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CONVERTIBLE NOTES PAYABLE AND NOTES PAYABLE
 9 Months Ended
Sep. 30, 2025
Convertible Notes Payable And Notes Payable  
CONVERTIBLE NOTES PAYABLE AND NOTES PAYABLE

NOTE 5 – CONVERTIBLE NOTES PAYABLE AND NOTES PAYABLE

 

Upon inception, the Company evaluates each financial instrument to determine whether it meets the definition of “conventional convertible” debt under ASC 470.

 

Convertible Notes Payable

 

The following tables reflect the convertible notes payable at September 30, 2025 and December 31, 2024: 

 

   Issue Date  Maturity
Date		  September 30,
2025		   December 31,
2024		   Rate  Conversion
Price		 
         Principal
Balance		   Principal
Balance		        
Convertible notes payable - related parties                        
Notes payable, Face Value  12/11/24  06/11/25  $-   $15,000   6.00%  $0.0025 
Balance convertible notes payable – related parties        $-   $15,000         
                         
   Issue Date  Maturity
Date		  September 30,
2025		   December 31,
2024		   Rate  Conversion
Price		 
         Principal
Balance		   Principal
Balance		        
Convertible notes payable                        
Notes payable, Face Value  03/18/24  03/18/25  $-   $50.000   6.00%  $0.0020 
Notes payable, Face Value  03/28/24  03/28/25   -    100,000   6.00%   0.0020 
Notes payable, Face Value  06/24/25  07/24/25   -    -   6.00%   0.0020 
Notes payable, Face Value  07/02/25  10/02/25   75,000    -   6.00%   0.0016 
Total         75,000    150,000         
Less unamortized discounts         -    (10,524)        
Balance convertible notes payable        $75,000   $139,476         
                         
   Issue Date  Maturity
Date		  September 30,
2025		   December 31,
2024		   Rate  Conversion
Price		 
         Principal
Balance		   Principal
Balance		        
Convertible notes payable - in default                        
Notes payable, Face Value   08/28/09  11/01/09  $4,300   $4,300   10.00%  $0.0150 
Notes payable, Face Value  11/20/12  05/20/13   50,000    50,000   6.00%   0.0050 
Notes payable, Face Value  01/19/13  07/30/13   5,000    5,000   6.00%   0.0040 
Notes payable, Face Value  02/11/13  08/11/13   9,000    9,000   6.00%   0.0060 
Notes payable, Face Value  09/25/13  03/25/14   10,000    10,000   6.00%   0.0125 
Notes payable, Face Value  10/04/13  04/04/14   50,000    50,000   6.00%   0.0125 
Notes payable, Face Value  05/15/14  11/15/14   40,000    40,000   6.00%   0.0070 
Notes payable, Face Value  09/18/15  03/18/16   25,000    25,000   6.00%   0.0020 
Notes payable, Face Value  07/19/16  07/19/17   4,000    4,000   6.00%   0.0015 
Notes payable, Face Value  02/06/18  11/07/18   6,000    6,000   6.00%   0.0006 
Notes payable, Face Value  03/06/18  09/06/18   6,000    6,000   6.00%   0.0006 
Notes payable, Face Value  01/03/19  07/03/19   1,000    1,000   6.00%   0.0010 
Notes payable, Face Value  09/04/19  03/04/20   25,000    25,000   6.00%   0.0030 
Notes payable, Face Value  03/18/24  03/18/25   50,000    -   6.00%   0.0020 
Notes payable, Face Value  03/28/24  03/28/25   100,000    -   6.00%   0.0020 
Notes payable, Face Value  06/24/25  07/24/25   15,000    -   6.00%   0.0020 
Balance convertible notes payable - in default        $400,300   $235,300         

 

