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Summary of Significant Accounting Policies (Tables)
9 Months Ended 12 Months Ended
Sep. 30, 2024
Dec. 31, 2023
Summary of Significant Accounting Policies    
Schedule of Impact on Consolidated Statement of Operations and Comprehensive Loss of restatement

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

September 30, 2023

 

 

September 30, 2023

 

 

 

As Filed

 

 

Adjustment

 

 

As Restated

 

 

As Filed

 

 

Adjustment

 

 

As Restated

 

Amortization and depreciation

 

$340

 

 

$61,812

 

 

$62,152

 

 

$871

 

 

$185,435

 

 

$186,306

 

Total operating expense

 

$9,156,070

 

 

$61,812

 

 

$9,217,882

 

 

$9,930,183

 

 

$185,435

 

 

$10,115,618

 

Loss from operations

 

$(9,021,243)

 

$(61,812)

 

$(9,083,055)

 

$(9,730,153)

 

$(185,435)

 

$(9,915,588)

Net loss

 

$(9,023,003)

 

$(61,812)

 

$(9,084,815)

 

$(9,732,672)

 

$(185,435)

 

$(9,918,107)
 
Schedule of Antidilutive Securities  

 

 

 December 31

 

 

 December 31

 

 

 

2023

 

 

2022

 

 

 

 Shares 

 

 

 Shares 

 

 Convertible notes 

 

 

300,000

 

 

 

194,444

 

 Convertible Series C Preferred Stock 

 

 

25,957,712

 

 

 

650,959

 

 Convertible Series A Preferred Stock(1) 

 

 

10,000,000,000 

 

 

 

 10,000,000,000

 

 

 

 

10,026,257,712

 

 

 

10,000,845,403

 

Schedule of Restated loss from operations or net loss  

 

 

December 31, 2023

 

 

December 31, 2022

 

 

 

As Filed

 

 

Adjustment

 

 

As Reclassified

 

 

As Filed

 

 

Adjustment

 

 

As Reclassified

 

Cost of revenue

 

$133,508

 

 

(133,508)

 

-

 

 

1,893

 

 

$

(1,893)

 

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating Expenses

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost of revenue (exclusive of amortization and depreciation shown separately below)

 

 

-

 

 

 

193,876

 

 

 

193,876

 

 

 

-

 

 

 

56,338

 

 

 

56,338

 

Amortization and depreciation

 

 

-

 

 

 

248,510

 

 

 

248,510

 

 

 

-

 

 

 

803

 

 

 

803

 

General and administration

 

 

584,434

 

 

 

(261,574)

 

 

322,860

 

 

 

281,970

 

 

 

(25,284)

 

 

256,686

 

Marketing

 

 

148,289

 

 

 

-

 

 

 

148,289

 

 

 

96,553

 

 

 

-

 

 

 

96,553

 

Management compensation

 

 

180,000

 

 

 

-

 

 

 

180,000

 

 

 

2,100,000

 

 

 

-

 

 

 

2,100,000

 

Professional fees- related party

 

 

8,640,000

 

 

 

259,596

 

 

 

8,899,596

 

 

 

-

 

 

 

188,036

 

 

 

188,036

 

Professional fees

 

 

932,352

 

 

 

(306,900)

 

 

625,452

 

 

 

500,875

 

 

 

(218,000)

 

 

282,875

 

Total operating expenses

 

$

10,485,075

 

 

133,508

 

 

10,618,583

 

 

2,979,398

 

 

1,893

 

 

2,981,291

 

Schedule of Consolidated Statement of Cash Flows of restatement

 

 

Nine Months

 

 

 

September 30, 2023

 

 

 

As Filed

 

 

Adjustment

 

 

As Restated

 

 

 

 

 

 

 

 

 

 

 

Cash Flows from Operating Activities:

 

 

 

 

 

 

 

 

 

Net loss

 

$(9,732,672)

 

$(185,435)

 

$(9,918,107)

Adjustments to reconcile net loss to net cash used in operating activities:

 

 

 

 

 

 

 

 

 

 

 

 

Depreciation and amortization

 

 

871

 

 

 

185,435

 

 

 

186,306

 

