Quarterly report pursuant to Section 13 or 15(d)

CONVERTIBLE PROMISSORY DEBENTURES (Tables)

v3.23.2
CONVERTIBLE PROMISSORY DEBENTURES (Tables)
 6 Months Ended
Jun. 30, 2023
Debt Disclosure [Abstract]  
SCHEDULE OF CONVERTIBLE NOTES PAYABLE

Convertible notes payable consisted of the following:

 

 

    June 30, 2023     December 31, 2022  
             
January 28, 2020 ($457,380) – 0% interest per annum outstanding principal and interest due October 20, 2022 (“Note 1”)   $ 457,380     $ 457,380  
January 28, 2020 ($457,380) – 0% interest per annum outstanding principal and interest due October 20, 2022 (“Note 1”)   $ 457,380     $ 457,380  
June 23, 2020 ($60,500) – 0% interest per annum outstanding principal and interest due October 20, 2022 (“Note 2”)     60,500       60,500  
September 17, 2020 ($182,936) – 0% interest per annum outstanding principal and interest due October 20, 2022. On October 28, 2021, Osher elected to convert $16,714 of the aggregate principal amount of the Note of $199,650, into 42,857 common shares (“Note 3”).     182,936       182,936  
March 23, 2022 ($220,000) – 0% interest per annum outstanding principal and interest due March 23, 2023 (“Note 4”)     220,000       220,000  
April 28, 2022 ($110,000) – 0% interest per annum outstanding principal and interest due April 28, 2023 (“Note 5”)     110,000       110,000  
May 10, 2022 ($110,000) – 0% interest per annum outstanding principal and interest due May 10, 2023 (“Note 6”)     110,000       110,000  
June 1, 2022 ($55,000) – 0% interest per annum outstanding principal and interest due June 1, 2023 (“Note 7”)     55,000       55,000  
June 22, 2022 ($82,500) – 0% interest per annum outstanding principal and interest due June 22, 2023 (“Note 8”)     82,500       82,500  
July 2022 ($341,000) – 0% interest per annum outstanding principal and interest due various dates July 2023. On June 2, 2023, an investor elected to convert $16,500 of principal of the Note into 33,000 common shares (“Note 9”)     324,500       341,000  
August 31, 2022 ($110,000) – 0% interest per annum outstanding principal and interest due August 31, 2023 (“Note 10”)     110,000       110,000  
September 9, 2022 ($82,500) – 0% interest per annum outstanding principal and interest due September 9, 2023 (“Note 11”)     82,500       82,500  
September 20, 2022 ($110,000) – 0% interest per annum outstanding principal and interest due September 20, 2023 (“Note 12”)     110,000       110,000  
October 20, 2022 ($110,000) – 0% interest per annum outstanding principal and interest due October 20, 2023 (“Note 13”)     110,000       110,000  
November 9, 2022 ($82,500) – 0% interest per annum outstanding principal and interest due November 9, 2023 (“Note 14”)     82,500       82,500  
November 14, 2022 ($55,000) – 0% interest per annum outstanding principal and interest due November 14, 2023 (“Note 15”)     55,000       55,000  
December 22, 2022 ($110,000) – 0% interest per annum outstanding principal and interest due December 22, 2023 (“Note 16”)     110,000       110,000  
During the three and six months ended June 30, 2023 ($970,200) – 0% interest per annum outstanding principal and interest due on various dates from January 2024 through March 27, 2024. On June 2, 2023, an investor elected to convert $181,500 of principal of the Note into 1,210,000 common shares (“Note 17”)     788,700       -  
                 
Total convertible notes payable     3,051,516       2,279,316  
Original issue discount     (59,926 )     (74,502 )
Beneficial conversion feature     (232,663 )     (175,275 )
Debt discount     (128,646 )     (392,883 )
                 
Total convertible notes payable   $ 2,630,281     $ 1,636,656  
SCHEDULE OF PRINCIPAL PAYMENTS DUE ON CONVERTIBLE PROMISSORY DEBENTURES

Principal payments on convertible promissory debentures are due as follows:

 

 

Year ending December 31,      
2023 (6 months remaining)   $ 2,262,816  
2024   $ 788,700  
Long-Term Debt   $ 3,051,516  
SCHEDULE OF CHANGES IN CONVERTIBLE NOTES

Changes in convertible notes were as follows:

 

 

    Note 1     Note 2     Note 3     Note 4     Note 5     Note 6     Note 7     Note 8     Note 9     Note 10     Note 11     Note 12     Note 13     Note 14     Note 15     Note 16     Note 17     Other     Totals  
Convertible notes payable, net, as of December 31, 2021     457,380       60,500       182,936       -       -       -       -       -       -       -       -       -       -       -       -       -       -             -       700,816  
                                                                                                                                                         
