Document And Entity Information
Entity Registrant Name
Entity Central Index Key
Document Type
Document Period End Date
Amendment Flag
Current Fiscal Year End Date
Is Entity a Well-known Seasoned Issuer?
Is Entity a Voluntary Filer?
Is Entity's Reporting Status Current?
Entity Filer Category
Entity Public Float
Entity Common Stock, Shares Outstanding
Document Fiscal Period Focus
Document Fiscal Year Focus
Statement of Financial Position [Abstract]
ASSETS
CURRENT ASSETS
Cash
Inventory
Other current assets
Total current assets
Fixed Assets
Plant Equipment
Construction in progress
Other Assets:
Deposits
TOTAL ASSETS
LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
CURRENT LIABILITIES
Accounts payable and accrued expenses
Secured debentures payable
Loan payable - other
Derivative liability
Loan payable - related party
Total current liabilities
TOTAL LIABILITIES
STOCKHOLDERS' EQUITY (DEFICIT)
Preferred stock, $0.001 par value, 25,000,000 shares authorized, 0 shares issued and outstanding
Common stock, $0.001 par value, 250,000,000 shares authorized, 69,843,313 and 63,516,758 shares issued and outstanding (4,790,081 shares are held in reserve but are in issued and outstanding)
Additional paid in capital
Additional paid in capital - warrants
Deficit accumulated during the development stage
Total stockholders' equity (deficit)
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
Common Stock; Par Value
Common Stock; Shares Authorized
Common Stock; Shares Issued
Common Stock; Shares Outstanding
Preferred stock; Par Value
Preferred stock; Shares Authorized
Preferred stock; Shares Issued
Preferred stock; Shares Outstanding
Income Statement [Abstract]
REVENUE
COST OF REVENUES
GROSS PROFIT
OPERATING EXPENSES
Wages and professional fees
Professional fees - common stock issued and warrants issued
General and administrative
Total operating expenses
NON-OPERATING EXPENSES
Amortization of debt discount
Interest expense
Total non-operating expenses
NET (LOSS) FROM OPERATIONS
DISCONTINUED OPERATIONS:
Gain on disposal of discontined operations
Income from discontined operations
Total loss from discontinued operations
NET (LOSS)
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING
NET (LOSS) PER SHARE
Statement of Cash Flows [Abstract]
CASH FLOWS FROM OPERATING ACTIVITIES:
Net (loss)
Adjustments to reconcile net (loss) to net cash used in operating activities:
Common stock issued for services, net of cancelations, including shares issued for loss on disposal of discontinued operations ($104,880)
Warrants issued as loan fees to brokers
Amortization of debt discount
Fair value change in derivative liability
Loss on disposal of discontined operations
Income from discontined operations
Change in assets and liabilities
(Increase) in inventory
(Increase) in deposits and other current assets
Increase in accounts payable and accrued expenses
Total adjustments
Net cash (used in) operating activities
CASH FLOWS FROM INVESTING ACTIVITIES:
Expenditures related to purchase of equipment for Riverbank Plant
Expenditures related to construction of building
Net cash (used in) investing activities
CASH FLOWS FROM FINANCING ACTIVITIES:
Issuance of stock for cash
Cash paid for acquisition of Magic Bright
Proceeds received from loan payable - related party
Payments on loan payable - related party
Proceeds received from loan payable - other
Payments on loan payable - other
Proceeds received from secured debentures
Net cash provided by financing activities
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS
CASH AND CASH EQUIVALENTS - BEGINNING OF PERIOD
CASH AND CASH EQUIVALENTS - END OF PERIOD
SUPPLEMENTAL CASH FLOW INFORMATION:
Cash paid during the period for Interest
NON-CASH SUPPLEMENTAL INFORMATION:
Stock and liability for stock to be issued for services and interest
Warrants issued as loan fees to brokers
Payment of common shares by third party
Conversion of loans payable for common stock
Acquisition of Magic Bright for cash, debt and stock:
Acquired assets and liabilities Cash
Acquired assets and liabilities Accounts receivable
Acquired assets and liabilities Inventory
Acquired assets and liabilities Prepaid expenses and other current assets
Acquired assets and liabilities Fixed assets
Acquired assets and liabilities Goodwill
Acquired assets and liabilities Accounts payable and accrued expenses
Acquired assets and liabilities Deferred tax liability
Acquired assets and liabilities Long-term debt
Consideration for acquisition:
Loan payable - acquisition
Preferred stock
Common stock
Cash paid for acquisition of Magic Bright
Notes to Financial Statements
Organization and Basis of Presentation
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
STOCKHOLDERS’ EQUITY (DEFICIT)
LOAN PAYABLE – RELATED PARTY
LOAN PAYABLE – OTHER
SECURED DEBENTURES
LOAN PAYABLE – ACQUISITION
LOAN PAYBALE - BANK
PROVISION FOR INCOME TAXES
FAIR VALUE MEASUREMENTS
COMMITMENTS
ACQUISITION
INVESTMENT AGREEMENT
DISPOSITION OF MAGIC BRIGHT
SUBSEQUENT EVENTS
Amortization of Financing Costs and Discounts
Discontinued Operation, Amount of Adjustment to Prior Period Gain (Loss) on Disposal, Net of Tax
Cash Equivalents, at Carrying Value
Debt Conversion, Converted Instrument, Warrants or Options Issued
CashPaidForAcquisitionOfMagicBright