Form 10-Q - Quarterly report [Sections 13 or 15(d)]

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

Form 10-Q

 

☒	Quarterly Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

For the quarter ended June 30, 2024

 

☐	Transition Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

For the transition period from __________ to __________

 

Commission file number 000-55976

 

OZOP ENERGY SOLUTIONS, INC.

(Exact name of registrant as specified in its charter)

 

Nevada		3841		35-2540672
(State or Other Jurisdiction of Incorporation or Organization)		(Primary Standard Industrial Classification Number)		(IRS Employer Identification Number)

 

55 Ronald Reagan Blvd. Warwick, NY 10990 [phone]

(Address, including zip code, and telephone number, including area code, of registrant’s principal executive offices)

 

Securities registered under Section 12(b) of the Act: None

 

Securities registered pursuant to Section 12(g) of the Act: Common Stock, $0.001 par value

 

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☐ No ☒

 

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☒

 

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

 

Indicated by check mark whether the registrant has submitted electronically, if any, every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐

 

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. :

 

Large accelerated filer ☐	Accelerated filer ☐
Non-accelerated filer ☒	Smaller reporting company ☒
Emerging growth company ☐

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use to the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒

 

Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 USC. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. ☐

 

As of August 9, 2024, 6,628,031,093 shares of common stock of the registrant were outstanding.

 

 

 

 

OZOP ENERGY SOLUTIONS, INC.

CONSOLIDATED FINANCIAL STATEMENTS

Table of Contents

 

	Page
Consolidated Balance Sheets as of June 30, 2024, and December 31, 2023 (Unaudited)	F-1
Consolidated Statements of Operations for the three and six months ended June 30, 2024, and 2023 (Unaudited)	F-2
Consolidated Statements of Stockholders’ Deficit for the three and six months ended June 30, 2024, and 2023 (Unaudited)	F-3
Consolidated Statements of Cash Flows for the six months ended June 30, 2024, and 2023 (Unaudited)	F-5
Notes to Consolidated Financial Statements (unaudited)	F-6

 

2

 

OZOP ENERGY SOLUTIONS, INC.

CONSOLIDATED BALANCE SHEETS

(Unaudited)

 

 

		June 30, 2024				December 31, 2023
ASSETS
Current Assets
Cash		$	2,166,504			$	1,446,029
Prepaid expenses			95,931				75,103
Accounts receivable			29,244				168,770
Inventory			217,442				1,089,979
Total Current Assets			2,509,121				2,779,881
Operating lease right-of-use asset, net			300,954				372,451
Property and equipment, net			589,748				618,899
Other assets			13,408				13,408
TOTAL ASSETS		$	3,413,231			$	3,784,639
LIABILITIES AND STOCKHOLDERS’ DEFICIT
Liabilities
Current Liabilities
Accounts payable and accrued expenses		$	9,488,053			$	8,026,784
Convertible notes payable			25,000				25,000
Current portion of notes payable, net of discounts			19,475,000				18,837,500
Derivative liabilities			570,497				1,216,078
Operating lease liability, current portion			155,688				147,993
Deferred liability			496,075				490,495
Liabilities of discontinued operations			1,034,811				1,038,384
Total Current Liabilities			31,245,124				29,782,234
Long Term Liabilities
Notes payable, net of discount			312,683				284,203
Operating lease liability, net of current portion			156,920				236,389
TOTAL LIABILITIES			31,714,727				30,302,826
COMMITMENTS AND CONTINGENCIES
Stockholders’ Deficit
Preferred stock (10,000,000 shares authorized, par value $0.001) Series C Preferred Stock (50,000 shares authorized and 2,500 shares issued and outstanding, par value $0.001)			3				3
Series D Preferred Stock (4,570 shares authorized and 1,334 shares issued and outstanding, par value $0.001)			1				1
Series E Preferred Stock (3,000 shares authorized, -0- issued and outstanding, par value $0.001)			-				-
Common stock (8,990,000,000 shares authorized, par value $0.001; 6,628,031,093 and 5,481,513,400 shares issued and outstanding as of June 30, 2024, and December 31, 2023, respectively)			6,628,031				5,481,513
Treasury stock, at cost, 47,500 shares of Series C Preferred Stock and 18,667 shares of Series D Preferred Stock			(11,249,934	)			(11,249,934	)
Common stock to be issued; 637,755 shares			638				638
Additional paid in capital			198,490,608				198,704,849
Accumulated deficit			(221,386,066	)			(218,670,480	)
Total Ozop Energy Solutions, Inc. stockholders’ deficit			(27,516,719	)			(25,733,410	)
Noncontrolling interest			(784,777	)			(784,777	)
TOTAL STOCKHOLDERS’ DEFICIT			(28,301,496	)			(26,518,187	)
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT		$	3,413,231			$	3,784,639

 

The accompanying notes are an integral part of these consolidated financial statements.

 

F-1

 

OZOP ENERGY SOLUTIONS, INC.

CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited)

 

		For the Three Months Ended June 30,								For the Six Months Ended June 30,
		2024				2023				2024				2023
Revenue		$	941,972			$	1,241,326			$	1,193,694			$	4,032,524
Cost of revenue			823,647				1,733,892				939,092				4,128,592
Gross profit (loss)			118,325				(492,566	)			254,602				(96,068	)
Operating expenses:
General and administrative, related parties			240,000				240,000				480,000				480,000
General and administrative, other			568,172				723,070				1,296,935				1,552,832
Total operating expenses			808,172				963,070				1,776,935				2,032,832
Loss from continuing operations			(689,847	)			(1,455,636	)			(1,522,333	)			(2,128,900	)
Other (income) expenses:
Interest expense			1,056,880				1,039,676				2,113,767				2,261,209
Loss (gain) on change in fair value of derivatives			(183,576	)			942,787				(645,581	)			1,580,905
Gain on litigation settlement			(271,360	)			-				(271,360	)			-
Total Other (Income) Expenses			601,944				1,982,463				1,196,826				3,842,114
Loss from continuing operations before income taxes			(1,291,791	)			(3,438,099	)			(2,719,159	)			(5,971,014	)
Income tax provision			-				-				-				-
Net loss from continuing operations			(1,291,791	)			(3,438,099	)			(2,719,159	)			(5,971,014	)
Discontinued Operations:
Income from discontinued operations			-				5,363				3,573				10,726
Net loss		$	(1,291,791	)		$	(3,432,736	)		$	(2,715,586	)		$	(5,960,288	)
Loss from contuining operations per share of common stock basic and fully diluted		$	(0.00	)		$	(0.00	)		$	(0.00	)		$	(0.00	)
Income from discontinued operations per share of common stock basic and fully diluted		$	0.00			$	0.00			$	0.00			$	0.00
Loss per share basic and fully diluted		$	(0.00	)		$	(0.00	)		$	(0.00	)		$	(0.00	)
Weighted average shares outstanding Basic and diluted			6,224,136,201				4,892,162,699				5,947,132,280				4,863,711,391

 

The accompanying notes are an integral part of these consolidated financial statements.

 

F-2

 

OZOP ENERGY SOLUTIONS, INC.

CONSOLIDATED STATEMENT OF STOCKHOLDERS’ DEFICIT

FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2024

(Unaudited)

 

		Common stock to be issued								Series C Preferred Stock								Series D Preferred Stock								Common Stock								Treasury				Additional Paid-in				Accumulated				Noncontrolling				Total Stockholders’ Equity
		Shares				Amount				Shares				Amount				Shares				Amount				Shares				Amount				Stock				Capital				Deficit				Interest				(Deficit)
Balances January 1, 2024			637,755			$	638				2,500			$	3				1,334			$	1				5,481,513,400			$	5,481,513			$	(11,249,934	)		$	198,704,849			$	(218,670,480	)		$	(784,777	)		$	(26,518,187	)
Issuance of shares of common stock sold, net of issuance costs of $12,384			-				-				-				-				-				-				340,303,728				340,304				-				10,251				-				-				350,555
Net loss			-				-				-				-				-				-				-				-				-				-				(1,423,795	)			-				(1,423,795	)
Balances March 31, 2024			637,755				638				2,500				3				1,334				1				5,821,817,128				5,821,817				(11,249,934	)			198,715,100				(220,094,275	)			(784,777	)			(27,591,427	)
Issuance of shares of common stock sold, net of issuance costs of $19,193			-				-				-				-				-				-				806,213,965				806,214				-				(224,492	)			-				-				581,722
Net loss			-				-				-				-				-				-				-				-				-				-				(1,291,791	)			-				(1,291,791	)
Balances June 30, 2024			637,755			$	638				2,500			$	3				1,334			$	1				6,628,031,093			$	6,628,031			$	(11,249,934	)		$	198,490,608			$	(221,386,066	)		$	(784,777	)		$	(28,301,496	)

 

The accompanying notes are an integral part of these consolidated financial statements.

 

F-3

 

OZOP ENERGY SOLUTIONS, INC.

CONSOLIDATED STATEMENT OF STOCKHOLDERS’ DEFICIT

FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2023

(Unaudited)

 

		Common stock to be issued								Series C Preferred Stock								Series D Preferred Stock								Common Stock								Treasury				Additional Paid-in				Accumulated				Noncontrolling				Total Stockholders’ Equity
		Shares				Amount				Shares				Amount				Shares				Amount				Shares				Amount				Stock				Capital				Deficit				Interest				(Deficit)
Balances January 1, 2023			637,755			$	638				2,500			$	3				1,334			$	1				4,771,275,349			$	4,771,275			$	(11,249,934	)		$	197,586,824			$	(211,300,799	)		$	(784,777	)		$	(20,976,769	)
Issuance of shares of common stock sold, net of issuance costs of $19,110			-				-				-				-				-				-				107,756,783				107,757				-				418,636				-				-				526,393
Net loss			-				-				-				-				-				-				-				-				-				-				(2,527,552	)			-				(2,527,552	)
Balances March 31, 2023			637,755				638				2,500				3				1,334				1				4,879,032,132				4,879,032				(11,249,934	)			198,005,460				(213,828,351	)			(784,777	)			(22,977,928	)
Issuance of shares of common stock sold, net of issuance costs of $3,558			-				-				-				-				-				-				15,048,619				15,049				-				56,778				-				-				71,827
Net loss			-				-				-				-				-				-				-				-				-				-				(3,432,736	)			-				(3,432,736	)
Balances June 30, 2023			637,755			$	638				2,500			$	3				1,334			$	1				4,894,080,751			$	4,894,081			$	(11,249,934	)		$	198,062,238			$	(217,261,087	)		$	(784,777	)		$	(26,338,837	)

 

The accompanying notes are an integral part of these consolidated financial statements.

 

F-4

 

OZOP ENERGY SOLUTIONS, INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

 

		For the Six Months Ended June 30,
		2024				2023
Cash flows from operating activities:
Net loss from continuing operations		$	(2,719,159	)		$	(5,971,014	)
Net income from discontinued operations			3,573				10,726
Net loss			(2,715,586	)			(5,960,288	)
Adjustments to reconcile net loss to net cash used in operating activities
Non-cash interest expense			665,980				819,318
Amortization and depreciation			108,166				112,397
(Gain) loss on fair value change of derivatives			(645,581	)			1,580,905
Inventory write-down			-				625,000
Changes in operating assets and liabilities:
Accounts receivable			139,526				157,381
Inventory			872,537				647,653
Prepaid expenses			(20,829	)			(88,926	)
Vendor deposits			-				528,719
Accounts payable and accrued expenses			1,461,270				1,532,615
Deferred revenue			5,580				275
Operating lease liabilities			(71,774	)			(64,693	)
Net cash used in continuing operations			(200,711	)			(109,644	)
Net cash used in discontinued operations			(3,573	)			(10,726	)
Net cash used in operating activities			(204,284	)			(120,370	)
Cash flows from investing activities:
Purchase of office and computer equipment			(7,518	)			(2,162	)
Net cash used in investing activities			(7,518	)			(2,162	)
Cash flows from financing activities:
Proceeds from sale of common stock, net of costs			932,277				598,220
Payments of principal of notes payable			-				(550,000	)
Net cash provided by financing activities			932,277				48,220
Net increase (decrease) in cash			720,475				(74,312	)
Cash, Beginning of period			1,446,029				1,369,210
Cash, End of period		$	2,166,504			$	1,294,898
Supplemental disclosure of cash flow information:
Cash paid for interest		$	-			$	-
Cash paid for income taxes		$	-			$	-

 

The accompanying notes are an integral part of these consolidated financial statements.

 

F-5

 

OZOP ENERGY SOLUTIONS, INC.

Notes to Consolidated Financial Statements

June 30, 2024

(Unaudited)

 

NOTE 1 - ORGANIZATION

 

Business

 

Ozop Energy Solutions, Inc. (the” Company,” “we,” “us” or “our”) was originally incorporated as Newmarkt Corp. on July 17, 2015, under the laws of the State of Nevada.

 

On October 29, 2020, the Company formed a new wholly owned subsidiary, Ozop Surgical Name Change Subsidiary, Inc., a Nevada corporation (“Merger Sub”). The Merger Sub was formed under the Nevada Revised Statutes for the sole purpose and effect of changing the Company’s name to “Ozop Energy Solutions, Inc.” That same day the Company entered into an Agreement and Plan of Merger (the “Merger Agreement”) with the Merger Sub and filed Articles of Merger (the “Articles of Merger”) with the Nevada Secretary of State, merging the Merger Sub into the Company, which were stamped effective as of November 3, 2020. As permitted by the Section 92.A.180 of the Nevada Revised Statutes, the sole purpose and effect of the filing of Articles of Merger was to change the name of the Company from Ozop Surgical Corp to “Ozop Energy Solutions, Inc.”

 

On December 11, 2020, the Company formed Ozop Energy Systems, Inc. (“OES”), a Nevada corporation and a wholly owned subsidiary of the Company. OES was formed to be a manufacturer and distributor of renewable energy products.

 

On August 19, 2021, the Company formed Ozop Capital Partners, Inc. (“Ozop Capital”), a Delaware corporation and a wholly owned subsidiary of the Company. Brian Conway was appointed as the sole officer and director of Ozop Capital and has voting control of Ozop Capital.

 

On October 29, 2021, EV Insurance Company, Inc. (“EVCO”) was formed as a captive insurance company in the State of Delaware. EVCO is a wholly owned subsidiary of Ozop Capital. On January 7, 2022, EVCO filed with New Castle County, Delaware DBA OZOP Plus.

 

On February 25, 2022, the Company formed Ozop Engineering and Design, Inc. (“OED”) a Nevada corporation, as a wholly owned subsidiary of the Company. OED was formed to become a premier engineering and lighting control design firm. OED offers product and design support for lighting and solar projects with a focus on fast lead times and technical support. OED and our partners are able to offer the resources needed for lighting, solar and electrical design projects. OED will provide customers systems to coordinate the understanding of electrical usage with the relationship between lighting design and lighting controls, by developing more efficient ecofriendly designs. We work with architects, engineers, facility managers, electrical contractors and engineers.

 

On June 11, 2024, the Company formed Automated Room Controls, Inc. (“ARC”) a Nevada corporation, as a wholly owned subsidiary of the Company. ARC was created to address a significant need in the lighting controls industry. ARC’s personnel has extensive experience in lighting controls since 2012, bringing together IT specialists and lighting control experts.

 

We believe that easy deployment and creative applications can transform lighting controls into essential tools for enhancing the utility and ambiance of any space. The Company’s mission is to deliver cutting-edge technology that simplifies complex control needs, ensuring seamless integration and exceptional performance.

 

On May 5, 2023, the Board of Directors of the Company approved to amend the Company’s Articles of Incorporation (the “2023 Amendment”) to increase the authorized capital stock of the Company to 7,000,000,000 shares, of which 6,990,000,000 shall be authorized as common shares and 10,000,000 shall be authorized as preferred shares. The Company filed the 2023 Amendment with the State of Nevada on June 23, 2023.

 

On June 4, 2024, the Board of Directors of the Company approved to amend the Company’s Articles of Incorporation (the “2024 Amendment”) to increase the authorized capital stock of the Company to 9,000,000,000 shares, of which 8,990,000,000 shall be authorized as common shares and 10,000,000 shall be authorized as preferred shares. The Company filed the 2024 Amendment with the State of Nevada on July 22, 2024.

 

F-6

 

NOTE 2 – GOING CONCERN AND MANAGEMENT’S PLANS

 

The accompanying unaudited consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. As of June 30, 2024, the Company had an accumulated deficit of $221,386,066 and a working capital deficit of $28,736,003 (including derivative liabilities of $570,497). As of June 30, 2024, the Company was in default of $3,315,000 plus accrued interest on debt instruments due to non-payment upon maturity dates. These factors, among others, raise substantial doubt about the ability of the Company to continue as a going concern for one year from the date of the issuance of these financial statements. The accompanying financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classification of liabilities that may result from the possible inability of the Company to continue as a going concern.

 

Management’s Plans

 

As a public company, Management believes it will be able to access the public equities market for fund raising for product development, sales and marketing and inventory requirements as we expand our distribution in the U.S. market.

 

On May 2, 2023, the Company entered into an Equity Financing Agreement (the “Financing Agreement”) and Registration Rights Agreement (the “Registration Rights Agreement”) with GHS. Under the terms of the Financing Agreement, GHS has agreed to provide the Company with up to $10,000,000 of funding upon effectiveness of a registration statement on Form S-1. Pursuant to the effectiveness of the registration statement on July 19, 2023, the Company has the right to deliver puts to GHS and GHS will be obligated to purchase shares of our common stock based on the investment amount specified in each put notice. The maximum amount that the Company shall be entitled to put to GHS in each put notice will not exceed two hundred fifty percent (250%) of the average of the daily trading dollar volume of the Company’s common stock during the ten (10) trading days preceding the put, so long as such amount does not exceed 4.99% of the outstanding shares of the Company. Pursuant to the Financing Agreement, GHS and its affiliates will not be permitted to purchase, and the Company may not put shares of the Company’s common stock to GHS that would result in GHS’s beneficial ownership equaling more than 4.99% of the Company’s outstanding common stock. The price of each put share shall be equal to eighty percent (80%) of the lowest daily volume weighted average price of the Company’s common stock for the ten (10) consecutive trading days preceding the date on which the applicable put is delivered to GHS. No put will be made in an amount equaling less than $10,000 or greater than $750,000. Puts may be delivered by the Company to GHS until the earlier of twenty-four (24) months after the effectiveness of the registration statement on Form S-1 or the date on which GHS has purchased an aggregate of $10,000,000 worth of put shares. During the year ended December 31, 2023, the Company sold to GHS 587,432,649 shares of common stock and received $1,230,043 net of offering costs. During the six months ended June 30, 2024, the Company sold to GHS 146,517,693 shares of common stock for proceeds of $172,117 net of offering costs.

 

On January 26, 2024, the Company receive a Notice of Effectiveness for the sale of up to One Billion (1,000,000,000) shares of the Company’s common stock to GHS, pursuant to the May 2, 2023, Financing Agreement and Registration Rights Agreement. The terms and conditions are similar to the terms and conditions of the July 19, 2023, registration statement. During the six months ended June 30, 2024, the Company sold to GHS 1,000,000,000 shares of common stock and received $760,160, net of offering costs.

 

OES operates in the renewable, electric vehicle (“EV”), energy storage and energy resiliency sectors. We are engaged in multiple business lines that include project development as well as equipment distribution.

 

Equipment Distributor: In April 2021, the Company signed a five-year lease (beginning June 1, 2021) of approximately 8,100 SF in California, for office and warehouse space to support the sales and distribution of our west coast operations. On February 22, 2023, with an effective date of March 1, 2023, the Company entered into a Sublease for a Single Subleasee Agreement (the “Sublease”) with the landlord and a third party for the office and warehouse in Carlsbad California. Pursuant to the Sublease agreement, the third party will be responsible for all of the Company’s lease obligations through May 31, 2026, the lease termination date. The Company and the subleasee have agreed to work together regarding any existing Company inventory in the facility. OES currently is focused on solar panel sales to other distributors and large installation companies.

 

F-7

 

Modular Energy Distribution System: The Neo-Grid^TM System comprises of the design engineering, installation, and operational methodologies as well as the financial arbitrage of how we produce, capture and distribute electrical energy for the EV markets. The Company has acquired the license rights to the Neo-Grid^TM System, a proprietary system (patent pending), for the capture and distribution of electrical energy for the EV market. The Neo-Grid^TM System will serve both the private auto and the commercial sectors. Our Neo-Grid^TM System offers (1) charging locations that can be installed with reduced delays, restricted areas or load limits and (2) EV charger electricity that is produced from renewable sources claiming little to no carbon footprint.

 

The Company has developed a business plan for the Neo-Grid^TM System for the distribution of electrical energy providing a solution to the inevitable stress to the existing grid infrastructure. The Company has completed its’ research and development of the Neo-Grid^TM System as well as completed the first set of engineered technical drawings. This first stage of the engineered technical drawings allows us to move forward with stage two, as well as to begin to construct the first prototype or proof of concept, (“PoC”). Our PoC design is partially reliant on auto manufacturers establishing standardizations of the actual charging/discharging protocols of the batteries such as on-board inverters as well as bi-directional capabilities in electric vehicles, which have only recently been established.

 

Ozop Plus markets vehicle service contracts (“VSC’s”) for electric vehicles (EV’s) that offer consumers to be able to purchase additional months and miles above the manufacturer’s warranty and to also bring added value to EV owners by utilizing our partnerships and strengths in the energy market to offer unique and innovative services. Among EV owners’ concerns are the EV battery repair and replacement costs, range anxiety, environmental responsibilities, roadside assistance, and the accelerated wear on additional components that EV vehicles experience. Management believes that the Ozop Plus marketed VSC’s will give “peace of mind” to the EV buyer.

 

ARC is developing products to be an advanced lighting controls system, intricately engineered to integrate sophisticated wired and wireless technologies. At its core, it employs a hybrid network topology that facilitates both resilient wired connections and flexible wireless communications, making it suitable for complex infrastructural environments. The system is equipped with an array of sensors and control nodes, enabling precise light management and energy usage monitoring. With support for protocols such as DALI and Zigbee, alongside the capability for seamless integration with IoT platforms, ARC offers a comprehensive solution for intricate lighting networks. This system is designed not just for control and efficiency, but also for adaptability to diverse architectural and electrical layouts, embodying a technical solution for advanced, energy-conscious lighting management.

 

NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

 

Basis of Presentation

 

The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial statements and with the instructions to Form 10-Q and Article 8 of Regulation S-X of the SEC. Accordingly, they do not contain all information and footnotes required by accounting principles generally accepted in the United States of America for annual financial statements. In the opinion of the Company’s management, the accompanying unaudited consolidated financial statements contain all the adjustments necessary (consisting only of normal recurring accruals) to present the financial position of the Company as of June 30, 2024, and the results of operations and cash flows for the periods presented. The results of operations for the three and six months ended June 30, 2024, are not necessarily indicative of the operating results for the full fiscal year or any future period. These unaudited consolidated financial statements should be read in conjunction with the financial statements and related notes thereto included in the Company’s Current Report on Form 10-K filed on April 16, 2024.

 

The unaudited consolidated financial statements include the accounts of the Company and Ozop Energy Systems, Inc. and the Company’s other wholly owned subsidiaries Ozop Capital Partners, Inc., Ozop Engineering and Design, Inc., Automated Room Controls, Inc., Power Conversion Technologies, Inc. (“PCTI”), Ozop LLC, Ozop HK and Spinus, LLC (“Spinus”). All intercompany accounts and transactions have been eliminated in consolidation. The accompanying unaudited consolidated financial statements are prepared in accordance with Generally Accepted Accounting Principles in the United States of America (“US GAAP”).

 

F-8

 

Use of Estimates

 

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amount of revenues and expenses during the reported period. Actual results could differ from those estimates.

 

Cash and Cash Equivalents

 

The Company considers all highly liquid investments with an original term of three months or less to be cash equivalents. These investments are carried at cost, which approximates fair value. Cash and cash equivalent balances may, at certain times, exceed federally insured limits. The Company has no cash equivalents at June 30, 2024, and December 31, 2023.

 

Sales Concentration and credit risk

 

Following is a summary of customers who accounted for more than ten percent (10%) of the Company’s revenues for the three and six months ended June 30, 2024, and 2023, and their accounts receivable balance as of June 30, 2024:

  

		Sales % Three Months Ended June 30, 2024				Sales % Six Months Ended June 30, 2024				Sales % Three Months Ended June 30, 2023				Sales % Six Months Ended June 30, 2023				Accounts receivable balance June 30, 2024
Customer A			91.4	%			72.1	%			N/A				N/A			$	-
Customer B			N/A				18.9	%			N/A				N/A			$	9,000
Customer C			N/A				N/A				84.4	%			93.1	%		$	-
Customer D			N/A				N/A				13.1	%			N/A			$	-

 

Accounts Receivable

 

The Company records accounts receivable at the time products and services are delivered. An allowance for losses is established through a provision for losses charged to expenses. Receivables are charged against the allowance for losses when management believes collectability is unlikely. The allowance (if any) is an amount that management believes will be adequate to absorb estimated losses on existing receivables, based on evaluation of the collectability of the accounts and prior loss experience.

 

Inventory

 

Inventories are valued at the lower of cost or net realizable value, with cost determined on the first-in, first-out basis. Inventory costs consist of finished goods. In evaluating the net realizable value of inventory, management also considers, if applicable, other factors, including known trends, market conditions, currency exchange rates and other such issues. Finished goods inventories as of June 30, 2024, and December 31, 2023, were $217,442 and $1,089,979, respectively. Based on current market conditions related to solar panels including but not limited to reduced selling prices in the industry and the abundance of inventory supply in the market, management determined that the net realizable value of certain of the Company’s inventory required a lower of cost or market adjustment of $1,495,978 to the historical cost of inventory purchases for the year ended December 31, 2023 (of which $625,000 was recorded as of June 30, 2023). There are no inventory markdowns for the three and six months ended June 30, 2024.

 

F-9

 

Purchase concentration

 

OES purchases finished renewable energy products from its suppliers. For the three and six months ended June 30, 2023, there was one supplier that accounted for 100%. For the three and six months ended June 30, 2024, the Company made no purchases.

 

Property, plant, and equipment

 

Property and equipment are stated at cost, and depreciation is provided by use of a straight-line method over the estimated useful lives of the assets.

 

The Company reviews property and equipment for potential impairment whenever events or changes in circumstances indicate that the carrying amounts of assets may not be recoverable. The estimated useful lives of property and equipment is as follows:

  

	Building	10-25 years
	Office furniture and equipment	3-5 years
	Warehouse equipment	7 years

 

Revenue Recognition

 

The Company recognizes revenue in accordance with ASC 606, from the commercial sales of products or providing services by: (1) identify the contract (if any) with a customer; (2) identify the performance obligations in the contract (if any); (3) determine the transaction price; (4) allocate the transaction price to each performance obligation in the contract (if any); and (5) recognize revenue when each performance obligation is satisfied. The Company has no outstanding contracts with any of its’ customers. The Company recognizes revenue when title, ownership, and risk of loss pass to the customer, all of which occurs upon shipment or delivery of the product and is based on the applicable shipping terms for product sales or upon delivery of service to the customer for installation services. Any advance payments are recorded as current liability until revenue is recognized.

 

For product sales contracts with customers, ownership of the goods and associated revenue are transferred to customers at a point in time, generally upon shipment of a product to the customer or receipt of the product by the customer and without significant judgments. For the periods covered herein, we did not have post shipment obligations such as training or installation, customer acceptance provisions, credits and discounts, rebates and price protection, or other similar privileges.

 

For installation services contracts with customers, the Company invoices the customer upon completion of the job and recognizes revenue based on the invoiced amount.

 

The following table disaggregates our revenue by major source for the three and six months ended June 30, 2024, and 2023:

  

		Three months ended June 30,								Six months ended June 30,
		2024				2023				2024				2023
Sourced and distributed products		$	879,552			$	1,213,826			$	954,774			$	3,972,624
OED Installations			62,420				27,500				238,920				59,900
Total		$	941,972			$	1,241,326			$	1,193,694			$	4,032,524

 

Revenues from sourced and distributed products were previously purchased from suppliers as finished goods and were either in the Carlsbad warehouse or in a third-party warehouse.

 

F-10

 

Advertising and Marketing Expenses

 

The Company expenses advertising and marketing costs as incurred. For the three and six months ended June 30, 2024, the Company recorded advertising and marketing expenses of $12,878 and $28,549, respectively. For the three and six months ended June 30, 2023, the Company recorded advertising and marketing expenses of $13,398 and $31,170, respectively.

 

Convertible Instruments

 

The Company evaluates and accounts for conversion options embedded in convertible instruments in accordance with ASC 815, Derivatives and Hedging Activities.

 

Applicable GAAP requires companies to bifurcate conversion options from their host instruments and account for them as free-standing derivative financial instruments according to certain criteria. The criteria include circumstances in which (a) the economic characteristics and risks of the embedded derivative instrument are not clearly and closely related to the economic characteristics and risks of the host contract, (b) the hybrid instrument that embodies both the embedded derivative instrument and the host contract is not re-measured at fair value under other GAAP with changes in fair value reported in earnings as they occur and (c) a separate instrument with the same terms as the embedded derivative instrument would be considered a derivative instrument.

 

The Company accounts for convertible instruments (when it has been determined that the embedded conversion options should not be bifurcated from their host instruments) as follows: The Company records, when necessary, discounts to convertible notes for the intrinsic value of conversion options embedded in debt instruments based upon the differences between the fair value of the underlying common stock at the commitment date of this note transaction and the effective conversion price embedded in this note. Debt discounts under these arrangements are amortized over the term of the related debt to their stated date of redemption.

 

The Company accounts for the conversion of convertible debt when a conversion option has been bifurcated using the general extinguishment standards. The debt and equity linked derivatives are removed at their carrying amounts and the shares issued are measured at their then-current fair value, with any difference recorded as a gain or loss on extinguishment of the two separate accounting liabilities.

