Cover
Cover | 9 Months Ended |
Sep. 30, 2021 | |
Cover [Abstract] | |
Document Type | S-1 |
Amendment Flag | false |
Entity Registrant Name | Global Tech Industries Group, Inc. |
Entity Central Index Key | 0000356590 |
Entity Tax Identification Number | 83-0250943 |
Entity Incorporation, State or Country Code | NV |
Entity Address, Address Line One | 511 Sixth Avenue |
Entity Address, Address Line Two | Suite 800 |
Entity Address, City or Town | New York |
Entity Address, State or Province | NY |
Entity Address, Postal Zip Code | 10011 |
City Area Code | (212) |
Local Phone Number | 204-7926 |
Entity Filer Category | Non-accelerated Filer |
Entity Small Business | true |
Entity Emerging Growth Company | false |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Sep. 30, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
CURRENT ASSETS | |||
Cash and cash equivalents | $ 295,083 | $ 2,479 | $ 1,435 |
Prepaid expenses | 222,167 | ||
Marketable securities | 195,000 | 31,000 | 44,044 |
Total Current Assets | 490,083 | 255,646 | 45,479 |
PROPERTY & EQUIPMENT (NET) | 2,143 | 2,946 | |
OTHER ASSETS | |||
License, net | 3,958 | ||
Fine art | 67,845 | ||
Total Other Assets | 71,803 | ||
TOTAL ASSETS | 564,029 | 258,592 | 45,479 |
CURRENT LIABILITIES | |||
Accounts payable and accrued expenses | 688,733 | 610,715 | 722,372 |
Accounts payable and accrued expenses-related parties | 521,274 | 8,953 | 8,955 |
Accrued interest payable | 376,007 | 357,708 | 310,307 |
Accrued interest payable-officers and directors | 298,796 | ||
Notes payable in default | 871,082 | 871,082 | 871,082 |
Due to related parties | 83,883 | 109,513 | |
Convertible debenture | 74,800 | ||
Notes payable | 200,000 | ||
Stock deposits | 490,000 | ||
Total Current Liabilities | 3,230,979 | 2,032,771 | 2,211,512 |
LONG-TERM LIABILITIES | |||
Notes payable related party | 3,540,405 | ||
Total Long-Term Liabilities | 3,540,405 | ||
Total Liabilities | 3,230,979 | 2,032,771 | 5,751,917 |
STOCKHOLDERS’ EQUITY (DEFICIT) | |||
Preferred stock, par value $.001, 50,000 authorized, 1,000 issued and outstanding | 1 | 1 | 1 |
Common stock, par value $0.001 per share, 550,000,000 shares authorized; 246,722,140 (including 10,150,000 shares held in escrow) and 230,498,005 issued and 236,572,140 and 230,498,005 outstanding, respectively | 246,722 | 230,498 | 205,278 |
Additional paid-in-capital | 229,725,779 | 168,398,511 | 161,712,986 |
Accumulated (Deficit) | (232,639,452) | (170,403,189) | (167,624,703) |
Total Stockholders’ Equity (Deficit) | (2,666,950) | (1,774,179) | (5,706,438) |
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT) | $ 564,029 | $ 258,592 | $ 45,479 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - $ / shares | Sep. 30, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Statement of Financial Position [Abstract] | |||
Preferred stock, par value | $ 0.001 | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized | 50,000 | 50,000 | 50,000 |
Preferred stock, shares issued | 1,000 | 1,000 | 1,000 |
Preferred stock, shares outstanding | 1,000 | 1,000 | 1,000 |
Common Stock, Par or Stated Value Per Share | $ 0.001 | $ 0.001 | $ 0.001 |
Common Stock, Shares Authorized | 550,000,000 | 550,000,000 | 550,000,000 |
Common Stock, Shares, Issued | 246,722,140 | 230,498,005 | 205,277,990 |
Common Stock, Shares, Outstanding | 236,572,140 | 230,498,005 | 205,277,990 |
Shares held in escrow | 10,150,000 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | |
Income Statement [Abstract] | ||||||
REVENUES | $ 8,500 | $ 8,500 | $ 8,500 | |||
OPERATING EXPENSES | ||||||
General and administrative | 157,140 | 24,296 | 258,526 | 105,964 | 65,856 | 992,865 |
Compensation and professional fees | 1,868,288 | 255,750 | 3,860,868 | 680,990 | 2,507,236 | 868,899 |
Charitable donations | 540,113 | 540,113 | ||||
Depreciation | 1,310 | 1,845 | 267 | |||
Total Operating Expenses | 2,566,851 | 280,046 | 4,661,352 | 786,954 | 2,573,359 | 1,861,764 |
OPERATING LOSS | (2,566,851) | (271,546) | (4,661,352) | (778,454) | (2,564,859) | (1,861,764) |
OTHER INCOME (EXPENSES) | ||||||
Gain/(loss) on marketable securities | (185,000) | 14,966 | 164,000 | (901) | (12,901) | 67,342 |
Gain on settlements and debt relief | 472,421 | |||||
Interest expense | (16,762) | (60,724) | (49,111) | (175,433) | (200,726) | (106,834) |
Total Other Income (Expenses) | (201,762) | (45,758) | 114,889 | (176,334) | (213,627) | 432,929 |
LOSS BEFORE INCOME TAXES | (2,768,613) | (317,304) | (4,546,463) | (954,788) | (2,778,486) | (1,428,835) |
INCOME TAX EXPENSE | ||||||
NET LOSS | $ (2,768,613) | $ (317,304) | $ (4,546,463) | $ (954,788) | (2,778,486) | (1,428,835) |
OTHER COMPREHENSIVE INCOME | ||||||
COMPREHENSIVE LOSS | $ (2,778,486) | $ (1,428,835) | ||||
BASIC AND DILUTED LOSS PER SHARE | $ (0.01) | $ 0 | $ (0.02) | $ 0 | $ (0.01) | $ (0.01) |
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING, BASIC AND DILUTED | 235,247,771 | 205,377,721 | 234,303,915 | 205,732,175 | 207,923,257 | 178,502,990 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity (Deficit) - USD ($) | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Beginning balance, value at Dec. 31, 2018 | $ 1 | $ 170,778 | $ 160,739,496 | $ (166,195,868) | $ (5,285,593) |
Balance, shares at Dec. 31, 2018 | 1,000 | 170,777,990 | |||
Shares issued for services and prepaid shares earned (Note 9) | $ 33,500 | 936,050 | 969,550 | ||
Shares issued for services and prepaid shares earned,shares | 33,500,000 | ||||
Common stock issued for conversion of notes payable - related party, shares | |||||
Shares issued for medical advisory services | |||||
Imputed interest – loan | 13,440 | 13,440 | |||
Stock issued PPM | $ 1,000 | 24,000 | 25,000 | ||
Stock issued PPM, shares | 1,000,000 | ||||
Net income (loss) | (1,428,835) | (1,428,835) | |||
Ending balance, value at Dec. 31, 2019 | $ 1 | $ 205,278 | 161,712,986 | (167,624,703) | (5,706,438) |
Balance, shares at Dec. 31, 2019 | 1,000 | 205,277,990 | |||
Imputed interest – loan | 3,360 | 3,360 | |||
Net income (loss) | (284,846) | (284,846) | |||
Ending balance, value at Mar. 31, 2020 | $ 1 | $ 205,278 | 161,716,346 | (167,909,549) | (5,987,924) |
Balance, shares at Mar. 31, 2020 | 1,000 | 205,277,990 | |||
Beginning balance, value at Dec. 31, 2019 | $ 1 | $ 205,278 | 161,712,986 | (167,624,703) | (5,706,438) |
Balance, shares at Dec. 31, 2019 | 1,000 | 205,277,990 | |||
Net income (loss) | (954,788) | ||||
Ending balance, value at Sep. 30, 2020 | $ 1 | $ 207,150 | 161,879,245 | (168,579,491) | (6,493,095) |
Balance, shares at Sep. 30, 2020 | 1,000 | 207,149,460 | |||
Beginning balance, value at Dec. 31, 2019 | $ 1 | $ 205,278 | 161,712,986 | (167,624,703) | (5,706,438) |
Balance, shares at Dec. 31, 2019 | 1,000 | 205,277,990 | |||
Shares issued for services and prepaid shares earned (Note 9) | $ 25,225 | 2,008,374 | 2,033,599 | ||
Shares issued for services and prepaid shares earned,shares | 25,224,840 | ||||
Common stock issued for conversion of notes payable -related party | $ 3,540 | 384,134 | 387,674 | ||
Common stock issued for conversion of notes payable - related party, shares | 3,540,405 | ||||
Stock options issued for conversion of notes payable-related party | 339,952 | 339,952 | |||
Common stock issued for conversion of accrued interest-related party | $ 434 | 47,128 | 47,562 | ||
Common stock issued for conversion of accrued interest-related party, shares | 434,345 | ||||
Stock options issued for conversion of accrued wages-related party | 65,295 | 65,295 | |||
Common stock issued for conversion of accounts payable-related party | $ 9 | 972 | 981 | ||
Common stock issued for conversion of accounts payable-related party, shares | 8,955 | ||||
Common stock issued for accrued wages-related party | $ 680 | 73,780 | 74,460 | ||
Common stock issued for accrued wages-related party, shares | 680,000 | ||||
Stock options issued for conversion of accrued interest-related party | 41,706 | 41,706 | |||
Stock options issued for conversion of accounts payable-related party | 860 | 860 | |||
Gain on forgiveness of debt-related party | 3,705,216 | 3,705,216 | |||
Imputed interest – loan | 13,440 | 13,440 | |||
Net income (loss) | (2,778,486) | (2,778,486) | |||
Shares cancelled from ARUR acquisition recission | $ (4,668) | 4,668 | |||
Shares cancelled from ARUR acquisition recission,shares | (4,668,530) | ||||
Ending balance, value at Dec. 31, 2020 | $ 1 | $ 230,498 | 168,398,511 | (170,403,189) | (1,774,179) |
Balance, shares at Dec. 31, 2020 | 1,000 | 230,498,005 | |||
Beginning balance, value at Mar. 31, 2020 | $ 1 | $ 205,278 | 161,716,346 | (167,909,549) | (5,987,924) |
Balance, shares at Mar. 31, 2020 | 1,000 | 205,277,990 | |||
Shares issued for services and prepaid shares earned (Note 9) | $ 4,540 | 87,761 | 92,301 | ||
Shares issued for services and prepaid shares earned,shares | 4,540,000 | ||||
Imputed interest – loan | 3,360 | 3,360 | |||
Net income (loss) | (352,638) | (352,638) | |||
Shares cancelled from ARUR acquisition recission | $ (4,668) | 4,668 | |||
Shares cancelled from ARUR acquisition recission,shares | (4,668,530) | ||||
Ending balance, value at Jun. 30, 2020 | $ 1 | $ 205,150 | 161,812,135 | (168,262,187) | (6,244,901) |
Balance, shares at Jun. 30, 2020 | 1,000 | 205,149,460 | |||
Shares issued for services and prepaid shares earned (Note 9) | $ 2,000 | 63,750 | 65,750 | ||
Shares issued for services and prepaid shares earned,shares | 2,000,000 | ||||
Imputed interest – loan | 3,360 | 3,360 | |||
Net income (loss) | (317,304) | (317,304) | |||
Ending balance, value at Sep. 30, 2020 | $ 1 | $ 207,150 | 161,879,245 | (168,579,491) | (6,493,095) |
Balance, shares at Sep. 30, 2020 | 1,000 | 207,149,460 | |||
Beginning balance, value at Dec. 31, 2020 | $ 1 | $ 230,498 | 168,398,511 | (170,403,189) | (1,774,179) |
Balance, shares at Dec. 31, 2020 | 1,000 | 230,498,005 | |||
Shares issued for services and prepaid shares earned (Note 9) | $ 4,500 | 466,500 | 471,000 | ||
Shares issued for services and prepaid shares earned,shares | 4,500,000 | ||||
Shares issued and held in escrow for the potential acquisition of Gold Transactions Intl, Inc. | $ 6,000 | (6,000) | 0 | ||
Shares issued and held in escrow for the potential acquisition of Gold Transactions Intl, Inc,shares | 6,000,000 | ||||
Imputed interest – loan | 3,360 | 3,360 | |||
Net income (loss) | (675,742) | (675,742) | |||
Ending balance, value at Mar. 31, 2021 | $ 1 | $ 240,998 | 168,862,371 | (171,078,931) | (1,975,561) |
Balance, shares at Mar. 31, 2021 | 1,000 | 240,998,005 | |||
Beginning balance, value at Dec. 31, 2020 | $ 1 | $ 230,498 | 168,398,511 | (170,403,189) | (1,774,179) |
Balance, shares at Dec. 31, 2020 | 1,000 | 230,498,005 | |||
Net income (loss) | (4,546,463) | ||||
Ending balance, value at Sep. 30, 2021 | $ 1 | $ 246,722 | 229,725,779 | (232,639,452) | (2,666,950) |
Balance, shares at Sep. 30, 2021 | 1,000 | 246,722,140 | |||
Beginning balance, value at Mar. 31, 2021 | $ 1 | $ 240,998 | 168,862,371 | (171,078,931) | (1,975,561) |
Balance, shares at Mar. 31, 2021 | 1,000 | 240,998,005 | |||
Shares issued for services and prepaid shares earned (Note 9) | $ 167 | 866,557 | 866,724 | ||
Shares issued for services and prepaid shares earned,shares | 166,995 | ||||
Warrants issued to shareholders of record on April 1, 2021 as dividend | 57,689,800 | (57,689,800) | |||
Shares issued and held in escrow for the potential acquisition of Bronx Family Eye and My Retina | $ 4,150 | (4,150) | |||
Shares issued and held in escrow for the potential acquisition of Bronx Family Eye and My Retina,shares | 4,150,000 | ||||
Imputed interest – loan | 3,360 | 3,360 | |||
Net income (loss) | (1,102,108) | (1,102,108) | |||
Ending balance, value at Jun. 30, 2021 | $ 1 | $ 245,315 | 227,417,938 | (229,870,839) | (2,207,585) |
Balance, shares at Jun. 30, 2021 | 1,000 | 245,315,000 | |||
Shares issued for services and prepaid shares earned (Note 9) | $ 707 | 1,360,181 | 1,360,888 | ||
Shares issued for services and prepaid shares earned,shares | 707,140 | ||||
Shares issued for charitable service donations | $ 400 | 539,600 | 540,000 | ||
Shares issued for charitable service donations, shares | 400,000 | ||||
Shares issued for medical advisory services | $ 300 | 404,700 | 405,000 | ||
Shares issued for medical advisory services, shares | 300,000 | ||||
Imputed interest – loan | 3,360 | 3,360 | |||
Net income (loss) | (2,768,613) | (2,768,613) | |||
Ending balance, value at Sep. 30, 2021 | $ 1 | $ 246,722 | $ 229,725,779 | $ (232,639,452) | $ (2,666,950) |
Balance, shares at Sep. 30, 2021 | 1,000 | 246,722,140 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||||
Net loss | $ (4,546,463) | $ (954,788) | $ (2,778,486) | $ (1,428,835) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||||
Depreciation and amortization | 1,845 | 267 | ||
Stock issued for services | 3,643,612 | 158,050 | 2,033,599 | 969,550 |
Imputed interest on loan | 10,080 | 10,080 | 13,440 | 13,440 |
(Gain) loss on marketable securities | (164,000) | 901 | 12,901 | (67,342) |
Gain on settlements and debt relief | (472,421) | |||
Change in operating assets and liabilities | ||||
Decrease is prepaid expenses | 222,167 | (222,167) | ||
Increase in accounts payable and accrued expenses | 78,018 | 518,600 | 577,299 | 225,037 |
Increase in accounts payable and accrued expenses-related parties | 512,321 | 3 | ||
Increase (decrease) in interest payable | 18,299 | 26,517 | ||
Increase in interest payable-related parties | 135,548 | |||
Increase (decrease) in accounts payable and accrued expenses – officers and directors | (2) | 495,130 | ||
Increase in accrued interest payable | 54,201 | 35,354 | ||
Increase in accrued interest payable – officers and directors | 135,549 | 6,490 | ||
Net Cash Used in Operating Activities | (224,121) | (105,089) | (173,399) | (223,597) |
CASH FLOWS FROM INVESTING ACTIVITIES | ||||
Cash paid for property and equipment | (3,213) | |||
Cash paid for other assets | (67,845) | |||
Cash paid for fixed assets | (5,000) | |||
Sale of marketable securities | 143 | 143 | 206,236 | |
Net Cash Provided by (Used in) Investing Activities | (72,845) | 143 | (3,070) | 206,236 |
CASH FLOWS FROM FINANCING ACTIVITIES | ||||
Cash received from debt financing | 200,000 | |||
Cash from stock deposits | 490,000 | |||
Cash paid on convertible debenture | (74,800) | |||
Proceeds from issuance of common stock | 25,000 | |||
Proceeds from convertible debenture | 68,000 | |||
Payments on notes payable | (59,624) | |||
Cash paid on related party loans | (186,069) | (68,000) | (62,591) | |
Cash received from related party loans | 160,439 | 104,981 | 177,513 | 108,192 |
Net Cash Provided by Financing Activities | 589,570 | 104,981 | 177,513 | 10,977 |
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | 292,604 | 35 | 1,044 | (6,384) |
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD | 2,479 | 1,435 | 1,435 | 7,819 |
CASH AND CASH EQUIVALENTS, END OF PERIOD | 295,083 | 1,470 | 2,479 | 1,435 |
SUPPLEMENTAL DISCLOSURES: | ||||
Cash paid for interest | ||||
Cash paid for income taxes | ||||
NON-CASH INVESTING AND FINANCING ACTIVITIES: | ||||
Reclassification of accruals to notes payable, related party | 1,080,224 | |||
Conversion of accruals and notes payable-related party to stock | 510,677 | |||
Conversion of accrual and notes payable-related party to options | 447,813 | |||
Gain on forgiveness of debt - related party | $ 3,705,216 | |||
Stock issued and held in escrow for potential acquisitions | 10,150 | |||
Reclassification of notes payable to stock deposits | $ 150,000 |
NATURE OF OPERATIONS
NATURE OF OPERATIONS | 12 Months Ended |
Dec. 31, 2020 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
NATURE OF OPERATIONS | NOTE 1 – NATURE OF OPERATIONS A) ORGANIZATIONAL HISTORY We were incorporated in 1980 under the laws of the State of Nevada under the name of Western Exploration, Inc. Western Exploration, Inc., a Nevada corporation, was formed on July 24, 1980. In 1990, Western Exploration, Inc. changed its name to Nugget Exploration, Inc. On November 10, 1999, a wholly-owned subsidiary of Nugget Exploration, Inc., Nugget Holdings Corporation, merged with and into GoHealthMD, Inc., a Delaware corporation. Shortly thereafter, Nugget Exploration, Inc. changed its name to GoHealthMD, Inc. a Nevada corporation. On August 18, 2004, GoHealthMD, Inc., the Nevada Corporation, changed its name to Tree Top Industries, Inc. On July 7, 2016, Tree Top Industries, Inc. changed its name to Global Tech Industries Group, Inc. TTI Strategic Acquisitions and Equity Group, Inc. and TTII Oil & Gas, Inc, all were formed by Global Tech in the anticipation of technologies, products or services being acquired. G T International, Inc. is a wholly owned subsidiary of Global Tech Industries Group, Inc., existing as a Wyoming corporation. TTI Strategic Acquisitions is the only subsidiary with current financial activity. B) GOING CONCERN The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern. The Company incurred a net loss of $ 2,778,486 170,403,189 1,777,125 2,166,033 173,399 223,597 During 2013, the Company generated significant revenues and left the exploration stage, however, the Company did not generate significant revenues during the years ended December 31, 2020, or 2019, and its cash flows are not sufficient to support all expenses of the Company. The Company as yet still requires substantial financing. Most of the financing has been provided by David Reichman, the Chief Executive Officer and Chairman. The Company is dependent upon his ability and willingness to continue to provide the financing necessary to meet reporting and filing requirements of a public company. For the Company to remain a going concern, it will need to continue to receive funds from equity or debt financing and secure operating revenues. There can be no assurance that the Company will continue to receive any proceeds from equity offerings or that the Company will be able to obtain the necessary funds to finance its operations. These conditions raise substantial doubt about its ability to continue as a going concern. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. On March 11, 2020, the World Health Organization declared the outbreak of a coronavirus (COVID-19) a pandemic. As a result, economic uncertainties have arisen which have the potential to negatively impact the Company’s ability to raise funding from the markets. Other financial impact could occur though such potential impact is unknown at this time. |
SIGNIFICANT ACCOUNTING POLICIES
SIGNIFICANT ACCOUNTING POLICIES | 9 Months Ended | 12 Months Ended |
Sep. 30, 2021 | Dec. 31, 2020 | |
Accounting Policies [Abstract] | ||
SIGNIFICANT ACCOUNTING POLICIES | NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES A) PRINCIPLES OF CONSOLIDATION The accompanying consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries, Ludicrous, Inc., TTI Strategic Acquisitions and Equity Group, Inc, TTII Oil & Gas, Inc., and GT International, Inc. All subsidiaries of the Company, other than TTI Strategic Acquisitions and Equity Group, Inc., currently have no financial activity. All significant inter-company balances and transactions have been eliminated. Because the performance obligations associated with the acquisitions of GTI, Bronx and My Retina have not yet been met, these subsidiaries are still contingent and have not been consolidated with the Company. B) USE OF MANAGEMENT’S ESTIMATES The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reported period. Actual results could differ from those estimates. C) CASH EQUIVALENTS The Company considers all highly liquid investments with an original maturity of three months or less to be cash equivalents. Cash and cash equivalents are maintained with major financial institutions in the U S. Deposits held with these banks at times exceed $ 250,000 of insurance provided on such deposits. The Company has not experienced any losses in such accounts and believes that it is not exposed to any significant credit risk on cash and cash equivalents. At September 30, 2021 and December 31, 2020, $ 45,083 and $ 0 excess cash balances existed, respectively. There were no cash equivalents at September 30, 2021 and December 31, 2020. D) INCOME TAXES The Company applies ASC 740 which requires the asset and liability method of accounting for income taxes. The asset and liability method require that the current or deferred tax consequences of all events recognized in the financial statements are measured by applying the provisions of enacted tax laws to determine the amount of taxes payable or refundable currently or in future years. Deferred tax assets are reviewed for recoverability and the Company records a valuation allowance to reduce its deferred tax assets when it is more likely than not that all or some portion of the deferred tax assets will not be recovered. ASC 740 requires recognition and measurement of uncertain tax positions using a “more-likely-than-not” approach, requiring the recognition and measurement of uncertain tax positions. Deferred taxes are provided on a liability method whereby deferred tax assets are recognized for deductible temporary differences and operating loss and tax credit carry forwards and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the reported amounts of assets and liabilities and their tax bases. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all the deferred tax assets will to be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment. E) REVENUE RECOGNITION The Company had no revenues during the nine months ended September 30, 2021 and $8,500 of non-recurring revenue in 2020, however when revenues commence, the Company will recognize revenues in accordance with ASC 606, “Revenue from Contracts with Customers.” Revenue is recognized per our contract with our customers at a point of time when control of our products or services are transferred to our customers in an amount that reflects the consideration the Company expects to be entitled to in exchange for those products, and after all our performance obligations have been met. The Company currently has no consulting revenues with performance obligations of hours expended on various projects with our customers pursuant to underlying contracts. If we subsequently determine that collection from any customer is not reasonably assured, we record an allowance for doubtful accounts and bad debt expense for all that customer’s unpaid invoices and cease recognizing revenue for continued services provided until cash is received. GLOBAL TECH INDUSTRIES GROUP, INC. Notes to the Unaudited Condensed Consolidated Financial Statements September 30, 2021 F) STOCK-BASED COMPENSATION The Company accounts for stock-based compensation in accordance with the provisions of ASC 718. ASC 718 requires all share-based payments to employees, including grants of employee stock options, to be recognized in the financial statements based on the grant-date fair value of the award. That cost will be recognized over the period during which an employee is required to provide service in exchange for the reward- known as the requisite service period. No compensation cost is recognized for equity instruments for which employees do not render the requisite service. The grant-date fair value of employee share options and similar instruments are estimated using the Black Scholes option-pricing model adjusted for the unique characteristics of those instruments. Equity instruments issued to non-employees are recorded at their fair values as determined in accordance with ASC 718 as amended by ASU 2018-07. As such, the grant date is the measurement date of an award’s fair value. G) FAIR VALUE OF FINANCIAL INSTRUMENTS The Company follows ASC 820, “Fair Value Measurements.” ASC 820 defines fair value, establishes a three-level valuation hierarchy for disclosures of fair value measurement and enhances disclosure requirements for fair value measures. The three levels are defined as follows: Level 1 inputs to the valuation methodology are quoted prices (unadjusted) 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, 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 inputs to the valuation methodology are unobservable and significant to the fair measurement. The carrying amounts reported in the balance sheets for cash and cash equivalents, and current liabilities each qualify as financial instruments and are a reasonable estimate of fair value because of the short period of time between the origination of such instruments and their expected realization and their current market rate of interest. The carrying value of notes payable approximates fair value because negotiated terms and conditions are consistent with current market rates as of September 30, 2021 and December 31, 2020. Marketable securities are reported at the quoted and listed market rates of the securities held at the period end. GLOBAL TECH INDUSTRIES GROUP, INC. Notes to the Unaudited Condensed Consolidated Financial Statements September 30, 2021 The following table presents the Company’s marketable securities within the fair value hierarchy utilized to measure fair value on a recurring basis as of September 30, 2021 and December 31, 2020: SCHEDULE OF FAIR VALUE ASSETS AND LIABILITIES MEASURED ON RECURRING BASIS Level 1 Level 2 Level 3 Marketable Securities – September 30, 2021 $ 195,000 $ - 0 $ - 0 Marketable Securities – December 31, 2020 $ 31,000 $ - 0 $ - 0 H) BASIC AND DILUTED LOSS PER SHARE The Company calculates earnings per share in accordance with ASC 260, “Earnings Per Share.” Basic loss per share is computed by dividing net income (loss) by the weighted-average number of shares of common stock outstanding during the period. Diluted earnings (loss) per share gives effect to dilutive convertible securities, options, warrants and other potential common stock outstanding during the period; only in periods in which such effect is dilutive. For September 30, 2021, there were 4,500,664 stock options outstanding, however their effects were anti-dilutive. For September 30, 2020, there were no potentially dilutive securities to consider in the fully diluted earnings per share calculation. SCHEDULE OF BASIC AND DILUTED PER SHARE 2021 2020 For the Three Months Ended September 30, 2021 2020 Loss (numerator) $ (2,768,613 ) $ (317,304 ) Shares (denominator) 235,247,771 205,377,721 Basic and diluted loss per share $ (0.01 ) $ (0.00 ) 2021 2020 For the Nine months Ended September 30, 2021 2020 Loss (numerator) $ (4,546,463 ) $ (954,788 ) Shares (denominator) 234,303,915 205,732,175 Basic and diluted loss per share $ (0.02 ) $ (0.00 ) I) RECENT ACCOUNTING PRONOUNCEMENTS The Company has implemented all new accounting pronouncements that are in effect. These pronouncements did not have any material impact on the financial statements unless otherwise disclosed, and the Company does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations. J) Marketable Securities The Company purchases marketable securities and engages in trading activities for its own account. Securities that are held principally for resale in the near term are recorded at fair value with changes in fair value included in earnings. Interest and dividends are included in net Interest Income. GLOBAL TECH INDUSTRIES GROUP, INC. Notes to the Unaudited Condensed Consolidated Financial Statements September 30, 2021 | NOTE 2 – SIGNIFICANT ACCOUNTING POLICIES A) PRINCIPLES OF CONSOLIDATION The accompanying consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries, Ludicrous, Inc., TTI Strategic Acquisitions and Equity Group, Inc, TTII Oil & Gas, Inc., and G T International, Inc. All subsidiaries of the Company, other than TTI Strategic Acquisitions and Equity Group, Inc., currently have no financial activity. All significant inter-company balances and transactions have been eliminated. B) USE OF MANAGEMENT’S ESTIMATES The preparation of financial statements in conformity with United States generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reported period. Actual results could differ from those estimates. These financial statements have material estimates for valuation of stock and option transactions. C) CASH EQUIVALENTS The Company considers all highly liquid investments with an original maturity of three months or less to be cash equivalents. Cash and cash equivalents are maintained with major financial institutions in the U S. Deposits held with these banks at times exceed $ 250,000 no D) FIXED ASSETS Property, plant and equipment are stated at cost. Depreciation is computed using the straight-line method over the estimated useful lives of the related assets, ranging from 3 7 E) INCOME TAXES The Company follows ASC 740, “Income Taxes,”, which discusses recognition and measurement of uncertain tax positions using a “more-likely-than-not” approach, requiring the recognition and measurement of uncertain tax positions. Deferred taxes are provided on a liability method whereby deferred tax assets are recognized for deductible temporary differences and operating loss and tax credit carry forwards and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the reported amounts of assets and liabilities and their tax bases. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all the deferred tax assets will to be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment. F) REVENUE RECOGNITION The Company had $ 8,500 0 G) STOCK-BASED COMPENSATION The Company accounts for stock-based compensation in accordance with the provisions of ASC 718, “Compensation – Stock Compensation.” ASC 718 requires all share-based payments to employees, including grants of employee stock options, to be recognized in the financial statements based on the grant-date fair value of the award. That cost will be recognized over the period during which an employee is required to provide service in exchange for the reward- known as the requisite service period. No compensation cost is recognized for equity instruments for which employees do not render the requisite service. The grant-date fair value of employee share options and similar instruments are estimated using the Black Scholes option-pricing model adjusted for the unique characteristics of those instruments. Equity instruments issued to non-employees are recorded at their fair values as determined in accordance with ASC 718 as amended by ASU 2018-07. As such, the grant date is the measurement date of an award’s fair value. H) INTANGIBLE ASSETS AND BUSINESS COMBINATIONS The Company follows ASC 805, “Business Combinations,” and ASC 350, “Intangibles - Goodwill and Other”. ASC 805 requires the use of the purchase method of accounting for any business combinations, and further clarifies the criteria to recognize intangible assets separately from goodwill. Under ASC 350, goodwill and indefinite−life intangible assets are reviewed for impairment annually. I) FAIR VALUE OF FINANCIAL INSTRUMENTS The Company follows ASC 820, “Fair Value Measurements,” defines fair value, establishes a three-level valuation hierarchy for disclosures of fair value measurement and enhances disclosure requirements for fair value measures. The three levels are defined as follows: [ ] Level 1 inputs to the valuation methodology are quoted prices (unadjusted) 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, 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 inputs to the valuation methodology are unobservable and significant to the fair measurement. The carrying amounts reported in the balance sheets for cash and cash equivalents, and current liabilities each qualify as financial instruments and are a reasonable estimate of fair value because of the short period of time between the origination of such instruments and their expected realization and their current market rate of interest. The carrying value of notes payable approximates fair value because negotiated terms and conditions are consistent with current market rates as of December 31, 2020, and 2019. Marketable securities are reported at the quoted and listed market rates of the securities held at the year end. The following table presents the Company’s Marketable securities within the fair value hierarchy utilized to measure fair value on a recurring basis as of December 31, 2020, and 2019: SCHEDULE OF FAIR VALUE ASSETS AND LIABILITIES MEASURED ON RECURRING BASIS Level 1 Level 2 Level 3 Marketable Securities – 2020 $ 31,000 $ -0- $ -0- Marketable Securities – 2019 $ 44,044 $ -0- $ -0- J) BASIC AND DILUTED EARNINGS (LOSS) PER SHARE The Company calculates earnings (loss) per share in accordance with ASC 260, “Earnings Per Share.” Basic earnings (loss) per share is computed by dividing net income (loss) by the weighted-average number of shares of common stock outstanding during the period. Diluted earnings (loss) per share gives effect to dilutive convertible securities, options, warrants and other potential common stock outstanding during the period; only in periods in which such effect is dilutive. For 2020 there were 4,500,664 no SCHEDULE OF BASIC AND DILUTED PER SHARE 2020 2019 For the Years Ended December 31, 2020 2019 Loss (numerator) $ (2,778,486 ) $ (1,428,835 ) Shares (denominator) 207,923,257 178,502,990 Basic and diluted loss per share $ (.01 ) $ (.01 ) K) RECENT ACCOUNTING PRONOUNCEMENTS The Company has implemented all new accounting pronouncements that are in effect. These pronouncements did not have any material impact on the financial statements unless otherwise disclosed, and the Company does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations. L) MARKETABLE SECURITIES The Company purchases marketable securities and engages in trading activities for its own account. Securities that are held principally for resale in the near term are recorded at fair value with changes in fair value included in earnings. Interest and dividends are included in net Interest Income. M) Concentrations The Company generated 100 |
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS | 9 Months Ended | 12 Months Ended |
Sep. 30, 2021 | Dec. 31, 2020 | |
Related Party Transactions [Abstract] | ||
RELATED PARTY TRANSACTIONS | NOTE 7 - RELATED PARTY TRANSACTIONS Due to Related Parties Due to related parties consists of cash advances and expenses paid by Mr. Reichman in order to satisfy the expense needs of the Company. The payables and cash advances are unsecured, due on demand and do not bear interest. During the nine months ended September 30, 2021 and 2020, Mr. Reichman advanced $ 160,439 and $ 104,981 , respectively, and was repaid $ 186,069 and $ 0 , respectively. At September 30, 2021 and December 31, 2020, the amounts owed to Mr. Reichman are $ 83,883 and $ 109,513 , respectively. Accrued Wages The Company does not have sufficient operations and funds to pay its officers their wages in cash, therefore all wages have been accrued for the nine months ended September 30, 2021 and 2020. The accrued wages for the nine months ended September 30, 2021 and 2020 are $ 465,000 510,000 465,000 0 | NOTE 3 – RELATED PARTY TRANSACTIONS Notes Payable-Related Party The Company is indebted to the officers of the Company for unpaid wages, expenses and cash advances from current and previous years that were converted into Notes during 2019. Various Directors and Shareholders have also advanced funds to the Company to support operations. The balances on December 31, 2020, and 2019 for Related Party Notes Payable are $ 0 3,540,405 0 298,796 3,540,405 434,345 4,663,705 4,500,664 0 SCHEDULE OF SHARES AND OPTIONS ISSUED FOR DEBT TO RELATED PARTIES Stock Options Gain Total Notes payable $ 387,674 $ 339,952 $ 2,812,779 $ 3,540,405 Accrued interest 47,561 41,706 345,078 434,345 Accrued wages 74,460 65,295 540,245 680,000 Accounts payable 982 860 7,114 8,956 Totals $ 510,677 $ 447,813 $ 3,705,216 $ 4,663,706 Mr. Reichman, our CEO, has rendered services to the Company and his wages have been accrued in accrued expenses during 2017, 2018 and 2019. On December 30, 2019, Mr. Reichman agreed to consolidate accrued wages, auto allowance and cash advances in the amount of $ 2,016,672 5 July 15, 2021 2,437,717 3,192,385 3,192,385 3,080,781 0 0 163,254 Mrs. Griffin, our President, has rendered services to the Company and her wages have been accrued in accrued expenses during 2017, 2018 and 2019. On December 30, 2019, Mrs. Griffin agreed to consolidate accrued wages and expenses into a long-term Note Payable of $ 563,000 5 July 15, 2021 769,670 1,045,700 1,045,700 1,009,143 0 0 67,168 On December 13, 2012, the Company executed a note payable to an individual and board member in the amount of $ 19,000 8 8 July 15, 2021 30,459 26,459 0 0 10,319 On March 6, April 22, April 30, May 24, June 14, June 21, July 3, July 30, November 20, December 2, December 13, 2013, the Company executed notes payable to an individual and board member in the total amount of $ 31,000 6 8 July 15, 2021 44,532 38,683 0 0 12,137 On January 2, January 21, April 24, May 19, July 28, August 26, and December 23, 2014, the Company executed notes payable to an individual and board member in the total amount of $ 31,500 6 8 July 15, 2021 43,536 37,818 0 0 10,617 On February 11, April 21, May 6, June 8, June 15, July 17, August 19, October 20, 2015, and January 22, 2016, the Company executed notes payable to an individual and board member in the total amount of $ 34,800 6% 8 months July 15, 2021 45,837 39,817 0 0 9,471 On February 28, 2013, the Company executed a note payable to a Trust and shareholder, whose Trustee is our CEO, in the amount of $ 5,000 6% 8 months July 15, 2021 7,275 6,320 0 0 2,050 On July 23, July 24, August 18, August 26, and September 13, 2013, the Company executed a note payable to a Trust and shareholder, whose Trustee is our CEO, in the total amount of $ 80,000 6% 8 months 7,924 72,076 75,319 65,427 0 0 0 On May 15, July 12, July 17, and November 22, 2013, the Company executed notes payable to a Trust and shareholder, whose Trustee is our CEO, in the total amount of $ 83,877 6% July 15, 2021 96,430 83,765 0 0 8,778 On January 22, 2014, the Company executed a note agreement with a Trust and shareholder, whose Trustee is our CEO, in the amount of $ 14,000 6% 8 months July 15, 2021 19,619 17,042 0 0 4,989 On April 7, 2014, April 17, 2014, June 6, 2014, July 18, 2014, and October 10, 2014, the Company executed note agreements with a Trust and shareholder whose Trustee is our CEO, in various amounts totaling $ 24,000 6% 8 months July 15, 2021 33,528 29,124 0 0 8,448 On October 10, 2014, the Company executed a note payable to a Trust and shareholder, whose Trustee is our CEO, in the amount of $ 5,000 6% 8 months July 15, 2021 6,792 5,900 0 0 1,567 On December 30, 2019, the Company executed a note payable to a Trust and shareholder, whose Trustee is our CEO, in the amount of $ 12,765 6% July 15, 2021 13,339 11,587 0 0 0 (b) Additional detail to all Notes Payable-Related Party is as follows: SCHEDULE OF NOTES PAYABLE RELATED PARTY 2020 2019 Interest Interest Expense Principal Principal Rate 12/31/2020 12/31/2019 Maturity $ - $ 2,016,672 5.00 % $ 75,265 $ - 7/15/21 - 563,000 5.00 % 21,113 - 7/15/21 - 409,920 5.00 % 15,372 20,496 7/15/21 - 11,125 5.00 % 417 556 7/15/21 - 200,000 5.00 % 7,500 10,000 7/15/21 - 6,670 5.00 % 249 334 7/15/21 - 19,000 8.00 % 1,140 1,520 7/15/21 - 31,000 6.00 % 1,170 1,560 7/15/21 - 31,500 6.00 % 1,419 1,892 7/15/21 - 34,800 6.00 % 1,566 2,088 7/15/21 - 5,000 6.00 % 225 300 7/15/21 - 72,076 6.00 % 3,600 4,800 7/15/21 - - 6.00 % 2,214 2,952 N/A - - 6.00 % 113 150 N/A - 83,877 6.00 % 1,005 1,340 7/15/21 - 14,000 6.00 % 630 840 7/15/21 - 24,000 6.00 % 1,080 1,440 7/15/21 - 5,000 6.00 % 225 300 7/15/21 - 12,765 6.00 % 573 - 7/15/21 $ 0 $ 3,540,405 $ 134,876 $ 50,568 Due to Officers and Directors Due to officers consists of cash advances and expenses paid by Mr. Reichman to satisfy the expense needs of the Company. The balance of advances made by Mr. Reichman on December 30, 2019, in the amount of $ 400,223 177,513 68,000 108,192 62,591 109,513 0 |
FIXED ASSETS
FIXED ASSETS | 9 Months Ended | 12 Months Ended |
Sep. 30, 2021 | Dec. 31, 2020 | |
Property, Plant and Equipment [Abstract] | ||
FIXED ASSETS | NOTE 4 - FIXED ASSETS During the year ended 2020, the Company wrote off all fixed assets purchased prior to 2019, that were fully depreciated. Depreciation expense for the nine months ended September 30, 2021 and 2020 was $ 1,845 0 Fixed assets consist of the following: SCHEDULE OF FIXED ASSETS September 30, 2021 December 31, 2020 Computer equipment $ 3,213 $ 3,213 Total fixed assets 3,213 3,213 Accumulated Depreciation (1,070 ) (267 ) Net fixed assets $ 2,143 $ 2,946 | NOTE 4 - FIXED ASSETS During the year ended 2020, the Company wrote off all fixed assets purchased prior to 2019, that were fully depreciated. Depreciation expense was $ 267 0 Fixed assets consist of the following: SCHEDULE OF FIXED ASSETS 2020 2019 Computer equipment $ 3,213 $ 134,896 Office equipment - 22,600 Telephone equipment - 12,900 Total fixed assets 3,213 170,396 Accumulated Depreciation (267 ) (170,396 ) Net fixed assets $ 2,946 $ - |
NOTES PAYABLE
NOTES PAYABLE | 9 Months Ended | 12 Months Ended |
Sep. 30, 2021 | Dec. 31, 2020 | |
Debt Disclosure [Abstract] | ||
NOTES PAYABLE | NOTE 8 - NOTES PAYABLE (a) NOTES PAYABLE IN DEFAULT: Notes payable in default consist of various notes bearing interest at rates from 5 9 871,082 871,082 372,180 345,663 GLOBAL TECH INDUSTRIES GROUP, INC. Notes to the Unaudited Condensed Consolidated Financial Statements September 30, 2021 During 2002, the Company settled a trade payable in litigation by executing a note payable to a company in the amount of $ 18,000 6 September 1, 2002 21,690 20,880 Also during 2002, in settlement of another trade payable, the Company executed a note payable to a company in the amount of $ 30,000 6 September 12, 2002 33,649 32,299 During 2000, the Company executed a note payable to an individual in the amount of $ 25,000 5 August 31, 2000 28,030 27,091 In 2002, the Company settled an obligation with a consultant by executing a note payable for $ 40,000 7 July 10, 2002 54,387 52,287 On December 27, 2009, the Company executed a note payable to an individual for various advances to the Company in the amount of $ 292,860 388,376 5 October 5, 2019 5,553 160,474 145,909 In January 27, 2010, the Company executed a note payable to a corporation in the amount of $ 192,000 6 13,440 On August 28, 2012, and September 17, 2012, the Company executed a note payable to a corporation in the amount of $ 12,000 20,000 32,960 5 October 5, 2018 473 13,619 12,383 On April 12, 2012, the Company executed a note payable to a corporation in the amount of $ 100,000 5 October 5, 2018 1,430 41,318 37,568 On December 31, 2012, the Company executed a note payable to a corporation in the amount of $ 32,000 32,746 5 October 5, 2018 468 13,527 12,300 On March 11, 2014, the Company executed a note agreement with an LLC in the amount of $ 5,000 6 8 months October 5, 2018 2,267 2,042 On January 31, 2014, the Company executed a note agreement with a Corporation in the amount of $ 7,000 6 October 5, 2018 3,219 2,904 GLOBAL TECH INDUSTRIES GROUP, INC. Notes to the Unaudited Condensed Consolidated Financial Statements September 30, 2021 None of the above notes are convertible or have any covenants. (b) Additional detail to all Notes Payable in Default is as follows: SCHEDULE OF NOTES PAYABLE September 30, December 31, Interest Interest Expense Principal Principal Rate 9/30/2021 9/30/2020 Maturity $ 32,960 32,960 5.00 % 1,236 1,236 10/5/18 32,746 32,746 5.00 % 1,227 1,227 10/5/18 5,000 5,000 6.00 % 225 225 10/5/18 100,000 100,000 5.00 % 3,750 3,750 10/5/18 7,000 7,000 6.00 % 315 315 10/5/18 388,376 388,376 5.00 % 14,565 14,565 10/5/18 192,000 192,000 0 % 10,080 10,080 10/5/18 18,000 18,000 6.00 % 810 810 9/1/2002 30,000 30,000 6.00 % 1,350 1,350 9/12/2002 25,000 25,000 5.00 % 939 939 8/31/2000 40,000 40,000 7.00 % 2,100 2,100 7/10/2002 $ 871,082 $ 871,082 $ 36,597 $ 36,597 At September 30, 2021 and December 31, 2020, accrued interest on the outstanding notes payable (default and current) were $ 376,007 and $ 345,663 , respectively and related party notes was $0 and $0, respectively. Interest expense on the outstanding notes amounted to $ 40,425 162,068 (c) CONVERTIBLE DEBENTURE: On November 27, 2020, the Company executed a convertible debenture with a corporation in the amount of $ 74,800 10 November 27, 2021 The debenture included a conversion right to be exercised at any time 180 days after execution of the note and was convertible into common stock of the Company at 75 The convertible debenture also contained an OID or original issue discount of $ 6,800 68,000 20 Accrued interest and penalties at September 30, 2021 and December 31, 2020 were $ 0 12,045 0 74,800 GLOBAL TECH INDUSTRIES GROUP, INC. Notes to the Unaudited Condensed Consolidated Financial Statements September 30, 2021 (d) NOTES PAYABLE On July 20, 2021, the Company received cash from an individual in the amount of $ 100,000 5 12 2,170 0 On August 6, 2021, the Company received cash from an individual in the amount of $ 100,000 5 12 1,658 0 (e) Additional detail to all Notes Payable is as follows: September 30, December 31, Interest Interest Expense Principal Principal Rate 9/30/2021 9/30/2020 Maturity $ 100,000 0 5.00 % 2,170 0 7/20/22 100,000 0 5.00 % 1,658 0 8/6/22 200,000 0 3,828 0 (f) STOCK DEPOSITS On February 26, 2021, the Company received cash from an accredited investor in the amount of $ 100,000 On March 26, 2021, the Company received an additional amount of $ 50,000 During the 2 nd 5 190,000 During the 3 rd 3 150,000 Stock deposits are advances only and do not bear interest and are unsecured, but have the intention of being satisfied through the issuance of common shares of the Company during the current fiscal period. (g) IMPUTED INTEREST During the three months