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Edge Data Solutions, Inc. – ‘10-Q’ for 6/30/22 – ‘XML’

On: Friday, 8/12/22, at 5:22pm ET · For: 6/30/22 · Accession #: 1493152-22-22427 · File #: 0-56419

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 8/12/22  Edge Data Solutions, Inc.         10-Q        6/30/22   53:3.9M                                   M2 Compliance LLC/FA

Quarterly Report — Form 10-Q

Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-Q        Quarterly Report                                    HTML    690K 
 2: EX-31.1     Certification -- §302 - SOA'02                      HTML     20K 
 3: EX-31.2     Certification -- §302 - SOA'02                      HTML     20K 
 4: EX-32.1     Certification -- §906 - SOA'02                      HTML     16K 
 5: EX-32.2     Certification -- §906 - SOA'02                      HTML     17K 
11: R1          Cover                                               HTML     67K 
12: R2          Balance Sheets (Unaudited)                          HTML    145K 
13: R3          Balance Sheets (Unaudited) (Parenthetical)          HTML     39K 
14: R4          Statements of Operations (Unaudited)                HTML    106K 
15: R5          Statements of Cash Flows (Unaudited)                HTML    104K 
16: R6          Statement of Stockholders' Deficiency (Unaudited)   HTML     64K 
17: R7          Organization and Nature of Operations               HTML     21K 
18: R8          Summary of Significant Accounting Policies          HTML     91K 
19: R9          Going Concern                                       HTML     21K 
20: R10         Stockholders? Equity/(Deficiency)                   HTML     76K 
21: R11         Related Party Transactions                          HTML     29K 
22: R12         Convertible Notes                                   HTML     30K 
23: R13         Concentrations, Commitments and Contingencies       HTML     29K 
24: R14         Finance Lease                                       HTML     34K 
25: R15         Significant Agreements                              HTML     28K 
26: R16         Construction in Progress - Data Centers             HTML     22K 
27: R17         Recent Accounting Pronouncements                    HTML     29K 
28: R18         Subsequent Events                                   HTML     22K 
29: R19         Summary of Significant Accounting Policies          HTML    136K 
                (Policies)                                                       
30: R20         Summary of Significant Accounting Policies          HTML     34K 
                (Tables)                                                         
31: R21         Stockholders? Equity/(Deficiency) (Tables)          HTML     43K 
32: R22         Finance Lease (Tables)                              HTML     28K 
33: R23         Schedule of Accrued Liabilities (Details)           HTML     33K 
34: R24         Schedule of Net Income (Loss) Per Share (Details)   HTML     31K 
35: R25         Summary of Significant Accounting Policies          HTML     66K 
                (Details Narrative)                                              
36: R26         Going Concern (Details Narrative)                   HTML     22K 
37: R27         Schedule of Warrants Activity (Details)             HTML     31K 
38: R28         Schedule of Options Activity (Details)              HTML     39K 
39: R29         Stockholders? Equity/(Deficiency) (Details          HTML    121K 
                Narrative)                                                       
40: R30         Related Party Transactions (Details Narrative)      HTML     40K 
41: R31         Convertible Notes (Details Narrative)               HTML     48K 
42: R32         Concentrations, Commitments and Contingencies       HTML     33K 
                (Details Narrative)                                              
43: R33         Schedule of Lease Related Assets and Liabilities    HTML     30K 
                (Details)                                                        
44: R34         Schedule of Maturities of Lease Liability           HTML     22K 
                (Details)                                                        
45: R35         Finance Lease (Details Narrative)                   HTML     50K 
46: R36         Significant Agreements (Details Narrative)          HTML     47K 
47: R37         Construction in Progress - Data Centers (Details    HTML     25K 
                Narrative)                                                       
48: R38         Subsequent Events (Details Narrative)               HTML     32K 
51: XML         IDEA XML File -- Filing Summary                      XML     88K 
49: XML         XBRL Instance -- form10-q_htm                        XML    814K 
50: EXCEL       IDEA Workbook of Financial Reports                  XLSX     91K 
 7: EX-101.CAL  Inline XBRL Taxonomy Extension Calculation           XML    148K 
                Linkbase Document -- edgs-20220630_cal                           
 8: EX-101.DEF  Inline XBRL Taxonomy Extension Definition Linkbase   XML    406K 
                Document -- edgs-20220630_def                                    
 9: EX-101.LAB  Inline XBRL Taxonomy Extension Label Linkbase        XML    799K 
                Document -- edgs-20220630_lab                                    
10: EX-101.PRE  Inline XBRL Taxonomy Extension Presentation          XML    577K 
                Linkbase Document -- edgs-20220630_pre                           
 6: EX-101.SCH  Inline XBRL Taxonomy Extension Schema Document --    XSD    108K 
                edgs-20220630                                                    
52: JSON        XBRL Instance as JSON Data -- MetaLinks              288±   405K 
53: ZIP         XBRL Zipped Folder -- 0001493152-22-022427-xbrl      Zip    176K

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<us-gaap:LaborAndRelatedExpense contextRef="From2021-01-012021-06-30" decimals="0" unitRef="USD"> 117500 </us-gaap:LaborAndRelatedExpense>

<us-gaap:AllocatedShareBasedCompensationExpense contextRef="From2022-04-012022-06-30" decimals="0" unitRef="USD"> 41052 </us-gaap:AllocatedShareBasedCompensationExpense>

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<us-gaap:AllocatedShareBasedCompensationExpense contextRef="From2021-01-012021-06-30" decimals="0" unitRef="USD"> 19000 </us-gaap:AllocatedShareBasedCompensationExpense>

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<us-gaap:DepreciationNonproduction contextRef="From2021-04-012021-06-30" decimals="0" unitRef="USD"> 7088 </us-gaap:DepreciationNonproduction>

<us-gaap:DepreciationNonproduction contextRef="From2022-01-01to2022-06-30" decimals="0" unitRef="USD"> 15012 </us-gaap:DepreciationNonproduction>

<us-gaap:DepreciationNonproduction contextRef="From2021-01-012021-06-30" decimals="0" unitRef="USD"> 14066 </us-gaap:DepreciationNonproduction>

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<us-gaap:OperatingExpenses contextRef="From2021-04-012021-06-30" decimals="0" unitRef="USD"> 178413 </us-gaap:OperatingExpenses>

<us-gaap:OperatingExpenses contextRef="From2022-01-01to2022-06-30" decimals="0" unitRef="USD"> 1741301 </us-gaap:OperatingExpenses>

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<us-gaap:OperatingIncomeLoss contextRef="From2022-01-01to2022-06-30" decimals="0" unitRef="USD"> 1068601 </us-gaap:OperatingIncomeLoss>

<us-gaap:OperatingIncomeLoss contextRef="From2021-01-012021-06-30" decimals="0" unitRef="USD"> -162898 </us-gaap:OperatingIncomeLoss>

<us-gaap:InterestExpense contextRef="From2022-04-012022-06-30" decimals="0" unitRef="USD"> 4128 </us-gaap:InterestExpense>

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<us-gaap:InterestExpense contextRef="From2022-01-01to2022-06-30" decimals="0" unitRef="USD"> 25073 </us-gaap:InterestExpense>

<us-gaap:InterestExpense contextRef="From2021-01-012021-06-30" decimals="0" unitRef="USD"> 50345 </us-gaap:InterestExpense>

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<us-gaap:WeightedAverageNumberOfSharesOutstandingBasic contextRef="From2021-01-012021-06-30" decimals="INF" unitRef="Shares"> 8407267 </us-gaap:WeightedAverageNumberOfSharesOutstandingBasic>

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<us-gaap:NetIncomeLoss contextRef="From2021-01-012021-06-30" decimals="0" unitRef="USD"> -202698 </us-gaap:NetIncomeLoss>

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<us-gaap:ShareBasedCompensation contextRef="From2022-01-01to2022-06-30" decimals="0" unitRef="USD"> 41052 </us-gaap:ShareBasedCompensation>

<us-gaap:ShareBasedCompensation contextRef="From2021-01-012021-06-30" decimals="0" unitRef="USD"> 19000 </us-gaap:ShareBasedCompensation>

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<us-gaap:IncreaseDecreaseInAccountsReceivable contextRef="From2022-01-01to2022-06-30" decimals="0" unitRef="USD"> 12742 </us-gaap:IncreaseDecreaseInAccountsReceivable>

<us-gaap:IncreaseDecreaseInAccountsReceivable contextRef="From2021-01-012021-06-30" decimals="0" unitRef="USD"> -162 </us-gaap:IncreaseDecreaseInAccountsReceivable>

<us-gaap:IncreaseDecreaseInDepositOtherAssets contextRef="From2022-01-01to2022-06-30" decimals="0" unitRef="USD"> -2010354 </us-gaap:IncreaseDecreaseInDepositOtherAssets>

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<EDGS:IncreaseDecreaseInChangeInCryptoAssetsHeld contextRef="From2021-01-012021-06-30" decimals="0" unitRef="USD"> -200 </EDGS:IncreaseDecreaseInChangeInCryptoAssetsHeld>

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<us-gaap:IncreaseDecreaseInOtherOperatingCapitalNet contextRef="From2022-01-01to2022-06-30" decimals="0" unitRef="USD"> -4185 </us-gaap:IncreaseDecreaseInOtherOperatingCapitalNet>

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<us-gaap:IncreaseDecreaseInPrepaidExpense contextRef="From2021-01-012021-06-30" decimals="0" unitRef="USD"> -2579 </us-gaap:IncreaseDecreaseInPrepaidExpense>

<us-gaap:IncreaseDecreaseInAccountsPayable contextRef="From2022-01-01to2022-06-30" decimals="0" unitRef="USD"> 306723 </us-gaap:IncreaseDecreaseInAccountsPayable>

<us-gaap:IncreaseDecreaseInAccountsPayable contextRef="From2021-01-012021-06-30" decimals="0" unitRef="USD"> 48325 </us-gaap:IncreaseDecreaseInAccountsPayable>

<us-gaap:IncreaseDecreaseInEmployeeRelatedLiabilities contextRef="From2021-01-012021-06-30" decimals="0" unitRef="USD"> -35000 </us-gaap:IncreaseDecreaseInEmployeeRelatedLiabilities>

<us-gaap:IncreaseDecreaseInAccruedLiabilities contextRef="From2022-01-01to2022-06-30" decimals="0" unitRef="USD"> -174818 </us-gaap:IncreaseDecreaseInAccruedLiabilities>

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<us-gaap:IncreaseDecreaseInDeferredRevenue contextRef="From2021-01-012021-06-30" decimals="0" unitRef="USD"> 5943 </us-gaap:IncreaseDecreaseInDeferredRevenue>

<us-gaap:IncreaseDecreaseInInterestPayableNet contextRef="From2022-01-01to2022-06-30" decimals="0" unitRef="USD"> 89160 </us-gaap:IncreaseDecreaseInInterestPayableNet>

<us-gaap:NetCashProvidedByUsedInOperatingActivities contextRef="From2022-01-01to2022-06-30" decimals="0" unitRef="USD"> 331851 </us-gaap:NetCashProvidedByUsedInOperatingActivities>

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<us-gaap:PaymentsToAcquirePropertyPlantAndEquipment contextRef="From2022-01-01to2022-06-30" decimals="0" unitRef="USD"> 17477 </us-gaap:PaymentsToAcquirePropertyPlantAndEquipment>

<us-gaap:PaymentsToAcquirePropertyPlantAndEquipment contextRef="From2021-01-012021-06-30" decimals="0" unitRef="USD"> 1152 </us-gaap:PaymentsToAcquirePropertyPlantAndEquipment>

<EDGS:PaymentsToWebDevelopment contextRef="From2022-01-01to2022-06-30" decimals="0" unitRef="USD"> 40000 </EDGS:PaymentsToWebDevelopment>

<EDGS:PaymentsForConstructionInProgress contextRef="From2022-01-01to2022-06-30" decimals="0" unitRef="USD"> 127142 </EDGS:PaymentsForConstructionInProgress>

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<us-gaap:NetCashProvidedByUsedInInvestingActivities contextRef="From2021-01-012021-06-30" decimals="0" unitRef="USD"> -1152 </us-gaap:NetCashProvidedByUsedInInvestingActivities>

<us-gaap:RepaymentsOfConvertibleDebt contextRef="From2022-01-01to2022-06-30" decimals="0" unitRef="USD"> 100000 </us-gaap:RepaymentsOfConvertibleDebt>

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<us-gaap:ProceedsFromRelatedPartyDebt contextRef="From2021-01-012021-06-30" decimals="0" unitRef="USD"> 38957 </us-gaap:ProceedsFromRelatedPartyDebt>

<us-gaap:RepaymentsOfRelatedPartyDebt contextRef="From2022-01-01to2022-06-30" decimals="0" unitRef="USD"> 112162 </us-gaap:RepaymentsOfRelatedPartyDebt>

<us-gaap:RepaymentsOfRelatedPartyDebt contextRef="From2021-01-012021-06-30" decimals="0" unitRef="USD"> 90364 </us-gaap:RepaymentsOfRelatedPartyDebt>

<us-gaap:FinanceLeasePrincipalPayments contextRef="From2022-01-01to2022-06-30" decimals="0" unitRef="USD"> 7752 </us-gaap:FinanceLeasePrincipalPayments>

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<us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations contextRef="AsOf2021-12-31" decimals="0" unitRef="USD"> 831209 </us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations>

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<us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations contextRef="AsOf2022-06-30" decimals="0" unitRef="USD"> 858721 </us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations>

<us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations contextRef="AsOf2021-06-30" decimals="0" unitRef="USD"> 20521 </us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations>

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<us-gaap:SharesOutstanding contextRef="AsOf2021-03-31_us-gaap_CommonStockMember" decimals="INF" unitRef="Shares"> 8421079 </us-gaap:SharesOutstanding>

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<us-gaap:SharesOutstanding contextRef="AsOf2021-03-31_us-gaap_PreferredStockMember_us-gaap_PreferredClassAMember" decimals="INF" unitRef="Shares"> 7000000 </us-gaap:SharesOutstanding>

<us-gaap:StockholdersEquity contextRef="AsOf2021-03-31_us-gaap_PreferredStockMember_us-gaap_PreferredClassAMember" decimals="0" unitRef="USD"> 7000 </us-gaap:StockholdersEquity>

<us-gaap:SharesOutstanding contextRef="AsOf2021-03-31_us-gaap_PreferredStockMember_custom_ClassCConvertiblePreferredStockMember" decimals="INF" unitRef="Shares"> 7000000 </us-gaap:SharesOutstanding>

<us-gaap:StockholdersEquity contextRef="AsOf2021-03-31_us-gaap_PreferredStockMember_custom_ClassCConvertiblePreferredStockMember" decimals="0" unitRef="USD"> 7000 </us-gaap:StockholdersEquity>

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<us-gaap:NetIncomeLoss contextRef="From2021-04-012021-06-30" decimals="0" unitRef="USD"> -79827 </us-gaap:NetIncomeLoss>

<us-gaap:SharesOutstanding contextRef="AsOf2021-06-30_us-gaap_CommonStockMember" decimals="INF" unitRef="Shares"> 8421079 </us-gaap:SharesOutstanding>

<us-gaap:StockholdersEquity contextRef="AsOf2021-06-30_us-gaap_CommonStockMember" decimals="0" unitRef="USD"> 842 </us-gaap:StockholdersEquity>

<us-gaap:SharesOutstanding contextRef="AsOf2021-03-31_us-gaap_PreferredStockMember_us-gaap_PreferredClassAMember" decimals="INF" unitRef="Shares"> 7000000 </us-gaap:SharesOutstanding>

<us-gaap:StockholdersEquity contextRef="AsOf2021-06-30_us-gaap_PreferredStockMember_us-gaap_PreferredClassAMember" decimals="0" unitRef="USD"> 7000 </us-gaap:StockholdersEquity>

<us-gaap:StockholdersEquity contextRef="AsOf2021-06-30_us-gaap_PreferredStockMember_custom_ClassCConvertiblePreferredStockMember" decimals="0" unitRef="USD"> 7000 </us-gaap:StockholdersEquity>

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<us-gaap:SharesOutstanding contextRef="AsOf2020-12-31_us-gaap_CommonStockMember" decimals="INF" unitRef="Shares"> 8321079 </us-gaap:SharesOutstanding>

<us-gaap:StockholdersEquity contextRef="AsOf2020-12-31_us-gaap_CommonStockMember" decimals="0" unitRef="USD"> 832 </us-gaap:StockholdersEquity>

<us-gaap:SharesOutstanding contextRef="AsOf2020-12-31_us-gaap_PreferredStockMember_us-gaap_PreferredClassAMember" decimals="INF" unitRef="Shares"> 7000000 </us-gaap:SharesOutstanding>

<us-gaap:StockholdersEquity contextRef="AsOf2020-12-31_us-gaap_PreferredStockMember_us-gaap_PreferredClassAMember" decimals="0" unitRef="USD"> 7000 </us-gaap:StockholdersEquity>

<us-gaap:StockholdersEquity contextRef="AsOf2020-12-31_us-gaap_PreferredStockMember_custom_ClassCConvertiblePreferredStockMember" decimals="0" unitRef="USD"> 7000 </us-gaap:StockholdersEquity>

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<us-gaap:StockholdersEquity contextRef="AsOf2020-12-31" decimals="0" unitRef="USD"> -762303 </us-gaap:StockholdersEquity>

<us-gaap:StockIssuedDuringPeriodSharesShareBasedCompensationGross contextRef="From2021-01-012021-06-30_us-gaap_CommonStockMember" decimals="INF" unitRef="Shares"> 100000 </us-gaap:StockIssuedDuringPeriodSharesShareBasedCompensationGross>

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<p id="xdx_80C_eus-gaap--OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock_zgjbNtEoLU4h" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">NOTE 1: ORGANIZATION AND NATURE OF OPERATIONS Edge Data Solutions, Inc. (the “Company,” “EDGE”), a Delaware Corporation, believes it is poised to be an industry-leading edge data center, cryptocurrency mining and cloud infrastructure provider. EDGE’s unique Edge Performance Platform (EPP) brings sustainable immersion-cooled high-performance computing to where it is needed most. EPP offers efficient immersion-cooled computing power for a variety of applications, including sustainable cryptocurrency mining, edge computing. Long-term, opting for EPP significantly reduces investment, and certain edge computing applications require less up-front investment. Industries that EDGE believes will benefit from low-latency technology with a lower carbon footprint include cryptocurrency mining, public and private cloud providers, edge cloud providers, data centers, high-performance computing providers, virtual desktop infrastructure providers, telecom, cybersecurity and disaster recovery providers, streaming providers, artificial intelligence innovators, colleges, hospitals, governments, and enterprise blockchain infrastructure providers.

