Cover
Cover - shares | 3 Months Ended | |
Mar. 31, 2022 | May 09, 2022 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Document Period End Date | Mar. 31, 2022 | |
Document Fiscal Period Focus | Q1 | |
Document Fiscal Year Focus | 2022 | |
Current Fiscal Year End Date | --12-31 | |
Entity File Number | 000-10210 | |
Entity Registrant Name | GLOBAL TECH INDUSTRIES GROUP, INC. | |
Entity Central Index Key | 0000356590 | |
Entity Tax Identification Number | 90-1604380 | |
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 Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 257,121,441 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) | Mar. 31, 2022 | Dec. 31, 2021 |
CURRENT ASSETS | ||
Cash and cash equivalents | $ 349,818 | $ 359,143 |
Accounts receivable | 78,721 | |
Inventory | 290,710 | |
Marketable securities | 136,000 | 163,000 |
Total Current Assets | 485,818 | 891,574 |
PROPERTY, PLANT & EQUIPMENT | ||
Fixed Assets (net) | 982 | 112,603 |
Right of use assets - Operating leases | 833,796 | |
Total Property. Plant and Equipment | 982 | 946,399 |
OTHER ASSETS | ||
License | 3,333 | 3,333 |
Fine art | 67,845 | 67,845 |
Security deposits | 67,808 | |
Goodwill | 6,443,559 | |
Total Other Assets | 71,178 | 6,582,545 |
TOTAL ASSETS | 557,978 | 8,420,518 |
CURRENT LIABILITIES | ||
Accounts payable and accrued expenses | 894,629 | 791,008 |
Accounts payable and accrued expenses-related parties | 817,560 | 590,060 |
Accrued interest payable | 441,266 | 387,982 |
Notes payable in default | 871,082 | 871,082 |
Notes payable | 972,000 | 922,000 |
Current Portion of operating lease liabilities | 274,222 | |
Current portion of long-term debt | 2,986 | |
Total Current Liabilities | 3,996,537 | 3,839,340 |
LONG TERM LIABILITIES | ||
Long-term operating lease liabilities | 559,574 | |
Note Payable | 147,014 | |
Total Long-term liabilities | 706,588 | |
Total Liabilities | 3,996,537 | 4,545,928 |
STOCKHOLDERS’ EQUITY (DEFICIT) | ||
Preferred stock, par value $.001, 50,000 authorized, 1,000 issued and outstanding | 1 | 1 |
Common stock, par value $0.001 per share, 550,000,000 shares authorized; 256,323,984 (including 16,000,000 shares held in escrow) and 255,790,585, issued and 240,323,984 and 239,790,585 outstanding, respectively | 256,325 | 255,791 |
Additional paid-in-capital | 231,522,829 | 237,626,395 |
Accumulated (Deficit) | (235,217,714) | (234,007,597) |
Total Stockholders’ Equity (Deficit) | (3,438,559) | 3,874,590 |
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT) | $ 557,978 | $ 8,420,518 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares | Mar. 31, 2022 | Dec. 31, 2021 |
Statement of Financial Position [Abstract] | ||
Preferred stock, par value | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized | 50,000 | 50,000 |
Preferred stock, shares issued | 1,000 | 1,000 |
Preferred stock, shares outstanding | 1,000 | 1,000 |
Common stock par value | $ 0.001 | $ 0.001 |
Common stock shares authorized | 550,000,000 | 550,000,000 |
Common stock shares issued | 256,323,984 | 255,790,585 |
Common stock shares held in escrow | 16,000,000 | 16,000,000 |
Common stock shares outstanding | 240,323,984 | 239,790,585 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations - USD ($) | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Income Statement [Abstract] | ||
REVENUES, net | ||
GROSS PROFIT (LOSS) | ||
OPERATING EXPENSES | ||
General and administrative | 55,216 | 39,138 |
Compensation and professional fees | 676,736 | 684,891 |
Charitable donations | 410,000 | |
Depreciation | 893 | 268 |
Total Operating Expenses | 1,142,845 | 724,297 |
OPERATING LOSS | (1,145,845) | (724,297) |
OTHER INCOME (EXPENSES) | ||
Unrealized Gain (Loss) on sale of marketable securities | (27,000) | 68,000 |
Interest expense | (58,527) | (19,445) |
Total Other Income (Expenses) | (85,527) | 48,555 |
LOSS BEFORE INCOME TAXES | (1,228,372) | (675,742) |
INCOME TAX EXPENSE | ||
COMPREHENSIVE LOSS | $ (1,228,372) | $ (675,742) |
BASIC AND DILUTED LOSS PER SHARE | $ (0.01) | $ (0.01) |
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING, BASIC AND DILUTED | 255,862,345 | 234,531,338 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Stockholders' Equity (Deficit) (Unaudited) - USD ($) | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Balance 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 | |||
Common stock issued for services | $ 4,500 | 466,500 | 471,000 | ||
Common stock issued for services, shares | 4,500,000 | ||||
Common stock issued and held in escrow for the potential acquisition of Gold Transactions Intl, Inc. | $ 6,000 | (6,000) | |||
Common stock 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 | |||
Common Stock issued and held in escrow for the potential acquisition of Classroom Salon, shares | |||||
Imputed interest – loan | (675,742) | (675,742) | |||
Net loss | $ 1 | $ 240,998 | 168,862,731 | (171,078,931) | (1,975,561) |
Balance, at Dec. 31, 2021 | $ 1 | $ 255,791 | 237,626,395 | (234,007,597) | 3,874,590 |