ended September 30, 2021 and 2020, the Company recorded imputed interest on a non-interest-bearing note in the amount of $ 3,360 3,360 10,080 10,080 | NOTE 5 - NOTES PAYABLE (a) NOTES PAYABLE IN DEFAULT: Notes payable in default consist of various notes bearing interest at rates from 5% 9% 871,082 871,082 345,663 310,307 During 2002, the Company settled a trade payable in litigation by executing a note payable to a Company in the amount of $ 18,000 6% September 1, 2002 20,880 19,800 Also, during 2002, in settlement of another trade payable, the Company executed a note payable to a Company in the amount of $ 30,000 6% September 12, 2002 32,299 30,499 During 2000, the Company executed a note payable to an individual in the amount of $ 25,000 5% August 31, 2000 27,091 25,839 In 2002, the Company settled an obligation with a consultant by executing a note payable for $ 40,000 7% July 10, 2002 52,287 49,487 On December 27, 2009, the Company executed a note payable to an individual for various advances to the Company in the amount of $ 292,860 388,376 5% October 5, 2019 5,553 145,909 126,489 On January 27, 2010, the Company executed a note payable to a corporation in the amount of $ 192,000 6 months 13,440 On August 28, 2012, and September 17, 2012, the Company executed a note payable to a corporation in the amount of $ 12,000 20,000 32,960 5% October 5, 2018 473 12,383 10,735 On April 12, 2012, the Company executed a note payable to a corporation in the amount of $ 100,000 5% October 5, 2018 1,430 On December 31, 2012, the Company executed a note payable to a corporation in the amount of $ 32,000 32,746 5% October 5, 2018 468 12,300 10,664 On March 11, 2014, the Company executed a note agreement with an LLC in the amount of $ 5,000 6% 8 months October 5, 2018 2,042 1,742 On January 31, 2014, the Company executed a note agreement with a corporation in the amount of $ 7,000 6% 8 months October 5, 2018 2,904 2,484 None of the above notes are convertible or have any covenants. (b) Additional detail to all Notes Payable in Default is as follows: SCHEDULE OF NOTES PAYABLE 2020 2019 Interest Interest Expense Principal Principal Rate 12/31/2020 12/31/2019 Maturity $ 32,960 32,960 5.00 % 1,649 1,648 10/5/18 32,746 32,746 5.00 % 1,637 1,636 10/5/18 5,000 5,000 6.00 % 300 300 10/5/18 100,000 100,000 5.00 % 5,000 5,000 10/5/18 7,000 7,000 6.00 % 420 420 10/5/18 388,376 388,376 5.00 % 19,420 19,419 10/5/18 192,000 192,000 0 % 13,440 13,440 10/5/18 18,000 18,000 6.00 % 1,080 1,080 9/1/2002 30,000 30,000 6.00 % 1,800 1,800 9/12/2002 25,000 25,000 5.00 % 1,250 1,250 8/31/2000 40,000 40,000 7.00 % 2,800 2,800 7/10/2002 $ 871,082 $ 871,082 $ 48,796 $ 48,793 On December 31, 2020, and 2019, accrued interest on the outstanding notes payable were $ 345,663 310,307 0 298,796 183,669 99,361 (c) CONVERTIBLE DEBENTURE: On November 27, 2020, the Company executed a convertible debenture with a corporation in the amount of $ 74,800 10% The debenture includes a conversion right to be exercised at any time 180 days after execution of the note and is convertible into common stock of the Company at 75% of the market price, being calculated as the lowest three trading prices during the fifteen-trading day period prior to conversion. The Debenture also required the Company to reserve 5 times the expected conversion share amount at the transfer agent, to insure there are sufficient shares available upon conversion. The convertible debenture also contains a OID or original issue discount of $ 6,800 68,000 The convertible debenture can be prepaid before the maturity date, however, if it is prepaid there are penalties associated with an early prepayment as follows: Payment within 60 days of execution, prepayment penalty is 15% Payment after 60 days but within 90 days, prepayment penalty is 20% Payment after 90 days but within 120 days, prepayment penalty is 25% Payment after 120 days but within 180 days, prepayment penalty is 29% Because the Company prepaid the Convertible Debenture on February 26, 2021 (see subsequent events), the Company accrued the related penalties pursuant to the agreement, along with the accrued interest. Accrued interest and penalties on December 31, 2020, was $ 12,045 74,800 |
INCOME TAXES
INCOME TAXES | 12 Months Ended |
Dec. 31, 2020 | |
Income Tax Disclosure [Abstract] | |
INCOME TAXES | NOTE 6 - INCOME TAXES The Company follows the provisions of ASC 740, “Income Taxes.” This standard requires a company to determine whether it is more likely than not that a tax position will be sustained upon examination based upon the technical merits of the position. If the more-likely-than-not threshold is met, a company must measure the tax position to determine the amount to recognize in the financial statements. As a result of the implementation of this standard, the Company performed a review of its material tax positions in accordance with recognition and measurement standards established by ASC 740. Deferred taxes are provided on a liability method whereby deferred tax assets are recognized for deductible temporary differences and operating loss and tax credit carry-forwards and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the reported amounts of assets and liabilities and their tax basis. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment. Deferred tax assets and the valuation account are as follows: SCHEDULE OF DEFERRED TAX ASSETS 2020 2019 Deferred tax assets: NOL carryover $ 3,508,211 $ 3,354,581 Valuation allowance (3,508,211 ) (3,354,581 ) Net deferred tax asset $ - $ - The income tax provision differs from the amount of income tax determined by applying the U.S. federal and state income tax rates of 21% The components of income tax expense are as follows: SCHEDULE OF COMPONENTS OF INCOME TAX EXPENSE 2020 2019 Book loss $ (583,482 ) $ (300,055 ) Stock based compensation 427,056 203,606 Non-deductible expenses 87 1,352 Unrealized/Realized gains or losses on Securities (net) 2,709 1,642 Change in NOL valuation allowance 153,630 93,455 Income tax expense benefit $ - $ - The Company currently has no issues creating timing differences that would mandate deferred tax expense. Net operating losses would create possible tax assets in future years. Due to the uncertainty of the utilization of net operating loss carry forwards, a valuation allowance has been made to the extent of any tax benefit that net operating losses may generate. A provision for income taxes has not been made due to net operating loss carry-forwards of $ 15,878,689 15,147,119 A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows: SCHEDULE OF RECONCILIATION OF BEGINNING AND ENDING OF UNRECOGNIZED TAX BENEFITS December 31, 2020 2019 Beginning balance $ 3,354,581 $ 3,261,126 Additions based on tax positions related to current year 153,630 93,455 Additions for tax positions of prior years - - Reductions for tax positions of prior years - - Reductions in benefit due to income tax expense - - Ending balance $ 3,508,211 $ 3,354,581 The Company did not have any tax positions for which it is reasonably possible that the total amount of unrecognized tax benefits will significantly increase or decrease within the next 12 months. The Company includes interest and penalties arising from the underpayment of income taxes in the consolidated statements of operations in the provision for income taxes. As of December 31, 2020, and 2019, the Company had no The tax years that remain subject to examination by major taxing jurisdictions are for the years ended December 31, 2020, 2019, 2018, 2017, 2016 and 2015. |
STOCKHOLDERS_ EQUITY (DEFICIT)
STOCKHOLDERS’ EQUITY (DEFICIT) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2021 | Dec. 31, 2020 | |
Equity [Abstract] | ||
STOCKHOLDERS’ EQUITY (DEFICIT) | NOTE 9 - STOCKHOLDERS’ EQUITY (DEFICIT) ISSUANCES OF COMMON STOCK During the nine months ended September 30, 2021 and 2020, the Company issued 6,074,135 and 6,540,000 shares of common stock with a fair market value of $ 3,643,612 and $ 158,050 , respectively, for services rendered. The services performed during the quarter were, legal, IR services, IT and consulting services for art procurement, medical advisory and service related to a 501c charitable organization. All services performed were from outside, unrelated third parties. During the second quarter 2021, the Company re-negotiated its contractor agreements with its contract professionals, wherein, due to the increase in stock price during 2021, the contractors agreed to accept the shares issued in the first quarter 2021 (250,000 shares each), as a prepayment (escrow) of shares, and agreed to record the earned shares each quarter, based on the 10 day moving average stock price at quarters end, based on the individual contractor agreed compensation. This change in contract administration required a recording of expense at September 30, 2021 in the amount of $ 938,250 , and an identical entry to paid in capital, without the issuance of additional shares. On February 28, 2021, the Company executed a Stock Purchase Agreement wherein the Company acquired all the issued and outstanding stock of Gold Transactions International, Inc. (GTI) (a Utah Corporation), for the issuance of 6,000,000 6,000,000 Effective April 1, 2021, the Company, signed a binding agreement (the “Agreement”) with Bronx Family Eye Care, Inc. (BFE), engaged in the business of full scope optometry at its four primary locations, three of which are in the Bronx, one of which is in Manhattan, New York, as well as at a fabrication facility in the Bronx. Eyecare and Eyewear, Inc. is a diagnostic medical eye exam company that provides on-demand services of at-home eye exams to patients, as well as bulk exams conducted at medical offices, and virtual exams conducted through telemedicine software. The two companies agreed to engage in a business combination such that BFE will become a wholly owned subsidiary of GTII, and the shareholders of BFE will acquire two million six hundred fifty thousand ( 2,650,000 ) shares of the Company’s common stock, subject to the terms and conditions set forth in the Agreement. The 2,650,000 shares have been issued, but are held in escrow until the closing conditions are met, therefore these share are reported as issued but not outstanding. The Agreement also includes a requirement to have a 2-year audit from a licensed CPA firm as a condition to the finalization of the Agreement, therefore, no operating activities, assets or liabilities will be consolidated with the Company until this final condition is met. There were no acquisition related costs incurred in acquiring BFE. The initial accounting of the BFE acquisition is incomplete as of the date of the Company’s 10-Q filing. Therefore, disclosures related to the issuers recording of the acquisition, and related balance sheet and income statement disclosures cannot be made at this time. Effective April 1, 2021, the operations of BFE will be consolidated with the Company, upon the conditions described above being met. BFE is a currently operating company with revenues in excess of $ 1,000,000 On March 22, 2021, the Company declared a warrant dividend to the shareholders of record on April 1, 2021, to be administered via its transfer agent Liberty Stock Transfer. On April 8, 2021, the Company issued the warrants to its shareholder at a rate of 1 warrant for each 10 shares owned as of April 1, 2021. The warrant entitles the holder to purchase one restricted share of GTII common stock for a price of $ 2.75 2 April 8, 2023 57,689,800 On June 24, 2021, the Company executed a Stock Purchase Agreement (SPA) with MyRetinaDocs LLC (“My Retina”), a New York Limited Liability Company, with principal business operations in New York City. My Retina is a SaaS software and practice management company performing diagnostic medical care services. My Retina licenses, leases and operates its proprietary telemedicine software, as well as medical equipment together to offer eye exam data to its clients. My Retina also has a diagnostic medical eye exam company that provides on-demand services of at-home eye exams to patients, as well as bulk exams conducted at medical offices and virtual exams conducted through telemedicine software. The Company issued 1,500,000 100 1,500,000 There were no acquisition related costs incurred in acquiring My Retina. The initial accounting of the My Retina acquisition is incomplete as of the date of the Company’s 10-Q filing. Therefore, disclosures related to the issuers recording of the acquisition, and related balance sheet and income statement disclosures cannot be made at this time. On June 28, 2021, the Company increased its authorized shares of common stock to 550,000,000 On August 24, 2021, the Company and We SuperGreen Energy Corp (WSGE) and WSGE shareholders reached and signed a Definitive Letter Agreement wherein the Company will acquire 100% of the shares of WSGE, subject to various closing conditions, expected to close before the calendar year end. The conditions for WSGE include the completion of a 2 year audit of WSGE, written verification of a substantial bona fide purchase order contract in an amount of no less than $50 million dollars, by a customer, awarded to SuperGreen, a substantial cash deposit by the customer to GTII’s satisfaction, transfer of patents and other legal approvals. The Company will also receive all proper legal approvals for the transaction and file for up-listing to a national exchange, and use its best efforts to raise capital to assist with the costs of the acquisition. Consideration for the acquisition will consist of all Preferred shares being assigned to the CEO of WSGE, and common share issuances in an amount sufficient to give the shareholders of WSGE majority in the Company. GLOBAL TECH INDUSTRIES GROUP, INC. Notes to the Unaudited Condensed Consolidated Financial Statements September 30, 2021 ISSUANCES OF PREFERRED STOCK Pursuant to the Articles of Incorporation of the Company, there was initially authorized 50,000 1,000 a) Super voting power, wherein the 1,000 b) No entitlement to dividends. c) No liquidation preferences. d) No conversion rights. e) Automatic Redemption Rights upon certain triggers, to be redeemed at par value. STOCK OPTIONS On December 19, 2020, in conjunction with the conversion of related party notes, accrued interest and compensation, the Company authorized the issuance of 4,500,664 ● One option allows for the purchase of one share of common stock ● The strike price of the option is $ .01 ● The conversion term is 2 ● All options are vested immediately The value of the options were determined using the Black-Scholes valuation method, and the Company uses the following methods to determine its underlying assumptions: expected volatilities are based on the historical monthly closing price of the Company’s common stock; the expected term is 2 year, the risk free interest rate used is based on the U.S Treasury implied yield zero-coupon issue with similar life terms to the expected life of the grant; and the expected divided yield is based on the current annual dividend. No compensation was recorded with the 4,500,664 447,813 SCHEDULE OF STOCK OPTION ISSUANCE OF FAIR VALUE ASSUMPTIONS Assumptions: 2020 Assumptions applicable to stock options issued Risk-free interest rate 3 % Expected lives (in years) 2 Expected stock volatility 72 % Dividend yield - Stock option transactions are as follows: SCHEDULE OF STOCK OPTION Weighted Weighted Average Average Aggregate Exercise Remaining Intrinsic Shares Price Term Value Outstanding at January 1, 2020 - $ - - $ - Granted 4,500,664 .01 2 427,563 Exercised - - - - Forfeited - - - - Outstanding at December 31,2020 4,500,664 $ .01 2 $ 427,563 Granted - - - - Exercised - - - - Forfeited - - - - Outstanding at September 30, 2021 4,500,664 $ .01 1.25 $ 427,563 GLOBAL TECH INDUSTRIES GROUP, INC. Notes to the Unaudited Condensed Consolidated Financial Statements September 30, 2021 WARRANTS On March 22, 2021, GTII entered into a warrant agreement with Liberty Stock Transfer Agent (“Liberty”), whereby Liberty agreed to act as GTII’s warrant agent in its offering of warrants to GTII’s shareholders (each, a “Warrant”). All shareholders of record on April 1, 2021, were issued 0.10 23,364,803 57,689,800 2.75 April 8, 2023 SCHEDULE OF WARRANTS ISSUANCE OF FAIR VALUE ASSUMPTIONS 2021 Warrants Assumptions: Assumptions applicable to stock options issued Risk-free interest rate .25 Expected lives (in years) 2 Expected stock volatility 266 Dividend yield - Warrant transactions are as follows: SCHEDULE OF WARRANTS Weighted Weighted Average Average Aggregate Exercise Remaining Intrinsic Shares Price Term Value Outstanding at January 1, 2020 - $ - - $ - Granted - - - - Exercised - - - - Forfeited - - - - Outstanding at December 31, 2020 - $ - - $ - Granted 23,364,803 2.75 2.0 $ 57,689,800 Exercised - - - - Forfeited - - - - Outstanding at September 30, 2021 23,364,803 $ 2.75 1.50 $ 57,689,800 OTHER During the three months ended September 30, 2021 and 2020, the Company recorded imputed interest on a non-interest-bearing note in the amount of $ 3,360 and $ 3,360 , respectively, as an increase in additional paid in capital (see Note 8). The imputed interest for the nine months ended September 30, 2021 and 2020 was $ 10,080 10,080 GLOBAL TECH INDUSTRIES GROUP, INC. Notes to the Unaudited Condensed Consolidated Financial Statements September 30, 2021 | NOTE 7 - STOCKHOLDERS’ DEFICIT STOCKHOLDERS’ EQUITY (DEFICIT) A) NUMBER OF SHARES AUTHORIZED The Board of Directors have authorized 350,000,000 0.001 230,498,005 205,277,990 B) PREFERRED STOCK The Board of Directors authorized 50,000 During 2016, Board of Directors authorized the issuance of 1,000 1,000 1) Non-participating in the dividends to the Common Shareholders 2) No Liquidation Preference 3) Voting Rights to include: the right to vote in an amount equal to 51% of the total vote with respect to any proposal relating to (a) increasing the authorized share capital of the Company 4) No conversion rights 5) Redemption Rights: The Series A shares shall be automatically redeemed upon (a) Mr. Reichman ceases to serve as an officer or director of the Company, (b) on the date that the Company’s shares or common stock first trade on any national securities exchange C) ISSUANCES OF COMMON STOCK On June 28, 2019, the Board of Directors authorized the issuance of 5,000,000 262,500 On October 10, 2019, the Board of Directors authorized the issuance of 1,000,000 25,000 On December 19, 2019, the Board of Directors authorized the issuance of 8,000,000 168,000 On December 21, 2019, the Board of Directors authorized the issuance of 15,500,000 389,050 On December 21, 2019, the Board of Directors authorized the issuance of 5,000,000 150,000 On May 6, 2020, the Board of Directors authorized the issuance of 3,040,000 60,800 On June 24, 2020, the Board of Directors authorized the issuance of 1,500,000 30,000 On September 3, 2020, the Board of Directors authorized the issuance of 500,000 20,750 On September 23, 2020, the Board of Directors authorized the issuance of 1,500,000 30,000 On November 18, 2020, the Board of Directors authorized the issuance of 10,000,000 1,158,000 On December 3, 2020, the Board of Directors authorized the issuance of 3,000,000 322,500 222,167 On December 16, 2020, the Board of Directors authorized the issuance of 3,000,000 249,674 On December 19, 2020, the Board of Directors authorized the issuance of 4,663,705 510,676 On December 19, 2020, the Board of Directors authorized the issuance of 2,500,000 161,875 On December 31, 2020, the Board of Directors authorized the issuance of 184,840 D) 2007 OMNIBUS STOCK AND INCENTIVE PLAN On September 24, 2007, the Board of Directors authorized the creation of the 2007 Omnibus Stock and Incentive Plan (the “2007 Plan”). The 2007 Plan was approved by the stockholders on November 28, 2007. An aggregate of 60,000 Awards under the 2007 Plan may include non-qualified stock options, incentive stock options, stock appreciation rights (“SARs”), restricted shares of common stock, restricted units and performance awards. For a complete description of the Plan, see Global Tech’s Form 8-K filed with the SEC on November 7, 2007. E) UNEARNED ESOP SHARES Effective January 1, 2009, the Company organized the Tree Top Industries Profit-Sharing Plan Trust, to manage the Company’s Employee Stock Option Profit-Sharing Plan (“the Plan”). On November 13, 2018, the Trust name was changed to Global Tech Industries Group Profit Sharing Plan Trust. At the direction of the Board of Directors, the Company annually issues shares to the Trust for the future benefit of the employees of the Company. The plan allows the Board of Directors to issue shares to the Trust annually to be allocated to the participants. The Plan was organized consistent with the requirements of Section 401(a) of the Internal Revenue Code of 1986; however, the Plan has not been administered as a qualified retirement plan, and therefore, the shares issued to the ESOP have not been deducted for federal tax purposes. The employee group is a Top-Heavy group of Key Employees; however, the plan will also cover all employees that are eligible. Eligibility occurs for each employee that is employed on the anniversary date of the Plan. Participation shall cease upon the termination of the employee services, on account of death, disability, retirement or the separation from the employer. Each year the Employer shall contribute either cash or stock of the Corporation, an amount to the Plan as shall be determined by the Board of Directors. The contributions vest as follows: For each of the first two 10% Each additional year of Service over two 20% Full vesting after six years of Service Retirement and death benefits commence at the termination of Service. Benefits may be paid in Cash, Stock or through a Qualified Join and Survivor Annuity. Pursuant to ASC 718, the Company’s ESOP Plan is a non-leveraged plan, and therefore compensation expense is recorded at the fair value of the shares issued at the grant date. The Company has never issued dividends to its shareholders, and therefore no dividends have been issued to the ESOP plan. The ESOP shares are considered issued and outstanding for the earnings per share computation. Compensation expense of $ 0 150,000 23,500,000 23,500,000 no 2,350,000 878,900 In December 2019, the Company issued 5,000,000 150,000 No F) STOCK OPTIONS On December 19, 2020, in conjunction with the conversion of related party notes, accrued interest and compensation, the Company authorized the issuance of 4,500,664 ● One option allows for the purchase of one share of common stock ● The strike price of the option is $ .01 ● The conversion term is 2 years ● All options are vested immediately The value of the options were determined using the Black-Scholes valuation method, and the Company uses the following methods to determine its underlying assumptions: expected volatilities are based on the historical monthly closing price of the Company’s common stock; the expected term is 2 year, the risk free interest rate used is based on the U.S Treasury implied yield zero-coupon issue with similar life terms to the expected life of the grant; and the expected divided yield is based on the current annual dividend. No compensation was recorded with the 4,500,664 447,813 SCHEDULE OF STOCK OPTION ISSUANCE OF FAIR VALUE ASSUMPTIONS Assumptions: 2020 2019 Assumptions applicable to stock options issued Risk-free interest rate 3 % - Expected lives (in years) 2 - Expected stock volatility 72 % - Dividend yield - - Stock option transactions are as follows: SCHEDULE OF STOCK OPTION Weighted Weighted Average Average Aggregate Exercise Remaining Intrinsic Shares Price Term Value Outstanding on January 1, 2019 - $ - - $ - Granted - - - Exercised - - - Forfeited - - - Outstanding on December 31,2019 - $ - - $ - Granted 4,500,664 $ .01 2 $ 427,563 Exercised - - - Forfeited - - - Outstanding on December 31, 2020 4,500,664 $ .01 2 $ 427,563 |
