Mycotopia Therapies (TPIA) 10-K 30 Mar 20 2019 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2019	Mar. 30, 2020	Jun. 30, 2019
Details
Registrant CIK	0001763329
Fiscal Year End	--12-31
Registrant Name	20/20 GLOBAL, INC.
SEC Form	10-K
Period End date	Dec. 31, 2019
Tax Identification Number (TIN)	87-0645794
Number of common stock shares outstanding		12,425,420
Public Float			$ 250,088
Filer Category	Non-accelerated Filer
Current with reporting	Yes
Interactive Data Current	Yes
Voluntary filer	No
Well-known Seasoned Issuer	No
Shell Company	true
Small Business	true
Emerging Growth Company	false
Entity File Number	000-56022
Entity Incorporation, State or Country Code	NV
Entity Address, Address Line One	480 22nd Street, Box 2
Entity Address, City or Town	Heyburn
Entity Address, State or Province	ID
Entity Address, Postal Zip Code	83336
Country Region	208
City Area Code	677
Local Phone Number	2020
Amendment Flag	false
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY
Document Annual Report	true
Document Transition Report	false

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Current assets:
Cash in bank	$ 209,164	$ 0
Prepaid expenses	7,606	3,137
Other deposits and receivables	50,100	56,116
Note receivable	1,000	0
Assets of discontinued operations	946,715	1,439,851
Total current assets	1,214,585	1,499,104
Property, plant and equipment, net	548	871
TOTAL ASSETS	1,215,133	1,499,975
Current liabilities:
Accrued liabilities	55,967	3,238
Income tax payable	0	50,240
Liabilities of discontinued operations	507,263	799,397
Total current liabilities	563,230	852,875
TOTAL LIABILITIES	563,230	852,875
STOCKHOLDERS' EQUITY
Preferred stock, $0.001 par value; 5,000,000 shares authorized and no shares issued or outstanding	0	0
Common stock, $0.001 par value; 100,000,000 shares authorized; 12,425,420 shares issued and outstanding	12,425	12,425
Additional paid-in capital	26,246	26,246
Retained earnings	613,232	608,429
TOTAL STOCKHOLDERS' EQUITY	651,903	647,100
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 1,215,133	$ 1,499,975

Consolidated Balance Sheets - P

Consolidated Balance Sheets - Parenthetical - $ / shares	Dec. 31, 2019	Dec. 31, 2018
Details
Preferred Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001
Preferred Stock, Shares Authorized	5,000,000	5,000,000
Common Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001
Common Stock, Shares Authorized	100,000,000	100,000,000
Common Stock, Shares, Issued	12,425,420	12,425,420
Common Stock, Shares, Outstanding	12,425,420	12,425,420

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Details
Revenue	$ 0	$ 0
Cost of revenues	0	0
Gross profit	0	0
Operating Expenses:
General and administration expenses	123,576	60,951
Salaries and wages	119,298	116,606
Taxes - payroll	8,844	8,517
Total operating expense	251,718	186,074
Loss from Operations	(251,718)	(186,074)
Other Income (Expense):
Interest income	16,253	15,918
Interest expense	(8)	(119)
Other income	22,251	0
Loss on legal settlement	(40,000)	0
Total other income (expense)	(1,504)	15,799
Net loss before provision for income tax	(253,222)	(170,275)
Provision for income tax expense	0	0
Net loss from continuing operations	(253,222)	(170,275)
Net income from discontinued operations, net of tax	258,025	231,477
Net income	$ 4,803	$ 61,202
Basic and fully diluted earnings per share from continuing operations	$ (0.02)	$ (0.01)
Basic and fully diluted earnings per share from discontinued operations	0.02	0.01
Basic and fully diluted earnings per share	$ 0	$ 0
Weighted average shares outstanding-basic and diluted	12,425,420	12,845,053

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity - USD ($)	Preferred Stock	Common Stock	Additional Paid-in Capital	Retained Earnings	Total
Stockholders' Equity Attributable to Parent, Beginning Balance at Dec. 31, 2017	$ 0	$ 12,152	$ 12,848	$ 547,227	$ 572,227
Shares, Outstanding, Beginning Balance at Dec. 31, 2017		12,152,000
Stock Issued During Period, Value, Issued for Services	0	$ 984	12,687	0	13,671
Stock Issued During Period, Shares, Issued for Services		984,312
Stock Repurchased and Retired During Period, Value	0	$ (711)	711	0	0
Stock Repurchased and Retired During Period, Shares		(710,892)
Net income	0	$ 0	0	61,202	61,202
Stockholders' Equity Attributable to Parent, Ending Balance at Dec. 31, 2018	0	$ 12,425	26,246	608,429	647,100
Shares, Outstanding, Ending Balance at Dec. 31, 2018		12,425,420
Net income	0	$ 0	0	4,803	4,803
Stockholders' Equity Attributable to Parent, Ending Balance at Dec. 31, 2019	$ 0	$ 12,425	$ 26,246	$ 613,232	$ 651,903
Shares, Outstanding, Ending Balance at Dec. 31, 2019		12,425,420

