Elite Performance Holding (BYLT) 10-Q 7 May 20 2019 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	9 Months Ended
	Sep. 30, 2019shares
Details
Registrant CIK	0001753681
Fiscal Year End	--12-31
Registrant Name	Elite Performance Holding Corp.
SEC Form	10-Q
Period End date	Sep. 30, 2019
Tax Identification Number (TIN)	20-1801530
Number of common stock shares outstanding	65,424,300
Filer Category	Non-accelerated Filer
Current with reporting	Yes
Interactive Data Current	Yes
Shell Company	false
Small Business	true
Emerging Growth Company	false
Amendment Description	n
Entity File Number	000-55987
Entity Incorporation, State or Country Code	NV
Entity Address, Address Line One	7687 Charleston Way
Entity Address, City or Town	Port St. Lucie
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	34986
City Area Code	844
Local Phone Number	426-2958
Amendment Flag	true
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
Document Quarterly Report	true
Document Transition Report	false

Statement of Financial Position

Statement of Financial Position - USD ($)	Sep. 30, 2019	Dec. 31, 2018
CURRENT ASSETS
Cash	$ 0	$ 126
Inventory	100,122	139,140
Accounts Receivable	5,769	6,860
Prepaid Expenses	2,928	2,928
Total Current Assets	108,819	149,054
TOTAL ASSETS	108,819	149,054
CURRENT LIABILITIES
Bank overdraft		0
Accounts payable	218,742	112,844
Accounts payable related party	232,872	231,806
Accrued expenses	42,038	3,613
Convertible note payable (net of debt discount)	144,922	117,250
Note payable - related party	209,938	207,937
Total Current Liabilities	848,512	673,450
Total Liabilities	848,512	673,450
Preferred stock: $0.0001 par value, 35,000,000 shares authorized, 10,000,000 shares issued and outstanding as of September 30, 2019 and December 31, 2018	1,000	1,000
Common stock: $0.0001 par value, 465,000,000 shares authorized, 60,814,300 and 55,780,000 issued and outstanding as of September 30, 2019 and December 31, 2018 respectively	6,081	5,578
Shares to be issued	862,273	4,000
Additional paid-in capital	436,227	185,015
Accumulated deficit	(2,045,274)	(719,989)
Total Stockholders' Equity (Deficit)	(739,693)	(524,396)
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)	$ 108,819	$ 149,054

Income Statement

Income Statement - USD ($)	3 Months Ended		8 Months Ended	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2018	Sep. 30, 2019
Details
REVENUES	$ 10,468	$ 0	$ 0	$ 29,855
COST OF GOODS SOLD	26,270	0	0	47,232
GROSS PROFIT	(15,802)	0	0	(17,377)
OPERATING EXPENSES
Research and development	126	973	77,608	126
Legal and accounting	10,195	11,500	20,550	49,669
Advertising	234,628	0	26,484	518,108
Consulting	211,013	83,100	176,500	502,846
General and administrative	42,895	51,066	39,272	104,932
Total Operating Expenses	498,857	146,639	340,414	1,175,681
OPERATING LOSS	(514,659)	(146,639)	(340,414)	(1,193,058)
OTHER INCOME (EXPENSE)
Interest expense	(21,782)	(2,487)	(5,930)	(132,227)
Total Other Income (Expense)	(21,782)	(2,487)	(5,930)	(132,227)
NET LOSS	$ (536,441)	$ (149,126)	$ (346,344)	$ (1,325,285)
BASIC AND DILUTED NET LOSS PER COMMON SHARE	$ (0.01)	$ 0	$ (0.01)	$ (0.02)
BASIC AND DILUTED WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING	60,549,207	53,236,522	51,627,692	57,648,304

Statement of Cash Flows

Statement of Cash Flows - USD ($)	8 Months Ended	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES
NET LOSS	$ (346,344)	$ (1,325,285)
Items to reconcile net loss to net cash used in operating activities:
Change in Debt Discount	0	60,793
Shares issued for services	0	60,573
Prepayment penalty	0	30,000
Changes in operating assets and liabilities
Increase in inventory	(155,075)	39,018
Increase (decrease) in accounts receivable	0	1,091
Increase in prepaid expenses	0	0
Decrease in accounts payable - Related party	134,333	3,321
Increase in accounts payable and accrued liabilities	75,441	144,323
Net Cash Used in Operating Activities	(291,645)	(986,166)
CASH FLOWS FROM INVESTING ACTIVITIES
Payments on notes receivable related party	(30,000)
Effect of Acquisition	14,447	0
Net Cash Used in Financing Activities	(15,553)	0
CASH FLOWS FROM FINANCING ACTIVITIES
Payments on notes payable	0	(233,780)
Proceeds from notes payable related party	85,000	2,000
Proceeds from notes payable	0	315,375
Proceeds from Sale of stock	254,501	902,445
Net Cash Provided by Financing Activities	339,501	986,040
Increase (Decrease) in Cash	32,303	(126)
Cash and Cash Equivalents, at Carrying Value, Beginning Balance	0	126
Cash and Cash Equivalents, at Carrying Value, Ending Balance	$ 32,303	$ 0

