Cover
Cover - shares | 6 Months Ended | |
Jun. 30, 2024 | Aug. 19, 2024 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Document Period End Date | Jun. 30, 2024 | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2024 | |
Current Fiscal Year End Date | --12-31 | |
Entity File Number | 000-56480 | |
Entity Registrant Name | QUEST WATER GLOBAL, INC. | |
Entity Central Index Key | 0001487091 | |
Entity Tax Identification Number | 27-1994359 | |
Entity Incorporation, State or Country Code | DE | |
Entity Address, Address Line One | Suite 209 – 828 Harbourside Drive | |
Entity Address, City or Town | North Vancouver | |
Entity Address, State or Province | BC | |
Entity Address, Country | CA | |
Entity Address, Postal Zip Code | V7P 3R9 | |
City Area Code | (888) | |
Local Phone Number | 897-5536 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 131,903,029 |
Condensed Consolidated Interim
Condensed Consolidated Interim Balance Sheets - USD ($) | Jun. 30, 2024 | Dec. 31, 2023 |
Current assets | ||
Cash | $ 3 | |
Prepaid expenses | 4,822 | 1,529 |
Total Current Assets | 4,822 | 1,532 |
Equipment, net (Note 4) | 417 | 667 |
Total assets | 5,239 | 2,199 |
Current liabilities | ||
Accounts payable and accrued liabilities | 67,956 | 62,387 |
Total liabilities | 2,125,513 | 1,837,103 |
Commitments and Contingencies | ||
Stockholders’ deficit | ||
Preferred stock, 5,000,000 shares authorized, $0.000001 par value 2 shares issued and outstanding | 1 | 1 |
Common stock, 500,000,000 shares authorized, $0.000001 par value 131,903,029 issued and outstanding (December 31, 2023 – 131,903,029) | 132 | 132 |
Additional paid-in capital | 10,187,703 | 10,000,348 |
Deficit | (12,308,110) | (11,835,385) |
Total stockholders’ deficit | (2,120,274) | (1,834,904) |
Total liabilities and stockholders’ deficit | 5,239 | 2,199 |
Related Company [Member] | ||
Current liabilities | ||
Due to related parties | 41,273 | 41,273 |
Related Party [Member] | ||
Current liabilities | ||
Due to related parties | $ 2,016,284 | $ 1,733,443 |
Condensed Consolidated Interi_2
Condensed Consolidated Interim Balance Sheets (Parenthetical) - $ / shares | Jun. 30, 2024 | Dec. 31, 2023 | Jun. 30, 2023 | Dec. 31, 2022 |
Statement of Financial Position [Abstract] | ||||
Preferred stock, shares authorized | 5,000,000 | 5,000,000 | 5,000,000 | |
Preferred stock, par value | $ 0.000001 | $ 0.000001 | $ 0.000001 | |
Preferred stock, shares issued | 2 | 2 | 2 | |
Preferred stock, shares outstanding | 2 | 2 | 2 | |
Common stock, shares authorized | 500,000,000 | 500,000,000 | 500,000,000 | |
Common stock, par value | $ 0.000001 | $ 0.000001 | $ 0.000001 | |
Common stock, shares issued | 131,903,029 | 131,903,029 | 131,903,029 | 131,903,029 |
Common stock, shares outstanding | 131,903,029 | 131,903,029 | 131,903,029 | 131,903,029 |
Condensed Consolidated Interi_3
Condensed Consolidated Interim Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Expenses | ||||
Automotive | $ 806 | $ 2,148 | $ 1,692 | $ 4,607 |
Depreciation | 125 | 125 | 250 | 250 |
Management fees | 123,750 | 123,750 | 247,500 | 247,500 |
Office and miscellaneous | 941 | 1,935 | 1,758 | 4,113 |
Professional fees | 8,374 | 10,594 | 22,306 | 13,563 |
Rent | 5,250 | 10,500 | ||
Telephone | 628 | 816 | 1,518 | 1,738 |
Transfer agent and filing fees | 5,791 | 6,412 | 10,346 | 11,170 |
Consulting fees | 187,355 | |||
Total expenses | 140,415 | 151,030 | 472,725 | 293,441 |
Loss before other income | (140,415) | (151,030) | (472,725) | (293,441) |
Net loss and comprehensive loss | $ (140,415) | $ (151,030) | $ (472,725) | $ (293,441) |
Net loss per share, basic | $ (0.001) | $ (0.001) | $ (0.004) | $ (0.002) |
Net loss per share, diluted | $ (0.001) | $ (0.001) | $ (0.004) | $ (0.002) |
Weighted average number of shares outstanding, basic | 131,903,029 | 131,903,029 | 131,903,029 | 131,903,029 |
Weighted average number of shares outstanding, diluted | 131,903,029 | 131,903,029 | 131,903,029 | 131,903,029 |
Condensed Consolidated Interi_4
Condensed Consolidated Interim Statements of Stockholder's Deficit (Unaudited) - USD ($) | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Balance at Dec. 31, 2022 | $ 1 | $ 132 | $ 10,000,348 | $ (11,239,372) | $ (1,238,891) |
Balance, shares at Dec. 31, 2022 | 2 | 131,903,029 | |||
Net loss for the period | (142,411) | (142,411) | |||
Balance at Mar. 31, 2023 | $ 1 | $ 132 | 10,000,348 | (11,381,783) | (1,381,302) |
Balance, shares at Mar. 31, 2023 | 2 | 131,903,029 | |||
Balance at Dec. 31, 2022 | $ 1 | $ 132 | 10,000,348 | (11,239,372) | (1,238,891) |
Balance, shares at Dec. 31, 2022 | 2 | 131,903,029 | |||
Net loss for the period | (293,441) | ||||
Balance at Jun. 30, 2023 | $ 1 | $ 132 | 10,000,348 | (11,532,813) | (1,532,332) |
Balance, shares at Jun. 30, 2023 | 2 | 131,903,029 | |||
Balance at Mar. 31, 2023 | $ 1 | $ 132 | 10,000,348 | (11,381,783) | (1,381,302) |
Balance, shares at Mar. 31, 2023 | 2 | 131,903,029 | |||
Net loss for the period | (151,030) | (151,030) | |||
Balance at Jun. 30, 2023 | $ 1 | $ 132 | 10,000,348 | (11,532,813) | (1,532,332) |
Balance, shares at Jun. 30, 2023 | 2 | 131,903,029 | |||
Balance at Dec. 31, 2023 | $ 1 | $ 132 | 10,000,348 | (11,835,385) | (1,834,904) |
Balance, shares at Dec. 31, 2023 | 2 | 131,903,029 | |||
Stock based compensation | 187,355 | 187,355 | |||
Net loss for the period | (332,310) | (332,310) | |||
Balance at Mar. 31, 2024 | $ 1 | $ 132 | 10,187,703 | (12,167,695) | (1,979,859) |
Balance, shares at Mar. 31, 2024 | 2 | 131,903,029 | |||
Balance at Dec. 31, 2023 | $ 1 | $ 132 | 10,000,348 | (11,835,385) | (1,834,904) |
Balance, shares at Dec. 31, 2023 | 2 | 131,903,029 | |||
