Cover
Cover - USD ($) | 12 Months Ended | ||
Dec. 31, 2021 | Apr. 21, 2022 | Jun. 30, 2021 | |
Cover [Abstract] | |||
Entity Registrant Name | EVIL EMPIRE DESIGNS, INC. | ||
Entity Central Index Key | 0001759424 | ||
Document Type | 10-K | ||
Amendment Flag | false | ||
Entity Voluntary Filers | No | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Well Known Seasoned Issuer | No | ||
Entity Small Business | true | ||
Entity Shell Company | false | ||
Entity Emerging Growth Company | true | ||
Entity Current Reporting Status | Yes | ||
Document Period End Date | Dec. 31, 2021 | ||
Entity Filer Category | Non-accelerated Filer | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2021 | ||
Entity Ex Transition Period | true | ||
Entity Common Stock Shares Outstanding | 8,447,750 | ||
Entity Public Float | $ 0 | ||
Document Annual Report | true | ||
Document Transition Report | false | ||
Entity File Number | 000-56212 | ||
Entity Incorporation State Country Code | NV | ||
Entity Tax Identification Number | 45-5530035 | ||
Entity Address Address Line 1 | 441 Eastgate Rd. | ||
Entity Address City Or Town | Henderson | ||
Entity Address State Or Province | NV | ||
Entity Address Postal Zip Code | 89011 | ||
City Area Code | 725 | ||
Icfr Auditor Attestation Flag | false | ||
Auditor Firm Id | 6285 | ||
Auditor Name | Boyle CPA, LLC | ||
Auditor Location | Red Bank, NJ | ||
Local Phone Number | 666-3700 | ||
Entity Interactive Data Current | Yes | ||
Security 12g Title | Common Stock, $.001 Par Value |
BALANCE SHEETS
BALANCE SHEETS - USD ($) | Dec. 31, 2021 | Dec. 31, 2020 |
Current Assets: | ||
Cash And Cash Equivalents | $ 0 | $ 5,265 |
Accounts Receivable | 6,365 | 0 |
Inventory | 1,736 | 1,689 |
Other Current Assets | 2,268 | 0 |
Total Current Assets | 10,369 | 6,954 |
Fixed Assets | ||
Fixed Assets, Net Of Depreciation Of $35,246 And $29,196 | 12,967 | 19,016 |
Other Assets- Investment | 182,500 | 155,000 |
Note Receivable- Tol | 100,000 | 0 |
Total Assets | 305,836 | 180,970 |
Current Liabilities: | ||
Bank Overdraft | 18 | 0 |
Accounts Payable And Accrued Expenses | 142,546 | 104,581 |
Convertible Notes Payable | 377,125 | 323,329 |
Notes Payable | 145,030 | 45,000 |
Total Current Liabilities | 664,719 | 472,910 |
Stockholders' Deficit: | ||
Common Stock, $0.001 Par Value 100,000,000 Authorized 8,057,750 And 8,057,750, Issued And Outstanding, Respectively: | 8,058 | 8,058 |
Additional Paid In Capital | 222,757 | 222,757 |
Accumulated Deficit | (589,698) | (522,755) |
Total Stockholders' Deficit | (358,883) | (291,940) |
Total Liabilities And Stockholders' Deficit | $ 305,836 | $ 180,970 |
BALANCE SHEETS (Parenthetical)
BALANCE SHEETS (Parenthetical) - USD ($) | Dec. 31, 2021 | Dec. 31, 2020 |
BALANCE SHEETS | ||
Fixed Assets, Net Of Depriciation | $ 35,246 | $ 29,196 |
Preferred Stock, Shares Par Value | $ 0.001 | $ 0.001 |
Preferred Stock, Shares Authorized | 25,000,000 | 25,000,000 |
Preferred Stock, Shares Issued | 0 | 0 |
Preferred Stock, Shares Outstanding | 0 | 0 |
Common Stock, Shares Par Value | $ 0.001 | $ 0.001 |
Common Stock, Shares Authorized | 100,000,000 | 100,000,000 |
Common Stock, Shares Issued | 8,057,750 | 8,057,750 |
Common Stock, Shares Outstanding | 8,057,750 | 8,057,750 |
STATEMENTS OF OPERATIONS
STATEMENTS OF OPERATIONS - USD ($) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
STATEMENTS OF OPERATIONS | ||
Revenue | $ 25,927 | $ 12,797 |
Cost Of Goods | 11,563 | 878 |
Gross Margin | 14,364 | 11,919 |
Operating Expenses: | ||
Amortization And Depreciation | 6,049 | 9,725 |
Consulting | 17,535 | 31,387 |
General And Administrative Expenses | 19,676 | 119,430 |
Total Operating Expenses | 43,260 | 160,542 |
Loss From Operations | (28,896) | (148,623) |
Other Income(expense) | ||
Other Income | 2,968 | 0 |
Interest Expense | (41,015) | (25,257) |
Total Other Income (expense) | (38,048) | (25,257) |
Net Loss | $ (66,943) | $ (173,880) |
