General form of registration statement for all companies including face-amount certificate companies

Fair Value of Financial Instruments (Tables)

v3.23.4
Fair Value of Financial Instruments (Tables)
 9 Months Ended 12 Months Ended
Sep. 30, 2023
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 balance sheet as of September 30, 2023 and December 31, 2022, respectively:

 

    Level 1     Level 2     Level 3  
    Fair Value Measurements at September 30, 2023  
    Level 1     Level 2     Level 3  
Assets                        
Cash   $ 10,152     $ -     $    -  
Total assets     10,152       -       -  
Liabilities                        
Convertible note payable, related party     -       750,000       -  
Notes payable, related parties     -       1,061,500       -  
Notes payable , net of $53,442 of debt discounts at September 30, 2023     -       454,237       -  
Total liabilities     -       (2,265,737 )     -  
Total assets and liabilities   $ 10,152     $ (2,265,737 )   $ -  

 

    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     -       145,524       -  
Notes payable, related parties     -       999,500       -  
Total liabilities     -       (1,895,024 )     (427,915 )
Total assets and liabilities   $ 11,016     $ (1,895,024 )   $ (1,946 )

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 )   $ -