EDGAR 10-K Filing

Company CIK: 1501862
Filing Year: 2021
Filename: 1501862_10-K_2021_0001213900-21-021785.json

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ITEM 1. BUSINESS
ITEM 1. BUSINESS.
Overview
Empire Global Gaming, Inc. (the “Company,” “We” or “Our”) was incorporated under the laws of the State of Nevada on May 11, 2010 to participate in the worldwide gaming market. We offer custom gaming solutions for each customer’s individual needs. We provide consulting and advisory services to the gaming industry.
Other Products
We will be developing patented games into video and slot machine terminals as well as computer and mobile devices.
The Company has taken certain steps to become fully “e-commerce” operational while awaiting Gaming Board approvals. We operate a website located at: www.empireglobalgaminginc.com.
Industry Overview
The domestic and global gaming markets have grown rapidly and consistently over most of the last decade despite some slowdown in the past three years due to the macroeconomic recession. This growth has generally brought increased social and political acceptance of legalized gaming throughout many diverse societies. The conventional wisdom that the gaming industry is recession- proof has been challenged over the last three years. However, recent economic pressures have prompted new efforts to legalize casino gaming and to liberalize gaming laws to fill fiscal gaps. Furthermore, in the current environment, operators are pressured to extract the most out of existing operations by enhancing the competitiveness of their floor at minimal investment rather than deploying cash into new or expanded equipment or facilities. While historical U.S. trends suggest a resilient recovery will eventually be at hand, through our proprietary products, we expect to offer the casino operator products that will enhance the gaming machine’s productivity while simultaneously enhancing the customer’s playing experience.
Competition
The gaming business is highly competitive. The principal areas of competition are pricing, packaging, development of new products, and marketing campaigns. Our products compete with a wide range of games produced by a relatively large number of manufacturers, most of which have substantially greater financial, marketing, and distribution resources than we do.
Government Regulation
We are subject to regulation by governmental authorities in most jurisdictions in which we operate. Gaming regulatory requirements vary from jurisdiction to jurisdiction, and obtaining licenses and findings of suitability for our officers, directors, and principal stockholders, registrations, and other required approvals with respect to us, our personnel, and our products are time consuming and expensive. Generally, gaming regulatory authorities have broad discretionary powers and may deny applications for or revoke approvals on any basis they deem reasonable. We have not yet obtained approvals that enable us to conduct our (gaming) business in any jurisdictions. In the event a gaming jurisdiction determines that an officer, director, key employee, stockholder, or other personnel of our company is unsuitable to act in such a capacity, we will be required to terminate our relationship with such person or lose our rights and privileges in that jurisdiction. This may have a materially adverse effect on us. We may be unable to obtain all the necessary licenses and approvals or ensure that our officers, directors, key employees, affiliates, and certain other stockholders will satisfy the suitability requirements in each jurisdiction in which our products are sold or used. The failure to obtain such licenses and approvals in one jurisdiction may affect our licensure and approvals in other jurisdictions. In addition, a significant delay in obtaining such licenses and approvals could have a material adverse effect on our business prospects.
Board of Directors
As of December 5, 2018, Nicholas Sorge, Sr. was the President and Director and Dolores Marsh was the Chief Financial Officer, Secretary and Director. On December 6, 2018, the Board of Directors approved and authorized the appointment of A. Stone Douglass as Chief Executive Officer, Secretary and Chairman of the Board of Directors. Nicholas Sorge Sr. remains the President and a Director, as well as the interim Chief Financial Officer. Dolores Marsh stepped down as an officer and Director of the Company. We have not employed additional people either on a full time or part time basis.
Corporate Information
Our principal executive offices are located at 555 Woodside Ave, Bellport, NY 11713. Our telephone number is 631-769-4222.

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ITEM 1A. RISK FACTORS
Item 1A. Risk Factors.
As a “smaller reporting company” as defined by Item 10 of Regulation S-K, the Company is not required to provide this information.

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ITEM 1B. UNRESOLVED STAFF COMMENTS
Item 1B. Unresolved Staff Comments.
As a “smaller reporting company” as defined by Item 10 of Regulation S-K, the Company is not required to provide this information.

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ITEM 2. PROPERTIES
Item 2. Description of Property.
The Company has temporary office space at 555 Woodside Ave, Bellport, NY 11713, which is provided at no cost to the Company by our President and shareholder, Nicholas Sorge, Sr. Once restrictions relating to COVID-19 have subsided, the Company will retain formal office space elsewhere.

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ITEM 3. LEGAL PROCEEDINGS
Item 3. Legal Proceedings.
To the best knowledge of our officers and directors, the Company is not a party to any legal proceeding or litigation.

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ITEM 4. MINE SAFETY DISCLOSURE
Item 4. Mine Safety Disclosures.
Not applicable.
PART II

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ITEM 5. MARKET FOR REGISTRANT'S COMMON EQUITY
Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
In October 2012 we were cleared by FINRA for an unpriced quotation on the OTC Bulletin Board under the symbol “EPGG.” There is no established public trading market for our common stock. Our issued and outstanding common stock is held by approximately 57 holders of record.
We have not paid any cash dividends in the past. We anticipate that any earnings will be retained for development of our business and we do not anticipate paying any cash dividends in the foreseeable future. Any future dividends declared would be at the discretion of our board of directors and would depend on our financial condition, results of operations, contractual obligations, the terms of our financing agreements at the time a dividend is considered, and other relevant factors.

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ITEM 6. SELECTED FINANCIAL DATA
Item 6. Selected Financial Data.
As a “smaller reporting company, the Company is not required to provide this information.