Net Cash used in Operating Activities

 

$(819,936)

 

$-

 

 

$(819,936)

 

 

Year Ended

 

 

 

December 31, 2022

 

 

 

 As Filed

 

 

 Adjustment

 

 

 As Reclassified

 

Cash Flows from Operating Activities:

 

 

 

 

 

 

 

 

 

Net loss

 

$(2,907,828)

 

$-

 

 

$(2,907,828)

Changes in operating assets and liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Digital currency

 

 

374

 

 

 

(47,350)

 

 

(46,976)

Related party advances funding operating expense

 

 

108,569

 

 

 

47,350

 

 

 

155,919

 

Net Cash used in Operating Activities

 

$(708,450)

 

$-

 

 

$(708,450)
Schedule of cost of revenue  

 

 

Years Ended

 

 

 

December 31,

 

 

 

 2023

 

 

2022

 

Cost of inventory

 

$101,978

 

 

$21,431

 

Freight and shipping

 

 

14,494

 

 

 

8,674

 

Consulting and advisory

 

 

30,100

 

 

 

21,569

 

Royalty and sales commission

 

 

47,304

 

 

 

4,664

 

 

 

$193,876

 

 

$56,338

 

Schedule of Reconciliation to Net Loss Per Common Share

 

 

 Three Months Ended

 

 

 Nine Months Ended

 

 

 

September 30,

 

 

September 30,

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

Net loss

 

$(655,238)

 

$(9,084,815)

 

$(5,082,352)

 

$(9,918,107)

Interest on convertible debts

 

 

20,879

 

 

 

276

 

 

 

21,014

 

 

 

1,035

 

Net loss - diluted

 

$(634,359)

 

$(9,084,539)

 

$(5,061,338)

 

$(9,917,072)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding

 

 

36,563,020

 

 

 

97,545,388

 

 

 

54,993,582

 

 

 

96,366,267

 

Effect of dilutive shares

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Convertible notes

 

 

2,101,413

 

 

 

300,000

 

 

 

705,584

 

 

 

300,000

 

Preferred stock

 

 

50,936,620

 

 

 

10,019,198,547

 

 

 

49,690,036

 

 

 

10,019,019,038

 

Common stock warrants

 

 

295,290

 

 

 

-

 

 

 

114,116

 

 

 

-

 

Diluted

 

 

89,896,343

 

 

 

10,117,043,935

 

 

 

105,503,318

 

 

 

10,115,685,305

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income per common share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$(0.02)

 

$(0.09)

 

$(0.09)

 

$(0.10)

Diluted

 

$(0.01)

 

$(0.00)

 

$(0.05)

 

$(0.00)

 

 

 Years Ended

 

 

 

 December 31,

 

 

 

2023

 

 

2022

 

Numerator:

 

 

 

 

 

 

Net Loss

 

$(9,855,019)

 

$(2,907,828)

Net Loss - diluted

 

$(9,855,019)

 

$(2,907,828)

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

Weighted average common shares outstanding

 

 

96,663,470

 

 

 

62,254,977

 

Effect of dilutive shares

 

 

 

 

 

 

 

 

Convertible notes

 

 

273,683

 

 

 

69,954

 

Preferred stock

 

 

10,025,957,712

 

 

 

10,013,019,178

 

Diluted

 

 

10,122,894,865

 

 

 

10,075,344,109

 

 

 

 

 

 

 

 

 

 

Net loss per common share:

 

 

 

 

 

 

 

 

Basic

 

$(0.10)

 

$(0.05)

Diluted

 

$(0.00)

 

$(0.00)
Schedule of Impact on Consolidated Statement of Stockholders' Equity of restatement

 

 

September 30, 2023

 

 

 

As Filed

 

 

Adjustment

 

 

As Restated

 

Stockholders' equity:

 

 

 

 

 

 

 

 

 

Accumulated deficit

 

$(69,114,072)

 

$(185,435)

 

$(69,299,507)

Total stockholders' equity

 

$3,504,906

 

 

$(185,435)

 

$3,319,471

 

 
Summary of Impact on Consolidated Statement of Operations and Comprehensive Loss (Restated)

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

September 30, 2023

 

 

