Annual report pursuant to Section 13 and 15(d)

Fair Value of Financial Instruments (Tables)

v3.22.1
Fair Value of Financial Instruments (Tables)
12 Months Ended
Dec. 31, 2021
Investments, All Other Investments [Abstract]  
Schedule of Valuation of Financial Instruments at Fair Value on a Recurring Basis

The following schedule summarizes the valuation of financial instruments at fair value on a recurring basis in the balances sheet as of December 31, 2021 and 2020:

 

    Level 1     Level 2     Level 3  
    Fair Value Measurements at December 31, 2021  
    Level 1     Level 2     Level 3  
Assets                        
Cash   $ 119,678     $ -     $ -  
Total assets     119,678       -       -  
Liabilities                        
Convertible notes payable, net of $412,673 of debt discounts     -       337,327       -  
Convertible notes payable     -       319,274       -  
Total liabilities     -       (656,601 )     -  
Total assets and liabilities   $ 119,678     $ (656,601 )   $ -  

 

    Level 1     Level 2     Level 3  
    Fair Value Measurements at December 31, 2020  
    Level 1     Level 2     Level 3  
Assets                        
Cash   $ 28,920     $ -     $ -  
Right-of-use-asset     -       -       195,029  
Total assets     28,920       -       195,029  
Liabilities                        
Lease liabilities     -       -       201,525  
Notes payable     -       334,841       -  
Total liabilities     -       (334,841 )     (201,525 )
Total assets and liabilities   $ 28,920     $ (334,841 )   $ (6,496 )