Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2020 | Mar. 26, 2021 | Jun. 30, 2020 | |
Document And Entity Information | |||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Annual Report | true | ||
Document Period End Date | Dec. 31, 2020 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity File Number | 333-167667 | ||
Entity Registrant Name | TWO HANDS Corp | ||
Entity Central Index Key | 0001494413 | ||
Entity Tax Identification Number | 42-1770123 | ||
Entity Incorporation, State or Country Code | DE | ||
Entity Address, Address Line One | 1035 Queensway East | ||
Entity Address, City or Town | Mississauga | ||
Entity Address, State or Province | ON | ||
Entity Address, Country | CA | ||
Entity Address, Postal Zip Code | L4Y 4C1 | ||
City Area Code | 416 | ||
Local Phone Number | 357-0399 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Interactive Data Current | Yes | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Small Business | true | ||
Entity Emerging Growth Company | true | ||
Elected Not To Use the Extended Transition Period | false | ||
Entity Shell Company | false | ||
Entity Public Float | $ 849,267 | ||
Entity Common Stock, Shares Outstanding | 1,244,071,258 | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2020 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Dec. 31, 2020 | Dec. 31, 2019 |
Current assets | ||
Cash | $ 21,843 | $ 293 |
Accounts receivable | 41,097 | |
Taxes receivable | 8,824 | 9,250 |
Prepaid expense | 891,889 | 1,759,481 |
Total current assets | 963,653 | 1,769,024 |
Property and equipment, net | 3,444 | 2,697 |
Total assets | 967,097 | 1,771,721 |
Current liabilities | ||
Accounts payable and accrued liabilities | 162,536 | 65,888 |
Non-redeemable convertible notes, net | 75,040 | 66,078 |
Due to related party | 106,928 | 17,840 |
Notes payable | 83,332 | 48,461 |
Convertible note, net | 7,833 | 19,752 |
Derivative liabilities | 172,261 | 452,549 |
Total current liabilities | 607,930 | 670,568 |
Long-term liabilities | ||
Promissory note | 85,796 | 78,170 |
Promissory notes - related party | 194,485 | 177,197 |
Non-redeemable convertible notes, net | 766,949 | 661,885 |
Total long-term liabilities | 1,047,230 | 917,252 |
Total liabilities | 1,655,160 | 1,587,820 |
Commitments and Contingencies | ||
Temporary equity | ||
Series A convertible preferred stock; $0.01 par value; 200,000 shares authorized, 30,000 shares issued and outstanding, respectively, Series B convertible preferred stock; $0.01 par value; 100,000 shares authorized, 4,000 shares issued and outstanding, respectively | 2,095,857 | 1,553,000 |
Total temporary equity | 2,095,857 | 1,553,000 |
Stockholder's deficit | ||
Preferred stock; $0.001 par value; 1,000,000 shares authorized, 0 issued and outstanding | ||
Common stock; $0.0001par value; 3,000,000,000 shares authorized,695,575,506 and 6,267,340 shares issued and outstanding, respectively | 69,560 | 627 |
Additional paid-in capital | 42,703,888 | 36,857,580 |
Common stock to be issued | 336,000 | |
Accumulated deficit | (45,893,368) | (38,227,306) |
Total stockholders' deficit | (2,783,920) | (1,369,099) |
Total liabilities and stockholders' deficit | 967,097 | 1,771,721 |
Series A Convertible Preferred Stock [Member] | ||
Temporary equity | ||
Series A convertible preferred stock; $0.01 par value; 200,000 shares authorized, 30,000 shares issued and outstanding, respectively, Series B convertible preferred stock; $0.01 par value; 100,000 shares authorized, 4,000 shares issued and outstanding, respectively | 33,000 | 33,000 |
Total temporary equity | 33,000 | 33,000 |
Stockholder's deficit | ||
Total liabilities and stockholders' deficit | 33,000 | 33,000 |
Series B Convertible Preferred Stock [Member] | ||
Temporary equity | ||
Series A convertible preferred stock; $0.01 par value; 200,000 shares authorized, 30,000 shares issued and outstanding, respectively, Series B convertible preferred stock; $0.01 par value; 100,000 shares authorized, 4,000 shares issued and outstanding, respectively | 1,520,000 | 1,520,000 |
Total temporary equity | 1,520,000 | 1,520,000 |
Stockholder's deficit | ||
Total liabilities and stockholders' deficit | 1,520,000 | 1,520,000 |
Series C Convertible Preferred Stock [Member] | ||
Temporary equity | ||
Series A convertible preferred stock; $0.01 par value; 200,000 shares authorized, 30,000 shares issued and outstanding, respectively, Series B convertible preferred stock; $0.01 par value; 100,000 shares authorized, 4,000 shares issued and outstanding, respectively | 542,857 | |
Total temporary equity | 542,857 | |
Stockholder's deficit | ||
Total stockholders' deficit | ||
Total liabilities and stockholders' deficit | $ 542,857 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - $ / shares | Dec. 31, 2020 | Dec. 31, 2019 |
Temporary equity, par value per share | $ 0.01 | $ 0.01 |
Temporary equity, shares authorized | 300,000 | 300,000 |
Temporary equity, shares issued | 34,000 | 34,000 |
Temporary equity, shares outstanding | 34,000 | 34,000 |
Preferred stock, par value per share | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized | 1,000,000 | 1,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value per share | $ 0.0001 | $ 0.0001 |
Common stock, shares authorized | 3,000,000,000 | 3,000,000,000 |
Common stock, shares issued | 695,575,506 | 6,267,340 |
Common stock, shares outstanding | 695,575,506 | 6,267,340 |
Series A Convertible Preferred Stock [Member] | ||
Temporary equity, par value per share | $ 0.01 | $ 0.01 |
Temporary equity, shares authorized | 200,000 | 200,000 |
Temporary equity, shares issued | 30,000 | 30,000 |
Temporary equity, shares outstanding | 30,000 | 30,000 |
Series B Convertible Preferred Stock [Member] | ||
Temporary equity, par value per share | $ 0.01 | $ 0.01 |
Temporary equity, shares authorized | 100,000 | 100,000 |
Temporary equity, shares issued | 4,000 | 4,000 |
Temporary equity, shares outstanding | 4,000 | 4,000 |
Series C Convertible Preferred Stock [Member] | ||
Temporary equity, par value per share | $ 0.001 | $ 0.001 |
Temporary equity, shares authorized | 5,000 | 5,000 |
Temporary equity, shares issued | 5,000 | 5,000 |
Temporary equity, shares outstanding | 5,000 | 5,000 |
Consolidated Statements Of Oper
Consolidated Statements Of Operations - USD ($) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Income Statement [Abstract] | ||
Sales | $ 159,025 | |
Cost of goods | 138,405 | |
Gross profit | 20,620 | |
Operating expenses | ||
General and administrative | 5,525,609 | 3,702,156 |
Total operating expenses | 5,525,609 | 3,702,156 |
Loss from operations | (5,504,989) | (3,702,156) |
Other income (expense) | ||
Amortization of debt discount and interest expense | 239,312 | 158,202 |
Loss on settlement of debt | (2,053,055) | (1,398,085) |
Initial derivative expense | 258,863 | 274,717 |
Change in fair value of derivative liabilities | 390,157 | (143,276) |
Total other income (expense) | (2,161,073) | (1,974,280) |
Net loss | $ (7,666,062) | $ (5,676,436) |
Net loss per common share - basic and diluted | $ (0.04) | $ (15.50) |
Weighted average number of common shares outstanding - basic and diluted | 206,466,594 | 366,157 |
Consolidated Statement Of Stock
Consolidated Statement Of Stockholders' Deficit - USD ($) | Common Stock [Member] | Common Stock to be Issued [Member] | Additional Paid-in Capital [Member] | Accumulated Deficit [Member] | Total |
Balance, shares at Dec. 31, 2018 | 152,199 | ||||
Balance, value at Dec. 31, 2018 | $ 16 | $ 345,174 | $ 31,895,258 | $ (32,550,870) | $ (310,422) |
Rounding at reverse split | 3,553 | ||||
Stock issued for conversion of non-redeemable convertible notes, shares | 354,700 | ||||
Stock issued for conversion of non-redeemable convertible notes, value | $ 35 | 1,351,665 | 1,351,700 | ||
Stock issued for conversion of convertible notes, shares | 337,600 | ||||
Stock issued for conversion of convertible notes, value | $ 34 | 208,517 | 208,551 | ||
Stock issued for prepaid, shares | 1,471,369 | ||||
Stock issued for prepaid, value | $ 147 | 294,127 | 294,274 | ||
Stock issued for consulting, shares | 200 | ||||
Stock issued for consulting, value | (8,000) | 15,000 | 7,000 | ||
Stock issued for officer and director compensation, shares | 3,938,055 | ||||
Stock issued for officer and director compensation, value | $ 394 | (337,174) | 2,940,154 | 2,603,374 | |
Stock issued for debt settlement, shares | 5,910 | ||||
Stock issued for debt settlement, value | $ 1 | 31,911 | 31,912 | ||
Stock issued for debt settlement - officer, shares | 1,524 | ||||
Stock issued for debt settlement - officer, value | 9,448 | 9,448 | |||
Stock issued for cash, shares | 2,230 | ||||
Stock issued for cash, value | 111,500 | 111,500 | |||
Net loss | (5,676,436) | $ (5,676,436) | |||
Balance, shares at Dec. 31, 2019 | 6,267,340 | 6,267,340 | |||
Balance, value at Dec. 31, 2019 | $ 627 | 36,857,580 | (38,227,306) | $ (1,369,099) | |
Stock issued for conversion of non-redeemable convertible notes, shares | 315,665,264 | ||||
Stock issued for conversion of non-redeemable convertible notes, value | $ 31,569 | 1,907,875 | 1,939,444 | ||
Stock issued for conversion of convertible notes, shares | 91,031,792 | ||||
Stock issued for conversion of convertible notes, value | $ 9,103 | 543,994 | 553,097 | ||
Stock issued for warrant liability settlement, shares | 2,000,000 | ||||
Stock issued for warrant liability settlement, value | $ 200 | 111,600 | 111,800 | ||
Stock issued for prepaid, shares | 29,111,110 | ||||
Stock issued for prepaid, value | $ 2,911 | 336,000 | 386,089 | 725,000 | |
Stock issued for consulting, shares | 97,500,000 | ||||
Stock issued for consulting, value | $ 9,750 | 1,015,350 | 1,025,100 | ||
Stock issued for officer and director compensation, shares | 154,000,000 | ||||
Stock issued for officer and director compensation, value | $ 15,400 | 1,881,400 | 1,896,800 | ||
Net loss | (7,666,062) | $ (7,666,062) | |||
Balance, shares at Dec. 31, 2020 | 695,575,506 | 695,575,506 | |||
Balance, value at Dec. 31, 2020 | $ 69,560 | $ 336,000 | $ 42,703,888 | $ (45,893,368) | $ (2,783,920) |
Consolidated Statements Of Cash
Consolidated Statements Of Cash Flows - USD ($) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Cash flows from operating activities | ||
Net loss | $ (7,666,062) | $ (5,676,436) |
Adjustments to reconcile net loss to cash used in operating activities | ||
Depreciation and amortization | 1,482 | 1,218 |
Amortization of prepaid expense | 2,135,449 | 480,037 |
Stock-based compensation | 2,921,900 | 2,643,374 |
Amortization of debt discount | 239,312 | 158,202 |
Loss on settlement of debt | (2,053,055) | (1,398,085) |
Initial derivative expense | (258,863) | (274,717) |
Change in fair value of derivative liabilities | 390,157 | (143,276) |
Change in operating assets and liabilities | ||
Accounts and taxes receivable | 38,695 | 9,250 |
Prepaid expense | 500 | |
Accounts payable and accrued liabilities | 170,424 | 115,156 |
Net cash used in operating activities | (314,429) | (472,121) |
Cash flows from investing activities | ||
Purchase of property and equipment | 2,229 | 1,616 |
Net cash used in investing activities | (2,229) | (1,616) |
Cash flow from financing activities | ||
Advance by related party | 100,159 | 112,617 |
Repayment of advances to related party | 86,649 | 52,542 |
Proceeds from notes payable | 152,040 | 232,106 |
Repayments of notes payable | 117,170 | 107,380 |
Proceeds from convertible notes | 290,000 | 175,000 |
Proceeds from issuance of common stock | 111,500 | |
Net cash provided by financing activities | 338,380 | 471,301 |
Change in foreign exchange | (172) | |
Net change in cash, cash equivalents, and restricted | 21,550 | (2,436) |
Cash, cash equivalents, and restricted cash beginning of the period | 293 | 2,729 |
Cash, cash equivalents, and restricted cash end of the period | 21,843 | 293 |
Cash paid during the year: Interest paid | ||
Cash paid during the year: Income taxes paid | ||
Supplemental disclosure of non-cash investing and financing activities | ||
Stock issued to settle accounts payable and accrued liabilities | 41,360 | |
Issue of non-redeemable convertible notes to settle notes payable | 127,853 | |
Stock issued to settle non-redeemable convertible notes | 1,939,444 | 1,351,699 |
Stock issued to settle common stock to be issued | 911,000 | |
Stock issued to settle convertible notes | 553,097 | 208,551 |
Stock issued and to be issued for prepaid expense | 1,267,857 | 1,814,274 |
Initial debt discount from derivative | 290,000 | 175,000 |
Stock issued for warrant liability | 111,800 | |
Transfer of trade accounts payable to due to related party | 11,817 | |
Transfer of accrued compensation to promissory note | 103,952 | |
Transfer of advances to promissory note | 68,924 | |
Transfer of notes payable to promissory note | $ 76,263 |
Nature Of Operations And Basis
Nature Of Operations And Basis Of Presentation | 12 Months Ended |
Dec. 31, 2020 | |
Nature Of Operations And Basis Of Presentation | |
Nature of Operations | NOTE 1 - NATURE OF OPERATIONS Two Hands Corporation (the "Company") was incorporated on April 3, 2009 in the State of Delaware and established a fiscal year end of December 31. The Company is in the business of developing brand strategies. The Company executes and/or oversees the research, planning, pricing, creative development, tracking and deployment of all digital advertising projects needed to promote both ours and client products and services. The gocart.city online consumer grocery delivery application was released in early June 2020 and gocart.city wholesale commenced sale of dry goods and produce to other businesses in July 2020. The Two Hands application launched on July 2018 and the Two Hands Gone application launched In February 2019. The operations of the business are carried on by a 100% owned subsidiary, I8 Interactive Corporation, a company incorporated under the laws of Canada. |
Summary Of Significant Accounti
Summary Of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2020 | |
Summary Of Significant Accounting Policies | |
Summary of Significant Accounting Policies | NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES BASIS OF PRESENTATION The financial statements present the balance sheets and statements of operations, stockholders' equity and cash flows of the Company. These financial statements are presented in United States dollars and have been prepared in accordance with accounting principles generally accepted in the United States. COVID-19 The recent outbreak of the coronavirus COVID-19 has spread across the globe and is impacting worldwide economic activity. Conditions surrounding the coronavirus continue to rapidly evolve and government authorities have implemented emergency measures to mitigate the spread of the virus. The outbreak and the related mitigation measures have had and will continue to have a material adverse impact on global economic conditions as well as on the Company's business activities. The extent to which COVID-19 may impact the Company's business activities will depend on future developments, such as the ultimate geographic spread of the disease, the duration of the outbreak, travel restrictions, business disruptions, and the effectiveness of actions taken in the Canada, United States and other countries to contain and treat the disease. These events are highly uncertain and, as such, the Company cannot determine their financial impact at this time. No adjustments have been made to the amounts reported in these consolidated financial statements as a result of this matter. GOING CONCERN The Company's financial statements are prepared in accordance with generally accepted accounting principles applicable to a going concern. This contemplates the realization of assets and the liquidation of liabilities in the normal course of business. During the year ended December 31, 2020, the Company incurred a net loss of $7,666,062 and used cash in operating activities of $314,429, and on December 31, 2020, had stockholders’ deficit of $2,783,920. These factors, among others, raise substantial doubt about the Company’s ability to continue as a going concern for a period one year from the date that the financial statements are issued. The Company will be dependent upon the raising of additional capital through placement of its common stock in order to implement its business plan. There can be no assurance that the Company will be successful in this situation. The Company is unable to predict the effect, if any, that the coronavirus COVID-19 global pandemic may have on its access to the financing markets. These financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or amounts and classifications of liabilities that might result from this uncertainty. We are currently funding our operations by way of cash advances from our Chief Executive Officer, note holders, shareholders and others; however, we do not have any oral or written agreements with them or others to loan or advance funds to us. There can be no assurances that we will be able to receive loans or advances from them or other persons in the future. PRINCIPLES OF CONSOLIDATION The consolidated financial statements include the accounts of the Company and its wholly owned subsidiary, I8 Interactive Corporation. All intercompany transactions and balances have been eliminated in consolidation. USE OF ESTIMATES AND ASSUMPTIONS Preparation of the financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates. CASH AND CASH EQUIVALENTS For purposes of the statement of cash flows, the Company considers highly liquid financial instruments purchased with a maturity of three months or less to be cash equivalents. ACCOUNTS RECEIVABLE Trade accounts receivable are recorded at the invoiced amount and do not bear interest. Accounts receivable are reduced by an allowance for doubtful accounts, which is the Company’s best estimate of the amount of credit losses inherent in its existing accounts receivable. In establishing the required allowance, management considers historical losses adjusted to take into account current market conditions and customers’ financial condition, the amount of receivables in dispute, and the current receivables aging and current payment patterns. The Company writes off accounts receivable