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NOTE 2: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Management’s Representation of Interim Financial Statements The accompanying unaudited consolidated financial statements have been prepared by the Company without audit pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Certain information and disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) have been condensed or omitted as allowed by such rules and regulations, and management believes that the disclosures are adequate to make the information presented not misleading. These unaudited consolidated financial statements include all of the adjustments, which in the opinion of management are necessary to a fair presentation of the Company’s financial position and results of operations. All such adjustments are of a normal and recurring nature. Interim results are not necessarily indicative of results for a full year. These unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements as of December 31, 2021 and 2020, as presented in the Company’s 2021 Annual Report on Form 10-K, as filed on April 1, 2022 with the SEC. Basis of Presentation The accounting and reporting policies of the Company conform to accounting principles generally accepted in the United States of America (GAAP). The Company maintains the calendar year as its basis of reporting. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Cash Equivalents and Concentration of Cash Balance The Company considers all highly liquid securities with an original maturity of less than three months to be cash equivalents. The Company’s cash and cash equivalents in bank deposit accounts, at times, may exceed federally insured limits. As of June 30, 2022, and December 31, 2021, the Company’s cash balances exceeded federal insurance limits by $608,721 and $581,209, respectively. EDGE DATA SOLUTIONS, INC. NOTES TO FINANCIAL STATEMENTS As of June 30, 2022 (Unaudited) and for the Three and Six Months Then Ended (Unaudited) Right of Use Assets and Lease Liabilities In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842). The standard requires lessees to recognize almost all leases on the balance sheet as a Right-of-Use (“ROU”) asset and a lease liability and requires leases to be classified as either an operating or a finance type lease. The standard excludes leases of intangible assets or inventory. The standard became effective for the Company beginning January 1, 2019. Since the Company had no leases in place prior to or during 2019, the Company has adopted ASC 842 prospectively and has applied it to its first lease agreement in 2020. Under ASC 842, the Company determines if an arrangement is a lease at inception. ROU assets and liabilities are recognized at commencement date based on the present value of remaining lease payments over the lease term. For this purpose, the Company considers only payments that are fixed and determinable at the time of commencement. As most of the Company’s leases do not provide an implicit rate, the Company estimated the incremental borrowing rate in determining the present value of lease payments. The ROU asset also includes any lease payments made prior to commencement and is recorded net of any lease incentives received. The Company’ lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise such options. Inventory The Company values inventory at its original cost, adjusted to approximate the lower of actual cost or estimated net realizable value using assumptions about future demand and market conditions. In determining excess or obsolescence reserves for its products, the Company considers assumptions such as changes in business and economic conditions, other-than-temporary decreases in demand for its products, and changes in technology or customer requirements. In determining the lower of cost or net realizable value reserves, the Company considers assumptions such as recent historical sales activity and selling prices, as well as estimates of future selling prices. The Company fully reserves for inventories and non-cancellable purchase orders for inventory deemed obsolete. The Company performs periodic reviews of inventory items to identify excess inventories on hand by comparing on-hand balances and non-cancellable purchase orders to anticipated usage using recent historical activity as well as anticipated or forecasted demand. If estimates of customer demand diminish further or market conditions become less favorable than those projected by the Company, additional inventory carrying value adjustments may be required. As of June 30, 2022 and December 31, 2021, the Company had $68,159 and $11,530 of inventory and had outstanding deposits of $151,329 and $2,161,683 with vendors for the purchase of equipment for resale to customers, all respectively. As of June 30, 2022 and December 31, 2021, respectively, these deposits consisted of: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; background-color: white"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">$0 and $34,000 of equipment in transit and not yet delivered</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">$43,926 and $2,127,683 of equipment in production and not yet shipped or delivered to customers</td></tr> </table> As of June 30, 2022 and December 31, 2021, remaining costs of in-production equipment not yet shipped totaled $173,756 and $3,951,547, respectively. Terms with the Company’s vendors call for full payment prior to shipment when equipment is ready for delivery. Property and Equipment Property and equipment are stated at cost net of accumulated depreciation and amortization, and accumulated impairment, if any. Depreciation and amortization of property and equipment is provided using the straight-line method over estimated useful lives, which are all currently estimated at three years. As of June 30, 2022 and December 31, 2021, the Company’s property and equipment consisted of $<span id="xdx_909_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0p0_c20220630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--ComputerEquipmentMember_zFtAe14WthEb" title="Servers and other computing equipment">102,762 and $<span id="xdx_90D_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0p0_c20211231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--ComputerEquipmentMember_zRjrBNl8g5o" title="Servers and other computing equipment">84,133 of computing equipment, net of $<span id="xdx_907_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iI_pp0p0_c20220630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--ComputerEquipmentMember_zlIwlk9klwn4" title="Accumulated depreciation">60,049 and $<span id="xdx_906_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iI_pp0p0_c20211231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--ComputerEquipmentMember_z5ZWQDujVVa3" title="Accumulated depreciation">16,641 of accumulated depreciation, all respectively. Depreciation expense for three and six months ended June 30, 2022 and 2021 was $7,776 and $7,088 and $15,012 and $14,066, respectively. Intangible Assets – Website Development Costs The Company accounts for its website development costs in accordance with FASB Accounting Standards Codification ASC 350-40, Intangibles-Goodwill and Other, Internal-Use Software, and ASC 350-50, Intangibles-Goodwill and Other, Website Development Costs. During the infrastructure development stage of its website, the Company capitalizes development and other costs associating with preparing the website for use. When the website or an individual module of the website is ready for its internal use, amortization will begin on a straight-line basis over its estimated useful life. The Company estimates that the website’s estimated useful life will be approximately three years, after taking into account the effects of obsolescence, technology, competition and other economic factors. During the six months ended June 30, 2022, the Company capitalized $40,000 of web development costs pertaining to a new website. The website was not yet in service as of June 30, 2022, and the Company therefore recognized no amortization expense for the three and six months ended June 30, 2022. Long-Lived Assets The Company evaluates the recoverability of its long-lived assets whenever events or changes in circumstances have indicated that an asset may not be recoverable. Long-lived assets are grouped with other assets at the lowest level for which identifiable cash flows are largely independent of the cash flows of other groups of assets and liabilities. If the sum of the projected undiscounted cash flows is less than the carrying value of the assets, the assets are written down to the estimated fair value. As of June 30, 2022, the Company determined that its long-lived assets have not been impaired. Accounts Payable and Accrued Liabilities Accounts payable consisted of $26,424 and $74,434 of liabilities incurred by the issuer prior to the merger as of June 30, 2022 and December 31, 2021, respectively. The remaining accounts payable consisted of amounts due to vendors for delivered product, professional services and various other general and administrative expenses incurred after the acquisition. As of June 30, 2022 and December 31, 2021, accrued liabilities consisted of the following: SCHEDULE OF ACCRUED LIABILITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 60%"> <tr style="display: none; vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_490_20220630_z8EqFU41g5n" style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_497_20211231_zCNsxThXQ3g1" style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center">As of</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">June 30,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-style: italic"> </td> <td colspan="2" style="font-style: italic; text-align: center">(Unaudited)</td><td style="font-style: italic"> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_401_eus-gaap--TaxesPayableCurrentAndNoncurrent_iI_maALCANzAtZ_zfjCLPHJKMne" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 56%; text-align: left">State and local tax liabilities</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">98,092</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 20%; text-align: right">201,559</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--InterestPayableCurrentAndNoncurrent_iI_maALCANzAtZ_zEnmARgCN9jf" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accrued interest</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">35,303</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">119,889</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--EmployeeRelatedLiabilitiesCurrentAndNoncurrent_iI_maALCANzAtZ_zbVdISBXyjxd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Payroll liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">114,139</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">117,976</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--ReserveForSalesReturnsCurrentAndNoncurrent_iI_maALCANzAtZ_zvgZgaZWEeTj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Reserve for Sales Returns</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--OtherAccruedLiabilitiesCurrentAndNoncurrent_iI_maALCANzAtZ_zWGT3UuUhcaa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accrued expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,967</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--AccruedSalesCommissionCurrentAndNoncurrent_iI_maALCANzAtZ_zVHFSFtvxtk" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Accrued commissions</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">29,592</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">5,553</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--AccruedLiabilitiesCurrentAndNoncurrent_iTI_mtALCANzAtZ_z9IRPOx4UTK" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total accrued liabilities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">277,126</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">451,944</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> EDGE DATA SOLUTIONS, INC. NOTES TO FINANCIAL STATEMENTS As of June 30, 2022 (Unaudited) and for the Three and Six Months Then Ended (Unaudited) Fair Value of Financial Instruments Financial Accounting Standards Board (“FASB”) guidance specifies a hierarchy of valuation techniques based on whether the inputs to those valuation techniques are observable or unobservable. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect market assumptions. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurement) and the lowest priority to unobservable inputs (Level 3 measurement). The three levels of the fair value hierarchy are as follows: Level 1 – Unadjusted quoted prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. Level 1 primarily consists of financial instruments whose value is based on quoted market prices such as exchange-traded instruments and listed equities. Level 2 – Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly (e.g., quoted prices of similar assets or liabilities inactive markets, or quoted prices for identical or similar assets or liabilities in markets that are not active). Level 3 – Unobservable inputs for the asset or liability. Financial instruments are considered Level 3 when their fair values are determined using pricing models, discounted cash flows or similar techniques and at least one significant model assumption or input is unobservable. The carrying amounts reported in the balance sheets approximate their fair value. Revenue Recognition The Company recognizes revenue under ASC 606, using the following five-step model, which requires that the Company: (1) identify a contract with the customer, (2) identify the performance obligations in the contract, (3) determine the transaction price, (4) allocate the transaction price to performance obligations and (5) recognize revenue as performance obligations are satisfied. The Company’s revenue activities consist of: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">1.</td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Data center infrastructure and equipment sales – The Company resells immersion-cooled data center products, equipment and project management services. Performance obligations include:</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Delivery of physical products</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Provision of any agreed-upon project management and other services</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Conclusion of defined period for any support services</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">2.</td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Computing – During the interim period ended June 30, 2021, the Company operated high performance servers to provide hardware acceleration for rendering farms to process 3D video rendering and other high-performance computing tasks. The Company’s performance obligation with respect to computing revenue is the provision of specified computing services to the client. The Company did not generate revenue from cloud computing services during the three or six months ended June 30, 2022.</td></tr> </table> During the three and six months ended June 30, 2022 and 2021, the Company recognized $0 and $12,709 and $0 and $29,483 of revenue from its customers’ usage of computing credits, with associated costs of $0 and $18,917 and $0 and $36,567, all respectively. The Company further recognized a deferred revenue liability of $9,478 and $9,478, respectively for prepaid usage credits not yet used by its customers as of June 30, 2022 and December 31, 2021, respectively. As of June 30, 2022 and December 31, 2021, the Company recognized $258,699 and $3,197,990, in deposits representing cash paid by customers for data center infrastructure products to be delivered in subsequent periods and had corresponding deposits with vendors of $151,329 and $2,161,683 for product to be delivered, all respectively. Crypto Assets Held The crypto assets held by the Company, with no qualifying fair value hedge, are accounted for as intangible assets with indefinite useful lives and are initially measured at cost. Crypto assets accounted for as intangible assets are not amortized, but assessed for impairment annually, or more frequently, when events or changes in circumstances occur indicating that it is more likely than not that the indefinite-lived asset is impaired. Impairment exists when the carrying amount exceeds its fair value, which is measured using the quoted price of the crypto asset at the time its fair value is being measured. Impairment expense is reflected in other operating expense in the consolidated statements of operations. The Company assigns costs to transactions on a first-in, first-out basis. As of June 30, 2022 and December 31, 2021, the carrying value of crypto assets held by the Company was $3,940 and $3,940, respectively. During the three months ended June 30, 2022, the Company recognized a loss of $1,976 related to the collection and immediate liquidation of cryptocurrency as payment for a customer order. Cryptocurrency Income The Company records cryptocurrency generated, net of fees and valuation adjustments, as other income and classifies the cryptocurrency as crypto assets held at cost in its balance sheets. When the company sells its cryptocurrencies, it recognizes a gain or loss for the difference between original cost and the selling price, net of fees. The Company generated no cryptocurrency income and did not record an impairment loss during the three and six months ended June 30, 2022. Stock-Based Compensation The Company accounts for share-based payments pursuant to ASC 718, “Stock Compensation” and, accordingly, the Company records compensation expense for share-based awards based upon an assessment of the grant date fair value for stock options and restricted stock awards using the Black-Scholes option pricing model. Stock compensation expense for stock options is recognized over the vesting period of the award or expensed immediately when stock or options are awarded for previous or current service without further recourse. Net (Loss) per Common Share Basic net loss per common share is calculated by dividing the net loss attributable to common stockholders by the weighted average number of common shares outstanding for the period, without consideration for common stock equivalents. For the three and six months ended June 30, 2022, certain potentially dilutive securities and derivatives were excluded from the computation of diluted loss per share as the effect would be to reduce the net loss per common share. Therefore, the weighted-average common stock outstanding used to calculate both basic and diluted net loss per share is the same for these loss periods. The following table sets forth the net loss per common share computation for the three and six months ended June 30, 2022: SCHEDULE OF NET INCOME (LOSS) PER SHARE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Weighted Average</td><td style="font-weight: bold"> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Net Income</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Common Shares</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Per Share</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">(Numerator)</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">(Denominator)</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Amount</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Three Months Ended June 30, 2022 (Unaudited)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Basic and Diluted (Loss) Per Common Share</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; width: 46%; text-align: left">(Loss) available to common stockholders</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98A_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_c20220401__20220630_zX4ksMRdhb5k" style="width: 14%; text-align: right" title="Net income">(3,950,107</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98C_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20220401__20220630_zp6CoSaJE8bb" style="width: 14%; text-align: right" title="Weighted average common shares">11,104,162</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98A_eus-gaap--EarningsPerShareBasic_c20220401__20220630_zYkpF33JhCBj" style="width: 14%; text-align: right" title="Earnings per share basic">(0.36</td><td style="width: 1%; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold">Six Months Ended June 30, 2022 (Unaudited)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Basic and Diluted (Loss) Per Common Share</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">(Loss) available to common stockholders</td><td> </td> <td style="text-align: left">$</td><td id="xdx_98B_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_c20220101__20220630_zW9SKgRQ8u56" style="text-align: right" title="Income available to common stockholders, Net Income">(2,740,316</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20220101__20220630_zSKhTH7XKxn7" style="text-align: right" title="Income available to common stockholders, Weighted Average Common Shares">10,449,520</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98A_eus-gaap--EarningsPerShareBasic_c20220101__20220630_z4ZbYVKEo2pf" style="text-align: right" title="Income available to common stockholders, Per Share Amount">(0.26</td><td style="text-align: left">)</td></tr> </table> EDGE DATA SOLUTIONS, INC. NOTES TO FINANCIAL STATEMENTS As of June 30, 2022 (Unaudited) and for the Three and Six Months Then Ended (Unaudited) Income Taxes The Company is subject to taxation in various jurisdictions and may be subject to examination by various authorities. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets, including tax loss and credit carryforwards, and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. Deferred income tax expense represents the change during the period in the deferred tax assets and deferred tax liabilities. The components of the deferred tax assets and liabilities are individually classified as current and non-current based on their characteristics. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. The Company recognizes the amount of taxes payable or refundable for the current year and recognizes deferred tax liabilities and assets for the expected future tax consequences of events and transactions that have been recognized in the Company’s financial statements or tax returns.