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ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS
Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operation
The following discussion of our financial condition and results of operations should be read together with the consolidated financial statements and the related notes included in this report. This discussion contains, in addition to historical information, forward-looking statements that involve risks and uncertainties. Our actual results could differ materially from the results discussed in the forward-looking statements. Factors that could cause or contribute to these differences include those discussed below as well as those discussed elsewhere in this report. We disclaim any obligation to update information contained in any forward-looking statement.
General
We presently sell our ancillary gaming products in the United States but contemplate selling and leasing our products worldwide, in the future. Although the Company has obtained the license for the manufacturing, sale, marketing and licensing of the four roulette patents, the Company has not developed or manufactured any products for license, lease or sale to casinos as of yet. Although the Company is licensed to manufacturer patented roulette wheels and tables, it has no intention of doing so now or in the foreseeable future. The licensed games will not be available for sale on our website until approved by the applicable Gaming Control Board.
The Company has not, as of yet, arranged for any lines of credit, and we have no commitments, written or oral, from officers, directors or shareholders to provide the Company with advances, loans or other funding for our operations.
Critical Accounting Estimates
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America required management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. On an on-going basis, we evaluate our estimates, based on historical experience, and various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results could differ from those estimates.
Recent Accounting Pronouncements
From time to time new accounting pronouncements are issued by the Financial Accounting Standards Board or other standard setting bodies that may have an impact on the Company’s accounting and reporting. The Company believes that such recently issued accounting pronouncements and other authoritative guidance for which the effective date is in the future will not have an impact on its accounting or reporting or that such impact will not be material to its financial position, results of operations and cash flows when implemented.
Results of Operations
Year ended December 31, 2020 Compared to the year ended December 31, 2019
Revenues
The Company did not generate revenues for the years ending December 31, 2020 and 2019.
General and Administrative Expenses
During the year ended December 31, 2020, general and administrative expenses were $70,208, consisting primarily of professional fees and stock compensation expense, as compared to $33,701 for year ended December 31, 2019. The increase of $36,507 was primarily due to professional fees and stock compensation expense.
Interest Expense
During the year ended December 31, 2020, interest expense was $19,088 as compared to $9,169 for year ended December 31, 2019. The increase of $9,919 was primarily due to an increase in accrued interest due to additional proceeds from third parties and amortization of debt discount.
Net Loss
Our net loss was $81,174 for the year ended December 31, 2020 as compared to a loss of $42,870 for the year ended December 31, 2019. The increase is primarily due to the reasons referred to above.
Liquidity and Capital Resources
As of December 31, 2020, we had a stockholders’ deficit of $144,757 and negative working capital of $139,022 compared to stockholders’ deficit of $238,056 and negative working capital of $238,056 at December 31, 2019. Cash was $65,176 as of December 31, 2020, as compared to $3,113 at December 31, 2019. This decrease in our working capital was primarily attributable to the increase of cash of $62,063, the decrease in accrued interest due of $1,465, the increase in accounts payable and accrued expenses of $1,771, an increase in convertible notes of $5,735 and a decrease in notes payable - other of $43,973. The net loss for the year ended 2020 was primarily due to professional fees of $55,984 and finance costs of $12,000.
Net cash used in operations during 2020 was $23,937 compared with $31,570 used in operations during 2019. Cash used in operations during 2019 was primarily due to the net loss in the period and changes in accrued interest.
Net cash provided by financing activities was $86,000 in 2020 and $34,673 in 2019, which was the result of proceeds from convertible notes payable and notes payable.
Going Concern
Our auditors have issued a going concern opinion regarding our financial statements in conformity with generally accepted accounting principles, which contemplate continuation of the Company as a going concern. The Company generated minimal revenues, has experienced recurring net operating losses since inception and had negative working capital of $139,022 and stockholders’ deficit of $144,757 at December 31, 2020. Because of these factors, among others, our auditors have issued a going concern opinion on our audited financial statements that raises substantial doubt about the Company’s ability to continue as a going concern. These financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts, or amounts and classification of liabilities that might result from this uncertainty. We will need to raise funds or implement our business plan to continue operations.
The Company’s present plans, the realization of which cannot be assured, to overcome these difficulties include, but are not limited to, among other things, additional capital resources. Management’s plan is to obtain such resources for the Company by obtaining capital from management and significant shareholders sufficient to meet its minimal operating expenses and seeking equity and/or debt financing. Through capital influx from third party investors, the Company plans to spend on marketing for all current products to generate revenues, enter into license and royalty agreements with its patented products, as well as seek acquisitions that generate cash flows. However management cannot provide any assurances that the Company will be successful in accomplishing any of its plans.
Commitment and Contingencies
None.
Off-Balance Sheet Arrangements
None.

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ITEM 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
Item 7A. Quantitative and Qualitative Disclosures about Market Risk.
As a “smaller reporting company” as defined by Item 10 of Regulation S-K, the Company is not required to provide this information.

