Cover
Cover - USD ($) | 12 Months Ended | |
Dec. 31, 2023 | Mar. 13, 2024 | |
Cover [Abstract] | ||
Document Type | 10-K | |
Amendment Flag | false | |
Document Annual Report | true | |
Document Transition Report | false | |
Document Period End Date | Dec. 31, 2023 | |
Document Fiscal Period Focus | FY | |
Document Fiscal Year Focus | 2023 | |
Current Fiscal Year End Date | --12-31 | |
Entity File Number | 000-56586 | |
Entity Registrant Name | American Picture House Corporation | |
Entity Central Index Key | 0001771995 | |
Entity Tax Identification Number | 85-4154740 | |
Entity Incorporation, State or Country Code | WY | |
Entity Address, Address Line One | 555 Madison Avenue, 5th Floor | |
Entity Address, City or Town | New York | |
Entity Address, State or Province | NY | |
Entity Address, Postal Zip Code | 10022 | |
City Area Code | 1-800 | |
Local Phone Number | 689-6885 | |
Entity Well-known Seasoned Issuer | No | |
Entity Voluntary Filers | No | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Public Float | $ 23,327,571 | |
Entity Common Stock, Shares Outstanding | 109,865,991 | |
Document Financial Statement Error Correction [Flag] | false | |
Auditor Name | BF Borgers CPA PC | |
Auditor Firm ID | 5041 | |
Auditor Location | Lakewood, CO |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Dec. 31, 2023 | Dec. 31, 2022 |
Current Assets | ||
Cash and cash equivalents | $ 203,971 | $ 31,573 |
Accounts receivable | 31,948 | 344,924 |
Prepaid expenses | 29,185 | 32,862 |
Other receivables | 347 | |
Total Current Assets | 266,453 | 409,776 |
Produced and licensed content costs | 210,633 | 121,355 |
Intangible assets, net of accumulated amortization of $1,000 | 71,864 | |
IMM loans receivable, net of allowance of $366,387 | ||
TOTAL ASSETS | 548,950 | 531,131 |
Current Liabilities | ||
Accounts payable and accrued expenses | 90,377 | 273,699 |
Deferred revenue, current portion | 35,000 | |
Interest payable - EIDL loan | 11,580 | 10,288 |
Total Current Liabilities | 101,957 | 448,987 |
Economic injury disaster loan, non-current | 149,900 | 149,900 |
Total Liabilities | 251,857 | 598,887 |
Stockholders’ Equity (Deficit): | ||
Common Stock $0.0001 par value. 1,000,000,000 authorized. 109,790,991 and 100,735,159 issued and outstanding as of December 31, 2023 and 2022, respectively. | 471,569 | 470,673 |
Preferred Stock $0.0001 par value. 1,000,000 authorized. 3,829 issued and outstanding as of December 31, 2023 and 2022. | ||
Additional paid in capital | 4,847,220 | 3,116,949 |
Accumulated deficit | (5,021,696) | (3,655,378) |
Total Stockholders’ Equity (Deficit) | 297,093 | (67,756) |
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT) | 548,950 | 531,131 |
Related Party [Member] | ||
Current Assets | ||
Receivable - related party | 1,349 | 70 |
Current Liabilities | ||
Payable to related parties | $ 130,000 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) | Dec. 31, 2023 | Dec. 31, 2022 |
Statement of Financial Position [Abstract] | ||
Intangible assets, net of accumulated amortization | $ 1,000 | |
Net of allowance for loans receivable | $ 366,387 | $ 366,387 |
Common stock, par value | $ 0.0001 | $ 0.0001 |
Common stock, shares authorized | 1,000,000,000 | 1,000,000,000 |
Common stock, shares issued | 109,790,991 | 100,735,159 |
Common stock, shares outstanding | 109,790,991 | 100,735,159 |
Preferred stock, par value | $ 0.0001 | $ 0.0001 |
Preferred stock, shares authorized | 1,000,000 | 1,000,000 |
Preferred stock, shares issued | 3,829 | 3,829 |
Preferred stock, shares outstanding | 3,829 | 3,829 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Income Statement [Abstract] | ||
Revenues | $ 201,059 | $ 461,174 |
Cost of revenues | 36,701 | 131,722 |
Gross profit | 164,358 | 329,452 |
Operating Expenses: | ||
General and administrative | 1,511,532 | 409,290 |
Research and development | 11,416 | |
Sales and marketing | 6,119 | |
Total Operating Expenses | 1,529,067 | 409,290 |
Net Operating Loss | (1,364,709) | (79,838) |
Other Income (Expenses): | ||
Interest income | 4,618 | 2,077 |
Interest expense | (6,227) | (7,995) |
Net Other Income (Expenses) | (1,609) | (5,918) |
Loss before income taxes | (1,366,318) | (85,756) |
Income taxes | ||
Net loss | $ (1,366,318) | $ (85,756) |
Net loss per common share - Basic | $ (0.01) | $ 0 |
Net loss per common share - Diluted | $ (0.01) | $ 0 |
Weighted average shares used in per share computation - Basic | 104,116,589 | 98,485,159 |
Weighted average shares used in per share computation - Diluted | 104,116,589 | 98,485,159 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Stockholders' Equity (Deficit) - USD ($) | Common Stock [Member] | Preferred Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Balance at Dec. 31, 2021 | $ 470,173 | $ 2,792,449 | $ (3,569,622) | $ (307,000) | |
Balance, shares at Dec. 31, 2021 | 95,735,159 | 3,829 | |||
Conversion of debt and accrued interest to Preferred Stock | $ 300 | 299,700 | 300,000 | ||
Conversion of debt and accrued interest to Preferred Stock, shares | 3,000,000 | ||||
Common stock issued for services | $ 200 | 24,800 | 25,000 | ||
Common stock issued for services, shares | 2,000,000 | ||||
Net Loss | (85,756) | (85,756) | |||
Balance at Dec. 31, 2022 | $ 470,673 | 3,116,949 | (3,655,378) | (67,756) | |
Balance, shares at Dec. 31, 2022 | 100,735,159 | 3,829 | |||
Common stock issued for services | $ 83 | 158,250 | 158,333 | ||
Common stock issued for services, shares | 833,334 | ||||
Net Loss | (1,366,318) | (1,366,318) | |||
Conversion of accrued liabilities totaling $105,000 into options to purchase 1,160,221 shares of Common Stock | 105,000 | 105,000 | |||
Issuance of Common Stock | $ 813 | 1,467,021 | 1,467,834 | ||
Issuance of common stock, shares | 8,222,498 | ||||
Balance at Dec. 31, 2023 | $ 471,569 | $ 4,847,220 | $ (5,021,696) | $ 297,093 | |
Balance, shares at Dec. 31, 2023 | 109,790,991 | 3,829 |
Consolidated Statements of Ch_2
Consolidated Statements of Changes in Stockholders' Equity (Deficit) (Parenthetical) | 12 Months Ended |
Dec. 31, 2023 USD ($) shares | |
Statement of Stockholders' Equity [Abstract] | |
Conversion of accrued liabilities | $ | $ 105,000 |
Conversion of accrued liabilities, shares | shares | 1,160,221 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Cash Flows from Operating Activities: | ||
Net Income (Loss) | $ (1,366,318) | $ (85,756) |
Adjustments to Reconcile Net Income (Loss) to Net Cash Flows from Operating Activities: | ||
Reserve for uncollectible receivable | 193,932 | |
Common Stock issued for services | 158,333 | 25,000 |
Amortization expense | 1,000 | |
Change in operating assets and liabilities: | ||
Accounts receivable | 119,044 | (344,924) |
Prepaid expenses | 3,677 | (24,562) |
Other receivables | 347 | (347) |
Receivables - related party | (1,279) | (70) |
Accounts payable and accrued expenses | (78,322) | 264,884 |
Payable to related party | (130,000) | 130,000 |
Deferred revenue | (35,000) | 35,000 |
Net Cash Flows from Operating Activities | (1,133,294) | 5,139 |
Cash Flows from Investing Activities: | ||
Produced and licensed costs | (89,278) | (121,355) |
Intangible assets | (72,864) | |
Net Cash Flows from Investing Activities | (162,142) | (121,355) |
Cash Flows from Financing Activities: | ||
Proceeds from debt borrowings - related parties | 178,500 | 115,260 |
Repayment of debt borrowings - related parties | (178,500) | (68,760) |
Proceeds from sale of Common Stock | 1,467,834 | |
Net Cash Flows from Financing Activities | 1,467,834 | 46,500 |
Net Increase in Cash and Cash Equivalents | 172,398 | (69,716) |
Cash and Cash Equivalents, Beginning of Period | 31,573 | 101,289 |
Cash and Cash Equivalents, End of Period | 203,971 | 31,573 |
Non-cash Financing and Investing Activities: | ||
Conversion of accrued expenses into options to purchase Common Stock | 105,000 | |
Conversion of note payable to related parties and accrued interest to Common Stock | 300,000 | |
Common Stock issued for services | 158,333 | 25,000 |
Related Party [Member] | ||
Change in operating assets and liabilities: | ||
Interest payable | 292 | |
EIDL Loan [Member] | ||
Change in operating assets and liabilities: | ||
Interest payable | $ 1,292 | $ 5,622 |
Organization And Description Of
Organization And Description Of Business | 12 Months Ended |
Dec. 31, 2023 | |
Accounting Policies [Abstract] | |
Organization And Description Of Business | NOTE 1 – Organization And Description Of Business American Picture House Corporation. (“the Company,” “we” “us”) was incorporated in the State of Nevada on September 21, 2005, originally under the corporate name of Servinational, Inc. The Company subsequently changed its name to Shikisai International, Inc. in November 2005 and then to Life Design Station, Intl., Inc. in August 2007. The Company changed its state of domicile from Nevada to Wyoming on October 13, 2020. On December 4, 2020, the Company changed its name to American Picture House Corporation. The Company’s year-end is December 31. |
Summary Of Significant Aaccount
Summary Of Significant Aaccounting Policies | 12 Months Ended |
Dec. 31, 2023 | |
Accounting Policies [Abstract] | |
