10-Q/A

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 10-Q

Amendment#1

(Mark One)

[X]

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended

June 30, 2020

Or

[  ]

TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from

to

Commission File Number

000-54948

West Coast Ventures Group Corp.

(Exact name of registrant as specified in its charter)

Nevada

99-0377575

(State or other jurisdiction of incorporation or organization)

(IRS Employer Identification No.)

6610 Holman St., Suite 301, Arvada, Colorado

80004

(Address of principal executive offices)

(Zip Code)

(303) 423-1300

(Registrant’s telephone number, including area code)

(Former name, former address and former fiscal year, if changed since last report)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

[X]

YES

[  ]

NO

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).

[X]

YES

[ ]

NO

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer

[  ]

Accelerated filer

[  ]

Non-accelerated filer

[  ]

(Do not check if a smaller reporting company)

Smaller reporting company

[X]

Emerging growth company

[X]

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  [  ]

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act)

[  ]

YES

[X]

NO

APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS DURING THE PRECEDING FIVE YEARS Check whether the registrant has filed all documents and reports required to be filed by Sections 12, 13 or 15(d) of the Exchange Act after the distribution of securities under a plan confirmed by a court.
[  ]			YES	[  ]	NO
APPLICABLE ONLY TO CORPORATE ISSUERS
Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date.
Common shares issued and outstanding as of August 18, 2020:  3,452,755,288
Securities registered pursuant to Section 12(b) of the Act:
Title of Each Class	Trading Symbol(s)	Name of each exchange on which registered
N/A	N/A	N/A
Documents incorporated by reference: None

2

EXPLANATORY NOTE

The purpose of this Amendment No. 1 to the Registrant's Quarterly Report on Form 10-Q for the quarter ended June 30, 2020, filed with the Securities and Exchange Commission on August 19, 2020, is solely to furnish Exhibit 101 to the Form 10-Q in accordance with Rule 405 of Regulation S-T. Exhibit 101 to this report provides the consolidated financial statements and related notes from the Form 10-Q formatted in XBRL (eXtensible Business Reporting Language).

No other changes have been made to the Form 10-Q.  This Amendment No. 1 to the Form 10-Q speaks as of the original filing date of the Form 10-Q, does not reflect events that may have occurred subsequent to the original filing date, and does not modify or update in any way disclosures made in the original Form 10-Q.

Pursuant to Rule 406T of Regulation S-T, the interactive data files on Exhibit 101 hereto are deemed not filed or part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, as amended, are deemed not filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and otherwise are not subject to liability under those sections.

Item 6.  Exhibits

Exhibit Number	Description
(3)	Articles of Incorporation
3.1	Articles of Merger by and between the Company and its wholly owned subsidiary, West Coast Ventures Group Corp, filed with the Nevada Secretary of State on February 4, 2016. (filed with the SEC on May 12, 2017 as Exhibit 3.1 to the Company’s Annual Report on Form 10-K)
3.2	Certificate of Amendment of Articles of Incorporation, filed with the Nevada Secretary of State on February 4, 2016. (filed with the SEC on May 12, 2017 as Exhibit 3.2 to the Company’s Annual Report on Form 10-K)
(31)	Rule 13a-14 (d)/15d-14d) Certifications
31.1*	Section 302 Certification by the Principal Executive Officer
31.2*	Section 302 Certification by the Principal Financial Officer and Principal Accounting Officer
(32)	Section 1350 Certifications
32.1**	Section 906 Certification by the Principal Executive Officer, Principal Financial Officer and Principal Accounting Officer
101*	Interactive Data File
101.INS	XBRL Instance Document
101.SCH	XBRL Taxonomy Extension Schema Document
101.CAL	XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF	XBRL Taxonomy Extension Definition Linkbase Document
101.LAB	XBRL Taxonomy Extension Label Linkbase Document
101.PRE	XBRL Taxonomy Extension Presentation Linkbase Document
* Filed herewith. ** Furnished herewith.

3

SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	WEST COAST VENTURES GROUP CORP.
	(Registrant)
Dated:  August 27, 2020	/s/ James M. Nixon
	James M. Nixon
	President, Chief Executive Officer, Chief Financial Officer, Secretary and Director
	(Principal Executive Officer, Principal Financial Officer and Principal Accounting Officer)

4

EX-31.1

EXHIBIT 31.1

CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICER AND

PRINCIPAL FINANCIAL OFFICER

PURSUANT TO 18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO SECTION 302 OF THE

SARBANES-OXLEY ACT OF 2002

I, James Nixon, certify that;

1.

I have reviewed this quarterly report on Form 10-Q of West Coast Ventures Group Corp.;

2.

Based on my knowledge, this report, does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by the report;

3.

Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.

The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a)

Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b)

Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of condensed financial statements for external purposes in accordance with generally accepted accounting principles;

c)

Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d)

Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5.

The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a)

All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b)

Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

August 27, 2020

     By:    /s/ James Nixon

James Nixon,

Principal Executive and Financial Officer

EX-31.2

EXHIBIT 31.2

CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICER AND

PRINCIPAL FINANCIAL OFFICER

PURSUANT TO 18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO SECTION 302 OF THE

SARBANES-OXLEY ACT OF 2002

I, James Nixon, certify that;

1.

I have reviewed this quarterly report on Form 10-Q of West Coast Ventures Group Corp.;

2.

Based on my knowledge, this report, does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by the report;

3.

Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.

The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a)

Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b)

Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of condensed financial statements for external purposes in accordance with generally accepted accounting principles;

c)

Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d)

Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5.

The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a)

All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b)

Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

August 27, 2020

     By:    /s/ James Nixon

               James Nixon

               Principal Financial Officer

EX-32.1

EXHIBIT 32.1

CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICER AND

PRINCIPAL FINANCIAL OFFICER

PURSUANT TO 18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO SECTION 906 OF THE

SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of West Coast Ventures Group Corp. (the “Company”) on Form 10-Q the period ending June 30, 2020, as filed with the Securities and Exchange Commission (the “Report”), James Nixon, the Principal Executive and Financial Officer of the Company, certifies, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that to the best of his knowledge:

(1)

The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2)

The information contained in the Report fairly presents, in all material respects the financial condition and results of the Company.

August 27, 2020

 By:  /s/ James Nixon

 James Nixon,

 Principal Executive and Financial Officer

XML

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2020	Aug. 18, 2020
FIXED ASSETS [Abstract]
Entity Registrant Name	WEST COAST VENTURES GROUP CORP.
Document Type	10-Q/A
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		3,452,755,288
Amendment Flag	true
Amendment Description	Amendment #1
Entity Central Index Key	0001551906
Entity Current Reporting Status	Yes
Document Period End Date	Jun. 30, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity File Number	000-54948
Interactive Data Current	Yes
Incorporation State	NV

XML

Condensed Consolidated Balance Sheets (unaudited) - USD ($)	Jun. 30, 2020	Dec. 31, 2019
CURRENT ASSETS:
Cash	$ 634,007	$ 0
Receivables	108,131	71,045
Inventory	31,582	35,663
Prepaid expenses	31,740	31,268
Assets of discontinued operations	2,462	2,462
Total current assets	807,922	140,438
FIXED ASSETS
Equipment	569,715	569,715
Leasehold improvements	239,050	231,493
Total fixed assets	808,765	801,208
Less: accumulated depreciation	(407,788)	(342,249)
Net total fixed assets	400,977	458,959
OTHER ASSETS
Lease right of use asset	1,346,323	1,489,737
Deposits and other assets	43,642	43,374
Intangibles assets, net	150,584	163,154
Total other assets	1,540,549	1,696,265
Total assets	2,749,448	2,295,662
CURRENT LIABILITIES
Accounts payable	273,524	157,556
Accrued expenses	595,247	511,812
Operating leases, current portion	284,632	295,214
Stockholders loan	144,472	0
Fair value of derivative liabilities	795,880	2,740,054
Common stock issuable	5,382,108	533,218
Liabilities of discontinued operations	481,558	481,558
Total Current Liabilities	5,924,458	6,754,116
LONG TERM LIABILITIES
Long term notes payable to third parties	771,400	0
Operating leases, net of current portion	1,112,691	1,243,129
Total long-term liabilities	1,884,091	1,243,129
Total Liabilities	7,808,549	7,997,245
Stockholders' Deficit:
Series A Preferred stock, $0.001 par value, 10,000,000 shares authorized, 500,000 shares issued and outstanding	500	500
Common stock, $0.001 par value, authorized 250,000,000 shares; 3,109,519,939 and 918,470,359 shares issued and outstanding	3,109,520	918,470
Additional paid-in capital	350,596	2,334,634
Common stock subscription receivable	(39,200)	0
Accumulated deficit	(8,480,516)	(8,955,187)
Total Deficiency in Stockholders' Equity	(5,059,100)	(5,701,583)
Total Liabilities and Deficiency in Stockholders' Equity	$ 2,749,448	$ 2,295,662

XML

Condensed Consolidated Balance Sheets (unaudited) (Parenthetical) - $ / shares	Jun. 30, 2020	Dec. 31, 2019
Preferred Stock
Preferred stock par value (in Dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized (in Shares)	10,000,000	10,000,000
Preferred stock, shares issued (in Shares)	500,000	500,000
Preferred stock, shares outstanding (in Shares)	500,000	500,000
Common Stock
Common stock par value (in Dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in Shares)	10,000,000,000	10,000,000,000
Common stock, shares issued (in Shares)	3,109,519,939	918,470,359
Common stock, shares outstanding (in Shares)	3,109,519,939	918,470,359

XML

Condensed Consolidated Statements of Operations (unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
REVENUES
Restaurant revenue, net of discounts	$ 712,527	$ 944,424	$ 1,501,971	$ 1,784,039
Restaurant operating costs:
Cost of sale - food and beverage	229,686	278,033	482,578	578,425
Wages and payroll taxes	192,496	294,990	476,680	564,271
Occupancy	186,013	164,186	381,555	300,142
Other restaurant costs	101,896	157,578	192,831	270,161
Depreciation and amortization	38,617	17,646	77,234	36,424
General & administrative expenses	241,176	558,409	481,249	905,241
Total costs and expenses	989,884	1,470,842	2,092,127	2,654,664
Loss from operations	(277,357)	(526,418)	(590,156)	(870,625)
Other (income) expenses
Pre-opening expenses	0	52,329	0	52,329
Other Income	(36,000)	0	(36,000)	0
Initial and change in fair value of derivative	20,916	208,269	(1,897,020)	743,612
(Gain) on debt extinguishment	0	(77,385)	0	(95,160)
Interest expense	364,488	475,883	868,193	736,589
Total other expenses	349,404	659,096	(1,064,827)	1,437,370
(Loss) income before income taxes	(626,761)	(1,185,514)	474,671	(2,307,995)
Provision for income taxes	0	0	0	0
Net (loss) income	$ (626,761)	$ (1,185,514)	$ 474,671	$ (2,307,995)
Basic and diluted net (loss) per share	$ 0	$ (.02)	$ 0	$ (.05)
Weighted average shares outstanding	3,075,454,005	49,895,192	2,723,164,493	4,113,135

