10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM 10-Q

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

For the Quarterly Period ended June 30, 2022

Commission File No. 000-56313

808 Renewable Energy Corporation

(Exact name of registrant as specified in its charter)

Nevada	80-0651522
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)

 850 Tidewater Shores Loop, Suite 402

Bradenton, Florida 34208

(Address of principal executive offices)

Phone: (631) 397-1111

(Registrant’s telephone number)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer”, “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer	☐	Accelerated filer	☐
Non-accelerated Filer	☒	Smaller reporting company	☒
		Emerging growth company	☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒

Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading Symbol(s) Name of each exchange on which registered

Indicate the number of shares outstanding of each of the issuer’s classes of common equity, as of the latest practicable date: As of August 17, 2022, the Company had 1,395,221,422 outstanding shares of its common stock, par value $0.00001.

Special Note Regarding Forward-Looking Statements

This Quarterly Report on Form 10-Q, including “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in Item 2, of Part I of this report include forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by forward-looking statements.

In some cases, you can identify forward-looking statements by terminology such as “may,” “should,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “potential,” “proposed,” “intended,” or “continue” or the negative of these terms or other comparable terminology. You should read statements that contain these words carefully, because they discuss our expectations about our future operating results or our future financial condition or state other “forward-looking” information. There may be events in the future that we are not able to accurately predict or control. Before you invest in our securities, you should be aware that the occurrence of any of the events described in this Quarterly Report could substantially harm our business, results of operations and financial condition, and that upon the occurrence of any of these events, the trading price of our securities could decline and you could lose all or part of your investment. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, growth rates, levels of activity, performance or achievements. We are under no duty to update any of the forward-looking statements after the date of this Quarterly Report to conform these statements to actual results.

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TABLE OF CONTENTS

PART I – FINANCIAL INFORMATION
Item 1.	Financial Statements
	Condensed Consolidated Balance Sheets (unaudited)	5
	Condensed Consolidated Statements of Operations (unaudited) for the 6 months ended June 30, 2022 and 2021	6
	Condensed Consolidated Statements of Operations (unaudited) for the 3 months ended June 30, 2022 and 2021	7
	Condensed Consolidated Statements of Stockholders’ Deficit (unaudited)	8
	Condensed Consolidated Statements of Cash Flows (unaudited)	9
	Notes to Condensed Consolidated Financial Statements (unaudited)	10-15
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	16
Item 3.	Quantitative and Qualitative Disclosures about Market Risk	18
Item 4.	Controls and Procedures	18
PART II – OTHER INFORMATION		19
Item 1.	Legal Proceedings	19
Item 1A.	Risk Factors	19
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	19
Item 3.	Defaults Upon Senior Securities	19
Item 4.	Mine Safety Disclosures	19
Item 5.	Other Information	19
Item 6.	Exhibits	20
Signatures		21

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808 RENEWABLE ENERGY CORPORATION AND SUBSIDIARY

CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

Condensed Consolidated Balance Sheets – June 30, 2022 and December 31, 2021	5
Condensed Consolidated Statements of Operations – Six Months Ended June 30, 2022 and 2021	6
Condensed Consolidated Statements of operations – Three Months Ended June 30, 2022 and 2021	7
Condensed Consolidated Statement of Changes in Stockholders’ Equity – Three months Ended June 30, 2022	8
Condensed Consolidated Statements of Cash Flows – Twelve Months Ended June 30, 2022 and 2021	9
Notes to Financial Statements	10-15

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808 Renewable Energy Corporation and Subsidiary

Condensed Consolidated Balance Sheets

	June 30, 2022			December 31, 2021
ASSETS
Current assets
Cash	$	397,180		$	484,230
Inventory		911,204			884,738
Receivables - other		819			-
Total current assets		1,309,203			1,368,968
Other assets
Goodwill		693,142			693,142
Furniture and Equipment, net of accumulated depreciation of $93,279 and $89,416, respectively		284,025			270,487
Intangible Assets, net of accumulated amortization of $34,100 and 31,000, respectively		71,636			74,736
Deposits		2,000			2,000
Total other assets		1,050,803			1,040,365
Total assets	$	2,360,006		$	2,409,333
LIABILITIES AND STOCKHOLDERS’ EQUITY
LIABILITIES
Current liabilities
Accounts payable	$	-		$	48,747
Credit Card Payable		40,608			-
Accrued liabilities		11,648			20,112
Accrued liabilities, related party		1,553,741			1,178,089
Loans payable		-			-
Loans payable, related party		-			82,155
Total current liabilities		1,605,997			1,329,103
Long-term liabilities
Note payable, related party		1,000,000			1,000,000
Note payable - EIDL		-			30,614
Note payable - PPP		-			37,830
Notes payable - Other		31,041			30,276
Total long-term liabilities		1,031,041			1,098,720
Total liabilities		2,637,038			2,427,823
Commitments and Contingencies		-			-
STOCKHOLDERS’ EQUITY
Preferred stock, $0.00001 and $0.001 par value, respectively; 20,000,000 shares authorized; none issued and outstanding at June 30, 2022 and December 31, 2021, respectively		-			-
Common stock, $0.00001 par value and $0.001 par value, respectively; 2,500,000,000 shares authorized; 1,395,221,422 outstanding as of June 30, 2022 and December 31, 2021, respectively		13,952			13,952
Additional paid in capital		23,669,777			23,669,777
Accumulated deficit		(24,005,959	)		(23,895,217	)
Non-controlling interest		45,198			192,998
Total stockholders’ equity (deficit)		(277,032	)		(18,490	)
Total liabilities and stockholders’ equity	$	2,360,006		$	2,409,333

The accompanying notes are an integral part of these financial statements.

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808 Renewable Energy Corporation and Subsidiary

Condensed Consolidated Statements of Operations

	Six Months Ended June 30, 2022			Predecessor Period Ended March 15, 2021			Successor Period Ended June 30, 2021			Total Period Ended June 30, 2021
Sales, net of allowances	$	359,450		$	230,491		$	56,772		$	287,263
Cost of Sales
Purchases		377,814			112,394			26,994			139,388
Labor		34,263			21,067			28,696			49,763
Freight and Shipping Costs		5,066			-			-			-
Total cost of sales		417,144			133,461			55,690			189,151
Gross profit (loss)		(57,694	)		97,030			1,082			98,112
Operating expenses
Advertising		24,098
Amortization		3,100			1,550			264			1,814
Legal and professional fees		15,593			36,567			13,772			50,339
Rent		18,437			9,350			-			9,350
Research and development		670			-			-			-
Officer salaries		84,615			13,333			-			13,333
Payroll tax expense		12,370
Salaries and wages		24,714
General and administrative - other		38,099			22,794			26,898			49,692
Total operating expenses		221,697			83,594			40,934			124,528
Net Income (Loss) from operations		(279,391	)		13,436			(39,852	)		(26,416	)
Other (expenses)
Interest, related party		(16,994	)		(2,018	)		(10,263	)		(12,281	)
Other income		37,843			11			-			11
Net Income (Loss) before income taxes		(258,543	)		11,429			(50,115	)		(38,687	)
Income taxes		-			-			-			-
Net Income (Loss) before non-controlling interest		(258,543	)		11,429			(50,115	)		(38,687	)
Less non-controlling interest		(147,801	)		-			21,322			21,322
Net income (loss)	$	(110,742	)	$	11,429		$	(71,437	)	$	(60,009	)
Net loss per common share
Basic and diluted	$ *			$  *			$  *			$  *
Weighted average number of common shares
Basic and diluted		1,395,221,422			-			952,599,454			952,599,454

* Net loss is less than $0.01 per share.

The accompanying notes are an integral part of these financial statements.

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808 Renewable Energy Corporation and Subsidiary

Condensed Consolidated Statements of Operations

	Three Months Ended June 30, 2022			Three Months Ended June 30, 2021
Sales, net of allowances	$	218,391			17,589
Cost of Sales
Purchases		275,170			7,887
Labor		15,238			25,115
Freight and Shipping Costs		3,894			-
Total cost of sales		294,302			33,002
Gross loss		(75,911	)		(15,413	)
Operating expenses
Advertising		2,081			-
Amortization		1,550			-
Legal and professional fees		6,126			-
Rent		12,400			-
Research and development		200			-
Officer salaries		44,462			-
Payroll tax expense		5,347			-
Salaries and wages		10,000			-
General and administrative - other		20,040			8,111
Total operating expenses		102,206			8,111
Net Loss from operations		(178,117	)		(23,524	)
Other (expenses)
Interest, related party		(8,414	)		(7,372	)
Other income		-			-
Net Loss before income taxes		(186,531	)		(30,896	)
Income taxes		-			-
Net Loss before non-controlling interest		(186,531	)		(30,896	)
Less non-controlling interest		(122,093	)		20,269
Net income (loss)	$	(64,438	)		(51,165	)
Net loss per common share
Basic and diluted	$	*			*
Weighted average number of common shares
Basic and diluted		1,395,221,422			1,395,221,422

* Net loss is less than $0.01 per share.

The accompanying notes are an integral part of these financial statements.

