Coro Global (CGLO) 10-Q 23 Aug 21 2021 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2021	Aug. 19, 2021
Document Information Line Items
Entity Registrant Name	Coro Global Inc.
Document Type	10-Q
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		25,458,746
Amendment Flag	false
Entity Central Index Key	0000842013
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Document Period End Date	Jun. 30, 2021
Document Fiscal Year Focus	2021
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	033-25126-D
Entity Incorporation, State or Country Code	NV
Entity Tax Identification Number	85-0368333
Entity Address, Address Line One	78 SW 7th Street
Entity Address, Address Line Two	Suite 500
Entity Address, City or Town	Miami
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	33130
City Area Code	(866)
Local Phone Number	806-2676
Entity Interactive Data Current	Yes

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Jun. 30, 2021	Dec. 31, 2020
Current assets
Cash	$ 768,068	$ 583,825
Cash - restricted	113,060	151,722
Surety Bonds	26,631	48,918
Prepaid expenses	112,760	193,116
Total current assets	1,020,519	977,581
Equipment, net	8,835	8,204
Dino Might program	1,979	1,979
Total assets	1,031,333	987,764
Current liabilities
Accounts payable and accrued liabilities	668,511	402,576
Due to customers, net	125,087	283,175
Total current liabilities	793,598	685,751
Commitments and Contingencies
Preferred stock, $0.0001 par value: 10,000,000 shares authorized, 0 shares issued and outstanding on June 30, 2021 and December 31, 2020, respectively
Common stock, $0.0001 par value: 700,000,000 shares authorized; 25,458,746 and 25,113,746 shares issued and outstanding as of June 30, 2021 and December 31, 2020, respectively	2,545	2,511
Additional paid-in capital	46,614,189	44,943,714
Accumulated deficit	(46,378,999)	(44,644,212)
Total stockholders’ equity	237,735	302,013
Total liabilities and stockholders’ equity	$ 1,031,333	$ 987,764

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - $ / shares	Jun. 30, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Preferred stock, par value (in Dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (in Dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized	700,000,000	700,000,000
Common stock, shares issued	25,458,746	25,113,746
Common stock, shares outstanding	25,458,746	25,113,746

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Revenue
Transaction revenue	$ 641		$ 1,280
Transaction revenue - related party	21		476
Total	662		1,756
Operating expenses
Selling, general and administrative expenses	573,296	1,429,007	1,302,941	2,063,855
Development expense	246,059	273,466	433,602	488,506
Total operating expenses	819,355	1,702,473	1,736,543	2,552,361
Loss from operations	(818,693)	(1,702,473)	(1,734,787)	(2,552,361)
Other expenses
Interest expense		(165,000)		(165,000)
Total other expenses		(165,000)		(165,000)
Net loss	$ (818,693)	$ (1,867,473)	$ (1,734,787)	$ (2,717,361)
Net loss per common share: basic and diluted (in Dollars per share)	$ (0.03)	$ (0.08)	$ (0.07)	$ (0.11)
Weighted average common shares outstanding: basic and diluted (in Shares)	25,346,246	23,933,037	25,395,533	23,705,364

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Cash flows from operating activities
Net loss	$ (1,734,787)	$ (2,717,361)
Adjustments to reconcile net loss to net cash used in operating activities:
Common stock issued for services	170,509	857,408
Warrants issue for services		399,200
Common stock issued for debt extension		165,000
Depreciation	1,347	996
Amortization of prepaid expenses		(44,221)
Changes in operating assets and liabilities
Increase in surety bonds	22,287	(119,025)
Due to customers	(160,089)
Prepaid expenses and other current assets	80,356	5,636
Accounts payable and accrued liabilities	267,936
Net cash used in operating activities	(1,352,441)	(1,452,367)
Cash flows from investing activities
Purchase of Equipment	(1,978)
Net cash used in investing activities	(1,978)
Cash flow from financing activities
Proceeds from exercise of warrants		500
Repayments on notes payable - related party		(125,000)
Proceeds from issuance of common stock	1,500,000	2,185,000
Net cash provided by financing activities	1,500,000	2,060,500
Net increase in cash and cash equivalents	145,581	608,133
Cash and cash equivalents at beginning of period	735,547	470,800
Cash and cash equivalents at end of period	881,128	1,078,933
Supplemental disclosure of cash flow information:
Cash paid for interest
Cash paid for income taxes
Non-cash investing and financing activities:
Common stock issued note extension		$ 165,000