XML

Condensed Consolidated Statements of Deficiency in Stockholders' Equity (unaudited) - USD ($)	Common Stock	Preferred Stock	Additional Paid in Capital (Capital Deficiency)	Stock Subscription Receivable	Accumulated Deficit	Total
Beginning Balance, Shares at Dec. 31, 2018	33,906,532	500,000
Beginning Balance, Amount at Dec. 31, 2018	$ 33,907	$ 500	$ 1,256,827	$ 0	$ (3,661,874)	$ (2,370,640)
Shares issued as debt inducement, Shares	1,713,307
Shares issued as debt inducement, Amount	$ 1,713		88,287	0	0
Shares issued in settlement of debt, Shares	5,305,000
Shares issued in settlement of debt, Amount	$ 5,305		13,262	0	0
Net income				0	(1,122,481)
Ending Balance, Shares at Mar. 31, 2019	40,924,389	500,000
Ending Balance, Amount at Mar. 31, 2019	$ 40,925	$ 500	1,358,376	0	(4,784,355)	(3,384,554)
Beginning Balance, Shares at Dec. 31, 2018	33,906,532	500,000
Beginning Balance, Amount at Dec. 31, 2018	$ 33,907	$ 500	1,256,827	0	(3,661,874)	(2,370,640)
Shares issued as debt inducement, Amount						184,731
Net income						(2,307,995)
Ending Balance, Shares at Jun. 30, 2019	56,725,543	56,726
Ending Balance, Amount at Jun. 30, 2019	$ 500,000	$ 500	2,195,523	0	(5,969,869)	(3,717,120)
Beginning Balance, Shares at Mar. 31, 2019	40,924,389	500,000
Beginning Balance, Amount at Mar. 31, 2019	$ 40,925	$ 500	1,358,376	0	(4,784,355)	(3,384,554)
Shares issued for cash, Shares	1,247,449
Shares issued for cash, Amount	$ 1,247		65,877	0	0
Shares issued as debt inducement, Shares	1,933,333
Shares issued as debt inducement, Amount	$ 1,934		92,797	0	0
Shares issued for pre-paid rent, Shares	386,589
Shares issued for pre-paid rent, Amount	$ 387		26,133	0	0	26,520
Shares issued in settlement of debt, Shares	3,900,000
Shares issued in settlement of debt, Amount	$ 3,900		35,100	0	0
Stock issued for services, Shares	3,333,333
Stock issued for services, Amount	$ 3,333		236,000	0	0	239,333
Shares issued for fixed assets and cash, Shares	5,000,000
Shares issued for fixed assets and cash, Amount	$ 5,000		324,990	0	0	329,990
Beneficial Conversion feature			56,250	0	0	56,250
Net income					(1,185,514)	(1,185,514)
Ending Balance, Shares at Jun. 30, 2019	56,725,543	56,726
Ending Balance, Amount at Jun. 30, 2019	$ 500,000	$ 500	2,195,523	0	(5,969,869)	(3,717,120)
Beginning Balance, Shares at Dec. 31, 2019	918,470,359	500,000
Beginning Balance, Amount at Dec. 31, 2019	$ 918,470	$ 500	2,334,634	0	(8,955,187)	(5,701,583)
Shares issued for cash, Shares	56,000,000	0
Shares issued for cash, Amount	$ 56,000	$ 0	(16,800)	(39,200)	0	0
Shares issued in settlement of debt, Shares	2,035,049,580	0
Shares issued in settlement of debt, Amount	$ 2,035,050	$ 0	(1,873,238)	0	0	161,812
Net income			0	0	1,101,432	1,101,432
Ending Balance, Shares at Mar. 31, 2020	3,009,519,939	500,000
Ending Balance, Amount at Mar. 31, 2020	$ 3,009,520	$ 500	444,596	(39,200)	(7,853,755)	(4,438,339)
Beginning Balance, Shares at Dec. 31, 2019	918,470,359	500,000
Beginning Balance, Amount at Dec. 31, 2019	$ 918,470	$ 500	2,334,634	0	(8,955,187)	(5,701,583)
Shares issued as debt inducement, Amount						0
Net income						474,671
Ending Balance, Shares at Jun. 30, 2020	3,109,519,939	500,000
Ending Balance, Amount at Jun. 30, 2020	$ 3,109,520	$ 500	350,596	(39,200)	(8,480,516)	(5,059,100)
Beginning Balance, Shares at Mar. 31, 2020	3,009,519,939	500,000
Beginning Balance, Amount at Mar. 31, 2020	$ 3,009,520	$ 500	444,596	(39,200)	(7,853,755)	(4,438,339)
Shares issued in settlement of debt, Shares	100,000,000
Shares issued in settlement of debt, Amount	$ 100,000		(94,000)	0	0	6,000
Net income					(626,761)	(626,761)
Ending Balance, Shares at Jun. 30, 2020	3,109,519,939	500,000
Ending Balance, Amount at Jun. 30, 2020	$ 3,109,520	$ 500	$ 350,596	$ (39,200)	$ (8,480,516)	$ (5,059,100)

XML

Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$ 474,671	$ (2,307,995)
Adjustments to reconcile net loss to net cash provided by operations:
Non-cash debt inducement fee and share based compensation	0	360,308
Depreciation and amortization	77,234	36,424
Amortization of debt discounts	499,543	531,719
(Gain) on debt conversion and extinguishment	0	(95,160)
Initial and change in fair value of derivative	(1,897,020)	743,612
Cumulative change from implementing new accounting standard	0	26,866
Changes in operating assets:
(Increase) in receivables	(37,086)	(14,261)
Decrease (increase) in inventory	4,081	(11,216)
(Increase) in prepaid expenses	(472)	0
Changes in operating liabilities:
Increase in accounts payable	115,966	31,328
Increase in accrued expenses	83,467	101,274
Net cash used in operating activities	(679,616)	(597,101)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of fixed assets	(7,557)	(32,649)
Purchase of intangible assets	0	(68,121)
Net cash used in investing activities	(7,557)	(100,770)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from the sale of shares	0	67,124
Proceeds from issuance of convertible notes payable for cash	0	1,009,000
Repayment of convertible notes payable	0	(604,992)
Proceeds from third party for shares to be issued	5,000	250,000
Proceeds from stockholder loan payable	247,548	0
Repayments on stockholder loan payable	(66,576)	(1,800)
Proceeds from third party notes payable	1,167,136	375,000
Payments on third party notes payable	(31,928)	(118,596)
Net cash provided by financing activities	1,321,180	975,736
Net increase in cash	634,007	277,865
CASH, beginning of period	0	9,635
CASH, end of period	634,007	287,500
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Cash paid for interest	93,290	43,600
Cash paid for income taxes	0	0
Non-Cash Financing Activities:
Issuance of common stock as inducement fee	0	184,731
Issuance of common stock in settlement of debt	$ 167,812	$ 57,568

XML

NOTE 1 - NATURE OF OPERATIONS

6 Months Ended

Jun. 30, 2020

Organization, Consolidation and Presentation of Financial Statements [Abstract]

(1) NATURE OF OPERATIONS

(1) NATURE OF OPERATIONS

West Coast Ventures Group Corp. (“our”, “us”, “we”, “WCVC” or the “Company”) was originally incorporated as Energizer Tennis, Corp. on June 16, 2011 in the State of Nevada. On October 4, 2017, effective for accounting purposes on June 30, 2017, WCVC entered into an agreement to acquire Nixon Restaurant Group, Inc. in a transaction accounted for as a reverse acquisition. Nixon Restaurant Group, Inc. (“NRG”) was formed on October 12, 2015, under the laws of the State of Florida. On October 19, 2015, NRG issued 20 million shares of common stock to acquire 100% of the ownership interests in J&F Restaurants, LLC, Illegal Burger, LLC and Illegal Burger Writer Square LLC, Colorado Limited Liability Companies, under common ownership. The transaction was accounted for as a corporate reorganization between entities under common control.

The Company operates 6 restaurants in the Denver, Colorado metro area and 1 restaurant in the Ft. Lauderdale, Florida metro area. Kalaka Mexican Kitchen (f/k/a El Senor Sol) - Evergreen is a Mexican restaurant which was opened in 2011. The Company opened the first Illegal Burger restaurant in August 2013. It is co-located with the El Senor Sol restaurant. The second Illegal Burger was opened in Arvada in April 2014. The third Illegal Burger is located in Writer Square in downtown Denver and opened in January 2016. The fourth Illegal Burger is located in the Capital Hill area of Denver and opened in June 2016.The fifth Illegal Burger is located in Glendale area of Denver and opened in October 2018. The first of the Company’s newest concept - Illegal Pizza - opened in Lauderhill, Florida in June 2019. The Company plans to continue opening Illegal Burger and Illegal Pizza restaurants, a quick casual high end restaurant with full liquor licenses. The Company expects to locate in other areas of the country over time.

The Company completed its Illegal Burger Franchise Offering documents in May 2019. Illegal Burger Franchising has retained a marketing group to assist with the startup of its offering of franchises and to pre-qualify potential franchisees. The Company hopes to have its first franchise sales in the third quarter 2020.

The Company began its operations in Illegal Brands in June 2019, offering its own branded CBD infused water and CBD powder packets, first through its restaurant locations. Illegal Brands expects to offer these products to third parties on a wholesale basis.

The accompanying condensed consolidated financial statements include the activities of West Coast Ventures Group Corp., Nixon Restaurant Group, Inc., J&F Restaurant, LLC (Kalaka and Illegal Burger Evergreen), Illegal Burger, LLC (Arvada), Illegal Burger Writer Square, LLC, Illegal Burger Capital Hill, LLC, Illegal Burger CitiSet, LLC, Illegal Pizza, LLC, Illegal Brands, LLC, Illegal Burger Franchising, LLC and Illegal Brands IP, LLC, its wholly owned subsidiaries.

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NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

6 Months Ended

Jun. 30, 2020

Accounting Policies [Abstract]

(2) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

(2) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

a) Basis of Presentation

The comparative amounts presented in these condensed consolidated financial statements are the historical results of West Coast Ventures Group, Corp. inclusive of its wholly owned subsidiaries Nixon Restaurant Group, Inc.; J&F Restaurant, LLC; Illegal Burger, LLC; Illegal Burger Writer Square, LLC; Illegal Burger Capital Hill, LLC, Illegal Burger CitiSet, LLC, Illegal Pizza Lauderhill, LLC, Illegal Brands, LLC, Illegal Burger Franchising, LLC and Illegal Brands IP, LLC. All intercompany balances and transactions have been eliminated in consolidation.