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Cash Flows from Operating Activities:
Net income	$ 4,803	$ 61,202
Less net income from discontinued operations	(258,025)	(231,477)
Depreciation expense	323	672
Change in assets and liabilities:
Prepaids and other receivables	1,547	(42,961)
Accounts payable and accrued liabilities	52,729	3,238
Operating cash flow from discontinued operations	297,290	140,792
Net cash provided by (used in) operating activities	98,667	(68,534)
Cash Flows from Investing Activities:
Proceeds from note receivable	(4,500)	0
Repayment of note receivable	3,500	0
Net cash used in investing activities	(1,000)	0
Net increase in cash	97,667	(68,534)
Cash of continuing operations at beginning of period	0	680,031
Cash of discontinued operations at beginning of period	611,497	0
Cash at end of period	709,164	611,497
Less: cash of discontinued operations, end of period	(500,000)	(611,497)
Cash of continuing operations, end of period	209,164	0
Supplemental Cash Flow Information:
Cash paid for interest	8	119
Cash paid for income taxes	0	97,134
Schedule of Noncash Investing and Financing Activities:
Common shares - issued to directors for reimbursement	$ 0	$ 13,671

NOTE 1 - ORGANIZATION AND DESCR

NOTE 1 - ORGANIZATION AND DESCRIPTION OF BUSINESS	12 Months Ended
	Dec. 31, 2019
Notes
NOTE 1 - ORGANIZATION AND DESCRIPTION OF BUSINESS	NOTE 1 – ORGANIZATION AND DESCRIPTION OF BUSINESS Organization and Business Activity We were incorporated in Nevada on January 21, 2000, under the name RM Investors, Inc. On March 15, 2014, under the terms of an Exchange Agreement and Plan of Reorganization, we acquired 100% of the issued and outstanding shares of our subsidiary 20/20 Produce Sales, Inc., an Idaho corporation that was incorporated on December 22, 1994. Our business operations are conducted through our wholly owned subsidiary. In connection with this reorganization, we obtained a new CUSIP number for our common stock, FINRA approval of our name change from RM Investors, Inc. to 20/20 Global, Inc. and a new trading symbol for our shares on the OTC market place, and effected a 2-for-1 forward split of the then-issued and outstanding shares of our common stock. We were a distributor of fresh produce with a tradition of service for the past 20 years, shipping fresh produce via refrigerated semi-trucks from manufacturing facilities to wholesalers from 10 separate geographical locations in Idaho, Washington, California, New Mexico, and Texas. Based on the loss of business generated through our license agreement with Markon Cooperative, Inc., we discontinued our fresh produce distribution business and closed our facilities at the end of 2019. We are pursuing other business opportunities and believe that we may find another business opportunity, or another active business may be interested in acquiring us. Our accompanying consolidated financial statements have been prepared assuming that we will continue as a going concern. However, we have recently been forced to discontinue our only revenue stream, which raises substantial doubt about our ability to continue as a going concern. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

