Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2022 | Aug. 10, 2022 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0001539850 | |
Entity Registrant Name | Starco Brands, Inc. | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2022 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Jun. 30, 2022 | |
Document Transition Report | false | |
Entity File Number | 0-54892 | |
Entity Incorporation, State or Country Code | NV | |
Entity Tax Identification Number | 27-1781753 | |
Entity Address, Address Line One | 250 26th Street, Suite 200 | |
Entity Address, City or Town | Santa Monica | |
Entity Address, State or Province | CA | |
Entity Address, Postal Zip Code | 90402 | |
City Area Code | 888 | |
Local Phone Number | 484-1908 | |
Title of 12(b) Security | Common stock | |
Trading Symbol | STCB | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 160,237,149 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) | Jun. 30, 2022 | Dec. 31, 2021 |
Current Assets: | ||
Cash | $ 240,169 | $ 338,863 |
Accounts receivable, related party | 1,001,797 | 174,059 |
Prepaid and other assets | 290,970 | 733,020 |
Total Current Assets | 1,532,936 | 1,245,942 |
Intangibles, net | 20,000 | 20,000 |
Note receivable, related party | 95,640 | 95,640 |
Total Assets | 1,648,576 | 1,361,582 |
Current Liabilities: | ||
Accounts payable | 584,383 | 592,665 |
Other payable and accruals | 259,499 | 800,775 |
Accrued liabilities, related party | 110,390 | 202,023 |
Stock Payable | 0 | 654,166 |
Treasury stock payable, current | 131,400 | 131,400 |
Loans and advances payable, related party | 376,382 | 376,382 |
Notes payable | 0 | 53,822 |
Total Current Liabilities | 1,462,054 | 2,811,233 |
Treasury stock payable, net of current portion | 131,400 | 197,100 |
Loans payable, net of current portion, related party | 1,572,500 | 1,100,000 |
Total Liabilities | 3,165,954 | 4,108,333 |
Stockholders' Deficit: | ||
Preferred Stock, par value $0.001 40,000,000 shares authorized, no shares issued and outstanding | 0 | 0 |
Common Stock, par value $0.001 300,000,000 shares authorized, 160,237,149 and 159,140,665 shares issued and outstanding, respectively | 160,237 | 159,141 |
Additional paid in capital | 16,960,155 | 15,950,403 |
Treasury Stock at cost | (394,200) | (394,200) |
Accumulated deficit | (18,204,824) | (18,388,186) |
Total Starco Brands' Deficit | (1,478,632) | (2,672,842) |
Non-controlling interest | (38,746) | (73,909) |
Total Stockholders' Deficit | (1,517,378) | (2,746,751) |
Total Liabilities and Stockholders' Deficit | $ 1,648,576 | $ 1,361,582 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares | Jun. 30, 2022 | Dec. 31, 2021 |
Preferred stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized (in shares) | 40,000,000 | 40,000,000 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock, shares authorized (in shares) | 300,000,000 | 300,000,000 |
Common stock, shares issued (in shares) | 160,237,149 | 159,140,665 |
Common stock, shares outstanding (in shares) | 160,237,149 | 159,140,665 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ / shares in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Revenues, net, related party | $ 1,230,219 | $ 200,000 | $ 2,153,493 | $ 374,570 |
Operating Expenses: | ||||
Compensation expense | 92,949 | 219,826 | 77,793 | |
Professional fees | 179,468 | 237,974 | 110,402 | |
Marketing, General and administrative | 730,479 | 1,313,660 | 136,430 | |
Marketing, related party | 44,570 | 131,614 | 183,934 | |
Total operating expenses | 1,047,466 | 1,903,074 | 508,559 | |
Income (loss) from operations | 182,754 | 250,420 | (133,989) | |
Other Income (Expense): | ||||
Interest expense | (17,040) | (31,895) | (19,186) | |
Other income (expense) | 0 | 0 | (3,500) | |
