Rapid Therapeutic Science Laboratories (RTSL) 10-Q 11 Aug 21 2021 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2021	Aug. 11, 2021
Details
Registrant CIK	0001575659
Fiscal Year End	--12-31
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2021
Document Transition Report	false
Entity File Number	000-55018
Entity Registrant Name	Rapid Therapeutic Science Laboratories, Inc.
Entity Incorporation, State or Country Code	NV
Entity Tax Identification Number	46-2111820
Entity Address, Address Line One	15800 Dooley Rd., Suite 200
Entity Address, City or Town	Addison
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	75001
City Area Code	800
Local Phone Number	497-6059
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		193,541,921
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Jun. 30, 2021	Dec. 31, 2020
Current assets:
Cash	$ 47,918	$ 499,146
Inventory, net	166,802	186,802
Total current assets	214,720	685,948
Property and equipment:
Property and equipment, gross	646,519	606,740
Accumulated depreciation	(18,305)	(7,255)
Net property and equipment	628,214	599,485
Intangible assets:
Sublicense agreement, net	170,075	227,500
Total assets	1,013,009	1,512,933
Current liabilities:
Accounts payableand accrued liabilities, net	129,901	112,298
Notes payable - related party	273,700	23,700
Notes payable - other	24,686	674,927
Accrued interest payable	38,230	354,659
Derivative liability	0	43,306
Total current liabilities	466,517	1,208,890
Other liabilities:
Convertible notes payable	150,000	315,240
Total liabilities	616,517	1,524,130
Stockholders' equity (deficit):
Preferred stock value	0	0
Common stock value	193,517	180,937
Additional paid in capital	7,263,488	5,798,745
Accumulated deficit	(6,723,174)	(5,653,540)
Treasury stock	(337,339)	(337,339)
Total stockholders' equity (deficit)	396,492	(11,197)
Total liabilities and stockholders' equity (deficit)	$ 1,013,009	$ 1,512,933

Consolidated Balance Sheets - P

Consolidated Balance Sheets - Parenthetical - USD ($)	Jun. 30, 2021	Dec. 31, 2020
Accumulated amortization, Sublicense Agreement	$ 0	$ 112,500
Preferred Stock, Par or Stated Value Per Share	$ 0
Preferred Stock, Shares Outstanding	0	0
Common Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001
Common Stock, Shares Authorized	750,000,000	750,000,000
Common Stock, Shares, Outstanding	193,516,921	180,936,608
Series A Preferred Stock
Preferred Stock, Shares Authorized	16,500,000
Series B Preferred Stock
Preferred Stock, Shares Authorized	2,000,000
Series C Preferred Stock
Preferred Stock, Shares Authorized	8,500,000

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Details
Revenues	$ 424	$ 129,287	$ 424	$ 138,426
Cost of goods sold	200	18,556	200	25,711
Gross profit	224	110,731	224	112,715
Operating expenses:
General and administrative	527,278	629,510	1,029,201	853,750
Amortization expense	0	25,000	12,500	50,000
Depreciation expense	5,525	0	11,050	0
Total operating expenses	532,803	654,510	1,052,751	903,750
Other income (expense):
Interest expense	(3,309)	(22,601)	(17,107)	(86,493)
Total other income (expense)	(3,309)	(22,601)	(17,107)	(86,493)
Net loss before income taxes	(535,888)	(566,380)	(1,069,634)	(877,528)
Income taxes	0	0	0	0
Net (loss)	$ (535,888)	$ (566,380)	$ (1,069,634)	$ (877,528)
Net loss per share, basic and diluted	$ 0	$ 0	$ (0.01)	$ (0.01)
Weighted average shares outstanding, basic and diluted	193,436,083	160,494,805	187,915,734	159,513,760