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders’ Equity (Deficit) - USD ($)	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Total
Balance at Dec. 31, 2019	$ 2,337	$ 39,276,760	$ (39,125,811)	$ 153,286
Balance (in Shares) at Dec. 31, 2019	23,372,746
Common stock issued for services	$ 7	342,493		342,500
Common stock issued for services (in Shares)	68,500
Sale of common stock	$ 44	2,184,956		2,185,000
Sale of common stock (in Shares)	437,500
Stock based compensation	$ 50	514,858		514,908
Stock based compensation (in Shares)	500,000
Warrants issued for services		399,200		399,200
Exercise of warrants	$ 8	492		500
Exercise of warrants (in Shares)	80,000
Common stock issued for note extension	$ 3	164,997		165,000
Common stock issued for note extension (in Shares)	33,000
Net loss			(2,717,361)	(2,717,361)
Balance at Jun. 30, 2020	$ 2,449	42,883,817	(41,843,172)	1,043,033
Balance (in Shares) at Jun. 30, 2020	24,491,246
Balance at Mar. 31, 2020	$ 2,357	40,568,980	(39,975,699)	595,638
Balance (in Shares) at Mar. 31, 2020	23,572,746
Common stock issued for services	$ 7	342,493		342,500
Common stock issued for services (in Shares)	68,500
Sale of common stock	$ 24	1,184,976		1,185,000
Sale of common stock (in Shares)	237,000
Stock based compensation	$ 50	222,668		222,668
Stock based compensation (in Shares)	500,000
Warrants issued for services		399,200		399,200
Exercise of warrants	$ 8	500		500
Exercise of warrants (in Shares)	80,000
Common stock issued for note extension	$ 3	165,000		165,000
Common stock issued for note extension (in Shares)	33,000
Net loss			(1,867,473)	(1,867,473)
Balance at Jun. 30, 2020	$ 2,449	42,883,817	(41,843,172)	1,043,033
Balance (in Shares) at Jun. 30, 2020	24,491,246
Balance at Dec. 31, 2020	$ 2,511	44,943,714	(44,644,212)	302,013
Balance (in Shares) at Dec. 31, 2020	25,113,746
Sale of common stock	$ 30	1,499,970		1,500,000
Sale of common stock (in Shares)	300,000
Stock based compensation	$ 4	170,505		170,509
Stock based compensation (in Shares)	45,000
Net loss			(1,734,787)	(1,734,787)
Balance at Jun. 30, 2021	$ 2,545	46,614,189	(46,378,999)	237,735
Balance (in Shares) at Jun. 30, 2021	25,458,746
Balance at Mar. 31, 2021	$ 2,543	46,577,066	(45,560,306)	1,019,303
Balance (in Shares) at Mar. 31, 2021	25,436,246
Stock based compensation	$ 2	37,123		37,125
Stock based compensation (in Shares)	22,500
Net loss			(818,693)	(818,693)
Balance at Jun. 30, 2021	$ 2,545	$ 46,614,189	$ (46,378,999)	$ 237,735
Balance (in Shares) at Jun. 30, 2021	25,458,746

