Cover
Cover - USD ($) | 12 Months Ended | ||
Dec. 31, 2021 | Apr. 14, 2022 | Jun. 30, 2021 | |
Cover [Abstract] | |||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Annual Report | true | ||
Document Transition Report | false | ||
Document Period End Date | Dec. 31, 2021 | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2021 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity File Number | 000-55445 | ||
Entity Registrant Name | DREAM HOMES & DEVELOPMENT CORPORATION | ||
Entity Central Index Key | 0001518336 | ||
Entity Tax Identification Number | 20-2208821 | ||
Entity Incorporation, State or Country Code | NV | ||
Entity Address, Address Line One | 314 South Main Street | ||
Entity Address, City or Town | Forked River | ||
Entity Address, State or Province | NJ | ||
Entity Address, Postal Zip Code | 08731 | ||
City Area Code | (609) | ||
Local Phone Number | 693-8881 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | No | ||
Entity Interactive Data Current | No | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Small Business | true | ||
Entity Emerging Growth Company | false | ||
Entity Shell Company | false | ||
Entity Public Float | $ 0 | ||
Entity Common Stock, Shares Outstanding | 36,074,493 | ||
Auditor Firm ID | 6285 | ||
Auditor Name | Boyle CPA, LLC | ||
Auditor Location | Red Bank, NJ |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Dec. 31, 2021 | Dec. 31, 2020 |
CURRENT ASSETS | ||
Cash | $ 191,439 | $ 51,710 |
Accounts receivable, net of allowance for doubtful accounts ($29,838) | 357,411 | 96,506 |
Employee advances | 2,705 | 2,705 |
Contract assets | 258,645 | 53,467 |
Total current assets | 810,200 | 204,388 |
PROPERTY AND EQUIPMENT, net | 17,300 | 24,056 |
OTHER ASSETS | ||
Loan receivable, related party | 100,356 | |
Accounts receivable, net of allowance for doubtful accounts ($43,000) | 32,000 | 32,000 |
Security deposit | 2,200 | 2,200 |
Deposits and costs coincident to acquisition of land for development | 7,269,054 | 929,338 |
Total assets | 8,130,754 | 1,292,338 |
CURRENT LIABILITIES | ||
Accounts payable and accrued expenses | 342,688 | 234,838 |
Accrued interest | 120,073 | 13,104 |
Deposits held | 16,001 | |
Contract liabilities | 413,541 | 223,238 |
Note payable-line of credit | 925,160 | 250,160 |
Note payable-bank | 158,563 | |
Loans payable-PPP | 82,895 | |
Mortgages payable | 2,969,535 | |
Loans payable to related parties | 192,439 | 3,671 |
Total current liabilities | 5,138,000 | 807,906 |
Long-term mortgages payable | 2,508,000 | |
Total liabilities | 7,646,000 | 807,906 |
STOCKHOLDERS’ EQUITY | ||
Preferred stock; 5,000,000 shares authorized, $.001 par value, as of December 31, 2021 and 2020, there are no shares outstanding | ||
Common stock; 70,000,000 shares authorized, $.001 par value, as of December 31, 2021 and 2020, there are 35,824,493 and 31,664,493 shares outstanding, respectively | 35,824 | 31,664 |
Additional paid-in capital | 2,240,120 | 2,073,480 |
Accumulated deficit | (1,791,190) | (1,620,712) |
Total stockholders’ equity | 484,754 | 484,432 |
Total liabilities and stockholders’ equity | $ 8,130,754 | $ 1,292,338 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) | Dec. 31, 2021 | Dec. 31, 2020 |
Statement of Financial Position [Abstract] | ||
Allowance for doubtful accounts receivable, current | $ 29,838 | $ 29,838 |
Allowance for doubtful accounts receivable, non-current | $ 43,000 | $ 43,000 |
Preferred stock, shares authorized | 5,000,000 | 5,000,000 |
Preferred stock, par value | $ 0.001 | $ 0.001 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, shares authorized | 70,000,000 | 70,000,000 |
Common stock, par value | $ 0.001 | $ 0.001 |
Common stock, shares outstanding | 35,824,493 | 31,664,493 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Revenue: | ||
Construction contracts | $ 3,884,946 | $ 3,014,027 |
Cost of construction contracts | 3,107,176 | 2,172,293 |
Gross profit | 777,770 | 841,734 |
Operating Expenses: | ||
Selling, general and administrative, including stock based compensation of $170,800 and $197,000, respectively | 818,711 | 1,032,419 |
Depreciation expense | 6,756 | 8,445 |
Total operating expenses | 825,467 | 1,040,864 |
Income (loss) from operations | (47,697) | (199,130) |
Other income (expenses): | ||
Interest expense | (122,781) | (25,088) |
Total other income (expenses) | (122,781) | (25,088) |
Net loss before income taxes | (170,478) | (224,218) |
Provision for income taxes | ||
Net loss | $ (170,478) | $ (224,218) |
Basic and diluted loss per common share | $ 0 | $ (0.01) |
Weighted average common shares outstanding-basic and diluted | 34,487,734 | 28,951,465 |
Consolidated Statements of Op_2
Consolidated Statements of Operations (Parenthetical) - USD ($) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Income Statement [Abstract] | ||
Stock based compensation | $ 170,800 | $ 197,000 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Stockholders' Equity - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Balance at Dec. 31, 2019 | $ 25,879 | $ 1,868,504 | $ (1,396,494) | $ 497,889 |
Balance, shares at Dec. 31, 2019 | 25,878,993 | |||
Issuance of restricted common shares for stock-based compensation at per share | $ 2,997 | 116,904 | 119,901 | |
Issuance of restricted common shares for stock-based compensation at per share, shares | 2,997,500 | |||
Issuance of restricted common shares for stock-based compensation at per share | $ 2,600 | 75,400 | 78,000 | |
Issuance of restricted common shares for stock-based compensation at per share, shares | 2,600,000 | |||
Net loss | (224,218) | (224,218) | ||
Issuance of restricted common shares for debt at per share | $ 110 | 7,590 | 7,700 | |
Issuance of restricted common shares for debt at per share | 110,000 | |||
Issuance of 48,000 restricted common shares for debt at $.07 per share | $ 48 | 3,312 | 3,360 | |
Issuance of 48,000 restricted common shares for debt at $.07 per share | 48,000 | |||
Issuance of 30,000 restricted common shares for debt at $.06 per share | $ 30 | 1,770 | 1,800 | |
Issuance of 30,000 restricted common shares for debt at $.06 per shares | 30,000 | |||
Balance at Dec. 31, 2020 | $ 31,664 | 2,073,480 | (1,620,712) | 484,432 |
Balance, shares at Dec. 31, 2020 | 31,664,493 | |||
Issuance of restricted common shares for stock-based compensation at per share | $ 2,830 | 110,370 | 113,200 | |
Issuance of restricted common shares for stock-based compensation at per share, shares | 2,830,000 | |||
Issuance of 280,00 restricted common shares for legal services valued at $ 14,000 | $ 280 | 13,720 | 14,000 | |
Issuance of 280,00 restricted common shares for legal services valued at $ 14,000 shares | 280,000 | |||
Issuance of restricted common shares for stock-based compensation at per share | $ 1,050 | 42,550 | 43,600 | |
Issuance of restricted common shares for stock-based compensation at per share, shares | 1,050,000 | |||
Net loss | (170,478) | (170,478) | ||
Balance at Dec. 31, 2021 | $ 35,824 | $ 2,240,120 | $ (1,791,190) | $ 484,754 |
Balance, shares at Dec. 31, 2021 | 35,824,493 |
Consolidated Statements of Ch_2
Consolidated Statements of Changes in Stockholders' Equity (Parenthetical) | 12 Months Ended |
Dec. 31, 2021USD ($)shares | |
Stock issued during period value issued for services | $ 113,200 |