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity (Deficit) - USD ($)	Common Stock	Additional Paid-in Capital	Retained Earnings	Treasury Stock	Total
Equity Balance at Dec. 31, 2019	$ 156,856	$ 2,242,418	$ (3,290,271)	$ (337,339)	$ (1,228,336)
Equity Balance, Shares at Dec. 31, 2019	156,856,000
Private offering of common stock, value	$ 1,100	73,900	0	0	75,000
Private offering of common stock, shares	1,100,000
Net (loss)	$ 0	0	(311,148)	0	(311,148)
Equity Balance at Mar. 31, 2020	$ 159,556	2,414,718	(3,601,419)	(337,339)	(1,364,484)
Equity Balance, Shares at Mar. 31, 2020	159,556,000
Share-based compensation, value	$ 1,600	98,400	0	0	100,000
Share-based compensation, shares issued	1,600,000
Equity Balance at Dec. 31, 2019	$ 156,856	2,242,418	(3,290,271)	(337,339)	(1,228,336)
Equity Balance, Shares at Dec. 31, 2019	156,856,000
Net (loss)					(877,528)
Equity Balance at Jun. 30, 2020	$ 161,874	2,991,984	(4,167,799)	(337,339)	(1,351,280)
Equity Balance, Shares at Jun. 30, 2020	161,874,334
Equity Balance at Mar. 31, 2020	$ 159,556	2,414,718	(3,601,419)	(337,339)	(1,364,484)
Equity Balance, Shares at Mar. 31, 2020	159,556,000
Private offering of common stock, value	$ 960	239,040	0	0	240,000
Private offering of common stock, shares	960,000
Net (loss)	$ 0	0	(566,380)	0	(566,380)
Equity Balance at Jun. 30, 2020	$ 161,874	2,991,984	(4,167,799)	(337,339)	(1,351,280)
Equity Balance, Shares at Jun. 30, 2020	161,874,334
Share-based compensation, value	$ 1,358	338,226	0	0	339,584
Share-based compensation, shares issued	1,358,334
Equity Balance at Dec. 31, 2020	$ 180,937	5,798,745	(5,653,540)	(337,339)	(11,197)
Equity Balance, Shares at Dec. 31, 2020	180,936,608
Private offering of common stock, value	$ 1,325	528,675	0	0	530,000
Private offering of common stock, shares	1,325,000
Stock issued for conversion of debt, value	$ 11,094	878,937	0		890,031
Stock issued for conversion of debt, shares	11,094,585
Stock issued for accrued interest and lending fees, value	$ 23	2,269	0	0	2,292
Stock issued for accrued interest and lending fees, shares	23,228
Net (loss)	$ 0	0	(533,746)	0	(533,746)
Equity Balance at Mar. 31, 2021	$ 193,379	7,208,626	(6,187,286)	(337,339)	877,380
Equity Balance, Shares at Mar. 31, 2021	193,379,421
Equity Balance at Dec. 31, 2020	$ 180,937	5,798,745	(5,653,540)	(337,339)	(11,197)
Equity Balance, Shares at Dec. 31, 2020	180,936,608
Net (loss)					(1,069,634)
Equity Balance at Jun. 30, 2021	$ 193,517	7,263,488	(6,723,174)	(337,339)	396,492
Equity Balance, Shares at Jun. 30, 2021	193,516,921
Equity Balance at Mar. 31, 2021	$ 193,379	7,208,626	(6,187,286)	(337,339)	877,380
Equity Balance, Shares at Mar. 31, 2021	193,379,421
Private offering of common stock, value	$ 138	54,862	0	0	55,000
Private offering of common stock, shares	137,500
Net (loss)	$ 0	0	(535,888)	0	(535,888)
Equity Balance at Jun. 30, 2021	$ 193,517	$ 7,263,488	$ (6,723,174)	$ (337,339)	$ 396,492
Equity Balance, Shares at Jun. 30, 2021	193,516,921

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Cash flows from operating activities:
Net (loss)	$ (1,069,634)	$ (877,528)
Adjustments to reconcile net loss to net cash provided by (used in) operations
Stock-based compensation expense	0	439,584
Amortization expense	12,500	50,000
Depreciation expense	11,050	0
Changes in operating assets and liabilities:
Inventory	20,000	(28,619)
Accounts payable and accrued expenses	62,528	5,987
Accrued interest payable	17,107	86,492
Other, net	0	(44,925)
Net cash flows used in operating activities	(946,449)	(369,009)
Cash flows from investing activities:
Additions to property and equipment	(39,779)	0
Net cash flows used in investing activities	(39,779)	0
Cash flows from financing activities:
Private offering of common stock	585,000	315,000
Proceeds from notes payable - related party	250,000	0
Proceeds from notes payable - other	0	52,000
Payment of notes payable - other	(300,000)	0
Equity subscription payable	0	90,000
Net cash flows provided by financing activities	535,000	457,000
Net increase (decrease) in cash and cash equivalents	(451,228)	87,991
Cash and cash equivalents at beginning of period	499,146	125,132
Cash and cash equivalents at end of period	47,918	213,123
Supplemental cash flow data:
Cash paid for interest	0	0
Cash paid for income taxes	0	0
Supplemental Non-cash financing activities:
Convertible notes and interest converted to common stock	892,323	0
Debt discount on convertible notes payable	$ 0	$ 44,952

Condensed Interim Financial Sta

Condensed Interim Financial Statements	6 Months Ended
	Jun. 30, 2021
Notes
Condensed Interim Financial Statements	(1) Condensed Interim Financial Statements The Company we our Company Interim Financial Information SEC Impact of COVID-19 Pandemic on Consolidated Financial Statements

