2022 Q4 Form 10-Q Financial Statement
#000164033422002218 Filed on October 12, 2022
Income Statement
Concept | 2022 Q4 | 2022 Q2 | 2021 Q2 |
---|---|---|---|
Revenue | $34.97K | $32.27K | $27.43K |
YoY Change | 83.09% | 17.66% | 543.9% |
Cost Of Revenue | $9.170K | $14.96K | $5.030K |
YoY Change | -69.01% | 197.42% | |
Gross Profit | $25.80K | $17.32K | $22.40K |
YoY Change | -345.95% | -22.7% | 425.82% |
Gross Profit Margin | 73.78% | 53.65% | 81.66% |
Selling, General & Admin | $64.97K | $53.60K | $72.90K |
YoY Change | -66.71% | -26.47% | 23.41% |
% of Gross Profit | 251.82% | 309.54% | 325.45% |
Research & Development | |||
YoY Change | |||
% of Gross Profit | |||
Depreciation & Amortization | |||
YoY Change | |||
% of Gross Profit | |||
Operating Expenses | $64.98K | $49.70K | $72.89K |
YoY Change | -66.7% | -31.82% | 23.4% |
Operating Profit | -$39.18K | -$32.38K | -$50.49K |
YoY Change | -80.95% | -35.86% | -7.88% |
Interest Expense | $743.9K | $68.62K | $705.1K |
YoY Change | -90.91% | -90.27% | -1020.19% |
% of Operating Profit | |||
Other Income/Expense, Net | $972.7K | $705.1K | |
YoY Change | 37.96% | ||
Pretax Income | $704.7K | $940.3K | $654.6K |
YoY Change | -91.16% | 43.66% | -598.06% |
Income Tax | |||
% Of Pretax Income | |||
Net Earnings | $704.7K | $940.3K | $654.6K |
YoY Change | -91.16% | 43.66% | -598.07% |
Net Earnings / Revenue | 2015.1% | 2913.65% | 2386.27% |
Basic Earnings Per Share | |||
Diluted Earnings Per Share | $0.00 | $0.00 | $231.30 |
COMMON SHARES | |||
Basic Shares Outstanding | 3.535B shares | 3.535B shares | |
Diluted Shares Outstanding | 10.10B shares | 8.565B shares |
Balance Sheet
Concept | 2022 Q4 | 2022 Q2 | 2021 Q2 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $10.01K | $25.67K | $129.6K |
YoY Change | -70.97% | -80.19% | 409.84% |
Cash & Equivalents | $10.01K | $25.67K | $129.6K |
Short-Term Investments | |||
Other Short-Term Assets | $0.00 | $7.500K | |
YoY Change | -100.0% | ||
Inventory | |||
Prepaid Expenses | $0.00 | $7.500K | |
Receivables | |||
Other Receivables | |||
Total Short-Term Assets | $10.01K | $33.17K | $129.6K |
YoY Change | -76.16% | -74.4% | 409.84% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | |||
YoY Change | |||
Goodwill | |||
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | |||
YoY Change | |||
Other Assets | |||
YoY Change | |||
Total Long-Term Assets | $0.00 | $0.00 | $0.00 |
YoY Change | -100.0% | ||
TOTAL ASSETS | |||
Total Short-Term Assets | $10.01K | $33.17K | $129.6K |
Total Long-Term Assets | $0.00 | $0.00 | $0.00 |
Total Assets | $10.01K | $33.17K | $129.6K |
YoY Change | -76.16% | -74.4% | 409.84% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $579.8K | $500.2K | $426.2K |
YoY Change | 24.64% | 17.36% | 1604.0% |
Accrued Expenses | $442.9K | $334.8K | $216.8K |
YoY Change | 91.03% | 54.39% | -47.57% |
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $924.7K | $878.0K | $676.5K |
YoY Change | 15.62% | 29.78% | -13.31% |
Long-Term Debt Due | |||
YoY Change | |||
Total Short-Term Liabilities | $4.915M | $5.088M | $11.86M |
YoY Change | -28.16% | -57.09% | 275.8% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Other Long-Term Liabilities | |||
YoY Change | |||
Total Long-Term Liabilities | $0.00 | $0.00 | $0.00 |
YoY Change | |||
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $4.915M | $5.088M | $11.86M |
Total Long-Term Liabilities | $0.00 | $0.00 | $0.00 |
Total Liabilities | $4.915M | $5.088M | $11.86M |
YoY Change | -28.16% | -57.09% | 275.8% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$9.943M | -$9.977M | |
YoY Change | -15.17% | ||
Common Stock | $3.712M | $3.535M | |
YoY Change | 4.99% | ||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | -$4.905M | -$5.055M | -$11.73M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $10.01K | $33.17K | $129.6K |
YoY Change | -76.16% | -74.4% | 409.84% |
Cashflow Statement
Concept | 2022 Q4 | 2022 Q2 | 2021 Q2 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | $704.7K | $940.3K | $654.6K |
YoY Change | -91.16% | 43.66% | -598.07% |
Depreciation, Depletion And Amortization | |||
YoY Change | |||
Cash From Operating Activities | -$21.09K | -$34.13K | -$18.69K |
YoY Change | -77.83% | 82.61% | 82.52% |