Summary Of Significant Aaccounting Policies | NOTE 2 – Summary Of Significant Aaccounting Policies Basis of Presentation The accompanying financial statements have been prepared in accordance with the Financial Accounting Standards Board (“ FASB Codification GAAP Principles of Consolidation The condensed consolidated financial statements of the Company include the accounts of American Picture House Corporation and its wholly owned subsidiaries, Devil’s Half-Acre, LLC and Ask Christine Productions, LLC. Going Concern The accompanying financial statements have been prepared assuming the Company will continue as a going concern, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business for the twelve months following the date of these financial statements. As of December 31, 2023, the Company had working capital of $ 164,496 5,021,696 Because the Company does not expect that the existing operational cash flow will be sufficient to fund presently anticipated operations, this raises substantial doubt about the Company’s ability to continue as a going concern. Therefore, the Company will need to raise additional funds and is currently exploring alternative sources of financing. Recently the Company has been funded by related party shareholders and officers. Historically, the Company raised capital through private placements, to finance working capital needs and may attempt to raise capital through the sale of common stock or other securities and obtaining some short-term loans. The Company will be required to continue to do so until its operations become profitable. Also, the Company has, in the past, paid for consulting services with its common stock to maximize working capital, and intends to continue this practice where feasible. Use of Estimates The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of 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. The most significant estimates relate to income taxes and contingencies. The Company bases its estimates on historical experience, known or expected trends, and various other assumptions that are believed to be reasonable given the quality of information available as of the date of these financial statements. The results of these assumptions provide the basis for making estimates about the carrying amount of assets and liabilities that are not readily apparent from other sources. Actual results could differ from these estimates. Cash and cash equivalents Cash equivalents are short-term highly liquid investments which include short term bank deposits (up to three months from date of deposit), that are not restricted as to withdrawals or use that are readily convertible to cash with maturities of three months or less as of the date acquired. The Company’s policy is to maintain its cash balances with financial institutions with high credit ratings and in accounts insured by the Federal Deposit Insurance Corporation (the “FDIC”) and/or by the Securities Investor Protection Corporation (the “SIPC”). The Company may periodically have cash balances in financial institutions in excess of the FDIC and SIPC insurance limits of $ 250,000 500,000 Accounts receivable Accounts receivable primarily consist of trade receivables due from customers for consulting services and from fees derived from licensing of IP to content providers worldwide. As of December 31, 2023, 100 BUFFALOED Assigned Rights to feature film, BUFFALOED 10 17 72 35,000 249,000 BUFFALOED 193,932 no no SCHEDULE OF ACCOUNTS RECEIVABLE December 31, 2023 December 31, 2022 Accounts receivable, trade $ - $ 60,000 Accounts receivable, related party - 35,000 Accounts receivable, CAMA 31,948 249,924 Accounts receivable $ 31,948 $ 344,924 Allowance for doubtful accounts The allowance for doubtful accounts is determined with respect to amounts the Company has determined to be doubtful of collection. In determining the allowance for doubtful accounts, the Company considers, among other things, its past experience with customers, the length of time that the balance is past due, the customer’s current ability to pay and available information about the credit risk on such customers. During the years ended December 31, 2023 and 2022, the Company recorded no Prepaid expenses At December 31, 2023, prepaid expenses consisted of prepaid insurance, prepaid licenses, and prepaid services. Prepaid expenses are amounts paid to secure the use of assets or the receipt of services at a future date or continuously over one or more future periods. When the prepaid expenses are eventually consumed, they are charged to expense. The Company had $ 29,185 32,862 Produced and Licensed Content Costs Capitalized production costs, whether produced or acquired/ licensed rights, include development costs, direct costs and production overhead. These amounts and licensed content are included in “Produced and Licensed Content Costs” on the balance sheet as follows: SCHEDULE OF PRODUCED AND LICENSED CONTENT COSTS December 31, 2023 Films in development and pre-production stage $ 210,633 $ 210,633 Production costs for content that is predominantly expected to be monetized individually will be amortized based upon the ratio of the current period’s revenues to the estimated remaining total revenues (Ultimate Revenues) Investment in Films: Recording Cost. Amortization. Ultimate Revenue. Development. Licensed Program Rights: General. Recording Cost. Amortization. Changes in management’s estimate of the anticipated exhibitions and viewership patterns of films and original series on our networks could result in the earlier recognition of our programming costs than anticipated. Conversely, scheduled exhibitions and expected viewership patterns may not capture the appropriate usage of the program rights in current periods which would lead to the write-off of additional program rights in future periods and may have a significant impact on our future results of operations and our financial position. Impairment Assessment for Investment in Films and Licensed Program Rights General. Content Monetized Individually. Content Monetized as a Group. Valuation Assumptions. Assigned rights to the feature film, BUFFALOED. BUFFALOED 1,380,000.00 35 249,924 249,924 Bold Crayon’s (BC’s) ownership in the feature film “BUFFALOED” inclusive of: ● BC’s ownership rights in BUFFALOED as per the agreements between BC and Lost City Inc (“Lost City”), the Co-Finance/ Co-Production Agreement dated July 10th, 2018. ● A secured position of a one million three hundred eighty-thousand-dollar ($ 1,380,000 ● A thirty-five percent ( 35 ● Title and all copyrights to “THIEF” (including five titles) (U.S. Copyright #: V9968D472 (2019)), Title and copyright to “SPREAD THE WORD” (U.S. Copyright #: V9968D474 (2019)) The terms of the above agreement to purchase the BC assets include: As consideration for the BC Assets being acquired by APH hereunder, APH shall pay to Bold Crayon the below purchase price (the “Purchase Price”): ● APHP provided a promise in the form of a contingent promissory note to pay BC the first one hundred thirty thousand dollars ($ 130,000.00 BUFFALOED ● APHP will deliver one Preferred Share to BC for each ten thousand dollars ($ 10,000.00 BUFFALOED 130,000.00 125 ● APHP designated Bold Crayon as an APHP content development partner (“Content Partner”). ● APHP will provide Co-producer agreements to Bold Crayon when applicable. During 2019, Magnolia Pictures acquired the distribution rights to BUFFALOED BUFFALOED 130,000 249,924 IMM Technology License and Related Advances and Loans (U.K. Company Number: 08312665) 1,600,000 6 In December 2021, management of the Company re-evaluated the $ 266,387 0 Intangible assets The Company’s intangible assets include in-service and under-development websites and licensed internal use software. During the year ended December 31, 2023 the Company developed an external website that was placed in service during the third quarter of 2023. Additionally, during the fourth quarter of 2023 the Company began developing additional aspects of its website that are expected to go live in the first quarter of 2024. During the fourth quarter of 2023, the Company licensed rights to new internal use software that is expected to be placed in service during the first quarter of 2024. The Company accounts for website development costs in accordance with Accounting Standards Codification 350-50 “Website Development Costs” (ASC 350-50). All costs incurred in the planning stage are expensed as incurred, costs incurred in the website application and infrastructure development stage are accounted for in accordance with ASC 350-50 which requires the capitalization of certain costs that meet specific criteria, and costs incurred in the day-to-day operation of the website are expensed as incurred. The Company capitalizes external website development costs (“website costs”), which primarily include third-party costs related to developing applications, as well as costs incurred to develop or acquire and customize code for web applications, costs to develop HTML web pages or develop templates and costs to create initial graphics for the website that included the design or layout of each page. Through December 31, 2023, the capitalized costs of the Company’s websites placed into service were subject to straight-line amortization over a three-year Deferred Revenue Deferred revenue represents the amount billed to clients that has not yet been earned, pursuant to agreements entered into in current and prior periods. As of December 31, 2023 and 2022, total net deferred revenue was $ 0 35,000 Revenues and Costs from Services and Products 13 33 54 Revenues from Films and Licensed Rights The cost of services includes only those costs directly related to the services