Tech Central (TCHC) 10-Q 14 Aug 19 2019 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2019	Aug. 14, 2019
Document And Entity Information
Entity Registrant Name	Tech Central, Inc.
Entity Central Index Key	0001639874
Document Type	10-Q
Document Period End Date	Jun. 30, 2019
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Is Entity's Reporting Status Current?	Yes
Entity Filer Category	Non-accelerated Filer
Entity Emerging Growth Company	true
Entity Small Business	true
Entity Ex Transition Period	false
Entity Shell company	false
Entity File Number	333-212438
Entity Incorporation, State Country Code	WY
Entity Interactive Data Current	Yes
Entity Common Stock, Shares Outstanding		22,315,250
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2019

Balance Sheet (Unaudited)

Balance Sheet (Unaudited) - USD ($)	Jun. 30, 2019	Dec. 31, 2018
Current Assets
Cash	$ 62,953	$ 30,085
Accounts receivable	15,250	20,250
Total Current Assets	78,203	50,335
Other Assets
Film Equipment net	5,582	7,870
Script, net	41,667	46,667
Total Other Assets	47,249	54,537
Total Assets	125,452	104,872
Current Liabilities
Accounts payable	37,730	5,800
Derivative Liability	234,205	0
Accrued Interest	752	0
Notes Payable net of discount	8,230	0
Total Current Liabilities	280,917	5,800
Total Liabilities	280,917	5,800
Commitments and Contingencies	0	0
Stockholders' Equity (Deficit)
Common stock $0.001 par value 75,000,000 shares authorized 22,315,250 shares issued and outstanding at June 30, 2019 and 8,836,250 shares authorized and outstanding December 31, 2018	22,316	18,837
Shares to be issued	0	173,950
Additional paid in capital	758,572	541,988
Accumulated Deficit	(936,353)	(635,703)
Total Stockholders' Equity (Deficit)	(155,465)	99,072
Total Liabilities and Stockholders' Equity (Deficit)	$ 125,452	$ 104,872

Balance Sheet (Unaudited) (Pare

Balance Sheet (Unaudited) (Parenthetical) - $ / shares	Jun. 30, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Common stock par value	$ .001	$ 0.001
Common stock shares authorized	75,000,000	75,000,000
Common stock shares issued	22,315,250	8,836,250
Common stock shares outstanding	22,315,250	8,836,250

Statements of Operations (Unaud

Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Revenue
Video Filming	$ 0	$ 19,500	$ 5,000	$ 24,700
Web Site Development	3,100	0	3,100	0
Total Revenue	3,100	19,500	8,100	24,700
Gross Profit	3,100	19,500	8,100	24,700
Operating Expenses
Depreciation and amortization	3,644	1,144	7,288	2,288
Computer and Internet	600	0	600	0
Production expense	20,000	0	20,000	0
Consulting fees	1,750	11,000	1,750	11,000
Commission	6,000	0	6,000	0
Professional Fees	5,997	4,037	14,094	14,134
Film Work	6,000	0	6,000	0
Marketing & advertising	55,580	0	55,580	599
Rent expense	150	100	300	250
General & Administrative	7,127	475	7,838	1,980
Total Expenses	106,848	16,756	119,450	30,251
Net Operating Income/Loss	(103,748)	2,744	(111,350)	(5,551)
Other Expense
Change in fair value of derivative	180,318	0	180,318	0
Interest on convertible note	752	0	752	0
Amortization of debt discount	8,230	0	8,230	0
Total other income/Expense	189,300	0	189,300	0
Net Income	$ (293,048)	$ 2,744	$ (300,650)	$ (5,551)
Basic and Diluted Loss Per Common Share	$ 0	$ 0	$ 0	$ 0
Weighted Average Shares Outstanding	22,315,250	8,836,250	22,315,250	8,836,250