NOTE 2 - SUMMARY OF SIGNIFICANT

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2019
Notes
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation Our consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). Basis of Consolidation The accompanying consolidated financial statements include the accounts of 20/20 Global, Inc. and our wholly owned subsidiary. All significant intercompany balances and transactions have been eliminated in these consolidated financial statements. Use of Estimates The preparation of financial statements in conformity with GAAP 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 amount of revenues and expenses during the reporting period. Actual results could differ from those estimates. Our financial statements include, when applicable, disclosures of estimates, assumptions, uncertainties, and markets that could affect our financial statements and future operations. Reclassifications The prior-year amounts have been modified in these financial statements to properly report amounts under current operations and discontinued operations (see Note 9). Cash and Cash Equivalents We consider all highly liquid investments with original maturities of less than three months, which are readily convertible to known amounts of cash and which, in the opinion of management, are subject to an insignificant risk of loss in value, to be cash equivalents. Accounts Receivable and Doubtful Accounts Accounts receivable are stated at invoice value, which is net of any off-invoice promotions. A provision for doubtful accounts is recorded and based upon an assessment of credit risk within the accounts receivable portfolio, experience of delinquencies and charge-offs, and current market conditions. Management believes these provisions are adequate based upon the relevant information presently available. The allowance provided for the years ended December 31, 2019 and 2018, was $0 and $0, respectively. The write-offs for the years ended December 31, 2019 and 2018, were $15,440 and $0, respectively Inventory Substantially all inventories are stated at cost at the lower of first-in, first-out (“FIFO”) method or market. Inventory consists of packaging/raw materials. Fixed Assets and Depreciation Property, plant, and equipment are stated at cost. For financial reporting, we provide for depreciation on the straight-line method at rates based upon the estimated useful lives of the various assets. Depreciation expense was $323 and $672 for the years ended December 31, 2019 and 2018, respectively. The estimated useful lives are as follows: buildings and improvements—30 years; machinery and equipment—10-15 years; computer software—3-5 years; vehicles—3-7 years; and land improvements—10-20 years. We assess our long-lived assets for impairment whenever there is an indicator of impairment. Impairment losses are evaluated if the estimated undiscounted cash flows from using the assets are less than carrying value. A loss is recognized when the carrying value of an asset exceeds its fair value. There were no impairment losses in 2019 and 2018. Revenue Recognition Effective January 1, 2018, we adopted Financial Accounting Standards Board (“FASB”), Accounting Standards Codification (“ASC”) Topic 606, Revenue from Contracts with Customers We only apply the five-step model to contracts when it is probable that we will collect the consideration to which we are entitled in exchange for the goods or services we transfer to our customer. Once a contract is determined to be within the scope of ASC Topic 606, at contract inception we review the contract to determine which performance obligations we must deliver and which of these performance obligations are distinct. We recognize as revenues the amount of the transaction price that is allocated to the respective performance obligation when the performance obligation is satisfied or as it is satisfied. Generally, our performance obligations are transferred to customers at a point in time, typically upon delivery. There was no impact on our financial statements as a result of adopting ASC Topic 606 for the year ended December 31, 2019. Our shipping terms typically specify FOB origination, at which time title and risk of loss, as well as shipping and handling fees, have passed on to the customer. Shipping and handling costs and fees are treated as a delivered load. On a delivered load versus an FOB load, we actually take the billing and pay the carriers. We contract with the carrier and, therefore, handle the shipping and handling charges and treat them as a “delivered sale.” Sales to our largest customer amounted to approximately 66 % % % Sales to our largest customer amounted to approximately 58 % % % Fair Value of Financial Instruments We follow FASB ASC subtopic 825-10-50-10, Financial Instruments-Overall-Disclosure, Fair Value Measurement-Overall-Subsequent Measurement, Subtopic 820-10-35-37 establishes a framework for measuring fair value in GAAP and expands disclosures about fair value measurements. To increase consistency and comparability in fair value measurements and related disclosures, subtopic 820-10-35-37 establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The three levels of fair value hierarchy defined by subtopic 820-10-35-37 are described below: Level 1: Quoted market prices available in active markets for identical assets or liabilities as of the reporting date. Level 2: Pricing inputs other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reporting date. Level 3: Pricing inputs that are generally unobservable inputs and not corroborated by market data. The carrying amount of our financial assets and liabilities, such as cash, prepaid expenses, and accrued expenses approximate their fair value because of the short maturity of those instruments. Income Taxes We adopted ASC Topic 740-10-25, Income Taxes—Recognition Share-based Expenses or Stock Based Compensation We follow ASC Topic 718, Compensation–Stock Compensation, We accounted for stock-based compensation issued to nonemployees and consultants in accordance with the provisions of ASC Topic 505-50, Equity–Based Payments to Non-Employees, Upon the adoption of Accounting Standards Update (“ASU”) 2018-07, Compensation–Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting, we Income per Share Basic income per common share equals net income divided by weighted average common shares outstanding during the period. Diluted income per share includes the impact on dilution from all contingently issuable shares, including options, warrants, and convertible securities. The common stock equivalents from contingent shares are determined by the treasury stock method. We had no potentially dilutive securities as of December 31, 2019 and 2018. Recently Adopted Accounting Pronouncements In June 2018, the FASB issued ASU 2018-07, Compensation – Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) We have reviewed other recently issued accounting pronouncements and plan to adopt those that are applicable to us. We do not expect the adoption of any other pronouncements to have an impact on our results of operations or financial position.

NOTE 3 - GOING CONCERN

NOTE 3 - GOING CONCERN	12 Months Ended
	Dec. 31, 2019
Notes
NOTE 3 - GOING CONCERN	NOTE 3 – GOING CONCERN The accompanying audited consolidated financial statements have been prepared on the assumption that we will continue as a going concern. As discussed in Note 1, we have discontinued our operations as of December 31, 2019. We had a net loss of loss of $253,222 from continuing operations for the year ended December 31, 2019. These factors raise substantial doubt about our ability to continue as a going concern. Our ability to continue our operations as a going concern is dependent on management’s plans, which include finding another business opportunity or another active business that may be interested in acquiring us, during the next 12 months. The financial statements do not include any adjustments that may result from the outcome of this uncertainty.