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2021
Notes
Summary of Significant Accounting Policies	(2) Summary of Significant Accounting Policies Basis of Accounting Principles of Consolidation Change in Fiscal Year Cash and Cash Equivalents Inventory Property and Equipment Intangible Assets Revenue recognition FASB Revenue from Contracts with Customers (Topic 606). Earnings per Share Income Taxes Use of Estimates Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the financial statements, which management considered in formulating its estimate could change in the near term due to one or more future confirming events. Accordingly, the actual results could differ significantly from estimates. Fair Value of Financial Instruments Level 1: The preferred inputs to valuation efforts are “ quoted prices in active markets for identical assets or liabilities Level 2: FASB acknowledged that active markets for identical assets and liabilities are relatively uncommon and, even when they do exist, they may be too thin to provide reliable information. To deal with this shortage of direct data, the board provided a second level of inputs that can be applied in three situations. Level 3: If inputs from levels 1 and 2 are not available, FASB acknowledges that fair value measures of many assets and liabilities are less precise. The board describes Level 3 inputs as “ unobservable shall be used to measure fair value to the extent that observable inputs are not available for situations in which there is little, if any, market activity for the asset or liability at the measurement date observable inputs Recently Issued Accounting Pronouncements Subsequent Events

Going Concern Disclosure

Going Concern Disclosure	6 Months Ended
	Jun. 30, 2021
Notes
Going Concern Disclosure	(3) Going Concern The Company’s consolidated financial statements are prepared using the generally accepted accounting principles applicable to a going concern, which contemplates the realization of assets and liquidation of liabilities in the normal course of business. However, the Company has generated minimal revenues and has suffered recurring losses totaling $6,723,174 since inception. These factors, among others, indicate that there is substantial doubt about the Company’s ability to continue as a going concern within one year from the issuance date of this filing. In order to obtain the necessary capital to sustain operations, management’s plans include, among other things, the possibility of pursuing new equity sales and/or making additional debt borrowings. There can be no assurances, however, that the Company will be successful in obtaining such additional financing, or that such financing will be available on favorable terms, if at all. The accompanying consolidated financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or amounts and classification of liabilities that might result from the outcome of this uncertainty.

Intangible Assets Disclosure

Intangible Assets Disclosure	6 Months Ended
	Jun. 30, 2021
Notes
Intangible Assets Disclosure	(4) Intangible Assets The Company has acquired certain intangible asset rights to use the metered dose inhaler (MDI) developed by EM3 Methodologies, LLC (“ EM3 EM3 Exclusive License Effective November 15, 2019, we entered into a sublicense agreement (the “ TMDI Agreement TMDI EM3 Exclusive License Effective February 9, 2021, both the TMDI Agreement and the EM3 Exclusive License were effectively terminated by mutual agreement of all parties and EM3 agreed to provide the Company with a royalty-free, perpetual license to use the Desirick Procedure or any derivation thereof and its application and use on an exclusive basis in the states of Texas, California, Florida and Nevada (subject to pre-existing licensing rights which have been provided by EM3 in such jurisdictions), and on a non-exclusive basis throughout the rest of the world. During the term of the TMDI Agreement, we were required to reimburse TMDI for the initial two year license fee owed by TMDI to EM3 in the amount of $200,000. We partially satisfied this obligation by making an equipment purchase on behalf of EM3 in the amount of $135,000, and agreed to pay the remaining license fee of $65,000, either by making cash fee payments or by making cash purchases of certain supplies from EM3, within a 24-month period (for which, we had recorded a liability of $44,925 for the unpaid portion of this amount in accounts payable as of December 31, 2020). We had recorded the entire $200,000 license fee as an intangible asset and were amortizing such expense on a straight-line basis over a 24-month period at the rate of $25,000 per quarter. Pursuant to the termination of the two agreements, we no longer owe TMDI (or EM3) any license fees under either agreement (including, the accrued liability of $44,925). Effective February 2020, the Company is accounting for the licenses as an indefinite life asset not subject to the amortization, resulting in the remaining balance of $170,075 being subjected to impairment testing at least annually, or more frequently if events or changes in circumstances indicate that it is more likely than not that the asset is impaired.

Asset Acquisition Disclosure

Asset Acquisition Disclosure	6 Months Ended
	Jun. 30, 2021
Notes
Asset Acquisition Disclosure	(5) Asset Acquisition On November 16, 2020, the Company closed an Asset Purchase and Sales Agreement with Razor Jacket, LLC (“ Razor Jacket RJ Agreement The Company has accounted for this transaction as an acquisition of assets, pursuant to the provisions of Accounting Standards Codification (ASC) 805-50. Accordingly, we have accounted for each component of the purchase price as follows: · · · Razor Jacket was originally formed in July 2019 for the sole purpose of researching techniques for the extraction of isolates from raw hemp. We have not presented any pro forma disclosures relating to this acquisition in the notes to our financial statements because the transaction is deemed an asset acquisition.

