Victory Oilfield Tech (VYEY) 10-Q 15 Aug 22 2022 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2022	Aug. 15, 2022
Document Information Line Items
Entity Registrant Name	VICTORY OILFIELD TECH, INC.
Document Type	10-Q
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		28,037,713
Amendment Flag	false
Entity Central Index Key	0000700764
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Document Period End Date	Jun. 30, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	002-76219-NY
Entity Incorporation, State or Country Code	NV
Entity Tax Identification Number	87-0564472
Entity Address, Address Line One	3355 Bee Caves Road
Entity Address, Address Line Two	Suite 608
Entity Address, City or Town	Austin
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	78746
City Area Code	(512)
Local Phone Number	-347-7300
Entity Interactive Data Current	Yes

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Jun. 30, 2022	Dec. 31, 2021
Current Assets
Cash and cash equivalents	$ 30,067	$ 52,908
Accounts receivables, net	338,027	153,383
Inventory	22,181	24,915
Prepaid and other current assets	83,160	31,271
Total current assets	473,435	262,477
Property, plant and equipment, net	241,557	243,205
Goodwill	145,149	145,149
Other intangible assets, net	104,949	113,575
Total Assets	965,090	764,406
Current Liabilities
Accounts payable	142,755	100,754
Short term advance from shareholder	180,150	180,150
Current portion of long term notes payable	15,807	8,772
Accrued and other short term liabilities	112,152	66,826
Short term convertible notes payable - affiliate, net	3,706,476	3,550,276
Total current liabilities	4,157,340	3,906,778
Long term notes payable, net	264,253	239,850
Total long term liabilities	264,253	239,850
Total Liabilities	4,421,593	4,146,628
Stockholders’ Equity
Preferred Series D stock, $0.001 par value, 20,000 shares authorized, 8,333 shares and 8,333 shares issued and outstanding at June 30, 2022 and December 31, 2021, respectively	8	8
Common stock, $0.001 par value, 300,000,000 shares authorized, 28,037,713 shares and 28,037,713 shares issued and outstanding at June 30, 2022 and December 31, 2021, respectively	28,038	28,038
Receivable for stock subscription	(245,000)	(245,000)
Additional paid-in capital	95,750,830	95,750,830
Accumulated deficit	(98,990,379)	(98,916,098)
Total stockholders’ equity	(3,456,503)	(3,382,222)
Total Liabilities and Stockholders’ Equity	$ 965,090	$ 764,406

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - $ / shares	Jun. 30, 2022	Dec. 31, 2021
Common stock, par value (in Dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	300,000,000	300,000,000
Common stock, shares issued	28,037,713	28,037,713
Common stock, shares outstanding	28,037,713	28,037,713
Preferred Series D Stock
Preferred stock, par value (in Dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized	20,000	20,000
Preferred stock, shares issued	8,333	8,333
Preferred stock, shares outstanding	8,333	8,333

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Income Statement [Abstract]
Total revenue	$ 557,793	$ 205,895	$ 890,911	$ 362,267
Total cost of revenue	292,686	118,484	463,914	212,111
Gross profit	265,107	87,411	426,997	150,156
Operating expenses
Selling, general and administrative	349,130	261,540	576,451	451,523
Depreciation and amortization	5,483	5,126	10,744	10,252
Total operating expenses	354,613	266,666	587,195	461,775
Loss from operations	(89,506)	(179,255)	(160,198)	(311,619)
Other income (expense)
Other income	106,000	1,340	106,000	1,340
Interest expense	(9,517)	(11,336)	(20,083)	(23,626)
Total other income (expense)	96,483	(9,996)	85,917	(22,286)
Income (loss) applicable to common stockholders	6,977	$ (189,251)	$ (74,281)	$ (333,905)
Income (loss) per share applicable to common stockholders
Basic (in Dollars per share)	$ 0	$ (0.01)	$ 0	$ (0.01)
Diluted (in Dollars per share)	$ 0	$ (0.01)	$ 0	$ (0.01)
Weighted average common shares outstanding
Basic (in Shares)	28,073,713	28,073,713	28,073,713	28,073,713
Diluted (in Shares)	39,941,221	28,073,713	28,037,713	28,073,713

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (74,281)	$ (333,905)
Adjustments to reconcile net loss to net cash used in operating activities
Amortization of intangible assets	8,626	8,625
Depreciation	72,641	67,122
Amortization of original issue discount	14,200	22,100
Change in operating assets and liabilities:
Accounts receivable	(184,644)	(77,212)
Other receivables		48,560
Inventory	2,734	(17,211)
Prepaid and other current assets	(51,889)	(136,428)
Accounts payable	42,001	(25,726)
Accrued and other short term liabilities	45,326	124,118
Net cash used in operating activities	(125,286)	(319,957)
CASH FLOWS FROM INVESTING ACTIVITIES
Investment in fixed assets	(70,993)	(32,998)
Net cash used in investing activities	(70,993)	(32,998)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from notes payable - affiliate	142,000	221,000
Proceeds from long term note payable, net	31,438	98,623
Net cash provided by financing activities	173,438	319,623
Net change in cash and cash equivalents	(22,841)	(33,332)
Beginning cash and cash equivalents	52,908	192,337
Ending cash and cash equivalents	30,067	159,005
Cash paid for:
Interest	$ 5,675	$ 1,526

Statement of Stockholders' Equi

Statement of Stockholders' Equity (Unaudited) - USD ($)	Common Stock $0.001 Par Value	Preferred D $0.001 Par Value	Receivable for Stock Subscription	Additional Paid In Capital	Accumulated Deficit	Total
Balance at Dec. 31, 2020	$ 28,038	$ 8	$ (245,000)	$ 95,750,830	$ (98,655,239)	$ (3,121,363)
Balance (in Shares) at Dec. 31, 2020	28,037,713	8,333
Income (Loss) attributable to common stockholders					(333,905)	(333,905)
Balance at Jun. 30, 2021	$ 28,038	$ 8	(245,000)	95,750,830	(98,989,144)	(3,455,268)
Balance (in Shares) at Jun. 30, 2021	28,037,713	8,333
Balance at Mar. 31, 2021	$ 28,038	$ 8	(245,000)	95,750,830	(98,799,893)	(3,266,017)
Balance (in Shares) at Mar. 31, 2021	28,037,713	8,333
Income (Loss) attributable to common stockholders					(189,251)	(189,251)
Balance at Jun. 30, 2021	$ 28,038	$ 8	(245,000)	95,750,830	(98,989,144)	(3,455,268)
Balance (in Shares) at Jun. 30, 2021	28,037,713	8,333
Balance at Dec. 31, 2021	$ 28,038	$ 8	(245,000)	95,750,830	(98,916,098)	(3,382,222)
Balance (in Shares) at Dec. 31, 2021	28,037,713	8,333
Income (Loss) attributable to common stockholders					(74,281)	(74,281)
Balance at Jun. 30, 2022	$ 28,038	$ 8	(245,000)	95,750,830	(98,990,379)	(3,456,503)
Balance (in Shares) at Jun. 30, 2022	28,037,713	8,333
Balance at Mar. 31, 2022	$ 28,038	$ 8	(245,000)	95,750,830	(98,997,356)	(3,463,480)
Balance (in Shares) at Mar. 31, 2022	28,037,713	8,333
Income (Loss) attributable to common stockholders					6,977	6,977
Balance at Jun. 30, 2022	$ 28,038	$ 8	$ (245,000)	$ 95,750,830	$ (98,990,379)	$ (3,456,503)
Balance (in Shares) at Jun. 30, 2022	28,037,713	8,333