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Management’s Representation of Interim Financial Statements The accompanying unaudited consolidated financial statements have been prepared by the Company without audit pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Certain information and disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) have been condensed or omitted as allowed by such rules and regulations, and management believes that the disclosures are adequate to make the information presented not misleading. These unaudited consolidated financial statements include all of the adjustments, which in the opinion of management are necessary to a fair presentation of the Company’s financial position and results of operations. All such adjustments are of a normal and recurring nature. Interim results are not necessarily indicative of results for a full year. These unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements as of December 31, 2021 and 2020, as presented in the Company’s 2021 Annual Report on Form 10-K, as filed on April 1, 2022 with the SEC.

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Basis of Presentation The accounting and reporting policies of the Company conform to accounting principles generally accepted in the United States of America (GAAP). The Company maintains the calendar year as its basis of reporting.

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Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

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Cash Equivalents and Concentration of Cash Balance The Company considers all highly liquid securities with an original maturity of less than three months to be cash equivalents. The Company’s cash and cash equivalents in bank deposit accounts, at times, may exceed federally insured limits. As of June 30, 2022, and December 31, 2021, the Company’s cash balances exceeded federal insurance limits by $608,721 and $581,209, respectively. EDGE DATA SOLUTIONS, INC. NOTES TO FINANCIAL STATEMENTS As of June 30, 2022 (Unaudited) and for the Three and Six Months Then Ended (Unaudited)

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<us-gaap:CashFDICInsuredAmount contextRef="AsOf2021-12-31" decimals="0" unitRef="USD"> 581209 </us-gaap:CashFDICInsuredAmount>

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Right of Use Assets and Lease Liabilities In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842). The standard requires lessees to recognize almost all leases on the balance sheet as a Right-of-Use (“ROU”) asset and a lease liability and requires leases to be classified as either an operating or a finance type lease. The standard excludes leases of intangible assets or inventory. The standard became effective for the Company beginning January 1, 2019. Since the Company had no leases in place prior to or during 2019, the Company has adopted ASC 842 prospectively and has applied it to its first lease agreement in 2020. Under ASC 842, the Company determines if an arrangement is a lease at inception. ROU assets and liabilities are recognized at commencement date based on the present value of remaining lease payments over the lease term. For this purpose, the Company considers only payments that are fixed and determinable at the time of commencement. As most of the Company’s leases do not provide an implicit rate, the Company estimated the incremental borrowing rate in determining the present value of lease payments. The ROU asset also includes any lease payments made prior to commencement and is recorded net of any lease incentives received. The Company’ lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise such options.

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<us-gaap:InventoryPolicyTextBlock contextRef="From2022-01-01to2022-06-30">

Inventory The Company values inventory at its original cost, adjusted to approximate the lower of actual cost or estimated net realizable value using assumptions about future demand and market conditions. In determining excess or obsolescence reserves for its products, the Company considers assumptions such as changes in business and economic conditions, other-than-temporary decreases in demand for its products, and changes in technology or customer requirements. In determining the lower of cost or net realizable value reserves, the Company considers assumptions such as recent historical sales activity and selling prices, as well as estimates of future selling prices. The Company fully reserves for inventories and non-cancellable purchase orders for inventory deemed obsolete. The Company performs periodic reviews of inventory items to identify excess inventories on hand by comparing on-hand balances and non-cancellable purchase orders to anticipated usage using recent historical activity as well as anticipated or forecasted demand. If estimates of customer demand diminish further or market conditions become less favorable than those projected by the Company, additional inventory carrying value adjustments may be required. As of June 30, 2022 and December 31, 2021, the Company had $68,159 and $11,530 of inventory and had outstanding deposits of $151,329 and $2,161,683 with vendors for the purchase of equipment for resale to customers, all respectively. As of June 30, 2022 and December 31, 2021, respectively, these deposits consisted of: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; background-color: white"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">$0 and $34,000 of equipment in transit and not yet delivered</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">$43,926 and $2,127,683 of equipment in production and not yet shipped or delivered to customers</td></tr> </table> As of June 30, 2022 and December 31, 2021, remaining costs of in-production equipment not yet shipped totaled $173,756 and $3,951,547, respectively. Terms with the Company’s vendors call for full payment prior to shipment when equipment is ready for delivery.

</us-gaap:InventoryPolicyTextBlock>

<us-gaap:InventoryNet contextRef="AsOf2022-06-30" decimals="0" unitRef="USD"> 68159 </us-gaap:InventoryNet>

<us-gaap:InventoryNet contextRef="AsOf2021-12-31" decimals="0" unitRef="USD"> 11530 </us-gaap:InventoryNet>

<us-gaap:DepositsAssetsCurrent contextRef="AsOf2022-06-30_custom_VendorMember" decimals="0" unitRef="USD"> 151329 </us-gaap:DepositsAssetsCurrent>

<us-gaap:DepositsAssetsCurrent contextRef="AsOf2021-12-31_custom_VendorMember" decimals="0" unitRef="USD"> 2161683 </us-gaap:DepositsAssetsCurrent>

<us-gaap:OtherInventoryInTransit contextRef="AsOf2022-06-30_custom_VendorMember" decimals="0" unitRef="USD"> 0 </us-gaap:OtherInventoryInTransit>

<us-gaap:OtherInventoryInTransit contextRef="AsOf2021-12-31_custom_VendorMember" decimals="0" unitRef="USD"> 34000 </us-gaap:OtherInventoryInTransit>

<us-gaap:InventoryWorkInProcess contextRef="AsOf2022-06-30_custom_VendorMember" decimals="0" unitRef="USD"> 43926 </us-gaap:InventoryWorkInProcess>

<us-gaap:InventoryWorkInProcess contextRef="AsOf2021-12-31_custom_VendorMember" decimals="0" unitRef="USD"> 2127683 </us-gaap:InventoryWorkInProcess>

<us-gaap:InventoryWorkInProcess contextRef="AsOf2022-06-30" decimals="0" unitRef="USD"> 173756 </us-gaap:InventoryWorkInProcess>

<us-gaap:InventoryWorkInProcess contextRef="AsOf2021-12-31" decimals="0" unitRef="USD"> 3951547 </us-gaap:InventoryWorkInProcess>

<us-gaap:PropertyPlantAndEquipmentPolicyTextBlock contextRef="From2022-01-01to2022-06-30">

Property and Equipment Property and equipment are stated at cost net of accumulated depreciation and amortization, and accumulated impairment, if any. Depreciation and amortization of property and equipment is provided using the straight-line method over estimated useful lives, which are all currently estimated at three years. As of June 30, 2022 and December 31, 2021, the Company’s property and equipment consisted of $<span id="xdx_909_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0p0_c20220630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--ComputerEquipmentMember_zFtAe14WthEb" title="Servers and other computing equipment">102,762 and $<span id="xdx_90D_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0p0_c20211231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--ComputerEquipmentMember_zRjrBNl8g5o" title="Servers and other computing equipment">84,133 of computing equipment, net of $<span id="xdx_907_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iI_pp0p0_c20220630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--ComputerEquipmentMember_zlIwlk9klwn4" title="Accumulated depreciation">60,049 and $<span id="xdx_906_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iI_pp0p0_c20211231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--ComputerEquipmentMember_z5ZWQDujVVa3" title="Accumulated depreciation">16,641 of accumulated depreciation, all respectively. Depreciation expense for three and six months ended June 30, 2022 and 2021 was $7,776 and $7,088 and $15,012 and $14,066, respectively.

</us-gaap:PropertyPlantAndEquipmentPolicyTextBlock>

<us-gaap:PropertyPlantAndEquipmentGross contextRef="AsOf2022-06-30_us-gaap_ComputerEquipmentMember" decimals="0" unitRef="USD"> 102762 </us-gaap:PropertyPlantAndEquipmentGross>

<us-gaap:PropertyPlantAndEquipmentGross contextRef="AsOf2021-12-31_us-gaap_ComputerEquipmentMember" decimals="0" unitRef="USD"> 84133 </us-gaap:PropertyPlantAndEquipmentGross>

<us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment contextRef="AsOf2022-06-30_us-gaap_ComputerEquipmentMember" decimals="0" unitRef="USD"> 60049 </us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment>

<us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment contextRef="AsOf2021-12-31_us-gaap_ComputerEquipmentMember" decimals="0" unitRef="USD"> 16641 </us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment>

<us-gaap:DepreciationNonproduction contextRef="From2022-04-012022-06-30" decimals="0" unitRef="USD"> 7776 </us-gaap:DepreciationNonproduction>

<us-gaap:DepreciationNonproduction contextRef="From2021-04-012021-06-30" decimals="0" unitRef="USD"> 7088 </us-gaap:DepreciationNonproduction>

<us-gaap:DepreciationNonproduction contextRef="From2022-01-01to2022-06-30" decimals="0" unitRef="USD"> 15012 </us-gaap:DepreciationNonproduction>

<us-gaap:DepreciationNonproduction contextRef="From2021-01-012021-06-30" decimals="0" unitRef="USD"> 14066 </us-gaap:DepreciationNonproduction>

<us-gaap:IntangibleAssetsFiniteLivedPolicy contextRef="From2022-01-01to2022-06-30">

Intangible Assets – Website Development Costs The Company accounts for its website development costs in accordance with FASB Accounting Standards Codification ASC 350-40, Intangibles-Goodwill and Other, Internal-Use Software, and ASC 350-50, Intangibles-Goodwill and Other, Website Development Costs. During the infrastructure development stage of its website, the Company capitalizes development and other costs associating with preparing the website for use. When the website or an individual module of the website is ready for its internal use, amortization will begin on a straight-line basis over its estimated useful life. The Company estimates that the website’s estimated useful life will be approximately three years, after taking into account the effects of obsolescence, technology, competition and other economic factors. During the six months ended June 30, 2022, the Company capitalized $40,000 of web development costs pertaining to a new website. The website was not yet in service as of June 30, 2022, and the Company therefore recognized no amortization expense for the three and six months ended June 30, 2022.

</us-gaap:IntangibleAssetsFiniteLivedPolicy>

<us-gaap:FiniteLivedIntangibleAssetsNet contextRef="AsOf2022-06-30" decimals="0" unitRef="USD"> 40000 </us-gaap:FiniteLivedIntangibleAssetsNet>

<us-gaap:ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock contextRef="From2022-01-01to2022-06-30">

Long-Lived Assets The Company evaluates the recoverability of its long-lived assets whenever events or changes in circumstances have indicated that an asset may not be recoverable. Long-lived assets are grouped with other assets at the lowest level for which identifiable cash flows are largely independent of the cash flows of other groups of assets and liabilities. If the sum of the projected undiscounted cash flows is less than the carrying value of the assets, the assets are written down to the estimated fair value. As of June 30, 2022, the Company determined that its long-lived assets have not been impaired.

</us-gaap:ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock>

<EDGS:AccountsPayableAndAccruedLiabilitiesPolicyTextBlock contextRef="From2022-01-01to2022-06-30">

Accounts Payable and Accrued Liabilities Accounts payable consisted of $26,424 and $74,434 of liabilities incurred by the issuer prior to the merger as of June 30, 2022 and December 31, 2021, respectively. The remaining accounts payable consisted of amounts due to vendors for delivered product, professional services and various other general and administrative expenses incurred after the acquisition. As of June 30, 2022 and December 31, 2021, accrued liabilities consisted of the following: SCHEDULE OF ACCRUED LIABILITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 60%"> <tr style="display: none; vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_490_20220630_z8EqFU41g5n" style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_497_20211231_zCNsxThXQ3g1" style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center">As of</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">June 30,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-style: italic"> </td> <td colspan="2" style="font-style: italic; text-align: center">(Unaudited)</td><td style="font-style: italic"> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_401_eus-gaap--TaxesPayableCurrentAndNoncurrent_iI_maALCANzAtZ_zfjCLPHJKMne" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 56%; text-align: left">State and local tax liabilities</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">98,092</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 20%; text-align: right">201,559</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--InterestPayableCurrentAndNoncurrent_iI_maALCANzAtZ_zEnmARgCN9jf" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accrued interest</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">35,303</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">119,889</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--EmployeeRelatedLiabilitiesCurrentAndNoncurrent_iI_maALCANzAtZ_zbVdISBXyjxd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Payroll liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">114,139</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">117,976</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--ReserveForSalesReturnsCurrentAndNoncurrent_iI_maALCANzAtZ_zvgZgaZWEeTj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Reserve for Sales Returns</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--OtherAccruedLiabilitiesCurrentAndNoncurrent_iI_maALCANzAtZ_zWGT3UuUhcaa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accrued expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,967</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--AccruedSalesCommissionCurrentAndNoncurrent_iI_maALCANzAtZ_zVHFSFtvxtk" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Accrued commissions</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">29,592</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">5,553</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--AccruedLiabilitiesCurrentAndNoncurrent_iTI_mtALCANzAtZ_z9IRPOx4UTK" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total accrued liabilities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">277,126</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">451,944</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> EDGE DATA SOLUTIONS, INC. NOTES TO FINANCIAL STATEMENTS As of June 30, 2022 (Unaudited) and for the Three and Six Months Then Ended (Unaudited)

</EDGS:AccountsPayableAndAccruedLiabilitiesPolicyTextBlock>

<us-gaap:AccountsPayableOtherCurrent contextRef="AsOf2022-06-30" decimals="0" unitRef="USD"> 26424 </us-gaap:AccountsPayableOtherCurrent>

<us-gaap:AccountsPayableOtherCurrent contextRef="AsOf2021-12-31" decimals="0" unitRef="USD"> 74434 </us-gaap:AccountsPayableOtherCurrent>

<us-gaap:ScheduleOfAccruedLiabilitiesTableTextBlock contextRef="From2022-01-01to2022-06-30">

As of June 30, 2022 and December 31, 2021, accrued liabilities consisted of the following: SCHEDULE OF ACCRUED LIABILITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 60%"> <tr style="display: none; vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_490_20220630_z8EqFU41g5n" style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_497_20211231_zCNsxThXQ3g1" style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center">As of</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">June 30,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-style: italic"> </td> <td colspan="2" style="font-style: italic; text-align: center">(Unaudited)</td><td style="font-style: italic"> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_401_eus-gaap--TaxesPayableCurrentAndNoncurrent_iI_maALCANzAtZ_zfjCLPHJKMne" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 56%; text-align: left">State and local tax liabilities</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">98,092</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 20%; text-align: right">201,559</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--InterestPayableCurrentAndNoncurrent_iI_maALCANzAtZ_zEnmARgCN9jf" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accrued interest</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">35,303</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">119,889</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--EmployeeRelatedLiabilitiesCurrentAndNoncurrent_iI_maALCANzAtZ_zbVdISBXyjxd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Payroll liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">114,139</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">117,976</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--ReserveForSalesReturnsCurrentAndNoncurrent_iI_maALCANzAtZ_zvgZgaZWEeTj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Reserve for Sales Returns</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--OtherAccruedLiabilitiesCurrentAndNoncurrent_iI_maALCANzAtZ_zWGT3UuUhcaa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accrued expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,967</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--AccruedSalesCommissionCurrentAndNoncurrent_iI_maALCANzAtZ_zVHFSFtvxtk" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Accrued commissions</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">29,592</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">5,553</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--AccruedLiabilitiesCurrentAndNoncurrent_iTI_mtALCANzAtZ_z9IRPOx4UTK" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total accrued liabilities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">277,126</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">451,944</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

</us-gaap:ScheduleOfAccruedLiabilitiesTableTextBlock>

<us-gaap:TaxesPayableCurrentAndNoncurrent contextRef="AsOf2022-06-30" decimals="0" unitRef="USD"> 98092 </us-gaap:TaxesPayableCurrentAndNoncurrent>

<us-gaap:TaxesPayableCurrentAndNoncurrent contextRef="AsOf2021-12-31" decimals="0" unitRef="USD"> 201559 </us-gaap:TaxesPayableCurrentAndNoncurrent>

<us-gaap:InterestPayableCurrentAndNoncurrent contextRef="AsOf2022-06-30" decimals="0" unitRef="USD"> 35303 </us-gaap:InterestPayableCurrentAndNoncurrent>

<us-gaap:InterestPayableCurrentAndNoncurrent contextRef="AsOf2021-12-31" decimals="0" unitRef="USD"> 119889 </us-gaap:InterestPayableCurrentAndNoncurrent>

<us-gaap:EmployeeRelatedLiabilitiesCurrentAndNoncurrent contextRef="AsOf2022-06-30" decimals="0" unitRef="USD"> 114139 </us-gaap:EmployeeRelatedLiabilitiesCurrentAndNoncurrent>

<us-gaap:EmployeeRelatedLiabilitiesCurrentAndNoncurrent contextRef="AsOf2021-12-31" decimals="0" unitRef="USD"> 117976 </us-gaap:EmployeeRelatedLiabilitiesCurrentAndNoncurrent>

<us-gaap:OtherAccruedLiabilitiesCurrentAndNoncurrent contextRef="AsOf2021-12-31" decimals="0" unitRef="USD"> 6967 </us-gaap:OtherAccruedLiabilitiesCurrentAndNoncurrent>

<us-gaap:AccruedSalesCommissionCurrentAndNoncurrent contextRef="AsOf2022-06-30" decimals="0" unitRef="USD"> 29592 </us-gaap:AccruedSalesCommissionCurrentAndNoncurrent>

<us-gaap:AccruedSalesCommissionCurrentAndNoncurrent contextRef="AsOf2021-12-31" decimals="0" unitRef="USD"> 5553 </us-gaap:AccruedSalesCommissionCurrentAndNoncurrent>

<us-gaap:AccruedLiabilitiesCurrentAndNoncurrent contextRef="AsOf2022-06-30" decimals="0" unitRef="USD"> 277126 </us-gaap:AccruedLiabilitiesCurrentAndNoncurrent>

<us-gaap:AccruedLiabilitiesCurrentAndNoncurrent contextRef="AsOf2021-12-31" decimals="0" unitRef="USD"> 451944 </us-gaap:AccruedLiabilitiesCurrentAndNoncurrent>

<us-gaap:FairValueOfFinancialInstrumentsPolicy contextRef="From2022-01-01to2022-06-30">

Fair Value of Financial Instruments Financial Accounting Standards Board (“FASB”) guidance specifies a hierarchy of valuation techniques based on whether the inputs to those valuation techniques are observable or unobservable. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect market assumptions. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurement) and the lowest priority to unobservable inputs (Level 3 measurement). The three levels of the fair value hierarchy are as follows: Level 1 – Unadjusted quoted prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. Level 1 primarily consists of financial instruments whose value is based on quoted market prices such as exchange-traded instruments and listed equities. Level 2 – Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly (e.g., quoted prices of similar assets or liabilities inactive markets, or quoted prices for identical or similar assets or liabilities in markets that are not active). Level 3 – Unobservable inputs for the asset or liability. Financial instruments are considered Level 3 when their fair values are determined using pricing models, discounted cash flows or similar techniques and at least one significant model assumption or input is unobservable. The carrying amounts reported in the balance sheets approximate their fair value.

