10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-Q

☒ Quarterly report under Section 13 or 15(d) of the Securities Exchange Act of 1934

For the quarterly period ended September 30, 2021

☐ Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

For the transition period from _______ to _______

Commission File No. 000-55030

GREENWAY TECHNOLOGIES, INC.

(Exact name of registrant as specified in its charter)

Texas	90-0893594
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification Number)
1521 North Cooper Street, Suite 205 Arlington, Texas	76011
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code: (800) 289-2515

Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading Symbol(s) Name of exchange on which registered

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 requirement for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted 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 such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See 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	☐	Smaller reporting company	☒
		Emerging growth company	☐

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 by Rule 12b-2 of the Act). Yes ☐ No ☒

The number of shares of the registrant’s common stock, par value $0.0001 per share, outstanding as of November 15, 2021 was 348,894,167.

Table of Contents

Part I – Financial Information.
Item 1. Condensed Consolidated Financial Statements & Notes (Unaudited)	2
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations	17
Item 3. Quantitative and Qualitative Disclosures about Market Risk	28
Item 4. Controls and Procedures	28
Part II - Other Information
Item 1. Legal Proceedings	30
Item 1A. Risk Factors	30
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds	30
Item 3. Defaults Upon Senior Securities	31
Item 4. Mine Safety Disclosures	31
Item 5. Other Information	31
Item 6. Exhibits	32

1

PART I – FINANCIAL INFORMATION

Item 1. Condensed Consolidated Financial Statements & Notes (Unaudited).

GREENWAY TECHNOLOGIES, INC.

Condensed Consolidated Balance Sheets

	September 30,			December 31,
	2021			2020
	(Unaudited)			(See Note 2)
Assets
Current Assets
Cash	$	37,516		$	1,628
Prepaid Expenses		140			11,235
Total Current Assets		37,656			12,863
Total Assets	$	37,656		$	12,863
Liabilities & Stockholders’ Deficit
Current Liabilities
Accounts payable	$	716,602		$	805,237
Advances - related parties		142,936			142,934
Accrued severance expense		1,301,964			1,301,964
Accrued expenses		1,069,296			860,368
Accrued expenses - related parties		2,006,902			1,797,818
Accrued interest payable (includes related parties interest of $911,062 and $562,890 respectively)		1,011,046			650,480
Notes payable and convertible notes payable		846,667			886,667
Notes payable - related parties (Net of debt discount of $16,439 and $13,153 respectively)		2,737,566			2,411,605
Total Current Liabilities		9,832,979			8,857,073
Total Liabilities	$	9,832,979		$	8,857,073
Commitments and contingencies (Note 10)
Stockholders’ Deficit
Common stock 500,000,000 shares authorized, par value $0.0001, 346,602,500 and 335,268,075 outstanding at September 30, 2021 and December 31, 2020, respectively	$	34,660		$	33,527
Additional paid-in capital		24,583,753			24,123,925
Common stock to be issued		37,189			36,384
Subscription receivable - warrants		(16,245	)		(16,245	)
Accumulated deficit		(34,434,680	)		(33,021,801	)
Total Stockholders’ Deficit		(9,795,323	)		(8,844,210	)
Total Liabilities & Stockholder’s Deficit	$	37,656		$	12,863

See accompanying notes to the condensed unaudited consolidated financial statements.

2

GREENWAY TECHNOLOGIES, INC.
Condensed Consolidated Statements of Operations

For the three and nine months ended September 30, 2021 and 2020

(Unaudited)

	Three Months Ended September 30,						Nine Months Ended September 30,
	2021			2020			2021			2020
Revenues	$	-		$	-		$	-		$	-
Expenses
General and administrative		277,285			312,444			845,384			890,946
Research and development		48,000			-			126,000			-
Total Expense		325,285			312,444			971,384			890,946
Operating loss		(325,285	)		(312,444	)		(971,384	)		(890,946	)
Other income (expenses)
Gain/(loss) on change in fair value of derivative		-			(14,741	)		-			53,023
Interest expense		(149,360	)		(192,391	)		(441,495	)		(564,668	)
Gain on settlement of accounts payable		-			-			-			809
Gain/(loss) on debt settlement		-			28,916			-			28,916
Reserve for equity method investment receivable		-			(412,885	)		-			(412,885	)
Convertible debt derivative expense		-			-			-			(33,978	)
Total other income / (expense)		(149,360	)		(591,101	)		(441,495	)		(928,783	)
Loss before income taxes		(474,645	)		(903,545	)		(1,412,879	)		(1,819,729	)
Provision for income taxes		-			-			-			-
Net loss	$	(474,645	)	$	(903,545	)	$	(1,412,879	)	$	(1,819,729	)
Net loss per share
Basic and diluted net loss per share	$	(0.00	)	$	(0.00	)	$	(0.00	)	$	(0.01	)
Weighted average shares outstanding
Basic and diluted		344,700,161			312,676,102			340,789,074			309,479,888

See accompanying notes to the condensed unaudited consolidated financial statements.

3

GREENWAY TECHNOLOGIES, INC.
Condensed Consolidated Statements of Changes in Stockholders’ Deficit
For the nine months ended September 30, 2021 and 2020
(Unaudited)

Nine Months Ended September 30, 2021
	Common Stock, par value $0.0001				Additional		Common Stock
	Number of shares		Amount		paid-in capital		to be Issued			Subscription Receivable			Accumulated Deficit			Total
Balance, December 31, 2020		335,268,075	$	33,527	$	24,123,925	$	36,384		$	(16,245	)	$	(33,021,801	)	$	(8,844,210	)
Shares to be issued for promissory note fees		-		-		-		8,014			-			-			8,014
Shares to be issued for consulting fees		-		-		-		3,000			-			-			3,000
Shares issued for private placement		1,200,000		120		35,880		-			-			-			36,000
Net loss for the three months ended March 31, 2021		-		-		-		-			-			(464,606	)		(464,606	)
Balance, March 31, 2021		336,468,075	$	33,647	$	24,159,805	$	47,398		$	(16,245	)	$	(33,486,407	)	$	(9,261,802	)
Shares to be issued for promissory note fees		-		-		-		6,343			-			-			6,343
Shares to be issued for private placement		-		-		-		10,000			-			-			10,000
Shares issued for promissory note fees		973,630		97		48,546		(44,398	)		-			-			4,245
Shares issued for consulting fees		482,500		48		14,427		(3,000	)		-			-			11,475
Shares issued for private placement		4,766,667		477		172,523		-			-			-			173,000
Net loss for the three months ended June 30, 2021		-		-		-		-			-			(473,628	)		(473,628	)
Balance, June 30, 2021		342,690,872	$	34,269	$	24,395,301	$	16,343		$	(16,245	)	$	(33,960,035	)	$	(9,530,367	)
Shares to be issued for promissory note fees		-		-		-		12,189			-			-			12,189
Shares to be issued for private placement		-		-		-		25,000			-			-			25,000
Shares issued for promissory note fees		224,128		22		6,321		(6,343	)		-			-			-
Shares issued for private placement		3,687,500		369		182,131		(10,000	)		-			-			172,500
Net loss for the three months ended September 30, 2021		-		-		-		-			-			(474,645	)		(474,645	)
Balance, September 30, 2021		346,602,500	$	34,660	$	24,583,753	$	37,189		$	(16,245	)	$	(34,434,680	)	$	(9,795,323	)

Nine Months Ended September 30, 2020
	Common Stock, par value $0.0001				Additional		Common Stock
	Number of shares		Amount		paid-in capital		to be Issued			Subscription Receivable			Accumulated deficit			Total
Balance, December 31, 2019		296,648,677	$	30,153	$	22,710,632	$	857,227		$	(7,668	)	$	(30,479,829	)	$	(6,889,485	)
Shares issued for cashless Warrant conversions		857,737		86		8,491		-			(8,577	)		-			-
Shares issued for Loan Conversion		3,906,610		391		311,984		(312,375	)		-			-			-
Shares issued for Promissory Note Fees		1,460,260		146		124,706		(124,852	)		-			-			-
Shares to be issued for Promissory Note Fees		-		-		-		10,901			-			-			10,901
Shares to be issued for settlement of accrued legal expenses		-		-		-		31,603			-			-			31,603
Shares issued for stock-based compensation		7,000,000		700		419,300		(420,000	)		-			-			-
Shares issued for Private Placement		600,000		60		59,940		-			-			-			60,000
Net loss for the three months ended March 31, 2020		-		-		-		-			-			(562,749	)		(562,749	)
Balance, March 31, 2020		310,473,284	$	31,536	$	23,635,053	$	42,504		$	(16,245	)	$	(31,042,578	)	$	(7,349,730	)
Shares issued for Private Placement		375,000		37		14,963		-			-			-			15,000
Shares to be issued for settlement of accrued legal expenses		529,711		53		31,550		(31,603	)		-			-			-
Net loss for the three months ended June 30, 2020		-		-		-		-			-			(353,434	)		(353,434	)
Balance, June 30, 2020		311,377,995	$	31,626	$	23,681,566	$	10,901		$	(16,245	)	$	(31,396,012	)	$	(7,688,164	)
Shares to be issued for promissory note fees		-		-		-		13,192			-			-			13,192
Shares issued for loan conversion		4,823,768		483		117,754		-			-			-			118,237
Net loss for the three months ended September 30, 2020		-		-		-		-			-			(903,545	)		(903,545	)
Balance, September 30, 2020		316,201,763	$	32,109	$	23,799,320	$	24,093		$	(16,245	)	$	(32,299,557	)	$	(8,460,280	)

See accompanying notes to the condensed unaudited consolidated financial statements.

4

GREENWAY TECHNOLOGIES, INC.

Condensed Consolidated Statements of Cash Flows

For the nine months ended September 30, 2021 and 2020
(Unaudited)

	Nine Months Ended September 30,
	2021			2020
Cash Flows from Operating Activities:
Net loss	$	(1,412,879	)	$	(1,819,729	)
Adjustments to reconcile net loss to net cash used in operating activities:
Change in fair value of derivatives		-			(53,023	)
Amortization of debt discount		27,505			195,874
Derivative expense		-			33,978
Share based consulting fees		14,475			-
Debt settlement		-			(28,916	)
Gain on settlement of accounts payable		-			(809	)
Reserve for equity method investment receivable		-			412,885
Changes in operating assets and liabilities:
Prepaid expenses		11,095			(609	)
Accrued expenses		221,322			-
Accrued expenses - related parties		557,256			596,767
Accounts payable		(88,635	)		114,949
Net Cash Used in Operating Activities		(669,861	)		(548,633	)
Cash flows from Investing Activities:
Receivable - related parties		-			(25,000	)
Net Cash Used in Investing Activities		-			(25,000	)
Cash Flows from Financing Activities
Proceeds from notes payable - related parties		-			101,833
Proceeds from convertible notes payable		-			171,000
Payments on notes payable - related parties		(100,000	)		-
Payments on other notes payable		(40,000	)		(50,000	)
Advances - other		-			20,000
Proceeds from sale of common stock		416,500			75,000
Proceeds from stockholder advances		429,249			240,859
Net Cash Provided by Financing Activities		705,749			558,692
Net Increase (Decrease) in Cash		35,888			(14,941	)
Cash Beginning of Period		1,628			16,043
Cash End of Period	$	37,516		$	1,102
Supplemental Disclosure of Cash Flow Information:
Cash Paid during the period for interest	$	49,046		$	16,779
Cash Paid during the period for taxes	$	-		$	952
Non-Cash investing and financing activities
New debt discount from convertible notes	$	-		$	204,978
Subscription receivables - warrants	$	-		$	16,245
Loan conversion (fair value of shares issued: $0 and $118,237)	$	-		$	76,542
Discount related to shares issued for promissory note fees	$	30,791		$	-
Conversion of stockholder advances – related parties to notes payable	$	429,247		$	178,093
Shares issued for promissory note fees	$	54,986		$	24,093
Shares issued for legal expense	$	-		$	31,603

See accompanying notes to the condensed unaudited consolidated financial statements.

5

GREENWAY TECHNOLOGIES, INC.

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

September 30, 2021

(Unaudited)

NOTE 1 – ORGANIZATION

Nature of Operations

Greenway Technologies, Inc., (“Greenway”, “GTI” or the “Company”) through its wholly owned subsidiary, Greenway Innovative Energy, Inc., is primarily engaged in the research, development and commercialization of a proprietary Gas-to-Liquids (GTL) syngas conversion system that can be economically scaled to meet individual natural gas field/resource requirements. The Company’s proprietary and patented technology has been realized in Greenway’s first generation commercial-scale G-Reformer^TM unit (“G-Reformer”), a unique and critical component of the Company’s overall GTL technology solution. Greenway’s objective is to become a material direct and licensed producer of renewable GTL synthesized diesel and jet fuels, with a near term focus on U.S. market opportunities.

Greenway’s GTL Technology

In August 2012, Greenway Technologies acquired 100% of Greenway Innovative Energy, Inc. (“GIE”) which owns patents and trade secrets for proprietary technologies to convert natural gas into synthesis gas (“syngas”). Based on a breakthrough process named Fractional Thermal Oxidation™ (“FTO”), the Company believes that its G-Reformer unit, combined with conventional and proprietary Fischer-Tropsch (“FT”) processes, offers an economical and scalable method to convert natural gas to liquid fuel.

To facilitate the commercialization process, Greenway announced in August 2019 that it had entered into an agreement to partially own and operate an existing GTL plant located in Wharton, Texas. Originally acquired by Mabert, a company controlled by director, Kevin Jones, members include OPMGE (a company formed to facilitate the joint venture), Mabert and Tom Phillips, an employee of the Company. The Company’s involvement in the venture is intended to facilitate third-party certification of the Company’s G-Reformer technology, related equipment and technology. In addition, the Company anticipates that OPMGE’s operations will demonstrate that the G-Reformer is a commercially viable technology for producing syngas and marketable fuel products. As the first operating GTL plant to use Greenway’s proprietary reforming technology and equipment, the Wharton joint venture facility is initially expected to yield a minimum of 75 - 100 barrels per day of gasoline and diesel fuels from converted natural gas. To date, the Company has not raised sufficient funding to achieve the aforementioned objectives but continues to work toward that end.

The Company believes that its proprietary G-Reformer is a major innovation in gas reforming and GTL technology in general. Initial tests have demonstrated that the Company’s solution appears to be superior to legacy technologies which are more costly, have a larger footprint and cannot be easily deployed at field sites to process associated gas, stranded gas, coal-bed methane, vented gas, or flared gas, all markets the Company seeks to service. The new plant is anticipated to prove out the economics for the Company’s technology and GTL processes.

NOTE 2 - BASIS OF PRESENTATION AND GOING CONCERN UNCERTAINTIES

Basis of Presentation

The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and the instructions to Rule 10-01 of Regulation S-X of the Securities and Exchange Commission (the “SEC”). Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, these unaudited condensed consolidated financial statements contain all adjustments, consisting of normal recurring adjustments, considered necessary for a fair presentation of the results of the interim periods, but are not necessarily indicative of the results of operations to be anticipated for the full year ending December 31, 2021. These unaudited condensed consolidated financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2020.

6

Principles of Consolidation

The accompanying unaudited condensed consolidated financial statements include the financial statements of Greenway and its wholly owned subsidiaries. All significant inter-company accounts and transactions were eliminated in consolidation.

The accompanying condensed unaudited consolidated financial statements include the accounts of the following entities:

Name of Entity	%			Entity	Incorporation	Relationship
Greenway Technologies, Inc.				Corporation	Texas	Parent
Universal Media Corporation		100	%	Corporation	Wyoming	Subsidiary
Greenway Innovative Energy, Inc.		100	%	Corporation	Nevada	Subsidiary
Logistix Technology Systems, Inc.		100	%	Corporation	Texas	Subsidiary

Greenway’s investments in unconsolidated entities in which a significant, but less than controlling, interest is held and in variable interest entities (“VIE”) in which the Company is not deemed to be the primary beneficiary are accounted for by the equity method. See Note 3 – Summary of Significant Accounting Policies.

Going Concern Uncertainties

The condensed unaudited consolidated financial statements have been prepared on a going concern basis, which contemplates realization of assets and the satisfaction of liabilities in the normal course of business. As of September 30, 2021, we have an accumulated deficit of $34,434,680. For the nine-months ended September 30, 2021, we had no revenue, generated a net loss of $1,412,879 and used cash of $669,861 for operating activities. The ability of the Company to continue as a going concern is in doubt and dependent upon achieving a profitable level of operations or on the ability of the Company to obtain necessary financing to fund ongoing operations. While the Company is attempting to commence revenue generating operations and thereby generate sustainable revenues, the Company’s current cash position is not sufficient to support its ongoing daily operations and requires the Company to raise addition capital through debt and/or equity sources. Management believes that its current and future plans will enable it to continue as a going concern for the next twelve months from the date of this report.

The outbreak of COVID-19 (coronavirus), caused by a novel strain of the coronavirus, was recognized as a pandemic by the World Health Organization, and the outbreak has become increasingly widespread in the United States, including in each of the areas in which the Company operates. The COVID-19 (coronavirus) outbreak has had a notable impact on general economic conditions, including but not limited to the temporary closures of many businesses, “shelter in place” and other governmental directives, reduced business and consumer spending due to both job losses, reduced investing activity and M&A transactions, among many other effects attributable to the COVID-19 (coronavirus), and there continue to be many unknowns. While to date the Company has not been required to stop operating, management is evaluating its use of its office space, virtual meetings and other measures. The Company continues to monitor the impact of the COVID-19 (coronavirus) outbreak. The extent to which the COVID-19 (coronavirus) outbreak will impact our operations, the operations of OPMGE and/or ability to obtain financing or future financial results is uncertain.

The accompanying unaudited consolidated financial statements do not include any adjustments to the recorded assets or liabilities that might be necessary should the Company have to curtail operations or be unable to continue in existence.

NOTE 3 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

A summary of significant accounting policies applied in the presentation of the condensed unaudited consolidated financial statements are as follows:

Property and Equipment

Property and equipment is recorded at cost. Major additions and improvements are capitalized. The cost and related accumulated depreciation of equipment retired or sold, are removed from the accounts and any differences between the undepreciated amount and the proceeds from the sale or salvage value are recorded as a gain or loss on sale of equipment. Depreciation is computed using the straight-line method over the estimated useful life of the assets.

Impairment of Long-Lived Assets

The Company assesses the impairment of long-lived assets whenever events or changes in circumstances indicate that the carrying amount may not be recoverable, in accordance with Accounting Standards Codification, ASC Topic 360, Property, Plant and Equipment. An asset or asset group is considered impaired if its carrying amount exceeds the undiscounted future net cash flow the asset or asset group is expected to generate. If an asset or asset group is considered impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds its fair value. If estimated fair value is less than the book value, the asset is written down to the estimated fair value and an impairment loss is recognized. There were no long-lived assets or impairment charges for the period ended September 30, 2021.

7

Revenue Recognition

The FASB issued ASC 606 as guidance on the recognition of revenue from contracts with customers in May 2014 with amendments in 2015 and 2016. Revenue recognition will depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance also requires disclosures regarding the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. The Company has not, to date, generated any revenues.

Equity Method Investment

On August 29, 2019, the Company entered into a Material Definitive Agreement related to the formation of OPM Green Energy, LLC (OPMGE). The Company contributed a limited license to use its proprietary and patented GTL technology for no actual cost basis in exchange for 42.86% (300 of 700 currently owned member units) revenue interest in OPMGE, expected to be later reduced to a 30% interest upon the completion of certain expected third-party investments for the remining 300 of 1,000 member units available. The Company evaluated its interest in OPMGE and determined that the Company does not control OPMGE. The Company accounts for its interest in OPMGE via the equity method of accounting. At September 30, 2021, there was no change in the investment cost of $0. At September 30, 2021, OPMGE had no material business activity as of such date. As described in Note 9, the Company maintains a Related Party receivable with OPMGE for $412,885 related to our advancing capital for certain of OPMGE’s capital expenditures that the Company believes are in their best interests. Due to the uncertainty of the collectability of the OPMGE receivable, the Company has fully reserved the full amount of this equity method receivable with OPMGE as of September 30, 2021.

Use of Estimates

The preparation of condensed unaudited consolidated financial statements in conformity with U.S. Generally Accepted Accounting Principles (“GAAP”) 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 condensed unaudited consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Such estimates include allowance for collectible receivables, derivative liability valuations and deferred tax valuation allowances. Actual results could differ from such estimates.

Cash and Cash Equivalents

The Company considers all highly liquid investments purchased with an original maturity of three-months or less to be cash

equivalents. There were no cash equivalents at September 30, 2021 or December 31, 2020, respectively.

Income Taxes

The Company accounts for income taxes in accordance with FASB ASC 740, “Income Taxes,” which requires that the Company recognize deferred tax liabilities and assets based on the differences between the financial statement carrying amounts and the tax bases of assets and liabilities, using enacted tax rates in effect in the years the differences are expected to reverse. Deferred income tax benefit (expense) results from the change in net deferred tax assets or deferred tax liabilities. A valuation allowance is recorded when it is more likely than not that some or all deferred tax assets will not be realized.

The Company has adopted the provisions of FASB ASC 740-10-05 Accounting for Uncertainty in Income Taxes. The ASC clarifies the accounting for uncertainty in income taxes recognized in an enterprise’s financial statements. The ASC prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. The ASC provides guidance on de-recognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. Open tax years, subject to IRS examination include 2016 – 2020, with no corporate tax returns filed for the years ending 2016 to 2020.

Net Loss Per Share, basic and diluted

Basic loss per share has been computed by dividing net loss available to common shareholders by the weighted average number of common shares issued and outstanding for the period. For the nine months ended September 30, 2021, shares issuable upon the exercise of warrants (3,000,000), shares convertible for debt (2,083,333) and shares outstanding but not yet issued (823,500) have been excluded as a common stock equivalent in the diluted loss per share because their effect would be anti-dilutive. For the nine months ended September 30, 2020, shares issuable upon the exercise of warrants (8,000,000), shares convertible for debt (3,616,539) and shares outstanding but not yet issued (356,186) have been excluded as a common stock equivalent in the diluted loss per share because their effect would be anti-dilutive.

8

Derivative Instruments

The Company accounts for derivative instruments in accordance with Accounting Standards Codification 815, Derivatives and Hedging (“ASC 815”), which establishes accounting and reporting standards for derivative instruments, including certain derivative instruments embedded in other contracts, and for hedging activities. They require that an entity recognize all derivatives as either assets or liabilities in the balance sheet and measure those instruments at fair value.

If certain conditions are met, a derivative may be specifically designated as a hedge, the objective of which is to match the timing of gain or loss recognition on the hedging derivative with the recognition of (i) the changes in the fair value of the hedged asset or liability that are attributable to the hedged risk or (ii) the earnings effect of the hedged forecasted transaction. For a derivative not designated as a hedging instrument, the gain or loss is recognized in income in the period of change. The Company did not have any derivative liabilities as of September 30, 2021. During the year ended December 31, 2020, the Company entered into two convertible notes creating derivative liabilities which were converted into shares and settled during the year.

Fair Value of Financial Instruments

Fair value measurements are determined by the Company’s adoption of authoritative guidance issued by the FASB, with the exception of the application of the statement to non-recurring, non-financial assets and liabilities, as permitted. Fair value is defined in the authoritative guidance as the price that would be received to sell an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. A fair value hierarchy was established, which prioritizes the inputs used in measuring fair value into three levels as follows:

Level 1 – Valuation based on unadjusted quoted market prices in active markets for identical assets or liabilities.

Level 2 – Valuation based on, observable inputs (other than level one prices), quoted market prices for similar assets such as at the measurement date; quoted prices in the market that are not active; or other inputs that are observable, either directly or indirectly.

Level 3 – Valuation based on unobservable inputs that are supported by little or no market activity, therefore requiring management’s best estimate of what market participants would use as fair value.

The following table represents the Company’s assets and liabilities by level measured at fair value on a recurring basis at September 30, 2021 and December 31, 2020:

Description		Level 1		Level 2		Level 3
September 30, 2021 Derivative Liabilities	$	-	$	-	$	-
December 31, 2020 Derivative Liabilities	$	-	$	-	$	-

All gains and losses on assets and liabilities measured at fair value on a recurring basis and classified as Level 3 within the fair value hierarchy are recognized in other interest income and expense in the accompanying condensed unaudited consolidated financial statements.

As of and for the nine months ended September 30, 2021, the Company did not have a derivative or derivative activity.

The following assets and liabilities are measured on the balance sheets at fair value on a recurring basis utilizing significant unobservable inputs or Level 3 assumptions in their valuation. The following tables provide a reconciliation of the beginning and ending balances of the liabilities:

The change in the convertible notes payable derivative liabilities at fair value for the nine-month period ended September 30, 2020, is as follows:

	Fair Value January 1, 2020		Change in Fair Value			New Convertible Notes		(Gain)/loss on Settlement			Conversions			Fair Value September 30, 2020
Derivative Liabilities	$	-	$	(53,023	)	$	204,978	$	(28,916	)	$	(42,616	)	$	80,423

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Stock Based Compensation

The Company follows Accounting Standards Codification subtopic 718-10, Compensation (“ASC 718-10”) which requires that all share-based payments to both employees and non-employees be recognized in the income statement based on their fair values. At September 30, 2021, the Company did not have any outstanding stock options.

Concentration and Credit Risk

Financial instruments and related items, which potentially subject the Company to concentrations of credit risk consist primarily of cash. The Company places its cash with high credit quality institutions. At times, such deposits may be in excess of the FDIC insurance limit of $250,000. The Company did not have cash on deposit in excess of such limit on September 30, 2021 and December 31, 2020.

Research and Development

The Company accounts for research and development costs in accordance with Accounting Standards Codification subtopic 730-10, Research and Development (“ASC 730-10”). Under ASC 730-10, all research and development costs must be charged to expense as incurred. Accordingly, internal research and development costs are expensed as incurred. Third-party research and development costs are expensed when the contracted work has been performed or as milestone results have been achieved as defined under the applicable agreement. Company-sponsored research and development costs related to both present and future products are expensed in the period incurred. The Company incurred research and development expenses of $48,000 and $0 for the three months ended September 30, 2021 and 2020, and $126,000 and $0 for the nine months ended September 30, 2021 and 2020, respectively.

Issuance of Common Stock

The issuance of common stock for other than cash is recorded by the Company at market values based on the closing price of the stock on the date of any such grant.

Impact of New Accounting Standards

Management does not believe that any recently issued, but not yet effective accounting pronouncements, if adopted, would have a material effect on the accompanying condensed unaudited consolidated financial statements.

NOTE 4 – PROPERTY, PLANT, AND EQUIPMENT

	Range of Lives in Years		September 30, 2021			December 31, 2020
Equipment		5	$	2,032		$	2,032
Furniture and fixtures		5		1,983			1,983
				4,015			4,015
Less accumulated depreciation				(4,015	)		(4,015	)
			$	0		$	0

Depreciation expense was $0 for the nine months ended September 30, 2021 and 2020, respectively.