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 9 Months Ended | 12 Months Ended |
Sep. 30, 2021 | Dec. 31, 2020 | |
Commitments and Contingencies Disclosure [Abstract] | ||
COMMITMENTS AND CONTINGENCIES | NOTE 10 - LEGAL ACTIONS COMMITMENTS AND CONTINGENCIES On February 3, 2017, the Company filed suit in Eastern District Federal Court New York against American Resource Technologies, Inc., (ARUR) and several directors and officers relating to the Chautauqua County Court Kansas decision nullifying the acquisition Agreement of ARUR. The Company has made several attempts to recover the shares of GTII stock paid to ARUR for the asset acquisition and the various costs and expenses expended by GTII in fulfillment of its obligations under the contract with ARUR. The failure of non-litigation attempts to resolve the matter resulted in filing an action for declaratory judgment in the US District Court for the Eastern District of New York, Docket No. 17-CV-0698. The case was subsequently withdrawn due to the close of ARUR operations. During 2020, the Company was successful in recalling the 4,668,530 On December 30, 2016, the Company executed a stock purchase agreement (the “Agreement”), which was signed and closed in Hong Kong, with GoFun Group, Ltd. through its wholly owned subsidiary Go F & B Holdings, Ltd. GoFun Group, Ltd. is a privately held company running a casual dining restaurant business, based in Hong Kong. Subsequent to the agreement being signed, GoFun Group failed to substantially perform under the agreement, including, but not limited to providing audited financials of its assets, making the ongoing payments called for in the agreement, along with other matters that led Global Tech to initiate litigation in the United States. Currently, Global Tech and GoFun are litigating the matter in the U.S District Court for the southern district of New York. The original acquisition agreement and rescission was recorded on the Company’s books in 2016, however the physical share certificates were not returned to the Company. During the last quarter 2019, the Company was able to secure, via preliminary settlement, the return of 43,649,491 128,634 On December 30, 2019, a dispute between the Company and its counsel regarding the GoFun matter, above, resulted in a filing, and subsequent settlement, of an action in the Supreme Court of the State of New York for the County of New York (Index No. 656396/2019). Pursuant to the settlement, prior counsel for the Company accepted previously-issued shares in 2016, as full payment for all legal work, expenses, costs, and other fees. On March 17, 2021, the Company filed an action against Pacific Technologies Group, Inc., Rollings Hills Oil and Gas Inc., Demand Brands, Inc., Innovativ Media Group, Inc. Tom Coleman, and Bruce Hannan, in the Supreme Court of the State of New York, County of New York (Index No. 651771/2021), alleging fraud, rescission and cancellation of a written instrument, unconscionability, breach of contract, breach of good faith and fair dealing, unjust enrichment, and civil conspiracy. The action stems from a stock purchase agreement entered into by the Company and Pacific Technologies Group, Inc. (then known as Demand Brands, Inc.) on October 16, 2018. On May 22, defendants filed a motion seeking additional time to answer. As of the date of this writing, no ruling on that motion has been entered. On August 16, 2021, the Company filed an action against David Wells, in the United States District Court for the Southern District of New York (Case 1:21-cv-06891) seeking injunctive relief and relinquishment of 150,000 shares held in the name of David Wells. As of the date of this writing, David Wells has appeared, through counsel, but has not yet filed an answer to the Company’s complaint. On August 24, 2021, the Company filed an application for a temporary restraining (“TRO”) order in the Superior Court of New Jersey, Chancery Division: Monmouth County (Docket No.: Mon-C-132-21) seeking to restrain Liberty Stock Transfer, Inc. from removing restrictive legends from 6,000,000 shares of Company stock held in the name of International Monetary, as well as from transferring said shares. The Court granted the TRO effective until September 28, 2021. On September 28, 2021, the Court declined to issue any further restraints. In the interim, on September 16, 2021, International Monetary filed an action against the Company in Clark County, Nevada (Case No: A-21-841175-B) alleging breach of contract and breach good faith and fair dealing, as well as a request for declaratory relief, and temporary restraining order and preliminary injunction. On September 30, 2021, the Company filed a notice of removal of the action to the United States District Court for the District of Nevada (Case 2:21-cv-01820), as well as a request for a temporary restraining order enjoining International Monetary from taking any action to remove the restrictive legend shares from Company shares held in its name. On October 14, 2021, International Monetary filed a motion to strike the petition for removal. As of the date of this writing, no ruling on that motion has been entered. | NOTE 8- COMMITMENTS AND CONTINGENCIES A) LEASES Global Tech Industries Group, Inc. currently does not lease, rent or own any property. B) LITIGATION On December 31, 2012, Global Tech and its new subsidiary, TTII Oil & Gas, Inc., a Delaware corporation, signed a binding asset purchase agreement with American Resource Technologies, Inc. (“ARUR”), a Kansas corporation, to acquire all the assets of ARUR for a purchase price of $ 513,538 4,668,530 0.11 75% 25% three 3,600,000 3,600,000 100,000 100,000 350,000 1,000,000 During March 2013, the Company was named in an action pertaining to the 75% 267,000 101,250 On February 3, 2017, the Company filed suit in Eastern District Federal Court New York against American Resource Technologies, Inc., (ARUR) and several directors and officers relating to the Chautauqua County Court Kansas decision nullifying the acquisition Agreement of ARUR. The Company has made several attempts to recover the shares of GTII stock paid to ARUR for the asset acquisition and the various costs and expenses expended by GTII in fulfillment of its obligations under the contract with ARUR. The failure of non-litigation attempts to resolve the matter resulted in filing an action for declaratory judgment in the US District Court for the Eastern District of New York, Docket No. 17-CV-0698. The case was subsequently withdrawn due to the close of ARUR operations. During 2020, the Company was successful in recalling the 4,668,530 On December 30, 2016, the Company executed a stock purchase agreement (the “Agreement”), which was signed and closed in Hong Kong, with GoFun Group, Ltd. through its wholly owned subsidiary Go F & B Holdings, Ltd. GoFun Group, Ltd. is a privately held company running a casual dining restaurant business, based in Hong Kong. Subsequent to the agreement being signed, GoFun Group failed to substantially perform under the agreement, including, but not limited to providing audited financials of its assets, making the ongoing payments called for in the agreement, along with other matters that led Global Tech to initiate litigation in the United States. Currently, Global Tech and GoFun are litigating the matter in the U.S District Court for the southern district of New York. The original acquisition agreement and rescission was recorded on the Company’s books in 2016, however the physical share certificates were not returned to the Company. During the last quarter 2019, the Company was able to secure, via preliminary settlement, the return of 43,649,491 128,634 On December 30, 2019, a dispute between the Company and its counsel regarding the GoFun matter, above, resulted in a filing, and subsequent settlement, of an action in the Supreme Court of the State of New York for the County of New York (Index No. 656396/2019). Pursuant to the settlement, prior counsel for the Company accepted previously-issued shares in 2016, as full payment for all legal work, expenses, costs, and other fees. C) EMPLOYMENT AGREEMENT Effective October 1, 2007, the Company entered into a two 250,000 1.2 two 500,000 During the year ended December 31, 2012, the Board of Directors approved the extension of this contract until December 31, 2013, with a salary of $1. Effective April 1, 2009, the Company entered into a three 127,500 180,000 Mrs. Griffin’s employment contract has been extended on December 31, 2012, until December 31, 2013, with a salary of $1. Mrs. |
MARKETABLE SECURITIES
MARKETABLE SECURITIES | 9 Months Ended | 12 Months Ended |
Sep. 30, 2021 | Dec. 31, 2020 | |
Investments, Debt and Equity Securities [Abstract] | ||
MARKETABLE SECURITIES | NOTE 3 - MARKETABLE SECURITIES The Company has acquired various shares of Marketable Securities over the past several years and engages in trading activities for its own account. The Company’s marketable securities are listed on various exchanges with readily determinable fair value per the guidance of ASC 321, “Investments – Equity Securities.” The fair value of these shares at September 30, 2021 and December 31, 2020 amounted to $ 195,000 and $ 31,000 , respectively. All realized and unrealized gains and losses are recorded in earnings. For the three months ended September 30, 2021, the Company recorded a loss of $ (185,000) which consisted of unrealized gains (losses) by marking to market, the value of the shares held. For the three months ended September 30, 2020, the Company recorded unrealized gains of $ 14,966 . For the nine months ended September 30, 2021, the Company recorded unrealized gains of $ 164,000 compared to unrealized losses of $ (901) for the nine months ended September 30, 2020. The Company does not hold any equity securities that do not have readily available fair values, therefore no impairment analysis or other methods to determine value are used. | NOTE 9 - MARKETABLE SECURITIES The Company has acquired various shares of Marketable Securities over the past several years and engages in trading activities for its own account. The Company’s marketable securities are listed on various exchanges with readily determinable fair value per the guidance of ASC 321, “Investments – Equity Securities.” The fair value of these shares on December 31, 2020, and 2019 amounted to $ 31,000 44,044 12,901 40 12,941 67,342 75,190 7,848 |
ASSET RETIREMENT OBLIGATION
ASSET RETIREMENT OBLIGATION | 12 Months Ended |
Dec. 31, 2020 | |
Asset Retirement Obligation Disclosure [Abstract] | |
ASSET RETIREMENT OBLIGATION | NOTE 10 - ASSET RETIREMENT OBLIGATION During 2013, the Company began the re-work project on various well associated with the Ownbey Oil and Gas Lease purchased on December 31, 2012. The Company will be required as part of the purchase of this lease to remediate the Ownbey property upon its abandonment of the lease. In accordance with FASB ASC 410, “Asset Retirement and Environmental Obligations,” the Company recognized the fair value of the liability for an asset retirement obligation in the amount of $ 101,250 SCHEDULE OF ASSET RETIREMENT OBLIGATION December 31, 2020 2019 Asset retirement obligation-beginning of year $ - $ 101,250 Liabilities incurred - - Accretion expense - - Rescission of agreement - (101,250 ) Asset retirement obligation-end of year $ - $ - |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 9 Months Ended | 12 Months Ended |
Sep. 30, 2021 | Dec. 31, 2020 | |
Subsequent Events [Abstract] | ||
SUBSEQUENT EVENTS | NOTE 11 – SUBSEQUENT EVENTS The Company has evaluated events subsequent to the balance sheet through the date the financial statements were issued and noted the following events requiring disclosure: On October 5, 2021, the Company signed a letter of intent with Classroom Salon (CS), to define the terms of an acquisition of all outstanding shares of CS. CS uses interfaces, workflows and proprietary algorithms, providing a tool to author, deploy, teach and assess school courses, seminars and other study groups and then integrate them with other learning platforms at any educational levels. | NOTE 11 - SUBSEQUENT EVENTS On February 26, 2021, the Company prepaid the Convertible Debenture before it’s due date by paying all principal, interest and penalties in the amount of $ 91,924 On February 28, 2021, the Company executed a final Stock Purchase Agreement wherein the Company acquired all the issued and outstanding stock of Gold Transactions International, Inc. (GTI) (a Utah Corporation), for the issuance of 6,000,000 6,000,000 There was no acquisition related cost incurred in acquiring GTI. GTI has assets of $ 5,044,610 246,958 4,797,652 nd 6,000,000 6,000,000 On March 15, 2021, the Company issued 3,000,000 3,000,000 st On March 21, 2021, the Company, signed a binding, letter agreement with Bronx Family Eye Care, Inc. (BFE), engaged in the business of full scope optometry at its four primary locations, three of which are in the Bronx, one of which is in Manhattan, New York, as well as at a fabrication facility in the Bronx. The two companies agreed to engage in a business combination such that BFE will become a wholly owned subsidiary of GTII, and the shareholders of BFE will acquire two million six hundred fifty thousand ( 2,650,000 There were no acquisition related costs incurred in acquiring BFE. Due to the acquisition occurring only 9 days before the Company’s filing deadline, the Company has not had a chance to review or audit the assets, liabilities and operating results of BFE, and the initial accounting of the BFE acquisition is incomplete as of the date of the Company’s 10-K filing. Therefore, disclosures related to the issuers recording of the acquisition, and related balance sheet and income statement disclosures cannot be made at this time. Because the acquisition of BFE occurred after the year end of the Company, no revenues or expenses have been included in the consolidated financial statements included herein. BFE is a currently operating company with revenues in excess of $ 1,000,000 The Company has evaluated events subsequent to the balance sheet through the date the financial statements were issued and noted no additional events requiring disclosure. |
CONDENSED FINANCIAL STATEMENTS
CONDENSED FINANCIAL STATEMENTS | 9 Months Ended |
Sep. 30, 2021 | |
Condensed Financial Statements | |
CONDENSED FINANCIAL STATEMENTS | NOTE 1 - CONDENSED FINANCIAL STATEMENTS A) CONSOLIDATION The accompanying consolidated financial statements have been prepared by GLOBAL TECH INDUSTRIES GROUP, INC. (“the Company”) without audit. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position at September 30, 2021, and the results of operations and cash flows for the three and nine months then ended, have been made. The accompanying unaudited condensed consolidated financial statements of the Company have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission (the “SEC”), including the instructions to Form 10-Q and Regulation S-X. Certain information and note disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”), have been condensed or omitted from these statements pursuant to such rules and regulations and, accordingly, they do not include all the information and notes necessary for comprehensive financial statements and should be read in conjunction with our audited consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2020. The results of operations for the period ended September 30, 2021 are not necessarily indicative of the operating results for the full year ended December 31, 2021. The accompanying consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries as disclosed in Note 2 below. All significant inter-company balances and transactions have been eliminated. B) GOING CONCERN The Company’s consolidated financial statements are prepared using generally accepted accounting principles in the United States of America applicable to a going concern which contemplates the realization of assets and liquidation of liabilities in the normal course of business. The Company has not yet established an ongoing source of revenues sufficient to cover its operating costs and allow it to continue as a going concern. The ability of the Company to continue as a going concern is dependent on the Company obtaining adequate capital to fund operating losses until it becomes profitable. If the Company is unable to obtain adequate capital, it could be forced to cease operations. These conditions raise substantial doubt regarding the Company’s ability to continue as a going concern. In order to continue as a going concern, the Company will need, among other things, additional capital resources. Management’s plan is to obtain such resources for the Company by obtaining capital from management and significant shareholders sufficient to meet its operating expenses and seeking equity and/or debt financing. The Company expects with the acquisitions of GTI, Bronx Family Eye Care, and My Retina, that these operations will help support the cashflow needs of the Company. Management also expects with the commencement of revenue generating operations from these subsidiaries, that the warrants issued to shareholders will be exercised in the near future, thus providing capital for the Company and its growth plans. However, management cannot provide any assurances that the Company will be successful in accomplishing any of its plans. The ability of the Company to continue as a going concern is dependent upon its ability to successfully accomplish the plans described in the preceding paragraph and eventually secure other sources of financing and attain profitable operations. The accompanying consolidated financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern. On March 11, 2020, the World Health Organization declared the outbreak of a coronavirus (COVID-19) a pandemic. As a result, economic uncertainties have arisen which have the potential to negatively impact the Company’s ability to raise funding from the markets. Other financial impacts could occur though such potential impacts are unknown at this time. GLOBAL TECH INDUSTRIES GROUP, INC. Notes to the Unaudited Condensed Consolidated Financial Statements September 30, 2021 |
LICENSES
LICENSES | 9 Months Ended |
Sep. 30, 2021 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
LICENSES | NOTE 5 LICENSES GOLD TRANSACTIONS NETWORK LICENSE On February 28, 2021, pursuant to a Stock Purchase Agreement (the “SPA”) between the Company and Gold Transactions International, Inc. (GTI), the Company assumed a License Agreement held by GTI. The Company has not accounted for the acquisition of the license due to a performance obligation that has not yet been met, but is disclosing the terms of the License due to the legal acquisition of the license. The license provides access to a joint venture of companies (the “Network”), that buys gold from artisan miners internationally, and provides transportation, assaying, refining and storage facilities in the DMCC, a free trade zone for commodities trading in Dubai, and then sells the refined gold to its customers. The License Agreement grants the Company the following: ● Access to the Network’s gold operations, to participate in the profits generated by the margin between the buy and sell prices, based on the % of funds advanced into the Network, ● an exclusive license to market and promote the gold buy/sell program in an attempt to increase the buying power of the Network. The term of the License is un-defined and perpetual. ● Reporting from the Network partners of gold transactions shared in, and the revenue generated on a monthly basis. Payments, however are quarterly to the Network partners. Pursuant to the SPA, 100 6,000,000 6,000,000 DIGITAL TRADING PLATFORM LICENSE On May 1, 2021, the Company entered an agreement with Alt 5 Sigma, Inc. (“Alt 5”), wherein Alt 5 licensed their Alt5Pro Digital Asset Platform to the Company and created “Beyond Blockchain”, a digital asset trading platform to be used by the Company and its shareholders and the public for trading digital assets. The Company paid $ 5,000 for the license and also pays a monthly hosting fee to Alt 5, which is expensed as incurred. The term of the license is for 12 months with an automatic renewal for an additional 12 months. The license will be amortized over the term of 24 months, using the straight line method. Amortization expensed for the nine months ended September 30, 2021 and 2020 is $ 1,042 0 SCHEDULE OF FINITE LIVED INTANGIBLE ASSETS September 30, 2021 December 31, 2020 License – Digital platform $ 5,000 $ 0 Total licensed assets 5,000 0 Accumulated Amortization (1,042 ) 0 Net licensed assets $ 3,958 $ 0 GLOBAL TECH INDUSTRIES GROUP, INC. Notes to the Unaudited Condensed Consolidated Financial Statements September 30, 2021 |
FINE ART
FINE ART | 9 Months Ended |
Sep. 30, 2021 | |
Fine Art | |
FINE ART | NOTE 6 – FINE ART On April 7, 2021, the Company executed a Contractor Agreement with Ronald Cavalier, an artist with galleries in Greenwich, CT, New York City, Nantucket Island and Palm Beach, FL. Pursuant to this agreement, Mr. Cavalier has assisted the Company in acquiring 2 35,940 On June 4, 2021, the Company purchased another piece of fine art, an Andy Warhol gelatin silver print of Bianca Jagger on a white horse taken by Warhol at the famed Studio 54 (the “Warhol Print”) for $ 31,905 |
SIGNIFICANT ACCOUNTING POLICI_2
SIGNIFICANT ACCOUNTING POLICIES (Policies) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2021 | Dec. 31, 2020 | |
Accounting Policies [Abstract] | ||
