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Restatement (Tables)
9 Months Ended
Sep. 30, 2021
Condensed Financial Information Disclosure [Abstract]  
Schedule of balance sheet
   September 30,   Restatement   September 30, 
   2021   Adjustment   2021 
   (As Reported)       (As Restated) 
             
ASSETS            
Current assets:            
Cash  $1,082   $
-
   $1,082 
Prepaid expenses   
-
    
-
    
-
 
Total current assets   1,082    
-
    1,082 
                
Total assets  $1,082   $
-
   $1,082 
                
LIABILITIES AND STOCKHOLDERS' DEFICIT               
                
Current liabilities:               
Accounts payable and accrued expenses  $4,218,421   $24,400   $4,242,821 
Accrued payroll and related expenses   4,037,298    -    4,037,298 
Deferred revenue   25,000    -    25,000 
Advances   122,000    -    122,000 
Non-convertible notes payable, current portion, net of debt discount of $15,862 and $0, respectively   1,759,589    493    1,760,082 
Derivative liabilities   4,289,634    -    4,289,634 
Convertible notes payable   3,063,970    -    3,063,970 
Total current liabilities   17,515,912    24,893    17,540,805 
                
Non-convertible notes payable, net of debt discount of $1,636 and $0, respectively   128,857    (493)   128,364 
PPP note payable   -    -    - 
Total liabilities   17,644,769    24,400    17,669,169 
                
Commitments and contingencies (See Note 9)               
                
Stockholders' deficit:               
Preferred stock - 10,000,000 shares authorized:               
Preferred stock - Series X, $0.0001 par value, $20,000 stated value, 100 shares authorized; 26.05 and 16.05 shares issued and outstanding, respectively   
-
    
-
    
-
 
Preferred stock - Series Y, $0.001 par value, $20,000 stated value, 1,000 shares authorized; 720.515674 and 654.781794 shares issued; 720.515674 and 626.995464 shares outstanding, and 0 and 27.78633 to be issued, respectively   1    -    1 
Preferred stock - Series Z, $0.001 par value, $20,000 stated value, 500 shares authorized; 500 and 0 shares issued; 0 and 0 shares outstanding, and 500 and 0 to be issued, respectively   1    -    1 
Preferred stock - Series C, $0.001 par value, 1,000 shares authorized; 1,000 shares issued and outstanding   1    -    1 
Preferred stock - Series A, $0.001 par value, 6,000 shares authorized; 0 shares issued and outstanding   
-
    
-
    
-
 
Preferred stock - Series B, $0.001 par value, 2,000 shares authorized; 0 shares issued and outstanding   
-
    
-
    
-
 
Common stock, $0.001par value, 1,200,000,000 shares authorized; 499,871,337 and 493,726,405 shares issued and outstanding, respectively
   499,871    -    499,871 
Common stock to be issued, 906,373,564 and 907,379,814 shares, respectively   906,374    -    906,374 
Additional paid in capital   299,667,352    6,378,799    306,046,151 
Discount on preferred stock   
-
    
-
    
-
 
Accumulated deficit   (318,717,287)   (6,403,199)   (325,120,486)
Total stockholders' deficit   (17,643,687)   (24,400)   (17,668,087)
                
Total liabilities and stockholders' deficit  $1,082   $-   $1,082 

 

Schedule of operations
   Three Months
Ended
September 30,
2021
   Restatement
Adjustment
   Three Months
Ended
September 30,
2021
 
   (As Reported)       (As Restated) 
             
Revenues  $54   $-   $54 
                
Operating Expenses:               
Cost of revenues   
-
    
-
    
-
 
Advertising   (4,578)   -    (4,578)
Payroll and related expense   66,693    -    66,693 
Other general and administrative expenses   333,197    -    333,197 
Total Operating Expenses   395,312    -    395,312 
                
Loss From Operations   (395,258)   -    (395,258)
                