Net loss for the period | (472,725) | ||||
Balance at Jun. 30, 2024 | $ 1 | $ 132 | 10,187,703 | (12,308,110) | (2,120,274) |
Balance, shares at Jun. 30, 2024 | 2 | 131,903,029 | |||
Balance at Mar. 31, 2024 | $ 1 | $ 132 | 10,187,703 | (12,167,695) | (1,979,859) |
Balance, shares at Mar. 31, 2024 | 2 | 131,903,029 | |||
Net loss for the period | (140,415) | (140,415) | |||
Balance at Jun. 30, 2024 | $ 1 | $ 132 | $ 10,187,703 | $ (12,308,110) | $ (2,120,274) |
Balance, shares at Jun. 30, 2024 | 2 | 131,903,029 |
Consolidated Interim Statements
Consolidated Interim Statements of Cash Flows (Unaudited) - USD ($) | 6 Months Ended | |
Jun. 30, 2024 | Jun. 30, 2023 | |
Cash Flows from Operating Activities: | ||
Net loss for the period | $ (472,725) | $ (293,441) |
Depreciation | 250 | 250 |
Stock based compensation | 187,355 | |
Changes in operating assets and liabilities: | ||
Prepaids | (3,293) | (3,553) |
Accounts payable and accrued liabilities | 5,569 | 10,690 |
Due to related company | (7,538) | |
Net cash provided by (used in) operating activities | (282,844) | (293,592) |
Cash Flows from Investing Activities: | ||
Equipment purchase | ||
Net cash used in investing activities | ||
Cash Flows from Financing Activities: | ||
Advances from related parties | 282,841 | 293,592 |
Net cash provided by financing activities | 282,841 | 293,592 |
Change in cash | (3) | |
Cash, beginning of period | 3 | |
Cash, end of period | ||
Supplemental disclosures: | ||
Interest paid | ||
Income tax paid |
Nature of Operations and Contin
Nature of Operations and Continuance of Business | 6 Months Ended |
Jun. 30, 2024 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Nature of Operations and Continuance of Business | 1. Nature of Operations and Continuance of Business Quest Water Global, Inc. (the “Company”) was incorporated on February 25, 2010, under the laws of the State of Delaware. The Company is an innovative water technology company that provides solutions to water scarce regions. The Company’s operations to date have been limited primarily to capital formation, organization, and development of its business plan. These condensed consolidated interim financial statements have been prepared on a going concern basis, which implies the Company will continue to realize its assets and discharge its liabilities in the normal course of business. As at June 30, 2024, the Company has a working capital deficiency of $ 2,120,691 2,016,284 12,308,110 |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2024 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | 2. Summary of Significant Accounting Policies (a) Basis of Presentation and Principles of Consolidation These condensed consolidated interim financial statements and related notes are presented in accordance with accounting principles generally accepted in the United States (“US GAAP”) and are expressed in US dollars. These consolidated financial statements include the accounts of the Company; the Company’s wholly-owned subsidiary Quest Water Solutions, Inc., a company incorporated under the laws of the State of Nevada (“Quest Nevada”); AQUAtap Global, Inc., a company incorporated under the laws of the State of Wyoming; and Quest Nevada’s wholly-owned subsidiary, Quest Water Solutions Inc., a company incorporated under the laws of the Province of British Columbia, Canada. All inter-company balances and transactions have been eliminated on consolidation. (b) Interim Financial Statements The accompanying condensed consolidated interim financial statements of the Company should be read in conjunction with the consolidated financial statements and accompanying notes for the fiscal year ended December 31, 2023. In the opinion of management, the accompanying condensed consolidated interim financial statements reflect all adjustments of a recurring nature considered necessary to present fairly the Company’s financial position and the results of its operations and its cash flows for the periods shown. The preparation of these condensed consolidated financial statements in accordance with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the amounts reported. Actual results could differ materially from those estimates. The results of operations and cash flows for the periods shown are not necessarily indicative of the results to be expected for the full year. (c) Foreign Currency Translation The Company’s functional currency is US dollars. Transactions in foreign currencies are translated into the currency of measurement at the exchange rates in effect on the transaction date. Monetary balance sheet items expressed in foreign currencies are translated into US dollars at the exchange rates in effect at the balance sheet date. The resulting exchange gains and losses are recognized in income. The Company’s integrated foreign subsidiaries are financially or operationally dependent on the Company. The Company uses the temporal method to translate the accounts of its integrated operations into US dollars. Monetary assets and liabilities are translated at the exchange rates in effect at the balance sheet date. Non-monetary assets and liabilities are translated at historical rates. Revenues and expenses are translated at average rates for the period, except for amortization, which is translated on the same basis as the related asset. The resulting exchange gains or losses are recognized in income. (d) Stock-based Compensation The Company records stock-based compensation in accordance with ASC 718, “Compensation – Stock Compensation”, using the fair value method. All transactions in which goods or services are the consideration received for the issuance of equity instruments are accounted for based