|
Document - Document and Entity Information |
Document - Document and Entity Information (USD $) |
12 Months Ended |
|
|
( custom:DocumentAndEntityInformationAbstract [Extension] ) |
|
|
|
|
Dec. 31, 2019 |
Jun. 30, 2019 |
Mar. 12, 2020 |
|
|
|
|
|
|
|
|
|
|
|
|
Entity Registrant Name |
GOOD GAMING, INC. | |
| |
| |
( dei:EntityRegistrantName ) |
| |
| |
| |
Entity Central Index Key |
0001454742 | |
| |
| |
( dei:EntityCentralIndexKey ) |
| |
| |
| |
Document Type |
10-K | |
| |
| |
( dei:DocumentType ) |
| |
| |
| |
Document Period End Date |
2019-12-31 | |
| |
| |
( dei:DocumentPeriodEndDate ) |
| |
| |
| |
Amendment Flag |
false | |
| |
| |
( dei:AmendmentFlag ) |
| |
| |
| |
Current Fiscal Year End Date |
--12-31 | |
| |
| |
( dei:CurrentFiscalYearEndDate ) |
| |
| |
| |
Entity a Well-known Seasoned Issuer |
No | |
| |
| |
( dei:EntityWellKnownSeasonedIssuer ) |
| |
| |
| |
Entity a Voluntary Filer |
Yes | |
| |
| |
( dei:EntityVoluntaryFilers ) |
| |
| |
| |
Entity Current Reporting Status |
Yes | |
| |
| |
( dei:EntityCurrentReportingStatus ) |
| |
| |
| |
Entity Interactive Data Current |
Yes | |
| |
| |
( dei:EntityInteractiveDataCurrent ) |
| |
| |
| |
Entity Filer Category |
Non-accelerated Filer | |
| |
| |
( dei:EntityFilerCategory ) |
| |
| |
| |
Entity Small Business Flag |
true | |
| |
| |
( dei:EntitySmallBusiness ) |
| |
| |
| |
Entity Emerging Growth Company |
false | |
| |
| |
( dei:EntityEmergingGrowthCompany ) |
| |
| |
| |
Entity Shell Company |
false | |
| |
| |
( dei:EntityShellCompany ) |
| |
| |
| |
Entity Public Float |
| |
393,180 | |
| |
( dei:EntityPublicFloat ) |
| |
| |
| |
Entity Common Stock, Shares Outstanding |
| |
| |
53,988,755 | |
( dei:EntityCommonStockSharesOutstanding ) |
| |
| |
| |
Document Fiscal Period Focus |
FY | |
| |
| |
( dei:DocumentFiscalPeriodFocus ) |
| |
| |
| |
Document Fiscal Year Focus |
2019 | |
| |
| |
( dei:DocumentFiscalYearFocus ) |
| |
| |
| |
|
(End Document - Document and Entity Information) |
|
Statement - Balance Sheets |
Statement - Balance Sheets (USD $) |
|
|
|
|
|
|
|
( us-gaap:StatementOfFinancialPositionAbstract ) |
|
|
|
|
|
|
|
|
Dec. 31, 2019 |
Dec. 31, 2018 |
Dec. 31, 2019 |
Dec. 31, 2018 |
Dec. 31, 2019 |
Dec. 31, 2018 |
Dec. 31, 2019 |
( dei:LegalEntityAxis ) |
|
|
|
|
|
|
|
|
|
|
Series A Preferred Stock [Member] |
Series A Preferred Stock [Member] |
Series B Preferred Stock [Member] |
Series B Preferred Stock [Member] |
Series C Preferred Stock [Member] |
( dei:EntityDomain ) |
|
|
|
|
|
|
|
ASSETS |
| |
| |
| |
| |
| |
| |
| |
( us-gaap:AssetsAbstract ) |
| |
| |
| |
| |
| |
| |
| |
Current Assets |
| |
| |
| |
| |
| |
| |
| |
( us-gaap:AssetsCurrentAbstract ) |
| |
| |
| |
| |
| |
| |
| |
Cash and Cash Equivalents |
2,022 | |
12,449 | |
| |
| |
| |
| |
| |
( us-gaap:CashAndCashEquivalentsAtCarryingValue ) |
| |
| |
| |
| |
| |
| |
| |
Prepaid expenses- related party |
8,750 | |
10,000 | |
| |
| |
| |
| |
| |
( us-gaap:PrepaidExpenseCurrent ) |
| |
| |
| |
| |
| |
| |
| |
Total Current Assets |
10,772 | |
22,449 | |
| |
| |
| |
| |
| |
( us-gaap:AssetsCurrent ) |
| |
| |
| |
| |
| |
| |
| |
Furniture and Equipment, Net |
5,180 | |
28,853 | |
| |
| |
| |
| |
| |
( us-gaap:PropertyPlantAndEquipmentNet ) |
| |
| |
| |
| |
| |
| |
| |
Gaming Software, Net |
— | |
450,000 | |
| |
| |
| |
| |
| |
( us-gaap:CapitalizedComputerSoftwareNet ) |
| |
| |
| |
| |
| |
| |
| |
TOTAL ASSETS |
15,952 | |
501,302 | |
| |
| |
| |
| |
| |
( us-gaap:Assets ) |
| |
| |
| |
| |
| |
| |
| |
LIABILITIES & STOCKHOLDERS' DEFICIT |
| |
| |
| |
| |
| |
| |
| |
( us-gaap:LiabilitiesAndStockholdersEquityAbstract ) |
| |
| |
| |
| |
| |
| |
| |
Current Liabilities |
| |
| |
| |
| |
| |
| |
| |
( us-gaap:LiabilitiesCurrentAbstract ) |
| |
| |
| |
| |
| |
| |
| |
Accounts Payable and Accrued Expenses |
133,260 | |
111,973 | |
| |
| |
| |
| |
| |
( us-gaap:AccountsPayableAndAccruedLiabilitiesCurrent ) |
| |
| |
| |
| |
| |
| |
| |
Derivative Liability |
777,118 | |
574,797 | |
| |
| |
| |
| |
| |
( us-gaap:DerivativeLiabilitiesCurrent ) |
| |
| |
| |
| |
| |
| |
| |
Notes Payable- related party |
13,440 | |
13,440 | |
| |
| |
| |
| |
| |
( us-gaap:NotesPayableRelatedPartiesClassifiedCurrent ) |
| |
| |
| |
| |
| |
| |
| |
Convertible Debentures, current |
100,260 | |
100,260 | |
| |
| |
| |
| |
| |
( us-gaap:ConvertibleDebtCurrent ) |
| |
| |
| |
| |
| |
| |
| |
Notes Payable - ViaOne Services |
1,738,295 | |
1,316,484 | |
| |
| |
| |
| |
| |
( us-gaap:NotesPayableCurrent ) |
| |
| |
| |
| |
| |
| |
| |
Total Current Liabilities |
2,762,373 | |
2,116,954 | |
| |
| |
| |
| |
| |
( us-gaap:LiabilitiesCurrent ) |
| |
| |
| |
| |
| |
| |
| |
Total Liabilities |
2,762,373 | |
2,116,954 | |
| |
| |
| |
| |
| |
( us-gaap:Liabilities ) |
| |
| |
| |
| |
| |
| |
| |
Stockholders' Deficit |
| |
| |
| |
| |
| |
| |
| |
( us-gaap:StockholdersEquityAbstract ) |
| |
| |
| |
| |
| |
| |
| |
Preferred Stock |
| |
| |
8 | |
8 | |
69 | |
69 | |
1 | |
( us-gaap:PreferredStockValue ) |
| |
| |
| |
| |
| |
| |
| |
Common Stock Authorized: 100,000,000 Common Shares, With a Par Value of $0.001 Per Share; Issued and Outstanding: 53,988,755 Shares at December 31, 2019 and 49,717,922 Shares at December 31, 2018 |
53,988 | |
49,718 | |
| |
| |
| |
| |
| |
( us-gaap:CommonStockValue ) |
| |
| |
| |
| |
| |
| |
| |
Additional Paid-In Capital |
4,210,995 | |
4,215,264 | |
| |
| |
| |
| |
| |
( us-gaap:AdditionalPaidInCapital ) |
| |
| |
| |
| |
| |
| |
| |
Accumulated Deficit |
(7,011,482 | ) |
(5,880,713 | ) |
| |
| |
| |
| |
| |
( us-gaap:RetainedEarningsAccumulatedDeficit ) |
| |
| |
| |
| |
| |
| |
| |
Total Stockholders' Deficit |
(2,746,421 | ) |
(1,615,652 | ) |
| |
8 | |
| |
69 | |
| |
( us-gaap:StockholdersEquity ) |
| |
| |
| |
| |
| |
| |
| |
TOTAL LIABILITIES & DEFICIT |
15,952 | |
501,302 | |
| |
| |
| |
| |
| |
( us-gaap:LiabilitiesAndStockholdersEquity ) |
| |
| |
| |
| |
| |
| |
| |
|
Table continued from above |
|
Statement - Balance Sheets (USD $) |
|
|
|
( us-gaap:StatementOfFinancialPositionAbstract ) |
|
|
|
|
Dec. 31, 2018 |
Dec. 31, 2019 |
Dec. 31, 2018 |
( dei:LegalEntityAxis ) |
|
|
|
|
Series C Preferred Stock [Member] |
Series D Preferred Stock [Member] |
Series D Preferred Stock [Member] |
( dei:EntityDomain ) |
|
|
|
ASSETS |
| |
| |
| |
( us-gaap:AssetsAbstract ) |
| |
| |
| |
Current Assets |
| |
| |
| |
( us-gaap:AssetsCurrentAbstract ) |
| |
| |
| |
Cash and Cash Equivalents |
| |
| |
| |
( us-gaap:CashAndCashEquivalentsAtCarryingValue ) |
| |
| |
| |
Prepaid expenses- related party |
| |
| |
| |
( us-gaap:PrepaidExpenseCurrent ) |
| |
| |
| |
Total Current Assets |
| |
| |
| |
( us-gaap:AssetsCurrent ) |
| |
| |
| |
Furniture and Equipment, Net |
| |
| |
| |
( us-gaap:PropertyPlantAndEquipmentNet ) |
| |
| |
| |
Gaming Software, Net |
| |
| |
| |
( us-gaap:CapitalizedComputerSoftwareNet ) |
| |
| |
| |
TOTAL ASSETS |
| |
| |
| |
( us-gaap:Assets ) |
| |
| |
| |
LIABILITIES & STOCKHOLDERS' DEFICIT |
| |
| |
| |
( us-gaap:LiabilitiesAndStockholdersEquityAbstract ) |
| |
| |
| |
Current Liabilities |
| |
| |
| |
( us-gaap:LiabilitiesCurrentAbstract ) |
| |
| |
| |
Accounts Payable and Accrued Expenses |
| |
| |
| |
( us-gaap:AccountsPayableAndAccruedLiabilitiesCurrent ) |
| |
| |
| |
Derivative Liability |
| |
| |
| |
( us-gaap:DerivativeLiabilitiesCurrent ) |
| |
| |
| |
Notes Payable- related party |
| |
| |
| |
( us-gaap:NotesPayableRelatedPartiesClassifiedCurrent ) |
| |
| |
| |
Convertible Debentures, current |
| |
| |
| |
( us-gaap:ConvertibleDebtCurrent ) |
| |
| |
| |
Notes Payable - ViaOne Services |
| |
| |
| |
( us-gaap:NotesPayableCurrent ) |
| |
| |
| |
Total Current Liabilities |
| |
| |
| |
( us-gaap:LiabilitiesCurrent ) |
| |
| |
| |
Total Liabilities |
| |
| |
| |
( us-gaap:Liabilities ) |
| |
| |
| |
Stockholders' Deficit |
| |
| |
| |
( us-gaap:StockholdersEquityAbstract ) |
| |
| |
| |
Preferred Stock |
1 | |
— | |
1 | |
( us-gaap:PreferredStockValue ) |
| |
| |
| |
Common Stock Authorized: 100,000,000 Common Shares, With a Par Value of $0.001 Per Share; Issued and Outstanding: 53,988,755 Shares at December 31, 2019 and 49,717,922 Shares at December 31, 2018 |
| |
| |
| |
( us-gaap:CommonStockValue ) |
| |
| |
| |
Additional Paid-In Capital |
| |
| |
| |
( us-gaap:AdditionalPaidInCapital ) |
| |
| |
| |
Accumulated Deficit |
| |
| |
| |
( us-gaap:RetainedEarningsAccumulatedDeficit ) |
| |
| |
| |
Total Stockholders' Deficit |
1 | |
| |
1 | |
( us-gaap:StockholdersEquity ) |
| |
| |
| |
TOTAL LIABILITIES & DEFICIT |
| |
| |
| |
( us-gaap:LiabilitiesAndStockholdersEquity ) |
| |
| |
| |
|
(End Statement - Balance Sheets) |
|
Statement - Balance Sheets (Parenthetical) |
Statement - Balance Sheets (Parenthetical) (USD $) |
|
|
|
|
|
|
|
( us-gaap:StatementOfFinancialPositionAbstract ) |
|
|
|
|
|
|
|
|
Dec. 31, 2019 |
Dec. 31, 2018 |
Dec. 31, 2019 |
Dec. 31, 2018 |
Dec. 31, 2019 |
Dec. 31, 2018 |
Dec. 31, 2019 |
( dei:LegalEntityAxis ) |
|
|
|
|
|
|
|
|
Series A Preferred Stock [Member] |
Series A Preferred Stock [Member] |
Series B Preferred Stock [Member] |
Series B Preferred Stock [Member] |
Series C Preferred Stock [Member] |
Series C Preferred Stock [Member] |
Series D Preferred Stock [Member] |
( dei:EntityDomain ) |
|
|
|
|
|
|
|
Preferred stock, shares authorized |
2,000,000 | |
2,000,000 | |
249,999 | |
249,999 | |
1 | |
1 | |
350 | |
( us-gaap:PreferredStockSharesAuthorized ) |
| |
| |
| |
| |
| |
| |
| |
Preferred stock, par value |
0.001 | |
0.001 | |
0.001 | |
0.001 | |
0.001 | |
0.001 | |
0.001 | |
( us-gaap:PreferredStockParOrStatedValuePerShare ) |
| |
| |
| |
| |
| |
| |
| |
Preferred stock, shares issued |
7,500 | |
7,500 | |
68,997 | |
68,997 | |
1 | |
1 | |
0 | |
( us-gaap:PreferredStockSharesIssued ) |
| |
| |
| |
| |
| |
| |
| |
Preferred stock, shares outstanding |
7,500 | |
7,500 | |
68,997 | |
68,997 | |
1 | |
1 | |
0 | |
( us-gaap:PreferredStockSharesOutstanding ) |
| |
| |
| |
| |
| |
| |
| |
Common stock, shares authorized |
| |
| |
| |
| |
| |
| |
| |
( us-gaap:CommonStockSharesAuthorized ) |
| |
| |
| |
| |
| |
| |
| |
Common stock, par value |
| |
| |
| |
| |
| |
| |
| |
( us-gaap:CommonStockParOrStatedValuePerShare ) |
| |
| |
| |
| |
| |
| |
| |
Common stock, shares issued |
| |
| |
| |
| |
| |
| |
| |
( us-gaap:CommonStockSharesIssued ) |
| |
| |
| |
| |
| |
| |
| |
Common stock, shares outstanding |
| |
| |
| |
| |
| |
| |
| |
( us-gaap:CommonStockSharesOutstanding ) |
| |
| |
| |
| |
| |
| |
| |
|
Table continued from above |
|
Statement - Balance Sheets (Parenthetical) (USD $) |
|
|
|
( us-gaap:StatementOfFinancialPositionAbstract ) |
|
|
|
|
Dec. 31, 2018 |
Dec. 31, 2019 |
Dec. 31, 2018 |
( dei:LegalEntityAxis ) |
|
|
|
|
Series D Preferred Stock [Member] |
|
|
( dei:EntityDomain ) |
|
|
|
Preferred stock, shares authorized |
350 | |
2,250,000 | |
| |
( us-gaap:PreferredStockSharesAuthorized ) |
| |
| |
| |
Preferred stock, par value |
0.001 | |
| |
| |
( us-gaap:PreferredStockParOrStatedValuePerShare ) |
| |
| |
| |
Preferred stock, shares issued |
1 | |
| |
| |
( us-gaap:PreferredStockSharesIssued ) |
| |
| |
| |
Preferred stock, shares outstanding |
1 | |
| |
| |
( us-gaap:PreferredStockSharesOutstanding ) |
| |
| |
| |
Common stock, shares authorized |
| |
100,000,000 | |
100,000,000 | |
( us-gaap:CommonStockSharesAuthorized ) |
| |
| |
| |
Common stock, par value |
| |
0.001 | |
0.001 | |
( us-gaap:CommonStockParOrStatedValuePerShare ) |
| |
| |
| |
Common stock, shares issued |
| |
53,988,755 | |
49,717,922 | |
( us-gaap:CommonStockSharesIssued ) |
| |
| |
| |
Common stock, shares outstanding |
| |
53,988,755 | |
49,717,922 | |
( us-gaap:CommonStockSharesOutstanding ) |
| |
| |
| |
|
(End Statement - Balance Sheets (Parenthetical)) |
|
Statement - Statement of Operations |
Statement - Statement of Operations (USD $) |
12 Months Ended |
( us-gaap:IncomeStatementAbstract ) |
|
|
Dec. 31, 2019 |
Dec. 31, 2018 |
|
|
|
|
|
|
|
|
|
Revenues |
49,519 | |
109,575 | |
( us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax ) |
| |
| |
Cost of Revenues |
23,020 | |
29,943 | |
( us-gaap:CostOfRevenue ) |
| |
| |
Gross Profit |
26,499 | |
79,632 | |
( us-gaap:GrossProfit ) |
| |
| |
Operating Expenses |
| |
| |
( us-gaap:OperatingExpensesAbstract ) |
| |
| |
General & Administrative |
54,966 | |
110,323 | |
( us-gaap:GeneralAndAdministrativeExpense ) |
| |
| |
Contract Labor |
36,328 | |
112,963 | |
( us-gaap:LaborAndRelatedExpense ) |
| |
| |
Payroll Expense |
— | |
41,986 | |
( us-gaap:SalariesWagesAndOfficersCompensation ) |
| |
| |
Depreciation and Amortization Expense |
455,416 | |
307,557 | |
( us-gaap:DepreciationAndAmortization ) |
| |
| |
Professional Fees |
358,732 | |
417,616 | |
( us-gaap:ProfessionalFees ) |
| |
| |
Total Operating Expenses |
905,442 | |
990,445 | |
( us-gaap:OperatingExpenses ) |
| |
| |
Operating Loss |
(878,943 | ) |
(910,813 | ) |
( us-gaap:OperatingIncomeLoss ) |
| |
| |
Other Income (Expense) |
| |
| |
( us-gaap:NonoperatingIncomeExpenseAbstract ) |
| |
| |
Loss on Stock Conversion |
— | |
(75,395 | ) |
( custom:LossOnStockConversion [Extension] ) |
| |
| |
Gain in Debt Settlement |
— | |
40,000 | |
( us-gaap:DebtSecuritiesGainLoss ) |
| |
| |
Loss on disposal of Fixed Assets |
(17,779 | ) |
— | |
( us-gaap:GainLossOnDispositionOfAssets1 ) |
| |
| |
Interest Income |
— | |
— | |
( us-gaap:InvestmentIncomeInterest ) |
| |
| |
Interest Expense |
(31,726 | ) |
(21,958 | ) |
( us-gaap:InterestExpense ) |
| |
| |
Gain (Loss) on Change in Fair Value of Derivative Liability |
(202,321 | ) |
(23,527 | ) |
( us-gaap:DerivativeGainLossOnDerivativeNet ) |
| |
| |
Total Other Income (Loss) |
(251,826 | ) |
(80,880 | ) |
( us-gaap:NonoperatingIncomeExpense ) |
| |
| |
Net Loss Before Discontinued Operations |
(1,130,769 | ) |
(991,693 | ) |
( us-gaap:DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax ) |
| |
| |
Discontinued Operations |
— | |
— | |
( us-gaap:IncomeLossFromDiscontinuedOperationsNetOfTax ) |
| |
| |
Net Loss |
(1,130,769 | ) |
(991,693 | ) |
( us-gaap:NetIncomeLoss ) |
| |
| |
Net Loss Per Share, Basic and Diluted |
(0.02 | ) |
(0.04 | ) |
( us-gaap:EarningsPerShareBasicAndDiluted ) |
| |
| |
Weighted Average Shares Outstanding |
53,921,421 | |
24,158,309 | |
( us-gaap:WeightedAverageNumberOfShareOutstandingBasicAndDiluted ) |
| |
| |
|
(End Statement - Statement of Operations) |
|
Statement - Statements of Cash Flows |
Statement - Statements of Cash Flows (USD $) |
12 Months Ended |
( us-gaap:StatementOfCashFlowsAbstract ) |
|
|
Dec. 31, 2019 |
Dec. 31, 2018 |
|
|
|
|
|
|
|
|
|
Operating Activities |
| |
| |
( us-gaap:NetCashProvidedByUsedInOperatingActivitiesAbstract ) |
| |
| |
Net Loss From Continuing Operations |
(1,130,769 | ) |
