Cover
Cover - USD ($) | 12 Months Ended | ||
Dec. 31, 2023 | Mar. 29, 2024 | Jun. 30, 2023 | |
Cover [Abstract] | |||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Annual Report | true | ||
Document Transition Report | false | ||
Document Period End Date | Dec. 31, 2023 | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2023 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity File Number | 0-17529 | ||
Entity Registrant Name | DIAMONDHEAD CASINO CORPORATION | ||
Entity Central Index Key | 0000844887 | ||
Entity Tax Identification Number | 59-2935476 | ||
Entity Incorporation, State or Country Code | DE | ||
Entity Address, Address Line One | 1013 Princess Street | ||
Entity Address, City or Town | Alexandria | ||
Entity Address, State or Province | VA | ||
Entity Address, Postal Zip Code | 22314 | ||
City Area Code | 703 | ||
Local Phone Number | 683-6800 | ||
Title of 12(g) Security | Common Stock, par value $.001 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | No | ||
Entity Interactive Data Current | Yes | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Small Business | true | ||
Entity Emerging Growth Company | false | ||
Entity Shell Company | false | ||
Entity Public Float | $ 7,976,392 | ||
Entity Common Stock, Shares Outstanding | 36,297,576 | ||
Document Financial Statement Error Correction [Flag] | false | ||
Auditor Firm ID | 688 | ||
Auditor Name | Marcum | ||
Auditor Location | Marlton, New Jersey |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Dec. 31, 2023 | Dec. 31, 2022 |
Current assets: | ||
Cash | $ 426,124 | $ 55,885 |
Total current assets | 426,124 | 55,885 |
Land (Note 3) | 5,233,204 | 5,476,097 |
Other receivable | 154,622 | |
Other assets | 80 | 80 |
Total assets | 5,814,030 | 5,532,062 |
Current liabilities: | ||
Convertible notes and line of credit payable (Note 5) | 1,962,500 | 1,962,500 |
Debenture payable (Note 6) | 50,000 | 50,000 |
Convertible debenture payable (Note 6) | 1,800,000 | 1,800,000 |
Short term notes and interest bearing advance (Note 7) | 65,504 | 80,504 |
Total current liabilities | 18,676,733 | 17,526,938 |
Total liabilities | 18,676,733 | 17,526,938 |
Commitments and contingencies (Notes 3 and 15) | ||
Stockholders’ deficit: | ||
Preferred stock, $0.01 par value; shares authorized 5,000,000, outstanding 2,086,000 at December 31, 2023 and 2022 (aggregate liquidation preference of $2,519,080 at December 31, 2023 and 2022) | 20,860 | 20,860 |
Common stock, $0.001 par value; shares authorized 50,000,000, issued: 39,052,472 at December 31, 2023 and 2022, outstanding: 36,297,576 at December 31, 2023 and 2022 | 39,052 | 39,052 |
Additional paid-in capital | 36,663,780 | 36,122,078 |
Unearned ESOP shares | (2,490,662) | (2,609,264) |
Accumulated deficit | (46,862,802) | (45,351,375) |
Treasury stock, at cost, 1,084,431 and 1,004,886 shares at December 31, 2023 and 2022, respectively | (232,931) | (216,227) |
Total stockholders’ deficit | (12,862,703) | (11,994,876) |
Total liabilities and stockholders’ deficit | 5,814,030 | 5,532,062 |
Related Party [Member] | ||
Current liabilities: | ||
Accounts payable and accrued expenses | 8,315,187 | 7,462,182 |
Notes payable due | 669,279 | 720,651 |
Others [Member] | ||
Current liabilities: | ||
Accounts payable and accrued expenses | 5,272,524 | 4,918,538 |
Notes payable due | $ 541,739 | $ 532,563 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) | Dec. 31, 2023 | Dec. 31, 2022 |
Defined Benefit Plan Disclosure [Line Items] | ||
Preferred stock par value | $ 0.01 | $ 0.01 |
Preferred stock, shares authorized | 5,000,000 | 5,000,000 |
Preferred stock, shares outstanding | 2,086,000 | 2,086,000 |
Preferred stock liquidation preference value | $ 2,519,080 | $ 2,519,080 |
Common stock par value | $ 0.001 | $ 0.001 |
Common stock, shares authorized | 50,000,000 | 50,000,000 |
Common stock, shares issued | 39,052,472 | 39,052,472 |
Common stock, shares outstanding | 36,297,576 | 36,297,576 |
Treasury stock, shares | 1,084,431 | 1,004,886 |
Related Party [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Notes payable, unamortized discount | $ 33,241 | $ 0 |
Others [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Notes payable, unamortized discount | $ 15,761 | $ 24,937 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
COSTS AND EXPENSES | ||
Administrative and general | $ 736,680 | $ 917,756 |
Stock-based compensation | 546,400 | 11,480 |
Other | 67,975 | 71,450 |
Total costs and expenses | 1,351,055 | 1,000,686 |
Interest expense: | ||
Related parties | 438,393 | 415,330 |
Other | 377,486 | 439,689 |
Gain on the condemnation of land | (757,107) | |
Total other (income) expense | 58,772 | 855,019 |
NET LOSS | (1,409,827) | (1,855,705) |
PREFERRED STOCK DIVIDENDS | (101,600) | (101,600) |
NET LOSS APPLICABLE TO COMMON STOCKHOLDERS | $ (1,511,427) | $ (1,957,305) |
Weighted average common shares outstanding - basic | 37,437,576 | 36,297,576 |
Weighted average common shares outstanding - diluted | 37,437,576 | 36,297,576 |
Net loss per common share - basic | $ (0.040) | $ (0.054) |
Net loss per common share - diluted | $ (0.040) | $ (0.054) |
Consolidated Statements of Chan
Consolidated Statements of Changes in Stockholders' Deficiency - USD ($) | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Balance | $ (11,994,876) | $ (10,147,051) |
Shares acquired from ESOP | ||
Common stock to be issued in connection with notes payable - related parties | 98,000 | |
Stock-based compensation | 546,400 | 11,480 |
Dividends | (101,600) | (101,600) |
Net loss | (1,409,827) | (1,855,705) |
Common stock to be issued in connection with notes payable - related parties | 70,000 | |
Common stock to be issued in connection with notes payable - others | 27,200 | |
Balances | (12,862,703) | (11,994,876) |
Preferred Stock [Member] | ||
Balance | $ 20,860 | $ 20,860 |
Beginning balance, shares | 2,086,000 | 2,086,000 |
Shares acquired from ESOP | ||
Shares acquired from ESOP, shares | ||
Common stock to be issued in connection with notes payable - related parties | ||
Stock-based compensation | ||
Dividends | ||
Net loss | ||
Common stock to be issued in connection with notes payable - related parties | ||
Common stock to be issued in connection with notes payable - others | ||
Balances | $ 20,860 | $ 20,860 |
Ending balance, shares | 2,086,000 | 2,086,000 |
Common Stock [Member] | ||
Balance | $ 39,052 | $ 39,052 |
Beginning balance, shares | 39,052,472 | 39,052,472 |
Shares acquired from ESOP | ||
Common stock to be issued in connection with notes payable - related parties | ||
Stock-based compensation | ||
Dividends | ||
Net loss | ||
Common stock to be issued in connection with notes payable - related parties | ||
Common stock to be issued in connection with notes payable - others | ||
Balances | $ 39,052 | $ 39,052 |
Ending balance, shares | 39,052,472 | 39,052,472 |
Additional Paid-in Capital [Member] | ||
Balance | $ 36,122,078 | $ 36,100,973 |
Shares acquired from ESOP | (101,898) | (88,375) |
Common stock to be issued in connection with notes payable - related parties | 98,000 | |
Stock-based compensation | 546,400 | 11,480 |
Dividends | ||
Net loss | ||
Common stock to be issued in connection with notes payable - related parties | 70,000 | |
Common stock to be issued in connection with notes payable - others | 27,200 | |
Balances | 36,663,780 | 36,122,078 |
Unearned ESOP [Member] | ||
Balance | $ (2,609,264) | $ (2,727,866) |
Beginning balance, shares | 1,750,010 | 1,829,555 |
Shares acquired from ESOP | $ 118,602 | $ 118,602 |
Shares acquired from ESOP, shares | (79,545) | (79,545) |
Common stock to be issued in connection with notes payable - related parties | ||
Stock-based compensation | ||
Dividends | ||
Net loss | ||
Common stock to be issued in connection with notes payable - related parties | ||
Common stock to be issued in connection with notes payable - others | ||
Balances | $ (2,490,662) | $ (2,609,264) |
Ending balance, shares | 1,670,465 | 1,750,010 |
Retained Earnings [Member] | ||
Balance | $ (45,351,375) | $ (43,394,070) |
Shares acquired from ESOP | ||
Common stock to be issued in connection with notes payable - related parties | ||
Stock-based compensation | ||
Dividends | (101,600) | (101,600) |
Net loss | (1,409,827) | (1,855,705) |
Common stock to be issued in connection with notes payable - related parties | ||
Common stock to be issued in connection with notes payable - others | ||
Balances | (46,862,802) | (45,351,375) |
Treasury Stock, Common [Member] | ||
Balance | $ (216,227) | $ (186,000) |
Beginning balance, shares | 1,004,886 | 925,341 |
Shares acquired from ESOP | $ (16,704) | $ (30,227) |
Shares acquired from ESOP, shares | 79,545 | 79,545 |
Common stock to be issued in connection with notes payable - related parties | ||
Stock-based compensation | ||
Dividends | ||
Net loss | ||
Common stock to be issued in connection with notes payable - related parties | ||
Common stock to be issued in connection with notes payable - others | ||
Balances | $ (232,931) | $ (216,227) |
Ending balance, shares | 1,084,431 | 1,004,886 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Cash flows from operating activities: | ||
Net loss | $ (1,409,827) | $ (1,855,705) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Amortization | 76,116 | 141,663 |
Stock-based compensation | 546,400 | 11,480 |
Gain on the condemnation of land | (757,107) | |
Changes in operating assets and liabilities: | ||
Accounts payable and accrued expenses - related parties | 751,405 | 775,293 |
Accounts payable and accrued expenses - other | 353,986 | 786,167 |
Net cash used in operating activities | (439,027) | (141,102) |
Cash flows from investing activities: | ||
Land easement, net of other receivable | 845,378 | |
Net cash provided by investing activities | 845,378 | |
Cash flows from financing activities: | ||
Proceeds from note payable - others | 40,000 | 130,000 |
Proceeds from non-interest bearing advances from related parties | 97,020 | |
Repayments of non-interest bearing note payable - others | (40,000) | |
Repayments of interest bearing note payable - others | (15,000) | |
Repayments of notes payable issued to related parties | (118,132) | (15,104) |
Net cash (used in) provided by financing activities | (36,112) | 114,896 |
Net increase (decrease) in cash | 370,239 | (26,206) |
Cash at beginning of year | 55,885 | 82,091 |
Cash at end of year | 426,124 | 55,885 |
Supplemental disclosure of cash flow information: | ||
Cash paid for interest | 56,056 | |
Supplemental disclosure of non-cash financing activities: | ||
Common stock to be issued in connection with notes payable - related parties | 70,000 | 98,000 |
Common stock to be issued in connection with notes payable - others | 27,200 | |
Unpaid preferred stock dividends in accounts payable and accrued expenses | $ 101,600 | $ 101,600 |
Organization and Business
Organization and Business | 12 Months Ended |
Dec. 31, 2023 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Organization and Business | Note 1. Organization and Business Diamondhead Casino Corporation and its Subsidiaries (the “Company”) own a total of approximately 400 acres of unimproved land in Diamondhead, Mississippi (“the Property”). Active subsidiaries of the Company include Mississippi Gaming Corporation, which owns the approximate 400-acre site and Casino World, Inc. The Company’s intent was to construct a casino resort and other amenities on the Property unilaterally or, in conjunction with one or more joint venture partners. However, the Company has been unable to date, to obtain financing to move the project forward and/or enter into a joint venture partnership. Due to its lack of financial resources and certain law suits filed against it, the Company has been forced to explore other alternatives, including a sale of part or all of the Property. The Company’s preference is to sell only part of the Property inasmuch as this would appear to be in the best interest of the stockholders of the Company. However, there can be no assurance the Company will be able to sell only part of the Property. The Company intends to continue to pursue a joint venture partnership and/or other financing while seeking a viable purchaser for part or all of the Property. Thus, on March 25, 2019, Mississippi Gaming Corporation entered into a brokerage agreement with an unrelated third party to seek a buyer for all or part of the Property or, alternatively, to seek a joint venture partner for the project. The brokerage agreement has expired, but the Company continues to work with the broker on the same terms under the contract. |
Liquidity and Going Concern
Liquidity and Going Concern | 12 Months Ended |
Dec. 31, 2023 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Liquidity and Going Concern | Note 2. Liquidity and Going Concern These consolidated financial statements have been prepared on the basis that the Company is a going concern, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The Company has incurred losses over the past several years, has no operations, generates no operating revenues, and as reflected in the accompanying consolidated financial statements, incurred a net loss applicable to common stockholders of $ 1,511,427 46,862,802 The Company has had no operations since it ended its gambling cruise ship operations in 2000. Since that time, the Company has concentrated its efforts on the development of its Diamondhead, Mississippi property. That development is dependent upon the Company obtaining the necessary capital, through either equity and/or debt financing, unilaterally or in conjunction with one or more partners, to master plan, design, obtain permits for, construct, open, and operate a casino resort. In the past, in order to raise capital to continue to pay on-going costs and expenses, the Company has borrowed funds, through Private Placements of convertible instruments as well as through other secured notes which are more fully described in Notes 5 through 10 to these consolidated financial statements. The Company is in default with respect to payment of both principal and interest under the terms of most of these instruments. In addition, at December 31, 2023, the Company had $ 13,587,711 426,124 The above conditions raise substantial doubt as to the Company’s ability to continue as a going concern within one year after the date of that the consolidated financial statements are issued. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2023 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | Note 3. Summary of Significant Accounting Policies Principles of Consolidation The consolidated financial statements include the accounts of Diamondhead Casino Corporation and its wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. Estimates The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Land Land held for development is carried at cost. Costs directly related to site development, such as licensing, permitting, engineering, and other costs, are capitalized. Land development costs, which have been capitalized, consist of the following at December 31, 2023 and 2022: Schedule of Land Development Cost Capitalized December, 31 2023 2022 Land $ 4,691,430 $ 4,934,323 Licenses 77,000 77,000 Engineering and costs associated with permitting 464,774 464,774 $ 5,233,204 $ 5,476,097 Cooperative Energy, a Mississippi Electric Cooperative sought a permanent easement along the northern portion of the Property on which to construct, maintain and operate electric transmission lines together with an access road. On or about November 19, 2020, Cooperative Energy filed a Complaint with the Special Court of Eminent Domain, Hancock County, Mississippi seeking an Order authorizing the Cooperative to enter onto the Property for the purpose of examinations and surveys. The matters sought in the Complaint were quickly resolved by agreement of the parties. The Company’s understanding and MGC’s understanding was that the case would be dismissed, but the case was not dismissed. On or about May 24, 2023, Cooperative Energy filed a Complaint for Eminent Domain in the Special Court of Eminent Domain, Hancock County, Mississippi in which it named MGC and all persons and entities holding liens on the Diamondhead, Mississippi Property as defendants. On October 17, 2023, the Court entered an Order Approving Settlement in the amount of $ 1 845,378 1 154,622 Management determined that the easement arrangement was outside the scope of ASC 842. Further, the Company determined that the easement reduced the value of the property by $ 242,893 757,107 1 Fair Value Measurements The Company follows the provisions of ASC Topic 820 “Fair Value Measurements” for financial assets and liabilities. This standard defines fair value, provides guidance for measuring fair value and requires certain disclosures. The standard utilizes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The following is a brief description of those three levels: Level 1: Observable inputs such as quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2: Input other than quoted prices that are observable for the asset or liability, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active. Level 3: Unobservable input that reflects management’s own assumptions. Financial instruments included in current assets and liabilities are reported at carrying value in the consolidated balance sheets, which approximate fair value due to their short term nature. Long-Lived Assets The Company reviews long-lived assets whenever events or changes in circumstances indicate that the carrying value of an asset may not be recoverable. Recoverability of long-lived assets is measured by comparing the carrying amount of the assets to the estimated undiscounted future cash flows projected to be generated by the assets. If such assets are considered impaired, the impairment to be recognized is measured by the amount the carrying value exceeds the fair value of such assets determined by appraisal, discounted cash flow projections, or other means. No impairment existed as of December 31, 2023. Employee Stock Ownership Plan The Company has an Employee Stock Ownership Plan (ESOP) covering substantially all employees with one or more years of service, financed by employer loans. The Company also established a trust called the Europa Cruises Corporation Employee Stock Ownership Plan Trust Agreement, to serve as the funding vehicle for the ESOP. The President and Chief Executive Officer is the sole Trustee of the Trust. Compensation expense was measured at the current market price of shares committed for release and such shares constitute outstanding shares for earnings per share computations. As the loans are repaid, shares are released from the ESOP and allocated to qualified employees based upon the proportion of payments made during the year to the remaining amount of payments due on the loans through maturity. Dividends, if any, are treated as follows: (1) stock dividends on shares allocated to participant accounts shall be credited to the participant account when paid; and (2) cash dividends on shares allocated to participant accounts shall, at the discretion of the Administrator, be credited to the participants’ Other Investment Account or be used to reduce the indebtedness to the Company, in which case, shares bearing an equal value to the cash dividend would be allocated to participant accounts. The Company has not paid any dividends on its common stock. For the years 2011 through 2023, the Company elected to temporarily suspend contributions to the Plan, in accordance with the loan pledge agreement between the Company and the ESOP Trust. For each year in which there was no contribution to the Plan, the Plan returned the 79,545 Income Taxes Under the asset and liability method of ASC Topic 740, “Accounting for Income Taxes,” deferred tax liabilities and assets are recognized for future tax consequences attributable to differences between the financial statement carrying amounts and the tax basis of assets and liabilities. A valuation allowance is recorded to reflect the uncertainty of realization of deferred tax assets. The Company follows the provisions of Financial Accounting Standard Board (“FASB”) No. 48 (FIN 48), “Accounting for Uncertainty in Income Taxes.” The standard addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the consolidated financial statements. Under this standard, an entity may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities based on the technical merits of the position. The tax benefits recognized in the consolidated financial statements from such a position should be measured based on the largest benefit that has a greater than fifty percent likelihood of being realized upon ultimate settlement. The standard also provides guidance on derecognition, classification, interest and penalties on income taxes, and accounting in interim periods and requires increased disclosures. The Company does not have a liability for unrecognized tax benefits. The Company’s policy is to record interest and penalties on uncertain tax provisions as income tax expense. As of December 31, 2023 and 2022, the Company has no Net Loss per Common Share Basic loss per share is computed by dividing net loss available to common stockholders by the weighted average number of common shares outstanding. Basic weight average shares includes 1,140,000 860,000 5,055,555 The table below summarizes the components of potential dilutive securities at December 31, 2023 and 2022. Schedule of Components of Potential Dilutive Securities Description December 31, 2023 December 31, 2022 Convertible Preferred Stock 260,000 260,000 Options to Purchase Common Shares 4,555,000 4,555,000 Total 4,815,000 4,815,000 Stock Based Compensation The Company follows the provisions of ASC Topic 718 “Compensation — Stock Compensation” which requires the measurement and recognition of compensation expense for all share-based payment awards either modified or granted to employees and directors based upon estimated fair values. On November 9, 2020, the Board of Directors voted to award 1,290,000 0.46 December 31, 2023 200,000 40,000 100,000 360,000 450,000 140,000 On December 12, 2023, the Board of Directors voted to extend these outstanding options from December 31, 2023 to December 31, 2025. On February 4, 2022, the Board of Directors entered into an agreement with the Chairman to issue 35,000 0 Option valuation models require the input of highly subjective assumptions, including the expected stock price volatility. The Company uses projected volatility rates, which are based upon historical volatility rates, trended into future years. Because the Company’s employee stock options have characteristics significantly different from those of traded options, and because changes in the subjective input assumptions can materially affect the fair value estimate, in management’s opinion, the existing models do not necessarily provide a reliable single measure of the fair value of the Company’s options. Reclassification Certain reclassifications have been made to the Company’s consolidated financial statements for the year ended December 31, 2023 to conform to the current period’s consolidated financial statement presentation. A reclassification of $ 11,480 Recently Adopted Accounting Pronouncements In November 2019, the FASB issued ASU 2019-10, Financial Instruments—Credit Losses (Topic 326), Derivative and Hedging (Topic 815, and Leases (Topic 841) Recently Issued Accounting Pronouncements Not Yet Adopted On March 27, 2023, the FASB issued ASU 2023-01, which amends certain provisions of ASC 842 that apply to arrangements between related parties under common control. Specifically, the ASU: ● Offers private companies, as well as not-for-profit entities that are not conduit bond obligors, a practical expedient that gives them the option of using the written terms and conditions of a common-control arrangement when determining whether a lease exists and the subsequent accounting for the lease, including the lease’s classification. ● Amends the accounting for leasehold improvements in common-control arrangements for all entities. The ASU is effective for fiscal years beginning after December 15, 2023. The Company has not completed its assessment of the standard, but does not expect the adoption to have a material impact on the Company’s unaudited condensed consolidated financial position, results of operations, or cash flows. No other recent accounting pronouncements were issued by FASB that are believed by management to have a material impact on the Company’s present or future financial statements. |
Accounts Payable and Accrued Ex
Accounts Payable and Accrued Expenses | 12 Months Ended |
Dec. 31, 2023 | |
Payables and Accruals [Abstract] | |
Accounts Payable and Accrued Expenses | Note 4 Accounts Payable and Accrued Expenses The table below outlines the elements included in accounts payable and accrued expenses at December 31, 2023 and 2022: Schedule of Accounts Payable and Accrued Expenses December 31, December 31, 2023 2022 Related parties: Accrued payroll due officers $ 3,869,711 $ 3,569,711 Accrued interest due officers and directors 2,897,159 2,467,844 Accrued director fees 928,750 838,750 Base rents due to the President 403,276 403,274 Associated rental costs 198,983 165,295 Other 17,308 17,308 Total related parties $ 8,315,187 $ 7,462,182 Non-related parties: Accrued interest $ 3,115,463 $ 2,841,520 Accrued dividends 1,270,000 1,168,400 Accrued fines and penalties 578,775 444,875 Other 308,286 463,743 Total non-related parties $ 5,272,524 $ 4,918,538 |
Convertible Notes and Line of C
Convertible Notes and Line of Credit | 12 Months Ended |
Dec. 31, 2023 | |
Convertible Notes And Line Of Credit | |
Convertible Notes and Line of Credit | Note 5. Convertible Notes and Line of Credit Line of Credit In 2008, the Company entered into an agreement with an unrelated third party for an unsecured Line of Credit up to a maximum of $ 1,000,000 9 November 1, 2012 50,000 1.75 250,000 1.75 2,302,929 2,213,422 Convertible Notes Pursuant to a Private Placement Memorandum dated March 1, 2010, the Company offered Units consisting of a two year 25,000 12 50,000 five years Pursuant to an additional Private Placement Memorandum dated October 25, 2010, the Company offered Units consisting of a two year 25,000 9 50,000 five years The Convertible Notes issued pursuant to the two Private Placements discussed above total $ 962,500 486,796 962,500 1,145,957 1,043,547 The table below summarizes the Company’s debt arising from the above-described sources as of December 31, 2023 and 2022: Schedule of Convertible Notes Payable December 31, 2023 December 31, 2022 Private placements - March 1, 2010* $ 475,000 $ 475,000 Private placements - October 25, 2010 487,500 487,500 $ 962,500 $ 962,500 * Of the 2010 placements above, $ 75,000 |
Convertible Debentures
Convertible Debentures | 12 Months Ended |
Dec. 31, 2023 | |
Debt Disclosure [Abstract] | |
Convertible Debentures | Note 6. Convertible Debentures Pursuant to a Private Placement Memorandum dated February 14, 2014 (the “Private Placement”), the Company offered up to a maximum of $ 3,000,000 3,000,000 4 matured six years from the date of issuance (a) $ 1,000,000 3,333,333 .30 (b) $ 1,000,000 2,222,222 .45 (c) $ 1,000,000 1,818,182 1,333,333 .55 .75 The conversion rights on each issued Debenture carry an Anti-Dilution Provision. If the Company issues any shares of Common Stock or other securities after March 31, 2014 at a price per security that is less than the conversion price of a Debenture, then the Debenture shall have a new conversion price equal to the price per security that is less than the Conversion Price of the Debenture. The foregoing provision shall not apply to the following: (a) The issuance of any of the other Debentures in the Offering or the issuance of shares of Common Stock upon conversion of any of the Debentures in the Offering; (b) The issuance of any shares of Common Stock if such issuance relates to an agreement, arrangement or grant to issue shares of Common Stock entered into by the Company prior to the Issue Date of the First Tranche Debentures in the Offering, including but not limited to, for example, previously issued convertible promissory notes, previously issued warrants, previously issued options to purchase Common Stock, or common stock vested or to be issued pursuant to a pre-existing Employee Stock Ownership Plan. The Anti-Dilution Provisions with respect to a Debenture terminate the earlier of (a) the date (if ever) the Company receives an “Approval to Proceed” from the Mississippi Gaming Commission to develop a casino/hotel on the Property, (b) the date on which the Debenture is converted in full, (c) the date on which the Debenture is paid in full, or (d) the Final Maturity Date of the Debenture (as defined in the Debenture). Since the issuance of the Debentures, there have been no events that would trigger the above anti-dilution provisions. When originally issued, in the event the Company failed to meet the conditions for conversion of the Debentures, the First Tranche Convertible Debentures, which total $ 950,000 850,000 50,000 427,081 Total accrued interest due on all outstanding Debentures amounted to $ 750,719 617,733 |
Short Term Notes and Interest-B
Short Term Notes and Interest-Bearing Advance | 12 Months Ended |
Dec. 31, 2023 | |
Debt Disclosure [Abstract] | |
Short Term Notes and Interest-Bearing Advance | Note 7. Short Term Notes and Interest-Bearing Advance Promissory Notes On June 9, 2017, the Company entered into a Promissory Note with an unrelated lender in exchange for proceeds in the amount of $ 15,000 12.5 June 9, 2019 15,000 14,165 Bank Credit Facility Wells Fargo Bank provided an unsecured credit facility of up to $ 15,000 11.24 24.99 18,004 Interest Bearing Advances In 2016, the Company received cash advances totaling $ 47,500 22,500 four years 8 16,400 14,200 On February 2, 2017, the Company borrowed $ 25,000 12.5 3 15,000 6,644 18,493 Of the amounts discussed above, $ 65,504 |
Current Notes Payable Due Relat
Current Notes Payable Due Related Parties | 12 Months Ended |
Dec. 31, 2023 | |
Current Notes Payable Due Related Parties | |