Balance, shares at Dec. 31, 2021 | 1,000 | 255,790,585 | |||
Common stock issued for services | $ 284 | 452,824 | 0 | 453,108 | |
Common stock issued for services, shares | 283,399 | ||||
Imputed interest – loan | 3,360 | 3,360 | |||
Net loss | (1,228,372) | (1,228,372) | |||
Common stock issued for charitable donation | $ 250 | 409,750 | 410,000 | ||
Common stock issued for charitable donation, shares | 250,000 | ||||
Reversal of acquisition | (6,969,500) | 18,255 | (6,951,245) | ||
Balance, at Mar. 31, 2022 | $ 1 | $ 256,325 | $ 231,522,829 | $ (235,217,714) | $ (3,438,559) |
Balance, shares at Mar. 31, 2022 | 1,000 | 256,323,984 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | Dec. 31, 2021 | |
CASH FLOWS FROM OPERATING ACTIVITIES | |||
Net loss | $ (1,228,372) | $ (675,742) | $ (1,975,561) |
Adjustments to reconcile net loss to net cash provided by (used in) operating activities (net of acquisition): | |||
Depreciation | 893 | 268 | |
Stock issued for services | 863,108 | 471,000 | |
Imputed interest on loan | 3,360 | 3,360 | |
(Gain) loss on marketable securities | 27,000 | (68,000) | |
Change in operating assets and liabilities | |||
Increase in accounts payable and accrued expenses | 173,038 | 20,734 | |
Increase in accounts payable and accrued expenses-related parties | 138,013 | 178,693 | |
Increase (decrease) in accrued interest payable | 55,081 | (2,831) | |
Net Cash Provided by (Used in) Operating Activities | 35,121 | (72,518) | |
CASH FLOWS FROM INVESTING ACTIVITIES | |||
Cash returned in acquisition reversal | (183,933) | ||
Net Cash Used in Investing Activities | (183,933) | ||
CASH FLOWS FROM FINANCING ACTIVITIES | |||
Proceeds from notes payable | 50,000 | 150,000 | |
Repayment of convertible debentures | (74,800) | ||
Payments to officers and directors | (250,470) | ||
Cash received from related parties | 339,558 | 51,615 | |
Net Cash Provided by Financing Activities | 139,486 | 126,815 | |
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | (9,324) | 54,297 | |
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD | 359,143 | 2,479 | 2,479 |
CASH AND CASH EQUIVALENTS, END OF PERIOD | 349,818 | 56,776 | $ 359,143 |
SUPPLEMENTAL DISCLOSURES: | |||
Cash paid for interest | |||
Cash paid for income taxes | |||
NON-CASH INVESTING AND FINANCING ACTIVITIES: | |||
Stock issued and held in escrow | $ 6,000 |
CONDENSED FINANCIAL STATEMENTS
CONDENSED FINANCIAL STATEMENTS | 3 Months Ended |
Mar. 31, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
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 March 31, 2022, and the results of operations and cash flows for the three 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, 2021. The results of operations for the period ended March 31, 2022 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, 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 March 31, 2022 |
SIGNIFICANT ACCOUNTING POLICIES
SIGNIFICANT ACCOUNTING POLICIES | 3 Months Ended |
Mar. 31, 2022 | |
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. 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 84,818 109,143 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 three months ended March 31, 2022 and 2021, 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 March 31, 2022 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 March 31, 2022 and December 31, 2021. 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 March 31, 2022 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 March 31, 2022 and December 31, 2021: SCHEDULE OF FAIR VALUE ASSETS AND LIABILITIES MEASURED ON RECURRING BASIS Level 1 Level 2 Level 3 Marketable Securities – March 31, 2022 $ 136,000 $ - 0 $ - 0 Marketable Securities – December 31, 2021 $ 163,000 $ - 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 SCHEDULE OF BASIC AND DILUTED PER SHARE For the Three Months Ended March 31, 2022 2021 Loss (numerator) $ (1,228,372 ) $ (675,742 ) Shares (denominator) 255,862,345 234,531,338 Basic and diluted loss per share $ (0.01 ) $ (0.01 ) 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 March 31, 2022 |
MARKETABLE SECURITIES
MARKETABLE SECURITIES | 3 Months Ended |
Mar. 31, 2022 | |
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 March 31, 2022 and December 31, 2021 amounted to $ 136,000 163,000 (27,000) 68,000 |
FIXED ASSETS
FIXED ASSETS | 3 Months Ended |
Mar. 31, 2022 | |
Property, Plant and Equipment [Abstract] | |
FIXED ASSETS | NOTE 4 - FIXED ASSETS Depreciation expense for the three months ended March 31, 2022 and 2021 was $ 893 and $ 268 , respectively. Fixed assets consist of the following: SCHEDULE OF FIXED ASSETS March 31, 2022 December 31, 2021 Equipment $ 5,000 $ 100,167 Furniture and fixtures 0 14,037 Total fixed assets 5,000 114,204 Accumulated Depreciation (4,018 ) (1,601 ) Net fixed assets $ 982 $ 112,603 |
LICENSES
LICENSES | 3 Months Ended |
Mar. 31, 2022 | |
