EQUITY

12 Months Ended

Dec. 31, 2023

Equity [Abstract]

EQUITY

NOTE 8 – EQUITY

Common Stock

As of December 31, 2023, the Company had 4,500,000,000 authorized shares of Common Stock with a par value of $0.001. As of December 31, 2023, and December 31, 2022, there were 18,326,075 and 17,411,217 shares of Common Stock issued and outstanding, respectively.

During the six months ended June 30, 2023, the Company issued 114,510 restricted common shares to various individuals for services provided. These shares were valued at $4.00 each, based on the trading price of the Company’s common stock on the date the share issuance was approved by the Company’s Board of Directors. As a result, the Company recorded stock based compensation expense of $458,040 for the year ended December 31, 2023.

During the three months ended the Company issued 800,000 shares of its common stock in exchange for 800,000 shares of Series A Preferred A Stock of Infinity Fund Australia PTY LTD (“Infinity”). Since Infinity is a privately held entity without any published financial information, the Infinity shares were valued at par value of the Company’s stock or $800, and recorded as an investment on the Company’s balance sheet.

Preferred Stock

During 2020 the Company had 855,000 shares of Preferred Series A Stock outstanding. This Class of Preferred had a 1 for 1 conversion ratio to common stock. During 2021 this class of Series A Preferred Stock was converted to 855,000 shares of common stock prior to the reverse split. On a post-split basis of 250 to 1, this amounted to 3,420 common shares. In March 2021 the Company designated a new class of Series A Preferred Stock.

As of December 31, 2023, the Company has authorized 300,000,000 shares of Preferred Series A Stock. As of December 31, 2023, and December 31, 2022, there were 227,838,680 and 227,838,680 Preferred Series A shares issued and outstanding, respectively. Each share of preferred stock is convertible to 50 shares of common stock.