</us-gaap:FairValueOfFinancialInstrumentsPolicy>

<us-gaap:RevenueFromContractWithCustomerPolicyTextBlock contextRef="From2022-01-01to2022-06-30">

Revenue Recognition The Company recognizes revenue under ASC 606, using the following five-step model, which requires that the Company: (1) identify a contract with the customer, (2) identify the performance obligations in the contract, (3) determine the transaction price, (4) allocate the transaction price to performance obligations and (5) recognize revenue as performance obligations are satisfied. The Company’s revenue activities consist of: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">1.</td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Data center infrastructure and equipment sales – The Company resells immersion-cooled data center products, equipment and project management services. Performance obligations include:</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Delivery of physical products</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Provision of any agreed-upon project management and other services</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Conclusion of defined period for any support services</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">2.</td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Computing – During the interim period ended June 30, 2021, the Company operated high performance servers to provide hardware acceleration for rendering farms to process 3D video rendering and other high-performance computing tasks. The Company’s performance obligation with respect to computing revenue is the provision of specified computing services to the client. The Company did not generate revenue from cloud computing services during the three or six months ended June 30, 2022.</td></tr> </table> During the three and six months ended June 30, 2022 and 2021, the Company recognized $0 and $12,709 and $0 and $29,483 of revenue from its customers’ usage of computing credits, with associated costs of $0 and $18,917 and $0 and $36,567, all respectively. The Company further recognized a deferred revenue liability of $9,478 and $9,478, respectively for prepaid usage credits not yet used by its customers as of June 30, 2022 and December 31, 2021, respectively. As of June 30, 2022 and December 31, 2021, the Company recognized $258,699 and $3,197,990, in deposits representing cash paid by customers for data center infrastructure products to be delivered in subsequent periods and had corresponding deposits with vendors of $151,329 and $2,161,683 for product to be delivered, all respectively.

</us-gaap:RevenueFromContractWithCustomerPolicyTextBlock>

<us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax contextRef="From2022-04-012022-06-30_custom_ComputingCreditsMember" decimals="0" unitRef="USD"> 0 </us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax>

<us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax contextRef="From2021-04-012021-06-30_custom_ComputingCreditsMember" decimals="0" unitRef="USD"> 12709 </us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax>

<us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax contextRef="From2022-01-012022-06-30_custom_ComputingCreditsMember" decimals="0" unitRef="USD"> 0 </us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax>

<us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax contextRef="From2021-01-012021-06-30_custom_ComputingCreditsMember" decimals="0" unitRef="USD"> 29483 </us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax>

<us-gaap:CostOfGoodsAndServicesSold contextRef="From2022-04-012022-06-30_custom_ComputingCreditsMember" decimals="0" unitRef="USD"> 0 </us-gaap:CostOfGoodsAndServicesSold>

<us-gaap:CostOfGoodsAndServicesSold contextRef="From2021-04-012021-06-30_custom_ComputingCreditsMember" decimals="0" unitRef="USD"> 18917 </us-gaap:CostOfGoodsAndServicesSold>

<us-gaap:CostOfGoodsAndServicesSold contextRef="From2022-01-012022-06-30_custom_ComputingCreditsMember" decimals="0" unitRef="USD"> 0 </us-gaap:CostOfGoodsAndServicesSold>

<us-gaap:CostOfGoodsAndServicesSold contextRef="From2021-01-012021-06-30_custom_ComputingCreditsMember" decimals="0" unitRef="USD"> 36567 </us-gaap:CostOfGoodsAndServicesSold>

<us-gaap:DeferredRevenueCurrent contextRef="AsOf2022-06-30" decimals="0" unitRef="USD"> 9478 </us-gaap:DeferredRevenueCurrent>

<us-gaap:DeferredRevenueCurrent contextRef="AsOf2021-12-31" decimals="0" unitRef="USD"> 9478 </us-gaap:DeferredRevenueCurrent>

<us-gaap:Deposits contextRef="AsOf2022-06-30" decimals="0" unitRef="USD"> 258699 </us-gaap:Deposits>

<us-gaap:Deposits contextRef="AsOf2021-12-31" decimals="0" unitRef="USD"> 3197990 </us-gaap:Deposits>

<us-gaap:DepositsAssetsCurrent contextRef="AsOf2022-06-30_custom_VendorsMember" decimals="0" unitRef="USD"> 151329 </us-gaap:DepositsAssetsCurrent>

<us-gaap:DepositsAssetsCurrent contextRef="AsOf2021-12-31_custom_VendorsMember" decimals="0" unitRef="USD"> 2161683 </us-gaap:DepositsAssetsCurrent>

<EDGS:CryptoAssetsHeldPolicyTextBlock contextRef="From2022-01-01to2022-06-30">

Crypto Assets Held The crypto assets held by the Company, with no qualifying fair value hedge, are accounted for as intangible assets with indefinite useful lives and are initially measured at cost. Crypto assets accounted for as intangible assets are not amortized, but assessed for impairment annually, or more frequently, when events or changes in circumstances occur indicating that it is more likely than not that the indefinite-lived asset is impaired. Impairment exists when the carrying amount exceeds its fair value, which is measured using the quoted price of the crypto asset at the time its fair value is being measured. Impairment expense is reflected in other operating expense in the consolidated statements of operations. The Company assigns costs to transactions on a first-in, first-out basis. As of June 30, 2022 and December 31, 2021, the carrying value of crypto assets held by the Company was $3,940 and $3,940, respectively. During the three months ended June 30, 2022, the Company recognized a loss of $1,976 related to the collection and immediate liquidation of cryptocurrency as payment for a customer order.

</EDGS:CryptoAssetsHeldPolicyTextBlock>

<EDGS:CryptoAssetHeld contextRef="AsOf2022-06-30" decimals="0" unitRef="USD"> 3940 </EDGS:CryptoAssetHeld>

<EDGS:CryptoAssetHeld contextRef="AsOf2021-12-31" decimals="0" unitRef="USD"> 3940 </EDGS:CryptoAssetHeld>

<EDGS:LossOnDisposalOfCryptocurrency contextRef="From2022-04-012022-06-30" decimals="0" unitRef="USD"> 1976 </EDGS:LossOnDisposalOfCryptocurrency>

<EDGS:CryptocurrencyIncomePolicyTextBlock contextRef="From2022-01-01to2022-06-30">

Cryptocurrency Income The Company records cryptocurrency generated, net of fees and valuation adjustments, as other income and classifies the cryptocurrency as crypto assets held at cost in its balance sheets. When the company sells its cryptocurrencies, it recognizes a gain or loss for the difference between original cost and the selling price, net of fees. The Company generated no cryptocurrency income and did not record an impairment loss during the three and six months ended June 30, 2022.

</EDGS:CryptocurrencyIncomePolicyTextBlock>

<us-gaap:ShareBasedCompensationOptionAndIncentivePlansPolicy contextRef="From2022-01-01to2022-06-30">

Stock-Based Compensation The Company accounts for share-based payments pursuant to ASC 718, “Stock Compensation” and, accordingly, the Company records compensation expense for share-based awards based upon an assessment of the grant date fair value for stock options and restricted stock awards using the Black-Scholes option pricing model. Stock compensation expense for stock options is recognized over the vesting period of the award or expensed immediately when stock or options are awarded for previous or current service without further recourse.

</us-gaap:ShareBasedCompensationOptionAndIncentivePlansPolicy>

<us-gaap:EarningsPerSharePolicyTextBlock contextRef="From2022-01-01to2022-06-30">

Net (Loss) per Common Share Basic net loss per common share is calculated by dividing the net loss attributable to common stockholders by the weighted average number of common shares outstanding for the period, without consideration for common stock equivalents. For the three and six months ended June 30, 2022, certain potentially dilutive securities and derivatives were excluded from the computation of diluted loss per share as the effect would be to reduce the net loss per common share. Therefore, the weighted-average common stock outstanding used to calculate both basic and diluted net loss per share is the same for these loss periods. The following table sets forth the net loss per common share computation for the three and six months ended June 30, 2022: SCHEDULE OF NET INCOME (LOSS) PER SHARE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Weighted Average</td><td style="font-weight: bold"> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Net Income</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Common Shares</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Per Share</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">(Numerator)</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">(Denominator)</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Amount</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Three Months Ended June 30, 2022 (Unaudited)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Basic and Diluted (Loss) Per Common Share</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; width: 46%; text-align: left">(Loss) available to common stockholders</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98A_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_c20220401__20220630_zX4ksMRdhb5k" style="width: 14%; text-align: right" title="Net income">(3,950,107</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98C_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20220401__20220630_zp6CoSaJE8bb" style="width: 14%; text-align: right" title="Weighted average common shares">11,104,162</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98A_eus-gaap--EarningsPerShareBasic_c20220401__20220630_zYkpF33JhCBj" style="width: 14%; text-align: right" title="Earnings per share basic">(0.36</td><td style="width: 1%; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold">Six Months Ended June 30, 2022 (Unaudited)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Basic and Diluted (Loss) Per Common Share</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">(Loss) available to common stockholders</td><td> </td> <td style="text-align: left">$</td><td id="xdx_98B_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_c20220101__20220630_zW9SKgRQ8u56" style="text-align: right" title="Income available to common stockholders, Net Income">(2,740,316</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20220101__20220630_zSKhTH7XKxn7" style="text-align: right" title="Income available to common stockholders, Weighted Average Common Shares">10,449,520</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98A_eus-gaap--EarningsPerShareBasic_c20220101__20220630_z4ZbYVKEo2pf" style="text-align: right" title="Income available to common stockholders, Per Share Amount">(0.26</td><td style="text-align: left">)</td></tr> </table> EDGE DATA SOLUTIONS, INC. NOTES TO FINANCIAL STATEMENTS As of June 30, 2022 (Unaudited) and for the Three and Six Months Then Ended (Unaudited)

</us-gaap:EarningsPerSharePolicyTextBlock>

<us-gaap:ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock contextRef="From2022-01-01to2022-06-30">

SCHEDULE OF NET INCOME (LOSS) PER SHARE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Weighted Average</td><td style="font-weight: bold"> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Net Income</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Common Shares</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Per Share</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">(Numerator)</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">(Denominator)</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Amount</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Three Months Ended June 30, 2022 (Unaudited)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Basic and Diluted (Loss) Per Common Share</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; width: 46%; text-align: left">(Loss) available to common stockholders</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98A_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_c20220401__20220630_zX4ksMRdhb5k" style="width: 14%; text-align: right" title="Net income">(3,950,107</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98C_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20220401__20220630_zp6CoSaJE8bb" style="width: 14%; text-align: right" title="Weighted average common shares">11,104,162</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98A_eus-gaap--EarningsPerShareBasic_c20220401__20220630_zYkpF33JhCBj" style="width: 14%; text-align: right" title="Earnings per share basic">(0.36</td><td style="width: 1%; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold">Six Months Ended June 30, 2022 (Unaudited)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Basic and Diluted (Loss) Per Common Share</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">(Loss) available to common stockholders</td><td> </td> <td style="text-align: left">$</td><td id="xdx_98B_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_c20220101__20220630_zW9SKgRQ8u56" style="text-align: right" title="Income available to common stockholders, Net Income">(2,740,316</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_c20220101__20220630_zSKhTH7XKxn7" style="text-align: right" title="Income available to common stockholders, Weighted Average Common Shares">10,449,520</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98A_eus-gaap--EarningsPerShareBasic_c20220101__20220630_z4ZbYVKEo2pf" style="text-align: right" title="Income available to common stockholders, Per Share Amount">(0.26</td><td style="text-align: left">)</td></tr> </table>

</us-gaap:ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock>

<us-gaap:NetIncomeLossAvailableToCommonStockholdersBasic contextRef="From2022-04-012022-06-30" decimals="0" unitRef="USD"> -3950107 </us-gaap:NetIncomeLossAvailableToCommonStockholdersBasic>

<us-gaap:WeightedAverageNumberOfSharesOutstandingBasic contextRef="From2022-04-012022-06-30" decimals="INF" unitRef="Shares"> 11104162 </us-gaap:WeightedAverageNumberOfSharesOutstandingBasic>

<us-gaap:EarningsPerShareBasic contextRef="From2022-04-012022-06-30" decimals="INF" unitRef="USDPShares"> -0.36 </us-gaap:EarningsPerShareBasic>

<us-gaap:NetIncomeLossAvailableToCommonStockholdersBasic contextRef="From2022-01-01to2022-06-30" decimals="0" unitRef="USD"> -2740316 </us-gaap:NetIncomeLossAvailableToCommonStockholdersBasic>

<us-gaap:WeightedAverageNumberOfSharesOutstandingBasic contextRef="From2022-01-01to2022-06-30" decimals="INF" unitRef="Shares"> 10449520 </us-gaap:WeightedAverageNumberOfSharesOutstandingBasic>

<us-gaap:EarningsPerShareBasic contextRef="From2022-01-01to2022-06-30" decimals="INF" unitRef="USDPShares"> -0.26 </us-gaap:EarningsPerShareBasic>

<us-gaap:IncomeTaxPolicyTextBlock contextRef="From2022-01-01to2022-06-30">

Income Taxes The Company is subject to taxation in various jurisdictions and may be subject to examination by various authorities. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets, including tax loss and credit carryforwards, and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. Deferred income tax expense represents the change during the period in the deferred tax assets and deferred tax liabilities. The components of the deferred tax assets and liabilities are individually classified as current and non-current based on their characteristics. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. The Company recognizes the amount of taxes payable or refundable for the current year and recognizes deferred tax liabilities and assets for the expected future tax consequences of events and transactions that have been recognized in the Company’s financial statements or tax returns.

</us-gaap:IncomeTaxPolicyTextBlock>

<us-gaap:SubstantialDoubtAboutGoingConcernTextBlock contextRef="From2022-01-01to2022-06-30">

NOTE 3: GOING CONCERN As shown in the accompanying financial statements as of June 30, 2022, the Company had $858,721 of cash, has incurred substantial historical operating losses, and had an accumulated deficit of $1,298,157. Furthermore, the Company’s revenue history is limited, the Company is currently not on a trajectory to meet originally anticipated revenues for 2022, and there can be no assurances of future revenues or sufficient profits to fund operations. Given these factors, the Company may require financing from outside parties, and management intends to pursue outside capital through debt and equity vehicles. There is no assurance that these efforts will materialize or be successful or sufficient to fund operations and meet obligations as they come due. The accompanying financial statements have been prepared assuming that the Company will continue as a going concern, however, the above conditions raise substantial doubt about the Company’s ability to continue as a going concern. The financial statements do not include any adjustments to reflect the possible future effect on the recoverability and classification of assets or the amounts and classifications of liabilities that may result should the Company be unable to continue as a going concern.