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 % of the GTI shares are to be exchanged for $ 6,000,000 worth of Company’s shares ( 6,000,000 shares). These performance obligations included in the SPA have until September 30, 2022 to be met, the Company has transferred the Company’s shares to an escrow account and reported the shares as issued but not outstanding. 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 The term of the license is for 12 months with an automatic renewal for an additional 12 months. This asset was sold subsequent to March 31, 2022. Amortization expensed for the three months ended March 31, 2022 and 2021 is $ 0 1,042 SCHEDULE OF FINITE LIVED INTANGIBLE ASSETS March 31, 2022 December 31, License – Digital platform $ 5,000 $ 5,000 Total licensed assets $ 5,000 $ 5,000 GLOBAL TECH INDUSTRIES GROUP, INC. Notes to the Unaudited Condensed Consolidated Financial Statements March 31, 2022 |
FINE ART
FINE ART | 3 Months Ended |
Mar. 31, 2022 | |
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 |
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS | 3 Months Ended |
Mar. 31, 2022 | |
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 three months ended March, 2022 and 2021, Mr. Reichman advanced $ 258,887 and $ 51,615 , respectively, and was repaid $ 339,955 and $ 0 , respectively. At March 31, 2022 and December 31, 2021, the amounts owed to Mr. Reichman are $ 80,060 and $ 161,128 , 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 three months ended March 31, 2022 and 2021. The accrued wages for the three months ended March 31, 2022 and 2021 are $ 147,500 147,500 737,500 590,000 |
NOTES PAYABLE
NOTES PAYABLE | 3 Months Ended |
Mar. 31, 2022 | |
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 9 871,082 871,082 388,206 376,007 GLOBAL TECH INDUSTRIES GROUP, INC. Notes to the Unaudited Condensed Consolidated Financial Statements March 31, 2022 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 March 31, December 31, Interest Interest Expense Principal Principal Rate 3/30/2022 3/31/2021 Maturity $ 32,960 32,960 5.00 % 412 412 10/5/18 32,746 32,746 5.00 % 409 409 10/5/18 5,000 5,000 6.00 % 75 75 10/5/18 100,000 100,000 5.00 % 1,250 1,250 10/5/18 7,000 7,000 6.00 % 305 105 10/5/18 388,376 388,376 5.00 % 4,855 4,855 10/5/18 192,000 192,000 0 % 3,360 3,360 10/5/18 18,000 18,000 6.00 % 270 270 9/1/2002 30,000 30,000 6.00 % 450 450 9/12/2002 25,000 25,000 5.00 % 313 313 8/31/2000 40,000 40,000 7.00 % 700 700 7/10/2002 $ 871,082 $ 871,082 $ 12,199 $ 12,199 At March 31, 2022 and December 31, 2021, accrued interest on the outstanding notes payable (default and current) were $ 388,206 376,007 12,199 12,199 (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 , which was deducted from the proceeds, thus resulting in $ 68,000 net proceeds to the Company. The Company prepaid the debenture in February 2021, it incurred a 20 % pre-payment penalty, and expensed the OID in full during 2020. GLOBAL TECH INDUSTRIES GROUP, INC. Notes to the Unaudited Condensed Consolidated Financial Statements March 31, 2022 (d) NOTES On July 20, 2021, the Company received cash from an individual in the amount of $ 100,000 as a loan bearing interest at 5 %, with a term of 12 months of the date received. At March 31, 2022 and 2021, accrued interest on this note totals $ 4,184 and $ 2,684 , respectively. On August 6, 2021, the Company received cash from an individual in the amount of $ 100,000 as a loan bearing interest at 5 %, with a term of 12 months of the date received. At March 31, 2022 and 2021, accrued interest on this note totals $ 3,904 and $ 2,404 , respectively. On December 31, 2021 and March 30, 2022, the Company received cash from an individual in the amount of $722,000 and $ 50,000 6% 12 0 0 (e) Additional detail to all Notes Payable is as follows: SCHEDULE OF NOTES PAYABLE March 31, December 31, Interest Interest Expense Principal Principal Rate 3/31/2022 12/31/2021 Maturity $ 100,000 100,000 5.00 % 1,500 2,684 7/20/22 100,000 100,000 5.00 % 1,500 2,404 8/6/22 722,000 0 6.00 43,320 0 12/31/22 50,000 0 6.50 % 0 0 03/30/23 (f) IMPUTED INTEREST During the three months ended March 31, 2022 and 2021, the Company recorded imputed interest on a non-interest-bearing note in the amount of $ 3,360 3,360 |
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 3 Months Ended |
Mar. 31, 2022 | |
Commitments and Contingencies Disclosure [Abstract] | |
COMMITMENTS AND CONTINGENCIES | NOTE 9 – COMMITMENTS AND CONTINGENCIES T 250,000 three years . |
STOCKHOLDERS_ EQUITY (DEFICIT)
STOCKHOLDERS’ EQUITY (DEFICIT) | 3 Months Ended |
Mar. 31, 2022 | |
Equity [Abstract] | |