against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote. The allowance for doubtful accounts at December 31, 2020 and 2019 is $0 and $0, respectively. PROPERTY AND EQUIPMENT Property and equipment is stated at cost, less accumulated depreciation and amortization. Expenditures for maintenance and repairs are charged to expense when incurred, while renewals and betterments that materially extend the life of an asset are capitalized. The costs of assets sold, retired, or otherwise disposed of, and the related allowance for depreciation, are eliminated from the accounts, and any resulting gain or loss is recognized in the results from operations. Depreciation is provided over the estimated useful lives of the assets, which are as follows: Computer equipment 50% declining balance over a three year useful life In the year of acquisition, one half the normal rate of depreciation is provided. REVENUE RECOGNITION In accordance with ASC 606, revenue is recognized when a customer obtains control of promised goods or services. The amount of revenue recognized reflects the consideration to which we expect to be entitled to receive in exchange for these goods or services. The provisions of ASC 606 include a five-step process by which we determine revenue recognition, depicting the transfer of goods or services to customers in amounts reflecting the payment to which we expect to be entitled in exchange for those goods or services. ASC 606 requires us to apply the following steps: (1) identify the contract with the customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations in the contract; and (5) recognize revenue when, or as, we satisfy the performance obligation. We recognize revenue for the sale of our products upon delivery to a customer. During the year ended December 31, 2020 and 2019, the Company had revenue of $159,025 and $0, respectively. The Company recognized revenue of $42,593 from the sale of groceries to consumers via the gocart.city online grocery delivery application, $112,751 from the sale of dry goods and produce to other businesses and $3,681 from the sale of computer equipment. RESEARCH AND DEVELOPMENT COSTS We incurred research and development costs primarily to the development of Two Hands gone application. Research and development costs are comprised primarily of contract labor and services. As of December 31, 2020 and 2019, the Company incurred $0 and $0 in research and development costs. Software development costs are included in research and development and are expensed as incurred. FASB ASC Topic 350 Intangibles—Goodwill and Other DEBT DISCOUNT AND DEBT ISSUANCE COSTS Debt discounts and debt issuance costs incurred in connection with the issuance of convertible notes are capitalized and amortized to interest expense based on the related debt agreements using the effective interest rate method. Unamortized discounts are netted against convertible notes. DERIVATIVE LIABILITY In accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Paragraph 815-15-25-1 the conversion feature and certain other features are considered embedded derivative instruments, such as a conversion reset provision, a penalty provision and redemption option, which are to be recorded at their fair value as its fair value can be separated from the convertible note and its conversion is independent of the underlying note value. The Company records the resulting discount on debt related to the conversion features at initial transaction and amortizes the discount using the effective interest rate method over the life of the debt instruments. The conversion liability is then marked to market each reporting period with the resulting gains or losses shown in the statements of operations. In circumstances where the embedded conversion option in a convertible instrument is required to be bifurcated and there are also other embedded derivative instruments in the convertible instrument that are required to be bifurcated, the bifurcated derivative instruments are accounted for as a single, compound derivative instrument. The Company follows ASC Section 815-40-15 (“Section 815-40-15”) to determine whether an instrument (or an embedded feature) is indexed to the Company’s own stock. Section 815-40-15 provides that an entity should use a two-step approach to evaluate whether an equity-linked financial instrument (or embedded feature) is indexed to its own stock, including evaluating the instrument’s contingent exercise and settlement provisions. The Company evaluates its convertible debt, options, warrants or other contracts, if any, to determine if those contracts or embedded components of those contracts qualify as derivatives to be separately accounted for in accordance with paragraph 810-10-05-4 and Section 815-40-25 of the FASB Accounting Standards Codification. The result of this accounting treatment is that the fair value of the embedded derivative is marked-to-market each balance sheet date and recorded as either an asset or a liability. In the event that the fair value is recorded as a liability, the change in fair value is recorded in the consolidated statement of operations as other income or expense. Upon conversion, exercise or cancellation of a derivative instrument, the instrument is marked to fair value at the date of conversion, exercise or cancellation and then that the related fair value is reclassified to equity. The Company utilizes the binomial option pricing model to compute the fair value of the derivative and to mark to market the fair value of the derivative at each balance sheet date. The binomial option pricing model includes subjective input assumptions that can materially affect the fair value estimates. The expected volatility is estimated based on the most recent historical period of time equal to the remaining contractual term of the instrument granted. INCOME TAXES The Company accounts for income taxes in accordance with Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("FASB ASC") 740, Income Taxes. Under the assets and liability method of FASB ASC 740, deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. The Company provides a valuation allowance, if necessary, to reduce deferred tax assets to their estimated realizable value. NET LOSS PER SHARE Basic net income (loss) per share includes no dilution and is computed by dividing net income (loss) available to common stockholders by the weighted average number of common shares outstanding for the period. Diluted earnings per share is computed by dividing earnings available to common shareholders by the weighted average number of common shares outstanding for the period increased to include the number of additional common shares that would have been outstanding if potentially dilutive securities had been issued. On December 31, 2020 and 2019, we excluded the common stock issuable upon conversion of non-redeemable convertible notes, convertible notes, Series A Stock, Series B Stock, Series C Stock, common stock to be issued and warrants of 8,379,046,549 shares and 7,016,249,249 shares, respectively, as their effect would have been anti-dilutive. On December 31, 2020, common stock equivalents exceed authorized shares of common stock of the Company. FOREIGN CURRENCY TRANSLATION The financial statements are presented in the Company’s functional currency which is the United States dollars. The functional currency of the Company’s Canadian subsidiary, I8 Interactive Corporation, is the United States dollar. In accordance with FASB ASC 830, Foreign Currency Matters, foreign denominated monetary assets and liabilities are translated to their United States dollar equivalents using foreign exchange rates which prevailed at the balance sheet date. Non-monetary assets and liabilities are translated at exchange rates prevailing at the transaction date. Revenue and expenses are translated at average rates of exchange during the periods presented. Related translation adjustments are reported as gains or losses resulting from foreign currency transactions and are included in results of operations. STOCK-BASED COMPENSATION The Company accounts for stock incentive awards issued to employees and non-employees in accordance with FASB ASC 718, Stock Compensation. Accordingly, stock-based compensation is measured at the grant date, based on the fair value of the award. Stock-based awards to employees are recognized as an expense over the requisite service period, or upon the occurrence of certain vesting events. Additionally, stock-based awards to non-employees are expensed over the period in which the related services are rendered. FAIR VALUE OF FINANCIAL INSTRUMENTS ASC Topic 820 defines fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements. Included in the ASC Topic 820 framework is a three level valuation inputs hierarchy with Level 1 being inputs and transactions that can be effectively fully observed by market participants spanning to Level 3 where estimates are unobservable by market participants outside of the Company and must be estimated using assumptions developed by the Company. The Company discloses the lowest level input significant to each category of asset or liability valued within the scope of ASC Topic 820 and the valuation method as exchange, income or use. The Company uses inputs which are as observable as possible and the methods most applicable to the specific situation of each company or valued item. The Company’s financial instruments such as cash, accounts payable and accrued liabilities, non-redeemable convertible notes, notes payable and due to related parties are reported at cost, which approximates fair value due to the short-term nature of these financial instruments. Derivative liabilities are measured at fair value on a recurring basis using Level 3 inputs. The following table presents assets and liabilities that are measured and recognized at fair value as of December 31, 2020 on a recurring basis: 2020 Level 1 Level 2 Level 3 Description $ $ $ Derivative liabilities — — 172,261 2019 Level 1 Level 2 Level 3 Description $ $ $ Derivative liabilities — — 452,549 RECENT ACCOUNTING PRONOUNCEMENTS In August 2020, the FASB issued ASU 2020-06, Debt— Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40). Other recent accounting pronouncements issued by the FASB, including its Emerging Issues Task Force, the American Institute of Certified Public Accountants, and the Securities and Exchange Commission did not or are not believed by management to have a material impact on the Company's present or future consolidated financial statements. |
Non-redeemable Convertible Note
Non-redeemable Convertible Notes | 12 Months Ended |
Dec. 31, 2020 | |
Non-redeemable Convertible Notes | |
Non-redeemable Convertible Notes | NOTE 3 – NON-REDEEMABLE CONVERTIBLE NOTES On June 10, 2014, the Company agreed to amend and add certain terms to unsecured, non-interest bearing, due on demand notes payable issued to The Cellular Connection Ltd. during the period from February 22, 2013 to June 10, 2014 with a total carrying value $42,189. The issue price of the Note is $42,189 with a face value of $54,193 and the Note has an original maturity date of December 31, 2014 which is subject to automatic renewal. At the option of the Company, the Company may convert principal and interest at a fixed conversion price of $0.0001 per share of the Company’s common stock. The Note allows for the lender to secure a portion of the Company assets up to 200% of the face value of the Note. If the Note is not paid on the maturity date, the outstanding face amount of the Note shall increase by 20% on January 1, 2015. The outstanding face value of the Note shall increase by another 20% on January 1, 2016 and again on each one-year anniversary of the Note until the Note has been paid in full. During the year ended December 31, 2020, the Company elected to convert $2,252 of principal and interest into 22,524,864 shares of common stock of the Company at a fixed conversion price of $0.0001 per share. These conversions resulted in a loss on debt settlement of $890,986 due to the requirement to record the share issuance at fair value on the date the shares were issued. The consolidated statement of operations includes interest expense of $376 and $2,378 for the year ended December 31, 2020 and 2019, respectively. On December 31, 2020 and 2019, the carrying amount of the Note is $0 and $1,878 (face value of $1,878 less $0 unamortized discount), respectively. On September 1, 2016, Doug Clark, former Chief Executive Officer and related party, assigned the Side Letter Agreement (“Note”) dated June 10, 2014 with a total carrying value $382,016 to DC Design Inc. (“DC Design”). On September 1, 2016, the Company entered into an amended Side Letter Agreement with DC Design to amend and add certain terms to the Side Letter Agreement and advances from the period from June 25, 2014 to December 24, 2014. Under the terms of the amended Side Letter Agreement, the issue price of the Note is $174,252 with an interest rate 20% per annum and an original maturity date of December 31, 2017 which is subject to automatic renewal. In addition, on September 30, 2019, the Company and DC Design entered into an Agreement to change the original maturity date of the Note to December 31, 2021. At the option of the Company, the Company may convert principal and interest at a fixed conversion price of $0.003 per share of the Company’s common stock. The Note allows for the lender to secure a portion of the Company assets up to 200% of the face value of the note. If the Note is not paid on the maturity date, the outstanding face amount of the Note shall increase by 20% on January 1, 2022. The outstanding face value of the Note shall increase by another 20% on January 1, 2023 and again on each one-year anniversary of the Note until the Note has been paid in full. The consolidated statement of operations includes interest expense of $5,502 and $4,585 for the year ended December 31, 2020 and 2019, respectively. On December 31, 2020 and 2019, the carrying amount of the Note is $33,010 (face value of $33,010 less $0 unamortized discount) and $27,508 (face value of $27,508 less $0 unamortized discount), respectively. On January 8, 2018, the Company entered into a Side Letter Agreement (“Note”) with The Cellular Connection Ltd., to amend and add certain terms to unsecured, non-interest bearing, due on demand notes payable totaling $14,930 issued by the Company during the period of June 2014 and December 2017. The issue price of the Note is $14,930 with a face value of $17,916 and the Note has an original maturity date of December 31, 2018 which is subject to automatic renewal. On September 30, 2019, the Company and The Cellular Connection Ltd. entered into an Agreement to change the original maturity date of the Note to December 31, 2021. At the option of the Company, the Company may convert principal and interest at a fixed conversion price of $0.0001 per share of the Company’s common stock. The Note allows for the lender to secure a portion of the Company assets up to 200% of the face value of the Note. If the Note is not paid on the maturity date, the outstanding face amount of the Note shall increase by 20% on January 1, 2022. The outstanding face value of the Note shall increase by another 20% on January 1, 2023 and again on each one-year anniversary of the Note until the Note has been paid in full. During the year ended December 31, 2020, the Company elected to convert $25,799 of principal and interest into 257,990,370 shares of common stock of the Company at a fixed conversion price of $0.0001 per share. These conversions resulted in a loss on debt settlement of $892,297 due to the requirement to record the share issuance at fair value on the date the shares were issued. The consolidated statement of operations includes interest expense of $4,300 and $3,583 for the year ended December 31, 2020 and 2019, respectively. On December 31, 2020 and 2019, the carrying amount of the Note is $0 and $21,499 (face value of $21,499 less $0 unamortized discount), respectively. On January 8, 2018, the Company entered into a Side Letter Agreement (“Note”) with Stuart Turk, to amend and add certain terms to unsecured, non-interest bearing, due on demand notes payable totaling $244,065 issued by the Company during the period of July 2014 and December 2017. The issue price of the Note is $244,065 with a face value of $292,878 and the Note has an original maturity date of December 31, 2018 which is subject to automatic renewal. On September 30, 2019, the Company and Stuart Turk entered into an Agreement to change the original maturity date of the Note to December 31, 2021. At the option of the Company, the Company may convert principal and interest at a fixed conversion price of $0.0001 per share of the Company’s common stock. The Note allows for the lender to secure a portion of the Company assets up to 200% of the face value of the Note. If the Note is not paid on the maturity date, the outstanding face amount of the Note shall increase by 20% on January 1, 2022. The outstanding face value of the Note shall increase by another 20% on January 1, 2023 and again on each one-year anniversary of the Note until the Note has been paid in full. During the year ended December 31, 2020, the Company elected to convert $1,400 of principal and interest into 14,000,000 shares of common stock of the Company at a fixed conversion price of $0.0001 per share. These conversions resulted in a loss on debt settlement of $58,800 due to the requirement to record the share issuance at fair value on the date the shares were issued. The consolidated statement of operations includes interest expense of $70,291 and $58,576 for the year ended December 31, 2020 and 2019, respectively. On December 31, 2020 and 2019, the carrying amount of the Note is $420,344 (face value of $420,344 less $0 unamortized discount) and $351,454 (face value of $351,454 less $0 unamortized discount), respectively . On April 12, 2018, the Company entered into a Side Letter Agreement (“Note”) with Jordan Turk to amend and add certain terms to unsecured, non-interest bearing, due on demand notes payable totaling $45,000 issued by the Company during the period of March 19, 2018 to April 12, 2018. The issue price of the Note is $45,000 with a face value of $54,000 and the Note has an original