(991,693 | ) |
( us-gaap:NetIncomeLoss ) |
| |
| |
Adjustments To Reconcile Net Loss to Net Cash Used In Operating Activities- Continuing Operations |
| |
| |
( us-gaap:AdjustmentsNoncashItemsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract ) |
| |
| |
Depreciation and Amortization |
455,416 | |
307,557 | |
( us-gaap:DepreciationAndAmortization ) |
| |
| |
Gain on Debt Settlement |
— | |
(40,000 | ) |
( us-gaap:DebtSecuritiesGainLoss ) |
| |
| |
Change In Fair Value Of Derivative Liability |
202,321 | |
(23,527 | ) |
( us-gaap:DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet ) |
| |
| |
Loss on Disposal of Fixed Assets |
17,779 | |
— | |
( us-gaap:GainLossOnDispositionOfAssets1 ) |
| |
| |
Changes in operating assets and liabilities |
| |
| |
( us-gaap:IncreaseDecreaseInOperatingCapitalAbstract ) |
| |
| |
Due from Affiliate |
— | |
700 | |
( us-gaap:IncreaseDecreaseDueFromAffiliates ) |
| |
| |
Prepaid Expenses |
1,250 | |
(10,000 | ) |
( us-gaap:IncreaseDecreaseInPrepaidExpense ) |
| |
| |
Accounts Payable and Accrued Liabilities |
21,287 | |
17,279 | |
( us-gaap:IncreaseDecreaseInAccountsPayableAndAccruedLiabilities ) |
| |
| |
Net Cash Provided By (Used in) Operating Activities |
(432,716 | ) |
(739,684 | ) |
( us-gaap:NetCashProvidedByUsedInOperatingActivities ) |
| |
| |
|
| |
| |
|
| |
| |
Investing Activities |
| |
| |
( us-gaap:NetCashProvidedByUsedInInvestingActivitiesAbstract ) |
| |
| |
Proceeds from sale of Property and Equipment |
2,500 | |
— | |
( us-gaap:ProceedsFromSaleOfPropertyPlantAndEquipment ) |
| |
| |
Purchase Of Equipment |
(2,022 | ) |
(26,250 | ) |
( us-gaap:PaymentsToAcquirePropertyPlantAndEquipment ) |
| |
| |
Net Cash Provided By (Used in) Investing Activities |
478 | |
(26,250 | ) |
( us-gaap:NetCashProvidedByUsedInInvestingActivities ) |
| |
| |
|
| |
| |
|
| |
| |
Financing Activities |
| |
| |
( us-gaap:NetCashProvidedByUsedInFinancingActivitiesAbstract ) |
| |
| |
Proceeds From Sale Of Preferred Stock Series D |
— | |
105,000 | |
( us-gaap:ProceedsFromIssuanceOfPreferredStockAndPreferenceStock ) |
| |
| |
Repayments of Preferred Stock Series D |
— | |
(63,241 | ) |
( us-gaap:PaymentsForRepurchaseOfPreferredStockAndPreferenceStock ) |
| |
| |
Due To ViaOne Services |
421,811 | |
675,587 | |
( us-gaap:ProceedsFromRelatedPartyDebt ) |
| |
| |
Net Cash Provided By (Used In) Financing Activities |
421,811 | |
717,346 | |
( us-gaap:NetCashProvidedByUsedInFinancingActivities ) |
| |
| |
Change in Cash and Cash Equivalents |
(10,427 | ) |
(48,588 | ) |
( us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect ) |
| |
| |
Cash and Cash Equivalents, Beginning Of Year |
12,449 | |
61,037 | |
( us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations ) |
| |
| |
Cash and Cash Equivalents, End Of Year |
2,022 | |
12,449 | |
( us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations ) |
| |
| |
Supplemental disclosure of cash flow information: |
| |
| |
( us-gaap:SupplementalCashFlowInformationAbstract ) |
| |
| |
Cash paid for interest |
— | |
— | |
( us-gaap:InterestPaidNet ) |
| |
| |
Cash paid for taxes |
— | |
— | |
( us-gaap:IncomeTaxesPaidNet ) |
| |
| |
Non-Cash Investing And Financing Activities |
| |
| |
( us-gaap:CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract ) |
| |
| |
Common Shares Issued for Conversion Of Debt |
— | |
290,134 | |
( us-gaap:DebtConversionConvertedInstrumentAmount1 ) |
| |
| |
Conversion of Loan to ViaOneDebt Discount Due To Beneficial Conversion Feature |
— | |
— | |
( us-gaap:AmortizationOfDebtDiscountPremium ) |
| |
| |
Shares Issued For Acquisition Of Software |
— | |
— | |
( us-gaap:FairValueOfAssetsAcquired ) |
| |
| |
|
(End Statement - Statements of Cash Flows) |
|
Statement - Statements of Stockholders' Deficit |
Statement - Statements of Stockholders' Deficit (USD $) |
|
|
|
|
|
|
|
( us-gaap:StatementOfStockholdersEquityAbstract ) |
|
|
|
|
|
|
|
|
Class A Preferred Stock [Member] |
Class B Preferred Stock [Member] |
Class C Preferred Stock [Member] |
Class D Preferred Stock [Member] |
Common Stock [Member] |
Additional Paid-In Capital [Member] |
Accumulated Deficit [Member] |
( us-gaap:StatementClassOfStockAxis ) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
( us-gaap:ClassOfStockDomain ) |
|
|
|
|
|
|
|
From Jan. 1, 2018 to Dec. 31, 2018 |
| |
| |
| |
| |
| |
| |
| |
|
| |
| |
| |
| |
| |
| |
| |
|
| |
| |
| |
| |
| |
| |
| |
|
| |
| |
| |
| |
| |
| |
| |
Beginning balance |
8 | |
165 | |
1 | |
1 | |
2,881 | |
3,996,373 | |
(4,889,020 | ) |
( us-gaap:StockholdersEquity ) |
| |
| |
| |
| |
| |
| |
| |
Beginning balance, shares |
7,500 | |
164,781 | |
1 | |
105 | |
2,881,424 | |
| |
| |
( us-gaap:SharesOutstanding ) |
| |
| |
| |
| |
| |
| |
| |
Common shares issued for conversion of debt |
— | |
— | |
— | |
— | |
— | |
— | |
— | |
( us-gaap:StockIssuedDuringPeriodValueConversionOfConvertibleSecurities ) |
| |
| |
| |
| |
| |
| |
| |
Common shares issued for conversion of debt, shares |
— | |
— | |
— | |
— | |
— | |
| |
| |
( us-gaap:StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities ) |
| |
| |
| |
| |
| |
| |
| |
Conversion of common shares to preferred shares |
— | |
— | |
— | |
— | |
— | |
— | |
— | |
( custom:ConversionOfStockAmountConvertedOne [Extension] ) |
| |
| |
| |
| |
| |
| |
| |
Conversion of common shares to preferred shares, shares |
— | |
— | |
— | |
— | |
— | |
— | |
— | |
( custom:ConversionOfStockSharesConvertedOne [Extension] ) |
| |
| |
| |
| |
| |
| |
| |
Conversion of preferred shares B to common shares |
— | |
(96 | ) |
— | |
— | |
19,117 | |
(19,021 | ) |
— | |
( custom:ConversionOfStockAmountConvertedTwo [Extension] ) |
| |
| |
| |
| |
| |
| |
| |
Conversion of preferred shares B to common shares, shares |
— | |
(95,584 | ) |
— | |
— | |
19,116,800 | |
| |
| |
( custom:ConversionOfStockSharesConvertedTwo [Extension] ) |
| |
| |
| |
| |
| |
| |
| |
Conversion of preferred shares D to Common Shares |
— | |
— | |
— | |
(1 | ) |
15,024 | |
(155,375 | ) |
— | |
( custom:ConversionOfStockAmountConvertedThree [Extension] ) |
| |
| |
| |
| |
| |
| |
| |
Conversion of preferred shares D to Common Shares, shares |
— | |
— | |
— | |
(160 | ) |
15,023,505 | |
| |
| |
( custom:ConversionOfStockSharesConvertedThree [Extension] ) |
| |
| |
| |
| |
| |
| |
| |
Conversion of preferred shares D to Cash |
— | |
— | |
— | |
— | |
| |
— | |
— | |
( us-gaap:ConversionOfStockAmountConverted1 ) |
| |
| |
| |
| |
| |
| |
| |
Conversion of preferred shares D to Cash, shares |
— | |
— | |
— | |
(44 | ) |
| |
| |
| |
( us-gaap:ConversionOfStockSharesConverted1 ) |
| |
| |
| |
| |
| |
| |
| |
Conversion of Via One Loan to Common Stocks |
— | |
— | |
— | |
— | |
8,333 | |
191,667 | |
— | |
( custom:StockIssuedDuringPeriodValueConversionOfConvertibleSecuritiesTwo [Extension] ) |
| |
| |
| |
| |
| |
| |
| |
Conversion of Via One Loan to Common Stocks, shares |
— | |
— | |
— | |
— | |
8,333,333 | |
| |
| |
( custom:StockIssuedDuringPeriodSharesConversionOfConvertibleSecuritiesTwo [Extension] ) |
| |
| |
| |
| |
| |
| |
| |
Conversion of Iconic Note 1 & 2 |
— | |
— | |
— | |
— | |
2,708 | |
80,448 | |
— | |
( custom:StockIssuedDuringPeriodValueConversionOfConvertibleSecuritiesThree [Extension] ) |
| |
| |
| |
| |
| |
| |
| |
Conversion of Iconic Note 1 & 2, shares |
— | |
— | |
— | |
— | |
2,707,266 | |
| |
| |
( custom:StockIssuedDuringPeriodSharesConversionOfConvertibleSecuritiesThree [Extension] ) |
| |
| |
| |
| |
| |
| |
| |
Conversion of HGT Convertible Note |
— | |
— | |
— | |
— | |
1,655 | |
16,173 | |
— | |
( custom:StockIssuedDuringPeriodValueConversionOfConvertibleSecuritiesFour [Extension] ) |
| |
| |
| |
| |
| |
| |
| |
Conversion of HGT Convertible Note, shares |
— | |
— | |
— | |
— | |
1,655,594 | |
| |
| |
( custom:StockIssuedDuringPeriodSharesConversionOfConvertibleSecuritiesFour [Extension] ) |
| |
| |
| |
| |
| |
| |
| |
Issuance of Series D Shares |
— | |
— | |
— | |
1 | |
— | |
104,999 | |
— | |
( us-gaap:StockIssuedDuringPeriodValueOther ) |
| |
| |
| |
| |
| |
| |
| |
Issuance of Series D shares, shares |
— | |
— | |
— | |
105 | |
— | |
| |
| |
( us-gaap:StockIssuedDuringPeriodSharesOther ) |
| |
| |
| |
| |
| |
| |
| |
Net income (loss) |
— | |
— | |
— | |
— | |
— | |
— | |
(991,693 | ) |
( us-gaap:NetIncomeLoss ) |
| |
| |
| |
| |
| |
| |
| |
Ending balance |
8 | |
69 | |
1 | |
1 | |
49,718 | |
4,215,264 | |
(5,880,713 | ) |
( us-gaap:StockholdersEquity ) |
| |
| |
| |
| |
| |
| |
| |
Ending balance, shares |
7,500 | |
69,197 | |
1 | |
6 | |
49,717,922 | |
| |
| |
( us-gaap:SharesOutstanding ) |
| |
| |
| |
| |
| |
| |
| |
|
| |
| |
| |
| |
| |
| |
| |
|
| |
| |
| |
| |
| |
| |
| |
From Jan. 1, 2019 to Dec. 31, 2019 |
| |
| |
| |
| |
| |
| |
| |
|
| |
| |
| |
| |
| |
| |
| |
|
| |
| |
| |
| |
| |
| |
| |
|
| |
| |
| |
| |
| |
| |
| |
Beginning balance |
8 | |
69 | |
1 | |
1 | |
49,718 | |
4,215,264 | |
(5,880,713 | ) |
( us-gaap:StockholdersEquity ) |
| |
| |
| |
| |
| |
| |
| |
Beginning balance, shares |
7,500 | |
69,197 | |
1 | |
6 | |
49,717,922 | |
| |
| |
( us-gaap:SharesOutstanding ) |
| |
| |
| |
| |
| |
| |
| |
Common shares issued for conversion of debt |
| |
| |
| |
| |
| |
| |
| |
( us-gaap:StockIssuedDuringPeriodValueConversionOfConvertibleSecurities ) |
| |
| |
| |
| |
| |
| |
| |
Common shares issued for conversion of debt, shares |
| |
| |
| |
| |
| |
| |
| |
( us-gaap:StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities ) |
| |
| |
| |
| |
| |
| |
| |
Conversion of common shares to preferred shares |
| |
| |
| |
| |
| |
| |
| |
( custom:ConversionOfStockAmountConvertedOne [Extension] ) |
| |
| |
| |
| |
| |
| |
| |
Conversion of common shares to preferred shares, shares |
| |
| |
| |
| |
| |
| |
| |
( custom:ConversionOfStockSharesConvertedOne [Extension] ) |
| |
| |
| |
| |
| |
| |
| |
Conversion of preferred shares B to common shares |
— | |
— | |
— | |
— | |
3,750 | |
(3,750 | ) |
— | |
( custom:ConversionOfStockAmountConvertedTwo [Extension] ) |
| |
| |
| |
| |
| |
| |
| |
Conversion of preferred shares B to common shares, shares |
— | |
(200 | ) |
— | |
— | |
3,750,000 | |
| |
| |
( custom:ConversionOfStockSharesConvertedTwo [Extension] ) |
| |
| |
| |
| |
| |
| |
| |
Conversion of preferred shares D to Common Shares |
— | |
— | |
— | |
(1 | ) |
520 | |
(519 | ) |
— | |
( custom:ConversionOfStockAmountConvertedThree [Extension] ) |
| |
| |
| |
| |
| |
| |
| |
Conversion of preferred shares D to Common Shares, shares |
— | |
— | |
— | |
(6 | ) |
520,833 | |
| |
| |
( custom:ConversionOfStockSharesConvertedThree [Extension] ) |
| |
| |
| |
| |
| |
| |
| |
Conversion of preferred shares D to Cash |
| |
| |
| |
| |
| |
| |
| |
( us-gaap:ConversionOfStockAmountConverted1 ) |
| |
| |
| |
| |
| |
| |
| |
Conversion of preferred shares D to Cash, shares |
| |
| |
| |
| |
| |
| |
| |
( us-gaap:ConversionOfStockSharesConverted1 ) |
| |
| |
| |
| |
| |
| |
| |
Conversion of Via One Loan to Common Stocks |
| |
| |
| |
| |
| |
| |
| |
( custom:StockIssuedDuringPeriodValueConversionOfConvertibleSecuritiesTwo [Extension] ) |
| |
| |
| |
| |
| |
| |
| |
Conversion of Via One Loan to Common Stocks, shares |
| |
| |
| |
| |
| |
| |
| |
( custom:StockIssuedDuringPeriodSharesConversionOfConvertibleSecuritiesTwo [Extension] ) |
| |
| |
| |
| |
| |
| |
| |
Conversion of Iconic Note 1 & 2 |
| |
| |
| |
| |
| |
| |
| |
( custom:StockIssuedDuringPeriodValueConversionOfConvertibleSecuritiesThree [Extension] ) |
| |
| |
| |
| |
| |
| |
| |
Conversion of Iconic Note 1 & 2, shares |
| |
| |
| |
| |
| |
| |
| |
( custom:StockIssuedDuringPeriodSharesConversionOfConvertibleSecuritiesThree [Extension] ) |
| |
| |
| |
| |
| |
| |
| |
Conversion of HGT Convertible Note |
| |
| |
| |
| |
| |
| |
| |
( custom:StockIssuedDuringPeriodValueConversionOfConvertibleSecuritiesFour [Extension] ) |
| |
| |
| |
| |
| |
| |
| |
Conversion of HGT Convertible Note, shares |
| |
| |
| |
| |
| |
| |
| |
( custom:StockIssuedDuringPeriodSharesConversionOfConvertibleSecuritiesFour [Extension] ) |
| |
| |
| |
| |
| |
| |
| |
Issuance of Series D Shares |
| |
| |
| |
| |
| |
| |
| |
( us-gaap:StockIssuedDuringPeriodValueOther ) |
| |
| |
| |
| |
| |
| |
| |
Issuance of Series D shares, shares |
| |
| |
| |
| |
| |
| |
| |
( us-gaap:StockIssuedDuringPeriodSharesOther ) |
| |
| |
| |
| |
| |
| |
| |
Net income (loss) |
— | |
— | |
— | |
— | |
— | |
— | |
(1,130,769 | ) |
( us-gaap:NetIncomeLoss ) |
| |
| |
| |
| |
| |
| |
| |
Ending balance |
8 | |
69 | |
1 | |
— | |
53,988 | |
4,210,995 | |
(7,011,482 | ) |
( us-gaap:StockholdersEquity ) |
| |
| |
| |
| |
| |
| |
| |
Ending balance, shares |
7,500 | |
68,997 | |
1 | |
0 | |
53,988,755 | |
| |
| |
( us-gaap:SharesOutstanding ) |
| |
| |
| |
| |
| |
| |
| |
|
Table continued from above |
|
Statement - Statements of Stockholders' Deficit (USD $) |
|
( us-gaap:StatementOfStockholdersEquityAbstract ) |
|
|
<Total> |
( us-gaap:StatementClassOfStockAxis ) |
|
|
|
( us-gaap:ClassOfStockDomain ) |
|
From Jan. 1, 2018 to Dec. 31, 2018 |
| |
|
| |
|
| |
|
| |
Beginning balance |
(889,591 | ) |
( us-gaap:StockholdersEquity ) |
| |
Beginning balance, shares |
| |
( us-gaap:SharesOutstanding ) |
| |
Common shares issued for conversion of debt |
— | |
( us-gaap:StockIssuedDuringPeriodValueConversionOfConvertibleSecurities ) |
| |
Common shares issued for conversion of debt, shares |
| |
( us-gaap:StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities ) |
| |
Conversion of common shares to preferred shares |
— | |
( custom:ConversionOfStockAmountConvertedOne [Extension] ) |
| |
Conversion of common shares to preferred shares, shares |
— | |
( custom:ConversionOfStockSharesConvertedOne [Extension] ) |
| |
Conversion of preferred shares B to common shares |
— | |
( custom:ConversionOfStockAmountConvertedTwo [Extension] ) |
| |
Conversion of preferred shares B to common shares, shares |
| |
( custom:ConversionOfStockSharesConvertedTwo [Extension] ) |
| |
Conversion of preferred shares D to Common Shares |
(140,352 | ) |
( custom:ConversionOfStockAmountConvertedThree [Extension] ) |
| |
Conversion of preferred shares D to Common Shares, shares |
| |
( custom:ConversionOfStockSharesConvertedThree [Extension] ) |
| |
Conversion of preferred shares D to Cash |
— | |
( us-gaap:ConversionOfStockAmountConverted1 ) |
| |
Conversion of preferred shares D to Cash, shares |
| |
( us-gaap:ConversionOfStockSharesConverted1 ) |
| |
Conversion of Via One Loan to Common Stocks |
200,000 | |
( custom:StockIssuedDuringPeriodValueConversionOfConvertibleSecuritiesTwo [Extension] ) |
| |
Conversion of Via One Loan to Common Stocks, shares |
| |
( custom:StockIssuedDuringPeriodSharesConversionOfConvertibleSecuritiesTwo [Extension] ) |
| |
