Cover
Cover - shares | 9 Months Ended | |
Sep. 30, 2021 | Oct. 28, 2021 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Document Period End Date | Sep. 30, 2021 | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2021 | |
Current Fiscal Year End Date | --12-31 | |
Entity File Number | 001-13126 | |
Entity Registrant Name | FOMO CORP | |
Entity Central Index Key | 0000867028 | |
Entity Tax Identification Number | 83-3889101 | |
Entity Incorporation, State or Country Code | CA | |
Entity Address, Address Line One | 1 E Erie St | |
Entity Address, Address Line Two | Ste 525 Unit #2250 | |
Entity Address, City or Town | Chicago | |
Entity Address, State or Province | IL | |
Entity Address, Postal Zip Code | 60611 | |
City Area Code | (630) | |
Local Phone Number | 286-9560 | |
Title of 12(b) Security | COMMON | |
Trading Symbol | FOMC | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 7,036,376,973 |
Condensed Balance Sheets
Condensed Balance Sheets - USD ($) | Sep. 30, 2021 | Dec. 31, 2020 |
Current assets | ||
Cash | $ 201,574 | $ 12,069 |
Accounts receivable, net | 68,677 | 20,859 |
Investment securities | 272,736 | |
Deposit on option to purchase business | 17,500 | |
Inventory | 233,252 | |
Loan receivable | 45,549 | |
Prepaid expense | 171,287 | 910 |
Total current assets | 1,010,575 | 33,838 |
Other assets: | ||
Investments | 168,000 | 168,000 |
Intangible assets | 1,138,547 | 206,250 |
Goodwill | 596,906 | 596,906 |
Total other assets | 1,903,453 | 971,156 |
Total assets | 2,914,028 | 1,004,994 |
Current liabilities | ||
Accounts payable | 72,290 | 63,291 |
Accrued intertest on loans payable | 24,945 | 24,945 |
Customer deposit | 193,897 | 5,614 |
Loan payable related party | 5,168 | 3,574 |
Loans payable due to non-related parties, net | 349,920 | 226,186 |
Warranty reserve | 48,136 | |
Loan Cares PPP | 11,593 | |
Derivative liability | 447,605 | 834,230 |
Total current liabilities | 1,141,961 | 1,169,433 |
Total liabilities | 1,141,961 | 1,169,433 |
Stockholders’ deficit | ||
Common stock; no par value authorized: 10,000,000,000 issued and outstanding 6,772,436,746 at September 30, 2021 and 4,713,543,121 December 31, 2020, respectively | 5,898,784 | 4,232,960 |
Additional paid-in-capital | 4,831,295 | 3,139,400 |
Accumulated deficit | (9,084,212) | (7,662,645) |
Common stock issuable | 125,000 | 125,000 |
Total stockholders’ deficit | 1,772,067 | (164,439) |
Total liabilities and stockholders’ deficit | 2,914,028 | 1,004,994 |
Preferred Class A [Member] | ||
Stockholders’ deficit | ||
Preferred Stock Value | 575 | 300 |
Preferred Class B [Member] | ||
Stockholders’ deficit | ||
Preferred Stock Value | 525 | 446 |
Preferred Class C [Member] | ||
Stockholders’ deficit | ||
Preferred Stock Value | $ 100 | $ 100 |
Condensed Balance Sheets (Paren
Condensed Balance Sheets (Parenthetical) - $ / shares | 9 Months Ended | 12 Months Ended |
Sep. 30, 2021 | Dec. 31, 2020 | |
Common stock, par value | $ 0 | $ 0 |
Common stock, shares authorized | 10,000,000,000 | 10,000,000,000 |
Common stock, shares issued | 6,772,436,746 | 4,713,543,121 |
Common stock, shares outstanding | 6,772,436,746 | 4,713,543,121 |
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 | 5,750,000 | 3,000,000 |
Preferred stock, shares outstanding | 5,750,000 | 3,000,000 |
Dividend percentage | 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 | 5,253,815 | 4,463,815 |
Preferred stock, shares outstanding | 5,253,815 | 4,463,815 |
Dividend percentage | 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 |
Dividend percentage | 1.00% | 1.00% |
Condense Statement of Operation
Condense Statement of Operations (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Income Statement [Abstract] | ||||
Operating revenue | $ 107,805 | $ 398,917 | ||
Cost of revenues | 97,905 | 296,631 | ||
Gross profit | 9,900 | 102,286 | ||
Operating expenses: | ||||
General and administrative | 233,025 | 215,372 | 1,213,503 | 314,646 |
Net loss from operations | (223,125) | (215,372) | (1,111,217) | (314,646) |
Other income (expenses) | ||||
Interest expense | (7,564) | (33,206) | (241,875) | (64,930) |
Loan forgiveness | 11,593 | |||
Gain (Loss) on investment | 53,643 | 42,000 | (234,764) | (21,000) |
Impairment loss | ||||
Derivative liability gain (loss) | (38,000) | (150,173) | 386,626 | 529,909 |
Debt settlement gain (loss) | 25,000 | (231,930) | 25,000 | |
Total other income (expenses) | 8,079 | (116,379) | (310,350) | 468,979 |
Income (loss) before income taxes | (215,046) | (331,751) | (1,421,567) | 154,333 |
Net income (loss) | $ (215,046) | $ (331,751) | $ (1,421,567) | $ 154,333 |
Net income (loss) per share, basic and diluted | $ 0 | $ (0.0001) | $ (0.0002) | $ 0.0001 |
Weighted average common equivalent share outstanding, basic and diluted | 6,218,580,694 | 2,344,262,083 | 5,916,222,100 | 2,202,595,038 |
Condensed Statement of Stockhol
Condensed Statement of Stockholders' Deficit (Unaudited) - USD ($) | Common Stock [Member] | Preferred Stock [Member]Preferred Class A [Member] | Preferred Stock [Member]Preferred Class B [Member] | Preferred Stock [Member]Preferred Class C [Member] | Common Stock Issuable [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Beginning balance, value at Dec. 31, 2019 | $ 3,800,405 | $ 300 | $ 40 | $ 100 | $ 125,000 | $ 858,218 | $ (6,025,926) | $ (1,241,863) |
Beginning balance, shares at Dec. 31, 2019 | 1,777,198,805 | 3,000,000 | 400,000 | 1,000,000 | ||||
Conversion of convertible debt | $ 22,582 | 22,582 | ||||||
Conversion of convertible debt, shares | 428,306,667 | |||||||
Warrants | 5,781 | 5,781 | ||||||
Net income (loss) | 359,710 | 359,710 | ||||||
Ending balance, value at Mar. 31, 2020 | $ 3,822,987 | $ 300 | $ 40 | $ 100 | 125,000 | 863,999 | (5,666,216) | (853,790) |
Ending balance, shares at Mar. 31, 2020 | 2,205,505,472 | 3,000,000 | 400,000 | 1,000,000 | ||||
Beginning balance, value at Dec. 31, 2019 | $ 3,800,405 | $ 300 | $ 40 | $ 100 | 125,000 | 858,218 | (6,025,926) | (1,241,863) |
Beginning balance, shares at Dec. 31, 2019 | 1,777,198,805 | 3,000,000 | 400,000 | 1,000,000 | ||||
Net income (loss) | 154,333 | |||||||
Ending balance, value at Sep. 30, 2020 | $ 3,885,791 | $ 300 | $ 241 | $ 100 | 125,000 | 1,306,828 | (5,843,634) | (525,374) |
Ending balance, shares at Sep. 30, 2020 | 8,910,200,613 | 3,000,000 | 2,405,916 | 1,000,000 | ||||
Beginning balance, value at Dec. 31, 2019 | $ 3,800,405 | $ 300 | $ 40 | $ 100 | 125,000 | 858,218 | (6,025,926) | (1,241,863) |
Beginning balance, shares at Dec. 31, 2019 | 1,777,198,805 | 3,000,000 | 400,000 | 1,000,000 | ||||
Net income (loss) | 1,636,719 | |||||||
Ending balance, value at Dec. 31, 2020 | $ 4,232,960 | $ 300 | $ 446 | $ 100 | 125,000 | 3,139,400 | (7,662,645) | (164,439) |
Ending balance, shares at Dec. 31, 2020 | 4,713,543,121 | 3,000,000 | 4,463,815 | 1,000,000 | ||||
Beginning balance, value at Mar. 31, 2020 | $ 3,822,987 | $ 300 | $ 40 | $ 100 | 125,000 | 863,999 | (5,666,216) | (853,790) |
Beginning balance, shares at Mar. 31, 2020 | 2,205,505,472 | 3,000,000 | 400,000 | 1,000,000 | ||||
Warrants | 5,781 | 5,781 | ||||||
Net income (loss) | 154,333 | 154,333 | ||||||
Ending balance, value at Jun. 30, 2020 | $ 3,822,987 | $ 300 | $ 40 | $ 100 | 125,000 | 869,780 | (5,511,883) | (693,676) |
Ending balance, shares at Jun. 30, 2020 | 2,205,505,472 | 3,000,000 | 400,000 | 1,000,000 | ||||
Conversion of convertible debt | $ 62,804 | 62,804 | ||||||
Conversion of convertible debt, shares | 6,704,695,141 | |||||||
Preferred series B issued for services | $ 25 | 154,975 | 155,000 | |||||
Preferred series B issued for services, shares | 250,000 | |||||||
Preferred series B issued for accrued compensation | $ 150 | 161,915 | 162,065 | |||||
Preferred series B issued for accrued compensation, shares | 1,495,065 | |||||||
Preferred series B issued for deposit on asset purchase | $ 10 | 49,990 | 50,000 | |||||
Preferred series B issued for deposit on asset purchase, shares | 100,000 | |||||||
Preferred series B issued for investment | $ 16 | 64,324 | 64,340 | |||||
Preferred series B issued for investment, shares | 160,851 | |||||||
Warrants | 5,844 | 5,844 | ||||||
Net income (loss) | (331,751) | (331,751) | ||||||
Ending balance, value at Sep. 30, 2020 | $ 3,885,791 | $ 300 | $ 241 | $ 100 | 125,000 | 1,306,828 | (5,843,634) | (525,374) |