INVESTING ACTIVITIES | |||
Capital Expenditures | |||
YoY Change | |||
Acquisitions | |||
YoY Change | |||
Other Investing Activities | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Cash From Investing Activities | $0.00 | $0.00 | $0.00 |
YoY Change | |||
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | |||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | 18.52K | 45.00K | -15.00K |
YoY Change | -70.83% | -400.0% | -700.0% |
NET CHANGE | |||
Cash From Operating Activities | -21.09K | -34.13K | -18.69K |
Cash From Investing Activities | 0.000 | 0.000 | 0.000 |
Cash From Financing Activities | 18.52K | 45.00K | -15.00K |
Net Change In Cash | -2.570K | 10.87K | -33.69K |
YoY Change | -91.88% | -132.26% | 335.27% |
FREE CASH FLOW | |||
Cash From Operating Activities | -$21.09K | -$34.13K | -$18.69K |
Capital Expenditures | |||
Free Cash Flow | |||
YoY Change |
Facts In Submission
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LINGERIE FIGHTING CHAMPIONSHIPS, INC. | ||
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NV | ||
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<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><strong>NOTE 1 – ORGANIZATION AND NATURE OF BUSINESS</strong></p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Lingerie Fighting Championships, Inc. (the “Company”) is a Nevada corporation incorporated on November 29, 2006 under the name Sparking Events, Inc. The Company’s corporate name was changed to Xodtec Group USA, Inc. in June 2009, Xodtec LED, Inc. in May 2010, Cala Energy Corp. in September 2013 and Lingerie Fighting Championships, Inc. on April 1, 2015.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The Company focuses on developing, producing, promoting, and distributing entertainment through live entertainment events, digital home videos, broadcast television networks, video on demand, and digital media channels in the United States. It offers wrestling and mixed martial arts fights featuring women under the LFC brand name.</p> | ||
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<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The preparation of financial statements in conformity with generally accepted accounting principles 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 the 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.</p> | ||
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Prior Period Reclassification Adjustment Description
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|
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Certain prior period amounts have been reclassified to conform with the current year presentation.</p> | ||
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StockIssuedDuringPeriodSharesNewIssues
|
5735928843 | shares | |
boty |
Related Party Balances And Transactionspolicytextblock
RelatedPartyBalancesAndTransactionspolicytextblock
|
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The Company follows FASB ASC 850, “<em>Related Party Disclosures</em>,” for the identification of related parties and disclosure of related party transaction. (See Note 9)</p> | ||
CY2022Q2 | us-gaap |
Derivative Assets
DerivativeAssets
|
0 | usd |
CY2022Q2 | us-gaap |
Derivative Liabilities
DerivativeLiabilities
|
3350662 | usd |
CY2021Q4 | us-gaap |
Derivative Assets
DerivativeAssets
|
0 | usd |
CY2021Q4 | us-gaap |
Derivative Liabilities
DerivativeLiabilities
|
5323107 | usd |
CY2022Q2 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
10000000 | shares |
CY2022Q2 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.001 | |
CY2022Q2 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
51 | shares |
CY2021Q4 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
51 | shares |
CY2022Q2 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
5000000000 | shares |
CY2022Q2 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.001 | |
CY2022Q2 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
3535302536 | shares |
boty |
Gain On Change In Fair Value Of The Derivative
GainOnChangeInFairValueOfTheDerivative
|
-2089547 | usd | |
CY2022Q2 | boty |
Derivative Liabilities1
DerivativeLiabilities1
|
3350661 | usd |
CY2020Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
