Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | |
Dec. 31, 2019 | Apr. 09, 2020 | |
Details | ||
Registrant CIK | 0000797564 | |
Fiscal Year End | --12-31 | |
Registrant Name | HST GLOBAL, INC. | |
SEC Form | 10-K | |
Period End date | Dec. 31, 2019 | |
Tax Identification Number (TIN) | 73-1215433 | |
Number of common stock shares outstanding | 4,247,993 | |
Public Float | $ 96,779 | |
Filer Category | Non-accelerated Filer | |
Current with reporting | Yes | |
Interactive Data Current | Yes | |
Voluntary filer | No | |
Well-known Seasoned Issuer | No | |
Shell Company | false | |
Small Business | true | |
Emerging Growth Company | false | |
Entity File Number | 000-15303 | |
Entity Incorporation, State or Country Code | NV | |
Entity Address, Address Line One | 150 Research Drive | |
Entity Address, City or Town | Hampton | |
Entity Address, State or Province | VA | |
Entity Address, Postal Zip Code | 23666 | |
City Area Code | 757 | |
Local Phone Number | 766-6100 | |
Amendment Flag | false | |
Document Fiscal Year Focus | 2019 | |
Document Fiscal Period Focus | FY | |
Document Annual Report | true | |
Document Transition Report | false |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 |
Current Assets | ||
Cash and cash equivalents | $ 1,955 | $ 0 |
Total Current Assets | 1,955 | 0 |
Total Assets | 1,955 | 0 |
LIABILITIES AND STOCKHOLDERS' DEFICIT | ||
Total Liabilities | 5,385 | 3,370,942 |
Stockholders' Deficit | ||
Preferred stock; 10,000,000 and 5,000,000 shares authorized, respectively, at $0.001 par value, - 0- shares issued and outstanding at December 31, 2019 and 2018 respectively | 0 | 0 |
Common stock; 200,000,000 and 100,000,000 shares authorized, respectively, at $0.001 par value, 4,247,993 and 2,447,991 shares issued and outstanding at December 31, 2019 and 2018, respectively | 4,248 | 2,448 |
Additional paid-in capital | 5,358,236 | 2,419,096 |
Accumulated deficit | (5,365,914) | (5,792,486) |
Total Stockholders' Deficit | (3,430) | (3,370,942) |
Current Liabilities | ||
Bank Overdrafts | 0 | 2,957 |
Accounts Payable and Accrued Liabilities, Current | 3,910 | 3,228 |
Accounts payable and accrued expenses - related parties | 1,475 | 505,959 |
Accrued officer compensation | 0 | 1,110,000 |
Accrued related party interest | 0 | 376,629 |
Notes payable - related party | 0 | 1,372,169 |
Total Current Liabilities | 5,385 | 3,370,942 |
Total Liabilities and Stockholders' Deficit | $ 1,955 | $ 0 |
CONSOLIDATED BALANCE SHEETS - P
CONSOLIDATED BALANCE SHEETS - Parenthetical - $ / shares | Dec. 31, 2019 | Dec. 31, 2018 |
Details | ||
Preferred Stock, Shares Authorized | 10,000,000 | 5,000,000 |
Preferred Stock, Par or Stated Value Per Share | $ 0.001 | $ 0.001 |
Preferred Stock, Shares Issued | 0 | 0 |
Preferred Stock, Shares Outstanding | 0 | 0 |
Common Stock, Shares Authorized | 200,000,000 | 100,000,000 |
Common Stock, Par or Stated Value Per Share | $ 0.001 | $ 0.001 |
Common Stock, Shares, Issued | 4,247,993 | 2,447,991 |
Common Stock, Shares, Outstanding | 4,247,993 | 2,447,991 |
Income Statement
Income Statement - USD ($) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Details | ||
Revenues | $ 0 | $ 0 |
Operating Expenses: | ||
Consulting | 80,206 | 120,000 |
General and administrative | 71,348 | 22,587 |
Total Operating Expenses | 151,554 | 142,587 |
Net Loss from Operations | (151,554) | (142,587) |
Other Income (Expense) | ||
Interest expense | (17,874) | (35,748) |
Gain on extinguishment of debt | 596,000 | 0 |
Total Other Income (Expense) | 578,126 | (35,748) |
NET INCOME/LOSS | $ 426,572 | $ (178,335) |
Earnings (Loss) Per Share: Basic and Diluted - Common | $ 0.13 | $ (0.07) |
Weighted Average Shares Outstanding: Basic and Diluted - Common | 3,268,814 | 2,447,990 |
Statement of Stockholders' Equi
