Annual report pursuant to Section 13 and 15(d)

CONVERTIBLE PROMISSORY DEBENTURES (Tables)

v3.24.0.1
CONVERTIBLE PROMISSORY DEBENTURES (Tables)
 12 Months Ended
Dec. 31, 2023
Debt Disclosure [Abstract]  
SCHEDULE OF CONVERTIBLE NOTES PAYABLE

Convertible notes payable consisted of the following:

 

    December 31, 2023     December 31, 2022  
             
January 28, 2020 ($564,138) – 0% interest per annum outstanding principal and interest due August 30, 2024, as amended (“Note 1”)   $ 564,138     $ 457,380  
January 28, 2020 ($564,138) – 0% interest per annum outstanding principal and interest due August 30, 2024, as amended (“Note 1”)   $ 564,138     $ 457,380  
June 23, 2020 ($74,621) – 0% interest per annum outstanding principal and interest due August 30, 2024, as amended (“Note 2”)     74,621       60,500  
September 17, 2020 ($225,377) – 0% interest per annum outstanding principal and interest due August 30, 2024, as amended (“Note 3”).     225,377       182,936  
March 23, 2022 ($259,685) – 0% interest per annum outstanding principal and interest due August 30, 2024, as amended (“Note 4”)     259,685       220,000  
April 28, 2022 ($127,979) – 0% interest per annum outstanding principal and interest due August 30, 2024, as amended (“Note 5”)     127,979       110,000  
May 10, 2022 ($128,020) – 0% interest per annum outstanding principal and interest due August 30, 2024, as amended (“Note 6”)     128,020       110,000  
June 1, 2022 ($63,301) – 0% interest per annum outstanding principal and interest due August 30, 2024, as amended (“Note 7”)     63,302       55,000  
June 22, 2022 ($94,314) – 0% interest per annum outstanding principal and interest due August 30, 2024, as amended (“Note 8”)     94,314       82,500  
July 2022 ($341,000) – 0% interest per annum outstanding principal and interest due various dates July 2023. During fiscal year 2023, the investors elected to convert $341,000 of principal of the Note into 17,050 common shares (“Note 9”)     -       341,000  
August 31, 2022 ($123,200) – 0% interest per annum outstanding principal and interest due August 30, 2024, as amended (“Note 10”)     123,200       110,000  
September 9, 2022 ($92,400) – 0% interest per annum outstanding principal and interest due August 30, 2024 (“Note 11”)     92,400       82,500  
September 20, 2022 ($123,200) – 0% interest per annum outstanding principal and interest due August 30, 2024, as amended (“Note 12”)     123,200       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 ($92,400) – 0% interest per annum outstanding principal and interest due August 30, 2024, as amended (“Note 14”)     92,400       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  
July 2022 ($341,000) – 0% interest per annum outstanding principal and interest due various dates July 2023. During fiscal year 2023, the investors elected to convert $1,179,200 of principal of the Note into 196,534 common shares (“Note 17”)     264,000       -  
                 
Total convertible notes payable     2,507,636       2,279,316  
Original issue discount     (225,835 )     (74,502 )
Beneficial conversion feature     (22,013 )     (175,275 )
Debt discount     (49,489 )     (392,883 )
                 
Total convertible notes payable   $ 2,210,299     $ 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,      
2024   $ 2,507,636  
Long-Term Debt   $ 2,507,636  
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     106,758       14,121       42,441       39,685       17,979       18,020       8,302       11,814       -       13,200       9,900       13,200       -       9,900       -       -       1,443,200       -       1,748,520  
Conversion of debt for common stock     -       -       -       -       -       -       -       -       (341,000 )     -       -       -       -       -       -       -       (1,179,200 )     -       (1,520,200 )
Convertible notes payable as of December 31, 2023   $ 564,138     $ 74,621     $ 225,377     $ 259,685     $ 127,979     $ 128,020     $ 63,302     $ 94,314     $ -     $ 123,200     $ 92,400     $ 123,200     $ 110,000     $ 92,400     $ 55,000     $ 110,000     $ 264,000     $ -     $ 2,507,636  
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     106,758       14,121       42,441       39,685       17,979       18,020       8,302       11,814       -       13,200       9,900       13,200       -       9,900       -       -       1,390,539       -       1,695,859  
2023 accretion of note discounts     (31,589 )     (4,178 )     (12,558 )     (37,223 )     (19,799 )     (21,283 )     (11,949 )     (20,019 )     (69,569 )     (35,694 )     (45,435 )     (64,032 )     (86,329 )     (71,785 )     (47,274 )     (103,463 )     (1,309,003 )     (50,000 )     (2,041,182 )
Note discounts as of December 31, 2023   $ 75,169     $ 9,943     $ 29,883     $ 27,942     $ 12,658     $ 12,688     $ 5,846     $ 8,320     $ -     $ 9,294     $ 6,971     $ 9,294     $ -     $ 7,793     $ -     $ -     $ 81,536     $ -     $ 297,337  
                                                                                                                                                         
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 December 31, 2023   $ 488,969     $ 64,678     $ 195,494     $ 231,743     $ 115,321     $ 115,332     $ 57,456     $ 85,994     $ -     $ 113,906     $ 85,429     $ 113,906     $ 110,000     $ 84,607     $ 55,000     $ 110,000     $ 182,464     $ -     $ 2,210,299  
                                                                                                                                                         
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     6 %     6 %     6 %     14 %     15 %     17 %     19 %     21 %     - %     29 %     49 %     52 %     78 %     78 %     86 %     94 %     496 %     -%       81 %