Cover
Cover - shares | 9 Months Ended | |
Feb. 28, 2023 | Apr. 19, 2023 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Document Period End Date | Feb. 28, 2023 | |
Document Fiscal Period Focus | Q3 | |
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 | 28,367,796 | |
Entity Information, Former Legal or Registered Name | Not applicable |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Feb. 28, 2023 | May 31, 2022 |
Current Assets | ||
Cash | $ 29,066 | $ 103,437 |
Accounts receivable, net | 28,928 | 60,549 |
Other receivable – sale of Brazil assets | 192,545 | |
Inventory | 115,188 | |
Prepaid expenses | 154,093 | |
Other current assets | 3,000 | 74,101 |
Total Current Assets | 253,539 | 507,368 |
Other Assets | ||
Goodwill | 1,472,884 | |
Intangible assets, net | 1,007,142 | |
Deferred brokerage fees | 24,807 | 71,436 |
Property and equipment, net | 3,595 | 195,202 |
Right of use asset, operating leases, net | 532,216 | |
Security deposits | 40,307 | |
Total Other Assets | 28,402 | 3,319,598 |
TOTAL ASSETS | 281,941 | 3,826,966 |
Current Liabilities | ||
Accounts payable | 1,103,620 | 779,363 |
Accrued expenses | 1,804,788 | 1,835,181 |
Current portion of convertible notes payable, net of discount | 4,515,190 | 1,548,351 |
Derivative liability | 808,412 | |
Loan payable | 41,735 | 41,735 |
Operating lease obligation, current | 1,167,601 | 332,519 |
Current portion of deferred revenues | 6,986 | 27,768 |
Total Current Liabilities | 9,448,332 | 4,812,735 |
Non-Current Liabilities | ||
Non-current portion of convertible notes payable, net of discount | 1,545,044 | |
Secured promissory notes payable, net of discount | 83,431 | 69,636 |
Operating lease obligation, net of current portion | 1,092,627 | |
Deferred revenues, less current portion | 37,251 | 152,620 |
Total Non-Current Liabilities | 120,682 | 2,859,927 |
Total Liabilities | 9,569,014 | 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 February 28, 2023, and May 31, 2022, respectively | ||
Common stock - $0.0001 par value; 250,000,000 shares authorized; 21,686,369 and 1,830,818 shares issued and outstanding as of February 28, 2023, and May 31, 2022, respectively | 2,168 | 182 |
Common stock issuable | 48,244 | 57,700 |
Additional paid-in capital | 19,730,713 | 26,014,021 |
Accumulated deficit | (29,219,299) | (29,838,444) |
Total Simplicity Esports and Gaming Company Stockholders’ Deficit | (9,438,174) | (3,766,541) |
Non-Controlling Interest | 151,101 | (79,155) |
Total Stockholders’ Deficit | (9,287,073) | (3,845,696) |
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT | 281,941 | 3,826,966 |
Related Party [Member] | ||
Other Assets | ||
Due from franchisees | 411 | |
Current Liabilities | ||
Related party loan, current portion | $ 247,818 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - $ / shares | Feb. 28, 2023 | 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 | 250,000,000 | 250,000,000 |
Common stock, issued | 21,686,369 | 1,830,818 |
Common stock, outstanding | 21,686,369 | 1,830,818 |
Consolidated Statements of Oper
Consolidated Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Feb. 28, 2023 | Feb. 28, 2022 | Feb. 28, 2023 | Feb. 28, 2022 | |
Revenues | ||||
Total Revenues | $ 144,633 | $ 888,511 | $ 664,063 | $ 2,637,166 |
Cost of Goods Sold | (46,151) | (536,603) | (214,047) | (1,629,119) |
Gross Margin | 98,482 | 351,908 | 450,016 | 1,008,047 |
Operating Expenses | ||||
Compensation and related benefits | 86,925 | 777,992 | 880,465 | 2,927,004 |
Professional fees | 63,147 | 54,889 | 339,903 | 633,965 |
General and administrative expenses | 153,351 | 531,349 | 687,105 | 1,407,171 |
Impairment loss | 3,258,721 | |||
Total Operating Expenses | 303,423 | 1,364,230 | 5,166,194 | 4,968,140 |
Loss from Operations | (204,941) | (1,012,322) | (4,716,178) | (3,960,093) |
Other (Expense) Income | ||||
Loss on extinguishment of debt | (1,157) | (276,655) | (1,730,801) | |
Interest and financing expense | (476,140) | (1,003,137) | (2,043,971) | (2,808,627) |
Interest income | 1 | 2 | 1 | 30 |
Other income | 65,608 | 52,564 | ||
Loss on issuance of shares to employees and as consideration for accounts payable | (35,747) | |||
Gain on disposition of assets | 395,272 | |||
(Loss) gain on change in fair value of derivative liability | (96,971) | 7,292,849 | ||
Total Other (Expense) Income | (574,267) | (1,003,135) | 5,397,357 | (4,486,834) |
(Loss) Income Before Provision for Income Taxes | (779,208) | (2,015,457) | 681,179 | (8,446,927) |
Net (Loss) Income | (779,208) | (2,015,457) | 681,179 | (8,446,927) |
Net Loss (Income) attributable to noncontrolling interest | 3,752 | 60,805 | (62,034) | 152,071 |
Net (Loss) Income attributable to common shareholders | $ (775,456) | $ (1,954,652) | $ 619,145 | $ (8,294,856) |
Basic Net (Loss) Income per share | $ (0.04) | $ (1.21) | $ 0.07 | $ (5.33) |
Diluted Net (Loss) Income Per Share | $ (0.04) | $ (1.21) | $ 0.06 | $ (5.33) |
Basic Weighted Average Number of Common Shares Outstanding | 18,761,959 | 1,616,022 | 8,975,709 | 1,555,722 |
Diluted Weighted Average Number of Common Shares Outstanding | 18,761,959 | 1,616,022 | 10,940,364 | 1,555,722 |
Franchise Royalties Fees and Other [Member] | ||||
Revenues | ||||
Total Revenues | $ 137,390 | $ 114,317 | $ 208,345 | $ 273,628 |
Company Owned Stores Sales [Member] | ||||
Revenues | ||||
Total Revenues | 2,518 | 702,531 | 446,354 | 2,057,764 |
Esports Revenue [Member] | ||||
Revenues | ||||
Total Revenues | $ 4,725 | $ 71,663 | $ 9,364 | $ 305,774 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Stockholders' 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 |
Balance at May. 31, 2021 | $ 142 | $ 16,708,762 | $ 173,039 | $ (12,291,899) | $ 4,590,044 | |||
Balance, shares at May. 31, 2021 | 1,427,124 | |||||||
Net loss attributable to non-controlling interest | (54,837) | (54,837) | ||||||
Net Income (Loss) | (4,210,907) | (4,210,907) | ||||||
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 acquisitions | $ 1 | 62,999 | 63,000 | |||||
Shares issued in connection with franchise acquisition, shares | 6,000 | |||||||
Common stock issuable | 850,775 | 850,775 | ||||||
Balance at Aug. 31, 2021 | $ 149 | 21,233,531 | 850,775 | 118,202 | (16,502,806) | 5,699,851 | ||
Balance, shares at Aug. 31, 2021 | 1,492,595 | |||||||
Balance at May. 31, 2021 | $ 142 | 16,708,762 | 173,039 | (12,291,899) | 4,590,044 | |||
Balance, shares at May. 31, 2021 | 1,427,124 | |||||||
Net loss attributable to non-controlling interest | (152,071) | |||||||
Net Income (Loss) | (8,294,856) | |||||||
Balance at Feb. 28, 2022 | $ 159 | 24,572,691 | 55,625 | 60,637 | (20,586,755) | 4,102,087 | ||
Balance, shares at Feb. 28, 2022 | 1,616,022 | |||||||
Balance at Aug. 31, 2021 | $ 149 | 21,233,531 | 850,775 | 118,202 | (16,502,806) | 5,699,851 | ||
Balance, shares at Aug. 31, 2021 | 1,492,595 | |||||||
Shares issued to directors, officers, or employees as compensation | $ 8 | 852,085 | (838,250) | 13,843 | ||||
Shares issued to directors, officers and employees as compensation, shares | 84,656 | |||||||
Stock-based compensation | 366,721 | 366,721 | ||||||
Net loss attributable to non-controlling interest | (36,429) | (36,429) | ||||||
Net Income (Loss) | (2,129,297) | (2,129,297) | ||||||
Shares issued in connection with issuance and amendments of notes payable | $ 1 | 1,817,563 | 1,817,564 | |||||
Shares issued in connection with issuance and amendments of notes payable, shares | 18,333 | |||||||
Shares issued for contracted services | $ 1 | 174,230 | (3,750) | 170,481 | ||||
Shares issued for contracted services, shares | 20,438 | |||||||
Shares issued in connection with franchise acquisitions | 41,850 | 41,850 | ||||||
Balance at Nov. 30, 2021 | $ 159 | 24,444,130 | 50,625 | 81,773 | (18,632,103) | 5,944,584 | ||
Balance, shares at Nov. 30, 2021 | 1,616,022 | |||||||
Stock-based compensation | 183,361 | 5,000 | 188,361 | |||||
Net loss attributable to non-controlling interest | (60,805) | (60,805) | ||||||
Net Income (Loss) | (1,954,652) | (1,954,652) | ||||||
Shares issued in connection with franchise acquisition, shares | ||||||||
Cash distribution from minority interest | (54,800) | (54,800) | ||||||
Non-controlling interest of investment in subsidiary | 39,399 | 39,399 | ||||||
Balance at Feb. 28, 2022 | $ 159 | 24,572,691 | 55,625 | 60,637 | (20,586,755) | 4,102,087 | ||
Balance, shares at Feb. 28, 2022 | 1,616,022 | |||||||
Balance at May. 31, 2022 | $ 182 | 26,014,021 | 57,700 | (79,155) | (29,838,444) | (3,845,696) | ||
Balance, shares at May. 31, 2022 | 1,830,818 | |||||||
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 loss attributable to non-controlling interest | 72,262 | 72,262 | ||||||
Net Income (Loss) | (4,157,110) | (4,157,110) | ||||||
Balance at Aug. 31, 2022 | $ 311 | 26,459,298 | 58,744 | 183,498 | 247,103 | (33,995,554) | (7,046,600) | |
Balance, shares at Aug. 31, 2022 | 3,120,161 | 1 | ||||||
Balance at May. 31, 2022 | $ 182 | 26,014,021 | 57,700 | (79,155) | (29,838,444) | (3,845,696) | ||
Balance, shares at May. 31, 2022 | 1,830,818 | |||||||
Net loss attributable to non-controlling interest | 62,034 | |||||||
Net Income (Loss) | 619,145 | |||||||
Balance at Feb. 28, 2023 | $ 2,168 | 19,547,215 | 48,244 | 183,498 | 151,101 | (29,219,299) | (9,287,073) | |
Balance, shares at Feb. 28, 2023 | 21,686,369 | 1 | ||||||
Balance at Aug. 31, 2022 | $ 311 | 26,459,298 | 58,744 | 183,498 | 247,103 | (33,995,554) | (7,046,600) | |
Balance, shares at Aug. 31, 2022 | 3,120,161 | 1 | ||||||
Shares issued in connection with issuance and conversions of notes payable | $ 596 | 504,948 | (10,500) | 495,044 | ||||
Shares issued in connection with issuance and amendments of notes payable, shares | 5,956,000 | |||||||
Shares issued as consideration for accounts payable | $ 50 | 40,272 | 40,322 | |||||
Shares issued as consideration for accounts payable, shares | 500,000 | |||||||
Stock-based compensation | 75,582 | 75,582 | ||||||
Net loss attributable to non-controlling interest | (6,476) | (6,476) | ||||||
Net Income (Loss) | 5,551,711 | 5,551,711 | ||||||
Derivative liability | (10,485,603) | (10,485,603) | ||||||
Distributions to minority interest holders | (85,774) | (85,774) | ||||||
Balance at Nov. 30, 2022 | $ 957 | 16,594,497 | 48,244 | 183,498 | 154,853 | (28,443,843) | (11,461,794) | |
Balance, shares at Nov. 30, 2022 | 9,576,161 | 1 | ||||||
Shares issued in connection with issuance and conversions of notes payable | $ 1,211 | 274,150 | 275,361 | |||||
Shares issued in connection with issuance and amendments of notes payable, shares | 12,110,208 | |||||||
Net loss attributable to non-controlling interest | (3,752) | (3,752) | ||||||
Net Income (Loss) | (775,456) | (775,456) | ||||||
Adjustments to derivative liability for sequencing | 2,678,568 | 2,678,568 | ||||||
Balance at Feb. 28, 2023 | $ 2,168 | $ 19,547,215 | $ 48,244 | $ 183,498 | $ 151,101 | $ (29,219,299) | $ (9,287,073) | |
Balance, shares at Feb. 28, 2023 | 21,686,369 | 1 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 9 Months Ended | |
Feb. 28, 2023 | Feb. 28, 2022 | |
Cash flows from operating activities: | ||
Net Income (Loss) | $ 681,179 | $ (8,446,927) |
Adjustments to reconcile net income (loss) to net cash used in operating activities: | ||
Non-cash interest expense | 1,934,275 | 2,612,798 |
Cash paid in interest | (191,314) | |
Deferred guaranteed interest | (15,385) | |
Depreciation expense | 19,723 | 245,817 |
Amortization expense | 333 | 221,910 |
Provision for uncollectible accounts | 29,829 | |
Impairment loss | 3,258,721 | |
Change in lease liability net of leased asset | (243,624) | (23,201) |
Loss on extinguishment of debt | 276,655 | 1,771,301 |
Gain on change in value of derivative liability | (7,292,849) | |
Stock-based compensation | 165,179 | 1,407,175 |
Gain on acquisition or disposition of assets | (395,272) | |
Gain on forgiveness of PPP loan | (40,500) | |
Loss on issuance of shares to employees and as consideration for accounts payable | 35,747 | |
Deferred equity financing costs | (146,305) | |
Issuance of Series X preferred share | 182,498 | |
Issuance of shares for services | 407,883 | |
Issuance of shares for interest payment | 81,508 | |
Changes in operating assets and liabilities: | ||
Accounts receivable | (33,335) | 99,539 |
Inventory | 42,107 | (96,567) |
Other current assets | (267,959) | |
Prepaid expenses | 74,101 | (204,728) |
Security deposits | 40,307 | |
Deferred brokerage fees | 46,629 | 3,651 |
Deferred revenues | (136,151) | 269,357 |
Accounts payable | 536,807 | (75,942) |
Accrued expenses | 92,842 | (112,132) |
Due from franchisees | 411 | 23,007 |
Net cash used in operating activities | (683,888) | (2,477,014) |
Cash flows from investing activities: | ||
Proceeds from sale of Brazil assets | 199,231 | |
Proceeds from sale of Fort Bliss assets | 128,632 | |
Payments to minority interest holders | (62,424) | |
Purchase of property and equipment | (352,725) | |
Net cash provided by (used in) investing activities | 265,439 | (352,725) |
Cash flows from financing activities: | ||
Repayment of notes payable | (6,922) | (1,350,816) |
Proceeds from note payable | 351,000 | 4,009,318 |
Proceeds from sale of warrants | 100,000 | |
Distribution of non-controlling interest | (54,800) | |
Contribution from non-controlling interest | 39,399 | |
Net cash provided by financing activities | 344,078 | 2,743,101 |
Net change in cash | (74,371) | (86,638) |
Cash - beginning of period | 103,437 | 414,257 |
Cash - end of period | 29,066 | 327,619 |
Supplemental Disclosures of Cash Flow Information: | ||
Cash paid for interest | 191,314 | |
Cash paid for income taxes | ||
Supplemental Non-Cash Investing and Financing Information | ||
Common stock issued as consideration for accounts payable | $ 228,042 | |
Common stock issued for employees | 9,505 | |
Common stock issuable in connection with notes payable | $ 544 | $ 269,539 |
Purchase price consideration receivable – sale of Brazil assets | 246,151 | |
Common stock issued for consideration in an acquisition of assets | 104,850 | |
Common stock issued in connection with conversion of notes payable | 758,225 | |
Warrants issued for debt extinguishment | 2,392,593 | |
Beneficial conversion feature with warrants issued for debt discount | 181,263 | 3,534,556 |
Additional paid in capital related to derivative liability at inception | 10,485,603 | |
Adjustments to derivative liability based on sequencing | (2,678,568) | |
Derivative liability recorded as debt discount | 294,226 | |
Minority interest distribution paid directly by acquirer of assets | $ 44,100 |
ORGANIZATION AND DESCRIPTION OF
ORGANIZATION AND DESCRIPTION OF BUSINESS | 9 Months Ended |
Feb. 28, 2023 | |
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, PLAYlive Nation, Inc. (“PLAYlive”), acquired on July 29, 2019, the Company has a network of franchised esports gaming centers. As of February 28, 2023, the Company had no corporate owned stores and five franchised locations operating in California, Georgia, Ohio, South Carolina, and Texas. 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. |
SUMMARY OF SIGNIFICANT ACCOUNTI
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 9 Months Ended |
Feb. 28, 2023 | |
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 (“U.S. 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 and nine months ended February 28, 2023, 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 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 except as noted in the Fair Value Measurement section described below. 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 U.S. 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: 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. As of February 28, 2023, all Company-owned stores have been sold or closed. 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 February 28, 2023, 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 February 28, 2023: SCHEDULE OF DEFERRED REVENUES May 31, 2022 Revenue Recognized February 28, 2023 Deferred Revenue $ 180,388 $ 136,151 $ 44,237 Total $ 180,388 $ 136,151 $ 44,237 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 $ 0 83,957 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 $ 0 177,177 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. During the nine months ended February 28, 2023, the Company performed an internal evaluation of the intangible assets which indicated impairment was required and recorded an impairment charge of approximately $ 1,007,142 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 February 28, 2023, five franchise locations were considered to be operational in the following states: California, Georgia, Ohio, South Carolina, and Texas. Stock-based 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, Usage of Authorized but Unissued Shares of Common Stock As of February 28, 2023, the Company was authorized to issue 250,000,000 0.0001 36,000,000 250,000,000 250,000,000 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. The following table shows the computation of basic and diluted earnings per share for the three and nine months ended February 28, 2023, and 2022: SCHEDULE OF BASIC AND DILUTED EARNINGS PER SHARE February 28, 2023 February 28, 2022 February 28, 2023 February 28, 2022 Three Months ended Nine Months ended February 28, 2023 February 28, 2022 February 28, 2023 February 28, 2022 Numerator: Net (Loss) Income attributable to common shareholders $ (775,456 ) $ (1,954,652 ) $ 619,145 $ (8,294,856 ) Denominator: Weighted-average basic shares outstanding 18,761,959 1,616,022 8,975,709 1,555,722 Effect of dilutive securities - - 1,964,655 - Weighted-average diluted shares 18,761,959 1,616,022 10,940,364 1,555,722 Basic (Loss) Earnings per Share $ (0.04 ) $ (1.21 ) $ 0.07 $ (5.33 ) Diluted (Loss) Earnings per Share $ (0.04 ) $ (1.21 ) $ 0.06 $ (5.33 ) 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. Fair Value Measurements Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. ASC 820 establishes a three-tier fair value hierarchy which prioritizes the inputs used in measuring fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1 measurements) and the lowest priority to unobservable inputs (level 3 measurements). These tiers include: ● Level 1 inputs are quoted prices in active markets for identical assets or liabilities. ● Level 2 inputs are observable for the asset or liability, either directly or indirectly, including quoted prices in active markets for similar assets or liabilities. ● Level 3 inputs are unobservable and reflect the Company’s own assumptions. Other than the derivative liability, the Company does not have a material amount of financial assets or liabilities that are required to be measured at fair value on a recurring basis under U.S. GAAP. None of the Company’s non-financial assets or non-financial liabilities are required to be measured at fair value on a recurring basis. The Company has not elected to use fair value measurement for any assets or liabilities for which fair value measurement is not presently required by U.S. GAAP. However, the Company believes the fair values of cash and cash equivalents, accounts receivable, inventory, accounts payable, and accrued liabilities approximate their carrying amounts. 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 February 28, 2023, the Company had an accumulated deficit of $ 29,219,299 , a working capital deficit of $ 9,194,793 , net loss attributable to the common shareholders of $ 775,456 for the three months ended February 28, 2023, and net income attributable to common shareholders of $ 619,145 for the nine months ended February 28, 2023. These factors raise substantial doubt about the Company’s ability to continue as a going concern within one year from the of the date that the unaudited financial statements are issued. 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 February 28, 2023, and will potentially continue to impact the Company’s business. Management expects that all of its business 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 | 9 Months Ended |