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808 Renewable Energy Corporation and Subsidiary 

Condensed Consolidated Statement of Stockholders’ Equity 

																					Total
	Preferred Stock Series D				Preferred Stock Series F				Common Stock				Additional					Non-			Stockholders’
	No Par Value				$0.001 Par Value				$0.00001 Par Value				Paid-in		Accumulated			controlling			Equity
	Shares		Amount		Shares		Amount		Shares		Amount		Capital		(Deficit)			Interest			(deficit)
BALANCES, December 31, 2021		-		-		-		-		1,395,221,422		13,952		23,669,777		(23,895,217	)		192,998			(18,490	)
Net loss for the period		-		-		-		-				-		-		(110,742	)		(147,801	)		(258,543	)
BALANCES, June 30, 2022		-	$	-		-	$	-		1,395,221,422	$	13,952	$	23,669,777	$	(24,005,959	)	$	45,198		$	(277,032	)

The accompanying notes are an integral part of these financial statements.

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808 Renewable Energy Corporation and Subsidiary

Condensed Consolidated Statements of Cash Flows

	Six Months Ended June 30, 2022			Six Months Ended June 30, 2021
OPERATING ACTIVITIES
Net loss from continuing operations attributable to common stockholders	$	(258,542	)	$	(37,326	)
Adjustments to reconcile net loss to net cash
flows used in operating activities:
Depreciation & Amortization		6,963			1,814
Forgiveness of PPP Loan		(37,380	)
Changes in:
Inventory		(26,466	)
Loans to Employees		(820	)
Accounts Payable		(48,747	)		-
Credit Cards Payable		40,608
Accrued liabilities		(8,464	)
Accrued liabilities, related party		-			10,027
Net cash (used by) operating activities		(333,298	)		(25,485	)
INVESTING ACTIVITIES
Purchase of assets		(17,400	)
Purchase of assets - Molds
Purchase of subsidiary, net of working capital					(306,858	)
Net cash used in investing activities		(17,400	)		(306,858	)
FINANCING ACTIVITIES
Sale of common shares					80,000
Repurchase of common shares					(73,814	)
Net Payments for EIDL		(30,614	)
Net disbursements on notes payable		765
Investment in Silverlight Electric Vehicles
Loans from related party, net of repayment		293,497			1,019,980
Net cash provided by financing activities		263,648			1,026,166
NET CHANGE IN CASH		(87,050	)		693,823
CASH, Beginning		484,230			-
CASH, Ending	$	397,180		$	693,823
SUPPLEMENTAL SCHEDULE OF CASH FLOW INFORMATION:
Interest paid	$	-		$	-
Income taxes paid	$	-		$	-

The accompanying notes are an integral part of these financial statements.

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Note 1 – Organization and History

On May 13, 2009, 808 Renewable Energy Corporation, (the “Company”), was incorporated in Nevada as Tri-Energy, Inc. for the purpose of acquiring and managing renewable energy products.

On March 15, 2021, the Company acquired fifty-five percent (55%) of the membership interest in SilverLight Aviation LLC (“SLA LLC”), a Florida limited liability company, that has been in business for approximately eleven years and specializes in the design, manufacture and sale of gyroplane kits to the general public throughout the United States. See Note 4 – Significant Acquisition.

On May 3, 2021 the Company entered into an Asset Purchase Agreement to acquire certain assets in the Trike field from Atelier de Motelage RB, Inc. in exchange for an aggregate of One Hundred Ninety Five Thousand ($195,000) Dollars.

In May 2021 the Company formed Silverlight Electric Vehicle Inc. (“SLEV”) to operate the electric vehicle division, sales, procurement of vehicles and or manufacturing/assembly. The Company owns Fifty One Percent (51%) of Silverlight Electric Vehicle Inc. and Remy Breton owns Forty Nine Percent (49%). Mr. Breton serves as a Vice President of Silverlight Electric Vehicle Inc.

Note 2 – Summary of Significant Accounting Policies

Principles of Consolidation

The accompanying financial include the accounts of 808 Renewable Energy Corporation, its fifty-five (55%) percent owned subsidiary, SLA LLC and its fifty-one (51%) percent owned subsidiary, SLEV. All intercompany balances have been eliminated during consolidation.

Use of Estimates in the Preparation of Consolidated Financial Statements

The preparation of consolidated 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, disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates. Significant estimates include the fair value of assets and liabilities, income taxes and the valuation allowances related to deferred tax assets and contingencies.

Revenue recognition

The Company follows the provisions of Accounting Standards Update (“ASU”) No. 2014 - 09, Revenue from Contracts with Customers (Topic 606), using the full retrospective transition method. The Company’s adoption of ASU 2014 - 09 did not have a material impact on the amount and timing of revenue recognized in its consolidated financial statements.

Under ASU 2014 - 09, the Company recognizes revenue when control of the promised services is transferred to customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those services.

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The Company derives its revenues from the sale of gyroplane kits to the general public. The Company applies the following five steps in order to determine the appropriate amount of revenue to be recognized as it fulfills its obligations under each of its contracts:

1.	Identify the contract with a customer;
2.	Identify the performance obligations in the contract;
3.	Determine the transaction price;
4.	Allocate the transaction price to performance obligations in the contract; and
5.	Recognize revenue as the performance obligation is satisfied.

For the six months ended June 30, 2022 inventory cost was adjusted in order to match the cost of goods sold with the corresponding revenue.

Impairment of Long-Lived Assets

In accordance with authoritative guidance on accounting for the impairment or disposal of long-lived assets, as set forth in Topic 360 of the Accounting Standards Codification (the “ASC”), the Company assesses the recoverability of the carrying value of its long-lived assets when events occur that indicate an impairment in value may exist. An impairment loss is indicated if the sum of the expected undiscounted future net cash flows is less than the carrying amount of the assets. If this occurs, an impairment loss is recognized for the amount by which the carrying amount of the assets exceeds the estimated fair value of the assets.

Other Comprehensive Loss

The Company has no material components of other comprehensive loss and accordingly, net loss is equal to comprehensive loss for the period.

Income Taxes

The Company uses the liability method of accounting for income taxes under which deferred tax assets and liabilities are recognized for the future tax consequences of temporary differences between the accounting bases and the tax bases of the Company’s assets and liabilities. The deferred tax assets are computed using enacted tax rates in effect for the year in which the temporary differences are expected to reverse.

The Company’s deferred income taxes include certain future tax benefits. The Company records a valuation allowance against any portion of those deferred income tax assets when it believes, based on the weight of available evidence, it is more likely than not that some portion or all of the deferred income tax asset will not be realized.

The Company has adopted ASC guidance regarding accounting for uncertainty in income taxes. This guidance clarifies the accounting for income taxes by prescribing the minimum recognition threshold an income tax position is required to meet before being recognized in the consolidated financial statements and applies to all income tax positions. Each income tax position is assessed using a two-step process. A determination is first made as to whether it is more likely than not that the income tax position will be sustained, based upon technical merits, upon examination by the taxing authorities. If the income tax position is expected to meet the more likely than not criteria, the benefit recorded in the consolidated financial statements equals the largest amount that is greater than 50% likely to be realized upon its ultimate settlement. At June 30, 2022 and December 31, 2021 there were no uncertain tax positions that required accrual.

Business Combination

The Company accounts for acquisitions in accordance with guidance found in ASC 805, Business Combinations. The guidance requires consideration given, including contingent consideration, assets acquired and liabilities assumed to be valued at their fair values at the date of acquisition. The guidance further provides that acquisition costs will generally be expenses as incurred and changes in deferred tax asset valuations and income tax uncertainties after the acquisition date generally will affect income tax expense.

ASC 805 requires that any excess of purchase price over the fair value of assets acquired, including identifiable intangibles and liabilities assumed be recognized as goodwill and any excess of fair value of acquired net assets, including identifiable intangible assets over the acquisition consideration results in a gain from bargain purchase. Prior to recording a gain, the acquiring entity must reassess whether assets acquired and assumed liabilities have been identified and recognized and perform re-measurements to verify that the consideration paid, assets acquired and liabilities assumed have been properly valued.

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Goodwill

In accordance with generally accepted accounting principles, goodwill cannot be amortized, however, it must be tested annually for impairment. This impairment test is calculated at the reporting unit level. The goodwill impairment test has two steps. The first identifies potential impairments by comparing the fair value of a reporting unit with its book value, including goodwill. If the fair value of the reporting unit exceeds the carrying amount, goodwill is not impaired and the second step is not necessary. If the carrying value exceeds the fair value, the second step calculates the possible impairment loss by comparing the implied fair value of goodwill with the carrying amount. If the implied goodwill is less than the carrying amount, a write-down is recorded. Management tested goodwill at the date of acquisition for impairment to indicate if impairment occurred. See Note 3 – Fair Value Measurement.

Loss per Share

Basic net loss per common share of stock is calculated by dividing net loss available to common stockholders by the weighted-average number of common shares outstanding during the period. Diluted net loss per common share is calculated by dividing net loss by the weighted-average number of common shares outstanding, including the effect of other dilutive securities. The Company’s had no potentially dilutive securities issued as of and during the six and twelve months ended June 30, 2022 and December 31, 2021.