STOCKHOLDERS’ EQUITY (DEFICIT) | NOTE 10 - STOCKHOLDERS’ EQUITY (DEFICIT) ISSUANCES OF COMMON STOCK During the three months ended March 31, 2022 and 2021, the Company issued 533,399 and 10,500,000 shares of common stock with a fair market value of $ 863,108 and $ 471,000 , 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. GLOBAL TECH INDUSTRIES GROUP, INC. Notes to the Unaudited Condensed Consolidated Financial Statements March 31, 2022 In the first quarter of 2022 the major components, 131,923 shares were issued were for professional services to continue operating efforts and 250,000 shares for donations fair market value of $ 715,473 , 250,000 shares were issued for donations fair market value of $ 410,000 . In 2021 6,000,000 shares of common stock valued at $ 6,000,000 was issued and held in escrow for a stock purchase agreement of Gold Transactions international, Inc. and 4,500,000 shares were issued for professional services valued at $ 471,000 . 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 Stock option activity for the three months ended March 31, 2022 are as follows: SCHEDULE OF STOCK OPTION Weighted Weighted Average Average Aggregate Exercise Remaining Intrinsic Shares Price Term Value Outstanding at December 31,2021 4,500,664 $ .01 1 $ 427,563 Granted - - - - Exercised - - - - Forfeited - - - - Outstanding at March 31, 2022 4,500,664 $ .01 .75 $ 427,563 GLOBAL TECH INDUSTRIES GROUP, INC. Notes to the Unaudited Condensed Consolidated Financial Statements March 31, 2022 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, 2021 23,364,803 $ 2.75 2.0 $ 57,689,800 Granted - - - (8,471 ) Exercised (3,080 ) 2.75 - - Forfeited - - - - Outstanding at December 31, 2021 - $ - - $ - Granted 23,361,723 2.75 1.25 $ 57,681,330 Exercised - - - - Forfeited - - - - Outstanding at March 31, 2022 23,361,723 $ 2.75 1.00 $ 57,681,330 OTHER During the three months ended March 31, 2022 and 2021, the Company recorded imputed interest on a non-interest-bearing note in the amount of $ 3,360 3,360 GLOBAL TECH INDUSTRIES GROUP, INC. Notes to the Unaudited Condensed Consolidated Financial Statements March 31, 2022 |
LEGAL ACTIONS
LEGAL ACTIONS | 3 Months Ended |
Mar. 31, 2022 | |
Commitments and Contingencies Disclosure [Abstract] | |
LEGAL ACTIONS | NOTE 11 - LEGAL ACTIONS 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, Docket No.17-CV-03727. 43,649,491 50,649,491 7,000,000 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 March 31, 2022, 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 December 31, 2021, David Wells has not yet filed an answer to the Company’s complaint. On November 11, 2021, David Wells filed an action against GTII in the United States District Court for the District of Nevada,(Case 2:21-cv-02040) claiming a violation of the duty to register transfer of shares. As of March 31, 2022, the parties are engaged in briefing jurisdictional motions. 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 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 March 31, 2022, no ruling on that motion has been entered. |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 3 Months Ended |
Mar. 31, 2022 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | NOTE 12 – 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 April 19, 2022 the Company closed the sale of its Beyond Block Chain Business. Included in the terms of the sale was cash payment of $ 25,000 10 On May 9, 2022, the company declared and began distribution of a dividend to its shareholders as of May 9, 2022 in the form of a digital token, which can be traded on various cryptocurrency platforms, including trade.beyondblockchain.us. The Company is in ongoing discussions to unwind the recently completed acquisition of Bronx Eye Care and My Retina. While there are no definitive terms yet both sides agree that this would be the best course of action moving forward and would be effective January 1, 2022. As the result of this the Company did not include the results of Bronx Eye Care and My Retina’s results of operations or assets and liabilities in this filing. Through May 9, 2022 the company has issued 797,457 |
SIGNIFICANT ACCOUNTING POLICI_2
SIGNIFICANT ACCOUNTING POLICIES (Policies) | 3 Months Ended |
Mar. 31, 2022 | |
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. |
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. |
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 84,818 109,143 |
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. |
REVENUE RECOGNITION | E) REVENUE RECOGNITION The Company had no revenues during the three months ended March 31, 2022 and 2021, 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 March 31, 2022 |
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. |
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 March 31, 2022 and December 31, 2021. 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 March 31, 2022 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 March 31, 2022 and December 31, 2021: SCHEDULE OF FAIR VALUE ASSETS AND LIABILITIES MEASURED ON RECURRING BASIS Level 1 Level 2 Level 3 Marketable Securities – March 31, 2022 $ 136,000 $ - 0 $ - 0 Marketable Securities – December 31, 2021 $ 163,000 $ - 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 SCHEDULE OF BASIC AND DILUTED PER SHARE For the Three Months Ended March 31, 2022 2021 Loss (numerator) $ (1,228,372 ) $ (675,742 ) Shares (denominator) 255,862,345 234,531,338 Basic and diluted loss per share $ (0.01 ) $ (0.01 ) |
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. |