on the fair value of the consideration received or the fair value of the equity instrument issued, whichever is more reliably measurable. The Company uses the Black-Scholes option pricing model to calculate the fair value of stock-based awards. This model is affected by the Company’s stock price as well as assumptions regarding a number of subjective variables. These subjective variables include, but are not limited to, the Company’s expected stock price volatility over the term of the awards, and actual and projected employee stock option exercise behaviors. The value of the portion of the award that is ultimately expected to vest is recognized as an expense in the consolidated statement of operations over the requisite service period. (e) Recent Accounting Pronouncements The Company has implemented all new accounting pronouncements that are in effect and that may impact its financial statements and does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations. |
Investment in and Due to Relate
Investment in and Due to Related Company | 6 Months Ended |
Jun. 30, 2024 | |
Investments, All Other Investments [Abstract] | |
Investment in and Due to Related Company | 3. Investment in and Due to Related Company During the year ended December 31, 2019, the Company invested $ 7,600 38 42,732 Schedule of Restatement of Financial Statements Restatement For the Consolidated Balance Sheet for June 30, 2023 Originally Reported Change As Restated ASSETS Current assets Cash $ - - $ - Prepaid expenses 4,647 - 4,647 Total current assets 4,647 - 4,647 Equipment, net (Note 4) 917 - 917 Total assets $ 5,564 - $ 5,564 LIABILITIES AND STOCKHOLDERS’ DEFICIT Current liabilities Accounts payable and accrued liabilities $ 48,388 - $ 48,388 Investment in partnership, related (Note 3) 42,732 (42,732 ) - Due to related company (Note 3) 42,303 - 42,303 Due to related parties (Note 5) 1,447,205 - 1,447,205 Due to related parties 1,447,205 - 1,447,205 Total liabilities 1,580,628 (42,732 ) 1,537,896 Stockholders’ deficit Preferred stock, 5,000,000 0.000001 2 $ 1 - $ 1 Common stock, 500,000,000 0.000001 131,903,029 131,903,029 132 - 132 Additional paid-in capital 10,000,348 - 10,000,348 Deficit (11,575,545 ) 42,732 (11,532,813 ) Total stockholders’ deficit (1,575,064 ) 42,732 (1,532,332 ) Total liabilities and stockholders’ deficit $ 5,564 - $ 5,564 Consolidated Statements of Operations and Comprehensive Loss Originally Reported Change As Restated For June 30, 2023 Expenses Automotive $ 4,607 - $ 4,607 Depreciation 250 - 250 Management fees 247,500 - 247,500 Office and miscellaneous 3,643 470 4,113 Professional fees 13,563 - 13,563 Rent 10,970 (470 ) 10,500 Telephone 1,738 - 1,738 Transfer agent and filing fees 11,170 - 11,170 Total expenses 293,441 - 293,441 Loss before other income (293,441 ) - (293,441 ) Other income (expense) Decrease in equity of investment in partnership (8,752 ) 8,752 - Net loss and comprehensive loss $ (302,193 ) 8,752 $ (293,441 ) Net loss per share, basic and diluted $ (0.002 ) $ (0.002 ) Weighted average number of shares outstanding, basic and diluted 131,903,029 131,903,029 Originally Consolidated Statements of Cash Flows for June 30, 2023 Reported Change As Restated Operating Activities: Net loss for the period $ (302,193 ) $ 8,752 (293,441 ) Decrease in equity of partnership investment 8,752 (8,752 ) - Depreciation 250 - 250 Changes in operating assets and liabilities: Prepaids (3,553 ) - (3,553 ) Accounts payable and accrued liabilities 10,690 - 10,690 Due to related company (21,359 ) - (21,359 ) Due to related parties 293,592 (293,592 ) - Net cash used in operating activities - (293,592 ) (293,592 ) Cash flows from investing activities: Equipment purchase - - - Net cash used in investing activities - - - Cash flows from financing activities: Advances from related parties - 293,592 293,592 Net cash provided by financing activities - 293,592 293,592 Change in cash - - (4,227 ) Cash, beginning of period - - 4,227 Cash, end of period $ - $ – $ - Supplemental disclosures: Interest paid $ – $ – $ - Income tax paid $ – $ – $ - The due to related company amounts pertain to funds received on behalf of AQUAtap relating to rights agreements for water units. As at June 30, 2024, a balance of $ 41,273 41,273 |
Equipment
Equipment | 6 Months Ended |
Jun. 30, 2024 | |
Property, Plant and Equipment [Abstract] | |
Equipment | 4. Equipment Equipment is depreciated over its useful life of three years Schedule of Equipment June 30, December 31, 2024 2023 Computer Cost $ 1,500 $ 1,500 Depreciation 1,083 833 Net $ 417 $ 667 |
Related Party Transactions
Related Party Transactions | 6 Months Ended |
Jun. 30, 2024 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | 5. Related Party Transactions (a) As at June 30, 2024, a total of $ 948,030 643,910 (b) As at June 30, 2024, a total of $ 1,068,254 803,295 (c) For the six months ended June 30, 2024, the Company incurred a total of $ 247,500 247,500 (d) For the six months ended June 30, 2023, the Company incurred $ 10,500 |
Common Stock
Common Stock | 6 Months Ended |
Jun. 30, 2024 | |
Equity [Abstract] | |
Common Stock | 6. Common Stock At June 30, 2024, the Company had 131,903,029 131,903,029 The calculation of the basic and diluted loss per share for the six months ended June 30, 2024 was based on the loss attributable to common stockholders of $ 472,725 596,013 131,903,029 131,903,029 At June 30, 2024, 10,050,000 6,300,000 |
Share Based Payments
Share Based Payments | 6 Months Ended |
Jun. 30, 2024 | |
Share-Based Payment Arrangement [Abstract] | |
