STOCKHOLDERS’ EQUITY (DEFICIT) |
12 Months Ended |
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Dec. 31, 2024 | |
| Equity [Abstract] | |
| STOCKHOLDERS’ EQUITY (DEFICIT) | NOTE 12 - STOCKHOLDERS’ EQUITY (DEFICIT)
The Company is authorized to issue shares of common stock with a par value of $ and shares of preferred stock with a par value of $.
Common Stock
There are shares of common stock outstanding, unchanged as of both December 31, 2024, and 2023.
Preferred Stock
As of December 31, 2023 there was preferred Stock issued and outstanding, however, the following Preferred Stock was issued during fiscal 2024 and remains issued and outstanding as of December 31, 2024:
Class “A” Preferred Stock
Class “F” Preferred Stock
Class “A” Preferred Stock
Each share of Class A Preferred Stock ranks senior to all Common Stock and any other class of securities that is; specifically designated as junior to Class A Preferred Stock. In addition, Each Share of Class A Preferred Stock shall be (i) convertible at any time by the holder thereof into shares of Common Stock, however, any Series A Preferred Stock remaining unconverted at 5:00 P.M., Las Vegas, Nevada time on January 1, 2026, shall be automatically converted into Two Hundred Fifty (250) shares of the Company’s Common Stock (par value $); and (ii) entitled to Five Hundred (500) votes on any matter on which any of the shareholders are required or permitted to vote. No dividends shall be paid on any Series “A” Preferred Stock.
As of June 30, 2025, no funds had been transferred to pay for the said subscriptions. As a result, on notice to the subscribers duly given, the issuance of these shares of Class ‘A’ shares of Preferred Stock was revoked for non-payment, and the entire Class “A” Preferred Stock series was cancelled
Class “F” Preferred Stock
Each share of Class F Preferred Stock ranks senior to all Common Stock and any other class of securities. Each Share of Class F Preferred Stock shall not be convertible at any time but shall be entitled to One Thousand (1,000) votes on any matter on which any of the shareholders are required or permitted to vote. No dividends shall be paid on any Series “F” Preferred Stock.
As of June 30, 2025, no funds had been transferred to pay for the said subscriptions. As a result, on notice to the subscribers duly given, the issuance of these shares of Class ‘F’ shares of Preferred Stock was revoked for non-payment, and the entire Class “F” Preferred Stock series was cancelled
Convertible Debt Issuances
During fiscal year 2024, the Company issued a total of 20 Series “F” Convertible Notes with an Aggregate value of $1,585,004 convertible at $1.25 into shares of common stock. As of December 31, 2024, there were no other issuances outstanding.
Other Stock Issuances
During fiscal year 2024, the Company issued options under the Company’s 2021 Stock Incentive Plan (the “Plan”).
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