Feb. 28, 2023 | |
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 53,606 199,231 192,545 On November 9, 2022, the Company and Simplicity El Paso LLC, the Company’s majority owned subsidiary, entered into an asset purchase agreement with a third party in which the third party acquired the fixed assets, real property lease (and associated property improvements and lease liabilities), and inventory related to the Fort Bliss company owned location for $ 185,000 175,000 10,000 0 128,632 0 44,100 154,348 |
PROPERTY AND EQUIPMENT
PROPERTY AND EQUIPMENT | 9 Months Ended |
Feb. 28, 2023 | |
Property, Plant and Equipment [Abstract] | |
PROPERTY AND EQUIPMENT | NOTE 4 — PROPERTY AND EQUIPMENT The following is a summary of property and equipment—at cost, less accumulated depreciation: SCHEDULE OF PROPERTY AND EQUIPMENT February 28, 2023 May 31, 2022 Leasehold improvements $ - $ 50,891 Property and equipment 21,287 477,812 Total cost 21,287 528,793 Less accumulated depreciation (17,692 ) (333,591 ) Net property and equipment $ 3,595 $ 195,202 During the three months ended February 28, 2023, and 2022, the Company recorded depreciation expense of $ 132 and $ 80,164 , respectively. During the nine months ended February 28, 2023, and 2022, the Company recorded depreciation expense of $ 19,723 and $ 245,817 , respectively. During the three months ended February 28, 2023, and 2022, impairment expense of $ 0 0 177,177 0 |
INTANGIBLE ASSETS
INTANGIBLE ASSETS | 9 Months Ended |
Feb. 28, 2023 | |
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 February 28, 2023: SCHEDULE OF INTANGIBLE ASSETS February 28, 2023 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 February 28, 2023, and 2022, the Company recorded impairment loss of $ 0 0 1,007,142 0 Amortization expense for the three months ended February 28, 2023, and 2022 was $ 0 73,494 333 221,910 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 As of February 28, 2023 As of 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 February 28, 2023, and 2022 the Company recorded impairment loss of $ 0 0 1,472,884 0 |
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS | 9 Months Ended |
Feb. 28, 2023 | |
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 5 June 10, 2022 6,178 0 339 2,716 2,716 Preferred Stock 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 |
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 9 Months Ended |
Feb. 28, 2023 | |
Commitments and Contingencies Disclosure [Abstract] | |
COMMITMENTS AND CONTINGENCIES | NOTE 7 — COMMITMENTS AND CONTINGENCIES Leases As of February 28, 2023, the Company had 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 February 28, 2023: SUMMARIZES OF RIGHT OF USE ASSET AND LEASE LIABILITY Right-of-use Asset, net $ - Lease Liability Current $ 1,167,601 Long Term - Total $ 1,167,601 During the three months ended February 28, 2023, the Company did not recognize a loss on impairment related to the closure of any Company owned stores. During the nine months ended February 28, 2023, the Company recognized a loss on impairment of $ 518,295 The following table summarizes the Company’s scheduled future minimum lease payments as of February 28, 2023: SCHEDULE OF FUTURE MINIMUM LEASE PAYMENTS 2023 $ 133,743 2024 452,511 2025 405,795 2026 321,952 2027 and beyond 47,500 Total Operating Lease Obligations $ 1,361,501 Less: Amount representing imputed interest (193,900 ) Present value of minimum lease payments $ 1,167,601 Less current portion 1,167,601 Long term portion $ - As of February 28, 2023, and May 31, 2022, the weighted-average remaining lease terms was 2.6 3.6 12 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 |
DEBT
DEBT | 9 Months Ended |
Feb. 28, 2023 | |
Debt Disclosure [Abstract] | |
DEBT | NOTE 8 — DEBT The table below presents the Company’s outstanding debt balances as of February 28, 2023, 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 41,735 Principal Borrowings 386,100 - - - Repayments - (6,922 ) (247,818 ) - Conversions (443,600 ) - - - Totals $ (57,500 ) $ (6,922 ) $ (247,818 ) $ - Unamortized Debt Issuance Costs, Beneficial Conversion Feature, and Warrant Discount Beginning Balance $ (2,267,952 ) $ (137,136 ) $ - $ - Additions (532,169 ) - - - Accretion 2,011,464 20,717 - - Ending Balance $ (788,657 ) $ (116,419 ) $ - $ - Principal Balance as of February 28, 2023 $ 5,303,847 $ 199,850 $ - $ 41,735 Carrying Value as of February 28, 2023 4,515,190 83,431 - 41,735 Less Short-Term Portion 4,515,190 - - 41,735 Long Term Portion $ - $ 83,431 $ - $ - Scheduled principal maturities of the Company’s outstanding debt over the next five fiscal years are as follows: SCHEDULE OF PRINCIPAL MATURITIES OF OUTSTANDING DEBT Fiscal year ending May 31, 2023 $ 1,230,009 2024 4,164,971 2025 44,193 2026 48,820 2027 57,439 Thereafter - Outstanding Debt $ 5,545,432 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 On July 16, 2022, the Company and Labrys entered into a second amendment (the “Second Labrys Amendment”) to the Labrys SPA and the Labrys Note, as amended. Pursuant to the terms of the Second Labrys Amendment, the maturity date of the Labrys Note was extended to December 31, 2023. 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 0.10 0.02 0.02 0.0175 During the three and nine months ended February 28, 2023, the Company did not make any payments to Labrys. During the three and nine months ended February 28, 2023, the Company recognized $ 26,352 83,301 As of February 28, 2023, 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 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 0.10 0.02 0.02 0.0175 Concurrent with the adjustment to the conversion price of certain of the Company’s convertible promissory notes in September 2022 and pursuant to the Company’s Sequencing Policy, the Company recognized a derivative liability associated with the shares of Common Stock underlying the March 2021 FirstFire Note and associated accrued interest (see Note 10 – Derivative Liability) as well as an additional debt discount of $ 294,227 During the three months ended August 31, 2022, FirstFire converted $ 9,500 0.10 95,000 0.13 2,850 On various dates during the three months ended November 30, 2022, FirstFire converted $ 19,120 0.02 956,000 0.037 0.162 47,906 On various dates during the three months ended February 28, 2023, FirstFire converted $ 73,600 0.02 3,680,000 0.013 0.038 6,026 During the three and nine months ended February 28, 2023, the Company recognized $ 12,494 48,587 82,493 209,900 As of February 28, 2023, the carrying value and face value of the March 2021 FirstFire Note was $ 323,453 84,327 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 “Standard Prepayment Terms”). ● 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 the period stipulated by the June 2021 FirstFire Note, 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 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 0.10 0.02 0.02 0.0175 During the three and nine months ended February 28, 2023, the Company recorded interest expense of $ 134,589 408,523 As of February 28, 2023, the carrying value of the June 2021 FirstFire Note was $ 939,133 152,534 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, at any time at a conversion price equal to $ 11.50 ● The Company agrees 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 June 2021 GS Note contains the Standard Prepayment Terms and Standard Default Terms. ● 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 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 0.10 0.02 0.02 0.0175 During the three months ended August 31, 2022, GS converted $ 53,000 6,935 0.10 599,350 0.19 53,942 During the three and nine months ended February 28, 2023, the Company recorded interest expense of $ 28,356 113,240 As of February 28, 2023, the carrying value of the June 2021 GS Note was $ 197,863 32,136 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, at any time at a conversion price equal to $ 11.50 ● The Company agrees 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 August 2021 Jefferson Note contains the Standard Prepayment Terms and Standard Default Terms. ● 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 $ 300,000 300,000 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 0.10 0.10 0.02 0.02 0.0175 During the three months ended August 31, 2022, Jefferson converted $ 10,000 1,000 0.10 110,000 0.075 2,750 On various dates during the three months ended November 30, 2022, Jefferson converted $ 13,400 3,000 0.02 820,000 0.036 0.162 34,255 On various dates during the three months ended February 28, 2023, Jefferson converted $ 62,504 6,000 0.02 3,420,208 0.016 0.029 2,748 During the three and nine months ended February 28, 2023, the Company recorded interest expense of $ 53,513 145,697 As of February 28, 2023, the carrying value of the August 2021 Jefferson Note was $ 186,834 60,695 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, at any time at a conversion price equal to $ 11.50 ● The Company agrees 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 August 2021 Lucas Note contains the Standard Prepayment Terms and Standard Default Terms. ● 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 $ 180,000 180,000 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 On July 13, 2022, the Company and Lucas Ventures entered into an Amendment and Waiver Pursuant to Convertible Promissory Note (the “Second Lucas Amendment”). Pursuant to the terms of the Second Lucas Amendment, the parties agreed to extend the maturity date of the August 2021 Lucas Note to December 31, 2023 During the three and nine months ended February 28, 2023, the Company recorded interest expense of $ 24,658 74,795 As of February 28, 2023, the carrying value of the August 2021 Lucas Note was $ 149,589 50,411 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, at any time at a conversion price equal to $ 11.50 ● The Company agrees 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 August 2021 LGH Note contains the Standard Prepayment Terms and Standard Default Terms. ● 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 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 On July 13, 2022, the Company and LGH entered into an Amendment and Waiver Pursuant to Convertible Promissory Note (the “Second LGH Amendment”). Pursuant to the terms of the Second LGH Amendment, the parties agreed to extend the maturity date of the August 2021 LGH Note to December 31, 2023 During the three and nine months ended February 28, 2023, the Company recorded interest expense of $ 3,267 9,910 As of February 28, 2023, the carrying value of the August 2021 LGH Note was $ 193,320 6,680 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, at any time at a conversion price equal to $ 11.50 ● The Company agrees 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 September 2021 Ionic Note contains the Standard Prepayment Terms and Standard Default Terms. ● 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 1,400,000 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 0.10 0.02 0.02 0.0175 During the fiscal year ended May 31, 2022, Ionic converted $ 87,800 1.00 87,800 141,358 During the three months ended August 31, 2022, Ionic converted $ 6,776 0.10 67,755 0.13 2,033 Additionally, during the three months ended August 31, 2022, Ionic converted $ 15,000 0.10 150,000 0.075 4,500 On various dates during the three months ended November 30, 2022, Ionic converted $ 80,600 0.02 4,030,000 0.022 0.162 141,762 On various dates during the three months ended February 28, 2023, Ionic converted $ 100,200 0.02 5,010,000 0.014 0.038 7,618 During the three and nine months ended February 28, 2023, the Company recorded interest expense of $ 197,571 608,008 As of February 28, 2023, the carrying value of the September 2021 Ionic Note was $ 896,025 369,156 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, at any time at a conversion price equal to $ 1.00 ● The Company agrees 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 March 2022 FirstFire Note contains the Standard Prepayment Terms and Standard Default Terms. ● 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 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 0.10 0.02 0.02 0.0175 During the three and nine months ended February 28, 2023, the Company recorded accrued interest expense of $ 3,255 5,787 0 67,554 As of February 28, 2023, the carrying value of the March 2022 FirstFire Note was $ 110,000 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, at any time at a conversion price equal to $ 1.00 ● The Company agrees to pay interest on the March 2022 GS Principal Sum at the rate of 12% per annum provided that the first six months of interest shall be guaranteed. ● The March 2022 GS Note carries an original issue discount of $ 7,500 ● The March 2022 GS Note contains the Standard Prepayment Terms and Standard Default Terms. ● 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 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 0.10 0.02 0.02 0.0175 During the three and nine months ended February 28, 2023, the Company recorded accrued interest expense of $ 2,441 4,340 0 50,666 As of February 28, 2023, the carrying value of the March 2022 GS Note was $ 82,500 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, at any time at a conversion price equal to $ 1.00 ● The Company agrees 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 March 2022 Ionic Note contains the Standard Prepayment Terms and Standard Default Terms. ● 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 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 0.10 0.02 0.02 0.0175 During the three and nine months ended February 28, 2023, the Company recorded accrued interest expense of $ 3,255 5,787 0 67,554 As of February 28, 2023, the carrying value of the March 2022 Ionic Note was $ 110,000 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, at any time at a conversion price equal to $ 1.00 ● The Company agrees 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 April 2022 Jefferson Note contains the Standard Prepayment Terms and Standard Default Terms. ● 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 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 0.10 0.02 0.02 0.0175 During the three and nine months ended February 28, 2023, the Company recorded accrued interest expense of $ 2,441 4,068 0 50,666 As of February 28, 2023, the carrying value of the April 2022 Jefferson Note was $ 82,500 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, at any time after 180 days from the date of issuance of the July 2022 FirstFire Note at a conversion price equal to $ 0.10 ● The Company agrees 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 July 2022 FirstFire Note contains the Standard Prepayment Terms and Standard Default Terms. Upon issuance of the July 2022 FirstFire Note, the Company received net proceeds of $ 25,000 25,000 Upon the issuance of the September 2022 FirstFire Note, September 2022 Ionic Note, and September 2022 Jefferson Note described below, the conversion price of the July 2022 FirstFire Note was further reduced from $ 0.10 0.02 0.02 0.0175 During the three and nine months ended February 28, 2023, the Company recorded interest expense of $ 814 8,521 0 6,461 814 2,060 As of February 28, 2023, 2022, the carrying value of the July 2022 FirstFire Note was $ 27,500 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, at any time after 180 days from the date of issuance of the July 2022 GS Note at a conversion price equal to $ 0.10 ● The Company agrees 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 July 2022 GS Note contains the Standard Prepayment Terms and Standard Default Terms. Upon issuance of the July 2022 GS Note, the Company received net proceeds of $ 25,000 25,000 Upon the issuance of the September 2022 FirstFire Note, September 2022 Ionic Note, and September 2022 Jefferson Note described below, the conversion price of the July 2022 GS Note was further reduced from $ 0.10 0.02 0.02 0.0175 During the three and nine months ended February 28, 2023, the Company recorded interest expense of $ 814 8,521 0 6,461 814 2,060 As of February 28, 2023, 2022, the carrying value of the July 2022 GS Note was $ 27,500 July 2022 Ionic Ventures, LLC 12% Convertible Promissory Note On July 14, 2022, the Company entered into a securities purchase agreement (the “July 2022 Ionic SPA”) with Ionic, 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 Ionic SPA and July 2022 Ionic Note: ● The July 2022 Ionic Note matures on September 14, 2022 ● At its election, Ionic may convert the July 2022 Ionic Note into the Company’s common stock, subject to the Beneficial Ownership Limitations, at any time after 180 days from the date of issuance of the July 2022 Ionic Note at a conversion price equal to $ 0.10 ● The Company agrees to pay interest on the July 2022 Ionic Principal Sum at the rate of 12 ● The July 2022 Ionic Note carries an original issue discount of $ 2,500 ● The July 2022 Ionic Note contains the Standard Prepayment Terms and Standard Default Terms. Upon issuance of the July 2022 Ionic Note, the Company received net proceeds of $ 25,000 25,000 Upon the issuance of the September 2022 FirstFire Note, September 2022 Ionic Note, and September 2022 Jefferson Note described below, the conversion price of the July 2022 Ionic Note was further reduced from $ 0.10 0.02 0.02 0.0175 During the three and nine months ended February 28, 2023, the Company recorded interest expense of $ 814 8,521 0 6,461 814 2,060 As of February 28, 2023, 2022, the carrying value of the July 2022 Ionic Note was $ 27,500 July 2022 Jefferson Street Capital LLC 12% Convertible Promissory Note On July 14, 2022, the Company entered into a securities purchase agreement (the “July 2022 Jefferson SPA”) with Jefferson, 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 Jefferson SPA and July 2022 Jefferson Note: ● The July 2022 Jefferson Note matures on September 14, 2022 ● At its election, Jefferson may convert the July 2022 Jefferson Note into the Company’s common stock, subject to the Beneficial Ownership Limitations, at any time after 180 days from the date of issuance of the July 2022 Jefferson Note at a conversion price equal to $ 0.10 ● The Company agrees to pay interest on the July 2022 Jefferson Principal Sum at the rate of 12 ● The July 2022 Jefferson Note carries an original issue discount of $ 2,500 ● The July 2022 Jefferson Note contains the Standard Prepayment Terms and Standard Default Terms. Upon issuance of the July 2022 Jefferson Note, the Company received net proceeds of $ 25,000 25,000 Upon the issuance of the September 2022 FirstFire Note, September 2022 Ionic Note, and September 2022 Jefferson Note described below, the conversion price of the July 2022 Jefferson Note was further reduced from $ 0.10 0.02 0.02 0.0175 During the three and nine months ended February 28, 2023, the Company recorded interest expense of $ 814 8,521 0 6,461 814 2,060 As of February 28, 2023, the carrying value of the July 2022 Jefferson Note was $ 27,500 September 2022 FirstFire Global 12% Convertible Promissory Note On September 8, 2022, the Company entered into a securities purchase agreement (the “September 2022 FirstFire SPA”) with