</us-gaap:SubstantialDoubtAboutGoingConcernTextBlock>

<us-gaap:CashAndCashEquivalentsAtCarryingValue contextRef="AsOf2022-06-30" decimals="0" unitRef="USD"> 858721 </us-gaap:CashAndCashEquivalentsAtCarryingValue>

<us-gaap:RetainedEarningsAccumulatedDeficit contextRef="AsOf2022-06-30" decimals="0" unitRef="USD"> -1298157 </us-gaap:RetainedEarningsAccumulatedDeficit>

<us-gaap:StockholdersEquityNoteDisclosureTextBlock contextRef="From2022-01-01to2022-06-30">

NOTE 4: STOCKHOLDERS’ EQUITY/(DEFICIENCY) Class A Preferred Super Majority Voting Stock The Company has designated ten million (<span id="xdx_90E_eus-gaap--PreferredStockSharesAuthorized_iI_c20220630__us-gaap--StatementClassOfStockAxis__custom--ClassASuperVotingPreferredStockMember_zToqlyt7ZLu4" title="Preferred stock shares designated">10,000,000) shares of its preferred stock, par value $<span id="xdx_906_eus-gaap--PreferredStockParOrStatedValuePerShare_iI_c20220630__us-gaap--StatementClassOfStockAxis__custom--ClassASuperVotingPreferredStockMember_zsOvYTWz35rf" title="Preferred stock, par value">0.001 as Class A Preferred Super Majority Voting Stock (“Class A”). The Class A shares have the right to vote upon matters submitted to the holders of common stock, par value $0.0001 of the Company. Class A shares have a vote equal to the number of shares of common stock of the Company which would give the holders of the Class A shares a vote equal to sixty percent (60%) of the common stock. This vote shall be exercised pro-rata by the holders of the Class A. <span id="xdx_909_ecustom--RightToRedeemableDescription_c20220101__20220630__us-gaap--StatementClassOfStockAxis__custom--ClassASuperVotingPreferredStockMember_zjVM7t6N3wdj" title="Right to redeemable description">The Company shall have the right to redeem, in its sole and absolute discretion, at any time one (1) year after the date of issuance of such Class A shares, all or any portion of the shares of Class A at a price of one cent ($0.01) per share. On October 4, 2018, the Company issued a total of <span id="xdx_906_eus-gaap--StockIssuedDuringPeriodSharesShareBasedCompensationGross_c20181003__20181004__us-gaap--StatementClassOfStockAxis__custom--ClassASuperVotingPreferredStockMember__srt--TitleOfIndividualAxis__custom--ChiefExecutiveOfficerAndPresidentMember_zdfemcWpDGLi" title="Number of stock issued for compensation, shares">7,000,000 Class A shares to its CEO and President (formerly COO) as stock-based compensation for services rendered. As of June 30, 2022, <span id="xdx_908_eus-gaap--PreferredStockSharesOutstanding_iI_c20220630__us-gaap--StatementClassOfStockAxis__custom--ClassASuperVotingPreferredStockMember_ziqcSnNok4Sf" title="Preferred stock, shares outstanding">7,000,000 shares of Class A Preferred Stock were issued and outstanding. The Company has not currently authorized a Class B designation of Preferred Stock. EDGE DATA SOLUTIONS, INC. NOTES TO FINANCIAL STATEMENTS As of June 30, 2022 (Unaudited) and for the Three and Six Months Then Ended (Unaudited) Class C Preferred Non-Voting Stock The Company has designated ten million (<span id="xdx_906_eus-gaap--PreferredStockSharesAuthorized_iI_c20220630__us-gaap--StatementClassOfStockAxis__custom--ClassCConvertiblePreferredNonVotingStockMember_z0mMsfP5Eznj" title="Preferred stock, shares authorized">10,000,000) shares of its preferred stock, par value $<span id="xdx_901_eus-gaap--PreferredStockParOrStatedValuePerShare_iI_c20220630__us-gaap--StatementClassOfStockAxis__custom--ClassCConvertiblePreferredNonVotingStockMember_zdy9bVNcJM48" title="Preferred stock, par value">0.001 as Class C Convertible Preferred Non-Voting Stock (“Class C”). As amended and filed with the State of Delaware on December 17, 2020, each share of Class C would have been convertible into one (1) share of common stock. In mid-2021, the State of Delaware rejected the December 17, 2020 amendment, as filed. On April 13, 2022, the Company elected to not adjust or re-file the amendment, resulting in the Class C Preferred shares retaining the original conversion rate of five (5) common shares per Class C share. Although the change was never deemed effective by the State of Delaware, the Company previously accrued the change on the filing date for US GAAP accounting purposes and has deemed the subsequent termination of efforts as a separate transaction solely for US GAAP accounting purposes. Therefore, for accounting purposes, the Company presented the change as a deemed dividend of $3,781,868, based on the price of recent private transactions of the Company’s common stock and adjusted for dilutive effects. The holders of Class C shall be entitled to receive the same dividend as the holders of the common stock and such dividend shall be paid pro rata per share on a fully converted basis. The holders of Class C shall have piggyback registration rights. The Company shall have the right to redeem, in its sole and absolute discretion, at any time after five (5) years, all or any portion of the shares of Class C at a price of five dollars ($<span id="xdx_90B_eus-gaap--PreferredStockRedemptionPricePerShare_iI_c20220630__us-gaap--StatementClassOfStockAxis__custom--ClassCConvertiblePreferredNonVotingStockMember_zAq1d7ds7eU2" title="Preferred stock redemption price per share">5.00) per share. The Class C shares shall be considered to have a junior liquidation preference to Class A shares and a senior dividend preference to Class A shares. On October 4, 2018, the Company issued a total of <span id="xdx_90F_eus-gaap--StockIssuedDuringPeriodSharesShareBasedCompensationGross_c20181003__20181004__us-gaap--StatementClassOfStockAxis__custom--ClassCConvertiblePreferredNonVotingStockMember__srt--TitleOfIndividualAxis__custom--ChiefExecutiveOfficerAndPresidentMember_zzz4Tee6FX9k" title="Shares based compensation gross">7,000,000 Class C shares to its CEO and President (formerly COO) as stock-based compensation for services rendered. <span id="xdx_909_eus-gaap--ConversionOfStockDescription_c20220101__20220630__us-gaap--StatementClassOfStockAxis__custom--ClassCConvertiblePreferredNonVotingStockMember__srt--TitleOfIndividualAxis__custom--ChiefExecutiveOfficerAndPresidentMember_zUrKqIyJUaT2" title="Conversion of stock description">Subsequently, in April 2019, the Company filed an amended and restated certificate of designation, which restricted the CEO and President from converting the 7,000,000 shares into common stock for 36 months from the issuance date. After October 2021, this restriction expired, and the CEO and President are free to convert these shares. As of June 30, 2022, <span id="xdx_90D_eus-gaap--PreferredStockSharesIssued_iI_c20220630__us-gaap--StatementClassOfStockAxis__custom--ClassCConvertiblePreferredNonVotingStockMember_zjv9tlqML1yc" title="Preferred stock, shares issued"><span id="xdx_90A_eus-gaap--PreferredStockSharesOutstanding_iI_c20220630__us-gaap--StatementClassOfStockAxis__custom--ClassCConvertiblePreferredNonVotingStockMember_zj6kvuzi68kf" title="Preferred stock, shares outstanding">7,000,000 shares of Class C Preferred Stock were issued and outstanding. Common Stock The Company is authorized to issue 150,000,000 shares of common stock. All common stock shares have full dividend and voting rights. However, it is not anticipated that the Company will be declaring dividends in the foreseeable future. In April 2022, the Company agreed to issue 50,000 fully vested common shares to an employee and <span id="xdx_909_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20220401__20220430__us-gaap--TypeOfArrangementAxis__custom--EmploymentAgreementMember_zMtQo5uIICud" title="Number of shares fully vested for service rendered">100,000 fully vested common shares to an advisor for services rendered. As of June 30, 2022, the Company had 11,133,832 common shares outstanding. Warrants The following table sets forth the Company’s warrant activity through June 30, 2022: SCHEDULE OF WARRANTS ACTIVITY <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Warrants</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Shares Under Warrant</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Term</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Exercise Price</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Remaining Life</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 23%">Balance, December 31, 2021</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iS_c20220101__20220630__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zBULQSX0lM3h" style="width: 11%; text-align: right" title="Beginning balance">627,862</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iS_c20220101__20220630__us-gaap--StatementEquityComponentsAxis__custom--SharesUnderWarrantMember_zd5KZff4jZH1" style="width: 11%; text-align: right" title="Beginning balance">1,255,724</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 11%; text-align: right"> </td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 11%; text-align: right"> </td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 15%; text-align: right"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-style: italic; text-align: left; padding-bottom: 1.5pt">Class B Warrants Issued as part of equity units from debt conversions – February 28, 2022</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted_c20220101__20220630__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zWXIQ5oJCrn" style="border-bottom: Black 1.5pt solid; text-align: right" title="Warrant issued with equity units of debt conversion">1,824,751</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted_c20220101__20220630__us-gaap--StatementEquityComponentsAxis__custom--SharesUnderWarrantMember_z9eXCCEEuEm8" style="border-bottom: Black 1.5pt solid; text-align: right" title="Warrant issued with equity units of debt conversion">1,824,751</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt; text-align: right">3 years</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; text-align: left">$</td><td id="xdx_98C_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercisePrice_pid_c20220101__20220630_znrfRjFsMixg" style="padding-bottom: 1.5pt; text-align: right" title="Warrant issued with equity units of debt conversion, exercise price">1.00</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: right; padding-bottom: 1.5pt"><span id="xdx_903_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsRemainingLife_dtM_c20220101__20220630_zCRAx5DSQJka" title="Warrant issued with equity units of debt conversion, remaining life">35 months</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-style: italic; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right" title="Warrant issued with equity units of debt conversion"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right" title="Warrant issued with equity units of debt conversion"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right" title="Warrant issued with equity units of debt conversion, exercise price"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Balance, June 30, 2022 (Unaudited)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iE_c20220101__20220630__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zKQ0OhCSyTaj" style="border-bottom: Black 2.5pt double; text-align: right" title="Ending balance">2,452,613</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iE_c20220101__20220630__us-gaap--StatementEquityComponentsAxis__custom--SharesUnderWarrantMember_z4ICx8KaqWW5" style="border-bottom: Black 2.5pt double; text-align: right" title="Ending balance">3,080,475</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt; text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt; text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="text-align: right; padding-bottom: 2.5pt"> </td></tr> </table> On February 28, 2022, convertible noteholders converted $<span id="xdx_901_eus-gaap--DebtConversionConvertedInstrumentAmount1_c20220226__20220228__srt--TitleOfIndividualAxis__custom--NoteholdersMember_zHwSAMDIqpVj" title="Debt conversion converted instrument amount1">638,660, consisting of $549,500 of outstanding principal and $89,160 of accrued interest, into <span id="xdx_901_eus-gaap--DebtConversionConvertedInstrumentSharesIssued1_c20220226__20220228__srt--TitleOfIndividualAxis__custom--NoteholdersMember_zfP2Px2wUUO9" title="Debt conversion converted instrument shares issued1">1,824,751 equity units, each consisting of (1) one share of the Company’s common stock and (1) Class B Warrant to purchase one share of common stock for $1.00 up to three years from the issuance date. The Company assigned a value of $<span id="xdx_90B_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1_pp0p0_c20220226__20220228_zUWf6fUg28a2" title="Payment award options vested in period fair value">456,188, based on a recent private transaction at $<span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_c20220227__20220228_z3WDqQR1n7Xa" title="Average grant date fair value">0.25 per share, to the common stock and the remaining value of $182,472 to the warrants, using the following Black-Scholes inputs: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif">Time to Maturity: <span id="xdx_902_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20220101__20220630__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zGTjPRGjFpb6" title="Tme to Maturity">3 years</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif">Risk-Free Rate: <span id="xdx_90C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum_dp_c20220101__20220630__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zB8lKEL2LfVb" title="Risk-Free Rate">1.68%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif">Volatility: <span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_dp_c20220101__20220630__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_ziCwdt0HlYB5" title="Volatility">103%</td></tr> </table> Stock Options The Company has reserved 446,054 shares for its options pool. In April 2022, the Company agreed to issue <span id="xdx_90D_eus-gaap--StockIssuedDuringPeriodSharesIssuedForServices_c20220401__20220430__srt--TitleOfIndividualAxis__custom--EmployeeMember_zQb80ZWfYZ08" title="Stock issued during period shares issued for services">200,000 options to an employee for services rendered. The options expire in <span id="xdx_904_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1_dtY_c20220401__20220430__srt--TitleOfIndividualAxis__custom--EmployeeMember_zdUvrAZS4Ezi" title="Options expire">10 years, have a strike price of $1.00, and vest ratably over 24 months, beginning in May 2022. Using the following inputs, the Company estimated the aggregate value of the grant to be $<span id="xdx_901_eus-gaap--StockIssuedDuringPeriodValueIssuedForServices_c20220401__20220430__srt--TitleOfIndividualAxis__custom--EmployeeMember_zCJT6y7Nuz8h" title="Stock issued during period value issued for services">14,211 based on the following inputs: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif">Time to Maturity: 5 years</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif">Risk-Free Rate: 2.56%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif">Volatility: 103%</td></tr> </table> The following tables set forth the Company’s options activity through June 30, 2022 and options attributes as of June 30, 2022: SCHEDULE OF OPTIONS ACTIVITY <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Outstanding, December 31, 2021</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_c20220101__20220331_zxdJzmW0bxkh" style="text-align: right" title="Beginning balance">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20220101__20220331_zCFOMsyTgvn7" style="text-align: right" title="Granted">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Exercised</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--StockIssuedDuringPeriodSharesStockOptionsExercised_c20220101__20220331_znMvlDjfIrsc" style="text-align: right" title="Exercised">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt">Forfeited</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_c20220101__20220331_z7l1BQ4GBqB5" style="border-bottom: Black 1.5pt solid; text-align: right" title="Forfeited">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Outstanding, March 31, 2022 (unaudited)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_c20220401__20220630_zQWHpzlMk41h" style="text-align: right" title="Beginning balance">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 78%">Granted</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20220401__20220630_zYkKlK9AHabi" style="width: 18%; text-align: right" title="Granted">200,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Exercised</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--StockIssuedDuringPeriodSharesStockOptionsExercised_c20220401__20220630_zIhE0wjz1Bl9" style="text-align: right" title="Exercised">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt">Forfeited</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_c20220401__20220630_ze7tf2E44udd" style="border-bottom: Black 1.5pt solid; text-align: right" title="Forfeited">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Outstanding, June 30, 2022 (unaudited)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_c20220401__20220630_zq5S90t8vedk" style="border-bottom: Black 2.5pt double; text-align: right" title="Ending balance">200,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">As of</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">June 30, 2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-style: italic"> </td> <td colspan="2" style="font-style: italic; text-align: center">(Unaudited)</td><td style="font-style: italic"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 78%; text-align: left">Weighted average contractual remaining term – options outstanding (years)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98B_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20220101__20220630_z4EO7P4nwKh6" style="width: 18%; text-align: right" title="Weighted average contractual remaining term - options outstanding (years)">9.8</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Aggregate intrinsic value – options outstanding</td><td> </td> <td style="text-align: left">$</td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iI_c20220630_zeOgDNB7koQl" style="text-align: right" title="Aggregate intrinsic value - options outstanding">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Options exercisable</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iI_c20220630_z4AIfuw3Ebj8" style="text-align: right" title="Options exercisable">16,667</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Aggregate intrinsic value – options exercisable</td><td> </td> <td style="text-align: left">$</td><td id="xdx_98C_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1_iI_c20220630_zKmJDkO0otg1" style="text-align: right" title="Aggregate intrinsic value - options exercisable">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Weighted average contractual remaining term – options exercisable</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_dtY_c20220101__20220630_zMika5UYSpAf" style="text-align: right" title="Weighted average contractual remaining term - options exercisable">9.8</td><td style="text-align: left"> </td></tr> </table>

</us-gaap:StockholdersEquityNoteDisclosureTextBlock>

<us-gaap:CommonStockParOrStatedValuePerShare contextRef="AsOf2022-06-30" decimals="INF" unitRef="USDPShares"> 0.0001 </us-gaap:CommonStockParOrStatedValuePerShare>

<us-gaap:CommonStockVotingRights contextRef="From2022-01-012022-06-30_custom_ClassASuperVotingPreferredStockMember"> Class A shares have a vote equal to the number of shares of common stock of the Company which would give the holders of the Class A shares a vote equal to sixty percent (60%) of the common stock </us-gaap:CommonStockVotingRights>

<EDGS:RightToRedeemableDescription contextRef="From2022-01-012022-06-30_custom_ClassASuperVotingPreferredStockMember"> The Company shall have the right to redeem, in its sole and absolute discretion, at any time one (1) year after the date of issuance of such Class A shares, all or any portion of the shares of Class A at a price of one cent ($0.01) per share </EDGS:RightToRedeemableDescription>

<us-gaap:StockIssuedDuringPeriodSharesShareBasedCompensationGross contextRef="From2018-10-032018-10-04_custom_ClassASuperVotingPreferredStockMember_custom_ChiefExecutiveOfficerAndPresidentMember" decimals="INF" unitRef="Shares"> 7000000 </us-gaap:StockIssuedDuringPeriodSharesShareBasedCompensationGross>

<us-gaap:PreferredStockSharesIssued contextRef="AsOf2022-06-30_custom_ClassASuperVotingPreferredStockMember" decimals="INF" unitRef="Shares"> 7000000 </us-gaap:PreferredStockSharesIssued>

<us-gaap:PreferredStockRedemptionPricePerShare contextRef="AsOf2022-06-30_custom_ClassCConvertiblePreferredNonVotingStockMember" decimals="INF" unitRef="USDPShares"> 5.00 </us-gaap:PreferredStockRedemptionPricePerShare>

<us-gaap:StockIssuedDuringPeriodSharesShareBasedCompensationGross contextRef="From2018-10-032018-10-04_custom_ClassCConvertiblePreferredNonVotingStockMember_custom_ChiefExecutiveOfficerAndPresidentMember" decimals="INF" unitRef="Shares"> 7000000 </us-gaap:StockIssuedDuringPeriodSharesShareBasedCompensationGross>

