Document and Entity Information
Document and Entity Information - shares | 3 Months Ended | |
Mar. 31, 2019 | Jun. 17, 2019 | |
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Mar. 31, 2019 | |
Entity Registrant Name | First Colombia Development Corp. | |
Entity Central Index Key | 0001533030 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Common Stock, Shares Outstanding | 77,100,016 | |
Document Fiscal Year Focus | 2019 | |
Document Fiscal Period Focus | Q1 | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Ex Transition Period | false | |
Entity Current Reporting Status | Yes | |
Entity Shell Company | false |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) | Mar. 31, 2019 | Dec. 31, 2018 |
Current Assets | ||
Cash | $ 132,962 | $ 207,313 |
Inventory | 9,747 | 10,459 |
Prepaid expenses and advances | 33,830 | 28,428 |
Total current assets | 176,539 | 246,200 |
Property and equipment, net of accumulated depreciation of $1,129 and $761, respectively | 457,142 | 457,361 |
Total Assets | 633,681 | 703,561 |
Current Liabilities | ||
Accounts payable and accrued liabilities | 50,009 | 49,183 |
Due to related party | 8,024 | 7,846 |
Total Liabilities | 58,033 | 57,029 |
Commitments and Contingencies | ||
Stockholders' Equity | ||
Preferred stock, $0.001 par value, 100,000,000 shares authorized, no shares issued and outstanding, respectively | ||
Common stock, $0.001 par value, 500,000,000 shares authorized, 76,400,016 and 76,400,016 shares issued and outstanding, respectively | 76,400 | 76,400 |
Additional paid-in capital | 1,425,885 | 1,425,885 |
Accumulated deficit | (911,994) | (840,656) |
Accumulated other comprehensive income | (14,643) | (15,097) |
Total Stockholders' Equity | 575,648 | 646,532 |
Total Liabilities and Stockholders' Equity | $ 633,681 | $ 703,561 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) | Mar. 31, 2019 | Dec. 31, 2018 |
Accumulated depreciation, Property and equipment (in Dollars) | $ 1,129 | $ 761 |
Preferred Stock, Par Value Per Share (in dollars per share) | $ 0.001 | $ 0.001 |
Preferred Stock, Shares Authorized | 100,000,000 | 100,000,000 |
Preferred Stock, Shares Issued | 0 | 0 |
Preferred Stock, Shares Outstanding | 0 | 0 |
Common Stock, Par Value Per Share (in dollars per share) | $ 0.001 | $ 0.001 |
Common Stock, Shares Authorized | 500,000,000 | 500,000,000 |
Common Stock, Shares, Issued | 76,400,016 | 76,400,016 |
Common Stock, Shares, Outstanding | 76,400,016 | 76,400,016 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations - USD ($) | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Expenses | ||
Bank charges | $ 109 | $ (233) |
Inventory impairment loss | 919 | |
Selling, marketing and administrative | 68,259 | 14,648 |
Total Operating Expenses | 69,287 | 14,415 |
Loss Before Other Expenses | (69,287) | (14,415) |
Other Expenses | ||
Interest expense | (231) | (36,325) |
(Loss) gain on foreign exchange | (446) | 693 |
Loss before taxes | (69,964) | (50,047) |
Income taxes | (1,374) | |
Net Loss | (71,338) | (50,047) |
Foreign currency translation adjustments | 454 | |
Comprehensive Loss | $ (70,884) | $ (50,047) |
Net loss per common share - Basic and Diluted (in dollars per share) | $ 0 | $ 0 |
Weighted Average Shares Outstanding (in shares) | 76,400,016 | 70,593,989 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Cash Flows - USD ($) | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Operating Activities | ||
Net Loss | $ (71,338) | $ (50,047) |
Adjustments to reconcile net loss to cash used in operating activities: | ||
Depreciation expense | 368 | |
Inventory impairment loss | 919 | |
Changes in operating assets and liabilities: | ||
Prepaids and advances | (5,402) | |
Accounts payable and accrued liabilities | 818 | (112,185) |
Net Cash Used in Operating Activities | (74,635) | (162,232) |
Financing Activities | ||
Proceeds (payments) on related party loans | 178 | (58) |
Proceeds from loan payable | 10,000 | |
Proceeds from sale of common stock | 500,000 | |
Net Cash Provided by Financing Activities | 178 | 509,942 |
Effect of Exchange Rate Changes on Cash | 106 | |
Increase (Decrease) In Cash | (74,351) | 347,710 |
Cash - Beginning of Period | 207,313 | 107 |
Cash - End of Period | 132,962 | 347,817 |
Non-Cash financing activities | ||
Gain on forgiveness of shareholder loan | 46,156 | |
Supplemental Disclosures | ||
Interest paid | 0 | 0 |
Income taxes paid | $ 0 | $ 0 |
Condensed Statements of Stockho
Condensed Statements of Stockholders' (Deficit) Equity - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | Accumulated Deficit [Member] | Accumulated Other Comprehensive Income [Member] | Total |
Beginning Balance at Dec. 31, 2017 | $ 69,520 | $ 166,609 | $ (413,199) | $ 0 | $ (177,070) |
Beginning Balance (shares) at Dec. 31, 2017 | 69,520,016 | ||||