Share Based Payments | 7. Share Based Payments Stock Options The Company adopted a stock option plan in May 2012 (the “Plan”) under which it is authorized to grant options to directors, officers, employees and consultants enabling them to acquire up to a maximum of 10 10 Stock option transactions are summarized as follows: Schedule of Stock Option Transactions Number of Weighted Average Options Exercise Price Balance, December 31, 2022 6,300,000 $ 0.10 Balance, December 31, 2023 6,300,000 $ 0.10 Granted 3,750,000 0.10 Balance, June 30, 2024 10,050,000 $ 0.10 Exercisable at June 30, 2024 10,050,000 $ 0.10 Weighted average fair value of options granted $ 0.10 The following weighted average assumption were used for the Black-Scholes valuation of the stock options granted: Schedule of Weighted Average Assumption of Stock Option Granted June 30, 2024 December 31, 2023 Risk-free interest rate 4.02 % 3.17 % Expected life of options 5 5 Annualized volatility 294.32 % 306.66 % Dividend rate Nil Nil The stock options granted effective January 4, 2024 have a 5 0.05 0.10 4.50 The stock options outstanding and exercisable at December 31, 2023 were granted effective July 20, 2022 and have a 5 0.10 0.10 3.04 |
Operating Segment
Operating Segment | 6 Months Ended |
Jun. 30, 2024 | |
Segment Reporting [Abstract] | |
Operating Segment | 8. Operating Segment The Company has only one |
South African Partnership
South African Partnership | 6 Months Ended |
Jun. 30, 2024 | |
South African Partnership | |
South African Partnership | 9. South African Partnership On October 12, 2023, the Company entered into a partnership with Yonga Industries (Pty) Ltd. and Yorown Energy (Pty) Ltd. to form AQUAtap Oasis South Africa (Pty) Ltd. The Company holds a 49 |
Subsequent Event
Subsequent Event | 6 Months Ended |
Jun. 30, 2024 | |
Subsequent Events [Abstract] | |
Subsequent Event | 10. Subsequent Event The Company has evaluated all subsequent events as of the date that these financial statements were available to be issued and has determined that there are no events that require disclosure as of the date of issuance. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2024 | |
Accounting Policies [Abstract] | |
Basis of Presentation and Principles of Consolidation | (a) Basis of Presentation and Principles of Consolidation These condensed consolidated interim financial statements and related notes are presented in accordance with accounting principles generally accepted in the United States (“US GAAP”) and are expressed in US dollars. These consolidated financial statements include the accounts of the Company; the Company’s wholly-owned subsidiary Quest Water Solutions, Inc., a company incorporated under the laws of the State of Nevada (“Quest Nevada”); AQUAtap Global, Inc., a company incorporated under the laws of the State of Wyoming; and Quest Nevada’s wholly-owned subsidiary, Quest Water Solutions Inc., a company incorporated under the laws of the Province of British Columbia, Canada. All inter-company balances and transactions have been eliminated on consolidation. |
Interim Financial Statements | (b) Interim Financial Statements The accompanying condensed consolidated interim financial statements of the Company should be read in conjunction with the consolidated financial statements and accompanying notes for the fiscal year ended December 31, 2023. In the opinion of management, the accompanying condensed consolidated interim financial statements reflect all adjustments of a recurring nature considered necessary to present fairly the Company’s financial position and the results of its operations and its cash flows for the periods shown. The preparation of these condensed consolidated financial statements in accordance with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the amounts reported. Actual results could differ materially from those estimates. The results of operations and cash flows for the periods shown are not necessarily indicative of the results to be expected for the full year. |
Foreign Currency Translation | (c) Foreign Currency Translation The Company’s functional currency is US dollars. Transactions in foreign currencies are translated into the currency of measurement at the exchange rates in effect on the transaction date. Monetary balance sheet items expressed in foreign currencies are translated into US dollars at the exchange rates in effect at the balance sheet date. The resulting exchange gains and losses are recognized in income. The Company’s integrated foreign subsidiaries are financially or operationally dependent on the Company. The Company uses the temporal method to translate the accounts of its integrated operations into US dollars. Monetary assets and liabilities are translated at the exchange rates in effect at the balance sheet date. Non-monetary assets and liabilities are translated at historical rates. Revenues and expenses are translated at average rates for the period, except for amortization, which is translated on the same basis as the related asset. The resulting exchange gains or losses are recognized in income. |
Stock-based Compensation | (d) Stock-based Compensation The Company records stock-based compensation in accordance with ASC 718, “Compensation – Stock Compensation”, using the fair value method. All transactions in which goods or services are the consideration received for the issuance of equity instruments are accounted for based on the fair value of the consideration received or the fair value of the equity instrument issued, whichever is more reliably measurable. The Company uses the Black-Scholes option pricing model to calculate the fair value of stock-based awards. This model is affected by the Company’s stock price as well as assumptions regarding a number of subjective variables. These subjective variables include, but are not limited to, the Company’s expected stock price volatility over the term of the awards, and actual and projected employee stock option exercise behaviors. The value of the portion of the award that is ultimately expected to vest is recognized as an expense in the consolidated statement of operations over the requisite service period. |