Current Notes Payable Due Related Parties | Note 8. Current Notes Payable Due Related Parties In 2016, the Company received cash advances totaling $ 47,500 25,000 four years 8 16,000 14,000 In the third quarter of 2016, the Chairman of the Board of Directors of the Company loaned the Company $ 90,000 14 four years 93,482 80,882 In July 2017, at the request of the Company, the current Chairman of the Board of Directors, who is also a Vice President of the Company (“the Chairman”), paid all property taxes due, together with all interest due thereon to Hancock County, Mississippi on an approximate 400 67,628 The Chairman is one of the secured parties under that Land Deed of Trust recorded on September 26, 2014 in Hancock County, Mississippi, to secure Tranche I and Tranche II Debentures issued by the Company in 2014. Under paragraph 5 of the Land Deed of Trust, a secured party who advances sums for taxes due on the Property is secured by the same Land Deed of Trust, but only at that interest rate specified in the note representing the primary indebtedness, namely 4 The Chairman advanced the $ 67,628 4 11 11 0 35,000 100,000 100,000 69,527 59,360 In March of 2018, the Board of Directors voted to increase up to an additional $ 200,000 (i) the advance constitutes a lien on the Property with interest at 15% per annum; (ii) that the full interest of 15% per annum is payable during any calendar year in which all or part of the amount advanced is due and owing or interest due thereon remains unpaid; (iii) that this debt be evidenced by a separate promissory note and is to be included in and secured with a third lien that is to be placed on the Diamondhead Property to secure previous advances made to the Company (hereafter “the Third Lien”); (iv) that he be indemnified for any losses sustained on the sale of his common stock in an unrelated publicly-traded company to be sold to cover this advance based on a sales price of approximately $2.80 per share with a cap on the maximum loss per share to be at a sales price of $10.00 per share; and (v) that the Chairman’s previous indemnification approved by the Board of Directors on July 24, 2017 with respect to any loss on the sale of the same stock also be capped at a maximum of $10.00 per share. 35,000 On September 30, 2018, Mississippi Gaming Corporation issued a secured promissory note, due one year from the date of issue to the Chairman, for an amount up to $ 200,000 200,000 In November of 2018, the Board of Directors voted to increase up to an additional $ 100,000 200,000 In July 2020, the Chairman of the Board of the Company paid a total of $ 67,076 400 1,573 150,000 In May 2021, the Chairman of the Board of the Company paid a total of $ 62,610 400 1,468 100,000 On May 30, 2021, the Chairman of the Board of the Company loaned the Company $ 50,000 50,000 100,000 33,500 On February 17, 2023, the Board of Directors agreed to issue a non-interest bearing promissory note to the Chairman in the principal amount of $ 25,000 50,000 17,500 17,096 25,000 On July 28, 2023, the Board of Directors agreed to issue a non-interest bearing promissory note to the Chairman in the principal amount of $ 75,000 150,000 52,500 22,644 74,520 As of December 31, 2023, the Chairman had advanced a total of $ 467,953 16,250 349,415 279,754 On July 24, 2017, the President of the Company, who is a Director of the Company, agreed to advance the Company up to $ 20,000 100,000 interest of 15% per annum on the amount advanced and owing and that the full 15% interest per annum is payable during any calendar year in which all or part of the amount advanced and owing or interest due thereon remains unpaid; (ii) the obligation in the maximum principal amount of $100,000 with interest due thereon be treated as a secured debt of the Company, to be evidenced by a separate note and to be secured with a separate lien to be placed on the Diamondhead Property (“the Third Lien”) together with the Chairman’s Third Lien, as well as a first lien to be placed on the residential lot owned by the Company; (iii) that the Third Lien on the Diamondhead Property also include the two loans ($ 25,000 15,000 15,000 As of December 31, 2023, the President had advanced a total of $ 5,007 68,562 25,000 15,000 18,000 100,000 100,000 23,763 41,409 The third lien placed on the Diamondhead Property, which secures the above three promissory notes, totals up to $ 400,000 300,000 100,000 The principal balance of the notes payable due to the officers and directors discussed above was $ 669,279 33,241 720,651 0 |
Notes Payable Due Others
Notes Payable Due Others | 12 Months Ended |
Dec. 31, 2023 | |
Notes Payable Due Others | |
Notes Payable Due Others | Note 9. Notes Payable Due Others In October 2017, the Company entered into a settlement with a holder of $ 150,000 50,000 four year 0 In December 2020, the Company entered into three promissory notes with unrelated lenders in exchange for an aggregate principal amount of $ 126,250 100,000 26,250 The notes are non-interest bearing and matured in December 2021, one year after the notes’ issuances. These notes are currently in default. In January and February 2021, the Company entered into two additional promissory notes with unrelated lenders in exchange for a principal amount of $ 25,000 31,250 50,000 6,250 In April and May 2021, the Company entered into three additional promissory notes with unrelated lenders in exchange for a principal amount of $ 70,000 25,000 25,000 100,000 20,000 In July 2021, the Company entered into an additional promissory note with an unrelated lender in exchange for a principal amount of $ 25,000 25,000 In November 2021, the Company entered into an additional promissory note with an unrelated lender in exchange for a principal amount of $ 50,000 50,000 In March 2022, unrelated third parties paid a total of $ 60,436 19,564 80,000 80,000 40,000 80,000 40,000 80,000 160,000 In April 2022, the Company entered into an additional promissory note with an unrelated lender in exchange for a principal amount of $ 50,000 50,000 From April 2021 to June 2022, thirteen liens were placed on the Property to secure these notes. There is a call for the issuance of a total of 760,000 22,050 102,000 98,000 On July 25, 2023 and August 8, 2023, the Company entered into two additional promissory notes with unrelated lenders in exchange for a principal amount of $ 20,000 40,000 one year 40,000 27,200 11,439 20,000 During the years ended December 31, 2023 and 2022, $ 36,376 141,663 541,739 532,563 |
Long Term Notes and Interest-Be
Long Term Notes and Interest-Bearing Advance | 12 Months Ended |
Dec. 31, 2023 | |
Debt Disclosure [Abstract] | |
Long Term Notes and Interest-Bearing Advance | Note 10. Long Term Notes and Interest-Bearing Advance Promissory Notes On June 9, 2017, the Company entered into a Promissory Note with an unrelated lender in exchange for proceeds in the amount of $ 15,000 12.5 June 9, 2019 15,000 |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2023 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | Note 11. Related Party Transactions As of December 31, 2023, the President of the Company is owed deferred salary in the amount of $ 3,666,996 121,140 9 326,360 288,547 2,237,878 1,781,809 The Company has a month-to-month lease with the President and then-Chairman of the Board of Directors of the Company, for office space owned by the President in Alexandria, Virginia. The lease calls for monthly base rent in the amount of $ 4,534 54,408 33,689 88,097 54,408 30,737 85,145 602,252 568,569 Directors of the Company are entitled to a director’s fee of $ 15,000 928,750 838,750 On February 4, 2022, the Board of Directors entered into an agreement with Mr. Harrison, the Chairman of the Board of Directors, to issue 35,000 11,480 On February 17, 2023, the Board of Directors agreed to issue a non-interest bearing promissory note to the Chairman in the principal amount of $ 25,000 50,000 On July 28, 2023, the Board of Directors agreed to issue a non-interest bearing promissory note to the Chairman in the principal amount of $ 75,000 150,000 25,000 75,000 74,520 480 See Notes 4, 5, 7, 8 and 15 for other related party transactions. |
Stockholders_ Deficit
Stockholders’ Deficit | 12 Months Ended |
Dec. 31, 2023 | |
Equity [Abstract] | |
Stockholders’ Deficit | Note 12. Stockholders’ Deficit At December 31, 2023 and 2022, the Company had a stock option plan and non-plan options, which are described below. Non-Plan Stock Options On January 3, 2018, the Board of Directors voted to extend from March 13, 2018 to December 31, 2020 , the expiration date for a total of 3,115,000 currently outstanding options previously issued to the Chairman, the President, the Vice President and two former employees of the Company. The Company recorded stock-based compensation expense of $ 21,570 for the year ended December 31, 2018. No share-based awards were issued or amended in 2019. On November 6, 2020, the Board of Directors voted to extend 2,965,000 of these outstanding options from December 31, 2020 to December 31, 2023. In December 2023, the Board of Directors voted to extend the expiration date of all options to December 31, 2025. As a result of the modification to the options, the Company recorded an additional $546,400 in stock based compensation expense for the year ended December 31, 2023. Accordingly, 150,000 of these 3,115,000 options expired at December 31, 2020 . On November 9, 2020, the Board of Directors voted to award 1,290,000 0.46 December 31, 2023 200,000 40,000 100,000 360,000 450,000 140,000 Stock Option Plan On December 19, 1988, the Company adopted a stock option plan (the “Plan”) for its officers and management personnel under which options could be granted to purchase up to 1,000,000 1,000,000 100 ten years no Summary of Stock Options A summary of the status of the Company’s fixed Plan and non-plan options as of December 31, 2023 and 2022, and changes during the years ended December 31, 2023 and 2022 is presented below. Schedule of Fixed Plan and Non-plan Options Shares Weighted Average Exercise Price Outstanding as of January 1, 2022 4,555,000 $ 0.41 Granted - - Exercised - - Expired - - Forfeited - - Outstanding as of December 31, 2022 4,555,000 $ 0.41 Granted - - Exercised - - Forfeited - - Outstanding as of December 31, 2023 4,555,000 $ 0.41 Exercisable as of December 31, 2022 4,555,000 $ 0.41 Exercisable as of December 31, 2023 4,555,000 $ 0.41 The following tables summarize information about stock options outstanding and exercisable at December 31, 2023 and 2022: Schedule of Stock Options Outstanding and Exercisable December 31, 2023 Options Outstanding Options Exercisable Range of Exercise Prices Number Outstanding at 12/31/23 Weighted-Average Remaining Contractual Life (Yrs.) Weighted Average Exercise Price Number Exercisable at 12/31/23 Weighted Average Exercise Price $ 0.19 2,000,000 2.0 $ 0.19 2,000,000 $ 0.19 0.30 750,000 2.0 0.30 750,000 0.30 0.75 215,000 2.0 0.75 215,000 0.75 1.75 300,000 2.0 1.75 300,000 1.75 0.46 1,290,000 2.0 0.46 1,290,000 0.46 4,555,000 4,555,000 December 31, 2022 Options Outstanding Options Exercisable Range of Exercise Prices Number Outstanding at 12/31/22 Weighted-Average Remaining Contractual Life (Yrs.) Weighted Average Exercise Price Number Exercisable at 12/31/22 Weighted Average Exercise Price $ 0.19 2,000,000 2.0 $ 0.19 2,000,000 $ 0.19 0.30 750,000 2.0 0.30 750,000 0.30 0.75 215,000 2.0 0.75 215,000 0.75 1.75 300,000 2.0 1.75 300,000 1.75 0.46 1,290,000 2.0 0.46 1,290,000 0.46 4,555,000 4,555,000 Preferred Stock Series S Preferred Stock The Company has 926,000 .01 These shares may be redeemed at the option of the Company at $1.08 per share plus $.0108 per share for each quarter that such shares are outstanding for a total of $2.18 per share at December 31, 2023 1.08 926,000 375,000 345,000 Series S-NR Preferred Stock The Company has 900,000 .01 1.11 900,000 375,000 345,000 Series S-PIK Preferred Stock The Company has one million units outs, each unit consisting of one share of the Company’s $ .001 .01 Each share of Series S-PIK preferred stock is convertible into one share of the Company’s common voting stock at any time after February 15, 1995 No 2.00 0.04 260,000 520,000 478,400 Payment of Preferred Dividends The Company did not pay any dividends due on its preferred stock in 2023 or 2022. However, payment of all cumulative and non-cumulative preferred stock dividends, outstanding at any time, is required before the Company can issue any dividends on its common stock. |
Employee Stock Ownership Plan
Employee Stock Ownership Plan | 12 Months Ended |
Dec. 31, 2023 | |
Retirement Benefits [Abstract] | |
Employee Stock Ownership Plan | Note 13. Employee Stock Ownership Plan The Company’s employee stock ownership plan (ESOP) is intended to be a qualified retirement plan and an employee stock ownership plan. All employees having one year of service are eligible to participate in the ESOP. The ESOP is funded by two 8% promissory notes issued by the Company. The shares of common stock are pledged to the Company as security for the loans. The promissory notes are payable from the proceeds of annual contributions made by the Company to the ESOP. In the event that the Company elects not to make a Plan contribution in any given year, the corresponding shares applicable to that year are released from the Trust to the Company in consideration of that years’ note payment. In January 2001, the Plan and accompanying promissory notes were amended to conform to the Company’s current employment structure, by extending the note repayment terms through 2044. Assuming a Plan contribution is made, shares are allocated to the participants’ accounts in relation to repayments of the loans from the Company. At December 31, 2023, there were a total of 1,670,465 350,464 In 2011, the Company decided to temporarily suspend contributions to the Plan. Therefore, the Trust was unable to make its annual loan payment to the company and a loan default occurred. In accordance with the Pledge Agreement between the Company and the Trust, the shares attached to the loan payments subsequent to the 2010 contribution reverted back to the Company as treasury shares. In 2023 and 2022, 79,545 16,704 30,227 |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2023 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Note 14. Income Taxes At December 31, 2023, the Company had net operating loss carryforwards for income taxes of approximately $ 5.6 million, which expire during various periods through 2041 . Realization of deferred income taxes as of December 31, 2023 and 2022 is not considered likely. Therefore, by applying a federal statutory rate of 21% to the carryforward amounts , a valuation allowance of approximately $ 1.3 and $ 1.7 million, has been established for each year for the entire amount of deferred tax assets relative to the net operating loss at December 31, 2023 and 2022, respectively, resulting in an effective tax rate of 0 % and no deferred tax asset recognition. The valuation allowance decreased by approximately $416,000 in 2023 and $ 215,000 in 2022. The net operating losses before 2017 will expire during various periods through 2037. The net operating losses after 2017 can be carried forward indefinitely but can offset only 80 % of the income in the tax year. |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2023 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Note 15. Commitments and Contingencies Liens As of December 31, 2023, the Company had placed twenty-one