$WBSR
Webstar Technology Group Inc. Stock $wbsr

$wbsr Overview Financials Valuation SEC Filings Company Website

2024 Q3 Form 10-Q Financial Statement

#000149315224033075 Filed on August 19, 2024

Income Statement

Concept	2024 Q3	2024 Q2	2023 Q2
Revenue
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin	$21.58K	$158.4K	$217.7K
YoY Change	-89.18%	-27.25%	-98.67%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization		$0.00	$400.00
YoY Change		-100.0%	0.0%
% of Gross Profit
Operating Expenses	$21.58K	$158.4K	$217.7K
YoY Change	-89.18%	-27.25%	-98.67%
Operating Profit	-$21.58K	-$158.4K	-$217.7K
YoY Change	-89.18%	-27.25%	-98.67%
Interest Expense	-$20.00K	-$20.00K	$14.13K
YoY Change	0.0%	-241.59%	-316.64%
% of Operating Profit
Other Income/Expense, Net	-$20.00K	-$4.042M	-$14.13K
YoY Change	0.0%	28515.29%	-99.9%
Pretax Income	-$41.58K	-$4.200M	-$231.8K
YoY Change	-81.05%	1711.91%	-99.23%
Income Tax
% Of Pretax Income
Net Earnings	-$41.58K	-$4.200M	-$231.8K
YoY Change	-81.05%	1711.91%	-99.23%
Net Earnings / Revenue
Basic Earnings Per Share	$0.00	-$0.03	$0.00
Diluted Earnings Per Share	$0.00	-$0.03	$0.00
COMMON SHARES
Basic Shares Outstanding	201.1M shares	158.3M shares	139.9M shares
Diluted Shares Outstanding	201.1M shares	161.7M shares	149.8M shares

Balance Sheet

Concept	2024 Q3	2024 Q2	2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments	$150.00	$150.00	$970.00
YoY Change	-11.76%	-84.54%	64.41%
Cash & Equivalents	$154.00	$154.00	$970.00
Short-Term Investments
Other Short-Term Assets	$7.060K	$13.72K	$10.00K
YoY Change	22.78%	37.2%	22.1%
Inventory
Prepaid Expenses	$7.061K	$13.72K	$9.998K
Receivables
Other Receivables
Total Short-Term Assets	$7.215K	$13.87K	$10.97K
YoY Change	21.98%	26.46%	24.85%
LONG-TERM ASSETS
Property, Plant & Equipment			$0.00
YoY Change			-100.0%
Goodwill
YoY Change
Intangibles	$0.00
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets	$5.00	$0.00	$800.00
YoY Change	-98.75%	-100.0%	-85.5%
TOTAL ASSETS
Total Short-Term Assets	$7.215K	$13.87K	$10.97K
Total Long-Term Assets	$5.00	$0.00	$800.00
Total Assets	$7.220K	$13.87K	$11.77K
YoY Change	14.33%	17.86%	-17.72%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$3.022K	$22.87K	$25.84K
YoY Change	-88.55%	-11.49%	-31.94%
Accrued Expenses	$35.37K	$15.36K	$2.715M
YoY Change	-98.79%	-99.43%	33.32%
Deferred Revenue
YoY Change
Short-Term Debt	$1.017M	$1.005M	$211.5K
YoY Change	351.61%	375.15%	523.74%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities	$1.055M	$1.020M	$2.952M
YoY Change	-66.67%	-65.44%	40.03%
LONG-TERM LIABILITIES
Long-Term Debt	$0.00	$0.00	$1.000M
YoY Change	-100.0%	-100.0%	-9.17%
Other Long-Term Liabilities			$0.00
YoY Change			-100.0%
Total Long-Term Liabilities	$0.00	$0.00	$1.000M
YoY Change	-100.0%	-100.0%	-9.3%
TOTAL LIABILITIES
Total Short-Term Liabilities	$1.055M	$1.020M	$2.952M
Total Long-Term Liabilities	$0.00	$0.00	$1.000M
Total Liabilities	$1.055M	$1.020M	$3.952M
YoY Change	-74.67%	-74.18%	23.09%
SHAREHOLDERS EQUITY
Retained Earnings	-$47.60M	-$47.56M	-$42.71M
YoY Change	10.9%	11.37%	2.22%
Common Stock	$20.11K	$20.11K	$15.83K
YoY Change	27.04%	27.04%	13.13%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	-$1.048M	-$1.006M	-$3.941M
YoY Change
Total Liabilities & Shareholders Equity	$7.215K	$13.87K	$11.77K
YoY Change	14.25%	17.86%	-17.72%