NOTE 4 - LEASE

NOTE 4 - LEASE	12 Months Ended
	Dec. 31, 2019
Notes
NOTE 4 - LEASE	NOTE 4 – LEASE On April 1, 2019, we entered into a lease agreement with Colin Gibson, director, for the lease of an automobile. The lease was considered an operating lease, required monthly payments of $350, and had a term of six years. We had accounted for the lease under ASU 842, Leases The lease expense for the year ended December 31, 2019, was $3,150, which consisted of amortization expense of $1,682 and interest expense of $1,468. The cash paid under our operating lease during the year ended December 31, 2019, was $3,150. We have used a discount rate of 8%, which is our deemed incremental borrowing rate.

NOTE 5 - RELATED-PARTY TRANSACT

NOTE 5 - RELATED-PARTY TRANSACTIONS	12 Months Ended
	Dec. 31, 2019
Notes
NOTE 5 - RELATED-PARTY TRANSACTIONS	NOTE 5 – RELATED-PARTY TRANSACTIONS We lease our office from Whistling Pete Enterprises, d/b/a Legacy Center, an Idaho limited liability company. The lease, which commenced on March 2, 2009, presently is a year-to-year lease, and we currently pay $1,200 per month plus utilities. Whistling Pete Enterprises is owned 50% by Mark Williams, our president. Total lease payments were $18,616 and $18,635 during the years ended December 31, 2019 and 2018, respectively.

NOTE 6 - INCOME TAXES

NOTE 6 - INCOME TAXES	12 Months Ended
	Dec. 31, 2019
Notes
NOTE 6 - INCOME TAXES	NOTE 6 – INCOME TAXES We recognize the financial statement effects of tax positions when it is more likely than not, based on the technical merits, that the position will be sustained upon examination by a taxing authority. Recognized tax positions are initially and subsequently measured as the largest amount of tax benefit that is more likely than not of being realized upon ultimate settlement with a taxing authority. We have not taken a tax position that, if challenged, would have a material effect on the consolidated financial statements or the effective tax rate for the years ending December 31, 2019 and 2018. On December 22, 2017, the 2017 Tax Cuts and Jobs Act was enacted into law including a one-time mandatory transition tax on accumulated foreign earnings and a reduction of the corporate income tax rate to 21% effective January 1, 2018, among others. We are required to recognize the effect of the tax law changes in the period of enactment, such as determining the transition tax, remeasuring our U.S. deferred tax assets and liabilities, as well as reassessing the net realizability of our deferred tax assets and liabilities. We do not have any foreign earnings and, therefore, we do not anticipate the impact of a transition tax. We have remeasured our U.S. deferred tax assets at a statutory income tax rate of 21%. We join in filing a consolidated income tax return with our subsidiary. We have allocated federal income taxes by applying 21% for the years ending December 31, 2019 and 2018, respectively, and state income taxes by applying 7.4% to our taxable income. We comply with GAAP, which requires the determination of deferred income taxes using an asset and liability approach, whereby deferred tax liabilities and assets are recognized for expected future tax consequences of temporary differences between carrying amounts and tax basis of asset and liabilities. Deferred balances are adjusted to reflect enacted changes in income tax rates. We do not have any deferred income taxes. The provision for federal and state income taxes is associated with and included in net income from discontinued operations and consists of the following components: 2019 2018 Federal $ 13,093 $ 25,485 State 4,307 6,927 Total $ 17,400 $ 32,412 The reconciliation between income taxes at the U.S. federal and state statutory rates of approximately 28.4% and the amount recorded in the accompanying consolidated financial statements is as follows: 2019 2018 Tax expense at U.S. federal statutory rate $ 13,093 $ 19,659 Tax expense at state statutory rate 4,307 6,928 Other - 5,825 Total $ 17,400 $ 32,412 Each of the last three tax years we have been in operation is subject to examination by the Internal Revenue Service.

NOTE 7 - STOCKHOLDERS' EQUITY

NOTE 7 - STOCKHOLDERS' EQUITY	12 Months Ended
	Dec. 31, 2019
Notes
NOTE 7 - STOCKHOLDERS' EQUITY	NOTE 7 – STOCKHOLDERS’ EQUITY We are authorized to issue 100,000,000 shares of common stock, $0.001 par value, and 5,000,000 shares of preferred stock, $0.001 par value. Each share of common stock entitles the holder to one vote, in person or proxy, on any matter on which action of the stockholders of the corporation is sought. In April 2018, we issued 196,862 shares of common stock to Robert Williams, 501,999 shares of common stock to Mark Williams, and 285,451 shares of common stock to Colin Gibson, all directors of the company. The shares were issued as reimbursements totaling $13,671 for personally owned shares they transferred for the Master Services Agreement. Stock for that agreement should have been issued by us from our authorized common stock.

NOTE 8 - EMPLOYER IRA PLAN

NOTE 8 - EMPLOYER IRA PLAN	12 Months Ended
	Dec. 31, 2019
Notes
NOTE 8 - EMPLOYER IRA PLAN	NOTE 8 – EMPLOYER IRA PLAN In August 2014, we adopted a Premier Select Simple IRA Plan, which covers all eligible employees who choose to participate. We contribute 2% of compensation, not to exceed certain limits, for employees who participate in the IRA Plan. During the years ended December 31, 2019 and 2018, we contributed $5,256 and $5,463, respectively, to the IRA Plan.