Total other income (expense) | (17,040) | (11,794) | (31,895) | (22,686) |
Income (Loss) before provision for income taxes | 165,714 | 218,525 | (156,675) | |
Provision for income taxes | 0 | 0 | 0 | |
Net Income (Loss) | 165,714 | $ (40,766) | 218,525 | (156,675) |
Net income (loss) attributable to Non-controlling interest | (23,301) | (35,163) | 0 | |
Net Income (Loss) attributable to Starco Brands | $ 142,413 | $ 183,362 | $ (156,675) | |
Income (Loss) per share, basic (in dollars per share) | $ 0 | $ 0 | $ 0 | |
Income (Loss) per share, diluted (in dollars per share) | $ 0 | $ 0 | $ 0 | |
Weighted Average Shares Outstanding, basic (in shares) | 160,558,592 | 159,849,628 | 159,140,665 | |
Weighted Average Shares Outstanding, diluted (in shares) | 163,220,485 | 162,832,964 | 159,140,665 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Stockholders' Deficit (Unaudited) - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | Treasury Stock [Member] | Retained Earnings [Member] | Noncontrolling Interest [Member] | Total |
Balance at December 31, 2020 (in shares) at Dec. 31, 2020 | 159,140,665 | |||||
Balance at Dec. 31, 2020 | $ 159,141 | $ 15,723,705 | $ 0 | $ (16,137,021) | $ 0 | $ (254,175) |
Estimated fair value of contributed services | 0 | 11,700 | 0 | 0 | 0 | 11,700 |
Net Income (Loss) | $ 0 | 0 | 0 | (115,909) | 0 | (115,909) |
Balance (in shares) at Mar. 31, 2021 | 159,140,665 | |||||
Balance at Mar. 31, 2021 | $ 159,141 | 15,735,405 | 0 | (16,252,930) | 0 | (358,384) |
Balance at December 31, 2020 (in shares) at Dec. 31, 2020 | 159,140,665 | |||||
Balance at Dec. 31, 2020 | $ 159,141 | 15,723,705 | 0 | (16,137,021) | 0 | (254,175) |
Net Income (Loss) | (156,675) | |||||
Balance (in shares) at Jun. 30, 2021 | 159,140,665 | |||||
Balance at Jun. 30, 2021 | $ 159,141 | 15,747,105 | 0 | (16,293,696) | 0 | (387,450) |
Balance at December 31, 2020 (in shares) at Mar. 31, 2021 | 159,140,665 | |||||
Balance at Mar. 31, 2021 | $ 159,141 | 15,735,405 | 0 | (16,252,930) | 0 | (358,384) |
Estimated fair value of contributed services | 0 | 11,700 | 0 | 0 | 0 | 11,700 |
Net Income (Loss) | $ 0 | 0 | 0 | (40,766) | 0 | (40,766) |
Balance (in shares) at Jun. 30, 2021 | 159,140,665 | |||||
Balance at Jun. 30, 2021 | $ 159,141 | 15,747,105 | 0 | (16,293,696) | 0 | (387,450) |
Balance at December 31, 2020 (in shares) at Dec. 31, 2021 | 159,140,665 | |||||
Balance at Dec. 31, 2021 | $ 159,141 | 15,950,403 | (394,200) | (18,388,186) | (73,909) | (2,746,751) |
Estimated fair value of contributed services | 0 | 54,862 | 0 | 0 | 0 | 54,862 |
Net Income (Loss) | 0 | 0 | 0 | 40,949 | 11,862 | 52,811 |
Estimated fair value of warrants issued | $ 0 | 53,741 | 0 | 0 | 0 | 53,741 |
Balance (in shares) at Mar. 31, 2022 | 159,140,665 | |||||
Balance at Mar. 31, 2022 | $ 159,141 | 16,059,006 | (394,200) | (18,347,237) | (62,047) | (2,585,337) |
Balance at December 31, 2020 (in shares) at Dec. 31, 2021 | 159,140,665 | |||||
Balance at Dec. 31, 2021 | $ 159,141 | 15,950,403 | (394,200) | (18,388,186) | (73,909) | (2,746,751) |
Net Income (Loss) | 218,525 | |||||
Balance (in shares) at Jun. 30, 2022 | 160,237,149 | |||||
Balance at Jun. 30, 2022 | $ 160,237 | 16,960,155 | (394,200) | (18,204,824) | (38,746) | (1,517,378) |
Balance at December 31, 2020 (in shares) at Mar. 31, 2022 | 159,140,665 | |||||
Balance at Mar. 31, 2022 | $ 159,141 | 16,059,006 | (394,200) | (18,347,237) | (62,047) | (2,585,337) |
Estimated fair value of contributed services | 216 | 209,475 | 0 | 0 | 0 | 209,691 |
Net Income (Loss) | 0 | 0 | 0 | 142,413 | 23,301 | 165,714 |
Estimated fair value of warrants issued | $ 0 | 22,599 | 0 | 0 | 0 | 22,599 |
Estimated fair value of contributed services (in shares) | 216,664 | |||||
Issuance of Shares (in shares) | 151,250 | |||||