Interim Statement Of Changes In

Interim Statement Of Changes In Shareholders' Equity (Deficit) (Unaudited) - USD ($)	Common Stock	Additional Paid-In Capital	Shares to be Issued	Retained Earnings	Total
Balances at beginning at Dec. 31, 2017	$ 8,837	$ 51,988		$ (34,863)	$ 25,962
Balances at beginning (in shares) at Dec. 31, 2017	8,836,250
Net Income (Loss)				(8,296)	(8,296)
Balances at ending at Mar. 31, 2018	$ 8,837	51,988		(43,159)	17,666
Balances at ending (in shares) at Mar. 31, 2018	8,836,250
Net Income (Loss)				2,744	2,744
Balances at ending at Jun. 30, 2018	$ 8,837	51,988		(40,415)	20,410
Balances at ending (in shares) at Jun. 30, 2018	8,836,250
Balances at beginning at Dec. 31, 2018	$ 8,837	541,988	173,950	(635,703)	99,072
Balances at beginning (in shares) at Dec. 31, 2018	18,836,250
Stock issued for Asset	$ 1,000	49,000	(50,000)
Stock issued for Asset (in shares)	1,000,000
Net Income (Loss)				(7,602)	(7,602)
Balances at ending at Mar. 31, 2019	$ 9,837	590,988	123,950	(643,305)	91,470
Balances at ending (in shares) at Mar. 31, 2019	19,836,250
Balances at beginning at Dec. 31, 2018	$ 8,837	541,988	173,950	(635,703)	99,072
Balances at beginning (in shares) at Dec. 31, 2018	18,836,250
Balances at ending at Jun. 30, 2019	$ 22,316	758,572		(936,353)	(155,465)
Balances at ending (in shares) at Jun. 30, 2019	22,315,250
Balances at beginning at Mar. 31, 2019	$ 9,837	590,988	123,950	(643,305)	91,470
Balances at beginning (in shares) at Mar. 31, 2019	19,836,250
Warrants issued with convertible note		46,113			46,113
Stock issued for Asset	$ 829	40,621	(41,450)
Stock issued for Asset (in shares)	829,000
Stock issued for services	$ 1,050	51,450	(52,500)
Stock issued for services (in shares)	1,050,000
Stock Issued for Private Offering	$ 600	29,400	(30,000)
Stock Issued for Private Offering (in shares)	600,000
Net Income (Loss)				(293,048)	(293,048)
Balances at ending at Jun. 30, 2019	$ 22,316	$ 758,572		$ (936,353)	$ (155,465)
Balances at ending (in shares) at Jun. 30, 2019	22,315,250

Statements of Cash Flows (Unaud

Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Cash Flows from Operating Activities
Net Income (Loss)	$ (300,650)	$ (5,551)
Adjustments to Reconcile Net Loss To Net Cash Provided by (Used In) Operating Activities:
Stock Issued for Services	0	0
Loss on note	123,438	0
Amortization of debt discount	8,230	0
Accounts receivable	5,000	(17,700)
Accounts Payable	31,930	18,350
Accrued Interest	752	0
Change in Derivative	56,880	0
Accumulated amortization & depreciation	7,288	2,288
Net Cash Provided by (used in) Operating Activities	(67,132)	(2,613)
FINANCING ACTIVITIES
Proceeds of convertible note	100,000	0
Net cash provided by Financing Activities	100,000	0
Increase (Decrease) in Cash	32,868	(2,613)
Cash at Beginning of Period	30,085	5,617
Cash at End of Period	62,953	3,004
Cash paid for Interest	0	0
Cash paid for income taxes	$ 0	$ 0