<us-gaap:ConversionOfStockDescription contextRef="From2022-01-012022-06-30_custom_ClassCConvertiblePreferredNonVotingStockMember_custom_ChiefExecutiveOfficerAndPresidentMember"> Subsequently, in April 2019, the Company filed an amended and restated certificate of designation, which restricted the CEO and President from converting the 7,000,000 shares into common stock for 36 months from the issuance date </us-gaap:ConversionOfStockDescription>

<us-gaap:CommonStockSharesAuthorized contextRef="AsOf2022-06-30" decimals="INF" unitRef="Shares"> 150000000 </us-gaap:CommonStockSharesAuthorized>

<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber contextRef="AsOf2022-04-30" decimals="INF" unitRef="Shares"> 50000 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber>

<us-gaap:StockIssuedDuringPeriodSharesNewIssues contextRef="From2022-04-012022-04-30_custom_EmploymentAgreementMember" decimals="INF" unitRef="Shares"> 100000 </us-gaap:StockIssuedDuringPeriodSharesNewIssues>

<us-gaap:CommonStockSharesOutstanding contextRef="AsOf2022-06-30" decimals="INF" unitRef="Shares"> 11133832 </us-gaap:CommonStockSharesOutstanding>

<us-gaap:ScheduleOfStockholdersEquityNoteWarrantsOrRightsTextBlock contextRef="From2022-01-01to2022-06-30">

The following table sets forth the Company’s warrant activity through June 30, 2022: SCHEDULE OF WARRANTS ACTIVITY <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Warrants</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Shares Under Warrant</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Term</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Exercise Price</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Remaining Life</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 23%">Balance, December 31, 2021</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iS_c20220101__20220630__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zBULQSX0lM3h" style="width: 11%; text-align: right" title="Beginning balance">627,862</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iS_c20220101__20220630__us-gaap--StatementEquityComponentsAxis__custom--SharesUnderWarrantMember_zd5KZff4jZH1" style="width: 11%; text-align: right" title="Beginning balance">1,255,724</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 11%; text-align: right"> </td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 11%; text-align: right"> </td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 15%; text-align: right"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-style: italic; text-align: left; padding-bottom: 1.5pt">Class B Warrants Issued as part of equity units from debt conversions – February 28, 2022</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted_c20220101__20220630__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zWXIQ5oJCrn" style="border-bottom: Black 1.5pt solid; text-align: right" title="Warrant issued with equity units of debt conversion">1,824,751</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted_c20220101__20220630__us-gaap--StatementEquityComponentsAxis__custom--SharesUnderWarrantMember_z9eXCCEEuEm8" style="border-bottom: Black 1.5pt solid; text-align: right" title="Warrant issued with equity units of debt conversion">1,824,751</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt; text-align: right">3 years</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt; text-align: left">$</td><td id="xdx_98C_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercisePrice_pid_c20220101__20220630_znrfRjFsMixg" style="padding-bottom: 1.5pt; text-align: right" title="Warrant issued with equity units of debt conversion, exercise price">1.00</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: right; padding-bottom: 1.5pt"><span id="xdx_903_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsRemainingLife_dtM_c20220101__20220630_zCRAx5DSQJka" title="Warrant issued with equity units of debt conversion, remaining life">35 months</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-style: italic; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right" title="Warrant issued with equity units of debt conversion"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right" title="Warrant issued with equity units of debt conversion"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right" title="Warrant issued with equity units of debt conversion, exercise price"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Balance, June 30, 2022 (Unaudited)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iE_c20220101__20220630__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zKQ0OhCSyTaj" style="border-bottom: Black 2.5pt double; text-align: right" title="Ending balance">2,452,613</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iE_c20220101__20220630__us-gaap--StatementEquityComponentsAxis__custom--SharesUnderWarrantMember_z4ICx8KaqWW5" style="border-bottom: Black 2.5pt double; text-align: right" title="Ending balance">3,080,475</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt; text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt; text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="text-align: right; padding-bottom: 2.5pt"> </td></tr> </table>

</us-gaap:ScheduleOfStockholdersEquityNoteWarrantsOrRightsTextBlock>

<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber contextRef="AsOf2021-12-31_us-gaap_WarrantMember" decimals="INF" unitRef="Shares"> 627862 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber>

<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber contextRef="AsOf2021-12-31_custom_SharesUnderWarrantMember" decimals="INF" unitRef="Shares"> 1255724 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber>

<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted contextRef="From2022-01-012022-06-30_us-gaap_WarrantMember" decimals="INF" unitRef="Shares"> 1824751 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted>

<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted contextRef="From2022-01-012022-06-30_custom_SharesUnderWarrantMember" decimals="INF" unitRef="Shares"> 1824751 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted>

<EDGS:WarrantIssuedWithEquityUnitsTerms contextRef="From2022-01-01to2022-06-30"> P3Y </EDGS:WarrantIssuedWithEquityUnitsTerms>

<EDGS:ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercisePrice contextRef="From2022-01-01to2022-06-30" decimals="INF" unitRef="USDPShares"> 1.00 </EDGS:ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercisePrice>

<EDGS:ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsRemainingLife contextRef="From2022-01-01to2022-06-30"> P35M </EDGS:ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsRemainingLife>

<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber contextRef="AsOf2022-06-30_us-gaap_WarrantMember" decimals="INF" unitRef="Shares"> 2452613 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber>

<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber contextRef="AsOf2022-06-30_custom_SharesUnderWarrantMember" decimals="INF" unitRef="Shares"> 3080475 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber>

<us-gaap:DebtConversionConvertedInstrumentAmount1 contextRef="From2022-02-262022-02-28_custom_NoteholdersMember" decimals="0" unitRef="USD"> 638660 </us-gaap:DebtConversionConvertedInstrumentAmount1>

<us-gaap:DebtInstrumentFaceAmount contextRef="AsOf2022-02-28_custom_NoteholdersMember" decimals="0" unitRef="USD"> 549500 </us-gaap:DebtInstrumentFaceAmount>

<us-gaap:InterestPayableCurrent contextRef="AsOf2022-02-28_custom_NoteholdersMember" decimals="0" unitRef="USD"> 89160 </us-gaap:InterestPayableCurrent>

<us-gaap:DebtConversionConvertedInstrumentSharesIssued1 contextRef="From2022-02-262022-02-28_custom_NoteholdersMember" decimals="INF" unitRef="Shares"> 1824751 </us-gaap:DebtConversionConvertedInstrumentSharesIssued1>

<us-gaap:ConversionOfStockDescription contextRef="From2022-02-262022-02-28_custom_NoteholdersMember"> each consisting of (1) one share of the Company’s common stock and (1) Class B Warrant to purchase one share of common stock for $1.00 up to three years from the issuance date </us-gaap:ConversionOfStockDescription>

<us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1 contextRef="From2022-02-262022-02-28" decimals="0" unitRef="USD"> 456188 </us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1>

<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue contextRef="From2022-02-272022-02-28" decimals="INF" unitRef="USDPShares"> 0.25 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue>

<us-gaap:ClassOfWarrantOrRightOutstanding contextRef="AsOf2022-02-28" decimals="INF" unitRef="Shares"> 182472 </us-gaap:ClassOfWarrantOrRightOutstanding>

<us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1 contextRef="From2022-01-012022-06-30_us-gaap_WarrantMember"> P3Y </us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1>

<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum contextRef="From2022-01-012022-06-30_us-gaap_WarrantMember" decimals="INF" unitRef="Pure"> 0.0168 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum>

<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate contextRef="From2022-01-012022-06-30_us-gaap_WarrantMember" decimals="INF" unitRef="Pure"> 1.03 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate>

<EDGS:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsReservedShares contextRef="From2022-01-01to2022-06-30" decimals="INF" unitRef="Shares"> 446054 </EDGS:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsReservedShares>

<us-gaap:StockIssuedDuringPeriodSharesIssuedForServices contextRef="From2022-04-012022-04-30_custom_EmployeeMember" decimals="INF" unitRef="Shares"> 200000 </us-gaap:StockIssuedDuringPeriodSharesIssuedForServices>

<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1 contextRef="From2022-04-012022-04-30_custom_EmployeeMember"> P10Y </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1>

<us-gaap:SharePrice contextRef="AsOf2022-04-30_custom_EmployeeMember" decimals="INF" unitRef="USDPShares"> 1.00 </us-gaap:SharePrice>

<us-gaap:StockIssuedDuringPeriodValueIssuedForServices contextRef="From2022-04-012022-04-30_custom_EmployeeMember" decimals="0" unitRef="USD"> 14211 </us-gaap:StockIssuedDuringPeriodValueIssuedForServices>

<us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1 contextRef="From2022-01-01to2022-06-30"> P5Y </us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1>

<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum contextRef="From2022-01-01to2022-06-30" decimals="INF" unitRef="Pure"> 0.0256 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum>

<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate contextRef="From2022-01-01to2022-06-30" decimals="INF" unitRef="Pure"> 1.03 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate>

<us-gaap:DisclosureOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTextBlock contextRef="From2022-01-01to2022-06-30">

The following tables set forth the Company’s options activity through June 30, 2022 and options attributes as of June 30, 2022: SCHEDULE OF OPTIONS ACTIVITY <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Outstanding, December 31, 2021</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_c20220101__20220331_zxdJzmW0bxkh" style="text-align: right" title="Beginning balance">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20220101__20220331_zCFOMsyTgvn7" style="text-align: right" title="Granted">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Exercised</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--StockIssuedDuringPeriodSharesStockOptionsExercised_c20220101__20220331_znMvlDjfIrsc" style="text-align: right" title="Exercised">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt">Forfeited</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_c20220101__20220331_z7l1BQ4GBqB5" style="border-bottom: Black 1.5pt solid; text-align: right" title="Forfeited">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Outstanding, March 31, 2022 (unaudited)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_c20220401__20220630_zQWHpzlMk41h" style="text-align: right" title="Beginning balance">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 78%">Granted</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20220401__20220630_zYkKlK9AHabi" style="width: 18%; text-align: right" title="Granted">200,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Exercised</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--StockIssuedDuringPeriodSharesStockOptionsExercised_c20220401__20220630_zIhE0wjz1Bl9" style="text-align: right" title="Exercised">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1.5pt">Forfeited</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_c20220401__20220630_ze7tf2E44udd" style="border-bottom: Black 1.5pt solid; text-align: right" title="Forfeited">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Outstanding, June 30, 2022 (unaudited)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_c20220401__20220630_zq5S90t8vedk" style="border-bottom: Black 2.5pt double; text-align: right" title="Ending balance">200,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">As of</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">June 30, 2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-style: italic"> </td> <td colspan="2" style="font-style: italic; text-align: center">(Unaudited)</td><td style="font-style: italic"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 78%; text-align: left">Weighted average contractual remaining term – options outstanding (years)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98B_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20220101__20220630_z4EO7P4nwKh6" style="width: 18%; text-align: right" title="Weighted average contractual remaining term - options outstanding (years)">9.8</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Aggregate intrinsic value – options outstanding</td><td> </td> <td style="text-align: left">$</td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iI_c20220630_zeOgDNB7koQl" style="text-align: right" title="Aggregate intrinsic value - options outstanding">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Options exercisable</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iI_c20220630_z4AIfuw3Ebj8" style="text-align: right" title="Options exercisable">16,667</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Aggregate intrinsic value – options exercisable</td><td> </td> <td style="text-align: left">$</td><td id="xdx_98C_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1_iI_c20220630_zKmJDkO0otg1" style="text-align: right" title="Aggregate intrinsic value - options exercisable">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Weighted average contractual remaining term – options exercisable</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_dtY_c20220101__20220630_zMika5UYSpAf" style="text-align: right" title="Weighted average contractual remaining term - options exercisable">9.8</td><td style="text-align: left"> </td></tr> </table>

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<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross contextRef="From2022-04-012022-06-30" decimals="INF" unitRef="Shares"> 200000 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross>

<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber contextRef="AsOf2022-06-30" decimals="INF" unitRef="Shares"> 200000 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber>

<us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2 contextRef="From2022-01-01to2022-06-30"> P9Y9M18D </us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2>

<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber contextRef="AsOf2022-06-30" decimals="INF" unitRef="Shares"> 16667 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber>

<us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1 contextRef="From2022-01-01to2022-06-30"> P9Y9M18D </us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1>

<us-gaap:RelatedPartyTransactionsDisclosureTextBlock contextRef="From2022-01-01to2022-06-30">

NOTE 5: RELATED PARTY TRANSACTIONS During the three and six months ended June 30, 2022, the Company recognized compensation expense totaling <span id="xdx_90A_eus-gaap--CompensationExpenseExcludingCostOfGoodAndServiceSold_c20220401__20220630__srt--TitleOfIndividualAxis__srt--ChiefExecutiveOfficerMember_zVWEwzXOCzb8" title="Cost of good and service sold">$96,250 and <span id="xdx_906_eus-gaap--CompensationExpenseExcludingCostOfGoodAndServiceSold_c20220101__20220630__srt--TitleOfIndividualAxis__srt--ChiefExecutiveOfficerMember_zIqmlfZom1Pe" title="Cost of good and service sold">$382,500 to its CEO, $77,500 and $383,001 to its President, $34,500 and <span id="xdx_90B_eus-gaap--CompensationExpenseExcludingCostOfGoodAndServiceSold_c20220101__20220630__us-gaap--TypeOfArrangementAxis__custom--SynergiaCPALLCMember_zj1Ht44jcvLg" title="Cost of good and service sold">$66,500 to Synergia CPA, LLC and <span id="xdx_90B_eus-gaap--CompensationExpenseExcludingCostOfGoodAndServiceSold_c20220401__20220630__us-gaap--TypeOfArrangementAxis__custom--SynergiaTechnologyServicesLLCMember_zzxgfxzOSbVl" title="Cost of good and service sold">$3,000 and $6,000 to Synergia Technology Services, LLC, both entities fully owned and controlled by the CFO, for contract CFO and various accounting and IT services furnished to EDGE. During the six months ended June 30, 2022, the Company’s CEO, President and CFO paid expenses on behalf of the Company totaling $63,546, $22,275 and $13,077, and the Company repaid $66,704, $31,085 and $14,373 of related party advances, including previous amounts advanced to the company, all respectively. Of amounts repaid, <span id="xdx_907_eus-gaap--RepaymentsOfRelatedPartyDebt_pp0p0_c20220401__20220630__us-gaap--TypeOfArrangementAxis__custom--SynergiaTechnologyServicesLLCMember_zTTtVDP6ns55" title="Repayments of related party debt">$1,297 pertained to accounts payable due to Synergia Technology Services, LLC. As of June 30, 2022, the Company was indebted to the CEO for <span id="xdx_900_eus-gaap--AccruedProfessionalFeesCurrentAndNoncurrent_iI_pp0p0_c20220630__srt--TitleOfIndividualAxis__srt--ChiefExecutiveOfficerMember_z4AcvjZU0j6e" title="Accrued professional fees current and noncurrent">$0, the President for <span id="xdx_903_eus-gaap--AccruedProfessionalFeesCurrentAndNoncurrent_iI_pp0p0_c20220630__srt--TitleOfIndividualAxis__srt--PresidentMember_zHHhI19Qlnr7" title="Accrued professional fees current and noncurrent">$0 and the CFO for <span id="xdx_900_eus-gaap--AccruedProfessionalFeesCurrentAndNoncurrent_iI_pp0p0_c20220630__srt--TitleOfIndividualAxis__srt--ChiefFinancialOfficerMember_zdMuxAwIeJLc" title="Accrued professional fees current and noncurrent">$0, all respectively, for expenses paid on behalf of the company. As of June 30, 2022, the Company did not owe accrued compensation to the CEO, President and CFO. EDGE DATA SOLUTIONS, INC. NOTES TO FINANCIAL STATEMENTS As of June 30, 2022 (Unaudited) and for the Three and Six Months Then Ended (Unaudited)

</us-gaap:RelatedPartyTransactionsDisclosureTextBlock>

<us-gaap:CompensationExpenseExcludingCostOfGoodAndServiceSold contextRef="From2022-04-012022-06-30_srt_ChiefExecutiveOfficerMember" decimals="0" unitRef="USD"> 96250 </us-gaap:CompensationExpenseExcludingCostOfGoodAndServiceSold>

<us-gaap:CompensationExpenseExcludingCostOfGoodAndServiceSold contextRef="From2022-01-012022-06-30_srt_ChiefExecutiveOfficerMember" decimals="0" unitRef="USD"> 382500 </us-gaap:CompensationExpenseExcludingCostOfGoodAndServiceSold>

<us-gaap:CompensationExpenseExcludingCostOfGoodAndServiceSold contextRef="From2022-04-012022-06-30_srt_PresidentMember" decimals="0" unitRef="USD"> 77500 </us-gaap:CompensationExpenseExcludingCostOfGoodAndServiceSold>

<us-gaap:CompensationExpenseExcludingCostOfGoodAndServiceSold contextRef="From2022-01-012022-06-30_srt_PresidentMember" decimals="0" unitRef="USD"> 383001 </us-gaap:CompensationExpenseExcludingCostOfGoodAndServiceSold>