maturity date of December 31, 2018 which is subject to automatic renewal. At the option of the Company, the Company may convert principal and interest at a fixed conversion price of $0.0001 per share of the Company’s common stock. The Note allows for the lender to secure a portion of the Company assets up to 200% of the face value of the Note. If the Note is not paid on the maturity date, the outstanding face amount of the Note shall increase by 20% on January 1, 2019. The outstanding face value of the Note shall increase by another 20% on January 1, 2020 and again on each one-year anniversary of the Note until the Note has been paid in full. During the year ended December 31, 2020, the Company elected to convert $2,000 of principal and interest into 20,000,000 shares of common stock of the Company at a fixed conversion price of $0.0001 per share. These conversions resulted in a loss on debt settlement of $62,000 due to the requirement to record the share issuance at fair value on the date the shares were issued. The consolidated statement of operations includes interest expense of $12,840 and $10,800 for the year ended December 31, 2020 and 2019, respectively. On December 31, 2020 and 2019, the carrying amount of the Note is $75,040 (face value of $75,040 less $0 unamortized discount) and $64,200 (face value of $64,200 less $0 unamortized discount), respectively. On May 10, 2018, the Company entered into a Side Letter Agreement (“Note”) with Jordan Turk to amend and add certain terms to unsecured, non-interest bearing, due on demand notes payable totaling $35,000 issued by the Company on May 9, 2018. The issue price of the Note is $35,000 with a face value of $42,000 and the Note has an original maturity date of December 31, 2018 which is subject to automatic renewal. On September 30, 2019, the Company and Jordan Turk entered into an Agreement to change the original maturity date of the Note to December 31, 2021. At the option of the Company, the Company may convert principal and interest at a fixed conversion price of $0.0001 per share of the Company’s common stock. The Note allows for the lender to secure a portion of the Company assets up to 200% of the face value of the Note. If the Note is not paid on the maturity date, the outstanding face amount of the Note shall increase by 20% on January 1, 2022. The outstanding face value of the Note shall increase by another 20% on January 1, 2023 and again on each one-year anniversary of the Note until the Note has been paid in full. The consolidated statement of operations includes interest expense of $10,080 and $8,400 for the year ended December 31, 2020 and 2019, respectively. On December 31, 2020 and 2019, the carrying amount of the Note is $60,480 (face value of $60,480 less $0 unamortized discount) and $50,400 (face value of $50,400 less $0 unamortized discount), respectively. On September 13, 2018, the Company entered into a Side Letter Agreement (“Note”) with Jordan Turk to amend and add certain terms to unsecured, non-interest bearing, due on demand notes payable totaling $40,000 issued by the Company during the period of July 10 to September 13, 2018. The issue price of the Note is $40,000 with a face value of $48,000 and the Note has an original maturity date of December 31, 2018 which is subject to automatic renewal. On September 30, 2019, the Company and Jordan Turk entered into an Agreement to change the original maturity date of the Note to December 31, 2021. At the option of the Company, the Company may convert principal and interest at a fixed conversion price of $0.0001 per share of the Company’s common stock. The Note allows for the lender to secure a portion of the Company assets up to 200% of the face value of the Note. If the Note is not paid on the maturity date, the outstanding face amount of the Note shall increase by 20% on January 1, 2022. The outstanding face value of the Note shall increase by another 20% on January 1, 2023 and again on each one-year anniversary of the Note until the Note has been paid in full. The consolidated statement of operations includes interest expense of $11,520 and $9,600 for the year ended December 31, 2020 and 2019, respectively. On December 31, 2020 and 2019, the carrying amount of the Note is $69,120 (face value of $69,120 less $0 unamortized discount) and $57,600 (face value of $57,600 less $0 unamortized discount), respectively. On January 31, 2019, the Company entered into a Side Letter Agreement (“Note”) with Stuart Turk to amend and add certain terms to unsecured, non-interest bearing, due on demand notes payable totaling $106,968 issued by the Company during the period of January 3, 2018 to December 28, 2018. The issue price of the Note is $106,968 with a face value of $128,362 and the Note has an original maturity date of December 31, 2019 which is subject to automatic renewal. On September 30, 2019, the Company and Stuart Turk entered into an Agreement to change the original maturity date of the Note to December 31, 2021. At the option of the Company, the Company may convert principal and interest at a fixed conversion price of $0.0001 per share of the Company’s common stock. The Note allows for the lender to secure a portion of the Company assets up to 200% of the face value of the Note. If the Note is not paid on the maturity date, the outstanding face amount of the Note shall increase by 20% on January 1, 2022. The outstanding face value of the Note shall increase by another 20% on January 1, 2023 and again on each one-year anniversary of the Note until the Note has been paid in full. The consolidated statement of operations includes interest expense of $25,672 and $21,394 for the year ended December 31, 2020 and 2019, respectively. On December 31, 2020 and 2019, the carrying amount of the Note is $154,034 (face value of $154,034 less $0 unamortized discount) and $128,362 (face value of $128,362 less $0 unamortized discount), respectively . On January 31, 2019, the Company entered into a Side Letter Agreement (“Note”) with The Cellular Connection Ltd. to amend and add certain terms to unsecured, non-interest bearing, due on demand notes payable totaling $20,885 issued by the Company during the period of January 23, 2018 to October 16, 2018. The issue price of the Note is $20,885 with a face value of $25,062 and the Note has an original maturity date of December 31, 2019 which is subject to automatic renewal. On September 30, 2019, the Company and The Cellular Connection Ltd. entered into an Agreement to change the original maturity date of the Note to December 31, 2021. At the option of the Company, the Company may convert principal and interest at a fixed conversion price of $0.0001 per share of the Company’s common stock. The Note allows for the lender to secure a portion of the Company assets up to 200% of the face value of the Note. If the Note is not paid on the maturity date, the outstanding face amount of the Note shall increase by 20% on January 1, 2022. The outstanding face value of the Note shall increase by another 20% on January 1, 2023 and again on each one-year anniversary of the Note until the Note has been paid in full. During the year ended December 31, 2020, the Company elected to convert $115 of principal and interest into 1,150,030 shares of common stock of the Company at a fixed conversion price of $0.0001 per share. These conversions resulted in a loss on debt settlement of $3,795 due to the requirement to record the share issuance at fair value on the date the shares were issued. The consolidated statement of operations includes interest expense of $5,012 and $4,177 for the year ended December 31, 2020 and 2019, respectively. On December 31, 2020 and 2019, the carrying amount of the Note is $29,960 (face value of $29,960 less $0 unamortized discount) and $25,062 (face value of $25,062 less $0 unamortized discount), respectively. |
Notes Payable
Notes Payable | 12 Months Ended |
Dec. 31, 2020 | |
Notes Payable | |
Notes Payable | NOTE 4 – NOTES PAYABLE As of December 31, 2020 and 2019, notes payable due to Stuart Turk, Jordan Turk and The Cellular Connection Limited, a corporation controlled by Stuart Turk, totaling $83,332 and $48,461, respectively, were outstanding. The balances are non-interest bearing, unsecured and have no specified terms of repayment. During the year ended December 31, 2020, notes payable were issued for $137,415 expenses paid on behalf of the Company and $14,626 for cash advanced to the Company and notes payable were repaid by the Company with $117,170 in cash. During the year ended December 31, 2019, notes payable were issued for $222,615 expenses paid on behalf of the Company and $9,489 cash advanced to the Company and notes payable were repaid by the Company with $107,380 of cash and the issuance of $127,853 in non-redeemable convertible notes. On September 30, 2019, the Company issued promissory notes to settle notes payable of $76,263 (See Note 5). |
Promissory Notes
Promissory Notes | 12 Months Ended |
Dec. 31, 2020 | |
Promissory Notes | |
Promissory Notes | NOTE 5 – PROMISSORY NOTES Promissory Note As of December 31, 2020 and 2019, a promissory note of $85,796 (principal $76,263 and interest of $9,533) and $78,170 (principal $76,263 and interest of $1,907), respectively, was outstanding. The promissory note bears interest of 10% per annum, is unsecured and matures on December 31, 2021. The promissory note was issued on September 30, 2019 to settle notes payable of $76,263. Promissory Notes – Related Party As of December 31, 2020 and 2019, promissory notes – related party of $194,485 (principal $172,876 and interest of $21,609) and $177,197 (principal $172,876 and interest of $4,321), respectively, were outstanding. The promissory notes – related party bear interest of 10% per annum, are unsecured, mature on December 31, 2021 and are due to Nadav Elituv, the Company's Chief Executive Officer. The promissory notes – related party were issued on September 30, 2019 to settle advances and accrued salary due to related party of $172,876. |
Convertible Note
Convertible Note | 12 Months Ended |
Dec. 31, 2020 | |
Debt Disclosure [Abstract] | |
Convertible Note | NOTE 6 – CONVERTIBLE NOTE Firstfire Global Opportunities Fund, LLC On March 1, 2019, the Company entered into a Securities Purchase Agreement with Firstfire Global Opportunities Fund, LLC, (“Holder”) relating to the issuance and sale of a Senior Convertible Note (the “Note”) with an original principal amount of $200,000 less an original issue discount of $20,000 and transaction costs of $5,000 bearing a 7% annual interest rate and maturing September 1, 2020 for $175,000 in cash. The Note and accrued interest, at the option of the Holder, is convertible into common shares of the Company at $0.10 per share. After 180 days after the issue date, the Note together with any unpaid accrued interest is convertible into shares of common stock of the Company at the Holder’s option at the lessor of (i) $0.10 per share or (ii) a variable conversion price calculated at 65% of the market price defined as the lowest trading price during the ten trading day period ending on the latest trading day prior to the conversion date. The Company may prepay the Note in cash, if repaid within 90 days of date of issue, at 115% of the original principal amount plus interest, between 90 days and 120 days at 120% of the original principal amount plus interest and between 120 days and 180 days at 130% of the original principal amount plus interest. Thereafter, the Company does not have the right of prepayment. During the year ended December 31, 2020, the Holder converted 2,695,000 shares of common stock of the Company with a fair value of $208,285 to settle principal and interest of $106,232 ($94,232 of principal and $12,000). The conversions resulted in the settlement of derivative liabilities of $153,668 and a loss on settlement of debt of $48,097. On December 31, 2020 and 2019, the Note was recorded at amortized cost of $0 and $19,752 (comprised of principal of $94,232 plus accrued interest of $10,284 less debt discount of $84,764 ), respectively. Power Up Lending Group Ltd. On February 3, 2020 the Company entered into a Securities Purchase Agreement with Power Up Lending Group Ltd. (“Holder”) relating to the issuance and sale of a Senior Convertible Note (the “Note”) with an original principal amount of $103,000 less transaction costs of $3,000 bearing an 8% annual interest rate and maturing July 31, 2021 for $100,000 in cash. After 180 days after the issue date, the Note together with any unpaid accrued interest is convertible into shares of common stock of the Company at the Holder’s option at a variable conversion price calculated at 65% of the market price defined as the lowest three average trading price during the ten trading day period ending on the latest trading day prior to the conversion date. The Company may prepay the Note in cash, if repaid within 90 days of date of issue, at 118% of the original principal amount plus interest, between 91 days and 120 days at 123% of the original principal amount plus interest, between 121 days and 180 days at 129% of the original principal amount plus interest and after 181 days 175% of the original principal amount plus interest. From August 5, 2020 to August 24, 2020, the Holder converted 29,392,037 shares of common stock of the Company with a fair value of $145,312 to settle principal and interest of $107,120 ($103,000 of principal and $4,120). The conversions resulted in the settlement of derivative liabilities of $131,380 and a loss on settlement of debt of $490. On December 31, 2020 and 2019, the Note was recorded at amortized cost of $0 and $0, respectively. On April 14, 2020 the Company entered into a Securities Purchase Agreement with Power Up Lending Group Ltd. (“Holder”) relating to the issuance and sale of a Senior Convertible Note (the “Note”) with an original principal amount of $68,000 less transaction costs of $3,000 bearing an 8% annual interest rate and maturing October 14, 2021 for $65,000 in cash. After 180 days after the issue date, the Note together with any unpaid accrued interest is convertible into shares of common stock of the Company at the Holder’s option at a variable conversion price calculated at 65% of the market price defined as the lowest three average trading price during the ten trading day period ending on the latest trading day prior to the conversion date. The Company may prepay the Note in cash, if repaid within 90 days of date of issue, at 118% of the original principal amount plus interest, between 91 days and 120 days at 123% of the original principal amount plus interest, between 121 days and 180 days at 129% of the original principal amount plus interest and after 181 days 175% of the original principal amount plus interest. During the year ended December 31, 2020, the Holder converted 36,290,909 shares of common stock of the Company with a fair value of $108,885 to settle principal and interest of $70,720 ($68,000 of principal and $2,720). The conversions resulted in the settlement of derivative liabilities of $90,117 and a loss on settlement of debt of $9,486. On December 31, 2020 and 2019, the Note was recorded at amortized cost of $0 and $0, respectively. On July 13, 2020 the Company entered into a Securities Purchase Agreement with Power Up Lending Group Ltd. (“Holder”) relating to the issuance and sale of a Senior Convertible Note (the “Note”) with an original principal amount of $53,000 less transaction costs of $3,000 bearing an 8% annual interest rate and maturing July 13, 2021 for $50,000 in cash. After 180 days after the issue date, the Note together with any unpaid accrued interest is convertible into shares of common stock of the Company at the Holder’s option at a variable conversion price calculated at 65% of the market price defined as the lowest three average trading price during the ten trading day period ending on the latest trading day prior to the conversion date. The Company may prepay the Note in cash, if repaid within 90 days of date of issue, at 118% of the original principal amount plus interest, between 91 days and 120 days at 123% of the original principal amount plus interest, between 121 days and 180 days at 129% of the original principal amount plus interest and after 181 days 175% of the original principal amount plus interest. On December 31, 2020 and 2019, the Note was recorded at amortized cost of $5,274 (comprised of principal of $53,000 plus accrued interest of $1,986 less debt discount of $49,712) and $0, respectively. On September 11, 2020 the Company entered into a Securities Purchase Agreement with Power Up Lending Group Ltd. (“Holder”) relating to the issuance and sale of a Senior Convertible Note (the “Note”) with an original principal amount of $78,000 less transaction costs of $3,000 bearing an 8% annual interest rate and maturing March 11, 2022 for $75,000 in cash. After 180 days after the issue date, the Note together with any unpaid accrued interest is convertible into shares of common stock of the Company at the Holder’s option at a variable conversion price calculated at 65% of the market price defined as the lowest three average trading price during the ten trading day period ending on the latest trading day prior to the conversion date. The Company may prepay the Note in cash, if repaid within 90 days of date of issue, at 118% of the original principal amount plus interest, between 91 days and 120 days at 123% of the original principal amount plus interest, between 121 days and 180 days at 129% of the original principal amount plus interest and after 181 days 175% of the original principal amount plus interest. On December 31, 2020 and 2019, the Note was recorded at amortized cost of $2,559 (comprised of principal of $78,000 plus accrued interest of $1,898 less debt discount of $77,339) and $0, respectively. Crown Bridge Partners, LLC On January 20, 2020, the Company entered into an Equity Purchase Agreement (“Agreement”) with Crown Bridge Partners, LLC, (“Holder”). In conjunction with the Agreement the Company entered into a Convertible Promissory Note (“Note”) for the commitment fee due to the Holder with an original principal amount of $25,000 bearing an 8% annual interest rate and maturing July 20, 2020. The Note and accrued interest, at the option of the Holder, is convertible into common shares of the Company at the Holder’s option at the lessor of (i) at a fixed conversion price of $0.20 per share or (ii) at a variable conversion price, while this Note is outstanding, at the greatest discount to market price of the shares of common stock of the Company in effect for other promissory notes outstanding for the Company. The greatest discount to market price is calculated at 65% of the market price defined as the lowest trading price during the ten trading day period ending on the latest trading day prior to the conversion date. The Company may prepay the Note in cash within 90 days of date of issue, at 118% of the original principal amount plus interest. On July 20, 2020, the Note went into default for non-payment. Due to the default, in accordance with the original terms of the Note, on July 20, 2020 outstanding principal and interest at was increased by 36% to $36,720 resulting in a loss on extinguishment of $21,546 (increase in principal and interest of $10,724 and increase in derivative liability of $10,822) and interest rate on the Note was increased to 12% per annum. On August 31, 2020, the Holder issued 10,400,000 shares of common stock of the Company with a fair value of $41,600 to settle principal of $19,104. The conversions resulted in the settlement of derivative liabilities of $26,332 and a gain on settlement of debt of $3,825. On October 8, 2020, the Holder issued 12,253,846 shares of common stock of the Company with a fair value of $49,015 to settle principal of $18,102. The conversions resulted in the settlement of derivative liabilities of $31,829 and a gain on settlement of debt of $916. On December 31, 2020 and 2019, the Note was recorded at amortized cost of $0 and $0, respectively. |
