Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Sep. 30, 2019 | Dec. 30, 2019 | Mar. 31, 2019 | |
Document Information Line Items | |||
Entity Registrant Name | AngioSoma, Inc. | ||
Trading Symbol | N/A | ||
Document Type | 10-K | ||
Current Fiscal Year End Date | --09-30 | ||
Entity Common Stock, Shares Outstanding | 210,301,032 | ||
Entity Public Float | $ 677,935 | ||
Amendment Flag | false | ||
Entity Central Index Key | 0001502152 | ||
Entity Current Reporting Status | Yes | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Well-known Seasoned Issuer | No | ||
Document Period End Date | Sep. 30, 2019 | ||
Document Fiscal Year Focus | 2019 | ||
Document Fiscal Period Focus | FY | ||
Entity Small Business | true | ||
Entity Emerging Growth Company | false | ||
Entity Shell Company | false | ||
Entity Ex Transition Period | false | ||
Entity Interactive Data Current | Yes | ||
Title of 12(b) Security | Common Stock, $0.001 par value |
CONSOLIDATED BALANCE SHEET
CONSOLIDATED BALANCE SHEET - USD ($) | Sep. 30, 2019 | Sep. 30, 2018 |
CURRENT ASSETS | ||
Cash and cash equivalents | $ 100,459 | $ 91,597 |
Prepaid expenses | 787 | 0 |
Other current assets | 0 | 16,395 |
Inventory | 40,115 | 3,815 |
Total current assets | 141,361 | 111,807 |
Available for sale securities, at market value | 0 | 11,644 |
Intellectual property, net of impairment of $2,990,535 | 0 | 0 |
Fixed assets, net | 822 | 1,294 |
TOTAL ASSETS | 142,183 | 124,745 |
Current Liabilities | ||
Accounts payable and accrued liabilities | 135,067 | 136,867 |
Accounts payable to related party | 291,372 | 281,372 |
Advances payable | 59,650 | 59,650 |
Current portion of convertible notes payable, net of discount of $52,205 and $8,720, respectively | 113,795 | 185,280 |
Note payable, default | 0 | 100,000 |
Current portion of accrued interest payable | 227,734 | 232,307 |
Total current liabilities | 827,618 | 995,476 |
Accrued interest payable | 0 | 0 |
TOTAL LIABILITIES | 827,618 | 995,476 |
COMMITMENTS AND CONTINGENCIES | ||
STOCKHOLDERS' DEFICIT | ||
Common stock, $0.001 par value; 480,000,000 shares authorized; 170,467,283 and 69,323,021 shares issued and outstanding at September 30, 2019 and 2018, respectively | 170,468 | 69,323 |
Additional paid-in capital | 1,225,272 | 2,065,018 |
Accumulated other comprehensive income | 971 | |
Accumulated deficit | (6,673,607) | (5,998,535) |
TOTAL STOCKHOLDERS' DEFICIT | (685,435) | (870,731) |
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT | 142,183 | 124,745 |
Series A Preferred Stock [Member] | ||
STOCKHOLDERS' DEFICIT | ||
Preferred Stock | 4,590,535 | 2,990,535 |
Series D Preferred Stock [Member] | ||
STOCKHOLDERS' DEFICIT | ||
Preferred Stock | 510 | 510 |
Series E Preferred Stock [Member] | ||
STOCKHOLDERS' DEFICIT | ||
Preferred Stock | 1,000 | 1,000 |
Series F Preferred Stock [Member] | ||
STOCKHOLDERS' DEFICIT | ||
Preferred Stock | $ 387 | $ 447 |
CONSOLIDATED BALANCE SHEET (Par
CONSOLIDATED BALANCE SHEET (Parentheticals) - USD ($) | Sep. 30, 2019 | Sep. 30, 2018 |
Intellectual property, impairment (in Dollars) | $ 2,990,535 | |
Current portion of convertible notes payable, discount (in Dollars) | $ 52,205 | $ 8,720 |
Common stock, par value (in Dollars per share) | $ 0.001 | $ 0.001 |
Common stock, shares authorized | 480,000,000 | 480,000,000 |
Common stock, shares issued | 170,467,283 | 69,323,021 |
Common stock, shares outstanding | 170,467,283 | 69,323,021 |
Preferred Stock, par value (in Dollars per share) | $ 0.001 | |
Series A Preferred Stock [Member] | ||
Preferred Stock, shares issued | 5,800,000 | 5,000,000 |
Preferred Stock, shares outstanding | 5,800,000 | 5,000,000 |
Series D Preferred Stock [Member] | ||
Preferred Stock, shares issued | 509,988 | 509,988 |
Preferred Stock, shares outstanding | 509,988 | 509,988 |
Preferred Stock, par value (in Dollars per share) | $ 0.001 | $ 0.001 |
Series E Preferred Stock [Member] | ||
Preferred Stock, shares issued | 1,000,000 | 1,000,000 |
Preferred Stock, shares outstanding | 1,000,000 | 1,000,000 |
Preferred Stock, par value (in Dollars per share) | $ 0.001 | $ 0.001 |
Series F Preferred Stock [Member] | ||
Preferred Stock, shares issued | 386,975 | 446,975 |
Preferred Stock, shares outstanding | 386,975 | 446,975 |
Preferred Stock, par value (in Dollars per share) | $ 0.001 | $ 0.001 |
CONSOLIDATED STATEMENT OF OPERA
CONSOLIDATED STATEMENT OF OPERATIONS - USD ($) | 12 Months Ended | |
Sep. 30, 2019 | Sep. 30, 2018 | |
REVENUE | $ 425 | $ 890 |
Cost of goods sold | 154 | 207 |
271 | 683 | |
OPERATING EXPENSES | ||
General and administrative expenses | 316,141 | 351,735 |
Total operating expenses | 316,141 | 351,735 |
LOSS FROM OPERATIONS | (315,870) | (351,052) |
OTHER INCOME (EXPENSE) | ||
Other income | 0 | 5,531 |
Gain on forgiveness of debt | 110,834 | 0 |
Loss on conversion of preferred stock | 0 | (7,250) |
Loss on conversion of debt | (99,000) | (360,480) |
Loss on marketable securities | (10,673) | 0 |
Interest expense | (360,363) | (103,490) |
Net Loss | (675,072) | (816,741) |
Preferred Stock Dividend | (1,600,000) | 0 |
Net loss available to common shareholders | $ (2,275,072) | $ (816,741) |
Net loss per share available to common shareholders – basic and diluted (in Dollars per share) | $ (0.01) | $ (0.01) |
Weighted average shares outstanding - basic and diluted (in Shares) | 104,775,749 | 56,513,762 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) | 12 Months Ended | |
Sep. 30, 2019 | Sep. 30, 2018 | |
NET LOSS | $ (675,072) | $ (816,741) |
Change in fair value of AFS securities | (971) | 1,941 |
COMPREHENSIVE LOSS | $ (676,043) | $ (814,800) |
CONSOLIDATED STATEMENT OF CHANG
CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS’ EQUITY - USD ($) | Common Stock [Member]Series B Preferred Stock [Member] | Common Stock [Member]Conversion on Convertible Note Payable [Member] | Common Stock [Member] | Preferred Stock [Member]Series A Preferred Stock [Member] | Preferred Stock [Member]Series B Preferred Stock [Member]Series B Preferred Stock [Member] | Preferred Stock [Member]Series B Preferred Stock [Member] | Preferred Stock [Member]Series D Preferred Stock [Member] | Preferred Stock [Member]Series E Preferred Stock [Member] | Preferred Stock [Member]Series F Preferred Stock [Member] | Additional Paid-in Capital [Member]Series B Preferred Stock [Member] | Additional Paid-in Capital [Member]Conversion on Convertible Note Payable [Member] | Additional Paid-in Capital [Member] | AOCI Attributable to Parent [Member] | Retained Earnings [Member] | Series B Preferred Stock [Member] | Series D Preferred Stock [Member] | Series B Preferred Stock [Member] | Conversion on Convertible Note Payable [Member] | Total |
BALANCE at Sep. 30, 2017 | $ 45,584 | $ 2,990,535 | $ 30 | $ 510 | $ 1,000 | $ 472 | $ 1,520,658 | $ (970) | $ (5,181,794) | $ (623,975) | |||||||||
BALANCE (in Shares) at Sep. 30, 2017 | 45,584,067 | 5,000,000 | 30,000 | 509,988 | 1,000,000 | 471,975 | |||||||||||||
Common stock issued for conversion of Preferred Stock | $ 500 | $ 2,500 | $ (30) | $ (25) | $ 6,780 | (2,475) | $ 7,250 | ||||||||||||
Common stock issued for conversion of Preferred Stock (in Shares) | 500,000 | 2,500,000 | (30,000) | (25,000) | |||||||||||||||
Discount on convertible note payable | 91,133 | 91,133 | |||||||||||||||||
Dividend on Preferred A | 0 | ||||||||||||||||||
Loss on conversion of debt | 360,480 | $ 7,250 | 360,480 | ||||||||||||||||
Other comprehensive loss | 1,941 | 1,941 | |||||||||||||||||
Net loss | (816,741) | (816,741) | |||||||||||||||||
Common stock issued for conversion of convertible notes | $ 20,739 | 88,442 | 109,181 | ||||||||||||||||
Common stock issued for conversion of convertible notes (in Shares) | 20,738,954 | ||||||||||||||||||
BALANCE at Sep. 30, 2018 | $ 69,323 | $ 2,990,535 | $ 510 | $ 1,000 | $ 447 | 2,065,018 | 971 | (5,998,535) | (870,731) | ||||||||||
BALANCE (in Shares) at Sep. 30, 2018 | 69,323,021 | 5,000,000 | 509,988 | 1,000,000 | 446,975 | ||||||||||||||
Common stock issued for conversion of Preferred Stock | $ 99,000 | ||||||||||||||||||
Common stock issued for conversion of Preferred Stock (in Shares) | 3,300,001 | ||||||||||||||||||
Discount on convertible note payable | 354,326 | $ 354,326 | |||||||||||||||||
Cancellation of Series F | $ (60) | 60 | |||||||||||||||||
Cancellation of Series F (in Shares) | (60,000) | 60,000 | |||||||||||||||||
Dividend on Preferred A | $ 1,600,000 | (1,600,000) | 1,600,000 | ||||||||||||||||
Dividend on Preferred A (in Shares) | 800,000 | ||||||||||||||||||
Other comprehensive loss | $ (971) | (971) | |||||||||||||||||
Net loss | (675,072) | (675,072) | |||||||||||||||||
Common stock issued for conversion of convertible notes | $ 97,645 | $ 341,118 | $ 438,763 | ||||||||||||||||
Common stock issued for conversion of convertible notes (in Shares) | 97,644,262 | ||||||||||||||||||
Common stock issued to officer as compensation | $ 3,500 | 64,750 | 68,250 | ||||||||||||||||
Common stock issued to officer as compensation (in Shares) | 3,500,000 | ||||||||||||||||||
BALANCE at Sep. 30, 2019 | $ 170,468 | $ 4,590,535 | $ 510 | $ 1,000 | $ 387 | $ 1,225,272 | $ (6,673,607) | $ (685,435) | |||||||||||
BALANCE (in Shares) at Sep. 30, 2019 | 170,467,283 | 5,800,000 | 509,988 | 1,000,000 | 386,975 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) | 12 Months Ended | |
Sep. 30, 2019 | Sep. 30, 2018 | |
CASH FLOW FROM OPERATING ACTIVITIES: | ||
Net loss | $ (675,072) | $ (816,741) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Stock compensation | 68,250 | 0 |
Depreciation | 472 | 118 |
Amortization of discount on convertible note payable | 334,842 | 83,597 |
Gain on forgiveness of debt | (110,834) | 0 |
Loss on conversion of convertible notes payable | 99,000 | 360,480 |
Loss on marketable securities | 10,673 | 0 |
Loss on conversion of preferred stock | 0 | 7,250 |
Changes in operating assets and liabilities | ||
Prepaid expenses | (787) | 750 |
Deposits on inventory | 16,395 | (16,395) |
Inventory | (36,300) | (3,815) |
Accounts payable and accrued liabilities | (1,471) | 44,768 |
Accounts payable and accrued liabilities to related party | 10,000 | 143,313 |
Accrued interest payable | 24,694 | 16,584 |
NET CASH (USED IN) OPERATING ACTIVITIES | (260,138) | (180,091) |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Cash used to acquire fixed assets | 0 | (1,412) |
NET CASH (USED IN) INVESTING ACTIVITIES | 0 | (1,412) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Proceeds from convertible notes payable | 269,000 | 259,000 |
NET CASH PROVIDED BY FINANCING ACTIVITIES | 269,000 | 259,000 |
NET INCREASE IN CASH | 8,862 | 77,497 |
Cash at beginning of period | 91,597 | 14,100 |
Cash at end of period | 100,459 | 91,597 |
Cash paid during the period for: | ||
Interest | 0 | 0 |
Taxes | 0 | 0 |
Noncash investing and financing transactions: | ||
Common stock issued for conversion of convertible note payable | 340,260 | 109,180 |
Preferred stock returned for cancellation | 60 | 0 |
Common stock issued for conversion of Series B Preferred stock | 0 | 3,000 |
Change in fair value of available-for-sale securities | (971) | 1,941 |
Beneficial conversion discount on convertible note payable | 354,326 | 91,133 |
Dividend on Series A Preferred Stock | $ 1,600,000 | $ 0 |
General Organization and Busine
General Organization and Business | 12 Months Ended |
