Document and Entity Information
Document and Entity Information | 12 Months Ended |
Dec. 31, 2020USD ($)shares | |
Cover [Abstract] | |
Entity Registrant Name | FOMO CORP. |
Entity Central Index Key | 0000867028 |
Document Type | 10-K/A |
Document Period End Date | Dec. 31, 2020 |
Amendment Flag | true |
Amendment Description | The sole purpose of this Amendment No. 1 to the Annual Report on Form 10-K for the period ended December 31, 2020 of FOMO CORP. (the "Company") filed with the Securities and Exchange Commission on April 06, 2021 (the "Form 10-K") is to furnish Exhibits 101 in accordance with Rule 405 of Regulation S-T and corrected the clerical errors in the Form 10-K. |
Current Fiscal Year End Date | --12-31 |
Entity Well-Known Seasoned Issuer | No |
Entity Voluntary Filers | No |
Entity Current Reporting Status | Yes |
Entity Interactive Data Current | Yes |
Entity Filer Category | Non-accelerated Filer |
Entity Small Business Flag | true |
Entity Emerging Growth Company | false |
Entity Shell Company | false |
Entity Public Float | $ | $ 5,988,248 |
Entity Common Stock, Shares Outstanding | shares | 4,713,543,121 |
Document Fiscal Period Focus | FY |
Document Fiscal Year Focus | 2020 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Dec. 31, 2020 | Dec. 31, 2019 |
Current assets | ||
Cash | $ 12,069 | $ 63 |
Accounts receivable | 20,859 | |
Prepaid expense | 910 | |
Total current assets | 33,838 | 63 |
Other assets: | ||
Investments | 168,000 | 189,000 |
Intangible assets | 206,250 | |
Goodwill | 596,906 | |
Total other assets | 971,156 | 189,000 |
Total assets | 1,004,994 | 189,063 |
Current liabilities | ||
Accounts payable | 63,291 | 5,500 |
Tax payable | ||
Accrued expenses | 62,510 | |
Accrued interest on loans payable | 24,945 | |
Customer deposit | 5,614 | 21,947 |
Loan payable related party | 3,574 | |
Loans payable due to non-related parties, net | 226,186 | 187,798 |
PPP loan | 11,593 | |
Loan settlement | 260,000 | |
Derivative liability | 834,230 | 893,171 |
Total current liabilities | 1,169,433 | 1,430,926 |
Total liabilities | 1,169,433 | 1,430,926 |
Stockholders' deficit | ||
Common stock; no par value authorized: 10,000,000,000 shares at December 31, 2020 and 2018, respectively: issued and outstanding 4,713,543,121 and 1,777,195,805 at December 31, 2020 and 2019, respectively | 4,232,960 | 3,800,405 |
Additional paid-in-capital | 3,139,400 | 858,218 |
Accumulated deficit | (7,662,645) | (6,025,926) |
Common stock issuable | 125,000 | 125,000 |
Total stockholders' deficit | (164,439) | (1,241,863) |
Total liabilities and stockholders' deficit | 1,004,994 | 189,063 |
Preferred Class A [Member] | ||
Stockholders' deficit | ||
Preferred stock, value | 300 | 300 |
Preferred Class B [Member] | ||
Stockholders' deficit | ||
Preferred stock, value | 446 | 40 |
Preferred Class C [Member] | ||
Stockholders' deficit | ||
Preferred stock, value | $ 100 | $ 100 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - $ / shares | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Common stock, no par value | ||
Common stock, shares authorized | 10,000,000,000 | 10,000,000,000 |
Common stock, shares issued | 4,713,543,121 | 1,777,195,805 |
Common stock, shares outstanding | 4,713,543,121 | 1,777,195,805 |
Preferred stock, shares authorized | 100,000,000 | |
Preferred Class A [Member] | ||
Preferred stock, par value | $ 0.0001 | $ 0.0001 |
Preferred stock, shares authorized | 78,000,000 | 78,000,000 |
Preferred stock, shares issued | 3,000,000 | 3,000,000 |
Preferred stock, shares outstanding | 3,000,000 | 3,000,000 |
Preferred stock, dividend percent | 1.00% | 1.00% |
Preferred Class B [Member] | ||
Preferred stock, par value | $ 0.0001 | $ 0.0001 |
Preferred stock, shares authorized | 20,000,000 | 20,000,000 |
Preferred stock, shares issued | 4,463,815 | 400,000 |
Preferred stock, shares outstanding | 4,463,815 | 400,000 |
Preferred stock, dividend percent | 1.00% | 1.00% |
Preferred Class C [Member] | ||
Preferred stock, par value | $ 0.0001 | $ 0.0001 |
Preferred stock, shares authorized | 2,000,000 | 2,000,000 |
Preferred stock, shares issued | 1,000,000 | 1,000,000 |
Preferred stock, shares outstanding | 1,000,000 | 1,000,000 |
Preferred stock, dividend percent | 1.00% | 1.00% |
Consolidated Statement of Opera
Consolidated Statement of Operations - USD ($) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Income Statement [Abstract] | ||
Operating revenue | $ 92,114 | |
Cost of revenue | 88,354 | |
Gross profit | 3,760 | |
Operating expenses: | ||
General and administrative | 1,602,046 | 212,708 |
Loss from operations | (1,598,286) | (212,708) |
Other income (expenses) | ||
Interest expense | (165,821) | (18,032) |
Amortization of discount | (100,299) | |
Loss on investment | (21,000) | (247,220) |
Debt settlement gain (loss) | 89,447 | 582,600 |
Derivative liability gain (loss) | 58,941 | (69,576) |
Total other income (expenses) | (38,433) | 147,473 |
Loss before income taxes | (1,636,719) | (65,235) |
Provision for income taxes | ||
Net loss | $ (1,636,719) | $ (65,235) |
Net loss per share, basic and diluted | $ 0 | $ 0 |
Weighted average common equivalent share outstanding, basic and diluted | 2,506,371,138 | 1,127,890,040 |
Consolidated Statement of Stock
Consolidated Statement of Stockholders' Deficit - USD ($) | Common Stock [Member] | Common Stock Issuable [Member] | Additional Paid-in Capital [Member] | Accumulated Deficit [Member] | Preferred Stock Class A [Member] | Preferred Stock Class B [Member] | Preferred Stock Class C [Member] | Total |
Beginning balance at Dec. 31, 2018 | $ 3,405,360 | $ 125,000 | $ 536,356 | $ (5,960,691) | $ 45,000 | $ (1,848,975) | ||
Beginning balance, shares at Dec. 31, 2018 | 623,964,144 | 3,000,000 | ||||||
Conversion of convertible debt | $ 395,045 | (163,601) | 231,444 | |||||
Conversion of convertible debt, shares | 1,153,231,661 | |||||||
Preferred Stock no par returned | $ (45,000) | (45,000) | ||||||
Preferred Stock no par returned, shares | (3,000,000) | |||||||
Preferred CL A Stock issued for investment | 44,700 | $ 300 | 45,000 | |||||
Preferred CL A Stock issued for investment, shares | 3,000,000 | |||||||
Preferred CL B Stock issued for investment | 423,960 | $ 40 | 424,000 | |||||
Preferred CL B Stock issued for investment, shares | 400,000 | |||||||
Preferred CL C Stock issued for investment | $ 100 | 100 | ||||||
Preferred CL C Stock issued for investment, shares | 1,000,000 | |||||||
Warrants issued for services | 16,803 | 16,803 | ||||||
Net Loss | (65,235) | (65,235) | ||||||
Ending balance at Dec. 31, 2019 | $ 3,800,405 | 125,000 | 858,218 | (6,025,926) | $ 300 | $ 40 | $ 100 | (1,241,863) |
Ending balance, shares at Dec. 31, 2019 | 1,777,195,805 | 3,000,000 | 400,000 | 1,000,000 | ||||
Conversion of convertible debt | $ 432,555 | 213,901 | 646,456 | |||||
Conversion of convertible debt, shares | 2,936,347,316 | |||||||
Preferred CL B Stock issued for services | 355,331 | $ 196 | 355,527 | |||||
Preferred CL B Stock issued for services, shares | 1,963,815 | |||||||
Warrants issued for services | 862,160 | 862,160 | ||||||
Preferred CL B Stock issued for acquisition of Purge Virus LLC | 799,800 | $ 200 | 800,000 | |||||
Preferred CL B Stock issued for acquisition of Purge Virus LLC, shares | 2,000,000 | |||||||
Preferred CL B Stock issued for PPE Source International, Inc. | 49,990 | $ 10 | 50,000 | |||||
Preferred CL B Stock issued for PPE Source International, Inc, shares | 100,000 | |||||||
Net Loss | (1,636,719) | (1,636,719) | ||||||
Ending balance at Dec. 31, 2020 | $ 4,232,960 | $ 125,000 | $ 3,139,400 | $ (7,662,645) | $ 300 | $ 446 | $ 100 | $ (164,439) |
Ending balance, shares at Dec. 31, 2020 | 4,713,543,121 | 3,000,000 | 4,463,815 | 1,000,000 |
Consolidated Statement of Cash
Consolidated Statement of Cash Flows - USD ($) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Cash flows provided by (used for) operating activities: | ||
Net loss | $ (1,636,719) | $ (65,235) |
Adjustments to resoncile net loss to net cash provided by (used for) operating activities: | ||
Amortization of debt discount | 244,085 | |
Issuance of prefeerred stock and warrants for services | 1,495,911 | (100) |
Impairment loss | 21,000 | 247,220 |
Loss (gain) on debt settlement | (89,447) | (582,600) |
Derivative liability adjustment | (58,941) | 637,931 |
Increase (decrease) in assets and liabilities: | ||
Deposits | 21,946 | |
Accounts payable | 56,845 | (580,338) |
Income tax payable | (2,864) | |
Accrued expenses | 21,210 | |
Accrued officers Salary | (61,565) | |
Accrued interest on loans payable | (49,740) | |
Net cash used for operating activities | (135,612) | (130,431) |
Cash flows provided by (used for) Financing activities | ||
Proceeds from related party loan | 3,574 | |
Proceeds from PPP loan | 11,593 | |
Proceeds from non-related loans | 115,000 | 113,690 |
Proceeds of cash from subsidiary | 17,451 | |
Net cash provied by (used for) financing activities | 147,618 | 113,690 |
Net (decrease) increase in cash | 12,006 | (16,741) |
Cash, beginning of period | 63 | 1 |
Cash, end of period | 12,069 | 63 |
Supplemental disclosure of cash flow information | ||
Common stock issued for debt | 761,456 | 249,484 |
Debt discount from convertible loan |
Basis of Presentation and Organ
Basis of Presentation and Organization | 12 Months Ended |
Dec. 31, 2020 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of Presentation and Organization | Note 1 – BASIS OF PRESENTATION AND ORGANIZATION FOMO CORP. previously known as “2050 Motors, Inc.” (“the Company”) is the successor to an entity incorporated on April 22, 1986 in the state of California. 2050 Motors, Inc. the Company’s sole operating subsidiary from 2014-2019, was incorporated on October 9, 2012 in the state of Nevada to import, market, and sell electric cars manufactured in China. In 2019, management dissolved the Company’s Nevada subsidiary as the electric vehicle (“EV”) strategies had failed. Meanwhile, the Company incubated an internet business targeting the Cannabis market www.kanab.club Corporate Actions and Related On March 6, 2019, William Fowler resigned as our President, Chief Executive Officer, Chief Financial Officer and Director. His resignation was not due to any matter relating to our operations, policies, or practices. On March 6, 2019, pursuant to a Special Board of Directors Meeting, our Board of Directors accepted his resignation. On March 6, 2019, Bernd Schaefers resigned as our Secretary and Director. His resignation was not due to any matter relating to our operations, policies, or practices. On March 6, 2019, pursuant to a Special Board of Directors Meeting, our Board of Directors accepted his resignation. On March 6, 2019, Vikram Grover was appointed our President, Chief Executive Officer, Chief Financial Officer, Secretary and Director. Mr. Grover’s compensation consists of $12,500 per month, of which $5,000 is payable in cash while the Company is delinquent in its SEC filings and the balance to be accrued and payable in cash or stock on December 31 of each calendar year. Upon bringing the Company current with its SEC filings, Mr. Grover will be compensated $12,500 per month, of which $7,500 is payable in cash and $5,000 will be accrued and payable in cash or stock on December 31 of each calendar year. Additionally, upon bringing the Company current with its SEC filings, Mr. Grover was to be issued 100 million common stock purchase warrants with a $0.001 exercise price and a three-year expiration. If the Company’s common stock closed over $0.01 for 10 consecutive trading sessions, Mr. Grover was to be issued an additional 100 million common stock purchase warrants with a $0.001 strike price and a three-year expiration. Subsequently, Mr. Grover waived his rights to these options. On April 4, 2019, we removed all Officers and/or Directors of our wholly owned subsidiary, 2050 Motors, Inc., a Nevada corporation (“2050 Private”); thereafter, 2050 Private appointed our Chief Executive Officer, Vikram Grover, as 2050 Private’s President and Sole Director. On May 14, 2019, we dissolved our 2050 Motors, Inc. Nevada subsidiary and terminated all discussions and contractual relationships with Chinese manufacturers. On December 16, 2019, we changed our company name to “FOMO CORP.” with the Secretary of State of California on the SEC’s EDGAR system. On November 17, 2020, we applied for a name change with FINRA and have responded to comments several times. On October 19, 2020, FOMO CORP purchased Purge Virus, LLC and consequently entered the viral disinfection market. On November 17, 2020, an application was submitted to FINRA to change the name and ticker symbol from 2050 Motors and ETFM to FOMO CORP. and FOMO, respectively. Subsequently, FINRA stated that the “FOMO” ticker symbol was no longer available, and a new ticker symbol was requested. As of December 30, 2020, the Company was current with its financials. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2020 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | Note 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying financial statements were prepared in conformity with generally accepted accounting principles in the United States of America (“US GAAP”). Use of Estimates The preparation of financial statements in conformity with US GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates include accounts payable, the recoverability of long-term assets, and the valuation of derivative liabilities. Consolidation The consolidated financial statements of the Company include the Company and its wholly owned subsidiaries, 2050 Motors, Inc. and Purge Virus, LLC. All material intercompany balances and transactions have been eliminated in consolidation. Cash Cash consists of deposits in one large national bank. On December 31, 2020 and December 31, 2019, respectively, the Company had $12,069 and $63 in cash in the United States. The Company has not experienced any losses in such accounts and believes it is not exposed to any risks on its cash in bank accounts. Fair Value of Financial Instruments For certain of the Company’s financial instruments, including cash accounts payable, accrued liabilities, short-term debt, and derivative liability, the carrying amounts approximate their fair values due to their short maturities. We adopted ASC Topic 820, “Fair Value Measurements and Disclosures,”, which requires disclosure of the fair value of financial instruments held by the Company. ASC Topic 825, “Financial Instruments,” defines fair value, and establishes a three-level valuation hierarchy for disclosures of fair value measurement that enhances disclosure requirements for fair value measures. The carrying amounts reported in the balance sheets for receivables and current liabilities each qualify as financial instruments and are a reasonable estimate of their fair values because of the short period of time between the origination of such instruments and their expected realization and their current market rate of interest. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1 measurement) and the lowest priority to unobservable inputs (level 3 measurements). The three levels of valuation hierarchy are defined as follows: Level 1 input to the valuation methodology are quoted prices for identical assets or liabilities in active markets. The Company’s investment in Mobicard Inc., see Note 4, is actively traded on the pink sheets. Level 2 inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. Level 3 inputs to the valuation methodology are unobservable in which little or no market data exists, therefore requiring an entity to develop its own assumptions, such as valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. The Company’s analyses of all financial instruments with features of both liabilities and equity under ASC 480, “Distinguishing Liabilities from Equity,” and ASC 815. We have recorded the conversion option on notes as a derivative liability because of the variable conversion price, which in accordance with U.S. GAAP, prevents them from being considered as indexed to our stock and qualified for an exception to derivative accounting. We recognize derivative instruments as either assets or liabilities on the accompanying balance sheets at fair value. We record changes in the fair value of the derivatives in the accompanying statement of operations. Assets and liabilities measured at fair value are as follows as of December 31, 2020: Total Level 1 Level 2 Level 4 Assets Investments 168,000 168,000 Total assets measured at fair value 168,000 168,000 Liabilities Derivative liability 834,230 834,230 Total liabilities measured at fair value 834,230 834,230 Assets and liabilities measured at fair value are as follows as of December 31, 2019: Total Level 1 Level 2 Level 4 Assets Investments 189,000 189,000 Total assets measured at fair value 189,000 189,000 Liabilities Derivative liability 893,171 893,171 Total liabilities measured at fair value 893,171 893,171 The following is a reconciliation of the derivative liability for which Level 3 inputs were used in determining the approximate fair value: Balance as of December 31, 2018 $ 876,058 Fair value of derivative liabilities 134,115 Loss on conversion 69,576 Gain on change in derivative liabilities (186,578 ) Balance as of December 31, 2019 $ 893,171 Balance as of December 31, 2019 $ 893,171 Fair value of derivative liabilities 266,068 Loss on conversion (483,793 ) Gain on change in derivative liabilities 158,784 Balance as of December 31, 2020 $ 834,230 Earnings Per Share (EPS) Basic EPS is computed by dividing income available to common shareholders by the weighted average number of common shares outstanding for the period. Diluted EPS is computed similar to basic net income per share except that the denominator is increased to include the number of additional common shares that would have been outstanding if all the potential common shares, warrants and stock options had been issued and if the additional common shares were dilutive. Diluted EPS assumes that all dilutive convertible shares and stock options were converted or exercised. Dilution is computed by applying the treasury stock method for the outstanding options and the if-converted method for the outstanding convertible preferred shares. Under the treasury stock method, options and warrants are assumed to be exercised at the beginning of the period (or at the time of issuance, if later), and as if funds obtained thereby were used to purchase common stock at the average market price during the period. Under the if-converted method, convertible outstanding instruments are assumed to be converted into common stock at the beginning of the period (or at the time of issuance, if later). During the year ended December 31, 2020 and 2019, the Company generated no revenues and incurred substantial losses, of which the vast majority were due to mostly non-cash charges for accrued interest, penalties and derivative charges related to convertible debt instruments. Therefore, the effect of any common stock equivalents on EPS is anti-dilutive during those periods. Concentration of Credit Risk Cash is mainly maintained by one highly qualified institution in the United States. At no time were such amounts more than federally insured limits. Management does not believe that the Company is subject to any unusual financial risk beyond the normal risk associated with commercial banking relationships. The Company has not experienced any losses on our deposits of cash. Income Taxes The Company utilizes FASB Accounting Standards Codification (ASC) Topic 740, Income Taxes, which requires recognition of deferred tax assets and liabilities for the expected future tax consequences of events that were included in the financial statements or tax returns. Under this method, deferred income taxes are recognized for the tax consequences in future years of differences between the tax bases of assets and liabilities and their financial reporting amounts at each period end based on enacted tax laws and statutory tax rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized. ASC 740 provides accounting and disclosure guidance about positions taken by an organization in its tax returns that might be uncertain. When tax returns are filed, it is likely that some positions taken would be sustained upon examination by the taxing authorities, while others are subject to uncertainty about the merits of the position taken or the amount of the position that would be ultimately sustained. The benefit of a tax position is recognized in the financial statements in the period during which, based on all available evidence, management believes it is more likely than not that the position will be sustained upon examination, including the resolution of appeals or litigation processes, if any. Tax positions taken are not offset or aggregated with other positions. Tax positions that meet the more-likely-than-not recognition threshold are measured as the largest amount of tax benefit that is more than 50 percent likely of being realized upon settlement with the applicable taxing authority. The portion of the benefits associated with tax positions taken that exceeds the amount measured as described above is reflected as a liability for unrecognized tax benefits in the accompanying balance sheets along with any associated interest and penalties that would be payable to the taxing authorities upon examination. Interest associated with unrecognized tax benefits is classified as interest expense and penalties are classified in selling, general and administrative expenses in the statements of income. On December 31, 2020 and December 31, 2019, the Company had not taken any significant uncertain tax positions on its tax returns for the period ended December 31, 2019 and prior years or in computing its tax provisions for any years. Prior management considered its tax positions, and believed that all of the positions taken by the Company in its Federal and State tax returns were more likely than not to be sustained upon examination. The Company is subject to examination by U.S. Federal and State tax authorities from inception to present, generally for three years after they are filed. New management, which took control of the Company on March 5, 2019, is currently evaluating prior management’s decision to not file federal tax returns and plans on filing past returns and related 10-99 filings for compensation paid to prior management, employees, consultants, contractors and affiliates. The Company does not believe it has a material tax liability due to its operating losses in these periods but is preparing tax filings to bring itself current as it completes and moves forward on announced mergers and acquisitions. Concentration of Credit Risk Cash is mainly maintained by one highly qualified institution in the United States. At various times, such amounts are more than federally insured limits. Management does not believe that the Company is subject to any unusual financial risk beyond the normal risk associated with commercial banking relationships. The Company has not experienced any losses on our deposits of cash. Risks and Uncertainties The Company is subject to risks from, among other things, competition associated with the industry in general, other risks associated with financing, liquidity requirements, rapidly changing customer requirements, limited operating history and the volatility of public markets. Accounts Receivable Accounts receivable are stated at the amount management expects to collect from outstanding balances. The Company provides for probable uncollectible amounts based upon its assessment of the current status of the individual receivables and after using reasonable collection efforts. The allowance for doubtful accounts as of December 31, 2020 and 2019 was zero. Revenue Recognition The Company recognizes revenues in accordance with Accounting Standards Codification (“ ASC” Stock-Based Compensation The Company accounts for all stock-based compensation using a fair value-based method. The fair value of equity-classified awards granted to employees is estimated on the date of the grant using the Black-Scholes option-pricing model and the related stock-based compensation expense is recognized over the vesting period during which an employee is required to provide service in exchange for the award. Goodwill and Other Acquired Intangible Assets The Company initially records goodwill and other intangible assets at their estimated fair values and reviews these assets periodically for impairment. Goodwill represents the excess of the purchase price over the fair value of identifiable tangible and intangible assets acquired and liabilities assumed in a business combination and is tested at least annually for impairment, historically during our fourth quarter. Recently Issued Accounting Pronouncements In February 2016, FASB issued ASU No. 2016-02, Leases (Topic 842) (“ASU 2016-02”). ASU 2016-02 requires an entity to recognize right-of-use assets and lease liabilities on its balance sheet and disclose key information about leasing arrangements. For public companies, ASU 2016-02 is effective for annual reporting periods beginning after December 15, 2018, including interim periods within that reporting period, and requires a modified retrospective adoption, with early adoption permitted. We are evaluating the impact this guidance will have on our financial position and statement of operations. |
Going Concern
Going Concern | 12 Months Ended |
Dec. 31, 2020 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Going Concern | Note 3 – GOING CONCERN The accompanying financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America, which contemplate the continuation of the Company as a going concern. The Company reported an accumulated deficit of ($7,662,645) as of December 31, 2020. The Company also had negative working capital of ($1,135,595) on December 31, 2020, and had operating losses of ($1,598,286) and ($65,235) for the years ended December 31, 2020 and 2019, respectively. To date, these losses and deficiencies have been financed principally through the issuance of common stock, loans from related parties and from third parties. In view of the matters described, there is substantial doubt as to the Company’s ability to continue as a going concern without a significant infusion of capital. We anticipate that we will have to raise additional capital to fund operations over the next 12 months. To the extent that we are required to raise additional funds to acquire properties, and to cover costs of operations, we intend to do so through additional offerings of debt or equity securities. There are no commitments or arrangements for other offerings in place, no guaranties that any such financings would be forthcoming, or as to the terms of any such financings. Any future financing may involve substantial dilution to existing investors. |