Issuance of Shares | $ 151 | 150,343 | 0 | 0 | 0 | 150,494 |
Recognition of deferred offering Costs | $ 0 | (135,434) | 0 | 0 | 0 | (135,434) |
Issuance of shares related to stock payable (in shares) | 728,570 | |||||
Issuance of shares related to stock payable | $ 729 | 654,166 | 0 | 0 | 0 | 654,895 |
Balance (in shares) at Jun. 30, 2022 | 160,237,149 | |||||
Balance at Jun. 30, 2022 | $ 160,237 | $ 16,960,155 | $ (394,200) | $ (18,204,824) | $ (38,746) | $ (1,517,378) |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 6 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
CASH FLOW FROM OPERATING ACTIVITES: | ||
Net Income (loss) | $ 218,525 | $ (156,675) |
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ||
Loss on disposal off asset | 0 | 3,500 |
Contributed services/ stock based compensation | 341,622 | 23,400 |
Changes in Operating Assets and Liabilities: | ||
Accounts receivable, related party | (827,738) | (88,082) |
Prepaids & other assets | 306,616 | (184,473) |
Accounts payable | (8,282) | 3,388 |
Accrued expenses, related party | (91,633) | (78,910) |
Accrued liabilities | (541,276) | 0 |
Net Cash Used in Operating Activities | (602,166) | (477,852) |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Advances / loans from related parties | 472,500 | 344,722 |
Repayment of advances from related parties | 0 | (387,114) |
Payments on notes payable | (53,822) | 0 |
Proceeds from issuance of common stock | 150,494 | 0 |
Repurchases of common stock | (65,700) | 0 |
Net Cash Provided by (used in) Financing Activities | 503,472 | (42,392) |
Net Decrease in Cash | (98,694) | (520,244) |
Cash at Beginning of Period | 338,863 | 773,322 |
Cash at End of Period | 240,169 | 253,078 |
Cash paid during the year for: | ||
Interest | 33,631 | 19,546 |
Supplemental non-cash disclosure: | ||
Non-cash issuance of stock payable | 654,166 | 0 |
Reclass of offering costs to additional paid-in capital | $ 135,434 | $ 0 |
Note 1 - Organization and Descr
Note 1 - Organization and Description of Business | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Business Description and Basis of Presentation [Text Block] | NOTE 1 ORGANIZATION AND DESCRIPTION OF BUSINESS Starco Brands, Inc. (STCB) was incorporated in the State of Nevada on January 26, 2010, September 7, 2017, July 2017, During the third 2021 , two not In our opinion, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of unaudited consolidated financial position and the unaudited consolidated results of operations for interim periods presented have been reflected herein. The results of operations for the interim periods are not |
Note 2 - Summary of Significant
Note 2 - Summary of Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | NOTE 2 Basis of Consolidation 810, June 30, 2022 Basis of presentation The condensed consolidated financial statements of the Company and the accompanying notes included in this Quarterly Report on Form 10 not 10 December 31, 2021. 10 Use of estimates The preparation of consolidated financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates include the fair value of contributed services and recoverability of prepaid royalties. Actual results could differ from those estimates. Concentrations of Credit Risk may not not Cash and Cash Equivalents The Company considers all highly liquid investments with maturities of three may June 30, 2022, December 31, 2021. Accounts Receivable Revenues that have been recognized but not not not June 30, 2022 December 31, 2021. Fair value of financial instruments The Company follows paragraph 825 10 50 10 820 10 35 37 820 10 35 37” 820 10 35 37 820 10 35 37 three 3 three 3 820 10 35 37 Level 1: Level 2: 1, Level 3: not The carrying amount of the Company’s consolidated financial assets and liabilities, such