Sep. 30, 2019 | |
Disclosure Text Block [Abstract] | |
Nature of Operations [Text Block] | Note 1. General Organization and Business AngioSoma is a wellness company dedicated to bringing innovative, effective and high-quality supplement products to the medical, wellness and adult-use markets through our marketing subsidiary, SomaCeuticals TM We have abandoned our pursuit of FDA clearance and marketing of any drugs or products, including Liprostin TM The Company was incorporated on April 29, 2016. The Company’s year-end is September 30. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Sep. 30, 2019 | |
Accounting Policies [Abstract] | |
Significant Accounting Policies [Text Block] | Note 2. Summary of Significant Accounting Policies Basis of Presentation The consolidated financial statements of the Company include the accounts of the Company and its wholly owned subsidiaries, SomaCeuticals, Inc., First Titan Energy, LLC and First Titan Technical, LLC from the date of their formations or acquisition. Significant intercompany transactions have been eliminated in consolidation. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. Fair Value of Financial Instruments The Company’s balance sheet includes certain financial instruments. The carrying amounts of current assets and current liabilities approximate their fair value because of the relatively short period between the origination of these instruments and their expected realization. FASB Accounting Standards Codification (ASC) 820 Fair Value Measurements and Disclosures Level 1 - Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. Level 2 - Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly, including quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; inputs other than quoted prices that are observable for the asset or liability (e.g., interest rates); and inputs that are derived principally from or corroborated by observable market data by correlation or other means. Level 3 - Inputs that are both significant to the fair value measurement and unobservable. Fair value estimates discussed herein are based upon certain market assumptions and pertinent information available to management as of September 30, 2019. The respective carrying value of certain on-balance-sheet financial instruments approximated their fair values due to the short-term nature of these instruments. These financial instruments include accounts payable and accrued expenses. The following table presents assets that were measured and recognized at fair value as of September 30, 2019 and the period then ended on a recurring and nonrecurring basis: Description Level 1 Level 2 Level 3 Total Available for sale securities $ — $ — $ — $ — Totals $ — $ — $ — $ — The following table presents assets that were measured and recognized at fair value as of September 30, 2018 and the period then ended on a recurring and nonrecurring basis: Description Level 1 Level 2 Level 3 Total Available for sale securities $ 11,644 $ — $ — $ 11,644 Totals $ 11,644 $ — $ — $ 11,644 Revenue Recognition The Company recognizes revenue from product sales upon product delivery. All of our products are shipped through a third-party fulfillment center to the customer and the customer takes title to product and assumes risk and ownership of the product when it is delivered. Shipping charges to customers and sales taxes collectible from customers, if any, are included in revenues. Effective June 1, 2018, the Company adopted ASC 606 — Revenue from Contracts with Customers. Under ASC 606, the Company recognizes revenue from the commercial sales of products, licensing agreements and contracts to perform pilot studies by applying the following steps: (1) identifying the contract with a customer; (2) identifying the performance obligations in the contract; (3) determining the transaction price; (4) allocating the transaction price to each performance obligation in the contract; and (5) recognizing revenue when each performance obligation is satisfied. For the comparative periods, revenue has not been adjusted and continues to be reported under ASC 605 — Revenue Recognition. Under ASC 605, revenue is recognized when the following criteria are met: (1) persuasive evidence of an arrangement exists; (2) the performance of the service has been rendered to a customer or delivery has occurred; (3) the amount of fee to be paid by a customer is fixed and determinable; and (4) the collectability of the fee is reasonably assured. There was no impact on the Company’s financial statements as a result of adopting Topic 606 for the year ended September 30, 2019. Cash and Cash Equivalents All cash is maintained with a major financial institution in the United States. Deposits with this bank may occasionally exceed the amount of insurance provided on such deposits. For the purpose of the financial statements, cash includes cash in banks. Cash was $100,459 and $91,597 as of September 30, 2019 and 2018, respectively. There were no cash equivalents as of September 30, 2019 and 2018. Property and equipment Property and equipment of the Company is stated at cost. In accordance with ASC Topic 360 Property, Plant and Equipment During the year ended September 30, 2019, the Company did not purchase any property or equipment. Depreciation expense was $472 during the year ended September 30, 2019 compared to $118 during the year ended September 30, 2018. Oil and Gas Properties The Company follows the full cost method of accounting for its oil and gas properties, whereby all costs incurred in connection with the acquisition, exploration for and development of petroleum and natural gas reserves are capitalized. Such costs include lease acquisition, geological and geophysical activities, rentals on non-producing leases, drilling, completing, and equipping of oil and gas wells and administrative costs directly attributable to those activities and asset retirement costs. Disposition of oil and gas properties are accounted for as a reduction of capitalized costs, with no gain or loss recognized unless such adjustment would significantly alter the relationship between capital costs and proved reserves of oil, in which case the gain or loss is recognized in the statement of operations. Costs of production and general and administrative corporate costs unrelated to acquisition, exploration and development activities are expensed as incurred. The Company recorded other income in connection with oil lease royalties in the amount of $0 and $5,531 during the years ended September 30, 2019 and 2018, respectively. All oil and gas properties were disposed of during the period ended September 30, 2018. Income Taxes The Company accounts for income taxes under ASC 740 Income Taxes Commitments and Contingencies The Company follows subtopic 450-20 of the FASB Accounting Standards Codification to report accounting for contingencies. Certain conditions may exist as of the date the consolidated financial statements are issued, which may result in a loss to the Company but which will only be resolved when one or more future events occur or fail to occur. The Company assesses such contingent liabilities, and such assessment inherently involves an exercise of judgment. There are no known commitments or contingencies as of September 30, 2019 or 2018. Recently Issued Accounting Pronouncements Accounting standards promulgated by the Financial Accounting Standards Board (the “FASB”) are subject to change. Changes in such standards may have an impact on our future financial statements. The following are a summary of recent accounting developments. In May 2014, the FASB issued Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers (Topic 606), to clarify the principles of recognizing revenue and create common revenue recognition guidance between U.S. GAAP and International Financial Reporting Standards. Under ASU 2014-09, revenue is recognized when a customer obtains control of promised goods or services and is recognized at an amount that reflects the consideration expected to be received in exchange for such goods or services. In addition, ASU 2014-09 requires disclosure of the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. The ASU is effective for fiscal years beginning after December 15, 2017. The new revenue standard is principle-based and interpretation of those principles may vary from company to company based on their unique circumstances. It is possible that interpretation, industry practice, and guidance may evolve as companies and the accounting profession work to implement this new standard. The implementation of this standard did not have a material effect on our results of operations. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842): Accounting for Leases. This update requires that lessees recognize right-of-use assets and lease liabilities that are measured at the present value of the future lease payments at lease commencement date. The recognition, measurement, and presentation of expenses and cash flows arising from a lease by a lessee will largely remain unchanged and shall continue to depend on its classification as a finance or operating lease. We have performed a comprehensive review in order to determine what changes were required to support the adoption of this new standard. We intend to adopt the ASU and related amendments on October 1, 2019 and expect to elect certain practical expedients permitted under the transition guidance. We elected the optional transition method that allows for a cumulative-effect adjustment in the period of adoption and will not restate prior periods. Under the new guidance, the majority of our leases will continue to be classified as operating leases. During the first quarter of fiscal 2020, we will complete our implementation of our processes and policies to support the new lease accounting and reporting requirements. We do not expect the implementation of this pronouncement to have a material effect on our financial statements. In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230). The update addresses eight specific cash flow issues and is intended to reduce diversity in practice in how certain cash receipts and cash payments are presented and classified in the statement of cash flows. This update is effective for reporting periods beginning after December 15, 2017, including interim periods within the reporting period. Adoption of ASU 2016-15 did not have a material effect on our financial statements. In January 2017, the FASB issued ASU No. 2017-04, Simplifying the Test for Goodwill Impairment, which simplifies the subsequent measurement of goodwill by eliminating Step 2 from the goodwill impairment test. In computing the implied fair value of goodwill under Step 2, current U.S. GAAP requires the performance of procedures to determine the fair value at the impairment testing date of assets and liabilities (including unrecognized assets and liabilities) following the procedure that would be required in determining the fair value of assets acquired and liabilities assumed in a business combination. Instead, the amendments under this ASU require the goodwill impairment test to be performed by comparing the fair value of a reporting unit with its carrying amount. An impairment charge should be recognized for the amount by which the carrying amount exceeds the reporting unit’s fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. The ASU becomes effective for us on October 1, 2019. We do not expect the implementation of this pronouncement to have a material effect on our financial statements. In May 2017, the FASB issued ASU No. 2017-09, Stock Compensation - Scope of Modification Accounting, which provides guidance on which changes to the terms or conditions of a share-based payment award require an entity to apply modification accounting. The ASU requires that an entity account for the effects of a modification unless the fair value (or calculated value or intrinsic value, if used), vesting conditions and classification (as equity or liability) of the modified award are all the same as for the original award immediately before the modification. The ASU became effective for us on October 1, 2018, and will be applied to an award modified on or after the adoption date. Adoption of ASU 2017-09 did not have a material effect on our financial statements. Effective June 1, 2018, we adopted Accounting Standards Codification (“ASC”) 606 — Revenue from Contracts with Customers. Under ASC 606, we recognize revenue from the commercial sales of products, licensing agreements and contracts to perform pilot studies by applying the following steps: (1) identify the contract with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to each performance obligation in the contract; and (5) recognize revenue when each performance obligation is satisfied. For the comparative periods, revenue has not been adjusted and continues to be reported under ASC 605 — Revenue Recognition. Under ASC 605, revenue is recognized when the following criteria are met: (1) persuasive evidence of an arrangement exists; (2) the performance of service has been rendered to a customer or delivery has occurred; (3) the amount of fee to be paid by a customer is fixed and determinable; and (4) the collectability of the fee is reasonably assured. There was no impact on our financial statements as a result of adopting ASC 606. There are various other updates recently issued, most of which represented technical corrections to the accounting literature or application to specific industries and are not expected to a have a material impact on our consolidated financial position, results of operations or cash flows. |
Going Concern
Going Concern | 12 Months Ended |
Sep. 30, 2019 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Substantial Doubt about Going Concern [Text Block] | Note 3. Going Concern The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern. For the year ended September 30, 2019, the Company had a net loss of $675,072. As of September 30, 2019, the Company had a working capital deficit of $686,257 and an accumulated deficit of $6,673,607. The Company has minimal revenue. Without additional capital, the Company will not be able to remain in business. These factors raise a substantial doubt about the Company’s ability to continue as a going concern. The accompanying financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classifications of liabilities that may result from the possible inability of the Company to continue as a going concern. Management has plans to address the Company’s financial situation as follows: In the near term, management plans to continue to focus on raising the funds necessary to implement the Company’s business plan. Management will continue to seek out debt financing to obtain the capital required to meet the Company’s financial obligations. There is no assurance, however, that lenders will advance capital to the Company or that the new business operations will be profitable. The possibility of failure in obtaining additional funding and the potential inability to achieve profitability raise doubts about the Company’s ability to continue as a going concern. In the long term, management believes that the Company’s projects and initiatives will be successful and will provide cash flow to the Company, which will be used to finance the Company’s future growth. However, there can be no assurances that the Company’s planned activities will be successful, or that the Company will ultimately attain profitability. The Company’s long-term viability depends on its ability to obtain adequate sources of debt or equity funding to meet current commitments and fund the continuation of its business operations, and the ability of the Company to achieve adequate profitability and cash flows from operations to sustain its operations. |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Sep. 30, 2019 | |
Related Party Transactions [Abstract] | |
Related Party Transactions Disclosure [Text Block] | Note 4. Related Party Transactions For the year ended September 30, 2019 David Summers, a significant shareholder of the Company, formerly provided consulting services to the Company related to the development of our products. In addition, the Company had previously rented office space from Mr. Summers for $400 per month under a month to month lease. As of September 30, 2019, the aggregate liability accrued to Mr. Summers was $112,804. The Company was also involved in a legal dispute with Mr. Summers to gather the funds due by Summers to the Company, as well as the written agreement for Summers to provide certain patents and formulas. Subsequent to September 30, 2019, the Company entered into a settlement agreement with Mr. Summers; see note 10. Alex Blankenship is paid $5,000 per month under her employment agreement as Chief Executive Officer of the Company. As of September 30, 2019, the Company owed Ms. Blankenship $140,438 for unpaid compensation. During the year ended September 30, 2019, the Company issued 3,500,000 shares of common stock with a fair value of $68,250 to Ms. Blankenship as a bonus. These shares were valued at $0.195 per share, which was the closing price of the Company’s common stock on the date of the grant. As of September 30, 2019, the Company owed Sydney Jim, our former CEO, $38,130 for accrued but unpaid compensation. For the year ended September 30, 2018 Alex Blankenship is paid $5,000 per month under her employment agreement with the Company. As of September 30, 2018, the Company owed Ms. Blankenship $130,438 for unpaid compensation. As of September 30, 2018, the Company owed Sydney Jim, our former CEO, $38,130 for accrued but unpaid compensation. During the period from inception (April 29, 2016) through September 30, 2016, Mr. Summers advanced $1,000 to the Company for working capital. The advance was non-interest bearing and payable on demand. During the same period, Mr. Summers paid $275 of expenses on behalf of the Company. As of September 30, 2018, the Company owed Mr. Summers a total of $112,804. Effective June 18, 2018, the Company dissolved all relationships with Mr. Summers. |
Convertible Notes Payable
Convertible Notes Payable | 12 Months Ended |
Sep. 30, 2019 | |
Debt Disclosure [Abstract] | |
Debt Disclosure [Text Block] | Note 5. Convertible Notes Payable Convertible notes payable consisted of the following at September 30, 2019 and September 30, 2018: September 30, 2019 September 30, 2018 Convertible note dated April 13, 2017 in the original principal amount of $20,000, no stated maturity date, bearing interest at 3% per year, convertible into common stock at a rate of $0.01 per share. $ 20,000 $ 20,000 Convertible note dated May 14, 2018 in the original principal amount of $58,000, maturing February 28, 2019, bearing interest at 12% per year, convertible beginning November 14, 2018 into common stock at a rate of 65% of the average of the two lowest bid prices during the 15 trading days prior to conversion. In November and December 2018, principal in the amount of $58,000 and accrued interest in the amount of $3,480 were converted into a total of 6,959,142 shares of common stock. - 58,000 Convertible note dated June 25, 2018 in the original principal amount of $43,000, maturing April 15, 2019, bearing interest at 12% per year, convertible beginning December 25, 2018 into common stock at a rate of 65% of the average of the two lowest bid prices during the 15 trading days prior to conversion. In December 2018, principal in the amount of $12,000 was converted into a 2,006,689 shares of common stock; in January 2019, principal in the amount of $31,000 and accrued interest in the amount of $2,580, respectively, were converted into an aggregate of 5,245,708 shares of common stock. - 43,000 Convertible note dated August 2, 2018 in the original principal amount of $33,000, maturing May 15, 2019, bearing interest at 12% per year, convertible beginning February 2, 2019 into common stock at a rate of 65% of the average of the two lowest bid prices during the 15 trading days prior to conversion. In February 2019, principal in the amount of $33,000 and accrued interest in the amount $1,980 were converted into an aggregate of 2,608,527 shares of common stock. - 33,000 Convertible note dated September 7, 2018 in the original principal amount of $40,000, maturing June 30, 2019, bearing interest at 12% per year, convertible beginning March 7, 2019 into common stock at a rate of 65% of the average of the two lowest bid prices during the 15 trading days prior to conversion. In March 2019, principal in the amount of $40,000 and accrued interest in the amount of $2,400 were converted into an aggregate of 7,298,763 shares of common stock. - 40,000 Convertible note dated October 31, 2018 in the original principal amount of $38,000, maturing August 15, 2019, bearing interest at 12% per year, convertible beginning April 29, 2019 into common stock at a rate of 65% of the average of the two lowest bid prices during the 15 trading days prior to conversion. In May 2019, principal in the amount of $38,000 and accrued interest in the amount of $2,280 were converted into an aggregate of 8,597,234 shares of common stock. - - September 30, 2019 September 30, 2018 Convertible note dated December 20, 2018 in the original principal amount of $33,000, maturing October 15, 2019, bearing interest at 12% per year, convertible beginning June 18, 2019 into common stock at a rate of 65% of the average of the two bid prices during the 15 trading days prior to conversion. In July 2019, principal in the amount of $33,000 and accrued interest in the amount of $1,980 were converted into an aggregate of 13,859,627 shares of common stock. - - Convertible note dated January 22, 2019 in the original principal amount of $38,000, maturing November 15, 2019, bearing interest at 12% per year, convertible beginning July 21, 2019 into common stock at a rate of 65% of the average of the two lowest bid prices during the 15 trading days prior to conversion. In July 2019, principal in the amount of $11,600 was converted into an aggregate of 6,105,263 shares of common stock; in August 2019, principal in the amount of $26,400 and accrued interest in the amount of $2,280 were converted into an aggregate of 15,094,737 shares of common stock. - - Convertible note dated February 19, 2019 in the original principal amount of $38,000, maturing December 15, 2019, bearing interest at 12% per year, convertible beginning August 18, 2019 into common stock at a rate of 65% of the average of the two lowest bid prices during the 15 trading days prior to conversion. In August 2019, principal in the amount of $38,000 and accrued interest in the amount of $2,280 were converted into an aggregate of 26,568,571 shares of common stock. - - Convertible note dated April 1, 2019 in the original principal amount of $45,000, maturing February 15, 2020, bearing interest at 12% per year, convertible beginning September 28, 2019 into common stock at a rate of 65% of the average of the two lowest bid prices during the 15 trading days prior to conversion. 