Business, Going Concern and Sig

Business, Going Concern and Significant Accounting Policies	6 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
BUSINESS, GOING CONCERN AND SIGNIFICANT ACCOUNTING POLICIES	NOTE 1 — BUSINESS, GOING CONCERN AND SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying unaudited consolidated financial statements of Coro Global, Inc., a Nevada corporation (the “Company”), have been prepared in accordance with the instructions to Form 10-Q and do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete consolidated financial statements. These unaudited consolidated financial statements and related notes should be read in conjunction with the Company’s Form 10-K for the fiscal year ended December 31, 2020 filed with the SEC on March 31, 2021. In the opinion of management, these unaudited consolidated financial statements reflect all adjustments that are of a normal recurring nature and which are necessary to present fairly the financial position of the Company as of June 30, 2021, and the results of operations and cash flows for the three and six months ended June 30, 2021 and 2020. The results of operations for the six months ended June 30, 2021 are not necessarily indicative of the results that may be expected for the entire fiscal year. Principle of Consolidation The accompanying financial statements present on a consolidated basis the accounts of the Company and its wholly owned subsidiary, Coro Corp., which was organized in the State of Nevada on September 14, 2018. All significant intercompany accounts and transactions have been eliminated in consolidation. Nature of Business Operations Coro Global Inc. is a Nevada corporation that was originally formed on November 1, 2005. On September 14, 2018 the Company formed a wholly owned subsidiary, Coro Corp. The Company is focused on dynamic global growth opportunities in the financial technology (Fintech) industry. Effective January 9, 2020, the Company changed its name to Coro Global Inc. The Company has developed a Fintech product that uses advanced distributed ledger technology for improved security, speed, and reliability. In August 2020 the Company released its CORO payment product and commenced its commercialization. Covid-19 Pandemic The Company’s operations have been materially and adversely impacted by the Covid-19 pandemic. The Company is located in Dade County, Florida which was subject to a “stay at home” order effective March 26, 2020, and which was lifted effective May 20, 2020. The effect of Covid-19 on the business has since been limited to experiencing delays in obtaining registrations and/or licenses from various state governmental agencies due to staff being temporarily suspended or working remotely. Going Concern The accompanying consolidated financial statements have been prepared assuming the Company will continue as a going concern. The Company reported a net loss of $1,734,787 for the six months ended June 30, 2021 and has an accumulated deficit of $46,378,999 as of June 30, 2021. The losses raise substantial doubt about the Company’s ability to continue as a going concern. We will need to raise additional capital in order to continue operations. The Company’s ability to obtain additional financing may be affected by the success of its growth strategy and its future performance, each of which is subject to general economic, financial, competitive, legislative, regulatory and other factors beyond the Company’s control. Additional capital may not be available on acceptable terms, or at all. Financing transactions may include the issuance of equity or debt securities, obtaining credit facilities, or other financing mechanisms. Further, if we issue additional equity or debt securities, stockholders may experience additional dilution or the new equity securities may have rights, preferences or privileges senior to those of existing holders of our common stock. If additional financing is not available or is not available on acceptable terms, we will have to curtail or cease our operations. The financial statements do not include any adjustments relating to the recoverability and classification of recorded assets, or the amounts of and classification of liabilities that might be necessary in the event the Company cannot continue in existence. These financial statements do not include any adjustments that might arise from this uncertainty. Cash and Cash Equivalents For purposes of these financial statements, cash and cash equivalents includes highly liquid debt instruments with maturity of less than three months. Restricted cash are funds that belong to the Company’s clients and is held at financial institutions. Concentrations of Credit Risk Financial instruments and related items, which potentially subject the Company to concentrations of credit risk, consist primarily of cash and cash equivalents. The Company places its cash and temporary cash investments with high credit quality institutions. At times, such investments may be in excess of the FDIC insurance limit. Currently our operating accounts are approximately $255,625 above the FDIC limit. Advertising The Company follows the policy of charging the costs of advertising to expense as incurred. The Company incurred $35,528, $110,328, $125,381 and $125,381, respectively for advertising costs for the three and six months ended June 30, 2021 and 2020. Income Taxes The Company accounts for income taxes under the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements. Under this method, deferred tax assets and liabilities are determined based on the differences between the financial statements and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date. The Company records net deferred tax assets to the extent the Company believes these assets will more likely than not be realized. In making such determination, the Company considers all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax planning strategies and recent financial operations. A valuation allowance is established against deferred tax assets that do not meet the criteria for recognition. In the event the Company were to determine that it would be able to realize deferred income tax assets in the future in excess of their net recorded amount, the Company would make an adjustment to the valuation allowance which would reduce the provision for income taxes. The Company follows the accounting guidance which provides that a tax benefit from an uncertain tax position may be recognized when it is more likely than not that the position will be sustained upon examination, including resolutions of any related appeals or litigation processes, based on the technical merits. Income tax positions must meet a more-likely-than-not recognition threshold at the effective date to be recognized initially and in subsequent periods. Also included is guidance on measurement, recognition, classification, interest and penalties, accounting in interim periods, disclosure, and transition. Property and Equipment Property and equipment are stated at cost. When retired or otherwise disposed, the related carrying value and accumulated depreciation are removed from the respective accounts and the net difference less any amount realized from disposition, is reflected in earnings. Minor additions and renewals are expensed in the year incurred. Major additions and renewals are capitalized and depreciated over their estimated useful lives being 3 years up to 5 years Computer and equipment costs consisted of the following: June 30, December 31, Computer equipment and software $ 14,454 $ 12,469 Accumulated depreciation (5,619 ) (4,273 ) Balance $ 8,835 $ 8,204 Revenue Recognition Effective January 1, 2018, the Company recognizes revenue in accordance with Accounting Standards Codification 2014-09, Revenue from Contracts with Customers (Topic 606), which supersedes the revenue recognition requirements in Topic 605, Revenue Recognition, and most industry-specific revenue recognition guidance throughout the Industry Topics of the Accounting Standards Codification. The updated guidance states that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance also provides for additional disclosures with respect to revenues and cash flows arising from contracts with customers. As of June 30, 2021 and December 31, 2020 the Company recorded a liability of $125,087 and $283,175 for amounts owed to customers for the purchase of gold. Fair Value of Financial Instruments Cash, Due to Customers, Prepaid and Other Current Assets, Accounts Payable, Accrued Salaries and Wages and Other Current Liabilities. The carrying amounts of these items approximated fair value. Fair value is defined 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. To increase the comparability of fair value measures, Financial Accounting Standards Board (“FASB”) ASC Topic 820-10-35 establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1 measurement) and the lowest priority to unobservable inputs (level 3 measurements). Level 1 Level 2 Level 3 Impairment of Long Lived Assets In accordance with Accounting Standards Codification (“ASC”) 360-10, Accounting for the Impairment or Disposal of Long-Lived Assets, long-lived assets to be held and used are analyzed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. ASC 360-10 relates to assets that can be amortized and the life can be determinable. The Company reviews property and equipment and other long-lived assets for impairment annually, or whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability is measured by comparison of the asset’s carrying amount to future undiscounted net cash flows the assets are expected to generate. Cash flow forecasts are based on trends of historical performance and management’s estimate of future performance, giving consideration to existing and anticipated competitive and economic conditions. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds the projected discounted future cash flows arising from the assets or their fair values, whichever is more determinable. Leases In February 2016, the FASB issued ASU 2016-02, Leases Net Loss per Share Basic and diluted loss per share amounts are computed based on net loss divided by the weighted average number of common shares outstanding. Convertible shares, if converted, totaling 0 were not included in the computation of diluted loss per share because the assumed conversion and exercise would be anti-dilutive as there were no potentially dilutive instruments as of June 30, 2021 and 2020. Management Estimates The presentation 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 at 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. Stock Based Compensation The Company accounts for employee compensation related to stock, options or warrants using a fair value-based method whereby compensation cost is measured at the grant date based on the value of the award and is recognized over the service period, which is usually the vesting period. The Company accounts for nonemployee compensation related to stock, options or warrants using a fair value-based method whereby compensation cost is measured at the earlier of a commitment date or completion of services based on the value of the award and is recognized over the service period. The Company uses the Black-Scholes pricing model to calculate the fair value of options and warrants issued to both employees and non-employees. Stock issued for compensation is valued using the market price of the stock on the measurement date. Reclassifications Certain 2020 balances have been reclassified in the 2021 financial statement presentation Recent Accounting Pronouncements All other newly issued accounting pronouncements not yet effective have been deemed either immaterial or not applicable.