Recent Accounting Pronouncements | (e) Recent Accounting Pronouncements The Company has implemented all new accounting pronouncements that are in effect and that may impact its financial statements and does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations. |
Investment in and Due to Rela_2
Investment in and Due to Related Company (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
Investments, All Other Investments [Abstract] | |
Schedule of Restatement of Financial Statements | Schedule of Restatement of Financial Statements Restatement For the Consolidated Balance Sheet for June 30, 2023 Originally Reported Change As Restated ASSETS Current assets Cash $ - - $ - Prepaid expenses 4,647 - 4,647 Total current assets 4,647 - 4,647 Equipment, net (Note 4) 917 - 917 Total assets $ 5,564 - $ 5,564 LIABILITIES AND STOCKHOLDERS’ DEFICIT Current liabilities Accounts payable and accrued liabilities $ 48,388 - $ 48,388 Investment in partnership, related (Note 3) 42,732 (42,732 ) - Due to related company (Note 3) 42,303 - 42,303 Due to related parties (Note 5) 1,447,205 - 1,447,205 Due to related parties 1,447,205 - 1,447,205 Total liabilities 1,580,628 (42,732 ) 1,537,896 Stockholders’ deficit Preferred stock, 5,000,000 0.000001 2 $ 1 - $ 1 Common stock, 500,000,000 0.000001 131,903,029 131,903,029 132 - 132 Additional paid-in capital 10,000,348 - 10,000,348 Deficit (11,575,545 ) 42,732 (11,532,813 ) Total stockholders’ deficit (1,575,064 ) 42,732 (1,532,332 ) Total liabilities and stockholders’ deficit $ 5,564 - $ 5,564 Consolidated Statements of Operations and Comprehensive Loss Originally Reported Change As Restated For June 30, 2023 Expenses Automotive $ 4,607 - $ 4,607 Depreciation 250 - 250 Management fees 247,500 - 247,500 Office and miscellaneous 3,643 470 4,113 Professional fees 13,563 - 13,563 Rent 10,970 (470 ) 10,500 Telephone 1,738 - 1,738 Transfer agent and filing fees 11,170 - 11,170 Total expenses 293,441 - 293,441 Loss before other income (293,441 ) - (293,441 ) Other income (expense) Decrease in equity of investment in partnership (8,752 ) 8,752 - Net loss and comprehensive loss $ (302,193 ) 8,752 $ (293,441 ) Net loss per share, basic and diluted $ (0.002 ) $ (0.002 ) Weighted average number of shares outstanding, basic and diluted 131,903,029 131,903,029 Originally Consolidated Statements of Cash Flows for June 30, 2023 Reported Change As Restated Operating Activities: Net loss for the period $ (302,193 ) $ 8,752 (293,441 ) Decrease in equity of partnership investment 8,752 (8,752 ) - Depreciation 250 - 250 Changes in operating assets and liabilities: Prepaids (3,553 ) - (3,553 ) Accounts payable and accrued liabilities 10,690 - 10,690 Due to related company (21,359 ) - (21,359 ) Due to related parties 293,592 (293,592 ) - Net cash used in operating activities - (293,592 ) (293,592 ) Cash flows from investing activities: Equipment purchase - - - Net cash used in investing activities - - - Cash flows from financing activities: Advances from related parties - 293,592 293,592 Net cash provided by financing activities - 293,592 293,592 Change in cash - - (4,227 ) Cash, beginning of period - - 4,227 Cash, end of period $ - $ – $ - Supplemental disclosures: Interest paid $ – $ – $ - Income tax paid $ – $ – $ - |
Equipment (Tables)
Equipment (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
Property, Plant and Equipment [Abstract] | |
Schedule of Equipment | Equipment is depreciated over its useful life of three years Schedule of Equipment June 30, December 31, 2024 2023 Computer Cost $ 1,500 $ 1,500 Depreciation 1,083 833 Net $ 417 $ 667 |
Share Based Payments (Tables)
Share Based Payments (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
Share-Based Payment Arrangement [Abstract] | |
Schedule of Stock Option Transactions | Stock option transactions are summarized as follows: Schedule of Stock Option Transactions Number of Weighted Average Options Exercise Price Balance, December 31, 2022 6,300,000 $ 0.10 Balance, December 31, 2023 6,300,000 $ 0.10 Granted 3,750,000 0.10 Balance, June 30, 2024 10,050,000 $ 0.10 Exercisable at June 30, 2024 10,050,000 $ 0.10 Weighted average fair value of options granted $ 0.10 |
Schedule of Weighted Average Assumption of Stock Option Granted | The following weighted average assumption were used for the Black-Scholes valuation of the stock options granted: Schedule of Weighted Average Assumption of Stock Option Granted June 30, 2024 December 31, 2023 Risk-free interest rate 4.02 % 3.17 % Expected life of options 5 5 Annualized volatility 294.32 % 306.66 % Dividend rate Nil Nil |
Nature of Operations and Cont_2
Nature of Operations and Continuance of Business (Details Narrative) - USD ($) | Jun. 30, 2024 | Dec. 31, 2023 |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Working capital deficiency | $ 2,120,691 | |
Liability of principal stockholders | 2,016,284 | |
Accumulated deficit | $ 12,308,110 | $ 11,835,385 |
Schedule of Restatement of Cons
Schedule of Restatement of Consolidated Balance Sheet (Details) - USD ($) | Jun. 30, 2024 | Mar. 31, 2024 | Dec. 31, 2023 | Jun. 30, 2023 | Mar. 31, 2023 | Dec. 31, 2022 |
Current assets | ||||||
Cash | $ 3 | |||||
Prepaid expenses | 4,822 | 1,529 | ||||
Total Current Assets | 4,822 | 1,532 | ||||
Equipment, net (Note 4) | 417 | 667 | ||||