as cash, prepaid expenses and accrued expenses approximate their fair value because of the short maturity of those instruments. The Company’s notes payable approximates the fair value of such instruments based upon management’s best estimate of interest rates that would be available to the Company for similar financial arrangements at June 30, 2022. Revenue recognition STCB and its subsidiaries earn their revenue as royalties from the licensing agreements it has with TSG, a related entity, and other related parties. STCB licenses the right for TSG to manufacture and sell certain Starco Brands products. The amount of the licensing revenue received varies depending upon the product and the royalty percentage is determined beforehand in each agreement. The Company recognizes its revenue only when sales are made by TSG or other related parties to a third The Company applies the following five The Company only applies the five 606 Stock-based Compensation The Company accounts for stock-based compensation per the provisions of ASC 718, 718” not not Net income (loss) per common share Net income (loss) per common share is computed pursuant to ASC 260, 260 first June 30, 2022, Intangible Assets Indefinite-lived intangible assets consist of certain trademarks. These intangible assets are not The Company assesses potential impairment of its long-lived assets whenever events or changes in circumstances indicate that an asset or asset group’s carrying value may not 820, no Royalties and Licenses Royalty-based obligations with content licensors are either paid in advance and capitalized as prepaid royalties or are accrued as incurred and subsequently paid. These royalty-based obligations are generally expensed to cost of revenue generally at the greater of the contractual rate or an effective royalty rate based on the total projected net revenue for contracts with guaranteed minimums. Prepayments made are generally made in connection with the development of a particular product, and therefore, we are generally subject to risk during the product phase. Payments earned after completion of the product (primarily royalty-based in nature) are generally expensed as cost of revenue. The Company contracts with some licensors include minimum guaranteed royalty payments, which are initially recorded as an asset and as a liability at the contractual amount when no Each quarter, we also evaluate the expected future realization of our royalty-based assets, as well as any unrecognized minimum commitments not Our minimum contractual obligations related to the above agreement as of June 30, 2022 December 31, 2023, 2024, Recent accounting pronouncements In June 2022, 2022 03, 820 2022 03” 2022 03 not not December 15, 2024. not The Company does not |
Note 3 - Going Concern
Note 3 - Going Concern | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Substantial Doubt about Going Concern [Text Block] | NOTE 3 GOING CONCERN The accompanying consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The Company has an accumulated deficit of $18.2 Million at June 30, 2022 six June 30, 2022. six June 30, 2022. December 2021. not may |
Note 4 - Notes Payable
Note 4 - Notes Payable | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | NOTE 4 NOTES PAYABLE The Company has a financing loan for its Directors and Officers Insurance (“D&O”) that was incurred in September 2021. June 2022. six June 30, 2022, December 31, 2021 See Note 6 Related Party Transactions |
Note 5 - Commitments & Continge
Note 5 - Commitments & Contingencies | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | NOTE 5 On February 18, 2020, no On September 8, 2021, August 24, 2021, seven 2021, On September 14, 2021, 2024, three six June 30, 2022 |
Note 6 - Related Party Transact
