Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Sep. 30, 2021 | Nov. 18, 2021 | |
Details | ||
Registrant CIK | 0000894560 | |
Fiscal Year End | --12-31 | |
Registrant Name | BIOETHICS, LTD. | |
SEC Form | 10-Q | |
Period End date | Sep. 30, 2021 | |
Tax Identification Number (TIN) | 87-0485312 | |
Number of common stock shares outstanding | 1,135,194 | |
Filer Category | Non-accelerated Filer | |
Current with reporting | Yes | |
Interactive Data Current | Yes | |
Shell Company | true | |
Small Business | true | |
Emerging Growth Company | false | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Entity File Number | 33-55254-41 | |
Entity Incorporation, State or Country Code | NV | |
Entity Address, Address Line One | 1661 Lakeview Circle | |
Entity Address, City or Town | Ogden | |
Entity Address, State or Province | UT | |
Entity Address, Postal Zip Code | 84403 | |
Country Region | 801 | |
City Area Code | 399 | |
Local Phone Number | 3632 | |
Amendment Flag | false | |
Document Fiscal Year Focus | 2021 | |
Document Fiscal Period Focus | Q3 |
Balance Sheets
Balance Sheets - USD ($) | Sep. 30, 2021 | Dec. 31, 2020 |
CURRENT ASSETS | ||
Cash and cash equivalents | $ 554 | $ 667 |
Total Current Assets | 554 | 667 |
FIXED ASSETS, NET | 12 | 226 |
TOTAL ASSETS | 566 | 893 |
CURRENT LIABILITIES | ||
Accounts payable | 75,929 | 53,943 |
Accounts payable - related party | 6,000 | 1,500 |
Accrued interest - related parties | 39,473 | 20,561 |
Accrued interest | 53,574 | 38,503 |
Convertible notes payable, net of unamortized debt discount of $-0- and $2,718, respectively | 35,000 | 32,282 |
Notes payable | 150,000 | 150,000 |
Notes payable - related parties | 203,084 | 182,834 |
Total Current Liabilities | 563,060 | 479,623 |
TOTAL LIABILITIES | 563,060 | 479,623 |
STOCKHOLDERS' DEFICIT | ||
Preferred stock, $0.01 par value; 25,000,000 shares authorized, -0- shares issued and outstanding | 0 | 0 |
Common stock, $0.001 par value; 250,000,000 shares authorized, 1,135,194 shares issued and outstanding | 1,135 | 1,135 |
Additional paid-in capital | 500,479 | 500,479 |
Accumulated deficit | (1,064,108) | (980,344) |
Total Stockholders' Deficit | (562,494) | (478,730) |
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT | $ 566 | $ 893 |
Balance Sheets - Parenthetical
Balance Sheets - Parenthetical - USD ($) | Sep. 30, 2021 | Dec. 31, 2020 |
Details | ||
Debt Instrument, Unamortized Discount | $ 0 | $ 2,718 |
Preferred Stock, Par or Stated Value Per Share | $ 0.01 | $ 0.01 |
Preferred Stock, Shares Authorized | 25,000,000 | 25,000,000 |
Preferred Stock, Shares Issued | 0 | 0 |
Preferred Stock, Shares Outstanding | 0 | 0 |
Common Stock, Par or Stated Value Per Share | $ 0.001 | $ 0.001 |
Common Stock, Shares Authorized | 250,000,000 | 250,000,000 |
Common Stock, Shares, Issued | 1,135,194 | 1,135,194 |
Common Stock, Shares, Outstanding | 1,135,194 | 1,135,194 |
Statements of Operations
Statements of Operations - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Details | ||||
NET REVENUES | $ 0 | $ 0 | $ 0 | $ 0 |
OPERATING EXPENSES | ||||
General and administrative | 14,873 | 12,922 | 47,063 | 55,894 |
Total Operating Expenses | 14,873 | 12,922 | 47,063 | 55,894 |
LOSS FROM OPERATIONS | (14,873) | (12,922) | (47,063) | (55,894) |
OTHER INCOME (EXPENSES) | ||||
Interest expense | (10,833) | (11,130) | (36,701) | (32,529) |
Total Other Income (Expenses) | (10,833) | (11,130) | (36,701) | (32,529) |
NET LOSS BEFORE INCOME TAXES | (25,706) | (24,052) | (83,764) | (88,423) |
PROVISION FOR INCOME TAXES | 0 | 0 | 0 | 0 |
NET LOSS | $ (25,706) | $ (24,052) | $ (83,764) | $ (88,423) |
BASIC AND DILUTED LOSS PER SHARE | $ (0.02) | $ (0.02) | $ (0.07) | $ (0.08) |
SHARES OUTSTANDING | 1,135,194 | 1,135,194 | 1,135,194 | 1,135,194 |
Statements of Stockholders' Equ
Statements of Stockholders' Equity (Deficit) - USD ($) | Common Stock | Additional Paid-in Capital | Retained Earnings | Total |
Stockholders' Equity Attributable to Parent, Beginning Balance at Dec. 31, 2019 | $ 1,135 | $ 494,279 | $ (861,153) | $ (365,739) |