Organization, Consolidation and

Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies	9 Months Ended
	Sep. 30, 2019
Notes
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies	Business Overview Elite Performance Holding Corporation ("EPH") was formed on January 30, 2018 (inception) and is a holding company with anticipated holdings in companies centered on innovative and proprietary nutritional and dietary fitness enhancement products, that are in the sports performance, weight loss, nutritional, functional beverage and energy markets. The team is composed of highly experienced business, marketing and sales executives in the beverage and nutritional space, who are passionate about health and nutrition. The mission of Elite Performance Holdings is to aggressively seek and acquire companies with niche products that are first to market and can be exploited in the 35 billion dollar nutritional and sport beverage industries. The goal of EPH is to effectuate its unique business model through strategic branding and marketing, to aggressively scale companies to size, and operate them efficiently to maximize growth, revenue production and eventual net income. On February 2, 2018, a contribution and assignment agreement was executed by Joseph Firestone and Jon McKenzie (collectively, the “Assignors”), and Elite Performance Holding Corp., a Nevada corporation (the “Assignee”). Whereas Firestone and McKenzie were the owners of 50,000,000 shares of common stock, $0.0001 par value, for a total of 100,000,000 shares of common stock (collectively, the “Shares”) of Elite Beverage International Corp., a Nevada corporation (the “Company”), which shares represented all authorized, issued and outstanding shares of the Company. Elite Beverage International is a 100% wholly owned subsidiary of Elite Performance Holding Corp. Elite Beverage is currently producing a first of its kind functional sports beverage. Beyond Your Limit Training (B.Y.L.T.) sports drink is the first to combine the benefits of hydration, muscle repair, fat oxidation, and recovery all-in-one great tasting beverage. Whether you are looking to achieve optimal performance on the baseball field, basketball court, soccer field, in the gym or any competitive sport, BYLT provides the competitive edge every athlete actively seeks. This unique product is designed with scientifically dosed key ingredients to bridge the gap between the current sports drinks filled with sugars that have serve no function, hydration beverages and dietary supplements, without the crash from sugars and jitters from caffeine which eventually leads to a decrease in performance for athletes. BYLT is not only designed to enhance performance and support the intense physical demand of athletes but be safe and backed by science. Our Products and Services Elite Beverages will offer a first to market functional beverage that redefines hydration and performance drinks using a patent pending amino/carbohydrate combination. The Smart Carb™ technology blend provides a unique benefit of hydration, endurance and sustained energy without caffeine, the crash of sugars, and without artificial flavors or colors making it the ideal sports beverage for health-conscious consumers and serious athletes alike. BYLT will introduce two flavors upon launch while planning to strategically introduce additional 6 flavors to support the launch after three to nine months of operation. These flavors will include Raspberry lemonade, Tropical Punch, Lemon Lime, Green Apple, Watermelon, Grape, Orange and Fruit Punch. NOTE 2 ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES These financial statements have been prepared on a going concern basis, which implies that the Company will continue to realize its assets and discharge its liabilities in the normal course of business. As of September 30, 2019, the company had an accumulated deficit of ($2,045,274). The continuation of the Company as a going concern is dependent upon the continued financial support from its management, its ability to generate profits from the Company’ s future operations, identify future investment opportunities and obtain the necessary debt or equity financing. These factors raise doubt regarding the Company’s ability to continue as a going concern. These financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. Accounting Methods The Company’s financial statements are prepared using the accrual method of accounting. The Company has elected a calendar year-end. Cash and Cash Equivalents We maintain the majority of our cash accounts at a commercial bank. The total cash balance is insured by the Federal Deposit Insurance Corporation (“FDIC”) up to $250,000 per commercial bank. For purposes of the statement of cash flows we consider all cash and highly liquid investments with initial maturities of one year or less to be cash equivalents. Accounts Receivable We grant credit to our customers located within the United States of America; and do not require collateral. Our ability to collect receivables is affected by economic fluctuations in the geographic areas and industries served by us. The allowance for doubtful trade receivables was $0 as of September 30, 2019 and December 31, 2018. Inventory Inventories are valued at the lower of weighted average cost or market value. Our industry experiences changes in technology, changes in market value and availability of raw materials, as well as changing customer demand. We make provisions for estimated excess and obsolete inventories based on regular audits and cycle counts of our on-hand inventory levels and forecasted customer demands and at times additional provisions are made. Any inventory write offs are charged to the reserve account. As of September 30, 2019, and December 31, 2018 we had no reserve for potentially obsolete inventory. We had $100,122 and $139,140 in inventory as of September 30, 2019 and December 31, 2018. Prepaid Expenses We had $2,928 and $2,928 in prepaid inventory and insurance as of September 30, 2019 and December 31, 2018 respectively. Basic and Diluted Loss Per Share The Company presents both basic and diluted earnings per share (EPS) on the face of the income statement. Basic EPS is computed by dividing net income (loss) available to common shareholders (numerator) by the weighted average number of shares outstanding (denominator) during the period. Diluted EPS gives effect to all dilutive potential common shares outstanding during the period including convertible debt, stock options, and warrants, using the treasury stock method, and convertible securities, using the if-converted method. In computing diluted EPS, the average stock price for the period is used in determining the number of shares assumed to be purchased from the exercise of stock options or warrants. Diluted EPS excludes all dilutive potential shares if their effect is anti-dilutive. The Company had net losses as of September 30, 2019 so the diluted EPS excluded all dilutive potential shares in the diluted EPS because their effect is anti-dilutive. As of September 30, 2019, the company had 10,000,000 outstanding shares of preferred stock which may be converted into 50,000,000 shares of common stock. Fair Value of Financial Instruments The carrying amount of accounts payable and accrued expenses are considered to be representative of their respective fair values because of the short-term nature of these financial instruments. Research and Development Research and development costs are expensed as incurred. Research and development expenses primarily consist of salaries and benefits for research and