Ending balance, shares at Sep. 30, 2020 | 8,910,200,613 | 3,000,000 | 2,405,916 | 1,000,000 | ||||
Beginning balance, value at Dec. 31, 2020 | $ 4,232,960 | $ 300 | $ 446 | $ 100 | 125,000 | 3,139,400 | (7,662,645) | (164,439) |
Beginning balance, shares at Dec. 31, 2020 | 4,713,543,121 | 3,000,000 | 4,463,815 | 1,000,000 | ||||
Conversion of convertible debt | $ 563,643 | 563,643 | ||||||
Conversion of convertible debt, shares | 905,435,038 | |||||||
Stock issued for compensation | $ 99,640 | 99,640 | ||||||
Stock issued for compensation, shares | 6,550,000 | |||||||
Stock issued for loan cost | $ 20,000 | 20,000 | ||||||
Stock issued for loan cost, shares | 10,000,000 | |||||||
Purchase common shares | $ 250,000 | 250,000 | ||||||
Purchase common share, shares | 65,000,000 | |||||||
Purchase Preferred A shares | $ 275 | 274,725 | 275,000 | |||||
Purchase Preferred A shares, shares | 2,750,000 | |||||||
Stock issued for compensation | $ 30 | 123,970 | 124,000 | |||||
Stock issued for compensation shares, shares | 300,000 | |||||||
Options to purchase business | $ 17 | 38,483 | 38,500 | |||||
Options to purchase business, shares | 175,000 | |||||||
Purchase assets | $ 38 | 924,962 | 925,000 | |||||
Purchase assets, shares | 375,000 | |||||||
Warrants | 194,000 | 194,000 | ||||||
Net income (loss) | (2,389,230) | (2,389,230) | ||||||
Ending balance, value at Mar. 31, 2021 | $ 5,166,243 | $ 575 | $ 531 | $ 100 | 125,000 | 4,695,540 | (10,051,875) | (63,886) |
Ending balance, shares at Mar. 31, 2021 | 5,700,528,159 | 5,750,000 | 5,313,815 | 1,000,000 | ||||
Beginning balance, value at Dec. 31, 2020 | $ 4,232,960 | $ 300 | $ 446 | $ 100 | 125,000 | 3,139,400 | (7,662,645) | $ (164,439) |
Beginning balance, shares at Dec. 31, 2020 | 4,713,543,121 | 3,000,000 | 4,463,815 | 1,000,000 | ||||
Stock issued for loan cost, shares | 110,000,000 | |||||||
Net income (loss) | $ (1,421,567) | |||||||
Ending balance, value at Sep. 30, 2021 | $ 5,898,784 | $ 575 | $ 525 | $ 100 | 125,000 | 4,831,295 | (9,084,212) | 1,772,067 |
Ending balance, shares at Sep. 30, 2021 | 6,772,436,746 | 5,750,000 | 5,253,815 | 1,000,000 | ||||
Beginning balance, value at Mar. 31, 2021 | $ 5,166,243 | $ 575 | $ 531 | $ 100 | 125,000 | 4,695,540 | (10,051,875) | (63,886) |
Beginning balance, shares at Mar. 31, 2021 | 5,700,528,159 | 5,750,000 | 5,313,815 | 1,000,000 | ||||
Purchase common shares | $ 176,000 | 176,000 | ||||||
Purchase common share, shares | 75,000,000 | |||||||
Net income (loss) | 1,182,709 | 1,182,709 | ||||||
Ending balance, value at Jun. 30, 2021 | $ 5,342,243 | $ 575 | $ 531 | $ 100 | 125,000 | 4,695,540 | (8,869,166) | 1,294,823 |
Ending balance, shares at Jun. 30, 2021 | 5,775,528,159 | 5,750,000 | 5,313,815 | 1,000,000 | ||||
Conversion of convertible debt | $ 44,015 | 44,015 | ||||||
Conversion of convertible debt, shares | 504,396,087 | |||||||
Preferred series B issued for services | $ 20 | 19,980 | 20,000 | |||||
Preferred series B issued for services, shares | 200,000 | |||||||
Conversion of preferred series B shares to common shares | $ 26 | $ (26) | ||||||
Conversion of preferred series B shares to common shares, shares | 260,000,000 | (260,000) | ||||||
Common shares issued for services | $ 87,500 | 87,500 | ||||||
Common shares issued for services, shares | 7,512,500 | |||||||
Common shares issued for retainer | $ 25,000 | 25,000 | ||||||
Common shares issued for retainer, shares | 25,000,000 | |||||||
Purchase common shares | $ 400,000 | 400,000 | ||||||
Purchase common share, shares | 200,000,000 | |||||||
Warrants | 115,775 | 115,775 | ||||||
Net income (loss) | (215,046) | (215,046) | ||||||
Ending balance, value at Sep. 30, 2021 | $ 5,898,784 | $ 575 | $ 525 | $ 100 | $ 125,000 | $ 4,831,295 | $ (9,084,212) | $ 1,772,067 |
Ending balance, shares at Sep. 30, 2021 | 6,772,436,746 | 5,750,000 | 5,253,815 | 1,000,000 |
Condensed Statement of Cash Flo
Condensed Statement of Cash Flows (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||
Sep. 30, 2021 | Mar. 31, 2021 | Sep. 30, 2020 | Mar. 31, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | |
Cash flows provided by (used for) operating activities: | |||||||
Net income (loss) | $ (215,046) | $ (2,389,230) | $ (331,751) | $ 359,710 | $ (1,421,567) | $ 154,333 | $ 1,636,719 |
Adjustments to reconcile net loss to net cash provided by (used for) operating activities: | |||||||
Amortization | 91,000 | ||||||
Debt settlement (income) loss | (25,000) | 231,930 | (25,000) | ||||
Issuance of common stock for services | 459,000 | 172,406 | |||||
Derivative liability adjustment | 38,000 | 150,173 | (386,626) | (529,909) | |||
Loan forgiveness | (11,593) | ||||||
Loss on investment | (53,643) | (42,000) | 234,764 | 21,000 | |||
Increase (decrease) in assets and liabilities: | |||||||
Accounts receivable | (47,818) | ||||||
Accounts payable | 8,999 | 5,000 | |||||
Inventory | (233,252) | ||||||
Prepaid expenses | (145,930) | ||||||
Accrued interest expense | 241,875 | ||||||
Customer deposits | 188,283 | ||||||
Accrued expenses | 190,400 | ||||||
Net cash used for operating activities | (790,935) | (11,770) | |||||
Cash flows provided by (used for) Financing activities | |||||||
Bank overdraft | 114 | ||||||
Proceeds from non-related loans | 430,020 | ||||||
Payment of loan receivable | (9,580) | ||||||
Proceeds from sale of common stock | 400,000 | ||||||
Proceeds from sale Preferred A shares | 275,000 | ||||||
Payments of loans non related | (115,000) | ||||||
Proceeds from CARES Act loan | 11,593 | ||||||
Net cash provided by (used for) financing activities | 980,440 | 11,707 | |||||
Net (decrease increase in cash | 189,505 | (63) | |||||
Cash, beginning of period | $ 12,069 | $ 63 | 12,069 | 63 | 63 | ||
Cash, end of period | $ 201,574 | 201,574 | $ 12,069 | ||||
Supplemental disclosure of cash flow information | |||||||
Amortization of deferred finance cost from non-cash transaction | |||||||
Common stock issued for debt | 563,643 | 28,819 | |||||
Debt discount from convertible loan | 40,500 | ||||||
Reclassification of derivative liability | 39,852 | ||||||
Interest paid |
BASIS OF PRESENTATION AND ORGAN
BASIS OF PRESENTATION AND ORGANIZATION | 9 Months Ended |
Sep. 30, 2021 | |
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 February 27, 1990 in the state of California as a blank check company named “K7 Capital Corporation”. On or around the year 2000, the Company restructured to seek acquisition candidates. 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, new management dissolved the Company’s Nevada subsidiary as the electric vehicle strategy had failed. Meanwhile, the Company incubated an internet business targeting the cannabis market and pursued various ventures in the internet, communications, and technology markets. The Company purchased Purge Virus, LLC to enter the viral disinfection technology market on October 19, 2020. Purge Virus LLC changed its name to IAQ Technologies effective September 21, 2021. The Company closed lighting and energy management asset purchases of Independence LED Lighting, LLC and Energy Intelligence Center, LLC during the first three months of 2021. The Company formed Energy Intelligence Center LLC, (a Wyoming LLC), a wholly owned subsidiary of the Company and subsequently contributed the assets purchased from Independence LED Lighting, LLC and Energy Intelligence Center, LLC. The Company has since announced letters of intent and definitive agreements to acquire additional technology and services businesses. 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 Schaefer’s 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 5,000 12,500 7,500 5,000 100 0.001 three 0.01 100 0.001 three 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 officially 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 October 19, 2020, FOMO CORP. purchased Purge Virus, LLC and consequently entered the viral disinfection market. Purge Virus, LLC was renamed IAQ Technologies, LLC on September 21, 2021 in recognition of the importance of Indoor Air Quality. 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, on May 7, 2021, FINRA issued a name change and ticker change to “FOMO CORP.” and applied the ticker “FOMC”. On February 12, 2021, we purchased the assets of Independence LED Lighting, LLC (a Pennsylvania LLC). The assets were subsequently placed into a newly formed subsidiary, Energy Intelligence Center LLC (a Wyoming LLC). On March 6, 2021, we purchased the assets of Energy Intelligence Center, LLC (a Pennsylvania LLC). The assets were subsequently placed into a newly formed subsidiary, Energy Intelligence Center LLC (a Wyoming LLC). As of June 30, 2021, the Company was current with its financials. |
