STOCKHOLDERS’ DEFICIT

6 Months Ended

Jun. 30, 2024

Equity [Abstract]

STOCKHOLDERS’ DEFICIT

NOTE 5 – STOCKHOLDERS’ DEFICIT

The Company is authorized to issue 295,000,000 shares of common stock with a par value of $0.001 as of June 30, 2024, and December 31, 2023. On November 4, 2023, Trustfeed reduced its authorized shares of common stock from 1,000,000,000 shares to 295,000,000 shares. On June 3, 2023, the Board authorized the execution of a reverse split of the issued and outstanding shares of the Company’s common stock at a ratio of up to one post-split share per two thousand pre-split shares (1:2,000) at a time and exact ratio amount the Board deems appropriate. On March 2, 2023, FINRA approved a 1-for-2,000 reverse stock split of the Company’s common stock that was approved by the Board. The Company had 109,138,049 and 109,138,049 issued and outstanding shares of common stock as of June 30, 2024, and December 31, 2023, respectively. The net loss per share is ($0.00) as of June 30, 2024, and ($0.00) as of June 30, 2023.

The Company also has 500,000 authorized shares of preferred stock with a par value of $0.001 of which the Company has designated 500,000 shares as Series A Preferred Stock as of June 30, 2024 and December 31, 2023. On November 4, 2023, Trustfeed reduced its authorized shares of preferred stock, par value $0.001 per share, from 50,000,000 shares to 500,000 shares. Each share of Series A Preferred Stock is convertible, at any time, at the option of the holder into fully paid and non-assessable shares of common stock at the rate of 20 shares of common stock for each share held. In addition, the holders of the Series A Preferred shares have voting rights equal to 20 votes for each Preferred share held. As of June 30, 2024 and December 31, 2023, 500,000 and 500,000 shares of Series A Preferred stock are authorized, issued and outstanding. The Company expects that the Series A Preferred Stock will be converted into 10,000,000 shares of common stock, which is a closing condition to the Merger Agreement.

On November 4, 2023, Trustfeed filed Certificates of Withdrawal in Nevada to withdraw the Certificates of Designation for Series B Preferred Stock and Series C Preferred Stock. Following the transaction, the only designated and outstanding shares of preferred. stock are the company’s Series A Preferred Stock. No shares of Series B Preferred stock or Series C Preferred Stock are authorized, issued and outstanding.