Edgemode (EDGM) 10-Q 9 Aug 24 2024 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2024	Aug. 09, 2024
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Jun. 30, 2024
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2024
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	true
Entity Common Stock, Shares Outstanding		390,687,459

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Current assets:
Cash	$ 376	$ 298
Prepaid expenses and other current assets	1,368	20,258
Total current assets	1,744	20,556
Intangible assets – cryptocurrencies	32	32
Total assets	1,776	20,588
Current liabilities:
Accounts payable and accrued expenses	767,505	721,780
Accrued payroll	1,193,338	661,201
Equipment notes payable	1,179,972	1,179,972
Notes payable	35,000	35,000
Notes payable – related parties	32,725	16,000
Convertible notes payable	343,732	342,501
Derivative liabilities	349,142	197,090
Total current liabilities	3,901,414	3,153,544
Total liabilities	3,901,414	3,153,544
Commitments and contingencies
Stockholders’ deficit:
Preferred shares, $0.001 par value, 4,999,000 shares authorized June 30, 2024 and December 31, 2023; none issued and outstanding	0	0
Common shares, $0.001 par value, 950,000,000 shares authorized June 30, 2024 and December 31, 2023; 390,687,459 shares issued and outstanding, June 30, 2024 and December 31, 2023	390,687	390,687
Additional paid-in capital	35,142,231	35,142,231
Accumulated deficit	(39,432,556)	(38,665,874)
Stockholders’ deficit	(3,899,638)	(3,132,956)
Total liabilities and stockholders’ deficit	$ 1,776	$ 20,588

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Jun. 30, 2024	Dec. 31, 2023
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	390,687,459
Common stock, shares outstanding	390,687,459	390,687,459

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Operating expenses:
General and administrative expenses	$ 380,819	$ 417,501	$ 717,418	$ 2,123,026
Loss on cryptocurrencies	4,600	4,746	4,600	7,344
Total operating expenses	385,419	422,247	722,018	2,130,370
Loss from operations	(385,419)	(422,247)	(722,018)	(2,130,370)
Other income (expense):
Interest expense	(18,132)	(15,113)	(42,552)	(22,387)
Penalty on redemption of Preferred B shares	0	0	0	(51,859)
Other expense	(60)	0	(60)	(780)
Refund of equipment deposit	150,000	500,000	150,000	500,000
Change in fair value of derivatives	(61,867)	0	(152,052)	0
Loss on settlement	0	0	0	(9,975)
Total other income (expense), net	69,941	484,887	(44,664)	414,999
Income (loss) before provision for income taxes	(315,478)	62,640	(766,682)	(1,715,371)
Provision for income taxes	0	0	0	0
Net income (loss)	$ (315,478)	$ 62,640	$ (766,682)	$ (1,715,371)
Loss per common share - basic	$ 0	$ 0	$ 0	$ 0
Loss per common share - diluted	$ 0	$ 0	$ 0	$ 0
Weighted average shares outstanding – basic	390,687,459	390,687,459	390,687,459	390,564,531
Weighted average shares outstanding - diluted	390,687,459	476,595,449	390,687,459	390,564,531