Stock issued during period value issued for services | 14,000 |
Stock issued during period value share based compensation one | $ 43,600 |
Stock Based Compensation [Member] | |
Issuance of restricted common shares | shares | 2,830,000 |
Stock issued during period value issued for services | $ 113,200 |
Stock issued during period value issued for services | $ 14,000 |
Legal Services [Member] | |
Issuance of restricted common shares | shares | 280 |
Stock Based Compensation 1 [Member] | |
Issuance of restricted common shares | shares | 1,050,000 |
Stock issued during period value share based compensation one | $ 43,600 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
OPERATING ACTIVITIES | ||
Net loss | $ (170,478) | $ (224,218) |
Adjustments to reconcile net income to net cash provided (used) in operating activities: | ||
Depreciation expense | 6,756 | 8,445 |
Stock-based compensation | 170,800 | 197,900 |
Changes in operating assets and liabilities: | ||
Accounts receivable | (260,905) | 314,044 |
Loan receivable, related party | (55,365) | |
Employee advances | (205) | |
Contract assets | (205,178) | 274,777 |
Accounts payable and accrued liabilities | 214,819 | (497,211) |
Deposits held | 16,001 | |
Contract liabilities | 190,303 | (5,423) |
Income taxes payable | (53,174) | |
Net cash used in operating activities | (37,882) | (40,430) |
INVESTING ACTIVITIES | ||
Purchase of office equipment and vehicles | (1,000) | |
Deposits and costs coincident to acquisition of land for development | (761,825) | (323,097) |
Net cash used in investing activities | (761,825) | (324,097) |
FINANCING ACTIVITIES | ||
Proceeds from note payable-line of credit, net | 675,000 | 88,198 |
Proceeds from bank note | 158,563 | |
Proceeds from loans payable to related parties, net | 188,768 | 11,742 |
Proceeds from loans payable-PPP (forgiveness) | (82,895) | 82,895 |
Net cash provided by financing activities | 939,436 | 182,835 |
NET INCREASE (DECREASE) IN CASH | 139,729 | (181,692) |
CASH BALANCE, BEGINNING OF PERIOD | 51,710 | 233,402 |
CASH BALANCE, END OF PERIOD | 191,439 | 51,710 |
Supplemental Disclosures of Cash Flow Information: | ||
Interest paid | ||
Income taxes paid | ||
Non-Cash Investing and Financing Activities: | ||
Issuance of restricted common stock for compensation | 170,800 | 197,000 |
Mortgages payable for acquisition of property held for development | $ 4,963,563 |
Significant Accounting Policies
Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2021 | |
Accounting Policies [Abstract] | |
Significant Accounting Policies | Note 1 - Significant Accounting Policies Nature of Operations Dream Homes & Development Corporation is a regional builder and developer of new single-family homes and subdivisions, as well as a market leader in coastal construction, elevation and mitigation. In the ten years that have passed since Superstorm Sandy flooded 40,000 owner-occupied homes, Dream Homes has helped hundreds of homeowners to rebuild or raise their homes to comply with new FEMA requirements. In addition to the coastal construction market, Dream Homes will continue to pursue opportunities in new single and multi-family home construction, with 4 new developments totaling 267 units in title, or under contract and in development. Dream Homes’ operations will include the development and sale of a variety of residential communities, including construction of semi-custom homes, entry-level and first time move-up single-family and multi-family homes. A new trend in the real estate market which has experienced significant growth in the last year is the emerging Build To Lease trend. This focus and concentration on building both single and multi-family developments with the intention to lease them immediately upon completion is being made in response to several factors. One factor is the extreme shortage of rental properties on the market, not only for first time homemakers, but for retirees, and young professionals who are unclear as to the intentions of settling in one location. The second factor is the overall lender and funding source preference to lend to Build To Lease developments, as opposed to more traditional Build To Sell developments due to the perception of Build To Lease as a safer investment over the long term. Finally, the extraordinary amount of interest from non-traditional sources such as pension and hedge funds, insurance companies and venture capital firms to purchase completed new For Lease developments at attractive metrics based on capitalization rates has spurred a large growth in this market segment. The Company has made the decision to change focus in their new home developments to better accommodate this growing trend. Currently all new multi-family developments located in Ocean County, which represent a total count of 155 units, will be changed from Build For Sale to Build for Lease. The Company now intends to hold these properties upon completion and lease-up for an indeterminate period of time, and realize the rental income from ownership. This strategy will become a very significant revenue stream for the Company and will become a third division of the Company, behind custom new homes and renovation/elevation projects. History Dream Homes & Development Corporation was originally incorporated as The Virtual Learning Company, Inc. (“Virtual Learning”) on January 6, 2009 as a Nevada corporation with 75,000,000 70,000,000 .001 5,000,000 .001 On March 14, 2017, Virtual Learning changed its name to Dream Homes & Development Corporation (“DHDC”). DHDC maintains a web site at www.dreamhomesltd.com http://blog.dreamhomesltd.com. Principles of Consolidation The consolidated financial statements include the accounts of DHDC and its wholly owned subsidiaries (collectively, the “Company”). All intercompany balances and transactions have been eliminated in consolidation. Property and Equipment Property and equipment is stated at cost less accumulated depreciation. Depreciation is provided using the straight-line method over an estimated useful life of five years Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the amounts reported and disclosed in the financial statements and the accompanying notes. Actual results could differ materially from these estimates. Fair Value of Financial Instruments Fair value is defined as the price that we would receive to sell an asset or pay to transfer a liability (an exit price) in an orderly transaction between market participants on the measurement date. In determining fair value, GAAP establishes a three-level hierarchy used in measuring fair value, as follows: ● Level 1 inputs are quoted prices available for identical assets and liabilities in active markets. ● Level 2 inputs are observable for the asset or liability, either directly or indirectly, including quoted prices for similar assets and liabilities in active markets or other inputs that are observable or can be corroborated by observable market data. ● Level 3 inputs are less observable and reflect our own assumptions. Our financial instruments consist of cash and cash equivalents, accounts receivable, accounts payable and accrued expenses and loans payable to related parties. The carrying amount of cash and cash equivalents, accounts