Off-Balance Sheet Arrangements

As part of its ongoing business, the Company has not participated in transactions that generate relationships with unconsolidated entities or financial partnerships, such as entities often referred to as structured finance or special purpose entities (SPEs), which would have been established for the purpose of facilitating off-balance sheet arrangements or other contractually narrow or limited purposes. For the period through June 30, 2022, the Company has not been involved in any unconsolidated SPE transactions.

Subsequent Events

The Company evaluates events and transactions after the balance sheet date but before the consolidated financial statements are issued.

Note 3 – Fair Value Measurements

The Company applies the authoritative guidance applicable to all financial assets and liabilities required to be measured and reported on a fair value basis, as well as to non-financial assets and liabilities measured at fair value on a non-recurring basis, including impairments of long-lived assets. The fair value of an asset or liability is the amount that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the measurement date. The Company maximizes the use of observable inputs and minimizes the use of unobservable inputs when measuring fair value. Observable inputs are inputs that market participants would use in valuing the asset or liability based on market data obtained from sources independent of the Company. Unobservable input are inputs that reflect the Company’s assumptions of what market participants would use in valuing the asset or liability based on the information available in the circumstances.

Financial and non-financial assets and liabilities are classified within the valuation hierarchy based upon the lowest level of input that is significant to the fair value measurement. The Company’s policy is to recognize transfers in and out of the fair value hierarchy as of the end of the reporting period in which the event or change in circumstances caused the transfer. The Company has consistently applied the valuation techniques discussed below in all periods presented. The hierarchy is organized into three levels based on the reliability of the inputs as follows:

Level 1: Quoted prices in active markets for identical assets or liabilities; or

Level 2: Quoted prices in active markets for similar assets and liabilities and inputs, quoted prices for identical or similar assets or liabilities in markets that are not active and model-derived valuations whose inputs or significant value drivers are observable; or

Level 3: Unobservable pricing inputs in which there is little or no market data, which requires the reporting entity to develop its own assumptions.

The Company measured the financial or non-financial assets and liabilities at June 30, 2021 as there was a significant acquisition at March 15, 2021 within the valuation hierarchy during the twelve months ended December 31, 2021. As such, there was no impairment recorded during the twelve months ended December 31, 2021 or the 6 months ended June 30, 2022

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Note 4 – Significant Acquisition

Effective March 15, 2021, the Company acquired fifty-five (55%) of the membership interest of SLA LLC. SLA LLC is a Florida private manufacturing and retail company of gyroplane kits. The acquisition was accounted for using the acquisition method in accordance with ASC 805.

The following table presents the allocation of the consideration given to the assets acquired and liabilities assumed, based on their fair values at March 15, 2021:

Consideration Given
Cash			$	1,000,000
Allocation of Consideration Given
Cash in bank	$	691,397
Inventory		25,000
Receivables - other		2,382
Intangible asset - Design, net		66,650
Goodwill		-
Other assets		2,000
Total assets			$	787,429
Current liabilities		124,375
Long-term liabilities		105,131
Total liabilities				229,506
Non-controlling interest fair value at time of acquisition of SLA LLC				(251,065	)
Net assets acquired			$	306,858

On May 3, 2021 the Company entered into an Asset Purchase Agreement to acquire certain assets in the Trike field from Atelier de Motelage RB, Inc. in exchange for an aggregate of One Hundred Ninety Five Thousand ($195,000) Dollars through SLEV.

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Note 5 – Debt

Government Debt

On April 16, 2020, SLA LLC borrowed $37,000 from the Small Business Administration as part of the PPP in exchange for an unsecured promissory note at the rate of one percent (1%) per annum whereby the promissory note will be repaid over a period of twenty-four (24) months with the first payment due twelve months after the date of the loan. This loan was forgiven during June 2021.

On February 12, 2021, SLA LLC borrowed $37,500 from the Small Business Administration as part of the Paycheck Protection Program (“PPP”) in exchange for an unsecured promissory note at the rate of one percent (1%) per annum whereby the promissory note will be repaid over a period of sixty (60) months with the first payment due ten months after the date of the loan. On December 31, 2021, SLA LLC owes $37,830 in principal and accrued interest.

This loan was forgiven during January 2022.

On June 13, 2020, SLA LLC borrowed $29,000 from the Small Business Administration in exchange for a secured promissory note at the rate of 3.75% per annum whereby the promissory note will be repaid over a period of thirty (30) years beginning with the first payment due twenty-four months after the date of the loan in the amount of $142 per month. The promissory note is collateralized by the tangible and intangible property of SLA LLC. At December 31, 2021, SLA LLC owes 30,614 in principal and accrued interest. This loan was paid in full in March 2022.

Due to Related Party

On March 1, 2021, the Company’s majority shareholder loaned the Company $1,000,000 in order for the Company to acquire a 55% percent membership interest in SilverLight Aviation LLC in exchange for the Company issuing an unsecured promissory note at the rate of three percent (3%) per annum with all unpaid and accrued principal and interest due in full on March 1, 2023. At June 30, 2022, the Company owes $1,000,000 in principal plus accrued interest of $40,000.

During the six months ended June 30, 2022, a shareholder and officer/director of the Company loaned $299,008 to the Company. On June 30, 2022, the Company owed the shareholder $1,344,287.

During the six months ended June 30, 2022, an officer/director of the Company loaned $14,489 to the Company. On June 30, 2022, the Company owed the officer/director $97,298,779.

During the six months ended June 30, 2022, a shareholder and officer of the Company loaned $15,000 to the Company. On June 30, 2022, the Company owed the shareholder and officer $67,905.

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Note 6 – Stockholders’ Equity

Preferred Stock

The Company’s capital stock at June 30, 2022 and December 31, 2021 consists of 20,000,000 authorized shares of $0.00001 and $0.001 par value preferred stock, respectively.

Series D Convertible

On September 29, 2014, the Board of Directors established the Series D Preferred Stock, consisting of 8,000,000 shares with no par value. The Series D Preferred Stock shareholders are entitled to receive cumulative quarterly dividends at the rate of $0.15 per share per annum and will share in any liquidation, or dissolution, preference to any other distribution to the holders of common shares, an amount equal to $1.25 for each outstanding share. The holders of the Series D Preferred Stock shall have the right to convert, at their option, 24 months after the date of issuance, into common shares at a price equivalent to 40% of the Company’s average market price for ten trading days prior to conversion. The Series D Preferred Stock will automatically convert to common stock upon the earlier of (i) 24 months from the purchase date or (ii) the date specified by written consent or agreement of the holders of a majority of the outstanding shares of Series D Preferred Stock. At June 30, 2022 there are no shares of Series D Preferred Stock issued and outstanding.

Series F Convertible

On November 14, 2018, the Board of Directors established the Series F Preferred Stock, consisting of 1,500,000 shares with a par value of $0.001 per share. The Series F Preferred Stock shareholders shall have the right, at their option, at any time at the date of issuance, into common shares of the Company equal to 0.00006% of the total issued and outstanding share of common stock of the Company upon conversion, the number of common shares to be issued shall represent the same percentage of the issued and outstanding shares of common stock that the Series F Preferred Stockholder had prior to conversion. At June 30, 2022, there are no shares of Series F Preferred Stock issued and outstanding.

Common Stock

The Company’s capital stock at June 30, 2022 consists of 2,500,000,000 authorized shares of $0.00001 and $0.001 par value common stock and there are a total of 1,395,221,422 shares of issued and outstanding, respectively. There were no shares issued and outstanding as of December 31, 2021 for SLA, LLC

15

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations.

Overview

808 Renewable Energy Corporation (hereinafter the “Company”, “Our”, “We” or “Us”) is a general aviation and electric vehicle manufacturer and distributor, and our current product lines are AR-1 gyrocopter and electric reverse-trike vehicles, under the name Silverlight Aviation, LLC and Silverlight Electric Vehicles.

Critical Accounting Policies

Our significant accounting policies are more fully described in the notes to our financial statements included herein for the period ended June 30, 2022.

New and Recently Adopted Accounting Pronouncements

Any new and recently adopted accounting pronouncements are more fully described in Note 2 to our financial statements included herein for the period ended June 30, 2022.

Results of Operations

Financial Condition and Changes in Financial Condition

Overall Operating Results:

Comparison of the Three Months Ended June 30, 2022 with the Three Months Ended June 30, 2021

Revenue. For the three months ended June 30, 2022, we generated revenues of $218,391 as compared to $17,589 for the three months ended June 30, 2021. The increase in the three month period was mainly due to the acquisition of the gyrocopter division.

Operating Expenses. For the three months ended June 30, 2022 expenses were $102,206. An increase of $94,095 from June 30, 2021 expenses of $8,111. The increase was mainly due to increase in freight, parts, facility, and costs of the gyrocopter division.

Other Income. There is no other income for the three months ended June 30, 2021, and there is no other income for the three months ended June 30, 2022.

Net Income (Loss). The Company’s net loss for the three month ended June 30, 2022 of $(178,117), and June 30, 2021 of $(23,524). The increase of net loss of $(154,593) was primarily due to the costs of setting up the sales, operations and manufacturing and facilities for the gyrocopter division.