Shares, Outstanding, Beginning Balance at Dec. 31, 2019 | 1,135,194 | |||
NET LOSS | $ 0 | 0 | (36,657) | (36,657) |
Stockholders' Equity Attributable to Parent, Ending Balance at Mar. 31, 2020 | $ 1,135 | 494,279 | (897,810) | (402,396) |
Shares, Outstanding, Ending Balance at Mar. 31, 2020 | 1,135,194 | |||
Stockholders' Equity Attributable to Parent, Beginning Balance at Dec. 31, 2019 | $ 1,135 | 494,279 | (861,153) | (365,739) |
Shares, Outstanding, Beginning Balance at Dec. 31, 2019 | 1,135,194 | |||
NET LOSS | (88,423) | |||
Stockholders' Equity Attributable to Parent, Ending Balance at Sep. 30, 2020 | $ 1,135 | 500,479 | (949,576) | (447,962) |
Shares, Outstanding, Ending Balance at Sep. 30, 2020 | 1,135,194 | |||
Beneficial conversion feature on convertible notes payable | 6,200 | |||
Stockholders' Equity Attributable to Parent, Beginning Balance at Mar. 31, 2020 | $ 1,135 | 494,279 | (897,810) | (402,396) |
Shares, Outstanding, Beginning Balance at Mar. 31, 2020 | 1,135,194 | |||
NET LOSS | $ 0 | 0 | (27,714) | (27,714) |
Stockholders' Equity Attributable to Parent, Ending Balance at Jun. 30, 2020 | $ 1,135 | 500,479 | (925,524) | (423,910) |
Shares, Outstanding, Ending Balance at Jun. 30, 2020 | 1,135,194 | |||
Beneficial conversion feature on convertible notes payable | $ 0 | 6,200 | 0 | 6,200 |
NET LOSS | 0 | 0 | (24,052) | (24,052) |
Stockholders' Equity Attributable to Parent, Ending Balance at Sep. 30, 2020 | $ 1,135 | 500,479 | (949,576) | (447,962) |
Shares, Outstanding, Ending Balance at Sep. 30, 2020 | 1,135,194 | |||
Stockholders' Equity Attributable to Parent, Beginning Balance at Dec. 31, 2020 | $ 1,135 | 500,479 | (980,344) | (478,730) |
Shares, Outstanding, Beginning Balance at Dec. 31, 2020 | 1,135,194 | |||
NET LOSS | $ 0 | 0 | (28,175) | (28,175) |
Stockholders' Equity Attributable to Parent, Ending Balance at Mar. 31, 2021 | $ 1,135 | 500,479 | (1,008,519) | (506,905) |
Shares, Outstanding, Ending Balance at Mar. 31, 2021 | 1,135,194 | |||
Stockholders' Equity Attributable to Parent, Beginning Balance at Dec. 31, 2020 | $ 1,135 | 500,479 | (980,344) | (478,730) |
Shares, Outstanding, Beginning Balance at Dec. 31, 2020 | 1,135,194 | |||
NET LOSS | (83,764) | |||
Stockholders' Equity Attributable to Parent, Ending Balance at Sep. 30, 2021 | $ 1,135 | 500,479 | (1,064,108) | (562,494) |
Shares, Outstanding, Ending Balance at Sep. 30, 2021 | 1,135,194 | |||
Beneficial conversion feature on convertible notes payable | 0 | |||
Stockholders' Equity Attributable to Parent, Beginning Balance at Mar. 31, 2021 | $ 1,135 | 500,479 | (1,008,519) | (506,905) |
Shares, Outstanding, Beginning Balance at Mar. 31, 2021 | 1,135,194 | |||
NET LOSS | $ 0 | 0 | (29,883) | (29,883) |
Stockholders' Equity Attributable to Parent, Ending Balance at Jun. 30, 2021 | $ 1,135 | 500,479 | (1,038,402) | (536,788) |
Shares, Outstanding, Ending Balance at Jun. 30, 2021 | 1,135,194 | |||
NET LOSS | $ 0 | 0 | (25,706) | (25,706) |
Stockholders' Equity Attributable to Parent, Ending Balance at Sep. 30, 2021 | $ 1,135 | $ 500,479 | $ (1,064,108) | $ (562,494) |
Shares, Outstanding, Ending Balance at Sep. 30, 2021 | 1,135,194 |
Statements of Cash Flows
Statements of Cash Flows - USD ($) | 9 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net loss | $ (83,764) | $ (88,423) |
used by operating activities: | ||
Amortization of debt discount | 2,718 | 5,635 |
Depreciation | 214 | 214 |
Changes in operating assets and liabilities: | ||
Accounts payable | 21,986 | 11,588 |
Accounts payable - related party | 4,500 | (1,500) |
Accrued interest - related parties | 18,912 | 3,304 |
Accrued interest | 15,071 | 13,590 |
Net Cash Used by Operating Activities | (20,363) | (55,592) |
CASH FLOWS FROM INVESTING ACTIVITIES | 0 | 0 |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Proceeds from convertible notes payable | 0 | 25,000 |
Proceeds from notes payable | 0 | 5,000 |
Proceeds from notes payable - related parties | 20,250 | 23,900 |
Repayment of notes payable - related parties | 0 | (6,000) |
Net Cash Provided by Financing Activities | 20,250 | 47,900 |