SUMMARY OF SIGNIFICANT ACCOUNTI
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 9 Months Ended |
Sep. 30, 2021 | |
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., IAQ Technologies LLC (formerly Purge Virus, LLC) and Energy Intelligence Center LLC. All material intercompany balances and transactions have been eliminated in consolidation. Cash Cash consists of deposits in one large national bank. On September 30, 2021 and December 31, 2020, respectively, the Company had $ 201,574 12,069 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. The Company’s investment in Himalaya Technologies, Inc. aka Homeland Resources Ltd, see Note 4, is currently traded on the OTC Expert Market. 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 September 30, 2021: SCHEDULE OF FAIR VALUE OF ASSETS AND LIABILITIES Total Level 1 Level 2 Level 4 Assets Investment securities 272,736 272,736 Investments 168,000 168,000 1 Total assets measured at fair value 440,736 Liabilities Derivative liability 447,605 447,605 Total liabilities measured at fair value 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 The following is a reconciliation of the derivative liability for which Level 3 inputs were used in determining the approximate fair value: SCHEDULE OF RECONCILIATION OF DERIVATIVE LIABILITY 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 Balance as of December 31, 2020 $ 834,230 Fair value of derivative liabilities 1,135,503 Loss on conversion (1,375,374 ) Gain (loss) on change in derivative liabilities (144,754 ) Balance as of September 30, 2021 $ 447,605 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 minimal 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 September 30, 2021 and December 31, 2020, the Company had not taken any significant uncertain tax positions on its tax returns for the period ended December 31, 2020 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, filed federal and state taxes in California, Illinois and Pennsylvania as required and brought the Company current in all regards in 2021. 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 September 30, 2021 and December 31, 2020 was $ 4,464 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 | 9 Months Ended |
Sep. 30, 2021 | |
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 ($ 9,084,212 ) as of September 30, 2021. The Company also had negative working capital of ($131,386) on September 30, 2021, and had operating losses of ($ 1,421,567 ) for the nine months ended September 30, 2021 and ( 1,636,719 ) for the year ended December 31, 2020, respectively. To date, these losses and deficiencies have been financed principally through the issuance of common stock, loans from related parties and loans 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 | 9 Months Ended |
Sep. 30, 2021 | |
Investments, Debt and Equity Securities [Abstract] | |
INVESTMENTS | Note 4 - INVESTMENTS During the year ended December 31, 2019, the Company issued 400,000 210,000,000 0.0023 483,000 0.0008 168,000 During the year ended December 31, 2019, the Company received 1,000,000 0.0001 On October 19, 2020, the Company acquired 100% 2,000,000 800,000 225,000 596,906 3 10 On February 12, 2021, we purchased 100.0% 250,000 2,500,000 242,500 On March 6, 2021, we purchased 100.0% 125,000 1,250,000 825,000 On May 18 2021, FOMO CORP. (“FOMO”) incorporated FOMO ADVISORS LLC, a Wyoming limited liability company, as a wholly owned public/private merchant banking subsidiary. FOMO ADVISORS LLC intends to assist private companies in accessing the capital markets through “pass through” investments that allow investors to gain liquidity from FOMO stock while benefiting from direct exposure to private company growth through derivative instruments or other rights. The subsidiary is engaging with strategic targets to introduce them to its network of financial and strategic contacts, provide them management consulting, and create a portfolio of technology investments for future incubation, capital formation, and wealth creation. An outline of FOMO’s plans is attached herein as Exhibit 10.1. The Company is currently evaluating its corporate development pipeline and has identified a number of candidates for this capital formation model, though there can be no assurances. On July 31, 2021, we sold our 50.0% 150,000 150,000,000 50 0.0001 |
LOANS PAYABLE DUE TO RELATED PA
LOANS PAYABLE DUE TO RELATED PARTIES | 9 Months Ended |
Sep. 30, 2021 | |
Debt Disclosure [Abstract] | |
LOANS PAYABLE DUE TO RELATED PARTIES | Note 5 – LOANS PAYABLE DUE TO RELATED PARTIES As of September 30, 2021, the Company subsidiary’s chief executive officer had an outstanding balance on a personal loan to us of $ 1,294 |
CONVERTIBLE NOTE PAYABLES
CONVERTIBLE NOTE PAYABLES | 9 Months Ended |
Sep. 30, 2021 | |
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% 12% 22% SCHEDULE OF CONVETIBLE NOTES OUTSTANDING Lender Origination Maturity Amount Interest Note GS Capital 1/20/2021 1/20/2022 95,000 10 % Note Power up Lending 4/8/2021 4/8/2022 53,750 12 % Note Power up Lending 5/10/2021 5/10/2022 103,500 12 % Note GS Capital 6/25/2021 6/25/2022 53,920 10 % Note Power up Lending 9/20/2021 9/20/2022 43,750 12 % Total $ 349,920 Less Discount - Net $ 349,920 During the year ended December 31, 2020, third-party lenders converted $ 809,292 2,936,347,316 During the nine months ended September 30, 2021, third-party lenders converted $ 6,076,589 1,409,831,125 The variables used for the Black-Scholes model are as listed below: SCHEDULE OF FAIR VALUE ASSUMPTION September 30, 2021 December 31, 2020 ● Volatility: 253 466 Volatility: 253 466 ● Risk free rate of return: 1.24 1.53 Risk free rate of return: 1.24 1.53 ● Expected term: 1 3 Expected term: 1 3 The Company amortized a debt discount of $ 0 63,350 On October 28, 2020, a third-party lender funded the Company $ 115,000 12% October 28, 2021 98,000 15,000 2,000 On January 20, 2021, a third-party lender funded the Company $ 205,000 10% January 20, 2022 180,000 20,000 5,000 On April 8, 2021, a third-party lender funded the Company $ 103,500 12% April 8, 2022 100,000 3,500 On May 10, 2021, a third-party lender funded the Company $ 53,750 12% May 10, 2022 50,000 3,750 On June 25, 2021, a third-party lender funded the Company $ 65,000 10% June 25, 2022 60,000 2,000 3,000 During the nine months ended September 30, 2021 third-party lenders converted $ 607,658 1,409,831,250 |
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 9 Months Ended |
Sep. 30, 2021 | |
Commitments and Contingencies Disclosure [Abstract] | |
COMMITMENTS AND CONTINGENCIES | Note 7 – COMMITMENTS AND CONTINGENCIES 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. There is no litigation outstanding as of September 30, 2021. |
INCOME TAXES
INCOME TAXES | 9 Months Ended |
Sep. 30, 2021 | |
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 September31, 2021 and December 31, 2020 will not be fully realizable. The Company is current with franchise tax board fees due to the State of California and in 2021 filed tax statements for the federal and state requirements (California, Illinois, Pennsylvania) for 2018 – 2019 - 2020. Today, the Company is current with its federal and state tax filings. |
WARRANTS AND OPTIONS
WARRANTS AND OPTIONS | 9 Months Ended |
Sep. 30, 2021 | |
Warrants And Options | |
WARRANTS AND OPTIONS | Note 9 – WARRANTS AND OPTIONS As of December 31, 2019, the Company had 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 328,571,428 warrants to a third-party lender for fees on a loan cost. 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 . On March 4, 2021, we issued Dilip Limaye 20,000,000 0.01 three-year On March 20, 2021 the Company issued 100,000,000 0.01 five-year On March 31, 2021 The Company issued 50,000,000 warrants with a strike price of $ 0.01 and a three-year expiration to Energy Intelligence as consideration on the asset purchase. On May 12, 2021, we issued John Conklin 20,000,000 0.01 three-year During the quarter ending September 40, 2021, the Company issued 110,000,000 During the quarter ending September 30, 2021, the Company issued 500,000,000 |