liens on the Company’s Diamondhead, Mississippi Property (“the Property”). No additional liens have been filed as of the filing of this report. The liens were as follows: In September of 2014, a first lien was placed on the Property pursuant to a Private Placement dated February 14, 2014, as amended, to secure certain obligations of the Company. The first lien is composed of an (i) Executives Lien and (ii) an Investors’ Lien. The liens are in pari passu On March 31, 2014, the Company issued $ 1 850,000 1,850,000 pari passu 2,000,000 On December 16, 2016, the Company filed a second lien on the Property in the maximum amount of $ 250,000 137,500 On August 21, 2018, the Company filed a third lien on the Property in the maximum amount of $ 400,000 On January 26, 2021, the Company filed a fourth lien on the Property in the amount of $ 2,000,000 2,000,000 On February 17, 2021, the Company filed a fifth lien in the amount of $ 658,750 658,750 In April 2021, the Company filed six liens on the Property to secure six non-interest-bearing notes payable to be issued to six lenders bringing total liens on the Property to eleven. The six notes issued total $ 252,500 250,000 In June 2021, the Company filed a twelfth and thirteenth on the Property to secure two non-interest bearing notes issued in May of 2021 which total $ 50,000 100,000 In July 2021, the Company filed a fourteenth lien on the Property to secure a promissory note in the amount of $ 150,000 In July 2021, the Company filed a fifteenth lien on the Property to secure a promissory note in the amount of $ 100,000 In July 2021, the Company filed a sixteenth lien on the Property to secure a non-interest bearing note issued to the Chairman of the Board in May 2021 which totals $ 50,000 100,000 In July 2021, the Company filed a seventeenth lien on the Property to secure a non-interest bearing note issued to a lender, which totals $ 25,000 50,000 In November 2021, the Company filed an eighteenth lien on the Property to secure a non-interest bearing note issued in November 2021 which totals $ 50,000 100,000 In March 2022, the Company filed a nineteenth and twentieth lien on the Property to secure two non-interest bearing notes issued in March of 2022 which total $ 80,000 160,000 In May 2022, the Company filed a twenty-first lien on the Property to secure a non-interest bearing note issued in April of 2022 which totals $ 50,000 100,000 Other The Company is currently delinquent in filing those documents and forms required to be filed in connection with its Employee Stock Ownership Plan (“ESOP”) for the year ended December 31, 2023, 2022, 2021, 2020, 2019, 2018, 2017, 2016 and 2015. The Company did not have the funds to pay professionals to prepare, audit and file these documents and forms when due. Although these required filings normally do not result in any tax due to an agency of the government, the Company could be subject to significant penalties for failure to file these forms when due. Penalties are assessed by the Department of Labor on a per diem basis from the original due dates for the required informational filings until the filings are actually made. The Company has accrued $ 578,775 429,750 The Company and its subsidiaries file their federal tax return on a consolidated basis. The Company has not filed its consolidated federal tax returns for the years ended December 31, 2023, 2022, 2021, 2020, 2019, 2018, 2017 and 2016. The Company believes no tax will be due with these federal returns. The Company has not filed its annual reports together with its franchise tax due with the state of Delaware for 2023, 2022, 2020, 2019 and 2018. Mississippi Gaming Corporation, a wholly owned subsidiary of the Company, has not filed its annual reports, together with its franchise tax due, with the state of Delaware for 2023, 2022, 2021, 2020, 2019 and 2018. Casino World, Inc., a wholly owned subsidiary of the Company, has not filed its annual reports, together with its franchise tax due, with the state of Delaware for 2023, 2022, 2021, 2020, 2019, 2018, 2017 and 2016. Mississippi Gaming Corporation has not filed its corporate income and franchise tax returns, together with the tax due, with the state of Mississippi for 2023, 2022, 2021, 2020, 2019, or 2018. Casino World, Inc. has not filed its corporate income and franchise tax returns, together with the tax due, with the state of Mississippi for 2023, 2022, 2021, 2020, 2019, 2018, 2017 and 2016. As of December 31, 2023, the accrued franchise taxes for Delaware and Mississippi totaled $ 17,400 The Company has made provision for the expected taxes due on these state filings in their consolidated financial statements for the years ending December 31, 2023 and 2022. Management Agreement On June 19, 1993, two subsidiaries of the Company, Casino World Inc. and Mississippi Gaming Corporation, entered into a Management Agreement with Casinos Austria Maritime Corporation (CAMC). Subject to certain conditions, under the Management Agreement, CAMC would operate, on an exclusive basis, all of the Company’s proposed dockside gaming casinos in the State of Mississippi, including any operation fifty percent (50%) or more of which is owned by the Company or its affiliates. Unless terminated earlier pursuant to the provisions of the Agreement, the Agreement terminates five years from the first day of actual Mississippi gaming operations and provides for the payment of an annual operational term management fee of 1.2% of all gross gaming revenues between zero and $100,000,000; plus 0.75% of gross gaming revenue between $100,000,000 and $140,000,000; plus 0.5% of gross gaming revenue above $140,000,000; plus two percent of the net gaming revenue between zero and $25,000,000; plus three percent of the net gaming revenue above twenty-five million dollars $25,000,000. The Company believes this Agreement is no longer in effect. However, there can be no assurance that CAMC will not attempt to maintain otherwise which would lead to litigation Letter of Intent with an Unrelated Third Party On March 31, 2023, the Company entered into a Letter of Intent with an unrelated third party. The Agreement provided for purchases of Common Stock of Diamondhead Casino Corporation and purchases of Common Stock of its wholly-owned subsidiary, Mississippi Gaming Corporation. As of the issuance date of these financial statements, no payment has been made by the third party investor, no transactions pursuant to the Letter of Intent have occurred and no shares of common stock have been issued. The Company does not expect the Agreement to be honored. |
Pending and Threatened Litigati
Pending and Threatened Litigation | 12 Months Ended |
Dec. 31, 2023 | |
Pending And Threatened Litigation | |
Pending and Threatened Litigation | Note 15. Pending and Threatened Litigation CASE SETTLED Cooperative Energy, a Mississippi Electric Cooperative v. Mississippi Gaming Corporation (In the Special Court of Eminent Domain, Hancock County, Mississippi (Case No. CC20-0221) Cooperative Energy, a Mississippi Electric Cooperative v. Mississippi Gaming Corporation, et al (all lienholders of the Diamondhead Property. (In the Special Court of Eminent Domain, Hancock County, Mississippi (Case No. CC23-0153) Since 1994, American Telephone and Telegraph Company (“AT&T”) has had an exclusive right of way easement along the northern portion of Mississippi Gaming Corporation’s (“MGC”) Diamondhead, Mississippi Property (“the Property”) to construct, operate, maintain, inspect, alter, replace and remove communications systems which they may require from time to time. Cooperative Energy, a Mississippi Electric Cooperative, also sought and has now obtained a permanent easement along the northern portion of the Property on which to construct, maintain and operate electric transmission lines together with an access road. On or about November 19, 2020, Cooperative Energy filed a Complaint with the Special Court of Eminent Domain, Hancock County, Mississippi seeking an Order authorizing the Cooperative to enter onto the Property for the purpose of examinations and surveys. The matters sought in the Complaint were quickly resolved by agreement of the parties. The Company’s understanding and MGC’s understanding was that the case would be dismissed, but the case was not dismissed. On or about May 24, 2023, Cooperative Energy filed a Complaint for Eminent Domain in the Special Court of Eminent Domain, Hancock County, Mississippi in which it named MGC and all persons and entities holding liens on the Diamondhead, Mississippi Property as defendants. On or about February 19, 2023, the parties entered into an Indemnification Agreement to fully indemnify MGC and Diamondhead Casino Corporation and each of their respective directors, officers, employees, agents, attorneys, and affiliates, and hold each of them harmless and defend each of them against any and all claims, losses, damages, expenses and/or liabilities to which an Indemnified Party might become liable arising out of or relating to any activities conducted on or about the Property by Cooperative Energy and/or its respective directors, officers, employees, agents, attorneys, affiliates and/or representatives and/or any unrelated third parties, contractors and/or subcontractors performing any activities on the Property at the request of or for the benefit of Cooperative Energy. On September 1, 2023, Cooperative Energy filed a Motion to Approve Settlement, an Amended Statement of Values and a Notice of Hearing for September 11, 2023. Cooperative Energy served all interested parties, including all persons or entities holding liens on the Diamondhead Property, as defendants in the case. On September 26, 2023, the Court entered an Order Granting Plaintiff Right of Immediate Title and Possession. On October 17, 2023, the Court entered an Order Approving Settlement in the amount of $ 1,000,000 and entered an Order Approving Disbursement of Funds to MGC. On October 20, 2023, MGC received $ 845,378 as part of the settlement amount. The parties are working on the wording of the two easements: a Cooperative Energy Right-Of-Way Easement and an Access Road Easement. Once the easements are finalized ans signed, Cooperative Energy will pay MGC the remaining amount due of approximately $ 155,000 , The two easements are perpetual. The Right-Of-Way Easement is to construct, maintain, operate, add, and/or remove electric transmission lines, distribution lines, towers, wires, poles, appliances, equipment, anchors, frame structures, guys, counter-poise wire or other counter-poise conductors, and appurtenances thereto, all of which are collectively referred to as “Power Lines,” upon, over, under and across the land which is the subject of the easement. The Access Road Easement is for ingress and egress for use in the clearing, construction, maintenance and operation of transmission line facilities. Once MGC signs the easements, Cooperative Energy will pay the remainder of the settlement due MGC. Cooperative Energy has informed MGC that it has obtained an agreement from AT&T concerning AT&T’s pre-existing exclusive right of way easement so that the Company will not be in breach of its agreement with AT&T. Edson R. Arneault, Kathleen Devlin and James Devlin, J. Steven Emerson, Emerson Partners, J. Steven Emerson Roth IRA, Steven Rothstein, and Barry Stark and Irene Stark v. Diamondhead Casino Corporation On October 25, 2016, Edson R. Arneault, Kathleen Devlin and James Devlin, J. Steven Emerson, Emerson Partners, J. Steven Emerson Roth IRA, Steven Rothstein, and Barry Stark and Irene Stark filed a Complaint against the Company in the United States District Court for the District of Delaware for monies due and owing pursuant to certain Collateralized Convertible Senior Debentures issued on March 31, 2014 and December 31, 2014. A companion case was filed in the Superior Court of the State of Delaware by John Hawley, as servicing agent for Argonaut 2000 Partners, L.P. (John Hawley, as servicing agent for Argonaut 2000 Partners, L.P. v. Diamondhead Casino Corporation (Superior Court of the State of Delaware)(Case No. N19C-02-239 RRC) The eight plaintiffs in the two cases were seeking a total of $ 1.5 In or about December 2022, the parties entered into an Amendment to Settlement Agreement. The Amendment provides, in pertinent part, as follows: that on or before March 31, 2023, the Plaintiffs would be paid the principal due under their debentures of $ 1.5 4 6 8 175,000 50,000 1.5 195,000 16,500 112,500 |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2023 | |
Accounting Policies [Abstract] | |
Principles of Consolidation | Principles of Consolidation The consolidated financial statements include the accounts of Diamondhead Casino Corporation and its wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. |
Estimates | Estimates The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. |
Land | Land Land held for development is carried at cost. Costs directly related to site development, such as licensing, permitting, engineering, and other costs, are capitalized. Land development costs, which have been capitalized, consist of the following at December 31, 2023 and 2022: Schedule of Land Development Cost Capitalized December, 31 2023 2022 Land $ 4,691,430 $ 4,934,323 Licenses 77,000 77,000 Engineering and costs associated with permitting 464,774 464,774 $ 5,233,204 $ 5,476,097 Cooperative Energy, a Mississippi Electric Cooperative sought a permanent easement along the northern portion of the Property on which to construct, maintain and operate electric transmission lines together with an access road. On or about November 19, 2020, Cooperative Energy filed a Complaint with the Special Court of Eminent Domain, Hancock County, Mississippi seeking an Order authorizing the Cooperative to enter onto the Property for the purpose of examinations and surveys. The matters sought in the Complaint were quickly resolved by agreement of the parties. The Company’s understanding and MGC’s understanding was that the case would be dismissed, but the case was not dismissed. On or about May 24, 2023, Cooperative Energy filed a Complaint for Eminent Domain in the Special Court of Eminent Domain, Hancock County, Mississippi in which it named MGC and all persons and entities holding liens on the Diamondhead, Mississippi Property as defendants. On October 17, 2023, the Court entered an Order Approving Settlement in the amount of $ 1 845,378 1 154,622 Management determined that the easement arrangement was outside the scope of ASC 842. Further, the Company determined that the easement reduced the value of the property by $ 242,893 757,107 1 |
Fair Value Measurements | Fair Value Measurements The Company follows the provisions of ASC Topic 820 “Fair Value Measurements” for financial assets and liabilities. This standard defines fair value, provides guidance for measuring fair value and requires certain disclosures. The standard utilizes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The following is a brief description of those three levels: Level 1: Observable inputs such as quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2: Input other than quoted prices that are observable for the asset or liability, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active. Level 3: Unobservable input that reflects management’s own assumptions. Financial instruments included in current assets and liabilities are reported at carrying value in the consolidated balance sheets, which approximate fair value due to their short term nature. |