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ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA
Item 8. Financial Statements and Supplementary Data.
Financial statements and supplementary data required by this Item 8 follow.
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
To the Board of Directors and
Stockholders of Empire Global Gaming, Inc.
Opinion on the Financial Statements
We have audited the accompanying balance sheet of Empire Global Gaming, Inc. (the Company) as of December 31, 2020 and 2019, and the related statements of operations, stockholders’ deficit, and cash flows for year then ended, and the related notes and schedules (collectively referred to as the financial statements). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2020 and 2019 and the results of its operations and its cash flows for the year then ended, in conformity with accounting principles generally accepted in the United States of America.
Emphasis of a matter
The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As described in Note 2 to the financial statements, the Company has generated minimal revenue since inception, has experienced recurring operating losses since inception and negative working capital of $139,022 and stockholders’ deficit of $144,757 at December 31, 2020. These factors, among others, raise substantial doubt regarding the Company’s ability to continue as a going concern. Management’s plans in regard to these matters are also described in Note 2 to the accompanying financial statements. The accompanying financial statements do not include any adjustments that might result from the outcome of this uncertainty.
Basis for Opinion
These financial statements are the responsibility of the Company’s management. Our responsibility is to express an opinion on the Company’s financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.
We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits, we are required to obtain an understanding of internal control over financial reporting, but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control over financial reporting. Accordingly, we express no such opinion.
Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.
Critical Audit Matter
The critical audit matter communicated below is a matter arising from the current period audit of the financial statements that were communicated or required to be communicated to the audit committee and that: (1) relate to accounts or disclosures that are material to the financial statements and (2) involved our especially challenging, subjective or complex judgments. The communication of the critical audit matter does not alter in any way our opinion on the consolidated financial statements, taken as a whole, and we are not, by communicating the critical audit matter below, providing separate opinions on the critical audit matters or on the accounts or disclosures to which it relates.
Convertible Notes
Critical Audit Matter Description
As discussed in Note 5 to the financial statements, during the year ending December 31, 2020, the Company modified existing debt with the issuance of convertible notes. The Company analyzed if the changes were considered a modification or an extinguishment, and determined it was a modification of the existing debt. The Company analyzed the conversion feature of the notes and determined that they did not meet the definition of a derivative to be bifurcated from the host contract and were recorded at fair value as a liability upon inception of the note and at each reporting date at fair value. In addition, the Company analyzed the convertible notes to determine if the modification should be accounted for as an extinguishment of debt. The Company then determined that the convertible notes met the conditions for a beneficial conversion feature (BCF). The company calculated the BCF and recorded as a debt discount.
How the Critical Audit Matter was addressed in Our Audit
We evaluated and discussed with management their analysis of the new terms as a modification, as well as the conversion feature and that it did not require bifurcation from the debt instrument and recognition as a derivative liability, but it did contain a beneficial conversion feature (“BCF”). Our audit procedures included, among other things, reading and analyzing the note to ensure management’s assessments were correct that the new terms were a modification, and that the conversion feature should not be bifurcated and that a beneficial conversion feature existed. Management calculated the BCF based on the terms of the agreements. We tested the overall calculations, the significance of the change in the terms of the notes, the calculation of shares issuable upon conversion based on the terms of the note and recalculated the BCF. We also tested the recording of the BCF as equity and a debt discount. We also recalculated the amortization of the debt discount recorded as interest expense.
/s/ Prager Metis CPAs, LLC
We have served as the Company’s auditor since 2018.
Hackensack, NJ
April 15, 2021
Empire Global Gaming, Inc.
BALANCE SHEETS
December 31,
ASSETS
CURRENT ASSETS:
Cash $ 65,176 $ 3,113
TOTAL CURRENT ASSETS AND TOTAL ASSETS $ 65,176 $ 3,113
LIABILITIES AND STOCKHOLDERS' DEFICIT
CURRENT LIABILITIES:
Accounts payable and accrued expenses $ 3,901 $ 2,130
Accrued interest 1,236 2,701
Accrued interest - related parties 31,668 24,972
Notes payable - related parties 167,393 167,393
Notes payable - other - 43,973
Total Current Liabilities 204,198 241,169
Convertible notes payable, net 5,735 -
TOTAL LIABILITIES 209,933 241,169
Commitments and contingencies (Note 8) - -
STOCKHOLDERS' DEFICIT:
Common stock: $0.001 par value; 980,000,000 authorized, 257,301,000 and 257,301,000 shares issued and outstanding as of December 31, 2020 and 2019, respectively 257,301 257,301
Common shares to be issued -
Additional paid-in capital 838,372 664,099
Accumulated deficit (1,240,630 ) (1,159,456 )
TOTAL STOCKHOLDERS' DEFICIT (144,757 ) (238,056 )
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT $ 65,176 $ 3,113
The accompanying notes are an integral part of these financial statements
Empire Global Gaming, Inc.
STATEMENTS OF OPERATIONS
Years Ended December 31,
REVENUES $ - $ -
OPERATING EXPENSES:
General and administrative expenses 70,208 33,701
TOTAL OPERATING EXPENSES 70,208 33,701
LOSS FROM OPERATIONS (70,208 ) (33,701 )
OTHER INCOME (EXPENSE):
Interest expense (12,392 ) (2,586 )
Interest expense - related parties (6,696 ) (6,583 )
Other income 8,122 -
TOTAL OTHER INCOME (EXPENSE) (10,966 ) (9,169 )
NET LOSS $ (81,174 ) $ (42,870 )
NET LOSS PER COMMON SHARE:
Basic and diluted $ (0.00 ) $ (0.00 )
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING:
Basic and diluted 257,301,000 257,301,000
The accompanying notes are an integral part of these financial statements
Empire Global Gaming, Inc.
STATEMENTS OF STOCKHOLDERS’ DEFICIT
Common Stock Common Shares
to be Issued Additional
Paid in Accumulated
Shares Amount Shares Amount Capital Deficit Total
Balances, December 31, 2018 257,301,000 $ 257,301 - $ - $ 664,099 $ (1,116,586 ) $ (195,186 )
Net loss - - - - - (42,870 ) (42,870 )
Balances, December 31, 2019 257,301,000 $ 257,301 - $ - $ 664,099 $ (1,159,456 ) $ (238,056 )
Finance cost for issuance of common shares for note modification - - 200,000 11,800 - 12,000
Debt discount on convertible notes - - - - 162,473 - 162,473
Net loss - - - - - (81,174 ) (81,174 )
Balances, December 31, 2020 257,301,000 $ 257,301 200,000 $ 200 $ 838,372 $ (1,240,630 ) $ (144,757 )
The accompanying notes are an integral part of these financial statements
Empire Global Gaming, Inc.
STATEMENTS OF CASH FLOWS
Years Ended December 31,
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss $ (81,174 ) $ (42,870 )
Adjustment to reconcile change in net loss to net cash used in operating activities:
Forgiveness of debt (8,122 ) -
Amortization of debt discount 5,735 -
Note payable issued for services rendered 32,500 -
Finance cost for issuance of note modification 12,000 -
Changes in operating assets and liabilities:
Accounts payable and accrued expenses 1,771 2,130
Accrued interest 6,657 2,586
Accrued interest - related parties 6,696 6,584
NET CASH USED IN OPERATING ACTIVITIES (23,937 ) (31,570 )
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from convertible notes 69,000 -
Proceeds from related party notes payable - 4,200
Proceeds from notes payable - other 17,000 30,473
NET CASH PROVIDED BY FINANCING ACTIVITIES 86,000 34,673
Net increase in cash 62,063 3,103
Cash, beginning of year 3,113
Cash, end of year $ 65,176 $ 3,113
SUPPLEMENTAL CASH FLOW INFORMATION:
Cash paid for interest $ - $ -
Cash paid for taxes $ - $ -
NON-CASH ACTIVITIES:
Accrued interest converted to principal on note payable $ - $ 4,173
Modification of notes payable to convertible notes payable $ 93,473 $ -
Debt discount on convertible notes payable $ 162,473 $ -
The accompanying notes are an integral part of these financial statements
EMPIRE GLOBAL GAMING, INC.
NOTES TO FINANCIAL STATEMENTS
NOTE 1. ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES
Business Description
Empire Global Gaming, Inc. (the “Company”) was incorporated in the State of Nevada on May 11, 2010 in order to actively engage in the gaming business worldwide. The Company is developing a complete line of public and casino grade gaming products for roulette, blackjack, craps, baccarat, mini baccarat, pinwheels, Sic Bo, slot machines, poker tables and bingo games. The Company also provides advice to consumers on several different lottery type games.
Summary of Significant Accounting Policies
Cash
The Company considers highly liquid investments with original maturities of three months or less when purchased as cash equivalents. The Company had no cash equivalents as of December 31, 2020 and 2019. At times throughout the year, the Company might maintain bank balances that may exceed Federal Deposit Insurance Corporation insured limits. Periodically, the Company evaluates the credit worthiness of the financial institutions, and has not experienced any losses in such accounts. At December 31, 2020 and 2019, the Company had $0 over the insurable limit.
Basis of Presentation
The Company’s financial statements are presented in accordance with accounting principles generally accepted in the United States of America.
Use of Estimates
The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions which affect the reporting of assets and liabilities as of the dates of the financial statements and revenues and expenses during the reporting period. These estimates primarily relate to the sales recognition, allowance for doubtful accounts, inventory obsolescence and asset valuations. Actual results could differ from these estimates. Management’s estimates and assumptions are reviewed periodically, and the effects of revisions are reflected in the unaudited condensed financial statements in the periods they are determined to be necessary.