Shares issued for cash at $0.25 per share | $ 4,000 | 496,000 | 500,000 | ||
Shares issued for cash at $0.25 per share (shares) | 4,000,000 | ||||
Gain on forgiveness of shareholder loan | 46,156 | 46,156 | |||
Net loss for the period | (50,047) | (50,047) | |||
Ending Balance at Mar. 31, 2018 | $ 73,520 | 708,765 | (463,246) | 0 | 319,039 |
Ending Balance (shares) at Mar. 31, 2018 | 73,520,016 | ||||
Beginning Balance at Dec. 31, 2018 | $ 76,400 | 1,425,885 | (840,656) | (15,097) | 646,532 |
Beginning Balance (shares) at Dec. 31, 2018 | 76,400,016 | ||||
Net loss for the period | (71,338) | 454 | (70,884) | ||
Ending Balance at Mar. 31, 2019 | $ 76,400 | $ 1,425,885 | $ (911,994) | $ (14,643) | $ 575,648 |
Ending Balance (shares) at Mar. 31, 2019 | 76,400,016 |
Statements of Stockholders' (De
Statements of Stockholders' (Deficit) Equity (Parenthetical) | Mar. 31, 2018$ / shares |
Statement of Stockholders' Equity [Abstract] | |
Share price (in dollars per share) | $ 0.25 |
Nature of Operations
Nature of Operations | 3 Months Ended |
Mar. 31, 2019 | |
Nature of Operations [Text Block] | 1. Nature of Operations First Colombia Development Inc. (the “Company”) was incorporated under the laws of the State of Nevada on May 10, 2011. Effective April 26, 2018, the Company changed its name from AFC Building Technologies Inc. to First Colombia Development Inc. On May 10, 2018, the Company acquired all the issued and outstanding share capital of a Colombian company, First Colombia Devco SAS., and began to establish various business ventures in Colombia in the agriculture and real estate development, tourism, and infrastructure sectors before commencing to phase them out in April 2019. On April 26, 2019, the Company began to reposition itself into the cannabis industry in the United States, and on May 14, 2019, announced two non-binding letters of intent to acquire assets in the cannabis space, including medical marijuana dispensaries and cannabis oil extraction assets. Going Concern These unaudited interim condensed consolidated financial statements have been prepared on a going concern basis, which implies the Company will continue to realize its assets and discharge its liabilities in the normal course of business. The continuation of the Company as a going concern is dependent upon the continued financial support from its shareholders and note holders, the ability of the Company to obtain necessary equity financing to continue operations, and ultimately the attainment of profitable operations. As at March 31, 2019, the Company has not generated any revenues and has an accumulated deficit of $911,994 since inception. These factors raise substantial doubt regarding the Company’s ability to continue as a going concern. These unaudited interim condensed consolidated financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. Summary of Significant Accounting Policies a) Basis of Presentation and Consolidation The unaudited interim condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States for interim financial information and with the Securities and Exchange Commission (“SEC”) instructions for companies filing Form 10-Q. In the opinion of management, the unaudited condensed consolidated financial statements have been prepared on the same basis as the annual financial statements and reflect all adjustments, which include only normal recurring adjustments, necessary to present fairly the financial position as of March 31, 2019, and the results of operations and cash flows for the periods ended March 31, 2019 and 2018. The financial data and other information disclosed in the notes to the interim condensed consolidated financial statements related to the periods are unaudited. The results for the three-month period ended March 31, 2019 is not necessarily indicative of the results to be expected for any subsequent quarter or the entire year ending December 31, 2019. These unaudited interim condensed consolidated financial statements should be read in conjunction with the Company’s annual audited financial statements and notes thereto for the year ended December 31, 2018, included in the Company’s Form 10-K filed on May 24, 2019 with the SEC. These unaudited interim condensed consolidated financial statements include the accounts of the Company and its wholly- owned subsidiary, First Colombia Devco SAS (from the date of acquisition, May 10, 2018). All inter-company balances and transactions have been eliminated. b) Use of Estimates The preparation of these unaudited interim condensed consolidated financial statements in accordance with United States generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the unaudited interim condensed consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. The Company regularly evaluates estimates and assumptions related to the estimated useful lives and recoverability of