Property and Equipment Disclosu

Property and Equipment Disclosure	6 Months Ended
	Jun. 30, 2021
Notes
Property and Equipment Disclosure	(6) Property and Equipment As of June 30, 2021, and December 31, 2020, the Company had the following balances of property and equipment: June 30, 2021 December 31, 2020 Equipment purchased from Razor Jacket, LLC in November 2020, stored in a warehouse in Oregon, and awaiting shipment and installation in the Company’s facilities in Dallas, Texas $ 500,000 $ 500,000 Equipment located in the Company’s facilities in Dallas, Texas 144,019 104,240 Leasehold improvements in the Company’s facilities in Dallas, Texas 2,500 2,500 Total property and equipment 646,519 606,740 Less: Accumulated depreciation (18,305) (7,255) Net property and equipment $ 628,214 $ 599,485 The Company presently anticipates that the equipment purchased from Razor Jacket, LLC will be transported and installed, either in the Company’s existing leased facilities or in newly leased facilities, in Dallas, Texas, in the second quarter of 2021.

Notes Payable Disclosure

Notes Payable Disclosure	6 Months Ended
	Jun. 30, 2021
Notes
Notes Payable Disclosure	(7) Notes Payable As of June 30, 2021 and December 31, 2020, the Company had the following note payable obligations: June 30, 2021 December 31 2020 Promissory note issued to an accredited investor on November 10, 2020, accruing interest at 5% per annum, due on January 10, 2021, along with lending fee of 20,000 shares of common stock $ - $ 300,000 Convertible promissory notes issued to two accredited investors on November 15, 2019, maturing in 1 to 5 years, accruing interest at 5% per annum, convertible into common stock at $0.05 per share. 150,000 150,000 Unsecured advances received from two officers in May and June 2021, accruing interest at 1% per annum, payable on demand 250,000 - Convertible promissory notes issued to former owners in acquisition of Power Blockchain, accruing interest at 5% per annum, principal repayments originally due in four equal installments on 2nd, 3rd, 4th and 5th anniversaries, convertible into common stock at $0.13 per share, with final maturity on February 1, 2023. - 165,240 Other short term notes issued to various affiliates of the former owners of Power Blockchain for acquisition of Treasury Stock, computers and equipment, and working capital financing, at stated interest rates of 10%. Amended on November 15, 2019, to mature in one year and to be convertible into common stock at $0.05 per share. 48,386 351,933 Convertible notes issued to an accredited investor in three tranches from June to August 2020, net of unamortized debt discount of $43,306 (see further discussion below) - 46,694 Total notes payable $ 448,386 $ 1,013,867 Future maturities of notes payable as of June 30, 2021 are as follows: Year ending June 30, 2022 $ 298,386 Year ending June 30, 2023 - Year ending June 30, 2024 - Year ending June 30, 2025 150,000 $ 448,386 In order to meet short-term working capital needs, the Company obtained unsecured cash advances from two of its officers in May and June 2021 in the total amount of $250,000. These related party advances accrue interest at the rate of 1% per annum and are payable on demand. Such advances are expected to be repaid out of the proceeds of an underwritten public offering of the Company’s equity securities which the Company is currently pursuing. However, no assurance can be given that the Company will be successful in achieving a closing of the underwritten public offering (see Note 11). Effective August 31, 2020, the Company reached the necessary milestone to trigger the conversion of certain notes payable issued on various dates in 2018 and 2019, as amended, in the total principal amount of $732,835, into shares of the Company’s common stock, at a conversion price of $0.05 per share, subject to a 4.99% ownership limitation for each beneficial owner of such notes. In conjunction with this conversion, holders of notes in the principal amount of $404,601, plus additional accrued interest in the amount of $96,536, converted their notes into 10,022,749 shares of common stock at that time. Effective March 31, 2021, the following additional conversions of the Company’s remaining convertible notes payable occurred: (i) the holders of convertible notes payable issued in 2018 at a conversion price of $0.13 per share, with total principal and accrued interest balances in the aggregate amount of $410,888, converted their notes into a total of 3,160,684 shares of common stock; and (ii) the holders of convertible notes payable amended or issued in 2019 at a conversion price of $0.05 per share, with total principal and accrued interest balances in the aggregate amount of $383,470, the automatic conversion of which had previously been triggered on August 31, 2020, as discussed above, subject to each holder’s beneficial ownership limitation, converted their notes into a total of 7,669,381 shares of common stock. As a result of these conversions, a total of 10,830,065 new shares of common stock were issued. As of June 30, 2021, convertible notes payable in the amount of $174,685, plus accrued interest in the amount of $33,658, remain outstanding and are available to be subsequently converted into 4,166,860 shares of common stock, subject to the ownership limitation (see Note 8). From June 30, 2020 to August 14, 2020, the Company entered into three identical Securities Purchase Agreements with an accredited investor (the “ Buyer Notes Effective November 15, 2019, the following transactions took place in the Company’s notes payable: · · · The Company performed an analysis of both the newly issued convertible notes and the newly amended existing notes, which were formerly non-convertible, to determine whether there was a beneficial conversion feature and noted none.

