Edgemode (EDGM) 10-Q 15 May 23 2023 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Mar. 31, 2023	May 15, 2023
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Mar. 31, 2023
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2023
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	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		390,687,459

Consolidated Balance Sheet (Una

Consolidated Balance Sheet (Unaudited) - USD ($)	Mar. 31, 2023	Dec. 31, 2022
Current assets:
Cash	$ 13,705	$ 70
Prepaid expenses and other current assets	20,258	27,638
Prepaid hosting services	0	894,355
Deferred offering costs	264,706	264,706
Total current assets	298,669	1,186,769
Intangible assets - cryptocurrencies	32	2,630
Total assets	298,701	1,189,399
Current liabilities:
Accounts payable and accrued expenses	771,186	869,524
Accrued payroll	437,764	487,159
Accrued dividends	0	6,190
Equipment notes payable	1,179,972	1,179,972
Notes payable	35,000	35,000
Series B preferred shares liability, net	0	205,226
Total current liabilities	2,423,922	2,783,071
Total liabilities	2,423,922	2,783,071
Commitments and contingencies
Stockholders' equity (deficit):
Preferred shares, $0.001 par value, 4,999,000 shares authorized March 31, 2023 and December 31, 2022; none issued and outstanding	0	0
Common shares, $0.001 par value, 950,000,000 shares authorized March 31, 2023 and December 31, 2022; 390,687,459 and 390,437,459 shares issued and outstanding, March 31, 2023 and December 31, 2022	390,687	390,437
Additional paid-in capital	35,142,231	33,896,019
Accumulated deficit	(37,658,139)	(35,880,128)
Stockholders’ equity (deficit)	(2,125,221)	(1,593,672)
Total liabilities and stockholders’ equity (deficit)	$ 298,701	$ 1,189,399

Consolidated Balance Sheet (U_2

Consolidated Balance Sheet (Unaudited) (Parenthetical) - $ / shares	Mar. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Preferred Stock, par value	$ 0.001	$ 0.001
Preferred Stock, Shares Authorized	4,999,000	4,999,000
Preferred Stock, Shares Issued	0	0
Preferred Stock, Shares Outstanding	0	0
Common Stock, par value	$ 0.001	$ 0.001
Common Stock, Shares Authorized	950,000,000	950,000,000
Common Stock, Shares Issued	390,687,459	390,437,459
Common Stock, Shares Outstanding	390,687,459	390,437,459

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Income Statement [Abstract]
Revenue	$ 0	$ 271,119
Cost of revenue	0	423,770
Gross margin	0	(152,651)
Operating expenses:
General and administrative expenses	1,705,525	23,345,463
Loss on cryptocurrencies		83,537
Total operating expenses	1,705,525	23,429,000
Loss from operations	(1,705,525)	(23,581,651)
Other expense:
Interest expense	(7,274)	(44,840)
Penalty on redemption of Preferred B shares	(51,859)	0
Other expense	(3,378)	0
Loss on settlement	(9,975)	0
Total other expense, net	(72,486)	(44,840)
Loss before provision for income taxes	(1,778,011)	(23,626,491)
Provision for income taxes	0	0
Net loss	$ (1,778,011)	$ (23,626,491)
Loss per common share - basic	$ 0	$ (0.07)
Loss per common share - diluted	$ 0	$ (0.07)
Weighted average shares outstanding - basic	390,440,237	348,148,058
Weighted average shares outstanding - diluted	390,440,237	348,148,058

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity (Deficit) (Unaudited) - USD ($)	Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
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)	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)
Ending balance, value at Mar. 31, 2022	$ 0	$ 383,808	31,380,677	(27,260,622)	4,503,863
Ending balance , shares at Mar. 31, 2022	0	383,808,340
Beginning balance, value at Dec. 31, 2022	$ 0	$ 390,437	33,896,019	(35,880,128)	(1,593,672)
Beginning balance , shares at Dec. 31, 2022	0	390,437,459
Common shares issued for settlement of claims		$ 250	9,725		9,975
Common shares issued for settlement of claims, shares		250,000
Stock-based compensation			1,236,487		1,236,487
Net Loss				(1,778,011)	(1,778,011)
Ending balance, value at Mar. 31, 2023	$ 0	$ 390,687	$ 35,142,231	$ (37,658,139)	$ (2,125,221)
Ending balance , shares at Mar. 31, 2023	0	390,687,459