Net Loss Per Share, Basic And Diluted | $ (0.01) | $ (0.02) |
Weighted Average Number Of Shares Outstanding | 8,057,750 | 7,945,694 |
STATEMENTS OF STOCKHOLDERS DEFI
STATEMENTS OF STOCKHOLDERS DEFICIT - USD ($) | Total | Common Stock | Additional Paid-In Capital | Retained Earnings (Accumulated Deficit) |
Balance, Shares at Dec. 31, 2019 | 7,767,500 | |||
Balance, Amount at Dec. 31, 2019 | $ (214,010) | $ 7,768 | $ 127,097 | $ (348,875) |
Common Stock Issued For Cash, Shares | 290,250 | |||
Common Stock Issued For Cash, Amount | 55,950 | $ 290 | 55,660 | 0 |
Contribution Of Investment | 40,000 | 40,000 | ||
Net Loss | (173,880) | (173,880) | ||
Balance, Shares at Dec. 31, 2020 | 8,057,750 | |||
Balance, Amount at Dec. 31, 2020 | (291,940) | $ 8,058 | 222,757 | (522,755) |
Net Loss | (66,943) | (66,943) | ||
Balance, Shares at Dec. 31, 2021 | 8,057,750 | |||
Balance, Amount at Dec. 31, 2021 | $ (358,883) | $ 8,058 | $ 222,757 | $ (589,698) |
STATEMENTS OF CASH FLOWS
STATEMENTS OF CASH FLOWS - USD ($) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Cash Flows From Operating Activities: | ||
Net Loss | $ (66,943) | $ (173,880) |
Adjustments To Reconcile Net Loss From Operations To Net Cash Used In Operating Activities: | ||
Depreciation And Amortization | 6,049 | 9,757 |
Changes In Operating Assets And Liabilities: | ||
Accounts Receivable | (6,365) | |
Other Current Assets | (2,268) | 73 |
Inventory | (47) | 9,416 |
Accounts Payable And Accrued Expenses | 37,965 | 25,284 |
Net Cash Used In Operating Activities | (31,609) | (129,350) |
Cash Flows Used In Investing Activities | ||
Investments | (127,500) | $ (115,000) |
Acquisition Of Fixed Assets | (12,092) | |
Net Cash Used In Investing Activities | (127,500) | $ (127,092) |
Cash Flows From Financing Activities | ||
Bank Overdraft | 18 | 0 |
Sale Of Common Stock | 0 | 55,950 |
Proceeds From Notes Payable | 100,030 | 45,000 |
Proceeds From Convertible Note Payable | 53,796 | 141,660 |
Net Cash Provided By Financing Activities | 153,844 | 242,610 |
Net Increase (decrease) In Cash | (5,265) | (13,832) |
Cash - Beginning Of Period | 5,265 | 19,097 |
Cash - End Of Period | $ 0 | 5,265 |
Non-monetory Transations | ||
Contribution Of Investment | $ 40,000 |
NATURE OF BUSINESS
NATURE OF BUSINESS | 12 Months Ended |
Dec. 31, 2021 | |
NATURE OF BUSINESS | |
Note 1 - Nature Of Business | NOTE 1 – NATURE OF BUSINESS Evil Empire Designs, Inc., (formerly Jaycor Resources Inc.) (Jaycor) was organized on December 23, 2009 under the name US Terra Energy Corp in the State of Nevada. The Company was organized to explore investment opportunities in the energy business. In June 2016 the Company changed its business model to making and selling accessories to the motorcycle market. The Company authorized 125,000,000 shares consisting of 100,000,000 of common stock with a par value of $0.001 per share and 25,000,000 shares of preferred stock with a par value of $0.001 per share. On April 24, 2012, the Company filed a Certificate of Amendment amending the Articles of Incorporation changing the name of the Corporation to Jaycor Resources, Inc. On September 21, 2016, the Company filed a Certificate of Amendment amending the Articles of Incorporation changing the name of the Corporation to Evil Empire Designs, Inc. |
SIGNIFICANT ACCOUNTING POLICIES
SIGNIFICANT ACCOUNTING POLICIES | 12 Months Ended |
Dec. 31, 2021 | |
SIGNIFICANT ACCOUNTING POLICIES | |