The accompanying unaudited condensed consolidated interim financial statements have been prepared in accordance with Generally Accepted Accounting Principles ("GAAP") in the United States of America ("U.S.") as promulgated by the Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") and with the rules and regulations of the U.S. Securities and Exchange Commission ("SEC"). In our opinion, the accompanying unaudited interim financial statements contain all adjustments (which are of a normal recurring nature) necessary for a fair presentation. Operating results for the six months ended June 30, 2020 are not necessarily indicative of the results that may be expected for the year ending December 31, 2020.

b) Use of Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates. Significant estimates in the accompanying consolidated financial statements involved the valuation of share-based compensation and derivatives.

c) Property and Equipment

All property and equipment are recorded at cost and depreciated over their estimated useful lives, generally three, five or seven years, using the straight-line method. Upon sale or retirement, the cost and related accumulated depreciation are removed from their respective accounts, and the resulting gain or loss is included in the results of operations. Repairs and maintenance charges, which do not increase the useful lives of the assets, are charged to operations as incurred.

d) Pre-opening Expenses

The Company accumulates the non-capitalizable expenses, such as rent, staffing and training, prior to opening a new location and reports them on a separate line item in the Consolidated Statement of Operations such that these costs do not skew results from ongoing restaurant operations. Beginning in the month in which a new location opens all ongoing expenses are then included with ongoing restaurant operations.

e) Operating Leases

Effective January 1, 2019, the Company adopted Accounting Standards Update (ASU) 2016-02, Leases (Topic 842) which supersedes the lease accounting requirements in Accounting Standards Codification (ASC) 840, Leases (Topic 840). Please refer to Recent Accounting Pronouncements below for additional information on the adoption of Topic 842 and the impact upon adoption to the Company’s condensed consolidated financial statements.

Under Topic 842, we applied a dual approach to all leases whereby we are a lessee and classify leases as either finance or operating leases based on the principle of whether or not the lease is effectively a financed purchase by the Company. Lease classification is evaluated at the inception of the lease agreement. Regardless of classification, we record a right-of-use asset and a lease liability for all leases with a term greater than 12 months. Our leases, for the premises we occupy for the Illegal Burger Arvada, Illegal Burger Writer Square, Illegal Burger Capital Hill, Illegal Burger CitiSet, Illegal Pizza Lauderhill and the corporate office were classified as operating leases as of June 30, 2020. Operating lease expense is recognized on a straight-line basis over the term of the lease.

The Company identifies leases in our contracts if the contract conveys the right to control the use of identified property or equipment for a period of time in exchange for consideration. We do not allocate lease consideration between lease and non-lease components and record a lease liability equal to the present value of the remaining fixed consideration under the lease. Any interest rate implicit in our leases are generally not readily determinable. Accordingly, we use our estimated incremental borrowing rate at the commencement date of the lease to determine the present value discount of the lease liability. We estimate the incremental borrowing rate for each lease based on an evaluation of our expected credit rating and the prevailing market rates for collateralized debt in a similar economic environment with similar payment terms and maturity dates commensurate with the term of the lease. The right-of-use asset for each lease is equal to the lease liability, adjusted for unamortized initial direct costs and lease incentives. We exclude options to extend or terminate leases from the calculation of the lease liability unless it is reasonably certain the option will be exercised.

f) Net Income (Loss) Per Share

Basic income (loss) per share excludes dilution and is computed by dividing the income (loss) attributable to stockholders by the weighted-average number of shares outstanding for the period. Diluted income (loss) per share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that shared in the earnings of the Company. Diluted income (loss) per share is computed by dividing the loss available to stockholders by the weighted average number of shares outstanding for the period and dilutive potential shares outstanding unless consideration of such dilutive potential shares would result in anti-dilution. The dilutive common stock equivalents were 20,993,851,521 and zero for the six months ended June 30, 2020 and 2019.

g) Income Taxes

The Company follows the provisions of ASC 740-10, Accounting for Uncertain Income Tax Positions. When tax returns are filed, it is highly certain that some positions taken would be sustained upon examination by the taxing authorities, while others are subject to uncertainty about the merits of the position taken or the amount of the position that would be ultimately sustained. In accordance with the guidance of ASC 740-10, the benefit of a tax position is recognized in the financial statements in the period during which, based on all available evidence, management believes it is more likely than not that the position will be sustained upon examination, including the resolution of appeals or litigation processes, if any. Tax positions taken are not offset or aggregated with other positions. Tax positions that meet the more-likely-than-not recognition threshold are measured as the largest amount of tax benefit that is more than 50 percent likely of being realized upon settlement with the applicable taxing authority. The portion of the benefits associated with tax positions taken that exceeds the amount measured as described above should be reflected as a liability for unrecognized tax benefits in the accompanying consolidated balance sheets along with any associated interest and penalties that would be payable to the taxing authorities upon examination.

The tax years 2018, 2017 and 2016 for the Company remain open for IRS audit. The Company has received no notice of audit or any notifications from the IRS for any of the open tax years.

h) Cash and Cash Equivalents

The Company considers all highly liquid securities with original maturities of three months or less when acquired, to be cash equivalents. The Company had no financial instruments that qualified as cash equivalents.

i) Financial Instruments and Fair Value Measurements

ASC 825-10 “Financial Instruments”, allows entities to voluntarily choose to measure certain financial assets and liabilities at fair value (fair value option). The fair value option may be elected on an instrument-by-instrument basis and is irrevocable, unless a new election date occurs. If the fair value option is elected for an instrument, unrealized gains and losses for that instrument should be reported in earnings at each subsequent reporting date. The Company did not elect to apply the fair value option to any outstanding instruments.

ASC 825 also requires disclosures of the fair value of financial instruments. The carrying value of the Company’s current financial instruments, which include cash and cash equivalents, accounts payable and accrued liabilities approximates their fair values because of the short-term maturities of these instruments.

FASB ASC 820 “Fair Value Measurement” clarifies that fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. It also requires disclosure about how fair value is determined for assets and liabilities and establishes a hierarchy for which these assets and liabilities must be grouped, based on significant levels of inputs as follows:

Level 1: Quoted prices in active markets for identical assets or liabilities.

Level 2: Quoted prices in active markets for similar assets and liabilities and inputs that are observable for the asset or liability.

Level 3: Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions.

The determination of where assets and liabilities fall within this hierarchy is based upon the lowest level of input that is significant to the fair value measurement.

j) Derivatives

The Company evaluates its convertible debt, options, warrants or other contracts to determine if those contracts or embedded components of those contracts qualify as derivatives to be separately accounted for. The result of this accounting treatment is that under certain circumstances the fair value of the derivative is marked-to-market each balance sheet date and recorded as a liability. In the event that the fair value is recorded as a liability, the change in fair value is recorded in the statement of operations as other income or expense. Upon conversion, payment or exercise of a convertible note containing an embedded derivative instrument, the instrument is marked to fair value at the conversion date and the debt and derivative are removed from the balance sheet, The shares issued upon conversion of the note are recorded at their fair value and any gain or loss on extinguishment is recognized in earnings.

Equity instruments that are initially classified as equity that become subject to reclassification under this accounting standard are reclassified to liability at the fair value of the instrument on the reclassification date.

k) Impairment of Long-Lived Assets

A long-lived asset is tested for impairment whenever events or changes in circumstances indicate that its carrying value amount may not be recoverable. An impairment loss is recognized when the carrying amount of the asset exceeds the sum of the undiscounted cash flows resulting from its use and eventual disposition. The impairment loss is measured as the amount by which the carrying amount of the long-lived assets exceeds its fair value.

l) Related Party Transactions

All transactions with related parties are in the normal course of operations and are measured at the exchange amount.

m) Recent Accounting Pronouncements

On January 1, 2019, the Company adopted ASU 2016-02, “Leases” which, for operating leases, requires a lessee to recognize a right-of-use asset and a lease liability, initially measured at the present value of the lease payments, in its balance sheet. The standard also requires a lessee to recognize a single lease cost, calculated so that the cost of the lease is allocated over the lease term, on a generally straight-line basis. The adoption of ASU 2016-02 resulted in the Company’s recognition of right to use assets and associated obligations on its balance sheet.

n) Revenue Recognition

The Company adopted Accounting Standards Codification, (“ASC”), 606, “Revenue from Contracts with Customer” on January 1, 2018. This revenue recognition standard has a five step process: a) Determine whether a contract exists; b) Identify the performance obligations; c) Determine the transaction price; d) Allocate the transaction price; e) Recognize revenue when (or as) performance obligations are satisfied. The Company’s principal operations are the operation of quick casual restaurants wherein the customer pays for their food upon placing the order. The Illegal Brands operations are the sale of CBD infused water and CBD soluble packets which at present are only sold in the Company’s restaurants. The franchise operations have yet to sell a franchise, but upon such sales will follow the appropriate revenue recognition procedures.

The Company’s financial statements are prepared under the accrual method of accounting. Revenues are recognized when pervasive evidence of an arrangement exists, services have been rendered (product delivered), the sales price is fixed or determinable, and collectability is reasonably assured. This occurs only when the product(s) is ordered and subsequently delivered.

o) Inventories

Inventories consist of food, beverages, and supplies valued at the lower of cost (first-in, first-out method) or net realizable value.

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NOTE 3 - LIQUIDITY AND GOING CONCERN CONSIDERATIONS

6 Months Ended

Jun. 30, 2020

Note 3 - Liquidity And Going Concern Considerations

(3) LIQUIDITY AND GOING CONCERN CONSIDERATIONS

(3) LIQUIDITY AND GOING CONCERN CONSIDERATIONS

Our condensed consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of business. We realized net income of approximately $0.5 million for the six months ended June 30, 2020 and have an accumulated deficit of approximately $8.5 million and a negative working capital of approximately $5.1 million at June 30, 2020, inclusive of current indebtedness. These conditions raise substantial doubt about our ability to continue as a going concern.

Failure to successfully continue to grow restaurant operation revenues could harm our profitability and materially adversely affect our financial condition and results of operations. We face all of the risks inherent in a new business, including the need for significant additional capital, management’s potential underestimation of initial and ongoing costs, and potential delays and other problems in connection with establishing and opening restaurant operations.

We are continuing our plan to further grow and expand restaurant operations and seek sources of capital to pay our contractual obligations as they come due. Management believes that its current operating strategy will provide the opportunity for us to continue as a going concern as long as we are able to obtain additional financing; however, there is no assurance this will occur. The accompanying consolidated financial statements do not include any adjustments that might be necessary if we are unable to continue as a going concern.

The independent auditors’ report on our consolidated financial statements for the years ended December 31, 2019 contained an explanatory paragraph expressing substantial doubt as to our ability to continue as a going concern.

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NOTE 4 - FIXED ASSETS

6 Months Ended

Jun. 30, 2020

Property, Plant and Equipment [Abstract]

(4) FIXED ASSETS

(4) FIXED ASSETS

Fixed assets consisted of the following:

	June 30, 2020	December 31, 2019
Equipment	$ 569,715	$ 569,715
Leasehold improvements	239,050	231,493
Total	$ 808,765	$ 801,208
Accumulated depreciation	(407,788)	(342,249)
Ending Balance	$ 400,977	$ 458,959

Depreciation expense was $65,539 and $29,827 for the six months ended June 30, 2020 and 2019, respectively.

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NOTE 5 - INTANGIBLE ASSETS

6 Months Ended

Jun. 30, 2020

Finite-Lived Intangible Assets, Net [Abstract]

(5) INTANGIBLE ASSETS

(5) INTANGIBLE ASSETS

Intangible assets consisted of the following:

	June 30, 2020	December 31, 2019
Leasehold rights	$ 175,000	$ 175,000
Liquor licenses	11,913	12,789
Franchise offering documents	16,000	16,000
Franchise sales website	16,500	16,500
Trademarks	9,100	9,100
Total	$ 228,513	$ 229,389
Accumulated amortization	(77,929)	(66,235)
Ending Balance	$ 150,584	$ 163,154

Amortization expense was $11,695 and $6,597 for the six months ended June 30, 2020 and 2019, respectively.