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity (Deficit) (Unaudited) - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Beginning balance, value at Dec. 31, 2022	$ 390,437	$ 33,896,019	$ (35,880,128)	$ (1,593,672)
Beginning balance, shares at Dec. 31, 2022	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 income			(1,778,011)	(1,778,011)
Ending balance, value at Mar. 31, 2023	$ 390,687	35,142,231	(37,658,139)	(2,125,221)
Ending balance, shares at Mar. 31, 2023	390,687,459
Beginning balance, value at Dec. 31, 2022	$ 390,437	33,896,019	(35,880,128)	(1,593,672)
Beginning balance, shares at Dec. 31, 2022	390,437,459
Net income				(1,715,371)
Ending balance, value at Jun. 30, 2023	$ 390,687	35,142,231	(37,595,499)	(2,062,581)
Beginning balance, value at Mar. 31, 2023	$ 390,687	35,142,231	(37,658,139)	(2,125,221)
Beginning balance, shares at Mar. 31, 2023	390,687,459
Net income			62,640	62,640
Ending balance, value at Jun. 30, 2023	390,687	35,142,231	(37,595,499)	(2,062,581)
Beginning balance, value at Dec. 31, 2023	$ 390,687	35,142,231	(38,665,874)	(3,132,956)
Beginning balance, shares at Dec. 31, 2023	390,687,459
Net income			(451,204)	(451,204)
Ending balance, value at Mar. 31, 2024	$ 390,687	35,142,231	(39,117,078)	(3,584,160)
Ending balance, shares at Mar. 31, 2024	390,687,459
Beginning balance, value at Dec. 31, 2023	$ 390,687	35,142,231	(38,665,874)	(3,132,956)
Beginning balance, shares at Dec. 31, 2023	390,687,459
Net income				(766,682)
Ending balance, value at Jun. 30, 2024	$ 390,687	35,142,231	(39,432,556)	(3,899,638)
Ending balance, shares at Jun. 30, 2024	390,687,459
Beginning balance, value at Mar. 31, 2024	$ 390,687	35,142,231	(39,117,078)	(3,584,160)
Beginning balance, shares at Mar. 31, 2024	390,687,459
Net income			(315,478)	(315,478)
Ending balance, value at Jun. 30, 2024	$ 390,687	$ 35,142,231	$ (39,432,556)	$ (3,899,638)
Ending balance, shares at Jun. 30, 2024	390,687,459

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Operating Activities:
Net loss	$ (766,682)	$ (1,715,371)
Adjustments to reconcile net loss to net cash used in operating activities:
Amortization of discounts	11,231	11,365
Penalty on redemption of Preferred B shares	0	51,859
Loss on settlement	0	9,975
Stock-based compensation	0	1,236,487
Loss on cryptocurrency transactions	4,600	7,344
Change in fair value of derivative liabilities	152,052	0
Changes in operating assets and liabilities:
Prepaid expenses and other current assets	18,940	901,735
Accounts payable and accrued expenses	45,725	(60,705)
Accrued payroll	532,137	(41,695)
Net cash provided by (used in) operating activities	(2,047)	400,994
Investing Activities:
Proceeds from sale of cryptocurrencies	0	20,000
Purchase of cryptocurrencies	(4,600)	0
Net cash provided by (used in) investing activities	(4,600)	20,000
Financing Activities:
Payments on preferred B shares	0	(270,549)
Proceeds from convertible notes payable	0	160,000
Proceeds from related party advances	16,725	0
Payments on convertible notes	(10,000)	(13,502)
Net cash provided by (used in) financing activities	6,725	(124,051)
Net change in cash	78	296,943
Cash - beginning of period	298	70
Cash - end of period	376	297,013
Supplemental Disclosures:
Interest paid	0	0
Income taxes paid	0	0
Supplemental Disclosures of Noncash Financing Information:
Convertible notes issued in exchange for cryptocurrency	0	57,502
Note payable issued in exchange for cryptocurrency	0	50,363
Cryptocurrency used to pay accounts payable	$ 0	$ 4,005

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($)	3 Months Ended				6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023
Pay vs Performance Disclosure [Table]
Net Income (Loss)	$ (315,478)	$ (451,204)	$ 62,640	$ (1,778,011)	$ (766,682)	$ (1,715,371)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Jun. 30, 2024
Insider Trading Arrangements [Line Items]
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
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 on Form 10-K for the fiscal year ended December 31, 2023, as amended, as filed with the SEC. 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 2023, as reported in the Form 10-K for the fiscal year ended December 31, 2023 of the Company, have been omitted.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2024
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 following fair value hierarchy tables present information about the Company’s liabilities measured at fair value on a recurring basis: Schedule of liabilities measured at fair value Fair Value Measurements at June 30, 2024 Level 1 Level 2 Level 3 Liabilities: Derivative liabilities $ – $ – $ 349,142 Fair Value Measurements at December 31, 2023 Level 1 Level 2 Level 3 Liabilities: Derivative liabilities $ – $ – $ 197,090 The Company had no assets valued using level 1, level 2, or level 3 inputs as of June 30, 2024 or December 31, 2023. Derivative Financial Instruments Derivatives are measured at their fair value on the balance sheet. In determining the appropriate fair value, the Company uses a binomial calculator model. Changes in fair value are recorded in the consolidated statements of operations. 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. 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 In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280) Improvements to Reportable Segment Disclosures, In December 2023, the FASB issued ASU 2023-08, Intangibles—Goodwill and Other—Crypto Assets (Subtopic 350-60): Accounting for and Disclosure of Crypto Assets In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740) Improvements to Income Tax Disclosures,