DECREASE IN CASH AND CASH EQUIVALENTS | (113) | (7,692) |
BEGINNING OF PERIOD | 667 | 8,761 |
END OF PERIOD | 554 | 1,069 |
SUPPLEMENTAL DISCLOSURES: | ||
Cash paid for interest | 0 | 10,000 |
Cash paid for income taxes | 0 | 0 |
Non-cash investing and financing activities: | ||
Disposal of fully-depreciated fixed asset | 0 | 187 |
Beneficial conversion feature on convertible notes payable | $ 0 | $ 6,200 |
NOTE 1 SUMMARY OF SIGNIFICANT A
NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 9 Months Ended |
Sep. 30, 2021 | |
Notes | |
NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Organization - Bioethics, Ltd. (“the Company”) was organized under the laws of the State of Nevada on July 26, 1990. The Company was organized to provide a vehicle for participating in potentially profitable business ventures which may become available through the personal contacts of and at the complete discretion, of the Company’s officers and directors. The Company has not paid any dividends and any dividends that may be paid in the future will depend upon the financial requirements of the Company and other relevant factors. The accompanying financial statements have been prepared by the Company without audit. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position, results of operations, and cash flows for the nine months ended September 30, 2021 and 2020 have been made. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted. It is suggested that these financial statements be read in conjunction with the financial statements and notes thereto included in the Company’s December 31, 2020 audited financial statements. The results of operations for the nine months ended September 30, 2021 are not necessarily indicative of the operating results for the full year. |
NOTE 2 RELATED PARTY TRANSACTIO
NOTE 2 RELATED PARTY TRANSACTIONS | 9 Months Ended |
Sep. 30, 2021 | |
Notes | |
NOTE 2 RELATED PARTY TRANSACTIONS | NOTE 2 - RELATED PARTY TRANSACTIONS Management Compensation - During the nine months ended September 30, 2021 and 2020, the Company did not pay any compensation to its officers and directors. Beginning August 2017, the Company entered into an oral agreement to pay the Company’s President $500 per month as payment for use of his personal residence as the Company’s office and mailing address. The Company has recorded rent expense of $4,500 during each of the nine months ended September 30, 2021 and 2020, which is included in the general and administrative expenses on the statements of operations. The amount payable at December 31, 2020 was $1,500. During the nine months ended September 30, 2021, the Company paid $-0-, resulting in $6,000 payable at September 30, 2021. On March 8, 2018, the Company entered into a promissory note with a newly-affiliated party in the amount of $43,250. The note is payable on demand and carries interest at 10% per annum. Interest expense for the nine months ended September 30, 2021 and 2020 was $5,662 and $2,597, respectively, resulting in accrued interest of $15,416 and $9,755 at September 30, 2021 and December 31, 2020, respectively. Principal balance on the note at September 30, 2021 and December 31, 2020 was $43,250. On December 12, 2017, the Company entered into a promissory note with its President in the amount of $107,000. On various dates from the origin of the note through December 31, 2020, the officer advanced the Company an additional $53,270, and the Company made payments of $20,686, resulting in the total note principal balance of $139,584 at December 31, 2020. During the nine months ended September 30, 2021, the Company received an additional $20,250 and paid a total of $-0- of the principal balance resulting in the total note principal balance of $159,834 at September 30, 2021. The cumulative note balance is uncollateralized, due on demand, and carries interest at 12% per annum. Interest expense on the note for the nine months ended September 30, 2021 and 2020 was $13,251 and $10,707, respectively, of which the Company repaid $-0- during the nine months ended September 30, 2021, resulting in accrued interest totaling $24,057 and $10,806 at September 30, 2021 and December 31, 2020, respectively. |