being rendered. For the 2022 period, a majority of the consulting services were performed by the Company’s CEO, Mr. MacGregor, who as described in Note 3 was providing the Company with financing and, as a result, did not receive any separate current or deferred compensation for these services. Due to Mr. MacGregor’s limited annual compensation of $ 5,000 0 131,722 130,000 0 249,924 Fair Value Measurements – Level 1 - unadjusted quoted prices are available in active markets for identical assets or liabilities that the Company has the ability to access as of the measurement date. Level 2 - pricing inputs are other than quoted prices in active markets that are directly observable for the asset or liability or indirectly observable through corroboration with observable market data. Level 3 - pricing inputs are unobservable for the non-financial asset or liability and only used when there is little, if any, market activity for the non-financial asset or liability at the measurement date. The inputs into the determination of fair value require significant management judgment or estimation. Level 3 inputs are considered as the lowest priority within the fair value hierarchy. The valuation of the right to obtain control over affiliated company, right to acquire shares of other companies, contingent consideration to be paid upon achieving of performance milestone, certain convertible bridge loans (following the maturity date and thereafter) and certain freestanding stock warrants and bifurcated convertible feature of convertible bridge loans issued to the units’ owners, fall under this category. This hierarchy requires the Company to use observable market data, when available, and to minimize the use of unobservable inputs when determining fair value. The fair value of cash and cash equivalents is based on its demand value, which is equal to its carrying value. Additionally, the carrying value of all other short-term monetary assets and liabilities are estimated to be equal to their fair value due to the short-term nature of these instruments. Valuation of Long-Lived Assets The Company evaluates whether events or circumstances have occurred which indicate that the carrying amounts of long-lived assets (principally produced and licensed content costs) Stock-Based Compensation Income taxes The Company accounts for income taxes under FASB ASC 740, “ Accounting for Income Taxes” Accounting for Uncertainty in Income Taxes” The amount recognized is measured as the largest amount of benefit that is greater than 50 percent likely of being realized upon ultimate settlement. The Company assesses the validity of its conclusions regarding uncertain tax positions quarterly to determine if facts or circumstances have arisen that might cause it to change its judgment regarding the likelihood of a tax position’s sustainability under audit. Net Loss per Share Basic (loss) income per share is computed by dividing net (loss) income available to Common Stockholders by the weighted average number of common shares outstanding during the period. Diluted (loss) income per share reflects the potential dilution, using the treasury stock method that could occur if securities or other contracts to issue Common Stock were exercised or converted into Common Stock or resulted in the issuance of Common Stock that then shared in the (loss) income of the Company. In computing diluted (loss) income per share, the treasury stock method assumes that outstanding instruments are exercised/converted, and the proceeds are used to purchase Common Stock at the average market price during the period. Instruments may have a dilutive effect under the treasury stock method only when the average market price of the Common Stock during the period exceeds the exercise price/conversion rate of the instruments. The following common share equivalents are excluded from the calculation of weighted average common shares outstanding because their inclusion would have been anti-dilutive: SCHEDULE OF ANTIDILUTIVE SECURITIES EXCLUDED FROM COMPUTATION OF WEIGHTED AVERAGE COMMON SHARES OUTSTANDING December 31, 2023 December 31, 2022 Convertible Preferred Stock 382,900,000 382,900,000 382,900,000 382,900,000 Segment Information Operating segments are defined as components of an enterprise about which separate discrete information is available for evaluation by the chief operating decision maker (“CODM”), or decision-making group, in deciding how to allocate resources and in assessing performance. For the period of these financial statements, the CEO of the Company was the CODM. The Company views its operations and manages its business as one operating and reporting segment. New accounting standards The Company’s management has evaluated all the recently issued, but not yet effective, accounting standards and guidance that have been issued or proposed by the FASB or other standards-setting bodies through the filing date of these financial statements and does not believe the future adoption of any such pronouncements will have a material effect on the Company’s financial position and results of operations. |
Liquidity and Going Concern
Liquidity and Going Concern | 12 Months Ended |
Dec. 31, 2023 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Liquidity and Going Concern | Note 3 – Liquidity and Going Concern The Company’s financial statements are prepared using account principles generally accepted in the United States (“U.S. GAAP”) applicable to a going concern, which contemplates the realization of assets and liquidation of liabilities in the normal course of business. As of December 31, 2023, the Company has an accumulated deficit of approximately $ 5.0 1.4 The Company has a limited operating history, which makes it difficult to evaluate current business and future prospects. During 2023, the Company reported $ 169,111 461,174 no 178,500 178,500 4.4 |
Intangible Assets
Intangible Assets | 12 Months Ended |
Dec. 31, 2023 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Intangible Assets | NOTE 4. Intangible Assets The identifiable intangible assets consist of the following assets: SCHEDULE OF INTANGIBLE ASSETS December 31, 2023 December 31, 2022 Website placed in service $ 9,000 $ - Website - under development 42,000 - Software – predeployment 21,684 - Intangible assets, gross 72,684 - Accumulated amortization (1,000 ) - Intangible assets, net $ 71,684 $ - There were no Amortization expense recorded in the accompanying consolidated statements of operations was $ 1,000 |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2023 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Note 5 – Income Taxes The components of our deferred tax assets are as follows: SCHEDULE OF COMPONENTS OF DEFERRED TAX ASSETS 2023 2022 Deferred tax assets: Net operating loss carryforwards $ 514,000 $ 195,000 Less valuation allowance (514,000 ) (195,000 ) Net deferred tax assets $ - $ - The benefit of income taxes for the years ended December 31, 2023 and 2022 consist of the following: SCHEDULE OF BENEFIT OF INCOME TAXES 2023 2022 U.S. federal Current $ - $ - Deferred - - State and local Current - - Deferred - - Valuation allowance - - Income tax provision (benefit) $ - $ - At December 31, 2023, the Company has federal and state net operating loss carryforwards of approximately $ 65,000 expire in 2037 449,000 In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that one portion or all of the deferred tax assets will not be realized. The ultimate realization of the deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income, and tax planning strategies in making this assessment. Based upon the level of historical losses and the uncertainty of future taxable income over the periods which the Company will realize the benefits of its net deferred tax assets, management believes it is more likely than not that the Company will not fully realize the benefits on the balance of its net deferred tax assets and, accordingly, the Company has established full valuation allowance on its net deferred tax assets. |
Notes Payable
Notes Payable | 12 Months Ended |
Dec. 31, 2023 | |
Debt Disclosure [Abstract] | |
Notes Payable | Note 6 – Notes Payable Note Payable – Related Party On March 31, 2022, the Company agreed to exchange $ 299,401 3,000,000 0.10 300,000 231,901 67,500 68,760 During 2023, the Company borrowed $ 178,500 178,500 4.4 On March 1, 2023, the Company entered into a new Master Loan Agreement between Mr. MacGregor and the Company. During 2023, the Company borrowed $ 178,500 Economic Injury Disaster Loan In March 2021, the Company executed an Economic Injury Disaster Loan (“EIDL 149,900 30 years 3.75 |
Equity
Equity | 12 Months Ended |
Dec. 31, 2023 | |
Equity [Abstract] | |