FirstFire, pursuant to which the Company issued (i) a 12 66,000 120,000 1.00 The following are the material terms of the September 2022 FirstFire SPA and September 2022 FirstFire Note: ● The September 2022 FirstFire Note matures on January 8, 2023 ● At its election, FirstFire may convert the September 2022 FirstFire Note into the Company’s common stock, subject to the Beneficial Ownership Limitations, at any time at a conversion price equal to $ 0.02 ● The Company agrees to pay interest on the September 2022 FirstFire Principal Sum at the rate of 12 ● The September 2022 FirstFire Note carries an original issue discount of $ 6,000 ● The September 2022 FirstFire Note contains the Standard Prepayment Terms and Standard Default Terms. Upon issuance of the September 2022 FirstFire Note, the Company received net proceeds of $ 60,000 60,000 57,756 2,244 66,000 Upon the issuance of the January 2023 FirstFire Note and January 2023 Ionic Note, the conversion price of the September 2022 FirstFire Note was reduced from $ 0.02 0.0175 During the three and nine months ended February 28, 2023, the Company recorded interest expense of $ 22,205 69,747 21,098 66,000 1,107 3,747 As of February 28, 2023, the carrying value of the September 2022 FirstFire Note was $ 66,000 September 2022 Ionic Ventures, LLC 12% Convertible Promissory Note On September 8, 2022, the Company entered into a securities purchase agreement (the “September 2022 Ionic SPA”) with Ionic, pursuant to which the Company issued (i) a 12 66,000 three 120,000 1.00 The following are the material terms of the September 2022 Ionic SPA and September 2022 Ionic Note: ● The September 2022 Ionic Note matures on January 8, 2023 ● At its election, Ionic may convert the September 2022 Ionic Note into the Company’s common stock, subject to the Beneficial Ownership Limitations, at any time at a conversion price equal to $ 0.02 ● The Company agrees to pay interest on the September 2022 Ionic Principal Sum at the rate of 12 ● The September 2022 Ionic Note carries an original issue discount of $ 6,000 ● The September 2022 Ionic Note contains the Standard Prepayment Terms and Standard Default Terms. Upon issuance of the September 2022 Ionic Note, the Company received net proceeds of $ 60,000 60,000 57,756 2,244 66,000 Upon the issuance of the January 2023 FirstFire Note and January 2023 Ionic Note, the conversion price of the September 2022 Ionic Note was reduced from $ 0.02 0.0175 During the three and nine months ended February 28, 2023, the Company recorded interest expense of $ 22,205 69,747 21,098 66,000 1,107 3,747 As of February 28, 2023, the carrying value of the September 2022 Ionic Note was $ 66,000 September 2022 Jefferson Street Capital LLC 12% Convertible Promissory Note On September 8, 2022, the Company entered into a securities purchase agreement (the “September 2022 Jefferson SPA”) with Jefferson, pursuant to which the Company issued (i) a 12 27,500 three 45,454 1.00 The following are the material terms of the September 2022 Jefferson SPA and September 2022 Jefferson Note: ● The September 2022 Jefferson Note matures on January 8, 2023 ● At its election, Jefferson may convert the September 2022 Jefferson Note into the Company’s common stock, subject to the Beneficial Ownership Limitations, at any time at a conversion price equal to $ 0.02 ● The Company agrees to pay interest on the September 2022 Jefferson Principal Sum at the rate of 12 ● The September 2022 Jefferson Note carries an original issue discount of $ 2,500 ● The September 2022 Jefferson Note contains the Standard Prepayment Terms and Standard Default Terms. Upon issuance of the September 2022 Jefferson Note, the Company received net pro |
STOCKHOLDERS_ EQUITY
STOCKHOLDERS’ EQUITY | 9 Months Ended |
Feb. 28, 2023 | |
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 As of February 28, 2023, the Company is authorized to issue 250,000,000 0.0001 On September 1, 2022, the Board and stockholders holding 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 On December 16, 2022, the Company filed a definitive information statement on Schedule 14C relating to the Amendment. The exact timing of the authorized share increase will be determined by the Company’s Board based on its evaluation as to when such action will be the most advantageous to the Company and its stockholders, and the effective date will be publicly announced. In no event will the authorized share increase be effective sooner than 20 days after the Company mails the definitive information statement on Schedule 14C and accompanying notice to the Company’s stockholders. The Board retains the authority to abandon the increase in authorized shares for any reason at any time prior to the effective date of the increase in authorized shares. On January 20, 2023, the Company filed the Amendment to its Certificate of Incorporation, as amended, with the Secretary of State of the State of Delaware to increase the Company’s authorized shares of Common Stock from 36,000,000 250,000,000 250,000,000 1,000,000 0.0001 As of February 28, 2023, and May 31, 2022, there were 21,686,369 1,830,818 Issuances Related to Officers, Directors, and Third-Party Vendors: ● On June 1, 2022, the Company issued 100,000 1.22 100,000 22,000 ● On June 24, 2022, the Company issued 1,667 2.81 316 ● On June 24, 2022, the Company issued 3,571 1.35 179 ● On June 30, 2022, the Company issued 100,000 0.47 50,000 3,000 ● On August 4, 2022, the Company issued 100,000 0.12 5,000 7,000 ● On August 30, 2022, the Company issued 112,000 0.06 5,000 1,720 ● On September 29, 2022, the Company issued 160,000 0.162 25,000 872 ● On November 10, 2022, the Company issued 340,000 0.043 6,800 7,650 Issuances Related to Conversions of March 2021 FirstFire Note: ● On July 27, 2022, the Company issued 95,000 0.13 9,500 2,850 ● On September 29, 2022, the Company issued 150,000 0.162 3,000 21,255 ● On October 3, 2022, the Company issued 200,000 0.092 4,000 14,440 ● On October 6, 2022, the Company issued 248,000 0.037 4,960 4,156 ● On November 10, 2022, the Company issued 358,000 0.043 7,160 8,055 ● On December 5, 2022, the Company issued 490,000 0.024 9,800 1,911 ● On December 6, 2022, the Company issued 525,000 0.023 10,500 1,554 ● On December 13, 2022, the Company issued 540,000 0.016 10,800 1,998 ● On December 15, 2022, the Company issued 600,000 0.038 12,000 10,992 ● On December 20, 2022, the Company issued 600,000 0.020 12,000 300 ● On January 3, 2023, the Company issued 925,000 0.013 18,500 6,133 Issuances Related to Conversions of June 2021 GS Note: ● On July 18, 2022, the Company issued 599,350 0.19 53,000 6,935 53,942 Issuances Related to Conversions of August 2021 Jefferson Note: ● On August 23, 2022, the Company issued 110,000 0.075 10,000 1,000 2,750 ● On September 29, 2022, the Company issued 150,000 0.162 2,000 1,000 21,255 ● On October 9, 2022, the Company issued 290,000 0.036 4,800 1,000 4,640 ● On October 11, 2022, the Company issued 380,000 0.042 6,600 1,000 8,360 ● On December 1, 2022, the Company issued 460,000 0.025 8,200 1,000 2,254 ● On December 5, 2022, the Company issued 475,000 0.024 8,500 1,000 1,853 ● On December 7, 2022, the Company issued 525,000 0.029 9,500 1,000 4,463 ● On December 12, 2022, the Company issued 600,000 0.016 11,000 1,000 2,400 ● On December 21, 2022, the Company issued 550,000 0.018 10,000 1,000 990 ● On January 24, 2023, the Company issued 810,208 0.017 15,204 1,000 2,431 Issuances Related to Conversions of September 2021 Ionic Note: ● On July 28, 2022, the Company issued 67,755 0.13 6,776 2,033 ● On September 2, 2022, the Company completed the issuance of 150,000 15,000 0.07 4,500 ● On September 10, 2022, the Company issued 155,000 0.05 3,100 4,650 ● On September 27, 2022, the Company issued 160,000 0.03 3,200 1,600 ● On September 29, 2022, the Company issued 160,000 0.162 3,200 22,672 ● On September 30, 2022, the Company issued 400,000 0.13 8,000 44,000 ● On October 3, 2022, the Company issued 440,000 0.092 8,800 31,768 ● On October 5, 2022, the Company issued 265,000 0.044 5,300 6,360 ● On October 6, 2022, the Company issued 265,000 0.037 5,300 4,441 ● On October 7, 2022, the Company issued 265,000 0.036 5,300 4,240 ● On October 24, 2022, the Company issued 340,000 0.027 6,800 2,210 ● On November 7, 2022, the Company issued 360,000 0.022 7,200 720 ● On November 10, 2022, the Company issued 380,000 0.043 7,600 8,550 ● On November 11, 2022, the Company issued 385,000 0.038 7,700 6,911 ● On November 17, 2022, the Company issued 455,000 0.028 9,100 3,640 ● On December 1, 2022, the Company issued 500,000 0.015 10,000 2,275 ● On December 12, 2022, the Company issued 625,000 0.016 12,500 2,500 ● On December 15, 2022, the Company issued 650,000 0.038 13,000 11,908 ● On December 19, 2022, the Company issued 655,000 0.019 13,100 655 ● On December 23, 2022, the Company issued 655,000 0.016 13,100 2,751 ● On December 28, 2022, the Company issued 900,000 0.014 18,000 5,400 ● On January 4, 2023, the Company issued 1,025,000 0.014 20,500 5,945 Warrants As of February 28, 2023, the Company has issued and outstanding warrants to purchase shares of its Common Stock as follows: SCHEDULE OF ISSUED AND OUTSTANDING WARRANTS TO PURCHASE SHARES 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 $ 0.0175 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 $ 0.0175 8/31/2021 187,480 8/31/2021 8/31/2024 $ 0.0175 9/17/2021 40,000 9/17/2021 9/17/2024 $ 0.0175 9/28/2021 729,167 9/28/2021 9/28/2024 $ 0.0175 10/1/2021 40,000 10/1/2021 10/1/2024 $ 0.0175 11/18/2021 48,000 11/18/2021 11/18/2024 $ 0.0175 3/21/2022 137,500 3/21/2022 3/21/2025 $ 0.0175 4/1/2022 37,500 4/1/2022 4/1/2025 $ 0.0175 7/14/2022 200,000 7/14/2022 7/14/2025 $ 0.0175 9/8/2022 285,454 9/8/2022 9/8/2025 $ 0.0175 9/13/2022 18,000 9/8/2022 9/13/2025 $ 0.0175 3,900,477 During the three and nine months ended February 28, 2023, the Company issued zero 503,454 1.00 0 134 147 3.16 3.75 3.0 During the three and nine months ended February 28, 2022, the Company issued to accredited investors in association with issued, amended, or extinguished debt instruments zero 2,315,897 During the three and nine months ended February 28, 2022, the Company sold zero 100,000 100,000 100,000 20.00 Stock-Based Compensation The Company did not grant any options to purchase its common shares during the nine months ended February 28, 2023. During the nine months ended February 28, 2022, the Company granted 275,000 The table below presents option activity for the nine months ended February 28, 2023: SCHEDULE OF OPTION ACTIVITY 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 2.93 Options exercised - - - Options granted - - - Options expired - - - Options forfeited (72,500 ) 2.77 2.68 Outstanding at February 28, 2023 390,000 2.77 2.18 Exercisable at February 28, 2023 390,000 2.77 2.18 Stock based compensation expense related to options for the three months ended February 28, 2023, and 2022, amounted to $ 0 183,361 32,976 550,082 0 0 |
DERIVATIVE LIABILITY
DERIVATIVE LIABILITY | 9 Months Ended |
Feb. 28, 2023 | |
Derivative Liability | |
DERIVATIVE LIABILITY | NOTE 10 — DERIVATIVE LIABILITY Upon the issuance of the September 2022 FirstFire Note, September 2022 Ionic Note, and September 2022 Jefferson Note described above, the conversion price of certain equity-linked instruments decreased to $ 0.02 For the convertible promissory notes, the Company assessed whether, at inception, the convertible promissory note contained a debt discount equal to or less than the original principal value of the instrument. In such cases where the original debt discount was less than the original principal value of the note, the Company recorded a new debt discount that is to be accreted over the remaining term of the note. The difference between the value of the derivative liability as described above and the debt discount, if any, is recorded to additional paid in capital. During any reporting period, any conversions of convertible promissory notes into shares of Common Stock or other issuances of Common Stock are assessed for treatment under the Sequencing Policy. At the end of the reporting period, the fair market value of the derivative liability is remeasured utilizing the Black-Scholes option-pricing model with then-current inputs. Any resulting variances in the derivative liability are recorded as a gain or loss on the measurement of the liability in the income statement. During the three months ended November 30, 2022, the Company recorded the initial derivative liability on 226,172,445 0 130.3 305.4 3.2 4.1 0.66 2.88 During the three months ended November 30, 2022, after the recording of the initial derivative liability, the Company recorded an additional derivative liability on an additional 500,000 During the three months ended November 30, 2022, the Company recorded an initial aggregate derivative liability of $ 10,832,403 52,574 10,485,603 294,227 7,389,820 3,390,009 On January 20, 2023, the Company filed the Amendment to its Certificate of Incorporation, as amended, with the Secretary of State of the State of Delaware to increase the Company’s authorized shares of Common Stock from 36,000,000 250,000,000 0.02 0.0175 During the three months ended February 28, 2023, the number of shares on which a derivative liability was required was reduced from 226,672,445 60,977,418 2,678,568 96,971 808,412 During the three and nine months ended February 28, 2023, the Company recorded $ 82,493 209,900 The table below presents the derivative liability balances as of February 28, 2023, and May 31, 2022: SCHEDULE OF DERIVATIVE LIABILITY BALANCES Derivative Liability Balance at May 31, 2022 $ - Initial derivative liability recorded in additional paid in capital 10,485,603 Derivative liability recorded as debt discount 294,226 Gain on change in fair value of derivative liability (7,389,820 ) Balance at November 30, 2022 $ 3,390,009 Adjustments to derivative liability recorded in additional paid in capital due to sequencing (2,678,568 ) Loss on change in fair value of derivative liability 96,971 Balance at February 28, 2023 $ 808,412 |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 9 Months Ended |
Feb. 28, 2023 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | NOTE 11 — SUBSEQUENT EVENTS Conversion of Convertible Promissory Notes Subsequent to the reporting period, the holders of $ 117,300 6,681,427 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 12.5 1.00 12.5 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. On December 15, 2022, the parties entered into Amendment No. 1 to Exchange Agreement (“Amendment No. 1”). Pursuant to the terms of Amendment No. 1, the termination date was amended to be February 1, 2023. Except as set forth in Amendment No. 1, the Exchange Agreement remains in full force and effect. On March 10, 2023, the parties to the Exchange Agreement entered into Amendment No. 2 to Exchange Agreement (“Amendment No. 2”). Amendment No. 2 was executed on March 10, 2023 and placed in escrow. Amendment No. 2 was released from escrow on March 28, 2023. Pursuant to the terms of Amendment No. 2, the termination date was amended to be July 14, 2023. In addition, pursuant to the terms of Amendment No. 2, the Company agreed to acquire from the Members 100 75 5 20 20 75 5 20 Except as set forth in Amendment No. 2, the Exchange Agreement, as amended, remains in full force and effect. As of the date of the filing of this Quarterly Report on Form 10-Q, the Exchange Agreement, as amended, has not been terminated. March 2023 Ionic SPA & 12% Convertible Note On March 8, 2023, the Company entered into a securities purchase agreement (the “March 2023 Ionic SPA”), dated as of March 8, 2023, with Ionic, pursuant to which the Company issued a 12 July 8, 2023 16,500 Pursuant to the terms of the March 2023 Ionic Note, the Company agreed to pay to Ionic $ 16,500 12 1,500 15,000 4.99 9.99 0.0175 The Company may prepay the March 2023 Ionic Note in accordance with the terms of the March 2023 Ionic Note, with the understanding that $ 660 Upon the occurrence of any Event of Default (as defined in the March 2023 Ionic Note), which has not been cured within the time prescribed in the respective March 2023 Ionic Note, the March Ionic 2023 Note shall become immediately due and payable and the Company shall pay to the holder thereof, in full satisfaction of its obligations thereunder, an amount equal to the principal amount then outstanding plus accrued interest multiplied by 125 March 2023 FirstFire SPA & 12% Convertible Note On March 8, 2023, the Company entered into a securities purchase agreement (the “March 2023 FirstFire SPA”), dated as of March 8, 2023, with FirstFire, pursuant to which the Company issued a 12 July 8, 2023 16,500 Pursuant to the terms of the March 2023 FirstFire Note, the Company agreed to pay to FirstFire $ 16,500 12 1,500 15,000 4.99 9.99 0.0175 The Company may prepay the March 2023 FirstFire Note in accordance with the terms of the March 2023 FirstFire Note, with the understanding that $ 660 Upon the occurrence of any Event of Default (as defined in the March 2023 FirstFire Note), which has not been cured within the time prescribed in the respective March 2023 FirstFire Note, the March FirstFire 2023 Note shall become immediately due and payable and the Company shall pay to the holder thereof, in full satisfaction of its obligations thereunder, an amount equal to the principal amount then outstanding plus accrued interest multiplied by 125 Letter Agreement with Ionic, FirstFire, Jefferson, Labrys, GS and Lucas On March 21, 2023, the Company, Ionic Ventures, LLC (“Ionic”), FirstFire Global Opportunities Fund (“FirstFire”), Jefferson Street Capital (“Jefferson”), Labrys Fund (“Labrys”), GS Capital Partners (“GS”), and Lucas Ventures & LGH Investments (“Lucas” and collectively with Ionic, FirstFire, Jefferson, Labrys and GS, the “Noteholders”) entered into a letter agreement (the “Letter Agreement”) pursuant to which the Noteholders agreed to convert their Notes into a number of shares of the Company’s common stock equal to 5 SCHEDULE OF PROMISSORY NOTES Noteholder Origination Principal and (In Dollars) FirstFire 3/21/22 120,819 FirstFire 7/14/22 29,196 FirstFire 6/10/21 1,364,167 FirstFire 3/10/21 528,847 GS 3/21/22 90,614 GS 7/14/22 29,196 GS 6/10/21 299,678 GS 9/13/22 11,440 Ionic 3/21/22 120,819 Ionic 7/14/22 29,196 Ionic 9/29/21 1,526,014 Jefferson 4/1/22 90,162 Jefferson 8/24/21 327,529 Jefferson 7/14/22 29,196 Labrys 2/19/21 1,021,697 LGH 9/2/21 248,000 Lucas 9/2/21 248,000 The following promissory notes are expressly omitted from the definition of Notes: Noteholder Origination Principal and Interest Balance (In Dollars) FirstFire 9/8/22 68,640 FirstFire 1/30/23 35,200 FirstFire 3/8/23 16,500 Ionic 9/8/22 68,640 Ionic 1/30/23 35,200 Ionic 3/8/23 16,500 Jefferson 9/8/22 28,600 Jefferson 1/30/23 35,200 Notwithstanding the terms of the Letter Agreement, the Noteholders are entitled to continue conversions from March 21, 2023 until the Closing. Any conversions that occur in accordance with the Letter Agreement will reduce the number of shares of common stock that would be issued to each Noteholder upon conversion of each of its respective Notes equal to the ratio multiplied by the Equity Percentage Shares. April 2023 SPA, Ionic Secured Convertible Note & FirstFire Secured Convertible Note On April 17, 2023, the Company entered into a securities purchase agreement (the “April 2023 SPA”), dated as of April 17, 2023, with Ionic and FirstFire, pursuant to which the Company issued (i) a 12 August 17, 2023 33,000 12 August 17, 2023 33,000 400,000 ● Convertible Promissory Note by and between the Company, as borrower, and Ionic, as holder, in the principal sum of $ 16,500 ● Convertible Promissory Note by and between the Company, as borrower, and Ionic, as holder, in the principal sum of $ 35,200 ● Convertible Promissory Note by and between the Company, as borrower, and Ionic, as holder, in the principal sum of $ 66,000 ● Convertible Promissory Note by and between the Company, as borrower, and Ionic, as holder, in the principal sum of $ 27,500 ● Convertible Promissory Note by and between the Company, as borrower, and FirstFire, as holder, in the principal sum of $ 16,500 ● Convertible Promissory Note by and between the Company, as borrower, and FirstFire, as holder, in the principal sum of $ 35,200 ● Convertible Promissory Note by and between the Company, as borrower, and FirstFire, as holder, in the principal sum of $ 66,000 ● Convertible Promissory Note by and between the Company, as borrower, and FirstFire, as holder, in the principal sum of $ 27,500 with each of Ionic and FirstFire receiving 50 10,000 Pursuant to the terms of the April 2023 Ionic Note, the Company agreed to pay to Ionic $ 33,000 12 3,000 30,000 4.99 9.99 0.0175 Pursuant to the terms of the April 2023 FirstFire Note, the Company agreed to pay to FirstFire $ 33,000 12 3,000 30,000 4.99 9.99 0.0175 The obligations of the Company under each of the April 2023 Notes are secured by security interest in certain property of the Company, namely the ERC Rebate. The Company may prepay either or both of the April 2023 Notes in accordance with the terms of the respective April 2023 Notes, with the understanding that $ 1,320 Upon the occurrence of any Event of Default (as defined in each of the April 2023 Notes), which has not been cured within the time prescribed in the respective April 2023 Notes, the respective April 2023 Note shall become immediately due and payable and the Company shall pay to the holder thereof, in full satisfaction of its obligations thereunder, an amount equal to the principal amount then outstanding plus accrued interest multiplied by 125 |
