2024 Q1 Form 10-Q Financial Statement
#000149315224020107 Filed on May 16, 2024
Income Statement
| Concept | 2024 Q1 | 2023 Q4 | 2023 Q1 |
|---|---|---|---|
| Revenue | $183.00 | $0.00 | $3.261K |
| YoY Change | -94.39% | -100.0% | 156.77% |
| Cost Of Revenue | $72.36K | $43.54K | $128.3K |
| YoY Change | -43.61% | -60.01% | 1735.82% |
| Gross Profit | -$72.18K | -$43.54K | -$125.1K |
| YoY Change | -42.28% | -58.24% | 2086.42% |
| Gross Profit Margin | -39443.17% | -3835.11% | |
| Selling, General & Admin | $279.4K | -$42.96K | $245.6K |
| YoY Change | 13.8% | -112.57% | -47.87% |
| % of Gross Profit | |||
| Research & Development | |||
| YoY Change | |||
| % of Gross Profit | |||
| Depreciation & Amortization | $3.542K | $1.560K | $540.00 |
| YoY Change | 555.93% | 51.46% | -47.57% |
| % of Gross Profit | |||
| Operating Expenses | $283.0K | -$42.57K | $246.1K |
| YoY Change | 14.99% | -112.42% | -47.87% |
| Operating Profit | -$355.2K | -$970.00 | -$371.2K |
| YoY Change | -4.31% | -99.78% | -22.31% |
| Interest Expense | |||
| YoY Change | |||
| % of Operating Profit | |||
| Other Income/Expense, Net | -$2.160K | ||
| YoY Change | |||
| Pretax Income | -$355.2K | $117.8K | -$371.2K |
| YoY Change | -4.31% | -126.33% | -20.54% |
| Income Tax | |||
| % Of Pretax Income | |||
| Net Earnings | -$355.2K | $117.8K | -$371.2K |
| YoY Change | -4.31% | -126.33% | -20.54% |
| Net Earnings / Revenue | -194079.23% | -11381.48% | |
| Basic Earnings Per Share | |||
| Diluted Earnings Per Share | $0.00 | $0.00 | |
| COMMON SHARES | |||
| Basic Shares Outstanding | 120.5M shares | 118.3M shares | 112.4M shares |
| Diluted Shares Outstanding | 120.5M shares | 113.1M shares |
Balance Sheet
| Concept | 2024 Q1 | 2023 Q4 | 2023 Q1 |
|---|---|---|---|
| SHORT-TERM ASSETS | |||
| Cash & Short-Term Investments | $158.3K | $304.2K | $600.4K |
| YoY Change | -73.63% | -67.35% | -68.68% |
| Cash & Equivalents | $158.3K | $304.2K | $600.4K |
| Short-Term Investments | |||
| Other Short-Term Assets | $64.79K | $93.63K | $15.63K |
| YoY Change | 314.52% | 887.66% | -41.68% |
| Inventory | |||
| Prepaid Expenses | $64.79K | $93.63K | $15.63K |
| Receivables | $118.00 | $0.00 | |
| Other Receivables | $0.00 | ||
| Total Short-Term Assets | $223.2K | $397.9K | $616.1K |
| YoY Change | -63.77% | -57.74% | -68.31% |
| LONG-TERM ASSETS | |||
| Property, Plant & Equipment | $0.00 | $0.00 | $1.018K |
| YoY Change | -100.0% | -100.0% | -78.06% |
| Goodwill | |||
| YoY Change | |||
| Intangibles | $0.00 | ||
| YoY Change | |||
| Long-Term Investments | |||
| YoY Change | |||
| Other Assets | $4.597K | $4.597K | $113.6K |
| YoY Change | -95.95% | -95.94% | -59.38% |
| Total Long-Term Assets | $109.7K | $86.54K | $115.1K |
| YoY Change | -4.64% | -24.52% | -59.52% |
| TOTAL ASSETS | |||
| Total Short-Term Assets | $223.2K | $397.9K | $616.1K |
| Total Long-Term Assets | $109.7K | $86.54K | $115.1K |
| Total Assets | $332.9K | $484.4K | $731.1K |
| YoY Change | -54.46% | -54.13% | -67.18% |
| SHORT-TERM LIABILITIES | |||
| YoY Change | |||
| Accounts Payable | $716.2K | $520.3K | $395.5K |
| YoY Change | 81.09% | 22.02% | 44.71% |
| Accrued Expenses | |||
| YoY Change | |||
| Deferred Revenue | |||
| YoY Change | |||
| Short-Term Debt | $0.00 | $0.00 | $0.00 |
| YoY Change | |||
| Long-Term Debt Due | $0.00 | $0.00 | $0.00 |
| YoY Change | |||
| Total Short-Term Liabilities | $716.2K | $520.3K | $395.5K |
| YoY Change | 81.09% | 22.02% | 44.71% |
| LONG-TERM LIABILITIES | |||
| Long-Term Debt | $0.00 | $0.00 | $0.00 |
| YoY Change | |||
| Other Long-Term Liabilities | $0.00 | ||
| YoY Change | |||
| Total Long-Term Liabilities | $0.00 | $0.00 | $0.00 |
| YoY Change | |||
| TOTAL LIABILITIES | |||
| Total Short-Term Liabilities | $716.2K | $520.3K | $395.5K |
| Total Long-Term Liabilities | $0.00 | $0.00 | $0.00 |
| Total Liabilities | $716.2K | $520.3K | $395.5K |
| YoY Change | 81.09% | 22.02% | 44.71% |
| SHAREHOLDERS EQUITY | |||
| Retained Earnings | -$10.97M | -$10.61M | -$10.12M |
| YoY Change | 8.39% | 8.87% | -224.82% |
| Common Stock | $120.5K | $119.8K | $113.1K |
| YoY Change | 6.54% | 8.0% | |
| Preferred Stock | |||
| YoY Change | |||
| Treasury Stock (at cost) | |||
| YoY Change | |||
| Treasury Stock Shares | |||
| Shareholders Equity | -$383.3K | -$35.88K | $335.6K |
| YoY Change | |||
| Total Liabilities & Shareholders Equity | $332.9K | $484.4K | $731.1K |
| YoY Change | -54.46% | -54.13% | -67.18% |
Cashflow Statement
| Concept | 2024 Q1 | 2023 Q4 | 2023 Q1 |
|---|---|---|---|
| OPERATING ACTIVITIES | |||
| Net Income | -$355.2K | $117.8K | -$371.2K |
| YoY Change | -4.31% | -126.33% | -20.54% |
| Depreciation, Depletion And Amortization | $3.542K | $1.560K | $540.00 |
| YoY Change | 555.93% | 51.46% | -47.57% |
| Cash From Operating Activities | -$119.8K | -$72.90K | -$333.2K |
| YoY Change | -64.04% | -73.61% | -35.92% |
| INVESTING ACTIVITIES | |||
| Capital Expenditures | $26.86K | $81.80K | |
| YoY Change | 15630.77% | ||
| Acquisitions | |||
| YoY Change | |||
| Other Investing Activities | $228.2K | -$460.00 | |