45,000 - Convertible note dated May 21, 2019 in the original principal amount of $35,000, maturing March 15, 2020, bearing interest at 12% per year, convertible beginning November 17, 2019 into common stock at a rate of 65% of the average of the two lowest bid prices during the 15 trading days prior to conversion. 35,000 - Convertible note dated August 2, 2019 in the original principal amount of $33,000, maturing May 15, 2020, bearing interest at 12% per year, convertible beginning January 29, 2020 into common stock at a rate of 65% of the average of the two lowest bid prices during the 15 trading days prior to conversion. 33,000 - Convertible note dated August 13, 2019 in the original principal amount of $33,000, maturing May 30, 2020, bearing interest at 12% per year, convertible beginning February 9, 2020 into common stock at a rate of 65% of the average of the two lowest bid prices during the 15 trading days prior to conversion. 33,000 - Total current convertible notes payable 166,000 194,000 Less: discount on convertible notes payable (52,205 ) (8,720 ) Total convertible notes payable, net of discount $ 113,795 $ 185,280 During the year ended September 30, 2019, the Company also converted a note payable with a remaining principal of $0 into 3,300,001 shares of common stock with a fair value of $99,000; the Company recognized a loss in the amount of $99,000 on this conversion. This debt was originally settled in a previous year through conversions, but the Company honored a current year conversion notice resulting in a loss on conversion. All principal along with accrued interest is payable on the maturity date. The notes are convertible into common stock at the option of the holder. The holder of the notes cannot convert the notes into shares of common stock if that conversion would result in the holder owning more than 4.9% of the outstanding stock of the Company. During the year ended September 30, 2019, the Company recognized interest expense of $25,521 and amortization of discount on convertible notes payable of $334,842. During the year ended September 30, 2018, the Company recognized interest expense of $19,893 and amortization of discount on convertible notes payable of $83,597. Conversions to Common Stock During the year ended September 30, 2019, the holders of the convertible notes payable elected to convert principal and accrued interest of $339,763 into 97,644,262 shares of common stock, resulting in a loss on conversion in the amount of $99,000. During the year ended September 30, 2018, the holders of the convertible notes payable elected to convert principal and accrued interest of $109,180 into 20,738,954 shares of common stock, resulting in a loss on conversion in the amount of $360,480. Advances As of September 30, 2019 and 2018, the Company owed non-interest bearing advances of $59,650. The Company recorded imputed interest in the amount of $4,772 during the years ended September 30, 2019 and 2018. |
Note Payable
Note Payable | 12 Months Ended |
Sep. 30, 2019 | |
Disclosure Text Block [Abstract] | |
Long-term Debt [Text Block] | Note 6. Note Payable The Company entered into a promissory note with its attorney to refinance accounts payable of $68,793 as of September 30, 2016 into a promissory note. The note can be issued up to the total principal amount of $100,000 and includes the prepayment of legal fees of $31,498 to be incurred during the period from October 1, 2016 through March 1, 2017. The note payable was recorded at $68,793 (the amount of refinanced accounts payable) as of September 30, 2017. There was no prepayment recognized as of September 30, 2017. During the year ended September 30, 2018, the company increased the amount of the note to $100,000 in connection with legal fees incurred. The note bears interest at the prime rate and requires monthly payments of principal and interest of $10,000 beginning July 1, 2017, the maturity date. During the year ended September 30, 2019, this note in the principal amount of $100,000 and accrued interest in the amount of $10,834 was forgiven by the lender; the Company recorded a gain in the amount of $110,834 in connection with the note forgiveness, and as of September 30, 2019, the balance of this note is $0. During the year ended September 30, 2019, the Company accrued interest in the amount of $1,371 and $4,058, respectively, on this note. |
Stockholders_ deficit
Stockholders’ deficit | 12 Months Ended |
Sep. 30, 2019 | |
Stockholders' Equity Note [Abstract] | |
Stockholders' Equity Note Disclosure [Text Block] | Note 7. Stockholders’ deficit As of inception, the Company had authorized 480,000,000 shares of common stock and 20,000,000 shares of preferred stock. As of September 30, 2019, there were 170,467,283 shares of common stock, 5,800,000 shares of Series A Preferred Stock, 509,988 shares of Series D Preferred Stock, 1,000,000 shares of Series E Preferred Stock and 386,975 shares of Series F Preferred Stock outstanding. Conversions to Common Stock During the year ended September 30, 2019, the holders of the convertible notes payable elected to convert principal and accrued interest of $339,763 into 97,644,262 shares of common stock, resulting in a loss on conversion in the amount of $99,000. During the year ended September 30, 2018, the holders of the convertible notes payable elected to convert principal and accrued interest of $109,180 into 20,738,954 shares of common stock, resulting in a loss on conversion in the amount of $360,480. Common stock issued for services During the year ended September 30, 2019, the Company issued 3,500,000 shares of common stock with a fair value of $68,250 to its President and CEO as a bonus. These shares were valued at $0.195 per share, which was the closing price of the Company’s common stock on the date of the grant. Preferred Stock Our authorized preferred stock consists of 20,000,000 shares of $0.001 par value preferred stock. Series A Preferred Stock Series B Preferred Stock During the year ended September 30, 2018, the Company issued 500,000 shares of common stock upon conversion of the Series B Preferred Stock. A loss of $7,250 was recognized and is recorded in Additional paid-in capital on the consolidated balance sheet. At September 30, 2019 and 2018, there were 0 and 30,000 shares, respectively, of our Series B Preferred Stock outstanding. Series C Preferred Stock Series D Preferred Stock Series E Preferred Stock At September 30, 2019 and 2018, there were 1,000,000 shares of Series E Preferred stock outstanding. Dividends, when, as and if declared by the Board of Directors, shall be paid out of funds at the time legally available for such purposes. Series F Preferred Stock During the year ended September 30, 2018, the Company issued 2,500,000 shares of common stock upon conversion of 25,000 shares of Series F Preferred Stock. There was no gain or loss recognized on this transaction. During the year ended September 30, 2019, the holders of 60,000 shares of the Series D Preferred stock returned these shares to the Company for cancellation. There was no gain or loss recognized on this transaction. At September 30, 2019 and 2018, there were 386,975 and 446,975 shares of Series F Preferred Stock outstanding, respectively. Beneficial conversion discount During the year ended September 30, 2019, we recorded a beneficial conversion discount of $354,326 as a result of discounts on convertible notes payable issued during the period. During the year ended September 30, 2018, we recorded a beneficial conversion discount of $91,133 as a result of discounts on convertible notes payable issued during the period. |
Income Taxes
Income Taxes | 12 Months Ended |
Sep. 30, 2019 | |
Income Tax Disclosure [Abstract] | |
Income Tax Disclosure [Text Block] | Note 8. Income Taxes There is no current or deferred income tax expense or benefit for the period ended September 30, 2019. The Company currently has net operating loss carryforwards aggregating $2,007,956 which expire in 2033. The deferred tax asset related to the net operating loss carryforwards has been fully reserved. The provision for income taxes is different from that which would be obtained by applying the statutory federal income tax rate to income before income taxes. The items causing this difference for the period from April 29, 2016 (date of inception) through September 30, 2019 is the valuation allowance as follows. Tax benefit at U.S. statutory rate $ 423,807 Valuation allowance (423,807 ) Tax benefit, net $ — The Company has not recognized an income tax benefit for the period based on uncertainties concerning its ability to generate taxable income in future periods. The tax benefit for the current period presented is offset by a valuation allowance (100%) established against deferred tax assets arising from operating losses and other temporary differences, the realization of which could not be considered more likely than not. In future periods, tax benefits and related deferred tax assets will be recognized when management considers realization of such amounts to be more likely than not. The tax returns for fiscal year 2017 is still open for review by the Internal Revenue Service. |
Available-for-Sale Securities
Available-for-Sale Securities | 12 Months Ended |
Sep. 30, 2019 | |
Disclosure Text Block Supplement [Abstract] | |
Investments and Other Noncurrent Assets [Text Block] | Note 9. Available-for-Sale Securities The Company owns a non-controlling interest in certain marketable equity securities. This investment is accounted for as available-for-sale. The Company determined that the loss in value of the available-for-sale securities was considered other than temporary due to the fact that these shares are no longer trading on public markets. As a result, the loss of $10,673 was recognized as an impairment loss in the consolidated statement of operations. Available-for-sale securities is comprised of the following as of September 30, 2019 2018 Common stock of Biofuels Power Corp. (Initial Cost) $ 35,000 $ 35,000 Cumulative realized loss on available-for-sale securities (35,000 ) (24,327 ) Unrealized loss on available-for-sale securities - 971 Available-for-sale securities $ - $ 11,644 |
Subsequent Events
Subsequent Events | 12 Months Ended |
Sep. 30, 2019 | |
Subsequent Events [Abstract] | |
