SUBSEQUENT EVENTS

12 Months Ended

Dec. 31, 2023

Subsequent Events [Abstract]

SUBSEQUENT EVENTS

NOTE 14. SUBSEQUENT EVENTS

The Company had evaluated subsequent events through October 15, 2024, when these financial statements were available to be issued.

On January 4, 2024, for extraordinary services rendered to the Company, and in consideration for a loan (Susan E. Eaglstein, a related party), the Board issued shares of Series B Preferred Stock to the following officers’, directors’, consultant, and lender at a value of $1.41 per share:

Name	Share Amount		Value
Mitchell M Eaglstein		150,000	$	211,500
Imran Firoz		150,000	$	211,500
FRH Group Corporation		50,000	$	70,500
William B. Barnett		10,000	$	14,100
Susan E. Eaglstein		10,000	$	14,100
Gope S. Kundnani		50,000	$	70,500
Total		420,000	$	592,200

On January 30, 2024, per subscription agreements and in consideration for cash, the Company agreed to issue shares of Series B Preferred Stock to the following related party at a value of $1.41 per share:

Name	Share Amount		Value
Gope S. Kundnani		70,922	$	100,000
Gope S. Kundnani		70,922	$	100,000
Total		141,844	$	200,000

On January 25, 2024, the Company received $100,000 for one subscription of 70,922 Series B Stock.

On January 26, 2024, the Company paid $100,000 to AJB Capital as part of the second repayment where the Company redeemed all the AJB Warrants and settled any outstanding liability associated with the AJB Note.

On January 30, 2024, the Board of Directors adopts and approves the rescission and cancellation of (i) 1,000,000 shares of Series A Preferred Stock of the Company issued to Mitchell M. Eaglstein and (ii) 1,000,000 shares of Series A Preferred Stock of the Company issued to Felix R. Hong.

NOTE 14. SUBSEQUENT EVENTS (continued)

On February 21, 2024, our Board unanimously approved the Corporate Actions. In order to eliminate the costs and management time involved in holding a special meeting and in order to effect the actions disclosed herein as quickly as possible in order to accomplish the purposes of our Company, we chose to obtain the written consent of a majority of the Company’s voting power to approve the actions described in this Information Statement in accordance with Sections 228 and 242 of the Delaware General Corporation Law (the “DGCL”) and our bylaws. On February 21, 2024, the Approving Stockholders approved, by written consent, the Corporate Actions. The Approving Stockholders (common stock only) own 280,102,413 shares, representing 72% of the total issued and outstanding voting power of the Company.

On March 12, 2024, the Company filed the Information Statement pursuant to Section 14C of the Securities Exchange Act of 1934 and informed all holders of record on February 21, 2024 (the “Record Date”) of the common stock, $0.0001 par value per share (the “Common Stock”), of the Company, in connection with the approval of the following actions taken by the Board of Directors of the Company (the “Board”) and by written consent of the holders of a majority of the voting power of Company’s issued and outstanding capital stock (the “Approving Stockholders”):

4. To amend our certificate of incorporation, as amended (the “Certificate”), to increase the number of authorized shares of common stock from 500,000,000 to 1,000,000,000 (the “Authorized Share Increase”), and

5. To authorize our Board of Directors, in its discretion, to amend our articles of incorporation not later than June 30, 2024, to effect a Reverse Stock Split of all outstanding shares of our common stock in a ratio of not less than 1 for 10 and not more than 1 for 50, to be determined by the Board of Directors, and

6. To approve the Company’s 2023 Stock Incentive Plan (the “2023 Stock Incentive Plan”)

In March 2024, the Company established a wholly owned subsidiary, Alchemytech Ltd, a Cyprus company, to provide technology and other services to the European market. The Company extended the Limassol, Cyprus Lease, Europe (Ecastica) lease to April 2025.

In April 2024, the Company terminated the letter of intent to acquire a community bank in Iowa. As part of the termination, the Company shall pay the community bank a sum of $100,000 in six equal installments of $15,000 and one final payment of $10,000 from April 2024 to November 2024.

In May 2024, Mitchell M. Eaglstein, CEO, was appointed as the CEO of Alchemy Markets Ltd. (AML) to oversee operations in Malta.