10-K/A

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-K/A

Amendment No. 1

[X] ANNUAL REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended December 31, 2019

[  ] TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT

For the transition period from _____________ to _____________

Commission file number 001-13126

FOMO CORP.

(Exact name of small business issuer as specified in its charter)

California	83-3889101
(State or other jurisdiction of incorporation)	(IRS Employer Identification No.)

1 E Erie St, Ste 525 Unit #2250, Chicago, IL 60611

(Address of principal executive offices) (Zip Code)

(630) 286-9560

(Issuer’s telephone number)

Securities registered under Section 12(b) of the Exchange Act: None.

Securities registered under Section 12(g) of the Exchange Act: Common Stock, no par value

Indicate by check mark if registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes [  ] No [X]

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes [  ] No [X]

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes [X] No [  ]

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes [X] No [  ]

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K (§229.405 of this chapter) is not contained herein, and will not be contained, to the best of registrant’s knowledge, in the definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. [  ]

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes [  ] No [X]

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, non-accelerated filer or a small. See definition of “large accelerated filer, accelerated filer and smaller reporting company” in Rule 12b-2 of the Exchange Act. (Check one):

The Aggregate market value of the Company’s common shares issued and outstanding as of December 4, 2020, was $7,032,815. The Aggregate market value of the voting and non-voting common equity held by non-affiliates computed by reference to the price at which the common equity was last sold, or the average bid and asked price of such common equity, as of the last business day of the registrant’s most recently completed second fiscal quarter, June 30, 2020, was $427,210.

Large accelerated filer	[  ]	Accelerated filer	[  ]
Non-accelerated filer	[  ]	Smaller reporting company	[X]
(Do not check if a 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. [  ]

As of December 4, 2020, there were 4,668,543,121 shares of Common Stock, no par value, outstanding.

Documents Incorporated by Reference. None

EXPLANATORY NOTE

The sole purpose of this Amendment No. 1 to the Annual Report on Form 10-K for the period ended December 31, 2019 of FOMO CORP. (the “Company”) filed with the Securities and Exchange Commission on December 07, 2020 (the “Form 10-K”) is to furnish Exhibits 101 to the Form 10-K in accordance with Rule 405 of Regulation S-T.

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

PART IV

Item 15. Exhibits; Financial Statement Schedules.

Exhibit No.	Description
2.1*	Plan and Agreement of Reorganization dated as of January 30, 2014, among the Company, 2050 Motors and the 2050 Motors Shareholders.
3.1**	Articles of Incorporation
3.2**	Articles of Amendment
3.3***	Amended and Restated By-laws December 16, 2019
10.1**	Convertible Note Between the Company and Auctus Fund LLC dated January 6, 2017
10.2**	Convertible Note Between the Company and JSJ Investments dated April 25, 2017
10.3***	Convertible Note and Warrant Agreement Between the Company and Crown Bridge Partners LLC September 15, 2017
10.4**	Convertible Note Between the Company and LG Capital Funding, LLC dated November 14, 2017
10.5**	Convertible Note Between the Company and PowerUp Lending Group Ltd. dated January 24, 2018
10.6**	Convertible Note Between the Company and PowerUp Lending Group Ltd. dated February 22, 2018
10.7**	Convertible Note Between the Company and PowerUp Lending Group Ltd. dated April 11, 2018
10.8**	Convertible Note Between the Company and PowerUp Lending Group Ltd. dated April 27, 2018.
10.9**	Convertible Note Between the Company and Jabro Funding Corp. dated July 23, 2018
10.10**	Convertible Note Between the Company and Jabro Funding Corp. dated October 1, 2018
10.11**	Convertible Note Between the Company and PowerUp Lending Group Ltd. dated November 1, 2018
10.12***	Convertible Note Between the Company and PowerUp Lending Group Ltd. dated March 8, 2019
10.13***	Convertible Note Between the Company and Tri-Bridge Ventures LLC dated March 15, 2019
10.14***	Convertible Note Between the Company and PowerUp Lending Group Ltd. dated July 9, 2019
10.15***	Convertible Note Between the Company and GS Capital Partners LLC dated September 6, 2019
10.16***	Convertible Note Between the Company and GS Capital Partners LLC dated November 12, 2019
10.17***	Convertible Note Between the Company and PowerUp Lending Group Ltd. dated November 14, 2019
10.18***	Convertible Note Between the Company and Auctus Fund LLC dated October 28, 2020
10.19***	Definitive Acquisition Agreement Between the Company and Purge Virus, LLC September 29, 2020
10.20***	FOMO CORP. – Purge Virus, LLC Reps and Warranties October 18, 2020
31.1****	Certification of Principal Executive Officer pursuant to Rule 13a-14 and Rule 15d 14(a), promulgated under the Securities and Exchange Act of 1934, as Amended.
31.2****	Certification of Principal Financial Officer pursuant to Rule 13a-14 and Rule 15d 14(a), promulgated under the Securities and Exchange Act of 1934, as Amended.
32.1****	Certification of Principal Executive Officer and Principal Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

*	Incorporated by reference to the Company’s Form 8-K as filed with the SEC on February 5, 2014.
**	Incorporated by reference to the Company’s Registration Statement on Form 10’s as filed with the SEC on October 30, 2012 and July 19, 2019.
***	Previously filed.
****	Filed Herewith.

101.INS	XBRL Instance Document
101.SCH	XBRL Taxonomy Extension Schema Document
101.CAL	XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF	XBRL Taxonomy Extension Definition Linkbase Document
101.LAB	XBRL Taxonomy Extension Label Linkbase Document
101.PRE	XBRL Taxonomy Extension Presentation Linkbase Document

SIGNATURES

In accordance with the Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized on the 8^th day of December 2020.

FOMO CORP.
By:	/s/ Vikram Grover
	Vikram Grover, President (Principal Executive Officer)

EXHIBIT INDEX

Exhibit No.	Description
2.1*	Plan and Agreement of Reorganization dated as of January 30, 2014, among the Company, 2050 Motors and the 2050 Motors Shareholders.
3.1**	Articles of Incorporation
3.2**	Articles of Amendment
3.3***	Amended and Restated By-laws December 16, 2019
10.1**	Convertible Note Between the Company and Auctus Fund LLC dated January 6, 2017
10.2**	Convertible Note Between the Company and JSJ Investments dated April 25, 2017
10.3***	Convertible Note and Warrant Agreement Between the Company and Crown Bridge Partners LLC September 15, 2017
10.4**	Convertible Note Between the Company and LG Capital Funding, LLC dated November 14, 2017
10.5**	Convertible Note Between the Company and PowerUp Lending Group Ltd. dated January 24, 2018
10.6**	Convertible Note Between the Company and PowerUp Lending Group Ltd. dated February 22, 2018
10.7**	Convertible Note Between the Company and PowerUp Lending Group Ltd. dated April 11, 2018
10.8**	Convertible Note Between the Company and PowerUp Lending Group Ltd. dated April 27, 2018.
10.9**	Convertible Note Between the Company and Jabro Funding Corp. dated July 23, 2018
10.10**	Convertible Note Between the Company and Jabro Funding Corp. dated October 1, 2018
10.11**	Convertible Note Between the Company and PowerUp Lending Group Ltd. dated November 1, 2018
10.12***	Convertible Note Between the Company and PowerUp Lending Group Ltd. dated March 8, 2019
10.13***	Convertible Note Between the Company and Tri-Bridge Ventures LLC dated March 15, 2019
10.14***	Convertible Note Between the Company and PowerUp Lending Group Ltd. dated July 9, 2019
10.15***	Convertible Note Between the Company and GS Capital Partners LLC dated September 6, 2019
10.16***	Convertible Note Between the Company and GS Capital Partners LLC dated November 12, 2019
10.17***	Convertible Note Between the Company and PowerUp Lending Group Ltd. dated November 14, 2019
10.18***	Convertible Note Between the Company and Auctus Fund LLC dated October 28, 2020
10.19***	Definitive Acquisition Agreement Between the Company and Purge Virus, LLC September 29, 2020
10.20***	FOMO CORP. – Purge Virus, LLC Reps and Warranties October 18, 2020
31.1****	Certification of Principal Executive Officer pursuant to Rule 13a-14 and Rule 15d 14(a), promulgated under the Securities and Exchange Act of 1934, as Amended.
31.2****	Certification of Principal Financial Officer pursuant to Rule 13a-14 and Rule 15d 14(a), promulgated under the Securities and Exchange Act of 1934, as Amended.
32.1****	Certification of Principal Executive Officer and Principal Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

*	Incorporated by reference to the Company’s Form 8-K as filed with the SEC on February 5, 2014.
**	Incorporated by reference to the Company’s Registration Statement on Form 10’s as filed with the SEC on October 30, 2012 and July 19, 2019.
***	Previously filed.
****	Filed Herewith.

101.INS	XBRL Instance Document
101.SCH	XBRL Taxonomy Extension Schema Document
101.CAL	XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF	XBRL Taxonomy Extension Definition Linkbase Document
101.LAB	XBRL Taxonomy Extension Label Linkbase Document
101.PRE	XBRL Taxonomy Extension Presentation Linkbase Document

EX-31.1

EXHIBIT 31.1

CERTIFICATION

I, Vikram Grover, certify that:

1.	I have reviewed this report on Form 10-K/A of FOMO CORP.;
2.	Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by 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 presented in this report;
4.	The registrant’s other certifying officer 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)) 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.
5.	The registrant’s other certifying officer 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 registrant’s board of directors (or persons performing the equivalent functions):
	a.	all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
	b.	any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

/s/ Vikram Grover

Vikram Grover

President (Principal Executive Officer)

December 8, 2020

EX-31.2

EXHIBIT 31.2

CERTIFICATION

I, Vikram Grover, certify that:

1.	I have reviewed this report on Form 10-K/A of FOMO CORP.;
2.	Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by 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 presented in this report;
4.	The registrant’s other certifying officer 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)) 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.

5. The registrant’s other certifying officer 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 registrant’s board of directors (or persons performing the equivalent functions):

a.	all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
b.	any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

/s/ Vikram Grover

Vikram Grover

Chief Financial Officer

December 8, 2020

EX-32.1

EXHIBIT 32.1

CERTIFICATION 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 report of FOMO CORP. (the “Company”) on Form 10-K/A for the period ending December 31, 2019 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), each of the undersigned, in the capacities and on the dates indicated below, hereby certifies, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that to his knowledge:

(1)	The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and
(2)	The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

/s/ Vikram Grover

Vikram Grover

President (Principal Executive Officer)

December 8, 2020

/s/ Vikram Grover

Vikram Grover

Chief Financial Officer

December 8, 2020

XML

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 04, 2020	Jun. 30, 2020
Document And Entity Information
Entity Registrant Name	FOMO CORP.
Entity Central Index Key	0000867028
Document Type	10-K/A
Document Period End Date	Dec. 31, 2019
Amendment Flag	true
Amendment Description	Amendment No.1
Current Fiscal Year End Date	--12-31
Entity Well-Known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business Flag	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Public Float			$ 427,210
Entity Common Stock, Shares Outstanding		4,668,543,121
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2019

XML

Balance Sheets - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Current assets
Cash	$ 63	$ 1
Total current assets	63	1
Other assets:
Investments	189,000
Total assets	189,063	1
Current liabilities
Accounts payable	5,500	22,049
Tax payable		2,864
Accrued expenses	62,510	626,299
Accrued interest on loans payable		49,740
Loans payable due to non-related parties, net	187,798	250,019
Loan settlement	260,000
Deposits	21,947	21,947
Derivative liability	893,171	876,058
Total current liabilities	1,430,926	1,848,976
Total liabilities	1,430,926	1,848,976
Stockholders' deficit
Common stock; no par value authorized: 3,000,000,000 shares at December 31, 2019 and December 31, 2018, respectively: issued and outstanding 1,777,195,805 and 623,964,114 at December 31, 2019 and 2018, respectively	3,800,405	3,405,360
Additional paid-in-capital	858,218	536,356
Accumulated deficit	(6,025,926)	(5,960,691)
Common stock issuable	125,000	125,000
Total stockholders' deficit	(1,241,863)	(1,848,975)
Total liabilities and stockholders' deficit	189,063	1
Preferred Class A [Member]
Stockholders' deficit
Preferred stock, value	300	45,000
Preferred Class B [Member]
Stockholders' deficit
Preferred stock, value	40
Preferred Class C [Member]
Stockholders' deficit
Preferred stock, value	$ 100

XML

Balance Sheets (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Common stock, no par value
Common stock, shares authorized	3,000,000,000	3,000,000,000
Common stock, shares issued	1,777,195,805	623,964,114
Common stock, shares outstanding	1,777,195,805	623,964,114
Preferred Class A [Member]
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	3,000,000	3,000,000
Preferred stock, shares issued	3,000,000	3,000,000
Preferred stock, shares outstanding	3,000,000	3,000,000
Preferred stock, dividend per share	$ 0.0034	$ 0.0034
Preferred Class B [Member]
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	6,000,000	6,000,000
Preferred stock, shares issued	400,000	0
Preferred stock, shares outstanding	400,000	0
Preferred stock, dividend	1.00%	1.00%
Preferred Class C [Member]
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	1,000,000	1,000,000
Preferred stock, shares issued	1,000,000	0
Preferred stock, shares outstanding	1,000,000	0
Preferred stock, dividend	1.00%	1.00%