development employees, stock-based compensation, consulting fees, lab supplies, and regulatory compliance costs. We had $126 research and development R&D expense during the Three and nine months ended September 30, 2019. For the three months ended September 30, 2018 and the period January 30, 2018 (Inception) through September 30, 2018 we had $973 and $77,608 respectively in R&D expense. Use of Estimates The preparation of financial statements requires 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 financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Revenue Recognition Effective January 1, 2018, the Company adopted ASC 606 — Revenue from Contracts with Customers. Under ASC 606, the Company recognizes revenue from the commercial sales of products, licensing agreements and contracts to perform pilot studies by applying the following steps: (1) identify the contract with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to each performance obligation in the contract; and (5) recognize revenue when each performance obligation is satisfied. For the comparative periods, revenue has not been adjusted and continues to be reported under ASC 605 — Revenue Recognition. Under ASC 605, revenue is recognized when the following criteria are met: (1) persuasive evidence of an arrangement exists; (2) the performance of service has been rendered to a customer or delivery has occurred; (3) the amount of fee to be paid by a customer is fixed and determinable; and (4) the collectability of the fee is reasonably assured. The Company recognizes revenues and the related costs when persuasive evidence of an arrangement exists, delivery and acceptance has occurred, or service has been rendered, the price is fixed or determinable, and collection of the resulting receivable is reasonably assured. Amounts invoiced or collected in advance of product delivery or providing services are recorded as deferred revenue. The Company accrues for warranty costs, sales returns, bad debts, and other allowances based on its historical experience. For the nine months ended September 30, 2019 and the period January 30, 2018 (inception) through September 30, 2018 we had $29,855 and $0 respectively in revenue from the sale of our products. Income Taxes Federal Income taxes are not currently due since we have had losses since inception. On December 22, 2017 H.R. 1, originally known as the Tax Cuts and Jobs Act, (the “Tax Act”) was enacted. Among the significant changes to the U.S. Internal Revenue Code, the Tax Act lowers the U.S. federal corporate income tax rate (“Federal Tax Rate”) from 35% to 21% effective January 1, 2018. The Company will compute its income tax expense for the period January 30, 2018 (inception) through September 30, 2019 using a Federal Tax Rate of 21%. Income taxes are provided based upon the liability method of accounting pursuant to ASC 740-10-25 Income Taxes – Recognition. Deferred income tax amounts reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax reporting purposes. As of September 30, 2019, we had a net operating loss carry-forward of approximately $(2,045,274) and a deferred tax asset of $429,508 using the statutory rate of 21%. The deferred tax asset may be recognized in future periods, not to exceed 20 years. However, due to the uncertainty of future events we have booked valuation allowance of $(429,508). FASB ASC 740 prescribes recognition threshold and measurement attributes for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. FASB ASC 740 also provides guidance on de-recognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. At September 30, 2019 the Company had not taken any tax positions that would require disclosure under FASB ASC 740. Net deferred tax assets consist of the following components as of September 30, 2019 and December 31, 2018: September 30, 2019 December 31, 2018 Deferred tax assets: Deferred tax assets: $ 429,508 $ 147,470 Valuation allowance (429,508) (147,470) Net deferred tax asset $ - $ - Stock-Based Compensation The Company records stock-based compensation using the fair value method. Equity instruments issued to employees and the cost of the services received as consideration are accounted for in accordance with ASC 718 “Stock Compensation” and are measured and recognized based on the fair value of the equity instruments issued. All transactions with non-employees in which goods or services are the consideration received for the issuance of equity instruments are accounted for in accordance with ASC 515 “Equity-Based Payments to Non-Employees”, based on the fair value of the consideration received or the fair value of the equity instrument issued, whichever is more reliably measurable. Long Lived Assets Periodically the Company assesses potential impairment of its long-lived assets, which include property, equipment and acquired intangible assets, in accordance with the provisions of ASC Topic 360, “Property, Plant and Equipment.” The Company recognizes impairment losses on long-lived assets used in operations when indicators of impairment are present and the undiscounted cash flows estimated to be generated by those assets are less than the assets’ carrying values. An impairment loss would be recognized in the amount by which the recorded value of the asset exceeds the fair value of the asset, measured by the quoted market price of an asset or an estimate based on the best information available in the circumstances. There were no such losses recognized during the three and nine months ended September 30, 2019 and the period January 30, 2018 (Inception) through September 30, 2018. Property, Equipment and Intangible Assets Property and equipment are carried at cost, less accumulated depreciation. Additions are capitalized and maintenance and repairs are charged to expense as incurred. Intangible assets consist of acquired web site domains and web site content and are carried at cost, less accumulated amortization. Depreciation and amortization is provided principally on the straight-line basis method over the estimated useful lives of the assets. Recently Issued Accounting Standards The Company is reviewing the effects of following recent updates. The Company has no expectation that any of these items will have a material effect upon the financial statements. FASB ASU 2016-02 “Leases (Topic 842)” – · Update 2019-08—Compensation—Stock Compensation (Topic 718) and Revenue from Contracts with Customers (Topic 606): Codification Improvements—Share-Based Consideration Payable to a Customer · Update 2018-17—Consolidation (Topic 810): Targeted Improvements to Related Party Guidance for Variable Interest Entities · Update 2018-13—Fair Value Measurement (Topic 820): Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement · Update 2018-05—Income Taxes (Topic 740): Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 118 (SEC Update) Update 2017-13—Revenue Recognition (Topic 605), Revenue from Contracts with Customers (Topic 606), Leases (Topic 840), and Leases (Topic 842): Amendments to SEC Paragraphs Pursuant to the Staff Announcement at the July 20, 2017 EITF Meeting and Rescission of Prior SEC Staff Announcements and Observer Comments (SEC Update) · Update 2017-11—Earnings Per Share (Topic 260); Distinguishing Liabilities from Equity (Topic 480); Derivatives and Hedging (Topic 815): (Part I) Accounting for Certain Financial Instruments with Down Round Features, (Part II) Replacement of the Indefinite Deferral for Mandatorily Redeemable Financial Instruments of Certain Nonpublic Entities and Certain Mandatorily Redeemable Noncontrolling Interests with a Scope Exception