Equity | Note 7 – Equity Common Stock The Company has 1,000,000,000 109,865,991 The Common Stock has a one share one voting right with no other rights. There are no provisions in the Company’s Articles of Incorporation, Articles of Amendment, or By-laws that would delay or prevent a change of control. The Board may from time to time declare, and the Company may pay, dividends on its shares in cash, property, or its own shares, except when the Corporation is insolvent, when the payment thereof would render the Company insolvent, subject to any preferential dividend rights of outstanding shares of preferred shares or when the declaration or payment thereof would be contrary to any other state law restrictions. Preferred Stock The Preferred Stock consists of 1,000,000 100,000 3,829 The Series A preferred shares have the following rights: (i.) a first position lien against all of the Company’s assets including but not limited to the Company’s IP (“Intellectual Property”), (ii.) is convertible at a ratio of 1 to 100,000 so that each one share of Series A preferred stock may be exchanged for 100,000 Common Stock shares, (iii.) and that each share of Series A preferred stock shall carry superior voting rights to the Company’s Common Stock and that each share of Series A preferred stock shall be counted as 1,000,000 votes in any Company vote and (iv.) and any other benefits as deemed necessary and appropriate at the time of such issuance. The “Liquidation Preference” with respect to a share of Series A preferred stock means an amount equal to the ratio of (i.) the total amount of the Company’s assets and funds available for distribution to the Series A preferred shares to (ii.) the number of shares of Series A preferred stock outstanding. The Series A preferred stock has a liquidation preference equal to $ 12.02 Dividend Provisions Subject to preferential dividend rights, if any, of the holders of Preferred Stock, dividends on the Common Stock may be declared by the Board of Directors and paid out of any funds legally available therefor at such times and in such amounts as the Board of Directors shall determine. |
Equity Based Compensation
Equity Based Compensation | 12 Months Ended |
Dec. 31, 2023 | |
Share-Based Payment Arrangement [Abstract] | |
Equity Based Compensation | Note 8– Equity Based Compensation The American Picture House Corporation 2023 Directors, Employees and Advisors Stock Incentive and Compensation Plan (the “Plan”) was established in January 2023 to create an additional incentive to promote the financial success and progress of the Company. The Plan shall be administered by the Board of Directors and may grant options to purchase shares of the authorized but unissued Common Stock of the Company. The options may be either incentive stock options or nonqualified stock options. The options granted under the Plan expire on the date determined by the Board of Directors and may not extend more than 10 years. Under the Plan, unless the board specifies otherwise, stock options must be granted at an exercise price not less than the fair value of the Company’s Common Stock on the grant date. The aggregate fair value of incentive stock options held by any optionee shall not exceed $ 100,000 The Board of Directors shall determine the terms and conditions of the options. The vesting requirements of all awards under the Plan may be time or event based and vary by individual grant. The incentive stock options and nonqualified stock options generally become exercisable over a two-year period. Vested and unexercised options may be available to be exercised no later than three months after termination of employment (or such longer period as determined by the Board of Directors). On January 11, 2024, the Company’s Board of Directors authorized the issuance of 250,000 1,673,250 662,983 497,238 5,083,471 0.0125 |
Contingencies and Uncertainties
Contingencies and Uncertainties | 12 Months Ended |
Dec. 31, 2023 | |
Commitments and Contingencies Disclosure [Abstract] | |
Contingencies and Uncertainties | Note 9 – Contingencies and Uncertainties Risks and Uncertainties Legal and other matters Pending Legal Proceeding: Randall S. Sprung v. Bannor Michael MacGregor, Jeffery Katz, and Life Design Station International, Inc. – Supreme Court of New York, County of Kings, Index No.: 504677/2019 This action instituted by Randall Sprung against the Defendants on March 4, 2019, to recover monies he alleges are owed by Defendants (Counter-Plaintiffs) pursuant to written agreements to purchase shares and to provide consulting services between the parties. Defendants Bannor Michael MacGregor and Life Design Station International, Inc. (“LDSI”) (Counter-Plaintiffs) have filed counterclaims to recover damages they have incurred as a direct result of Sprung’s failure to properly perform his obligations and duties under the written agreement between the parties. In February 2022, Plaintiff Sprung passed away. On May 25, 2023, the Court entered an Order substituting David Sprung, as Administrator of the Estate of Randall S. Sprung, for Randall S. Sprung as Defendant in the action. On January 8, 2024, Defendants LDSI and MacGregor filed their Motion for Summary Judgment with the Court seeking an order dismissing the action. Defendants’ Motion is currently pending before the Court. At this time, management is unable to make an estimate of the possible loss or range of loss, if any, although it estimates the risk of such loss to be low. Because management is unable to reasonably estimate the amount of any loss, if any, no loss accrual has been recorded. |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2023 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | NOTE 10 – Related Party Transactions The Company has agreed to indemnify Mr. MacGregor for all legal and professional costs originating from the lawsuit Randall S. Sprung v. Bannor Michael MacGregor, Jeffery Katz, and Life Design Station International, Inc. – Regarding the IMM Technology License more fully described in Note 2, Mr. MacGregor was a member of the Board of Directors of VASTECH from March 8, 2017 until July 7, 2021. Mr. MacGregor also owns approximately 2.5 4.9 During 2023 and 2022, the Company incurred approximately $ 200,000 120,000 0 65,000 The Company has consulting services relationships with members of the Board whereby they were compensated a total of $ 185,000 149,000 20,000 105,000 105,000 1,160,221 0.125 During 2022, the Company entered into consulting agreements with Ribo Music LLC aka 0 186,250 0 35,000 On March 31, 2022, the Company agreed to exchange $ 299,401 3,000,000 0.10 300,000 231,901 67,500 In August 2022, the Company funded Devil’s Half-Acre Productions, LLC owned by John Luessenhop to produce the feature film Devil’s Half-Acre written and directed by Dashiell Luessenhop, a son of A. John Luessenhop, a director of the Company. During the years ended December 31, 2023 and 2022, the Company capitalized $ 40,199 106,355 100 5,000 During 2022, the Company entered into definitive agreements to secure Bold Crayon Corporation (“Bold Crayon” or “BC”) as a development partner and purchased certain assets from Bold Crayon, including a portion of the rights to a feature film, and copyrights on six film titles. The Parties agree that APHP will designate BC as a “Content Partner”, wherein BC will develop content and present APHP with a first opportunity to co-finance and/or coproduce content developed by BC subject to a mutually agreed upon Content Partner Agreement and BC will accept such designation. The Company anticipates any rights and obligations between APH and BC to be effective upon the greenlighting of a specific film or show Mr. MacGregor, CEO/President and a director of the Company, Mr. MacGregor is also the CEO/President and a director of Bold Crayon and effectively controls Bold Crayon as a managing manager of the trustee of the trust that owns the majority ownership interest in Bold Crayon. Mr. Michael Blanchard was a past Director and Secretary/Treasurer of Bold Crayon and is a director of APHP. The transaction between the parties has been consummated and all IP and copyrights have been transferred. The assets acquired included: Bold Crayon’s (BC’s) ownership in the feature film “BUFFALOED” inclusive of: ● BC’s ownership rights in BUFFALOED as per the agreements between BC and Lost City Inc (“Lost City”), the Co-Finance/ Co-Production Agreement dated July 10th, 2018. ● A secured position of a one million three hundred eighty-thousand-dollar ($ 1,380,000 ● A thirty-five percent ( 35% ● Title and all copyrights to “THIEF” (including five titles) (U.S. Copyright #: V9968D472 (2019)), ● Title and copyright to “SPREAD THE WORD” (U.S. Copyright #: V9968D474 (2019)) The terms of the above agreement to purchase the BC assets included the following consideration: ● APHP agreed to pay BC the first one hundred thirty thousand dollars ($ 130,000.00 BUFFALOED ● APHP is to deliver one Preferred Share to BC for each ten thousand dollars ($ 10,000.00 BUFFALOED 130,000.00 125 ● APHP designated Bold Crayon as an APHP content development partner (“Content Partner”). ● APHP will provide Co-producer agreements to Bold Crayon when applicable. On November 10, 2022, the Company approved the optioning of MIDNIGHT’S DOOR 12,700 (provided the Company produces MIDNIGHT’S DOOR as a feature film and further subject to producer agreements with Luessenhop and MacGregor). 2.005 On November 10, 2022 the Company entered into an additional agreement regarding THE DEVIL’S HALF-ACRE DEVIL’S HALF-ACRE On November 10, 2022 the Company granted Mr. Luessenhop, a director of the Company, the right to purchase 2,000,000 0.0125 25,000 12,417 12,583 During 2023, the Company borrowed $ 178,500 178,500 4.4 In November 2023, the Company entered into a Consulting Agreement with A. John Luessenhop a director of the Company, pursuant to which Mr. Luessenhop serves as President of the Company. During 2023, Mr. Luessenhop was paid $ 80,000 In November 2023, the Company entered into a Consulting Agreement with Michael Blanchard, a director of the Company, pursuant to which Mr. Blanchard agree to serve as an advisor to the Company to promote the quality of the Company’s products and services and to enhance and develop the Company’s relationships with the entertainment industry and technology developers. In return for these services, the Company paid Mr. Blanchard $ 40,625 In November 2023, the Company entered into a Consulting Agreement with Philip Quartararo, a director of the Company, pursuant to which Mr. Quartararo acted as an advisor to the Company to promote the quality of the Company’s products and services and to enhance and develop the Company’s relationships with the entertainment industry and technology developers. In return for these services, the Company paid Mr. Quartararo $ 10,000.00 |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 12 Months Ended |