XML

Statement of Operations - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Income Statement [Abstract]
Operating revenue
Operating expenses:
Impairment loss		74,405
General and administrative	212,708	217,236
Total operating expenses	212,708	291,641
Loss from operations	(212,708)	(291,641)
Other income (expenses)
Interest expense	(18,032)	(1,160,030)
Amortization of discount	(100,299)	(158,635)
Loss on investment	(247,220)
Gain on sale of equipment		1,000
Debt conversion gain (loss)		(149,980)
Debt settlement gain (loss)	582,600	(31,458)
Derivative liability gain (loss)	(69,576)	(110,699)
Total other income (expenses)	147,473	(1,609,802)
Loss before income taxes	(65,235)	(1,901,443)
Provision for income taxes
Net loss	$ (65,235)	$ (1,901,443)
Net loss per share, basic and diluted	$ (0.00)	$ (0.01)
Weighted average common equivalent share outstanding, basic and diluted	1,127,890,040	283,348,503

XML

Statement of Stockholders' Deficit - USD ($)	Common Stock [Member]	Common Stock Issuable [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]	Preferred Stock Class A [Member]	Preferred Stock Class B [Member]	Preferred Stock Class C [Member]	Total
Beginning balance at Dec. 31, 2017	$ 2,474,146	$ 140,000	$ 94,650	$ (4,059,248)				$ (1,350,452)
Beginning balance, shares at Dec. 31, 2017	47,860,512
Conversion of convertible debt	$ 685,938		503,356					1,189,294
Conversion of convertible debt, shares	391,238,673
Conversion of related party loc	$ 127,239							127,239
Conversion of related party loc, shares	77,347,701
Conversion of related party loans	$ 95,537							95,537
Conversion of related party loans, shares	97,410,115
Common stock issued for subscription	$ 15,000	(15,000)
Common stock issued for subscription, shares	6,000,000
Shares issued for services	$ 12,500				$ 45,000			57,500
Shares issued for services, shares	5,000,000				3,000,000
Deferred issuance costs			(18,750)					(18,750)
Warrant reclassification			(42,900)					(42,900)
Cancellation of debt conversions	$ (5,000)							(5,000)
Cancellation of debt conversions, shares	(892,857)
Net loss				(1,901,443)				(1,901,443)
Ending balance at Dec. 31, 2018	$ 3,405,360	125,000	536,356	(5,960,691)	$ 45,000			(1,848,975)
Ending balance, shares at Dec. 31, 2018	623,964,144				3,000,000
Conversion of convertible debt	$ 395,045		(163,601)					231,444
Conversion of convertible debt, shares	1,153,231,661
Preferred Stock no par returned					$ (45,000)			(45,000)
Preferred Stock no par returned, shares					(3,000,000)
Preferred CL A Stock issued for investment			44,700		$ 300			45,000
Preferred CL A Stock issued for investment, shares					3,000,000
Preferred CL B Stock issued for investment			423,960			$ 40		424,000
Preferred CL B Stock issued for investment, shares						400,000
Preferred CL C Stock issued for investment							$ 100	100
Preferred CL C Stock issued for investment, shares							1,000,000
Warrants issued for services			16,803					16,803
Warrants issued for services, shares
Net loss				(65,235)				(65,235)
Ending balance at Dec. 31, 2019	$ 3,800,405	$ 125,000	$ 858,218	$ (6,025,926)	$ 300	$ 40	$ 100	$ (1,241,863)
Ending balance, shares at Dec. 31, 2019	1,777,195,805				3,000,000	400,000	1,000,000

XML

Statement of Stockholders' Deficit (Parenthetical) - $ / shares	Dec. 31, 2019	Dec. 31, 2018
Preferred Stock Class A [Member]
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred Stock Class B [Member]
Preferred stock, par value	0.0001	0.0001
Preferred Stock Class C [Member]
Preferred stock, par value	$ 0.0001	$ 0.0001

XML

Statement of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Cash flows provided by (used for) operating activities:
Net loss	$ (65,235)	$ (1,901,443)
Adjustments to reconcile net loss to net cash provided by (used for) operating activities:
Depreciation		31,676
Amortization of debt discount	244,085	139,885
Amortization of deferred finance costs		18,750
Issuance of common stock and warrants for services	16,703	57,500
Impairment loss	247,220	74,405
Loss on debt conversions		149,980
Loss (gain) on debt settlement	(582,600)	31,458
Derivative liability adjustment	637,931	349,282
Increase (decrease) in assets and liabilities:
Deposits		2,200
Accounts payable	(580,338)	(20,768)
Income tax payable	(2,864)	(800)
Accrued expenses	21,210	901,870
Advances		21,947
Accrued interest on loans payable	(49,740)	23,227
Net cash used for operating activities	(113,628)	(120,831)
Cash flows provided by (used for) Financing activities
Payments made on related party advances		(32,500)
Proceeds from non-related loans	113,690	161,700
Payments made on non-related loans		(8,867)
Net cash provied by (used for) financing activities	113,690	120,333
Net (decrease) increase in cash	62	(498)
Cash, beginning of period	1	499
Cash, end of period	63	1
Supplemental disclosure of cash flow information
Common stock issued for debt	249,484	1,412,070
Debt discount from convertible loan		18,750
Amortization of deferred finance cost from non-cash transactions		$ 158,635

XML

Basis of Presentation and Organization

12 Months Ended

Dec. 31, 2019

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Basis of Presentation and Organization

Note 1 – BASIS OF PRESENTATION AND ORGANIZATION

FOMO CORP. previously known as “2050 Motors, Inc.” (“the Company”) is the successor to an entity incorporated on April 22, 1986 in the state of California. 2050 Motors, Inc., the Company’s sole operating subsidiary, was incorporated on October 9, 2012 in the state of Nevada to import, market, and sell electric cars manufactured in China. On May 2, 2014, that entity sold its business, operations and assets to the Company, whose sole business at the time was to identify, evaluate, and investigate various companies to acquire or with which to merge. Upon consummation of the acquisition of 2050 Motors, Inc., the Company’s sole business became the business of the Company, and the public Company renamed itself “2050 Motors, Inc.” Today, our principal business objective is to achieve long-term growth through investments in minority and majority-owned businesses (see subsequent events).

On October 25, 2012, 2050 Motors, Inc. entered into an agreement with Jiangsu Aoxin New Energy Automobile Co., Ltd., (“Aoxin”), located in Jiangsu, China, for the distribution in the United States of a new electric automobile, known as the “e-Go”. This Agreement was amended in 2017 to exclude certain markets in Central America and South America. In 2019, management dissolved the Company’s Nevada subsidiary as the Aoxin agreement and related EV strategies had failed. Meanwhile, the Company incubated an Internet business targeting the Cannabis market @ www.kanab.club and pursued various ventures in the Internet, communications, and ESG markets. See SUBSEQUENT EVENTS for further information on corporate developments post-2019.

Corporate Actions and Related

On March 6, 2019, William Fowler resigned as our President, Chief Executive Officer, Chief Financial Officer and Director. His resignation was not due to any matter relating to our operations, policies, or practices. On March 6, 2019, pursuant to a Special Board of Directors Meeting, our Board of Directors accepted his resignation.

On March 6, 2019, Bernd Schaefers resigned as our Secretary and Director. His resignation was not due to any matter relating to our operations, policies, or practices. On March 6, 2019, pursuant to a Special Board of Directors Meeting, our Board of Directors accepted his resignation.

On March 6, 2019, Vikram Grover was appointed our President, Chief Executive Officer, Chief Financial Officer, Secretary and Director. Mr. Grover’s compensation consists of $12,500 per month, of which $5,000 is payable in cash while the Company is delinquent in its SEC filings and the balance to be accrued and payable in cash or stock on December 31 of each calendar year. Upon bringing the Company current with its SEC filings, Mr. Grover will be compensated $12,500 per month, of which $7,500 is payable in cash and $5,000 will be accrued and payable in cash or stock on December 31 of each calendar year. Additionally, upon bringing the Company current with its SEC filings, Mr. Grover was to be issued 100 million common stock purchase warrants with a $0.001 exercise price and a three-year expiration. If the Company’s common stock closed over $0.01 for 10 consecutive trading sessions, Mr. Grover was to be issued an additional 100 million common stock purchase warrants with a $0.001 strike price and a three-year expiration. Subsequently, Mr. Grover waived his rights to these options.

On April 4, 2019, we removed all Officers and/or Directors of our wholly owned subsidiary, 2050 Motors, Inc., a Nevada corporation (“2050 Private”); thereafter, 2050 Private appointed our Chief Executive Officer, Vikram Grover, as 2050 Private’s President and Sole Director.

On May 14, 2019, we dissolved our 2050 Motors, Inc. Nevada subsidiary and terminated all discussions and contractual relationships with Aoxin Automobile.

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Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2019

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Note 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

The accompanying financial statements were prepared in conformity with generally accepted accounting principles in the United States of America (“US GAAP”).

Use of Estimates

The preparation of financial statements in conformity with US GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates include accounts payable, the recoverability of long-term assets, and the valuation of derivative liabilities.

Consolidation

The consolidated financial statements of the Company include the Company and its wholly owned subsidiary, 2050 Motors, Inc. All material intercompany balances and transactions have been eliminated in consolidation.

Cash

Cash consists of deposits in one large national bank. On December 31, 2019 and December 31, 2018, respectively, the Company had $63 and $1 in cash in the United States. The Company has not experienced any losses in such accounts and believes it is not exposed to any risks on its cash in bank accounts.

Fair Value of Financial Instruments

For certain of the Company’s financial instruments, including cash accounts payable, accrued liabilities, short-term debt, and derivative liability, the carrying amounts approximate their fair values due to their short maturities. We adopted ASC Topic 820, “Fair Value Measurements and Disclosures,”, which requires disclosure of the fair value of financial instruments held by the Company. ASC Topic 825, “Financial Instruments,” defines fair value, and establishes a three-level valuation hierarchy for disclosures of fair value measurement that enhances disclosure requirements for fair value measures. The carrying amounts reported in the balance sheets for receivables and current liabilities each qualify as financial instruments and are a reasonable estimate of their fair values because of the short period of time between the origination of such instruments and their expected realization and their current market rate of interest. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1 measurement) and the lowest priority to unobservable inputs (level 3 measurements). The three levels of valuation hierarchy are defined as follows:

Level 1 input to the valuation methodology are quoted prices for identical assets or liabilities in active markets. The Company’s investment in Mobicard Inc., see Note 4, is actively traded on the pink sheets.

Level 2 inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument.

Level 3 inputs to the valuation methodology are unobservable in which little or no market data exists, therefore requiring an entity to develop its own assumptions, such as valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable.

The Company analyzes all financial instruments with features of both liabilities and equity under ASC 480, “Distinguishing Liabilities from Equity,” and ASC 815.

We have recorded the conversion option on notes as a derivative liability as a result of the variable conversion price, which in accordance with U.S. GAAP, prevents them from being considered as indexed to our stock and qualified for an exception to derivative accounting.

We recognize derivative instruments as either assets or liabilities on the accompanying balance sheets at fair value. We record changes in the fair value of the derivatives in the accompanying statement of operations.

Assets and liabilities measured at fair value are as follows as of December 31, 2019:

	Total		Level 1		Level 2		Level 3
Assets
Investment	$	189,000		189,000		-		-
Total assets measured at fair value	$	189,000		189,000		-		-

	Total		Level 1		Level 2		Level 3
Liabilities
Derivative liability	$	893,171		-		-		893,171
Total liabilities measured at fair value	$	893,171		-		-		893,171

Assets and liabilities measured at fair value are as follows as of December 31, 2018:

	Total		Level 1		Level 2		Level 3
Liabilities
Derivative liability	$	876,058		-		-		876,058
Total liabilities measured at fair value	$	876,058		-		-		876,258

The following is a reconciliation of the derivative liability for which Level 3 inputs were used in determining the approximate fair value:

Balance as of December 31, 2017	$	1,030,132
Fair value of derivative liabilities issued		400,078
Loss on conversions		(710,076	)
Gain on change in derivative liabilities		155,924
Balance as of December 31, 2018	$	876,058
Balance as of December 31, 2018	$	876,058
Fair value of derivative liabilities issued		134,115
Loss on change in derivative liabilities		69,576
Reclassify to equity upon payoff or conversion		(186,578	)
Balance as of December 31, 2019	$	893,171

Earnings Per Share (EPS)

Basic EPS is computed by dividing income available to common shareholders by the weighted average number of common shares outstanding for the period. Diluted EPS is computed similar to basic net income per share except that the denominator is increased to include the number of additional common shares that would have been outstanding if all the potential common shares, warrants and stock options had been issued and if the additional common shares were dilutive. Diluted EPS is based on the assumption that all dilutive convertible shares and stock options were converted or exercised. Dilution is computed by applying the treasury stock method for the outstanding options and the if-converted method for the outstanding convertible preferred shares. Under the treasury stock method, options and warrants are assumed to be exercised at the beginning of the period (or at the time of issuance, if later), and as if funds obtained thereby were used to purchase common stock at the average market price during the period. Under the if-converted method, convertible outstanding instruments are assumed to be converted into common stock at the beginning of the period (or at the time of issuance, if later). During the years ended December 31, 2019 and December 31, 2018, the Company generated no revenues and incurred substantial losses, of which the vast majority were due to mostly non-cash charges for accrued interest, penalties and derivative charges related to convertible debt instruments. Therefore, the effect of any common stock equivalents on EPS is anti-dilutive during those periods.

