v3.22.2.2
ACQUIRED ASSETS AND ASSUMED LIABILITIES OF DISCONTINUED OPERATIONS (Tables)
 6 Months Ended
Jun. 30, 2022
ACQUIRED ASSETS AND ASSUMED LIABILITIES OF DISCONTINUED OPERATIONS (Tables)  
Schedule of total identified net assets

 

 

August 9,

2018

 

 

December 31,

2021

 

 

June 30,

2022

 

Security deposit

 

$4,871

 

 

$-

 

 

$-

 

Goodwill

 

 

612,771

 

 

 

-

 

 

 

-

 

Accrued expenses

 

 

(125,647)

 

 

-

 

 

 

-

 

Accrued interest

 

 

(49,261)

 

 

(44,724)

 

 

(50,591)
Notes payable

 

 

(117,500)

 

 

-

 

 

 

-

 

Convertible notes

 

 

(138,500)

 

 

(138,500)

 

 

(138,500)
Derivative liability

 

 

(172,532)

 

 

(138,622)

 

 

(59,785)
Liabilities of discontinued operations

 

 

-

 

 

 

(71,574)

 

 

(71,574)
Total identified net assets (liabilities)

 

$14,202

 

 

$(393,420)

 

$(320,450)
Schedule of Convertible notes

 

 

June 30,

2022

 

(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 (in default)

 

 

20,000

 

Total convertible debt

 

$138,500

 
Schedule of fair value of derivatives

 

 

June 30,

2022

 

December 31,

2021

 

(1) dividend yield of

 

0%;

 

0%;

(2) expected volatility of

 

185%;

 

194%;

(3) risk-free interest rate of

 

1.72%;

 

0.06%;

(4) expected life of

 

0.33 year;

 

0.33 year;

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

 

$12 per share.

 

$38 per share.