Going Concern

Going Concern	6 Months Ended
	Jun. 30, 2024
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 June 30, 2024, the Company had not yet achieved profitable operations and expects to incur further losses as it has suspended its operations until such time, if any, that the Company receives adequate funding, all of which raise substantial doubt about the Company’s ability to continue as a going concern. The Company’s management has also begun exploring possible opportunities for the Company involving mergers, acquisitions or other business combination transactions in an effort to diversify our business. The Company is not currently a party to any agreement or understandings with any third parties, and there are no assurances even if the Company’s management locates an opportunity which it believes will be in the best interests of the Company’s shareholders that it will ever consummate such a transaction. Accordingly, investors should not place undue reliance on these efforts. 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.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2024
Related Party Transactions [Abstract]
Related Party Transactions	NOTE 4 – Related Party Transactions As of June 30, 2024 the Company owed the executive officers of the Company $ 1,193,338 During the six months ended June 30, 2024, the executive officers of the Company advanced $ 16,725 16,000 32,725

Equity

Equity	6 Months Ended
	Jun. 30, 2024
Equity [Abstract]
Equity	NOTE 5 – 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 no Common shares The Company has authorized 950,000,000 0.001 390,687,459 Stock Options As of June 30, 2024, the Company has $ 22,529,707 21,679,711 0 The following table summarizes the stock option activity for the six months ended June 30, 2024: Schedule of stock option activity Options Weighted-Average Exercise Price Per Share Outstanding, December 31, 2023 393,284,669 $ 0.09 Granted – – Exercised – – Forfeited – – Expired – – Outstanding, June 30, 2024 393,284,669 $ 0.09 As of June 30, 2024, the Company had 85,907,990 137,473 0 27 Stock Warrants The following table summarizes the stock warrant activity for the six months ended June 30, 2024: Schedule of stock warrant activity Warrants Weighted-Average Exercise Price Per Share Outstanding, December 31, 2023 9,530,000 $ 0.50 Granted – – Exercised – – Forfeited – – Expired – – Outstanding, June 30, 2024 9,530,000 $ 0.50

Notes Payable and Convertible N

Notes Payable and Convertible Notes Payable	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Notes Payable and Convertible Notes Payable	NOTE 6 – Notes Payable and Convertible Notes Payable Notes Payable Pursuant to the Company’s Agreement and Plan of Merger and Reorganization effective January 31, 2022, 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 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 September 30, 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 June 30, 2024 is $ 1,179,972 Convertible notes payable 1800 Diagonal Lending Notes On April 11, 2023, the Company entered into a Securities Purchase Agreement effective April 20, 2023 with 1800 Diagonal Lending LLC, an accredited investor, pursuant to which the Company sold the investor an unsecured promissory note in the principal amount of $ 60,760 50,000 6,510 4,250 10,760 13 March 11, 2024 monthly 7,629 10,000 $32,262 0 In addition, on April 11, 2023, the Company entered into an additional Securities Purchase Agreement effective April 20, 2023 with 1800 Diagonal Lending LLC, pursuant to which the Company sold the investor an unsecured promissory note in the principal amount of $ 56,962 8 April 11, 2024 50,000 2,712 4,250 94,439 0 On August 4, 2023, the Company entered into a Securities Purchase Agreement with 1800 Diagonal Lending LLC, an accredited investor, pursuant to which the Company sold the investor an unsecured original issuance discount promissory note in the principal amount of $ 71,450 60,000 7,200 4,250 May 24, 2024 monthly 8,971 99,529 0 On October 20, 2023 and May 21, 2024 the Company received notices from 1800 Diagonal Lending LLC, the holder of the April Promissory Note, Convertible Note and August Promissory Note (collectively, the “1800 Notes”) that such notes were in default. The holder has made demand for the immediate payment of the 1800 Notes of a sum representing 150% of the remaining outstanding principal balances of the 1800 Notes in the aggregate of $226,230, together with accrued interest and default interest as provided for in the 1800 Notes. 88,618 Other Convertible Promissory Notes On April 25, 2023, the Company entered into a Securities Purchase Agreement with an accredited investor, pursuant to which the Company sold the investor an unsecured promissory note in the principal amount of $ 60,000 60,000 10 May 26, 2023 60,000 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 57,502 10 May 26, 2023 57,502 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. On the 180-day anniversary date the resulting conversion price is equal to $0.01 Furthermore, the Promissory Notes contain a “most favored nation” provision that allows each investor to claim any preferable terms from any future securities, excluding certain exempt issuances.