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. |
SIGNIFICANT ACCOUNTING POLICI_3
SIGNIFICANT ACCOUNTING POLICIES (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
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 March 31, 2022 and December 31, 2021: SCHEDULE OF FAIR VALUE ASSETS AND LIABILITIES MEASURED ON RECURRING BASIS Level 1 Level 2 Level 3 Marketable Securities – March 31, 2022 $ 136,000 $ - 0 $ - 0 Marketable Securities – December 31, 2021 $ 163,000 $ - 0 $ - 0 |
SCHEDULE OF BASIC AND DILUTED PER SHARE | SCHEDULE OF BASIC AND DILUTED PER SHARE For the Three Months Ended March 31, 2022 2021 Loss (numerator) $ (1,228,372 ) $ (675,742 ) Shares (denominator) 255,862,345 234,531,338 Basic and diluted loss per share $ (0.01 ) $ (0.01 ) |
FIXED ASSETS (Tables)
FIXED ASSETS (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Property, Plant and Equipment [Abstract] | |
SCHEDULE OF FIXED ASSETS | Fixed assets consist of the following: SCHEDULE OF FIXED ASSETS March 31, 2022 December 31, 2021 Equipment $ 5,000 $ 100,167 Furniture and fixtures 0 14,037 Total fixed assets 5,000 114,204 Accumulated Depreciation (4,018 ) (1,601 ) Net fixed assets $ 982 $ 112,603 |
LICENSES (Tables)
LICENSES (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
SCHEDULE OF FINITE LIVED INTANGIBLE ASSETS | SCHEDULE OF FINITE LIVED INTANGIBLE ASSETS March 31, 2022 December 31, License – Digital platform $ 5,000 $ 5,000 Total licensed assets $ 5,000 $ 5,000 |
NOTES PAYABLE (Tables)
NOTES PAYABLE (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Short-Term Debt [Line Items] | |
SCHEDULE OF NOTES PAYABLE | (b) Additional detail to all Notes Payable in Default is as follows: SCHEDULE OF NOTES PAYABLE March 31, December 31, Interest Interest Expense Principal Principal Rate 3/30/2022 3/31/2021 Maturity $ 32,960 32,960 5.00 % 412 412 10/5/18 32,746 32,746 5.00 % 409 409 10/5/18 5,000 5,000 6.00 % 75 75 10/5/18 100,000 100,000 5.00 % 1,250 1,250 10/5/18 7,000 7,000 6.00 % 305 105 10/5/18 388,376 388,376 5.00 % 4,855 4,855 10/5/18 192,000 192,000 0 % 3,360 3,360 10/5/18 18,000 18,000 6.00 % 270 270 9/1/2002 30,000 30,000 6.00 % 450 450 9/12/2002 25,000 25,000 5.00 % 313 313 8/31/2000 40,000 40,000 7.00 % 700 700 7/10/2002 $ 871,082 $ 871,082 $ 12,199 $ 12,199 |
Notes Payable [Member] | |
Short-Term Debt [Line Items] | |
SCHEDULE OF NOTES PAYABLE | (e) Additional detail to all Notes Payable is as follows: SCHEDULE OF NOTES PAYABLE March 31, December 31, Interest Interest Expense Principal Principal Rate 3/31/2022 12/31/2021 Maturity $ 100,000 100,000 5.00 % 1,500 2,684 7/20/22 100,000 100,000 5.00 % 1,500 2,404 8/6/22 722,000 0 6.00 43,320 0 12/31/22 50,000 0 6.50 % 0 0 03/30/23 |
STOCKHOLDERS_ EQUITY (DEFICIT)
STOCKHOLDERS’ EQUITY (DEFICIT) (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Equity [Abstract] | |
SCHEDULE OF STOCK OPTION | Stock option activity for the three months ended March 31, 2022 are as follows: SCHEDULE OF STOCK OPTION Weighted Weighted Average Average Aggregate Exercise Remaining Intrinsic Shares Price Term Value Outstanding at December 31,2021 4,500,664 $ .01 1 $ 427,563 Granted - - - - Exercised - - - - Forfeited - - - - Outstanding at March 31, 2022 4,500,664 $ .01 .75 $ 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, 2021 23,364,803 $ 2.75 2.0 $ 57,689,800 Granted - - - (8,471 ) Exercised (3,080 ) 2.75 - - Forfeited - - - - Outstanding at December 31, 2021 - $ - - $ - Granted 23,361,723 2.75 1.25 $ 57,681,330 Exercised - - - - Forfeited - - - - Outstanding at March 31, 2022 23,361,723 $ 2.75 1.00 $ 57,681,330 |
SCHEDULE OF FAIR VALUE ASSETS A
SCHEDULE OF FAIR VALUE ASSETS AND LIABILITIES MEASURED ON RECURRING BASIS (Details) - USD ($) | Mar. 31, 2022 | Dec. 31, 2021 |
Fair Value, Inputs, Level 1 [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Marketable Securities | $ 136,000 | $ 163,000 |
Fair Value, Inputs, Level 2 [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Marketable Securities | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Marketable Securities | $ 0 | $ 0 |
SCHEDULE OF BASIC AND DILUTED P
SCHEDULE OF BASIC AND DILUTED PER SHARE (Details) - USD ($) | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | Dec. 31, 2021 | |
Accounting Policies [Abstract] | |||
Loss (numerator) | $ (1,228,372) | $ (675,742) | $ (1,975,561) |
Shares (denominator) | 255,862,345 | 234,531,338 | |
Basic and diluted loss per share | $ (0.01) | $ (0.01) |
SIGNIFICANT ACCOUNTING POLICI_4
SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($) | 1 Months Ended | ||
Sep. 30, 2021 | Mar. 31, 2022 | Dec. 31, 2021 | |
Accounting Policies [Abstract] | |||
Deposits held with banks | $ 250,000 | ||
Cash | $ 84,818 | $ 109,143 | |
Anti-dilutive warrants excluded from calculation earnings per share | 4,500,664 |
MARKETABLE SECURITIES (Details
MARKETABLE SECURITIES (Details Narrative) - USD ($) | 3 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | Dec. 31, 2021 | |
Investments, Debt and Equity Securities [Abstract] | |||
Marketable securities | $ 136,000 | $ 163,000 | |
