SUBSEQUENT EVENTS |
12 Months Ended |
|---|---|
Dec. 31, 2025 | |
| Subsequent Events [Abstract] | |
| SUBSEQUENT EVENTS | NOTE 17: SUBSEQUENT EVENTS
In January 2026, billion shares related to a note conversion from December 30, 2025 were issued. This balance is reflected as Stock to be Issued on the consolidated balance sheets as of December 31, 2025.
On January 9, 2026, the Company issued shares of common stock in settlement of accrued liabilities.
On January 19, 2026 and January 20, 2026, the Company entered into convertible promissory notes totaling $308,000 to investors at an annual interest rate of 10% maturing in one-year. The notes are convertible any time after six-months from the effective date.
On February 6, 2026, the Company issued shares of common stock in conversion of $140,000 in convertible notes.
On February 11, 2026, the Company entered into a Stock Purchase Agreement with an investor whereby the Company issued common shares for $10,000.
Between January and March, the Company paid $695,000 in License Fees to TAP, Inc. pursuant to a new license agreement being finalized.
On March 1, 2026, the Company entered into a Common Stock Purchase Agreement to issue shares of common stock for $250,000. Additionally, the Company entered into a Common Stock Purchase Agreement on March 24, 2026, to issue shares of common stock for $250,000. As of the date of filing, these shares have not been issued.
On March 24, 2026, the Company entered into an Option to Purchase Agreement with Wasatch Springs Management Holdings, LLC (“Wasatch Springs”) for the potential purchase of the Zermatt Resort in Midway, Utah (the “Option Agreement”). Pursuant to the terms of the Option Agreement, the Company acquired a 60-day option to purchase the Zermatt Resort from Wasatch Springs. The Company paid $250,000 for the option. During the 60-day option period, the Company will assume operational control of the resort, conduct due diligence related to the feasibility of the purchase, and negotiate with the resort’s creditors and debtholders regarding a potential purchase by the Company. If the Company elects to exercise the option and purchase the Zermatt Resort, the purchase price would be the appraised value of the property less any debt assumed by the Company or such other price as the parties mutually agree. The $250,000 option price would be applied toward the purchase price.
Whether the Company’s elects to exercise the option depends on a number of factors, including, but not limited to successful completion of the following: (1) standard due diligence related to the property and resort operations; (2) restructuring negotiations with Wasatch Springs and the resort’s existing creditors and debtholders; (3) capital raising discussions and plans with the Company’s funding sources; and (4) completion of preliminary renovation plans. If any of the foregoing is not successfully completed, the Company would not elect to exercise the option. If the Company does elect to exercise the option, it would do so with the intention of operating the resort and completing a renovation of the property.
In January and February 2026, the remaining $375,000 from the December 29, 2025 convertible note was received by the Company. |