Concentration of Credit Risk

Cash is mainly maintained by one highly qualified institution in the United States. At no time were such amounts in excess of federally insured limits. Management does not believe that the Company is subject to any unusual financial risk beyond the normal risk associated with commercial banking relationships. The Company has not experienced any losses on our deposits of cash.

Income Taxes

The Company utilizes FASB Accounting Standards Codification (ASC) Topic 740, Income Taxes, which requires recognition of deferred tax assets and liabilities for the expected future tax consequences of events that were included in the financial statements or tax returns. Under this method, deferred income taxes are recognized for the tax consequences in future years of differences between the tax bases of assets and liabilities and their financial reporting amounts at each period end based on enacted tax laws and statutory tax rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized.

ASC 740 provides accounting and disclosure guidance about positions taken by an organization in its tax returns that might be uncertain. When tax returns are filed, it is likely that some positions taken would be sustained upon examination by the taxing authorities, while others are subject to uncertainty about the merits of the position taken or the amount of the position that would be ultimately sustained. The benefit of a tax position is recognized in the financial statements in the period during which, based on all available evidence, management believes it is more likely than not that the position will be sustained upon examination, including the resolution of appeals or litigation processes, if any. Tax positions taken are not offset or aggregated with other positions. Tax positions that meet the more-likely-than-not recognition threshold are measured as the largest amount of tax benefit that is more than 50 percent likely of being realized upon settlement with the applicable taxing authority. The portion of the benefits associated with tax positions taken that exceeds the amount measured as described above is reflected as a liability for unrecognized tax benefits in the accompanying balance sheets along with any associated interest and penalties that would be payable to the taxing authorities upon examination. Interest associated with unrecognized tax benefits is classified as interest expense and penalties are classified in selling, general and administrative expenses in the statements of income.

On December 31, 2019 and December 31, 2018, the Company had not taken any significant uncertain tax positions on its tax returns for the period ended December 31, 2019 and prior years or in computing its tax provisions for any years. Prior management considered its tax positions and believed that all of the positions taken by the Company in its Federal and State tax returns were more likely than not to be sustained upon examination. The Company is subject to examination by U.S. Federal and State tax authorities from inception to present, generally for three years after they are filed. New management, which took control of the Company on March 5, 2019, is currently evaluating prior management’s decision to not file federal tax returns and plans on filing past returns, and related 10-99 filings for compensation paid to prior management, employees, consultants, contractors and affiliates. The Company does not believe it has a material tax liability due to its operating losses in these periods.

Concentration of Credit Risk

Cash is mainly maintained by one highly qualified institution in the United States. At various times, such amounts are in excess of federally insured limits. Management does not believe that the Company is subject to any unusual financial risk beyond the normal risk associated with commercial banking relationships. The Company has not experienced any losses on our deposits of cash.

Risks and Uncertainties

The Company is subject to risks from, among other things, competition associated with the industry in general, other risks associated with financing, liquidity requirements, rapidly changing customer requirements, limited operating history and the volatility of public markets.

Recently Issued Accounting Pronouncements

In February 2016, FASB issued ASU No. 2016-02, Leases (Topic 842) (“ASU 2016-02”). ASU 2016-02 requires an entity to recognize right-of-use assets and lease liabilities on its balance sheet and disclose key information about leasing arrangements. For public companies, ASU 2016-02 is effective for annual reporting periods beginning after December 15, 2018, including interim periods within that reporting period, and requires a modified retrospective adoption, with early adoption permitted. We are evaluating the impact this guidance will have on our financial position and statement of operations.

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Going Concern

12 Months Ended

Dec. 31, 2019

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Going Concern

Note 3 – GOING CONCERN

The accompanying financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America, which contemplate the continuation of the Company as a going concern. The Company reported an accumulated deficit of $6,009,123 as of December 31, 2019. The Company also had negative working capital of $1,430,863 on December 31, 2019, and had operating losses of $195,905 and $217,236 for the years ended December 31, 2019 and 2018, respectively. To date, these losses and deficiencies have been financed principally through the issuance of common stock, loans from related parties and from third parties.

In view of the matters described, there is substantial doubt as to the Company’s ability to continue as a going concern without a significant infusion of capital. We anticipate that we will have to raise additional capital to fund operations over the next 12 months. To the extent that we are required to raise additional funds to acquire properties, and to cover costs of operations, we intend to do so through additional offerings of debt or equity securities. There are no commitments or arrangements for other offerings in place, no guaranties that any such financings would be forthcoming, or as to the terms of any such financings. Any future financing may involve substantial dilution to existing investors.

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Investments

12 Months Ended

Dec. 31, 2019

Investments, Debt and Equity Securities [Abstract]

Investments

Note 4 - INVESTMENTS

During the year ended December 31, 2019, the Company issued 400,000 share of preferred class B stock in exchange for 210,000,000 shares of Mobicard Inc. The shares were valued at the market price of $0.0023 per share, or $483,000, at the acquisition date. The shares are currently valued at the market price of $0.0009 per share on December 31, 2019 for a total investment of $189,000, resulting in a loss of $294,000.

During the year ended December 31, 2019, the Company received 1,000,000 shares of Kanab Corp. for consulting services provided by the Company’s CEO, Vikram Grover. The shares were valued at $0.0001 per share.

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Vehicle Deposits

12 Months Ended

Dec. 31, 2019

Deposits [Abstract]

Vehicle Deposits

Note 5 – VEHICLE DEPOSITS

Based on recent conversations with Aoxin and former management, we took an impairment charge for the vehicle deposit of $24,405.00 and wrote this asset down to $0 in the fourth quarter of 2018. Further, during the year ended December 31, 2019, we terminated all discussions and agreements with Aoxin Motors and exited the market for importation of electric vehicles from China.

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License Agreement

12 Months Ended

Dec. 31, 2019

License Agreement

License Agreement

Note 6 – LICENSE AGREEMENT

In 2012 and 2013, the Company made a total payment of $50,000 and signed an exclusive license agreement with Aoxin to import, assemble and manufacture the e-Go. The cost of this license agreement was recognized as a long-term asset and was evaluated, by management, for impairment losses at each reporting period. The Company wrote-off the value of this license agreement during the three-month period ended March 31, 2018 due to Aoxin’s inability to produce the e-Go and ship vehicles and auto parts to the United States. During the year ended December 31, 2019, we terminated all discussions with Aoxin regarding importation of electric automobiles and related parts and equipment from China into the United States.

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Loans Payable Due to Related Parties

12 Months Ended

Dec. 31, 2019

Debt Disclosure [Abstract]

Loans Payable Due to Related Parties

Note 7 – LOANS PAYABLE DUE TO RELATED PARTIES

As of December 31, 2019, all related party loans and associated interest and penalties were converted into common equity. Current management has demanded documentation of the providence of these loans. Management is reviewing legal options for recovery of these shares and has placed a stop action order on these shares with the Company’s transfer agent. On December 31, 2019 there were no outstanding loans to related parties

During the year ended December 31, 2014, the Company entered into two loans for a total amount of $100,000 due to a shareholder whose control party, William Fowler, became our CEO and a Director during 2018. The loans charged 12% interest and matured on February 28, 2015 and March 30, 2015, respectively. Subsequently, the loans were combined, and the maturity date was extended to April 1, 2018. The outstanding balance of the loans as of December 31, 2019 and December 31, 2018 was $0 and $0, respectively. During the year ended December 31, 2018, the Company recorded $8,568 of interest expense for these loans. The balance of the loans, which included penalty interest, was paid in cash and/or converted into 53,347,701 common shares during the twelve-month period ended December 31, 2018. Current management has been unable to confirm the details of these loans and accordingly has frozen the shares taken for conversion of the loans during the fourth quarter of 2018.

On July 1, 2017, the Company entered into an unsecured loan payable agreement with a related party for $14,100, due on September 15, 2017. The Company granted the related party an option to purchase up to 1,000,000 shares of common stock at an exercise price of $0.015 per share. The Company valued the options using the Black Scholes options pricing model. The fair market value of the options was $26,746. The value was restricted to the face value of the note and hence, $14,100 was recorded as a debt discount which was amortized over the term of the loan. The Company also agreed to pay $1,500 as an interest on the loan. On September 27, 2017, the Company entered into a note amendment, whereby, the term of the note was extended until November 1, 2017, in exchange for an additional $1,500 finance fee and $1,500 late fee. The Company recorded the same as interest expense in the accompanying financials. During the year ended December 31, 2017, the Company amortized the debt discount of $14,100. During the year ended December 31, 2017, the Company recorded $1,500 of interest expense for amortization of and another $1,500 of interest expense for the excess derivative. During the year ended December 31, 2018, the Company recorded $14,259 of interest expense for a loan with a related party. As of December 31, 2017, the loan was in default and the outstanding balance of the loan, as of December 31, 2017 was $17,100. The Company accrued a penalty of $1,750 plus $100 per day of default, aggregating to $7,750 in the accompanying financial statements for 2018.

On September 27, 2017, the Company entered into another unsecured loan payable agreement with the same related party for $17,500, due on November 1, 2017. The lender charged $1,750 as funding fee and $1,650 as processing fee for the loan, which were recorded as debt discount, with net loan proceeds of $14,100. The Company also granted the related party an option to purchase up to 1,000,000 shares of common stock at an exercise price of $0.015 per share. The Company valued the options using the Black Scholes options pricing model. The fair market value of the options was $22,945. The value was restricted to the net proceeds of the note and hence, $14,100 was recorded as a debt discount which is being amortized over the term of the loan. During the year ended December 31, 2017, the Company amortized the debt discount of $14,100 and the finance fee of $3,400. As of December 31, 2017, the loan was in default and the outstanding balance of the loan was $17,500. The Company accrued a penalty of $1,750 plus $100 per day of default, aggregating to $7,750 in the accompanying financial statements. During the twelve-month period ended December 31, 2018, the balance of this loan and associated interest and penalties was converted into 84,770,115 shares of common stock, eliminating the loan and accrued interest from the Company’s balance sheet.

Current management has been unable to confirm the details of these last two loans and accordingly has issued a stop action notice to the Company’s transfer agent freezing sales and transfers of the shares taken for conversion of the loans during the fourth quarter of 2018.

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Convertible Note Payables

12 Months Ended

Dec. 31, 2019

Debt Disclosure [Abstract]

Convertible Note Payables

NOTE 8 - CONVERTIBLE NOTE PAYABLES

The Company had convertible note payables with several third parties with stated interest rates ranging between 10% and 12% and 22% default interest not including penalties. These notes have a conversion feature such that the Company could not ensure it would have adequate authorized shares to meet all possible conversion demands; accordingly, the conversion option has been treated as a derivative liability in the accompanying interim financial statements. As of December 31, 2019, the Company had the following third-party convertible notes outstanding:

	Lender	Origination	Maturity	Amount			Interest
Note #1*	Auctus	1/6/17	10/6/17	$	60,522			24.0	%
Note #2*	Crown Bridge	9/15/17	9/15/18		3,240			15.0	%
Note #5*	Jabro 1	7/23/18	4/30/19		21,000			22.0	%
Note #6*	Jabro 2	10/01/18	7/15/19		11,500			22.0	%
Note #7*	PowerUp 9	11/01/18	8/30/19		14,700			22.0	%
Note #8*	PowerUp 10	3/08/19	01/15/20		28,000			12.0	%
Note #9*	Other	3/16/17	4/1/18		10,000			12.0	%
Note #10*	Tri-Bridge	3/15/19	9/15/19		2,286			10.0	%
Note #11*	PowerUp 11	7/9/19	4/30/20		35,000			12.0	%
Note #12*	GS Capital	9/6/19	9/6/20		28,900			12.0	%
Note #13*	GS Capital	11/21/19	11/21/20		18,000			12.0	%
Note #14*	PowerUp	11/21/19	11/21/20		18,000			12.0	%
Total				$	251,148
less discount					(63,350	)
Net				$	187,798

*Note is currently in default.