 

Discontinued Operations

 

In accordance with ASC 205-20 Presentation of Financial Statements: Discontinued Operations, a disposal of a component of an entity or a group of components of an entity is required to be reported as discontinued operations if the disposal represents a strategic shift that has (or will have) a major effect on an entity’s operations and financial results when the components of an entity meet the criteria in paragraph 205-20-45-10. In the period in which the component meets held-for-sale or discontinued operations criteria the major current assets, other assets, current liabilities, and noncurrent liabilities shall be reported as components of total assets and liabilities separate from those balances of the continuing operations. At the same time, the results of all discontinued operations, less applicable income taxes (benefit), shall be reported as components of net income (loss) separate from the net income (loss) of continuing operations.

 

On September 1, 2022, the BOD of the Company authorized the filing of a Chapter 7 proceeding which meets the definition of a discontinued operation. Accordingly, the operating results of PCTI are reported as income from discontinued operations in the accompanying unaudited consolidated financial statements for the three and six months ended June 30, 2024, and 2023. For additional information, see Note 14- Discontinued Operations.

 

Distinguishing Liabilities from Equity

 

The Company relies on the guidance provided by ASC Topic 480, Distinguishing Liabilities from Equity, to classify certain redeemable and/or convertible instruments. The Company first determines whether a financial instrument should be classified as a liability. The Company will determine the liability classification if the financial instrument is mandatorily redeemable, or if the financial instrument, other than outstanding shares, embodies a conditional obligation that the Company must or may settle by issuing a variable number of its equity shares.

 

Once the Company determines that a financial instrument should not be classified as a liability, the Company determines whether the financial instrument should be presented between the liability section and the equity section of the balance sheet (“temporary equity”). The Company will determine temporary equity classification if the redemption of the financial instrument is outside the control of the Company (i.e. at the option of the holder). Otherwise, the Company accounts for the financial instrument as permanent equity.

 

F-11

 

Our CEO and Chairman holds sufficient shares of the Company’s voting preferred stock that give sufficient voting rights under the articles of incorporation and bylaws of the Company such that the CEO and Chairman can at any time unilaterally vote to increase the number of authorized shares of common stock of the Company, without the need to call a general meeting of common shareholders of the Company.

 

Initial Measurement

 

The Company records its financial instruments classified as liability, temporary equity, or permanent equity at issuance at the fair value, or cash received.

 

Subsequent Measurement – Financial Instruments Classified as Liabilities

 

The Company records the fair value of its financial instruments classified as liabilities at each subsequent measurement date. The changes in the fair value of its financial instruments classified as liabilities are recorded as other income (expenses).

 

Fair Value of Financial Instruments

 

The Company measures assets and liabilities at fair value based on an expected exit price as defined by the authoritative guidance on fair value measurements, which represents the amount that would be received on the sale of an asset or paid to transfer a liability, as the case may be, in an orderly transaction between market participants. As such, fair value may be based on assumptions that market participants would use in pricing an asset or liability. The authoritative guidance on fair value measurements establishes a consistent framework for measuring fair value on either a recurring or nonrecurring basis whereby inputs, used in valuation techniques, are assigned a hierarchical level.

 

The following are the hierarchical levels of inputs to measure fair value:

 

	●	Level 1 - Observable inputs that reflect quoted market prices in active markets for identical assets or liabilities.
	●	Level 2 - Inputs reflect quoted prices for identical assets or liabilities in markets that are not active; quoted prices for similar assets or liabilities in active markets; inputs other than quoted prices that are observable for the assets or liabilities; or inputs that are derived principally from or corroborated by observable market data by correlation or other means.
	●	Level 3 - Unobservable inputs reflecting the Company’s assumptions incorporated in valuation techniques used to determine fair value. These assumptions are required to be consistent with market participant assumptions that are reasonably available.

 

From time to time, certain of the Company’s embedded conversion features on debt and outstanding warrants have been treated as derivative liabilities for accounting purposes under ASC 815 due to insufficient authorized shares to fully settle conversion features of the instruments if exercised. In this case, the Company utilized the latest inception date sequencing method to reclassify outstanding instruments as derivative instruments. These contracts were recognized at fair value with changes in fair value recognized in earnings until such time as the conditions giving rise to such derivative liability classification were settled.

 

The carrying amounts of the Company’s financial assets and liabilities, such as cash, prepaid expenses, other current assets, accounts payable and accrued expenses and certain notes payable, approximate their fair values because of the short maturity of these instruments.

 

F-12

 

The following table represents the Company’s derivative instruments that are measured at fair value on a recurring basis as of June 30, 2024, and December 31, 2023, for each fair value hierarchy level:

  

June 30, 2024		Derivative Liabilities				Total
Level I		$	-			$	-
Level II		$	-			$	-
Level III		$	570,497			$	570,497

 

December 31, 2023		Derivative Liabilities				Total
Level I		$	-			$	-
Level II		$	-			$	-
Level III		$	1,216,078			$	1,216,078

 

Leases

 

The Company accounts for leases under ASU 2016-02 (see Note 13), applying the package of practical expedients to leases that commenced before the effective date whereby the Company elected to not reassess the following: (i) whether any expired or existing contracts contain leases; (ii) the lease classification for any expired or existing leases; and (iii) initial direct costs for any existing leases. For contracts entered into on or after the effective date, at the inception of a contract the Company assess whether the contract is, or contains, a lease. Our assessment is based on: (1) whether the contract involves the use of a distinct identified asset, (2) whether we obtain the right to substantially all the economic benefit from the use of the asset throughout the period, and (3) whether we have the right to direct the use of the asset. We allocate the consideration in the contract to each lease component based on its relative stand-alone price to determine the lease payments.

 

Operating lease ROU assets represent the right to use the leased asset for the lease term and operating lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at commencement date. As most leases do not provide an implicit rate, the Company used an incremental borrowing rate of 7.5% for the existing lease, based on the information available at the adoption date in determining the present value of future payments. Operating lease expense is recognized pursuant to on a straight-line basis over the lease term and is included in rent in the unaudited consolidated statements of operations.

 

Income Taxes

 

Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance on deferred tax assets is established when management considers it is more likely than not that some portion or all of the deferred tax assets will not be realized.

 

Tax benefits from an uncertain tax position are only recognized if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position are measured based on the largest benefit that has a greater than fifty percent likelihood of being realized upon ultimate resolution. Interest and penalties related to unrecognized tax benefits are recorded as incurred as a component of income tax expense. The Company has not recognized any tax benefits from uncertain tax positions for any of the reporting periods presented.

 

Segment Policy

 

The Company has no reportable segments as it operates in one segment: renewable energy.

 

F-13

 

Earnings (Loss) Per Share

 

The Company reports earnings (loss) per share in accordance with ASC 260, “Earnings per Share.” Basic earnings (loss) per share is computed by dividing net income (loss) by the weighted-average number of shares of common stock outstanding during each period. Diluted earnings per share is computed by dividing net income (loss) by the weighted-average number of shares of common stock, common stock equivalents and other potentially dilutive securities outstanding during the period. As of June 30, 2024, and 2023, the Company’s dilutive securities are convertible into approximately 11,700,915,235 and 8,508,178,172 shares of common stock respectively. The following table represents the classes of dilutive securities as of June 30, 2024, and 2023:

  

		June 30, 2024				June 30, 2023
Convertible preferred stock (1)			9,942,046,640				7,341,121,127
Unexercised common stock purchase warrants (1)			807,024,518				1,047,024,518
Convertible notes payable (1)			89,035,858				11,023,739
Promissory notes payable (1)			862,808,219				109,008,788
			11,700,915,235				8,508,178,172

 

(1)

The potentially dilutive shares included in the above table are limited whereby the conversion or exercise cannot result in the beneficial owner holding more than 4.99% of the then outstanding shares of common stock subsequent to any conversion or exercise. These shares were excluded from the diluted per share calculation because the effect of including these potential shares was anti-dilutive due to the Company’s net loss position.

 

Recent Accounting Pronouncements

 

In August 2020, the FASB issued Accounting Standards Update (“ASU”) No. 2020-06, Debt - Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging —Contracts in Entity’ Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’ Own Equity (“ASU 2020-06”), which simplifies accounting for convertible instruments by removing major separation models required under current GAAP. The ASU also removes certain settlement conditions that are required for equity-linked contracts to qualify for the derivative scope exception, and it simplifies the diluted earnings per share calculation in certain areas. The Company does not believe the adoption of the ASU will have a material impact on the Company’s financial position, results of operations or cash flows.

 

Other than the above, there have been no recent accounting pronouncements or changes in accounting pronouncements during the period ended June 30, 2024, that are of significance or potential significance to the Company.

 

NOTE 4 – PROPERTY AND EQUIPMENT

 

The following table summarizes the Company’s property and equipment:

  

		June 30, 2024				December 31, 2023
Office equipment		$	232,251			$	224,733
Building and building improvements			600,000				600,000
Less: Accumulated Depreciation			(242,503	)			(205,834	)
Property and Equipment, Net		$	589,748			$	618,899

 

Depreciation expenses were $19,213 and $36,669 for the three and six months ended June 30, 2024, and $22,994 and $46,016 for the three and six months ended June 30, 2023, respectively.

 

NOTE 5 - CONVERTIBLE NOTES PAYABLE

 

On July 10, 2020, PCTI (the accounting acquirer) assumed the balance of a past-due 15% convertible note issued by the Company on September 13, 2017. As of June 30, 2024, and December 31, 2023, the outstanding principal balance of this note was $25,000.

 

F-14

 

NOTE 6 – DERIVATIVE LIABILITIES

 

The Company determined the conversion feature of the convertible notes, which all contain variable conversion rates, represented an embedded derivative since the notes were convertible into a variable number of shares upon conversion. Accordingly, the notes are not considered to be conventional debt under ASC 815 and the embedded conversion feature was bifurcated from the debt host and accounted for as a derivative liability.

 

At any given time, certain of the Company’s embedded conversion features on debt and outstanding warrants may be treated as derivative liabilities for accounting purposes under ASC 815-40 due to insufficient authorized shares to settle these outstanding contracts. Pursuant to SEC staff guidance that permits a sequencing approach based on the use of ASC 815-15-25 which provides guidance for contracts that permit partial net share settlement. The sequencing approach may be applied in one of two ways: contracts may be evaluated based on (1) earliest issuance date or (2) latest maturity date. Pursuant to the sequencing approach, the Company evaluates its contracts based upon the latest maturity date.

 

The Company valued the derivative liabilities as of June 30, 2024, and December 31, 2023, at $570,497 and $1,216,078 respectively. For the derivative liability associated with convertible notes, the Company used the Monte Carlo simulation valuation model with the following assumptions as of June 30, 2024, and December 31, 2023, risk free interest rates at 5.33% and 5.26%, respectively, and volatility of 113% and 48%, respectively.

 

The following assumptions were utilized in the Black-Scholes valuation of outstanding warrants as of June 30, 2024, and December 31, 2023, risk free interest rates of 4.63% to 5.33%, and 4.3% to 5.26%, respectively, volatility of 113% to 134%, and 48% to 99%, respectively, and exercise prices of $0.0019 to $0.039, and $0.0019 to $0.15, respectively.

 

A summary of the activity related to derivative liabilities for the six months ended June 30, 2024, is as follows:

  

		Derivative liabilities associated with warrants				Derivative liabilities associated with convertible notes				Total derivative liabilities
Balance January 1, 2024		$	1,187,076			$	29,002			$	1,216,078
Change in fair value			(651,334	)			5,753				(645,581	)
Balance June 30, 2024		$	535,742			$	34,755			$	570,497

 

NOTE 7 – NOTES PAYABLE

 

The Company has the following notes payable outstanding:

  

		June 30, 2024				December 31, 2023
Note payable, interest at 8% or 20% (if default), matured January 5, 2020, currently in default		$	45,000			$	45,000
Other, due on demand, interest at 6%, currently in default			50,000				50,000
Note payable $750,000 face value, interest at 12% or 24% (if default), matured August 24, 2021, currently in default			375,000				375,000
Note payable $389,423 face value, interest at 15%, matures November 6, 2025, net of discount of $76,740 (2024) and $105,220 (2023)			312,683				284,203
Note payable $1,000,000 face value, interest at 12% or 24% (if default), matured November 13, 2021, currently in default			1,000,000				1,000,000
Note payable $2,200,000 face value, interest at 15%, matures October 31, 2024, net of discount of $56,667 (2024) and $141,667 (2023)			2,143,333				2,058,333
Note payable $11,110,000 face value, interest at 15%, matures October 31, 2024, net of discount of $283,333 (2024) and $708,333 (2023)			10,826,667				10,401,667
Note payable $3,300,000 face value, interest at 15%, matures October 31, 2024, net of discount of $85,000 (2024) and $212,500 (2023)			3,215,000				3,087,500
Note payable $3,020,000 face value, matured March 31, 2023, currently in default			1,820,000				1,820,000
Sub-total notes payable, net of discount			19,787,683				19,121,703
Less long-term portion, net of discount			312,683				284,203
Current portion of notes payable, net of discount		$	19,475,000			$	18,837,500

 

On November 11, 2022, the Company entered into a non-interest bearing, $3,020,000 face value promissory note with a third-party lender with scheduled weekly payments and a maturity date of March 31, 2023. In exchange for the issuance of the $3,020,000 note, inclusive of an original issue discount of $250,000, and the reclass of $260,000 from accounts payable and accrued expenses the Company received proceeds of $2,510,000 on November 11, 2022, from the lender. For the six months ended June 30, 2023, amortization of the original issue discount of $181,818 was charged to interest expense. The original issue discount of $250,000 has been fully amortized as of March 31, 2023. The Company has repaid total $1,200,000 of the principal of the note through June 30, 2024, including $250,000 during the year ended December 31, 2022, and $950,000 during the year ended December 31, 2023 (among which, $550,000 was repaid during the six months ended June 30, 2023). As of June 30, 2024, and December 31, 2023, the outstanding principal balance of this note was $1,820,000 and $1,820,000, respectively. The Company is in default on the weekly payments. The Company is currently in discussions with the lender regarding an extension of the maturity date.

 

F-15

 

On December 7, 2021, the Company entered into a 12%, $3,300,000 face value promissory note with a third-party lender with a maturity date of December 7, 2022. In exchange for the issuance of the $3,300,000 note, inclusive of an original issue discount of $300,000, the Company received proceeds of $3,000,000 on December 13, 2021, from the lender. On October 31, 2022, the maturity date of the note was extended to October 31, 2024, and the interest rate was increased to 15% per annum. The Company issued 75,000,000 warrants at an exercise price of $0.0067 and with an expiration of October 31, 2025, in exchange for the extension. The warrants were valued at $510,000 by the Black-Scholes option pricing method and will be amortized through the new maturity date of the note. The Company determined that this transaction was a modification of the existing note. For the three and six months ended June 30, 2024, and 2023, $63,750 and $127,500 was charged to interest expense. As of June 30, 2024, and December 31, 2023, the outstanding principal balance of this note was $3,300,000 with carrying values of $3,215,000 and $3,087,500, respectively, net of unamortized discounts of $85,000 and $212,500 as of June 30, 2024, and December 31, 2023, respectively.

 

On March 17, 2021, the Company entered into a 12%, $11,110,000 face value promissory note with a third-party lender with a maturity date of March 17, 2022. In exchange for the issuance of the $11,110,000 note, inclusive of an original issue discount of $1,000,000 and lender costs of $110,000 the Company received proceeds of $10,000,000 on March 23, 2021, from the lender. On October 31, 2022, the maturity date of the note was extended to October 31, 2024, and the interest rate was increased to 15% per annum. The Company issued 250,000,000 warrants at an exercise price of $0.0067 and with an expiration of October 31, 2025, in exchange for the extension. The warrants were valued at $1,700,000 by the Black-Scholes option pricing method and will be amortized through the new maturity date of the note. The Company determined that this transaction was a modification of the existing note. For the three and six months ended June 30, 2024, and 2023, $212,500 and $425,000 was charged to interest expense. As of June 30, 2024, and December 31, 2023, the outstanding principal balance of this note was $11,110,000 with a carrying value of $10,826,667 and $10,401,667, respectively, net of unamortized discounts of $283,333 and $708,333, respectively.

 

On February 9, 2021, the Company entered into a 12%, $2,200,000 face value promissory note with a third-party lender with a maturity date of February 9, 2022. In exchange for the issuance of the $2,200,000 note, inclusive of an original issue discount of $200,000 the Company received proceeds of $2,000,000 on February 16, 2021, from the lender. On October 31, 2022, the maturity date of the note was extended to October 31, 2024, and the interest rate was increased to 15% per annum. The Company issued 50,000,000 warrants at an exercise price of $0.0067 and with an expiration of October 31, 2025, in exchange for the extension. The warrants were valued at $340,000 by the Black-Scholes option pricing method and will be amortized through the new maturity date of the note. The Company determined that this transaction was a modification of the existing note. For the three and six months ended June 30, 2024, and 2023, $42,500 and $85,000 was charged to interest expense. As of June 30, 2024, and December 31, 2023, the outstanding principal balance of this note was $2,200,000 with a carrying value of $2,143,333 and $2,058,333, respectively, net of unamortized discounts of $56,667 and $141,667, respectively.

 

On November 13, 2020, the Company entered into a 12%, $1,000,000 face value promissory note with a third-party due November 13, 2021. Principal payments shall be made in six instalments of $166,667 commencing 180 days from the issue date and continuing each 30 days thereafter for 5 months and the final payment of principal and interest due on the maturity date. The Company received proceeds of $890,000 on November 20, 2020, and the Company reimbursed the investor for expenses for legal fees and due diligence of $110,000. In conjunction with this note, the Company issued 2 common stock purchase warrants; each warrant entitles the Holder to purchase 125,000,000 shares of common stock at an exercise price of $0.008, subject to adjustments and expires on the five-year anniversary of the issue date. As of June 30, 2024, and December 31, 2023, the outstanding principal balance of this note was $1,000,000. This note is in default and the interest rate from the date of default is the lesser of 24% or the highest amount permitted by law. As of June 30, 2024, and December 31, 2023, the accrued interest is $735,452 and $615,452, respectively. The Company is in discussions with the lender regarding the extension of the maturity date of this note.

 

On November 6, 2020, the Company entered into a Settlement Agreement with the holder of $120,000 of convertible notes with accrued and unpaid interest of $8,716 and a $210,000 Promissory Note dated June 23, 2020, with accrued and unpaid interest of $15,707. The Company issued a new 12% Promissory Note with a face value of $389,423 and a maturity date of November 6, 2023. In conjunction with this settlement, the Company issued a warrant to purchase 60,000,000 shares of common stock at an exercise price of $0.0075, subject to adjustments and expires on the five-year anniversary of the issue date. The Company analyzed the transaction and concluded that this was a modification to the existing debt. The investor exercised the warrant on January 14, 2021. On November 6, 2023, the maturity date of the note was extended to November 6, 2025, and the interest rate was increased to 15% per annum. The Company issued 60,000,000 warrants at an exercise price of $0.0019 and with an expiration of November 6, 2026, in exchange for the extension. The warrants were valued at $113,921 by the Black-Scholes option pricing method and will be amortized through the new maturity date of the note. The Company determined that this transaction was a modification of the existing note. For the three and six months ended June 30, 2024, $14,240 and $28,480 was charged to interest expense. As of June 30, 2024, and December 31, 2023, the outstanding principal balance of this note was $389,423 with a carrying value of $312,683 and $284,203, respectively, net of unamortized discounts of $76,740 and $105,220, respectively.

 

On August 24, 2020 (the “Issue Date”), the Company entered into a 12%, $750,000 face value promissory note with a third-party (the “Holder”) due August 24, 2021 (the “Maturity Date”). Principal payments shall be made in six instalments of $125,000 commencing 180 days from the Issue Date and continuing each 30 days thereafter for 5 months and the final payment of principal and interest due on the Maturity Date. The Holder shall have the right from time to time, and at any time following an event of default, as defined on the agreement, to convert all or any part of the outstanding and unpaid principal, interest and any other amounts due into fully paid and non-assessable shares of common stock of the Company, at the lower of i) the Trading Price (as defined in the agreement) during the previous five trading days prior to the Issuance Date or ii) the volume weighted average price during the five trading days ending on the day preceding the conversion date. The Company received proceeds of $663,000 on August 25, 2020, and the Company reimbursed the investor for expenses for legal fees and due diligence of $87,000. In conjunction with this Note, the Company issued 2 common stock purchase warrants; each warrant entitles the Holder to purchase 122,950,819 shares of common stock at an exercise price of $0.0061, subject to adjustments and expires on the five-year anniversary of the Issue Date. As of June 30, 2024, and December 31, 2023, the outstanding principal balance of this note was $375,000. This note is in default and the interest rate from the date of default is the lesser of 24% or the highest amount permitted by law. As of June 30, 2024, and December 31, 2023, the accrued interest is $315,247 and $270,247, respectively. The Company is in discussions with the lender regarding the extension of the maturity date of this note.

 

F-16

 

NOTE 8 – DEFERRED LIABILITY

 

On September 2, 2020, PCTI entered into an agreement with a third-party. Pursuant to the terms of the agreement, in exchange for $750,000, PCTI agreed to pay the third-party a perpetual three percent (3%) payment of revenues, as defined in the agreement. Payments are due ninety (90) days after each calendar quarter, with the first payment due on or before March 31, 2021, for revenues for the quarter ending December 31, 2020. On February 26, 2021, the agreement was assigned to Ozop and on March 4, 2021, the note was amended, whereby in exchange for 175,000,000 shares of common stock, the royalty percentage was amended to 1.8%.

 

No payments have been made and the Company is in default of the agreement. On November 11, 2022, the third-party and the Company agreed to reduce the liability by $260,000 and add $260,000 to the promissory note issued on November 11, 2022.

 

EV Insurance Company records premiums received from the issuance of Vehicle Service Contracts (“VSC’s”) as a deferred liability. The Company will analyze the deferred liability to determine if any amounts can be recorded as income with the balance remaining in deferred liabilities for potential future claims. As of June 30, 2024, and December 31, 2023, the Company has recorded $6,075 and $495 as deferred liabilities related to VSC’s.

 

The deferred liability as of June 30, 2024, and December 31, 2023, on the consolidated balance sheets is $496,075 and $490,495, respectively.

 

NOTE 9 – RELATED PARTY TRANSACTIONS

 

Employment Agreement

 

On July 10, 2020, pursuant to the PCTI transaction, the Company assumed an employment contract entered into on February 28, 2020, between the Company and Mr. Conway (the “Employment Agreement”). Mr. Conway’s compensation as adjusted was $20,000 per month. Effective January 1, 2022, the Company entered into a new employment agreement with Mr. Conway. Pursuant to the agreement, Mr. Conway will receive annual compensation of $240,000 from the Company and will also be eligible to receive bonuses and equity grants at the discretion of the BOD. The Company also agreed to compensate Mr. Conway for services provided directly to any of the Company’s subsidiaries. Currently, the subsidiaries of Ozop Capital, OES and OED, each compensates Mr. Conway $20,000 per month. For the three and six months ended June 30, 2024, the Company recorded expenses to Mr. Conway of $240,000 and $480,000, respectively. For the three and six months ended June 30, 2023, the Company recorded expenses of $240,000 and $480,000, respectively.

 

NOTE 10 – COMMITMENTS AND CONTINGENCIES

 

Agreements

 

On September 1, 2021, Ozop Capital entered into an advisory agreement (the “RMA Agreement”) with Risk Management Advisors, Inc. (“RMA”). Pursuant to the terms of the RMA Agreement, RMA will assist Ozop Capital in analyzing, structuring, and coordinating Ozop Capital’s participation in a captive insurance company. RMA will coordinate legal, accounting, tax, actuarial and other services necessary to implement the Company’s participation in a captive insurance company, including, but not limited to, the preparation of an actuarial feasibility study, filing of all required regulatory applications, domicile selection, structural selection, and coordination of the preparation of legal documentation. The fee for these services was $100,000. Ozop Capital agreed to pay $50,000 and to issue $50,000 of shares of restricted common stock. The parties agreed to a reduced fee of $48,000 for the years ended December 31, 2023, and 2024, which has been accrued as of June 30, 2024 ($96,000), and December 31, 2023 ($48,000), and is included in accounts payable and accrued expenses on the consolidated balance sheets presented herein. As of June 30, 2024, and December 31, 2023, the Company has recorded 637,755 shares of common stock to be issued for the balance owed, in addition to the $48,000.

 

On March 4, 2019, the Company entered into a Separation Agreement (the “Separation Agreement”) with Salman J. Chaudhry, pursuant to which the Company agreed to pay Mr. Chaudry $227,200 (the “Outstanding Fees”) in certain increments as set forth in the Separation Agreement. As of June 30, 2024, and December 31, 2023, the balance owed Mr. Chaudhry is $162,085.

 

On September 2, 2020, PCTI entered into an Agreement with a third-party. Pursuant to the terms of the agreement, in exchange for $750,000, PCTI agreed to pay the third-party a perpetual three percent (3%) payment of revenues, as defined in the agreement. On February 26, 2021, the agreement was assigned to Ozop and on March 4, 2021, the agreement was amended, whereby in exchange for 175,000,000 shares of common stock, the royalty percentage was amended to 1.8% (see Note 8). As of June 30, 2024, and December 31, 2023, the Company has recorded $243,272, respectively, and is included in accounts payable and accrued expenses on the consolidated balance sheets presented herein.

 

F-17

 

Legal matters

 

We know of no material, existing or pending legal proceedings against our Company.

 

We are involved as a plaintiff in a Complaint filed in the SUPERIOR COURT OF THE STATE OF CALIFORNIA FOR THE COUNTY OF SAN DIEGO NORTH COUNTY (the “Complaint”) on November 14, 2022. The Complaint alleges that former employees would place an order from a customer for purchase of product from OZOP with funds the exact source of which is presently unknown. OZOP alleges that next, the customer would sell that product to OZOP’s customers at a price marked up from the price for which the customer purchased from OZOP – to the benefit of Defendants and to the detriment of OZOP, their employer at the time. The Complaint further alleges that the former employees falsely represented that the price the customer was obtaining from other suppliers and therefore was willing to pay for OZOP product decreased, which allowed them to use the customer to then sell additional product to OZOP’s customers at increasingly larger margins, thus further wrongfully enriching themselves to the detriment of their employer, OZOP. The lawsuit also alleges that the employees were also making false statements to Ozop’s customers regarding the financial condition of Ozop and the lack of module inventory.

 

On April 4, 2024, the Company executed a Settlement Agreement (the “Settlement”) with its former employees and Your Home Solutions Corp (“YHS”). YHS and the former employees were all defendants (the “Defendants”) in the Complaint. Pursuant to the terms of the Settlement, the Defendants paid the Company $1,125,000 during the six months ended June 30, 2024. In exchange, the Company agreed to release all Defendants from the lawsuit and to deliver 11 containers of solar panels. Upon the receipt of the $1,125,000 and the delivery of the 11 containers, and pursuant to the Settlement, the Company recorded sales of $728,640, a credit of $125,000 to legal expense and for the three and six months ended June 30, 2024, recorded a gain on litigation settlement of $271,360.

 

There are no proceedings in which any of our directors, officers or affiliates, or any registered or beneficial shareholder, is an adverse party or has a material interest adverse to our interest.

 

NOTE 11 – STOCKHOLDERS’ EQUITY

 

Common stock

 

During the six months ended June 30, 2024, the Company issued 1,146,517,693 shares of common stock and received net proceeds of $932,277 after issuance costs of $31,577, as follows:

 

On January 8, 2024, the Company sold 85,134,032 shares to GHS at $0.00128 and received net proceeds of $105,767, after deducting transaction and broker fees of $3,204.

 

On January 25, 2024, the Company sold 61,383,661 shares to GHS at $0.00112 and received net proceeds of $66,350, after deducting transaction and broker fees of $2,400.

 

On February 12, 2024, the Company sold 60,722,962 shares to GHS at $0.00104 and received net proceeds of $60,864, after deducting transaction and broker fees of $2,288.

 

On February 28, 2024, the Company sold 62,124,323 shares to GHS at $0.00096 and received net proceeds of $57,422, after deducting transaction and broker fees of $2,218.

 

On March 14, 2024, the Company sold 70,938,750 shares to GHS at $0.00088 and received net proceeds of $60,152, after deducting transaction and broker fees of $2,274.

 

F-18

 

On April 2, 2024, the Company sold 85,671,625 shares to GHS at $0.0008 and received net proceeds of $66,142, after deducting transaction and broker fees of $2,396.

 

On April 17, 2024, the Company sold 92,097,313 shares to GHS at $0.00064 and received net proceeds of $56,738, after deducting transaction and broker fees of $2,204.

 

On May 3, 2024, the Company sold 120,517,054 shares to GHS at $0.00056 and received net proceeds of $65,114, after deducting transaction and broker fees of $2,374.

 

On May 20, 2024, the Company sold 271,390,910 shares to GHS at $0.00088 and received net proceeds of $233,023, after deducting transaction and broker fees of $5,801.

 

On June 10, 2024, the Company sold 196,731,306 shares to GHS at $0.00072 and received net proceeds of $136,764, after deducting transaction and broker fees of $4,883.

 

On June 27, 2024, the Company sold 39,805,757 shares to GHS at $0.00064 and received net proceeds of $23,941, after deducting transaction and broker fees of $1,535.

 

During the three months ended June 30, 2023, the Company issued 15,048,619 shares of common stock and received net proceeds of $71,827 after issuance costs of $3,558. During the six months ended June 30, 2023, the Company issued 122,805,402 shares of common stock and received net proceeds of $598,220 after issuance costs of $22,668.

 

The Company has 8,990,000,000 shares of $0.001 par value common stock authorized (effective July 22, 2024, see Note 1 and Note 16) and as of June 30, 2024, there are 6,628,031,093 shares of common stock issued and outstanding.

