Cover
Cover - shares | 3 Months Ended | |
Aug. 31, 2022 | Nov. 08, 2022 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Document Period End Date | Aug. 31, 2022 | |
Document Fiscal Period Focus | Q1 | |
Document Fiscal Year Focus | 2023 | |
Current Fiscal Year End Date | --05-31 | |
Entity File Number | 001-38188 | |
Entity Registrant Name | SIMPLICITY ESPORTS AND GAMING COMPANY | |
Entity Central Index Key | 0001708410 | |
Entity Tax Identification Number | 82-1231127 | |
Entity Incorporation, State or Country Code | DE | |
Entity Address, Address Line One | 7000 W. Palmetto Park Road | |
Entity Address, Address Line Two | Suite 505 | |
Entity Address, City or Town | Boca Raton | |
Entity Address, State or Province | FL | |
Entity Address, Postal Zip Code | 33433 | |
City Area Code | (855) | |
Local Phone Number | 345-9467 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | true | |
Elected Not To Use the Extended Transition Period | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 6,918,161 |
Consolidated Balance Sheets (Un
Consolidated Balance Sheets (Unaudited) - USD ($) | Aug. 31, 2022 | May 31, 2022 |
Current Assets | ||
Cash and cash equivalents | $ 97,573 | $ 103,437 |
Accounts receivable, net | 4,871 | 60,549 |
Other receivable – sale of Brazil assets | 316,276 | |
Inventory | 39,455 | 115,188 |
Prepaid franchise fees | 154,093 | |
Other current assets | 77,101 | 74,101 |
Total Current Assets | 535,276 | 507,368 |
Non-Current Assets | ||
Goodwill | 1,472,884 | |
Intangible assets, net | 1,007,142 | |
Deferred brokerage fees | 69,032 | 71,436 |
Property and equipment, net | 51,532 | 195,202 |
Right of use asset, operating leases, net | 415,958 | 532,216 |
Security deposits | 40,307 | 40,307 |
Due from franchisees | 411 | |
Total Non-Current Assets | 576,829 | 3,319,598 |
TOTAL ASSETS | 1,112,105 | 3,826,966 |
Current Liabilities | ||
Accounts payable | 829,845 | 779,363 |
Accrued expenses | 1,838,325 | 1,835,181 |
Current portion of convertible note payable, net of discount | 2,809,492 | 1,548,351 |
Related party loan, current portion | 247,818 | |
Loan payable | 41,735 | 41,735 |
Operating lease obligation, current | 357,187 | 332,519 |
Current portion of deferred revenues | 174,446 | 27,768 |
Total Current Liabilities | 6,051,030 | 4,812,735 |
Operating lease obligation, net of current portion | 981,692 | 1,092,627 |
Non-current portion of convertible notes payable, net of discount | 1,058,076 | 1,545,044 |
Secured Promissory notes payable, net of discount | 67,907 | 69,636 |
Deferred revenues, less current portion | 152,620 | |
Total Non-Current Liabilities | 2,107,675 | 2,859,927 |
Total Liabilities | 8,158,705 | 7,672,662 |
Commitments and Contingencies - Note 7 | ||
Stockholders’ Deficit | ||
Preferred stock - $0.0001 par value, 1,000,000 shares authorized; one share and no shares issued and outstanding as of August 31, 2022, and May 31, 2022, respectively | ||
Common stock - $0.0001 par value; 36,000,000 shares authorized; 3,120,161 and 1,830,818 shares issued and outstanding as of August 31, 2022, and May 31, 2022, respectively | 311 | 182 |
Common stock issuable | 58,744 | 57,700 |
Additional paid-in capital | 26,642,796 | 26,014,021 |
Accumulated deficit | (33,995,554) | (29,838,444) |
Total Simplicity Esports and Gaming Company Stockholders’ Deficit | (7,293,703) | (3,766,541) |
Non-Controlling Interest | 247,103 | (79,155) |
Total Stockholders’ Deficit | (7,046,600) | (3,845,696) |
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT | $ 1,112,105 | $ 3,826,966 |
Consolidated Balance Sheets (_2
Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares | Aug. 31, 2022 | May 31, 2022 |
Statement of Financial Position [Abstract] | ||
Preferred stock, par value | $ 0.0001 | $ 0.0001 |
Preferred stock, authorized | 1,000,000 | 1,000,000 |
Preferred stock, issued | 1 | 0 |
Preferred stock, outstanding | 1 | 0 |
Common stock, par value | $ 0.0001 | $ 0.0001 |
Common stock, authorized | 36,000,000 | 36,000,000 |
Common Stock, Shares, Outstanding | 3,120,161 | 1,830,818 |
Common stock, issued | 3,120,161 | 1,830,818 |
Consolidated Statements of Oper
Consolidated Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | |
Aug. 31, 2022 | Aug. 31, 2021 | |
Revenues: | ||
Total Revenues | $ 344,113 | $ 904,840 |
Cost of Goods Sold | 94,448 | 607,122 |
Gross Profit | 249,665 | 297,718 |
Operating Expenses: | ||
Compensation and related benefits | 563,441 | 1,303,126 |
Professional fees | 79,371 | 449,353 |
General and administrative expenses | 273,426 | 443,695 |
Impairment loss | 2,795,316 | |
Total Operating Expenses | 3,711,554 | 2,196,174 |
Loss from Operations | (3,461,889) | (1,898,456) |
Other (Expense) Income: | ||
Loss on extinguishment of debt | (51,574) | (1,759,969) |
Loss on issuance of shares to employees and as consideration for accounts payable | (27,226) | |
Interest expense | (847,117) | (659,696) |
Interest income | 19 | |
Gain on disposition of Brazil assets | 240,924 | |
Other income | 62,034 | 52,358 |
Total Other Expense | (622,959) | (2,367,288) |
Loss Before Provision for Income Taxes | (4,084,848) | (4,265,744) |
Provision for Income Taxes | ||
Net Loss | (4,084,848) | (4,265,744) |
Net (Income) Loss Attributable to Non-controlling Interest | (72,262) | 54,837 |
Net Loss Attributable to Common Shareholders | $ (4,157,110) | $ (4,210,907) |
Basic and Diluted Net Loss per Share | $ (1.75) | $ (2.89) |
Basic and Diluted Weighted Average Number of Common Shares Outstanding | 2,370,473 | 1,459,485 |
Franchise Revenues [Member] | ||
Revenues: | ||
Total Revenues | $ 37,980 | $ 62,358 |
Company Owned Stores Sales [Member] | ||
Revenues: | ||
Total Revenues | 302,616 | 673,501 |
Esports Revenue [Member] | ||
Revenues: | ||
Total Revenues | $ 3,517 | $ 168,981 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Stockholders' Equity (Deficit) (Unaudited) - USD ($) | Common Stock [Member] | Common Stock Including Additional Paid in Capital [Member] | Common Stock Issuable [Member] | Preferred Stock [Member] | Preferred Stock Including Additional Paid in Capital [Member] | Noncontrolling Interest [Member] | Retained Earnings [Member] | Total |
Beginning balance, value at May. 31, 2021 | $ 142 | $ 16,708,762 | $ 173,039 | $ (12,291,899) | $ 4,590,044 | |||
Beginning balance, shares at May. 31, 2021 | 1,427,124 | |||||||
Shares issued in connection with issuance and amendments of notes payable | $ 4 | 4,136,895 | 4,136,899 | |||||
Shares issued in connection with issuance and amendments of notes payable, shares | 38,125 | |||||||
Shares issued for contracted services | $ 2 | 224,875 | 224,877 | |||||
Shares issued for contracted services, shares | 21,346 | |||||||
Sale of warrants | 100,000 | 100,000 | ||||||
Shares issued in connection with franchise acquisition | $ 1 | 62,999 | 63,000 | |||||
Shares issued in connection with franchise acquisition, shares | 6,000 | |||||||
Common stock issuable | 850,775 | 850,775 | ||||||
Net loss attributable to non-controlling interest | (54,837) | (54,837) | ||||||
Net Loss | (4,210,907) | (4,210,907) | ||||||
Ending balance, value at Aug. 31, 2021 | $ 149 | 21,233,531 | 850,775 | 118,202 | (16,502,806) | 5,699,851 | ||
Ending balance, shares at Aug. 31, 2021 | 1,492,595 | |||||||
Beginning balance, value at May. 31, 2022 | $ 182 | 26,014,021 | 57,700 | (79,155) | (29,838,444) | (3,845,696) | ||
Beginning balance, shares at May. 31, 2022 | 1,830,818 | |||||||
Net loss attributable to non-controlling interest | 72,262 | |||||||
Net Loss | (4,157,110) | (4,157,110) | ||||||
Shares issued in connection with issuance and conversions of notes payable | $ 87 | 158,496 | 158,583 | |||||
Shares issued in connection with issuance and amendments of notes payable, shares | 872,105 | |||||||
Shares to be issued in connection with issuance of notes payable | 11,044 | 11,044 | ||||||
Shares issued to directors, officers, or employees as compensation | $ 1 | 9,505 | (10,000) | (494) | ||||
Shares issued to directors, officers and employees as compensation, shares | 5,238 | |||||||
Shares issued as consideration for accounts payable | $ 41 | 187,679 | 187,720 | |||||
Shares issued as consideration for accounts payable, shares | 412,000 | |||||||
Sale of shares of Series X Convertible Preferred stock to Related Party | 183,498 | 183,498 | ||||||
Sale of shares of Series X convertible preferred stock to related party, shares | 1 | |||||||
Stock-based compensation | 89,597 | 89,597 | ||||||
Non-controlling interest of original investment in subsidiaries | 253,996 | 253,996 | ||||||
Net income attributable to non-controlling interest | 72,262 | 72,262 | ||||||
Ending balance, value at Aug. 31, 2022 | $ 311 | $ 26,459,298 | $ 58,744 | $ 183,498 | $ 247,103 | $ (33,995,554) | $ (7,046,600) | |
Ending balance, shares at Aug. 31, 2022 | 3,120,161 | 1 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 3 Months Ended | |
Aug. 31, 2022 | Aug. 31, 2021 | |
Cash flows from operating activities: | ||
Net loss | $ (4,084,848) | $ (4,265,744) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Non-cash interest expense | 790,484 | 620,178 |
Deferred guaranteed interest | (116,000) | |
Depreciation expense | 18,048 | 81,737 |
Amortization expense | 333 | 77,188 |
Impairment loss | 2,795,316 | |
Provision for uncollectible accounts | 25,829 | 14,137 |
Loss on extinguishment of debt | 51,574 | 1,759,969 |
Loss on issuance of shares to employees and as consideration for accounts payable | 27,226 | |
Stock-based compensation | 89,597 | 850,775 |
Change in lease liability net of leased asset | (82,396) | 20,447 |
Deferred financing costs | (12,905) | |
Gain on disposition of assets | (240,924) | |
Gain on acquisition | (2,357) | |
Employee compensation in connection with the issuance of shares of Series X Convertible Preferred Stock | 182,498 | |
Issuance of shares for services | 224,877 | |
Issuance of shares for interest payment | 81,508 | |
Issuance of shares for inventory purchases | 11,919 | |
Changes in operating assets and liabilities: | ||
Accounts receivable | 29,209 | 20,935 |
Inventory | (90,039) | |
Prepaid expenses | 11,393 | |
Deferred brokerage fees | 2,404 | 2,404 |
Deferred revenues | (5,942) | (6,215) |
Accounts payable | 210,481 | (228,872) |
Accrued expenses | 16,258 | (18,999) |
Due from franchisee | 411 | 19,970 |
Net cash used in operating activities | (174,442) | (943,694) |
Cash flows from investing activities: | ||
Purchase of property and equipment | (20,961) | |
Proceeds from sale of Brazil assets | 75,500 | |
Net cash provided by (used) in investing activities | 75,500 | (20,961) |
Cash flows from financing activities: | ||
Proceeds from sale of warrants | 100,000 | |
Repayment of note payable | (6,922) | (590,909) |
Proceeds from note payable | 100,000 | 1,715,000 |
Net cash provided by financing activities | 93,078 | 1,224,091 |
Net change in cash | (5,864) | 259,436 |
Cash - beginning of period | 103,437 | 414,257 |
Cash - end of period | 97,573 | 673,693 |
Supplemental Disclosures of Cash Flow Information: | ||
Cash paid for interest | 109,091 | |
Cash paid for income taxes | ||
Supplemental Non-Cash Investing and Financing Information | ||
Common stock issued as consideration for accounts payable | $ 187,720 | |
Common stock issued to employees | 9,506 | |
Common stock issued in connection with notes payable | $ 158,583 | $ 238,918 |
Beneficial conversion feature with warrants issued for debt discount | 25,842 | 1,505,387 |
Common stock issued for consideration in an acquisition of fixed assets | 63,000 | |
Purchase price consideration receivable – sale of Brazil assets | 316,276 | |
Common stock issuable in connection with notes payable | $ 11,044 |
ORGANIZATION AND DESCRIPTION OF
ORGANIZATION AND DESCRIPTION OF BUSINESS | 3 Months Ended |
Aug. 31, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
ORGANIZATION AND DESCRIPTION OF BUSINESS | NOTE 1 — ORGANIZATION AND DESCRIPTION OF BUSINESS Simplicity Esports and Gaming Company (the “Company,” “Simplicity,” “we,” or “our”) was organized as a blank check company under the laws of the State of Delaware on April 17, 2017. The Company was formed under the name I-AM Capital Acquisition Company for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses (“Business Combination”). On November 20, 2018, the Company changed its name from I-AM Capital Acquisition Company to Smaaash Entertainment Inc. On January 2, 2019, the Company changed its name from Smaaash Entertainment Inc. to Simplicity Esports and Gaming Company. Through our wholly owned subsidiary, Simplicity Esports, LLC, acquired on January 2, 2019, the Company implements a unique approach to ensure the ultimate fan friendly esports experience, involving gamers at the grassroots level to feel a sense of unity as we compete with top class talent. Our management and players are known within the esports community, and we use their skills to create a seamless content creation plan helping gamers feel closer to our brand than any other in the industry. Simplicity is an established brand in the esports industry with an engaged fan base competing in popular games across different genres, including PUBG, Gears of War, Smite, Guns of Boom, and multiple EA Sports titles. Additionally, the Simplicity stream team encompasses a unique group of casters, influencers, and personalities, all of whom connect to Simplicity’s dedicated fan base. Simplicity also operates esports gaming centers that provide the public the opportunity to experience and enjoy gaming and esports in a social setting, regardless of skill or experience. Through our wholly owned subsidiary, PLAYlive Nation, Inc. (“PLAYlive”), acquired on July 29, 2019, the Company has a network of franchised esports gaming centers. As of August 31, 2022, the Company had five corporate owned stores and 10 franchised locations operating in various states including Arizona, California, Florida, Idaho, Maryland, Ohio, South Carolina, Texas and Washington. PLAYlive offers a video gaming lounge concept to qualified franchisees. PLAYlive currently offers single-unit location franchises, as well as agreements to develop multiple locations. This PLAYlive model is interlaced with the esports gaming centers mentioned above to create the ultimate gaming center. |
SUMMARY OF SIGNIFICANT ACCOUNTI
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 3 Months Ended |
Aug. 31, 2022 | |
Accounting Policies [Abstract] | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | NOTE 2 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X promulgated by the Securities and Exchange Commission (the “SEC”). In the opinion of management, the accompanying unaudited consolidated financial statements include all adjustments, consisting of a normal recurring nature, which are necessary for a fair presentation of the consolidated financial position, operating results and cash flows for the periods presented. The accompanying unaudited consolidated financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K, as filed with the SEC on September 27, 2022. The interim results for the three months ended August 31, 2022 are not necessarily indicative of the results to be expected for the year ending May 31, 2023 or for any future interim periods. Basis of Consolidation The accompanying unaudited consolidated financial statements include the operations of the Company and its wholly owned subsidiaries, Simplicity Esports, LLC, PLAYlive, Simplicity Union Gap, LLC, Simplicity Kennewick, LLC, Simplicity Humble, LLC, Simplicity Frisco, LLC, Simplicity Billings, LLC, Simplicity Brea, LLC, Simplicity Santa Rosa, LLC, Simplicity St. Louis, LLC, Simplicity St. Petersburg, LLC, Simplicity Fullerton, LLC, Simplicity Salinas, LLC, Simplicity Tracy, LLC, Simplicity Vancouver, LLC, Simplicity Fort Bliss, LLC, and PLAYlive Nation Holdings, LLC; its 59 79 51 All significant intercompany accounts and transactions have been eliminated in consolidation. Cash and cash equivalents The Company considers short-term interest-bearing investments with initial maturities of three months or less to be cash equivalents. The Company has no Concentration of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash and cash equivalents and accounts receivable. Cash and cash equivalents in a financial institution, which at times, may exceed the Federal depository insurance coverage of $ 250,000 Financial Instruments The fair value of the Company’s assets and liabilities, which qualify as financial instruments under the Financial Accounting Standards Board (the “FASB”) Accounting Standards Codification (“ASC”) 820, “Fair Value Measurements and Disclosures,” approximates the carrying amounts represented in the consolidated balance sheet. Foreign Currencies Revenue and expenses are translated at average rates of exchange prevailing during the period. Use of Estimates The preparation of consolidated financial statements in conformity with GAAP requires the Company’s management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Revenue Recognition In accordance with ASC 606, Revenues from Contracts with Customers The following describes principal activities, separated by major product or service, from which the Company generates its revenues. The following describes principal activities, separated by major product or service, from which the Company generates its revenues: Company-owned Store Sales The Company-owned stores principally generate revenue from retail esports gaming centers. Revenues from Company-owned stores are recognized when the products are delivered, or the service is provided. After hours, the Company also mines for crypto currency using the computer equipment at the company-owned stores. Crypto mining revenue is recognized as the mining occurs. Franchise Revenues Franchise revenues consist of royalties, fees and initial license fee income. Franchise royalties are based on six percent of franchise store sales after a minimum level of sales occur and are recognized as sales occur. Any royalty reductions, including waivers or those offered as part of a new store development incentive or as incentive for other behaviors, are recognized at the same time as the related royalty, as they are not separately distinguishable from the full royalty rate. Franchise royalties are billed on a monthly basis. The Company recognizes initial franchise license fee revenue when the Company has performed substantially all the services required in the franchise agreement. Fees received that do not meet these criteria are recorded as deferred revenues until earned. The pre-opening services provided to franchisees do not contain separate and distinct performance obligations from the franchise right; thus, the fees collected will be amortized on a straight-line basis beginning at the store opening date through the term of the franchise agreement, which is typically 10 The Company offers various incentive programs for franchisees including royalty incentives, new store opening incentives (i.e. development incentives) and other support initiatives. Royalties and franchise fees sales are reduced to reflect any royalty incentives earned or granted under these programs that are in the form of discounts. Commissary sales are comprised of gaming equipment and supplies sold to franchised stores and are recognized as revenue upon shipment or delivery of the related products to the franchisees. Payments are generally due within 30 days. Fees for information services, including software maintenance fees, marketing fees and website maintenance, graphic and promotion fees are recognized as revenue as such services are provided. Esports Revenue Esports is a form of competition using video games. Most commonly, esports takes the form of organized, single player and multiplayer video game tournaments or leagues, particularly between professional players, individually or as teams. Revenues from Esports revenues are recognized when the competition is completed, and prize money is awarded. Revenues earned from team sponsorships, prize winnings, league sponsorships, and from the Company’s share of league revenues are included in esports revenue. Deferred Revenues Deferred revenues are classified as current or long-term based on when management estimates the revenues will be recognized. The Company receives payments from franchisees in advance of all performance obligations having been met, including but not limited to franchise locations being opened. As certain conditions agreed to in these franchise agreements are performed, revenues are recognized. Deferred costs include commissions paid to brokers related to the sale of specific new franchises which have not met revenue recognition criteria as of August 31, 2022, and May 31, 2022. These costs are recognized in the same period as the initial franchise fee revenue is recognized. The table below summarizes Deferred Revenues as of August 31, 2022: SCHEDULE OF DEFERRED REVENUES May 31, 2022 Revenue Recognized August 31, 2022 Deferred Revenue $ 180,388 $ 5,942 $ 174,446 Total $ 180,388 $ 5,942 $ 174,446 Accounts Receivable The Company estimates the allowance for doubtful accounts based on an analysis of specific customers (i.e. franchisees), taking into consideration the age of past due accounts and an assessment of the customer’s ability to pay. Accounts receivable are written off against the allowance when management determines it is probable the receivable is worthless. Customer account balances with invoices dated over 90 days old are considered delinquent and considered in the allowance assessment. The Company performs credit evaluations of its customers and, generally, requires no collateral. Management has assessed accounts receivable and an allowance for doubtful accounts of approximately $68,879 39,000 Inventory Inventories are stated at the lower of cost or market. The company periodically reviews the value of items in inventory and provides write-downs or write-offs of inventory based on its assessment of market conditions. The Company has recorded an impairment of approximately $ 75,733 Property and Equipment Property and equipment and leasehold improvements are recorded at its historical cost. The cost of property and equipment is depreciated over the estimated useful lives, when placed in service (ranging from 3 5 The Company continually monitors events and changes in circumstances that could indicate carrying amounts of long-lived assets may not be recoverable. When such events or changes in circumstances are present, the Company assesses the recoverability of long-lived assets by determining whether the carrying value of such assets will be recovered through undiscounted expected future cash flows. If the total of the future cash flows is less than the carrying amount of those assets, the Company recognizes an impairment loss based on the excess of the carrying amount over the fair value of the assets. Assets to be disposed of are reported at the lower of the carrying amount or the fair value less costs to sell. The Company has recorded impairment charges of approximately $ 125,622 Intangible Assets and Impairment Intangible assets that are subject to amortization are reviewed for potential impairment whenever events or circumstances indicate that carrying