   Issue Date  Maturity
Date		  September 30,
2025		   December 31,
2024		   Rate  Conversion
Price		 
         Principal
Balance		   Principal
Balance		        
Convertible notes payable - related parties, in default              
Notes payable, Face Value  01/09/09  01/09/10  $10,000   $10,000   10.00%  $0.0150 
Notes payable, Face Value  01/25/10  01/25/11   6,000    6,000   6.00%   0.0050 
Notes payable, Face Value  01/18/12  07/18/12   50,000    50,000   8.00%   0.0040 
Notes payable, Face Value  01/19/13  07/30/13   15,000    15,000   6.00%   0.0040 
Notes payable, Face Value  07/26/13  01/26/14   10,000    10,000   6.00%   0.0100 
Notes payable, Face Value   01/17/14  07/17/14   31,500    31,500   6.00%   0.0060 
Notes payable, Face Value  05/27/14  11/27/14   7,000    7,000   6.00%   0.0070 
Notes payable, Face Value  07/21/14  01/25/15   17,000    17,000   6.00%   0.0080 
Notes payable, Face Value   10/16/14  04/16/15   21,000    21,000   6.00%   0.0045 
Notes payable, Face Value   07/14/15  01/14/16   9,000    9,000   6.00%   0.0030 
Notes payable, Face Value   01/12/16  07/12/16   5,000    5,000   6.00%   0.0020 
Notes payable, Face Value   05/10/16  11/10/16   5,000    5,000   6.00%   0.0005 
Notes payable, Face Value  05/10/16  11/10/16   5,000    5,000   6.00%   0.0005 
Notes payable, Face Value   05/20/16  11/20/16   5,000    5,000   6.00%   0.0005 
Notes payable, Face Value   07/12/16  01/12/17   2,400    2,400   6.00%   0.0006 
Notes payable, Face Value   01/26/17  03/12/17   5,000    5,000   6.00%   0.0005 
Notes payable, Face Value   02/14/17  08/14/17   25,000    25,000   6.00%   0.0008 
Notes payable, Face Value   08/16/17  09/16/17   3,000    3,000   6.00%   0.0008 
Notes payable, Face Value   01/09/18  01/09/19   12,000    12,000   6.00%   0.0006 
Notes payable, Face Value   03/14/18  05/14/18   25,000    25,000   6.00%   0.0007 
Notes payable, Face Value  04/04/18  06/04/18   3,000    3,000   6.00%   0.0007 
Notes payable, Face Value  04/11/18  06/11/18   25,000    25,000   6.00%   0.0007 
Notes payable, Face Value  05/08/18  07/08/18   25,000    25,000   6.00%   0.0007 
Notes payable, Face Value  05/30/18  08/30/18   25,000    25,000   6.00%   0.0007 
Notes payable, Face Value  06/12/18  09/12/18   3,000    3,000   6.00%   0.0007 
Notes payable, Face Value  06/20/18  09/12/18   500    500   6.00%   0.0007 
Notes payable, Face Value  08/27/18  02/27/19   2,000    2,000   6.00%   0.0007 
Notes payable, Face Value  10/02/18  04/02/19   1,000    1,000   6.00%   0.0008 
Notes payable, Face Value   10/23/18  04/23/19   4,200    4,200   6.00%   0.0007 
Notes payable, Face Value   11/07/18  05/07/19   2,000    2,000   6.00%   0.0008 
Notes payable, Face Value  11/14/18  05/14/19   8,000    8,000   6.00%   0.0008 
Notes payable, Face Value   01/08/19  07/08/19   7,000    7,000   6.00%   0.0008 
Notes payable, Face Value  04/25/19  12/23/19   20,000    20,000   6.00%   0.0040 
Notes payable, Face Value   06/07/19  12/07/19   5,100    5,100   6.00%   0.0030 
Notes payable, Face Value  09/17/19  04/17/20   12,000    12,000   6.00%   0.0030 
Notes payable, Face Value  11/12/19  05/12/20   25,000    25,000   6.00%   0.0025 
Notes payable, Face Value  11/26/19  05/26/20   25,200    25,200   6.00%   0.0030 
Notes payable, Face Value  12/03/19  06/03/20   15,000    15,000   6.00%   0.0030 
Notes payable, Face Value   01/07/20  06/20/20   51,000    51,000   6.00%   0.0030 
Notes payable, Face Value  08/06/20  02/06/21   25,200    25,200   6.00%   0.0035 
Notes payable, Face Value  08/06/20  02/06/21   35,000    35,000   6.00%   0.0035 
Notes payable, Face Value  08/14/20  02/14/21   50,400    50,400   6.00%   0.0035 
Notes payable, Face Value  10/13/21  04/13/22   3,000    3,000   2.00%   0.0020 
Notes payable, Face Value  11/10/21  05/10/22   3,000    3,000   2.00%   0.0020 
Notes payable, Face Value  07/06/22  01/06/23   20,000    20,000   6.00%   0.0015 
Notes payable, Face Value  07/29/22  01/28/23   10,000    10,000   6.00%   0.0020 
Notes payable, Face Value  08/04/22  02/04/23   10,000    10,000   6.00%   0.0020 
Notes payable, Face Value  07/24/23  09/24/23   5,000    5,000   1.00%   0.00175 
Notes payable, Face Value  12/11/24  06/11/25   15,000    -   6.00%   0.002 
Balance convertible notes payable - related parties, in default        $704,500   $689,500         
                         