Organization and Basis of Prese

Organization and Basis of Presentation	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Organization and Basis of Presentation	1. Organization and Basis of Presentation Organization and nature of operations Victory Oilfield Tech, Inc. (“Victory”), a Nevada corporation, is an oilfield technology products company offering patented oil and gas drilling products designed to improve well performance and extend the lifespan of the industry’s most sophisticated and expensive equipment. On July 31, 2018, Victory entered into an agreement to acquire Pro-Tech Hardbanding Services, Inc., an Oklahoma corporation (“Pro-Tech”), which provides various hardbanding solutions to oilfield operators for drill pipe, weight pipe, tubing and drill collars. Basis of Presentation The accompanying unaudited consolidated financial statements include the accounts of Victory and Pro-Tech, its wholly owned subsidiary, for all periods presented. All significant intercompany transactions and accounts between Victory and Pro-Tech (together, the “Company”) have been eliminated. The preparation of the Company’s consolidated financial statements is in conformity with U.S. generally accepted accounting principles (“GAAP”), which requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses during the reporting period. Actual results could differ from those estimates. The accompanying unaudited consolidated financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and note disclosures normally included in annual financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to those rules and regulations, although the Company believes that the disclosures made are adequate to make the information not misleading. These unaudited consolidated financial statements should be read together with the consolidated financial statements and notes thereto included in the Company’s Annual Report on form 10-K for the year ended December 31, 2021. In the opinion of the Company’s management, the unaudited consolidated interim financial statements contained herein includes all normal recurring adjustments, necessary to present fairly the financial position of the Company as of June 30, 2022, and the results of its operations and cash flows for the three and six months ended June 30, 2022 and 2021. The results reported in these consolidated financial statements should not be regarded as necessarily indicative of results that may be expected for the full year or any future periods. Going Concern Historically the Company has experienced, and continues to experience, net losses, net losses from operations, negative cash flow from operating activities and working capital deficits. The Company has incurred an accumulated deficit of $(98,990,379) through June 30, 2022, and has a working capital deficit of $(3,683,905) at June 30, 2022. These conditions raise substantial doubt about the Company’s ability to continue as a going concern within one year after the date of issuance of the consolidated financial statements. The consolidated financial statements do not reflect any adjustments that might result if the Company was unable to continue as a going concern. The Company anticipates that operating losses will continue in the near term as management continues efforts to leverage the Company’s intellectual property through the platform provided by the acquisition of Pro-Tech and, potentially, other acquisitions. The Company intends to meet near-term obligations through funding under the New VPEG Note (See Note 8, Related Party Transactions In addition to increasing cash flow from operations, we will be required to obtain other liquidity resources in order to support ongoing operations. We are addressing this need by developing additional capital sources, which we believe will enable us to execute our recapitalization and growth plan. This plan includes the expansion of Pro-Tech’s core hardbanding business through additional drilling services and the development of additional products and services including wholesale materials, RFID enclosures and mid-pipe coating solutions. Based upon anticipated new sources of capital and ongoing near-term funding provided through the New VPEG Note, we believe we will have enough capital to cover expenses through at least the next twelve months. We will continue to monitor liquidity carefully. In the event we do not have enough capital to cover expenses, we will make the necessary and appropriate reductions in spending to remain cash flow positive. While management believes our plans help mitigate the substantial doubt that we are a going concern, there is no guarantee that our plans will be successful or if they are, will fully alleviate the conditions that raise substantial doubt that we are a going concern. Capital Resources During the six months ended June 30, 2022, the Company received loan proceeds of $142,000 from Visionary Private Equity Group I, LP (“VPEG”) through the New VPEG Note. As of the date of this report and for the foreseeable future the Company expects to cover operating shortfalls, if any, with funding through the New VPEG Note while we enact our strategy to become a technology-focused oilfield services company and seek additional sources of capital. As of the date of this report, the remaining amount available for the Company for additional borrowings on the New VPEG Note was approximately $293,524. The Company is actively seeking additional capital from VPEG and potential sources of equity and/or debt financing.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Revenue Recognition The Company recognizes revenue in accordance with Accounting Standards Codification 606, Revenue from Contracts with Customers (ASC606) The Company has one revenue stream, which relates to the provision of hardbanding services by its subsidiary Pro-Tech. All performance obligations of the Company’s contracts with customers are satisfied over the duration of the contract as customer-owned equipment is serviced and then made available for immediate use as completed during the service period. The Company has reviewed its contracts with Pro-Tech customers and determined that due to their short-term nature, with durations of several days of service at the customer’s location, it is only those contracts that occur near the end of a financial reporting period that will potentially require allocation to ensure revenue is recognized in the proper period. The Company has reviewed all such transactions and recorded revenue accordingly. For the three and six months ended June 30, 2022 and 2021, all of the Company’s revenue was recognized from contracts with oilfield operators. See Note 9 Segment and Geographic Information and Revenue Disaggregation Because the Company’s contracts have an expected duration of one year or less, the Company has elected the practical expedient in ASC 606-10-50-14(a) to not disclose information about its remaining performance obligations. Concentration of Credit Risk, Accounts Receivable and Allowance for Doubtful Accounts Financial instruments that potentially subject the Company to concentrations of credit risk primarily consist of cash and cash equivalents placed with high credit quality institutions and accounts receivable due from Pro-Tech’s customers. Management evaluates the collectability of accounts receivable based on a combination of factors. If management becomes aware of a customer’s inability to meet its financial obligations after a sale has occurred, the Company records an allowance to reduce the net receivable to the amount that it reasonably believes to be collectable from the customer. Accounts receivable are written off at the point they are considered uncollectible. An allowance of $1,458 and $5,002 has been recorded at June 30, 2022 and December 31, 2021, respectively. The Company suffered no bad debt losses in the six months ended June 30, 2022 and 2021, respectively. If the financial conditions of Pro-Tech’s customers were to deteriorate or if general economic conditions were to worsen, additional allowances may be required in the future. As of June 30, 2022 and December 31, 2021, two and three customers comprised 70% and 65% of the Company’s gross accounts receivables, respectively. For the three months ended June 30, 2022 and 2021, three and three customers comprised 72% and 65% of the Company’s total revenue, respectively. For the six months ended June 30, 2022 and 2021, three and two customers comprised 61% and 54% of the Company’s total revenue, respectively. Property, Plant and Equipment Property, Plant and Equipment is stated at cost. Maintenance and repairs are charged to expense as incurred and the costs of additions and betterments that increase the useful lives of the assets are capitalized. When property, plant and equipment is disposed of, the cost and related accumulated depreciation are removed from the consolidated balance sheets and any gain or loss is included in Other income/(expense) in the consolidated statements of operations. Depreciation is computed using the straight-line method over the estimated useful lives of the related assets, as follows: Asset category Useful Life Welding equipment, Trucks, Machinery and equipment 5 years Office equipment 5 - 7 years Computer hardware and software 7 years See Note 3, Property, Plant and Equipment Goodwill and Other Intangible Assets Finite-lived intangible assets are recorded at cost, net of accumulated amortization, and if applicable, impairment charges. Amortization of finite-lived intangible assets is provided over their estimated useful lives on a straight-line basis or the pattern in which economic benefits are consumed, if reliably determinable. The Company reviews its finite-lived intangible assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. We perform an impairment test of goodwill annually and whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. A goodwill impairment loss is recognized for the amount that the carrying amount of a reporting unit, including goodwill, exceeds its fair value, limited to the total amount of goodwill allocated to that reporting unit. We have determined that the Company is comprised of one reporting unit at June 30, 2022 and December 31, 2021, and the goodwill balances of $145,149 are included in the single reporting unit. To date, an impairment of goodwill has not been recorded. For the year ended December 31, 2021, we bypassed the qualitative assessment, and proceeded directly to the quantitative test for goodwill impairment. The Company’s Goodwill balance consists of the amount recognized in connection with the acquisition of Pro-Tech. The Company’s other intangible assets are comprised of contract-based and marketing-related intangible assets, as well as acquisition-related intangibles. Acquisition-related intangibles include the value of Pro-Tech’s trademark and customer relationships, both of which are being amortized over their expected useful lives of 10 years beginning August 2018. PPP Loans The Company accounts for loans issued pursuant to the Paycheck Protection Program (PPP) of the U.S. Small Business Administration as debt. The Company will continue to record the Second PPP Note as debt until either (1) the Second PPP Note is partially or entirely forgiven and the Company has been legally released, at which point the amount forgiven will be recorded as income or (2) the Company pays off the Second PPP Note. See Note 5, Notes Payable Business Combinations Business combinations are accounted for using the acquisition method of accounting. Under the acquisition method, assets acquired and liabilities assumed are recorded at their respective fair values as of the acquisition date in the Company’s consolidated financial statements. The excess of the fair value of consideration transferred over the fair value of the net assets acquired is recorded as goodwill. Share-Based Compensation The Company from time to time may issue stock options, warrants and restricted stock as compensation to employees, directors, officers and affiliates, as well as to acquire goods or services from third parties. In all cases, the Company calculates share-based compensation using the Black-Scholes option pricing model and expenses awards based on fair value at the grant date on a straight-line basis over the requisite service period. In the case of third-party suppliers, the service period is the shorter of the period over which services are to be received or the vesting period. For employees, directors, officers and affiliates, the service period is typically the vesting period. Share-based compensation is included in general and administrative expenses in the consolidated statements of operations. See Note 6, Stockholders’ Equity Income Taxes The Company accounts for income taxes in accordance with ASC 740, Income Taxes, Earnings per Share Basic earnings per share are computed using the weighted average number of common shares outstanding at June 30, 2022 and 2021, respectively. The weighted average number of common shares outstanding was 28,037,713 and 28,037,713, respectively, at June 30, 2022 and June 30, 2021. Diluted earnings per share reflect the potential dilutive effects of common stock equivalents such as options, warrants and convertible securities. For the three months ended June 30, 2022, the weighted average number of common shares has been adjusted to reflect the potential dilutive effects of the Company’s Preferred Series D Stock and outstanding convertible promissory notes. See Note 10, Earnings (Loss) Per Common Share, In May 2021, the FASB issued ASU 2021-04, Earnings Per Share (Topic 260), Debt - Modifications and Extinguishments (Subtopic 470-50), Compensation - Stock Compensation (Topic 718), and Derivatives and Hedging - Contracts in Entity’s Own Equity (Subtopic 815-40): Issuer’s Accounting for Certain Modifications or Exchanges of Freestanding Equity-Classified Written Call Options (“ASU 2021-04”). ASU 2021-04 provides guidance as to how an issuer should account for a modification of the terms or conditions or an exchange of a freestanding equity-classified written call option (i.e., a warrant) that remains classified after modification or exchange as an exchange of the original instrument for a new instrument. An issuer should measure the effect of a modification or exchange as the difference between the fair value of the modified or exchanged warrant and the fair value of that warrant immediately before modification or exchange and then apply a recognition model that comprises four categories of transactions and the corresponding accounting treatment for each category (equity issuance, debt origination, debt modification, and modifications unrelated to equity issuance and debt origination or modification). ASU 2021-04 is effective for all entities for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. An entity should apply the guidance provided in ASU 2021-04 prospectively to modifications or exchanges occurring on or after the effective date. The Company adopted ASU 2021-04 effective January 1, 2022. The adoption of ASU 2021-04 did not have any impact on the Company’s consolidated financial statement presentation or disclosures.