| YoY Change | 25538.2% | -101.25% | |
| Cash From Investing Activities | -$26.86K | $146.4K | -$495.00 |
| YoY Change | 5326.26% | 39462.16% | -101.39% |
| FINANCING ACTIVITIES | |||
| Cash Dividend Paid | |||
| YoY Change | |||
| Common Stock Issuance & Retirement, Net | |||
| YoY Change | |||
| Debt Paid & Issued, Net | |||
| YoY Change | |||
| Cash From Financing Activities | $740.00 | -1.120K | $2.219K |
| YoY Change | -66.65% | -150.45% | -133.47% |
| NET CHANGE | |||
| Cash From Operating Activities | -$119.8K | -72.90K | -$333.2K |
| Cash From Investing Activities | -$26.86K | 146.4K | -$495.00 |
| Cash From Financing Activities | $740.00 | -1.120K | $2.219K |
| Net Change In Cash | -$145.9K | 72.36K | -$331.4K |
| YoY Change | -55.98% | -126.44% | -32.5% |
| FREE CASH FLOW | |||
| Cash From Operating Activities | -$119.8K | -$72.90K | -$333.2K |
| Capital Expenditures | $26.86K | $81.80K | |
| Free Cash Flow | -$146.6K | -$154.7K | -$333.2K |
| YoY Change | -55.98% | -44.1% | -35.92% |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| CY2024Q1 | us-gaap |
Derivative Liabilities Current
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Convertible Debt Current
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Convertible Debt Current
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Earnings Per Share Diluted
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Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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Cash And Cash Equivalents At Carrying Value
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Accounts Receivable Net Current
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|
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Prepaid Expense Current
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Finite Lived Intangible Assets Net
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Liabilities
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Liabilities
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Common Stock Shares Authorized
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Common Stock Shares Authorized
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Common Stock Par Or Stated Value Per Share
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Common Stock Par Or Stated Value Per Share
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Warrants And Rights Outstanding
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Additional Paid In Capital
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Additional Paid In Capital
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Retained Earnings Accumulated Deficit
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Retained Earnings Accumulated Deficit
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Stockholders Equity
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Stockholders Equity
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Cost Of Revenue
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Cost Of Revenue
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Gross Profit
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|
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| CY2023Q1 | us-gaap |
Gross Profit
GrossProfit
|
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General And Administrative Expense Reversal
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General And Administrative Expense Reversal
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Labor And Related Expense
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Labor And Related Expense
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Depreciation And Amortization
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Professional Fees
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Net Income Loss
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Weighted Average Number Of Shares Outstanding Basic
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Weighted Average Number Of Diluted Shares Outstanding
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| CY2023Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
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Weighted Average Number Of Diluted Shares Outstanding
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| CY2024Q1 | us-gaap |
Net Income Loss
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|
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Net Income Loss
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Due From Related Party Expense
DueFromRelatedPartyExpense
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Due From Related Party Expense
DueFromRelatedPartyExpense
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| CY2024Q1 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
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| CY2023Q1 | us-gaap |
Depreciation Depletion And Amortization
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Share Based Compensation
ShareBasedCompensation
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Share Based Compensation