amounts may not be recoverable. Assets not subject to amortization are tested for impairment at least annually. These costs were included in intangible assets on our balance sheet and amortized on a straight-line basis when placed into service over the estimated useful lives of the costs, which is 3 5 The Company periodically reviews its intangible assets for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be fully recoverable. The Company recognizes an impairment loss when the sum of expected undiscounted future cash flows is less that the carrying amount of the asset. The amount of impairment is measured as the difference between the asset’s estimated fair value and its book value. For the three months ended August 31, 2022, the Company performed an internal evaluation of the intangible assets which indicated impairment was required and recorded an impairment charge of approximately $ 1,004,142 Goodwill Goodwill is the excess of our purchase cost over the fair value of the net assets of acquired businesses. We do not amortize goodwill, but we assess our goodwill for impairment at least annually. Our assessment date is May 31, and we performed an internal evaluation of the goodwill value at August 31, 2022 with quantitative and qualitative considerations. Based on this internal evaluation, we recorded an impairment charge of $ 1,472,884 Franchise Locations Through PLAYlive, the Company’s wholly owned subsidiary, the Company has entered into franchise agreements with third parties. As of August 31, 2022, 12 franchise locations were considered to be operational in various states including Arizona, California, Florida, Idaho, Maryland, Ohio, South Carolina, Texas and Washington. Stock-based Compensation The Company records stock-based compensation in accordance with ASC 718, Compensation – Stock Compensation The Company records stock-based compensation in accordance with ASC 718, Compensation – Stock Compensation Equity-Based Payments to Non-Employees Non employee stock-based payments The Company records stock-based payments made to non-employees in accordance with Accounting Standards Update (“ASU”) 2018-07, Compensation-Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting, Basic Income (Loss) Per Share The Company complies with accounting and disclosure requirements ASC Topic 260, “Earnings Per Share.” Net income (loss) - per share is calculated by dividing the Company’s net income (loss) by the weighted average number of common shares outstanding during the period. Diluted earnings or loss per common share is calculated by dividing the Company’s net income or loss available to common stockholders by the diluted weighted average number of common shares outstanding during the period. The diluted weighted average number of shares outstanding is the basic weighted number of shares adjusted for any potentially dilutive debt or equity. For this calculation potentially dilutive securities consist primarily of warrants, outstanding options and shares into which the company’s convertible notes payable are convertible. When the Company records a loss from operations, all potentially dilutive shares are anti-dilutive and are consequently excluded from the calculation of diluted net loss per common share. Income Taxes The Company complies with the accounting and reporting requirements of ASC Topic 740, “ Income Taxes ASC Topic 740 prescribes a recognition threshold and a measurement attribute for the consolidated financial statements recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more-likely-than-not to be sustained upon examination by taxing authorities. Recently Issued and Recently Adopted Accounting Pronouncements Accounting standards promulgated by the FASB are subject to change. Changes in such standards may have an impact on the Company’s future financial statements. The following are a summary of recent accounting developments. In August 2020, the FASB issued ASU 2020-06, Debt — Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging — Contracts in Entity’s Own Equity (Subtopic 815-40) (“ASU 2020-06”) to simplify accounting for certain financial instruments. ASU 2020-06 eliminates the current models that require separation of beneficial conversion and cash conversion features from convertible instruments and simplifies the derivative scope exception guidance pertaining to equity classification of contracts in an entity’s own equity. The new standard also introduces additional disclosures for convertible debt and freestanding instruments that are indexed to and settled in an entity’s own equity. ASU 2020-06 amends the diluted earnings per share guidance, including the requirement to use the if-converted method for all convertible instruments. ASU 2020-06 is effective June 1, 2023 and should be applied on a full or modified retrospective basis, with early adoption permitted beginning on January 1, 2021. The Company is evaluating the impact of the adoption of ASU 2020-06 on the Company’s financial statements. In May 2021, the FASB issued ASU 2021-04, Earning Per Share (Topic 260) Debt-Modifications and Extinguishments (Subtopic 470-50) Compensation-Stock Compensation (Topic 718) Derivatives and Hedging - Contracts in Entity’s Own Equity (Subtopic 815-40) Management does not believe that any other recently issued, but not yet effective, accounting standards, if currently adopted, would have a material effect on the Company’s financial statements. Going Concern, Liquidity and Management’s Plan The Company’s unaudited consolidated financial statements have been prepared assuming that it will continue as a going concern, which contemplates continuity of operations, realization of assets, and liquidation of liabilities in the normal course of business. As reflected in the unaudited consolidated financial statements, as of August 31, 2022, the Company had an accumulated deficit of $ 33,995,554 5,515,754 4,157,110 The Company’s cash position may not be sufficient to support the Company’s daily operations. Management intends to raise additional funds by way of private and/or public offerings. While the Company believes in the viability of its strategy and its ability to generate sufficient revenue and to raise additional funds, there can be no assurances to that effect. Should the Company fail to raise additional capital, it may be compelled to reduce the scope of its planned future business activities. The ability of the Company to continue as a going concern is dependent upon the Company’s ability to further implement its business plan, to generate sufficient revenue and to raise additional funds by way of public and/or private offerings. The unaudited consolidated financial statements do not include any adjustments related to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. In December 2019, a novel strain of coronavirus (COVID-19) emerged in Wuhan, Hubei Province, China. While initially the outbreak was largely concentrated in China and caused significant disruptions to its economy, it has now spread to several other countries and infections have been reported globally. Because COVID-19 infections have been reported throughout the United States, certain federal, state and local governmental authorities have issued stay-at-home orders, proclamations and/or directives aimed at minimizing the spread of COVID-19. Additional, more restrictive proclamations and/or directives may be issued in the future. As a result, all of our corporate and franchised Simplicity Gaming Centers were closed effective April 1, 2020. We commenced reopening Simplicity Gaming Centers as of May 1, 2020 and subsequently reopened the majority of our company owned stores and franchise locations. Although our franchise agreements with franchisees of Simplicity Gaming Centers require a minimum monthly royalty payment to us from the franchisees regardless of whether the franchised Simplicity Gaming Centers are operating, there is a potential risk that franchisees of Simplicity Gaming Centers will default in their obligations to pay their minimum monthly royalty payment to us resulting in either an increase in accounts receivables or a bad debt expense where account receivables are no longer collectible due to franchisee’s inability to pay the minimum monthly royalty payments owed by the franchisee. The ultimate impact of the COVID-19 pandemic on the Company’s operations is unknown and will depend on future developments, which are highly uncertain and cannot be predicted with confidence, including the duration of the COVID-19 outbreak, new information which may emerge concerning the severity of the COVID-19 pandemic, and any additional preventative and protective actions that governments, or the Company, may direct, which may result in an extended period of continued business disruption, reduced customer traffic and reduced operations. Any resulting financial impact cannot be reasonably estimated at this time but is anticipated to have a material adverse impact on our business, financial condition and results of operations. The measures taken to date impacted the Company’s business for the fiscal year ended May 31, 2022 as well as the fiscal quarter ended August 31, 2022 and will potentially continue to impact the Company’s business. Management expects that all of its business segments, across all of its geographies, will be impacted to some degree, but the significance of the impact of the COVID-19 outbreak on the Company’s business and the duration for which it may have an impact cannot be determined at this time. |
DISPOSITIONS
DISPOSITIONS | 3 Months Ended |
Aug. 31, 2022 | |
Discontinued Operations and Disposal Groups [Abstract] | |
DISPOSITIONS | NOTE 3 — DISPOSITIONS On June 10, 2022, the Company and Simplicity One, the Company’s majority owned subsidiary, entered into an asset purchase agreement with a third party in which the third party acquired the Riot Games license for consideration of $ 391,776 391,776 240,924 75,500 316,276 |
PROPERTY, PLANT AND EQUIPMENT
PROPERTY, PLANT AND EQUIPMENT | 3 Months Ended |
Aug. 31, 2022 | |
Property, Plant and Equipment [Abstract] | |
PROPERTY, PLANT AND EQUIPMENT | NOTE 4 — PROPERTY, PLANT AND EQUIPMENT The following is a summary of property, plant, and equipment—at cost, less accumulated depreciation: SCHEDULE OF PROPERTY AND EQUIPMENT August 31, 2022 May 31, 2022 Leasehold improvements $ 17,877 $ 50,981 Property and equipment 328,811 477,812 Total cost 346,688 528,793 Less accumulated depreciation (295,156 ) (333,591 ) Net property plant and equipment $ 51,532 $ 195,202 Depreciation expense for the three months ended August 31, 2022, and 2021 was $ 18,048 81,737 125,622 0 |
INTANGIBLE ASSETS
INTANGIBLE ASSETS | 3 Months Ended |
Aug. 31, 2022 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
INTANGIBLE ASSETS | NOTE 5 — INTANGIBLE ASSETS The following table sets forth the intangible assets, including accumulated amortization as of August 31, 2022: SCHEDULE OF INTANGIBLE ASSETS August 31, 2022 Remaining Accumulated Net Carrying Useful Life Cost Amortization Value Internet Domain 2 $ 3,000 $ 3,000 $ - $ 3,000 $ 3,000 $ - The following tables set forth the intangible assets, including accumulated amortization as of May 31, 2022: May 31, 2022 Remaining Accumulated Net Carrying Useful Life Cost Amortization Value Trademarks Indefinite 866,000 - 866,000 Customer Database 2 35,000 33,542 1,458 Restrictive Covenant 2 115,000 110,208 4,792 Customer Contracts Varies 185,563 50,671 134,892 $ 1,201,563 $ 194,421 $ 1,007,142 During the three months ended August 31, 2022 and 2021, the Company recorded impairment expense of $ 1,004,142 0 The following table sets forth the future amortization of the Company’s intangible assets as of August 31, 2022 for the fiscal years ending May 31: SCHEDULE OF FUTURE AMORTIZATION OF INTANGIBLE ASSETS 2022 2023 2024 2025 2026 Thereafter Total Non-Competes $ - $ - $ - $ - $ - $ - $ - Customer Contracts - - - - - - - Restrictive Covenant - - - - - - - Customer Database - - - - - - - Internet Domain - - - - - - - Total $ - $ - $ - $ - $ - $ - $ - Amortization expense for the three months ended August 31, 2022, and 2021 was $ 333 77,188 Goodwill The Company’s goodwill carrying amounts relate to the acquisitions of Simplicity Esports LLC and PLAYlive. The composition of the goodwill balance, is as follows: SCHEDULE OF GOODWILL Three Months Ended August 31, 2022 Fiscal Year Ended May 31, 2022 Simplicity Esports LLC $ - $ 1,034,662 PLAYlive Nation Inc. - 413,222 Ft. Bliss - 25,000 Total Goodwill $ - $ 1,472,884 During the three months ended August 31, 2022, and 2021 the Company recorded impairment expense of $ 1,472,884 0 |
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS | 3 Months Ended |
Aug. 31, 2022 | |
Related Party Transactions [Abstract] | |
RELATED PARTY TRANSACTIONS | NOTE 6 — RELATED PARTY TRANSACTIONS Kaplan Promissory Notes On December 10, 2021, the Company entered into a related party transaction with Jed Kaplan, the Company’s then Chairman of the Board and a more than 5% shareholder, to provide a loan to the Company to provide additional operating funds for Simplicity One, the Company’s majority owned subsidiary. The principal amount of the loan was $ 247,818 . The loan bears interest at a rate of 5 % per annum and the entire amount of the principal and accrued interest was due on June 10, 2022 . For the quarter ended August 31, 2022, the Company recorded interest expense of $ 339 with no similar expense in the prior period. On June 10, 2022, the loan and accrued interest of $ 6,178 |
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 3 Months Ended |
Aug. 31, 2022 | |
Commitments and Contingencies Disclosure [Abstract] | |
COMMITMENTS AND CONTINGENCIES | NOTE 7 — COMMITMENTS AND CONTINGENCIES As of August 31, 2022, the Company has entered into various leases for its corporate office and its gaming centers. The following table summarizes the right-of use asset and lease liability as of August 31, 2022: SUMMARIZES OF RIGHT OF USE ASSET AND LEASE LIABILITY Right-of-use Asset, net $ 415,958 Lease Liability Current $ 357,187 Long Term 981,692 Total $ 1,338,879 During the three months ended August 31, 2022, the Company recognized a loss on impairment of $ 116,935 The following table summarizes the Company’s scheduled future minimum lease payments as of August 31, 2022: SCHEDULE OF FUTURE MINIMUM LEASE PAYMENTS 2023 $ 450,377 2024 452,511 2025 405,795 2026 321,952 2027 and beyond 47,500 Total Operating Lease Obligations $ 1,678,135 Less: Amount representing imputed interest (339,256 ) Present value of minimum lease payments $ 1,338,879 Less current portion 357,187 Long term portion $ 981,692 As of August 31, 2022, and May 31, 2022, the weighted-average remaining lease terms was 3.2 3.6 12 Employment Agreements, Board Compensation and Bonuses On July 29, 2020, (i) the Company entered into an employment agreement (the “Kaplan 2020 Agreement”) with Mr. Kaplan; and (ii) the Board of Directors approved for Mr. Kaplan a $ 75,000 250,000 35,000 Effective March 29, 2021, the Company promoted Mr. Kaplan to be the Chairman of the Board of Directors, and he ceased to be the Company’s Chief Executive Officer and Interim Chief Financial Officer. Upon this change, Mr. Kaplan’s new monthly salary became $ 4,000 On July 29, 2020, (i) the Company entered into an employment agreement (the “Franklin 2020 Agreement”) with Mr. Franklin; and (ii) the Board of Directors approved for Mr. Franklin a $ 75,000 250,000 35,000 On March 25, 2021, the Board of Directors appointed Mr. Franklin as the Company’s Chief Executive Officer, effective March 29, 2021. Mr. Franklin continues to be a member of our board of directors. In connection with Mr. Franklin’s appointment, on March 25, 2021, the Company entered into an employment agreement, dated as of March 29, 2021, by and between the Company and Mr. Franklin (the “2021 Franklin Employment Agreement”). Pursuant to the terms of the 2021 Franklin Employment Agreement, in exchange for Mr. Franklin’s services, the Company agreed to pay Mr. Franklin an annual base salary of $ 250,000 15,000 On May 11, 2021, the Board appointed Nancy Hennessey to serve as the Company’s Chief Financial Officer, effective May 17, 2021. In connection with Ms. Hennessey’s appointment as the Company’s Chief Financial officer, the Company entered into an employment agreement, dated as of May 17, 2021, by and between the Company and Ms. Hennessey (the “Hennessey Employment Agreement”). Pursuant to the terms of the Hennessey Employment Agreement, in exchange for Ms. Hennessey’s services, the Company agreed to pay Ms. Hennessey an annual base salary of $ 140,000 5,000 Ms. Hennessey was also eligible to receive a quarterly bonus of up to $ 12,500 On June 28, 2022, Nancy Hennessey submitted her resignation as the Company’s Chief Financial Officer, effective June 30, 2022. Ms. Hennessey’s resignation was not the result of any disagreement with the Company on any matter relating to the Company’s operations, policies or practices. |
DEBT
DEBT | 3 Months Ended |
Aug. 31, 2022 | |
Debt Disclosure [Abstract] | |
DEBT | NOTE 8 - DEBT The table below presents the Company’s outstanding debt balances as of August 31, 2022, and May 31, 2022: SCHEDULE OF OUTSTANDING DEBT BALANCES Convertible Promissory Notes Secured Promissory Notes Related Party Debt Short-Term Note Payable Principal Balance as of May 31, 2022 $ 5,361,347 $ 206,772 $ 247,818 $ 41,735 Carrying Value as of May 31, 2022 3,093,395 69,636 247,818 41,375 Principal Borrowings 110,000 - - - Repayments - (6,922 ) (247,818 ) - Conversions (94,276 ) - - - Totals 15,724 (6,922 ) (247,818 ) - Unamortized Debt Issuance Costs, Beneficial Conversion Feature, and Warrant Discount Beginning Balance (2,267,952 ) (137,136 ) - - Additions (25,842 ) - - - Accretion 784,291 5,193 - - Ending Balance (1,509,503 ) (131,943 ) - - Principal Balance as of August 31, 2022 $ 5,377,071 $ 199,850 $ - $ 41,735 Carrying Value as of August 31, 2022 3,867,568 67,907 - 41,735 Less Short-Term Portion 2,809,492 - - 41,735 Long Term Portion $ 1,058,076 $ 67,907 $ - $ - Scheduled principal maturities of the Company’s outstanding debt over the next five fiscal years is as follows: SCHEDULE OF PRINCIPLE MATURITIES OF OUTSTANDING DEBT Fiscal year ended May 31, 2023 $ 1,956,724 2024 3,533,026 2025 46,449 2026 51,312 2027 31,145 Thereafter - Outstanding Debt $ 5,618,656 Convertible Promissory Notes February 19, 2021 Labrys 12% Convertible Promissory Note On February 19, 2021, the Company entered into a securities purchase agreement (the “Labrys SPA”) with Labrys Fund LP (“Labrys”), an accredited investor, pursuant to which the Company issued a 12 February 19, 2022 1,650,000 10,000 1,650,000 12 165,000 1,485,000 4.99 11.50 The Company may prepay the Labrys Note at any time prior to the date that an Event of Default (as defined in the Labrys Note) (each an “Labrys Event of Default”) occurs at an amount equal to 100% of the Labrys Principal Sum then outstanding plus accrued and unpaid interest (no prepayment premium). The Note contains customary events of default relating to, among other things, payment defaults, breach of representations and warranties, and breach of provisions of the Labrys Note or Labrys SPA. Upon Labrys’s provision of notice to the Company of the occurrence of any Labrys Event of Default, which has not been cured within five (5) calendar days, the Labrys Note shall become immediately due and payable and the Company shall pay to Labrys, in full satisfaction of its obligations hereunder, an amount equal to the Labrys Principal Sum then outstanding plus accrued interest multiplied by 125 Upon the occurrence of an Labrys Event of Default, additional interest will accrue from the date of the Labrys Event of Default at the rate equal to the lower of 15% per annum or the highest rate permitted by law. As of March 16, 2022, the Company and Labrys entered into an amendment (the “Labrys Amendment”) to the Labrys SPA and the Labrys Note, as amended. Pursuant to the terms of the Labrys Amendment, the maturity date of the Labrys Note was extended to the earlier of (i) September 15, 2022 4.99 2,000,000 750,000 Upon the issuance of the March 2022 FirstFire Note, March 2022 GS Note, and March 2022 Ionic Note described below, the conversion price of the Labrys Note was reduced from $ 11.50 1.00 1.00 0.10 During the quarters ended August 31, 2022, the Company did not make any payments to Labrys. During the quarter ended August 31, 2022, the Company recognized $ 33,671 During the quarter ended August 31, 2021, the Company paid interim payments to the Holder in the amount of $ 225,000 90,909 109,091 25,000 287,330 As of August 31, 2022, the carrying value and face value of the Labrys Note was $ 890,591 March 2021 FirstFire Global 12% Convertible Promissory Note On March 10, 2021, the Company, entered into a securities purchase agreement (the “March 2021 FirstFire SPA”) with FirstFire Global Opportunities Fund, LLC, a Delaware limited liability company (the “FirstFire”), pursuant to which the Company issued a 12 March 10, 2022 560,000 130,606 56,000 8,394 365,000 3,394 560,000 12 4.99 11.50 Upon the issuance of the March 2022 FirstFire Note, March 2022 GS Note, and March 2022 Ionic Note described below, the conversion price of the March 2021 FirstFire Note was reduced from $ 11.50 1.00 1.00 0.10 The Company may prepay the March 2021 FirstFire Note at any time prior to the date that an Event of Default (as defined in the March 2021 FirstFire Note) (each an “March 2021 FirstFire Event of Default”) occurs at an amount equal to 100% of the March 2021 FirstFire Principal Sum then outstanding plus accrued and unpaid interest (no prepayment premium). The March 2021 FirstFire Note contains customary events of default relating to, among other things, payment defaults, breach of representations and warranties, and breach of provisions of the March 2021 FirstFire Note or March 2021 FirstFire SPA. Upon FirstFire’s provision of notice to the Company of the occurrence of any March 2021 FirstFire Event of Default, which has not been cured within five (5) calendar days the March 2021 FirstFire Note shall become immediately due and payable and the Company shall pay to FirstFire, in full satisfaction of its obligations hereunder, an amount equal to the March 2021 FirstFire Principal Sum then outstanding plus accrued interest multiplied by 125 Upon the occurrence of a March 2021 FirstFire Event of Default, additional interest will accrue from the date of the March 2021 FirstFire Event of Default at the rate equal to the lower of 15% per annum or the highest rate permitted by law. The Company was required to make an interim payment to FirstFire in the amount of $ 123,200 40,000 10.73 248,547 248,547 On October 1, 2021, the Company issued to FirstFire a second three-year common stock warrant to purchase 40,000 10.73 201,351 201,351 On April 29, 2022, FirstFire converted $ 50,000 1.00 50,000 2.20 60,000 On July 27, 2022, FirstFire converted $ 9,500 0.10 95,000 0.13 2,850 During the quarter ended August 31, 2022, the Company recognized $ 14,984 During the quarter ended August 31, 2021, the Company recognized $ 65,533 As of May 31, 2022, the carrying value and face value of the March 2021 FirstFire Note