Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2022 | Sep. 19, 2022 | |
Document Information Line Items | ||
Entity Registrant Name | MOBILE GLOBAL ESPORTS INC. | |
Trading Symbol | MGAM | |
Document Type | 10-Q | |
Current Fiscal Year End Date | --12-31 | |
Entity Common Stock, Shares Outstanding | 18,534,800 | |
Amendment Flag | false | |
Entity Central Index Key | 0001886362 | |
Entity Current Reporting Status | No | |
Entity Filer Category | Non-accelerated Filer | |
Document Period End Date | Jun. 30, 2022 | |
Document Fiscal Year Focus | 2022 | |
Document Fiscal Period Focus | Q2 | |
Entity Small Business | true | |
Entity Emerging Growth Company | true | |
Entity Shell Company | false | |
Entity Ex Transition Period | true | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Entity File Number | 001-41458 | |
Entity Incorporation, State or Country Code | DE | |
Entity Tax Identification Number | 86-2684455 | |
Entity Address, Address Line One | 500 Post Road East | |
Entity Address, City or Town | Westport | |
Entity Address, State or Province | CT | |
Entity Address, Postal Zip Code | 06880 | |
City Area Code | (475) | |
Local Phone Number | 666-8401 | |
Title of 12(b) Security | Common stock, $0.001 par value per share | |
Security Exchange Name | NASDAQ | |
Entity Interactive Data Current | Yes |
Balance Sheet
Balance Sheet - USD ($) | Jun. 30, 2022 | Dec. 31, 2021 |
Current Assets: | ||
Cash and cash equivalents | $ 68,735 | $ 238,202 |
Deferred offering costs | 116,346 | 62,998 |
Total current assets | 185,081 | 301,200 |
TOTAL ASSETS | 185,081 | 301,200 |
Current Liabilities: | ||
Accounts payable (including $0 and $30,000 to related party) | 31,814 | |
Total current liabilities | 31,814 | |
Commitments and contingencies | ||
STOCKHOLDERS’ EQUITY | ||
Preferred stock; $0.0001par value; 10,000,000 shares authorized; nil shares issued and outstanding Common stock; $0.0001 par value; 100,000,000 shares authorized; 16,809,800 and 16,809,800 shares issued and outstanding | 1,681 | 1,681 |
Additional paid-in capital | 623,025 | 530,065 |
Accumulated deficit | (439,625) | (262,360) |
Total stockholders’ equity | 185,081 | 269,386 |
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $ 185,081 | $ 301,200 |
Balance Sheet (Parentheticals)
Balance Sheet (Parentheticals) - USD ($) | Jun. 30, 2022 | Dec. 31, 2021 |
Statement of Financial Position [Abstract] | ||
Accounts payable, including related party (in Dollars) | $ 0 | $ 30,000 |
Preferred stock; par value (in Dollars per share) | $ 0.0001 | $ 0.0001 |
Preferred stock; shares authorized | 10,000,000 | 10,000,000 |
Preferred stock; shares issued | ||
Preferred stock; shares outstanding | ||
Common stock, par value (in Dollars per share) | $ 0.0001 | $ 0.0001 |
Common stock, shares authorized | 100,000,000 | 100,000,000 |
Common stock, shares issued | 16,809,800 | 16,809,800 |
Common stock, shares outstanding | 16,809,800 | 16,809,800 |
Statements of Operations (Unaud
Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | 4 Months Ended | 6 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2021 | Jun. 30, 2022 | |
Income Statement [Abstract] | ||||
Revenue | ||||
Cost of revenue | ||||
Gross profit | ||||
Operating expenses: | ||||
Research and development expenses | 46,480 | 92,960 | ||
General and administrative expenses | 39,303 | 150 | 150 | 84,305 |
Total operating expenses | 85,783 | 150 | 150 | 177,265 |
Loss from operations | (85,783) | (150) | (150) | (177,265) |
Income tax expense | ||||
Net loss | $ (85,783) | $ (150) | $ (150) | $ (177,265) |
Net loss per share attributable to common stockholders, basic and diluted (in Dollars per share) | $ (0.01) | $ 0 | $ 0 | $ (0.01) |
Weighted average common shares outstanding, basic and diluted (in Shares) | 16,809,800 | 5,366,000 | 5,366,000 | 16,809,800 |
Statements of Operations (Una_2
Statements of Operations (Unaudited) (Parentheticals) - $ / shares | 3 Months Ended | 4 Months Ended | 6 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2021 | Jun. 30, 2022 | |
Income Statement [Abstract] | ||||