long-lived assets, deferred income tax asset valuations and loss contingencies. The Company bases its estimates and assumptions on current facts, historical experience and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual results experienced by the Company may differ materially and adversely from the Company’s estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected. c) Inventory Inventory consists of cattle acquired in May 2018 which are valued at the lower of cost or market. The Company sold the inventory in April 2019. d) Property and Equipment Property and equipment are stated at cost. The Company depreciates the cost of property and equipment over their estimated useful lives at the following annual rates: Office equipment and furniture 10 years straight-line basis Machinery and equipment 5-10 years straight-line basis e) Long-lived Assets In accordance with ASC 360, Property Plant and Equipment, the Company tests long-lived assets or asset groups for recoverability when events or changes in circumstances indicate that their carrying amount may not be recoverable. Circumstances which could trigger a review include, but are not limited to: significant decreases in the market price of the asset; significant adverse changes in the business climate or legal factors; accumulation of costs significantly in excess of the amount originally expected for the acquisition or construction of the asset; current period cash flow or operating losses combined with a history of losses or a forecast of continuing losses associated with the use of the asset; and a current expectation that the asset will more likely than not be sold or disposed significantly before the end of its estimated useful life. Recoverability is assessed based on the carrying amount of the asset and its fair value which is generally determined based on the sum of the undiscounted cash flows expected to result from the use and the eventual disposal of the asset, as well as specific appraisal in certain instances. An impairment loss is recognized when the carrying amount is not recoverable and exceeds fair value. f) Financial Instruments/Concentrations The Company’s financial instruments consist principally of cash, accounts payable, and due to related party. Pursuant to ASC 820, Fair Value Measurements and Disclosures, and ASC 825, Financial Instruments, the fair value of cash equivalents are determined based on “Level 1” inputs, which consist of quoted prices in active markets for identical assets. The Company believes that the recorded values of all of the Company’s other financial instruments approximate their current fair values because of their nature and relatively short maturity dates or durations. g) Foreign Currency Translation The functional currency of the Company is the United States dollar. The functional currency of the subsidiary is the Colombian Peso. The financial statements of the Company’s Colombian subsidiary were translated to United States dollars in accordance with ASC 830, Foreign Currency Translation Matters, using period-end rates of exchange for assets and liabilities, and average rates of exchange for the year for revenues and expenses. The period-end exchange rate at March 31,2019 was 3,189 Colombian Pesos to United States dollar, compared to the December 31, 2018 rate of 3248, and the average exchange rate for the three months ended March 31, 2019 was 3,135 Colombian Pesos to United States dollar. Gains and losses arising on foreign currency denominated transactions included in the determination of income. Foreign currency transactions are primarily undertaken in Colombian Pesos and Canadian dollars. The Company has not, to the date of these unaudited interim condensed consolidated financial statements, entered into derivative instruments to offset the impact of foreign currency fluctuations. h) Comprehensive Loss ASC 220, Comprehensive Income, establishes standards for the reporting and display of comprehensive income (loss) and its components in the unaudited interim condensed consolidated financial statements. During the period ended March 31, 2019 and 2018, the Company’s only component of comprehensive income was foreign currency translation adjustments. i) Recent Accounting Pronouncements In June 2018, the FASB issued ASU No. 2018-07, “ Compensation—Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting In February 2016, the FASB issued ASU 2016-02, " Leases The Company has evaluated all other new ASU's issued by FASB, and has concluded that these updates do not have a material effect on the Company's financial statements as of March 31, 2019. |
Property and Equipment
Property and Equipment | 3 Months Ended |
Mar. 31, 2019 | |
