BASIS OF PRESENTATION AND ACCOUNTING POLICIES (Policies) |
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| BASIS OF PRESENTATION AND ACCOUNTING POLICIES | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Basis of Presentation | The financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America (" US GAAP") and are presented in US dollars. The Company uses the accrual basis of accounting and has adopted a December 31 fiscal year end. |
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| Use of Estimates | The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates. The Company continually evaluates its estimates and judgments. The Company bases its estimates and judgments on historical experience and other factors that it believes to be reasonable under the circumstances. Materially different results can occur as circumstances change and additional information becomes known, even for estimates and judgments that are not deemed critical. |
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| Cash and Cash Equivalents | The Company considers all highly liquid investments with the original maturities of three months or less to be cash equivalents. The Company had $24,093 and $2,193 in cash and cash equivalents as of December 31, 2025 and December 31, 2024, respectively. |
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| Accounts Receivable | Accounts receivables are recorded in accordance with Accounting Standards Codification (“ASC”) 310, “Receivables,” at the invoiced amount and do not bear interest.
As of December 31, 2025 and December 31, 2024, the Company had accounts receivable of $5,598 and $0, respectively. The $5,598 accounts receivable derived from December 2025 advertising from Meta and the proceed was subsequently received in January 2026. The Company accessed that the recognition for current expected credit losses is not required as of December 31, 2025. |
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| Revenue Recognition | The Company’s revenue derives from the development, promotion and distribution of live events and televised entertainment programming and also through sponsorship and site subscription.
The Company recognizes revenue from the sale of products and services in accordance with ASC 606, “Revenue Recognition” following the five steps procedure:
Step 1: Identify the contract(s) with customers Step 2: Identify the performance obligations in the contract Step 3: Determine the transaction price Step 4: Allocate the transaction price to performance obligations Step 5: Recognize revenue when the entity satisfies a performance obligation
Live Events (booking fees)
1. Identify the contract
The Company has entered into agreement with event organizers
2. Identify performance obligations
The type and nature of the shows are stated in the agreement
3. Determine transaction price
The pricing of the shows (transaction price as a whole) is stated in the agreement
4. Allocate transaction price
The transaction price is allocated to each standalone performance obligation when applicable
5. Recognize revenue
Revenue is recognized when the Company has satisfied all of the obligations upon completion of the shows. The Company is paid by checks following the events.
Live Events (on-line Pay-Per-View)
1. Identify the contract
The Company states on the Company website the pricing of the on-line Pay-Per-View live events
2. Identify performance obligations
The type and details of the on-line Pay-Per-View live events are stated on the Company website
3. Determine transaction price
The pricing of the on-line Pay-Per-View events (transaction price as a whole) are stated on the Company website
4. Allocate transaction price
The transaction price is allocated to each standalone performance obligation when applicable
5. Recognize revenue
Revenue is recognized when the Company has satisfied all of the obligations upon completion of the on-line PPV shows. The Company provided the customers with options to pay via PayPal or credit cards. The former goes into the Company’s PayPal account and the latter is handled by the Company’s credit card processor (Stripe) and deposited into its account at the end of the month along with all other credit card purchase at the Company website.
Licensing
1. Identify the contract
The Company has entered into agreement with Maybacks Global Entertainment, LLC Network.
2. Identify performance obligations
The type of programs and events granted for broadcast are stated in the licensing agreement
3. Determine transaction price
The pricing of the broadcasting right (transaction price as a whole) is stated in the contract
4. Allocate transaction price
The transaction price is allocated to each standalone performance obligation when applicable
5. Recognize revenue
Revenue is recognized when the Company has satisfied all of the obligations when it has granted to Maybacks the broadcasting rights of programs and events stated in the licensing agreement.
Sponsorship
1. Identify the contract
The Company has entered into agreement with the sponsors
2. Identify performance obligations
The type and details of the sponsorship are stated in the contract
3. Determine transaction price
The pricing of the sponsorship (transaction price as a whole) is stated in the contract
4. Allocate transaction price
The transaction price is allocated to each standalone performance obligation when applicable
5. Recognize revenue
Revenue is recognized when the Company has satisfied all of the obligations when it has performed the sponsorship services.
Site Subscriptions
1. Identify the contract
The Company stated on its website the site subscription fees.
2. Identify performance obligations
The benefits and features of the subscription are stated on the Company website
3. Determine transaction price
The pricing of the subscription (transaction price as a whole) is stated on the Company website
4. Allocate transaction price
The transaction price is allocated to each standalone performance obligation when applicable
5. Recognize revenue
Revenue is recognized when the Company confirms member subscription after payment is made. The customers pay through credit card on a recurring monthly basis through Stripe.