 

Preferred stock

 

As of June 30, 2024, 10,000,000 shares have been authorized as preferred stock, par value $0.001 (the “Preferred Stock”), which such Preferred Stock shall be issuable in such series, and with such designations, rights and preferences as the Board of Directors may determine from time to time.

 

Series C Preferred Stock

 

On July 7, 2020, the Company filed an Amended and Restated Certificate of Designation with the State of Nevada of the Company’s Series C Preferred Stock. Under the terms of the Amendment to Certificate of Designation of Series C Preferred Stock, 50,000 shares of the Company’s preferred remain designated as Series C Preferred Stock. The holders of Series C Preferred Stock have no conversion rights and no dividend rights. For so long as any shares of the Series C Preferred Stock remain issued and outstanding, the Holder thereof, voting separately as a class, shall have the right to vote on all shareholder matters equal to sixty-seven (67%) percent of the total vote. As of June 30, 2024, and December 31, 2023, there were 2,500 shares of Series C Preferred Stock issued and outstanding and the shares are held by Mr. Conway.

 

Series D Preferred Stock

 

On July 7, 2020, the Company filed a Certificate of Designation with the State of Nevada of the Company’s Series D Preferred Stock. On July 10, 2020, pursuant to the SPA with PCTI, the Company issued 18,667 shares of Series D preferred Stock to Chis, and on August 28, 2020, pursuant to Mr. Conway’s employment agreement, the Company issued 1,333 shares of Series D Preferred Stock to Mr. Conway. On July 13, 2021, the Company purchased 18,667 shares of the Company’s Series D Preferred Stock held by Chis.

 

F-19

 

On July 27, 2021, the Company filed with the Secretary of State of the State of Nevada an Amended and Restated Certificate of Designation of Series D Preferred Stock (the “Series D Amendment”). Under the terms of the Series D Amendment, 4,570 shares of the Company’s preferred stock will be designated as Series D Convertible Preferred Stock. The holders of the Series D Convertible Preferred Stock shall not be entitled to receive dividends. Any holder may, at any time convert any number of shares of Series D Convertible Preferred Stock held by such holder into a number of fully paid and nonassessable shares of common stock determined by multiplying the number of issued and outstanding shares of common stock of the Company on the date of conversion, by 1.5 and dividing that number by the number of authorized shares of Series D Convertible Preferred Stock and multiply that result by the number of shares of Series D Convertible Preferred Stock being converted. Except as provided in the Series D Amendment or as otherwise required by law, no holder of the Series D Convertible Preferred Stock shall be entitled to vote on any matter submitted to the shareholders of the Company for their vote, waiver, release or other action. The Series D Convertible Preferred Stock shall not bear any liquidation rights. On July 28, 2021, the Company closed on a Stock and Warrant Purchase Agreement (the “Series D SPA”). Pursuant to the terms of Series D SPA, an investor in exchange for $13,200,000 purchased one share of Series D Preferred Stock, and a warrant to acquire 3,236 shares of Series D Preferred Stock. As of June 30, 2024, and December 31, 2023, there were 1,334 shares, respectively, of Series D Preferred Stock issued and outstanding and a warrant to purchase 3,236 shares of Series D Preferred Stock are outstanding as of June 30, 2024, and December 31, 2023.

 

The warrant has a 15- year term and Partial Warrant Lock Up and Leak-Out Period. The Holder may only exercise the Warrant and purchase Warrant Shares as follows:

 

	i.	Up to 162 (one hundred and sixty-two) Warrant Shares, at any time or times on or after five (5) business days from the closing of the Series D SPA (“the Initial Exercise Date”) subject to up to a maximum number of Warrant Shares that, if converted, would be equal to no more than a maximum of 4.99% of the total number of outstanding shares of Common Stock of the Company and no later than on or before the 15th year anniversary of the Initial Exercise Date (“the Termination Date”); and
	ii.	The Remainder of the Warrant representing up to 3,074 (three thousand and seventy-four) Warrant Shares (“Remaining Warrant Shares”) shall be locked up for a period of 36 (thirty-six) months from the Initial Exercise Date (“Lock Up Period”) and shall become exercisable at any time or times from the date that is the 36 (thirty-six) month anniversary of the Initial Exercise Date (“Lock Up Period Termination Date”) and no later than on or before the Termination Date, as follows:

 

a.

During every 1 (one) year period, starting on the day that is the Lock Up Period Termination Date, the Holder shall have the right to exercise the Remainder of the Warrant up to a maximum number of Remaining Warrant Shares that, if converted, would be equal to no more than a maximum of 4.99% of the total number of outstanding shares of Common Stock of the Company during such given year (“Leak-Out Period”). The Leak-Out Period shall come into effect on the day that is the Lock Up Period Termination Date and remain effective on a yearly basis, for a period of 10 (ten) years thereafter, after which the Leak-Out Period will automatically terminate and become null and void. For clarity purposes the Remainder of the Warrant shall become freely exercisable at any time or times beginning on June 29, 2034, and until the Termination Date.

 

Series E Preferred Stock

 

On July 7, 2020, the Company filed a Certificate of Designation with the State of Nevada of the Company’s Series E Preferred Stock. Under the terms of the Certificate of Designation of Series E Preferred Stock, 3,000 shares of the Company’s preferred stock have been designated as Series E Preferred Stock. The holders of the Series E Convertible Preferred Stock shall not be entitled to receive dividends. No holder of the Series E Preferred Stock shall be entitled to vote on any matter submitted to the shareholders of the Corporation for their vote, waiver, release or other action, except as may be otherwise expressly required by law. At any time, the Corporation may redeem for cash out of funds legally available therefor, any or all of the outstanding Preferred Stock (“Optional Redemption”) at $1,000 (one thousand dollars) per share. The shares of Series E Preferred Stock have not been registered under the Securities Act of 1933 or the laws of any state of the United States and may not be transferred without such registration or an exemption from registration. As of June 30, 2024, and December 31, 2023, there were -0- shares of Series E Preferred Stock issued and outstanding, respectively.

 

F-20

 

NOTE 12 – NONCONTROLLING INTEREST

 

On August 19, 2021, the Company formed Ozop Capital. The Company initially owned 51% with PJN Holdings, LLC (“PJN”) owning 49%. Brian Conway was appointed as the sole officer and director of Ozop Capital and has voting control of Ozop Capital. The Company presents interest held by noncontrolling interest holders within noncontrolling interest in the unaudited consolidated financial statements. On September 13, 2022, there was a change in the ownership percentages, as PJN returned 490,000 shares, representing their 49% ownership. As of that date, Ozop Capital is a wholly owned subsidiary of the Company. As of June 30, 2024, and December 31, 2023, the accumulative noncontrolling interest is $784,777.

 

NOTE 13 - OPERATING LEASE RIGHT-OF-USE ASSETS AND OPERATING LEASE LIABILITIES

 

On April 14, 2021, the Company entered into a five-year lease which began on June 1, 2021, for approximately 8,100 square feet of office and warehouse space in Carlsbad, California, expiring May 31, 2026. Initial lease payments of $13,148 begin on June 1, 2021, and increase by approximately 2.4% annually thereafter. The interest rate used to determine the present value is our incremental borrowing rate, estimated to be 7.5%, as the interest rate implicit in most of our leases is not readily determinable. During the year ended December 31, 2021, upon adoption of ASC Topic 842, the Company recorded right-of-use assets and lease liabilities of $702,888 for this lease. On February 22, 2023, with an effective date of March 1, 2023, the Company entered into a Sublease for a Single Subleasee Agreement (the “Sublease”) with the landlord and a third party for the office and warehouse in Carlsbad California. Pursuant to the Sublease agreement, the third party will be responsible for all of the Company’s lease obligations through May 31, 2026, the lease termination date. The Company and the subleasee have agreed to work together regarding any existing Company inventory in the facility.

 

In adopting Topic 842, the Company has elected the ‘package of practical expedients’, which permit it not to reassess under the new standard its prior conclusions about lease identification, lease classification and initial direct costs. The Company did not elect the use-of-hindsight or the practical expedient pertaining to land easements; the latter is not applicable to the Company. In addition, the Company elected not to apply ASC Topic 842 to arrangements with lease terms of 12 months or less.

 

Right-of-use assets are summarized below:

		June 30, 2024				December 31, 2023
Office and warehouse lease		$	702,888			$	702,888
Less: Accumulated amortization			(401,934	)			(330,437	)
Right-of-use assets, net		$	300,954			$	372,451

 

Operating lease liabilities are summarized as follows:

		June 30, 2024				December 31, 2023
Lease liability		$	312,608			$	384,382
Less current portion			(155,688	)			(147,993	)
Long term portion		$	156,920			$	236,389

 

Maturity of lease liabilities are as follows:

		Amount
For the year ending December 31, 2024 (remaining period)		$	86,760
For the year ending December 31, 2025			175,942
For the year ending December 31, 2026			74,030
Total		$	336,732
Less: present value discount			(24,124	)
Lease liability		$	312,608

 

The Company recorded a credit of $306 and $277 to operating lease expense (after netting off the sublease income) for the three and six months ended June 30, 2024, and $681, and $29,382 for the three and six months ended June 30, 2023, respectively.

 

F-21

 

NOTE 14 – DISCONTINUED OPERATIONS

 

On September 1, 2022, the BOD of the Company authorized the filing of a Chapter 7 proceeding which meets the definition of a discontinued operation. Accordingly, the operating results of PCTI are reported as income from discontinued operations in the accompanying unaudited consolidated financial statements for the three and six months ended June 30, 2024, and 2023. On October 3, 2022, PCTI filed a Voluntary Petition for Non- Individuals Filing for Bankruptcy. On November 30, 2022, the Trustee filed a Notice of Abandonment of Estate Property, as it is over encumbered by the secured creditors. No objections were filed, and as such the inventory and equipment is now considered abandoned to the secured creditors to do with what they wish. In March 2023, the Trustee declared this a no-asset case and closed the bankruptcy.

 

The results of operations of this component, for all periods, are separately reported as “discontinued operations”. A reconciliation of the major classes of line items constituting the income (loss) from discontinued operations, net of income taxes as is presented in the unaudited Consolidated Statements of Operations for the three and six months ended June 30, 2024, and 2023, are summarized below:

 

		Three months ended June 30,								Six months ended June 30,
		2024				2023				2024				2023
Revenues		$	-			$	5,363			$	3,573			$	10,726
Cost of goods sold			-				-				-				-
Gross profit			-				5,363				3,573				10,726
Operating expenses			-				-				-				-
Interest expense			-				-				-				-
Income from discontinued operations		$	-			$	5,363			$	3,573			$	10,726

 

There are no assets as of June 30, 2024, and December 31, 2023, as the secured lender has taken possession. Liabilities of discontinued operations are separately reported as of June 30, 2024, and December 31, 2023. All liabilities are classified as current. The following tables present the reconciliation of carrying amounts of the major classes of liabilities of the Company classified as discontinued operations in the consolidated balance sheets at June 30, 2024, and December 31, 2023:

 

Current liabilities

 

		June 30, 2024				December 31, 2023
Accounts payable and accrued liabilities		$	445,565			$	445,565
Current portion of notes payable			589,246				589,246
Deferred revenues			-				3,573
Total current liabilities of discontinued operations		$	1,034,811			$	1,038,384

 

On May 16, 2022, Huntington National Bank (“Huntington”) filed a Complaint for Confession of Judgment (“COJ”) against Catherine Chis (“Chis”). Chis was the former CEO of PCTI and a Guarantor on Huntington’s Letter of Credit financing (“LOC”) and a Term Loan (“Term Loan”). The Chis COJ for the LOC was $352,415 and accrues per diem interest of $63.65, and the Chis COJ for the Term Loan was $141,415 and accrues per diem interest of $28.60. On June 24, 2022, Huntington filed a COJ against Power Conversion Technologies, Inc (“PCTI”). The PCTI COJ for the LOC was for $354,774 and accrues per diem interest of $63.65 and the PCTI COJ for the LOC was for $142,473 and accrues per diem interest of $28.60. On July 20, 2022, Huntington assigned the PCTI judgment against PCTI to Meraki Advisors, LLC. (“Meraki”). The Company’s understanding is Meraki is a Pennsylvania limited liability company, controlled by Chis.

 

Included in the Current portion of notes payable are the principal balances of Huntington’s LOC of $344,166 and Term Loan of $134,681. Accrued interest and fees on the LOC and Term Loan debt $54,256 is included in accounts payable and accrued liabilities.

 

F-22

 

NOTE 15 - INCOME TAXES

 

The Company provides for income taxes under ASC 740, Accounting for Income Taxes. ASC 740 requires the use of an asset and liability approach in accounting for income taxes. Deferred tax assets and liabilities are recorded based on the differences between the financial statement and tax bases of assets and liabilities and the tax rates in effect when these differences are expected to reverse. ASC 740 requires the reduction of deferred tax assets by a valuation allowance if, based on the weight of available evidence, it is more likely- than not that some or all of the deferred tax assets will not be realized.

 

In assessing the need for a valuation allowance, management must determine that there will be sufficient taxable income to allow for the realization of deferred tax assets. Based upon the historical and anticipated future income, management has determined that the deferred tax assets do not meet the more-likely-than-not threshold for realizability. Accordingly, there is a full valuation allowance provided against the Company’s deferred tax assets as of June 30, 2024, and December 31, 2023.

 

NOTE 16 – SUBSEQUENT EVENTS

 

On June 4, 2024, the Board of Directors of the Company approved to amend the Company’s Articles of Incorporation (the “2024 Amendment”) to increase the authorized capital stock of the Company to 9,000,000,000 shares, of which 8,990,000,000 shall be authorized as common shares and 10,000,000 shall be authorized as preferred shares. The Company filed the 2024 Amendment with the State of Nevada on July 22, 2024.

 

On July 22, 2024, the Company filed a Registration statement for the sale of up to Two Billion (2,000,000,000) shares of the Company’s common stock to GHS, pursuant to the May 2, 2023, Financing Agreement and Registration Rights Agreement. The terms and conditions are similar to the terms and conditions of the January 26, 2024, registration statement.

 

The Company has evaluated subsequent events through the date the financial statements were issued. The Company has determined that there are no other such events that warrant disclosure or recognition in the financial statements, except as stated herein.

 

F-23

 

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations.

 

The following is management’s discussion and analysis of certain significant factors that have affected our financial position and operating results during the periods included in the accompanying unaudited consolidated financial statements, as well as information relating to the plans of our current management. This report includes forward-looking statements. Generally, the words “believes,” “anticipates,” “may,” “will,” “should,” “expect,” “intend,” “estimate,” “continue,” and similar expressions or the negative thereof or comparable terminology are intended to identify forward-looking statements. Such statements are subject to certain risks and uncertainties, including the matters set forth in this report or other reports or documents we file with the Securities and Exchange Commission from time to time, which could cause actual results or outcomes to differ materially from those projected. Undue reliance should not be placed on these forward-looking statements which speak only as of the date hereof. We undertake no obligation to update these forward-looking statements.

 

While our financial statements are presented on the basis that we are a going concern, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business over a reasonable length of time, our auditors have raised a substantial doubt about our ability to continue as a going concern.

 

Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, the Company cannot guarantee future results, levels of activity, performance, or achievements. Except as required by applicable law, including the securities laws of the United States, the Company does not intend to update any of the forward-looking statements to conform these statements to actual results.

 

Our financial statements are prepared in accordance with accounting principles generally accepted in the United States (“GAAP”). These accounting principles require us to make certain estimates, judgments, and assumptions. We believe that the estimates, judgments, and assumptions upon which we rely are reasonable based upon information available to us at the time that these estimates, judgments, and assumptions are made. These estimates, judgments, and assumptions can affect the reported amounts of assets and liabilities as of the date of the financial statements as well as the reported amounts of revenues and expenses during the periods presented. Our financial statements would be affected to the extent there are material differences between these estimates.

 

The following discussion should be read in conjunction with our unaudited consolidated financial statements and the related notes that appear elsewhere in this Quarterly Report on Form 10-Q.

 

THE COMPANY

 

Ozop Energy Solutions, Inc. (the “Company,” “we,” “us” or “our”) was originally incorporated as Newmarkt Corp. on July 17, 2015, under the laws of the State of Nevada.

 

On December 11, 2020, the Company formed Ozop Energy Systems, Inc. (“OES”), a Nevada corporation and a wholly owned subsidiary of the Company. OES was formed to be a manufacturer and distributor of renewable energy products.

 

OES operates in the renewable, electric vehicle (“EV”), energy storage and energy resiliency sectors. We are engaged in multiple business lines that include project development as well as equipment distribution.

 

Equipment Distributor: In April 2021, the Company signed a five-year lease (beginning June 1, 2021) of approximately 8,100 SF in California, for office and warehouse space to support the sales and distribution of our west coast operations. On February 22, 2023, with an effective date of March 1, 2023, the Company entered into a Sublease for a Single Subleasee Agreement (the “Sublease”) with the landlord and a third party for the office and warehouse in Carlsbad California. Pursuant to the Sublease agreement, the third party will be responsible for all of the Company’s lease obligations through May 31, 2026, the lease termination date. The Company and the subleasee have agreed to work together regarding any existing Company inventory in the facility. OES currently is focused on solar panel sales to other distributors and large installation companies.

 

Modular Energy Distribution System: The Neo-Grid^TM System comprises of the design engineering, installation, and operational methodologies as well as the financial arbitrage of how we produce, capture and distribute electrical energy for the EV markets. The Company has acquired the license rights to the Neo-Grid^TM System, a proprietary system (patent pending), for the capture and distribution of electrical energy for the EV market. The Neo-Grid^TM System will serve both the private auto and the commercial sectors. Our Neo-Grid^TM System offers (1) charging locations that can be installed with reduced delays, restricted areas or load limits and (2) EV charger electricity that is produced from renewable sources claiming little to no carbon footprint.

 

3

 

The Company has developed a business plan for the Neo-Grid^TM System for the distribution of electrical energy providing a solution to the inevitable stress to the existing grid infrastructure. The Company has completed its’ research and development of the Neo-Grid^TM System as well as completed the first set of engineered technical drawings. This first stage of the engineered technical drawings allows us to move forward with stage two, as well as to begin to construct the first prototype or proof of concept, (“PoC”). Our PoC design is partially reliant on auto manufacturers establishing standardizations of the actual charging/discharging protocols of the batteries such as on-board inverters as well as bi-directional capabilities in electric vehicles, which have only recently been established.

 

On August 19, 2021, the Company formed Ozop Capital Partners, Inc. (“Ozop Capital”), a Delaware corporation and a wholly owned subsidiary of the Company and was formed as a holding company. On October 29, 2021, EV Insurance Company, Inc. (“EVCO”) was formed as a captive insurer that reinsures in the State of Delaware. EVCO (DBA “OZOP Plus”) is a wholly owned subsidiary of Ozop Capital.

 

Ozop Plus markets vehicle service contracts (“VSC’s”) for electric vehicles (EV’s) that offer consumers to be able to purchase additional months and miles above the manufacturer’s warranty and to also bring added value to EV owners by utilizing our partnerships and strengths in the energy market to offer unique and innovative services. Among EV owners’ concerns are the EV battery repair and replacement costs, range anxiety, environmental responsibilities, roadside assistance, and the accelerated wear on additional components that EV vehicles experience. Management believes that the Ozop Plus marketed VSC’s will give “peace of mind” to the EV buyer.

 

On February 25, 2022, the Company formed Ozop Engineering and Design, Inc. (“OED”) a Nevada corporation, as a wholly owned subsidiary of the Company. OED was formed to become a premier engineering and lighting control design firm. OED offers product and design support for lighting and solar projects with a focus on fast lead times and technical support. OED and our partners can offer the resources needed for lighting, solar and electrical design projects. OED will provide its’ customers systems to coordinate the understanding of electrical usage with the relationship between lighting design and lighting controls, by developing more efficient ecofriendly designs by working with architects, engineers, facility managers, electrical contractors and engineers.

 

On June 11, 2024, the Company formed Automated Room Controls, Inc. (“ARC”). ARC is developing products to be an advanced lighting controls system, intricately engineered to integrate sophisticated wired and wireless technologies. At its core, it employs a hybrid network topology that facilitates both resilient wired connections and flexible wireless communications, making it suitable for complex infrastructural environments. The system is equipped with an array of sensors and control nodes, enabling precise light management and energy usage monitoring. With support for protocols such as DALI and Zigbee, alongside the capability for seamless integration with IoT platforms, ARC offers a comprehensive solution for intricate lighting networks. This system is designed not just for control and efficiency, but also for adaptability to diverse architectural and electrical layouts, embodying a technical solution for advanced, energy-conscious lighting management.

 

Discontinued Operations

 

On September 1, 2022, the BOD of the Company authorized the filing of a Chapter 7 proceeding which meets the definition of a discontinued operation. Accordingly, the operating results of PCTI are reported as income from discontinued operations in the accompanying unaudited consolidated financial statements for the three and six months ended June 30, 2024, and 2023.

 

4

 

Results of Operations for the three and six months ended June 30, 2024, and 2023:

 

Revenue

 

For the three and six months ended June 30, 2024, the Company generated revenue of $941,972 and $1,193,694, respectively, compared to $1,241,326 and $4,032,524 for the three and six months ended June 30, 2023. Revenues from Ozop Energy Systems, Inc. (“OES”) are classified as sourced and distributed products. Revenues from Ozop Engineering and Design (“OED”) are classified as design and installation. Sales are summarized as follows:

 

		Three months ended June 30,								Six months ended June 30,
		2024				2023				2024				2023
Sourced and distributed products		$	879,552			$	1,213,826			$	954,774			$	3,972,624
Design and installation			62,420				27,500				238,920				59,900
Total		$	941,972			$	1,241,326			$	1,193,694			$	4,032,524

 

Sales for the three and six months ended June 30, 2024, included $728,640, pursuant to the YHS Settlement. Excluding this, sales of sourced and distributed products (solar products) were significantly lower for the three and six months ended June 30, 2024, compared to the three and six months ended June 30, 2023. The Company believes the lower revenues were due to higher interest rates affecting homeowners’ ability and desire for residential rooftop solar installations as well as competitors lowering their selling prices to try to capture a part of the lower demand. These factors also resulted in our customers having excess inventory on hand. Design and installation revenues increased for the three and six months ended June 30, 2024, as the Company received additional and larger installation jobs.

 

Cost of sales

 

For the three and six months ended June 30, 2024, the Company recognized $823,647 and $939,092, respectively, of cost of sales, compared to $1,733,892 and $4,128,592, respectively, for the three and six months ended June 30, 2023.

 

		Three months ended June 30,								Six months ended June 30,
		2024				2023				2024				2023
Sourced and distributed products		$	809,856			$	1,108,892			$	873,187			$	3,503,592
Design and installation			13,791				-				65,905				-
Inventory write down			-				625,000				-				625,000
Total		$	823,647			$	1,733,892			$	939,092			$	4,128,592

 

During the quarter ended June 30, 2023, the Company reviewed its inventory valuation to determine if the historical cost of its solar panels was less than their net realizable value. Management also considers, if applicable, other factors, including known trends, market conditions, and other such issues. Based on current market conditions related to solar panels including but not limited to reduced selling prices in the industry and the abundance of inventory supply in the market, management determined that the net realizable value of certain of the Company’s inventory required a lower of cost or market adjustment of $625,000 (the “Inventory Adjustment”) to the historical cost of inventory purchased.

 

Gross margin of sourced and distributed products was 7.9% and 8.5% for the three and six months ended June 30, 2024, respectively, compared to 8.6% and 11.8% (prior to the Inventory Adjustment) for the three and six months ended June 30, 2023, respectively. The downward trend in gross profit margin is due to the continued decline in selling price because of market competition.

 

Design and installation cost of sales is comprised of OED’s labor costs for each job.

 

5

 

Operating expenses

 

Total operating expenses for the three and six months ended June 30, 2024, were $808,172 and $1,776,935, respectively, compared to $963,070 and $2,032,832, respectively, for the three and six months ended June 30, 2023. The operating expenses were comprised of:

 

		Three Months Ended June 30, 2024				Three Months Ended June 30, 2023				Six Months Ended June 30, 2024				Six Months Ended June 30, 2023
Wages and management fees, related parties, including stock-based compensation		$	240,000			$	240,000			$	480,000			$	480,000
Salaries, taxes, and benefits			204,683				254,290				398,177				521,094
Professional and consulting fees			122,410				239,938				377,237				520,946
Advertising and marketing			12,878				13,398				28,549				31,170
Rent and office expenses			28,822				16,313				112,426				71,429
Insurance			47,014				68,206				107,990				116,597
Travel			28,216				33,214				63,357				74,183
General and administrative, other			124,149				97,711				209,199				217,413
Total operating expenses		$	808,172			$	963,070			$	1,776,935			$	2,032,832

 

On July 10, 2020, pursuant to the PCTI transaction, the Company assumed an employment contract entered into on February 28, 2020, between the Company and Mr. Conway (the “Employment Agreement”). Mr. Conway’s compensation as adjusted was $20,000 per month. Effective January 1, 2022, the Company entered into a new employment agreement with Mr. Conway. Pursuant to the agreement, Mr. Conway will receive annual compensation of $240,000 from the Company and will also be eligible to receive bonuses and equity grants at the discretion of the BOD. The Company also agreed to compensate Mr. Conway for services provided directly to any of the Company’s subsidiaries. Currently, the subsidiaries of Ozop Capital, OES and OED, each compensates Mr. Conway $20,000 per month. For the three and six months ended June 30, 2024, and 2023, the Company recorded expenses to Mr. Conway of $240,000 and $480,000, respectively.

 

Salaries, taxes, and benefits decreased for the three and six months ended June 30, 2024, compared to the three and six months ended June 30, 2023. Ozop Energy Systems currently has 2 employees with an aggregate annual salary of $204,000 and focused on information technology and general and administrative functions. The solar distribution of this vertical is being managed by our financial consultant and the Company’s CEO. OED currently has five employees with an aggregate annual compensation of $498,000, a daily consultant when needed and 2 summer interns. OED has allocated $13,791 and $65,905, respectively, of salaries to cost of sales for the three and six months ended June 30, 2024. Ozop Capital Partners has one employee with annual compensation of $125,000 (terminated in July 2024). The expenses per subsidiary included in operating expenses for the three and six months ended June 30, 2024, and 2023, are as follows:

 

		Three Months Ended June 30, 2024				Three Months Ended June 30, 2023				Six Months Ended June 30, 2024				Six Months Ended June 30, 2023
Ozop Energy Systems		$	54,901			$	62,394			$	110,538			$	142,095
Ozop Engineering and Design			115,931				158,283				219,647				311,135
Ozop Capital Partners/EV Insurance Company			33,851				33,613				67,992				67,864
Total		$	204,683			$	254,290			$	398,177			$	521,094

 

Professional and consulting fees decreased for the three and six months ended June 30, 2024, compared to the three and six months ended June 30, 2023. The decrease is due to the expiration of certain consulting contracts and legal fees related to the YHS litigation. These decreases were partially offset by increases in general legal expenses and auditing fees.

 

Advertising and marketing expenses decreased slightly for the three and six months ended June 30, 2024, compared to the three and six months ended June 30, 2023.

 

Rent and office expense (including storage, supplies, utilities, and internet costs) increased for the three and six months ended June 30, 2024, compared to the three and six months ended June 30, 2023. The increase is the result of $15,318 and $71,208, for the three and six months ended June 30, 2024, respectively, of expenses incurred by OES for storage fees, partially offset by decreased rent expense that on March 1, 2023, OES has subleased the Carlsbad office and warehouse to a third party. Effective May 7, 2024, there is not any additional storage charges.

 

Insurance expense decreased for the three and six months ended June 30, 2024, compared to the three and six months ended June 30, 2023. The decrease was the result of the Company not renewing the credit insurance policy for OES, which terminated April 30, 2024.

 

6

 

Other (Income) Expenses

 

Other expense, net, for the three and six months ended June 30, 2024, was $601,944 and $1,196,826, respectively, compared to $1,982,463 and $3,842,114, respectively, for the three and six months ended June 30, 2023, and were as follows.

 

		Three months ended June 30,								Six months ended June 30,
		2024				2023				2024				2023
Interest expense		$	1,056,880			$	1,039,676			$	2,113,767			$	2,261,209
(Gain) loss on change in fair value of derivatives			(183,576	)			942,787				(645,581	)			1,580,905
Gain on litigation settlement			(271,360	)			-				(271,360	)			-
Total other (income) expense, net		$	601,944			$	1,982,463			$	1,196,826			$	3,842,114

 

The decrease in other expense, net for the three and six months ended June 30, 2024, is primarily a result of the Company recognized gains of $183,576 and $645,581, respectively, on the change in the fair value of derivatives compared to losses of $942,787 and $1,580,905, respectively, for the three and six months ended June 30, 2023. Additionally for the three and six months ended June 30, 2024, the Company recognized a gain of $271,360 on the settlement with YHS.

 

Net loss

 

Net loss attributable to the Company for the three and six months ended June 30, 2024, was $1,291,791 and $2,715,586, respectively, compared to $3,432,736 and $5,960,288, respectively, for the three and six months ended June 30, 2023. The change for the three months ended June 30, 2024, compared to the three months ended June 30, 2023, was a combination of an increase in gross profit of $610,891, reduced operating expenses of $154,898 and reduced other expenses, net, of $1,380,519, as described above. The change for the six months ended June 30, 2024, compared to the six months ended June 30, 2023, was a combination of an increase in gross profit of $350,670, reduced operating expenses of $255,897 and reduced other expenses, net, of $2,645,288, as described above.

 

Liquidity and Capital Resources

 

The accompanying unaudited consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. As of June 30, 2024, the Company had an accumulated deficit of $221,386,066 and a working capital deficit of $28,736,003 (including derivative liabilities of $570,497). As of June 30, 2024, the Company was in default of $3,315,000 plus accrued interest on debt instruments due to non-payment upon maturity dates. These factors, among others, raise substantial doubt about the ability of the Company to continue as a going concern for one year from the date of the issuance of these financial statements. The accompanying financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classification of liabilities that may result from the possible inability of the Company to continue as a going concern.