PRINCIPLES OF CONSOLIDATION | A) PRINCIPLES OF CONSOLIDATION The accompanying consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries, Ludicrous, Inc., TTI Strategic Acquisitions and Equity Group, Inc, TTII Oil & Gas, Inc., and GT International, Inc. All subsidiaries of the Company, other than TTI Strategic Acquisitions and Equity Group, Inc., currently have no financial activity. All significant inter-company balances and transactions have been eliminated. Because the performance obligations associated with the acquisitions of GTI, Bronx and My Retina have not yet been met, these subsidiaries are still contingent and have not been consolidated with the Company. | A) PRINCIPLES OF CONSOLIDATION The accompanying consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries, Ludicrous, Inc., TTI Strategic Acquisitions and Equity Group, Inc, TTII Oil & Gas, Inc., and G T International, Inc. All subsidiaries of the Company, other than TTI Strategic Acquisitions and Equity Group, Inc., currently have no financial activity. All significant inter-company balances and transactions have been eliminated. |
USE OF MANAGEMENT’S ESTIMATES | B) USE OF MANAGEMENT’S ESTIMATES The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reported period. Actual results could differ from those estimates. | B) USE OF MANAGEMENT’S ESTIMATES The preparation of financial statements in conformity with United States generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reported period. Actual results could differ from those estimates. These financial statements have material estimates for valuation of stock and option transactions. |
CASH EQUIVALENTS | C) CASH EQUIVALENTS The Company considers all highly liquid investments with an original maturity of three months or less to be cash equivalents. Cash and cash equivalents are maintained with major financial institutions in the U S. Deposits held with these banks at times exceed $ 250,000 of insurance provided on such deposits. The Company has not experienced any losses in such accounts and believes that it is not exposed to any significant credit risk on cash and cash equivalents. At September 30, 2021 and December 31, 2020, $ 45,083 and $ 0 excess cash balances existed, respectively. There were no cash equivalents at September 30, 2021 and December 31, 2020. | C) CASH EQUIVALENTS The Company considers all highly liquid investments with an original maturity of three months or less to be cash equivalents. Cash and cash equivalents are maintained with major financial institutions in the U S. Deposits held with these banks at times exceed $ 250,000 no |
FIXED ASSETS | D) FIXED ASSETS Property, plant and equipment are stated at cost. Depreciation is computed using the straight-line method over the estimated useful lives of the related assets, ranging from 3 7 | |
INCOME TAXES | D) INCOME TAXES The Company applies ASC 740 which requires the asset and liability method of accounting for income taxes. The asset and liability method require that the current or deferred tax consequences of all events recognized in the financial statements are measured by applying the provisions of enacted tax laws to determine the amount of taxes payable or refundable currently or in future years. Deferred tax assets are reviewed for recoverability and the Company records a valuation allowance to reduce its deferred tax assets when it is more likely than not that all or some portion of the deferred tax assets will not be recovered. ASC 740 requires recognition and measurement of uncertain tax positions using a “more-likely-than-not” approach, requiring the recognition and measurement of uncertain tax positions. Deferred taxes are provided on a liability method whereby deferred tax assets are recognized for deductible temporary differences and operating loss and tax credit carry forwards and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the reported amounts of assets and liabilities and their tax bases. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all the deferred tax assets will to be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment. | E) INCOME TAXES The Company follows ASC 740, “Income Taxes,”, which discusses recognition and measurement of uncertain tax positions using a “more-likely-than-not” approach, requiring the recognition and measurement of uncertain tax positions. Deferred taxes are provided on a liability method whereby deferred tax assets are recognized for deductible temporary differences and operating loss and tax credit carry forwards and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the reported amounts of assets and liabilities and their tax bases. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all the deferred tax assets will to be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment. |
REVENUE RECOGNITION | E) REVENUE RECOGNITION The Company had no revenues during the nine months ended September 30, 2021 and $8,500 of non-recurring revenue in 2020, however when revenues commence, the Company will recognize revenues in accordance with ASC 606, “Revenue from Contracts with Customers.” Revenue is recognized per our contract with our customers at a point of time when control of our products or services are transferred to our customers in an amount that reflects the consideration the Company expects to be entitled to in exchange for those products, and after all our performance obligations have been met. The Company currently has no consulting revenues with performance obligations of hours expended on various projects with our customers pursuant to underlying contracts. If we subsequently determine that collection from any customer is not reasonably assured, we record an allowance for doubtful accounts and bad debt expense for all that customer’s unpaid invoices and cease recognizing revenue for continued services provided until cash is received. GLOBAL TECH INDUSTRIES GROUP, INC. Notes to the Unaudited Condensed Consolidated Financial Statements September 30, 2021 | F) REVENUE RECOGNITION The Company had $ 8,500 0 |
STOCK-BASED COMPENSATION | F) STOCK-BASED COMPENSATION The Company accounts for stock-based compensation in accordance with the provisions of ASC 718. ASC 718 requires all share-based payments to employees, including grants of employee stock options, to be recognized in the financial statements based on the grant-date fair value of the award. That cost will be recognized over the period during which an employee is required to provide service in exchange for the reward- known as the requisite service period. No compensation cost is recognized for equity instruments for which employees do not render the requisite service. The grant-date fair value of employee share options and similar instruments are estimated using the Black Scholes option-pricing model adjusted for the unique characteristics of those instruments. Equity instruments issued to non-employees are recorded at their fair values as determined in accordance with ASC 718 as amended by ASU 2018-07. As such, the grant date is the measurement date of an award’s fair value. | G) STOCK-BASED COMPENSATION The Company accounts for stock-based compensation in accordance with the provisions of ASC 718, “Compensation – Stock Compensation.” ASC 718 requires all share-based payments to employees, including grants of employee stock options, to be recognized in the financial statements based on the grant-date fair value of the award. That cost will be recognized over the period during which an employee is required to provide service in exchange for the reward- known as the requisite service period. No compensation cost is recognized for equity instruments for which employees do not render the requisite service. The grant-date fair value of employee share options and similar instruments are estimated using the Black Scholes option-pricing model adjusted for the unique characteristics of those instruments. Equity instruments issued to non-employees are recorded at their fair values as determined in accordance with ASC 718 as amended by ASU 2018-07. As such, the grant date is the measurement date of an award’s fair value. |
INTANGIBLE ASSETS AND BUSINESS COMBINATIONS | H) INTANGIBLE ASSETS AND BUSINESS COMBINATIONS The Company follows ASC 805, “Business Combinations,” and ASC 350, “Intangibles - Goodwill and Other”. ASC 805 requires the use of the purchase method of accounting for any business combinations, and further clarifies the criteria to recognize intangible assets separately from goodwill. Under ASC 350, goodwill and indefinite−life intangible assets are reviewed for impairment annually. | |
FAIR VALUE OF FINANCIAL INSTRUMENTS | G) FAIR VALUE OF FINANCIAL INSTRUMENTS The Company follows ASC 820, “Fair Value Measurements.” ASC 820 defines fair value, establishes a three-level valuation hierarchy for disclosures of fair value measurement and enhances disclosure requirements for fair value measures. The three levels are defined as follows: Level 1 inputs to the valuation methodology are quoted prices (unadjusted) 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, 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 inputs to the valuation methodology are unobservable and significant to the fair measurement. The carrying amounts reported in the balance sheets for cash and cash equivalents, and current liabilities each qualify as financial instruments and are a reasonable estimate of fair value because of the short period of time between the origination of such instruments and their expected realization and their current market rate of interest. The carrying value of notes payable approximates fair value because negotiated terms and conditions are consistent with current market rates as of September 30, 2021 and December 31, 2020. Marketable securities are reported at the quoted and listed market rates of the securities held at the period end. GLOBAL TECH INDUSTRIES GROUP, INC. Notes to the Unaudited Condensed Consolidated Financial Statements September 30, 2021 The following table presents the Company’s marketable securities within the fair value hierarchy utilized to measure fair value on a recurring basis as of September 30, 2021 and December 31, 2020: SCHEDULE OF FAIR VALUE ASSETS AND LIABILITIES MEASURED ON RECURRING BASIS Level 1 Level 2 Level 3 Marketable Securities – September 30, 2021 $ 195,000 $ - 0 $ - 0 Marketable Securities – December 31, 2020 $ 31,000 $ - 0 $ - 0 | I) FAIR VALUE OF FINANCIAL INSTRUMENTS The Company follows ASC 820, “Fair Value Measurements,” defines fair value, establishes a three-level valuation hierarchy for disclosures of fair value measurement and enhances disclosure requirements for fair value measures. The three levels are defined as follows: [ ] Level 1 inputs to the valuation methodology are quoted prices (unadjusted) 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, 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 inputs to the valuation methodology are unobservable and significant to the fair measurement. The carrying amounts reported in the balance sheets for cash and cash equivalents, and current liabilities each qualify as financial instruments and are a reasonable estimate of fair value because of the short period of time between the origination of such instruments and their expected realization and their current market rate of interest. The carrying value of notes payable approximates fair value because negotiated terms and conditions are consistent with current market rates as of December 31, 2020, and 2019. Marketable securities are reported at the quoted and listed market rates of the securities held at the year end. The following table presents the Company’s Marketable securities within the fair value hierarchy utilized to measure fair value on a recurring basis as of December 31, 2020, and 2019: SCHEDULE OF FAIR VALUE ASSETS AND LIABILITIES MEASURED ON RECURRING BASIS Level 1 Level 2 Level 3 Marketable Securities – 2020 $ 31,000 $ -0- $ -0- Marketable Securities – 2019 $ 44,044 $ -0- $ -0- |
BASIC AND DILUTED LOSS PER SHARE | H) BASIC AND DILUTED LOSS PER SHARE The Company calculates earnings per share in accordance with ASC 260, “Earnings Per Share.” Basic loss per share is computed by dividing net income (loss) by the weighted-average number of shares of common stock outstanding during the period. Diluted earnings (loss) per share gives effect to dilutive convertible securities, options, warrants and other potential common stock outstanding during the period; only in periods in which such effect is dilutive. For September 30, 2021, there were 4,500,664 stock options outstanding, however their effects were anti-dilutive. For September 30, 2020, there were no potentially dilutive securities to consider in the fully diluted earnings per share calculation. SCHEDULE OF BASIC AND DILUTED PER SHARE 2021 2020 For the Three Months Ended September 30, 2021 2020 Loss (numerator) $ (2,768,613 ) $ (317,304 ) Shares (denominator) 235,247,771 205,377,721 Basic and diluted loss per share $ (0.01 ) $ (0.00 ) 2021 2020 For the Nine months Ended September 30, 2021 2020 Loss (numerator) $ (4,546,463 ) $ (954,788 ) Shares (denominator) 234,303,915 205,732,175 Basic and diluted loss per share $ (0.02 ) $ (0.00 ) | J) BASIC AND DILUTED EARNINGS (LOSS) PER SHARE The Company calculates earnings (loss) per share in accordance with ASC 260, “Earnings Per Share.” Basic earnings (loss) per share is computed by dividing net income (loss) by the weighted-average number of shares of common stock outstanding during the period. Diluted earnings (loss) per share gives effect to dilutive convertible securities, options, warrants and other potential common stock outstanding during the period; only in periods in which such effect is dilutive. For 2020 there were 4,500,664 no SCHEDULE OF BASIC AND DILUTED PER SHARE 2020 2019 For the Years Ended December 31, 2020 2019 Loss (numerator) $ (2,778,486 ) $ (1,428,835 ) Shares (denominator) 207,923,257 178,502,990 Basic and diluted loss per share $ (.01 ) $ (.01 ) |
RECENT ACCOUNTING PRONOUNCEMENTS | I) RECENT ACCOUNTING PRONOUNCEMENTS The Company has implemented all new accounting pronouncements that are in effect. These pronouncements did not have any material impact on the financial statements unless otherwise disclosed, and the Company does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations. | K) RECENT ACCOUNTING PRONOUNCEMENTS The Company has implemented all new accounting pronouncements that are in effect. These pronouncements did not have any material impact on the financial statements unless otherwise disclosed, and the Company does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations. |
Marketable Securities | J) Marketable Securities The Company purchases marketable securities and engages in trading activities for its own account. Securities that are held principally for resale in the near term are recorded at fair value with changes in fair value included in earnings. Interest and dividends are included in net Interest Income. GLOBAL TECH INDUSTRIES GROUP, INC. Notes to the Unaudited Condensed Consolidated Financial Statements September 30, 2021 | L) MARKETABLE SECURITIES The Company purchases marketable securities and engages in trading activities for its own account. Securities that are held principally for resale in the near term are recorded at fair value with changes in fair value included in earnings. Interest and dividends are included in net Interest Income. |
Concentrations | M) Concentrations The Company generated 100 |
SIGNIFICANT ACCOUNTING POLICI_3
SIGNIFICANT ACCOUNTING POLICIES (Tables) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2021 | Dec. 31, 2020 | |
Accounting Policies [Abstract] | ||
SCHEDULE OF FAIR VALUE ASSETS AND LIABILITIES MEASURED ON RECURRING BASIS | The following table presents the Company’s marketable securities within the fair value hierarchy utilized to measure fair value on a recurring basis as of September 30, 2021 and December 31, 2020: SCHEDULE OF FAIR VALUE ASSETS AND LIABILITIES MEASURED ON RECURRING BASIS Level 1 Level 2 Level 3 Marketable Securities – September 30, 2021 $ 195,000 $ - 0 $ - 0 Marketable Securities – December 31, 2020 $ 31,000 $ - 0 $ - 0 | The following table presents the Company’s Marketable securities within the fair value hierarchy utilized to measure fair value on a recurring basis as of December 31, 2020, and 2019: SCHEDULE OF FAIR VALUE ASSETS AND LIABILITIES MEASURED ON RECURRING BASIS Level 1 Level 2 Level 3 Marketable Securities – 2020 $ 31,000 $ -0- $ -0- Marketable Securities – 2019 $ 44,044 $ -0- $ -0- |
SCHEDULE OF BASIC AND DILUTED PER SHARE | SCHEDULE OF BASIC AND DILUTED PER SHARE 2021 2020 For the Three Months Ended September 30, 2021 2020 Loss (numerator) $ (2,768,613 ) $ (317,304 ) Shares (denominator) 235,247,771 205,377,721 Basic and diluted loss per share $ (0.01 ) $ (0.00 ) 2021 2020 For the Nine months Ended September 30, 2021 2020 Loss (numerator) $ (4,546,463 ) $ (954,788 ) Shares (denominator) 234,303,915 205,732,175 Basic and diluted loss per share $ (0.02 ) $ (0.00 ) | SCHEDULE OF BASIC AND DILUTED PER SHARE 2020 2019 For the Years Ended December 31, 2020 2019 Loss (numerator) $ (2,778,486 ) $ (1,428,835 ) Shares (denominator) 207,923,257 178,502,990 Basic and diluted loss per share $ (.01 ) $ (.01 ) |
RELATED PARTY TRANSACTIONS (Tab
RELATED PARTY TRANSACTIONS (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Related Party Transactions [Abstract] | |
SCHEDULE OF SHARES AND OPTIONS ISSUED FOR DEBT TO RELATED PARTIES | SCHEDULE OF SHARES AND OPTIONS ISSUED FOR DEBT TO RELATED PARTIES Stock Options Gain Total Notes payable $ 387,674 $ 339,952 $ 2,812,779 $ 3,540,405 Accrued interest 47,561 41,706 345,078 434,345 Accrued wages 74,460 65,295 540,245 680,000 Accounts payable 982 860 7,114 8,956 Totals $ 510,677 $ 447,813 $ 3,705,216 $ 4,663,706 |
SCHEDULE OF NOTES PAYABLE RELATED PARTY | (b) Additional detail to all Notes Payable-Related Party is as follows: SCHEDULE OF NOTES PAYABLE RELATED PARTY 2020 2019 Interest Interest Expense Principal Principal Rate 12/31/2020 12/31/2019 Maturity $ - $ 2,016,672 5.00 % $ 75,265 $ - 7/15/21 - 563,000 5.00 % 21,113 - 7/15/21 - 409,920 5.00 % 15,372 20,496 7/15/21 - 11,125 5.00 % 417 556 7/15/21 - 200,000 5.00 % 7,500 10,000 7/15/21 - 6,670 5.00 % 249 334 7/15/21 - 19,000 8.00 % 1,140 1,520 7/15/21 - 31,000 6.00 % 1,170 1,560 7/15/21 - 31,500 6.00 % 1,419 1,892 7/15/21 - 34,800 6.00 % 1,566 2,088 7/15/21 - 5,000 6.00 % 225 300 7/15/21 - 72,076 6.00 % 3,600 4,800 7/15/21 - - 6.00 % 2,214 2,952 N/A - - 6.00 % 113 150 N/A - 83,877 6.00 % 1,005 1,340 7/15/21 - 14,000 6.00 % 630 840 7/15/21 - 24,000 6.00 % 1,080 1,440 7/15/21 - 5,000 6.00 % 225 300 7/15/21 - 12,765 6.00 % 573 - 7/15/21 $ 0 $ 3,540,405 $ 134,876 $ 50,568 |
FIXED ASSETS (Tables)
FIXED ASSETS (Tables) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2021 | Dec. 31, 2020 | |
Property, Plant and Equipment [Abstract] | ||
SCHEDULE OF FIXED ASSETS | Fixed assets consist of the following: SCHEDULE OF FIXED ASSETS September 30, 2021 December 31, 2020 Computer equipment $ 3,213 $ 3,213 Total fixed assets 3,213 3,213 Accumulated Depreciation (1,070 ) (267 ) Net fixed assets $ 2,143 $ 2,946 | Fixed assets consist of the following: SCHEDULE OF FIXED ASSETS 2020 2019 Computer equipment $ 3,213 $ 134,896 Office equipment - 22,600 Telephone equipment - 12,900 Total fixed assets 3,213 170,396 Accumulated Depreciation (267 ) (170,396 ) Net fixed assets $ 2,946 $ - |
NOTES PAYABLE (Tables)
NOTES PAYABLE (Tables) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2021 | Dec. 31, 2020 | |
Debt Disclosure [Abstract] | ||
SCHEDULE OF NOTES PAYABLE | (b) Additional detail to all Notes Payable in Default is as follows: SCHEDULE OF NOTES PAYABLE September 30, December 31, Interest Interest Expense Principal Principal Rate 9/30/2021 9/30/2020 Maturity $ 32,960 32,960 5.00 % 1,236 1,236 10/5/18 32,746 32,746 5.00 % 1,227 1,227 10/5/18 5,000 5,000 6.00 % 225 225 10/5/18 100,000 100,000 5.00 % 3,750 3,750 10/5/18 7,000 7,000 6.00 % 315 315 10/5/18 388,376 388,376 5.00 % 14,565 14,565 10/5/18 192,000 192,000 0 % 10,080 10,080 10/5/18 18,000 18,000 6.00 % 810 810 9/1/2002 30,000 30,000 6.00 % 1,350 1,350 9/12/2002 25,000 25,000 5.00 % 939 939 8/31/2000 40,000 40,000 7.00 % 2,100 2,100 7/10/2002 $ 871,082 $ 871,082 $ 36,597 $ 36,597 September 30, December 31, Interest Interest Expense Principal Principal Rate 9/30/2021 9/30/2020 Maturity $ 100,000 0 5.00 % 2,170 0 7/20/22 100,000 0 5.00 % 1,658 0 8/6/22 200,000 0 3,828 0 | (b) Additional detail to all Notes Payable in Default is as follows: SCHEDULE OF NOTES PAYABLE 2020 2019 Interest Interest Expense Principal Principal Rate 12/31/2020 12/31/2019 Maturity $ 32,960 32,960 5.00 % 1,649 1,648 10/5/18 32,746 32,746 5.00 % 1,637 1,636 10/5/18 5,000 5,000 6.00 % 300 300 10/5/18 100,000 100,000 5.00 % 5,000 5,000 10/5/18 7,000 7,000 6.00 % 420 420 10/5/18 388,376 388,376 5.00 % 19,420 19,419 10/5/18 192,000 192,000 0 % 13,440 13,440 10/5/18 18,000 18,000 6.00 % 1,080 1,080 9/1/2002 30,000 30,000 6.00 % 1,800 1,800 9/12/2002 25,000 25,000 5.00 % 1,250 1,250 8/31/2000 40,000 40,000 7.00 % 2,800 2,800 7/10/2002 $ 871,082 $ 871,082 $ 48,796 $ 48,793 |
INCOME TAXES (Tables)
INCOME TAXES (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Income Tax Disclosure [Abstract] | |
SCHEDULE OF DEFERRED TAX ASSETS | Deferred tax assets and the valuation account are as follows: SCHEDULE OF DEFERRED TAX ASSETS 2020 2019 Deferred tax assets: NOL carryover $ 3,508,211 $ 3,354,581 Valuation allowance (3,508,211 ) (3,354,581 ) Net deferred tax asset $ - $ - |
SCHEDULE OF COMPONENTS OF INCOME TAX EXPENSE | The components of income tax expense are as follows: SCHEDULE OF COMPONENTS OF INCOME TAX EXPENSE 2020 2019 Book loss $ (583,482 ) $ (300,055 ) Stock based compensation 427,056 203,606 Non-deductible expenses 87 1,352 Unrealized/Realized gains or losses on Securities (net) 2,709 1,642 Change in NOL valuation allowance 153,630 93,455 Income tax expense benefit $ - $ - |
SCHEDULE OF RECONCILIATION OF BEGINNING AND ENDING OF UNRECOGNIZED TAX BENEFITS | A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows: SCHEDULE OF RECONCILIATION OF BEGINNING AND ENDING OF UNRECOGNIZED TAX BENEFITS December 31, 2020 2019 Beginning balance $ 3,354,581 $ 3,261,126 Additions based on tax positions related to current year 153,630 93,455 Additions for tax positions of prior years - - Reductions for tax positions of prior years - - Reductions in benefit due to income tax expense - - Ending balance $ 3,508,211 $ 3,354,581 |
STOCKHOLDERS_ EQUITY (DEFICIT)
STOCKHOLDERS’ EQUITY (DEFICIT) (Tables) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2021 | Dec. 31, 2020 | |
Equity [Abstract] | ||
SCHEDULE OF STOCK OPTION ISSUANCE OF FAIR VALUE ASSUMPTIONS | SCHEDULE OF STOCK OPTION ISSUANCE OF FAIR VALUE ASSUMPTIONS Assumptions: 2020 Assumptions applicable to stock options issued Risk-free interest rate 3 % Expected lives (in years) 2 Expected stock volatility 72 % Dividend yield - | SCHEDULE OF STOCK OPTION ISSUANCE OF FAIR VALUE ASSUMPTIONS Assumptions: 2020 2019 Assumptions applicable to stock options issued Risk-free interest rate 3 % - Expected lives (in years) 2 - Expected stock volatility 72 % - Dividend yield - - |