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2019
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note 1 – Summary of Significant Accounting Policies A summary of the significant accounting policies applied in the preparation of the accompanying financial statements follows. BUSINESS AND BASIS OF PRESENTATION Tech Central, Inc. ("TC") was incorporated under the laws of the State of Wyoming on April 28, 2014. TC was formed as a Media Company engaging in online video and photography content development and distribution; and website and mobile app technology integration design and development. BASIS OF PRESENTATION The accompanying financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America, and pursuant to the rules and regulations of the Securities and Exchange Commission (the "SEC") and reflect all adjustments, consisting of normal recurring adjustments, which management believes are necessary to fairly present the financial position, results of operations and cash flows of the Company as of June 30, 2019 and December 31, 2018. ESTIMATES The preparation of the financial statement in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect certain reported amounts. Accordingly, actual results could differ from those estimates. CASH AND CASH EQUIVALENTS The Company maintains a cash balance in a non-interest-bearing account that currently does not exceed federally insured limits. For the purpose of the statements of cash flows, all highly liquid investments with an original maturity of three months or less are considered to be cash equivalents. There were no cash equivalents as of June 30 , 2019 and December 31, 2018. PROPERTY AND EQUIPMENT The Company values its investment in property and equipment at cost less accumulated depreciation. Depreciation is computed primarily by the straight-line method over the estimated useful lives of the assets ranging from three to five years. INVENTORY Inventory is recorded at lower of cost or market; cost is computed on a first-in first-out basis. The company had no inventory as of June 30, 2019 and December 31, 2018. ACCOUNTS RECEIVABLE AND REVENUE Revenue consists substantially of fees earned from movies and videos that we have interests in and commercial video work. In accordance with ASC 606 we recognize revenue when we satisfy each performance obligation by transferring control of the promised goods or services to our customers. We recognize revenue from a sale or licensing arrangement of a film when we have transferred control of the licensing right to our customer; We recognize revenue from commercial video services rendered when we have transferred control of the commercial video work completed to our customer. FAIR VALUE OF FINANCIAL INSTRUMENTS AND DERIVATIVE FINANCIAL INSTRUMENTS We have adopted Accounting Standards Codification regarding Disclosure About Derivative Financial Instruments and Fair Value of Financial Instruments. The carrying amounts of cash, accounts payable, accrued expenses, and other current liabilities approximate fair value because of the short maturity of these items. These fair value estimates are subjective in nature and involve uncertainties and matters of significant judgment, and, therefore, cannot be determined with precision. Changes in assumptions could significantly affect these estimates. We do not hold or issue financial instruments for trading purposes, nor do we utilize derivative instruments in the management of foreign exchange, commodity price or interest rate market risks. FEDERAL INCOME TAXES Deferred income taxes are reported for timing differences between items of income or expense reported in the financial statements and those reported for income tax purposes in accordance with Accounting Standards Codification regarding Accounting for Income Taxes, which requires the use of the asset/liability method of accounting for income taxes. Deferred income taxes and tax benefits are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases, and for tax loss and credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Deferred taxes are provided for the estimated future tax effects attributable to temporary differences and carryforwards when realization is more likely than not. NET INCOME PER SHARE OF COMMON STOCK We have adopted Accounting Standards Codification regarding Earnings per Share, which requires presentation of basic and diluted EPS on the face of the income statement for all entities with complex capital structures and requires a reconciliation of the numerator and denominator of the basic EPS computation to the numerator and denominator of the diluted EPS computation. In the accompanying financial statements, basic earnings per share of common stock is computed by dividing net income by the weighted average number of shares of common stock outstanding during the period. Due to the net loss dilutive shares would be considered anti-dilutive and therefore basic equals diluted. IMPAIRMENT OF LONG-LIVED ASSETS The Company evaluates the recoverability of long-lived assets and the related estimated remaining lives at each balance sheet date. The Company records an impairment or change in useful life whenever events or changes in circumstances indicate that the carrying amount may not be recoverable or the useful life has changed. STOCK BASED COMPENSATION The Company recognizes stock-based compensation in accordance with ASC Topic 718 "Stock Compensation", which requires the measurement and recognition of compensation expense for all share-based payment awards made to employees and directors including employee stock options and employee stock purchases related to an Employee Stock Purchase Plan based on the estimated fair values. For non-employee stock-based compensation, we have adopted ASC Topic 505 "Equity-Based Payments to Non-Employees", which requires stock-based compensation related to non-employees to be accounted for based on the fair value of the related stock or options or the fair value of the services on the grant date, whichever is more readily determinable in accordance with ASC Topic 718. RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS We have adopted ASC 842, which provides accounting guidance related to leases which as of June 30, 2019, has no impact on our financial condition or results of operations. We have reviewed all other recent pronouncements and do not believe that they will have a material impact on our financial condition or results of operations.

Uncertainty, Going Concern

Uncertainty, Going Concern	6 Months Ended
	Jun. 30, 2019
Uncertainty Going Concern
Uncertainty, going concern	Note 2 - Uncertainty, going concern The Company's financial statements are prepared using generally accepted accounting principles in the United States of America applicable to a going concern which contemplates the realization of assets and liquidation of liabilities in the normal course of business. The Company has not yet established an ongoing source of revenues sufficient to cover its operating costs to allow it to continue as a going concern and therefore, there is substantial doubt about the Company’s ability to continue as a going concern. As of June 30, 2019, the Company had accumulated deficit of $936,353. As of December 31, 2018, the Company had accumulated deficit of $635,703. The ability of the Company to continue as a going concern is dependent on the Company obtaining adequate capital to fund operating losses until it becomes profitable. If the Company is unable to obtain adequate capital, it could be forced to cease operations. In order to continue as a going concern, the Company will need, among other things, additional capital resources. The Company is contemplating conducting an offering of its debt or equity securities to obtain additional operating capital. The Company is dependent upon its ability, and will continue to attempt, to secure equity and/or debt financing. There are no assurances that the Company will be successful and without sufficient financing it would be unlikely for the Company to continue as a going concern. The ability of the Company to continue as a going concern is dependent upon its ability to successfully accomplish the plans described in the preceding paragraph and eventually secure other sources of financing and attain profitable operations. These financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts for amounts and classification of liabilities that might result from this uncertainty.

