Quarterly report pursuant to Section 13 or 15(d)

Summary of Significant Accounting Policies (Tables)

v3.22.2.2
Summary of Significant Accounting Policies (Tables)
9 Months Ended
Sep. 30, 2022
Accounting Policies [Abstract]  
Schedule of Fair Value and Recognized Gain Loss on Deconsolidation of Subsidiary

 

Consideration        
Shares of common stock 119,584,736 - W Technologies, Inc.   $ -  
         
Fair value of consideration received   $ -  
         
Recognized amounts of identifiable assets sold and liabilities assumed by W Tech:        
         
Cash   $ 53,178  
Trademark     2,835  
Intangible assets – net     9,500  
Total assets assigned to W Tech     65,513  
         
Accounts payable and accrued expenses     56,489  
Due to Related Party     25,764  
Due to Lyons Capital, LLC     25,000  
Note payable     112,167  
Total liabilities assumed by W Tech     219,420  
         
Total net liabilities assumed by W Tech     153,907  
         
Gain on deconsolidation of Krypto Ventures, Inc.   $ 153,907  
Schedule of Fair Value of Assets on Recurring Basis

The following table presents certain assets of the Company’s measured and recorded at fair value on the Company’s balance sheet on a recurring basis and their level within the fair value hierarchy as of September 30, 2022.

 

    Total     (Level 1)     (Level 2)     (Level 3)  
Fair-value – equity securities   $ 245,533     $ 245,533     $    -     $    -  
Total Assets measured at fair value   $ 245,533     $ 245,533     $ -     $ -  

 

The following table presents certain assets of the Company’s measured and recorded at fair value on the Company’s balance sheet on a recurring basis and their level within the fair value hierarchy as of December 31, 2021.

 

    Total     (Level 1)     (Level 2)     (Level 3)  
Fair-value – equity securities   $ 550,057     $    -     $     -     $ 550,057  
Fair-value – equity securities-RP    

18,812

                     

18,812

 
Total Assets measured at fair value   $ 568,869     $ -     $ -     $ 568,869  
Schedule of Property and Equipment

Property and equipment as of September 30, 2022, and December 31, 2021 consisted of the following:

 

    September 30,
2022
(unaudited)
    December 31,
2021
 
Website   $ 1,336     $ 1,336  
Computer equipment & Software     5,358       5,358  
Furniture     4,622       4,622  
Total     11,316       11,316  
Less Accumulated Depreciation     (11,316 )     (11,316 )
Property and Equipment, net   $ -     $ -