 

Currently, our current capital and our other existing resources will be sufficient to provide the working capital needed for our current business, however, additional capital will be required to meet our debt obligations, and to further expand our business. We may be unable to obtain the additional capital required. If we are unable to generate capital or raise additional funds when required, it will have a negative impact on our business development and financial results. These conditions raise substantial doubt about our ability to continue as a going concern as well as our recurring losses from operations, deficit in equity, and the need to raise additional capital to fund operations. This “going concern” could impair our ability to finance our operations through the sale of debt or equity securities. Management’s plans in regard to these factors are discussed in Note 2 to the unaudited consolidated financial statements filed herein.

 

7

 

For the six months ended June 30, 2024, we primarily funded our business operations with the existing cash on hand as of January 1, 2024, cash received from accounts receivable, and $932,277 received from sales of common stock.

 

As of June 30, 2024, we had cash of $2,166,504 as compared to $1,446,029 as of December 31, 2023. As of June 30, 2024, we had current liabilities of $31,245,124 (including $570,497 of derivative liabilities), compared to current assets of $2,509,121, which resulted in a working capital deficit of $28,736,003. The current liabilities are comprised of accounts payable, accrued expenses, convertible debt, derivative liabilities, lease obligations, deferred liability, notes payable and liabilities of discontinued operations.

 

Operating Activities

 

For the six months ended June 30, 2024, net cash used in operating activities was $204,284 compared to $120,370 for the six months ended June 30, 2023.

 

For the six months ended June 30, 2024, our net cash used in operating activities was primarily attributable to the net loss of $2,715,586, the gain on the change in fair value of derivatives of $645,581, adjusted by non-cash items of interest expense of $665,980, and amortization and depreciation of $108,166. Net changes of $2,386,310 in operating assets and liabilities reduced the cash used in operating activities.

 

For the six months ended June 30, 2023, our net cash used in operating activities was primarily attributable to the net loss of $5,960,288, adjusted by non-cash items of the loss on the fair value change of derivatives of $1,580,905, interest expense of $819,318, the inventory write-down of $625,000 and amortization and depreciation of $112,397. Net changes of $2,713,024 in operating assets and liabilities reduced the cash used in operating activities.

 

Investing Activities

 

For the six months ended June 30, 2024, and 2023 the net cash used in investing activities was $7,518 and $2,162, respectively.

 

Financing Activities

 

For the six months ended June 30, 2024, the net cash provided by financing activities was $932,277, net of issuance costs, from the sales of common stock to GHS.

 

For the six months ended June 30, 2023, the net cash provided by financing activities was $48,220. During the six months ended June 30, 2023, we received $598,220, net of issuance costs, from the sales of common stock to GHS. During the six months ended June 30, 2023, we made payments of $550,000 for notes payable.

 

Critical Accounting Policies and Estimates

 

Our significant accounting policies are described in more details in the notes to our financial statements appearing elsewhere in this Quarterly Report on Form 10-Q. We believe the following accounting policies to be most critical to the judgement and estimates used in the preparation of our financial statements:

 

Use of Estimates

 

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amount of revenues and expenses during the reported period. Actual results could differ from those estimates.

 

8

 

Convertible Instruments

 

The Company evaluates and accounts for conversion options embedded in convertible instruments in accordance with ASC 815, Derivatives and Hedging Activities.

 

Applicable GAAP requires companies to bifurcate conversion options from their host instruments and account for them as free-standing derivative financial instruments according to certain criteria. The criteria include circumstances in which (a) the economic characteristics and risks of the embedded derivative instrument are not clearly and closely related to the economic characteristics and risks of the host contract, (b) the hybrid instrument that embodies both the embedded derivative instrument and the host contract is not re-measured at fair value under other GAAP with changes in fair value reported in earnings as they occur and (c) a separate instrument with the same terms as the embedded derivative instrument would be considered a derivative instrument.

 

The Company accounts for convertible instruments (when it has been determined that the embedded conversion options should not be bifurcated from their host instruments) as follows: The Company records, when necessary, discounts to convertible notes for the intrinsic value of conversion options embedded in debt instruments based upon the differences between the fair value of the underlying common stock at the commitment date of this note transaction and the effective conversion price embedded in this note. Debt discounts under these arrangements are amortized over the term of the related debt to their stated date of redemption.

 

The Company accounts for the conversion of convertible debt when a conversion option has been bifurcated using the general extinguishment standards. The debt and equity linked derivatives are removed at their carrying amounts and the shares issued are measured at their then-current fair value, with any difference recorded as a gain or loss on extinguishment of the two separate accounting liabilities.

 

OFF BALANCE SHEET ARRANGEMENTS

 

We have no off-balance sheet arrangements, including arrangements that would affect our liquidity, capital resources, market risk support and credit risk support or other benefits.

 

Item 3. Quantitative and Qualitative Disclosures about Market Risk.

 

Not Applicable.

 

Item 4. Controls and Procedures.

 

Disclosure Controls and Procedures

 

We maintain disclosure controls and procedures, as defined in Rule 13a-15(e) promulgated under the Securities Exchange Act of 1934 (the “Exchange Act”), that are designed to ensure that information required to be disclosed by us in the reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission’s rules and forms and that such information is accumulated and communicated to our management, including our Chief Executive Officer and Chief Financial Officer, as appropriate to allow timely decisions regarding required disclosure.

 

We carried out an evaluation, under the supervision and with the participation of our management, including our Chief Executive Officer and Chief Financial Officer, of the effectiveness of our disclosure controls and procedures as of June 30, 2024. Based on the evaluation of these disclosure controls and procedures, and in light of the material weaknesses found in our internal controls over financial reporting, our Chief Executive Officer and Chief Financial Officer concluded that our disclosure controls and procedures were not effective for the reasons discussed below.

 

9

 

A material weakness is a deficiency, or combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of the Company’s annual or interim financial statements will not be prevented or detected on a timely basis. In its assessment of the effectiveness of internal control over financial reporting as of June 30, 2024, the Company determined that there were control deficiencies that constituted material weaknesses, as described below.

 

	1.	We do not have an Audit Committee – While not being legally obligated to have an audit committee, it is the management’s view that such a committee, including a financial expert member, is an utmost important entity level control over the Company’s financial statement. Currently the Board of Directors acts in the capacity of the Audit Committee, and does not include a member that is considered to be independent of management to provide the necessary oversight over management’s activities.
	2.	We did not maintain appropriate cash controls – As of June 30, 2024, the Company has not maintained sufficient internal controls over financial reporting for cash, including failure to segregate cash handling and accounting functions, and did not require dual signatures on the Company’s bank accounts.

 

Accordingly, the Company concluded that these control deficiencies resulted in a reasonable possibility that a material misstatement of the annual or interim financial statements will not be prevented or detected on a timely basis by the company’s internal controls.

 

Our management, including our Chief Executive Officer and our Chief Financial Officer, does not expect that our disclosure controls and procedures or our internal controls will prevent all error and all fraud. A control system, no matter how well conceived and operated, can provide only reasonable, not absolute, assurance that the objectives of the control system are met. Further, the design of a control system must reflect the fact that there are resource constraints and the benefits of controls must be considered relative to their costs. Due to the inherent limitations in all control systems, no evaluation of controls can provide absolute assurance that all control issues and instances of fraud, if any, within our company have been detected.

 

Changes in Internal Controls over Financial Reporting

 

There has been no change in our internal control over financial reporting during the three and six months ended June 30, 2024, that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

 

PART II. OTHER INFORMATION

 

Item 1. LEGAL PROCEEDINGS

 

There are no proceedings in which any of our directors, officers or affiliates, or any registered or beneficial shareholder, is an adverse party or has a material interest adverse to our interest.

 

Item 1A. RISK FACTORS

 

Not applicable for smaller reporting companies.

 

Item 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

 

None

 

Item 3. DEFAULTS UPON SENIOR SECURITIES

 

None

 

Item 4. MINE SAFETY DISCLOSURE

 

Not applicable.

 

Item 5. OTHER INFORMATION

 

	(a)	None.
	(b)	During the quarter ended June 30, 2024, there have not been any material changes to the procedures by which security holders may recommend nominees to the Board of Directors.

 

10

 

Item 6. EXHIBITS

 

The following documents are filed as part of this report:

 

Exhibit No.		Description
2.1		Share Exchange Agreement dated April 5, 2018 by and among Newmarkt Corp., the shareholders of Ozop Surgical, Inc., Ozop Surgical, Inc. and Denis Razvodovskij (Incorporated by reference to Exhibit 2.1 of the Current Report on Form 8-K filed on April 19, 2018).
2.2		Stock Purchase Agreement dated June 26, 2020, by and among Ozop Surgical Corp., Power Conversion Technologies, Inc. and Catherine Chis (Incorporated by reference to Exhibit 10.1 of the Current Report on Form 8-K filed on June 29, 2020).
2.3		Merger Agreement and Plan of Merger between Ozop Surgical Corp. and Ozop Surgical Name Change Subsidiary, Inc. (Incorporated by reference to Exhibit 2.1 of the Current Report on Form 8-K filed on November 13, 2020).
3.1		Articles of Incorporation (Incorporated by reference to our General Form for Registration of Securities on Form S-1 filed on August 1, 2016)
3.2		Bylaws (Incorporated by reference to our General Form for Registration of Securities on Form S-1 filed on August 1, 2016)
3.3		Certificate of Amendment of Amended and Restated Articles of Incorporation as filed with the Nevada Secretary of State on May 8, 2018 (Incorporated by reference to Exhibit 3.1 of the Current Report on Form 8-K filed on May 14, 2018).
3.4		Certificate of Designations for Series B Preferred Stock. (Incorporated by reference to Exhibit 3.1 of the Current Report on Form 8-K filed on April 2, 2019).
3.5		Amended and Restated Bylaws of Ozop Surgical Corp. adopted on May 22, 2019. (Incorporated by reference to Exhibit 3.2 of the Current Report on Form 8-K filed on May 22, 2019).
3.6		Amended and Restated Articles of Incorporation as filed with the Nevada Secretary of State on July 25, 2019. (Incorporated by reference to Exhibit 3.1 of the Current Report on Form 8-K filed on July 30, 2019).
3.7		Certificate of Designation of Series C Preferred Stock. (Incorporated by reference to Exhibit 3.1 of the Current Report on Form 8-K filed on September 24, 2019).
3.8		Certificate of Withdrawal of Series B Preferred Stock. (Incorporated by reference to Exhibit 3.2 of the Current Report on Form 8-K filed on September 24, 2019).
3.9		Amended and Restated Articles of Incorporation as filed with the Nevada Secretary of State on October 29, 2019. (Incorporated by reference to Exhibit 3.2 of the Current Report on Form 8-K filed on October 31, 2019).
3.10		Amended and Restated Articles of Incorporation as filed with the Nevada Secretary of State on December 30, 2020, (Incorporated by reference to Exhibit 3.1 of the Current Report on Form 8-K filed on December 31, 2019).
3.11		Amended and Restated Articles of Incorporation as filed with the Nevada Secretary of State on January 21, 2020. (Incorporated by reference to Exhibit 3.1 of the Current Report on Form 8-K filed on February 7, 2020).
3.12		Amended and Restated Certificate of Designation of Series C Preferred Stock. (Incorporated by reference to Exhibit 3.1 of the Current Report on Form 8-K filed on February 5, 2020).

 

11

 

3.13		Amendment to Certificate of Designation of Series C Preferred Stock dated July 7, 2020 (Incorporated by reference to Exhibit 3.1 of the Current Report on Form 8-K filed on July 10, 2020).
3.14		Certificate of Designation of Series D Preferred Stock dated July 7, 2020 (Incorporated by reference to Exhibit 3.2 of the Current Report on Form 8-K filed on July 10, 2020).
3.15		Certificate of Designation of Series E Preferred Stock dated July 7, 2020 (Incorporated by reference to Exhibit 3.3 of the Current Report on Form 8-K filed on July 10, 2020).
3.16		Articles of Incorporation of Ozop Surgical Name Change Subsidiary, Inc. (Incorporated by reference to Exhibit 3.1 of the Current Report on Form 8-K filed on November 13, 2020).
3.17		Articles of Merger between Ozop Surgical Corp. and Ozop Surgical Name Change Subsidiary, Inc. (Incorporated by reference to Exhibit 3.2 of the Current Report on Form 8-K filed on November 13, 2020).
3.18		Amended and Restated Certificate of Designation Series D Preferred Stock dated July 27, 2021 (Incorporated by reference to Exhibit 3.1 of the Current Report on Form 8-K filed on August 2, 2021).
3.19		Advisory agreement between Ozop Capital and RMA dated September 1, 2021 (Incorporated by reference to Exhibit 10.1 of the Current Report on Form 8-K filed on September 2, 2021)
10.1		Binding Letter of Intent dated February 28, 2020, by and between Ozop Surgical Corp. and Power Conversion Technologies, Inc, and Catherine Chis, (Incorporated by reference to Exhibit 10.1 of the Current Report on Form 8-K filed on February 28, 2020).
10.2+		Employment Agreement dated February 28, 2020, by and between Ozop Surgical Corp. and Brian Conway, (Incorporated by reference to Exhibit 10.3 of the Current Report on Form 8-K filed on February 28, 2020).
31.1*		Certification of Chief Executive Officer required by Rule 13a-14(1) or Rule 15d-14(a) of the Securities Exchange Act of 1934, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
31.2*		Certification of Chief Financial Officer required by Rule 13a-14(1) or Rule 15d-14(a) of the Securities Exchange Act of 1934, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
32.1*		Certification of Chief Executive Officer and the Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 and Section 1350 of 18 U.S.C. 63

 

101.INS*		Inline XBRL Instance Document
101.SCH*		Inline XBRL Taxonomy Extension Schema Document
101.CAL*		Inline XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF*		Inline XBRL Taxonomy Extension Definition Linkbase Document
101.LAB*		Inline XBRL Taxonomy Extension Label Linkbase Document
101.PRE*		Inline XBRL Taxonomy Extension Presentation Linkbase Document
104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

 

* Filed herewith.

+ Management contract or compensatory plan or arrangement.

 

12

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

 

Dated: August 9, 2024

 

/s/ Brian P Conway
Brian P. Conway
Chief Executive Officer
(principal executive officer)
(principal financial and accounting officer)

 

13

 

Exhibit 31.1

 

CERTIFICATION

 

I, Brian P. Conway, Chief Executive Officer of OZOP ENERGY SOLUTIONS, INC. (the “registrant”), certify that:

 

1.	I have reviewed this quarterly report on Form 10-Q of the registrant for the period ended June 30, 2024;
2.	Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3.	Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
4.	The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

 

	a.	Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
	b.	Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
	c.	Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
	d.	Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

 

5.	The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

 

	a.	All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
	b.	Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

 

Date: August 9, 2024

 

/s/ Brian P. Conway
Brian P Conway
Chief Executive Officer
(principal executive officer)

 

 

 

Exhibit 31.2

 

CERTIFICATION

 

I, Brian P. Conway, Interim Chief Financial Officer of OZOP ENERGY SOLUTIONS, INC. (the “registrant”), certify that:

 

1.	I have reviewed this quarterly report on Form 10-Q of the registrant for the period ended June 30, 2024;
2.	Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3.	Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
4.	The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

 

	a.	Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
	b.	Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
	c.	Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
	d.	Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

 

5.	The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

 

	a.	All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
	b.	Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

 

Date: August 9, 2024

 

/s/ Brian P Conway
Brian P Conway
Interim Chief Financial Officer
(principal financial and accounting officer)

  

 

 

Exhibit 32.1

 

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

 

Each of the undersigned hereby certifies, in his capacity as an officer of OZOP ENERGY SOLUTIONS, INC. (the “Company”), for the purposes of 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that to the best of his knowledge:

 

(1) The Company’s Quarterly Report on Form 10-Q for the period ended June 30, 2024, (the “Report”) fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

 

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

 

Dated: August 9, 2024

 

/s/ Brian P Conway
Brian P. Conway
Chief Executive Officer
(principal executive officer)
(principal financial and accounting officer)

 

 

Cover - shares	6 Months Ended
	Jun. 30, 2024	Aug. 09, 2024
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Jun. 30, 2024
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2024
Current Fiscal Year End Date	--12-31
Entity File Number	000-55976
Entity Registrant Name	OZOP ENERGY SOLUTIONS, INC.
Entity Central Index Key	0001679817
Entity Tax Identification Number	35-2540672
Entity Incorporation, State or Country Code	NV
Entity Address, Address Line One	55 Ronald Reagan Blvd.
Entity Address, City or Town	Warwick
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10990
City Area Code	(877)
Local Phone Number	785-6967
Title of 12(g) Security	Common Stock, $0.001 par value
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		6,628,031,093

Consolidated Balance Sheets (Unaudited) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Current Assets
Cash	$ 2,166,504	$ 1,446,029
Prepaid expenses	95,931	75,103
Accounts receivable	29,244	168,770
Inventory	217,442	1,089,979
Total Current Assets	2,509,121	2,779,881
Operating lease right-of-use asset, net	300,954	372,451
Property and equipment, net	589,748	618,899
Other assets	13,408	13,408
TOTAL ASSETS	3,413,231	3,784,639
Current Liabilities
Accounts payable and accrued expenses	9,488,053	8,026,784
Convertible notes payable	25,000	25,000
Current portion of notes payable, net of discounts	19,475,000	18,837,500
Derivative liabilities	570,497	1,216,078
Operating lease liability, current portion	155,688	147,993
Deferred liability	496,075	490,495
Liabilities of discontinued operations	1,034,811	1,038,384
Total Current Liabilities	31,245,124	29,782,234
Long Term Liabilities
Notes payable, net of discount	312,683	284,203
Operating lease liability, net of current portion	156,920	236,389
TOTAL LIABILITIES	31,714,727	30,302,826
COMMITMENTS AND CONTINGENCIES
Stockholders’ Deficit
Preferred stock	3	3
Common stock (8,990,000,000 shares authorized, par value $0.001; 6,628,031,093 and 5,481,513,400 shares issued and outstanding as of June 30, 2024, and December 31, 2023, respectively)	6,628,031	5,481,513
Treasury stock, at cost, 47,500 shares of Series C Preferred Stock and 18,667 shares of Series D Preferred Stock	(11,249,934)	(11,249,934)
Common stock to be issued; 637,755 shares	638	638
Additional paid in capital	198,490,608	198,704,849
Accumulated deficit	(221,386,066)	(218,670,480)
Total Ozop Energy Solutions, Inc. stockholders’ deficit	(27,516,719)	(25,733,410)
Noncontrolling interest	(784,777)	(784,777)
TOTAL STOCKHOLDERS’ DEFICIT	(28,301,496)	(26,518,187)
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT	3,413,231	3,784,639
Series D Preferred Stock [Member]
Stockholders’ Deficit
Preferred stock	1	1
Series E Preferred Stock [Member]
Stockholders’ Deficit
Preferred stock

Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Jun. 30, 2024	Dec. 31, 2023
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	8,990,000,000	8,990,000,000
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares issued	6,628,031,093	5,481,513,400
Common stock, shares outstanding	6,628,031,093	5,481,513,400
Common stock to be issued, shares	637,755	637,755
Series C Preferred Stock [Member]
Preferred stock, shares authorized	50,000	50,000
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares issued	2,500	2,500
Preferred stock, shares outstanding	2,500	2,500
Treasury stock, shares	47,500	47,500
Series D Preferred Stock [Member]
Preferred stock, shares authorized	4,570	4,570
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares issued	1,334	1,334
Preferred stock, shares outstanding	1,334	1,334
Treasury stock, shares	18,667	18,667
Series E Preferred Stock [Member]
Preferred stock, shares authorized	3,000	3,000
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0

Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Statement [Abstract]
Revenue	$ 941,972	$ 1,241,326	$ 1,193,694	$ 4,032,524
Cost of revenue	823,647	1,733,892	939,092	4,128,592
Gross profit (loss)	118,325	(492,566)	254,602	(96,068)
Operating expenses:
General and administrative, related parties	240,000	240,000	480,000	480,000
General and administrative, other	568,172	723,070	1,296,935	1,552,832
Total operating expenses	808,172	963,070	1,776,935	2,032,832
Loss from continuing operations	(689,847)	(1,455,636)	(1,522,333)	(2,128,900)
Other (income) expenses:
Interest expense	1,056,880	1,039,676	2,113,767	2,261,209
Loss (gain) on change in fair value of derivatives	(183,576)	942,787	(645,581)	1,580,905
Gain on litigation settlement	(271,360)		(271,360)
Total Other (Income) Expenses	601,944	1,982,463	1,196,826	3,842,114
Loss from continuing operations before income taxes	(1,291,791)	(3,438,099)	(2,719,159)	(5,971,014)
Income tax provision
Net loss from continuing operations	(1,291,791)	(3,438,099)	(2,719,159)	(5,971,014)
Discontinued Operations:
Income from discontinued operations		5,363	3,573	10,726
Net loss	$ (1,291,791)	$ (3,432,736)	$ (2,715,586)	$ (5,960,288)
Income (loss) from contuining operations per share of common stock basic	$ (0.00)	$ (0.00)	$ (0.00)	$ (0.00)
Income (loss) from contuining operations per share of common stock fully diluted	(0.00)	(0.00)	(0.00)	(0.00)
Income (loss) from discontinued operations per share of common stock basic	0.00	0.00	0.00	0.00
Income (loss) from discontinued operations per share of common stock fully diluted	0.00	0.00	0.00	0.00
Income (loss) per share fully basic	(0.00)	(0.00)	(0.00)	(0.00)
Income (loss) per share fully diluted	$ (0.00)	$ (0.00)	$ (0.00)	$ (0.00)
Weighted average shares outstanding Basic	6,224,136,201	4,892,162,699	5,947,132,280	4,863,711,391
Weighted average shares outstanding Diluted	6,224,136,201	4,892,162,699	5,947,132,280	4,863,711,391

Consolidated Statement of Stockholders' Deficit (Unaudited) - USD ($)	Common Stock To Be Issued [Member]	Preferred Stock [Member] Series C Preferred Stock [Member]	Preferred Stock [Member] Series D Preferred Stock [Member]	Common Stock [Member]	Treasury Stock, Common [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Noncontrolling Interest [Member]	Total
Balances at Dec. 31, 2022	$ 638	$ 3	$ 1	$ 4,771,275	$ (11,249,934)	$ 197,586,824	$ (211,300,799)	$ (784,777)	$ (20,976,769)
Balance, shares at Dec. 31, 2022	637,755	2,500	1,334	4,771,275,349
Issuance of shares of common stock sold, net of issuance costs				$ 107,757		418,636			526,393
Issuance of shares of common stock sold, net of issuance costs, shares				107,756,783
Net loss							(2,527,552)		(2,527,552)
Balances at Mar. 31, 2023	$ 638	$ 3	$ 1	$ 4,879,032	(11,249,934)	198,005,460	(213,828,351)	(784,777)	(22,977,928)
Balance, shares at Mar. 31, 2023	637,755	2,500	1,334	4,879,032,132
Balances at Dec. 31, 2022	$ 638	$ 3	$ 1	$ 4,771,275	(11,249,934)	197,586,824	(211,300,799)	(784,777)	(20,976,769)
Balance, shares at Dec. 31, 2022	637,755	2,500	1,334	4,771,275,349
Issuance of shares of common stock sold, net of issuance costs, shares				122,805,402
Net loss									(5,960,288)
Balances at Jun. 30, 2023	$ 638	$ 3	$ 1	$ 4,894,081	(11,249,934)	198,062,238	(217,261,087)	(784,777)	(26,338,837)
Balance, shares at Jun. 30, 2023	637,755	2,500	1,334	4,894,080,751
Balances at Dec. 31, 2022	$ 638	$ 3	$ 1	$ 4,771,275	(11,249,934)	197,586,824	(211,300,799)	(784,777)	(20,976,769)
Balance, shares at Dec. 31, 2022	637,755	2,500	1,334	4,771,275,349
Balances at Dec. 31, 2023	$ 638	$ 3	$ 1	$ 5,481,513	(11,249,934)	198,704,849	(218,670,480)	(784,777)	(26,518,187)
Balance, shares at Dec. 31, 2023	637,755	2,500	1,334	5,481,513,400
Balances at Mar. 31, 2023	$ 638	$ 3	$ 1	$ 4,879,032	(11,249,934)	198,005,460	(213,828,351)	(784,777)	(22,977,928)
Balance, shares at Mar. 31, 2023	637,755	2,500	1,334	4,879,032,132
Issuance of shares of common stock sold, net of issuance costs				$ 15,049		56,778			71,827
Issuance of shares of common stock sold, net of issuance costs, shares				15,048,619
Net loss							(3,432,736)		(3,432,736)
Balances at Jun. 30, 2023	$ 638	$ 3	$ 1	$ 4,894,081	(11,249,934)	198,062,238	(217,261,087)	(784,777)	(26,338,837)
Balance, shares at Jun. 30, 2023	637,755	2,500	1,334	4,894,080,751
Balances at Dec. 31, 2023	$ 638	$ 3	$ 1	$ 5,481,513	(11,249,934)	198,704,849	(218,670,480)	(784,777)	(26,518,187)
Balance, shares at Dec. 31, 2023	637,755	2,500	1,334	5,481,513,400
Issuance of shares of common stock sold, net of issuance costs				$ 340,304		10,251			350,555
Issuance of shares of common stock sold, net of issuance costs, shares				340,303,728
Net loss							(1,423,795)		(1,423,795)
Balances at Mar. 31, 2024	$ 638	$ 3	$ 1	$ 5,821,817	(11,249,934)	198,715,100	(220,094,275)	(784,777)	(27,591,427)
Balance, shares at Mar. 31, 2024	637,755	2,500	1,334	5,821,817,128
Balances at Dec. 31, 2023	$ 638	$ 3	$ 1	$ 5,481,513	(11,249,934)	198,704,849	(218,670,480)	(784,777)	(26,518,187)
Balance, shares at Dec. 31, 2023	637,755	2,500	1,334	5,481,513,400
Issuance of shares of common stock sold, net of issuance costs, shares				1,146,517,693
Net loss									(2,715,586)
Balances at Jun. 30, 2024	$ 638	$ 3	$ 1	$ 6,628,031	(11,249,934)	198,490,608	(221,386,066)	(784,777)	(28,301,496)
Balance, shares at Jun. 30, 2024	637,755	2,500	1,334	6,628,031,093
Balances at Mar. 31, 2024	$ 638	$ 3	$ 1	$ 5,821,817	(11,249,934)	198,715,100	(220,094,275)	(784,777)	(27,591,427)
Balance, shares at Mar. 31, 2024	637,755	2,500	1,334	5,821,817,128
Issuance of shares of common stock sold, net of issuance costs				$ 806,214		(224,492)			581,722
Issuance of shares of common stock sold, net of issuance costs, shares				806,213,965
Net loss							(1,291,791)		(1,291,791)
Balances at Jun. 30, 2024	$ 638	$ 3	$ 1	$ 6,628,031	$ (11,249,934)	$ 198,490,608	$ (221,386,066)	$ (784,777)	$ (28,301,496)
Balance, shares at Jun. 30, 2024	637,755	2,500	1,334	6,628,031,093

Consolidated Statement of Stockholders' Deficit (Unaudited) (Parenthetical) - USD ($)	3 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023
Statement of Stockholders' Equity [Abstract]
Issuance cost	$ 19,193	$ 12,384	$ 3,558	$ 19,110

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended				6 Months Ended		12 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Cash flows from operating activities:
Net loss from continuing operations	$ (1,291,791)		$ (3,438,099)		$ (2,719,159)	$ (5,971,014)
Net income from discontinued operations			5,363		3,573	10,726
Net loss	(1,291,791)	$ (1,423,795)	(3,432,736)	$ (2,527,552)	(2,715,586)	(5,960,288)
Adjustments to reconcile net loss to net cash used in operating activities
Non-cash interest expense					665,980	819,318
Amortization and depreciation					108,166	112,397
(Gain) loss on fair value change of derivatives	(183,576)		942,787		(645,581)	1,580,905
Inventory write-down						625,000
Changes in operating assets and liabilities:
Accounts receivable					139,526	157,381
Inventory					872,537	647,653
Prepaid expenses					(20,829)	(88,926)
Vendor deposits						528,719
Accounts payable and accrued expenses					1,461,270	1,532,615
Deferred revenue					5,580	275
Operating lease liabilities					(71,774)	(64,693)
Net cash used in continuing operations					(200,711)	(109,644)
Net cash used in discontinued operations					(3,573)	(10,726)
Net cash used in operating activities					(204,284)	(120,370)
Cash flows from investing activities:
Purchase of office and computer equipment					(7,518)	(2,162)
Net cash used in investing activities					(7,518)	(2,162)
Cash flows from financing activities:
Proceeds from sale of common stock, net of costs					932,277	598,220	$ 48,000
Payments of principal of notes payable						(550,000)
Net cash provided by financing activities					932,277	48,220
Net increase (decrease) in cash					720,475	(74,312)
Cash, Beginning of period		$ 1,446,029		$ 1,369,210	1,446,029	1,369,210	1,369,210
Cash, End of period	$ 2,166,504		$ 1,294,898		2,166,504	1,294,898	$ 1,446,029
Supplemental disclosure of cash flow information:
Cash paid for interest
Cash paid for income taxes

ORGANIZATION	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION	NOTE 1 - ORGANIZATION   Business   Ozop Energy Solutions, Inc. (the” Company,” “we,” “us” or “our”) was originally incorporated as Newmarkt Corp. on July 17, 2015, under the laws of the State of Nevada.   On October 29, 2020, the Company formed a new wholly owned subsidiary, Ozop Surgical Name Change Subsidiary, Inc., a Nevada corporation (“Merger Sub”). The Merger Sub was formed under the Nevada Revised Statutes for the sole purpose and effect of changing the Company’s name to “Ozop Energy Solutions, Inc.” That same day the Company entered into an Agreement and Plan of Merger (the “Merger Agreement”) with the Merger Sub and filed Articles of Merger (the “Articles of Merger”) with the Nevada Secretary of State, merging the Merger Sub into the Company, which were stamped effective as of November 3, 2020. As permitted by the Section 92.A.180 of the Nevada Revised Statutes, the sole purpose and effect of the filing of Articles of Merger was to change the name of the Company from Ozop Surgical Corp to “Ozop Energy Solutions, Inc.”   On December 11, 2020, the Company formed Ozop Energy Systems, Inc. (“OES”), a Nevada corporation and a wholly owned subsidiary of the Company. OES was formed to be a manufacturer and distributor of renewable energy products.   On August 19, 2021, the Company formed Ozop Capital Partners, Inc. (“Ozop Capital”), a Delaware corporation and a wholly owned subsidiary of the Company. Brian Conway was appointed as the sole officer and director of Ozop Capital and has voting control of Ozop Capital.   On October 29, 2021, EV Insurance Company, Inc. (“EVCO”) was formed as a captive insurance company in the State of Delaware. EVCO is a wholly owned subsidiary of Ozop Capital. On January 7, 2022, EVCO filed with New Castle County, Delaware DBA OZOP Plus.   On February 25, 2022, the Company formed Ozop Engineering and Design, Inc. (“OED”) a Nevada corporation, as a wholly owned subsidiary of the Company. OED was formed to become a premier engineering and lighting control design firm. OED offers product and design support for lighting and solar projects with a focus on fast lead times and technical support. OED and our partners are able to offer the resources needed for lighting, solar and electrical design projects. OED will provide customers systems to coordinate the understanding of electrical usage with the relationship between lighting design and lighting controls, by developing more efficient ecofriendly designs. We work with architects, engineers, facility managers, electrical contractors and engineers.   On June 11, 2024, the Company formed Automated Room Controls, Inc. (“ARC”) a Nevada corporation, as a wholly owned subsidiary of the Company. ARC was created to address a significant need in the lighting controls industry. ARC’s personnel has extensive experience in lighting controls since 2012, bringing together IT specialists and lighting control experts.   We believe that easy deployment and creative applications can transform lighting controls into essential tools for enhancing the utility and ambiance of any space. The Company’s mission is to deliver cutting-edge technology that simplifies complex control needs, ensuring seamless integration and exceptional performance.   On May 5, 2023, the Board of Directors of the Company approved to amend the Company’s Articles of Incorporation (the “2023 Amendment”) to increase the authorized capital stock of the Company to 7,000,000,000 shares, of which 6,990,000,000 shall be authorized as common shares and 10,000,000 shall be authorized as preferred shares. The Company filed the 2023 Amendment with the State of Nevada on June 23, 2023.   On June 4, 2024, the Board of Directors of the Company approved to amend the Company’s Articles of Incorporation (the “2024 Amendment”) to increase the authorized capital stock of the Company to 9,000,000,000 shares, of which 8,990,000,000 shall be authorized as common shares and 10,000,000 shall be authorized as preferred shares. The Company filed the 2024 Amendment with the State of Nevada on July 22, 2024.