Stockholders' Equity Note Discl

Stockholders' Equity Note Disclosure	9 Months Ended
	Sep. 30, 2019
Notes
Stockholders' Equity Note Disclosure	NOTE 4 - COMMON STOCK AND COMMON STOCK WARRANTS Common Stock The Company has authorized a total of 400,000,000 Shares of Common Stock par value $0.0001 as of the December 31, 2017 audit for Elite Beverage International. However, Elite Performance Holding Corp. is now the successor company and as of September 30, 2019 now reflects 465,000,000 (Four Hundred Sixty-Five Million) shares authorized par value $0.0001. For the period ended December 31, 2017, the Elite Beverage International Corp. issued 100,000,000 shares of Common Stock for $19,000 to its management. On February 2, 2018 Elite Performance Holding Corp., owned and controlled by Firestone and McKenzie, acquired Elite Beverage International through a 1:2 common share exchange as follows: a). 50,000,000 common shares of Elite Performance Holdings Corp. in exchange for 100,000,000 common shares of Elite Beverage International Inc. Shares to be Registered in the S-1 Registration Statement As of September 30, 2019, the company has raised $507,000 ( 10,140,000 shares) through a registered offering for $1,250,000 which was registered with the SEC through an S1 registration statement which went effective on April 23, 2019. Restricted Shares issued On November 9, 2018 we issued 40,000 shares of common stock at $.05 per share which were subscribed for on October 9, 2018 for $2,000. These shares are restricted, and subject to SEC Rule 144. On December 13, 2018 the company issued 400,000 shares of restricted common stock for financing fees. These shares are restricted, and subject to SEC rule 144. We valued the shares at $.05 (price of the shares issued in the private placement) due to the lack of market activity and related price. On December 18, 2018 we issued 250,000 shares of restricted common stock per an agreement with Carter, Terry & Associates. These shares are restricted, and subject to SEC rule 144. We valued the shares at $.05 (price of the shares issued in the private placement) due to the lack of market activity and related price. On January 17, 2019 the Company issued 400,000 shares of common stock in consideration for the execution of a convertible note. These shares restricted and subject to SEC Rule 144. We valued the shares at $.05 (price of the shares issued in the private placement) due to the lack of market activity and related price. On October 9, 2018 we received $2,000 for a subscription for 40,000 shares of common stock. As of September 30, 2019, these shares were unissued. Restricted Shares to be issued On October 22, 2018 we received $2,000 for a subscription for 40,000 shares of common stock. As of September 30, 2019, these shares were unissued. As of September 30, 2019, we had 18,044,000 shares to be issued in the amount of $902,200 from stock subscriptions to accredited individuals. On September 26, 2019 First Fire elected to convert the remaining balance of $124,715 of the note dated December 10, 2018 for restricted shares at .05 cents a share thereby retiring the original note in full, the total shares to be issued was 2,494,300, which were subsequently issued on July 8, 2019. As of September 30, 2019, we had consulting agreements that had shares to be issued, for a total of 3,760,000 shares the vesting expense for these shares was $60,574 for the nine months ended September 30, 2019. Common Stock Warrants None. NOTE 5 - PREFERRED STOCK The Company has authorized a total of 35,000,000 Shares of Preferred Stock, $.0001 par value, which may be issued from time to time and bearing such rights, privileges and preferences as shall be designated by the Board of Directors. As of December 31, 2017, Elite Beverage International Corp had issued 10,000,000 Shares of Preferred Stock, designated as series A “Cumulative Preference ‘A’, for $1,000. 10,000,000 Series A preferred which carries super voting rights. Each preferred share carries 20 votes. On February 2, 2018 Elite Performance Holding Corp., owned and controlled by Firestone and McKenzie, acquired Elite Beverage International through a 1:1 preferred share exchange as follows. 10,000,000 Series A preferred shares of Elite Performance Holdings Corp. in exchange for 10,000,000 Series A preferred shares of Elite Beverage International Inc.