Other Income (Expense):               
Interest expense   (699,254)   (479,951)   (1,179,205)
Change in derivative liability for authorized shares shortfall   2,641,481    -    2,641,481 
Change in fair value of derivative liabilities   
-
    -    - 
Gain (loss) on settlement of convertible notes payable and accrued interest, warrants and accounts payable and cancelation of common shares in exchange for Series Y and Series Z preferred shares and cash   4,332,489    (5,923,248)   (1,590,759)
Gain on forgiveness of debt   
-
    
-
    
-
 
Gain (loss) on conversion of convertible notes   
-
    
-
    
-
 
Total Other Income (Expense)   6,274,716    (6,403,199)   (128,483)
                
Net Income (Loss) Before Income Taxes   5,879,458    (6,403,199)   (523,741)
                
Provision for Income Taxes (Benefit)   
-
    
-
    
-
 
                
Net Income (Loss)   5,879,458    (6,403,199)   (523,741)
                
Deemed dividend resulting from amortization of preferred stock discount   
-
    
-
    
-
 
Deemed dividend from warrant price protection   
-
    
-
    
-
 
                
Net Income (Loss) Available to Common Stockholders  $5,879,458   $(6,403,199)  $(523,741)
                
Net Income (Loss) Per Common Share:               
Basic  $
-
   $
-
   $- 
Diluted  $
-
   $
-
   $
-
 
                
Weighted Average Common Shares Outstanding:               
Basic   1,406,244,901    -    1,406,244,901 
Diluted   1,406,244,901    -    1,406,244,901 

 

   Nine Months
Ended
September 30,
2021
   Restatement
Adjustment
   Nine Months
Ended
September 30,
2021
 
   (As Reported)       (As Restated) 
             
Revenues  $1,660   $
-
   $1,660 
                
Operating Expenses:               
Cost of revenues   297    -    297 
Advertising   18,125    -    18,125 
Payroll and related expense   225,603    -    225,603 
Other general and administrative expenses   953,927    -    953,927 
Total Operating Expenses   1,197,952    -    1,197,952 
                
Loss From Operations   (1,196,292)   -    (1,196,292)
                
Other Income (Expense):               
Interest expense   (1,667,413)   (492,151)   (2,159,564)
Change in derivative liability for authorized shares shortfall   (159,633,797)   -    (159,633,797)
Change in fair value of derivative liabilities   300,885    -    300,885 
Gain (loss) on settlement of convertible notes payable and accrued interest, warrants and accounts payable and cancelation of common shares in exchange for Series Y and Series Z preferred shares and cash   179,272,324    (5,911,048)   173,361,276 
Gain on forgiveness of debt   192,521    -    192,521 
Gain (loss) on conversion of convertible notes   (880)   -    (880)
Total Other Income (Expense)   18,463,640    (6,403,199)   12,060,441 
                
Net Income (Loss) Before Income Taxes   17,267,348    (6,403,199)   10,864,149 
                
Provision for Income Taxes (Benefit)   
-
    
-
    
-
 
                
Net Income (Loss)   17,267,348    (6,403,199)   10,864,149 
                
Deemed dividend resulting from amortization of preferred stock discount   (34,798,923)   -    (34,798,923)
Deemed dividend from warrant price protection   
-
    
-
    
-
 
                
Net Income (Loss) Available to Common Stockholders  $(17,531,575)  $(6,403,199)  $(23,934,774)
                
Net Income (Loss) Per Common Share:               
Basic  $(0.01)  $(0.01)  $(0.02)
Diluted  $(0.01)  $(0.01)  $(0.02)
                
Weighted Average Common Shares Outstanding:               
Basic   1,405,511,082    -    1,405,511,082 
Diluted   1,405,511,082    -    1,405,511,082 

 

Schedule of cashflows
   Nine Months
Ended
September 30,
2021
   Restatement
Adjustment
   Nine Months
Ended
September 30,
2021
 