was $ 500,500 June 2021 FirstFire Global 12% Convertible Promissory Note On June 11, 2021, the Company entered into a securities purchase agreement (the “June 2021 FirstFire SPA”) with FirstFire, pursuant to which the Company issued (i) a 12 1,266,666 11,875 three 593,750 10.73 The following are the material terms of the June 2021 FirstFire SPA and June 2021 FirstFire Note: ● The June 2021 FirstFire Note matures on June 10, 2023 ● At its election, FirstFire may convert the June 2021 FirstFire Note into the Company’s common stock (subject to the beneficial ownership limitations of 4.99 9.99 11.50 ● The Company agree to pay interest on the June 2021 Principal Sum at the rate of 12 ● The June 2021 FirstFire Note carries an original issue discount of $ 126,666 ● The Company may prepay the June 2021 FirstFire Note at any time prior to maturity in accordance with the terms of the June 2021 FirstFire Note. ● The June 2021 FirstFire Note contains customary events of default relating to, among other things, payment defaults, breach of representations and warranties, and breach of provisions of the June 2021 FirstFire Note or the June 2021 FirstFire SPA. Upon the occurrence of any event of default (as defined in the June 2021 FirstFire Note) which has not been cured within three calendar days, the June 2021 FirstFire Note shall become immediately due and payable and the Company shall pay to FirstFire, in full satisfaction of its obligations hereunder, an amount equal to the June 2021 FirstFire Principal Sum then outstanding plus accrued interest multiplied by 125 ● Pursuant to the June 2021 FirstFire SPA, the June 2021 FirstFire Commitment Shares and the shares underlying the June 2021 FirstFire Note and June 2021 FirstFire Warrant carry standard registration rights. Upon issuance of the June 2021 FirstFire Note, the Company received net proceeds of $ 1,140,000 1,140,000 22,949 174,851 942,200 1,266,667 On September 16, 2021, the Company made an interim payment to the June 2021 FirstFire Note in the amount of $ 175,000 Upon the issuance of the March 2022 FirstFire Note, March 2022 GS Note, and March 2022 Ionic Note described below, the conversion price of the June 2021 FirstFire Note was reduced from $ 11.50 1.00 1.00 0.10 During the quarter ended August 31, 2022, the Company recorded interest expense of $ 137,580 During the quarter ended August 31, 2021, the Company recorded interest expense of $ 140,548 As of August 31, 2022, the carrying value of the June 2021 FirstFire Note was $ 668,459 423,208 June 2021 GS Capital Securities 12% Convertible Promissory Note On June 16, 2021, the Company entered into a securities purchase agreement (the “June 2021 GS SPA”) with GS Capital Partners, LLC (“GS”), pursuant to which the Company issued (i) a 12 333,333 3,125 three 156,250 10.73 The following are the material terms of the June 2021 GS SPA and June 2021 GS Note: ● The June 2021 GS Note matures on June 10, 2023 ● At its election, GS may convert the June 2021 GS Note into the Company’s common stock (subject to the beneficial ownership limitations of 4.99 9.99 11.50 ● The Company agree to pay interest on the June 2021 GS Principal Sum at the rate of 12 ● The June 2021 GS Note carries an original issue discount of $ 33,333 ● The Company may prepay the June 2021 GS Note at any time prior to maturity in accordance with the terms of the June 2021 GS Note. ● The June 2021 GS Note contains customary events of default relating to, among other things, payment defaults, breach of representations and warranties, and breach of provisions of the June 2021 GS Note or the June 2021 GS SPA. Upon the occurrence of any event of default (as defined in the June 2021 GS Note) which has not been cured within three calendar days, the June 2021 GS Note shall become immediately due and payable and the Company shall pay to GS, in full satisfaction of its obligations hereunder, an amount equal to the June 2021 GS Principal Sum then outstanding plus accrued interest multiplied by 125 ● Pursuant to the June 2021 GS SPA, the June 2021 GS Commitment Shares and the shares underlying the June 2021 GS Note and June 2021 GS Warrant carry standard registration rights. Upon issuance of the June 2021 GS Note, the Company received net proceeds of $ 300,000 300,000 5,963 53,899 240,138 333,333 Upon the issuance of the March 2022 FirstFire Note, March 2022 GS Note, and March 2022 Ionic Note described below, the conversion price of the June 2021 GS Note was reduced from $ 11.50 1.00 1.00 0.10 On April 18, 2022, GS converted $ 50,333 3,389 1.00 53,720 2.77 95,085 On July 18, 2022, GS converted $ 53,000 6,935 0.10 599,350 0.19 53,942 During the quarter ended August 31, 2022, the Company recorded interest expense of $ 56,212 During the quarter ended August 31, 2022, the Company recorded interest expense of $ 34,703 As of August 31, 2022, the carrying value of the June 2021 GS Note was $ 140,836 89,164 August 2021 Jefferson Street Capital 12% Convertible Promissory Note On August 23, 2021, the Company entered into a securities purchase agreement (the “August 2021 Jefferson SPA”) with Jefferson Street Capital, LLC (“Jefferson”), pursuant to which the Company issued (i) a 12 333,333 3,125 three 156,250 10.73 The following are the material terms of the August 2021 Jefferson SPA and August 2021 Jefferson Note: ● The August 2021 Jefferson Note matures on August 23, 2023 ● At its election, Jefferson may convert the August 2021 Jefferson Note into the Company’s common stock (subject to the beneficial ownership limitations of 4.99 9.99 11.50 ● The Company agree to pay interest on the August 2021 Jefferson Principal Sum at the rate of 12 ● The August 2021 Jefferson Note carries an original issue discount of $ 33,333 ● The Company may prepay the August 2021 Jefferson Note at any time prior to maturity in accordance with the terms of the August 2021 Jefferson Note. ● The August 2021 Jefferson Note contains customary events of default relating to, among other things, payment defaults, breach of representations and warranties, and breach of provisions of the August 2021 Jefferson Note or the August 2021 Jefferson SPA. Upon the occurrence of any event of default (as defined in the August 2021 Jefferson Note) which has not been cured within three calendar days, the August 2021 Jefferson Note shall become immediately due and payable and the Company shall pay to Jefferson, in full satisfaction of its obligations hereunder, an amount equal to the August 2021 Jefferson Principal Sum then outstanding plus accrued interest multiplied by 125 ● Pursuant to the August 2021 Jefferson SPA, the August 2021 Jefferson Commitment Shares underlying and the shares underlying the August 2021 Jefferson Note and August 2021 Jefferson Warrant carry standard registration rights. Upon issuance of the August 2021 Jefferson Note, the Company received net proceeds of $ 300,000 15,000 300,000 4,945 62,051 233,004 333,333 15,000 Upon the issuance of the March 2022 FirstFire Note, March 2022 GS Note, and March 2022 Ionic Note described below, the conversion price of the August 2021 Jefferson Note was reduced from $ 11.50 1.00 1.00 On August 23, 2022, GS converted $ 10,000 1,000 0.10 110,000 0.075 2,750 During the quarter ended August 31, 2022, the Company recorded interest expense of $ 47,941 46,941 1,000 During the quarter ended August 31, 2021, the Company recorded interest expense of $ 685 As of August 31, 2022, the carrying value of the August 2021 Jefferson Note was $ 163,882 159,452 August 2021 Lucas Ventures Capital 12% Convertible Note On August 31, 2021, the Company entered into a securities purchase agreement (the “August 2021 Lucas SPA”) with Lucas Ventures, LLC (“Lucas”), pursuant to which the Company issued (i) a 12 200,000 3,749 three 187,400 10.22 The following are the material terms of the August 2021 Lucas SPA and August 2021 Lucas Note: ● The August 2021 Lucas Note matures on August 31, 2023 ● At its election, Lucas may convert the August 2021 Lucas Note into the Company’s common stock (subject to the beneficial ownership limitations of 4.99 9.99 11.50 ● The Company agree to pay interest on the August 2021 Lucas Principal Sum at the rate of 12 ● The August 2021 Lucas Note carries an original issue discount of $ 20,000 ● The Company may prepay the August 2021 Lucas Note at any time prior to maturity in accordance with the terms of the August 2021 Lucas Note. ● The August 2021 Lucas Note contains customary events of default relating to, among other things, payment defaults, breach of representations and warranties, and breach of provisions of the August 2021 Lucas Note or the August 2021 Lucas SPA. Upon the occurrence of any event of default (as defined in the August 2021 Lucas Note) which has not been cured within three calendar days, the August 2021 Lucas Note shall become immediately due and payable and the Company shall pay to Lucas, in full satisfaction of its obligations hereunder, an amount equal to the August 2021 Lucas Principal Sum then outstanding plus accrued interest multiplied by 125 ● Pursuant to the August 2021 Lucas SPA, the August 2021 Lucas Commitment Shares underlying and the shares underlying the August 2021 Lucas Note and August 2021 Lucas Warrant carry standard registration rights. Upon issuance of the August 2021 Lucas Note, the Company received net proceeds of $ 180,000 9,000 180,000 3,903 22,149 153,948 200,000 9,000 On March 16, 2022, the Company and Lucas Ventures entered into an Amendment and Waiver Pursuant to Convertible Promissory Note (the “Lucas Amendment”). Pursuant to the terms of the Lucas Amendment, the parties agreed that the conversion price of the August 2021 Lucas Note was decreased from $ 11.50 1.00 1.00 0.10 During the quarter ended August 31, 2022, the Company recorded interest expense of $ 25,205 As of August 31, 2022, the carrying value of the August 2021 Lucas Note was $ 99,999 100,001 August 2021 LGH Investments, LLC 12% Convertible Promissory Note On August 31, 2021, the Company and LGH Investments, LLC, (“LGH”) entered into a securities purchase agreement (the “August 2021 LGH SPA”) pursuant to which the Company issued a 12 200,000 The following are the material terms of the August 2021 LGH SPA and August 2021 LGH Note: ● The August 2021 LGH Note matures on August 31, 2023 ● At its election, LGH may convert the August 2021 LGH Note into the Company’s common stock (subject to the beneficial ownership limitations of 4.99 9.99 11.50 ● The Company agree to pay interest on the August 2021 LGH Principal Sum at the rate of 12 ● The August 2021 LGH Note carries an original issue discount of $ 20,000 ● The Company may prepay the August 2021 LGH Note at any time prior to maturity in accordance with the terms of the August 2021 LGH Note. ● The August 2021 LGH Note contains customary events of default relating to, among other things, payment defaults, breach of representations and warranties, and breach of provisions of the August 2021 LGH Note or the August 2021 LGH SPA. Upon the occurrence of any event of default (as defined in the August 2021 LGH Note which has not been cured within three calendar days, the August 2021 LGH Note shall become immediately due and payable and the Company shall pay to LGH, in full satisfaction of its obligations hereunder, an amount equal to the August 2021 LGH Principal Sum then outstanding plus accrued interest multiplied by 125 ● Pursuant to the August 2021 LGH SPA, the shares underlying the August 2021 LGH Note carry standard registration rights. Upon issuance of the August 2021 LGH Note, the Company received net proceeds of $ 180,000 6,500 26,500 6,500 As of March 16, 2022, the Company and LGH entered into an Amendment and Waiver Pursuant to Convertible Promissory Note (the “LGH Amendment”). Pursuant to the terms of the LGH Amendment, the parties agreed that the conversion price of the August 2021 LGH Note was decreased from $ 11.50 1.00 1.00 0.10 During the quarter ended August 31, 2022, the Company recorded interest expense of $ 3,340 As of August 31, 2022, the carrying value of the August 2021 LGH Note was $ 186,750 13,250 September 2021 Ionic Ventures, LLC 12% Convertible Promissory Note On September 28, 2021, the Company entered into a securities purchase agreement (the “September 2021 Ionic SPA”) with Ionic Ventures, LLC (“Ionic”), pursuant to which the Company issued (i) a 12 1,555,556 14,584 three 729,167 10.73 The following are the material terms of the September 2021 Ionic SPA and September 2021 Ionic Note: ● The September 2021 Ionic Note matures on September 28, 2023 ● At its election, Ionic may convert the September 2021 Ionic Note into the Company’s common stock (subject to the beneficial ownership limitations of 4.99 9.99 11.50 ● The Company agree to pay interest on the September 2021 Ionic Principal Sum at the rate of 12 ● The September 2021 Ionic Note carries an original issue discount of $ 155,556 ● The Company may prepay the September 2021 Ionic Note at any time prior to maturity in accordance with the terms of the September 2021 Ionic Note. ● The September 2021 Ionic Note contains customary events of default relating to, among other things, payment defaults, breach of representations and warranties, and breach of provisions of the August 2021 Ionic Note or the September 2021 Ionic SPA. Upon the occurrence of any event of default (as defined in the September 2021 Ionic Note) which has not been cured within three calendar days, the August 2021 Ionic Note shall become immediately due and payable and the Company shall pay to Ionic, in full satisfaction of its obligations hereunder, an amount equal to the September 2021 Ionic Principal Sum then outstanding plus accrued interest multiplied by 125 ● Pursuant to the September 2021 Ionic SPA, the September 2021 Ionic Commitment Shares underlying and the shares underlying the September 2021 Ionic Note and September 2021 Ionic Warrant carry standard registration rights. Upon issuance of the September 2021 Ionic Note, the Company received net proceeds of $ 1,400,000 98,000 1,400,000 26,721 335,303 1,037,976 1,555,556 98,000 Upon the issuance of the March 2022 FirstFire Note, March 2022 GS Note, and March 2022 Ionic Note described below, the conversion price of the September 2021 Ionic Note was reduced from $ 11.50 1.00 1.00 0.10 On April 25, 2022, Ionic converted $ 87,800 1.00 87,800 2.61 141,358 On July 28, 2022, Ionic converted $ 6,776 0.10 67,755 0.13 2,033 On August 24, 2022, Ionic converted $ 15,000 0.10 150,000 0.075 4,500 During the quarter ended August 31, 2022, the Company recorded interest expense of $ 302,506 As of August 31, 2022, the carrying value of the September 2021 Ionic Note was $ 771,322 674,658 March 2022 FirstFire Global 12% Convertible Promissory Note On March 21, 2022, the Company entered into a securities purchase agreement (the “March 2022 FirstFire SPA”) with FirstFire, pursuant to which the Company issued (i) a 12 110,000 935 three 50,000 1.00 The following are the material terms of the March 2022 FirstFire SPA and March 2022 FirstFire Note: ● The March 2022 FirstFire Note matures on September 21, 2022 ● At its election, FirstFire may convert the March 2022 FirstFire Note into the Company’s common stock (subject to the beneficial ownership limitations of 4.99 9.99 1.00 ● The Company agree to pay interest on the March 2022 FirstFire Principal Sum at the rate of 12 ● The March 2022 FirstFire Note carries an original issue discount of $ 10,000 ● The Company may prepay the March 2022 FirstFire Note at any time prior to maturity in accordance with the terms of the March 2022 FirstFire Note. ● The March 2022 FirstFire Note contains customary events of default relating to, among other things, payment defaults, breach of representations and warranties, and breach of provisions of the March 2022 FirstFire Note or the March 2022 FirstFire SPA. Upon the occurrence of any event of default (as defined in the March 2022 I FirstFire Note) which has not been cured within the period stipulated by the March 2022 FirstFire Note, the March 2022 FirstFire Note shall become immediately due and payable and the Company shall pay to FirstFire, in full satisfaction of its obligations hereunder, an amount equal to the March 2022 FirstFire Principal Sum then outstanding plus accrued interest multiplied by 125 ● Pursuant to the March 2022 FirstFire SPA, the March 2022 FirstFire Commitment Shares and the shares underlying the March 2022 FirstFire Note and March 2022 FirstFire Warrant carry standard registration rights. Upon issuance of the March 2022 FirstFire Note, the Company received net proceeds of $ 100,000 100,000 1,158 45,418 53,424 110,000 Upon the issuance of the July 2022 FirstFire Note, July 2022 GS Note, July 2022 Ionic Note, and July 2022 Jefferson Note described below, the conversion price of the March 2022 FirstFire Note was reduced from $ 1.00 0.10 During the quarter ended August 31, 2022, the Company recorded interest expense of $ 55,000 As of August 31, 2022, the carrying value of the March 2022 FirstFire Note was $ 97,446 12,554 March 2022 GS Capital Securities 12% Convertible Promissory Note On March 21, 2022, the Company entered into a securities purchase agreement (the “March 2022 GS SPA”) with GS, pursuant to which the Company issued (i) a 12 82,500 703 three 37,500 1.00 The following are the material terms of the March 2022 GS SPA and March 2022 GS Note: ● The March 2022 GS Note matures on September 21, 2022 ● At its election, GS may convert the March 2022 GS Note into the Company’s common stock (subject to the beneficial ownership limitations of 4.99 9.99 1.00 ● The Company agree to pay interest on the March 2022 GS Principal Sum at the rate of 12 ● The March 2022 GS Note carries an original issue discount of $ 7,500 ● The Company may prepay the March 2022 GS Note at any time prior to maturity in accordance with the terms of the March 2022 GS Note. ● The March 2022 GS Note contains customary events of default relating to, among other things, payment defaults, breach of representations and warranties, and breach of provisions of the March 2022 GS Note or the March 2022 GS SPA. Upon the occurrence of any event of default (as defined in the March 2022 GS Note) which has not been cured within the period stipulated by the March 2022 GS Note, the March 2022 GS Note shall become immediately due and payable and the Company shall pay to GS, in full satisfaction of its obligations hereunder, an amount equal to the March 2022 GS Principal Sum then outstanding plus accrued interest multiplied by 125 ● Pursuant to the March 2022 GS SPA, the March 2022 GS Commitment Shares and the shares underlying the March 2022 GS Note and March 2022 GS Warrant carry standard registration rights. Upon issuance of the March 2022 GS Note, the Company received net proceeds of $ 75,000 75,000 871 34,062 40,067 82,500 Upon the issuance of the July 2022 FirstFire Note, July 2022 GS Note, July 2022 Ionic Note, and July 2022 Jefferson Note described below, the conversion price of the March 2022 GS Note was reduced from $ 1.00 0.10 During the quarter ended August 31, 2022, the Company recorded interest expense of $ 41,250 As of August 31, 2022, the carrying value of the March 2022 GS Note was $ 73,084 9,416 March 2022 Ionic Ventures 12% Convertible Promissory Note On March 21, 2022, the Company entered into a securities purchase agreement (the “March 2022 Ionic SPA”) with Ionic, pursuant to which the Company issued (i) a 12 110,000 935 three 50,000 1.00 The following are the material terms of the March 2022 Ionic SPA and March 2022 Ionic Note: ● The March 2022 Ionic Note matures on September 21, 2022 ● At its election, Ionic may convert the March 2022 Ionic Note into the Company’s common stock (subject to the beneficial ownership limitations of 4.99 9.99 1.00 ● The Company agree to pay interest on the March 2022 Ionic Principal Sum at the rate of 12 ● The March 2022 Ionic Note carries an original issue discount of $ 10,000 ● The Company may prepay the March 2022 Ionic Note at any time prior to maturity in accordance with the terms of the March 2022 Ionic Note. ● The March 2022 Ionic Note contains customary events of default relating to, among other things, payment defaults, breach of representations and warranties, and breach of provisions of the March 2022 Ionic Note or the March 2022 Ionic SPA. Upon the occurrence of any event of default (as defined in the March 2022 Ionic Note) which has not been cured within the period stipulated by the March 2022 Ionic Note, the March 2022 Ionic Note shall become immediately due and payable and the Company shall pay to Ionic, in full satisfaction of its obligations hereunder, an amount equal to the March 2022 Ionic Principal Sum then outstanding plus accrued interest multiplied by 125 ● Pursuant to the March 2022 Ionic SPA, the March 2022 Ionic Commitment Shares and the shares underlying the March 2022 Ionic Note and March 2022 Ionic Warrant carry standard registration rights. Upon issuance of the March 2022 Ionic Note, the Company received net proceeds of $ 100,000 100,000 1,158 45,418 53,424 110,000 Upon the issuance of the July 2022 FirstFire Note, July 2022 GS Note, July 2022 Ionic Note, and July 2022 Jefferson Note described below, the conversion price of the March 2022 Ionic Note was reduced from $ 1.00 0.10 During the quarter ended August 31, 2022, the Company recorded interest expense of $ 55,000 As of August 31, 2022, the carrying value of the March 2022 Ionic Note was $ 97,446 12,554 April 2022 Jefferson Street Capital LLC 12% Convertible Promissory Note On April 1, 2022, the Company entered into a securities purchase agreement (the “April 2022 Jefferson SPA”) with Jefferson, pursuant to which the Company issued (i) a 12 82,500 703 three 37,500 1.00 The following are the material terms of the April 2022 Jefferson SPA and April 2022 Jefferson Note: ● The April 2022 Jefferson Note matures on October 1, 2022 ● At its election, Jefferson may convert the April 2022 Jefferson Note into the Company’s common stock (subject to the beneficial ownership limitations of 4.99 9.99 1.00 ● The Company agree to pay interest on the April 2022 Jefferson Principal Sum at the rate of 12 ● The April 2022 Jefferson Note carries an original issue discount of $ 7,500 ● The Company may prepay the April 2022 Jefferson Note at any time prior to maturity in accordance with the terms of the April 2022 Jefferson Note. ● The April 2022 Jefferson Note contains customary events of default relating to, among other things, payment defaults, breach of representations and warranties, and breach of provisions of the April 2022 Jefferson Note or the April 2022 Jefferson SPA. Upon the occurrence of any event of default (as defined in the April 2022 Jefferson Note) which has not been cured within the period stipulated by the April 2022 Jefferson Note, the April 2022 Jefferson Note shall become immediately due and payable and the Company shall pay to Jefferson, in full satisfaction of its obligations hereunder, an amount equal to the April 2022 Jefferson Principal Sum then outstanding plus accrued interest multiplied by 125 ● Pursuant to the April 2022 Jefferson SPA, the April 2022 Jefferson Commitment Shares and the shares underlying the April 2022 Jefferson Note and April 2022 Jefferson Warrant carry standard registration rights. Upon issuance of the April 2022 Jefferson Note, the Company received net proceeds of $ 75,000 75,000 871 34,062 40,067 82,500 Upon the issuance of the July 2022 FirstFire Note, July 2022 GS Note, July 2022 Ionic Note, and July 2022 Jefferson Note described below, the conversion price of the April 2022 Jefferson Note was reduced from $ 1.00 0.10 During the quarter ended August 31, 2022, the Company recorded interest expense of $ 41,250 As of May 31, 2022, the carrying value of the April 2022 Jefferson Note was $ 73,084 9,416 July 2022 FirstFire Global 12% Convertible Promissory Note On July 14, 2022, the Company entered into a securities purchase agreement (the “July 2022 FirstFire SPA”) with FirstFire, pursuant to which the Company issued (i) a 12 27,500 935 three 50,000 1.00 The following are the material terms of the July 2022 FirstFire SPA and July 2022 FirstFire Note: ● The July 2022 FirstFire Note matures on September 14, 2022 ● At its election, FirstFire may convert the July 2022 FirstFire Note into the Company’s common stock (subject to the beneficial ownership limitations of 4.99 9.99 0.10 ● The Company agree to pay interest on the July 2022 FirstFire Principal Sum at the rate of 12 ● The July 2022 FirstFire Note carries an original issue discount of $ 2,500 ● The Company may prepay the July 2022 FirstFire Note at any time prior to maturity in accordance with the terms of the July 2022 FirstFire Note. ● The July 2022 FirstFire Note contains customary events of default relating to, among other things, payment defaults, breach of representations and warranties, and breach of provisions of the July 2022 FirstFire Note or the July 2022 FirstFire SPA. Upon the occurrence of any event of default (as defined in the July 2022 FirstFire Note) which has not been cured within the period stipulated by the July 2022 FirstFire Note, the July 2022 FirstFire Note shall become immediately due and payable and the Company shall pay to FirstFire, in full satisfaction of its obligations hereunder, an amount equal to the July 2022 FirstFire Principal Sum then outstanding plus accrued interest multiplied by 125 Upon issuance of the July 2022 FirstFire Note, the Company received net proceeds of $ 25,000 25,000 136 3,825 6,461 During the quarter ended August 31, 2022, the Company recorded interest expense of $ 5,552 5,002 550 26,041 1,459 July 2022 GS Capital Securities 12% Convertible Promissory Note On July 14, 2022, the Company entered into a securities purchase agreement (the “July 2022 GS SPA”) with GS, pursuant to which the Company issued (i) a 12 27,500 935 three 50,000 1.00 The following are the material terms of the July 2022 GS SPA and July 2022 GS Note: ● The July 2022 GS Note matures on September 14, 2022 ● At its election, GS may convert the July 2022 GS Note into the Company’s common stock (subject to the beneficial ownership limitations of 4.99 9.99 0.10 ● The Company agree to pay interest on the July 2022 GS Principal Sum at the rate of 12 ● The July 2022 GS Note carries an original issue discount of $ 2,500 ● The Company may prepay the July 2022 GS Note at any time prior to maturity in accordan |