Statement of Stockholders' Equity - 12 months ended Dec. 31, 2019 - USD ($) | Total | Common Stock | Additional Paid-in Capital | Retained Earnings |
Balance, December 31, 2018 at Dec. 31, 2018 | $ 2,448 | $ 2,419,096 | $ (5,792,486) | |
Balance, December 31, 2018 at Dec. 31, 2018 | 2,447,991 | 2,447,991 | ||
Conversion related party debt | $ 1,000 | 2,493,976 | 0 | |
Conversion related party debt | 1,000,000 | |||
Common stock issued for cash | $ 800 | 79,200 | 0 | |
Common stock issued for cash | 800,000 | |||
Derecognition of related party debt | $ 365,964 | $ 0 | 365,964 | 0 |
Net Income (Loss) | 0 | 0 | 426,572 | |
Balance, December 31, 2019 at Dec. 31, 2019 | $ 4,248 | $ 5,358,236 | $ (5,365,914) | |
Balance, December 31, 2019 at Dec. 31, 2019 | 4,247,993 | 4,247,993 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Cash Flows from Operating Activities: | ||
Net income (loss) | $ 426,572 | $ (178,335) |
Adjustments to reconcile net income (loss) to net cash used in operating activities: | ||
Gain on extinguishment of debt | 596,000 | 0 |
Changes in operating assets and liabilities: | ||
Bank overdraft payable | 2,957 | (2,957) |
Accounts payable and accrued expenses | 2,606 | (1,461) |
Accrued officer compensation | 60,000 | 120,000 |
Accrued related party interest | 17,874 | 35,748 |
Net Cash used in Operating Activities | (91,905) | (21,091) |
Cash Flows from Investing Activities: | ||
Net Cash used in Investing Activities | 0 | 0 |
Cash Flows from Financing Activities: | ||
Proceeds from sale of common stock | 80,000 | 0 |
Proceeds from notes payable - related party | 13,860 | 20,800 |
Net cash provided by financing activities | 93,860 | 20,800 |
Net change in cash | 1,955 | (291) |
Cash at Beginning of Period | 0 | 291 |
Cash at End of Period | 1,955 | 0 |
Supplemental Disclosures of Cash Flow Information | ||
Cash paid for interest | 0 | 0 |
Cash paid for taxes | 0 | 0 |
Supplemental schedule of non-cash investing and financing activities: | ||
Accounts payable and accrued expenses converted to common stock | 1,509,680 | 0 |
Notes payable and accrued interest converted to common stock | 985,296 | 0 |
Derecognition of related party debt | $ 365,964 | $ 0 |
NOTE 1 - ORGANIZATION AND PRINC
NOTE 1 - ORGANIZATION AND PRINCIPAL ACTIVITIES | 12 Months Ended |
Dec. 31, 2019 | |
Notes | |
NOTE 1 - ORGANIZATION AND PRINCIPAL ACTIVITIES | NOTE 1 - ORGANIZATION AND PRINCIPAL ACTIVITIES |
NOTE 2 - SIGNIFICANT ACCOUNTING
NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES | 12 Months Ended |
Dec. 31, 2019 | |
Notes | |
NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES | NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation Principles of Consolidation Accounting Method Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates. Cash and Cash Equivalents We maintain cash balances in non-interest-bearing accounts, which do not currently exceed federally insured limits. For the purpose of the statements of cash flows, all highly liquid investments with an original maturity of three months or less are considered to be cash equivalents. Income Taxes The Company accounts for income taxes in accordance with accounting guidance now codified as FASB ASC 740, " Income Taxes The Company applies the provisions of ASC 740, “ Accounting for Uncertainty in Income Taxes Basic and Diluted Loss Per Share The computations of basic loss per share of common stock are based on the weighted average number of shares outstanding at the date of the financial statements. The Company computes net income (loss) per share in accordance with ASC 260. ASC 260 requires presentation of both basic and diluted earnings per share (EPS) on the face of the income statement. Basic EPS is computed by dividing net income (loss) available to common shareholders (numerator) by the weighted average number of shares