Note 2 - Significant Accounting Policies | NOTE 2 – SIGNIFICANT ACCOUNTING POLICIES Basis of presentation These financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for financial information and reflect all adjustments which, in the opinion of management, are necessary for a fair presentation. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the balance sheet. Actual results could differ from those estimates. Cash and Cash Equivalents The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. As of December 31, 2021 and 2020 the Company did not have any cash equivalents. Accounts receivable Accounts receivable are carried at face value less any provisions for uncollectible accounts considered necessary. Accounts receivable include receivables from customers that have received their product order. Bad debt expense is a recognition of uncollectable receivables based on past years’ experience and management’s estimate of likely losses for the year. At December 31, 2021, the accounts receivable was with one customer, who is also a lender of the Company. No allowance for bad debt was considered necessary as of December 31, 2021 and 2020, respectively. Inventory Inventories are stated at the lower or cost of market using the first-in; first-out (FIFO) cost method of accounting. The inventory consists of raw materials used to make various products for sale. Revenue recognition Revenue is recognized when control of the promised goods or services is transferred to the Company’s customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. Property and Equipment Property and equipment is recorded at cost less accumulated depreciation. Depreciation is calculated using the straight-line method over the expected useful life of the asset (3 to 5 years), beginning when the asset is available and ready for use. Expenditures associated with upgrades and enhancements that improve, add functionality, or otherwise extend the life of property and equipment are capitalized, while expenditures that do not, such as repairs and maintenance, are expensed as incurred. For the years ended December 31, 2021 and 2020, depreciation and amortization expense totaled $6,049 and $9,725, respectively. Impairment of long-lived assets The Company reviews the carrying value of its long-lived assets annually or whenever events or changes in circumstances indicate that the historical-cost carrying value of an asset may no longer be appropriate. The Company assesses recoverability of the asset by comparing the undiscounted future net cash flows expected to result from the asset to its carrying value. If the carrying value exceeds the undiscounted future net cash flows of the asset, an impairment loss is measured and recognized. An impairment loss is measured as the difference between the net book value and the fair value of the long-lived asset. Fair value is estimated based upon either discounted cash flow analysis or estimated salvage value. As of December 31, 2021 and 2020 no impairment losses have been recognized. Income Taxes Deferred tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. A valuation allowance is established when necessary to reduce deferred tax assets to the amounts expected to be realized. The Company accounts for income taxes under the provisions of Financial Accounting Standards Board) Accounting Standards Codification 740, Accounting for Income Taxes The Company classifies penalties and interest related to unrecognized tax benefits as income tax expense in the Statements of Operations. Basic and diluted net loss per share Basic and diluted net loss per share calculations are calculated on the basis of the weighted average number of common shares outstanding during the year. Diluted loss per share calculations includes the dilutive effect of common stock. Basic and diluted net loss per share is the same due to the absence of common stock equivalents. Fair Value of Financial Instruments The Company’s financial instruments consist of cash and cash equivalents, accounts payable and accrued expenses and shareholder loans. The carrying amount of these financial instruments approximates fair value due either to length of maturity or interest rates that approximate prevailing market rates unless otherwise disclosed in these financial statements. Financial assets and liabilities recorded at fair value in our condensed consolidated balance sheets are categorized based upon a fair value hierarchy established by GAAP, which prioritizes the inputs