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NOTE 5 – CONVERTIBLE NOTES PAYABLE AND NOTES PAYABLE RELATED PARTIES

Convertible notes payable, including notes payable to related parties consisted of the following at September 30, 2021 and December 31, 2020 respectively:

	September 30, 2021		December 31, 2020
Secured notes payable with related parties at 18% per annum related to the Mabert LLC as Agent Loan Agreement originally dated September 14, 2018 for up to $5,000,000 (as amended), shown net of debt discount of $16,439 and $13,153 (1)	$	2,737,566	$	2,411,605
Total notes payable related parties	$	2,737,566	$	2,411,605
Unsecured convertible note payable at 4.5% per annum dated December 20, 2017 to a corporation, payable in two parts on January 8, 2018 and 2019 (2)		166,667		166,667
Promissory Note at 7.7% simple interest only, payable semi-annually, with interest due calculated on a 365-day year, default interest at 18%, with the principal amount due August 15, 2022 (3)		525,000		525,000
Settlement agreement to pay $5,000 per month for 60 monthly installments beginning March 2019. (4)		155,000		195,000
Total notes payable and convertible notes payable	$	846,667	$	886,667

(1) On September 14, 2018, the Company entered into a loan agreement with a private company, Mabert LLC, acting as Agent for various private lenders (the “Loan Agreement”) for the purpose of funding working capital and general corporate expenses up to $1,500,000, subsequently amended to a maximum of $5,000,000. Mabert LLC is a Texas limited liability company, owned by Director and stockholder, Kevin Jones, and his late wife Christine Early (for each and all references herein forward, “Mabert”). The loan is fully secured, Mabert having filed a UCC-1 with the State of Texas. For each Promissory Note loan made under the Loan Agreement, as a cost to each note, the Company agreed to issue warrants and/or stock for Common Stock valued at $0.01 per share on an initial one-time basis at 3.67:1 and subsequently on a 2:1 basis for each dollar borrowed.

Under the Loan Agreement, various private lenders have loaned gross loan proceeds of $2,754,005 (excluding a debt discount of $16,439, for a net $2,737,566 book debt) through September 30, 2021. Mr. Jones, and his late wife have loaned $2,821,586 from inception through September 30, 2021, including $142,936 in the three-month period ended September 30, 2021, and have received $100,000 in loan repayments. Pursuant to ACS 470, the fair value attributable to a discount on the debt is $16,439 and $26,389 for the nine months ended September 30, 2021 and 2020, respectively; this amount is amortized to interest expense on a straight-line basis over the terms of the loans.

The private party loans with the Company are often established by converting the Company’s outstanding stockholder advances due to related parties into a new note payable under the Loan Agreement in the quarter following the advance. There have been instances in which private lenders, under the Loan Agreement, enter into loans directly with the Company (not through an advance). As of December 31, 2020, the Company had a total of $142,934 in stockholder advances. In 2021, the Company received proceeds of $429,249 in the form of stockholder advances. Additionally, during the nine months ended September 30, 2021, a total of $429,247 has been converted to notes payables with related parties and the Company has made payments of $100,000 on the notes payable to related parties. The remaining $142,936 in stockholder advances will be converted into a note payable with related parties during the fourth quarter of 2021.

On March 31, 2020, the Company executed a Promissory Note under the Loan Agreement with Kevin Jones, a Director and shareholder for $101,823, at 18% interest per annum. As a cost of the note, the Company agreed to issue 203,646 shares of its Common Stock at a market price of $0.06 per share for a total debt discount of $10,901, subject to standard Rule 144 restrictions.

On July 1, 2020, the Company executed a Promissory Note under the Loan Agreement with Kevin Jones, a Director and shareholder for $128,093, at 18% interest per annum. As a cost of the note, the Company agreed to issue 256,186 shares of its Common Stock at a market price of $0.04 per share for a total debt discount of $9,488, subject to standard Rule 144 restrictions.

On July 1, 2020, the Company executed a Promissory Note under the Loan Agreement with Ransom Jones, a Director and shareholder for $25,000, at 10% interest per annum. As a cost of the note, the Company agreed to issue 50,000 shares of its Common Stock at a market price of $0.04 per share for a total debt discount of $1,852, subject to standard Rule 144 restrictions.

On July 1, 2020, the Company executed a Promissory Note under the Loan Agreement with Kent Harer, a Director and shareholder for $25,000, at 10% interest per annum. As a cost of the note, the Company agreed to issue 50,000 shares of its Common Stock at a market price of $0.04 per share for a total debt discount of $1,852, subject to standard Rule 144 restrictions.

On August 28, 2020, the Company executed a Promissory Note under the Loan Agreement with Michael Wykrent, a Director and shareholder for $10,000, at 18% interest per annum. As a cost of the note, the Company agreed to issue 20,000 shares of its Common Stock at a market price of $0.02 per share for a total debt discount of $293, subject to standard Rule 144 restrictions.

On October 1, 2020, the Company executed a Promissory Note under the Loan Agreement with Kevin Jones, a Director and shareholder for $95,352, at 18% interest per annum. As a cost of the note, the Company agreed to issue 190,704 shares of its Common Stock at a market price of $0.02 per share for a total debt discount of $2,795, subject to standard Rule 144 restrictions.

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On October 1, 2020, the Company executed a Promissory Note under the Loan Agreement with Ransom Jones, a Director and shareholder for $3,433, at 10% interest per annum. As a cost of the note, the Company agreed to issue 6,867 shares of its Common Stock at a market price of $0.02 per share for a total debt discount of $101, subject to standard Rule 144 restrictions.

On October 1, 2020, the Company executed a Promissory Note under the Loan Agreement with Kent Harer, a Director and shareholder for $5,000, at 10% interest per annum. As a cost of the note, the Company agreed to issue 10,000 shares of its Common Stock at a market price of $0.02 per share for a total debt discount of $147, subject to standard Rule 144 restrictions.

On January 1, 2021, the Company executed a Promissory Note under the Loan Agreement with Kevin Jones, a Director and shareholder for $142,934, at 18% interest per annum. As a cost of the note, the Company agreed to issue 285,868 shares of its Common Stock at a market price of $0.03 per share for a total debt discount of $8,014, subject to standard Rule 144 restrictions

On April 1, 2021, the Company executed a Promissory Note under the Loan Agreement with Michael Wykrent, a Director and shareholder for $70,000, at 18% interest per annum. As a cost of the note, the Company agreed to issue 140,000 shares of its Common Stock at a market price of $0.03 per share for a total debt discount of $3,962, subject to standard Rule 144 restrictions.

On April 1, 2021, the Company executed a Promissory Note under the Loan Agreement with Kent Harer, a Director and shareholder for $5,000, at 18% interest per annum. As a cost of the note, the Company agreed to issue 10,000 shares of its Common Stock at a market price of $0.03 per share for a total debt discount of $283, subject to standard Rule 144 restrictions.

On April 1, 2021, the Company executed a Promissory Note under the Loan Agreement with Kevin Jones, a Director and shareholder for $112,064, at 18% interest per annum. As a cost of the note, the Company agreed to issue 224,128 shares of its Common Stock at a market price of $0.03 per share for a total debt discount of $6,343, subject to standard Rule 144 restrictions.

On July 1, 2021, the Company executed a Promissory Note under the Loan Agreement with Kevin Jones, a Director and shareholder for $99,250, at 18% interest per annum. As a cost of the note, the Company agreed to issue 198,500 shares of its Common Stock at a market price of $0.07 per share for a total debt discount of $12,189, subject to standard Rule 144 restrictions. The 224,128 shares of common stock are reported in common stock to be issued as of September 30, 2021, as they were not yet issued by the Company.

Each of the individual Promissory Notes have one-year terms, automatically renewable, unless an individual lender under the Loan Agreement notifies the agent within 60 days of the term that they would like payment of the principal and accrued interest upon the end of such promissory note term. No lenders requested payment for such individual promissory notes through the period ended September 2021.

(2) On December 20, 2017, the Company issued a convertible promissory note for $166,667, fully payable by December 20, 2019. This loan is in default for breach of payment. By its terms, the cash interest payable increased to 18% per annum on December 20, 2018 and continues at such rate until the default is cured or is paid at term. See Note 6 – Notes Payable and Convertible Notes Payable.

(3) On September 26, 2019, the Company entered into a Settlement Agreement with Southwest Capital Funding Ltd. (“Southwest”),as part of the consideration for an agreed stipulated judgement, we agreed to provide Southwest a Promissory Note in the amount of $525,000, providing for a three-year term, at 7.7% simple interest only, payable semi-annually, with interest due calculated on a 365-day year, default interest at 18%, with the principal amount due at maturity. The Company did not pay the third semi-annual interest payment when it was due in February 2021, and thus reported the note as a current liability as of December 31, 2020. In May 2021, the Company made the semi-annual interest payment (including late fees), cured the default and reclassed the note back to long-term liabilities. As of August 15, 2021, the maturity date of the note is one year and thus the Company reclassed the note to current liabilities for the period ended September 30, 2021. Since the note was issued, four semiannual payments of interest have been paid. See Note 6 – Notes Payable and Convertible Notes Payable.

(4) On March 6, 2019, the Company entered into Settlement Agreement with Wildcat Consulting Group LLC (“Wildcat”), as settlement of a consulting agreement lawsuit the Company agreed to pay Wildcat a total of $300,000, payable in sixty monthly installments of $5,000 per month beginning March 2019 and continuing each month until the settlement is paid in full.

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NOTE 6 – NOTES PAYABLE AND CONVERTIBLE NOTES PAYABLE

The Company issued a $166,667 convertible promissory note bearing interest at 4.50% per annum to a company, Tunstall Canyon Group, LLC, payable in two installments of $86,667 on December 20, 2018 and $80,000, plus accrued interest on December 20, 2019. Per the terms of the promissory note, the holder has the right to convert the note into common stock of the Company at a conversion price of $0.08 per share for each one dollar of cash payment which may be due (which would be 1,083,333 shares for the first $86,667 payment and 1,000,000 shares for the second $80,000 installment payment, respectively). As of December 20, 2018, a material event of default occurred for breach of payment of the interest then due, with such default continuing thought the date of this report. The holder of the note has the right to convert at any time and has indicated that it might convert under settlement discussions with the principal, Richard Halden, unrelated to this convertible note. See Note 5 – Convertible Notes Payable and Notes Payable Related Parties.

The Company evaluated the terms of the convertible note in accordance with ASC 815-40, Contracts in Entity’s Own Equity, and concluded that the Convertible Note did not result in a derivative. The Company evaluated the terms of the convertible note and concluded that there was a beneficial conversion feature since the convertible note was convertible into shares of common stock at a discount to the market value of the common stock. The discount related to the beneficial conversion feature on the note was valued at $27,083 based on the $0.013 difference between the market price of $0.093 and the conversion price of $0.08 times the 2,083,325 conversion shares. As a result of the event of default, the discount related to the beneficial conversion feature has been extinguished for the balance of 2018, and until the event of default is cured or the note is converted to common shares.

On September 26, 2019, the Company entered into a Settlement Agreement with Southwest Capital Funding Ltd. (“Southwest”) to resolve all conflicts related to a lawsuit in Hawaii, cause no. 16-1-0342, in the Circuit Court of the Third Circuit, State of Hawaii, styled Southwest Capital Funding, Ltd. v. Mamaki Tea, Inc., et. al., whereby the Company had provided loan guarantees for Mamaki of Hawaii, Inc., Hawaiian Beverages, Inc., Curtis Borman, and Lee Jenison. As part of the consideration for an agreed stipulated judgement, we agreed to provide Southwest a Promissory Note in the amount of $525,000, providing for a three-year term, at 7.7% simple interest only, payable semi-annually, with interest due calculated on a 365-day year, default interest at 18%, with the principal amount due at maturity. The principal balance of $525,000 and remaining accrued interest on the note is due August 15, 2022. In addition, we agreed to issue and deliver to Southwest 1,000,000 shares of Rule 144 restricted Common Stock valued at $0.05 per share. The shares were issued in the 3^rd quarter 2019 and were fully expensed in the period ended December 2019. The Company did not pay the third semi-annual interest payment when it was due in February 2021. In May 2021, the Company made the semi-annual interest payment (including late fees) and cured the default. See Note 5 – Convertible Notes Payable and Notes Payable Related Parties.

NOTE 7 – ACCRUED EXPENSES

Accrued expenses consisted entirely of accrued consulting fees. The consulting work involved fundraising and capital raising activities with potential investors for the Company, as well as consulting work related to chemical engineering and plant operations.

NOTE 8 – CAPITAL STRUCTURE

The Company is authorized to issue 500,000,000 shares of Common Stock with a par value of $.0001 per share, with each share having one voting right.

Common Stock

At September 30, 2021, there were 346,602,500 total shares of Common Stock outstanding.

During the three-months ended September 30, 2021, the Company: issued 3,911,628 shares of Rule 144 restricted Common Stock, including 3,687,500 shares issued in private placement to fifteen (15) accredited investors at an average price of $0.05 per share for $182,500, and 224,128 shares for costs related to the issuance of promissory notes at an average price of $0.03 per share. As of September 30, 2021, the Company has 198,500 shares of common stock to be issued to Kevin Jones, a related party, for costs related to issuance of promissory notes, and 625,000 shares of common stock to be issued in private placement to one (1) accredited investor, these shares will be issued in the fourth quarter of 2021.

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During the three-months ended June 30, 2021, the Company: issued 6,222,797 shares of Rule 144 restricted Common Stock, including 4,766,667 shares issued in private placement to five (5) accredited investors at an average price of $0.04 per share for $173,000, and 482,500 shares issued for payment of consulting fees at a price of $0.03 per share, and 973,630 shares for costs related to the issuance of promissory notes at an average price of $0.05 per share.

During the three-months ended March 31, 2021, the Company: issued 1,200,000 shares of Rule 144 restricted Common Stock, issued in a private placement to an accredited investor, at $0.03 per share for $36,000.

During the three-months ended September 30, 2020, the Company issued 4,823,768 shares of Rule 144 restricted Common Stock as the result of a lender’s conversion of a portion of note principal at an average price of $0.02 per share.

During the three-months ended June 30, 2020, the Company: issued 904,711 shares of Rule 144 restricted Common Stock, including 375,000 shares issued in a private placement to an accredited investor, at $0.04 per share, and 529,711 shares at an average of $0.06 per share for the settlement of legal expenses which were previously accrued pursuant to agreements with two prior law firms.

During the three-months ended March 31, 2020, the Company: issued 13,824,607 shares of Rule 144 restricted Common Stock, including 600,000 shares issued in a private placement to an accredited investor, at $0.10 per share, 3,906,610 for the conversion of a prior loan at $0.047 per shares, 1,460,260 shares for costs related to the issuance of promissory notes at an average $0.085 per share and 857,737 shares at $0.01 per share from convertible warrants conversions. Shares to be issued are for the settlement of legal expenses which were accrued pursuant to agreements with two prior law firms.

At December 31, 2020, there were 335,268,075 shares of Common Stock issued and outstanding.

Stock options, warrants and other rights

As of September 30, 2021 and 2020 respectively, the Company has not adopted and does not have an employee stock option plan.

For the year ended December 2020, the Company had 7,000,000 warrants outstanding, of which 4,000,000 have expired in 2021. As of September 30, 2021, the Company had total warrants issued and outstanding of 3,000,000, which are in favor of Dean Goekel and expire in June 2022. The exercise price of these remaining warrants is $0.03. There is no unvested expense relating to the warrants. After meeting certain deliverables set forth in the agreement, Mr. Goekel will be issued additional stock warrants for 1,000,000 shares at a strike price that is an average of the stock price for the 90 days that the deliverables have been met.

NOTE 9 - RELATED PARTY TRANSACTIONS

After approval during a properly called special meeting of the board of directors, on September 14, 2018 Mabert, LLC, a Texas Limited Liability Company owned by a director and stockholder, Kevin Jones and his late wife Christine Early, as an Agent for various private lenders including themselves, entered into a loan agreement (“Loan Agreement”) for the purpose of funding working capital and general corporate expenses for the Company of up to $1,500,000, which was subsequently amended to provide up to $5,000,000. The Company bylaws provide no bar from transactions with Interested Directors, so long as the interested party does not vote on such transaction. Mr. Jones as an Interested Director did not vote on this transaction. Since the inception of the Loan Agreement through September 30, 2021, a total of $2,754,005 (excluding a debt discount of $16,439) has been loaned to the Company and $911,062 has been accrued in interest by eight shareholders, including Mr. Jones. See Note 5 – Convertible Notes Payable and Notes Payable Related Parties.

Through Mabert, as of September 30, 2021, Mr. Jones along with his late wife and his company have loaned $2,678,651, net of repayments, and six other shareholders have loaned the balance of the Mabert Loans. These loans are secured by the assets of the Company. A financing statement and UCC-1 have been filed according to Texas statutes. Should a default under the loan agreement occur, there could be a foreclosure or a bankruptcy proceeding filed by the Agent for these shareholders. The actions of the Company in case of default can only be determined by the shareholders. A foreclosure sale or distribution through bankruptcy could only result in the creditors receiving a pro rata payment based upon the terms of the loan agreement. Mabert did not nor will it receive compensation for its work as an agent for the lenders.

For the period ended September 30, 2021, the Company accrued expenses for related parties of $2,006,902 to account for the total deferred compensation expenses among two current executives, two former executive and one current employee. Each of the current executives and employees have agreed to defer their compensation until such time as sufficient cash is available to make such payments, the Company’s Chief Financial Officer having the express authority to determine what constitutes cash sufficiency from time-to-time.

14

Through the period ended September 30, 2021, the Company received $142,936 in cash advances (net of conversions to notes payable) from one of our directors, Kevin Jones, a greater than 5% shareholder. Through the period ended September 30, 2020, the Company received $113,785 in cash and payment advances from four directors, Michael Wykrent, Ransom Jones, Kent Harer and Kevin Jones, a greater than 5% shareholder, in the amounts of $10,000, $3,433, $5,000 and $95,352 respectively. These amounts have been accrued as Advances - related parties for the periods.

Through the periods ended September 30, 2021 and December 31, 2020, the Company made advances to an affiliate, OPMGE, of $412,885. As reported previously, the Company owns a non-consolidating 42.86% interest in the OPMGE GTL plant located in Wharton, Texas. In the event of default, the Company holds a second lien against the assets of OPMGE. The amount advanced was booked as a related party receivable by the Company. Given the uncertainty of the collectability of this receivable, the Company has fully reserved the full amount of this equity method receivable with OPMGE as of December 31, 2020. The Company does not consider the results of the equity method investee to be material to the Company’s net loss. The cost basis for this equity method investee is zero and thus, losses have not been allocated to the Company.

NOTE 10 – COMMITMENTS AND CONTINGENCIES

Employment Agreements

In August 2012, the Company entered into an employment agreement with our chairman of the board, Ray Wright, as president of Greenway Innovative Energy, Inc., for a term of five years with compensation of $90,000 per year. In September 2014, Wright’s employment agreement was amended to increase such annual pay to $180,000. By its terms, the employment agreement automatically renews each year for successive one-year periods, unless otherwise earlier terminated. During the three-month period ended September 30, 2021, the Company paid and/or accrued a total of $45,000 for the period under the terms of the agreement.

Effective May 10, 2018, the Company entered into identical employment agreements with John Olynick, as President, and Ransom Jones, as Chief Financial Officer, respectively. The terms and conditions of their employment agreements were identical. John Olynick elected not to renew his employment agreement and resigned as President on July 19, 2019. Ransom Jones, as Chief Financial Officer, earns a salary of $120,000 per year. Mr. Jones also serves as the Company’s Secretary and Treasurer. During each year that Mr. Jones’ agreement is in effect, he is entitled to receive a bonus (“Bonus”) equal to at least Thirty-Five Thousand Dollars ($35,000) per year, such amount having been accrued for the period ended September 30, 2021. Both Mr. Olynick and Mr. Jones received a grant of common stock (the “Stock Grant”) at the start of their employment equal to 250,000 shares each of the Company’s Common Stock, par value $.0001 per share (the “Common Stock”), such shares vesting immediately. Mr. Jones is also entitled to participate in the Company’s benefit plans when such plans exist.

Effective April 1, 2019, the Company entered into an employment agreement with Ryan Turner for a term of twelve (12) months with compensation of $80,000 per year, to manage the Company’s Business Development and Investor Relations functions. Turner reports to the President of Greenway Technologies and is entitled to a no-cost grant of common stock equal to 2,500,000 shares of the Company’s Rule 144 restricted common stock, par value $.0001 per share, valued at $.06 per share, or $150,000, which was expensed as of the effective date of the agreement. Such stock-based compensation shares were physically issued in February 2020. Mr. Turner is no longer with the Company.

Other

In the August 2012 acquisition agreement with Greenway Innovative Energy, Inc. (“GIE”), the Company agreed to: (i) issue an additional 7,500,000 shares of restricted common stock when the first portable GTL unit is built and becomes operational, and, is capable of producing 2,000 barrels of diesel or jet fuel per day, and (ii) pay a 2% royalty on all gross production sales on each unit placed in production. In connection with a settlement agreement with the Greer Family Trust (‘Trust”), the successor owner of one of the two founders and prior owners of GIE on February 6, 2018, the Company exchanged Greer’s half of the 7,500,000 shares (3,750,000 shares) to be issued in the future, Greer’s half of the 2% royalty, a termination of Greer’s then current Employment Agreement and the Trust’s waiver of any future claims against the Company for any reason, for the issuance and delivery to the Trust of three million (3,000,000) restricted shares of the Company’s common stock and a convertible Promissory Note for $150,000. As a result, only 3,750,000 common shares are committed to be later issued under the original 2012 acquisition agreement.

The Company has accrued management fees of $1,301,964 related to separation agreements and settlement expenses for two prior executives of the Company, Richard Halden and Randy Moseley, who both resigned from their respective management positions in 2016, with Halden then further resigning as a director from our Board of Directors in Feb 2017. Although we have not maintained currency with respect to the contractual payment obligations therein, both former employees are greater than five percent shareholders and had agreed to defer payments until such time as we have sufficient available liquidity to begin making payments on a regular basis. In March 2020, Halden filed suit against the Company alleging claims arising from his severance and release agreement between the parties, seeking to recover monetary damages, interest, court costs, and attorney’s fees. The Company answered the lawsuit and asserted a number of affirmative defenses; subsequently, the lawsuit was dismissed without prejudice on November 19, 2019. Other than an increase in our legal expenses related to defending against Halden’s lawsuit, and given the subsequent dismissal of the same, we expect no further material financial impacts from such accrued fees until any such regular payments are able to begin, or another form of settlement is reached.

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Leases

In February 2016, the Financial Accounting Standards Board (“FASB”) issued ASU 2016-02, Leases (Topic 842). The updated guidance requires lessees to recognize lease assets and lease liabilities for most operating leases. In addition, the updated guidance requires that lessors separate lease and non-lease components in a contract in accordance with the new revenue guidance in ASC 606. This guidance is effective for interim and annual reporting periods beginning after December 15, 2018. The Company adopted this guidance effective January 1, 2019 and noted that the leases discussed below did meet the requirements for recording a right of use asset or liability under ASC-842 given that they were short term leases.

Greenway rents approximately 600 square feet of office space at 1521 North Cooper St., Suite 205, Arlington, Texas 76011, at a rate of $949 per month, under a one-year lease agreement, renewable for successive one-year terms in the Company’s sole discretion.

Each September, the Company pays $11,880 in annual maintenance fees on its Arizona BLM mining leases, under one-year lease agreements, renewable for successive one-year terms in the Company’s sole discretion in addition. These leases provide for 10% royalties based on production, if any. There has been no production to date.

Legal Matters

On October 19, 2019 the Company was served with a lawsuit by Norman Reynolds, a previously engaged counsel by the Company. The suit was filed in Harris County District Court, Houston, Texas, asserting claims for unpaid fees of $90,378. The jurisdiction for the case was moved to Tarrant County District Count, Fort Worth, Texas. While fully reserved, Greenway vigorously disputes the total amount claimed. Greenway has asserted counterclaims based upon alleged conflicts of interest, breaches of fiduciary duty and violations of the Texas Deceptive Trade Practices Act (“DTPA”). During the fourth quarter of 2021, the two parties met for mediation but no conclusion was reached. Greenway is confident in its defenses and counterclaims and intends to vigorously defend its interests and prosecute its claims.

On September 7, 2021, the Company was served with a demand for mediation and potential arbitration by Gregory Sanders, a previous employee of the Company. The demand claims Mr. Sanders had an employment agreement with the Company entitling him to certain compensation payments under the contract. No conclusion was met during mediation which occurred in the fourth quarter of 2021. Greenway is confident in its defenses and counterclaims and intends to vigorously defend its interests and prosecute its claims.

Capital Expenditures

The last funded Scope of Work (“SOW”) under our SRA with UTA was completed in the year ended December 2019, with payments made of $120,000 to complete the work described in the prior SOW. We signed a new SRA with UTA effective March 1, 2021 which relates to the testing and commercialization phase of our GTL technology. The term of the agreement is through February 15, 2022. The first payment under the SRA was made in March 2021 for $30,000. Going forward on the 15^th of each month we will pay UTA $15,454.54 through February 15, 2022, for a total commitment of $200,000. For the nine-months ended September 30, 2021, we have paid UTA a total of $126,000.

NOTE 11-SUBSEQUENT EVENTS

Effective November 3, 2021, Kevin Jones resigned from the Board of Directors for the Company.

From October 1, 2021 through November 15, 2021, the Company issued 2,291,667 shares of Rule 144 restricted Common Stock issued in private placements to three accredited investors at an average price of $0.03 per share.

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Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations.

CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS

The following discussion and analysis of our results of operations and financial condition for the periods ending September 30, 2021 and 2020 should be read in conjunction with our unaudited Financial Statements and the notes to those unaudited Financial Statements that are included elsewhere in this Form 10-Q and were prepared assuming that we will continue as a going concern. Our discussion includes forward-looking statements based upon current expectations that involve risks and uncertainties, such as our plans, objectives, expectations, and intentions. Actual results and the timing of events could differ materially from those anticipated in these forward-looking statements as a result of a number of factors, including those set forth under the “Risk Factors,” “Cautionary Notice Regarding Forward-Looking Statements” and “Description of Business” sections and elsewhere in this Form 10-Q. We use words such as “anticipate,” “estimate,” “plan,” “project,” “continuing,” “ongoing,” “expect,” “believe,” “intend,” “may,” “will,” “should,” “could,” “predict,” and similar expressions to identify forward-looking statements. Although we believe the expectations expressed in these forward-looking statements are based on reasonable assumptions within the bounds of our knowledge of our business, our actual results could differ materially from those discussed in these statements. We undertake no obligation to update publicly any forward-looking statements for any reason even if new information becomes available or other events occur in the future.

Information regarding market and industry statistics contained in this Report is included based on information available to us that we believe is accurate. Much of this general market information is based on industry trade journals, articles and other publications that are not produced for purposes of SEC filings or economic analysis. We have not reviewed nor included data from all possible sources and cannot assure investors of the accuracy or completeness of any such data that is included in this Report. Forecasts and other forward-looking information obtained from these sources are subject to the same qualifications and the additional uncertainties accompanying any estimates of future market size, revenue and market acceptance of our services. As a result, investors should not place undue reliance on these forward-looking statements, and we do not assume any obligation to update any forward-looking statement.

The following discussion and analysis of financial condition, results of operations, liquidity, and capital resources, should be read in conjunction with our Annual Form 10-K filed on April 14, 2021. As discussed in Note 2 to these condensed unaudited consolidated financial statements, our recurring net losses and inability to generate sufficient cash flows to meet our obligations and sustain our operations raise substantial doubt about our ability to continue as a going concern. Management’s plans concerning these matters are also discussed in Note 2 to the condensed unaudited consolidated financial statements. This discussion contains forward-looking statements that involve risks and uncertainties, including information with respect to our plans, intentions and strategies for our businesses. Our actual results may differ materially from those estimated or projected in any of these forward-looking statements.