NOTE 3 - NOTES PAYABLE
NOTE 3 - NOTES PAYABLE | 9 Months Ended |
Sep. 30, 2021 | |
Notes | |
NOTE 3 - NOTES PAYABLE | NOTE 3 - NOTES PAYABLE On June 14, 2016, the Company issued a promissory note in the principal amount of $35,000 to an unaffiliated lender. The Note is due on demand at any time after its original maturity date of June 14, 2017, and carries an interest rate of 8% per annum. Interest expense for the nine months ended September 30, 2021 and 2020 totaled $2,094 and $2,102, respectively, resulting in accrued interest at September 30, 2021 and December 31, 2020 of $14,836 and $12,742, respectively. Principal balance due on the note at September 30, 2021 and December 31, 2020 was $35,000. On August 15, 2018, the Company issued a promissory note in the principal amount of $10,000 to an unaffiliated lender. The Note was due on November 15, 2018, is currently in default, and carries an interest rate of 12% per annum. Interest expense for the nine months ended September 30, 2021 and 2020 totaled $897 and $901, respectively, resulting in accrued interest at September 30, 2021 and December 31, 2020 of $3,005 and $2,108, respectively. Principal balance on the note at September 30, 2021 and December 31, 2020 was $10,000. On November 15, 2018, the Company issued a promissory note in the principal amount of $20,000 to an unaffiliated lender. The Note was due on February 15, 2019, is currently in default, and carries an interest rate of 12% per annum. Interest expense for the nine months ended September 30, 2021 and 2020 totaled $1,795 and $1,802, respectively, resulting in accrued interest at September 30, 2021 and December 31, 2020 of $6,010 and $4,215, respectively. Principal balance on the note at September 30, 2021 and December 31, 2020 was $20,000. On December 31, 2018, the Company issued a promissory note in the principal amount of $30,000 to an unaffiliated lender. The Note was due on December 31, 2019, is currently in default, and carries an interest rate of 12% per annum. Interest expense for the nine months ended September 30, 2021 and 2020 totaled $2,693 and $2,702, respectively, resulting in accrued interest at September 30, 2021 and December 31, 2020 of $9,015 and $6,322, respectively. Principal balance on the note at September 30, 2021 and December 31, 2020 was $30,000. On January 23, 2019, the Company issued a promissory note in the principal amount of $50,000 to an unaffiliated lender. The Note was due on January 23, 2020, is currently in default, and carries an interest rate of 12% per annum. Interest expense for the nine months ended September 30, 2021 and 2020 totaled $4,488 and $4,504, respectively, resulting in accrued interest at September 30, 2021 and December 31, 2020 of $15,025 and $10,537, respectively. Principal balance on the note at September 30, 2021 and December 31, 2020 was $50,000. On May 1, 2020, the Company issued a promissory note in the principal amount of $5,000 to an unaffiliated lender. The Note was due on May 1, 2021 and is now due on demand and carries an interest rate of 12% per annum. Interest expense for the nine months ended September 30, 2021 and 2020 totaled $449 and $240, respectively, resulting in accrued interest at September 30, 2021 and December 31, 2020 of $840 and $391, respectively. Principal balance on the note at September 30, 2021 and December 31, 2020 was $5,000. |
NOTE 4 - CONVERTIBLE NOTE PAYAB
NOTE 4 - CONVERTIBLE NOTE PAYABLE | 9 Months Ended |
Sep. 30, 2021 | |
Notes | |
