Edgemode (EDGM) 10-Q 22 Aug 22 2022 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2022	Aug. 19, 2022
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Jun. 30, 2022
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2022
Current Fiscal Year End Date	--12-31
Entity File Number	000-55647
Entity Registrant Name	EDGEMODE, INC.
Entity Central Index Key	0001652958
Entity Tax Identification Number	47-4046237
Entity Incorporation, State or Country Code	NV
Entity Address, Address Line One	110 E. Broward Blvd.
Entity Address, Address Line Two	Suite 1700
Entity Address, City or Town	Ft. Lauderdale
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	33301
City Area Code	(707)
Local Phone Number	687-9093
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Elected Not To Use the Extended Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		383,930,340

Consolidated Balance Sheet (Una

Consolidated Balance Sheet (Unaudited) - USD ($)	Jun. 30, 2022	Dec. 31, 2021
Current assets:
Cash	$ 3,772	$ 23,942
Subscription receivable	0	158,850
Prepaid expenses and other current assets	152,183	22,373
Prepaid expenses and other current assets - related party	135,000	0
Prepaid hosting services	1,586,297	1,586,297
Total current assets	1,877,252	1,791,462
Intangible assets - cryptocurrencies	28,739	303,199
Equipment, net	2,586,612	3,520,443
Total assets	4,492,603	5,615,104
Current liabilities:
Accounts payable and accrued expenses	650,579	145,855
Accrued payroll	134,513	0
Accrued dividends	0	42,843
Equipment notes payable	1,068,567	932,273
Notes payable	35,000	1,657,580
Total current liabilities	1,888,659	2,778,551
Equipment notes payable, net of current	15,479	359,925
Total liabilities	1,904,138	3,138,476
Commitments and contingencies
Preferred shares of EdgeMode	0	341,730
Stockholders' equity:
Preferred shares, $0.001 par value, 4,999,000 and 5,000,000 shares authorized June 30, 2022 and December 31, 2021, respectively; zero 0 issued and outstanding June 30, 2022 and December 31, 2021	0	0
Common shares, 950,000,000 and 500,000,000 shares authorized, June 30, 2022 and December 31, 2021; Par value $0.001; 383,858,340 and 292,179,345 shares issued and outstanding, June 30, 2022 and December 31, 2021, respectively	383,858	292,179
Additional paid-in capital	33,283,891	5,476,850
Accumulated deficit	(31,079,284)	(3,634,131)
Stockholders' equity	2,588,465	2,134,898
Total liabilities and stockholders' equity	$ 4,492,603	$ 5,615,104

Consolidated Balance Sheet (U_2

Consolidated Balance Sheet (Unaudited) (Parenthetical) - $ / shares	Jun. 30, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Preferred Stock, par value	$ 0.001	$ 0.001
Preferred Stock, Shares Authorized	4,999,000	5,000,000
Preferred Stock, Shares Issued	0	0
Preferred Stock, Shares Outstanding	0	0
Common Stock, Shares Authorized	950,000,000	500,000,000
Common Stock, par value	$ 0.001	$ 0.001
Common Stock, Shares Issued	383,858,340	292,179,345
Common Stock, Shares Outstanding	383,858,340	292,179,345

Statements of Operations (Unaud

Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Income Statement [Abstract]
Revenue	$ 165,118	$ 500,692	$ 436,237	$ 569,068
Cost of revenue	382,908	401,629	806,678	479,110
Gross margin	(217,790)	99,063	(370,441)	89,958
Operating expenses:
General and administrative expenses	2,874,473	218,942	26,219,936	304,944
Loss on sale of equipment and impairment	617,036	0	617,036	0
Total operating expenses	3,491,509	218,942	26,836,972	304,944
Loss from operations	(3,709,299)	(119,879)	(27,207,413)	(214,986)
Other expense:
Interest expense	(34,987)	(46,154)	(79,827)	(64,353)
Gain (loss) on cryptocurrencies	(74,376)	(101,911)	(157,913)	(96,343)
Other expense	0	0	0	0
Total other expense, net	(109,363)	(148,065)	(237,740)	(160,696)
Loss before provision for income taxes	(3,818,662)	(267,944)	(27,445,153)	(375,682)
Provision for income taxes	0	0	0	0
Net loss	(3,818,662)	(267,944)	(27,445,153)	(375,682)
Preferred Dividends	0	(11,646)	0	(19,296)
Net loss to common shareholders	$ (3,818,662)	$ (279,590)	$ (27,445,153)	$ (394,978)

Statements of Operations (Una_2

Statements of Operations (Unaudited) (Parenthetical) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Income Statement [Abstract]
Earnings Per Share, Basic	$ (0.01)	$ 0	$ (0.07)	$ 0
Earnings Per Share, Diluted	$ (0.01)	$ 0	$ (0.07)	$ 0
Weighted Average Number of Shares Outstanding, Basic	383,839,659	219,792,053	366,092,454	206,181,429
Weighted Average Number of Shares Outstanding, Diluted	383,839,659	219,792,053	366,092,454	206,181,429