Dec. 31, 2023 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | NOTE 11 – SUBSEQUENT EVENTS In accordance with FASB ASC 855-10, Subsequent Events Sales of Common Stock During the period January 1, 2024 to present, the Company sold 75,000 0.20 15,000 Stock Option Grants On January 11, 2024, the Company’s Board of Directors authorized the issuance of 250,000 1,673,250 662,983 497,238 5,083,471 0.0125 Noah Morgan Private Family Trust Loan Agreement (“NMPFT”) On February 6, 2024, the Company entered into a master loan agreement with the NMPFT. The master note agreement accrues interest at a rate of 4.68 200,000 February 6, 2025 200,000 50,000 Senior Mezzanine Loan Agreement with Barron’s Cove Movie, LLC In February 2024, the Company loaned $ 200,000 20,000 10,000 The $200,00 loan, plus a premium of twenty percent (20%), is due and payable on that date which is the earlier of either (a) twelve (12) months from the date of the loan, or (b) from allocable proceeds received by Barron’s Cove Movie, LLC related to the movie, whichever occurs first On March 18, 2024, the Company received $ 54,951 31,948 23,003 249,924 304,875 304,875 |
Summary Of Significant Aaccou_2
Summary Of Significant Aaccounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2023 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation The accompanying financial statements have been prepared in accordance with the Financial Accounting Standards Board (“ FASB Codification GAAP |
Principles of Consolidation | Principles of Consolidation The condensed consolidated financial statements of the Company include the accounts of American Picture House Corporation and its wholly owned subsidiaries, Devil’s Half-Acre, LLC and Ask Christine Productions, LLC. |
Going Concern | Going Concern The accompanying financial statements have been prepared assuming the Company will continue as a going concern, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business for the twelve months following the date of these financial statements. As of December 31, 2023, the Company had working capital of $ 164,496 5,021,696 Because the Company does not expect that the existing operational cash flow will be sufficient to fund presently anticipated operations, this raises substantial doubt about the Company’s ability to continue as a going concern. Therefore, the Company will need to raise additional funds and is currently exploring alternative sources of financing. Recently the Company has been funded by related party shareholders and officers. Historically, the Company raised capital through private placements, to finance working capital needs and may attempt to raise capital through the sale of common stock or other securities and obtaining some short-term loans. The Company will be required to continue to do so until its operations become profitable. Also, the Company has, in the past, paid for consulting services with its common stock to maximize working capital, and intends to continue this practice where feasible. |
Use of Estimates | Use of Estimates The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of 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. The most significant estimates relate to income taxes and contingencies. The Company bases its estimates on historical experience, known or expected trends, and various other assumptions that are believed to be reasonable given the quality of information available as of the date of these financial statements. The results of these assumptions provide the basis for making estimates about the carrying amount of assets and liabilities that are not readily apparent from other sources. Actual results could differ from these estimates. |
Cash and cash equivalents | Cash and cash equivalents Cash equivalents are short-term highly liquid investments which include short term bank deposits (up to three months from date of deposit), that are not restricted as to withdrawals or use that are readily convertible to cash with maturities of three months or less as of the date acquired. The Company’s policy is to maintain its cash balances with financial institutions with high credit ratings and in accounts insured by the Federal Deposit Insurance Corporation (the “FDIC”) and/or by the Securities Investor Protection Corporation (the “SIPC”). The Company may periodically have cash balances in financial institutions in excess of the FDIC and SIPC insurance limits of $ 250,000 500,000 |
Accounts receivable | Accounts receivable Accounts receivable primarily consist of trade receivables due from customers for consulting services and from fees derived from licensing of IP to content providers worldwide. As of December 31, 2023, 100 BUFFALOED Assigned Rights to feature film, BUFFALOED 10 17 72 35,000 249,000 BUFFALOED 193,932 no no SCHEDULE OF ACCOUNTS RECEIVABLE December 31, 2023 December 31, 2022 Accounts receivable, trade $ - $ 60,000 Accounts receivable, related party - 35,000 Accounts receivable, CAMA 31,948 249,924 Accounts receivable $ 31,948 $ 344,924 |
Allowance for doubtful accounts | Allowance for doubtful accounts The allowance for doubtful accounts is determined with respect to amounts the Company has determined to be doubtful of collection. In determining the allowance for doubtful accounts, the Company considers, among other things, its past experience with customers, the length of time that the balance is past due, the customer’s current ability to pay and available information about the credit risk on such customers. During the years ended December 31, 2023 and 2022, the Company recorded no |
Prepaid expenses | Prepaid expenses At December 31, 2023, prepaid expenses consisted of prepaid insurance, prepaid licenses, and prepaid services. Prepaid expenses are amounts paid to secure the use of assets or the receipt of services at a future date or continuously over one or more future periods. When the prepaid expenses are eventually consumed, they are charged to expense. The Company had $ 29,185 32,862 |
Produced and Licensed Content Costs | Produced and Licensed Content Costs Capitalized production costs, whether produced or acquired/ licensed rights, include development costs, direct costs and production overhead. These amounts and licensed content are included in “Produced and Licensed Content Costs” on the balance sheet as follows: SCHEDULE OF PRODUCED AND LICENSED CONTENT COSTS December 31, 2023 Films in development and pre-production stage $ 210,633 $ 210,633 Production costs for content that is predominantly expected to be monetized individually will be amortized based upon the ratio of the current period’s revenues to the estimated remaining total revenues (Ultimate Revenues) Investment in Films: Recording Cost. Amortization. Ultimate Revenue. Development. Licensed Program Rights: General. Recording Cost. Amortization. Changes in management’s estimate of the anticipated exhibitions and viewership patterns of films and original series on our networks could result in the earlier recognition of our programming costs than anticipated. Conversely, scheduled exhibitions and expected viewership patterns may not capture the appropriate usage of the program rights in current periods which would lead to the write-off of additional program rights in future periods and may have a significant impact on our future results of operations and our financial position. Impairment Assessment for Investment in Films and Licensed Program Rights General. Content Monetized Individually. Content Monetized as a Group. Valuation Assumptions. Assigned rights to the feature film, BUFFALOED. BUFFALOED 1,380,000.00 35 249,924 249,924 Bold Crayon’s (BC’s) ownership in the feature film “BUFFALOED” inclusive of: ● BC’s ownership rights in BUFFALOED as per the agreements between BC and Lost City Inc (“Lost City”), the Co-Finance/ Co-Production Agreement dated July 10th, 2018. ● A secured position of a one million three hundred eighty-thousand-dollar ($ 1,380,000 ● A thirty-five percent ( 35 ● Title and all copyrights to “THIEF” (including five titles) (U.S. Copyright #: V9968D472 (2019)), Title and copyright to “SPREAD THE WORD” (U.S. Copyright #: V9968D474 (2019)) The terms of the above agreement to purchase the BC assets include: As consideration for the BC Assets being acquired by APH hereunder, APH shall pay to Bold Crayon the below purchase price (the “Purchase Price”): ● APHP provided a promise in the form of a contingent promissory note to pay BC the first one hundred thirty thousand dollars ($ 130,000.00 BUFFALOED ● APHP will deliver one Preferred Share to BC for each ten thousand dollars ($ 10,000.00 BUFFALOED 130,000.00 125 ● APHP designated Bold Crayon as an APHP content development partner (“Content Partner”). ● APHP will provide Co-producer agreements to Bold Crayon when applicable. During 2019, Magnolia Pictures acquired the distribution rights to BUFFALOED BUFFALOED 130,000 249,924 IMM Technology License and Related Advances and Loans (U.K. Company Number: 08312665) 1,600,000 6 In December 2021, management of the Company re-evaluated the $ 266,387 0 |