Fair Value of Financial Instruments
Generally Accepted Accounting Principles (“GAAP”) requires certain disclosures regarding the fair value of financial instruments. The fair value of financial instruments is made as of a specific point in time, based on relevant information about financial markets and specific financial instruments. As these estimates are subjective in nature, involving uncertainties and matters of significant judgment, they cannot be determined with precision. Changes in assumptions can significantly affect estimated fair values.
GAAP defines fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities required or permitted to be recorded at fair value, the Company considers the principal, or most advantageous market in which it would transact, and it considers assumptions that market participants would use when pricing the asset or liability.
GAAP establishes a fair value hierarchy that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the degree of subjectivity that is necessary to estimate the fair value of a financial instrument. GAAP establishes three levels of inputs that may be used to measure fair value:
Level 1 - Level 1 applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities.
Level 2 - Level 2 applies to assets or liabilities for which there are inputs other than quoted prices included within Level 1 that are observable for the asset or liability such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical assets or liabilities in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data.
Level 3 - Level 3 applies to assets or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities.
The estimated fair value of certain financial instruments, including cash, accrued expenses, notes payable and convertible notes payable are carried at historical cost basis, which approximates fair values because of the short-term maturing of these instruments. We have no financial assets or liabilities measured at fair value on a recurring basis.
Revenue Recognition
The Company recognizes revenue under Financial Accounting Standards Board’s (“FASB”) Accounting Standards Codification (“ASC”) 606, Revenue from Contracts with Customers (“ASC 606”). The core principle of this standard is that a company should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services.
ASC 606 prescribes a five step process to achieve its core principle. The Company recognizes revenue from product sales as follows:
I. Identify the contract with the customer.
II. Identify the contractual performance obligations.
III. Determine the amount of consideration/price for the transaction.
IV. Allocate the determined amount of consideration/price to the contractual obligations.
V. Recognize revenue when or as the performing party satisfies performance obligations.
The consideration/price for the transaction (performance obligation(s)) is determined as per the invoice for the products.
When the Company begins to recognize, we will recognize revenues from product sales only when there is persuasive evidence of an arrangement, delivery has occurred, the sale price is determinable and collectability is reasonably assured and from fees as paid for in an online transaction.
Impairment of long lived assets
The Company evaluates the carrying value and recoverability of its long-lived assets when circumstances warrant such evaluation by applying the provisions of FASB ASC 360-35, Property, Plant and Equipment, Subsequent Measurement (“ASC 360-35”). ASC 360-35 requires that long-lived assets be reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable through the estimated undiscounted cash flows expected to result from the use and eventual disposition of the assets. Whenever any such impairment exists, an impairment loss will be recognized for the amount by which the carrying value exceeds the fair value.
Income Taxes
The Company utilizes the FASB ASC 740, Income Tax (“ASC 740”). ASC 740 requires the recognition of deferred tax assets and liabilities for the expected future tax consequence of events that have been include in the financial statements or tax returns. Under this method, deferred tax assets and liabilities are determined based on the differences between the financial statement carrying amounts and the tax bases of assets and liabilities using enacting tax rates in effect in the years in which the differences are expected to reverse. Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized.
The Company has adopted the provision of FASB ASC 740-10-05, Accounting for Uncertainties in Income Taxes. The ASC clarifies the accounting for uncertainty in income taxes recognized in an enterprise’s financial statements. The ASC prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. The ASC provides guidance on de-recognition, classification, interest and penalties, accounting in interim periods, disclosure and transition.
Financial and Concentrations Risk
The Company does not have any concentration or related financial credit risk as of December 31, 2020 and 2019.
Stock Based Compensation
The Company follows FASB ASC 718, Compensation - Stock Compensation, which prescribes accounting and reporting standards for all share-based payment transactions. Transactions include incurring liabilities, or issuing or offering to issue shares, options, and other equity instruments such as employee stock ownership plans and stock appreciation rights. Share-based payments to employees, including grants of employee stock options, are recognized as compensation expense in the unaudited condensed financial statements based on their fair values. That expense is recognized over the period during which an employee is required to provide services in exchange for the award, known as the requisite service period (usually the vesting period).
For the years ended December 31, 2020 and 2019, the Company had $12,000 and $0 in finance charges in relation to issuance of common stock for a note modification, respectively.
Convertible Instruments
The Company evaluates and accounts for conversion options embedded in its convertible instruments in accordance with professional standards for Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 815, Derivatives and Hedging (“ASC 815”).
Professional standards generally provides three criteria that, if met, require companies to bifurcate conversion options from their host instruments and account for them as free standing derivative financial instruments. These three 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 otherwise applicable generally accepted accounting principles 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. Professional standards also provide an exception to this rule when the host instrument is deemed to be conventional as defined under professional standards as “The Meaning of Conventional Convertible Debt Instrument”.
The Company accounts for convertible instruments (when it has determined that the embedded conversion options should not be bifurcated from their host instruments) in accordance with professional standards when “Accounting for Convertible Securities with Beneficial Conversion Features,” as those professional standards pertain to “Certain Convertible Instruments.” Accordingly, 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 the note transaction and the effective conversion price embedded in the note. Debt discounts under these arrangements are amortized over the term of the related debt to their earliest date of redemption. The Company also records when necessary deemed dividends for the intrinsic value of conversion options embedded in preferred shares based upon the differences between the fair value of the underlying common stock at the commitment date of the note transaction and the effective conversion price embedded in the note.
ASC 815 provides that, among other things, generally, if an event is not within the entity’s control could or require net cash settlement, then the contract shall be classified as an asset or a liability.
Recent Accounting Pronouncements
From time to time new accounting pronouncements are issued by the Financial Accounting Standards Board or other standard setting bodies that may have an impact on the Company’s accounting and reporting. The Company believes that such recently issued accounting pronouncements and other authoritative guidance for which the effective date is in the future will not have an impact on its accounting or reporting or that such impact will not be material to its financial position, results of operations and cash flows when implemented.
NOTE 2. GOING CONCERN
The Company’s financial statements have been prepared using generally accepted accounting principles in the United States of America applicable to a going concern which contemplates the realization of assets and liquidation of liabilities in the normal course of business. The Company has incurred a net loss of $81,174 during the year ended December 31, 2020. Cash on hand will not be sufficient to cover debt repayments, operating expenses and capital expenditure requirements for at least twelve months from the balance sheet date. As of December 31, 2020, the Company had a working capital deficit of $139,022. In order to continue as a going concern, the Company will need, among other things, additional capital resources. These factors, among others, raise substantial doubt about the ability of the Company to continue as a going concern for a reasonable period of time. Management’s plan is to seek equity and/or debt financing. However, management cannot provide any assurances that the Company will be successful in accomplishing any of its plans.
In December 2019, an outbreak of a novel strain of coronavirus (COVID-19) originated in Wuhan, China, and has since spread to a number of other countries, including the United States. On March 11, 2020, the World Health Organization characterized COVID-19 as a pandemic. In addition, as of the time of the filing of this Annual Report on Form 10-K, several states in the United States and elsewhere have declared states of emergency, and several countries around the world, including the United States, have taken steps to restrict travel. While the Company presently has no ongoing operations or employees, this situation could limit the market for a merger partner for a strategic business combination. Any of these uncertainties could have a material adverse effect on the business, financial condition or results of operations.
There are no assurances that the Company will be able to either (1) achieve a level of revenues adequate to generate sufficient cash flow from operations; or (2) obtain additional financing through either private placements, public offerings and/or bank financing necessary to support the Company’s working capital requirements. To the extent that funds generated from operations, any private placements, public offerings and/or bank financing are insufficient, the Company will have to raise additional working capital. No assurance can be given that additional financing will be available, or if available, will be on terms acceptable to the Company.
