Annual report pursuant to Section 13 and 15(d)

Fair Value of Financial Instruments (Tables)

v3.23.1
Fair Value of Financial Instruments (Tables)
 12 Months Ended
Dec. 31, 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 balances sheet as of December 31, 2022 and 2021:

 

    Level 1     Level 2     Level 3  
    Fair Value Measurements at December 31, 2022  
    Level 1     Level 2     Level 3  
Assets                        
Cash   $ 11,016     $ -     $ -  
Right-of-use asset     -       -       425,969  
Total assets     11,016       -       425,969  
Liabilities                        
Lease liabilities             -       427,915  
Convertible notes payable     -       750,000       -  
Notes payable     -       845,524       -  
Notes payable, related parties     -       299,500       -  
Total liabilities     -       (1,895,024 )     (427,915 )
Total assets and liabilities   $ 11,016     $ (1,895,024 )   $ (1,946 )

 

    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       -  
Notes payable     -       119,274       -  
Notes payable, related parties     -       200,000       -  
Total liabilities     -       (656,601 )     -  
Total assets and liabilities   $ 119,678     $ (656,601 )   $ -