outstanding (denominator) during the period. Diluted EPS gives effect to all dilutive potential common shares outstanding during the period using the treasury stock method and convertible preferred stock using the if-converted method. In computing Diluted EPS, the average stock price for the period is used in determining the number of shares assumed to be purchased from the exercise of stock options or warrants. Diluted EPS excludes all dilutive potential shares if their effect is antidilutive. The Company had no common stock equivalents outstanding as of December 31, 2019 and 2018. Stock-Based Compensation The Company adopted ASC 718, “Stock Compensation”, Fair Value of Financial Instruments ASC 820 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (an exit price). The standard outlines a valuation framework and creates a fair value hierarchy in order to increase the consistency and comparability of fair value measurements and the related disclosures. Under this standard certain assets and liabilities must be measured at fair value, and disclosures are required for items measured at fair value. The Company currently does not have non-financial assets or non-financial liabilities that are required to be measured at fair value on a recurring basis. The Company’s financial assets and liabilities are measured using inputs from the three levels of the fair value hierarchy. The three levels are as follows: |
NOTE 3 - GOING CONCERN
NOTE 3 - GOING CONCERN | 12 Months Ended |
Dec. 31, 2019 | |
Notes | |
NOTE 3 - GOING CONCERN |
NOTE 4 - PROPOSED ASSET PURCHAS
NOTE 4 - PROPOSED ASSET PURCHASE AGREEMENT | 12 Months Ended |
Dec. 31, 2019 | |
Notes | |
NOTE 4 - PROPOSED ASSET PURCHASE AGREEMENT | NOTE 4 – PROPOSED ASSET PURCHASE AGREEMENT On August 9, 2019, we entered into an Asset Purchase Agreement (the “APA”) with Orbital Group, Inc., a Nevada corporation (the “Orbital”) to purchase Orbital’s contract rights to a revenue sharing agreement between Orbital and VeraClaim, Ltd (“VeraClaim”). Orbital had limited rights to market services and products known as and based on the RevSource Platform and its associated products and services owned by VeraClaim, globally. Based on the terms of the APA, we conducted various recapitalization measures including a reverse stock split and an increase in our authorized capital, further described in Note 8. The APA also required issuance of 19,500,000 shares of our common stock in consideration for the acquisition. On January 7, 2020, we terminated the APA due to nonpayment. |
NOTE 5 - ACCOUNTS PAYABLE AND A
NOTE 5 - ACCOUNTS PAYABLE AND ACCURED EXPENSES - RELATED PARTIES | 12 Months Ended |
Dec. 31, 2019 | |
Notes | |
NOTE 5 - ACCOUNTS PAYABLE AND ACCURED EXPENSES - RELATED PARTIES | NOTE 5 – ACCOUNTS PAYABLE AND ACCURED EXPENSES – RELATED PARTIES Accounts payable and accrued expenses - related parties consist of the following at December 31, 2019 and 2018: December 31, 2019 December 31, 2018 The Health Network, Inc. $ 1,475 $ 365,462 Ronald Howell - 43,770 Eric Clemons - 96,727 Total $ 1,475 $ 505,959 |
NOTE 6 - RELATED PARTY TRANSACT
NOTE 6 - RELATED PARTY TRANSACTIONS | 12 Months Ended |
Dec. 31, 2019 | |
Notes | |
NOTE 6 - RELATED PARTY TRANSACTIONS | NOTE 6 - RELATED PARTY TRANSACTIONS Notes Payable – Related Parties During the year ended December 31, 2019, the Company received $13,860 in additional cash loans from various related parties. During the year ended December 31, 2018, the Company received $20,800 in additional cash loans from various related parties. As of December 31, 2018, the Company had $1,372,169 in related party notes payable, which were converted into shares of common stock as part of the transaction described below in the section entitled “Related Party Debt Conversion.” As of December 31, 2019, the Company had $0 