Stockholders' Equity Disclosure

Stockholders' Equity Disclosure	6 Months Ended
	Jun. 30, 2021
Notes
Stockholders' Equity Disclosure	(8) Stockholders’ Equity Effective January 13, 2020, the Company filed a Certificate of Amendment to its Amended and Restated Articles of Incorporation (the “ Certificate of Amendment blank check Effective August 31, 2020, the Company reached the necessary milestone to trigger the conversion of certain notes payable issued to the holders on various dates in 2018 and 2019, as amended, in the total principal amount of $732,835 into shares of the Company’s common stock, at a conversion price of $0.05 per share, subject to a 4.99% ownership limitation for each beneficial owner of such notes. In conjunction with this conversion, holders of notes in the principal amount of $404,601, plus an additional accrued interest amount of $96,536, converted their notes into 10,022,749 shares of common stock at that time. Effective March 31, 2021, the following additional conversions of the Company’s remaining convertible notes payable occurred: (i) the holders of convertible notes payable issued in 2018 at a conversion price of $0.13 per share with total principal and accrued interest balances in the aggregate amount of $410,888 converted their notes into a total of 3,160,684 shares of common stock; and (ii) the holders of convertible notes payable amended or issued in 2019 at a conversion price of $0.05 per share with total principal and accrued interest balances in the aggregate amount of $383,470, the automatic conversion of which had previously been triggered on August 31, 2020, as discussed above, subject to each holder’s beneficial ownership limitation, converted their notes into a total of 7,669,381 shares of common stock. As a result of these conversions, a total of 10,830,065 new shares of common stock were issued. As of June 30, 2021, convertible notes payable in the amount of $174,685, plus accrued interest in the amount of $33,658, remain outstanding and are available to be subsequently converted into 4,166,860 shares of common stock, subject to the ownership limitation (see Note 7). During the six months ended June 30, 2021, the Company entered into private stock subscription agreements with several accredited investors whereby it sold them a total of 1,462,500 shares of restricted common stock at an offering price of $0.40 per share, resulting in gross proceeds to the Company of $585,000. The investors also received an equal number of warrants to purchase additional shares of common stock at exercise prices of $0.85 to $1.00 per share. Such purchases must be made within 180 days of the Company’s 3-day volume weighted average stock price being above the exercise price, otherwise, such warrants are void. On December 29, 2020, the Board of Directors adopted, subject to the ratification by the majority shareholders, which ratification occurred pursuant to a majority stockholder consent, effective on December 30, 2020, the Company’s 2020 Equity Incentive Plan (the “ 2020 Plan reorganization or reclassification of the Company’s common stock, the aggregate number of shares of common stock which may be issued pursuant to awards under the 2020 Plan is the sum of (i) 25,000,000 shares, and (ii) an annual increase on March 1st of each calendar year, beginning in 2022 and ending in 2030, in each case subject to the approval of the Board of Directors or the compensation committee of the Company (if any) on or prior to the applicable date, equal to the lesser of (A) five percent (5%) of the total shares of common stock of the Company outstanding on the last day of the immediately preceding fiscal year; (B) twenty-five million (25,000,000) shares of common stock; and (C) such smaller number of shares as determined by the Board of Directors or compensation committee of the Company (if any)(the “ Share Limit evergreen The 2020 Plan will provide an opportunity for any employee, officer, director or consultant of the Company, subject to limitations provided by federal or state securities laws, to receive (i) incentive stock options (to eligible employees only); (ii) nonqualified stock options; (iii) restricted stock; (iv) stock awards; (v) shares in performance of services; or (vi) any combination of the foregoing. In making such determinations, the Board of Directors may take into account the nature of the services rendered by such person, his or her present and potential contribution to the Company’s success, and such other factors as the Board of Directors in its discretion shall deem relevant. The Company has made no awards under this Plan to date. In March 2018, the Board approved the establishment of a new 2018 Stock Option Plan with an authorization for the issuance of up to 20,000,000 shares of common stock. The Plan is designed to provide for future discretionary grants of stock options, stock awards and stock unit awards to key employees and non-employee directors. The Company has made no awards under this Plan to date.

Related Party Transactions Disc

Related Party Transactions Disclosure	6 Months Ended
	Jun. 30, 2021
Notes
Related Party Transactions Disclosure	(9) Related Party Transactions Office services have been provided without charge by our Chief Executive Officer and director, Donal R. Schmidt, Jr., through June 30, 2021 (at which time, the Company relocated to a new leased office location). Such costs are immaterial to the consolidated financial statements and, accordingly, have not been reflected therein. The officers and directors of the Company are involved in other business activities and may, in the future, become involved in other business opportunities. If a specific business opportunity becomes available, such persons may face a conflict in selecting between the Company and their other business interests. The Company has not formulated a policy for the resolution of such conflicts.