Gain/(loss) on sale of marketable securities | $ (27,000) | $ 68,000 |
SCHEDULE OF FIXED ASSETS (Detai
SCHEDULE OF FIXED ASSETS (Details) - USD ($) | Mar. 31, 2022 | Dec. 31, 2021 | Mar. 31, 2021 |
Property, Plant and Equipment [Line Items] | |||
Total fixed assets | $ 5,000 | $ 114,204 | |
Accumulated Depreciation | (4,018) | (1,601) | |
Net fixed assets | 982 | $ 112,603 | |
Computer Equipment [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Total fixed assets | 5,000 | $ 100,167 | |
Furniture and Fixtures [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Total fixed assets | $ 0 | $ 14,037 |
FIXED ASSETS (Details Narrative
FIXED ASSETS (Details Narrative) - USD ($) | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Property, Plant and Equipment [Abstract] | ||
Cost, Depreciation | $ 893 | $ 268 |
SCHEDULE OF FINITE LIVED INTANG
SCHEDULE OF FINITE LIVED INTANGIBLE ASSETS (Details) - USD ($) | Mar. 31, 2022 | Dec. 31, 2021 |
Finite-Lived Intangible Assets [Line Items] | ||
Total licensed assets | $ 5,000 | $ 5,000 |
Licensing Agreements [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
License – Digital platform | $ 5,000 | $ 5,000 |
LICENSES (Details Narrative)
LICENSES (Details Narrative) - USD ($) | May 01, 2021 | Feb. 28, 2021 | Mar. 31, 2022 | Mar. 31, 2021 | Dec. 31, 2021 |
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||
Stock Issued During Period, Value, Acquisitions | |||||
License term description | The term of the license is for 12 months with an automatic renewal for an additional 12 months. This asset was sold subsequent to March 31, 2022. Amortization expensed for the three months ended March 31, 2022 and 2021 is $0 and $1,042, respectively | ||||
Amortization expense | $ 0 | $ 1,042 | |||
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] | |||||
Stock Issued During Period, Value, Acquisitions | $ 6,000,000 | ||||
Stock Issued During Period, Shares, Acquisitions | 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 |
RELATED PARTY TRANSACTIONS (Det
RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($) | 3 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | Dec. 31, 2021 | |
Related Party Transaction [Line Items] | |||
Proceeds from Related Party Debt | $ 339,558 | $ 51,615 | |
Due to Related Parties | 80,060 | $ 161,128 | |
Officers [Member] | |||
Related Party Transaction [Line Items] | |||
Wages | 147,500 | 147,500 | |
Accrued wages | 737,500 | $ 590,000 | |
Mr Reichman [Member] | |||
Related Party Transaction [Line Items] | |||
Proceeds from Related Party Debt | 258,887 | 51,615 | |
Repayments of Debt | $ 339,955 | $ 0 |
SCHEDULE OF NOTES PAYABLE (Deta
SCHEDULE OF NOTES PAYABLE (Details) - USD ($) | 3 Months Ended | 12 Months Ended | ||||
Mar. 31, 2022 | Mar. 31, 2021 | Dec. 31, 2021 | Mar. 30, 2022 | Aug. 06, 2021 | Jul. 20, 2021 | |
Short-Term Debt [Line Items] | ||||||
Principal | $ 871,082 | $ 871,082 | ||||
Interest Expense | 12,199 | $ 12,199 | ||||
Total notes payable | $ 50,000 | $ 100,000 | $ 100,000 | |||
Notes Payable One [Member] | ||||||
Short-Term Debt [Line Items] | ||||||
Principal | $ 32,960 | $ 32,960 | ||||
Interest Rate | 5.00% | 5.00% | ||||
Interest Expense | $ 412 | $ 412 | ||||
Maturity | Oct. 5, 2018 | Oct. 5, 2018 | ||||
Notes Payable Two [Member] | ||||||
Short-Term Debt [Line Items] | ||||||
Principal | $ 32,746 | $ 32,746 | ||||
Interest Rate | 5.00% | 5.00% | ||||
Interest Expense | $ 409 | $ 409 | ||||
Maturity | Oct. 5, 2018 | Oct. 5, 2018 | ||||
Notes Payable Three [Member] | ||||||
Short-Term Debt [Line Items] | ||||||
Principal | $ 5,000 | $ 5,000 | ||||
Interest Rate | 6.00% | 6.00% | ||||
Interest Expense | $ 75 | $ 75 | ||||
Maturity | Oct. 5, 2018 | Oct. 5, 2018 | ||||
Notes Payable Four [Member] | ||||||
Short-Term Debt [Line Items] | ||||||
Principal | $ 100,000 | $ 100,000 | ||||
Interest Rate | 5.00% | 5.00% | ||||
Interest Expense | $ 1,250 | $ 1,250 | ||||
Maturity | Oct. 5, 2018 | Oct. 5, 2018 | ||||
Notes Payable Five [Member] | ||||||
Short-Term Debt [Line Items] | ||||||
Principal | $ 7,000 | $ 7,000 | ||||
Interest Rate | 6.00% | 6.00% | ||||
Interest Expense | $ 305 | $ 105 | ||||
Maturity | Oct. 5, 2018 | Oct. 5, 2018 | ||||
Notes Payable Six [Member] | ||||||
Short-Term Debt [Line Items] | ||||||
Principal | $ 388,376 | $ 388,376 | ||||
Interest Rate | 5.00% | 5.00% | ||||
Interest Expense | $ 4,855 | $ 4,855 | ||||
Maturity | Oct. 5, 2018 | Oct. 5, 2018 | ||||
Notes Payable Seven [Member] | ||||||
Short-Term Debt [Line Items] | ||||||
Principal | $ 192,000 | $ 192,000 | ||||
Interest Rate | 0.00% | 0.00% | ||||
Interest Expense | $ 3,360 | $ 3,360 | ||||
Maturity | Oct. 5, 2018 | Oct. 5, 2018 | ||||
Notes Payable Eight [Member] | ||||||
Short-Term Debt [Line Items] | ||||||
Principal | $ 18,000 | $ 18,000 | ||||
Interest Rate | 6.00% | 6.00% | ||||
Interest Expense | $ 270 | $ 270 | ||||
Maturity | Sep. 1, 2002 | Sep. 1, 2002 | ||||
Notes Payable Nine [Member] | ||||||
Short-Term Debt [Line Items] | ||||||