   (As Reported)       (As Restated) 
Cash flows from operating activities:            
Net income (loss)  $17,267,348   $(6,403,199)  $10,864,149 
Adjustments to reconcile net income (loss) to net cash used in operating activities:               
Change in fair value of derivative liabilities   (300,885)   
-
    (300,885)
Change in derivative liability for authorized shares shortfall   159,633,797    
-
    159,633,797 
Interest and amortization of debt discount   1,665,813    492,151    2,157,964 
(Gain) loss on conversion of convertible notes payable   880    
-
    880 
Gain on settlement of convertible notes payable and accrued interest, warrants and accounts payable and cancelation of common shares in exchange for Series Y and Series Z preferred shares and cash   (179,272,324)   5,911,048    (173,361,276)
Gain on forgiveness of debt   (192,521)   
-
    (192,521)
Share-based compensation   166,855    
-
    166,855 
Expenses paid directly by non-convertible note holder on behalf of company   -    158,371    158,371 
Changes in operating assets and liabilities:               
Prepaid expenses   97,132    
-
    97,132 
Accounts payable and accrued expenses   187,022    
-
    187,022 
Accrued payroll and related expenses   173,243    
-
    173,243 
Deferred revenue   25,000    
-
    25,000 
Net cash used in operating activities   (548,640)   158,371    (390,269)
                
Cash flows from financing activities:               
Bank overdrafts   
-
    
-
    
-
 
Proceeds from sale of Series X preferred shares   200,000    
-
    200,000 
Proceeds from issuance of convertible notes payable   
-
    
-
    
-
 
Proceeds from issuance of non-convertible notes payable   1,515,424    (1,158,371)   357,053 
Repayment of non-convertible notes payable   (25,000)   25,000    
-
 
Proceeds from advances   53,991    (25,000)   28,991 
Repayments of advances   (20,178)   
-
    (20,178)
Cash paid in settlement of debt and warrants   (1,176,000)   1,000,000    (176,000)
Net cash provided by financing activities   548,237    (158,371)   389,866 
                
Net decrease in cash   (403)   
-
    (403)
                
Cash, beginning of period   1,485    
-
    1,485 
                
Cash, end of period  $1,082   $
-
   $1,082 
                
Supplemental disclosures of cash flow information:               
Cash paid during period for interest  $1,600   $
-
   $1,600 
Cash paid during period for taxes  $
-
   $
-
   $
-
 
                
Supplemental disclosure of non-cash investing and financing activities:               
Amortization of discount on preferred stock  $34,798,923   $
-
   $34,798,923 
Common shares issued upon conversion of convertible notes and accrued interest  $133,002   $
-
   $133,002 
Series Y preferred shares issued as settlement for convertible notes payable, accrued interest and warrants  $1,314,678   $
-
   $1,314,678 
Issuance of common shares previously to be issued  $1,006   $
-
   $1,006 
Common shares contributed back to the Company and promptly retired  $
-
   $
-
   $
-
 
Deemed dividend related to warrant price protection  $
-
   $
-
   $
-
 
Derivative liability recognized as debt discount on newly issued convertible notes  $
-
   $
-
   $
-
 
Reclassify accrued interest to convertible notes payable  $93,685   $
-
   $93,685 
Reduction of derivative liabilities stemming from settlement of convertible notes payable, accrued interest and warrants in exchange for Series Y preferred shares  $4,834,911   $
-
   $4,834,911 
Reduction of derivative liabilities stemming from settlement of convertible notes payable and accrued interest and cancelation of common shares and warrants for cash  $169,815,037   $
-
   $169,815,037 
Series Z preferred shares issued as equity kicker for note payable  $387,262   $479,951   $867,213 
Series Z preferred shares issued as part of settlement agreement  $632,020   $5,898,848   $6,530,868 
Expenses paid directly by non-convertible note holder on behalf of company  $
-
   $158,371   $158,371 
Settlement paid directly by CEO on behalf of company  $
-
   $1,000,000   $1,000,000 
Settlement payment made directly by CEO on behalf of company  $
-
   $25,000   $25,000