Long-Lived Assets | Long-Lived Assets The Company reviews long-lived assets whenever events or changes in circumstances indicate that the carrying value of an asset may not be recoverable. Recoverability of long-lived assets is measured by comparing the carrying amount of the assets to the estimated undiscounted future cash flows projected to be generated by the assets. If such assets are considered impaired, the impairment to be recognized is measured by the amount the carrying value exceeds the fair value of such assets determined by appraisal, discounted cash flow projections, or other means. No impairment existed as of December 31, 2023. |
Employee Stock Ownership Plan | Employee Stock Ownership Plan The Company has an Employee Stock Ownership Plan (ESOP) covering substantially all employees with one or more years of service, financed by employer loans. The Company also established a trust called the Europa Cruises Corporation Employee Stock Ownership Plan Trust Agreement, to serve as the funding vehicle for the ESOP. The President and Chief Executive Officer is the sole Trustee of the Trust. Compensation expense was measured at the current market price of shares committed for release and such shares constitute outstanding shares for earnings per share computations. As the loans are repaid, shares are released from the ESOP and allocated to qualified employees based upon the proportion of payments made during the year to the remaining amount of payments due on the loans through maturity. Dividends, if any, are treated as follows: (1) stock dividends on shares allocated to participant accounts shall be credited to the participant account when paid; and (2) cash dividends on shares allocated to participant accounts shall, at the discretion of the Administrator, be credited to the participants’ Other Investment Account or be used to reduce the indebtedness to the Company, in which case, shares bearing an equal value to the cash dividend would be allocated to participant accounts. The Company has not paid any dividends on its common stock. For the years 2011 through 2023, the Company elected to temporarily suspend contributions to the Plan, in accordance with the loan pledge agreement between the Company and the ESOP Trust. For each year in which there was no contribution to the Plan, the Plan returned the 79,545 |
Income Taxes | Income Taxes Under the asset and liability method of ASC Topic 740, “Accounting for Income Taxes,” deferred tax liabilities and assets are recognized for future tax consequences attributable to differences between the financial statement carrying amounts and the tax basis of assets and liabilities. A valuation allowance is recorded to reflect the uncertainty of realization of deferred tax assets. The Company follows the provisions of Financial Accounting Standard Board (“FASB”) No. 48 (FIN 48), “Accounting for Uncertainty in Income Taxes.” The standard addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the consolidated financial statements. Under this standard, an entity may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities based on the technical merits of the position. The tax benefits recognized in the consolidated financial statements from such a position should be measured based on the largest benefit that has a greater than fifty percent likelihood of being realized upon ultimate settlement. The standard also provides guidance on derecognition, classification, interest and penalties on income taxes, and accounting in interim periods and requires increased disclosures. The Company does not have a liability for unrecognized tax benefits. The Company’s policy is to record interest and penalties on uncertain tax provisions as income tax expense. As of December 31, 2023 and 2022, the Company has no |
Net Loss per Common Share | Net Loss per Common Share Basic loss per share is computed by dividing net loss available to common stockholders by the weighted average number of common shares outstanding. Basic weight average shares includes 1,140,000 860,000 5,055,555 The table below summarizes the components of potential dilutive securities at December 31, 2023 and 2022. Schedule of Components of Potential Dilutive Securities Description December 31, 2023 December 31, 2022 Convertible Preferred Stock 260,000 260,000 Options to Purchase Common Shares 4,555,000 4,555,000 Total 4,815,000 4,815,000 |
Stock Based Compensation | Stock Based Compensation The Company follows the provisions of ASC Topic 718 “Compensation — Stock Compensation” which requires the measurement and recognition of compensation expense for all share-based payment awards either modified or granted to employees and directors based upon estimated fair values. On November 9, 2020, the Board of Directors voted to award 1,290,000 0.46 December 31, 2023 200,000 40,000 100,000 360,000 450,000 140,000 On December 12, 2023, the Board of Directors voted to extend these outstanding options from December 31, 2023 to December 31, 2025. On February 4, 2022, the Board of Directors entered into an agreement with the Chairman to issue 35,000 0 Option valuation models require the input of highly subjective assumptions, including the expected stock price volatility. The Company uses projected volatility rates, which are based upon historical volatility rates, trended into future years. Because the Company’s employee stock options have characteristics significantly different from those of traded options, and because changes in the subjective input assumptions can materially affect the fair value estimate, in management’s opinion, the existing models do not necessarily provide a reliable single measure of the fair value of the Company’s options. |
Reclassification | Reclassification Certain reclassifications have been made to the Company’s consolidated financial statements for the year ended December 31, 2023 to conform to the current period’s consolidated financial statement presentation. A reclassification of $ 11,480 |
Recently Adopted Accounting Pronouncements | Recently Adopted Accounting Pronouncements In November 2019, the FASB issued ASU 2019-10, Financial Instruments—Credit Losses (Topic 326), Derivative and Hedging (Topic 815, and Leases (Topic 841) |
Recently Issued Accounting Pronouncements Not Yet Adopted | Recently Issued Accounting Pronouncements Not Yet Adopted On March 27, 2023, the FASB issued ASU 2023-01, which amends certain provisions of ASC 842 that apply to arrangements between related parties under common control. Specifically, the ASU: ● Offers private companies, as well as not-for-profit entities that are not conduit bond obligors, a practical expedient that gives them the option of using the written terms and conditions of a common-control arrangement when determining whether a lease exists and the subsequent accounting for the lease, including the lease’s classification. ● Amends the accounting for leasehold improvements in common-control arrangements for all entities. The ASU is effective for fiscal years beginning after December 15, 2023. The Company has not completed its assessment of the standard, but does not expect the adoption to have a material impact on the Company’s unaudited condensed consolidated financial position, results of operations, or cash flows. No other recent accounting pronouncements were issued by FASB that are believed by management to have a material impact on the Company’s present or future financial statements. |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Accounting Policies [Abstract] | |
Schedule of Land Development Cost Capitalized | Land development costs, which have been capitalized, consist of the following at December 31, 2023 and 2022: Schedule of Land Development Cost Capitalized December, 31 2023 2022 Land $ 4,691,430 $ 4,934,323 Licenses 77,000 77,000 Engineering and costs associated with permitting 464,774 464,774 $ 5,233,204 $ 5,476,097 |
Schedule of Components of Potential Dilutive Securities | The table below summarizes the components of potential dilutive securities at December 31, 2023 and 2022. Schedule of Components of Potential Dilutive Securities Description December 31, 2023 December 31, 2022 Convertible Preferred Stock 260,000 260,000 Options to Purchase Common Shares 4,555,000 4,555,000 Total 4,815,000 4,815,000 |
Accounts Payable and Accrued _2
Accounts Payable and Accrued Expenses (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Payables and Accruals [Abstract] | |
Schedule of Accounts Payable and Accrued Expenses | The table below outlines the elements included in accounts payable and accrued expenses at December 31, 2023 and 2022: Schedule of Accounts Payable and Accrued Expenses December 31, December 31, 2023 2022 Related parties: Accrued payroll due officers $ 3,869,711 $ 3,569,711 Accrued interest due officers and directors 2,897,159 2,467,844 Accrued director fees 928,750 838,750 Base rents due to the President 403,276 403,274 Associated rental costs 198,983 165,295 Other 17,308 17,308 Total related parties $ 8,315,187 $ 7,462,182 Non-related parties: Accrued interest $ 3,115,463 $ 2,841,520 Accrued dividends 1,270,000 1,168,400 Accrued fines and penalties 578,775 444,875 Other 308,286 463,743 Total non-related parties $ 5,272,524 $ 4,918,538 |
Convertible Notes and Line of_2
Convertible Notes and Line of Credit (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Convertible Notes And Line Of Credit | |
Schedule of Convertible Notes Payable | The table below summarizes the Company’s debt arising from the above-described sources as of December 31, 2023 and 2022: Schedule of Convertible Notes Payable December 31, 2023 December 31, 2022 Private placements - March 1, 2010* $ 475,000 $ 475,000 Private placements - October 25, 2010 487,500 487,500 $ 962,500 $ 962,500 * Of the 2010 placements above, $ 75,000 |
Stockholders_ Deficit (Tables)
Stockholders’ Deficit (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Equity [Abstract] | |
Schedule of Fixed Plan and Non-plan Options | A summary of the status of the Company’s fixed Plan and non-plan options as of December 31, 2023 and 2022, and changes during the years ended December 31, 2023 and 2022 is presented below. Schedule of Fixed Plan and Non-plan Options Shares Weighted Average Exercise Price Outstanding as of January 1, 2022 4,555,000 $ 0.41 Granted - - Exercised - - Expired - - Forfeited - - Outstanding as of December 31, 2022 4,555,000 $ 0.41 Granted - - Exercised - - Forfeited - - Outstanding as of December 31, 2023 4,555,000 $ 0.41 Exercisable as of December 31, 2022 4,555,000 $ 0.41 Exercisable as of December 31, 2023 4,555,000 $ 0.41 |
Schedule of Stock Options Outstanding and Exercisable | The following tables summarize information about stock options outstanding and exercisable at December 31, 2023 and 2022: Schedule of Stock Options Outstanding and Exercisable December 31, 2023 Options Outstanding Options Exercisable Range of Exercise Prices Number Outstanding at 12/31/23 Weighted-Average Remaining Contractual Life (Yrs.) Weighted Average Exercise Price Number Exercisable at 12/31/23 Weighted Average Exercise Price $ 0.19 2,000,000 2.0 $ 0.19 2,000,000 $ 0.19 0.30 750,000 2.0 0.30 750,000 0.30 0.75 215,000 2.0 0.75 215,000 0.75 1.75 300,000 2.0 1.75 300,000 1.75 0.46 1,290,000 2.0 0.46 1,290,000 0.46 4,555,000 4,555,000 December 31, 2022 Options Outstanding Options Exercisable Range of Exercise Prices Number Outstanding at 12/31/22 Weighted-Average Remaining Contractual Life (Yrs.) Weighted Average Exercise Price Number Exercisable at 12/31/22 Weighted Average Exercise Price $ 0.19 2,000,000 2.0 $ 0.19 2,000,000 $ 0.19 0.30 750,000 2.0 0.30 750,000 0.30 0.75 215,000 2.0 0.75 215,000 0.75 1.75 300,000 2.0 1.75 300,000 1.75 0.46 1,290,000 2.0 0.46 1,290,000 0.46 4,555,000 4,555,000 |
Liquidity and Going Concern (De
Liquidity and Going Concern (Details Narrative) - USD ($) | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Net income (loss) available to common stockholders, basic | $ 1,511,427 | $ 1,957,305 |
Accumulated deficit | 46,862,802 | 45,351,375 |
Accounts payable and accrued expenses | 13,587,711 | |
Cash on hand | $ 426,124 | $ 55,885 |
Schedule of Land Development Co
Schedule of Land Development Cost Capitalized (Details) - USD ($) | Dec. 31, 2023 | Dec. 31, 2022 |
Product Information [Line Items] | ||
Land development costs | $ 5,233,204 | $ 5,476,097 |
Land [Member] | ||
Product Information [Line Items] | ||
Land development costs | 4,691,430 | 4,934,323 |
Licenses [Member] | ||
Product Information [Line Items] | ||
Land development costs | 77,000 | 77,000 |
Engineering and Costs Associated with Permitting [Member] | ||
Product Information [Line Items] | ||
Land development costs | $ 464,774 | $ 464,774 |
Schedule of Components of Poten
Schedule of Components of Potential Dilutive Securities (Details) - shares | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Total | 4,815,000 | 4,815,000 |
Convertible Preferred Stock [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Total | 260,000 | 260,000 |
Options to Purchase Common Shares [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Total | 4,555,000 | 4,555,000 |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies (Details Narrative) - USD ($) | 12 Months Ended | 60 Months Ended | ||||||
Oct. 20, 2023 | Oct. 17, 2023 | Mar. 31, 2023 | Feb. 04, 2022 | Nov. 09, 2020 | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2019 | |
Property, Plant and Equipment [Line Items] | ||||||||
Litigation settlement amount | $ 1,000,000 | $ 1,500,000 | $ 1,500,000 | |||||
Litigation settlement amount received | $ 845,378 | |||||||
Litigation settlement amount receivable | $ 154,622 | |||||||
Remaining gain on condemnation | $ 757,107 | |||||||
Treasury stock, shares | 79,545 | 79,545 | ||||||
Accrued interest current | $ 0 | $ 0 | ||||||
Basic weight average shares not yet issued | 1,140,000 | 860,000 | ||||||
Antidilutive securities excluded from computation of earnings per share amount | 4,815,000 | 4,815,000 | ||||||
Number of options previously granted to purchase of common stock | ||||||||
Exercise price of option granted | ||||||||
Stock based compensation fair value shares issued | $ 0 | $ 0 | ||||||
Share based compensation | $ 11,480 | $ 11,480 | ||||||
Six Current Directors And Three Officers [Member] | Share-Based Payment Arrangement, Option [Member] | ||||||||
Property, Plant and Equipment [Line Items] | ||||||||
Number of options previously granted to purchase of common stock | 1,290,000 | |||||||
Exercise price of option granted | $ 0.46 | |||||||
Expire date | Dec. 31, 2023 | |||||||
Martin Blount [Member] | Share-Based Payment Arrangement, Option [Member] | ||||||||
Property, Plant and Equipment [Line Items] | ||||||||
Number of options previously granted to purchase of common stock | 200,000 | |||||||
Daniel Burstyn [Member] | Share-Based Payment Arrangement, Option [Member] | ||||||||
Property, Plant and Equipment [Line Items] | ||||||||