receivable, accounts payable and accrued expenses, and loans payable to related parties approximates fair value because of their short maturities. Construction Contracts Revenue recognition: The Company recognizes construction contract revenue using the percentage-of-completion method, based primarily on contract cost incurred to date compared to total estimated contract cost. Cost of revenue includes an allocation of depreciation, amortization and general overhead cost. Changes to total estimated contract cost or losses, if any, are recognized in the period in which they are determined. The Company generally provides limited warranties for work performed under its construction contracts with periods typically extending for a limited duration following substantial completion of the Company’s work on a project. The Company classifies construction-related receivables and payables that may be settled in periods exceeding one year from the balance sheet date, if any, as current assets and liabilities consistent with the length of time of its project operating cycle. For example: ● Costs and estimated earnings in excess of billings represent the excess of contract costs and profits (or contract revenue) over the amount of contract billings to date and are classified as a current asset. ● Billings in excess of costs and estimated earnings represent the excess of contract billings to date over the amount of contract costs and profits (or contract revenue) recognized to date and are classified as a current liability. Costs and estimated earnings in excess of billings result when either: 1) costs are incurred related to certain claims and unapproved change orders, or 2) the appropriate contract revenue amount has been recognized in accordance with the percentage-of-completion accounting method, but a portion of the revenue recorded cannot be billed currently due to the billing terms defined in the contract. Claims occur when there is a dispute regarding both a change in the scope of work and the price associated with that change. Unapproved change orders occur when there is a dispute regarding only the price associated with a change in scope of work. For both claims and unapproved change orders, the Company recognizes revenue, but not profit, when it is determined that recovery of incurred cost is probable and the amounts can be reliably estimated. Change in Estimates: The Company’s estimates of contract revenue and cost are highly detailed and many factors change during a contract performance period that result in a change to contract profitability. These factors include, but are not limited to, differing site conditions: availability of skilled contract labor: performance of major material suppliers and subcontractors: on-going subcontractor negotiations and buyout provisions: unusual weather conditions: changes in the timing of scheduled work: change orders: accuracy of the original bid estimate: changes in estimated labor productivity and costs based on experience to date: achievement of incentive-based income targets: and the expected, or actual, resolution terms for claims. The factors that cause changes in estimates vary depending on the maturation of the project within its lifecycle. For example, in the ramp-up phase, these factors typically consist of revisions in anticipated project costs and during the peak and close-out phases, these factors include the impact of change orders and claims as well as additional revisions in remaining anticipated project costs. Generally, if the contract is at an early stage of completion, the current period impact is smaller than if the same change in estimate is made to the contract at a later stage of completion. Management focuses on evaluating the performance of contracts individually and uses the cumulative catch-up method to account for revisions in estimates. Material changes in estimates are disclosed in the notes to the consolidated financial statements. Income Taxes The Company accounts for income taxes using the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax reporting purposes. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the provision for income tax in the statements of operations. The Company evaluates the probability of realizing the future benefits of its deferred tax assets and provides a valuation allowance when realization of the assets is not reasonably assured. The Company recognizes in its financial statements the impact of tax positions that meet a “more likely than not” threshold, based on the technical merits of the position. The tax benefits recognized from such a position are measured based on the largest benefit that has a greater than fifty percent likelihood of being realized upon ultimate settlement. Net Income (Loss) Per Common Share Basic net income (basic net loss) per common share is calculated by dividing net income (loss) by the weighted average number of common shares outstanding during the period. Diluted net income (loss) per common share is computed using the weighted average number of common shares outstanding and potentially dilutive securities outstanding during the period. Recent Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers (Accounting Standards Codification “ASC” Topic 606). The purpose of this ASU is to converge revenue recognition requirements per GAAP and International Financial Reporting Standards (“IFRS”). The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The amendments in this ASU were originally effective for interim and annual reporting periods beginning after December 15, 2016, with early adoption not permitted by the FASB; however, in August 2015, the FASB issued ASU 2015-14, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date after public comment respondents supported a proposal to delay the effective date of this ASU to annual reporting periods beginning after December 15, 2017, including interim reporting periods within that reporting period. We adopted this ASU on January 1, 2018 and adoption of this ASU did not have a material impact on our financial position, results of operations and cash flows. In February 2016, the FASB issued ASU No. 2016-02, “ Leases (Topic 842) Certain other accounting pronouncements have been issued by the FASB and other standard setting organizations which are not yet effective and therefore have not yet been adopted by the Company. The impact on the Company’s financial position and results of operations from adoption of these standards is not expected to be material. |
Property and Equipment
Property and Equipment | 12 Months Ended |
Dec. 31, 2021 | |
Property, Plant and Equipment [Abstract] | |
Property and Equipment | 2 - Property and Equipment Property and equipment is summarized as follows: Schedule of Property and Equipment December 31, 2021 December 31, 2020 Office equipment $ 5,115 $ 5,115 Vehicles/Modular homes 58,065 58,065 Less: Accumulated depreciation (45,880 ) (39,124 ) Property and Equipment- net $ 17,300 $ 24,056 Depreciation expense for the years ended December 31, 2021 and 2020 was $ 6,756 8,445 |
Deposits and Costs Coincident t
Deposits and Costs Coincident to Acquisition of Land for Development | 12 Months Ended |
Dec. 31, 2021 | |
Real Estate [Abstract] | |