Derivative Liabilities

Derivative Liabilities	6 Months Ended
	Jun. 30, 2024
Derivative Liabilities
Derivative Liabilities	NOTE 7 – Derivative Liabilities The fair values of the conversion option of outstanding convertible notes payable and common stock warrants were determined to be derivative liabilities under ASC 815 due to the default on convertible notes payable disclosed above, which resulted in a variable conversion price on the outstanding convertible note payable. The fair value of the derivative liabilities was estimated using a binomial model with the following assumptions: Schedule of assumptions for derivative liabilities As of June 30, 2024 Conversion Option Warrants Volatility 317.38% 213.21% Dividend Yield 0% 0% Risk-free rate 5.03% 4.52% Expected term 1 year 2.5-3 years Stock price $ 0.0002 $ 0.0002 Exercise price $0.00013-0.01 $ 0.5 Derivative liability fair value $ 348,839 $ 303 Number of shares issued upon conversion, exercise, or satisfaction of required conditions as of June 30, 2024 834,991,901 9,530,000 All fair value measurements related to the derivative liabilities are considered significant unobservable inputs (Level 3) under the fair value hierarchy of ASC 820. The table below presents the change in the fair value of the derivative liability during the year ended December 31, 2023: Schedule of fair value of derivative liability Fair value as of December 31, 2023 $ 197,090 Fair value on the date of cash repayments (13,181 ) Change in fair value of derivatives 165,233 Fair value as of June 30, 2024 $ 349,142 The total impact of derivative liabilities recognized in the Company’s consolidated statements of operations includes the change in fair value of derivatives and derivative liabilities settled upon cash repayments, with the Company recognizing a total loss of $ 152,052

Cryptocurrency Assets

Cryptocurrency Assets	6 Months Ended
	Jun. 30, 2024
Other Liabilities Disclosure [Abstract]
Cryptocurrency Assets	NOTE 8 – Cryptocurrency Assets The Company conducts various business activities using its cryptocurrency assets. The below table represents the cryptocurrency activities during the six months ended June 30, 2024: Schedule of cryptocurrency Cryptocurrency at December 31, 2023 $ 32 Purchases of cryptocurrency 4,600 Loss on cryptocurrency (4,600 ) Cryptocurrency at June 30, 2024 $ 32

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2024
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	6 Months Ended
	Jun. 30, 2024
Subsequent Events [Abstract]
Subsequent events	NOTE 10 – Subsequent events On July 5, 2024, the Company received an additional refund of $275,000 related to prior advances made for the purchase of equipment.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2024
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 following fair value hierarchy tables present information about the Company’s liabilities measured at fair value on a recurring basis: Schedule of liabilities measured at fair value Fair Value Measurements at June 30, 2024 Level 1 Level 2 Level 3 Liabilities: Derivative liabilities $ – $ – $ 349,142 Fair Value Measurements at December 31, 2023 Level 1 Level 2 Level 3 Liabilities: Derivative liabilities $ – $ – $ 197,090 The Company had no assets valued using level 1, level 2, or level 3 inputs as of June 30, 2024 or December 31, 2023.
Derivative Financial Instruments	Derivative Financial Instruments Derivatives are measured at their fair value on the balance sheet. In determining the appropriate fair value, the Company uses a binomial calculator model. Changes in fair value are recorded in the consolidated statements of operations.
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.
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 In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280) Improvements to Reportable Segment Disclosures, In December 2023, the FASB issued ASU 2023-08, Intangibles—Goodwill and Other—Crypto Assets (Subtopic 350-60): Accounting for and Disclosure of Crypto Assets In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740) Improvements to Income Tax Disclosures,