Note #1, issued on January 6, 2017, is in default and under the terms of the convertible promissory note, the Company was liable to pay 150% of the then outstanding principal and interest plus additional penalties for certain covenants that are breached. In addition to the note balance of $60,522 as of December 31, 2019, there were additional penalties and damages sought by the lender, which filed a civil lawsuit against the Company. The litigation has subsequently been settled and the note is no longer in default as of the date of filing of this report.

During the year ended December 31, 2019, third-party lenders converted $231,444 of principal and interest into 1,153,211,664 shares of common stock.

The variables used for the Black-Scholes model are as listed below:

	December 31, 2018	December 31, 2019
●	Volatility: 253% - 286%	Volatility: 191% - 455%
●	Risk free rate of return: 1.24%- 1.53%	Risk free rate of return: 1.93% - 1.99%
●	Expected term: 1-3 years	Expected term: 1-3 years

The Company amortized a debt discount of $100,299 and $158,635 respectively, during the years ended December 31, 2019 and 2018, respectively.

On January 24, 2018, the Company entered into an unsecured convertible note agreement with a third party for $35,000. The Company received $35,000 net of financing fees.

On February 22, 2018, the Company entered into an unsecured convertible note agreement with a third party for $43,000. The Company received $43,000 net of financing fees.

On April 11, 2018, the Company entered into an unsecured convertible note agreement with a third party for $15,000. The Company received $15,000 net of financing fees.

On April 27, 2018, the Company entered into an unsecured convertible note agreement with a third party for $21,500. The Company received $21,500 net of financing fees.

On July 23, 2018, the Company entered into an unsecured convertible note agreement with a third party for $21,000. The Company received $21,000 net of financing fees.

On October 1, 2018, the Company entered into an unsecured convertible note agreement with a third party for $11,500. The Company received $11,500 net of financing fees.

On November 1, 2018, the Company entered into an unsecured convertible note agreement with a third party for $14,700. The Company received $14,700 net of financing fees.

On March 8, 2019, a third-party loaned the Company $28,000.00 in a 12% debenture that matures on January 15, 2020. The transaction netted the Company $25,000.00 after legal fees and due diligence expenses.

On May 13, 2019, the Company borrowed $12,500.00 pursuant to a convertible note agreement bearing an interest rate of 12% per annum and with a maturity date of September 15, 2019.

On July 9, 2019, a third-party lender funded the Company $35,000.00 in the form of a 12% convertible debenture that matures April 30, 2020. The transaction netted the Company $32,000.00 after legal fees and due diligence expenses.

On September 6, 2019, a third-party lender funded the Company $35,000.00 in the form of a 12% convertible debenture that matures September 6, 2020. The transaction netted the Company $30,500.00 after legal fees and due diligence expenses

On November 12, 2019, a third-party lender funded the Company $18,000.00 in a 10% convertible debenture due November 12, 2020. The transaction netted the Company $15,500.00 after original issue discount (OID) of $2,500.00.

On November 14, 2019, a third-party lender funded the Company $18,000.00 in a 10% convertible debenture due November 14, 2020. The transaction netted the Company $12,500.00 after original issue discount (OID) of $3,000.00 and legal fees of $2,500.00.

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Commitments and Contingencies

12 Months Ended

Dec. 31, 2019

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Note 9 – COMMITMENTS AND CONTINGENCIES

Industrial Lease

Effective March 1, 2014, the Company signed a lease for four thousand square feet of industrial space in North Las Vegas. The term of the lease was for three years and cost $2,200 per month. The lease expired on April 30, 2017 and the Company was on a month to month lease thereafter. The lease was terminated as of June 30, 2018.

Rent expense amounted to $0 and $0 for the year ended December 31, 2019 and 2018, respectively. Rent expenses amounted to $0 and $13,400 for the year ended December 31, 2019 and 2018, respectively.

Aoxin License Agreement

Pursuant to a 2012 license agreement and 2017 amendment executed between the Company and Aoxin, in order to maintain exclusive rights for the United States (US), the Company was required to purchase and sell certain amount of e-Go model vehicles per year for a certain period of time starting from the completion of the requirements established by the United States Department of Transportation’s protocols for the e-Go. As part of the license agreement, the Company was committed to pay expenses related to any required airbag testing procedures.

Aoxin has been unable to procure a license to design, test, and manufacture e-Go vehicles in China. Additionally, our representatives in China have been told by Aoxin that any such agreement and amendment has expired. Given these circumstances, during the three-month period ended March 31, 2018, we wrote down the value of the Aoxin license to $0 and associated vehicle deposits were fully impaired during the fourth quarter of 2018. During the year ended December 31, 2019, based on failure to perform including a lack of a license to manufacture and export electric vehicles under our Agreement with them, we terminated all discussions and agreements with Aoxin Motors.

Legal Proceedings

The Company may from time to time, become a party to various legal proceedings, arising in the ordinary course of business. The Company investigates these claims as they arise.

A third-party lender, Auctus Fund, LLC, served the Company notice of a civil lawsuit on November 1, 2019 seeking principal, interest and penalties of $283,000.00 related to a loan provided to the Company on or around January 6, 2017. On November 25, 2019, the Company reached a Settlement Agreement and Mutual General Release with Auctus Fund, LLC. As part of the agreement, the Company agreed that the settlement value of the note and accrued interest was $60,522.32 and the Company would issue the following shares to settle the note and accrued interest:

● On or before December 5, 2019- 300,000,000 Settlement Shares; plus

● On or before January 6, 2020 - 300,000,000 Settlement Shares: plus

● On or before February 5, 2020 - 300,000,000 Settlement Shares: plus

● On or before March 5, 2020 - 300,000,000 Settlement Shares; plus

● On or before April 6, 2020 - 300,000,000 Settlement Shares.

The Company agreed to irrevocably authorize and reserve a sufficient amount of Settlement Shares of the Company’s common stock pursuant to the reserve requirements of the Note (with an initial amount of at least One Billion - Five Hundred Million (1,500,000,000) Shares of the publicly tradeable ETFM Common Stock for delivery and issuance to the Auctus Fund, LLC. For year-end 2019, the Company accrued a liability of $260,000, representing the fair value of the settlement shares at the date of the settlement agreement. The Settlement Agreement was subsequently amended in 2020 (see SUBSEQUENT EVENTS) and all principal and interest has been retired as of the date of filing of this report.

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Revolving Line of Credit- Related Party

12 Months Ended

Dec. 31, 2019

Debt Disclosure [Abstract]

Revolving Line of Credit- Related Party

Note 10 – REVOLVING LINE OF CREDIT- RELATED PARTY

On February 12, 2016, the Company signed a twelve-month revolving line of credit agreement with a related party. The line amount was $100,000 and carried interest at 12% per annum. In January 2017, the Company signed an amendment to extend the due date of the loan to June 30, 2018 for a conversion option for the restricted common stock of the Company. The note carried interest at the rate of 12% per annum and was convertible at any time starting from January 18, 2017 and ending on the later of the maturity date or the date of payment. The note was convertible at 50% of the Average Market Price for the 15 previous trading days before the conversion notice date. The derivative liability on the note was calculated, using the Binomial model, to be $227,760, of which $101,400 was recorded as a debt discount and the balance $126,360 was recorded as an interest expense, at inception. During the year ended December 31, 2018, the balance on the revolving line of credit and related interest were converted to 53,347,701 shares of common stock.

The derivative liability was recalculated on December 31, 2019 and December 31, 2018 as $0 and $0, respectively, on the balance of the related party loan and the difference in the value recorded as a change in derivative liability in the income statement. As of December 31, 2019, the balance outstanding on the related party loans was $0. Management has been unable to confirm the details of these loans and accordingly has frozen the shares taken for conversion of the loans.

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Income Taxes

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Income Taxes

Note 11 – INCOME TAXES

The Company did not file its federal tax returns for fiscal years from 2012 through 2019. Management at year-end 2019 believed that it should not have any material impact on the Company’s financials because the Company did not have any tax liabilities due to net loss incurred during these years.

Based on the available information and other factors, management believes it is more likely than not that the net deferred tax assets on December 31, 2019 and December 31, 2018 will not be fully realizable. Accordingly, management has recorded a full valuation allowance against its net deferred tax assets on December 31, 2019 and December 31, 2018. On December 31, 2019 and December 31, 2018, the Company projected it has potential net operating loss carryforwards of approximately $6,000,000 and $6,000,000, respectively.

Deferred tax assets consist of the following components:

	2019			2018
Net loss carryforward	$	1,265,000		$	1,252,000
Valuation allowance		(1,265,000	)		(1,252,000	)
Total deferred tax assets	$			$	-

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Warrants and Options

12 Months Ended

Dec. 31, 2019

Warrants And Options

Warrants and Options

Note 12 – WARRANTS AND OPTIONS

As of December 31, 2019, the Company has thirty million warrants with an exercise price of $0.01 and a three-year expiration issued and outstanding to three members of our Advisory Board who were added to that newly created committee during March - April 2019. Additionally, we issued ten million warrants with a strike price of $0.005 and a three-year expiration to EDGE FiberNet, Inc. as compensation for strategic consulting. Further, our CEO, Vikram Grover, was to be issued 100 million warrants with a strike price of $0.001 upon bringing the Company current with its SEC reporting requirements, with an additional 100 million warrants with a strike price of $0.001 due upon our common stock closing at or above $0.01 for ten consecutive trading sessions. On July 22, 2019, the Company was brought current with regard to its SEC reporting requirements, and as a result, the initial 100 million warrants were due to be issued to Vikram Grover. To expedite auditor review, Vikram Grover forfeited his right to receive the 100 million warrants due to him for bringing the company current with its SEC filings. During the year ended December 31, 2019, the Company recognized $16,803 in expense related to these warrants. On December 31, 2019, a total of 40,000,000 warrants were outstanding with a weighted average life of 2.28 years and an intrinsic value of zero.

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Equity

12 Months Ended

Dec. 31, 2019

Equity [Abstract]

Equity

Note 13 – EQUITY

During the year ended December 31, 2018, the Company increased its authorized shares two times, first from 300 million to one billion, and later from one billion to three billion. During the year ended December 31, 2019, the Company increased the authorized shares for common stock of the Company from three billion to then (10) billion and for preferred shares from ten (10) million to one hundred (100) million.

Between January 1, 2019 and December 31, 2019, the Company issued to third-party lenders a total of 1,242,231,661 shares of common stock pursuant to conversions of $255,334 debt.

On March 6, 2019, our Board of Directors approved, and we filed a Certificate of Determination for with the Secretary of State of California, a new class of Series C Preferred Shares with a total of one million such shares authorized. Each share converts into one common share, has 10,000 votes on every corporate matter requiring a shareholder vote, has a par value of $0.0001, and pays an annual dividend at the option of the Company of $0.01. Subsequent to the end of the three months ended March 30, 2019, the Company issued one million (1,000,000) Series C Preferred Shares to our CEO, Vikram Grover, as consideration for the change of control of the Company. Effective November 6, 2020, the Company increased the authorized Series C Preferred Shares to two (2) million from one (1) million and increased the voting rights of the Series C Preferred shares to 100,000 for every one (1) share from 10,000 for every one (1) share.

On March 27, 2019, we issued a demand letter to BKS Cambria, LLC (“BKS”) and United Biorefineries, Inc. (“United”) to return 84,770,115 and 53,347,701 of our common stock shares in certificate form, respectively, that may have been invalidly issued by prior management to the corporate entities they controlled. BKS and United failed to respond to our demand letter by the demand date and we have not received the foregoing share amounts in certificate form from either BKS or United. UBC has electronically responded, denied any wrongdoing, and refuses to return the certificates. We are evaluating our legal remedies regarding these share issuances.

On April 7, 2019, our Board of Directors approved the creation of a new class of Series B Preferred Shares. A total of six million such shares were authorized. Each share converts into 1,000 common shares, votes on an as converted basis, has a par value of $0.001, and pays a cumulative annual dividend in cash or in kind of $0.01. Effective November 6, 2020, the Company increased the authorized number of Series B Preferred Shares to twenty million from six million to facilitate mergers and acquisitions.

On April 8, 2019, we amended the terms of our existing Series A Preferred stock by changing the par value from nil to $0.0001 and establishing a $0.01 per share annual dividend to be approved by our Board of Directors each year. At the time, each share was convertible into one common share and had 50 votes on corporate matters. As part of the management transition plan announced in March 2019, two million of the Series A Preferred Shares were transferred from former management to our current CEO, Vikram Grover. At the time, a total of three million Series A Preferred Shares were authorized, all of which were and are currently issued and outstanding. The financial statements were retroactively adjusted to give effect to this change in par value.

On May 5, 2019, 2050 Motors, Inc. executed a Securities Purchase Agreement with our CEO, Vikram Grover, for an investment in the Company of $483,000 in the form of 210,000,000 free-trading common shares of Peer to Peer Network aka Mobicard Inc. The transaction closed on May 15, 2019. As consideration, the Company issued the investor 400,000 newly created 1% Cumulative Series B Preferred Shares, each of which bears a RESTRICTED CONTROL STOCK legend.

