued	300,000
Shares issued, value | $	$ 24,000
Shares issued price per share | $ / shares	$ 0.08
Consideration for finders fee for loans [Member]
Class of Stock [Line Items]
Shares issued			382,822
Shares issued, value | $			$ 11,200
Shares issued price per share | $ / shares			$ 0.029
International Hedge Group, Inc. [Member] | Series A Preferred Stock [Member]
Class of Stock [Line Items]
Shares issued to parent entity		1,000,000
Convertion rate of common shares to preferred stock		1

WARRANTS (Narrative) (Details)

WARRANTS (Narrative) (Details) - Warrant [Member] - USD ($)	12 Months Ended
	Dec. 31, 2019	Mar. 31, 2021
Warrants issued	$ 440,000
Warrant expense	132,953
Convertible note expense	$ 110,000
Black-Scholes [Member]
Warrants, exercise price per share	$ 0.25
Warrants, expiration period	5 years
Value of warrants	$ 132,953
Stock price	$ 0.38
Strike price	$ 0.25
Volatility	98.00%
Risk free rate	2.25%
Time to expiration	5 years
Intrinsic value of the outstanding warrants		$ 0

WARRANTS (Schedule of Warrant A

WARRANTS (Schedule of Warrant Activity) (Details) - Warrant [Member] - $ / shares	3 Months Ended	12 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Shares
Balance	540,000
Exercised
Expired
Balance	540,000	540,000
Weighted Average Exercise Price
Balance	$ 0.31
Balance	$ 0.31	$ 0.31
Weighted Average Remaining Contractual Life (Years)
Balance	2 years 8 months 26 days	2 years 11 months 26 days

CONVERTIBLE NOTES (Details)

CONVERTIBLE NOTES (Details) - USD ($)	Jan. 15, 2021	Dec. 04, 2020	Oct. 08, 2020	Jan. 28, 2021	Jan. 26, 2021	Nov. 23, 2020	Jul. 24, 2020	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020	Sep. 24, 2020
Short-term Debt [Line Items]
Convertible note								$ 45,850		$ 25,885
Legal fees								22,500	$ 3,000
Debt convert amount								86,827
Loss on debt conversion								(41,677)	$ (20,545)
Beneficial Conversion Feature								263,500
Power Up Lending Group [Member]
Short-term Debt [Line Items]
Interest rate	10.00%
Default rate of interest	22.00%
Company received net cash proceed	$ 40,000
Legal fees	$ 3,500
Shares reserved for conversion	20,871,651
Percentage of conversion	61.00%
Percentag of limit amount of stock	4.99%
Fair value of expense portion of note amortized	$ 43,500
Borrowed amount	$ 43,500
Quick Capital LLC [Member]
Short-term Debt [Line Items]
Interest rate						10.00%
Maturity date						Jul. 16, 2021
Default rate of interest						24.00%
Company received net cash proceed						$ 25,000
Legal fees						$ 8,275
Shares reserved for conversion						12,000,000
Percentage of conversion						60.00%
Percentag of limit amount of stock						4.99%
Fair value of expense portion of note amortized						$ 33,275
Borrowed amount						$ 33,275
SE Holdings LLC [Member]
Short-term Debt [Line Items]
Interest rate					10.00%
Default rate of interest					24.00%
Company received net cash proceed					$ 177,500
Legal fees					$ 22,500
Shares reserved for conversion					44,000,000
Percentage of conversion					50.00%
Percentag of limit amount of stock					4.99%
Debt discount					$ 20,000
Fair value of expense portion of note amortized					220,000
Borrowed amount					$ 220,000
GS Capital Partners LLC [Member]
Short-term Debt [Line Items]
Convertible note		$ 55,000						$ 55,000		$ 55,000
Interest rate		10.00%						10.00%
Maturity date		Dec. 2, 2021						Dec. 2, 2021
Company received net cash proceed		$ 4,500
Legal fees		$ 10,000
Percentage of conversion		50.00%
Percentag of limit amount of stock		4.99%
Fair value of expense portion of note amortized		$ 55,000
Beneficial Conversion Feature		$ 55,000
Borrowed amount								$ 55,000
Power Up [Member]
Short-term Debt [Line Items]
Convertible note							$ 43,000
Interest rate							10.00%
Maturity date				Jul. 24, 2020			Jul. 24, 2021
Default rate of interest							22.00%
Company received net cash proceed							$ 40,000
Legal fees							$ 3,000
Shares reserved for conversion							41,876,318
Percentage of conversion							61.00%
Percentag of limit amount of stock							4.99%
Fair value of expense portion of note amortized							$ 43,000
Debt convert amount				$ 43,000
Debt conversion shares issued				2,894,231
Debt convert conversion price				$ 0.0156
Loss on debt conversion				$ 41,677
Accrued interest				$ 2,150
Power Up [Member]
Short-term Debt [Line Items]
Convertible note											$ 53,000
Interest rate			10.00%
Default rate of interest			22.00%
Company received net cash proceed			$ 50,000
Legal fees			$ 3,000
Shares reserved for conversion			25,429,828
Percentage of conversion			61.00%
Percentag of limit amount of stock			4.99%
Fair value of expense portion of note amortized			$ 53,000