Note 6 - Related Party Transactions | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | NOTE 6 RELATED PARTY TRANSACTIONS During the year ended December 31, 2017, June 2021, 36 July 2021, 10 three six June 30, 2022 2022. As of June 30, 2022, may On January 24, 2020, two June 28, 2021, January 24, 2020 June 28, 2023. September 17, 2021, third September 17, 2023. December 13, 2021, fourth December 12, 2023. February 14, 2022, fifth two may 10 10 June 30, 2022, During the three six June 30, 2022, February 2022. During the three six June 30, 2022, three six June 30, 2021, June 30, 2022 December 31, 2021, During the year ended December 31, 2021, no During the three six June 30, 2022, |
Note 7 - Stock Warrants
Note 7 - Stock Warrants | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Stock Warrants [Text Block] | NOTE 7 STOCK WARRANTS A summary of the status of the Company’s outstanding stock warrants and changes during the periods is presented below: Shares available to purchase with warrants Weighted Average Price Weighted Average Fair Value Outstanding, December 31, 2020 2,000,000 $ 1.05 $ 0.003 Issued 550,000 $ 0.95 $ 0.023 Exercised - $ - $ - Cancelled - $ - $ - Expired - $ - $ - Outstanding, December 31, 2021 2,550,000 $ 1.03 $ 0.007 Issued - $ - $ - Exercised - $ - $ - Cancelled - $ - $ - Expired - $ - $ - Outstanding, June 30, 2022 2,550,000 $ 1.03 0.007 Exercisable, June 30, 2022 2,168,750 $ 1.04 $ 0.004 |
Note 8 - Stockholders' Equity (
Note 8 - Stockholders' Equity (Deficit) | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | NOTE 8 STOCKHOLDERS' EQUITY (DEFICIT) On July 23, 2020, 14 October 2021, three six June 30, 2022 |
Note 9 - Subsequent Events
Note 9 - Subsequent Events | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | NOTE 9 Management has evaluated subsequent events pursuant to the requirements of ASC Topic 855, no On July 19, 2022, January 24, 2022 ( January 24, 2022 July 19, 2022). ten four The Amended Note carries a guaranteed 4% interest rate, matures on July 19, 2023, may |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2022 | |
Accounting Policies [Abstract] | |
Consolidation, Policy [Policy Text Block] | Basis of Consolidation 810, June 30, 2022 |
Basis of Accounting, Policy [Policy Text Block] | Basis of presentation The condensed consolidated financial statements of the Company and the accompanying notes included in this Quarterly Report on Form 10 not 10 December 31, 2021. 10 |
Use of Estimates, Policy [Policy Text Block] | Use of estimates The preparation of consolidated financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates include the fair value of contributed services and recoverability of prepaid royalties. Actual results could differ from those estimates. |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Concentrations of Credit Risk may not not |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents The Company considers all highly liquid investments with maturities of three may June 30, 2022, December 31, 2021. |
Accounts Receivable [Policy Text Block] | Accounts Receivable Revenues that have been recognized but not not not June 30, 2022 December 31, 2021. |
Fair Value of Financial Instruments, Policy [Policy Text Block] | Fair value of financial instruments The Company follows paragraph 825 10 50 10 820 10 35 37 820 10 35 37” 820 10 35 37 820 10 35 37 three 3 three 3 820 10 35 37 Level 1: Level 2: 1, Level 3: not The carrying amount of the Company’s consolidated financial assets and liabilities, such as cash, prepaid expenses and accrued expenses approximate their fair value because of the short maturity of those instruments. The Company’s notes payable approximates the fair value of such instruments based upon management’s best estimate of interest rates that would be available to the Company for similar financial arrangements at June 30, 2022. |