Deposits and Costs Coincident to Acquisition of Land for Development | 3- Deposits and Costs Coincident to Acquisition of Land for Development Deposits and costs coincident to acquisition of land for development are summarized as follows: Schedule of Deposits and Costs Coincident to Acquisition of Land for Development December 31, 2021 December 31, 2020 Lacey Township, New Jersey, Pines contract: Cost to acquire contract 1,115,577 10,000 Site engineering, permits, and other costs 364,066 156,833 Total Pines contract 1,479,643 166,833 Berkeley Township, New Jersey, Tallwoods contract: Deposit 10,000 10,000 Site engineering, permits, and other costs 90,146 60,146 Total Tallwoods contract 100,146 70,146 Other deposits: Clayton, New Jersey - 112 apartments 2,457,085 136,169 Louis Avenue, Bayville, New Jersey-17 units 408,271 86,271 Berkeley Terrace – Bayville, New Jersey 70 units 2,506,990 153,000 Station Dr – Forked River, New Jersey 99,032 99,032 201 East Ave – Clayton, New Jersey – 63 units 112,491 112,491 Academy St – Clayton, New Jersey – 2 lots 36,133 36,133 Other 69,263 69,263 Total other deposits 5,689,265 692,359 Total $ 7,269,054 $ 929,338 Properties currently owned and in the development stage Berkeley Terrace – Bayville, NJ – 70 approved townhome units A contract was signed to acquire 70 The Company is preparing to begin infrastructure work on the property, and start a prelease program. Lacey Township, New Jersey, “Dream Homes at the Pines” Dream Homes is in contract and under development for a parcel which will yield 68 new townhomes in the Ocean County NJ area, of which 54 are market rate and 14 are affordable housing. The acquisition of the contract was made for common stock and occurred in the 4th quarter of 2016. This property is currently in the approval process. This development project is scheduled to begin in late 2022 and will accrete to 2023 sales. All costs associated with this property necessary to obtain all approvals, acquire the land, install the infrastructure and prepare the property to commence construction are the Company’s responsibility. In order to obtain all developmental approvals and be prepared to begin installing infrastructure, various permits and engineering work are required. These permits include but are not limited to township subdivision, county, municipal utility authority, CAFRA (NJ Department of Environmental Protection) and NJ Department of Transportation. To date, design engineering has been completed and a CAFRA application has been prepared and submitted to the environmental scientist, and the NJ DEP has issued the CAFRA permit. Application for this permit was made in April 2017. A Lacey Township Planning Board meeting was held on December 11, 2017. Additional information was requested from the board and the next meeting was heard for preliminary and final approval on April 19 th It is anticipated that complete development approvals will cost approximately $ 20,000 1,000,000 1,900,000 The Company may need to seek loans from banks to finance this project. As part of their financing agreements, the banks typically require Vincent Simonelli to personally guarantee these loans. If Mr. Simonelli cannot qualify as a guarantor and there is no one other than him in the Corporation to provide those guarantees, the financing of the deal may be adversely affected. The exact amount of funding required for this particular property is not clear at the present time but will be determined when full approvals have been obtained and the Company is prepared to take title to the property. The closing to acquire this property occurred on June 29, 2021 and the Company is currently in title. Clayton NJ – 112 Apartments On May 3, 2018, the Company submitted a signed letter of intent to purchase 5.5 On February 26, 2021, the Company took title to the property via an assemblage of 3 parcels. The Company successfully obtained Redevelopment Approval from the Borough in July 2021 and Preliminary and Final Site Plan approval in December of 2021. Louis Avenue – Bayville, NJ – In title In October of 2018, the company entered into a contract to develop and acquire 17 townhouse lots in Bayville NJ. Engineering and approvals are currently in process. Application was made to the Planning Board on March 20, 2020. The project was deemed complete by the township engineer. Municipal scheduling has been delayed due to the Covid-19 virus. The Company was heard before the Berkeley Township Planning Board on October 3, 2020 and the planning board awarded preliminary approvals for 17 townhome units. Application is currently being made for final approvals, and the Company is scheduled to be heard at the May 2022 planning board meeting. The Company acquired this property on August 4, 2021. Properties Under Contract to Purchase and in the Approval Stage Autumn Run – Gloucester County On December 7, 2018, the Company signed a contract to purchase a property in Gloucester County, NJ, which will be approved for +/- 63 units of age-restricted manufactured housing. The property is currently in the approval stage. An application was made to the DEP for a wetlands letter of interpretation, which was approved as proposed. Further action before the planning board is pending due to delays caused by township closures due to Covid-19. The Company had a virtual workshop meeting on September 15, 2020 and an additional virtual meeting was conducted on November 17, 2020. The application for a use variance was heard on May 24, 2021 and the variance was approved. The Company is in the process of applying for preliminary and final site plan approval and should be heard at the May 2022 meeting. Properties on hold due to delay in approvals, environmental concerns or other reasons Berkeley Township, New Jersey, “Dream Homes at Tallwoods”, Contract On March 1, 2017, the Company acquired from DHL rights to a contract to purchase over 7 71,429 Since the transaction had not occurred for at least a portion of the Property within 12 months of the completion of the Due Diligence Period, as well as two 6-month extensions, the seller chose to terminate the contract. The Company retained the right to waive any remaining development contingencies and proceed to close on the property. Mortgages on Properties Held for Development: Schedule Mortgages on Properties Held for Development December 31, 2021 December 31, 2020 Edisto Loan Fund, LLC $ 2,969,535 $ - Lynx Asset Services, LLC 1,725,000 - AC Development, LLC 450,000 - AVB Development 333,000 - Total mortgages payable 5,477,535 - Less current portion (2,969,535 ) - Long-term portion $ 2,508,000 $ - |
Loans Payable to Related Partie
Loans Payable to Related Parties | 12 Months Ended |
Dec. 31, 2021 | |
Loans Payable To Related Parties | |
Loans Payable to Related Parties | 4- Loans Payable to Related Parties Loans payable to related parties is summarized as follows: Schedule of Loans Payable to Related Parties December 31, 2021 December 31, 2020 Loans payable to chief executive officer $ - $ 3,671 Loans payable to GPIL 192,439 - Total $ 192,439 $ 3,671 Advances from the loans bear interest at a rate of 12 17,100 |
Common Stock Issuances
Common Stock Issuances | 12 Months Ended |
Dec. 31, 2021 | |
Equity [Abstract] | |