Net loss per share attributable to common stockholders, basic and diluted | $ (0.01) | $ 0 | $ 0 | $ (0.01) |
Weighted average common shares outstanding, basic and diluted | 16,809,800 | 5,366,000 | 1,437,321 | 16,809,800 |
Statements of Stockholders_ Equ
Statements of Stockholders’ Equity - USD ($) | Common Stock | Additional Paid-In Capital | Stock Subscription Receivable | Accumulated Deficit | Total |
Balance at Mar. 10, 2021 | |||||
Balance (in Shares) at Mar. 10, 2021 | |||||
Net loss | |||||
Balance at Mar. 31, 2021 | |||||
Balance (in Shares) at Mar. 31, 2021 | |||||
Balance at Mar. 10, 2021 | |||||
Balance (in Shares) at Mar. 10, 2021 | |||||
Net loss | (150) | ||||
Balance at Jun. 30, 2021 | $ 620 | 35,880 | (30,400) | (150) | 5,950 |
Balance (in Shares) at Jun. 30, 2021 | 6,195,000 | ||||
Balance at Mar. 31, 2021 | |||||
Balance (in Shares) at Mar. 31, 2021 | |||||
Net loss | (150) | (150) | |||
Balance at Jun. 30, 2021 | $ 620 | 35,880 | (30,400) | (150) | 5,950 |
Balance (in Shares) at Jun. 30, 2021 | 6,195,000 | ||||
Issuance of common stock | $ 620 | 35,880 | (30,400) | 6,100 | |
Issuance of common stock (in Shares) | 6,195,000 | ||||
Balance at Dec. 31, 2021 | $ 1,681 | 530,065 | (262,360) | 269,386 | |
Balance (in Shares) at Dec. 31, 2021 | 16,809,800 | ||||
Fair value of warrants issued for services | 46,480 | 46,480 | |||
Net loss | (91,482) | (91,482) | |||
Balance at Mar. 31, 2022 | $ 1,681 | 576,545 | (353,842) | 224,384 | |
Balance (in Shares) at Mar. 31, 2022 | 16,809,800 | ||||
Balance at Dec. 31, 2021 | $ 1,681 | 530,065 | (262,360) | 269,386 | |
Balance (in Shares) at Dec. 31, 2021 | 16,809,800 | ||||
Net loss | (177,265) | ||||
Balance at Jun. 30, 2022 | $ 1,681 | 623,025 | (439,625) | 185,081 | |
Balance (in Shares) at Jun. 30, 2022 | 16,809,800 | ||||
Balance at Mar. 31, 2022 | $ 1,681 | 576,545 | (353,842) | 224,384 | |
Balance (in Shares) at Mar. 31, 2022 | 16,809,800 | ||||
Fair value of warrants issued for services | 46,480 | 46,480 | |||
Net loss | (85,783) | (85,783) | |||
Balance at Jun. 30, 2022 | $ 1,681 | $ 623,025 | $ (439,625) | $ 185,081 | |
Balance (in Shares) at Jun. 30, 2022 | 16,809,800 |
Statements of Cash Flows (Unaud
Statements of Cash Flows (Unaudited) - USD ($) | 6 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
Statement of Cash Flows [Abstract] | ||
Net loss | $ (177,265) | $ (150) |
Adjustments to reconcile net loss to net cash provided (used) by operating activities: | ||
Fair value of warrants issued for services | 92,960 | |
Changes in operating assets and liabilities: | ||
Accounts payable | (31,814) | |
Net cash used by operating activities | (116,119) | (150) |
Cash flows from financing activities | ||
Advance payments for future issuance of common stock | 109,605 | |
Issuance of common stock | 6,100 | |
Payment of deferred offering costs | (53,348) | |
Net cash provided (used) by financing activities | (53,348) | 115,705 |
Net increase (decrease) in cash and cash equivalents | (169,467) | 115,555 |
Cash and cash equivalents as of beginning of period | 238,202 | |
Cash and cash equivalents as of end of period | 68,735 | 115,555 |
Supplemental disclosure of cash flow information | ||
Issuance of common stock through stock subscription receivable | $ 30,400 |
Organization and Basis of Prese
Organization and Basis of Presentation | 6 Months Ended |
Jun. 30, 2022 | |
Organization and Basis of Presentation [Abstract] | |
Organization and Basis of Presentation | Note 1 - Organization and Basis of Presentation Organization Mobile Global Esports Inc. (the “Company”) was incorporated on March 11, 2021 under the laws of the State of Delaware. The Company was originally named Elite Esports, Inc. but changed its name to Mobile Global Esports Inc. on April 21, 2021. The Company has been assigned certain limited rights to commercialize university esports events for 76 universities in India. The unique advantage of esports is that the events can be virtual, and virtual events bypass any Covid-19 restrictions on in-person events. Basis of Presentation The accompanying financial statements were prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”). Coronavirus (COVID-19) The Company’s business could be adversely impacted by the effects of the Coronavirus (COVID-19). In addition to global macroeconomic effects, the COVID-19 outbreak and any other related adverse public health developments could cause disruption to our operations. COVID-19 or other disease outbreaks could in the short-run and may over the longer term adversely affect the economies and financial markets of many countries, resulting in an economic downturn that could impact the Company’s operating results. Although the magnitude of the impact of the COVID-19 outbreak on the Company’s business and operations remains uncertain, the continued spread of COVID-19 or the occurrence of other epidemics and the imposition of related public health measures and travel and business restrictions could adversely impact the Company’s business, financial condition, operating results and cash flows. In addition, the Company could experience disruptions to its business operations resulting from quarantines, self-isolations, or other movement and restrictions on the ability of its employees to perform their jobs that may impact the Company’s ability to develop and grow its business. Interim financial statements The unaudited condensed financial statements are prepared by the Company, pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). The information furnished herein reflects all adjustments, consisting only of normal recurring adjustments, which in the opinion of management, are necessary to fairly state the Company’s financial position, the results of its operations, and cash flows for the periods presented. Certain information and footnote disclosures normally present in annual financial statements prepared in accordance with accounting principles generally accepted in the United States of America were omitted pursuant to such rules and regulations. The results of operations for the six months ended June 30, 2022 are not necessarily indicative of the results expected for the year ending December 31, 2022. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2022 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | Note 2 – Summary of Significant Accounting Policies Use of Estimates The preparation of financial statements in conformity with U.S. 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 amounts of revenues and expenses during the reporting period. The Company regularly evaluates estimates and assumptions. The Company bases its estimates and assumptions on current facts, historical experience and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual results experienced by the Company may differ materially and adversely from the Company’s estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected. Significant estimates in the accompanying financial statements include valuation allowance on deferred tax assets and the estimated value of warrants issued for services. Cash Equivalents For the purpose of the statement of cash flows, cash equivalents include time deposits, certificate of deposits, and all highly-liquid debt instruments with original maturities of three months or less. As of June 30, 2022 and December 31, 2021, the Company did not have any cash equivalents. Deferred Offering Costs Deferred offering costs are amounts incurred that are directly related to the offering of the Company’s common stock. These costs will be offset against the proceeds from the Company’s equity offering. See subsequent events below. Fair Value of Financial Instruments For certain of the Company’s financial instruments, including cash and accounts payable, the carrying amounts approximate their fair values due to their short maturities. ASC Topic 820, Fair Value Measurements and Disclosures Financial Instruments heir current market rate of interest. The three levels of valuation hierarchy are defined as follows: ● Level 1 inputs to the valuation methodology are quoted prices for identical assets or liabilities in active markets. ● Level 2 inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets in inactive markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. ● Level 