Substantial Doubt about Going C

Substantial Doubt about Going Concern	9 Months Ended
	Sep. 30, 2019
Notes
Substantial Doubt about Going Concern	NOTE 6 - GOING CONCERN The Company's financial statements are prepared using Generally Accepted Accounting Principles applicable to a going concern that contemplates the realization of assets and liquidation of liabilities in the normal course of business. However, the Company has recently accumulated significant losses and has negative working capital. All of these items raise substantial doubt about its ability to continue as a going concern. Management's plans with respect to alleviating the adverse financial conditions that caused management to express substantial doubt about the Company's ability to continue as a going concern are as follows: The Company is currently trying to raise new debt or equity to set up and market its line sports beverage products. If the Company is not successful in the development and implementation of a concept which produces positive cash flows from operations, the Company may be forced to continue to raise additional equity or debt financing to fund its ongoing obligations or risk ceasing doing business. There can be no assurance that the Company will be able to achieve its business plans, raise any more required capital or secure the financing necessary to achieve its current operating plan. The ability of the Company to continue as a going concern is dependent upon its ability to successfully accomplish the plan described in the preceding paragraph and eventually attain profitable operations.

Equity Method Investments and J

Equity Method Investments and Joint Ventures Disclosure	9 Months Ended
	Sep. 30, 2019
Notes
Equity Method Investments and Joint Ventures Disclosure	NOTE 7 – ACQUISITIONS Stock Exchange Agreement – Elite Beverage Holdings Corp. On February 2, 2018, the Company closed on an Stock Exchange Agreement (“SEA”) with Elite Beverage International Corp. Pursuant to the SEA, we purchased all of Joey Firestone and Jon McKenzie’s 100,000,000 common shares and 10,000,000 preferred shares in Elite Beverage International Corp., which gave the Company ownership of all of its assets and liabilities in exchange for 50,000,000 common shares and 10,000,000 preferred shares of the Company. Elite Beverage was formed on November 29, 2017 (inception) and is currently producing a first of its kind functional sports beverage. Beyond Your Limit Training (B.Y.L.T.) sports drink is the first to combine the benefits of hydration, muscle repair, fat oxidation, and recovery all-in-one great tasting beverage. Whether you are looking to achieve optimal performance on the baseball field, basketball court, soccer field, in the gym or any competitive sport, BYLT provides the competitive edge every athlete actively seeks. This unique product is designed with scientifically dosed key ingredients to bridge the gap between the current sports drinks filled with sugars that have serve no function, hydration beverages and dietary supplements, without the crash from sugars and jitters from caffeine which eventually leads to a decrease in performance for athletes. BYLT is not only designed to enhance performance and support the intense physical demand of athletes but be safe and backed by science. This acquisition was accounted for as an acquisition by entities under common control due to the fact that both Elite Performance Holdings Corp. and Elite Beverage International Corp. were and continue to be commonly held by Joey Firestone and Jon McKenzie. The ownership structure of the Company did not change as a result nor did any of its officers change positions. As the assets acquired were from an entity under common control, the assets from Elite Beverage International Corp. have been combined at historical cost for all periods presented, with no step-up in basis. See below for the recognition entry for the stock issued for the acquisition: Additional paid-in-capital $ 6,000 Common stock, based on par value of $0.0001 $ (5,000 ) Preferred stock, based on par value of $0.0001 $ (1,000 ) Also pursuant to ASC Section 805-50-45, financial statements and financial information presented for the period ended have been retrospectively adjusted to furnish comparative information. Therefore, the accompanying combined financial statements as of and for the period from January 30, 2018 (inception) to September 30, 2019 present the combined financial position and results of operations of the Company and Elite Beverage International Corp. despite the acquisition occurring on February 2, 2018. Intercompany transactions occurred on or after January 30, 2018 have been eliminated. Likewise, for the period from January 30, 2018 through February 2, 2018, effects of any intra-entity transactions (between the Company and Elite Beverage International Corp.) have been eliminated, resulting in operations for the period prior to Acquisition date essentially being on the same basis as operations post Acquisition date.