Investments
Investments | 12 Months Ended |
Dec. 31, 2020 | |
Investments, Debt and Equity Securities [Abstract] | |
Investments | Note 4 - INVESTMENTS During the year ended December 31, 2019, the Company issued 400,000 share of preferred class B stock in exchange for 210,000,000 shares of Mobicard Inc. The shares were valued at the market price of $0.0023 per share, or $483,000, at the acquisition date. The shares are currently valued at the market price of $0.0008 per share on December 31, 2020 for a total investment of $168,000. During the year ended December 31, 2019, the Company received 1,000,000 shares of KANAB CORP. for consulting services provided by the Company’s CEO, Vikram Grover. The shares were valued at $0.0001 per share. On October 19, 2020, the Company acquired 100% of the member interests of Purge Virus, LLC for consideration of 2,000,000 Series B Preferred Shares, valued at their market value of $800,000. As a result of the acquisition, the Company recognized intangible assets of $225,000 and Goodwill of $596,906. The intangible assets are being amortized over their useful lives, ranging from 3 to 10 years. |
Loans Payable Due to Related Pa
Loans Payable Due to Related Parties | 12 Months Ended |
Dec. 31, 2020 | |
Debt Disclosure [Abstract] | |
Loans Payable Due to Related Parties | Note 5 – LOANS PAYABLE DUE TO RELATED PARTIES As of December 31, 2020, the Company subsidiary’s chief executive officer had an outstanding balance of $3,574. The loan is non-interest bearing and due on demand. |
Convertible Note Payables
Convertible Note Payables | 12 Months Ended |
Dec. 31, 2020 | |
Debt Disclosure [Abstract] | |
Convertible Note Payables | Note 6 - CONVERTIBLE NOTE PAYABLES The Company had convertible note payables with three third parties with stated interest rates ranging between 10% and 12% and 22% default interest not including penalties. These notes have a conversion feature such that the Company could not ensure it would have adequate authorized shares to meet all possible conversion demands; accordingly, the conversion option has been treated as a derivative liability in the accompanying interim financial statements. As of December 31, 2020, the Company had the following third-party convertible notes outstanding: Lender Origination Maturity Amount Interest Note Auctus 10/28/20 10/28/21 115,000 10.0 % Note #8* Power Up 10 03/08/19 01/15/20 9,000 10.0 % Note #10* Tri-Bridge 3/15/19 9/15/19 2,286 10.0 % Note #11* PowerUp 11 7/9/19 4/30/20 35,000 12.0 % Note #12* GS Capital 9/6/19 9/6/20 28,900 12.0 % Note #13* GS Capital 11/21/19 11/21/20 18,000 12.0 % Note #14* PowerUp 11/21/19 11/21/20 18,000 12.0 % Total $ 226,186 less discount 0 Net $ 226,186 *Note is currently in default. As of March 31, 2021, all of the above notes have been retired and there are no loans in default at March 31, 2021. During the year ended December 31, 2019, third-party lenders converted $231,444 of principal and interest into 1,153,211,664 shares of common stock. During the year ended December 31, 2020, third-party lenders converted $809,292 of principal and interest into 2,936,347,316 shares of common stock. The variables used for the Black-Scholes model are as listed below: December 31, 2020 December 31, 2019 ● Volatility: 253% - 466% Volatility: 191% - 455% ● Risk free rate of return: 1.24%- 1.53% Risk free rate of return: 1.93% - 1.99% ● Expected term: 1-3 years Expected term: 1-3 years The Company amortized a debt discount of $63,350 and $100,299 respectively, during the years ended December 31, 2020 and 2019, respectively. On March 8, 2019, a third-party loaned the Company $28,000.00 in a 12% debenture that matures on January 15, 2020. The transaction netted the Company $25,000.00 after legal fees and due diligence expenses. On May 13, 2019, the Company borrowed $12,500.00 pursuant to a convertible note agreement bearing an interest rate of 12% per annum and with a maturity date of September 15, 2019. On July 9, 2019, a third-party lender funded the Company $35,000.00 in the form of a 12% convertible debenture that matures April 30, 2020. The transaction netted the Company $32,000.00 after legal fees and due diligence expenses. On September 6, 2019, a third-party lender funded the Company $35,000.00 in the form of a 12% convertible debenture that matures September 6, 2020. The transaction netted the Company $30,500.00 after legal fees and due diligence expenses On November 12, 2019, a third-party lender funded the Company $18,000.00 in a 10% convertible debenture due November 12, 2020. The transaction netted the Company $15,500.00 after original issue discount (OID) of $2,500.00. On November 14, 2019, a third-party lender funded the Company $18,000.00 in a 10% convertible debenture due November 14, 2020. The transaction netted the Company $12,500.00 after original issue discount (OID) of $3,000.00 and legal fees of $2,500.00. On October 28, 2020, a third-party lender funded the Company $115,000.00 in a 12% convertible debenture due October 28, 2021. The transaction netted the Company $98,000.00 after original issue discount (OID) of $15,000.00 and placement agent fees of $2,000.00. |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2020 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Note 7 – COMMITMENTS AND CONTINGENCIES Aoxin License Agreement During the year ended December 31, 2019, based on failure to perform including a lack of a license to manufacture and export electric vehicles under our agreement with them, we terminated all discussions and agreements with Aoxin Motors. Legal Proceedings The Company may from time to time, become a party to various legal proceedings, arising in the ordinary course of business. The Company investigates these claims as they arise. A third-party lender, Auctus Fund, LLC, served the Company notice of a civil lawsuit on November 1, 2019 seeking principal, interest and penalties of $283,000.00 related to a loan provided to the Company on or around January 6, 2017. On November 25, 2019, the Company reached a Settlement Agreement and Mutual General Release with Auctus Fund, LLC. As part of the agreement, the Company agreed that the settlement value of the note and accrued interest was $60,522.32 and the Company would issue the following shares to settle the note and accrued interest: ● On or before November 1, 2020- 264,680,377 Settlement Shares; plus ● On or before December 2, 2020 – 264,680,378 Settlement Shares; plus ● On or before January 1, 2021 – 264,680,378 Settlement Shares. The Company agreed to irrevocably authorize and reserve a sufficient amount of Settlement Shares of the Company’s common stock pursuant to the reserve requirements of the Note (with an initial amount of at least One Billion - Five Hundred Million (1,500,000,000) Shares of the publicly tradeable ETFM Common Stock for delivery and issuance to the Auctus Fund, LLC. For year-end 2019, the Company accrued a liability of $260,000, representing the fair value of the settlement shares at the date of the settlement agreement. The Settlement Agreement was subsequently amended in 2020 and all principal, interest and penalties were retired as of December 31, 2020. |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2020 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Note 8 – INCOME TAXES The Company did not file its federal tax returns for fiscal years from 2012 through 2020. Management at year-end 2020 believed that it should not have any material impact on the Company’s financials because the Company did not have any tax liabilities due to net loss incurred during these years. Based on the available information and other factors, management believes it is more likely than not that any potential net deferred tax assets on December 31, 2020 and December 31, 2019 will not be fully realizable. The Company is current with franchise tax board fees due to the State of California and intends to prepare tax statements for the federal and state requirements for 2019 and 2020. |
Warrants and Options
Warrants and Options | 12 Months Ended |
Dec. 31, 2020 | |
Warrants And Options | |
Warrants and Options | Note 9 – WARRANTS AND OPTIONS As of December 31, 2019, the Company has fifty million warrants with an exercise price of $0.001 and a three-year expiration issued and outstanding to three members of our Advisory Board who were added to that newly created committee during March - April 2019. Additionally, we issued ten million warrants with a strike price of $0.005 and a three-year expiration to EDGE FiberNet, Inc. as compensation for strategic consulting. During the year ended December 31, 2019, the Company recognized $16,803 in expense related to these warrants. During the year ended December 31, 2020, the Company issued warrants for services. During the year ended December 31, 2020 the Company issued 328,571,428 warrants to a third-party lender for fees on a loan default. The Company recognized $844,754 in expense related to these warrants. On December 31, 2020, a total of 713,571,428 warrants were outstanding with a weighted average life of 3.87 years and an intrinsic value of $844,754. |
Equity
Equity | 12 Months Ended |
Dec. 31, 2020 | |
Equity [Abstract] | |
Equity | Note 10 – EQUITY During the year ended December 31, 2019, the Company increased the authorized shares for common stock of the Company from three (3) billion to ten (10) billion and for preferred shares from ten (10) million to one hundred (100) million. Between January 1, 2019 and December 31, 2019, the Company issued to third-party lenders a total of 1,242,231,661 shares of common stock pursuant to conversions of $255,334 debt. On March 6, 2019, our Board of Directors approved, and we filed a Certificate of Determination for with the Secretary of State of California, a new class of Series C Preferred Shares with a total of one million such shares authorized. Each share converts into one common share, has 10,000 votes on every corporate matter requiring a shareholder vote, has a par value of $0.0001, and pays an annual dividend at the option of the Company of $0.01. Subsequent to the end of the three months ended March 30, 2019, the Company issued one million (1,000,000) Series C Preferred Shares to our CEO, Vikram Grover, as consideration for the change of control of the Company. Effective November 6, 2020, the Company increased the authorized Series C Preferred Shares to two (2) million from one (1) million and increased the voting rights of the Series C Preferred shares to 100,000 for every one (1) share from 10,000 for every one (1) share. On March 27, 2019, we issued a demand letter to BKS Cambria, LLC (“BKS”) and United Biorefineries, Inc. (“United”) to return 84,770,115 and 53,347,701 of our common stock shares in certificate form, respectively, that may have been invalidly issued by prior management to the corporate entities they controlled. BKS and United failed to respond to our demand letter by the demand date and we have not received the foregoing share amounts in certificate form from either BKS or United. UBC has electronically responded, denied any wrongdoing, and refuses to return the certificates. We are evaluating our legal remedies regarding these share issuances. On April 7, 2019, our Board of Directors approved the creation of a new class of Series B Preferred Shares. A total of six million such shares were authorized. Each share converts into 1,000 common shares, votes on an as converted basis, has a par value of $0.001, and pays a cumulative annual dividend in cash or in kind of $0.01. Effective November 6, 2020, the Company increased the authorized number of Series B Preferred Shares to twenty million from six million to facilitate mergers and acquisitions. On April 8, 2019, we amended the terms of our existing Series A Preferred stock by changing the par value from nil to $0.0001 and establishing a $0.01 per share annual dividend to be approved by our Board of Directors each year. At the time, each share was convertible into one common share and had 50 votes on corporate matters. As part of the management transition plan announced in March 2019, two million of the Series A Preferred Shares were transferred from former management to our current CEO, Vikram Grover. At the time, a total of three million Series A Preferred Shares were authorized, all of which were and are currently issued and outstanding. The financial statements were retroactively adjusted to give