Property, Plant and Equipment

Property, Plant and Equipment	6 Months Ended
	Jun. 30, 2022
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	3. Property, Plant and Equipment Property, plant and equipment, at cost, consisted of the following: June 30, December 31, 2022 2021 Trucks $ 464,048 $ 393,055 Welding equipment 285,991 285,991 Office equipment 23,408 23,408 Machinery and equipment 18,663 18,663 Furniture and equipment 12,768 12,768 Computer hardware 8,663 8,663 Computer software 22,191 22,191 Total property, plant and equipment, at cost 835,732 764,739 Less -- accumulated depreciation (594,175 ) (521,534 ) Property, plant and equipment, net $ 241,557 $ 243,205 Depreciation expense for the three months ended June 30, 2022 and 2021 was $36,584 and $33,561, respectively. Depreciation expense for the six months ended June 30, 2022 and 2021 was $72,641 and $67,122 respectively

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	6 Months Ended
	Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	4. Goodwill and Other Intangible Assets The Company recorded $4,313 and $4,312 of amortization of intangible assets for the three months ended June 30, 2022 and 2021, respectively. The Company recorded $8,626 and $8,625 of amortization of intangible assets for the six months ended June 30, 2022 and 2021, respectively. The following table shows intangible assets other than goodwill and related accumulated amortization as of June 30, 2022 and December 31, 2021. June 30, December 31, Pro-Tech customer relationships $ 129,680 $ 129,680 Pro-Tech trademark 42,840 42,840 Accumulated amortization and impairment (67,571 ) (58,945 ) Other intangible assets, net $ 104,949 $ 113,575