Comparison of the Six Months Ended June 30, 2022 with the Six Months Ended June 30, 2021

Revenue. For the six months ended June 30, 2022, we generated revenues of $359,450 as compared to $287,263 for the six months ended June 30, 2021. The increase in revenue for the six month period of $72,187 was due to the increase of sales distributors, and varieties of models that were presented to the market for purchase.

Operating Expenses. For the six months ended June 30, 2022, operating expenses increased from $124,528 for the six months ended June 30, 2021, to $221,697. The increase was primarily due to the acquisition of the gyrocopter division.

Other Income. For the six months ended June 30, 2021, other income was $11, compared to other income of $37,842 for the six months ended June 30, 2022. The increase in Other Income of $37, 831 was due to forgiveness of the PPP loan held by SLA.

Net Income (Loss). The Company’s net loss was $(279,390) compared to the net loss of $24,416 for the six months ended June 30, 2022 and 2021, respectively. The net loss was mainly due to a reduction of sales and increase in operational and marketing expenses.

Liquidity and Capital Resources

We are an early stage company and have generated insufficient revenue to date. We have incurred recurring losses to date. Our financial statements have been prepared assuming that we will continue as a going concern and, accordingly, do not include adjustments relating to the recoverability and realization of assets and classification of liabilities that might be necessary should we be unable to continue in operation.

16

The Company had $397,180 in cash as of June 30, 2022. The Company has negative working capital of approximately $296,793, and total stockholders’ deficit of $(277,032) as of June 30, 2022. As of June 30, 2022, the Company has yet to achieve profitable operations, and while the Company hopes to achieve profitable operations in the future, if not it may need to raise capital from stockholders or other sources to sustain operations and to ultimately achieve viable operations. These factors raise substantial doubt about the Company’s ability to continue as a going concern. The Company’s principal sources of liquidity have been cash provided by operating activities, as well as its ability to raise capital. The Company’s operating results for future periods are subject to numerous uncertainties and it is uncertain if the Company will be able to become profitable and continue growth for the foreseeable future. If management is not able to increase revenue and/or manage operating expenses, the Company may not be able to maintain profitability. The Company’s ability to continue in existence is dependent on the Company’s ability to achieve profitable operations.

Should we not be able to fulfill our cash needs through the increase of revenue we will need to raise money through outside investors through convertible notes, debt or similar instrument(s), including but not limited to the current outstanding convertible notes. The Company has no committed external source of funds, and there is no guarantee we would be able to raise such funds. The Company plans to pay off current liabilities through sales and increasing revenue through sales of Company services and or products, or through financing activities as mentioned above.

Operating Activities

Cash used in operating activities – Net cash used in operating activities was $333,298 for the six months ended June 30, 2022, and $25,485 for the six months ended June 30, 2021, an increase of $307,813 primarily as a result of the higher net loss for the period from operations.

Investing Activities

Cash used in investing activities – Net cash used in investing activities was ($17,400) for the six months ended June 30, 2022 and ($306,858) for the six months ended June 30, 2021. The decrease in net cash used in investing activities was due to the purchase of subsidiaries in prior period that did not recur in the period ended June 30, 2022.

Financing Activities

Cash provided by financing activities – During the six months ended June 30, 2022, our net cash provided by financing activities was $263,648 as compared to net cash provided of $1,026,166 for the six months ended June 30, 2021 primarily as a result of financing for the acquisition of subsidiaries during the prior year.

17

Off Balance Sheet Arrangements

We do not have any significant off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that is material to investors.

Recent Accounting Pronouncements

During the three months ended June 30, 2022, there were no accounting standards and interpretations issued which are expected to have a material impact on the Company’s financial position, operations or cash flows.

Item 3. Quantitative and Qualitative Disclosures about Market Risk

Pursuant to Item 305(e) of Regulation S-K (§ 229.305(e)), the Company is not required to provide the information required by this Item as it is a “smaller reporting company,” as defined by Rule 229.10(f)(1).

Item 4. Controls and Procedures

Evaluation of Disclosure Controls and Procedures

We have performed an evaluation under the supervision and with the participation of our management, including our President and Chief Executive Officer (CEO) and Chief Financial Officer (CFO), of the effectiveness of our disclosure controls and procedures, (as defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act) as of June 30, 2022. Based on that evaluation, our management, including our President and CEO and CFO, concluded that our disclosure controls and procedures were not effective as of June 30, 2022 to provide reasonable assurance that information required to be disclosed by us in the reports filed or submitted by us under the Exchange Act is (i) recorded, processed, summarized and reported within the time periods specified in the SEC’s rules and forms and (ii) accumulated and communicated to our management, including our principal executive officer, as appropriate to allow timely decisions regarding required disclosure due to the material weaknesses described below.

Based on our evaluation under the framework described above, our management concluded that we had “material weaknesses” (as such term is defined below) in our control environment and financial reporting process consisting of the following as of the Evaluation Date: inadequate segregation of duties.

A “material weakness” is defined under SEC rules as a deficiency, or a combination of deficiencies, in internal control over financial reporting such that there is a reasonable possibility that a material misstatement of a company’s annual or interim financial statements will not be prevented or detected on a timely basis by the company’s internal controls.

A system of controls, no matter how well designed and operated, cannot provide absolute assurance that the objectives of the system of controls are met, and no evaluation of controls can provide absolute assurance that all control issues and instances of fraud, if any, within a company have been detected.

Changes in Internal Control over Financial Reporting

During the quarter ended June 30, 2022, there were no changes in our internal control over financial reporting identified in connection with management’s evaluation of the effectiveness of our internal control over the financial reporting that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting as defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act.

18

PART II – OTHER INFORMATION

Item 1. Legal Proceedings

Neither the Company nor its property is a party to any pending legal proceeding.

Item 1A. Risk Factors

The Company is not required to provide the information required by this Item as it is a “smaller reporting company,” as defined by Rule 229.10(f)(1).

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

None.

Item 3. Defaults Upon Senior Securities

None.

Item 4. Mine Safety Disclosures

None.

Item 5. Other Information

None.

19

Item 6. Exhibits

Exhibit Number	Name of Exhibit
31.1	Certification of Chief Executive Officer, pursuant to Rule 13a-14(a) of the Exchange Act, as enacted by Section 302 of the Sarbanes-Oxley Act of 2002. (1)
31.2	Certification of Chief Financial Officer, pursuant to Rule 13a-14(a) of the Exchange Act, as enacted by Section 302 of the Sarbanes-Oxley Act of 2002. (1)
32.1	Certification of Chief Executive Officer and Chief Financial Officer, pursuant to 18 United States Code Section 1350, as enacted by Section 906 of the Sarbanes-Oxley Act of 2002. (1)
101.INS	Inline XBRL Instance Document.
101.SCH	Inline XBRL Taxonomy Extension Schema Document.
101.CAL	Inline XBRL Taxonomy Extension Calculation Linkbase Document.
101.DEF	Inline XBRL Taxonomy Extension Definition Linkbase Document.
101.LAB	Inline XBRL Taxonomy Extension Label Linkbase Document.
101.PRE	Inline XBRL Taxonomy Extension Presentation Linkbase Document.
104	Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101).

⁽¹⁾ Filed herewith. In accordance with Item 601(b)(32)(ii) of Regulation S-K and SEC Release No. 34-47986, the certifications furnished in Exhibits 32.1 and 32.2 hereto are deemed to accompany this Form 10-Q and will not be deemed “filed” for purposes of Section 18 of the Exchange Act or deemed to be incorporated by reference into any filing under the Exchange Act or the Securities Act except to the extent that the registrant specifically incorporates it by reference. 

20

SIGNATURES

In accordance with Section 13 or 15(d) of the Exchange Act, the registrant caused this report on Form 10-Q to be signed on its behalf by the undersigned, thereunto duly authorized.