Deferred Stock-Based Compensati

Deferred Stock-Based Compensation - Related Party	6 Months Ended
	Jun. 30, 2021
Deffered Compensation Related Party [Abstract]
DEFERRED STOCK-BASED COMPENSATION - RELATED PARTY	2. DEFERRED STOCK-BASED COMPENSATION - RELATED PARTY Effective May 18, 2018, the Company appointed J. Mark Goode as the President and Chief Executive Officer of the Company. He was also appointed a member and Chairman of the Board of Directors of the Company. On May 31, 2019, the Company entered into amendment no. 1 to the Company’s employment agreement with Mr. Goode. Pursuant to the amendment, the Company’s obligation to issue additional shares of common stock as compensation to Mr. Goode was amended, such that, the Company issued to Mr. Goode and his designee 750,000 shares of common stock upon execution of the amendment, and the Company had no further obligation to issue to Mr. Goode shares under the employment agreement. On May 31, 2019 the Company recorded the conversion of deferred compensation to common stock of $2,162,408 for the issuance of these shares to additional paid in capital and common stock. The Company recorded $300,995 for the additional value of the common stock for the vesting of the award during the year ended December 31, 2019. The Company recorded $622,107 for the additional value of the common stock for the vesting of the award during the year ended December 31, 2020. The Company recorded $35,733 for the additional value of the common stock for the vesting of the award during the six months ended June 30, 20201 As of June 30, 2021 and December 31, 2020 the unvested amount of the awards was $0 and $171,285, respectively. On December 29, 2020, the Company entered into amendment No. 2 to the Company’s employment agreement with J. Mark Goode. Pursuant to the amendment, Mr. Goode’s employment with the Company continued until January 31, 2021, and Mr. Goode agreed to resign as President, Chairman, and Chief Executive Officer of the Company effective December 31, 2020. From the period January 1, 2021 to January 31, 2021 Mr. Goode was entitled to his base salary and any other regular compensation under the employment agreement and agreed to assist the Company in the Company’s transition to a new Chief Executive Officer. Mr. Goode agreed that he would return 250,000 shares of the Company’s common stock if he were not serving as Chief Executive Officer of the Company as of December 30, 2020, and agreed to return 62,500 shares of common stock to the Company upon expiration of the employment agreement on January 31, 2021. On December 31, 2020, Mr. Goode submitted his resignation as Director, President and Chief Executive Officer of the Company, effective at 11:59 p.m. on December 31, 2020.

Notes Payable _ Related Party

Notes Payable – Related Party	6 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
NOTES PAYABLE – RELATED PARTY	3. NOTES PAYABLE – RELATED PARTY On July 15, 2016, the Company issued a 7% promissory note to a significant shareholder in the principal amount of $100,000. The note had an initial one-year term. On April 9, 2019, the maturity date of the note was extended to June 30, 2019. On April 12, 2019, the Company entered into an exchange agreement with The Vantage Group Ltd. (“Vantage”), which held the note, pursuant to which Vantage exchanged a portion of this note, in the amount of $50,000, for 10,000 newly issued shares of common stock of the Company. The Company repaid the remaining balance of $50,000. Vantage is owned by Lyle Hauser, formerly the Company’s largest stockholder. The changes in this note payable to related party are reflected in the following at June 30, 2021 and December 31, 2020: At 2021 At 2020 Note Payable $ - $ - Accrued interest $ 14,820 $ 14,820 The Company evaluated the modification under ASC 470-50 and concluded the deletion of the conversion qualifies for debt modification which triggered debt extinguishment; however, there was no impact to the income statement as there was no unamortized discounts or other fees paid on the under the prior debt terms.