Convertible Promissory Note Der
Convertible Promissory Note Derivative Liabilities | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Convertible Promissory Note Derivative Liabilities | NOTE 7 - CONVERTIBLE PROMISSORY NOTE DERIVATIVE LIABILITIES The Convertible Promissory Notes with Firstfire Global Opportunities Fund, LLC, Crown Bridge Partners, LLC and Power Up Lending Group Ltd. with issue dates of March 1, 2019, January 20, 2020, February 3, 2020, April 14, 2020, July 13, 2020 and September 11, 2020, respectively, are accounted for under ASC 815. The variable conversion price is not considered predominantly based on a fixed monetary amount settleable with a variable number of shares due to the volatility and trading volume of the Company’s common stock. The Company’s convertible promissory note derivative liabilities have been measured at fair value on March 1, 2019, December 31, 2019, January 20, 2020, February 3, 2020, April 14, 2020, July 13, 2020, September 11, 2020 and December 31, 2020 using the binomial model. The inputs into the binomial models are as follows: March 1, 2019 December 31, 2019 January 20, 2020 February 3. 2020 April 14, 2020 July 13, 2020 September 11, 2020 December 31, 2020 Closing share price $ 0.07 $ 0.20 $ 0.18 $ 0.115 $ 0.0559 $ 0.0105 $ 0.0037 $ 0.0031 Conversion price $ 0.0364 $ 0.0683 $ 0.0488 $ 0.0587 $ 0.0338 $ 0.0068 $ 0.0024 $ 0.0019 Risk free rate 2.55 % 1.60 % 1.57 % 1.60 % 2.40 % 0.16 % 0.13 % 0.09% to 0.10% Expected volatility 403 % 294 % 351 % 434 % 330 % 294 % 270 % 228% to 284% Dividend yield 0 % 0 % 0 % 0 % 0 % 0 % 0 % 0 % Expected life 1.51 years 0.67 years 0.5 years 1.49 years 1.5 years 1.0 years 1.5 years 0.53 to 1.19 years The fair value of the convertible promissory note derivative liability relating to the Notes issued to Firstfire Global Opportunities Fund, LLC, Power Up Lending Group Ltd. and Crown Bridge Partners, LLC on March 1, 2019, February 3, 2020, January 20, 2020, April 14, 2020, July 13, 2020 and September 11, 2020 was $573,863 (2019 - $380,919), of which $315,000 (2019 - $175,000) was recorded as a debt discount and the remainder of $258,863 (2019 - $205,919) was recorded as initial derivative expense. During the year ended December 31, 2020, the convertible promissory note derivative liability was reduced by $422,492 (2019 - $0) for settlement of derivative liabilities due to conversion of the Notes into common stock by the Holders. The decrease (increase) in the fair value of the conversion option derivative liability of $246,098 and $(26,514), respectively is recorded as a gain (loss) in the consolidated statements of operations for the years ended December 31, 2020 and 2019, respectively. The fair value of the convertible promissory note derivative liabilities is $172,261 and $266,989 December 31, 2020 and 2019, respectively. |
Warrant Liability
Warrant Liability | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Warrant Liability | NOTE 8 – WARRANT LIABILITY In conjunction with the issuance of the Senior Convertible Note with Firstfire Global Opportunities Fund, LLC (the “Note”) on March 1, 2019, the Company issued 1,000,000 warrants with an exercise price of $0.20 and a term of two years. The warrants are subject to down round and other anti-dilution protections. The warrant is tainted and classified as a liability as a result of the issuance of the Note since there is a possibility during the life of the warrant the Company would not have enough authorized shares available if the warrant is exercised. The Company’s warrant liability has been measured at fair value on March 1, 2019, December 31, 2019 and April 14, 2020 using the binomial model. The inputs into the binomial models are as follows: March 1, 2019 December 31, 2019 April 14, 2020 Closing share price $ 0.07 $ 0.20 $ 0.0559 Exercise price $ 0.20 $ 0.20 $ 0.20 Risk free rate 2.27 % 1.59 % 1.59 % Expected volatility 364 % 338 % 310 % Dividend yield 0 % 0 % 0 % Expected life 2.0 years 1.17 years 0.88 years The fair value of the warrant liability on March 1, 2019 was $68,798. The decrease (increase) in the fair value of the warrant liability of $144,059 and $(116,762) is recorded as a gain (loss) in the consolidated statements of operations for the years ended December 31, 2020 and 2019, respectively. The fair value of the warrant liability is $0 and $185,560 on December 31, 2020 and 2019, respectively. On April 14, 2020, the Company issued 2,000,000 shares of common stock with a fair value of $111,800 to fully settle the 1,000,000 warrants issued in conjunction with the issuance of the Senior Convertible Note with Firstfire Global Opportunities Fund, LLC on March 1, 2019. The issue of the shares resulting in a loss on settlement of warrant liability of $70,299. |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2020 | |
Related Party Transactions | |
Related Party Transactions | NOTE 9 – RELATED PARTY TRANSACTIONS As of December 31, 2020 and 2019, advances and accrued salary of $106,928 and $17,840, respectively, were due to Nadav Elituv, the Company's Chief Executive Officer. The balance is non-interest bearing, unsecured and have no specified terms of repayment. During the year ended December 31, 2020, the Company issued advances due to related party for $94,944 expenses paid on behalf of the Company and for $5,215 cash advanced to the Company and advances due to related party were repaid by the Company with $86,671 in cash. During the year ended December 31, 2019, the Company issued advances due to related party of $84,163 for expenses paid on behalf of the Company, cash received of $28,455, settlement of accrued compensation of $75,600 and settlement of account payable of $11,817 and Company repaid advance due to related party with $52,542 in cash and $9,448 in shares of common stock of the Company. On September 30, 2019, the Company issued promissory notes to settle advances and accrued salary of $172,876 (See Note 5). Employment Agreements On September 10, 2018, the Company executed an employment agreement for the period from July 1, 2018 to June 30, 2019 with Nadav Elituv, the Chief Executive Officer of the Company whereby the Company shall pay 50,000 shares of Common Stock of the Company and an annual salary of $151,200 payable monthly on the first day of each month from available funds. On September 10, 2019, the Company executed an employment agreement for the period from July 1, 2019 to June 30, 2020 with Nadav Elituv, the Chief Executive Officer of the Company whereby the Company shall pay 50,000 shares of Common Stock of the Company and an annual salary of $151,200 payable monthly on the first day of each month from available funds. On November 1, 2019, this employment agreement was amended to include additional stock-based compensation comprising of 30,000 shares of Series A Convertible Preferred Stock. On December 20, 2019, January 29, 2020, February 28, 2020, March 30, 2020 and April 30, 2020 the employment agreement was further amended to include additional stock-based compensation comprising of 873,609 shares, 1,000,000 shares, 1,000,000 shares, 2,500,000 shares and 2,000,000 shares of common stock of the Company, respectively. On August 7, 2020, the Company executed an employment agreement for the period from July 1, 2020 to June 30, 2021 with Nadav Elituv, the Chief Executive Officer of the Company whereby the Company shall pay 50,000,000 shares of Common Stock of the Company and an annual salary of $151,200 payable monthly on the first day of each month from available funds. Stock-based compensation – salaries expense related to these employment agreements for the years ended December 31, 2020 and 2019 is $491,450 and $1,762,557, respectively. Stock-based compensation – salaries expense was recognized ratably over the requisite service period. |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2020 | |
Income Taxes | |
Income Taxes | NOTE 10 - INCOME TAXES A reconciliation of the provision for income taxes at the United States federal statutory rate compared to the Company’s income tax expense as reported is as follows: 2020 2019 Net loss before income taxes per consolidated financial statements $ (7,666,062 ) $ (5,676,436 ) Income tax rate 21 % 21 % Income tax recovery (1,610,000 ) (1,192,100 ) Non-deductible share-based payments 1,062,100 566,600 Non-deductible interest 50,300 33,200 Loss on settlement of debt 431,200 293,600 Initial derivative expense 54,400 57,700 Change in fair value of derivative expense (82,000 ) 30,000 Valuation allowance change 94,000 211,000 Income tax expense (recovery) $ — $ — The significant component of deferred income tax assets on December 31, 2020 and 2019 is as follows: 2020 2019 Net operating loss carry-forward $ 893,000 $ 799,900 Valuation allowance (893,000 ) (799,900 ) Net deferred income tax asset $ — $ — The amount taken into income as deferred income tax assets must reflect that portion of the income tax loss carry forwards that is more likely-than-not to be realized from future operations. The Company has chosen to provide a full valuation allowance against all available income tax loss carry forwards. The Company has recognized a valuation allowance for the deferred income tax asset since the Company cannot be assured that it is more likely than not that such benefit will be utilized in future years. The valuation allowance is reviewed annually. When circumstances change and which cause a change in management’s judgment about the realizability of deferred income tax assets, the impact of the change on the valuation allowance is generally reflected in current income. As of December 31, 2020 and 2019 the Company has no unrecognized income tax benefits. The Company’s policy for classifying interest and penalties associated with unrecognized income tax benefits is to include such items as tax expense. No interest or penalties have been recorded during the year ended December 31, 2020 and 2019 and no interest or penalties have been accrued as of December 31, 2020 and 2019. As of December 31, 2020 and 2019, the Company did not have any amounts recorded pertaining to uncertain tax positions. The tax years from 2009 and forward remain open to examination by federal and state authorities due to net operating loss and credit carryforwards. The Company is currently not under examination by the Internal Revenue Service or any other taxing authorities. |
Preferred Stock
Preferred Stock | 12 Months Ended |
Dec. 31, 2020 | |
Preferred Stock | |
Preferred Stock | NOTE 11 – PREFERRED STOCK On August 6, 2013, the Company filed a Certificate of Designation with the Delaware Secretary of State thereby designating two hundred thousand (200,000) shares as Series A Convertible Preferred Stock (“Series A Stock”). Each share of Series A Stock is (i) convertible into one thousand (1,000) shares of common stock of the Company and (ii) entitled to the number of votes equal to the aggregate number of shares of common stock into which the Holder’s share of Series A Stock is convertible, multiplied by one hundred (100). On December 12, 2019, the Company filed a Certificate of Designation with the Delaware Secretary of State thereby designating one hundred thousand (100,000) shares as Series B Convertible Preferred Stock (“Series B Stock”). After a one year holding period, each share of Series B Stock is convertible into one thousand (1,000) shares of common stock of the Company. Series B Stock is non-voting. On October 7, 2020, the Company filed a Certificate of Designation with the Delaware Secretary of State thereby designating five thousand (5,000) shares as Series C Convertible Preferred Stock, par value $0.001 per share (“Series C Stock”). Each share of Series C Stock (i) has a liquidation value of $100, subject to various anti-dilution protections (ii) is convertible into shares of common stock of the Company six months after the date of issuance at a price of $0.0035 per share, subject to various anti-dilution protections (iii) on conversion will receive an aggregate number of shares of common stock as is determined by dividing the liquidation value by the conversion price. Series C Stock are non-voting. Series A Stock, Series B Stock and Series C Stock has been classified as temporary equity (outside of permanent equity) on the consolidated balance sheet on December 31, 2020 and 2019 because other tainting contracts such as convertible notes have inadequate available authorized shares of the Company for settlement. On October 7, 2020, the Company agree to issue 5,000 shares of Series C Convertible Preferred Stock with a fair value of $542,857 ($108.57 per share) for a one-year subscription to an online marketing platform to support the gocart.city grocery delivery application. On November 1, 2019, the Company issued 30,000 shares of Series A Convertible Preferred Stock with a fair value of $33,000 ($1.10 per share) for stock-based compensation due to Nadav Elituv, the Chief Executive Officer of the Company. On December 19, 2019, the Company issued 4,000 shares of Series B Convertible Preferred Stock with a fair value of $1,520,000 ($380 per share) for services to be provided from December 19, 2019 to December 19, 2020. |
Stockholders' Deficit
Stockholders' Deficit | 12 Months Ended |
Dec. 31, 2020 | |
Stockholders Deficit | |
Stockholders' Deficit | NOTE 12 - STOCKHOLDERS' EQUITY The Company is authorized to issue an aggregate of 3,000,000,000 common shares with a par value of $0.0001 per share and 1,000,000 shares of preferred stock with a par value of $0.0001 per share. On November 5, 2019, pursuant to stockholder consent, our Board of Directors authorized an amendment (the "Amendment") to our Certificate of Incorporation, as amended, to affect a reverse stock split of the issued and outstanding shares of our common stock, par value $0.0001, on a 1 for 1,000 basis. We filed the Amendment with the Delaware Secretary of State on November 18, 2019. On December 11, 2019 the Financial Industry Regulatory Authority, Inc. notified us that the reverse stock split would take effect on December 12, 2019. All common stock share and per-share amounts for all periods presented in these consolidated financial statements have been adjusted retroactively to reflect the reverse stock split. During the year ended December 31, 2020, the Holders of the Senior Convertible Notes issued on March 1, 2019, January 20, 2020, February 3, 2020 and April 14, 2020 elected to convert $302,438 of principal and $18,840 of interest into 91,031,792 shares of common stock of the Company with a fair value of $553,097 resulting in a loss on extinguishment of debt of $53,332. On April 14, 2020, the Company issued 2,000,000 shares of common stock with a fair value of $111,800 to fully settle the 1,000,000 warrants issued in conjunction with the issuance of the Senior Convertible Note with Firstfire Global Opportunities Fund, LLC on March 1, 2019. The issue of the shares resulting in a loss on settlement of warrant liability of $70,299. On May 7, 2020, The Company issued 11,111,111 shares of common stock with a fair value of $200,000 for a subscription to an online marketing platform to support the gocart.city grocery delivery application. During the year ended December 31, 2020, the Company issued 17,999,999 shares of common stock and incurred an obligation to issue 32,000,001 shares of common stock for prepaid stock-based compensation for consulting services with a fair value of $525,000. During the year ended December 31, 2020, the Company issued 97,500,000 shares of common stock for stock-based compensation for consulting services with a fair value of $1,025,100. During the year ended December 31, 2020, the Company issued 154,000,000 shares of common stock for stock-based compensation due to officer and directors with a fair value of $1,896,800. On April 5, 2019, the Company issued 100 shares of common stock to settle shares to be issued for professional services (common stock to be issued) valued at $8,000 ($80.00 per share). On April 5, 2019, the Company issued 100 shares of common stock valued at $7,000 ($70.00 per share) for professional services. On June 11, 2019, the Company issued 30,000 shares of common stock to settle shares to be issued (common stock to be issued) valued at $903,000 ($30.10 per share), which has been recorded ratably over the contract period of July 1, 2018 to June 30, 2019, for stock based compensation due to Nadav Elituv, the Chief Executive Officer of the Company. On September 10, 2019, the Company issued 50,000 shares of common stock valued at $765,000 ($15.30 per share) for stock based compensation due to Nadav Elituv, the Chief Executive Officer of the Company. On September 19, 2019, the Company issued 24,387 shares of common stock valued at $151,200 ($6.20 per share), to fully settle salary payable, for the period July 1, 2019 to June 30, 2020, due to Nadav Elituv, the Chief Executive Officer of the Company. On September 19, 2019, the Company issued 1,524 shares of common stock valued at $9,448 ($6.20 per share), to settle advances payable due to Nadav Elituv, the Chief Executive Officer of the Company. On September 20, 2019, the Company issued 5,910 shares of common stock valued at $31,912 ($5.40 per share), to settle accounts payable. On December 20, 2019, the Company issued 873,609 shares of common stock valued at $255,531 ($0.2925 per share) for stock based compensation due to Nadav Elituv, the Chief Executive Officer of the Company. On December 20, 2019, the Company issued 2,960,059 shares of common stock valued at $865,817 ($0.2925 per share) for stock based compensation due to Directors of the Company. During the year ended December 31, 2019, the Company issued 1,471,369 shares of common stock valued at $294,274 ($0.2000 per share) for stock based compensation. During the year ended December 31, 2019, the Company elected to convert $12,933 of principal and interest of non-redeemable convertible notes into 354,700 shares of common stock of the Company valued at $1,351,700. The conversions resulted in a loss on settlement of debt of $1,338,767. During the year ended December 31, 2019, the Holder of the Convertible Note elected to convert $105,768 of principal and debt discount of $97,038 into 337,600 shares of common stock of the Company with a fair value of $208,551. The conversions resulted in the settlement of derivative liabilities of $140,444 and a loss on settlement of debt of $59,378. During the year ended December 31, 2019, the Company issued 2,230 shares of common stock for $111,500 in cash. During the year ended December 31, 2020, the Company elected to convert $31,569 of principal and interest of non-redeemable convertible notes into 315,665,264 shares of common stock of the Company with a fair value of $1,939,444 resulting in a loss of extinguishment of debt of $1,907,875. Common stock to be issued On December 31, 2020 and 2019, the Company had an obligation to issue 32,000,001 shares of common stock valued at $336,000 and 0 shares of common stock, respectively, for stock-based compensation – consulting services. 