Subsequent Events [Text Block] | Note 10. Subsequent Events Change of Corporate Domicile to Wyoming On October 4, 2019, AngioSoma, Inc. (the “Company”) filed Articles of Continuance with the Secretary of State of Wyoming to continue its business in the state of Wyoming. The Company filed its Certificate of Dissolution with the Secretary of State of Nevada on October 21, 2019 since it is no longer a Nevada corporation. The Company undertook the necessary steps to notify the Financial Industry Regulatory Authority (“FINRA”) of the move from Nevada to Wyoming, and on October 28, 2019, FINRA notified the Company that FINRA has updated their system to reflect that the Company is now a Wyoming company. Settlement Agreement As of September 30, 2019, the Company was involved in litigation: Case No. 2018-48120; Somaceuticals, Inc. and AngioSoma, Inc. v. David Summers st Conversion of Notes Payable On October 7, 2019, the holders of the convertible note payable dated April 1, 2019 elected to convert principal in the amount of $12,000 into 4,285,714 shares of the Company’s common stock at a price of $0.0028 per share. There was no gain or loss recognized as the conversion occurred in accordance with the original terms of the agreement. On October 15, 2019, the holders of the convertible note payable dated April 1, 2019 elected to convert principal in the amount of $16,900 into 6,500,000 shares of the Company’s common stock at a price of $0.0026 per share. There was no gain or loss recognized as the conversion occurred in accordance with the original terms of the agreement. On October 22, 2019, the holders of the convertible note payable dated April 1, 2019 elected to convert principal in the amount of $16,100 and accrued interest in the amount of $2,700 into a total of 8,545,455 shares of the Company’s common stock at a price of $0.0022 per share. There was no gain or loss recognized as the conversion occurred in accordance with the original terms of the agreement. On December 2, 2019, the holders of the convertible note payable dated May 21, 2019 elected to convert principal in the amount of $15,000 into 7,894,737 shares of the Company’s common stock at a price of $0.0019 per share. There was no gain or loss recognized as the conversion occurred in accordance with the original terms of the agreement. On December 16, 2019, the holders of the convertible note payable dated May 21, 2019 elected to convert principal in the amount of $12,000 into 6,666,667 shares of the Company’s common stock at a price of $0.0018 per share. There was no gain or loss recognized as the conversion occurred in accordance with the original terms of the agreement. On December 27, 2019, the holders of the convertible note payable dated May 21, 2019 elected to convert principal in the amount of $8,000 and accrued interest in the amount of $2,100 into a total of 5,941,176 shares of the Company’s common stock at a price of $0.0017 per share. There was no gain or loss recognized as the conversion occurred in accordance with the original terms of the agreement. Annual Meeting On October 25, 2019, AngioSoma, Inc. (‘The Company’, ‘We’, ‘Our’) held its 2019 Annual Shareholder Meeting at 9:00 A.M. CDT in the corporate office (the “Meeting”) and today announces the results of the Meeting as follows: Alex Blankenship was reelected as the sole director to serve until the next annual meeting or until her successor is elected and qualified. The chairman made the following statement that was adopted by the majority shareholder and made a part of the 2019 Annual Shareholder Meeting: I’ve heard rumors that some people believe Brent Atwood, a permanently barred securities broker and unregistered investment advisor will become affiliated with the Corporation in some capacity other than shareholder. All shareholders and the public generally are strongly advised that management and the holder of majority shareholder vote have no intention of permitting Atwood to have any position with the Corporation. In addition to being barred for life as a broker and being an unregistered investment advisor, we are informed the Securities and Exchange Commission enforcement division has opened a file on Atwood for insider trading in the Corporation’s stock. M&K CPAS PLLC was confirmed as the Company’s auditor and there was no discussion or vote on executive compensation. |
Accounting Policies, by Policy
Accounting Policies, by Policy (Policies) | 12 Months Ended |
Sep. 30, 2019 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation The consolidated financial statements of the Company include the accounts of the Company and its wholly owned subsidiaries, SomaCeuticals, Inc., First Titan Energy, LLC and First Titan Technical, LLC from the date of their formations or acquisition. Significant intercompany transactions have been eliminated in consolidation. |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates |
Fair Value of Financial Instruments, Policy [Policy Text Block] | Fair Value of Financial Instruments The Company’s balance sheet includes certain financial instruments. The carrying amounts of current assets and current liabilities approximate their fair value because of the relatively short period between the origination of these instruments and their expected realization. FASB Accounting Standards Codification (ASC) 820 Fair Value Measurements and Disclosures Level 1 - Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. Level 2 - Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly, including quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; inputs other than quoted prices that are observable for the asset or liability (e.g., interest rates); and inputs that are derived principally from or corroborated by observable market data by correlation or other means. Level 3 - Inputs that are both significant to the fair value measurement and unobservable. Fair value estimates discussed herein are based upon certain market assumptions and pertinent information available to management as of September 30, 2019. The respective carrying value of certain on-balance-sheet financial instruments approximated their fair values due to the short-term nature of these instruments. These financial instruments include accounts payable and accrued expenses. The following table presents assets that were measured and recognized at fair value as of September 30, 2019 and the period then ended on a recurring and nonrecurring basis: Description Level 1 Level 2 Level 3 Total Available for sale securities $ — $ — $ — $ — Totals $ — $ — $ — $ — The following table presents assets that were measured and recognized at fair value as of September 30, 2018 and the period then ended on a recurring and nonrecurring basis: Description Level 1 Level 2 Level 3 Total Available for sale securities $ 11,644 $ — $ — $ 11,644 Totals $ 11,644 $ — $ — $ 11,644 |
Revenue [Policy Text Block] | Revenue Recognition The Company recognizes revenue from product sales upon product delivery. All of our products are shipped through a third-party fulfillment center to the customer and the customer takes title to product and assumes risk and ownership of the product when it is delivered. Shipping charges to customers and sales taxes collectible from customers, if any, are included in revenues. Effective June 1, 2018, the Company adopted ASC 606 — Revenue from Contracts with Customers. Under ASC 606, the Company recognizes revenue from the commercial sales of products, licensing agreements and contracts to perform pilot studies by applying the following steps: (1) identifying the contract with a customer; (2) identifying the performance obligations in the contract; (3) determining the transaction price; (4) allocating the transaction price to each performance obligation in the contract; and (5) recognizing revenue when each performance obligation is satisfied. For the comparative periods, revenue has not been adjusted and continues to be reported under ASC 605 — Revenue Recognition. Under ASC 605, revenue is recognized when the following criteria are met: (1) persuasive evidence of an arrangement exists; (2) the performance of the service has been rendered to a customer or delivery has occurred; (3) the amount of fee to be paid by a customer is fixed and determinable; and (4) the collectability of the fee is reasonably assured. There was no impact on the Company’s financial statements as a result of adopting Topic 606 for the year ended September 30, 2019. |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents All cash is maintained with a major financial institution in the United States. Deposits with this bank may occasionally exceed the amount of insurance provided on such deposits. For the purpose of the financial statements, cash includes cash in banks. Cash was $100,459 and $91,597 as of September 30, 2019 and 2018, respectively. There were no cash equivalents as of September 30, 2019 and 2018. |
Property, Plant and Equipment, Policy [Policy Text Block] | Property and equipment Property and equipment of the Company is stated at cost. In accordance with ASC Topic 360 Property, Plant and Equipment During the year ended September 30, 2019, the Company did not purchase any property or equipment. Depreciation expense was $472 during the year ended September 30, 2019 compared to $118 during the year ended September 30, 2018. |
Oil and Gas Properties Policy [Policy Text Block] | Oil and Gas Properties The Company follows the full cost method of accounting for its oil and gas properties, whereby all costs incurred in connection with the acquisition, exploration for and development of petroleum and natural gas reserves are capitalized. Such costs include lease acquisition, geological and geophysical activities, rentals on non-producing leases, drilling, completing, and equipping of oil and gas wells and administrative costs directly attributable to those activities and asset retirement costs. Disposition of oil and gas properties are accounted for as a reduction of capitalized costs, with no gain or loss recognized unless such adjustment would significantly alter the relationship between capital costs and proved reserves of oil, in which case the gain or loss is recognized in the statement of operations. Costs of production and general and administrative corporate costs unrelated to acquisition, exploration and development activities are expensed as incurred. The Company recorded other income in connection with oil lease royalties in the amount of $0 and $5,531 during the years ended September 30, 2019 and 2018, respectively. All oil and gas properties were disposed of during the period ended September 30, 2018. |
Income Tax, Policy [Policy Text Block] | Income Taxes The Company accounts for income taxes under ASC 740 Income Taxes |