used to measure fair value into the following levels: Level 1— Quoted market prices in active markets for identical assets or liabilities at the measurement date. Level 2— Quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; or other inputs that are observable and can be corroborated by observable market data. Level 3— Inputs reflecting management’s best estimates and assumptions of what market participants would use in pricing assets or liabilities at the measurement date. The inputs are unobservable in the market and significant to the valuation of the instruments. A financial instrument's categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. Related Parties A party is considered to be related to the Company if the party directly or indirectly or through one or more intermediaries, controls, is controlled by, or is under common control with the Company. Related parties also include principal owners of the Company, its management, members of the immediate families of principal owners of the Company and its management and other parties with which the Company may deal if one party controls or can significantly influence the management or operating policies of the other to an extent that one of the transacting parties might be prevented from fully pursuing its own separate interests. A party which can significantly influence the management or operating policies of the transacting parties or if it has an ownership interest in one of the transacting parties and can significantly influence the other to an extent that one or more of the transacting parties might be prevented from fully pursuing its own separate interests is also a related party. |
GOING CONCERN
GOING CONCERN | 12 Months Ended |
Dec. 31, 2021 | |
GOING CONCERN | |
Note 3 - Going Concern | NOTE 3 – GOING CONCERN The Company’s financial statements are prepared using accounting principles generally accepted in the United States of America applicable to a going concern that contemplates the realization of assets and liquidation of liabilities in the normal course of business. The Company, as shown in the accompanying balance sheets, has an accumulated deficit of $589,698 and $522,755 as of December 31, 2021 and 2020. The Company is establishing nominal source of revenue to cover its operating costs. These factors raise substantial doubt as to the Company’s ability to continue as a going concern for a period of one year from the issuance of these financial statements. The Company will engage in very limited activities that must be satisfied in cash until a source of funding is secured. The Company will offer noncash consideration and seek equity lines as a means of financing its operations. If the Company is unable to obtain revenue producing contracts or financing or if the revenue or financing it does obtain is insufficient to cover any operating losses it may incur, it may substantially curtail or terminate its operations or seek other business opportunities through strategic alliances, acquisitions or other arrangements that may dilute the interests of existing stockholders. |
PROPERTY AND EQUIPMENT
PROPERTY AND EQUIPMENT | 12 Months Ended |
Dec. 31, 2021 | |
PROPERTY AND EQUIPMENT | |
Note 4 - Property And Equipment | NOTE 4 – PROPERTY AND EQUIPMENT Property and equipment consisted of the following at December 31, 2021 and 2020: December 31. 2021 December 31, 2020 Property and equipment $ 48,213 $ 48,212 Less: accumulation depreciation 35,246 29,196 Net property and equipment 12,967 19,016 Depreciation expense totaled $6,049 and $9,725 for the years ended December 31, 2021 and, 2020, respectively. The assets are being depreciated over a 3 year life. |
OTHER ASSETS
OTHER ASSETS | 12 Months Ended |
Dec. 31, 2021 | |
OTHER ASSETS | |