Conversion of Iconic Note 1 & 2 |
83,156 | |
( custom:StockIssuedDuringPeriodValueConversionOfConvertibleSecuritiesThree [Extension] ) |
| |
Conversion of Iconic Note 1 & 2, shares |
| |
( custom:StockIssuedDuringPeriodSharesConversionOfConvertibleSecuritiesThree [Extension] ) |
| |
Conversion of HGT Convertible Note |
17,828 | |
( custom:StockIssuedDuringPeriodValueConversionOfConvertibleSecuritiesFour [Extension] ) |
| |
Conversion of HGT Convertible Note, shares |
| |
( custom:StockIssuedDuringPeriodSharesConversionOfConvertibleSecuritiesFour [Extension] ) |
| |
Issuance of Series D Shares |
105,000 | |
( us-gaap:StockIssuedDuringPeriodValueOther ) |
| |
Issuance of Series D shares, shares |
| |
( us-gaap:StockIssuedDuringPeriodSharesOther ) |
| |
Net income (loss) |
(991,693 | ) |
( us-gaap:NetIncomeLoss ) |
| |
Ending balance |
(1,615,652 | ) |
( us-gaap:StockholdersEquity ) |
| |
Ending balance, shares |
| |
( us-gaap:SharesOutstanding ) |
| |
|
| |
|
| |
From Jan. 1, 2019 to Dec. 31, 2019 |
| |
|
| |
|
| |
|
| |
Beginning balance |
(1,615,652 | ) |
( us-gaap:StockholdersEquity ) |
| |
Beginning balance, shares |
| |
( us-gaap:SharesOutstanding ) |
| |
Common shares issued for conversion of debt |
| |
( us-gaap:StockIssuedDuringPeriodValueConversionOfConvertibleSecurities ) |
| |
Common shares issued for conversion of debt, shares |
| |
( us-gaap:StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities ) |
| |
Conversion of common shares to preferred shares |
| |
( custom:ConversionOfStockAmountConvertedOne [Extension] ) |
| |
Conversion of common shares to preferred shares, shares |
| |
( custom:ConversionOfStockSharesConvertedOne [Extension] ) |
| |
Conversion of preferred shares B to common shares |
— | |
( custom:ConversionOfStockAmountConvertedTwo [Extension] ) |
| |
Conversion of preferred shares B to common shares, shares |
| |
( custom:ConversionOfStockSharesConvertedTwo [Extension] ) |
| |
Conversion of preferred shares D to Common Shares |
— | |
( custom:ConversionOfStockAmountConvertedThree [Extension] ) |
| |
Conversion of preferred shares D to Common Shares, shares |
| |
( custom:ConversionOfStockSharesConvertedThree [Extension] ) |
| |
Conversion of preferred shares D to Cash |
| |
( us-gaap:ConversionOfStockAmountConverted1 ) |
| |
Conversion of preferred shares D to Cash, shares |
| |
( us-gaap:ConversionOfStockSharesConverted1 ) |
| |
Conversion of Via One Loan to Common Stocks |
| |
( custom:StockIssuedDuringPeriodValueConversionOfConvertibleSecuritiesTwo [Extension] ) |
| |
Conversion of Via One Loan to Common Stocks, shares |
| |
( custom:StockIssuedDuringPeriodSharesConversionOfConvertibleSecuritiesTwo [Extension] ) |
| |
Conversion of Iconic Note 1 & 2 |
| |
( custom:StockIssuedDuringPeriodValueConversionOfConvertibleSecuritiesThree [Extension] ) |
| |
Conversion of Iconic Note 1 & 2, shares |
| |
( custom:StockIssuedDuringPeriodSharesConversionOfConvertibleSecuritiesThree [Extension] ) |
| |
Conversion of HGT Convertible Note |
| |
( custom:StockIssuedDuringPeriodValueConversionOfConvertibleSecuritiesFour [Extension] ) |
| |
Conversion of HGT Convertible Note, shares |
| |
( custom:StockIssuedDuringPeriodSharesConversionOfConvertibleSecuritiesFour [Extension] ) |
| |
Issuance of Series D Shares |
| |
( us-gaap:StockIssuedDuringPeriodValueOther ) |
| |
Issuance of Series D shares, shares |
| |
( us-gaap:StockIssuedDuringPeriodSharesOther ) |
| |
Net income (loss) |
(1,130,769 | ) |
( us-gaap:NetIncomeLoss ) |
| |
Ending balance |
(2,746,421 | ) |
( us-gaap:StockholdersEquity ) |
| |
Ending balance, shares |
| |
( us-gaap:SharesOutstanding ) |
| |
|
(End Statement - Statements of Stockholders' Deficit) |
|
Disclosure - Nature of Operations and Continuance of Business |
Disclosure - Nature of Operations and Continuance of Business (USD $) |
12 Months Ended |
( us-gaap:OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract ) |
|
|
Dec. 31, 2019 |
|
|
|
|
|
|
Nature of Operations and Continuance of Business |
1. Nature of Operations and Continuance
of Business
Good Gaming, Inc. (Formerly HDS International
Corp.) (the “Company”) was incorporated on November 3, 2008 under the laws of the State of Nevada. The Company is a
leading tournament gaming platform and online destination targeting over 250 million e-sports players and participants worldwide
that want to compete at the high school or college level. A substantial portion of the Company’s activities has involved
developing a business plan and establishing contacts and visibility in the marketplace and the Company has not generated any substantial
revenue to date. Beginning in 2018, the Company began deriving revenue by providing transaction verification services within the
digital currency networks of cryptocurrencies. However, on December 12, 2018, the Company discontinued such transaction verification
services by dissolving Crypto Strategies Group, Inc., its wholly-owned subsidiary.
Going Concern
These financial statements have been prepared
on a going concern basis, which implies that the Company will continue to realize its assets and discharge its liabilities in the
normal course of business. The Company has generated minimal revenues to date and has never paid any dividends and is unlikely
to pay dividends or generate significant earnings in the immediate or foreseeable future. As of December 31, 2019, the Company
had a working capital deficiency of $2,751,601 and an accumulated deficit of $7,011,482. The continuation of the Company as a going
concern is dependent upon the continued financial support from its shareholders, the ability to raise equity or debt financing,
and the attainment of profitable operations from the Company’s future business. These factors raise substantial doubt regarding
the Company’s ability to continue as a going concern for a period of one year from the issuance of these financial statements.
These financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and
classification of liabilities that might be necessary should the Company be unable to continue as a going concern.
Reverse Stock Split
On February 17, 2017, the Board of Directors
of the Company approved a reverse split of its common and preferred shares on a 1 for 1,000 basis. The Articles of Incorporation
were amended, decreasing the authorized common shares from 2,000,000,000 to 100,000,000 and decreasing the authorized preferred
shares from 450,000,000 to 2,250,000. A special meeting of the Company’s shareholders was not required since written consent
was obtained by the stockholders who held the majority of the outstanding voting stock. The Reverse Stock Split became effective
on June 14, 2017.
All references in this Annual Report regarding
the number of preferred and common shares, price per share and weighted average shares of common stock have been adjusted to reflect
the Reverse Stock Split on a retroactive basis for all prior periods presented, unless otherwise noted, including reclassifying
an amount equal to the reduction in par value of common and preferred stock to additional paid-in capital. | |
( us-gaap:NatureOfOperations ) |
| |
|
(End Disclosure - Nature of Operations and Continuance of Business) |
|
Disclosure - Summary of Significant Accounting Policies |
Disclosure - Summary of Significant Accounting Policies (USD $) |
12 Months Ended |
( us-gaap:AccountingPoliciesAbstract ) |
|
|
Dec. 31, 2019 |
|
|
|
|
|
|
Summary of Significant Accounting Policies |
2. Summary of Significant Accounting Policies
Use of Estimates
The preparation of financial statements in
conformity with generally accepted accounting principles in the United States requires management to make estimates and assumptions
that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the
financial statements and the reported amounts of revenues and expenses during the reporting period. The Company regularly evaluates
estimates and assumptions related to the fair values of convertible debentures, derivative liability, stock-based compensation,
and deferred income tax asset valuation allowances. The Company bases its estimates and assumptions on current facts, historical
experience and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis
for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily
apparent from other sources. The actual results experienced by the Company may differ materially and adversely from the Company’s
estimates. To the extent there are material differences between the estimates and the actual results, future results of operations
will be affected.
Certain reclassifications have been made to
prior-year amounts to conform to the current period presentation.
Cash Equivalents
The Company considers all highly liquid instruments
with maturities of three months or less at the time of issuance to be cash equivalents. Amounts receivable from credit card processors
are also considered cash equivalents because they are both short-term and highly liquid in nature.
Intangible Assets
Intangible assets are carried at the purchased
cost less accumulated amortization. Amortization is computed over the estimated useful lives of the respective assets, generally
five years.
Impairment of Long-Lived Assets
Long-lived assets and certain identifiable
intangible assets to be held and used are reviewed for impairment whenever events or changes in circumstances indicate that the
carrying amount of such assets may not be recoverable. Determination of recoverability is based on an estimate of undiscounted
future cash flows resulting from the use of the asset and its eventual disposition. Measurement of an impairment loss for long-lived
assets and certain identifiable intangible assets that management expects to hold and use is based on the fair value of the asset.
Long-lived assets and certain identifiable intangible assets to be disposed of are reported at the lower of carrying amount or
fair value less costs to sell.
Beneficial Conversion Features
From time to time, the Company may issue convertible
notes that may contain an embedded beneficial conversion feature. A beneficial conversion feature exists on the date a convertible
note is issued when the fair value of the underlying common stock to which the note is convertible into is in excess of the remaining
unallocated proceeds of the note after first considering the allocation of a portion of the note proceeds to the fair value of
the warrants, if related warrants have been granted. The intrinsic value of the beneficial conversion feature is recorded as a
debt discount with a corresponding amount to additional paid in capital. The debt discount is amortized to interest expense over
the life of the note using the effective interest method.
Derivative Liability
From time to time, the Company may issue equity
instruments that may contain an embedded derivative instrument which may result in a derivative liability. A derivative liability
exists on the date the equity instrument is issued when there is a contingent exercise provision. The derivative liability is recorded
at its fair value calculated by using an option pricing model. The fair value of the derivative liability is then calculated on
each balance sheet date with the corresponding gains and losses recorded in the statement of operations.
Basic and Diluted Net Loss Per Share
The Company computes net loss per share in
accordance with ASC 260, Earnings Per Share, which requires presentation of both basic and diluted earnings per share (EPS) on
the face of the income statement. Basic EPS is computed by dividing net loss available to common shareholders (numerator) by the
weighted average number of shares outstanding (denominator) during the period. Diluted EPS gives effect to all dilutive potential
common shares outstanding during the period using the treasury stock method and convertible preferred stock using the if-converted
method. In computing Diluted EPS, the average stock price for the period is used in determining the number of shares assumed to
be purchased from the exercise of stock options or warrants. Diluted EPS excludes all dilutive potential shares if their effect
is anti-dilutive. On December 31, 2019 and December 31, 2018, the Company had 10,000,000 and 10,000,000 potentially dilutive shares
from outstanding convertible debentures, respectively.
Income Taxes
Potential benefits of income tax losses are
not recognized in the accounts until realization is more likely than not. Pursuant to ASC 740, the Company is required to compute
tax asset benefits for net operating losses carried forward. The potential benefits of net operating losses have not been recognized
in these consolidated financial statements because the Company cannot be assured it is more likely than not it will utilize the
net operating losses carried forward in future years. Unrecognized tax positions, if ever recognized in the consolidated financial
statements, are recorded in the statement of operations as part of the income tax provision. Our policy is to recognize interest
and penalties accrued on uncertain tax positions, if any, as part of the income tax provision. The Company has no liability for
uncertain tax positions. Unrecognized tax positions, if ever recognized in the consolidated financial statements, are recorded
in the statement of operations as part of the income tax provision. The Company’s policy is to recognize interest and penalties
accrued on uncertain tax positions, if any, as part of the income tax provision. The Company has no liability for uncertain tax
positions.
On March 22, 2017, tax reform legislation known
as the Tax Cuts and Jobs Act (the “U.S. Tax Reform Act”) was enacted in the United States. The U.S. Tax Reform Act,
among other things, reduced the U.S. corporate income tax rate from 35% to 21% beginning in 2018. On March 22, 2017, the SEC staff
issued Staff Accounting Bulletin No. 118 (“SAB 118”), which provides guidance on how to account for the effects of
the U.S. Tax Reform Act under ASC 740.
Financial Instruments
ASC 820, “Fair Value Measurements”
and ASC 825, Financial Instruments, requires an entity to maximize the use of observable inputs and minimize the use of unobservable
inputs when measuring fair value. It establishes a fair value hierarchy based on the level of independent, objective evidence surrounding
the inputs used to measure fair value. A financial instrument categorized within the fair value hierarchy is based upon the lowest
level of input that is significant to the fair value measurement. It prioritizes the inputs into three levels that may be used
to measure fair value:
Level 1
Level 1 applies to assets or liabilities for
which there are quoted prices in active markets for identical assets or liabilities.