Total assets | 5,239 | 2,199 | ||||
Current liabilities | ||||||
Accounts payable and accrued liabilities | 67,956 | 62,387 | ||||
Total liabilities | 2,125,513 | 1,837,103 | ||||
Stockholders’ deficit | ||||||
Preferred stock, 5,000,000 shares authorized, $0.000001 par value 2 shares issued and outstanding | 1 | 1 | ||||
Common stock, 500,000,000 shares authorized, $0.000001 par value 131,903,029 issued and outstanding (December 31, 2022 – 131,903,029) | 132 | 132 | ||||
Additional paid-in capital | 10,187,703 | 10,000,348 | ||||
Deficit | (12,308,110) | (11,835,385) | ||||
Total stockholders’ deficit | (2,120,274) | $ (1,979,859) | (1,834,904) | $ (1,532,332) | $ (1,381,302) | $ (1,238,891) |
Total liabilities and stockholders’ deficit | 5,239 | 2,199 | ||||
Related Company [Member] | ||||||
Current liabilities | ||||||
Due to related parties | 41,273 | 41,273 | ||||
Related Party [Member] | ||||||
Current liabilities | ||||||
Due to related parties | $ 2,016,284 | $ 1,733,443 | ||||
Previously Reported [Member] | ||||||
Current assets | ||||||
Cash | ||||||
Prepaid expenses | 4,647 | |||||
Total Current Assets | 4,647 | |||||
Equipment, net (Note 4) | 917 | |||||
Total assets | 5,564 | |||||
Current liabilities | ||||||
Accounts payable and accrued liabilities | 48,388 | |||||
Investment in partnership, related (Note 3) | 42,732 | |||||
Total liabilities | 1,580,628 | |||||
Stockholders’ deficit | ||||||
Preferred stock, 5,000,000 shares authorized, $0.000001 par value 2 shares issued and outstanding | 1 | |||||
Common stock, 500,000,000 shares authorized, $0.000001 par value 131,903,029 issued and outstanding (December 31, 2022 – 131,903,029) | 132 | |||||
Additional paid-in capital | 10,000,348 | |||||
Deficit | (11,575,545) | |||||
Total stockholders’ deficit | (1,575,064) | |||||
Total liabilities and stockholders’ deficit | 5,564 | |||||
Previously Reported [Member] | Related Company [Member] | ||||||
Current liabilities | ||||||
Due to related parties | 42,303 | |||||
Previously Reported [Member] | Related Party [Member] | ||||||
Current liabilities | ||||||
Due to related parties | 1,447,205 | |||||
Revision of Prior Period, Reclassification, Adjustment [Member] | ||||||
Current assets | ||||||
Cash | ||||||
Prepaid expenses | ||||||
Total Current Assets | ||||||
Equipment, net (Note 4) | ||||||
Total assets | ||||||
Current liabilities | ||||||
Accounts payable and accrued liabilities | ||||||
Investment in partnership, related (Note 3) | (42,732) | |||||
Total liabilities | (42,732) | |||||
Stockholders’ deficit | ||||||
Preferred stock, 5,000,000 shares authorized, $0.000001 par value 2 shares issued and outstanding | ||||||
Common stock, 500,000,000 shares authorized, $0.000001 par value 131,903,029 issued and outstanding (December 31, 2022 – 131,903,029) | ||||||
Additional paid-in capital | ||||||
Deficit | 42,732 | |||||
Total stockholders’ deficit | 42,732 | |||||
Total liabilities and stockholders’ deficit | ||||||
Revision of Prior Period, Reclassification, Adjustment [Member] | Related Company [Member] | ||||||
Current liabilities | ||||||
Due to related parties | ||||||
Revision of Prior Period, Reclassification, Adjustment [Member] | Related Party [Member] | ||||||
Current liabilities | ||||||
Due to related parties | ||||||
Restated [Member] | ||||||
Current assets | ||||||
Cash | ||||||
Prepaid expenses | 4,647 | |||||
Total Current Assets | 4,647 | |||||
Equipment, net (Note 4) | 917 | |||||
Total assets | 5,564 | |||||
Current liabilities | ||||||
Accounts payable and accrued liabilities | 48,388 | |||||
Investment in partnership, related (Note 3) | ||||||
Total liabilities | 1,537,896 | |||||
Stockholders’ deficit | ||||||
Preferred stock, 5,000,000 shares authorized, $0.000001 par value 2 shares issued and outstanding | 1 | |||||
Common stock, 500,000,000 shares authorized, $0.000001 par value 131,903,029 issued and outstanding (December 31, 2022 – 131,903,029) | 132 | |||||
Additional paid-in capital | 10,000,348 | |||||
Deficit | (11,532,813) | |||||
Total stockholders’ deficit | (1,532,332) | |||||
Total liabilities and stockholders’ deficit | 5,564 | |||||
Restated [Member] | Related Company [Member] | ||||||
Current liabilities | ||||||
Due to related parties | 42,303 | |||||
Restated [Member] | Related Party [Member] | ||||||
Current liabilities | ||||||
Due to related parties | $ 1,447,205 |
Schedule of Restatement of Co_2
Schedule of Restatement of Consolidated Balance Sheet (Details) (Parenthetical) - $ / shares | Jun. 30, 2024 | Dec. 31, 2023 | Jun. 30, 2023 | Dec. 31, 2022 |
Investments, All Other Investments [Abstract] | ||||
Preferred stock, shares authorized | 5,000,000 | 5,000,000 | 5,000,000 | |
Preferred stock, par value | $ 0.000001 | $ 0.000001 | $ 0.000001 | |
Preferred stock, shares issued | 2 | 2 | 2 | |
Preferred stock, shares outstanding | 2 | 2 | 2 | |
Common stock, shares authorized | 500,000,000 | 500,000,000 | 500,000,000 | |
Common stock, par value | $ 0.000001 | $ 0.000001 | $ 0.000001 | |
Common stock, shares issued | 131,903,029 | 131,903,029 | 131,903,029 | 131,903,029 |
Common stock, shares outstanding | 131,903,029 | 131,903,029 | 131,903,029 | 131,903,029 |
Schedule of Restatement of Co_3
Schedule of Restatement of Consolidated Statements of Operations and Comprehensive Loss (Details) - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||
Jun. 30, 2024 | Mar. 31, 2024 | Jun. 30, 2023 | Mar. 31, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | Dec. 31, 2023 | |
Expenses | |||||||
Automotive | $ 806 | $ 2,148 | $ 1,692 | $ 4,607 | |||
Depreciation | 125 | 125 | 250 | 250 | |||
Management fees | 123,750 | 123,750 | 247,500 | 247,500 | |||