Notes Payable

Notes Payable	6 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
Notes Payable	5. Notes Payable Paycheck Protection Program Loan On April 15, 2020, the Company received loan proceeds in the amount of $168,800 under the Paycheck Protection Program (the “PPP”). The PPP, established as part of the Coronavirus Aid, Relief and Economic Security Act of 2020 (the “CARES Act”) and administered by the U.S. Small Business Administration (the “SBA”), provides for loans to qualifying businesses for amounts up to 2.5 times of the average monthly payroll expenses of the qualifying business. The unsecured loan (the “First PPP Loan”) is evidenced by a promissory note (the “First PPP Note”) issued by the Company, dated April 14, 2020, in the principal amount of $168,800 with Arvest Bank. As of August 6, 2021, the Company received notice from Arvest Bank and the SBA that the full amount of the First PPP Loan had been forgiven. The amount forgiven, including principal of $168,800 and accrued interest of $2,373, has been recorded as other income in the consolidated statements of operations. The entire amount of recorded gain on forgiveness of the First PPP Loan will be excluded from income for tax purposes. The foregoing description of the First PPP Note does not purport to be complete and is qualified in its entirety by reference to the full text of the First PPP Note, a copy of which is filed as Exhibit 10.5 to the Quarterly Report on Form 10-Q for the periods ended June 30, 2020. On February 1, 2021, the Company received loan proceeds in the amount of $98,622 pursuant to a second draw loan under the PPP. The unsecured loan (the “Second PPP Loan”) is evidenced by a promissory note (the “Second PPP Note”) issued by the Company, dated January 28, 2021, in the principal amount of $98,622 with Arvest Bank. Under the terms of the Second PPP Note and the PPP, interest accrues on the outstanding principal at the rate of 1.0% per annum with a deferral of payments for the first 10 months. The term of the Second PPP Note is five years, though it may be payable sooner in connection with an event of default under the Second PPP Note. To the extent the amount of the Second PPP Loan is not forgiven under the PPP, the Company will be obligated to make equal monthly payments of principal and interest beginning after a ten-month deferral period provided in the Second PPP Note and through January 28, 2026. The CARES Act and the PPP provide a mechanism for forgiveness of up to the full amount borrowed. Under the PPP, the Company may apply for forgiveness for all or a part of the Second PPP Loan. The amount of the Second PPP Loan proceeds eligible for forgiveness is based on a formula established by the SBA. Subject to the other requirements and limitations on the Second PPP Loan forgiveness, only that portion of the Second PPP Loan proceeds spent on payroll and other eligible costs during the covered twenty-four-week period will qualify for forgiveness. Although the Company has used the entire amount of the Second PPP Loan for qualifying expenses, and although the Company has already obtained forgiveness for the full amount borrowed pursuant to the First PPP Loan, no assurance is provided that the Company will obtain forgiveness of the Second PPP Loan in whole or in part. The Second PPP Note may be prepaid in part or in full, at any time, without penalty. The Second PPP Note provides for certain customary events of default, including the Company’s: (i) failure to make a payment when due; (ii) breach of the note terms; (iii) default on any other loan with the Lender; (iv) filing of a bankruptcy petition by or against the Company; (v) reorganization merger, consolidation or other change in ownership or business structure without the Lender’s prior written consent; (vi) adverse change in financial condition or business operation that the Lender believes may affect the Company’s ability to pay the Second PPP Note; and (vii) default on any loan or agreement with another creditor, if the Lender believes the default may materially affect the Company’s ability to pay the Second PPP Note. Upon the occurrence of an event of default, the Lender has customary remedies and may, among other things, require immediate payment of all amounts owed under the Second PPP Note, collect all amounts owing from the Company and file suit and obtain judgment against the Company. The foregoing description of the Second PPP Note does not purport to be complete and is qualified in its entirety by reference to the full text of the Second PPP Note, a copy of which is filed as Exhibit 10.7 to the Quarterly Report on Form 10-Q for the periods ended June 30, 2020. Economic Injury Disaster Loan Additionally, on June 15, 2020, the Company received $150,000 in loan funding from the SBA under the Economic Injury Disaster Loan (“EIDL”) program administered by the SBA, which was expanded pursuant to the CARES Act. The EIDL is evidenced by a promissory note, dated June 11, 2020 (the “EIDL Note”) in the original principal amount of $150,000 with the SBA, the lender. Under the terms of the EIDL Note, interest accrues on the outstanding principal at the rate of 3.75% per annum. The term of the EIDL Note is 30 years, though it may be payable sooner upon an event of default under the EIDL Note. Under the EIDL Note, the Company is obligated to make equal monthly payments of principal and interest beginning in December 2022 through the maturity date of June 11, 2050. The EIDL Note may be prepaid in part or in full, at any time, without penalty. The Company made interest-only payments of $731 and $2,193 on the EIDL Note during the three and six months ended June 30, 2022, respectively. The Company made no payments on the EIDL Note during the three and six months ended June 30, 2021 The Company recorded interest expense of $1,671 and $1,579 related to the EIDL Note for the three months ended June 30, 2022 and 2021, respectively. The Company recorded interest expense of $3,324 and $3,250 related to the EIDL Note for the six months ended June 30, 2022 and 2021, respectively. The EIDL Note provides for certain customary events of default, including: (i) a failure to comply with any provision of the EIDL Note, the related Loan Authorization and Agreement, or other EIDL loan documents; (ii) a default on any other SBA loan; (iii) a sale or transfer of, or failure to preserve or account to SBA’s satisfaction for, any of the collateral or its proceeds; (iv) a failure of the Company or anyone acting on its behalf to disclose any material fact to SBA; (v) the making of a materially false or misleading representation to SBA by the Company or anyone acting on their behalf; (vi) a default on any loan or agreement with another creditor, if SBA believes the default may materially affect the Company’s ability to pay the EIDL Note; (vii) a failure to pay any taxes when due; (viii) if the Company becomes the subject of a proceeding under any bankruptcy or insolvency law; (ix) if a receiver or liquidator is appointed for any part of the Company’s business or property; (x) the making of an assignment for the benefit of creditors; (xi) has any adverse change in financial condition or business operation that SBA believes may materially affect the Company’s ability to pay the EIDL Note; (xii) effects any reorganization, merger, consolidation, or other transaction changing ownership or business structure without SBA’s prior written consent; or (xiii) becomes the subject of a civil or criminal action that SBA believes may materially affect the Company’s ability to pay the EIDL Note. The foregoing description of the EIDL Note does not purport to be complete and is qualified in its entirety by reference to the full text of the EIDL Note, a copy of which is filed as Exhibit 10.6 to the Quarterly Report on Form 10-Q for the periods ended June 30, 2020. New VPEG Note See Note 8, Related Party Transactions The Company recorded interest expense of $6,500 and $10,000 related to the New VPEG Note for the three months ended June 30, 2022 and 2021, respectively, and $14,200 and $22,100 for the six months ended June 30, 2022 and 2021, respectively. Vehicle Loan On June 14, 2022, Pro-Tech, the Company’s wholly-owned subsidiary, entered into a Promissory Note and Security Agreement in the amount of $31,437 with Arvest Bank for a vehicle loan (the “Vehicle Loan”). The Vehicle Loan, which is secured by the vehicle, is repayable over five years, matures June 15, 2027, and is repayable at the rate of $586 per month including principal and interest at a rate of 4.5% per annum. The monthly payments began on July 15, 2022. The remaining balance of the Vehicle Loan was $31,437 and $0 as of June 30, 2022 and 2021, respectively.