NOTE 9 - DISCONTINUED OPERATION

NOTE 9 - DISCONTINUED OPERATIONS	12 Months Ended
	Dec. 31, 2019
Notes
NOTE 9 - DISCONTINUED OPERATIONS	NOTE 9 – DISCONTINUED OPERATIONS On July 1, 2019, Performance Food Group Company (“PFG”) announced that it entered into a definitive agreement to acquire Reinhart Foodservice, LLC (“Reinhart”) from Reyes Holdings, LLC. Reinhart is a principal purchaser of our fresh produce distribution business. On December 20, 2019, PFG received approval from the Federal Trade Commission to acquire Reinhart and closed the transaction on December 30, 2019. Most of our business through our License Agreement with Markon Cooperative is purchased by Reinhart. Although our Markon License Agreement has not been terminated, PFG notified us that it will use its existing suppliers, which do not include us. Since this agreement that generates over half of our existing business is effectively terminated, we decided to discontinue our fresh produce distribution business, and we have notified all of our vendors and suppliers that we will not conduct new business with them after December 27, 2019. In accordance with the provisions of ASC 205-20, Presentation of Financial Statements December 31, 2019 2018 Current Assets of Discontinued Operations: Cash $ 500,000 $ 611,497 Accounts receivable 446,715 811,761 Inventory - 16,593 Total Current Assets of Discontinued Operations: $ 946,715 $ 1,439,851 Current Liabilities of Discontinued Operations: Accounts payable $ 489,863 $ 799,397 Accrual 17,400 - Total Current Liabilities of Discontinued Operations: $ 507,263 $ 799,397 In accordance with the provisions of ASC 205-20, we have not included the results of operations from discontinued operations in the results of continuing operations in the consolidated statements of operations. The results of operations from discontinued operations for the years ended December 31, 2019 and 2018, have been reflected as discontinued operations in the consolidated statements of operations for the years ended December 31, 2019 and 2018, and consist of the following. For the Year Ended December 31, 2019 2018 Revenue of discontinued operations $ 12,283,783 $ 12,279,774 Cost of revenues of discontinued operations 11,612,910 11,668,496 Gross profit of discontinued operations 670,873 611,278 Operating Expenses of Discontinued Operations: General and administration expenses 113,698 82,564 Business development 42,080 44,778 Salaries and wages 212,500 178,542 Sales/marketing expense 27,967 32,329 Taxes - payroll 16,478 13,700 Total operating expense of discontinued operations 412,723 351,913 Operating income from discontinued operations 258,150 259,365 Other Income of Discontinued Operations: Other income 17,275 4,524 Net income from discontinued operations before provision for income tax 275,425 263,889 Provision for income tax expense from discontinued operations (17,400) (32,412) Net income from discontinued operations $ 258,025 $ 231,477 In accordance with the provisions of ASC 205-20, we have included the net cash provided by discontinued operations in the consolidated statements of cash flows. The net cash provided by discontinued operations in the consolidated statements of cash flows for the years ended December 31, 2019 and 2018, consist of the following. For the Years Ended December 31, 2019 2018 Net income from discontinued operations, net of tax $ 258,025 $ 231,477 Changes in assets and liabilities: Accounts receivable 365,046 (27,736) Inventory 16,593 (3,797) Accounts payable and accrued liabilities (342,374) (59,152) Net cash provided by discontinued operations $ 297,290 $ 140,792

NOTE 10 - SUBSEQUENT EVENTS

NOTE 10 - SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2019
Notes
NOTE 10 - SUBSEQUENT EVENTS	NOTE 10 – SUBSEQUENT EVENTS On March 6, 2020, in the case entitled In re the Marriage of Penni Gruenberg v. Myron Gruenberg a recognized subsequent event per ASC 855-10-55-1, Subsequent Events, Management has evaluated subsequent events pursuant to the requirements of ASC Topic 855, Subsequent Events