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Schedule of liabilities measured at fair value	Schedule of liabilities measured at fair value Fair Value Measurements at June 30, 2024 Level 1 Level 2 Level 3 Liabilities: Derivative liabilities $ – $ – $ 349,142

Equity (Tables)

Equity (Tables)	6 Months Ended
	Jun. 30, 2024
Equity [Abstract]
Schedule of stock option activity	Schedule of stock option activity Options Weighted-Average Exercise Price Per Share Outstanding, December 31, 2023 393,284,669 $ 0.09 Granted – – Exercised – – Forfeited – – Expired – – Outstanding, June 30, 2024 393,284,669 $ 0.09
Schedule of stock warrant activity	Schedule of stock warrant activity Warrants Weighted-Average Exercise Price Per Share Outstanding, December 31, 2023 9,530,000 $ 0.50 Granted – – Exercised – – Forfeited – – Expired – – Outstanding, June 30, 2024 9,530,000 $ 0.50

Derivative Liabilities (Tables)

Derivative Liabilities (Tables)	6 Months Ended
	Jun. 30, 2024
Derivative Liabilities
Schedule of assumptions for derivative liabilities	Schedule of assumptions for derivative liabilities As of June 30, 2024 Conversion Option Warrants Volatility 317.38% 213.21% Dividend Yield 0% 0% Risk-free rate 5.03% 4.52% Expected term 1 year 2.5-3 years Stock price $ 0.0002 $ 0.0002 Exercise price $0.00013-0.01 $ 0.5 Derivative liability fair value $ 348,839 $ 303 Number of shares issued upon conversion, exercise, or satisfaction of required conditions as of June 30, 2024 834,991,901 9,530,000
Schedule of fair value of derivative liability	Schedule of fair value of derivative liability Fair value as of December 31, 2023 $ 197,090 Fair value on the date of cash repayments (13,181 ) Change in fair value of derivatives 165,233 Fair value as of June 30, 2024 $ 349,142

Cryptocurrency Assets (Tables)

Cryptocurrency Assets (Tables)	6 Months Ended
	Jun. 30, 2024
Other Liabilities Disclosure [Abstract]
Schedule of cryptocurrency	Schedule of cryptocurrency Cryptocurrency at December 31, 2023 $ 32 Purchases of cryptocurrency 4,600 Loss on cryptocurrency (4,600 ) Cryptocurrency at June 30, 2024 $ 32

Summary of significant Accoun_4

Summary of significant Accounting Policies (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Platform Operator, Crypto Asset [Line Items]
Derivative liabilities	$ 349,142	$ 197,090
Fair Value, Inputs, Level 1 [Member]
Platform Operator, Crypto Asset [Line Items]
Derivative liabilities	0	0
Fair Value, Inputs, Level 2 [Member]
Platform Operator, Crypto Asset [Line Items]
Derivative liabilities	0	0
Fair Value, Inputs, Level 3 [Member]
Platform Operator, Crypto Asset [Line Items]
Derivative liabilities	$ 349,142	$ 197,090

Related Party Transactions (Det

Related Party Transactions (Details Narrative) - USD ($)	6 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Related Party Transactions [Abstract]
Accrued payroll	$ 1,193,338		$ 661,201
Related party advances	16,725	$ 0	$ 16,000
Owed amount	$ 32,725