Advertising
1. Identify the contract
The Company has entered into agreement with the client
2. Identify performance obligations
The type and details of the advertisement are stated in the contract
3. Determine transaction price
The pricing of the advertisement (transaction price as a whole) is stated in the contract
4. Allocate transaction price
The transaction price is allocated to each standalone performance obligation when applicable
5. Recognize revenue
Revenue is recognized when the Company has satisfied all of the obligations when it has performed the advertising services.
The below table shows the revenue by revenue stream for the years ended December 31, 2025 and 2024:
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| Credit Risk | Credit risk is the risk that one party to a financial instrument will cause a financial loss for the other party by failing to discharge an obligation. The Company’s main credit risk relates to its accounts receivable. The Company’s credit risk is reduced by a broad customer base and a review of customer credit profiles.
The Company’s maximum exposure to credit risk corresponds to the carrying amount for accounts receivable. Accounts receivable are held with vendors in which the Company has a historically strong relationship.
The Company mitigates credit risk associated with its trade receivables through established credit approvals, limits and a regular monitoring process. The Company generally considers the credit quality of its financial assets that are neither past due nor impaired to be solid. Credit risk is further mitigated due to the large number of customers and their dispersion across geographic areas.
For the year ended December 31, 2025, there were three customers who accounted for greater than 10% of the Company’s revenue, with Meta represents 39%, Maybacks Global Ent., LLC represents 24% and YouTube represents 18% of the Company’s revenue. During the year ended December 31, 2024, there were two customers accounted for greater than 10% of the Company’s revenue, with YouTube represents 47% and Tubi represents 10% of the Company’s revenue. |
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| Earnings (Loss) per Share | The Company computes basic and diluted net income (loss) per share amounts in accordance with ASC Topic 260, “Earnings per Share.” Basic loss per share is computed by dividing net income (loss) available to common shareholders by the weighted average number of shares of common stock outstanding during the reporting period. Diluted loss per share reflects the potential dilution that could occur if convertible notes to issue common stock were converted resulting in the issuance of common stock that could share in the income (loss) of the Company.
Year Ended December 31, 2025
For the year ended December 31, 2025, convertible notes and warrants were dilutive instruments and were not included in the calculation of diluted loss per share as their effect would be antidilutive.
Year Ended December 31, 2024
For the year ended December 31, 2024, convertible notes and warrants were dilutive instruments and were not included in the calculation of diluted loss per share as their effect would be antidilutive.
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| Related Party Balances and Transactions | The Company follows Financial Accounting Standards Board (“FASB”) ASC 850, “Related Party Disclosures,” for the identification of related parties and disclosure of related party transaction. (See Note 10) |
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| Convertible Instruments and Derivatives | The Company analyzed the conversion option for derivative accounting consideration under ASC 815, “Derivatives and Hedging,” and determined that the convertible notes should be classified as a liability since the conversion option becomes effective at issuance resulting in there being no explicit limit to the number of shares to be delivered upon settlement of the above conversion options. The Company accounts for warrants as a derivative liability due to there being no explicit limit to the number of shares to be delivered upon settlement of all conversion options.
The Company accounts for debt with conversion options under ASU (“Accounting Standard Update”) 2020-06, ASC Subtopic 470-20 “Debt—Debt with Conversion and Other Options”. The standard reduced the number of accounting models for convertible debt instruments and convertible preferred stock. Convertible instruments that continue to be subject to separation models are (1) those with embedded conversion features that are not clearly and closely related to the host contract, that meet the definition of a derivative, and that do not qualify for a scope exception from derivative accounting; and, (2) convertible debt instruments issued with substantial premiums for which the premiums are recorded as paid-in capital. |
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| Fair Value Measurement | The Company adopted the provisions of ASC Topic 820, “Fair Value Measurements and Disclosures,” which defines fair value as used in numerous accounting pronouncements, establishes a framework for measuring fair value and expands disclosure of fair value measurements.
The estimated fair value of certain financial instruments, including cash and cash equivalents, accounts payable and accrued liabilities are carried at historical cost basis, which approximates their fair values because of the short-term nature of these instruments. The carrying amounts of short and long term credit obligations approximate fair value because the effective yields on these obligations, which include contractual interest rates taken together with other features such as concurrent issuances of warrants and/or embedded conversion options, are comparable to rates of returns for instruments of similar credit risk.
ASC 820 defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820 also establishes a fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 describes three levels of inputs that may be used to measure fair value:
The intangible assets – digital assets, classified as level 1 assets, are the only financial assets measured at fair value on a recurring basis. (See Note 4)
The derivative liability in connection with the conversion feature of the convertible debts and warrants, classified as a level 3 liability, are the only financial liabilities measured at fair value on a recurring basis. (See Note 8)
The following table summarizes fair value measurement by level at December 31, 2025 and December 31, 2024, measured at fair value on a recurring basis:
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| Stock Based Compensation | The Company applies the fair value method of FASB ASC 718, “Share Based Payment”, in accounting for its stock-based compensation. The standard states that compensation cost is measured at the grant date based on the fair value of the award and is recognized over the service period. The Company values stock-based compensation at the market price for the Company’s common stock and other pertinent factors at the grant date.