GOING CONCERN AND MANAGEMENT’S PLANS	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
GOING CONCERN AND MANAGEMENT’S PLANS	NOTE 2 – GOING CONCERN AND MANAGEMENT’S PLANS   The accompanying unaudited consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. As of June 30, 2024, the Company had an accumulated deficit of $221,386,066 and a working capital deficit of $28,736,003 (including derivative liabilities of $570,497). As of June 30, 2024, the Company was in default of $3,315,000 plus accrued interest on debt instruments due to non-payment upon maturity dates. These factors, among others, raise substantial doubt about the ability of the Company to continue as a going concern for one year from the date of the issuance of these financial statements. The accompanying financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classification of liabilities that may result from the possible inability of the Company to continue as a going concern.   Management’s Plans   As a public company, Management believes it will be able to access the public equities market for fund raising for product development, sales and marketing and inventory requirements as we expand our distribution in the U.S. market.   On May 2, 2023, the Company entered into an Equity Financing Agreement (the “Financing Agreement”) and Registration Rights Agreement (the “Registration Rights Agreement”) with GHS. Under the terms of the Financing Agreement, GHS has agreed to provide the Company with up to $10,000,000 of funding upon effectiveness of a registration statement on Form S-1. Pursuant to the effectiveness of the registration statement on July 19, 2023, the Company has the right to deliver puts to GHS and GHS will be obligated to purchase shares of our common stock based on the investment amount specified in each put notice. The maximum amount that the Company shall be entitled to put to GHS in each put notice will not exceed two hundred fifty percent (250%) of the average of the daily trading dollar volume of the Company’s common stock during the ten (10) trading days preceding the put, so long as such amount does not exceed 4.99% of the outstanding shares of the Company. Pursuant to the Financing Agreement, GHS and its affiliates will not be permitted to purchase, and the Company may not put shares of the Company’s common stock to GHS that would result in GHS’s beneficial ownership equaling more than 4.99% of the Company’s outstanding common stock. The price of each put share shall be equal to eighty percent (80%) of the lowest daily volume weighted average price of the Company’s common stock for the ten (10) consecutive trading days preceding the date on which the applicable put is delivered to GHS. No put will be made in an amount equaling less than $10,000 or greater than $750,000. Puts may be delivered by the Company to GHS until the earlier of twenty-four (24) months after the effectiveness of the registration statement on Form S-1 or the date on which GHS has purchased an aggregate of $10,000,000 worth of put shares. During the year ended December 31, 2023, the Company sold to GHS 587,432,649 shares of common stock and received $1,230,043 net of offering costs. During the six months ended June 30, 2024, the Company sold to GHS 146,517,693 shares of common stock for proceeds of $172,117 net of offering costs.   On January 26, 2024, the Company receive a Notice of Effectiveness for the sale of up to One Billion (1,000,000,000) shares of the Company’s common stock to GHS, pursuant to the May 2, 2023, Financing Agreement and Registration Rights Agreement. The terms and conditions are similar to the terms and conditions of the July 19, 2023, registration statement. During the six months ended June 30, 2024, the Company sold to GHS 1,000,000,000 shares of common stock and received $760,160, net of offering costs.   OES operates in the renewable, electric vehicle (“EV”), energy storage and energy resiliency sectors. We are engaged in multiple business lines that include project development as well as equipment distribution.   Equipment Distributor: In April 2021, the Company signed a five-year lease (beginning June 1, 2021) of approximately 8,100 SF in California, for office and warehouse space to support the sales and distribution of our west coast operations. On February 22, 2023, with an effective date of March 1, 2023, the Company entered into a Sublease for a Single Subleasee Agreement (the “Sublease”) with the landlord and a third party for the office and warehouse in Carlsbad California. Pursuant to the Sublease agreement, the third party will be responsible for all of the Company’s lease obligations through May 31, 2026, the lease termination date. The Company and the subleasee have agreed to work together regarding any existing Company inventory in the facility. OES currently is focused on solar panel sales to other distributors and large installation companies.     Modular Energy Distribution System: The Neo-GridTM System comprises of the design engineering, installation, and operational methodologies as well as the financial arbitrage of how we produce, capture and distribute electrical energy for the EV markets. The Company has acquired the license rights to the Neo-GridTM System, a proprietary system (patent pending), for the capture and distribution of electrical energy for the EV market. The Neo-GridTM System will serve both the private auto and the commercial sectors. Our Neo-GridTM System offers (1) charging locations that can be installed with reduced delays, restricted areas or load limits and (2) EV charger electricity that is produced from renewable sources claiming little to no carbon footprint.   The Company has developed a business plan for the Neo-GridTM System for the distribution of electrical energy providing a solution to the inevitable stress to the existing grid infrastructure. The Company has completed its’ research and development of the Neo-GridTM System as well as completed the first set of engineered technical drawings. This first stage of the engineered technical drawings allows us to move forward with stage two, as well as to begin to construct the first prototype or proof of concept, (“PoC”). Our PoC design is partially reliant on auto manufacturers establishing standardizations of the actual charging/discharging protocols of the batteries such as on-board inverters as well as bi-directional capabilities in electric vehicles, which have only recently been established.   Ozop Plus markets vehicle service contracts (“VSC’s”) for electric vehicles (EV’s) that offer consumers to be able to purchase additional months and miles above the manufacturer’s warranty and to also bring added value to EV owners by utilizing our partnerships and strengths in the energy market to offer unique and innovative services. Among EV owners’ concerns are the EV battery repair and replacement costs, range anxiety, environmental responsibilities, roadside assistance, and the accelerated wear on additional components that EV vehicles experience. Management believes that the Ozop Plus marketed VSC’s will give “peace of mind” to the EV buyer.   ARC is developing products to be an advanced lighting controls system, intricately engineered to integrate sophisticated wired and wireless technologies. At its core, it employs a hybrid network topology that facilitates both resilient wired connections and flexible wireless communications, making it suitable for complex infrastructural environments. The system is equipped with an array of sensors and control nodes, enabling precise light management and energy usage monitoring. With support for protocols such as DALI and Zigbee, alongside the capability for seamless integration with IoT platforms, ARC offers a comprehensive solution for intricate lighting networks. This system is designed not just for control and efficiency, but also for adaptability to diverse architectural and electrical layouts, embodying a technical solution for advanced, energy-conscious lighting management.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES   Basis of Presentation   The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial statements and with the instructions to Form 10-Q and Article 8 of Regulation S-X of the SEC. Accordingly, they do not contain all information and footnotes required by accounting principles generally accepted in the United States of America for annual financial statements. In the opinion of the Company’s management, the accompanying unaudited consolidated financial statements contain all the adjustments necessary (consisting only of normal recurring accruals) to present the financial position of the Company as of June 30, 2024, and the results of operations and cash flows for the periods presented. The results of operations for the three and six months ended June 30, 2024, are not necessarily indicative of the operating results for the full fiscal year or any future period. These unaudited consolidated financial statements should be read in conjunction with the financial statements and related notes thereto included in the Company’s Current Report on Form 10-K filed on April 16, 2024.   The unaudited consolidated financial statements include the accounts of the Company and Ozop Energy Systems, Inc. and the Company’s other wholly owned subsidiaries Ozop Capital Partners, Inc., Ozop Engineering and Design, Inc., Automated Room Controls, Inc., Power Conversion Technologies, Inc. (“PCTI”), Ozop LLC, Ozop HK and Spinus, LLC (“Spinus”). All intercompany accounts and transactions have been eliminated in consolidation. The accompanying unaudited consolidated financial statements are prepared in accordance with Generally Accepted Accounting Principles in the United States of America (“US GAAP”).     Use of Estimates   The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amount of revenues and expenses during the reported period. Actual results could differ from those estimates.   Cash and Cash Equivalents   The Company considers all highly liquid investments with an original term of three months or less to be cash equivalents. These investments are carried at cost, which approximates fair value. Cash and cash equivalent balances may, at certain times, exceed federally insured limits. The Company has no cash equivalents at June 30, 2024, and December 31, 2023.   Sales Concentration and credit risk   Following is a summary of customers who accounted for more than ten percent (10%) of the Company’s revenues for the three and six months ended June 30, 2024, and 2023, and their accounts receivable balance as of June 30, 2024:        Sales % Three Months Ended June 30, 2024     Sales % Six Months Ended June 30, 2024     Sales % Three Months Ended June 30, 2023     Sales % Six Months Ended June 30, 2023     Accounts receivable balance June 30, 2024   Customer A     91.4 %     72.1 %      N/A       N/A     $ -   Customer B     N/A       18.9 %     N/A       N/A     $ 9,000   Customer C     N/A       N/A       84.4 %     93.1 %   $ -   Customer D     N/A       N/A       13.1 %     N/A     $ -     Accounts Receivable   The Company records accounts receivable at the time products and services are delivered. An allowance for losses is established through a provision for losses charged to expenses. Receivables are charged against the allowance for losses when management believes collectability is unlikely. The allowance (if any) is an amount that management believes will be adequate to absorb estimated losses on existing receivables, based on evaluation of the collectability of the accounts and prior loss experience.   Inventory   Inventories are valued at the lower of cost or net realizable value, with cost determined on the first-in, first-out basis. Inventory costs consist of finished goods. In evaluating the net realizable value of inventory, management also considers, if applicable, other factors, including known trends, market conditions, currency exchange rates and other such issues. Finished goods inventories as of June 30, 2024, and December 31, 2023, were $217,442 and $1,089,979, respectively. Based on current market conditions related to solar panels including but not limited to reduced selling prices in the industry and the abundance of inventory supply in the market, management determined that the net realizable value of certain of the Company’s inventory required a lower of cost or market adjustment of $1,495,978 to the historical cost of inventory purchases for the year ended December 31, 2023 (of which $625,000 was recorded as of June 30, 2023). There are no inventory markdowns for the three and six months ended June 30, 2024.     Purchase concentration   OES purchases finished renewable energy products from its suppliers. For the three and six months ended June 30, 2023, there was one supplier that accounted for 100%. For the three and six months ended June 30, 2024, the Company made no purchases.   Property, plant, and equipment   Property and equipment are stated at cost, and depreciation is provided by use of a straight-line method over the estimated useful lives of the assets.   The Company reviews property and equipment for potential impairment whenever events or changes in circumstances indicate that the carrying amounts of assets may not be recoverable. The estimated useful lives of property and equipment is as follows:      Building 10-25 years   Office furniture and equipment 3-5 years   Warehouse equipment 7 years   Revenue Recognition   The Company recognizes revenue in accordance with ASC 606, from the commercial sales of products or providing services by: (1) identify the contract (if any) with a customer; (2) identify the performance obligations in the contract (if any); (3) determine the transaction price; (4) allocate the transaction price to each performance obligation in the contract (if any); and (5) recognize revenue when each performance obligation is satisfied. The Company has no outstanding contracts with any of its’ customers. The Company recognizes revenue when title, ownership, and risk of loss pass to the customer, all of which occurs upon shipment or delivery of the product and is based on the applicable shipping terms for product sales or upon delivery of service to the customer for installation services. Any advance payments are recorded as current liability until revenue is recognized.   For product sales contracts with customers, ownership of the goods and associated revenue are transferred to customers at a point in time, generally upon shipment of a product to the customer or receipt of the product by the customer and without significant judgments. For the periods covered herein, we did not have post shipment obligations such as training or installation, customer acceptance provisions, credits and discounts, rebates and price protection, or other similar privileges.   For installation services contracts with customers, the Company invoices the customer upon completion of the job and recognizes revenue based on the invoiced amount.   The following table disaggregates our revenue by major source for the three and six months ended June 30, 2024, and 2023:        Three months ended June 30,     Six months ended June 30,       2024     2023     2024     2023   Sourced and distributed products   $ 879,552     $ 1,213,826     $ 954,774     $ 3,972,624   OED Installations     62,420       27,500       238,920       59,900   Total   $ 941,972     $ 1,241,326     $ 1,193,694     $ 4,032,524     Revenues from sourced and distributed products were previously purchased from suppliers as finished goods and were either in the Carlsbad warehouse or in a third-party warehouse.     Advertising and Marketing Expenses   The Company expenses advertising and marketing costs as incurred. For the three and six months ended June 30, 2024, the Company recorded advertising and marketing expenses of $12,878 and $28,549, respectively. For the three and six months ended June 30, 2023, the Company recorded advertising and marketing expenses of $13,398 and $31,170, respectively.   Convertible Instruments   The Company evaluates and accounts for conversion options embedded in convertible instruments in accordance with ASC 815, Derivatives and Hedging Activities.   Applicable GAAP requires companies to bifurcate conversion options from their host instruments and account for them as free-standing derivative financial instruments according to certain criteria. The criteria include circumstances in which (a) the economic characteristics and risks of the embedded derivative instrument are not clearly and closely related to the economic characteristics and risks of the host contract, (b) the hybrid instrument that embodies both the embedded derivative instrument and the host contract is not re-measured at fair value under other GAAP with changes in fair value reported in earnings as they occur and (c) a separate instrument with the same terms as the embedded derivative instrument would be considered a derivative instrument.   The Company accounts for convertible instruments (when it has been determined that the embedded conversion options should not be bifurcated from their host instruments) as follows: The Company records, when necessary, discounts to convertible notes for the intrinsic value of conversion options embedded in debt instruments based upon the differences between the fair value of the underlying common stock at the commitment date of this note transaction and the effective conversion price embedded in this note. Debt discounts under these arrangements are amortized over the term of the related debt to their stated date of redemption.   The Company accounts for the conversion of convertible debt when a conversion option has been bifurcated using the general extinguishment standards. The debt and equity linked derivatives are removed at their carrying amounts and the shares issued are measured at their then-current fair value, with any difference recorded as a gain or loss on extinguishment of the two separate accounting liabilities.   Discontinued Operations   In accordance with ASC 205-20 Presentation of Financial Statements: Discontinued Operations, a disposal of a component of an entity or a group of components of an entity is required to be reported as discontinued operations if the disposal represents a strategic shift that has (or will have) a major effect on an entity’s operations and financial results when the components of an entity meet the criteria in paragraph 205-20-45-10. In the period in which the component meets held-for-sale or discontinued operations criteria the major current assets, other assets, current liabilities, and noncurrent liabilities shall be reported as components of total assets and liabilities separate from those balances of the continuing operations. At the same time, the results of all discontinued operations, less applicable income taxes (benefit), shall be reported as components of net income (loss) separate from the net income (loss) of continuing operations.   On September 1, 2022, the BOD of the Company authorized the filing of a Chapter 7 proceeding which meets the definition of a discontinued operation. Accordingly, the operating results of PCTI are reported as income from discontinued operations in the accompanying unaudited consolidated financial statements for the three and six months ended June 30, 2024, and 2023. For additional information, see Note 14- Discontinued Operations.   Distinguishing Liabilities from Equity   The Company relies on the guidance provided by ASC Topic 480, Distinguishing Liabilities from Equity, to classify certain redeemable and/or convertible instruments. The Company first determines whether a financial instrument should be classified as a liability. The Company will determine the liability classification if the financial instrument is mandatorily redeemable, or if the financial instrument, other than outstanding shares, embodies a conditional obligation that the Company must or may settle by issuing a variable number of its equity shares.   Once the Company determines that a financial instrument should not be classified as a liability, the Company determines whether the financial instrument should be presented between the liability section and the equity section of the balance sheet (“temporary equity”). The Company will determine temporary equity classification if the redemption of the financial instrument is outside the control of the Company (i.e. at the option of the holder). Otherwise, the Company accounts for the financial instrument as permanent equity.     Our CEO and Chairman holds sufficient shares of the Company’s voting preferred stock that give sufficient voting rights under the articles of incorporation and bylaws of the Company such that the CEO and Chairman can at any time unilaterally vote to increase the number of authorized shares of common stock of the Company, without the need to call a general meeting of common shareholders of the Company.   Initial Measurement   The Company records its financial instruments classified as liability, temporary equity, or permanent equity at issuance at the fair value, or cash received.   Subsequent Measurement – Financial Instruments Classified as Liabilities   The Company records the fair value of its financial instruments classified as liabilities at each subsequent measurement date. The changes in the fair value of its financial instruments classified as liabilities are recorded as other income (expenses).   Fair Value of Financial Instruments   The Company measures assets and liabilities at fair value based on an expected exit price as defined by the authoritative guidance on fair value measurements, which represents the amount that would be received on the sale of an asset or paid to transfer a liability, as the case may be, in an orderly transaction between market participants. As such, fair value may be based on assumptions that market participants would use in pricing an asset or liability. The authoritative guidance on fair value measurements establishes a consistent framework for measuring fair value on either a recurring or nonrecurring basis whereby inputs, used in valuation techniques, are assigned a hierarchical level.   The following are the hierarchical levels of inputs to measure fair value:     ● Level 1 - Observable inputs that reflect quoted market prices in active markets for identical assets or liabilities.   ● Level 2 - Inputs reflect quoted prices for identical assets or liabilities in markets that are not active; quoted prices for similar assets or liabilities in active markets; inputs other than quoted prices that are observable for the assets or liabilities; or inputs that are derived principally from or corroborated by observable market data by correlation or other means.   ● Level 3 - Unobservable inputs reflecting the Company’s assumptions incorporated in valuation techniques used to determine fair value. These assumptions are required to be consistent with market participant assumptions that are reasonably available.   From time to time, certain of the Company’s embedded conversion features on debt and outstanding warrants have been treated as derivative liabilities for accounting purposes under ASC 815 due to insufficient authorized shares to fully settle conversion features of the instruments if exercised. In this case, the Company utilized the latest inception date sequencing method to reclassify outstanding instruments as derivative instruments. These contracts were recognized at fair value with changes in fair value recognized in earnings until such time as the conditions giving rise to such derivative liability classification were settled.   The carrying amounts of the Company’s financial assets and liabilities, such as cash, prepaid expenses, other current assets, accounts payable and accrued expenses and certain notes payable, approximate their fair values because of the short maturity of these instruments.     The following table represents the Company’s derivative instruments that are measured at fair value on a recurring basis as of June 30, 2024, and December 31, 2023, for each fair value hierarchy level:    June 30, 2024   Derivative Liabilities     Total   Level I   $ -     $ -   Level II   $ -     $ -   Level III   $ 570,497     $ 570,497     December 31, 2023   Derivative Liabilities     Total   Level I   $ -     $ -   Level II   $ -     $ -   Level III   $ 1,216,078     $ 1,216,078     Leases   The Company accounts for leases under ASU 2016-02 (see Note 13), applying the package of practical expedients to leases that commenced before the effective date whereby the Company elected to not reassess the following: (i) whether any expired or existing contracts contain leases; (ii) the lease classification for any expired or existing leases; and (iii) initial direct costs for any existing leases. For contracts entered into on or after the effective date, at the inception of a contract the Company assess whether the contract is, or contains, a lease. Our assessment is based on: (1) whether the contract involves the use of a distinct identified asset, (2) whether we obtain the right to substantially all the economic benefit from the use of the asset throughout the period, and (3) whether we have the right to direct the use of the asset. We allocate the consideration in the contract to each lease component based on its relative stand-alone price to determine the lease payments.   Operating lease ROU assets represent the right to use the leased asset for the lease term and operating lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at commencement date. As most leases do not provide an implicit rate, the Company used an incremental borrowing rate of 7.5% for the existing lease, based on the information available at the adoption date in determining the present value of future payments. Operating lease expense is recognized pursuant to on a straight-line basis over the lease term and is included in rent in the unaudited consolidated statements of operations.   Income Taxes   Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance on deferred tax assets is established when management considers it is more likely than not that some portion or all of the deferred tax assets will not be realized.   Tax benefits from an uncertain tax position are only recognized if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position are measured based on the largest benefit that has a greater than fifty percent likelihood of being realized upon ultimate resolution. Interest and penalties related to unrecognized tax benefits are recorded as incurred as a component of income tax expense. The Company has not recognized any tax benefits from uncertain tax positions for any of the reporting periods presented.   Segment Policy   The Company has no reportable segments as it operates in one segment: renewable energy.     Earnings (Loss) Per Share   The Company reports earnings (loss) per share in accordance with ASC 260, “Earnings per Share.” Basic earnings (loss) per share is computed by dividing net income (loss) by the weighted-average number of shares of common stock outstanding during each period. Diluted earnings per share is computed by dividing net income (loss) by the weighted-average number of shares of common stock, common stock equivalents and other potentially dilutive securities outstanding during the period. As of June 30, 2024, and 2023, the Company’s dilutive securities are convertible into approximately 11,700,915,235 and 8,508,178,172 shares of common stock respectively. The following table represents the classes of dilutive securities as of June 30, 2024, and 2023:        June 30, 2024     June 30, 2023   Convertible preferred stock (1)     9,942,046,640       7,341,121,127   Unexercised common stock purchase warrants (1)     807,024,518       1,047,024,518   Convertible notes payable (1)     89,035,858       11,023,739   Promissory notes payable (1)     862,808,219       109,008,788       11,700,915,235       8,508,178,172     (1) The potentially dilutive shares included in the above table are limited whereby the conversion or exercise cannot result in the beneficial owner holding more than 4.99% of the then outstanding shares of common stock subsequent to any conversion or exercise. These shares were excluded from the diluted per share calculation because the effect of including these potential shares was anti-dilutive due to the Company’s net loss position.   Recent Accounting Pronouncements   In August 2020, the FASB issued Accounting Standards Update (“ASU”) No. 2020-06, Debt - Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging —Contracts in Entity’ Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’ Own Equity (“ASU 2020-06”), which simplifies accounting for convertible instruments by removing major separation models required under current GAAP. The ASU also removes certain settlement conditions that are required for equity-linked contracts to qualify for the derivative scope exception, and it simplifies the diluted earnings per share calculation in certain areas. The Company does not believe the adoption of the ASU will have a material impact on the Company’s financial position, results of operations or cash flows.   Other than the above, there have been no recent accounting pronouncements or changes in accounting pronouncements during the period ended June 30, 2024, that are of significance or potential significance to the Company.

PROPERTY AND EQUIPMENT	6 Months Ended
	Jun. 30, 2024
Property, Plant and Equipment [Abstract]
PROPERTY AND EQUIPMENT	NOTE 4 – PROPERTY AND EQUIPMENT   The following table summarizes the Company’s property and equipment:        June 30, 2024     December 31, 2023   Office equipment   $ 232,251     $ 224,733   Building and building improvements     600,000       600,000                     Less: Accumulated Depreciation     (242,503 )     (205,834 ) Property and Equipment, Net   $ 589,748     $ 618,899     Depreciation expenses were $19,213 and $36,669 for the three and six months ended June 30, 2024, and $22,994 and $46,016 for the three and six months ended June 30, 2023, respectively.

CONVERTIBLE NOTES PAYABLE	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
CONVERTIBLE NOTES PAYABLE	NOTE 5 - CONVERTIBLE NOTES PAYABLE   On July 10, 2020, PCTI (the accounting acquirer) assumed the balance of a past-due 15% convertible note issued by the Company on September 13, 2017. As of June 30, 2024, and December 31, 2023, the outstanding principal balance of this note was $25,000.