Signature	Title	Date
/s/ David Chen	Chief Executive Officer, and Chairman of the Board (Principal Executive Officer and Principal Financial Officer)	August 22, 2022
David Chen
/s/ Peter Yaugh Chen	Chief Financial Officer and Director (Principal Financial Officer)	August 22, 2022
Peter Yaugh Chen

21

EX-31.1

EXHIBIT 31.1

CERTIFICATION OF CHIEF EXECUTIVE OFFICER

PURSUANT TO SECURITIES EXCHANGE ACT OF 1934

RULE 13a-14(a) OR 15d-14(a)

I, David Chen, certify that:

1.	I have reviewed this Form 10-Q for 808 Renewable Energy Corporation for the quarter ended June 30, 2022;
2.	Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3.	Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
4.	The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a.	Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant is made known to us by others within those entities, particularly during the period in which this report is being prepared;
b.	Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
c.	Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
d.	Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed, based on the most recent evaluation of internal control over financial reporting, to the registrant’s other certifying officer and registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a.	All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
b.	Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

	808 Renewable Energy Corporation
Date: August 22, 2022	By:	/s/ David Chen
	Name:	David Chen
	Title:	CEO/President
		(Chief Executive Officer)

EX-31.2

EXHIBIT 31.2

CERTIFICATION OF CHIEF FINANCIAL OFFICER

PURSUANT TO SECURITIES EXCHANGE ACT OF 1934

RULE 13a-14(a) OR 15d-14(a)

I, Peter Yaugh Chen, certify that:

1.	I have reviewed this Form 10-Q for 808 Renewable Energy Corporation for the quarter ended June 30, 2022;
2.	Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3.	Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
4.	The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15I and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a.	Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant is made known to us by others within those entities, particularly during the period in which this report is being prepared;
b.	Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
c.	Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
d.	Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed, based on my most recent evaluation of internal control over financial reporting, to the registrant’s other certifying officer and registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a.	All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
b.	Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

	808 Renewable Energy Corporation
Date: August 22, 2022	By:	/s/ Peter Yaugh Chen
	Name:	Peter Yaugh Chen
	Title:	Chief Financial Officer
		(Principal Financial Officer)

EX-32.1

EXHIBIT 32.1

CERTIFICATION OF CHIEF EXECUTIVE OFFICER AND CHIEF FINANCIAL OFFICER

PURSUANT TO 18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

The undersigned, Chief Executive Officer and Chief Financial Officer of 808 Renewable Energy Corporation, hereby certifies pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that, to their knowledge, the Quarterly Report on Form 10-Q of 808 Renewable Energy Corporation for quarter ended June 30, 2022, fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended, and that the information contained in the Quarterly Report on Form 10-Q fairly presents in all material respects the financial condition and results of operations of 808 Renewable Energy Corporation

Date: August 22, 2022	By:	/s/ David Chen
		David Chen
		Chief Executive Officer
		(Principal Executive Officer)
	By:	/s/ Peter Yaugh Chen
		Peter Yaugh Chen
		Chief Financial Officer
		(Principal Financial Officer)

A signed original of this written statement required by Section 906, or other document authenticating, acknowledging, or otherwise adopting the signatures that appear in typed form within the electronic version of this written statement required by Section 906, has been provided to 808 Renewable Energy Corporation and will be retained by 808 Renewable Energy Corporation and furnished to the Securities and Exchange Commission or its staff upon request.

XML

Cover - shares	6 Months Ended
	Jun. 30, 2022	Aug. 17, 2022
Cover [Abstract]
Entity Registrant Name	808 Renewable Energy Corporation
Entity Central Index Key	0001467913
Document Type	10-Q
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Small Business	true
Entity Shell Company	false
Entity Emerging Growth Company	true
Entity Current Reporting Status	Yes
Document Period End Date	Jun. 30, 2022
Entity Filer Category	Non-accelerated Filer
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2022
Entity Ex Transition Period	false
Entity Common Stock Shares Outstanding		1,395,221,422
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	000-56313
Entity Incorporation State Country Code	NV
Entity Tax Identification Number	80-0651522
Entity Address Address Line 1	850 Tidewater Shores Loop
Entity Address Address Line 2	Suite 402
Entity Address City Or Town	Bradenton
Entity Address Postal Zip Code	34208
City Area Code	631
Local Phone Number	397-1111
Entity Interactive Data Current	Yes
Entity Address State Or Province	FL

XML

Condensed Consolidated Balance Sheets - USD ($)	Jun. 30, 2022	Dec. 31, 2021
Current assets
Cash	$ 397,180	$ 484,230
Inventory	911,204	884,738
Receivables - other	819	0
Total current assets	1,309,203	1,368,968
Other assets
Goodwill	693,142	693,142
Furniture and Equipment, net of accumulated depreciation of $93,279 and $89,416, respectively	284,025	270,487
Intangible Assets, net of accumulated amortization of $34,100 and 31,000, respectively	71,636	74,736
Deposits	2,000	2,000
Total other assets	1,050,803	1,040,365
Total assets	2,360,006	2,409,333
Current liabilities
Accounts payable	0	48,747
Credit Card Payable	40,608	0
Accrued liabilities	11,648	20,112
Accrued liabilities, related party	1,553,741	1,178,089
Loans payable	0	0
Loans payable, related party	0	82,155
Total current liabilities	1,605,997	1,329,103
Long-term liabilities
Note payable, related party	1,000,000	1,000,000
Note payable - EIDL	0	30,614
Note payable - PPP	0	37,830
Notes payable - Other	31,041	30,276
Total long-term liabilities	1,031,041	1,098,720
Total liabilities	2,637,038	2,427,823
Commitments and Contingencies	0	0
STOCKHOLDERS' EQUITY
Preferred stock, $0.00001 and $0.001 par value, respectively; 20,000,000 shares authorized; none issued and outstanding at June 30, 2022 and December 31, 2021, respectively	0	0
Common stock, $0.00001 par value and $0.001 par value, respectively; 2,500,000,000 shares authorized; 1,395,221,422 outstanding as of June 30, 2022 and December 31, 2021, respectively	13,952	13,952
Additional paid in capital	23,669,777	23,669,777
Accumulated deficit	(24,005,959)	(23,895,217)
Non-controlling interest	45,198	192,998
Total stockholders' equity (deficit)	(277,032)	(18,490)
Total liabilities and stockholders' equity	$ 2,360,006	$ 2,409,333

XML

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($)	Jun. 30, 2022	Dec. 31, 2021
Condensed Consolidated Balance Sheets
Accumulated depreciation, furniture and equipment	$ 93,279	$ 89,416
Accumulated amortization, intangible assets	$ 34,100	$ 31,000
Preferred stock, par value per share	$ 0.00001	$ 0.001
Preferred stock, shares authorized	20,000,000	20,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value per share	$ 0.00001	$ 0.001
Common stock, shares authorized	2,500,000,000	2,500,000,000
Common stock, shares issued	1,395,221,422	1,395,221,422
Common stock, shares outstanding	1,395,221,422	1,395,221,422

XML

Condensed Consolidated Statements of Operations - USD ($)	2 Months Ended	3 Months Ended		4 Months Ended	6 Months Ended
	Mar. 15, 2021	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Sales, net of allowances		$ 218,391	$ 17,589		$ 359,450	$ 287,263
Cost of Sales
Purchases		275,170	7,887		377,814	139,388
Labor		15,238	25,115		34,263	49,763
Freight and Shipping Costs		3,894	0		5,066	0
Total cost of sales		294,302	33,002		417,144	189,151
Gross profit (loss)		(75,911)	(15,413)		(57,694)	98,112
Operating expenses
Advertising		2,081	0		24,098
Amortization		1,550	0		3,100	1,814
Legal and professional fees		6,126	0		15,593	50,339
Rent		12,400	0		18,437	9,350
Research and development		200	0		670	0
Officers Salaries		44,462	0		84,615	13,333
Payroll tax expense		5,347	0		12,370
Salaries and wages		10,000	0		24,714
General and administrative - other		20,040	8,111		38,099	49,692
Total operating expenses		102,206	8,111		221,697	124,528
Net Income (Loss) from operations		(178,117)	(23,524)		(279,391)	(26,416)
Interest, related party		(8,414)	(7,372)		(16,994)	(12,281)
Other income		0	0		37,843	11
Net Income (Loss) before income taxes		(186,531)	(30,896)		(258,543)	(38,687)
Income taxes		0	0		0	0
Net Income (Loss) before non-controlling interest		(186,531)	(30,896)		(258,543)	(38,687)
Less non-controlling interest		(122,093)	20,269		(147,801)	21,322
Net income (loss)		$ (64,438)	$ (51,165)		$ (110,742)	$ (60,009)
Weighted average number of common shares Basic and diluted		1,395,221,422	1,395,221,422		1,395,221,422	952,599,454
Predecessor Period [Member]
Sales, net of allowances	$ 230,491
Cost of Sales
Purchases	112,394
Labor	21,067
Freight and Shipping Costs	0
Total cost of sales	133,461
Gross profit (loss)	97,030
Operating expenses
Amortization	1,550
Legal and professional fees	36,567
Rent	9,350
Research and development	0
Officers Salaries	13,333
General and administrative - other	22,794
Total operating expenses	83,594
Net Income (Loss) from operations	13,436
Interest, related party	(2,018)
Other income	11
Net Income (Loss) before income taxes	11,429
Income taxes	0
Net Income (Loss) before non-controlling interest	11,429
Less non-controlling interest	0
Net income (loss)	$ 11,429
Weighted average number of common shares Basic and diluted	0
Successor Period [Member]
Sales, net of allowances				$ 56,772
Cost of Sales
Purchases				26,994
Labor				28,696
Freight and Shipping Costs				0
Total cost of sales				55,690
Gross profit (loss)				1,082
Operating expenses
Amortization				264
Legal and professional fees				13,772
Rent				0
Research and development				0
Officers Salaries				0
General and administrative - other				26,898
Total operating expenses				40,934
Net Income (Loss) from operations				(39,852)
Interest, related party				(10,263)
Other income				0
Net Income (Loss) before income taxes				(50,115)
Income taxes				0
Net Income (Loss) before non-controlling interest				(50,115)
Less non-controlling interest				21,322
Net income (loss)				$ (71,437)
Weighted average number of common shares Basic and diluted				952,599,454

