Quarterly report pursuant to Section 13 or 15(d)

CONVERTIBLE PROMISSORY DEBENTURES (Tables)

v3.24.1.1.u2
CONVERTIBLE PROMISSORY DEBENTURES (Tables)
 3 Months Ended
Mar. 31, 2024
Debt Disclosure [Abstract]  
SCHEDULE OF CONVERTIBLE NOTES PAYABLE

Convertible notes payable consisted of the following:

 

   

March 31,

2024

    

December 31,

2023

  
             
January 28, 2020 ($564,138) – 0% interest per annum outstanding principal and interest due August 30, 2024, as amended (“Note 1”)   $ 564,138     $ 564,138  
January 28, 2020 ($564,138) – 0% interest per annum outstanding principal and interest due August 30, 2024, as amended (“Note 1”)   $ 564,138     $ 564,138  
June 23, 2020 ($74,621) – 0% interest per annum outstanding principal and interest due August 30, 2024, as amended (“Note 2”)     74,621       74,621  
September 17, 2020 ($225,377) – 0% interest per annum outstanding principal and interest due August 30, 2024, as amended (“Note 3”).     225,377       225,377  
March 23, 2022 ($259,685) – 0% interest per annum outstanding principal and interest due August 30, 2024, as amended (“Note 4”)     259,685       259,685  
April 28, 2022 ($127,979) – 0% interest per annum outstanding principal and interest due August 30, 2024, as amended (“Note 5”)     127,979       127,979  
May 10, 2022 ($128,020) – 0% interest per annum outstanding principal and interest due August 30, 2024, as amended (“Note 6”)     128,020       128,020  
June 1, 2022 ($63,302) – 0% interest per annum outstanding principal and interest due August 30, 2024, as amended (“Note 7”)     63,302       63,302  
June 22, 2022 ($94,314) – 0% interest per annum outstanding principal and interest due August 30, 2024, as amended (“Note 8”)     94,314       94,314  
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”)     -       -  
August 31, 2022 ($123,200) – 0% interest per annum outstanding principal and interest due August 30, 2024, as amended (“Note 10”)     123,200       123,200  
September 9, 2022 ($92,400) – 0% interest per annum outstanding principal and interest due August 30, 2024 (“Note 11”)     92,400       92,400  
September 20, 2022 ($123,200) – 0% interest per annum outstanding principal and interest due August 30, 2024, as amended (“Note 12”)     123,200       123,200  
October 20, 2022 ($110,000) – 0% interest per annum outstanding principal and interest due March 31, 2025 (“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       92,400  
November 14, 2022 ($55,000) – 0% interest per annum outstanding principal and interest due March 31, 2025 (“Note 15”)     55,000       55,000  
December 22, 2022 ($110,000) – 0% interest per annum outstanding principal and interest due March 31, 2025 (“Note 16”)     110,000       110,000  
2023 Notes ($264,000) – 0% interest per annum outstanding principal and interest due various dates December 2024. 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       264,000  
January 8, 2024 ($44,000) – 0% interest per annum outstanding principal and interest due January 8, 2025 (“Note 18”)     44,000       110,000  
2024 Notes ($232,936) – 0% interest per annum outstanding principal and interest due various dates January 2025 (“Note 19”)     232,936       -  
                 
Total convertible notes payable     2,784,572       2,507,636  
Original issue discount     (167,612 )     (225,835 )
Beneficial conversion feature     (12,756 )     (22,013 )
Debt discount     (127,374 )     (49,489 )
                 
Total convertible notes payable   $ 2,476,830     $ 2,210,299  
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  
2025     276,936  
Long-Term Debt   $ 2,784,572  
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     Note 18     Note 19     Other     Totals  
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  
                                                                                                                                                                       
                                                                                                                                                                         
Convertible notes payable issued in 2024     -       -       -       -       -       -       -       -       -       -       -       -       -       -       -       -       -       44,000       232,936       -       276,936  
                                                                                                                                                                         
Conversion of debt for common stock     -       -       -       -       -       -       -       -       -       -       -       -       -       -       -       -       -       -       -       -       -  
Convertible notes payable as of March 31, 2024   $ 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     $ 44,000     $ 232,936     $ -     $ 2,784,572  
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     Note 18     Note 19     Other     Totals  
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  
                                                                                                                                                                         
Note discounts issued in conjunction with debt in 2024     -       -       -       -       -       -       -       -       -       -       -       -       -       -       -       -       -       22,028       114,983       -       137,011  
2024 accretion of note discounts     (26,616 )     (3,521 )     (10,581 )     (9,894 )     (4,483 )     (4,493 )     (2,070 )     (2,945 )     -       (3,291 )     (2,468 )     (3,291 )     -       (2,468 )     -       -       (34,304 )     (5,009 )     (11,172 )     -       (126,606 )
Note discounts as of March 31, 2024   $ 48,553     $ 6,422     $ 19,302     $ 18,048     $ 8,175     $ 8,195     $ 3,776     $ 5,375     $ -     $ 6,003     $ 4,503     $ 6,003     $ -     $ 5,325     $ -     $ -     $ 47,232     $ 17,019     $ 103,811     $ -     $ 307,742  
                                                                                                                                                                         

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

  
                                                                                                                                                                         
Convertible notes payable, net, as of March 31, 2024   $ 515,585     $ 68,199     $ 206,075     $ 241,637     $ 119,804     $ 119,825     $ 59,526     $ 88,939     $ -     $ 117,197     $ 87,897     $ 117,197     $ 110,000     $ 87,075     $ 55,000     $ 110,000     $ 216,768     $ 26,981     $ 129,125     $ -     $ 2,476,830  
                                                                                                                                                                         
2023 Effective interest rate     6 %     6 %     6 %     14 %     15 %     17 %     19 %     21 %     -%       29 %     49 %     52 %     78 %     78 %     86 %     94 %     496 %     -%       -%       -%       81 %
2024 Effective interest rate     5 %     5 %     5 %     4 %     4 %     4 %     3 %     3 %     -%       3 %     3 %     3 %     0 %     3 %     0 %     0 %     13 %     11 %     5 %     -%       5 %