Note 5 - Other Assets | NOTE 5 – OTHER ASSETS On December 12,2019 the Company entered into a memorandum of Understanding with Top of the Line Designs, LLC. (TOL) and its owner Sean Belitsos. Under the terms of the agreement, the Company will purchase TOL for $350,000. As of December 31, 2021 the Company has paid TOL $282,500 which is carried as other asset on the Company balance sheet. The Company owes TOL $67,500 to complete the transaction. |
INCOME TAXES
INCOME TAXES | 12 Months Ended |
Dec. 31, 2021 | |
INCOME TAXES | |
Note 6 - Income Taxes | NOTE 6 – INCOME TAXES At December 31, 2021 and 2020, the Company had a federal net operating loss carry forward of approximately $348,875 and $522,755, respectively. Components of net deferred tax assets, including a valuation allowance, are as follows at December 31, 2019 and 2020: December 31, 2021 2020 Deferred tax assets: Net operating loss 83,164 109,779 Less: Valuation Allowance (83,164 ) (109,779 ) Net Deferred Tax Assets $ -- $ -- The valuation allowance for deferred tax assets as of, December 31, 2021 and 2020 was $83,165 and $109,779, respectively. In assessing the recovery of the deferred tax assets, management considers whether it is more likely than not that some portion or all the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income in the periods in which those temporary differences become deductible. Management considers the scheduled reversals of future deferred tax assets, projected future taxable income, and tax planning strategies in making this assessment. Thus, management determined it was more likely than not the deferred tax assets would not be realized as of December 31, 2021 and 2020, accordingly, recorded a full valuation allowance. The Company has not filed tax returns and is subject to review by the Internal Revenue Service for all open years. |
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS | 12 Months Ended |
Dec. 31, 2021 | |
RELATED PARTY TRANSACTIONS | |
Note 7 - Related Party Transactions | NOTE 7 – RELATED PARTY TRANSACTIONS During the year ended December 31, 2021 and 2020 the Company paid compensation to a related party of $17,535 and $31,387, respectively. |
EQUITY
EQUITY | 12 Months Ended |
Dec. 31, 2021 | |
EQUITY | |
Note 8 - Equity | NOTE 8 – EQUITY During the year ended December 31, 2020 the Company issued 262,250 shares of common stock with a value of $50,950 for cash. During the year ended December 31, 2020 a $ 40,000 deposit made in connection with the investment in Top of the Line Design, LLC was contributed to the Company. |
CONVERTIBLE NOTES
CONVERTIBLE NOTES | 12 Months Ended |
Dec. 31, 2021 | |
CONVERTIBLE NOTES | |
Note 9 - Convertible Notes | NOTE 9 – CONVERTIBLE NOTES During the year ended December 31, 2020 the Company issued twenty one year Convertible notes to 0985358 BC, Ltd. The notes bear an interest of 10% per annum and is convertible into common stock at $0.005 per share. As of December 31, 2021 the outstanding principal balance of the twenty notes was $186,660 plus interest of $22,037 for a total of $208,697. During the year ended December 31, 2021 the Company issued a one-year Convertible note to 0985358 BC, Ltd for $49,840. The note bears an interest of 10% per annum and is convertible into common stock at $0.005 per share. As of December 31, 2021 the Company had $377,125 of convertible debt and $145,030 of notes payable plus accrued interest of $133,156 for total of $655,331. The Company determined the convertible note does not meet the requirements for derivative liability accounting as described in ASC 815. As the shares of the Company do not have a value other than par, are not readily convertible to cash at the date of issuance and are not registered to be traded. Additionally, there is no beneficial conversion feature described in ASC 470 on the date of issuance. |
INVESTMENTS
INVESTMENTS | 12 Months Ended |
Dec. 31, 2021 | |
INVESTMENTS | |
