Annual report pursuant to Section 13 and 15(d)

Consolidated Statement of Cash Flows

v3.22.1
Consolidated Statement of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Operating activities    
Net (Loss) Income - including non-controlling interest $ (809,404) $ 350,658
Adjustments to reconcile net loss to net cash used in operations    
Amortization of debt discount 14,903 17,552
Accreted interest income on note receivable (39,692)
Depreciation expense 80 160
Amortization of website development costs 1,336
Impairment of an investment - Bang Holdings Corp. 195,000
Net loss from equity method investment 24,188  
Investment received in exchange for consulting services (352,090) (1,000,000)
Unrealized loss(gain) on available - for - sale securities 822,533 (38,500)
Gain on deconsolidation of subsidiary (Krypto Ventures, Inc.) (153,907)
Gain on forgiveness of PPP loan and accrued interest (34,759)
Changes in operating assets and liabilities    
Accounts receivable (22,500)
Interest receivable (12,168)
Prepaids 25,000 4,325
Accounts payable and accrued expenses 180,324 233,293
Accounts payable and accrued expenses - related party 120,000 120,000
Accumulated (income) losses on unconsolidated investees in excess of investment (15,740) 94,510
Net cash used in operating activities (56,896) (218,002)
Investing activities    
Notes receivable (141,000)
Website development cost (9,500)
Advance to a related party (17,500)
Cash disposed in deconsolidation of subsidiary (53,178)
Net cash used in investing activities (203,678) (17,500)
Financing activities    
Proceeds from issuance of note payable 34,500
Proceeds from issuance of note payable, related party, net 25,000
Proceeds from issuance of convertible note payable, related party, net 50,000
Proceeds from short term advances, related parties 407,500 197,450
Net cash provided by financing activities 482,500 231,950
Net increase (decrease) in cash 221,926 (3,552)
Cash and cash equivalents - beginning of year 5,632 9,184
Cash and cash equivalents - end of year 227,558 5,632
Supplemental disclosure of cash flow information    
Cash paid for interest 3,508
Cash paid for income tax 900
Supplemental disclosure of non-cash investing and financing activities    
Investment at fair value received from issuance of note receivable 43,000
Beneficial conversion features on convertible notes payable - related party $ 3,799