Level 2
Level 2 applies to assets or liabilities for
which there are inputs other than quoted prices that are observable for the asset or liability such as quoted prices for similar
assets or liabilities in active markets; quoted prices for identical assets or liabilities in markets with insufficient volume
or infrequent transactions (less active markets); or model-derived valuations in which significant inputs are observable or can
be derived principally from, or corroborated by, observable market data.
Level 3
Level 3 applies to assets or liabilities for
which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the
assets or liabilities.
Assets and liabilities measured at fair value
on a recurring basis were presented on the Company’s balance sheet as at December 31, 2019 and 2018 as follows:
Description |
|
Fair Value Measurements at December 31, 2019 Using Fair Value Hierarchy |
|
|
|
Total |
|
|
Level 1 |
|
|
Level 2 |
|
|
Level 3 |
|
Derivative liability |
|
$ |
777,118 |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
777,118 |
|
Total |
|
$ |
777,118 |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
777,118 |
|
Description |
|
Fair Value Measurements at December 31, 2018 Using Fair Value Hierarchy |
|
|
|
Total |
|
|
Level 1 |
|
|
Level 2 |
|
|
Level 3 |
|
Derivative liability |
|
$ |
574,797 |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
574,797 |
|
Total |
|
$ |
574,797 |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
574,797 |
|
The carrying values of all of our other financial
instruments, which include accounts payable and accrued liabilities, and amounts due to related parties approximate their current
fair values because of their nature and respective maturity dates or durations.
Advertising Expenses
Advertising expenses are included in general
and administrative expenses in the Statements of Operations and are expensed as incurred. The Company incurred $14,080 and $55,838
in advertising and promotion expenses in the years ended December 31, 2019 and 2018, respectively.
Revenue Recognition
Revenue is recognized in accordance with ASC
606. The Company performs the following five steps: (i) identify the contract(s) with a customer, (ii) identify the performance
obligations in the contract, (iii) determine the transaction price, (iv) allocate the transaction price to the performance obligations
in the contract, and (v) recognize revenue when (or as) the entity satisfies a performance obligation. The Company applies the
five-step model to arrangements that meet the definition of a contract under Topic 606, including when it is probable that the
entity will collect the consideration it is entitled to in exchange for the goods or services it transfers to the customer. At
contract inception, once the contract is determined to be within the scope of Topic 606, the Company evaluates the goods or services
promised within each contract related performance obligation and assesses whether each promised good or service is distinct. The
Company recognizes as revenue, the amount of the transaction price that is allocated to the respective performance obligation when
(or as) the performance obligation is satisfied.. Revenues primarily include revenues from microtransactions. Microtransaction
revenues are derived from the sale of virtual goods to the Company’s players. Proceeds from the sales of virtual goods directly
are recognized as revenues when a player uses the virtual goods.
Recent Accounting Pronouncements
In February 2016, the Financial Accounting
Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-02, Leases (Topic 842), which
amends the existing accounting standards for leases. The new standard requires lessees to record a right-of-use (“ROU”)
asset and a corresponding lease liability on the balance sheet (with the exception of short-term leases). This new standard is
effective for annual reporting periods beginning after December 15, 2018, and interim reporting periods within those annual reporting
periods, with early adoption permitted. We adopted this new standard effective January 1, 2019. Adoption did not have any effect
on the Company as it does not have any leases.
The Company has implemented all other new
accounting pronouncements that are in effect. These pronouncements did not have any material impact on the consolidated financial
statements unless otherwise disclosed, and the Company does not believe that there are any other new accounting pronouncements
that have been issued that might have a material impact on its financial position or results of operations. | |
( us-gaap:SignificantAccountingPoliciesTextBlock ) |
| |
|
(End Disclosure - Summary of Significant Accounting Policies) |
|
Disclosure - Other Assets |
Disclosure - Other Assets (USD $) |
12 Months Ended |
( us-gaap:OtherAssetsAbstract ) |
|
|
Dec. 31, 2019 |
|
|
|
|
|
|
Other Assets |
3. Other Assets
Furniture and fixtures consisted of the following:
|
|
December 31, |
|
|
|
2019 |
|
|
2018 |
|
Computers |
|
$ |
14,998 |
|
|
$ |
39,226 |
|
Accumulated Depreciation |
|
|
(9,818 |
) |
|
|
(10,373 |
) |
|
|
$ |
5,180 |
|
|
$ |
28,853 |
|
Depreciation expense for the years ended December
31, 2019 and 2018 was $5,416 and $7,557, respectively.
On February 17, 2016, the Company acquired
Good Gaming’s assets including intellectual property, trademarks, software code, equipment and other from CMG Holdings Group,
Inc. The Company valued the software purchased at $1,200,000. The software has a useful life of 5 years. During the 4th Quarter
of 2018, the Company assessed the useful life of the software and determined that the remaining useful life was 1.25 years. As
such, the Company prospectively is amortizing the Software through December 31, 2019. Amortization for the years ended December
31, 2019 and 2018 was $450,000 and $300,000, respectively. The software consisted of the following:
|
|
December 31, |
|
|
|
2019 |
|
|
2018 |
|
Software |
|
$ |
1,200,000 |
|
|
$ |
1,200,000 |
|
Accumulated Amortization |
|
|
(1,200,000 |
) |
|
|
(750,000 |
) |
|
|
$ |
- |
|
|
$ |
450,000 |
|
| |
( us-gaap:OtherAssetsDisclosureTextBlock ) |
| |
|
(End Disclosure - Other Assets) |
|
Disclosure - Debt |
Disclosure - Debt (USD $) |
12 Months Ended |
( us-gaap:DebtDisclosureAbstract ) |
|
|
Dec. 31, 2019 |
|
|
|
|
|
|
Debt |
4. Debt
Convertible Debentures
On April 1, 2015, we entered into a transaction
with Iconic Holdings (“Iconic”) whereby Iconic agreed to provide up to $600,000 through a structured convertible promissory
note (the “2015 Iconic Note”), with funds to be received in tranches. The note bears interest of 10% and was due April
1, 2016. The initial proceeds of $40,000 was received on April 9, 2015, with $30,000 remitted and delivered to us, $4,000 retained
by Iconic as an original issue discount, and $6,000 retained by Iconic for legal expenses. On February 17, 2016 as part of a settlement
between Iconic and the Company, the 2015 Iconic Note along with a remaining balance of $8,300 from former JABRO-Asher notes were
restructured to a principal amount of $25,000 with a due date of June 18, 2017 and an interest rate of 0%. Iconic is subject to
strict lock-up and leak-out provisions. Additionally, as part of the February 2016 settlement with Iconic, Iconic funded $100,000
new debentures (the “$100,000 Convertible Promissory Note”) due August 2018 bearing 0% interest with the lender subject
to strict lock-up and leak-out provisions. On June 27, 2017, Iconic’s $100,000 Convertible Promissory Note issued on February
18, 2016 was amended to reflect an amendment of the conversion price from $.10 cents to $.08 cents per share of common stock. On
July 5, 2017, Iconic converted $15,895 of its $100,000 Convertible Promissory Note. On July 25, 2017, Iconic converted $18,950
of its $100,000 Convertible Promissory Note. On January 23, 2018, Iconic converted $65,155 of its $100,000 Convertible Promissory
Note. Accordingly, the $100,000 Convertible Promissory Note issued on February 18, 2016 was fully converted into 1,250,001 shares
of the Company’s common stock.
On April 15, 2015, the Company issued a convertible
debenture with the principal amount of $100,000 to HGT Capital, LLC (“HGT”), a non-related party. During the quarter
ended June 30, 2015, the Company received the first $50,000 in payment. The remaining $50,000 payment would be made at the request
of the borrower. No additional payments were made as of September 30, 2018. Under the terms of the debentures, the amount was unsecured
and was due on October 16, 2016. It was convertible into shares of common stock any time after the maturity date at a conversion
rate of 50% of the average of the five lowest closing bid prices of the Company’s common stock for the thirty trading days
ending one trading day prior to the date the conversion notice was sent by the holder to the Company. On September 21, 2018, the
Company entered into a modification agreement with HGT with respect to the convertible promissory note which had had a balance
of $107,238. Pursuant to such modification agreement, all defaults were waived and it was agreed that such note will convert at
a 25% discount to the market rather than the default rate. HGT also agreed to certain sale restrictions which limit the amount
of shares that they can sell in any month for the next three months. HGT also agreed to dismiss, with prejudice, the lawsuit that
it had filed against the Company.
On June 29, 2017, the Company issued Iconic
a 10% Convertible Promissory Note in the principal amount of $27,000 (the “2017 Iconic Note”). Upon the execution of
such Note, the sum of $9,000 was remitted and delivered to the Company. On August 14, 2017, Iconic remitted and delivered to the
Company another $9,000. The Company was only required to repay the amount funded and the Company was not required to repay any
unfunded portion of the 2017 Iconic Note. As of March 31, 2018, the Company had received a total $18,000 of the $27,000 principal
amount. On April 16, 2018, the note was fully converted.
As part of the asset purchase agreement between
CMG Holdings Group, Inc. (“CMG Holdings”) and the Company, the Company issued SirenGPS a 0% convertible debenture of
$60,000 that matured in August 2018. The debenture was convertible into the Company’s common stock at a 20% discount to the
20-day moving average of the Company’s common stock after a period of seven months. The debt was subject to strict lock-up
and leak-out provisions. Recently, ViaOne Services, LLC, a Texas Limited Liability Corporation (“ViaOne”) purchased
this debenture from SirenGPS at face value.
The Company entered into a line of credit
agreement (“Line Of Credit”) with ViaOne on September 27, 2018 (the “Effective Date”). This Line of Credit
dated as of, was entered into by and between the Company and ViaOne. The Company had an immediate need for additional capital
and asked ViaOne to make a new loan(s) in an initial amount of $25,000 on the Effective Date (the “New Loan”). The
Company may need additional capital and ViaOne has agreed pursuant to this Line of Credit to provide for additional advances,
although ViaOne shall have no obligation to make any additional loans. Any further New Loans shall be memorialized in a promissory
note with substantially the same terms as the New Loan and shall be secured by all of the assets of the Company. On or before
the Effective Date, the Company may request in writing to ViaOne that it loan the Company additional sums of up to $250,000 and
within five days of such request(s), ViaOne shall have the right, but not an obligation, to make additional loans to the Company
and the Company shall in turn immediately issue a note in the amount of such loan. In consideration for making the New Loan, the
Company entered into a security agreement whereby ViaOne received a senior security interest in all of the assets of the Company. | |
( us-gaap:DebtDisclosureTextBlock ) |
| |
|
(End Disclosure - Debt) |
|
Disclosure - Derivative Liabilities |
Disclosure - Derivative Liabilities (USD $) |
12 Months Ended |
( us-gaap:DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract ) |
|
|
Dec. 31, 2019 |
|
|
|
|
|
|
Derivative Liabilities |
5. Derivative Liabilities
The following inputs and assumptions were used
to value the convertible debentures outstanding during the years ended December 31, 2019 and December 31, 2018:
The projected annual volatility for each valuation
period was based on the historic volatility of the Company of 194% and 381.8% at December 31, 2019 and 2018, respectively. The
risk free rate was 1.48% and 2.45% at December 31, 2019 and 2018, respectively. The expected life was one year and the dividend
yield was 0% for each year.
A summary of the activity of the derivative
liability is shown below:
Balance, December 31, 2017 |
|
$ |
570,643 |
|
Change in value |
|
|
4,154 |
|
Balance, December 31, 2018 |
|
|
574,797 |
|
Change in value |
|
|
202,321 |
|
Balance, December 31, 2019 |
|
$ |
777,118 |
|
| |
( us-gaap:DerivativesAndFairValueTextBlock ) |
| |
|
(End Disclosure - Derivative Liabilities) |
|
Disclosure - Common Stock |
Disclosure - Common Stock (USD $) |
12 Months Ended |
( us-gaap:EquityAbstract ) |
|
|
Dec. 31, 2019 |
|
|
|
|
|
|
Common Stock |
6. Common Stock
Equity Transactions for the Year Ended December
31, 2018:
On January 8, 2018, Silver Linings Management,
LLC converted 15,000 shares of the Company’s Series B Preferred Stock into 3,000,000 shares of the Company’s common
stock.
On January 8, 2018, Britton & Associates
converted 5,000 of the Company’s Series B Preferred Shares into 1,000,000 shares of the Company’s common stock.
On January 9, 2018, ViaOne converted $200,000
of its convertible note into 8,333,333 shares of the Company’s common stock.
On January 12, 2018, SSB Trading converted
10,000 of the Company’s Series B Preferred Shares into 2,000,000 shares of the Company’s common stock.
On January 12, 2018, CMG Holdings converted
5,605 of the Company’s Series B Preferred Shares into 1,211,000 common shares of the Company.
On January 18, 2018, CMG Holdings converted
9,000 of the Company’s Series B Preferred Shares into 1,800,000 shares of the Company’s common stock.
On January 23, 2018, Iconic converted $65,155
of its convertible note into 814,438 shares of the Company’s common stock.
On January 26, 2018, Michael Tadin converted
5,000 of the Company’s Series B Preferred Shares into 1,000,000 shares of the Company’s common stock.
On February 9, 2018, Vik Grover converted 8,665
of the Company’s Series B Preferred Shares into 1,733,000 shares of common stock of the Company.
On April 16, 2018, Iconic converted $18,000
of a convertible note into 1,892,828 shares of the Company’s common stock.
On April 13, 2018, RedDiamond Partners, Inc.
(“RedDiamond”) converted 5 shares of Series D Preferred Stock into 555,556 shares of the Company’s common stock.
On April 17, 2018, RedDiamond converted 5 shares
of Series D Preferred Stock into 609,756 shares of the Company’s common stock.
On April 23, 2018, RedDiamond converted 5 shares
of Series D Preferred Stock into 806,452 of the Company’s common stock.
On May 9, 2018, RedDiamond converted 5 shares
of Series D Preferred Stock into 1,020,408 of the Company’s common stock.
On May 23, 2018, RedDiamond converted 5 shares
of Series D Preferred Stock into 657,895 of the Company’s common stock.
On June 19, 2018, RedDiamond converted 5 shares
of Series D Preferred Stock into 1,234,756 of the Company’s common stock.
On July 9, 2018, RedDiamond converted 5 shares
of Series D Preferred Stock into 1,250,000 of the Company’s common stock.
On July 24, 2018, RedDiamond converted 5 shares
of Series D Preferred Stock into 1,467,391 of the Company’s common stock.
On September 25, 2018, RedDiamond converted
6.50 shares of Series D Preferred Stock into 1,450,893 of the Company’s common stock.
On October 16, 2018, RedDiamond converted 6.50
shares of Series D Preferred Stock into 1,377,119 of the Company’s common stock.
On November 1, 2018, RedDiamond converted 6.34
shares of Series D Preferred Stock into 792,750 of the Company’s common stock.
On November 6, 2018, Lincoln Acquisition converted
17,314 shares of Preferred B Stock into 3,462,800 of the Company’s common stock.
On November 13, 2018, RedDiamond converted
6 shares of Series D Preferred Stock into 1,027,397 of the Company’s common stock.
On November 29, 2018, RedDiamond converted
5 shares of Series D Preferred Stock into 961,538 of the Company’s common stock.
On November 29, 2018, HGT converted $6,978
of a convertible note into 1,655,594 shares of the Company’s common stock.
On December 14, 2018, Lincoln Acquisition converted
20,000 shares of Preferred B Stock into 4,000,000 of the Company’s common stock.
On December 21, 2018, RedDiamond converted
10 shares of Series D Preferred Stock into 1,811,594 of the Company’s common stock.
Equity Transactions for the Year Ended December
31, 2018:
On January 2, 2019, Lincoln Acquisition converted
200 shares of Preferred B Stock into 3,750,000 of the Company’s common stock
On January 10, 2019, RedDiamond converted
6 shares of Series D Preferred Stock into 520,833 of the Company’s common stock. | |
( us-gaap:StockholdersEquityNoteDisclosureTextBlock ) |
| |
|
(End Disclosure - Common Stock) |
|
Disclosure - Preferred Stock |
Disclosure - Preferred Stock (USD $) |
12 Months Ended |
( us-gaap:EquityAbstract ) |
|
|
Dec. 31, 2019 |
|
|
|
|
|
|
Preferred Stock |
7. Preferred Stock
Our Articles of Incorporation authorize us
to issue up to 2,250,350 shares of preferred stock, $0.001 par value. Of the 2,250,000 authorized shares of preferred stock, the
total number of shares of Series A Preferred Shares the Corporation shall have the authority to issue is Two Hundred Forty Nine
thousand Nine Hundred Ninety Nine (249,999), with a stated par value of $0.001 per share, the total number of shares of Series
B Preferred Shares the Corporation shall have the authority to issue is Two Million (2,000,000), with a stated par value of $0.001
per share and the total number of shares of Series C Preferred Shares the Corporation shall have the authority to issue is One
(1), with a stated par value of $0.001 per share. Our Board of Directors is authorized, without further action by the shareholders,
to issue shares of preferred stock and to fix the designations, number, rights, preferences, privileges and restrictions thereof,
including dividend rights, conversion rights, voting rights, terms of redemption, liquidation preferences and sinking fund terms.
We believe that the Board of Directors’ power to set the terms of, and our ability to issue preferred stock, will provide
flexibility in connection with possible financing or acquisition transactions in the future. The issuance of preferred stock, however,
could adversely affect the voting power of holders of common stock and decrease the amount of any liquidation distribution to such
holders. The presence of outstanding preferred stock could also have the effect of delaying, deterring or preventing a change in
control of our company.
As of December 31, 2019, we had 7,500 shares
of our Series A preferred stock, 68,997 shares of Series B preferred stock, 1 share of Series C Preferred Stock, and 0 shares of
Series D Preferred Stock issued and outstanding.