effect to this change in par value. On May 5, 2019, 2050 Motors, Inc. executed a Securities Purchase Agreement with our CEO, Vikram Grover, for an investment in the Company of $483,000 in the form of 210,000,000 free-trading common shares of Peer-to-Peer Network aka Mobicard Inc. The transaction closed on May 15, 2019. As consideration, the Company issued the investor 400,000 newly created 1% Cumulative Series B Preferred Shares, each of which bears a RESTRICTED CONTROL STOCK legend. On May 14, 2019, our Board of Directors approved the dissolution of our wholly owned subsidiary, 2050 Motors, Inc., a Nevada corporation doing business under the same name as our publicly traded company, 2050 Motors, Inc., a California corporation. Additionally, our Board of Directors approved the termination of all discussions and prior agreements with Aoxin Motors regarding the importation of electric vehicles to be made by Aoxin Motors in China into the United States. Our termination was driven by Aoxin Motors’ failure to obtain the necessary license(s) to manufacture e-GO electric vehicles, which have been under development since 2012. Accordingly, on May 14, 2019, we filed paperwork with the Secretary of State of Nevada to dissolve our wholly owned subsidiary, 2050 Motors, Inc., a Nevada corporation, and that dissolution went effective on or around May 17, 2019. On May 15, 2019, based on due diligence and research by management and the Company’s advisors, the Board of Directors of 2050 Motors, Inc., a California corporation, approved stop action orders on 162,846,149 common shares held by former management, employees, affiliates, and representatives of the Company. Accordingly, management has directed the Company’s transfer agent to prohibit the transfer or sale of any shares associated with their certificates. Pending investigation of the providence of these shares and proof of consideration for said shares, these shares will remain frozen indefinitely and subject to the Company’s powers of enforcement and the rules of law. On November 18, 2019, a third-party lender converted $2,170.00 of principal and $500.00 of fees into 89,000,000 shares of common stock. On December 6, 2019, a third-party lender converted $2,350.00 principal and $1,290.00 interest of a convertible debenture into 72,800,000 common shares. Between January 1, 2020 and December 31, 2020, the Company issued to third-party lenders a total of 2,936,347,316 shares of common stock pursuant to conversions of $761,456 debt. On January 8, 2020, a third-party lender converted $5,300.00 principal of a convertible debenture into 106,000,000 common shares. On February 3, 2020, a third-party lender converted $5,600.00 principal of a convertible debenture into 112,000,000 common shares. On February 5, 2020, a third-party lender converted $4,682.00 principal of a convertible debenture into 93,640,000 common shares. On February 18, 2020, a third-party lender converted $7,000.00 principal of a convertible debenture into 116,666,667 common shares. On August 26, 2020, the Company issued its CEO, Vikram Grover, 125,000 Series B Preferred Shares for accrued compensation of $25,000.00. On August 27, 2020, a third-party lender converted $6,100.00 principal and $947.93 interest of a convertible debenture into 128,144,181 restricted common shares. On August 31, 2020, a third-party lender converted $2,950.00 principal and $500.00 of fees of a convertible debenture into 115,000,000 common shares. On September 3, 2020, the Company issued its CEO, Vikram Grover, 1,370,065 Restricted Series B Preferred shares for accrued compensation of $137,065.00. On September 4, 2020, a third-party lender converted $57.96 principal, $2,811.59 intertest and $500.00 of fees of a convertible debenture into 112,318,333 common shares. From September 10, 2020 through October 8, 2020, a third-party lender converted $25,000.00 warrants attached to a 2017 loan into 611,005,229 common shares. As a result, the debenture and warrants were retired. On September 15, 2020, a third-party lender converted $5,069.54 principal and $1,689.85 interest of a convertible debenture into 135,187,800 common shares. On September 30, 2020, a third-party lender converted $20,229.66 principal and $6,743.22 interest of a convertible debenture into 179,819,200 common shares. On October 8, 2020, a third-party lender converted $21,239.12 principal and $7,079.71 interest of a convertible debenture into 188,792,200 common shares. On October 9, 2020, the Company issued its CEO, Vikram Grover, 93,750 Restricted Series B Preferred shares for accrued compensation of $37,500.00. On October 13, 2020, we amended the terms of our Series A Preferred Shares to include an annual dividend of $0.0035 per share, a 1-50 conversion ratio and to vote on an as converted basis. On October 20, 2020, a third-party lender converted $0 principal, $86.40 interest and $30,237.55 penalties related to a convertible debenture into 202,159,667 common shares. From January 1, 2020 through October 23, 2020, the Company issued 275,000 Restricted Series B Preferred shares to consultants for professional services, including due diligence on the Purge Virus transaction, corporate development, sales and marketing, and other. Effective October 25, 2020, the Company and a third party lender amended a prior settlement agreement effected in 2019 to require the issuance of seven hundred ninety four million, forty one thousand, one hundred thirty three (794,041,133) Settlement Shares of common stock, as follows: a) publicly tradeable shares of common stock (the “Settlement Shares” or the “Shares”) to be converted, transferred and delivered to the third party lender, in whole or in part pursuant to the third party lender’s notice: 1) on or before November 1, 2020 – 264,680,377 Settlement Shares, in whole or in part as determined by the third party lender, in its discretion; plus 2) on or before December 1, 2020 – 264,680,378 Settlement Shares, in whole or in part as determined by the third party lender, in its discretion; plus 3) on or before January 1, 2021 – 264,680,378 Settlement Shares, in whole or in part, as determined by the third party lender, in its discretion. Remaining shares, which were reserved and subsequently sold, settled the balance of the November 2019 $283,000.00 lawsuit brought by the third-party lender against the Company. The lender subsequently executed conversions of principal, interest, and penalties into 794,041,134 common shares, and the note and associated settlement are now retired/closed. On November 2, 2020, a third-party lender converted $10,944.39 principal, $93.60 interest and $20,799.13 penalties related to a convertible debenture into 212,247,469 common shares. On October 28, 2020, a third-party lender funded the Company $115,000.00 in a redeemable convertible note, netting $98,000.00 after an original issue discount (OID) of $10,000.00, legal fees of $5,000.00 in legal fees and $2,000.00 in broker fees. On December 2, 2020, a third-party lender converted $55,709.65 penalties related to a convertible debenture into 222,838,600 common shares. On December 30, 2020, a third-party lender converted $12,000.00 principal related to a convertible debenture into 25,000,000 common shares. On December 31, 2020, we issued a consultant 25,000 Series B Preferred shares for cannabis legal analysis. Business Development and Related On October 2, 2020, we issued John Kelly, owner of PPE Source International LLC (PPESI), a provider of PPE to small, medium, and large businesses, institutions, and government customers, 100,000 Series B Preferred Shares for a 180-day exclusive option to purchase his 100% member interests in PPESI. We are in negotiations to extend this purchase option. On October 19, 2020, we closed the acquisition of 100% of the member interests of Purge Virus, LLC from Charles Szoradi for consideration of two million (2,000,000) Series B Preferred Shares. The purchase maintains PV as a 100% owned subsidiary of FOMO CORP., includes cross-selling relationships with Mr. Szoradi’s 100% owned LED company Independence LED and 33% owned energy management software company Energy Intelligence Center (EIC), and JV partner Company PPE Source International LLC. On December 6, 2020, we appointed Paul Benis, a 30-year veteran of the industrial HVAC market, technology executive and owner of PVBG Inc, to the Advisory Board. As part of the appointment, we issued Benis ten (10) million common stock purchase warrants with a strike price of $0.001 and a three-year expiration. COVID-19 Pandemic Update In March 2020, the World Health Organization declared a global health pandemic related to the outbreak of a novel coronavirus. The COVID-19 pandemic adversely affected the company’s financial performance in the third and fourth quarters of fiscal year 2020 and could have an impact throughout fiscal year 2021. In response to the COVID-19 pandemic, government health officials have recommended and mandated precautions to mitigate the spread of the virus, including shelter-in-place orders, prohibitions on public gatherings and other similar measures. There is uncertainty around the duration and breadth of the COVID-19 pandemic, as well as the impact it will have on the company’s operations, supply chain and demand for its products. As a result, the ultimate impact on the company’s business, financial condition or operating results cannot be reasonably estimated at this time. On June 4, 2020, the Company entered a $11,593 note payable to Bank of America, pursuant to the Paycheck Protection Program (“PPP Loan”) under the CARES Act. The loan remains outstanding but is expected to be forgiven by the U.S. government based on guidance from the Company’s commercial bank, Bank of America. We have applied for forgiveness of the loan with the SBA through our commercial bank, Bank of America. Warrants On October 28, 2020, the Company issued 328,571,428 warrants to a third-party lender with a 5-year expiration and an exercise price of $0.0007 per share. On November 3, 2020, the Company issued 10,000,000 warrants to Dr. Wayman Baker, PhD with at a three-year expiration and an exercise price of $0.001 per share. On December 2, 2020, the Company reduced the exercise price on 10,000,000 warrants owned by Aldo Baiocchi, former Advisory Board member who has provided working capital to the Company, from $0.01 per share to $0.001 per share. On December 7, 2020, we issued Paul Benis, an Advisory Board member, 20,000,000 common stock purchase warrants with a three-year expiration and $0.001 exercise price, for services to be rendered during 2021. On December 31, 2020, we issued a consultant 25,000,000 warrants with a three-year expiration and a $0.001 exercise price for digital consultation and sales incentive. On December 31, 2020, as compensation for bring the Company SEC current and for retention purposes, we issued our CEO Vikram Grover 200,000,000 warrants with a three-year expiration and an exercise price of $0.001. On December 31, 2020, we issued Roderick Martin, CEO of AGILE Technologies Group, LLC, 20,000,000 common stock purchase warrants with a three-year expiration and $0.01 exercise price as compensation for joining our Advisory Board. On December 31, 2020, we issued AGILE Technologies Group, LLC, 100,000,000 common stock purchase warrants with a three-year expiration and $0.001 exercise price as a sales incentive for offering our disinfection products and others to AGILE’s rapid diagnostic testing (“RDT”) clients. The warrants shall vest upon the generation of $500,000 in cumulative disinfection sales from our subsidiary Purge Virus, LLC by December 31, 2021 or $1,000,000 in cumulative disinfection sales from our subsidiary Purge Virus, LLC by December 31, 2023. Both Companies have an exclusive cross-selling agreement for their products which has generated material revenues to date. |
Subsequent Events
Subsequent Events | 12 Months Ended |
Dec. 31, 2020 | |
Subsequent Events [Abstract] | |