NOTE 2 - SUMMARY OF SIGNIFICA_2

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2019
Policies
Basis of Presentation	Basis of Presentation Our consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”).
Basis of Consolidation	Basis of Consolidation The accompanying consolidated financial statements include the accounts of 20/20 Global, Inc. and our wholly owned subsidiary. All significant intercompany balances and transactions have been eliminated in these consolidated financial statements.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP 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 amount of revenues and expenses during the reporting period. Actual results could differ from those estimates. Our financial statements include, when applicable, disclosures of estimates, assumptions, uncertainties, and markets that could affect our financial statements and future operations.
Reclassifications	Reclassifications The prior-year amounts have been modified in these financial statements to properly report amounts under current operations and discontinued operations (see Note 9).
Cash and Cash Equivalents	Cash and Cash Equivalents We consider all highly liquid investments with original maturities of less than three months, which are readily convertible to known amounts of cash and which, in the opinion of management, are subject to an insignificant risk of loss in value, to be cash equivalents.
Accounts Receivable and Doubtful Accounts	Accounts receivable are stated at invoice value, which is net of any off-invoice promotions. A provision for doubtful accounts is recorded and based upon an assessment of credit risk within the accounts receivable portfolio, experience of delinquencies and charge-offs, and current market conditions. Management believes these provisions are adequate based upon the relevant information presently available. The allowance provided for the years ended December 31, 2019 and 2018, was $0 and $0, respectively. The write-offs for the years ended December 31, 2019 and 2018, were $15,440 and $0, respectively
Inventory	Inventory Substantially all inventories are stated at cost at the lower of first-in, first-out (“FIFO”) method or market. Inventory consists of packaging/raw materials.
Fixed Assets and Depreciation	Fixed Assets and Depreciation Property, plant, and equipment are stated at cost. For financial reporting, we provide for depreciation on the straight-line method at rates based upon the estimated useful lives of the various assets. Depreciation expense was $323 and $672 for the years ended December 31, 2019 and 2018, respectively. The estimated useful lives are as follows: buildings and improvements—30 years; machinery and equipment—10-15 years; computer software—3-5 years; vehicles—3-7 years; and land improvements—10-20 years. We assess our long-lived assets for impairment whenever there is an indicator of impairment. Impairment losses are evaluated if the estimated undiscounted cash flows from using the assets are less than carrying value. A loss is recognized when the carrying value of an asset exceeds its fair value. There were no impairment losses in 2019 and 2018.
Revenue Recognition	Revenue Recognition Effective January 1, 2018, we adopted Financial Accounting Standards Board (“FASB”), Accounting Standards Codification (“ASC”) Topic 606, Revenue from Contracts with Customers We only apply the five-step model to contracts when it is probable that we will collect the consideration to which we are entitled in exchange for the goods or services we transfer to our customer. Once a contract is determined to be within the scope of ASC Topic 606, at contract inception we review the contract to determine which performance obligations we must deliver and which of these performance obligations are distinct. We recognize as revenues the amount of the transaction price that is allocated to the respective performance obligation when the performance obligation is satisfied or as it is satisfied. Generally, our performance obligations are transferred to customers at a point in time, typically upon delivery. There was no impact on our financial statements as a result of adopting ASC Topic 606 for the year ended December 31, 2019. Our shipping terms typically specify FOB origination, at which time title and risk of loss, as well as shipping and handling fees, have passed on to the customer. Shipping and handling costs and fees are treated as a delivered load. On a delivered load versus an FOB load, we actually take the billing and pay the carriers. We contract with the carrier and, therefore, handle the shipping and handling charges and treat them as a “delivered sale.” Sales to our largest customer amounted to approximately 66 % % % Sales to our largest customer amounted to approximately 58 % % %
Fair Value of Financial Instruments	Fair Value of Financial Instruments We follow FASB ASC subtopic 825-10-50-10, Financial Instruments-Overall-Disclosure, Fair Value Measurement-Overall-Subsequent Measurement, Subtopic 820-10-35-37 establishes a framework for measuring fair value in GAAP and expands disclosures about fair value measurements. To increase consistency and comparability in fair value measurements and related disclosures, subtopic 820-10-35-37 establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The three levels of fair value hierarchy defined by subtopic 820-10-35-37 are described below: Level 1: Quoted market prices available in active markets for identical assets or liabilities as of the reporting date. Level 2: Pricing inputs other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reporting date. Level 3: Pricing inputs that are generally unobservable inputs and not corroborated by market data. The carrying amount of our financial assets and liabilities, such as cash, prepaid expenses, and accrued expenses approximate their fair value because of the short maturity of those instruments.
Income Taxes	Income Taxes We adopted ASC Topic 740-10-25, Income Taxes—Recognition Share-based Expenses or Stock Based Compensation We follow ASC Topic 718, Compensation–Stock Compensation, We accounted for stock-based compensation issued to nonemployees and consultants in accordance with the provisions of ASC Topic 505-50, Equity–Based Payments to Non-Employees, Upon the adoption of Accounting Standards Update (“ASU”) 2018-07, Compensation–Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting, we
Income per Share	Income per Share Basic income per common share equals net income divided by weighted average common shares outstanding during the period. Diluted income per share includes the impact on dilution from all contingently issuable shares, including options, warrants, and convertible securities. The common stock equivalents from contingent shares are determined by the treasury stock method. We had no potentially dilutive securities as of December 31, 2019 and 2018.
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements In June 2018, the FASB issued ASU 2018-07, Compensation – Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) We have reviewed other recently issued accounting pronouncements and plan to adopt those that are applicable to us. We do not expect the adoption of any other pronouncements to have an impact on our results of operations or financial position.

