Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statement of Cash Flows (Unaudited)

v3.20.2
Condensed Consolidated Statement of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash Flows from operating activities    
Net Loss $ (505,166) $ (648,036)
Adjustments to reconcile net loss to net cash used in operations:    
Amortization of Debt Discount 14,717
Depreciation expense 120 906
Net loss from equity method investment 71,455 50,791
Unrealized (Gain) Loss on Investment (18,000) 29,500
Change in Operating Assets and Liabilities:    
Decrease in Accounts Receivables 1,667
Increase in Prepaid Expenses (682)
Increase in Accounts Payable and Accrued Expenses 173,797 187,455
Increase in Accounts Payable and Accrued Expenses, related party 90,000 90,000
Net Cash used in Operating activities (173,759) (287,717)
Cash Flows from Investing Activities    
Capital Contributions to Equity Method Investee (34,500)
Advances to a related-party (17,500)
Net Cash used in Investing Activities (17,500) (34,500)
Cash Flow from Financing Activities    
Repayment of short term advances - related parties (1,131)
Proceeds from Note Payable 34,500 2,600
Proceeds from short term advances, related parties 152,950 297,600
Net Cash provided by financing activities 187,450 299,069
Net cash decrease for the period (3,809) (23,148)
Cash beginning of the Period 9,184 27,223
Cash end of the Period 5,375 4,075
Supplemental disclosure for Cash Flow Information    
Cash paid for income taxes
Cash paid for interest expense 3,508 6,585
Supplemental disclosure for Non Cash investing and financing activities:    
Reclassification of due to Related Party to capital contribution to equity method investment 16,291
Compounding of accrued interest into principal $ 12,167