The following table presents the estimated aggregate future amortization expense of intangible assets:

2020 (six months)	$ 11,695
2021	21,140
2022	20,997
2023	20,997
2024	20,997
Thereafter	54,758
	$ 150,584

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NOTE 6 - NET ACQUIRED LIABILITIES OF DISCONTINUED OPERATIONS

6 Months Ended

Jun. 30, 2020

Notes to Financial Statements

(6) NET ACQUIRED LIABILITIES OF DISCONTINUED OPERATIONS

(6) NET ACQUIRED LIABILITIES OF DISCONTINUED OPERATIONS

As a result of the reverse acquisition on October 4, 2017, we acquired approximately $0.5 million of liabilities, net of assets, of the former operations of West Coast Ventures Group Corp. (which have been discontinued). During 2017 we issued 3,000,000 shares of our common stock to extinguish $30,000 of indebtedness. We are evaluating the means to relieve the Company of these liabilities.

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NOTE 7 - STOCKHOLDER LOAN

6 Months Ended

Jun. 30, 2020

Related Party Transactions [Abstract]

(7) STOCKHOLDER LOAN

(7) STOCKHOLDER LOAN

From time to time the principal stockholder of the Company has loaned funds to the Company on an undocumented basis with no stated interest rate. These loans were made principally to complete the conversion of the Illegal Burger - Arvada (2014), Illegal Burger - Writer Square (2015 and 2016), Illegal Burger Capital Hill (2016) and Illegal Burger CitiSet (2018) locations. This stockholder loan balance was $144,472 and $0 at June 30, 2020 and December 31, 2019, respectively.

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NOTE 8 - DERIVATIVES

6 Months Ended

Jun. 30, 2020

Notes to Financial Statements

NOTE 8 - DERIVATIVES

(8) DERIVATIVES

The following is the Company’s assets and liabilities measured at fair value on a recurring and nonrecurring basis at June 30, 2020 and December 31, 2019, using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3):

	June 30, 2020		December 31, 2019
Level 3 - Embedded Derivative Liabilities	$	795,880	$	2,740,054

Changes in Level 3 assets measured at fair value for the three months ended March 31, 2020 were as follows:

Balance, December 31, 2019	$	2,740,054
Portion of initial valuation recorded as debt discount		-
Change upon conversion or settlement		(47,154)
Change in fair value of derivative		(1,897,020)
Balance, June 30, 2019	$	795,880

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NOTE 9 - NOTES PAYABLE TO THIRD PARTIES

6 Months Ended

Jun. 30, 2020

Debt Disclosure [Abstract]

(9) NOTES PAYABLE TO THIRD PARTIES

(9) NOTES PAYABLE TO THIRD PARTIES

Notes Payable consist of:

						Look	Balance
Inception	Issue	Maturity		Interest	Conversion	Back	June 30,	December
Amount	Date	Date	OID	Rate	Price	Period	2020	31, 2019
a) Sale of Future Receivables
	various	various	-	-	-	-	$ 267,608	$ 309,311
b) Notes
$ 25,903	10/1/18	6/4/20	-	17%	-	-	-	3,372
$ 4,100	10/22/18	10/22/20	-	-	-	-	-	2,327
$ 14,800	6/5/18		-	-	-	-	8,505	10,219
$ 100,000	4/10/19	4/10/20	-	20%	-	-	104,603	114,630
							$ 113,108	$ 130,548
c) Convertible Notes - Variable Conversion Rate
$ 30,000	6/14/17	12/14/17	-	10%	35%	3 days	34,597	33,600
$ 50,000	4/16/19	1/16/20	10%	12%	45%	20 days	330	330
$ 153,000	5/28/19	5/24/20	-	12%	45%	20 days	39,543	72,105
$ 118,750	6/24/19	3/17/20	-	12%	50%	25 days	105,374	123,868
$ 50,000	6/28/19	3/27/20	10%	12%	45%	20 days	47,659	49,427
$ 50,000	6/28/19	3/27/20	10%	12%	45%	20 days	51,992	57,652
$ 50,000	6/28/19	3/27/20	10%	12%	45%	20 days	61,300	57,779
$ 103,000	7/1/19	6/27/20	-	12%	45%	20 days	115,394	109,197

						Look	Balance
Inception	Issue	Maturity		Interest	Conversion	Back	June 30,	December
Amount	Date	Date	OID	Rate	Price	Period	2020	31, 2019
c) Convertible Notes - Variable Conversion Rate, continued
$ 108,000	7/5/19	6/30/20	11.11%	12%	45%	20 days	129,438	132,699
$ 103,000	7/10/19	7/10/20	10%	8%	45%	20 days	96,255	121,862
$ 75,000	8/7/19	5/7/20	-	12%	50%	10 days	77,046	73,600
$ 70,000	8/7/19	5/7/20	12%	12%	40%	20 days	83,088	77,172
$ 90,000	8/8/19	8/8/20	-	10%	43%	20 days	92,938	96,914
$ 135,000	8/12/19	7/10/20	11%	8%	45%	20 days	162,352	160,160
$ 53,000	10/31/19	8/15/20	-	12%	45%	20 days	56,351	53,709
$ 18,235	12/13/19	12/13/20	9%	10%	35%	25 days	19,696	18,394
Subtotal Convertible Notes - Variable Conversion Rate							1,167,895	1,238,468
Less unamortized discounts							(49,870)	(553,646)
Net Convertible Notes - Variable Conversion Rate							$ 1,118,025	$ 684,822
d) Convertible Notes - Fixed Conversion Rate
$ 87,522	7/3/18	12/31/20	-	12%	$0.0035	-	23,358	22,039
$ 54,445	7/10/18	12/31/21	-	8%	$0.0035	-	61,500	59,406
$ 33,504	8/10/18	12/31/21	-	12%	$0.0035	-	39,465	37,551
$ 80,044	8/7/19	12/31/21	-	12%	$0.0035	-	39,664	37,866
$ 100,000	4/10/19	4/10/20	-	20%	$.05	-	104,603	114,630
Subtotal Convertible Notes - Fixed Conversion Rate							268,590	271,492
Less unamortized discounts							(4,196)	(76,465)
Net Convertible Notes - Variable Conversion Rate							$ 264,394	$ 195,027
e) Note of Wholly Owned Subsidiary
$ 375,000	3/5/15	12/5/15	-	18%	-	-	$ 538,896	$ 438,220

a) Future Receivables Sale Agreements

The Company, through Nixon Restaurant Group, Inc, J&F Restaurants, LLC, Illegal Burger, LLC, Illegal Burger Writer Square, LLC, Illegal Burger Capitol Hill, LLC and Illegal Burger CitiSet, LLC entered into several agreements at various times to obtain advances against future restaurant credit/debit card sales. The agreements provide for funding of various percentages of future qualified credit/debit merchant card receivables. Proceeds received from sales of future receivables during 2019 and 2018 totaled $415,000 and $140,000, respectively. At June 30, 2020 and December 31, 2019, the total payable balances inclusive of interest under the factoring agreements were $499,353 and $450,258, respectively.

b) One Year Note

In April 2019, the Company entered into a one year note for $100,000 with a third party. This note carries a 20% interest rate and is collateralized by a second mortgage on the founder and CEO’s residence. The loan balance, including interest, was $104,603 at June 30, 2020. In June 2020, the lender agreed to extend the maturity one year in exchange for the Company paying the first year accrued interest of $20,000.

c) Convertible Notes - Variable Conversion

In the fourth quarter 2019, the Company entered into two convertible notes in exchange for $73,000 in cash with a principal amount of $73,000. Based on the variable conversion terms the beneficial conversion rights embedded in these convertible notes were recorded as a derivative liability in the amount of $73,000 with a related debt discount of $73,000.

In the third quarter 2019, the Company entered into six convertible notes in exchange for $567,000 in cash with a principal amount of $609,400. Based on the variable conversion terms the beneficial conversion rights embedded in these convertible notes were recorded as a derivative liability in the amount of $960,354 with a related debt discount of $609,400, and an immediate loss of $281,945.

In the third quarter 2019, the Company paid off three convertible notes in cash in the amount of $472,093.

In the second quarter 2019, the Company entered into nine convertible notes in exchange for $591,000 in cash with a principal amount of $669,000. Based on the variable conversion terms the beneficial conversion rights embedded in these convertible notes were recorded as a derivative liability in the amount of $891,345 with a related debt discount of $602,580, and an immediate loss of $291,355.

In the second quarter 2019, the Company paid off three convertible notes in cash in the amount of $504,812.

In the first quarter 2019, the Company entered into five convertible notes in exchange for $424,000 in cash. Based on the variable conversion terms the beneficial conversion rights embedded in these convertible notes were recorded as a derivative liability in the amount of $467,348 with a related debt discount of $432,166, and an immediate loss of $35,182.

In the first quarter 2019, the Company paid off two convertible notes in cash in the amount of $101,181.

In the fourth quarter 2018, the Company entered into two convertible notes in exchange for $238,000 in cash. Based on the variable conversion terms the beneficial conversion rights embedded in these convertible notes has been recorded as a derivative liability in the amount of $189,380, with a related debt discount of $138,000, and an immediate loss of $51,380. These notes were settled in 2019.

In the third quarter 2018, the Company entered into two convertible notes in exchange for $68,000 in cash. Based on the variable conversion terms the beneficial conversion rights embedded in these convertible notes has been recorded as a derivative liability in the amount of $151,769, with a related debt discount of $68,000, and an immediate loss of $83,763. These notes were settled in 2019.

In the first quarter 2018, the Company entered into three convertible notes in exchange for $280,000 in cash. Based on the variable conversion terms the beneficial conversion rights embedded in these convertible notes has been recorded as a derivative liability in the amount of $306,000, with a related debt discount of $306,000. These notes were settled in 2018, and which included a penalty of $40,528.

d) Convertible Notes - Fixed Conversion

In the third quarter 2019, the Company entered into one convertible note in exchange for $108,000 in cash with a note amount of $120,000. Based on the conversion terms the beneficial conversion rights embedded in this convertible note was recorded as a debt discount in the amount of $28,800.

In the second quarter 2019, the Company entered into one convertible note in exchange for $100,000 in cash. This note matures in one year and carry a 20% interest rates. The note converts into shares of the Company’s common stock at a price of $0.04 per share of Common Stock from October 10, 2019 to maturity. At maturity it is convertible at $0.05 per share as long as Company’s Volume Weighted Average Price, (“VWAP”) for the ten trading days prior to the conversion notice is greater than $0.07 per share. If the VWAP is below $0.07, then the conversion formula is $0.05xVWAP/$0.07. Based on the conversion terms the beneficial conversion rights embedded in this convertible note was recorded as a debt discount in the amount of $56,250 and is being amortized over the life of the loan. In June 2020, the lender agreed to extend the maturity one year in exchange for the Company paying the first year accrued interest of $20,000.

During the third quarter of 2018, two parties related to each other purchased, through assignment, three of the variable conversion price convertible notes then outstanding. These parties immediately amended the notes into four notes to replace the variable conversion rate with a fixed conversion rate of $0.0035 per share of the Company’s common stock. The maturity dates of the three notes were extended to December 31, 2020 and 2021. During 2019, $82,831 of these notes were converted into 23,665,964 shares of common stock. The aggregate remaining balance outstanding of these notes at December 31, 2019 is $156,862.