in related party notes payable. Total related party notes payable as of December 31, 2019 were $0. Executive Offices The Company's executive offices are located at 150 Research Dr., Hampton VA. These offices are leased by The Health Network, Inc. ("THN"), of which Ron Howell is President. THN allows the Company to use the office space without a formal sublease or rental agreement. Consulting Agreements The Company has entered into a consulting agreement with Mr. Howell, President of the Company, whereby the Company agreed to pay Mr. Howell $10,000 per month for consulting services through December 31, 2010. The Company had agreed to continue to engage Mr. Howell as a consultant until his consulting services are no longer required. The agreement was suspended from July, 2019 through December, 2019 due to the pendency of the APA, and has resumed beginning in January, 2020 due to the termination of the APA. As of December 31, 2019 and 2018, the Company owed Mr. Howell $0 and $1,040,000 under the consulting agreement, which was converted into shares of common stock as part of the transaction described below in the section entitled “Related Party Debt Conversion.” As of December 31, 2019, the Company owed Mr. Howell $0 under the consulting agreement. Related Party Debt Conversion Pursuant to an agreement entered into on June 28, 2019, Mr. Howell agreed to convert all debt owed to him and his affiliates into restricted common stock. The transaction included a total conversion amount of $2,494,976 exchanged for a total of 1,000,000 (15,000,000 pre split) shares of common stock in a series of debt exchange transactions. 1. Declassification of Related Party Debt Debt obligations owed by the following were declassified as debt and were written off. The declassified debt included; (i) accrued former officer compensation pursuant to a consulting arrangement dated October 1, 2007 of $70,000; (ii) accounts payable for amounts due prior to 2010 in the amount of approximately $96,718; (iii) subscription for securities dated May 13, 2008 stock and a promissory note in the amount of $200,000 as the obligation was extinguished by a third party; (iv) a promissory Note dated November 29, 2009 for $200,000; (v) a promissory Note dated May 7, 2008 and due June 20, 2008 for $100,000, together with accrued loan penalties of approximately $50,000; (vi) certain stockholder loans prior to 2010 for approximately $121,300; (vii) accrued related party interest for obligations prior to 2010 for $77,176; and (viii) accrued former related party interest for obligations prior to 2010 by other offices of approximately $46,000. Of the $961,204 in extinguished debt and payables, the company realized a total gain of $596,000, and has recorded $365,204 as additional paid in capital for related parties. |
NOTE 6 - COMMON STOCK
NOTE 6 - COMMON STOCK | 12 Months Ended |
Dec. 31, 2019 | |
Notes | |
NOTE 6 - COMMON STOCK | The securities described above were issued to investors in reliance upon the exemption from the registration requirements of the Securities Act, as set forth in section 4(2) under the Securities Act and Regulation D promulgated thereunder relating to transactions by an issuer not involving any public offering. |
NOTE 7 - INCOME TAXES
NOTE 7 - INCOME TAXES | 12 Months Ended |
Dec. 31, 2019 | |
Notes | |
NOTE 7 - INCOME TAXES | NOTE 8 – INCOME TAXES The Company follows ASC 740, under which deferred income taxes reflect the net effect of (a) temporary difference between carrying amounts of assets and liabilities for financial purposes and the amounts used for income tax reporting purposes, and (b) net operating loss carry-forwards. No net provision for refundable Federal income tax has been made |
NOTE 8 - SUBSEQUENT EVENTS
NOTE 8 - SUBSEQUENT EVENTS | 12 Months Ended |
Dec. 31, 2019 | |