Statements of Changes in Stockh

Statements of Changes in Stockholder's Deficit (Unaudited) - USD ($)	Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Beginning balance, value at Dec. 31, 2020		$ 190,735	$ 245,576	$ (75,376)	$ 360,935
Beginning balance , shares at Dec. 31, 2020		190,734,649
Common shares issued in exchange for cash, shares		7,536,184
Preferred Shares issued in exchange for cash	$ 334,980
Preferred Shares issued in exchange for cash , shares	125,001
Contribution of Crytocurrency from related party			29,547		29,547
Stock-based compensation	6,750
Net loss				(107,738)	(107,738)
Common Shares issued in exchange for cash		7,536	258,959		266,495
Preferred dividends				(7,650)	(7,650)
Ending balance, value at Mar. 31, 2021	$ 341,730	$ 198,271	534,082	(190,764)	541,589
Ending balance , shares at Mar. 31, 2021	127,207	198,270,833
Beginning balance, value at Dec. 31, 2020		$ 190,735	245,576	(75,376)	360,935
Beginning balance , shares at Dec. 31, 2020		190,734,649
Net loss					(375,682)
Ending balance, value at Jun. 30, 2021	$ 341,730	$ 240,175	1,564,331	(470,354)	1,334,152
Ending balance , shares at Jun. 30, 2021	127,207	240,174,999
Beginning balance, value at Mar. 31, 2021	$ 341,730	$ 198,271	534,082	(190,764)	541,589
Beginning balance , shares at Mar. 31, 2021	127,207	198,270,833
Common shares issued in exchange for cash, shares		29,212,523
Common Shares issued in exchange for cryptocurrency		$ 793	26,693		27,486
Common shares issued in exchange for cryptocurrency, shares		793,248
Common Shares issued in for conversion of options		$ 11,898	(11,898)
Common Shares issued in for conversion of options , shares		11,898,395
Net loss				(267,944)	(267,944)
Common Shares issued in exchange for cash		29,213	1,015,454		1,044,667
Preferred dividends				(11,646)	(11,646)
Ending balance, value at Jun. 30, 2021	$ 341,730	$ 240,175	1,564,331	(470,354)	1,334,152
Ending balance , shares at Jun. 30, 2021	127,207	240,174,999
Beginning balance, value at Dec. 31, 2021	$ 341,730	$ 292,179	5,476,850	(3,634,131)	2,134,898
Beginning balance , shares at Dec. 31, 2021	127,207	292,179,345
Conversion of preferred shares into common	$ (341,730)	$ 20,797	363,776		384,573
Conversion of preferred shares into common, Shares	(127,207)
Conversion of preferred shares into common, shares		20,796,933
Common shares issued in exchange for cash		$ 1,495	503,519		505,014
Common shares issued in exchange for cash, shares		1,495,756
Common Shares issued in exchange for cryptocurrency		$ 79	49,921		50,000
Common shares issued in exchange for cryptocurrency, shares		78,638
Recapitalization of reverse merger		$ 69,258	2,600,694		2,669,952
Recapitalization of reverse merger, shares		69,257,668
Stock-based compensation			22,385,917		22,385,917
Net loss				(23,626,491)	(23,626,491)
Stock based compensation, shares	2,206
Ending balance, value at Mar. 31, 2022		$ 383,808	31,380,677	(27,260,622)	4,503,863
Ending balance , shares at Mar. 31, 2022		383,808,340
Beginning balance, value at Dec. 31, 2021	$ 341,730	$ 292,179	5,476,850	(3,634,131)	2,134,898
Beginning balance , shares at Dec. 31, 2021	127,207	292,179,345
Net loss					(27,445,153)
Ending balance, value at Jun. 30, 2022		$ 383,858	33,283,891	(31,079,284)	2,588,465
Ending balance , shares at Jun. 30, 2022		383,858,340
Beginning balance, value at Mar. 31, 2022		$ 383,808	31,380,677	(27,260,622)	4,503,863
Beginning balance , shares at Mar. 31, 2022		383,808,340
Common shares issued in exchange for cash, shares		50,000
Stock-based compensation			1,878,264		1,878,264
Net loss				(3,818,662)	(3,818,662)
Common Shares issued in exchange for cash		50	24,950		25,000
Ending balance, value at Jun. 30, 2022		$ 383,858	$ 33,283,891	$ (31,079,284)	$ 2,588,465
Ending balance , shares at Jun. 30, 2022		383,858,340

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Operating Activities:
Net loss	$ (27,445,153)	$ (375,682)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	627,770	226,410
Loss on sale of equipment and impairment	617,036	0
Stock-based compensation	24,264,181	6,750
Cryptocurrency used for compensation	91,898	0
Loss on cryptocurrency transactions	157,913	96,343
Changes in operating assets and liabilities:
Prepaid expenses and other current assets	19,770	(50,945)
Prepaid expenses and other current assets - related parties	(135,000)	0
Cryptocurrencies - mining	(436,237)	(569,068)
Accounts payable and accrued expenses	279,004	271,816
Accrued payroll	134,513	0
Net cash used in operating activities	(1,824,305)	(394,376)
Investing Activities:
Cash acquired in acquisition	743,513	0
Purchase of equipment	(370,976)	(1,009,863)
Proceeds from sale of equipment	60,000	0
Proceeds from sale of cryptocurrencies	510,886	304,284
Net cash provided by (used in) investing activities	943,423	(705,579)
Financing Activities:
Proceeds from issuance of common shares, net of offering costs	530,014	1,311,163
Proceeds from subscription receivable	158,850	0
Proceeds from issuance of preferred shares, net of offering costs	0	334,980
Payments on equipment notes payable	(208,152)	(645,746)
Proceeds from notes payable	380,000	80,000
Net cash provided by financing activities	860,712	1,080,397
Net change in cash	(20,170)	(19,558)
Cash - beginning of period	23,942	62,435
Cash - end of period	3,772	42,877
Supplemental Disclosures:
Interest paid	79,827	18,199
Income taxes paid	0	0
Supplemental Disclosures of Noncash Financing Information:
Shares issued for cryptocurrency assets	50,000	27,486
Equipment financed with notes payable	0	871,519
Conversion of preferred shares into common shares	384,573	0
Accrued dividends	0	19,296
Cryptocurrency assets contributed by related party	$ 0	$ 29,547