SCHEDULE OF STOCK OPTION | Stock option transactions are as follows: SCHEDULE OF STOCK OPTION Weighted Weighted Average Average Aggregate Exercise Remaining Intrinsic Shares Price Term Value Outstanding at January 1, 2020 - $ - - $ - Granted 4,500,664 .01 2 427,563 Exercised - - - - Forfeited - - - - Outstanding at December 31,2020 4,500,664 $ .01 2 $ 427,563 Granted - - - - Exercised - - - - Forfeited - - - - Outstanding at September 30, 2021 4,500,664 $ .01 1.25 $ 427,563 | Stock option transactions are as follows: SCHEDULE OF STOCK OPTION Weighted Weighted Average Average Aggregate Exercise Remaining Intrinsic Shares Price Term Value Outstanding on January 1, 2019 - $ - - $ - Granted - - - Exercised - - - Forfeited - - - Outstanding on December 31,2019 - $ - - $ - Granted 4,500,664 $ .01 2 $ 427,563 Exercised - - - Forfeited - - - Outstanding on December 31, 2020 4,500,664 $ .01 2 $ 427,563 |
SCHEDULE OF WARRANTS ISSUANCE OF FAIR VALUE ASSUMPTIONS | SCHEDULE OF WARRANTS ISSUANCE OF FAIR VALUE ASSUMPTIONS 2021 Warrants Assumptions: Assumptions applicable to stock options issued Risk-free interest rate .25 Expected lives (in years) 2 Expected stock volatility 266 Dividend yield - | |
SCHEDULE OF WARRANTS | Warrant transactions are as follows: SCHEDULE OF WARRANTS Weighted Weighted Average Average Aggregate Exercise Remaining Intrinsic Shares Price Term Value Outstanding at January 1, 2020 - $ - - $ - Granted - - - - Exercised - - - - Forfeited - - - - Outstanding at December 31, 2020 - $ - - $ - Granted 23,364,803 2.75 2.0 $ 57,689,800 Exercised - - - - Forfeited - - - - Outstanding at September 30, 2021 23,364,803 $ 2.75 1.50 $ 57,689,800 |
ASSET RETIREMENT OBLIGATION (Ta
ASSET RETIREMENT OBLIGATION (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Asset Retirement Obligation Disclosure [Abstract] | |
SCHEDULE OF ASSET RETIREMENT OBLIGATION | SCHEDULE OF ASSET RETIREMENT OBLIGATION December 31, 2020 2019 Asset retirement obligation-beginning of year $ - $ 101,250 Liabilities incurred - - Accretion expense - - Rescission of agreement - (101,250 ) Asset retirement obligation-end of year $ - $ - |
LICENSES (Tables)
LICENSES (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
SCHEDULE OF FINITE LIVED INTANGIBLE ASSETS | SCHEDULE OF FINITE LIVED INTANGIBLE ASSETS September 30, 2021 December 31, 2020 License – Digital platform $ 5,000 $ 0 Total licensed assets 5,000 0 Accumulated Amortization (1,042 ) 0 Net licensed assets $ 3,958 $ 0 |
NATURE OF OPERATIONS (Details N
NATURE OF OPERATIONS (Details Narrative) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||||
Sep. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||||||||||
Net loss | $ 2,768,613 | $ 1,102,108 | $ 675,742 | $ 317,304 | $ 352,638 | $ 284,846 | $ 4,546,463 | $ 954,788 | $ 2,778,486 | $ 1,428,835 |
Accumulated deficit | $ 232,639,452 | 232,639,452 | 170,403,189 | 167,624,703 | ||||||
Working capital | 1,777,125 | 2,166,033 | ||||||||
Net cash used in operating activities | $ 224,121 | $ 105,089 | $ 173,399 | $ 223,597 |
SCHEDULE OF FAIR VALUE ASSETS A
SCHEDULE OF FAIR VALUE ASSETS AND LIABILITIES MEASURED ON RECURRING BASIS (Details) - USD ($) | Sep. 30, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Fair Value, Inputs, Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Marketable Securities | $ 31,000 | $ 44,044 | |
Marketable Securities | $ 195,000 | 31,000 | |
Fair Value, Inputs, Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Marketable Securities | 0 | ||
Marketable Securities | 0 | 0 | |
Fair Value, Inputs, Level 3 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Marketable Securities | 0 | ||
Marketable Securities | $ 0 | $ 0 |
SCHEDULE OF BASIC AND DILUTED P
SCHEDULE OF BASIC AND DILUTED PER SHARE (Details) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||||
Sep. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | |
Accounting Policies [Abstract] | ||||||||||
Loss (numerator) | $ (2,768,613) | $ (1,102,108) | $ (675,742) | $ (317,304) | $ (352,638) | $ (284,846) | $ (4,546,463) | $ (954,788) | $ (2,778,486) | $ (1,428,835) |
Shares (denominator) | 235,247,771 | 205,377,721 | 234,303,915 | 205,732,175 | 207,923,257 | 178,502,990 | ||||
Basic and diluted loss per share | $ (0.01) | $ 0 | $ (0.02) | $ 0 | $ (0.01) | $ (0.01) |
SIGNIFICANT ACCOUNTING POLICI_4
SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | |
Product Information [Line Items] | ||||||
Deposits held with banks | $ 250,000 | $ 250,000 | $ 250,000 | |||
Cash equivalents | 0 | $ 0 | ||||
Revenue | $ 8,500 | $ 8,500 | $ 8,500 | |||
Common stock equivalent shares excluded from calculation of anti-dilutive effect | 4,500,664 | 0 | ||||
Cash | $ 45,083 | $ 45,083 | $ 0 | |||
Revenue from Contract with Customer Benchmark [Member] | Customer Concentration Risk [Member] | ||||||
Product Information [Line Items] | ||||||
Concentration risk, percentage | 100.00% | |||||
Consulting Services [Member] | ||||||
Product Information [Line Items] | ||||||
Revenue | $ 8,500 | $ 0 | ||||
Property, Plant and Equipment [Member] | Minimum [Member] | ||||||
Product Information [Line Items] | ||||||
Estimated useful lives | 3 years | |||||
Property, Plant and Equipment [Member] | Maximum [Member] | ||||||
Product Information [Line Items] | ||||||
Estimated useful lives | 7 years |
SCHEDULE OF SHARES AND OPTIONS
SCHEDULE OF SHARES AND OPTIONS ISSUED FOR DEBT TO RELATED PARTIES (Details) | 12 Months Ended |
Dec. 31, 2020USD ($) | |
Short-term Debt [Line Items] | |
Stock value | $ 510,677 |
Options value | 447,813 |
Gain | 3,705,216 |
Total | 4,663,706 |
Notes Payable [Member] | |
Short-term Debt [Line Items] | |
Stock value | 387,674 |
Options value | 339,952 |
Gain | 2,812,779 |
Total | 3,540,405 |
Accrued Interest [Member] | |
Short-term Debt [Line Items] | |
Stock value | 47,561 |
Options value | 41,706 |
Gain | 345,078 |
Total | 434,345 |
Accrued Wages [Member] | |
Short-term Debt [Line Items] | |
Stock value | 74,460 |
Options value | 65,295 |
Gain | 540,245 |
Total | 680,000 |
Accounts Payable [Member] | |
Short-term Debt [Line Items] | |
Stock value | 982 |
Options value | 860 |
Gain | 7,114 |
Total | $ 8,956 |
SCHEDULE OF NOTES PAYABLE RELAT
SCHEDULE OF NOTES PAYABLE RELATED PARTY (Details) - USD ($) | Jun. 26, 2013 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | Dec. 31, 2019 |
Short-term Debt [Line Items] | |||||
Principal | $ 3,540,405 | ||||
Year-to-Date Interest Rate | 5.00% | 500.00% | 500.00% | ||
Interest Expense | $ 36,597 | $ 36,597 | $ 48,796 | 48,793 | |
Maturity | Oct. 5, 2019 | Aug. 6, 2022 | |||
Notes Payable Related Party One [Member] | |||||
Short-term Debt [Line Items] | |||||
Principal | $ 2,016,672 | ||||
Year-to-Date Interest Rate | 5.00% | 5.00% | |||
Interest Expense | $ 75,265 | ||||
Maturity | Jul. 15, 2021 | ||||
Notes Payable Related Party Two [Member] | |||||
Short-term Debt [Line Items] | |||||
Principal | $ 563,000 | ||||
Year-to-Date Interest Rate | 5.00% | 5.00% | |||
Interest Expense | $ 21,113 | ||||
Maturity | Jul. 15, 2021 | ||||
Notes Payable Related Party Three [Member] | |||||
Short-term Debt [Line Items] | |||||
Principal | $ 409,920 | ||||
Year-to-Date Interest Rate | 5.00% | 5.00% | |||
Interest Expense | $ 15,372 | $ 20,496 | |||
Maturity | Jul. 15, 2021 | ||||
Notes Payable Related Party Four [Member] | |||||
Short-term Debt [Line Items] | |||||
Principal | $ 11,125 | ||||
Year-to-Date Interest Rate | 5.00% | 5.00% | |||
Interest Expense | $ 417 | $ 556 | |||
Maturity | Jul. 15, 2021 | Jul. 15, 2021 | |||
Notes Payable Related Party Five [Member] | |||||
Short-term Debt [Line Items] | |||||
Principal | $ 200,000 | ||||
Year-to-Date Interest Rate | 5.00% | 5.00% | |||
Interest Expense | $ 7,500 | $ 10,000 | |||
Maturity | Jul. 15, 2021 | Jul. 15, 2021 | |||
Notes Payable Related Party Six [Member] | |||||
Short-term Debt [Line Items] | |||||
Principal | $ 6,670 | ||||
Year-to-Date Interest Rate | 5.00% | 5.00% | |||
Interest Expense | $ 249 | $ 334 | |||
Maturity | Jul. 15, 2021 | Jul. 15, 2021 | |||
Notes Payable Related Party Seven [Member] | |||||
Short-term Debt [Line Items] | |||||
Principal | $ 19,000 | ||||
Year-to-Date Interest Rate | 8.00% | 8.00% | |||
Interest Expense | $ 1,140 | $ 1,520 | |||
Maturity | Jul. 15, 2021 | Jul. 15, 2021 | |||
Notes Payable Related Party Eight [Member] | |||||
Short-term Debt [Line Items] | |||||
Principal | |||||
Year-to-Date Interest Rate | 6.00% | 6.00% | |||
Interest Expense | $ 1,170 | $ 1,560 | |||
Maturity | Jul. 15, 2021 | Jul. 15, 2021 | |||
Notes Payable Related Party Nine [Member] | |||||
Short-term Debt [Line Items] | |||||
Principal | $ 31,500 | ||||
Year-to-Date Interest Rate | 6.00% | 6.00% | |||
Interest Expense | $ 1,419 | $ 1,892 | |||
Maturity | Jul. 15, 2021 | Jul. 15, 2021 | |||
Notes Payable Related Party Ten [Member] | |||||
Short-term Debt [Line Items] | |||||
Principal | $ 34,800 | ||||
Year-to-Date Interest Rate | 6.00% | 6.00% | |||
Interest Expense | $ 1,566 | $ 2,088 | |||
Maturity | Jul. 15, 2021 | Jul. 15, 2021 | |||
Notes Payable Related Party Eleven [Member] | |||||
Short-term Debt [Line Items] | |||||
Principal | $ 5,000 | ||||
Year-to-Date Interest Rate | 6.00% | 6.00% | |||
Interest Expense | $ 225 | $ 300 | |||
Maturity | Jul. 15, 2021 | Jul. 15, 2021 | |||
Notes Payable Related Party Twelve [Member] | |||||
Short-term Debt [Line Items] | |||||
Principal | $ 72,076 | ||||
Year-to-Date Interest Rate | 6.00% | 6.00% | |||
Interest Expense | $ 3,600 | $ 4,800 | |||
Maturity | Jul. 15, 2021 | Jul. 15, 2021 | |||
Notes Payable Related Party Thirteen [Member] | |||||
Short-term Debt [Line Items] | |||||
Principal | |||||
Year-to-Date Interest Rate | 6.00% | 6.00% | |||
Interest Expense | $ 2,214 | $ 2,952 | |||
Notes Payable Related Party Fourteen [Member] | |||||
Short-term Debt [Line Items] | |||||
Principal | |||||
Year-to-Date Interest Rate | 6.00% | 6.00% | |||
Interest Expense | $ 113 | $ 150 | |||
Notes Payable Related Party Fifteen [Member] | |||||
Short-term Debt [Line Items] | |||||
Principal | $ 83,877 | ||||
Year-to-Date Interest Rate | 6.00% | 6.00% | |||
Interest Expense | $ 1,005 | $ 1,340 | |||
Maturity | Jul. 15, 2021 | Jul. 15, 2021 | |||
Notes Payable Related Party Sixteen [Member] | |||||
Short-term Debt [Line Items] | |||||
Principal | $ 14,000 | ||||
Year-to-Date Interest Rate | 6.00% | 6.00% | |||
Interest Expense | $ 630 | $ 840 | |||
Maturity | Jul. 15, 2021 | Jul. 15, 2021 | |||
Notes Payable Related Party Seventeen [Member] | |||||
Short-term Debt [Line Items] | |||||
Principal | $ 24,000 | ||||
Year-to-Date Interest Rate | 6.00% | 6.00% | |||
Interest Expense | $ 1,080 | $ 1,440 | |||
Maturity | Jul. 15, 2021 | Jul. 15, 2021 | |||
Notes Payable Related Party Eighteen [Member] | |||||
Short-term Debt [Line Items] | |||||
Principal | $ 5,000 | ||||
Year-to-Date Interest Rate | 6.00% | 6.00% | |||
Interest Expense | $ 225 | $ 300 | |||
Maturity | Jul. 15, 2021 | Jul. 15, 2021 | |||
Notes Payable Related Party Nineteen [Member] | |||||
Short-term Debt [Line Items] | |||||
Principal | $ 12,765 | ||||
Year-to-Date Interest Rate | 6.00% | 6.00% | |||
Interest Expense | $ 573 | ||||
Maturity | Jul. 15, 2021 | Jul. 15, 2021 | |||
Notes Payable Related Party [Member] | |||||
Short-term Debt [Line Items] | |||||
Interest Expense | $ 134,876 | $ 50,568 |
RELATED PARTY TRANSACTIONS (Det
RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($) | Aug. 06, 2021 | Jul. 20, 2021 | Dec. 19, 2020 | Dec. 30, 2019 | Jan. 22, 2016 | Oct. 20, 2015 | Aug. 19, 2015 | Jul. 17, 2015 | Jun. 15, 2015 | Jun. 08, 2015 | May 06, 2015 | Apr. 21, 2015 | Feb. 11, 2015 | Dec. 23, 2014 | Oct. 10, 2014 | Aug. 26, 2014 | Jul. 28, 2014 | Jul. 18, 2014 | Jun. 06, 2014 | May 19, 2014 | Apr. 24, 2014 | Apr. 17, 2014 | Apr. 07, 2014 | Jan. 22, 2014 | Jan. 02, 2014 | Dec. 13, 2013 | Dec. 02, 2013 | Nov. 22, 2013 | Nov. 20, 2013 | Sep. 13, 2013 | Aug. 26, 2013 | Aug. 18, 2013 | Jul. 30, 2013 | Jul. 24, 2013 | Jul. 23, 2013 | Jul. 17, 2013 | Jul. 12, 2013 | Jul. 03, 2013 | Jun. 26, 2013 | Jun. 21, 2013 | Jun. 14, 2013 | May 24, 2013 | May 15, 2013 | Apr. 30, 2013 | Apr. 22, 2013 | Mar. 06, 2013 | Feb. 28, 2013 | Dec. 13, 2012 | Dec. 30, 2019 | Jan. 21, 2014 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 27, 2009 |
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance due to related parties | $ 3,540,405 | $ 0 | $ 3,540,405 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 434,345 | 0 | 298,796 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Cash | $ 45,083 | 0 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt due date | Oct. 5, 2019 | Aug. 6, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest and accrued wages | 510,677 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Notes payables | $ 100,000 | $ 100,000 | $ 388,376 | $ 100,000 | $ 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest rate per annum | 5.00% | 500.00% | 500.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt term | 12 months | 12 months | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Execution amount paid | $ 186,069 | $ 0 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Money loaned to company by related party | 160,439 | 104,981 | $ 177,513 | 108,192 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Repayment of related party loans | 186,069 | 68,000 | 62,591 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Due to Related Parties, Current | 83,883 | 109,513 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Director [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Due to officers | 109,513 | 0 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Officers [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Wages | 465,000 | $ 510,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued wages | $ 465,000 | 0 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Notes Payable [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 345,663 | 310,307 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Notes payables | $ 292,860 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest rate per annum | 5.00% | 5.00% | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Due to Related Parties, Current | 0 | 298,796 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Notes Payable [Member] | Trust and Shareholder [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt due date | Jul. 15, 2021 | Jul. 15, 2021 | Jul. 15, 2021 | Jul. 15, 2021 | Jul. 15, 2021 | Jul. 15, 2021 | Jul. 15, 2021 | Jul. 15, 2021 | Jul. 15, 2021 | ||||||||||||||||||||||||||||||||||||||||||||||
Notes payables | $ 12,765 | $ 24,000 | $ 24,000 | $ 24,000 | $ 24,000 | $ 24,000 | $ 14,000 | $ 83,877 | $ 80,000 | $ 80,000 | $ 80,000 | $ 80,000 | $ 80,000 | $ 83,877 | $ 83,877 | $ 83,877 | $ 5,000 | $ 12,765 | |||||||||||||||||||||||||||||||||||||
Accrued interest rate per annum | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% | |||||||||||||||||||||||||||||||||||||
Debt term | 8 months | 8 months | 8 months | 8 months | 8 months | 8 months | 8 months | 8 months | |||||||||||||||||||||||||||||||||||||||||||||||
Notes Payable Related Party One [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance due to related parties | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | $ 0 | $ 12,137 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt due date | Jul. 15, 2021 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest rate per annum | 5.00% | 5.00% | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Notes Payable Related Party Two [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance due to related parties | $ 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | $ 0 | $ 10,617 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt due date | Jul. 15, 2021 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest rate per annum | 5.00% | 5.00% | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Notes Payable Related Party Three [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance due to related parties | $ 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | $ 0 | $ 9,471 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt due date | Jul. 15, 2021 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest rate per annum | 5.00% | 5.00% | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Notes Payable Related Party Four [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance due to related parties | $ 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | $ 0 | $ 2,050 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt due date | Jul. 15, 2021 | Jul. 15, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest rate per annum | 5.00% | 5.00% | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Notes Payable Related Party Five [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance due to related parties | $ 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | $ 0 | $ 0 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt due date | Jul. 15, 2021 | Jul. 15, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Notes payable related party | $ 72,076 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest rate per annum | 5.00% | 5.00% | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Execution amount paid | $ 7,924 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Notes Payable Related Party Eight [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance due to related parties | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | $ 0 | $ 8,778 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt due date | Jul. 15, 2021 | Jul. 15, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest rate per annum | 6.00% | 6.00% | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Notes Payable Related Party Nine [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance due to related parties | $ 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | $ 0 | $ 4,989 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt due date | Jul. 15, 2021 | Jul. 15, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest rate per annum | 6.00% | 6.00% | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Notes Payable One [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt due date | Oct. 5, 2018 | Oct. 5, 2018 | Oct. 5, 2018 | Oct. 5, 2018 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest rate per annum | 5.00% | 5.00% | 5.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Notes Payable One [Member] | Trust and Shareholder [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt due date | Jul. 15, 2021 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Notes payables | $ 5,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest rate per annum | 6.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt term | 8 months | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Notes Payable Related Party Ten [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance due to related parties | $ 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | $ 0 | $ 8,448 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt due date | Jul. 15, 2021 | Jul. 15, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest rate per annum | 6.00% | 6.00% | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Notes Payable Related Party Eleven [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance due to related parties | $ 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | $ 0 | $ 1,567 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt due date | Jul. 15, 2021 | Jul. 15, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest rate per annum | 6.00% | 6.00% | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Notes Payable Related Party Twelve [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance due to related parties | $ 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | $ 0 | $ 0 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt due date | Jul. 15, 2021 | Jul. 15, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest rate per annum | 6.00% | 6.00% | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Chief Executive Officer [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance due to related parties | $ 0 | $ 2,437,717 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 0 | 163,254 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Cash | $ 2,016,672 | $ 2,016,672 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Notes payable bearing interest rate | 5.00% | 5.00% | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt due date | Jul. 15, 2021 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest and accrued wages | $ 3,192,385 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Due to officers | $ 400,223 | $ 400,223 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Money loaned to company by related party | 177,513 | 108,192 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Repayment of related party loans | 68,000 | 62,591 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
President [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance due to related parties | 0 | 769,670 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | 0 | 67,168 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Notes payable bearing interest rate | 5.00% | 5.00% | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt due date | Jul. 15, 2021 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest and accrued wages | $ 1,045,700 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Notes payable related party | $ 563,000 | $ 563,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Individual And Board [Member] | Notes Payable [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt due date | Jul. 15, 2021 | Jul. 15, 2021 | Jul. 15, 2021 | Jul. 15, 2021 | Jul. 15, 2021 | Jul. 15, 2021 | Jul. 15, 2021 | Jul. 15, 2021 | Jul. 15, 2021 | Jul. 15, 2021 | Jul. 15, 2021 | Jul. 15, 2021 | Jul. 15, 2021 | Jul. 15, 2021 | Jul. 15, 2021 | Jul. 15, 2021 | Jul. 15, 2021 | Jul. 15, 2021 | Jul. 15, 2021 | Jul. 15, 2021 | Jul. 15, 2021 | Jul. 15, 2021 | Jul. 15, 2021 | Jul. 15, 2021 | Jul. 15, 2021 | Jul. 15, 2021 | Jul. 15, 2021 | Jul. 15, 2021 | Jul. 15, 2021 | ||||||||||||||||||||||||||
Notes payables | $ 34,800 | $ 34,800 | $ 34,800 | $ 34,800 | $ 34,800 | $ 34,800 | $ 34,800 | $ 34,800 | $ 34,800 | $ 31,500 | $ 31,500 | $ 31,500 | $ 31,500 | $ 31,500 | $ 31,500 | $ 31,000 | $ 31,000 | $ 31,000 | $ 31,000 | $ 31,000 | $ 31,000 | $ 31,000 | $ 31,000 | $ 31,000 | $ 31,000 | $ 31,000 | $ 19,000 | $ 31,500 | |||||||||||||||||||||||||||
Accrued interest rate per annum | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% | 8.00% | 6.00% | |||||||||||||||||||||||||||