DERIVATIVE LIABILITIES	6 Months Ended
	Jun. 30, 2024
Derivative Liabilities
DERIVATIVE LIABILITIES	NOTE 6 – DERIVATIVE LIABILITIES   The Company determined the conversion feature of the convertible notes, which all contain variable conversion rates, represented an embedded derivative since the notes were convertible into a variable number of shares upon conversion. Accordingly, the notes are not considered to be conventional debt under ASC 815 and the embedded conversion feature was bifurcated from the debt host and accounted for as a derivative liability.   At any given time, certain of the Company’s embedded conversion features on debt and outstanding warrants may be treated as derivative liabilities for accounting purposes under ASC 815-40 due to insufficient authorized shares to settle these outstanding contracts. Pursuant to SEC staff guidance that permits a sequencing approach based on the use of ASC 815-15-25 which provides guidance for contracts that permit partial net share settlement. The sequencing approach may be applied in one of two ways: contracts may be evaluated based on (1) earliest issuance date or (2) latest maturity date. Pursuant to the sequencing approach, the Company evaluates its contracts based upon the latest maturity date.   The Company valued the derivative liabilities as of June 30, 2024, and December 31, 2023, at $570,497 and $1,216,078 respectively. For the derivative liability associated with convertible notes, the Company used the Monte Carlo simulation valuation model with the following assumptions as of June 30, 2024, and December 31, 2023, risk free interest rates at 5.33% and 5.26%, respectively, and volatility of 113% and 48%, respectively.   The following assumptions were utilized in the Black-Scholes valuation of outstanding warrants as of June 30, 2024, and December 31, 2023, risk free interest rates of 4.63% to 5.33%, and 4.3% to 5.26%, respectively, volatility of 113% to 134%, and 48% to 99%, respectively, and exercise prices of $0.0019 to $0.039, and $0.0019 to $0.15, respectively.   A summary of the activity related to derivative liabilities for the six months ended June 30, 2024, is as follows:        Derivative liabilities associated with warrants     Derivative liabilities associated with convertible notes     Total derivative liabilities                       Balance January 1, 2024   $ 1,187,076     $ 29,002     $ 1,216,078   Change in fair value     (651,334 )     5,753       (645,581 ) Balance June 30, 2024   $ 535,742     $ 34,755     $ 570,497

NOTES PAYABLE	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
NOTES PAYABLE	NOTE 7 – NOTES PAYABLE   The Company has the following notes payable outstanding:        June 30, 2024     December 31, 2023                 Note payable, interest at 8% or 20% (if default), matured January 5, 2020, currently in default   $ 45,000     $ 45,000   Other, due on demand, interest at 6%, currently in default     50,000       50,000   Note payable $750,000 face value, interest at 12% or 24% (if default), matured August 24, 2021, currently in default     375,000       375,000   Note payable $389,423 face value, interest at 15%, matures November 6, 2025, net of discount of $76,740 (2024) and $105,220 (2023)     312,683       284,203   Note payable $1,000,000 face value, interest at 12% or 24% (if default), matured November 13, 2021, currently in default     1,000,000       1,000,000   Note payable $2,200,000 face value, interest at 15%, matures October 31, 2024, net of discount of $56,667 (2024) and $141,667 (2023)     2,143,333       2,058,333   Note payable $11,110,000 face value, interest at 15%, matures October 31, 2024, net of discount of $283,333 (2024) and $708,333 (2023)     10,826,667       10,401,667   Note payable $3,300,000 face value, interest at 15%, matures October 31, 2024, net of discount of $85,000 (2024) and $212,500 (2023)     3,215,000       3,087,500   Note payable $3,020,000 face value, matured March 31, 2023, currently in default     1,820,000       1,820,000   Sub-total notes payable, net of discount     19,787,683       19,121,703   Less long-term portion, net of discount     312,683       284,203   Current portion of notes payable, net of discount   $ 19,475,000     $ 18,837,500     On November 11, 2022, the Company entered into a non-interest bearing, $3,020,000 face value promissory note with a third-party lender with scheduled weekly payments and a maturity date of March 31, 2023. In exchange for the issuance of the $3,020,000 note, inclusive of an original issue discount of $250,000, and the reclass of $260,000 from accounts payable and accrued expenses the Company received proceeds of $2,510,000 on November 11, 2022, from the lender. For the six months ended June 30, 2023, amortization of the original issue discount of $181,818 was charged to interest expense. The original issue discount of $250,000 has been fully amortized as of March 31, 2023. The Company has repaid total $1,200,000 of the principal of the note through June 30, 2024, including $250,000 during the year ended December 31, 2022, and $950,000 during the year ended December 31, 2023 (among which, $550,000 was repaid during the six months ended June 30, 2023). As of June 30, 2024, and December 31, 2023, the outstanding principal balance of this note was $1,820,000 and $1,820,000, respectively. The Company is in default on the weekly payments. The Company is currently in discussions with the lender regarding an extension of the maturity date.     On December 7, 2021, the Company entered into a 12%, $3,300,000 face value promissory note with a third-party lender with a maturity date of December 7, 2022. In exchange for the issuance of the $3,300,000 note, inclusive of an original issue discount of $300,000, the Company received proceeds of $3,000,000 on December 13, 2021, from the lender. On October 31, 2022, the maturity date of the note was extended to October 31, 2024, and the interest rate was increased to 15% per annum. The Company issued 75,000,000 warrants at an exercise price of $0.0067 and with an expiration of October 31, 2025, in exchange for the extension. The warrants were valued at $510,000 by the Black-Scholes option pricing method and will be amortized through the new maturity date of the note. The Company determined that this transaction was a modification of the existing note. For the three and six months ended June 30, 2024, and 2023, $63,750 and $127,500 was charged to interest expense. As of June 30, 2024, and December 31, 2023, the outstanding principal balance of this note was $3,300,000 with carrying values of $3,215,000 and $3,087,500, respectively, net of unamortized discounts of $85,000 and $212,500 as of June 30, 2024, and December 31, 2023, respectively.   On March 17, 2021, the Company entered into a 12%, $11,110,000 face value promissory note with a third-party lender with a maturity date of March 17, 2022. In exchange for the issuance of the $11,110,000 note, inclusive of an original issue discount of $1,000,000 and lender costs of $110,000 the Company received proceeds of $10,000,000 on March 23, 2021, from the lender. On October 31, 2022, the maturity date of the note was extended to October 31, 2024, and the interest rate was increased to 15% per annum. The Company issued 250,000,000 warrants at an exercise price of $0.0067 and with an expiration of October 31, 2025, in exchange for the extension. The warrants were valued at $1,700,000 by the Black-Scholes option pricing method and will be amortized through the new maturity date of the note. The Company determined that this transaction was a modification of the existing note. For the three and six months ended June 30, 2024, and 2023, $212,500 and $425,000 was charged to interest expense. As of June 30, 2024, and December 31, 2023, the outstanding principal balance of this note was $11,110,000 with a carrying value of $10,826,667 and $10,401,667, respectively, net of unamortized discounts of $283,333 and $708,333, respectively.   On February 9, 2021, the Company entered into a 12%, $2,200,000 face value promissory note with a third-party lender with a maturity date of February 9, 2022. In exchange for the issuance of the $2,200,000 note, inclusive of an original issue discount of $200,000 the Company received proceeds of $2,000,000 on February 16, 2021, from the lender. On October 31, 2022, the maturity date of the note was extended to October 31, 2024, and the interest rate was increased to 15% per annum. The Company issued 50,000,000 warrants at an exercise price of $0.0067 and with an expiration of October 31, 2025, in exchange for the extension. The warrants were valued at $340,000 by the Black-Scholes option pricing method and will be amortized through the new maturity date of the note. The Company determined that this transaction was a modification of the existing note. For the three and six months ended June 30, 2024, and 2023, $42,500 and $85,000 was charged to interest expense. As of June 30, 2024, and December 31, 2023, the outstanding principal balance of this note was $2,200,000 with a carrying value of $2,143,333 and $2,058,333, respectively, net of unamortized discounts of $56,667 and $141,667, respectively.   On November 13, 2020, the Company entered into a 12%, $1,000,000 face value promissory note with a third-party due November 13, 2021. Principal payments shall be made in six instalments of $166,667 commencing 180 days from the issue date and continuing each 30 days thereafter for 5 months and the final payment of principal and interest due on the maturity date. The Company received proceeds of $890,000 on November 20, 2020, and the Company reimbursed the investor for expenses for legal fees and due diligence of $110,000. In conjunction with this note, the Company issued 2 common stock purchase warrants; each warrant entitles the Holder to purchase 125,000,000 shares of common stock at an exercise price of $0.008, subject to adjustments and expires on the five-year anniversary of the issue date. As of June 30, 2024, and December 31, 2023, the outstanding principal balance of this note was $1,000,000. This note is in default and the interest rate from the date of default is the lesser of 24% or the highest amount permitted by law. As of June 30, 2024, and December 31, 2023, the accrued interest is $735,452 and $615,452, respectively. The Company is in discussions with the lender regarding the extension of the maturity date of this note.   On November 6, 2020, the Company entered into a Settlement Agreement with the holder of $120,000 of convertible notes with accrued and unpaid interest of $8,716 and a $210,000 Promissory Note dated June 23, 2020, with accrued and unpaid interest of $15,707. The Company issued a new 12% Promissory Note with a face value of $389,423 and a maturity date of November 6, 2023. In conjunction with this settlement, the Company issued a warrant to purchase 60,000,000 shares of common stock at an exercise price of $0.0075, subject to adjustments and expires on the five-year anniversary of the issue date. The Company analyzed the transaction and concluded that this was a modification to the existing debt. The investor exercised the warrant on January 14, 2021. On November 6, 2023, the maturity date of the note was extended to November 6, 2025, and the interest rate was increased to 15% per annum. The Company issued 60,000,000 warrants at an exercise price of $0.0019 and with an expiration of November 6, 2026, in exchange for the extension. The warrants were valued at $113,921 by the Black-Scholes option pricing method and will be amortized through the new maturity date of the note. The Company determined that this transaction was a modification of the existing note. For the three and six months ended June 30, 2024, $14,240 and $28,480 was charged to interest expense. As of June 30, 2024, and December 31, 2023, the outstanding principal balance of this note was $389,423 with a carrying value of $312,683 and $284,203, respectively, net of unamortized discounts of $76,740 and $105,220, respectively.   On August 24, 2020 (the “Issue Date”), the Company entered into a 12%, $750,000 face value promissory note with a third-party (the “Holder”) due August 24, 2021 (the “Maturity Date”). Principal payments shall be made in six instalments of $125,000 commencing 180 days from the Issue Date and continuing each 30 days thereafter for 5 months and the final payment of principal and interest due on the Maturity Date. The Holder shall have the right from time to time, and at any time following an event of default, as defined on the agreement, to convert all or any part of the outstanding and unpaid principal, interest and any other amounts due into fully paid and non-assessable shares of common stock of the Company, at the lower of i) the Trading Price (as defined in the agreement) during the previous five trading days prior to the Issuance Date or ii) the volume weighted average price during the five trading days ending on the day preceding the conversion date. The Company received proceeds of $663,000 on August 25, 2020, and the Company reimbursed the investor for expenses for legal fees and due diligence of $87,000. In conjunction with this Note, the Company issued 2 common stock purchase warrants; each warrant entitles the Holder to purchase 122,950,819 shares of common stock at an exercise price of $0.0061, subject to adjustments and expires on the five-year anniversary of the Issue Date. As of June 30, 2024, and December 31, 2023, the outstanding principal balance of this note was $375,000. This note is in default and the interest rate from the date of default is the lesser of 24% or the highest amount permitted by law. As of June 30, 2024, and December 31, 2023, the accrued interest is $315,247 and $270,247, respectively. The Company is in discussions with the lender regarding the extension of the maturity date of this note.

DEFERRED LIABILITY	6 Months Ended
	Jun. 30, 2024
Deferred Liability
DEFERRED LIABILITY	NOTE 8 – DEFERRED LIABILITY   On September 2, 2020, PCTI entered into an agreement with a third-party. Pursuant to the terms of the agreement, in exchange for $750,000, PCTI agreed to pay the third-party a perpetual three percent (3%) payment of revenues, as defined in the agreement. Payments are due ninety (90) days after each calendar quarter, with the first payment due on or before March 31, 2021, for revenues for the quarter ending December 31, 2020. On February 26, 2021, the agreement was assigned to Ozop and on March 4, 2021, the note was amended, whereby in exchange for 175,000,000 shares of common stock, the royalty percentage was amended to 1.8%.   No payments have been made and the Company is in default of the agreement. On November 11, 2022, the third-party and the Company agreed to reduce the liability by $260,000 and add $260,000 to the promissory note issued on November 11, 2022.   EV Insurance Company records premiums received from the issuance of Vehicle Service Contracts (“VSC’s”) as a deferred liability. The Company will analyze the deferred liability to determine if any amounts can be recorded as income with the balance remaining in deferred liabilities for potential future claims. As of June 30, 2024, and December 31, 2023, the Company has recorded $6,075 and $495 as deferred liabilities related to VSC’s.   The deferred liability as of June 30, 2024, and December 31, 2023, on the consolidated balance sheets is $496,075 and $490,495, respectively.

RELATED PARTY TRANSACTIONS	6 Months Ended
	Jun. 30, 2024
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	NOTE 9 – RELATED PARTY TRANSACTIONS   Employment Agreement   On July 10, 2020, pursuant to the PCTI transaction, the Company assumed an employment contract entered into on February 28, 2020, between the Company and Mr. Conway (the “Employment Agreement”). Mr. Conway’s compensation as adjusted was $20,000 per month. Effective January 1, 2022, the Company entered into a new employment agreement with Mr. Conway. Pursuant to the agreement, Mr. Conway will receive annual compensation of $240,000 from the Company and will also be eligible to receive bonuses and equity grants at the discretion of the BOD. The Company also agreed to compensate Mr. Conway for services provided directly to any of the Company’s subsidiaries. Currently, the subsidiaries of Ozop Capital, OES and OED, each compensates Mr. Conway $20,000 per month. For the three and six months ended June 30, 2024, the Company recorded expenses to Mr. Conway of $240,000 and $480,000, respectively. For the three and six months ended June 30, 2023, the Company recorded expenses of $240,000 and $480,000, respectively.

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 10 – COMMITMENTS AND CONTINGENCIES   Agreements   On September 1, 2021, Ozop Capital entered into an advisory agreement (the “RMA Agreement”) with Risk Management Advisors, Inc. (“RMA”). Pursuant to the terms of the RMA Agreement, RMA will assist Ozop Capital in analyzing, structuring, and coordinating Ozop Capital’s participation in a captive insurance company. RMA will coordinate legal, accounting, tax, actuarial and other services necessary to implement the Company’s participation in a captive insurance company, including, but not limited to, the preparation of an actuarial feasibility study, filing of all required regulatory applications, domicile selection, structural selection, and coordination of the preparation of legal documentation. The fee for these services was $100,000. Ozop Capital agreed to pay $50,000 and to issue $50,000 of shares of restricted common stock. The parties agreed to a reduced fee of $48,000 for the years ended December 31, 2023, and 2024, which has been accrued as of June 30, 2024 ($96,000), and December 31, 2023 ($48,000), and is included in accounts payable and accrued expenses on the consolidated balance sheets presented herein. As of June 30, 2024, and December 31, 2023, the Company has recorded 637,755 shares of common stock to be issued for the balance owed, in addition to the $48,000.   On March 4, 2019, the Company entered into a Separation Agreement (the “Separation Agreement”) with Salman J. Chaudhry, pursuant to which the Company agreed to pay Mr. Chaudry $227,200 (the “Outstanding Fees”) in certain increments as set forth in the Separation Agreement. As of June 30, 2024, and December 31, 2023, the balance owed Mr. Chaudhry is $162,085.   On September 2, 2020, PCTI entered into an Agreement with a third-party. Pursuant to the terms of the agreement, in exchange for $750,000, PCTI agreed to pay the third-party a perpetual three percent (3%) payment of revenues, as defined in the agreement. On February 26, 2021, the agreement was assigned to Ozop and on March 4, 2021, the agreement was amended, whereby in exchange for 175,000,000 shares of common stock, the royalty percentage was amended to 1.8% (see Note 8). As of June 30, 2024, and December 31, 2023, the Company has recorded $243,272, respectively, and is included in accounts payable and accrued expenses on the consolidated balance sheets presented herein.     Legal matters   We know of no material, existing or pending legal proceedings against our Company.   We are involved as a plaintiff in a Complaint filed in the SUPERIOR COURT OF THE STATE OF CALIFORNIA FOR THE COUNTY OF SAN DIEGO NORTH COUNTY (the “Complaint”) on November 14, 2022. The Complaint alleges that former employees would place an order from a customer for purchase of product from OZOP with funds the exact source of which is presently unknown. OZOP alleges that next, the customer would sell that product to OZOP’s customers at a price marked up from the price for which the customer purchased from OZOP – to the benefit of Defendants and to the detriment of OZOP, their employer at the time. The Complaint further alleges that the former employees falsely represented that the price the customer was obtaining from other suppliers and therefore was willing to pay for OZOP product decreased, which allowed them to use the customer to then sell additional product to OZOP’s customers at increasingly larger margins, thus further wrongfully enriching themselves to the detriment of their employer, OZOP. The lawsuit also alleges that the employees were also making false statements to Ozop’s customers regarding the financial condition of Ozop and the lack of module inventory.   On April 4, 2024, the Company executed a Settlement Agreement (the “Settlement”) with its former employees and Your Home Solutions Corp (“YHS”). YHS and the former employees were all defendants (the “Defendants”) in the Complaint. Pursuant to the terms of the Settlement, the Defendants paid the Company $1,125,000 during the six months ended June 30, 2024. In exchange, the Company agreed to release all Defendants from the lawsuit and to deliver 11 containers of solar panels. Upon the receipt of the $1,125,000 and the delivery of the 11 containers, and pursuant to the Settlement, the Company recorded sales of $728,640, a credit of $125,000 to legal expense and for the three and six months ended June 30, 2024, recorded a gain on litigation settlement of $271,360.   There are no proceedings in which any of our directors, officers or affiliates, or any registered or beneficial shareholder, is an adverse party or has a material interest adverse to our interest.

STOCKHOLDERS’ EQUITY	6 Months Ended
	Jun. 30, 2024
Equity [Abstract]
STOCKHOLDERS’ EQUITY	NOTE 11 – STOCKHOLDERS’ EQUITY   Common stock   During the six months ended June 30, 2024, the Company issued 1,146,517,693 shares of common stock and received net proceeds of $932,277 after issuance costs of $31,577, as follows:   On January 8, 2024, the Company sold 85,134,032 shares to GHS at $0.00128 and received net proceeds of $105,767, after deducting transaction and broker fees of $3,204.   On January 25, 2024, the Company sold 61,383,661 shares to GHS at $0.00112 and received net proceeds of $66,350, after deducting transaction and broker fees of $2,400.   On February 12, 2024, the Company sold 60,722,962 shares to GHS at $0.00104 and received net proceeds of $60,864, after deducting transaction and broker fees of $2,288.   On February 28, 2024, the Company sold 62,124,323 shares to GHS at $0.00096 and received net proceeds of $57,422, after deducting transaction and broker fees of $2,218.   On March 14, 2024, the Company sold 70,938,750 shares to GHS at $0.00088 and received net proceeds of $60,152, after deducting transaction and broker fees of $2,274.     On April 2, 2024, the Company sold 85,671,625 shares to GHS at $0.0008 and received net proceeds of $66,142, after deducting transaction and broker fees of $2,396.   On April 17, 2024, the Company sold 92,097,313 shares to GHS at $0.00064 and received net proceeds of $56,738, after deducting transaction and broker fees of $2,204.   On May 3, 2024, the Company sold 120,517,054 shares to GHS at $0.00056 and received net proceeds of $65,114, after deducting transaction and broker fees of $2,374.   On May 20, 2024, the Company sold 271,390,910 shares to GHS at $0.00088 and received net proceeds of $233,023, after deducting transaction and broker fees of $5,801.   On June 10, 2024, the Company sold 196,731,306 shares to GHS at $0.00072 and received net proceeds of $136,764, after deducting transaction and broker fees of $4,883.   On June 27, 2024, the Company sold 39,805,757 shares to GHS at $0.00064 and received net proceeds of $23,941, after deducting transaction and broker fees of $1,535.   During the three months ended June 30, 2023, the Company issued 15,048,619 shares of common stock and received net proceeds of $71,827 after issuance costs of $3,558. During the six months ended June 30, 2023, the Company issued 122,805,402 shares of common stock and received net proceeds of $598,220 after issuance costs of $22,668.   The Company has 8,990,000,000 shares of $0.001 par value common stock authorized (effective July 22, 2024, see Note 1 and Note 16) and as of June 30, 2024, there are 6,628,031,093 shares of common stock issued and outstanding.   Preferred stock   As of June 30, 2024, 10,000,000 shares have been authorized as preferred stock, par value $0.001 (the “Preferred Stock”), which such Preferred Stock shall be issuable in such series, and with such designations, rights and preferences as the Board of Directors may determine from time to time.   Series C Preferred Stock   On July 7, 2020, the Company filed an Amended and Restated Certificate of Designation with the State of Nevada of the Company’s Series C Preferred Stock. Under the terms of the Amendment to Certificate of Designation of Series C Preferred Stock, 50,000 shares of the Company’s preferred remain designated as Series C Preferred Stock. The holders of Series C Preferred Stock have no conversion rights and no dividend rights. For so long as any shares of the Series C Preferred Stock remain issued and outstanding, the Holder thereof, voting separately as a class, shall have the right to vote on all shareholder matters equal to sixty-seven (67%) percent of the total vote. As of June 30, 2024, and December 31, 2023, there were 2,500 shares of Series C Preferred Stock issued and outstanding and the shares are held by Mr. Conway.   Series D Preferred Stock   On July 7, 2020, the Company filed a Certificate of Designation with the State of Nevada of the Company’s Series D Preferred Stock. On July 10, 2020, pursuant to the SPA with PCTI, the Company issued 18,667 shares of Series D preferred Stock to Chis, and on August 28, 2020, pursuant to Mr. Conway’s employment agreement, the Company issued 1,333 shares of Series D Preferred Stock to Mr. Conway. On July 13, 2021, the Company purchased 18,667 shares of the Company’s Series D Preferred Stock held by Chis.     On July 27, 2021, the Company filed with the Secretary of State of the State of Nevada an Amended and Restated Certificate of Designation of Series D Preferred Stock (the “Series D Amendment”). Under the terms of the Series D Amendment, 4,570 shares of the Company’s preferred stock will be designated as Series D Convertible Preferred Stock. The holders of the Series D Convertible Preferred Stock shall not be entitled to receive dividends. Any holder may, at any time convert any number of shares of Series D Convertible Preferred Stock held by such holder into a number of fully paid and nonassessable shares of common stock determined by multiplying the number of issued and outstanding shares of common stock of the Company on the date of conversion, by 1.5 and dividing that number by the number of authorized shares of Series D Convertible Preferred Stock and multiply that result by the number of shares of Series D Convertible Preferred Stock being converted. Except as provided in the Series D Amendment or as otherwise required by law, no holder of the Series D Convertible Preferred Stock shall be entitled to vote on any matter submitted to the shareholders of the Company for their vote, waiver, release or other action. The Series D Convertible Preferred Stock shall not bear any liquidation rights. On July 28, 2021, the Company closed on a Stock and Warrant Purchase Agreement (the “Series D SPA”). Pursuant to the terms of Series D SPA, an investor in exchange for $13,200,000 purchased one share of Series D Preferred Stock, and a warrant to acquire 3,236 shares of Series D Preferred Stock. As of June 30, 2024, and December 31, 2023, there were 1,334 shares, respectively, of Series D Preferred Stock issued and outstanding and a warrant to purchase 3,236 shares of Series D Preferred Stock are outstanding as of June 30, 2024, and December 31, 2023.   The warrant has a 15- year term and Partial Warrant Lock Up and Leak-Out Period. The Holder may only exercise the Warrant and purchase Warrant Shares as follows:     i. Up to 162 (one hundred and sixty-two) Warrant Shares, at any time or times on or after five (5) business days from the closing of the Series D SPA (“the Initial Exercise Date”) subject to up to a maximum number of Warrant Shares that, if converted, would be equal to no more than a maximum of 4.99% of the total number of outstanding shares of Common Stock of the Company and no later than on or before the 15th year anniversary of the Initial Exercise Date (“the Termination Date”); and         ii. The Remainder of the Warrant representing up to 3,074 (three thousand and seventy-four) Warrant Shares (“Remaining Warrant Shares”) shall be locked up for a period of 36 (thirty-six) months from the Initial Exercise Date (“Lock Up Period”) and shall become exercisable at any time or times from the date that is the 36 (thirty-six) month anniversary of the Initial Exercise Date (“Lock Up Period Termination Date”) and no later than on or before the Termination Date, as follows:     a. During every 1 (one) year period, starting on the day that is the Lock Up Period Termination Date, the Holder shall have the right to exercise the Remainder of the Warrant up to a maximum number of Remaining Warrant Shares that, if converted, would be equal to no more than a maximum of 4.99% of the total number of outstanding shares of Common Stock of the Company during such given year (“Leak-Out Period”). The Leak-Out Period shall come into effect on the day that is the Lock Up Period Termination Date and remain effective on a yearly basis, for a period of 10 (ten) years thereafter, after which the Leak-Out Period will automatically terminate and become null and void. For clarity purposes the Remainder of the Warrant shall become freely exercisable at any time or times beginning on June 29, 2034, and until the Termination Date.   Series E Preferred Stock   On July 7, 2020, the Company filed a Certificate of Designation with the State of Nevada of the Company’s Series E Preferred Stock. Under the terms of the Certificate of Designation of Series E Preferred Stock, 3,000 shares of the Company’s preferred stock have been designated as Series E Preferred Stock. The holders of the Series E Convertible Preferred Stock shall not be entitled to receive dividends. No holder of the Series E Preferred Stock shall be entitled to vote on any matter submitted to the shareholders of the Corporation for their vote, waiver, release or other action, except as may be otherwise expressly required by law. At any time, the Corporation may redeem for cash out of funds legally available therefor, any or all of the outstanding Preferred Stock (“Optional Redemption”) at $1,000 (one thousand dollars) per share. The shares of Series E Preferred Stock have not been registered under the Securities Act of 1933 or the laws of any state of the United States and may not be transferred without such registration or an exemption from registration. As of June 30, 2024, and December 31, 2023, there were -0- shares of Series E Preferred Stock issued and outstanding, respectively.

NONCONTROLLING INTEREST	6 Months Ended
	Jun. 30, 2024
Noncontrolling Interest [Abstract]
NONCONTROLLING INTEREST	NOTE 12 – NONCONTROLLING INTEREST   On August 19, 2021, the Company formed Ozop Capital. The Company initially owned 51% with PJN Holdings, LLC (“PJN”) owning 49%. Brian Conway was appointed as the sole officer and director of Ozop Capital and has voting control of Ozop Capital. The Company presents interest held by noncontrolling interest holders within noncontrolling interest in the unaudited consolidated financial statements. On September 13, 2022, there was a change in the ownership percentages, as PJN returned 490,000 shares, representing their 49% ownership. As of that date, Ozop Capital is a wholly owned subsidiary of the Company. As of June 30, 2024, and December 31, 2023, the accumulative noncontrolling interest is $784,777.

OPERATING LEASE RIGHT-OF-USE ASSETS AND OPERATING LEASE LIABILITIES	6 Months Ended
	Jun. 30, 2024
Operating Lease Right-of-use Assets And Operating Lease Liabilities
OPERATING LEASE RIGHT-OF-USE ASSETS AND OPERATING LEASE LIABILITIES	NOTE 13 - OPERATING LEASE RIGHT-OF-USE ASSETS AND OPERATING LEASE LIABILITIES   On April 14, 2021, the Company entered into a five-year lease which began on June 1, 2021, for approximately 8,100 square feet of office and warehouse space in Carlsbad, California, expiring May 31, 2026. Initial lease payments of $13,148 begin on June 1, 2021, and increase by approximately 2.4% annually thereafter. The interest rate used to determine the present value is our incremental borrowing rate, estimated to be 7.5%, as the interest rate implicit in most of our leases is not readily determinable. During the year ended December 31, 2021, upon adoption of ASC Topic 842, the Company recorded right-of-use assets and lease liabilities of $702,888 for this lease. On February 22, 2023, with an effective date of March 1, 2023, the Company entered into a Sublease for a Single Subleasee Agreement (the “Sublease”) with the landlord and a third party for the office and warehouse in Carlsbad California. Pursuant to the Sublease agreement, the third party will be responsible for all of the Company’s lease obligations through May 31, 2026, the lease termination date. The Company and the subleasee have agreed to work together regarding any existing Company inventory in the facility.   In adopting Topic 842, the Company has elected the ‘package of practical expedients’, which permit it not to reassess under the new standard its prior conclusions about lease identification, lease classification and initial direct costs. The Company did not elect the use-of-hindsight or the practical expedient pertaining to land easements; the latter is not applicable to the Company. In addition, the Company elected not to apply ASC Topic 842 to arrangements with lease terms of 12 months or less.   Right-of-use assets are summarized below:     June 30, 2024     December 31, 2023   Office and warehouse lease   $ 702,888     $ 702,888   Less: Accumulated amortization     (401,934 )     (330,437 ) Right-of-use assets, net   $ 300,954     $ 372,451     Operating lease liabilities are summarized as follows:     June 30, 2024     December 31, 2023   Lease liability   $ 312,608     $ 384,382   Less current portion     (155,688 )     (147,993 ) Long term portion   $ 156,920     $ 236,389     Maturity of lease liabilities are as follows:     Amount   For the year ending December 31, 2024 (remaining period)   $ 86,760   For the year ending December 31, 2025     175,942   For the year ending December 31, 2026     74,030   Total   $ 336,732   Less: present value discount     (24,124 ) Lease liability   $ 312,608     The Company recorded a credit of $306 and $277 to operating lease expense (after netting off the sublease income) for the three and six months ended June 30, 2024, and $681, and $29,382 for the three and six months ended June 30, 2023, respectively.

DISCONTINUED OPERATIONS	6 Months Ended
	Jun. 30, 2024
Discontinued Operations and Disposal Groups [Abstract]
DISCONTINUED OPERATIONS	NOTE 14 – DISCONTINUED OPERATIONS   On September 1, 2022, the BOD of the Company authorized the filing of a Chapter 7 proceeding which meets the definition of a discontinued operation. Accordingly, the operating results of PCTI are reported as income from discontinued operations in the accompanying unaudited consolidated financial statements for the three and six months ended June 30, 2024, and 2023. On October 3, 2022, PCTI filed a Voluntary Petition for Non- Individuals Filing for Bankruptcy. On November 30, 2022, the Trustee filed a Notice of Abandonment of Estate Property, as it is over encumbered by the secured creditors. No objections were filed, and as such the inventory and equipment is now considered abandoned to the secured creditors to do with what they wish. In March 2023, the Trustee declared this a no-asset case and closed the bankruptcy.   The results of operations of this component, for all periods, are separately reported as “discontinued operations”. A reconciliation of the major classes of line items constituting the income (loss) from discontinued operations, net of income taxes as is presented in the unaudited Consolidated Statements of Operations for the three and six months ended June 30, 2024, and 2023, are summarized below:       Three months ended June 30,     Six months ended June 30,       2024     2023     2024     2023   Revenues   $ -     $ 5,363     $ 3,573     $ 10,726   Cost of goods sold     -       -       -       -   Gross profit     -       5,363       3,573       10,726   Operating expenses     -       -       -       -   Interest expense     -       -       -       -   Income from discontinued operations   $ -     $ 5,363     $ 3,573     $ 10,726     There are no assets as of June 30, 2024, and December 31, 2023, as the secured lender has taken possession. Liabilities of discontinued operations are separately reported as of June 30, 2024, and December 31, 2023. All liabilities are classified as current. The following tables present the reconciliation of carrying amounts of the major classes of liabilities of the Company classified as discontinued operations in the consolidated balance sheets at June 30, 2024, and December 31, 2023:   Current liabilities       June 30, 2024     December 31, 2023   Accounts payable and accrued liabilities   $ 445,565     $ 445,565   Current portion of notes payable     589,246       589,246   Deferred revenues     -       3,573   Total current liabilities of discontinued operations   $ 1,034,811     $ 1,038,384     On May 16, 2022, Huntington National Bank (“Huntington”) filed a Complaint for Confession of Judgment (“COJ”) against Catherine Chis (“Chis”). Chis was the former CEO of PCTI and a Guarantor on Huntington’s Letter of Credit financing (“LOC”) and a Term Loan (“Term Loan”). The Chis COJ for the LOC was $352,415 and accrues per diem interest of $63.65, and the Chis COJ for the Term Loan was $141,415 and accrues per diem interest of $28.60. On June 24, 2022, Huntington filed a COJ against Power Conversion Technologies, Inc (“PCTI”). The PCTI COJ for the LOC was for $354,774 and accrues per diem interest of $63.65 and the PCTI COJ for the LOC was for $142,473 and accrues per diem interest of $28.60. On July 20, 2022, Huntington assigned the PCTI judgment against PCTI to Meraki Advisors, LLC. (“Meraki”). The Company’s understanding is Meraki is a Pennsylvania limited liability company, controlled by Chis.   Included in the Current portion of notes payable are the principal balances of Huntington’s LOC of $344,166 and Term Loan of $134,681. Accrued interest and fees on the LOC and Term Loan debt $54,256 is included in accounts payable and accrued liabilities.