Equipment and Other Assets

Equipment and Other Assets	6 Months Ended
	Jun. 30, 2019
Property, Plant and Equipment [Abstract]
Equipment and Other Assets	Note 3- Equipment and Other Assets Equipment June 30, December 31, Equipment $ 22,884 $ 22,884 Accumulated Depreciation (17,302 ) (15,014 ) Net Equipment $ 5,582 $ 7,870 June 30, December 31, Script Acquisition $ 50,000 $ 50,000 Accumulated Amortization (8,333 ) (3,333 ) Net Equipment $ 41,667 $ 46,667 The Company purchased film equipment for $22,884, which is comprised of video, lighting and editing equipment. The depreciation expense for the three months ended June 30, 2019 was $1,144 and for June 30, 2018, $1,144 . The depreciation expense for the six months ended June 30, 2019 was $2,288 and for June 30, 2018, $2,288. The Company acquired a film script on August 20, 2018 for $50,000 which was paid for with 829,000 shares of stock valued at $.05. The amortization expense for three months ending June 30, 2019 was $2,500 and for the three months ending June 30, 2018 was $0. The amortization expense for six months ending June 30, 2019 was $5,000 and for the six months ending June 30, 2018 was $0.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note-4 - Commitments and Contingencies We have an employment agreement with our President Joe Lewis whereby he has agreed to take a salary when he has determined the Company has enough capital to pay a salary. At the quarter ended June 30, 2018 Joe Lewis had a payable of $10,000 for his services. On July 2, 2018 he was issued 10,000,000 shares. As of June 30, 2019, and December 31, 2018 there was no accrual of salaries.

Common Stock

Common Stock	6 Months Ended
	Jun. 30, 2019
Equity [Abstract]
Common Stock	Note 5 – Common Stock At the quarter ended June 30, 2019 the Company had 22,315,250 shares issued and outstanding. At the quarter ended June 30, 2018 the Company had 8,836,250 shares issued and outstanding. There were 10,000,000 common stock issuances during the year ended December 31, 2018 and 18,836,250 shares issued and outstanding. There were 2,479,000 shares issued in the quarter ending June 30, 2019 that were included at year end in shares to be issued. Name Date Issued Shares Issued Price per Share Total $ Amount Issued for Joe Lewis 7-3-18 10,000,000 $ .05 $ 500,000 Services Rising Phoenix 7-25-18 1,000,000 $ .05 $ 50,000 Consulting Services Darlene Riede 8-2-18 100,000 $ .05 $ 5,000 Services MCR Enterprises 8-16-18 500,000 $ .05 $ 25,000 Consulting Services Tala Media Corp 8-20-18 829,000 $ .05 $ 41,450 Script Asset Hannah Grabowski 11-12-18 250,000 $ .05 $ 12,500 Marketing Services Jeremy Woertnik 11-15-18 200,000 $ .05 $ 10,000 Services 777 Capital 12-31-18 600,000 $ .05 $ 30,000 Investment

Convertible Loan

Convertible Loan	6 Months Ended
	Jun. 30, 2019
Debt Disclosure [Abstract]
Convertible Loan	Note 6 – Convertible Loan Promissory Notes and Warrants – Issued for the six months ended June 30, 2019. During the six months ended June 30, 2019, the Company issued a total of $112,750 in promissory notes (“Notes”) which included an OID of $12,750 with the following terms: · Term of the note is 9 months. · Annual interest rate12%. · Note is convertible at the option of the holder at issuance, 240 days from issuance. · Conversion prices are typically based on the discounted (38% to 50% discount) average closing prices or lowest trading prices of the Company’s shares during various periods prior to conversion. The Company determined our derivative liabilities to be a Level 3 fair value measurement and used the Binomial lattice model pricing model to calculate the fair value as of June 30, 2019. The Black-Scholes model requires six basic data inputs: the exercise or strike price, time to expiration, the risk-free interest rate, the current stock price, the estimated volatility of the stock price in the future, and the dividend rate. Changes to these inputs could produce a significantly higher or lower fair value measurement. The fair value of each convertible note is estimated using the Black-Scholes valuation model. (See Note 7). Warrants were issued in conjunction with the convertible note on June 17, 2019 and were valued at $46,113.