Revenue [Policy Text Block] | Revenue recognition STCB and its subsidiaries earn their revenue as royalties from the licensing agreements it has with TSG, a related entity, and other related parties. STCB licenses the right for TSG to manufacture and sell certain Starco Brands products. The amount of the licensing revenue received varies depending upon the product and the royalty percentage is determined beforehand in each agreement. The Company recognizes its revenue only when sales are made by TSG or other related parties to a third The Company applies the following five The Company only applies the five 606 |
Share-Based Payment Arrangement [Policy Text Block] | Stock-based Compensation The Company accounts for stock-based compensation per the provisions of ASC 718, 718” not not |
Earnings Per Share, Policy [Policy Text Block] | Net income (loss) per common share Net income (loss) per common share is computed pursuant to ASC 260, 260 first June 30, 2022, |
Goodwill and Intangible Assets, Intangible Assets, Policy [Policy Text Block] | Intangible Assets Indefinite-lived intangible assets consist of certain trademarks. These intangible assets are not The Company assesses potential impairment of its long-lived assets whenever events or changes in circumstances indicate that an asset or asset group’s carrying value may not 820, no |
Royalties and Licenses [Policy Text Block] | Royalties and Licenses Royalty-based obligations with content licensors are either paid in advance and capitalized as prepaid royalties or are accrued as incurred and subsequently paid. These royalty-based obligations are generally expensed to cost of revenue generally at the greater of the contractual rate or an effective royalty rate based on the total projected net revenue for contracts with guaranteed minimums. Prepayments made are generally made in connection with the development of a particular product, and therefore, we are generally subject to risk during the product phase. Payments earned after completion of the product (primarily royalty-based in nature) are generally expensed as cost of revenue. The Company contracts with some licensors include minimum guaranteed royalty payments, which are initially recorded as an asset and as a liability at the contractual amount when no Each quarter, we also evaluate the expected future realization of our royalty-based assets, as well as any unrecognized minimum commitments not Our minimum contractual obligations related to the above agreement as of June 30, 2022 December 31, 2023, 2024, |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent accounting pronouncements In June 2022, 2022 03, 820 2022 03” 2022 03 not not December 15, 2024. not The Company does not |
Note 7 - Stock Warrants (Tables
Note 7 - Stock Warrants (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block] | Shares available to purchase with warrants Weighted Average Price Weighted Average Fair Value Outstanding, December 31, 2020 2,000,000 $ 1.05 $ 0.003 Issued 550,000 $ 0.95 $ 0.023 Exercised - $ - $ - Cancelled - $ - $ - Expired - $ - $ - Outstanding, December 31, 2021 2,550,000 $ 1.03 $ 0.007 Issued - $ - $ - Exercised - $ - $ - Cancelled - $ - $ - Expired - $ - $ - Outstanding, June 30, 2022 2,550,000 $ 1.03 0.007 Exercisable, June 30, 2022 2,168,750 $ 1.04 $ 0.004 |
Note 1 - Organization and Des_2
Note 1 - Organization and Description of Business (Details Textual) - Whipshots-DE [Member] | Jun. 30, 2022 |
Noncontrolling Interest, Ownership Percentage by Parent | 96% |
Percentage of Equity Issued Subject to Vesting Requirements | 3% |
Note 2 - Summary of Significa_2