NOTE 4 - CONVERTIBLE NOTE PAYABLE | NOTE 4 – CONVERTIBLE NOTE PAYABLE On December 18, 2019, the Company issued a convertible promissory note in the original principal amount of $10,000 to a lender. The Note was due on June 18, 2020, is currently in default, and carries an interest rate of 8% per annum. The Note is due and payable in full unless converted partially or in its entirety upon the election of the lender into fully paid and non-assessable shares of common stock of the Company at a conversion rate of $2.00 per share. The Company recognized a beneficial conversion feature and recorded a debt discount in the amount of $4,000, which was amortized over the life of the promissory note. At September 30, 2021 and December 31, 2020, the unamortized debt discount was $-0-, and the net convertible note balance was $10,000. The amortization of debt discount was $-0- and $3,716 during the nine months ended September 30, 2021 and 2020, respectively. Interest expense for the nine months ended September 30, 2021 and 2020 totaled $897 and $901, respectively, resulting in accrued interest at September 30, 2021 and December 31, 2020 of $2,143 and $1,246, respectively. Principal balance on the note at September 30, 2021 and December 31, 2020 was $10,000. On June 9, 2020, the Company issued a convertible promissory note in the original principal amount of $10,000 to a lender. The Note was due on June 9, 2021, is currently in default, and carries an interest rate of 10% per annum. The Note is due and payable in full unless converted partially or in its entirety upon the election of the lender into fully paid and non-assessable shares of common stock of the Company at a conversion rate of $2.50 per share. The Company recognized a beneficial conversion feature and recorded a debt discount in the amount of $6,200, which was amortized over the life of the promissory note. At September 30, 2021 and December 31, 2020, the unamortized debt discount was $-0- and $2,718, respectively, and the net convertible note balance was $10,000 and $7,282, respectively. The amortization of debt discount was $2,718 and $1,919 during the nine months ended September 30, 2021 and 2020, respectively. Interest expense for the nine months ended September 30, 2021 and 2020 totaled $860 and $248, respectively, resulting in accrued interest at September 30, 2021 and December 31, 2020 of $1,309 and $449. Principal balance on the note at September 30, 2021 and December 31, 2020 was $10,000. On August 3, 2020, the Company issued a convertible promissory note in the original principal amount of $15,000 to a lender. The Note was due on August 3, 2021, is currently in default, and carries an interest rate of 8% per annum. The Note is due and payable in full unless converted partially or in its entirety upon the election of the lender into fully paid and non-assessable shares of common stock of the Company at a conversion rate of $7.00 per share. The Company did not recognize a beneficial conversion feature or debt discount as the conversion price was higher than the market price at the time of issuance of the note. Interest expense for the nine months ended September 30, 2021 and 2020 totaled $898 and $191, respectively, resulting in accrued interest at September 30, 2021 and December 31, 2020 of $1,391 and $493. Principal balance on the note at September 30, 2021 and December 31, 2020 was $15,000. |
NOTE 5 - EQUITY TRANSACTIONS
NOTE 5 - EQUITY TRANSACTIONS | 9 Months Ended |
Sep. 30, 2021 | |
Notes | |
NOTE 5 - EQUITY TRANSACTIONS | NOTE 5 – EQUITY TRANSACTIONS The Company is authorized to issue 250,000,000 shares of common stock. There were no equity transactions during the nine months ended September 30, 2021 or 2020, resulting in 1,135,194 shares of common stock issued and outstanding at September 30, 2021 and December 31, 2020. Effective November 2, 2020, the Company effectuated a 1 share for 10 shares reverse stock split which reduced the issued and outstanding shares of common stock from 11,000,000 shares to 1,135,194 shares. The accompanying financial statements have been retroactively adjusted to reflect this reverse stock split. |
NOTE 6 - GOING CONCERN
NOTE 6 - GOING CONCERN | 9 Months Ended |
Sep. 30, 2021 | |
Notes | |