Debt Disclosure

Debt Disclosure	9 Months Ended
	Sep. 30, 2019
Notes
Debt Disclosure	NOTE 8 – NOTES PAYABLE On March 12, 2019, we entered into a production funding line of credit agreement with Gourmet Growth LLC. And received an initial advance of $150,000. This was paid in full during the three months ending September 30, 2019 and the outstanding balance was $0. NOTE 9 – CONVERTIBLE NOTES PAYABLE On December 10, 2018 we entered into a Senior Secured Promissory note with First Fire Global Opportunities Fund, LLC in the amount of $157,500 with an interest rate of 8% per annum and a maturity date of May 10, 2019. The note carries a prepayment feature and a default provision that allows, in the event of default, for a conversion of debt into equity at a fixed price of $.05, or if publicly traded, at the rate of the lesser of $.05 or the lowest of 65% of the 20 previous trading days from the notice of conversion, or based on any subsequent financings with better terms to other investors. On April 30, 2019 we paid $62,500 and on May 14, 2019 we paid an additional $7,500, bringing the outstanding balance to $87,500 and as a result we incurred a prepayment penalty of $30,000. On July 2, 2019 First Fire elected to convert the remaining balance of $117,500 plus accrued interest of $7,215 for a total of $124,715 of the note dated December 10, 2018 for restricted shares at .05 cents a share thereby retiring the original note in full, the total shares to be issued was 2,494,300, which were subsequently issued on July 3, 2019. On December 12, 2018 the Company issued 400,000 shares of common stock in consideration for the execution of this note. These shares are restricted and subject to SEC Rule 144. This note had $25,500 in original discount and $20,000 in discount for the 400,000 shares issued. The original debt discount was $45,500; we amortized $40,250 for the Nine months ended September 30, 2019 and we had a remaining debt discount of $0 as of September 30, 2019 On January 7, 2019 we issued a convertible promissory note to David Stoccardo in the amount of $157,500 with an interest rate of 8% per annum and a maturity date of January 8, 2020. The note carries a prepayment feature or is convertible 180 days from the date of the note, at a fixed price of $.05 or if publicly traded at the rate of the lessor of $.05 or the lowest of 65% of the lowest closing bid price for 3 trading days previous to the conversion or based on any subsequent financings with better terms to other investors. On January 17, 2019 the Company issued 400,000 shares of common stock in consideration for the execution of this note. These shares restricted and subject to SEC Rule 144. These shares were valued at $20,000. This note also included an original discount fee of $ $7,500 , we amortized $13,517 during the nine months ended September 30, 2019 and had an outstanding balance of $7,578 as of September 30, 2019. On May 14, 2019 we paid $5,000 of principal on this note and as of September 30, 2019 the outstanding balance was $152,500. On March 28, 2019 we issued a convertible promissory note to David Stoccardo in the amount of $7,875 with an interest rate of 8% per annum and a maturity date of January 8, 2020. The note carries a prepayment feature or is convertible 180 days from the date of the note, at a fixed price of $.05 or if publicly traded at the rate of the lessor of $.05 or the lowest of 65% of the lowest closing bid price for 3 trading days previous to the conversion or based on any subsequent financings with better terms to other investors. This note included an original discount fee of $375, we amortized $375 during the Three and Nine months ended September 30, 2019 and had an outstanding balance of $0 as of September 30, 2019. On April 26, 2019 this note was paid in full.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2019
Notes
Subsequent Events	NOTE 10 - SUBSEQUENT EVENTS In October 2018, the Company filed an S-1 Registration Statement registering 25,000,000 shares of common stock. On April 23, 2019 the Company received a notification from the SEC that the Registration Statement was declared effective. From October 01, 2019 to February 25, 2020 the company received $74,500 in subscriptions for a total of 1,490,000 shares to be issued. The Company also executed two promissory notes on December 04, 2019 in the amount of $189,000 and January 21, 2020 in the amount of $157,500 with a private lender, HG Trust. Both promissory notes bear a 12 month maturity date at 8% interest. A total of 900,000 restricted common shares were issued to HG Trust as commitment shares for these two notes.

Organization, Consolidation a_2

Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies: Basis of Accounting, Policy (Policies)	9 Months Ended
	Sep. 30, 2019
Policies
Basis of Accounting, Policy	Accounting Methods The Company’s financial statements are prepared using the accrual method of accounting. The Company has elected a calendar year-end.

Organization, Consolidation a_3

Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies: Cash and Cash Equivalents, Policy (Policies)	9 Months Ended
	Sep. 30, 2019
Policies
Cash and Cash Equivalents, Policy	Cash and Cash Equivalents We maintain the majority of our cash accounts at a commercial bank. The total cash balance is insured by the Federal Deposit Insurance Corporation (“FDIC”) up to $250,000 per commercial bank. For purposes of the statement of cash flows we consider all cash and highly liquid investments with initial maturities of one year or less to be cash equivalents.

Organization, Consolidation a_4

Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies: Receivable (Policies)	9 Months Ended
	Sep. 30, 2019
Policies
Receivable	Accounts Receivable We grant credit to our customers located within the United States of America; and do not require collateral. Our ability to collect receivables is affected by economic fluctuations in the geographic areas and industries served by us. The allowance for doubtful trade receivables was $0 as of September 30, 2019 and December 31, 2018.

Organization, Consolidation a_5

Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies: Inventory, Policy (Policies)	9 Months Ended
	Sep. 30, 2019
Policies
Inventory, Policy	Inventory Inventories are valued at the lower of weighted average cost or market value. Our industry experiences changes in technology, changes in market value and availability of raw materials, as well as changing customer demand. We make provisions for estimated excess and obsolete inventories based on regular audits and cycle counts of our on-hand inventory levels and forecasted customer demands and at times additional provisions are made. Any inventory write offs are charged to the reserve account. As of September 30, 2019, and December 31, 2018 we had no reserve for potentially obsolete inventory. We had $100,122 and $139,140 in inventory as of September 30, 2019 and December 31, 2018.