Principal | $ 30,000 | $ 30,000 | ||||
Interest Rate | 6.00% | 6.00% | ||||
Interest Expense | $ 450 | $ 450 | ||||
Maturity | Sep. 12, 2002 | Sep. 12, 2002 | ||||
Notes Payable Ten [Member] | ||||||
Short-Term Debt [Line Items] | ||||||
Principal | $ 25,000 | $ 25,000 | ||||
Interest Rate | 5.00% | 5.00% | ||||
Interest Expense | $ 313 | $ 313 | ||||
Maturity | Aug. 31, 2000 | Aug. 31, 2000 | ||||
Notes Payable Eleven [Member] | ||||||
Short-Term Debt [Line Items] | ||||||
Principal | $ 40,000 | $ 40,000 | ||||
Interest Rate | 7.00% | 7.00% | ||||
Interest Expense | $ 700 | $ 700 | ||||
Maturity | Jul. 10, 2002 | Jul. 10, 2002 | ||||
Note Payable One [Member] | ||||||
Short-Term Debt [Line Items] | ||||||
Interest Rate | 5.00% | 5.00% | ||||
Interest Expense | $ 1,500 | $ 2,684 | ||||
Maturity | Jul. 20, 2022 | Jul. 20, 2022 | ||||
Total notes payable | $ 100,000 | $ 100,000 | ||||
Note Payable Two [Member] | ||||||
Short-Term Debt [Line Items] | ||||||
Interest Rate | 5.00% | 5.00% | ||||
Interest Expense | $ 1,500 | $ 2,404 | ||||
Maturity | Aug. 6, 2022 | Aug. 6, 2022 | ||||
Total notes payable | $ 100,000 | $ 100,000 | ||||
Note Payable Three [Member] | ||||||
Short-Term Debt [Line Items] | ||||||
Interest Rate | 6.00% | 6.00% | ||||
Interest Expense | $ 43,320 | $ 0 | ||||
Maturity | Dec. 31, 2022 | Dec. 31, 2022 | ||||
Total notes payable | $ 722,000 | $ 0 | ||||
Note Payable Four [Member] | ||||||
Short-Term Debt [Line Items] | ||||||
Interest Rate | 6.50% | 6.50% | ||||
Interest Expense | $ 0 | $ 0 | ||||
Maturity | Mar. 30, 2023 | Mar. 30, 2023 | ||||
Total notes payable | $ 50,000 | $ 0 |
NOTES PAYABLE (Details Narrativ
NOTES PAYABLE (Details Narrative) - USD ($) | Nov. 27, 2021 | Aug. 06, 2021 | Jul. 20, 2021 | Nov. 27, 2020 | Mar. 31, 2022 | Mar. 31, 2021 | Mar. 30, 2022 | Dec. 31, 2021 |
Debt Instrument [Line Items] | ||||||||
Notes payable in default | $ 871,082 | $ 871,082 | ||||||
Accrued interest payable | 441,266 | 387,982 | ||||||
Interest Expense, Long-term Debt | 12,199 | $ 12,199 | ||||||
Convertible debenture | $ 74,800 | |||||||
Notes Payable | $ 100,000 | $ 100,000 | $ 50,000 | |||||
Debt Instrument, Term | 12 months | 12 months | ||||||
Imputed interest on loan | 3,360 | 3,360 | ||||||
Accrued Liabilities [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Accrued interest payable | 4,184 | 2,684 | ||||||
Convertible Debt [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Debt Instrument, Interest Rate, Stated Percentage | 10.00% | |||||||
Debt Instrument, Maturity Date | 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 | |||||||
Debt Conversion, Converted Instrument, Rate | 75.00% | |||||||
Debt Instrument, Unamortized Discount | $ 6,800 | |||||||
Proceeds from Convertible Debt | $ 68,000 | |||||||
Convertible Debt [Member] | Debt Instrument, Redemption, Period Two [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Debt Instrument, Redemption Price, Percentage | 20.00% | |||||||
Notes Payable [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Accrued interest | 388,206 | |||||||
Accrued interest payable | 0 | 0 | ||||||
Debt Instrument, Interest Rate, Stated Percentage | 6.00% | 5.00% | ||||||
Notes Payable [Member] | Accrued Liabilities [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Accrued interest payable | 3,904 | 2,404 | ||||||
Accrued Liabilities, Current | ||||||||
Debt Instrument [Line Items] | ||||||||
Accrued interest | 376,007 | |||||||
Note Payable [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Accrued interest payable | 388,206 | $ 376,007 | ||||||
Debt Instrument, Interest Rate, Stated Percentage | 5.00% | |||||||
Non Interest Bearing Debt [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Imputed interest on loan | $ 3,360 | $ 3,360 | ||||||
Minimum [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Notes bearing interest rate | 5.00% | |||||||
Maximum [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Notes bearing interest rate | 9.00% |
COMMITMENTS AND CONTINGENCIES (
COMMITMENTS AND CONTINGENCIES (Details Narrative) | 3 Months Ended |
Mar. 31, 2022shares | |
Periodic payments for charitable donation | 3 years |
Common Stock [Member] | |
Common stock issued for charitable donation, shares | 250,000 |
SCHEDULE OF STOCK OPTION (Detai
SCHEDULE OF STOCK OPTION (Details) | 3 Months Ended |
Mar. 31, 2022USD ($)$ / sharesshares | |
Equity [Abstract] | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number, Beginning Balance | shares | 4,500,664 |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Beginning Balance | $ / shares | $ 0.01 |
Weighted Average Remaining Term, Outstanding, Beginning Balance | 1 year |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | $ | $ 427,563 |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross | shares | |
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ / shares | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period | shares | |
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price | $ / shares | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Forfeitures in Period | shares | |