Derivative Liabilities

Derivative Liabilities	6 Months Ended
	Jun. 30, 2019
Notes to Financial Statements
Derivative Liabilities	Note 7 - Derivative Liabilities The Company analyzed the conversion option for derivative accounting consideration under ASC 815, Derivatives and Hedging, and determined that the instrument should be classified as a liability since the conversion option becomes effective at issuance resulting in there being no explicit limit to the number of shares to be delivered upon settlement of the above conversion options. Fair Value Assumptions Used in Accounting for Derivative Liabilities. ASC 815 requires we assess the fair market value of derivative liability at the end of each reporting period and recognize any change in the fair market value as other income or expense item. The Company determined our derivative liabilities to be a Level 3 fair value measurement and used the Binomial lattice model pricing model to calculate the fair value as of June 30, 2019. The Binomial lattice model model requires six basic data inputs: the exercise or strike price, time to expiration, the risk-free interest rate, the current stock price, the estimated volatility of the stock price in the future, and the dividend rate. Changes to these inputs could produce a significantly higher or lower fair value measurement. The fair value of each convertible note is estimated using the Binomial lattice model valuation model. At June 30, 2019, the estimated fair values of the liabilities measured on a recurring basis are as follows: Six Months Ended June 30, 2019 Expected term 0.08 - 5.00 years Expected average volatility 187% - 451% Expected dividend yield — Risk-free interest rate 1.76% - 2.09% The following table summarizes the changes in the derivative liabilities during the six months ended June 30, 2019: Fair Value Measurements Using Significant Observable Inputs (Level 3) Balance - December 31, 2018 $ — Addition of new derivatives recognized as debt discounts 53,887 Addition of new derivatives recognized as loss on derivatives 123,438 Loss on change in fair value of the derivative 56,880 Balance - June 30, 2019 $ 234,205

