Quarterly report pursuant to Section 13 or 15(d)

Fair Value of Financial Instruments (Tables)

v3.23.2
Fair Value of Financial Instruments (Tables)
 3 Months Ended
Mar. 31, 2023
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 March 31, 2023 and December 31, 2022, respectively:

 

    Level 1     Level 2     Level 3  
    Fair Value Measurements at March 31, 2023  
    Level 1     Level 2     Level 3  
Assets                        
Cash   $ 84,709     $ -     $ -  
Right-of-use asset     -       -       403,727  
Total assets     84,709       -       403,727  
Liabilities                        
Lease liabilities     -       -       407,168  
Convertible notes payable     -       750,000       -  
Notes payable     -       851,277       -  
Notes payable, related parties     -       299,500       -  
Total liabilities     -       (1,900,777 )     (407,168 )
Total assets and liabilities   $ 84,709     $ (1,900,777 )   $ (3,441 )

 

    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 )