On May 14, 2019, our Board of Directors approved the dissolution of our wholly-owned subsidiary, 2050 Motors, Inc., a Nevada corporation doing business under the same name as our publicly traded company, 2050 Motors, Inc., a California corporation. Additionally, our Board of Directors approved the termination of any and all discussions and prior agreements with Aoxin Motors regarding the importation of electric vehicles to be made by Aoxin Motors in China into the United States. Our termination was driven by Aoxin Motors’ failure to obtain the necessary license(s) to manufacture e-GO electric vehicles, which have been under development since 2012. Accordingly, on May 14, 2019, we filed paperwork with the Secretary of State of Nevada to dissolve our wholly owned subsidiary, 2050 Motors, Inc., a Nevada corporation, and that dissolution went effective on or around May 17, 2019.

On May 15, 2019, based on due diligence and research by management and the Company’s advisors, the Board of Directors of 2050 Motors, Inc., a California corporation, approved stop action orders on 162,846,149 common shares held by former management, employees, affiliates and representatives of the Company. Accordingly, management has directed the Company’s transfer agent to prohibit the transfer or sale of any shares associated with their certificates. Pending investigation of the providence of these shares and proof of consideration for said shares, these shares will remain frozen indefinitely and subject to the Company’s powers of enforcement and the rules of law.

On November 18, 2019, a third-party lender converted $2,170.00 of principal and $500.00 of fees into 89,000,000 shares of common stock.

On December 6, 2019, a third-party lender converted $2,350.00 principal and $1,290.00 interest of a convertible debenture into 72,800,000 common shares.

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Subsequent Events

12 Months Ended

Dec. 31, 2019

Subsequent Events [Abstract]

Subsequent Events

SUBSEQUENT EVENTS

On January 8, 2020, a third-party lender converted $5,300.00 principal of a convertible debenture into 106,000,000 common shares.

On February 3, 2020, a third-party lender converted $5,600.00 principal of a convertible debenture into 112,000,000 common shares.

On February 5, 2020, a third-party lender converted $4,682.00 principal of a convertible debenture into 93,640,000 common shares.

On February 18, 2020, a third-party lender converted $7,000.00 principal of a convertible debenture into 116,666,667 common shares.

On August 26, 2020, the Company issued its, CEO, Vikram Grover, 125,000 Series B Preferred Shares for accrued compensation of $25,000.00.

On August 27, 2020, a third-party lender converted $6,100.00 principal and $947.93 interest of a convertible debenture into 128,144,181 restricted common shares.

On August 31, 2020, a third-party lender converted $2,950.00 principal and $500.00 of fees of a convertible debenture into 115,000,000 common shares.

On September 3, 2020, the Company issued its CEO, Vikram Grover, 1,370,065 Restricted Series B Preferred shares for accrued compensation of $137,065.00.

On September 4, 2020, a third-party lender converted $57.96 principal, $2,811.59 intertest and $500.00 of fees of a convertible debenture into 112,318,333 common shares.

From September 10, 2020 through October 8, 2020, a third-party lender converted $25,000.00 warrants attached to a 2017 loan into 611,005,229 common shares. As a result, the debenture and warrants were retired.

On September 30, 2020, a third-party lender converted $20,229.66 principal and $6,743.22 interest of a convertible debenture into 179,819,200 common shares.

On October 8, 2020, a third-party lender converted $21,239.12 principal and $ $7,079.71 interest of a convertible debenture into 188,792,200 common shares.

On October 9, 2020, the Company issued its CEO, Vikram Grover, 93,750 Restricted Series B Preferred shares for accrued compensation of $37,500.00.

On October 20, 2020, a third-party lender converted $0 principal, $86.40 interest and $30,237.55 penalties related to a convertible debenture into 202,159,667 common shares.

From January 1, 2020 through October 23, 2020, the Company issued 275,000 Restricted Series B Preferred shares to consultants for professional services, including due diligence on the Purge Virus transaction, corporate development, sales and marketing, and other.

Effective October 25, 2020, the Company and a third party lender amended a prior settlement agreement effected in 2019 to require the issuance of seven hundred ninety four million, forty one thousand, one hundred thirty three (794,041,133) Settlement Shares of common stock, as follows: a) publicly tradeable shares of common stock (the “Settlement Shares” or the “Shares”) to be converted, transferred and delivered to the third party lender, in whole or in part pursuant to the third party lender’s notice: 1) on or before November 1, 2020 – 264,680,377 Settlement Shares, in whole or in part as determined by the third party lender, in its discretion; plus 2) on or before December 1, 2020 – 264,680,378 Settlement Shares, in whole or in part as determined by the third party lender, in its discretion; plus 3) on or before January 1, 2021 – 264,680,378 Settlement Shares, in whole or in part, as determined by the third party lender, in its discretion. Remaining shares, which have already been reserved, will settle the balance of the November 2019 $283,000.00 lawsuit brought by the third-party lender against the Company. The lender has subsequently executed two conversions of principal, interest and penalties into 435,086,069 common shares (below).

On November 2, 2020, a third-party lender converted $10,944.39 principal, $93.60 interest and $20,799.13 penalties related to a convertible debenture into 212,247,469 common shares.

On October 28, 2020, a third-party lender funded the Company $115,000.00 in a redeemable convertible note, netting $98,000.00 after an original issue discount (OID) of $10,000.00, legal fees of $5,000.00 in legal fees and $2,000.00 in broker fees.

On December 2, 2020, a third-party lender converted $55,709.65 penalties related to a convertible debenture into 222,838,600 common shares.

Business Development and Related

On March 10, 2019, Aldo Baiocchi joined the Company’s Advisory Board to guide the Company’s growth of electric vehicle ventures. As compensation, Aldo Baiocchi was issued 10 million incentive common stock purchase warrants with a strike price of $0.01 and three-year expiration. On December 3, 2020, Aldo Baiocchi resigned from the Company’s Advisory Board.

On March 10, 2019, Ted Flomenhaft joined the Company’s Advisory Board to guide the Company’s growth of technology and communications ventures. As compensation, Ted Flomenhaft was issued 10 million incentive common stock purchase warrants with a strike price of $0.01 and three-year expiration. On or around March 31, 2020, Mr. Flomenhaft resigned from the Company’s Advisory Board.

On March 19, 2019, we engaged EDGE FiberNet, Inc. for consulting, support and back office services to assist us in development of our planned businesses in communications, electric vehicles, lighting, including power over Ethernet and LED, and other mediums. As part of the Agreement, we received an option on 4,000 square feet of office/retail space at EDGE FiberNet’s headquarters in Industry City, Brooklyn, New York. As compensation, we issued EDGE FiberNet ten (10) million common stock purchase warrants with a strike price of $.005 and a three-year expiration.

On April 12, 2019, Michael Shevack joined the Company’s Advisory Board to guide the formation of an Environmental, Social and Governance (“ESG”) Division. As compensation, Shevack was issued ten (10) million incentive common stock purchase warrants with a strike price of $0.01 and three-year expiration. On August 22, 2019, Mr. Shevack resigned from the Company’s Advisory Board and his warrants were canceled.

As part of its management transition plan, on or around March 6, 2019, the Company agreed to transfer to prior Management eighty (80) percent ownership of its Nevada subsidiary, 2050 Motors (“2050 Private” or “TFPC”) in exchange for a corporate note from TFPC in the amount of fifty thousand dollars at 8% interest per annum to be paid out of net profits. 2050 Motors (2050 Public) agreed to appoint William Fowler as President of 2050 Private to raise operating capital for expenses to negotiate terms and conditions to maintain Exclusive License with Aoxin Motors. Subsequent to the change of control and based on due diligence on TFPM and the status of the Aoxin Motors relationship, on or around April 2, 2019, we terminated the transaction as we deemed that it was not in the best interests of shareholders. We continued to demand information regarding TFPC from former management but have received unresponsive and unsatisfactory responses to our inquiries.

On May 2, 2019, we engaged Markup Designs Pvt. Ltd. (“MDPL”; https://www.markupdesigns.com), a global Web and mobile application development company, to design and build a social network to be named “KANAB.CLUB” (www.kanab.club) targeting the global cannabis market. On May 13, 2019, we completed an initial payment to MDPL, mandating them to deploy a home page with launch information and sign-up capabilities for customers and to complete a working Web platform during summer 2019. After coding industry-standard social media functionality, we intend to add an online marketplace, 420 dating services, discussion forums, rewards programs/points including potential utility crypto coins, differentiated advertising and navigation capabilities (www.linkstorm.net), and Android/iOS mobile applications to the platform.

On May 9, 2019, the Company appointed Charles Szoradi to its Advisory Board. Mr. Szoradi was issued ten (10) million common stock purchase warrants with a $0.01 strike price and three-year expiration, which were subsequently canceled bur reinstated as part of the Purge Virus, LLC acquisition at a strike price of $0.001. As part of the October 19, 2020 acquisition of 100% of the member interests of Purge Virus, LLC from Mr. Szoradi, the Company will appoint him to the Board of Directors upon retention of Directors and Officers insurance (D&O).

On May 14, 2019, to eliminate any confusion regarding the future direction of the Company and to provide transparency and clarity for our investors, our Board of Directors approved the dissolution of our wholly owned subsidiary, 2050 Motors, Inc., a Nevada corporation doing business under the same name as our publicly traded company at the time, 2050 Motors, Inc., a California corporation. Additionally, our Board of Directors approved the termination of any and all discussions and prior agreements with Aoxin Motors regarding the importation of electric vehicles to be made by Aoxin Motors in China into the United States. Our termination was driven by Aoxin Motors’ failure to obtain the necessary license(s) to manufacture e-GO electric vehicles, which have been under development since 2012. Accordingly, on May 14, 2019, we filed paperwork with the Secretary of State of Nevada to dissolve our wholly owned subsidiary, 2050 Motors, Inc., a Nevada corporation, and that dissolution went effective on or around May 17, 2019.

On October 12, 2019, we appointed Dr. Wayman Baker, PhD, a scientist previously employed by NASA, to the Advisory Board. As a result, we issued Dr. Baker, ten (10) million common stock purchase warrants with a strike price of $0.01 and a three-year expiration, whose strike price was subsequently amended to $0.001 in 2020.

On October 2, 2020, we issued John Kelly, owner of PPE Source International LLC (PPESI), a provider of PPE to small, medium and large businesses, institutions and government customers, 100,000 Series B Preferred Shares for a 180-day exclusive option to purchase his 100% member interests in PPESI.

On October 19, 2020, we closed the acquisition of 100% of the member interests of Purge Virus, LLC from Charles Szoradi for consideration of two million (2,000,000) Series B Preferred Shares. The purchase maintains PV as a 100% owned subsidiary of FOMO CORP., includes cross-selling relationships with Mr. Szoradi’s 100% owned LED company Independence LED and 33% owned energy management software company Energy Intelligence Center (EIC), and JV partner Company PPE Source International LLC.

On December 6, 2020, we appointed Paul Benis, a 30-year veteran of the industrial HVAC market, technology executive and owner of PVBG Inc, to the Advisory Board. As part of the appointment, we issued Benis ten (10) million common stock purchase warrants with a strike price of $0.001 and a three-year expiration.

COVID-19 Pandemic Update

In March 2020, the World Health Organization declared a global health pandemic related to the outbreak of a novel coronavirus. The COVID-19 pandemic adversely affected the company’s financial performance in the third and fourth quarters of fiscal year 2020 and could have an impact throughout fiscal year 2021. In response to the COVID-19 pandemic, government health officials have recommended and mandated precautions to mitigate the spread of the virus, including shelter-in-place orders, prohibitions on public gatherings and other similar measures. There is uncertainty around the duration and breadth of the COVID-19 pandemic, as well as the impact it will have on the company’s operations, supply chain and demand for its products. As a result, the ultimate impact on the company’s business, financial condition or operating results cannot be reasonably estimated at this time.

On June 4, 2020, the Company entered into a $11,593 note payable to Bank of America, pursuant to the Paycheck Protection Program (“PPP Loan”) under the CARES Act. The loan remains outstanding but is expected to be forgiven by the U.S. government based on guidance from the Company’s commercial bank, Bank of America.

Warrants

On November 3, 2020, the Company reduced the strike price on 10,000,000 warrants owned by Dr. Wayman Baker, PhD, from $0.01 per share to $0.001 per share.

On December 2, 2020, the Company reduced the strike price on 10,000,000 warrants owned by Aldo Baiocchi, from $0.01 per share to $0.001 per share.

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Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2019

Accounting Policies [Abstract]

Basis of Presentation

Basis of Presentation

The accompanying financial statements were prepared in conformity with generally accepted accounting principles in the United States of America (“US GAAP”).

Use of Estimates

Use of Estimates

The preparation of financial statements in conformity with US GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates include accounts payable, the recoverability of long-term assets, and the valuation of derivative liabilities.