The 7,500 issued and outstanding shares of
Series A Preferred Stock are convertible into shares of common stock at a rate of 20 common shares for each Series A Preferred
Share. The 68,997 issued and outstanding shares of Series B Preferred Stock are convertible into shares of common stock at a rate
of 200 common shares for each Series B Preferred Share. If all of our Series A Preferred Stock and Series B Preferred Stock are
converted into shares of common stock, the number of issued and outstanding shares of our common stock will increase by 13,949,400
shares.
The 1 issued and outstanding shares of Series
C Preferred Stock has voting rights equivalent to 51% of all shares entitled to vote and is held by ViaOne Services LLC, a Company
controlled by our CEO.
The 6 issued and outstanding shares of Series
D Preferred Stock as of December 31, 2018 were convertible into shares of common stock at a rate of 125% of the conversion amount
at a price that was the lower of 110% of the volume weighted average price (“VWAP”) of the common stock on the closing
date, the VWAP of the common stock on the conversion date or the VWAP of the common stock on the date prior to the conversion date.
Series D Preferred Stock was convertible beginning 6 months from the issue date. On September 21, 2018, RedDiamond modified the
agreement with the Company. RedDiamond and the Company agreed that the Preferred Shares were convertible into Common Stock (the
“Conversion Shares”) at the lower of the Fixed Conversion Price ($.06 per share) or at the VWAP which shall be defined
as the average of the five (5) lowest closing prices during the 20 days prior to conversion; for the avoidance of doubt, RedDiamond
had not waived its right to the 25% Conversion Premium as defined in the COD. The Company had the obligation to redeem 46.531 of
the Preferred Shares (which represents 50% of the Preferred Shares owned by RedDiamond) at 110% of the Stated Value of $46,531
by making three equal payments of $17,061 on October 15, 2018, November 15, 2018 and December 15, 2018. On January 10, 2019, RedDiamond
converted the last six (6) shares of Series D Preferred Stock into the Company’s common stock.
The Series A, Series B, Series C and Series
D have a liquidation preference to the common shareholders. | |
( us-gaap:PreferredStockTextBlock ) |
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(End Disclosure - Preferred Stock) |
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Disclosure - Warrant |
Disclosure - Warrant (USD $) |
12 Months Ended |
( custom:WarrantAbstract [Extension] ) |
|
|
Dec. 31, 2019 |
|
|
|
|
|
|
Warrant |
8. Warrant
In connection with the $100,000 convertible
debenture issued to HGT, the Company issued HGT a warrant to purchase 100,000 shares of the Company’s common stock at $1.00
per share. This warrant was not exercised as of December 31, 2019, is exercisable through April 15, 2020 and had a remaining life
of .29 years as of December 31, 2019. The intrinsic value of the warrant at December 31, 2019 was zero as the exercise price exceeded
the closing stock price. | |
( custom:WarrantTextBlock [Extension] ) |
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(End Disclosure - Warrant) |
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Disclosure - Related Party Transactions |
Disclosure - Related Party Transactions (USD $) |
12 Months Ended |
( us-gaap:RelatedPartyTransactionsAbstract ) |
|
|
Dec. 31, 2019 |
|
|
|
|
|
|
Related Party Transactions |
9. Related Party Transactions
On or around April 7, 2016, Silver Linings
Management, LLC funded the Company $13,440 in the form of convertible debentures secured by certain high-powered gaming machines
purchased from XIDAX. Such note bore interest at a rate of 10% per annum, payable in cash or kind at the option of the Company,
matured on April 1, 2018, and was convertible into Series B Preferred shares at the option of the holder at any time. On January
08, 2019, Silver Linings Management converted its Series B Preferred shares into shares of the Company’s Common Stock.
On November 30, 2016, ViaOne purchased a Secured
Promissory Note equal to a maximum initial principal amount of $150,000 issued by the Company to ViaOne. As additional advances
were made by ViaOne to the Company, the principal amount of the Note was increased to $225,000 and $363,000 by amendments dated
January 31, 2017 and March 1, 2017, respectively.
On May 5, 2017, ViaOne delivered a default
notice to the Company pursuant to Section 6 of the Note Purchase Agreement but has subsequently extended the due date and has increased
the funding up to One Million ($1,000,000) dollars. After giving the Company a fifteen (15) day notice period to cure the default
under the Stock Pledge Agreement, dated November 30, 2016, entered by and among the Company, CMG and ViaOne (“Pledge Agreement”),
ViaOne took possession of the Series C Stock, which was subject of the Pledge Agreement.
The Secured Promissory Note as amended increased
from time to time due to additional advances provided to the Company by ViaOne.
On September 1, 2017, the Company executed
an amended Employee Services Agreement with ViaOne which stipulated that ViaOne would continue providing to the Company services
relating to the Company’s human resources, marketing, advertising, accounting and financing for a monthly management fee
of $25,000. This agreement was amended on January 1, 2018. The accrued monthly management fees, $100,000 at December 31, 2017,
are convertible by ViaOne into the Company’s common stock at a rate of 125% of the accrued fees at a conversion price of
(i) $0.05 per share; or (ii) the volume weighted adjusted price (“VWAP”) of the common stock on the 14th day of each
month if the 14th of that month is a trading day. In the event the 14th day of a month falls on a Saturday, Sunday, or a trading
holiday, the VWAP of the Common Stock will be valued on the last trading day before the 14th day of the month.
On September 27, 2018, the Company and ViaOne,
entered into a Line of Credit Agreement (the “LOC Agreement”), pursuant to which the Company issued a secured promissory
note with the initial principal amount of $25,000 to ViaOne in exchange for a loan of $25,000 (the “Initial Loan Amount”).
In accordance with this Agreement, the Company may request ViaOne to provide loans of up to $250,000, including the Initial Loan
Amount, and ViaOne has the right to decide whether it will honor such request. The Initial Loan Amount shall become due on September
30, 2019 (the “Maturity Date”) and bears an interest rate of 8.0% per annum. The unpaid principal and interest of the
Promissory Note after the Maturity Date shall accrue interest at a rate of 18.0% per annum. The principal amount of the Promissory
Note may increase from time to time up to $250,000 in accordance with the terms and conditions of the Agreement. In connection
with the Agreement and Promissory Note, the Company and ViaOne executed a security agreement dated September 27, 2018 whereby the
Company granted ViaOne a security interest in all of its assets, including without limitation, cash, inventory, account receivables,
real property and intellectual properties, to secure the repayment of the loans made pursuant to the LOC Agreement and Promissory
Note.
As of December 31, 2019, the total amount owed
to ViaOne was $1,738,295. During the years ended December 31, 2019 and 2018, interest expense of $31,726 and $21,958 were incurred
with related parties.
The Company’s Chairman and Chief Executive
Officer is the Chairman of ViaOne.
The prepaid expenses are an insurance policy
purchased from a related Company. | |
( us-gaap:RelatedPartyTransactionsDisclosureTextBlock ) |
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(End Disclosure - Related Party Transactions) |
|
Disclosure - Income Taxes |
Disclosure - Income Taxes (USD $) |
12 Months Ended |
( us-gaap:IncomeTaxDisclosureAbstract ) |
|
|
Dec. 31, 2019 |
|
|
|
|
|
|
Income Taxes |
10. Income Taxes
The Company has a net operating loss carried
forward of approximately $3,257,000 available to offset taxable income in future years which commence expiring in fiscal 2030.
The U.S. Tax Reform Act amends the Internal
Revenue Code to reduce tax rates and modify policies, credits, and deductions for individuals and business. For businesses, the
Act reduces the corporate tax rate from a maximum of 35% to a flat 21% rate. The rate reduction is effective on January 1, 2018.
As a result of the rate reduction, the Company has reduced the deferred tax asset balance as of December 31, 2017 by $80,329. As
a result of the full valuation allowance on the net deferred tax assets, there was a corresponding adjustment to the valuation
allowance for this same amount. Therefore, there is no impact on the Company’s 2017 earnings for the law change.
The significant components of deferred income
tax assets and liabilities at December 31, 2019 and 2018 are as follows:
|
|
2019 |
|
|
2018 |
|
Net Operating Loss Carryforward |
|
$ |
693,925 |
|
|
$ |
545,754, |
|
Valuation allowance |
|
|
(693,925 |
) |
|
$ |
(545,754 |
) |
Net Deferred Tax Asset |
|
$ |
- |
|
|
$ |
- |
|
The income tax benefit has been computed by
applying the weighted average income tax rates of Canada (federal and provincial statutory rates) and of the United States (federal
and state rates) of 21% to a net loss before income taxes calculated for each jurisdiction. The tax effects of significant temporary
differences, which comprise future tax assets and liabilities, are as follows:
|
|
2019 |
|
|
2018 |
|
Income tax recovery at statutory rate |
|
$ |
237,461 |
|
|
$ |
208,256 |
|
Valuation allowance change |
|
|
(237,4617 |
) |
|
$ |
(208,256 |
) |
Provision for income taxes |
|
$ |
- |
|
|
$ |
- |
|
| |
( us-gaap:IncomeTaxDisclosureTextBlock ) |
| |
|
(End Disclosure - Income Taxes) |
|
Disclosure - Commitments and Contingencies |
Disclosure - Commitments and Contingencies (USD $) |
12 Months Ended |
( us-gaap:CommitmentsAndContingenciesDisclosureAbstract ) |
|
|
Dec. 31, 2019 |
|
|
|
|
|
|
Commitments and Contingencies |
11. Commitments and Contingencies
None. | |
( us-gaap:CommitmentsAndContingenciesDisclosureTextBlock ) |
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|
(End Disclosure - Commitments and Contingencies) |
|
Disclosure - Acquisition and Discontinued Operations |
Disclosure - Acquisition and Discontinued Operations (USD $) |
12 Months Ended |
( custom:AcquisitionAndDiscontinuedOperationsAbstract [Extension] ) |
|
|
Dec. 31, 2019 |
|
|
|
|
|
|
Acquisition and Discontinued Operations |
12. Acquisition and Discontinued Operations
On March 21, 2018, the Company announced the
acquisition of Crypto Strategies Group, Inc. for consideration of $500. The Company intended to diversify its business and enter
into the cryptocurrency market through such acquisition. As the acquisition was between entities under common control with the
Company, the assets and liabilities were recorded at their carrying amount on the date of transfer. On the date of transfer, Crypto
Strategies Group, Inc. had no assets or liabilities.
On December 12, 2018, the Company dissolved
Crypto Strategies Group, Inc. and the net liabilities were assumed by a related party. | |
( custom:AcquisitionAndDiscontinuedOperationsTextBlock [Extension] ) |
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|
(End Disclosure - Acquisition and Discontinued Operations) |
|
Disclosure - Subsequent Events |
Disclosure - Subsequent Events (USD $) |
12 Months Ended |
( us-gaap:SubsequentEventsAbstract ) |
|
|
Dec. 31, 2019 |
|
|
|
|
|
|
Subsequent Events |
13. Subsequent Events
None. | |
( us-gaap:SubsequentEventsTextBlock ) |
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|
(End Disclosure - Subsequent Events) |
|
Disclosure - Summary of Significant Accounting Policies (Policies) |
Disclosure - Summary of Significant Accounting Policies (Policies) (USD $) |
12 Months Ended |
( us-gaap:AccountingPoliciesAbstract ) |
|
|
Dec. 31, 2019 |
|
|
|
|
|
|
Use of Estimates |
Use of Estimates
The preparation of financial statements in
conformity with generally accepted accounting principles in the United States requires management to make estimates and assumptions
that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the
financial statements and the reported amounts of revenues and expenses during the reporting period. The Company regularly evaluates
estimates and assumptions related to the fair values of convertible debentures, derivative liability, stock-based compensation,
and deferred income tax asset valuation allowances. The Company bases its estimates and assumptions on current facts, historical
experience and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis
for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily
apparent from other sources. The actual results experienced by the Company may differ materially and adversely from the Company’s
estimates. To the extent there are material differences between the estimates and the actual results, future results of operations
will be affected.
Certain reclassifications have been made to
prior-year amounts to conform to the current period presentation. | |
( us-gaap:UseOfEstimates ) |
| |
Cash Equivalents |
Cash Equivalents
The Company considers all highly liquid instruments
with maturities of three months or less at the time of issuance to be cash equivalents. Amounts receivable from credit card processors
are also considered cash equivalents because they are both short-term and highly liquid in nature. | |
( us-gaap:CashAndCashEquivalentsPolicyTextBlock ) |
| |
Intangible Assets |
Intangible Assets
Intangible assets are carried at the purchased
cost less accumulated amortization. Amortization is computed over the estimated useful lives of the respective assets, generally
five years. | |
( us-gaap:IntangibleAssetsFiniteLivedPolicy ) |
| |
Impairment of Long-Lived Assets |
Impairment of Long-Lived Assets
Long-lived assets and certain identifiable
intangible assets to be held and used are reviewed for impairment whenever events or changes in circumstances indicate that the
carrying amount of such assets may not be recoverable. Determination of recoverability is based on an estimate of undiscounted
future cash flows resulting from the use of the asset and its eventual disposition. Measurement of an impairment loss for long-lived
assets and certain identifiable intangible assets that management expects to hold and use is based on the fair value of the asset.
Long-lived assets and certain identifiable intangible assets to be disposed of are reported at the lower of carrying amount or
fair value less costs to sell. | |
( us-gaap:ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock ) |
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Beneficial Conversion Features |
Beneficial Conversion Features
From time to time, the Company may issue convertible
notes that may contain an embedded beneficial conversion feature. A beneficial conversion feature exists on the date a convertible
note is issued when the fair value of the underlying common stock to which the note is convertible into is in excess of the remaining
unallocated proceeds of the note after first considering the allocation of a portion of the note proceeds to the fair value of
the warrants, if related warrants have been granted. The intrinsic value of the beneficial conversion feature is recorded as a
debt discount with a corresponding amount to additional paid in capital. The debt discount is amortized to interest expense over
the life of the note using the effective interest method. | |
( custom:BeneficialConversionFeaturesPolicyPolicyTextBlock [Extension] ) |
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Derivative Liability |
Derivative Liability
From time to time, the Company may issue equity
instruments that may contain an embedded derivative instrument which may result in a derivative liability. A derivative liability
exists on the date the equity instrument is issued when there is a contingent exercise provision. The derivative liability is
recorded at its fair value calculated by using an option pricing model. The fair value of the derivative liability is then calculated
on each balance sheet date with the corresponding gains and losses recorded in the statement of operations. | |
( us-gaap:DerivativesPolicyTextBlock ) |
| |
Basic and Diluted Net Loss Per Share |
Basic and Diluted Net Loss Per Share
The Company computes net loss per share in
accordance with ASC 260, Earnings Per Share, which requires presentation of both basic and diluted earnings per share (EPS) on
the face of the income statement. Basic EPS is computed by dividing net loss available to common shareholders (numerator) by the
weighted average number of shares outstanding (denominator) during the period. Diluted EPS gives effect to all dilutive potential
common shares outstanding during the period using the treasury stock method and convertible preferred stock using the if-converted
method. In computing Diluted EPS, the average stock price for the period is used in determining the number of shares assumed to
be purchased from the exercise of stock options or warrants. Diluted EPS excludes all dilutive potential shares if their effect
is anti-dilutive. On December 31, 2019 and December 31, 2018, the Company had 10,000,000 and 10,000,000 potentially dilutive shares
from outstanding convertible debentures, respectively. | |
( us-gaap:EarningsPerSharePolicyTextBlock ) |
| |
Income Taxes |
Income Taxes
Potential benefits of income tax losses are
not recognized in the accounts until realization is more likely than not. Pursuant to ASC 740, the Company is required to compute
tax asset benefits for net operating losses carried forward. The potential benefits of net operating losses have not been recognized
in these consolidated financial statements because the Company cannot be assured it is more likely than not it will utilize the
net operating losses carried forward in future years. Unrecognized tax positions, if ever recognized in the consolidated financial
statements, are recorded in the statement of operations as part of the income tax provision. Our policy is to recognize interest
and penalties accrued on uncertain tax positions, if any, as part of the income tax provision. The Company has no liability for
uncertain tax positions. Unrecognized tax positions, if ever recognized in the consolidated financial statements, are recorded
in the statement of operations as part of the income tax provision. The Company’s policy is to recognize interest and penalties
accrued on uncertain tax positions, if any, as part of the income tax provision. The Company has no liability for uncertain tax
positions.
On March 22, 2017, tax reform legislation
known as the Tax Cuts and Jobs Act (the “U.S. Tax Reform Act”) was enacted in the United States. The U.S. Tax Reform
Act, among other things, reduced the U.S. corporate income tax rate from 35% to 21% beginning in 2018. On March 22, 2017, the
SEC staff issued Staff Accounting Bulletin No. 118 (“SAB 118”), which provides guidance on how to account for the
effects of the U.S. Tax Reform Act under ASC 740. | |
( us-gaap:IncomeTaxPolicyTextBlock ) |
| |
Financial Instruments |
Financial Instruments
ASC 820, “Fair Value Measurements”
and ASC 825, Financial Instruments, requires an entity to maximize the use of observable inputs and minimize the use of unobservable
inputs when measuring fair value. It establishes a fair value hierarchy based on the level of independent, objective evidence surrounding
the inputs used to measure fair value. A financial instrument categorized within the fair value hierarchy is based upon the lowest
level of input that is significant to the fair value measurement. It prioritizes the inputs into three levels that may be used
to measure fair value:
Level 1
Level 1 applies to assets or liabilities for
which there are quoted prices in active markets for identical assets or liabilities.
Level 2
Level 2 applies to assets or liabilities for
which there are inputs other than quoted prices that are observable for the asset or liability such as quoted prices for similar
assets or liabilities in active markets; quoted prices for identical assets or liabilities in markets with insufficient volume
or infrequent transactions (less active markets); or model-derived valuations in which significant inputs are observable or can
be derived principally from, or corroborated by, observable market data.
Level 3
Level 3 applies to assets or liabilities for
which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the
assets or liabilities.