The ability of the Company to continue as a going concern is dependent upon its ability to successfully accomplish the plans described in the preceding paragraph and eventually secure other sources of financing and attain profitable operations. The accompanying financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.
NOTE 3. LOSS PER SHARE
The Company utilizes the guidance per ASC 260, Earnings Per Share. Basic earnings per share is calculated on the weighted effect of all common shares issued and outstanding, and is calculated by dividing net income available to common stockholders by the weighted average shares outstanding during the period. Diluted earnings per share, which is calculated by dividing net income available to common stockholders by the weighted average number of common shares used in the basic earnings per share calculation, plus the number of common shares that would be issued assuming conversion of all potentially dilutive securities outstanding, is not presented separately as of December 31, 2020 as it is anti-dilutive. Such securities, shown below, presented on a common share equivalent basis and outstanding as of years ended December 31, 2020 and 2019 have been excluded from the per share computations:
December 31,
Convertible notes payable 163,708,440 -
Total diluted shares 163,708,440 -
NOTE 4. INCOME TAXES
The components of the Company’s deferred tax asset are as follows:
December 31,
December 31,
Net operating loss carry forward $ 29,138 $ 14,611
Valuation allowance (29,138 ) (14,611 )
Net deferred tax asset $ - $ -
The Company had a net operating loss carryforward of approximately $999,988 and $930,814 for the years ended December 31, 2020 and 2019, of which $269,575 carryforward indefinitely and $730,413 carryforward 20 years. The net operating losses may be subject to limitations under Internal Revenue Code Section 382 should there be a 50% ownership change as determined under regulations.
The reconciliation of income tax rate at the U.S. statutory rate of 21% to the Company’s effective tax rate is as follows:
US Statutory rate 21 % 21 %
Valuation allowance -21 % -21 %
Income tax provision - -
The Company files income tax returns in the United States. The Company has filed its U.S. federal return for the year ended December 31, 2020 in 2021, and as a result the U.S. federal returns for 2020, 2019 and 2018 will be considered as open tax years subject to examination. No tax returns are currently under examination by any tax authorities. The Company has not accrued any additional interest or penalties for the delinquency of outstanding tax returns as the Company has incurred net losses in those periods still outstanding.
In assessing the realization of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income and tax planning strategies in making this assessment. Based on the assessment, management has established a full valuation allowance against the entire deferred tax asset relating to NOLs for every period because it is more likely than not that all of the deferred tax asset will not be realized.
NOTE 5. CONVERTIBLE NOTES
On November 20, 2020 the Company received a forbearance letter amending the terms of the grid promissory note by adding a conversion feature to the note, thereby making the note a convertible note (see Note 7). The note is due on December 31, 2022, bearing interest at 10% per annum. The holder has the option to lend additional amounts to the borrower from time to time in the future, on the terms set forth in this agreement. This grid promissory note contains a provision for conversion at the holder's option of any outstanding principal balance including accrued interest, into the Company's common stock at a conversion price equal to par value, $0.001 per share. The Company recognized there was a beneficial conversion feature associated with this note, and recorded a debt discount of $115,755, and for the year ended December 31, 2020 amortization of debt discount associated with this note was $3,458. The principal amount of the note at December 31, 2020 is $115,755 and the related accrued interest is $744.
On November 20, 2020 the Company received a forbearance letter amending the terms of the grid promissory note by adding a conversion feature to the note, thereby making the note a convertible note (see Note 7). The note is due on December 31, 2022, bearing interest at 10% per annum. The holder has the option to lend additional amounts to the borrower from time to time in the future, on the terms set forth in this agreement. This grid promissory note contains a provision for conversion at the holder's option of any outstanding principal balance including accrued interest, into the Company's common stock at a conversion price equal to par value, $0.001 per share. The Company recognized there was a beneficial conversion feature associated with this note, and recorded a debt discount of $46,718, and for the year ended December 31, 2020 amortization of debt discount associated with this note was $2,277. The principal amount of the note at December 31, 2020 is $46,718 and the related accrued interest is $492.
NOTE 6. NOTES PAYABLE - RELATED PARTY
The Company had notes payable to stockholders who are our president and former chief financial officer. The notes bear interest at 4% per annum and were due on December 31, 2018. One of these notes was paid in full in June 2019 (see below), and the other note was extended to December 31, 2021. The notes payable had an unpaid balance of $167,393 and $167,393 as of December 31, 2020 and 2019, respectively.
The Company borrowed $0 and $4,200 from stockholders during the years ended December 31, 2020 and 2019, respectively.
On June 6, 2019, the president of the Company assumed the debt of the former chief financial officer’s note totaling $29,273, of which $25,100 was principal and $4,173 was accrued interest. The former chief financial officer’s note was paid in full by the president and was added to his note balance.
The Company recorded interest expense of $6,696 and $6,583 for the years ended December 31, 2020 and 2019, respectively, for these notes payable. Accrued interest related to these notes payable were $31,668 and $24,972 as of December 31, 2020 and 2019, respectively.
NOTE 7. NOTES PAYABLE - OTHER
On December 1, 2018 the Company issued a grid note payable to a third party for $13,500 which was used for audit and legal fees. The note bears interest at 10% per annum and is due on December 31, 2019. This note has been extended to December 31, 2020. Through December 31, 2020, the Company borrowed an additional $37,255 relating to this note payable. On November 20, 2020, the Company received a notice of forbearance from the holder of this grid promissory note and reached an agreement with the holder whereby in consideration of the holder’s agreement to forbear from exercising his rights under the grid promissory note and forgiving all accrued interest to date of $5,920, the Company agreed to issue 100,000 shares of the Company’s common stock, extend the maturity date of the grid promissory note to December 31, 2022, and add to the grid promissory note the ability to convert into the Company’s common stock for all balances due now and in the future, if decided. The conversion rate will be $0.001 per share. As such, this note is deemed a convertible note and has been reclassified as such.
On June 1, 2019, the Company issued a grid note payable to a third party for $10,118 which was used for audit and filing fees. The note bears interest at 10% per annum and is due on December 31, 2019. This note has been extended to December 31, 2020. Through December 31, 2020, the Company borrowed an additional $32,600 relating to this note payable. On November 20, 2020, the Company received a notice of forbearance from the holder of this grid promissory note and reached an agreement with the holder whereby in consideration of the holder’s agreement to forbear from exercising his rights under the grid promissory note and forgiving all accrued interest to date of $2,202, the Company agreed to issue 100,000 shares of the Company’s common stock, extend the maturity date of the grid promissory note to December 31, 2022, and add to the grid promissory note the ability to convert into the Company’s common stock for all balances due now and in the future, if decided. The conversion rate will be $0.001 per share. As such, this note is deemed a convertible note and has been reclassified as such.
NOTE 8. COMMITMENTS AND CONTINGENCIES
The Company evaluates contingencies on an ongoing basis and is not currently a party to any legal proceeding that management believes could have a material adverse effect on our results of operations.
NOTE 9. EQUITY
Common Stock
On November 20, 2020, in accordance with a notice of forbearance regarding a grid promissory note issued on December 1, 2018, the Company granted 100,000 shares of common stock to a third party note holder as finance costs, valued at fair market value of $0.06 per share, or $6,000. These share have not been issued as of December 31, 2020 and are included on the statement of stockholders equity as shares to be issued.
On November 20, 2020, in accordance with a notice of forbearance regarding a grid promissory note issued on June 1, 2019, the Company granted 100,000 shares of common stock to a third party note holder as finance costs, valued at fair market value of $0.06 per share, or $6,000. These share have not been issued as of December 31, 2020 and are included on the statement of stockholders equity as shares to be issued.
As of December 31, 2020 and 2019, the Company has 980,000,000 authorized shares of common stock, par value $0.001, of which 257,301,000 and 257,301,000 shares are issued and outstanding, respectively.
NOTE 10. SUBSEQUENT EVENTS
In January 2021, the Company invested $30,000 into the development of a gaming app for mobile products. The app is currently live on all Apple iStores.
On March 3, 2021 the Company created two new subsidiaries, Empire Mobile Apps, Inc. and Empire IP, Inc. The Company plans to use these subsidiaries for services with mobile applications.
On March 24, 2021 a note holder converted $12,500 of principal from their convertible note into 12,500,000 shares of common stock at a rate of $0.001 per share in accordance with the terms of their convertible note.
Management has evaluated all transactions and events after the balance sheet date through the date on which these financials were issued and has determined that no additional disclosures are required.