Note 2 - Summary of Significant Accounting Policies (Details Textual) - USD ($) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2022 | Dec. 31, 2021 | |
Cash Equivalents, at Carrying Value, Total | $ 0 | |
Accounts Receivable, Allowance for Credit Loss, Ending Balance | 0 | |
Common Stock, Shares to be Issued (in shares) | 433,336 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | 2,550,000 | |
Amortization of Intangible Assets | 0 | |
Impairment of Intangible Assets (Excluding Goodwill), Total | 0 | |
Contractual Obligation, to be Paid, Year Two | 1,100,000 | |
Contractual Obligation, to be Paid, Year Three | $ 1,650,000 | |
Whipshots-DE [Member] | ||
Noncontrolling Interest, Ownership Percentage by Parent | 96% |
Note 3 - Going Concern (Details
Note 3 - Going Concern (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2022 | Jun. 30, 2021 | Dec. 31, 2021 | |
Retained Earnings (Accumulated Deficit), Total | $ (18,204,824) | $ (18,204,824) | $ (18,388,186) | |
Net Income (Loss) Attributable to Parent, Total | $ 142,413 | 183,362 | $ (156,675) | |
Net Cash Provided by (Used in) Operating Activities, Total | $ (602,166) | $ (477,852) |
Note 4 - Notes Payable (Details
Note 4 - Notes Payable (Details Textual) - USD ($) | Jun. 30, 2022 | Dec. 31, 2021 |
Short-Term Debt, Total | $ 0 | $ 53,822 |
Financing Loan for Director and Officer Insurance Policy [Member] | ||
Debt Instrument, Interest Rate, Stated Percentage | 4.40% | |
Short-Term Debt, Total | $ 53,822 |
Note 5 - Commitments & Contin_2
Note 5 - Commitments & Contingencies (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2022 | Sep. 14, 2021 | Sep. 08, 2021 | |
Penguins Fly, LLC [Member] | |||||
Minimum Purchase Price, Aggregate Payment | $ 140,000 | ||||
Maximum Purchase Price Aggregate Payment | $ 2,000,000 | ||||
Payments to Acquire Intangible Assets | $ 20,000 | ||||
Washpoppin Inc. [Member] | |||||
Minimum Royalty Payments | $ 3,300,000 | ||||
Royalty Expense | $ 127,000 | $ 254,000 | |||
Advance Royalties, Total | $ 254,000 | $ 254,000 |
Note 6 - Related Party Transa_2
Note 6 - Related Party Transactions (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended | 36 Months Ended | |||||||||
Dec. 13, 2021 | Sep. 17, 2021 | Jun. 28, 2021 | Feb. 14, 2020 | Jan. 24, 2020 | Jun. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | Dec. 31, 2017 | Jun. 30, 2024 | Dec. 31, 2021 | |
Due to Related Parties, Noncurrent, Total | $ 1,572,500 | $ 1,572,500 | $ 1,100,000 | ||||||||||
Due to Related Parties, Current, Total | 376,382 | 376,382 | 376,382 | ||||||||||
Proceeds from Related Party Debt | 472,500 | $ 344,722 | |||||||||||
Share Price (in dollars per share) | $ 0.29 | ||||||||||||
Revenue from Related Parties | 1,230,219 | $ 200,000 | 2,153,493 | $ 374,570 | |||||||||
Accounts Receivable, Related Parties | 1,000,000 | 1,000,000 | 174,059 | ||||||||||
Contributed Services [Member] | |||||||||||||
Related Party Transaction, Amounts of Transaction | 47,000 | 102,000 | |||||||||||
Chairman and Former CEO [Member] | |||||||||||||
Due to Related Parties, Noncurrent, Total | $ 289,821 | ||||||||||||
Related-party Advance, Monthly Interest Payment | $ 2,545 | ||||||||||||
Sanford Lang and Martin Goldrod [Member] | |||||||||||||
Stock Repurchased During Period, Value | 33,000 | 66,000 | |||||||||||
Sanford Lang and Martin Goldrod [Member] | Forecast [Member] | |||||||||||||
Monthly Share Repurchases from Related Parties, Value | $ 10,950 | ||||||||||||
The Starco Group [Member] | |||||||||||||
Due to Related Parties, Noncurrent, Total | $ 472,500 | ||||||||||||
Due to Related Parties, Current, Total | 203,539 | 203,539 | |||||||||||
Conditions for Related Party to Deduct Incurred Expenses from Subsequent Royalty Payments, Royalty Revenue Threshold | 250,000 | ||||||||||||