Intangible assets | Intangible assets The Company’s intangible assets include in-service and under-development websites and licensed internal use software. During the year ended December 31, 2023 the Company developed an external website that was placed in service during the third quarter of 2023. Additionally, during the fourth quarter of 2023 the Company began developing additional aspects of its website that are expected to go live in the first quarter of 2024. During the fourth quarter of 2023, the Company licensed rights to new internal use software that is expected to be placed in service during the first quarter of 2024. The Company accounts for website development costs in accordance with Accounting Standards Codification 350-50 “Website Development Costs” (ASC 350-50). All costs incurred in the planning stage are expensed as incurred, costs incurred in the website application and infrastructure development stage are accounted for in accordance with ASC 350-50 which requires the capitalization of certain costs that meet specific criteria, and costs incurred in the day-to-day operation of the website are expensed as incurred. The Company capitalizes external website development costs (“website costs”), which primarily include third-party costs related to developing applications, as well as costs incurred to develop or acquire and customize code for web applications, costs to develop HTML web pages or develop templates and costs to create initial graphics for the website that included the design or layout of each page. Through December 31, 2023, the capitalized costs of the Company’s websites placed into service were subject to straight-line amortization over a three-year |
Deferred Revenue | Deferred Revenue Deferred revenue represents the amount billed to clients that has not yet been earned, pursuant to agreements entered into in current and prior periods. As of December 31, 2023 and 2022, total net deferred revenue was $ 0 35,000 |
Revenues and Costs from Services and Products | Revenues and Costs from Services and Products 13 33 54 Revenues from Films and Licensed Rights The cost of services includes only those costs directly related to the services being rendered. For the 2022 period, a majority of the consulting services were performed by the Company’s CEO, Mr. MacGregor, who as described in Note 3 was providing the Company with financing and, as a result, did not receive any separate current or deferred compensation for these services. Due to Mr. MacGregor’s limited annual compensation of $ 5,000 0 131,722 130,000 0 249,924 |
Fair Value Measurements | Fair Value Measurements – Level 1 - unadjusted quoted prices are available in active markets for identical assets or liabilities that the Company has the ability to access as of the measurement date. Level 2 - pricing inputs are other than quoted prices in active markets that are directly observable for the asset or liability or indirectly observable through corroboration with observable market data. Level 3 - pricing inputs are unobservable for the non-financial asset or liability and only used when there is little, if any, market activity for the non-financial asset or liability at the measurement date. The inputs into the determination of fair value require significant management judgment or estimation. Level 3 inputs are considered as the lowest priority within the fair value hierarchy. The valuation of the right to obtain control over affiliated company, right to acquire shares of other companies, contingent consideration to be paid upon achieving of performance milestone, certain convertible bridge loans (following the maturity date and thereafter) and certain freestanding stock warrants and bifurcated convertible feature of convertible bridge loans issued to the units’ owners, fall under this category. This hierarchy requires the Company to use observable market data, when available, and to minimize the use of unobservable inputs when determining fair value. The fair value of cash and cash equivalents is based on its demand value, which is equal to its carrying value. Additionally, the carrying value of all other short-term monetary assets and liabilities are estimated to be equal to their fair value due to the short-term nature of these instruments. |
Valuation of Long-Lived Assets | Valuation of Long-Lived Assets The Company evaluates whether events or circumstances have occurred which indicate that the carrying amounts of long-lived assets (principally produced and licensed content costs) |
Stock-Based Compensation | Stock-Based Compensation |
Income taxes | Income taxes The Company accounts for income taxes under FASB ASC 740, “ Accounting for Income Taxes” Accounting for Uncertainty in Income Taxes” The amount recognized is measured as the largest amount of benefit that is greater than 50 percent likely of being realized upon ultimate settlement. The Company assesses the validity of its conclusions regarding uncertain tax positions quarterly to determine if facts or circumstances have arisen that might cause it to change its judgment regarding the likelihood of a tax position’s sustainability under audit. |
Net Loss per Share | Net Loss per Share Basic (loss) income per share is computed by dividing net (loss) income available to Common Stockholders by the weighted average number of common shares outstanding during the period. Diluted (loss) income per share reflects the potential dilution, using the treasury stock method that could occur if securities or other contracts to issue Common Stock were exercised or converted into Common Stock or resulted in the issuance of Common Stock that then shared in the (loss) income of the Company. In computing diluted (loss) income per share, the treasury stock method assumes that outstanding instruments are exercised/converted, and the proceeds are used to purchase Common Stock at the average market price during the period. Instruments may have a dilutive effect under the treasury stock method only when the average market price of the Common Stock during the period exceeds the exercise price/conversion rate of the instruments. The following common share equivalents are excluded from the calculation of weighted average common shares outstanding because their inclusion would have been anti-dilutive: SCHEDULE OF ANTIDILUTIVE SECURITIES EXCLUDED FROM COMPUTATION OF WEIGHTED AVERAGE COMMON SHARES OUTSTANDING December 31, 2023 December 31, 2022 Convertible Preferred Stock 382,900,000 382,900,000 382,900,000 382,900,000 |
Segment Information | Segment Information Operating segments are defined as components of an enterprise about which separate discrete information is available for evaluation by the chief operating decision maker (“CODM”), or decision-making group, in deciding how to allocate resources and in assessing performance. For the period of these financial statements, the CEO of the Company was the CODM. The Company views its operations and manages its business as one operating and reporting segment. |
New accounting standards | New accounting standards The Company’s management has evaluated all the recently issued, but not yet effective, accounting standards and guidance that have been issued or proposed by the FASB or other standards-setting bodies through the filing date of these financial statements and does not believe the future adoption of any such pronouncements will have a material effect on the Company’s financial position and results of operations. |
Summary Of Significant Aaccou_3
Summary Of Significant Aaccounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Accounting Policies [Abstract] | |
SCHEDULE OF ACCOUNTS RECEIVABLE | SCHEDULE OF ACCOUNTS RECEIVABLE December 31, 2023 December 31, 2022 Accounts receivable, trade $ - $ 60,000 Accounts receivable, related party - 35,000 Accounts receivable, CAMA 31,948 249,924 Accounts receivable $ 31,948 $ 344,924 |
SCHEDULE OF PRODUCED AND LICENSED CONTENT COSTS | Capitalized production costs, whether produced or acquired/ licensed rights, include development costs, direct costs and production overhead. These amounts and licensed content are included in “Produced and Licensed Content Costs” on the balance sheet as follows: SCHEDULE OF PRODUCED AND LICENSED CONTENT COSTS December 31, 2023 Films in development and pre-production stage $ 210,633 $ 210,633 |
SCHEDULE OF ANTIDILUTIVE SECURITIES EXCLUDED FROM COMPUTATION OF WEIGHTED AVERAGE COMMON SHARES OUTSTANDING | The following common share equivalents are excluded from the calculation of weighted average common shares outstanding because their inclusion would have been anti-dilutive: SCHEDULE OF ANTIDILUTIVE SECURITIES EXCLUDED FROM COMPUTATION OF WEIGHTED AVERAGE COMMON SHARES OUTSTANDING December 31, 2023 December 31, 2022 Convertible Preferred Stock 382,900,000 382,900,000 382,900,000 382,900,000 |
Intangible Assets (Tables)
Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