XML

Condensed Consolidated Statement of Stockholders' Equity - 6 months ended Jun. 30, 2022 - USD ($)	Total	Series D Preferred Stock [Member]	Series F Preferred Stock [Member]	Common Stock	Additional Paid-In Capital	Retained Earnings (Accumulated Deficit)	Noncontrolling Interest
Balance, shares at Dec. 31, 2021				1,395,221,422
Balance, amount at Dec. 31, 2021	$ (18,490)	$ 0	$ 0	$ 13,952	$ 23,669,777	$ (23,895,217)	$ 192,998
Net loss for the period	(258,543)	0	0	$ 0	0	(110,742)	(147,801)
Balance, shares at Jun. 30, 2022				1,395,221,422
Balance, amount at Jun. 30, 2022	$ (277,032)	$ 0	$ 0	$ 13,952	$ 23,669,777	$ (24,005,959)	$ 45,198

XML

Condensed Consolidated Statements of Cash Flows - USD ($)	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
OPERATING ACTIVITIES
Net loss from continuing operations attributable to common stockholders	$ (258,542)	$ (37,326)
Adjustments to reconcile net loss to net cash flows used in operating activities:
Depreciation & Amortization	6,963	1,814
Forgiveness of PPP Loan	(37,380)
Changes in:
Inventory	(26,466)
Loans to Employees	(820)
Accounts Payable	(48,747)	0
Credit Cards Payable	40,608
Accrued liabilities	(8,464)
Accrued liabilities, related party	0	10,027
Net cash (used by) operating activities	(333,298)	(25,485)
INVESTING ACTIVITIES
Purchase of assets	(17,400)
Purchase of subsidiary, net of working capital		(306,858)
Net cash used in investing activities	(17,400)	(306,858)
FINANCING ACTIVITIES
Sale of common shares		80,000
Repurchase of common shares		(73,814)
Net Payments for EIDL	(30,614)
Net disbursements on notes payable	765
Loans from related party, net of repayment	293,497	1,019,980
Net cash provided by financing activities	263,648	1,026,166
NET CHANGE IN CASH	(87,050)	693,823
CASH, Beginning	484,230	0
CASH, Ending	397,180	693,823
SUPPLEMENTAL SCHEDULE OF CASH FLOW INFORMATION:
Interest paid	0	0
Income taxes paid	$ 0	$ 0

XML

Organization and History

6 Months Ended

Jun. 30, 2022

Organization and History

Organization and History

Note 1 – Organization and History

On May 13, 2009, 808 Renewable Energy Corporation, (the “Company”), was incorporated in Nevada as Tri-Energy, Inc. for the purpose of acquiring and managing renewable energy products.

On March 15, 2021, the Company acquired fifty-five percent (55%) of the membership interest in SilverLight Aviation LLC (“SLA LLC”), a Florida limited liability company, that has been in business for approximately eleven years and specializes in the design, manufacture and sale of gyroplane kits to the general public throughout the United States. See Note 4 – Significant Acquisition.

On May 3, 2021 the Company entered into an Asset Purchase Agreement to acquire certain assets in the Trike field from Atelier de Motelage RB, Inc. in exchange for an aggregate of One Hundred Ninety Five Thousand ($195,000) Dollars.

In May 2021 the Company formed Silverlight Electric Vehicle Inc. (“SLEV”) to operate the electric vehicle division, sales, procurement of vehicles and or manufacturing/assembly. The Company owns Fifty One Percent (51%) of Silverlight Electric Vehicle Inc. and Remy Breton owns Forty Nine Percent (49%). Mr. Breton serves as a Vice President of Silverlight Electric Vehicle Inc.

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Summary of Significant Accounting Policies

6 Months Ended

Jun. 30, 2022

Summary of Significant Accounting Policies

Summary of Significant Accounting Policies

Note 2 – Summary of Significant Accounting Policies

Principles of Consolidation

The accompanying financial include the accounts of 808 Renewable Energy Corporation, its fifty-five (55%) percent owned subsidiary, SLA LLC and its fifty-one (51%) percent owned subsidiary, SLEV. All intercompany balances have been eliminated during consolidation.

Use of Estimates in the Preparation of Consolidated Financial Statements

The preparation of consolidated 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, disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates. Significant estimates include the fair value of assets and liabilities, income taxes and the valuation allowances related to deferred tax assets and contingencies.

Revenue recognition

The Company follows the provisions of Accounting Standards Update (“ASU”) No. 2014 - 09, Revenue from Contracts with Customers (Topic 606), using the full retrospective transition method. The Company’s adoption of ASU 2014 - 09 did not have a material impact on the amount and timing of revenue recognized in its consolidated financial statements.

Under ASU 2014 - 09, the Company recognizes revenue when control of the promised services is transferred to customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those services.

The Company derives its revenues from the sale of gyroplane kits to the general public. The Company applies the following five steps in order to determine the appropriate amount of revenue to be recognized as it fulfills its obligations under each of its contracts:

1.	Identify the contract with a customer;
2.	Identify the performance obligations in the contract;
3.	Determine the transaction price;
4.	Allocate the transaction price to performance obligations in the contract; and
5.	Recognize revenue as the performance obligation is satisfied.

For the six months ended June 30, 2022 inventory cost was adjusted in order to match the cost of goods sold with the corresponding revenue.

Impairment of Long-Lived Assets

In accordance with authoritative guidance on accounting for the impairment or disposal of long-lived assets, as set forth in Topic 360 of the Accounting Standards Codification (the “ASC”), the Company assesses the recoverability of the carrying value of its long-lived assets when events occur that indicate an impairment in value may exist. An impairment loss is indicated if the sum of the expected undiscounted future net cash flows is less than the carrying amount of the assets. If this occurs, an impairment loss is recognized for the amount by which the carrying amount of the assets exceeds the estimated fair value of the assets.

Other Comprehensive Loss

The Company has no material components of other comprehensive loss and accordingly, net loss is equal to comprehensive loss for the period.

Income Taxes

The Company uses the liability method of accounting for income taxes under which deferred tax assets and liabilities are recognized for the future tax consequences of temporary differences between the accounting bases and the tax bases of the Company’s assets and liabilities. The deferred tax assets are computed using enacted tax rates in effect for the year in which the temporary differences are expected to reverse.

The Company’s deferred income taxes include certain future tax benefits. The Company records a valuation allowance against any portion of those deferred income tax assets when it believes, based on the weight of available evidence, it is more likely than not that some portion or all of the deferred income tax asset will not be realized.

The Company has adopted ASC guidance regarding accounting for uncertainty in income taxes. This guidance clarifies the accounting for income taxes by prescribing the minimum recognition threshold an income tax position is required to meet before being recognized in the consolidated financial statements and applies to all income tax positions. Each income tax position is assessed using a two-step process. A determination is first made as to whether it is more likely than not that the income tax position will be sustained, based upon technical merits, upon examination by the taxing authorities. If the income tax position is expected to meet the more likely than not criteria, the benefit recorded in the consolidated financial statements equals the largest amount that is greater than 50% likely to be realized upon its ultimate settlement. At June 30, 2022 and December 31, 2021 there were no uncertain tax positions that required accrual.

Business Combination

The Company accounts for acquisitions in accordance with guidance found in ASC 805, Business Combinations. The guidance requires consideration given, including contingent consideration, assets acquired and liabilities assumed to be valued at their fair values at the date of acquisition. The guidance further provides that acquisition costs will generally be expenses as incurred and changes in deferred tax asset valuations and income tax uncertainties after the acquisition date generally will affect income tax expense.

ASC 805 requires that any excess of purchase price over the fair value of assets acquired, including identifiable intangibles and liabilities assumed be recognized as goodwill and any excess of fair value of acquired net assets, including identifiable intangible assets over the acquisition consideration results in a gain from bargain purchase. Prior to recording a gain, the acquiring entity must reassess whether assets acquired and assumed liabilities have been identified and recognized and perform re-measurements to verify that the consideration paid, assets acquired and liabilities assumed have been properly valued.

Goodwill

In accordance with generally accepted accounting principles, goodwill cannot be amortized, however, it must be tested annually for impairment. This impairment test is calculated at the reporting unit level. The goodwill impairment test has two steps. The first identifies potential impairments by comparing the fair value of a reporting unit with its book value, including goodwill. If the fair value of the reporting unit exceeds the carrying amount, goodwill is not impaired and the second step is not necessary. If the carrying value exceeds the fair value, the second step calculates the possible impairment loss by comparing the implied fair value of goodwill with the carrying amount. If the implied goodwill is less than the carrying amount, a write-down is recorded. Management tested goodwill at the date of acquisition for impairment to indicate if impairment occurred. See Note 3 – Fair Value Measurement.

Loss per Share

Basic net loss per common share of stock is calculated by dividing net loss available to common stockholders by the weighted-average number of common shares outstanding during the period. Diluted net loss per common share is calculated by dividing net loss by the weighted-average number of common shares outstanding, including the effect of other dilutive securities. The Company’s had no potentially dilutive securities issued as of and during the six and twelve months ended June 30, 2022 and December 31, 2021.

Off-Balance Sheet Arrangements

As part of its ongoing business, the Company has not participated in transactions that generate relationships with unconsolidated entities or financial partnerships, such as entities often referred to as structured finance or special purpose entities (SPEs), which would have been established for the purpose of facilitating off-balance sheet arrangements or other contractually narrow or limited purposes. For the period through June 30, 2022, the Company has not been involved in any unconsolidated SPE transactions.