Cashflow Statement

Concept	2024 Q3	2024 Q2	2023 Q2
OPERATING ACTIVITIES
Net Income	-$41.58K	-$4.200M	-$231.8K
YoY Change	-81.05%	1711.91%	-99.23%
Depreciation, Depletion And Amortization		$0.00	$400.00
YoY Change		-100.0%	0.0%
Cash From Operating Activities	-$11.91K	-$20.01K	-$58.48K
YoY Change	-17.63%	-65.78%	28.19%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
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	11.90K	20.00K	55.36K
YoY Change	-12.88%	-63.87%	21.62%
NET CHANGE
Cash From Operating Activities	-11.91K	-20.01K	-58.48K
Cash From Investing Activities
Cash From Financing Activities	11.90K	20.00K	55.36K
Net Change In Cash	-10.00	-10.00	-3.120K
YoY Change	-98.75%	-99.68%	3020.0%
FREE CASH FLOW
Cash From Operating Activities	-$11.91K	-$20.01K	-$58.48K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2024
	dei	Document Transition Report DocumentTransitionReport	false
CY2024Q2	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	-4200279	usd
CY2023Q4	us-gaap	Stockholders Equity StockholdersEquity	-4371382	usd
	us-gaap	Net Income Loss NetIncomeLoss	-4425220	usd
	dei	Document Fiscal Period Focus DocumentFiscalPeriodFocus	Q2
	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--12-31
	dei	Entity Central Index Key EntityCentralIndexKey	0001645155
	dei	Document Quarterly Report DocumentQuarterlyReport	true
	dei	Document Period End Date DocumentPeriodEndDate	2024-06-30
	dei	Entity Registrant Name EntityRegistrantName	Webstar Technology Group, Inc.
	dei	Entity Incorporation State Country Code EntityIncorporationStateCountryCode	WY
	dei	Entity File Number EntityFileNumber	000-56268
	dei	Entity Tax Identification Number EntityTaxIdentificationNumber	37-1780261
	dei	Entity Address Address Line1 EntityAddressAddressLine1	1100 Peachtree St. NE
CY2024Q2	us-gaap	Accounts Payable Current AccountsPayableCurrent		usd
CY2024Q2	us-gaap	Accrued Salaries Current AccruedSalariesCurrent		usd
CY2024Q2	us-gaap	Other Liabilities Current OtherLiabilitiesCurrent		usd
CY2024Q2	us-gaap	Commitments And Contingencies CommitmentsAndContingencies		usd
CY2024Q2	us-gaap	Preferred Stock Value PreferredStockValue		usd
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CY2024Q2	us-gaap	Cost Of Revenue CostOfRevenue		usd
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CY2024Q2	us-gaap	Other Liabilities Current OtherLiabilitiesCurrent		usd
	dei	Document Type DocumentType	10-Q
	dei	Entity Address Address Line2 EntityAddressAddressLine2	Suite 200
	dei	Entity Address City Or Town EntityAddressCityOrTown	Atlanta
	dei	Entity Address State Or Province EntityAddressStateOrProvince	GA
	dei	Entity Address Postal Zip Code EntityAddressPostalZipCode	30309
	dei	City Area Code CityAreaCode	(904)
	dei	Local Phone Number LocalPhoneNumber	312-9681
	dei	Entity Current Reporting Status EntityCurrentReportingStatus	Yes
	dei	Entity Interactive Data Current EntityInteractiveDataCurrent	No
	dei	Entity Filer Category EntityFilerCategory	Non-accelerated Filer
	dei	Entity Small Business EntitySmallBusiness	true
	dei	Entity Emerging Growth Company EntityEmergingGrowthCompany	true
	dei	Entity Ex Transition Period EntityExTransitionPeriod	false
	dei	Entity Shell Company EntityShellCompany	false
CY2024Q3	dei	Entity Common Stock Shares Outstanding EntityCommonStockSharesOutstanding	201057278	shares
	dei	Entity Listing Par Value Per Share EntityListingParValuePerShare	0.0001
CY2024Q2	us-gaap	Cash Cash	154	usd
CY2024Q2	us-gaap	Prepaid Expense Current PrepaidExpenseCurrent	13716	usd
CY2024Q2	us-gaap	Assets Current AssetsCurrent	13870	usd
CY2023Q4	us-gaap	Accrued Salaries Current AccruedSalariesCurrent	3074406	usd
CY2023Q4	us-gaap	Other Liabilities Current OtherLiabilitiesCurrent	228674	usd
CY2024Q2	us-gaap	Liabilities Current LiabilitiesCurrent	1020358	usd
CY2024Q2	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.0001
CY2023Q4	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.0001
CY2024Q2	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	1000000	shares
CY2023Q4	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	1000000	shares
CY2024Q2	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.0001
CY2023Q4	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.0001
CY2024Q2	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	300000000	shares
CY2023Q4	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	300000000	shares
CY2024Q2	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	201060000	shares
CY2024Q2	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	201060000	shares
CY2023Q4	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	158271000	shares
CY2023Q4	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	158271000	shares
CY2024Q2	us-gaap	Common Stock Value CommonStockValue	20106	usd
CY2024Q2	us-gaap	Additional Paid In Capital AdditionalPaidInCapital	46536042	usd
CY2024Q2	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-47562636	usd