2015 Stock Option Plan On February 12, 2020, the Board of Directors approved the 2020 Stock Incentive Plan (the “2020 Plan”) to attract and retain the best available personnel, to provide additional incentive to employees, directors and consultants, and to promote the success of the Company's business. Pursuant to the 2020 Plan, the Board may grant incentive stock options, non-qualified stock options, stock appreciation rights, restricted shares and restricted share units. to eligible persons. The maximum aggregate number of shares of common stock with respect to which awards granted under the Plan shall not exceed 50,000,000. On December 31, 2020, there are 10,500,000 shares of common stock available in the 2020 Plan. |
Subsequent Events
Subsequent Events | 12 Months Ended |
Dec. 31, 2020 | |
Subsequent Events [Abstract] | |
Subsequent Events | NOTE 13 – SUBSEQUENT EVENTS From January 1, 2021 to March 26, 2021, the Company elected to convert $44,350 of principal and interest of non-redeemable convertible notes into 443,500,000 shares of common stock of the Company with a fair value of $1,938,150 resulting in a loss of extinguishment of debt of $1,893,800. From January 1, 2021 to March 26, 2021, the Holders of the Senior Convertible Notes issued on July 13, 2020 and September 11, 2020 elected to convert $131,000 of principal and $5,240 of interest into 63,672,223 shares of common stock of the Company with a fair value of $218,127. From January 1, 2021 to March 26, 2021, the Company issued 30,000,000 shares of common stock for stock-based compensation for consulting services with a fair value of $270,000. From January 1, 2021 to March 26, 2021, the Company issued 2,500,000 shares of common stock for stock-based compensation due to officer and directors with a fair value of $16,000. On January 20, 2021, the Company issued a Side Letter Convertible Promissory Note (“Note”) for $15,823 in cash. The issue price of the Note is $15,823 with a face value of $23,735 and the Note is due on demand. At the option of the Company, the Company may convert principal and interest at a fixed conversion price of $0.0034 per share of the Company’s common stock. On January 20, 2021, the Company and the holder of the Note agreed to convert $23,735 of principal and interest into 8,823,529 shares of common stock of the Company. Redstart Holdings Corp. On February 23, 2021, the Company entered into a Securities Purchase Agreement with Redstart Holdings Corp. (“Holder”) relating to the issuance and sale of a Convertible Note (the “Note”) with an original principal amount of $153,000 less transaction costs of $3,000 bearing an 8% annual interest rate and maturing August 23, 2022 for $150,000 in cash. After 180 days after the issue date, the Note together with any unpaid accrued interest is convertible into shares of common stock of the Company at the Holder’s option at a variable conversion price calculated at 65% of the market price defined as the lowest three average trading price during the ten trading day period ending on the latest trading day prior to the conversion date. The Company may prepay the Note in cash, if repaid within 90 days of date of issue, at 118% of the original principal amount plus interest, between 91 days and 120 days at 123% of the original principal amount plus interest, between 121 days and 180 days at 129% of the original principal amount plus interest and after 181 days 175% of the original principal amount plus interest. |
Summary Of Significant Accoun_2
Summary Of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure Summary Of Significant Accounting Policies Policies Abstract | |
Basis of Presentation | BASIS OF PRESENTATION The financial statements present the balance sheets and statements of operations, stockholders' equity and cash flows of the Company. These financial statements are presented in United States dollars and have been prepared in accordance with accounting principles generally accepted in the United States. |
COVID 19 | COVID-19 The recent outbreak of the coronavirus COVID-19 has spread across the globe and is impacting worldwide economic activity. Conditions surrounding the coronavirus continue to rapidly evolve and government authorities have implemented emergency measures to mitigate the spread of the virus. The outbreak and the related mitigation measures have had and will continue to have a material adverse impact on global economic conditions as well as on the Company's business activities. The extent to which COVID-19 may impact the Company's business activities will depend on future developments, such as the ultimate geographic spread of the disease, the duration of the outbreak, travel restrictions, business disruptions, and the effectiveness of actions taken in the Canada, United States and other countries to contain and treat the disease. These events are highly uncertain and, as such, the Company cannot determine their financial impact at this time. No adjustments have been made to the amounts reported in these consolidated financial statements as a result of this matter. |
Going Concern | GOING CONCERN The Company's financial statements are prepared in accordance with generally accepted accounting principles applicable to a going concern. This contemplates the realization of assets and the liquidation of liabilities in the normal course of business. During the year ended December 31, 2020, the Company incurred a net loss of $7,666,062 and used cash in operating activities of $314,429, and on December 31, 2020, had stockholders’ deficit of $2,783,920. These factors, among others, raise substantial doubt about the Company’s ability to continue as a going concern for a period one year from the date that the financial statements are issued. The Company will be dependent upon the raising of additional capital through placement of its common stock in order to implement its business plan. There can be no assurance that the Company will be successful in this situation. The Company is unable to predict the effect, if any, that the coronavirus COVID-19 global pandemic may have on its access to the financing markets. These financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or amounts and classifications of liabilities that might result from this uncertainty. We are currently funding our operations by way of cash advances from our Chief Executive Officer, note holders, shareholders and others; however, we do not have any oral or written agreements with them or others to loan or advance funds to us. There can be no assurances that we will be able to receive loans or advances from them or other persons in the future. |
Principles of Consolidation | PRINCIPLES OF CONSOLIDATION The consolidated financial statements include the accounts of the Company and its wholly owned subsidiary, I8 Interactive Corporation. All intercompany transactions and balances have been eliminated in consolidation. |
Use of Estimates and Assumptions | USE OF ESTIMATES AND ASSUMPTIONS Preparation of the financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates. |
Cash and Cash Equivalents | CASH AND CASH EQUIVALENTS For purposes of the statement of cash flows, the Company considers highly liquid financial instruments purchased with a maturity of three months or less to be cash equivalents. |
Accounts Receivable | ACCOUNTS RECEIVABLE Trade accounts receivable are recorded at the invoiced amount and do not bear interest. Accounts receivable are reduced by an allowance for doubtful accounts, which is the Company’s best estimate of the amount of credit losses inherent in its existing accounts receivable. In establishing the required allowance, management considers historical losses adjusted to take into account current market conditions and customers’ financial condition, the amount of receivables in dispute, and the current receivables aging and current payment patterns. The Company writes off accounts receivable against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote. The allowance for doubtful accounts at December 31, 2020 and 2019 is $0 and $0, respectively. |
Property and Equipment | PROPERTY AND EQUIPMENT Property and equipment is stated at cost, less accumulated depreciation and amortization. Expenditures for maintenance and repairs are charged to expense when incurred, while renewals and betterments that materially extend the life of an asset are capitalized. The costs of assets sold, retired, or otherwise disposed of, and the related allowance for depreciation, are eliminated from the accounts, and any resulting gain or loss is recognized in the results from operations. Depreciation is provided over the estimated useful lives of the assets, which are as follows: Computer equipment 50% declining balance over a three year useful life In the year of acquisition, one half the normal rate of depreciation is provided. |
Revenue Recognition | REVENUE RECOGNITION In accordance with ASC 606, revenue is recognized when a customer obtains control of promised goods or services. The amount of revenue recognized reflects the consideration to which we expect to be entitled to receive in exchange for these goods or services. The provisions of ASC 606 include a five-step process by which we determine revenue recognition, depicting the transfer of goods or services to customers in amounts reflecting the payment to which we expect to be entitled in exchange for those goods or services. ASC 606 requires us to apply the following steps: (1) identify the contract with the customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations in the contract; and (5) recognize revenue when, or as, we satisfy the performance obligation. We recognize revenue for the sale of our products upon delivery to a customer. During the year ended December 31, 2020 and 2019, the Company had revenue of $159,025 and $0, respectively. The Company recognized revenue of $42,593 from the sale of groceries to consumers via the gocart.city online grocery delivery application, $112,751 from the sale of dry goods and produce to other businesses and $3,681 from the sale of computer equipment. |
Research and Development Costs | RESEARCH AND DEVELOPMENT COSTS We incurred research and development costs primarily to the development of Two Hands gone application. Research and development costs are comprised primarily of contract labor and services. As of December 31, 2020 and 2019, the Company incurred $0 and $0 in research and development costs. Software development costs are included in research and development and are expensed as incurred. FASB ASC Topic 350 Intangibles—Goodwill and Other |
Debt Discount and Debt Issuance Costs | DEBT DISCOUNT AND DEBT ISSUANCE COSTS Debt discounts and debt issuance costs incurred in connection with the issuance of convertible notes are capitalized and amortized to interest expense based on the related debt agreements using the effective interest rate method. Unamortized discounts are netted against convertible notes. |
Derivative Liability | DERIVATIVE LIABILITY In accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Paragraph 815-15-25-1 the conversion feature and certain other features are considered embedded derivative instruments, such as a conversion reset provision, a penalty provision and redemption option, which are to be recorded at their fair value as its fair value can be separated from the convertible note and its conversion is independent of the underlying note value. The Company records the resulting discount on debt related to the conversion features at initial transaction and amortizes the discount using the effective interest rate method over the life of the debt instruments. The conversion liability is then marked to market each reporting period with the resulting gains or losses shown in the statements of operations. In circumstances where the embedded conversion option in a convertible instrument is required to be bifurcated and there are also other embedded derivative instruments in the convertible instrument that are required to be bifurcated, the bifurcated derivative instruments are accounted for as a single, compound derivative instrument. The Company follows ASC Section 815-40-15 (“Section 815-40-15”) to determine whether an instrument (or an embedded feature) is indexed to the Company’s own stock. Section 815-40-15 provides that an entity should use a two-step approach to evaluate whether an equity-linked financial instrument (or embedded feature) is indexed to its own stock, including evaluating the instrument’s contingent exercise and settlement provisions. The Company evaluates its convertible debt, options, warrants or other contracts, if any, to determine if those contracts or embedded components of those contracts qualify as derivatives to be separately accounted for in accordance with paragraph 810-10-05-4 and Section 815-40-25 of the FASB Accounting Standards Codification. The result of this accounting treatment is that the fair value of the embedded derivative is marked-to-market each balance sheet date and recorded as either an asset or a liability. In the event that the fair value is recorded as a liability, the change in fair value is recorded in the consolidated statement of operations as other income or expense. Upon conversion, exercise or cancellation of a derivative instrument, the instrument is marked to fair value at the date of conversion, exercise or cancellation and then that the related fair value is reclassified to equity. The Company utilizes the binomial option pricing model to compute the fair value of the derivative and to mark to market the fair value of the derivative at each balance sheet date. The binomial option pricing model includes subjective input assumptions that can materially affect the fair value estimates. The expected volatility is estimated based on the most recent historical period of time equal to the remaining contractual term of the instrument granted. |
Income Taxes | INCOME TAXES The Company accounts for income taxes in accordance with Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("FASB ASC") 740, Income Taxes. Under the assets and liability method of FASB ASC 740, deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. The Company provides a valuation allowance, if necessary, to reduce deferred tax assets to their estimated realizable value. |
Net Loss Per Share | NET LOSS PER SHARE Basic net income (loss) per share includes no dilution and is computed by dividing net income (loss) available to common stockholders by the weighted average number of common shares outstanding for the period. Diluted earnings per share is computed by dividing earnings available to common shareholders by the weighted average number of common shares outstanding for the period increased to include the number of additional common shares that would have been outstanding if potentially dilutive securities had been issued. On December 31, 2020 and 2019, we excluded the common stock issuable upon conversion of non-redeemable convertible notes, convertible notes, Series A Stock, Series B Stock, Series C Stock, common stock to be issued and warrants of 8,379,046,549 shares and 7,016,249,249 shares, respectively, as their effect would have been anti-dilutive. On December 31, 2020, common stock equivalents exceed authorized shares of common stock of the Company. |
Foreign Currency Translation | FOREIGN CURRENCY TRANSLATION The financial statements are presented in the Company’s functional currency which is the United States dollars. The functional currency of the Company’s Canadian subsidiary, I8 Interactive Corporation, is the United States dollar. In accordance with FASB ASC 830, Foreign Currency Matters, foreign denominated monetary assets and liabilities are translated to their United States dollar equivalents using foreign exchange rates which prevailed at the balance sheet date. Non-monetary assets and liabilities are translated at exchange rates prevailing at the transaction date. Revenue and expenses are translated at average rates of exchange during the periods presented. Related translation adjustments are reported as gains or losses resulting from foreign currency transactions and are included in results of operations. |