Organization, Consolidation a_6

Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies: Earnings Per Share, Policy (Policies)	9 Months Ended
	Sep. 30, 2019
Policies
Earnings Per Share, Policy	Basic and Diluted Loss Per Share The Company presents both basic and diluted earnings per share (EPS) on the face of the income statement. Basic EPS is computed by dividing net income (loss) available to common shareholders (numerator) by the weighted average number of shares outstanding (denominator) during the period. Diluted EPS gives effect to all dilutive potential common shares outstanding during the period including convertible debt, stock options, and warrants, using the treasury stock method, and convertible securities, using the if-converted method. In computing diluted EPS, the average stock price for the period is used in determining the number of shares assumed to be purchased from the exercise of stock options or warrants. Diluted EPS excludes all dilutive potential shares if their effect is anti-dilutive. The Company had net losses as of September 30, 2019 so the diluted EPS excluded all dilutive potential shares in the diluted EPS because their effect is anti-dilutive. As of September 30, 2019, the company had 10,000,000 outstanding shares of preferred stock which may be converted into 50,000,000 shares of common stock.

Organization, Consolidation a_7

Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies: Fair Value Measurement, Policy (Policies)	9 Months Ended
	Sep. 30, 2019
Policies
Fair Value Measurement, Policy	Fair Value of Financial Instruments The carrying amount of accounts payable and accrued expenses are considered to be representative of their respective fair values because of the short-term nature of these financial instruments.

Organization, Consolidation a_8

Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies: Research, Development, and Computer Software, Policy (Policies)	9 Months Ended
	Sep. 30, 2019
Policies
Research, Development, and Computer Software, Policy	Research and Development Research and development costs are expensed as incurred. Research and development expenses primarily consist of salaries and benefits for research and development employees, stock-based compensation, consulting fees, lab supplies, and regulatory compliance costs. We had $126 research and development R&D expense during the Three and nine months ended September 30, 2019. For the three months ended September 30, 2018 and the period January 30, 2018 (Inception) through September 30, 2018 we had $973 and $77,608 respectively in R&D expense.

Organization, Consolidation a_9

Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies: Use of Estimates, Policy (Policies)	9 Months Ended
	Sep. 30, 2019
Policies
Use of Estimates, Policy	Use of Estimates The preparation of financial statements requires 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 financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Organization, Consolidation _10

Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies: Revenue from Contract with Customer (Policies)	9 Months Ended
	Sep. 30, 2019
Policies
Revenue from Contract with Customer	Revenue Recognition Effective January 1, 2018, the Company adopted ASC 606 — Revenue from Contracts with Customers. Under ASC 606, the Company recognizes revenue from the commercial sales of products, licensing agreements and contracts to perform pilot studies by applying the following steps: (1) identify the contract with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to each performance obligation in the contract; and (5) recognize revenue when each performance obligation is satisfied. For the comparative periods, revenue has not been adjusted and continues to be reported under ASC 605 — Revenue Recognition. Under ASC 605, revenue is recognized when the following criteria are met: (1) persuasive evidence of an arrangement exists; (2) the performance of service has been rendered to a customer or delivery has occurred; (3) the amount of fee to be paid by a customer is fixed and determinable; and (4) the collectability of the fee is reasonably assured. The Company recognizes revenues and the related costs when persuasive evidence of an arrangement exists, delivery and acceptance has occurred, or service has been rendered, the price is fixed or determinable, and collection of the resulting receivable is reasonably assured. Amounts invoiced or collected in advance of product delivery or providing services are recorded as deferred revenue. The Company accrues for warranty costs, sales returns, bad debts, and other allowances based on its historical experience. For the nine months ended September 30, 2019 and the period January 30, 2018 (inception) through September 30, 2018 we had $29,855 and $0 respectively in revenue from the sale of our products.

Organization, Consolidation _11

Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies: Income Tax, Policy (Policies)	9 Months Ended
	Sep. 30, 2019
Policies
Income Tax, Policy	Income Taxes Federal Income taxes are not currently due since we have had losses since inception. On December 22, 2017 H.R. 1, originally known as the Tax Cuts and Jobs Act, (the “Tax Act”) was enacted. Among the significant changes to the U.S. Internal Revenue Code, the Tax Act lowers the U.S. federal corporate income tax rate (“Federal Tax Rate”) from 35% to 21% effective January 1, 2018. The Company will compute its income tax expense for the period January 30, 2018 (inception) through September 30, 2019 using a Federal Tax Rate of 21%. Income taxes are provided based upon the liability method of accounting pursuant to ASC 740-10-25 Income Taxes – Recognition. Deferred income tax amounts reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax reporting purposes. As of September 30, 2019, we had a net operating loss carry-forward of approximately $(2,045,274) and a deferred tax asset of $429,508 using the statutory rate of 21%. The deferred tax asset may be recognized in future periods, not to exceed 20 years. However, due to the uncertainty of future events we have booked valuation allowance of $(429,508). FASB ASC 740 prescribes recognition threshold and measurement attributes for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. FASB ASC 740 also provides guidance on de-recognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. At September 30, 2019 the Company had not taken any tax positions that would require disclosure under FASB ASC 740. Net deferred tax assets consist of the following components as of September 30, 2019 and December 31, 2018: September 30, 2019 December 31, 2018 Deferred tax assets: Deferred tax assets: $ 429,508 $ 147,470 Valuation allowance (429,508) (147,470) Net deferred tax asset $ - $ -