Subsequent Events

The Company evaluates events and transactions after the balance sheet date but before the consolidated financial statements are issued.

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Fair Value Measurements

6 Months Ended

Jun. 30, 2022

Fair Value Measurements

Fair Value Measurements

Note 3 – Fair Value Measurements

The Company applies the authoritative guidance applicable to all financial assets and liabilities required to be measured and reported on a fair value basis, as well as to non-financial assets and liabilities measured at fair value on a non-recurring basis, including impairments of long-lived assets. The fair value of an asset or liability is the amount that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the measurement date. The Company maximizes the use of observable inputs and minimizes the use of unobservable inputs when measuring fair value. Observable inputs are inputs that market participants would use in valuing the asset or liability based on market data obtained from sources independent of the Company. Unobservable input are inputs that reflect the Company’s assumptions of what market participants would use in valuing the asset or liability based on the information available in the circumstances.

Financial and non-financial assets and liabilities are classified within the valuation hierarchy based upon the lowest level of input that is significant to the fair value measurement. The Company’s policy is to recognize transfers in and out of the fair value hierarchy as of the end of the reporting period in which the event or change in circumstances caused the transfer. The Company has consistently applied the valuation techniques discussed below in all periods presented. The hierarchy is organized into three levels based on the reliability of the inputs as follows:

Level 1: Quoted prices in active markets for identical assets or liabilities; or

Level 2: Quoted prices in active markets for similar assets and liabilities and inputs, quoted prices for identical or similar assets or liabilities in markets that are not active and model-derived valuations whose inputs or significant value drivers are observable; or

Level 3: Unobservable pricing inputs in which there is little or no market data, which requires the reporting entity to develop its own assumptions.

The Company measured the financial or non-financial assets and liabilities at June 30, 2021 as there was a significant acquisition at March 15, 2021 within the valuation hierarchy during the twelve months ended December 31, 2021. As such, there was no impairment recorded during the twelve months ended December 31, 2021 or the 6 months ended June 30, 2022

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Significant Acquisition

6 Months Ended

Jun. 30, 2022

Significant Acquisition

Significant Acquisition

Note 4 – Significant Acquisition

Effective March 15, 2021, the Company acquired fifty-five (55%) of the membership interest of SLA LLC. SLA LLC is a Florida private manufacturing and retail company of gyroplane kits. The acquisition was accounted for using the acquisition method in accordance with ASC 805.

The following table presents the allocation of the consideration given to the assets acquired and liabilities assumed, based on their fair values at March 15, 2021:

Consideration Given
Cash			$	1,000,000
Allocation of Consideration Given
Cash in bank	$	691,397
Inventory		25,000
Receivables - other		2,382
Intangible asset - Design, net		66,650
Goodwill		-
Other assets		2,000
Total assets			$	787,429
Current liabilities		124,375
Long-term liabilities		105,131
Total liabilities				229,506
Non-controlling interest fair value at time of acquisition of SLA LLC				(251,065	)
Net assets acquired			$	306,858

On May 3, 2021 the Company entered into an Asset Purchase Agreement to acquire certain assets in the Trike field from Atelier de Motelage RB, Inc. in exchange for an aggregate of One Hundred Ninety Five Thousand ($195,000) Dollars through SLEV.

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Debt

6 Months Ended

Jun. 30, 2022

Debt

Debt

Note 5 – Debt

Government Debt

On April 16, 2020, SLA LLC borrowed $37,000 from the Small Business Administration as part of the PPP in exchange for an unsecured promissory note at the rate of one percent (1%) per annum whereby the promissory note will be repaid over a period of twenty-four (24) months with the first payment due twelve months after the date of the loan. This loan was forgiven during June 2021.

On February 12, 2021, SLA LLC borrowed $37,500 from the Small Business Administration as part of the Paycheck Protection Program (“PPP”) in exchange for an unsecured promissory note at the rate of one percent (1%) per annum whereby the promissory note will be repaid over a period of sixty (60) months with the first payment due ten months after the date of the loan. On December 31, 2021, SLA LLC owes $37,830 in principal and accrued interest.

This loan was forgiven during January 2022.

On June 13, 2020, SLA LLC borrowed $29,000 from the Small Business Administration in exchange for a secured promissory note at the rate of 3.75% per annum whereby the promissory note will be repaid over a period of thirty (30) years beginning with the first payment due twenty-four months after the date of the loan in the amount of $142 per month. The promissory note is collateralized by the tangible and intangible property of SLA LLC. At December 31, 2021, SLA LLC owes 30,614 in principal and accrued interest. This loan was paid in full in March 2022.

Due to Related Party

On March 1, 2021, the Company’s majority shareholder loaned the Company $1,000,000 in order for the Company to acquire a 55% percent membership interest in SilverLight Aviation LLC in exchange for the Company issuing an unsecured promissory note at the rate of three percent (3%) per annum with all unpaid and accrued principal and interest due in full on March 1, 2023. At June 30, 2022, the Company owes $1,000,000 in principal plus accrued interest of $40,000.

During the six months ended June 30, 2022, a shareholder and officer/director of the Company loaned $299,008 to the Company. On June 30, 2022, the Company owed the shareholder $1,344,287.

During the six months ended June 30, 2022, an officer/director of the Company loaned $14,489 to the Company. On June 30, 2022, the Company owed the officer/director $97,298,779.

During the six months ended June 30, 2022, a shareholder and officer of the Company loaned $15,000 to the Company. On June 30, 2022, the Company owed the shareholder and officer $67,905.

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Stockholders Equity

6 Months Ended

Jun. 30, 2022

Stockholders Equity

Stockholders' Equity

Note 6 – Stockholders’ Equity

Preferred Stock

The Company’s capital stock at June 30, 2022 and December 31, 2021 consists of 20,000,000 authorized shares of $0.00001 and $0.001 par value preferred stock, respectively.

Series D Convertible

On September 29, 2014, the Board of Directors established the Series D Preferred Stock, consisting of 8,000,000 shares with no par value. The Series D Preferred Stock shareholders are entitled to receive cumulative quarterly dividends at the rate of $0.15 per share per annum and will share in any liquidation, or dissolution, preference to any other distribution to the holders of common shares, an amount equal to $1.25 for each outstanding share. The holders of the Series D Preferred Stock shall have the right to convert, at their option, 24 months after the date of issuance, into common shares at a price equivalent to 40% of the Company’s average market price for ten trading days prior to conversion. The Series D Preferred Stock will automatically convert to common stock upon the earlier of (i) 24 months from the purchase date or (ii) the date specified by written consent or agreement of the holders of a majority of the outstanding shares of Series D Preferred Stock. At June 30, 2022 there are no shares of Series D Preferred Stock issued and outstanding.

Series F Convertible

On November 14, 2018, the Board of Directors established the Series F Preferred Stock, consisting of 1,500,000 shares with a par value of $0.001 per share. The Series F Preferred Stock shareholders shall have the right, at their option, at any time at the date of issuance, into common shares of the Company equal to 0.00006% of the total issued and outstanding share of common stock of the Company upon conversion, the number of common shares to be issued shall represent the same percentage of the issued and outstanding shares of common stock that the Series F Preferred Stockholder had prior to conversion. At June 30, 2022, there are no shares of Series F Preferred Stock issued and outstanding.

Common Stock

The Company’s capital stock at June 30, 2022 consists of 2,500,000,000 authorized shares of $0.00001 and $0.001 par value common stock and there are a total of 1,395,221,422 shares of issued and outstanding, respectively. There were no shares issued and outstanding as of December 31, 2021 for SLA, LLC

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Summary of Significant Accounting Policies (Policies)

6 Months Ended

Jun. 30, 2022

Summary of Significant Accounting Policies

Principles of Consolidation

The accompanying financial include the accounts of 808 Renewable Energy Corporation, its fifty-five (55%) percent owned subsidiary, SLA LLC and its fifty-one (51%) percent owned subsidiary, SLEV. All intercompany balances have been eliminated during consolidation.

Use of Estimates in the Preparation of Consolidated Financial Statements

The preparation of consolidated 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, disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates. Significant estimates include the fair value of assets and liabilities, income taxes and the valuation allowances related to deferred tax assets and contingencies.

Revenue Recognition

The Company follows the provisions of Accounting Standards Update (“ASU”) No. 2014 - 09, Revenue from Contracts with Customers (Topic 606), using the full retrospective transition method. The Company’s adoption of ASU 2014 - 09 did not have a material impact on the amount and timing of revenue recognized in its consolidated financial statements.

Under ASU 2014 - 09, the Company recognizes revenue when control of the promised services is transferred to customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those services.

The Company derives its revenues from the sale of gyroplane kits to the general public. The Company applies the following five steps in order to determine the appropriate amount of revenue to be recognized as it fulfills its obligations under each of its contracts:

1.	Identify the contract with a customer;
2.	Identify the performance obligations in the contract;
3.	Determine the transaction price;
4.	Allocate the transaction price to performance obligations in the contract; and
5.	Recognize revenue as the performance obligation is satisfied.