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ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS
Item 9: Changes in and Disagreements with Accountants on Accounting and Financial Disclosure
There have been no changes in or disagreements with our certified public accountants on accounting matters or financial disclosure.

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ITEM 9A. CONTROLS AND PROCEDURES
Item 9A: Controls and Procedures
Evaluation of Disclosure Controls and Procedures
(a) We maintain disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) of the Securities Exchange Act of 1934) that are designed to provide reasonable assurance that information required to be disclosed in our filings and submissions under the Securities Exchange Act of 1934 is recorded, processed, summarized and reported within the periods specified in the rules and forms of the SEC and that such information is accumulated and communicated to our management, including our principal executive officer and Chief Financial Officer, as appropriate, to allow timely decisions regarding required disclosure.
We completed an evaluation under the supervision and with participation of our management, including our principal executive officer and Chief Financial Officer, of the effectiveness of the design and operation of our disclosure controls and procedures as of the end of the period covered by this report. Based on this evaluation, our principal executive officer and Chief Financial Officer have concluded that as of December 31, 2020, such disclosure controls and procedures were not effective to provide the reasonable assurance described above.
(b) There have not been any changes in our internal control over financial reporting (as defined in Rules 13a-15(f) and 15d- 15(f) of the Securities Exchange Act of 1934) during the period covered by this report that have materially affected or are reasonably likely to materially affect our internal control over financial reporting.
Management’s Report on Internal Control over Financial Reporting
Our management is responsible for establishing and maintaining adequate internal control over financial reporting and for its assessment of the effectiveness of internal control over financial reporting. Internal control over financial reporting, as defined in Exchange Act Rule 13a-15(f), is a process designed by, or under the supervision of, our principal executive and principal financial officers and effected by our Board of Directors, management and other personnel, 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 and includes those policies and procedures that:
● Pertain to the maintenance of records that in reasonable detail accurately and fairly reflect the transactions and dispositions of our assets;
● Provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that our receipts and expenditures are being made only in accordance with authorizations of our management and directors; and
● Provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of our assets that could have a material effect on the financial statements.
Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate. All internal control systems, no matter how well designed, have inherent limitations. Therefore, even those systems determined to be effective can provide only reasonable assurance with respect to financial statement preparation and presentation.
Our management has conducted, with the participation of our CEO and CFO, an assessment, including testing of the effectiveness, of our internal control over financial reporting as of December 31, 2020. Management’s assessment of internal control over financial reporting was conducted using the criteria set forth in Internal Control over Financial Reporting - Guidance for Smaller Public Companies issued by the Committee of Sponsoring Organizations of the Treadway Commission (“COSO”). Based on such evaluation, management identified deficiencies that were determined to be a material weakness.
A material weakness is a deficiency, or a 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. Because of the material weakness described below, management concluded that our internal control over financial reporting was not effective as of December 31, 2020.
The specific material weakness identified by the Company’s management as of December 31, 2020 is described as follows:
● The Company did not have sufficient and skilled accounting personnel with an appropriate level of technical accounting knowledge and experience in the application of accounting principles generally accepted in the United States of America commensurate with the Company’s financial reporting requirements, which resulted in a number of internal control deficiencies that were identified as being significant. The Company’s management determined that the number and nature of these significant deficiencies, when aggregated, constituted a material weakness.
● The Company lacks qualified resources to perform the internal audit functions properly. In addition, the scope and effectiveness of the Company’s internal audit function are yet to be developed.
● We currently do not have an audit committee.
Changes in Internal Control over Financial Reporting
There were no changes in our internal control over financial reporting during the most recent fiscal quarter ended December 31, 2020 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