ShareBasedCompensation
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Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
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Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
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Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
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| CY2024Q1 | us-gaap |
Increase Decrease In Accounts Payable Related Parties
IncreaseDecreaseInAccountsPayableRelatedParties
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Increase Decrease In Accounts Payable And Other Operating Liabilities
IncreaseDecreaseInAccountsPayableAndOtherOperatingLiabilities
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| CY2023Q1 | us-gaap |
Increase Decrease In Accounts Payable And Other Operating Liabilities
IncreaseDecreaseInAccountsPayableAndOtherOperatingLiabilities
|
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Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
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Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
|
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Payments To Purchase Intangible Assets
PaymentsToPurchaseIntangibleAssets
|
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| CY2023Q1 | GMER |
Reclass Of Intangible Assets
ReclassOfIntangibleAssets
|
-456 | usd |
| CY2024Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
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| CY2023Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
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| CY2024Q1 | GMER |
Payments For Class Stock Preffered Stock
PaymentsForClassStockPrefferedStock
|
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| CY2023Q1 | GMER |
Payments For Class Stock Preffered Stock
PaymentsForClassStockPrefferedStock
|
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Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
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| CY2023Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
2219 | usd |
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Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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|
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Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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|
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Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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|
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Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
158316 | usd |
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Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
600433 | usd |
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Stockholders Equity
StockholdersEquity
|
629610 | usd |
| CY2023Q1 | us-gaap |
Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
|
77146 | usd |
| CY2023Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-371150 | usd |
| CY2023Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
335607 | usd |
| CY2023Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-35883 | usd |
| CY2023Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-35883 | usd |
| CY2024Q1 | us-gaap |
Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
|
7767.00 | usd |
| CY2024Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-355165 | usd |
| CY2024Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-383281 | usd |
| CY2024Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-383281 | usd |
| CY2024Q1 | us-gaap |
Nature Of Operations
NatureOfOperations
|
<p id="xdx_80D_eus-gaap--NatureOfOperations_zxbzxEOmyoah" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>1. <span id="xdx_828_zNuwo9Q2l0k">Nature of Operations and Continuance of Business</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Good Gaming, Inc. (formerly HDS International Corp.) (the “Company”) was incorporated on November 3, 2008, under the laws of the State of Nevada. The Company operates as a leading tournament gaming platform and online destination, targeting over 250 million esports players and participants worldwide interested in competing at the high school or college level. While a substantial portion of the Company’s activities has involved developing a business plan, establishing contacts, and gaining visibility in the marketplace, it has not generated substantial revenue to date. Beginning in 2018, the Company started deriving revenue by providing transaction verification services within the digital currency networks of cryptocurrencies. However, on December 12, 2018, the Company discontinued such transaction verification services by dissolving Crypto Strategies Group, Inc., its wholly-owned subsidiary.