Stockholders Deficit

6 Months Ended

Jun. 30, 2020

Equity [Abstract]

Stockholders Deficit

NOTE 6 – STOCKHOLDERS’ DEFICIT

Preferred Stock

The Company has authorized and issued 2 shares of Series AA Convertible Preferred Stock.  These shares have a liquidation preference to common stock equal to $0.125 per share.  Each share of Series AA Convertible Preferred Stock shall be convertible, at the option of the holder, into an amount equal to 40% of the Company’s fully paid and non-assessable shares of Common Stock.  The holders of Series AA Preferred Stock shall have voting rights equal 40% of the Company’s fully paid and non-assessable shares of Common Stock.

Common Stock

The following summarizes the activity of the Company’s common stock for the six months ended June 30, 2020:

On January 23, 2020, Friction & Heat, LLC, the majority shareholder of the Company entered into an agreement to sell Mr. Smith 190,000,000 shares of the Company's common stock, which is the control block of the Company.  As part of the change in control, 170,000,000 shares of the Company’s common stock were returned to Treasury and Mr. Smith was issued 2 shares of Series AA Convertible Preferred Stock.

On May 10, 2020 the Company issued 16,655,002 shares of common stock for the acquisition of the assets of Xtreme Fighting Championships, Inc. (See Note 7).

During the six months ended June 30, 2020, the Company issued 3,384,411 shares of common stock at prices ranging from $1.15 to $1.49 per share for services, totaling $4,703,157.