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2022
Basis Of Presentation
Basis of Presentation	NOTE 1 – Basis of Presentation The accompanying unaudited interim financial statements of EdgeMode, Inc. (formerly known as Fourth Wave Energy, Inc.) (“we”, “our”, or the “Company”) have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules of the Securities and Exchange Commission (“SEC”), and should be read in conjunction with the audited financial statements and notes thereto contained in the Company’s Annual Report filed with the SEC on Form 10-K and the annual financial statements of EdgeMode filed with the SEC on Form 8-K. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and the results of operations for the interim periods presented have been reflected herein. The results of operations for our interim periods are not necessarily indicative of the results to be expected for the full year. Notes to the financial statements that would substantially duplicate the disclosure contained in the audited financial statements for fiscal 2021, as reported in the Form 10-K and Form 8-K of the Company, have been omitted. On March 20, 2020, shareholders owning a majority of the Company's outstanding shares of common stock amended the Company's Articles of Incorporation to change the name of the Company from Pierre Corp. to Fourth Wave Energy, Inc. In connection with the acquisition of FWI in March 2020, the Company entered into consulting agreements with certain founders of FWI. The consulting agreements require the Company to collectively pay $379,850 in consulting fees during the terms of the consulting agreements. In March 2021 the Company agreed to sell the FWI technologies and its business plan to GeoSolar Technologies, Inc. a Colorado corporation (“GST”) in exchange for 10,000,000 shares of GST common stock (the “GST Shares”), such GST Shares distributable to the Company’s shareholders. As a part of this transaction, the consultants agreed to release the Company from any liability for any consulting fees owed to them by the Company and return a portion of the Company’s common stock held by such consultants. During the year ended December 31, 2021, 4,700,000 Ex-Dividend Date: 12/06/2021 Record Date: 12/07/2021 Distribution Date: 12/14/2021 Effective January 31, 2022 (the “Effective Time”), the Company, FWAV Acquisition Corp., a Wyoming corporation and wholly owned subsidiary of the Company (the “Acquisition Subsidiary”) and EdgeMode, a Wyoming corporation (“EdgeMode Wyoming”) closed an Agreement and Plan of Merger and Reorganization dated December 2, 2021 (the “Merger Agreement”). In accordance with the Merger Agreement, Acquisition Subsidiary merged with and into EdgeMode Wyoming (the “Merger” or “Transaction”), with EdgeMode remaining as the surviving entity after the Merger and becoming a wholly owned subsidiary of the Company. In the Merger, the shares of common stock, no par value per share, of EdgeMode Wyoming issued and outstanding immediately prior to the Effective Time, represent 80% of the Company’s outstanding common stock on a fully diluted basis (or 313,950,672 shares of common stock). Furthermore, pursuant to the terms of the Merger the Company’s sole shareholder of the Company’s preferred stock converted such shares into 1,000 Joseph Isaacs, the Company’s sole officer and director resigned as an executive officer and director. Pursuant to the terms of the Merger Mr. Isaacs will provide services to the Company in a consultancy capacity at a fee of $11,500 per month and has been issued a stock option grant to purchase up to 19,987,095 0.40 250,000 Simultaneously with the Merger, approximately $ 4,574,132 18,296,528 988,000 The merger was accounted for as a reverse merger, whereby EdgeMode Wyoming was considered the accounting acquirer and became our wholly-owned subsidiary. In accordance with the accounting treatment for a “reverse merger”, the Company’s historical financial statements prior to the reverse merger has been replaced with the historical financial statements of EdgeMode Wyoming prior to the reverse merger. The financial statements after completion of the reverse merger include the assets, liabilities, and results of operations of the combined company from and after the closing date of the reverse merger, with only certain aspects of pre-consummation stockholders’ equity remaining in the consolidated financial statements. On June 3, 2022 the Company changed its name from Fourth Wave Energy Inc. to Edgemode, Inc.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	NOTE 2 – Summary of Significant Accounting Policies Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make certain estimates and assumptions that affect the amounts reported in the financial statements and footnotes thereto. Actual results could materially differ from these estimates. It is reasonably possible that changes in estimates will occur in the near term. Principals of Consolidation The accompanying consolidated financial statements include the accounts of Fourth Wave Energy, Inc. and the accounts of its 100% owned subsidiary, EdgeMode. All intercompany transactions and balances have been eliminated in consolidation. Fair Value Measurements Generally accepted accounting principles define fair value as the price that would be received to sell an asset or be paid to transfer a liability in an orderly transaction between market participants at the measurement date (exit price) and such principles also establish a fair value hierarchy that prioritizes the inputs used to measure fair value using the following definitions (from highest to lowest priority): · Level 1 – Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. · Level 2 – Observable inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly, including quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data by correlation or other means. · Level 3 – Prices or valuation techniques requiring inputs that are both significant to the fair value measurement and unobservable. The Company has no assets or liabilities valued using level 1, level 2, or level 3 inputs as of June 30, 2022. Revenue Recognition We recognize revenue in accordance with ASC 606, Revenue from Contracts with Customers. This standard provides a single comprehensive model to be used in the accounting for revenue arising from contracts with customers and supersedes current revenue recognition guidance, including industry-specific guidance. The standard’s stated core principle is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. To achieve this core principle, ASC 606 includes provisions within a five-step model that includes identifying the contract with a customer, identifying the performance obligations in the contract, determining the transaction price, allocating the transaction price to the performance obligations, and recognizing revenue when, or as, an entity satisfies a performance obligation. The Company has entered into digital asset mining pools by executing contracts, as amended from time to time, with the mining pool operators to provide computing power to the mining pool. The contracts are terminable at any time by either party and the Company’s enforceable right to compensation only begins when the Company provides computing power to the mining pool operator. In exchange for providing computing power, the Company is entitled to a fractional share of the fixed cryptocurrency award the mining pool operator receives (less digital asset transaction fees to the mining pool operator which are recorded as a component of cost of revenues), for successfully adding a block to the blockchain. The terms of the agreement provides that neither party can dispute settlement terms after thirty-five days following settlement. The Company’s fractional share is based on the proportion of computing power the Company contributed to the mining pool operator to the total computing power contributed by all mining pool participants in solving the current algorithm. Providing computing power in digital asset transaction verification services is an output of the Company’s ordinary activities. The provision of providing such computing power is the only performance obligation in the Company’s contracts with mining pool operators. The transaction consideration the Company receives, if any, is noncash consideration, which the Company measures at fair value on the date received, which is not materially different than the fair value at contract inception or the time the Company has earned the award from the pools. The consideration is all variable. Because it is not probable that a significant reversal of cumulative revenue will not occur, the consideration is constrained until the mining pool operator successfully places a block (by being the first to solve an algorithm) and the Company receives confirmation of the consideration it will receive, at which time revenue is recognized. There is no significant financing component in these transactions. Fair value of the cryptocurrency award received is determined using the closing price of the related cryptocurrency on the day of receipt. There is currently no specific definitive guidance under GAAP or alternative accounting framework for the accounting for cryptocurrencies recognized as revenue or held, and management has exercised significant judgment in determining the appropriate accounting treatment. In the event authoritative guidance is enacted by the FASB, the Company may be required to change its policies, which could have an effect on the Company’s consolidated financial position and results from operations. Recent Accounting Pronouncements The Company does not believe that any recently issued effective pronouncements, or pronouncements issued but not yet effective, if adopted, would have a material effect on the accompanying financial statements.