Equity

Equity	6 Months Ended
	Jun. 30, 2021
Stockholders' Equity Note [Abstract]
EQUITY	4. EQUITY On May 31, 2019, the Company entered into amendment no. 1 to the Company’s employment agreement with Mr. Goode. Pursuant to the amendment, the Company’s obligation to issue additional shares of common stock as compensation to Mr. Goode was amended, such that, the Company issued to Mr. Goode and his designee 750,000 shares of common stock upon execution of the amendment, and the Company had no further obligation to issue to Mr. Goode shares under the employment agreement. On May 31, 2019 the Company recorded the conversion of deferred compensation to common stock of $2,162,408 for the issuance of these shares to additional paid in capital and common stock. The Company recorded $300,995 for the additional value of the common stock for the vesting of the award during the year ended December 31, 2019. The Company recorded $622,107 for the additional value of the common stock for the vesting of the award during the year ended December 31, 2020. The Company recorded $35,733 for the additional value of the common stock for the vesting of the award during the six months ended June 30, 2021 As of June 30, 2021 and December 31, 2020 the unvested amount of the awards was $0 and $171,285, respectively. During the six months ended June 30, 2020 the Company entered into securities purchase agreements with accredited investors pursuant to which the Company issued and sold an aggregate of 200,000 shares of common stock for an aggregate purchase price of $1,000,000. During the three and six months ended June 30, 2021, the Company issued a total of 22,500 and 45,000 shares of common stock, respectively valued at $37,125 ($1.65 per share) and $170,510 ($3.79 per share), respectively to the Company’s independent directors for services. During the six months ended June 30, 2021, the Company entered into securities purchase agreements with accredited investors pursuant to which the Company issued and sold an aggregate of 300,000 shares of common stock for an aggregate purchase price of $1,500,000, of which 6,000 shares for $30,000 were purchased by our former Chairman Lou Naser.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	5. COMMITMENTS AND CONTINGENCIES In December 2018, we entered into a software license agreement with Swirlds to license Hashgraph for the Coro platform, and on June 23, 2020, the agreement was amended and restated (as amended, the “Swirlds Agreement”). Pursuant to the Swirlds Agreement, the Company extended its license from Swirlds of Hashgraph technology for use in the Company’s Coro payment platform. The term and fees of such license will be as set forth in any applicable order form. In connection with the Swirlds Agreement, the Company and Swirlds executed an order form (the “Order Form”), which amends, restates and supersedes the order form between the Company and Swirlds dated December 13, 2018, whereby the Company will license 15 nodes from Swirlds, at a license fee of $15,000 per node, for a term of one (1) year, for a license fee of $225,000. Pursuant to the Order Form, the license of the nodes will automatically renew for additional one (1) year terms unless and until either party terminates the Swirlds Agreement or provides notice of non-renewal of the license then in effect. Should the license for any of the foregoing 15 nodes renew for any additional year, the license fee per node will drop to $3,000 per node per year. During the year ended December 31, 2020 the Company paid a total of $225,000 and recorded a prepaid expense of $112,500. During the six months ended June 30, 2021 the Company recorded an expense of $112,500. On June 15, 2021 the Company renewed its agreement with Swirlds for an annual fee of $45,000 which is recorded as a prepaid expense as of June 30, 2021. As of June 30, 2021 the Company owes Swirlds $185,000. Additionally, pursuant to the Order Form, the Company will pay Swirlds quarterly fees based on the aggregate value of all transaction fees the Company collects in that quarter from customers whose transactions were processed on the Coro payment platform using Swirld’s Hashgraph algorithm. The Company will also pay quarterly network transaction fees on all transactions (other than transactions for fiat), that are conducted by a Coro network user. If such quarterly network transaction fees equal less than $5,000, the Company will pay Swirlds $5,000 for that quarter. On March 9, 2020, the Company entered into an engagement agreement with Aegis Capital Corp. (“Aegis”), pursuant to which we engaged Aegis to act as lead underwriter in connection with a proposed public offering of common stock by the Company. In the event the contemplated offering were completed, the agreement contemplated, that (subject to execution of an underwriting agreement for the offering) Aegis would be entitled to a 8% underwriting discount, a 1% non-accountable expense allowance, reimbursement of certain expenses, and warrants to purchase 8% of the number of shares of common stock sold in the offering. The agreement had a termination date of six months from the date thereof or upon completion of the proposed offering. The Company had recorded $119,025 of deferred offering costs consisting of $85,000 of legal fees, exchange listing fees of $9,025 and $25,000 of underwrite due diligence fees. The agreement expired on September 9, 2020 and offering costs of $119,025 were expensed. On June 24, 2020, the board of directors of the Company adopted a compensation program for independent directors. Under the program, independent directors will be entitled to a quarterly cash fee of $7,500 and 7,500 shares of common stock on a quarterly basis (each due and payable quarterly in arrears). During the year ended December 31, 2020, the Company appointed three independent directors.

Related Party

Related Party	6 Months Ended
	Jun. 30, 2021
Related Party Transactions [Abstract]
RELATED PARTY	6. RELATED PARTY During the three and six months ended June 30, 2021 and 2020 the Company paid Dorr Asset Management consulting fees and expenses of $0, $0, $75,000, and $143,367, respectively. Dorr Asset Management is controlled by Brian and David Dorr, related parties to the Company.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2021
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	7. SUBSEQUENT EVENTS On August 17, 2021, Lou Naser, Rudolph Hüppi and Carlos Naupari resigned as directors of the Company.