EQUITY
EQUITY | 9 Months Ended |
Sep. 30, 2021 | |
Equity [Abstract] | |
EQUITY | Note 10 – EQUITY Between January 1, 2020 and December 31, 2020, the Company issued to third-party lenders a total of 2,936,347,316 761,456 On January 8, 2020, a third-party lender converted $ 5,300 106,000,000 On February 3, 2020, a third-party lender converted $ 5,600 112,000,000 On February 5, 2020, a third-party lender converted $ 4,682 93,640,000 On February 18, 2020, a third-party lender converted $ 7,000 116,666,667 On August 26, 2020, the Company issued its CEO, Vikram Grover, 125,000 25,000 On August 27, 2020, a third-party lender converted $ 6,100 947.93 128,144,181 On August 31, 2020, a third-party lender converted $ 2,950 500 115,000,000 On September 3, 2020, the Company issued its CEO, Vikram Grover, 1,370,065 137,065 On September 4, 2020, a third-party lender converted $ 57.96 2,811.59 500 112,318,333 From September 10, 2020 through October 8, 2020, a third-party lender converted $ 25,000 611,005,229 On September 15, 2020, a third-party lender converted $ 5,069.54 1,689.85 135,187,800 On September 30, 2020, a third-party lender converted $ 20,229.66 6,743.22 179,819,200 On October 8, 2020, a third-party lender converted $ 21,239.12 7,079.71 188,792,200 On October 9, 2020, the Company issued its CEO, Vikram Grover, 93,750 37,500 On October 13, 2020, we amended the terms of our Series A Preferred Shares to include an annual dividend of $ 0.0035 a 1-50 conversion ratio and to vote on an as converted basis On October 20, 2020, a third-party lender converted $ 0 86.40 30,237.55 202,159,667 From January 1, 2020 through October 23, 2020, the Company issued 275,000 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 – 264,680,377 264,680,378 264,680,378 283,000 794,041,134 On November 2, 2020, a third-party lender converted $ 10,944.39 93.60 20,799.13 212,247,469 On October 28, 2020, a third-party lender funded the Company $ 115,000 98,000 10,000 5,000 2,000 On December 2, 2020, a third-party lender converted $ 55,709.65 222,838,600 On December 30, 2020, a third-party lender converted $ 12,000 25,000,000 On December 31, 2020, we issued a consultant 25,000 On January 1, 2021, the Company issued a consultant 25,000 On January 6, 2021, the Company issued 175,000 On January 6, 2021, the Company issued 175,000 On January 21, 2021 the Company issued a third-party lender 10,000,000 On February 11, 2021, the Company issued 100,000 On February 24, 2021, the Company issued 250,000 On February 27, 2021, the Company issued a consultant 300,000 During February 2021 the Company sold 2,750,000 275,000 These had 100% warrant coverage at .003. On March 1, 2021, the Company issued a consultant 6,250,000 On March 20, 2021, the Company issued 125,000 On March 31, 2021, the Company sold 65,000,000 250,000 During the three months ended March 31, 2021 third-party lenders converted $ 563,643 905,435,038 On April 9, 2021, the Company issued a consultant 6,250,000 On July 22, 2021, the Company issued 7,500,000 On August 30, 2021, the Company issued 25,000 25,000,000 On September 9, 2021, the Company issued 150,000 150,000,000 15,000 On September 25, 2021, the Company issued 25,000 25,000,000 During the quarter ending September 30, 2021, 260,000 260,000,000 During the quarter ending September, 2021, third-party lenders converted $ 121,080 504,396,087 During the quarter ending September 30, 2021 the Company sold 200,000,000 400,000 Business Development and Related On October 2, 2020, we issued the 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. On February, 11, 2021, the Company issued 100,000 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. 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 On June 22, 2021, Himalaya Technologies, Inc. a/k/a Homeland Resources Ltd. (OTC: HMLA) retained our merchant banking subsidiary FOMO ADVISORS LLC to advise on its restructuring and merger and acquisition activities. As part of the program, Himalaya Technologies issued us 50,000,000 0.0001 five-year On June 28, 2021, Himalaya Technologies, Inc. issued us 50,000,000 0.0001 five-year During June 2021, we entered into a Master Note with Himalaya Technologies, Inc. for up to $ 25,000 20.0% December 25, 2021 25,000 Warrants On October 28, 2020, the Company issued 328,571,428 five-year 0.0007 On November 3, 2020, the Company issued 10,000,000 three-year 0.001 On December 2, 2020, the Company reduced the exercise price on 10,000,000 0.01 0.001 On December 7, 2020, we issued Paul Benis, an Advisory Board member, 20,000,000 three-year 0.001 On December 31, 2020, we issued a consultant 25,000,000 three-year 0.001 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 three-year 0.001 On December 31, 2020, we issued Roderick Martin, CEO of AGILE Technologies Group, LLC, 20,000,000 three-year 0.01 On December 31, 2020, we issued AGILE Technologies Group, LLC, 100,000,000 three-year 0.001 500,000 1,000,000 On February 12, 2021, the Company issued 50,000,000 warrants to Energy Intelligence Center LLC as added incentive to purchase assets. On March 20, 2021 the Company issued 100,000,000 0.01 five-year On March 31, 2021 The Company issued 50,000,000 0.01 three-year On April 9, 2021, the Company issued a consultant 6,250,000 On April 24, 2021, the Company issued 2,300 On April 20, 2021, the Company issued 25,000 On April 8, 2021, a third-party lender funded the Company $ 103,500 22% April 8, 2022 100,000 3,500 On April 16, 2021, the Company extended the LOI’s to purchase Ecolite and PPE Source International LLC until July 1, 2021 On or around April 14, 2021, the Company signed an agreement to purchase 100% 5,000,000 On or around April 14, 2021, the Company signed an agreement to purchase 100% 7,000,000 On May 10, 2021, a third-party lender funded the Company $ 53,750 12% May 10, 2022 50,000 3,750 On June 25, 2021, a third-party lender funded the Company $ 65,000 10% June 25, 2022 60,000 2,000 3,000 During the quarter ending September 40, 2021, the Company issued 110,000,000 During the quarter ending September 30, 2021, the Company issued 50,000,000 |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 9 Months Ended |
Sep. 30, 2021 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | Note 11 – SUBSEQUENT EVENTS During the period since the balance sheet date, the third-party lenders have converted $ 173,500 263,940,227 On October 6, 2021 the Company issued 16,667 16,667,000 On October 20, 2021 the Company issued 25,000 25,000,000 |
SUMMARY OF SIGNIFICANT ACCOUN_2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 9 Months Ended |
Sep. 30, 2021 | |
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., IAQ Technologies LLC (formerly Purge Virus, LLC) and Energy Intelligence Center LLC. All material intercompany balances and transactions have been eliminated in consolidation. |
Cash | Cash Cash consists of deposits in one large national bank. On September 30, 2021 and December 31, 2020, respectively, the Company had $ 201,574 12,069 |
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. The Company’s investment in Himalaya Technologies, Inc. aka Homeland Resources Ltd, see Note 4, is currently traded on the OTC Expert Market. 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 September 30, 2021: SCHEDULE OF FAIR VALUE OF ASSETS AND LIABILITIES Total Level 1 Level 2 Level 4 Assets Investment securities 272,736 272,736 Investments 168,000 168,000 1 Total assets measured at fair value 440,736 Liabilities Derivative liability 447,605 447,605 Total liabilities measured at fair value 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 The following is a reconciliation of the derivative liability for which Level 3 inputs were used in determining the approximate fair value: SCHEDULE OF RECONCILIATION OF DERIVATIVE LIABILITY 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 Balance as of December 31, 2020 $ 834,230 Fair value of derivative liabilities 1,135,503 Loss on conversion (1,375,374 ) Gain (loss) on change in derivative liabilities (144,754 ) Balance as of September 30, 2021 $ 447,605 |
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 minimal 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. 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. |