Notes | |
NOTE 8 - SUBSEQUENT EVENTS | NOTE 9 – SUBSEQUENT EVENTS On January 7, 2020, the Company terminated the APA with Orbital for nonpayment. In accordance with ASC 855, Company management reviewed all material events through the date of this report and determined that there are no other material subsequent events to report. |
NOTE 2 - SIGNIFICANT ACCOUNTI_2
NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES: Basis of Presentation (Policies) | 12 Months Ended |
Dec. 31, 2019 | |
Policies | |
Basis of Presentation | Basis of Presentation |
NOTE 2 - SIGNIFICANT ACCOUNTI_3
NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES: Principles of Consolidation (Policies) | 12 Months Ended |
Dec. 31, 2019 | |
Policies | |
Principles of Consolidation | Principles of Consolidation |
NOTE 2 - SIGNIFICANT ACCOUNTI_4
NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES: Accounting Method (Policies) | 12 Months Ended |
Dec. 31, 2019 | |
Policies | |
Accounting Method | Accounting Method |
NOTE 2 - SIGNIFICANT ACCOUNTI_5
NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES: Use of Estimates (Policies) | 12 Months Ended |
Dec. 31, 2019 | |
Policies | |
Use of Estimates | Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates. |
NOTE 2 - SIGNIFICANT ACCOUNTI_6
NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES: Cash and Cash Equivalents (Policies) | 12 Months Ended |
Dec. 31, 2019 | |
Policies | |
Cash and Cash Equivalents |
NOTE 2 - SIGNIFICANT ACCOUNTI_7
NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES: Income Taxes (Policies) | 12 Months Ended |
Dec. 31, 2019 | |
Policies | |
Income Taxes |
NOTE 2 - SIGNIFICANT ACCOUNTI_8
NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES: Basic and Diluted Income (Loss) Per Share (Policies) | 12 Months Ended |
Dec. 31, 2019 | |
Policies | |
Basic and Diluted Income (Loss) Per Share |
NOTE 2 - SIGNIFICANT ACCOUNTI_9
NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES: Stock-Based Compensation (Policies) | 12 Months Ended |
Dec. 31, 2019 | |
Policies | |
Stock-Based Compensation |
NOTE 2 - SIGNIFICANT ACCOUNT_10
NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES: Fair Value of Financial Instruments (Policies) | 12 Months Ended |
Dec. 31, 2019 | |
Policies | |
Fair Value of Financial Instruments | Fair Value of Financial Instruments ASC 820 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (an exit price). The standard outlines a valuation framework and creates a fair value hierarchy in order to increase the consistency and comparability of fair value measurements and the related disclosures. Under this standard certain assets and liabilities must be measured at fair value, and disclosures are required for items measured at fair value. The Company currently does not have non-financial assets or non-financial liabilities that are required to be measured at fair value on a recurring basis. The Company’s financial assets and liabilities are measured using inputs from the three levels of the fair value hierarchy. The three levels are as follows: |
NOTE 2 - SIGNIFICANT ACCOUNT_11
NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES: Recently Issued Accounting Pronouncements (Policies) | 12 Months Ended |
Dec. 31, 2019 | |
Policies | |
Recently Issued Accounting Pronouncements |
NOTE 6 - RELATED PARTY TRANSA_2
NOTE 6 - RELATED PARTY TRANSACTIONS: Extinguishment of debt Policy (Policies) | 12 Months Ended |
Dec. 31, 2019 | |
Policies | |