Subsequent Events | Note 11 – SUBSEQUENT EVENTS On January 1, 2021, we issued a consultant 25,000 Series B Preferred shares as a sales incentive for introducing us to native tribes, professional sports players, major recording artists, and other. On January 4, 2021, a third-party lender converted $19,200.00 of principal and $0.00 interest related to a debenture into 40,000,000 common shares. On January 5, 2021, a third-party lender converted $10,800.00 of principal and $7,248.16 interest related to a debenture into 40,000,000 common shares. On January 6, 2021, we issued 175,000 Series B Preferred shares to two owners of SmartGuard UV for exclusive negotiations right to buy some or all units of the Company for a six-month period. On January 7, 2021, a third-party lender converted $20,000.00 of principal and $0.00 interest related to a debenture into 55,555,556 common shares. On January 11, 2021, a third-party lender converted $20,000.00 of principal and $0.00 interest related to a debenture into 55,555,556 common shares. On January 11, 2021, a third-party lender converted $28,900.00 of principal and $7,094.36 interest and $1,590.00 in fees related to a debenture into 97,621,714 common shares. On January 13, 2021, a third-party lender converted $21,059.18 of principal and $0.00 interest related to a debenture into 58,497,722 common shares. On January 14, 2021, a third-party lender converted $18,000.00 of principal and $4,166.14 interest and $800.00 in fees related to a debenture into 59,652,311 common shares. On January 20, 2021, a third-party lender funded a $205,000.00 debenture netting us $180,000.00 after OID and fees. We used a portion of the funds to retire a $115,000.00 third-party note funded to us on October 28, 2020. On January 21, 2021, a third-party lender converted $18,000.00 of principal and $11,478.58 interest related to a debenture into 58,497,722 common shares. On February 11, 2021, we issued 100,000 Series B Preferred shares to the owner of a nationwide HVAC services company as a down payment for potential acquisition of the business. On February 12, 2021, we acquired 100% of the assets of Independence LED Lighting, LLC (“ILED”) for 250,000 Series B shares to move into the smart lighting and grow lights sectors. On February 17, 2021, we issued Dr. Wayman Baker, an Advisory Board member, 20,000,000 common stock purchase warrants with a three-year expiration and $0.01 exercise price as compensation for services to be rendered in 2021. On February 26, 2021, we retained BRIO Financial Group for outsource CFO services. We have committed 100,000,000 common stock purchase warrants with a three-year expiration and $0.02 exercise price as part of the compensation package. We expect BRIO will improve our financial controls. On or around the same timeframe, we retained a strategic M&A consultant to integrate our closed and planned acquisitions and issued his firm 6,250,000 restricted common shares. Further, we engaged an investor relations consultant in part with 300,000 restricted common shares, to update our presentation deck. We believe these engaged companies and professionals will help our Company move to the next level in finance, operations, and the public markets. On February 27, 2021, the Company issued RHK Capital, a FINRA investment banking and brokerage firm, 100,000,000 common stock purchase warrants with a three-year expiration and a $0.02 exercise price as a retainer for services. On March 4, 2021, we entered into a strategic partnership agreement with Online Energy Manager, LLC (“OEM”), including cross-selling and referrals of energy management software, a purchase option for up to 100% of OEM with a valuation cap at $10 million, and the issuance to OEM of 100,000,000 common stock purchase warrants with a five-year expiration and a $0.01 exercise price. We can redeem the warrants if our common stock closes over $0.03 for 20 sessions and the underlying common shares have been registered, which would provide capital. On March 4, 2021, we issued Andrea Breaux, an executive at EcoLite Holdings, LLC one of our acquisition targets, 20,000,000 common stock purchase warrants with a three-year expiration and $0.01 exercise price. Ms. Breaux has joined our Advisory Board and is managing our social media. On March 4, 2021, we issued Dilip Limaye, owner of Online Energy Manager, LLC (“OEM”) one of our strategic partners, 20,000,000 common stock purchase warrants with a three-year expiration and $0.01 exercise price. Mr. Limaye has joined our Advisory Board and is partnering with us for clean building energy management. On March 6, 2021, we acquired 100% of the assets of Energy Intelligence Center, LLC (“EIC”) to further push into the clean building market. As consideration, we issued EIC 125,000 Series B Preferred shares and 50,000,000 common stock purchase warrants with a three-year expiration and a $0.01 exercise price. Since December 31, 2020, the Company has signed letters of intent (“LOIs”) now in various stages of due diligence to acquire EcoLite Holdings, LLC, an HVAC services contractor (name redacted), LED Funding, LLC and LUX Solutions, LLC, which are structured with consideration in the form of restricted Preferred B shares equity, cash subject to financing and seller notes. All said transactions’ documentation is available on Forms 8-K filed with the SEC’s EDGAR system. The offers are non-binding and there are no assurances. Per Note 6 the Company had $111,186 of convertible notes that were in default. During the first quarter of 2021 the Company converted all of that balance thereby curing all debt defaults. With regard to the final conversion of these default notes, on March 31, 2021, the Company retired the residual balance of a $200,000.00 Master Note partially funded by Tri-Bridge Ventures (“TBV”) on March 15, 2019, with $2,286.00 remaining principal, $3,069.86 accrued interest and $231,930.14 accrued penalties. For consideration, FOMO CORP. issued TBV 75,000,000 common shares. The transaction eliminated all default debt within FOMO’s capital stack/debt table making the Company current with its sole creditor GS Capital. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2020 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation The accompanying financial statements were prepared in conformity with generally accepted accounting principles in the United States of America (“US GAAP”). |
Use of Estimates | Use of Estimates The preparation of financial statements in conformity with US GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates include accounts payable, the recoverability of long-term assets, and the valuation of derivative liabilities. |
Consolidation | Consolidation The consolidated financial statements of the Company include the Company and its wholly owned subsidiaries, 2050 Motors, Inc. and Purge Virus, LLC. All material intercompany balances and transactions have been eliminated in consolidation. |
Cash | Cash Cash consists of deposits in one large national bank. On December 31, 2020 and December 31, 2019, respectively, the Company had $12,069 and $63 in cash in the United States. The Company has not experienced any losses in such accounts and believes it is not exposed to any risks on its cash in bank accounts. |
Fair Value of Financial Instruments | Fair Value of Financial Instruments For certain of the Company’s financial instruments, including cash accounts payable, accrued liabilities, short-term debt, and derivative liability, the carrying amounts approximate their fair values due to their short maturities. We adopted ASC Topic 820, “Fair Value Measurements and Disclosures,”, which requires disclosure of the fair value of financial instruments held by the Company. ASC Topic 825, “Financial Instruments,” defines fair value, and establishes a three-level valuation hierarchy for disclosures of fair value measurement that enhances disclosure requirements for fair value measures. The carrying amounts reported in the balance sheets for receivables and current liabilities each qualify as financial instruments and are a reasonable estimate of their fair values because of the short period of time between the origination of such instruments and their expected realization and their current market rate of interest. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1 measurement) and the lowest priority to unobservable inputs (level 3 measurements). The three levels of valuation hierarchy are defined as follows: Level 1 input to the valuation methodology are quoted prices for identical assets or liabilities in active markets. The Company’s investment in Mobicard Inc., see Note 4, is actively traded on the pink sheets. Level 2 inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. Level 3 inputs to the valuation methodology are unobservable in which little or no market data exists, therefore requiring an entity to develop its own assumptions, such as valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. The Company’s analyses of all financial instruments with features of both liabilities and equity under ASC 480, “Distinguishing Liabilities from Equity,” and ASC 815. We have recorded the conversion option on notes as a derivative liability because of the variable conversion price, which in accordance with U.S. GAAP, prevents them from being considered as indexed to our stock and qualified for an exception to derivative accounting. We recognize derivative instruments as either assets or liabilities on the accompanying balance sheets at fair value. We record changes in the fair value of the derivatives in the accompanying statement of operations. Assets and liabilities measured at fair value are as follows as of December 31, 2020: Total Level 1 Level 2 Level 4 Assets Investments 168,000 168,000 Total assets measured at fair value 168,000 168,000 Liabilities Derivative liability 834,230 834,230 Total liabilities measured at fair value 834,230 834,230 Assets and liabilities measured at fair value are as follows as of December 31, 2019: Total Level 1 Level 2 Level 4 Assets Investments 189,000 189,000 Total assets measured at fair value 189,000 189,000 Liabilities Derivative liability 893,171 893,171 Total liabilities measured at fair value 893,171 893,171 The following is a reconciliation of the derivative liability for which Level 3 inputs were used in determining the approximate fair value: Balance as of December 31, 2018 $ 876,058 Fair value of derivative liabilities 134,115 Loss on conversion 69,576 Gain on change in derivative liabilities (186,578 ) Balance as of December 31, 2019 $ 893,171 Balance as of December 31, 2019 $ 893,171 Fair value of derivative liabilities 266,068 Loss on conversion (483,793 ) Gain on change in derivative liabilities 158,784 Balance as of December 31, 2020 $ 834,230 |
Earnings Per Share (EPS) | Earnings Per Share (EPS) Basic EPS is computed by dividing income available to common shareholders by the weighted average number of common shares outstanding for the period. Diluted EPS is computed similar to basic net income per share except that the denominator is increased to include the number of additional common shares that would have been outstanding if all the potential common shares, warrants and stock options had been issued and if the additional common shares were dilutive. Diluted EPS assumes that all dilutive convertible shares and stock options were converted or exercised. Dilution is computed by applying the treasury stock method for the outstanding options and the if-converted method for the outstanding convertible preferred shares. Under the treasury stock method, options and warrants are assumed to be exercised at the beginning of the period (or at the time of issuance, if later), and as if funds obtained thereby were used to purchase common stock at the average market price during the period. Under the if-converted method, convertible outstanding instruments are assumed to be converted into common stock at the beginning of the period (or at the time of issuance, if later). During the year ended December 31, 2020 and 2019, the Company generated no revenues and incurred substantial losses, of which the vast majority were due to mostly non-cash charges for accrued interest, penalties and derivative charges related to convertible debt instruments. Therefore, the effect of any common stock equivalents on EPS is anti-dilutive during those periods. |
Concentration of Credit Risk | Concentration of Credit Risk Cash is mainly maintained by one highly qualified institution in the United States. At no time were such amounts more than federally insured limits. Management does not believe that the Company is subject to any unusual financial risk beyond the normal risk associated with commercial banking relationships. The Company has not experienced any losses on our deposits of cash. |