Commitments and Contingencies, Policy [Policy Text Block] | Commitments and Contingencies The Company follows subtopic 450-20 of the FASB Accounting Standards Codification to report accounting for contingencies. Certain conditions may exist as of the date the consolidated financial statements are issued, which may result in a loss to the Company but which will only be resolved when one or more future events occur or fail to occur. The Company assesses such contingent liabilities, and such assessment inherently involves an exercise of judgment. There are no known commitments or contingencies as of September 30, 2019 or 2018. |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Issued Accounting Pronouncements Accounting standards promulgated by the Financial Accounting Standards Board (the “FASB”) are subject to change. Changes in such standards may have an impact on our future financial statements. The following are a summary of recent accounting developments. In May 2014, the FASB issued Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers (Topic 606), to clarify the principles of recognizing revenue and create common revenue recognition guidance between U.S. GAAP and International Financial Reporting Standards. Under ASU 2014-09, revenue is recognized when a customer obtains control of promised goods or services and is recognized at an amount that reflects the consideration expected to be received in exchange for such goods or services. In addition, ASU 2014-09 requires disclosure of the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. The ASU is effective for fiscal years beginning after December 15, 2017. The new revenue standard is principle-based and interpretation of those principles may vary from company to company based on their unique circumstances. It is possible that interpretation, industry practice, and guidance may evolve as companies and the accounting profession work to implement this new standard. The implementation of this standard did not have a material effect on our results of operations. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842): Accounting for Leases. This update requires that lessees recognize right-of-use assets and lease liabilities that are measured at the present value of the future lease payments at lease commencement date. The recognition, measurement, and presentation of expenses and cash flows arising from a lease by a lessee will largely remain unchanged and shall continue to depend on its classification as a finance or operating lease. We have performed a comprehensive review in order to determine what changes were required to support the adoption of this new standard. We intend to adopt the ASU and related amendments on October 1, 2019 and expect to elect certain practical expedients permitted under the transition guidance. We elected the optional transition method that allows for a cumulative-effect adjustment in the period of adoption and will not restate prior periods. Under the new guidance, the majority of our leases will continue to be classified as operating leases. During the first quarter of fiscal 2020, we will complete our implementation of our processes and policies to support the new lease accounting and reporting requirements. We do not expect the implementation of this pronouncement to have a material effect on our financial statements. In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230). The update addresses eight specific cash flow issues and is intended to reduce diversity in practice in how certain cash receipts and cash payments are presented and classified in the statement of cash flows. This update is effective for reporting periods beginning after December 15, 2017, including interim periods within the reporting period. Adoption of ASU 2016-15 did not have a material effect on our financial statements. In January 2017, the FASB issued ASU No. 2017-04, Simplifying the Test for Goodwill Impairment, which simplifies the subsequent measurement of goodwill by eliminating Step 2 from the goodwill impairment test. In computing the implied fair value of goodwill under Step 2, current U.S. GAAP requires the performance of procedures to determine the fair value at the impairment testing date of assets and liabilities (including unrecognized assets and liabilities) following the procedure that would be required in determining the fair value of assets acquired and liabilities assumed in a business combination. Instead, the amendments under this ASU require the goodwill impairment test to be performed by comparing the fair value of a reporting unit with its carrying amount. An impairment charge should be recognized for the amount by which the carrying amount exceeds the reporting unit’s fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. The ASU becomes effective for us on October 1, 2019. We do not expect the implementation of this pronouncement to have a material effect on our financial statements. In May 2017, the FASB issued ASU No. 2017-09, Stock Compensation - Scope of Modification Accounting, which provides guidance on which changes to the terms or conditions of a share-based payment award require an entity to apply modification accounting. The ASU requires that an entity account for the effects of a modification unless the fair value (or calculated value or intrinsic value, if used), vesting conditions and classification (as equity or liability) of the modified award are all the same as for the original award immediately before the modification. The ASU became effective for us on October 1, 2018, and will be applied to an award modified on or after the adoption date. Adoption of ASU 2017-09 did not have a material effect on our financial statements. Effective June 1, 2018, we adopted Accounting Standards Codification (“ASC”) 606 — Revenue from Contracts with Customers. Under ASC 606, we recognize revenue from the commercial sales of products, licensing agreements and contracts to perform pilot studies by applying the following steps: (1) identify the contract with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to each performance obligation in the contract; and (5) recognize revenue when each performance obligation is satisfied. For the comparative periods, revenue has not been adjusted and continues to be reported under ASC 605 — Revenue Recognition. Under ASC 605, revenue is recognized when the following criteria are met: (1) persuasive evidence of an arrangement exists; (2) the performance of service has been rendered to a customer or delivery has occurred; (3) the amount of fee to be paid by a customer is fixed and determinable; and (4) the collectability of the fee is reasonably assured. There was no impact on our financial statements as a result of adopting ASC 606. There are various other updates recently issued, most of which represented technical corrections to the accounting literature or application to specific industries and are not expected to a have a material impact on our consolidated financial position, results of operations or cash flows. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Sep. 30, 2019 | |
Accounting Policies [Abstract] | |
Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Table Text Block] | Description Level 1 Level 2 Level 3 Total Available for sale securities $ — $ — $ — $ — Totals $ — $ — $ — $ — Description Level 1 Level 2 Level 3 Total Available for sale securities $ 11,644 $ — $ — $ 11,644 Totals $ 11,644 $ — $ — $ 11,644 |
Convertible Notes Payable (Tabl
Convertible Notes Payable (Tables) | 12 Months Ended |
Sep. 30, 2019 | |
Debt Disclosure [Abstract] | |
Convertible Debt [Table Text Block] | Convertible notes payable consisted of the following at September 30, 2019 and September 30, 2018: September 30, 2019 September 30, 2018 Convertible note dated April 13, 2017 in the original principal amount of $20,000, no stated maturity date, bearing interest at 3% per year, convertible into common stock at a rate of $0.01 per share. $ 20,000 $ 20,000 Convertible note dated May 14, 2018 in the original principal amount of $58,000, maturing February 28, 2019, bearing interest at 12% per year, convertible beginning November 14, 2018 into common stock at a rate of 65% of the average of the two lowest bid prices during the 15 trading days prior to conversion. In November and December 2018, principal in the amount of $58,000 and accrued interest in the amount of $3,480 were converted into a total of 6,959,142 shares of common stock. - 58,000 Convertible note dated June 25, 2018 in the original principal amount of $43,000, maturing April 15, 2019, bearing interest at 12% per year, convertible beginning December 25, 2018 into common stock at a rate of 65% of the average of the two lowest bid prices during the 15 trading days prior to conversion. In December 2018, principal in the amount of $12,000 was converted into a 2,006,689 shares of common stock; in January 2019, principal in the amount of $31,000 and accrued interest in the amount of $2,580, respectively, were converted into an aggregate of 5,245,708 shares of common stock. - 43,000 Convertible note dated August 2, 2018 in the original principal amount of $33,000, maturing May 15, 2019, bearing interest at 12% per year, convertible beginning February 2, 2019 into common stock at a rate of 65% of the average of the two lowest bid prices during the 15 trading days prior to conversion. In February 2019, principal in the amount of $33,000 and accrued interest in the amount $1,980 were converted into an aggregate of 2,608,527 shares of common stock. - 33,000 Convertible note dated September 7, 2018 in the original principal amount of $40,000, maturing June 30, 2019, bearing interest at 12% per year, convertible beginning March 7, 2019 into common stock at a rate of 65% of the average of the two lowest bid prices during the 15 trading days prior to conversion. In March 2019, principal in the amount of $40,000 and accrued interest in the amount of $2,400 were converted into an aggregate of 7,298,763 shares of common stock. - 40,000 Convertible note dated October 31, 2018 in the original principal amount of $38,000, maturing August 15, 2019, bearing interest at 12% per year, convertible beginning April 29, 2019 into common stock at a rate of 65% of the average of the two lowest bid prices during the 15 trading days prior to conversion. In May 2019, principal in the amount of $38,000 and accrued interest in the amount of $2,280 were converted into an aggregate of 8,597,234 shares of common stock. - - September 30, 2019 September 30, 2018 Convertible note dated December 20, 2018 in the original principal amount of $33,000, maturing October 15, 2019, bearing interest at 12% per year, convertible beginning June 18, 2019 into common stock at a rate of 65% of the average of the two bid prices during the 15 trading days prior to conversion. In July 2019, principal in the amount of $33,000 and accrued interest in the amount of $1,980 were converted into an aggregate of 13,859,627 shares of common stock. - - Convertible note dated January 22, 2019 in the original principal amount of $38,000, maturing November 15, 2019, bearing interest at 12% per year, convertible beginning July 21, 2019 into common stock at a rate of 65% of the average of the two lowest bid prices during the 15 trading days prior to conversion. In July 2019, principal in the amount of $11,600 was converted into an aggregate of 6,105,263 shares of common stock; in August 2019, principal in the amount of $26,400 and accrued interest in the amount of $2,280 were converted into an aggregate of 15,094,737 shares of common stock. - - Convertible note dated February 19, 2019 in the original principal amount of $38,000, maturing December 15, 2019, bearing interest at 12% per year, convertible beginning August 18, 2019 into common stock at a rate of 65% of the average of the two lowest bid prices during the 15 trading days prior to conversion. In August 2019, principal in the amount of $38,000 and accrued interest in the amount of $2,280 were converted into an aggregate of 26,568,571 shares of common stock. - - Convertible note dated April 1, 2019 in the original principal amount of $45,000, maturing February 15, 2020, bearing interest at 12% per year, convertible beginning September 28, 2019 into common stock at a rate of 65% of the average of the two lowest bid prices during the 15 trading days prior to conversion. 45,000 - Convertible note dated May 21, 2019 in the original principal amount of $35,000, maturing March 15, 2020, bearing interest at 12% per year, convertible beginning November 17, 2019 into common stock at a rate of 65% of the average of the two lowest bid prices during the 15 trading days prior to conversion. 35,000 - Convertible note dated August 2, 2019 in the original principal amount of $33,000, maturing May 15, 2020, bearing interest at 12% per year, convertible beginning January 29, 2020 into common stock at a rate of 65% of the average of the two lowest bid prices during the 15 trading days prior to conversion. 33,000 - Convertible note dated August 13, 2019 in the original principal amount of $33,000, maturing May 30, 2020, bearing interest at 12% per year, convertible beginning February 9, 2020 into common stock at a rate of 65% of the average of the two lowest bid prices during the 15 trading days prior to conversion. 33,000 - Total current convertible notes payable 166,000 194,000 Less: discount on convertible notes payable (52,205 ) (8,720 ) Total convertible notes payable, net of discount $ 113,795 $ 185,280 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Sep. 30, 2019 | |