Stock-based Compensation | STOCK-BASED COMPENSATION The Company accounts for stock incentive awards issued to employees and non-employees in accordance with FASB ASC 718, Stock Compensation. Accordingly, stock-based compensation is measured at the grant date, based on the fair value of the award. Stock-based awards to employees are recognized as an expense over the requisite service period, or upon the occurrence of certain vesting events. Additionally, stock-based awards to non-employees are expensed over the period in which the related services are rendered. |
Fair Value of Financial Instruments | FAIR VALUE OF FINANCIAL INSTRUMENTS ASC Topic 820 defines fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements. Included in the ASC Topic 820 framework is a three level valuation inputs hierarchy with Level 1 being inputs and transactions that can be effectively fully observed by market participants spanning to Level 3 where estimates are unobservable by market participants outside of the Company and must be estimated using assumptions developed by the Company. The Company discloses the lowest level input significant to each category of asset or liability valued within the scope of ASC Topic 820 and the valuation method as exchange, income or use. The Company uses inputs which are as observable as possible and the methods most applicable to the specific situation of each company or valued item. The Company’s financial instruments such as cash, accounts payable and accrued liabilities, non-redeemable convertible notes, notes payable and due to related parties are reported at cost, which approximates fair value due to the short-term nature of these financial instruments. Derivative liabilities are measured at fair value on a recurring basis using Level 3 inputs. The following table presents assets and liabilities that are measured and recognized at fair value as of December 31, 2020 on a recurring basis: 2020 Level 1 Level 2 Level 3 Description $ $ $ Derivative liabilities — — 172,261 2019 Level 1 Level 2 Level 3 Description $ $ $ Derivative liabilities — — 452,549 |
Recent Accounting Pronouncements | RECENT ACCOUNTING PRONOUNCEMENTS In August 2020, the FASB issued ASU 2020-06, Debt— Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40). Other recent accounting pronouncements issued by the FASB, including its Emerging Issues Task Force, the American Institute of Certified Public Accountants, and the Securities and Exchange Commission did not or are not believed by management to have a material impact on the Company's present or future consolidated financial statements. |
Summary Of Significant Accoun_3
Summary Of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure Summary Of Significant Accounting Policies Tables Abstract | |
Schedule of Fair Value of Assets and Liabilities Measured on Recurring Basis | The following table presents assets and liabilities that are measured and recognized at fair value as of December 31, 2020 on a recurring basis: 2020 Level 1 Level 2 Level 3 Description $ $ $ Derivative liabilities — — 172,261 2019 Level 1 Level 2 Level 3 Description $ $ $ Derivative liabilities — — 452,549 |
Convertible Promissory Note D_2
Convertible Promissory Note Derivative Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Fair Value of Convertible Promissory Note Derivative Liabilities | The inputs into the binomial models are as follows: March 1, 2019 December 31, 2019 January 20, 2020 February 3. 2020 April 14, 2020 July 13, 2020 September 11, 2020 December 31, 2020 Closing share price $ 0.07 $ 0.20 $ 0.18 $ 0.115 $ 0.0559 $ 0.0105 $ 0.0037 $ 0.0031 Conversion price $ 0.0364 $ 0.0683 $ 0.0488 $ 0.0587 $ 0.0338 $ 0.0068 $ 0.0024 $ 0.0019 Risk free rate 2.55 % 1.60 % 1.57 % 1.60 % 2.40 % 0.16 % 0.13 % 0.09% to 0.10% Expected volatility 403 % 294 % 351 % 434 % 330 % 294 % 270 % 228% to 284% Dividend yield 0 % 0 % 0 % 0 % 0 % 0 % 0 % 0 % Expected life 1.51 years 0.67 years 0.5 years 1.49 years 1.5 years 1.0 years 1.5 years 0.53 to 1.19 years |
Warrant Liability (Tables)
Warrant Liability (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Fair Value of Warrant Liability | The inputs into the binomial models are as follows: March 1, 2019 December 31, 2019 April 14, 2020 Closing share price $ 0.07 $ 0.20 $ 0.0559 Exercise price $ 0.20 $ 0.20 $ 0.20 Risk free rate 2.27 % 1.59 % 1.59 % Expected volatility 364 % 338 % 310 % Dividend yield 0 % 0 % 0 % Expected life 2.0 years 1.17 years 0.88 years |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure Income Taxes Tables Abstract | |
Schedule of Reconciliation of Provision for Income Tax Expenses (Recovery) | A reconciliation of the provision for income taxes at the United States federal statutory rate compared to the Company’s income tax expense as reported is as follows: 2020 2019 Net loss before income taxes per consolidated financial statements $ (7,666,062 ) $ (5,676,436 ) Income tax rate 21 % 21 % Income tax recovery (1,610,000 ) (1,192,100 ) Non-deductible share-based payments 1,062,100 566,600 Non-deductible interest 50,300 33,200 Loss on settlement of debt 431,200 293,600 Initial derivative expense 54,400 57,700 Change in fair value of derivative expense (82,000 ) 30,000 Valuation allowance change 94,000 211,000 Income tax expense (recovery) $ — $ — |
Schedule of Significant Component of Deferred Income Tax Assets | he significant component of deferred income tax assets on December 31, 2020 and 2019 is as follows: 2020 2019 Net operating loss carry-forward $ 893,000 $ 799,900 Valuation allowance (893,000 ) (799,900 ) Net deferred income tax asset $ — $ — |
Summary Of Significant Accoun_4
Summary Of Significant Accounting Policies (Details) - USD ($) | Dec. 31, 2020 | Dec. 31, 2019 |
Fair Value, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative liabilities | ||
Fair Value, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative liabilities | ||
Fair Value, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative liabilities | $ 172,261 | $ 452,549 |
Convertible Promissory Note D_3
Convertible Promissory Note Derivative Liabilities (Details) - Senior Convertible Note [Member] - Derivative Liabilities [Member] - $ / shares | Dec. 31, 2020 | Sep. 11, 2020 | Jul. 13, 2020 | Apr. 14, 2020 | Feb. 03, 2020 | Jan. 20, 2020 | Dec. 31, 2019 | Mar. 01, 2019 |
Closing share price | $ 0.0031 | $ 0.0037 | $ 0.0105 | $ 0.0559 | $ 0.115 | $ 0.18 | $ 0.20 | $ 0.07 |
Conversion price | $ 0.0019 | $ 0.0024 | $ 0.0068 | $ 0.0338 | $ 0.0587 | $ 0.0488 | $ 0.0683 | $ 0.0364 |
Risk free rate | 0.13% | 0.16% | 2.40% | 1.60% | 1.57% | 1.60% | 2.55% | |
Expected volatility | 270.00% | 294.00% | 330.00% | 434.00% | 351.00% | 294.00% | 403.00% | |
Dividend yield | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Expected life | 1 year 6 months | 1 year | 1 year 6 months | 1 year 5 months 26 days | 6 months | 8 months 1 day | 1 year 6 months 4 days | |
Minimum [Member] | ||||||||
Risk free rate | 0.09% | |||||||
Expected volatility | 228.00% | |||||||
Expected life | 6 months 11 days | |||||||
Maximum [Member] | ||||||||
Risk free rate | 0.10% | |||||||
Expected volatility | 284.00% | |||||||
Expected life | 1 year 2 months 8 days |
Warrant Liability (Details)
Warrant Liability (Details) - Warrants [Member] - Derivative Liabilities [Member] - $ / shares | Apr. 14, 2020 | Dec. 31, 2019 | Mar. 01, 2019 |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Closing share price | $ 0.0559 | $ 0.20 | $ 0.07 |
Exercise price | $ 0.20 | $ 0.20 | $ 0.20 |
Risk free rate | 1.59% | 1.59% | 2.27% |
Expected volatility | 310.00% | 338.00% | 364.00% |
Dividend yield | 0.00% | 0.00% | 0.00% |
Expected life | 10 months 17 days | 1 year 2 months 1 day | 2 years |
Income Taxes (Schedule Of Recon
Income Taxes (Schedule Of Reconciliation Of Provision For Income Tax Expenses (Recovery)) (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Income Taxes Schedule Of Reconciliation Of Provision For Income Tax Expenses Recovery | ||
Net loss before income taxes per consolidated financial statements | $ (7,666,062) | $ (5,676,436) |
Income tax rate | 21.00% | 21.00% |
Income tax recovery | $ (1,610,000) | $ (1,192,100) |
Non-deductible share-based payments | 1,062,100 | 566,600 |
Non-deductible interest | 50,300 | 33,200 |
Loss on settlement of debt | 431,200 | 293,600 |
Initial derivative expense | (54,400) | (57,700) |
Change in fair value of derivative expense | 82,000 | (30,000) |
Valuation allowance change | 94,000 | 211,000 |
Income tax expense (recovery) |
Income Taxes (Schedule Of Signi
Income Taxes (Schedule Of Significant Component Of Deferred Tax Assets) (Details) - USD ($) | Dec. 31, 2020 | Dec. 31, 2019 |
Income Taxes Schedule Of Significant Component Of Deferred Tax Assets | ||
Net operating loss carry-forward | $ 893,000 | $ 799,900 |
Valuation allowance | (893,000) | (799,900) |
Net deferred income tax asset |
Nature Of Operations And Basi_2
Nature Of Operations And Basis Of Presentation (Narrative) (Details) | Dec. 31, 2020 |
I8 Interactive Corporation [Member] | |
Percentage of interest held in subsidiaries | 100.00% |
Summary Of Significant Accoun_5
Summary Of Significant Accounting Policies (Narrative) (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Sales | $ 159,025 | |
Non-Redeemable Convertible Notes, Convertible Notes, Stock Payable And Warrants, Series A B and C [Member] | ||
Antidilutive securities excluded from computation of earnings per share | 8,379,046,549 | 7,016,249,249 |
Sale Of Groceries [Member] | ||
Sales | $ 42,593 | |
Sale Of Dry Goods [Member] | ||
Sales | 112,751 | |
Sale Of Computer Equipment [Member] | ||
Sales | $ 3,681 | |
Computer Equipment [Member] | ||
Estimated useful life of the asset | 3 years | |
Depreciation methodology | 50% declining balance |
Non-Redeemable Convertible No_2
Non-Redeemable Convertible Notes (Narrative) (Details) - USD ($) | Dec. 31, 2019 | Sep. 01, 2016 | Jun. 10, 2014 | Dec. 31, 2020 | Dec. 31, 2019 | Sep. 30, 2020 |
Debt Instrument [Line Items] | ||||||
Value of principal and interest portion of debt converted into shares | $ 41,360 | |||||
Gain (loss) on debt settlement | (2,053,055) | (1,398,085) | ||||
Common Stock [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Gain (loss) on debt settlement | 1,338,767 | |||||
Non-Redeemable Convertible Notes Issued To The Cellular Connection Ltd. [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Debt description | On June 10, 2014, the Company agreed to amend and add certain terms to unsecured, non-interest bearing, due on demand notes payable issued to The Cellular Connection Ltd. during the period from February 22, 2013 to June 10, 2014 with a total carrying value $42,189. | |||||
Debt carrying value | $ 1,878 | $ 42,189 | 1,878 | $ 0 | ||
Debt issue price | 42,189 | |||||
Debt face value | $ 1,878 | $ 54,193 | $ 1,878 | |||
Debt maturity date | Dec. 31, 2014 | |||||
Debt conversion price per share | $ 0.0001 | $ 0.0001 | $ 0.0001 | $ 0.0001 | ||
Debt instrument collateral | The Note allows for the lender to secure a portion of the Company assets up to 200% of the face value of the Note. | |||||
Debt payment terms | If the Note is not paid on the maturity date, the outstanding face amount of the Note shall increase by 20% on January 1, 2015. The outstanding face value of the Note shall increase by another 20% on January 1, 2016 and again on each one year anniversary of the Note until the Note has been paid in full. | |||||
Value of principal and interest portion of debt converted into shares | 2,252 | |||||
Gain (loss) on debt settlement | (890,986) | |||||
Interest expense | 376 | $ 2,378 | ||||
Unamortized discount | $ 0 | 0 | ||||
Non-Redeemable Convertible Notes [Member] | Side Letter Agreement With DC Design [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Debt description | On September 1, 2016, the Company entered into an amended Side Letter Agreement with DC Design to amend and add certain terms to the Side Letter Agreement and advances from the period from June 25, 2014 to December 24, 2014. | |||||
Debt carrying value | 27,508 | 33,010 | 27,508 | |||
Debt issue price | $ 174,252 | |||||
Debt face value | $ 27,508 | 33,010 | 27,508 | |||
Debt maturity date | Dec. 31, 2021 | Dec. 31, 2017 | ||||
Debt conversion price per share | $ 0.003 | |||||
Debt instrument collateral | The Note allows for the lender to secure a portion of the Company assets up to 200% of the face value of the note. | |||||
Debt payment terms | If the Note is not paid on the maturity date, the outstanding face amount of the Note shall increase by 20% on January 1, 2022. The outstanding face value of the Note shall increase by another 20% on January 1, 2023 and again on each one year anniversary of the Note until the Note has been paid in full. | |||||
Interest expense | 5,502 | 4,585 | ||||
Unamortized discount | $ 0 | $ 1,383 | $ 0 | |||
Interest rate | 20.00% | |||||
Non-Redeemable Convertible Notes [Member] | Common Stock [Member] | ||||||
Debt Instrument [Line Items] | ||||||
No of shares of common stock issued in conversion of debt | 22,524,864 | 337,600 | ||||
Gain (loss) on debt settlement | $ 1,907,875 | $ 59,378 | ||||
Non-Redeemable Convertible Notes Assigned To DC Design Inc. [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Debt description | On September 1, 2016, Doug Clark, former Chief Executive Officer and related party, assigned the Side Letter Agreement (“Note”) dated June 10, 2014 with a total carrying value $382,016 to DC Design Inc. (“DC Design”). | |||||
Notes assigned by Doug Clark | $ 382,016 |
Non-Redeemable Convertible No_3
Non-Redeemable Convertible Notes (Narrative) (Details1) - USD ($) | Dec. 31, 2019 | Sep. 30, 2019 | Sep. 13, 2018 | May 10, 2018 | Apr. 12, 2018 | Jan. 08, 2018 | Dec. 31, 2020 | Dec. 31, 2019 |
Debt Instrument [Line Items] | ||||||||
Value of principal and interest portion of debt converted into shares | $ 41,360 | |||||||
Gain (loss) on debt settlement | $ (2,053,055) | (1,398,085) | ||||||
Non-Redeemable Convertible Notes [Member] | Side Letter Agreement With The Cellular Connection Ltd. [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Debt description | On January 8, 2018, the Company entered into a Side Letter Agreement (“Note”) with The Cellular Connection Ltd., to amend and add certain terms to unsecured, non-interest bearing, due on demand notes payable totaling $14,930 issued by the Company during the period of June 2014 and December 2017. | |||||||
Debt carrying value | $ 21,499 | $ 14,930 | 21,499 | |||||
Debt issue price | 14,930 | |||||||
Debt face value | 21,499 | $ 17,916 | 21,499 | |||||
Debt maturity date | Dec. 31, 2021 | Dec. 31, 2018 | ||||||
Debt conversion price per share | $ 0.0001 | |||||||
Debt instrument collateral | The Note allows for the lender to secure a portion of the Company assets up to 200% of the face value of the Note. | |||||||
Debt payment terms | If the Note is not paid on the maturity date, the outstanding face amount of the Note shall increase by 20% on January 1, 2022. The outstanding face value of the Note shall increase by another 20% on January 1, 2023 and again on each one year anniversary of the Note until the Note has been paid in full. | |||||||
No of shares of common stock issued in conversion of debt | 257,990,370 | |||||||
Value of principal and interest portion of debt converted into shares | $ 25,799 | |||||||
Gain (loss) on debt settlement | (892,297) | |||||||
Interest expense | 4,300 | 3,583 | ||||||
Unamortized discount | 0 | 0 | ||||||
Non-Redeemable Convertible Notes [Member] | Side Letter Agreement With Stuart Turk [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Debt description | On January 8, 2018, the Company entered into a Side Letter Agreement (“Note”) with Stuart Turk, to amend and add certain terms to unsecured, non-interest bearing, due on demand notes payable totaling $244,065 issued by the Company during the period of July 2014 and December 2017. | |||||||
Debt carrying value | 351,454 | $ 244,065 | 420,344 | 351,454 | ||||
Debt issue price | 244,065 | |||||||
Debt face value | $ 351,454 | $ 292,878 | $ 420,344 | 351,454 | ||||
Debt maturity date | Dec. 31, 2021 | Dec. 31, 2018 | ||||||
Debt conversion price per share | $ 0.0001 | |||||||
Debt instrument collateral | The Note allows for the lender to secure a portion of the Company assets up to 200% of the face value of the Note. | |||||||
Debt payment terms | If the Note is not paid on the maturity date, the outstanding face amount of the Note shall increase by 20% on January 1, 2022. The outstanding face value of the Note shall increase by another 20% on January 1, 2023 and again on each one year anniversary of the Note until the Note has been paid in full. | |||||||
No of shares of common stock issued in conversion of debt | 14,000,000 | |||||||
Value of principal and interest portion of debt converted into shares | $ 1,400 | |||||||
Gain (loss) on debt settlement | (58,800) | |||||||
Interest expense | 70,291 | 58,576 | ||||||
Unamortized discount | $ 0 | 0 | 0 | |||||
Non-Redeemable Convertible Notes [Member] | Side Letter Agreement With Jordan Turk [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Debt description | On April 12, 2018, the Company entered into a Side Letter Agreement (“Note”) with Jordan Turk to amend and add certain terms to unsecured, non-interest bearing, due on demand notes payable totaling $45,000 issued by the Company during the period of March 19, 2018 to April 12, 2018. | |||||||
Debt carrying value | 64,200 | $ 45,000 | 75,040 | 64,200 | ||||
Debt issue price | 45,000 | |||||||
Debt face value | 64,200 | $ 54,000 | $ 75,040 | 64,200 | ||||
Debt maturity date | Dec. 31, 2018 | |||||||
Debt conversion price per share | $ 0.0001 | |||||||
Debt instrument collateral | he Note allows for the lender to secure a portion of the Company assets up to 200% of the face value of the Note. | |||||||
