SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

3 Months Ended

Mar. 31, 2022

Accounting Policies [Abstract]

SCHEDULE OF EXCHANGE RATES

The following rates were used to translate our Euro bank account into USD at the following balance sheet dates.

	March 31, 2022		December 31, 2021
Euro to USD		1.1074		1.1371

The following rates were used to translate the accounts of Kuvera France S.A.S. into USD for the following operating periods.

	Three Months Ended March 31,
	2022		2021
Euro to USD		1.1219		1.2052

SCHEDULE OF RECONCILIATION OF CASH, CASH EQUIVALENTS, AND RESTRICTED CASH

The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the balance sheet that sum to the total of the same such amounts shown in the statement of cash flows.

	March 31, 2022		December 31, 2021
Cash and cash equivalents	$	24,866,231	$	30,995,283
Restricted cash, current		819,338		819,338
Restricted cash, long term		597,451		802,285
Total cash, cash equivalents, and restricted cash shown on the statement of cash flows	$	26,283,020	$	32,616,906

SCHEDULE OF FIXED ASSETS

Fixed assets were made up of the following at each balance sheet date:

	Estimated Useful Life (years)	March 31, 2022			December 31, 2021
Furniture, fixtures, and equipment	10	$	82,942		$	82,942
Computer equipment	3		15,241			15,241
Leasehold improvements	Remaining Lease Term		40,528			40,528
Data processing equipment	3		16,506,939			10,638,619
Construction in progress	N/A		529,806			391,583
			17,175,456			11,168,913
Accumulated depreciation			(5,390,329	)		(4,486,036	)
Net book value		$	11,785,127		$	6,682,877

SCHEDULE OF FAIR VALUE ASSETS AND LIABILITIES MEASURED ON RECURRING BASIS

Items recorded or measured at fair value on a recurring basis in the accompanying consolidated financial statements consisted of the following items as of March 31, 2022:

	Level 1		Level 2		Level 3		Total
Total Assets	$	-	$	-	$	-	$	-
Derivative liability	$	-	$	-	$	93,214	$	93,214
Total Liabilities	$	-	$	-	$	93,214	$	93,214

Items recorded or measured at fair value on a recurring basis in the accompanying consolidated financial statements consisted of the following items as of December 31, 2021:

	Level 1		Level 2		Level 3		Total
Total Assets	$	-	$	-	$	-	$	-
Derivative liability	$	-	$	-	$	69,371	$	69,371
Total Liabilities	$	-	$	-	$	69,371	$	69,371

SCHEDULE OF REVENUE GENERATED

Revenue generated for the three months ended March 31, 2022 is as follows:

		Subscription Revenue			Cryptocurrency Revenue			Mining Revenue		Fee Revenue		Total
Gross billings/receipts	$	14,693,972		$	838,422		$	3,576,973	$	-	$	19,109,367
Refunds, incentives, credits, and chargebacks		(963,302	)		-			-		-		(963,302	)
Amounts paid to providers		-			(398,006	)		-		-		(398,006	)
Net revenue	$	13,730,670		$	440,416		$	3,576,973	$	-	$	17,748,059

 

		Subscription Revenue			Cryptocurrency Revenue			Mining Revenue		Fee Revenue		Total
Gross billings/receipts	$	8,407,522		$	1,877,186		$	8,337,359	$	2,032	$	18,624,099
Refunds, incentives, credits, and chargebacks		(457,805	)		-			-		-		(457,805	)
Amounts paid to providers		-			(1,112,324	)		-		-		(1,112,324	)
Net revenue	$	7,949,717		$	764,862		$	8,337,359	$	2,032	$	17,053,970

 

SCHEDULE OF DILUTED EARNINGS PER SHARE

	March 31, 2022			March 31, 2021
Net income (loss)	$	2,379,029		$	4,941,561
Less: preferred dividends		(204,835	)		(124,506	)
Add: interest expense on convertible debt		244,755			226,140
Net income available to common shareholders for dilution purposes	$	2,418,949		$	5,043,195
Basic weighted average number of common shares outstanding		2,723,982,285			3,237,481,329
Dilutive impact of warrants		-			128,532
Dilutive impact of convertible notes		471,428,571			473,177,294
Dilutive impact of non-voting membership interest		565,000,000			-
Diluted weighted average number of common shares outstanding (denominator)		3,760,410,856			3,710,787,154
Diluted income per common share	$	0.00		$	0.00

SCHEDULE OF INVENTORY CURRENT TABLE

Inventory was made up of the following at each balance sheet date:

	March 31, 2022		December 31, 2021
Raw materials	$	55,570	$	-
Finished goods		-		-
	$	55,570	$	-