3 inp The Company analyzes all financial instruments with features of both liabilities and equity under Accounting Standards Codificatoin (“ASC”) Topic 480, Distinguishing Liabilities from Equity Derivatives and Hedging As of June 30, 2022 and December 31, 2021, the Company did not identify any assets or liabilities required to be presented on the balance sheet at fair value. Concentration of credit risk Financial instruments, which potentially subject the Company to concentrations of credit risk, consist of cash and cash equivalents. The Company places its cash with high quality financial institutions and at times may exceed the Federal Deposit Insurance Corporation $250,000 insurance limit. The Company has not and does not anticipate incurring any losses related to this credit risk. Income Taxes The Company accounts for income taxes in accordance with ASC Topic 740, Income Taxes Under ASC 740, a tax position is recognized as a benefit only if it is “more likely than not” that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the “more likely than not” test, no tax benefit is recorded. The Company has no material uncertain tax positions for any of the reporting periods presented. Basic and Diluted Earnings Per Share Earnings per share is calculated in accordance with ASC Topic 260, Earnings Per Share Recent Accounting Pronouncements In December 2019, the Financial Accounting Standards Board (“FASB”) issued ASU 2019-12, Simplifying the Accounting for Income Taxes Income Taxes Subsequent Events During July 2022, the Company issued 1,725,000 shares of common stock for total gross proceeds of $6,900,000 through an initial public offering (“IPO”). The Company received net proceeds after commissions, fees and expenses of approximately $5,875,000, with $500,000 of these funds currently held in an escrow account for the benefit of the Company. As a result of the IPO, the deferred offering costs of approximately $116,000 were reclassified from deferred offering costs to a reduction of additional paid-in capital in July 2022. Management has evaluated events that occurred subsequent to the end of the reporting period and there are no other subsequent events to report. |
Stockholders_ Equity
Stockholders’ Equity | 6 Months Ended |
Jun. 30, 2022 | |
Stockholders' Equity Note [Abstract] | |
Stockholders’ Equity | Note 3- Stockholders’ Equity Preferred Stock The Company has authorized the issuance of 10,000,000 shares of $0.0001 par value preferred stock. At June 30, 2022 and December 31, 2021, there were nil Common Stock The Company has authorized the issuance of 100,000,000 shares of $0.0001 par value common stock. At June 30, 2022 and December 31, 2021, there were 16,809,800 shares issued and outstanding. During the period from March 11, 2021 (Inception) to June 30, 2021, the Company had the following transactions in its common stock: ● issued 4,995,000 shares to founders of the Company for $100 in cash and stock subscription receivables totaling $400. ● issued 1,200,000 shares to investors at a price per share of $0.03 for cash proceeds of $6,000 and subscription receivables totaling $30,000. There were no transactions in the Company’s common stock during the six months ended June 30, 2022. Warrants The following is a summary of warrant activity: Weighted Weighted Average Average Remaining Aggregate Warrants Exercise Contractual Intrinsic Outstanding Price Life Value Outstanding, December 31, 2021 1,000,000 1.00 4.79 $ - Granted - 1.00 Forfeited - Exercised - Outstanding, June 30, 2022 1,000,000 1.00 4.29 $ - Exercisable, June 30, 2022 375,000 $ 1.00 4.29 $ - The exercise price for warrants outstanding at June 30, 2022: Outstanding Exercisable Number of Exercise Number of Exercise Warrants Price Warrants Price 1,000,000 $ 1.00 375,000 $ 1.00 1,000,000 375,000 On October 21, 2021, the Company issued an aggregate of 1,000,000 warrants to three individuals (“Consultants”) that will advising the Company on developing, establishing, operating, commercializing, marketing, promoting, and expanding the Company’s esports business with an aim to commercialize esports tournaments, esports sponsorships, esports advertising revenues, esports merchandise revenues, esports broadcast revenues, esports video revenues, esports game development and marketing and distribution revenues, and all other manner of esports revenue streams for the benefit of the Company. The warrants have an exercise price of $1.00 share and expire in five years. 