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ITEM 9B. OTHER INFORMATION
Item 9B. Other Information.
None.
PART III

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ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE
Item 10: Directors, Executive Officers and Corporate Governance
Identification of Officers and Directors
The current executive officers, key employees and directors of Empire Global Gaming, Inc. are as follows:
Name
Age
Position
Director Since
A. Stone Douglass
Chief Executive Officer, Director & Interim CFO
December
Nicholas Sorge, Sr.
President & Director
May
A. Stone Douglass has over 40 years’ experience as a CEO, Chairman and CFO of many private and public companies, including most recently Sealand Natural Resources, Inc., a producer of birch water and other alternative beverages, and P5 Systems, Inc., an on-line advertising and data company focusing on the cannabis space. Through his significant experience working with small and large companies, Mr. Douglass has an extensive understanding of executive management and project financing. Mr. Douglass has also been involved in numerous business merger and acquisition transactions. Mr. Douglass has held executive upper management and Director positions with companies such as Spy Optics, RedEnvelope, Vison America, and Piper Aircraft. Mr. Douglass graduated with a degree in Business from Fairleigh Dickinson University in 1970.
Nicholas Sorge, Sr. is the founder and current President and a Director of Empire Global Gaming, Inc. and has been since his appointment to the Board of Directors on May 11, 2010. He personally created a revolutionary new system for roulette which led him to obtain U.S. Patents pertaining to roulette and other games. He has licensed Empire Global Gaming, Inc. as the exclusive licensee for four of his patents covering fourteen roulette games. For the past 28 years Mr. Sorge has served Pallets R Us, Inc. of Bellport, New York, as its President. Pallets R Us, Inc. is an industrial pallet manufacturer servicing the tri-state area of New York, New Jersey, Connecticut and Pennsylvania since 1984.
No Involvement in Certain Legal Proceedings
During the past ten years, none of our executive officers/directors have been involved in any of the following:
1. A petition under the Federal bankruptcy laws or any state insolvency law was filed by or against, or a receiver, fiscal agent or similar officer was appointed by a court for the business or property of any officer or director, or any partnership in which any officer or director was a general partner at or within two years before the time of such filing, or any corporation or business association of which any officer or director was an executive officer at or within two years before the time of such filing;
2. No officer or director was convicted in a criminal proceeding or is a named subject of a pending criminal proceeding (excluding traffic violations and other minor offenses);
3. No officer or director was the subject of any order, judgment, or decree, not subsequently reversed, suspended or vacated, of any court of competent jurisdiction, permanently or temporarily enjoining him from, or otherwise limiting, the following activities:
i. Acting as a futures commission merchant, introducing broker, commodity trading advisor, commodity pool operator, floor broker, leverage transaction merchant, any other person regulated by the Commodity Futures Trading Commission, or an associated person of any of the foregoing, or as an investment adviser, underwriter, broker or dealer in securities, or as an affiliated person, director or employee of any investment Company, bank, savings and loan association or insurance Company, or engaging in or continuing any conduct or practice in connection with such activity;
ii. Engaging in any type of business practice; or
iii. Engaging in any activity in connection with the purchase or sale of any security or commodity or in connection with any violation of Federal or State securities laws or Federal commodities laws;
4. No officer or director was the subject of any order, judgment or decree, not subsequently reversed, suspended or vacated, of any Federal or State authority barring, suspending or otherwise limiting for more than 60 days the right of such person to engage in any activity described in (3)(i) of this section, or to be associated with persons engaged in any such activity;
5. No officer or director was found by a court of competent jurisdiction in a civil action or by the Securities and Exchange Commission to have violated any Federal or State securities law, and the judgment in such civil action or finding by the Commission has not been subsequently reversed, suspended, or vacated;
6. No officer or director was found by a court of competent jurisdiction in a civil action or by the Commodity Futures Trading Commission to have violated any Federal commodities law, and the judgment in such civil action or finding by the Commodity Futures Trading Commission has not been subsequently reversed, suspended or vacated;
7. No officer or director was the subject of, or a party to, any Federal or State judicial or administrative order, judgment, decree, or finding, not subsequently reversed, suspended or vacated, relating to an alleged violation of:
i. Any Federal or State securities or commodities law or regulation; or
ii. Any law or regulation respecting financial institutions or insurance companies including, but not limited to, a temporary or permanent injunction, order of disgorgement or restitution, civil money penalty or temporary or permanent cease-and-desist order, or removal or prohibition order; or
iii. Any law or regulation prohibiting mail or wire fraud or fraud in connection with any business entity; or
8. No officer or director was the subject of, or a party to, any sanction or order, not subsequently reversed, suspended or vacated, of any self-regulatory organization (as defined in Section 3(a)(26) of the Exchange Act (15 U.S.C. 78c(a)(26))), any registered entity (as defined in Section 1(a)(29) of the Commodity Exchange Act (7 U.S.C. 1(a)(29))), or any equivalent exchange, association, entity or organization that has disciplinary authority over its members or persons associated with a member.
Section 16(A) Beneficial Ownership Reporting Compliance
Section 16(a) of the Exchange Act requires our executive officers, directors and beneficial owner of more than 10% of a registered class of our equity securities to file with the SEC statements of ownership and changes in ownership. The same persons are required to furnish us with copies of all Section 16(a) forms they file. We believe that all of our executive officers, directors and beneficial owner of more than 10% of a registered class of our equity securities complied with the applicable filing requirements during fiscal year 2019.
Code of Ethics
We have not adopted a formal code of ethics statement. The Board of Directors evaluated the business of the Company and the number of employees and determined that since the business is operated by a small number of persons who are also the officers and directors and many of the persons employed by the Company are independent contractors, general rules of fiduciary duty and federal and state criminal, business conduct and securities laws are adequate ethical guidelines.
Committees
Since we do not have an audit or nominating committee comprised of independent directors, the functions that would have been performed by such committees are performed by our directors. The Board of Directors has not established an audit committee and does not have an audit committee financial expert, nor has the Board established a nominating committee. The Board is of the opinion that such committees are not necessary since the Company has only two directors, and to date, such directors have been performing the functions of such committees. Thus, there is a potential conflict of interest in that our directors and officers have the authority to determine issues concerning management compensation, nominations, and audit issues that may affect management decisions. We are not aware of any other conflicts of interest with any of our executive officers or directors.