Commitments and Contingencies,

Commitments and Contingencies, Disclosure	6 Months Ended
	Jun. 30, 2021
Notes
Commitments and Contingencies, Disclosure	(10) Commitments and Contingencies From time to time in the ordinary course of our business, the Company may be involved in legal proceedings, the outcomes of which may not be determinable. The results of litigation are inherently unpredictable. Any claims against us, whether meritorious or not, could be time consuming, result in costly litigation, require significant amounts of management time and result in diversion of significant resources. We are not able to estimate an aggregate amount or range of reasonably possible losses for those legal matters for which losses are not probable and estimable, primarily for the following reasons: (i) many of the relevant legal proceedings are in preliminary stages, and until such proceedings develop further, there is often uncertainty regarding the relevant facts and circumstances at issue and potential liability; and (ii) many of these proceedings involve matters of which the outcomes are inherently difficult to predict. We currently have no insurance policies covering such potential losses. We are not at this time involved in any legal proceedings.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2021
Notes
Subsequent Events	(11) Subsequent Events On July 6, 2021, the Company awarded 25,000 shares of restricted common stock to a consultant as compensation for services. In conjunction with this award, the Company recognized non-cash compensation expense in the month of July 2021 in the amount of $10,000. On August 4, 2021, the Company sold an accredited investor of an Original Issue Discount Convertible Debenture in the original principal amount of $1,941,176 (the “ Debenture Investor Warrants Qualified Offering The amount owed under the Debenture, including amounts owed upon the occurrence of an event of default, may be converted, in whole or part, by the holder, into common stock of the Company, at a conversion price of $0.40 per share (the “ Conversion Price The Investor Warrants, which are evidenced by a Common Stock Purchase Warrant (the “ Warrant Agreement Pursuant to a Placement Agent Agreement entered into with Maxim Group LLC (the “ Placement Agent Placement Warrants Offering Warrants The Company expects to use the proceeds of the offering to meet its short-term working capital needs in anticipation of ultimately closing a Qualified Offering in the future.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies: Basis of Accounting Policy (Policies)	6 Months Ended
	Jun. 30, 2021
Policies
Basis of Accounting Policy	Basis of Accounting

Summary of Significant Accoun_3

Summary of Significant Accounting Policies: Principles of Consolidation, Policy (Policies)	6 Months Ended
	Jun. 30, 2021
Policies
Principles of Consolidation, Policy	Principles of Consolidation

Summary of Significant Accoun_4

Summary of Significant Accounting Policies: Cash and Cash Equivalents Policy (Policies)	6 Months Ended
	Jun. 30, 2021
Policies
Cash and Cash Equivalents Policy	Cash and Cash Equivalents

Summary of Significant Accoun_5

Summary of Significant Accounting Policies: Inventory, Policy (Policies)	6 Months Ended
	Jun. 30, 2021
Policies
Inventory, Policy	Inventory

Summary of Significant Accoun_6

Summary of Significant Accounting Policies: Property and Equipment, Policy (Policies)	6 Months Ended
	Jun. 30, 2021
Policies
Property and Equipment, Policy	Property and Equipment

Summary of Significant Accoun_7

Summary of Significant Accounting Policies: Intangible Assets, Policy (Policies)	6 Months Ended
	Jun. 30, 2021
Policies
Intangible Assets, Policy	Intangible Assets

Summary of Significant Accoun_8

Summary of Significant Accounting Policies: Revenue Recognition, Policy (Policies)	6 Months Ended
	Jun. 30, 2021
Policies
Revenue Recognition, Policy	Revenue recognition FASB Revenue from Contracts with Customers (Topic 606).

Summary of Significant Accoun_9

Summary of Significant Accounting Policies: Earnings per share, Policy (Policies)	6 Months Ended
	Jun. 30, 2021
Policies
Earnings per share, Policy	Earnings per Share

Summary of Significant Accou_10

Summary of Significant Accounting Policies: Income Taxes, Policy (Policies)	6 Months Ended
	Jun. 30, 2021
Policies
Income Taxes, Policy	Income Taxes

Summary of Significant Accou_11

Summary of Significant Accounting Policies: Use of Estimates, Policy (Policies)	6 Months Ended
	Jun. 30, 2021
Policies
Use of Estimates, Policy	Use of Estimates Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the financial statements, which management considered in formulating its estimate could change in the near term due to one or more future confirming events. Accordingly, the actual results could differ significantly from estimates.

Summary of Significant Accou_12

Summary of Significant Accounting Policies: Fair value of financial instruments, Policy (Policies)	6 Months Ended
	Jun. 30, 2021
Policies
Fair value of financial instruments, Policy	Fair Value of Financial Instruments Level 1: The preferred inputs to valuation efforts are “ quoted prices in active markets for identical assets or liabilities Level 2: FASB acknowledged that active markets for identical assets and liabilities are relatively uncommon and, even when they do exist, they may be too thin to provide reliable information. To deal with this shortage of direct data, the board provided a second level of inputs that can be applied in three situations. Level 3: If inputs from levels 1 and 2 are not available, FASB acknowledges that fair value measures of many assets and liabilities are less precise. The board describes Level 3 inputs as “ unobservable shall be used to measure fair value to the extent that observable inputs are not available for situations in which there is little, if any, market activity for the asset or liability at the measurement date observable inputs