During the years ended December 31, 2025 and 2024, the Company recorded stock-based compensation expense of $47,000 and $90,000, respectively. The stock-based compensation incurred from common stock awarded to consultants and executive was reported under professional fees and professional fees - related parties in the statements of operations.
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| Digital Assets | In September 2025, the Company invested in digital assets to diversify and maximize returns on cash balances. The Company has ownership of and control over their digital assets. The digital assets are initially recorded at cost and are subsequently remeasured on the balance sheet at fair value.
The Company determines and records the fair value of their digital assets in accordance with ASC Topic 820, “Fair Value Measurement”, based on quoted prices on the active exchange(s) that they have determined is the principal market for such assets (Level 1 inputs). The Company adopts Specific Identification (Spec-ID) method where specific digital asset units are tracked and matched to their disposal. The Company determines the cost basis of their digital assets using the cost at the time of acquisition of each unit received. Realized and unrealized gains and losses are recorded in the Company’s statements of operations.
The Company accounts for its digital assets, which are comprised solely of bitcoin and crypto, as indefinite-lived intangible assets. The Company’s digital assets are initially recorded at cost. Under the adoption of ASU 2023-08 on January 1, 2025, bitcoin assets are measured at fair value as of each reporting period. The Company determines the fair value of its bitcoin based on quoted (unadjusted) prices on the Coinbase exchange, the active exchange that the Company has determined is its principal market for bitcoin (Level 1 inputs). Changes in fair value are recognized as incurred in the Company's statements of operations. |
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| Income Taxes | The Company accounts for income taxes pursuant to FASB ASC 740 “Income Taxes”. Pursuant to ASC 740 deferred income taxes are provided on a liability method whereby deferred tax assets are recognized for deductible temporary differences, and operating loss carryforwards and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the reported amounts of assets and liabilities and their tax bases. 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 provision for income taxes represents the tax expense for the period, if any, and the change during the period in deferred tax assets and liabilities. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment.
ASC 740 also provides criteria for the recognition, measurement, presentation and disclosure of uncertain tax positions. Under ASC 740, the impact of an uncertain tax position on the income tax return may only be recognized at the largest amount that is more-likely-than-not to be sustained upon audit by the relevant taxing authority. |
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| Recent Accounting Pronouncements | The Company has evaluated all recently issued, but not yet effective, accounting pronouncements and do not believe that these accounting pronouncements will have any material impact on its financial statements or disclosures upon adoption. |
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| Recently Adopted Accounting Standards | In November 2023, the FASB issued ASU 2023-07, “Segment Reporting” (Topic 280). The amendments in this update expand segment disclosure requirements, including new segment disclosure requirements for entities with a single reportable segment among other disclosure requirements. This update is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. The adoption of ASU 2023-07 has not had a material effect on the Company’s financial statements.
In December 2023, the FASB issued ASU No. 2023-09, “Income Taxes” (Topic 740) - Improvements to Income Tax Disclosures (“ASU 2023-09”), which is intended to enhance the transparency and decision usefulness of income tax disclosures. The amendments in ASU 2023-09 provide for enhanced income tax information primarily through changes to the rate reconciliation and income taxes paid information. ASU 2023-09 is effective for the Company prospectively to all annual periods beginning after December 15, 2024. Early adoption is permitted. The adoption of ASU 2023-09 has not had a material effect on the Company’s financial statements and disclosures.
In July 2025, the FASB issued ASU 2025-05, “Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets” (“ASU 2025-05”). ASU 2025-05 provides a practical expedient that all entities can use when estimating expected credit losses for current accounts receivable and current contract assets arising from transactions accounted for under ASC 606, “Revenue from Contracts with Customers”. Under this practical expedient, an entity is allowed to assume that the current conditions it has applied in determining credit loss allowances for current accounts receivable and current contract assets remain unchanged for the remaining life of those assets. ASU 2025-05 is effective for fiscal years beginning after December 15, 2025, and interim reporting periods in those years. Entities that elect the practical expedient and, if applicable, make the accounting policy election are required to apply the amendments prospectively. The Company has early adopted and implemented this guidance during year ended December 31, 2025. The adoption of ASU 2023-09 has not had a material effect on the Company’s financial statements and disclosures.
In December 2023, the FASB issued ASU No. 2023-08, “Intangibles—Goodwill and Other—Crypto Assets” (Subtopic 350-60): “Accounting for and Disclosure of Crypto Assets” (“ASU 2023-08”). ASU 2023-08 requires in-scope crypto assets (including the Company’s digital assets holdings) to be measured at fair value in the balance sheets with gains and losses from changes in the fair value of such crypto assets recognized in net income/(loss) each reporting period. ASU 2023-08 also requires certain interim and annual disclosures for crypto assets within the scope of the standard. The Company adopted this guidance effective September 12, 2025. |
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