During the fourth quarter of 2018, one of the parties that purchased one of the variable conversion price convertible notes assigned $50,000 of their note to a third party for $50,000 in cash. This new party immediately amended the assigned note portion to a fixed conversion rate of $0.01 per share of the Company’s common stock. The maturity date of this note was extended to December 31, 2021. During the second and third quarters of 2019 this note was converted into 5,000,000 shares of common stock, and the balance of this note is $0 at December 31, 2019.

In the fourth quarter 2018, the Company entered into a convertible note in exchange for $100,000 in cash. This note matures in two years and carries a 10% Original Issue Discount (OID). The note converts into shares of the Company’s common stock at a price of $0.05 per share. In the second quarter 2019, this note was paid in full in cash. The balance of this note is $0 at December 31, 2019.

e) Third Party Note Payable with Subsidiary

In March 2015, the Company entered into an agreement with a third party lender, who extended a $3,000,000 Senior Secured Note. Under the terms of this agreement a first draw was entered into in the amount of $375,000 as a Revolving Note. The lender retained $59,713 of this draw as fees. Under the terms of this Note, the Company was required to replace their credit card/debit card merchant processing to the lender. The lender retained 100% of the credit card/debit card transactions, and forwarded four wire transfers to the Company over a six week period. The credit card/debit card transactions for this six week period amounted to $84,534. The lender remitted $42,379 of this amount to the Company. Of the $42,155 retained by the lender, $14,861 was applied as principal reduction, $7,088 was applied to interest expense and the remaining $20,206 was charged as fees. The Senior Secured Note also called for the payment of a $75,000 investment banking fee.

In May 2015, when it was determined that this repayment structure was not practical for a restaurant operation, the lender agreed to restructure the Revolving Note into a Replacement Promissory Note. This Replacement Promissory Note carries interest at a stated rate of 18% with a maturity of June 1, 2016. The lender charged the Company a $25,000 penalty to convert the Revolving Note into a Replacement Promissory Note. The Replacement Promissory Note called for interest only payments in June, July and August 2015. Starting in September the terms called for the payment of interest, principal starting at $33,649 increasing monthly to $38,474 in June 2016, as the interest on the then outstanding balance fell. In addition, the Replacement Promissory Note called for the payment of a $106,000 Redemption Premium as part of the total monthly payment of $49,651. As a direct result of delays in opening the new Writer Square location, the lender agreed to interest only payments via ACH draft every Monday. In June 2015, the Company paid $1,080 per week, which was increased to $1,200 per week for July 1 through October 15, 2015. It was then increased to $1,500 per week from October 16, 2015 through the third week of March 2016, when it was increased to $2,000 per week.

At both March 31, 2020 and December 31, 2019, the principal balance of the loan was $322,220. The Company also accrued the $25,000 conversion penalty, the $75,000 investment banking fee and the $106,000 redemption premiums as accrued interest because the Replacement Promissory Note allows for prepayment but all these “Fees” are due upon prepayment. In October 2018, the lender filed a claim demanding repayment of all amounts outstanding in the amount of $565,267. (See Note 16a)

f) Third Party Notes Payable

Certain third parties have advanced funds to WCVC to fund its ongoing operations. These advances have been formalized into demand notes payable, which, at September 30, 2017, amount to $54,039 and carry a 5% interest rate. WCVC has a $250,000 note payable which is due in April 2018 and carries a 5% interest rate. These liabilities have been incorporated into liabilities from discontinued operations.

g) US Small Business Administration Paycheck Protection Program (PPP)

In April 2020, the Company received a loan of $298,700 under the SBA’s PPP. Depending upon the final determination of the requirements for forgiveness under this program, the Company expects its PPP loan to be substantially to wholly forgiven. Any amount not forgiven becomes a two year loan at 1% interest.

h) US Small Business Administration Economic Injury Disaster Loans (EIDL)

In May 2020, the Company, through one of its operating LLC subsidiaries, received a SBA EIDL in the amount of $21,900. In June 2020, the Company, through five of its operating LLC subsidiaries received five SBA EIDL in the total amount of $747,500 and EIDL Grants totaling $36,000. The EIDL are 30 year loans carrying a 3.25% interest rate with the first payment due in June 2021. The Grants do not get repaid.

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NOTE 10 - OPERATING LEASES

6 Months Ended

Jun. 30, 2020

Leases [Abstract]

(10) OPERATING LEASES

(10) OPERATING LEASES

a) Adoption of ASC Topic 842, Leases

On January 1, 2019, the Company adopted Topic 842 using the modified retrospective method applied to leases that were in place as of January 1, 2019. Results for reporting periods beginning after January 1, 2019 are presented under Topic 842, while prior period amounts are not adjusted and continue to be reported in accordance with our historic accounting under Topic 840. The Company’s leases consist of operating leases that relate to real estate rental agreements. All of the value of the Company’s lease portfolio relates to real estate lease agreements that were entered into starting in May 2014.

b) Practical Expedients and Elections

The Company elected the package of practical expedients permitted under the transition guidance, which allowed us to carryforward our historical lease classification, our assessment on whether a contract is or contains a lease, and our initial direct costs for any leases that exist prior to adoption of the new standard. We also elected the short-term lease recognition exemption for all leases that qualify.

c) Discount Rate Applied to Property Operating Lease

To determine the present value of the minimum future lease payments for operating leases at January 1, 2019, the Company was required to estimate a rate of interest that we would have to pay to borrow on a collateralized basis over a similar term an amount

d) Discount Rate Applied to Property Operating Lease, continued

equal to the lease payments in a similar economic environment (the “incremental borrowing rate” or “IBR”). The Company determined the appropriate IBR by identifying a reference rate and making adjustments that take into consideration financing options and certain lease-specific circumstances. For the reference rate, the Company used the interest rate average for its latest borrowings.

e) Right of Use Assets

Right of use assets are included in the consolidated Balance Sheet as follows:

f) Non-current assets

Right of use assets at June 30, 2020, net of amortization - $1,346,323.

g) Total operating lease cost

Individual components of the total lease cost incurred by the Company is as follows:

	Six Months Ended June 30, 2020	Six Months Ended June 30, 2019
Operating lease expense	$ 323,541	$ 271,902

Minimum rental payments under operating leases are recognized on a straight line basis over the term of the lease.

h) Maturity of operating leases

The amount of future minimum lease payments under operating leases at June 30, 2020 are as follows:

	Operating Lease
Undiscounted future minimum lease payments:
2020 (six months)	$ 217,354
2021	307,419
2022	241,002
2023	252,891
2024	256,264
Thereafter	540,490
Total	1,815,420
Amount representing imputed interest	(418,097)
Total operating lease liability	$ 1,397,323
Current portion of operating lease liability	$ 284,632
Operating lease liability, non-current	$ 1,112,691

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NOTE 11 - LIABILITY TO ISSUE COMMON STOCK

6 Months Ended

Jun. 30, 2020

Notes to Financial Statements

(11) LIABILITY TO ISSUE COMMON STOCK

(11) LIABILITY TO ISSUE COMMON STOCK

During the fourth quarter 2018 and second quarter 2019 the Company entered into four (4) Securities Purchase Agreements, (SPAs), with three parties, two of whom are related to each other. All four of these SPAs have language prohibiting the holder to own more than 4.99% of the issued and outstanding shares of the Company at any time.

In connection with these SPAs the Company was entitled to receive $906,500 in cash for the issuance of common stock, issuable at per share prices ranging between $0.0035 and $0.06 per share subject to downward adjustment based on volume weighted average price as defined at the date of issuance notice. The Company received $249,000 in 2018 and $310,000 in 2019 under these SPAs. The Company has not received the final September 2019 tranche of $347,500 as required under one of the SPAs. Contractually, under the SPAs, the Company is required to issue 88,619,381 shares. 1,537,246 shares were issued in the third quarter 2019, under one of these SPAs. (See Note 16a)

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NOTE 12 - DEFICIENCY IN STOCKHOLDERS' EQUITY

6 Months Ended

Jun. 30, 2020

Equity [Abstract]

(12) DEFICIENCY IN STOCKHOLDERS' EQUITY

(12) DEFICIENCY IN STOCKHOLDERS’ EQUITY

At June 30, 2020 and December 31, 2019, the Company had 10,000,000,000 shares of par value $0.001 common stock authorized and 3,109,519,939 and 918,470,359 issued and outstanding, respectively. At June 30, 2020 and December 31, 2019, the Company has 10,000,000 shares of par value $0.001 preferred stock authorized and 500,000 issued and outstanding,

Common Stock

In the second quarter 2020, the Company issued 100,000,000 shares of common stock valued at $10,000 to settle $6,000 of convertible debt.

In the first quarter 2020, the Company issued 2,035,059,580 shares of common stock valued at $491,504 to settle $114,658 of convertible debt. The Company issued 56,000,000 shares of common stock in exchange a subscription of $39,200 in cash.

In the fourth quarter 2019, the Company issued 2,500,000 shares of common stock as an inducement for the extension of convertible debt, valued at $157,500. The Company issued 3,997,266 shares of common stock valued at $286,044 to settle $13,990 of convertible debt pursuant to the modification of terms to fixed conversion rate. The Company issued 798,519,055 shares of common stock valued at $1,200,597 to settle $445,367 of convertible debt. The Company issued 36,348,494 shares of common stock in exchange for $41,053 in cash.

In the third quarter 2019, the Company issued 100,000 shares of common stock as an inducement for the extension of convertible debt, valued at $5,460. The Company issued 10,838,698 shares of common stock valued at $322,344 to settle $46,894 of convertible debt pursuant to the modification of terms to fixed conversion rate.

In the third quarter 2019, the Company issued 1,500,000 shares of common stock valued at $77,250 to settle $25,500 of convertible debt. The Company issued 1,537,246 shares of common stock valued at $57,647 for $32,282 of a Securities Purchase Agreement (SPA) funded in October 2018. The Company issued 6,404,057 shares of common stock in exchange for $120,423 in cash.

In the second quarter 2019, the Company issued 1,933,333 shares of common stock as an inducement for the extension of convertible debt, valued at $94,730. The Company issued 3,900,000 shares of common stock valued at $316,500 to settle $39,000 of convertible debt pursuant to the modification of terms to fixed conversion rate. The Company issued 3,333,333 shares of common stock in exchange for services valued at $239,333. The Company issued 5,000,000 shares of common stock in exchange for $50,000 in cash and $279,990 in fixed assets. The Company issued 386,589 shares of common stock in exchange for one-half of the first year rent on the Company’s corporate office, valued at $26,520. The Company issued 1,247,449 shares of common stock in exchange for $67,124 in cash.

In the first quarter 2019, the Company issued 1,713,307 shares of common stock as a commitment fee for its equity line of credit, valued at $90,000. The Company issued 5,305,000 shares of common stock valued at $300,885 to settle $18,568 of convertible debt pursuant to the modification of terms to fixed conversion rate.