Accounting Policies, by Policy

Accounting Policies, by Policy (Policies)	6 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited consolidated financial statements of Coro Global, Inc., a Nevada corporation (the “Company”), have been prepared in accordance with the instructions to Form 10-Q and do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete consolidated financial statements. These unaudited consolidated financial statements and related notes should be read in conjunction with the Company’s Form 10-K for the fiscal year ended December 31, 2020 filed with the SEC on March 31, 2021. In the opinion of management, these unaudited consolidated financial statements reflect all adjustments that are of a normal recurring nature and which are necessary to present fairly the financial position of the Company as of June 30, 2021, and the results of operations and cash flows for the three and six months ended June 30, 2021 and 2020. The results of operations for the six months ended June 30, 2021 are not necessarily indicative of the results that may be expected for the entire fiscal year.
Principle of Consolidation	Principle of Consolidation The accompanying financial statements present on a consolidated basis the accounts of the Company and its wholly owned subsidiary, Coro Corp., which was organized in the State of Nevada on September 14, 2018. All significant intercompany accounts and transactions have been eliminated in consolidation.
Nature of Business Operations	Nature of Business Operations Coro Global Inc. is a Nevada corporation that was originally formed on November 1, 2005. On September 14, 2018 the Company formed a wholly owned subsidiary, Coro Corp. The Company is focused on dynamic global growth opportunities in the financial technology (Fintech) industry. Effective January 9, 2020, the Company changed its name to Coro Global Inc. The Company has developed a Fintech product that uses advanced distributed ledger technology for improved security, speed, and reliability. In August 2020 the Company released its CORO payment product and commenced its commercialization.
Covid-19 Pandemic	Covid-19 Pandemic The Company’s operations have been materially and adversely impacted by the Covid-19 pandemic. The Company is located in Dade County, Florida which was subject to a “stay at home” order effective March 26, 2020, and which was lifted effective May 20, 2020. The effect of Covid-19 on the business has since been limited to experiencing delays in obtaining registrations and/or licenses from various state governmental agencies due to staff being temporarily suspended or working remotely.
Going Concern	Going Concern The accompanying consolidated financial statements have been prepared assuming the Company will continue as a going concern. The Company reported a net loss of $1,734,787 for the six months ended June 30, 2021 and has an accumulated deficit of $46,378,999 as of June 30, 2021. The losses raise substantial doubt about the Company’s ability to continue as a going concern. We will need to raise additional capital in order to continue operations. The Company’s ability to obtain additional financing may be affected by the success of its growth strategy and its future performance, each of which is subject to general economic, financial, competitive, legislative, regulatory and other factors beyond the Company’s control. Additional capital may not be available on acceptable terms, or at all. Financing transactions may include the issuance of equity or debt securities, obtaining credit facilities, or other financing mechanisms. Further, if we issue additional equity or debt securities, stockholders may experience additional dilution or the new equity securities may have rights, preferences or privileges senior to those of existing holders of our common stock. If additional financing is not available or is not available on acceptable terms, we will have to curtail or cease our operations. The financial statements do not include any adjustments relating to the recoverability and classification of recorded assets, or the amounts of and classification of liabilities that might be necessary in the event the Company cannot continue in existence. These financial statements do not include any adjustments that might arise from this uncertainty.
Cash and Cash Equivalents	Cash and Cash Equivalents For purposes of these financial statements, cash and cash equivalents includes highly liquid debt instruments with maturity of less than three months. Restricted cash are funds that belong to the Company’s clients and is held at financial institutions.
Concentrations of Credit Risk	Concentrations of Credit Risk Financial instruments and related items, which potentially subject the Company to concentrations of credit risk, consist primarily of cash and cash equivalents. The Company places its cash and temporary cash investments with high credit quality institutions. At times, such investments may be in excess of the FDIC insurance limit. Currently our operating accounts are approximately $255,625 above the FDIC limit.
Advertising	Advertising The Company follows the policy of charging the costs of advertising to expense as incurred. The Company incurred $35,528, $110,328, $125,381 and $125,381, respectively for advertising costs for the three and six months ended June 30, 2021 and 2020.
Income Taxes	Income Taxes The Company accounts for income taxes under the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements. Under this method, deferred tax assets and liabilities are determined based on the differences between the financial statements and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date. The Company records net deferred tax assets to the extent the Company believes these assets will more likely than not be realized. In making such determination, the Company considers all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax planning strategies and recent financial operations. A valuation allowance is established against deferred tax assets that do not meet the criteria for recognition. In the event the Company were to determine that it would be able to realize deferred income tax assets in the future in excess of their net recorded amount, the Company would make an adjustment to the valuation allowance which would reduce the provision for income taxes. The Company follows the accounting guidance which provides that a tax benefit from an uncertain tax position may be recognized when it is more likely than not that the position will be sustained upon examination, including resolutions of any related appeals or litigation processes, based on the technical merits. Income tax positions must meet a more-likely-than-not recognition threshold at the effective date to be recognized initially and in subsequent periods. Also included is guidance on measurement, recognition, classification, interest and penalties, accounting in interim periods, disclosure, and transition.
Property and Equipment	Property and Equipment Property and equipment are stated at cost. When retired or otherwise disposed, the related carrying value and accumulated depreciation are removed from the respective accounts and the net difference less any amount realized from disposition, is reflected in earnings. Minor additions and renewals are expensed in the year incurred. Major additions and renewals are capitalized and depreciated over their estimated useful lives being 3 years up to 5 years Computer and equipment costs consisted of the following: June 30, December 31, Computer equipment and software $ 14,454 $ 12,469 Accumulated depreciation (5,619 ) (4,273 ) Balance $ 8,835 $ 8,204
Revenue Recognition	Revenue Recognition Effective January 1, 2018, the Company recognizes revenue in accordance with Accounting Standards Codification 2014-09, Revenue from Contracts with Customers (Topic 606), which supersedes the revenue recognition requirements in Topic 605, Revenue Recognition, and most industry-specific revenue recognition guidance throughout the Industry Topics of the Accounting Standards Codification. The updated guidance states that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance also provides for additional disclosures with respect to revenues and cash flows arising from contracts with customers. As of June 30, 2021 and December 31, 2020 the Company recorded a liability of $125,087 and $283,175 for amounts owed to customers for the purchase of gold.
Fair Value of Financial Instruments	Fair Value of Financial Instruments Cash, Due to Customers, Prepaid and Other Current Assets, Accounts Payable, Accrued Salaries and Wages and Other Current Liabilities. The carrying amounts of these items approximated fair value. Fair value is defined 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. To increase the comparability of fair value measures, Financial Accounting Standards Board (“FASB”) ASC Topic 820-10-35 establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1 measurement) and the lowest priority to unobservable inputs (level 3 measurements). Level 1 Level 2 Level 3
Impairment of Long Lived Assets	Impairment of Long Lived Assets In accordance with Accounting Standards Codification (“ASC”) 360-10, Accounting for the Impairment or Disposal of Long-Lived Assets, long-lived assets to be held and used are analyzed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. ASC 360-10 relates to assets that can be amortized and the life can be determinable. The Company reviews property and equipment and other long-lived assets for impairment annually, or whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability is measured by comparison of the asset’s carrying amount to future undiscounted net cash flows the assets are expected to generate. Cash flow forecasts are based on trends of historical performance and management’s estimate of future performance, giving consideration to existing and anticipated competitive and economic conditions. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds the projected discounted future cash flows arising from the assets or their fair values, whichever is more determinable.
Leases	Leases In February 2016, the FASB issued ASU 2016-02, Leases
Net Loss per Share	Net Loss per Share Basic and diluted loss per share amounts are computed based on net loss divided by the weighted average number of common shares outstanding. Convertible shares, if converted, totaling 0 were not included in the computation of diluted loss per share because the assumed conversion and exercise would be anti-dilutive as there were no potentially dilutive instruments as of June 30, 2021 and 2020.
Management Estimates	Management Estimates The presentation 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 at 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.
Stock Based Compensation	Stock Based Compensation The Company accounts for employee compensation related to stock, options or warrants using a fair value-based method whereby compensation cost is measured at the grant date based on the value of the award and is recognized over the service period, which is usually the vesting period. The Company accounts for nonemployee compensation related to stock, options or warrants using a fair value-based method whereby compensation cost is measured at the earlier of a commitment date or completion of services based on the value of the award and is recognized over the service period. The Company uses the Black-Scholes pricing model to calculate the fair value of options and warrants issued to both employees and non-employees. Stock issued for compensation is valued using the market price of the stock on the measurement date.
Reclassifications	Reclassifications Certain 2020 balances have been reclassified in the 2021 financial statement presentation
Recent Accounting Pronouncements	Recent Accounting Pronouncements All other newly issued accounting pronouncements not yet effective have been deemed either immaterial or not applicable.