Income Tax Disclosure [Abstract] | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | The provision for income taxes is different from that which would be obtained by applying the statutory federal income tax rate to income before income taxes. The items causing this difference for the period from April 29, 2016 (date of inception) through September 30, 2019 is the valuation allowance as follows. Tax benefit at U.S. statutory rate $ 423,807 Valuation allowance (423,807 ) Tax benefit, net $ — |
Available-for-Sale Securities (
Available-for-Sale Securities (Tables) | 12 Months Ended |
Sep. 30, 2019 | |
Disclosure Text Block Supplement [Abstract] | |
Available-for-sale Securities [Table Text Block] | The Company owns a non-controlling interest in certain marketable equity securities. This investment is accounted for as available-for-sale. The Company determined that the loss in value of the available-for-sale securities was considered other than temporary due to the fact that these shares are no longer trading on public markets. As a result, the loss of $10,673 was recognized as an impairment loss in the consolidated statement of operations. Available-for-sale securities is comprised of the following as of September 30, 2019 2018 Common stock of Biofuels Power Corp. (Initial Cost) $ 35,000 $ 35,000 Cumulative realized loss on available-for-sale securities (35,000 ) (24,327 ) Unrealized loss on available-for-sale securities - 971 Available-for-sale securities $ - $ 11,644 |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Details) - USD ($) | 12 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2017 | |
Accounting Policies [Abstract] | |||
Cash and Cash Equivalents, at Carrying Value | $ 100,459 | $ 91,597 | $ 14,100 |
Depreciation | 472 | 118 | |
Results of Operations, Revenue from Oil and Gas Producing Activities | $ 0 | $ 5,531 |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies (Details) - Fair Value, Assets Measured on Recurring and Nonrecurring Basis - USD ($) | Sep. 30, 2019 | Sep. 30, 2018 |
Summary of Significant Accounting Policies (Details) - Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities | $ 0 | $ 11,644 |
Totals | 0 | 11,644 |
Fair Value, Inputs, Level 1 [Member] | ||
Summary of Significant Accounting Policies (Details) - Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities | 0 | 11,644 |
Totals | 0 | 11,644 |
Fair Value, Inputs, Level 2 [Member] | ||
Summary of Significant Accounting Policies (Details) - Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities | 0 | 0 |
Totals | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | ||
Summary of Significant Accounting Policies (Details) - Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities | 0 | 0 |
Totals | $ 0 | $ 0 |
Going Concern (Details)
Going Concern (Details) - USD ($) | 12 Months Ended | |
Sep. 30, 2019 | Sep. 30, 2018 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Net Income (Loss) Attributable to Parent | $ (675,072) | $ (816,741) |
Working Capital (Deficit) | (686,257) | |
Retained Earnings (Accumulated Deficit) | $ (6,673,607) | $ (5,998,535) |
Related Party Transactions (Det
Related Party Transactions (Details) - USD ($) | 12 Months Ended | |
Sep. 30, 2019 | Sep. 30, 2018 | |
Majority Shareholder [Member] | ||
Related Party Transactions (Details) [Line Items] | ||
Operating Leases, Rent Expense, Minimum Rentals | $ 400 | |
Due to Related Parties, Current | 112,804 | $ 112,804 |
Related Party Transaction, Expenses from Transactions with Related Party | 275 | |
Proceeds from Related Party Debt | 1,000 | |
Chief Executive Officer [Member] | ||
Related Party Transactions (Details) [Line Items] | ||
Related Party Transaction, Expenses from Transactions with Related Party | 5,000 | 5,000 |
Accrued Salaries, Current | $ 140,438 | 130,438 |
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture (in Shares) | 3,500,000 | |
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture | $ 68,250 | |
Shares Issued, Price Per Share (in Dollars per share) | $ 0.195 | |
Former CEO [Member] | ||
Related Party Transactions (Details) [Line Items] | ||
Accrued Salaries, Current | $ 38,130 | $ 38,130 |
Convertible Notes Payable (Deta
Convertible Notes Payable (Details) - USD ($) | 12 Months Ended | |
Sep. 30, 2019 | Sep. 30, 2018 | |
Convertible Notes Payable (Details) [Line Items] | ||
Convertible Notes Payable | $ 0 | |
Stock Issued During Period, Shares, Conversion of Convertible Securities (in Shares) | 3,300,001 | |
Stock Issued During Period, Value, Conversion of Convertible Securities | $ 99,000 | |
Interest Expense | 360,363 | $ 103,490 |
Amortization of Debt Discount (Premium) | 334,842 | 83,597 |
Debt Conversion, Original Debt, Amount | 340,260 | 109,180 |
Gain (Loss) on Extinguishment of Debt | 110,834 | 0 |
Short-term Debt | 59,650 | |
Imputed Interest | $ 4,772 | |
Convertible Debt [Member] | ||
Convertible Notes Payable (Details) [Line Items] | ||
Debt Instrument, Convertible, Terms of Conversion Feature | The notes are convertible into common stock at the option of the holder. The holder of the notes cannot convert the notes into shares of common stock if that conversion would result in the holder owning more than 4.9% of the outstanding stock of the Company. | |
Interest Expense | $ 25,521 | 19,893 |
Amortization of Debt Discount (Premium) | 334,842 | 83,597 |
Debt Conversion, Original Debt, Amount | $ 339,763 | $ 109,180 |
Debt Conversion, Converted Instrument, Shares Issued (in Shares) | 97,644,262 | 20,738,954 |
Gain (Loss) on Extinguishment of Debt | $ (99,000) | $ 360,480 |
Convertible Notes Payable (De_2
Convertible Notes Payable (Details) - Convertible Debt - USD ($) | Sep. 30, 2019 | Sep. 30, 2018 |
Convertible Notes Payable (Details) - Convertible Debt [Line Items] | ||
Total current convertible notes payable | $ 166,000 | $ 194,000 |
Less: discount on convertible notes payable | (52,205) | (8,720) |
Long-term convertible notes payable, net of discount | 113,795 | 185,280 |
Convertible Note, Date April 13, 2017 [Member] | ||
Convertible Notes Payable (Details) - Convertible Debt [Line Items] | ||
Convertible note | 20,000 | 20,000 |
Convertible Note,Dated May 14, 2018 [Member] | ||
Convertible Notes Payable (Details) - Convertible Debt [Line Items] | ||
Convertible note | 0 | 58,000 |
Convertible Note,Dated June 25, 2018 [Member] | ||
Convertible Notes Payable (Details) - Convertible Debt [Line Items] | ||
Convertible note | 0 | 43,000 |
Convertible Note, Dated August 2, 2018 [Member] | ||
Convertible Notes Payable (Details) - Convertible Debt [Line Items] | ||
Convertible note | 0 | 33,000 |
Convertible Note, Dated September 7, 2018 [Member] | ||
Convertible Notes Payable (Details) - Convertible Debt [Line Items] | ||
Convertible note | 0 | 40,000 |
Convertible Note, Dated October 31, 2018 [Member] | ||
Convertible Notes Payable (Details) - Convertible Debt [Line Items] | ||
Convertible note | 0 | 0 |
Convertible Note, Dated December 20, 2018 [Member] | ||
Convertible Notes Payable (Details) - Convertible Debt [Line Items] | ||
Convertible note | 0 | 0 |
Convertible Note, Dated January 22, 2019 [Member] | ||
Convertible Notes Payable (Details) - Convertible Debt [Line Items] | ||
Convertible note | 0 | 0 |
Convertible Note, Dated February 19, 2019 [Member] | ||
Convertible Notes Payable (Details) - Convertible Debt [Line Items] | ||
Convertible note | 0 | 0 |
Convertible Note, Dated April 1, 2019 [Member] | ||
Convertible Notes Payable (Details) - Convertible Debt [Line Items] | ||
Convertible note | 45,000 | 0 |
Convertible Note, Dated May 21, 2019 [Member] | ||
Convertible Notes Payable (Details) - Convertible Debt [Line Items] | ||
Convertible note | 35,000 | 0 |
Convertible Note, Dated August 2, 2019 [Member] | ||
Convertible Notes Payable (Details) - Convertible Debt [Line Items] | ||
Convertible note | 33,000 | 0 |
Convertible Note, Dated August 13, 2019 [Member] | ||
Convertible Notes Payable (Details) - Convertible Debt [Line Items] | ||
Convertible note | $ 33,000 | $ 0 |
Convertible Notes Payable (De_3
Convertible Notes Payable (Details) - Convertible Debt (Parentheticals) - USD ($) | 12 Months Ended | |
Sep. 30, 2019 | Sep. 30, 2018 | |
Convertible Note, Date April 13, 2017 [Member] | ||
Convertible Notes Payable (Details) - Convertible Debt (Parentheticals) [Line Items] | ||
Amount | $ 20,000 | |
Dated | Apr. 13, 2017 | Apr. 13, 2017 |
Interest | 3.00% | 3.00% |
Convertible rate | $ 0.01 | $ 0.01 |
Convertible Note,Dated May 14, 2018 [Member] | ||
Convertible Notes Payable (Details) - Convertible Debt (Parentheticals) [Line Items] | ||
Amount | $ 58,000 | |
Dated | May 14, 2018 | |
Interest | 12.00% | |
Convertible rate | $ 0.65 | |
Maturing | February 28, 2019 | |
Convertible | convertible beginning November 14, 2018 into common stock at a rate of 65% of the average of the two lowest trading prices during the 15 trading days prior to conversion | |
Amount converted | $ 3,480 | |
Converted shares of common stock | 6,959,142 | |
Convertible Note,Dated June 25, 2018 [Member] | ||
Convertible Notes Payable (Details) - Convertible Debt (Parentheticals) [Line Items] | ||
Amount | $ 43,000 | |
Dated | Jun. 25, 2018 | |
Interest | 12.00% | |
Convertible rate | $ 0.65 | |
Maturing | April 15, 2019 | |
Convertible | convertible beginning December 25, 2018 into common stock at a rate of 65% of the average of the two lowest trading prices during the 15 trading days prior to conversion | |
Convertible Note, Dated August 2, 2018 [Member] | ||
Convertible Notes Payable (Details) - Convertible Debt (Parentheticals) [Line Items] | ||
Amount | $ 33,000 | |
Dated | Aug. 2, 2018 | |
Interest | 12.00% | |
Convertible rate | $ 0.65 | |
Maturing | May 15, 2019 | |
Convertible | convertible beginning February 2, 2019 into common stock at a rate of 65% of the average of the two lowest trading prices during the 15 trading days prior to conversion | |
Convertible Note, Dated September 7, 2018 [Member] | ||
Convertible Notes Payable (Details) - Convertible Debt (Parentheticals) [Line Items] | ||
Amount | $ 40,000 | |
Dated | Sep. 7, 2018 | |
Interest | 12.00% | |
Convertible rate | $ 0.65 | |
Maturing | June 30, 2019 | |
Convertible | convertible beginning March 7, 2019 into common stock at a rate of 65% of the average of the two lowest trading prices during the 15 trading days prior to conversion | |