Note 10 - Investments | NOTE 10 – INVESTMENTS On December 12, 2019, the Company signed a memorandum of understanding with Top of the Line Design, LLC whereas the Company will purchase 100 % of Top of the Line for $350,000 and advance Top of the Line $350,000 in working capital as further expanded in a definitive agreement. The Company made a good faith deposit to Top of the Line of $40,000 at the signing of the agreement and an additional $142,500 as of September 30, 2021 for a total of $182,500. The agreement is effective for 90 days and if terminate by both parties the deposits were to be terminated. As of December 31, 2021 the agreement was still in effect. On July 23, 2021 the Company advanced TOL $100,000. The advance is a note receivable with a one year term bearing interest at 12% per annum. |
SUBSEQUENT EVENT
SUBSEQUENT EVENT | 12 Months Ended |
Dec. 31, 2021 | |
SUBSEQUENT EVENT | |
Note 11 - Subsequent Event | NOTE 11 – SUBSEQUENT EVENT The Company has evaluated subsequent events to determine events occurring after December 31, 2021, through April 25, 2022 that would have a material impact on the Company’s financial results or require disclosure and have determined none exist other than those noted above in this footnote. |
SIGNIFICANT ACCOUNTING POLICI_2
SIGNIFICANT ACCOUNTING POLICIES (Policies) | 12 Months Ended |
Dec. 31, 2021 | |
SIGNIFICANT ACCOUNTING POLICIES | |
Basis Of Presentation | These financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for financial information and reflect all adjustments which, in the opinion of management, are necessary for a fair presentation. |
Use Of Estimates | The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the balance sheet. Actual results could differ from those estimates. |
Cash And Cash Equivalents | The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. As of December 31, 2021 and 2020 the Company did not have any cash equivalents. |
Account Receivable | Accounts receivable are carried at face value less any provisions for uncollectible accounts considered necessary. Accounts receivable include receivables from customers that have received their product order. Bad debt expense is a recognition of uncollectable receivables based on past years’ experience and management’s estimate of likely losses for the year. At December 31, 2021, the accounts receivable was with one customer, who is also a lender of the Company. No allowance for bad debt was considered necessary as of December 31, 2021 and 2020, respectively. |
Inventory | Inventories are stated at the lower or cost of market using the first-in; first-out (FIFO) cost method of accounting. The inventory consists of raw materials used to make various products for sale. |
Revenue Recognition | Revenue is recognized when control of the promised goods or services is transferred to the Company’s customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. |
Property And Equipment | Property and equipment is recorded at cost less accumulated depreciation. Depreciation is calculated using the straight-line method over the expected useful life of the asset (3 to 5 years), beginning when the asset is available and ready for use. Expenditures associated with upgrades and enhancements that improve, add functionality, or otherwise extend the life of property and equipment are capitalized, while expenditures that do not, such as repairs and maintenance, are expensed as incurred. For the years ended December 31, 2021 and 2020, depreciation and amortization expense totaled $6,049 and $9,725, respectively. |
Impairment Of Long-lived Assets | The Company reviews the carrying value of its long-lived assets annually or whenever events or changes in circumstances indicate that the historical-cost carrying value of an asset may no longer be appropriate. The Company assesses recoverability of the asset by comparing the undiscounted future net cash flows expected to result from the asset to its carrying value. If the carrying value exceeds the undiscounted future net cash flows of the asset, an impairment loss is measured and recognized. An impairment loss is measured as the difference between the net book value and the fair value of the long-lived asset. Fair value is estimated based upon either discounted cash flow analysis or estimated salvage value. As of December 31, 2021 and 2020 no impairment losses have been recognized. |