Assets and liabilities measured at fair value
on a recurring basis were presented on the Company’s balance sheet as at December 31, 2019 and 2018 as follows:
Description |
|
Fair Value Measurements at December 31, 2019 Using Fair Value Hierarchy |
|
|
|
Total |
|
|
Level 1 |
|
|
Level 2 |
|
|
Level 3 |
|
Derivative liability |
|
$ |
777,118 |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
777,118 |
|
Total |
|
$ |
777,118 |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
777,118 |
|
Description |
|
Fair Value Measurements at December 31, 2018 Using Fair Value Hierarchy |
|
|
|
Total |
|
|
Level 1 |
|
|
Level 2 |
|
|
Level 3 |
|
Derivative liability |
|
$ |
574,797 |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
574,797 |
|
Total |
|
$ |
574,797 |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
574,797 |
|
The carrying values of all of our other financial
instruments, which include accounts payable and accrued liabilities, and amounts due to related parties approximate their current
fair values because of their nature and respective maturity dates or durations. | |
( us-gaap:FairValueOfFinancialInstrumentsPolicy ) |
| |
Advertising Expenses |
Advertising Expenses
Advertising expenses are included in general
and administrative expenses in the Statements of Operations and are expensed as incurred. The Company incurred $14,080 and $55,838
in advertising and promotion expenses in the years ended December 31, 2019 and 2018, respectively. | |
( us-gaap:AdvertisingCostsPolicyTextBlock ) |
| |
Revenue Recognition |
Revenue Recognition
Revenue is recognized in accordance with ASC
606. The Company performs the following five steps: (i) identify the contract(s) with a customer, (ii) identify the performance
obligations in the contract, (iii) determine the transaction price, (iv) allocate the transaction price to the performance obligations
in the contract, and (v) recognize revenue when (or as) the entity satisfies a performance obligation. The Company applies the
five-step model to arrangements that meet the definition of a contract under Topic 606, including when it is probable that the
entity will collect the consideration it is entitled to in exchange for the goods or services it transfers to the customer. At
contract inception, once the contract is determined to be within the scope of Topic 606, the Company evaluates the goods or services
promised within each contract related performance obligation and assesses whether each promised good or service is distinct. The
Company recognizes as revenue, the amount of the transaction price that is allocated to the respective performance obligation
when (or as) the performance obligation is satisfied.. Revenues primarily include revenues from microtransactions. Microtransaction
revenues are derived from the sale of virtual goods to the Company’s players. Proceeds from the sales of virtual goods directly
are recognized as revenues when a player uses the virtual goods. | |
( us-gaap:RevenueRecognitionPolicyTextBlock ) |
| |
Recent Accounting Pronouncements |
Recent Accounting Pronouncements
In February 2016, the Financial Accounting
Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-02, Leases (Topic 842), which
amends the existing accounting standards for leases. The new standard requires lessees to record a right-of-use (“ROU”)
asset and a corresponding lease liability on the balance sheet (with the exception of short-term leases). This new standard is
effective for annual reporting periods beginning after December 15, 2018, and interim reporting periods within those annual reporting
periods, with early adoption permitted. We adopted this new standard effective January 1, 2019. Adoption did not have any effect
on the Company as it does not have any leases.
The Company has implemented all other new
accounting pronouncements that are in effect. These pronouncements did not have any material impact on the consolidated financial
statements unless otherwise disclosed, and the Company does not believe that there are any other new accounting pronouncements
that have been issued that might have a material impact on its financial position or results of operations. | |
( us-gaap:NewAccountingPronouncementsPolicyPolicyTextBlock ) |
| |
|
(End Disclosure - Summary of Significant Accounting Policies (Policies)) |
|
Disclosure - Summary of Significant Accounting Policies (Tables) |
Disclosure - Summary of Significant Accounting Policies (Tables) (USD $) |
12 Months Ended |
( us-gaap:AccountingPoliciesAbstract ) |
|
|
Dec. 31, 2019 |
|
|
|
|
|
|
Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis |
Assets and liabilities measured at fair value
on a recurring basis were presented on the Company’s balance sheet as at December 31, 2019 and 2018 as follows:
Description |
|
Fair Value Measurements at December 31, 2019 Using Fair Value Hierarchy |
|
|
|
Total |
|
|
Level 1 |
|
|
Level 2 |
|
|
Level 3 |
|
Derivative liability |
|
$ |
777,118 |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
777,118 |
|
Total |
|
$ |
777,118 |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
777,118 |
|
Description |
|
Fair Value Measurements at December 31, 2018 Using Fair Value Hierarchy |
|
|
|
Total |
|
|
Level 1 |
|
|
Level 2 |
|
|
Level 3 |
|
Derivative liability |
|
$ |
574,797 |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
574,797 |
|
Total |
|
$ |
574,797 |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
574,797 |
|
| |
( us-gaap:ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock ) |
| |
|
(End Disclosure - Summary of Significant Accounting Policies (Tables)) |
|
Disclosure - Other Assets (Tables) |
Disclosure - Other Assets (Tables) (USD $) |
12 Months Ended |
( us-gaap:OtherAssetsAbstract ) |
|
|
Dec. 31, 2019 |
|
|
|
|
|
|
Schedule of Property and Equipment |
Furniture and fixtures consisted of the following:
|
|
December 31, |
|
|
|
2019 |
|
|
2018 |
|
Computers |
|
$ |
14,998 |
|
|
$ |
39,226 |
|
Accumulated Depreciation |
|
|
(9,818 |
) |
|
|
(10,373 |
) |
|
|
$ |
5,180 |
|
|
$ |
28,853 |
|
| |
( us-gaap:PropertyPlantAndEquipmentTextBlock ) |
| |
Schedule of Intangible Assets |
The software consisted of the following:
|
|
December 31, |
|
|
|
2019 |
|
|
2018 |
|
Software |
|
$ |
1,200,000 |
|
|
$ |
1,200,000 |
|
Accumulated Amortization |
|
|
(1,200,000 |
) |
|
|
(750,000 |
) |
|
|
$ |
- |
|
|
$ |
450,000 |
|
| |
( us-gaap:ScheduleOfIntangibleAssetsAndGoodwillTableTextBlock ) |
| |
|
(End Disclosure - Other Assets (Tables)) |
|
Disclosure - Derivative Liabilities (Tables) |
Disclosure - Derivative Liabilities (Tables) (USD $) |
12 Months Ended |
( us-gaap:DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract ) |
|
|
Dec. 31, 2019 |
|
|
|
|
|
|
Schedule of Derivative Liability |
A summary of the activity of the derivative
liability is shown below:
Balance, December 31, 2017 |
|
$ |
570,643 |
|
Change in value |
|
|
4,154 |
|
Balance, December 31, 2018 |
|
|
574,797 |
|
Change in value |
|
|
202,321 |
|
Balance, December 31, 2019 |
|
$ |
777,118 |
|
| |
( us-gaap:ScheduleOfDerivativeLiabilitiesAtFairValueTableTextBlock ) |
| |
|
(End Disclosure - Derivative Liabilities (Tables)) |
|
Disclosure - Income Taxes (Tables) |
Disclosure - Income Taxes (Tables) (USD $) |
12 Months Ended |
( us-gaap:IncomeTaxDisclosureAbstract ) |
|
|
Dec. 31, 2019 |
|
|
|
|
|
|
Schedule of Deferred Tax Assets and Liabilities |
The significant components of deferred income
tax assets and liabilities at December 31, 2019 and 2018 are as follows:
|
|
2019 |
|
|
2018 |
|
Net Operating Loss Carryforward |
|
$ |
693,925 |
|
|
$ |
545,754, |
|
Valuation allowance |
|
|
(693,925 |
) |
|
$ |
(545,754 |
) |
Net Deferred Tax Asset |
|
$ |
- |
|
|
$ |
- |
|
| |
( us-gaap:ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock ) |
| |
Schedule of Components of Income Tax Expense |
The income tax benefit has been computed by
applying the weighted average income tax rates of Canada (federal and provincial statutory rates) and of the United States (federal
and state rates) of 21% to a net loss before income taxes calculated for each jurisdiction. The tax effects of significant temporary
differences, which comprise future tax assets and liabilities, are as follows:
|
|
2019 |
|
|
2018 |
|
Income tax recovery at statutory rate |
|
$ |
237,461 |
|
|
$ |
208,256 |
|
Valuation allowance change |
|
|
(237,4617 |
) |
|
$ |
(208,256 |
) |
Provision for income taxes |
|
$ |
- |
|
|
$ |
- |
|
| |
( us-gaap:ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock ) |
| |
|
(End Disclosure - Income Taxes (Tables)) |
|
Disclosure - Nature of Operations and Continuance of Business (Details Narrative) |
Disclosure - Nature of Operations and Continuance of Business (Details Narrative) (USD $) |
|
0 Months Ended |
|
( us-gaap:OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract ) |
|
|
|
|
Dec. 31, 2019 |
Feb. 17, 2017 |
Feb. 17, 2017 |
( srt:TitleOfIndividualAxis ) |
|
|
|
|
|
Board of Directors [Member] |
|
( srt:TitleOfIndividualWithRelationshipToEntityDomain ) |
|
|
|
Working capital deficiency |
2,751,601 | |
| |
| |
( custom:WorkingCapitalDeficiency [Extension] ) |
| |
| |
| |
Accumulated deficit |
7,011,482 | |
| |
| |
( us-gaap:RetainedEarningsAccumulatedDeficit ) |
| |
| |
| |
Reverse stock split |
| |
1 for 1,000 | |
| |
( us-gaap:StockholdersEquityReverseStockSplit ) |
| |
| |
| |
Common stock, shares authorized |
100,000,000 | |
| |
2,000,000,000 | |
( us-gaap:CommonStockSharesAuthorized ) |
| |
| |
| |
Preferred stock, shares authorized |
2,250,000 | |
| |
450,000,000 | |
( us-gaap:PreferredStockSharesAuthorized ) |
| |
| |
| |
|
(End Disclosure - Nature of Operations and Continuance of Business (Details Narrative)) |
|
Disclosure - Summary of Significant Accounting Policies (Details Narrative) |
Disclosure - Summary of Significant Accounting Policies (Details Narrative) (USD $) |
12 Months Ended |
( us-gaap:AccountingPoliciesAbstract ) |
|
|
Dec. 31, 2019 |
Dec. 31, 2018 |
|
|
|
|
|
|
|
|
|
Estimated useful lives |
P5Y | |
| |
( us-gaap:FiniteLivedIntangibleAssetUsefulLife ) |
| |
| |
Earnings per share, potentially dilutive securities |
10,000,000 | |
10,000,000 | |
( us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount ) |
| |
| |
Income tax description |
On March 22, 2017, tax reform legislation known as the Tax Cuts and Jobs Act (the "U.S. Tax Reform Act") was enacted in the United States. The U.S. Tax Reform Act, among other things, reduced the U.S. corporate income tax rate from 35% to 21% beginning in 2018. | |
| |
( us-gaap:IncomeTaxExaminationDescription ) |
| |
| |
Corporate income tax rate |
0.21 | |
| |
( us-gaap:EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate ) |
| |
| |
Advertising and promotion expenses |
14,080 | |
55,838 | |
( us-gaap:AdvertisingExpense ) |
| |
| |
|
(End Disclosure - Summary of Significant Accounting Policies (Details Narrative)) |
|
Disclosure - Summary of Significant Accounting Policies - Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) |
Disclosure - Summary of Significant Accounting Policies - Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) (USD $) |
|
|
|
|
|
|
|
( us-gaap:AccountingPoliciesAbstract ) |
|
|
|
|
|
|
|
|
Dec. 31, 2019 |
Dec. 31, 2019 |
Dec. 31, 2019 |
Dec. 31, 2019 |
Dec. 31, 2018 |
Dec. 31, 2018 |
Dec. 31, 2018 |
( us-gaap:FairValueByFairValueHierarchyLevelAxis ) |
|
|
|
|
|
|
|
|
|
Level 1 [Member] |
Level 2 [Member] |
Level 3 [Member] |
|
Level 1 [Member] |
Level 2 [Member] |
( us-gaap:FairValueMeasurementsFairValueHierarchyDomain ) |
|
|
|
|
|
|
|
Derivative liability |
777,118 | |
— | |
— | |
777,118 | |
574,797 | |
— | |
— | |
( us-gaap:DerivativeLiabilitiesCurrent ) |
| |
| |
| |
| |
| |
| |
| |
Total |
777,118 | |
— | |
— | |
777,118 | |
574,797 | |
— | |
— | |
( us-gaap:DerivativeFairValueOfDerivativeLiability ) |
| |
| |
| |
| |
| |
| |
| |
|
Table continued from above |
|
Disclosure - Summary of Significant Accounting Policies - Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) (USD $) |
|
( us-gaap:AccountingPoliciesAbstract ) |
|
|
Dec. 31, 2018 |
( us-gaap:FairValueByFairValueHierarchyLevelAxis ) |
|
|
Level 3 [Member] |
( us-gaap:FairValueMeasurementsFairValueHierarchyDomain ) |
|
Derivative liability |
574,797 | |
( us-gaap:DerivativeLiabilitiesCurrent ) |
| |
Total |
574,797 | |
( us-gaap:DerivativeFairValueOfDerivativeLiability ) |
| |
|
(End Disclosure - Summary of Significant Accounting Policies - Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis (Details)) |
|
Disclosure - Other Assets (Details Narrative) |
Disclosure - Other Assets (Details Narrative) (USD $) |
12 Months Ended |
0 Months Ended |
3 Months Ended |
( us-gaap:OtherAssetsAbstract ) |
|
|
|
|
Dec. 31, 2019 |
Dec. 31, 2018 |
Feb. 17, 2016 |
Dec. 31, 2018 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation expenses |
5,416 | |
7,557 | |
| |
| |
( us-gaap:Depreciation ) |
| |
| |
| |
| |
Payment to acquire software |
| |
| |
1,200,000 | |
| |
( us-gaap:PaymentsToAcquireSoftware ) |
| |
| |
| |
| |
Estimated useful lives |
P5Y | |
| |
| |
P1Y2M30D | |
( us-gaap:FiniteLivedIntangibleAssetUsefulLife ) |
| |
| |
| |
| |
Amortization of intangible assets |
450,000 | |
300,000 | |
| |
| |
( us-gaap:AmortizationOfIntangibleAssets ) |
| |
| |
| |
| |
|
(End Disclosure - Other Assets (Details Narrative)) |
|
Disclosure - Other Assets - Schedule of Property and Equipment (Details) |
Disclosure - Other Assets - Schedule of Property and Equipment (Details) (USD $) |
|
|
|
|
( us-gaap:OtherAssetsAbstract ) |
|
|
|
|
|
Dec. 31, 2019 |
Dec. 31, 2019 |
Dec. 31, 2018 |
Dec. 31, 2018 |
( us-gaap:PropertyPlantAndEquipmentByTypeAxis ) |
|
|
|
|
|
Computers [Member] |
|
Computers [Member] |
|
( us-gaap:PropertyPlantAndEquipmentTypeDomain ) |
|
|
|
|
Property and equipment, gross |
14,998 | |
| |
39,226 | |
| |
( us-gaap:PropertyPlantAndEquipmentGross ) |
| |
