v3.20.2

ACQUIRED ASSETS AND ASSUMED LIABILITIES OF DISCONTINUED OPERATIONS (Tables)

9 Months Ended

Sep. 30, 2020

ACQUIRED ASSETS AND ASSUMED LIABILITIES OF DISCONTINUED OPERATIONS (Tables)

Schedule of total identified net assets

		August 9, 2018				September 30, 2020
Security deposit		$	4,871			$	-
Goodwill			612,771				-
Accrued expenses			(125,647	)			(24,053	)
Accrued interest			(49,261	)			(89,411	)
Notes payable			(117,500	)			(99,500	)
Convertible notes			(138,500	)			(138,500	)
Derivative liability			(172,532	)			(230,662	)
Liabilities of discontinued operations			-				(214,418	)
Total identified net assets		$	14,202			$	(796,544	)

Schedule of Convertible notes

		September 30, 2020
(A) Convertible note payable, annual interest rate of 8%, convertible into common stock at $0.11 per share and was due December 2019 (in default)		$	5,000
(B) Convertible note payable, annual interest rate of 8%, convertible into common stock at $0.11 per share (in default)			50,000
(C) Convertible note payable, annual interest rate of 5%, convertible into common stock at a variable rate per share and was due September 2018 (in default)			63,500
(D) Convertible note payable, annual interest rate of 8%, convertible into common stock at $0.30 per share and is due October 13, 2020			20,000
Total convertible debt		$	138,500

Schedule of fair value of derivatives

		September 30, 2020		December 31, 2019
(1) dividend yield of		0%;		0%;
(2) expected volatility of		288%;		39%;
(3) risk-free interest rate of		0.10%;		1.55%;
(4) expected life of		0.33 year;		0.33 year;
(5) fair value of the Company’s common stock of		$0.10 per share.		$0.06 per share.

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- Definition

Tabular disclosure of borrowings which can be exchanged for a specified number of another security at the option of the issuer or the holder. Disclosures include, but are not limited to, principal amount, amortized premium or discount, and amount of liability and equity components.

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- Definition

Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=116869197&loc=d3e4845-128472

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