Going Concern

Going Concern	6 Months Ended
	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Going Concern	NOTE 3 – Going Concern These financial statements are prepared on a going concern basis. The Company began operations in 2020 and incurred a cumulative loss since inception. The Company’s ability to continue is dependent upon management’s plan to raise additional funds and achieve profitable operations. These matters raise substantial doubt about the Company’s ability to continue as a going concern. The financial statements do not include any adjustments that might be necessary if the Company is not able to continue as a going concern.

Reverse Merger Transaction

Reverse Merger Transaction	6 Months Ended
	Jun. 30, 2022
Reverse Merger Transaction
Reverse Merger Transaction	NOTE 4 – Reverse Merger Transaction Pursuant to the terms of the Merger Agreement, and in exchange for all 100% of the issued and outstanding shares of EdgeMode Wyoming, the shareholders of EdgeMode received an aggregate of 313,950,672 shares of common stock, par value $.001 per share, of the Company. Prior to the Merger, EdgeMode Wyoming was authorized to issue 300,000 shares of preferred stock with no par value per share, of which 261,438 were designated as Series Seed Preferred Stock (“Series Seed Preferred”). Immediately prior to the Merger, the holders of the Series Seed Preferred stock converted the shares into 261,438 shares of EdgeMode Wyoming common stock. As a result of the Reverse Merger, the Company has acquired the following assets and liabilities which were recorded at the pre-combination carrying basis. The assets acquired and liabilities assumed are as follows: Schedule of assets acquired and liabilities January 31, 2022 Cash $ 743,513 Prepaids 149,580 Note receivable - EdgeMode 2,040,447 Accounts payable (7,774 ) Other accrued Expenses (196,500 ) Accrued interest (24,314 ) Notes payable (35,000 ) Total identified net assets $ 2,669,952

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2022
Related Party Transactions [Abstract]
Related Party Transactions	NOTE 5 – Related Party Transactions Pursuant to the terms of the Merger Mr. Isaacs will provide services to the Company in a consultancy capacity at a fee of $11,500 per month and has been issued a stock option grant to purchase up to 19,987,095 shares of the Company’s common stock, vesting in 90 days, at an exercise price of $0.40 per share. The consulting agreement may be terminated by the Company without cause after three months. In addition, Mr. Isaacs received a $250,000 cash bonus and the Company entered into a contract with a company owed by Joe Isaacs to perform services for total value of $240,000, which was paid in advance. As of June 30, 2022, $ 135,000 During the six months ended June 30, 2022, the Company granted options to the officers and a consultant of the Company to purchase up to 65,920,895 As of June 30, 2022 the Company owed the executive officers of the Company $ 134,513

Prepaid Hosting Services

Prepaid Hosting Services	6 Months Ended
	Jun. 30, 2022
Prepaid Hosting Services
Prepaid Hosting Services	NOTE 6 – Prepaid Hosting Services Prepaid hosting services are amounts paid to secure the use of data hosting services at a future date or continuously over one or more future periods. When the prepaid hosting services are eventually consumed, they are charged to expense. As of June 30, 2022 the company has prepaid a total of $ 1,586,297