| |
| |
| |
Accumulated Depreciation |
| |
(9,818 | ) |
| |
(10,373 | ) |
( us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment ) |
| |
| |
| |
| |
Property and equipment, net |
| |
5,180 | |
| |
28,853 | |
( us-gaap:PropertyPlantAndEquipmentNet ) |
| |
| |
| |
| |
|
(End Disclosure - Other Assets - Schedule of Property and Equipment (Details)) |
|
Disclosure - Other Assets - Schedule of Intangible Assets (Details) |
Disclosure - Other Assets - Schedule of Intangible Assets (Details) (USD $) |
|
|
( us-gaap:OtherAssetsAbstract ) |
|
|
|
Dec. 31, 2019 |
Dec. 31, 2018 |
|
|
|
|
|
|
|
|
|
Software |
1,200,000 | |
1,200,000 | |
( us-gaap:FiniteLivedIntangibleAssetsGross ) |
| |
| |
Accumulated Amortization |
(1,200,000 | ) |
(750,000 | ) |
( us-gaap:FiniteLivedIntangibleAssetsAccumulatedAmortization ) |
| |
| |
Total |
— | |
450,000 | |
( us-gaap:FiniteLivedIntangibleAssetsNet ) |
| |
| |
|
(End Disclosure - Other Assets - Schedule of Intangible Assets (Details)) |
|
Disclosure - Debt (Details Narrative) |
Disclosure - Debt (Details Narrative) (USD $) |
|
|
0 Months Ended |
|
|
0 Months Ended |
( us-gaap:DebtDisclosureAbstract ) |
|
|
|
|
|
|
|
Apr. 2, 2015 |
Apr. 2, 2015 |
Apr. 2, 2015 |
Apr. 9, 2015 |
Apr. 9, 2015 |
Feb. 17, 2016 |
Feb. 17, 2016 |
( us-gaap:ShortTermDebtTypeAxis ) |
|
|
|
|
|
|
|
|
Convertible Debentures [Member] Iconic Holdings, LLC [Member] Maximum [Member] |
Convertible Debentures [Member] Iconic Holdings, LLC [Member] |
Convertible Debentures [Member] Iconic Holdings, LLC [Member] |
Convertible Debentures [Member] Iconic Holdings, LLC [Member] |
Convertible Debentures [Member] Iconic Holdings, LLC [Member] |
Convertible Debentures [Member] |
Convertible Debentures [Member] |
( us-gaap:ShortTermDebtTypeDomain ) |
|
|
|
|
|
|
|
Debt instrument, face amount |
600,000 | |
| |
| |
| |
| |
25,000 | |
| |
( us-gaap:DebtInstrumentFaceAmount ) |
| |
| |
| |
| |
| |
| |
| |
Debt instrument interest rate |
| |
0.10 | |
| |
| |
| |
0.00 | |
| |
( us-gaap:DebtInstrumentInterestRateStatedPercentage ) |
| |
| |
| |
| |
| |
| |
| |
Due date |
| |
| |
2016-04-01 | |
| |
| |
| |
2017-06-18 | |
( us-gaap:DebtConversionConvertedInstrumentExpirationOrDueDateDayMonthAndYear ) |
| |
| |
| |
| |
| |
| |
| |
Proceeds of debt receivable |
| |
| |
| |
40,000 | |
| |
| |
| |
( us-gaap:ProceedsFromConvertibleDebt ) |
| |
| |
| |
| |
| |
| |
| |
Remitted amount during period |
| |
| |
| |
30,000 | |
| |
| |
| |
( custom:RemittedAmountDuringPeriod [Extension] ) |
| |
| |
| |
| |
| |
| |
| |
Original issue discount |
| |
| |
| |
| |
4,000 | |
| |
| |
( us-gaap:DebtInstrumentUnamortizedDiscountPremiumNet ) |
| |
| |
| |
| |
| |
| |
| |
Legal expenses |
| |
| |
| |
6,000 | |
| |
| |
| |
( us-gaap:LegalFees ) |
| |
| |
| |
| |
| |
| |
| |
Note payable |
| |
| |
| |
| |
| |
8,300 | |
| |
( us-gaap:NotesPayable ) |
| |
| |
| |
| |
| |
| |
| |
Debt conversion price per share |
| |
| |
| |
| |
| |
| |
| |
( us-gaap:DebtInstrumentConvertibleConversionPrice1 ) |
| |
| |
| |
| |
| |
| |
| |
Issue date |
| |
| |
| |
| |
| |
| |
| |
( us-gaap:DebtConversionConvertedInstrumentIssuanceDateDayMonthAndYear ) |
| |
| |
| |
| |
| |
| |
| |
Debt conversion, converted instrument, amount |
| |
| |
| |
| |
| |
| |
| |
( us-gaap:DebtConversionConvertedInstrumentAmount1 ) |
| |
| |
| |
| |
| |
| |
| |
Convertible debt payable |
| |
| |
| |
| |
| |
| |
| |
( us-gaap:ConvertibleNotesPayable ) |
| |
| |
| |
| |
| |
| |
| |
Debt conversion, converted instrument, shares |
| |
| |
| |
| |
| |
| |
| |
( us-gaap:DebtConversionConvertedInstrumentSharesIssued1 ) |
| |
| |
| |
| |
| |
| |
| |
Repayment of convertible debt |
| |
| |
| |
| |
| |
| |
| |
( us-gaap:RepaymentsOfConvertibleDebt ) |
| |
| |
| |
| |
| |
| |
| |
Debt instrument, convertible, conversion ratio |
| |
| |
| |
| |
| |
| |
| |
( us-gaap:DebtInstrumentConvertibleConversionRatio1 ) |
| |
| |
| |
| |
| |
| |
| |
Debt conversion percentage |
| |
| |
| |
| |
| |
| |
| |
( us-gaap:DebtInstrumentConvertibleThresholdPercentageOfStockPriceTrigger ) |
| |
| |
| |
| |
| |
| |
| |
Initial amount of loan |
| |
| |
| |
| |
| |
| |
| |
( us-gaap:LineOfCreditFacilityAverageOutstandingAmount ) |
| |
| |
| |
| |
| |
| |
| |
Additional loan amount |
| |
| |
| |
| |
| |
| |
| |
( us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity ) |
| |
| |
| |
| |
| |
| |
| |
|
Table continued from above |
|
Disclosure - Debt (Details Narrative) (USD $) |
|
|
1 Month Ended |
|
|
|
0 Months Ended |
( us-gaap:DebtDisclosureAbstract ) |
|
|
|
|
|
|
|
|
Feb. 29, 2016 |
Feb. 29, 2016 |
Feb. 29, 2016 |
Jun. 27, 2017 |
Jun. 27, 2017 |
Jun. 27, 2017 |
Jun. 27, 2017 |
( us-gaap:ShortTermDebtTypeAxis ) |
|
|
|
|
|
|
|
|
Convertible Debentures [Member] |
Convertible Promissory Note [Member] |
Convertible Debentures [Member] |
Convertible Promissory Note [Member] |
Convertible Promissory Note [Member] Maximum [Member] |
Convertible Promissory Note [Member] Minimum [Member] |
Convertible Promissory Note [Member] |
( us-gaap:ShortTermDebtTypeDomain ) |
|
|
|
|
|
|
|
Debt instrument, face amount |
100,000 | |
100,000 | |
| |
100,000 | |
| |
| |
| |
( us-gaap:DebtInstrumentFaceAmount ) |
| |
| |
| |
| |
| |
| |
| |
Debt instrument interest rate |
0.00 | |
| |
| |
| |
| |
| |
| |
( us-gaap:DebtInstrumentInterestRateStatedPercentage ) |
| |
| |
| |
| |
| |
| |
| |
Due date |
| |
| |
2018-08-31 | |
| |
| |
| |
| |
( us-gaap:DebtConversionConvertedInstrumentExpirationOrDueDateDayMonthAndYear ) |
| |
| |
| |
| |
| |
| |
| |
Proceeds of debt receivable |
| |
| |
| |
| |
| |
| |
| |
( us-gaap:ProceedsFromConvertibleDebt ) |
| |
| |
| |
| |
| |
| |
| |
Remitted amount during period |
| |
| |
| |
| |
| |
| |
| |
( custom:RemittedAmountDuringPeriod [Extension] ) |
| |
| |
| |
| |
| |
| |
| |
Original issue discount |
| |
| |
| |
| |
| |
| |
| |
( us-gaap:DebtInstrumentUnamortizedDiscountPremiumNet ) |
| |
| |
| |
| |
| |
| |
| |
Legal expenses |
| |
| |
| |
| |
| |
| |
| |
( us-gaap:LegalFees ) |
| |
| |
| |
| |
| |
| |
| |
Note payable |
| |
| |
| |
| |
| |
| |
| |
( us-gaap:NotesPayable ) |
| |
| |
| |
| |
| |
| |
| |
Debt conversion price per share |
| |
| |
| |
| |
0.10 | |
0.08 | |
| |
( us-gaap:DebtInstrumentConvertibleConversionPrice1 ) |
| |
| |
| |
| |
| |
| |
| |
Issue date |
| |
| |
| |
| |
| |
| |
2016-02-18 | |
( us-gaap:DebtConversionConvertedInstrumentIssuanceDateDayMonthAndYear ) |
| |
| |
| |
| |
| |
| |
| |
Debt conversion, converted instrument, amount |
| |
| |
| |
| |
| |
| |
| |
( us-gaap:DebtConversionConvertedInstrumentAmount1 ) |
| |
| |
| |
| |
| |
| |
| |
Convertible debt payable |
| |
| |
| |
| |
| |
| |
| |
( us-gaap:ConvertibleNotesPayable ) |
| |
| |
| |
| |
| |
| |
| |
Debt conversion, converted instrument, shares |
| |
| |
| |
| |
| |
| |
| |
( us-gaap:DebtConversionConvertedInstrumentSharesIssued1 ) |
| |
| |
| |
| |
| |
| |
| |
Repayment of convertible debt |
| |
| |
| |
| |
| |
| |
| |
( us-gaap:RepaymentsOfConvertibleDebt ) |
| |
| |
| |
| |
| |
| |
| |
Debt instrument, convertible, conversion ratio |
| |
| |
| |
| |
| |
| |
| |
( us-gaap:DebtInstrumentConvertibleConversionRatio1 ) |
| |
| |
| |
| |
| |
| |
| |
Debt conversion percentage |
| |
| |
| |
| |
| |
| |
| |
( us-gaap:DebtInstrumentConvertibleThresholdPercentageOfStockPriceTrigger ) |
| |
| |
| |
| |
| |
| |
| |
Initial amount of loan |
| |
| |
| |
| |
| |
| |
| |
( us-gaap:LineOfCreditFacilityAverageOutstandingAmount ) |
| |
| |
| |
| |
| |
| |
| |
Additional loan amount |
| |
| |
| |
| |
| |
| |
| |
( us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity ) |
| |
| |
| |
| |
| |
| |
| |
|
Table continued from above |
|
Disclosure - Debt (Details Narrative) (USD $) |
|
0 Months Ended |
|
1 Month Ended |
|
|
( us-gaap:DebtDisclosureAbstract ) |
|
|
|
|
|
|
|
Jul. 5, 2017 |
Jul. 5, 2017 |
Jul. 25, 2017 |
Jul. 25, 2017 |
Jan. 23, 2018 |
Jan. 23, 2018 |
Apr. 15, 2015 |
( us-gaap:ShortTermDebtTypeAxis ) |
|
|
|
|
|
|
|
|
Convertible Promissory Note [Member] |
Convertible Promissory Note [Member] |
Convertible Promissory Note [Member] |
Convertible Promissory Note [Member] |
Convertible Promissory Note [Member] |
Convertible Promissory Note [Member] |
Convertible Debentures [Member] HGT Capital, LLC [Member] |
( us-gaap:ShortTermDebtTypeDomain ) |
|
|
|
|
|
|
|
Debt instrument, face amount |
| |
| |
| |
| |
| |
| |
100,000 | |
( us-gaap:DebtInstrumentFaceAmount ) |
| |
| |
| |
| |
| |
| |
| |
Debt instrument interest rate |
| |
| |
| |
| |
| |
| |
| |
( us-gaap:DebtInstrumentInterestRateStatedPercentage ) |
| |
| |
| |
| |
| |
| |
| |
Due date |
| |
| |
| |
| |
| |
| |
| |
( us-gaap:DebtConversionConvertedInstrumentExpirationOrDueDateDayMonthAndYear ) |
| |
| |
| |
| |
| |
| |
| |
Proceeds of debt receivable |
| |
| |
| |
| |
| |
| |
| |
( us-gaap:ProceedsFromConvertibleDebt ) |
| |
| |
| |
| |
| |
| |
| |
Remitted amount during period |
| |
| |
| |
| |
| |
| |
| |
( custom:RemittedAmountDuringPeriod [Extension] ) |
| |
| |
| |
| |
| |
| |
| |
Original issue discount |
| |
| |
| |
| |
| |
| |
| |
( us-gaap:DebtInstrumentUnamortizedDiscountPremiumNet ) |
| |
| |
| |
| |
| |
| |
| |
Legal expenses |
| |
| |
| |
| |
| |
| |
| |
( us-gaap:LegalFees ) |
| |
| |
| |
| |
| |
| |
| |
Note payable |
| |
| |
| |
| |
| |
| |
| |
( us-gaap:NotesPayable ) |
| |
| |
| |
| |
| |
| |
| |
Debt conversion price per share |
| |
| |
| |
| |
| |
| |
| |
( us-gaap:DebtInstrumentConvertibleConversionPrice1 ) |
| |
| |
| |
| |
| |
| |
| |
Issue date |
| |
| |
| |
| |
2016-02-18 | |
| |
| |
( us-gaap:DebtConversionConvertedInstrumentIssuanceDateDayMonthAndYear ) |
| |
| |
| |
| |
| |
| |
| |
Debt conversion, converted instrument, amount |
15,895 | |
| |
18,950 | |
| |
65,155 | |
| |
| |
( us-gaap:DebtConversionConvertedInstrumentAmount1 ) |
| |
| |
| |
| |
| |
| |
| |
Convertible debt payable |
| |
100,000 | |
| |
100,000 | |
| |
100,000 | |
50,000 | |
( us-gaap:ConvertibleNotesPayable ) |
| |
| |
| |
| |
| |
| |
| |
Debt conversion, converted instrument, shares |
| |
| |
| |
| |
1,250,001 | |
| |
| |
( us-gaap:DebtConversionConvertedInstrumentSharesIssued1 ) |
| |
| |
| |
| |
| |
| |
| |
Repayment of convertible debt |
| |
| |
| |
| |
| |
| |
| |
( us-gaap:RepaymentsOfConvertibleDebt ) |
| |
| |
| |
| |
| |
| |
| |
Debt instrument, convertible, conversion ratio |
| |
| |
| |
| |
| |
| |
| |
( us-gaap:DebtInstrumentConvertibleConversionRatio1 ) |
| |
| |
| |
| |
| |
| |
| |
Debt conversion percentage |
| |
| |
| |
| |
| |
| |
| |
( us-gaap:DebtInstrumentConvertibleThresholdPercentageOfStockPriceTrigger ) |
| |
| |
| |
| |
| |
| |
| |
Initial amount of loan |
| |
| |
| |
| |
| |
| |
| |
( us-gaap:LineOfCreditFacilityAverageOutstandingAmount ) |
| |
| |
| |
| |
| |
| |
| |
Additional loan amount |
| |
| |
| |
| |
| |
| |
| |
( us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity ) |
| |
| |
| |
| |
| |
| |
| |
|
Table continued from above |
|
Disclosure - Debt (Details Narrative) (USD $) |
3 Months Ended |
0 Months Ended |
|
0 Months Ended |
|
0 Months Ended |
( us-gaap:DebtDisclosureAbstract ) |
|
|
|
|
|
|
|
Jun. 30, 2015 |
Apr. 15, 2015 |
Sep. 21, 2018 |
Sep. 21, 2018 |
Jun. 29, 2017 |
Jun. 29, 2017 |
Aug. 14, 2017 |
( us-gaap:ShortTermDebtTypeAxis ) |
|
|
|
|
|
|
|
|
Convertible Debentures [Member] HGT Capital, LLC [Member] |
Convertible Debentures [Member] |
Convertible Promissory Note [Member] |
Convertible Promissory Note [Member] |
Convertible Promissory Note [Member] |
Convertible Promissory Note [Member] |
Convertible Promissory Note [Member] Iconic Holdings, LLC [Member] |
( us-gaap:ShortTermDebtTypeDomain ) |
|
|
|
|
|
|
|
Debt instrument, face amount |
| |
| |
107,238 | |
| |
27,000 | |
| |
| |
( us-gaap:DebtInstrumentFaceAmount ) |
| |
| |
| |
| |
| |
| |
| |
Debt instrument interest rate |
| |
| |
| |
| |
0.10 | |
| |
| |
( us-gaap:DebtInstrumentInterestRateStatedPercentage ) |
| |
| |
| |
| |
| |
| |
| |
Due date |
| |
2016-10-16 | |
| |
| |
| |
| |
| |
( us-gaap:DebtConversionConvertedInstrumentExpirationOrDueDateDayMonthAndYear ) |
| |
| |
| |
| |
| |
| |
| |
Proceeds of debt receivable |
| |
| |
| |
| |
| |
| |
| |
( us-gaap:ProceedsFromConvertibleDebt ) |
| |
| |
| |
| |
| |
| |
| |
Remitted amount during period |
| |
| |
| |
| |
| |
9,000 | |
9,000 | |
( custom:RemittedAmountDuringPeriod [Extension] ) |
| |
| |
| |
| |
| |
| |
| |
Original issue discount |
| |
| |
| |
| |
| |
| |
| |
( us-gaap:DebtInstrumentUnamortizedDiscountPremiumNet ) |
| |
| |
| |
| |
| |
| |
| |
Legal expenses |
| |
| |
| |
| |
| |
| |
| |
( us-gaap:LegalFees ) |
| |
| |
| |
| |
| |
| |
| |
Note payable |
| |
| |
| |
| |
| |
| |
| |
( us-gaap:NotesPayable ) |
| |
| |
| |
| |
| |
| |
| |
Debt conversion price per share |
| |
| |
| |
| |
| |
| |
| |
( us-gaap:DebtInstrumentConvertibleConversionPrice1 ) |
| |
| |
| |
| |
| |
| |
| |
Issue date |
| |
| |
| |
| |
| |
| |
| |
( us-gaap:DebtConversionConvertedInstrumentIssuanceDateDayMonthAndYear ) |
| |
| |
| |
| |
| |
| |
| |
Debt conversion, converted instrument, amount |
| |
| |
| |
| |
| |
| |
| |
( us-gaap:DebtConversionConvertedInstrumentAmount1 ) |
| |
| |
| |
| |
| |
| |
| |
Convertible debt payable |
| |
| |
| |
| |
| |
| |
| |
( us-gaap:ConvertibleNotesPayable ) |
| |
| |
| |
| |
| |
| |
| |
Debt conversion, converted instrument, shares |
| |
| |
| |
| |
| |
| |
| |
( us-gaap:DebtConversionConvertedInstrumentSharesIssued1 ) |
| |
| |
| |
| |
| |
| |
| |
Repayment of convertible debt |
50,000 | |
| |
| |
| |
| |
| |
| |
( us-gaap:RepaymentsOfConvertibleDebt ) |
| |
| |
| |
| |
| |
| |
| |
Debt instrument, convertible, conversion ratio |
| |
0.50 | |
| |
0.25 | |
| |
| |
| |
( us-gaap:DebtInstrumentConvertibleConversionRatio1 ) |
| |
| |
| |
| |
| |
| |
| |
Debt conversion percentage |
| |
| |
| |
| |
| |
| |
| |
( us-gaap:DebtInstrumentConvertibleThresholdPercentageOfStockPriceTrigger ) |
| |
| |
| |
| |
| |
| |
| |
Initial amount of loan |
| |
| |