The Starco Group [Member] | Notes Payable, Other Payables [Member] | |||||||||||||
Debt Instrument, Interest Rate During Period | 4% | ||||||||||||
The Starco Group [Member] | Due for Expenses to Launch Licensed Brands [Member] | |||||||||||||
Due to Related Parties, Current, Total | 72,843 | 72,843 | |||||||||||
The Starco Group [Member] | Cash Advance [Member] | |||||||||||||
Proceeds from Related Party Debt | $ 300,000 | ||||||||||||
The Starco Group [Member] | Company Costs [Member] | |||||||||||||
Proceeds from Related Party Debt | $ 172,500 | ||||||||||||
Chief Executive Officer [Member] | |||||||||||||
Notes Payable, Total | $ 100,000 | ||||||||||||
Proceeds from Related Party Debt | $ 500,000 | $ 500,000 | $ 100,000 | ||||||||||
Accrued Interest, Related Party | $ 6,300 | $ 6,300 | |||||||||||
Chief Executive Officer [Member] | Notes Payable, Other Payables [Member] | |||||||||||||
Debt Instrument, Interest Rate During Period | 4% | ||||||||||||
Debt Instrument, Term (Year) | 2 years | ||||||||||||
The Woo [Member] | |||||||||||||
Marketing Expense, Related Party | $ 87,044 | ||||||||||||
Temperance [Member] | |||||||||||||
Notes Receivable, Related Parties | $ 95,640 |
Note 8 - Stock Warrants - Summa
Note 8 - Stock Warrants - Summary of Stock Warrants (Details) - Warrants [Member] - $ / shares | 3 Months Ended | 6 Months Ended | 12 Months Ended |
Mar. 31, 2022 | Jun. 30, 2022 | Dec. 31, 2021 | |
Balance, shares (in shares) | 2,550,000 | 2,550,000 | 2,000,000 |
Balance, weighted average price (in dollars per share) | $ 1.03 | $ 1.03 | $ 1.05 |
Balance, weighted average fair value (in dollars per share) | 0.007 | $ 0.007 | $ 0.003 |
Issued, shares (in shares) | 0 | 550,000 | |
Issued, weighted average price (in dollars per share) | $ 0 | $ 0.95 | |
Issued, weighted average fair value (in dollars per share) | $ 0 | $ 0.023 | |
Exercised, shares (in shares) | 0 | 0 | |
Exercised, weighted average price (in dollars per share) | $ 0 | $ 0 | |
Cancelled, shares (in shares) | 0 | 0 | |
Cancelled, weighted average price (in dollars per share) | $ 0 | $ 0 | |
Expired, shares (in shares) | 0 | 0 | |
Expired, weighted average price (in dollars per share) | $ 0 | $ 0 | |
Balance, shares (in shares) | 2,550,000 | 2,550,000 | |
Balance, weighted average price (in dollars per share) | $ 1.03 | $ 1.03 | |
Balance, weighted average fair value (in dollars per share) | $ 0.007 | $ 0.007 | |
Exercisable, shares (in shares) | 2,168,750 | ||
Exercisable, weighted average price (in dollars per share) | $ 1.04 | ||
Exercisable, weighted average fair value (in dollars per share) | $ 0.004 |
Note 8 - Stockholders' Equity_2
Note 8 - Stockholders' Equity (Deficit) (Details Textual) - USD ($) | 1 Months Ended | 3 Months Ended | 6 Months Ended | |
Jul. 23, 2020 | Oct. 31, 2021 | Jun. 30, 2022 | Jun. 30, 2022 | |
Stock Issued During Period, Shares, Issued for Services (in shares) | 49,751 | 650,000 | ||
Share Price, Average 14 Closing Day Price (in dollars per share) | $ 2.01 | |||
Stock Issued During Period, Value, Issued for Services | $ 100,000 | $ 650,000 | ||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Month) | 24 months | |||
Shares Issued, Price Per Share (in dollars per share) | $ 1 | |||
Share-Based Payment Arrangement, Expense | $ 81,249 | $ 162,498 |
Note 9 - Subsequent Events (Det
Note 9 - Subsequent Events (Details Textual) - Notes Payable, Other Payables [Member] - Chief Executive Officer [Member] | Jul. 19, 2022 | Jan. 24, 2022 |
Debt Instrument, Interest Rate, Stated Percentage | 10% | |
Debt Instrument, Interest Rate, Effective Percentage | 4% | |
Subsequent Event [Member] | ||
Debt Instrument, Interest Rate, Effective Percentage | 4% | |
Subsequent Event [Member] | Default Rate [Member] | ||
Debt Instrument, Interest Rate, Effective Percentage | 10% |