<us-gaap:CompensationExpenseExcludingCostOfGoodAndServiceSold contextRef="From2022-04-012022-06-30_custom_SynergiaCPALLCMember" decimals="0" unitRef="USD"> 34500 </us-gaap:CompensationExpenseExcludingCostOfGoodAndServiceSold>

<us-gaap:CompensationExpenseExcludingCostOfGoodAndServiceSold contextRef="From2022-01-012022-06-30_custom_SynergiaCPALLCMember" decimals="0" unitRef="USD"> 66500 </us-gaap:CompensationExpenseExcludingCostOfGoodAndServiceSold>

<us-gaap:CompensationExpenseExcludingCostOfGoodAndServiceSold contextRef="From2022-04-012022-06-30_custom_SynergiaTechnologyServicesLLCMember" decimals="0" unitRef="USD"> 3000 </us-gaap:CompensationExpenseExcludingCostOfGoodAndServiceSold>

<us-gaap:CompensationExpenseExcludingCostOfGoodAndServiceSold contextRef="From2022-01-012022-06-30_custom_SynergiaTechnologyServicesLLCMember" decimals="0" unitRef="USD"> 6000 </us-gaap:CompensationExpenseExcludingCostOfGoodAndServiceSold>

<us-gaap:ProceedsFromRelatedPartyDebt contextRef="From2022-04-012022-06-30_srt_PresidentMember" decimals="0" unitRef="USD"> 22275 </us-gaap:ProceedsFromRelatedPartyDebt>

<us-gaap:RepaymentsOfRelatedPartyDebt contextRef="From2022-04-012022-06-30_srt_PresidentMember" decimals="0" unitRef="USD"> 31085 </us-gaap:RepaymentsOfRelatedPartyDebt>

<us-gaap:RepaymentsOfRelatedPartyDebt contextRef="From2022-04-012022-06-30_srt_ChiefFinancialOfficerMember" decimals="0" unitRef="USD"> 14373 </us-gaap:RepaymentsOfRelatedPartyDebt>

<us-gaap:RepaymentsOfRelatedPartyDebt contextRef="From2022-04-012022-06-30_custom_SynergiaTechnologyServicesLLCMember" decimals="0" unitRef="USD"> 1297 </us-gaap:RepaymentsOfRelatedPartyDebt>

<us-gaap:AccruedProfessionalFeesCurrentAndNoncurrent contextRef="AsOf2022-06-30_srt_PresidentMember" decimals="0" unitRef="USD"> 0 </us-gaap:AccruedProfessionalFeesCurrentAndNoncurrent>

<us-gaap:DebtDisclosureTextBlock contextRef="From2022-01-01to2022-06-30">

NOTE 6: CONVERTIBLE NOTES On February 15, 2022, the Company repaid the entire outstanding balance of $118,725 on a convertible note, consisting of $100,000 original principal and $18,725 of accrued interest. On February 28, 2022, convertible debtholders converted a total of $638,660, consisting of $549,500 of amended principal and $89,160 of accrued interest, into 1,824,751 equity units at a rate of $0.35 per unit. Each unit consists of one (1) share of Common Stock and one (1) Class B Warrant. Holders of Class B Warrants are entitled to purchase one (1) share of Common Stock at a strike price of $1.00 within three years of the issuance date. The Company evaluated the convertible notes in light of ASC 470 and determined that a beneficial conversion feature exists. However, given the contingent nature of the holder’s option and the lack of a market for the Company’s stock, the Company concluded that such a feature is not currently ascertainable and allocated the full principal amount to the convertible note liability. As of June 30, 2022 and December 31, 2021, the Company owed $100,000 and $749,500 in outstanding principal on convertible notes, respectively. The Company is currently in default on the $100,000 note, but it is working with the noteholder to resolve the default. During the three and six months ended June 30, 2022, the Company recognized $3,740 and $23,740 of interest expense on convertible debt, respectively. As of June 30, 2022 and December 31, 2021, outstanding accrued interest on convertible debt totaled $35,303 and $149,389, respectively.

</us-gaap:DebtDisclosureTextBlock>

<us-gaap:RepaymentsOfDebt contextRef="From2022-02-142022-02-15" decimals="0" unitRef="USD"> 118725 </us-gaap:RepaymentsOfDebt>

<us-gaap:DebtInstrumentFaceAmount contextRef="AsOf2022-02-15" decimals="0" unitRef="USD"> 100000 </us-gaap:DebtInstrumentFaceAmount>

<us-gaap:InterestPayableCurrent contextRef="AsOf2022-02-15" decimals="0" unitRef="USD"> 18725 </us-gaap:InterestPayableCurrent>

<us-gaap:DebtInstrumentFaceAmount contextRef="AsOf2022-02-28_custom_NoteholdersMember" decimals="0" unitRef="USD"> 549500 </us-gaap:DebtInstrumentFaceAmount>

<us-gaap:InterestPayableCurrent contextRef="AsOf2022-02-28_custom_NoteholdersMember" decimals="0" unitRef="USD"> 89160 </us-gaap:InterestPayableCurrent>

<us-gaap:DebtInstrumentConvertibleConversionPrice1 contextRef="AsOf2022-02-28_custom_NoteholdersMember" decimals="INF" unitRef="USDPShares"> 0.35 </us-gaap:DebtInstrumentConvertibleConversionPrice1>

<us-gaap:DebtConversionDescription contextRef="From2022-02-262022-02-28_custom_NoteholdersMember"> Each unit consists of one (1) share of Common Stock and one (1) Class B Warrant. Holders of Class B Warrants are entitled to purchase one (1) share of Common Stock at a strike price of $1.00 within three years of the issuance date </us-gaap:DebtConversionDescription>

<us-gaap:ConvertibleNotesPayable contextRef="AsOf2022-06-30_us-gaap_ConvertibleDebtMember" decimals="0" unitRef="USD"> 100000 </us-gaap:ConvertibleNotesPayable>

<us-gaap:ConvertibleNotesPayable contextRef="AsOf2021-12-31_us-gaap_ConvertibleDebtMember" decimals="0" unitRef="USD"> 749500 </us-gaap:ConvertibleNotesPayable>

<us-gaap:DebtDefaultLongtermDebtAmount contextRef="AsOf2022-06-30_us-gaap_ConvertibleDebtMember" decimals="0" unitRef="USD"> 100000 </us-gaap:DebtDefaultLongtermDebtAmount>

<us-gaap:InterestExpenseDebt contextRef="From2022-04-012022-06-30_us-gaap_ConvertibleDebtMember" decimals="0" unitRef="USD"> 3740 </us-gaap:InterestExpenseDebt>

<us-gaap:InterestExpenseDebt contextRef="From2022-01-012022-06-30_us-gaap_ConvertibleDebtMember" decimals="0" unitRef="USD"> 23740 </us-gaap:InterestExpenseDebt>

<us-gaap:InterestPayableCurrent contextRef="AsOf2022-06-30_us-gaap_ConvertibleDebtMember" decimals="0" unitRef="USD"> 35303 </us-gaap:InterestPayableCurrent>

<us-gaap:InterestPayableCurrent contextRef="AsOf2021-12-31_us-gaap_ConvertibleDebtMember" decimals="0" unitRef="USD"> 149389 </us-gaap:InterestPayableCurrent>

<us-gaap:CommitmentsAndContingenciesDisclosureTextBlock contextRef="From2022-01-01to2022-06-30">

NOTE 7: CONCENTRATIONS, COMMITMENTS AND CONTINGENCIES During the three months ended June 30, 2022, the following customer concentrations existed in the Company’s data center solutions revenues: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Customer A: <span id="xdx_901_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20220401__20220630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--RevenueFromContractWithCustomerMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerAMember_zCGcCgSvdtR" title="Concentration risk percentage1">83%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Customer B: <span id="xdx_90F_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20220401__20220630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--RevenueFromContractWithCustomerMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerBMember_zTGecG0dSvq" title="Concentration risk percentage1">16%</td></tr> </table> During the three months ended June 30, 2022, the following vendors represented significant concentrations in the Company’s costs of data center solutions provided to customers: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Vendor A: <span id="xdx_909_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20220401__20220630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfGoodsTotalMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__srt--MajorCustomersAxis__custom--VendorAMember_zYtDfXJGrzxb" title="Concentration risk percentage1">43%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Vendor B: <span id="xdx_902_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20220401__20220630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfGoodsTotalMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__srt--MajorCustomersAxis__custom--VendorBMember_z0AcSzzha7h1" title="Concentration risk percentage1">38%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Vendor C: <span id="xdx_905_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20220401__20220630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfGoodsTotalMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__srt--MajorCustomersAxis__custom--VendorCMember_zcrAYIqj6J4" title="Concentration risk percentage1">16%</td></tr> </table> The loss of or disruption to the Company’s relationships with these customers or vendors may be detrimental to the Company’s operations. As of the date of this filing, the Company has terminated its relationship with Midas Green Technologies, LLC (Vendor A on the preceding table), a major supplier of its immersion cooling tanks. While the Company has engaged a new manufacturer for its new tank line, unforeseen circumstances, such as materials availability, manufacturing issues or otherwise may hinder the Company’s ability to sell and deliver products to its customers, which may result in lost revenues and other losses. Furthermore, the Company may sustain legal costs in the event legal action arises from the termination. Management has determined that no other significant concentrations, commitments, or contingencies existed as of June 30, 2022. EDGE DATA SOLUTIONS, INC. NOTES TO FINANCIAL STATEMENTS As of June 30, 2022 (Unaudited) and for the Three and Six Months Then Ended (Unaudited)

</us-gaap:CommitmentsAndContingenciesDisclosureTextBlock>

<us-gaap:ConcentrationRiskPercentage1 contextRef="From2022-04-012022-06-30_us-gaap_RevenueFromContractWithCustomerMember_us-gaap_CustomerConcentrationRiskMember_custom_CustomerAMember" decimals="INF" unitRef="Pure"> 0.83 </us-gaap:ConcentrationRiskPercentage1>

<us-gaap:ConcentrationRiskPercentage1 contextRef="From2022-04-012022-06-30_us-gaap_RevenueFromContractWithCustomerMember_us-gaap_CustomerConcentrationRiskMember_custom_CustomerBMember" decimals="INF" unitRef="Pure"> 0.16 </us-gaap:ConcentrationRiskPercentage1>

<us-gaap:ConcentrationRiskPercentage1 contextRef="From2022-04-012022-06-30_us-gaap_CostOfGoodsTotalMember_us-gaap_SupplierConcentrationRiskMember_custom_VendorAMember" decimals="INF" unitRef="Pure"> 0.43 </us-gaap:ConcentrationRiskPercentage1>

<us-gaap:ConcentrationRiskPercentage1 contextRef="From2022-04-012022-06-30_us-gaap_CostOfGoodsTotalMember_us-gaap_SupplierConcentrationRiskMember_custom_VendorBMember" decimals="INF" unitRef="Pure"> 0.38 </us-gaap:ConcentrationRiskPercentage1>

<us-gaap:ConcentrationRiskPercentage1 contextRef="From2022-04-012022-06-30_us-gaap_CostOfGoodsTotalMember_us-gaap_SupplierConcentrationRiskMember_custom_VendorCMember" decimals="INF" unitRef="Pure"> 0.16 </us-gaap:ConcentrationRiskPercentage1>

<us-gaap:LesseeFinanceLeasesTextBlock contextRef="From2022-01-01to2022-06-30">

NOTE 8: FINANCE LEASE On March 27, 2020, the Company entered into a 36-month lease for data center equipment. Terms of the lease call for 36 monthly payments of $1,292, with the first payment due at inception, together with a $7,753 security deposit, $3,140 of sales tax and a $500 origination fee, for a total of $12,685 due up front. The Company paid the $12,685 on March 27, 2020. The Company evaluated the lease in light of ASC 842 and determined that it was a long-term finance lease, since (a) the lease term is for the major part of the remaining economic life of the underlying asset and (b) the present value of the sum of lease payments equals or substantially exceeds the fair value of the underlying asset. At lease inception, the Company recognized a right of use asset for $38,895, prepaid tax of $3,140 and a lease liability of $38,895. The Company will ratably amortize the right of use asset and prepaid tax to lease expense over the lease’s life. Based on the present value, term and payment schedule, the Company determined the lease’s implicit rate to be 12.55% and will record interest expense accordingly over the life of the lease. During the three months ended June 30, 2022, the Company paid a total of $3,876, including $3,485 of principal and $391 of interest, to the lessor and recognized $3,241 of lease expense for the three months ended June 30, 2022. As of June 30, 2022, lease-related assets and liabilities consisted of: SCHEDULE OF LEASE RELATED ASSETS AND LIABILITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Assets</td><td> </td> <td style="text-align: left"> </td><td id="xdx_492_20220630_zBvnIvDXqKAl" style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--PrepaidExpenseNoncurrent_iI_pp0p0_maLAzs7c_zY73STszjLs5" style="vertical-align: bottom; background-color: White"> <td style="width: 76%; text-align: left">Prepaid expense</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 20%; text-align: right">785</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--FinanceLeaseRightOfUseAsset_iI_pp0p0_maLAzs7c_zr5cmkmeb6Ef" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Right of use asset – finance lease</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9,724</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--SecurityDeposit_iI_pp0p0_maLAzs7c_zZ8B5IsvcvW9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Security deposit</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">7,753</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--LeaserelatedAssets_iTI_pp0p0_mtLAzs7c_z6xtryTfQc88" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total lease-related assets</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">18,262</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--FinanceLeaseLiabilityCurrent_iI_pp0p0_maFLLzIIE_zNSJHfdLKrk5" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Lease liability – finance, current portion</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">9,883</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--FinanceLeaseLiabilityNoncurrent_iI_pp0p0_maFLLzIIE_zSnLpYZfpTSl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Lease liability – finance, non-current portion</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_408_ecustom--FinanceLeaseLiabilities_iTI_pp0p0_mtFLLzIIE_zuvEq8z8517i" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total lease-related liabilities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">9,883</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Future maturities of the lease liability are as follows: SCHEDULE OF MATURITIES OF LEASE LIABILITY <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_49C_20220630_zTDLdsq36fb9" style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear_iI_pp0p0_maFLLPDzNpw_zyunmZpJqf83" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: justify">2022 (Q2-Q4)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 20%; text-align: right">7,340</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--FinanceLeaseLiabilityPaymentsDueNextTwelveMonths_iI_pp0p0_maFLLPDzNpw_zVjziXjNe9T4" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1.5pt">2023</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,543</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--FinanceLeaseLiabilityPaymentsDue_iTI_pp0p0_mtFLLPDzNpw_ziOEAcv1iIA7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt">Total future maturities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">9,883</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> EDGE DATA SOLUTIONS, INC. NOTES TO FINANCIAL STATEMENTS As of June 30, 2022 (Unaudited) and for the Three and Six Months Then Ended (Unaudited)

</us-gaap:LesseeFinanceLeasesTextBlock>

<us-gaap:LesseeFinanceLeaseTermOfContract1 contextRef="AsOf2020-03-27_custom_WithThirtySixMonthlyPaymentsMember"> P36M </us-gaap:LesseeFinanceLeaseTermOfContract1>

<us-gaap:PaymentsForRent contextRef="From2020-03-262020-03-27_custom_WithThirtySixMonthlyPaymentsMember" decimals="0" unitRef="USD"> 1292 </us-gaap:PaymentsForRent>

<us-gaap:SecurityDeposit contextRef="AsOf2020-03-27_custom_WithThirtySixMonthlyPaymentsMember" decimals="0" unitRef="USD"> 7753 </us-gaap:SecurityDeposit>

<us-gaap:SalesAndExciseTaxPayableCurrentAndNoncurrent contextRef="AsOf2020-03-27_custom_WithThirtySixMonthlyPaymentsMember" decimals="0" unitRef="USD"> 3140 </us-gaap:SalesAndExciseTaxPayableCurrentAndNoncurrent>

<EDGS:OriginationFee contextRef="AsOf2020-03-27_custom_WithThirtySixMonthlyPaymentsMember" decimals="0" unitRef="USD"> 500 </EDGS:OriginationFee>

<EDGS:FinanceLeaseCost contextRef="From2020-03-262020-03-27_custom_WithThirtySixMonthlyPaymentsMember" decimals="0" unitRef="USD"> 12685 </EDGS:FinanceLeaseCost>

<us-gaap:FinanceLeasePrincipalPayments contextRef="From2020-03-262020-03-27" decimals="0" unitRef="USD"> 12685 </us-gaap:FinanceLeasePrincipalPayments>

<us-gaap:FinanceLeaseRightOfUseAsset contextRef="AsOf2020-03-27" decimals="0" unitRef="USD"> 38895 </us-gaap:FinanceLeaseRightOfUseAsset>

<us-gaap:PrepaidTaxes contextRef="AsOf2020-03-27" decimals="0" unitRef="USD"> 3140 </us-gaap:PrepaidTaxes>

<us-gaap:FinanceLeaseLiability contextRef="AsOf2020-03-27" decimals="0" unitRef="USD"> 38895 </us-gaap:FinanceLeaseLiability>