| |
| |
| |
| |
| |
( us-gaap:LineOfCreditFacilityAverageOutstandingAmount ) |
| |
| |
| |
| |
| |
| |
| |
Additional loan amount |
| |
| |
| |
| |
| |
| |
| |
( us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity ) |
| |
| |
| |
| |
| |
| |
| |
|
Table continued from above |
|
Disclosure - Debt (Details Narrative) (USD $) |
|
12 Months Ended |
0 Months Ended |
|
( us-gaap:DebtDisclosureAbstract ) |
|
|
|
|
|
Mar. 31, 2018 |
Mar. 31, 2018 |
Dec. 31, 2019 |
Sep. 27, 2018 |
Sep. 27, 2018 |
( us-gaap:ShortTermDebtTypeAxis ) |
|
|
|
|
|
|
Convertible Promissory Note [Member] Iconic Holdings, LLC [Member] |
Convertible Promissory Note [Member] Iconic Holdings, LLC [Member] |
Asset Purchase Agreement [Member] CMG Holdings Group, Inc [Member] |
New Loan [Member] |
New Loan [Member] |
( us-gaap:ShortTermDebtTypeDomain ) |
|
|
|
|
|
Debt instrument, face amount |
| |
27,000 | |
| |
| |
| |
( us-gaap:DebtInstrumentFaceAmount ) |
| |
| |
| |
| |
| |
Debt instrument interest rate |
| |
| |
| |
| |
| |
( us-gaap:DebtInstrumentInterestRateStatedPercentage ) |
| |
| |
| |
| |
| |
Due date |
| |
| |
2018-08-31 | |
| |
| |
( us-gaap:DebtConversionConvertedInstrumentExpirationOrDueDateDayMonthAndYear ) |
| |
| |
| |
| |
| |
Proceeds of debt receivable |
18,000 | |
| |
60,000 | |
| |
| |
( us-gaap:ProceedsFromConvertibleDebt ) |
| |
| |
| |
| |
| |
Remitted amount during period |
| |
| |
| |
| |
| |
( custom:RemittedAmountDuringPeriod [Extension] ) |
| |
| |
| |
| |
| |
Original issue discount |
| |
| |
| |
| |
| |
( us-gaap:DebtInstrumentUnamortizedDiscountPremiumNet ) |
| |
| |
| |
| |
| |
Legal expenses |
| |
| |
| |
| |
| |
( us-gaap:LegalFees ) |
| |
| |
| |
| |
| |
Note payable |
| |
| |
| |
| |
| |
( us-gaap:NotesPayable ) |
| |
| |
| |
| |
| |
Debt conversion price per share |
| |
| |
| |
| |
| |
( us-gaap:DebtInstrumentConvertibleConversionPrice1 ) |
| |
| |
| |
| |
| |
Issue date |
| |
| |
| |
| |
| |
( us-gaap:DebtConversionConvertedInstrumentIssuanceDateDayMonthAndYear ) |
| |
| |
| |
| |
| |
Debt conversion, converted instrument, amount |
| |
| |
| |
| |
| |
( us-gaap:DebtConversionConvertedInstrumentAmount1 ) |
| |
| |
| |
| |
| |
Convertible debt payable |
| |
| |
| |
| |
| |
( us-gaap:ConvertibleNotesPayable ) |
| |
| |
| |
| |
| |
Debt conversion, converted instrument, shares |
| |
| |
| |
| |
| |
( us-gaap:DebtConversionConvertedInstrumentSharesIssued1 ) |
| |
| |
| |
| |
| |
Repayment of convertible debt |
| |
| |
| |
| |
| |
( us-gaap:RepaymentsOfConvertibleDebt ) |
| |
| |
| |
| |
| |
Debt instrument, convertible, conversion ratio |
| |
| |
0.20 | |
| |
| |
( us-gaap:DebtInstrumentConvertibleConversionRatio1 ) |
| |
| |
| |
| |
| |
Debt conversion percentage |
| |
| |
0.00 | |
| |
| |
( us-gaap:DebtInstrumentConvertibleThresholdPercentageOfStockPriceTrigger ) |
| |
| |
| |
| |
| |
Initial amount of loan |
| |
| |
| |
25,000 | |
| |
( us-gaap:LineOfCreditFacilityAverageOutstandingAmount ) |
| |
| |
| |
| |
| |
Additional loan amount |
| |
| |
| |
| |
250,000 | |
( us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity ) |
| |
| |
| |
| |
| |
|
(End Disclosure - Debt (Details Narrative)) |
|
Disclosure - Derivative Liabilities (Details Narrative) |
Disclosure - Derivative Liabilities (Details Narrative) (USD $) |
|
|
|
|
12 Months Ended |
|
( us-gaap:DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract ) |
|
|
|
|
|
|
|
Dec. 31, 2019 |
Dec. 31, 2018 |
Dec. 31, 2019 |
Dec. 31, 2018 |
Dec. 31, 2019 |
Dec. 31, 2018 |
Dec. 31, 2019 |
( us-gaap:MeasurementInputTypeAxis ) |
|
|
|
|
|
|
|
|
Historic Volatility [Member] |
Historic Volatility [Member] |
Risk Free Interest Rate [Member] |
Risk Free Interest Rate [Member] |
Expected Life [Member] |
Expected Life [Member] |
Dividend Yield [Member] |
( us-gaap:MeasurementInputTypeDomain ) |
|
|
|
|
|
|
|
Fair value assumptions, percentage |
194 | |
381.8 | |
1.48 | |
2.45 | |
| |
| |
0.00 | |
( us-gaap:DerivativeLiabilityMeasurementInput ) |
| |
| |
| |
| |
| |
| |
| |
Fair value assumptions, expected term |
| |
| |
| |
| |
P1Y | |
P1Y | |
| |
( custom:DerivativeLiabilityMeasurementInputTerm [Extension] ) |
| |
| |
| |
| |
| |
| |
| |
|
Table continued from above |
|
Disclosure - Derivative Liabilities (Details Narrative) (USD $) |
|
( us-gaap:DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract ) |
|
|
Dec. 31, 2018 |
( us-gaap:MeasurementInputTypeAxis ) |
|
|
Dividend Yield [Member] |
( us-gaap:MeasurementInputTypeDomain ) |
|
Fair value assumptions, percentage |
0.00 | |
( us-gaap:DerivativeLiabilityMeasurementInput ) |
| |
Fair value assumptions, expected term |
| |
( custom:DerivativeLiabilityMeasurementInputTerm [Extension] ) |
| |
|
(End Disclosure - Derivative Liabilities (Details Narrative)) |
|
Disclosure - Derivative Liabilities - Schedule of Derivative Liability (Details) |
Disclosure - Derivative Liabilities - Schedule of Derivative Liability (Details) (USD $) |
12 Months Ended |
( us-gaap:DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract ) |
|
|
Dec. 31, 2018 |
Dec. 31, 2019 |
|
|
|
|
|
|
|
|
|
Derivative Liability, Beginning |
570,643 | |
574,797 | |
( us-gaap:DerivativeLiabilitiesCurrent ) |
| |
| |
Change in value |
23,527 | |
202,321 | |
( us-gaap:DerivativeGainLossOnDerivativeNet ) |
| |
| |
Derivative Liability, Ending |
574,797 | |
777,118 | |
( us-gaap:DerivativeLiabilitiesCurrent ) |
| |
| |
|
(End Disclosure - Derivative Liabilities - Schedule of Derivative Liability (Details)) |
|
Disclosure - Common Stock (Details Narrative) |
Disclosure - Common Stock (Details Narrative) (USD $) |
0 Months Ended |
( us-gaap:EquityAbstract ) |
|
|
Jan. 8, 2018 |
Jan. 8, 2018 |
Jan. 9, 2018 |
Jan. 12, 2018 |
Jan. 12, 2018 |
Jan. 18, 2018 |
Jan. 23, 2018 |
( dei:LegalEntityAxis ) |
|
|
|
|
|
|
|
|
Silver Linings Management, LLC [Member] Series B Preferred Stock [Member] |
Britton & Associates [Member] Class B Preferred Stock [Member] |
Common Stock [Member] ViaOne Services [Member] |
SSB Trading [Member] Series B Preferred Stock [Member] |
CMG Holdings Group, Inc [Member] Class B Preferred Stock [Member] |
CMG Holdings Group, Inc [Member] Series B Preferred Stock [Member] |
Common Stock [Member] Iconic Holdings, LLC [Member] |
( dei:EntityDomain ) |
|
|
|
|
|
|
|
Shares converted into stock |
15,000 | |
5,000 | |
| |
10,000 | |
5,605 | |
9,000 | |
| |
( us-gaap:ConversionOfStockSharesConverted1 ) |
| |
| |
| |
| |
| |
| |
| |
Number of common shares issued for share conversion |
3,000,000 | |
1,000,000 | |
| |
2,000,000 | |
1,211,000 | |
1,800,000 | |
| |
( us-gaap:ConversionOfStockSharesIssued1 ) |
| |
| |
| |
| |
| |
| |
| |
Shares issued convertible debt |
| |
| |
200,000 | |
| |
| |
| |
65,155 | |
( us-gaap:DebtConversionConvertedInstrumentAmount1 ) |
| |
| |
| |
| |
| |
| |
| |
Debt conversion, converted instrument, shares |
| |
| |
8,333,333 | |
| |
| |
| |
814,438 | |
( us-gaap:DebtConversionConvertedInstrumentSharesIssued1 ) |
| |
| |
| |
| |
| |
| |
| |
Common stock reserved for issuance |
| |
| |
| |
| |
| |
| |
| |
( us-gaap:CommonStockCapitalSharesReservedForFutureIssuance ) |
| |
| |
| |
| |
| |
| |
| |
|
Table continued from above |
|
Disclosure - Common Stock (Details Narrative) (USD $) |
( us-gaap:EquityAbstract ) |
|
Jan. 26, 2018 |
Feb. 9, 2018 |
Apr. 16, 2018 |
Apr. 13, 2018 |
Apr. 17, 2018 |
Apr. 23, 2018 |
May. 9, 2018 |
( dei:LegalEntityAxis ) |
|
|
|
|
|
|
|
|
Michael Tadin [Member] Series B Preferred Stock [Member] |
Vik Grover [Member] Series B Preferred Stock [Member] |
Iconic Holdings, LLC [Member] Common Stock [Member] |
RedDiamond Partners, Inc [Member] Series D Preferred Stock [Member] |
RedDiamond Partners, Inc [Member] Series D Preferred Stock [Member] |
RedDiamond Partners, Inc [Member] Series D Preferred Stock [Member] |
RedDiamond Partners, Inc [Member] Series D Preferred Stock [Member] |
( dei:EntityDomain ) |
|
|
|
|
|
|
|
Shares converted into stock |
5,000 | |
8,665 | |
| |
5 | |
5 | |
5 | |
5 | |
( us-gaap:ConversionOfStockSharesConverted1 ) |
| |
| |
| |
| |
| |
| |
| |
Number of common shares issued for share conversion |
1,000,000 | |
1,733,000 | |
| |
555,556 | |
609,756 | |
806,452 | |
1,020,408 | |
( us-gaap:ConversionOfStockSharesIssued1 ) |
| |
| |
| |
| |
| |
| |
| |
Shares issued convertible debt |
| |
| |
18,000 | |
| |
| |
| |
| |
( us-gaap:DebtConversionConvertedInstrumentAmount1 ) |
| |
| |
| |
| |
| |
| |
| |
Debt conversion, converted instrument, shares |
| |
| |
1,892,828 | |
| |
| |
| |
| |
( us-gaap:DebtConversionConvertedInstrumentSharesIssued1 ) |
| |
| |
| |
| |
| |
| |
| |
Common stock reserved for issuance |
| |
| |
| |
| |
| |
| |
| |
( us-gaap:CommonStockCapitalSharesReservedForFutureIssuance ) |
| |
| |
| |
| |
| |
| |
| |
|
Table continued from above |
|
Disclosure - Common Stock (Details Narrative) (USD $) |
( us-gaap:EquityAbstract ) |
|
May. 23, 2018 |
Jun. 19, 2018 |
Jul. 9, 2018 |
Jul. 24, 2018 |
Sep. 25, 2018 |
Oct. 16, 2018 |
Nov. 1, 2018 |
( dei:LegalEntityAxis ) |
|
|
|
|
|
|
|
|
RedDiamond Partners, Inc [Member] Series D Preferred Stock [Member] |
RedDiamond Partners, Inc [Member] Series D Preferred Stock [Member] |
RedDiamond Partners, Inc [Member] Series D Preferred Stock [Member] |
RedDiamond Partners, Inc [Member] Series D Preferred Stock [Member] |
RedDiamond Partners, Inc [Member] Series D Preferred Stock [Member] |
RedDiamond Partners, Inc [Member] Series D Preferred Stock [Member] |
RedDiamond Partners, Inc [Member] Series D Preferred Stock [Member] |
( dei:EntityDomain ) |
|
|
|
|
|
|
|
Shares converted into stock |
5 | |
5 | |
5 | |
5 | |
6.50 | |
6.50 | |
6.34 | |
( us-gaap:ConversionOfStockSharesConverted1 ) |
| |
| |
| |
| |
| |
| |
| |
Number of common shares issued for share conversion |
657,895 | |
1,234,756 | |
1,250,000 | |
1,467,391 | |
1,450,893 | |
1,377,119 | |
792,750 | |
( us-gaap:ConversionOfStockSharesIssued1 ) |
| |
| |
| |
| |
| |
| |
| |
Shares issued convertible debt |
| |
| |
| |
| |
| |
| |
| |
( us-gaap:DebtConversionConvertedInstrumentAmount1 ) |
| |
| |
| |
| |
| |
| |
| |
Debt conversion, converted instrument, shares |
| |
| |
| |
| |
| |
| |
| |
( us-gaap:DebtConversionConvertedInstrumentSharesIssued1 ) |
| |
| |
| |
| |
| |
| |
| |
Common stock reserved for issuance |
| |
| |
| |
| |
| |
| |
| |
( us-gaap:CommonStockCapitalSharesReservedForFutureIssuance ) |
| |
| |
| |
| |
| |
| |
| |
|
Table continued from above |
|
Disclosure - Common Stock (Details Narrative) (USD $) |
( us-gaap:EquityAbstract ) |
|
Nov. 6, 2018 |
Nov. 13, 2018 |
Nov. 29, 2018 |
Nov. 29, 2018 |
Dec. 14, 2018 |
Dec. 21, 2018 |
Jan. 2, 2019 |
( dei:LegalEntityAxis ) |
|
|
|
|
|
|
|
|
Lincoln Acquisition Corporation [Member] Series B Preferred Stock [Member] |
RedDiamond Partners, Inc [Member] Series D Preferred Stock [Member] |
RedDiamond Partners, Inc [Member] Series D Preferred Stock [Member] |
HGT Capital, LLC [Member] |
Lincoln Acquisition Corporation [Member] Series B Preferred Stock [Member] |
RedDiamond Partners, Inc [Member] Series D Preferred Stock [Member] |
Lincoln Acquisition Corporation [Member] Series B Preferred Stock [Member] |
( dei:EntityDomain ) |
|
|
|
|
|
|
|
Shares converted into stock |
17,314 | |
6 | |
5 | |
| |
20,000 | |
10 | |
200 | |
( us-gaap:ConversionOfStockSharesConverted1 ) |
| |
| |
| |
| |
| |
| |
| |
Number of common shares issued for share conversion |
3,462,800 | |
1,027,397 | |
961,538 | |
| |
4,000,000 | |
1,811,594 | |
3,750,000 | |
( us-gaap:ConversionOfStockSharesIssued1 ) |
| |
| |
| |
| |
| |
| |
| |
Shares issued convertible debt |
| |
| |
| |
6,978 | |
| |
| |
| |
( us-gaap:DebtConversionConvertedInstrumentAmount1 ) |
| |
| |
| |
| |
| |
| |
| |
Debt conversion, converted instrument, shares |
| |
| |
| |
1,655,594 | |
| |
| |
| |
( us-gaap:DebtConversionConvertedInstrumentSharesIssued1 ) |
| |
| |
| |
| |
| |
| |
| |
Common stock reserved for issuance |
| |
| |
| |
| |
| |
| |
| |
( us-gaap:CommonStockCapitalSharesReservedForFutureIssuance ) |
| |
| |
| |
| |
| |
| |
| |
|
Table continued from above |
|
Disclosure - Common Stock (Details Narrative) (USD $) |
( us-gaap:EquityAbstract ) |
|
Jan. 10, 2019 |
( dei:LegalEntityAxis ) |
|
|
RedDiamond Partners, Inc [Member] Series D Preferred Stock [Member] |
( dei:EntityDomain ) |
|
Shares converted into stock |
6 | |
( us-gaap:ConversionOfStockSharesConverted1 ) |
| |
Number of common shares issued for share conversion |
520,833 | |
( us-gaap:ConversionOfStockSharesIssued1 ) |
| |
Shares issued convertible debt |
| |
( us-gaap:DebtConversionConvertedInstrumentAmount1 ) |
| |
Debt conversion, converted instrument, shares |
| |
( us-gaap:DebtConversionConvertedInstrumentSharesIssued1 ) |
| |
Common stock reserved for issuance |
| |
( us-gaap:CommonStockCapitalSharesReservedForFutureIssuance ) |
| |
|
(End Disclosure - Common Stock (Details Narrative)) |
|
Disclosure - Preferred Stock (Details Narrative) |
Disclosure - Preferred Stock (Details Narrative) (USD $) |
|
|
|
|
|
12 Months Ended |
( us-gaap:EquityAbstract ) |
|
|
|
|
|
|
|
Dec. 31, 2019 |
Dec. 31, 2019 |
Dec. 31, 2019 |
Dec. 31, 2019 |
Dec. 31, 2019 |
Dec. 31, 2019 |
Dec. 31, 2019 |
( srt:RangeAxis ) |
|
|
|
|
|
|
|
|
Maximum [Member] |
Series A Preferred Stock [Member] |
Series B Preferred Stock [Member] |
Series C Preferred Stock [Member] |
Series D Preferred Stock [Member] |
Class A Preferred Stock [Member] |
Class B Preferred Stock [Member] |
( srt:RangeMember ) |
|
|
|
|
|
|
|
Preferred stock, authorized |
2,250,350 | |
249,999 | |
2,000,000 | |
1 | |
| |
| |
| |
( us-gaap:PreferredUnitsAuthorized ) |
| |
| |
| |
| |
| |
| |
| |
Preferred stock, par value |
0.001 | |
0.001 | |
0.001 | |
0.001 | |
0.001 | |
| |
| |
( us-gaap:PreferredStockParOrStatedValuePerShare ) |
| |
| |
| |
| |
| |
| |
| |
Preferred stock, issued |
| |
7,500 | |
68,997 | |
1 | |
0 | |
| |
| |
( us-gaap:PreferredStockSharesIssued ) |
| |
| |
| |
| |
| |
| |
| |
|
|