In this Form 10-Q, “we,” “our,” “us,” the “Company” and similar terms in this report, including references to “Greenway” all refer to Greenway Technologies, Inc., and our wholly-owned subsidiary, Greenway Innovative Energy, Inc., unless the context requires otherwise.

Overview

We are engaged in the research and development of proprietary gas-to-liquids (“GTL”) synthesis gas (“Syngas”) conversion systems and micro-plants that can be scaled to meet specific gas field production requirements. Our patented and proprietary technologies have been realized in our first commercial G-Reformer^TM unit (“G-Reformer”), a unique component used to convert natural gas into Syngas which when combined with a Fischer-Tropsch (“FT”) reactor and catalyst, produces a variety of fuels including gasoline, diesel, jet fuel and methanol. G-Reformer units can be deployed to process a variety of natural gas streams including pipeline gas, associated gas, flared gas, vented gas, coal-bed methane and/or biomass gas. When derived from any of these natural gas sources, the liquid fuels created are incrementally cleaner than conventionally produced oil-based fuels. Our Company’s objective is to become a material direct and licensed producer of renewable GTL synthesized diesel and jet fuels, with a near -term focus on U.S. market opportunities. For more information about our Company, please visit our website located at https://gwtechinc.com/.

Our GTL Technology

In August 2012, we acquired 100% of GIE, pursuant to that certain Purchase Agreement, by and between us and GIE, dated August 29, 2012, (the “GIE Acquisition Agreement”). GIE owns patents and trade secrets for a proprietary technology to convert natural gas into Syngas. Based on a new, breakthrough process called Fractional Thermal Oxidation™ (“FTO”), we believe that the G-Reformer, combined with conventional FT processes, offers an economical and scalable method to converting natural gas to liquid fuel. On February 15, 2013, GIE filed for its first patent on this GTL technology, resulting in the issue of U.S. Patent 8,574,501 B1 on November 5, 2013. On November 4, 2013, GIE filed for a second patent covering other unique aspects of the design and was issued U.S. Patent 8,795,597 B2 on August 5, 2014. The Company has several other pending patent applications, both domestic and international, related to various components and processes relating to our proprietary GTL methods, complementing our existing portfolio of issued patents and pending patent applications.

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On June 26, 2017, we and the University of Texas at Arlington (“UTA”) announced that we had successfully demonstrated our GTL technology at our sponsored Conrad Greer Laboratory at UTA, proving the viability of the science behind the technology.

On March 6, 2018, we announced the completion of our first commercial scale G-Reformer, a critical component in what we call the Greer-Wright GTL system. The G-Reformer is the critical component of the Company’s innovative GTL system. A team consisting of individuals from our Company, UTA and our Company’s contracted G-Reformer manufacturer worked together to test and calibrate the newly built G-Reformer unit. The testing substantiated the units’ Syngas generation capability and demonstrated additional proficiencies within certain proprietary prior prescribed testing metrics.

On July 23, 2019, we announced that Mabert LLC, a Texas limited liability company (“Mabert”), controlled by Kevin Jones, one of our directors, acquired INFRA Technology Group’s U.S. GTL plant and technology located in Wharton, Texas (the “Wharton Plant”). Mabert purchased the entire 5.2-acre site, plant and equipment, including INFRA’s proprietary FT reactor system and operating license agreement.

On August 29, 2019, to further facilitate the commercialization process, we announced that it entered into the joint venture, OPM Green Energy, LLC, a Texas limited liability company (“OPMGE”), for an ownership interest in the Wharton Plant. The other members of OPMGE are Mabert and Tom Phillips, Vice President of Operations for GIE. Our involvement in OPMGE is intended to facilitate third-party certification of our G-Reformer and related equipment and technology. In addition, we anticipate that OPMGE’s operations will demonstrate that the G-Reformer is a commercially viable technology for producing Syngas and marketable fuel products. As the first operating GTL plant to use our proprietary reforming technology and equipment, the Wharton Plant is initially expected to yield a minimum of 75 - 100 barrels per day of gasoline and diesel fuels from converted natural gas.

On April 28, 2020, the Company was issued a new U.S. Patent 10,633,594 B1 for syngas generation for gas-to-liquid fuel conversion. The Company has several other pending patent applications, both domestic and international, related to various components and processes involving our proprietary GTL methods, which when granted, will further complement our existing portfolio of issued patents and pending patent applications.

On December 8, 2020, the Company announced an exclusive worldwide patent licensing agreement with the University of Texas at Arlington (UTA) for all patent applications currently filed with the Patent and Trademark Office relating to GWTI’s natural gas reforming technologies developed under its sponsored research agreement with UTA.

On December 15, 2020, the Company announced additional information regarding valuable outputs produced by the company’s proprietary G-Reformer^™ catalyst reactor and Fischer-Tropsch (FT) technology which combine to form the “Greer-Wright” GTL solution. Originally developed to convert natural gas into ultra-clean synthetic fuel, recent research and development activity has shown that the technology can also allow the extraction of high-value chemicals and alcohols. The chemical outputs include n-Hexane, n-Heptane, n-Octane, n-Decane, n-Dodecane, and n-Tridecane. Alcohols produced include ethanol and methanol. The company has identified worldwide industrial demand for these outputs which will significantly improve the economic return on investment (ROI) of GTL plants that are based on GWTI’s technology. GWTI is a development-stage company with plans to commercialize its unique and patented technology.

Ultimately, we believe that our proprietary G-Reformer is a major innovation in gas reforming and GTL technology in general. Initial tests have demonstrated that our Company’s solution appears to be superior to legacy technologies, which are more costly, have a larger footprint, and cannot be easily deployed at field sites to process associated gas, stranded gas, coal-bed methane, vented gas, or flared gas. In addition, the Wharton Plant is anticipated to prove out the economics for the Company’s technology and GTL processes.

The technology for the G-Reformer is unique, because it permits for transportable (mobile) GTL plants with much smaller footprints, compared to legacy large-scale technologies. Thus, we believe that our technologies and processes will allow for multiple small-scale GTL plants to be built with substantially lower up-front and ongoing costs, resulting in more profitable results for oil and gas operators.

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GTL Industry –Market

GTL converts natural gas – the cleanest-burning fossil fuel – into high-quality liquid products that would otherwise be made from crude oil. These products include transport fuels, motor oils, and the ingredients for everyday necessities like plastics, detergents, and cosmetics. GTL products are colorless, odorless, and contain almost none of the impurities, (e.g., sulphur, aromatics, and nitrogen) that are found in crude oil.

Our Company has developed a revolutionary and unique process that converts natural gas of various origins and compositions into a highly pure variety of chemicals, high cetane diesel fuel, industrial grade pure water and electrical energy. GTL technology has existed as a traditional process going back generations. This process consists of two steps. First, natural gas is converted into Synthesis Gas (Syngas) which is a non-naturally occurring blend of Hydrogen and Carbon Monoxide. The front-end part of the GTL process is called “Gas Reformation”. The output of the Gas Reformer is compressed and fed through a secondary process, called Fischer-Tropsch (FT). This secondary process is widely used in many forms in the chemical and oil industries. While FT is a common process, Gas Reformation has been the most difficult step beyond an old and traditional process typically used in refineries. The invention of our software-controlled GTL process fronted by our patented and revolutionary gas reformation unit, the G-Reformer, makes us the innovator in GTL technology. Our patents are based on scalability, transportability, flexibility and self-sustainment based on a wide variety of input gasses and output mixtures.

The Company’s process is consists of small-sized modularly scalable units which are portable and self-contained unlike other GTL solutions based on Steam Methane reformation. While many companies have tried to scale Steam Methane Reformation down for use in smaller, non-refinery-based GTL plants, efforts have been largely unsuccessful. In contrast, we plan to build self-sufficient GTL plants at virtually any location capable of supplying wellhead or pipeline gas of sufficient ongoing volume. This gives us the ability to eliminate flaring at the source while keeping remote oil fields in production without flaring. The conversion of flaring gas to liquids allows for transportation of liquid chemicals, clean diesel fuel and highly clean water.

Our initial ROI studies of the market for the high purity chemicals we expect to produce can provide rapid payback of investments. It should be noted that today, the majority of these chemicals are produced in China. Because they are produced from oil at a refinery, they are much lower in purity than the same chemicals produced from gas.

Products created by the GTL process include high cetane diesel, naphtha, technical grade water, and high value, high purity chemicals. The chemicals produced in the GWTI GTL plant are vital to many industries including pharmaceuticals, cosmetics, fragrances, adhesives, and others. Dependency on China makes the United States captive to shortfalls whether manufacturing related or intentional. By producing these chemicals in the US, that dependency is reduced resulting in an increase in jobs, and a reduction of imports.

According to publicly available industry research from Shell Oil, MarketResearchFuture.com, and others, the market for GTL products was approximately $11.9 billion in 2019 and is expected to reach $20.4 billion by 2025, growing at a compound annual growth rate of 7.55%.

Development of stringent environmental regulations by numerous governments to control pollution and promote cleaner fuel sources is expected to complement industry growth. For example, we believe that U.S. guidelines such as the Petroleum and Natural Gas Regulatory Board Act, 2006, Oilfields (Regulation and Development) Act of 1948, and Oil Industry (Development) Act, 1974 are likely to continue to encourage GTL applications in diverse end-use industries to conserve natural gas and other resources. Under the Clean Air Act (CAA), the EPA sets limits on certain air pollutants, including setting limits on how much can be in the air anywhere in the United States. The Clean Air Act also gives EPA the authority to limit emissions of air pollutants coming from sources like chemical plants, refineries, utilities, and steel mills. Individual states or tribes may have stronger air pollution laws, but they may not have weaker pollution limits than those set by EPA. Because our G-Reformer based GTL plants are not considered refineries, they do not fall under any related current EPA air quality guidelines. More information can be found under the EPA’s New Source Performance Standards which are published under 40 CFR 60.

Competition

Key industry players include: Chevron Corporation; KBR Inc, PetroSA, Qatar Petroleum, Royal Dutch Shell, and Sasol Limited. In terms of global production and consumption, Shell had the largest market share in 2019, with virtually all current production located overseas. Our technology is not designed to compete with the large refinery-size GTL plants. Our plants are designed to be scaled to meet individual gas field production requirements on a distributed and mobile basis. According to a report released in July 2019 by the Global Gas Flaring Reduction Partnership (“GGFRP”), there are currently only five small-scale GTL plant technologies that have been proven for flared gas monetization available in the U.S., including: Greyrock (“Flare to Fuels”), Advantage Midstream (licensing Greyrock technology), EFT (“Flare Buster”), Primus, GE and GasTechno (“Methanol in a Box”). GWTI was not a direct part of this study, as we had not received 3rd party certification of our proprietary technology as of the date of this report.

However, the GGFRP report mentioned GWTI as follows, “Greenway Technologies announced on July 23 that Mabert LLC, a major investor in Greenway, acquired the whole INFRA plant including an operating license agreement. The purpose of the acquisition is the incorporation and commercial demonstration of Greenway’s ‘G-Reformer’ technology. We will see whether the new team will be able to make the plant with the new reformer operational. (Globe Newswire, Fort Worth, Texas, Aug 31, 2019).”

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Mining Interests

In December 2010, UMED acquired the rights to approximately 1,440 acres of placer mining claims located on Bureau of Land Management (“BLM”) land in Mohave County, Arizona (such property, the “Arizona Property”), in an Assignment Agreement dated December 27, 2010, between Melek Mining, Inc., 4HM Partners, Inc. and the Company, in exchange for 5,066,000 shares of our common stock. Early indications from samples taken and processed by Melek Mining provided reason to believe that the potential recovery value of the metals located on the Arizona Property could be significant, but only actual mining and processing will determine the ultimate value that may be realized from this property holding. While we are not currently conducting mining operations, we are exploring strategic options to partner or sell our interest in the Arizona Property, while we focus on our emerging GTL technology sales and marketing efforts.

Employees

As of the filing date of this Form 10-Q, we have two (2) full-time employees. Certain of these employees receive no compensation or compensation is deferred on a periodic basis by mutual written agreement. None of our employees are covered by collective bargaining agreements. We consider our employee relations to be satisfactory.

Going Concern

We remain dependent on outside sources of funding for continuation of our operations. Our independent registered public accounting firm issued a going concern qualification in their report dated April 14, 2021 and filed with our annual report on Form 10-K, which is included by reference to our Financial Statements and raises substantial doubt about our ability to continue as a going concern.

	September 30, 2021			December 31, 2020
Net loss	$	(1,412,879	)	$	(2,541,972	)
Net cash used in operations		(669,861	)		(686,032	)
Negative working capital		(9,795,323	)		(8,844,210	)
Stockholders’ deficit		(9,795,323	)		(8,844,210	)

As of September 30, 2021, we had total liabilities in excess of assets by $9,795,323 and used net cash of $669,861 for our operating activities. This is as compared to the most recent year ended December 31, 2020, when we used net cash of $686,032 for operating activities. These factors raise substantial doubt about our ability to continue as a going concern.

The Financial Statements included in our Form 10-Q do not include any adjustments relating to the recoverability and classification of recorded asset amounts or amounts and classification of liabilities that might be necessary should we be unable to continue in existence. Our ability to continue as a going concern is dependent upon our ability to generate sufficient new cash flows to meet our obligations on a timely basis, to obtain additional financing as may be required, and/or ultimately to attain profitable operations. However, there is no assurance that profitable operations, financing, or sufficient new cash flows will occur in the future.

Our ability to achieve profitability will depend upon our ability to finance, manufacture, and market/operate GTL units. Our growth is dependent on attaining profit from our operations and our raising additional capital either through the sale of our Common Stock or borrowing. There is no assurance that we will be able to raise any equity financing or sell any of our products at a profit. We will be unable to pay our obligations in the normal course of business or service our debt in a timely manner throughout 2021 without raising additional debt or equity capital. There can be no assurance that we will raise additional debt or equity capital.

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We are currently evaluating strategic alternatives that include (i) raising new equity capital and/or (ii) issuing additional debt instruments. The process is ongoing, lengthy and has inherent costs. There can be no assurance that the exploration of these strategic alternatives will result in any specific action to alleviate our 12-month working capital needs or result in any other transaction.

While we are attempting to commence operations and generate revenues, our cash position may be insufficient to support our daily operations. Management intends to raise additional funds by way of an offering of our securities. Management believes that the actions presently being taken to further implement our business plan and generate revenues provide the opportunity for us to continue as a going concern. While we believe in the viability of our strategy to generate revenues and in our ability to raise additional funds, we may not be successful. Our ability to continue as a going concern is dependent upon our capability to further implement our business plan and generate revenues.

Results of Operations

Three-months ended September 30, 2021, compared to Three-months ended September 30, 2020.

We had no revenues for our consolidated operations for the quarters ended September 30, 2021 and 2020. We reported consolidated net losses for each of these periods of $474,645 and $903,545, respectively.

Operating Expenses.

General and Administrative Expenses. During the three-months ended September 30, 2021, general and administrative expenses decreased to $277,285 as compared to $312,444 for the prior year three-months ended September 30, 2020. The decrease was primarily due to decreased legal fees and salaries in the period offset by increased consulting fees.

Research and Development Expenses. During the three-months ended September 30, 2021, Research and Development expenses increased to $48,000, as compared to $0 for the prior year three-months ended September 30, 2020. The change was due to payments for the Sponsored Research Agreement (“SRA”) with the University of Texas at Arlington for the testing and commercialization phase of our GTL technology.

Net Loss from Operations. Our net loss from operations increased to $325,285 for the quarter ended September 30, 2021, as compared to $312,444 for the quarter ended September 30, 2020.

Interest Expense. During the three-months period ended September 30, 2021, interest expense decreased to $149,360 as compared to interest expense of $192,391 for the prior year three-months ended September 30, 2020. The decrease was primarily due to the decreased interest expense from the settlement of the PowerUp loans in the year ended December 31, 2020.

Change in Fair Value of Derivative Liability and Derivative Expenses. During the three-months ended September 30, 2021, the loss on the fair value of derivatives was $0 as compared to a loss of $14,741, for the prior year three-month period in 2020. The change was due to the execution of the two PowerUp convertible notes payable in the first quarter of 2020, and the related changes in their fair values in the three-month period ended September 30, 2020. The convertible notes payable were settled as of December 31, 2020.

Net Loss. Our net loss decreased to $474,645 for the quarter ended September 30, 2021, as compared to $903,545 for the quarter ended September 30, 2020. The decrease was due primarily to a reserve of $412,885 being established for the OPMGE receivable in the quarter ended September 30, 2020.

Nine-months ended September 30, 2021, compared to Nine-months ended September 30, 2020.

We had no revenues for our consolidated operations for the nine-month periods ended September 30, 2021 and 2020. We reported consolidated net losses for each of these periods of $1,412,879 and $1,819,729, respectively.

Operating Expenses.

General and Administrative Expenses. During the nine-months ended September 30, 2021, general and administrative expenses decreased to $845,384, as compared to $890,946 for the prior year nine-months ended September 30, 2020. The decrease was primarily due to decreased legal fees, salaries, and travel expenses in the period offset by increased consulting fees.

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Research and Development Expenses. During the nine-months ended September 30, 2021, Research and Development expenses increased to $126,000, as compared to $0 for the prior year nine-months ended September 30, 2020. The change was due to the payment of the renewal fee for the Sponsored Research Agreement (“SRA”) with the University of Texas at Arlington and for the monthly payments on the SRA for the testing and commercialization phase of our GTL technology.

Net Loss from Operations. Our net loss from operations increased to $971,384 for the nine-months ended September 30, 2021, as compared to $890,946 for the nine-months ended September 30, 2020. The increase was due primarily to increased research and development expenses for the period.

Interest Expense. During the nine-months ended September 30, 2021, interest expense decreased to $441,495 as compared to interest expense of $564,668 for the prior year nine-months ended September 30, 2020. The decrease was primarily due to the decreased interest expense due to the settlement of the PowerUp loans in the year ended December 31, 2020.

Change in Fair Value of Derivative Liability and Derivative Expenses. During the nine-months ended September 30, 2021, the loss on the fair value of derivatives was $0 as compared to a gain of $53,023 for the change in the derivative fair value and a debt expense of $33,978 related to the derivatives, for the prior year nine-month period in 2020. The change was due to the execution of the two PowerUp convertible notes payable in the first quarter of 2020, and the related changes in their fair values through September 30, 2020. The convertible notes payable were settled as of December 31, 2020.

Net Loss. Our net loss decreased to $1,412,879 for the nine-months ended September 30, 2021, compared to a loss of $1,819,729 for the same nine-month period in 2020. The decrease was due primarily to a reserve of $412,885 being established for the OPMGE receivable in the nine-months ended September 30, 2020.

Liquidity and Capital Resources

We do not currently have sufficient working capital to fund our expected future operations. We cannot assure investors that we will be able to continue our operations without securing additional adequate funding. As of September 30, 2021, we had $37,516 in cash, total assets of $37,656, and total liabilities of $9,832,979. Our total accumulated deficit on September 30, 2021, was $(34,434,680).

Liquidity is the ability of a company to generate adequate amounts of cash to meet its needs for cash. In the nine-months ended September 30, 2021, our working capital deficit increased by $951,113, primarily as the result of increases in accrued expenses and accrued expenses – related parties of $418,012, accrued interest payable of $360,566 and increases in notes payable to related parties of $325,961.

We are exploring various means to increase our working capital, including completing additional private stock sales and entering into new debt instruments.

Operating activities

Net cash used in operating activities during the nine-months ended September 30, 2021, was $669,861, as compared to $548,633 for the nine-months ended September 30, 2020.

Investing activities

Net cash used in investing activities for the nine-months ended September 30, 2021, was $0 compared to $25,000 for the period ended September 30, 2020, consisting of additional advances to OPMGE for deposits on a piece of specialized commercial equipment required to convert the Wharton, TX manufacturing facility for use of our GTL technology.

Financing Activities

Net cash provided by financing activities was $705,749 for the nine-months ended September 30, 2021, consisting of stockholder advances - related party of $429,249, sales of the Company’s Common Stock to private accredited investors of $416,500, offset by payments on notes payable to related parties of $100,000 and payments on the note payable to Wildcat of $40,000. Net cash provided by financing activities was $558,692 for the nine-months ended September 30, 2020, consisting primarily of the proceeds from a loan made by Director and shareholder, Kevin Jones, a related party under the Mabert Loan Agreement of $101,833, two loans from PowerUp totaling $171,000, sales of the Company’s Common Stock to accredited private investors of $75,000, advances by four of our directors of $113,785, and an advance made by an unrelated party of $20,000, offset by payments on notes payable to Wildcat of $50,000.

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Our accompanying Financial Statements have been prepared on a going concern basis, which contemplates realization of assets and the satisfaction of liabilities in the normal course of business. Our general business strategy is to first develop our GTL technology to maintain our basic viability, while seeking significant development capital for full commercialization. Our ability to continue as a going concern is in doubt and dependent upon achieving a profitable level of operations and on our ability to obtain necessary financing to fund ongoing operations.

Seasonality

We do not anticipate that our business will be affected by seasonal factors.

Commitments

Capital Expenditures

The last funded Scope of Work (“SOW”) under our SRA with UTA was completed in the year ended December 2019, with payments made of $120,000 to complete the work described in the prior SOW. We signed a new SRA with UTA effective March 1, 2021 which relates to the testing and commercialization phase of our GTL technology. The term of the agreement is through February 15, 2022. The first payment under the SRA was made in March 2021 for $30,000. Going forward on the 15^th of each month we will pay UTA $15,454.54 through February 15, 2022, for a total commitment of $200,000. For the nine-months ended September 30, 2021, we have paid UTA a total of $126,000.

Operational Expenditures

Employment Agreements

In August 2012, we entered into an employment agreement with our chairman of the board, Ray Wright, as president of Greenway Innovative Energy, Inc., for a term of five years with compensation of $90,000 per year. In September 2014, Wright’s employment agreement was amended to increase such annual pay to $180,000. By its terms, the employment agreement automatically renews each year for successive one-year periods, unless otherwise earlier terminated. During the three-months ended September 30, 2021, the Company paid and/or accrued a total of $45,000 for the period under the terms of the agreement.

Effective May 10, 2018, we entered into identical employment agreements with John Olynick, as President, and Ransom Jones, as Chief Financial Officer, respectively. The terms and conditions of their employment agreements were identical. John Olynick elected not to renew his employment agreement and resigned as President on July 19, 2019. Ransom Jones, as Chief Financial Officer, earns a salary of $120,000 per year. Mr. Jones also serves as the Company’s Secretary and Treasurer. During each year that Mr. Jones’ agreement is in effect, he is entitled to receive a bonus (“Bonus”) equal to at least Thirty-Five Thousand Dollars ($35,000) per year, such amount having been accrued for the period ended September 2021. Both Mr. Olynick and Mr. Jones received a grant of common stock (the “Stock Grant”) at the start of their employment equal to 250,000 shares each of the Company’s Common Stock, par value $.0001 per share (the “Common Stock”), such shares vesting immediately. Mr. Jones is also entitled to participate in the Company’s benefit plans when such plans exist.

Mr. Olynick elected not to renew his employment agreement and resigned as President on July 19, 2019. Upon his resignation, we agreed to pay the balance of his Employment Agreement then due and owing over time. Accordingly, we accrued $110,084 for the balance of his Employment Agreement, against which we have paid $35,000, leaving a balance remaining of $75,084 as of September 30, 2021. In addition, Mr. Olynick had previously entered into a consulting agreement (the “Olynick Agreement”) to provide general advisory services with us on April 18, 2019, and which included terms for payment of billable time at $40.00 per hour, plus approved expenses. The Olynick Agreement was terminated when Mr. Olynick became President of the Company on May 10, 2018. We have accrued $24,710 in expenses related to such prior consulting agreement expenses.

Effective April 1, 2019, we entered into an employment agreement with Thomas Phillips, Vice President of Operations, for a term of 12 months with compensation of $120,000 per year. Mr. Phillips reports to the President of GIE. Pursuant to his employment agreement, Mr. Phillips is entitled to a no-cost grant of common stock equal to 4,500,000 shares of the Company’s Rule 144 restricted common stock, par value $.0001 per share, with such shares having been issued in February 2020. In addition, Mr. Phillips resigned from the Company effective December 15, 2020. We have accrued $175,000 for salary expenses outstanding as of September 30, 2021.

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Effective April 1, 2019, we entered into an employment agreement with Ryan Turner for a term of twelve (12) months with compensation of $80,000 per year, to manage our business development and investor relations. Mr. Turner reports to the President of Greenway Technologies and is entitled to a no-cost grant of common stock equal to 2,500,000 shares of the Company’s Rule 144 restricted common stock, par value $.0001 per share, valued at $.06 per share, or $150,000, which we expensed as of the effective date of the agreement. Mr. Turner is also entitled to certain additional stock grants based on our performance during the term of his employment and to participate in our benefit plans, when and if such plans become available.

Consulting Agreements

On September 7, 2018, Wildcat, a company controlled by Shareholder Marshall Gleason, filed suit against us alleging claims arising from the Gleason Agreement, seeking to recover monetary damages, interest, court costs, and attorney’s fees. In a separate lawsuit, Wildcat filed suit claiming that the Company breached that certain Promissory Note dated on or about November 13, 2017, entered into between Wildcat as lender and Greenway as borrower, and as a result Wildcat initiated an action in County Court at Law No. 2 of Tarrant County, Texas, Cause No. 2018-006416-2. On March 6, 2019, we entered into a Rule 11 Agreement with Gleason settling both disputes. Pursuant to the Rule 11 Agreement, the parties agreed to abate both cases until the earlier of a default of the performance of the Rule 11 Agreement or October 30, 2019, whichever be sooner. The Rule 11 Agreement provided that if we timely performed through October 15, 2019, the parties would file a joint motion for dismissal and present agreed orders of dismissal with prejudice for both lawsuits. The Company performed in all regards under the Rule 11 Agreement, however Gleason refused to sign the Wildcat Settlement Agreement at the point of the Company’s having performed its obligations. The parties’ respective counsels then mutually agreed to extend the original October 30, 2019 settlement date until at least the end of the year while the parties waited for Gleason’s signature. Gleason signed the Compromise Settlement and Release Agreement on February 4, 2020, and all litigation was dismissed by the Court on February 25, 2020. A copy of the Dismissal is incorporated by reference as Exhibit 10.59.

Paul Alfano, a director and greater than five percent (5%) shareholder entered into a consulting agreement with us on April 19, 2018 via Alfano Consulting Services (the “Alfano Agreement”), to provide board and senior management advice, including but not limited to corporate strategy, SEC regulatory adherence, sales and marketing strategies, document and presentation preparation and fund-raising support. Terms included payment of billable time at $40.00 per hour, plus approved expenses, retroactive to January 1, 2017. The Alfano Agreement was terminated when Mr. Alfano became a director on June 26, 2019. The Company has accrued Consulting Fees and Expenses of $118,705 for all prior periods through September 30, 2021. There is no payment schedule agreed to by the parties, and such accrued expenses will be paid only when the Company has sufficient liquidity to make such payment, or unless or until the parties agree to some other form of payment provision.