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ITEM 11. EXECUTIVE COMPENSATION
Item 11: Executive Compensation
The following table sets forth the cash and non-cash compensation paid by the Company to its President and all other executive officers for services rendered to date. No salaries are being paid at the present time. There were no grants of options or SAR grants given to any executive officers during the current fiscal year.
Summary Compensation Table
Name and
principal position Year Salary Bonus Stock
awards Option
awards Non-equity
incentive
plan
compensation Change in
pension value
and
nonqualified
deferred
compensation
earnings All other
compensation Total
(a) (b) (c) (d) (e) (f) (g) (h) (i) (j)
A. Stone Douglass (2) $ 200,000 (1) 0 $ 200,000
Chief Executive Officer 0 0
Nicholas Sorge, Sr. $ 40,000 (1) 0 $ 40,000
President and CFO 2011-2020 0 0
Dolores Marsh $ 1,000 (1) 0 $ 1,000
Chief Financial Officer 2011-2018 0 0
(1) Valuation of the shares granted to executives was based upon the fair value of the shares when granted pursuant to FASB ASC Topic 718. Shares were granted and delivered at the time of the incorporation of the Company and were for services rendered to the Company in the development of the business plan and for services to the Company in the performance of duties as officers and directors of the Company. The shares were valued at $0.001 per share. We have made no provisions for cash compensation to its officers and directors. Management received 241,000,000 shares of common stock as compensation for contributing the business plan to the Company and for services. These 241,000,000 shares have been accepted as full compensation for management’s services for the first year of operation. The amounts listed in the Stock Awards column above have been calculated based upon the aggregate grant date value computed in accordance with FASB ASC Topic 718.
(2) The shares awarded to A. Stone Douglass were issued to Perfetto Investment IDF, LLC, of which Mr. Douglass is the general partner.
Employment Contracts
We currently have no employment agreements or compensatory plan or arrangement in effect with our officer/director.
Compensation Arrangements of Services Provided as a Director
We have no arrangements with our directors for compensation regarding service on the board nor has either of our directors received any compensation for service on our board during the last fiscal year.

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ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS
Item 12: Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters
The following table presents certain information regarding beneficial Ownership of Empire Global Gaming, Inc.’s Common Stock as of December 31, 2020, by (i) each person known by the Company to be the beneficial owner of more than 5% of the outstanding shares of Common Stock, (ii) each director of the Company, (iii) each named Executive Officer, and (iv) all directors and executive officers as a group. Unless otherwise indicated, each person in the table has sole voting and investment power as to the shares shown.
Name and Address of Beneficial Owner Number of
Shares
Beneficially
Owned Percentage
of Shares
Beneficially
Owned(1)
A. Stone Douglass(2)
1313 Torrey Pines
LaJolla, CA 92037 200,000,000 69.8 %
Nicholas Sorge, Sr.(3)
7 Susan Ct.
Deer Park, NY 11729 40,000,000 15.55 %
Officers and Directors as a Group 240,000,000 71.6 %
(1) The above table is based on 257,301,000 shares of Common Stock outstanding as of December 31, 2020.
(2) A. Stone Douglass is the Chief Executive Officer of the Company and the general partner of Perfetto Investment LLC.
(3) Nicholas Sorge, Sr. is the President and Director of the Company.
Securities Authorized for Issuance Under Equity Compensation Plans
We presently do not have any equity based or other long-term incentive programs.

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ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS
Item 13. Certain Relationships and Related Transactions, and Director Independence.
Transactions with Management and Others
Since the beginning of the 2012 fiscal year, the following transactions, series of similar transactions, currently proposed transactions, or series of currently proposed similar transactions, to which we were or are to be a party, in which the amount involved exceeded either $120,000 or one percent of the average of our total assets at the year-end of our last two fiscal years, whichever is less, and in which any director or executive officer, or any security holder who is known to us to own of record or beneficially more than five percent of our Common Stock, or any member of the immediate family of any of the foregoing persons is a party is as follows:
Nicholas Sorge, Sr. loaned the Company the sum of $167,393 for monies to pay for various out of pocket expenses and to pay off a loan (see below). The loan was in the form of a note and due on December 31, 2019. This note was extended to December 31, 2021.
Dolores Marsh loaned the Company the sum of $25,100 for monies to pay for various out of pocket expenses. The loan was in the form of a note and due on December 31, 2018. On June 6, 2019, the Nicholas Sorge, Sr. assumed the debt of Dolores Marsh’s note totaling $29,273, of which $25,100 was principal and $4,173 was accrued interest. Dolores Marsh’s note was paid in full by Nicholas Sorge, Sr. and was added to his note balance.
Director Independence
Our common stock is not listed for trading on any national securities exchange, and as such we are not otherwise subject to the requirements of any national securities exchange or an inter-dealer quotation system with respect to the need to have a majority of our directors be independent.
In the absence of such requirements, we have elected to use the definition for “director independence” under the Nasdaq Stock Market’s listing standards, which defines an “independent director” as “a person other than an officer or employee of us or its subsidiaries or any other individual having a relationship, which in the opinion of our Board of Directors, would interfere with the exercise of independent judgment in carrying out the responsibilities of a director.” The definition further provides that, among others, employment of a director by us (or any parent or subsidiary of ours) at any time during the past three years is considered a bar to independence regardless of the determination of our Board of Directors.
Our Board of Directors has determined that neither Mr. Douglass nor Mr. Sorge are independent directors.

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ITEM 14. PRINCIPAL ACCOUNTING FEES AND SERVICES
Item 14. Principal Accounting Fees and Services. Audit Fees
The aggregate fees billed by Prager Metis CPA’s, LLC during the years ended December 31, 2020 and 2019 for professional services for the audit of our financial statements and the review of financial statements included in our Forms 10-Q and SEC filings were $9,000 and $9,000, respectively.
Audit-Related Fees
Prager Metis CPA’s, LLC did not provide and did not bill and it was not paid any fees for, audit-related services in the years ended December 31, 2020 and 2019.
Tax Fees
Prager Metis CPA’s, LLC did not provide, and did not bill and was not paid any fees for, tax compliance, tax advice, and tax planning services for the years ended December 31, 2020 and 2019.
All Other Fees
Prager Metis CPA’s, LLC did not provide, and did not bill and were not paid any fees for, any other services in the fiscal years ended December 31, 2020 and 2019.
Audit Committee Pre-Approval Policies and Procedures
The entire Board of Directors, acting as the Audit Committee shall pre-approve all audit engagement fees and terms and pre- approve any other significant compensation to be paid to the independent registered public accounting firm. No other significant compensation services were performed for us by Prager Metis CPA’s, LLC during 2020 and 2019.
PART IV

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ITEM 15. EXHIBITS, FINANCIAL STATEMENT SCHEDULES
Item 15. Exhibits and Financial Statement Schedules.
Exhibit No.
Description
31.1
Certification of Chief Executive Officer filed pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
31.2
Certification of Chief Financial Officer filed pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
32.1
Certification of Chief Executive Officer furnished pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
32.2
Certification of Principal Financial Officer furnished pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
The following financial information from the Company’s Annual Report on Form 10-K for the year ended December 31, 2018 formatted in XBRL (eXtensible Business Reporting Language): (i) Balance Sheets at December 31, 2020 and December 31, 2019; (ii) Statements of Operations for the years ended December 31, 2020 and 2019; (iii) Statements of Stockholders’ Deficit for the years ended December 31, 2020 and 2019; (iv) Statements of Cash Flows for the years ended December 31, 2020 and 2019; and (v) Notes to Financial Statements, tagged as blocks of text.