Organization, Consolidation _12

Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies: Compensation Related Costs, Policy (Policies)	9 Months Ended
	Sep. 30, 2019
Policies
Compensation Related Costs, Policy	Stock-Based Compensation The Company records stock-based compensation using the fair value method. Equity instruments issued to employees and the cost of the services received as consideration are accounted for in accordance with ASC 718 “Stock Compensation” and are measured and recognized based on the fair value of the equity instruments issued. All transactions with non-employees in which goods or services are the consideration received for the issuance of equity instruments are accounted for in accordance with ASC 515 “Equity-Based Payments to Non-Employees”, based on the fair value of the consideration received or the fair value of the equity instrument issued, whichever is more reliably measurable.

Organization, Consolidation _13

Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies: Impairment or Disposal of Long-Lived Assets, Policy (Policies)	9 Months Ended
	Sep. 30, 2019
Policies
Impairment or Disposal of Long-Lived Assets, Policy	Long Lived Assets Periodically the Company assesses potential impairment of its long-lived assets, which include property, equipment and acquired intangible assets, in accordance with the provisions of ASC Topic 360, “Property, Plant and Equipment.” The Company recognizes impairment losses on long-lived assets used in operations when indicators of impairment are present and the undiscounted cash flows estimated to be generated by those assets are less than the assets’ carrying values. An impairment loss would be recognized in the amount by which the recorded value of the asset exceeds the fair value of the asset, measured by the quoted market price of an asset or an estimate based on the best information available in the circumstances. There were no such losses recognized during the three and nine months ended September 30, 2019 and the period January 30, 2018 (Inception) through September 30, 2018.

Organization, Consolidation _14

Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies: Property, Plant and Equipment, Policy (Policies)	9 Months Ended
	Sep. 30, 2019
Policies
Property, Plant and Equipment, Policy	Property, Equipment and Intangible Assets Property and equipment are carried at cost, less accumulated depreciation. Additions are capitalized and maintenance and repairs are charged to expense as incurred. Intangible assets consist of acquired web site domains and web site content and are carried at cost, less accumulated amortization. Depreciation and amortization is provided principally on the straight-line basis method over the estimated useful lives of the assets.

Organization, Consolidation _15

Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies: New Accounting Pronouncements, Policy (Policies)	9 Months Ended
	Sep. 30, 2019
Policies
New Accounting Pronouncements, Policy	Recently Issued Accounting Standards The Company is reviewing the effects of following recent updates. The Company has no expectation that any of these items will have a material effect upon the financial statements. FASB ASU 2016-02 “Leases (Topic 842)” – · Update 2019-08—Compensation—Stock Compensation (Topic 718) and Revenue from Contracts with Customers (Topic 606): Codification Improvements—Share-Based Consideration Payable to a Customer · Update 2018-17—Consolidation (Topic 810): Targeted Improvements to Related Party Guidance for Variable Interest Entities · Update 2018-13—Fair Value Measurement (Topic 820): Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement · Update 2018-05—Income Taxes (Topic 740): Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 118 (SEC Update) Update 2017-13—Revenue Recognition (Topic 605), Revenue from Contracts with Customers (Topic 606), Leases (Topic 840), and Leases (Topic 842): Amendments to SEC Paragraphs Pursuant to the Staff Announcement at the July 20, 2017 EITF Meeting and Rescission of Prior SEC Staff Announcements and Observer Comments (SEC Update) · Update 2017-11—Earnings Per Share (Topic 260); Distinguishing Liabilities from Equity (Topic 480); Derivatives and Hedging (Topic 815): (Part I) Accounting for Certain Financial Instruments with Down Round Features, (Part II) Replacement of the Indefinite Deferral for Mandatorily Redeemable Financial Instruments of Certain Nonpublic Entities and Certain Mandatorily Redeemable Noncontrolling Interests with a Scope Exception

Organization, Consolidation _16

Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies: Income Tax, Policy: Schedule of Deferred Tax Assets and Liabilities (Tables)	9 Months Ended
	Sep. 30, 2019
Tables/Schedules
Schedule of Deferred Tax Assets and Liabilities	September 30, 2019 December 31, 2018 Deferred tax assets: Deferred tax assets: $ 429,508 $ 147,470 Valuation allowance (429,508) (147,470) Net deferred tax asset $ - $ -

Organization, Consolidation _17

Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies: Income Tax, Policy: Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($)	Sep. 30, 2019	Dec. 31, 2018
Details
Deferred tax assets:	$ 429,508	$ 147,470
Valuation allowance	(429,508)	(147,470)
Net deferred tax asset	$ 0	$ 0

Stockholders' Equity Note Dis_2

Stockholders' Equity Note Disclosure (Details) - $ / shares	Jan. 17, 2019	Dec. 18, 2018	Dec. 13, 2018	Nov. 09, 2018
Details
Shares, Issued	400,000	250,000	400,000	40,000
Shares Issued, Price Per Share	$ 0.05	$ 0.05	$ 0.05	$ 0.05