Quarterly report pursuant to Section 13 or 15(d)

Fair Value of Financial Instruments (Tables)

v3.22.2.2
Fair Value of Financial Instruments (Tables)
6 Months Ended
Jun. 30, 2022
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 balance sheet as of June 30, 2022 and December 31, 2021, respectively:

 

    Level 1     Level 2     Level 3  
    Fair Value Measurements at June 30, 2022  
    Level 1     Level 2     Level 3  
Assets                  
Cash   $ 54,797     $ -     $ -  
Right-of-use asset     -       -       1,483,218  
Total assets     54,797       -       1,483,218  
Liabilities                        
Lease liabilities     -       -       1,496,981  
Convertible notes payable, net of $125,389 of debt discounts     -       624,611       -  
Notes payable     -       852,636       -  
Notes payable, related parties     -       240,000       -  
Total liabilities     -       (1,717,247 )     (1,496,981 )
Total assets and liabilities   $ 54,797     $ (1,717,247 )   $ (13,763 )

 

    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 )   $ -