STOCKHOLDERS_ EQUITY
STOCKHOLDERS’ EQUITY | 3 Months Ended |
Aug. 31, 2022 | |
Equity [Abstract] | |
STOCKHOLDERS’ EQUITY | NOTE 9 - STOCKHOLDERS’ EQUITY Preferred Stock The Company is authorized to issue 1,000,000 0.0001 one no On August 23, 2022, the Company filed with the Delaware Secretary of State a certificate of designations (the “Certificate of Designations”) to designate one share of the Company’s preferred stock as the Series X Convertible Preferred Stock (“Series X Preferred”). The one share of Series X Preferred has a number of votes equal to all of the other votes entitled to be cast on any matter by any other shares or securities of the Company, plus one. The Series X Preferred does not have any economic or other interest in the Company. The share of Series X Preferred may not be transferred after issuance. If any transfer is attempted, the Series X Preferred will be automatically redeemed by the Company at a redemption price of $ 1.00 On August 29, 2022, the Company issued and sold to Roman Franklin, the Company’s Chief Executive Officer, principal financial officer, principal accounting officer, member of the Company’s Board of Directors, and greater than 5% stockholder, one share of the Company’s Series X Preferred for a purchase price of $ 1,000 At the election of the Series X Preferred holder at any time following the date that the Company has amended its articles of incorporation to increase the authorized shares of common stock such that there are sufficient authorized but unissued shares of common stock to permit conversion of the Series X Preferred as set forth in the Certificate of Designations, the Series X Preferred is convertible into 500,000,000 Upon issuance of the Series X Preferred, the Company estimated the fair market value of the Series X Preferred to be $ 183,498 182,498 1,000 Common Stock The Company is authorized to issue 36,000,000 0.0001 3,120,161 1,830,818 During the quarter ended August 31, 2022, the Company issued shares of its common stock as follows: ● On June 1, 2022, the Company issued 100,000 1.22 100,000 22,000 ● On June 24, 2021, the Company issued 1,667 2.81 316 ● On June 24, 2021, the Company issued 3,571 1.35 179 ● On June 30, 2022, the Company issued 100,000 0.47 50,000 3,000 ● On July 18, 2022, the Company issued 599,350 0.19 53,000 6,935 53,942 ● On July 27, 2022, the Company issued 95,000 0.13 9,500 2,850 ● On July 28, 2022, the Company issued 67,755 0.13 6,776 2,033 ● On August 4, 2022, the Company issued 100,000 0.12 5,000 7,000 ● On August 23, 2022, the Company issued 110,000 0.075 10,000 1,000 2,750 ● On August 30, 2022, the Company issued 112,000 0.06 5,000 1,720 Warrants As of August 31, 2022, the Company has issued and outstanding warrants to purchase shares of its common stock as follows: SCHEDULE OF ISSUED AND OUTSTANDING WARRANTS TO PURCHASE Number of Issue Warrants Vesting Termination Exercise Date Outstanding Date Date Price 11/20/2018 682,688 11/20/2018 11/20/2023 $ 92.00 5/31/2019 120,313 5/31/2019 5/31/2024 $ 32.00 6/1/2020 3,125 6/1/2020 6/1/2025 $ 32.00 6/10/2021 750,000 6/10/2021 6/10/2024 $ 0.10 6/18/2021 100,000 6/18/2021 6/10/2024 $ 20.00 8/4/2021 365,000 8/4/2021 10/12/2024 $ 13.00 8/23/2021 156,250 8/23/2021 8/23/2024 $ 0.10 8/31/2021 187,480 8/31/2021 8/31/2024 $ 0.10 9/17/2021 40,000 9/17/2021 9/17/2024 $ 0.10 9/28/2021 729,167 9/28/2021 9/28/2024 $ 0.10 10/1/2021 40,000 10/1/2021 10/1/2024 $ 0.10 11/18/2021 48,000 11/18/2021 11/18/2024 $ 0.10 3/21/2022 137,500 3/21/2022 3/21/2025 $ 0.10 4/1/2022 37,500 4/1/2022 4/1/2025 $ 0.10 7/14/2022 200,000 7/14/2022 7/14/2025 $ 1.00 3,597,023 During the quarter ended August 31, 2022, the Company issued 200,000 1.00 0 134 3.16 3.0 During the quarter ended August 31, 2021, the Company issued 1,458,730 During the quarter ended August 31, 2021, the Company sold warrants to an accredited investor for an aggregate purchase price of $ 100,000 100,000 20.00 Stock-Based Compensation The Company did not issue any options to purchase its common shares during the quarters ended August 31, 2022, or 2021. The table below presents option activity for the quarter ended August 31, 2022: SCHEDULE OF OUTSTANDING STOCK WARRANTS Number of Shares Weighted Average Exercise Price per Share Weighted Average Remaining Contractual Life (in years) Balance at May 31, 2022 462,500 $ 2.77 2.9 Options exercised - - - Options granted - - - Options expired - - - Options forfeited (72,500 ) 2.77 2.7 Outstanding at August 31, 2022 390,000 $ 2.77 2.7 Exercisable at August 31, 2022 320,000 $ 2.77 2.7 Stock based compensation expense related to options for the quarters ended August 31, 2022, and August 31, 2021, amounted to $ 89,597 0 75,582 0 |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 3 Months Ended |
Aug. 31, 2022 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | NOTE 10 — SUBSEQUENT EVENTS Conversion of Convertible Promissory Notes Subsequent to the reporting period, the holders of $ 150,535 3,798,000 Approval of Increase in Authorized Shares of Common Stock On September 1, 2022, the Board and stockholders holding of a majority of the voting power of the issued and outstanding capital stock of the Company, including the Series X Preferred, approved an amendment (the “Amendment”) to the Company’s third amended and restated certificate of incorporation, as amended (the “Certificate of Incorporation”) increasing the number of our authorized shares of common stock from 36,000,000 250,000,000 Ionic, Jefferson Street and FirstFire Securities Purchase Agreements, Notes and Warrants In addition, on September 8, 2022, the Company (i) entered into securities purchase agreements with each of Ionic, Jefferson Street and FirstFire, (ii) issued 12 September 2022 Ionic Securities Purchase Agreement & 12% Promissory Note On September 8, 2022, the Company entered into a securities purchase agreement (the “September 2022 Ionic SPA”), dated as of September 8, 2022, with Ionic, pursuant to which the Company issued a 12 January 8, 2023 66,000 66,000 12 6,000 60,000 4.99 9.99 0.02 The Company may prepay the September 2022 Ionic Note in accordance with the terms of the September 2022 Ionic Note, with the understanding that $ 2,640 Upon the occurrence of any Event of Default (as defined in the September 2022 Ionic Note), which has not been cured within the time prescribed in the September 2022 Ionic Note, it shall become immediately due and payable and the Company shall pay to Ionic, in full satisfaction of its obligations hereunder, an amount equal to the principal amount then outstanding plus accrued interest multiplied by 125% September 2022 Ionic Ventures Common Stock Purchase Warrant Pursuant to the terms of the September 2022 Ionic SPA, on September 8, 2022, the Company also issued to Ionic a three 120,000 1.00 September 2022 Jefferson Street Securities Purchase Agreement & 12% Promissory Note On September 8, 2022, the Company entered into a securities purchase agreement (the “September 2022 Ionic SPA”), dated as of September 8, 2022, with Jefferson Street, pursuant to which the Company issued a 12 January 8, 2023 27,500 27,500 12 2,500 25,000 4.99 9.99 0.02 The Company may prepay the September 2022 Jefferson Street Note in accordance with the terms of the September 2022 Jefferson Street Note, with the understanding that $ 1,100 Upon the occurrence of any Event of Default (as defined in the September 2022 Jefferson Street Note), which has not been cured within the time prescribed in the September 2022 Jefferson Street Note, it shall become immediately due and payable and the Company shall pay to Jefferson Street, in full satisfaction of its obligations hereunder, an amount equal to the principal amount then outstanding plus accrued interest multiplied by 125% September 2022 Jefferson Street Common Stock Purchase Warrant Pursuant to the terms of the September 2022 Jefferson Street SPA, on September 8, 2022, the Company also issued to Jefferson Street a three 45,454 1.00 September 2022 FirstFire Securities Purchase Agreement & 12% Promissory Note On September 8, 2022, the Company entered into a securities purchase agreement (the “September 2022 FirstFire SPA”), dated as of September 8, 2022, with FirstFire, pursuant to which the Company issued a 12 January 8, 2023 66,000 66,000 12 6,000 60,000 4.99 9.99 0.02 The Company may prepay the September 2022 FirstFire Note in accordance with the terms of the September 2022 FirstFire Note, with the understanding that $ 2,640 Upon the occurrence of any Event of Default (as defined in the September 2022 FirstFire Note), which has not been cured within the time prescribed in the September 2022 FirstFire Note, it shall become immediately due and payable and the Company shall pay to FirstFire, in full satisfaction of its obligations hereunder, an amount equal to the principal amount then outstanding plus accrued interest multiplied by 125% September 2022 FirstFire Common Stock Purchase Warrant Pursuant to the terms of the September 2022 FirstFire SPA, on September 8, 2022, the Company also issued to FirstFire a three-year 120,000 1.00 Diverted River Exchange Agreement On September 28, 2022, the Company entered into an exchange agreement (the “Exchange Agreement”), dated as of September 28, 2022, by and among the Company, Diverted River Technology, LLC (“Diverted River”), the member(s) of Diverted River from time to time (the “Members”) and Zachary Johnson, as the Members’ representative. Pursuant to the terms of the Exchange Agreement, the Company agreed to acquire from the Members 100 80 Following the Closing, Diverted River will become a wholly owned subsidiary of the Company. Also following the Closing, it is expected that the Company’s name will be changed to Diverted River Technology, Inc., and the business of the Company will become that of Diverted River, an ETO focused on a sustainable, high margin, recurring revenue business model that requires limited capital expenditures. At the Closing, the Company will expand the size of the Company’s Board of Directors (the “Board”) by three persons, to a total of seven persons, and will name Mr. Johnson and, within 90 days after Closing, two other persons, as directors on the Board, one of whom will be an independent director. Also at the Closing, the Company will name Mr. Johnson as Chief Executive Officer of the Company. Within 90 days of Closing, the Board will name a Chief Technology Officer, subject to Mr. Johnson’s approval. At the Closing, the Company will also enter into employment agreements with Mr. Johnson and certain other Diverted River employees as identified and agreed by the parties. Within 90 days of Closing, the Company will hire Velocity 42 Limited as its primary software developer. The Exchange Agreement contains certain covenants, representations and warranties customary for an agreement of this type. In addition, the Closing is subject to the satisfaction or waiver of certain conditions, including, but not limited to, (i) the increase by the Company of its authorized shares of common stock to 250,000,000 60,000 4,000,000 1.00 The parties may terminate the Exchange Agreement pursuant to the terms of the Exchange Agreement, including, but not limited to, if the conditions to Closing have not been satisfied or waived by December 15, 2022. |
SUMMARY OF SIGNIFICANT ACCOUN_2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 3 Months Ended |
Aug. 31, 2022 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X promulgated by the Securities and Exchange Commission (the “SEC”). In the opinion of management, the accompanying unaudited consolidated financial statements include all adjustments, consisting of a normal recurring nature, which are necessary for a fair presentation of the consolidated financial position, operating results and cash flows for the periods presented. The accompanying unaudited consolidated financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K, as filed with the SEC on September 27, 2022. The interim results for the three months ended August 31, 2022 are not necessarily indicative of the results to be expected for the year ending May 31, 2023 or for any future interim periods. |
Basis of Consolidation | Basis of Consolidation The accompanying unaudited consolidated financial statements include the operations of the Company and its wholly owned subsidiaries, Simplicity Esports, LLC, PLAYlive, Simplicity Union Gap, LLC, Simplicity Kennewick, LLC, Simplicity Humble, LLC, Simplicity Frisco, LLC, Simplicity Billings, LLC, Simplicity Brea, LLC, Simplicity Santa Rosa, LLC, Simplicity St. Louis, LLC, Simplicity St. Petersburg, LLC, Simplicity Fullerton, LLC, Simplicity Salinas, LLC, Simplicity Tracy, LLC, Simplicity Vancouver, LLC, Simplicity Fort Bliss, LLC, and PLAYlive Nation Holdings, LLC; its 59 79 51 All significant intercompany accounts and transactions have been eliminated in consolidation. |
Cash and cash equivalents | Cash and cash equivalents The Company considers short-term interest-bearing investments with initial maturities of three months or less to be cash equivalents. The Company has no |
Concentration of Credit Risk | Concentration of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash and cash equivalents and accounts receivable. Cash and cash equivalents in a financial institution, which at times, may exceed the Federal depository insurance coverage of $ 250,000 |
Financial Instruments | Financial Instruments The fair value of the Company’s assets and liabilities, which qualify as financial instruments under the Financial Accounting Standards Board (the “FASB”) Accounting Standards Codification (“ASC”) 820, “Fair Value Measurements and Disclosures,” approximates the carrying amounts represented in the consolidated balance sheet. |
Foreign Currencies | Foreign Currencies Revenue and expenses are translated at average rates of exchange prevailing during the period. |
Use of Estimates | Use of Estimates The preparation of consolidated financial statements in conformity with GAAP requires the Company’s management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. |
Revenue Recognition | Revenue Recognition In accordance with ASC 606, Revenues from Contracts with Customers The following describes principal activities, separated by major product or service, from which the Company generates its revenues. The following describes principal activities, separated by major product or service, from which the Company generates its revenues: |
Company-owned Store Sales | Company-owned Store Sales The Company-owned stores principally generate revenue from retail esports gaming centers. Revenues from Company-owned stores are recognized when the products are delivered, or the service is provided. After hours, the Company also mines for crypto currency using the computer equipment at the company-owned stores. Crypto mining revenue is recognized as the mining occurs. |
Franchise Revenues | Franchise Revenues Franchise revenues consist of royalties, fees and initial license fee income. Franchise royalties are based on six percent of franchise store sales after a minimum level of sales occur and are recognized as sales occur. Any royalty reductions, including waivers or those offered as part of a new store development incentive or as incentive for other behaviors, are recognized at the same time as the related royalty, as they are not separately distinguishable from the full royalty rate. Franchise royalties are billed on a monthly basis. The Company recognizes initial franchise license fee revenue when the Company has performed substantially all the services required in the franchise agreement. Fees received that do not meet these criteria are recorded as deferred revenues until earned. The pre-opening services provided to franchisees do not contain separate and distinct performance obligations from the franchise right; thus, the fees collected will be amortized on a straight-line basis beginning at the store opening date through the term of the franchise agreement, which is typically 10 The Company offers various incentive programs for franchisees including royalty incentives, new store opening incentives (i.e. development incentives) and other support initiatives. Royalties and franchise fees sales are reduced to reflect any royalty incentives earned or granted under these programs that are in the form of discounts. Commissary sales are comprised of gaming equipment and supplies sold to franchised stores and are recognized as revenue upon shipment or delivery of the related products to the franchisees. Payments are generally due within 30 days. Fees for information services, including software maintenance fees, marketing fees and website maintenance, graphic and promotion fees are recognized as revenue as such services are provided. |
Esports Revenue | Esports Revenue Esports is a form of competition using video games. Most commonly, esports takes the form of organized, single player and multiplayer video game tournaments or leagues, particularly between professional players, individually or as teams. Revenues from Esports revenues are recognized when the competition is completed, and prize money is awarded. Revenues earned from team sponsorships, prize winnings, league sponsorships, and from the Company’s share of league revenues are included in esports revenue. |
Deferred Revenues | Deferred Revenues Deferred revenues are classified as current or long-term based on when management estimates the revenues will be recognized. The Company receives payments from franchisees in advance of all performance obligations having been met, including but not limited to franchise locations being opened. As certain conditions agreed to in these franchise agreements are performed, revenues are recognized. Deferred costs include commissions paid to brokers related to the sale of specific new franchises which have not met revenue recognition criteria as of August 31, 2022, and May 31, 2022. These costs are recognized in the same period as the initial franchise fee revenue is recognized. The table below summarizes Deferred Revenues as of August 31, 2022: SCHEDULE OF DEFERRED REVENUES May 31, 2022 Revenue Recognized August 31, 2022 Deferred Revenue $ 180,388 $ 5,942 $ 174,446 Total $ 180,388 $ 5,942 $ 174,446 |
Accounts Receivable | Accounts Receivable The Company estimates the allowance for doubtful accounts based on an analysis of specific customers (i.e. franchisees), taking into consideration the age of past due accounts and an assessment of the customer’s ability to pay. Accounts receivable are written off against the allowance when management determines it is probable the receivable is worthless. Customer account balances with invoices dated over 90 days old are considered delinquent and considered in the allowance assessment. The Company performs credit evaluations of its customers and, generally, requires no collateral. Management has assessed accounts receivable and an allowance for doubtful accounts of approximately $68,879 39,000 |
Inventory | Inventory Inventories are stated at the lower of cost or market. The company periodically reviews the value of items in inventory and provides write-downs or write-offs of inventory based on its assessment of market conditions. The Company has recorded an impairment of approximately $ 75,733 |
Property and Equipment | Property and Equipment Property and equipment and leasehold improvements are recorded at its historical cost. The cost of property and equipment is depreciated over the estimated useful lives, when placed in service (ranging from 3 5 The Company continually monitors events and changes in circumstances that could indicate carrying amounts of long-lived assets may not be recoverable. When such events or changes in circumstances are present, the Company assesses the recoverability of long-lived assets by determining whether the carrying value of such assets will be recovered through undiscounted expected future cash flows. If the total of the future cash flows is less than the carrying amount of those assets, the Company recognizes an impairment loss based on the excess of the carrying amount over the fair value of the assets. Assets to be disposed of are reported at the lower of the carrying amount or the fair value less costs to sell. The Company has recorded impairment charges of approximately $ 125,622 |