Consolidation

Consolidation

The consolidated financial statements of the Company include the Company and its wholly owned subsidiary, 2050 Motors, Inc. All material intercompany balances and transactions have been eliminated in consolidation.

Cash

Cash

Cash consists of deposits in one large national bank. On December 31, 2019 and December 31, 2018, respectively, the Company had $63 and $1 in cash in the United States. The Company has not experienced any losses in such accounts and believes it is not exposed to any risks on its cash in bank accounts.

Fair Value of Financial Instruments

Fair Value of Financial Instruments

For certain of the Company’s financial instruments, including cash accounts payable, accrued liabilities, short-term debt, and derivative liability, the carrying amounts approximate their fair values due to their short maturities. We adopted ASC Topic 820, “Fair Value Measurements and Disclosures,”, which requires disclosure of the fair value of financial instruments held by the Company. ASC Topic 825, “Financial Instruments,” defines fair value, and establishes a three-level valuation hierarchy for disclosures of fair value measurement that enhances disclosure requirements for fair value measures. The carrying amounts reported in the balance sheets for receivables and current liabilities each qualify as financial instruments and are a reasonable estimate of their fair values because of the short period of time between the origination of such instruments and their expected realization and their current market rate of interest. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1 measurement) and the lowest priority to unobservable inputs (level 3 measurements). The three levels of valuation hierarchy are defined as follows:

Level 1 input to the valuation methodology are quoted prices for identical assets or liabilities in active markets. The Company’s investment in Mobicard Inc., see Note 4, is actively traded on the pink sheets.

Level 2 inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument.

Level 3 inputs to the valuation methodology are unobservable in which little or no market data exists, therefore requiring an entity to develop its own assumptions, such as valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable.

The Company analyzes all financial instruments with features of both liabilities and equity under ASC 480, “Distinguishing Liabilities from Equity,” and ASC 815.

We have recorded the conversion option on notes as a derivative liability as a result of the variable conversion price, which in accordance with U.S. GAAP, prevents them from being considered as indexed to our stock and qualified for an exception to derivative accounting.

We recognize derivative instruments as either assets or liabilities on the accompanying balance sheets at fair value. We record changes in the fair value of the derivatives in the accompanying statement of operations.

Assets and liabilities measured at fair value are as follows as of December 31, 2019:

	Total		Level 1		Level 2		Level 3
Assets
Investment	$	189,000		189,000		-		-
Total assets measured at fair value	$	189,000		189,000		-		-

	Total		Level 1		Level 2		Level 3
Liabilities
Derivative liability	$	893,171		-		-		893,171
Total liabilities measured at fair value	$	893,171		-		-		893,171

Assets and liabilities measured at fair value are as follows as of December 31, 2018:

	Total		Level 1		Level 2		Level 3
Liabilities
Derivative liability	$	876,058		-		-		876,058
Total liabilities measured at fair value	$	876,058		-		-		876,258

The following is a reconciliation of the derivative liability for which Level 3 inputs were used in determining the approximate fair value:

Balance as of December 31, 2017	$	1,030,132
Fair value of derivative liabilities issued		400,078
Loss on conversions		(710,076	)
Gain on change in derivative liabilities		155,924
Balance as of December 31, 2018	$	876,058
Balance as of December 31, 2018	$	876,058
Fair value of derivative liabilities issued		134,115
Loss on change in derivative liabilities		69,576
Reclassify to equity upon payoff or conversion		(186,578	)
Balance as of December 31, 2019	$	893,171

Earnings Per Share (EPS)

Earnings Per Share (EPS)

Basic EPS is computed by dividing income available to common shareholders by the weighted average number of common shares outstanding for the period. Diluted EPS is computed similar to basic net income per share except that the denominator is increased to include the number of additional common shares that would have been outstanding if all the potential common shares, warrants and stock options had been issued and if the additional common shares were dilutive. Diluted EPS is based on the assumption that all dilutive convertible shares and stock options were converted or exercised. Dilution is computed by applying the treasury stock method for the outstanding options and the if-converted method for the outstanding convertible preferred shares. Under the treasury stock method, options and warrants are assumed to be exercised at the beginning of the period (or at the time of issuance, if later), and as if funds obtained thereby were used to purchase common stock at the average market price during the period. Under the if-converted method, convertible outstanding instruments are assumed to be converted into common stock at the beginning of the period (or at the time of issuance, if later). During the years ended December 31, 2019 and December 31, 2018, the Company generated no revenues and incurred substantial losses, of which the vast majority were due to mostly non-cash charges for accrued interest, penalties and derivative charges related to convertible debt instruments. Therefore, the effect of any common stock equivalents on EPS is anti-dilutive during those periods.

Concentration of Credit Risk

Concentration of Credit Risk

Cash is mainly maintained by one highly qualified institution in the United States. At no time were such amounts in excess of federally insured limits. Management does not believe that the Company is subject to any unusual financial risk beyond the normal risk associated with commercial banking relationships. The Company has not experienced any losses on our deposits of cash.

Income Taxes

Income Taxes

The Company utilizes FASB Accounting Standards Codification (ASC) Topic 740, Income Taxes, which requires recognition of deferred tax assets and liabilities for the expected future tax consequences of events that were included in the financial statements or tax returns. Under this method, deferred income taxes are recognized for the tax consequences in future years of differences between the tax bases of assets and liabilities and their financial reporting amounts at each period end based on enacted tax laws and statutory tax rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized.

ASC 740 provides accounting and disclosure guidance about positions taken by an organization in its tax returns that might be uncertain. When tax returns are filed, it is likely that some positions taken would be sustained upon examination by the taxing authorities, while others are subject to uncertainty about the merits of the position taken or the amount of the position that would be ultimately sustained. The benefit of a tax position is recognized in the financial statements in the period during which, based on all available evidence, management believes it is more likely than not that the position will be sustained upon examination, including the resolution of appeals or litigation processes, if any. Tax positions taken are not offset or aggregated with other positions. Tax positions that meet the more-likely-than-not recognition threshold are measured as the largest amount of tax benefit that is more than 50 percent likely of being realized upon settlement with the applicable taxing authority. The portion of the benefits associated with tax positions taken that exceeds the amount measured as described above is reflected as a liability for unrecognized tax benefits in the accompanying balance sheets along with any associated interest and penalties that would be payable to the taxing authorities upon examination. Interest associated with unrecognized tax benefits is classified as interest expense and penalties are classified in selling, general and administrative expenses in the statements of income.

On December 31, 2019 and December 31, 2018, the Company had not taken any significant uncertain tax positions on its tax returns for the period ended December 31, 2019 and prior years or in computing its tax provisions for any years. Prior management considered its tax positions and believed that all of the positions taken by the Company in its Federal and State tax returns were more likely than not to be sustained upon examination. The Company is subject to examination by U.S. Federal and State tax authorities from inception to present, generally for three years after they are filed. New management, which took control of the Company on March 5, 2019, is currently evaluating prior management’s decision to not file federal tax returns and plans on filing past returns, and related 10-99 filings for compensation paid to prior management, employees, consultants, contractors and affiliates. The Company does not believe it has a material tax liability due to its operating losses in these periods.

Risks and Uncertainties

Risks and Uncertainties

The Company is subject to risks from, among other things, competition associated with the industry in general, other risks associated with financing, liquidity requirements, rapidly changing customer requirements, limited operating history and the volatility of public markets.

Recently Adopted Accounting Policies

Recently Issued Accounting Pronouncements

In February 2016, FASB issued ASU No. 2016-02, Leases (Topic 842) (“ASU 2016-02”). ASU 2016-02 requires an entity to recognize right-of-use assets and lease liabilities on its balance sheet and disclose key information about leasing arrangements. For public companies, ASU 2016-02 is effective for annual reporting periods beginning after December 15, 2018, including interim periods within that reporting period, and requires a modified retrospective adoption, with early adoption permitted. We are evaluating the impact this guidance will have on our financial position and statement of operations.

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Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2019

Accounting Policies [Abstract]

Schedule of Fair Value of Assets and Liabilities

Assets and liabilities measured at fair value are as follows as of December 31, 2019:

	Total		Level 1		Level 2		Level 3
Assets
Investment	$	189,000		189,000		-		-
Total assets measured at fair value	$	189,000		189,000		-		-

	Total		Level 1		Level 2		Level 3
Liabilities
Derivative liability	$	893,171		-		-		893,171
Total liabilities measured at fair value	$	893,171		-		-		893,171

Assets and liabilities measured at fair value are as follows as of December 31, 2018:

	Total		Level 1		Level 2		Level 3
Liabilities
Derivative liability	$	876,058		-		-		876,058
Total liabilities measured at fair value	$	876,058		-		-		876,258

Schedule of Reconciliation of Derivative Liability

The following is a reconciliation of the derivative liability for which Level 3 inputs were used in determining the approximate fair value:

Balance as of December 31, 2017	$	1,030,132
Fair value of derivative liabilities issued		400,078
Loss on conversions		(710,076	)
Gain on change in derivative liabilities		155,924
Balance as of December 31, 2018	$	876,058
Balance as of December 31, 2018	$	876,058
Fair value of derivative liabilities issued		134,115
Loss on change in derivative liabilities		69,576
Reclassify to equity upon payoff or conversion		(186,578	)
Balance as of December 31, 2019	$	893,171

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Convertible Note Payables (Tables)

12 Months Ended

Dec. 31, 2019

Debt Disclosure [Abstract]

Schedule of Derivative Liability in Accompanying Interim Financial Statements

As of December 31, 2019, the Company had the following third-party convertible notes outstanding:

	Lender	Origination	Maturity	Amount			Interest
Note #1*	Auctus	1/6/17	10/6/17	$	60,522			24.0	%
Note #2*	Crown Bridge	9/15/17	9/15/18		3,240			15.0	%
Note #5*	Jabro 1	7/23/18	4/30/19		21,000			22.0	%
Note #6*	Jabro 2	10/01/18	7/15/19		11,500			22.0	%
Note #7*	PowerUp 9	11/01/18	8/30/19		14,700			22.0	%
Note #8*	PowerUp 10	3/08/19	01/15/20		28,000			12.0	%
Note #9*	Other	3/16/17	4/1/18		10,000			12.0	%
Note #10*	Tri-Bridge	3/15/19	9/15/19		2,286			10.0	%
Note #11*	PowerUp 11	7/9/19	4/30/20		35,000			12.0	%
Note #12*	GS Capital	9/6/19	9/6/20		28,900			12.0	%
Note #13*	GS Capital	11/21/19	11/21/20		18,000			12.0	%
Note #14*	PowerUp	11/21/19	11/21/20		18,000			12.0	%
Total				$	251,148
less discount					(63,350	)
Net				$	187,798

*Note is currently in default.

Schedule of Fair Value Assumption

The variables used for the Black-Scholes model are as listed below:

	December 31, 2018	December 31, 2019
●	Volatility: 253% - 286%	Volatility: 191% - 455%
●	Risk free rate of return: 1.24%- 1.53%	Risk free rate of return: 1.93% - 1.99%
●	Expected term: 1-3 years	Expected term: 1-3 years

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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Schedule of Deferred Tax Assets

Deferred tax assets consist of the following components:

	2019			2018
Net loss carryforward	$	1,265,000		$	1,252,000
Valuation allowance		(1,265,000	)		(1,252,000	)
Total deferred tax assets	$			$	-

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Basis of Presentation and Organization (Details Narrative) - Vikram Grover [Member] - USD ($)		12 Months Ended
	Mar. 06, 2019	Dec. 31, 2019
Compensation paid, per month	$ 12,500	$ 12,500
Compensation paid on cash, per month	$ 5,000	7,500
Accrued compensation		$ 5,000
Number of common stock purchase warrants to be issued		100,000,000
Exercise price, per share		$ 0.001
Expiration of warrants		3 years
Additional common stock purchase warrants, description		If the Company's common stock closed over $0.01 for 10 consecutive trading sessions, Mr. Grover was to be issued an additional 100 million common stock purchase warrants with a $0.001 strike price and a three-year expiration.