Equity (Details - Stock option

Equity (Details - Stock option activity) - Options Held [Member]	6 Months Ended
	Jun. 30, 2024 $ / shares shares
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items]
Options outstanding, beginning balance | shares	393,284,669
Weighted-average exercise price per share, beginning balance | $ / shares	$ 0.09
Options granted | shares	0
Weighted-average exercise price per share, granted | $ / shares	$ 0
Options exercised | shares	0
Weighted-average exercise price per share, exercised | $ / shares	$ 0
Options forfeited | shares	0
Weighted-average exercise price per share, forfeited | $ / shares	$ 0
Options expired | shares	0
Weighted-average exercise price per share, expired | $ / shares	$ 0
Options outstanding, ending balance | shares	393,284,669
Weighted-average exercise price per share, ending balance | $ / shares	$ 0.09

Equity (Details - Warrant activ

Equity (Details - Warrant activity) - Warrant [Member]	6 Months Ended
	Jun. 30, 2024 $ / shares shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Warrants outstanding, beginning balance | shares	9,530,000
Weighted-average exercise price per share, beginning balance | $ / shares	$ 0.50
Warrants granted | shares	0
Weighted-average exercise price per share, warrants granted | $ / shares	$ 0
Warrants exercised | shares	0
Weighted-average exercise price per share, warrants exercised | $ / shares	$ 0
Warrants forfeited | shares	0
Weighted-average exercise price per share, warrants forfeited | $ / shares	$ 0
Warrants expired | shares	0
Weighted-average exercise price per share, warrants expired | $ / shares	$ 0
Warrants outstanding, ending balance | shares	9,530,000
Weighted-average exercise price per share, ending balance | $ / shares	$ 0.50

Equity (Details Narrative)

Equity (Details Narrative) - USD ($)		6 Months Ended
	Jul. 19, 2022	Jun. 30, 2024	Dec. 31, 2023
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
Preferred stock, shares outstanding		0	0
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	390,687,459
Remaining share based compensation expense		$ 22,529,707
Stock options exercisable		85,907,990
Stock options vested		$ 0
Stock options outstanding		$ 27
Options In Dispute [Member]
Class of Stock [Line Items]
Stock options exercisable		137,473
Crypto Mining Milestone [Member]
Class of Stock [Line Items]
Remaining share based compensation expense		$ 21,679,711
Vesting Terms [Member]
Class of Stock [Line Items]
Remaining share based compensation expense		$ 0
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%
Preferred stock, shares outstanding		0

Notes Payable and Convertible_2

Notes Payable and Convertible Notes Payable (Details Narrative) - USD ($)					6 Months Ended		12 Months Ended
	Aug. 04, 2023	Apr. 26, 2023	Apr. 25, 2023	Apr. 11, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2022	Dec. 31, 2021	Jan. 31, 2022
Debt Instrument [Line Items]
Gross proceeds					$ 0	$ 160,000
Amortization of discounts					$ 11,231	$ 11,365
Convertible note description					On October 20, 2023 and May 21, 2024 the Company received notices from 1800 Diagonal Lending LLC, the holder of the April Promissory Note, Convertible Note and August Promissory Note (collectively, the “1800 Notes”) that such notes were in default. The holder has made demand for the immediate payment of the 1800 Notes of a sum representing 150% of the remaining outstanding principal balances of the 1800 Notes in the aggregate of $226,230, together with accrued interest and default interest as provided for in the 1800 Notes.
Additional principal amount					$ 88,618
Equipment Notes Payable [Member]
Debt Instrument [Line Items]
Debt aggregate down payment								$ 600,408
Present value note payable								2,441,591
Repayments of notes payable							$ 248,184	1,366,860
Interest expense							$ 40,032	$ 217,467
Loan amount					1,179,972
April Promissory Note [Member] | Diagonal Lending 1800 [Member]
Debt Instrument [Line Items]
Debt face amount				$ 60,760	10,000
Gross proceeds				50,000
Unamortized discount				6,510	0
Legal fees				4,250
Amortization of discounts				$ 10,760
Interest rate				13%
Maturity date				Mar. 11, 2024
Debt periodic payment frequency				monthly
Debt periodic payment				$ 7,629
Note payable balance					32,262
Convertible Note [Member] | Diagonal Lending 1800 [Member] | Securities Purchase Agreement [Member]
Debt Instrument [Line Items]
Debt face amount				56,962
Gross proceeds				50,000
Unamortized discount				2,712	0
Legal fees				$ 4,250
Interest rate				8%
Maturity date				Apr. 11, 2024
Note payable balance					94,439
August Promissory Note [Member] | Diagonal Lending 1800 [Member]
Debt Instrument [Line Items]
Debt face amount	$ 71,450
Gross proceeds	60,000
Unamortized discount	7,200				0
Legal fees	$ 4,250
Maturity date	May 24, 2024
Debt periodic payment frequency	monthly
Debt periodic payment	$ 8,971
Note payable balance					99,529
April Promissory Notes [Member] | Securities Purchase Agreement [Member]
Debt Instrument [Line Items]
Debt face amount			$ 60,000
Gross proceeds			$ 60,000
Interest rate			10%
Maturity date			May 26, 2023
Note payable balance					60,000
April Promissory Notes [Member] | Promissory Note Purchase Agreement [Member]
Debt Instrument [Line Items]
Debt face amount		$ 57,502
Gross proceeds		$ 57,502
Interest rate		10%
Maturity date		May 26, 2023
Note payable balance					$ 57,502
Edge Mode [Member]
Debt Instrument [Line Items]
Outstanding note payable amount									$ 35,000