Fixed Assets

Fixed Assets	6 Months Ended
	Jun. 30, 2022
Property, Plant and Equipment [Abstract]
Fixed Assets	NOTE 7 – Fixed Assets Fixed assets are stated at cost and depreciated using the straight-line method over their estimated useful lives. When retired or otherwise disposed, the carrying value and accumulated depreciation of the fixed asset is removed from its respective accounts and the net difference less any amount realized from disposition, is reflected in earnings. Expenditures for maintenance and repairs which do not extend the useful lives of the related assets are expensed as incurred. As of June 30, 2022 and 2021 fixed assets were made up of the following: Schedule of fixed assets Estimated Useful Life June 30, December 31, (years) 2022 2021 Cryptomining equipment 2 5 $ 2,436,707 $ 2,615,721 Cryptomining equipment - not in service 1,610,139 1,737,186 4,046,846 4,352,907 Accumulated depreciation (1,460,234 ) (832,464 ) Net book value $ 2,586,612 $ 3,520,443 Total depreciation expense for the six months ended June 30, 2022 and 2021, was $ 627,770 226,410 As of June 30, 2022 the Company had $ 1,610,139 . During the six months ended June 30, 2022 the Company recorded an impairment cryptomining equipment in the amount of $ 617,036

Equity

Equity	6 Months Ended
	Jun. 30, 2022
Equity [Abstract]
Equity	NOTE 8 – Equity The Company has authorized 950,000,000 0.001 383,858,340 Preferred Shares We are authorized to issue 4,999,000 On March 26, 2020, the Company designated 1,000 shares of its original 5,000,000 authorized shares of Preferred Stock as Series A Preferred Stock (“Series A”) with a $0.001 par value. Each Series A Preferred share entitles the holder to vote on all matters submitted to a vote of the Company’s shareholders or with respect to actions that may be taken by written consent. The 1,000 shares of Series A shares have the voting power of 250% of the outstanding common shares at the time of any vote. The holders of the Series A shares are entitled to receive, when, as and if declared by the Board of Directors out of funds legally available, annual dividends payable in cash on the 31st day of December in each year, commencing on December 31, 2020 at the rate of $0.10 per share per year. As part of the recapitalization, the 1,000 shares were converted into common shares. On March 30, 2022, the Company reduced its authorized preferred shares from 5,000,000 4,999,000 1,000 Common Shares On March 30, 2022 the Company increased its authorized common shares from 500,000,000 950,000,000 During the six months ended June 30, 2022, the Company issued 1,624,394 580,014 1,230,000 During the six months ended June 30, 2022, the Company amortized $ 44,875 0 Stock Options During the six months ended June 30, 2022, the Company issued a stock option grant to purchase up to 85,907,990 24,219,306 849,996 0 The following table summarizes the stock option activity for the six months ended June 30, 2022: Schedule of option activity Options Weighted-Average Exercise Price Per Share Outstanding, December 31, 2021 137,473 $ 0.00 Granted 85,907,990 0.40 Exercised – – Forfeited – – Expired – – Outstanding, June 30, 2022 86,045,463 $ 0.40 As of June 30, 2022, the Company had 85,907,990 0 12,373 Stock Warrants The following table summarizes the stock warrant activity for the six months ended June 30, 2022: Schedule of warrant activity Warrants Weighted-Average Exercise Price Per Share Outstanding, December 31, 2021 9,442,857 $ 0.44 Granted 1,230,000 0.50 Exercised – – Forfeited – – Expired – – Outstanding, June 30, 2022 10,672,857 $ 0.45

Notes Payable

Notes Payable	6 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
Notes Payable	NOTE 9 – Notes Payable Notes Payable Pursuant to the merger agreement, the Company acquire outstanding note payables in the amount of $ 35,000 Simultaneously with the Merger, approximately $ 4,574,132 18,296,528 Equipment Notes Payable In February 2021, the Company entered into a financing agreement whereby the company agreed to purchase assets related to its crypto mining operations. The financing agreement required a down payment of $ 199,800 24 equal monthly payments 32,760 871,519 336,266 In May 2021, the Company entered into a financing agreement whereby the Company agreed to purchase assets related to its crypto mining operations. The financing agreement required a down payment of $ 299,808 23 equal monthly payments 39,528 1,148,237 507,663 In July 2021, the Company entered into a financing agreement whereby the company agreed to purchase assets related to its crypto mining operations. The financing agreement required a down payment of $ 100,800 24 equal monthly payments 15,660 421,835 240,117 The following table presents the future maturities and principal payments of all notes payable listed above for the next five years and thereafter are as follows: Schedule of future maturities and principal payments Year Principal Amount 2022 $ 724,122 2023 359,924 2024 – 2025 – 2026 – Remaining – Total $ 1,084,046

Cryptocurrency Assets

Cryptocurrency Assets	6 Months Ended
	Jun. 30, 2022
Cryptocurrency Assets
Cryptocurrency Assets	NOTE 10 – Cryptocurrency Assets The Company began cryptocurrency mining activities during the year ended December 31, 2021. In addition to mining activities, the Company conducts other business activities using its cryptocurrency assets as compensation. The below table represents the cryptocurrency activities during the six months ended June 30, 2022: Schedule of cryptocurrency activities Cryptocurrency at December 31, 2021 $ 303,199 Revenue recognized from cryptocurrency mined 436,237 Additions of cryptocurrency - sale of common stock 50,000 Proceeds from sale of cryptocurrencies (510,886 ) Cryptocurrency used for officer compensation (91,898 ) Realized loss on sale/exchange of cryptocurrencies (157,913 ) Cryptocurrency at June 30, 2022 $ 28,739

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	NOTE 11 – Commitments and Contingencies Legal Contingencies On February 8, 2022, the Company was notified of a potential lawsuit related to the termination of our Advisory Panel Membership agreement with Taylor Black Wealth, Ltd. (“Taylor”). The Company engaged Taylor for assistance with capital raises and was to be partially compensated with stock options, subject to vesting. Taylor claims that the Company terminated the agreement unlawfully and therefore are still entitled to the remaining unvested options which the Company believes to be cancelled. The total number of stock options being contested is 137,473