Property and Equipment [Text Block] | 2. Property and Equipment March 31, December 31, 2019 2018 Office equipment $ 3,867 $ 3,863 Machinery and equipment 4,404 4,259 Total 8,271 8,122 Accumulated depreciation (1,129 ) (761 ) Land 450,000 450,000 Property and Equipment, Net $ 457,142 $ 457,361 During the three months ended March 31, 2019, the Company recorded $368 of depreciation expense (2018 - nil). On June 7, 2018, the Company entered into a property purchase agreement whereby the Company agreed to acquire real estate located in the Municipality of Tarso, Antioquia, in Colombia. The property is 13.3125 hectares in size and the consideration for the purchase was $450,000. |
Related Party Transactions
Related Party Transactions | 3 Months Ended |
Mar. 31, 2019 | |
Related Party Transactions [Text Block] | 3. Related Party Transactions At March 31, 2019, the Company owed $8,024 (December 31, 2018 - $7,846) to the Chief Financial Officer of the Company. These were monies advanced for general working capital purposes, (i.e. accounting and professional fees) as required. The amount is unsecured, non-interest bearing and due on demand. |
Inventory
Inventory | 3 Months Ended |
Mar. 31, 2019 | |
Inventory [Text Block] | 4. Inventory At March 31, 2019, inventory consisted of $9,747 of cattle. The cattle are raised by a third-party rancher who bears the cost of development. Upon the sale of the cattle the Company will receive 40% of the earnings and the rancher will receive the remaining 60%. |
Licensing Agreement
Licensing Agreement | 3 Months Ended |
Mar. 31, 2019 | |
Licensing Agreement [Text Block] | 5. Licensing Agreement On June 30, 2015, the Company entered into a license agreement with a shareholder of the Company. Pursuant to the agreement, the Company received an exclusive worldwide license in regards to 15 domain names related to the automotive e-commerce business for a period of 40 years. In consideration for the granting of the license, the Company will pay to the licensor a royalty of 2.5% of gross sales for any revenue derived from the use of the licensed domains. The Company has not generated any revenue to date. |
Subsequent Events
Subsequent Events | 3 Months Ended |
Mar. 31, 2019 | |
Subsequent Events [Text Block] | 6. Subsequent Events On April 26, 2019, the Board of Directors approved a series of resolutions intended to reposition the Company, including the disposition of the Colombian assets and entry into the cannabis industry in the United States. In pursuit of the new strategy, on May 14, 2019, the Company announced two non-binding letters of intent to acquire assets in the cannabis space, including medical marijuana dispensaries and cannabis oil extraction assets. On April 27, 2019, the cattle owned by First Colombia Devco SAS were sold to a rancher for $9,747. On May 10, 2019, The Company entered into a Letter of Intent to sell all of the land that it has previously purchased in Colombia to the members of General Extract LLC as consideration for its purchase of 100% ownership of General Extract LLC. The transaction is expected to close in the second quarter of 2019. On May 14, 2019, The Company announced it has entered into a non-binding letter of intent with Critical Mass Industries LLC DBA Good Meds ("Good Meds") pursuant to which FCOL will acquire the management assets related to dispensing, cultivation and extraction as well as the brand assets of Good Meds, which includes BOSM Labs, in exchange for $1,999,770 and 15,053,233 shares of common stock. Subsequent to March 31, 2019, the Company announced a proposed private placement of the Company's common stock in a non- brokered transaction. Under the terms of the private placement, the Company intends to offer up to $8,000,000 in shares of common stock at a purchase price of US $0.50 per share. As of June 14, 2019, the Company had received proceeds of $350,000 from the sale of 700,000 shares of common stock. |
Summary of Significant Accounti
Summary of Significant Accounting Policies (Policies) | 3 Months Ended |
Mar. 31, 2019 | |
Basis of Presentation and Consolidation [Policy Text Block] | a) Basis of Presentation and Consolidation The unaudited interim condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States for interim financial information and with the Securities and Exchange Commission (“SEC”) instructions for companies filing Form 10-Q. In the opinion of management, the unaudited condensed consolidated financial statements have been prepared on the same basis as the annual financial statements and reflect all adjustments, which include only normal recurring adjustments, necessary to present fairly the financial position as of March 31, 2019, and the results of operations and cash flows for the periods ended March 31, 2019 and 2018. The financial data and other information disclosed in the notes to the interim condensed consolidated financial statements related to the periods are unaudited. The results for the three-month period ended March 31, 2019 is not necessarily indicative of the results to be expected for any subsequent quarter or the entire year ending December 31, 2019. These unaudited interim condensed consolidated financial statements should be read in conjunction with the Company’s annual audited financial statements and notes thereto for the year ended December 31, 2018, included in the Company’s Form 10-K filed on May 24, 2019 with the SEC. These unaudited interim condensed consolidated financial statements include the accounts of the Company and its wholly- owned subsidiary, First Colombia Devco SAS (from the date of acquisition, May 10, 2018). All inter-company balances and transactions have been eliminated. |