SUMMARY OF SIGNIFICANT ACCOUN_2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 9 Months Ended |
Feb. 28, 2023 | |
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 (“U.S. 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 and nine months ended February 28, 2023, 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 | Cash 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 except as noted in the Fair Value Measurement section described below. |
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 U.S. 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: |
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. As of February 28, 2023, all Company-owned stores have been sold or closed. |
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 February 28, 2023, 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 February 28, 2023: SCHEDULE OF DEFERRED REVENUES May 31, 2022 Revenue Recognized February 28, 2023 Deferred Revenue $ 180,388 $ 136,151 $ 44,237 Total $ 180,388 $ 136,151 $ 44,237 |
Accounts Receivable [Policy Text Block] | 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 $ 0 83,957 |
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 $ 0 177,177 |
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. During the nine months ended February 28, 2023, the Company performed an internal evaluation of the intangible assets which indicated impairment was required and recorded an impairment charge of approximately $ 1,007,142 |
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 February 28, 2023, five franchise locations were considered to be operational in the following states: California, Georgia, Ohio, South Carolina, and Texas. |
Stock-based Compensation | Stock-based 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, |
Usage of Authorized but Unissued Shares of Common Stock | Usage of Authorized but Unissued Shares of Common Stock As of February 28, 2023, the Company was authorized to issue 250,000,000 0.0001 36,000,000 250,000,000 250,000,000 |
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. The following table shows the computation of basic and diluted earnings per share for the three and nine months ended February 28, 2023, and 2022: SCHEDULE OF BASIC AND DILUTED EARNINGS PER SHARE February 28, 2023 February 28, 2022 February 28, 2023 February 28, 2022 Three Months ended Nine Months ended February 28, 2023 February 28, 2022 February 28, 2023 February 28, 2022 Numerator: Net (Loss) Income attributable to common shareholders $ (775,456 ) $ (1,954,652 ) $ 619,145 $ (8,294,856 ) Denominator: Weighted-average basic shares outstanding 18,761,959 1,616,022 8,975,709 1,555,722 Effect of dilutive securities - - 1,964,655 - Weighted-average diluted shares 18,761,959 1,616,022 10,940,364 1,555,722 Basic (Loss) Earnings per Share $ (0.04 ) $ (1.21 ) $ 0.07 $ (5.33 ) Diluted (Loss) Earnings per Share $ (0.04 ) $ (1.21 ) $ 0.06 $ (5.33 ) |
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. |
Fair Value Measurements | Fair Value Measurements Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. ASC 820 establishes a three-tier fair value hierarchy which prioritizes the inputs used in measuring fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1 measurements) and the lowest priority to unobservable inputs (level 3 measurements). These tiers include: ● Level 1 inputs are quoted prices in active markets for identical assets or liabilities. ● Level 2 inputs are observable for the asset or liability, either directly or indirectly, including quoted prices in active markets for similar assets or liabilities. ● Level 3 inputs are unobservable and reflect the Company’s own assumptions. Other than the derivative liability, the Company does not have a material amount of financial assets or liabilities that are required to be measured at fair value on a recurring basis under U.S. GAAP. None of the Company’s non-financial assets or non-financial liabilities are required to be measured at fair value on a recurring basis. The Company has not elected to use fair value measurement for any assets or liabilities for which fair value measurement is not presently required by U.S. GAAP. However, the Company believes the fair values of cash and cash equivalents, accounts receivable, inventory, accounts payable, and accrued liabilities approximate their carrying amounts. |
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 February 28, 2023, the Company had an accumulated deficit of $ 29,219,299 , a working capital deficit of $ 9,194,793 , net loss attributable to the common shareholders of $ 775,456 for the three months ended February 28, 2023, and net income attributable to common shareholders of $ 619,145 for the nine months ended February 28, 2023. These factors raise substantial doubt about the Company’s ability to continue as a going concern within one year from the of the date that the unaudited financial statements are issued. 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 February 28, 2023, and will potentially continue to impact the Company’s business. Management expects that all of its business 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) | 9 Months Ended |
Feb. 28, 2023 | |
Accounting Policies [Abstract] | |
SCHEDULE OF DEFERRED REVENUES | The table below summarizes Deferred Revenues as of February 28, 2023: SCHEDULE OF DEFERRED REVENUES May 31, 2022 Revenue Recognized February 28, 2023 Deferred Revenue $ 180,388 $ 136,151 $ 44,237 Total $ 180,388 $ 136,151 $ 44,237 |
SCHEDULE OF BASIC AND DILUTED EARNINGS PER SHARE | SCHEDULE OF BASIC AND DILUTED EARNINGS PER SHARE February 28, 2023 February 28, 2022 February 28, 2023 February 28, 2022 Three Months ended Nine Months ended February 28, 2023 February 28, 2022 February 28, 2023 February 28, 2022 Numerator: Net (Loss) Income attributable to common shareholders $ (775,456 ) $ (1,954,652 ) $ 619,145 $ (8,294,856 ) Denominator: Weighted-average basic shares outstanding 18,761,959 1,616,022 8,975,709 1,555,722 Effect of dilutive securities - - 1,964,655 - Weighted-average diluted shares 18,761,959 1,616,022 10,940,364 1,555,722 Basic (Loss) Earnings per Share $ (0.04 ) $ (1.21 ) $ 0.07 $ (5.33 ) Diluted (Loss) Earnings per Share $ (0.04 ) $ (1.21 ) $ 0.06 $ (5.33 ) |
PROPERTY AND EQUIPMENT (Tables)
PROPERTY AND EQUIPMENT (Tables) | 9 Months Ended |
Feb. 28, 2023 | |
Property, Plant and Equipment [Abstract] | |
SCHEDULE OF PROPERTY AND EQUIPMENT | The following is a summary of property and equipment—at cost, less accumulated depreciation: SCHEDULE OF PROPERTY AND EQUIPMENT February 28, 2023 May 31, 2022 Leasehold improvements $ - $ 50,891 Property and equipment 21,287 477,812 Total cost 21,287 528,793 Less accumulated depreciation (17,692 ) (333,591 ) Net property and equipment $ 3,595 $ 195,202 |
INTANGIBLE ASSETS (Tables)
INTANGIBLE ASSETS (Tables) | 9 Months Ended |
Feb. 28, 2023 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
SCHEDULE OF INTANGIBLE ASSETS | The following table sets forth the intangible assets, including accumulated amortization as of February 28, 2023: SCHEDULE OF INTANGIBLE ASSETS February 28, 2023 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 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 As of February 28, 2023 As of 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) | 9 Months Ended |
Feb. 28, 2023 | |
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 February 28, 2023: SUMMARIZES OF RIGHT OF USE ASSET AND LEASE LIABILITY Right-of-use Asset, net $ - Lease Liability Current $ 1,167,601 Long Term - Total $ 1,167,601 |
SCHEDULE OF FUTURE MINIMUM LEASE PAYMENTS | The following table summarizes the Company’s scheduled future minimum lease payments as of February 28, 2023: SCHEDULE OF FUTURE MINIMUM LEASE PAYMENTS 2023 $ 133,743 2024 452,511 2025 405,795 2026 321,952 2027 and beyond 47,500 Total Operating Lease Obligations $ 1,361,501 Less: Amount representing imputed interest (193,900 ) Present value of minimum lease payments $ 1,167,601 Less current portion 1,167,601 Long term portion $ - |
DEBT (Tables)
DEBT (Tables) | 9 Months Ended |
Feb. 28, 2023 | |
Debt Disclosure [Abstract] | |
SCHEDULE OF OUTSTANDING DEBT BALANCES | The table below presents the Company’s outstanding debt balances as of February 28, 2023, 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 41,735 Principal Borrowings 386,100 - - - Repayments - (6,922 ) (247,818 ) - Conversions (443,600 ) - - - Totals $ (57,500 ) $ (6,922 ) $ (247,818 ) $ - Unamortized Debt Issuance Costs, Beneficial Conversion Feature, and Warrant Discount Beginning Balance $ (2,267,952 ) $ (137,136 ) $ - $ - Additions (532,169 ) - - - Accretion 2,011,464 20,717 - - Ending Balance $ (788,657 ) $ (116,419 ) $ - $ - Principal Balance as of February 28, 2023 $ 5,303,847 $ 199,850 $ - $ 41,735 Carrying Value as of February 28, 2023 4,515,190 83,431 - 41,735 Less Short-Term Portion 4,515,190 - - 41,735 Long Term Portion $ - $ 83,431 $ - $ - |
SCHEDULE OF PRINCIPAL MATURITIES OF OUTSTANDING DEBT | Scheduled principal maturities of the Company’s outstanding debt over the next five fiscal years are as follows: SCHEDULE OF PRINCIPAL MATURITIES OF OUTSTANDING DEBT Fiscal year ending May 31, 2023 $ 1,230,009 2024 4,164,971 2025 44,193 2026 48,820 2027 57,439 Thereafter - Outstanding Debt $ 5,545,432 |
STOCKHOLDERS_ EQUITY (Tables)
STOCKHOLDERS’ EQUITY (Tables) | 9 Months Ended |
Feb. 28, 2023 | |
Equity [Abstract] | |
SCHEDULE OF ISSUED AND OUTSTANDING WARRANTS TO PURCHASE SHARES | As of February 28, 2023, the Company has issued and outstanding warrants to purchase shares of its Common Stock as follows: SCHEDULE OF ISSUED AND OUTSTANDING WARRANTS TO PURCHASE SHARES 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 $ 0.0175 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 $ 0.0175 8/31/2021 187,480 8/31/2021 8/31/2024 $ 0.0175 9/17/2021 40,000 9/17/2021 9/17/2024 $ 0.0175 9/28/2021 729,167 9/28/2021 9/28/2024 $ 0.0175 10/1/2021 40,000 10/1/2021 10/1/2024 $ 0.0175 11/18/2021 48,000 11/18/2021 11/18/2024 $ 0.0175 3/21/2022 137,500 3/21/2022 3/21/2025 $ 0.0175 4/1/2022 37,500 4/1/2022 4/1/2025 $ 0.0175 7/14/2022 200,000 7/14/2022 7/14/2025 $ 0.0175 9/8/2022 285,454 9/8/2022 9/8/2025 $ 0.0175 9/13/2022 18,000 9/8/2022 9/13/2025 $ 0.0175 3,900,477 |
SCHEDULE OF OPTION ACTIVITY | The table below presents option activity for the nine months ended February 28, 2023: SCHEDULE OF OPTION ACTIVITY 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 2.93 Options exercised - - - Options granted - - - Options expired - - - Options forfeited (72,500 ) 2.77 2.68 Outstanding at February 28, 2023 390,000 2.77 2.18 Exercisable at February 28, 2023 390,000 2.77 2.18 |
DERIVATIVE LIABILITY (Tables)
DERIVATIVE LIABILITY (Tables) | 9 Months Ended |
Feb. 28, 2023 | |
Derivative Liability | |
SCHEDULE OF DERIVATIVE LIABILITY BALANCES | The table below presents the derivative liability balances as of February 28, 2023, and May 31, 2022: SCHEDULE OF DERIVATIVE LIABILITY BALANCES Derivative Liability Balance at May 31, 2022 $ - Initial derivative liability recorded in additional paid in capital 10,485,603 Derivative liability recorded as debt discount 294,226 Gain on change in fair value of derivative liability (7,389,820 ) Balance at November 30, 2022 $ 3,390,009 Adjustments to derivative liability recorded in additional paid in capital due to sequencing (2,678,568 ) Loss on change in fair value of derivative liability 96,971 Balance at February 28, 2023 $ 808,412 |
SUBSEQUENT EVENTS (Tables)
SUBSEQUENT EVENTS (Tables) | 9 Months Ended |
Feb. 28, 2023 | |
Subsequent Events [Abstract] | |
SCHEDULE OF PROMISSORY NOTES | SCHEDULE OF PROMISSORY NOTES Noteholder Origination Principal and (In Dollars) FirstFire 3/21/22 120,819 FirstFire 7/14/22 29,196 FirstFire 6/10/21 1,364,167 FirstFire 3/10/21 528,847 GS 3/21/22 90,614 GS 7/14/22 29,196 GS 6/10/21 299,678 GS 9/13/22 11,440 Ionic 3/21/22 120,819 Ionic 7/14/22 29,196 Ionic 9/29/21 1,526,014 Jefferson 4/1/22 90,162 Jefferson 8/24/21 327,529 Jefferson 7/14/22 29,196 Labrys 2/19/21 1,021,697 LGH 9/2/21 248,000 Lucas 9/2/21 248,000 The following promissory notes are expressly omitted from the definition of Notes: Noteholder Origination Principal and Interest Balance (In Dollars) FirstFire 9/8/22 68,640 FirstFire 1/30/23 35,200 FirstFire 3/8/23 16,500 Ionic 9/8/22 68,640 Ionic 1/30/23 35,200 Ionic 3/8/23 16,500 Jefferson 9/8/22 28,600 Jefferson 1/30/23 35,200 |
SCHEDULE OF DEFERRED REVENUES (
SCHEDULE OF DEFERRED REVENUES (Details) - USD ($) | Feb. 28, 2023 | May 31, 2022 |
Deferred Revenue | $ 44,237 | $ 180,388 |
Total | 44,237 | $ 180,388 |
Revenue Recognized [Member] | ||
Deferred Revenue | 136,151 | |
Total | $ 136,151 |
SCHEDULE OF BASIC AND DILUTED E
SCHEDULE OF BASIC AND DILUTED EARNINGS PER SHARE (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||||||
Feb. 28, 2023 | Nov. 30, 2022 | Aug. 31, 2022 | Feb. 28, 2022 | Nov. 30, 2021 | Aug. 31, 2021 | Feb. 28, 2023 | Feb. 28, 2022 | |
Accounting Policies [Abstract] | ||||||||
Net (Loss) Income attributable to common shareholders | $ (775,456) | $ 5,551,711 | $ (4,157,110) | $ (1,954,652) | $ (2,129,297) | $ (4,210,907) | $ 619,145 | $ (8,294,856) |
Weighted-average basic shares outstanding | 18,761,959 | 1,616,022 | 8,975,709 | 1,555,722 | ||||
Effect of dilutive securities | 1,964,655 | |||||||
Weighted-average diluted shares | 18,761,959 | 1,616,022 | 10,940,364 | 1,555,722 | ||||
Basic (Loss) Earnings per Share | $ (0.04) | $ (1.21) | $ 0.07 | $ (5.33) | ||||
Diluted (Loss) Earnings per Share | $ (0.04) | $ (1.21) | $ 0.06 | $ (5.33) |
SUMMARY OF SIGNIFICANT ACCOUN_4
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($) | 3 Months Ended | 9 Months Ended | ||||||||||
Feb. 28, 2023 | Nov. 30, 2022 | Aug. 31, 2022 | Feb. 28, 2022 | Nov. 30, 2021 | Aug. 31, 2021 | Feb. 28, 2023 | Feb. 28, 2022 | Jan. 20, 2023 | Jan. 19, 2023 | Sep. 01, 2022 | May 31, 2022 | |
Product Information [Line Items] | ||||||||||||
Cash equivalents | $ 0 | $ 0 | ||||||||||
Federal depository insurance coverage | 250,000 | 250,000 | ||||||||||
Allowance for doubtful accounts receivable | 68,879 | 68,879 | $ 39,000 | |||||||||
Inventory impairment | 0 | 83,957 | ||||||||||
Impairment of property and equipment | 0 | 177,177 | ||||||||||
Impairment of intangible assets | 1,007,142 | $ 0 | ||||||||||
Good will impairment charge | $ 0 | $ 1,472,884 | $ 0 | $ 1,472,884 | 0 | |||||||
Common stock authorized to issue | 250,000,000 | 250,000,000 | ||||||||||
Common stock, par value | $ 0.0001 | $ 0.0001 | $ 0.0001 | |||||||||
Common stock, authorized | 250,000,000 | 250,000,000 | 250,000,000 | 36,000,000 | 250,000,000 | |||||||
Accumulated deficit | $ 29,219,299 | $ 29,219,299 | $ 29,838,444 | |||||||||
Working capital deficit | 9,194,793 | 9,194,793 | ||||||||||
Net income loss | 775,456 | $ (5,551,711) | 4,157,110 | 1,954,652 | $ 2,129,297 | $ 4,210,907 | (619,145) | 8,294,856 | ||||
Net income loss | $ (775,456) | $ 5,551,711 | $ (4,157,110) | $ (1,954,652) | $ (2,129,297) | $ (4,210,907) | $ 619,145 | $ (8,294,856) | ||||
Minimum [Member] | ||||||||||||
Product Information [Line Items] | ||||||||||||
Finite-lived intangible asset, useful life | 3 years | 3 years | ||||||||||
Property plant and equipment useful lives | 3 years | 3 years | ||||||||||
Common stock, authorized | 36,000,000 | 36,000,000 | ||||||||||
Maximum [Member] | ||||||||||||
Product Information [Line Items] | ||||||||||||
Finite-lived intangible asset, useful life | 5 years | 5 years | ||||||||||
Property plant and equipment useful lives | 5 years | 5 years | ||||||||||
Common stock, authorized | 250,000,000 | 250,000,000 | ||||||||||
Franchise [Member] | ||||||||||||
Product Information [Line Items] | ||||||||||||
Finite-lived intangible asset, useful life | 10 years | 10 years | ||||||||||
Simplicity One Brasil Ltda [Member] | ||||||||||||
Product Information [Line Items] | ||||||||||||
Equity method investment, ownership percentage | 59% | 59% | ||||||||||
Simplicity Happy Valley, LLC and Simplicity Redmond, LLC [Member] | ||||||||||||
Product Information [Line Items] | ||||||||||||
Equity method investment, ownership percentage | 79% | 79% | ||||||||||
Simplicity El Paso LLC [Member] | ||||||||||||
Product Information [Line Items] | ||||||||||||
Equity method investment, ownership percentage | 51% | 51% |
DISPOSITIONS (Details Narrative
DISPOSITIONS (Details Narrative) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Feb. 28, 2023 | Feb. 28, 2023 | Nov. 09, 2022 | Aug. 31, 2022 | Jun. 10, 2022 | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||
Value of license disposition | $ 391,776 | ||||
Value of license account receivable | $ 391,776 | ||||
Gain on disposal license | $ 154,348 | $ 240,924 | |||
Asset purchase agreement | 185,000 | ||||
Amount payable during execution of agreement | 175,000 | ||||
Final installment | $ 10,000 | ||||
Net payments to minority interest holders | $ 0 | $ 44,100 | |||
Brazil Assets [Member] | |||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||
Disposal of assets | 53,606 | 199,231 | |||
Other receivable | 192,545 | 192,545 | |||
Fort Bliss Assets [Member] | |||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||
Disposal of assets | $ 0 | $ 128,632 |
SCHEDULE OF PROPERTY AND EQUIPM
SCHEDULE OF PROPERTY AND EQUIPMENT (Details) - USD ($) | Feb. 28, 2023 | May 31, 2022 |
Property, Plant and Equipment [Line Items] | ||
Total cost | $ 21,287 | $ 528,793 |
Less accumulated depreciation | (17,692) | (333,591) |
Net property and equipment | 3,595 | 195,202 |
Leasehold Improvements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Total cost | 50,891 | |