5438166666 | shares |
CY2020Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
0.0001 | |
CY2021 | boty |
Number Of Shares Granted
NumberOfSharesGranted
|
400000000 | shares |
CY2021 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
|
0.0002 | |
CY2021 | boty |
Redeemed Per Share
RedeemedPerShare
|
0 | |
CY2021 | boty |
Exercised
Exercised
|
-281500000 | shares |
CY2021 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
|
0.0003 | |
CY2021 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
|
0 | |
CY2021Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
0.0001 | |
boty |
Number Of Shares Granted
NumberOfSharesGranted
|
208000000 | shares | |
us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
|
0.0005 | ||
boty |
Redeemed Per Share
RedeemedPerShare
|
0 | ||
us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
|
0 | ||
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
|
0 | ||
CY2022Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
5764666666 | shares |
CY2022Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
0.0001 | |
us-gaap |
Option Indexed To Issuers Equity Strike Price1
OptionIndexedToIssuersEquityStrikePrice1
|
0.0001 | ||
boty |
Expected Term
ExpectedTerm
|
P3Y2M4D | ||
boty |
Expected Term
ExpectedTerm
|
P4Y3M10D | ||
CY2022Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
|
1565667 | usd |
CY2022Q2 | boty |
Closing Market Price
ClosingMarketPrice
|
0.0004 | |
us-gaap |
Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
|
5764666666 | usd | |
CY2021 | us-gaap |
Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
|
5556666666 | usd |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
|
2294065 | shares | |
CY2021 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
|
4444017 | shares |
boty |
Loss Due To Derivative Liabilities On Warrants
LossDueToDerivativeLiabilitiesOnWarrants
|
72101 | usd | |
boty |
Loss Due To Derivative Liabilities On Warrants
LossDueToDerivativeLiabilitiesOnWarrants
|
346970 | usd | |
boty |
Gain Loss On Change In Fair Value Of Derivative Liabilities On Convertible Notes And Warrants
GainLossOnChangeInFairValueOfDerivativeLiabilitiesOnConvertibleNotesAndWarrants
|
-2089547 | usd | |
boty |
Note6 Promissory Note
Note6PromissoryNote
|
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><strong>NOTE 6 – PROMISSORY NOTES</strong></p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The Company had the following promissory notes payable as at June 30, 2022 and December 31, 2021:</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><table cellpadding="0" style="border-spacing:0;text-align:left;font:10pt times new roman;width:100%"><tbody><tr style="height:15px"><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="hdcell" colspan="2" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:center;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>June 30, 2022</strong></p></td><td style="PADDING-BOTTOM: 1px;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="hdcell" colspan="2" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:center;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>December 31, 2021</strong></p></td><td style="PADDING-BOTTOM: 1px;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px"><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" colspan="2" style="width:9%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" colspan="2" style="width:9%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px">Promissory Notes to Auctus Fund</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">340,000</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">340,000</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#ffffff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px">Less Debt Discount</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="BORDER-BOTTOM: 1px solid;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:right;">(17,424</td><td style="PADDING-BOTTOM: 1px;width:1%;vertical-align:bottom;white-space: nowrap;">)</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="BORDER-BOTTOM: 1px solid;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:right;">(89,183</td><td style="PADDING-BOTTOM: 1px;width:1%;vertical-align:bottom;white-space: nowrap;">)</td></tr><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px">Total Promissory Notes</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="BORDER-BOTTOM: 3px double;width:1%;vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="BORDER-BOTTOM: 3px double;width:9%;vertical-align:bottom;text-align:right;">322,576</td><td style="PADDING-BOTTOM: 3px;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="BORDER-BOTTOM: 3px double;width:1%;vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="BORDER-BOTTOM: 3px double;width:9%;vertical-align:bottom;text-align:right;">250,817</td><td style="PADDING-BOTTOM: 3px;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr></tbody></table><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">On March 4, 2021, the Company entered into an agreement with Auctus Fund, LLC to issue a senior secured promissory note of $300,000 to the unrelated party, which bears interest at 12% of the principal amount. The promissory note matures on March 4, 2022. In conjunction with the convertible note, the Company issued warrants to purchase 150,000,000 shares of common stock, exercisable for five years from issuance at $0.002 per share and returnable warrants to purchase 150,000,000 shares of common stock, exercisable for five years form issuance at $0.002 per share which will be automatically expired in the event that the Company repays the convertible promissory notes prior to its maturity date. (See Note 5) The note was discounted for original issued discount of $35,000 and a derivative on warrants of $265,000 for an aggregate discount of $300,000, which is being amortized over the life of the note using the effective interest method resulting in $248,077 of debt discount amortization for the year ended December 31, 2021. As of June 30, 2022, the note is presented at $300,000, net of debt discount of $0.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">On December 6, 2021, the Company entered into an agreement with Auctus Fund, LLC to issue a senior secured promissory note of $40,000 to the unrelated party, which bears interest at 12% of the principal amount. The promissory note matures on December 6, 2022. In conjunction with the convertible note, the Company issued first common stock purchased warrants to purchase 50,000,000 shares of common stock, exercisable for five years from issuance at $0.0008 per share and second common stock purchased warrants to purchase 50,000,000 shares of common stock, exercisable for five years form issuance at $0.0008 per share which will be automatically expired in the event that the Company repays the convertible promissory notes prior to its maturity date. (See Note 5) The note was discounted for original issued discount of $9,000 and a derivative on warrants of $31,000 for an aggregate discount of $40,000, which is being amortized over the life of the note using the effective interest method resulting in $2,740 of debt discount amortization for the year ended December 31, 2021. As of June 30, 2022, the note is presented at $22,575, net of debt discount of $17,425.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">During the six months ended June 30, 2022 and 2021, interest expense of $26,183 and $28,603 was incurred on the promissory notes. As of June 30, 2022 and December 31, 2021, accrued interest payable on the promissory note was $59,191 and $33,008, respectively.</p> | ||
boty |
Schedule Of Promissory Notes Payable
ScheduleOfPromissoryNotesPayable
|
<table cellpadding="0" style="border-spacing:0;text-align:left;font:10pt times new roman;width:100%"><tbody><tr style="height:15px"><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="hdcell" colspan="2" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:center;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>June 30, 2022</strong></p></td><td style="PADDING-BOTTOM: 1px;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="hdcell" colspan="2" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:center;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>December 31, 2021</strong></p></td><td style="PADDING-BOTTOM: 