September 30, 2023

 

 

 

As Filed and Restated (*)

 

 

Adjustment

 

 

As Reclassified

 

 

As Filed and Restated (*)

 

 

Adjustment

 

 

As Reclassified

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenue

 

$174,710

 

 

$-

 

 

$174,710

 

 

$258,660

 

 

$-

 

 

$258,660

 

Cost of revenue

 

 

39,883

 

 

 

(39,883)

 

 

-

 

 

 

58,630

 

 

 

(58,630)

 

 

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

134,827

 

 

 

39,883

 

 

 

174,710

 

 

 

200,030

 

 

 

58,630

 

 

 

258,660

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating expenses

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost of revenue (exclusive of amortization and depreciation shown separately below)

 

 

-

 

 

 

103,290

 

 

 

103,290

 

 

 

-

 

 

 

171,641

 

 

 

171,641

 

Amortization and depreciation

 

 

62,152

 

 

 

-

 

 

 

62,152

 

 

 

186,306

 

 

 

-

 

 

 

186,306

 

General and administration

 

 

146,222

 

 

 

(58,692)

 

 

87,530

 

 

 

360,157

 

 

 

(120,949)

 

 

239,208

 

Marketing

 

 

-

 

 

 

18,656

 

 

 

18,656

 

 

 

-

 

 

 

58,474

 

 

 

58,474

 

Management compensation

 

 

180,000

 

 

 

-

 

 

 

180,000

 

 

 

180,000

 

 

 

-

 

 

 

180,000

 

Stock-based professional fees - related party

 

 

8,640,000

 

 

 

(8,640,000)

 

 

-

 

 

 

8,640,000

 

 

 

(8,640,000)

 

 

-

 

Professional fees- related party

 

 

-

 

 

 

8,688,629

 

 

 

8,688,629

 

 

 

-

 

 

 

8,845,464

 

 

 

8,845,464

 

Professional fees

 

 

189,508

 

 

 

(72,000)

 

 

117,508

 

 

 

749,155

 

 

 

(256,000)

 

 

493,155

 

Total operating expenses

 

 

9,217,882

 

 

 

39,883

 

 

 

9,257,765

 

 

 

10,115,618

 

 

 

58,630

 

 

 

10,174,248

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loss from operations

 

$(9,083,055)

 

$-

 

 

$(9,083,055)

 

$(9,915,588)

 

$-

 

 

$(9,915,588)
 
Schedule of deferred offering costs

 

 

September 30

 

 

December 31

 

 

 

2024

 

 

2023

 

Legal fees

 

$52,131

 

 

$-

 

Accounting fees

 

 

5,000

 

 

 

-

 

Total

 

$57,131

 

 

$-

 

 
Schedule of cost of revenue

 

 

 Three Months Ended

 

 

 Nine Months Ended

 

 

 

 September 30,

 

 

 September 30,

 

 

 

 2024

 

 

 2023

 

 

 2024

 

 

 2023

 

Cost of inventory

 

$98,637

 

 

$79,919

 

 

$233,362

 

 

$110,680

 

Freight and shipping

 

 

1,171

 

 

 

-

 

 

 

9,321

 

 

 

10,425

 

Consulting and advisory - related party

 

 

5,800

 

 

 

5,900

 

 

 

16,200

 

 

 

26,700

 

Royalty and sales commission - related party

 

 

20,456

 

 

 

17,471

 

 

 

83,192

 

 

 

23,836

 

Total cost of revenue

 

$126,064

 

 

$103,290

 

 

$342,075

 

 

$171,641

 

 
Schedule of antidilutive securities excluded from the computation of eps

 

 

September 30,

 

 

September 30,

 

 

 

2024

 

 

2023

 

 

 

 Shares 

 

 

 Shares 

 

Convertible notes 

 

 

2,802,500

 

 

 

300,000

 

Convertible Series C Preferred Stock 

 

 

49,690,036

 

 

 

19,021,061

 

Common stock warrants

 

 

1,401,250

 

 

 

-

 

Convertible Series A Preferred Stock(1) 

 

 

-

 

 

 

10,000,000,000

 

 

 

 

53,893,786

 

 

 

10,019,321,061