INCOME TAXES	6 Months Ended
	Jun. 30, 2024
Income Tax Disclosure [Abstract]
INCOME TAXES	NOTE 15 - INCOME TAXES   The Company provides for income taxes under ASC 740, Accounting for Income Taxes. ASC 740 requires the use of an asset and liability approach in accounting for income taxes. Deferred tax assets and liabilities are recorded based on the differences between the financial statement and tax bases of assets and liabilities and the tax rates in effect when these differences are expected to reverse. ASC 740 requires the reduction of deferred tax assets by a valuation allowance if, based on the weight of available evidence, it is more likely- than not that some or all of the deferred tax assets will not be realized.   In assessing the need for a valuation allowance, management must determine that there will be sufficient taxable income to allow for the realization of deferred tax assets. Based upon the historical and anticipated future income, management has determined that the deferred tax assets do not meet the more-likely-than-not threshold for realizability. Accordingly, there is a full valuation allowance provided against the Company’s deferred tax assets as of June 30, 2024, and December 31, 2023.

SUBSEQUENT EVENTS	6 Months Ended
	Jun. 30, 2024
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 16 – SUBSEQUENT EVENTS   On June 4, 2024, the Board of Directors of the Company approved to amend the Company’s Articles of Incorporation (the “2024 Amendment”) to increase the authorized capital stock of the Company to 9,000,000,000 shares, of which 8,990,000,000 shall be authorized as common shares and 10,000,000 shall be authorized as preferred shares. The Company filed the 2024 Amendment with the State of Nevada on July 22, 2024.   On July 22, 2024, the Company filed a Registration statement for the sale of up to Two Billion (2,000,000,000) shares of the Company’s common stock to GHS, pursuant to the May 2, 2023, Financing Agreement and Registration Rights Agreement. The terms and conditions are similar to the terms and conditions of the January 26, 2024, registration statement.   The Company has evaluated subsequent events through the date the financial statements were issued. The Company has determined that there are no other such events that warrant disclosure or recognition in the financial statements, except as stated herein.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation   The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial statements and with the instructions to Form 10-Q and Article 8 of Regulation S-X of the SEC. Accordingly, they do not contain all information and footnotes required by accounting principles generally accepted in the United States of America for annual financial statements. In the opinion of the Company’s management, the accompanying unaudited consolidated financial statements contain all the adjustments necessary (consisting only of normal recurring accruals) to present the financial position of the Company as of June 30, 2024, and the results of operations and cash flows for the periods presented. The results of operations for the three and six months ended June 30, 2024, are not necessarily indicative of the operating results for the full fiscal year or any future period. These unaudited consolidated financial statements should be read in conjunction with the financial statements and related notes thereto included in the Company’s Current Report on Form 10-K filed on April 16, 2024.   The unaudited consolidated financial statements include the accounts of the Company and Ozop Energy Systems, Inc. and the Company’s other wholly owned subsidiaries Ozop Capital Partners, Inc., Ozop Engineering and Design, Inc., Automated Room Controls, Inc., Power Conversion Technologies, Inc. (“PCTI”), Ozop LLC, Ozop HK and Spinus, LLC (“Spinus”). All intercompany accounts and transactions have been eliminated in consolidation. The accompanying unaudited consolidated financial statements are prepared in accordance with Generally Accepted Accounting Principles in the United States of America (“US GAAP”).
Use of Estimates	Use of Estimates   The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amount of revenues and expenses during the reported period. Actual results could differ from those estimates.
Cash and Cash Equivalents	Cash and Cash Equivalents   The Company considers all highly liquid investments with an original term of three months or less to be cash equivalents. These investments are carried at cost, which approximates fair value. Cash and cash equivalent balances may, at certain times, exceed federally insured limits. The Company has no cash equivalents at June 30, 2024, and December 31, 2023.
Sales Concentration and credit risk	Sales Concentration and credit risk   Following is a summary of customers who accounted for more than ten percent (10%) of the Company’s revenues for the three and six months ended June 30, 2024, and 2023, and their accounts receivable balance as of June 30, 2024:        Sales % Three Months Ended June 30, 2024     Sales % Six Months Ended June 30, 2024     Sales % Three Months Ended June 30, 2023     Sales % Six Months Ended June 30, 2023     Accounts receivable balance June 30, 2024   Customer A     91.4 %     72.1 %      N/A       N/A     $ -   Customer B     N/A       18.9 %     N/A       N/A     $ 9,000   Customer C     N/A       N/A       84.4 %     93.1 %   $ -   Customer D     N/A       N/A       13.1 %     N/A     $ -
Accounts Receivable	Accounts Receivable   The Company records accounts receivable at the time products and services are delivered. An allowance for losses is established through a provision for losses charged to expenses. Receivables are charged against the allowance for losses when management believes collectability is unlikely. The allowance (if any) is an amount that management believes will be adequate to absorb estimated losses on existing receivables, based on evaluation of the collectability of the accounts and prior loss experience.
Inventory	Inventory   Inventories are valued at the lower of cost or net realizable value, with cost determined on the first-in, first-out basis. Inventory costs consist of finished goods. In evaluating the net realizable value of inventory, management also considers, if applicable, other factors, including known trends, market conditions, currency exchange rates and other such issues. Finished goods inventories as of June 30, 2024, and December 31, 2023, were $217,442 and $1,089,979, respectively. Based on current market conditions related to solar panels including but not limited to reduced selling prices in the industry and the abundance of inventory supply in the market, management determined that the net realizable value of certain of the Company’s inventory required a lower of cost or market adjustment of $1,495,978 to the historical cost of inventory purchases for the year ended December 31, 2023 (of which $625,000 was recorded as of June 30, 2023). There are no inventory markdowns for the three and six months ended June 30, 2024.
Purchase concentration	Purchase concentration   OES purchases finished renewable energy products from its suppliers. For the three and six months ended June 30, 2023, there was one supplier that accounted for 100%. For the three and six months ended June 30, 2024, the Company made no purchases.
Property, plant, and equipment	Property, plant, and equipment   Property and equipment are stated at cost, and depreciation is provided by use of a straight-line method over the estimated useful lives of the assets.   The Company reviews property and equipment for potential impairment whenever events or changes in circumstances indicate that the carrying amounts of assets may not be recoverable. The estimated useful lives of property and equipment is as follows:      Building 10-25 years   Office furniture and equipment 3-5 years   Warehouse equipment 7 years
Revenue Recognition	Revenue Recognition   The Company recognizes revenue in accordance with ASC 606, from the commercial sales of products or providing services by: (1) identify the contract (if any) with a customer; (2) identify the performance obligations in the contract (if any); (3) determine the transaction price; (4) allocate the transaction price to each performance obligation in the contract (if any); and (5) recognize revenue when each performance obligation is satisfied. The Company has no outstanding contracts with any of its’ customers. The Company recognizes revenue when title, ownership, and risk of loss pass to the customer, all of which occurs upon shipment or delivery of the product and is based on the applicable shipping terms for product sales or upon delivery of service to the customer for installation services. Any advance payments are recorded as current liability until revenue is recognized.   For product sales contracts with customers, ownership of the goods and associated revenue are transferred to customers at a point in time, generally upon shipment of a product to the customer or receipt of the product by the customer and without significant judgments. For the periods covered herein, we did not have post shipment obligations such as training or installation, customer acceptance provisions, credits and discounts, rebates and price protection, or other similar privileges.   For installation services contracts with customers, the Company invoices the customer upon completion of the job and recognizes revenue based on the invoiced amount.   The following table disaggregates our revenue by major source for the three and six months ended June 30, 2024, and 2023:        Three months ended June 30,     Six months ended June 30,       2024     2023     2024     2023   Sourced and distributed products   $ 879,552     $ 1,213,826     $ 954,774     $ 3,972,624   OED Installations     62,420       27,500       238,920       59,900   Total   $ 941,972     $ 1,241,326     $ 1,193,694     $ 4,032,524     Revenues from sourced and distributed products were previously purchased from suppliers as finished goods and were either in the Carlsbad warehouse or in a third-party warehouse.
Advertising and Marketing Expenses	Advertising and Marketing Expenses   The Company expenses advertising and marketing costs as incurred. For the three and six months ended June 30, 2024, the Company recorded advertising and marketing expenses of $12,878 and $28,549, respectively. For the three and six months ended June 30, 2023, the Company recorded advertising and marketing expenses of $13,398 and $31,170, respectively.
Convertible Instruments	Convertible Instruments   The Company evaluates and accounts for conversion options embedded in convertible instruments in accordance with ASC 815, Derivatives and Hedging Activities.   Applicable GAAP requires companies to bifurcate conversion options from their host instruments and account for them as free-standing derivative financial instruments according to certain criteria. The criteria include circumstances in which (a) the economic characteristics and risks of the embedded derivative instrument are not clearly and closely related to the economic characteristics and risks of the host contract, (b) the hybrid instrument that embodies both the embedded derivative instrument and the host contract is not re-measured at fair value under other GAAP with changes in fair value reported in earnings as they occur and (c) a separate instrument with the same terms as the embedded derivative instrument would be considered a derivative instrument.   The Company accounts for convertible instruments (when it has been determined that the embedded conversion options should not be bifurcated from their host instruments) as follows: The Company records, when necessary, discounts to convertible notes for the intrinsic value of conversion options embedded in debt instruments based upon the differences between the fair value of the underlying common stock at the commitment date of this note transaction and the effective conversion price embedded in this note. Debt discounts under these arrangements are amortized over the term of the related debt to their stated date of redemption.   The Company accounts for the conversion of convertible debt when a conversion option has been bifurcated using the general extinguishment standards. The debt and equity linked derivatives are removed at their carrying amounts and the shares issued are measured at their then-current fair value, with any difference recorded as a gain or loss on extinguishment of the two separate accounting liabilities.
Discontinued Operations	Discontinued Operations   In accordance with ASC 205-20 Presentation of Financial Statements: Discontinued Operations, a disposal of a component of an entity or a group of components of an entity is required to be reported as discontinued operations if the disposal represents a strategic shift that has (or will have) a major effect on an entity’s operations and financial results when the components of an entity meet the criteria in paragraph 205-20-45-10. In the period in which the component meets held-for-sale or discontinued operations criteria the major current assets, other assets, current liabilities, and noncurrent liabilities shall be reported as components of total assets and liabilities separate from those balances of the continuing operations. At the same time, the results of all discontinued operations, less applicable income taxes (benefit), shall be reported as components of net income (loss) separate from the net income (loss) of continuing operations.   On September 1, 2022, the BOD of the Company authorized the filing of a Chapter 7 proceeding which meets the definition of a discontinued operation. Accordingly, the operating results of PCTI are reported as income from discontinued operations in the accompanying unaudited consolidated financial statements for the three and six months ended June 30, 2024, and 2023. For additional information, see Note 14- Discontinued Operations.
Distinguishing Liabilities from Equity	Distinguishing Liabilities from Equity   The Company relies on the guidance provided by ASC Topic 480, Distinguishing Liabilities from Equity, to classify certain redeemable and/or convertible instruments. The Company first determines whether a financial instrument should be classified as a liability. The Company will determine the liability classification if the financial instrument is mandatorily redeemable, or if the financial instrument, other than outstanding shares, embodies a conditional obligation that the Company must or may settle by issuing a variable number of its equity shares.   Once the Company determines that a financial instrument should not be classified as a liability, the Company determines whether the financial instrument should be presented between the liability section and the equity section of the balance sheet (“temporary equity”). The Company will determine temporary equity classification if the redemption of the financial instrument is outside the control of the Company (i.e. at the option of the holder). Otherwise, the Company accounts for the financial instrument as permanent equity.     Our CEO and Chairman holds sufficient shares of the Company’s voting preferred stock that give sufficient voting rights under the articles of incorporation and bylaws of the Company such that the CEO and Chairman can at any time unilaterally vote to increase the number of authorized shares of common stock of the Company, without the need to call a general meeting of common shareholders of the Company.   Initial Measurement   The Company records its financial instruments classified as liability, temporary equity, or permanent equity at issuance at the fair value, or cash received.   Subsequent Measurement – Financial Instruments Classified as Liabilities   The Company records the fair value of its financial instruments classified as liabilities at each subsequent measurement date. The changes in the fair value of its financial instruments classified as liabilities are recorded as other income (expenses).
Fair Value of Financial Instruments	Fair Value of Financial Instruments   The Company measures assets and liabilities at fair value based on an expected exit price as defined by the authoritative guidance on fair value measurements, which represents the amount that would be received on the sale of an asset or paid to transfer a liability, as the case may be, in an orderly transaction between market participants. As such, fair value may be based on assumptions that market participants would use in pricing an asset or liability. The authoritative guidance on fair value measurements establishes a consistent framework for measuring fair value on either a recurring or nonrecurring basis whereby inputs, used in valuation techniques, are assigned a hierarchical level.   The following are the hierarchical levels of inputs to measure fair value:     ● Level 1 - Observable inputs that reflect quoted market prices in active markets for identical assets or liabilities.   ● Level 2 - Inputs reflect quoted prices for identical assets or liabilities in markets that are not active; quoted prices for similar assets or liabilities in active markets; inputs other than quoted prices that are observable for the assets or liabilities; or inputs that are derived principally from or corroborated by observable market data by correlation or other means.   ● Level 3 - Unobservable inputs reflecting the Company’s assumptions incorporated in valuation techniques used to determine fair value. These assumptions are required to be consistent with market participant assumptions that are reasonably available.   From time to time, certain of the Company’s embedded conversion features on debt and outstanding warrants have been treated as derivative liabilities for accounting purposes under ASC 815 due to insufficient authorized shares to fully settle conversion features of the instruments if exercised. In this case, the Company utilized the latest inception date sequencing method to reclassify outstanding instruments as derivative instruments. These contracts were recognized at fair value with changes in fair value recognized in earnings until such time as the conditions giving rise to such derivative liability classification were settled.   The carrying amounts of the Company’s financial assets and liabilities, such as cash, prepaid expenses, other current assets, accounts payable and accrued expenses and certain notes payable, approximate their fair values because of the short maturity of these instruments.     The following table represents the Company’s derivative instruments that are measured at fair value on a recurring basis as of June 30, 2024, and December 31, 2023, for each fair value hierarchy level:    June 30, 2024   Derivative Liabilities     Total   Level I   $ -     $ -   Level II   $ -     $ -   Level III   $ 570,497     $ 570,497     December 31, 2023   Derivative Liabilities     Total   Level I   $ -     $ -   Level II   $ -     $ -   Level III   $ 1,216,078     $ 1,216,078
Leases	Leases   The Company accounts for leases under ASU 2016-02 (see Note 13), applying the package of practical expedients to leases that commenced before the effective date whereby the Company elected to not reassess the following: (i) whether any expired or existing contracts contain leases; (ii) the lease classification for any expired or existing leases; and (iii) initial direct costs for any existing leases. For contracts entered into on or after the effective date, at the inception of a contract the Company assess whether the contract is, or contains, a lease. Our assessment is based on: (1) whether the contract involves the use of a distinct identified asset, (2) whether we obtain the right to substantially all the economic benefit from the use of the asset throughout the period, and (3) whether we have the right to direct the use of the asset. We allocate the consideration in the contract to each lease component based on its relative stand-alone price to determine the lease payments.   Operating lease ROU assets represent the right to use the leased asset for the lease term and operating lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at commencement date. As most leases do not provide an implicit rate, the Company used an incremental borrowing rate of 7.5% for the existing lease, based on the information available at the adoption date in determining the present value of future payments. Operating lease expense is recognized pursuant to on a straight-line basis over the lease term and is included in rent in the unaudited consolidated statements of operations.
Income Taxes	Income Taxes   Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance on deferred tax assets is established when management considers it is more likely than not that some portion or all of the deferred tax assets will not be realized.   Tax benefits from an uncertain tax position are only recognized if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position are measured based on the largest benefit that has a greater than fifty percent likelihood of being realized upon ultimate resolution. Interest and penalties related to unrecognized tax benefits are recorded as incurred as a component of income tax expense. The Company has not recognized any tax benefits from uncertain tax positions for any of the reporting periods presented.
Segment Policy	Segment Policy   The Company has no reportable segments as it operates in one segment: renewable energy.
Earnings (Loss) Per Share	Earnings (Loss) Per Share   The Company reports earnings (loss) per share in accordance with ASC 260, “Earnings per Share.” Basic earnings (loss) per share is computed by dividing net income (loss) by the weighted-average number of shares of common stock outstanding during each period. Diluted earnings per share is computed by dividing net income (loss) by the weighted-average number of shares of common stock, common stock equivalents and other potentially dilutive securities outstanding during the period. As of June 30, 2024, and 2023, the Company’s dilutive securities are convertible into approximately 11,700,915,235 and 8,508,178,172 shares of common stock respectively. The following table represents the classes of dilutive securities as of June 30, 2024, and 2023:        June 30, 2024     June 30, 2023   Convertible preferred stock (1)     9,942,046,640       7,341,121,127   Unexercised common stock purchase warrants (1)     807,024,518       1,047,024,518   Convertible notes payable (1)     89,035,858       11,023,739   Promissory notes payable (1)     862,808,219       109,008,788       11,700,915,235       8,508,178,172     (1) The potentially dilutive shares included in the above table are limited whereby the conversion or exercise cannot result in the beneficial owner holding more than 4.99% of the then outstanding shares of common stock subsequent to any conversion or exercise. These shares were excluded from the diluted per share calculation because the effect of including these potential shares was anti-dilutive due to the Company’s net loss position.
Recent Accounting Pronouncements	Recent Accounting Pronouncements   In August 2020, the FASB issued Accounting Standards Update (“ASU”) No. 2020-06, Debt - Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging —Contracts in Entity’ Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’ Own Equity (“ASU 2020-06”), which simplifies accounting for convertible instruments by removing major separation models required under current GAAP. The ASU also removes certain settlement conditions that are required for equity-linked contracts to qualify for the derivative scope exception, and it simplifies the diluted earnings per share calculation in certain areas. The Company does not believe the adoption of the ASU will have a material impact on the Company’s financial position, results of operations or cash flows.   Other than the above, there have been no recent accounting pronouncements or changes in accounting pronouncements during the period ended June 30, 2024, that are of significance or potential significance to the Company.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
SCHEDULES OF CONCENTRATION OF RISK, BY RISK FACTOR	Following is a summary of customers who accounted for more than ten percent (10%) of the Company’s revenues for the three and six months ended June 30, 2024, and 2023, and their accounts receivable balance as of June 30, 2024:        Sales % Three Months Ended June 30, 2024     Sales % Six Months Ended June 30, 2024     Sales % Three Months Ended June 30, 2023     Sales % Six Months Ended June 30, 2023     Accounts receivable balance June 30, 2024   Customer A     91.4 %     72.1 %      N/A       N/A     $ -   Customer B     N/A       18.9 %     N/A       N/A     $ 9,000   Customer C     N/A       N/A       84.4 %     93.1 %   $ -   Customer D     N/A       N/A       13.1 %     N/A     $ -
SCHEDULE OF USEFUL LIFE OF PROPERTY AND EQUIPMENT ASSETS	Building 10-25 years   Office furniture and equipment 3-5 years   Warehouse equipment 7 years
SCHEDULE OF DISAGGREGATION OF REVENUE	The following table disaggregates our revenue by major source for the three and six months ended June 30, 2024, and 2023:        Three months ended June 30,     Six months ended June 30,       2024     2023     2024     2023   Sourced and distributed products   $ 879,552     $ 1,213,826     $ 954,774     $ 3,972,624   OED Installations     62,420       27,500       238,920       59,900   Total   $ 941,972     $ 1,241,326     $ 1,193,694     $ 4,032,524
SCHEDULE OF DERIVATIVE INSTRUMENTS	The following table represents the Company’s derivative instruments that are measured at fair value on a recurring basis as of June 30, 2024, and December 31, 2023, for each fair value hierarchy level:    June 30, 2024   Derivative Liabilities     Total   Level I   $ -     $ -   Level II   $ -     $ -   Level III   $ 570,497     $ 570,497     December 31, 2023   Derivative Liabilities     Total   Level I   $ -     $ -   Level II   $ -     $ -   Level III   $ 1,216,078     $ 1,216,078
SCHEDULE OF ANTIDILUTIVE SECURITIES EXCLUDED FROM COMPUTATION OF EARNINGS PER SHARE	June 30, 2024     June 30, 2023   Convertible preferred stock (1)     9,942,046,640       7,341,121,127   Unexercised common stock purchase warrants (1)     807,024,518       1,047,024,518   Convertible notes payable (1)     89,035,858       11,023,739   Promissory notes payable (1)     862,808,219       109,008,788       11,700,915,235       8,508,178,172     (1) The potentially dilutive shares included in the above table are limited whereby the conversion or exercise cannot result in the beneficial owner holding more than 4.99% of the then outstanding shares of common stock subsequent to any conversion or exercise. These shares were excluded from the diluted per share calculation because the effect of including these potential shares was anti-dilutive due to the Company’s net loss position.

PROPERTY AND EQUIPMENT (Tables)	6 Months Ended
	Jun. 30, 2024
Property, Plant and Equipment [Abstract]
SCHEDULE OF PROPERTY AND EQUIPMENT	The following table summarizes the Company’s property and equipment:        June 30, 2024     December 31, 2023   Office equipment   $ 232,251     $ 224,733   Building and building improvements     600,000       600,000                     Less: Accumulated Depreciation     (242,503 )     (205,834 ) Property and Equipment, Net   $ 589,748     $ 618,899

DERIVATIVE LIABILITIES (Tables)	6 Months Ended
	Jun. 30, 2024
Derivative Liabilities
SCHEDULE OF DERIVATIVE LIABILITIES AT FAIR VALUE	A summary of the activity related to derivative liabilities for the six months ended June 30, 2024, is as follows:        Derivative liabilities associated with warrants     Derivative liabilities associated with convertible notes     Total derivative liabilities                       Balance January 1, 2024   $ 1,187,076     $ 29,002     $ 1,216,078   Change in fair value     (651,334 )     5,753       (645,581 ) Balance June 30, 2024   $ 535,742     $ 34,755     $ 570,497

NOTES PAYABLE (Tables)	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
SCHEDULE OF NOTES PAYABLE	The Company has the following notes payable outstanding:        June 30, 2024     December 31, 2023                 Note payable, interest at 8% or 20% (if default), matured January 5, 2020, currently in default   $ 45,000     $ 45,000   Other, due on demand, interest at 6%, currently in default     50,000       50,000   Note payable $750,000 face value, interest at 12% or 24% (if default), matured August 24, 2021, currently in default     375,000       375,000   Note payable $389,423 face value, interest at 15%, matures November 6, 2025, net of discount of $76,740 (2024) and $105,220 (2023)     312,683       284,203   Note payable $1,000,000 face value, interest at 12% or 24% (if default), matured November 13, 2021, currently in default     1,000,000       1,000,000   Note payable $2,200,000 face value, interest at 15%, matures October 31, 2024, net of discount of $56,667 (2024) and $141,667 (2023)     2,143,333       2,058,333   Note payable $11,110,000 face value, interest at 15%, matures October 31, 2024, net of discount of $283,333 (2024) and $708,333 (2023)     10,826,667       10,401,667   Note payable $3,300,000 face value, interest at 15%, matures October 31, 2024, net of discount of $85,000 (2024) and $212,500 (2023)     3,215,000       3,087,500   Note payable $3,020,000 face value, matured March 31, 2023, currently in default     1,820,000       1,820,000   Sub-total notes payable, net of discount     19,787,683       19,121,703   Less long-term portion, net of discount     312,683       284,203   Current portion of notes payable, net of discount   $ 19,475,000     $ 18,837,500

OPERATING LEASE RIGHT-OF-USE ASSETS AND OPERATING LEASE LIABILITIES (Tables)	6 Months Ended
	Jun. 30, 2024
Operating Lease Right-of-use Assets And Operating Lease Liabilities
SCHEDULE OF RIGHT-OF-USE ASSETS	Right-of-use assets are summarized below:     June 30, 2024     December 31, 2023   Office and warehouse lease   $ 702,888     $ 702,888   Less: Accumulated amortization     (401,934 )     (330,437 ) Right-of-use assets, net   $ 300,954     $ 372,451
SCHEDULE OF OPERATING LEASE LIABILITIES	Operating lease liabilities are summarized as follows:     June 30, 2024     December 31, 2023   Lease liability   $ 312,608     $ 384,382   Less current portion     (155,688 )     (147,993 ) Long term portion   $ 156,920     $ 236,389
SCHEDULE OF MATURITY OF LEASE LIABILITIES	Maturity of lease liabilities are as follows:     Amount   For the year ending December 31, 2024 (remaining period)   $ 86,760   For the year ending December 31, 2025     175,942   For the year ending December 31, 2026     74,030   Total   $ 336,732   Less: present value discount     (24,124 ) Lease liability   $ 312,608

DISCONTINUED OPERATIONS (Tables)	6 Months Ended
	Jun. 30, 2024
Discontinued Operations and Disposal Groups [Abstract]
SCHEDULE OF LOSS FROM DISCONTINUED OPERATIONS	Three months ended June 30,     Six months ended June 30,       2024     2023     2024     2023   Revenues   $ -     $ 5,363     $ 3,573     $ 10,726   Cost of goods sold     -       -       -       -   Gross profit     -       5,363       3,573       10,726   Operating expenses     -       -       -       -   Interest expense     -       -       -       -   Income from discontinued operations   $ -     $ 5,363     $ 3,573     $ 10,726         June 30, 2024     December 31, 2023   Accounts payable and accrued liabilities   $ 445,565     $ 445,565   Current portion of notes payable     589,246       589,246   Deferred revenues     -       3,573   Total current liabilities of discontinued operations   $ 1,034,811     $ 1,038,384

ORGANIZATION (Details Narrative) - shares	Jun. 30, 2024	Jun. 04, 2024	Dec. 31, 2023	May 05, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Capital stock, shares authorized		9,000,000,000		7,000,000,000
Common stock, shares authorized	8,990,000,000	8,990,000,000	8,990,000,000	6,990,000,000
Preferred stock, shares authorized	10,000,000	10,000,000	10,000,000	10,000,000

GOING CONCERN AND MANAGEMENT’S PLANS (Details Narrative) - USD ($)													3 Months Ended					6 Months Ended		12 Months Ended
	Jun. 27, 2024	Jun. 10, 2024	May 20, 2024	May 03, 2024	Apr. 17, 2024	Apr. 02, 2024	Mar. 14, 2024	Feb. 28, 2024	Feb. 12, 2024	Jan. 25, 2024	Jan. 08, 2024	May 02, 2023	Jun. 30, 2024	Apr. 26, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023	Apr. 30, 2021	Apr. 14, 2021
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Retained earnings accumulated deficit													$ 221,386,066					$ 221,386,066		$ 218,670,480
Working capital deficit													28,736,003					28,736,003
Derivative liabilities current													570,497					570,497		1,216,078
Debt instrument default amount													3,315,000					3,315,000
Shares issued value													581,722		$ 350,555	$ 71,827	$ 526,393
Proceeds from sale of common stock, net of costs																		$ 932,277	$ 598,220	48,000
Lease term																					5 years	5 years
Common Stock [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Shares issued value													$ 806,214		$ 340,304	$ 15,049	$ 107,757
Number of shares issued													806,213,965		340,303,728	15,048,619	107,756,783	1,146,517,693	122,805,402
Sale of common stock																		146,517,693
Proceeds from sale of common stock, net of costs																$ 71,827		$ 932,277	$ 598,220
Financing And Registration Rights Agreement [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Debt fund issued												$ 10,000,000
Equity financing agreement description												The maximum amount that the Company shall be entitled to put to GHS in each put notice will not exceed two hundred fifty percent (250%) of the average of the daily trading dollar volume of the Company’s common stock during the ten (10) trading days preceding the put, so long as such amount does not exceed 4.99% of the outstanding shares of the Company. Pursuant to the Financing Agreement, GHS and its affiliates will not be permitted to purchase, and the Company may not put shares of the Company’s common stock to GHS that would result in GHS’s beneficial ownership equaling more than 4.99% of the Company’s outstanding common stock. The price of each put share shall be equal to eighty percent (80%) of the lowest daily volume weighted average price of the Company’s common stock for the ten (10) consecutive trading days preceding the date on which the applicable put is delivered to GHS. No put will be made in an amount equaling less than $10,000 or greater than $750,000. Puts may be delivered by the Company to GHS until the earlier of twenty-four (24) months after the effectiveness of the registration statement on Form S-1 or the date on which GHS has purchased an aggregate of $10,000,000 worth of put shares.
Shares issued value												$ 10,000,000						$ 760,160		$ 1,230,043
Number of shares issued																		1,000,000,000		587,432,649
Financing And Registration Rights Agreement [Member] | Common Stock [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Sale of common stock	39,805,757	196,731,306	271,390,910	120,517,054	92,097,313	85,671,625	70,938,750	62,124,323	60,722,962	61,383,661	85,134,032
Proceeds from sale of common stock, net of costs	$ 23,941	$ 136,764	$ 233,023	$ 65,114	$ 56,738	$ 66,142	$ 60,152	$ 57,422	$ 60,864	$ 66,350	$ 105,767							$ 172,117
1st GHS Purchase Agreement [Member] | Common Stock [Member] | GHS Investments LLC [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Number of shares issued														1,000,000,000

SCHEDULES OF CONCENTRATION OF RISK, BY RISK FACTOR (Details) - Customer Concentration Risk [Member] - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Customer A [Member] | Revenue Benchmark [Member]
Product Information [Line Items]
Sales concentration and credit risk	91.40%		72.10%
Customer A [Member] | Accounts Receivable [Member]
Product Information [Line Items]
Accounts receivable
Customer B [Member] | Revenue Benchmark [Member]
Product Information [Line Items]
Sales concentration and credit risk			18.90%
Customer B [Member] | Accounts Receivable [Member]
Product Information [Line Items]
Accounts receivable	9,000		$ 9,000
Customer C [Member] | Revenue Benchmark [Member]
Product Information [Line Items]
Sales concentration and credit risk		84.40%		93.10%
Customer C [Member] | Accounts Receivable [Member]
Product Information [Line Items]
Accounts receivable
Customer D [Member] | Revenue Benchmark [Member]
Product Information [Line Items]
Sales concentration and credit risk		13.10%
Customer D [Member] | Accounts Receivable [Member]
Product Information [Line Items]
Accounts receivable

SCHEDULE OF USEFUL LIFE OF PROPERTY AND EQUIPMENT ASSETS (Details)	Jun. 30, 2024
Warehouse Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	7 years
Minimum [Member] | Building and Building Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	10 years
Minimum [Member] | Office Furniture And Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	3 years
Maximum [Member] | Building and Building Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	25 years
Maximum [Member] | Office Furniture And Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	5 years

SCHEDULE OF DISAGGREGATION OF REVENUE (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Product Information [Line Items]
Total	$ 941,972	$ 1,241,326	$ 1,193,694	$ 4,032,524
Sourced And Distributed Products [Member]
Product Information [Line Items]
Total	879,552	1,213,826	954,774	3,972,624
OED Installations [Member]
Product Information [Line Items]
Total	$ 62,420	$ 27,500	$ 238,920	$ 59,900

SCHEDULE OF DERIVATIVE INSTRUMENTS (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Fair Value, Inputs, Level 1 [Member]
Platform Operator, Crypto Asset [Line Items]
Derivative Liabilities
Total
Fair Value, Inputs, Level 2 [Member]
Platform Operator, Crypto Asset [Line Items]
Derivative Liabilities
Total
Fair Value, Inputs, Level 3 [Member]
Platform Operator, Crypto Asset [Line Items]
Derivative Liabilities	570,497	1,216,078
Total	$ 570,497	$ 1,216,078

SCHEDULE OF ANTIDILUTIVE SECURITIES EXCLUDED FROM COMPUTATION OF EARNINGS PER SHARE (Details) - shares		6 Months Ended
		Jun. 30, 2024	Jun. 30, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total		11,700,915,235	8,508,178,172
Convertible Preferred Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	[1]	9,942,046,640	7,341,121,127
Unexercised Common Stock Purchase Warrants [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	[1]	807,024,518	1,047,024,518
Convertible Notes Payable [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	[1]	89,035,858	11,023,739
Promissory Note Payable [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	[1]	862,808,219	109,008,788
[1] The potentially dilutive shares included in the above table are limited whereby the conversion or exercise cannot result in the beneficial owner holding more than 4.99% of the then outstanding shares of common stock subsequent to any conversion or exercise. These shares were excluded from the diluted per share calculation because the effect of including these potential shares was anti-dilutive due to the Company’s net loss position.