Convertible notes payable issued in 2022     -       -       -       220,000       110,000       110,000       55,000       82,500       341,000       110,000       82,500       110,000       110,000       82,500       55,000       110,000       -       -       1,578,500  
Convertible notes payable as of December 31, 2022   $ 457,380     $ 60,500     $ 182,936     $ 220,000     $ 110,000     $ 110,000     $ 55,000     $ 82,500     $ 341,000     $ 110,000     $ 82,500     $ 110,000     $ 110,000     $ 82,500     $ 55,000     $ 110,000     $ -     $ -     $ 2,279,316  
                                                                                                                                                         
Convertible notes payable issued in 2023     -       -       -       -       -       -       -       -       -       -       -       -       -       -       -       -       970,200       -       970,200  
Conversion of debt for common stock     -       -       -       -       -       -       -       -       (16,500 )     -       -       -       -       -       -       -       (181,500 )     -       (198,000 )
Convertible notes payable as of June 30, 2023   $ 457,380     $ 60,500     $ 182,936     $ 220,000     $ 110,000     $ 110,000     $ 55,000     $ 82,500     $ 324,500     $ 110,000     $ 82,500     $ 110,000     $ 110,000     $ 82,500     $ 55,000     $ 110,000     $ 788,700     $ -     $ 3,051,516  
SCHEDULE OF CHANGES IN NOTE DISCOUNTS

Changes in note discounts were as follows:

 

 

    Note 1     Note 2     Note 3     Note 4     Note 5     Note 6     Note 7     Note 8     Note 9     Note 10     Note 11     Note 12     Note 13     Note 14     Note 15     Note 16     Note 17     Other     Totals  
Note discounts as of December 31, 2021     34,176       4,521       14,917       -       -       -       -       -       -       -       -       -       -       -       -       -       -       -       53,614  
                                                                                                                                                         
Note discounts issued in conjunction with debt in 2022     -       -       -       113,418       44,786       44,787       22,794       34,861       140,289       64,104       82,500       110,000       110,000       82,500       55,000       110,000       -       -       1,015,039  
2022 accretion of note discounts     (34,176 )     (4,521 )     (14,917 )     (87,938 )     (30,308 )     (28,836 )     (13,301 )     (18,336 )     (70,720 )     (32,316 )     (39,994 )     (49,874 )     (23,671 )     (12,822 )     (7,726 )     (6,537 )     -       50,000       (425,993 )
Note discounts as of December 31, 2022   $ -     $ -     $ -     $ 25,480     $ 14,478     $ 15,951     $ 9,493     $ 16,525     $ 69,569     $ 31,788     $ 42,506     $ 60,126     $ 86,329     $ 69,678     $ 47,274     $ 103,463     $ -     $ 50,000     $ 642,660  
                                                                                                                                                         
Note discounts issued in conjunction with debt in 2023     -       -       -       -       -       -       -       -       -       -       -       -       -       -       -       -       970,200       -       970,200  
2023 accretion of note discounts     -       -       -       (25,480 )     (14,478 )     (15,951 )     (9,493 )     (16,525 )     (69,569 )     (31,788 )     (37,131 )     (49,506 )     (49,509 )     (37,132 )     (24,756 )     (49,509 )     (710,798 )     (50,000 )     (1,191,625 )
Note discounts as of June 30, 2023   $ -     $ -     $ -     $ -     $ -     $ -     $ -     $ -     $ -     $ -     $ 5,375     $ 10,620     $ 36,820     $ 32,546     $ 22,518     $ 53,954     $ 259,402     $ -     $ 421,235  
                                                                                                                                                         
Convertible notes payable, net, as of December 31, 2022   $ 457,380     $ 60,500     $ 182,936     $ 194,520     $ 95,522     $ 94,049     $ 45,507     $ 65,975     $ 271,431     $ 78,212     $ 39,994     $ 49,874     $ 23,671     $ 12,822     $ 7,726     $ 6,537     $ -     $ (50,000 )   $ 1,636,656  
Convertible notes payable, net, as of June 30, 2023   $ 457,380     $ 60,500     $ 182,936     $ 220,000     $ 110,000     $ 110,000     $ 55,000     $ 82,500     $ 324,500     $ 110,000     $ 77,125     $ 99,380     $ 73,180     $ 49,954     $ 32,482     $ 56,046     $ 529,298     $ -     $ 2,630,281  
                                                                                                                                                         
2021 Effective interest rate     11 %     11 %     12 %     - %     - %     - %     - %     - %     - %     - %     - %     - %     - %     - %     - %     - %     - %     - %     - %
2022 Effective interest rate     7 %     7 %     8 %     40 %     28 %     26 %     24 %     22 %     21 %     29 %     48 %     45 %     22 %     16 %     14 %     6 %     - %     - %     19 %
2023 Effective interest rate     - %     - %     - %     12 %     13 %     15 %     17 %     20 %     21 %     29 %     45 %     45 %     45 %     45 %     45 %     45 %     90 %     - %     39 %