Business, Going Concern and S_2

Business, Going Concern and Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
Schedule of computer and equipment costs	June 30, December 31, Computer equipment and software $ 14,454 $ 12,469 Accumulated depreciation (5,619 ) (4,273 ) Balance $ 8,835 $ 8,204

Notes Payable _ Related Party (

Notes Payable – Related Party (Tables)	6 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
Schedule of changes in this note payable to related party	At 2021 At 2020 Note Payable $ - $ - Accrued interest $ 14,820 $ 14,820

Business, Going Concern and S_3

Business, Going Concern and Significant Accounting Policies (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Business, Going Concern and Significant Accounting Policies (Details) [Line Items]
Net loss	$ (818,693)	$ (1,867,473)	$ (1,734,787)	$ (2,717,361)
Retained Earnings (Accumulated Deficit)	(46,378,999)		(46,378,999)		$ (44,644,212)
Operating accounts			255,625
Advertising costs	35,528	$ 125,381	110,328	$ 125,381
Due to customers	$ 125,087		$ 125,087		$ 283,175
Minimum [Member]
Business, Going Concern and Significant Accounting Policies (Details) [Line Items]
Property and equipment estimated useful lives			3 years
Maximum [Member]
Business, Going Concern and Significant Accounting Policies (Details) [Line Items]
Property and equipment estimated useful lives			5 years

Business, Going Concern and S_4

Business, Going Concern and Significant Accounting Policies (Details) - Schedule of computer and equipment costs - USD ($)	Jun. 30, 2021	Dec. 31, 2020
Schedule of computer and equipment costs [Abstract]
Computer equipment and software	$ 14,454	$ 12,469
Accumulated depreciation	(5,619)	(4,273)
Balance	$ 8,835	$ 8,204