Use of Estimates [Policy Text Block] | b) Use of Estimates The preparation of these unaudited interim condensed consolidated financial statements in accordance with United States generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the unaudited interim condensed consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. The Company regularly evaluates estimates and assumptions related to the estimated useful lives and recoverability of long-lived assets, deferred income tax asset valuations and loss contingencies. The Company bases its estimates and assumptions on current facts, historical experience and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual results experienced by the Company may differ materially and adversely from the Company’s estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected. |
Inventory [Policy Text Block] | c) Inventory Inventory consists of cattle acquired in May 2018 which are valued at the lower of cost or market. The Company sold the inventory in April 2019. |
Property and Equipment [Policy Text Block] | d) Property and Equipment Property and equipment are stated at cost. The Company depreciates the cost of property and equipment over their estimated useful lives at the following annual rates: Office equipment and furniture 10 years straight-line basis Machinery and equipment 5-10 years straight-line basis |
Long-lived Assets [Policy Text Block] | e) Long-lived Assets In accordance with ASC 360, Property Plant and Equipment, the Company tests long-lived assets or asset groups for recoverability when events or changes in circumstances indicate that their carrying amount may not be recoverable. Circumstances which could trigger a review include, but are not limited to: significant decreases in the market price of the asset; significant adverse changes in the business climate or legal factors; accumulation of costs significantly in excess of the amount originally expected for the acquisition or construction of the asset; current period cash flow or operating losses combined with a history of losses or a forecast of continuing losses associated with the use of the asset; and a current expectation that the asset will more likely than not be sold or disposed significantly before the end of its estimated useful life. Recoverability is assessed based on the carrying amount of the asset and its fair value which is generally determined based on the sum of the undiscounted cash flows expected to result from the use and the eventual disposal of the asset, as well as specific appraisal in certain instances. An impairment loss is recognized when the carrying amount is not recoverable and exceeds fair value. |
Financial Instruments/Concentrations [Policy Text Block] | f) Financial Instruments/Concentrations The Company’s financial instruments consist principally of cash, accounts payable, and due to related party. Pursuant to ASC 820, Fair Value Measurements and Disclosures, and ASC 825, Financial Instruments, the fair value of cash equivalents are determined based on “Level 1” inputs, which consist of quoted prices in active markets for identical assets. The Company believes that the recorded values of all of the Company’s other financial instruments approximate their current fair values because of their nature and relatively short maturity dates or durations. |
Foreign Currency Translation [Policy Text Block] | g) Foreign Currency Translation The functional currency of the Company is the United States dollar. The functional currency of the subsidiary is the Colombian Peso. The financial statements of the Company’s Colombian subsidiary were translated to United States dollars in accordance with ASC 830, Foreign Currency Translation Matters, using period-end rates of exchange for assets and liabilities, and average rates of exchange for the year for revenues and expenses. The period-end exchange rate at March 31,2019 was 3,189 Colombian Pesos to United States dollar, compared to the December 31, 2018 rate of 3248, and the average exchange rate for the three months ended March 31, 2019 was 3,135 Colombian Pesos to United States dollar. Gains and losses arising on foreign currency denominated transactions included in the determination of income. Foreign currency transactions are primarily undertaken in Colombian Pesos and Canadian dollars. The Company has not, to the date of these unaudited interim condensed consolidated financial statements, entered into derivative instruments to offset the impact of foreign currency fluctuations. |