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Operating Activities:
Net loss	$ (1,778,011)	$ (23,626,491)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	0	313,883
Amortization of discounts	7,274	0
Penalty on redemption of Preferred B shares	51,859	0
Loss on settlement	9,975	0
Stock-based compensation	1,236,487	22,385,917
Cryptocurrency used for officer compensation	0	91,898
Loss on cryptocurrency transactions	0	83,537
Changes in operating assets and liabilities:
Prepaid expenses and other current assets	901,735	(128,580)
Cryptocurrencies - mining	0	(271,119)
Accounts payable and accrued expenses	(98,338)	41,034
Accrued payroll	(49,395)	0
Net cash provided by (used in) operating activities	281,586	(1,109,921)
Investing Activities:
Cash acquired in acquisition	0	743,513
Purchase of equipment	0	(370,976)
Proceeds from sale of cryptocurrencies	2,598	26,603
Net cash provided by (used in) investing activities	2,598	399,140
Financing Activities:
Proceeds from issuance of common shares, net of offering costs	0	505,014
Proceeds from subscription receivables	0	158,850
Payments on preferred B shares	(270,549)	0
Payments on equipment notes payable	0	(220,999)
Proceeds from notes payable	0	380,000
Net cash provided by financing activities	(270,549)	822,865
Net change in cash	13,635	112,084
Cash - beginning of period	70	23,942	$ 23,942
Cash - end of period	13,705	136,026	$ 70
Supplemental Disclosures:
Interest paid	0	44,840
Income taxes paid	0	0
Supplemental Disclosures of Noncash Financing Information:
Shares issued for cryptocurrency assets	0	50,000
Conversion of preferred shares into common shares	$ 0	$ 384,573

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2023
Basis Of Presentation
Basis of Presentation	Note 1. Basis of Presentation The accompanying unaudited interim financial statements of Edgemode, Inc. (“we”, “our”, “Edgemode” 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. 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 2022, as reported in the Form 10-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. 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”) closed on the previously disclosed 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 (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 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 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 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	3 Months Ended
	Mar. 31, 2023
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 Edgemode, Inc., the accounts of its 100% owned subsidiaries, EdgeMode and Edgemode Mine Co UK Limited. 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 March 31, 2023. 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 quoted price of the related cryptocurrency at the time 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. Stock-Based Compensation The Company accounts for equity instruments issued to employees in accordance with the provisions of ASC 718 Stock Compensation (ASC 718) and Equity-Based Payments to Non-employees pursuant to ASC 2018-07 (ASC 2018-07). All transactions in which the consideration provided in exchange for the purchase of goods or services consists of the issuance of equity instruments are accounted for based on the fair value of the consideration received or the fair value of the equity instrument issued, whichever is more reliably measurable. The measurement date of the fair value of the equity instrument issued is the earlier of the date on which the counterparty’s performance is complete or the date at which a commitment for performance by the counterparty to earn the equity instruments is reached because of sufficiently large disincentives for nonperformance. The Company accounts for equity-based transactions with non-employees under the provisions of ASC Topic No. 505-50, “Equity-Based Payments to Non-Employees” (“Topic No. 505-50”). Topic No. 505-50 establishes that equity-based payment transactions with non-employees shall be measured at the fair value of the consideration received or the fair value of the equity instruments issued, whichever is more reliably measurable. Deferred Offering Costs The Company has capitalized qualified direct costs related to its efforts to raise capital through a sale of its common stock in a private offering. Deferred offering costs will be deferred until the completion of the private offering, at which time they will be reclassified to additional paid-in capital as a reduction of the offering proceeds. If the Company terminates the planned offering or there is a significant delay, all of the deferred offering costs will be immediately written off to operating expenses. As of March 31, 2023, $ 264,706 Long-Lived Assets – Cryptocurrencies We account for our cryptocurrencies, intangible assets and long-term license agreement in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Subtopic 350-30, General Intangibles Other Than Goodwill, and ASC Subtopic 360-10-05, Accounting for the Impairment or Disposal of Long-Lived Assets. ASC Subtopic 350-30 requires assets to be measured based on the fair value of the consideration given or the fair value of the assets (or net assets) acquired, whichever is more clearly evident and, thus, more reliably measurable. Our cryptocurrencies are deemed to have an indefinite useful life; therefore amounts are not amortized, but rather are assessed for impairment as further discussed in our impairment policy. Under ASC Subtopic 350-30 any intangible asset with a useful life is required to be amortized over that life and the useful life is to be evaluated every reporting period to determine whether events or circumstances warrant a revision to the remaining period of amortization. If the estimate of useful life is changed the remaining carrying amount of the intangible asset is amortized prospectively over the revised remaining useful life. Costs of internally developing, maintaining, or restoring intangible assets are recognized as an expense when incurred. 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	3 Months Ended
	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Going Concern	Note 3 - Going Concern These financial statements have been prepared in accordance with generally accepted accounting principles applicable to a going concern, which assumes that the Company will be able to meet its obligations and continue its operations for its next fiscal year. Realization values may be substantially different from carrying values as shown and these financial statements do not give effect to adjustments that would be necessary to the carrying values and classification of assets and liabilities should the Company be unable to continue as a going concern. At March 31, 2023, the Company had not yet achieved profitable operations and expects to incur further losses in the development of its business, all of which raise substantial doubt about the Company’s ability to continue as a going concern. The Company’s ability to continue as a going concern is dependent upon its ability to generate future profitable operations and/or to obtain the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they come due. Management has no formal plan in place to address this concern but considers that the Company will be able to obtain additional funds by equity financing and/or related party advances, however there is no assurance of additional funding being available.