Intangible Assets and Impairment | Intangible Assets and Impairment Intangible assets that are subject to amortization are reviewed for potential impairment whenever events or circumstances indicate that carrying amounts may not be recoverable. Assets not subject to amortization are tested for impairment at least annually. These costs were included in intangible assets on our balance sheet and amortized on a straight-line basis when placed into service over the estimated useful lives of the costs, which is 3 5 The Company periodically reviews its intangible assets for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be fully recoverable. The Company recognizes an impairment loss when the sum of expected undiscounted future cash flows is less that the carrying amount of the asset. The amount of impairment is measured as the difference between the asset’s estimated fair value and its book value. For the three months ended August 31, 2022, the Company performed an internal evaluation of the intangible assets which indicated impairment was required and recorded an impairment charge of approximately $ 1,004,142 |
Goodwill | Goodwill Goodwill is the excess of our purchase cost over the fair value of the net assets of acquired businesses. We do not amortize goodwill, but we assess our goodwill for impairment at least annually. Our assessment date is May 31, and we performed an internal evaluation of the goodwill value at August 31, 2022 with quantitative and qualitative considerations. Based on this internal evaluation, we recorded an impairment charge of $ 1,472,884 |
Franchise Locations | Franchise Locations Through PLAYlive, the Company’s wholly owned subsidiary, the Company has entered into franchise agreements with third parties. As of August 31, 2022, 12 franchise locations were considered to be operational in various states including Arizona, California, Florida, Idaho, Maryland, Ohio, South Carolina, Texas and Washington. |
Stock-based Compensation | Stock-based Compensation The Company records stock-based compensation in accordance with ASC 718, Compensation – Stock Compensation The Company records stock-based compensation in accordance with ASC 718, Compensation – Stock Compensation Equity-Based Payments to Non-Employees |
Non employee stock-based payments | Non employee stock-based payments The Company records stock-based payments made to non-employees in accordance with Accounting Standards Update (“ASU”) 2018-07, Compensation-Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting, |
Basic Income (Loss) Per Share | Basic Income (Loss) Per Share The Company complies with accounting and disclosure requirements ASC Topic 260, “Earnings Per Share.” Net income (loss) - per share is calculated by dividing the Company’s net income (loss) by the weighted average number of common shares outstanding during the period. Diluted earnings or loss per common share is calculated by dividing the Company’s net income or loss available to common stockholders by the diluted weighted average number of common shares outstanding during the period. The diluted weighted average number of shares outstanding is the basic weighted number of shares adjusted for any potentially dilutive debt or equity. For this calculation potentially dilutive securities consist primarily of warrants, outstanding options and shares into which the company’s convertible notes payable are convertible. When the Company records a loss from operations, all potentially dilutive shares are anti-dilutive and are consequently excluded from the calculation of diluted net loss per common share. |
Income Taxes | Income Taxes The Company complies with the accounting and reporting requirements of ASC Topic 740, “ Income Taxes ASC Topic 740 prescribes a recognition threshold and a measurement attribute for the consolidated financial statements recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more-likely-than-not to be sustained upon examination by taxing authorities. |
Recently Issued and Recently Adopted Accounting Pronouncements | Recently Issued and Recently Adopted Accounting Pronouncements Accounting standards promulgated by the FASB are subject to change. Changes in such standards may have an impact on the Company’s future financial statements. The following are a summary of recent accounting developments. In August 2020, the FASB issued ASU 2020-06, Debt — Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging — Contracts in Entity’s Own Equity (Subtopic 815-40) (“ASU 2020-06”) to simplify accounting for certain financial instruments. ASU 2020-06 eliminates the current models that require separation of beneficial conversion and cash conversion features from convertible instruments and simplifies the derivative scope exception guidance pertaining to equity classification of contracts in an entity’s own equity. The new standard also introduces additional disclosures for convertible debt and freestanding instruments that are indexed to and settled in an entity’s own equity. ASU 2020-06 amends the diluted earnings per share guidance, including the requirement to use the if-converted method for all convertible instruments. ASU 2020-06 is effective June 1, 2023 and should be applied on a full or modified retrospective basis, with early adoption permitted beginning on January 1, 2021. The Company is evaluating the impact of the adoption of ASU 2020-06 on the Company’s financial statements. In May 2021, the FASB issued ASU 2021-04, Earning Per Share (Topic 260) Debt-Modifications and Extinguishments (Subtopic 470-50) Compensation-Stock Compensation (Topic 718) Derivatives and Hedging - Contracts in Entity’s Own Equity (Subtopic 815-40) Management does not believe that any other recently issued, but not yet effective, accounting standards, if currently adopted, would have a material effect on the Company’s financial statements. |
Going Concern, Liquidity and Management’s Plan | Going Concern, Liquidity and Management’s Plan The Company’s unaudited consolidated financial statements have been prepared assuming that it will continue as a going concern, which contemplates continuity of operations, realization of assets, and liquidation of liabilities in the normal course of business. As reflected in the unaudited consolidated financial statements, as of August 31, 2022, the Company had an accumulated deficit of $ 33,995,554 5,515,754 4,157,110 The Company’s cash position may not be sufficient to support the Company’s daily operations. Management intends to raise additional funds by way of private and/or public offerings. While the Company believes in the viability of its strategy and its ability to generate sufficient revenue and to raise additional funds, there can be no assurances to that effect. Should the Company fail to raise additional capital, it may be compelled to reduce the scope of its planned future business activities. The ability of the Company to continue as a going concern is dependent upon the Company’s ability to further implement its business plan, to generate sufficient revenue and to raise additional funds by way of public and/or private offerings. The unaudited consolidated financial statements do not include any adjustments related to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. In December 2019, a novel strain of coronavirus (COVID-19) emerged in Wuhan, Hubei Province, China. While initially the outbreak was largely concentrated in China and caused significant disruptions to its economy, it has now spread to several other countries and infections have been reported globally. Because COVID-19 infections have been reported throughout the United States, certain federal, state and local governmental authorities have issued stay-at-home orders, proclamations and/or directives aimed at minimizing the spread of COVID-19. Additional, more restrictive proclamations and/or directives may be issued in the future. As a result, all of our corporate and franchised Simplicity Gaming Centers were closed effective April 1, 2020. We commenced reopening Simplicity Gaming Centers as of May 1, 2020 and subsequently reopened the majority of our company owned stores and franchise locations. Although our franchise agreements with franchisees of Simplicity Gaming Centers require a minimum monthly royalty payment to us from the franchisees regardless of whether the franchised Simplicity Gaming Centers are operating, there is a potential risk that franchisees of Simplicity Gaming Centers will default in their obligations to pay their minimum monthly royalty payment to us resulting in either an increase in accounts receivables or a bad debt expense where account receivables are no longer collectible due to franchisee’s inability to pay the minimum monthly royalty payments owed by the franchisee. The ultimate impact of the COVID-19 pandemic on the Company’s operations is unknown and will depend on future developments, which are highly uncertain and cannot be predicted with confidence, including the duration of the COVID-19 outbreak, new information which may emerge concerning the severity of the COVID-19 pandemic, and any additional preventative and protective actions that governments, or the Company, may direct, which may result in an extended period of continued business disruption, reduced customer traffic and reduced operations. Any resulting financial impact cannot be reasonably estimated at this time but is anticipated to have a material adverse impact on our business, financial condition and results of operations. The measures taken to date impacted the Company’s business for the fiscal year ended May 31, 2022 as well as the fiscal quarter ended August 31, 2022 and will potentially continue to impact the Company’s business. Management expects that all of its business segments, across all of its geographies, will be impacted to some degree, but the significance of the impact of the COVID-19 outbreak on the Company’s business and the duration for which it may have an impact cannot be determined at this time. |
SUMMARY OF SIGNIFICANT ACCOUN_3
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 3 Months Ended |
Aug. 31, 2022 | |
Accounting Policies [Abstract] | |
SCHEDULE OF DEFERRED REVENUES | The table below summarizes Deferred Revenues as of August 31, 2022: SCHEDULE OF DEFERRED REVENUES May 31, 2022 Revenue Recognized August 31, 2022 Deferred Revenue $ 180,388 $ 5,942 $ 174,446 Total $ 180,388 $ 5,942 $ 174,446 |
PROPERTY, PLANT AND EQUIPMENT (
PROPERTY, PLANT AND EQUIPMENT (Tables) | 3 Months Ended |
Aug. 31, 2022 | |
Property, Plant and Equipment [Abstract] | |
SCHEDULE OF PROPERTY AND EQUIPMENT | The following is a summary of property, plant, and equipment—at cost, less accumulated depreciation: SCHEDULE OF PROPERTY AND EQUIPMENT August 31, 2022 May 31, 2022 Leasehold improvements $ 17,877 $ 50,981 Property and equipment 328,811 477,812 Total cost 346,688 528,793 Less accumulated depreciation (295,156 ) (333,591 ) Net property plant and equipment $ 51,532 $ 195,202 |
INTANGIBLE ASSETS (Tables)
INTANGIBLE ASSETS (Tables) | 3 Months Ended |
Aug. 31, 2022 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
SCHEDULE OF INTANGIBLE ASSETS | The following table sets forth the intangible assets, including accumulated amortization as of August 31, 2022: SCHEDULE OF INTANGIBLE ASSETS August 31, 2022 Remaining Accumulated Net Carrying Useful Life Cost Amortization Value Internet Domain 2 $ 3,000 $ 3,000 $ - $ 3,000 $ 3,000 $ - The following tables set forth the intangible assets, including accumulated amortization as of May 31, 2022: May 31, 2022 Remaining Accumulated Net Carrying Useful Life Cost Amortization Value Trademarks Indefinite 866,000 - 866,000 Customer Database 2 35,000 33,542 1,458 Restrictive Covenant 2 115,000 110,208 4,792 Customer Contracts Varies 185,563 50,671 134,892 $ 1,201,563 $ 194,421 $ 1,007,142 |
SCHEDULE OF FUTURE AMORTIZATION OF INTANGIBLE ASSETS | The following table sets forth the future amortization of the Company’s intangible assets as of August 31, 2022 for the fiscal years ending May 31: SCHEDULE OF FUTURE AMORTIZATION OF INTANGIBLE ASSETS 2022 2023 2024 2025 2026 Thereafter Total Non-Competes $ - $ - $ - $ - $ - $ - $ - Customer Contracts - - - - - - - Restrictive Covenant - - - - - - - Customer Database - - - - - - - Internet Domain - - - - - - - Total $ - $ - $ - $ - $ - $ - $ - |
SCHEDULE OF GOODWILL | The Company’s goodwill carrying amounts relate to the acquisitions of Simplicity Esports LLC and PLAYlive. The composition of the goodwill balance, is as follows: SCHEDULE OF GOODWILL Three Months Ended August 31, 2022 Fiscal Year Ended May 31, 2022 Simplicity Esports LLC $ - $ 1,034,662 PLAYlive Nation Inc. - 413,222 Ft. Bliss - 25,000 Total Goodwill $ - $ 1,472,884 |
COMMITMENTS AND CONTINGENCIES (
COMMITMENTS AND CONTINGENCIES (Tables) | 3 Months Ended |
Aug. 31, 2022 | |
Commitments and Contingencies Disclosure [Abstract] | |
SUMMARIZES OF RIGHT OF USE ASSET AND LEASE LIABILITY | The following table summarizes the right-of use asset and lease liability as of August 31, 2022: SUMMARIZES OF RIGHT OF USE ASSET AND LEASE LIABILITY Right-of-use Asset, net $ 415,958 Lease Liability Current $ 357,187 Long Term 981,692 Total $ 1,338,879 |
SCHEDULE OF FUTURE MINIMUM LEASE PAYMENTS | The following table summarizes the Company’s scheduled future minimum lease payments as of August 31, 2022: SCHEDULE OF FUTURE MINIMUM LEASE PAYMENTS 2023 $ 450,377 2024 452,511 2025 405,795 2026 321,952 2027 and beyond 47,500 Total Operating Lease Obligations $ 1,678,135 Less: Amount representing imputed interest (339,256 ) Present value of minimum lease payments $ 1,338,879 Less current portion 357,187 Long term portion $ 981,692 |
DEBT (Tables)
DEBT (Tables) | 3 Months Ended |
Aug. 31, 2022 | |
Debt Disclosure [Abstract] | |
SCHEDULE OF OUTSTANDING DEBT BALANCES | The table below presents the Company’s outstanding debt balances as of August 31, 2022, and May 31, 2022: SCHEDULE OF OUTSTANDING DEBT BALANCES Convertible Promissory Notes Secured Promissory Notes Related Party Debt Short-Term Note Payable Principal Balance as of May 31, 2022 $ 5,361,347 $ 206,772 $ 247,818 $ 41,735 Carrying Value as of May 31, 2022 3,093,395 69,636 247,818 41,375 Principal Borrowings 110,000 - - - Repayments - (6,922 ) (247,818 ) - Conversions (94,276 ) - - - Totals 15,724 (6,922 ) (247,818 ) - Unamortized Debt Issuance Costs, Beneficial Conversion Feature, and Warrant Discount Beginning Balance (2,267,952 ) (137,136 ) - - Additions (25,842 ) - - - Accretion 784,291 5,193 - - Ending Balance (1,509,503 ) (131,943 ) - - Principal Balance as of August 31, 2022 $ 5,377,071 $ 199,850 $ - $ 41,735 Carrying Value as of August 31, 2022 3,867,568 67,907 - 41,735 Less Short-Term Portion 2,809,492 - - 41,735 Long Term Portion $ 1,058,076 $ 67,907 $ - $ - |
SCHEDULE OF PRINCIPLE MATURITIES OF OUTSTANDING DEBT | Scheduled principal maturities of the Company’s outstanding debt over the next five fiscal years is as follows: SCHEDULE OF PRINCIPLE MATURITIES OF OUTSTANDING DEBT Fiscal year ended May 31, 2023 $ 1,956,724 2024 3,533,026 2025 46,449 2026 51,312 2027 31,145 Thereafter - Outstanding Debt $ 5,618,656 |
STOCKHOLDERS_ EQUITY (Tables)
STOCKHOLDERS’ EQUITY (Tables) | 3 Months Ended |
Aug. 31, 2022 | |
Equity [Abstract] | |
SCHEDULE OF ISSUED AND OUTSTANDING WARRANTS TO PURCHASE | As of August 31, 2022, the Company has issued and outstanding warrants to purchase shares of its common stock as follows: SCHEDULE OF ISSUED AND OUTSTANDING WARRANTS TO PURCHASE Number of Issue Warrants Vesting Termination Exercise Date Outstanding Date Date Price 11/20/2018 682,688 11/20/2018 11/20/2023 $ 92.00 5/31/2019 120,313 5/31/2019 5/31/2024 $ 32.00 6/1/2020 3,125 6/1/2020 6/1/2025 $ 32.00 6/10/2021 750,000 6/10/2021 6/10/2024 $ 0.10 6/18/2021 100,000 6/18/2021 6/10/2024 $ 20.00 8/4/2021 365,000 8/4/2021 10/12/2024 $ 13.00 8/23/2021 156,250 8/23/2021 8/23/2024 $ 0.10 8/31/2021 187,480 8/31/2021 8/31/2024 $ 0.10 9/17/2021 40,000 9/17/2021 9/17/2024 $ 0.10 9/28/2021 729,167 9/28/2021 9/28/2024 $ 0.10 10/1/2021 40,000 10/1/2021 10/1/2024 $ 0.10 11/18/2021 48,000 11/18/2021 11/18/2024 $ 0.10 3/21/2022 137,500 3/21/2022 3/21/2025 $ 0.10 4/1/2022 37,500 4/1/2022 4/1/2025 $ 0.10 7/14/2022 200,000 7/14/2022 7/14/2025 $ 1.00 3,597,023 |
SCHEDULE OF OUTSTANDING STOCK WARRANTS | The table below presents option activity for the quarter ended August 31, 2022: SCHEDULE OF OUTSTANDING STOCK WARRANTS Number of Shares Weighted Average Exercise Price per Share Weighted Average Remaining Contractual Life (in years) Balance at May 31, 2022 462,500 $ 2.77 2.9 Options exercised - - - Options granted - - - Options expired - - - Options forfeited (72,500 ) 2.77 2.7 Outstanding at August 31, 2022 390,000 $ 2.77 2.7 Exercisable at August 31, 2022 320,000 $ 2.77 2.7 |
SCHEDULE OF DEFERRED REVENUES (
SCHEDULE OF DEFERRED REVENUES (Details) - USD ($) | Aug. 31, 2022 | May 31, 2022 |
Deferred Revenue | $ 174,446 | $ 180,388 |
Total | $ 174,446 | 180,388 |
Revenue Recognized [Member] | ||
Deferred Revenue | 5,942 | |
Total | $ 5,942 |
SUMMARY OF SIGNIFICANT ACCOUN_4
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($) | 3 Months Ended | ||
Aug. 31, 2022 | Aug. 31, 2021 | May 31, 2022 | |
Product Information [Line Items] | |||
Cash equivalents | $ 0 | $ 0 | |
Federal depository insurance coverage | 250,000 | ||
Allowance for doubtful accounts receivable | 68,879 | $ 39,000 | |
Inventory impairment | 75,733 | ||
Impairment of intangible asset | 125,622 | 0 | |
Impairment of intangible assets | 1,004,142 | ||
Good will impairment charge | 1,472,884 | 0 | |
Accumulated deficit | 33,995,554 | $ 29,838,444 | |
Working capital deficit | 5,515,754 | ||
Net loss | $ 4,157,110 | $ 4,210,907 | |
Minimum [Member] | |||
Product Information [Line Items] | |||
Finite-lived intangible asset, useful life | 3 years | ||
Property plant and equipment useful lives | 3 years | ||
Maximum [Member] | |||
Product Information [Line Items] | |||
Finite-lived intangible asset, useful life | 5 years | ||
Property plant and equipment useful lives | 5 years | ||
Franchise [Member] | |||
Product Information [Line Items] | |||
Finite-lived intangible asset, useful life | 10 years | ||
Simplicity One Brasil Ltd [Member] | |||
Product Information [Line Items] | |||
Equity method investment, ownership percentage | 59% | ||
Simplicity Happy Valley, LLC and Simplicity Redmond, LLC [Member] | |||
Product Information [Line Items] | |||
Equity method investment, ownership percentage | 79% | ||
Simplicity El Paso LLC [Member] | |||
Product Information [Line Items] | |||
Equity method investment, ownership percentage | 51% |
DISPOSITIONS (Details Narrative
DISPOSITIONS (Details Narrative) - USD ($) | 3 Months Ended | |
Aug. 31, 2022 | Jun. 10, 2022 | |
Discontinued Operations and Disposal Groups [Abstract] | ||
Value of license disposition | $ 391,776 | |
Value of license account receivable | 391,776 | |
Gain on disposal license | $ 240,924 | |
Disposal of assets | $ 75,500 | |
Other receivable | $ 316,276 |
SCHEDULE OF PROPERTY AND EQUIPM
SCHEDULE OF PROPERTY AND EQUIPMENT (Details) - USD ($) | Aug. 31, 2022 | May 31, 2022 |
Property, Plant and Equipment [Line Items] | ||
Total cost | $ 346,688 | $ 528,793 |
Less accumulated depreciation | (295,156) | (333,591) |
Net property plant and equipment | 51,532 | 195,202 |
Leasehold Improvements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Total cost | 17,877 | 50,981 |
Property, Plant and Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Total cost | $ 328,811 | $ 477,812 |
PROPERTY, PLANT AND EQUIPMENT_2
PROPERTY, PLANT AND EQUIPMENT (Details Narrative) - USD ($) | 3 Months Ended | |
Aug. 31, 2022 | Aug. 31, 2021 | |
Property, Plant and Equipment [Abstract] | ||
Depreciation | $ 18,048 | $ 81,737 |
Impairment of intangible asset | $ 125,622 | $ 0 |
SCHEDULE OF INTANGIBLE ASSETS (
SCHEDULE OF INTANGIBLE ASSETS (Details) - USD ($) | 3 Months Ended | 12 Months Ended |
Aug. 31, 2022 | May 31, 2022 | |
Finite-Lived Intangible Assets [Line Items] | ||
Intangible assets, gross | $ 3,000 | $ 1,201,563 |
Intangible assets, accumulated amortization | 3,000 | 194,421 |
Intangible assets, net | 1,007,142 | |
Internet Domain Names [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Intangible assets, useful life | 2 years | |
Intangible assets, gross | $ 3,000 | |
Intangible assets, accumulated amortization | 3,000 | |
Intangible assets, net | ||
Trademarks [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Intangible assets, gross | 866,000 | |
Intangible assets, accumulated amortization | ||
Intangible assets, net | $ 866,000 | |
Intangible assets, useful life, description | Indefinite | |
Customer Database [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Intangible assets, useful life | 2 months | |
Intangible assets, gross | $ 35,000 | |
Intangible assets, accumulated amortization | 33,542 | |
Intangible assets, net | $ 1,458 | |
Restrictive Covenant [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Intangible assets, useful life | 2 months | |
Intangible assets, gross | $ 115,000 | |
Intangible assets, accumulated amortization | 110,208 | |
Intangible assets, net | 4,792 | |
Customer Contracts [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Intangible assets, gross | 185,563 | |
Intangible assets, accumulated amortization | 50,671 | |
Intangible assets, net | $ 134,892 | |
Intangible assets, useful life, description | Varies |
SCHEDULE OF FUTURE AMORTIZATION
SCHEDULE OF FUTURE AMORTIZATION OF INTANGIBLE ASSETS (Details) | Aug. 31, 2022 USD ($) |
Finite-Lived Intangible Assets [Line Items] | |
2022 | |
2023 | |
2024 | |
2025 | |
2026 | |
Thereafter | |
Total | |
Noncompete Agreements [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
2022 | |
2023 | |
2024 | |
2025 | |
2026 | |
Thereafter | |
Total | |
Customer Contracts [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
2022 | |
2023 | |
2024 | |
2025 | |
2026 | |
Thereafter | |
Total | |
Restrictive Covenant [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
2022 | |
2023 | |
2024 | |
2025 | |
2026 | |
Thereafter | |
Total | |
Customer Database [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
2022 | |
2023 | |
2024 | |
2025 | |
2026 | |
Thereafter | |
Total | |
Internet Domain Names [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
2022 | |
2023 | |
2024 | |
2025 | |
2026 | |
Thereafter | |
Total |
SCHEDULE OF GOODWILL (Details)
SCHEDULE OF GOODWILL (Details) - USD ($) | Aug. 31, 2022 | May 31, 2022 |
Restructuring Cost and Reserve [Line Items] | ||
Total Goodwill | $ 1,472,884 | |
Simplicity Esports L L C [Member] | ||
Restructuring Cost and Reserve [Line Items] | ||
Total Goodwill | 1,034,662 | |
P L A Y Live Nation Inc [Member] | ||
Restructuring Cost and Reserve [Line Items] | ||
Total Goodwill | 413,222 | |
Ft Bliss [Member] | ||
Restructuring Cost and Reserve [Line Items] | ||
Total Goodwill | $ 25,000 |
INTANGIBLE ASSETS (Details Narr