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 September 30, 2021 and December 31, 2020, the Company had not taken any significant uncertain tax positions on its tax returns for the period ended December 31, 2020 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, filed federal and state taxes in California, Illinois and Pennsylvania as required and brought the Company current in all regards in 2021. 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 | 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 September 30, 2021 and December 31, 2020 was $ 4,464 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) | 9 Months Ended |
Sep. 30, 2021 | |
Accounting Policies [Abstract] | |
SCHEDULE OF FAIR VALUE OF ASSETS AND LIABILITIES | Assets and liabilities measured at fair value are as follows as of September 30, 2021: SCHEDULE OF FAIR VALUE OF ASSETS AND LIABILITIES Total Level 1 Level 2 Level 4 Assets Investment securities 272,736 272,736 Investments 168,000 168,000 1 Total assets measured at fair value 440,736 Liabilities Derivative liability 447,605 447,605 Total liabilities measured at fair value 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 |
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: SCHEDULE OF RECONCILIATION OF DERIVATIVE LIABILITY 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 Balance as of December 31, 2020 $ 834,230 Fair value of derivative liabilities 1,135,503 Loss on conversion (1,375,374 ) Gain (loss) on change in derivative liabilities (144,754 ) Balance as of September 30, 2021 $ 447,605 |
CONVERTIBLE NOTE PAYABLES (Tabl
CONVERTIBLE NOTE PAYABLES (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Debt Disclosure [Abstract] | |
SCHEDULE OF CONVETIBLE NOTES OUTSTANDING | SCHEDULE OF CONVETIBLE NOTES OUTSTANDING Lender Origination Maturity Amount Interest Note GS Capital 1/20/2021 1/20/2022 95,000 10 % Note Power up Lending 4/8/2021 4/8/2022 53,750 12 % Note Power up Lending 5/10/2021 5/10/2022 103,500 12 % Note GS Capital 6/25/2021 6/25/2022 53,920 10 % Note Power up Lending 9/20/2021 9/20/2022 43,750 12 % Total $ 349,920 Less Discount - Net $ 349,920 |
SCHEDULE OF FAIR VALUE ASSUMPTION | The variables used for the Black-Scholes model are as listed below: SCHEDULE OF FAIR VALUE ASSUMPTION September 30, 2021 December 31, 2020 ● Volatility: 253 466 Volatility: 253 466 ● Risk free rate of return: 1.24 1.53 Risk free rate of return: 1.24 1.53 ● Expected term: 1 3 Expected term: 1 3 |
BASIS OF PRESENTATION AND ORG_2
BASIS OF PRESENTATION AND ORGANIZATION (Details Narrative) - USD ($) | Dec. 31, 2020 | Mar. 06, 2019 | Sep. 30, 2021 |
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | |||
Number of warrants issued | 110,000,000 | ||
Vikram Grover [Member] | |||
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | |||
Officer's compensation | $ 12,500 | ||
Compensation payable in cash | $ 7,500 | $ 5,000 | |
Officer's compensation payable | $ 5,000 | ||
Number of warrants issued | 200,000,000 | 100,000,000 | |
Exercise price of warrants | $ 0.001 | $ 0.001 | |
Warrants expiration, term | 3 years | 3 years | |
Shares Issued, Price Per Share | $ 0.01 |
SCHEDULE OF FAIR VALUE OF ASSET
SCHEDULE OF FAIR VALUE OF ASSETS AND LIABILITIES (Details) - USD ($) | Sep. 30, 2021 | Dec. 31, 2020 |
Defined Benefit Plan Disclosure [Line Items] | ||
Investment securities | $ 272,736 | |
Investments | 168,000 | $ 168,000 |
Total assets measured at fair value | 440,736 | 168,000 |
Derivative liability | 447,605 | 834,230 |
Total liabilities measured at fair value | 834,230 | |
Fair Value, Inputs, Level 1 [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Investment securities | 272,736 | |
Investments | 168,000 | 168,000 |
Total assets measured at fair value | 440,736 | 168,000 |
Fair Value, Inputs, Level 2 [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Investments | 1 | |
Fair Value, Inputs, Level 3 [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Derivative liability | $ 447,605 | 834,230 |
Total liabilities measured at fair value | $ 834,230 |
SCHEDULE OF RECONCILIATION OF D
SCHEDULE OF RECONCILIATION OF DERIVATIVE LIABILITY (Details) - USD ($) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2021 | Dec. 31, 2020 | |
Accounting Policies [Abstract] | ||
Balance, beginning | $ 834,230 | $ 893,171 |
Fair value of derivative liabilities | 1,135,503 | 266,068 |
Loss on conversion | (1,375,374) | (483,793) |
Gain on change in derivative liabilities | (144,754) | 158,784 |
Balance, ending | $ 447,605 | $ 834,230 |
SUMMARY OF SIGNIFICANT ACCOUN_4
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($) | Sep. 30, 2021 | Dec. 31, 2020 |
Accounting Policies [Abstract] | ||
Cash | $ 201,574 | $ 12,069 |
Allowance for doubtful accounts | $ 4,464 | $ 0 |
GOING CONCERN (Details Narrativ
GOING CONCERN (Details Narrative) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||||
Sep. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |||||||||
Retained Earnings (Accumulated Deficit) | $ 9,084,212 | $ 9,084,212 | $ 7,662,645 | ||||||
WorkingCapital | (131,386) | (131,386) | |||||||
Net Income (Loss) Attributable to Parent | 215,046 | $ (1,182,709) | $ 2,389,230 | $ 331,751 | $ (154,333) | $ (359,710) | 1,421,567 | $ (154,333) | (1,636,719) |
Net Income (Loss) Attributable to Parent | $ (215,046) | $ 1,182,709 | $ (2,389,230) | $ (331,751) | $ 154,333 | $ 359,710 | $ (1,421,567) | $ 154,333 | $ 1,636,719 |
INVESTMENTS (Details Narrative)
INVESTMENTS (Details Narrative) - USD ($) | Sep. 30, 2021 | Sep. 25, 2021 | Sep. 09, 2021 | Aug. 30, 2021 | Jul. 31, 2021 | Apr. 24, 2021 | Apr. 20, 2021 | Mar. 06, 2021 | Feb. 24, 2021 | Feb. 12, 2021 | Feb. 11, 2021 | Oct. 19, 2020 | Sep. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Sep. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2020 |
Debt Securities, Available-for-sale [Line Items] | |||||||||||||||||||
Acquisition of goodwill | $ 596,906 | $ 596,906 | $ 596,906 | ||||||||||||||||
Stock Issued During Period, Value, Purchase of Assets | $ 925,000 | ||||||||||||||||||
Common Stock [Member] | |||||||||||||||||||
Debt Securities, Available-for-sale [Line Items] | |||||||||||||||||||
Shares issued | 200,000,000 | 75,000,000 | 65,000,000 | ||||||||||||||||
Stock Issued During Period, Value, Purchase of Assets | |||||||||||||||||||
Stock Issued During Period, Shares, Conversion of Convertible Securities | 504,396,087 | 905,435,038 | 6,704,695,141 | 428,306,667 | |||||||||||||||
Mobicard Inc [Member] | |||||||||||||||||||
Debt Securities, Available-for-sale [Line Items] | |||||||||||||||||||
Number of shares exchanged | 210,000,000 | ||||||||||||||||||
Share price | $ 0.0008 | $ 0.0023 | |||||||||||||||||
Investment amount | $ 168,000 | $ 483,000 | |||||||||||||||||
Kanab Corp [Member] | |||||||||||||||||||
Debt Securities, Available-for-sale [Line Items] | |||||||||||||||||||
Share price | $ 0.0001 | ||||||||||||||||||
Number of shares received for services | 1,000,000 | ||||||||||||||||||
Ownership interest percentage | 50.00% | ||||||||||||||||||
Kanab Corp [Member] | Common Stock [Member] | |||||||||||||||||||
Debt Securities, Available-for-sale [Line Items] | |||||||||||||||||||
Stock Issued During Period, Shares, Conversion of Convertible Securities | 150,000,000 | ||||||||||||||||||
Purge Virus LLC [Member] | |||||||||||||||||||
Debt Securities, Available-for-sale [Line Items] | |||||||||||||||||||
Ownership interest percentage | 100.00% | ||||||||||||||||||
Independence LED Lighting LLC [Member] | |||||||||||||||||||
Debt Securities, Available-for-sale [Line Items] | |||||||||||||||||||
Asset purchased percentage | 100.00% | ||||||||||||||||||
Energy Intelligencer Center LLC [Member] | |||||||||||||||||||
Debt Securities, Available-for-sale [Line Items] | |||||||||||||||||||
Asset purchased percentage | 100.00% | ||||||||||||||||||
FOMO ADVISORS LLC [Member] | |||||||||||||||||||
Debt Securities, Available-for-sale [Line Items] | |||||||||||||||||||
Shares issued | 50,000,000 | ||||||||||||||||||
Shares issued price, per share | $ 0.0001 | ||||||||||||||||||
Preferred Class B [Member] | |||||||||||||||||||
Debt Securities, Available-for-sale [Line Items] | |||||||||||||||||||
Shares issued | 400,000 | ||||||||||||||||||
Series B Preferred Stock [Member] | |||||||||||||||||||
Debt Securities, Available-for-sale [Line Items] | |||||||||||||||||||
Shares issued | 260,000 | 25,000 | 150,000 | 25,000 | 2,300 | 100,000 | |||||||||||||