Office and miscellaneous | 941 | 1,935 | 1,758 | 4,113 | |||
Professional fees | 8,374 | 10,594 | 22,306 | 13,563 | |||
Rent | 5,250 | 10,500 | |||||
Telephone | 628 | 816 | 1,518 | 1,738 | |||
Transfer agent and filing fees | 5,791 | 6,412 | 10,346 | 11,170 | |||
Total expenses | 140,415 | 151,030 | 472,725 | 293,441 | |||
Loss before other income | (140,415) | (151,030) | (472,725) | (293,441) | |||
Other income (expense) | |||||||
Net loss and comprehensive loss | $ (140,415) | $ (332,310) | $ (151,030) | $ (142,411) | $ (472,725) | $ (293,441) | |
Net loss per share, basic | $ (0.001) | $ (0.001) | $ (0.004) | $ (0.002) | |||
Net loss per share, diluted | $ (0.001) | $ (0.001) | $ (0.004) | $ (0.002) | |||
Weighted average number of shares outstanding, basic | 131,903,029 | 131,903,029 | 131,903,029 | 131,903,029 | 131,903,029 | ||
Weighted average number of shares outstanding, diluted | 131,903,029 | 131,903,029 | 131,903,029 | 131,903,029 | |||
Previously Reported [Member] | |||||||
Expenses | |||||||
Automotive | $ 4,607 | ||||||
Depreciation | 250 | ||||||
Management fees | 247,500 | ||||||
Office and miscellaneous | 3,643 | ||||||
Professional fees | 13,563 | ||||||
Rent | 10,970 | ||||||
Telephone | 1,738 | ||||||
Transfer agent and filing fees | 11,170 | ||||||
Total expenses | 293,441 | ||||||
Loss before other income | (293,441) | ||||||
Other income (expense) | |||||||
Decrease in equity of investment in partnership | (8,752) | ||||||
Net loss and comprehensive loss | $ (302,193) | ||||||
Net loss per share, basic | $ (0.002) | ||||||
Net loss per share, diluted | $ (0.002) | ||||||
Weighted average number of shares outstanding, basic | 131,903,029 | ||||||
Weighted average number of shares outstanding, diluted | 131,903,029 | ||||||
Revision of Prior Period, Reclassification, Adjustment [Member] | |||||||
Expenses | |||||||
Automotive | |||||||
Depreciation | |||||||
Management fees | |||||||
Office and miscellaneous | 470 | ||||||
Professional fees | |||||||
Rent | (470) | ||||||
Telephone | |||||||
Transfer agent and filing fees | |||||||
Total expenses | |||||||
Loss before other income | |||||||
Other income (expense) | |||||||
Decrease in equity of investment in partnership | 8,752 | ||||||
Net loss and comprehensive loss | 8,752 | ||||||
Restated [Member] | |||||||
Expenses | |||||||
Automotive | 4,607 | ||||||
Depreciation | 250 | ||||||
Management fees | 247,500 | ||||||
Office and miscellaneous | 4,113 | ||||||
Professional fees | 13,563 | ||||||
Rent | 10,500 | ||||||
Telephone | 1,738 | ||||||
Transfer agent and filing fees | 11,170 | ||||||
Total expenses | 293,441 | ||||||
Loss before other income | (293,441) | ||||||
Other income (expense) | |||||||
Decrease in equity of investment in partnership | |||||||
Net loss and comprehensive loss | $ (293,441) | ||||||
Net loss per share, basic | $ (0.002) | ||||||
Net loss per share, diluted | $ (0.002) | ||||||
Weighted average number of shares outstanding, basic | 131,903,029 | ||||||
Weighted average number of shares outstanding, diluted | 131,903,029 |
Schedule of Restatement of Co_4
Schedule of Restatement of Consolidated Statements of Cash Flows (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2024 | Mar. 31, 2024 | Jun. 30, 2023 | Mar. 31, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Operating Activities: | ||||||
Net loss for the period | $ (140,415) | $ (332,310) | $ (151,030) | $ (142,411) | $ (472,725) | $ (293,441) |
Depreciation | 250 | 250 | ||||
Changes in operating assets and liabilities: | ||||||
Prepaids | (3,293) | (3,553) | ||||
Accounts payable and accrued liabilities | 5,569 | 10,690 | ||||
Due to related company | (7,538) | |||||
Net cash provided by (used in) operating activities | (282,844) | (293,592) | ||||
Cash flows from investing activities: | ||||||
Equipment purchase | ||||||
Net cash used in investing activities | ||||||
Cash flows from financing activities: | ||||||
Advances from related parties | 282,841 | 293,592 | ||||
Net cash provided by financing activities | 282,841 | 293,592 | ||||
Change in cash | (3) | |||||
Cash, beginning of period | $ 3 | 3 | ||||
Cash, end of period | ||||||
Supplemental disclosures: | ||||||
Interest paid | ||||||
Income tax paid | ||||||
Previously Reported [Member] | ||||||
Operating Activities: | ||||||
Net loss for the period | (302,193) | |||||
Decrease in equity of partnership investment | 8,752 | |||||
Depreciation | 250 | |||||
Changes in operating assets and liabilities: | ||||||
Prepaids | (3,553) | |||||
Accounts payable and accrued liabilities | 10,690 | |||||
Due to related company | (21,359) | |||||
Due to related parties | 293,592 | |||||
Net cash provided by (used in) operating activities | ||||||
Cash flows from investing activities: | ||||||
Equipment purchase | ||||||
Net cash used in investing activities | ||||||
Cash flows from financing activities: | ||||||
Advances from related parties | ||||||
Net cash provided by financing activities | ||||||
Change in cash | ||||||
Cash, beginning of period | ||||||
Cash, end of period | ||||||
Supplemental disclosures: | ||||||
Interest paid | ||||||
Income tax paid | ||||||
Revision of Prior Period, Reclassification, Adjustment [Member] | ||||||
Operating Activities: | ||||||
Net loss for the period | 8,752 | |||||
Decrease in equity of partnership investment | (8,752) | |||||
Depreciation | ||||||
Changes in operating assets and liabilities: | ||||||
Prepaids | ||||||
Accounts payable and accrued liabilities | ||||||
Due to related company | ||||||
Due to related parties | (293,592) | |||||
Net cash provided by (used in) operating activities | (293,592) | |||||