Debt payment terms | If the Note is not paid on the maturity date, the outstanding face amount of the Note shall increase by 20% on January 1, 2019. The outstanding face value of the Note shall increase by another 20% on January 1, 2020 and again on each one year anniversary of the Note until the Note has been paid in full. | |||||||
No of shares of common stock issued in conversion of debt | 20,000,000 | |||||||
Value of principal and interest portion of debt converted into shares | $ 2,000 | |||||||
Gain (loss) on debt settlement | (62,000) | |||||||
Interest expense | 12,840 | 10,800 | ||||||
Unamortized discount | 0 | 0 | 0 | |||||
Non-Redeemable Convertible Notes [Member] | Side Letter Agreement With Jordan Turk [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Debt description | On May 10, 2018, the Company entered into a Side Letter Agreement (“Note”) with Jordan Turk to amend and add certain terms to unsecured, non-interest bearing, due on demand notes payable totaling $35,000 issued by the Company on May 9, 2018. | |||||||
Debt carrying value | 50,400 | $ 35,000 | 60,480 | 50,400 | ||||
Debt issue price | 35,000 | |||||||
Debt face value | $ 50,400 | $ 42,000 | 60,480 | 50,400 | ||||
Debt maturity date | Dec. 31, 2021 | Dec. 31, 2018 | ||||||
Debt conversion price per share | $ 0.0001 | |||||||
Debt instrument collateral | The Note allows for the lender to secure a portion of the Company assets up to 200% of the face value of the Note. | |||||||
Debt payment terms | If the Note is not paid on the maturity date, the outstanding face amount of the Note shall increase by 20% on January 1, 2022. The outstanding face value of the Note shall increase by another 20% on January 1, 2023 and again on each one year anniversary of the Note until the Note has been paid in full. | |||||||
Interest expense | 10,080 | 8,400 | ||||||
Unamortized discount | $ 0 | 0 | 0 | |||||
Non-Redeemable Convertible Notes [Member] | Side Letter Agreement With Jordan Turk [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Debt description | On September 13, 2018, the Company entered into a Side Letter Agreement (“Note”) with Jordan Turk to amend and add certain terms to unsecured, non-interest bearing, due on demand notes payable totaling $40,000 issued by the Company during the period of July 10 to September 13, 2018. | |||||||
Debt carrying value | 57,600 | $ 40,000 | 69,120 | 57,600 | ||||
Debt issue price | 40,000 | |||||||
Debt face value | $ 57,600 | $ 48,000 | 69,120 | 57,600 | ||||
Debt maturity date | Dec. 31, 2021 | Dec. 31, 2018 | ||||||
Debt conversion price per share | $ 0.0001 | |||||||
Debt instrument collateral | The Note allows for the lender to secure a portion of the Company assets up to 200% of the face value of the Note. | |||||||
Debt payment terms | If the Note is not paid on the maturity date, the outstanding face amount of the Note shall increase by 20% on January 1, 2022. The outstanding face value of the Note shall increase by another 20% on January 1, 2023 and again on each one year anniversary of the Note until the Note has been paid in full. | |||||||
Interest expense | 11,520 | 9,600 | ||||||
Unamortized discount | $ 0 | $ 0 | $ 0 |
Non-Redeemable Convertible No_4
Non-Redeemable Convertible Notes (Narrative) (Details2) - Non-Redeemable Convertible Notes [Member] - USD ($) | Dec. 31, 2019 | Jan. 31, 2019 | Dec. 31, 2020 | Dec. 31, 2019 |
Side Letter Agreement With Stuart Turk [Member] | ||||
Debt Instrument [Line Items] | ||||
Debt description | On January 31, 2019, the Company entered into a Side Letter Agreement (“Note”) with Stuart Turk to amend and add certain terms to unsecured, non-interest bearing, due on demand notes payable totaling $106,968 issued by the Company during the period of January 3, 2018 to December 28, 2018. | |||
Debt carrying value | $ 128,362 | $ 106,968 | $ 154,034 | $ 128,362 |
Debt issue price | 106,968 | |||
Debt face value | $ 128,362 | $ 128,362 | 154,034 | 128,362 |
Debt maturity date | Dec. 31, 2021 | Dec. 31, 2019 | ||
Debt conversion price per share | $ 0.0001 | |||
Debt instrument collateral | The Note allows for the lender to secure a portion of the Company assets up to 200% of the face value of the Note. | |||
Debt payment terms | If the Note is not paid on the maturity date, the outstanding face amount of the Note shall increase by 20% on January 1, 2022. The outstanding face value of the Note shall increase by another 20% on January 1, 2023 and again on each one year anniversary of the Note until the Note has been paid in full. | |||
Interest expense | 25,672 | 21,394 | ||
Unamortized discount | $ 0 | 0 | 0 | |
Side Letter Agreement With The Cellular Connection Ltd. [Member] | ||||
Debt Instrument [Line Items] | ||||
Debt description | On January 31, 2019, the Company entered into a Side Letter Agreement (“Note”) with The Cellular Connection Ltd. to amend and add certain terms to unsecured, non-interest bearing, due on demand notes payable totaling $20,885 issued by the Company during the period of January 23, 2018 to October 16, 2018. | |||
Debt carrying value | 25,062 | $ 20,885 | 29,960 | 25,062 |
Debt issue price | 20,885 | |||
Debt face value | $ 25,062 | $ 25,062 | 29,960 | 25,062 |
Debt maturity date | Dec. 31, 2021 | Dec. 31, 2019 | ||
Debt conversion price per share | $ 0.0001 | |||
Debt instrument collateral | The Note allows for the lender to secure a portion of the Company assets up to 200% of the face value of the Note. | |||
Debt payment terms | If the Note is not paid on the maturity date, the outstanding face amount of the Note shall increase by 20% on January 1, 2022. The outstanding face value of the Note shall increase by another 20% on January 1, 2023 and again on each one year anniversary of the Note until the Note has been paid in full. | |||
Interest expense | 5,012 | 4,177 | ||
Unamortized discount | $ 0 | $ 0 | $ 0 |
Notes Payable (Narrative) (Deta
Notes Payable (Narrative) (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Short-term Debt [Line Items] | ||
Notes payable | $ 83,332 | $ 48,461 |
Proceeds from notes payable | 152,040 | 232,106 |
Notes Payable [Member] | ||
Short-term Debt [Line Items] | ||
Promissory note issued for expenses | 137,415 | 222,615 |
Proceeds from notes payable | 14,626 | 9,489 |
Issuance of Non-redeemable convertible notes | 117,170 | 107,380 |
Notes Payable [Member] | Stuart Turk, Jordan Turk And The Cellular Connection Limited, A Corporation Controlled By Stuart Turk [Member] | ||
Short-term Debt [Line Items] | ||
Notes payable | $ 83,332 | $ 48,461 |
Debt description | The balances are non-interest bearing, unsecured and have no specified terms of repayment. | The balances are non-interest bearing, unsecured and have no specified terms of repayment. |
Promissory Notes (Narrative) (D
Promissory Notes (Narrative) (Details) - USD ($) | Dec. 31, 2019 | Dec. 31, 2020 | Dec. 31, 2019 |
Debt Instrument [Line Items] | |||
Promissory notes - related party | $ 177,197 | $ 194,485 | $ 177,197 |
Nadav Elituv, Chief Executive Officer [Member] | |||
Debt Instrument [Line Items] | |||
Promissory notes description | The balance is non-interest bearing, unsecured and have no specified terms of repayment | The balance is non-interest bearing, unsecured and have no specified terms of repayment | |
Promissory Notes [Member] | |||
Debt Instrument [Line Items] | |||
Promissory notes with principal and interest | $ 85,796 | ||
Promissory notes - principle | 76,263 | 76,263 | $ 76,263 |
Promissory notes - interest | $ 1,907 | $ 9,533 | |
Promissory note interest rate | 10.00% | 10.00% | 10.00% |
Promissory notes description | Notes are unsecured | Notes are unsecured | |
Promissory notes maturity date | Dec. 31, 2021 | Dec. 31, 2021 | |
Promissory Notes [Member] | Nadav Elituv, Chief Executive Officer [Member] | |||
Debt Instrument [Line Items] | |||
Promissory notes with principal and interest | $ 177,197 | $ 194,485 | $ 177,197 |
Promissory notes - principle | $ 172,876 | 172,876 | 172,876 |
Promissory notes - interest | $ 21,609 | $ 4,321 | |
Promissory note interest rate | 10.00% | 10.00% | 10.00% |
Promissory notes maturity date | Dec. 31, 2021 | Dec. 31, 2021 | |
Promissory notes - related party | $ 172,876 | $ 172,876 |
Convertible Note (Narrative) (D
Convertible Note (Narrative) (Details) - USD ($) | Oct. 08, 2020 | Sep. 11, 2020 | Aug. 31, 2020 | Jul. 20, 2020 | Jul. 13, 2020 | Apr. 14, 2020 | Feb. 03, 2020 | Jan. 20, 2020 | Mar. 01, 2019 | Aug. 24, 2020 | Dec. 31, 2020 | Dec. 31, 2019 |
Short-term Debt [Line Items] | ||||||||||||
Proceeds from convertible notes | $ 290,000 | $ 175,000 | ||||||||||
Principal amount of notes converted in stock | 41,360 | |||||||||||
Amortization cost | 239,312 | 158,202 | ||||||||||
Gain/Loss on settlement of debt | (2,053,055) | (1,398,085) | ||||||||||
Common Stock [Member] | ||||||||||||
Short-term Debt [Line Items] | ||||||||||||
Gain/Loss on settlement of debt | 1,338,767 | |||||||||||
Securities Purchase Agreement With Firstfire Global Opportunities Fund, LLC [Member] | Senior Convertible Note [Member] | ||||||||||||
Short-term Debt [Line Items] | ||||||||||||
Debt face value | $ 200,000 | 94,232 | ||||||||||
Original issue discount | 20,000 | |||||||||||
Transaction costs | $ 5,000 | |||||||||||
Interest rate | 7.00% | |||||||||||
Debt maturity date | Sep. 1, 2020 | |||||||||||
Proceeds from convertible notes | $ 175,000 | |||||||||||
Debt conversion terms | The Note and accrued interest, at the option of the Holder, is convertible into common shares of the Company at $0.10 per share. After 180 days after the issue date, the Note together with any unpaid accrued interest is convertible into shares of common stock of the Company at the Holder’s option at the lessor of (i) $0.10 per share or (ii) a variable conversion price calculated at 65% of the market price defined as the lowest trading price during the ten trading day period ending on the latest trading day prior to the conversion date. | |||||||||||
Debt payment terms | The Company may prepay the Note in cash, if repaid within 90 days of date of issue, at 115% of the original principal amount plus interest, between 90 days and 120 days at 120% of the original principal amount plus interest and between 120 days and 180 days at 130% of the original principal amount plus interest. Thereafter, the Company does not have the right of prepayment. | |||||||||||
Debt carrying value | 19,752 | |||||||||||
Accrued interest | 10,284 | |||||||||||
Unamortized discount | $ 84,764 | |||||||||||
Securities Purchase Agreement With Firstfire Global Opportunities Fund, LLC [Member] | Senior Convertible Note [Member] | Common Stock [Member] | ||||||||||||
Short-term Debt [Line Items] | ||||||||||||
No of shares of common stock issued in conversion of debt | 2,695,000 | |||||||||||
Fair value of stock issued in conversion of debt | $ 208,285 | |||||||||||
Promissory notes to settle notes payable | 106,232 | |||||||||||
Principal amount of notes converted in stock | 94,232 | |||||||||||
Promissory notes - interest | 12,000 | |||||||||||
Amortization cost | 0 | 19,752 | ||||||||||
Settlement of derivative liabilities | 153,668 | |||||||||||
Gain/Loss on settlement of debt | (48,097) | |||||||||||
Securities Purchase Agreement With Power Up Lending Group Ltd [Member] | Senior Convertible Note [Member] | ||||||||||||
Short-term Debt [Line Items] | ||||||||||||
Debt face value | $ 103,000 | |||||||||||
Transaction costs | $ 3,000 | |||||||||||
Interest rate | 8.00% | |||||||||||
Debt maturity date | Jul. 31, 2021 | |||||||||||
Proceeds from convertible notes | $ 100,000 | |||||||||||
Debt conversion terms | After 180 days after the issue date, the Note together with any unpaid accrued interest is convertible into shares of common stock of the Company at the Holder’s option at a variable conversion price calculated at 65% of the market price defined as the lowest three average trading price during the ten trading day period ending on the latest trading day prior to the conversion date. | |||||||||||
Debt payment terms | The Company may prepay the Note in cash, if repaid within 90 days of date of issue, at 118% of the original principal amount plus interest, between 91 days and 120 days at 123% of the original principal amount plus interest, between 121 days and 180 days at 129% of the original principal amount plus interest and after 181 days 175% of the original principal amount plus interest. | |||||||||||
Unamortized discount | $ 0 | 0 | ||||||||||
Securities Purchase Agreement With Power Up Lending Group Ltd [Member] | Senior Convertible Note [Member] | Common Stock [Member] | ||||||||||||
Short-term Debt [Line Items] | ||||||||||||
No of shares of common stock issued in conversion of debt | 29,392,037 | |||||||||||
Fair value of stock issued in conversion of debt | $ 145,312 | |||||||||||
Promissory notes to settle notes payable | 107,120 | |||||||||||
Principal amount of notes converted in stock | 103,000 | |||||||||||
Promissory notes - interest | 4,120 | |||||||||||
Settlement of derivative liabilities | 131,380 | |||||||||||
Gain/Loss on settlement of debt | $ (490) | |||||||||||
Securities Purchase Agreement With Power Up Lending Group Ltd [Member] | Senior Convertible Note [Member] | ||||||||||||
Short-term Debt [Line Items] | ||||||||||||
Debt face value | $ 78,000 | $ 53,000 | $ 68,000 | |||||||||
Transaction costs | $ 3,000 | $ 3,000 | $ 3,000 | |||||||||
Interest rate | 8.00% | 8.00% | 8.00% | |||||||||
Debt maturity date | Mar. 11, 2022 | Jul. 13, 2021 | Oct. 14, 2021 | |||||||||
Proceeds from convertible notes | $ 75,000 | $ 50,000 | $ 65,000 | |||||||||
Debt conversion terms | After 180 days after the issue date, the Note together with any unpaid accrued interest is convertible into shares of common stock of the Company at the Holder’s option at a variable conversion price calculated at 65% of the market price defined as the lowest three average trading price during the ten trading day period ending on the latest trading day prior to the conversion date. | After 180 days after the issue date, the Note together with any unpaid accrued interest is convertible into shares of common stock of the Company at the Holder’s option at a variable conversion price calculated at 65% of the market price defined as the lowest three average trading price during the ten trading day period ending on the latest trading day prior to the conversion date | After 180 days after the issue date, the Note together with any unpaid accrued interest is convertible into shares of common stock of the Company at the Holder’s option at a variable conversion price calculated at 65% of the market price defined as the lowest three average trading price during the ten trading day period ending on the latest trading day prior to the conversion date. | |||||||||
Debt payment terms | The Company may prepay the Note in cash, if repaid within 90 days of date of issue, at 118% of the original principal amount plus interest, between 91 days and 120 days at 123% of the original principal amount plus interest, between 121 days and 180 days at 129% of the original principal amount plus interest and after 181 days 175% of the original principal amount plus interest. | The Company may prepay the Note in cash, if repaid within 90 days of date of issue, at 118% of the original principal amount plus interest, between 91 days and 120 days at 123% of the original principal amount plus interest, between 121 days and 180 days at 129% of the original principal amount plus interest and after 181 days 175% of the original principal amount plus interest. | The Company may prepay the Note in cash, if repaid within 90 days of date of issue, at 118% of the original principal amount plus interest, between 91 days and 120 days at 123% of the original principal amount plus interest, between 121 days and 180 days at 129% of the original principal amount plus interest and after 181 days 175% of the original principal amount plus interest. | |||||||||
No of shares of common stock issued in conversion of debt | 36,290,909 | |||||||||||
Fair value of stock issued in conversion of debt | $ 108,885 | |||||||||||
Promissory notes to settle notes payable | 70,720 | |||||||||||
Principal amount of notes converted in stock | 68,000 | |||||||||||
Promissory notes - interest | 2,720 | |||||||||||
Settlement of derivative liabilities | 90,117 | |||||||||||
Gain/Loss on settlement of debt | (9,486) | |||||||||||
Securities Purchase Agreement With Power Up Lending Group Ltd [Member] | Senior Convertible Note [Member] | ||||||||||||
Short-term Debt [Line Items] | ||||||||||||
Debt carrying value | 53,000 | |||||||||||
Accrued interest | 1,986 | |||||||||||
Amortization cost | 5,274 | |||||||||||
Unamortized discount | 49,712 | 0 | ||||||||||
Securities Purchase Agreement With Power Up Lending Group Ltd [Member] | Senior Convertible Note [Member] | ||||||||||||
Short-term Debt [Line Items] | ||||||||||||
Debt carrying value | 78,000 | |||||||||||
Accrued interest | 1,898 | |||||||||||
Amortization cost | 2,559 | |||||||||||
Unamortized discount | $ 77,339 | 0 | ||||||||||
Equity Purchase Agreement With Crown Bridge Partners, LLC [Member] | Senior Convertible Note [Member] | ||||||||||||
Short-term Debt [Line Items] | ||||||||||||
Debt face value | $ 36,720 | $ 25,000 | ||||||||||
Interest rate | 12.00% | 8.00% | ||||||||||
Debt maturity date | Jul. 20, 2020 | |||||||||||
Debt conversion terms | The Note and accrued interest, at the option of the Holder, is convertible into common shares of the Company at the Holder’s option at the lessor of (i) at a fixed conversion price of $0.20 per share or (ii) at a variable conversion price, while this Note is outstanding, at a the greatest discount to market price of the shares of common stock of the Company in effect for other promissory notes outstanding for the Company. | |||||||||||
Debt payment terms | The Note went into default for non-payment. Due to the default, in accordance with the original terms of the Note | The greatest discount to market price is calculated at 65% of the market price defined as the lowest trading price during the ten trading day period ending on the latest trading day prior to the conversion date. The Company may prepay the Note in cash within 90 days of date of issue, at 118% of the original principal amount plus interest. | ||||||||||
