v3.20.1
Summary of Significant Accounting Policies and Organization (Tables)
|
3 Months Ended |
12 Months Ended |
|
|
| Organization, Consolidation and Presentation of Financial Statements [Abstract] |
|
|
| Schedule of Antidilutive Securities of Earnings Per Share |
The computation of basic and diluted loss per
share for March 31, 2020 and March 31, 2019 excludes the common stock equivalents of the following potentially dilutive securities
because their inclusion would be anti-dilutive:
| |
|
March 31, 2020 |
|
|
March 31, 2019 |
|
| Stock Warrants (Exercise price - $0.001/share) |
|
|
55,995,917 |
|
|
|
58,595,917 |
|
| Stock Options (Exercise price - $0.1150/Share) |
|
|
27,340,000 |
|
|
|
- |
|
| Convertible Preferred Stock |
|
|
2 |
|
|
|
2 |
|
| Total |
|
|
83,335,919 |
|
|
|
58,595,919 |
|
|
The computation of basic and diluted loss per
share for December 31, 2019 and December 31, 2018 excludes the common stock equivalents of the following potentially dilutive securities
because their inclusion would be anti-dilutive:
| |
|
December 31, 2019 |
|
|
December 31, 2018 |
|
| Stock Warrants (Exercise price - $0.001-$0.2299/share) |
|
|
55,995,917 |
|
|
|
36,400,000 |
|
| Convertible Preferred Stock |
|
|
2 |
|
|
|
2 |
|
| Total |
|
|
55,995,919 |
|
|
|
36,400,002 |
|
|
| Schedule of Deferred Tax Assets and Liabilities |
|
The net deferred tax liability in the accompanying
balance sheets includes the following amounts of deferred tax assets and liabilities:
| |
|
2019 |
|
|
2018 |
|
| Expected income tax recovery (expense) at the statutory rate of 21% |
|
$ |
(610,845 |
) |
|
$ |
(1,412,328 |
) |
| Tax effect of expenses that are not deductible for income tax purposes (net of other amounts deductible for tax purposes) |
|
|
142,167 |
|
|
|
11,057 |
|
| Change in valuation allowance |
|
|
(468,678 |
) |
|
|
(1,423,384 |
) |
| |
|
|
|
|
|
|
|
|
| Provision for income taxes |
|
$ |
- |
|
|
$ |
- |
|
|
| Schedule of Components of Deferred Income Taxes |
|
The components of deferred income taxes are
as follows:
| |
|
Years Ended December, |
|
| |
|
2019 |
|
|
2018 |
|
| Deferred tax liability: |
|
$ |
- |
|
|
$ |
- |
|
| Deferred tax asset |
|
|
|
|
|
|
|
|
| Net Operating Loss Carryforward |
|
|
3,379,542 |
|
|
|
2,910,863 |
|
| Valuation allowance |
|
|
(3,379,542 |
) |
|
|
(2,910,863 |
) |
| Net deferred tax asset |
|
|
- |
|
|
|
- |
|
| Net deferred tax liability |
|
$ |
- |
|
|
$ |
- |
|
|
| Schedule of Fair Value of Financial Instruments |
|
|
| Schedule of Concentration of Credit Risk |
|
For the years ended December 31, 2019 and 2018,
the Company had a concentration of sales of:
|
| X |
- DefinitionTabular disclosure of all significant concentrations of risk, including credit risk and market risk, arising from all financial instruments (as defined), whether from an individual counterparty or groups of counterparties. The disclosure concerning concentrations of risk may consist of the following information: (1) for concentrations of credit risk disclosure may include: (a) information about the (shared) activity, region, or economic characteristic that identifies the concentration, (b) the maximum amount of loss due to credit risk that, based on the gross fair value of the financial instrument, the entity would incur if parties to the financial instruments that make up the concentration failed completely to perform according to the terms of the contracts and the collateral or other security, if any, for the amount due proved to be of no value to the entity, (c) the policy of requiring collateral or other security to support financial instruments subject to credit risk, information about the entity's access to that collateral or other security, and the nature and a brief description of the collateral or other security supporting those financial instruments, and (d) the policy of entering into master netting arrangements to mitigate the credit risk of financial instruments, information about the arrangements for which the entity is a party, and a brief description of the terms of those arrangements, including the extent to which they would reduce the entity's maximum amount of loss due to credit risk and (2) for disclosure of quantitative information about the market risks of financial instruments that is consistent with the way the company manages or adjusts those risks, disclosure may include: (a) more details about current positions and perhaps activity during the period, (b) the hypothetical effects on comprehensive income (or net assets), or annual income, of several possible changes in market prices, (c) a gap analysis of interest rate re-pricing or maturity dates, (d) the duration of the financial instruments, (e) the entity's value at risk from derivatives and from other positions at the end of the reporting period and the average value at risk during the year, or (f) other ways of reporting quantitative information as internally developed.
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| X |
- DefinitionTabular disclosure of liabilities measured at fair value measured on a recurring or nonrecurring basis. Includes, but is not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2.
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| X |
- References
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| X |
- DefinitionTabular disclosure of securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) in the future that were not included in the computation of diluted EPS because to do so would increase EPS amounts or decrease loss per share amounts for the period presented, by antidilutive securities.
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| X |
- DefinitionTabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.
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| X |
- DefinitionTabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.
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