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In 2021, we leveraged the rise of NFTs and blockchain technologies, in our “MicroBuddies™ release,” a novel game integrating NFTs, in-game tokens (“GOO™”), and browser-based gameplay. This innovative approach allows us to generate revenue through the sale of “Nano Factory Tokens” for creating first-generation “MicroBuddies™” NFTs, along with ongoing royalties on third-party marketplace sales and fees per NFT replication.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Building on our commitment to creating innovative entertainment experiences the Company made a strategic shift to adapt to the evolving gaming landscape by shifting from legacy gaming platforms to connected mobile gaming experiences. After developing and releasing beta versions of our gaming experiences for MineCraft and Roblox in early 2023, we recognized the growth limitations inherent in both platforms. We paused continued development and exited future plans for these platforms. Our focus turned to combining mobile gaming and emerging Web3 technologies within the blockchain gaming segments.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In 2024, the Company takes a significant step forward by entering the mobile gaming market with a focus on creating character and story driven, connected entertainment experiences. Our expansion into blockchain enhanced mobile gaming experiences will allow us to capitalize on potentially immense player bases. In 1Q 2024, the company launched a new intellectual property on mobile called “Galactic Acres™” In addition to “Galactic Acres™”, we are actively expanding the “MicroBuddies™” brand beyond its initial game by creating engaging mobile experiences, but we are not stopping with just “MicroBuddies™. “Galactic Acres™” marks the beginning of a series of mobile games designed to not only offer engaging gameplay but also integrate blockchain experiences, fostering a deeper level of player engagement and exploring innovative revenue models within the mobile gaming space. By combining our existing initiatives with a focus on mobile gaming, and strategic utilization of blockchain technology, the Company is committed to a multi-pronged approach that diversifies our revenue streams across platforms and technologies while building highly recognizable character and story driven gaming experiences for our player base. We believe this proactive strategy will solidify Good Gaming’s position as a leader in the ever-evolving interactive entertainment landscape.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Player acquisition is the greatest challenge faced by any developer/publisher. In 2024, we announced our first strategic distribution partnership with ViaOne Services. As part of our partnership with ViaOne Services, we plan to distribute our mobile games to ViaOne’s large player base. Our strategic partnership with ViaOne Services will allow us to embed our mobile games into the firmware of ViaOne phones so players will not have to spend any time or effort in finding and downloading our games.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Going Concern</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">These financial statements have been prepared on a going concern basis, implying that the Company will continue to realize its assets and discharge its liabilities in the normal course of business. The Company has generated minimal revenues to date, has never paid any dividends, and is unlikely to pay dividends or generate significant earnings in the immediate or foreseeable future. As of March 31,2024, the Company had a working capital deficit of $(<span id="xdx_905_ecustom--WorkingCapital_iI_di_c20240331_zgBGpqzfZvpa" title="Working capital deficit">492,996</span>).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The continuation of the Company as a going concern is dependent upon the continued financial support from its shareholders, the ability to raise equity or debt financing, and the attainment of profitable operations from the Company’s future business. These factors raise substantial doubt regarding the Company’s ability to continue as a going concern for a period of one year from the issuance of these financial statements.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">These financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and the classification of liabilities that might be necessary should the Company be unable to continue as a going concern.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> | |
| CY2024Q1 | GMER |
Working Capital
WorkingCapital
|
-492996 | usd |