INTANGIBLE ASSETS (Details Narrative) - USD ($) | 3 Months Ended | |
Aug. 31, 2022 | Aug. 31, 2021 | |
Goodwill and Intangible Assets Disclosure [Abstract] | ||
Intangible asset impairment | $ 1,004,142 | $ 0 |
Amortization expense | 333 | 77,188 |
Goodwill impairment | $ 1,472,884 | $ 0 |
RELATED PARTY TRANSACTIONS (Det
RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($) | 3 Months Ended | |||
Jun. 10, 2022 | Dec. 10, 2021 | Aug. 31, 2022 | Aug. 31, 2021 | |
Short-Term Debt [Line Items] | ||||
Interest expense | $ 847,117 | $ 659,696 | ||
Kaplan Promissory Note [Member] | Jed Kaplan [Member] | ||||
Short-Term Debt [Line Items] | ||||
Debt Instrument, Face Amount | $ 247,818 | |||
Debt Instrument, Interest Rate, Stated Percentage | 5% | |||
Debt Instrument, Maturity Date | Jun. 10, 2022 | |||
Interest expense | $ 6,178 | $ 339 |
SUMMARIZES OF RIGHT OF USE ASSE
SUMMARIZES OF RIGHT OF USE ASSET AND LEASE LIABILITY (Details) - USD ($) | Aug. 31, 2022 | May 31, 2022 |
Commitments and Contingencies Disclosure [Abstract] | ||
Right-of-use Asset, net | $ 415,958 | $ 532,216 |
Lease Liability | ||
Current | 357,187 | 332,519 |
Long Term | 981,692 | $ 1,092,627 |
Total | $ 1,338,879 |
SCHEDULE OF FUTURE MINIMUM LEAS
SCHEDULE OF FUTURE MINIMUM LEASE PAYMENTS (Details) - USD ($) | Aug. 31, 2022 | May 31, 2022 |
Commitments and Contingencies Disclosure [Abstract] | ||
2023 | $ 450,377 | |
2024 | 452,511 | |
2025 | 405,795 | |
2026 | 321,952 | |
2027 and beyond | 47,500 | |
Total Operating Lease Obligations | 1,678,135 | |
Less: Amount representing imputed interest | (339,256) | |
Present value of minimum lease payments | 1,338,879 | |
Less current portion | 357,187 | $ 332,519 |
Long term portion | $ 981,692 | $ 1,092,627 |
COMMITMENTS AND CONTINGENCIES_2
COMMITMENTS AND CONTINGENCIES (Details Narrative) - USD ($) | 3 Months Ended | 12 Months Ended | |||||||
May 17, 2021 | Mar. 29, 2021 | Mar. 29, 2020 | Aug. 31, 2022 | May 31, 2021 | Jul. 29, 2022 | May 31, 2022 | Aug. 31, 2021 | Jul. 29, 2020 | |
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | |||||||||
Operating lease impairment loss | $ 116,935 | ||||||||
Weighted average remaining lease terms | 3 years 2 months 12 days | 3 years 7 months 6 days | |||||||
Weighted average discount rate percentage | 12% | 12% | |||||||
Due to Related Parties, Current | $ 247,818 | ||||||||
Shares issued to directors, officers and employees as compensation | $ (494) | ||||||||
Jed Kaplan [Member] | |||||||||
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | |||||||||
Cash bonus | $ 75,000 | ||||||||
Salary and wage | $ 4,000 | ||||||||
Board of Directors [Member] | |||||||||
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | |||||||||
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture | 250,000 | ||||||||
MrKaplan [Member] | |||||||||
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | |||||||||
Due to Related Parties, Current | $ 35,000 | ||||||||
Mr. Franklin [Member] | |||||||||
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | |||||||||
Cash bonus | $ 75,000 | ||||||||
Due to Related Parties, Current | $ 35,000 | ||||||||
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture | 250,000 | ||||||||
Chief Executive Officer [Member] | Franklin Employment Agreement [Member] | |||||||||
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | |||||||||
Annual base salary | $ 250,000 | ||||||||
Maximum quarterly bonus amount | $ 15,000 | ||||||||
Chief Financial Officer [Member] | Hennessey Employment Agreement [Member] | |||||||||
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | |||||||||
Annual base salary | $ 140,000 | ||||||||
Maximum quarterly bonus amount | 12,500 | ||||||||
Shares issued to directors, officers and employees as compensation | $ 5,000 | ||||||||
Employment agreement description | Ms. Hennessey was also eligible to receive a quarterly bonus of up to $12,500 in the form of a cash bonus and/or equity grant of shares of the Company’s common stock. Pursuant to the terms of the Hennessey Employment Agreement, Ms. Hennessey was also to receive (i) 5,000 shares of common stock upon filing of the 2021 Annual Report on Form 10-K, if completed before July 31, 2021, and (ii) 5,000 shares of common stock upon completion of an uplisting to a national exchange, such as The Nasdaq Stock Market or the NYSE American |
SCHEDULE OF OUTSTANDING DEBT BA
SCHEDULE OF OUTSTANDING DEBT BALANCES (Details) | 3 Months Ended |
Aug. 31, 2022 USD ($) | |
Short-Term Debt [Line Items] | |
Principal Balance as of August 31, 2022 | $ 5,618,656 |
Convertible Promissory Notes [Member] | |
Short-Term Debt [Line Items] | |
Principal Balance as of May 31, 2022 | 5,361,347 |
Carrying Value as of May 31, 2022 | 3,093,395 |
Borrowings | 110,000 |
Repayments | |
Conversions | (94,276) |
Totals | 15,724 |
Beginning Balance | (2,267,952) |
Additions | (25,842) |
Accretion | 784,291 |
Ending Balance | (1,509,503) |
Principal Balance as of August 31, 2022 | 5,377,071 |
Carrying Value as of August 31, 2022 | 3,867,568 |
Less Short-Term Portion | 2,809,492 |
Long Term Portion | 1,058,076 |
Secured Promissory Notes [Member] | |
Short-Term Debt [Line Items] | |
Principal Balance as of May 31, 2022 | 206,772 |
Carrying Value as of May 31, 2022 | 69,636 |
Borrowings | |
Repayments | (6,922) |
Conversions | |
Totals | (6,922) |
Beginning Balance | (137,136) |
Additions | |
Accretion | 5,193 |
Ending Balance | (131,943) |
Principal Balance as of August 31, 2022 | 199,850 |
Carrying Value as of August 31, 2022 | 67,907 |
Less Short-Term Portion | |
Long Term Portion | 67,907 |
Related Party Debt [Member] | |
Short-Term Debt [Line Items] | |
Principal Balance as of May 31, 2022 | 247,818 |
Carrying Value as of May 31, 2022 | 247,818 |
Borrowings | |
Repayments | (247,818) |
Conversions | |
Totals | (247,818) |
Beginning Balance | |
Additions | |
Accretion | |
Ending Balance | |
Principal Balance as of August 31, 2022 | |
Carrying Value as of August 31, 2022 | |
Less Short-Term Portion | |
Long Term Portion | |
Short Term Note Payable [Member] | |
Short-Term Debt [Line Items] | |
Principal Balance as of May 31, 2022 | 41,735 |
Carrying Value as of May 31, 2022 | 41,375 |
Borrowings | |
Repayments | |
Conversions | |
Totals | |
Beginning Balance | |
Additions | |
Accretion | |
Ending Balance | |
Principal Balance as of August 31, 2022 | 41,735 |
Carrying Value as of August 31, 2022 | 41,735 |
Less Short-Term Portion | 41,735 |
Long Term Portion |
SCHEDULE OF PRINCIPLE MATURITIE
SCHEDULE OF PRINCIPLE MATURITIES OF OUTSTANDING DEBT (Details) | Aug. 31, 2022 USD ($) |
Debt Disclosure [Abstract] | |
2023 | $ 1,956,724 |
2024 | 3,533,026 |
2025 | 46,449 |
2026 | 51,312 |
2027 | 31,145 |
Thereafter | |
Outstanding Debt | $ 5,618,656 |
DEBT (Details Narrative)
DEBT (Details Narrative) | 1 Months Ended | 3 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||
Aug. 25, 2022 USD ($) shares | Aug. 24, 2022 USD ($) $ / shares shares | Jul. 29, 2022 USD ($) | Jul. 28, 2022 USD ($) $ / shares shares | Jul. 18, 2022 USD ($) $ / shares shares | Jul. 14, 2022 USD ($) $ / shares shares | Jun. 10, 2022 USD ($) | Apr. 29, 2022 USD ($) $ / shares shares | Apr. 25, 2022 USD ($) $ / shares shares | Apr. 18, 2022 USD ($) $ / shares shares | Apr. 01, 2022 USD ($) $ / shares shares | Mar. 21, 2022 USD ($) $ / shares shares | Mar. 21, 2022 USD ($) $ / shares shares | Mar. 16, 2022 USD ($) $ / shares | Nov. 18, 2021 USD ($) $ / shares shares | Nov. 15, 2021 USD ($) $ / shares shares | Oct. 01, 2021 USD ($) $ / shares shares | Sep. 28, 2021 USD ($) $ / shares shares | Sep. 16, 2021 USD ($) | Aug. 31, 2021 USD ($) $ / shares shares | Aug. 23, 2021 USD ($) $ / shares shares | Jun. 16, 2021 USD ($) $ / shares shares | Jun. 11, 2021 USD ($) $ / shares shares | Mar. 10, 2021 USD ($) $ / shares shares | Feb. 19, 2021 USD ($) $ / shares shares | Apr. 30, 2022 USD ($) | Aug. 31, 2022 USD ($) $ / shares shares | Aug. 31, 2021 USD ($) $ / shares shares | May 31, 2022 USD ($) | May 31, 2020 USD ($) | Aug. 23, 2022 USD ($) $ / shares | Jul. 31, 2022 $ / shares | Jul. 27, 2022 $ / shares shares | Mar. 31, 2022 $ / shares | Dec. 10, 2021 USD ($) | Sep. 17, 2021 $ / shares shares | Sep. 15, 2021 USD ($) | |
Short-Term Debt [Line Items] | |||||||||||||||||||||||||||||||||||||
Interest expense | $ 847,117 | $ 659,696 | |||||||||||||||||||||||||||||||||||
Payment for notes exchange | 6,922 | 590,909 | |||||||||||||||||||||||||||||||||||
Outstanding principal balance | 158,583 | ||||||||||||||||||||||||||||||||||||
Losses on extinguishment of debt | (51,574) | (1,759,969) | |||||||||||||||||||||||||||||||||||
Proceeds from notes payable | 100,000 | $ 1,715,000 | |||||||||||||||||||||||||||||||||||
Loan and Accrued interest | $ 6,178 | ||||||||||||||||||||||||||||||||||||
Long-Term Debt | $ 5,618,656 | ||||||||||||||||||||||||||||||||||||
Warrant [Member] | |||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||||||||||||||||||||
Number of share issued | shares | 100,000 | ||||||||||||||||||||||||||||||||||||
Warrant to purchase common stock | shares | 1,458,730 | 200,000 | 1,458,730 | ||||||||||||||||||||||||||||||||||
Warrant exercise price | $ / shares | $ 1 | ||||||||||||||||||||||||||||||||||||
Share price per share | $ / shares | $ 20 | $ 20 | |||||||||||||||||||||||||||||||||||
Equity Stake [Member] | |||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||||||||||||||||||||
Conversion rate | 0.17 | ||||||||||||||||||||||||||||||||||||
Jed Kaplan [Member] | |||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||||||||||||||||||||
Conversion rate | 0.37 | ||||||||||||||||||||||||||||||||||||
Total Stake [Member] | |||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||||||||||||||||||||
Conversion rate | 0.59 | ||||||||||||||||||||||||||||||||||||
Holder [Member] | |||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||||||||||||||||||||
Debt instrument face amount | $ 90,909 | $ 90,909 | |||||||||||||||||||||||||||||||||||
Payment for notes exchange | 225,000 | ||||||||||||||||||||||||||||||||||||
Repayment of guaranteed interest | 109,091 | 109,091 | |||||||||||||||||||||||||||||||||||
Amendment fee | 25,000 | 25,000 | |||||||||||||||||||||||||||||||||||
Labrys Fund LP [Member] | Maximum [Member] | |||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||||||||||||||||||||
Conversion price | $ / shares | $ 1 | $ 11.50 | |||||||||||||||||||||||||||||||||||
Labrys Fund LP [Member] | Minimum [Member] | |||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||||||||||||||||||||
Conversion price | $ / shares | 0.10 | 1 | |||||||||||||||||||||||||||||||||||
FirstFire Global Oppurtunities Fund, LLC [Member] | |||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||||||||||||||||||||
Interest rate | 12% | ||||||||||||||||||||||||||||||||||||
Debt instrument periodic payment principal | $ 560,000 | ||||||||||||||||||||||||||||||||||||
FirstFire Global Oppurtunities Fund, LLC [Member] | Warrant [Member] | |||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||||||||||||||||||||
Warrant to purchase common stock | shares | 40,000 | 40,000 | |||||||||||||||||||||||||||||||||||
Warrant exercise price | $ / shares | $ 10.73 | $ 10.73 | |||||||||||||||||||||||||||||||||||
Fair value adjustment of warrants | $ 201,351 | ||||||||||||||||||||||||||||||||||||
Interest expense charge | $ 201,351 | ||||||||||||||||||||||||||||||||||||
Outstanding principal balance | $ 9,500 | $ 50,000 | |||||||||||||||||||||||||||||||||||
FirstFire Global Oppurtunities Fund, LLC [Member] | Maximum [Member] | |||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||||||||||||||||||||
Conversion price | $ / shares | 1 | ||||||||||||||||||||||||||||||||||||
FirstFire Global Oppurtunities Fund, LLC [Member] | Minimum [Member] | |||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||||||||||||||||||||
Conversion price | $ / shares | 0.10 | ||||||||||||||||||||||||||||||||||||
Firstfire Global Opportunities Fund LLC [Member] | |||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||||||||||||||||||||
Accrued interest rate of debt instrument | 125% | ||||||||||||||||||||||||||||||||||||
Warrant to purchase common stock | shares | 50,000 | 95,000 | |||||||||||||||||||||||||||||||||||
Warrant exercise price | $ / shares | $ 1 | $ 0.10 | |||||||||||||||||||||||||||||||||||
Share price per share | $ / shares | $ 2.20 | $ 0.13 | |||||||||||||||||||||||||||||||||||
Losses on extinguishment of debt | $ 2,850 | $ 60,000 | |||||||||||||||||||||||||||||||||||
GS Capital Partners, LLC [Member] | Maximum [Member] | |||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||||||||||||||||||||
Conversion price | $ / shares | 1 | 11.50 | |||||||||||||||||||||||||||||||||||
GS Capital Partners, LLC [Member] | Minimum [Member] | |||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||||||||||||||||||||
Conversion price | $ / shares | 0.10 | 1 | |||||||||||||||||||||||||||||||||||
Ionic Note [Member] | |||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||||||||||||||||||||
Interest expense | $ 5,552 | ||||||||||||||||||||||||||||||||||||
Febraury 2021 Convertible Note [Member] | Labrys Fund LP [Member] | |||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||||||||||||||||||||
Maturity date | Sep. 15, 2022 | ||||||||||||||||||||||||||||||||||||
Debt instrument unamortized discount | $ 890,591 | 890,591 | |||||||||||||||||||||||||||||||||||
Proceeds from issuance of debt | $ 2,000,000 | ||||||||||||||||||||||||||||||||||||
Amount of cash proceeds waived | $ 750,000 | ||||||||||||||||||||||||||||||||||||
Febraury 2021 Convertible Note [Member] | Labrys Fund LP [Member] | |||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||||||||||||||||||||
Beneficial ownership percentage | 4.99% | ||||||||||||||||||||||||||||||||||||
Secured Demand Promissory Note [Member] | |||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||||||||||||||||||||
Accrued interest rate of debt instrument | 125% | ||||||||||||||||||||||||||||||||||||
Event of default description | Upon the occurrence of a March 2021 FirstFire Event of Default, additional interest will accrue from the date of the March 2021 FirstFire Event of Default at the rate equal to the lower of 15% per annum or the highest rate permitted by law. | Upon the occurrence of an Labrys Event of Default, additional interest will accrue from the date of the Labrys Event of Default at the rate equal to the lower of 15% per annum or the highest rate permitted by law. | |||||||||||||||||||||||||||||||||||
Convertible Promissory Note [Member] | |||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||||||||||||||||||||
Interest Expense, Debt | $ 287,330 | ||||||||||||||||||||||||||||||||||||
GS Note [Member] | GS Capital Partners, LLC [Member] | |||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||||||||||||||||||||
Debt instrument unamortized discount | $ 333,333 | ||||||||||||||||||||||||||||||||||||
Jefferson Note [Member] | Jefferson Street Capital, LLC [Member] | |||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||||||||||||||||||||
Debt instrument unamortized discount | $ 333,333 | ||||||||||||||||||||||||||||||||||||
Unaccreted debt discount | 159,452 | ||||||||||||||||||||||||||||||||||||
Ionic Note [Member] | Ionic Ventures, LLC [Member] | |||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||||||||||||||||||||
Share price per share | $ / shares | $ 0.075 | $ 0.13 | $ 2.61 | ||||||||||||||||||||||||||||||||||
Unaccreted debt discount | 1,459 | ||||||||||||||||||||||||||||||||||||
Carrying value of Note | 771,322 | ||||||||||||||||||||||||||||||||||||
FirstFire Note [Member] | FirstFire Global Oppurtunities Fund, LLC [Member] | |||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||||||||||||||||||||
Debt instrument unamortized discount | $ 110,000 | $ 110,000 | |||||||||||||||||||||||||||||||||||
Jefferson Note OID [Member] | |||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||||||||||||||||||||
Debt instrument unamortized discount | $ 6,461 | $ 82,500 | |||||||||||||||||||||||||||||||||||
FirstFire OID Note [Member] | |||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||||||||||||||||||||
Debt instrument unamortized discount | 6,461 | ||||||||||||||||||||||||||||||||||||
GS OID Note [Member] | |||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||||||||||||||||||||
Debt instrument unamortized discount | $ 6,461 | ||||||||||||||||||||||||||||||||||||
Secured Promissory Note One [Member] | |||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||||||||||||||||||||
Debt instrument face amount | 42,268 | ||||||||||||||||||||||||||||||||||||
Payments for debt | 1,077 | ||||||||||||||||||||||||||||||||||||
Debt instrument unamortized discount | $ 12,500 | 82,464 | $ 97,017 | ||||||||||||||||||||||||||||||||||
Interest expense | 8,007 | ||||||||||||||||||||||||||||||||||||
Debt instrument periodic payment principal | 4,500 | ||||||||||||||||||||||||||||||||||||
Accrued interest payable | 2,079 | ||||||||||||||||||||||||||||||||||||
Accretion expense | 4,851 | ||||||||||||||||||||||||||||||||||||
Secured Promissory Note Two [Member] | Simplicity One Brasil Ltd [Member] | |||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||||||||||||||||||||
Payments for debt | 646 | ||||||||||||||||||||||||||||||||||||
Debt instrument unamortized discount | 49,478 | ||||||||||||||||||||||||||||||||||||
Accrued interest payable | 1,252 | ||||||||||||||||||||||||||||||||||||
Interest Receivable | 4,809 | ||||||||||||||||||||||||||||||||||||
Long-Term Debt | 25,640 | ||||||||||||||||||||||||||||||||||||
Note Payable Two [Member] | Simplicity One Brasil Ltd [Member] | |||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||||||||||||||||||||
Accretion expense | 2,911 | ||||||||||||||||||||||||||||||||||||
Note Payable [Member] | |||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||||||||||||||||||||
Interest expense | 339 | ||||||||||||||||||||||||||||||||||||
Note Payable [Member] | Simplicity One Brasil Ltd [Member] | |||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||||||||||||||||||||
Interest rate | 5% | ||||||||||||||||||||||||||||||||||||
Debt instrument face amount | $ 247,818 | ||||||||||||||||||||||||||||||||||||
Paycheck Protection Program [Member] | |||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||||||||||||||||||||
Proceeds from loans | $ 82,235 | ||||||||||||||||||||||||||||||||||||
Repayment of loans | 41,735 | $ 40,500 | |||||||||||||||||||||||||||||||||||
Accredited Investor [Member] | Secured Promissory Note One [Member] | |||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||||||||||||||||||||
Interest rate | 10% | ||||||||||||||||||||||||||||||||||||
Debt instrument face amount | $ 262,500 | $ 84,517 | |||||||||||||||||||||||||||||||||||
Warrant to purchase common stock | shares | 30,000 | ||||||||||||||||||||||||||||||||||||
Warrant exercise price | $ / shares | $ 10.73 | ||||||||||||||||||||||||||||||||||||
Proceeds from notes payable | $ 250,000 | ||||||||||||||||||||||||||||||||||||
Debt instrument payment terms | 60 | ||||||||||||||||||||||||||||||||||||
Loan and Accrued interest | $ 5,577 | ||||||||||||||||||||||||||||||||||||
Accredited Investor [Member] | Secured Promissory Note Two [Member] | |||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||||||||||||||||||||
Interest rate | 10% | ||||||||||||||||||||||||||||||||||||
Debt instrument face amount | $ 157,500 | ||||||||||||||||||||||||||||||||||||
Debt instrument unamortized discount | $ 58,210 | ||||||||||||||||||||||||||||||||||||
Debt instrument periodic payment principal | 2,421 | ||||||||||||||||||||||||||||||||||||
Warrant to purchase common stock | shares | 18,000 | ||||||||||||||||||||||||||||||||||||
Warrant exercise price | $ / shares | $ 10.73 | ||||||||||||||||||||||||||||||||||||
Fair value adjustment of warrants | $ 50,710 | ||||||||||||||||||||||||||||||||||||
Proceeds from notes payable | $ 150,000 | ||||||||||||||||||||||||||||||||||||
Debt instrument payment terms | 60 | ||||||||||||||||||||||||||||||||||||
Loan and Accrued interest | $ 3,346 | ||||||||||||||||||||||||||||||||||||
Accredited Investor [Member] | Secured Promissory Note Two OID [Member] | |||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||||||||||||||||||||
Debt instrument unamortized discount | $ 7,500 | ||||||||||||||||||||||||||||||||||||
Securities Purchase Agreement [Member] | Jefferson Street Capital, LLC [Member] | |||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||||||||||||||||||||
Debt instrument unamortized discount | 46,941 | ||||||||||||||||||||||||||||||||||||
Interest expense | 47,941 | ||||||||||||||||||||||||||||||||||||
Securities Purchase Agreement [Member] | Jefferson Street Capital, LLC [Member] | Maximum [Member] | |||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||||||||||||||||||||
Conversion price | $ / shares | 1 | ||||||||||||||||||||||||||||||||||||
Securities Purchase Agreement [Member] | Jefferson Street Capital, LLC [Member] | Minimum [Member] | |||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||||||||||||||||||||
Conversion price | $ / shares | 0.10 | ||||||||||||||||||||||||||||||||||||
Securities Purchase Agreement [Member] | Lucas Ventures LLC [Member] | |||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||||||||||||||||||||
Interest rate | 12% | 12% | |||||||||||||||||||||||||||||||||||
Maturity date | Aug. 31, 2023 | ||||||||||||||||||||||||||||||||||||
Debt instrument face amount | $ 200,000 | $ 200,000 | |||||||||||||||||||||||||||||||||||
Number of share issued | shares | 3,749 | ||||||||||||||||||||||||||||||||||||
Debt instrument unamortized discount | $ 200,000 | $ 200,000 | |||||||||||||||||||||||||||||||||||
Proceeds from issuance of debt | $ 180,000 | ||||||||||||||||||||||||||||||||||||
Conversion price | $ / shares | $ 0.1150 | $ 0.1150 | |||||||||||||||||||||||||||||||||||
Accrued interest rate of debt instrument | 125% | ||||||||||||||||||||||||||||||||||||
Interest expense | 25,205 | ||||||||||||||||||||||||||||||||||||
Fair value adjustment of warrants | $ 153,948 | ||||||||||||||||||||||||||||||||||||
Warrant term | 3 years | 3 years | |||||||||||||||||||||||||||||||||||
Fair value of commitment shares | $ 3,903 | ||||||||||||||||||||||||||||||||||||
Unaccreted debt discount | 100,001 | ||||||||||||||||||||||||||||||||||||
Debt instrument expected conversion waived rate | 9.99% | 9.99% | |||||||||||||||||||||||||||||||||||
Loan origination fees | $ 9,000 | $ 9,000 | |||||||||||||||||||||||||||||||||||
Carrying value of Note | 99,999 | ||||||||||||||||||||||||||||||||||||
Securities Purchase Agreement [Member] | Lucas Ventures LLC [Member] | Warrant [Member] | |||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||||||||||||||||||||
Warrant to purchase common stock | shares | 187,400 | 187,400 | |||||||||||||||||||||||||||||||||||
Warrant exercise price | $ / shares | $ 10.22 | $ 10.22 | |||||||||||||||||||||||||||||||||||
Securities Purchase Agreement [Member] | Lucas Ventures LLC [Member] | Maximum [Member] | |||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||||||||||||||||||||
Conversion price | $ / shares | $ 11.50 | 1 | |||||||||||||||||||||||||||||||||||
Securities Purchase Agreement [Member] | Lucas Ventures LLC [Member] | Minimum [Member] | |||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||||||||||||||||||||