NOTE 6 - GOING CONCERN | NOTE 6 - GOING CONCERN The accompanying financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America, which contemplate continuation of the Company as a going concern. However, the Company has incurred losses since its inception totaling $1,064,108 and has no on-going operations. These factors raise substantial doubt about the ability of the Company to continue as a going concern. In this regard, management is proposing to raise any necessary additional funds not provided by operations through loans, additional sales of its common stock, or through a possible business combination. There is no assurance that the Company will be successful in raising this additional capital or in achieving profitable operations. In addition, the COVID-19 pandemic could have an impact on our ability to obtain financing to fund the operations. The financial statements do not include any adjustments that might result from the outcome of these uncertainties. |
NOTE 7 - LOSS PER SHARE
NOTE 7 - LOSS PER SHARE | 9 Months Ended |
Sep. 30, 2021 | |
Notes | |
NOTE 7 - LOSS PER SHARE | NOTE 7 - LOSS PER SHARE The computation of basic loss per share is based on the weighted average number of shares outstanding during each period. The following data show the amounts used in computing loss per share for the nine months ended: September 30, 2021 September 30, 2020 Net loss (numerator) $ (83,764) $ (88,423) Weighted average shares outstanding (denominator) 1,135,194 1,135,194 Basic and fully diluted net loss per share amount $ (0.07) $ (0.08) The following data show the amounts used in computing loss per share for the three months ended: September 30, 2021 September 30, 2020 Net loss (numerator) $ (25,706) $ (24,052) Weighted average shares outstanding (denominator) 1,135,194 1,135,194 Basic and fully diluted net loss per share amount $ (0.02) $ (0.02) The computation of diluted earnings per common share is based on the weighted average number of shares outstanding during the year plus the common stock equivalents as detailed in the following chart. For the nine months ended September 30, 2021 and 2020, the inclusion of these shares on the statements of operations would have resulted in a weighted average shares fully diluted number that was anti-dilutive, and as such they are excluded. The following data show the fully diluted shares for the nine months ended September 30, 2021 and 2020: September 30, 2021 2020 Basic weighted average shares outstanding 1,135,194 1,135,194 Convertible debt 12,758 11,615 Total 1,147,952 1,146,809 The following data show the fully diluted shares for the three months ended September 30, 2021 and 2020: September 30, 2021 2020 Basic weighted average shares outstanding 1,135,194 1,135,194 Convertible debt 12,758 11,615 Total 1,147,952 1,146,809 |
NOTE 8 - SUBSEQUENT EVENTS
NOTE 8 - SUBSEQUENT EVENTS | 9 Months Ended |
Sep. 30, 2021 | |
Notes | |
NOTE 8 - SUBSEQUENT EVENTS | NOTE 8 – SUBSEQUENT EVENTS The Company has evaluated subsequent events from the balance sheet date through the date the financial statements were issued and determined there are no events requiring disclosure. |
NOTE 7 - LOSS PER SHARE_ Schedu
NOTE 7 - LOSS PER SHARE: Schedule of earnings per share (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Tables/Schedules | |
Schedule of earnings per share | The following data show the amounts used in computing loss per share for the nine months ended: September 30, 2021 September 30, 2020 Net loss (numerator) $ (83,764) $ (88,423) Weighted average shares outstanding (denominator) 1,135,194 1,135,194 Basic and fully diluted net loss per share amount $ (0.07) $ (0.08) The following data show the amounts used in computing loss per share for the three months ended: September 30, 2021 September 30, 2020 Net loss (numerator) $ (25,706) $ (24,052) Weighted average shares outstanding (denominator) 1,135,194 1,135,194 Basic and fully diluted net loss per share amount $ (0.02) $ (0.02) |
NOTE 7 - LOSS PER SHARE_ Sche_2
NOTE 7 - LOSS PER SHARE: Schedule of fully diluted shares (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Tables/Schedules | |
Schedule of fully diluted shares | The following data show the fully diluted shares for the nine months ended September 30, 2021 and 2020: September 30, 2021 2020 Basic weighted average shares outstanding 1,135,194 1,135,194 Convertible debt 12,758 11,615 Total 1,147,952 1,146,809 The following data show the fully diluted shares for the three months ended September 30, 2021 and 2020: September 30, 2021 2020 Basic weighted average shares outstanding 1,135,194 1,135,194 Convertible debt 12,758 11,615 Total 1,147,952 1,146,809 |