Number of options previously granted to purchase of common stock | 40,000 | |||||||
Robert Crow [Member] | Share-Based Payment Arrangement, Option [Member] | ||||||||
Property, Plant and Equipment [Line Items] | ||||||||
Number of options previously granted to purchase of common stock | 100,000 | |||||||
Benjamin Harrell [Member] | Share-Based Payment Arrangement, Option [Member] | ||||||||
Property, Plant and Equipment [Line Items] | ||||||||
Number of options previously granted to purchase of common stock | 360,000 | |||||||
Gregory Harrison [Member] | Share-Based Payment Arrangement, Option [Member] | ||||||||
Property, Plant and Equipment [Line Items] | ||||||||
Number of options previously granted to purchase of common stock | 450,000 | |||||||
Deborah Vitale [Member] | Share-Based Payment Arrangement, Option [Member] | ||||||||
Property, Plant and Equipment [Line Items] | ||||||||
Number of options previously granted to purchase of common stock | 140,000 | |||||||
Board of Directors Chairman [Member] | ||||||||
Property, Plant and Equipment [Line Items] | ||||||||
Shares of common stock issued | 35,000 | |||||||
Convertible Debt [Member] | ||||||||
Property, Plant and Equipment [Line Items] | ||||||||
Antidilutive securities excluded from computation of earnings per share amount | 5,055,555 | |||||||
Land [Member] | ||||||||
Property, Plant and Equipment [Line Items] | ||||||||
Reduction of easement value | $ 242,893 | |||||||
Remaining gain on condemnation | 757,107 | |||||||
Total easement value | $ 1,000,000 |
Schedule of Accounts Payable an
Schedule of Accounts Payable and Accrued Expenses (Details) - USD ($) | Dec. 31, 2023 | Dec. 31, 2022 |
Defined Benefit Plan Disclosure [Line Items] | ||
Accrued payroll due officers | $ 3,869,711 | $ 3,569,711 |
Accrued interest due officers and directors | 2,897,159 | 2,467,844 |
Accrued director fees | 928,750 | 838,750 |
Other | 17,308 | 17,308 |
Associated rental costs | 198,983 | 165,295 |
Accrued interest | 3,115,463 | 2,841,520 |
Accrued dividends | 1,270,000 | 1,168,400 |
Accrued fines and penalties | 578,775 | 444,875 |
Other | 308,286 | 463,743 |
Total non-related parties | 5,272,524 | 4,918,538 |
President [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Other | 403,276 | 403,274 |
Related Party [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Total related parties | $ 8,315,187 | $ 7,462,182 |
Schedule of Convertible Notes P
Schedule of Convertible Notes Payable (Details) - Convertible Promissory Note [Member] - USD ($) | Dec. 31, 2023 | Dec. 31, 2022 | |
March 1, 2010 Private Placement [Member] | |||
Short-Term Debt [Line Items] | |||
Convertible notes payable | [1] | $ 475,000 | $ 475,000 |
October 25, 2010 Private Placement [Member] | |||
Short-Term Debt [Line Items] | |||
Convertible notes payable | 487,500 | 487,500 | |
Private Placement [Member] | |||
Short-Term Debt [Line Items] | |||
Convertible notes payable | $ 962,500 | $ 962,500 | |
[1]Of the 2010 placements above, $ 75,000 |
Schedule of Convertible Notes_2
Schedule of Convertible Notes Payable (Details) (Parenthetical) - USD ($) | Dec. 31, 2023 | Dec. 31, 2022 |
Short-Term Debt [Line Items] | ||
Due to a related party | $ 17,308 | $ 17,308 |
March 1, 2010 Private Placement [Member] | Convertible Promissory Note [Member] | ||
Short-Term Debt [Line Items] | ||
Due to a related party | $ 75,000 | $ 75,000 |
Convertible Notes and Line of_3
Convertible Notes and Line of Credit (Details Narrative) - USD ($) | 12 Months Ended | ||||||||
Nov. 30, 2020 | Oct. 25, 2010 | Mar. 01, 2010 | Dec. 31, 2008 | Dec. 31, 2023 | Dec. 31, 2022 | Oct. 31, 2017 | Sep. 26, 2014 | ||
Line of Credit Facility [Line Items] | |||||||||
Debt instrument interest rate stated percentage | 4% | ||||||||
Convertible Promissory Note [Member] | |||||||||
Line of Credit Facility [Line Items] | |||||||||
Debt instrument face amount | $ 150,000 | ||||||||
March 1, 2010 Private Placement [Member] | Convertible Promissory Note [Member] | |||||||||
Line of Credit Facility [Line Items] | |||||||||
Debt instrument convertible term | two year | ||||||||
Debt instrument face amount | $ 25,000 | ||||||||
Debt instrument interest rate stated percentage | 12% | ||||||||
Debt conversion converted instrument shares issued1 | 50,000 | ||||||||
Debt instrument term | 5 years | ||||||||
Convertible notes payable, current | [1] | $ 475,000 | $ 475,000 | ||||||
October 25, 2010 Private Placement [Member] | Convertible Promissory Note [Member] | |||||||||
Line of Credit Facility [Line Items] | |||||||||
Debt instrument convertible term | two year | ||||||||
Debt instrument face amount | $ 25,000 | ||||||||
Debt instrument interest rate stated percentage | 9% | ||||||||
Debt conversion converted instrument shares issued1 | 50,000 | ||||||||
Debt instrument term | 5 years | ||||||||
Convertible notes payable, current | 487,500 | 487,500 | |||||||
Private Placement [Member] | Convertible Promissory Note [Member] | |||||||||
Line of Credit Facility [Line Items] | |||||||||
Convertible notes payable, current | 962,500 | 962,500 | |||||||
Debt instrument, periodic payment | $ 486,796 | ||||||||
Interest payable | 1,145,957 | 1,043,547 | |||||||
Line of Credit [Member] | |||||||||
Line of Credit Facility [Line Items] | |||||||||
Line of credit facility maximum borrowing capacity | $ 1,000,000 | ||||||||
Line of credit facility interest rate during period | 9% | ||||||||
Line of credit facility expiration date | Nov. 01, 2012 | ||||||||
Number of options awarded | 50,000 | ||||||||
Weighted average grant date fair value | $ 1.75 | ||||||||
Total unpaid principal and accrued interest due on obligation | $ 2,302,929 | $ 2,213,422 | |||||||
Line of Credit [Member] | Maximum [Member] | Lender [Member] | |||||||||
Line of Credit Facility [Line Items] | |||||||||
Number of options awarded | 250,000 | ||||||||
Weighted average grant date fair value | $ 1.75 | ||||||||
[1]Of the 2010 placements above, $ 75,000 |
Convertible Debentures (Details
Convertible Debentures (Details Narrative) - USD ($) | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Sep. 26, 2014 | |
Debt Instrument [Line Items] | |||
Debt interest rate | 4% | ||
Convertible debenture payable | $ 1,800,000 | $ 1,800,000 | |
February 14, 2014 Private Placement [Member] | Convertible Debt Securities [Member] | Tranche 1 [Member] | |||
Debt Instrument [Line Items] | |||
Collateralized convertible senior debentures | $ 1,000,000 | ||
Conversion of debenture into shares of common stock | 3,333,333 | ||
Debt instrument, convertible, conversion price | $ 0.30 | ||
Convertible debenture payable | $ 950,000 | ||
February 14, 2014 Private Placement [Member] | Convertible Debt Securities [Member] | Tranche 2 [Member] | |||
Debt Instrument [Line Items] | |||
Collateralized convertible senior debentures | $ 1,000,000 | ||
Conversion of debenture into shares of common stock | 2,222,222 | ||
Debt instrument, convertible, conversion price | $ 0.45 | ||
Convertible debenture payable | $ 850,000 | ||
February 14, 2014 Private Placement [Member] | Convertible Debt Securities [Member] | Tranche 3 [Member] | |||
Debt Instrument [Line Items] | |||
Collateralized convertible senior debentures | $ 1,000,000 | ||
Debt instrument, convertible, conversion price | $ 0.75 | ||
February 14, 2014 Private Placement [Member] | Convertible Debt Securities [Member] | Tranche 3 [Member] | Minimum [Member] | |||
Debt Instrument [Line Items] | |||
Conversion of debenture into shares of common stock | 1,818,182 | ||
Debt instrument, convertible, conversion price | $ 0.55 | ||
February 14, 2014 Private Placement [Member] | Convertible Debt Securities [Member] | Tranche 3 [Member] | Maximum [Member] | |||
Debt Instrument [Line Items] | |||
Conversion of debenture into shares of common stock | 1,333,333 | ||
February 14, 2014 Private Placement [Member] | Non Convertible Senior Debentures [Member] | |||
Debt Instrument [Line Items] | |||
Convertible debenture payable | $ 50,000 | ||
February 14, 2014 Private Placement [Member] | Convertable Senior Debentures [Member] | |||
Debt Instrument [Line Items] | |||
Maximum offering amount | 3,000,000 | ||
Debt principal amount | $ 3,000,000 | ||
February 14, 2014 Private Placement [Member] | Convertible Senior Debentures [Member] | |||
Debt Instrument [Line Items] | |||
Debt interest rate | 4% | ||
Debt instrument, maturity date, description | matured six years from the date of issuance | ||
Convertible Debentures [Member] | |||
Debt Instrument [Line Items] | |||
Due under debenture agreements | $ 427,081 | ||
Accrued interest due | $ 750,719 | $ 617,733 |
Short Term Notes and Interest_2
Short Term Notes and Interest-Bearing Advance (Details Narrative) - USD ($) | 1 Months Ended | 3 Months Ended | 12 Months Ended | |||||||
Jun. 09, 2017 | Feb. 02, 2017 | Aug. 25, 2016 | Nov. 30, 2023 | Dec. 31, 2023 | Dec. 31, 2023 | Dec. 31, 2016 | Nov. 28, 2023 | Dec. 31, 2022 | Sep. 26, 2014 | |
Short-Term Debt [Line Items] | ||||||||||
Debt interest rate | 4% | |||||||||
Short term notes and interest bearing advance | $ 65,504 | |||||||||
Unrelated Third Party [Member] | ||||||||||
Short-Term Debt [Line Items] | ||||||||||
Debt interest rate | 12.50% | |||||||||
Accrued interest | $ 6,644 | $ 6,644 | $ 18,493 | |||||||
Short term notes and interest bearing advance | $ 25,000 | |||||||||
Repayments of Debt | $ 15,000 | |||||||||
Seven Lenders [Member] | ||||||||||
Short-Term Debt [Line Items] | ||||||||||
Debt interest rate | 8% | |||||||||
Accrued interest | 16,000 | 16,000 | 14,000 | |||||||
Cash received advances | $ 47,500 | |||||||||
Debt matures term | 4 years | |||||||||
Third Parties [Member] | ||||||||||
Short-Term Debt [Line Items] | ||||||||||
Cash received advances | $ 22,500 | |||||||||
Seven Lenders and Third Parties [Member] | ||||||||||
Short-Term Debt [Line Items] | ||||||||||
Debt interest rate | 8% | |||||||||
Accrued interest | 16,400 | 16,400 | 14,200 | |||||||
Debt matures term | 4 years | |||||||||
Lender [Member] | ||||||||||
Short-Term Debt [Line Items] | ||||||||||
Increase in interest rate per annum | 3% | |||||||||
Promissory Note [Member] | ||||||||||
Short-Term Debt [Line Items] | ||||||||||
Proceeds from Notes Payable | $ 15,000 | |||||||||
Debt interest rate | 12.50% | |||||||||
Debt Instrument, Maturity Date | Jun. 09, 2019 | |||||||||
Repayments of Short-Term Debt | 15,000 | |||||||||
Accrued interest | 14,165 | 14,165 | $ 15,000 | |||||||
Bank Credit Facility [Member] | ||||||||||
Short-Term Debt [Line Items] | ||||||||||
Line of credit facility, maximum borrowing capacity | 15,000 | 15,000 | ||||||||
Line of credit | $ 18,004 | $ 18,004 | $ 18,004 | |||||||
Bank Credit Facility [Member] | Direct Charges [Member] | ||||||||||
Short-Term Debt [Line Items] | ||||||||||
Line of credit commitment fee percent rate | 11.24% | |||||||||
Bank Credit Facility [Member] | Cash Advanced Through The Facility [Member] | ||||||||||
Short-Term Debt [Line Items] | ||||||||||
Line of credit commitment fee percent rate | 24.99% |
Current Notes Payable Due Rel_2
Current Notes Payable Due Related Parties (Details Narrative) | 1 Months Ended | 3 Months Ended | 12 Months Ended | |||||||||||||||||||
Nov. 01, 2023 USD ($) | Jul. 28, 2023 USD ($) shares | Feb. 17, 2023 USD ($) shares | Feb. 04, 2022 shares | May 30, 2021 USD ($) shares | Sep. 30, 2018 USD ($) | Aug. 21, 2018 USD ($) | Jul. 24, 2017 USD ($) | Aug. 25, 2016 | Mar. 31, 2022 USD ($) shares | May 31, 2021 USD ($) a | Jul. 31, 2020 USD ($) a | Mar. 31, 2019 USD ($) | Nov. 30, 2018 USD ($) | Mar. 31, 2018 USD ($) | Jul. 31, 2017 USD ($) a | Sep. 30, 2016 USD ($) | Dec. 31, 2023 USD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2016 USD ($) | Dec. 31, 2021 USD ($) | Sep. 26, 2014 | |
Debt instrument interest rate stated percentage | 4% | |||||||||||||||||||||
Proceeds from related parties | $ 97,020 | |||||||||||||||||||||
Fair value of the stock | 98,000 | |||||||||||||||||||||
Proceeds from eminent domain settlement | $ 25,000 | |||||||||||||||||||||
Eminent domain settlement | $ 74,520 | |||||||||||||||||||||
Repayment of related party debt | 118,132 | 15,104 | ||||||||||||||||||||
Board of Directors Chairman [Member] | ||||||||||||||||||||||
Area of land, owned | a | 400 | 400 | ||||||||||||||||||||
Proceeds from repayments of secured debt | $ 200,000 | $ 100,000 | ||||||||||||||||||||
Issuance of shares | shares | 150,000 | 50,000 | 100,000 | |||||||||||||||||||
Debt instrument face amount | $ 75,000 | $ 25,000 | $ 50,000 | |||||||||||||||||||
Taxes payable | $ 62,610 | $ 67,076 | ||||||||||||||||||||
Property related fees | 1,468 | 1,573 | ||||||||||||||||||||
Debt instrument periodic payment principal | 50,000 | |||||||||||||||||||||
Fair value of the stock | $ 33,500 | |||||||||||||||||||||
Fair value of the stock | $ 17,500 | |||||||||||||||||||||
Debt discount amortized interest expense | 17,096 | |||||||||||||||||||||
Board of Directors Chairman [Member] | July 28, 2023 [Member] | ||||||||||||||||||||||
Issuance of shares | shares | 150,000 | |||||||||||||||||||||
Debt instrument face amount | $ 75,000 | |||||||||||||||||||||
Fair value of the stock | $ 52,500 | |||||||||||||||||||||
Debt discount amortized interest expense | 22,644 | |||||||||||||||||||||
Board of Directors Chairman [Member] | July, 2021 [Member] | ||||||||||||||||||||||
Proceeds from secured debt | $ 100,000 | $ 150,000 | ||||||||||||||||||||
Board of Directors Chairman [Member] | March 2018 and March 2019 [Member] | ||||||||||||||||||||||
Accrued interest | 349,415 | 279,754 | ||||||||||||||||||||
Debt instrument face amount | 467,953 | |||||||||||||||||||||
Repayment of related party debt | $ 16,250 | |||||||||||||||||||||
President [Member] | ||||||||||||||||||||||
Debt instrument interest rate stated percentage | 9% | |||||||||||||||||||||
Accrued interest | $ 23,763 | 41,409 | ||||||||||||||||||||
Secured obligation | $ 100,000 | |||||||||||||||||||||
Repayments of debt | 68,562 | |||||||||||||||||||||
Other accrued liabilities current and noncurrent | 18,000 | |||||||||||||||||||||
President [Member] | Loan One [Member] | ||||||||||||||||||||||
Line of credit | $ 25,000 | 25,000 | ||||||||||||||||||||
President [Member] | Loan Two [Member] | ||||||||||||||||||||||
Line of credit | 15,000 | 15,000 | ||||||||||||||||||||
President [Member] | Two Loans [Member] | ||||||||||||||||||||||
Line of credit facility maximum borrowing capacity | 15,000 | |||||||||||||||||||||
Related Party [Member] | ||||||||||||||||||||||
Debt discount | 33,241 | 0 | ||||||||||||||||||||
Maximum [Member] | Board of Directors [Member] | ||||||||||||||||||||||
Proceeds from repayments of secured debt | $ 100,000 | |||||||||||||||||||||
Proceeds from repayment of related party debt | $ 20,000 | |||||||||||||||||||||