Conversion price | $ / shares | 1 | 0.10 | |||||||||||||||||||||||||||||||||||
Securities Purchase Agreement [Member] | LGH Investments LLC [Member] | |||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||||||||||||||||||||
Interest rate | 12% | 12% | |||||||||||||||||||||||||||||||||||
Maturity date | Aug. 31, 2023 | ||||||||||||||||||||||||||||||||||||
Debt instrument face amount | $ 200,000 | $ 200,000 | |||||||||||||||||||||||||||||||||||
Debt instrument unamortized discount | 26,500 | $ 26,500 | |||||||||||||||||||||||||||||||||||
Proceeds from issuance of debt | $ 180,000 | ||||||||||||||||||||||||||||||||||||
Conversion price | $ / shares | $ 0.1150 | $ 0.1150 | |||||||||||||||||||||||||||||||||||
Accrued interest rate of debt instrument | 125% | ||||||||||||||||||||||||||||||||||||
Interest expense | 3,340 | ||||||||||||||||||||||||||||||||||||
Unaccreted debt discount | 13,250 | ||||||||||||||||||||||||||||||||||||
Debt instrument expected conversion waived rate | 9.99% | 9.99% | |||||||||||||||||||||||||||||||||||
Loan origination fees | $ 6,500 | $ 6,500 | |||||||||||||||||||||||||||||||||||
Carrying value of Note | 186,750 | ||||||||||||||||||||||||||||||||||||
Securities Purchase Agreement [Member] | LGH Investments LLC [Member] | Maximum [Member] | |||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||||||||||||||||||||
Conversion price | $ / shares | 11.50 | ||||||||||||||||||||||||||||||||||||
Securities Purchase Agreement [Member] | LGH Investments LLC [Member] | Minimum [Member] | |||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||||||||||||||||||||
Conversion price | $ / shares | $ 1 | ||||||||||||||||||||||||||||||||||||
Securities Purchase Agreement [Member] | Ionic Ventures, LLC [Member] | |||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||||||||||||||||||||
Conversion price | $ / shares | $ 0.10 | $ 0.10 | $ 1 | ||||||||||||||||||||||||||||||||||
Interest expense | 41,250 | ||||||||||||||||||||||||||||||||||||
Securities Purchase Agreement [Member] | Ionic Ventures, LLC [Member] | Maximum [Member] | |||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||||||||||||||||||||
Conversion price | $ / shares | 1 | 11.50 | |||||||||||||||||||||||||||||||||||
Outstanding principal balance | $ 15,000 | $ 6,776 | $ 87,800 | ||||||||||||||||||||||||||||||||||
Securities Purchase Agreement [Member] | Ionic Ventures, LLC [Member] | Minimum [Member] | |||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||||||||||||||||||||
Conversion price | $ / shares | 0.10 | $ 1 | |||||||||||||||||||||||||||||||||||
Securities Purchase Agreement [Member] | Lucas Ventures LLC [Member] | |||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||||||||||||||||||||
Beneficial ownership percentage | 4.99% | 4.99% | |||||||||||||||||||||||||||||||||||
Securities Purchase Agreement [Member] | LGH Investments LLC [Member] | |||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||||||||||||||||||||
Beneficial ownership percentage | 4.99% | 4.99% | |||||||||||||||||||||||||||||||||||
Securities Purchase Agreement [Member] | GS Note [Member] | GS Capital Partners, LLC [Member] | |||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||||||||||||||||||||
Interest rate | 12% | 12% | 12% | ||||||||||||||||||||||||||||||||||
Maturity date | Sep. 21, 2022 | Jun. 10, 2023 | |||||||||||||||||||||||||||||||||||
Debt instrument face amount | $ 82,500 | $ 82,500 | $ 333,333 | ||||||||||||||||||||||||||||||||||
Number of share issued | shares | 703 | 3,125 | |||||||||||||||||||||||||||||||||||
Debt instrument unamortized discount | $ 7,500 | $ 7,500 | $ 33,333 | 56,212 | |||||||||||||||||||||||||||||||||
Proceeds from issuance of debt | $ 300,000 | ||||||||||||||||||||||||||||||||||||
Conversion price | $ / shares | $ 0.10 | $ 1 | $ 11.50 | $ 11.50 | $ 1 | ||||||||||||||||||||||||||||||||
Accrued interest rate of debt instrument | 125% | ||||||||||||||||||||||||||||||||||||
Interest expense | 34,703 | ||||||||||||||||||||||||||||||||||||
Warrant to purchase common stock | shares | 37,500 | 37,500 | 156,250 | ||||||||||||||||||||||||||||||||||
Warrant exercise price | $ / shares | $ 1 | $ 1 | $ 10.73 | ||||||||||||||||||||||||||||||||||
Fair value adjustment of warrants | $ 240,138 | ||||||||||||||||||||||||||||||||||||
Outstanding principal balance | $ 53,000 | $ 50,333 | |||||||||||||||||||||||||||||||||||
Share price per share | $ / shares | $ 0.19 | $ 2.77 | |||||||||||||||||||||||||||||||||||
Losses on extinguishment of debt | $ 53,942 | $ 95,085 | |||||||||||||||||||||||||||||||||||
Debt instrument carrying value | 140,836 | ||||||||||||||||||||||||||||||||||||
Warrant term | 3 years | 3 years | 3 years | ||||||||||||||||||||||||||||||||||
Fair value of commitment shares | $ 5,963 | ||||||||||||||||||||||||||||||||||||
Beneficial conversion feature | $ 53,899 | ||||||||||||||||||||||||||||||||||||
Unaccreted debt discount | 89,164 | ||||||||||||||||||||||||||||||||||||
Debt instrument expected conversion waived rate | 9.99% | 9.99% | 9.99% | ||||||||||||||||||||||||||||||||||
Accrued interest payable | $ 6,935 | $ 3,389 | |||||||||||||||||||||||||||||||||||
Debt Conversion, Converted Instrument, Shares Issued | shares | 599,350 | 53,720 | |||||||||||||||||||||||||||||||||||
Securities Purchase Agreement [Member] | GS Note [Member] | GS Capital Securities [Member] | |||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||||||||||||||||||||
Interest rate | 12% | ||||||||||||||||||||||||||||||||||||
Maturity date | Sep. 14, 2022 | ||||||||||||||||||||||||||||||||||||
Debt instrument face amount | $ 27,500 | ||||||||||||||||||||||||||||||||||||
Number of share issued | shares | 935 | ||||||||||||||||||||||||||||||||||||
Debt instrument unamortized discount | $ 2,500 | 5,002 | |||||||||||||||||||||||||||||||||||
Proceeds from issuance of debt | $ 25,000 | ||||||||||||||||||||||||||||||||||||
Conversion price | $ / shares | $ 0.10 | ||||||||||||||||||||||||||||||||||||
Accrued interest rate of debt instrument | 125% | ||||||||||||||||||||||||||||||||||||
Interest expense | 5,552 | ||||||||||||||||||||||||||||||||||||
Warrant exercise price | $ / shares | $ 1 | ||||||||||||||||||||||||||||||||||||
Warrant term | 3 years | ||||||||||||||||||||||||||||||||||||
Fair value of commitment shares | $ 136 | ||||||||||||||||||||||||||||||||||||
Unaccreted debt discount | 1,459 | ||||||||||||||||||||||||||||||||||||
Debt instrument expected conversion waived rate | 9.99% | ||||||||||||||||||||||||||||||||||||
Accrued interest payable | 550 | ||||||||||||||||||||||||||||||||||||
Carrying value of Note | 26,041 | ||||||||||||||||||||||||||||||||||||
Number of warrant purchase | shares | 50,000 | ||||||||||||||||||||||||||||||||||||
Securities Purchase Agreement [Member] | GS Note [Member] | GS Capital Partners, LLC [Member] | |||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||||||||||||||||||||
Beneficial ownership percentage | 4.99% | 4.99% | 4.99% | ||||||||||||||||||||||||||||||||||
Securities Purchase Agreement [Member] | GS Note [Member] | GS Capital Securities [Member] | |||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||||||||||||||||||||
Beneficial ownership percentage | 4.99% | ||||||||||||||||||||||||||||||||||||
Securities Purchase Agreement [Member] | Jefferson Note [Member] | Jefferson Street Capital, LLC [Member] | |||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||||||||||||||||||||
Interest rate | 12% | 12% | 12% | ||||||||||||||||||||||||||||||||||
Maturity date | Sep. 14, 2022 | Aug. 23, 2023 | Oct. 01, 2022 | ||||||||||||||||||||||||||||||||||
Debt instrument face amount | $ 27,500 | $ 82,500 | $ 333,333 | ||||||||||||||||||||||||||||||||||
Number of share issued | shares | 935 | 703 | 3,125 | ||||||||||||||||||||||||||||||||||
Debt instrument unamortized discount | $ 33,333 | 5,002 | |||||||||||||||||||||||||||||||||||
Proceeds from issuance of debt | $ 25,000 | $ 75,000 | $ 300,000 | $ 75,000 | |||||||||||||||||||||||||||||||||
Conversion price | $ / shares | $ 0.10 | $ 1 | $ 11.50 | $ 0.10 | |||||||||||||||||||||||||||||||||
Accrued interest rate of debt instrument | 125% | 125% | 125% | ||||||||||||||||||||||||||||||||||
Interest expense | 5,552 | $ 685 | |||||||||||||||||||||||||||||||||||
Warrant to purchase common stock | shares | 156,250 | ||||||||||||||||||||||||||||||||||||
Warrant exercise price | $ / shares | $ 1 | $ 1 | $ 10.73 | ||||||||||||||||||||||||||||||||||
Fair value adjustment of warrants | $ 3,825 | $ 233,004 | $ 40,067 | ||||||||||||||||||||||||||||||||||
Outstanding principal balance | $ 10,000 | ||||||||||||||||||||||||||||||||||||
Share price per share | $ / shares | $ 0.075 | ||||||||||||||||||||||||||||||||||||
Losses on extinguishment of debt | $ 2,750 | ||||||||||||||||||||||||||||||||||||
Debt instrument carrying value | 163,882 | ||||||||||||||||||||||||||||||||||||
Warrant term | 3 years | 3 years | 3 years | ||||||||||||||||||||||||||||||||||
Fair value of commitment shares | $ 136 | $ 871 | $ 4,945 | ||||||||||||||||||||||||||||||||||
Beneficial conversion feature | $ 62,051 | $ 34,062 | |||||||||||||||||||||||||||||||||||
Unaccreted debt discount | 1,459 | 9,416 | |||||||||||||||||||||||||||||||||||
Debt instrument expected conversion waived rate | 9.99% | 9.99% | 9.99% | ||||||||||||||||||||||||||||||||||
Accrued interest payable | 550 | $ 1,000 | |||||||||||||||||||||||||||||||||||
Debt Conversion, Converted Instrument, Shares Issued | shares | 110,000 | ||||||||||||||||||||||||||||||||||||
Loan origination fees | $ 15,000 | 1,000 | |||||||||||||||||||||||||||||||||||
Carrying value of Note | 26,041 | 73,084 | |||||||||||||||||||||||||||||||||||
Number of warrant purchase | shares | 50,000 | 37,500 | |||||||||||||||||||||||||||||||||||
Securities Purchase Agreement [Member] | Jefferson Note [Member] | Jefferson Street Capital, LLC [Member] | |||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||||||||||||||||||||
Beneficial ownership percentage | 4.99% | 4.99% | 4.99% | ||||||||||||||||||||||||||||||||||
Securities Purchase Agreement [Member] | Lucas OID Note [Member] | Lucas Ventures LLC [Member] | |||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||||||||||||||||||||
Debt instrument unamortized discount | $ 20,000 | 20,000 | |||||||||||||||||||||||||||||||||||
Securities Purchase Agreement [Member] | LGHOID Note [Member] | LGH Investments LLC [Member] | |||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||||||||||||||||||||
Debt instrument unamortized discount | 20,000 | 20,000 | |||||||||||||||||||||||||||||||||||
Securities Purchase Agreement [Member] | Ionic Note [Member] | Ionic Ventures, LLC [Member] | |||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||||||||||||||||||||
Interest rate | 12% | ||||||||||||||||||||||||||||||||||||
Maturity date | Sep. 14, 2022 | ||||||||||||||||||||||||||||||||||||
Debt instrument face amount | $ 27,500 | ||||||||||||||||||||||||||||||||||||
Number of share issued | shares | 150,000 | 67,755 | 935 | 87,800 | |||||||||||||||||||||||||||||||||
Debt instrument unamortized discount | $ 2,500 | 5,002 | |||||||||||||||||||||||||||||||||||
Proceeds from issuance of debt | $ 25,000 | ||||||||||||||||||||||||||||||||||||
Conversion price | $ / shares | $ 0.10 | ||||||||||||||||||||||||||||||||||||
Accrued interest rate of debt instrument | 125% | ||||||||||||||||||||||||||||||||||||
Interest expense | 302,506 | ||||||||||||||||||||||||||||||||||||
Warrant exercise price | $ / shares | $ 1 | ||||||||||||||||||||||||||||||||||||
Fair value adjustment of warrants | $ 3,825 | ||||||||||||||||||||||||||||||||||||
Losses on extinguishment of debt | $ 4,500 | $ 2,033 | $ 141,358 | ||||||||||||||||||||||||||||||||||
Warrant term | 3 years | ||||||||||||||||||||||||||||||||||||
Unaccreted debt discount | 674,658 | ||||||||||||||||||||||||||||||||||||
Debt instrument expected conversion waived rate | 9.99% | ||||||||||||||||||||||||||||||||||||
Accrued interest payable | 550 | ||||||||||||||||||||||||||||||||||||
Carrying value of Note | 26,041 | ||||||||||||||||||||||||||||||||||||
Number of warrant purchase | shares | 50,000 | ||||||||||||||||||||||||||||||||||||
Securities Purchase Agreement [Member] | Ionic Note [Member] | Ionic Ventures, LLC [Member] | |||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||||||||||||||||||||
Beneficial ownership percentage | 4.99% | ||||||||||||||||||||||||||||||||||||
Securities Purchase Agreement [Member] | FirstFire Note [Member] | FirstFire Global Oppurtunities Fund, LLC [Member] | |||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||||||||||||||||||||
Interest rate | 12% | 12% | |||||||||||||||||||||||||||||||||||
Debt instrument unamortized discount | $ 10,000 | $ 10,000 | 55,000 | ||||||||||||||||||||||||||||||||||
Proceeds from issuance of debt | $ 100,000 | ||||||||||||||||||||||||||||||||||||
Conversion price | $ / shares | $ 1 | $ 1 | |||||||||||||||||||||||||||||||||||
Accrued interest rate of debt instrument | 125% | ||||||||||||||||||||||||||||||||||||
Fair value adjustment of warrants | $ 53,424 | ||||||||||||||||||||||||||||||||||||
Debt instrument carrying value | 97,446 | ||||||||||||||||||||||||||||||||||||
Warrant term | 3 years | 3 years | |||||||||||||||||||||||||||||||||||
Fair value of commitment shares | $ 1,158 | ||||||||||||||||||||||||||||||||||||
Beneficial conversion feature | $ 45,418 | ||||||||||||||||||||||||||||||||||||
Unaccreted debt discount | 12,554 | ||||||||||||||||||||||||||||||||||||
Debt instrument expected conversion waived rate | 9.99% | 9.99% | |||||||||||||||||||||||||||||||||||
Securities Purchase Agreement [Member] | FirstFire Note [Member] | FirstFire Global [Member] | |||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||||||||||||||||||||
Interest rate | 12% | ||||||||||||||||||||||||||||||||||||
Maturity date | Sep. 14, 2022 | ||||||||||||||||||||||||||||||||||||
Debt instrument face amount | $ 27,500 | ||||||||||||||||||||||||||||||||||||
Number of share issued | shares | 935 | ||||||||||||||||||||||||||||||||||||
Debt instrument unamortized discount | 5,002 | ||||||||||||||||||||||||||||||||||||
Proceeds from issuance of debt | $ 25,000 | ||||||||||||||||||||||||||||||||||||
Conversion price | $ / shares | $ 0.10 | ||||||||||||||||||||||||||||||||||||
Accrued interest rate of debt instrument | 125% | ||||||||||||||||||||||||||||||||||||
Interest expense | 5,552 | ||||||||||||||||||||||||||||||||||||
Warrant exercise price | $ / shares | $ 1 | ||||||||||||||||||||||||||||||||||||
Fair value adjustment of warrants | $ 3,825 | ||||||||||||||||||||||||||||||||||||
Warrant term | 3 years | ||||||||||||||||||||||||||||||||||||
Fair value of commitment shares | $ 136 | ||||||||||||||||||||||||||||||||||||
Unaccreted debt discount | 1,459 | ||||||||||||||||||||||||||||||||||||
Debt instrument expected conversion waived rate | 9.99% | ||||||||||||||||||||||||||||||||||||
Accrued interest payable | 550 | ||||||||||||||||||||||||||||||||||||
Carrying value of Note | 26,041 | ||||||||||||||||||||||||||||||||||||
Number of warrant purchase | shares | 50,000 | ||||||||||||||||||||||||||||||||||||
Securities Purchase Agreement [Member] | FirstFire Note [Member] | FirstFire Global [Member] | |||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||||||||||||||||||||
Beneficial ownership percentage | 4.99% | ||||||||||||||||||||||||||||||||||||
Securities Purchase Agreement [Member] | Jefferson OID Note [Member] | Jefferson Street Capital, LLC [Member] | |||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||||||||||||||||||||
Debt instrument unamortized discount | $ 2,500 | $ 7,500 | |||||||||||||||||||||||||||||||||||
Securities Purchase Agreement [Member] | FirstFire OID Note [Member] | FirstFire Global [Member] | |||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||||||||||||||||||||
Debt instrument unamortized discount | $ 2,500 | ||||||||||||||||||||||||||||||||||||
Securities Purchase Agreement [Member] | Accredited Investor [Member] | Febraury 2021 Convertible Note [Member] | |||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||||||||||||||||||||
Interest rate | 12% | ||||||||||||||||||||||||||||||||||||
Maturity date | Feb. 19, 2022 | ||||||||||||||||||||||||||||||||||||
Debt instrument face amount | $ 1,650,000 | ||||||||||||||||||||||||||||||||||||
Number of share issued | shares | 10,000 | ||||||||||||||||||||||||||||||||||||
Payments for debt | $ 1,650,000 | ||||||||||||||||||||||||||||||||||||
Debt instrument unamortized discount | 165,000 | ||||||||||||||||||||||||||||||||||||
Proceeds from issuance of debt | $ 1,485,000 | ||||||||||||||||||||||||||||||||||||
Conversion price | $ / shares | $ 11.50 | ||||||||||||||||||||||||||||||||||||
Securities Purchase Agreement [Member] | Accredited Investor [Member] | Febraury 2021 Convertible Note [Member] | Labrys Fund LP [Member] | |||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||||||||||||||||||||
Beneficial ownership percentage | 4.99% | ||||||||||||||||||||||||||||||||||||
June FirstFire SPA [Member] | FirstFire Global Oppurtunities Fund, LLC [Member] | June FirstFire Warrant [Member] | |||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||||||||||||||||||||
Warrant to purchase common stock | shares | 593,750 | ||||||||||||||||||||||||||||||||||||
Warrant exercise price | $ / shares | $ 1 | $ 1 | $ 10.73 | ||||||||||||||||||||||||||||||||||
Warrant term | 3 years | ||||||||||||||||||||||||||||||||||||
June FirstFire SPA [Member] | June FirstFire Promissory Note [Member] | |||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||||||||||||||||||||
Debt instrument unamortized discount | $ 1,266,667 | ||||||||||||||||||||||||||||||||||||
Payment for notes exchange | $ 175,000 | ||||||||||||||||||||||||||||||||||||
June FirstFire SPA [Member] | June FirstFire Promissory Note [Member] | Labrys Fund LP [Member] | |||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||||||||||||||||||||
Interest expense | 33,671 | ||||||||||||||||||||||||||||||||||||
June FirstFire SPA [Member] | June FirstFire Promissory Note [Member] | FirstFire Global Oppurtunities Fund, LLC [Member] | |||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||||||||||||||||||||
Interest rate | 12% | ||||||||||||||||||||||||||||||||||||
Maturity date | Sep. 21, 2022 | Jun. 10, 2023 | |||||||||||||||||||||||||||||||||||
Debt instrument face amount | $ 1,266,666 | ||||||||||||||||||||||||||||||||||||
Number of share issued | shares | 11,875 | ||||||||||||||||||||||||||||||||||||
Debt instrument unamortized discount | $ 126,666 | ||||||||||||||||||||||||||||||||||||
Proceeds from issuance of debt | $ 1,140,000 | ||||||||||||||||||||||||||||||||||||
Accrued interest rate of debt instrument | 125% | ||||||||||||||||||||||||||||||||||||
Interest expense | 137,580 | $ 140,548 | |||||||||||||||||||||||||||||||||||
Fair value adjustment of warrants | $ 942,200 | ||||||||||||||||||||||||||||||||||||
Debt instrument carrying value | 668,459 | ||||||||||||||||||||||||||||||||||||
Fair value of commitment shares | 22,949 | ||||||||||||||||||||||||||||||||||||
Beneficial conversion feature | $ 174,851 | ||||||||||||||||||||||||||||||||||||
Unaccreted debt discount | 423,208 | ||||||||||||||||||||||||||||||||||||
June FirstFire SPA [Member] | June FirstFire Promissory Note [Member] | FirstFire Global Oppurtunities Fund, LLC [Member] | |||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||||||||||||||||||||
Beneficial ownership percentage | 4.99% | ||||||||||||||||||||||||||||||||||||
Conversion price | $ / shares | $ 11.50 | ||||||||||||||||||||||||||||||||||||
Percentage of limitation on conversion | 9.99% | ||||||||||||||||||||||||||||||||||||
FirstFire SPA [Member] | FirstFire Global Oppurtunities Fund, LLC [Member] | |||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||||||||||||||||||||
Conversion price | $ / shares | $ 11.50 | ||||||||||||||||||||||||||||||||||||
FirstFire SPA [Member] | Febraury 2021 Convertible Note [Member] | March 2021 Convertible Note [Member] | |||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||||||||||||||||||||
Number of share issued | shares | 3,394 | ||||||||||||||||||||||||||||||||||||
FirstFire SPA [Member] | March 2021 Convertible Note [Member] | FirstFire Global Oppurtunities Fund, LLC [Member] | |||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||||||||||||||||||||
Interest rate | 12% | ||||||||||||||||||||||||||||||||||||
Maturity date | Mar. 10, 2022 | ||||||||||||||||||||||||||||||||||||
Debt instrument face amount | $ 560,000 | ||||||||||||||||||||||||||||||||||||
Payments for debt | 365,000 | ||||||||||||||||||||||||||||||||||||
Debt instrument unamortized discount | 56,000 | ||||||||||||||||||||||||||||||||||||
Proceeds from issuance of debt | 130,606 | ||||||||||||||||||||||||||||||||||||
Interest expense | 14,984 | ||||||||||||||||||||||||||||||||||||
Origination fees | 8,394 | ||||||||||||||||||||||||||||||||||||
Partial repayment of long term debt | $ 123,200 | ||||||||||||||||||||||||||||||||||||
Fair value adjustment of warrants | 248,547 | ||||||||||||||||||||||||||||||||||||
Interest expense charge | 248,547 | ||||||||||||||||||||||||||||||||||||
Amortization of debt discount | 65,533 | ||||||||||||||||||||||||||||||||||||
Debt instrument carrying value | $ 500,500 | ||||||||||||||||||||||||||||||||||||
FirstFire SPA [Member] | March 2021 Convertible Note [Member] | FirstFire Global Oppurtunities Fund, LLC [Member] | |||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||||||||||||||||||||
Beneficial ownership percentage | 4.99% | ||||||||||||||||||||||||||||||||||||
August 2021 Convertible Note [Member] | Lucas Ventures LLC [Member] | |||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||||||||||||||||||||
Beneficial conversion feature | $ 22,149 | ||||||||||||||||||||||||||||||||||||
September 2021 Convertible Note [Member] | Ionic Note [Member] | Ionic Ventures, LLC [Member] | |||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||||||||||||||||||||
Interest rate | 12% | ||||||||||||||||||||||||||||||||||||
Maturity date | Sep. 28, 2023 | ||||||||||||||||||||||||||||||||||||
Debt instrument face amount | $ 1,555,556 | ||||||||||||||||||||||||||||||||||||
Number of share issued | shares | 14,584 | ||||||||||||||||||||||||||||||||||||
Debt instrument unamortized discount | $ 1,555,556 | ||||||||||||||||||||||||||||||||||||
Proceeds from issuance of debt | $ 1,400,000 | ||||||||||||||||||||||||||||||||||||
Conversion price | $ / shares | $ 11.50 | ||||||||||||||||||||||||||||||||||||
Accrued interest rate of debt instrument | 125% | ||||||||||||||||||||||||||||||||||||
Warrant to purchase common stock | shares | 729,167 | ||||||||||||||||||||||||||||||||||||
Warrant exercise price | $ / shares | $ 10.73 | ||||||||||||||||||||||||||||||||||||
Fair value adjustment of warrants | $ 1,037,976 | ||||||||||||||||||||||||||||||||||||
Warrant term | 3 years | ||||||||||||||||||||||||||||||||||||
Fair value of commitment shares | $ 26,721 | ||||||||||||||||||||||||||||||||||||
Beneficial conversion feature | $ 335,303 | ||||||||||||||||||||||||||||||||||||
Debt instrument expected conversion waived rate | 9.99% | ||||||||||||||||||||||||||||||||||||
