Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.22.2.2
Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2022
Dec. 31, 2021
Current Assets    
Cash and cash equivalents $ 227,769 $ 227,558
Accounts receivable - related party 45,000 22,500
Interest receivable 18,404 12,932
Note receivable, net of discount of $0 and $3,308 as of June 30, 2022 and December 31, 2021 141,000 162,692
Total Current Assets 432,173 425,682
Other Assets    
Due from related party 20,000 20,000
Investment at fair value - related party 318,874 550,057
Investment at fair value 18,812
Total Other Assets 338,874 588,869
Total Assets 771,047 1,014,551
Current Liabilities    
Accounts payable and accrued expenses 1,125,589 1,010,028
Accounts payable - related party 911,659 851,659
Short -term advances - related party 1,673,558 1,673,558
Convertible note payable 25,000 25,000
Convertible notes payable - related party, note of debt discount of $0 and $3,428, as of June 30, 2022 and December 31, 2021 173,192 169,764
Notes payable - related party - net of debt discount of $0 and $0 as of June 30, 2022 and December 31, 2021 106,850 106,850
Accumulated losses of unconsolidated investees in excess of investment 103,064 101,838
Total Current Liabilities 4,118,912 3,938,697
Long Term Liabilities    
Convertible note payable, net of debt discount of $25,515 and $31,185 as of June 30, 2022 and December 31, 2021 474,485 468,815
Total Long Term Liabilities 474,485 468,815
Total Liabilities 4,593,397 4,407,512
Commitments and Contingencies (Note 8)
Stockholders’ Deficit    
Preferred stock, $0.0001 par value, 50,000,000 shares authorized, none issued and outstanding as of June 30, 2022 and December 31, 2021
Common stock, $0.0001 par value: authorized 500,000,000,  21,674,000 and 21,674,000 shares issued and outstanding as of June 30, 2022 and December 31, 2021, respectively 2,167 2,167
Additional paid-in capital 810,048 810,048
Accumulated deficit (4,634,565) (4,205,176)
Total Stockholders’ Deficit (3,822,350) (3,392,961)
Total Liabilities and Stockholders’ Deficit $ 771,047 $ 1,014,551