$SNPW

Sun Pacific Holding Corp.

CIK:0001343465|SEC Filings

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Statement [Abstract]
Revenues		$ 29,863	$ 45,815	$ 252,114
Cost of revenues		4,255	6,697	12,320
Gross profit		25,608	39,118	239,794
Operating expenses:
Wages and compensation	118,580	40,458	172,525	121,375
Professional fees	232,364	19,390	266,154	62,025
General and administrative	37,866	21,125	243,107	165,643
Total operating expenses	388,810	80,973	681,786	349,043
Loss from operations	(388,810)	(55,365)	(642,668)	(109,249)
Other income (expenses):
Other income (expense), net		(64,360)		19,790
Gain on forgiveness of debt			274,699
Interest expense	(10,489)	(18,254)	(36,735)	(46,361)
Total other income (expense), net	(10,489)	(82,614)	237,964	(26,571)
Income tax expense
Net Loss	$ (399,299)	$ (137,979)	$ (404,704)	$ (135,820)
Net Loss Per Common Share - Basic	$ (0.00)	$ (0.00)	$ (0.00)	$ (0.00)
Weighted Average Shares Outstanding - Basic	974,953,335	974,953,335	974,953,335	974,953,335
Net Loss Per Common Share - Diluted	$ (0.00)	$ (0.00)	$ (0.00)	$ (0.00)
Weighted Average Shares Outstanding - Diluted	1,935,870,878	1,280,013,258	1,935,870,878	1,280,013,258

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Cash flows from Operating Activities:
Net loss	$ (404,704)	$ (135,820)
Adjustments to reconcile net loss to net cash (used in)
Depreciation		14,499
Gain on sale of property		(19,790)
Gain on forgiveness of debt	(274,699)
Changes in operating assets and liabilities:
Decrease in accounts receivable	4,660	108,832
Decrease (increase) in other assets	1,108	(1,500)
Increase in accounts payable	26,032	56,156
Decrease in accounts payable, related party		(71,688)
Increase in accrued compensation to officer	172,525	121,376
Increase in accrued expenses	21,664	29,416
Increase in accrued expenses, related party	13,809	17,310
Net cash (used in) provided by operating activities	(439,605)	118,791
Cash flows from Investing Activities:
Proceeds from sale of property		84,150
Net cash provided by investing activities		84,150
Cash flows from Financing Activities:
Advances from related parties	312,737
Net cash provided by financing activities	312,737
Net (decrease) increase in cash and cash equivalents	(126,868)	202,941
Cash and cash equivalents at beginning of period	147,049	68,974
Cash and cash equivalents at end of period	20,181	271,915
Supplemental Disclosure of Cash Flow Information:
Interest paid
Taxes paid
Supplemental Disclosure of Cash Flow Information:
Note payable extension fee added to principal		458,063
Issuance of common stock upon conversion of convertible debt and accrued interest		$ 155,209

Condensed Consolidated Balance Sheets (Unaudited) - USD ($)	Sep. 30, 2023	Dec. 31, 2022
Current Assets:
Cash and cash equivalents	$ 20,181	$ 147,049
Accounts receivable, net	1,650	6,310
Total current assets	21,831	153,359
Deposits and other assets	22,923	24,031
Total assets	44,754	177,390
Current Liabilities:
Dividends payable, related party	22,038	22,038
Project financing obligation	260,000	260,000
Notes payable, net of discounts		200,000
Total current liabilities	3,546,016	3,273,948
Total liabilities	3,546,016	3,273,948
Commitments and contingencies (see Note 6)
Stockholders’ Deficit:
Preferred stock value
Common stock $0.0001 par value, 1,000,000,000 shares authorized; 974,953,335 shares issued and outstanding	97,495	97,495
Additional paid in capital	4,847,775	4,847,775
Accumulated deficit	(8,447,732)	(8,043,028)
Total stockholders’ deficit	(3,501,262)	(3,096,558)
Total liabilities and stockholders’ deficit	44,754	177,390
Series A Preferred Stock [Member]
Stockholders’ Deficit:
Preferred stock value	1,200	1,200
Series B Preferred Stock [Member]
Stockholders’ Deficit:
Preferred stock value
Series C Preferred Stock [Member]
Current Liabilities:
Dividends payable, related party	22,038	22,038
Stockholders’ Deficit:
Preferred stock value
Nonrelated Party [Member]
Current Liabilities:
Accounts payable	55,501	29,469
Accrued expenses	99,263	152,298
Convertible notes payable	98,425	98,425
Related Party [Member]
Current Liabilities:
Accounts payable	71,512	71,512
Advances from related parties	933,169	620,432
Accrued expenses	171,922	158,113
Convertible notes payable	408,196	408,196
Officer [Member]
Current Liabilities:
Advances from related parties	$ 1,425,990	$ 1,253,465