Series B Preferred Stock [Member] | Purge Virus LLC [Member] | |||||||||||||||||||
Debt Securities, Available-for-sale [Line Items] | |||||||||||||||||||
Number of shares issued for consideration | 2,000,000 | ||||||||||||||||||
Number of shares issued for consideration, value | $ 800,000 | ||||||||||||||||||
Series B Preferred Stock [Member] | Kanab Corp [Member] | |||||||||||||||||||
Debt Securities, Available-for-sale [Line Items] | |||||||||||||||||||
Shares issued | 25,000 | ||||||||||||||||||
Stock Issued During Period, Shares, Conversion of Convertible Securities | 150,000 | ||||||||||||||||||
Series B Preferred Stock [Member] | Purge Virus LLC [Member] | |||||||||||||||||||
Debt Securities, Available-for-sale [Line Items] | |||||||||||||||||||
Acquisition of intangible assets | 225,000 | ||||||||||||||||||
Acquisition of goodwill | $ 596,906 | ||||||||||||||||||
Series B Preferred Stock [Member] | Purge Virus LLC [Member] | Minimum [Member] | |||||||||||||||||||
Debt Securities, Available-for-sale [Line Items] | |||||||||||||||||||
Acquisition of intangible assets useful lives | 3 years | ||||||||||||||||||
Series B Preferred Stock [Member] | Purge Virus LLC [Member] | Maximum [Member] | |||||||||||||||||||
Debt Securities, Available-for-sale [Line Items] | |||||||||||||||||||
Acquisition of intangible assets useful lives | 10 years | ||||||||||||||||||
Series B Preferred Stock [Member] | Independence LED Lighting LLC [Member] | |||||||||||||||||||
Debt Securities, Available-for-sale [Line Items] | |||||||||||||||||||
Shares issued | 250,000 | ||||||||||||||||||
Stock Issued During Period, Shares, Purchase of Assets | 250,000 | ||||||||||||||||||
Stock Issued During Period, Value, Purchase of Assets | $ 2,500,000 | ||||||||||||||||||
Asset Acquisition, Consideration Transferred | $ 242,500 | ||||||||||||||||||
Series B Preferred Stock [Member] | Energy Intelligencer Center LLC [Member] | |||||||||||||||||||
Debt Securities, Available-for-sale [Line Items] | |||||||||||||||||||
Stock Issued During Period, Shares, Purchase of Assets | 125,000 | ||||||||||||||||||
Stock Issued During Period, Value, Purchase of Assets | $ 1,250,000 | ||||||||||||||||||
Asset Acquisition, Consideration Transferred | $ 825,000 |
LOANS PAYABLE DUE TO RELATED _2
LOANS PAYABLE DUE TO RELATED PARTIES (Details Narrative) | Sep. 30, 2021USD ($) |
Debt Disclosure [Abstract] | |
Loans Payable | $ 1,294 |
SCHEDULE OF CONVETIBLE NOTES OU
SCHEDULE OF CONVETIBLE NOTES OUTSTANDING (Details) | 9 Months Ended |
Sep. 30, 2021USD ($) | |
Short-term Debt [Line Items] | |
Net | $ 349,920 |
Total | |
less discount | $ 349,920 |
Convertible Notes Payable [Member] | |
Short-term Debt [Line Items] | |
[custom:DescriptionOnLenderName] | GS Capital |
Origination Date | Jan. 20, 2021 |
Maturity | Jan. 20, 2022 |
Net | $ 95,000 |
Debt Instrument, Interest Rate, Stated Percentage | 10.00% |
Convertible Notes Payable One [Member] | |
Short-term Debt [Line Items] | |
[custom:DescriptionOnLenderName] | Power up Lending |
Origination Date | Apr. 8, 2021 |
Maturity | Apr. 8, 2022 |
Net | $ 53,750 |
Debt Instrument, Interest Rate, Stated Percentage | 12.00% |
Convertible Notes Payable Two [Member] | |
Short-term Debt [Line Items] | |
[custom:DescriptionOnLenderName] | Power up Lending |
Origination Date | May 10, 2021 |
Maturity | May 10, 2022 |
Net | $ 103,500 |
Debt Instrument, Interest Rate, Stated Percentage | 12.00% |
Convertible Notes Payable Three [Member] | |
Short-term Debt [Line Items] | |
[custom:DescriptionOnLenderName] | GS Capital |
Origination Date | Jun. 25, 2021 |
Maturity | Jun. 25, 2022 |
Net | $ 53,920 |
Debt Instrument, Interest Rate, Stated Percentage | 10.00% |
Convertible Notes Payable Four [Member] | |
Short-term Debt [Line Items] | |
[custom:DescriptionOnLenderName] | Power up Lending |
Origination Date | Sep. 20, 2021 |
Maturity | Sep. 20, 2022 |
Net | $ 43,750 |
Debt Instrument, Interest Rate, Stated Percentage | 12.00% |
SCHEDULE OF FAIR VALUE ASSUMPTI
SCHEDULE OF FAIR VALUE ASSUMPTION (Details) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2021 | Dec. 31, 2020 | |
Minimum [Member] | ||
Debt Instrument [Line Items] | ||
Expected term | 1 year | 1 year |
Minimum [Member] | Measurement Input, Price Volatility [Member] | ||
Debt Instrument [Line Items] | ||
Fair value assumptions, measurement input, percentage | 253 | 253 |
Minimum [Member] | Measurement Input, Risk Free Interest Rate [Member] | ||
Debt Instrument [Line Items] | ||
Fair value assumptions, measurement input, percentage | 1.24 | 1.24 |
Maximum [Member] | ||
Debt Instrument [Line Items] | ||
Expected term | 3 years | 3 years |
Maximum [Member] | Measurement Input, Price Volatility [Member] | ||
Debt Instrument [Line Items] | ||
Fair value assumptions, measurement input, percentage | 466 | 466 |
Maximum [Member] | Measurement Input, Risk Free Interest Rate [Member] | ||
Debt Instrument [Line Items] | ||
Fair value assumptions, measurement input, percentage | 1.53 | 1.53 |
CONVERTIBLE NOTE PAYABLES (Deta
CONVERTIBLE NOTE PAYABLES (Details Narrative) - USD ($) | Sep. 30, 2021 | Jun. 25, 2021 | May 10, 2021 | Apr. 08, 2021 | Jan. 20, 2021 | Dec. 30, 2020 | Dec. 02, 2020 | Nov. 02, 2020 | Oct. 28, 2020 | Oct. 28, 2020 | Oct. 20, 2020 | Oct. 08, 2020 | Sep. 30, 2020 | Sep. 15, 2020 | Sep. 04, 2020 | Feb. 18, 2020 | Feb. 05, 2020 | Feb. 03, 2020 | Jan. 08, 2020 | Oct. 08, 2020 | Mar. 31, 2021 | Sep. 30, 2021 | Dec. 31, 2020 | Aug. 31, 2020 | Aug. 27, 2020 |
Convertible Notes Payable [Member] | |||||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||||
Debt instrument interest rate | 10.00% | 10.00% | |||||||||||||||||||||||
Amortized of debt discount | $ 0 | $ 63,350 | |||||||||||||||||||||||
Debt instrument, maturity date | Jan. 20, 2022 | ||||||||||||||||||||||||
Third Parties [Member] | |||||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||||
Debt instrument interest rate | 22.00% | 22.00% | |||||||||||||||||||||||
Debt conversion shares issued, value | $ 6,076,589 | $ 809,292 | |||||||||||||||||||||||
Debt conversion shares issued | 1,409,831,125 | 2,936,347,316 | |||||||||||||||||||||||
Third Party Lender [Member] | |||||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||||
Debt instrument interest rate | 10.00% | 12.00% | 12.00% | 10.00% | 12.00% | 12.00% | |||||||||||||||||||
Debt conversion shares issued, value | $ 121,080 | $ 12,000 | $ 10,944.39 | $ 7,000 | $ 4,682 | $ 5,600 | $ 5,300 | $ 563,643 | $ 607,658 | $ 761,456 | |||||||||||||||
Debt conversion shares issued | 504,396,087 | 25,000,000 | 222,838,600 | 202,159,667 | 188,792,200 | 179,819,200 | 135,187,800 | 112,318,333 | 116,666,667 | 93,640,000 | 112,000,000 | 106,000,000 | 611,005,229 | 905,435,038 | 1,409,831,250 | 2,936,347,316 | |||||||||
Amortized of debt discount | $ 2,000 | $ 20,000 | $ 15,000 | $ 10,000 | |||||||||||||||||||||
Debt instrument, face amount | $ 65,000 | $ 53,750 | $ 103,500 | $ 205,000 | $ 115,000 | 115,000 | $ 0 | $ 21,239.12 | $ 20,229.66 | $ 5,069.54 | $ 57.96 | $ 21,239.12 | $ 2,950 | $ 6,100 | |||||||||||
Debt instrument, maturity date | Jun. 25, 2022 | May 10, 2022 | Apr. 8, 2022 | Jan. 20, 2022 | Oct. 28, 2021 | ||||||||||||||||||||
Proceeds from convertible debt | $ 60,000 | $ 50,000 | $ 100,000 | $ 180,000 | $ 98,000 | 98,000 | |||||||||||||||||||
Placement agent and loan fees | $ 3,000 | $ 3,750 | $ 3,500 | $ 5,000 | $ 2,000 | $ 5,000 | |||||||||||||||||||
Minimum [Member] | Third Parties [Member] | |||||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||||
Debt instrument interest rate | 10.00% | 10.00% | |||||||||||||||||||||||
Maximum [Member] | Third Parties [Member] | |||||||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||||||
Debt instrument interest rate | 12.00% | 12.00% |
WARRANTS AND OPTIONS (Details N
WARRANTS AND OPTIONS (Details Narrative) - USD ($) | 9 Months Ended | 12 Months Ended | ||||||
Sep. 30, 2021 | Dec. 31, 2020 | May 12, 2021 | Mar. 31, 2021 | Mar. 20, 2021 | Mar. 04, 2021 | Oct. 28, 2020 | Dec. 31, 2019 | |
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | ||||||||
Number of common stock purchase warrants shares | 110,000,000 | |||||||
Warrants and Rights Outstanding | $ 844,754 | $ 16,803 | ||||||
Class of Warrant or Right, Outstanding | 713,571,428 | |||||||
Warrant weighted average life | 3 years 10 months 13 days | |||||||
