Quarterly report pursuant to Section 13 or 15(d)

SCHEDULE OF RELATED PARTY NOTES PAYABLE (Details) (Parenthetical)

v3.22.2
SCHEDULE OF RELATED PARTY NOTES PAYABLE (Details) (Parenthetical)
6 Months Ended 12 Months Ended
Jan. 02, 2021
USD ($)
Oct. 30, 2020
USD ($)
$ / shares
shares
Feb. 28, 2020
USD ($)
$ / shares
shares
Feb. 14, 2020
USD ($)
shares
Jan. 06, 2020
USD ($)
Jan. 03, 2020
USD ($)
shares
Jan. 02, 2020
USD ($)
shares
Dec. 04, 2019
USD ($)
$ / shares
shares
Sep. 18, 2018
Jun. 30, 2021
USD ($)
Jun. 30, 2020
USD ($)
Dec. 31, 2019
USD ($)
$ / shares
shares
Feb. 12, 2021
USD ($)
Dec. 15, 2020
$ / shares
shares
Jun. 26, 2020
USD ($)
May 18, 2020
USD ($)
Apr. 15, 2020
USD ($)
Feb. 14, 2020
$ / shares
Jan. 03, 2020
$ / shares
Jan. 02, 2020
$ / shares
Aug. 15, 2019
USD ($)
Sep. 17, 2018
USD ($)
Apr. 12, 2018
USD ($)
Feb. 09, 2018
USD ($)
Jan. 06, 2017
Debt interest rate                                                 5.49%
Exercise price | $ / shares                           $ 0.04                      
Warrant to purchase of common stock | shares                           1,650,000                      
Amortization of debt discount premium                   $ 122,429 $ 101,256                            
Jovian Petroleum Corporation [Member]                                                  
Ownership interest                                               25.00%  
Loan Agreement [Member]                                                  
Debt interest rate 10.00%   0.00%       10.00%           10.00%                 12.00%      
Debt face amount $ 918,049   $ 50,000       $ 1,000,000           $ 416,900                 $ 200,000      
Exercise price | (per share)   $ 0.10 $ 0.10                                 $ 0.10          
Warrant to purchase of common stock | shares   5,000,000 200,000       5,000,000                                    
Date of maturity     Mar. 01, 2022       Jun. 30, 2020   Oct. 17, 2019                                
Maturity date             Jan. 02, 2023                                    
Amortization of debt discount premium             $ 11,111                                    
Loan Agreement [Member] | Warrant [Member]                                                  
Exercise price | $ / shares   $ 0.05                                              
Warrant to purchase of common stock | shares   5,000,000                                              
Amortization of debt discount premium   $ 4,614.14                                              
Mark M Allen [Member]                                                  
Discount on notes payable - related party                   $ 100,000                              
Debt interest rate [1]                   9.00%                              
Date of maturity [1]                   Sep. 02, 2021                              
Mark M Allen [Member] | Loan Agreement [Member]                                                  
Debt interest rate 9.00%     10.00%   10.00%           12.00%                          
Debt face amount $ 245,938     $ 125,000   $ 100,000           $ 200,000                          
Shares issued on conversion of debt | shares                       2,500,000                          
Debt convertible conversion | $ / shares               $ 0.08       $ 0.08                          
Exercise price | $ / shares                                   $ 0.10 $ 0.10            
Warrant to purchase of common stock | shares       750,000   400,000                                      
Date of maturity Jun. 30, 2021     Jun. 01, 2020   Jun. 01, 2020                                      
Maturity date       Feb. 14, 2022   Jan. 03, 2023                                      
Amortization of debt discount premium       $ 38,249   $ 31,946                                      
Amortization of financing costs       $ 1,903   $ 1,775                                      
Mark M Allen [Member] | Loan Agreement [Member] | Warrant [Member]                                                  
Shares issued on conversion of debt | shares                       10,000,000                          
Exercise price | $ / shares                       $ 0.10                          
Mark M Allen [Member] | Consulting Agreement [Member]                                                  
Debt interest rate         10.00%                       9.00%                
Debt face amount         $ 135,000                       $ 55,000                
Date of maturity         Jun. 30, 2020                                        
Mark M Allen One [Member]                                                  
Discount on notes payable - related party                   $ 125,000                              
Debt interest rate [2]                   10.00%                              
Date of maturity [2]                   Jun. 30, 2021                              
Mark M Allen Two [Member]                                                  
Discount on notes payable - related party                   $ 245,000                              