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2022
Subsequent Events [Abstract]
Subsequent Events	NOTE 12 – Subsequent Events Subsequent to June 30, 2022, the Company terminated all future purchase orders related to Ethereum mining equipment and related hosting services, as the Company will focus on Bitcoin mining. In addition, the Company has signed approximately $66M in purchase orders for additional Bitcoin mining equipment that it expects to be delivered in the second half of the year. Effective July 1, 2022, the Company terminated the agreements with the lender for the cryptomining equipment. On July 14, 2022, the Company sold 72,000 common shares for cash proceeds of $36,000. On July 20, 2022, the Company entered into a Series B Preferred Stock Purchase Agreement (the “Purchase Agreement”) dated July 18, 2022 with 1800 Diagonal Lending LLC, a Virginia limited liability company pursuant to which the Company issued and sold 78,750 shares of Series B Preferred Stock for a purchase price of $78,750. The proceeds from the sale of the Series B Preferred Stock shall be used for working capital. In addition, the Company paid $3,750 to the Investor and its counsel for legal and due diligence fees. Pursuant to the Purchase Agreement, the Investor may convert all or a portion of the outstanding Series B Preferred Stock into shares of the Company’s Common Stock beginning on the date which is 180 days after the issuance date of the Series B Preferred Stock into Common Stock; provided, however, that the Investor may not convert the Series B Preferred Stock to the extent that such conversion would result in beneficial ownership by the Investor and its affiliates of more than 4.99% of the Company’s issued and outstanding Common Stock. The Company will have the right, at the Company’s sole option, provided that an event of default has not occurred, to redeem all or any portion of the shares of Series B Preferred Stock, exercisable on not more than 3 Trading Days prior written notice to the holders of the Series B Preferred Stock, in full. If the Company redeems the shares of Series B Preferred Stock within 90 days of its issuance, the Company must pay all of the principal at a cash redemption premium of 120%; if such prepayment is made between the 91st day and the 180th day after the issuance of the Series B Preferred Stock, then such redemption premium is 125%. After the 180th day following the issuance date, there shall be no further right of optional redemption. On the date which is the earlier of: (i) twelve (12) months following the issuance date; or (ii) at the option of the Investor, upon the occurrence of an Event of Default as defined under the Certificate of Designation (the “Mandatory Redemption Date”), the Company shall redeem all of the shares of Series B Preferred Stock of the Investor (which have not been previously redeemed or converted). With five (5) days of the Mandatory Redemption Date, the Company shall make payment to the Investor of an amount in cash equal to the total number of shares of Series B Preferred Stock held by such Investor multiplied by the then current Stated Value as adjusted pursuant to the terms hereof (including but not limited to the addition of any accrued unpaid dividends and any default adjustments. An Event of Default includes the Company’s failure to pay a mandatory redemption amount, comply with its SEC reporting obligations and any bankruptcy or liquidation.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make certain estimates and assumptions that affect the amounts reported in the financial statements and footnotes thereto. Actual results could materially differ from these estimates. It is reasonably possible that changes in estimates will occur in the near term.
Principals of Consolidation	Principals of Consolidation The accompanying consolidated financial statements include the accounts of Fourth Wave Energy, Inc. and the accounts of its 100% owned subsidiary, EdgeMode. All intercompany transactions and balances have been eliminated in consolidation.
Fair Value Measurements	Fair Value Measurements Generally accepted accounting principles define fair value as the price that would be received to sell an asset or be paid to transfer a liability in an orderly transaction between market participants at the measurement date (exit price) and such principles also establish a fair value hierarchy that prioritizes the inputs used to measure fair value using the following definitions (from highest to lowest priority): · Level 1 – Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. · Level 2 – Observable inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly, including quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data by correlation or other means. · Level 3 – Prices or valuation techniques requiring inputs that are both significant to the fair value measurement and unobservable. The Company has no assets or liabilities valued using level 1, level 2, or level 3 inputs as of June 30, 2022.
Revenue Recognition	Revenue Recognition We recognize revenue in accordance with ASC 606, Revenue from Contracts with Customers. This standard provides a single comprehensive model to be used in the accounting for revenue arising from contracts with customers and supersedes current revenue recognition guidance, including industry-specific guidance. The standard’s stated core principle is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. To achieve this core principle, ASC 606 includes provisions within a five-step model that includes identifying the contract with a customer, identifying the performance obligations in the contract, determining the transaction price, allocating the transaction price to the performance obligations, and recognizing revenue when, or as, an entity satisfies a performance obligation. The Company has entered into digital asset mining pools by executing contracts, as amended from time to time, with the mining pool operators to provide computing power to the mining pool. The contracts are terminable at any time by either party and the Company’s enforceable right to compensation only begins when the Company provides computing power to the mining pool operator. In exchange for providing computing power, the Company is entitled to a fractional share of the fixed cryptocurrency award the mining pool operator receives (less digital asset transaction fees to the mining pool operator which are recorded as a component of cost of revenues), for successfully adding a block to the blockchain. The terms of the agreement provides that neither party can dispute settlement terms after thirty-five days following settlement. The Company’s fractional share is based on the proportion of computing power the Company contributed to the mining pool operator to the total computing power contributed by all mining pool participants in solving the current algorithm. Providing computing power in digital asset transaction verification services is an output of the Company’s ordinary activities. The provision of providing such computing power is the only performance obligation in the Company’s contracts with mining pool operators. The transaction consideration the Company receives, if any, is noncash consideration, which the Company measures at fair value on the date received, which is not materially different than the fair value at contract inception or the time the Company has earned the award from the pools. The consideration is all variable. Because it is not probable that a significant reversal of cumulative revenue will not occur, the consideration is constrained until the mining pool operator successfully places a block (by being the first to solve an algorithm) and the Company receives confirmation of the consideration it will receive, at which time revenue is recognized. There is no significant financing component in these transactions. Fair value of the cryptocurrency award received is determined using the closing price of the related cryptocurrency on the day of receipt. There is currently no specific definitive guidance under GAAP or alternative accounting framework for the accounting for cryptocurrencies recognized as revenue or held, and management has exercised significant judgment in determining the appropriate accounting treatment. In the event authoritative guidance is enacted by the FASB, the Company may be required to change its policies, which could have an effect on the Company’s consolidated financial position and results from operations.
Recent Accounting Pronouncements	Recent Accounting Pronouncements The Company does not believe that any recently issued effective pronouncements, or pronouncements issued but not yet effective, if adopted, would have a material effect on the accompanying financial statements.