Convertible Note, Dated October 31, 2018 [Member] | ||
Convertible Notes Payable (Details) - Convertible Debt (Parentheticals) [Line Items] | ||
Amount | $ 38,000 | |
Dated | Oct. 31, 2018 | |
Interest | 12.00% | |
Convertible rate | $ 0.65 | |
Maturing | August 15, 2019 | |
Convertible | convertible beginning August 15, 2019 into common stock at a rate of 65% of the average of the two lowest trading prices during the 15 trading days prior to conversion | |
Convertible Note, Dated December 20, 2018 [Member] | ||
Convertible Notes Payable (Details) - Convertible Debt (Parentheticals) [Line Items] | ||
Amount | $ 33,000 | |
Dated | Dec. 20, 2018 | |
Interest | 12.00% | |
Convertible rate | $ 0.65 | |
Maturing | October 15, 2019 | |
Convertible | convertible beginning June 18, 2019 into common stock at a rate of 65% of the average of the two bid prices during the 15 trading days prior to conversion | |
Convertible Note, Dated January 22, 2019 [Member] | ||
Convertible Notes Payable (Details) - Convertible Debt (Parentheticals) [Line Items] | ||
Amount | $ 38,000 | |
Dated | Jan. 22, 2019 | |
Interest | 12.00% | |
Convertible rate | $ 0.65 | |
Maturing | November 15, 2019 | |
Convertible | convertible beginning July 21, 2019 into common stock at a rate of 65% of the average of the two lowest trading prices during the 15 trading days prior to conversion | |
Convertible Note, Dated February 19, 2019 [Member] | ||
Convertible Notes Payable (Details) - Convertible Debt (Parentheticals) [Line Items] | ||
Amount | $ 38,000 | |
Dated | Feb. 19, 2019 | |
Interest | 12.00% | |
Convertible rate | $ 0.65 | |
Maturing | December 15, 2019 | |
Convertible | convertible beginning August 18, 2019 into common stock at a rate of 65% of the average of the two lowest trading prices during the 15 trading days prior to conversion | |
Convertible Note, Dated April 1, 2019 [Member] | ||
Convertible Notes Payable (Details) - Convertible Debt (Parentheticals) [Line Items] | ||
Amount | $ 45,000 | |
Dated | Apr. 1, 2019 | |
Interest | 12.00% | |
Convertible rate | $ 0.65 | |
Maturing | February 15, 2019 | |
Convertible | convertible beginning September 28, 2019 into common stock at a rate of 65% of the average of the two lowest trading prices during the 15 trading days prior to conversion | |
Convertible Note, Dated May 21, 2019 [Member] | ||
Convertible Notes Payable (Details) - Convertible Debt (Parentheticals) [Line Items] | ||
Amount | $ 35,000 | |
Dated | May 21, 2019 | |
Interest | 12.00% | |
Convertible rate | $ 0.65 | |
Maturing | March 15, 2019 | |
Convertible | convertible beginning November 17, 2019 into common stock at a rate of 65% of the average of the two lowest trading prices during the 15 trading days prior to conversion | |
Convertible Note, Dated August 2, 2019 [Member] | ||
Convertible Notes Payable (Details) - Convertible Debt (Parentheticals) [Line Items] | ||
Amount | $ 33,000 | |
Dated | Aug. 2, 2019 | |
Interest | 12.00% | |
Convertible rate | $ 0.65 | |
Maturing | May 15, 2019 | |
Convertible | convertible beginning January 29, 2020 into common stock at a rate of 65% of the average of the two lowest bid prices during the 15 trading days prior to conversion | |
Convertible Note, Dated August 13, 2019 [Member] | ||
Convertible Notes Payable (Details) - Convertible Debt (Parentheticals) [Line Items] | ||
Amount | $ 33,000 | |
Dated | Aug. 13, 2019 | |
Interest | 12.00% | |
Convertible rate | $ 0.65 | |
Maturing | May 30, 2019 | |
Convertible | convertible beginning February 9, 2020 into common stock at a rate of 65% of the average of the two lowest bid prices during the 15 trading days prior to conversion |
Note Payable (Details)
Note Payable (Details) - Notes Payable, Other Payables [Member] - USD ($) | Jul. 01, 2017 | Jun. 30, 2019 | Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2016 |
Note Payable (Details) [Line Items] | ||||||
Debt Instrument, Face Amount | $ 68,793 | $ 68,793 | ||||
Debt Instrument, Increase (Decrease), Net | $ 100,000 | |||||
Debt Instrument, Periodic Payment | $ 10,000 | |||||
Debt Instrument, Decrease, Forgiveness | 10,834 | |||||
Gain (Loss) on Extinguishment of Debt | 110,834 | |||||
Notes Payable | 0 | |||||
Interest Expense, Debt | $ 4,058 | $ 1,371 | ||||
Principal [Member] | ||||||
Note Payable (Details) [Line Items] | ||||||
Debt Instrument, Face Amount | 100,000 | |||||
Debt Instrument, Decrease, Forgiveness | $ 100,000 | |||||
Prepaid Legal Fees [Member] | ||||||
Note Payable (Details) [Line Items] | ||||||
Debt Instrument, Face Amount | $ 31,498 |
Stockholders_ deficit (Details)
Stockholders’ deficit (Details) - USD ($) | Sep. 21, 2017 | Sep. 12, 2017 | Sep. 30, 2019 | Sep. 30, 2018 | Aug. 03, 2015 |
Stockholders’ deficit (Details) [Line Items] | |||||
Common Stock, Shares Authorized | 480,000,000 | 480,000,000 | |||
Preferred Stock, Shares Authorized | 20,000,000 | ||||
Common Stock, Shares, Outstanding | 170,467,283 | 69,323,021 | |||
Debt Conversion, Original Debt, Amount (in Dollars) | $ 340,260 | $ 109,180 | |||
Gain (Loss) on Extinguishment of Debt (in Dollars) | $ 110,834 | 0 | |||
Stock Issued During Period, Shares, Issued for Services | 3,500,000 | ||||
Stock Issued During Period, Value, Issued for Services (in Dollars) | $ 68,250 | ||||
Shares Issued, Price Per Share (in Dollars per share) | $ 0.195 | ||||
Preferred Stock, Par or Stated Value Per Share (in Dollars per share) | $ 0.001 | ||||
Conversion of Stock, Shares Issued | 2,500,000 | ||||
Adjustments to Additional Paid in Capital, Other (in Dollars) | 360,480 | ||||
Debt Instrument, Convertible, Beneficial Conversion Feature (in Dollars) | $ 354,326 | 91,133 | |||
Convertible Debt [Member] | |||||
Stockholders’ deficit (Details) [Line Items] | |||||
Debt Conversion, Original Debt, Amount (in Dollars) | $ 339,763 | $ 109,180 | |||
Debt Conversion, Converted Instrument, Shares Issued | 97,644,262 | 20,738,954 | |||
Gain (Loss) on Extinguishment of Debt (in Dollars) | $ (99,000) | $ 360,480 | |||
Series A Preferred Stock [Member] | |||||
Stockholders’ deficit (Details) [Line Items] | |||||
Preferred Stock, Shares Authorized | 6,000,000 | ||||
Preferred Stock, Shares Outstanding | 5,800,000 | 5,000,000 | |||
Preferred Stock, Liquidation Preference Per Share (in Dollars per share) | $ 2 | ||||
Preferred Stock, Dividend Rate, Percentage | 8.00% | ||||
Preferred Stock Dividends, Shares | 800,000 | ||||
Preferred Stock, Liquidation Preference, Value (in Dollars) | $ 1,600,000 | ||||
Series D Preferred Stock [Member] | |||||
Stockholders’ deficit (Details) [Line Items] | |||||
Preferred Stock, Shares Authorized | 539,988 | ||||
Preferred Stock, Shares Outstanding | 509,988 | 509,988 | |||
Preferred Stock, Par or Stated Value Per Share (in Dollars per share) | $ 0.001 | $ 0.001 | |||
Preferred Stock, Liquidation Preference Per Share (in Dollars per share) | $ 1 | ||||
Preferred Stock, Conversion Basis | The Series D Preferred Stock is convertible at the option of the holder into shares of common stock at a rate of $0.01 per share of common stock | ||||
Stock Repurchased and Retired During Period, Shares | 60,000 | ||||
Series E Preferred Stock [Member] | |||||
Stockholders’ deficit (Details) [Line Items] | |||||
Preferred Stock, Shares Authorized | 1,000,000 | ||||
Preferred Stock, Shares Outstanding | 1,000,000 | 1,000,000 | |||
Preferred Stock, Par or Stated Value Per Share (in Dollars per share) | $ 0.001 | $ 0.001 | |||
Series F Preferred Stock [Member] | |||||
Stockholders’ deficit (Details) [Line Items] | |||||
Preferred Stock, Shares Authorized | 501,975 | ||||
Preferred Stock, Shares Outstanding | 386,975 | 446,975 | |||
Preferred Stock, Par or Stated Value Per Share (in Dollars per share) | $ 0.001 | $ 0.001 | |||
Preferred Stock, Liquidation Preference Per Share (in Dollars per share) | $ 1 | ||||
Preferred Stock, Conversion Basis | The Series F Preferred Stock is convertible at the option of the holder into shares of common stock at a rate of $0.01 per share of common stock | ||||
Stock Repurchased During Period, Shares | 60,000 | ||||
Convertible Preferred Stock, Shares Issued upon Conversion | 25,000 | ||||
Series B Preferred Stock [Member] | |||||
Stockholders’ deficit (Details) [Line Items] | |||||
Preferred Stock, Shares Authorized | 1,000,000 | ||||
Preferred Stock, Shares Outstanding | 0 | 30,000 | |||
Preferred Stock, Liquidation Preference Per Share (in Dollars per share) | $ 1 | ||||
Preferred Stock, Dividend Rate, Percentage | 8.00% | ||||
Preferred Stock, Redemption Price Per Share (in Dollars per share) | $ 1 | ||||
Conversion of Stock, Shares Issued | 500,000 | ||||
Adjustments to Additional Paid in Capital, Other (in Dollars) | $ 7,250 | ||||
Series C Preferred Stock [Member] | |||||
Stockholders’ deficit (Details) [Line Items] | |||||
Preferred Stock, Shares Authorized | 1,200,000 | ||||
Preferred Stock, Liquidation Preference Per Share (in Dollars per share) | $ 0.50 | ||||
Preferred Stock, Redemption Price Per Share (in Dollars per share) | $ 0.50 | ||||
Preferred Stock, Conversion Basis | The Series C Preferred Stock is convertible at the option of the holder into shares of common stock at a rate of one share of common stock for each share of Series C Preferred Stock |
Income Taxes (Details)
Income Taxes (Details) | 12 Months Ended |
Sep. 30, 2019USD ($) | |
Income Tax Disclosure [Abstract] | |
Operating Loss Carryforwards | $ 2,007,956 |
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Percent | 100.00% |
Income Taxes (Details) - Schedu
Income Taxes (Details) - Schedule of Components of Income Tax Expense (Benefit) | 12 Months Ended |
Sep. 30, 2019USD ($) | |
Schedule of Components of Income Tax Expense (Benefit) [Abstract] | |
Tax benefit at U.S. statutory rate | $ 423,807 |
Valuation allowance | (423,807) |
Tax benefit, net | $ 0 |
Available-for-Sale Securities_2
Available-for-Sale Securities (Details) | 12 Months Ended |
Sep. 30, 2019USD ($) | |
Disclosure Text Block Supplement [Abstract] | |
Other-than-temporary Impairment Loss, Debt Securities, Available-for-sale | $ 10,673 |
Available-for-Sale Securities_3
Available-for-Sale Securities (Details) - Available-for-sale Securities - USD ($) | 12 Months Ended | |
Sep. 30, 2019 | Sep. 30, 2018 | |
Debt Securities, Available-for-sale [Abstract] | ||
Common stock of Biofuels Power Corp. | $ 35,000 | $ 35,000 |
Realized loss on available-for-sale securities | (35,000) | (24,327) |
Unrealized loss on available-for-sale securities | 0 | 971 |
Available-for-sale securities | $ 0 | $ 11,644 |
Subsequent Events (Details)
Subsequent Events (Details) - Subsequent Event [Member] - USD ($) | Dec. 27, 2019 | Dec. 16, 2019 | Dec. 02, 2019 | Oct. 22, 2019 | Oct. 16, 2019 | Oct. 15, 2019 | Oct. 07, 2019 |
Subsequent Events (Details) [Line Items] | |||||||
Stock Repurchased During Period, Shares (in Shares) | 5,800,000 | ||||||
Debt Conversion, Original Debt, Amount | $ 8,000 | $ 12,000 | $ 15,000 | $ 16,100 | $ 16,900 | $ 12,000 | |
Debt Conversion, Converted Instrument, Shares Issued (in Shares) | 5,941,176 | 6,666,667 | 7,894,737 | 8,545,455 | 6,500,000 | 4,285,714 | |
Debt Instrument, Convertible, Conversion Price (in Dollars per share) | $ 0.0017 | $ 0.0018 | $ 0.0019 | $ 0.0022 | $ 0.0026 | $ 0.0028 | |
Accrued Interest [Member] | |||||||
Subsequent Events (Details) [Line Items] | |||||||
Debt Conversion, Original Debt, Amount | $ 2,100 | $ 2,700 |