SCHEDULE OF INTANGIBLE ASSETS | The identifiable intangible assets consist of the following assets: SCHEDULE OF INTANGIBLE ASSETS December 31, 2023 December 31, 2022 Website placed in service $ 9,000 $ - Website - under development 42,000 - Software – predeployment 21,684 - Intangible assets, gross 72,684 - Accumulated amortization (1,000 ) - Intangible assets, net $ 71,684 $ - |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Income Tax Disclosure [Abstract] | |
SCHEDULE OF COMPONENTS OF DEFERRED TAX ASSETS | The components of our deferred tax assets are as follows: SCHEDULE OF COMPONENTS OF DEFERRED TAX ASSETS 2023 2022 Deferred tax assets: Net operating loss carryforwards $ 514,000 $ 195,000 Less valuation allowance (514,000 ) (195,000 ) Net deferred tax assets $ - $ - |
SCHEDULE OF BENEFIT OF INCOME TAXES | The benefit of income taxes for the years ended December 31, 2023 and 2022 consist of the following: SCHEDULE OF BENEFIT OF INCOME TAXES 2023 2022 U.S. federal Current $ - $ - Deferred - - State and local Current - - Deferred - - Valuation allowance - - Income tax provision (benefit) $ - $ - |
SCHEDULE OF ACCOUNTS RECEIVABLE
SCHEDULE OF ACCOUNTS RECEIVABLE (Details) - USD ($) | Dec. 31, 2023 | Dec. 31, 2022 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Accounts receivable | $ 31,948 | $ 344,924 |
Cash Asset Management Agreement [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Accounts receivable | 31,948 | 249,924 |
Related Party [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Accounts receivable | 35,000 | |
Trade Accounts Receivable [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Accounts receivable | $ 60,000 |
SCHEDULE OF PRODUCED AND LICENS
SCHEDULE OF PRODUCED AND LICENSED CONTENT COSTS (Details) - USD ($) | Dec. 31, 2023 | Dec. 31, 2022 |
Accounting Policies [Abstract] | ||
Filims in development and pre-production stage | $ 210,633 | |
Produced and licensed content costs | $ 210,633 | $ 121,355 |
SCHEDULE OF ANTIDILUTIVE SECURI
SCHEDULE OF ANTIDILUTIVE SECURITIES EXCLUDED FROM COMPUTATION OF WEIGHTED AVERAGE COMMON SHARES OUTSTANDING (Details) - shares | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Antidilutive securities excluded from computation of earnings per share, amount | 382,900,000 | 382,900,000 |
Convertible Preferred Stock [Member] | ||
Antidilutive securities excluded from computation of earnings per share, amount | 382,900,000 | 382,900,000 |
Summary Of Significant Aaccou_4
Summary Of Significant Aaccounting Policies (Details Narrative) | 1 Months Ended | 6 Months Ended | 12 Months Ended | |||||
Nov. 10, 2022 USD ($) | Mar. 31, 2021 | Jun. 30, 2023 USD ($) | Dec. 31, 2023 USD ($) shares | Dec. 31, 2022 USD ($) | Dec. 31, 2023 EUR (€) | Dec. 01, 2022 USD ($) | Dec. 31, 2021 USD ($) | |
Product Information [Line Items] | ||||||||
Working capital | $ 164,496 | |||||||
Accumulated deficit | 5,021,696 | $ 3,655,378 | ||||||
Cash, FDIC insured amount | 250,000 | |||||||
Cash, SIPC insured amount | 500,000 | |||||||
Accounts receivable | 31,948 | 344,924 | ||||||
Reserve for uncollectible receivable | 193,932 | |||||||
Bad debt expense | 0 | 0 | ||||||
Allowance for doubtful accounts | 0 | 0 | ||||||
Prepaid expenses | 29,185 | 32,862 | ||||||
Assumed liability | $ 130,000 | |||||||
Annual interest rate | 3.75% | |||||||
Loans receivable | ||||||||
Amortization period | 3 years | 3 years | ||||||
Net deferred revenue | 35,000 | |||||||
Chief Executive Officer [Member] | ||||||||
Product Information [Line Items] | ||||||||
Annual compensation per month | $ 5,000 | 0 | ||||||
Cost of goods and services | 131,722 | |||||||
IMM Technology [Member] | ||||||||
Product Information [Line Items] | ||||||||
Advance licensing royalties | € | € 1,600,000 | |||||||
Annual interest rate | 6% | |||||||
Loans receivable | $ 0 | 0 | $ 266,387 | |||||
Bold Crayons [Member] | ||||||||
Product Information [Line Items] | ||||||||
Asset acquisition, purchase price consideration | 130,000 | |||||||
Cost of goods and services | 130,000 | |||||||
Bold Crayons [Member] | Preferred Stock [Member] | ||||||||
Product Information [Line Items] | ||||||||
Asset acquisition, purchase price consideration | $ 10,000 | |||||||
Asset acquisition, number of shares | shares | 125 | |||||||
Cash Asset Management Agreement [Member] | ||||||||
Product Information [Line Items] | ||||||||
Accounts receivable | $ 31,948 | 249,924 | ||||||
Grants receivable | 249,924 | $ 1,380,000 | ||||||
Share of profits percentage | 35% | |||||||
Revenue recognized | 249,924 | 249,924 | ||||||
Revenues | $ 0 | 249,924 | ||||||
One Related Party [Member] | ||||||||
Product Information [Line Items] | ||||||||
Accounts receivable | 35,000 | |||||||
BUFFALOED CAMA [Member] | ||||||||
Product Information [Line Items] | ||||||||
Accounts receivable | $ 249,000 | |||||||
Accounts Receivable [Member] | Customer Concentration Risk [Member] | BUFFALOED CAMA [Member] | ||||||||
Product Information [Line Items] | ||||||||
Concentration risk, percentage | 100% | |||||||
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Customer One [Member] | ||||||||
Product Information [Line Items] | ||||||||
Concentration risk, percentage | 10% | |||||||
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Customer Two [Member] | ||||||||
Product Information [Line Items] | ||||||||
Concentration risk, percentage | 17% | |||||||
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Customer Three [Member] | ||||||||
Product Information [Line Items] | ||||||||
Concentration risk, percentage | 72% | |||||||
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Customer One [Member] | ||||||||
Product Information [Line Items] | ||||||||
Concentration risk, percentage | 13% | |||||||
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Customer Two [Member] | ||||||||
Product Information [Line Items] | ||||||||
Concentration risk, percentage | 33% | |||||||
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Customer Three [Member] | ||||||||
Product Information [Line Items] | ||||||||
Concentration risk, percentage | 54% |
Liquidity and Going Concern (De
Liquidity and Going Concern (Details Narrative) - USD ($) | 12 Months Ended | |||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||||
Accumulated deficit | $ 5,021,696 | $ 3,655,378 | ||
Net loss | 1,366,318 | 85,756 | ||
Proceeds from debt borrowings | 178,500 | 115,260 | ||
Repayments of related party debt | $ 178,500 | 68,760 | ||
Debt instrument, accrued interest rate | 4.40% | |||
Service [Member] | ||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||||
Revenues | $ 169,111 | $ 461,174 | $ 0 | $ 0 |
SCHEDULE OF INTANGIBLE ASSETS (
SCHEDULE OF INTANGIBLE ASSETS (Details) - USD ($) | Dec. 31, 2023 | Dec. 31, 2022 |
Finite-Lived Intangible Assets [Line Items] | ||
Intangible assets, gross | $ 72,684 | |
Accumulated amortization | (1,000) | |
Intangible assets, net | 71,684 | |
Website Placed In Service [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Intangible assets, gross | 9,000 | |
Website Under Development [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Intangible assets, gross | 42,000 | |
Software Predeployment [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Intangible assets, gross | $ 21,684 |
Intangible Assets (Details Narr
Intangible Assets (Details Narrative) - USD ($) | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Goodwill and Intangible Assets Disclosure [Abstract] | ||
Impairment charges | $ 0 | $ 0 |
Amortization of intangible assets | $ 1,000 |
SCHEDULE OF COMPONENTS OF DEFER
SCHEDULE OF COMPONENTS OF DEFERRED TAX ASSETS (Details) - USD ($) | Dec. 31, 2023 | Dec. 31, 2022 |
Deferred tax assets: | ||
Net operating loss carryforwards | $ 514,000 | $ 195,000 |
Less valuation allowance | (514,000) | (195,000) |
Net deferred tax assets |
SCHEDULE OF BENEFIT OF INCOME T
SCHEDULE OF BENEFIT OF INCOME TAXES (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Income Tax Disclosure [Abstract] | ||
U.S. federal, current | ||
U.S. federal, deferred | ||
State and local, current | ||
State and local, deferred | ||
Valuation allowance | ||
Income tax provision (benefit) |
Income Taxes (Details Narrative
Income Taxes (Details Narrative) | 12 Months Ended |
Dec. 31, 2023 USD ($) | |
Federal and State [Member] | |
Operating Loss Carryforwards [Line Items] | |
Net operating loss carryforwards | $ 65,000 |
Operating loss carryforwards, expiration period | expire in 2037 |
Domestic Tax Authority [Member] | |
Operating Loss Carryforwards [Line Items] | |
Net operating loss carryforwards | $ 449,000 |
Notes Payable (Details Narrativ
Notes Payable (Details Narrative) - USD ($) | 1 Months Ended | 12 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | Dec. 31, 2023 | Dec. 31, 2022 | |
Defined Benefit Plan Disclosure [Line Items] | ||||
Common stock, value, issued | $ 1,467,834 | |||
Repayments of related party debt | 178,500 | $ 68,760 | ||
Proceeds from debt borrowings | $ 178,500 | 115,260 | ||
Debt instrument, accrued interest rate | 4.40% | |||
Economic injury disaster loan, non-current | $ 149,900 | $ 149,900 | $ 149,900 | |
Debt instrument term | 30 years | |||
Interest rate | 3.75% | |||
Chief Executive Officer [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Notes payable | $ 299,401 | |||
Shares issued | 3,000,000 | |||
Shares issued price per share | $ 0.10 | |||
Common stock, value, issued | $ 300,000 | |||
Debt retire | 231,901 | |||
Accrued legal fees | $ 67,500 |
Equity (Details Narrative)
Equity (Details Narrative) - $ / shares | 12 Months Ended | ||
Dec. 31, 2023 | Mar. 13, 2024 | Dec. 31, 2022 | |