Income Taxes | Deferred tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. A valuation allowance is established when necessary to reduce deferred tax assets to the amounts expected to be realized. The Company accounts for income taxes under the provisions of Financial Accounting Standards Board) Accounting Standards Codification 740, Accounting for Income Taxes The Company classifies penalties and interest related to unrecognized tax benefits as income tax expense in the Statements of Operations. |
Basic And Diluted Net Loss Per Share | Basic and diluted net loss per share calculations are calculated on the basis of the weighted average number of common shares outstanding during the year. Diluted loss per share calculations includes the dilutive effect of common stock. Basic and diluted net loss per share is the same due to the absence of common stock equivalents. |
Fair Value Of Financial Instruments | The Company’s financial instruments consist of cash and cash equivalents, accounts payable and accrued expenses and shareholder loans. The carrying amount of these financial instruments approximates fair value due either to length of maturity or interest rates that approximate prevailing market rates unless otherwise disclosed in these financial statements. Financial assets and liabilities recorded at fair value in our condensed consolidated balance sheets are categorized based upon a fair value hierarchy established by GAAP, which prioritizes the inputs used to measure fair value into the following levels: Level 1— Quoted market prices in active markets for identical assets or liabilities at the measurement date. Level 2— Quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; or other inputs that are observable and can be corroborated by observable market data. Level 3— Inputs reflecting management’s best estimates and assumptions of what market participants would use in pricing assets or liabilities at the measurement date. The inputs are unobservable in the market and significant to the valuation of the instruments. A financial instrument's categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. |
Related Parties | A party is considered to be related to the Company if the party directly or indirectly or through one or more intermediaries, controls, is controlled by, or is under common control with the Company. Related parties also include principal owners of the Company, its management, members of the immediate families of principal owners of the Company and its management and other parties with which the Company may deal if one party controls or can significantly influence the management or operating policies of the other to an extent that one of the transacting parties might be prevented from fully pursuing its own separate interests. A party which can significantly influence the management or operating policies of the transacting parties or if it has an ownership interest in one of the transacting parties and can significantly influence the other to an extent that one or more of the transacting parties might be prevented from fully pursuing its own separate interests is also a related party. |
PROPERTY and EQUIPMENT (Tables)
PROPERTY and EQUIPMENT (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
PROPERTY AND EQUIPMENT | |
Schedule Of Property And Equipment | December 31. 2021 December 31, 2020 Property and equipment $ 48,213 $ 48,212 Less: accumulation depreciation 35,246 29,196 Net property and equipment 12,967 19,016 |
INCOME TAXES (Tables)
INCOME TAXES (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
INCOME TAXES | |
Schedule Of Deferred Tax Assets | December 31, 2021 2020 Deferred tax assets: Net operating loss 83,164 109,779 Less: Valuation Allowance (83,164 ) (109,779 ) Net Deferred Tax Assets $ -- $ -- |