Debt interest rate [3]                   12.00%                              
Date of maturity [3]                   Jun. 30, 2021                              
Jovian Petroleum Corporation [Member]                                                  
Debt interest rate [4]                   4.00%                              
Date of maturity [4]                   Dec. 31, 2021                              
Jovian Petroleum Corporation [Member] | Revolving Line of Credit Agreement [Member]                                                  
Revolving line of credit                                             $ 500,000 $ 200,000  
Debt interest rate                                               3.50%  
Ivar Siem [Member]                                                  
Debt interest rate [5]                   12.00%                              
Ivar Siem [Member] | Loan Agreement [Member]                                                  
Debt interest rate 9.00%             12.00%                         12.00%        
Debt face amount $ 278,435             $ 100,000                         $ 75,000        
Shares issued on conversion of debt | shares               1,250,000                                  
Ivar Siem [Member] | Loan Agreement [Member] | Warrant [Member]                                                  
Shares issued on conversion of debt | shares               5,000,000                                  
Exercise price | $ / shares               $ 0.10                                  
Third Party [Member] | Consulting Agreement [Member]                                                  
Debt face amount         $ 62,000                   $ 28,000 $ 45,000                  
[1] On April 15, 2020, the Company entered into an agreement, with Mark Allen, that included a funding clause where the Company borrowed $55,000 from Mr. Allen. The note bears interest at an interest rate of 9% per annum and matures on August 15, 2021.
[2] On January 6, 2020, the Company entered into a consulting agreement, with Mark Allen, that included a funding clause where the Company borrowed $135,000 ($62,000 on January 6, 2020, $45,000 on May 18, 2020, and $28,000 on June 26, 2020). The note bore interest at an interest rate of 10% per annum and matured on June 30, 2020. On March 30, 2021, this note was settled with shares of the company. More details can be found in Note 10. Equity.
[3] During 2019, the Company entered into a loan agreement in the amount of $200,000 with Mark Allen. The note bears interest at an interest rate of 12% per annum and matures on June 30, 2021. At the maturity date, the note holder has the right to collect the principal plus interest or convert into 2,500,000 shares of common stock at $0.08 per share. In addition, upon conversion, the note holder will also receive 10,000,000 warrants at an exercise price of $0.10 per share, vesting immediately with a 36-month expiration period.
[4] On February 9, 2018, the Company entered into a Revolving Line of Credit Agreement (“LOC”) for $200,000 (subsequently increased to $500,000 on April 12, 2018) with Jovian Petroleum Corporation (“Jovian”). The CEO of Jovian is Quinten Beasley, our former director (resigned October 31, 2018), and 25% of Jovian is owned by Zel C. Khan, our former CEO and director. The initial agreement was for a period of 6 months, and it can be extended for up to 5 additional terms of 6 months each. All amounts advanced pursuant to the LOC will bear interest from the date of advance until paid in full at 3.5% simple interest per annum. Interest will be calculated on a basis of a 360-day year and charged for the actual number of days elapsed. Subsequent to period-end this LOC has been extended until December 31, 2021.
[5] On August 15, 2019, the Company entered into a loan agreement in the amount of $75,000 with Ivar Siem. The note bears interest at an interest rate of 12% per annum with a four (4) month maturity. On December 4, 2019, the Company entered into a loan agreement in the amount of $100,000 with Ivar Siem. The note bears interest at an interest rate of 12% per annum with a six (6) month maturity. At the maturity date, the note holder has the right to collect the principal plus interest or convert into 1,250,000 shares of common stock at $0.08 per share. In addition, if converted, the note holder will also receive 5,000,000 warrants at an exercise price of $0.10 per share, vesting immediately with a 36-month expiration period. On February 28, 2020, the Company entered into a $50,000 loan agreement with Ivar Siem. The note does not bear any interest (0% interest rate) and is due on demand. The note includes warrants to purchase 200,000 shares of common stock (the “Loan Warrants”), at an exercise price of $0.10 per share in Canadian dollars and expire on March 1, 2022. The warrants vest and will be issued on January 1, 2021. On January 1, 2021, the Company entered into an amended loan agreement in the amount of $278,435, which combined the three previous loans, along with accrued interest. The note bears an interest rate of 9% and matures on December 21, 2021.