On October 19, 2020, the Company entered into a management consulting services agreement with Dean Goekel (the “Goekel Agreement” via “Analytical Professionals”), to manage engineering and vendor relationships, assist in defining the design and cost of certain capital equipment and to manage the direction of research, development and other related engineering activities. Mr. Goekel will also support the Company’s ongoing business operations, including assistance in commercialization and market implementation, strategic planning and other services. The agreed upon start date under the agreement is July 1, 2020 and the minimum engagement term was for six (6) months. After the initial term the agreement automatically renews for subsequent six (6) month terms unless the Company or Mr. Goekel terminates the agreement. Under the agreement, in exchange for Mr. Goekel’s services he will receive a minimum monthly fee of $10,000 per month in deferred compensation until such time that adequate funds are available for payment. As of September 30, 2021, we have accrued $150,000 in compensation expense related to this agreement. Additionally, under the agreement Mr. Goekel was issued stock warrants for 3,000,000 shares at a strike price of $0.03 per share effective July 1, 2020 and expiring on June 30, 2022. The Company recognized compensation expense related to these warrants of $25,137 for the year ended December 31, 2020. After meeting certain deliverables set forth in the agreement, Mr. Goekel will be issued stock warrants for 1,000,000 shares at a strike price that is an average of the stock price for the 90 days that the deliverables have been met.

Other

Pursuant to the GIE Acquisition Agreement in August 2012, we agreed to: (i) issue an additional 7,500,000 shares of Common Stock when the first portable GTL unit is built and becomes operational, and is capable of producing 2,000 barrels of diesel or jet fuel per day, and (ii) pay a 2% royalty on all gross production sales on each unit placed in production, or one percent (1%) each to the founders and previous owners of GIE. On February 6, 2018, and in connection with a settlement agreement dated April 5, 2018, by and between the Greer Family Trust and us, which is the successor in interest one of the founders and prior owners of GIE, F. Conrad Greer (“Greer”), (the “Trust”, and such settlement agreement the “Trust Settlement Agreement”), we issued 3,000,000 shares of Common Stock and a convertible promissory note for $150,000 to the Trust in exchange for: (i) a termination of the Trust’s right to receive 3,750,000 shares of Common Stock in the future and 1% of the royalties owed to the Trust under the GIE Acquisition Agreement; (ii) the termination of Greer’s then current employment agreement with GIE; and (iii) the Trust’s waiver of any future claims against us for any reason.

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As a result of the transactions consummated by the Trust Settlement Agreement, we are committed to issue a reduced number of 3,750,000 shares of Common Stock and 1% of the royalties due on production of our GTL operational units to Ray Wright, the other founder and prior owner of GIE, pursuant to the GIE Acquisition Agreement.

Mining Leases

We have a minimum commitment during 2021 of approximately $11,880 for our annual lease maintenance fees due to Bureau of Land Management (“BLM”) for the Arizona Property, such payment was made prior to the due date of September 1, 2021. There is no actual lease agreement with the BLM, but we file an annual maintenance fee form and pay fees to the BLM to hold our claims.

Financing

Related parties

Financing to date has been provided by loans, advances from Shareholders and Directors and issuances of our Common Stock in various private placements to accredited investors, related parties and institutions.

During the nine month period ended September 30, 2021, we received related party loans from the following directors under the Mabert Loan facility: $354,248 from Kevin Jones, $70,000 from Michael Wykrent and $5,000 from Kent Harer. See also Note 5 – Convertible Notes Payable and Notes Payable Related Parties herein above.

For the three months ended September 30, 2021 we received $142,936 in cash and payment advances from our director, Kevin Jones, a greater than 5% shareholder which has been accrued as “Advances – related parties” for the period.

For the year ended December 31, 2020, we received $393,702 in related party loans from Mabert, acting as agent for various lenders to the Company.

Third-party financing

On September 7, 2021, the Company issued 62,500 shares of Rule 144 restricted Common Stock, par value $.0001 per share pursuant to a private placement sale to one (1) accredited investor, for $2,500, or $0.04 per share.

On September 3, 2021, the Company issued 125,000 shares of Rule 144 restricted Common Stock, par value $.0001 per share pursuant to a private placement sale to one (1) accredited investor, for $5,000, or $0.04 per share.

On August 31, 2021, the Company issued 600,000 shares of Rule 144 restricted Common Stock, par value $.0001 per share pursuant to a private placement sale to one (1) accredited investor, for $30,000, or $0.05 per share.

On August 30, 2021, the Company issued 200,000 shares of Rule 144 restricted Common Stock, par value $.0001 per share pursuant to a private placement sale to one (1) accredited investor, for $10,000, or $0.05 per share.

On August 27, 2021, the Company issued 300,000 shares of Rule 144 restricted Common Stock, par value $.0001 per share pursuant to a private placement sale to three (3) accredited investors, for $15,000, or $0.05 per share.

On August 13, 2021, the Company issued 400,000 shares of Rule 144 restricted Common Stock, par value $.0001 per share pursuant to a private placement sale to one (1) accredited investor, for $20,000, or $0.05 per share.

On August 10, 2021, the Company issued 800,000 shares of Rule 144 restricted Common Stock, par value $.0001 per share pursuant to a private placement sale to two (2) accredited investors, for $40,000, or $0.05 per share.

On August 9, 2021, the Company issued 100,000 shares of Rule 144 restricted Common Stock, par value $.0001 per share pursuant to a private placement sale to one (1) accredited investor, for $5,000, or $0.05 per share.

On August 5, 2021, the Company issued 400,000 shares of Rule 144 restricted Common Stock, par value $.0001 per share pursuant to a private placement sale to two (2) accredited investors, for $20,000, or $0.05 per share.

On August 3, 2021, the Company issued 500,000 shares of Rule 144 restricted Common Stock, par value $.0001 per share pursuant to a private placement sale to one (1) accredited investor, for $25,000, or $0.05 per share.

On August 2, 2021, the Company issued 200,000 shares of Rule 144 restricted Common Stock, par value $.0001 per share pursuant to a private placement sale to one (1) accredited investor, for $10,000, or $0.05 per share.

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On June 22, 2021, the Company issued 382,500 shares of Rule 144 restricted Common Stock, par value $.0001 per share pursuant to a private placement sale to an accredited investor, in lieu of cash payment for consulting fees of $11,475, or $0.03 per share.

On June 3, 2021, the Company issued 2,000,000 shares of Rule 144 restricted Common Stock, par value $.0001 per share pursuant to a private placement sale to three (3) accredited investors, for $100,000, or $0.05 per share.

On May 7, 2021, the Company issued 100,000 shares of Rule 144 restricted Common Stock, par value $.0001 per share pursuant to a private placement sale to an accredited investor, in lieu of cash payment for consulting fees of $3,000, or $0.03 per share.

On May 6, 2021, the Company issued 166,667 shares of Rule 144 restricted Common Stock, par value $.0001 per share pursuant to a private placement sale to an accredited investor, for $5,000, or $0.03 per share.

On May 6, 2021, the Company issued 2,000,000 shares of Rule 144 restricted Common Stock, par value $.0001 per share pursuant to a private placement sale to an accredited investor, for $50,000, or $0.025 per share.

On May 6, 2021, the Company issued 600,000 shares of Rule 144 restricted Common Stock, par value $.0001 per share pursuant to a private placement sale to an accredited investor, for $18,000, or $0.03 per share.

On March 18, 2021, the Company issued 1,200,000 shares of Rule 144 restricted Common Stock, par value $.0001 per share pursuant to a private placement sale to an accredited investor, for $36,000, or $0.03 per share.

Impact of Inflation

While we are subject to general inflationary trends, including for basic manufacturing production materials, our management believes that inflation in and of itself does not have a material effect on our operating results. However, inflation may become a factor in the future. However, the COVID-19 virus and its current extraordinary impact on the world economy has reduced oil consumption globally, decreasing crude oil prices, to levels not seen since the early 1980’s. The economics of GTL conversion rely in part on the arbitrage between oil and natural gas prices, with economic models for many producers, including our own models, using a range of $30-60/bbl (for WTI or Brent Crude as listed daily on the Nymex and ICE commodities exchanges) to determine relative profitability of their GTL operations. While the COVID-19 virus may run its human course in the near term, we believe (as many others in the U.S. government and media believe), that the economic impacts will be long lasting and for all practical matters, remain largely unknown at this time.

Off-Balance Sheet Arrangements

During the year ended December 2019, we entered into a revenue interest research and development venture with Mabert and an employee, Tom Phillips, OPMGE. We account for our participation under the Equity Method, as further defined herein below, whereby we may be subject to future gains and losses that are reasonably likely to have an effect on our reported results of operations and liquidity. We are not required to invest, participate in any of the ongoing costs, financing or capital expenditures made by OPMGE. Since inception of this arrangement, we have advanced a total of $412,885 to OPMGE, and accordingly, had accrued a receivable from OPMGE. We have evaluated this receivable and have determine that collectability is uncertain. Accordingly, the Company has fully reserved the full amount of this equity method receivable with OPMGE as of September 30, 2021.

Critical Accounting Policies and Estimates

Our Financial Statements and accompanying notes are prepared in accordance with generally accepted accounting principles in the United States (“GAAP”). Preparing our Financial Statements requires management to make estimates and assumptions that impact the reported amounts of assets, liabilities, revenue, and expenses. These estimates and assumptions are affected by management’s application of accounting policies. Critical accounting policies include revenue recognition and impairment of long-lived assets.

We evaluate our long-lived assets for financial impairment on a regular basis in accordance with Statement of Financial Accounting Standards No. 144, “Accounting for the Impairment or Disposal of Long-Lived Assets,” which evaluates the recoverability of long-lived assets not held for sale by measuring the carrying amount of the assets against the estimated discounted future cash flows associated with them. At the time such evaluations indicate that the future discounted cash flows of certain long-lived assets are not sufficient to recover the carrying value of such assets, the assets are adjusted to their fair values.

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We believe that the critical accounting policies discussed below affect our more significant judgments and estimates used in the preparation of our financial statements.

Revenue Recognition

The Financial Accounting Standards Board (“FASB”) issued Accounting Standard 606 – Revenue from Contracts with Customers, as guidance on the recognition of revenue from contracts with customers in May 2014 with amendments in 2015 and 2016. Revenue recognition will depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance also requires disclosures regarding the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. The guidance permits two methods of adoption: retrospectively to each prior reporting period presented or retrospectively with the cumulative effect of initially applying the guidance recognized at the date of initial application (the cumulative catch-up transition method). We adopted the guidance on January 1, 2018 and applied the cumulative catch-up transition method. The transition adjustment to be recorded to stockholders’ deficit upon adoption of the new standard did not have a material effect upon the condensed unaudited consolidated financial statements. The Company has not, to date, generated any revenues.

Equity Method Investment

On August 29, 2019, we entered into a research and development venture, OPMGE, with Mabert and an employee, Tom Phillips. We contributed a limited license to use our proprietary and patented GTL technology and a working G-Reformer refractory unit, for no actual cost basis, in exchange for 300 membership units in OPMGE, equating to an approximately a 42.8% current interest in OPMGE, pending the expected issuance of an additional 300 membership units, equating to a net 30% ownership interest in OPMGE at that time. There was not previously and is no book or asset value attributed to the contributed technology. We evaluated our interest in OPMGE and determined that we do not control OPMGE. We account for our interest in OPMGE via the equity method of accounting. To our knowledge, at September 30, 2021, OPMGE had no material business activity as of such date. As described in “Note 9 – Related Party Transactions” herein above, we maintain a related party receivable from OPMGE related to advances made to assist in certain capital expenditures. As of September 30, 2021, the Company has fully reserved the full amount of this equity method receivable with OPMGE.

Stock-Based Compensation

Accounting Standard 718, “Compensation – Stock Compensation” (“ASC 718”) established financial accounting and reporting standards for share-based payments issued to employees and share-based payments issued to nonemployees for goods and services. It defines a fair value-based method of accounting for an employee stock option or similar equity instrument. We account for compensation cost for stock option plans and share-based payments to non-employees in accordance with ASC 718.

Use of Estimates

The preparation of our Financial Statements in conformity with GAAP 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 our Financial Statements and the reported amount of revenue and expenses during the reported period. Actual results could differ materially from the estimates.

Cash and Cash Equivalents

We consider all highly liquid investments purchased with an original maturity of 3-months or less to be cash equivalents. There were no cash equivalents at September 30, 2021, or December 31, 2020. Unless otherwise indicated, all references to “dollars” in this Form 10-Q are to U.S. dollars.

Income Taxes

We account for income taxes in accordance with FASB ASC 740, “Income Taxes,” which requires that we recognize deferred tax liabilities and assets based on the differences between the financial statement carrying amounts and the tax bases of assets and liabilities, using enacted tax rates in effect in the years the differences are expected to reverse. Deferred income tax benefit (expense) results from the change in net deferred tax assets or deferred tax liabilities. A valuation allowance is recorded when it is more likely than not that some or all deferred tax assets will not be realized.

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We have adopted the provisions of FASB ASC 740-10-05, Accounting for Uncertainty in Income Taxes (“ASC 750-10-05”). ASC 750-10-05 clarifies the accounting for uncertainty in income taxes recognized in an enterprise’s financial statements and prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. Additionally, ASC 750-10-05 provides guidance on de-recognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. Open tax years, subject to IRS examination include 2016 – 2020.

Net Loss per Share, Basic and Diluted

We have adopted Accounting Standards Codification Subtopic 260-10, Earnings per Share, specifying the computation, presentation and disclosure requirements of earning per share information. Basic loss per share has been computed by dividing net loss available to common shareholders by the weighted average number of common shares issued and outstanding for the period. Shares issuable upon the exercise of warrants (3,000,000), shares convertible for debt (2,083,333) and shares outstanding but not yet issued (823,500) have been excluded as a common stock equivalent in the diluted loss per share because their effect would be anti-dilutive as of September 30, 2021. Shares issuable upon the exercise of warrants (8,000,000), shares convertible for debt (3,616,539) and shares outstanding but not yet issued (356,186) have been excluded as a common stock equivalent in the diluted loss per share because their effect would be anti-dilutive as of September 30, 2020.

Derivative Financial Instruments

The Company accounts for derivative instruments in accordance with Accounting Standards Codification 815, Derivatives and Hedging (“ASC 815”), which establishes accounting and reporting standards for derivative instruments, including certain derivative instruments embedded in other contracts, and for hedging activities. ASC 815 requires that an entity recognize all derivatives as either assets or liabilities in the balance sheet and measure those instruments at fair value.

If certain conditions are met, a derivative may be specifically designated as a hedge, the objective of which is to match the timing of gain or loss recognition on the hedging derivative with the recognition of (i) the changes in the fair value of the hedged asset or liability that are attributable to the hedged risk or (ii) the earnings effect of the hedged forecasted transaction. For a derivative not designated as a hedging instrument, the gain or loss is recognized in income in the period of change.

Concentration and Credit Risk

Financial instruments and related items, which potentially subject us to concentrations of credit risk, consist primarily of cash, cash equivalents, and trade receivables. We place our cash and temporary cash investments with high -credit quality institutions. At times, such investments may be in excess of the Federal Deposit Insurance Corporation insurance limit.

Recently Issued Accounting Pronouncements

Management does not believe that any recently issued, but not yet effective accounting pronouncements, if adopted, would have a material effect on the accompanying condensed unaudited consolidated financial statements.

Item 3. Quantitative and Qualitative Disclosures about Market Risk.

As a smaller reporting company, as defined by Rule12b-2 of the Securities Exchange Act of 1934 and Item 10(f)(1) of Regulation S-K, we are not required to provide information requested by this item.

Item 4. Controls and Procedures.

The term disclosure controls and procedures means controls and other procedures of an issuer that are designed to ensure that information required to be disclosed by the issuer in the reports that it files or submits under the Exchange Act is recorded, processed, summarized and reported, within the time periods specified in the SEC’s rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed by an issuer in the reports that it files or submits under the Exchange Act is accumulated and communicated to the issuer’s management, including its principal executive and principal financial officers, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure.

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Our management is responsible for establishing and maintaining adequate internal control over financial reporting. Internal control over financial reporting is defined in Rule 13a-15(f) or 15d-15(f) promulgated under the Exchange Act as a process designed by, or under the supervision of, our principal executive officer and our principal financial officer and effected by our Board of Directors, management and other personnel, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with GAAP and includes those policies and procedures that:

● Pertain to the maintenance of records that in reasonable detail accurately and fairly reflect the transactions and dispositions of the assets of the issuer;

● Provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the issuer are being made only in accordance with authorizations of management and directors of the issuer; and

● Provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of the issuer’s assets that could have a material effect on the financial statements.

Our management, including our chief executive officer and chief financial officer, does not expect that our disclosure controls and procedures or our internal controls over financial reporting will prevent all error and all fraud. A control system, no matter how well conceived and operated, can provide only reasonable, not absolute, assurance that the objectives of the control system are met. Further, the design of a control system must reflect the fact that there are resource constraints, and the benefits of controls must be considered relative to their costs. Because of inherent limitations in all control systems, internal control over financial reporting may not prevent or detect misstatements, and no evaluation of controls can provide absolute assurance that all control issues and instances of fraud, if any, have been detected. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

In September 2021, we conducted an evaluation, under the supervision and with the participation of our principal executive officer and principal financial officer, of the effectiveness of internal control over financial reporting based on the framework in Internal Control—Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission. Management’s assessment included an evaluation of the design of our internal control over financial reporting and testing of the operational effectiveness of our internal control over financial reporting. Based on this evaluation, management has concluded that as of September 30, 2021, our internal control over financial reporting was ineffective.

We have identified at least the following deficiencies, which together constitute a material weakness in our assessment of the effectiveness of internal control over financial reporting as of September 30, 2021:

1. We have inadequate segregation of duties within our cash disbursement control design.

2. During the quarter ended September 30, 2021, we internally performed all aspects of our financial reporting process including, but not limited to, the underlying accounting records and record journal entries and internally maintained responsibility for the preparation of the financial statements. Due to the fact these duties were often performed by the same people, a lack of independent review process was created over the financial reporting process that might result in a failure to detect errors in spreadsheets, calculations, or assumptions used to compile the financial statements and related disclosures as filed with the SEC. These control deficiencies could result in a material misstatement to our interim or annual financial statements that would not be prevented or detected.

3. We do not have a sufficient number of independent or qualified directors for our Board of Directors and a qualified Audit Committee. We currently have only two (2) independent directors on our board, which is fully comprised of six directors, and accordingly we do not yet have a functioning audit committee, as the only otherwise qualified director is not independent. Further, as a publicly traded company, we should strive to have a majority of our board of directors be independent.

For the period ending September 30, 2021, Greenway internally performed all aspects of its financial reporting process, including, but not limited to the underlying accounting records and record journal entries and responsibility for the preparation of the financial statement due to the fact these duties were performed often times by the same people, a lack of review was created over the financial reporting process that might result in a failure to detect errors in spreadsheets, calculations, or assumptions used to compile the financial statements and related disclosures as filed with the SEC. These control deficiencies could result in a material misstatement to our interim or annual financial statements that would not be prevented or detected.

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We are continuing the process of remediating our control deficiencies. However, the material weakness in internal control over financial reporting that have been identified will not be remediated until numerous new internal controls are implemented and operate for a period of time, are tested, and we are able to conclude that such internal controls are operating effectively. We cannot provide assurance that these procedures will be successful in identifying material errors that may exist in our Financial Statements. We cannot make assurances that we will not identify additional material weaknesses in our internal control over financial reporting in the future. Our management plans, as capital becomes available to us, to increase the accounting and financial reporting staff and provide future investments in the continuing education and public company accounting training of our accounting and financial professionals.

It should be noted that any system of controls, however well designed and operated, can provide only reasonable, and not absolute, assurance that the objectives of the system are met. In addition, the design of any control system is based in part upon certain assumptions about the likelihood of future events. Because of these and other inherent limitations of control system, there can be no assurance that any design will succeed in achieving its stated goals under all potential future conditions, regardless of how remote.

This quarterly report does not include an attestation report of our registered public accounting firm regarding internal control over financial reporting. Management’s report was not subject to attestation by our registered public accounting firm pursuant to rules of the Securities and Exchange Commission that permit us to provide only management’s report in this quarterly report.

Management believes that the material weaknesses set forth above did not have a material effect on our financial results. However, the lack of a functioning audit committee and lack of a majority of independent directors on our board of directors resulting in potentially ineffective oversight in the establishment and monitoring of required internal controls and procedures, can impact our financial statements.

Changes in Internal Controls over Financial Reporting

There were no changes (including corrective actions with regard to significant deficiencies or material weaknesses) in our internal control over financial reporting that occurred during the quarter ended September 30, 2021, that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

PART II – OTHER INFORMATION

Item 1. Legal Proceedings.

On October 19, 2019 the Company was served with a lawsuit by Norman Reynolds, a previously engaged counsel by the Company. The suit was filed in Harris County District Court, Houston, Texas, asserting claims for unpaid fees of $90,378. The jurisdiction for the case was moved to Tarrant County District Count, Fort Worth, Texas. While fully reserved, Greenway vigorously disputes the total amount claimed. Greenway has asserted counterclaims based upon alleged conflicts of interest, breaches of fiduciary duty and violations of the Texas Deceptive Trade Practices Act (“DTPA”). During the fourth quarter of 2021, the two parties met for mediation but no conclusion was reached. Greenway is confident in its defenses and counterclaims and intends to vigorously defend its interests and prosecute its claims.

On September 7, 2021, the Company was served with a demand for mediation and potential arbitration by Gregory Sanders, a previous employee of the Company. The demand claims Mr. Sanders had an employment agreement with the Company entitling him to certain compensation payments under the contract. No conclusion was met during mediation which occurred in the fourth quarter of 2021. Greenway is confident in its defenses and counterclaims and intends to vigorously defend its interests and prosecute its claims.

There are no other active material legal matters as of the date of this report. See also Note 10 - Commitments and Contingencies – Legal Matters herein above to the unaudited condensed consolidated financial statements included elsewhere in this report and incorporated herein by reference.

Item 1A. Risk Factors

Information regarding risk factors appears in the Form 10-K Part I, Item 1A, Risk Factors. There have been no material changes from the risk factors previously disclosed in our Form 10-K for the year ended December 31, 2020.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.

During the three-months ended September 30, 2021, the Company: issued 3,911,628 shares of Rule 144 restricted Common Stock, including 3,687,500 shares issued in private placement to fifteen (15) accredited investors at an average price of $0.05 per share for $182,500, and 224,128 shares for costs related to the issuance of promissory notes at an average price of $0.03 per share. As of September 30, 2021, the Company has 198,500 shares of common stock to be issued to Kevin Jones, a related party, for costs related to issuance of promissory notes, and 625,000 shares of common stock to be issued in private placement to one (1) accredited investor, these shares will be issued in the fourth quarter of 2021.

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During the three-month period ended June 30, 2021, we: issued 6,222,797 shares of Rule 144 restricted Common Stock, including 4,766,667 shares issued in private placement to five (5) accredited investors at an average price of $0.04 per share for $173,000, and 482,500 shares issued for payment of consulting fees at a price of $0.03 per share, and 973,630 shares for costs related to the issuance of promissory notes at an average price of $0.05 per share.

During the three-month period ended March 31, 2021, we issued a total of 1,200,000 through a private sale to an accredited investor.

Our unregistered securities were issued in reliance upon an exemption from registration pursuant to Section 4(a)(2) of the Securities Act or Rule 506(3) of Regulation D promulgated under the Securities Act. Each investor took his/her securities for investment purposes without a view to distribution and had access to information concerning us and our business prospects, as required by the Securities Act. In addition, there was no general solicitation or advertising for the purchase of our securities. Our securities were sold only to accredited investors and current shareholders as defined in the Securities Act with whom we had a direct personal, preexisting relationship, and after a thorough discussion. Each certificate contained a restrictive legend as required by the Securities Act. Finally, our stock transfer agent has been instructed not to transfer any of such securities, unless such securities are registered for resale or there is an exemption with respect to their transfer.

All of the above described investors who received shares of our common stock were provided with access to our filings with the SEC, including the following:

● The information contained in our annual report on Form 10-K under the Exchange Act.

● The information contained in any reports or documents required to be filed by Greenway Technologies under sections 13(a), 14(a), 14(c), and 15(d) of the Exchange Act since the distribution or filing of the reports specified above.

● A brief description of the securities being offered, and any material changes in our affairs that were not disclosed in the documents furnished.

Our transfer agent is: Transfer Online, Inc., whose address is 512 SE Salmon Street, Portland, Oregon 97214, 2nd Floor, telephone number (503) 227-2950.

Purchases of Equity Securities by the Issuer and Affiliated Purchasers

None.

Item 3. Defaults Upon Senior Securities.

On December 20, 2017, the Company issued a convertible promissory note for $166,667, fully payable by December 20, 2019. This loan is in default for breach of payment. By its terms, the cash interest payable increased to 18% per annum on December 20, 2018 and continues at such rate until the default is cured or is paid at term. See Note 6 – Notes Payable and Convertible Notes Payable.

On September 26, 2019, the Company entered into a Settlement Agreement with Southwest Capital Funding Ltd., as part of the consideration for an agreed stipulated judgement, we agreed to provide Southwest a Promissory Note in the amount of $525,000, providing for a three-year term, at 7.7% simple interest only, payable semi-annually, with interest due calculated on a 365-day year, default interest at 18%, with the principal amount due at maturity. Since the note was issued, two semiannual payments of interest have been paid. The Company was in default of its semiannual interest payment due on February 15, 2021. In May 2021, the Company made the semi-annual interest payment (including late fees) and cured the default. See Note 6 – Notes Payable and Convertible Notes Payable.

Item 4. Mine Safety Disclosures.

Not applicable.

Item 5. Other Information.

None.

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Item 6. Exhibits.