SCHEDULE OF ANTIDILUTIVE SECURITIES EXCLUDED FROM COMPUTATION OF EARNINGS PER SHARE (Details) (Parenthetical)	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Outstanding shares, percentage	4.99%

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Product Information [Line Items]
Inventory finished goods	$ 217,442		$ 217,442		$ 1,089,979
Market adjustment	625,000		625,000		$ 1,495,978
Inventory markdown				$ 625,000
Advertising and marketing expenses	$ 12,878	$ 13,398	$ 28,549	$ 31,170
Incremental borrowing percentage			7.50%
Dilutive securities common stock, shares			11,700,915,235	8,508,178,172
Accounts Payable [Member] | Supplier Concentration Risk [Member] | One Supplier [Member]
Product Information [Line Items]
Concentration of credit risk		100.00%		100.00%

SCHEDULE OF PROPERTY AND EQUIPMENT (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Less: Accumulated Depreciation	$ (242,503)	$ (205,834)
Property and Equipment, Net	589,748	618,899
Office Equipment [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment, gross	232,251	224,733
Building and Building Improvements [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment, gross	$ 600,000	$ 600,000

PROPERTY AND EQUIPMENT (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Property, Plant and Equipment [Abstract]
Depreciation expenses	$ 19,213	$ 22,994	$ 36,669	$ 46,016

CONVERTIBLE NOTES PAYABLE (Details Narrative) - 15% Convertible Note [Member] - USD ($)	Jun. 10, 2020	Jun. 30, 2024	Dec. 31, 2023
Short-Term Debt [Line Items]
Debt interest rate	15.00%
Convertible notes outstanding balance		$ 25,000	$ 25,000

SCHEDULE OF DERIVATIVE LIABILITIES AT FAIR VALUE (Details)	6 Months Ended
	Jun. 30, 2024 USD ($)
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items]
Derivative liability, beginning balance	$ 1,216,078
Change in fair value	(645,581)
Derivative liability, ending balance	570,497
Derivative Liabilities Associated With Warrants [Member]
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items]
Derivative liability, beginning balance	1,187,076
Change in fair value	(651,334)
Derivative liability, ending balance	535,742
Derivative Liabilities Associated With Convertible Notes [Member]
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items]
Derivative liability, beginning balance	29,002
Change in fair value	5,753
Derivative liability, ending balance	$ 34,755

DERIVATIVE LIABILITIES (Details Narrative)	Jun. 30, 2024 USD ($) $ / shares	Dec. 31, 2023 USD ($) $ / shares
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative liabilities | $	$ 570,497	$ 1,216,078
Measurement Input, Risk Free Interest Rate [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Expected volatility	5.33	5.26
Measurement Input, Risk Free Interest Rate [Member] | Minimum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrant measurement input	4.63	4.03
Measurement Input, Risk Free Interest Rate [Member] | Maximum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrant measurement input	5.33	5.26
Measurement Input, Price Volatility [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Expected volatility	113	48
Measurement Input Price Volatility One [Member] | Minimum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrant measurement input	113	48
Measurement Input Price Volatility One [Member] | Maximum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrant measurement input	134	99
Measurement Input, Exercise Price [Member] | Minimum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrant measurement input	0.0019	0.0019
Measurement Input, Exercise Price [Member] | Maximum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrant measurement input	0.039	0.15

SCHEDULE OF NOTES PAYABLE (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Short-Term Debt [Line Items]
Sub-total notes payable, net of discount	$ 19,787,683	$ 19,121,703
Less long-term portion, net of discount	312,683	284,203
Current portion of notes payable, net of discount	19,475,000	18,837,500
Note Payable [Member]
Short-Term Debt [Line Items]
Sub-total notes payable, net of discount	45,000	45,000
Other [Member]
Short-Term Debt [Line Items]
Sub-total notes payable, net of discount	50,000	50,000
Note Payable One [Member]
Short-Term Debt [Line Items]
Sub-total notes payable, net of discount	375,000	375,000
Note Payable Two [Member]
Short-Term Debt [Line Items]
Sub-total notes payable, net of discount	312,683	284,203
Note Payable Three [Member]
Short-Term Debt [Line Items]
Sub-total notes payable, net of discount	1,000,000	1,000,000
Note Payable Four [Member]
Short-Term Debt [Line Items]
Sub-total notes payable, net of discount	2,143,333	2,058,333
Note Payable Five [Member]
Short-Term Debt [Line Items]
Sub-total notes payable, net of discount	10,826,667	10,401,667
Note Payable Six [Member]
Short-Term Debt [Line Items]
Sub-total notes payable, net of discount	3,215,000	3,087,500
Note Payable Seven [Member]
Short-Term Debt [Line Items]
Sub-total notes payable, net of discount	$ 1,820,000	$ 1,820,000

SCHEDULE OF NOTES PAYABLE (Details) (Parenthetical) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Note Payable [Member]
Short-Term Debt [Line Items]
Maturity date	Jan. 05, 2020	Jan. 05, 2020
Note Payable [Member] | Minimum [Member]
Short-Term Debt [Line Items]
Interest rate	8.00%	8.00%
Note Payable [Member] | Maximum [Member]
Short-Term Debt [Line Items]
Interest rate	20.00%	20.00%
Other [Member]
Short-Term Debt [Line Items]
Interest rate	6.00%	6.00%
Note Payable One [Member]
Short-Term Debt [Line Items]
Maturity date	Aug. 24, 2021	Aug. 24, 2021
Face value	$ 750,000	$ 750,000
Note Payable One [Member] | Minimum [Member]
Short-Term Debt [Line Items]
Interest rate	12.00%	12.00%
Note Payable One [Member] | Maximum [Member]
Short-Term Debt [Line Items]
Interest rate	24.00%	24.00%
Note Payable Two [Member]
Short-Term Debt [Line Items]
Interest rate	15.00%	15.00%
Maturity date	Nov. 06, 2025	Nov. 06, 2025
Face value	$ 389,423	$ 389,423
Discount amount	$ 76,740	$ 105,220
Note Payable Three [Member]
Short-Term Debt [Line Items]
Maturity date	Nov. 13, 2021	Nov. 13, 2021
Face value	$ 1,000,000	$ 1,000,000
Note Payable Three [Member] | Minimum [Member]
Short-Term Debt [Line Items]
Interest rate	12.00%	12.00%
Note Payable Three [Member] | Maximum [Member]
Short-Term Debt [Line Items]
Interest rate	24.00%	24.00%
Note Payable Four [Member]
Short-Term Debt [Line Items]
Interest rate	15.00%	15.00%
Maturity date	Oct. 31, 2024	Oct. 31, 2024
Face value	$ 2,200,000	$ 2,200,000
Discount amount	$ 56,667	$ 141,667
Note Payable Five [Member]
Short-Term Debt [Line Items]
Interest rate	15.00%	15.00%
Maturity date	Oct. 31, 2024	Oct. 31, 2024
Face value	$ 11,110,000	$ 11,110,000
Discount amount	$ 283,333	$ 708,333
Note Payable Six [Member]
Short-Term Debt [Line Items]
Interest rate	15.00%	15.00%
Maturity date	Oct. 31, 2024	Oct. 31, 2024
Face value	$ 3,300,000	$ 3,300,000
Discount amount	$ 85,000	$ 212,500
Note Payable Seven [Member]
Short-Term Debt [Line Items]
Maturity date	Mar. 31, 2023	Mar. 31, 2023
Face value	$ 3,020,000	$ 3,020,000

NOTES PAYABLE (Details Narrative) - USD ($)																3 Months Ended		6 Months Ended
	Nov. 06, 2023	Nov. 11, 2022	Oct. 31, 2022	Dec. 13, 2021	Dec. 07, 2021	Mar. 23, 2021	Mar. 17, 2021	Feb. 16, 2021	Feb. 09, 2021	Nov. 20, 2020	Nov. 13, 2020	Nov. 06, 2020	Aug. 25, 2020	Aug. 24, 2020	Jun. 23, 2020	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023	Mar. 31, 2023	Dec. 31, 2022
Short-Term Debt [Line Items]
Accounts and accrued expenses																$ 9,488,053		$ 9,488,053		$ 8,026,784
Principal balance outstanding amount																$ 19,787,683		$ 19,787,683		19,121,703
Warrants and Rights Outstanding, Term																15 years		15 years
Holder [Member]
Short-Term Debt [Line Items]
Number of warrants to purchase											125,000,000
Warrant exercise price											$ 0.008
Stock issued during period, shares											2			2
Warrants and Rights Outstanding, Term											5 years	5 years
Promissory Note [Member]
Short-Term Debt [Line Items]
Principal balance outstanding amount																$ 375,000		$ 375,000		375,000
Description of default note																		This note is in default and the interest rate from the date of default is the lesser of 24% or the highest amount permitted by law.
Interest Payable																315,247		$ 315,247		270,247
Promissory Note [Member] | Lender [Member]
Short-Term Debt [Line Items]
Debt instrument, face amount						$ 11,110,000	$ 11,110,000
Debt instrument, maturity date							Mar. 17, 2022
Debt Instrument, unamortized discount						1,000,000										283,333		283,333		708,333
Proceeds from notes payable						10,000,000
Principal balance outstanding amount																11,110,000		11,110,000		11,110,000
Debt instrument, interest rate, stated percentage			15.00%				12.00%
Number of warrants to purchase			250,000,000
Warrant exercise price			$ 0.0067
Debt Instrument, carrying amount																10,826,667		10,826,667		10,401,667
Lender costs						$ 110,000
Warrant expiry date			Oct. 31, 2025
Promissory Note [Member] | Lender [Member] | March 31 2023 [Member]
Short-Term Debt [Line Items]
Debt instrument, face amount		$ 3,020,000
Debt instrument, maturity date		Mar. 31, 2023
Debt Instrument, unamortized discount		$ 250,000																		950,000	$ 250,000	$ 250,000
Accounts and accrued expenses		260,000
Proceeds from notes payable		$ 2,510,000
Original issue discount, amortized																			$ 181,818
Repayments of debt																		1,200,000	550,000
Principal balance outstanding amount																1,820,000		1,820,000		1,820,000
Promissory Note [Member] | Lender [Member] | December 7, 2022 [Member]
Short-Term Debt [Line Items]
Debt instrument, face amount					$ 3,300,000
Debt instrument, maturity date					Dec. 07, 2022
Debt Instrument, unamortized discount					$ 300,000											85,000		85,000		212,500
Proceeds from notes payable				$ 3,000,000
Principal balance outstanding amount																3,300,000		3,300,000		3,300,000
Debt instrument, interest rate, stated percentage			15.00%		12.00%
Number of warrants to purchase			75,000,000
Warrant exercise price			$ 0.0067
Value of warrants			$ 510,000
Interest expense																63,750	$ 127,500	63,750	127,500
Debt Instrument, carrying amount																3,215,000		3,215,000		3,087,500
Promissory Note [Member] | Lender [Member] | March 17 2022 [Member]
Short-Term Debt [Line Items]
Value of warrants			1,700,000
Interest expense																212,500	425,000	212,500	425,000
Promissory Note [Member] | Lender [Member] | February 9 2021 [Member]
Short-Term Debt [Line Items]
Value of warrants			$ 340,000
Interest expense																42,500	$ 85,000	42,500	$ 85,000
Promissory Note [Member] | Holder [Member]
Short-Term Debt [Line Items]
Debt instrument, face amount											$ 1,000,000	$ 389,423		$ 750,000	$ 210,000
Debt instrument, maturity date	Nov. 06, 2025										Nov. 13, 2021	Nov. 06, 2023		Aug. 24, 2021
Debt Instrument, unamortized discount																76,740		76,740		105,220
Proceeds from notes payable										$ 890,000			$ 663,000
Principal balance outstanding amount												$ 120,000				389,423		389,423		389,423
Debt instrument, interest rate, stated percentage	15.00%										12.00%	12.00%		12.00%
Number of warrants to purchase	60,000,000											60,000,000		122,950,819
Warrant exercise price	$ 0.0019											$ 0.0075		$ 0.0061
Value of warrants	$ 113,921
Interest expense																14,240		28,480
Debt Instrument, carrying amount																312,683		$ 312,683		284,203
Debt instrument, description											Principal payments shall be made in six instalments of $166,667 commencing 180 days from the issue date and continuing each 30 days thereafter for 5 months and the final payment of principal and interest due on the maturity date.			Principal payments shall be made in six instalments of $125,000 commencing 180 days from the Issue Date and continuing each 30 days thereafter for 5 months and the final payment of principal and interest due on the Maturity Date.
Legal fees										$ 110,000			$ 87,000
Description of default note																		This note is in default and the interest rate from the date of default is the lesser of 24% or the highest amount permitted by law.
Interest Payable																735,452		$ 735,452		615,452
Debt instrument, increase, accrued interest												$ 8,716			$ 15,707
Promissory Note One [Member] | Lender [Member]
Short-Term Debt [Line Items]
Debt instrument, face amount								$ 2,200,000	$ 2,200,000
Debt instrument, maturity date									Feb. 09, 2022
Debt Instrument, unamortized discount								200,000
Proceeds from notes payable								$ 2,000,000
Debt instrument, interest rate, stated percentage									12.00%
Promissory Note One [Member] | Holder [Member]
Short-Term Debt [Line Items]
Principal balance outstanding amount																1,000,000		1,000,000		1,000,000
Promissory Note Two [Member] | Lender [Member]
Short-Term Debt [Line Items]
Debt Instrument, unamortized discount																56,667		56,667		141,667
Principal balance outstanding amount																2,200,000		2,200,000		2,200,000
Debt instrument, interest rate, stated percentage			15.00%
Number of warrants to purchase			50,000,000
Warrant exercise price			$ 0.0067
Debt Instrument, carrying amount																$ 2,143,333		$ 2,143,333		$ 2,058,333

DEFERRED LIABILITY (Details Narrative) - USD ($)	Nov. 11, 2022	Feb. 26, 2021	Sep. 02, 2020	Jun. 30, 2024	Dec. 31, 2023
Deferred liability				$ 496,075	$ 490,495
Decrease in deferred liability	$ 260,000
Promissory Note [Member]
Decrease in deferred liability	$ 260,000
Vehicle Service Contracts [Member]
Deferred liability				$ 6,075	$ 495
Power Conversion Technologies Inc [Member] | Exchange Agreement [Member]
Deferred liability			$ 750,000
Product liability contingency, third-Party recovery, percentage			3.00%
Number of shares exchanged		175,000,000
Royalty percentage		1.80%

RELATED PARTY TRANSACTIONS (Details Narrative) - Mr Conway [Member] - Employment Agreement [Member] - USD ($)			1 Months Ended	3 Months Ended		6 Months Ended
	Jan. 01, 2022	Jul. 10, 2020	Jan. 31, 2022	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Related Party Transaction [Line Items]
Compensation value		$ 20,000	$ 20,000
Amount of initial annual compensation	$ 240,000
Related party expenses				$ 240,000	$ 240,000	$ 480,000	$ 480,000

COMMITMENTS AND CONTINGENCIES (Details Narrative) - USD ($)				3 Months Ended		6 Months Ended		12 Months Ended
	Sep. 01, 2021	Feb. 26, 2021	Sep. 02, 2020	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2024	Dec. 31, 2023	Mar. 04, 2019
Loss Contingencies [Line Items]
Issuance of common stock shares				637,755		637,755			637,755
Issuance of common stock						$ 932,277	$ 598,220		$ 48,000
Gain on litigation settlement				$ 271,360		271,360
Accounts Payable and Accrued Liabilities [Member]
Loss Contingencies [Line Items]
Amount due as per agreement				243,272		243,272			243,272
RMA Agreement [Member]
Loss Contingencies [Line Items]
Reduced fee	$ 100,000					96,000			48,000
Agreed amount to pay for the services	50,000
Number of restricted stock issued, value	$ 50,000
RMA Agreement [Member] | Subsequent Event [Member]
Loss Contingencies [Line Items]
Reduced fee								$ 48,000
Seperation Agreement [Member] | Salman J. Chaudhry [Member] | Related Party [Member]
Loss Contingencies [Line Items]
Due to officers or stockholders, current				162,085		162,085			$ 162,085	$ 227,200
Agreement With Third Party [Member] | PCTI [Member]
Loss Contingencies [Line Items]
Professional fees			$ 750,000
Collaborative arrangement, rights and obligations			PCTI agreed to pay the third-party a perpetual three percent (3%) payment of revenues, as defined in the agreement.
Amended Agreement With Third Party [Member] | PCTI [Member]
Loss Contingencies [Line Items]
Number of common stock exchanged		175,000,000
Royalty percentage		1.80%
Settlement Agreement [Member]
Loss Contingencies [Line Items]
Loss contingency accrual payments						1,125,000
Sales				728,640		728,640
Legal expense				125,000		125,000
Gain on litigation settlement				$ 271,360		271,360
Settlement Agreement [Member] | WIthin Two Days [Member]
Loss Contingencies [Line Items]
Loss contingency accrual payments						$ 1,125,000

STOCKHOLDERS’ EQUITY (Details Narrative) - USD ($)																	3 Months Ended				6 Months Ended		12 Months Ended
	Jun. 27, 2024	Jun. 10, 2024	May 20, 2024	May 03, 2024	Apr. 17, 2024	Apr. 02, 2024	Mar. 14, 2024	Feb. 28, 2024	Feb. 12, 2024	Jan. 25, 2024	Jan. 08, 2024	Jul. 28, 2021	Jul. 13, 2021	Aug. 28, 2020	Jul. 10, 2020	Jul. 07, 2020	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023	Jun. 04, 2024	May 05, 2023	Jul. 27, 2021
Accumulated Other Comprehensive Income (Loss) [Line Items]
Issuance of common stock																					$ 932,277	$ 598,220	$ 48,000
Stock issuance cost																	$ 19,193	$ 12,384	$ 3,558	$ 19,110
Common stock shares authorized																	8,990,000,000				8,990,000,000		8,990,000,000	8,990,000,000	6,990,000,000
Common stock, par value																	$ 0.001				$ 0.001		$ 0.001
Common stock, shares issued																	6,628,031,093				6,628,031,093		5,481,513,400
Common stock, shares outstanding																	6,628,031,093				6,628,031,093		5,481,513,400
Preferred stock, shares authorized																	10,000,000				10,000,000		10,000,000	10,000,000	10,000,000
Preferred stock, par value																	$ 0.001				$ 0.001		$ 0.001
Warrant term																	15 years				15 years
Warrant [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Warrant exercise																					162
Warrant exercise, description																					During every 1 (one) year period, starting on the day that is the Lock Up Period Termination Date, the Holder shall have the right to exercise the Remainder of the Warrant up to a maximum number of Remaining Warrant Shares that, if converted, would be equal to no more than a maximum of 4.99% of the total number of outstanding shares of Common Stock of the Company during such given year (“Leak-Out Period”). The Leak-Out Period shall come into effect on the day that is the Lock Up Period Termination Date and remain effective on a yearly basis, for a period of 10 (ten) years thereafter, after which the Leak-Out Period will automatically terminate and become null and void. For clarity purposes the Remainder of the Warrant shall become freely exercisable at any time or times beginning on June 29, 2034, and until the Termination Date.
Remaining Warrant Shares [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Lock up of warrants																	3,074				3,074
Lock up period of warrants																					36 months
Series C Preferred Stock [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Preferred stock, shares authorized																	50,000				50,000		50,000
Preferred stock, par value																	$ 0.001				$ 0.001		$ 0.001
Preferred stock shares issued																	2,500				2,500		2,500
Preferred stock shares outstanding																	2,500				2,500		2,500
Series D Preferred Stock [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Preferred stock, shares authorized																	4,570				4,570		4,570
Preferred stock, par value																	$ 0.001				$ 0.001		$ 0.001
Preferred stock shares issued																	1,334				1,334		1,334
Preferred stock shares outstanding																	1,334				1,334		1,334
Purchase of warrants																	3,236				3,236		3,236
Series D Preferred Stock [Member] | Mr Conway [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Issuance of shares of common stock sold, net of issuance costs, shares														1,333
Series D Preferred Stock [Member] | Chis [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Number of purchased shares													18,667
Series E Preferred Stock [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Preferred stock, shares authorized																	3,000				3,000		3,000
Preferred stock, par value																	$ 0.001				$ 0.001		$ 0.001
Preferred stock shares issued																	0				0		0
Preferred stock shares outstanding																	0				0		0
Financing And Registration Rights Agreement [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Issuance of shares of common stock sold, net of issuance costs, shares																					1,000,000,000		587,432,649
Amendment Certificates Of Designation [Member] | Series C Preferred Stock [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Preferred stock, shares authorized																50,000
Preferred stock, voting rights																The holders of Series C Preferred Stock have no conversion rights and no dividend rights. For so long as any shares of the Series C Preferred Stock remain issued and outstanding, the Holder thereof, voting separately as a class, shall have the right to vote on all shareholder matters equal to sixty-seven (67%) percent of the total vote.
Securities Purchase Agreement [Member] | Series D Preferred Stock [Member] | PCTI [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Issuance of shares of common stock sold, net of issuance costs, shares															18,667
Series D Amendment [Member] | Series D Preferred Stock [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Preferred stock, shares authorized																										4,570
Series DSPA [Member] | Series D Preferred Stock [Member] | Investor [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Proceeds from issuance of preferred stock and preference stock												$ 13,200,000
Purchase of warrants												3,236
Certificates of Designation [Member] | Series E Preferred Stock [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Preferred stock, shares authorized																3,000
Preferred stock, redemption amount																$ 1,000
Common Stock [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Issuance of shares of common stock sold, net of issuance costs, shares																	806,213,965	340,303,728	15,048,619	107,756,783	1,146,517,693	122,805,402
Issuance of common stock																			$ 71,827		$ 932,277	$ 598,220
Stock issuance cost																			$ 3,558		$ 31,577	$ 22,668
Sold shares during transaction																					146,517,693
Common Stock [Member] | Financing And Registration Rights Agreement [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Issuance of common stock	$ 23,941	$ 136,764	$ 233,023	$ 65,114	$ 56,738	$ 66,142	$ 60,152	$ 57,422	$ 60,864	$ 66,350	$ 105,767										$ 172,117
Sold shares during transaction	39,805,757	196,731,306	271,390,910	120,517,054	92,097,313	85,671,625	70,938,750	62,124,323	60,722,962	61,383,661	85,134,032
Sold shares during transaction per share	$ 0.00064	$ 0.00072	$ 0.00088	$ 0.00056	$ 0.00064	$ 0.0008	$ 0.00088	$ 0.00096	$ 0.00104	$ 0.00112	$ 0.00128
Broker fees	$ 1,535	$ 4,883	$ 5,801	$ 2,374	$ 2,204	$ 2,396	$ 2,274	$ 2,218	$ 2,288	$ 2,400	$ 3,204

NONCONTROLLING INTEREST (Details Narrative) - USD ($)	Sep. 13, 2022	Dec. 31, 2023	Aug. 19, 2021
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Accumulative noncontrolling interest		$ 784,777
Brian Conway [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Subsidiary, Ownership Percentage, Parent			51.00%
PJN Strategies [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Subsidiary, Ownership Percentage, Parent	49.00%		49.00%
Stock Repurchased and Retired During Period, Shares	490,000

SCHEDULE OF RIGHT-OF-USE ASSETS (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Operating Lease Right-of-use Assets And Operating Lease Liabilities
Office and warehouse lease	$ 702,888	$ 702,888
Less: Accumulated amortization	(401,934)	(330,437)
Right-of-use assets, net	$ 300,954	$ 372,451

SCHEDULE OF OPERATING LEASE LIABILITIES (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Operating Lease Right-of-use Assets And Operating Lease Liabilities
Lease liability	$ 312,608	$ 384,382
Less current portion	(155,688)	(147,993)
Long term portion	$ 156,920	$ 236,389

SCHEDULE OF MATURITY OF LEASE LIABILITIES (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Operating Lease Right-of-use Assets And Operating Lease Liabilities
For the year ending December 31, 2024 (remaining period)	$ 86,760
For the year ending December 31, 2025	175,942
For the year ending December 31, 2026	74,030
Total	336,732
Less: present value discount	(24,124)
Lease liability	$ 312,608	$ 384,382

OPERATING LEASE RIGHT-OF-USE ASSETS AND OPERATING LEASE LIABILITIES (Details Narrative)		3 Months Ended		6 Months Ended
	Jun. 01, 2021 USD ($)	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2021 USD ($)	Apr. 30, 2021	Apr. 14, 2021 ft²
Operating lease term								5 years	5 years
Area of land | ft²									8,100
Lease payments increase percentage	2.40%
Operating lease liability		$ 312,608		$ 312,608		$ 384,382
Operating lease expense		$ 306	$ 681	$ 277	$ 29,382
Accounting Standards Update 2016-02 [Member]
Operating lease liability							$ 702,888
CALIFORNIA
Initial lease payments	$ 13,148
Estimated incremental borrowing rate									7.50%

SCHEDULE OF LOSS FROM DISCONTINUED OPERATIONS (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Discontinued Operations and Disposal Groups [Abstract]
Revenues		$ 5,363	$ 3,573	$ 10,726
Cost of goods sold
Gross profit		5,363	3,573	10,726
Operating expenses
Interest expense
Income from discontinued operations		$ 5,363	3,573	$ 10,726
Accounts payable and accrued liabilities	445,565		445,565		$ 445,565
Current portion of notes payable	589,246		589,246		589,246
Deferred revenues					3,573
Total current liabilities of discontinued operations	$ 1,034,811		$ 1,034,811		$ 1,038,384

DISCONTINUED OPERATIONS (Details Narrative) - USD ($)	Jun. 30, 2024	Dec. 31, 2023	Jun. 24, 2022	May 16, 2022
Total assets of discontinued operations	$ 0	$ 0
Letter of credit	344,166
Term loan	134,681
Accounts Payable and Accrued Liabilities [Member]
Accrued interest and fees	$ 54,256
Catherine Chis [Member]
Accrues per interest				$ 28.60
Line of credit				$ 141,415
Catherine Chis [Member] | Letter of Credit [Member]
Face value of LOC				$ 352,415
Accrues per interest				$ 63.65
Power Conversion Technologies Inc [Member]
Accrues per interest			$ 28.60
Line of credit			$ 142,473
Power Conversion Technologies Inc [Member] | Letter of Credit [Member]
Face value of LOC			$ 354,774
Accrues per interest			$ 63.65

SUBSEQUENT EVENTS (Details Narrative) - shares		3 Months Ended				6 Months Ended
	Jul. 22, 2024	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023	Jun. 04, 2024	Dec. 31, 2023	May 05, 2023
Subsequent Event [Line Items]
Capital stock shares authorized								9,000,000,000		7,000,000,000
Common stock shares authorized		8,990,000,000				8,990,000,000		8,990,000,000	8,990,000,000	6,990,000,000
Preferred stock shares authorized		10,000,000				10,000,000		10,000,000	10,000,000	10,000,000
Common Stock [Member]
Subsequent Event [Line Items]
Issuance of shares of common stock sold, net of issuance costs, shares		806,213,965	340,303,728	15,048,619	107,756,783	1,146,517,693	122,805,402
GHS Investments LLC [Member] | Subsequent Event [Member] | Common Stock [Member]
Subsequent Event [Line Items]
Issuance of shares of common stock sold, net of issuance costs, shares	2,000,000,000

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