Stockholders_ Equity

Stockholders’ Equity	6 Months Ended
	Jun. 30, 2022
Stock Options [Abstract]
Stockholders’ Equity	6. Stockholders’ Equity Common Stock During the three and six months ended June 30, 2022 and 2021, the Company did not issue any shares of its common stock. Stock Options During the three and six months ended June 30, 2022 and 2021, the Company did not grant any stock awards to directors, officers, or employees. As of June 30, 2022, all share-based compensation for unvested options, net of expected forfeitures, was fully recognized. Warrants for Stock During the three and six months ended June 30, 2022 and 2021, the Company did not grant any warrants to purchase shares of its common stock.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	7. Commitments and Contingencies The Company is subject to legal claims and litigation in the ordinary course of business, including but not limited to employment, commercial and intellectual property claims. The outcome of any such matters is currently not determinable, and the Company is not actively involved in any ongoing litigation as of the date of this report. Rent expense for the three months ended June 30, 2022 and 2021 was $3,000 and $0, respectively, and $3,000 and $3,000 for the six months ended June 30, 2022 and 2021, respectively. The Company’s office space is leased on a month-to-month basis, and as such there are no future annual minimum payments as of June 30, 2022 and 2021, respectively.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2022
Related Party Transactions [Abstract]
Related Party Transactions	8. Related Party Transactions Settlement Agreement On August 21, 2017, the Company entered into a secured convertible original issue discount promissory note issued by the Company to VPEG (the “VPEG Note”). The VPEG Note was subsequently amended on October 11, 2017 and again on January 17, 2018. On April 10, 2018, the Company and Visionary Private Equity Group I, LP, a Missouri limited partnership (“VPEG”) entered into a settlement agreement and mutual release (the “Settlement Agreement”), pursuant to which VPEG agreed to release and discharge the Company from its obligations under the VPEG Note (see below). Pursuant to the Settlement Agreement, and in consideration and full satisfaction of the outstanding indebtedness of $1,410,200 under the VPEG Note, the Company issued to VPEG 1,880,267 shares of its common stock and a five-year warrant to purchase 1,880,267 shares of its common stock at an exercise price of $0.75 per share, to be reduced to the extent the actual price per share in a proposed future private placement (the “Proposed Private Placement”) is less than $0.75. The Company recorded share-based compensation of $11,281,602 in connection with the Settlement Agreement. On April 10, 2018, in connection with the Settlement Agreement, the Company and VPEG entered into a loan Agreement (the “New Debt Agreement”), pursuant to which VPEG loaned to the Company $2,000,000 under a secured convertible original issue discount promissory note (the “New VPEG Note”). The loans made pursuant to the New VPEG Note reflect a 10% original issue discount, do not bear interest in addition to the original issue discount, are secured by a security interest in all of the Company’s assets, and at the option of VPEG are convertible into shares of the Company’s common stock at a conversion price equal to $0.75 per share or, such lower price as shares of Common Stock are sold to investors in the Proposed Private Placement. On October 30, 2020, the Company and VPEG amended the New Debt Agreement to increase the loan amount to up to $3,000,000. On January 31, 2021, the Company and VPEG amended the New Debt Agreement to increase the loan amount to up to $3,500,000. On September 3, 2021, the Company and VPEG amended the New Debt Agreement to increase the loan amount to up to $4,000,000. See Note 5, Notes Payable

Segment and Geographic Informat

Segment and Geographic Information and Revenue Disaggregation	6 Months Ended
	Jun. 30, 2022
Segment Reporting [Abstract]
Segment and Geographic Information and Revenue Disaggregation	9. Segment and Geographic Information and Revenue Disaggregation The Company has one reportable segment: Hardband Services. Hardband Services provides various hardbanding solutions to oilfield operators for drill pipe, weight pipe, tubing and drill collars. All Hardband Services revenue is generated in the United States, and all assets related to Hardband Services are located in the United States. Because the Company operates with only one reportable segment in one geographical area, there is no supplementary revenue or asset information to present. To provide users of the financial statements with information depicting how the nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factors, we have disaggregated revenue by customer, with customers representing more than five percent of total annual revenues comprising the first category, and those representing less than five percent of total annual revenues comprising the second category. Three Months Ended Six Months Ended Category 2022 2021 2022 2021 > 5% $ 399,215 $ 160,413 $ 592,353 $ 245,854 < 5% 158,578 45,482 298,558 116,413 $ 557,793 $ 205,895 $ 890,911 $ 362,267

Earnings (Loss) Per Common Shar

Earnings (Loss) Per Common Share	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Earnings (Loss) Per Common Share	10. Earnings (Loss) Per Common Share Basic earnings (loss) per share is computed by dividing net income (loss) by the weighted average number of common shares outstanding at June 30, 2022 and 2021, respectively. Diluted earnings (loss) per share is similarly calculated, except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential shares had been issued and if the additional common shares were dilutive. All potentially dilutive shares, approximately 8,903,000 and 0 of potentially dilutive shares for the six months ended June 30, 2022 and 2021, respectively, and for the three months ended June 30, 2021, have been excluded from diluted loss per share, as their effect would be anti-dilutive for the periods then ended. Basic and diluted weighted average number of common shares outstanding was 28,037,713 and 28,037,713 for the six months ended June 30, 2022 and 2021, respectively. Basic weighted average number of common shares outstanding was 28,037,713 for the three months ended June 30, 2022 and 2021. Diluted weighted average number of common shares outstanding was 36,941,221 and 28,037,713 for the three months ended June 20, 2022 and 2021, respectively. The following table sets forth the computation of net loss per common share – basic and diluted: Three months ended Six months ended 2022 2021 2022 2021 Numerator: Net income (loss) $ 6,977 $ (189,251 ) $ (74,281 ) $ (333,905 ) Denominator Basic weighted average common shares outstanding 28,037,713 28,037,713 28,037,713 28,037,713 Effect of dilutive securities (1) Short term convertible notes payable – affiliate 4,941,968 - - - Preferred Series D stock 3,961,540 - - - Diluted weighted average common shares outstanding 36,941,221 28,037,713 28,037,713 28,037,713 Net income (loss) per common share Basic 0.00 (0.01 ) (0.00 ) (0.01 ) Diluted 0.00 (0.01 ) (0.00 ) (0.01 ) (1) These items have not been included in the computation of diluted loss per share for the six months ended June 20, 2022 because their effect would be anti-dilutive as a result of the net loss position for the six months ended June 30, 2022