Warrant intrinsic value | $ 844,754 | |||||||
Warrants issued for services | 110,000,000 | |||||||
EDGE Fiber Ne tInc [Member] | ||||||||
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | ||||||||
Number of common stock purchase warrants shares | 10,000,000,000,000 | |||||||
Warrant strike price per share | $ 0.005 | |||||||
Warrants term | 3 years | |||||||
Online Energy Manager [Member] | ||||||||
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | ||||||||
Number of common stock purchase warrants shares | 100,000,000 | |||||||
Warrant strike price per share | $ 0.01 | |||||||
Warrants term | 5 years | |||||||
Energy Intelligence [Member] | ||||||||
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | ||||||||
Number of common stock purchase warrants shares | 50,000,000 | |||||||
Warrant strike price per share | $ 0.01 | |||||||
Warrants term | 3 years | |||||||
Three Members Advisory Board [Member] | ||||||||
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | ||||||||
Number of common stock purchase warrants shares | 50,000,000,000,000 | |||||||
Warrant strike price per share | $ 0.001 | |||||||
Warrants term | 3 years | |||||||
Third-Party Lender [Member] | ||||||||
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | ||||||||
Number of common stock purchase warrants shares | 328,571,428 | |||||||
Warrant strike price per share | $ 0.0007 | |||||||
Warrants term | 5 years | |||||||
Dilip Limaye [Member] | ||||||||
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | ||||||||
Number of common stock purchase warrants shares | 20,000,000 | |||||||
Warrant strike price per share | $ 0.01 | |||||||
Warrants term | 3 years | |||||||
John Conklin [Member] | ||||||||
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | ||||||||
Number of common stock purchase warrants shares | 20,000,000 | |||||||
Warrant strike price per share | $ 0.01 | |||||||
Warrants term | 3 years | |||||||
Third Party Lender [Member] | ||||||||
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | ||||||||
Number of common stock purchase warrants shares | 50,000,000 | 328,571,428 | ||||||
Warrants issued for services | 500,000,000 |
EQUITY (Details Narrative)
EQUITY (Details Narrative) - USD ($) | Sep. 30, 2021 | Sep. 25, 2021 | Sep. 09, 2021 | Aug. 30, 2021 | Jul. 31, 2021 | Jul. 22, 2021 | Jun. 25, 2021 | May 10, 2021 | Apr. 24, 2021 | Apr. 20, 2021 | Apr. 14, 2021 | Apr. 09, 2021 | Apr. 08, 2021 | Mar. 31, 2021 | Mar. 20, 2021 | Mar. 02, 2021 | Feb. 27, 2021 | Feb. 24, 2021 | Feb. 11, 2021 | Jan. 21, 2021 | Jan. 20, 2021 | Jan. 02, 2021 | Dec. 30, 2020 | Dec. 02, 2020 | Dec. 02, 2020 | Nov. 02, 2020 | Nov. 02, 2020 | Oct. 28, 2020 | Oct. 28, 2020 | Oct. 20, 2020 | Oct. 19, 2020 | Oct. 13, 2020 | Oct. 09, 2020 | Oct. 08, 2020 | Oct. 02, 2020 | Sep. 30, 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 | Jun. 30, 2021 | Feb. 28, 2021 | Nov. 30, 2020 | Oct. 08, 2020 | Nov. 30, 2019 | Sep. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Sep. 30, 2021 | Oct. 23, 2020 | Dec. 31, 2020 | Jun. 28, 2021 | Jun. 22, 2021 | Feb. 12, 2021 | Jan. 06, 2021 | Dec. 07, 2020 | Nov. 03, 2020 | Jun. 04, 2020 | Mar. 06, 2019 |
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Annual dividend in cash or in kind | $ 0.0035 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock voting rights | a 1-50 conversion ratio and to vote on an as converted basis | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of common stock purchase warrants shares | 110,000,000 | 110,000,000 | 110,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of shares issued, value | $ 400,000 | $ 176,000 | $ 250,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Himalaya Technologies [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of common stock purchase warrants shares | 50,000,000 | 50,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrant strike price per share | $ 0.0001 | $ 0.0001 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants term | 5 years | 5 years | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Paycheck Protection Program [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Note payable | $ 11,593 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Line of Credit [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of shares issued | 65,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of shares issued, value | $ 250,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Auctus Fund, LLC [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest and penalties | $ 283,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of shares issued for settlement of debt | 264,680,378 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Energy Intelligence Center LLC [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of common stock purchase warrants shares | 50,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Purge Virus LLC [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants vested value | $ 500,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[custom:CumulativeDisinfectionSale-0] | $ 1,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ownership interest percentage | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Himalaya Technologies [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument face amount | $ 25,000 | $ 25,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt interest | $ 25,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument interest rate | 20.00% | 20.00% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | Dec. 25, 2021 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
AGILE Technologies Group, LLC [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of common stock purchase warrants shares | 100,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrant strike price per share | $ 0.001 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants term | 3 years | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Online Energy Manager [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of common stock purchase warrants shares | 100,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrant strike price per share | $ 0.01 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants term | 5 years | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Energy Intelligence [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of common stock purchase warrants shares | 50,000,000 | 50,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrant strike price per share | $ 0.01 | $ 0.01 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants term | 3 years | 3 years | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Kanab Corp [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ownership interest percentage | 50.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Series B Preferred Stock [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of shares issued | 260,000 | 25,000 | 150,000 | 25,000 | 2,300 | 100,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, shares issued | 25,000 | 25,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Series B Preferred Stock [Member] | Smart Guard [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, shares issued | 175,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of common stock purchase warrants shares | 175,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Series B Preferred Stock [Member] | PVBJ [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of shares issued | 100,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Series B Preferred Stock [Member] | Independence LED Lighting LLC [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of shares issued | 250,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Series B Preferred Stock [Member] | Energy Intelligence Center LLC [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of shares issued | 125,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Series B Preferred Stock [Member] | Kanab Corp [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of shares issued | 25,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of shares issued for settlement of debt | 150,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Series B Preferred Stock [Member] | Lux Solutions LLC [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ownership interest percentage | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Payments to acquire business gross | $ 5,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Series B Preferred Stock [Member] | Led IV Funding LLC [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ownership interest percentage | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Payments to acquire business gross | $ 7,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Restricted Series B Preferred Shares [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of shares issued | 275,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Restricted Series B Preferred Shares [Member] | Source International LLC [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ownership percentage description | we issued the 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. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Restricted Series B Preferred Shares [Member] | Purge Virus LLC [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Series A Preferred Stock [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of shares issued | 2,750,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of shares issued, value | $ 275,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrant. description | These had 100% warrant coverage at .003. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Third Party Lender [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion shares issued | 504,396,087 | 25,000,000 | 222,838,600 | 202,159,667 | 188,792,200 | 179,819,200 | 135,187,800 | 112,318,333 | 116,666,667 | 93,640,000 | 112,000,000 | 106,000,000 | 611,005,229 | 905,435,038 | 1,409,831,250 | 2,936,347,316 | |||||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion shares issued, value | $ 121,080 | $ 12,000 | $ 10,944.39 | $ 7,000 | $ 4,682 | $ 5,600 | $ 5,300 | $ 563,643 | $ 607,658 | $ 761,456 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument face amount | $ 65,000 | $ 53,750 | $ 103,500 | $ 205,000 | $ 115,000 | $ 115,000 | $ 0 | $ 21,239.12 | $ 20,229.66 | $ 5,069.54 | $ 57.96 | $ 2,950 | $ 6,100 | $ 21,239.12 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Debt interest | 93.60 | 86.40 | $ 7,079.71 | $ 6,743.22 | $ 1,689.85 | 2,811.59 | $ 947.93 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument, fee amount | 3,000 | 3,750 | 3,500 | $ 500 | $ 500 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Conversion of warrants | $ 25,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest and penalties | $ 55,709.65 | $ 20,799.13 | $ 30,237.55 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of shares issued | 10,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of shares issued for settlement of debt | 264,680,378 | 264,680,377 | 212,247,469 | 794,041,134 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from convertible debt | 60,000 | 50,000 | 100,000 | 180,000 | 98,000 | 98,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amortized of debt discount | 2,000 | 20,000 | 15,000 | 10,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Legal fees and due diligence expenses | $ 3,000 | $ 3,750 | $ 3,500 | $ 5,000 | $ 2,000 | 5,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Broker fees | $ 2,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of common stock purchase warrants shares | 50,000,000 | 328,571,428 | 328,571,428 | 50,000,000 | 50,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument interest rate | 10.00% | 12.00% | 12.00% | 10.00% | 12.00% | 12.00% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturity | Jun. 25, 2022 | May 10, 2022 | Apr. 8, 2022 | Jan. 20, 2022 | Oct. 28, 2021 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Original issue discount | $ 2,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Third Party Lender [Member] | Warrant [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt instrument interest rate | 22.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Third Party Lender [Member] | Restricted Common Share [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion shares issued | 115,000,000 | 128,144,181 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Vikram Grover [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for accrued compensation, shares | 93,750 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for accrued compensation | $ 37,500 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of common stock purchase warrants shares | 200,000,000 | 100,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrant strike price per share | $ 0.001 | $ 0.001 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants term | 3 years | 3 years | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Vikram Grover [Member] | Series B Preferred Stock [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for accrued compensation, shares | 125,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for accrued compensation | $ 25,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Vikram Grover [Member] | Restricted Series B Preferred Shares [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for accrued compensation, shares | 1,370,065 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for accrued compensation | $ 137,065 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Consultants [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of shares issued | 7,500,000 | 6,250,000 | 6,250,000 | 300,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Consultants [Member] | Series B Preferred Stock [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of shares issued, value | $ 15,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Conversion of stock, shares issued | 260,000,000 | 25,000,000 | 150,000,000 | 25,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Institutional Investor [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of shares issued | 200,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of shares issued, value | $ 400,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Third-Party Lender [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion shares issued | 263,940,227 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt conversion shares issued, value | $ 173,500 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of common stock purchase warrants shares | 328,571,428 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrant strike price per share | $ 0.0007 | $ 0.0007 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants term | 5 years | 5 years | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Consultant [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of common stock purchase warrants shares | 6,250,000 | 25,000,000 | 10,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrant strike price per share | $ 0.001 | $ 0.001 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants term | 3 years | 3 years | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Advisory Board [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of common stock purchase warrants shares | 10,000,000 | 10,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Advisory Board [Member] | Minimum [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, par value | $ 0.01 | $ 0.01 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Advisory Board [Member] | Maximum [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock, par value | $ 0.001 | $ 0.001 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Paul Benis [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of common stock purchase warrants shares | 20,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrant strike price per share | $ 0.001 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants term | 3 years | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Roderick Martin [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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) - USD ($) | Oct. 20, 2021 | Oct. 06, 2021 | Sep. 30, 2021 |
Subsequent Event [Member] | Series B Preferred Stock [Member] | |||
Subsequent Event [Line Items] | |||
Debt conversion converted instrument amount | $ 25,000 | $ 16,667 | |
Conversion of Stock, Shares Issued | 25,000,000 | 16,667,000 | |
Third-Party Lender [Member] | |||
Subsequent Event [Line Items] | |||
Debt conversion converted instrument amount | $ 173,500 | ||
Debt conversion converted, shares | 263,940,227 |