RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS

12 Months Ended

Dec. 31, 2022

Accounting Changes and Error Corrections [Abstract]

RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS

NOTE 2 – RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS

In the course of preparing our financial statements for 2022 and 2021, we identified following misstatements that required restatement of our previously issued 2021 and 2022 financial statements as follows:

The Company determined that the cash flows statement were not prepared in accordance with ASC 230-10-50-3. As a result, the Company restated the cash flows accordingly to show only cash movements and non-cash transactions are properly disclosed in a narrative format at the bottom of the cash flows.

	As Previously Reported			Adjustments			As Restated			As Previously Reported			Adjustments			As Restated
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$	(487,158	)	$	-		$	(487,158	)	$	(214,879	)	$	-		$	(214,879	)
Adjustments to reconcile net loss to net cash used in operating activities:
Amortization		1,677,410			-			1,677,410			714,589			-			714,589
Shares issued for services		-			-			-			-			70,473			70,473
Changes in operating assets and liabilities:
Accounts Receivable		(489,910	)		-			(489,910	)		-			-			-
Accounts Payable		(178,281	)		58,911			(119,370	)		248,900			-			248,900
Other Current Assets		-			(121,460	)		(121,460	)		-			-			-
Other Current Liabilities		-			62,549			62,549			-			-			-
Total Adjustments to reconcile Net Income to Net Cash provided by operations:		1,009,219			-			1,009,219			963,489			70,473			1,033,962
Net Cash Used in Operating Activities		522,061			-			522,061			748,610			70,473			819,083
CASH FLOWS FROM INVESTING ACTIVITIES:
Long Term Investments		1,976,479			(2,000,000	)		(23,521	)		(6,646,870	)		6,646,870			-
Purchase of Intangible Assets		(6,371,017	)		2,916,017			(3,455,000	)		(3,847,200	)		2,910,000			(937,200	)
Cash proceed for sale of investments		-			2,000,000			2,000,000			-			-			-
Property & Equipment		-			-			-			-			-			-
Deposits		-			-			-			-			-			-
Security Deposits Asset		-			-			-			-			-			-
Net Cash Used in Investing Activities		(4,394,538	)		2,916,017			(1,478,521	)		(10,494,070	)		9,556,870			(937,200	)
CASH FLOWS FROM FINANCING ACTIVITIES:
Co-Investment		3,046,017			(3,046,017	)		-			-			-			-
Preferred stock		2,234			(2,234	)		-			(192	)		192			-
Proceed from sale of Stock		(53,889	)		420,324			366,435			70,664			(70,664	)		-
Contribution by owners		418,091			(418,091	)		-			10,156,871			(9,556,871	)		600,000
Dividends Paid		-			-			-			-			-			-
Proceed from note payable		-			130,000			130,000			-			-			-
Net Cash Provided by Financing Activities		3,412,453			(2,916,018	)		496,435			10,227,343			(9,627,343	)		600,000
NET INCREASE IN CASH		(460,024	)		-			(460,024	)		481,883			-			481,883
CASH AT BEGINNING OF YEAR		484,183			-			484,183			2,300			-			2,300
CASH AT END OF YEAR	$	24,159		$	-		$	24,159		$	484,183		$	-		$	484,183
Non- cash investing and financing activities:
Intangible assets contributed by related party		-			-			-			-			2,910,000			2,910,000
Long Term Investments contributed by related party		-			-			-			-			6,646,870			6,646,870
Purchase of Intangible Assets on accounts		-			2,916,017			2,916,017			-			-			-