Class of Stock [Line Items] | |||
Common stock, shares authorized | 1,000,000,000 | 1,000,000,000 | |
Common stock, shares issued | 109,790,991 | 100,735,159 | |
Common stock, shares outstanding | 109,790,991 | 100,735,159 | |
Preferred stock, shares designated | 1,000,000 | 1,000,000 | |
Preferred stock, shares issued | 3,829 | 3,829 | |
Preferred stock, shares outstanding | 3,829 | 3,829 | |
Series A Preferred Stock [Member] | |||
Class of Stock [Line Items] | |||
Preferred stock, shares designated | 100,000 | ||
Preferred stock, shares issued | 3,829 | ||
Preferred stock, shares outstanding | 3,829 | ||
Preferred stock, voting rights | The Series A preferred shares have the following rights: (i.) a first position lien against all of the Company’s assets including but not limited to the Company’s IP (“Intellectual Property”), (ii.) is convertible at a ratio of 1 to 100,000 so that each one share of Series A preferred stock may be exchanged for 100,000 Common Stock shares, (iii.) and that each share of Series A preferred stock shall carry superior voting rights to the Company’s Common Stock and that each share of Series A preferred stock shall be counted as 1,000,000 votes in any Company vote and (iv.) and any other benefits as deemed necessary and appropriate at the time of such issuance. | ||
Preferred stock, liquidation preference per share | $ 12.02 | ||
Subsequent Event [Member] | |||
Class of Stock [Line Items] | |||
Common stock, shares issued | 109,865,991 | ||
Common stock, shares outstanding | 109,865,991 |
Equity Based Compensation (Deta
Equity Based Compensation (Details Narrative) - USD ($) | 12 Months Ended | |
Jan. 11, 2024 | Dec. 31, 2023 | |
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | ||
Fair value of stock options | $ 100,000 | |
Subsequent Event [Member] | ||
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | ||
Issuance of options | 5,083,471 | |
Exercise price of options | $ 0.0125 | |
Board of Directors Chairman [Member] | Subsequent Event [Member] | ||
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | ||
Issuance of options | 250,000 | |
Advisors [Member] | Subsequent Event [Member] | ||
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | ||
Issuance of options | 1,673,250 | |
Macgregor [Member] | Subsequent Event [Member] | ||
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | ||
Issuance of options | 662,983 | |
Blanchard [Member] | Subsequent Event [Member] | ||
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | ||
Issuance of options | 497,238 |
Related Party Transactions (Det
Related Party Transactions (Details Narrative) - USD ($) | 1 Months Ended | 12 Months Ended | |||||||
Jan. 01, 2023 | Nov. 10, 2022 | Mar. 31, 2022 | Nov. 30, 2023 | Sep. 30, 2023 | Dec. 31, 2023 | Dec. 31, 2022 | Jul. 31, 2023 | Dec. 01, 2022 | |
Related Party Transaction [Line Items] | |||||||||
Accounts payable and accrued expenses | $ 0 | $ 65,000 | |||||||
Services accrued and unpaid | 20,000 | 105,000 | |||||||
Conversion of accrued liabilities into options to purchase common stock | $ 105,000 | ||||||||
Conversion of accrued liabilities into options to purchase common stock, shares | 1,160,221 | ||||||||
Share price | $ 0.125 | ||||||||
Accounts receivable related party | 31,948 | 344,924 | |||||||
Purchase price to paid | 1,467,834 | ||||||||
Loan borrowed | 178,500 | 115,260 | |||||||
Loan repaid | $ 178,500 | 68,760 | |||||||
Accrued interest rate | 4.40% | ||||||||
Preferred Stock [Member] | |||||||||
Related Party Transaction [Line Items] | |||||||||
Purchase price to paid | |||||||||
Bold Crayons [Member] | |||||||||
Related Party Transaction [Line Items] | |||||||||
Asset acquisition, purchase price consideration | 130,000 | ||||||||
Bold Crayons [Member] | Preferred Stock [Member] | |||||||||
Related Party Transaction [Line Items] | |||||||||
Asset acquisition, purchase price consideration | $ 10,000 | ||||||||
Asset acquisition, number of shares | 125 | ||||||||
Cash Asset Management Agreement [Member] | |||||||||
Related Party Transaction [Line Items] | |||||||||
Revenues | $ 0 | 249,924 | |||||||
Accounts receivable related party | 31,948 | 249,924 | |||||||
Receivable | 249,924 | $ 1,380,000 | |||||||
Share profit percentage | 35% | ||||||||
Consulting Services [Member] | |||||||||
Related Party Transaction [Line Items] | |||||||||
Compensation expenses | 185,000 | 149,000 | |||||||
Director [Member] | |||||||||
Related Party Transaction [Line Items] | |||||||||
Consulting fees | 200,000 | 120,000 | |||||||
production costs | 40,199 | 106,355 | |||||||
Devils Half Acre Productions LLC [Member] | |||||||||
Related Party Transaction [Line Items] | |||||||||
Ownersip description | 100% | ||||||||
Mr Luessenhop [Member] | |||||||||
Related Party Transaction [Line Items] | |||||||||
Ownersip description | 200.50% | ||||||||
Common shares granted | 2,000,000 | ||||||||
Common shares granted, per share | $ 0.0125 | ||||||||
Purchase price to paid | $ 25,000 | ||||||||
Film optioning costs | 12,700 | ||||||||
Account payable | 12,417 | ||||||||
Cash | $ 12,583 | ||||||||
loan paid | $ 80,000 | ||||||||
Mr. Macgregor [Member] | Vastech Holdings LTD [Member] | |||||||||
Related Party Transaction [Line Items] | |||||||||
Ownersip description | 2.50% | ||||||||
Mr. Macgregor [Member] | Intellitech Pty Ltd [Member] | |||||||||
Related Party Transaction [Line Items] | |||||||||
Ownersip description | 4.90% | ||||||||
Ribo Music LLC [Member] | |||||||||
Related Party Transaction [Line Items] | |||||||||
Revenues | $ 0 | 186,250 | |||||||
Accounts receivable related party | $ 0 | $ 35,000 | |||||||
Chief Executive Officer [Member] | |||||||||
Related Party Transaction [Line Items] | |||||||||
Notes payable | $ 299,401 | ||||||||
Common shares granted | 3,000,000 | ||||||||
Common shares granted, per share | $ 0.10 | ||||||||
Purchase price to paid | $ 300,000 | ||||||||
Debt retire | 231,901 | ||||||||
Accrued legal fees | $ 67,500 | ||||||||
Dashiell Luessenhop [Member] | |||||||||
Related Party Transaction [Line Items] | |||||||||
Option fee to writer | $ 5,000 | ||||||||
Michael Blanchard [Member] | |||||||||
Related Party Transaction [Line Items] | |||||||||
Consulting fees | $ 40,625 | ||||||||
Philip Quartararo [Member] | |||||||||
Related Party Transaction [Line Items] | |||||||||
Consulting fees | $ 10,000 |
SUBSEQUENT EVENTS (Details Narr
SUBSEQUENT EVENTS (Details Narrative) - USD ($) | 1 Months Ended | 12 Months Ended | ||||||
Mar. 18, 2024 | Feb. 06, 2024 | Jan. 11, 2024 | Jan. 01, 2024 | Feb. 29, 2024 | Dec. 31, 2022 | Mar. 31, 2024 | Dec. 31, 2023 | |
Subsequent Event [Line Items] | ||||||||
Interest rate | 4.40% | |||||||
Accounts receivable | $ 344,924 | $ 31,948 | ||||||
Cash Asset Management Agreement [Member] | ||||||||
Subsequent Event [Line Items] | ||||||||
Accounts receivable | 249,924 | $ 31,948 | ||||||
Cumulative proceeds | $ 304,875 | |||||||
Asset Purchase Agreement [Member] | ||||||||
Subsequent Event [Line Items] | ||||||||
Cumulative proceeds | $ 304,875 | |||||||
Subsequent Event [Member] | ||||||||
Subsequent Event [Line Items] | ||||||||
Accounts receivable | 31,948 | |||||||
Subsequent Event [Member] | Noah Morgan Private Family Trust Loan Agreement [Member] | ||||||||
Subsequent Event [Line Items] | ||||||||
Interest rate | 4.68% | |||||||
Debt instrument, face amount | 50,000 | $ 200,000 | ||||||
Debt instrument, maturity date | Feb. 06, 2025 | |||||||
Repayments of related party debt | $ 200,000 | |||||||
Subsequent Event [Member] | Senior Mezzannine Loan Agreement With Barrons Cove Movie LLC [Member] | ||||||||
Subsequent Event [Line Items] | ||||||||
Debt instrument, face amount | $ 200,000 | |||||||
Pay from executive producer fees | $ 20,000 | |||||||
Debt instrument, description | The $200,00 loan, plus a premium of twenty percent (20%), is due and payable on that date which is the earlier of either (a) twelve (12) months from the date of the loan, or (b) from allocable proceeds received by Barron’s Cove Movie, LLC related to the movie, whichever occurs first | |||||||
Subsequent Event [Member] | Cash Asset Management Agreement [Member] | ||||||||
Subsequent Event [Line Items] | ||||||||
Accounts receivable | $ 54,951 | $ 23,003 | ||||||
Subsequent Event [Member] | Nine Board [Member] | ||||||||
Subsequent Event [Line Items] | ||||||||
Options issued to purchase common shares | 250,000 | |||||||
Subsequent Event [Member] | Advisors [Member] | ||||||||
Subsequent Event [Line Items] | ||||||||
Options issued to purchase common shares | 1,673,250 | |||||||
Subsequent Event [Member] | Mr. Macgregor [Member] | ||||||||
Subsequent Event [Line Items] | ||||||||
Options issued to purchase common shares | 662,983 | |||||||
Subsequent Event [Member] | Mr. Macgregor [Member] | Senior Mezzannine Loan Agreement With Barrons Cove Movie LLC [Member] | ||||||||
Subsequent Event [Line Items] | ||||||||
Pay from executive producer fees | $ 10,000 | |||||||
Subsequent Event [Member] | Mr Blanchard [Member] | ||||||||
Subsequent Event [Line Items] | ||||||||
Options issued to purchase common shares | 497,238 | |||||||
Options issued to purchase common shares | 5,083,471 | |||||||
Options exercise price | $ 0.0125 | |||||||
New Investors [Member] | Subsequent Event [Member] | ||||||||
Subsequent Event [Line Items] | ||||||||
Sale of stock | 75,000 | |||||||
Sale of stock price per share | $ 0.20 | |||||||
Total proceeds | $ 15,000 |