Other Income

Other Income	6 Months Ended
	Jun. 30, 2022
Other Income and Expenses [Abstract]
Other Income	11. Other Income The Company reported other income for the three months ended June 30, 2022 of $106,000 which is attributable to a refund of federal payroll taxes as a result of provisions of the Coronavirus Aid, Relief, and Economic Security (CARES) Act (2020) and the Coronavirus Response and Consolidated Appropriations Act (2021). Other income of $1,340 which the Company reported for the three months ended June 30, 2021 was attributable to interest received on a refund of overpayment of income taxes.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2022
Subsequent Events [Abstract]
Subsequent Events	12. Subsequent Events During the period of July 1, 2022 through August 15, 2022 the Company received additional loan proceeds of $10,000 from VPEG pursuant to the New VPEG Note. See Note 5, Notes Payable In January 2020, the World Health Organization declared the outbreak of a novel coronavirus (COVID-19) as a “Public Health Emergency of International Concern,” which continues to spread throughout the world and has adversely impacted global commercial activity and contributed to significant declines and volatility in financial markets. The coronavirus outbreak and government responses are creating disruption in global supply chains and adversely impacting many industries. The outbreak could have a continued material adverse impact on economic and market conditions and trigger a period of global economic slowdown. The rapid development and fluidity of this situation precludes any prediction as to the ultimate material adverse impact of the coronavirus outbreak. Nevertheless, the outbreak presents uncertainty and risk with respect to the Company, its performance, and its financial results. We remain alert to the potential impacts of new variants, shutdowns or restrictions put in place on our future results of operations, financial condition and cash flows. The Company continues to actively monitor and manage supply chain challenges, including logistics, but thus far, there have been no significant disruptions caused by COVID-19. The Company is coordinating with its suppliers to identify and mitigate potential areas of risk and manage inventories.

Accounting Policies, by Policy

Accounting Policies, by Policy (Policies)	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Revenue Recognition	Revenue Recognition The Company recognizes revenue in accordance with Accounting Standards Codification 606, Revenue from Contracts with Customers (ASC606) The Company has one revenue stream, which relates to the provision of hardbanding services by its subsidiary Pro-Tech. All performance obligations of the Company’s contracts with customers are satisfied over the duration of the contract as customer-owned equipment is serviced and then made available for immediate use as completed during the service period. The Company has reviewed its contracts with Pro-Tech customers and determined that due to their short-term nature, with durations of several days of service at the customer’s location, it is only those contracts that occur near the end of a financial reporting period that will potentially require allocation to ensure revenue is recognized in the proper period. The Company has reviewed all such transactions and recorded revenue accordingly. For the three and six months ended June 30, 2022 and 2021, all of the Company’s revenue was recognized from contracts with oilfield operators. See Note 9 Segment and Geographic Information and Revenue Disaggregation Because the Company’s contracts have an expected duration of one year or less, the Company has elected the practical expedient in ASC 606-10-50-14(a) to not disclose information about its remaining performance obligations.
Concentration of Credit Risk, Accounts Receivable and Allowance for Doubtful Accounts	Concentration of Credit Risk, Accounts Receivable and Allowance for Doubtful Accounts Financial instruments that potentially subject the Company to concentrations of credit risk primarily consist of cash and cash equivalents placed with high credit quality institutions and accounts receivable due from Pro-Tech’s customers. Management evaluates the collectability of accounts receivable based on a combination of factors. If management becomes aware of a customer’s inability to meet its financial obligations after a sale has occurred, the Company records an allowance to reduce the net receivable to the amount that it reasonably believes to be collectable from the customer. Accounts receivable are written off at the point they are considered uncollectible. An allowance of $1,458 and $5,002 has been recorded at June 30, 2022 and December 31, 2021, respectively. The Company suffered no bad debt losses in the six months ended June 30, 2022 and 2021, respectively. If the financial conditions of Pro-Tech’s customers were to deteriorate or if general economic conditions were to worsen, additional allowances may be required in the future. As of June 30, 2022 and December 31, 2021, two and three customers comprised 70% and 65% of the Company’s gross accounts receivables, respectively. For the three months ended June 30, 2022 and 2021, three and three customers comprised 72% and 65% of the Company’s total revenue, respectively. For the six months ended June 30, 2022 and 2021, three and two customers comprised 61% and 54% of the Company’s total revenue, respectively.
Property, Plant and Equipment	Property, Plant and Equipment Property, Plant and Equipment is stated at cost. Maintenance and repairs are charged to expense as incurred and the costs of additions and betterments that increase the useful lives of the assets are capitalized. When property, plant and equipment is disposed of, the cost and related accumulated depreciation are removed from the consolidated balance sheets and any gain or loss is included in Other income/(expense) in the consolidated statements of operations. Depreciation is computed using the straight-line method over the estimated useful lives of the related assets, as follows: Asset category Useful Life Welding equipment, Trucks, Machinery and equipment 5 years Office equipment 5 - 7 years Computer hardware and software 7 years See Note 3, Property, Plant and Equipment
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets Finite-lived intangible assets are recorded at cost, net of accumulated amortization, and if applicable, impairment charges. Amortization of finite-lived intangible assets is provided over their estimated useful lives on a straight-line basis or the pattern in which economic benefits are consumed, if reliably determinable. The Company reviews its finite-lived intangible assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. We perform an impairment test of goodwill annually and whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. A goodwill impairment loss is recognized for the amount that the carrying amount of a reporting unit, including goodwill, exceeds its fair value, limited to the total amount of goodwill allocated to that reporting unit. We have determined that the Company is comprised of one reporting unit at June 30, 2022 and December 31, 2021, and the goodwill balances of $145,149 are included in the single reporting unit. To date, an impairment of goodwill has not been recorded. For the year ended December 31, 2021, we bypassed the qualitative assessment, and proceeded directly to the quantitative test for goodwill impairment. The Company’s Goodwill balance consists of the amount recognized in connection with the acquisition of Pro-Tech. The Company’s other intangible assets are comprised of contract-based and marketing-related intangible assets, as well as acquisition-related intangibles. Acquisition-related intangibles include the value of Pro-Tech’s trademark and customer relationships, both of which are being amortized over their expected useful lives of 10 years beginning August 2018.
PPP Loans	PPP Loans The Company accounts for loans issued pursuant to the Paycheck Protection Program (PPP) of the U.S. Small Business Administration as debt. The Company will continue to record the Second PPP Note as debt until either (1) the Second PPP Note is partially or entirely forgiven and the Company has been legally released, at which point the amount forgiven will be recorded as income or (2) the Company pays off the Second PPP Note. See Note 5, Notes Payable
Business Combinations	Business Combinations Business combinations are accounted for using the acquisition method of accounting. Under the acquisition method, assets acquired and liabilities assumed are recorded at their respective fair values as of the acquisition date in the Company’s consolidated financial statements. The excess of the fair value of consideration transferred over the fair value of the net assets acquired is recorded as goodwill.
Share-Based Compensation	Share-Based Compensation The Company from time to time may issue stock options, warrants and restricted stock as compensation to employees, directors, officers and affiliates, as well as to acquire goods or services from third parties. In all cases, the Company calculates share-based compensation using the Black-Scholes option pricing model and expenses awards based on fair value at the grant date on a straight-line basis over the requisite service period. In the case of third-party suppliers, the service period is the shorter of the period over which services are to be received or the vesting period. For employees, directors, officers and affiliates, the service period is typically the vesting period. Share-based compensation is included in general and administrative expenses in the consolidated statements of operations. See Note 6, Stockholders’ Equity
Income Taxes	Income Taxes The Company accounts for income taxes in accordance with ASC 740, Income Taxes,
Earnings per Share	Earnings per Share Basic earnings per share are computed using the weighted average number of common shares outstanding at June 30, 2022 and 2021, respectively. The weighted average number of common shares outstanding was 28,037,713 and 28,037,713, respectively, at June 30, 2022 and June 30, 2021. Diluted earnings per share reflect the potential dilutive effects of common stock equivalents such as options, warrants and convertible securities. For the three months ended June 30, 2022, the weighted average number of common shares has been adjusted to reflect the potential dilutive effects of the Company’s Preferred Series D Stock and outstanding convertible promissory notes. See Note 10, Earnings (Loss) Per Common Share, In May 2021, the FASB issued ASU 2021-04, Earnings Per Share (Topic 260), Debt - Modifications and Extinguishments (Subtopic 470-50), Compensation - Stock Compensation (Topic 718), and Derivatives and Hedging - Contracts in Entity’s Own Equity (Subtopic 815-40): Issuer’s Accounting for Certain Modifications or Exchanges of Freestanding Equity-Classified Written Call Options (“ASU 2021-04”). ASU 2021-04 provides guidance as to how an issuer should account for a modification of the terms or conditions or an exchange of a freestanding equity-classified written call option (i.e., a warrant) that remains classified after modification or exchange as an exchange of the original instrument for a new instrument. An issuer should measure the effect of a modification or exchange as the difference between the fair value of the modified or exchanged warrant and the fair value of that warrant immediately before modification or exchange and then apply a recognition model that comprises four categories of transactions and the corresponding accounting treatment for each category (equity issuance, debt origination, debt modification, and modifications unrelated to equity issuance and debt origination or modification). ASU 2021-04 is effective for all entities for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. An entity should apply the guidance provided in ASU 2021-04 prospectively to modifications or exchanges occurring on or after the effective date. The Company adopted ASU 2021-04 effective January 1, 2022. The adoption of ASU 2021-04 did not have any impact on the Company’s consolidated financial statement presentation or disclosures.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Schedule of estimated useful lives of the related assets	Asset category Useful Life Welding equipment, Trucks, Machinery and equipment 5 years Office equipment 5 - 7 years Computer hardware and software 7 years