250,000 of these warrants vested immediately and the balance of 750,000 warrants have provisions making the vesting contingent on the Consultants’ performance in meeting goals and milestones set quarterly by the Company. Specifically, the Company will consult with the Consultants and reach agreement on the Consultants’ goals and milestones at the beginning of each calendar quarter. Out of the 750,000 unvested warrants, 62,500 warrants will vest at the end of each quarter, beginning with the quarter ending March 31, 2022, provided in the Company’s judgement the Consultants have made satisfactory progress over the course of the quarter in meeting set goals and milestones. Warrants not vested on their designated end of quarter vesting date expire. The fair value of the warrants is being amortized to expense over the vesting period. The Company recorded an expense of approximately $93,000 and $46,000 during the six months and three months ended June 30, 2022. At June 30, 2022, the unamortized warrant expense was approximately $465,000, which will be amortized into expense through December 2024. |
Commitments and Contingencies
Commitments and Contingencies | 6 Months Ended |
Jun. 30, 2022 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Note 4 – Commitments and Contingencies From time to time, the Company may be involved in various litigation matters, which arise in the ordinary course of business. There is currently no litigation that management believes will have a material impact on the financial position of the Company. |
Related Party Transactions
Related Party Transactions | 6 Months Ended |
Jun. 30, 2022 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | Note 5 – Related Party Transactions Included in accounts payable at June 30, 2022 and December 31, 2021 is $0 and $30,000, respectively, due to Sports Industry of India, Inc., a stockholder of the Company. |
Accounting Policies, by Policy
Accounting Policies, by Policy (Policies) | 6 Months Ended |
Jun. 30, 2022 | |
Accounting Policies [Abstract] | |
Use of Estimates | Use of Estimates The preparation of financial statements in conformity with U.S. 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 amounts of revenues and expenses during the reporting period. The Company regularly evaluates estimates and assumptions. The Company bases its estimates and assumptions on current facts, historical experience and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual results experienced by the Company may differ materially and adversely from the Company’s estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected. Significant estimates in the accompanying financial statements include valuation allowance on deferred tax assets and the estimated value of warrants issued for services. |
Cash Equivalents | Cash Equivalents For the purpose of the statement of cash flows, cash equivalents include time deposits, certificate of deposits, and all highly-liquid debt instruments with original maturities of three months or less. As of June 30, 2022 and December 31, 2021, the Company did not have any cash equivalents. |
Deferred Offering Costs | Deferred Offering Costs |
Fair Value of Financial Instruments | Fair Value of Financial Instruments For certain of the Company’s financial instruments, including cash and accounts payable, the carrying amounts approximate their fair values due to their short maturities. ASC Topic 820, Fair Value Measurements and Disclosures Financial Instruments heir current market rate of interest. The three levels of valuation hierarchy are defined as follows: ● Level 1 inputs to the valuation methodology are quoted prices for identical assets or liabilities in active markets. ● Level 2 inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets in inactive markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. ● Level 3 inp The Company analyzes all financial instruments with features of both liabilities and equity under Accounting Standards Codificatoin (“ASC”) Topic 480, Distinguishing Liabilities from Equity Derivatives and Hedging As of June 30, 2022 and December 31, 2021, the Company did not identify any assets or liabilities required to be presented on the balance sheet at fair value. |