Deferred Stock-Based Compensa_2

Deferred Stock-Based Compensation - Related Party (Details) - USD ($)	1 Months Ended			6 Months Ended	12 Months Ended
	Dec. 29, 2020	Dec. 31, 2019	May 18, 2018	Jun. 30, 2021	Dec. 31, 2020	May 31, 2019
Deferred Stock-Based Compensation - Related Party (Details) [Line Items]
Additional value of common stock for the vesting				$ 35,733	$ 622,107
Additional value of common stock for the unvested				$ 0	$ 171,285
Employment agreement, description	the Company entered into amendment No. 2 to the Company’s employment agreement with J. Mark Goode. Pursuant to the amendment, Mr. Goode’s employment with the Company continued until January 31, 2021, and Mr. Goode agreed to resign as President, Chairman, and Chief Executive Officer of the Company effective December 31, 2020. From the period January 1, 2021 to January 31, 2021 Mr. Goode was entitled to his base salary and any other regular compensation under the employment agreement and agreed to assist the Company in the Company’s transition to a new Chief Executive Officer. Mr. Goode agreed that he would return 250,000 shares of the Company’s common stock if he were not serving as Chief Executive Officer of the Company as of December 30, 2020, and agreed to return 62,500 shares of common stock to the Company upon expiration of the employment agreement on January 31, 2021. On December 31, 2020, Mr. Goode submitted his resignation as Director, President and Chief Executive Officer of the Company, effective at 11:59 p.m. on December 31, 2020.
Mr. Goode [Member]
Deferred Stock-Based Compensation - Related Party (Details) [Line Items]
Additional paid in capitals						$ 2,162,408
Mr. Goode [Member] | Employment Agreement [Member]
Deferred Stock-Based Compensation - Related Party (Details) [Line Items]
Additional shares, description			the Company appointed J. Mark Goode as the President and Chief Executive Officer of the Company. He was also appointed a member and Chairman of the Board of Directors of the Company.On May 31, 2019, the Company entered into amendment no. 1 to the Company’s employment agreement with Mr. Goode. Pursuant to the amendment, the Company’s obligation to issue additional shares of common stock as compensation to Mr. Goode was amended, such that, the Company issued to Mr. Goode and his designee 750,000 shares of common stock upon execution of the amendment, and the Company had no further obligation to issue to Mr. Goode shares under the employment agreement.
Vested [Member]
Deferred Stock-Based Compensation - Related Party (Details) [Line Items]
Additional value of common stock for the vesting		$ 300,995

Notes Payable _ Related Party_2

Notes Payable – Related Party (Details) - Notes Payable [Member] - USD ($)	Apr. 12, 2019	Apr. 09, 2019	Jul. 15, 2016
Notes Payable – Related Party (Details) [Line Items]
Promissory note, percentage			7.00%
Principal amount			$ 100,000
Maturity date		Apr. 9, 2019
Vantage [Member]
Notes Payable – Related Party (Details) [Line Items]
Amount of issued shares of common stock	$ 50,000
Newly issued shares of common stock (in Shares)	10,000
Outstanding convertible promissory note	$ 50,000

Notes Payable _ Related Party_3

Notes Payable – Related Party (Details) - Schedule of changes in this note payable to related party - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Schedule of changes in this note payable to related party [Abstract]
Note Payable
Accrued interest	$ 14,820	$ 14,820

Equity (Details)

Equity (Details) - USD ($)	1 Months Ended	3 Months Ended		6 Months Ended		12 Months Ended
	May 31, 2019	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020	Dec. 31, 2019
Equity (Details) [Line Items]
Common stock for vesting award value				$ 35,733		$ 622,107	$ 300,995
Unvested amount of awards		$ 0		$ 0		$ 171,285
Aggregate of common stock shares (in Shares)				300,000
Aggregate of purchase price				$ 1,500,000	$ 1,000,000
Value of common stock issued for services			$ 342,500		$ 342,500
Securities Purchase Agreements [Member]
Equity (Details) [Line Items]
Aggregate of common stock shares (in Shares)					200,000
Mr. Goode [Member]
Equity (Details) [Line Items]
Stock issued of new shares (in Shares)	750,000
Conversion of deferred compensation to common stock (in Shares)	2,162,408
Lou Naser [Member]
Equity (Details) [Line Items]
Aggregate of common stock shares (in Shares)				6,000
Aggregate of purchase price				$ 30,000
Director [Member]
Equity (Details) [Line Items]
Shares of common stock issued for services (in Shares)		22,500		45,000
Value of common stock issued for services		$ 37,125		$ 170,510
Shares issued price per share (in Dollars per share)		$ 1.65		$ 3.79

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($)	Mar. 09, 2020	Jun. 15, 2021	Jun. 24, 2020	Dec. 31, 2018	Jun. 30, 2021	Dec. 31, 2020	Sep. 09, 2020
Commitments and Contingencies (Details) [Line Items]
License fees, description				at a license fee of $15,000 per node, for a term of one (1) year, for a license fee of $225,000. Pursuant to the Order Form, the license of the nodes will automatically renew for additional one (1) year terms unless and until either party terminates the Swirlds Agreement or provides notice of non-renewal of the license then in effect. Should the license for any of the foregoing 15 nodes renew for any additional year, the license fee per node will drop to $3,000 per node per year.
Total expenses						$ 225,000
Prepaid expense						$ 112,500
Other expenses					$ 112,500
Annual fee		$ 45,000
License fee agreement, description					The Company will also pay quarterly network transaction fees on all transactions (other than transactions for fiat), that are conducted by a Coro network user. If such quarterly network transaction fees equal less than $5,000, the Company will pay Swirlds $5,000 for that quarter.
Percentage of underwriting discount	8.00%
Percentage of non-accountable expense allowance	1.00%
Percentage of purchase warrants	8.00%
Deferred offering costs	$ 119,025						$ 119,025
Legal fees	85,000
Exchange listing fees	9,025
Underwrite due diligence fees	$ 25,000
Compensation program, description			the board of directors of the Company adopted a compensation program for independent directors. Under the program, independent directors will be entitled to a quarterly cash fee of $7,500 and 7,500 shares of common stock on a quarterly basis (each due and payable quarterly in arrears).
Swirlds Agreements [Member]
Commitments and Contingencies (Details) [Line Items]
Other expenses					$ 185,000

Related Party (Details)

Related Party (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Related Party Transactions [Abstract]
Consulting fees and expenses	$ 0	$ 75,000	$ 0	$ 143,367