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	6 Months Ended
	Jun. 30, 2022
Property, Plant and Equipment [Abstract]
Schedule of property, plant and equipment	June 30, December 31, 2022 2021 Trucks $ 464,048 $ 393,055 Welding equipment 285,991 285,991 Office equipment 23,408 23,408 Machinery and equipment 18,663 18,663 Furniture and equipment 12,768 12,768 Computer hardware 8,663 8,663 Computer software 22,191 22,191 Total property, plant and equipment, at cost 835,732 764,739 Less -- accumulated depreciation (594,175 ) (521,534 ) Property, plant and equipment, net $ 241,557 $ 243,205

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of intangible assets other than goodwill and related accumulated amortization	June 30, December 31, Pro-Tech customer relationships $ 129,680 $ 129,680 Pro-Tech trademark 42,840 42,840 Accumulated amortization and impairment (67,571 ) (58,945 ) Other intangible assets, net $ 104,949 $ 113,575

Segment and Geographic Inform_2

Segment and Geographic Information and Revenue Disaggregation (Tables)	6 Months Ended
	Jun. 30, 2022
Segment Reporting [Abstract]
Schedule of disaggregated revenue by customer	Three Months Ended Six Months Ended Category 2022 2021 2022 2021 > 5% $ 399,215 $ 160,413 $ 592,353 $ 245,854 < 5% 158,578 45,482 298,558 116,413 $ 557,793 $ 205,895 $ 890,911 $ 362,267

Earnings (Loss) Per Common Sh_2

Earnings (Loss) Per Common Share (Tables)	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Schedule of computation of net loss per common share – basic and diluted	Three months ended Six months ended 2022 2021 2022 2021 Numerator: Net income (loss) $ 6,977 $ (189,251 ) $ (74,281 ) $ (333,905 ) Denominator Basic weighted average common shares outstanding 28,037,713 28,037,713 28,037,713 28,037,713 Effect of dilutive securities (1) Short term convertible notes payable – affiliate 4,941,968 - - - Preferred Series D stock 3,961,540 - - - Diluted weighted average common shares outstanding 36,941,221 28,037,713 28,037,713 28,037,713 Net income (loss) per common share Basic 0.00 (0.01 ) (0.00 ) (0.01 ) Diluted 0.00 (0.01 ) (0.00 ) (0.01 ) (1) These items have not been included in the computation of diluted loss per share for the six months ended June 20, 2022 because their effect would be anti-dilutive as a result of the net loss position for the six months ended June 30, 2022

Organization and Basis of Pre_2

Organization and Basis of Presentation (Details) - USD ($)	6 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Accounting Policies [Abstract]
Accumulated deficit	$ (98,990,379)	$ (98,916,098)
Working capital deficit	(3,683,905)
Proceeds from received loan	142,000
Additional borrowings	$ 293,524

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details)	1 Months Ended	3 Months Ended		6 Months Ended		12 Months Ended
	Aug. 31, 2018	Jun. 30, 2022 USD ($)	Jun. 30, 2021	Jun. 30, 2022 USD ($) shares	Jun. 30, 2021 shares	Dec. 31, 2021 USD ($)
Summary of Significant Accounting Policies (Details) [Line Items]
Allowance (in Dollars)		$ 1,458		$ 1,458		$ 5,002
Goodwill (in Dollars)		$ 145,149		$ 145,149		$ 145,149
Useful life of contract-based intangible assets	10 years
Weighted average number of common shares outstanding (in Shares) | shares				28,037,713	28,037,713
Accounts Receivables [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Number of customer				2		3
Accounts receivable percentage				70%		65%
Total Revenues [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Number of customer		3	3	3	2
Total revenue percentage		72%	65%	61%	54%

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details) - Schedule of estimated useful lives of the related assets	6 Months Ended
	Jun. 30, 2022
Welding equipment, Trucks, Machinery and equipment [Member]
Summary of Significant Accounting Policies (Details) - Schedule of estimated useful lives of the related assets [Line Items]
Useful Life	5 years
Office equipment [Member] | Minimum [Member]
Summary of Significant Accounting Policies (Details) - Schedule of estimated useful lives of the related assets [Line Items]
Useful Life	5 years
Office equipment [Member] | Maximum [Member]
Summary of Significant Accounting Policies (Details) - Schedule of estimated useful lives of the related assets [Line Items]
Useful Life	7 years
Computer hardware and software [Member]
Summary of Significant Accounting Policies (Details) - Schedule of estimated useful lives of the related assets [Line Items]
Useful Life	7 years