Common Stock Issuances | 5 - Common Stock Issuances On May 9, 2019, the Company issued 58,000 .10 On June 6, 2019, the Company issued 520,000 .10 On June 6, 2019, the Company issued 1,000,000 .10 On June 6, 2019, the Company issued 100,000 .10 In March 2020, the Company issued 2,997,500 119,500 On September 25, 2020, the Company issued 110,000 7,700 On September 30, 2020, the Company issued 2,600,000 78,000 On October 28, 2020, the Company issued 48,000 3,360 On November 10, 2020, the Company issued 30,000 1,800 On February 11, 2021, the Company issued 2,830,000 113,200 On July 13, 2021, the Company issued 28,000 14,000 On October 22, 2021, the Company issued 500,000 21,000 On October 28, 2020, the Company issued 550.000 22,600 |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2021 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | 6 – Income Taxes As a result of the Tax Cuts and Jobs Act (Tax Legislation) enacted on December 22, 2017, the United States corporate income tax rate is 21 The sources of the differences follow: Schedule of States Federal Income Tax Rate Income Loss Before Income Taxes Year ended Year ended Expected tax at 21 $ (35,800 ) $ (47,086 ) State income taxes, net of federal income tax benefit (15,343 ) (20,180 ) Non-deductible stock-based compensation 35,868 41,559 Other - Change in valuation allowance/NOL carryforward 15,275 25,707 Provision for (benefit from) income taxes $ - $ - |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2021 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | 7- Commitments and Contingencies Construction Contracts As of December 31, 2021, the Company was committed under 17 6,024,890 Employment Agreements On May 8, 2017, DHDC executed an Employment Agreement with a Sales Manager. The original term of the agreement was from May 8, 2017 to May 8, 2019 and was renewable thereafter at 1 Lease Agreements The Company has occupied office space located in Forked River, New Jersey. Commencing April 2017, the Company originally paid monthly rent of $ 2,000 2,500 On February 28, 2020 the Company executed a lease for an office space located at 800 Riverview Drive in Brielle, which the Company feels will better serve the southern Monmouth clientele. The lease term is 2 25,140 Line of Credit On September 15, 2016, DHDC established a $ 500,000 500,000 1,000,000 12 The outstanding principal is due and payable in 60 months. 925,100 |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2021 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | 8. Related Party Transactions Dream Homes Ltd. Allocated payroll The Company uses the services of Dream Homes Ltd. (DHL) personnel for its operations. For the years ended December 31, 2021 and 2020, selling, general and administrative expenses include $ 144,300 138,050.00 80,600 75,400.00 63,700.00 62,650.00 |
Stock Warrants
Stock Warrants | 12 Months Ended |
Dec. 31, 2021 | |
Stock Warrants | |
Stock Warrants | 9 - Stock Warrants Effective April 1, 2019, any previous warrants issued by the Company were cancelled. |
Subsequent Events
Subsequent Events | 12 Months Ended |
Dec. 31, 2021 | |
Subsequent Events [Abstract] | |
Subsequent Events | 10 – Subsequent Events On April 4, 2022, the Company issued 250,000 The Company obtained preliminary and final site plan approval for the Clayton apartment property, which occurred on 1/24/22. These approvals authorize the construction of 112 7000 A Department of Transportation major access permit as well as Clayton Municipal Utility Approvals on this property have been applied for. In January 2022, the Company signed a contract for an additional 45 |
Significant Accounting Polici_2
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2021 | |
Accounting Policies [Abstract] | |
Nature of Operations | Nature of Operations Dream Homes & Development Corporation is a regional builder and developer of new single-family homes and subdivisions, as well as a market leader in coastal construction, elevation and mitigation. In the ten years that have passed since Superstorm Sandy flooded 40,000 owner-occupied homes, Dream Homes has helped hundreds of homeowners to rebuild or raise their homes to comply with new FEMA requirements. In addition to the coastal construction market, Dream Homes will continue to pursue opportunities in new single and multi-family home construction, with 4 new developments totaling 267 units in title, or under contract and in development. Dream Homes’ operations will include the development and sale of a variety of residential communities, including construction of semi-custom homes, entry-level and first time move-up single-family and multi-family homes. A new trend in the real estate market which has experienced significant growth in the last year is the emerging Build To Lease trend. This focus and concentration on building both single and multi-family developments with the intention to lease them immediately upon completion is being made in response to several factors. One factor is the extreme shortage of rental properties on the market, not only for first time homemakers, but for retirees, and young professionals who are unclear as to the intentions of settling in one location. The second factor is the overall lender and funding source preference to lend to Build To Lease developments, as opposed to more traditional Build To Sell developments due to the perception of Build To Lease as a safer investment over the long term. Finally, the extraordinary amount of interest from non-traditional sources such as pension and hedge funds, insurance companies and venture capital firms to purchase completed new For Lease developments at attractive metrics based on capitalization rates has spurred a large growth in this market segment. The Company has made the decision to change focus in their new home developments to better accommodate this growing trend. Currently all new multi-family developments located in Ocean County, which represent a total count of 155 units, will be changed from Build For Sale to Build for Lease. The Company now intends to hold these properties upon completion and lease-up for an indeterminate period of time, and realize the rental income from ownership. This strategy will become a very significant revenue stream for the Company and will become a third division of the Company, behind custom new homes and renovation/elevation projects. History Dream Homes & Development Corporation was originally incorporated as The Virtual Learning Company, Inc. (“Virtual Learning”) on January 6, 2009 as a Nevada corporation with 75,000,000 70,000,000 .001 5,000,000 .001 On March 14, 2017, Virtual Learning changed its name to Dream Homes & Development Corporation (“DHDC”). DHDC maintains a web site at www.dreamhomesltd.com http://blog.dreamhomesltd.com. |
Principles of Consolidation | Principles of Consolidation The consolidated financial statements include the accounts of DHDC and its wholly owned subsidiaries (collectively, the “Company”). All intercompany balances and transactions have been eliminated in consolidation. |
Property and Equipment | Property and Equipment Property and equipment is stated at cost less accumulated depreciation. Depreciation is provided using the straight-line method over an estimated useful life of five years |