NOTE 6 - INCOME TAXES (Tables)

NOTE 6 - INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2019
Tables/Schedules
Schedule of income tax provision	The provision for federal and state income taxes is associated with and included in net income from discontinued operations and consists of the following components: 2019 2018 Federal $ 13,093 $ 25,485 State 4,307 6,927 Total $ 17,400 $ 32,412 The reconciliation between income taxes at the U.S. federal and state statutory rates of approximately 28.4% and the amount recorded in the accompanying consolidated financial statements is as follows: 2019 2018 Tax expense at U.S. federal statutory rate $ 13,093 $ 19,659 Tax expense at state statutory rate 4,307 6,928 Other - 5,825 Total $ 17,400 $ 32,412

NOTE 9 - DISCONTINUED OPERATI_2

NOTE 9 - DISCONTINUED OPERATIONS (Tables)	12 Months Ended
	Dec. 31, 2019
Tables/Schedules
Schedule of Discontinued Operations - Assets	December 31, 2019 2018 Current Assets of Discontinued Operations: Cash $ 500,000 $ 611,497 Accounts receivable 446,715 811,761 Inventory - 16,593 Total Current Assets of Discontinued Operations: $ 946,715 $ 1,439,851 Current Liabilities of Discontinued Operations: Accounts payable $ 489,863 $ 799,397 Accrual 17,400 - Total Current Liabilities of Discontinued Operations: $ 507,263 $ 799,397
Schedule of Discontinued Operations - Income	For the Year Ended December 31, 2019 2018 Revenue of discontinued operations $ 12,283,783 $ 12,279,774 Cost of revenues of discontinued operations 11,612,910 11,668,496 Gross profit of discontinued operations 670,873 611,278 Operating Expenses of Discontinued Operations: General and administration expenses 113,698 82,564 Business development 42,080 44,778 Salaries and wages 212,500 178,542 Sales/marketing expense 27,967 32,329 Taxes - payroll 16,478 13,700 Total operating expense of discontinued operations 412,723 351,913 Operating income from discontinued operations 258,150 259,365 Other Income of Discontinued Operations: Other income 17,275 4,524 Net income from discontinued operations before provision for income tax 275,425 263,889 Provision for income tax expense from discontinued operations (17,400) (32,412) Net income from discontinued operations $ 258,025 $ 231,477
Schedule of Discontinued Operations - Cash flows	For the Years Ended December 31, 2019 2018 Net income from discontinued operations, net of tax $ 258,025 $ 231,477 Changes in assets and liabilities: Accounts receivable 365,046 (27,736) Inventory 16,593 (3,797) Accounts payable and accrued liabilities (342,374) (59,152) Net cash provided by discontinued operations $ 297,290 $ 140,792

NOTE 1 - ORGANIZATION AND DES_2

NOTE 1 - ORGANIZATION AND DESCRIPTION OF BUSINESS (Details)	Mar. 15, 2014
20/20 Produce Sales, Inc
Equity Method Investment, Ownership Percentage	100.00%

NOTE 2 - SUMMARY OF SIGNIFICA_3

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Accounts Receivable and Doubtful Accounts (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Details
Accounts Receivable, Allowance for Credit Loss	$ 0	$ 0
Accounts Receivable, Allowance for Credit Loss, Writeoff	$ 15,440	$ 0

NOTE 2 - SUMMARY OF SIGNIFICA_4

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Fixed Assets and Depreciation (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Depreciation expense	$ 323	$ 672
Building Improvements
Property, Plant and Equipment, Estimated Useful Lives	30 years
Machinery and Equipment
Property, Plant and Equipment, Estimated Useful Lives	10-15 years
Software and Software Development Costs
Property, Plant and Equipment, Estimated Useful Lives	3-5 years
Vehicles
Property, Plant and Equipment, Estimated Useful Lives	3-7 years
Land Improvements
Property, Plant and Equipment, Estimated Useful Lives	10-20 years

NOTE 2 - SUMMARY OF SIGNIFICA_5

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Revenue Recognition (Details)	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Lrgest customer | Accounts Receivable
Concentration Risk, Percentage	39.00%	54.00%
Sales | Lrgest customer
Concentration Risk, Percentage		58.00%	66.00%
Sales | Top two customers
Concentration Risk, Percentage		92.00%	91.00%

NOTE 3 - GOING CONCERN (Details

NOTE 3 - GOING CONCERN (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Details
Net loss from continuing operations	$ 253,222	$ 170,275

NOTE 4 - LEASE (Details)

NOTE 4 - LEASE (Details)	12 Months Ended
	Dec. 31, 2019USD ($)
Operating Leases, Rent Expense	$ 1,682
Interest Expense, Lessee, Assets under Capital Lease	$ 1,468
Lessee, Operating Lease, Discount Rate	8.00%
Automobile
Operating Leases, Rent Expense	$ 3,150
Payments for Leasing Costs	$ 3,150
Director
Lessor, Operating Lease, Description	On April 1, 2019, we entered into a lease agreement with Colin Gibson, director, for the lease of an automobile. The lease was considered an operating lease, required monthly payments of $350, and had a term of six years.