Related Party Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2023
Related Party Transactions [Abstract]
Related Party Transactions	NOTE 4 – Related Party Transactions The Company’s former CEO, Mr. Isaacs, agreed to provide services to the Company in a consultancy capacity at a fee of $11,500 per month and was issued a stock option grant to purchase up to 19,987,095 0.40 80,500 55,000 On January 25, 2023, the Company amended stock option grants dated January 31, 2022 to each of Charlie Faulkner and Simon Wajcenberg, the Chief Executive Officer and Chief Financial Officer of the Company, respectively. The amendment reduces the exercise price of the options from $ 0.40 0.06 On March 3, 2023, the board of directors of the Company granted to each of Charlie Faulkner and Simon Wajcenberg, the Chief Executive Officer and Chief Financial Officer of the Company, respectively, options to purchase up to 77,000,000 0.04 5 15 On March 3, 2023, the Company amended stock option grants dated September 12, 2022 to each of Charlie Faulkner and Simon Wajcenberg, the Chief Executive Officer and Chief Financial Officer of the Company, respectively. The amendment provides for the vesting to be only upon the closing of the purchase of at least $ 15 As of March 31, 2023 the Company owed the executive officers of the Company $ 357,199

Prepaid Hosting Services

Prepaid Hosting Services	3 Months Ended
	Mar. 31, 2023
Prepaid Hosting Services
Prepaid Hosting Services	NOTE 5 - 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 December 31, 2022, the Company had prepaid a total of $ 1,586,297 894,355 691,942