| CY2024Q1 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<p id="xdx_840_eus-gaap--UseOfEstimates_zHDYvRv0ssDj" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_861_zYbMNtCTDeMf">Use of Estimates</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of financial statements in conformity with generally accepted accounting principles in the United States 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 the financial statements and the reported amounts of revenues and expenses during the reporting period. The Company regularly evaluates estimates and assumptions related to the fair values of convertible debentures, derivative liability, stock-based compensation, and deferred income tax asset valuation allowances. The Company bases its estimates and assumptions on current facts, historical experience and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual results experienced by the Company may differ materially and adversely from the Company’s estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certain reclassifications have been made to prior-year amounts to conform to the current period presentation.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As per ASC 250-10-50-4, the effect on income from operations, net income, and any related per-share amounts of the current period should be disclosed for a change in estimate that affects several future periods and has a material impact. The adjustment in the The Company’s estimate led to a decrease of $<span id="xdx_90C_eus-gaap--GeneralInsuranceExpense_c20230101__20231231_zPSZzlhGK9kd" title="Reduction in insurance expense">266,775</span> in insurance expenses and a reduction of $<span id="xdx_904_ecustom--ReductionInNetLossPerShare_c20230101__20231231_zWuJCtwGXLdi" title="Reduction in net loss per share">0.002</span> in net loss per share for the fiscal year ending December 31,2023. The Company’s change in estimate resulted in a $<span id="xdx_90C_eus-gaap--GeneralInsuranceExpense_c20230101__20231231_zOAWH74Iru4" title="Reduction in insurance expense">266,775</span> and $<span id="xdx_904_ecustom--ReductionInNetLossPerShare_c20230101__20231231_zFMquPWsxr6" title="Reduction in net loss per share">0.002</span> reduction in insurance expense and reduction in net loss per share respectively for the year ended December 31, 2023.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> | |
| CY2023 | us-gaap |
General Insurance Expense
GeneralInsuranceExpense
|
266775 | usd |
| CY2023 | GMER |
Reduction In Net Loss Per Share
ReductionInNetLossPerShare
|
0.002 | |
| CY2023 | us-gaap |
General Insurance Expense
GeneralInsuranceExpense
|
266775 | usd |
| CY2023 | GMER |
Reduction In Net Loss Per Share
ReductionInNetLossPerShare
|
0.002 | |
| CY2024Q1 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
|
1117700 | usd |
| CY2023Q1 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
|
1121242 | usd |
| CY2024Q1 | us-gaap |
Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
|
P5Y | |
| CY2024Q1 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
1117700 | usd |
| CY2024Q1 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
10000000 | shares |
| CY2023 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
10000000 | shares |
| CY2017Q1 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.35 | pure |
| CY2024Q1 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.21 | pure |
| CY2024Q1 | us-gaap |
Marketing And Advertising Expense
MarketingAndAdvertisingExpense
|
72674 | usd |
| CY2023Q1 | us-gaap |
Marketing And Advertising Expense
MarketingAndAdvertisingExpense
|
34102 | usd |
| CY2024Q1 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
22285 | usd |
| CY2023Q1 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
22285 | usd |
| CY2024Q1 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
22285 | usd |
| CY2023Q1 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
21267 | usd |
| CY2024Q1 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
0 | usd |
| CY2023Q1 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
1018 | usd |
| CY2024Q1 | us-gaap |
Depreciation
Depreciation
|
0 | usd |
| CY2023Q1 | us-gaap |
Depreciation
Depreciation
|
540 | usd |
| CY2024Q1 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
4597 | usd |
| CY2023Q1 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
113586 | usd |
| CY2023Q1 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
1121242 | usd |
| CY2024Q1 | us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.21 | pure |
| CY2024Q1 | us-gaap |
Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
|
P5Y | |
| CY2024Q1 | us-gaap |
Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
|
108660 | usd |
| CY2024Q1 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
3542 | usd |
| CY2024Q1 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
105118 | usd |
| CY2024Q1 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.001 | |
| CY2024Q1 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
5000000 | shares |
| CY2024Q1 | us-gaap |
Convertible Preferred Stock Terms Of Conversion
ConvertiblePreferredStockTermsOfConversion
|
If all of our Series A, B and E Preferred Stock are converted into shares of common stock, the number of issued and outstanding shares of our common stock will increase by 61,672,201 shares. | |
| CY2024Q1 | us-gaap |
Common Stock Convertible Conversion Price Increase
CommonStockConvertibleConversionPriceIncrease
|
61672201 | |
| CY2024Q1 | us-gaap |
Operating Loss Carryforwards
OperatingLossCarryforwards
|
5339247 | usd |
| CY2023Q1 | us-gaap |
Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
|
77941 | usd |
| CY2023Q1 | us-gaap |
Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
|
77941 | usd |