Reverse Merger Transaction (Tab

Reverse Merger Transaction (Tables)	6 Months Ended
	Jun. 30, 2022
Reverse Merger Transaction
Schedule of assets acquired and liabilities	Schedule of assets acquired and liabilities January 31, 2022 Cash $ 743,513 Prepaids 149,580 Note receivable - EdgeMode 2,040,447 Accounts payable (7,774 ) Other accrued Expenses (196,500 ) Accrued interest (24,314 ) Notes payable (35,000 ) Total identified net assets $ 2,669,952

Fixed Assets (Tables)

Fixed Assets (Tables)	6 Months Ended
	Jun. 30, 2022
Property, Plant and Equipment [Abstract]
Schedule of fixed assets	Schedule of fixed assets Estimated Useful Life June 30, December 31, (years) 2022 2021 Cryptomining equipment 2 5 $ 2,436,707 $ 2,615,721 Cryptomining equipment - not in service 1,610,139 1,737,186 4,046,846 4,352,907 Accumulated depreciation (1,460,234 ) (832,464 ) Net book value $ 2,586,612 $ 3,520,443

Equity (Tables)

Equity (Tables)	6 Months Ended
	Jun. 30, 2022
Equity [Abstract]
Schedule of option activity	Schedule of option activity Options Weighted-Average Exercise Price Per Share Outstanding, December 31, 2021 137,473 $ 0.00 Granted 85,907,990 0.40 Exercised – – Forfeited – – Expired – – Outstanding, June 30, 2022 86,045,463 $ 0.40
Schedule of warrant activity	Schedule of warrant activity Warrants Weighted-Average Exercise Price Per Share Outstanding, December 31, 2021 9,442,857 $ 0.44 Granted 1,230,000 0.50 Exercised – – Forfeited – – Expired – – Outstanding, June 30, 2022 10,672,857 $ 0.45

Notes Payable (Tables)

Notes Payable (Tables)	6 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
Schedule of future maturities and principal payments	Schedule of future maturities and principal payments Year Principal Amount 2022 $ 724,122 2023 359,924 2024 – 2025 – 2026 – Remaining – Total $ 1,084,046

Cryptocurrency Assets (Tables)

Cryptocurrency Assets (Tables)	6 Months Ended
	Jun. 30, 2022
Cryptocurrency Assets
Schedule of cryptocurrency activities	Schedule of cryptocurrency activities Cryptocurrency at December 31, 2021 $ 303,199 Revenue recognized from cryptocurrency mined 436,237 Additions of cryptocurrency - sale of common stock 50,000 Proceeds from sale of cryptocurrencies (510,886 ) Cryptocurrency used for officer compensation (91,898 ) Realized loss on sale/exchange of cryptocurrencies (157,913 ) Cryptocurrency at June 30, 2022 $ 28,739

Basis of Presentation (Details

Basis of Presentation (Details Narrative) - USD ($)	1 Months Ended	6 Months Ended
	Jan. 31, 2022	Jun. 30, 2022
EdgeMode [Member]
Offsetting Assets [Line Items]
Debt Conversion, Converted Instrument, Amount	$ 4,574,132
Debt Conversion, Converted Instrument, Shares Issued	18,296,528
Repayments of Convertible Debt	$ 988,000
EdgeMode [Member] | Sole Shareholder [Member]
Offsetting Assets [Line Items]
Conversion of Stock, Shares Issued	1,000
EdgeMode [Member] | Joseph Isaacs [Member]
Offsetting Assets [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross	19,987,095
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price	$ 0.40
Bonus Paid	$ 250,000
Debt Conversion, Converted Instrument, Shares Issued	18,296,528
Agreement with GST [Member]
Offsetting Assets [Line Items]
Stock Redeemed or Called During Period, Shares		4,700,000

Reverse Merger Transaction (Det

Reverse Merger Transaction (Details) - EdgeMode [Member]	Jan. 31, 2022 USD ($)
Restructuring Cost and Reserve [Line Items]
Cash	$ 743,513
Prepaids	149,580
Note receivable - EdgeMode	2,040,447
Accounts payable	(7,774)
Other accrued Expenses	(196,500)
Accrued interest	(24,314)
Notes payable	(35,000)
Total identified net assets	$ 2,669,952

Related Party Transactions (Det

Related Party Transactions (Details Narrative) - USD ($)	6 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Prepaid expenses and other current assets - related party	$ 135,000	$ 0
Accrued payroll	$ 134,513	$ 0
Officers And A Consultant [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Net of Forfeitures	65,920,895

Prepaid Hosting Services (Detai

Prepaid Hosting Services (Details Narrative) - USD ($)	Jun. 30, 2022	Dec. 31, 2021
Prepaid Hosting Services
Prepaid Expense, Current	$ 1,586,297	$ 1,586,297