Equity

Equity	3 Months Ended
	Mar. 31, 2023
Equity [Abstract]
Equity	NOTE 6 – Equity Preferred shares We are authorized to issue 4,999,000 Series B On July 19, 2022, the Company designated 1,000,000 5,000,000 0.001 8 65 25 During the year ended December 31, 2022, the Company entered into purchase agreements for the sale of 212,500 11,250 201,250 On January 25, 2023, the Company redeemed the Preferred B shares and paid to the holder a total of $ 270,549 212,500 6,190 51,859 Common shares The Company has authorized 950,000,000 0.001 390,687,459 On March 30, 2023, the Company entered into a settlement agreement with a previous note holder for settlement of outstanding claims of a note payable that had been paid in full previously. Per the terms of the settlement agreement, the Company issued 250,000 9,975 Stock Options During the three months ended March 31, 2023, the Company granted to each of Charlie Faulkner and Simon Wajcenberg, the Chief Executive Officer and Chief Financial Officer of the Company, respectively, options to purchase up to 77,000,000 0.04 5 15 4,814,035 On January 25, 2023, the Company amended stock option grants dated January 31, 2022 to each of Charlie Faulkner and Simon Wajcenberg, the Chief Executive Officer and Chief Financial Officer of the Company, respectively. The amendment reduces the exercise price of the options from $0.40 per share to $0.06 per share. As a result of the amendment, the Company recorded an additional $ 1,236,487 On March 3, 2023, the Company amended stock option grants dated September 12, 2022 to each of Charlie Faulkner and Simon Wajcenberg, the Chief Executive Officer and Chief Financial Officer of the Company, respectively. The amendment provides for the vesting to be only upon the closing of the purchase of at least $ 15 As of March 31, 2023, the Company has $ 22,529,707 21,679,711 15 0 The following table summarizes the stock option activity for the three months ended March 31, 2023: Schedule of option activity Options Weighted-Average Exercise Price Per Share Outstanding, December 31, 2022 239,284,669 $ 0.12 Granted 154,000,000 0.04 Exercised – – Forfeited – – Expired – – Outstanding, March 31, 2023 393,284,669 $ 0.09 As of March 31, 2023, the Company had 85,907,990 4.75 0 4,385 Stock Warrants The following table summarizes the stock warrant activity for the three months ended March 31, 2022: Schedule of warrant activity Warrants Weighted-Average Exercise Price Per Share Outstanding, December 31, 2022 9,530,000 $ 0.50 Granted – – Exercised – – Forfeited – – Expired – – Outstanding, March 31, 2023 9,530,000 $ 0.50

Notes Payable

Notes Payable	3 Months Ended
	Mar. 31, 2023
Debt Disclosure [Abstract]
Notes Payable	NOTE 7 - Notes Payable Notes Payable Pursuant to the merger agreement, the Company acquired outstanding note payables in the amount of $ 35,000 Equipment Notes Payable In 2021, the Company entered into multiple financing agreements whereby the company agreed to purchase assets related to its crypto mining operations. The financing agreements required a down payments in the aggregate of $ 600,408 24 equal monthly payments 2,441,591 248,184 1,366,860 40,032 217,467 On July 11, 2022, the Company terminated its agreements with the vendor for the financed equipment described above. As of March, 31, 2023, and through the date of this filing, no agreement or communication from the vendor has been received confirming the terms of the termination, and therefore the Company has maintained these balances in equipment notes payable on the Company's balance sheet. The balance of the loans as of March 31, 2023 is $ 1,179,972 Schedule of future maturities and principal payments Year Principal Amount 2023 $ 1,179,972 2024 – 2025 – 2026 – 2027 – Remaining – Total $ 1,179,972

Cryptocurrency Assets

Cryptocurrency Assets	3 Months Ended
	Mar. 31, 2023
Cryptocurrency Assets
Cryptocurrency Assets	NOTE 8 – 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 three months ended March 31, 2023: Schedule of cryptocurrency activities Cryptocurrency at December 31, 2022 $ 2,630 Proceeds from sale of cryptocurrencies (2,598 ) Cryptocurrency at March 31, 2023 $ 32