Related party transaction terms and manner of settlement | interest of 15% per annum on the amount advanced and owing and that the full 15% interest per annum is payable during any calendar year in which all or part of the amount advanced and owing or interest due thereon remains unpaid; (ii) the obligation in the maximum principal amount of $100,000 with interest due thereon be treated as a secured debt of the Company, to be evidenced by a separate note and to be secured with a separate lien to be placed on the Diamondhead Property (“the Third Lien”) together with the Chairman’s Third Lien, as well as a first lien to be placed on the residential lot owned by the Company; (iii) that the Third Lien on the Diamondhead Property also include the two loans ($25,000 and $15,000) and interest due thereon and credit facilities in the maximum amount of $15,000; and (iv) that the foregoing will be treated as advances to be paid out of any subsequent incoming financing obtained by the Company or any amounts recovered by the Company from a defendant in that collection action brought by the Company in the Circuit Court of Montgomery County, Maryland. | |||||||||||||||||||||
Maximum [Member] | President [Member] | ||||||||||||||||||||||
Proceeds from repayments of secured debt | $ 100,000 | |||||||||||||||||||||
Fair Value, Inputs, Level 1 [Member] | ||||||||||||||||||||||
Derivative fair value of derivative net | $ 0 | |||||||||||||||||||||
Payable During any Calendar Year [Member] | ||||||||||||||||||||||
Debt instrument interest rate stated percentage | 11% | |||||||||||||||||||||
Mississippi Gaming Corporation [Member] | Board of Directors Chairman [Member] | ||||||||||||||||||||||
Issuance of shares | shares | 35,000 | |||||||||||||||||||||
Mississippi Gaming Corporation [Member] | Maximum [Member] | Board of Directors Chairman [Member] | ||||||||||||||||||||||
Debt instrument face amount | 200,000 | |||||||||||||||||||||
Diamondhead Casino Corporation [Member] | Board of Directors Chairman [Member] | ||||||||||||||||||||||
Secured obligation | 200,000 | |||||||||||||||||||||
Mississippi Property [Member] | ||||||||||||||||||||||
Issuance of shares | shares | 160,000 | |||||||||||||||||||||
Debt instrument face amount | $ 80,000 | |||||||||||||||||||||
Taxes payable | 60,436 | |||||||||||||||||||||
Repayment of related party debt | $ 80,000 | |||||||||||||||||||||
Diamond Head Property [Member] | ||||||||||||||||||||||
Proceeds from repayments of secured debt | 400,000 | |||||||||||||||||||||
Seven Lenders [Member] | ||||||||||||||||||||||
Cash received from advances | $ 47,500 | |||||||||||||||||||||
Debt matures term | 4 years | |||||||||||||||||||||
Debt instrument interest rate stated percentage | 8% | |||||||||||||||||||||
Accrued interest | 16,000 | 14,000 | ||||||||||||||||||||
Three Current Directors [Member] | ||||||||||||||||||||||
Cash received from advances | $ 25,000 | |||||||||||||||||||||
Board of Directors Chairman [Member] | ||||||||||||||||||||||
Debt matures term | 4 years | |||||||||||||||||||||
Debt instrument interest rate stated percentage | 14% | |||||||||||||||||||||
Accrued interest | 93,482 | 80,882 | ||||||||||||||||||||
Proceeds from related parties | $ 90,000 | |||||||||||||||||||||
Proceeds from repayments of secured debt | $ 200,000 | |||||||||||||||||||||
Terms on advances from chairman description | (i) the advance constitutes a lien on the Property with interest at 15% per annum; (ii) that the full interest of 15% per annum is payable during any calendar year in which all or part of the amount advanced is due and owing or interest due thereon remains unpaid; (iii) that this debt be evidenced by a separate promissory note and is to be included in and secured with a third lien that is to be placed on the Diamondhead Property to secure previous advances made to the Company (hereafter “the Third Lien”); (iv) that he be indemnified for any losses sustained on the sale of his common stock in an unrelated publicly-traded company to be sold to cover this advance based on a sales price of approximately $2.80 per share with a cap on the maximum loss per share to be at a sales price of $10.00 per share; and (v) that the Chairman’s previous indemnification approved by the Board of Directors on July 24, 2017 with respect to any loss on the sale of the same stock also be capped at a maximum of $10.00 per share. | |||||||||||||||||||||
Issuance of shares | shares | 35,000 | |||||||||||||||||||||
Board of Directors Chairman [Member] | Maximum [Member] | ||||||||||||||||||||||
Proceeds from repayments of secured debt | $ 100,000 | |||||||||||||||||||||
Board of Directors Chairman [Member] | Mississippi Gaming Corporation [Member] | ||||||||||||||||||||||
Accrued interest | 69,527 | 59,360 | ||||||||||||||||||||
Increase decrease in property and other taxes payable | $ 67,628 | |||||||||||||||||||||
Shares issued | shares | 35,000 | |||||||||||||||||||||
Secured obligation | $ 100,000 | |||||||||||||||||||||
Board of Directors Chairman [Member] | Mississippi Property [Member] | ||||||||||||||||||||||
Area of land, owned | a | 400 | |||||||||||||||||||||
Notes payable | $ 67,628 | |||||||||||||||||||||
Board of Directors Chairman [Member] | Diamond Head Property [Member] | ||||||||||||||||||||||
Proceeds from repayments of secured debt | 300,000 | |||||||||||||||||||||
President [Member] | Related Party [Member] | ||||||||||||||||||||||
Due from officers or stockholders | 5,007 | |||||||||||||||||||||
President [Member] | Diamond Head Property [Member] | ||||||||||||||||||||||
Proceeds from repayments of secured debt | 100,000 | |||||||||||||||||||||
Officers and Directors [Member] | ||||||||||||||||||||||
Debt instrument face amount | 669,279 | 720,651 | ||||||||||||||||||||
Debt discount | $ 33,241 | $ 0 |
Notes Payable Due Others (Detai
Notes Payable Due Others (Details Narrative) - USD ($) | 1 Months Ended | 2 Months Ended | 12 Months Ended | 15 Months Ended | ||||||||||||
Nov. 01, 2023 | Aug. 08, 2023 | Apr. 30, 2022 | Mar. 31, 2022 | Nov. 30, 2021 | Jul. 31, 2021 | Dec. 31, 2020 | Oct. 31, 2017 | May 31, 2021 | Feb. 28, 2021 | Dec. 31, 2023 | Dec. 31, 2022 | Jun. 30, 2022 | Dec. 31, 2021 | Jan. 31, 2021 | Sep. 26, 2014 | |
Debt Instrument [Line Items] | ||||||||||||||||
Debt instrument interest rate stated percentage | 4% | |||||||||||||||
Proceeds from non-interest bearing advances from others | $ 40,000 | $ 130,000 | ||||||||||||||
Repayment of related party debt | 118,132 | 15,104 | ||||||||||||||
Proceeds of eminent domain settlement | $ 25,000 | |||||||||||||||
Thirteen Liens [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Debt instrument unamortized discount | 98,000 | $ 102,000 | ||||||||||||||
Issuance of shares | 760,000 | |||||||||||||||
Debt instrument, call feature | There is a call for the issuance of a total of 760,000 shares of common stock in connection with the notes and liens, however, no shares have been issued to date. | |||||||||||||||
Liabilities fair value adjustment | $ 22,050 | |||||||||||||||
Mississippi Property [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Principal amount | $ 80,000 | |||||||||||||||
Taxes payable current and noncurrent | 60,436 | |||||||||||||||
Additional loan amount | $ 19,564 | |||||||||||||||
Issuance of shares | 160,000 | |||||||||||||||
Repayment of related party debt | $ 80,000 | |||||||||||||||
Unrelated Lenders [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Fair value of stock | 27,200 | |||||||||||||||
Amortization of debt discount | 11,439 | |||||||||||||||
Proceeds of eminent domain settlement | $ 20,000 | |||||||||||||||
Others [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Amortization of debt discount | 36,376 | 141,663 | ||||||||||||||
Notes payable, current | $ 541,739 | $ 532,563 | ||||||||||||||
Convertible Promissory Note [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Legal fees | $ 50,000 | |||||||||||||||
Debt instrument term | four year | |||||||||||||||
Debt instrument interest rate stated percentage | 0% | |||||||||||||||
Secured Promissory Notes [Member] | Mississippi Property [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Principal amount | $ 40,000 | |||||||||||||||
Issuance of shares | 80,000 | |||||||||||||||
Number of stock issued, value | $ 40,000 | |||||||||||||||
Convertible Promissory Note [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Principal amount | $ 150,000 | |||||||||||||||
Three Promissory Notes [Member] | Unrelated Lenders [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Principal amount | 126,250 | |||||||||||||||
Proceeds from non-interest bearing advances from others | 100,000 | $ 100,000 | ||||||||||||||
Debt instrument unamortized discount | $ 26,250 | 20,000 | ||||||||||||||
Maturity date description | The notes are non-interest bearing and matured in December 2021, one year after the notes’ issuances. These notes are currently in default. | |||||||||||||||
Promissory Note One [Member] | Unrelated Lenders [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Principal amount | $ 50,000 | $ 50,000 | $ 25,000 | 70,000 | $ 25,000 | |||||||||||
Proceeds from non-interest bearing advances from others | $ 50,000 | $ 50,000 | $ 25,000 | |||||||||||||
Promissory Notes Two [Member] | Unrelated Lenders [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Principal amount | 25,000 | $ 31,250 | ||||||||||||||
Two Additional Promissory Notes [Member] | Unrelated Lenders [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Principal amount | $ 20,000 | |||||||||||||||
Proceeds from non-interest bearing advances from others | $ 40,000 | 50,000 | ||||||||||||||
Debt instrument unamortized discount | $ 6,250 | |||||||||||||||
Issuance of shares | 40,000 | |||||||||||||||
Debt term | 1 year | |||||||||||||||
Promissory Notes Three [Member] | Unrelated Lenders [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Principal amount | $ 25,000 |
Long Term Notes and Interest-_2
Long Term Notes and Interest-Bearing Advance (Details Narrative) - USD ($) | Jun. 09, 2017 | Dec. 31, 2023 | Nov. 28, 2023 | Sep. 26, 2014 |
Short-Term Debt [Line Items] | ||||
Interest rate | 4% | |||
Promissory Note [Member] | ||||
Short-Term Debt [Line Items] | ||||
Proceeds from notes payable | $ 15,000 | |||
Interest rate | 12.50% | |||
Maturity date | Jun. 09, 2019 | |||
Accrued interest | $ 14,165 | $ 15,000 |
Related Party Transactions (Det
Related Party Transactions (Details Narrative) - USD ($) | 12 Months Ended | ||||||||||
Nov. 01, 2023 | Jul. 28, 2023 | Feb. 17, 2023 | Feb. 04, 2022 | Feb. 04, 2022 | May 30, 2021 | Dec. 31, 2023 | Dec. 31, 2022 | Oct. 31, 2017 | Aug. 25, 2016 | Sep. 26, 2014 | |
Related Party Transaction [Line Items] | |||||||||||
Interest rate | 4% | ||||||||||
Monthly base rent | $ 4,534 | ||||||||||
Rent expense | 54,408 | $ 54,408 | |||||||||
Associated rental costs | 33,689 | 30,737 | |||||||||
Operating lease expense | 88,097 | 85,145 | |||||||||
Stock based compensation fair value shares issued | 11,480 | 11,480 | |||||||||
Eminent domain settlement | $ 74,520 | ||||||||||
Remaining balance debt | 480 | ||||||||||
Convertible Promissory Note [Member] | |||||||||||
Related Party Transaction [Line Items] | |||||||||||
Interest rate | 0% | ||||||||||
Director [Member] | |||||||||||
Related Party Transaction [Line Items] | |||||||||||
Directors fees | 15,000 | ||||||||||
Current And Former Directors [Member] | |||||||||||
Related Party Transaction [Line Items] | |||||||||||
Accrued directors fees | 928,750 | 838,750 | |||||||||
Mr. Harrison [Member] | |||||||||||
Related Party Transaction [Line Items] | |||||||||||
Number of shares issued | 35,000 | ||||||||||
Board of Directors Chairman [Member] | |||||||||||
Related Party Transaction [Line Items] | |||||||||||
Interest rate | 14% | ||||||||||
Interest payable | 93,482 | 80,882 | |||||||||
Number of shares issued | 35,000 | ||||||||||
Board of Directors Chairman [Member] | Convertible Promissory Note [Member] | |||||||||||
Related Party Transaction [Line Items] | |||||||||||
Number of shares issued | 50,000 | ||||||||||
Debt instrument face amount | $ 25,000 | ||||||||||
President [Member] | |||||||||||
Related Party Transaction [Line Items] | |||||||||||
Deferred salary | $ 3,666,996 | ||||||||||
Interest rate | 9% | ||||||||||
Interest payable | $ 23,763 | 41,409 | |||||||||
Rental costs | 602,252 | 568,569 | |||||||||
Vice President and Current Chairman of Board of Directors [Member] | |||||||||||
Related Party Transaction [Line Items] | |||||||||||
Deferred salary | 121,140 | ||||||||||
Management [Member] | |||||||||||
Related Party Transaction [Line Items] | |||||||||||
Interest expense | 326,360 | 288,547 | |||||||||
Interest payable | $ 2,237,878 | $ 1,781,809 | |||||||||
Board of Directors Chairman [Member] | |||||||||||
Related Party Transaction [Line Items] | |||||||||||
Number of shares issued | 150,000 | 50,000 | 100,000 | ||||||||
Debt instrument face amount | $ 75,000 | $ 25,000 | $ 50,000 | ||||||||
Board of Directors Chairman [Member] | Minimum [Member] | |||||||||||
Related Party Transaction [Line Items] | |||||||||||
Payments for loans | 25,000 | ||||||||||
Board of Directors Chairman [Member] | Maximum [Member] | |||||||||||
Related Party Transaction [Line Items] | |||||||||||
Payments for loans | $ 75,000 |
Schedule of Fixed Plan and Non-
Schedule of Fixed Plan and Non-plan Options (Details) - $ / shares | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Equity [Abstract] | ||
Options, Outstanding, Beginning Balance | 4,555,000 | 4,555,000 |
Options, Outstanding, Weighted Average Exercise Price, Beginning Balance | $ 0.41 | $ 0.41 |
Options, Granted | ||
Options, Granted, Weighted Average Exercise Price | ||
Options, Exercised | ||
Options, Exercised, Weighted Average Exercise Price | ||
Options, Expired | ||
Options, Forfeited, Weighted Average Exercise Price | ||
Options, Forfeited | ||
Options, Forfeited, Weighted Average Exercise Price | ||
Options, Outstanding, Ending Balance | 4,555,000 | 4,555,000 |
Options, Outstanding, Weighted Average Exercise Price, Ending Balance | $ 0.41 | $ 0.41 |
Options, Exercisable, Ending Balance | 4,555,000 | 4,555,000 |
Options, Exercisable, Weighted Average Exercise Price, Ending Balance | $ 0.41 | $ 0.41 |
Schedule of Stock Options Outst
Schedule of Stock Options Outstanding and Exercisable (Details) - $ / shares | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items] | ||
Options Outstanding, Number Outstanding | 4,555,000 | 4,555,000 |
Number of Exercisable Options | 4,555,000 | 4,555,000 |
Exercise Price Range One [Member] | ||
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items] | ||
Range of Exercise Prices | $ 0.19 | $ 0.19 |
Options Outstanding, Number Outstanding | 2,000,000 | 2,000,000 |
Options Outstanding, Weighted Average Remaining Contractual Life (Yrs) | 2 years | 2 years |
Outstanding Options, Weighted Average Exercise Price | $ 0.19 | $ 0.19 |
Number of Exercisable Options | 2,000,000 | 2,000,000 |
Exercisable Options, Weighted Average Exercise Price | $ 0.19 | $ 0.19 |
Exercise Price Range Two [Member] | ||
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items] | ||
Range of Exercise Prices | $ 0.30 | $ 0.30 |
Options Outstanding, Number Outstanding | 750,000 | 750,000 |
Options Outstanding, Weighted Average Remaining Contractual Life (Yrs) | 2 years | 2 years |
Outstanding Options, Weighted Average Exercise Price | $ 0.30 | $ 0.30 |
Number of Exercisable Options | 750,000 | 750,000 |
Exercisable Options, Weighted Average Exercise Price | $ 0.30 | $ 0.30 |
Exercise Price Range Three [Member] | ||
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items] | ||
Range of Exercise Prices | $ 0.75 | $ 0.75 |
Options Outstanding, Number Outstanding | 215,000 | 215,000 |