Property, Plant and Equipment_2

Property, Plant and Equipment (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 36,584	$ 33,561	$ 72,641	$ 67,122

Property, Plant and Equipment_3

Property, Plant and Equipment (Details) - Schedule of property, plant and equipment - USD ($)	Jun. 30, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, at cost	$ 835,732	$ 764,739
Less -- accumulated depreciation	(594,175)	(521,534)
Property, plant and equipment, net	241,557	243,205
Trucks [Member]
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, at cost	464,048	393,055
Welding equipment [Member]
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, at cost	285,991	285,991
Office equipment [Member]
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, at cost	23,408	23,408
Machinery and equipment [Member]
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, at cost	18,663	18,663
Furniture and equipment [Member]
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, at cost	12,768	12,768
Computer hardware [Member]
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, at cost	8,663	8,663
Computer software [Member]
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, at cost	$ 22,191	$ 22,191

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of intangible assets	$ 4,313	$ 4,312	$ 8,626	$ 8,625

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets (Details) - Schedule of intangible assets other than goodwill and related accumulated amortization - USD ($)	Jun. 30, 2022	Dec. 31, 2021
Schedule of intangible assets other than goodwill and related accumulated amortization [Abstract]
Pro-Tech customer relationships	$ 129,680	$ 129,680
Pro-Tech trademark	42,840	42,840
Accumulated amortization and impairment	(67,571)	(58,945)
Other intangible assets, net	$ 104,949	$ 113,575

Notes Payable (Details)

Notes Payable (Details) - USD ($)

1 Months Ended

3 Months Ended

6 Months Ended

Jun. 14, 2022

Feb. 01, 2021

Apr. 15, 2020

Jun. 30, 2022

Jun. 30, 2021

Jun. 30, 2022

Jun. 30, 2021

Dec. 31, 2021

Aug. 06, 2021

Jan. 28, 2021

Jun. 15, 2020

Jun. 11, 2020

Apr. 14, 2020

Notes Payable (Details) [Line Items]

Loan proceeds

$ 98,622

Principal amount

$ 98,622

Accrued interest

$ 2,373

Accrued interest, percentage

1%

Term of notes

5 years

5 years

Interest expense

$ 1,671

$ 1,579

$ 3,324

$ 3,250

Security agreement amount

$ 31,437

Maturity date

Jun. 15, 2027

Loan term

5 years

Repayable rate

$ 586

Interest rate

4.50%

Vehicle loan

$ 31,437

0

Paycheck Protection Program Loan [Member]

Notes Payable (Details) [Line Items]

Loan proceeds

$ 168,800

Principal amount

$ 168,800

$ 168,800

EIDL Note [Member]

Notes Payable (Details) [Line Items]

Principal amount

$ 150,000

Accrued interest, percentage

3.75%

Term of notes

30 years

30 years

Received loan amount

$ 150,000

Interest expense

$ 731

$ 2,193

New VPEG Note [Member]

Notes Payable (Details) [Line Items]

Interest expense

6,500

$ 10,000

14,200

$ 22,100

Outstanding balance amount

$ 3,706,476

$ 3,706,476

$ 3,550,276

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Rent expense	$ 3,000	$ 0	$ 3,000	$ 3,000

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($)		1 Months Ended
	Apr. 10, 2018	Jan. 31, 2021	Sep. 03, 2021	Oct. 30, 2020
Related Party Transactions (Details) [Line Items]
Shares issued (in Shares)	1,880,267
Increase the loan amount			$ 4,000,000	$ 3,000,000
Sale of stock, consideration receivable on transaction		$ 3,500,000
Visionary Private Equity Group I, LP [Member]
Related Party Transactions (Details) [Line Items]
Shares issued (in Shares)	1,880,267
Investor [Member] | Visionary Private Equity Group I, LP [Member]
Related Party Transactions (Details) [Line Items]
Amount borrowed from related party	$ 1,410,200
Warrant exercise price (in Dollars per share)	$ 0.75
Stock price (in Dollars per share)	$ 0.75
Share based compensation	$ 11,281,602
Debt Agreement [Member] | Investor [Member] | Visionary Private Equity Group I, LP [Member]
Related Party Transactions (Details) [Line Items]
Maximum borrowing capacity	$ 2,000,000
Original issue debt discount percentage	10%
Debt conversion price (in Dollars per share)	$ 0.75

Segment and Geographic Inform_3

Segment and Geographic Information and Revenue Disaggregation (Details)	6 Months Ended
	Jun. 30, 2022
Segment Reporting [Abstract]
Number of reportable segment	1
Number of geographical area	1

Segment and Geographic Inform_4

Segment and Geographic Information and Revenue Disaggregation (Details) - Schedule of disaggregated revenue by customer - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Segment Reporting Information [Line Items]
Total annual revenues	$ 557,793	$ 205,895	$ 890,911	$ 362,267
More Than Five Percent [Member]
Segment Reporting Information [Line Items]
Total annual revenues	399,215	160,413	592,353	245,854
Less Than Five Percent [Member]
Segment Reporting Information [Line Items]
Total annual revenues	$ 158,578	$ 45,482	$ 298,558	$ 116,413

Earnings (Loss) Per Common Sh_3

Earnings (Loss) Per Common Share (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Earnings Per Share [Abstract]
Potentially dilutive share			8,903,000	0
Basic and diluted weighted average number of common shares outstanding			28,037,713	28,037,713
Basic weighted average number of common shares outstanding	28,037,713	28,037,713
Diluted weighted average number of common shares outstanding	36,941,221	28,037,713

Earnings (Loss) Per Common Sh_4

Earnings (Loss) Per Common Share (Details) - Schedule of computation of net loss per common share – basic and diluted - USD ($)		3 Months Ended		6 Months Ended
		Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Numerator:
Net income (loss) (in Dollars)		$ 6,977	$ (189,251)	$ (74,281)	$ (333,905)
Denominator
Basic weighted average common shares outstanding		28,037,713	28,037,713	28,037,713	28,037,713
Effect of dilutive securities (1)
Short term convertible notes payable – affiliate	[1]	4,941,968
Preferred Series D stock	[1]	3,961,540
Diluted weighted average common shares outstanding		36,941,221	28,037,713	28,037,713	28,037,713
Net income (loss) per common share
Basic (in Dollars per share)		$ 0	$ (0.01)	$ 0	$ (0.01)
Diluted (in Dollars per share)		$ 0	$ (0.01)	$ 0	$ (0.01)
[1] These items have not been included in the computation of diluted loss per share for the six months ended June 20, 2022 because their effect would be anti-dilutive as a result of the net loss position for the six months ended June 30, 2022

Other Income (Details)

Other Income (Details) - USD ($)	3 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Coronavirus Aid, Relief, and Economic Security [Member]
Other Income (Details) [Line Items]
Other income	$ 106,000	$ 1,340

Subsequent Events (Details)

Subsequent Events (Details)	1 Months Ended
	Aug. 15, 2022 USD ($)
Subsequent Event [Member]
Subsequent Events (Details) [Line Items]
Additional loan proceeds	$ 10,000