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	NOTE 9 – 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	3 Months Ended
	Mar. 31, 2023
Subsequent Events [Abstract]
Subsequent Events	NOTE 12 - Subsequent Events On April 25, 2023, the Company entered into a Securities Purchase Agreement (the “Promissory Note Purchase Agreement”) with an accredited investor (the “Investor”), pursuant to which the Company sold the Investor an unsecured promissory note in the principal amount of $60,000 (the “Promissory Note”). The Company received gross proceeds of $60,000 in consideration of issuance of the Promissory Note. In addition, on April 26, 2023, the Company entered into a Promissory Note Purchase Agreement with another Investor, pursuant to which the Company sold the Investor an unsecured convertible promissory note in the principal amount of $57,502 Promissory Note. The Company received gross proceeds of $57,502 in consideration of issuance of the Promissory Note. The Promissory Notes shall bear interest at a rate of ten percent (10%) and have a maturity date of May 25, 2023 and May 26, 2023, respectively. The Promissory Notes are convertible into common shares of the Company beginning on the sixth-month anniversary if not repaid by the maturity date. The Promissory Notes have a prepayment percentage of 130% for the period beginning on the issuance date and ending on the maturity date. The Investors may in their option, at any time following the 180-day anniversary from the issuance date, as defined in the Promissory Notes, convert all or any part of the outstanding and unpaid amount of the Promissory Notes into fully paid and non-assessable shares of Common Stock. If the Promissory Notes are not repaid on or prior to the maturity date, the conversion price will be $0.20 or 50% of the preceding five day VWAP on the six month anniversary, which is lower, subject to a floor conversion price of $0.01 per share. Furthermore, the Notes contain a “most favored nation” provision that allows each Investor to claim any preferable terms from any future securities, excluding certain exempt issuances.

Summary of significant Accoun_2

Summary of significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2023
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 Edgemode, Inc., the accounts of its 100% owned subsidiaries, EdgeMode and Edgemode Mine Co UK Limited. 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 March 31, 2023.
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 quoted price of the related cryptocurrency at the time 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.
Stock-Based Compensation	Stock-Based Compensation The Company accounts for equity instruments issued to employees in accordance with the provisions of ASC 718 Stock Compensation (ASC 718) and Equity-Based Payments to Non-employees pursuant to ASC 2018-07 (ASC 2018-07). All transactions in which the consideration provided in exchange for the purchase of goods or services consists of the issuance of equity instruments are accounted for based on the fair value of the consideration received or the fair value of the equity instrument issued, whichever is more reliably measurable. The measurement date of the fair value of the equity instrument issued is the earlier of the date on which the counterparty’s performance is complete or the date at which a commitment for performance by the counterparty to earn the equity instruments is reached because of sufficiently large disincentives for nonperformance. The Company accounts for equity-based transactions with non-employees under the provisions of ASC Topic No. 505-50, “Equity-Based Payments to Non-Employees” (“Topic No. 505-50”). Topic No. 505-50 establishes that equity-based payment transactions with non-employees shall be measured at the fair value of the consideration received or the fair value of the equity instruments issued, whichever is more reliably measurable.
Deferred Offering Costs	Deferred Offering Costs The Company has capitalized qualified direct costs related to its efforts to raise capital through a sale of its common stock in a private offering. Deferred offering costs will be deferred until the completion of the private offering, at which time they will be reclassified to additional paid-in capital as a reduction of the offering proceeds. If the Company terminates the planned offering or there is a significant delay, all of the deferred offering costs will be immediately written off to operating expenses. As of March 31, 2023, $ 264,706
Long-Lived Assets – Cryptocurrencies	Long-Lived Assets – Cryptocurrencies We account for our cryptocurrencies, intangible assets and long-term license agreement in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Subtopic 350-30, General Intangibles Other Than Goodwill, and ASC Subtopic 360-10-05, Accounting for the Impairment or Disposal of Long-Lived Assets. ASC Subtopic 350-30 requires assets to be measured based on the fair value of the consideration given or the fair value of the assets (or net assets) acquired, whichever is more clearly evident and, thus, more reliably measurable. Our cryptocurrencies are deemed to have an indefinite useful life; therefore amounts are not amortized, but rather are assessed for impairment as further discussed in our impairment policy. Under ASC Subtopic 350-30 any intangible asset with a useful life is required to be amortized over that life and the useful life is to be evaluated every reporting period to determine whether events or circumstances warrant a revision to the remaining period of amortization. If the estimate of useful life is changed the remaining carrying amount of the intangible asset is amortized prospectively over the revised remaining useful life. Costs of internally developing, maintaining, or restoring intangible assets are recognized as an expense when incurred.
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.