Exhibit No.	Identification of Exhibit
2.1**	Combination Agreement executed as of August 18, 2009, between Dynalyst Manufacturing Corporation and Universal Media Corporation, filed as Exhibit 10.2 to the registrant’s registration statement on Form 10-12G on August 29, 2013, Commission File Number 000-55030.
3.1**	Articles of Incorporation of Dynalyst Manufacturing Corporation filed with the Secretary of State of Texas on March 13, 2002, filed as Exhibit 3.1 to the registrant’s registration statement on Form 10-12G on August 29, 2013, Commission File Number 000-55030.
3.2**	Articles of Amendment of Articles of Incorporation of Dynalyst Manufacturing Corporation filed with the Secretary of State of Texas on June 7, 2006, filed as Exhibit 3.2 to the registrant’s registration statement on Form 10-12G on August 29, 2013, Commission File Number 000-55030.
3.3**	Articles of Amendment of Articles of Incorporation of Dynalyst Manufacturing Corporation filed with the Secretary of State of Texas on August 28, 2009, changing the corporate name to Universal Media Corporation, filed as Exhibit 3.3 to the registrant’s registration statement on Form 10-12G on August 29, 2013, Commission File Number 000-55030.
3.4**	Articles of Amendment of Articles of Incorporation of Universal Media Corporation filed with the Secretary of State of Texas on March 23, 2011, changing the corporate name to UMED Holdings, Inc., filed as Exhibit 3.4 to the registrant’s registration statement on Form 10-12G on August 29, 2013, Commission File Number 000-55030.
3.5**	Articles of Amendment of Certificate of Formation of UMED Holdings, Inc. filed with the Secretary of State of Texas on June 23, 2017, changing the corporate name to Greenway Technologies, Inc., filed as Exhibit 3.1 to the registrant’s Form 8-K/A on July 20, 2017, Commission File Number 000-55030.
3.6**	Bylaws of Dynalyst Manufacturing Corporation, filed as Exhibit 3.5 to the registrant’s registration statement on Form 10-12G on August 29, 2013, Commission File Number 000-55030.
3.7**	Articles of Incorporation of Greenway Innovative Energy, Inc. filed with the Secretary of State of Nevada on July 6, 2012, filed as Exhibit 3.7 to the registrant’s Form 10-Q/A, amendment No. 1, on September 21, 2017, Commission File Number 000-55030.
3.8**	Bylaws of Greenway Innovative Energy, Inc., filed as Exhibit 3.8 to the registrant’s Form 10-Q/A, amendment No. 1, on September 21, 2017, Commission File Number 000-55030.
3.9**	Certificate of Amendment to the Articles of Incorporation approved by the Shareholders at the Special Shareholders Meeting on December 11, 2019
10.2**	Purchase Agreement dated as of May 1, 2012, between Universal Media Corporation and Mamaki Tea & Extract, Inc., filed as Exhibit 10.3 to the registrant’s registration statement on Form 10-12G on August 29, 2013, Commission File Number 000-55030.
10.3**	Addendum and Modification to Purchase Agreement dated as of December 31, 2012, between Universal Media Corporation and Mamaki of Hawaii, Inc. formerly Mamaki Tea & Extract, Inc., filed as Exhibit 10.4 to the registrant’s registration statement on Form 10-12G on August 29, 2013, Commission File Number 000-55030.
10.4**	Second Addendum and Modification to Purchase Agreement dated as of December 31, 2012, between Universal Media Corporation and Mamaki of Hawaii, Inc. formerly Mamaki Tea & Extract, Inc., filed as Exhibit 10.5 to the registrant’s registration statement on Form 10-12G on August 29, 2013, Commission File Number 000-55030.
10.5**	Purchase Agreement dated August 29th, 2012, between Universal Media Corporation and Greenway Innovative Energy, Inc., filed as Exhibit 10.6 to the registrant’s registration statement on Form 10-12G on August 29, 2013, Commission File Number 000-55030.
10.6**	Purchase Agreement dated as of February 23, 2012, between Rig Support Services, Inc. and UMED Holdings, Inc., filed as Exhibit 10.7 to the registrant’s registration statement on Form 10-12G on August 29, 2013, Commission File Number 000-55030.
10.7**	Asset Purchase Agreement dated as of October 2, 2011, between Jet Regulators, L.C., R/T Jet Tech, L.P. and UMED Holdings, Inc., filed as Exhibit 10.8 to the registrant’s registration statement on Form 10-12G on August 29, 2013, Commission File Number 000-55030.
10.8**	Employee Agreement dated May 27, 2011, between UMED Holdings, Inc. and Kevin Bentley, filed as Exhibit 10.9 to the registrant’s registration statement on Form 10-12G on August 29, 2013, Commission File Number 000-55030.
10.9**	Employee Agreement dated May 27, 2011, between UMED Holdings, Inc. Randy Moseley, filed as Exhibit 10.10 to the registrant’s registration statement on Form 10-12G on August 29, 2013, Commission File Number 000-55030.
10.10**	Employee Agreement dated May 27, 2011, between UMED Holdings, Inc. and Richard Halden, filed as Exhibit 10.11 to the registrant’s registration statement on Form 10-12G on August 29, 2013, Commission File Number 000-55030.
10.11**	Employee Agreement dated August 29, 2012, between UMED Holdings, Inc. and Raymond Wright, filed as Exhibit 10.12 to the registrant’s registration statement on Form 10-12G on August 29, 2013, Commission File Number 000-55030.

32

10.12**	Employee Agreement dated August 29, 2012, between UMED Holdings, Inc. and Conrad Greer, filed as Exhibit 10.13 to the registrant’s registration statement on Form 10-12G on August 29, 2013, Commission File Number 000-55030.
10.13**	Consulting Agreement dated May 27, 2011, between UMED Holdings, Inc. and Jabez Capital Group, LLC, filed as Exhibit 10.14 to the registrant’s registration statement on Form 10-12G on August 29, 2013, Commission File Number 000-55030.
10.14**	Promissory Note in the amount of $850,000 dated August 17, 2012, executed by Mamaki Tea, Inc. payable to Southwest Capital Funding, Ltd., filed as Exhibit 10.15 to the registrant’s registration statement on Form 10-12G on August 29, 2013, Commission File Number 000-55030.
10.15**	Modification of Note and Liens effective as of October 1, 2012, between Southwest Capital Funding, Ltd. and Mamaki Tea, Inc., filed as Exhibit 10.16 to the registrant’s registration statement on Form 10-12G on August 29, 2013, Commission File Number 000-55030.
10.16**	Second Modification of Note and Liens effective as of December 20, 2012, between Southwest Capital Funding, Ltd., Mamaki Tea, Inc., and Mamaki of Hawaii, Inc., filed as Exhibit 10.17 to the registrant’s registration statement on Form 10-12G on August 29, 2013, Commission File Number 000-55030.
10.17**	Promissory Note in the amount of $150,000 dated August 17, 2012, executed by Mamaki Tea, Inc. payable to Robert R. Romer, filed as Exhibit 10.18 to the registrant’s registration statement on Form 10-12G on August 29, 2013, Commission File Number 000-55030.
10.18**	Addendum and Modification to Purchase Agreement dated as of December 31, 2012, between Rig Support Services, Inc. and UMED Holdings, Inc., filed as Exhibit 10.19 to the registrant’s registration statement on Form 10-12G on August 29, 2013, Commission File Number 000-55030.
10.20**	Promissory Note in the amount of $158,000 dated September 18, 2014, executed by UMED Holdings, Inc. payable to Tonaquint, Inc., filed as Exhibit 10.20 to the registrant’s Form 10-Q/A, amendment No. 1, on September 21, 2017, Commission File Number 000-55030.
10.21**	Warrant dated September 18, 2014, for $47,400 worth of UMED Holdings, Inc. shares issued to Tonaquint, Inc., filed as Exhibit 10.21 to the registrant’s Form 10-Q/A, amendment No. 1, on September 21, 2017, Commission File Number 000-55030.
10.22**	Office Lease Agreement dated October 2015, between UMED Holdings, Inc. and The Atrium Remains the Same, LLC, filed as Exhibit 10.22 to the registrant’s Form 10-Q/A, amendment No. 1, on September 21, 2017, Commission File Number 000-55030.
10.23**	Warrant dated October 31, 2015, for 4,000,000 shares issued to Norman T. Reynolds, Esq, filed as Exhibit 10.23 to the registrant’s Form 10-Q/A, amendment No. 1, on September 21, 2017, Commission File Number 000-55030.
10.24**	Promissory Note in the amount of $36,000 dated March 8, 2016, executed by UMED Holdings, Inc. payable to Peter C. Wilson, filed as Exhibit 10.24 to the registrant’s Form 10-Q/A, amendment No. 1, on September 21, 2017, Commission File Number 000-55030.
10.25**	Convertible Promissory Note in the amount of $224,000 dated May 4, 2016, executed by UMED Holdings, Inc. payable to Tonaquint, Inc., filed as Exhibit 10.25 to the registrant’s Form 10-Q/A, amendment No. 1, on September 21, 2017, Commission File Number 000-55030.
10.26**	Severance and Release Agreement by and between UMED Holdings, Inc. and Randy Moseley dated November 11, 2016, filed as Exhibit 10.26 to the registrant’s Form 10-Q/A, amendment No. 1, on September 21, 2017, Commission File Number 000-55030.
10.27**	Settlement and Mutual Release Agreement dated January 13, 2017, executed by UMED Holdings, Inc. in connection with Cause No. DC-16-004718, in the 193rd District Court, Dallas County, Texas against Mamaki of Hawaii, Inc., Hawaiian Beverages, Inc., Curtis Borman, and Lee Jenison, filed as Exhibit 10.27 to the registrant’s Form 10-Q/A, amendment No. 1, on September 21, 2017, Commission File Number 000-55030.
10.28**	Warrant dated February 1, 2017, for 2,000,000 shares issued to Richard J. Halden, filed as Exhibit 10.28 to the registrant’s Form 10-Q/A, amendment No. 1, on September 21, 2017, Commission File Number 000-55030.
10.29**	Warrant dated February 1, 2017, for 4,000,000 shares issued to Richard J. Halden, filed as Exhibit 10.29 to the registrant’s Form 10-Q/A, amendment No. 1, on September 21, 2017, Commission File Number 000-55030.
10.30**	Severance and Release Agreement by and between UMED Holdings, Inc. and Richard Halden dated February 1, 2017, filed as Exhibit 10.30 to the registrant’s Form 10-Q/A, amendment No. 1, on September 21, 2017, Commission File Number 000-55030.
10.31**	Assignment Agreement dated December 27, 2010, between Melek Mining, Inc., 4HM Partners, LLC, and UMED Holdings, Inc., filed as Exhibit 10.31 to the registrant’s Form 10-Q/A, amendment No. 1, on September 21, 2017, Commission File Number 000-55030.
10.32**	Consulting Agreement by and between the registrant and Chisos Equity Consultants, LLC, as amended on February 16, 2018, and March 19, 2018, filed as Exhibit 10.1 to the registrant’s Form 8-K, on March 21, 2018, Commission File Number 000-55030.
10.33**	Promissory Note in the amount of $100,000 dated November 13, 2017, executed by Greenway Technologies, Inc. payable to Wildcat Consulting Group LLC.
10.34**	Subordinated Convertible Promissory Note in the amount of $166,667 dated December 20, 2017, executed by Greenway Technologies, Inc. payable to Tunstall Canyon Group LLC.

33

10.35**	Warrant dated November 30, 2017 for 1,000,000 shares issued to MTG Holdings, LTD.
10.36**	Greer Family Trust Promissory Note and Settlement. filed at Exhibit 10.34 to the registrant’s Form 10K on April 5, 2018, Commission File Number 000-55030.
10.37**	Warrant dated January 8, 2018 for 4,000,000 shares issued to Kent Harer.
10.38**	Settlement agreement by and between Greenway Technologies, Inc. and Tonaquint, Inc. dated April 9, 2018.
10.39**	Employment agreement with John Olynick, as President, dated May 10, 2018.
10.40**	Employment agreement with Ransom Jones, as Chief Financial Officer, Secretary and Treasurer, dated May 10, 2018.
10.41**	Consulting Agreement with Gary L. Ragsdale, Ph.D., P.E.
10.42**	Consulting Agreement with John Olynick
10.43**	Consulting Agreement with Marl Zoellers
10.44**	Consulting Agreement with Paul Alfano dba Alfano Consulting Services
10.45**	Consulting Agreement with Peter Hauser
10.46**	Consulting Agreement with William Campbell
10.47**	Consulting Agreement with Ryan Turner
10.48**	Amendment on July 30, 2014 to that certain Employment Agreement with Raymond Wright dated August 29, 2012
10.49**	Mabert LLC as Agent Loan Agreement dated September 14, 2018
10.50**	Mabert LLC as Agent Security Agreement dated September 14, 2018
10.51**	Texas UCC-1 filed by Mabert LLC as Agent on October 11, 2018, ending October 10, 2023.
10.52**	Rule 11 Agreement, dated March 6, 2019, pursuant to a mutual settlement of all claims by Wildcat Consulting, LLC for the matters in Cause No. 2018-005801 and Cause No. 2018-006416-2, filed in the County Courts at Law in Tarrant County, TX on Sept 7, and September 27, 2018 respectively.
10.53**	Employment agreement with Thomas Phillips, as Vice President of Operations, effective date April 1, 2019.
10.54**	Settlement Agreement executed on September 26, 2019 with Southwest Capital Funding, Ltd. to resolve all conflicts related to loan guarantees provided for Mamaki of Hawaii, Inc., Hawaiian Beverages, Inc., Curtis Borman, and Lee Jenison.
10.55**	Limited Liability Company Agreement of OPM Green Energy, LLC, dated August 23, 2019, by and among Greenway Technologies, Inc., a Texas corporation, Mabert, LLC, a Texas limited liability company, Tom Phillips, an individual, and OPM Green Energy, LLC, a Texas corporation.
10.56**	Subscription Agreement dated August 23, 2019, by and between Greenway Technologies, Inc., a Texas corporation, and OPM Green Energy, LLC, a Texas limited liability company.
10.57**	Intellectual Property License dated August 23, 2019, by and between Greenway Technologies, Inc., a Texas corporation, and OPM Green Energy, LLC, a Texas limited liability company.
10.58**	Employment agreement with Ryan Turner for Business Development and Investor Relations, dated April 1, 2019.
10.59**	Agreed Order of Dismissal with Prejudice, dated February 25, 2020, pursuant to the mutual settlement of all claims by Wildcat Consulting, LLC for the matters in Cause No. 2018-005801 and Cause No. 2018-006416-2, filed in the County Courts at Law in Tarrant County, TX on Sept 7, and September 27, 2018 respectively.
10.60**	Agreed Order of Dismissal without Prejudice, dated November 19, 2019, pursuant to the mutual settlement of all claims by Chisos Equity Consultants, LLC for the matters in Cause No. 67-306723-19, filed in the County Courts at Law in Tarrant County, TX on March 13, 2019.
10.61**	Agreed Order of Dismissal without Prejudice, dated November 19, 2019, pursuant to the mutual settlement of all claims by Richard Halden for the matters in Cause No. 352-306721-19, filed in the County Courts at Law in Tarrant County, TX on March 13, 2019.
10.62**	Agreed Order of Dismissal without Prejudice, dated November 26, 2019, pursuant to the mutual settlement of all claims by Greenway Technologies, Inc. against Micheal R. Warner et al (the “Dissident Shareholders”) for the matters in Cause No. DC-19-04207, filed in the District Court in Dallas County, TX on March 26, 2019.
10.63**	Securities Purchase Agreement by and between Greenway Technologies, Inc. and PowerUp Lending Group, Ltd, pursuant to that certain Convertible Promissory Note executed on January 24, 2020.
10.64**	Convertible Promissory Note by and between Greenway Technologies, Inc. and PowerUp Lending Group, Ltd., pursuant to that certain Securities Purchase Agreement executed on January 24, 2020.
10.65**	Securities Purchase Agreement by and between Greenway Technologies, Inc. and PowerUp Lending Group, Ltd., pursuant to that certain Convertible Promissory Note executed on February 12, 2020.
10.66**	Convertible Promissory Note by and between Greenway Technologies, Inc. and PowerUp Lending Group, Ltd., pursuant to that certain Securities Purchase Agreement executed on February 12, 2020.
14.1**	Code of Ethics for Senior Financial Officers, filed as Exhibit 10.1 to the registrant’s registration statement on Form 10-12G on August 29, 2013, Commission File Number 000-55030.
31.1*	Certification of Kent Harer, President of Greenway Technologies, Inc., pursuant to 18 U.S.C. §1350, as adopted pursuant to §302 of the Sarbanes-Oxley Act of 2002.
31.2*	Certification of Ransom Jones, Chief Financial Officer and Principal Accounting Officer of Greenway Technologies, Inc., pursuant to 18 U.S.C. §1350, as adopted pursuant to §302 of the Sarbanes-Oxley Act of 2002.
32.1*	Certification of Kent Harer, President of Greenway Technologies, Inc., pursuant to 18 U.S.C. §1350, as adopted pursuant to §906 of the Sarbanes-Oxley Act of 2002.
32.2*	Certification of Ransom Jones, Chief Financial Officer and Principal Accounting Officer of Greenway Technologies, Inc., pursuant to 18 U.S.C. §1350, as adopted pursuant to §906 of the Sarbanes-Oxley Act of 2002.

* Filed herewith.

** Previously filed.

34

SIGNATURES

In accordance with Section 13 or 15(d) of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	GREENWAY TECHNOLOGIES, INC.
Date: November 15, 2021
	By	/s/ Kent Harer
		Kent Harer, President
	By	/s/ Ransom Jones
		Ransom Jones, Chief Financial Officer and Principal Accounting Officer

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, this report has been signed by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

35

EX-31.1

Exhibit 31.1

CERTIFICATION OF CHIEF EXECUTIVE OFFICER
AS ADOPTED PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Kent Harer, certify that:

1. I have reviewed this Form 10-Q of Greenway Technologies, Inc.;

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 this 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 present 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 13-a-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 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 involved management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: November 15, 2021
	/s/ Kent Harer
	Kent Harer, President

EX-31.2

Exhibit 31.2

CERTIFICATION OF CHIEF FINANCIAL OFFICER
AS ADOPTED PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Ransom Jones, certify that:

1. I have reviewed this Form 10-Q of Greenway Technologies, Inc.;

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 this 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 present 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 13-a-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 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 involved management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: November 15, 2021

/s/ Ransom Jones

Ransom Jones, Chief Financial Officer and Principal Accounting Officer

EX-32.1

Exhibit 32.1

CERTIFICATION OF CHIEF EXECUTIVE 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 accompanying Quarterly Report on Form 10-Q of Greenway Technologies, Inc. for the quarter ending September 30, 2021, I, Kent Harer, President and chief executive of Greenway Technologies, Inc., hereby certify pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, to the best of my knowledge and belief, that:

1. Such Quarterly Report on Form 10-Q for the quarter ending September 30, 2021, 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 such Quarterly Report on Form 10-Q for the quarter ending September 30, 2021, fairly presents, in all material respects, the financial condition and results of operations of Greenway Technologies, Inc.

Date: November 15, 2021

/s/ Kent Harer

Kent Harer, President

EX-32.2

Exhibit 32.2

CERTIFICATION OF CHIEF 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 accompanying Quarterly Report on Form 10-Q of Greenway Technologies, Inc. for the quarter ending September 30, 2021, I, Ransom Jones, Chief Financial Officer of Greenway Technologies, Inc., hereby certify pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, to the best of my knowledge and belief, that:

1. Such Quarterly Report on Form 10-Q for the quarter ending September 30, 2021, 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 such Quarterly Report on Form 10-Q for the quarter ending September 30, 2021, fairly presents, in all material respects, the financial condition and results of operations of Greenway Technologies, Inc.

Date: November 15, 2021

/s/ Ransom Jones

Ransom Jones

Chief Financial Officer and Principal Accounting

XML

Cover - shares	9 Months Ended
	Sep. 30, 2021	Nov. 15, 2021
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Sep. 30, 2021
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2021
Current Fiscal Year End Date	--12-31
Entity File Number	000-55030
Entity Registrant Name	GREENWAY TECHNOLOGIES, INC.
Entity Central Index Key	0001572386
Entity Tax Identification Number	90-0893594
Entity Incorporation, State or Country Code	TX
Entity Address, Address Line One	1521 North Cooper Street
Entity Address, Address Line Two	Suite 205
Entity Address, City or Town	Arlington
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	76011
City Area Code	800
Local Phone Number	289-2515
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		348,894,167

XML

Condensed Consolidated Balance Sheets - USD ($)	Sep. 30, 2021	Dec. 31, 2020
Current Assets
Cash	$ 37,516	$ 1,628
Prepaid Expenses	140	11,235
Total Current Assets	37,656	12,863
Total Assets	37,656	12,863
Current Liabilities
Accounts payable	716,602	805,237
Advances - related parties	142,936	142,934
Accrued severance expense	1,301,964	1,301,964
Accrued expenses	1,069,296	860,368
Accrued expenses - related parties	2,006,902	1,797,818
Accrued interest payable (includes related parties interest of $911,062 and $562,890 respectively)	1,011,046	650,480
Notes payable and convertible notes payable	846,667	886,667
Notes payable - related parties (Net of debt discount of $16,439 and $13,153 respectively)	2,737,566	2,411,605
Total Current Liabilities	9,832,979	8,857,073
Total Liabilities	9,832,979	8,857,073
Commitments and contingencies (Note 10)
Stockholders’ Deficit
Common stock 500,000,000 shares authorized, par value $0.0001, 346,602,500 and 335,268,075 outstanding at September 30, 2021 and December 31, 2020, respectively	34,660	33,527
Additional paid-in capital	24,583,753	24,123,925
Common stock to be issued	37,189	36,384
Subscription receivable - warrants	(16,245)	(16,245)
Accumulated deficit	(34,434,680)	(33,021,801)
Total Stockholders’ Deficit	(9,795,323)	(8,844,210)
Total Liabilities & Stockholder’s Deficit	$ 37,656	$ 12,863

XML

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($)	Sep. 30, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Accrued Related Party Interest	$ 911,062	$ 562,890
Debt discount	$ 16,439	$ 13,153
Common stock, shares authorized	500,000,000	500,000,000
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares outstanding	346,602,500	335,268,075

XML

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Income Statement [Abstract]
Revenues
Expenses
General and administrative	277,285	312,444	845,384	890,946
Research and development	48,000		126,000
Total Expense	325,285	312,444	971,384	890,946
Operating loss	(325,285)	(312,444)	(971,384)	(890,946)
Other income (expenses)
Gain/(loss) on change in fair value of derivative		(14,741)		53,023
Interest expense	(149,360)	(192,391)	(441,495)	(564,668)
Gain on settlement of accounts payable				809
Gain/(loss) on debt settlement		28,916		28,916
Reserve for equity method investment receivable		(412,885)		(412,885)
Convertible debt derivative expense				(33,978)
Total other income / (expense)	(149,360)	(591,101)	(441,495)	(928,783)
Loss before income taxes	(474,645)	(903,545)	(1,412,879)	(1,819,729)
Provision for income taxes
Net loss	$ (474,645)	$ (903,545)	$ (1,412,879)	$ (1,819,729)
Net loss per share
Basic and diluted net loss per share	$ (0.00)	$ (0.00)	$ (0.00)	$ (0.01)
Weighted average shares outstanding
Basic and diluted	344,700,161	312,676,102	340,789,074	309,479,888

XML

Condensed Consolidated Statements of Changes in Stockholder's Deficit (Unaudited) - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Common Stock to be Issued [Member]	Subscription Receivable [Member]	Retained Earnings [Member]	Total
Beginning balance, value at Dec. 31, 2019	$ 30,153	$ 22,710,632	$ 857,227	$ (7,668)	$ (30,479,829)	$ (6,889,485)
Shares issued for cashless Warrant conversions	$ 86	8,491		(8,577)
Shares issued for cashless Warrant conversions, shares	857,737
Shares issued for loan conversion	$ 391	311,984	(312,375)
Shares issued for loan conversion, shares	3,906,610
Shares issued for promissory note fees shares, shsres	1,460,260
Shares issued for stock-based compensation	$ 700	419,300	(420,000)
Shares issued for stock-based compensation, shares	7,000,000
Shares issued for Private Placement	$ 60	59,940				60,000
Shares issued for private plecement, shares	600,000
Shares to be issued for settlement of accrued legal expenses			31,603			31,603
Net loss					(562,749)	(562,749)
Shares to be issued for promissory note fees	146	124,706	(124,852)
Ending balance, value at Mar. 31, 2020	$ 31,536	23,635,053	42,504	(16,245)	(31,042,578)	(7,349,730)
Balance, shares at Mar. 31, 2020	310,473,284
Shares to be issued for Promissory Note Fees			10,901			10,901
Beginning balance, value at Dec. 31, 2019	30,153	22,710,632	857,227	(7,668)	(30,479,829)	(6,889,485)
Net loss						(1,819,729)
Shares to be issued for promissory note fees						24,093
Ending balance, value at Sep. 30, 2020	$ 32,109	23,799,320	24,093	(16,245)	(32,299,557)	(8,460,280)
Balance, shares at Sep. 30, 2020	316,201,763
Beginning balance, value at Mar. 31, 2020	$ 31,536	23,635,053	42,504	(16,245)	(31,042,578)	$ (7,349,730)
Balance, shares at Mar. 31, 2020	310,473,284
Shares issued for loan conversion, shares						529,711
Shares issued for Private Placement	$ 37	14,963				$ 15,000
Shares issued for private plecement, shares	375,000
Shares to be issued for settlement of accrued legal expenses	$ 53	31,550	(31,603)
Shares to be issued for settlement of accured legal expenses, shares	529,711
Net loss					(353,434)	(353,434)
Ending balance, value at Jun. 30, 2020	$ 31,626	23,681,566	10,901	(16,245)	(31,396,012)	(7,688,164)
Balance, shares at Jun. 30, 2020	311,377,995
Shares issued for loan conversion	$ 483	117,754				118,237
Shares issued for loan conversion, shares	4,823,768
Net loss					(903,545)	(903,545)
Shares to be issued for promissory note fees			13,192			13,192
Ending balance, value at Sep. 30, 2020	$ 32,109	23,799,320	24,093	(16,245)	(32,299,557)	(8,460,280)
Balance, shares at Sep. 30, 2020	316,201,763
Beginning balance, value at Dec. 31, 2020	$ 33,527	24,123,925	36,384	(16,245)	(33,021,801)	(8,844,210)
Balance, shares at Dec. 31, 2020	335,268,075
Shares to be issued for promissory note fees			8,014			8,014
Shares to be issued for consulting fees			3,000			3,000
Shares issued for Private Placement	$ 120	35,880				36,000
Shares issued for private plecement, shares	1,200,000
Net loss					(464,606)	(464,606)
Ending balance, value at Mar. 31, 2021	$ 33,647	24,159,805	47,398	(16,245)	(33,486,407)	(9,261,802)
Balance, shares at Mar. 31, 2021	336,468,075
Beginning balance, value at Dec. 31, 2020	$ 33,527	24,123,925	36,384	(16,245)	(33,021,801)	(8,844,210)
Balance, shares at Dec. 31, 2020	335,268,075
Net loss						(1,412,879)
Shares to be issued for promissory note fees						54,986
Ending balance, value at Sep. 30, 2021	$ 34,660	24,583,753	37,189	(16,245)	(34,434,680)	(9,795,323)
Balance, shares at Sep. 30, 2021	346,602,500
Beginning balance, value at Mar. 31, 2021	$ 33,647	24,159,805	47,398	(16,245)	(33,486,407)	(9,261,802)
Balance, shares at Mar. 31, 2021	336,468,075
Shares to be issued for promissory note fees	$ 97	48,546	(44,398)			4,245
Shares issued for consulting fees	$ 48	14,427	(3,000)			11,475
Shares issued for promissory note fees, shares	482,500
Shares issued for promissory note fees shares, shsres	973,630
Shares issued for Private Placement			10,000			10,000
Shares issued for private plecement, shares	4,766,667
Net loss					(473,628)	(473,628)
Shares to be issued for promissory note fees			6,343			6,343
Shares issued for private placement	477	172,523				173,000
Ending balance, value at Jun. 30, 2021	$ 34,269	24,395,301	16,343	(16,245)	(33,960,035)	(9,530,367)
Balance, shares at Jun. 30, 2021	342,690,872
Shares to be issued for promissory note fees			12,189			12,189
Shares issued for promissory note fees shares, shsres	224,128
Shares issued for Private Placement	$ 369	182,131	(10,000)			172,500
Shares issued for private plecement, shares	3,687,500
Net loss					(474,645)	(474,645)
Shares to be issued for promissory note fees	22	6,321	(6,343)
Shares to be issued for private placement			25,000			25,000
Ending balance, value at Sep. 30, 2021	$ 34,660	$ 24,583,753	$ 37,189	$ (16,245)	$ (34,434,680)	$ (9,795,323)
Balance, shares at Sep. 30, 2021	346,602,500

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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Cash Flows from Operating Activities:
Net loss	$ (1,412,879)	$ (1,819,729)
Adjustments to reconcile net loss to net cash used in operating activities:
Change in fair value of derivatives		(53,023)
Amortization of debt discount	27,505	195,874
Derivative expense		33,978
Share based consulting fees	14,475
Debt settlement		(28,916)
Gain on settlement of accounts payable		(809)
Reserve for equity method investment receivable		412,885
Changes in operating assets and liabilities:
Prepaid expenses	11,095	(609)
Accrued expenses	221,322
Accrued expenses - related parties	557,256	596,767
Accounts payable	(88,635)	114,949
Net Cash Used in Operating Activities	(669,861)	(548,633)
Cash flows from Investing Activities:
Receivable - related parties		(25,000)
Net Cash Used in Investing Activities		(25,000)
Cash Flows from Financing Activities
Proceeds from notes payable - related parties		101,833
Proceeds from convertible notes payable		171,000
Payments on notes payable - related parties	(100,000)
Payments on other notes payable	(40,000)	(50,000)
Advances - other		20,000
Proceeds from sale of common stock	416,500	75,000
Proceeds from stockholder advances	429,249	240,859
Net Cash Provided by Financing Activities	705,749	558,692
Net Increase (Decrease) in Cash	35,888	(14,941)
Cash Beginning of Period	1,628	16,043
Cash End of Period	37,516	1,102
Supplemental Disclosure of Cash Flow Information:
Cash Paid during the period for interest	49,046	16,779
Cash Paid during the period for taxes		952
Non-Cash investing and financing activities
New debt discount from convertible notes		204,978
Subscription receivables - warrants		16,245
Loan conversion (fair value of shares issued: $0 and $118,237)		76,542
Discount related to shares issued for promissory note fees	30,791
Conversion of stockholder advances – related parties to notes payable	429,247	178,093
Shares issued for promissory note fees	54,986	24,093
Shares issued for legal expense		$ 31,603

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Consolidated Statements of Cash Flows (Parenthetical) - USD ($)	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Statement of Cash Flows [Abstract]
Loan conversion fair value of shares issued	$ 0	$ 118,237

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ORGANIZATION

9 Months Ended

Sep. 30, 2021

Organization, Consolidation and Presentation of Financial Statements [Abstract]

ORGANIZATION

NOTE 1 – ORGANIZATION

Nature of Operations

Greenway Technologies, Inc., (“Greenway”, “GTI” or the “Company”) through its wholly owned subsidiary, Greenway Innovative Energy, Inc., is primarily engaged in the research, development and commercialization of a proprietary Gas-to-Liquids (GTL) syngas conversion system that can be economically scaled to meet individual natural gas field/resource requirements. The Company’s proprietary and patented technology has been realized in Greenway’s first generation commercial-scale G-Reformer^TM unit (“G-Reformer”), a unique and critical component of the Company’s overall GTL technology solution. Greenway’s objective is to become a material direct and licensed producer of renewable GTL synthesized diesel and jet fuels, with a near term focus on U.S. market opportunities.