Use of Estimates | Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the amounts reported and disclosed in the financial statements and the accompanying notes. Actual results could differ materially from these estimates. |
Fair Value of Financial Instruments | Fair Value of Financial Instruments Fair value is defined as the price that we would receive to sell an asset or pay to transfer a liability (an exit price) in an orderly transaction between market participants on the measurement date. In determining fair value, GAAP establishes a three-level hierarchy used in measuring fair value, as follows: ● Level 1 inputs are quoted prices available for identical assets and liabilities in active markets. ● Level 2 inputs are observable for the asset or liability, either directly or indirectly, including quoted prices for similar assets and liabilities in active markets or other inputs that are observable or can be corroborated by observable market data. ● Level 3 inputs are less observable and reflect our own assumptions. Our financial instruments consist of cash and cash equivalents, accounts receivable, accounts payable and accrued expenses and loans payable to related parties. The carrying amount of cash and cash equivalents, accounts receivable, accounts payable and accrued expenses, and loans payable to related parties approximates fair value because of their short maturities. |
Construction Contracts | Construction Contracts Revenue recognition: The Company recognizes construction contract revenue using the percentage-of-completion method, based primarily on contract cost incurred to date compared to total estimated contract cost. Cost of revenue includes an allocation of depreciation, amortization and general overhead cost. Changes to total estimated contract cost or losses, if any, are recognized in the period in which they are determined. The Company generally provides limited warranties for work performed under its construction contracts with periods typically extending for a limited duration following substantial completion of the Company’s work on a project. The Company classifies construction-related receivables and payables that may be settled in periods exceeding one year from the balance sheet date, if any, as current assets and liabilities consistent with the length of time of its project operating cycle. For example: ● Costs and estimated earnings in excess of billings represent the excess of contract costs and profits (or contract revenue) over the amount of contract billings to date and are classified as a current asset. ● Billings in excess of costs and estimated earnings represent the excess of contract billings to date over the amount of contract costs and profits (or contract revenue) recognized to date and are classified as a current liability. Costs and estimated earnings in excess of billings result when either: 1) costs are incurred related to certain claims and unapproved change orders, or 2) the appropriate contract revenue amount has been recognized in accordance with the percentage-of-completion accounting method, but a portion of the revenue recorded cannot be billed currently due to the billing terms defined in the contract. Claims occur when there is a dispute regarding both a change in the scope of work and the price associated with that change. Unapproved change orders occur when there is a dispute regarding only the price associated with a change in scope of work. For both claims and unapproved change orders, the Company recognizes revenue, but not profit, when it is determined that recovery of incurred cost is probable and the amounts can be reliably estimated. Change in Estimates: The Company’s estimates of contract revenue and cost are highly detailed and many factors change during a contract performance period that result in a change to contract profitability. These factors include, but are not limited to, differing site conditions: availability of skilled contract labor: performance of major material suppliers and subcontractors: on-going subcontractor negotiations and buyout provisions: unusual weather conditions: changes in the timing of scheduled work: change orders: accuracy of the original bid estimate: changes in estimated labor productivity and costs based on experience to date: achievement of incentive-based income targets: and the expected, or actual, resolution terms for claims. The factors that cause changes in estimates vary depending on the maturation of the project within its lifecycle. For example, in the ramp-up phase, these factors typically consist of revisions in anticipated project costs and during the peak and close-out phases, these factors include the impact of change orders and claims as well as additional revisions in remaining anticipated project costs. Generally, if the contract is at an early stage of completion, the current period impact is smaller than if the same change in estimate is made to the contract at a later stage of completion. Management focuses on evaluating the performance of contracts individually and uses the cumulative catch-up method to account for revisions in estimates. Material changes in estimates are disclosed in the notes to the consolidated financial statements. |
Income Taxes | Income Taxes The Company accounts for income taxes using the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax reporting purposes. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the provision for income tax in the statements of operations. The Company evaluates the probability of realizing the future benefits of its deferred tax assets and provides a valuation allowance when realization of the assets is not reasonably assured. The Company recognizes in its financial statements the impact of tax positions that meet a “more likely than not” threshold, based on the technical merits of the position. The tax benefits recognized from such a position are measured based on the largest benefit that has a greater than fifty percent likelihood of being realized upon ultimate settlement. |
Net Income (Loss) Per Common Share | Net Income (Loss) Per Common Share Basic net income (basic net loss) per common share is calculated by dividing net income (loss) by the weighted average number of common shares outstanding during the period. Diluted net income (loss) per common share is computed using the weighted average number of common shares outstanding and potentially dilutive securities outstanding during the period. |
Recent Accounting Pronouncements | Recent Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers (Accounting Standards Codification “ASC” Topic 606). The purpose of this ASU is to converge revenue recognition requirements per GAAP and International Financial Reporting Standards (“IFRS”). The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The amendments in this ASU were originally effective for interim and annual reporting periods beginning after December 15, 2016, with early adoption not permitted by the FASB; however, in August 2015, the FASB issued ASU 2015-14, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date after public comment respondents supported a proposal to delay the effective date of this ASU to annual reporting periods beginning after December 15, 2017, including interim reporting periods within that reporting period. We adopted this ASU on January 1, 2018 and adoption of this ASU did not have a material impact on our financial position, results of operations and cash flows. In February 2016, the FASB issued ASU No. 2016-02, “ Leases (Topic 842) Certain other accounting pronouncements have been issued by the FASB and other standard setting organizations which are not yet effective and therefore have not yet been adopted by the Company. The impact on the Company’s financial position and results of operations from adoption of these standards is not expected to be material. |