Property, Plant and Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Total cost | $ 21,287 | $ 477,812 |
PROPERTY AND EQUIPMENT (Details
PROPERTY AND EQUIPMENT (Details Narrative) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Feb. 28, 2023 | Feb. 28, 2022 | Feb. 28, 2023 | Feb. 28, 2022 | |
Property, Plant and Equipment [Abstract] | ||||
Depreciation | $ 132 | $ 80,164 | $ 19,723 | $ 245,817 |
Impairment of property and equipment | $ 0 | $ 0 | $ 177,177 | $ 0 |
SCHEDULE OF INTANGIBLE ASSETS (
SCHEDULE OF INTANGIBLE ASSETS (Details) - USD ($) | 12 Months Ended | |
May 31, 2022 | Feb. 28, 2023 | |
Finite-Lived Intangible Assets [Line Items] | ||
Intangible assets, gross | $ 1,201,563 | $ 3,000 |
Intangible assets, accumulated amortization | 194,421 | 3,000 |
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 GOODWILL (Details)
SCHEDULE OF GOODWILL (Details) - USD ($) | Feb. 28, 2023 | May 31, 2022 |
Restructuring Cost and Reserve [Line Items] | ||
Total Goodwill | $ 1,472,884 | |
Simplicity Esports LLC [Member] | ||
Restructuring Cost and Reserve [Line Items] | ||
Total Goodwill | 1,034,662 | |
PLAY 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 | 9 Months Ended | |||
Feb. 28, 2023 | Aug. 31, 2022 | Feb. 28, 2022 | Feb. 28, 2023 | Feb. 28, 2022 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |||||
Intangible asset impairment loss | $ 0 | $ 0 | |||
Impairment expense | $ 1,007,142 | $ 0 | |||
Amortization expense | 0 | 73,494 | 333 | 221,910 | |
Goodwill impairment | $ 0 | $ 1,472,884 | $ 0 | $ 1,472,884 | $ 0 |
RELATED PARTY TRANSACTIONS (Det
RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($) | 3 Months Ended | 9 Months Ended | |||||||||
Aug. 29, 2022 | Dec. 10, 2021 | Feb. 28, 2023 | Nov. 30, 2022 | Aug. 31, 2022 | Feb. 28, 2022 | Aug. 31, 2021 | Feb. 28, 2023 | Feb. 28, 2022 | Aug. 23, 2022 | Jun. 10, 2022 | |
Purchase price of shares | $ 850,775 | ||||||||||
Share based compensation | $ 165,179 | $ 1,407,175 | |||||||||
Common Stock [Member] | |||||||||||
Purchase price of shares | |||||||||||
Conversion of shares | 12,110,208 | 5,956,000 | 872,105 | ||||||||
Series X Preferred Stock [Member] | |||||||||||
Redemption price per share | $ 1 | ||||||||||
Purchase price of shares | $ 1,000 | ||||||||||
Purchase price of shares | $ 1,000 | ||||||||||
Series X Preferred Stock [Member] | Common Stock [Member] | |||||||||||
Conversion of shares | 500,000,000 | ||||||||||
Estimated fair market value | $ 183,498 | ||||||||||
Share based compensation | 182,498 | ||||||||||
Purchase price of shares | $ 1,000 | ||||||||||
Kaplan Promissory Note [Member] | Jed Kaplan [Member] | |||||||||||
Debt instrument, face amount | $ 247,818 | ||||||||||
Interest rate | 5% | ||||||||||
Maturity date | Jun. 10, 2022 | ||||||||||
Accrued interest | $ 6,178 | ||||||||||
Interest expense | $ 0 | 339 | |||||||||
Interest expenses | $ 0 | $ 2,716 | $ 339 | $ 2,716 |
SUMMARIZES OF RIGHT OF USE ASSE
SUMMARIZES OF RIGHT OF USE ASSET AND LEASE LIABILITY (Details) - USD ($) | Feb. 28, 2023 | May 31, 2022 |
Commitments and Contingencies Disclosure [Abstract] | ||
Right-of-use Asset, net | $ 532,216 | |
Lease Liability | ||
Current | 1,167,601 | 332,519 |
Long Term | $ 1,092,627 | |
Total | $ 1,167,601 |
SCHEDULE OF FUTURE MINIMUM LEAS
SCHEDULE OF FUTURE MINIMUM LEASE PAYMENTS (Details) - USD ($) | Feb. 28, 2023 | May 31, 2022 |
Commitments and Contingencies Disclosure [Abstract] | ||
2023 | $ 133,743 | |
2024 | 452,511 | |
2025 | 405,795 | |
2026 | 321,952 | |
2027 and beyond | 47,500 | |
Total Operating Lease Obligations | 1,361,501 | |
Less: Amount representing imputed interest | (193,900) | |
Present value of minimum lease payments | 1,167,601 | |
Less current portion | 1,167,601 | $ 332,519 |
Long term portion | $ 1,092,627 |
COMMITMENTS AND CONTINGENCIES_2
COMMITMENTS AND CONTINGENCIES (Details Narrative) - USD ($) | 9 Months Ended | 12 Months Ended | ||||
May 17, 2021 | Mar. 29, 2021 | Feb. 28, 2023 | May 31, 2020 | May 31, 2022 | Jul. 29, 2020 | |
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | ||||||
Operating lease impairment loss | $ 518,295 | |||||
Weighted average remaining lease terms | 2 years 7 months 6 days | 3 years 7 months 6 days | ||||
Weighted average discount rate percentage | 12% | 12% | ||||
Related Party [Member] | ||||||
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | ||||||
Due to Related Parties, Current | $ 247,818 | |||||
Jed Kaplan [Member] | ||||||
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | ||||||
Cash bonus | $ 75,000 | |||||
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture | 250,000 | |||||
Due to Related Parties, Current | 35,000 | |||||
Salary and wage | $ 4,000 | |||||
Roman Franklin [Member] | ||||||
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | ||||||
Cash bonus | $ 75,000 | |||||
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture | 250,000 | |||||
Roman Franklin [Member] | Related Party [Member] | ||||||
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | ||||||
Due to Related Parties, Current | $ 35,000 | |||||
Chief Executive Officer [Member] | Franklin Employment Agreement [Member] | ||||||
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | ||||||
Officers compensation | 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] | ||||||
Officers compensation | $ 140,000 | |||||
Maximum quarterly bonus amount | 12,500 | |||||
Share-Based compensation of equity grant | $ 5,000 | |||||
Employment agreement description | Ms. Hennessey was also eligible to receive a quarterly bonus of up to $12,500 in the form of a cash bonus and/or equity grant of shares of the Company’s common stock. Pursuant to the terms of the Hennessey Employment Agreement, Ms. Hennessey was also to receive (i) 5,000 shares of common stock upon filing of the 2021 Annual Report on Form 10-K, if completed before July 31, 2021, and (ii) 5,000 shares of common stock upon completion of an uplisting to a national exchange, such as The Nasdaq Stock Market or the NYSE American. |
SCHEDULE OF OUTSTANDING DEBT BA
SCHEDULE OF OUTSTANDING DEBT BALANCES (Details) - USD ($) | 9 Months Ended |
Feb. 28, 2023 | |
Short-Term Debt [Line Items] | |
Principal Balance as of May 31, 2022 | |
Principal Balance as of February 28, 2023 | $ 5,545,432 |
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 | 386,100 |
Repayments | |
Conversions | (443,600) |
Totals | (57,500) |
Beginning Balance | (2,267,952) |
Additions | (532,169) |
Accretion | 2,011,464 |
Ending Balance | (788,657) |
Principal Balance as of February 28, 2023 | 5,303,847 |
Carrying Value as of February 28, 2023 | 4,515,190 |
Less Short-Term Portion | 4,515,190 |
Long Term Portion | |
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 | 20,717 |
Ending Balance | (116,419) |
Principal Balance as of February 28, 2023 | 199,850 |
Carrying Value as of February 28, 2023 | 83,431 |
Less Short-Term Portion | |
Long Term Portion | 83,431 |
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 February 28, 2023 | |
Carrying Value as of February 28, 2023 | |
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 | 41,735 |
Borrowings | |
Repayments | |
Conversions | |
Totals | |
Beginning Balance | |
Additions | |
Accretion | |
Ending Balance | |
Principal Balance as of February 28, 2023 | 41,735 |
Carrying Value as of February 28, 2023 | 41,735 |
Less Short-Term Portion | 41,735 |
Long Term Portion |
SCHEDULE OF PRINCIPAL MATURITIE
SCHEDULE OF PRINCIPAL MATURITIES OF OUTSTANDING DEBT (Details) | Feb. 28, 2023 USD ($) |
Debt Disclosure [Abstract] | |
2023 | $ 1,230,009 |
2024 | 4,164,971 |
2025 | 44,193 |
2026 | 48,820 |
2027 | 57,439 |
Thereafter | |
Outstanding Debt | $ 5,545,432 |
DEBT (Details Narrative)
DEBT (Details Narrative) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||||||||||||||||||||||
Feb. 03, 2023 | Jan. 30, 2023 | Nov. 18, 2022 | Sep. 13, 2022 | Sep. 08, 2022 | Jul. 14, 2022 | Jul. 13, 2022 | Apr. 02, 2022 | Mar. 21, 2022 | Dec. 10, 2021 | Nov. 18, 2021 | Nov. 15, 2021 | Sep. 28, 2021 | Aug. 31, 2021 | Aug. 23, 2021 | Jun. 16, 2021 | Jun. 11, 2021 | Mar. 10, 2021 | Feb. 19, 2021 | Feb. 28, 2023 | Nov. 30, 2022 | Aug. 31, 2022 | Feb. 28, 2022 | Feb. 28, 2023 | Feb. 28, 2022 | May 31, 2022 | May 31, 2020 | Jan. 31, 2023 | Sep. 30, 2022 | Jul. 31, 2022 | Jun. 10, 2022 | Apr. 30, 2022 | Mar. 31, 2022 | Mar. 16, 2022 | |
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||
Losses on extinguishment of debt | $ (1,157) | $ (276,655) | $ (1,730,801) | |||||||||||||||||||||||||||||||
Debt discount | $ 294,227 | |||||||||||||||||||||||||||||||||
Proceeds from notes payable | 351,000 | 4,009,318 | ||||||||||||||||||||||||||||||||
LGH Investments LLC [Member] | ||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||
Debt instrument maturity date | Dec. 31, 2023 | |||||||||||||||||||||||||||||||||
February 19, 2021 Labrys 12% Convertible Promissory Note [Member] | ||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||
Interest rate | 12% | |||||||||||||||||||||||||||||||||
Debt instrument maturity date | Feb. 19, 2022 | |||||||||||||||||||||||||||||||||
Debt instrument face amount | $ 1,650,000 | |||||||||||||||||||||||||||||||||
Interest expense | 26,352 | 83,301 | ||||||||||||||||||||||||||||||||
Debt instrument unamortized discount | $ 890,591 | $ 890,591 | ||||||||||||||||||||||||||||||||
February 19, 2021 Labrys 12% Convertible Promissory Note [Member] | Maximum [Member] | ||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||
Debt conversion price | $ 0.02 | $ 0.10 | $ 1 | $ 11.50 | ||||||||||||||||||||||||||||||
February 19, 2021 Labrys 12% Convertible Promissory Note [Member] | Minimum [Member] | ||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||
Debt conversion price | 0.0175 | $ 0.02 | 0.10 | 1 | ||||||||||||||||||||||||||||||
March 2021 FirstFire Global 12% Convertible Promissory Note [Member] | ||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||
Interest rate | 12% | |||||||||||||||||||||||||||||||||
Debt instrument maturity date | Mar. 10, 2022 | |||||||||||||||||||||||||||||||||
Debt instrument face amount | $ 560,000 | |||||||||||||||||||||||||||||||||
Debt conversion price | $ 0.02 | $ 0.02 | $ 0.10 | $ 0.02 | ||||||||||||||||||||||||||||||
Interest expense | $ 12,494 | $ 48,587 | ||||||||||||||||||||||||||||||||
Debt instrument unamortized discount | $ 294,227 | |||||||||||||||||||||||||||||||||
Outstanding principal balance | $ 73,600 | $ 19,120 | $ 9,500 | |||||||||||||||||||||||||||||||
Number of shares issued | 3,680,000 | 956,000 | 95,000 | |||||||||||||||||||||||||||||||
Share price per share | $ 0.13 | |||||||||||||||||||||||||||||||||
Losses on extinguishment of debt | $ 6,026 | $ 47,906 | $ 2,850 | |||||||||||||||||||||||||||||||
Accretion expense | 82,493 | 209,900 | ||||||||||||||||||||||||||||||||
Carrying amount | 323,453 | 323,453 | ||||||||||||||||||||||||||||||||
Unaccreted discount | $ 84,327 | $ 84,327 | ||||||||||||||||||||||||||||||||
March 2021 FirstFire Global 12% Convertible Promissory Note [Member] | Maximum [Member] | ||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||
Debt conversion price | 0.0175 | $ 0.10 | 1 | 11.50 | ||||||||||||||||||||||||||||||
Share price per share | $ 0.038 | $ 0.162 | $ 0.038 | |||||||||||||||||||||||||||||||
March 2021 FirstFire Global 12% Convertible Promissory Note [Member] | Minimum [Member] | ||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||
Debt conversion price | 0.02 | 0.02 | 0.10 | 1 | ||||||||||||||||||||||||||||||
Share price per share | $ 0.013 | 0.037 | $ 0.013 | |||||||||||||||||||||||||||||||
June 2021 FirstFire Global 12% Convertible Promissory Note [Member] | ||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||
Interest rate | 12% | |||||||||||||||||||||||||||||||||
Debt instrument maturity date | Jun. 10, 2023 | |||||||||||||||||||||||||||||||||
Debt instrument face amount | $ 1,266,666 | |||||||||||||||||||||||||||||||||
Debt conversion price | $ 11.50 | |||||||||||||||||||||||||||||||||
Interest expense | $ 134,589 | $ 408,523 | ||||||||||||||||||||||||||||||||
Carrying amount | 939,133 | 939,133 | ||||||||||||||||||||||||||||||||
Unaccreted discount | 152,534 | 152,534 | ||||||||||||||||||||||||||||||||
Number of share issued | 11,875 | |||||||||||||||||||||||||||||||||
Warrant term | 3 years | |||||||||||||||||||||||||||||||||
Warrants to purchase common stock | 593,750 | |||||||||||||||||||||||||||||||||
Warrant exercise price | $ 10.73 | |||||||||||||||||||||||||||||||||
Percentage of benefical ownership limitations | 4.99% | |||||||||||||||||||||||||||||||||
Percentage of limitation on conversion | 9.99% | |||||||||||||||||||||||||||||||||
Original issue discount | $ 126,666 | |||||||||||||||||||||||||||||||||
Accrued interest rate of debt instrument | 125% | |||||||||||||||||||||||||||||||||
Proceeds from issuance of debt | $ 1,140,000 | |||||||||||||||||||||||||||||||||
Proceeds from issuance of debt and warrant | $ 1,140,000 | |||||||||||||||||||||||||||||||||
June 2021 FirstFire Global 12% Convertible Promissory Note [Member] | Maximum [Member] | ||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||
Debt conversion price | 0.02 | 0.10 | 1 | 11.50 | ||||||||||||||||||||||||||||||
June 2021 FirstFire Global 12% Convertible Promissory Note [Member] | Minimum [Member] | ||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||
Debt conversion price | 0.0175 | 0.02 | 0.10 | 1 | ||||||||||||||||||||||||||||||
June 2021 GS Capital Securities 12% Convertible Promissory Note [Member] | ||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||
Interest rate | 12% | |||||||||||||||||||||||||||||||||
Debt instrument maturity date | Jun. 10, 2023 | |||||||||||||||||||||||||||||||||
Debt instrument face amount | $ 333,333 | |||||||||||||||||||||||||||||||||
Debt conversion price | $ 11.50 | $ 0.10 | ||||||||||||||||||||||||||||||||
Interest expense | 28,356 | 113,240 | ||||||||||||||||||||||||||||||||
Outstanding principal balance | $ 53,000 | |||||||||||||||||||||||||||||||||
Number of shares issued | 599,350 | |||||||||||||||||||||||||||||||||
Share price per share | $ 0.19 | |||||||||||||||||||||||||||||||||
Losses on extinguishment of debt | $ 53,942 | |||||||||||||||||||||||||||||||||
Carrying amount | 197,863 | 197,863 | ||||||||||||||||||||||||||||||||
Unaccreted discount | $ 32,136 | $ 32,136 | ||||||||||||||||||||||||||||||||
Number of share issued | 3,125 | |||||||||||||||||||||||||||||||||
Warrant term | 3 years | |||||||||||||||||||||||||||||||||
Warrants to purchase common stock | 156,250 | |||||||||||||||||||||||||||||||||
Warrant exercise price | $ 10.73 | |||||||||||||||||||||||||||||||||
Original issue discount | $ 33,333 | |||||||||||||||||||||||||||||||||
Proceeds from issuance of debt | 300,000 | |||||||||||||||||||||||||||||||||
Proceeds from issuance of debt and warrant | $ 300,000 | |||||||||||||||||||||||||||||||||
Accrued interest | $ 6,935 | |||||||||||||||||||||||||||||||||
June 2021 GS Capital Securities 12% Convertible Promissory Note [Member] | Maximum [Member] | ||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||
Debt conversion price | 0.02 | 0.10 | 1 | 11.50 | ||||||||||||||||||||||||||||||
June 2021 GS Capital Securities 12% Convertible Promissory Note [Member] | Minimum [Member] | ||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||
Debt conversion price | 0.0175 | 0.02 | 0.10 | 1 | ||||||||||||||||||||||||||||||
August 2021 Jefferson Street Capital 12% Convertible Promissory Note [Member] | ||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||
Interest rate | 12% | |||||||||||||||||||||||||||||||||
Debt instrument maturity date | Aug. 23, 2023 | |||||||||||||||||||||||||||||||||
Debt instrument face amount | $ 333,333 | |||||||||||||||||||||||||||||||||
Debt conversion price | $ 11.50 | $ 0.02 | $ 0.02 | $ 0.10 | $ 0.02 | |||||||||||||||||||||||||||||
Interest expense | $ 53,513 | $ 145,697 | ||||||||||||||||||||||||||||||||
Outstanding principal balance | $ 62,504 | $ 13,400 | $ 10,000 | |||||||||||||||||||||||||||||||
Number of shares issued | 3,420,208 | 820,000 | 110,000 | |||||||||||||||||||||||||||||||
Share price per share | $ 0.075 | |||||||||||||||||||||||||||||||||
Losses on extinguishment of debt | $ 2,748 | $ 34,255 | $ 2,750 | |||||||||||||||||||||||||||||||
Carrying amount | 186,834 | 186,834 | ||||||||||||||||||||||||||||||||
Unaccreted discount | 60,695 | 60,695 | ||||||||||||||||||||||||||||||||
Number of share issued | 3,125 | |||||||||||||||||||||||||||||||||
Warrant term | 3 years | |||||||||||||||||||||||||||||||||
Warrants to purchase common stock | 156,250 | |||||||||||||||||||||||||||||||||
Warrant exercise price | $ 10.73 | |||||||||||||||||||||||||||||||||
Original issue discount | $ 33,333 | |||||||||||||||||||||||||||||||||
Proceeds from issuance of debt | 300,000 | |||||||||||||||||||||||||||||||||
Proceeds from issuance of debt and warrant | $ 300,000 | |||||||||||||||||||||||||||||||||
Debt instrument fee amount | $ 6,000 | $ 3,000 | $ 1,000 | $ 6,000 | ||||||||||||||||||||||||||||||
August 2021 Jefferson Street Capital 12% Convertible Promissory Note [Member] | Maximum [Member] | ||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||
Debt conversion price | 0.02 | 0.10 | 1 | 11.50 | ||||||||||||||||||||||||||||||
Share price per share | $ 0.029 | $ 0.162 | $ 0.029 | |||||||||||||||||||||||||||||||
August 2021 Jefferson Street Capital 12% Convertible Promissory Note [Member] | Minimum [Member] | ||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||
Debt conversion price | 0.0175 | 0.02 | 0.10 | 1 | ||||||||||||||||||||||||||||||
Share price per share | $ 0.016 | 0.036 | $ 0.016 | |||||||||||||||||||||||||||||||
Jefferson Note [Member] | Jefferson Street Capital LLC [Member] | Securities Purchase Agreement [Member] | ||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||
Interest rate | 12% | |||||||||||||||||||||||||||||||||
August 2021 Lucas Ventures Capital 12% Convertible Note [Member] | ||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||
Interest rate | 12% | |||||||||||||||||||||||||||||||||
Debt instrument maturity date | Dec. 31, 2023 | Aug. 31, 2023 | ||||||||||||||||||||||||||||||||
Debt instrument face amount | $ 200,000 | |||||||||||||||||||||||||||||||||
Debt conversion price | $ 11.50 | |||||||||||||||||||||||||||||||||
Interest expense | $ 24,658 | $ 74,795 | ||||||||||||||||||||||||||||||||
Unaccreted discount | 50,411 | 50,411 | ||||||||||||||||||||||||||||||||
Number of share issued | 3,749 | |||||||||||||||||||||||||||||||||
Warrant term | 3 years | |||||||||||||||||||||||||||||||||
Warrants to purchase common stock | 187,400 | |||||||||||||||||||||||||||||||||
Warrant exercise price | $ 10.22 | |||||||||||||||||||||||||||||||||
Original issue discount | $ 20,000 | |||||||||||||||||||||||||||||||||
Proceeds from issuance of debt | 180,000 | |||||||||||||||||||||||||||||||||
Proceeds from issuance of debt and warrant | $ 180,000 | |||||||||||||||||||||||||||||||||
Debt instrument carrying value | 149,589 | 149,589 | ||||||||||||||||||||||||||||||||
August 2021 Lucas Ventures Capital 12% Convertible Note [Member] | Maximum [Member] | ||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||
Debt conversion price | $ 11.50 | |||||||||||||||||||||||||||||||||
August 2021 Lucas Ventures Capital 12% Convertible Note [Member] | Minimum [Member] | ||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||
Debt conversion price | 1 | |||||||||||||||||||||||||||||||||
August 2021 LGH Investments, LLC 12% Convertible Promissory Note [Member] | ||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||