1px;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px"><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" colspan="2" style="width:9%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" colspan="2" style="width:9%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px">Promissory Notes to Auctus Fund</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">340,000</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">340,000</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#ffffff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px">Less Debt Discount</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="BORDER-BOTTOM: 1px solid;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:right;">(17,424</td><td style="PADDING-BOTTOM: 1px;width:1%;vertical-align:bottom;white-space: nowrap;">)</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="BORDER-BOTTOM: 1px solid;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:right;">(89,183</td><td style="PADDING-BOTTOM: 1px;width:1%;vertical-align:bottom;white-space: nowrap;">)</td></tr><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px">Total Promissory Notes</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="BORDER-BOTTOM: 3px double;width:1%;vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="BORDER-BOTTOM: 3px double;width:9%;vertical-align:bottom;text-align:right;">322,576</td><td style="PADDING-BOTTOM: 3px;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="BORDER-BOTTOM: 3px double;width:1%;vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="BORDER-BOTTOM: 3px double;width:9%;vertical-align:bottom;text-align:right;">250,817</td><td style="PADDING-BOTTOM: 3px;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr></tbody></table> | ||
CY2022Q2 | boty |
Promissory Notes To Auctus Fund
PromissoryNotesToAuctusFund
|
340000 | usd |
CY2021Q4 | boty |
Promissory Notes To Auctus Fund
PromissoryNotesToAuctusFund
|
340000 | usd |
CY2022Q2 | us-gaap |
Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
|
17424 | usd |
CY2021Q4 | us-gaap |
Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
|
89183 | usd |
CY2022Q2 | us-gaap |
Notes Payable
NotesPayable
|
322576 | usd |
CY2021Q4 | us-gaap |
Notes Payable
NotesPayable
|
250817 | usd |
CY2021Q1 | us-gaap |
Debt Conversion Original Debt Amount1
DebtConversionOriginalDebtAmount1
|
35000 | usd |
CY2021Q1 | boty |
Warrants Derivative Amount
WarrantsDerivativeAmount
|
265000 | usd |
CY2021Q1 | boty |
Debt Instrument Aggregate Discount
DebtInstrumentAggregateDiscount
|
300000 | usd |
CY2021Q1 | us-gaap |
Convertible Long Term Notes Payable
ConvertibleLongTermNotesPayable
|
248077 | usd |
CY2021Q4 | us-gaap |
Debt Conversion Original Debt Amount1
DebtConversionOriginalDebtAmount1
|
9000 | usd |
CY2021Q4 | boty |
Warrants Derivative Amount
WarrantsDerivativeAmount
|
31000 | usd |
CY2021Q4 | boty |
Debt Instrument Aggregate Discount
DebtInstrumentAggregateDiscount
|
40000 | usd |
CY2021Q4 | us-gaap |
Convertible Long Term Notes Payable
ConvertibleLongTermNotesPayable
|
2740 | usd |
CY2022Q2 | us-gaap |
Convertible Notes Payable Current
ConvertibleNotesPayableCurrent
|
555421 | usd |
CY2021Q4 | us-gaap |
Convertible Notes Payable Current
ConvertibleNotesPayableCurrent
|
549010 | usd |
CY2017 | boty |
Converted Shares
ConvertedShares
|
111460000 | shares |
CY2017 | us-gaap |
Interest Expense
InterestExpense
|
35607 | usd |
CY2021Q4 | us-gaap |
Derivative Liabilities
DerivativeLiabilities
|
5323107 | usd |
boty |
Addition Of New Derivative Liabilities Upon Issuance Of Convertible Notes As Debt Discount
AdditionOfNewDerivativeLiabilitiesUponIssuanceOfConvertibleNotesAsDebtDiscount
|
-34340 | usd | |
boty |
Addition Of New Derivative Liabilities Upon Issuance Of Warrants As Debt Discount
AdditionOfNewDerivativeLiabilitiesUponIssuanceOfWarrantsAsDebtDiscount
|
79340 | usd | |
boty |
Addition Of New Derivatives Liabilities Recognized As Day One Loss On Warrants
AdditionOfNewDerivativesLiabilitiesRecognizedAsDayOneLossOnWarrants
|
72101 | usd | |
us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
|
P0Y10M17D | ||
us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
|
P0Y2M26D | ||
CY2022Q2 | us-gaap |
Due From Related Parties Current
DueFromRelatedPartiesCurrent
|
500168 | usd |
CY2021Q4 | us-gaap |
Due From Related Parties Current
DueFromRelatedPartiesCurrent
|
465168 | usd |