Extinguishment of debt Policy | Declassification of Related Party Debt Debt obligations owed by the following were declassified as debt and were written off. The declassified debt included; (i) accrued former officer compensation pursuant to a consulting arrangement dated October 1, 2007 of $70,000; (ii) accounts payable for amounts due prior to 2010 in the amount of approximately $96,718; (iii) subscription for securities dated May 13, 2008 stock and a promissory note in the amount of $200,000 as the obligation was extinguished by a third party; (iv) a promissory Note dated November 29, 2009 for $200,000; (v) a promissory Note dated May 7, 2008 and due June 20, 2008 for $100,000, together with accrued loan penalties of approximately $50,000; (vi) certain stockholder loans prior to 2010 for approximately $121,300; (vii) accrued related party interest for obligations prior to 2010 for $77,176; and (viii) accrued former related party interest for obligations prior to 2010 by other offices of approximately $46,000. Of the $961,204 in extinguished debt and payables, the company realized a total gain of $596,000, and has recorded $365,204 as additional paid in capital for related parties. |
NOTE 7 - INCOME TAXES_ Schedule
NOTE 7 - INCOME TAXES: Schedule of Components of Income Tax Expense (Benefit) (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Tables/Schedules | |
Schedule of Components of Income Tax Expense (Benefit) |
NOTE 7 - INCOME TAXES_ Schedu_2
NOTE 7 - INCOME TAXES: Schedule of Deferred Tax Assets and Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Tables/Schedules | |
Schedule of Deferred Tax Assets and Liabilities |
NOTE 6 - RELATED PARTY TRANSA_3
NOTE 6 - RELATED PARTY TRANSACTIONS (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Notes payable - related party | $ 0 | $ 1,372,169 |
THN Offices | ||
Related Party Transaction, Description of Transaction | The Company's executive offices are located at 150 Research Dr., Hampton VA. These offices are leased by The Health Network, Inc. ("THN"), of which Ron Howell is President. THN allows the Company to use the office space without a formal sublease or rental agreement. | |
Howell Consulting Agreement | ||
Related Party Transaction, Description of Transaction | The Company has entered into a consulting agreement with Mr. Howell | |
Related Party Transaction, Amounts of Transaction | $ 10,000 | |
Accounts Payable, Related Parties | $ 0 | $ 1,040,000 |
Debt Conversion | ||
Related Party Transaction, Description of Transaction | Mr. Howell agreed to convert all debt owed to him and his affiliates into restricted common stock | |
Related Party Transaction, Amounts of Transaction | $ 2,494,976 | |
Related Party Transaction, Date | Jun. 28, 2019 | |
Conversion related party debt | 1,000,000 |
NOTE 6 - COMMON STOCK (Details)
NOTE 6 - COMMON STOCK (Details) - USD ($) | 3 Months Ended | 4 Months Ended |
Sep. 30, 2019 | Nov. 06, 2019 | |
Details | ||
Stockholders' Equity Note, Stock Split | effect a reverse stock split of all the outstanding shares of the Corporation’s common stock at an exchange ratio of 1 post-split share for 15 pre-split shares (1:15); | |
Common stock issued for cash | 800,000 | |
Common stock issued for cash | $ 80,000 |
NOTE 7 - INCOME TAXES_ Schedu_3
NOTE 7 - INCOME TAXES: Schedule of Components of Income Tax Expense (Benefit) (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Income tax benefit attributable to: | ||
Net operating loss | $ 89,580 | $ (37,450) |
Change in valuation allowance | (89,580) | 37,450 |
Net refundable amount | $ 0 | $ 0 |
NOTE 7 - INCOME TAXES_ Schedu_4
NOTE 7 - INCOME TAXES: Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 |
Deferred tax asset attributable to: | ||
Net operating loss carry forwards | $ (1,148,233) | $ (1,237,814) |
Common stock issued for services | 113,692 | 113,692 |
Valuation allowance | 1,034,542 | 1,124,122 |
Net deferred tax asset | $ 0 | $ 0 |
NOTE 8 - SUBSEQUENT EVENTS (Det
NOTE 8 - SUBSEQUENT EVENTS (Details) | 12 Months Ended |
Dec. 31, 2019 | |
APA Termination | |
Subsequent Event, Description | On January 7, 2020, the Company terminated the APA with Orbital for nonpayment. |