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Forfeitures in Period, Weighted Average Exercise Price | $ / shares | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number, Ending Balance | shares | 4,500,664 |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Ending Balance | $ / shares | $ 0.01 |
Weighted Average Remaining Term, Outstanding, Ending balance | 9 months |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | $ | $ 427,563 |
SCHEDULE OF WARRANTS ISSUANCE O
SCHEDULE OF WARRANTS ISSUANCE OF FAIR VALUE ASSUMPTIONS (Details) | Mar. 31, 2022 |
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, Term | 2 years |
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 ($) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2022 | Dec. 31, 2021 | |
Equity [Abstract] | ||
Shares Outstanding, Beginning Balance | 23,364,803 | |
Weighted Average Exercise Price, Beginning Balance | $ 2.75 | |
Weighted Average Remaining Term, Outstanding, Ending balance | 1 year | 2 years |
Aggregate Intrinsic Value, Outstanding Beginning Balance | $ 57,689,800 | |
Shares, Granted | 23,361,723 | |
Weighted Average Exercise Price, Granted | $ 2.75 | |
Aggregate Intrinsic Value, Granted | $ 57,681,330 | $ (8,471) |
Shares, Exercised | (3,080) | |
Weighted Average Exercise Price, Exercised | $ 2.75 | |
Aggregate Intrinsic Value, Exercised | ||
Shares, Forfeited | ||
Weighted Average Exercise Price, Forfeited | ||
Aggregate Intrinsic Value, Forfeited | ||
Weighted Average Remaining Term, Granted | 1 year 3 months | |
Shares, Outstanding Ending Balance | 23,361,723 | |
Weighted Average Exercise Price, Ending Balance | $ 2.75 | |
Aggregate Intrinsic Value, Outstanding Ending Balance | $ 57,681,330 |
STOCKHOLDERS_ EQUITY (DEFICIT_2
STOCKHOLDERS’ EQUITY (DEFICIT) (Details Narrative) - USD ($) | Dec. 19, 2020 | Mar. 31, 2022 | Mar. 31, 2021 | Dec. 31, 2021 | Mar. 22, 2021 |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||
Stock Issued During Period, Value, Issued for Services | $ 453,108 | $ 471,000 | |||
Common Stock, Par or Stated Value Per Share | $ 0.001 | $ 0.001 | |||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 23,364,803 | ||||
Dividends | $ 57,689,800 | ||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 2.75 | ||||
Warrants and Rights Outstanding, Maturity Date | Apr. 8, 2023 | ||||
Imputed interest on loan | 3,360 | $ 3,360 | |||
Non-Interest-Bearing Note [Member] | |||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||
Imputed interest on loan | $ 3,360 | $ 3,360 | |||
Share-Based Payment Arrangement, Option [Member] | Notes Payable Related Party [Member] | |||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||
Number of shares authorized to issued | 4,500,664 | ||||
Share price | $ 0.01 | ||||
Expiration period | 2 years | ||||
Stock Purchase Agreement [Member] | |||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||
Stock Issued During Period, Shares, Issued for Services | 131,923 | 4,500,000 | |||
Stock Issued During Period, Value, Issued for Services | $ 715,473 | $ 471,000 | |||
Stock Issued During Period, Shares, New Issues | 250,000 | 6,000,000 | |||
Stock Issued During Period, Value, New Issues | $ 410,000 | $ 6,000,000 | |||
Issuances of Common Stock [Member] | |||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||
Stock Issued During Period, Shares, Issued for Services | 533,399 | ||||
Stock Issued During Period, Value, Issued for Services | $ 863,108 | ||||
Common Stock [Member] | |||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||
Stock Issued During Period, Shares, Issued for Services | 283,399 | 10,500,000 | 4,500,000 | ||
Stock Issued During Period, Value, Issued for Services | $ 284 | $ 471,000 | $ 4,500 | ||
Warrant [Member] | |||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||
Common Stock, Par or Stated Value Per Share | $ 0.10 |
LEGAL ACTIONS (Details Narrativ
LEGAL ACTIONS (Details Narrative) - shares | May 14, 2021 | Oct. 02, 2019 | Aug. 24, 2021 | Aug. 16, 2021 | Mar. 31, 2022 |
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||
Settlement of preliminary shares return | |||||
Stock issued during period shares relief and relinguishment | 150,000 | ||||
Stock issued during period shares restrictive legends | 6,000,000 | ||||
Employment Agreement [Member] | |||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||
Settlement of preliminary shares return | 43,649,491 | ||||
Number of stock exchange, shares | 50,649,491 | ||||
Stock issued during period remaining shares | 7,000,000 |
SUBSEQUENT EVENTS (Details Narr
SUBSEQUENT EVENTS (Details Narrative) - Subsequent Event [Member] - USD ($) | May 09, 2022 | Apr. 19, 2022 |
Subsequent Event [Line Items] | ||
Number of shares issued | 797,457 | |
Beyond Block Chain Business [Member] | ||
Subsequent Event [Line Items] | ||
Cash payments | $ 25,000 | |
Beyond Block Chain Business [Member] | Parabolic Technologies [Member] | ||
Subsequent Event [Line Items] | ||
Interest on payments | 10.00% |