No of shares of common stock issued in conversion of debt | 12,253,846 | 10,400,000 | ||||||||||
Fair value of stock issued in conversion of debt | $ 49,015 | $ 41,600 | ||||||||||
Promissory notes to settle notes payable | 18,102 | 19,104 | ||||||||||
Principal amount of notes converted in stock | $ 10,724 | |||||||||||
Settlement of derivative liabilities | 31,829 | 26,332 | 10,822 | |||||||||
Gain/Loss on settlement of debt | $ 916 | $ 3,825 | $ (21,546) | |||||||||
Equity Purchase Agreement With Crown Bridge Partners, LLC [Member] | Senior Convertible Note [Member] | ||||||||||||
Short-term Debt [Line Items] | ||||||||||||
Unamortized discount | $ 0 | $ 0 |
Convertible Promissory Note D_4
Convertible Promissory Note Derivative Liabilities (Narrative) (Details) - USD ($) | Mar. 01, 2019 | Sep. 11, 2020 | Dec. 31, 2020 | Dec. 31, 2019 |
Initial derivative expense | $ (54,400) | $ (57,700) | ||
Change in fair value of derivative liabilities | 390,157 | (143,276) | ||
Securities Purchase Agreement With Crown Bridge Partners, LLC and Power Up Lending Group Ltd [Member] | Convertible Notes [Member] | Derivative Liabilities [Member] | ||||
Fair value of derivative liability | $ 380,919 | $ 573,863 | ||
Debt discount | 175,000 | 315,000 | ||
Initial derivative expense | $ 205,919 | $ 258,863 | ||
Change in fair value of derivative liabilities | 246,098 | 26,514 | ||
Settlement of derivative liabilities | 422,492 | 0 | ||
Promissory note derivative liabilities | $ 172,261 | $ 266,989 |
Warrant Liability (Narrative) (
Warrant Liability (Narrative) (Details) - USD ($) | Apr. 14, 2020 | Mar. 01, 2019 | Dec. 31, 2020 | Dec. 31, 2019 |
Change in fair value of derivative liabilities | $ 390,157 | $ (143,276) | ||
Common stock issued for compensation, value | 1,896,800 | 2,603,374 | ||
Warrants [Member] | ||||
Warrant liability | $ 68,798 | 0 | $ 185,560 | |
Warrants [Member] | Derivative Liabilities [Member] | ||||
Exercise price of warrants | $ 0.20 | $ 0.20 | $ 0.20 | |
Securities Purchase Agreement With Firstfire Global Opportunities Fund, LLC [Member] | Senior Convertible Note [Member] | ||||
Change in fair value of derivative liabilities | $ 2,000,000 | |||
Common stock issued for compensation, shares | 111,800 | |||
Common stock issued for compensation, value | $ 1,000,000 | |||
Issuance of warrant in conjuction | 70,299 | |||
Securities Purchase Agreement With Firstfire Global Opportunities Fund, LLC [Member] | Warrants [Member] | ||||
No of warrants issued | 1,000,000 | |||
Exercise price of warrants | $ 0.20 | |||
Term of warrants | 2 years | |||
Securities Purchase Agreement With Firstfire Global Opportunities Fund, LLC [Member] | Warrants [Member] | Derivative Liabilities [Member] | ||||
Change in fair value of derivative liabilities | $ 144,059 | $ 116,762 |
Related Party Transactions (Nar
Related Party Transactions (Narrative) (Details) - USD ($) | Aug. 07, 2020 | Dec. 20, 2019 | Nov. 01, 2019 | Sep. 10, 2019 | Sep. 10, 2018 | Dec. 31, 2020 | Dec. 31, 2019 |
Related Party Transaction [Line Items] | |||||||
Due to related party | $ 106,928 | $ 17,840 | |||||
Cash received from related party | 100,159 | 112,617 | |||||
Common stock issued | 1,939,444 | 1,351,699 | |||||
Stock based compensation - salaries | 2,921,900 | 2,643,374 | |||||
Nadav Elituv, Chief Executive Officer [Member] | |||||||
Related Party Transaction [Line Items] | |||||||
Due to related party | $ 106,928 | $ 17,840 | |||||
Debt instrument description | The balance is non-interest bearing, unsecured and have no specified terms of repayment | The balance is non-interest bearing, unsecured and have no specified terms of repayment | |||||
Advance to related party | $ 94,944 | $ 84,163 | |||||
Cash received from related party | 5,215 | 28,455 | |||||
Settlement of accrued compensation | 75,600 | ||||||
Settlement of account payable | 11,817 | ||||||
Repaid adavance from related party | 86,671 | 52,542 | |||||
Common stock issued | 9,448 | ||||||
Nadav Elituv, Chief Executive Officer [Member] | Employment Agreement Dated September 10, 2018 [Member] | |||||||
Related Party Transaction [Line Items] | |||||||
Employment agreement description | On September 10, 2018, the Company executed an employment agreement for the period from July 1, 2018 to June 30, 2019 with Nadav Elituv, the Chief Executive Officer of the Company whereby the Company shall pay 50,000 shares of Common Stock of the Company and an annual salary of $151,200 payable monthly on the first day of each month from available funds. | ||||||
Annual salary | $ 151,200 | ||||||
Nadav Elituv, Chief Executive Officer [Member] | Employment Agreement Dated September 10, 2019 [Member] | |||||||
Related Party Transaction [Line Items] | |||||||
Employment agreement description | On December 20, 2019, January 29, 2020, February 28, 2020, March 30, 2020 and April 30, 2020 the employment agreement was further amended to include additional stock-based compensation comprising of 873,609 shares, 1,000,000 shares, 1,000,000 shares, 2,500,000 shares and 2,000,000 shares of common stock of the Company, respectively. | On November 1, 2019, this employment agreement was amended to include additional stock-based compensation comprising of 30,000 shares of Series A Convertible Preferred Stock. | On September 10, 2019, the Company executed an employment agreement for the period from July 1, 2019 to June 30, 2020 with Nadav Elituv, the Chief Executive Officer of the Company whereby the Company shall pay 50,000 shares of Common Stock of the Company and an annual salary of $151,200 payable monthly on the first day of each month from available funds. | ||||
Annual salary | $ 151,200 | ||||||
Nadav Elituv, Chief Executive Officer [Member] | Employment Agreement Dated August 07, 2020 [Member] | |||||||
Related Party Transaction [Line Items] | |||||||
Employment agreement description | On August 7, 2020, the Company executed an employment agreement for the period from July 1, 2020 to June 30, 2021 with Nadav Elituv, the Chief Executive Officer of the Company whereby the Company shall pay 50,000,000 shares of Common Stock of the Company and an annual salary of $151,200 payable monthly on the first day of each month from available funds. | ||||||
Annual salary | $ 151,200 | ||||||
Nadav Elituv, Chief Executive Officer [Member] | Employment Agreements [Member] | |||||||
Related Party Transaction [Line Items] | |||||||
Stock based compensation - salaries | $ 491,450 | $ 1,762,557 |
Preferred Stock (Narrative) (De
Preferred Stock (Narrative) (Details) - USD ($) | Dec. 19, 2019 | Dec. 12, 2019 | Aug. 06, 2013 | Dec. 31, 2020 | Oct. 07, 2020 | Dec. 31, 2019 | Nov. 01, 2019 | Dec. 31, 2018 |
Preferred stock, shares authorized | 1,000,000 | 1,000,000 | ||||||
Preferred stock, value | $ (2,783,920) | $ (1,369,099) | $ (310,422) | |||||
Series A Convertible Preferred Stock [Member] | ||||||||
Preferred stock, shares authorized | 200,000 | |||||||
Preferred stock, convertible terms | Each share of Series A Stock is convertible into one thousand (1,000) shares of common stock of the Company | |||||||
Preferred stock, voting rights | Each share of Series A Stock is entitled to the number of votes equal to the aggregate number of shares of common stock into which the Holder’s share of Series A Stock is convertible, multiplied by one hundred (100). | |||||||
Series A Convertible Preferred Stock [Member] | Nadav Elituv, Chief Executive Officer [Member] | ||||||||
Preferred stock, shares authorized | 30,000 | |||||||
Preferred stock, value | $ 33,000 | |||||||
Stock price par value | $ 1.10 | |||||||
Series B Convertible Preferred Stock [Member] | ||||||||
Preferred stock, shares authorized | 4,000 | 100,000 | ||||||
Preferred stock, convertible terms | Each share of Series B Stock is convertible into one thousand (1,000) shares of common stock of the Company. | |||||||
Preferred stock, voting rights | Series B Stock is non-voting | |||||||
Preferred stock, value | $ 1,520,000 | |||||||
Preferred stock description | Series B Convertible Preferred Stock at $1,520,000 ($380 per share) for services to be provided from December 19, 2019 to December 19, 2020. | |||||||
Stock price par value | $ 380 | |||||||
Series C Convertible Preferred Stock [Member] | ||||||||
Preferred stock, shares authorized | 5,000 | |||||||
Preferred stock, value | $ 542,857 | |||||||
Stock price par value | $ 108.57 |
Stockholders' Equity (Narrative
Stockholders' Equity (Narrative) (Details) - USD ($) | May 07, 2020 | Feb. 12, 2020 | Dec. 20, 2019 | Nov. 05, 2019 | Sep. 20, 2019 | Sep. 19, 2019 | Sep. 10, 2019 | Jun. 11, 2019 | Apr. 05, 2019 | Dec. 31, 2020 | Dec. 31, 2019 |
Principal amount of notes converted in stock | $ 41,360 | ||||||||||
Loss on settlement of debt | (2,053,055) | (1,398,085) | |||||||||
Common stock issued for services, value | 1,025,100 | 7,000 | |||||||||
Common stock issued for compensation, value | $ 1,896,800 | 2,603,374 | |||||||||
Stock Option Plan - February 12, 2020 | |||||||||||
Description of stock option plan | On February 12, 2020, the Board of Directors approved the 2020 Stock Incentive Plan (the “2020 Plan”) to attract and retain the best available personnel, to provide additional incentive to employees, directors and consultants, and to promote the success of the Company's business. Pursuant to the 2020 Plan, the Board may grant incentive stock options, non-qualified stock options, stock appreciation rights, restricted shares and restricted share units. to eligible persons. The maximum aggregate number of shares of common stock with respect to which awards granted under the Plan shall not exceed 50,000,000. On December 31, 2020, there are 10,500,000 shares of common stock available in the 2020 Plan. | ||||||||||
Common Stock [Member] | |||||||||||
Reverse stock split | 1 for 1,000 | ||||||||||
Loss on settlement of debt | $ 1,338,767 | ||||||||||
Common stock issued for services, shares | 97,500,000 | 200 | |||||||||
Common stock issued for services, value | $ 9,750 | ||||||||||
Common stock issued for compensation, shares | 154,000,000 | 3,938,055 | |||||||||
Common stock issued for compensation, value | $ 15,400 | $ 394 | |||||||||
Common stock issued for subscription, share | 11,111,111 | 2,230 | |||||||||
Obligation to issue shares of common stock | 2,000,000 | ||||||||||
Principal amount of notes converted in stock | $ 12,933 | ||||||||||
Common Stock [Member] | Consulting Services [Member] | |||||||||||
Common stock issued for services, shares | 100 | ||||||||||
Common stock issued for services, value | $ 7,000 | ||||||||||
Share price, per share | $ 70 | ||||||||||
Common Stock [Member] | Senior Convertible Note [Member] | |||||||||||
Principal amount of notes converted in stock | $ 302,438 | ||||||||||
Interest on notes | $ 18,840 | ||||||||||
Debt converted into common stock, shares | 91,031,792 | ||||||||||
Fair value of stock issued in conversion of debt | $ 553,097 | ||||||||||
Loss on settlement of debt | $ 53,332 | ||||||||||
Common Stock [Member] | Settlement Of Stock Payable [Member] | |||||||||||
Share price, per share | $ 5.40 | ||||||||||
Common stock issued for compensation, shares | 5,910 | ||||||||||
Common stock issued for compensation, value | $ 31,912 | ||||||||||
Common Stock [Member] | Settlement Of Stock Payable [Member] | Officer And Directors [Member] | |||||||||||
Common stock issued for compensation, shares | 154,000,000 | ||||||||||
Common stock issued for compensation, value | $ 1,896,900 | ||||||||||
Common Stock [Member] | Settlement Of Stock Payable [Member] | Nadav Elituv, Chief Executive Officer [Member] | |||||||||||
Common stock issued for services, shares | 30,000 | ||||||||||
Common stock issued for services, value | $ 903,000 | ||||||||||
Share price, per share | $ 30.10 | ||||||||||
Common Stock [Member] | Settlement Of Stock Payable [Member] | Consulting Services [Member] | |||||||||||
Common stock issued for services, shares | 100 | 32,000,001 | |||||||||
Common stock issued for services, value | $ 8,000 | $ 525,000 | |||||||||
Share price, per share | $ 80 | ||||||||||
Obligation to issue shares of common stock | 17,999,999 | ||||||||||
Common Stock [Member] | Settlement Of Stock Payable [Member] | Consultant [Member] | |||||||||||
Common stock issued for services, shares | 97,500,000 | ||||||||||
Common stock issued for services, value | $ 1,025,100 | ||||||||||
Common Stock [Member] | Stock Based Compensation [Member] | Employment Agreements [Member] | |||||||||||
Share price, per share | $ 6.20 | ||||||||||
Common stock issued for compensation, shares | 24,387 | ||||||||||
Common stock issued for compensation, value | $ 151,200 | ||||||||||
Common stock issued for settle advances payable, share | 1,524 | ||||||||||
Common stock issued for settle advances payable, value | $ 9,448 | ||||||||||
Common Stock [Member] | Stock Based Compensation [Member] | Nadav Elituv, Chief Executive Officer [Member] | |||||||||||
Share price, per share | $ 0.2925 | $ 15.30 | |||||||||
Common stock issued for compensation, shares | 873,609 | 50,000 | |||||||||
Common stock issued for compensation, value | $ 255,531 | $ 765,000 | |||||||||
Common Stock [Member] | Stock Based Compensation [Member] | A Directors Of The Company [Member] | |||||||||||
Share price, per share | $ 0.2925 | ||||||||||
Common stock issued for compensation, shares | 2,960,059 | ||||||||||
Common stock issued for compensation, value | $ 865,817 | ||||||||||
Common Stock [Member] | Non-Redeemable Convertible Notes [Member] | |||||||||||
Debt converted into common stock, shares | 22,524,864 | 337,600 | |||||||||
Fair value of stock issued in conversion of debt | $ 208,551 | ||||||||||
Loss on settlement of debt | $ 1,907,875 | 59,378 | |||||||||
Principal amount of notes converted in stock | $ 31,569 | 105,768 | |||||||||
Debt discount portion of debt converted into stock | 97,038 | ||||||||||
Settlement of derivative liabilities | $ 140,444 | ||||||||||
Common Stock [Member] | Stock Based Compensation [Member] | |||||||||||
Obligation to issue shares of common stock | 32,000,001 |
Subsequent Events (Narrative) (
Subsequent Events (Narrative) (Details) - USD ($) | Feb. 23, 2021 | Jan. 20, 2021 | Mar. 26, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Subsequent Event [Line Items] | |||||
Principal amount of notes converted in stock | $ 41,360 | ||||
Loss on settlement of debt | (2,053,055) | (1,398,085) | |||
Common stock issued for compensation, value | 1,896,800 | 2,603,374 | |||
Proceeds from convertible notes | $ 290,000 | 175,000 | |||
Common Stock [Member] | |||||
Subsequent Event [Line Items] | |||||
Loss on settlement of debt | $ 1,338,767 | ||||
Common stock issued for compensation, shares | 154,000,000 | 3,938,055 | |||
Common stock issued for compensation, value | $ 15,400 | $ 394 | |||
Non-Redeemable Convertible Notes [Member] | Common Stock [Member] | |||||
Subsequent Event [Line Items] | |||||
Fair value of stock issued in conversion of debt | $ 208,551 | ||||
Debt converted into common stock, shares | 22,524,864 | 337,600 | |||
Loss on settlement of debt | $ 1,907,875 | $ 59,378 | |||
Subsequent Event [Member] | Common Stock [Member] | Officer And Directors [Member] | |||||
Subsequent Event [Line Items] | |||||
Common stock issued for compensation, shares | 2,500,000 | ||||
Common stock issued for compensation, value | $ 16,000 | ||||
Subsequent Event [Member] | Common Stock [Member] | Consulting Services [Member] | |||||
Subsequent Event [Line Items] | |||||
Common stock issued for compensation, shares | 30,000,000 | ||||
Common stock issued for compensation, value | $ 270,000 | ||||
Subsequent Event [Member] | Non-Redeemable Convertible Notes [Member] | Side Letter Convertible Promissory Note [Member] | |||||
Subsequent Event [Line Items] | |||||
Fair value of stock issued in conversion of debt | $ 23,735 | ||||
Debt converted into common stock, shares | 8,823,529 | ||||
Debt description | On January 20, 2021, the Company issued a Side Letter Convertible Promissory Note (“Note”) for $15,823 in cash. The issue price of the Note is $15,823 with a face value of $23,735 and the Note is due on demand. At the option of the Company, the Company may convert principal and interest at a fixed conversion price of $0.0034 per share of the Company’s common stock. | ||||
Debt carrying value | $ 15,823 | ||||
Debt issue price | 15,823 | ||||
Debt face value | $ 23,735 | ||||
Debt conversion price per share | $ 0.0034 | ||||
Subsequent Event [Member] | Non-Redeemable Convertible Notes [Member] | Common Stock [Member] | |||||
Subsequent Event [Line Items] | |||||
Principal amount of notes converted in stock | 44,350 | ||||
Fair value of stock issued in conversion of debt | $ 1,938,150 | ||||
Debt converted into common stock, shares | 443,500,000 | ||||
Loss on settlement of debt | $ 1,893,800 | ||||
Subsequent Event [Member] | Senior Convertible Note [Member] | Common Stock [Member] | |||||
Subsequent Event [Line Items] | |||||
Principal amount of notes converted in stock | 131,000 | ||||
Fair value of stock issued in conversion of debt | $ 218,127 | ||||
Debt converted into common stock, shares | 63,672,223 | ||||
Interest on notes | $ 5,240 | ||||
Subsequent Event [Member] | Convertible Note [Member] | Securities Purchase Agreement With Redstart Holdings Corp [Member] | |||||
Subsequent Event [Line Items] | |||||
Debt face value | $ 153,000 | ||||
Transaction costs | $ 3,000 | ||||
Interest rate | 8.00% | ||||
Debt maturity date | Aug. 23, 2022 | ||||
Proceeds from convertible notes | $ 150,000 | ||||
Debt conversion terms | After 180 days after the issue date, the Note together with any unpaid accrued interest is convertible into shares of common stock of the Company at the Holder’s option at a variable conversion price calculated at 65% of the market price defined as the lowest three average trading price during the ten trading day period ending on the latest trading day prior to the conversion date | ||||
Debt payment terms | The Company may prepay the Note in cash, if repaid within 90 days of date of issue, at 118% of the original principal amount plus interest, between 91 days and 120 days at 123% of the original principal amount plus interest, between 121 days and 180 days at 129% of the original principal amount plus interest and after 181 days 175% of the original principal amount plus interest. |