Greenway’s GTL Technology

In August 2012, Greenway Technologies acquired 100% of Greenway Innovative Energy, Inc. (“GIE”) which owns patents and trade secrets for proprietary technologies to convert natural gas into synthesis gas (“syngas”). Based on a breakthrough process named Fractional Thermal Oxidation™ (“FTO”), the Company believes that its G-Reformer unit, combined with conventional and proprietary Fischer-Tropsch (“FT”) processes, offers an economical and scalable method to convert natural gas to liquid fuel.

To facilitate the commercialization process, Greenway announced in August 2019 that it had entered into an agreement to partially own and operate an existing GTL plant located in Wharton, Texas. Originally acquired by Mabert, a company controlled by director, Kevin Jones, members include OPMGE (a company formed to facilitate the joint venture), Mabert and Tom Phillips, an employee of the Company. The Company’s involvement in the venture is intended to facilitate third-party certification of the Company’s G-Reformer technology, related equipment and technology. In addition, the Company anticipates that OPMGE’s operations will demonstrate that the G-Reformer is a commercially viable technology for producing syngas and marketable fuel products. As the first operating GTL plant to use Greenway’s proprietary reforming technology and equipment, the Wharton joint venture facility is initially expected to yield a minimum of 75 - 100 barrels per day of gasoline and diesel fuels from converted natural gas. To date, the Company has not raised sufficient funding to achieve the aforementioned objectives but continues to work toward that end.

The Company believes that its proprietary G-Reformer is a major innovation in gas reforming and GTL technology in general. Initial tests have demonstrated that the Company’s solution appears to be superior to legacy technologies which are more costly, have a larger footprint and cannot be easily deployed at field sites to process associated gas, stranded gas, coal-bed methane, vented gas, or flared gas, all markets the Company seeks to service. The new plant is anticipated to prove out the economics for the Company’s technology and GTL processes.

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BASIS OF PRESENTATION AND GOING CONCERN UNCERTAINTIES

9 Months Ended

Sep. 30, 2021

Accounting Policies [Abstract]

BASIS OF PRESENTATION AND GOING CONCERN UNCERTAINTIES

NOTE 2 - BASIS OF PRESENTATION AND GOING CONCERN UNCERTAINTIES

Basis of Presentation

The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and the instructions to Rule 10-01 of Regulation S-X of the Securities and Exchange Commission (the “SEC”). Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, these unaudited condensed consolidated financial statements contain all adjustments, consisting of normal recurring adjustments, considered necessary for a fair presentation of the results of the interim periods, but are not necessarily indicative of the results of operations to be anticipated for the full year ending December 31, 2021. These unaudited condensed consolidated financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2020.

Principles of Consolidation

The accompanying unaudited condensed consolidated financial statements include the financial statements of Greenway and its wholly owned subsidiaries. All significant inter-company accounts and transactions were eliminated in consolidation.

The accompanying condensed unaudited consolidated financial statements include the accounts of the following entities:

Name of Entity	%			Entity	Incorporation	Relationship
Greenway Technologies, Inc.				Corporation	Texas	Parent
Universal Media Corporation		100	%	Corporation	Wyoming	Subsidiary
Greenway Innovative Energy, Inc.		100	%	Corporation	Nevada	Subsidiary
Logistix Technology Systems, Inc.		100	%	Corporation	Texas	Subsidiary

Greenway’s investments in unconsolidated entities in which a significant, but less than controlling, interest is held and in variable interest entities (“VIE”) in which the Company is not deemed to be the primary beneficiary are accounted for by the equity method. See Note 3 – Summary of Significant Accounting Policies.

Going Concern Uncertainties

The condensed unaudited consolidated financial statements have been prepared on a going concern basis, which contemplates realization of assets and the satisfaction of liabilities in the normal course of business. As of September 30, 2021, we have an accumulated deficit of $34,434,680. For the nine-months ended September 30, 2021, we had no revenue, generated a net loss of $1,412,879 and used cash of $669,861 for operating activities. The ability of the Company to continue as a going concern is in doubt and dependent upon achieving a profitable level of operations or on the ability of the Company to obtain necessary financing to fund ongoing operations. While the Company is attempting to commence revenue generating operations and thereby generate sustainable revenues, the Company’s current cash position is not sufficient to support its ongoing daily operations and requires the Company to raise addition capital through debt and/or equity sources. Management believes that its current and future plans will enable it to continue as a going concern for the next twelve months from the date of this report.

The outbreak of COVID-19 (coronavirus), caused by a novel strain of the coronavirus, was recognized as a pandemic by the World Health Organization, and the outbreak has become increasingly widespread in the United States, including in each of the areas in which the Company operates. The COVID-19 (coronavirus) outbreak has had a notable impact on general economic conditions, including but not limited to the temporary closures of many businesses, “shelter in place” and other governmental directives, reduced business and consumer spending due to both job losses, reduced investing activity and M&A transactions, among many other effects attributable to the COVID-19 (coronavirus), and there continue to be many unknowns. While to date the Company has not been required to stop operating, management is evaluating its use of its office space, virtual meetings and other measures. The Company continues to monitor the impact of the COVID-19 (coronavirus) outbreak. The extent to which the COVID-19 (coronavirus) outbreak will impact our operations, the operations of OPMGE and/or ability to obtain financing or future financial results is uncertain.

The accompanying unaudited consolidated financial statements do not include any adjustments to the recorded assets or liabilities that might be necessary should the Company have to curtail operations or be unable to continue in existence.

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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

9 Months Ended

Sep. 30, 2021

Accounting Policies [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

NOTE 3 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

A summary of significant accounting policies applied in the presentation of the condensed unaudited consolidated financial statements are as follows:

Property and Equipment

Property and equipment is recorded at cost. Major additions and improvements are capitalized. The cost and related accumulated depreciation of equipment retired or sold, are removed from the accounts and any differences between the undepreciated amount and the proceeds from the sale or salvage value are recorded as a gain or loss on sale of equipment. Depreciation is computed using the straight-line method over the estimated useful life of the assets.

Impairment of Long-Lived Assets

The Company assesses the impairment of long-lived assets whenever events or changes in circumstances indicate that the carrying amount may not be recoverable, in accordance with Accounting Standards Codification, ASC Topic 360, Property, Plant and Equipment. An asset or asset group is considered impaired if its carrying amount exceeds the undiscounted future net cash flow the asset or asset group is expected to generate. If an asset or asset group is considered impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds its fair value. If estimated fair value is less than the book value, the asset is written down to the estimated fair value and an impairment loss is recognized. There were no long-lived assets or impairment charges for the period ended September 30, 2021.

Revenue Recognition

The FASB issued ASC 606 as guidance on the recognition of revenue from contracts with customers in May 2014 with amendments in 2015 and 2016. Revenue recognition will depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance also requires disclosures regarding the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. The Company has not, to date, generated any revenues.

Equity Method Investment

On August 29, 2019, the Company entered into a Material Definitive Agreement related to the formation of OPM Green Energy, LLC (OPMGE). The Company contributed a limited license to use its proprietary and patented GTL technology for no actual cost basis in exchange for 42.86% (300 of 700 currently owned member units) revenue interest in OPMGE, expected to be later reduced to a 30% interest upon the completion of certain expected third-party investments for the remining 300 of 1,000 member units available. The Company evaluated its interest in OPMGE and determined that the Company does not control OPMGE. The Company accounts for its interest in OPMGE via the equity method of accounting. At September 30, 2021, there was no change in the investment cost of $0. At September 30, 2021, OPMGE had no material business activity as of such date. As described in Note 9, the Company maintains a Related Party receivable with OPMGE for $412,885 related to our advancing capital for certain of OPMGE’s capital expenditures that the Company believes are in their best interests. Due to the uncertainty of the collectability of the OPMGE receivable, the Company has fully reserved the full amount of this equity method receivable with OPMGE as of September 30, 2021.

Use of Estimates

The preparation of condensed unaudited consolidated financial statements in conformity with U.S. Generally Accepted Accounting Principles (“GAAP”) 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 condensed unaudited consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Such estimates include allowance for collectible receivables, derivative liability valuations and deferred tax valuation allowances. Actual results could differ from such estimates.

Cash and Cash Equivalents

The Company considers all highly liquid investments purchased with an original maturity of three-months or less to be cash

equivalents. There were no cash equivalents at September 30, 2021 or December 31, 2020, respectively.

Income Taxes

The Company accounts for income taxes in accordance with FASB ASC 740, “Income Taxes,” which requires that the Company recognize deferred tax liabilities and assets based on the differences between the financial statement carrying amounts and the tax bases of assets and liabilities, using enacted tax rates in effect in the years the differences are expected to reverse. Deferred income tax benefit (expense) results from the change in net deferred tax assets or deferred tax liabilities. A valuation allowance is recorded when it is more likely than not that some or all deferred tax assets will not be realized.

The Company has adopted the provisions of FASB ASC 740-10-05 Accounting for Uncertainty in Income Taxes. The ASC clarifies the accounting for uncertainty in income taxes recognized in an enterprise’s financial statements. The ASC prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. The ASC provides guidance on de-recognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. Open tax years, subject to IRS examination include 2016 – 2020, with no corporate tax returns filed for the years ending 2016 to 2020.

Net Loss Per Share, basic and diluted

Basic loss per share has been computed by dividing net loss available to common shareholders by the weighted average number of common shares issued and outstanding for the period. For the nine months ended September 30, 2021, shares issuable upon the exercise of warrants (3,000,000), shares convertible for debt (2,083,333) and shares outstanding but not yet issued (823,500) have been excluded as a common stock equivalent in the diluted loss per share because their effect would be anti-dilutive. For the nine months ended September 30, 2020, shares issuable upon the exercise of warrants (8,000,000), shares convertible for debt (3,616,539) and shares outstanding but not yet issued (356,186) have been excluded as a common stock equivalent in the diluted loss per share because their effect would be anti-dilutive.

Derivative Instruments

The Company accounts for derivative instruments in accordance with Accounting Standards Codification 815, Derivatives and Hedging (“ASC 815”), which establishes accounting and reporting standards for derivative instruments, including certain derivative instruments embedded in other contracts, and for hedging activities. They require that an entity recognize all derivatives as either assets or liabilities in the balance sheet and measure those instruments at fair value.

If certain conditions are met, a derivative may be specifically designated as a hedge, the objective of which is to match the timing of gain or loss recognition on the hedging derivative with the recognition of (i) the changes in the fair value of the hedged asset or liability that are attributable to the hedged risk or (ii) the earnings effect of the hedged forecasted transaction. For a derivative not designated as a hedging instrument, the gain or loss is recognized in income in the period of change. The Company did not have any derivative liabilities as of September 30, 2021. During the year ended December 31, 2020, the Company entered into two convertible notes creating derivative liabilities which were converted into shares and settled during the year.

Fair Value of Financial Instruments

Fair value measurements are determined by the Company’s adoption of authoritative guidance issued by the FASB, with the exception of the application of the statement to non-recurring, non-financial assets and liabilities, as permitted. Fair value is defined in the authoritative guidance as the price that would be received to sell an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. A fair value hierarchy was established, which prioritizes the inputs used in measuring fair value into three levels as follows:

Level 1 – Valuation based on unadjusted quoted market prices in active markets for identical assets or liabilities.

Level 2 – Valuation based on, observable inputs (other than level one prices), quoted market prices for similar assets such as at the measurement date; quoted prices in the market that are not active; or other inputs that are observable, either directly or indirectly.

Level 3 – Valuation based on unobservable inputs that are supported by little or no market activity, therefore requiring management’s best estimate of what market participants would use as fair value.

The following table represents the Company’s assets and liabilities by level measured at fair value on a recurring basis at September 30, 2021 and December 31, 2020:

Description		Level 1		Level 2		Level 3
September 30, 2021 Derivative Liabilities	$	-	$	-	$	-
December 31, 2020 Derivative Liabilities	$	-	$	-	$	-

All gains and losses on assets and liabilities measured at fair value on a recurring basis and classified as Level 3 within the fair value hierarchy are recognized in other interest income and expense in the accompanying condensed unaudited consolidated financial statements.

As of and for the nine months ended September 30, 2021, the Company did not have a derivative or derivative activity.

The following assets and liabilities are measured on the balance sheets at fair value on a recurring basis utilizing significant unobservable inputs or Level 3 assumptions in their valuation. The following tables provide a reconciliation of the beginning and ending balances of the liabilities:

The change in the convertible notes payable derivative liabilities at fair value for the nine-month period ended September 30, 2020, is as follows:

	Fair Value January 1, 2020		Change in Fair Value			New Convertible Notes		(Gain)/loss on Settlement			Conversions			Fair Value September 30, 2020
Derivative Liabilities	$	-	$	(53,023	)	$	204,978	$	(28,916	)	$	(42,616	)	$	80,423

Stock Based Compensation

The Company follows Accounting Standards Codification subtopic 718-10, Compensation (“ASC 718-10”) which requires that all share-based payments to both employees and non-employees be recognized in the income statement based on their fair values. At September 30, 2021, the Company did not have any outstanding stock options.

Concentration and Credit Risk

Financial instruments and related items, which potentially subject the Company to concentrations of credit risk consist primarily of cash. The Company places its cash with high credit quality institutions. At times, such deposits may be in excess of the FDIC insurance limit of $250,000. The Company did not have cash on deposit in excess of such limit on September 30, 2021 and December 31, 2020.

Research and Development

The Company accounts for research and development costs in accordance with Accounting Standards Codification subtopic 730-10, Research and Development (“ASC 730-10”). Under ASC 730-10, all research and development costs must be charged to expense as incurred. Accordingly, internal research and development costs are expensed as incurred. Third-party research and development costs are expensed when the contracted work has been performed or as milestone results have been achieved as defined under the applicable agreement. Company-sponsored research and development costs related to both present and future products are expensed in the period incurred. The Company incurred research and development expenses of $48,000 and $0 for the three months ended September 30, 2021 and 2020, and $126,000 and $0 for the nine months ended September 30, 2021 and 2020, respectively.

Issuance of Common Stock

The issuance of common stock for other than cash is recorded by the Company at market values based on the closing price of the stock on the date of any such grant.

Impact of New Accounting Standards

Management does not believe that any recently issued, but not yet effective accounting pronouncements, if adopted, would have a material effect on the accompanying condensed unaudited consolidated financial statements.

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PROPERTY, PLANT, AND EQUIPMENT

9 Months Ended

Sep. 30, 2021

Property, Plant and Equipment [Abstract]

PROPERTY, PLANT, AND EQUIPMENT

NOTE 4 – PROPERTY, PLANT, AND EQUIPMENT

	Range of Lives in Years		September 30, 2021			December 31, 2020
Equipment		5	$	2,032		$	2,032
Furniture and fixtures		5		1,983			1,983
				4,015			4,015
Less accumulated depreciation				(4,015	)		(4,015	)
			$	0		$	0

Depreciation expense was $0 for the nine months ended September 30, 2021 and 2020, respectively.

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CONVERTIBLE NOTES PAYABLE AND NOTES PAYABLE RELATED PARTIES

9 Months Ended

Sep. 30, 2021

Debt Disclosure [Abstract]

CONVERTIBLE NOTES PAYABLE AND NOTES PAYABLE RELATED PARTIES

NOTE 5 – CONVERTIBLE NOTES PAYABLE AND NOTES PAYABLE RELATED PARTIES

Convertible notes payable, including notes payable to related parties consisted of the following at September 30, 2021 and December 31, 2020 respectively:

	September 30, 2021		December 31, 2020
Secured notes payable with related parties at 18% per annum related to the Mabert LLC as Agent Loan Agreement originally dated September 14, 2018 for up to $5,000,000 (as amended), shown net of debt discount of $16,439 and $13,153 (1)	$	2,737,566	$	2,411,605
Total notes payable related parties	$	2,737,566	$	2,411,605
Unsecured convertible note payable at 4.5% per annum dated December 20, 2017 to a corporation, payable in two parts on January 8, 2018 and 2019 (2)		166,667		166,667
Promissory Note at 7.7% simple interest only, payable semi-annually, with interest due calculated on a 365-day year, default interest at 18%, with the principal amount due August 15, 2022 (3)		525,000		525,000
Settlement agreement to pay $5,000 per month for 60 monthly installments beginning March 2019. (4)		155,000		195,000
Total notes payable and convertible notes payable	$	846,667	$	886,667

(1) On September 14, 2018, the Company entered into a loan agreement with a private company, Mabert LLC, acting as Agent for various private lenders (the “Loan Agreement”) for the purpose of funding working capital and general corporate expenses up to $1,500,000, subsequently amended to a maximum of $5,000,000. Mabert LLC is a Texas limited liability company, owned by Director and stockholder, Kevin Jones, and his late wife Christine Early (for each and all references herein forward, “Mabert”). The loan is fully secured, Mabert having filed a UCC-1 with the State of Texas. For each Promissory Note loan made under the Loan Agreement, as a cost to each note, the Company agreed to issue warrants and/or stock for Common Stock valued at $0.01 per share on an initial one-time basis at 3.67:1 and subsequently on a 2:1 basis for each dollar borrowed.

Under the Loan Agreement, various private lenders have loaned gross loan proceeds of $2,754,005 (excluding a debt discount of $16,439, for a net $2,737,566 book debt) through September 30, 2021. Mr. Jones, and his late wife have loaned $2,821,586 from inception through September 30, 2021, including $142,936 in the three-month period ended September 30, 2021, and have received $100,000 in loan repayments. Pursuant to ACS 470, the fair value attributable to a discount on the debt is $16,439 and $26,389 for the nine months ended September 30, 2021 and 2020, respectively; this amount is amortized to interest expense on a straight-line basis over the terms of the loans.

The private party loans with the Company are often established by converting the Company’s outstanding stockholder advances due to related parties into a new note payable under the Loan Agreement in the quarter following the advance. There have been instances in which private lenders, under the Loan Agreement, enter into loans directly with the Company (not through an advance). As of December 31, 2020, the Company had a total of $142,934 in stockholder advances. In 2021, the Company received proceeds of $429,249 in the form of stockholder advances. Additionally, during the nine months ended September 30, 2021, a total of $429,247 has been converted to notes payables with related parties and the Company has made payments of $100,000 on the notes payable to related parties. The remaining $142,936 in stockholder advances will be converted into a note payable with related parties during the fourth quarter of 2021.

On March 31, 2020, the Company executed a Promissory Note under the Loan Agreement with Kevin Jones, a Director and shareholder for $101,823, at 18% interest per annum. As a cost of the note, the Company agreed to issue 203,646 shares of its Common Stock at a market price of $0.06 per share for a total debt discount of $10,901, subject to standard Rule 144 restrictions.

On July 1, 2020, the Company executed a Promissory Note under the Loan Agreement with Kevin Jones, a Director and shareholder for $128,093, at 18% interest per annum. As a cost of the note, the Company agreed to issue 256,186 shares of its Common Stock at a market price of $0.04 per share for a total debt discount of $9,488, subject to standard Rule 144 restrictions.

On July 1, 2020, the Company executed a Promissory Note under the Loan Agreement with Ransom Jones, a Director and shareholder for $25,000, at 10% interest per annum. As a cost of the note, the Company agreed to issue 50,000 shares of its Common Stock at a market price of $0.04 per share for a total debt discount of $1,852, subject to standard Rule 144 restrictions.

On July 1, 2020, the Company executed a Promissory Note under the Loan Agreement with Kent Harer, a Director and shareholder for $25,000, at 10% interest per annum. As a cost of the note, the Company agreed to issue 50,000 shares of its Common Stock at a market price of $0.04 per share for a total debt discount of $1,852, subject to standard Rule 144 restrictions.

On August 28, 2020, the Company executed a Promissory Note under the Loan Agreement with Michael Wykrent, a Director and shareholder for $10,000, at 18% interest per annum. As a cost of the note, the Company agreed to issue 20,000 shares of its Common Stock at a market price of $0.02 per share for a total debt discount of $293, subject to standard Rule 144 restrictions.

On October 1, 2020, the Company executed a Promissory Note under the Loan Agreement with Kevin Jones, a Director and shareholder for $95,352, at 18% interest per annum. As a cost of the note, the Company agreed to issue 190,704 shares of its Common Stock at a market price of $0.02 per share for a total debt discount of $2,795, subject to standard Rule 144 restrictions.

On October 1, 2020, the Company executed a Promissory Note under the Loan Agreement with Ransom Jones, a Director and shareholder for $3,433, at 10% interest per annum. As a cost of the note, the Company agreed to issue 6,867 shares of its Common Stock at a market price of $0.02 per share for a total debt discount of $101, subject to standard Rule 144 restrictions.

On October 1, 2020, the Company executed a Promissory Note under the Loan Agreement with Kent Harer, a Director and shareholder for $5,000, at 10% interest per annum. As a cost of the note, the Company agreed to issue 10,000 shares of its Common Stock at a market price of $0.02 per share for a total debt discount of $147, subject to standard Rule 144 restrictions.

On January 1, 2021, the Company executed a Promissory Note under the Loan Agreement with Kevin Jones, a Director and shareholder for $142,934, at 18% interest per annum. As a cost of the note, the Company agreed to issue 285,868 shares of its Common Stock at a market price of $0.03 per share for a total debt discount of $8,014, subject to standard Rule 144 restrictions

On April 1, 2021, the Company executed a Promissory Note under the Loan Agreement with Michael Wykrent, a Director and shareholder for $70,000, at 18% interest per annum. As a cost of the note, the Company agreed to issue 140,000 shares of its Common Stock at a market price of $0.03 per share for a total debt discount of $3,962, subject to standard Rule 144 restrictions.

On April 1, 2021, the Company executed a Promissory Note under the Loan Agreement with Kent Harer, a Director and shareholder for $5,000, at 18% interest per annum. As a cost of the note, the Company agreed to issue 10,000 shares of its Common Stock at a market price of $0.03 per share for a total debt discount of $283, subject to standard Rule 144 restrictions.

On April 1, 2021, the Company executed a Promissory Note under the Loan Agreement with Kevin Jones, a Director and shareholder for $112,064, at 18% interest per annum. As a cost of the note, the Company agreed to issue 224,128 shares of its Common Stock at a market price of $0.03 per share for a total debt discount of $6,343, subject to standard Rule 144 restrictions.

On July 1, 2021, the Company executed a Promissory Note under the Loan Agreement with Kevin Jones, a Director and shareholder for $99,250, at 18% interest per annum. As a cost of the note, the Company agreed to issue 198,500 shares of its Common Stock at a market price of $0.07 per share for a total debt discount of $12,189, subject to standard Rule 144 restrictions. The 224,128 shares of common stock are reported in common stock to be issued as of September 30, 2021, as they were not yet issued by the Company.

Each of the individual Promissory Notes have one-year terms, automatically renewable, unless an individual lender under the Loan Agreement notifies the agent within 60 days of the term that they would like payment of the principal and accrued interest upon the end of such promissory note term. No lenders requested payment for such individual promissory notes through the period ended September 2021.

(2) On December 20, 2017, the Company issued a convertible promissory note for $166,667, fully payable by December 20, 2019. This loan is in default for breach of payment. By its terms, the cash interest payable increased to 18% per annum on December 20, 2018 and continues at such rate until the default is cured or is paid at term. See Note 6 – Notes Payable and Convertible Notes Payable.

(3) On September 26, 2019, the Company entered into a Settlement Agreement with Southwest Capital Funding Ltd. (“Southwest”),as part of the consideration for an agreed stipulated judgement, we agreed to provide Southwest a Promissory Note in the amount of $525,000, providing for a three-year term, at 7.7% simple interest only, payable semi-annually, with interest due calculated on a 365-day year, default interest at 18%, with the principal amount due at maturity. The Company did not pay the third semi-annual interest payment when it was due in February 2021, and thus reported the note as a current liability as of December 31, 2020. In May 2021, the Company made the semi-annual interest payment (including late fees), cured the default and reclassed the note back to long-term liabilities. As of August 15, 2021, the maturity date of the note is one year and thus the Company reclassed the note to current liabilities for the period ended September 30, 2021. Since the note was issued, four semiannual payments of interest have been paid. See Note 6 – Notes Payable and Convertible Notes Payable.

(4) On March 6, 2019, the Company entered into Settlement Agreement with Wildcat Consulting Group LLC (“Wildcat”), as settlement of a consulting agreement lawsuit the Company agreed to pay Wildcat a total of $300,000, payable in sixty monthly installments of $5,000 per month beginning March 2019 and continuing each month until the settlement is paid in full.

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NOTES PAYABLE AND CONVERTIBLE NOTES PAYABLE

9 Months Ended

Sep. 30, 2021

Debt Disclosure [Abstract]

NOTES PAYABLE AND CONVERTIBLE NOTES PAYABLE

NOTE 6 – NOTES PAYABLE AND CONVERTIBLE NOTES PAYABLE

The Company issued a $166,667 convertible promissory note bearing interest at 4.50% per annum to a company, Tunstall Canyon Group, LLC, payable in two installments of $86,667 on December 20, 2018 and $80,000, plus accrued interest on December 20, 2019. Per the terms of the promissory note, the holder has the right to convert the note into common stock of the Company at a conversion price of $0.08 per share for each one dollar of cash payment which may be due (which would be 1,083,333 shares for the first $86,667 payment and 1,000,000 shares for the second $80,000 installment payment, respectively). As of December 20, 2018, a material event of default occurred for breach of payment of the interest then due, with such default continuing thought the date of this report. The holder of the note has the right to convert at any time and has indicated that it might convert under settlement discussions with the principal, Richard Halden, unrelated to this convertible note. See Note 5 – Convertible Notes Payable and Notes Payable Related Parties.