Loan origination fees | $ 98,000 | ||||||||||||||||||||||||||||||||||||
September 2021 Convertible Note [Member] | Ionic Note [Member] | Ionic Ventures, LLC [Member] | |||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||||||||||||||||||||
Beneficial ownership percentage | 4.99% | ||||||||||||||||||||||||||||||||||||
August 2021 Ionic OID [Member] | Ionic Note [Member] | Ionic Ventures, LLC [Member] | |||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||||||||||||||||||||
Debt instrument unamortized discount | $ 155,556 | ||||||||||||||||||||||||||||||||||||
FirstFire Note [Member] | Securities Purchase Agreement [Member] | FirstFire Global Oppurtunities Fund, LLC [Member] | |||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||||||||||||||||||||
Interest rate | 12% | 12% | |||||||||||||||||||||||||||||||||||
Debt instrument face amount | $ 110,000 | $ 110,000 | |||||||||||||||||||||||||||||||||||
FirstFire Note [Member] | Securities Purchase Agreement [Member] | FirstFire Global Oppurtunities Fund, LLC [Member] | |||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||||||||||||||||||||
Beneficial ownership percentage | 4.99% | 4.99% | |||||||||||||||||||||||||||||||||||
June FirstFire Note [Member] | Securities Purchase Agreement [Member] | FirstFire Global Oppurtunities Fund, LLC [Member] | |||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||||||||||||||||||||
Number of share issued | shares | 935 | ||||||||||||||||||||||||||||||||||||
March 2022 Convertible Note [Member] | GS Capital Partners, LLC [Member] | |||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||||||||||||||||||||
Debt instrument unamortized discount | $ 82,500 | $ 82,500 | |||||||||||||||||||||||||||||||||||
Accrued interest rate of debt instrument | 125% | ||||||||||||||||||||||||||||||||||||
March 2022 Convertible Note [Member] | GS Note [Member] | GS Capital Partners, LLC [Member] | |||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||||||||||||||||||||
Debt instrument unamortized discount | 41,250 | ||||||||||||||||||||||||||||||||||||
Proceeds from issuance of debt | $ 75,000 | ||||||||||||||||||||||||||||||||||||
Fair value adjustment of warrants | 40,067 | ||||||||||||||||||||||||||||||||||||
Fair value of commitment shares | 871 | ||||||||||||||||||||||||||||||||||||
Beneficial conversion feature | $ 34,062 | ||||||||||||||||||||||||||||||||||||
Unaccreted debt discount | 9,416 | ||||||||||||||||||||||||||||||||||||
Carrying value of Note | 73,084 | ||||||||||||||||||||||||||||||||||||
March 2022 Convertible Note [Member] | Ionic Note [Member] | Ionic Ventures, LLC [Member] | |||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||||||||||||||||||||
Interest rate | 12% | 12% | |||||||||||||||||||||||||||||||||||
Maturity date | Sep. 21, 2022 | ||||||||||||||||||||||||||||||||||||
Debt instrument face amount | $ 110,000 | $ 110,000 | |||||||||||||||||||||||||||||||||||
Number of share issued | shares | 935 | ||||||||||||||||||||||||||||||||||||
Debt instrument unamortized discount | $ 110,000 | $ 110,000 | |||||||||||||||||||||||||||||||||||
Proceeds from issuance of debt | $ 100,000 | ||||||||||||||||||||||||||||||||||||
Conversion price | $ / shares | $ 1 | $ 1 | |||||||||||||||||||||||||||||||||||
Accrued interest rate of debt instrument | 125% | ||||||||||||||||||||||||||||||||||||
Interest expense | 55,000 | ||||||||||||||||||||||||||||||||||||
Warrant to purchase common stock | shares | 50,000 | 50,000 | |||||||||||||||||||||||||||||||||||
Fair value adjustment of warrants | $ 53,424 | ||||||||||||||||||||||||||||||||||||
Warrant term | 3 years | 3 years | |||||||||||||||||||||||||||||||||||
Fair value of commitment shares | $ 1,158 | ||||||||||||||||||||||||||||||||||||
Beneficial conversion feature | $ 45,418 | ||||||||||||||||||||||||||||||||||||
Unaccreted debt discount | 12,554 | ||||||||||||||||||||||||||||||||||||
Debt instrument expected conversion waived rate | 9.99% | 9.99% | |||||||||||||||||||||||||||||||||||
Carrying value of Note | $ 97,446 | ||||||||||||||||||||||||||||||||||||
March 2022 Convertible Note [Member] | Ionic Note [Member] | Ionic Ventures, LLC [Member] | Maximum [Member] | |||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||||||||||||||||||||
Conversion price | $ / shares | 1 | ||||||||||||||||||||||||||||||||||||
March 2022 Convertible Note [Member] | Ionic Note [Member] | Ionic Ventures, LLC [Member] | Minimum [Member] | |||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||||||||||||||||||||
Conversion price | $ / shares | $ 0.10 | ||||||||||||||||||||||||||||||||||||
March 2022 Convertible Note [Member] | Ionic Note [Member] | Ionic Ventures, LLC [Member] | |||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||||||||||||||||||||
Beneficial ownership percentage | 4.99% | 4.99% | |||||||||||||||||||||||||||||||||||
March 2022 Convertible Note [Member] | FirstFire Note [Member] | Firstfire Global Opportunities Fund LLC [Member] | |||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||||||||||||||||||||
Warrant to purchase common stock | shares | 50,000 | 50,000 | |||||||||||||||||||||||||||||||||||
March 2021 Convertible Note [Member] | Ionic Note [Member] | Ionic Ventures, LLC [Member] | |||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||||||||||||||||||||
Warrant exercise price | $ / shares | $ 1 | $ 1 | |||||||||||||||||||||||||||||||||||
March 2022 Ionic OID [Member] | Ionic Note [Member] | Ionic Ventures, LLC [Member] | |||||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | |||||||||||||||||||||||||||||||||||||
Debt instrument unamortized discount | $ 10,000 | $ 10,000 |
SCHEDULE OF ISSUED AND OUTSTAND
SCHEDULE OF ISSUED AND OUTSTANDING WARRANTS TO PURCHASE (Details) - $ / shares | 3 Months Ended | |
Aug. 31, 2022 | May 31, 2022 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Number of warrants outstanding | 3,597,023 | |
Warrant One [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Issuance date | Nov. 20, 2018 | |
Number of warrants outstanding | 682,688 | |
Vesting date | Nov. 20, 2018 | |
Termination date | Nov. 20, 2023 | |
Exercise price | $ 92 | |
Warrant Two [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Issuance date | May 31, 2019 | |
Number of warrants outstanding | 120,313 | |
Vesting date | May 31, 2019 | |
Termination date | May 31, 2024 | |
Exercise price | $ 32 | |
Warrant Three [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Issuance date | Jun. 01, 2020 | |
Number of warrants outstanding | 3,125 | |
Vesting date | Jun. 01, 2020 | |
Termination date | Jun. 01, 2025 | |
Exercise price | $ 32 | |
Warrant Four [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Issuance date | Jun. 10, 2021 | |
Number of warrants outstanding | 750,000 | |
Vesting date | Jun. 10, 2021 | |
Termination date | Jun. 10, 2024 | |
Exercise price | $ 0.10 | |
Warrant Five [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Issuance date | Jun. 18, 2021 | |
Number of warrants outstanding | 100,000 | |
Vesting date | Jun. 18, 2021 | |
Termination date | Jun. 10, 2024 | |
Exercise price | $ 20 | |
Warrant Six [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Issuance date | Aug. 04, 2021 | |
Number of warrants outstanding | 365,000 | |
Vesting date | Aug. 04, 2021 | |
Termination date | Oct. 12, 2024 | |
Exercise price | $ 13 | |
Warrant Seven [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Issuance date | Aug. 23, 2021 | |
Number of warrants outstanding | 156,250 | |
Vesting date | Aug. 23, 2021 | |
Termination date | Aug. 23, 2024 | |
Exercise price | $ 0.10 | |
Warrant Eight [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Issuance date | Aug. 31, 2021 | |
Number of warrants outstanding | 187,480 | |
Vesting date | Aug. 31, 2021 | |
Termination date | Aug. 31, 2024 | |
Exercise price | $ 0.10 | |
Warrant Nine [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Issuance date | Sep. 17, 2021 | |
Number of warrants outstanding | 40,000 | |
Vesting date | Sep. 17, 2021 | |
Termination date | Sep. 17, 2024 | |
Exercise price | $ 0.10 | |
Warrant Ten [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Issuance date | Sep. 28, 2021 | |
Number of warrants outstanding | 729,167 | |
Vesting date | Sep. 28, 2021 | |
Termination date | Sep. 28, 2024 | |
Exercise price | $ 0.10 | |
Warrant Eleven [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Issuance date | Oct. 01, 2021 | |
Number of warrants outstanding | 40,000 | |
Vesting date | Oct. 01, 2021 | |
Termination date | Oct. 01, 2024 | |
Exercise price | $ 0.10 | |
Warrant Twelve [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Issuance date | Nov. 18, 2021 | |
Number of warrants outstanding | 48,000 | |
Vesting date | Nov. 18, 2021 | |
Termination date | Nov. 18, 2024 | |
Exercise price | $ 0.10 | |
Warrant Thirteen [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Issuance date | Mar. 21, 2022 | |
Number of warrants outstanding | 137,500 | |
Vesting date | Mar. 21, 2022 | |
Termination date | Mar. 21, 2025 | |
Exercise price | $ 0.10 | |
Warrant Fourteen [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Issuance date | Apr. 01, 2022 | |
Number of warrants outstanding | 37,500 | |
Vesting date | Apr. 01, 2022 | |
Termination date | Apr. 01, 2025 | |
Exercise price | $ 0.10 | |
Warrant Fifteen [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Issuance date | Jul. 14, 2022 | |
Number of warrants outstanding | 200,000 | |
Vesting date | Jul. 14, 2022 | |
Termination date | Jul. 14, 2025 | |
Exercise price | $ 1 |
SCHEDULE OF OUTSTANDING STOCK W
SCHEDULE OF OUTSTANDING STOCK WARRANTS (Details) | 3 Months Ended |
Aug. 31, 2022 $ / shares shares | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |
Number of shares granted | |
Warrant [Member] | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |
Number of Warrants, Outstanding, Beginning balance | 462,500 |
Average Exercise Price, Outstanding, Beginning balance | $ / shares | $ 2.77 |
Weighted average Remaining contractual life granted | 2 years 10 months 24 days |
Number of shares granted | |
Share based compensation exercise price granted | $ / shares | |
Number of shares forfeited | (72,500) |
Weighted average exercise price forfeited | $ / shares | $ 2.77 |
Weighted average Remaining contractual life Forfeited | 2 years 8 months 12 days |
Number of Warrants, Outstanding, Ending balance | 390,000 |
Average Exercise Price, Outstanding, Ending balance | $ / shares | $ 2.77 |
Weighted average Remaining contractual life ending balance | 2 years 8 months 12 days |
Number of shares exercisable | 320,000 |
Weighted average exercisable price | $ / shares | $ 2.77 |
Weighted average Remaining contractual life exercisable | 2 years 8 months 12 days |
STOCKHOLDERS_ EQUITY (Details N
STOCKHOLDERS’ EQUITY (Details Narrative) - USD ($) | 1 Months Ended | 3 Months Ended | 6 Months Ended | ||||||||||||||||
Aug. 30, 2022 | Aug. 29, 2022 | Aug. 25, 2022 | Aug. 05, 2022 | Jul. 29, 2022 | Jul. 28, 2022 | Jul. 18, 2022 | Jun. 02, 2022 | Jun. 25, 2021 | Jun. 30, 2022 | Aug. 31, 2022 | Aug. 31, 2021 | Jun. 30, 2022 | Aug. 23, 2022 | Aug. 04, 2022 | Jul. 27, 2022 | Jun. 01, 2022 | May 31, 2022 | Jun. 24, 2021 | |
Class of Stock [Line Items] | |||||||||||||||||||
Preferred stock, authorized | 1,000,000 | 1,000,000 | |||||||||||||||||
Preferred stock, par value | $ 0.0001 | $ 0.0001 | |||||||||||||||||
Preferred stock, issued | 1 | 0 | |||||||||||||||||
Preferred stock, outstanding | 1 | 0 | |||||||||||||||||
Purchase price | |||||||||||||||||||
Share based compensation | $ 89,597 | $ 850,775 | |||||||||||||||||
Common stock, authorized | 36,000,000 | 36,000,000 | |||||||||||||||||
Common stock, par value | $ 0.0001 | $ 0.0001 | |||||||||||||||||
Common stock, issued | 3,120,161 | 1,830,818 | |||||||||||||||||
Common Stock, Shares, Outstanding | 3,120,161 | 1,830,818 | |||||||||||||||||
Common stock issued | 850,775 | ||||||||||||||||||
Loss on extinguishment of debt | $ (51,574) | (1,759,969) | |||||||||||||||||
Unrecognized compensation expense | 75,582 | 0 | |||||||||||||||||
Equity Option [Member] | |||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||
Share based compensation | $ 89,597 | $ 0 | |||||||||||||||||
Officers and Directors [Member] | |||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||
Share issued price per share | $ 2.81 | ||||||||||||||||||
Common stock issued | 1,667 | ||||||||||||||||||
Third Party Vendor [Member] | |||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||
Common stock issued | 100,000 | 100,000 | |||||||||||||||||
Share issued price per share | $ 0.47 | $ 0.47 | $ 0.12 | $ 1.22 | |||||||||||||||
Common stock issued | $ 5,000 | $ 5,000 | $ 100,000 | $ 50,000 | |||||||||||||||
Proceeds from issuance of common stock | $ 22,000 | $ 316 | $ 3,000 | ||||||||||||||||
Common stock issued | 112,000 | 100,000 | |||||||||||||||||
Accredited Investor [Member] | |||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||
Stock issued during the period value convertible securities | 110,000 | 95,000 | 67,755 | 599,350 | |||||||||||||||
Share issued price per share | $ 0.06 | $ 0.13 | $ 0.19 | $ 0.075 | $ 0.13 | ||||||||||||||
Conversion of principal amount | $ 10,000 | $ 9,500 | $ 6,776 | $ 53,000 | |||||||||||||||
Interest payable | 6,935 | ||||||||||||||||||
Loss on extinguishment of debt | $ 1,720 | 2,750 | $ 7,000 | $ 2,850 | $ 2,033 | $ 53,942 | |||||||||||||
Conversion of principal amount | $ 1,000 | ||||||||||||||||||
Common Stock [Member] | |||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||
Stock issued during the period value convertible securities | 872,105 | ||||||||||||||||||
Common stock issued | 21,346 | ||||||||||||||||||
Common stock issued | |||||||||||||||||||
Common Stock [Member] | Officers and Directors [Member] | |||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||
Share issued price per share | $ 1.35 | ||||||||||||||||||
Common stock issued | 3,571 | ||||||||||||||||||
Common Stock [Member] | Third Party Vendor [Member] | |||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||
Proceeds from issuance of common stock | $ 179 | ||||||||||||||||||
Warrant [Member] | |||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||
Share issued price per share | $ 20 | ||||||||||||||||||
Common stock issued | $ 100,000 | ||||||||||||||||||
Common stock issued | 100,000 | ||||||||||||||||||
Number of warrants | 200,000 | 1,458,730 | |||||||||||||||||
Exercise price | $ 1 | ||||||||||||||||||
Expected dividend yield | 0% | ||||||||||||||||||
Expected volatility | 134% | ||||||||||||||||||
Risk free interest rate | 3.16% | ||||||||||||||||||
Expected term | 3 years | ||||||||||||||||||
Series X Preferred Stock [Member] | |||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||
Redemption price per share | $ 1 | ||||||||||||||||||
Purchase price | $ 1,000 | ||||||||||||||||||
Series X Preferred Stock [Member] | Common Stock [Member] | |||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||
Stock issued during the period value convertible securities | 500,000,000 | ||||||||||||||||||
Estimated fair market value | $ 183,498 | ||||||||||||||||||
Share based compensation | 182,498 | ||||||||||||||||||
Stock repurchased during period value | $ 1,000 |
SUBSEQUENT EVENTS (Details Narr
SUBSEQUENT EVENTS (Details Narrative) | 2 Months Ended | ||||||||
Sep. 29, 2022 USD ($) | Sep. 08, 2022 USD ($) $ / shares shares | Jun. 10, 2022 USD ($) | Nov. 08, 2022 USD ($) shares | Oct. 20, 2022 shares | Sep. 28, 2022 $ / shares shares | Sep. 01, 2022 shares | Aug. 31, 2022 shares | May 31, 2022 shares | |
Subsequent Event [Line Items] | |||||||||
Convertible notes converted principal and accrued interest | $ 6,178 | ||||||||
Shares authorized | shares | 36,000,000 | 36,000,000 | |||||||
Subsequent Event [Member] | |||||||||
Subsequent Event [Line Items] | |||||||||
Convertible notes converted principal and accrued interest | $ 150,535 | ||||||||
Aggregate shares of common stock | shares | 3,798,000 | ||||||||
Shares authorized | shares | 250,000,000 | ||||||||
Debt conversion percentage | 0.12 | ||||||||
Exercise price | $ / shares | $ 1 | ||||||||
Subsequent event description | In addition, the Closing is subject to the satisfaction or waiver of certain conditions, including, but not limited to, (i) the increase by the Company of its authorized shares of common stock to 250,000,000 shares; (ii) execution by Diverted River of agreements with clients generating at least $60,000 per month in revenue for at least 24 months following the Closing, with such agreements being in form and substance as agreed to by the Company and Diverted River; (iii) settlement by the Company of any debt with landlords related to the closure of the Company’s gaming center venues; (iv) the Company having obtained binding commitments from investors to invest at least $4,000,000, through the issuance of shares of Company common stock; (v) repayment by the Company of its convertible notes, or execution of agreements with noteholders to convert such notes into shares of Company common stock comprising no more than 12.5% of the issued and outstanding common stock of the Company after giving effect to the Closing; (vi) reaching an agreement with warrant holders to amend the exercise price to be $1.00 per share; (vii) execution of note amendments by holders of Company promissory notes that are not presently convertible into shares of Company common stock such that the notes will be converted into Company common stock and such notes shall have been converted, with such shares being included in the 12.5% limitation set forth in clause (v) hereof; (viii) provision by Diverted River of audited financial statements; and (ix) completion of satisfactory due diligence reviews by the Company and Diverted River | ||||||||
Revenues | $ 60,000 | ||||||||
Issuance of common stock | $ 4,000,000 | ||||||||
Subsequent Event [Member] | Diverted River Technology LLC [Member] | |||||||||
Subsequent Event [Line Items] | |||||||||
Business acquistion percentage | 100% | ||||||||
Subsequent Event [Member] | Diverted River Technology LLC [Member] | Common Stock [Member] | |||||||||
Subsequent Event [Line Items] | |||||||||
Business acquistion percentage | 80% | ||||||||
Subsequent Event [Member] | September 2022 Ionic Securities Purchase Agreement [Member] | |||||||||
Subsequent Event [Line Items] | |||||||||
Debt beneficial ownership percentage | 4.99% | ||||||||
Subsequent Event [Member] | September 2022 Jefferson Street Securities Purchase Agreement [Member] | |||||||||
Subsequent Event [Line Items] | |||||||||
Debt beneficial ownership percentage | 4.99% | ||||||||
Subsequent Event [Member] | September Two Thousand and Twenty Two First Fire Securities Purchase Agreement [Member] | |||||||||
Subsequent Event [Line Items] | |||||||||
Debt beneficial ownership percentage | 4.99% | ||||||||
Subsequent Event [Member] | September 2022 Ionic Securities Purchase Agreement [Member] | |||||||||
Subsequent Event [Line Items] | |||||||||
Debt conversion percentage | 0.12 | ||||||||
Debt maturity date | Jan. 08, 2023 | ||||||||
Debt principal amount | $ 66,000 | ||||||||
Payment for debt | $ 66,000 | ||||||||
Debt conversion percentage | 12% | ||||||||
Debt original issue discount | $ 6,000 | ||||||||
Debt purchase price | $ 60,000 | ||||||||
Debt conversion price | $ / shares | $ 0.02 | ||||||||
Guaranteed interest | $ 2,640 | ||||||||
Debt instrument event of default description | Upon the occurrence of any Event of Default (as defined in the September 2022 Ionic Note), which has not been cured within the time prescribed in the September 2022 Ionic Note, it shall become immediately due and payable and the Company shall pay to Ionic, in full satisfaction of its obligations hereunder, an amount equal to the principal amount then outstanding plus accrued interest multiplied by 125% | ||||||||
Warrants term | 3 years | ||||||||
Purchase of warrant shares | shares | 120,000 | ||||||||
Exercise price | $ / shares | $ 1 | ||||||||
Subsequent Event [Member] | September 2022 Ionic Securities Purchase Agreement [Member] | Maximum [Member] | |||||||||
Subsequent Event [Line Items] | |||||||||
Debt instrument expected conversion waived rate | 9.99% | ||||||||
Subsequent Event [Member] | September 2022 Jefferson Street Securities Purchase Agreement [Member] | |||||||||
Subsequent Event [Line Items] | |||||||||
Debt conversion percentage | 0.12 | ||||||||
Debt maturity date | Jan. 08, 2023 | ||||||||
Debt principal amount | $ 27,500 | ||||||||
Payment for debt | $ 27,500 | ||||||||
Debt conversion percentage | 12% | ||||||||
Debt original issue discount | $ 2,500 | ||||||||
Debt purchase price | $ 25,000 | ||||||||
Debt conversion price | $ / shares | $ 0.02 | ||||||||
Guaranteed interest | $ 1,100 | ||||||||
Debt instrument event of default description | Upon the occurrence of any Event of Default (as defined in the September 2022 Jefferson Street Note), which has not been cured within the time prescribed in the September 2022 Jefferson Street Note, it shall become immediately due and payable and the Company shall pay to Jefferson Street, in full satisfaction of its obligations hereunder, an amount equal to the principal amount then outstanding plus accrued interest multiplied by 125% | ||||||||
Warrants term | 3 years | ||||||||
Purchase of warrant shares | shares | 45,454 | ||||||||
Exercise price | $ / shares | $ 1 | ||||||||
Subsequent Event [Member] | September 2022 Jefferson Street Securities Purchase Agreement [Member] | Maximum [Member] | |||||||||
Subsequent Event [Line Items] | |||||||||
Debt instrument expected conversion waived rate | 9.99% | ||||||||
Subsequent Event [Member] | September Two Thousand and Twenty Two First Fire Securities Purchase Agreement [Member] | |||||||||
Subsequent Event [Line Items] | |||||||||
Debt conversion percentage | 0.12 | ||||||||
Debt maturity date | Jan. 08, 2023 | ||||||||
Debt principal amount | $ 66,000 | ||||||||
Payment for debt | $ 66,000 | ||||||||
Debt conversion percentage | 12% | ||||||||
Debt original issue discount | $ 6,000 | ||||||||
Debt purchase price | $ 60,000 | ||||||||
Debt conversion price | $ / shares | $ 0.02 | ||||||||
Guaranteed interest | $ 2,640 | ||||||||
Debt instrument event of default description | Upon the occurrence of any Event of Default (as defined in the September 2022 FirstFire Note), which has not been cured within the time prescribed in the September 2022 FirstFire Note, it shall become immediately due and payable and the Company shall pay to FirstFire, in full satisfaction of its obligations hereunder, an amount equal to the principal amount then outstanding plus accrued interest multiplied by 125% | ||||||||
Warrants term | 3 years | ||||||||
Purchase of warrant shares | shares | 120,000 | ||||||||
Exercise price | $ / shares | $ 1 | ||||||||
Subsequent Event [Member] | September Two Thousand and Twenty Two First Fire Securities Purchase Agreement [Member] | Maximum [Member] | |||||||||
Subsequent Event [Line Items] | |||||||||
Debt instrument expected conversion waived rate | 9.99% | ||||||||
Subsequent Event [Member] | Series X Preferred Stock [Member] | |||||||||
Subsequent Event [Line Items] | |||||||||
Shares authorized | shares | 250,000,000 | 36,000,000 |