Concentration of credit risk | Concentration of credit risk Financial instruments, which potentially subject the Company to concentrations of credit risk, consist of cash and cash equivalents. The Company places its cash with high quality financial institutions and at times may exceed the Federal Deposit Insurance Corporation $250,000 insurance limit. The Company has not and does not anticipate incurring any losses related to this credit risk. |
Income Taxes | Income Taxes The Company accounts for income taxes in accordance with ASC Topic 740, Income Taxes Under ASC 740, a tax position is recognized as a benefit only if it is “more likely than not” that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the “more likely than not” test, no tax benefit is recorded. The Company has no material uncertain tax positions for any of the reporting periods presented. |
Basic and Diluted Earnings Per Share | Basic and Diluted Earnings Per Share Earnings per share is calculated in accordance with ASC Topic 260, Earnings Per Share |
Recent Accounting Pronouncements | Recent Accounting Pronouncements In December 2019, the Financial Accounting Standards Board (“FASB”) issued ASU 2019-12, Simplifying the Accounting for Income Taxes Income Taxes |
Subsequent Events | Subsequent Events During July 2022, the Company issued 1,725,000 shares of common stock for total gross proceeds of $6,900,000 through an initial public offering (“IPO”). The Company received net proceeds after commissions, fees and expenses of approximately $5,875,000, with $500,000 of these funds currently held in an escrow account for the benefit of the Company. As a result of the IPO, the deferred offering costs of approximately $116,000 were reclassified from deferred offering costs to a reduction of additional paid-in capital in July 2022. Management has evaluated events that occurred subsequent to the end of the reporting period and there are no other subsequent events to report. |
Stockholders_ Equity (Tables)
Stockholders’ Equity (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Stockholders' Equity Note [Abstract] | |
Schedule of warrant activity | Weighted Weighted Average Average Remaining Aggregate Warrants Exercise Contractual Intrinsic Outstanding Price Life Value Outstanding, December 31, 2021 1,000,000 1.00 4.79 $ - Granted - 1.00 Forfeited - Exercised - Outstanding, June 30, 2022 1,000,000 1.00 4.29 $ - Exercisable, June 30, 2022 375,000 $ 1.00 4.29 $ - |
Schedule of exercise price for warrants outstanding | Outstanding Exercisable Number of Exercise Number of Exercise Warrants Price Warrants Price 1,000,000 $ 1.00 375,000 $ 1.00 1,000,000 375,000 |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Details) - USD ($) | 1 Months Ended | 6 Months Ended | |
Jul. 30, 2022 | Jun. 30, 2022 | Dec. 31, 2021 | |
Summary of Significant Accounting Policies (Details) [Line Items] | |||
Federal Deposit Insurance Corporation | $ 250,000 | ||
Tax benefit percentage | 50% | ||
Warrants outstanding (in Shares) | 1,000,000 | 1,000,000 | |
Deferred offering costs | $ 116,346 | $ 62,998 | |
Subsequent Event [Member] | |||
Summary of Significant Accounting Policies (Details) [Line Items] | |||
Common stock shares (in Shares) | 1,725,000 | ||
Gross proceeds | $ 6,900,000 | ||
Commissions | 5,875,000 | ||
Fees | 5,875,000 | ||
Expenses | 5,875,000 | ||
Funds currently | 500,000 | ||
Deferred offering costs | $ 116,000 |
Stockholders_ Equity (Details)
Stockholders’ Equity (Details) - USD ($) | 3 Months Ended | 4 Months Ended | 6 Months Ended | ||
Oct. 21, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Dec. 31, 2021 | |