Warrants

Warrants	6 Months Ended
	Jun. 30, 2019
Notes to Financial Statements
Warrants	Note 8 - Warrants Warrants A summary of activity regarding warrants issued as follows: Warrants Outstanding Weighted Average Shares Exercise Price Outstanding, December 31, 2018 — $ — Granted 451,000 0.25 Exercised — — Forfeited/canceled — — Outstanding, June 30, 2019 451,000 $ 0.25 The following table summarizes information relating to outstanding and exercisable warrants as of June 30, 2019. Warrants Outstanding Warrants Exercisable Number of Weighted Average Remaining Contractual life Weighted Average Number of Weighted Average Shares Exercise Price Shares Exercise Price 451,000 4.95 $ 0.25 451,000 $ 0.25 The warrants were issued in conjunction with the convertible note on June 17, 2019 and were valued at $46,113.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2019
Related Party Transactions [Abstract]
Related Party Transactions	Note 9– Related Party Transactions On July 3, 2018 ten million shares were issued to Joe Lewis, CEO for services at $.05 per share with a valuation of $500,000.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2019
Subsequent Events [Abstract]
Subsequent Events	Note 10– Subsequent Events Management has reviewed events between June 30, 2019 to the date that the financials were available to be issued, and there were no significant events identified for disclosure.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2019
Accounting Policies [Abstract]
BUSINESS AND BASIS OF PRESENTATION	BUSINESS AND BASIS OF PRESENTATION Tech Central, Inc. ("TC") was incorporated under the laws of the State of Wyoming on April 28, 2014. TC was formed as a Media Company engaging in online video and photography content development and distribution; and website and mobile app technology integration design and development.
BASIS OF PRESENTATION	BASIS OF PRESENTATION The accompanying financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America, and pursuant to the rules and regulations of the Securities and Exchange Commission (the "SEC") and reflect all adjustments, consisting of normal recurring adjustments, which management believes are necessary to fairly present the financial position, results of operations and cash flows of the Company as of June 30, 2019 and December 31, 2018.
ESTIMATES	ESTIMATES The preparation of the financial statement in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect certain reported amounts. Accordingly, actual results could differ from those estimates.
CASH AND CASH EQUIVALENTS	CASH AND CASH EQUIVALENTS The Company maintains a cash balance in a non-interest-bearing account that currently does not exceed federally insured limits. For the purpose of the statements of cash flows, all highly liquid investments with an original maturity of three months or less are considered to be cash equivalents. There were no cash equivalents as of June 30 , 2019 and December 31, 2018.
PROPERTY AND EQUIPMENT	PROPERTY AND EQUIPMENT The Company values its investment in property and equipment at cost less accumulated depreciation. Depreciation is computed primarily by the straight-line method over the estimated useful lives of the assets ranging from three to five years.
INVENTORY	INVENTORY Inventory is recorded at lower of cost or market; cost is computed on a first-in first-out basis. The company had no inventory as of June 30, 2019 and December 31, 2018.
ACCOUNTS RECEIVABLE AND REVENUE	ACCOUNTS RECEIVABLE AND REVENUE Revenue consists substantially of fees earned from movies and videos that we have interests in and commercial video work. In accordance with ASC 606 we recognize revenue when we satisfy each performance obligation by transferring control of the promised goods or services to our customers. We recognize revenue from a sale or licensing arrangement of a film when we have transferred control of the licensing right to our customer; We recognize revenue from commercial video services rendered when we have transferred control of the commercial video work completed to our customer.
FAIR VALUE OF FINANCIAL INSTRUMENTS AND DERIVATIVE FINANCIAL INSTRUMENTS	FAIR VALUE OF FINANCIAL INSTRUMENTS AND DERIVATIVE FINANCIAL INSTRUMENTS We have adopted Accounting Standards Codification regarding Disclosure About Derivative Financial Instruments and Fair Value of Financial Instruments. The carrying amounts of cash, accounts payable, accrued expenses, and other current liabilities approximate fair value because of the short maturity of these items. These fair value estimates are subjective in nature and involve uncertainties and matters of significant judgment, and, therefore, cannot be determined with precision. Changes in assumptions could significantly affect these estimates. We do not hold or issue financial instruments for trading purposes, nor do we utilize derivative instruments in the management of foreign exchange, commodity price or interest rate market risks.
FEDERAL INCOME TAXES	FEDERAL INCOME TAXES Deferred income taxes are reported for timing differences between items of income or expense reported in the financial statements and those reported for income tax purposes in accordance with Accounting Standards Codification regarding Accounting for Income Taxes, which requires the use of the asset/liability method of accounting for income taxes. Deferred income taxes and tax benefits are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases, and for tax loss and credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Deferred taxes are provided for the estimated future tax effects attributable to temporary differences and carryforwards when realization is more likely than not.
NET INCOME PER SHARE OF COMMON STOCK	NET INCOME PER SHARE OF COMMON STOCK We have adopted Accounting Standards Codification regarding Earnings per Share, which requires presentation of basic and diluted EPS on the face of the income statement for all entities with complex capital structures and requires a reconciliation of the numerator and denominator of the basic EPS computation to the numerator and denominator of the diluted EPS computation. In the accompanying financial statements, basic earnings per share of common stock is computed by dividing net income by the weighted average number of shares of common stock outstanding during the period. Due to the net loss dilutive shares would be considered anti-dilutive and therefore basic equals diluted.
IMPAIRMENT OF LONG-LIVED ASSETS	IMPAIRMENT OF LONG-LIVED ASSETS The Company evaluates the recoverability of long-lived assets and the related estimated remaining lives at each balance sheet date. The Company records an impairment or change in useful life whenever events or changes in circumstances indicate that the carrying amount may not be recoverable or the useful life has changed.
STOCK BASED COMPENSATION	STOCK BASED COMPENSATION The Company recognizes stock-based compensation in accordance with ASC Topic 718 "Stock Compensation", which requires the measurement and recognition of compensation expense for all share-based payment awards made to employees and directors including employee stock options and employee stock purchases related to an Employee Stock Purchase Plan based on the estimated fair values. For non-employee stock-based compensation, we have adopted ASC Topic 505 "Equity-Based Payments to Non-Employees", which requires stock-based compensation related to non-employees to be accounted for based on the fair value of the related stock or options or the fair value of the services on the grant date, whichever is more readily determinable in accordance with ASC Topic 718.
RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS	ECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS We have adopted ASC 842, which provides accounting guidance related to leases which as of June 30, 2019, has no impact on our financial condition or results of operations. We have reviewed all other recent pronouncements and do not believe that they will have a material impact on our financial condition or results of operations.

Equipment and Other Assets (Tab

Equipment and Other Assets (Tables)	6 Months Ended
	Jun. 30, 2019
Property, Plant and Equipment [Abstract]
Equipment	Equipment June 30, December 31, Equipment $ 22,884 $ 22,884 Accumulated Depreciation (17,302 ) (15,014 ) Net Equipment $ 5,582 $ 7,870
Script	June 30, December 31, Script Acquisition $ 50,000 $ 50,000 Accumulated Amortization (8,333 ) (3,333 ) Net Equipment $ 41,667 $ 46,667

Common Stock (Tables)

Common Stock (Tables)	6 Months Ended
	Jun. 30, 2019
Equity [Abstract]
Common Stock issued and shares to be issued	Name Date Issued Shares Issued Price per Share Total $ Amount Issued for Joe Lewis 7-3-18 10,000,000 $ .05 $ 500,000 Services Rising Phoenix 7-25-18 1,000,000 $ .05 $ 50,000 Consulting Services Darlene Riede 8-2-18 100,000 $ .05 $ 5,000 Services MCR Enterprises 8-16-18 500,000 $ .05 $ 25,000 Consulting Services Tala Media Corp 8-20-18 829,000 $ .05 $ 41,450 Script Asset Hannah Grabowski 11-12-18 250,000 $ .05 $ 12,500 Marketing Services Jeremy Woertnik 11-15-18 200,000 $ .05 $ 10,000 Services 777 Capital 12-31-18 600,000 $ .05 $ 30,000 Investment