Debt term | 8 months | 8 months | 8 months | 8 months | 8 months | 8 months | 8 months | 8 months | 8 months | 8 months | 8 months | 8 months | 8 months | 8 months | 8 months | 8 months | 8 months | 8 months | 8 months | 8 months | 8 months | 8 months | 8 months | 8 months | 8 months | 8 months | 8 months | 8 months | 8 months | 8 months | 8 months | ||||||||||||||||||||||||
Individual And Board [Member] | Notes Payable Related Party [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance due to related parties | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | $ 0 | $ 10,319 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Payment Arrangement, Option [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share conversion | 4,500,664 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Payment Arrangement, Option [Member] | Notes Payable Related Party One [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share conversion | 38,683 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Payment Arrangement, Option [Member] | Notes Payable Related Party Two [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share conversion | 37,818 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Payment Arrangement, Option [Member] | Notes Payable Related Party Three [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share conversion | 39,817 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Payment Arrangement, Option [Member] | Notes Payable Related Party Four [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share conversion | 6,320 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Payment Arrangement, Option [Member] | Notes Payable Related Party Five [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share conversion | 65,427 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Payment Arrangement, Option [Member] | Notes Payable Related Party Eight [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share conversion | 83,765 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Payment Arrangement, Option [Member] | Notes Payable Related Party Nine [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share conversion | 17,042 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Payment Arrangement, Option [Member] | Notes Payable Related Party Ten [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share conversion | 29,124 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Payment Arrangement, Option [Member] | Notes Payable Related Party Eleven [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share conversion | 5,900 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Payment Arrangement, Option [Member] | Notes Payable Related Party Twelve [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share conversion | 11,587 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Payment Arrangement, Option [Member] | Chief Executive Officer [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share conversion | 3,080,781 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Payment Arrangement, Option [Member] | President [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share conversion | 1,009,143 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Payment Arrangement, Option [Member] | Individual And Board [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share conversion | 26,459 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share conversion | 4,663,705 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock [Member] | Notes Payable Related Party One [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share conversion | 44,532 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock [Member] | Notes Payable Related Party Two [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share conversion | 43,536 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock [Member] | Notes Payable Related Party Three [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share conversion | 45,837 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock [Member] | Notes Payable Related Party Four [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share conversion | 7,275 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock [Member] | Notes Payable Related Party Five [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share conversion | 75,319 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock [Member] | Notes Payable Related Party Eight [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share conversion | 96,430 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock [Member] | Notes Payable Related Party Nine [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share conversion | 19,619 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock [Member] | Notes Payable Related Party Ten [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share conversion | 33,528 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock [Member] | Notes Payable Related Party Eleven [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share conversion | 6,792 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock [Member] | Notes Payable Related Party Twelve [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share conversion | 13,339 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock [Member] | Chief Executive Officer [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share conversion | 3,192,385 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock [Member] | President [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share conversion | 1,045,700 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock [Member] | Individual And Board [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share conversion | 30,459 |
SCHEDULE OF FIXED ASSETS (Detai
SCHEDULE OF FIXED ASSETS (Details) - USD ($) | Sep. 30, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Property, Plant and Equipment [Line Items] | |||
Total fixed assets | $ 3,213 | $ 3,213 | $ 170,396 |
Accumulated Depreciation | (1,070) | (267) | (170,396) |
Net fixed assets | 2,143 | 2,946 | |
Computer Equipment [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Total fixed assets | $ 3,213 | 3,213 | 134,896 |
Office Equipment [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Total fixed assets | 22,600 | ||
Equipment [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Total fixed assets | $ 12,900 |
FIXED ASSETS (Details Narrative
FIXED ASSETS (Details Narrative) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | |
Property, Plant and Equipment [Abstract] | ||||||
Depreciation expense | $ 1,310 | $ 1,845 | $ 267 |
SCHEDULE OF NOTES PAYABLE (Deta
SCHEDULE OF NOTES PAYABLE (Details) - USD ($) | Jun. 26, 2013 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | Dec. 31, 2019 |
Short-term Debt [Line Items] | |||||
Principal | $ 871,082 | $ 871,082 | $ 871,082 | ||
Interest Rate | 5.00% | 500.00% | 500.00% | ||
Interest Expense | $ 36,597 | $ 36,597 | $ 48,796 | 48,793 | |
Maturity | Oct. 5, 2019 | Aug. 6, 2022 | |||
Notes Payable One [Member] | |||||
Short-term Debt [Line Items] | |||||
Principal | $ 32,960 | $ 32,960 | $ 32,960 | ||
Interest Rate | 5.00% | 5.00% | 5.00% | ||
Interest Expense | $ 1,236 | $ 1,236 | $ 1,649 | $ 1,648 | |
Maturity | Oct. 5, 2018 | Oct. 5, 2018 | Oct. 5, 2018 | Oct. 5, 2018 | |
Notes Payable Two [Member] | |||||
Short-term Debt [Line Items] | |||||
Principal | $ 32,746 | $ 32,746 | $ 32,746 | ||
Interest Rate | 5.00% | 5.00% | 5.00% | ||
Interest Expense | $ 1,227 | $ 1,227 | $ 1,637 | $ 1,636 | |
Maturity | Oct. 5, 2018 | Oct. 5, 2018 | Oct. 5, 2018 | Oct. 5, 2018 | |
Notes Payable Three [Member] | |||||
Short-term Debt [Line Items] | |||||
Principal | $ 5,000 | $ 5,000 | $ 5,000 | ||
Interest Rate | 6.00% | 6.00% | 6.00% | ||
Interest Expense | $ 225 | $ 225 | $ 300 | $ 300 | |
Maturity | Oct. 5, 2018 | Oct. 5, 2018 | Oct. 5, 2018 | Oct. 5, 2018 | |
Notes Payable Four [Member] | |||||
Short-term Debt [Line Items] | |||||
Principal | $ 100,000 | $ 100,000 | $ 100,000 | ||
Interest Rate | 5.00% | 5.00% | 5.00% | ||
Interest Expense | $ 3,750 | $ 3,750 | $ 5,000 | $ 5,000 | |
Maturity | Oct. 5, 2018 | Oct. 5, 2018 | Oct. 5, 2018 | Oct. 5, 2018 | |
Notes Payable Five [Member] | |||||
Short-term Debt [Line Items] | |||||
Principal | $ 7,000 | $ 7,000 | $ 7,000 | ||
Interest Rate | 6.00% | 6.00% | 6.00% | ||
Interest Expense | $ 315 | $ 315 | $ 420 | $ 420 | |
Maturity | Oct. 5, 2018 | Oct. 5, 2018 | Oct. 5, 2018 | Oct. 5, 2018 | |
Notes Payable Six [Member] | |||||
Short-term Debt [Line Items] | |||||
Principal | $ 388,376 | $ 388,376 | $ 388,376 | ||
Interest Rate | 5.00% | 5.00% | 5.00% | ||
Interest Expense | $ 14,565 | $ 14,565 | $ 19,420 | $ 19,419 | |
Maturity | Oct. 5, 2018 | Oct. 5, 2018 | Oct. 5, 2018 | Oct. 5, 2018 | |
Notes Payable Seven [Member] | |||||
Short-term Debt [Line Items] | |||||
Principal | $ 192,000 | $ 192,000 | $ 192,000 | ||
Interest Rate | 0.00% | 0.00% | 0.00% | ||
Interest Expense | $ 10,080 | $ 10,080 | $ 13,440 | $ 13,440 | |
Maturity | Oct. 5, 2018 | Oct. 5, 2018 | Oct. 5, 2018 | Oct. 5, 2018 | |
Notes Payable Eight [Member] | |||||
Short-term Debt [Line Items] | |||||
Principal | $ 18,000 | $ 18,000 | $ 18,000 | ||
Interest Rate | 6.00% | 6.00% | 6.00% | ||
Interest Expense | $ 810 | $ 810 | $ 1,080 | $ 1,080 | |
Maturity | Sep. 1, 2002 | Sep. 1, 2002 | Sep. 1, 2002 | Sep. 1, 2002 | |
Notes Payable Nine [Member] | |||||
Short-term Debt [Line Items] | |||||
Principal | $ 30,000 | $ 30,000 | $ 30,000 | ||
Interest Rate | 6.00% | 6.00% | 6.00% | ||
Interest Expense | $ 1,350 | $ 1,350 | $ 1,800 | $ 1,800 | |
Maturity | Sep. 12, 2002 | Sep. 12, 2002 | Sep. 12, 2002 | Sep. 12, 2002 | |
Notes Payable Ten [Member] | |||||
Short-term Debt [Line Items] | |||||
Principal | $ 25,000 | $ 25,000 | $ 25,000 | ||
Interest Rate | 5.00% | 5.00% | 5.00% | ||
Interest Expense | $ 939 | $ 939 | $ 1,250 | $ 1,250 | |
Maturity | Aug. 31, 2000 | Aug. 31, 2000 | Aug. 31, 2000 | Aug. 31, 2000 | |
Notes Payable Eleven [Member] | |||||
Short-term Debt [Line Items] | |||||
Principal | $ 40,000 | $ 40,000 | $ 40,000 | ||
Interest Rate | 7.00% | 7.00% | 7.00% | ||
Interest Expense | $ 2,100 | $ 2,100 | $ 2,800 | $ 2,800 | |
Maturity | Jul. 10, 2002 | Jul. 10, 2002 | Jul. 10, 2002 | Jul. 10, 2002 |
NOTES PAYABLE (Details Narrativ
NOTES PAYABLE (Details Narrative) | Nov. 27, 2021 | Nov. 27, 2021 | Aug. 06, 2021USD ($) | Jul. 20, 2021USD ($) | Mar. 26, 2021USD ($) | Feb. 26, 2021USD ($) | Nov. 27, 2020USD ($) | Mar. 11, 2014USD ($) | Jan. 31, 2014USD ($) | Jun. 26, 2013USD ($) | Jan. 27, 2010USD ($) | Sep. 30, 2021USD ($)Integer | Jun. 30, 2021USD ($)Integer | Sep. 30, 2020USD ($) | Sep. 30, 2021USD ($) | Sep. 30, 2020USD ($) | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | Dec. 19, 2020USD ($) | Dec. 31, 2012USD ($) | Sep. 17, 2012USD ($) | Aug. 28, 2012USD ($) | Apr. 12, 2012USD ($) | Dec. 27, 2009USD ($) |
Debt Instrument [Line Items] | ||||||||||||||||||||||||
Principal | $ 871,082 | $ 871,082 | $ 871,082 | $ 871,082 | ||||||||||||||||||||
Accrued interest | $ 0 | 298,796 | $ 434,345 | |||||||||||||||||||||
Interest Rate | 5.00% | 500.00% | 500.00% | 500.00% | ||||||||||||||||||||
Maturity | Oct. 5, 2019 | Aug. 6, 2022 | ||||||||||||||||||||||
Total notes payable | $ 100,000 | $ 100,000 | $ 388,376 | $ 100,000 | $ 100,000 | $ 0 | ||||||||||||||||||
Monthly installment payments | 5,553 | |||||||||||||||||||||||
Debt term | 12 months | 12 months | ||||||||||||||||||||||
Interest Expense | 36,597 | $ 36,597 | 48,796 | 48,793 | ||||||||||||||||||||
Accrued interest payable related party | 83,883 | 83,883 | 109,513 | |||||||||||||||||||||
Proceeds from convertible debenture | 68,000 | |||||||||||||||||||||||
Convertible debenture | $ 74,800 | |||||||||||||||||||||||
Notes payable | $ 388,376 | 871,082 | 871,082 | 871,082 | 871,082 | |||||||||||||||||||
Accrued interest | $ 376,007 | 376,007 | 357,708 | 310,307 | ||||||||||||||||||||
Interest Expense, Long-term Debt | 40,425 | 162,068 | ||||||||||||||||||||||
Cash received from issuance of common shares | 25,000 | |||||||||||||||||||||||
Number of advances received | Integer | 3 | 5 | ||||||||||||||||||||||
[custom:ImputedInterestOnLoan] | 10,080 | 10,080 | 13,440 | 13,440 | ||||||||||||||||||||
Accredited Investor [Member] | ||||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||||
Cash received from issuance of common shares | $ 50,000 | $ 100,000 | $ 150,000 | $ 190,000 | ||||||||||||||||||||
Accrued Liabilities [Member] | ||||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||||
Accrued interest | 2,170 | $ 0 | 2,170 | 0 | ||||||||||||||||||||
Convertible Debt [Member] | ||||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||||
Principal | $ 74,800 | |||||||||||||||||||||||
Accrued interest | 12,045 | |||||||||||||||||||||||
Interest Rate | 10.00% | |||||||||||||||||||||||
Debt conversion, discount | $ 6,800 | |||||||||||||||||||||||
Proceeds from convertible debenture | $ 68,000 | |||||||||||||||||||||||
Convertible debenture | 0 | 0 | 74,800 | |||||||||||||||||||||
Accrued interest | 0 | 0 | 12,045 | |||||||||||||||||||||
Convertible Debt [Member] | Debt Instrument, Redemption, Period One [Member] | ||||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||||
Debt instrument redemption price percentage | 15.00% | |||||||||||||||||||||||
Convertible Debt [Member] | Debt Instrument, Redemption, Period Two [Member] | ||||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||||
Debt instrument redemption price percentage | 20.00% | |||||||||||||||||||||||
Convertible Debt [Member] | Debt Instrument, Redemption, Period Three [Member] | ||||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||||
Debt instrument redemption price percentage | 25.00% | |||||||||||||||||||||||
Convertible Debt [Member] | Debt Instrument, Redemption, Period Four [Member] | ||||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||||
Debt instrument redemption price percentage | 29.00% | |||||||||||||||||||||||
Convertible Debt [Member] | Subsequent Event [Member] | ||||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||||
Maturity | Nov. 27, 2021 | |||||||||||||||||||||||
Debt conversion, description | The debenture included a conversion right to be exercised at any time 180 days after execution of the note and was convertible into common stock of the Company at 75% of the market price, being calculated as the lowest three trading prices during the fifteen trading day period prior to conversion. The Debenture also required the Company to reserve 5 times the expected conversion share amount at the transfer agent, to ensure there were sufficient shares available upon conversion. | The debenture includes a conversion right to be exercised at any time 180 days after execution of the note and is convertible into common stock of the Company at 75% of the market price, being calculated as the lowest three trading prices during the fifteen-trading day period prior to conversion. The Debenture also required the Company to reserve 5 times the expected conversion share amount at the transfer agent, to insure there are sufficient shares available upon conversion. | ||||||||||||||||||||||
Debt Conversion, Converted Instrument, Rate | 75.00% | |||||||||||||||||||||||
Note Agreement With LLC [Member] | ||||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||||
Principal | $ 5,000 | |||||||||||||||||||||||
Accrued interest | 2,042 | 1,742 | ||||||||||||||||||||||
Interest Rate | 6.00% | |||||||||||||||||||||||
Maturity | Oct. 5, 2018 | |||||||||||||||||||||||
Debt term | 8 months | |||||||||||||||||||||||
Notes payable | $ 5,000 | |||||||||||||||||||||||
Accrued interest | 2,267 | 2,267 | 2,042 | |||||||||||||||||||||
Note Agreement with Corporation [Member] | ||||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||||
Principal | $ 7,000 | |||||||||||||||||||||||
Accrued interest | 2,904 | 2,484 | ||||||||||||||||||||||
Interest Rate | 6.00% | |||||||||||||||||||||||
Maturity | Oct. 5, 2018 | |||||||||||||||||||||||
Debt term | 8 months | |||||||||||||||||||||||
Notes payable | $ 7,000 | |||||||||||||||||||||||
Accrued interest | 3,219 | 3,219 | 2,904 | |||||||||||||||||||||
Notes Payable [Member] | ||||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||||
Principal | 200,000 | 200,000 | 0 | |||||||||||||||||||||
Accrued interest | 345,663 | 310,307 | ||||||||||||||||||||||
Interest Rate | 5.00% | 5.00% | ||||||||||||||||||||||
Total notes payable | $ 292,860 | |||||||||||||||||||||||
Interest Expense | 3,828 | 0 | 183,669 | 99,361 | ||||||||||||||||||||
Accrued interest payable related party | 0 | 298,796 | ||||||||||||||||||||||
Notes payable | $ 292,860 | |||||||||||||||||||||||
Accrued interest | 372,180 | 372,180 | 345,663 | |||||||||||||||||||||
Notes Payable [Member] | Accrued Liabilities [Member] | ||||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||||
Accrued interest | 1,658 | 0 | 1,658 | $ 0 | ||||||||||||||||||||
Notes Payable [Member] | Corporation [Member] | ||||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||||
Interest Rate | 5.00% | |||||||||||||||||||||||
Maturity | Oct. 5, 2018 | |||||||||||||||||||||||
Total notes payable | $ 192,000 | $ 32,000 | $ 20,000 | $ 12,000 | $ 100,000 | |||||||||||||||||||
Monthly installment payments | $ 1,430 | |||||||||||||||||||||||
Debt term | 6 months | |||||||||||||||||||||||
Interest Expense | 13,440 | 13,440 | ||||||||||||||||||||||
Notes payable | $ 192,000 | $ 41,318 | 41,318 | 37,568 | $ 32,000 | $ 20,000 | $ 12,000 | $ 100,000 | ||||||||||||||||
Notes Payable [Member] | During 2002 [Member] | ||||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||||
Accrued interest | 20,880 | 19,800 | ||||||||||||||||||||||
Litigation settlement amount | $ 18,000 | $ 18,000 | ||||||||||||||||||||||
Interest Rate | 6.00% | 6.00% | 6.00% | |||||||||||||||||||||
Maturity | Sep. 1, 2002 | Sep. 1, 2002 | ||||||||||||||||||||||
Accrued interest | $ 21,690 | $ 21,690 | $ 20,880 | |||||||||||||||||||||
Notes Payable [Member] | During 2000 [Member] | ||||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||||
Accrued interest | 27,091 | 25,839 | ||||||||||||||||||||||
Litigation settlement amount | $ 25,000 | $ 25,000 | ||||||||||||||||||||||
Interest Rate | 5.00% | 5.00% | 5.00% | |||||||||||||||||||||
Maturity | Aug. 31, 2000 | Aug. 31, 2000 | ||||||||||||||||||||||
Accrued interest | $ 28,030 | $ 28,030 | $ 27,091 | |||||||||||||||||||||
Notes Payable One [Member] | ||||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||||
Principal | $ 32,960 | $ 32,960 | $ 32,960 | $ 32,960 | ||||||||||||||||||||
Interest Rate | 5.00% | 5.00% | 5.00% | 5.00% | ||||||||||||||||||||
Maturity | Oct. 5, 2018 | Oct. 5, 2018 | Oct. 5, 2018 | Oct. 5, 2018 | ||||||||||||||||||||
Interest Expense | $ 1,236 | $ 1,236 | $ 1,649 | $ 1,648 | ||||||||||||||||||||
Notes Payable One [Member] | During 2002 [Member] | ||||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||||
Accrued interest | 32,299 | 30,499 | ||||||||||||||||||||||
Litigation settlement amount | $ 30,000 | $ 30,000 | ||||||||||||||||||||||
Interest Rate | 6.00% | 6.00% | 6.00% | |||||||||||||||||||||
Maturity | Sep. 12, 2002 | Sep. 12, 2002 | ||||||||||||||||||||||
Accrued interest | $ 33,649 | $ 33,649 | $ 32,299 | |||||||||||||||||||||
Notes Payable Two [Member] | ||||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||||
Principal | $ 32,746 | $ 32,746 | $ 32,746 | $ 32,746 | ||||||||||||||||||||
Interest Rate | 5.00% | 5.00% | 5.00% | 5.00% | ||||||||||||||||||||
Maturity | Oct. 5, 2018 | Oct. 5, 2018 | Oct. 5, 2018 | Oct. 5, 2018 | ||||||||||||||||||||
Interest Expense | $ 1,227 | $ 1,227 | $ 1,637 | $ 1,636 | ||||||||||||||||||||
Notes Payable Two [Member] | During 2002 [Member] | ||||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||||
Accrued interest | 52,287 | 49,487 | ||||||||||||||||||||||
Litigation settlement amount | $ 40,000 | $ 40,000 | ||||||||||||||||||||||
Interest Rate | 7.00% | 7.00% | 7.00% | |||||||||||||||||||||
Maturity | Jul. 10, 2002 | Jul. 10, 2002 | ||||||||||||||||||||||
Accrued interest | $ 54,387 | $ 54,387 | $ 52,287 | |||||||||||||||||||||
New Note [Member] | ||||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||||
Accrued interest | 145,909 | 126,489 | ||||||||||||||||||||||
Accrued interest | 160,474 | 160,474 | 145,909 | |||||||||||||||||||||
New Note One [Member] | ||||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||||
Principal | $ 32,960 | |||||||||||||||||||||||
Accrued interest | 12,383 | 10,735 | ||||||||||||||||||||||
Interest Rate | 5.00% | |||||||||||||||||||||||
Maturity | Oct. 5, 2018 | |||||||||||||||||||||||
Monthly installment payments | $ 473 | |||||||||||||||||||||||
Notes payable | 32,960 | |||||||||||||||||||||||
Accrued interest | 13,619 | 13,619 | 12,383 | |||||||||||||||||||||
New Note 2 [Member] | ||||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||||
Principal | $ 32,746 | |||||||||||||||||||||||
Accrued interest | 12,300 | $ 10,664 | ||||||||||||||||||||||
Interest Rate | 5.00% | |||||||||||||||||||||||
Maturity | Oct. 5, 2018 | |||||||||||||||||||||||
Monthly installment payments | $ 468 | |||||||||||||||||||||||
Notes payable | $ 32,746 | |||||||||||||||||||||||
Accrued interest | 13,527 | 13,527 | 12,300 | |||||||||||||||||||||
Note Payable [Member] | ||||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||||
Maturity | Aug. 6, 2022 | |||||||||||||||||||||||
Accrued interest | $ 376,007 | $ 376,007 | $ 345,663 | |||||||||||||||||||||
Note Payable 1 [Member] | ||||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||||
Interest Rate | 5.00% | 5.00% | 5.00% | |||||||||||||||||||||
Maturity | Jul. 20, 2022 | |||||||||||||||||||||||
Total notes payable | $ 100,000 | $ 100,000 | $ 0 | |||||||||||||||||||||
Notes Payable 1 [Member] | ||||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||||
Maturity | Jul. 20, 2022 | |||||||||||||||||||||||
Interest Expense | 2,170 | $ 0 | ||||||||||||||||||||||
Notes Payable 2 [Member] | ||||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||||
Interest Expense | 1,658 | 0 | ||||||||||||||||||||||
Non Interest Bearing Debt [Member] | ||||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||||
[custom:ImputedInterestOnLoan] | $ 3,360 | $ 3,360 | $ 10,080 | $ 10,080 | ||||||||||||||||||||
Minimum [Member] | ||||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||||
Notes bearing interest rate | 5.00% | |||||||||||||||||||||||
Maximum [Member] | ||||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||||
Notes bearing interest rate | 9.00% |
SCHEDULE OF DEFERRED TAX ASSETS
SCHEDULE OF DEFERRED TAX ASSETS (Details) - USD ($) | Dec. 31, 2020 | Dec. 31, 2019 |
Income Tax Disclosure [Abstract] | ||
NOL carryover | $ 3,508,211 | $ 3,354,581 |
Valuation allowance | (3,508,211) | (3,354,581) |
Net deferred tax asset |
SCHEDULE OF COMPONENTS OF INCOM
SCHEDULE OF COMPONENTS OF INCOME TAX EXPENSE (Details) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | |
Income Tax Disclosure [Abstract] | ||||||
Book loss | $ (583,482) | $ (300,055) | ||||
Stock based compensation | 427,056 | 203,606 | ||||