Interest rate | 12% | |||||||||||||||||||||||||||||||||
Debt instrument maturity date | Aug. 31, 2023 | |||||||||||||||||||||||||||||||||
Debt instrument face amount | $ 200,000 | |||||||||||||||||||||||||||||||||
Debt conversion price | $ 11.50 | |||||||||||||||||||||||||||||||||
Interest expense | 3,267 | 9,910 | ||||||||||||||||||||||||||||||||
Debt instrument unamortized discount | $ 20,000 | |||||||||||||||||||||||||||||||||
Carrying amount | 193,320 | 193,320 | ||||||||||||||||||||||||||||||||
Unaccreted discount | $ 6,680 | $ 6,680 | ||||||||||||||||||||||||||||||||
Proceeds from issuance of debt | 180,000 | |||||||||||||||||||||||||||||||||
Debt instrument fee amount | 6,500 | |||||||||||||||||||||||||||||||||
Debt discount | $ 26,500 | |||||||||||||||||||||||||||||||||
August 2021 LGH Investments, LLC 12% Convertible Promissory Note [Member] | Maximum [Member] | ||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||
Debt conversion price | 11.50 | |||||||||||||||||||||||||||||||||
August 2021 LGH Investments, LLC 12% Convertible Promissory Note [Member] | Minimum [Member] | ||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||
Debt conversion price | $ 1 | |||||||||||||||||||||||||||||||||
September 2021 Ionic Ventures, LLC 12% Convertible Promissory Note [Member] | ||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||
Interest rate | 12% | |||||||||||||||||||||||||||||||||
Debt instrument maturity date | Sep. 28, 2023 | |||||||||||||||||||||||||||||||||
Debt instrument face amount | $ 1,555,556 | |||||||||||||||||||||||||||||||||
Debt conversion price | $ 11.50 | $ 0.02 | $ 0.02 | $ 0.10 | $ 0.02 | $ 1 | ||||||||||||||||||||||||||||
Interest expense | $ 197,571 | $ 608,008 | ||||||||||||||||||||||||||||||||
Outstanding principal balance | $ 100,200 | $ 80,600 | $ 6,776 | $ 87,800 | ||||||||||||||||||||||||||||||
Number of shares issued | 5,010,000 | 4,030,000 | 67,755 | 87,800 | ||||||||||||||||||||||||||||||
Share price per share | $ 0.13 | |||||||||||||||||||||||||||||||||
Losses on extinguishment of debt | $ 7,618 | $ 141,762 | $ 2,033 | $ 141,358 | ||||||||||||||||||||||||||||||
Carrying amount | 896,025 | 896,025 | ||||||||||||||||||||||||||||||||
Unaccreted discount | $ 369,156 | $ 369,156 | ||||||||||||||||||||||||||||||||
Number of share issued | 14,584 | |||||||||||||||||||||||||||||||||
Warrant term | 3 years | |||||||||||||||||||||||||||||||||
Warrants to purchase common stock | 729,167 | |||||||||||||||||||||||||||||||||
Warrant exercise price | $ 10.73 | |||||||||||||||||||||||||||||||||
Original issue discount | $ 155,556 | |||||||||||||||||||||||||||||||||
Proceeds from issuance of debt | 1,400,000 | |||||||||||||||||||||||||||||||||
Proceeds from issuance of debt and warrant | $ 1,400,000 | |||||||||||||||||||||||||||||||||
September 2021 Ionic Ventures, LLC 12% Convertible Promissory Note [Member] | Maximum [Member] | ||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||
Debt conversion price | 0.0175 | 0.02 | 0.10 | 11.50 | ||||||||||||||||||||||||||||||
Share price per share | $ 0.038 | $ 0.162 | $ 0.038 | |||||||||||||||||||||||||||||||
September 2021 Ionic Ventures, LLC 12% Convertible Promissory Note [Member] | Minimum [Member] | ||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||
Debt conversion price | 0.02 | 0.10 | 1 | $ 1 | ||||||||||||||||||||||||||||||
Share price per share | $ 0.014 | $ 0.022 | $ 0.014 | |||||||||||||||||||||||||||||||
September 2021 Ionic Ventures, LLC 12% Convertible Promissory Note One [Member] | ||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||
Debt conversion price | $ 0.10 | |||||||||||||||||||||||||||||||||
Outstanding principal balance | $ 15,000 | |||||||||||||||||||||||||||||||||
Number of shares issued | 150,000 | |||||||||||||||||||||||||||||||||
Share price per share | $ 0.075 | |||||||||||||||||||||||||||||||||
Losses on extinguishment of debt | $ 4,500 | |||||||||||||||||||||||||||||||||
March 2022 FirstFire Global 12% Convertible Promissory Note [Member] | ||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||
Interest rate | 12% | |||||||||||||||||||||||||||||||||
Debt instrument maturity date | Sep. 21, 2022 | |||||||||||||||||||||||||||||||||
Debt instrument face amount | $ 110,000 | |||||||||||||||||||||||||||||||||
Debt conversion price | $ 1 | |||||||||||||||||||||||||||||||||
Interest expense | $ 3,255 | $ 5,787 | ||||||||||||||||||||||||||||||||
Accretion expense | 0 | 67,554 | ||||||||||||||||||||||||||||||||
Carrying amount | 110,000 | 110,000 | ||||||||||||||||||||||||||||||||
Number of share issued | 935 | |||||||||||||||||||||||||||||||||
Warrant term | 3 years | |||||||||||||||||||||||||||||||||
Warrants to purchase common stock | 50,000 | |||||||||||||||||||||||||||||||||
Warrant exercise price | $ 1 | |||||||||||||||||||||||||||||||||
Original issue discount | $ 10,000 | |||||||||||||||||||||||||||||||||
Proceeds from issuance of debt | 100,000 | |||||||||||||||||||||||||||||||||
Proceeds from issuance of debt and warrant | $ 100,000 | |||||||||||||||||||||||||||||||||
March 2022 FirstFire Global 12% Convertible Promissory Note [Member] | Maximum [Member] | ||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||
Debt conversion price | 0.0175 | 0.10 | 1 | |||||||||||||||||||||||||||||||
March 2022 FirstFire Global 12% Convertible Promissory Note [Member] | Minimum [Member] | ||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||
Debt conversion price | 0.02 | 0.02 | 0.10 | |||||||||||||||||||||||||||||||
March 2022 GS Capital Securities 12% Convertible Promissory Note [Member] | ||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||
Interest rate | 12% | |||||||||||||||||||||||||||||||||
Debt instrument maturity date | Sep. 21, 2022 | |||||||||||||||||||||||||||||||||
Debt instrument face amount | $ 82,500 | |||||||||||||||||||||||||||||||||
Debt conversion price | $ 1 | |||||||||||||||||||||||||||||||||
Interest expense | 2,441 | 4,340 | ||||||||||||||||||||||||||||||||
Accretion expense | 0 | 50,666 | ||||||||||||||||||||||||||||||||
Carrying amount | 82,500 | 82,500 | ||||||||||||||||||||||||||||||||
Number of share issued | 703 | |||||||||||||||||||||||||||||||||
Warrant term | 3 years | |||||||||||||||||||||||||||||||||
Warrants to purchase common stock | 37,500 | |||||||||||||||||||||||||||||||||
Warrant exercise price | $ 1 | |||||||||||||||||||||||||||||||||
Original issue discount | $ 7,500 | |||||||||||||||||||||||||||||||||
Proceeds from issuance of debt | 75,000 | |||||||||||||||||||||||||||||||||
Proceeds from issuance of debt and warrant | $ 75,000 | |||||||||||||||||||||||||||||||||
March 2022 GS Capital Securities 12% Convertible Promissory Note [Member] | Maximum [Member] | ||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||
Debt conversion price | 0.0175 | 0.10 | 1 | |||||||||||||||||||||||||||||||
March 2022 GS Capital Securities 12% Convertible Promissory Note [Member] | Minimum [Member] | ||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||
Debt conversion price | 0.02 | 0.02 | 0.10 | |||||||||||||||||||||||||||||||
March 2022 Ionic Ventures 12% Convertible Promissory Note [Member] | ||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||
Interest rate | 12% | |||||||||||||||||||||||||||||||||
Debt instrument maturity date | Sep. 21, 2022 | |||||||||||||||||||||||||||||||||
Debt instrument face amount | $ 110,000 | |||||||||||||||||||||||||||||||||
Debt conversion price | $ 1 | |||||||||||||||||||||||||||||||||
Interest expense | 3,255 | 5,787 | ||||||||||||||||||||||||||||||||
Accretion expense | 0 | 67,554 | ||||||||||||||||||||||||||||||||
Carrying amount | 110,000 | 110,000 | ||||||||||||||||||||||||||||||||
Number of share issued | 935 | |||||||||||||||||||||||||||||||||
Warrant term | 3 years | |||||||||||||||||||||||||||||||||
Warrants to purchase common stock | 50,000 | |||||||||||||||||||||||||||||||||
Warrant exercise price | $ 1 | |||||||||||||||||||||||||||||||||
Original issue discount | $ 10,000 | |||||||||||||||||||||||||||||||||
Proceeds from issuance of debt | 100,000 | |||||||||||||||||||||||||||||||||
March 2022 Ionic Ventures 12% Convertible Promissory Note [Member] | Maximum [Member] | ||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||
Debt conversion price | 0.0175 | 0.10 | 1 | |||||||||||||||||||||||||||||||
March 2022 Ionic Ventures 12% Convertible Promissory Note [Member] | Minimum [Member] | ||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||
Debt conversion price | 0.02 | 0.02 | 0.10 | |||||||||||||||||||||||||||||||
Ionic Note [Member] | Ionic Ventures LLC [Member] | March 2022 Convertible Note [Member] | ||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||
Proceeds from issuance of debt and warrant | $ 100,000 | |||||||||||||||||||||||||||||||||
April 2022 Jefferson Street Capital LLC 12% Convertible Promissory Note [Member] | ||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||
Interest rate | 12% | |||||||||||||||||||||||||||||||||
Debt instrument maturity date | Oct. 01, 2022 | |||||||||||||||||||||||||||||||||
Debt instrument face amount | $ 82,500 | |||||||||||||||||||||||||||||||||
Debt conversion price | $ 1 | |||||||||||||||||||||||||||||||||
Interest expense | 2,441 | 4,068 | ||||||||||||||||||||||||||||||||
Accretion expense | 0 | 50,666 | ||||||||||||||||||||||||||||||||
Carrying amount | $ 82,500 | $ 82,500 | ||||||||||||||||||||||||||||||||
Number of share issued | 703 | |||||||||||||||||||||||||||||||||
Warrant term | 3 years | |||||||||||||||||||||||||||||||||
Warrant exercise price | $ 1 | |||||||||||||||||||||||||||||||||
Original issue discount | $ 7,500 | |||||||||||||||||||||||||||||||||
Proceeds from issuance of debt | 75,000 | |||||||||||||||||||||||||||||||||
Proceeds from issuance of debt and warrant | $ 75,000 | |||||||||||||||||||||||||||||||||
Number of warrant purchase | 37,500 | |||||||||||||||||||||||||||||||||
April 2022 Jefferson Street Capital LLC 12% Convertible Promissory Note [Member] | Maximum [Member] | ||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||
Debt conversion price | $ 0.0175 | $ 0.0175 | 0.10 | $ 0.02 | ||||||||||||||||||||||||||||||
April 2022 Jefferson Street Capital LLC 12% Convertible Promissory Note [Member] | Minimum [Member] | ||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||
Debt conversion price | $ 0.02 | $ 0.02 | $ 1 | $ 0.10 | ||||||||||||||||||||||||||||||
July 2022 FirstFire Global 12% Convertible Promissory Note [Member] | ||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||
Interest rate | 12% | |||||||||||||||||||||||||||||||||
Debt instrument maturity date | Sep. 14, 2022 | |||||||||||||||||||||||||||||||||
Debt instrument face amount | $ 27,500 | |||||||||||||||||||||||||||||||||
Debt conversion price | $ 0.10 | |||||||||||||||||||||||||||||||||
Interest expense | $ 814 | $ 8,521 | ||||||||||||||||||||||||||||||||
Accretion expense | 0 | 6,461 | ||||||||||||||||||||||||||||||||
Carrying amount | 27,500 | 27,500 | ||||||||||||||||||||||||||||||||
Number of share issued | 935 | |||||||||||||||||||||||||||||||||
Warrant term | 3 years | |||||||||||||||||||||||||||||||||
Warrant exercise price | $ 1 | |||||||||||||||||||||||||||||||||
Original issue discount | $ 2,500 | |||||||||||||||||||||||||||||||||
Proceeds from issuance of debt | 25,000 | |||||||||||||||||||||||||||||||||
Proceeds from issuance of debt and warrant | $ 25,000 | |||||||||||||||||||||||||||||||||
Number of warrant purchase | 50,000 | |||||||||||||||||||||||||||||||||
Accrued interest | 814 | 2,060 | ||||||||||||||||||||||||||||||||
July 2022 FirstFire Global 12% Convertible Promissory Note [Member] | Maximum [Member] | ||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||
Debt conversion price | 0.0175 | 0.02 | ||||||||||||||||||||||||||||||||
July 2022 FirstFire Global 12% Convertible Promissory Note [Member] | Minimum [Member] | ||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||
Debt conversion price | 0.02 | 0.10 | ||||||||||||||||||||||||||||||||
July 2022 GS Capital Securities 12% Convertible Promissory Note [Member] | ||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||
Interest rate | 12% | |||||||||||||||||||||||||||||||||
Debt instrument maturity date | Sep. 14, 2022 | |||||||||||||||||||||||||||||||||
Debt instrument face amount | $ 27,500 | |||||||||||||||||||||||||||||||||
Debt conversion price | $ 0.10 | |||||||||||||||||||||||||||||||||
Interest expense | 814 | 8,521 | ||||||||||||||||||||||||||||||||
Accretion expense | 0 | 6,461 | ||||||||||||||||||||||||||||||||
Carrying amount | 27,500 | 27,500 | ||||||||||||||||||||||||||||||||
Number of share issued | 935 | |||||||||||||||||||||||||||||||||
Warrant term | 3 years | |||||||||||||||||||||||||||||||||
Warrant exercise price | $ 1 | |||||||||||||||||||||||||||||||||
Original issue discount | $ 2,500 | |||||||||||||||||||||||||||||||||
Proceeds from issuance of debt | 25,000 | |||||||||||||||||||||||||||||||||
Proceeds from issuance of debt and warrant | $ 25,000 | |||||||||||||||||||||||||||||||||
Number of warrant purchase | 50,000 | |||||||||||||||||||||||||||||||||
Accrued interest | 814 | 2,060 | ||||||||||||||||||||||||||||||||
July 2022 GS Capital Securities 12% Convertible Promissory Note [Member] | Maximum [Member] | ||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||
Debt conversion price | 0.0175 | 0.02 | ||||||||||||||||||||||||||||||||
July 2022 GS Capital Securities 12% Convertible Promissory Note [Member] | Minimum [Member] | ||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||
Debt conversion price | 0.02 | 0.10 | ||||||||||||||||||||||||||||||||
July 2022 Ionic Ventures, LLC 12% Convertible Promissory Note [Member] | ||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||
Interest rate | 12% | |||||||||||||||||||||||||||||||||
Debt instrument maturity date | Sep. 14, 2022 | |||||||||||||||||||||||||||||||||
Debt instrument face amount | $ 27,500 | |||||||||||||||||||||||||||||||||
Debt conversion price | $ 0.10 | |||||||||||||||||||||||||||||||||
Interest expense | 814 | 8,521 | ||||||||||||||||||||||||||||||||
Accretion expense | 0 | 6,461 | ||||||||||||||||||||||||||||||||
Carrying amount | 27,500 | 27,500 | ||||||||||||||||||||||||||||||||
Number of share issued | 935 | |||||||||||||||||||||||||||||||||
Warrant term | 3 years | |||||||||||||||||||||||||||||||||
Warrant exercise price | $ 1 | |||||||||||||||||||||||||||||||||
Original issue discount | $ 2,500 | |||||||||||||||||||||||||||||||||
Proceeds from issuance of debt | 25,000 | |||||||||||||||||||||||||||||||||
Proceeds from issuance of debt and warrant | $ 25,000 | |||||||||||||||||||||||||||||||||
Number of warrant purchase | 50,000 | |||||||||||||||||||||||||||||||||
Accrued interest | $ 814 | $ 2,060 | ||||||||||||||||||||||||||||||||
July 2022 Ionic Ventures, LLC 12% Convertible Promissory Note [Member] | Maximum [Member] | ||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||
Debt conversion price | $ 0.0175 | $ 0.0175 | 0.02 | |||||||||||||||||||||||||||||||
July 2022 Ionic Ventures, LLC 12% Convertible Promissory Note [Member] | Minimum [Member] | ||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||
Debt conversion price | $ 0.02 | $ 0.02 | 0.10 | |||||||||||||||||||||||||||||||
July 2022 Jefferson Street Capital LLC 12% Convertible Promissory Note [Member] | ||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||
Interest rate | 12% | |||||||||||||||||||||||||||||||||
Debt instrument maturity date | Sep. 14, 2022 | |||||||||||||||||||||||||||||||||
Debt instrument face amount | $ 27,500 | |||||||||||||||||||||||||||||||||
Debt conversion price | $ 0.10 | |||||||||||||||||||||||||||||||||
Interest expense | $ 814 | $ 8,521 | ||||||||||||||||||||||||||||||||
Accretion expense | 0 | 6,461 | ||||||||||||||||||||||||||||||||
Carrying amount | 27,500 | 27,500 | ||||||||||||||||||||||||||||||||
Number of share issued | 935 | |||||||||||||||||||||||||||||||||
Warrant term | 3 years | |||||||||||||||||||||||||||||||||
Warrant exercise price | $ 1 | |||||||||||||||||||||||||||||||||
Original issue discount | $ 2,500 | |||||||||||||||||||||||||||||||||
Proceeds from issuance of debt | 25,000 | |||||||||||||||||||||||||||||||||
Proceeds from issuance of debt and warrant | $ 25,000 | |||||||||||||||||||||||||||||||||
Number of warrant purchase | 50,000 | |||||||||||||||||||||||||||||||||
Accrued interest | 814 | 2,060 | ||||||||||||||||||||||||||||||||
July 2022 Jefferson Street Capital LLC 12% Convertible Promissory Note [Member] | Maximum [Member] | ||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||
Debt conversion price | 0.0175 | 0.02 | ||||||||||||||||||||||||||||||||
July 2022 Jefferson Street Capital LLC 12% Convertible Promissory Note [Member] | Minimum [Member] | ||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||
Debt conversion price | 0.02 | $ 0.10 | ||||||||||||||||||||||||||||||||
September 2022 FirstFire Global 12% Convertible Promissory Note [Member] | ||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||
Interest rate | 12% | |||||||||||||||||||||||||||||||||
Debt instrument maturity date | Jan. 08, 2023 | |||||||||||||||||||||||||||||||||
Debt instrument face amount | $ 66,000 | |||||||||||||||||||||||||||||||||
Debt conversion price | $ 0.02 | |||||||||||||||||||||||||||||||||
Interest expense | 22,205 | 69,747 | ||||||||||||||||||||||||||||||||
Debt instrument unamortized discount | $ 66,000 | |||||||||||||||||||||||||||||||||
Accretion expense | 21,098 | 66,000 | ||||||||||||||||||||||||||||||||
Carrying amount | 66,000 | 66,000 | ||||||||||||||||||||||||||||||||
Warrants to purchase common stock | 120,000 | |||||||||||||||||||||||||||||||||
Warrant exercise price | $ 1 | |||||||||||||||||||||||||||||||||
Original issue discount | $ 6,000 | |||||||||||||||||||||||||||||||||
Proceeds from issuance of debt | 60,000 | |||||||||||||||||||||||||||||||||
Proceeds from issuance of debt and warrant | 60,000 | |||||||||||||||||||||||||||||||||
Accrued interest | 1,107 | 3,747 | ||||||||||||||||||||||||||||||||
Conversion features | 57,756 | |||||||||||||||||||||||||||||||||
Fair value of warrants | $ 2,244 | |||||||||||||||||||||||||||||||||
September 2022 FirstFire Global 12% Convertible Promissory Note [Member] | Maximum [Member] | ||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||
Debt conversion price | 0.0175 | |||||||||||||||||||||||||||||||||
September 2022 FirstFire Global 12% Convertible Promissory Note [Member] | Minimum [Member] | ||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||
Debt conversion price | 0.02 | |||||||||||||||||||||||||||||||||
September 2022 Ionic Ventures, LLC 12% Convertible Promissory Note [Member] | ||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||
Interest rate | 12% | |||||||||||||||||||||||||||||||||
Debt instrument maturity date | Jan. 08, 2023 | |||||||||||||||||||||||||||||||||
Debt instrument face amount | $ 66,000 | |||||||||||||||||||||||||||||||||
Debt conversion price | $ 0.02 | |||||||||||||||||||||||||||||||||
Interest expense | 22,205 | 69,747 | ||||||||||||||||||||||||||||||||
Debt instrument unamortized discount | $ 66,000 | |||||||||||||||||||||||||||||||||
Accretion expense | 21,098 | 66,000 | ||||||||||||||||||||||||||||||||
Carrying amount | 66,000 | 66,000 | ||||||||||||||||||||||||||||||||
Warrant term | 3 years | |||||||||||||||||||||||||||||||||
Warrant exercise price | $ 1 | |||||||||||||||||||||||||||||||||
Original issue discount | $ 6,000 | |||||||||||||||||||||||||||||||||
Proceeds from issuance of debt | 60,000 | |||||||||||||||||||||||||||||||||
Proceeds from issuance of debt and warrant | $ 60,000 | |||||||||||||||||||||||||||||||||