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Summary of Significant Accounting Policies (Details Narrative) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Accounting Policies [Abstract]
Cash	$ 63	$ 1

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Summary of Significant Accounting Policies - Schedule of Fair Value of Assets and Liabilities (Details) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Investments	$ 189,000
Total assets measures at fair value	189,000
Derivative liability	893,171	876,058
Total liabilities measured at fair value	893,171	876,058
Level 1 [Member]
Investments	189,000
Total assets measures at fair value	189,000
Derivative liability
Total liabilities measured at fair value
Level 2 [Member]
Investments
Total assets measures at fair value
Derivative liability
Total liabilities measured at fair value
Level 3 [Member]
Investments
Total assets measures at fair value
Derivative liability	893,171	876,058
Total liabilities measured at fair value	$ 893,171	$ 876,258

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Summary of Significant Accounting Policies - Schedule of Reconciliation of Derivative Liability (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Accounting Policies [Abstract]
Balance, beginning	$ 876,058	$ 1,030,132
Fair value of derivative liabilities issued	134,115	400,078
Loss on conversions		(710,076)
Gain (loss) on change in derivative liabilities	69,576	155,924
Reclassify to equity upon payoff or conversion	(186,578)
Balance, ending	$ 893,171	$ 876,058

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Going Concern (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accumulated deficit	$ (6,025,926)	$ (5,960,691)
Working capital	(1,430,863)
Operating loss	$ (212,708)	$ (291,641)

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Investments (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	May 02, 2014
Share price	$ 0.0009
Investment amount	$ 189,000
Loss on investment	$ (247,220)
Mobicard Inc [Member]
Number of shares exchanged	210,000,000
Share price			$ 0.0023
Investment amount			$ 483,000
Loss on investment	$ 294,000
Kanab Corp [Member]
Share price	$ 0.0001
Number of shares received for services	1,000,000
Preferred Class B [Member]
Number of shares issued	400,000

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Vehicle Deposits (Details Narrative) - USD ($)	3 Months Ended
	Dec. 31, 2018	Dec. 31, 2019
Deposits [Abstract]
Vehicle deposits		$ 24,405
Wrote-off value on vehicle deposit	$ 0

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License Agreement (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
License [Member]
Total payment incurred for license agreement	$ 50,000	$ 50,000

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Loans Payable Due to Related Parties (Details Narrative) - USD ($)			12 Months Ended
	Sep. 27, 2017	Jul. 01, 2017	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2014
Outstanding balance			$ 0	$ 0
Interest expense on loans			$ 18,032	$ 1,160,030
Common stock, shares converted			1,242,231,661	53,347,701
Amortization of debt discount			$ 244,085	$ 139,885
Shareholder, Control Party [Member]
Interest expense on loans				8,568
Loan Payable Agreement [Member]
Loan maturity date		Sep. 15, 2017
Outstanding balance					$ 17,100
Interest expense on loans		$ 1,500		14,259	1,500
Loan payable related party		$ 14,100
Option to purchase shares of common stock		1,000,000
Option exercise price per share		$ 0.015
Fair value of options		$ 26,746
Amortization of debt discount		$ 14,100			14,100
Accrued penalty					1,750
Penalty per day					100
Loans payable due to related parties				$ 7,750
Loan Payable Agreement [Member] | Derivative [Member]
Interest expense on loans					1,500
Note Amendment [Member]
Debt instrument, maturity date, description	On September 27, 2017, the Company entered into a note amendment, whereby, the term of the note was extended until November 1, 2017
Finance fee amount	$ 1,500
Late fee amount	$ 1,500
Loan Payable Agreement 1 [Member]
Loan maturity date	Nov. 01, 2017
Outstanding balance					17,500
Common stock, shares converted				84,770,115
Loan payable related party	$ 17,500
Option to purchase shares of common stock	1,000,000
Option exercise price per share	$ 0.015
Fair value of options	$ 22,945
Amortization of debt discount	14,100				14,100
Finance fee amount					3,400
Accrued penalty					1,750
Penalty per day					100
Loans payable due to related parties					$ 7,750
Loan funding fee	1,750
Loan processing fee	1,650
Proceeds from related party debt	$ 14,100
Loan One [Member]
Due to a shareholder						$ 100,000
Loan bears interest rate						12.00%
Loan maturity date						Feb. 28, 2015
Loan Two [Member]
Due to a shareholder						$ 100,000
Loan bears interest rate						12.00%
Loan maturity date						Mar. 30, 2015
Loan [Member]
Loan maturity date						Apr. 01, 2018

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Convertible Note Payables (Details Narrative) - USD ($)																	12 Months Ended
	Dec. 06, 2019	Nov. 18, 2019	Nov. 14, 2019	Nov. 12, 2019	Sep. 06, 2019	Jul. 09, 2019	May 13, 2019	Mar. 08, 2019	Nov. 01, 2018	Oct. 02, 2018	Jul. 23, 2018	Apr. 27, 2018	Apr. 11, 2018	Feb. 22, 2018	Jan. 24, 2018	Jan. 06, 2017	Dec. 31, 2019	Dec. 31, 2018
Debt payment percentage																150.00%
Convertible note payables																	$ 60,522
Debt conversion shares issued, value																	$ 255,334
Debt conversion shares issued																	1,242,231,661	53,347,701
Amortized of debt discount																	$ 244,085	$ 139,885
Convertible Note Agreement [Member]
Debt interest rate							12.00%
Convertible note payables							$ 12,500
Debt maturity date							Sep. 15, 2019
Convertible Note Payables [Member]
Debt conversion shares issued, value																	$ 231,444
Debt conversion shares issued																	1,153,211,664
Amortized of debt discount																	$ 100,299	$ 158,635
Third Parties [Member]
Debt interest rate			10.00%	10.00%	12.00%	12.00%		12.00%									22.00%
Debt conversion shares issued	72,800,000	89,000,000
Borrowed amount	$ 2,350	$ 2,170	$ 18,000	$ 18,000	$ 35,000	$ 35,000		$ 28,000
Debt maturity date			Nov. 14, 2020	Nov. 12, 2020	Sep. 06, 2020	Apr. 30, 2020		Jan. 15, 2020
Legal fees		$ 500	$ 12,500	$ 15,500	$ 30,500	$ 32,000		$ 25,000
Third Parties [Member] | Unsecured Convertible Note Agreement [Member]
Convertible note payables									$ 14,700	$ 11,500	$ 21,000	$ 21,500	$ 15,000	$ 43,000	$ 35,000
Proceeds from financing fees									$ 14,700	$ 11,500	$ 21,000	$ 21,500	$ 15,000	$ 43,000	$ 35,000
Third Parties [Member] | Minimum [Member]
Debt interest rate																	10.00%
Third Parties [Member] | Maximum [Member]
Debt interest rate																	12.00%

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Convertible Note Payables - Schedule of Derivative Liability in Accompanying Interim Financial Statements (Details)	12 Months Ended
	Dec. 31, 2019 USD ($)
Total convertible notes payable	$ 251,148
less discount	(63,350)
Convertible note payables, net	$ 187,798
Note #1 [Member]
Lender	Auctus	[1]
Origination Date	Jan. 06, 2017	[1]
Maturity	Oct. 06, 2017	[1]
Interest	24.00%	[1]
Total convertible notes payable	$ 60,522	[1]
Note #2 [Member]
Lender	Crown Bridge	[1]
Origination Date	Sep. 15, 2017	[1]
Maturity	Sep. 15, 2018	[1]
Interest	15.00%	[1]
Total convertible notes payable	$ 3,240	[1]
Note #5 [Member]
Lender	Jabro 1	[1]
Origination Date	Jul. 23, 2018	[1]
Maturity	Apr. 30, 2019	[1]
Interest	22.00%	[1]
Total convertible notes payable	$ 21,000	[1]
Note #6 [Member]
Lender	Jabro 2	[1]
Origination Date	Oct. 01, 2018	[1]
Maturity	Jul. 15, 2019	[1]
Interest	22.00%	[1]
Total convertible notes payable	$ 11,500	[1]
Note #7 [Member]
Lender	PowerUp 9	[1]
Origination Date	Nov. 01, 2018	[1]
Maturity	Aug. 30, 2019	[1]
Interest	22.00%	[1]
Total convertible notes payable	$ 14,700	[1]
Note #8 [Member]
Lender	PowerUp 10	[1]
Origination Date	Mar. 08, 2019	[1]
Maturity	Jan. 15, 2020	[1]
Interest	12.00%	[1]
Total convertible notes payable	$ 28,000	[1]
Note #9 [Member]
Lender	Other	[1]
Origination Date	Mar. 16, 2017	[1]
Maturity	Apr. 01, 2018	[1]
Interest	12.00%	[1]
Total convertible notes payable	$ 10,000	[1]
Note #10 [Member]
Lender	Tri-Bridge	[1]
Origination Date	Mar. 15, 2019	[1]
Maturity	Sep. 15, 2019	[1]
Interest	10.00%	[1]
Total convertible notes payable	$ 2,286	[1]
Note #11 [Member]
Lender	PowerUp 11	[1]
Origination Date	Jul. 09, 2019	[1]
Maturity	Apr. 30, 2020	[1]
Interest	12.00%	[1]
Total convertible notes payable	$ 35,000	[1]
Note #12 [Member]
Lender	GS Capital	[1]
Origination Date	Sep. 06, 2019	[1]
Maturity	Sep. 06, 2020	[1]
Interest	12.00%	[1]
Total convertible notes payable	$ 28,900	[1]
Note #14 [Member]
Lender	GS Capital	[1]
Origination Date	Nov. 21, 2019	[1]
Maturity	Nov. 20, 2020	[1]
Interest	12.00%	[1]
Total convertible notes payable	$ 18,000	[1]
Note #13 [Member]
Lender	PowerUp	[1]
Origination Date	Nov. 21, 2019	[1]
Maturity	Nov. 21, 2020	[1]
Interest	12.00%	[1]
Total convertible notes payable	$ 18,000	[1]

[1] Note is currently in default.

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Convertible Note Payables - Schedule of Fair Value Assumption (Details)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Minimum [Member]
Expected term	1 year	1 year
Maximum [Member]
Expected term	3 years	3 years
Measurement Input, Price Volatility [Member] | Minimum [Member]
Fair value assumptions, measurement input, percentages	191	253
Measurement Input, Price Volatility [Member] | Maximum [Member]
Fair value assumptions, measurement input, percentages	455	286
Measurement Input, Risk Free Interest Rate [Member] | Minimum [Member]
Fair value assumptions, measurement input, percentages	1.93	1.24
Measurement Input, Risk Free Interest Rate [Member] | Maximum [Member]
Fair value assumptions, measurement input, percentages	1.99	1.53

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Commitments and Contingencies (Details Narrative) - USD ($)				3 Months Ended	12 Months Ended
	Nov. 25, 2019	Nov. 01, 2019	Mar. 01, 2014	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Lease monthly payment			$ 2,200
Lease term expiration date			Apr. 30, 2017
Rent expense					$ 0	$ 13,400
On or before December 5, 2019 [Member]
Shares issued for settlement	300,000,000
On or before January 6, 2020 [Member]
Shares issued for settlement	300,000,000
On or before February 5, 2020 [Member]
Shares issued for settlement	300,000,000
On or before March 5, 2020 [Member]
Shares issued for settlement	300,000,000
On or before April 6, 2020 [Member]
Shares issued for settlement	300,000,000
Settlement Agreement [Member]
Accrued liability					260,000
Auctus Fund, LLC [Member]
Interest and penalties		$ 283,000
Auctus Fund, LLC [Member] | Settlement Agreement [Member]
Accrued interest	$ 60,522
Shares issued for settlement	1,500,000,000
Aoxin License [Member]
Wrote down the value				$ 0
Industrial Lease [Member]
Rent expense					$ 0	$ 0

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Revolving Line of Credit- Related Party (Details Narrative)		12 Months Ended
	Feb. 12, 2016 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($) Integer $ / shares
Derivative liability		$ 0	$ 0
Interest expense		18,032	$ 1,160,030
Conversion of debt into common stock | $ / shares			$ 53,347,701
Outstanding balance on loan		0
Revolving Line of Credit Agreement [Member]
Line of credit amount	$ 100,000
Line of credit interest rate	12.00%
Line of credit due date			Jun. 30, 2018
Percentage of debt discount lowest trading price			50.00%
Debt discount lowest trading days | Integer			15
Derivative liability		227,760
Debt discount		101,400
Interest expense		$ 126,360

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Income Taxes (Details Narrative) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Operating loss carryforwards	$ 6,000,000	$ 6,000,000

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Income Taxes - Schedule of Deferred Tax Assets (Details) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Net loss carryforward	$ 1,265,000	$ 1,252,000
Valuation allowance	(1,265,000)	(1,252,000)
Total deferred tax assets

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Warrants and Options (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2019	Jul. 22, 2019	Mar. 19, 2019
Warrants outstanding	40,000,000
Weighted average life of warrants	2 years 3 months 11 days
Intrinsic value of warrants	$ 0
EDGE FiberNet, Inc. [Member]
Number of common stock purchase warrants shares	10,000,000		10,000,000
Warrant strike price per share	$ 0.005		$ 0.005
Warrants term	3 years		3 years
Three Members Advisory Board [Member]
Number of common stock purchase warrants shares	30,000,000
Warrant strike price per share	$ 0.01
Warrants term	3 years
Vikram Grover [Member]
Number of common stock purchase warrants shares	100,000,000	100,000,000
Warrant strike price per share	$ 0.001
Warrants description	Our CEO, Vikram Grover, was to be issued 100 million warrants with a strike price of $0.001 upon bringing the Company current with its SEC reporting requirements, with an additional 100 million warrants with a strike price of $0.001 due upon our common stock closing at or above $0.01 for ten consecutive trading sessions.
Forfeiture of warrants	100,000,000
Expense related to warrants	$ 16,803
Vikram Grover [Member] | Additional Warrants [Member]
Number of common stock purchase warrants shares	100,000,000
Warrant strike price per share	$ 0.001