Derivative Liabilities (Tables)

Derivative Liabilities (Tables)	6 Months Ended
	Jun. 30, 2019
Notes to Financial Statements
Fair values of liabilities	At June 30, 2019, the estimated fair values of the liabilities measured on a recurring basis are as follows: Six Months Ended June 30, 2019 Expected term 0.08 - 5.00 years Expected average volatility 187% - 451% Expected dividend yield — Risk-free interest rate 1.76% - 2.09%
Summary of changes in derivative liabilities	The following table summarizes the changes in the derivative liabilities during the six months ended June 30, 2019: Fair Value Measurements Using Significant Observable Inputs (Level 3) Balance - December 31, 2018 $ — Addition of new derivatives recognized as debt discounts 53,887 Addition of new derivatives recognized as loss on derivatives 123,438 Loss on change in fair value of the derivative 56,880 Balance - June 30, 2019 $ 234,205

Warrants (Tables)

Warrants (Tables)	6 Months Ended
	Jun. 30, 2019
Notes to Financial Statements
Summary of warrant activity	A summary of activity regarding warrants issued as follows: Warrants Outstanding Weighted Average Shares Exercise Price Outstanding, December 31, 2018 — $ — Granted 451,000 0.25 Exercised — — Forfeited/canceled — — Outstanding, June 30, 2019 451,000 $ 0.25
Summary of warrants outstanding and exercisable	The following table summarizes information relating to outstanding and exercisable warrants as of June 30, 2019. Warrants Outstanding Warrants Exercisable Number of Weighted Average Remaining Contractual life Weighted Average Number of Weighted Average Shares Exercise Price Shares Exercise Price 451,000 4.95 $ 0.25 451,000 $ 0.25

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details Narrative) - USD ($)	Jun. 30, 2019	Dec. 31, 2018
Accounting Policies [Abstract]
Cash equivalents	$ 0	$ 0
Inventory	$ 0	$ 0

Uncertainty, Going Concern (Det

Uncertainty, Going Concern (Details Narrative) - USD ($)	Jun. 30, 2019	Dec. 31, 2018
Uncertainty Going Concern
Retained Earnings (Accumulated Deficit)	$ (936,353)	$ (635,703)

Equipment and Other Assets (Det

Equipment and Other Assets (Details) - USD ($)	Jun. 30, 2019	Dec. 31, 2018
Property, Plant and Equipment [Abstract]
Equipment	$ 22,884	$ 22,884
Accumulated Depreciation	(17,302)	(15,014)
Net Equipment	$ 5,582	$ 7,870

Equipment and Other Assets (D_2

Equipment and Other Assets (Details 1) - USD ($)	Jun. 30, 2019	Dec. 31, 2018
Script
Script Acquisition	$ 50,000	$ 50,000
Accumulated Amortization	(8,333)	(3,333)
Net Equipment	$ 41,667	$ 46,667

Equipment and Other Assets (D_3

Equipment and Other Assets (Details Narrative) - USD ($)	1 Months Ended	3 Months Ended		6 Months Ended
	Aug. 20, 2018	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Purchased film equipment				$ 22,884
Depreciation expense		$ 1,144	$ 1,144	2,288	$ 2,288
Amortization expense		$ 2,500	$ 0	$ 5,000	$ 0
Tala Media Corp [Member]
Stock issued for film script acquisition, value	$ 50,000
Stock issued for film script acquisition	829,000
Share Price	$ 0.05

Commitments and Contingencies (

Commitments and Contingencies (Details Narrative) - USD ($)	Jul. 02, 2018	Jun. 30, 2018	Jun. 30, 2019	Dec. 31, 2018
Accrual salaries			$ 0	$ 0
Stock issued for accrued payable, share	10,000,000
Joe Lewis [Member] | Chief Executive Officer [Member]
Payment for services		$ 10,000

Common Stock (Details)