Cash flows from investing activities: | ||||||
Equipment purchase | ||||||
Net cash used in investing activities | ||||||
Cash flows from financing activities: | ||||||
Advances from related parties | 293,592 | |||||
Net cash provided by financing activities | 293,592 | |||||
Change in cash | ||||||
Cash, beginning of period | ||||||
Cash, end of period | ||||||
Supplemental disclosures: | ||||||
Interest paid | ||||||
Income tax paid | ||||||
Restated [Member] | ||||||
Operating Activities: | ||||||
Net loss for the period | (293,441) | |||||
Decrease in equity of partnership investment | ||||||
Depreciation | 250 | |||||
Changes in operating assets and liabilities: | ||||||
Prepaids | (3,553) | |||||
Accounts payable and accrued liabilities | 10,690 | |||||
Due to related company | (21,359) | |||||
Due to related parties | ||||||
Net cash provided by (used in) operating activities | (293,592) | |||||
Cash flows from investing activities: | ||||||
Equipment purchase | ||||||
Net cash used in investing activities | ||||||
Cash flows from financing activities: | ||||||
Advances from related parties | 293,592 | |||||
Net cash provided by financing activities | 293,592 | |||||
Change in cash | (4,227) | |||||
Cash, beginning of period | $ 4,227 | 4,227 | ||||
Cash, end of period | ||||||
Supplemental disclosures: | ||||||
Interest paid | ||||||
Income tax paid |
Investment in and Due to Rela_3
Investment in and Due to Related Company (Details Narrative) - USD ($) | 6 Months Ended | |||
Jun. 30, 2023 | Jun. 30, 2024 | Dec. 31, 2023 | Dec. 31, 2019 | |
Related Company [Member] | ||||
Balance owing amount | $ 41,273 | $ 41,273 | ||
Previously Reported [Member] | ||||
Adjusted loss | $ 42,732 | |||
Previously Reported [Member] | Related Company [Member] | ||||
Balance owing amount | $ 42,303 | |||
AQUAtap [Member] | ||||
Investments | $ 7,600 | |||
Equity method investment, ownership percentage | 38% |
Schedule of Equipment (Details)
Schedule of Equipment (Details) - USD ($) | Jun. 30, 2024 | Dec. 31, 2023 |
Property, Plant and Equipment [Abstract] | ||
Computer, cost | $ 1,500 | $ 1,500 |
Computer, depreciation | 1,083 | 833 |
Computer, net | $ 417 | $ 667 |
Equipment (Details Narrative)
Equipment (Details Narrative) | Jun. 30, 2024 |
Property, Plant and Equipment [Abstract] | |
Estimated useful life | 3 years |
Related Party Transactions (Det
Related Party Transactions (Details Narrative) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Related Party Transaction [Line Items] | ||||
Management fee | $ 123,750 | $ 123,750 | $ 247,500 | $ 247,500 |
President [Member] | ||||
Related Party Transaction [Line Items] | ||||
Due to related parties | 948,030 | 643,910 | 948,030 | 643,910 |
Vice President [Member] | ||||
Related Party Transaction [Line Items] | ||||
Due to related parties | $ 1,068,254 | $ 803,295 | 1,068,254 | 803,295 |
Payment of rent | 10,500 | |||
President and Vice President [Member] | ||||
Related Party Transaction [Line Items] | ||||
Management fee | $ 247,500 | $ 247,500 |
Common Stock (Details Narrative
Common Stock (Details Narrative) - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | Dec. 31, 2023 | Dec. 31, 2022 | |
Equity [Abstract] | ||||||
Common stock, shares outstanding | 131,903,029 | 131,903,029 | 131,903,029 | 131,903,029 | 131,903,029 | 131,903,029 |
Loss attributable to common shareholders | $ 472,725 | $ 596,013 | ||||
Weighted average number of shares outstanding | 131,903,029 | 131,903,029 | 131,903,029 | 131,903,029 | 131,903,029 | |
Antidilutive securities, shares | 10,050,000 | 6,300,000 |
Schedule of Stock Option Transa
Schedule of Stock Option Transactions (Details) - $ / shares | 6 Months Ended | |
Jun. 30, 2024 | Dec. 31, 2022 | |
Share-Based Payment Arrangement [Abstract] | ||
Number of Options, Beginning balance | 10,050,000 | 6,300,000 |
Weighted Average Exercise Price, Beginning | $ 0.10 | $ 0.10 |
Number of Options, Beginning balance | 6,300,000 | |
Weighted Average Exercise Price, Beginning | $ 0.10 | |
Number of Options, Granted | 3,750,000 | |
Weighted Average Exercise Price, Granted | $ 0.10 | |
Number of Options, Ending balance | 10,050,000 | |
Weighted Average Exercise Price, Exercisable | $ 0.10 | |
Number of Options, Exercisable | 10,050,000 | |
Weighted Average Exercise Price, Granted | $ 0.10 |
Schedule of Weighted Average As
Schedule of Weighted Average Assumption of Stock Option Granted (Details) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2024 | Dec. 31, 2023 | |
Share-Based Payment Arrangement [Abstract] | ||
Risk-free interest rate | 4.02% | 3.17% |
Expected life of options | 5 years | 5 years |
Annualized volatility | 294.32% | 306.66% |
Dividend rate |
Share Based Payments (Details N
Share Based Payments (Details Narrative) - $ / shares | 1 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jan. 04, 2024 | Jul. 20, 2022 | May 31, 2012 | Jun. 30, 2024 | Dec. 31, 2023 | |
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | |||||
Remaining life | 5 years | 5 years | 4 years 6 months | 3 years 14 days | |
Share price | $ 0.05 | $ 0.10 | |||
Exercise price | $ 0.10 | $ 0.10 | |||
Maximum [Member] | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | |||||
Issued and outstanding common stock percentage | 10% | ||||
Option granted maximum term years | 10 years |
Operating Segment (Details Narr
Operating Segment (Details Narrative) | 6 Months Ended |
Jun. 30, 2024 Segment | |
Segment Reporting [Abstract] | |
Number of operating segments | 1 |
South African Partnership (Deta
South African Partnership (Details Narrative) | Oct. 12, 2023 |
AQUAtap Oasis South Africa (PTY) Ltd [Member] | |
Equity method investment, ownership percentage | 49% |