The Company evaluated the terms of the convertible note in accordance with ASC 815-40, Contracts in Entity’s Own Equity, and concluded that the Convertible Note did not result in a derivative. The Company evaluated the terms of the convertible note and concluded that there was a beneficial conversion feature since the convertible note was convertible into shares of common stock at a discount to the market value of the common stock. The discount related to the beneficial conversion feature on the note was valued at $27,083 based on the $0.013 difference between the market price of $0.093 and the conversion price of $0.08 times the 2,083,325 conversion shares. As a result of the event of default, the discount related to the beneficial conversion feature has been extinguished for the balance of 2018, and until the event of default is cured or the note is converted to common shares.

On September 26, 2019, the Company entered into a Settlement Agreement with Southwest Capital Funding Ltd. (“Southwest”) to resolve all conflicts related to a lawsuit in Hawaii, cause no. 16-1-0342, in the Circuit Court of the Third Circuit, State of Hawaii, styled Southwest Capital Funding, Ltd. v. Mamaki Tea, Inc., et. al., whereby the Company had provided loan guarantees for Mamaki of Hawaii, Inc., Hawaiian Beverages, Inc., Curtis Borman, and Lee Jenison. As part of the consideration for an agreed stipulated judgement, we agreed to provide Southwest a Promissory Note in the amount of $525,000, providing for a three-year term, at 7.7% simple interest only, payable semi-annually, with interest due calculated on a 365-day year, default interest at 18%, with the principal amount due at maturity. The principal balance of $525,000 and remaining accrued interest on the note is due August 15, 2022. In addition, we agreed to issue and deliver to Southwest 1,000,000 shares of Rule 144 restricted Common Stock valued at $0.05 per share. The shares were issued in the 3^rd quarter 2019 and were fully expensed in the period ended December 2019. The Company did not pay the third semi-annual interest payment when it was due in February 2021. In May 2021, the Company made the semi-annual interest payment (including late fees) and cured the default. See Note 5 – Convertible Notes Payable and Notes Payable Related Parties.

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ACCRUED EXPENSES

9 Months Ended

Sep. 30, 2021

Payables and Accruals [Abstract]

ACCRUED EXPENSES

NOTE 7 – ACCRUED EXPENSES

Accrued expenses consisted entirely of accrued consulting fees. The consulting work involved fundraising and capital raising activities with potential investors for the Company, as well as consulting work related to chemical engineering and plant operations.

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CAPITAL STRUCTURE

9 Months Ended

Sep. 30, 2021

Equity [Abstract]

CAPITAL STRUCTURE

NOTE 8 – CAPITAL STRUCTURE

The Company is authorized to issue 500,000,000 shares of Common Stock with a par value of $.0001 per share, with each share having one voting right.

Common Stock

At September 30, 2021, there were 346,602,500 total shares of Common Stock outstanding.

During the three-months ended September 30, 2021, the Company: issued 3,911,628 shares of Rule 144 restricted Common Stock, including 3,687,500 shares issued in private placement to fifteen (15) accredited investors at an average price of $0.05 per share for $182,500, and 224,128 shares for costs related to the issuance of promissory notes at an average price of $0.03 per share. As of September 30, 2021, the Company has 198,500 shares of common stock to be issued to Kevin Jones, a related party, for costs related to issuance of promissory notes, and 625,000 shares of common stock to be issued in private placement to one (1) accredited investor, these shares will be issued in the fourth quarter of 2021.

During the three-months ended June 30, 2021, the Company: issued 6,222,797 shares of Rule 144 restricted Common Stock, including 4,766,667 shares issued in private placement to five (5) accredited investors at an average price of $0.04 per share for $173,000, and 482,500 shares issued for payment of consulting fees at a price of $0.03 per share, and 973,630 shares for costs related to the issuance of promissory notes at an average price of $0.05 per share.

During the three-months ended March 31, 2021, the Company: issued 1,200,000 shares of Rule 144 restricted Common Stock, issued in a private placement to an accredited investor, at $0.03 per share for $36,000.

During the three-months ended September 30, 2020, the Company issued 4,823,768 shares of Rule 144 restricted Common Stock as the result of a lender’s conversion of a portion of note principal at an average price of $0.02 per share.

During the three-months ended June 30, 2020, the Company: issued 904,711 shares of Rule 144 restricted Common Stock, including 375,000 shares issued in a private placement to an accredited investor, at $0.04 per share, and 529,711 shares at an average of $0.06 per share for the settlement of legal expenses which were previously accrued pursuant to agreements with two prior law firms.

During the three-months ended March 31, 2020, the Company: issued 13,824,607 shares of Rule 144 restricted Common Stock, including 600,000 shares issued in a private placement to an accredited investor, at $0.10 per share, 3,906,610 for the conversion of a prior loan at $0.047 per shares, 1,460,260 shares for costs related to the issuance of promissory notes at an average $0.085 per share and 857,737 shares at $0.01 per share from convertible warrants conversions. Shares to be issued are for the settlement of legal expenses which were accrued pursuant to agreements with two prior law firms.

At December 31, 2020, there were 335,268,075 shares of Common Stock issued and outstanding.

Stock options, warrants and other rights

As of September 30, 2021 and 2020 respectively, the Company has not adopted and does not have an employee stock option plan.

For the year ended December 2020, the Company had 7,000,000 warrants outstanding, of which 4,000,000 have expired in 2021. As of September 30, 2021, the Company had total warrants issued and outstanding of 3,000,000, which are in favor of Dean Goekel and expire in June 2022. The exercise price of these remaining warrants is $0.03. There is no unvested expense relating to the warrants. After meeting certain deliverables set forth in the agreement, Mr. Goekel will be issued additional stock warrants for 1,000,000 shares at a strike price that is an average of the stock price for the 90 days that the deliverables have been met.

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RELATED PARTY TRANSACTIONS

9 Months Ended

Sep. 30, 2021

Related Party Transactions [Abstract]

RELATED PARTY TRANSACTIONS

NOTE 9 - RELATED PARTY TRANSACTIONS

After approval during a properly called special meeting of the board of directors, on September 14, 2018 Mabert, LLC, a Texas Limited Liability Company owned by a director and stockholder, Kevin Jones and his late wife Christine Early, as an Agent for various private lenders including themselves, entered into a loan agreement (“Loan Agreement”) for the purpose of funding working capital and general corporate expenses for the Company of up to $1,500,000, which was subsequently amended to provide up to $5,000,000. The Company bylaws provide no bar from transactions with Interested Directors, so long as the interested party does not vote on such transaction. Mr. Jones as an Interested Director did not vote on this transaction. Since the inception of the Loan Agreement through September 30, 2021, a total of $2,754,005 (excluding a debt discount of $16,439) has been loaned to the Company and $911,062 has been accrued in interest by eight shareholders, including Mr. Jones. See Note 5 – Convertible Notes Payable and Notes Payable Related Parties.

Through Mabert, as of September 30, 2021, Mr. Jones along with his late wife and his company have loaned $2,678,651, net of repayments, and six other shareholders have loaned the balance of the Mabert Loans. These loans are secured by the assets of the Company. A financing statement and UCC-1 have been filed according to Texas statutes. Should a default under the loan agreement occur, there could be a foreclosure or a bankruptcy proceeding filed by the Agent for these shareholders. The actions of the Company in case of default can only be determined by the shareholders. A foreclosure sale or distribution through bankruptcy could only result in the creditors receiving a pro rata payment based upon the terms of the loan agreement. Mabert did not nor will it receive compensation for its work as an agent for the lenders.

For the period ended September 30, 2021, the Company accrued expenses for related parties of $2,006,902 to account for the total deferred compensation expenses among two current executives, two former executive and one current employee. Each of the current executives and employees have agreed to defer their compensation until such time as sufficient cash is available to make such payments, the Company’s Chief Financial Officer having the express authority to determine what constitutes cash sufficiency from time-to-time.

Through the period ended September 30, 2021, the Company received $142,936 in cash advances (net of conversions to notes payable) from one of our directors, Kevin Jones, a greater than 5% shareholder. Through the period ended September 30, 2020, the Company received $113,785 in cash and payment advances from four directors, Michael Wykrent, Ransom Jones, Kent Harer and Kevin Jones, a greater than 5% shareholder, in the amounts of $10,000, $3,433, $5,000 and $95,352 respectively. These amounts have been accrued as Advances - related parties for the periods.

Through the periods ended September 30, 2021 and December 31, 2020, the Company made advances to an affiliate, OPMGE, of $412,885. As reported previously, the Company owns a non-consolidating 42.86% interest in the OPMGE GTL plant located in Wharton, Texas. In the event of default, the Company holds a second lien against the assets of OPMGE. The amount advanced was booked as a related party receivable by the Company. Given the uncertainty of the collectability of this receivable, the Company has fully reserved the full amount of this equity method receivable with OPMGE as of December 31, 2020. The Company does not consider the results of the equity method investee to be material to the Company’s net loss. The cost basis for this equity method investee is zero and thus, losses have not been allocated to the Company.

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COMMITMENTS AND CONTINGENCIES

9 Months Ended

Sep. 30, 2021

Commitments and Contingencies Disclosure [Abstract]

COMMITMENTS AND CONTINGENCIES

NOTE 10 – COMMITMENTS AND CONTINGENCIES

Employment Agreements

In August 2012, the Company entered into an employment agreement with our chairman of the board, Ray Wright, as president of Greenway Innovative Energy, Inc., for a term of five years with compensation of $90,000 per year. In September 2014, Wright’s employment agreement was amended to increase such annual pay to $180,000. By its terms, the employment agreement automatically renews each year for successive one-year periods, unless otherwise earlier terminated. During the three-month period ended September 30, 2021, the Company paid and/or accrued a total of $45,000 for the period under the terms of the agreement.

Effective May 10, 2018, the Company entered into identical employment agreements with John Olynick, as President, and Ransom Jones, as Chief Financial Officer, respectively. The terms and conditions of their employment agreements were identical. John Olynick elected not to renew his employment agreement and resigned as President on July 19, 2019. Ransom Jones, as Chief Financial Officer, earns a salary of $120,000 per year. Mr. Jones also serves as the Company’s Secretary and Treasurer. During each year that Mr. Jones’ agreement is in effect, he is entitled to receive a bonus (“Bonus”) equal to at least Thirty-Five Thousand Dollars ($35,000) per year, such amount having been accrued for the period ended September 30, 2021. Both Mr. Olynick and Mr. Jones received a grant of common stock (the “Stock Grant”) at the start of their employment equal to 250,000 shares each of the Company’s Common Stock, par value $.0001 per share (the “Common Stock”), such shares vesting immediately. Mr. Jones is also entitled to participate in the Company’s benefit plans when such plans exist.

Effective April 1, 2019, the Company entered into an employment agreement with Ryan Turner for a term of twelve (12) months with compensation of $80,000 per year, to manage the Company’s Business Development and Investor Relations functions. Turner reports to the President of Greenway Technologies and is entitled to a no-cost grant of common stock equal to 2,500,000 shares of the Company’s Rule 144 restricted common stock, par value $.0001 per share, valued at $.06 per share, or $150,000, which was expensed as of the effective date of the agreement. Such stock-based compensation shares were physically issued in February 2020. Mr. Turner is no longer with the Company.

Other

In the August 2012 acquisition agreement with Greenway Innovative Energy, Inc. (“GIE”), the Company agreed to: (i) issue an additional 7,500,000 shares of restricted common stock when the first portable GTL unit is built and becomes operational, and, is capable of producing 2,000 barrels of diesel or jet fuel per day, and (ii) pay a 2% royalty on all gross production sales on each unit placed in production. In connection with a settlement agreement with the Greer Family Trust (‘Trust”), the successor owner of one of the two founders and prior owners of GIE on February 6, 2018, the Company exchanged Greer’s half of the 7,500,000 shares (3,750,000 shares) to be issued in the future, Greer’s half of the 2% royalty, a termination of Greer’s then current Employment Agreement and the Trust’s waiver of any future claims against the Company for any reason, for the issuance and delivery to the Trust of three million (3,000,000) restricted shares of the Company’s common stock and a convertible Promissory Note for $150,000. As a result, only 3,750,000 common shares are committed to be later issued under the original 2012 acquisition agreement.

The Company has accrued management fees of $1,301,964 related to separation agreements and settlement expenses for two prior executives of the Company, Richard Halden and Randy Moseley, who both resigned from their respective management positions in 2016, with Halden then further resigning as a director from our Board of Directors in Feb 2017. Although we have not maintained currency with respect to the contractual payment obligations therein, both former employees are greater than five percent shareholders and had agreed to defer payments until such time as we have sufficient available liquidity to begin making payments on a regular basis. In March 2020, Halden filed suit against the Company alleging claims arising from his severance and release agreement between the parties, seeking to recover monetary damages, interest, court costs, and attorney’s fees. The Company answered the lawsuit and asserted a number of affirmative defenses; subsequently, the lawsuit was dismissed without prejudice on November 19, 2019. Other than an increase in our legal expenses related to defending against Halden’s lawsuit, and given the subsequent dismissal of the same, we expect no further material financial impacts from such accrued fees until any such regular payments are able to begin, or another form of settlement is reached.

Leases

In February 2016, the Financial Accounting Standards Board (“FASB”) issued ASU 2016-02, Leases (Topic 842). The updated guidance requires lessees to recognize lease assets and lease liabilities for most operating leases. In addition, the updated guidance requires that lessors separate lease and non-lease components in a contract in accordance with the new revenue guidance in ASC 606. This guidance is effective for interim and annual reporting periods beginning after December 15, 2018. The Company adopted this guidance effective January 1, 2019 and noted that the leases discussed below did meet the requirements for recording a right of use asset or liability under ASC-842 given that they were short term leases.

Greenway rents approximately 600 square feet of office space at 1521 North Cooper St., Suite 205, Arlington, Texas 76011, at a rate of $949 per month, under a one-year lease agreement, renewable for successive one-year terms in the Company’s sole discretion.

Each September, the Company pays $11,880 in annual maintenance fees on its Arizona BLM mining leases, under one-year lease agreements, renewable for successive one-year terms in the Company’s sole discretion in addition. These leases provide for 10% royalties based on production, if any. There has been no production to date.

Legal Matters

On October 19, 2019 the Company was served with a lawsuit by Norman Reynolds, a previously engaged counsel by the Company. The suit was filed in Harris County District Court, Houston, Texas, asserting claims for unpaid fees of $90,378. The jurisdiction for the case was moved to Tarrant County District Count, Fort Worth, Texas. While fully reserved, Greenway vigorously disputes the total amount claimed. Greenway has asserted counterclaims based upon alleged conflicts of interest, breaches of fiduciary duty and violations of the Texas Deceptive Trade Practices Act (“DTPA”). During the fourth quarter of 2021, the two parties met for mediation but no conclusion was reached. Greenway is confident in its defenses and counterclaims and intends to vigorously defend its interests and prosecute its claims.

On September 7, 2021, the Company was served with a demand for mediation and potential arbitration by Gregory Sanders, a previous employee of the Company. The demand claims Mr. Sanders had an employment agreement with the Company entitling him to certain compensation payments under the contract. No conclusion was met during mediation which occurred in the fourth quarter of 2021. Greenway is confident in its defenses and counterclaims and intends to vigorously defend its interests and prosecute its claims.

Capital Expenditures

The last funded Scope of Work (“SOW”) under our SRA with UTA was completed in the year ended December 2019, with payments made of $120,000 to complete the work described in the prior SOW. We signed a new SRA with UTA effective March 1, 2021 which relates to the testing and commercialization phase of our GTL technology. The term of the agreement is through February 15, 2022. The first payment under the SRA was made in March 2021 for $30,000. Going forward on the 15^th of each month we will pay UTA $15,454.54 through February 15, 2022, for a total commitment of $200,000. For the nine-months ended September 30, 2021, we have paid UTA a total of $126,000.

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SUBSEQUENT EVENTS

9 Months Ended

Sep. 30, 2021

Subsequent Events [Abstract]

SUBSEQUENT EVENTS

NOTE 11-SUBSEQUENT EVENTS

Effective November 3, 2021, Kevin Jones resigned from the Board of Directors for the Company.

From October 1, 2021 through November 15, 2021, the Company issued 2,291,667 shares of Rule 144 restricted Common Stock issued in private placements to three accredited investors at an average price of $0.03 per share.

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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

9 Months Ended

Sep. 30, 2021

Accounting Policies [Abstract]

Property and Equipment

Property and Equipment

Property and equipment is recorded at cost. Major additions and improvements are capitalized. The cost and related accumulated depreciation of equipment retired or sold, are removed from the accounts and any differences between the undepreciated amount and the proceeds from the sale or salvage value are recorded as a gain or loss on sale of equipment. Depreciation is computed using the straight-line method over the estimated useful life of the assets.

Impairment of Long-Lived Assets

Impairment of Long-Lived Assets

The Company assesses the impairment of long-lived assets whenever events or changes in circumstances indicate that the carrying amount may not be recoverable, in accordance with Accounting Standards Codification, ASC Topic 360, Property, Plant and Equipment. An asset or asset group is considered impaired if its carrying amount exceeds the undiscounted future net cash flow the asset or asset group is expected to generate. If an asset or asset group is considered impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds its fair value. If estimated fair value is less than the book value, the asset is written down to the estimated fair value and an impairment loss is recognized. There were no long-lived assets or impairment charges for the period ended September 30, 2021.

Revenue Recognition

Revenue Recognition

The FASB issued ASC 606 as guidance on the recognition of revenue from contracts with customers in May 2014 with amendments in 2015 and 2016. Revenue recognition will depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance also requires disclosures regarding the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. The Company has not, to date, generated any revenues.

Equity Method Investment

Equity Method Investment

On August 29, 2019, the Company entered into a Material Definitive Agreement related to the formation of OPM Green Energy, LLC (OPMGE). The Company contributed a limited license to use its proprietary and patented GTL technology for no actual cost basis in exchange for 42.86% (300 of 700 currently owned member units) revenue interest in OPMGE, expected to be later reduced to a 30% interest upon the completion of certain expected third-party investments for the remining 300 of 1,000 member units available. The Company evaluated its interest in OPMGE and determined that the Company does not control OPMGE. The Company accounts for its interest in OPMGE via the equity method of accounting. At September 30, 2021, there was no change in the investment cost of $0. At September 30, 2021, OPMGE had no material business activity as of such date. As described in Note 9, the Company maintains a Related Party receivable with OPMGE for $412,885 related to our advancing capital for certain of OPMGE’s capital expenditures that the Company believes are in their best interests. Due to the uncertainty of the collectability of the OPMGE receivable, the Company has fully reserved the full amount of this equity method receivable with OPMGE as of September 30, 2021.

Use of Estimates

Use of Estimates

The preparation of condensed unaudited consolidated financial statements in conformity with U.S. Generally Accepted Accounting Principles (“GAAP”) 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 condensed unaudited consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Such estimates include allowance for collectible receivables, derivative liability valuations and deferred tax valuation allowances. Actual results could differ from such estimates.

Cash and Cash Equivalents

Cash and Cash Equivalents

The Company considers all highly liquid investments purchased with an original maturity of three-months or less to be cash

equivalents. There were no cash equivalents at September 30, 2021 or December 31, 2020, respectively.

Income Taxes

Income Taxes

The Company accounts for income taxes in accordance with FASB ASC 740, “Income Taxes,” which requires that the Company recognize deferred tax liabilities and assets based on the differences between the financial statement carrying amounts and the tax bases of assets and liabilities, using enacted tax rates in effect in the years the differences are expected to reverse. Deferred income tax benefit (expense) results from the change in net deferred tax assets or deferred tax liabilities. A valuation allowance is recorded when it is more likely than not that some or all deferred tax assets will not be realized.

The Company has adopted the provisions of FASB ASC 740-10-05 Accounting for Uncertainty in Income Taxes. The ASC clarifies the accounting for uncertainty in income taxes recognized in an enterprise’s financial statements. The ASC prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. The ASC provides guidance on de-recognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. Open tax years, subject to IRS examination include 2016 – 2020, with no corporate tax returns filed for the years ending 2016 to 2020.

Net Loss Per Share, basic and diluted

Net Loss Per Share, basic and diluted

Basic loss per share has been computed by dividing net loss available to common shareholders by the weighted average number of common shares issued and outstanding for the period. For the nine months ended September 30, 2021, shares issuable upon the exercise of warrants (3,000,000), shares convertible for debt (2,083,333) and shares outstanding but not yet issued (823,500) have been excluded as a common stock equivalent in the diluted loss per share because their effect would be anti-dilutive. For the nine months ended September 30, 2020, shares issuable upon the exercise of warrants (8,000,000), shares convertible for debt (3,616,539) and shares outstanding but not yet issued (356,186) have been excluded as a common stock equivalent in the diluted loss per share because their effect would be anti-dilutive.

Derivative Instruments

Derivative Instruments

The Company accounts for derivative instruments in accordance with Accounting Standards Codification 815, Derivatives and Hedging (“ASC 815”), which establishes accounting and reporting standards for derivative instruments, including certain derivative instruments embedded in other contracts, and for hedging activities. They require that an entity recognize all derivatives as either assets or liabilities in the balance sheet and measure those instruments at fair value.

If certain conditions are met, a derivative may be specifically designated as a hedge, the objective of which is to match the timing of gain or loss recognition on the hedging derivative with the recognition of (i) the changes in the fair value of the hedged asset or liability that are attributable to the hedged risk or (ii) the earnings effect of the hedged forecasted transaction. For a derivative not designated as a hedging instrument, the gain or loss is recognized in income in the period of change. The Company did not have any derivative liabilities as of September 30, 2021. During the year ended December 31, 2020, the Company entered into two convertible notes creating derivative liabilities which were converted into shares and settled during the year.

Fair Value of Financial Instruments

Fair Value of Financial Instruments

Fair value measurements are determined by the Company’s adoption of authoritative guidance issued by the FASB, with the exception of the application of the statement to non-recurring, non-financial assets and liabilities, as permitted. Fair value is defined in the authoritative guidance as the price that would be received to sell an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. A fair value hierarchy was established, which prioritizes the inputs used in measuring fair value into three levels as follows:

Level 1 – Valuation based on unadjusted quoted market prices in active markets for identical assets or liabilities.

Level 2 – Valuation based on, observable inputs (other than level one prices), quoted market prices for similar assets such as at the measurement date; quoted prices in the market that are not active; or other inputs that are observable, either directly or indirectly.

Level 3 – Valuation based on unobservable inputs that are supported by little or no market activity, therefore requiring management’s best estimate of what market participants would use as fair value.

The following table represents the Company’s assets and liabilities by level measured at fair value on a recurring basis at September 30, 2021 and December 31, 2020:

Description		Level 1		Level 2		Level 3
September 30, 2021 Derivative Liabilities	$	-	$	-	$	-
December 31, 2020 Derivative Liabilities	$	-	$	-	$	-

All gains and losses on assets and liabilities measured at fair value on a recurring basis and classified as Level 3 within the fair value hierarchy are recognized in other interest income and expense in the accompanying condensed unaudited consolidated financial statements.

As of and for the nine months ended September 30, 2021, the Company did not have a derivative or derivative activity.

The following assets and liabilities are measured on the balance sheets at fair value on a recurring basis utilizing significant unobservable inputs or Level 3 assumptions in their valuation. The following tables provide a reconciliation of the beginning and ending balances of the liabilities:

The change in the convertible notes payable derivative liabilities at fair value for the nine-month period ended September 30, 2020, is as follows:

	Fair Value January 1, 2020		Change in Fair Value			New Convertible Notes		(Gain)/loss on Settlement			Conversions			Fair Value September 30, 2020
Derivative Liabilities	$	-	$	(53,023	)	$	204,978	$	(28,916	)	$	(42,616	)	$	80,423

Stock Based Compensation

Stock Based Compensation

The Company follows Accounting Standards Codification subtopic 718-10, Compensation (“ASC 718-10”) which requires that all share-based payments to both employees and non-employees be recognized in the income statement based on their fair values. At September 30, 2021, the Company did not have any outstanding stock options.

Concentration and Credit Risk

Concentration and Credit Risk

Financial instruments and related items, which potentially subject the Company to concentrations of credit risk consist primarily of cash. The Company places its cash with high credit quality institutions. At times, such deposits may be in excess of the FDIC insurance limit of $250,000. The Company did not have cash on deposit in excess of such limit on September 30, 2021 and December 31, 2020.

Research and Development

Research and Development

The Company accounts for research and development costs in accordance with Accounting Standards Codification subtopic 730-10, Research and Development (“ASC 730-10”). Under ASC 730-10, all research and development costs must be charged to expense as incurred. Accordingly, internal research and development costs are expensed as incurred. Third-party research and development costs are expensed when the contracted work has been performed or as milestone results have been achieved as defined under the applicable agreement. Company-sponsored research and development costs related to both present and future products are expensed in the period incurred. The Company incurred research and development expenses of $48,000 and $0 for the three months ended September 30, 2021 and 2020, and $126,000 and $0 for the nine months ended September 30, 2021 and 2020, respectively.

Issuance of Common Stock

Issuance of Common Stock

The issuance of common stock for other than cash is recorded by the Company at market values based on the closing price of the stock on the date of any such grant.

Impact of New Accounting Standards

Impact of New Accounting Standards

Management does not believe that any recently issued, but not yet effective accounting pronouncements, if adopted, would have a material effect on the accompanying condensed unaudited consolidated financial statements.