Derivative Liabilities (Details

Derivative Liabilities (Details - Fair value of derivative liabilities)	6 Months Ended
	Jun. 30, 2024 USD ($) shares
Conversion Option [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative liability fair value | $	$ 348,839
Number of shares issued upon conversion, exercise, or satisfaction | shares	834,991,901
Warrants [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative liability fair value | $	$ 303
Number of shares issued upon conversion, exercise, or satisfaction | shares	9,530,000
Measurement Input, Price Volatility [Member] | Conversion Option [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Exercise price	317.38%
Measurement Input, Price Volatility [Member] | Warrants [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Exercise price	213.21%
Measurement Input, Expected Dividend Rate [Member] | Conversion Option [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Exercise price	0%
Measurement Input, Expected Dividend Rate [Member] | Warrants [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Exercise price	0%
Measurement Input, Risk Free Interest Rate [Member] | Conversion Option [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Exercise price	5.03%
Measurement Input, Risk Free Interest Rate [Member] | Warrants [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Exercise price	4.52%
Measurement Input, Expected Term [Member] | Conversion Option [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Exercise price	1 year
Measurement Input, Expected Term [Member] | Warrants [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Exercise price	2.5-3 years
Measurement Input, Share Price [Member] | Conversion Option [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Exercise price	0.0002
Measurement Input, Share Price [Member] | Warrants [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Exercise price	0.0002
Measurement Input, Exercise Price [Member] | Conversion Option [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Exercise price	$0.00013-0.01
Measurement Input, Exercise Price [Member] | Warrants [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Exercise price	0.5

Derivative Liabilities (Detail

Derivative Liabilities (Details - Change in the fair value of derivative liabilities)	6 Months Ended
	Jun. 30, 2024 USD ($)
Derivative Liabilities
Fair value of derivative liability, beginning	$ 197,090
Fair value on the date of cash repayments	(13,181)
Change in fair value of derivatives	165,233
Fair value of derivative liability, ending	$ 349,142

Derivative Liabilities (Detai_2

Derivative Liabilities (Details Narrative)	6 Months Ended
	Jun. 30, 2024 USD ($)
Derivative Liabilities
Gain on derivative liabilities	$ 152,052

Cryptocurrency Assets (Details)

Cryptocurrency Assets (Details)	6 Months Ended
	Jun. 30, 2024 USD ($)
Other Liabilities Disclosure [Abstract]
Cryptocurrency, beginning balance	$ 32
Purchases of cryptocurrency	4,600
Loss on cryptocurrency	(4,600)
Cryptocurrency, ending balance	$ 32

Commitments and Contingencies (

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