Number of warrant purchase | 120,000 | |||||||||||||||||||||||||||||||||
Accrued interest | 1,107 | 3,747 | ||||||||||||||||||||||||||||||||
Conversion features | $ 57,756 | |||||||||||||||||||||||||||||||||
Fair value of warrants | $ 2,244 | |||||||||||||||||||||||||||||||||
September 2022 Ionic Ventures, LLC 12% Convertible Promissory Note [Member] | Maximum [Member] | ||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||
Debt conversion price | 0.0175 | |||||||||||||||||||||||||||||||||
September 2022 Ionic Ventures, LLC 12% Convertible Promissory Note [Member] | Minimum [Member] | ||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||
Debt conversion price | 0.02 | |||||||||||||||||||||||||||||||||
September 2022 Jefferson Street Capital LLC 12% Convertible Promissory Note [Member] | ||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||
Interest rate | 12% | |||||||||||||||||||||||||||||||||
Debt instrument maturity date | Jan. 08, 2023 | |||||||||||||||||||||||||||||||||
Debt instrument face amount | $ 27,500 | |||||||||||||||||||||||||||||||||
Debt conversion price | $ 0.02 | |||||||||||||||||||||||||||||||||
Interest expense | 9,252 | 29,061 | ||||||||||||||||||||||||||||||||
Debt instrument unamortized discount | $ 27,500 | |||||||||||||||||||||||||||||||||
Accretion expense | 8,791 | 27,500 | ||||||||||||||||||||||||||||||||
Carrying amount | 27,500 | 27,500 | ||||||||||||||||||||||||||||||||
Warrant term | 3 years | |||||||||||||||||||||||||||||||||
Warrants to purchase common stock | 45,454 | |||||||||||||||||||||||||||||||||
Warrant exercise price | $ 1 | |||||||||||||||||||||||||||||||||
Original issue discount | $ 2,500 | |||||||||||||||||||||||||||||||||
Proceeds from issuance of debt | 25,000 | |||||||||||||||||||||||||||||||||
Proceeds from issuance of debt and warrant | 25,000 | |||||||||||||||||||||||||||||||||
Accrued interest | 461 | 1,561 | ||||||||||||||||||||||||||||||||
Conversion features | 24,147 | |||||||||||||||||||||||||||||||||
Fair value of warrants | $ 853 | |||||||||||||||||||||||||||||||||
September 2022 Jefferson Street Capital LLC 12% Convertible Promissory Note [Member] | Maximum [Member] | ||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||
Debt conversion price | 0.0175 | |||||||||||||||||||||||||||||||||
September 2022 Jefferson Street Capital LLC 12% Convertible Promissory Note [Member] | Minimum [Member] | ||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||
Debt conversion price | 0.02 | |||||||||||||||||||||||||||||||||
September 2022 GS Capital Securities 12% Convertible Promissory Note [Member] | ||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||
Interest rate | 12% | |||||||||||||||||||||||||||||||||
Debt instrument maturity date | Jan. 08, 2023 | |||||||||||||||||||||||||||||||||
Debt instrument face amount | $ 11,000 | |||||||||||||||||||||||||||||||||
Debt conversion price | $ 0.02 | |||||||||||||||||||||||||||||||||
Interest expense | 4,133 | 11,606 | ||||||||||||||||||||||||||||||||
Debt instrument unamortized discount | $ 11,000 | |||||||||||||||||||||||||||||||||
Accretion expense | 3,967 | 11,000 | ||||||||||||||||||||||||||||||||
Warrant term | 3 years | |||||||||||||||||||||||||||||||||
Warrant exercise price | $ 1 | |||||||||||||||||||||||||||||||||
Original issue discount | $ 1,000 | |||||||||||||||||||||||||||||||||
Proceeds from issuance of debt | 25,000 | |||||||||||||||||||||||||||||||||
Proceeds from issuance of debt and warrant | $ 10,000 | |||||||||||||||||||||||||||||||||
Debt instrument carrying value | 11,000 | 11,000 | ||||||||||||||||||||||||||||||||
Number of warrant purchase | 18,000 | |||||||||||||||||||||||||||||||||
Accrued interest | 166 | 606 | ||||||||||||||||||||||||||||||||
Conversion features | $ 9,604 | |||||||||||||||||||||||||||||||||
Fair value of warrants | $ 396 | |||||||||||||||||||||||||||||||||
September 2022 GS Capital Securities 12% Convertible Promissory Note [Member] | Maximum [Member] | ||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||
Debt conversion price | 0.0175 | |||||||||||||||||||||||||||||||||
September 2022 GS Capital Securities 12% Convertible Promissory Note [Member] | Minimum [Member] | ||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||
Debt conversion price | $ 0.02 | |||||||||||||||||||||||||||||||||
January 2023 First Fire Global Convertible Promissory Note [Member] | ||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||
Interest rate | 12% | |||||||||||||||||||||||||||||||||
Debt instrument maturity date | May 30, 2023 | |||||||||||||||||||||||||||||||||
Debt instrument face amount | $ 35,200 | |||||||||||||||||||||||||||||||||
Debt conversion price | $ 0.0175 | |||||||||||||||||||||||||||||||||
Interest expense | 1,829 | 1,829 | ||||||||||||||||||||||||||||||||
Debt instrument unamortized discount | $ 3,200 | |||||||||||||||||||||||||||||||||
Accretion expense | 773 | 773 | ||||||||||||||||||||||||||||||||
Unaccreted discount | 2,427 | 2,427 | ||||||||||||||||||||||||||||||||
Original issue discount | 3,200 | |||||||||||||||||||||||||||||||||
Proceeds from issuance of debt | $ 32,000 | |||||||||||||||||||||||||||||||||
Debt instrument carrying value | 32,773 | 32,773 | ||||||||||||||||||||||||||||||||
Accrued interest | 1,056 | 1,056 | ||||||||||||||||||||||||||||||||
January 2023 Ionic Ventures LLC Convertible Promissory Note [Member] | ||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||
Interest rate | 12% | |||||||||||||||||||||||||||||||||
Debt instrument maturity date | May 30, 2023 | |||||||||||||||||||||||||||||||||
Debt instrument face amount | $ 35,200 | |||||||||||||||||||||||||||||||||
Debt conversion price | $ 0.0175 | |||||||||||||||||||||||||||||||||
Interest expense | 1,829 | 1,829 | ||||||||||||||||||||||||||||||||
Accretion expense | 773 | 773 | ||||||||||||||||||||||||||||||||
Carrying amount | 32,773 | 32,773 | ||||||||||||||||||||||||||||||||
Unaccreted discount | 2,427 | 2,427 | ||||||||||||||||||||||||||||||||
Original issue discount | $ 3,200 | |||||||||||||||||||||||||||||||||
Proceeds from issuance of debt | 32,000 | |||||||||||||||||||||||||||||||||
Proceeds from issuance of debt and warrant | 3,200 | |||||||||||||||||||||||||||||||||
Accrued interest | 1,056 | 1,056 | ||||||||||||||||||||||||||||||||
February 2023 Jefferson Street Capital LLC Convertible Promissory Note [Member] | ||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||
Interest rate | 12% | |||||||||||||||||||||||||||||||||
Debt instrument maturity date | May 30, 2023 | |||||||||||||||||||||||||||||||||
Debt instrument face amount | $ 35,200 | |||||||||||||||||||||||||||||||||
Debt conversion price | $ 0.0175 | |||||||||||||||||||||||||||||||||
Interest expense | 8,389 | 8,389 | ||||||||||||||||||||||||||||||||
Accretion expense | 7,333 | 7,333 | ||||||||||||||||||||||||||||||||
Carrying amount | 7,333 | 7,333 | ||||||||||||||||||||||||||||||||
Unaccreted discount | 27,867 | 27,867 | ||||||||||||||||||||||||||||||||
Original issue discount | $ 3,200 | |||||||||||||||||||||||||||||||||
Proceeds from issuance of debt | 32,000 | |||||||||||||||||||||||||||||||||
Proceeds from issuance of debt and warrant | $ 32,000 | |||||||||||||||||||||||||||||||||
Accrued interest | 1,056 | 1,056 | ||||||||||||||||||||||||||||||||
Secured Promissory Note One [Member] | ||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||
Interest rate | 10% | |||||||||||||||||||||||||||||||||
Debt instrument face amount | $ 262,500 | |||||||||||||||||||||||||||||||||
Interest expense | 7,969 | 53,945 | ||||||||||||||||||||||||||||||||
Accretion expense | 4,851 | 14,553 | ||||||||||||||||||||||||||||||||
Carrying amount | 51,970 | 51,970 | ||||||||||||||||||||||||||||||||
Unaccreted discount | 72,765 | 72,765 | ||||||||||||||||||||||||||||||||
Warrants to purchase common stock | 30,000 | |||||||||||||||||||||||||||||||||
Warrant exercise price | $ 10.73 | |||||||||||||||||||||||||||||||||
Original issue discount | $ 12,500 | |||||||||||||||||||||||||||||||||
Accrued interest | 3,118 | 8,315 | ||||||||||||||||||||||||||||||||
Proceeds from notes payable | $ 250,000 | |||||||||||||||||||||||||||||||||
Debt instrument periodic payment principal | 4,500 | |||||||||||||||||||||||||||||||||
Periodic payment interest | 1,077 | |||||||||||||||||||||||||||||||||
Secured Promissory Note Two [Member] | ||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||
Interest rate | 10% | |||||||||||||||||||||||||||||||||
Debt instrument face amount | $ 157,500 | |||||||||||||||||||||||||||||||||
Interest expense | 4,789 | 13,739 | ||||||||||||||||||||||||||||||||
Accretion expense | 2,911 | 8,732 | ||||||||||||||||||||||||||||||||
Carrying amount | 31,461 | 31,461 | ||||||||||||||||||||||||||||||||
Unaccreted discount | 43,657 | 43,657 | ||||||||||||||||||||||||||||||||
Warrants to purchase common stock | 18,000 | |||||||||||||||||||||||||||||||||
Warrant exercise price | $ 10.73 | |||||||||||||||||||||||||||||||||
Original issue discount | $ 7,500 | |||||||||||||||||||||||||||||||||
Accrued interest | 1,878 | 5,007 | ||||||||||||||||||||||||||||||||
Proceeds from notes payable | $ 150,000 | $ 150,000 | ||||||||||||||||||||||||||||||||
Periodic payment interest | 646 | |||||||||||||||||||||||||||||||||
Kaplan Promissory Note [Member] | Jed Kaplan [Member] | ||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||
Interest rate | 5% | |||||||||||||||||||||||||||||||||
Debt instrument maturity date | Jun. 10, 2022 | |||||||||||||||||||||||||||||||||
Debt instrument face amount | $ 247,818 | |||||||||||||||||||||||||||||||||
Interest expense | 0 | $ 2,716 | 339 | $ 2,716 | ||||||||||||||||||||||||||||||
Accrued interest | $ 6,178 | |||||||||||||||||||||||||||||||||
Paycheck Protection Program [Member] | ||||||||||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||||||||||
Carrying amount | $ 41,735 | $ 41,735 | ||||||||||||||||||||||||||||||||
Proceeds from loans | $ 82,235 | |||||||||||||||||||||||||||||||||
Forgiveness of loan | $ 40,500 |
SCHEDULE OF ISSUED AND OUTSTAND
SCHEDULE OF ISSUED AND OUTSTANDING WARRANTS TO PURCHASE SHARES (Details) | 9 Months Ended |
Feb. 28, 2023 $ / shares shares | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |
Number of warrants outstanding | 3,900,477 |
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 | $ / shares | $ 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 | $ / shares | $ 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 | $ / shares | $ 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 | $ / shares | $ 0.0175 |
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 | $ / shares | $ 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 | $ / shares | $ 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 | $ / shares | $ 0.0175 |
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 | $ / shares | $ 0.0175 |
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 | $ / shares | $ 0.0175 |
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 | $ / shares | $ 0.0175 |
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 | $ / shares | $ 0.0175 |
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 | $ / shares | $ 0.0175 |
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 | $ / shares | $ 0.0175 |
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 | $ / shares | $ 0.0175 |
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 | $ / shares | $ 0.0175 |
Warrant Sixteen [Member] | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |
Issuance date | Sep. 08, 2022 |
Number of warrants outstanding | 285,454 |
Vesting date | Sep. 08, 2022 |
Termination date | Sep. 08, 2025 |
Exercise price | $ / shares | $ 0.0175 |
Warrant Seventeen [Member] | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |
Issuance date | Sep. 13, 2022 |
Number of warrants outstanding | 18,000 |
Vesting date | Sep. 08, 2022 |
Termination date | Sep. 13, 2025 |
Exercise price | $ / shares | $ 0.0175 |
SCHEDULE OF OPTION ACTIVITY (De
SCHEDULE OF OPTION ACTIVITY (Details) - $ / shares | 9 Months Ended | 12 Months Ended |
Feb. 28, 2023 | May 31, 2022 | |
Equity [Abstract] | ||
Number of Shares, Outstanding, Beginning balance | 462,500 | |
Weighted Average Exercise Price, Outstanding, Beginning balance | $ 2.77 | |
Weighted average remaining contractual life, Ending balance | 2 years 2 months 4 days | 2 years 11 months 4 days |
Number of shares exercised | ||
Weighted Average Exercise Price, Exercised | ||
Number of shares granted | ||
Weighted Average Exercise Price, Granted | ||
Number of shares expired | ||
Weighted Average Exercise Price, Expired | ||
Number of shares forfeited | (72,500) | |
Weighted Average Exercise Price, Forfeited | $ 2.77 | |
Weighted average Remaining contractual life, Forfeited | 2 years 8 months 4 days | |
Number of Shares, Outstanding, Ending balance | 390,000 | 462,500 |
Weighted Average Exercise Price, Outstanding, Ending balance | $ 2.77 | $ 2.77 |
Number of shares exercisable | 390,000 | |
Weighted average exercisable price | $ 2.77 | |
Weighted average Remaining contractual life exercisable | 2 years 2 months 4 days |
STOCKHOLDERS_ EQUITY (Details N
STOCKHOLDERS’ EQUITY (Details Narrative) - USD ($) | 1 Months Ended | 3 Months Ended | 9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||
Jan. 24, 2023 | Jan. 04, 2023 | Jan. 03, 2023 | Dec. 28, 2022 | Dec. 23, 2022 | Dec. 21, 2022 | Dec. 20, 2022 | Dec. 19, 2022 | Dec. 15, 2022 | Dec. 13, 2022 | Dec. 12, 2022 | Dec. 07, 2022 | Dec. 06, 2022 | Dec. 05, 2022 | Dec. 01, 2022 | Nov. 17, 2022 | Nov. 11, 2022 | Nov. 10, 2022 | Nov. 07, 2022 | Oct. 24, 2022 | Oct. 11, 2022 | Oct. 09, 2022 | Oct. 07, 2022 | Oct. 06, 2022 | Oct. 05, 2022 | Oct. 03, 2022 | Sep. 30, 2022 | Sep. 29, 2022 | Sep. 27, 2022 | Sep. 10, 2022 | Sep. 02, 2022 | Aug. 30, 2022 | Aug. 29, 2022 | Aug. 23, 2022 | Aug. 04, 2022 | Jul. 28, 2022 | Jul. 27, 2022 | Jul. 18, 2022 | Jun. 24, 2022 | Jun. 01, 2022 | Jun. 30, 2022 | Feb. 28, 2023 | Nov. 30, 2022 | Aug. 31, 2022 | Feb. 28, 2022 | Nov. 30, 2021 | Aug. 31, 2021 | Feb. 28, 2023 | Feb. 28, 2022 | Jan. 20, 2023 | Jan. 19, 2023 | Sep. 01, 2022 | May 31, 2022 | |
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, authorized | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, par value | $ 0.0001 | $ 0.0001 | $ 0.0001 | $ 0.0001 | |||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, outstanding | 1 | 1 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Share based compensation | $ 165,179 | $ 1,407,175 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock authorized to issue | 250,000,000 | 250,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock, par value | $ 0.0001 | $ 0.0001 | $ 0.0001 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock, authorized | 250,000,000 | 250,000,000 | 250,000,000 | 36,000,000 | 250,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||
Common stock, shares outstanding | 21,686,369 | 21,686,369 | 1,830,818 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock issued, purchase price | $ 850,775 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Loss on extinguishment of debt | $ (1,157) | $ (276,655) | $ (1,730,801) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Number of warrants to acquire | 0 | 2,315,897 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Stock option issued during period shares | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Unrecognized compensation expense | 0 | $ 0 | $ 0 | $ 0 | |||||||||||||||||||||||||||||||||||||||||||||||||
Equity Option [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Share based compensation | $ 0 | $ 183,361 | $ 32,976 | $ 550,082 | |||||||||||||||||||||||||||||||||||||||||||||||||
Officers and Directors [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Share issued price per share | $ 2.81 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from issuance of common stock | $ 316 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock issued | 1,667 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Officer [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock option issued during period shares | 275,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Third Party Vendor [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock issued | 100,000 | 100,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Share issued price per share | $ 0.043 | $ 0.162 | $ 0.12 | $ 1.22 | $ 0.47 | ||||||||||||||||||||||||||||||||||||||||||||||||
Common stock issued, purchase price | $ 6,800 | $ 25,000 | $ 5,000 | $ 5,000 | $ 100,000 | $ 50,000 | |||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from issuance of common stock | $ 7,650 | $ 872 | $ 1,720 | $ 7,000 | $ 22,000 | $ 3,000 | |||||||||||||||||||||||||||||||||||||||||||||||
Common stock issued | 340,000 | 160,000 | 112,000 | 100,000 | |||||||||||||||||||||||||||||||||||||||||||||||||
Accredited Investor [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Share issued price per share | $ 0.06 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
FirstFire Global Oppurtunities Fund, LLC [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock issued during the period value convertible securities | 925,000 | 600,000 | 600,000 | 540,000 | 525,000 | 490,000 | 358,000 | 248,000 | 200,000 | 150,000 | 95,000 | ||||||||||||||||||||||||||||||||||||||||||
Share issued price per share | $ 0.013 | $ 0.020 | $ 0.038 | $ 0.016 | $ 0.023 | $ 0.024 | $ 0.043 | $ 0.037 | $ 0.092 | $ 0.162 | $ 0.13 | ||||||||||||||||||||||||||||||||||||||||||
Conversion of principal amount | $ 18,500 | $ 12,000 | $ 12,000 | $ 10,800 | $ 10,500 | $ 9,800 | $ 7,160 | $ 4,960 | $ 4,000 | $ 3,000 | $ 9,500 | ||||||||||||||||||||||||||||||||||||||||||
Loss on extinguishment of debt | $ 6,133 | $ 300 | $ 10,992 | $ 1,998 | $ 1,554 | $ 1,911 | $ 8,055 | $ 4,156 | $ 14,440 | $ 21,255 | $ 2,850 | ||||||||||||||||||||||||||||||||||||||||||
GS Capital Partners, LLC [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock issued during the period value convertible securities | 599,350 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Share issued price per share | $ 0.19 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Conversion of principal amount | $ 53,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Loss on extinguishment of debt | 53,942 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | $ 6,935 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Jefferson Street Capital LLC [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock issued during the period value convertible securities | 810,208 | 550,000 | 600,000 | 525,000 | 475,000 | 460,000 | 380,000 | 290,000 | 150,000 | 110,000 | |||||||||||||||||||||||||||||||||||||||||||
Share issued price per share | $ 0.017 | $ 0.018 | $ 0.016 | $ 0.029 | $ 0.024 | $ 0.025 | $ 0.042 | $ 0.036 | $ 0.162 | $ 0.075 | |||||||||||||||||||||||||||||||||||||||||||
Conversion of principal amount | $ 15,204 | $ 10,000 | $ 11,000 | $ 9,500 | $ 8,500 | $ 8,200 | $ 6,600 | $ 4,800 | $ 2,000 | $ 10,000 | |||||||||||||||||||||||||||||||||||||||||||
Loss on extinguishment of debt | 2,431 | 990 | 2,400 | 4,463 | 1,853 | 2,254 | 8,360 | 4,640 | 21,255 | 2,750 | |||||||||||||||||||||||||||||||||||||||||||
Conversion of principal amount | $ 1,000 | $ 1,000 | $ 1,000 | $ 1,000 | $ 1,000 | $ 1,000 | $ 1,000 | $ 1,000 | $ 1,000 | $ 1,000 | |||||||||||||||||||||||||||||||||||||||||||
Ionic Ventures LLC [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock issued during the period value convertible securities | 1,025,000 | 900,000 | 655,000 | 655,000 | 650,000 | 625,000 | 500,000 | 455,000 | 385,000 | 380,000 | 360,000 | 340,000 | 265,000 | 265,000 | 265,000 | 440,000 | 400,000 | 160,000 | 160,000 | 155,000 | 150,000 | 67,755 | |||||||||||||||||||||||||||||||
