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Consolidated Balance Sheets - USD ($)
Dec. 31, 2021
Dec. 31, 2020
Current assets:    
Cash $ 82,091 $ 88,711
Total current assets 82,091 88,711
Land (Note 3) 5,476,097 5,476,097
Other assets 80 80
Total assets 5,558,268 5,564,888
Current liabilities:    
Accounts payable and accrued expenses due related parties (Note 4) 6,585,289 5,729,129
Accounts payable and accrued expenses - others (Note 4) 4,132,371 3,833,680
Convertible notes and line of credit payable (Note 5) 1,962,500 1,962,500
Debenture payable (Note 6) 50,000 50,000
Convertible debenture payable (Note 6) 1,800,000 1,800,000
Short term notes and interest bearing advance (Note 7) 80,504 80,504
Notes payable due related parties (net of unamortized debt discount of $13,583 and $0, respectively) (Note 8) 722,172 636,605
Notes payable due others (net of unamortized debt discount of $55,017 and $46,135, respectively) (Note 9) 372,483 130,115
Stock issuance liability 26,250
Total liabilities 15,705,319 14,248,783
Commitments and contingencies (Notes 3 and 14)
Stockholders’ deficit:    
Preferred stock, $0.01 par value; shares authorized 5,000,000, outstanding 2,086,000 at December 31, 2021 and 2020 (aggregate liquidation preference of $2,519,080 at December 31, 2021 and 2020) 20,860 20,860
Common stock, $0.001 par value; shares authorized 50,000,000, issued: 39,052,472 at December 31, 2021 and 2020 outstanding: 36,297,576 at December 31, 2021 and 2020 39,052 39,052
Additional paid-in capital 36,100,973 36,042,139
Unearned ESOP shares (2,727,866) (2,846,468)
Accumulated deficit (43,394,070) (41,773,364)
Treasury stock, at cost, 925,341 and 845,796 shares at December 31, 2021 and 2020 (186,000) (166,114)
Total stockholders’ deficit (10,147,051) (8,683,895)
Total liabilities and stockholders’ deficit $ 5,558,268 $ 5,564,888