Options Outstanding, Weighted Average Remaining Contractual Life (Yrs) | 2 years | 2 years |
Outstanding Options, Weighted Average Exercise Price | $ 0.75 | $ 0.75 |
Number of Exercisable Options | 215,000 | 215,000 |
Exercisable Options, Weighted Average Exercise Price | $ 0.75 | $ 0.75 |
Exercise Price Range Four [Member] | ||
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items] | ||
Range of Exercise Prices | $ 1.75 | $ 1.75 |
Options Outstanding, Number Outstanding | 300,000 | 300,000 |
Options Outstanding, Weighted Average Remaining Contractual Life (Yrs) | 2 years | 2 years |
Outstanding Options, Weighted Average Exercise Price | $ 1.75 | $ 1.75 |
Number of Exercisable Options | 300,000 | 300,000 |
Exercisable Options, Weighted Average Exercise Price | $ 1.75 | $ 1.75 |
Exercise Price Range Five [Member] | ||
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items] | ||
Range of Exercise Prices | $ 0.46 | $ 0.46 |
Options Outstanding, Number Outstanding | 1,290,000 | 1,290,000 |
Options Outstanding, Weighted Average Remaining Contractual Life (Yrs) | 2 years | 2 years |
Outstanding Options, Weighted Average Exercise Price | $ 0.46 | $ 0.46 |
Number of Exercisable Options | 1,290,000 | 1,290,000 |
Exercisable Options, Weighted Average Exercise Price | $ 0.46 | $ 0.46 |
Stockholders_ Deficit (Details
Stockholders’ Deficit (Details Narrative) - USD ($) | 12 Months Ended | |||||||
Nov. 09, 2020 | Nov. 06, 2020 | Jan. 03, 2018 | Dec. 19, 1988 | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2018 | Dec. 31, 2021 | |
Class of Stock [Line Items] | ||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number | 4,555,000 | 4,555,000 | 4,555,000 | |||||
Share-Based Payment Arrangement, Noncash Expense | $ 546,400 | $ 11,480 | $ 21,570 | |||||
Number of options previously granted to purchase of common stock | ||||||||
Exercise price of option granted | ||||||||
Exercises in Period | ||||||||
Preferred stock, shares outstanding | 2,086,000 | 2,086,000 | ||||||
Preferred stock, par value | $ 0.01 | $ 0.01 | ||||||
Series S Preferred Stock [Member] | ||||||||
Class of Stock [Line Items] | ||||||||
Preferred stock, shares outstanding | 926,000 | 926,000 | ||||||
Preferred stock, par value | $ 0.01 | |||||||
Preferred stock, redemption terms | These shares may be redeemed at the option of the Company at $1.08 per share plus $.0108 per share for each quarter that such shares are outstanding for a total of $2.18 per share at December 31, 2023 | |||||||
Preferred stock, liquidation preference per share | $ 1.08 | |||||||
Cumulative dividends | $ 375,000 | $ 345,000 | ||||||
Series S-NR Preferred Stock [Member] | ||||||||
Class of Stock [Line Items] | ||||||||
Preferred stock, shares outstanding | 900,000 | 900,000 | ||||||
Preferred stock, par value | $ 0.01 | |||||||
Preferred stock, liquidation preference per share | $ 1.11 | |||||||
Non-cumulative dividends in arrears | $ 375,000 | $ 345,000 | ||||||
Series S-PIK Preferred Stock [Member] | ||||||||
Class of Stock [Line Items] | ||||||||
Preferred stock, shares outstanding | 260,000 | 260,000 | ||||||
Preferred stock, par value | $ 0.001 | |||||||
Preferred stock, liquidation preference per share | $ 2 | |||||||
Cumulative dividends | $ 520,000 | $ 478,400 | ||||||
Convertible preferred stock, terms of conversion | Each share of Series S-PIK preferred stock is convertible into one share of the Company’s common voting stock at any time after February 15, 1995 | |||||||
Conversion of stock shares converted | 0 | 0 | ||||||
Preferred stock, dividend rate, per-dollar-amount | $ 0.04 | |||||||
Series SPIK Junior Preferred Stock [Member] | ||||||||
Class of Stock [Line Items] | ||||||||
Preferred stock, par value | $ 0.01 | |||||||
Stock Option Plan [Member] | ||||||||
Class of Stock [Line Items] | ||||||||
Share based compensation, Number of shares authorized | 1,000,000 | |||||||
Common stock reserved for future issuance | 1,000,000 | |||||||
Expiration Period | 10 years | |||||||
Stock Option Plan [Member] | Minimum [Member] | ||||||||
Class of Stock [Line Items] | ||||||||
Exercise price percentage | 100% | |||||||
Director [Member] | ||||||||
Class of Stock [Line Items] | ||||||||
Lessee, Operating Lease, Option to Extend | the Board of Directors voted to extend 2,965,000 of these outstanding options from December 31, 2020 to December 31, 2023. In December 2023, the Board of Directors voted to extend the expiration date of all options to December 31, 2025. As a result of the modification to the options, the Company recorded an additional $546,400 in stock based compensation expense for the year ended December 31, 2023. Accordingly, 150,000 of these 3,115,000 options expired at December 31, 2020 | |||||||
Six Current Directors And Three Officers [Member] | Share-Based Payment Arrangement, Option [Member] | ||||||||
Class of Stock [Line Items] | ||||||||
Number of options previously granted to purchase of common stock | 1,290,000 | |||||||
Exercise price of option granted | $ 0.46 | |||||||
Expiration date | Dec. 31, 2023 | |||||||
Martin Blount [Member] | Share-Based Payment Arrangement, Option [Member] | ||||||||
Class of Stock [Line Items] | ||||||||
Number of options previously granted to purchase of common stock | 200,000 | |||||||
Daniel Burstyn [Member] | Share-Based Payment Arrangement, Option [Member] | ||||||||
Class of Stock [Line Items] | ||||||||
Number of options previously granted to purchase of common stock | 40,000 | |||||||
Robert Crow [Member] | Share-Based Payment Arrangement, Option [Member] | ||||||||
Class of Stock [Line Items] | ||||||||
Number of options previously granted to purchase of common stock | 100,000 | |||||||
Benjamin Harrell [Member] | Share-Based Payment Arrangement, Option [Member] | ||||||||
Class of Stock [Line Items] | ||||||||
Number of options previously granted to purchase of common stock | 360,000 | |||||||
Gregory Harrison [Member] | Share-Based Payment Arrangement, Option [Member] | ||||||||
Class of Stock [Line Items] | ||||||||
Number of options previously granted to purchase of common stock | 450,000 | |||||||
Deborah Vitale [Member] | Share-Based Payment Arrangement, Option [Member] | ||||||||
Class of Stock [Line Items] | ||||||||
Number of options previously granted to purchase of common stock | 140,000 | |||||||
Board of Directors Chairman [Member] | ||||||||
Class of Stock [Line Items] | ||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Non-Option Equity Instruments, Other, Description | extend from March 13, 2018 to December 31, 2020 | |||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number | 3,115,000 |
Employee Stock Ownership Plan (
Employee Stock Ownership Plan (Details Narrative) - USD ($) | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Retirement Benefits [Abstract] | ||
Fair market value, shares | 1,670,465 | |
Fair market value | $ 350,464 | |
Shares repurchased during period, shares | 79,545 | 79,545 |
Shares repurchased during period, value | $ 16,704 | $ 30,227 |
Income Taxes (Details Narrative
Income Taxes (Details Narrative) - USD ($) | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Income Tax Disclosure [Abstract] | ||
Operating Loss Carryforwards | $ 5,600,000 | |
Net operating loss carry forwards expiration date descrption | expire during various periods through 2041 | |
Tax Credit Carryforward, Description | federal statutory rate of 21% to the carryforward amounts | |
Deferred Tax Assets, Valuation Allowance | $ 1,300,000 | $ 1,700,000 |
Effective Income Tax Rate Reconciliation, Percent | 0% | |
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount | $ 215,000 | |
Effective Income Tax Rate Reconciliation, Tax Expense (Benefit), Share-Based Payment Arrangement, Percent | 80% |
Commitments and Contingencies (
Commitments and Contingencies (Details Narrative) - USD ($) | 1 Months Ended | 12 Months Ended | ||||||||||||||||
Jul. 28, 2023 | Feb. 17, 2023 | May 30, 2021 | Sep. 26, 2014 | May 31, 2022 | Mar. 31, 2022 | Nov. 30, 2021 | Jul. 31, 2021 | Jun. 30, 2021 | Apr. 30, 2021 | Dec. 31, 2023 | Dec. 31, 2022 | Feb. 17, 2021 | Jan. 26, 2021 | Aug. 21, 2018 | Dec. 16, 2016 | Dec. 31, 2014 | Mar. 31, 2014 | |
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items] | ||||||||||||||||||
Other accrued liabilities, current | $ 308,286 | $ 463,743 | ||||||||||||||||
Accrued franchise taxes | 17,400 | |||||||||||||||||
Employee Stock Ownership Plan [Member] | ||||||||||||||||||
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items] | ||||||||||||||||||
Other accrued liabilities, current | $ 578,775 | $ 429,750 | ||||||||||||||||
Mississippi Property [Member] | ||||||||||||||||||
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items] | ||||||||||||||||||
Debt instrument face amount | $ 80,000 | |||||||||||||||||
Issuance of shares | 160,000 | |||||||||||||||||
Diamond Head Property [Member] | Second Lien [Member] | ||||||||||||||||||
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items] | ||||||||||||||||||
Debt instrument face amount | $ 137,500 | |||||||||||||||||
Amount owed | $ 250,000 | |||||||||||||||||
Diamond Head Property [Member] | Third Lien [Member] | ||||||||||||||||||
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items] | ||||||||||||||||||
Amount owed | $ 400,000 | |||||||||||||||||
Diamond Head Property [Member] | Fourth Lien [Member] | ||||||||||||||||||
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items] | ||||||||||||||||||
Debt instrument face amount | $ 2,000,000 | |||||||||||||||||
Property to secure non interest notes | $ 2,000,000 | |||||||||||||||||
Diamond Head Property [Member] | Fifth Lien [Member] | ||||||||||||||||||
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items] | ||||||||||||||||||
Debt instrument face amount | $ 658,750 | |||||||||||||||||
Property to secure non interest notes | $ 658,750 | |||||||||||||||||
Diamond Head Property [Member] | Six Lien [Member] | Lender [Member] | ||||||||||||||||||
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items] | ||||||||||||||||||
Debt instrument face amount | $ 252,500 | |||||||||||||||||
Issuance of shares | 250,000 | |||||||||||||||||
Diamond Head Property [Member] | Twelfth and Thirteenth Lien [Member] | ||||||||||||||||||
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items] | ||||||||||||||||||
Debt instrument face amount | $ 50,000 | |||||||||||||||||
Issuance of shares | 100,000 | |||||||||||||||||
Diamond Head Property [Member] | Sixteenth Lien [Member] | ||||||||||||||||||
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items] | ||||||||||||||||||
Debt instrument face amount | $ 50,000 | |||||||||||||||||
Issuance of shares | 100,000 | |||||||||||||||||
Diamond Head Property [Member] | Seventeenth Lien [Member] | ||||||||||||||||||
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items] | ||||||||||||||||||
Debt instrument face amount | $ 25,000 | |||||||||||||||||
Issuance of shares | 50,000 | |||||||||||||||||
Diamond Head Property [Member] | Eighteenth Lien [Member] | ||||||||||||||||||
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items] | ||||||||||||||||||
Debt instrument face amount | $ 50,000 | |||||||||||||||||
Issuance of shares | 100,000 | |||||||||||||||||
Diamond Head Property [Member] | Nineteenth and Twentieth Lien [Member] | ||||||||||||||||||
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items] | ||||||||||||||||||
Debt instrument face amount | $ 80,000 | |||||||||||||||||
Issuance of shares | 160,000 | |||||||||||||||||
Diamond Head Property [Member] | Twenty-first Lien [Member] | ||||||||||||||||||
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items] | ||||||||||||||||||
Debt instrument face amount | $ 50,000 | |||||||||||||||||
Issuance of shares | 100,000 | |||||||||||||||||
Board of Directors Chairman [Member] | ||||||||||||||||||
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items] | ||||||||||||||||||
Debt instrument face amount | $ 75,000 | $ 25,000 | $ 50,000 | |||||||||||||||
Issuance of shares | 150,000 | 50,000 | 100,000 | |||||||||||||||
Board of Directors Chairman [Member] | Diamond Head Property [Member] | Fourteenth Lien [Member] | ||||||||||||||||||
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items] | ||||||||||||||||||
Notes payable | $ 150,000 | |||||||||||||||||
Board of Directors Chairman [Member] | Diamond Head Property [Member] | Fifteenth Lien [Member] | ||||||||||||||||||
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items] | ||||||||||||||||||
Notes payable | $ 100,000 | |||||||||||||||||
Casinos Austria Maritime Corporation [Member] | ||||||||||||||||||
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items] | ||||||||||||||||||
Other commitments description | Unless terminated earlier pursuant to the provisions of the Agreement, the Agreement terminates five years from the first day of actual Mississippi gaming operations and provides for the payment of an annual operational term management fee of 1.2% of all gross gaming revenues between zero and $100,000,000; plus 0.75% of gross gaming revenue between $100,000,000 and $140,000,000; plus 0.5% of gross gaming revenue above $140,000,000; plus two percent of the net gaming revenue between zero and $25,000,000; plus three percent of the net gaming revenue above twenty-five million dollars $25,000,000. The Company believes this Agreement is no longer in effect. However, there can be no assurance that CAMC will not attempt to maintain otherwise which would lead to litigation | |||||||||||||||||
Collateralized Convertible Senior Debentures [Member] | Investors Lien [Member] | Mississippi Property [Member] | ||||||||||||||||||
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items] | ||||||||||||||||||
Secure principal and interest amount due | $ 1,850,000 | |||||||||||||||||
Collateralized Convertible Senior Debentures [Member] | Executives Lien [Member] | Mississippi Property [Member] | ||||||||||||||||||
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items] | ||||||||||||||||||
Amount owed | $ 2,000,000 | |||||||||||||||||
Collateralized Convertible Senior Debentures [Member] | Tranche 1 [Member] | Investors Lien [Member] | ||||||||||||||||||
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items] | ||||||||||||||||||
Debt instrument face amount | $ 850,000 | $ 1,000,000 |
Pending and Threatened Litiga_2
Pending and Threatened Litigation (Details Narrative) - USD ($) | 12 Months Ended | 27 Months Ended | 60 Months Ended | |||||
Oct. 20, 2023 | Oct. 17, 2023 | Mar. 31, 2023 | Mar. 31, 2023 | Mar. 31, 2022 | Dec. 31, 2019 | Dec. 31, 2023 | Dec. 31, 2022 | |
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||||||||
Principal due | $ 1,000,000 | $ 1,500,000 | $ 1,500,000 | |||||
Litigation Settlement, Amount Awarded to Other Party | $ 845,378 | |||||||
Remaining balance of debt | $ 155,000 | |||||||
Settlement Ageemet [Member] | ||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | ||||||||
Principal due | $ 1,500,000 | |||||||
Interest rate | 8% | 6% | 4% | |||||
Legal costs and fees | $ 175,000 | |||||||
Number of shares issued as legal fees | 50,000 | |||||||
Accrued legal fees | $ 195,000 | $ 195,000 | ||||||
Accrued liabilities for stock | 16,500 | 16,500 | ||||||
Accrued additional interest | $ 112,500 | $ 112,500 |