Share issued price per share | $ 0.014 | $ 0.014 | $ 0.016 | $ 0.019 | $ 0.038 | $ 0.016 | $ 0.015 | $ 0.028 | $ 0.038 | $ 0.043 | $ 0.022 | $ 0.027 | $ 0.036 | $ 0.037 | $ 0.044 | $ 0.092 | $ 0.13 | $ 0.162 | $ 0.03 | $ 0.05 | $ 0.07 | $ 0.13 | |||||||||||||||||||||||||||||||
Conversion of principal amount | $ 20,500 | $ 18,000 | $ 13,100 | $ 13,100 | $ 13,000 | $ 12,500 | $ 10,000 | $ 9,100 | $ 7,700 | $ 7,600 | $ 7,200 | $ 6,800 | $ 5,300 | $ 5,300 | $ 5,300 | $ 8,800 | $ 8,000 | $ 3,200 | $ 3,200 | $ 3,100 | $ 15,000 | $ 6,776 | |||||||||||||||||||||||||||||||
Loss on extinguishment of debt | $ 5,945 | $ 5,400 | $ 2,751 | $ 655 | $ 11,908 | $ 2,500 | $ 2,275 | $ 3,640 | $ 6,911 | $ 8,550 | $ 720 | $ 2,210 | $ 4,240 | $ 4,441 | $ 6,360 | $ 31,768 | $ 44,000 | $ 22,672 | $ 1,600 | $ 4,650 | $ 4,500 | $ 2,033 | |||||||||||||||||||||||||||||||
Minimum [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock, authorized | 36,000,000 | 36,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Maximum [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock, authorized | 250,000,000 | 250,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock issued during the period value convertible securities | 12,110,208 | 5,956,000 | 872,105 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock issued | 20,438 | 21,346 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock issued, purchase price | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock [Member] | Officers and Directors [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Share issued price per share | $ 1.35 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from issuance of common stock | $ 179 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock issued | 3,571 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrant [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Share issued price per share | $ 20 | $ 20 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock issued, purchase price | $ 100,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock issued | 0 | 100,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Number of warrants to acquire | 0 | 503,454 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Exercise price | $ 1 | $ 1 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Expected dividend yield | 0% | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Expected term | 3 years | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrant [Member] | Minimum [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Expected volatility | 134% | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk free interest rate | 3.16% | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrant [Member] | Maximum [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Expected volatility | 147% | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk free interest rate | 3.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Series X Preferred Stock [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Redemption price per share | $ 1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Purchase price of share | $ 1,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock issued, purchase price | 1,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Series X Preferred Stock [Member] | Common Stock [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Purchase price of share | $ 1,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock issued during the period value convertible securities | 500,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Estimated fair market value | $ 183,498 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Share based compensation | $ 182,498 |
SCHEDULE OF DERIVATIVE LIABILIT
SCHEDULE OF DERIVATIVE LIABILITY BALANCES (Details) - USD ($) | 3 Months Ended | 6 Months Ended | 9 Months Ended | ||
Feb. 28, 2023 | Nov. 30, 2022 | Nov. 30, 2022 | Feb. 28, 2023 | Feb. 28, 2022 | |
Derivative Liability | |||||
Derivative liability begining balances | $ 3,390,009 | ||||
Adjustments to derivative liability recorded in additional paid in capital due to sequencing | (2,678,568) | $ 10,485,603 | 10,485,603 | ||
Derivative liability recorded as debt discount | 294,226 | 294,226 | |||
Gain on change in fair value of derivative liability | (7,389,820) | (7,389,820) | |||
Loss on change in fair value of derivative liability | 96,971 | ||||
Derivative liability ending balances | $ 808,412 | $ 3,390,009 | $ 3,390,009 | $ 808,412 |
DERIVATIVE LIABILITY (Details N
DERIVATIVE LIABILITY (Details Narrative) | 3 Months Ended | 6 Months Ended | 9 Months Ended | |||||||
Jan. 20, 2023 $ / shares shares | Feb. 28, 2023 USD ($) shares | Nov. 30, 2022 USD ($) shares | Feb. 28, 2022 USD ($) | Nov. 30, 2022 USD ($) | Feb. 28, 2023 USD ($) $ / shares shares | Feb. 28, 2022 USD ($) | Jan. 19, 2023 shares | Sep. 01, 2022 shares | May 31, 2022 USD ($) shares | |
Debt conversion price decrease | $ / shares | $ 0.02 | |||||||||
Number of shares recorded derivative liability | shares | 500,000 | |||||||||
Aggregate derivative liability | $ 10,832,403 | $ 10,832,403 | ||||||||
Increase (decrease) in derivative liabilities | $ 2,678,568 | 52,574 | ||||||||
Derivative liability as additional paid in capital | (2,678,568) | 10,485,603 | 10,485,603 | |||||||
Debt Instrument, Unamortized Discount, Current | 294,227 | 294,227 | ||||||||
Derivative, Gain on Derivative | 7,389,820 | 7,389,820 | ||||||||
Derivative liability | $ 808,412 | $ 3,390,009 | $ 3,390,009 | $ 808,412 | ||||||
Common stock, shares authorized | shares | 250,000,000 | 250,000,000 | 250,000,000 | 36,000,000 | 250,000,000 | |||||
Gain on change in value of derivative liability | $ 96,971 | $ (7,292,849) | ||||||||
Interest expense | $ 82,493 | $ 209,900 | ||||||||
Minimum [Member] | ||||||||||
Debt conversion price decrease | $ / shares | $ 0.0175 | |||||||||
Number of shares recorded derivative liability | shares | 60,977,418 | |||||||||
Expected terms | 7 months 28 days | |||||||||
Common stock, shares authorized | shares | 36,000,000 | 36,000,000 | ||||||||
Maximum [Member] | ||||||||||
Debt conversion price decrease | $ / shares | $ 0.02 | |||||||||
Number of shares recorded derivative liability | shares | 226,672,445 | |||||||||
Expected terms | 2 years 10 months 17 days | |||||||||
Common stock, shares authorized | shares | 250,000,000 | 250,000,000 | ||||||||
Measurement Input, Expected Dividend Rate [Member] | ||||||||||
Derivative liability, measurement input | 0 | 0 | ||||||||
Measurement Input, Price Volatility [Member] | Minimum [Member] | ||||||||||
Derivative liability, measurement input | 130.3 | 130.3 | ||||||||
Measurement Input, Price Volatility [Member] | Maximum [Member] | ||||||||||
Derivative liability, measurement input | 305.4 | 305.4 | ||||||||
Measurement Input, Risk Free Interest Rate [Member] | Minimum [Member] | ||||||||||
Derivative liability, measurement input | 3.2 | 3.2 | ||||||||
Measurement Input, Risk Free Interest Rate [Member] | Maximum [Member] | ||||||||||
Derivative liability, measurement input | 4.1 | 4.1 | ||||||||
Common Stock [Member] | ||||||||||
Number of shares recorded derivative liability | shares | 226,172,445 |
SCHEDULE OF PROMISSORY NOTES (D
SCHEDULE OF PROMISSORY NOTES (Details) | 9 Months Ended |
Feb. 28, 2023 USD ($) | |
Promissory Notes Omitted One [Member] | First Fire Global Opportunities Fund [Member] | |
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |
Date of origination | Sep. 08, 2022 |
Principal and Interest Balance | $ 68,640 |
Promissory Notes Omitted One [Member] | Ionic Ventures LLC [Member] | |
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |
Date of origination | Sep. 08, 2022 |
Principal and Interest Balance | $ 68,640 |
Promissory Notes Omitted One [Member] | Jefferson Street Capital [Member] | |
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |
Date of origination | Sep. 08, 2022 |
Principal and Interest Balance | $ 28,600 |
Promissory Notes Omitted Two [Member] | First Fire Global Opportunities Fund [Member] | |
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |
Date of origination | Jan. 30, 2023 |
Principal and Interest Balance | $ 35,200 |
Promissory Notes Omitted Two [Member] | Ionic Ventures LLC [Member] | |
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |
Date of origination | Jan. 30, 2023 |
Principal and Interest Balance | $ 35,200 |
Promissory Notes Omitted Two [Member] | Jefferson Street Capital [Member] | |
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |
Date of origination | Jan. 30, 2023 |
Principal and Interest Balance | $ 35,200 |
Promissory Notes Omitted Three [Member] | First Fire Global Opportunities Fund [Member] | |
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |
Date of origination | Mar. 08, 2023 |
Principal and Interest Balance | $ 16,500 |
Promissory Notes Omitted Three [Member] | Ionic Ventures LLC [Member] | |
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |
Date of origination | Mar. 08, 2023 |
Principal and Interest Balance | $ 16,500 |
Letter Agreement [Member] | Promissory Notes One [Member] | First Fire Global Opportunities Fund [Member] | |
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |
Date of origination | Mar. 21, 2022 |
Principal and Interest Balance | $ 120,819 |
Letter Agreement [Member] | Promissory Notes One [Member] | GS Capital Partners [Member] | |
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |
Date of origination | Mar. 21, 2022 |
Principal and Interest Balance | $ 90,614 |
Letter Agreement [Member] | Promissory Notes One [Member] | Ionic Ventures LLC [Member] | |
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |
Date of origination | Mar. 21, 2022 |
Principal and Interest Balance | $ 120,819 |
Letter Agreement [Member] | Promissory Notes One [Member] | Jefferson Street Capital [Member] | |
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |
Date of origination | Apr. 01, 2022 |
Principal and Interest Balance | $ 90,162 |
Letter Agreement [Member] | Promissory Notes One [Member] | Labrys Fund [Member] | |
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |
Date of origination | Feb. 19, 2021 |
Principal and Interest Balance | $ 1,021,697 |
Letter Agreement [Member] | Promissory Notes One [Member] | LGH Investments [Member] | |
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |
Date of origination | Sep. 02, 2021 |
Principal and Interest Balance | $ 248,000 |
Letter Agreement [Member] | Promissory Notes One [Member] | Lucas Ventures [Member] | |
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |
Date of origination | Sep. 02, 2021 |
Principal and Interest Balance | $ 248,000 |
Letter Agreement [Member] | Promissory Notes Two [Member] | First Fire Global Opportunities Fund [Member] | |
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |
Date of origination | Jul. 14, 2022 |
Principal and Interest Balance | $ 29,196 |
Letter Agreement [Member] | Promissory Notes Two [Member] | GS Capital Partners [Member] | |
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |
Date of origination | Jul. 14, 2022 |
Principal and Interest Balance | $ 29,196 |
Letter Agreement [Member] | Promissory Notes Two [Member] | Ionic Ventures LLC [Member] | |
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |
Date of origination | Jul. 14, 2022 |
Principal and Interest Balance | $ 29,196 |
Letter Agreement [Member] | Promissory Notes Two [Member] | Jefferson Street Capital [Member] | |
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |
Date of origination | Aug. 24, 2021 |
Principal and Interest Balance | $ 327,529 |
Letter Agreement [Member] | Promissory Notes Three [Member] | First Fire Global Opportunities Fund [Member] | |
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |
Date of origination | Jun. 10, 2021 |
Principal and Interest Balance | $ 1,364,167 |
Letter Agreement [Member] | Promissory Notes Three [Member] | GS Capital Partners [Member] | |
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |
Date of origination | Jun. 10, 2021 |
Principal and Interest Balance | $ 299,678 |
Letter Agreement [Member] | Promissory Notes Three [Member] | Ionic Ventures LLC [Member] | |
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |
Date of origination | Sep. 29, 2021 |
Principal and Interest Balance | $ 1,526,014 |
Letter Agreement [Member] | Promissory Notes Three [Member] | Jefferson Street Capital [Member] | |
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |
Date of origination | Jul. 14, 2022 |
Principal and Interest Balance | $ 29,196 |
Letter Agreement [Member] | Promissory Notes Four [Member] | First Fire Global Opportunities Fund [Member] | |
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |
Date of origination | Mar. 10, 2021 |
Principal and Interest Balance | $ 528,847 |
Letter Agreement [Member] | Promissory Notes Four [Member] | GS Capital Partners [Member] | |
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |
Date of origination | Sep. 13, 2022 |
Principal and Interest Balance | $ 11,440 |
SUBSEQUENT EVENTS (Details Narr
SUBSEQUENT EVENTS (Details Narrative) - USD ($) | 3 Months Ended | 9 Months Ended | |||||||||||||||
Jul. 14, 2023 | Jul. 14, 2023 | Apr. 17, 2023 | Mar. 21, 2023 | Mar. 08, 2023 | Sep. 28, 2022 | May 31, 2023 | Feb. 28, 2023 | Aug. 31, 2022 | Feb. 28, 2023 | Jan. 30, 2023 | Jan. 20, 2023 | Jan. 19, 2023 | Sep. 08, 2022 | Sep. 01, 2022 | Jul. 14, 2022 | May 31, 2022 | |
Subsequent Event [Line Items] | |||||||||||||||||
Common stock authorized | 250,000,000 | 250,000,000 | 250,000,000 | 36,000,000 | 250,000,000 | ||||||||||||
Number of shares issued | $ 183,498 | ||||||||||||||||
Interest expense, debt | $ 82,493 | $ 209,900 | |||||||||||||||
April 2023 SPA, Ionic Secured Convertible Note [Member] | |||||||||||||||||
Subsequent Event [Line Items] | |||||||||||||||||
Debt instrument, face amount | $ 35,200 | $ 66,000 | $ 27,500 | ||||||||||||||
April 2023 SPA, FirstFire Secured Convertible Note [Member] | |||||||||||||||||
Subsequent Event [Line Items] | |||||||||||||||||
Debt instrument, face amount | $ 35,200 | $ 66,000 | $ 27,500 | ||||||||||||||
Maximum [Member] | |||||||||||||||||
Subsequent Event [Line Items] | |||||||||||||||||
Common stock authorized | 250,000,000 | 250,000,000 | |||||||||||||||
Exchange Agreement [Member] | |||||||||||||||||
Subsequent Event [Line Items] | |||||||||||||||||
Percentage of issued and outstanding | 12.50% | ||||||||||||||||
Common stock authorized | 250,000,000 | ||||||||||||||||
Revenues | $ 60,000 | ||||||||||||||||
Number of shares issued | $ 4,000,000 | ||||||||||||||||
Exercise price | $ 1 | ||||||||||||||||
Membership [Member] | Diverted River Exchange Agreement [Member] | |||||||||||||||||
Subsequent Event [Line Items] | |||||||||||||||||
Percentage of issued and outstanding | 80% | ||||||||||||||||
Diverted River Exchange Agreement [Member] | Membership [Member] | |||||||||||||||||
Subsequent Event [Line Items] | |||||||||||||||||
Interest rate | 100% | ||||||||||||||||
Subsequent Event [Member] | |||||||||||||||||
Subsequent Event [Line Items] | |||||||||||||||||
Debt conversion convertible | $ 117,300 | ||||||||||||||||
Debt conversion convertible shares | 6,681,427 | ||||||||||||||||
Subsequent Event [Member] | March 2023 Ionic SPA & 12% Convertible Note [Member] | |||||||||||||||||
Subsequent Event [Line Items] | |||||||||||||||||
Debt instrument, interest rate | 12% | ||||||||||||||||
Debt instrument, maturity date | Jul. 08, 2023 | ||||||||||||||||
Debt instrument, face amount | $ 16,500 | ||||||||||||||||
Payment to debt | 16,500 | ||||||||||||||||
Original issue discount, amount | 1,500 | ||||||||||||||||
Purchase price exchange, amount | $ 15,000 | ||||||||||||||||
Beneficial ownership limitation, percent | 4.99% | ||||||||||||||||
Limitation on conversion, percent | 9.99% | ||||||||||||||||
Conversion price per share | $ 0.0175 | ||||||||||||||||
Interest expense, debt | $ 660 | ||||||||||||||||
Outstanding plus accrued interest, percent | 125% | ||||||||||||||||
Subsequent Event [Member] | March 2023 FirstFire SPA & 12% Convertible Note [Member] | |||||||||||||||||
Subsequent Event [Line Items] | |||||||||||||||||
Debt instrument, interest rate | 12% | ||||||||||||||||
Debt instrument, maturity date | Jul. 08, 2023 | ||||||||||||||||
Debt instrument, face amount | $ 16,500 | ||||||||||||||||
Payment to debt | 16,500 | ||||||||||||||||
Original issue discount, amount | 1,500 | ||||||||||||||||
Purchase price exchange, amount | $ 15,000 | ||||||||||||||||
Beneficial ownership limitation, percent | 4.99% | ||||||||||||||||
Limitation on conversion, percent | 9.99% | ||||||||||||||||
Conversion price per share | $ 0.0175 | ||||||||||||||||
Interest expense, debt | $ 660 | ||||||||||||||||
Outstanding plus accrued interest, percent | 125% | ||||||||||||||||
Subsequent Event [Member] | April 2023 SPA, Ionic Secured Convertible Note [Member] | |||||||||||||||||
Subsequent Event [Line Items] | |||||||||||||||||
Debt instrument, interest rate | 12% | ||||||||||||||||
Debt instrument, maturity date | Aug. 17, 2023 | ||||||||||||||||
Debt instrument, face amount | $ 33,000 | ||||||||||||||||
Payment to debt | 33,000 | ||||||||||||||||
Original issue discount, amount | 3,000 | ||||||||||||||||
Purchase price exchange, amount | $ 30,000 | ||||||||||||||||
Beneficial ownership limitation, percent | 4.99% | ||||||||||||||||
Limitation on conversion, percent | 9.99% | ||||||||||||||||
Conversion price per share | $ 0.0175 | ||||||||||||||||
Subsequent Event [Member] | April 2023 SPA, FirstFire Secured Convertible Note [Member] | |||||||||||||||||
Subsequent Event [Line Items] | |||||||||||||||||
Debt instrument, interest rate | 12% | ||||||||||||||||
Debt instrument, maturity date | Aug. 17, 2023 | ||||||||||||||||
Debt instrument, face amount | $ 33,000 | ||||||||||||||||
Payment to debt | 33,000 | ||||||||||||||||
Original issue discount, amount | 3,000 | ||||||||||||||||
Purchase price exchange, amount | $ 30,000 | ||||||||||||||||
Beneficial ownership limitation, percent | 4.99% | ||||||||||||||||
Limitation on conversion, percent | 9.99% | ||||||||||||||||
Conversion price per share | $ 0.0175 | ||||||||||||||||
Subsequent Event [Member] | April 2023 SPA [Member] | |||||||||||||||||
Subsequent Event [Line Items] | |||||||||||||||||
Interest expense, debt | $ 1,320 | ||||||||||||||||
Outstanding plus accrued interest, percent | 125% | ||||||||||||||||
Employee retention credit rebate amount | $ 400,000 | ||||||||||||||||
ERC Rebate, interest rate | 50% | ||||||||||||||||
Due to holder's, amount | $ 10,000 | ||||||||||||||||
Subsequent Event [Member] | Convertible Promissory Note [Member] | |||||||||||||||||
Subsequent Event [Line Items] | |||||||||||||||||
Debt instrument, face amount | $ 16,500 | ||||||||||||||||
Subsequent Event [Member] | Membership [Member] | Diverted River Exchange Agreement [Member] | |||||||||||||||||
Subsequent Event [Line Items] | |||||||||||||||||
Percentage of issued and outstanding | 5% | 75% | |||||||||||||||
Percentage of outstanding common stock | 5% | ||||||||||||||||
Percentage of outstanding | 5% | ||||||||||||||||
Subsequent Event [Member] | Membership [Member] | Diverted River Exchange Agreement [Member] | Maximum [Member] | |||||||||||||||||
Subsequent Event [Line Items] | |||||||||||||||||
Percentage of issued and outstanding | 20% | ||||||||||||||||
Subsequent Event [Member] | Diverted River Exchange Agreement [Member] | Membership [Member] | |||||||||||||||||
Subsequent Event [Line Items] | |||||||||||||||||
Interest rate | 100% | 100% |