XML 36 R28.htm IDEA: XBRL DOCUMENT v3.23.1
Summary of Significant Accounting Policies (Tables)
3 Months Ended
Mar. 31, 2023
Accounting Policies [Abstract]  
Schedule of fair value, assets and liabilities measured on recurring basis
                    
Description  Fair Value
As of
March 31, 2023
  Fair Value Measurements at
March 31, 2023
Using Fair Value Hierarchy
      Level 1  Level 2  Level 3
Conversion feature on convertible notes  $6,524,972   $   $6,524,972   $ 

 

Description   Fair Value
As of
December 31, 2022
  Fair Value Measurements at
December 31, 2022
Using Fair Value Hierarchy
        Level 1   Level 2   Level 3
Conversion feature on convertible notes   $ 1,714,143     $     $ 1,714,143     $  

Condensed financial statements
     
Assets of consolidated variable interest entity (“VIE”) included in the consolidated balance sheets as of March 31, 2023 (after elimination of intercompany transactions and balances) consist of:   
Current assets:     
Cash and equivalents  $56,807 
 Accounts Receivable    40,651 
Inventory   7,567 
Other current asset   556 
Total current assets  $105,581 
      
Liabilities of consolidated VIE included in the consolidated balance sheets above (after elimination of intercompany transactions and balances) consist of:     
Current liabilities     
Total current liabilities  $143,700 
      
Statements of operations of consolidated VIE included in the consolidated statements of operations above (after elimination of intercompany transactions and balances) consist of:     
Statements of operations     
 Sales  $217,785 
 Cost of goods sold   176,091 
 Gross profit   41,694 
 General and administrative expenses   32,096 
Net Income  $9,598 

 

         
Assets of consolidated variable interest entity (“VIE”) included in the consolidated balance sheets as of December 31, 2022 (after elimination of intercompany transactions and balances) consist of:    
Current assets:        
Cash and equivalents   $ 93,581  
Inventory     11,569  
Due From related party     20,270  
Total current assets   $ 125,420  
         
Liabilities of consolidated VIE included in the consolidated balance sheets above (after elimination of intercompany transactions and balances) consist of:        
Current liabilities        
Total current liabilities   $ 94,496  
         
Statements of operations of consolidated VIE included in the consolidated statements of operations above (after elimination of intercompany transactions and balances) consist of:        
Statements of operations        
 Sales   $ 1,107,555  
 Cost of goods sold     817,754  
 Gross profit     289,801  
 General and administrative expenses     330,647  
Net Loss   $ 40,846  
Schedule of anti dilutive securities excluded from computation of earnings per share
          
   March 31,  December 31,
   2023  2022
Series B preferred stock   45,000    45,000 
Series C preferred stock   700    700 
Series H preferred stock   20,000    20,000 
Warrants   70,770    70,770 
Convertible notes   23,322,777,667    3,949,223,831 
Total   23,322,914,137    3,949,360,301