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BASIS OF PRESENTATION AND GOING CONCERN UNCERTAINTIES (Tables)

9 Months Ended

Sep. 30, 2021

Accounting Policies [Abstract]

SCHEDULE OF SUBSIDIARIES

The accompanying condensed unaudited consolidated financial statements include the accounts of the following entities:

Name of Entity	%			Entity	Incorporation	Relationship
Greenway Technologies, Inc.				Corporation	Texas	Parent
Universal Media Corporation		100	%	Corporation	Wyoming	Subsidiary
Greenway Innovative Energy, Inc.		100	%	Corporation	Nevada	Subsidiary
Logistix Technology Systems, Inc.		100	%	Corporation	Texas	Subsidiary

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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

9 Months Ended

Sep. 30, 2021

Accounting Policies [Abstract]

SCHEDULE OF COMPANY'S ASSETS AND LIABILITIES BY LEVEL MEASURED AT FAIR VALUE ON A RECURRING BASIS

The following table represents the Company’s assets and liabilities by level measured at fair value on a recurring basis at September 30, 2021 and December 31, 2020:

Description		Level 1		Level 2		Level 3
September 30, 2021 Derivative Liabilities	$	-	$	-	$	-
December 31, 2020 Derivative Liabilities	$	-	$	-	$	-

SCHEDULE OF CHANGE IN NOTES PAYABLE AT FAIR VALUE

The change in the convertible notes payable derivative liabilities at fair value for the nine-month period ended September 30, 2020, is as follows:

	Fair Value January 1, 2020		Change in Fair Value			New Convertible Notes		(Gain)/loss on Settlement			Conversions			Fair Value September 30, 2020
Derivative Liabilities	$	-	$	(53,023	)	$	204,978	$	(28,916	)	$	(42,616	)	$	80,423

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PROPERTY, PLANT, AND EQUIPMENT (Tables)

9 Months Ended

Sep. 30, 2021

Property, Plant and Equipment [Abstract]

SCHEDULE OF PROPERTY PLANT, AND EQUIPMENT

	Range of Lives in Years		September 30, 2021			December 31, 2020
Equipment		5	$	2,032		$	2,032
Furniture and fixtures		5		1,983			1,983
				4,015			4,015
Less accumulated depreciation				(4,015	)		(4,015	)
			$	0		$	0

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CONVERTIBLE NOTES PAYABLE AND NOTES PAYABLE RELATED PARTIES (Tables)

9 Months Ended

Sep. 30, 2021

Debt Disclosure [Abstract]

SCHEDULE OF NOTES PAYABLE

Convertible notes payable, including notes payable to related parties consisted of the following at September 30, 2021 and December 31, 2020 respectively:

	September 30, 2021		December 31, 2020
Secured notes payable with related parties at 18% per annum related to the Mabert LLC as Agent Loan Agreement originally dated September 14, 2018 for up to $5,000,000 (as amended), shown net of debt discount of $16,439 and $13,153 (1)	$	2,737,566	$	2,411,605
Total notes payable related parties	$	2,737,566	$	2,411,605
Unsecured convertible note payable at 4.5% per annum dated December 20, 2017 to a corporation, payable in two parts on January 8, 2018 and 2019 (2)		166,667		166,667
Promissory Note at 7.7% simple interest only, payable semi-annually, with interest due calculated on a 365-day year, default interest at 18%, with the principal amount due August 15, 2022 (3)		525,000		525,000
Settlement agreement to pay $5,000 per month for 60 monthly installments beginning March 2019. (4)		155,000		195,000
Total notes payable and convertible notes payable	$	846,667	$	886,667

(1) On September 14, 2018, the Company entered into a loan agreement with a private company, Mabert LLC, acting as Agent for various private lenders (the “Loan Agreement”) for the purpose of funding working capital and general corporate expenses up to $1,500,000, subsequently amended to a maximum of $5,000,000. Mabert LLC is a Texas limited liability company, owned by Director and stockholder, Kevin Jones, and his late wife Christine Early (for each and all references herein forward, “Mabert”). The loan is fully secured, Mabert having filed a UCC-1 with the State of Texas. For each Promissory Note loan made under the Loan Agreement, as a cost to each note, the Company agreed to issue warrants and/or stock for Common Stock valued at $0.01 per share on an initial one-time basis at 3.67:1 and subsequently on a 2:1 basis for each dollar borrowed.

(2) On December 20, 2017, the Company issued a convertible promissory note for $166,667, fully payable by December 20, 2019. This loan is in default for breach of payment. By its terms, the cash interest payable increased to 18% per annum on December 20, 2018 and continues at such rate until the default is cured or is paid at term. See Note 6 – Notes Payable and Convertible Notes Payable.

(3) On September 26, 2019, the Company entered into a Settlement Agreement with Southwest Capital Funding Ltd. (“Southwest”),as part of the consideration for an agreed stipulated judgement, we agreed to provide Southwest a Promissory Note in the amount of $525,000, providing for a three-year term, at 7.7% simple interest only, payable semi-annually, with interest due calculated on a 365-day year, default interest at 18%, with the principal amount due at maturity. The Company did not pay the third semi-annual interest payment when it was due in February 2021, and thus reported the note as a current liability as of December 31, 2020. In May 2021, the Company made the semi-annual interest payment (including late fees), cured the default and reclassed the note back to long-term liabilities. As of August 15, 2021, the maturity date of the note is one year and thus the Company reclassed the note to current liabilities for the period ended September 30, 2021. Since the note was issued, four semiannual payments of interest have been paid. See Note 6 – Notes Payable and Convertible Notes Payable.

(4) On March 6, 2019, the Company entered into Settlement Agreement with Wildcat Consulting Group LLC (“Wildcat”), as settlement of a consulting agreement lawsuit the Company agreed to pay Wildcat a total of $300,000, payable in sixty monthly installments of $5,000 per month beginning March 2019 and continuing each month until the settlement is paid in full.

 

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ORGANIZATION (Details Narrative)	Aug. 31, 2012
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Equity Method Investment, Ownership Percentage	100.00%

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SCHEDULE OF SUBSIDIARIES (Details)	9 Months Ended
	Sep. 30, 2021	Aug. 31, 2012
State of incorporation	TX
Ownership percentage		100.00%
Greenway Technologies, Inc [Member]
State of incorporation	TX
Relationship	Parent
Universal Media Corporation [Member]
State of incorporation	WY
Relationship	Subsidiary
Ownership percentage	100.00%
Greenway Innovative Energy, Inc. [Member]
State of incorporation	NV
Relationship	Subsidiary
Ownership percentage	100.00%
Logistix Technology Systems, Inc. [Member]
State of incorporation	TX
Relationship	Subsidiary
Ownership percentage	100.00%

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BASIS OF PRESENTATION AND GOING CONCERN UNCERTAINTIES (Details Narrative) - USD ($)	3 Months Ended						9 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Accounting Policies [Abstract]
Retained Earnings (Accumulated Deficit)	$ 34,434,680						$ 34,434,680		$ 33,021,801
Net Income (Loss) Attributable to Parent	$ 474,645	$ 473,628	$ 464,606	$ 903,545	$ 353,434	$ 562,749	1,412,879	$ 1,819,729
Net Cash Provided by (Used in) Operating Activities							$ 669,861	$ 548,633

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SCHEDULE OF COMPANY'S ASSETS AND LIABILITIES BY LEVEL MEASURED AT FAIR VALUE ON A RECURRING BASIS (Details) - Fair Value, Recurring [Member] - USD ($)	Sep. 30, 2021	Dec. 31, 2020
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value derivative liabilities
Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value derivative liabilities
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value derivative liabilities

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SCHEDULE OF CHANGE IN NOTES PAYABLE AT FAIR VALUE (Details)	9 Months Ended
	Sep. 30, 2020 USD ($)
Accounting Policies [Abstract]
Derivative liabilities, beginning balance
Change in Fair Value	(53,023)
New Convertible Notes	204,978
(Gain)/loss on Settlement	(28,916)
Conversions	(42,616)
Derivative liabilities, ending balance	$ 80,423

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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($)		3 Months Ended		9 Months Ended
	Aug. 29, 2019	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020	Aug. 31, 2012
Equity method investment, ownership percentage							100.00%
Cash equivalents		$ 0		$ 0		$ 0
FDIC insurance amount		250,000		250,000
Research and development expenses		48,000		$ 126,000
Warrant [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount				3,000,000	8,000,000
Shares Convertible For Debt [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount				2,083,333	3,616,539
Shares Outstanding But Not Yet Issued [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount				823,500	356,186
OPM Green Energy LLC [Member] | Material Definitive Agreement [Member]
Equity investment description	The Company contributed a limited license to use its proprietary and patented GTL technology for no actual cost basis in exchange for 42.86% (300 of 700 currently owned member units) revenue interest in OPMGE, expected to be later reduced to a 30% interest upon the completion of certain expected third-party investments for the remining 300 of 1,000 member units available. The Company evaluated its interest in OPMGE and determined that the Company does not control OPMGE. The Company accounts for its interest in OPMGE via the equity method of accounting. At September 30, 2021, there was no change in the investment cost of $0.
Equity method investment, ownership percentage	42.86%
Equity investment cost		0		$ 0
Equity investment related Party receivable		$ 412,885		$ 412,885

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SCHEDULE OF PROPERTY PLANT, AND EQUIPMENT (Details) - USD ($)	9 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 4,015	$ 4,015
Less accumulated depreciation	(4,015)	(4,015)
Property and equipment, net
Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment useful lives	5 years
Property and equipment, gross	$ 2,032	2,032
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Property and equipment useful lives	5 years
Property and equipment, gross	$ 1,983	$ 1,983

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PROPERTY, PLANT, AND EQUIPMENT (Details Narrative) - USD ($)	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 0	$ 0

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SCHEDULE OF NOTES PAYABLE (Details) - USD ($)		Sep. 30, 2021	Dec. 31, 2020
Short-term Debt [Line Items]
Total notes payable related parties		$ 2,737,566	$ 2,411,605
Total notes payable and convertible notes payable		846,667	886,667
Settlement Agreement [Member]
Short-term Debt [Line Items]
Total notes payable related parties		155,000	195,000
Secured Notes Payable [Member]
Short-term Debt [Line Items]
Total notes payable related parties	[1]	2,737,566	2,411,605
Unsecured Convertible Note Payable [Member]
Short-term Debt [Line Items]
Total notes payable related parties		166,667	166,667
Notes Payable, Other Payables [Member]
Short-term Debt [Line Items]
Total notes payable related parties		$ 525,000	$ 525,000

[1] On September 14, 2018, the Company entered into a loan agreement with a private company, Mabert LLC, acting as Agent for various private lenders (the “Loan Agreement”) for the purpose of funding working capital and general corporate expenses up to $1,500,000

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SCHEDULE OF NOTES PAYABLE (Details) (Parenthetical) - USD ($)						9 Months Ended		12 Months Ended
	Sep. 26, 2019	Mar. 06, 2019	Dec. 20, 2018	Sep. 14, 2018	Dec. 20, 2017	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Short-term Debt [Line Items]
Debt discount						$ 16,439		$ 13,153
Common Stock, Par or Stated Value Per Share						$ 0.0001		$ 0.0001
Common Stock, Conversion Basis				initial one-time basis at 3.67:1 and subsequently on a 2:1 basis for each dollar borrowed.
Proceeds from Convertible Debt					$ 166,667		$ 171,000
Debt Instrument, Interest Rate Terms			the cash interest payable increased to 18% per annum on December 20, 2018 and continues at such rate until the default is cured or is paid at term.
Mabert LLC [Member]
Short-term Debt [Line Items]
Working capital and general corporate expenses				$ 1,500,000
Settlement Agreement [Member]
Short-term Debt [Line Items]
Debt Instrument, Periodic Payment, Principal						$ 5,000
Debt Instrument, Frequency of Periodic Payment						60
Settlement Agreement [Member] | Southwest Capital Funding Ltd [Member]
Short-term Debt [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	7.70%
Debt discount	$ 525,000
Debt Instrument, Term	3 years
Debt Instrument, Interest Rate, Effective Percentage	18.00%
Settlement Agreement [Member] | Wildcat Consulting Group LLC [Member]
Short-term Debt [Line Items]
Debt Instrument, Periodic Payment, Principal		$ 5,000
Loss Contingency, Damages Sought, Value		$ 300,000
Amended Loan Agreement [Member] | Mabert LLC [Member]
Short-term Debt [Line Items]
Working capital and general corporate expenses				$ 5,000,000
Common Stock, Par or Stated Value Per Share				$ 0.01
Secured Notes Payable [Member]
Short-term Debt [Line Items]
Debt Instrument, Interest Rate, Stated Percentage						18.00%		18.00%
Secured Debt						$ 5,000,000		$ 5,000,000
Debt discount						$ 16,439		$ 13,153
Secured Convertible Note Payable [Member]
Short-term Debt [Line Items]
Debt Instrument, Issuance Date						Sep. 14, 2018		Sep. 14, 2018
Unsecured Convertible Note Payable [Member]
Short-term Debt [Line Items]
Debt Instrument, Interest Rate, Stated Percentage						4.50%		4.50%
Debt Instrument, Issuance Date						Dec. 20, 2017		Dec. 20, 2017
Debt Instrument, Maturity Date						Jan. 08, 2018		Jan. 08, 2018
Notes Payable, Other Payables [Member]
Short-term Debt [Line Items]
Debt Instrument, Interest Rate, Stated Percentage						7.70%		7.70%
Debt Instrument, Maturity Date						Aug. 15, 2022		Aug. 15, 2022

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CONVERTIBLE NOTES PAYABLE AND NOTES PAYABLE RELATED PARTIES (Details Narrative) - USD ($)							3 Months Ended						9 Months Ended
	Jul. 02, 2021	Apr. 02, 2021	Jan. 02, 2021	Oct. 02, 2020	Aug. 28, 2020	Jul. 02, 2020	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Short-term Debt [Line Items]
Debt discount								$ 16,439					$ 16,439		$ 13,153
Repayment of loan													100,000
Amortization of Debt Discount (Premium)													27,505	$ 195,874
Stockholder's advance															$ 142,934
Proceeds from Contributed Capital													429,249	240,859
Conversion of Stock, Amount Converted													$ 429,247	178,093
Common Stock [Member]
Short-term Debt [Line Items]
Shares issued price per share								$ 0.02					$ 0.02
Stock Issued During Period, Shares, New Issues								3,687,500	4,766,667	1,200,000	375,000	600,000
Forecast [Member]
Short-term Debt [Line Items]
Conversion of Stock, Amount Converted							$ 142,936
Mabert LLC [Member]
Short-term Debt [Line Items]
Amortization of Debt Discount (Premium)													$ 16,439	$ 26,389
Mabert LLC [Member] | Loan Agreement [Member]
Short-term Debt [Line Items]
Proceeds from Related Party Debt													2,754,005
Debt discount								$ 16,439					16,439
Debt instrument face amount								2,737,566					2,737,566
Mr Jones And His Wife [Member]
Short-term Debt [Line Items]
Proceeds from Related Party Debt								142,936					$ 2,821,586
Repayment of loan								$ 100,000
Kevin Jones [Member]
Short-term Debt [Line Items]
Debt discount						$ 9,488						$ 10,901
Debt instrument face amount						$ 128,093						$ 101,823
Debt, interest rate						18.00%						18.00%
Kevin Jones [Member] | Common Stock [Member]
Short-term Debt [Line Items]
Number of Shares to be issued												203,646
Shares issued price per share						$ 0.04						$ 0.06
Stock Issued During Period, Shares, New Issues						256,186
Ransom Jones [Member]
Short-term Debt [Line Items]
Debt discount				$ 101		$ 1,852
Debt instrument face amount				$ 3,433		$ 25,000
Debt, interest rate				10.00%		10.00%
Ransom Jones [Member] | Common Stock [Member]
Short-term Debt [Line Items]
Shares issued price per share				$ 0.02		$ 0.04
Stock Issued During Period, Shares, New Issues			285,868	6,867		50,000
Kent Harer [Member]
Short-term Debt [Line Items]
Debt discount		$ 283	$ 8,014	$ 147		$ 1,852
Debt instrument face amount		$ 5,000	$ 142,934	$ 5,000		$ 25,000
Debt, interest rate		18.00%	18.00%	10.00%		10.00%
Kent Harer [Member] | Common Stock [Member]
Short-term Debt [Line Items]
Shares issued price per share		$ 0.03	$ 0.03	$ 0.02		$ 0.04
Stock Issued During Period, Shares, New Issues		10,000		10,000		50,000
Kevin Jones A Director and Shareholder [Member]
Short-term Debt [Line Items]
Debt discount		$ 3,962		$ 2,795	$ 293
Debt instrument face amount		$ 70,000		$ 95,352	$ 10,000
Debt, interest rate		18.00%		18.00%	18.00%
Kevin Jones A Director and Shareholder [Member] | Promissory Note [Member]
Short-term Debt [Line Items]
Debt discount	$ 12,189	$ 6,343
Debt instrument face amount	$ 99,250	$ 112,064
Debt, interest rate	18.00%	18.00%
Kevin Jones A Director and Shareholder [Member] | Common Stock [Member]
Short-term Debt [Line Items]
Shares issued price per share		$ 0.03		$ 0.02	$ 0.02
Stock Issued During Period, Shares, New Issues		140,000		190,704	20,000
Kevin Jones A Director and Shareholder [Member] | Common Stock [Member] | Promissory Note [Member]
Short-term Debt [Line Items]
Shares issued price per share	$ 0.07	$ 0.03
Stock Issued During Period, Shares, New Issues	198,500	224,128											224,128

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NOTES PAYABLE AND CONVERTIBLE NOTES PAYABLE (Details Narrative) - USD ($)				9 Months Ended
	Dec. 20, 2019	Sep. 26, 2019	Dec. 20, 2018	Sep. 30, 2021	Sep. 30, 2020
Debt Instrument [Line Items]
Debt conversion, value				$ 0	$ 118,237
Southwest Capital Funding Ltd [Member] | Settlement Agreement [Member]
Debt Instrument [Line Items]
Debt stated interest rate		7.70%
Debt Instrument, Term		3 years
Debt Instrument, Interest Rate, Effective Percentage		18.00%
Southwest Capital Funding Ltd [Member] | Settlement Agreement [Member] | Restricted Stock [Member]
Debt Instrument [Line Items]
Stock Issued During Period, Shares, New Issues				1,000,000
Shares Issued, Price Per Share				$ 0.05
Convertible Promissory Note [Member]
Debt Instrument [Line Items]
Debt instrument monthly payment	$ 80,000		$ 86,667
Debt conversion price				$ 0.08
Debt conversion, shares issued	1,000,000		1,083,333	2,083,325
Debt conversion, value	$ 80,000		$ 86,667
Debt conversion description				The discount related to the beneficial conversion feature on the note was valued at $27,083 based on the $0.013 difference between the market price of $0.093 and the conversion price of $0.08 times the 2,083,325 conversion shares.
Debt instrument related to beneficial conversion feature				$ 27,083
Market price				$ 0.093
Convertible Promissory Note [Member] | Tunstall Canyon Group L L C [Member]
Debt Instrument [Line Items]
Debt instrument face amount			$ 166,667
Debt stated interest rate			4.50%
Settlement Agreement [Member] | Southwest Capital Funding Ltd [Member]
Debt Instrument [Line Items]
Debt instrument face amount		$ 525,000
Debt stated interest rate		7.70%
Debt Instrument, Interest Rate, Effective Percentage		18.00%
Debt Instrument, Maturity Date		Aug. 15, 2022

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CAPITAL STRUCTURE (Details Narrative) - USD ($)		3 Months Ended						12 Months Ended
	Jul. 02, 2020	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2020
Subsidiary, Sale of Stock [Line Items]
Common Stock, Shares Authorized		500,000,000						500,000,000
Common Stock, Par or Stated Value Per Share		$ 0.0001						$ 0.0001
Common stock, shares outstanding		346,602,500						335,268,075
Stock issued during period, restricted stock, shares		3,911,628	6,222,797			904,711
Number of loan conversion shares						529,711
Common stock, shares issued								335,268,075
Warrant [Member]
Subsidiary, Sale of Stock [Line Items]
Number of warrants expired								4,000,000
Common Stock [Member]
Subsidiary, Sale of Stock [Line Items]
Stock issued during period, restricted stock, shares		4,823,768
Shares issued price per share		$ 0.02
Stock Issued During Period, Shares, New Issues		3,687,500	4,766,667	1,200,000		375,000	600,000
Number of loan conversion shares					4,823,768		3,906,610
Convertible Warrant [Member]
Subsidiary, Sale of Stock [Line Items]
Shares issued price per share						$ 0.06	$ 0.01
Number of loan conversion shares							857,737
Restricted Common Stock [Member]
Subsidiary, Sale of Stock [Line Items]
Stock issued during period, restricted stock, shares							13,824,607
Promissory Notes [Member]
Subsidiary, Sale of Stock [Line Items]
Shares issued price per share			$ 0.05				$ 0.085
Stock Issued During Period, Shares, New Issues			973,630
Number of loan conversion shares							1,460,260
Kevin Jones [Member] | Common Stock [Member]
Subsidiary, Sale of Stock [Line Items]
Shares issued price per share	$ 0.04						$ 0.06
Number of Shares to be issued							203,646
Stock Issued During Period, Shares, New Issues	256,186
Kevin Jones [Member] | Promissory Notes [Member]
Subsidiary, Sale of Stock [Line Items]
Number of Shares to be issued		198,500
Dean Goekel [Member] | Warrant [Member]
Subsidiary, Sale of Stock [Line Items]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights		1,000,000
Dean Goekel [Member] | Warrant [Member] | June 2022 [Member]
Subsidiary, Sale of Stock [Line Items]
Warrants outstanding		3,000,000						7,000,000
Warrants exercise price		$ 0.03
Five Accredited Investor [Member] | Private Placement [Member]
Subsidiary, Sale of Stock [Line Items]
Stock issued during period, restricted stock, shares		3,687,500	4,766,667
Shares issued price per share		$ 0.05	$ 0.04
Stock Issued During Period, Value, Restricted Stock Award, Gross		$ 182,500	$ 173,000
Shares To Be Issued For Consulting Fees		224,128	482,500
Consulting Fees Price Per Share		$ 0.03	$ 0.03
One Accredited Investor [Member] | Private Placement [Member]
Subsidiary, Sale of Stock [Line Items]
Number of Shares to be issued		625,000
Accredited investor [Member]
Subsidiary, Sale of Stock [Line Items]
Stock issued during period, restricted stock, shares							600,000
Shares issued price per share							$ 0.10
Number of loan conversion shares							3,906,610
Loan conversion of price per share							$ 0.047
Accredited investor [Member] | Private Placement [Member]
Subsidiary, Sale of Stock [Line Items]
Stock issued during period, restricted stock, shares				1,200,000		375,000
Shares issued price per share				$ 0.03		$ 0.04
Stock Issued During Period, Value, Restricted Stock Award, Gross				$ 36,000

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RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)		9 Months Ended
	Sep. 14, 2018	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Related Party Transaction [Line Items]
Amortization of Debt Discount (Premium)		$ 27,505	$ 195,874
Notes Payable		846,667		$ 886,667
Due to Related Parties				142,934
Kevin Jones [Member]
Related Party Transaction [Line Items]
Proceeds from Related Party Debt		142,936	95,352
Ransom Jones and Kent Harer [Member]
Related Party Transaction [Line Items]
Proceeds from Related Party Debt			113,785
Michael Wykrent [Member]
Related Party Transaction [Line Items]
Proceeds from Related Party Debt			10,000
Ransom Jones [Member]
Related Party Transaction [Line Items]
Proceeds from Related Party Debt			3,433
Kent Harer [Member]
Related Party Transaction [Line Items]
Proceeds from Related Party Debt			5,000
Mabert LLC Loan Agreement [Member]
Related Party Transaction [Line Items]
Proceeds from Related Party Debt		2,754,005
Amortization of Debt Discount (Premium)		16,439
Mabert LLC [Member]
Related Party Transaction [Line Items]
Working capital and general corporate expenses	$ 1,500,000
Amortization of Debt Discount (Premium)		16,439	$ 26,389
Mabert LLC [Member] | Amended Loan Agreement [Member]
Related Party Transaction [Line Items]
Working capital and general corporate expenses	$ 5,000,000
Eight Shareholders Including Mr Jones [Member] | Mabert LLC Loan Agreement [Member]
Related Party Transaction [Line Items]
Interest Payable		911,062
Kevin Jones His Late Wife His Company And Six Other Shareholders [Member]
Related Party Transaction [Line Items]
Notes Payable		2,678,651
Two Current Executives Two Former Executive And One Curren tEmployee [Member]
Related Party Transaction [Line Items]
Deferred compensation expenses		2,006,902
OPM Green Energy LLC [Member]
Related Party Transaction [Line Items]
Due to Related Parties		$ 412,885		$ 412,885
Related Party Transaction, Description of Transaction		As reported previously, the Company owns a non-consolidating 42.86% interest in the OPMGE GTL plant located in Wharton, Texas. In the event of default, the Company holds a second lien against the assets of OPMGE.

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COMMITMENTS AND CONTINGENCIES (Details Narrative)					1 Months Ended			3 Months Ended			9 Months Ended	12 Months Ended
	Oct. 19, 2019 USD ($)	Apr. 01, 2019 USD ($) $ / shares shares	May 10, 2018 USD ($) $ / shares shares	Feb. 06, 2018 USD ($) shares	Feb. 29, 2020 USD ($) $ / shares	Sep. 30, 2014 USD ($)	Aug. 31, 2012 USD ($) shares	Sep. 30, 2021 USD ($) ft² $ / shares shares	Jun. 30, 2021 shares	Jun. 30, 2020 shares	Sep. 30, 2021 USD ($) ft² $ / shares	Dec. 31, 2019 USD ($)	Dec. 31, 2020 USD ($) $ / shares
Loss Contingencies [Line Items]
Common Stock, Par or Stated Value Per Share | $ / shares								$ 0.0001			$ 0.0001		$ 0.0001
Number of restricted common stock | shares								3,911,628	6,222,797	904,711
Accrued management fees								$ 1,301,964			$ 1,301,964		$ 1,301,964
Loss Contingency, Damages Paid, Value	$ 90,378
Capital expenditures											$ 126,000
Original 2012 Acquisition Agreement [Member] | Greer Family Trust [Member]
Loss Contingencies [Line Items]
Number of common stock for acquisition | shares				3,750,000
Office Space [Member]
Loss Contingencies [Line Items]
Area of square feet | ft²								600			600
Base rate per month											$ 949
Annual maintenance fees											11,880
Employment Agreement [Member]
Loss Contingencies [Line Items]
Common Stock, Par or Stated Value Per Share | $ / shares		$ 0.0001
Employment Agreement [Member] | Greenway Innovative Energy Inc [Member] | Greer Family Trust [Member]
Loss Contingencies [Line Items]
Number of restricted common stock | shares				3,000,000
Employment Agreement [Member] | Ray Wright [Member]
Loss Contingencies [Line Items]
Compensation cost						$ 180,000	$ 90,000	$ 45,000
Employment Agreement [Member] | Ransom Jones [Member]
Loss Contingencies [Line Items]
Accrued salary			$ 120,000
Number of shares, granted | shares			250,000
Common Stock, Par or Stated Value Per Share | $ / shares			$ 0.0001
Employment Agreement [Member] | Ransom Jones [Member] | Minimum [Member]
Loss Contingencies [Line Items]
Bonus amount			$ 35,000
Employment Agreement [Member] | Ryan Turner [Member]
Loss Contingencies [Line Items]
Compensation cost		$ 80,000			$ 150,000
Number of restricted common stock | shares		2,500,000
Shares Issued, Price Per Share | $ / shares					$ 0.06
Acquisition Agreement [Member] | Greenway Innovative Energy Inc [Member]
Loss Contingencies [Line Items]
Number of restricted common stock | shares							7,500,000
Production of fuels per day, description							producing 2,000 barrels of diesel or jet fuel per day
Percentage of royalty on gross production sales							2.00%
Settlement Agreement [Member] | Greenway Innovative Energy Inc [Member] | Greer Family Trust [Member]
Loss Contingencies [Line Items]
Number of restricted common stock | shares				3,750,000
Percentage of royalty on gross production sales				2.00%
Settlement Agreement [Member] | Greenway Innovative Energy Inc [Member] | Greer Family Trust [Member] | Promissory Notes [Member]
Loss Contingencies [Line Items]
Debt instrument face amount				$ 150,000
Separation Agreements [Member] | Richard Halden And Randy Moseley [Member]
Loss Contingencies [Line Items]
Accrued management fees								$ 1,301,964			$ 1,301,964
Sponsored Research Agreement [Member]
Loss Contingencies [Line Items]
Capital expenditures												$ 120,000
Capital expenditure, description												The term of the agreement is through February 15, 2022. The first payment under the SRA was made in March 2021 for $30,000. Going forward on the 15th of each month we will pay UTA $15,454.54 through February 15, 2022, for a total commitment of $200,000. For the nine-months ended September 30, 2021, we have paid UTA a total of $126,000.

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SUBSEQUENT EVENTS (Details Narrative) - Subsequent Event [Member] - Private Placement [Member] - Three Accredited Investors [Member]	2 Months Ended
	Nov. 15, 2021 $ / shares shares
Subsequent Event [Line Items]
Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures | shares	2,291,667
Shares Issued, Price Per Share | $ / shares	$ 0.03