Preferred stock

The rights and privileges of the Series A preferred stock are solely as a “super voting” stock, whereby each one share of Series A holds votes amounting to the equivalent of 100,000 shares of common stock. Therefore, the 500,000 shares of Series A issued and outstanding hold an aggregate votes equal to 500,000,000 common shares. The Series A shares have no dividend rights, no liquidation preferences, are not transferable and can be redeemed by the holder for $5,000 in cash from the Company for the entire 500,000 share block at the holders’ option.

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NOTE 13 - EARNINGS PER SHARE (EPS)

6 Months Ended

Jun. 30, 2020

Earnings Per Share [Abstract]

NOTE 13 - EARNINGS PER SHARE (EPS)

(13) EARNINGS PER SHARE (EPS)

	For the six Months Ended June 30, 2020
	Income (Numerator)	Shares (Denominator)	Per Share Amount
Income from continuing operations	$ 474,671
Basic EPS
Income available to common stockholders	474,671	3,109,519,939	$ 0.0002
Effect of dilutive securities
Change in embedded derivative value	(1,897,020)
Convertible notes payable	(610,111)	20,909,929,738
Common stock issuable		83,921,783
Diluted EPS
Income available to common stockholders + assumed conversions	$ (2,032,460)	24,103,371,460	$ (0.0001)

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NOTE 14 - COMMITMENTS AND CONTINGENCIES

6 Months Ended

Jun. 30, 2020

Commitments and Contingencies Disclosure [Abstract]

(14) - COMMITMENTS AND CONTINGENCIES

(14) COMMITMENTS AND CONTINGENCIES

a) Real Property Leases

The Company leases seven (7) restaurant spaces and its corporate office from unrelated parties. Rent expense paid was $323,541 and $271,902 for the six months ended June 30, 2020 and 2019. Future minimum lease payments under these real property lease agreements are as follows:

For the Year Ending December 31,	KMKE	IBE	IBA	IBWS	IBCH	IBCS	IPL
2020 (six months)	$ -	$ -	$ 38,897	$ 51,322	$ 35,091	$ 33,000	$ 32,524
2021	$ -	$ -	$ 25,931	$ 102,643	$ 23,394	$ 67,200	$ 66,151
2022	$ -	$ -	$ -	$ 104,354	$ -	$ 69,000	$ 67,648
2023	$ -	$ -	$ -	$ 112,908	$ -	$ 70,800	$ 69,183
2024	$ -	$ -	$ -	$ 112,908	$ -	$ 72,600	$ 70,756
Thereafter	$ -	$ -	$ -	$ 94,090	$ -	$ 281,400	$ 165,001
Total minimum lease payments	$ -	$ -	$ 64,828	$ 578,225	$ 58,485	$ 594,000	$ 471,263
	WCVC	Total
2020 (six months)	$ 26,520	$ 217,354
2021	$ 22,100	$ 307,419
2022	$ -	$ 241,002
2023	$ -	$ 252,891
2024	$ -	$ 256,264
Thereafter	$ -	$ 540,491
Total minimum lease payments	$ 48,620	$ 1,815,421

KMKE: Kalaka Mexican Kitchen - Evergreen; IBE: Illegal Burger - Evergreen; IBA: Illegal Burger - Arvada; IBWS - Illegal Burger - Writer Square; IBCH - Illegal Burger - Capital Hill; IBCS - Illegal Burger - CitiSet; IPL - Illegal Pizza - Lauderhill; WCVC - corporate office. The Company’s leases for the Evergreen locations expired on August 31, 2019, and are currently operating on a month to month basis.

b) Other

The Company is subject to asserted claims and liabilities that arise in the ordinary course of business. The Company maintains insurance policies to mitigate potential losses from these actions. In the opinion of management, the amount of the ultimate liability with respect to those actions will not materially affect the Company’s financial position or results of operations.

c) Litigation

On October 8, 2018, the creditor holding the First Amended Senior Secured Note from Illegal Burger, LLC filed suit in Broward County, Florida. The creditor is demanding $565,267, including interest plus attorney’s fees and costs. The Company expects to either negotiate a settlement agreement or to vigorously defend this action. In May 2020 the U.S. Securities and Exchange Commission, (SEC), filed a civil action alleging fraud against the creditor in Note 13c above. The SEC also appointed a court supervised receiver of this creditor, who has stayed all current litigation involving this creditor. The Company expects to reach a settlement with this receiver when they lift the stay.

The two related party holders of four fixed rate convertible notes and two of the SPAs for the purchase of common shares has threatened litigation relating to these securities, based on a claim that the Company does not have sufficient shares reserved for issuance under these notes and SPAs as required. The Company claims that these holders have defaulted under the SPA that required a $347,500 tranche to be invested in September 2019, and that the failure to provide these funds directly caused the circumstances causing the claimed shortfall in reserved shares.

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NOTE 15 - CONCENTRATIONS OF CREDIT RISK

6 Months Ended

Jun. 30, 2020

Risks and Uncertainties [Abstract]

(15) CONCENTRATIONS OF CREDIT RISK

(15) CONCENTRATIONS OF CREDIT RISK

a) Cash

The Company maintains its cash in bank deposit accounts, which may, at times, may exceed federally insured limits. The Company had no cash balance in excess of FDIC insured limits at June 30, 2020 and December 31, 2019.

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NOTE 16 - COVID-19 PANDEMIC

6 Months Ended

Jun. 30, 2020

Notes to Financial Statements

(16) Covid-19 Pandemic

(16) COVID-19 PANDEMIC

The short term impact of COVID-19 are the result of government directives, first from the City of Denver, CO, and subsequently from the States of Colorado and Florida requiring only pick-up and delivery orders of food and beverages. Under these directives we were required to close our dining areas in all our restaurants. This has caused a fall-off in business, which has been somewhat offset by an increase in pick-up and delivery orders. We have been able to keep our restaurants open for pick-up and delivery orders. This in turn has allowed us to continue to employ our staff at the restaurants. We intend to continue to pay our employees through this crisis in the hopes that once the crisis has passed and we will be allowed to return to more normal operations we can do so quickly by bringing our existing staff back in without having to train a large number of new staff. Our Denver area locations were allowed to resume 50% of dining facilities beginning on May 29.

The Company has had to develop and implement new policies and procedures for use in all of it restaurants to foster continued customer confidence when they purchase food from us during this crisis. The Company has had to develop and implement procedures for “drive through” pick up orders as none of our restaurants are equipped with drive through windows. We have expended considerable time and effort developing multiple means to get the information out to the buying public that all our restaurants are open for pick-up and delivery orders.

The Company temporarily closed our El Senor Sol - Evergreen, CO location because it was not receiving sufficient take out/delivery orders to make sense remaining open. The Company elected to re-brand this location during this. The Company had been seeking to complete a re-branding in a way that would cause the least financial harm. The pandemic provided a perfect opportunity. The location’s new brand is Kalaka Mexican Kitchen.

The State of Colorado required all restaurants to cease seating patrons and go to only pick up/delivery orders only beginning in mid-March 2020. This requirement caused a 14% drop in revenue in the six months ended June 30, 2020 over the same period in 2019.

During the state imposed pandemic requirement to reduce operations, the lenders of the Future Receivable Sales Agreements agreed to lower the payments due to them. Also the party holding the remaining One Year Note and one of the Fixed Rate Convertible Notes agreed to a 90 day extension to the maturity and a subsequent 90 day extension upon payment of the initial one year interest in the amount of $40,000. Several holders of Variable Rate Convertible Notes have also agreed to 90 day extensions to the maturity of their notes. The Company has requested extensions on the balance of the Variable Rate Convertible Notes, but has not received a response from the lenders.

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NOTE 17 - SUBSEQUENT EVENTS

6 Months Ended

Jun. 30, 2020

Subsequent Events [Abstract]

(17) SUBSEQUENT EVENTS

(17) SUBSEQUENT EVENTS

a) Deficiency in Stockholder’s Equity

In the third quarter 2020, the Company issued 343,235,349 shares of common stock valued at $34,324 to settle $10,547 of convertible debt.

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NOTE 2 - BASIS OF PRESENTATION AND USE OF ESTIMATES (Policies)

6 Months Ended

Jun. 30, 2020

Accounting Policies [Abstract]

Basis of Presentation

a) Basis of Presentation

The comparative amounts presented in these condensed consolidated financial statements are the historical results of West Coast Ventures Group, Corp. inclusive of its wholly owned subsidiaries Nixon Restaurant Group, Inc.; J&F Restaurant, LLC; Illegal Burger, LLC; Illegal Burger Writer Square, LLC; Illegal Burger Capital Hill, LLC, Illegal Burger CitiSet, LLC, Illegal Pizza Lauderhill, LLC, Illegal Brands, LLC, Illegal Burger Franchising, LLC and Illegal Brands IP, LLC. All intercompany balances and transactions have been eliminated in consolidation.

The accompanying unaudited condensed consolidated interim financial statements have been prepared in accordance with Generally Accepted Accounting Principles ("GAAP") in the United States of America ("U.S.") as promulgated by the Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") and with the rules and regulations of the U.S. Securities and Exchange Commission ("SEC"). In our opinion, the accompanying unaudited interim financial statements contain all adjustments (which are of a normal recurring nature) necessary for a fair presentation. Operating results for the six months ended June 30, 2020 are not necessarily indicative of the results that may be expected for the year ending December 31, 2020.

Use of Estimates

b) Use of Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates. Significant estimates in the accompanying consolidated financial statements involved the valuation of share-based compensation and derivatives.

Property and Equipment

c) Property and Equipment

All property and equipment are recorded at cost and depreciated over their estimated useful lives, generally three, five or seven years, using the straight-line method. Upon sale or retirement, the cost and related accumulated depreciation are removed from their respective accounts, and the resulting gain or loss is included in the results of operations. Repairs and maintenance charges, which do not increase the useful lives of the assets, are charged to operations as incurred.

Pre-opening Expenses

e) Operating Leases

Effective January 1, 2019, the Company adopted Accounting Standards Update (ASU) 2016-02, Leases (Topic 842) which supersedes the lease accounting requirements in Accounting Standards Codification (ASC) 840, Leases (Topic 840). Please refer to Recent Accounting Pronouncements below for additional information on the adoption of Topic 842 and the impact upon adoption to the Company’s condensed consolidated financial statements.

Under Topic 842, we applied a dual approach to all leases whereby we are a lessee and classify leases as either finance or operating leases based on the principle of whether or not the lease is effectively a financed purchase by the Company. Lease classification is evaluated at the inception of the lease agreement. Regardless of classification, we record a right-of-use asset and a lease liability for all leases with a term greater than 12 months. Our leases, for the premises we occupy for the Illegal Burger Arvada, Illegal Burger Writer Square, Illegal Burger Capital Hill, Illegal Burger CitiSet, Illegal Pizza Lauderhill and the corporate office were classified as operating leases as of June 30, 2020. Operating lease expense is recognized on a straight-line basis over the term of the lease.

The Company identifies leases in our contracts if the contract conveys the right to control the use of identified property or equipment for a period of time in exchange for consideration. We do not allocate lease consideration between lease and non-lease components and record a lease liability equal to the present value of the remaining fixed consideration under the lease. Any interest rate implicit in our leases are generally not readily determinable. Accordingly, we use our estimated incremental borrowing rate at the commencement date of the lease to determine the present value discount of the lease liability. We estimate the incremental borrowing rate for each lease based on an evaluation of our expected credit rating and the prevailing market rates for collateralized debt in a similar economic environment with similar payment terms and maturity dates commensurate with the term of the lease. The right-of-use asset for each lease is equal to the lease liability, adjusted for unamortized initial direct costs and lease incentives. We exclude options to extend or terminate leases from the calculation of the lease liability unless it is reasonably certain the option will be exercised.

