v3.21.1
ACQUIRED ASSETS AND ASSUMED LIABILITIES OF DISCONTINUED OPERATIONS (Tables)
12 Months Ended
Dec. 31, 2020
ACQUIRED ASSETS AND ASSUMED LIABILITIES OF DISCONTINUED OPERATIONS (Tables)  
Schedule of total identified net assets

 

 

August 9, 2018

 

 

December 31,

2019

 

 

December 31,

2020

 

 Security deposit

 

$

4,871

 

 

$

-

 

 

$

-

 

 Goodwill

 

 

612,771

 

 

 

-

 

 

 

-

 

 Accrued expenses

 

 

(125,647

)

 

 

-

 

 

-

 Accrued interest

 

 

(49,261

)

 

 

(75,806

)

 

 

(33,221

)

 Notes payable

 

 

(117,500

)

 

 

(99,500

)

 

 

-

 

 Convertible notes

 

 

(138,500

)

 

 

(138,500

)

 

 

(138,500

)

 Derivative liability

 

 

(172,532

)

 

 

(72,904

)

 

 

(238,395

)

Liabilities of discontinued operations

 

 

-

 

 

 

(214,418

)

 

 

(71,574

)

Total identified net assets (liabilities)

 

$

14,202

 

 

$

(601,128

)

 

$

(481,690

)

Schedule of Convertible notes

 

 

December 31,

2020

 

(A) Convertible note payable, annual interest rate of 8%, convertible into common stock at $0.11 per share and is 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 and is due August 2020

 

 

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

 

 

 

December 31,

2019

 

 

 

December 31,

2019

 

(1) dividend yield of

 

 

0%;

 

 

 

0%;

 

(2) expected volatility of

 

 

315%;

 

 

 

39%;

 

(3) risk-free interest rate of

 

 

0.09%;

 

 

 

1.55%;

 

(4) expected life of

 

 

0.33 year;

 

 

 

0.33 year;

 

(5) fair value of the Company’s common stock of

 

 

$0.06 per share.

 

 

 

$0.08 per share.