NATURE OF BUSINESS (Details Nar
NATURE OF BUSINESS (Details Narrative) - $ / shares | Dec. 31, 2021 | Dec. 31, 2020 |
NATURE OF BUSINESS | ||
Shares Authorized | 125,000,000 | 125,000,000 |
Common Stock, Shares Authorized | 100,000,000 | 100,000,000 |
Common Stock, Shares Par Value | $ 0.001 | $ 0.001 |
Preferred Stock, Shares Authorized | 25,000,000 | 25,000,000 |
Preferred Stock, Shares Par Value | $ 0.001 | $ 0.001 |
SIGNIFICANT ACCOUNTING POLICI_3
SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Depreciation And Amortization | $ 6,049 | $ 9,725 |
Property and Equipment [Member] | ||
Estimated Useful Life | 3 to 5 |
GOING CONCERN (Details Narrativ
GOING CONCERN (Details Narrative) - USD ($) | Dec. 31, 2021 | Dec. 31, 2020 |
GOING CONCERN | ||
Accumulated Deficit | $ (589,698) | $ (522,755) |
PROPERTY AND EQUIPMENT (Details
PROPERTY AND EQUIPMENT (Details) - USD ($) | Dec. 31, 2021 | Dec. 31, 2020 |
PROPERTY AND EQUIPMENT | ||
Property And Equipment | $ 48,213 | $ 48,212 |
Less: Accumulation Depreciation | 35,246 | 29,196 |
Net Property And Equipment | $ 12,967 | $ 19,016 |
PROPERTY AND EQUIPMENT (Detai_2
PROPERTY AND EQUIPMENT (Details Narrative) - USD ($) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
PROPERTY AND EQUIPMENT | ||
Depreciation Expense | $ 6,049 | $ 9,725 |
Estimated Useful Life | 3 years |
OTHER ASSETS (Details Narrative
OTHER ASSETS (Details Narrative) - Memorandum of Understanding [Member] - Top of the Line Designs, LLC. [Member] - USD ($) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 12, 2019 | |
Business Acquisition, Purchase Price, Payable | $ 67,500 | $ 350,000 |
Business Acquisition, Purchase Price, Paid | $ 282,500 |
INCOME TAXES (Details)
INCOME TAXES (Details) - USD ($) | Dec. 31, 2021 | Dec. 31, 2020 |
Deferred Tax Assets: | ||
Net Operating Loss | $ 83,164 | $ 109,779 |
Less: Valuation Allowance | (83,164) | (109,779) |
Net Deferred Tax Assets | $ 0 | $ 0 |
INCOME TAXES (Details Narrative
INCOME TAXES (Details Narrative) - USD ($) | Dec. 31, 2021 | Dec. 31, 2020 |
INCOME TAXES | ||
Net Operating Loss Carry Forward | $ 348,875 | $ 522,755 |
Valuation Allowance For Deferred Tax Assets | $ (83,165) | $ (109,779) |
RELATED PARTY TRANSACTIONS (Det
RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
RELATED PARTY TRANSACTIONS | ||
Compensation Paid To Related Party | $ 17,535 | $ 31,387 |
EQUITY (Details Narrative)
EQUITY (Details Narrative) | 12 Months Ended |
Dec. 31, 2021USD ($)shares | |
Common Stock Shares Issued, Shares | shares | 262,250 |
Common Stock Shares Issued, Amount | $ 50,950 |
Top of the Line Design, LLC [Member] | |
Deposit | $ 40,000 |
CONVERTIBLE NOTES (Details Narr
CONVERTIBLE NOTES (Details Narrative) - USD ($) | Dec. 31, 2021 | Dec. 31, 2020 |
Convertible Debt | $ 377,125 | |
Interest Amount | 133,156 | |
Total Convertible Debt | 655,331 | |
Notes Payable | 145,030 | |
0985358 BC Ltd [Member] | Twenty One Year Convertible Notes [Member] | ||
Convertible Debt | 186,660 | |
Interest Amount | 22,037 | |
Total Convertible Debt | $ 208,697 | |
Debt Instrument, Interest Rate, Stated Percentage | 10.00% | |
Debt Instrument, Convertible, Conversion Price | $ 0.005 | |
0985358 BC Ltd [Member] | One Year Convertible Notes [Member] | ||
Debt Instrument, Interest Rate, Stated Percentage | 10.00% | |
Debt Instrument, Convertible, Conversion Price | $ 0.005 | |
Debt Instrument, Face Amount | $ 49,840 |
INVESTMENTS (Details Narrative)
INVESTMENTS (Details Narrative) - USD ($) | Dec. 12, 2019 | Sep. 30, 2021 | Jul. 23, 2021 |
TOL [Member] | |||
Loan Receivable | $ 100,000 | ||
Interest Rate | 12.00% | ||
Top of the Line Design, LLC [Member] | |||
Purchase Percentage | 100 % | ||
Total Amount | $ 182,500 | ||
Business Acquisition, Purchase Price, Payable | $ 350,000 | ||
Working Capital | $ 350,000 | ||
Deposit | 40,000 | ||
Additional Amount | $ 142,500 |