For the six months ended June 30, 2022 inventory cost was adjusted in order to match the cost of goods sold with the corresponding revenue.

Impairment of Long-Lived Assets

In accordance with authoritative guidance on accounting for the impairment or disposal of long-lived assets, as set forth in Topic 360 of the Accounting Standards Codification (the “ASC”), the Company assesses the recoverability of the carrying value of its long-lived assets when events occur that indicate an impairment in value may exist. An impairment loss is indicated if the sum of the expected undiscounted future net cash flows is less than the carrying amount of the assets. If this occurs, an impairment loss is recognized for the amount by which the carrying amount of the assets exceeds the estimated fair value of the assets.

Other comperhensive loss

The Company has no material components of other comprehensive loss and accordingly, net loss is equal to comprehensive loss for the period.

Income Taxes

The Company uses the liability method of accounting for income taxes under which deferred tax assets and liabilities are recognized for the future tax consequences of temporary differences between the accounting bases and the tax bases of the Company’s assets and liabilities. The deferred tax assets are computed using enacted tax rates in effect for the year in which the temporary differences are expected to reverse.

The Company’s deferred income taxes include certain future tax benefits. The Company records a valuation allowance against any portion of those deferred income tax assets when it believes, based on the weight of available evidence, it is more likely than not that some portion or all of the deferred income tax asset will not be realized.

The Company has adopted ASC guidance regarding accounting for uncertainty in income taxes. This guidance clarifies the accounting for income taxes by prescribing the minimum recognition threshold an income tax position is required to meet before being recognized in the consolidated financial statements and applies to all income tax positions. Each income tax position is assessed using a two-step process. A determination is first made as to whether it is more likely than not that the income tax position will be sustained, based upon technical merits, upon examination by the taxing authorities. If the income tax position is expected to meet the more likely than not criteria, the benefit recorded in the consolidated financial statements equals the largest amount that is greater than 50% likely to be realized upon its ultimate settlement. At June 30, 2022 and December 31, 2021 there were no uncertain tax positions that required accrual.

Business Combination

The Company accounts for acquisitions in accordance with guidance found in ASC 805, Business Combinations. The guidance requires consideration given, including contingent consideration, assets acquired and liabilities assumed to be valued at their fair values at the date of acquisition. The guidance further provides that acquisition costs will generally be expenses as incurred and changes in deferred tax asset valuations and income tax uncertainties after the acquisition date generally will affect income tax expense.

ASC 805 requires that any excess of purchase price over the fair value of assets acquired, including identifiable intangibles and liabilities assumed be recognized as goodwill and any excess of fair value of acquired net assets, including identifiable intangible assets over the acquisition consideration results in a gain from bargain purchase. Prior to recording a gain, the acquiring entity must reassess whether assets acquired and assumed liabilities have been identified and recognized and perform re-measurements to verify that the consideration paid, assets acquired and liabilities assumed have been properly valued.

Goodwill

In accordance with generally accepted accounting principles, goodwill cannot be amortized, however, it must be tested annually for impairment. This impairment test is calculated at the reporting unit level. The goodwill impairment test has two steps. The first identifies potential impairments by comparing the fair value of a reporting unit with its book value, including goodwill. If the fair value of the reporting unit exceeds the carrying amount, goodwill is not impaired and the second step is not necessary. If the carrying value exceeds the fair value, the second step calculates the possible impairment loss by comparing the implied fair value of goodwill with the carrying amount. If the implied goodwill is less than the carrying amount, a write-down is recorded. Management tested goodwill at the date of acquisition for impairment to indicate if impairment occurred. See Note 3 – Fair Value Measurement.

Loss per share

Basic net loss per common share of stock is calculated by dividing net loss available to common stockholders by the weighted-average number of common shares outstanding during the period. Diluted net loss per common share is calculated by dividing net loss by the weighted-average number of common shares outstanding, including the effect of other dilutive securities. The Company’s had no potentially dilutive securities issued as of and during the six and twelve months ended June 30, 2022 and December 31, 2021.

Off-Balance Sheet Arrangements

As part of its ongoing business, the Company has not participated in transactions that generate relationships with unconsolidated entities or financial partnerships, such as entities often referred to as structured finance or special purpose entities (SPEs), which would have been established for the purpose of facilitating off-balance sheet arrangements or other contractually narrow or limited purposes. For the period through June 30, 2022, the Company has not been involved in any unconsolidated SPE transactions.

Subsequent Events

The Company evaluates events and transactions after the balance sheet date but before the consolidated financial statements are issued.

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Significant Acquisition (Tables)

6 Months Ended

Jun. 30, 2022

Significant Acquisition

Significant Acquisition

Consideration Given
Cash			$	1,000,000
Allocation of Consideration Given
Cash in bank	$	691,397
Inventory		25,000
Receivables - other		2,382
Intangible asset - Design, net		66,650
Goodwill		-
Other assets		2,000
Total assets			$	787,429
Current liabilities		124,375
Long-term liabilities		105,131
Total liabilities				229,506
Non-controlling interest fair value at time of acquisition of SLA LLC				(251,065	)
Net assets acquired			$	306,858

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Organization and History (Details Narrative) - USD ($)			1 Months Ended
	May 03, 2021	Mar. 15, 2021	May 31, 2021
Predecessor Period [Member]
Membership interest		55.00%
Silverlight Electric Vehicle Inc. [Member]
Membership interest			51.00%
Mr. Remy Breton [Member]
Membership interest			49.00%
Atelier de Motelage RB [Member]
Asset acquisition	$ 195,000

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Summary of Significant Accounting Policies (Details Narrative)	6 Months Ended
	Jun. 30, 2022
SLA LLC
Variable Interest Entity Ownership Percentage	55.00%
SLEV [Member]
Variable Interest Entity Ownership Percentage	51.00%

XML

Fair Value Measurements (Details Narrative) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Fair Value Measurements
Assets impairment charges	$ 0	$ 0

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Significant Acquisition (Details) - USD ($)	Jun. 30, 2022	Dec. 31, 2021	Mar. 15, 2021
Significant Acquisition (Details)
Cash			$ 1,000,000
Cash in bank			691,397
Inventory			25,000
Receivables - other			2,382
Intangible asset - Design, ne			66,650
Goodwill	$ 693,142	$ 693,142	0
Other assets			2,000
Total assets			787,429
Current liabilities			124,375
long term liability			105,131
Total liabilities			229,506
Non-controlling interest fair value at time of acquisition of SLA LLC			(251,065)
Net assets acquired			$ 306,858

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Significant Acquisition (Details Narrative) - USD ($)	May 03, 2021	Mar. 15, 2021
Predecessor Period [Member]
Membership interest		55.00%
Atelier de Motelage RB [Member]
Asset acquisition	$ 195,000

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Debt (Details Narrative) - USD ($)				1 Months Ended	6 Months Ended	12 Months Ended
	Mar. 02, 2021	Feb. 12, 2021	Jun. 13, 2020	Apr. 16, 2021	Jun. 30, 2022	Dec. 31, 2021
Owed to officer amount					$ 67,905
Loaned					15,000
Loaned					0	$ 82,155
Predecessor Period [Member]
Owed amount					1,000,000
Borrowing amount	$ 1,000,000
Debt Instrument, Redemption, Description	Company issuing an unsecured promissory note at the rate of three percent (3%) per annum with all unpaid and accrued principal and interest due in full on March 1, 2023.
Membership interest	55.00%
Principal and accrued interest					40,000
Officer Director And Shareholder
Loaned					299,008
Officer And Director
Owed amount					97,298,779
Loaned					14,489
Shareholder
Owed amount					$ 1,344,287
SLA LLC
Borrowing amount		$ 37,500	$ 29,000	$ 37,000
Debt Instrument, Redemption, Description		one percent (1%) per annum whereby the promissory note will be repaid over a period of sixty (60) months with the first payment due ten months after the date of the loan.	rate of 3.75% per annum whereby the promissory note will be repaid over a period of thirty (30) years beginning with the first payment due twenty-four months after the date of the loan in the amount of $142 per month.	one percent (1%) per annum whereby the promissory note will be repaid over a period of twenty-four (24) months with the first payment due twelve months after the date of the loan
Principal and accrued interest			$ 30,614			$ 37,830
Monthly payment			$ 142

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Stockholders Equity (Details Narrative) - $ / shares	1 Months Ended
	Sep. 29, 2014	Jun. 30, 2022	Dec. 31, 2021	Nov. 14, 2018
Preferred stock, shares authorized		20,000,000	20,000,000
Preferred stock, par value per share		$ 0.00001	$ 0.001
Common stock, shares authorized		2,500,000,000	2,500,000,000
Common stock, par value per share		$ 0.00001	$ 0.001
Common stock, shares issued		1,395,221,422	1,395,221,422
Common stock, shares outstanding		1,395,221,422	1,395,221,422
Series D Preferreds Stocks [Member]
Preferred stock, shares authorized	8,000,000
Dividend per share	$ 0.15
Series F Preferreds Stocks [Member]
Preferred stock, shares authorized				1,500,000
Preferred stock, par value per share				$ 0.001