Common Stock (Details)	3 Months Ended	6 Months Ended
	Jun. 30, 2019USD ($)$ / shares	Jun. 30, 2019USD ($)$ / sharesshares
Total Amount
Joe Lewis [Member]
Date Issued		Jul. 3, 2018
Shares Issued | shares		10,000,000
Price per Share | $ / shares	$ 0.05	$ 0.05
Total Amount		$ 500,000
Issued for		Services
Rising Phoenix [Member]
Date Issued		Jul. 25, 2018
Shares Issued | shares		1,000,000
Price per Share | $ / shares	0.05	$ 0.05
Total Amount		$ 50,000
Issued for		Consulting Services
Darlene Riede [Member]
Date Issued		Aug. 2, 2018
Shares Issued | shares		100,000
Price per Share | $ / shares	0.05	$ 0.05
Total Amount		$ 5,000
Issued for		Services
MCR Enterprises [Member]
Date Issued		Aug. 16, 2018
Shares Issued | shares		500,000
Price per Share | $ / shares	0.05	$ 0.05
Total Amount		$ 25,000
Issued for		Consulting Services
Tala Media Corp [Member]
Date Issued		Aug. 20, 2018
Shares Issued | shares		829,000
Price per Share | $ / shares	0.05	$ 0.05
Total Amount		$ 41,450
Issued for		Script Asset
Hannah Grabowski [Member]
Date Issued		Nov. 12, 2018
Shares Issued | shares		250,000
Price per Share | $ / shares	0.05	$ 0.05
Total Amount		$ 12,500
Issued for		Marketing Services
Jeremy Woertnik [Member]
Date Issued		Nov. 15, 2018
Shares Issued | shares		200,000
Price per Share | $ / shares	0.05	$ 0.05
Total Amount		$ 10,000
Issued for		Services
777 Capital [Member]
Date Issued		Dec. 31, 2018
Shares Issued | shares		600,000
Price per Share | $ / shares	$ 0.05	$ 0.05
Total Amount		$ 30,000
Issued for		Investment

Common Stock (Details Narrative

Common Stock (Details Narrative) - shares	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Equity [Abstract]
Common Stock Shares Issued for services	10,000,000	0
Common stock shares issued	22,315,250	8,836,250	8,836,250
Common stock shares outstanding	22,315,250	8,836,250	8,836,250

Convertible Loan (Details Narra

Convertible Loan (Details Narrative) - USD ($)	6 Months Ended
	Jun. 30, 2019	Jun. 17, 2019
Debt Disclosure [Abstract]
Warrants issued		46,113
Prmissory note issued	$ 112,750
OID issued	$ 12,750

Derivative Liabilities (Details

Derivative Liabilities (Details)	6 Months Ended
	Jun. 30, 2019
Expected dividend yield	0.00%
Minimum [Member]
Expected term	29 days
Expected average volatility	187.00%
Risk-free interest rate	1.76%
Maximum [Member]
Expected term	5 years
Expected average volatility	451.00%
Risk-free interest rate	2.09%

Derivative Liabilities (Detai_2

Derivative Liabilities (Details 1) - USD ($)	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Notes to Financial Statements
Balance - December 31, 2018	$ 0
Addition of new derivatives recognized as debt discounts	53,887
Addition of new derivatives recognized as loss on derivatives	123,438	$ 0
Loss on change in fair value of the derivative	56,880
Balance - June 30, 2019	$ 234,205

Warrants (Details)

Warrants (Details)	6 Months Ended
	Jun. 30, 2019$ / sharesshares
Number of warrants
Outstanding, December 31, 2018 | shares	0
Granted | shares	451,000
Exercised | shares	0
Forfeited/canceled | shares	0
Outstanding, June 30, 2019 | shares	451,000
Weighted Average Exercise Price
Outstanding, December 31, 2018 | $ / shares	$ 0
Granted | $ / shares	0.25
Exercised | $ / shares	0
Forfeited/canceled | $ / shares	0
Outstanding, June 30, 2019 | $ / shares	$ 0.25

Warrants (Details 1)

Warrants (Details 1) - $ / shares	6 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Notes to Financial Statements
Number of warrants outstanding	451,000	0
Weighted Average Remaining Contractual life (in years)	4 years 11 months 12 days
Weighted Average Exercise Price shares outstanding	$ 0.25	$ 0
Number of Warrants Exercisable	451,000
Weighted Average Exercise Price warrants exercisable	$ 0.25

Warrants (Details Narrative)

Warrants (Details Narrative)	Jun. 17, 2019shares
Notes to Financial Statements
Warrants issued	46,113

Related Party Transactions (Det

Related Party Transactions (Details Narrative) - USD ($)	Jul. 03, 2018	Jun. 30, 2019	Jun. 30, 2018
Common Shares Issued for services		10,000,000	0
Stock Issued for Services		$ 0	$ 0
Joe Lewis [Member]
Common Shares Issued for services	10,000,000
Stock Issued for Services	$ 500,000
Share Price	$ 0.05