NOTE 2 RELATED PARTY TRANSACT_2
NOTE 2 RELATED PARTY TRANSACTIONS (Details) - USD ($) | Dec. 31, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Mar. 08, 2018 | Dec. 12, 2017 |
Notes payable - related parties | $ 182,834 | $ 203,084 | $ 203,084 | ||||
Interest Expense | 10,833 | $ 11,130 | 36,701 | $ 32,529 | |||
Director 1 | |||||||
Operating Leases, Rent Expense | 4,500 | 4,500 | |||||
Notes payable - related parties | 1,500 | 6,000 | 6,000 | ||||
Repayments of Related Party Debt | 0 | ||||||
Newly Affiliated Party | |||||||
Notes payable - related parties | 9,755 | 15,416 | 15,416 | ||||
Debt Instrument, Face Amount | $ 43,250 | ||||||
Debt Instrument, Interest Rate, Stated Percentage | 10.00% | ||||||
Interest Payable, Current | 2,597 | 5,662 | 5,662 | ||||
Sole Officer And Director | |||||||
Notes payable - related parties | 139,584 | $ 159,834 | 159,834 | ||||
Repayments of Related Party Debt | 20,686 | $ 0 | |||||
Debt Instrument, Face Amount | $ 107,000 | ||||||
Debt Instrument, Interest Rate, Stated Percentage | 12.00% | 12.00% | |||||
Interest Payable, Current | 10,806 | $ 24,057 | $ 24,057 | ||||
Proceeds from Related Party Debt | $ 53,270 | 20,250 | |||||
Interest Expense | 13,251 | $ 10,707 | |||||
Repayment of Notes Receivable from Related Parties | $ 0 |
NOTE 3 - NOTES PAYABLE (Details
NOTE 3 - NOTES PAYABLE (Details) - USD ($) | 3 Months Ended | 9 Months Ended | |||||||||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | May 01, 2020 | Jan. 23, 2019 | Dec. 31, 2018 | Nov. 15, 2018 | Aug. 15, 2018 | Jun. 14, 2016 | |
Interest Expense | $ 10,833 | $ 11,130 | $ 36,701 | $ 32,529 | |||||||
Promissory Note 1 | |||||||||||
Debt Instrument, Face Amount | $ 35,000 | ||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 8.00% | ||||||||||
Interest Expense | 2,094 | 2,102 | |||||||||
Interest Payable, Current | 14,836 | 14,836 | $ 12,742 | ||||||||
Long-term Debt, Gross | 35,000 | 35,000 | 35,000 | ||||||||
Promissory Note 2 | |||||||||||
Debt Instrument, Face Amount | $ 10,000 | ||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 12.00% | ||||||||||
Interest Expense | 897 | 901 | |||||||||
Interest Payable, Current | 3,005 | 3,005 | 2,108 | ||||||||
Long-term Debt, Gross | 10,000 | 10,000 | 10,000 | ||||||||
Promissory Note 3 | |||||||||||
Debt Instrument, Face Amount | $ 20,000 | ||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 12.00% | ||||||||||
Interest Expense | 1,795 | 1,802 | |||||||||
Interest Payable, Current | 6,010 | 6,010 | 4,215 | ||||||||
Long-term Debt, Gross | 20,000 | 20,000 | 20,000 | ||||||||
Promissory Note 4 | |||||||||||
Debt Instrument, Face Amount | $ 30,000 | ||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 12.00% | ||||||||||
Interest Expense | 2,693 | 2,702 | |||||||||
Interest Payable, Current | 9,015 | 9,015 | 6,322 | ||||||||
Long-term Debt, Gross | 30,000 | 30,000 | 30,000 | ||||||||
Promissory Note 5 | |||||||||||
Debt Instrument, Face Amount | $ 50,000 | ||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 12.00% | ||||||||||
Interest Expense | 4,488 | 4,504 | |||||||||
Interest Payable, Current | 15,025 | 15,025 | 10,537 | ||||||||
Long-term Debt, Gross | 50,000 | 50,000 | 50,000 | ||||||||
Promissory Note 6 | |||||||||||
Debt Instrument, Face Amount | $ 5,000 | ||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 12.00% | ||||||||||
Interest Expense | 449 | $ 240 | |||||||||
Interest Payable, Current | 840 | 840 | 391 | ||||||||
Long-term Debt, Gross | $ 5,000 | $ 5,000 | $ 5,000 |
NOTE 4 - CONVERTIBLE NOTE PAY_2
NOTE 4 - CONVERTIBLE NOTE PAYABLE (Details) - USD ($) | Dec. 31, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 |
Debt Instrument, Unamortized Discount | $ 2,718 | $ 0 | $ 0 | ||
Amortization of debt discount | 2,718 | $ 5,635 | |||
Interest Expense | 10,833 | $ 11,130 | 36,701 | 32,529 | |
A Lender | |||||