CONVERTIBLE NOTES (Schedule of

CONVERTIBLE NOTES (Schedule of Convertible Notes Payable) (Details) - USD ($)	Dec. 04, 2020	Mar. 31, 2021	Dec. 31, 2020
Short-term Debt [Line Items]
Discount		$ (358,925)	$ (158,390)
Convertible notes payable		45,850	25,885
GS Capital Partners LLC [Member]
Short-term Debt [Line Items]
Face Amount		$ 55,000
Interest Rate	10.00%	10.00%
Due Date	Dec. 2, 2021	Dec. 2, 2021
Convertible notes payable	$ 55,000	$ 55,000	55,000
Power Up Lending Group [Member]
Short-term Debt [Line Items]
Face Amount		$ 43,000
Interest Rate		10.00%
Due Date		Jul. 24, 2021
Convertible notes payable			43,000
Power Up Lending Group One [Member]
Short-term Debt [Line Items]
Face Amount		$ 53,000
Interest Rate		10.00%
Due Date		Sep. 24, 2021
Convertible notes payable		$ 53,000	53,000
Power Up Lending Group Two [Member]
Short-term Debt [Line Items]
Face Amount		$ 43,500
Interest Rate		10.00%
Due Date		Jan. 15, 2022
Convertible notes payable		$ 43,500
SE Holdings LLC [Member]
Short-term Debt [Line Items]
Face Amount		$ 220,000
Interest Rate		10.00%
Due Date		Jan. 26, 2022
Convertible notes payable		$ 220,000
Quick Capital LLC [Member]
Short-term Debt [Line Items]
Face Amount		$ 33,275
Interest Rate		10.00%
Due Date		Jul. 16, 2021
Convertible notes payable		$ 33,275	$ 33,275

NOTES PAYABLE (Narrative) (Deta

NOTES PAYABLE (Narrative) (Details) - USD ($)	1 Months Ended	3 Months Ended
	Nov. 18, 2020	Mar. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Note payable		$ 50,000	$ 50,000
Debt conversion shares issued, value		$ 86,827
Common stock, par value per share		$ 0.001	$ 0.001
Two individuals [Member]
Debt Instrument [Line Items]
Default rate of interest	11.00%
Maturity date	May 18, 2021
Accrued interest outstanding	$ 3,026
Common stock, shares issued	1,550,000
Debt conversion shares issued, value	$ 46,500
Common stock, par value per share	$ 0.03
Repayments of notes payable	$ 2,500
Two individuals [Member] | Aggregate Loan [Member]
Debt Instrument [Line Items]
Repayments of notes payable	5,000
Individual One [Member]
Debt Instrument [Line Items]
Note payable	20,000
Individual Two [Member]
Debt Instrument [Line Items]
Note payable	$ 30,000

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Related Party Transaction [Line Items]
Management consulting expense	$ 51,142	$ 16,500
Amount owed to related party	18,780		$ 18,780
Officer [Member]
Related Party Transaction [Line Items]
Amount owed to related party	$ 18,780
International Hedge Group, Inc. [Member]
Related Party Transaction [Line Items]
Amount owed to related party			$ 23,070

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - USD ($)	Apr. 12, 2021	Apr. 29, 2021	Mar. 31, 2021	Mar. 31, 2020
Subsequent Event [Line Items]
Debt conversion shares issued, value			$ 86,827
Legal fees			22,500	$ 3,000
Power Up Lending Group [Member]
Subsequent Event [Line Items]
Short term borrowings			$ 103,500
Interest rate of notes			10.00%
Default rate of interest			22.00%
Company received net cash proceed			$ 100,000
Legal fees			$ 3,500
Reserve of shares for conversion			20,535,714
Conversion price calculation percentage			63.00%
Percentag of limit amount of stock			4.99%
Power Up Lending Group [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Debt conversion shares issued	1,939,024
Debt conversion shares issued price per share	$ 0.0287
Debt conversion shares issued, value	$ 53,000
Accrued interest	$ 2,650
Adar Alef, LLC [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Short term borrowings		$ 550,000
Interest rate of notes		10.00%
Default rate of interest		24.00%
Company received net cash proceed		$ 462,000
Legal fees		$ 88,000
Conversion price calculation percentage		50.00%
Percentag of limit amount of stock		4.99%