Comprehensive Loss [Policy Text Block] | h) Comprehensive Loss ASC 220, Comprehensive Income, establishes standards for the reporting and display of comprehensive income (loss) and its components in the unaudited interim condensed consolidated financial statements. During the period ended March 31, 2019 and 2018, the Company’s only component of comprehensive income was foreign currency translation adjustments. |
Recent Accounting Pronouncements [Policy Text Block] | i) Recent Accounting Pronouncements In June 2018, the FASB issued ASU No. 2018-07, “ Compensation—Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting In February 2016, the FASB issued ASU 2016-02, " Leases The Company has evaluated all other new ASU's issued by FASB, and has concluded that these updates do not have a material effect on the Company's financial statements as of March 31, 2019. |
Nature of Operations (Tables)
Nature of Operations (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Schedule of Estimated Useful Lives of Property and Equipment [Table Text Block] | Office equipment and furniture 10 years straight-line basis Machinery and equipment 5-10 years straight-line basis |
Property and Equipment (Tables)
Property and Equipment (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Schedule of Property, Plant and Equipment [Table Text Block] | March 31, December 31, 2019 2018 Office equipment $ 3,867 $ 3,863 Machinery and equipment 4,404 4,259 Total 8,271 8,122 Accumulated depreciation (1,129 ) (761 ) Land 450,000 450,000 Property and Equipment, Net $ 457,142 $ 457,361 |
Nature of Operations (Narrative
Nature of Operations (Narrative) (Details) | 3 Months Ended | |
Mar. 31, 2019USD ($) | Dec. 31, 2018USD ($) | |
Accumulated deficit | $ 911,994 | $ 840,656 |
Foreign Currency Exchange Rate, Translation | 3,189 | 3,248 |
Average Foreign Currency Exchange Rate, Translation | 3,135 |
Property and Equipment (Narrati
Property and Equipment (Narrative) (Details) - USD ($) | Jul. 07, 2018 | Mar. 31, 2019 | Mar. 31, 2018 |
Depreciation expense | $ 368 | ||
Payments to Acquire Land | $ 450,000 |
Related Party Transactions (Nar
Related Party Transactions (Narrative) (Details) - USD ($) | Mar. 31, 2019 | Dec. 31, 2018 |
Amount due to related party | $ 8,024 | $ 7,846 |
Chief Financial Officer [Member] | ||
Amount due to related party | $ 8,024 | $ 7,846 |
Inventory (Narrative) (Details)
Inventory (Narrative) (Details) - USD ($) | Mar. 31, 2019 | Dec. 31, 2018 |
Inventory | $ 9,747 | $ 10,459 |
Sale of inventory, percentage of revenue receivable | 40.00% | |
Sale of inventory, percentage of revenue payable | 60.00% |
Licensing Agreement (Narrative)
Licensing Agreement (Narrative) (Details) | 3 Months Ended |
Mar. 31, 2019 | |
License period | 40 years |
Royalty of gross sales, licensed domains | 2.50% |
Subsequent Events (Narrative) (
Subsequent Events (Narrative) (Details) - Subsequent Event [Member] - USD ($) | May 14, 2019 | Apr. 27, 2019 | Mar. 31, 2019 | May 10, 2019 |
Proceeds from sale of cattle to rancher | $ 9,747 | |||
Sale of Stock, Consideration Received Per Transaction | $ 8,000,000 | |||
Sale of Stock, Price Per Share | $ 0.50 | |||
Sale of Stock, Consideration Received on Transaction | $ 350,000 | |||
Sale of Stock, Number of Shares Issued in Transaction | 700,000 | |||
General Extract LLC [Member] | ||||
Ownership percentage | 100.00% | |||
Critical Mass Industries LLC Dba Good Meds [Member] | ||||
Amount exchange to acquire management assets | $ 1,999,770 | |||
Number of shares exchange to acquire management assets | 15,053,233 |
Schedule of Estimated Useful Li
Schedule of Estimated Useful Lives of Property and Equipment (Details) | 3 Months Ended |
Mar. 31, 2019 | |
Office equipment and furniture [Member] | |
Property, Plant and Equipment, Useful Life | 10 years |
Machinery and equipment [Member] | Minimum [Member] | |
Property, Plant and Equipment, Useful Life | 5 years |
Machinery and equipment [Member] | Maximum [Member] | |
Property, Plant and Equipment, Useful Life | 10 years |
Schedule of Property, Plant and
Schedule of Property, Plant and Equipment (Details) - USD ($) | Mar. 31, 2019 | Dec. 31, 2018 |
Property and Equipment | $ 8,271 | $ 8,122 |
Accumulated depreciation | (1,129) | (761) |
Land | 450,000 | 450,000 |
Equipment, Net | 457,142 | 457,361 |
Office equipment [Member] | ||
Property and Equipment | 3,867 | 3,863 |
Machinery and equipment [Member] | ||
Property and Equipment | $ 4,404 | $ 4,259 |