CY2024Q2	us-gaap	Stockholders Equity StockholdersEquity	-1006488	usd
CY2024Q2	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	13870	usd
CY2024Q2	us-gaap	Labor And Related Expense LaborAndRelatedExpense	84872	usd
CY2023Q2	us-gaap	Labor And Related Expense LaborAndRelatedExpense	193470	usd
CY2024Q2	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	73497	usd
CY2024Q2	us-gaap	Operating Expenses OperatingExpenses	158369	usd
CY2024Q2	us-gaap	Operating Income Loss OperatingIncomeLoss	-158369	usd
CY2024Q2	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	-4041910	usd
CY2024Q2	us-gaap	Net Income Loss NetIncomeLoss	-4200279	usd
CY2024Q2	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-0.03
CY2024Q2	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	-0.03
CY2023Q2	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-0.00
CY2023Q2	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	-0.00
	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-0.03
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	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-0.03
	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	-0.03
CY2024Q2	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	161719984	shares
CY2024Q2	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	161719984	shares
CY2023Q2	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	149792077	shares
CY2023Q2	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	149792077	shares
	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	161380813	shares
	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	161380813	shares
	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	144873365	shares
	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	144873365	shares
CY2024Q1	us-gaap	Net Income Loss NetIncomeLoss	-224941	usd
CY2024Q1	us-gaap	Stockholders Equity StockholdersEquity	-4596323	usd
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CY2023Q1	us-gaap	Stockholders Equity StockholdersEquity	-3892600	usd
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	us-gaap	Increase Decrease In Prepaid Expense IncreaseDecreaseInPrepaidExpense	13218	usd
	us-gaap	Increase Decrease In Prepaid Expense IncreaseDecreaseInPrepaidExpense	9500	usd
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	us-gaap	Increase Decrease In Accounts Payable IncreaseDecreaseInAccountsPayable	-18504	usd
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	us-gaap	Increase Decrease In Accrued Salaries IncreaseDecreaseInAccruedSalaries	361257	usd
	WBSR	Increase Decrease In Accrued Interest Related Party IncreaseDecreaseInAccruedInterestRelatedParty	40000	usd
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	us-gaap	Increase Decrease In Operating Lease Liability IncreaseDecreaseInOperatingLeaseLiability	-42	usd
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	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	114760	usd
	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	-16	usd
	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	792	usd
CY2023Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations	170	usd
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	us-gaap	Nature Of Operations NatureOfOperations	<p id="xdx_800_eus-gaap--NatureOfOperations_zmPw14GDHqj2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 1 - <span id="xdx_82E_zs5GQ4Cw6tE">DESCRIPTION OF BUSINESS</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 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: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Webstar Technology Group, Inc. (the “Company”) was incorporated in <span id="xdx_907_edei--EntityIncorporationStateCountryCode_c20240101__20240630_zZ3Zqpdx1bM6" title="Entity incorporation state">Wyoming</span> on <span id="xdx_909_edei--EntityIncorporationDateOfIncorporation_dd_c20240101__20240630_z91vGaXftRW9" title="Entity incorporation date">March 10, 2015</span>. The Company was established for the operation of certain licensed and purchased software solutions. Since inception, the Company signed two license agreements with a related party to license proprietary software technology solutions, i.e., Gigabyte Slayer and WARP-G. The Company has been focused in large part on organizational activities and the development of its business plans to license the Gigabyte Slayer software application that is designed to deliver live video streams, video downloads and large data files more efficiently by using new proprietary data compression technology and to license the WARP-G software solution that is designed to enable enterprise customers that transmit live video streams, video downloads and large data files to push such data over existing pipelines at higher speeds in less time also by using new proprietary data compression technology.