Debt Instrument, Face Amount | 10,000 | $ 10,000 | |||
Debt Instrument, Payment Terms | The Note was due on June 18, 2020, is currently in default, and carries an interest rate of 8% per annum. | ||||
Debt Instrument, Convertible, Terms of Conversion Feature | The Note is due and payable in full unless converted partially or in its entirety upon the election of the lender into fully paid and non-assessable shares of common stock of the Company at a conversion rate of $2.00 per share. | ||||
Debt Instrument, Unamortized Discount | 4,000 | $ 4,000 | |||
Debt Instrument, Unamortized Discount, Current | 0 | 0 | 0 | ||
Amortization of debt discount | 3,716 | ||||
Interest Expense | 897 | 901 | |||
Interest Payable, Current | 1,246 | 2,143 | 2,143 | ||
Long-term Debt, Gross | 10,000 | ||||
A Lender 2 | |||||
Debt Instrument, Face Amount | 10,000 | $ 10,000 | |||
Debt Instrument, Payment Terms | The Note was due on June 9, 2021, is currently in default, and carries an interest rate of 10% per annum. | ||||
Debt Instrument, Convertible, Terms of Conversion Feature | The Note is due and payable in full unless converted partially or in its entirety upon the election of the lender into fully paid and non-assessable shares of common stock of the Company at a conversion rate of $2.50 per share. | ||||
Debt Instrument, Unamortized Discount | 6,200 | $ 6,200 | |||
Debt Instrument, Unamortized Discount, Current | 2,718 | 0 | 0 | ||
Amortization of debt discount | 1,919 | 2,718 | |||
Interest Expense | 860 | 248 | |||
Interest Payable, Current | 449 | 1,309 | 1,309 | ||
Long-term Debt, Gross | 10,000 | 10,000 | |||
A Lender 3 | |||||
Debt Instrument, Face Amount | 15,000 | $ 15,000 | |||
Debt Instrument, Payment Terms | The Note was due on August 3, 2021, is currently in default, and carries an interest rate of 8% per annum. | ||||
Debt Instrument, Convertible, Terms of Conversion Feature | The Note is due and payable in full unless converted partially or in its entirety upon the election of the lender into fully paid and non-assessable shares of common stock of the Company at a conversion rate of $7.00 per share. | ||||
Interest Expense | $ 898 | $ 191 | |||
Interest Payable, Current | $ 493 | 1,391 | 1,391 | ||
Long-term Debt, Gross | $ 15,000 | $ 15,000 |
NOTE 5 - EQUITY TRANSACTIONS (D
NOTE 5 - EQUITY TRANSACTIONS (Details) - shares | Nov. 02, 2020 | Sep. 30, 2021 | Dec. 31, 2020 |
Details | |||
Common Stock, Shares Authorized | 250,000,000 | 250,000,000 | |
Common Stock, Shares, Issued | 1,135,194 | 1,135,194 | |
Common Stock, Shares, Outstanding | 1,135,194 | 1,135,194 | |
Stockholders' Equity, Reverse Stock Split | the Company effectuated a 1 share for 10 shares reverse stock split which reduced the issued and outstanding shares of common stock from 11,000,000 shares to 1,135,194 shares |
NOTE 6 - GOING CONCERN (Details
NOTE 6 - GOING CONCERN (Details) - USD ($) | 3 Months Ended | 9 Months Ended | 374 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 | Sep. 30, 2021 | |
Details | |||||||||
NET LOSS | $ (25,706) | $ (29,883) | $ (28,175) | $ (24,052) | $ (27,714) | $ (36,657) | $ (83,764) | $ (88,423) | $ 1,064,108 |
NOTE 7 - LOSS PER SHARE_ Sche_3
NOTE 7 - LOSS PER SHARE: Schedule of earnings per share (Details) - USD ($) | 3 Months Ended | 9 Months Ended | 374 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 | Sep. 30, 2021 | |
Details | |||||||||
NET LOSS | $ (25,706) | $ (29,883) | $ (28,175) | $ (24,052) | $ (27,714) | $ (36,657) | $ (83,764) | $ (88,423) | $ 1,064,108 |
Weighted average shares outstanding (denominator) | 1,135,194 | 1,135,194 | 1,135,194 | 1,135,194 | |||||
Basic and fully diluted net loss per share amount | $ (0.02) | $ (0.02) | $ (0.07) | $ (0.08) |
NOTE 7 - LOSS PER SHARE_ Sche_4
NOTE 7 - LOSS PER SHARE: Schedule of fully diluted shares (Details) - shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Details | ||||
Basic weighted average shares outstanding | 1,135,194 | 1,135,194 | 1,135,194 | 1,135,194 |
Convertible debt | 12,758 | 11,615 | 12,758 | 11,615 |
Total | 1,147,952 | 1,146,809 | 1,147,952 | 1,146,809 |