v3.22.1
Stockholder's Deficit
 12 Months Ended
Dec. 31, 2021
Stockholders' Equity Note [Abstract]  
Stockholders' Equity Note Disclosure [Text Block]

Note 13 – Stockholder’s Deficit

 

Common Stock

 

Debenture and warrant holders converted debt of $448,021 into 59,875,189 shares which were issued upon conversion of the notes referred to in Note 10 above for the year ended December 31, 2021, and additional warrants aggregating 5,545,039 shares were issued.

 

During the year ended December 31, 2021, the following shares were converted from debt.

 

Capital Company

  

Shares converted

    

Dollars converted

  

Power Up

     14,399,082     $ 133,505  

Oasis Capital

     45,476,107       314,516  

Total

     59,875,189     $ 448,021  

 

During the year ended December 31, 2021, the following warrants were exercised and shares were issued.

 

Capital Company

  

Warrants Exercised

    

Exercise price

    

Dollars converted

  

Power Up

     6,319,930     $ .00101     $ 63,724  

Oasis Capital

     5,545,039       .00807       44,776  

Total (weighted average price is $.00915)

     11,864,969       .00915     $ 108,500  

 

Preferred Stock

 

On September 15, 2017, and on September 15, 2018, the Board of Directors authorized on each such date the issuance of 15,000,000 preferred shares for an aggregate of 30,000,000 shares of Class B Convertible Preferred Stock [“Series B”] to both Directors of the Company and to two Consultants, of which, David Shorey, President of the Company, is the beneficial owner thereof, a total of 30,000,000 shares of Series B. The Company assigned a value of $15,000 for the shares for 2017 and 2018. Of the Series B, 12,000,000 shares were issued to the President and 2,000,000 to Wayne Marx, the Directors. Each Consultant received 8,000,000 shares. See the Company’s Schedule 14C filed with the Commission on September 28, 2018. Upon their resignations the shares of Mr. O’Dowd and Mr. Marx were cancelled and reissued to two Consultants. These shares have no market pricing and management assigned an aggregate value of $30,000 to the stock issued based on the par value of $0.001. The 30,000,000 shares of Preferred Stock, each has 200 votes for each Preferred share held by of record. The holders of the Preferred are also entitled to an additional 8,823,930 common shares upon conversion of the Preferred Stock. As a result of owning of these shares of Common and Preferred Stock, the Control Shareholders will have voting control the Company.

 

At various times the Board of Directors decided to issue shares to insiders in order to provide for financing the operations of the Company. The following preferred shares were converted to common shares and issued to the control group as follows:

 

Issued to:

  

Date

    

Shares

    

Valuation

  

Absaroka Communication Corporation – President Shorey controlled corporation

   7-7-21       10,000,000     $ 10,000  

Absaroka Communication Corporation – President Shorey controlled corporation

   8-19-21       12,000,000       12,000  

Absaroka Communication Corporation – President Shorey controlled corporation

   11-19-21       120,000,000       120,000  

Dommer, LLC - Consultant

   11-19-21       30,000,000       30,000  

Total shares and valuation

           172,000,000     $ 172,000