Net Income (Loss) Per Share

f) Net Income (Loss) Per Share

Basic income (loss) per share excludes dilution and is computed by dividing the income (loss) attributable to stockholders by the weighted-average number of shares outstanding for the period. Diluted income (loss) per share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that shared in the earnings of the Company. Diluted income (loss) per share is computed by dividing the loss available to stockholders by the weighted average number of shares outstanding for the period and dilutive potential shares outstanding unless consideration of such dilutive potential shares would result in anti-dilution. The dilutive common stock equivalents were 20,993,851,521 and zero for the six months ended June 30, 2020 and 2019.

Income Taxes

g) Income Taxes

The Company follows the provisions of ASC 740-10, Accounting for Uncertain Income Tax Positions. When tax returns are filed, it is highly certain that some positions taken would be sustained upon examination by the taxing authorities, while others are subject to uncertainty about the merits of the position taken or the amount of the position that would be ultimately sustained. In accordance with the guidance of ASC 740-10, the benefit of a tax position is recognized in the financial statements in the period during which, based on all available evidence, management believes it is more likely than not that the position will be sustained upon examination, including the resolution of appeals or litigation processes, if any. Tax positions taken are not offset or aggregated with other positions. Tax positions that meet the more-likely-than-not recognition threshold are measured as the largest amount of tax benefit that is more than 50 percent likely of being realized upon settlement with the applicable taxing authority. The portion of the benefits associated with tax positions taken that exceeds the amount measured as described above should be reflected as a liability for unrecognized tax benefits in the accompanying consolidated balance sheets along with any associated interest and penalties that would be payable to the taxing authorities upon examination.

The tax years 2018, 2017 and 2016 for the Company remain open for IRS audit. The Company has received no notice of audit or any notifications from the IRS for any of the open tax years.

Cash and Cash Equivalents

h) Cash and Cash Equivalents

The Company considers all highly liquid securities with original maturities of three months or less when acquired, to be cash equivalents. The Company had no financial instruments that qualified as cash equivalents.

Financial Instruments and Fair Value Measurements

i) Financial Instruments and Fair Value Measurements

ASC 825-10 “Financial Instruments”, allows entities to voluntarily choose to measure certain financial assets and liabilities at fair value (fair value option). The fair value option may be elected on an instrument-by-instrument basis and is irrevocable, unless a new election date occurs. If the fair value option is elected for an instrument, unrealized gains and losses for that instrument should be reported in earnings at each subsequent reporting date. The Company did not elect to apply the fair value option to any outstanding instruments.

ASC 825 also requires disclosures of the fair value of financial instruments. The carrying value of the Company’s current financial instruments, which include cash and cash equivalents, accounts payable and accrued liabilities approximates their fair values because of the short-term maturities of these instruments.

FASB ASC 820 “Fair Value Measurement” clarifies that fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. It also requires disclosure about how fair value is determined for assets and liabilities and establishes a hierarchy for which these assets and liabilities must be grouped, based on significant levels of inputs as follows:

Level 1: Quoted prices in active markets for identical assets or liabilities.

Level 2: Quoted prices in active markets for similar assets and liabilities and inputs that are observable for the asset or liability.

Level 3: Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions.

The determination of where assets and liabilities fall within this hierarchy is based upon the lowest level of input that is significant to the fair value measurement.

Derivatives

j) Derivatives

The Company evaluates its convertible debt, options, warrants or other contracts to determine if those contracts or embedded components of those contracts qualify as derivatives to be separately accounted for. The result of this accounting treatment is that under certain circumstances the fair value of the derivative is marked-to-market each balance sheet date and recorded as a liability. In the event that the fair value is recorded as a liability, the change in fair value is recorded in the statement of operations as other income or expense. Upon conversion, payment or exercise of a convertible note containing an embedded derivative instrument, the instrument is marked to fair value at the conversion date and the debt and derivative are removed from the balance sheet, The shares issued upon conversion of the note are recorded at their fair value and any gain or loss on extinguishment is recognized in earnings.

Equity instruments that are initially classified as equity that become subject to reclassification under this accounting standard are reclassified to liability at the fair value of the instrument on the reclassification date.

Impairment of Long-Lived Assets

k) Impairment of Long-Lived Assets

A long-lived asset is tested for impairment whenever events or changes in circumstances indicate that its carrying value amount may not be recoverable. An impairment loss is recognized when the carrying amount of the asset exceeds the sum of the undiscounted cash flows resulting from its use and eventual disposition. The impairment loss is measured as the amount by which the carrying amount of the long-lived assets exceeds its fair value.

Related Party Transactions

l) Related Party Transactions

All transactions with related parties are in the normal course of operations and are measured at the exchange amount.

Recent Accounting Pronouncements

m) Recent Accounting Pronouncements

On January 1, 2019, the Company adopted ASU 2016-02, “Leases” which, for operating leases, requires a lessee to recognize a right-of-use asset and a lease liability, initially measured at the present value of the lease payments, in its balance sheet. The standard also requires a lessee to recognize a single lease cost, calculated so that the cost of the lease is allocated over the lease term, on a generally straight-line basis. The adoption of ASU 2016-02 resulted in the Company’s recognition of right to use assets and associated obligations on its balance sheet.

Revenue Recognition

n) Revenue Recognition

The Company adopted Accounting Standards Codification, (“ASC”), 606, “Revenue from Contracts with Customer” on January 1, 2018. This revenue recognition standard has a five step process: a) Determine whether a contract exists; b) Identify the performance obligations; c) Determine the transaction price; d) Allocate the transaction price; e) Recognize revenue when (or as) performance obligations are satisfied. The Company’s principal operations are the operation of quick casual restaurants wherein the customer pays for their food upon placing the order. The Illegal Brands operations are the sale of CBD infused water and CBD soluble packets which at present are only sold in the Company’s restaurants. The franchise operations have yet to sell a franchise, but upon such sales will follow the appropriate revenue recognition procedures.

The Company’s financial statements are prepared under the accrual method of accounting. Revenues are recognized when pervasive evidence of an arrangement exists, services have been rendered (product delivered), the sales price is fixed or determinable, and collectability is reasonably assured. This occurs only when the product(s) is ordered and subsequently delivered.

Inventories

o) Inventories

Inventories consist of food, beverages, and supplies valued at the lower of cost (first-in, first-out method) or net realizable value.

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NOTE 2 - BASIS OF PRESENTATION AND USE OF ESTIMATES (Tables)

6 Months Ended

Jun. 30, 2020

Accounting Policies [Abstract]

Assets and liabilities measured at fair value

	September 30, 2019		December 31, 2018
Level 3 - Embedded Derivative Liability	$	2,113,616	$	201,891

Changes in Level 3 assets measured at fair value

Balance, December 31, 2018	$	201,891
Initial valuation of new embedded derivatives		2,319,047
Extinguishment upon conversion or settlement		(739,933)
Change in fair value of derivatives		332,611
Balance, September 30, 2019	$	2,113,616

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NOTE 4 - FIXED ASSETS (Tables)

6 Months Ended

Jun. 30, 2020

Property, Plant and Equipment [Abstract]

Fixed assets

	June 30, 2020	December 31, 2019
Equipment	$ 569,715	$ 569,715
Leasehold improvements	239,050	231,493
Total	$ 808,765	$ 801,208
Accumulated depreciation	(407,788)	(342,249)
Ending Balance	$ 400,977	$ 458,959

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NOTE 5 - INTANGIBLE ASSETS (Tables)

6 Months Ended

Jun. 30, 2020

Finite-Lived Intangible Assets, Net [Abstract]

Intangible assets

	June 30, 2020	December 31, 2019
Leasehold rights	$ 175,000	$ 175,000
Liquor licenses	11,913	12,789
Franchise offering documents	16,000	16,000
Franchise sales website	16,500	16,500
Trademarks	9,100	9,100
Total	$ 228,513	$ 229,389
Accumulated amortization	(77,929)	(66,235)
Ending Balance	$ 150,584	$ 163,154

Estimated aggregate future amortization expense of intangible assets

2020 (six months)	$ 11,695
2021	21,140
2022	20,997
2023	20,997
2024	20,997
Thereafter	54,758
	$ 150,584

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NOTE 8 - DERIVATIVES (Tables)

6 Months Ended

Jun. 30, 2020

Notes to Financial Statements

Embedded Derivative Liabilities

	June 30, 2020		December 31, 2019
Level 3 - Embedded Derivative Liabilities	$	795,880	$	2,740,054

Changes in assets measured at fair value

Balance, December 31, 2019	$	2,740,054
Portion of initial valuation recorded as debt discount		-
Change upon conversion or settlement		(47,154)
Change in fair value of derivative		(1,897,020)
Balance, June 30, 2019	$	795,880

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NOTE 9 - NOTES PAYABLE TO THIRD PARTIES (Tables)

6 Months Ended

Jun. 30, 2020

Debt Disclosure [Abstract]

Notes Payable

						Look	Balance
Inception	Issue	Maturity		Interest	Conversion	Back	June 30,	December
Amount	Date	Date	OID	Rate	Price	Period	2020	31, 2019
a) Sale of Future Receivables
	various	various	-	-	-	-	$ 267,608	$ 309,311
b) Notes
$ 25,903	10/1/18	6/4/20	-	17%	-	-	-	3,372
$ 4,100	10/22/18	10/22/20	-	-	-	-	-	2,327
$ 14,800	6/5/18		-	-	-	-	8,505	10,219
$ 100,000	4/10/19	4/10/20	-	20%	-	-	104,603	114,630
							$ 113,108	$ 130,548
c) Convertible Notes - Variable Conversion Rate
$ 30,000	6/14/17	12/14/17	-	10%	35%	3 days	34,597	33,600
$ 50,000	4/16/19	1/16/20	10%	12%	45%	20 days	330	330
$ 153,000	5/28/19	5/24/20	-	12%	45%	20 days	39,543	72,105
$ 118,750	6/24/19	3/17/20	-	12%	50%	25 days	105,374	123,868
$ 50,000	6/28/19	3/27/20	10%	12%	45%	20 days	47,659	49,427
$ 50,000	6/28/19	3/27/20	10%	12%	45%	20 days	51,992	57,652
$ 50,000	6/28/19	3/27/20	10%	12%	45%	20 days	61,300	57,779
$ 103,000	7/1/19	6/27/20	-	12%	45%	20 days	115,394	109,197

