STOCKHOLDER’S EQUITY

3 Months Ended

Mar. 31, 2022

Equity [Abstract]

STOCKHOLDER’S EQUITY

NOTE 10. STOCKHOLDER’S EQUITY

Common Stock

The Company did not issue any equity during the three months ended March 31, 2022.

In March 2021, the Company sold 55,372,219 shares with net proceeds of $385,000 through private placements. As of March 31, 2021, the shares were not yet issued.

In the three months ended March 31, 2021, the Company issued 107,149,148 shares of common stock related to the reverse merger in 2020 and 22,292,844 shares that were subscribed for cash in 2020 but not yet issued at December 31, 2020.

As of March 31, 2022, the Company had 2,677,529,115 shares of its common stock outstanding.

Series A Preferred Stock

On January 20, 2022, the Company entered into a purchase agreement with its former CEO Jerome Pearring in which the Company sold certain trademarks and its subsidiary Real brands Venture Group Inc. to Mr. Pearring and Mr. Pearring assumed certain notes and contingent liabilities and returned to the Company his 1,000,000 shares of Series A Preferred stock for cancellation.