Property and Equipment (Tables)
Property and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Property, Plant and Equipment [Abstract] | |
Schedule of Property and Equipment | Property and equipment is summarized as follows: Schedule of Property and Equipment December 31, 2021 December 31, 2020 Office equipment $ 5,115 $ 5,115 Vehicles/Modular homes 58,065 58,065 Less: Accumulated depreciation (45,880 ) (39,124 ) Property and Equipment- net $ 17,300 $ 24,056 |
Deposits and Costs Coincident_2
Deposits and Costs Coincident to Acquisition of Land for Development (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Real Estate [Abstract] | |
Schedule of Deposits and Costs Coincident to Acquisition of Land for Development | Deposits and costs coincident to acquisition of land for development are summarized as follows: Schedule of Deposits and Costs Coincident to Acquisition of Land for Development December 31, 2021 December 31, 2020 Lacey Township, New Jersey, Pines contract: Cost to acquire contract 1,115,577 10,000 Site engineering, permits, and other costs 364,066 156,833 Total Pines contract 1,479,643 166,833 Berkeley Township, New Jersey, Tallwoods contract: Deposit 10,000 10,000 Site engineering, permits, and other costs 90,146 60,146 Total Tallwoods contract 100,146 70,146 Other deposits: Clayton, New Jersey - 112 apartments 2,457,085 136,169 Louis Avenue, Bayville, New Jersey-17 units 408,271 86,271 Berkeley Terrace – Bayville, New Jersey 70 units 2,506,990 153,000 Station Dr – Forked River, New Jersey 99,032 99,032 201 East Ave – Clayton, New Jersey – 63 units 112,491 112,491 Academy St – Clayton, New Jersey – 2 lots 36,133 36,133 Other 69,263 69,263 Total other deposits 5,689,265 692,359 Total $ 7,269,054 $ 929,338 |
Schedule Mortgages on Properties Held for Development | Mortgages on Properties Held for Development: Schedule Mortgages on Properties Held for Development December 31, 2021 December 31, 2020 Edisto Loan Fund, LLC $ 2,969,535 $ - Lynx Asset Services, LLC 1,725,000 - AC Development, LLC 450,000 - AVB Development 333,000 - Total mortgages payable 5,477,535 - Less current portion (2,969,535 ) - Long-term portion $ 2,508,000 $ - |
Loans Payable to Related Part_2
Loans Payable to Related Parties (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Loans Payable To Related Parties | |
Schedule of Loans Payable to Related Parties | Loans payable to related parties is summarized as follows: Schedule of Loans Payable to Related Parties December 31, 2021 December 31, 2020 Loans payable to chief executive officer $ - $ 3,671 Loans payable to GPIL 192,439 - Total $ 192,439 $ 3,671 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Income Tax Disclosure [Abstract] | |
Schedule of States Federal Income Tax Rate Income Loss Before Income Taxes | The sources of the differences follow: Schedule of States Federal Income Tax Rate Income Loss Before Income Taxes Year ended Year ended Expected tax at 21 $ (35,800 ) $ (47,086 ) State income taxes, net of federal income tax benefit (15,343 ) (20,180 ) Non-deductible stock-based compensation 35,868 41,559 Other - Change in valuation allowance/NOL carryforward 15,275 25,707 Provision for (benefit from) income taxes $ - $ - |
Significant Accounting Polici_3
Significant Accounting Policies (Details Narrative) - $ / shares | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Jan. 06, 2009 | |
Accounting Policies [Abstract] | |||
Capital stock authorized | 75,000,000 | ||
Common stock, shares authorized | 70,000,000 | 70,000,000 | 70,000,000 |
Common stock, par value | $ 0.001 | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized | 5,000,000 | 5,000,000 | 5,000,000 |
Preferred stock, par value | $ 0.001 | $ 0.001 | $ 0.001 |
Property and equipment estimated useful life | 5 years |
Schedule of Property and Equipm
Schedule of Property and Equipment (Details) - USD ($) | Dec. 31, 2021 | Dec. 31, 2020 |
Property, Plant and Equipment [Line Items] | ||
Less: Accumulated depreciation | $ (45,880) | $ (39,124) |
Property and Equipment- net | 17,300 | 24,056 |
Office Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | 5,115 | 5,115 |
Vehicles/Modular Homes [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | $ 58,065 | $ 58,065 |
Property and Equipment (Details
Property and Equipment (Details Narrative) - USD ($) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Property, Plant and Equipment [Abstract] | ||
Depreciation expense | $ 6,756 | $ 8,445 |
Schedule of Deposits and Costs
Schedule of Deposits and Costs Coincident to Acquisition of Land for Development (Details) - USD ($) | Dec. 31, 2021 | Dec. 31, 2020 |
Restructuring Cost and Reserve [Line Items] | ||
Total | $ 7,269,054 | $ 929,338 |
Total other deposits | 5,689,265 | 692,359 |
Lacey Township, New Jersey, Pines Contract [Member] | ||
Restructuring Cost and Reserve [Line Items] | ||
Cost to acquire contract | 1,115,577 | 10,000 |
Site engineering, permits, and other costs | 364,066 | 156,833 |
Total | 1,479,643 | 166,833 |
Berkeley Township, New Jersey, Tallwoods Contract [Member] | ||
Restructuring Cost and Reserve [Line Items] | ||
Site engineering, permits, and other costs | 90,146 | 60,146 |
Total | 100,146 | 70,146 |
Deposit | 10,000 | 10,000 |
Clayton, New Jersey - 112 Apartments [Member] | ||
Restructuring Cost and Reserve [Line Items] | ||
Total other deposits | 2,457,085 | 136,169 |
Louis Avenue, Bayville, New Jersey-17 Units [Member] | ||
Restructuring Cost and Reserve [Line Items] | ||
Total other deposits | 408,271 | 86,271 |
Berkeley Terrace - Bayville, New Jersey 70 Units [Member] | ||
Restructuring Cost and Reserve [Line Items] | ||
Total other deposits | 2,506,990 | 153,000 |
Station Dr Forked River New Jersey [Member] | ||
Restructuring Cost and Reserve [Line Items] | ||
Total other deposits | 99,032 | 99,032 |
201 East Ave - Clayton, New Jersey - 63 Units [Member] | ||
Restructuring Cost and Reserve [Line Items] | ||
Total other deposits | 112,491 | 112,491 |
Academy St - Clayton, New Jersey - 2 lots [Member] | ||
Restructuring Cost and Reserve [Line Items] | ||
Total other deposits | 36,133 | 36,133 |
Other [Member] | ||
Restructuring Cost and Reserve [Line Items] | ||
Total other deposits | $ 69,263 | $ 69,263 |
Schedule Mortgages on Propertie
Schedule Mortgages on Properties Held for Development (Details) - USD ($) | Dec. 31, 2021 | Dec. 31, 2020 |
Defined Benefit Plan Disclosure [Line Items] | ||
Total mortgages payable | $ 5,477,535 | |
Less current portion | (2,969,535) | |
Long-term portion | 2,508,000 | |
Edisto Loan Fund, LLC [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total mortgages payable | 2,969,535 | |