Stockholders’ Equity (Details) [Line Items] | |||||
Preferred stock, share authorized | 10,000,000 | 10,000,000 | 10,000,000 | ||
Preferred stock, par value (in Dollars per share) | $ 0.0001 | $ 0.0001 | $ 0.0001 | ||
Preferred stock, shares outstanding | |||||
Preferred stock, shares issued | |||||
Common stock, shares authorized | 100,000,000 | 100,000,000 | 100,000,000 | ||
Common stock, par value (in Dollars per share) | $ 0.0001 | $ 0.0001 | $ 0.0001 | ||
Common stock, shares outstanding | 16,809,800 | 16,809,800 | 16,809,800 | ||
Common stock, shares issued | 16,809,800 | 16,809,800 | 16,809,800 | ||
Subscription receivable (in Dollars) | $ 400 | ||||
Price per share (in Dollars per share) | $ 0.03 | ||||
Cash proceed (in Dollars) | $ 6,000 | ||||
Aggregate of warrants | 1,000,000 | ||||
Description of warrants | The warrants have an exercise price of $1.00 share and expire in five years. 250,000 of these warrants vested immediately and the balance of 750,000 warrants have provisions making the vesting contingent on the Consultants’ performance in meeting goals and milestones set quarterly by the Company. Specifically, the Company will consult with the Consultants and reach agreement on the Consultants’ goals and milestones at the beginning of each calendar quarter. Out of the 750,000 unvested warrants, 62,500 warrants will vest at the end of each quarter, beginning with the quarter ending March 31, 2022, provided in the Company’s judgement the Consultants have made satisfactory progress over the course of the quarter in meeting set goals and milestones. Warrants not vested on their designated end of quarter vesting date expire. | ||||
Expense amount (in Dollars) | $ 46,000 | $ 93,000 | |||
Warrant [Member] | |||||
Stockholders’ Equity (Details) [Line Items] | |||||
Expense amount (in Dollars) | $ 465,000 | ||||
Founder [Member] | |||||
Stockholders’ Equity (Details) [Line Items] | |||||
Issuance of shares | 4,995,000 | ||||
Cash (in Dollars) | $ 100 | ||||
Investor [Member] | |||||
Stockholders’ Equity (Details) [Line Items] | |||||
Issuance of shares | 1,200,000 | ||||
Subscription receivable (in Dollars) | $ 30,000 |
Stockholders_ Equity (Details)
Stockholders’ Equity (Details) - Schedule of warrant activity | 6 Months Ended |
Jun. 30, 2022 USD ($) $ / shares shares | |
Schedule Of Warrant Activity Abstract | |
Warrants Outstanding, Beginning Balance | 1,000,000 |
Weighted Average Exercise Price,Beginning Balance (in Dollars per share) | $ / shares | $ 1 |
Weighted Average Remaining Contractual Life, Beginning Balance | 4 years 9 months 14 days |
Aggregate Intrinsic Value, Beginning Balance (in Dollars) | $ | |
Warrants Outstanding, Granted | |
Weighted Average Exercise Price, Granted (in Dollars per share) | $ / shares | $ 1 |
Warrants Outstanding, Forfeited | |
Warrants Outstanding, Exercised | |
Warrants Outstanding, Ending Balance | 1,000,000 |
Weighted Average Exercise Price, Ending Balance (in Dollars per share) | $ / shares | $ 1 |
Weighted Average Remaining Contractual Life, Ending Balance | 4 years 3 months 14 days |
Aggregate Intrinsic Value, Ending Balance (in Dollars) | $ | |
Warrants Outstanding, Exercisable | 375,000 |
Weighted Average Exercise Price, Exercisable (in Dollars per share) | $ / shares | $ 1 |
Weighted Average Remaining Contractual Life, Exercisable | 4 years 3 months 14 days |
Aggregate Intrinsic Value, Exercisable (in Dollars) | $ |
Stockholders_ Equity (Details_2
Stockholders’ Equity (Details) - Schedule of exercise price for warrants outstanding | 6 Months Ended |
Jun. 30, 2022 $ / shares shares | |
Schedule Of Exercise Price For Warrants Outstanding Abstract | |
Number of Warrants, Outstanding | 1,000,000 |
Exercise Price, Outstanding (in Dollars per share) | $ / shares | $ 1 |
Number of Warrants, Exercisable | 375,000 |
Exercise Price, Exercisable (in Dollars per share) | $ / shares | $ 1 |
Total Outstanding | 1,000,000 |
Total Exercisable | 375,000 |
Related Party Transactions (Det
Related Party Transactions (Details) - USD ($) | Jun. 30, 2022 | Dec. 31, 2021 |
Related Party Transactions [Abstract] | ||
Accounts payable | $ 0 | $ 30,000 |