NOTE 5 - RELATED-PARTY TRANSA_2

NOTE 5 - RELATED-PARTY TRANSACTIONS (Details) - Whistling Pete Enterprises - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Lessee, Finance Lease, Lease Not yet Commenced, Variable Lease Payment, Terms and Conditions	The lease, which commenced on March 2, 2009, presently is a year-to-year lease, and we currently pay $1,200 per month plus utilities. Whistling Pete Enterprises is owned 50% by Mark Williams, our president.
Payments for Leasing Costs	$ 18,616	$ 18,635

NOTE 6 - INCOME TAXES (Details)

NOTE 6 - INCOME TAXES (Details)	12 Months Ended
	Dec. 31, 2019
Domestic Tax Authority
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21.00%
State and Local Jurisdiction
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	7.40%

NOTE 6 - INCOME TAXES_ Schedule

NOTE 6 - INCOME TAXES: Schedule of income tax provision (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Total	$ 17,400	$ 32,412
Effective Income Tax Rate Reconciliation, Percent	28.40%
Other	$ 0	5,825
Discontinued operation
Federal	13,093	25,485
State	4,307	6,927
Tax expense at U.S. federal statutory rate	13,093	19,659
Tax expense at state statutory rate	$ 4,307	$ 6,928

NOTE 7 - STOCKHOLDERS' EQUITY (

NOTE 7 - STOCKHOLDERS' EQUITY (Details) - $ / shares	Apr. 01, 2018	Dec. 31, 2019	Dec. 31, 2018
Common Stock, Shares Authorized		100,000,000	100,000,000
Common Stock, Par or Stated Value Per Share		$ 0.001	$ 0.001
Preferred Stock, Shares Authorized		5,000,000	5,000,000
Preferred Stock, Par or Stated Value Per Share		$ 0.001	$ 0.001
Robert Williams
Stock Issued During Period, Shares, Issued for Services	196,862
Mark Williams
Stock Issued During Period, Shares, Issued for Services	501,999
Colin Gibson
Stock Issued During Period, Shares, Issued for Services	285,451

NOTE 8 - EMPLOYER IRA PLAN (Det

NOTE 8 - EMPLOYER IRA PLAN (Details) - Premier Select Simple IRA Plan - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Description of Postemployment Benefits	We contribute 2% of compensation, not to exceed certain limits, for employees who participate in the IRA Plan.
IRA Plan expense	$ 5,256	$ 5,463

NOTE 9 - DISCONTINUED OPERATI_3

NOTE 9 - DISCONTINUED OPERATIONS: Schedule of Discontinued Operations - Assets (Details) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Current Assets of Discontinued Operations:
Cash	$ 500,000	$ 611,497
Accounts receivable	446,715	811,761
Inventory	0	16,593
Total Current Assets of Discontinued Operations:	946,715	1,439,851
Current Liabilities of Discontinued Operations
Accounts payable	489,863	799,397
Accrual	17,400	0
Total Current Liabilities of Discontinued Operations:	$ 507,263	$ 799,397

NOTE 9 - DISCONTINUED OPERATI_4

NOTE 9 - DISCONTINUED OPERATIONS: Schedule of Discontinued Operations - Income (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Details
Revenue of discontinued operations	$ 12,283,783	$ 12,279,774
Cost of revenues of discontinued operations	11,612,910	11,668,496
Gross profit of discontinued operations	670,873	611,278
Operating Expenses of Discontinued Operations
General and administration expenses	113,698	82,564
Business development	42,080	44,778
Salaries and wages	212,500	178,542
Sales/marketing expense	27,967	32,329
Taxes - payroll	16,478	13,700
Total operating expense of discontinued operations	412,723	351,913
Operating income from discontinued operations	258,150	259,365
Other Income of Discontinued Operations
Other income	17,275	4,524
Net income from discontinued operations before provision for income tax	275,425	263,889
Provision for income tax expense from discontinued operations	(17,400)	(32,412)
Net income from discontinued operations	$ 258,025	$ 231,477

NOTE 9 - DISCONTINUED OPERATI_5

NOTE 9 - DISCONTINUED OPERATIONS: Schedule of Discontinued Operations - Cash flows (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Details
Net income from discontinued operations, net of tax	$ 258,025	$ 231,477
Changes in assets and liabilities
Accounts receivable	365,046	(27,736)
Inventory	16,593	(3,797)
Accounts payable and accrued liabilities	(342,374)	(59,152)
Operating cash flow from discontinued operations	$ 297,290	$ 140,792