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 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: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the quarter ended June 30, 2024, the Company entered into several material definitive agreements as summarized below:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1)</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On June 14, 2024 (“Closing”), Mr. Ricardo Haynes, Mr. Eric Collins, Mr. Lance Lehr, Ms. Tori White and Mr. Donald Keer, each as an individual (the “Purchasers”) personally acquired <span id="xdx_906_ecustom--NumberOfIssuedAndOutstandingPercentage_iI_pid_dp_uPure_c20240614__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesAPreferredStockMember_zogHxtB8w1ae" title="Number of issued and outstanding percentage">100</span>% of the issued and outstanding shares of the Series A Preferred Stock (the “Preferred Stock”) of the Company from the Frank T. Perone Irrevocable Trust (“Trust”), a Florida trust (the “Seller”), a Trust controlled by Mr. James Owens the Company’s former CEO, founder and majority stockholder. <span id="xdx_905_eus-gaap--PreferredStockVotingRights_c20240614__20240614__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesAPreferredStockMember_zPivNY8FC3z1" title="Preferred stock voting rights">The Purchasers have agreed to purchase the Preferred Stock for $500,000 due as follows: $50,000 at the execution of the letter of intent, $125,000 at the Closing, and the remaining $325,000 ninety days after the Closing. The Preferred Stock will remain held in escrow until the final payment is remitted to the Seller. Further, the Seller retains the voting rights of the Preferred Stock while in escrow. Therefore, Mr. James Owens is referred to as the controlling stockholder in this filing as the Preferred Stock remains in escrow as of the date of this filing.</span></span></td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.75in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2)</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On June 21, 2024, the Company entered into a material definitive agreement with Electrical and Compression Optimization, Inc. (“ECO”), a Wyoming corporation owned and controlled by James Owens, for the acquisition of contracts, with a net book value of zero, from the Company. In exchange for the acquisition of the contracts ECO issued <span id="xdx_90C_eus-gaap--StockIssuedDuringPeriodSharesAcquisitions_c20240621__20240621_zrxFBaTi75yf" title="Number of shares issued for acquisitions">201,057,278</span> common shares directly to the stockholders of record of the Company at the close of business June 21, 2024 on a one-to-one basis.</span></td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.75in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3)</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">One June 21, 2024, the Company entered into a material definitive agreement with Webnet Technologies Incorporated (“Webnet”), a Wyoming corporation owned and controlled by James Owens, for the acquisition of licenses for the use, development and commercialization of Gigabyte Slayer and WARP-G software. As consideration for the licenses, Webnet assumed liabilities of the Company, specifically related to accrued salaries and related expenses of $<span id="xdx_90E_eus-gaap--EmployeeBenefitsAndShareBasedCompensationNoncash_c20240621__20240621_zd6LTGUFajX9" title="Compensation expense relative to convertible note">3,317,472</span> and a cash payment of $<span id="xdx_90A_eus-gaap--AccountsPayableCurrent_iI_c20240621_zP519oD2xSje" title="Accounts payable">22,871</span> which was applied to Webstar’s accounts payable at the time of the same amount. Due to the related party nature of the transaction, the assumption of the liabilities has been recorded as an increase to additional paid in capital of $<span id="xdx_907_eus-gaap--AdjustmentsToAdditionalPaidInCapitalOther_c20240621__20240621_zOt0uLy5K6Zd" title="Assumptions of the liabilities">3,340,341</span>.</span></td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.75in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4)</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On June 24, 2024, the Company acquired the assets and intellectual property associated with the Bear Village, Inc. family resort developments from Thunder Energies Corporation, an entity owned and controlled by the Purchasers of the Company’s Preferred Stock. As of June 30, 2024, no consideration had been provided for these acquired assets.</span></td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As a result of the sale of the Preferred Stock, discussed above, the existing officers and directors of the Company, Mr. James Owens, Mr. Michael Hendrickson, Mr. Sanford Simon, and Mr. Don Roberts, were removed and replaced by the below as of June 14, 2024.