Fixed Assets (Details)

Fixed Assets (Details) - USD ($)	6 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 4,046,846	$ 4,352,907
Accumulated depreciation	(1,460,234)	(832,464)
Net book value	2,586,612	3,520,443
Cryptomining Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 2,436,707	2,615,721
Cryptomining Equipment [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Life	2 years
Cryptomining Equipment [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Life	5 years
Cryptomining Equipment Not In Service [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 1,610,139	$ 1,737,186

Fixed Assets (Details Narrative

Fixed Assets (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Depreciation expense			$ 627,770	$ 226,410
Property, Plant and Equipment, Gross	$ 4,046,846		4,046,846		$ 4,352,907
Impairments of assets	617,036	$ 0	617,036	$ 0
Cryptomining Equipment Not In Service [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 1,610,139		$ 1,610,139		$ 1,737,186

Equity (Details - Option activi

Equity (Details - Option activity) - Options Held [Member]	6 Months Ended
	Jun. 30, 2022 $ / shares shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Options outstanding	137,473
Options outstanding | $ / shares	$ 0
Options granted	85,907,990
Options granted | $ / shares	$ 0.40
Options exercised	0
Options forfeited	0
Options expired	0
Options outstanding	86,045,463
Options outstanding | $ / shares	$ 0.40

Equity (Details - Warrant activ

Equity (Details - Warrant activity)	6 Months Ended
	Jun. 30, 2022 $ / shares shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Warrants Granted	85,907,990
Warrant [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Class of Warrant or Right, Outstanding Beginning Balance	9,442,857
Weight-Average Exercise Price Per Share Beginning Balance | $ / shares	$ 0.44
Warrants Granted	1,230,000
Weight-Average Exercise Price Per Share Granted | $ / shares	$ 0.50
Warrants Exercised	0
Warrants Forfeited	0
Warrants Expired	0
Class of Warrant or Right, Outstanding Ending Balance	10,672,857
Weight-Average Exercise Price Per Share Ending Balance | $ / shares	$ 0.45

Equity (Details Narrative)

Equity (Details Narrative) - USD ($)	6 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Class of Stock [Line Items]
Common Stock, Shares Authorized	950,000,000	500,000,000
Common Stock, par value	$ 0.001	$ 0.001
Common Stock, Shares Issued	383,858,340	292,179,345
Preferred Stock, Shares Authorized	4,999,000	5,000,000
Stock compensation expense	$ 44,875
Unrecognized expenses	$ 0
Stock option grant	85,907,990
Other expenses	$ 24,219,306
Revenue Recognition, Milestone Method, Revenue Recognized	849,996
Amortization	$ 0
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercisable, Number	85,907,990
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested and Expected to Vest, Exercisable, Aggregate Intrinsic Value	$ 0
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Intrinsic Value	12,373
Stock Issued For Cash And Crytocurrency [Member]
Class of Stock [Line Items]
Stock Issued During Period, Value, New Issues	1,624,394
Proceeds from Issuance or Sale of Equity	$ 580,014
Warrants issued, shares	1,230,000
Series A Preferred Stock [Member]
Class of Stock [Line Items]
Preferred Stock, Shares Authorized	1,000

Notes Payable (Details - Maturi

Notes Payable (Details - Maturity)	Jun. 30, 2022 USD ($)
Debt Disclosure [Abstract]
2022	$ 724,122
2023	359,924
2024	0
2025	0
2026	0
Remaining	0
Total	$ 1,084,046

Notes Payable (Details Narrativ

Notes Payable (Details Narrative) - USD ($)	1 Months Ended
	Jan. 31, 2022	Jul. 31, 2021	May 31, 2021	Feb. 28, 2021	Jun. 30, 2022
Equipment Note Payable 1 [Member]
Debt Instrument [Line Items]
Down payment				$ 199,800
Debt Instrument, Frequency of Periodic Payment				24 equal monthly payments
Periodic payment				$ 32,760
Present value note payable				$ 871,519
Notes Payable					$ 336,266
Equipment Note Payable 2 [Member]
Debt Instrument [Line Items]
Down payment			$ 299,808
Debt Instrument, Frequency of Periodic Payment			23 equal monthly payments
Periodic payment			$ 39,528
Present value note payable			$ 1,148,237
Notes Payable					507,663
Equipment Note Payable 3 [Member]
Debt Instrument [Line Items]
Down payment		$ 100,800
Debt Instrument, Frequency of Periodic Payment		24 equal monthly payments
Periodic payment		$ 15,660
Present value note payable		$ 421,835
Notes Payable					$ 240,117
EdgeMode [Member]
Debt Instrument [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-Term Debt	$ 35,000
Debt Conversion, Converted Instrument, Amount	$ 4,574,132
Debt Conversion, Converted Instrument, Shares Issued	18,296,528

Cryptocurrency Assets (Details)

Cryptocurrency Assets (Details)	6 Months Ended
	Jun. 30, 2022 USD ($)
Cryptocurrency Assets
Cryptocurrency, beginning balance	$ 303,199
Revenue recognized from cryptocurrency mined	436,237
Additions of cryptocurrency - sale of common stock	50,000
Proceeds from sale of cryptocurrencies	(510,886)
Cryptocurrency used for officer compensation	(91,898)
Realized gain on sale/exchange of cryptocurrencies	(157,913)
Cryptocurrency, ending balance	$ 28,739

Commitments and Contingencies (

Commitments and Contingencies (Details Narrative)	Feb. 08, 2022 shares
Commitments and Contingencies Disclosure [Abstract]
Stock options being contested	137,473