Summary of Significant Accou_13

Summary of Significant Accounting Policies: Recently Issued Accounting Pronouncements (Policies)	6 Months Ended
	Jun. 30, 2021
Policies
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements

Summary of Significant Accou_14

Summary of Significant Accounting Policies: Subsequent Events, Policy (Policies)	6 Months Ended
	Jun. 30, 2021
Policies
Subsequent Events, Policy	Subsequent Events

Property and Equipment Disclo_2

Property and Equipment Disclosure: Schedule of Property and Equipment Balances (Tables)	6 Months Ended
	Jun. 30, 2021
Tables/Schedules
Schedule of Property and Equipment Balances	June 30, 2021 December 31, 2020 Equipment purchased from Razor Jacket, LLC in November 2020, stored in a warehouse in Oregon, and awaiting shipment and installation in the Company’s facilities in Dallas, Texas $ 500,000 $ 500,000 Equipment located in the Company’s facilities in Dallas, Texas 144,019 104,240 Leasehold improvements in the Company’s facilities in Dallas, Texas 2,500 2,500 Total property and equipment 646,519 606,740 Less: Accumulated depreciation (18,305) (7,255) Net property and equipment $ 628,214 $ 599,485

Notes Payable Disclosure_ Sched

Notes Payable Disclosure: Schedule of long-term debt obligations (Tables)	6 Months Ended
	Jun. 30, 2021
Tables/Schedules
Schedule of long-term debt obligations	June 30, 2021 December 31 2020 Promissory note issued to an accredited investor on November 10, 2020, accruing interest at 5% per annum, due on January 10, 2021, along with lending fee of 20,000 shares of common stock $ - $ 300,000 Convertible promissory notes issued to two accredited investors on November 15, 2019, maturing in 1 to 5 years, accruing interest at 5% per annum, convertible into common stock at $0.05 per share. 150,000 150,000 Unsecured advances received from two officers in May and June 2021, accruing interest at 1% per annum, payable on demand 250,000 - Convertible promissory notes issued to former owners in acquisition of Power Blockchain, accruing interest at 5% per annum, principal repayments originally due in four equal installments on 2nd, 3rd, 4th and 5th anniversaries, convertible into common stock at $0.13 per share, with final maturity on February 1, 2023. - 165,240 Other short term notes issued to various affiliates of the former owners of Power Blockchain for acquisition of Treasury Stock, computers and equipment, and working capital financing, at stated interest rates of 10%. Amended on November 15, 2019, to mature in one year and to be convertible into common stock at $0.05 per share. 48,386 351,933 Convertible notes issued to an accredited investor in three tranches from June to August 2020, net of unamortized debt discount of $43,306 (see further discussion below) - 46,694 Total notes payable $ 448,386 $ 1,013,867

Notes Payable Disclosure_ Futur

Notes Payable Disclosure: Future maturities of notes payable (Tables)	6 Months Ended
	Jun. 30, 2021
Tables/Schedules
Future maturities of notes payable	Year ending June 30, 2022 $ 298,386 Year ending June 30, 2023 - Year ending June 30, 2024 - Year ending June 30, 2025 150,000 $ 448,386

Going Concern Disclosure (Detai

Going Concern Disclosure (Details) - USD ($)	Jun. 30, 2021	Dec. 31, 2020
Details
Accumulated deficit	$ 6,723,174	$ 5,653,540

Intangible Assets Disclosure (D

Intangible Assets Disclosure (Details) - USD ($)	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2019
Additions to property and equipment	$ 39,779	$ 0
Sublicense agreement with Texas MDI
Stock issued in acquisition of assets, shares			140,000,000
Stock issued in acquisition of assets, value			$ 140,000
Additions to property and equipment			$ 135,000
Accrued liabilities, net	44,925
Sublicense agreement, gross	$ 170,075

Asset Acquisition Disclosure (D

Asset Acquisition Disclosure (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Dec. 31, 2020	Jun. 30, 2020
General and administrative	$ 527,278	$ 629,510	$ 1,029,201		$ 853,750
Asset Purchase and Sales Agreement with Razor Jacket, Cash Paid
General and administrative				$ 300,000
Asset Purchase and Sales Agreement with Razor Jacket, Stock Issued
Stock issued in acquisition of assets, shares				625,000
Asset Purchase and Sales Agreement with Razor Jacket, Stock Value
Stock issued, non-cash				$ 500,000

Property and Equipment Disclo_3

Property and Equipment Disclosure: Schedule of Property and Equipment Balances (Details) - USD ($)	Jun. 30, 2021	Dec. 31, 2020
Property and equipment, gross	$ 646,519	$ 606,740
Accumulated depreciation	(18,305)	(7,255)
Net property and equipment	628,214	599,485
Equipment purchased from Razor Jacket
Property and equipment, gross	500,000	500,000
Equipment located in the Company's facilities
Property and equipment, gross	144,019	104,240
Leasehold improvements in the Company's facilities
Property and equipment, gross	$ 2,500	$ 2,500