Income Taxes | Income Taxes The Company utilizes FASB Accounting Standards Codification (ASC) Topic 740, Income Taxes, which requires recognition of deferred tax assets and liabilities for the expected future tax consequences of events that were included in the financial statements or tax returns. Under this method, deferred income taxes are recognized for the tax consequences in future years of differences between the tax bases of assets and liabilities and their financial reporting amounts at each period end based on enacted tax laws and statutory tax rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized. ASC 740 provides accounting and disclosure guidance about positions taken by an organization in its tax returns that might be uncertain. When tax returns are filed, it is likely that some positions taken would be sustained upon examination by the taxing authorities, while others are subject to uncertainty about the merits of the position taken or the amount of the position that would be ultimately sustained. The benefit of a tax position is recognized in the financial statements in the period during which, based on all available evidence, management believes it is more likely than not that the position will be sustained upon examination, including the resolution of appeals or litigation processes, if any. Tax positions taken are not offset or aggregated with other positions. Tax positions that meet the more-likely-than-not recognition threshold are measured as the largest amount of tax benefit that is more than 50 percent likely of being realized upon settlement with the applicable taxing authority. The portion of the benefits associated with tax positions taken that exceeds the amount measured as described above is reflected as a liability for unrecognized tax benefits in the accompanying balance sheets along with any associated interest and penalties that would be payable to the taxing authorities upon examination. Interest associated with unrecognized tax benefits is classified as interest expense and penalties are classified in selling, general and administrative expenses in the statements of income. On December 31, 2020 and December 31, 2019, the Company had not taken any significant uncertain tax positions on its tax returns for the period ended December 31, 2019 and prior years or in computing its tax provisions for any years. Prior management considered its tax positions, and believed that all of the positions taken by the Company in its Federal and State tax returns were more likely than not to be sustained upon examination. The Company is subject to examination by U.S. Federal and State tax authorities from inception to present, generally for three years after they are filed. New management, which took control of the Company on March 5, 2019, is currently evaluating prior management’s decision to not file federal tax returns and plans on filing past returns and related 10-99 filings for compensation paid to prior management, employees, consultants, contractors and affiliates. The Company does not believe it has a material tax liability due to its operating losses in these periods but is preparing tax filings to bring itself current as it completes and moves forward on announced mergers and acquisitions. |
Risks and Uncertainties | Risks and Uncertainties The Company is subject to risks from, among other things, competition associated with the industry in general, other risks associated with financing, liquidity requirements, rapidly changing customer requirements, limited operating history and the volatility of public markets. |
Accounts Receivable | Accounts Receivable Accounts receivable are stated at the amount management expects to collect from outstanding balances. The Company provides for probable uncollectible amounts based upon its assessment of the current status of the individual receivables and after using reasonable collection efforts. The allowance for doubtful accounts as of December 31, 2020 and 2019 was zero. |
Revenue Recognition | Revenue Recognition The Company recognizes revenues in accordance with Accounting Standards Codification (“ ASC” |
Stock-Based Compensation | Stock-Based Compensation The Company accounts for all stock-based compensation using a fair value-based method. The fair value of equity-classified awards granted to employees is estimated on the date of the grant using the Black-Scholes option-pricing model and the related stock-based compensation expense is recognized over the vesting period during which an employee is required to provide service in exchange for the award. |
Goodwill and Other Acquired Intangible Assets | Goodwill and Other Acquired Intangible Assets The Company initially records goodwill and other intangible assets at their estimated fair values and reviews these assets periodically for impairment. Goodwill represents the excess of the purchase price over the fair value of identifiable tangible and intangible assets acquired and liabilities assumed in a business combination and is tested at least annually for impairment, historically during our fourth quarter. |
Recently Issued Accounting Pronouncements | Recently Issued Accounting Pronouncements In February 2016, FASB issued ASU No. 2016-02, Leases (Topic 842) (“ASU 2016-02”). ASU 2016-02 requires an entity to recognize right-of-use assets and lease liabilities on its balance sheet and disclose key information about leasing arrangements. For public companies, ASU 2016-02 is effective for annual reporting periods beginning after December 15, 2018, including interim periods within that reporting period, and requires a modified retrospective adoption, with early adoption permitted. We are evaluating the impact this guidance will have on our financial position and statement of operations. |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Accounting Policies [Abstract] | |
Schedule of Fair Value of Assets and Liabilities | Assets and liabilities measured at fair value are as follows as of December 31, 2020: Total Level 1 Level 2 Level 4 Assets Investments 168,000 168,000 Total assets measured at fair value 168,000 168,000 Liabilities Derivative liability 834,230 834,230 Total liabilities measured at fair value 834,230 834,230 Assets and liabilities measured at fair value are as follows as of December 31, 2019: Total Level 1 Level 2 Level 4 Assets Investments 189,000 189,000 Total assets measured at fair value 189,000 189,000 Liabilities Derivative liability 893,171 893,171 Total liabilities measured at fair value 893,171 893,171 |
Schedule of Reconciliation of Derivative Liability | The following is a reconciliation of the derivative liability for which Level 3 inputs were used in determining the approximate fair value: Balance as of December 31, 2018 $ 876,058 Fair value of derivative liabilities 134,115 Loss on conversion 69,576 Gain on change in derivative liabilities (186,578 ) Balance as of December 31, 2019 $ 893,171 Balance as of December 31, 2019 $ 893,171 Fair value of derivative liabilities 266,068 Loss on conversion (483,793 ) Gain on change in derivative liabilities 158,784 Balance as of December 31, 2020 $ 834,230 |
Convertible Note Payables (Tabl
Convertible Note Payables (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Debt Disclosure [Abstract] | |
Schedule of Convetible Notes Outstanding | As of December 31, 2020, the Company had the following third-party convertible notes outstanding: Lender Origination Maturity Amount Interest Note Auctus 10/28/20 10/28/21 115,000 10.0 % Note #8* Power Up 10 03/08/19 01/15/20 9,000 10.0 % Note #10* Tri-Bridge 3/15/19 9/15/19 2,286 10.0 % Note #11* PowerUp 11 7/9/19 4/30/20 35,000 12.0 % Note #12* GS Capital 9/6/19 9/6/20 28,900 12.0 % Note #13* GS Capital 11/21/19 11/21/20 18,000 12.0 % Note #14* PowerUp 11/21/19 11/21/20 18,000 12.0 % Total $ 226,186 less discount 0 Net $ 226,186 *Note is currently in default. |
Schedule of Fair Value Assumption | The variables used for the Black-Scholes model are as listed below: December 31, 2020 December 31, 2019 ● Volatility: 253% - 466% Volatility: 191% - 455% ● Risk free rate of return: 1.24%- 1.53% Risk free rate of return: 1.93% - 1.99% ● Expected term: 1-3 years Expected term: 1-3 years |
Basis of Presentation and Org_2
Basis of Presentation and Organization (Details Narrative) - USD ($) | Mar. 06, 2019 | Dec. 31, 2020 |
Number of warrants issued | 328,571,428 | |
Vikram Grover [Member] | ||
Officer's compensation | $ 12,500 | |
Compensation payable in cash | $ 5,000 | |
Number of warrants issued | 100,000,000 | 200,000,000 |
Exercise price of warrants | $ 0.001 | $ 0.001 |
Warrants expiration, term | 3 years | 3 years |
Vikram Grover [Member] | ||
Compensation payable in cash | $ 7,500 | |
Officer's compensation payable | $ 5,000 |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies (Details Narrative) - USD ($) | Dec. 31, 2020 | Dec. 31, 2019 |
Accounting Policies [Abstract] | ||
Cash | $ 12,069 | $ 63 |
Allowance for doubtful accounts | $ 0 | $ 0 |
Summary of Significant Accoun_5
Summary of Significant Accounting Policies - Schedule of Fair Value of Assets and Liabilities (Details) - USD ($) | Dec. 31, 2020 | Dec. 31, 2019 |
Investments | $ 168,000 | $ 189,000 |
Total assets measured at fair value | 168,000 | 189,000 |
Derivative liability | 834,230 | 893,171 |
Total liabilities measured at fair value | 834,230 | 893,171 |
Level 1 [Member] | ||
Investments | 168,000 | 189,000 |
Total assets measured at fair value | 168,000 | 189,000 |
Derivative liability | ||
Total liabilities measured at fair value | ||
Level 2 [Member] | ||
Investments | ||
Total assets measured at fair value | ||
Derivative liability | ||
Total liabilities measured at fair value | ||
Level 3 [Member] | ||
Investments | ||
Total assets measured at fair value | ||
Derivative liability | 834,230 | 893,171 |
Total liabilities measured at fair value | $ 834,230 | $ 893,171 |
Summary of Significant Accoun_6
Summary of Significant Accounting Policies - Schedule of Reconciliation of Derivative Liability (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Accounting Policies [Abstract] | ||
Balance, beginning | $ 893,171 | $ 876,058 |
Fair value of derivative liabilities | 266,068 | 134,115 |
Loss on conversion | (483,793) | 69,576 |
Gain on change in derivative liabilities | 158,784 | (186,578) |
Balance, ending | $ 834,230 | $ 893,171 |
Going Concern (Details Narrativ
Going Concern (Details Narrative) - USD ($) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Accumulated deficit | $ (7,662,645) | $ (6,025,926) |
Working capital | (1,135,595) | |
Operating loss | $ (1,636,719) | $ (65,235) |
Investments (Details Narrative)
Investments (Details Narrative) - USD ($) | Oct. 19, 2020 | Dec. 31, 2019 | Dec. 31, 2020 | May 02, 2014 |
Acquisition of goodwill | $ 596,906 | |||
Mobicard Inc [Member] | ||||
Number of shares exchanged | 210,000,000 | |||
Share price | $ 0.0008 | $ 0.0023 | ||
Investment amount | $ 168,000 | $ 483,000 | ||
Kanab Corp [Member] | ||||
Share price | $ 0.0001 | |||
Number of shares received for services | 1,000,000 | |||
Purge Virus LLC [Member] | ||||
Ownership interest percentage | 100.00% | |||
Preferred Class B [Member] | ||||
Number of shares issued | 400,000 | |||
Series B Preferred Stock [Member] | Purge Virus LLC [Member] | ||||
Number of shares issued for consideration | 2,000,000 | |||
Number of shares issued for consideration, value | $ 800,000 | |||
Acquisition of intangible assets | 225,000 | |||
Acquisition of goodwill | $ 596,906 | |||
Series B Preferred Stock [Member] | Purge Virus LLC [Member] | Minimum [Member] | ||||
Acquisition of intangible assets useful lives | 3 years | |||
Series B Preferred Stock [Member] | Purge Virus LLC [Member] | Maximum [Member] | ||||
Acquisition of intangible assets useful lives | 10 years |
Loans Payable Due to Related _2
Loans Payable Due to Related Parties (Details Narrative) | Dec. 31, 2020USD ($) |
Debt Disclosure [Abstract] | |
Outstanding balance | $ 3,574 |
Convertible Note Payables (Deta
Convertible Note Payables (Details Narrative) - USD ($) | Dec. 30, 2020 | Dec. 02, 2020 | Nov. 02, 2020 | Oct. 28, 2020 | Oct. 28, 2020 | Oct. 20, 2020 | Oct. 08, 2020 | Sep. 15, 2020 | Sep. 04, 2020 | Aug. 31, 2020 | Feb. 18, 2020 | Feb. 05, 2020 | Feb. 03, 2020 | Jan. 08, 2020 | Dec. 06, 2019 | Nov. 18, 2019 | Nov. 14, 2019 | Nov. 12, 2019 | Sep. 06, 2019 | Jul. 09, 2019 | Mar. 13, 2019 | Mar. 08, 2019 | Oct. 08, 2020 | Sep. 30, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | Aug. 27, 2020 |
Amortized of debt discount | $ 244,085 | ||||||||||||||||||||||||||
Convertible Notes Payable [Member] | |||||||||||||||||||||||||||
Debt interest rate | 10.00% | ||||||||||||||||||||||||||
Amortized of debt discount | $ 63,350 | 100,299 | |||||||||||||||||||||||||
Debt instrument, maturity date | Oct. 28, 2021 | ||||||||||||||||||||||||||
Convertible Note [Member] | |||||||||||||||||||||||||||
Debt interest rate | 12.00% | ||||||||||||||||||||||||||
Debt instrument, face amount | $ 12,500 | ||||||||||||||||||||||||||
Debt instrument, maturity date | Sep. 15, 2019 | ||||||||||||||||||||||||||
Third Parties [Member] | |||||||||||||||||||||||||||
Debt interest rate | 12.00% | 22.00% | |||||||||||||||||||||||||
Debt conversion shares issued, value | $ 809,292 | ||||||||||||||||||||||||||
Debt conversion shares issued | 2,936,347,316 | ||||||||||||||||||||||||||
Debt instrument, face amount | $ 28,000 | ||||||||||||||||||||||||||
Debt instrument, maturity date | Jan. 15, 2020 | ||||||||||||||||||||||||||
Proceeds from convertible debt | $ 25,000 | ||||||||||||||||||||||||||
Third Parties [Member] | Minimum [Member] | |||||||||||||||||||||||||||
Debt interest rate | 10.00% | ||||||||||||||||||||||||||
Third Parties [Member] | Maximum [Member] | |||||||||||||||||||||||||||
Debt interest rate | 12.00% | ||||||||||||||||||||||||||
Third-Party Lender [Member] | |||||||||||||||||||||||||||
Debt interest rate | 12.00% | 12.00% | 10.00% | 10.00% | 12.00% | 12.00% | |||||||||||||||||||||
Debt conversion shares issued, value | $ 12,000 | $ 10,944 | $ 7,000 | $ 4,682 | $ 5,600 | $ 5,300 | $ 2,350 | $ 2,170 | $ 761,456 | $ 231,444 | |||||||||||||||||
Debt conversion shares issued | 25,000,000 | 222,838,600 | 202,159,667 | 188,792,200 | 135,187,800 | 112,318,333 | 115,000,000 | 116,666,667 | 93,640,000 | 112,000,000 | 106,000,000 | 72,800,000 | 89,000,000 | 611,005,229 | 179,819,200 | 2,936,347,316 | 1,153,211,664 | ||||||||||
Amortized of debt discount | $ 15,000 | $ 10,000 | $ 3,000 | $ 2,500 | |||||||||||||||||||||||