Lynx Asset Services, LLC [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total mortgages payable | 1,725,000 | |
AC Development, LLC [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total mortgages payable | 450,000 | |
AVB Development [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total mortgages payable | $ 333,000 |
Deposits and Costs Coincident_3
Deposits and Costs Coincident to Acquisition of Land for Development (Details Narrative) | Mar. 01, 2017ashares | Oct. 31, 2019Integer | Dec. 31, 2021USD ($) | May 03, 2018a |
Dream Homes Ltd. (DHL) [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Purchase of undeveloped land | a | 7 | |||
Number of restricted stock issued during period | shares | 71,429 | |||
Dream Homes Ltd. (DHL) [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Development approval costs | $ 20,000 | |||
Infrastructure costs | 1,000,000 | |||
Aggregate amount funding for home construction | $ 1,900,000 | |||
Dream Homes Apartments [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Purchase of undeveloped land | a | 5.5 | |||
Townhouse Lots in Bayville NJ [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Number of properties acquired | Integer | 70 |
Schedule of Loans Payable to Re
Schedule of Loans Payable to Related Parties (Details) - USD ($) | Dec. 31, 2021 | Dec. 31, 2020 |
Defined Benefit Plan Disclosure [Line Items] | ||
Total | $ 192,439 | $ 3,671 |
Loans Payable to Chief Executive Officer [Member] | Loans Payable [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total | 3,671 | |
Loans Payable to GPIL [Member] | Loans Payable [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total | $ 192,439 |
Loans Payable to Related Part_3
Loans Payable to Related Parties (Details Narrative) | 12 Months Ended |
Dec. 31, 2021USD ($) | |
Loans Payable To Related Parties | |
Interest rate | 12.00% |
Accrued interest | $ 17,100 |
Common Stock Issuances (Details
Common Stock Issuances (Details Narrative) - USD ($) | Oct. 22, 2021 | Jul. 13, 2021 | Feb. 11, 2021 | Nov. 10, 2020 | Oct. 28, 2020 | Sep. 30, 2020 | Sep. 25, 2020 | Jun. 06, 2019 | May 09, 2019 | Mar. 31, 2020 | Dec. 31, 2021 | Dec. 31, 2020 |
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | ||||||||||||
Number of shares issued for stock based compensation, value | $ 113,200 | $ 119,901 | ||||||||||
Restricted Stock [Member] | ||||||||||||
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | ||||||||||||
Number of shares issued for stock based compensation, shares | 500,000 | 28,000 | 2,830,000 | 30,000 | 48,000 | 2,600,000 | 2,997,500 | |||||
Number of shares issued for debt reductions, shares | 110,000 | |||||||||||
Number of shares issued for stock based compensation, value | $ 21,000 | $ 14,000 | $ 113,200 | $ 1,800 | $ 3,360 | $ 78,000 | $ 119,500 | |||||
Number of shares issued for debt reductions, values | $ 7,700 | |||||||||||
Number of restricted shares issued for stock based compensation, shares | 550 | |||||||||||
Number of restricted shares issued for stock based compensation, value | $ 22,600 | |||||||||||
Restricted Stock [Member] | Reductions of Note Payable [Member] | ||||||||||||
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | ||||||||||||
Share issued, price per share | $ 0.10 | |||||||||||
Number of shares issued for debt reductions, shares | 100,000 | |||||||||||
Two Individuals [Member] | Restricted Stock [Member] | ||||||||||||
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | ||||||||||||
Number of shares issued for services, shares | 58,000 | |||||||||||
Share issued, price per share | $ 0.10 | |||||||||||
Six Individuals [Member] | Restricted Stock [Member] | ||||||||||||
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | ||||||||||||
Share issued, price per share | $ 0.10 | |||||||||||
Number of shares issued for stock based compensation, shares | 520,000 | |||||||||||
Chief Executive Officer [Member] | Restricted Stock [Member] | ||||||||||||
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | ||||||||||||
Share issued, price per share | $ 0.10 | |||||||||||
Number of shares issued for debt reductions, shares | 1,000,000 |
Schedule of States Federal Inco
Schedule of States Federal Income Tax Rate Income Loss Before Income Taxes (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Income Tax Disclosure [Abstract] | ||
Expected tax at 21% | $ (35,800) | $ (47,086) |
State income taxes, net of federal income tax benefit | (15,343) | (20,180) |
Non-deductible stock-based compensation | 35,868 | 41,559 |
Other | ||
Change in valuation allowance/NOL carryforward | 15,275 | 25,707 |
Provision for (benefit from) income taxes |
Schedule of States Federal In_2
Schedule of States Federal Income Tax Rate Income Loss Before Income Taxes (Details) (Parenthetical) | 12 Months Ended |
Dec. 31, 2021 | |
Income Tax Disclosure [Abstract] | |
Federal income tax rate | 21.00% |
Income Taxes (Details Narrative
Income Taxes (Details Narrative) | 12 Months Ended |
Dec. 31, 2021 | |
Income Tax Disclosure [Abstract] | |
Federal income tax rate | 21.00% |
Commitments and Contingencies (
Commitments and Contingencies (Details Narrative) | Feb. 28, 2020USD ($) | May 08, 2018 | Sep. 15, 2016USD ($) | Apr. 30, 2017USD ($) | Dec. 31, 2021USD ($)Integer$ / shares | Sep. 15, 2021USD ($) |
Guarantor Obligations [Line Items] | ||||||
Debt outstanding principal balance | $ 925,100 | |||||
Nonbank Lender [Member] | General Development Corp [Member] | ||||||
Guarantor Obligations [Line Items] | ||||||
Line of credit | $ 500,000 | $ 1,000,000 | $ 500,000 | |||
Line of credit interest rate | 12.00% | |||||
Line of credit facility principal due payable terms | The outstanding principal is due and payable in 60 months. | |||||
Lease Agreement [Member] | ||||||
Guarantor Obligations [Line Items] | ||||||
Rent expense | $ 25,140 | $ 2,000 | ||||
Increase in rent expense | $ 2,500 | |||||
Lease term | 2 years | |||||
Sales Manager [Member] | May 8, 2017 to May 8, 2019 [Member] | ||||||
Guarantor Obligations [Line Items] | ||||||
Agreement term interval based | 1 year | |||||
Construction Contracts [Member] | ||||||
Guarantor Obligations [Line Items] | ||||||
Number of contracts assigned | Integer | 17 | |||||
Construction contract price | $ / shares | $ 6,024,890 |
Related Party Transactions (Det
Related Party Transactions (Details Narrative) - USD ($) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Related Party Transaction [Line Items] | ||
Selling, general and administrative expenses | $ 818,711 | $ 1,032,419 |
Chief Executive Officer [Member] | ||
Related Party Transaction [Line Items] | ||
Salary paid | 63,700 | 62,650 |
DHL [Member] | ||
Related Party Transaction [Line Items] | ||
Selling, general and administrative expenses | 144,300 | 138,050 |
Payroll and taxes | $ 80,600 | $ 75,400 |
Subsequent Events (Details Narr
Subsequent Events (Details Narrative) - Subsequent Event [Member] | Apr. 04, 2022ft²Integershares | Jan. 31, 2022a |
Vincent Simonelli [Member] | ||
Subsequent Event [Line Items] | ||
Stock issued during period shares | shares | 250,000 | |
Clayton Apartment Property [Member] | ||
Subsequent Event [Line Items] | ||
Number of properties acquired | Integer | 112 | |
Area of land | ft² | 7,000 | |
Contract of housing land area | a | 45 |