Notes Payable Disclosure_ Sch_2

Notes Payable Disclosure: Schedule of long-term debt obligations (Details) - USD ($)	Jun. 30, 2021	Dec. 31, 2020
Convertible notes payable - related party	$ 150,000	$ 315,240
Total notes payable	448,386	1,013,867
Promissory note issued to an accredited investor with stock
Convertible notes payable - related party		300,000
Promissory notes with two accredited investors
Convertible notes payable - related party	150,000	150,000
Unsecured advances received from two officers
Convertible notes payable - related party	250,000
Convertible promissory notes issued to former owners
Convertible notes payable - related party		165,240
Other short term notes issued to various affiliates
Convertible notes payable - related party	$ 48,386	351,933
Convertible promissory notes issued to accredited investors
Convertible notes payable - related party		$ 46,694

Notes Payable Disclosure (Detai

Notes Payable Disclosure (Details) - USD ($)	3 Months Ended	6 Months Ended
	Mar. 31, 2021	Jun. 30, 2021	Dec. 31, 2020	Jun. 30, 2020	Dec. 31, 2019
Convertible notes payable - related party		$ 150,000	$ 315,240
Stock issued for conversion of debt, value	$ 890,031				$ 2,034,760
Stock issued for accrued interest and lending fees, value	2,292
Stock issued for conversion of debt, shares					15,652,000
Issuance of notes payable		250,000		$ 0
Unsecured advances received from two officers
Convertible notes payable - related party		$ 250,000
Various notes in 2018 and 2019
Conversion price per share			$ 0.05
Stock issued for conversion of debt, value			$ 404,601
Stock issued for accrued interest and lending fees, value			$ 96,536
Stock issued for conversion of debt, shares			10,022,749
Convertible notes 2018 at $0.13
Conversion price per share		$ 0.13
Stock issued for conversion of debt, value	$ 410,888
Stock issued for conversion of debt, shares	3,160,684
Convertible notes 2019 at $0.05
Conversion price per share		$ 0.05
Stock issued for conversion of debt, value	$ 383,470
Stock issued for conversion of debt, shares	7,669,381
Securities Purchase Agreements Notes
Stock issued for conversion of debt, value			$ 35,000
Stock issued for conversion of debt, shares	264,520		80,775
Promissory notes with two accredited investors
Convertible notes payable - related party		$ 150,000	$ 150,000
Issuance of notes payable					$ 300,000

Stockholders' Equity Disclosu_2

Stockholders' Equity Disclosure (Details) - USD ($)	3 Months Ended				6 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2021	Dec. 31, 2020	Dec. 31, 2019
Stock issued for conversion of debt, value		$ 890,031					$ 2,034,760
Stock issued for accrued interest and lending fees, value		2,292
Stock issued for conversion of debt, shares							15,652,000
Private offering of common stock, value	$ 55,000	530,000	$ 240,000	$ 75,000
private stock subscription agreements with various accredited investors
Private offering of common stock, shares					1,462,500
Price per share sold	$ 0.40				$ 0.40
Private offering of common stock, value					$ 585,000
2020 Equity Incentive Plan
Common stock authorized under Stock Option Plan	250,000,000				250,000,000
2018 Stock Option Plan
Common stock authorized under Stock Option Plan	20,000,000				20,000,000
Various notes in 2018 and 2019
Conversion price per share						$ 0.05
Stock issued for conversion of debt, value						$ 404,601
Stock issued for accrued interest and lending fees, value						$ 96,536
Stock issued for conversion of debt, shares						10,022,749
Convertible notes 2018 at $0.13
Conversion price per share	$ 0.13				$ 0.13
Stock issued for conversion of debt, value		$ 410,888
Stock issued for conversion of debt, shares		3,160,684
Convertible notes 2019 at $0.05
Conversion price per share	$ 0.05				$ 0.05
Stock issued for conversion of debt, value		$ 383,470
Stock issued for conversion of debt, shares		7,669,381

Subsequent Events (Details)

Subsequent Events (Details) - USD ($)	Aug. 10, 2021	Aug. 10, 2021	Jul. 31, 2021	Jun. 30, 2020	Mar. 31, 2020
Share-based compensation, value				$ 339,584	$ 100,000
Restricted stock award
Share-based compensation, shares issued			25,000
Share-based compensation, value			$ 10,000
Original Issue Discount Convertible Debenture
Warrants issued with convertible debt	4,852,940
Proceeds from issuance of convertible debt	$ 1,650,000
Warrants exercise price	$ 0.40	$ 0.40
Placement Agent Agreement
Share-based compensation, shares issued		242,647
Share-based compensation, value		$ 132,000
Warrants exercise price	$ 0.40	$ 0.40