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 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: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Under the terms of the Preferred Stock purchase agreement, the Purchases were permitted to elect representatives to serve on the Board of Directors to fill the seat(s) vacated by prior directors and as new officers as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chairman/Chief Executive Officer - Mr. Ricardo Haynes</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Independent Director – Ms. Marilyn Karpoff</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Independent Director – Mr. Gordon Clinkscale</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">President – Mr. Eric Collins</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Interim CFO – Ms. Adrienne Anderson</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Secretary – Mr. Donald R. Keer</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief Operating Officer – Mr. Lance Lehr</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
	dei	Entity Incorporation State Country Code EntityIncorporationStateCountryCode	WY
	dei	Entity Incorporation Date Of Incorporation EntityIncorporationDateOfIncorporation	2015-03-10
CY2024Q2	us-gaap	Stock Issued During Period Shares Acquisitions StockIssuedDuringPeriodSharesAcquisitions	201057278	shares
CY2024Q2	us-gaap	Employee Benefits And Share Based Compensation Noncash EmployeeBenefitsAndShareBasedCompensationNoncash	3317472	usd
CY2024Q2	us-gaap	Accounts Payable Current AccountsPayableCurrent	22871	usd
CY2024Q2	us-gaap	Adjustments To Additional Paid In Capital Other AdjustmentsToAdditionalPaidInCapitalOther	3340341	usd
CY2024Q2	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-47562636	usd
CY2024Q2	WBSR	Working Capital Deficit WorkingCapitalDeficit	1006488	usd
	us-gaap	Net Income Loss NetIncomeLoss	-4425220	usd
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-75574	usd
	us-gaap	Use Of Estimates UseOfEstimates	<p id="xdx_84D_eus-gaap--UseOfEstimates_zhEhHmUw5Tx" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_867_zMyi2CWNjKGe">Use of Estimates</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 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: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of the unaudited financial statements 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 unaudited financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates. Certain of our estimates could be affected by external conditions, including those unique to our industry, and general economic conditions. It is possible that these external factors could have an effect on our estimates that could cause actual results to differ from our estimates. We re-evaluate all of our accounting estimates at least quarterly based on these conditions and record adjustments when necessary. Significant estimates made by management include the valuation of deferred tax assets and the fair value of stock issued to settle liabilities.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2024Q2	us-gaap	Cash Equivalents At Carrying Value CashEquivalentsAtCarryingValue	0	usd
CY2023Q4	us-gaap	Cash Equivalents At Carrying Value CashEquivalentsAtCarryingValue	0	usd
CY2024Q2	us-gaap	Finite Lived Intangible Asset Useful Life FiniteLivedIntangibleAssetUsefulLife	P5Y
	us-gaap	Amortization Of Intangible Assets AmortizationOfIntangibleAssets	0	usd
	us-gaap	Amortization Of Intangible Assets AmortizationOfIntangibleAssets	800	usd
CY2024Q2	us-gaap	Amortization Of Intangible Assets AmortizationOfIntangibleAssets	0	usd
CY2023Q2	us-gaap	Amortization Of Intangible Assets AmortizationOfIntangibleAssets	400	usd
CY2024Q2	us-gaap	Convertible Notes Payable ConvertibleNotesPayable	15358	usd
CY2023Q4	us-gaap	Other Liabilities Current OtherLiabilitiesCurrent	228674	usd
CY2024Q2	us-gaap	Convertible Notes Payable ConvertibleNotesPayable	15358	usd
CY2023Q4	us-gaap	Convertible Notes Payable ConvertibleNotesPayable	43989	usd
CY2024Q2	us-gaap	Employee Benefits And Share Based Compensation Noncash EmployeeBenefitsAndShareBasedCompensationNoncash	3317472	usd
CY2024Q2	us-gaap	Accounts Payable Current AccountsPayableCurrent	22871	usd
CY2024Q2	us-gaap	Adjustments To Additional Paid In Capital Other AdjustmentsToAdditionalPaidInCapitalOther	3340341	usd
CY2024Q2	us-gaap	Employee Benefits And Share Based Compensation Noncash EmployeeBenefitsAndShareBasedCompensationNoncash	3317472	usd
CY2024Q2	us-gaap	Accounts Payable Current AccountsPayableCurrent	22871	usd
CY2024Q2	us-gaap	Adjustments To Additional Paid In Capital Other AdjustmentsToAdditionalPaidInCapitalOther	3340341	usd

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2024 Q3 Form 10-Q Financial Statement

#000149315224033075 Filed on August 19, 2024

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2024 Q3 Form 10-Q Financial Statement

#000149315224033075 Filed on August 19, 2024

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Webstar Technology Group Inc. Stock $wbsr