Equity (Tables)

Equity (Tables)	3 Months Ended
	Mar. 31, 2023
Equity [Abstract]
Schedule of option activity	Schedule of option activity Options Weighted-Average Exercise Price Per Share Outstanding, December 31, 2022 239,284,669 $ 0.12 Granted 154,000,000 0.04 Exercised – – Forfeited – – Expired – – Outstanding, March 31, 2023 393,284,669 $ 0.09
Schedule of warrant activity	Schedule of warrant activity Warrants Weighted-Average Exercise Price Per Share Outstanding, December 31, 2022 9,530,000 $ 0.50 Granted – – Exercised – – Forfeited – – Expired – – Outstanding, March 31, 2023 9,530,000 $ 0.50

Notes Payable (Tables)

Notes Payable (Tables)	3 Months Ended
	Mar. 31, 2023
Debt Disclosure [Abstract]
Schedule of future maturities and principal payments	Schedule of future maturities and principal payments Year Principal Amount 2023 $ 1,179,972 2024 – 2025 – 2026 – 2027 – Remaining – Total $ 1,179,972

Cryptocurrency Assets (Tables)

Cryptocurrency Assets (Tables)	3 Months Ended
	Mar. 31, 2023
Cryptocurrency Assets
Schedule of cryptocurrency activities	Schedule of cryptocurrency activities Cryptocurrency at December 31, 2022 $ 2,630 Proceeds from sale of cryptocurrencies (2,598 ) Cryptocurrency at March 31, 2023 $ 32

Basis of Presentation (Details

Basis of Presentation (Details Narrative) - EdgeMode [Member]	1 Months Ended
	Jan. 31, 2022 USD ($) $ / shares shares
Restructuring Cost and Reserve [Line Items]
Debt Conversion, Converted Instrument, Amount | $	$ 4,574,132
Debt Conversion, Converted Instrument, Shares Issued | shares	18,296,528
Repayments of Convertible Debt | $	$ 988,000
Sole Shareholder [Member]
Restructuring Cost and Reserve [Line Items]
Conversion of Stock, Shares Issued | shares	1,000
Joseph Isaacs [Member]
Restructuring Cost and Reserve [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | shares	19,987,095
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price | $ / shares	$ 0.40
Bonus Paid | $	$ 250,000

Summary of significant Accoun_3

Summary of significant Accounting Policies (Details Narrative) - USD ($)	Mar. 31, 2023	Dec. 31, 2022
Accounting Policies [Abstract]
Deferred Offering Costs	$ 264,706	$ 264,706

Related Party Transactions (Det

Related Party Transactions (Details Narrative) - USD ($)		3 Months Ended
	Mar. 03, 2023	Mar. 31, 2023	Jan. 25, 2023	Dec. 31, 2022
Related Party Transaction [Line Items]
Option vested and exercisable		$ 15,000,000
Accrued payroll		437,764		$ 487,159
Executive Officers [Member]
Related Party Transaction [Line Items]
Accrued payroll		$ 357,199
Chief Executive Officer [Member]
Related Party Transaction [Line Items]
Option granted	77,000,000	77,000,000
Exercise price	$ 0.04	$ 0.04
Option exercisable	5 years	5 years
Chief Financial Officer [Member]
Related Party Transaction [Line Items]
Option granted	77,000,000	77,000,000
Exercise price	$ 0.04	$ 0.04
Option exercisable	5 years	5 years
Minimum [Member]
Related Party Transaction [Line Items]
Exercise price			$ 0.40
Maximum [Member]
Related Party Transaction [Line Items]
Exercise price			$ 0.06
Mr Isaacs [Member]
Related Party Transaction [Line Items]
Option granted		19,987,095
Option exercise price		$ 0.40
Accrued services		$ 80,500
Agreed compensation		$ 55,000

Prepaid Hosting Services (Detai

Prepaid Hosting Services (Details Narrative) - USD ($)	1 Months Ended
	Jan. 31, 2023	Dec. 31, 2022
Prepaid Hosting Services
Prepaid hosting services		$ 1,586,297
Proceeds from initial deposit	$ 894,355
Loss on prepaid hosting termination		$ 691,942