Non-deductible expenses | 87 | 1,352 | ||||
Unrealized/Realized gains or losses on Securities (net) | 2,709 | 1,642 | ||||
Change in NOL valuation allowance | 153,630 | 93,455 | ||||
Income tax expense benefit |
SCHEDULE OF RECONCILIATION OF B
SCHEDULE OF RECONCILIATION OF BEGINNING AND ENDING OF UNRECOGNIZED TAX BENEFITS (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Income Tax Disclosure [Abstract] | ||
Beginning balance | $ 3,354,581 | $ 3,261,126 |
Additions based on tax positions related to current year | 153,630 | 93,455 |
Additions for tax positions of prior years | ||
Reductions for tax positions of prior years | ||
Reductions in benefit due to income tax expense | ||
Ending balance | $ 3,508,211 | $ 3,354,581 |
INCOME TAXES (Details Narrative
INCOME TAXES (Details Narrative) - USD ($) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Income Tax Disclosure [Abstract] | ||
Federal and state income tax rates | 21.00% | 21.00% |
Net operating loss carry-forwards | $ 15,878,689 | $ 15,147,119 |
Accrued interest or penalties related to uncertain tax positions | $ 0 | $ 0 |
SCHEDULE OF STOCK OPTION ISSUAN
SCHEDULE OF STOCK OPTION ISSUANCE OF FAIR VALUE ASSUMPTIONS (Details) | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | |
Equity [Abstract] | |||
Risk-free interest rate | 3.00% | 3.00% | |
Expected lives (in years) | 2 years | 2 years | |
Expected stock volatility | 72.00% | 72.00% | |
Dividend yield |
SCHEDULE OF STOCK OPTION (Detai
SCHEDULE OF STOCK OPTION (Details) - USD ($) | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Equity [Abstract] | |||
Shares Outstanding, Beginning Balance | 4,500,664 | ||
Weighted Average Exercise Price, Outstanding, Beginning Balance | $ 0.01 | ||
Aggregate Intrinsic Value, Outstanding, Beginning Balance | $ 427,563 | ||
Shares, Granted | 4,500,664 | ||
Weighted Average Exercise Price, Granted | $ 0.01 | ||
Aggregate Intrinsic Value Outstanding, Granted | $ 427,563 | ||
Shares, Exercised | |||
Weighted Average Exercise Price, Exercised | |||
Shares, Forfeited | |||
Weighted Average Exercise Price, Forfeited | |||
Weighted Average Remaining Term Granted | 2 years | ||
Shares, Outstanding, Ending Balance | 4,500,664 | 4,500,664 | |
Weighted Average Exercise Price Outstanding, Ending Balance | $ 0.01 | $ 0.01 | |
Weighted Average Remaining Term, Outstanding, Ending balance | 1 year 3 months | 2 years | |
Aggregate Intrinsic Value, Outstanding, Ending Balance | $ 427,563 | $ 427,563 | |
Weighted Average Remaining Term, Outstanding, Beginning Balance | 2 years | 0 years | |
Aggregate Intrinsic Value, Granted | $ 427,563 |
STOCKHOLDERS_ EQUITY (DEFICIT_2
STOCKHOLDERS’ EQUITY (DEFICIT) (Details Narrative) | Aug. 24, 2021 | Jun. 24, 2021shares | Mar. 31, 2021USD ($)shares | Mar. 22, 2021$ / sharesshares | Dec. 31, 2020USD ($)$ / sharesshares | Dec. 19, 2020USD ($)$ / sharesshares | Dec. 16, 2020USD ($)shares | Dec. 03, 2020USD ($)shares | Nov. 18, 2020USD ($)shares | Sep. 23, 2020USD ($)shares | Sep. 03, 2020USD ($)shares | Jun. 24, 2020USD ($)shares | May 06, 2020USD ($)shares | Dec. 21, 2019USD ($)shares | Dec. 19, 2019USD ($)shares | Oct. 10, 2019USD ($)shares | Jun. 28, 2019USD ($)shares | Apr. 07, 2016shares | Sep. 30, 2021USD ($)$ / sharesshares | Jun. 30, 2021USD ($)shares | Mar. 31, 2021USD ($)shares | Sep. 30, 2020USD ($)shares | Jun. 30, 2020USD ($)shares | Sep. 30, 2021USD ($)$ / sharesshares | Sep. 30, 2020USD ($)shares | Dec. 31, 2020USD ($)$ / sharesshares | Dec. 31, 2019USD ($)$ / sharesshares | Dec. 31, 2018 | Jun. 28, 2021shares | Apr. 02, 2021shares | Dec. 31, 2016shares | Sep. 24, 2007shares |
Class of Stock [Line Items] | ||||||||||||||||||||||||||||||||
Common Stock, Shares Authorized | 550,000,000 | 550,000,000 | 550,000,000 | 550,000,000 | 550,000,000 | 550,000,000 | ||||||||||||||||||||||||||
Common Stock, Par or Stated Value Per Share | $ / shares | $ 0.001 | $ 0.001 | $ 0.001 | $ 0.001 | $ 0.001 | |||||||||||||||||||||||||||
Common Stock, Shares, Issued | 1,500,000 | 230,498,005 | 246,722,140 | 246,722,140 | 230,498,005 | 205,277,990 | ||||||||||||||||||||||||||
Common stock, outstanding | 230,498,005 | 236,572,140 | 236,572,140 | 230,498,005 | 205,277,990 | |||||||||||||||||||||||||||
Preferred stock shares authorized | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | |||||||||||||||||||||||||||
Preferred stock shares issued | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | |||||||||||||||||||||||||||
Voting rights | Voting Rights to include: the right to vote in an amount equal to 51% of the total vote with respect to any proposal relating to (a) increasing the authorized share capital of the Company | |||||||||||||||||||||||||||||||
Number of shares issued during period for services | 3,000,000 | |||||||||||||||||||||||||||||||
Issued shares for services, value | $ | $ 1,360,888 | $ 866,724 | $ 471,000 | $ 65,750 | $ 92,301 | $ 2,033,599 | $ 969,550 | |||||||||||||||||||||||||
Prepaid expenses | $ | $ 222,167 | 222,167 | ||||||||||||||||||||||||||||||
Selling, General and Administrative Expense | $ | 938,250 | |||||||||||||||||||||||||||||||
Number of shares issued for common stock, value | $ | 25,000 | |||||||||||||||||||||||||||||||
Shares held in escrows | 1,500,000 | 2,650,000 | ||||||||||||||||||||||||||||||
[custom:DeclarationOfWarrantIssuanceDescription] | On August 24, 2021, the Company and We SuperGreen Energy Corp (WSGE) and WSGE shareholders reached and signed a Definitive Letter Agreement wherein the Company will acquire 100% of the shares of WSGE, subject to various closing conditions, expected to close before the calendar year end. | On March 22, 2021, the Company declared a warrant dividend to the shareholders of record on April 1, 2021, to be administered via its transfer agent Liberty Stock Transfer. On April 8, 2021, the Company issued the warrants to its shareholder at a rate of 1 warrant for each 10 shares owned as of April 1, 2021. The warrant entitles the holder to purchase one restricted share of GTII common stock for a price of $2.75 (the strike price). The warrant has a | ||||||||||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 2.75 | |||||||||||||||||||||||||||||||
Warrants and Rights Outstanding, Term | 2 years | |||||||||||||||||||||||||||||||
Warrants and Rights Outstanding, Maturity Date | Apr. 8, 2023 | |||||||||||||||||||||||||||||||
Dividends | $ | $ 57,689,800 | 57,689,800 | ||||||||||||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 23,364,803 | |||||||||||||||||||||||||||||||
[custom:ImputedInterestOnLoan] | $ | $ 10,080 | $ 10,080 | $ 13,440 | $ 13,440 | ||||||||||||||||||||||||||||
Issuances of Common Stock [Member] | ||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||||||||||||
Number of shares issued during period for services | 6,074,135 | 6,540,000 | ||||||||||||||||||||||||||||||
Issued shares for services, value | $ | $ 3,643,612 | $ 158,050 | ||||||||||||||||||||||||||||||
Common Stock [Member] | ||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||||||||||||
Number of shares issued during period for services | 707,140 | 166,995 | 4,500,000 | 2,000,000 | 4,540,000 | 25,224,840 | 33,500,000 | |||||||||||||||||||||||||
Issued shares for services, value | $ | $ 707 | $ 167 | $ 4,500 | $ 2,000 | $ 4,540 | $ 25,225 | $ 33,500 | |||||||||||||||||||||||||
Number of shares issued for common stock | 1,000,000 | |||||||||||||||||||||||||||||||
Number of shares issued for common stock, value | $ | $ 1,000 | |||||||||||||||||||||||||||||||
Percentage Of Outstanding Interest | 100 | |||||||||||||||||||||||||||||||
Warrant [Member] | ||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||||||||||||
Common Stock, Par or Stated Value Per Share | $ / shares | $ 0.10 | |||||||||||||||||||||||||||||||
Notes Payable Related Party [Member] | Share-based Payment Arrangement, Option [Member] | ||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||||||||||||
Share based compensation vesting rights, description | All options are vested immediately | |||||||||||||||||||||||||||||||
Number of shares authorized to issued | 4,500,664 | |||||||||||||||||||||||||||||||
Share price | $ / shares | $ 0.01 | |||||||||||||||||||||||||||||||
Expiration period | 2 years | |||||||||||||||||||||||||||||||
Number of options granted | 447,813 | |||||||||||||||||||||||||||||||
Share based compensation | $ | $ 447,813 | |||||||||||||||||||||||||||||||
Non-Interest-Bearing Note [Member] | ||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||||||||||||
[custom:ImputedInterestOnLoan] | $ | $ 3,360 | $ 3,360 | $ 10,080 | $ 10,080 | ||||||||||||||||||||||||||||
2007 Omnibus Stock and Incentive Plan [Member] | ||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||||||||||||
Common stock reserved for future issuance | 60,000 | |||||||||||||||||||||||||||||||
ESOP Plan [Member] | ||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||||||||||||
Compensation expense | $ | $ 0 | $ 150,000 | ||||||||||||||||||||||||||||||
Number of allocated shares | 23,500,000 | 23,500,000 | 23,500,000 | |||||||||||||||||||||||||||||
Number of suspense shares | 0 | 0 | 0 | |||||||||||||||||||||||||||||
Number of common shares issued, value | $ | $ 2,350,000 | $ 2,350,000 | $ 878,900 | |||||||||||||||||||||||||||||
Employees [Member] | ||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||||||||||||
Number of shares issued during period for services | 5,000,000 | |||||||||||||||||||||||||||||||
Issued shares for services, value | $ | $ 150,000 | |||||||||||||||||||||||||||||||
Number of common shares issued | 5,000,000 | |||||||||||||||||||||||||||||||
Notes Payable Related Party [Member] | ||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||||||||||||
Number of shares issued during period for services | 4,663,705 | |||||||||||||||||||||||||||||||
Issued shares for services, value | $ | $ 510,676 | |||||||||||||||||||||||||||||||
Series A Preferred Stock [Member] | ||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||||||||||||
Preferred stock shares authorized | 50,000 | 50,000 | 1,000 | |||||||||||||||||||||||||||||
Preferred stock shares issued | 1,000 | |||||||||||||||||||||||||||||||
Voting rights | Super voting power, wherein the | |||||||||||||||||||||||||||||||
Director [Member] | ||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||||||||||||
Common Stock, Shares Authorized | 350,000,000 | 350,000,000 | 350,000,000 | |||||||||||||||||||||||||||||
Chief Executive Officer [Member] | ||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||||||||||||
Preferred stock shares issued | 1,000 | |||||||||||||||||||||||||||||||
Board of Directors [Member] | ||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||||||||||||
Number of shares issued during period for services | 184,840 | 2,500,000 | 3,000,000 | 3,000,000 | 10,000,000 | 1,500,000 | 500,000 | 1,500,000 | 3,040,000 | 15,500,000 | 8,000,000 | 1,000,000 | 5,000,000 | |||||||||||||||||||
Issued shares for services, value | $ | $ 161,875 | $ 249,674 | $ 322,500 | $ 1,158,000 | $ 30,000 | $ 20,750 | $ 30,000 | $ 60,800 | $ 389,050 | $ 168,000 | $ 25,000 | $ 262,500 | ||||||||||||||||||||
Share based compensation vesting rights, period | 2 years | |||||||||||||||||||||||||||||||
Share based compensation vesting rights, percentage | 10.00% | |||||||||||||||||||||||||||||||
Board of Directors [Member] | Maximum [Member] | ||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||||||||||||
Share based compensation vesting rights, period | 2 years | |||||||||||||||||||||||||||||||
Share based compensation vesting rights, percentage | 20.00% | |||||||||||||||||||||||||||||||
Share based compensation vesting rights, description | Full vesting after six years of Service | |||||||||||||||||||||||||||||||
Board of Directors [Member] | Subsequent Event [Member] | ||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||||||||||||
Prepaid expenses | $ | $ 222,167 | $ 222,167 |
COMMITMENTS AND CONTINGENCIES (
COMMITMENTS AND CONTINGENCIES (Details Narrative) | Dec. 31, 2012USD ($)Integer$ / sharesshares | Apr. 01, 2010USD ($) | Apr. 01, 2009USD ($) | Apr. 01, 2009 | Oct. 01, 2007USD ($)shares | Dec. 31, 2019USD ($)shares | Sep. 30, 2021USD ($)shares | Dec. 31, 2020USD ($)shares | Dec. 31, 2019USD ($)shares | Dec. 31, 2009USD ($) | Dec. 31, 2018USD ($) | Mar. 31, 2013USD ($) |
Product Liability Contingency [Line Items] | ||||||||||||
Promissory notes | $ 3,540,405 | $ 3,540,405 | ||||||||||
Asset retirement obligation | $ 101,250 | |||||||||||
Number of stock options issued to purchase of common stock | shares | 4,500,664 | |||||||||||
Contract extension description | During the year ended December 31, 2012, the Board of Directors approved the extension of this contract until December 31, 2013, with a salary of $1. | |||||||||||
Settlement of preliminary shares return | shares | ||||||||||||
American Resource Technologies Inc [Member] | ||||||||||||
Product Liability Contingency [Line Items] | ||||||||||||
Repurchasing shares | shares | 4,668,530 | |||||||||||
Promissory Notes [Member] | ||||||||||||
Product Liability Contingency [Line Items] | ||||||||||||
Promissory notes | $ 100,000 | |||||||||||
Promissory Notes One [Member] | ||||||||||||
Product Liability Contingency [Line Items] | ||||||||||||
Promissory notes | 100,000 | |||||||||||
Promissory Notes Two [Member] | ||||||||||||
Product Liability Contingency [Line Items] | ||||||||||||
Promissory notes | 350,000 | |||||||||||
BRAZIL | Companies One [Member] | ||||||||||||
Product Liability Contingency [Line Items] | ||||||||||||
Accounts receivables | 3,600,000 | |||||||||||
BRAZIL | Companies Two [Member] | ||||||||||||
Product Liability Contingency [Line Items] | ||||||||||||
Accounts receivables | 3,600,000 | |||||||||||
TTII Oil & Gas, Inc. [Member] | ||||||||||||
Product Liability Contingency [Line Items] | ||||||||||||
Contract for revenue | 1,000,000 | |||||||||||
Asset Purchase Agreement [Member] | American Resource Technologies Inc [Member] | ||||||||||||
Product Liability Contingency [Line Items] | ||||||||||||
Issuance of common stock to purchase of assets | $ 513,538 | |||||||||||
Issuance of common stock to purchase of assets, shares | shares | 4,668,530 | |||||||||||
Common stock price per share | $ / shares | $ 0.11 | |||||||||||
Percentage of working interest in oil and gas leases | 75.00% | |||||||||||
Asset Purchase Agreement [Member] | Variable Interest Entity [Member] | ||||||||||||
Product Liability Contingency [Line Items] | ||||||||||||
Percentage of working interest in oil and gas leases | 25.00% | |||||||||||
Number of operating entities | Integer | 3 | |||||||||||
Ownbey Lease [Member] | ||||||||||||
Product Liability Contingency [Line Items] | ||||||||||||
Working interest, percentage | 75.00% | |||||||||||
Fee outstanding | $ 267,000 | |||||||||||
Acquisition Agreement [Member] | ||||||||||||
Product Liability Contingency [Line Items] | ||||||||||||
Asset retirement obligation | $ 101,250 | $ 101,250 | ||||||||||
Employment Agreement [Member] | ||||||||||||
Product Liability Contingency [Line Items] | ||||||||||||
Settlement of preliminary shares return | shares | 43,649,491 | |||||||||||
Agreement term | 3 years | 2 years | 2 years | |||||||||
Annual salary | $ 250,000 | $ 500,000 | ||||||||||
Number of stock options issued to purchase of common stock | shares | 1,200,000 | |||||||||||
Settlement of preliminary shares return | shares | 43,649,491 | |||||||||||
Employment Agreement [Member] | Shareholders [Member] | ||||||||||||
Product Liability Contingency [Line Items] | ||||||||||||
Deposit received | $ 128,634 | |||||||||||
Employment Agreement [Member] | President [Member] | ||||||||||||
Product Liability Contingency [Line Items] | ||||||||||||
Annual salary | $ 127,500 | |||||||||||
Contract extension description | Mrs. Griffin’s employment contract has been extended on December 31, 2012, until December 31, 2013, with a salary of $1. Mrs. | |||||||||||
Employment Agreement [Member] | President [Member] | Maximum [Member] | ||||||||||||
Product Liability Contingency [Line Items] | ||||||||||||
Annual salary | $ 180,000 | |||||||||||
Employment Agreement [Member] | GoFun Shareholders [Member] | ||||||||||||
Product Liability Contingency [Line Items] | ||||||||||||
Deposit received | $ 128,634 |
MARKETABLE SECURITIES (Details
MARKETABLE SECURITIES (Details Narrative) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | |
Investments, Debt and Equity Securities [Abstract] | ||||||
Payment to acquire equity | $ 195,000 | $ 195,000 | $ 31,000 | $ 44,044 | ||
Gain on sale of marketable securities | $ (185,000) | $ 14,966 | $ 164,000 | $ (901) | (12,901) | 67,342 |
Realized gains on marketable securities | 40 | 75,190 | ||||
Unrealized losses on marketable securities | $ 12,941 | $ 7,848 |
SCHEDULE OF ASSET RETIREMENT OB
SCHEDULE OF ASSET RETIREMENT OBLIGATION (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2013 | |
Asset Retirement Obligation Disclosure [Abstract] | |||
Asset retirement obligation-beginning of year | $ 101,250 | ||
Liabilities incurred | $ 101,250 | ||
Accretion expense | |||
Rescission of agreement | (101,250) | ||
Asset retirement obligation-end of year |
ASSET RETIREMENT OBLIGATION (De
ASSET RETIREMENT OBLIGATION (Details Narrative) - USD ($) | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2013 | |
Asset Retirement Obligation Disclosure [Abstract] | |||
Fair value of liability for asset retirement obligation | $ 101,250 |
SUBSEQUENT EVENTS (Details Narr
SUBSEQUENT EVENTS (Details Narrative) - USD ($) | Apr. 02, 2021 | Mar. 31, 2021 | Mar. 21, 2021 | Mar. 15, 2021 | Feb. 28, 2021 | Feb. 26, 2021 | Sep. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Sep. 30, 2020 | Jun. 30, 2020 | Dec. 31, 2020 | Dec. 31, 2019 |
Prepayment of convertible debt | $ 91,924 | ||||||||||||
Stock issued value | $ 25,000 | ||||||||||||
Assets | $ 564,029 | $ 258,592 | $ 45,479 | ||||||||||
Stock issued during period, shares, issued for services | 3,000,000 | ||||||||||||
Bronx Family Eye Care, Inc. [Member] | |||||||||||||
Stock issued for acquisition | 2,650,000 | 2,650,000 | |||||||||||
Revenues | $ 1,000,000 | $ 1,000,000 | |||||||||||
Common Stock [Member] | |||||||||||||
Number of stock issued | 1,000,000 | ||||||||||||
Stock issued value | $ 1,000 | ||||||||||||
Stock issued during period, shares, issued for services | 707,140 | 166,995 | 4,500,000 | 2,000,000 | 4,540,000 | 25,224,840 | 33,500,000 | ||||||
Gold Transactions International, Inc. [Member] | |||||||||||||
Assets | $ 5,044,610 | ||||||||||||
Current portion of long-term debts | 246,958 | ||||||||||||
Long term debt | $ 4,797,652 | ||||||||||||
Stock issued for acquisition | 6,000,000 | ||||||||||||
Acquisition stcok value | $ 6,000,000 | ||||||||||||
Stock Purchase Agreement [Member] | Gold Transactions International, Inc. [Member] | |||||||||||||
Number of stock issued | 6,000,000 | ||||||||||||
Stock issued value | $ 6,000,000 | ||||||||||||
Stock Purchase Agreement [Member] | Gold Transactions International, Inc. [Member] | Common Stock [Member] | |||||||||||||
Number of stock issued | 6,000,000 | ||||||||||||
Stock issued value | $ 6,000,000 | ||||||||||||
2020 IR services agreement [Member] | |||||||||||||
Number of stock issued | 3,000,000 |
SCHEDULE OF FINITE LIVED INTANG
SCHEDULE OF FINITE LIVED INTANGIBLE ASSETS (Details) - USD ($) | Sep. 30, 2021 | Dec. 31, 2020 |
Finite-Lived Intangible Assets [Line Items] | ||
Total licensed assets | $ 5,000 | $ 0 |
Accumulated Amortization | (1,042) | 0 |
Net licensed assets | 3,958 | 0 |
Licensing Agreements [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Total licensed assets | $ 5,000 | $ 0 |
LICENSES (Details Narrative)
LICENSES (Details Narrative) - USD ($) | May 01, 2021 | Feb. 28, 2021 | Sep. 30, 2021 | Sep. 30, 2020 |
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||||
License term description | The term of the license is for 12 months with an automatic renewal for an additional 12 months. The license will be amortized over the term of 24 months, using the straight line method. Amortization expensed for the nine months ended September 30, 2021 and 2020 is $1,042 and $0, respectively. | |||
Amortization expense | $ 1,042 | $ 0 | ||
Gold Transactions International, Inc. [Member] | ||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||||
Shares issued, amount | $ 6,000,000 | |||
Shares issued, shares | 6,000,000 | |||
Alt 5 Sigma Inc [Member] | ||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||||
License Amount Paid | $ 5,000 | |||
Stock Purchase Agreement [Member] | Shareholders [Member] | ||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||||
Shares issued, amount | $ 6,000,000 | |||
Shares issued, shares | 6,000,000 | |||
Stock Purchase Agreement [Member] | Gold Transactions International, Inc. [Member] | ||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||||
Equity Method Investment, Ownership Percentage | 100.00% |
FINE ART (Details Narrative)
FINE ART (Details Narrative) | Jun. 04, 2021USD ($) | Apr. 07, 2021USD ($)Integer |
Fine Art | ||
Number Of Pieces Acquiring For Eventual Digitization | Integer | 2 | |
Payment for piece of fine art | $ | $ 31,905 | $ 35,940 |
SCHEDULE OF WARRANTS ISSUANCE O
SCHEDULE OF WARRANTS ISSUANCE OF FAIR VALUE ASSUMPTIONS (Details) | Sep. 30, 2021 |
Measurement Input, Risk Free Interest Rate [Member] | |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |
Warrants and rights outstanding, measurement input | 0.25 |
Measurement Input, Expected Term [Member] | |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |
Warrants and rights outstanding, measurement input | 2 |
Measurement Input, Price Volatility [Member] | |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |
Warrants and rights outstanding, measurement input | 266 |
Measurement Input, Expected Dividend Rate [Member] | |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |
Warrants and rights outstanding, measurement input |
SCHEDULE OF WARRANTS (Details)
SCHEDULE OF WARRANTS (Details) - USD ($) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2021 | Dec. 31, 2020 | |
Equity [Abstract] | ||
Shares Outstanding, Beginning Balance | ||
Weighted Average Exercise Price, Ending Balance | ||
Aggregate Intrinsic Value, Outstanding | ||
Shares, Granted | 23,364,803 | |
Weighted Average Exercise Price, Granted | $ 2.75 | |
Aggregate Intrinsic Value, Granted | $ 57,689,800 | |
Shares, Exercised | ||
Weighted Average Exercise Price, Exercised | ||
Aggregate Intrinsic Value, Exercised | ||
Shares, Forfeited | ||
Weighted Average Exercise Price, Forfeited | ||
Aggregate Intrinsic Value, Forfeited | ||
Weighted Average Remaining Term, Granted | 2 years | |
Shares, Outstanding Ending Balance | 23,364,803 | |
Weighted Average Exercise Price, Ending Balance | $ 2.75 | |
Weighted Average Remaining Term, Outstanding, Ending balance | 1 year 6 months | |
Aggregate Intrinsic Value, Outstanding Ending Balance | $ 57,689,800 |