<us-gaap:CapitalLeasesOfLesseeContingentRentalsBasisSpreadOnVariableRate contextRef="AsOf2020-03-27" decimals="INF" unitRef="Pure"> 0.1255 </us-gaap:CapitalLeasesOfLesseeContingentRentalsBasisSpreadOnVariableRate>

<us-gaap:FinanceLeasePrincipalPayments contextRef="From2022-04-012022-06-30" decimals="0" unitRef="USD"> 3876 </us-gaap:FinanceLeasePrincipalPayments>

<us-gaap:FinanceLeasePrincipalPayments contextRef="From2022-04-012022-06-30_custom_PrincipalMember" decimals="0" unitRef="USD"> 3485 </us-gaap:FinanceLeasePrincipalPayments>

<us-gaap:FinanceLeasePrincipalPayments contextRef="From2022-04-012022-06-30_custom_InterestMember" decimals="0" unitRef="USD"> 391 </us-gaap:FinanceLeasePrincipalPayments>

<us-gaap:LeaseCost contextRef="From2022-04-012022-06-30" decimals="0" unitRef="USD"> 3241 </us-gaap:LeaseCost>

<us-gaap:LeaseCostTableTextBlock contextRef="From2022-01-01to2022-06-30">

As of June 30, 2022, lease-related assets and liabilities consisted of: SCHEDULE OF LEASE RELATED ASSETS AND LIABILITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Assets</td><td> </td> <td style="text-align: left"> </td><td id="xdx_492_20220630_zBvnIvDXqKAl" style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--PrepaidExpenseNoncurrent_iI_pp0p0_maLAzs7c_zY73STszjLs5" style="vertical-align: bottom; background-color: White"> <td style="width: 76%; text-align: left">Prepaid expense</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 20%; text-align: right">785</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--FinanceLeaseRightOfUseAsset_iI_pp0p0_maLAzs7c_zr5cmkmeb6Ef" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Right of use asset – finance lease</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9,724</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--SecurityDeposit_iI_pp0p0_maLAzs7c_zZ8B5IsvcvW9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Security deposit</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">7,753</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--LeaserelatedAssets_iTI_pp0p0_mtLAzs7c_z6xtryTfQc88" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total lease-related assets</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">18,262</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--FinanceLeaseLiabilityCurrent_iI_pp0p0_maFLLzIIE_zNSJHfdLKrk5" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Lease liability – finance, current portion</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">9,883</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--FinanceLeaseLiabilityNoncurrent_iI_pp0p0_maFLLzIIE_zSnLpYZfpTSl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Lease liability – finance, non-current portion</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_408_ecustom--FinanceLeaseLiabilities_iTI_pp0p0_mtFLLzIIE_zuvEq8z8517i" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total lease-related liabilities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">9,883</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

</us-gaap:LeaseCostTableTextBlock>

<us-gaap:PrepaidExpenseNoncurrent contextRef="AsOf2022-06-30" decimals="0" unitRef="USD"> 785 </us-gaap:PrepaidExpenseNoncurrent>

<us-gaap:FinanceLeaseRightOfUseAsset contextRef="AsOf2022-06-30" decimals="0" unitRef="USD"> 9724 </us-gaap:FinanceLeaseRightOfUseAsset>

<us-gaap:SecurityDeposit contextRef="AsOf2022-06-30" decimals="0" unitRef="USD"> 7753 </us-gaap:SecurityDeposit>

<EDGS:LeaserelatedAssets contextRef="AsOf2022-06-30" decimals="0" unitRef="USD"> 18262 </EDGS:LeaserelatedAssets>

<us-gaap:FinanceLeaseLiabilityCurrent contextRef="AsOf2022-06-30" decimals="0" unitRef="USD"> 9883 </us-gaap:FinanceLeaseLiabilityCurrent>

<EDGS:FinanceLeaseLiabilities contextRef="AsOf2022-06-30" decimals="0" unitRef="USD"> 9883 </EDGS:FinanceLeaseLiabilities>

<us-gaap:FinanceLeaseLiabilityMaturityTableTextBlock contextRef="From2022-01-01to2022-06-30">

Future maturities of the lease liability are as follows: SCHEDULE OF MATURITIES OF LEASE LIABILITY <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_49C_20220630_zTDLdsq36fb9" style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear_iI_pp0p0_maFLLPDzNpw_zyunmZpJqf83" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: justify">2022 (Q2-Q4)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 20%; text-align: right">7,340</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--FinanceLeaseLiabilityPaymentsDueNextTwelveMonths_iI_pp0p0_maFLLPDzNpw_zVjziXjNe9T4" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1.5pt">2023</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,543</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--FinanceLeaseLiabilityPaymentsDue_iTI_pp0p0_mtFLLPDzNpw_ziOEAcv1iIA7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt">Total future maturities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">9,883</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

</us-gaap:FinanceLeaseLiabilityMaturityTableTextBlock>

<us-gaap:FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear contextRef="AsOf2022-06-30" decimals="0" unitRef="USD"> 7340 </us-gaap:FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear>

<us-gaap:FinanceLeaseLiabilityPaymentsDueNextTwelveMonths contextRef="AsOf2022-06-30" decimals="0" unitRef="USD"> 2543 </us-gaap:FinanceLeaseLiabilityPaymentsDueNextTwelveMonths>

<us-gaap:FinanceLeaseLiabilityPaymentsDue contextRef="AsOf2022-06-30" decimals="0" unitRef="USD"> 9883 </us-gaap:FinanceLeaseLiabilityPaymentsDue>

<EDGS:SignificantAgreementsTextBlock contextRef="From2022-01-01to2022-06-30">

NOTE 9: SIGNIFICANT AGREEMENTS On December 2, 2021, the Company entered into an agreement with a customer, under which EDGE will supply data center equipment and related components, along with optional project management services. The total sale price of $9,074,100 and applicable sales taxes was receivable on the following schedule: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">$2,990,564 due upon execution. </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">$2,840,564 plus applicable sales tax, due 30 days from execution.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">$3,787,418 due prior to final shipment of the equipment. </td></tr> </table> In March 2022, the total amount of the contract was reduced by $86,347 as a result of a change order, for a new total sale price of $8,987,753. Delivery commitments under this agreement range from 3-19 weeks from the date of execution, and the agreement provides for penalties paid by Company of $5,000 for each day in the event deliveries are ten or more days late and penalties of $10,000 per day after fifteen days past the estimated delivery date. Certain portions of the equipment have been delivered beyond the original 19-week window due to unforeseen customer-imposed logistics and collections delays and the extensive replacement of faulty infrastructure resulting from a supplier’s shipments of faulty equipment. Management believes that the Company’s exposure to penalties will not exceed the $627,245 current outstanding balance due from the customer. However, in the event the customer does seek to impose all penalties, management estimates the Company’s exposure to direct contract-related penalties would range from $740,000 to $810,000, while the customer may claim as much as $1.3 million. Under this agreement, the Company warrants that the failure rate for miners in the liquid immersion-cooling system will not materially exceed that of miners in an air-cooled system. In the event that the cause of miner failures within three years of the date of delivery is proximally linked to the liquid immersion cooling systems, the Company is liable to the Customer for liquidated damages equal to the purchase price less accumulated depreciation to date based on a five-year schedule. Management is currently evaluating estimates and any accounting impacts to future periods of this arrangement. Through the date of this filing, the Company has collected $8,360,508. Management re-evaluated collectability under ASC 606, given the aforementioned significant facts and circumstances, and believes it is unlikely the Company will collect the $627,245 outstanding balance. Further, management believes this collectability issue is effectively a renegotiation of the purchase price. As such, the Company discontinued revenue recognition beyond the $8,360,508 collected.

</EDGS:SignificantAgreementsTextBlock>

<us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax contextRef="From2021-12-012021-12-02" decimals="0" unitRef="USD"> 9074100 </us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax>

<us-gaap:SalesAndExciseTaxPayableCurrent contextRef="AsOf2021-12-02_custom_UponExecutionMember" decimals="0" unitRef="USD"> 2990564 </us-gaap:SalesAndExciseTaxPayableCurrent>

<us-gaap:SalesAndExciseTaxPayableCurrent contextRef="AsOf2021-12-02_custom_ApplicableSalesTaxDue30DaysMember" decimals="0" unitRef="USD"> 2840564 </us-gaap:SalesAndExciseTaxPayableCurrent>

<us-gaap:SalesAndExciseTaxPayableCurrent contextRef="AsOf2021-12-02_custom_FinalShipmentEquipmentMember" decimals="0" unitRef="USD"> 3787418 </us-gaap:SalesAndExciseTaxPayableCurrent>

<EDGS:IncreaseDecreaseInRevenue contextRef="From2022-03-012022-03-31" decimals="0" unitRef="USD"> 86347 </EDGS:IncreaseDecreaseInRevenue>

<us-gaap:SaleOfStockConsiderationReceivedPerTransaction contextRef="From2022-03-012022-03-31" decimals="0" unitRef="USD"> 8987753 </us-gaap:SaleOfStockConsiderationReceivedPerTransaction>

<EDGS:Penalties contextRef="From2022-01-012022-06-30_custom_TenOrMoreDaysMember" decimals="0" unitRef="USD"> 5000 </EDGS:Penalties>

<EDGS:Penalties contextRef="From2022-01-012022-06-30_custom_FifteenDaysMember" decimals="0" unitRef="USD"> 10000 </EDGS:Penalties>

<us-gaap:DueFromCustomerAcceptances contextRef="AsOf2022-06-30_custom_CustomerMember" decimals="0" unitRef="USD"> 627245 </us-gaap:DueFromCustomerAcceptances>

<EDGS:Penalties contextRef="From2022-01-012022-06-30_srt_MinimumMember" decimals="0" unitRef="USD"> 740000 </EDGS:Penalties>

<EDGS:Penalties contextRef="From2022-01-012022-06-30_srt_MaximumMember" decimals="0" unitRef="USD"> 810000 </EDGS:Penalties>

<EDGS:Penalties contextRef="From2022-01-01to2022-06-30" decimals="-5" unitRef="USD"> 1300000 </EDGS:Penalties>

<us-gaap:ProceedsFromSaleOfPropertyPlantAndEquipment contextRef="From2022-01-01to2022-06-30" decimals="0" unitRef="USD"> 8360508 </us-gaap:ProceedsFromSaleOfPropertyPlantAndEquipment>

<EDGS:DescriptionOfCollectionOfOutstandingBalance contextRef="From2022-01-01to2022-06-30"> Management re-evaluated collectability under ASC 606, given the aforementioned significant facts and circumstances, and believes it is unlikely the Company will collect the $627,245 outstanding balance. </EDGS:DescriptionOfCollectionOfOutstandingBalance>

<us-gaap:ProceedsFromSaleOfPropertyPlantAndEquipment contextRef="From2022-01-01to2022-06-30" decimals="0" unitRef="USD"> 8360508 </us-gaap:ProceedsFromSaleOfPropertyPlantAndEquipment>

<EDGS:ConstructionInProgressTextBlock contextRef="From2022-01-01to2022-06-30">

NOTE 10: CONSTRUCTION IN PROGRESS – DATA CENTERS During the six months ended 2022, the Company made total payments of $127,142 for data center related infrastructure, equipment and labor and installation costs for data center construction in progress for the following two sites: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Site A (Colorado Springs, Colorado) - $<span id="xdx_90F_eus-gaap--PaymentsToAcquireInterestInJointVenture_pp0p0_c20220101__20220630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--SiteAMember_ztHOZpMQpFdf" title="Payments to acquire interest in joint venture">90,741</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Site B (Carlsbad, California) - $<span id="xdx_906_eus-gaap--PaymentsToAcquireInterestInJointVenture_pp0p0_c20220101__20220630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--SiteBMember_z7J8XfEYGlF7" title="Payments to acquire interest in joint venture">36,401 – Impaired, as set forth below.</td></tr> </table> Since the assets are not yet ready for service and have not been placed in service, the Company has capitalized them and evaluates them for impairment at the end of each reporting period. The Company does not own the underlying real estate and is heavily dependent upon continued access to and permission to use such sites. Agreements between management and site ownership are currently informal and may change at any time, which could result in impairment of the Company’s assets at such sites. Management evaluated the construction in progress for impairment as of June 30, 2022 and determined that the Company would unlikely be able to proceed with or continue to access Site B, given the circumstances discussed with the customer in Note 9. As a result, management deemed this construction in progress to be fully impaired as of June 30, 2022 and wrote off the $36,401 of costs pertaining to Site B to cost of goods sold, as this build-out was linked directly to the sale connected in Note 9, and the customer retained the infrastructure and equipment. As of June 30, 2022, in-progress construction on data centers totaled $90,741.

</EDGS:ConstructionInProgressTextBlock>

<us-gaap:PaymentsToAcquireInterestInJointVenture contextRef="From2022-01-012022-06-30_custom_SiteAMember" decimals="0" unitRef="USD"> 90741 </us-gaap:PaymentsToAcquireInterestInJointVenture>

<us-gaap:PaymentsToAcquireInterestInJointVenture contextRef="From2022-01-012022-06-30_custom_SiteBMember" decimals="0" unitRef="USD"> 36401 </us-gaap:PaymentsToAcquireInterestInJointVenture>

<EDGS:ConstructionInProgressWriteOff contextRef="AsOf2022-06-30" decimals="0" unitRef="USD"> 36401 </EDGS:ConstructionInProgressWriteOff>

<EDGS:ConstructionInProgress contextRef="AsOf2022-06-30" decimals="0" unitRef="USD"> 90741 </EDGS:ConstructionInProgress>

<us-gaap:NewAccountingPronouncementsAndChangesInAccountingPrinciplesTextBlock contextRef="From2022-01-01to2022-06-30">

NOTE 11: RECENT ACCOUNTING PRONOUNCEMENTS Management does not believe that any recently issued, but not yet effective, accounting standards could have a material effect on the accompanying financial statements. As new accounting pronouncements are issued, we will adopt those that are applicable under the circumstances.

</us-gaap:NewAccountingPronouncementsAndChangesInAccountingPrinciplesTextBlock>

<us-gaap:SubsequentEventsTextBlock contextRef="From2022-01-01to2022-06-30">

NOTE 12: SUBSEQUENT EVENTS In July 2022, the Company issued a total of <span id="xdx_901_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20220701__20220731__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zPwg3WTypcM4" title="Stock issued during period shares new issues">475,000 common shares and <span id="xdx_90D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20220701__20220731__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__srt--TitleOfIndividualAxis__srt--BoardOfDirectorsChairmanMember_zQn8rR2SW2l3" title="Options to purchase shares">200,000 options to purchase common stock to members of its Board of Directors as compensation for services rendered. Of the shares issued, <span id="xdx_90A_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20220701__20220731__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__srt--TitleOfIndividualAxis__srt--ChiefExecutiveOfficerMember_zcQ7RjmhJRsk" title="Stock issued during period shares new issues">125,000 were issued to the CEO who also serves as the Chairman, and <span id="xdx_902_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20220701__20220731__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__srt--TitleOfIndividualAxis__srt--PresidentMember_zvNMW8MkcgZ7" title="Stock issued during period shares new issues">125,000 were issued to the President who is also a Director. In July 2022, the Company issued <span id="xdx_900_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20220701__20220731__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__srt--TitleOfIndividualAxis__custom--AdvisorsMember_zJkKG45KtxO4" title="Number of common stock for services rendered">100,000 common shares to advisors for services rendered. Management has evaluated significant subsequent events through the date these financial statements were issued and has identified no other significant events requiring further disclosure.

</us-gaap:SubsequentEventsTextBlock>

<us-gaap:StockIssuedDuringPeriodSharesNewIssues contextRef="From2022-07-012022-07-31_us-gaap_SubsequentEventMember" decimals="INF" unitRef="Shares"> 475000 </us-gaap:StockIssuedDuringPeriodSharesNewIssues>

<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross contextRef="From2022-07-012022-07-31_us-gaap_SubsequentEventMember_srt_BoardOfDirectorsChairmanMember" decimals="INF" unitRef="Shares"> 200000 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross>

<us-gaap:StockIssuedDuringPeriodSharesNewIssues contextRef="From2022-07-012022-07-31_us-gaap_SubsequentEventMember_srt_ChiefExecutiveOfficerMember" decimals="INF" unitRef="Shares"> 125000 </us-gaap:StockIssuedDuringPeriodSharesNewIssues>

<us-gaap:StockIssuedDuringPeriodSharesNewIssues contextRef="From2022-07-012022-07-31_us-gaap_SubsequentEventMember_srt_PresidentMember" decimals="INF" unitRef="Shares"> 125000 </us-gaap:StockIssuedDuringPeriodSharesNewIssues>

<us-gaap:StockIssuedDuringPeriodSharesNewIssues contextRef="From2022-07-012022-07-31_us-gaap_SubsequentEventMember_custom_AdvisorsMember" decimals="INF" unitRef="Shares"> 100000 </us-gaap:StockIssuedDuringPeriodSharesNewIssues>

</xbrl>

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Filing Submission 0001493152-22-022427 – Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

Edge Data Solutions, Inc. – ‘10-Q’ for 6/30/22 – ‘XML’

On: Friday, 8/12/22, at 5:22pm ET · For: 6/30/22 · Accession #: 1493152-22-22427 · File #: 0-56419

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