Equity (Details - Option activi

Equity (Details - Option activity) - Options Held [Member]	3 Months Ended
	Mar. 31, 2023 $ / shares shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Options outstanding	239,284,669
Options outstanding | $ / shares	$ 0.12
Options granted	154,000,000
Options granted | $ / shares	$ 0.04
Options exercised	0
Options forfeited	0
Options expired	0
Options outstanding	393,284,669
Options outstanding | $ / shares	$ 0.09

Equity (Details - Warrant activ

Equity (Details - Warrant activity) - Warrant [Member]	3 Months Ended
	Mar. 31, 2023 $ / shares shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Class of Warrant or Right, Outstanding Beginning Balance	9,530,000
Weight-Average Exercise Price Per Share Beginning Balance | $ / shares	$ 0.50
Warrants Granted	0
Warrants Exercised	0
Warrants Forfeited	0
Warrants Expired	0
Class of Warrant or Right, Outstanding Ending Balance	9,530,000
Weight-Average Exercise Price Per Share Ending Balance | $ / shares	$ 0.50

Equity (Details Narrative)

Equity (Details Narrative) - USD ($)		1 Months Ended			3 Months Ended		12 Months Ended
	Mar. 03, 2023	Mar. 30, 2023	Jan. 25, 2023	Jul. 19, 2022	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Class of Stock [Line Items]
Preferred Stock, Shares Authorized				5,000,000	4,999,000		4,999,000
Preferred Stock, par value					$ 0.001		$ 0.001
Common Stock, Shares Authorized					950,000,000		950,000,000
Common Stock, par value					$ 0.001		$ 0.001
Common Stock, Shares Issued					390,687,459		390,437,459
Number of shares issued		250,000
Loss on settlement		$ 9,975			$ 9,975	$ 0
Option vested and exercisable					15,000,000
Options fair value					4,814,035
Stock-based compensation expense					1,236,487	$ 22,385,917
Remaining value expensed					22,529,707
Other expenses					21,679,711
Amortization					$ 0
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercisable, Number					85,907,990
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition					4 years 9 months
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					$ 4,385
Chief Executive Officer [Member]
Class of Stock [Line Items]
Option granted	77,000,000				77,000,000
Exercise price	$ 0.04				$ 0.04
Option exercisable	5 years				5 years
Chief Financial Officer [Member]
Class of Stock [Line Items]
Option granted	77,000,000				77,000,000
Exercise price	$ 0.04				$ 0.04
Option exercisable	5 years				5 years
Series B Preferred Stock [Member]
Class of Stock [Line Items]
Preferred Stock, Shares Authorized				1,000,000
Preferred Stock, par value				$ 0.001
Preferred stock dividend rate				8%
Trading price				65%
Redemption rate				25%
Sale of shares							212,500
Legal fees							$ 11,250
Proceeds from Issuance or Sale of Equity							$ 201,250
Number of value redeemed			$ 270,549
Redeemed stated value			212,500
Accrued dividends			6,190
Redemption premium			$ 51,859

Notes Payable (Details - Maturi

Notes Payable (Details - Maturity)	Mar. 31, 2023 USD ($)
Debt Disclosure [Abstract]
2023	$ 1,179,972
2024	0
2025	0
2026	0
2027	0
Remaining	0
Total	$ 1,179,972

Notes Payable (Details Narrativ

Notes Payable (Details Narrative) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022	Dec. 31, 2021	Jan. 31, 2022
Debt Instrument [Line Items]
Payments of notes payable	$ 0	$ 220,999
Equipment Note Payable 1 [Member]
Debt Instrument [Line Items]
Down payment				$ 600,408
Periodic payment				24 equal monthly payments
Present value note payable				$ 2,441,591
Equipment Notes Payable [Member]
Debt Instrument [Line Items]
Payments of notes payable			$ 248,184	1,366,860
Interest expense			$ 40,032	$ 217,467
Notes Payable	$ 1,179,972
EdgeMode [Member]
Debt Instrument [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-Term Debt					$ 35,000

Cryptocurrency Assets (Details)

Cryptocurrency Assets (Details) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Cryptocurrency Assets
Cryptocurrency, beginning balance	$ 2,630
Proceeds from sale of cryptocurrencies	(2,598)	$ (26,603)
Cryptocurrency, ending balance	$ 32

Commitments and Contingencies (

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