						Look	Balance
Inception	Issue	Maturity		Interest	Conversion	Back	June 30,	December
Amount	Date	Date	OID	Rate	Price	Period	2020	31, 2019
c) Convertible Notes - Variable Conversion Rate, continued
$ 108,000	7/5/19	6/30/20	11.11%	12%	45%	20 days	129,438	132,699
$ 103,000	7/10/19	7/10/20	10%	8%	45%	20 days	96,255	121,862
$ 75,000	8/7/19	5/7/20	-	12%	50%	10 days	77,046	73,600
$ 70,000	8/7/19	5/7/20	12%	12%	40%	20 days	83,088	77,172
$ 90,000	8/8/19	8/8/20	-	10%	43%	20 days	92,938	96,914
$ 135,000	8/12/19	7/10/20	11%	8%	45%	20 days	162,352	160,160
$ 53,000	10/31/19	8/15/20	-	12%	45%	20 days	56,351	53,709
$ 18,235	12/13/19	12/13/20	9%	10%	35%	25 days	19,696	18,394
Subtotal Convertible Notes - Variable Conversion Rate							1,167,895	1,238,468
Less unamortized discounts							(49,870)	(553,646)
Net Convertible Notes - Variable Conversion Rate							$ 1,118,025	$ 684,822
d) Convertible Notes - Fixed Conversion Rate
$ 87,522	7/3/18	12/31/20	-	12%	$0.0035	-	23,358	22,039
$ 54,445	7/10/18	12/31/21	-	8%	$0.0035	-	61,500	59,406
$ 33,504	8/10/18	12/31/21	-	12%	$0.0035	-	39,465	37,551
$ 80,044	8/7/19	12/31/21	-	12%	$0.0035	-	39,664	37,866
$ 100,000	4/10/19	4/10/20	-	20%	$.05	-	104,603	114,630
Subtotal Convertible Notes - Fixed Conversion Rate							268,590	271,492
Less unamortized discounts							(4,196)	(76,465)
Net Convertible Notes - Variable Conversion Rate							$ 264,394	$ 195,027
e) Note of Wholly Owned Subsidiary
$ 375,000	3/5/15	12/5/15	-	18%	-	-	$ 538,896	$ 438,220

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NOTE 10 - OPERATING LEASES (Tables)

6 Months Ended

Jun. 30, 2020

Leases [Abstract]

Operating Lease Expense

	Six Months Ended June 30, 2020	Six Months Ended June 30, 2019
Operating lease expense	$ 323,541	$ 271,902

Future Minimum Lease Payments

For the Year Ending December 31,	KMKE	IBE	IBA	IBWS	IBCH	IBCS	IPL
2020 (six months)	$ -	$ -	$ 38,897	$ 51,322	$ 35,091	$ 33,000	$ 32,524
2021	$ -	$ -	$ 25,931	$ 102,643	$ 23,394	$ 67,200	$ 66,151
2022	$ -	$ -	$ -	$ 104,354	$ -	$ 69,000	$ 67,648
2023	$ -	$ -	$ -	$ 112,908	$ -	$ 70,800	$ 69,183
2024	$ -	$ -	$ -	$ 112,908	$ -	$ 72,600	$ 70,756
Thereafter	$ -	$ -	$ -	$ 94,090	$ -	$ 281,400	$ 165,001
Total minimum lease payments	$ -	$ -	$ 64,828	$ 578,225	$ 58,485	$ 594,000	$ 471,263
	WCVC	Total
2020 (six months)	$ 26,520	$ 217,354
2021	$ 22,100	$ 307,419
2022	$ -	$ 241,002
2023	$ -	$ 252,891
2024	$ -	$ 256,264
Thereafter	$ -	$ 540,491
Total minimum lease payments	$ 48,620	$ 1,815,421

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NOTE 13 - EARNINGS PER SHARE (EPS) (Tables)

6 Months Ended

Jun. 30, 2020

Earnings Per Share [Abstract]

Earnings Per Share

	For the six Months Ended June 30, 2020
	Income (Numerator)	Shares (Denominator)	Per Share Amount
Income from continuing operations	$ 474,671
Basic EPS
Income available to common stockholders	474,671	3,109,519,939	$ 0.0002
Effect of dilutive securities
Change in embedded derivative value	(1,897,020)
Convertible notes payable	(610,111)	20,909,929,738
Common stock issuable		83,921,783
Diluted EPS
Income available to common stockholders + assumed conversions	$ (2,032,460)	24,103,371,460	$ (0.0001)

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NOTE 14 - COMMITMENTS AND CONTINGENCIES (Tables)

6 Months Ended

Jun. 30, 2020

Commitments and Contingencies Disclosure [Abstract]

Future minimum lease payments

For the Year Ending December 31,	KMKE	IBE	IBA	IBWS	IBCH	IBCS	IPL
2020 (six months)	$ -	$ -	$ 38,897	$ 51,322	$ 35,091	$ 33,000	$ 32,524
2021	$ -	$ -	$ 25,931	$ 102,643	$ 23,394	$ 67,200	$ 66,151
2022	$ -	$ -	$ -	$ 104,354	$ -	$ 69,000	$ 67,648
2023	$ -	$ -	$ -	$ 112,908	$ -	$ 70,800	$ 69,183
2024	$ -	$ -	$ -	$ 112,908	$ -	$ 72,600	$ 70,756
Thereafter	$ -	$ -	$ -	$ 94,090	$ -	$ 281,400	$ 165,001
Total minimum lease payments	$ -	$ -	$ 64,828	$ 578,225	$ 58,485	$ 594,000	$ 471,263
	WCVC	Total
2020 (six months)	$ 26,520	$ 217,354
2021	$ 22,100	$ 307,419
2022	$ -	$ 241,002
2023	$ -	$ 252,891
2024	$ -	$ 256,264
Thereafter	$ -	$ 540,491
Total minimum lease payments	$ 48,620	$ 1,815,421

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NOTE 1 - NATURE OF OPERATIONS (Details Narrative)	Oct. 04, 2017 shares
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Shares issued to acquire NRG assets	20,000,000

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NOTE 2 - BASIS OF PRESENTATION AND USE OF ESTIMATES (Details Narrative) - USD ($)	3 Months Ended
	Jun. 30, 2019	Jun. 30, 2020	Dec. 31, 2019
Accounting Policies [Abstract]
Stock issued for services, value	$ 239,333
Common stock equivalents		$ 0	$ 0
Cash equivalent instruments		$ 0	$ 0

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NOTE 3 - LIQUIDITY AND GOING CONCERN CONSIDERATIONS (Details Narrative) - USD ($)	3 Months Ended			6 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Note 3 - Liquidity And Going Concern Considerations
Net loss	$ (626,761)	$ 1,101,432	$ (1,185,514)	$ 474,671	$ (2,307,995)
Accumulated deficit	(8,480,516)			(8,480,516)		$ (8,955,187)
Negative working capital	$ 5,100,000			$ 5,100,000

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NOTE 4 - FIXED ASSETS (Details) - USD ($)	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Property, Plant and Equipment [Abstract]
Equipment	$ 569,715	$ 569,715
Leasehold improvements	239,050	$ 231,493
Total	808,765		$ 801,208
Accumulated Depreciation	(407,788)		(342,249)
Ending Balance	$ 400,977		$ 458,959

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NOTE 4 - FIXED ASSETS (Details Narrative) - USD ($)	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 65,539	$ 29,827

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NOTE 5 - INTANGIBLE ASSETS (Details) - USD ($)	Jun. 30, 2020	Mar. 31, 2020
Finite-Lived Intangible Assets, Net [Abstract]
Leasehold rights	$ 175,000	$ 175,000
Liquor license purchase	11,913	12,789
Franchise offering documents	16,000	16,000
Franchise sales website	16,500	16,500
Trademark application fee	9,100	9,100
Total	228,513	229,389
Accumulated amortization	(77,929)	(66,235)
Ending Balance	$ 150,584	$ 163,154

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NOTE 5 - INTANGIBLE ASSETS (Details Narrative) - USD ($)	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Finite-Lived Intangible Assets, Net [Abstract]
Amortization expenses of intangibles	$ 11,695	$ 6,597

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NOTE 6 - NET ACQUIRED LIABILITIES OF DISCONTINUED OPERATIONS (Details Narrative) - USD ($)	6 Months Ended		12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2017
Debt Disclosure [Abstract]
Common stock issued for settlement of discontinued operations liabilities	$ 167,812	$ 57,568	$ 30,000
Common stock issued for settlement of discontinued operations liabilities, shares			3,000,000

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NOTE 7 - STOCKHOLDER LOAN (Details Narrative) - USD ($)	Jun. 30, 2020	Dec. 31, 2019
Related Party Transactions [Abstract]
Stockholder loan balance	$ 144,472	$ 144,472

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NOTE 10 - OPERATING LEASES - Future Minimum Lease Payments (Details) - USD ($)	Jun. 30, 2020	Dec. 31, 2019
Leases [Abstract]
Total	$ 1,923,438
Amount representing imputed interest	(453,639)
Total operating lease liability	1,469,799
Current portion of operating lease liability	306,616
Operating lease liability, non-current	$ 1,112,691	$ 1,243,129

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NOTE 10 - OPERATING LEASES - Operating Lease Expense (Details) - USD ($)	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Leases [Abstract]
Operating lease expense	$ 323,541	$ 271,902

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NOTE 10 - OPERATING LEASES (Details Narrative) - USD ($)	Jun. 30, 2020	Dec. 31, 2019
Leases [Abstract]
Right of use assets, net of amortization	$ 1,346,323	$ 1,489,737

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NOTE 10 - LIABILITY TO ISSUE COMMON STOCK (Details Narrative) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2020	Dec. 31, 2018
Notes to Financial Statements
Cash for stock through Stock Purchase Agreements	$ 300,000	$ 265,500

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NOTE 11 - STOCKHOLDERS' DEFICIT (Details Narrative) - USD ($)	3 Months Ended			6 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Preferred Stock
Preferred stock par value (in Dollars per share)		$ 0.001		$ 0.001		$ 0.001
Preferred stock, shares authorized (in Shares)		10,000,000		10,000,000		10,000,000
Preferred stock, shares issued (in Shares)		500,000		500,000		500,000
Preferred stock, shares outstanding (in Shares)		500,000		500,000		500,000
Common Stock
Common stock par value (in Dollars per share)		$ 0.001		$ 0.001		$ 0.001
Common stock, shares authorized (in Shares)		10,000,000,000		10,000,000,000		10,000,000,000
Common stock, shares issued (in Shares)		3,109,519,939		3,109,519,939		918,470,359
Common stock, shares outstanding (in Shares)		3,109,519,939		3,109,519,939		918,470,359
Shares issued for cash, shares	343,235,349
Shares issued for cash, amount	$ 34,324		$ 0
Shares issued as debt inducement, Amount				$ 0	$ 184,731
Shares issued in settlement of debt, Amount		$ 6,000	$ 161,812

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NOTE 14 - COMMITMENTS AND CONTINGENCIES (Details Narrative) - USD ($)	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Rent expense	$ 323,541	$ 271,902

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NOTE 17 - SUBSEQUENT EVENTS (Details Narrative) - USD ($)		3 Months Ended		6 Months Ended
	Oct. 04, 2017	Sep. 30, 2020	Mar. 31, 2020	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Subsequent Events [Abstract]
Authorized Common Stock				10,000,000,000		10,000,000,000
Shares issued for cash, shares		343,235,349
Shares issued for cash, amount		$ 34,324	$ 0
Shares issued as debt inducement, Amount				$ 0	$ 184,731
Shares issued in settlement of debt, debt amount settled		$ 10,547
Shares of common stock to purchase existing fixed assets, amount	20,000,000