Debt instrument, face amount | $ 115,000 | 115,000 | $ 0 | $ 21,239 | $ 5,070 | $ 58 | $ 2,950 | $ 18,000 | $ 18,000 | $ 35,000 | $ 35,000 | $ 21,239 | $ 20,230 | $ 255,334 | $ 6,100 | ||||||||||||
Debt instrument, maturity date | Oct. 28, 2021 | Nov. 14, 2020 | Nov. 12, 2020 | Sep. 6, 2020 | Apr. 30, 2020 | ||||||||||||||||||||||
Proceeds from convertible debt | $ 98,000 | 98,000 | $ 12,500 | $ 15,500 | $ 30,500 | $ 32,000 | |||||||||||||||||||||
Legal fees | $ 2,000 | $ 5,000 | $ 500 | $ 2,500 |
Convertible Note Payables - Sch
Convertible Note Payables - Schedule of Convetible Notes Outstanding (Details) | 12 Months Ended | |
Dec. 31, 2020USD ($) | ||
Total convertible notes payable | $ 226,186 | |
less discount | 0 | |
Convertible note payables, net | $ 226,186 | |
Convertible Notes Payable [Member] | ||
Lender | Auctus | |
Origination Date | Oct. 28, 2020 | |
Maturity | Oct. 28, 2021 | |
Interest | 10.00% | |
Total convertible notes payable | $ 115,000 | |
Note #8 [Member] | ||
Lender | Power Up 10 | [1] |
Origination Date | Mar. 8, 2019 | [1] |
Maturity | Jan. 15, 2020 | [1] |
Interest | 10.00% | [1] |
Total convertible notes payable | $ 9,000 | [1] |
Note #10 [Member] | ||
Lender | Tri-Bridge | [1] |
Origination Date | Mar. 15, 2019 | [1] |
Maturity | Sep. 15, 2019 | [1] |
Interest | 10.00% | [1] |
Total convertible notes payable | $ 2,286 | [1] |
Note #11 [Member] | ||
Lender | PowerUp 11 | [1] |
Origination Date | Jul. 9, 2019 | [1] |
Maturity | Apr. 30, 2020 | [1] |
Interest | 12.00% | [1] |
Total convertible notes payable | $ 35,000 | [1] |
Note #12 [Member] | ||
Lender | GS Capital | [1] |
Origination Date | Sep. 6, 2019 | [1] |
Maturity | Sep. 6, 2020 | [1] |
Interest | 12.00% | [1] |
Total convertible notes payable | $ 28,900 | [1] |
Note #13 [Member] | ||
Lender | GS Capital | [1] |
Origination Date | Nov. 21, 2019 | [1] |
Maturity | Nov. 21, 2020 | [1] |
Interest | 12.00% | [1] |
Total convertible notes payable | $ 18,000 | [1] |
Note #14 [Member] | ||
Lender | PowerUp | [1] |
Origination Date | Nov. 21, 2019 | [1] |
Maturity | Nov. 21, 2020 | [1] |
Interest | 12.00% | [1] |
Total convertible notes payable | $ 18,000 | [1] |
[1] | Note is currently in default. |
Convertible Note Payables - S_2
Convertible Note Payables - Schedule of Fair Value Assumption (Details) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Minimum [Member] | ||
Expected term | 1 year | 1 year |
Maximum [Member] | ||
Expected term | 3 years | 3 years |
Measurement Input, Price Volatility [Member] | Minimum [Member] | ||
Fair value assumptions, measurement input, percentage | 253 | 191 |
Measurement Input, Price Volatility [Member] | Maximum [Member] | ||
Fair value assumptions, measurement input, percentage | 466 | 455 |
Measurement Input, Risk Free Interest Rate [Member] | Minimum [Member] | ||
Fair value assumptions, measurement input, percentage | 1.24 | 1.93 |
Measurement Input, Risk Free Interest Rate [Member] | Maximum [Member] | ||
Fair value assumptions, measurement input, percentage | 1.53 | 1.99 |
Commitments and Contingencies (
Commitments and Contingencies (Details Narrative) - Auctus Fund, LLC [Member] - USD ($) | Jan. 02, 2021 | Dec. 02, 2020 | Nov. 02, 2020 | Nov. 25, 2019 | Nov. 01, 2019 | Dec. 31, 2020 | Dec. 31, 2019 |
Interest and penalties | $ 283,000 | ||||||
Note and accrued interest value | $ 60,522 | ||||||
Number of shares issued for settlement of debt | 264,680,378 | 264,680,377 | |||||
Number of shares authorized for reserves | 1,500,000,000 | ||||||
Accrued Liability | $ 260,000 | ||||||
Subsequent Event [Member] | |||||||
Number of shares issued for settlement of debt | 264,680,378 |
Warrants and Options (Details N
Warrants and Options (Details Narrative) - USD ($) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Number of common stock purchase warrants shares | 328,571,428 | |
Warrant expenses | $ 844,754 | $ 16,803 |
Warrants outstanding | 713,571,428 | |
Warrant weighted average life | 3 years 10 months 14 days | |
Warrant intrinsic value | $ 844,754 | |
EDGE FiberNet, Inc. [Member] | ||
Number of common stock purchase warrants shares | 10,000,000 | |
Warrant strike price per share | $ 0.005 | |
Warrants term | 3 years | |
Three Members Advisory Board [Member] | ||
Number of common stock purchase warrants shares | 50,000,000 | |
Warrant strike price per share | $ 0.001 | |
Warrants term | 3 years |
Equity (Details Narrative)
Equity (Details Narrative) - USD ($) | Jan. 21, 2021 | Jan. 14, 2021 | Jan. 13, 2021 | Jan. 11, 2021 | Jan. 07, 2021 | Jan. 05, 2021 | Jan. 04, 2021 | Jan. 02, 2021 | Dec. 30, 2020 | Dec. 02, 2020 | Dec. 02, 2020 | Nov. 06, 2020 | Nov. 02, 2020 | Nov. 02, 2020 | Oct. 28, 2020 | Oct. 28, 2020 | Oct. 25, 2020 | Oct. 20, 2020 | Oct. 19, 2020 | Oct. 13, 2020 | Oct. 09, 2020 | Oct. 08, 2020 | Oct. 03, 2020 | Sep. 15, 2020 | Sep. 04, 2020 | Sep. 03, 2020 | Aug. 31, 2020 | Aug. 27, 2020 | Aug. 26, 2020 | Feb. 18, 2020 | Feb. 05, 2020 | Feb. 03, 2020 | Jan. 08, 2020 | Dec. 06, 2019 | Nov. 18, 2019 | Nov. 14, 2019 | Nov. 12, 2019 | Sep. 06, 2019 | Jul. 09, 2019 | May 15, 2019 | May 05, 2019 | Apr. 08, 2019 | Apr. 07, 2019 | Mar. 27, 2019 | Mar. 06, 2019 | Nov. 30, 2020 | Oct. 08, 2020 | Sep. 30, 2020 | Oct. 23, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2021 | Jan. 20, 2021 | Dec. 07, 2020 | Dec. 06, 2020 | Nov. 05, 2020 | Nov. 03, 2020 | Jun. 04, 2020 | Dec. 30, 2019 | Mar. 31, 2019 |
Common stock, shares authorized | 10,000,000,000 | 10,000,000,000 | 3,000,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, shares authorized | 100,000,000 | 10,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock voting rights | 1-50 conversion ratio and to vote on an as converted basis | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Annual dividend in cash or in kind | $ 0.0035 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of shares issued, value | $ 50,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amortized of debt discount | $ 244,085 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of common stock purchase warrants shares | 328,571,428 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
BKS Cambria, LLC [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of shares redeemed | 84,770,115 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
United Biorefineries, Inc [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of shares redeemed | 53,347,701 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Purge Virus LLC [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants vested value | $ 500,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Purge Virus LLC [Member] | Forecast [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants vested value | $ 1,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
AGILE Technologies Group, LLC [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of common stock purchase warrants shares | 100,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrant strike price per share | $ 0.001 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Series C Preferred Stock [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, shares authorized | 2,000,000 | 1,000,000 | 1,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock voting rights | increased the voting rights of the Series C Preferred shares to 100,000 for every one (1) share from 10,000 for every one (1) share. | Each share converts into one common share, has 10,000 votes on every corporate matter requiring a shareholder vote, has a par value of $0.0001, and pays an annual dividend at the option of the Company of $0.01. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, par value | $ 0.0001 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dividend of option per share | $ 0.01 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Series B Preferred Stock [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, shares authorized | 20,000,000 | 6,000,000 | 6,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, par value | $ 0.001 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, shares issued | 25,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of stock converted | 1,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Annual dividend in cash or in kind | $ 0.01 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Conversion of stock description | Each share converts into 1,000 common shares, votes on an as converted basis, has a par value of $0.001, and pays a cumulative annual dividend in cash or in kind of $0.01. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Series A Preferred Stock [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock voting rights | At the time, each share was convertible into one common share and had 50 votes on corporate matters. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Annual dividend in cash or in kind | $ 0.01 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Series A Preferred Stock [Member] | Minimum [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, par value | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Series A Preferred Stock [Member] | Maximum [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, par value | $ 0.0001 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Restricted Series B Preferred Shares [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of shares issued | 275,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Restricted Series B Preferred Shares [Member] | Source International LLC [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ownership percentage description | We issued John Kelly, owner of PPE Source International LLC (PPESI), a provider of PPE to small, medium, and large businesses, institutions, and government customers, 100,000 Series B Preferred Shares for a 180-day exclusive option to purchase his 100% member interests in PPESI. We are in negotiations to extend this purchase option. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Restricted Series B Preferred Shares [Member] | Purge Virus LLC [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ownership percentage description | On October 19, 2020, we closed the acquisition of 100% of the member interests of Purge Virus, LLC from Charles Szoradi for consideration of two million (2,000,000) Series B Preferred Shares. The purchase maintains PV as a 100% owned subsidiary of FOMO CORP., includes cross-selling relationships with Mr. Szoradi's 100% owned LED company Independence LED and 33% owned energy management software company Energy Intelligence Center (EIC), and JV partner Company PPE Source International LLC. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Third-Party Lender [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion shares issued | 1,242,231,661 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of common stock purchase warrants shares | 328,571,428 | 328,571,428 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrant strike price per share | $ 0.0007 | $ 0.0007 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants term | 5 years | 5 years | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Third-Party Lender [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion shares issued | 25,000,000 | 222,838,600 | 202,159,667 | 188,792,200 | 135,187,800 | 112,318,333 | 115,000,000 | 116,666,667 | 93,640,000 | 112,000,000 | 106,000,000 | 72,800,000 | 89,000,000 | 611,005,229 | 179,819,200 | 2,936,347,316 | 1,153,211,664 | |||||||||||||||||||||||||||||||||||||||||||
Borrowed amount | $ 115,000 | $ 115,000 | $ 0 | $ 21,239 | $ 5,070 | $ 58 | $ 2,950 | $ 6,100 | $ 18,000 | $ 18,000 | $ 35,000 | $ 35,000 | $ 21,239 | $ 20,230 | $ 255,334 | |||||||||||||||||||||||||||||||||||||||||||||