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Equity (Details Narrative) - USD ($)															12 Months Ended
	Nov. 06, 2020	Dec. 06, 2019	Nov. 18, 2019	Nov. 14, 2019	Nov. 12, 2019	Sep. 06, 2019	Jul. 09, 2019	May 15, 2019	May 05, 2019	Apr. 08, 2019	Apr. 07, 2019	Mar. 27, 2019	Mar. 08, 2019	Mar. 06, 2019	Dec. 31, 2019	Dec. 31, 2018
Authorized shares															The Company increased the authorized shares for common stock of the Company from three billion to then (10) billion and for preferred shares from ten (10) million to one hundred (100) million.	The Company increased its authorized shares two times, first from 300 million to one billion, and later from one billion to three billion.
Debt conversion shares issued															1,242,231,661	53,347,701
Debt conversion shares issued, value															$ 255,334
Preferred stock voting rights														Each share converts into one common share, has 10,000 votes on every corporate matter requiring a shareholder vote, has a par value of $0.0001, and pays an annual dividend at the option of the Company of $0.01.
BKS Cambria, LLC & United Biorefineries Inc [Member]
Demand letter issued												We issued a demand letter to BKS Cambria, LLC ("BKS") and United Biorefineries, Inc. ("United") to return 84,770,115 and 53,347,701 of our common stock shares in certificate form, respectively, that may have been invalidly issued by prior management to the corporate entities they controlled. BKS and United failed to respond to our demand letter by the demand date and we have not received the foregoing share amounts in certificate form from either BKS or United. UBC has electronically responded, denied any wrongdoing, and refuses to return the certificates. We are evaluating our legal remedies regarding these share issuances.
Vikram Grover [Member] | Mobicard Inc [Member] | Securities Purchase Agreement [Member]
Number of shares issued, value									$ 483,000
Number of shares issued									210,000,000
Board of Directors [Member] | Former Management, Employees, Affiliates and Representatives [Member]
Number of shares issued								162,846,149
Third Parties [Member]
Debt conversion shares issued		72,800,000	89,000,000
Borrowed amount		$ 2,350	$ 2,170	$ 18,000	$ 18,000	$ 35,000	$ 35,000						$ 28,000
Legal fees and due diligence expenses			$ 500	$ 12,500	$ 15,500	$ 30,500	$ 32,000						$ 25,000
Debt interest		$ 1,290
Series C Preferred Stock [Member]
Authorized shares	The Company increased the authorized Series C Preferred Shares to two (2) million from one (1) million
Preferred stock, shares authorized														1,000,000
Preferred stock voting rights	The voting rights of the Series C Preferred shares to 100,000 for every one (1) share from 10,000 for every one (1) share.
Preferred stock, par value														$ 0.0001
Dividend of option per share														$ 0.01
Series B Preferred Stock [Member]
Authorized shares	The Company increased the authorized number of Series B Preferred Shares to twenty million from six million to facilitate mergers and acquisitions.
Preferred stock, shares authorized											6,000,000
Preferred stock, par value											$ 0.001
Number of stock converted											1,000
Annual dividend in cash or in kind											$ 0.01
Conversion of stock description											Each share converts into 1,000 common shares, votes on an as converted basis, has a par value of $0.001, and pays a cumulative annual dividend in cash or in kind of $0.01.
Series A Preferred Stock [Member]
Preferred stock, shares authorized										3,000,000
Preferred stock voting rights										Each share was convertible into one common share and had 50 votes on corporate matters.
Number of stock transferred										2,000,000
Series A Preferred Stock [Member] | Minimum [Member]
Preferred stock, par value
Series A Preferred Stock [Member] | Maximum [Member]
Preferred stock, par value										$ 0.0001
1% Cumulative Series B Preferred Shares Series B Preferred Shares [Member] | Vikram Grover [Member] | Mobicard Inc [Member] | Securities Purchase Agreement [Member]
Number of shares issued									400,000

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Subsequent Events (Details Narrative) - USD ($)																															1 Months Ended	10 Months Ended	12 Months Ended
	Dec. 02, 2020	Nov. 02, 2020	Oct. 28, 2020	Oct. 25, 2020	Oct. 20, 2020	Oct. 19, 2020	Oct. 09, 2020	Oct. 08, 2020	Oct. 02, 2020	Sep. 30, 2020	Sep. 04, 2020	Sep. 03, 2020	Aug. 31, 2020	Aug. 27, 2020	Aug. 26, 2020	Feb. 18, 2020	Feb. 05, 2020	Feb. 03, 2020	Jan. 08, 2020	Dec. 06, 2019	Nov. 18, 2019	Nov. 14, 2019	Nov. 12, 2019	Oct. 12, 2019	Sep. 06, 2019	Jul. 09, 2019	May 09, 2019	Mar. 19, 2019	Mar. 08, 2019	Mar. 06, 2019	Oct. 08, 2020	Oct. 23, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 06, 2020	Nov. 03, 2020	Jun. 04, 2020	Jul. 22, 2019	Apr. 12, 2019	Mar. 10, 2019
Debt conversion shares issued																																	1,242,231,661	53,347,701
Shares issued for accrued compensation																																		$ 57,500
Original issue discount																																	$ 63,350
EDGE FiberNet, Inc [Member]
Number of common stock purchase warrants shares																												10,000,000					10,000,000
Warrant strike price per share																												$ 0.005					$ 0.005
Warrants term																												3 years					3 years
Management Transition Plan [Member]
Agreement description																														The Company agreed to transfer to prior Management eighty (80) percent ownership of its Nevada subsidiary, 2050 Motors ("2050 Private" or "TFPC") in exchange for a corporate note from TFPC in the amount of fifty thousand dollars at 8% interest per annum to be paid out of net profits. 2050 Motors (2050 Public) agreed to appoint William Fowler as President of 2050 Private to raise operating capital for expenses to negotiate terms and conditions to maintain Exclusive License with Aoxin Motors. Subsequent to the change of control and based on due diligence on TFPM and the status of the Aoxin Motors relationship, on or around April 2, 2019, we terminated the transaction as we deemed that it was not in the best interests of shareholders. We continued to demand information regarding TFPC from former management but have received unresponsive and unsatisfactory responses to our inquiries.
Third Parties [Member]
Borrowed amount																				$ 2,350	$ 2,170	$ 18,000	$ 18,000		$ 35,000	$ 35,000			$ 28,000
Debt conversion shares issued																				72,800,000	89,000,000
Debt interest																				$ 1,290
Legal fees and penalties due diligence expenses																					$ 500	$ 12,500	$ 15,500		$ 30,500	$ 32,000			$ 25,000
Vikram Grover [Member]
Number of common stock purchase warrants shares																																	100,000,000					100,000,000
Warrant strike price per share																																	$ 0.001
Warrants description																																	Our CEO, Vikram Grover, was to be issued 100 million warrants with a strike price of $0.001 upon bringing the Company current with its SEC reporting requirements, with an additional 100 million warrants with a strike price of $0.001 due upon our common stock closing at or above $0.01 for ten consecutive trading sessions.
Aldo Baiocchi [Member]
Number of common stock purchase warrants shares																																								10,000,000
Warrant strike price per share																																								$ 0.01
Warrants term																																								3 years
Ted Flomenhaft [Member]
Number of common stock purchase warrants shares																																								10,000,000
Warrant strike price per share																																								$ 0.01
Warrants term																																								3 years
FiberNet, Inc [Member]
Agreement description																												As part of the Agreement, we received an option on 4,000 square feet of office/retail space at EDGE FiberNet's headquarters in Industry City, Brooklyn, New York.
Michael Shevack [Member]
Number of common stock purchase warrants shares																																							10,000,000
Warrant strike price per share																																							$ 0.01
Warrants term																																							3 years
Charles Szoradi [Member]
Number of common stock purchase warrants shares																											10,000,000
Warrant strike price per share																											$ 0.01
Warrants term																											3 years
Warrants description																											Which were subsequently canceled bur reinstated as part of the Purge Virus, LLC acquisition at a strike price of $0.001. As part of the October 19, 2020 acquisition of 100% of the member interests of Purge Virus, LLC from Mr. Szoradi, the Company will appoint him to the Board of Directors upon retention of Directors and Officers insurance (D&O).
Dr. Wayman Baker [Member]
Number of common stock purchase warrants shares																								10,000,000
Warrant strike price per share																								$ 0.01
Warrants term																								3 years
Warrants description																								Whose strike price was subsequently amended to $0.001 in 2020.
Subsequent Event [Member] | PPE Source International LLC [Member]
Ownership percentage description						We closed the acquisition of 100% of the member interests of Purge Virus, LLC from Charles Szoradi for consideration of two million (2,000,000) Series B Preferred Shares. The purchase maintains PV as a 100% owned subsidiary of FOMO CORP., includes cross-selling relationships with Mr. Szoradi's 100% owned LED company Independence LED and 33% owned energy management software company Energy Intelligence Center (EIC), and JV partner Company PPE Source International LLC.			We issued John Kelly, owner of PPE Source International LLC (PPESI), a provider of PPE to small, medium and large businesses, institutions and government customers, 100,000 Series B Preferred Shares for a 180-day exclusive option to purchase his 100% member interests in PPESI.
Subsequent Event [Member] | PPP Loan [Member]
Note payable																																					$ 11,593
Subsequent Event [Member] | Restricted Series B Preferred Shares [Member]
Shares issued for accrued compensation, shares																																275,000
Subsequent Event [Member] | Third Parties [Member]
Borrowed amount																$ 7,000	$ 4,682	$ 5,600	$ 5,300
Debt conversion shares issued																116,666,667	93,640,000	112,000,000	106,000,000
Subsequent Event [Member] | Vikram Grover [Member] | Series B Preferred Stock [Member]
Shares issued for accrued compensation															$ 125,000
Shares issued for accrued compensation, shares															25,000
Subsequent Event [Member] | Vikram Grover [Member] | Restricted Series B Preferred Shares [Member]
Shares issued for accrued compensation							$ 93,750					$ 137,065
Shares issued for accrued compensation, shares							37,500					1,370,065
Subsequent Event [Member] | Third-Party Lender [Member]
Borrowed amount					$ 0			$ 21,239		$ 20,230	$ 58		$ 2,950	$ 6,100																	$ 21,239
Debt conversion shares issued					202,159,667			188,792,200		179,819,200	112,318,333		115,000,000																		611,005,229
Debt interest					$ 86			$ 7,080		$ 6,743	$ 2,812			$ 948
Legal fees and penalties due diligence expenses					$ 30,238						$ 500		$ 500
Conversion of warrants																															$ 25,000
Subsequent Event [Member] | Third-Party Lender [Member] | Restricted Common Share [Member]
Debt conversion shares issued														128,144,181
Subsequent Event [Member] | Third Party Lender [Member]
Borrowed amount		$ 10,944
Debt conversion shares issued	222,838,600	212,247,469		435,086,069
Debt interest		$ 94
Legal fees and penalties due diligence expenses	$ 55,710	$ 20,799
Debt instrument conversion description				The Company and a third party lender amended a prior settlement agreement effected in 2019 to require the issuance of seven hundred ninety four million, forty one thousand, one hundred thirty three (794,041,133) Settlement Shares of common stock, as follows: a) publicly tradeable shares of common stock (the "Settlement Shares" or the "Shares") to be converted, transferred and delivered to the third party lender, in whole or in part pursuant to the third party lender's notice: 1) on or before November 1, 2020 - 264,680,377 Settlement Shares, in whole or in part as determined by the third party lender, in its discretion; plus 2) on or before December 1, 2020 - 264,680,378 Settlement Shares, in whole or in part as determined by the third party lender, in its discretion; plus 3) on or before January 1, 2021 - 264,680,378 Settlement Shares, in whole or in part, as determined by the third party lender, in its discretion. Remaining shares, which have already been reserved, will settle the balance of the November 2019 $283,000.00 lawsuit brought by the third-party lender against the Company.
Subsequent Event [Member] | Third Party Lender [Member] | Redeemable Convertible Note [Member]
Borrowed amount			$ 115,000
Legal fees and penalties due diligence expenses			5,000
Original issue discount			10,000
Broker fees			2,000
Debt instrument netted amount			$ 98,000
Subsequent Event [Member] | Aldo Baiocchi [Member]
Number of common stock purchase warrants shares	10,000,000
Warrant strike price per share	$ 0.01
Reduced warrant strike price per share	$ 0.001
Subsequent Event [Member] | Dr. Wayman Baker [Member]
Number of common stock purchase warrants shares																																				10,000,000
Warrant strike price per share																																				$ 0.01
Reduced warrant strike price per share																																				$ 0.001
Subsequent Event [Member] | Paul Benis [Member]
Number of common stock purchase warrants shares																																			10,000,000
Warrant strike price per share																																			$ 0.001
Warrants term																																			3 years