Legal fees and due diligence expenses | 2,000 | 5,000 | $ 500 | 2,500 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion shares issued, value | $ 12,000 | $ 10,944 | $ 7,000 | $ 4,682 | $ 5,600 | $ 5,300 | $ 2,350 | $ 2,170 | $ 761,456 | $ 231,444 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Debt interest | $ 94 | 86 | $ 7,080 | $ 1,690 | 2,812 | $ 948 | $ 1,290 | $ 6,743 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt fees | $ 500 | $ 500 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of shares issued for settlement of debt | 264,680,378 | 212,247,469 | 264,680,377 | 794,041,133 | 794,041,134 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Conversion of warrants | $ 25,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest and penalties | $ 55,710 | $ 20,799 | $ 30,238 | $ 283,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amortized of debt discount | 15,000 | 10,000 | 3,000 | 2,500 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from convertible debt | $ 98,000 | 98,000 | $ 12,500 | $ 15,500 | $ 30,500 | $ 32,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Broker fees | $ 2,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Third-Party Lender [Member] | Subsequent Event [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion shares issued | 58,497,722 | 59,652,311 | 58,497,722 | 55,555,556 | 55,555,556 | 40,000,000 | 40,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Borrowed amount | $ 18,000 | $ 18,000 | $ 21,059 | $ 20,000 | $ 20,000 | $ 10,800 | $ 19,200 | $ 205,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Legal fees and due diligence expenses | 800 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt interest | $ 11,479 | $ 4,166 | $ 0 | $ 0 | $ 0 | $ 7,248 | $ 0 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of shares issued for settlement of debt | 264,680,378 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Third-Party Lender [Member] | Restricted Common Share [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion shares issued | 128,144,181 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Vikram Grover [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for accrued compensation | $ 37,500 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for accrued compensation, shares | 93,750 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of common stock purchase warrants shares | 100,000,000 | 200,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrant strike price per share | $ 0.001 | $ 0.001 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants term | 3 years | 3 years | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Vikram Grover [Member] | Mobicard Inc [Member] | Securities Purchase Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of shares issued, value | $ 483,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of shares issued | 210,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Vikram Grover [Member] | Series C Preferred Stock [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, shares issued | 1,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Vikram Grover [Member] | Series B Preferred Stock [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for accrued compensation | $ 25,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for accrued compensation, shares | 125,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Vikram Grover [Member] | 1% Cumulative Series B Preferred Shares [Member] | Mobicard Inc [Member] | Securities Purchase Agreement [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of shares issued | 400,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Vikram Grover [Member] | Restricted Series B Preferred Shares [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for accrued compensation | $ 137,065 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for accrued compensation, shares | 1,370,065 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Former Owners [Member] | Series A Preferred Stock [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of stock transferred | 2,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CEO [Member] | Series A Preferred Stock [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, shares authorized | 3,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Board of Directors [Member] | Former Management, Employees, Affiliates and Representatives [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of shares issued | 162,846,149 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Paul Benis [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of common stock purchase warrants shares | 20,000,000 | 10,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrant strike price per share | $ 0.001 | $ 0.001 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants term | 3 years | 3 years | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Note payable | $ 11,593 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dr. Wayman Baker [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of common stock purchase warrants shares | 10,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrant strike price per share | $ 0.001 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants term | 3 years | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Aldo Baiocchi [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of common stock purchase warrants shares | 10,000,000 | 10,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrant strike price per share | $ 0.001 | $ 0.001 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Consultant [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of common stock purchase warrants shares | 25,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrant strike price per share | $ 0.001 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants term | 3 years | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Roderick Martin [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of common stock purchase warrants shares | 20,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrant strike price per share | $ 0.01 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants term | 3 years |
Subsequent Events (Details Narr
Subsequent Events (Details Narrative) | Mar. 06, 2021$ / sharesshares | Mar. 04, 2021$ / sharesshares | Feb. 26, 2021$ / sharesshares | Feb. 12, 2021shares | Jan. 21, 2021USD ($)shares | Jan. 20, 2021USD ($) | Jan. 14, 2021USD ($)shares | Jan. 13, 2021USD ($)shares | Jan. 11, 2021USD ($)shares | Jan. 11, 2021USD ($)shares | Jan. 07, 2021USD ($)shares | Jan. 07, 2021USD ($)shares | Jan. 05, 2021USD ($)shares | Jan. 04, 2021USD ($)shares | Jan. 01, 2021shares | Dec. 30, 2020shares | Dec. 02, 2020shares | Nov. 02, 2020USD ($) | Oct. 28, 2020USD ($) | Oct. 28, 2020USD ($) | Oct. 20, 2020USD ($)shares | Oct. 08, 2020USD ($)shares | Sep. 15, 2020USD ($)shares | Sep. 04, 2020USD ($)shares | Aug. 31, 2020USD ($)shares | Aug. 27, 2020USD ($) | Feb. 18, 2020shares | Feb. 05, 2020shares | Feb. 03, 2020shares | Jan. 08, 2020shares | Dec. 06, 2019USD ($)shares | Nov. 18, 2019USD ($)shares | Nov. 14, 2019USD ($) | Mar. 15, 2019USD ($)shares | Oct. 08, 2020USD ($)shares | Sep. 30, 2020USD ($)shares | Dec. 31, 2020USD ($)shares | Dec. 31, 2019USD ($)shares | Mar. 31, 2021USD ($) | Feb. 27, 2021$ / sharesshares | Feb. 17, 2021$ / sharesshares | Nov. 12, 2019USD ($) | Sep. 06, 2019USD ($) | Jul. 09, 2019USD ($) |
Number of common stock purchase warrants shares | 328,571,428 | |||||||||||||||||||||||||||||||||||||||||||
Total convertible notes payable | $ | $ 226,186 | |||||||||||||||||||||||||||||||||||||||||||
Tri-Bridge Ventures [Member] | ||||||||||||||||||||||||||||||||||||||||||||
Number of shares issued | 75,000,000 | |||||||||||||||||||||||||||||||||||||||||||
Convertable debt balance | $ | $ 2,286 | |||||||||||||||||||||||||||||||||||||||||||
Accrued interest | $ | 3,069 | |||||||||||||||||||||||||||||||||||||||||||
Accrued penalties | $ | $ 231,930 | |||||||||||||||||||||||||||||||||||||||||||
Third-Party Lender [Member] | ||||||||||||||||||||||||||||||||||||||||||||
Borrowed amount | $ | $ 115,000 | $ 115,000 | $ 0 | $ 21,239 | $ 5,070 | $ 58 | $ 2,950 | $ 6,100 | $ 18,000 | $ 21,239 | $ 20,230 | $ 255,334 | $ 18,000 | $ 35,000 | $ 35,000 | |||||||||||||||||||||||||||||
Debt interest | $ | $ 94 | $ 86 | $ 7,080 | $ 1,690 | $ 2,812 | $ 948 | $ 1,290 | $ 6,743 | ||||||||||||||||||||||||||||||||||||
Debt conversion shares issued | 25,000,000 | 222,838,600 | 202,159,667 | 188,792,200 | 135,187,800 | 112,318,333 | 115,000,000 | 116,666,667 | 93,640,000 | 112,000,000 | 106,000,000 | 72,800,000 | 89,000,000 | 611,005,229 | 179,819,200 | 2,936,347,316 | 1,153,211,664 | |||||||||||||||||||||||||||
Legal fees | $ | $ 2,000 | $ 5,000 | $ 500 | $ 2,500 | ||||||||||||||||||||||||||||||||||||||||
Subsequent Event [Member] | Online Energy Manager LLC [Member] | ||||||||||||||||||||||||||||||||||||||||||||
Number of common stock purchase warrants shares | 100,000,000 | |||||||||||||||||||||||||||||||||||||||||||
Exercise term | 5 years | |||||||||||||||||||||||||||||||||||||||||||
Exercise price per share | $ / shares | $ 0.01 | |||||||||||||||||||||||||||||||||||||||||||
Subsequent Event [Member] | Online Energy Manager LLC [Member] | ||||||||||||||||||||||||||||||||||||||||||||
Purchase option Percent | 100.00% | |||||||||||||||||||||||||||||||||||||||||||
Subsequent Event [Member] | Dr Wayman Baker [Member] | ||||||||||||||||||||||||||||||||||||||||||||
Number of common stock purchase warrants shares | 20,000,000 | |||||||||||||||||||||||||||||||||||||||||||
Exercise term | 3 years | |||||||||||||||||||||||||||||||||||||||||||
Exercise price per share | $ / shares | $ 0.01 | |||||||||||||||||||||||||||||||||||||||||||
Subsequent Event [Member] | Tri-Bridge Ventures [Member] | ||||||||||||||||||||||||||||||||||||||||||||
Total convertible notes payable | $ | $ 200,000 | |||||||||||||||||||||||||||||||||||||||||||
Subsequent Event [Member] | M&A Consultant [Member] | Restricted Stock [Member] | ||||||||||||||||||||||||||||||||||||||||||||
Issuance of common shares | 6,250,000 | |||||||||||||||||||||||||||||||||||||||||||
Subsequent Event [Member] | Investor Relations [Member] | Restricted Stock [Member] | ||||||||||||||||||||||||||||||||||||||||||||
Issuance of common shares | 300,000 | |||||||||||||||||||||||||||||||||||||||||||
Subsequent Event [Member] | RHK Capital [Member] | ||||||||||||||||||||||||||||||||||||||||||||
Number of common stock purchase warrants shares | 100,000,000 | |||||||||||||||||||||||||||||||||||||||||||
Exercise term | 3 years | |||||||||||||||||||||||||||||||||||||||||||
Exercise price per share | $ / shares | $ 0.02 | |||||||||||||||||||||||||||||||||||||||||||
Subsequent Event [Member] | Energy Intelligence Center LLC [Member] | ||||||||||||||||||||||||||||||||||||||||||||
Number of common stock purchase warrants shares | 50,000,000 | |||||||||||||||||||||||||||||||||||||||||||
Exercise term | 3 years | |||||||||||||||||||||||||||||||||||||||||||
Exercise price per share | $ / shares | $ 0.01 | |||||||||||||||||||||||||||||||||||||||||||
Subsequent Event [Member] | Third-Party Lender [Member] | ||||||||||||||||||||||||||||||||||||||||||||
Borrowed amount | $ | $ 18,000 | $ 205,000 | $ 18,000 | $ 21,059 | $ 20,000 | $ 20,000 | $ 20,000 | $ 20,000 | $ 10,800 | $ 19,200 | ||||||||||||||||||||||||||||||||||
Debt interest | $ | $ 11,479 | $ 4,166 | $ 0 | $ 0 | $ 0 | $ 7,248 | $ 0 | |||||||||||||||||||||||||||||||||||||
Debt conversion shares issued | 58,497,722 | 59,652,311 | 58,497,722 | 55,555,556 | 55,555,556 | 40,000,000 | 40,000,000 | |||||||||||||||||||||||||||||||||||||
Legal fees | $ | $ 800 | |||||||||||||||||||||||||||||||||||||||||||
Debt instrument netted amount | $ | 180,000 | |||||||||||||||||||||||||||||||||||||||||||
Debt extinguishment | $ | $ 115,000 | |||||||||||||||||||||||||||||||||||||||||||
Subsequent Event [Member] | Third-Party Lender One [Member] | ||||||||||||||||||||||||||||||||||||||||||||
Borrowed amount | $ | $ 28,900 | $ 28,900 | ||||||||||||||||||||||||||||||||||||||||||
Debt interest | $ | $ 7,094 | |||||||||||||||||||||||||||||||||||||||||||
Debt conversion shares issued | 97,621,714 | |||||||||||||||||||||||||||||||||||||||||||
Legal fees | $ | $ 1,590 | |||||||||||||||||||||||||||||||||||||||||||
Subsequent Event [Member] | BRIO [Member] | ||||||||||||||||||||||||||||||||||||||||||||
Number of common stock purchase warrants shares | 100,000,000 | |||||||||||||||||||||||||||||||||||||||||||
Exercise term | 3 years | |||||||||||||||||||||||||||||||||||||||||||
Exercise price per share | $ / shares | $ 0.02 | |||||||||||||||||||||||||||||||||||||||||||
Subsequent Event [Member] | Andrea Breaux [Member] | ||||||||||||||||||||||||||||||||||||||||||||
Number of common stock purchase warrants shares | 20,000,000 | |||||||||||||||||||||||||||||||||||||||||||
Exercise term | 3 years | |||||||||||||||||||||||||||||||||||||||||||
Exercise price per share | $ / shares | $ 0.01 | |||||||||||||||||||||||||||||||||||||||||||
Subsequent Event [Member] | Dilip Limaye [Member] | ||||||||||||||||||||||||||||||||||||||||||||
Number of common stock purchase warrants shares | 20,000,000 | |||||||||||||||||||||||||||||||||||||||||||
Exercise term | 3 years | |||||||||||||||||||||||||||||||||||||||||||
Exercise price per share | $ / shares | $ 0.01 | |||||||||||||||||||||||||||||||||||||||||||
Subsequent Event [Member] | Series B Preferred Stock [Member] | ||||||||||||||||||||||||||||||||||||||||||||
Number of shares issued | 25,000 | |||||||||||||||||||||||||||||||||||||||||||
Subsequent Event [Member] | Series B Preferred Stock [Member] | SmartGuard UV [Member] | ||||||||||||||||||||||||||||||||||||||||||||
Number of shares issued | 175,000 | |||||||||||||||||||||||||||||||||||||||||||
Subsequent Event [Member] | Series B Preferred Stock [Member] | HVAC [Member] | ||||||||||||||||||||||||||||||||||||||||||||
Number of shares issued | 100,000 | |||||||||||||||||||||||||||||||||||||||||||
Subsequent Event [Member] | Series B Preferred Stock [Member] | Independence LED Lighting [Member] | ||||||||||||||||||||||||||||||||||||||||||||
Number of shares issued | 250,000 | |||||||||||||||||||||||||||||||||||||||||||
Acquisition percentage | 1 | |||||||||||||||||||||||||||||||||||||||||||
Subsequent Event [Member] | Series B Preferred Stock [Member] | Energy Intelligence Center LLC [Member] | ||||||||||||||||||||||||||||||||||||||||||||
Number of shares issued | 125,000 | |||||||||||||||||||||||||||||||||||||||||||
Acquisition percentage | 1 |