Balance all convertible notes payable        $1,179,800   $1,079,276         

Notes Payable

 

The following tables reflect the notes payable at September 30, 2025 and December 31, 2024:

 

   Issue Date  Maturity
Date		  September 30,
2025		   December 31,
2024		   Rate
           Principal
Balance		   Principal
Balance		    
Notes payable                     
Notes payable, Face Value  11/10/23  05/10/25*   $-   $500,000   6.00%
Notes payable, Face Value  02/28/24  02/28/25     -    350,000   6.00%
Notes payable, Face Value  04/01/24  04/01/25     -    150,000   6.00%
Total           -    1,000,000    
                      
Balance notes payable          $-   $1,000,000    
                      
   Issue Date  Maturity
Date		    September 30,
2025		   December 31,
2024		   Rate
           Principal
Balance		   Principal
Balance		    
Notes payable - in default                     
Notes payable, Face Value  04/27/11  04/27/12    $5,000   $5,000   6.00%
Notes payable, Face Value  12/14/17  12/14/18     2,000    2,000   6.00%
Notes payable, Face Value  11/29/17  11/29/19     105,000    105,000   2.06%
Notes payable, Face Value  11/10/23  05/10/25*    500,000    -   6.00%
Notes payable, Face Value  02/28/24  02/28/25     350,000    -   6.00%
Notes payable, Face Value  04/01/24  04/01/25     150,000    -   6.00%
Balance notes payable – default          $1,112,000   $112,000    
                      
   Issue Date  Maturity
Date		    September 30,
2025		   December 31,
2024		   Rate
           Principal
Balance		   Principal
Balance		    
Notes payable - related parties, in default                     
Notes payable, Face Value  02/24/10  02/24/11    $7,500   $7,500   6.00%
Notes payable, Face Value  10/06/15  11/15/15     10,000    10,000   6.00%
Notes payable, Face Value  02/08/18  04/09/18     1,000    1,000   6.00%
Balance notes payable - related parties, in default          $18,500   $18,500    
                      
Balance all notes payable          $1,130,500   $1,130,500    

 

* The Company and the lender agreed to extend the maturity date of this note, which was originally due on 11/10/24, for six months from the original due date.

 

Terms of Related Party Convertible Notes Payable and Related Party Notes Payable

 

The Company’s related party convertible notes payable and related party notes payable may contain terms that are not indicative of the terms that would normally be agreeable to non related third parties.

 

New Convertible Notes Payable Issued During the Nine Month Periods Ended September 30, 2025 and 2024

 

During the nine month period ended September 30, 2025 the Company entered into the following convertible notes payable agreements:

 

In June of 2025, the Company entered into a convertible promissory note agreement in the amount of $15,000 with an individual. This note pays interest at a rate of 6% per annum and the principal and accrued interest is due on or before July 24, 2025. The note is unsecured and is convertible at the lender’s option into shares of the Company’s common stock at $0.002 per share.

 

In July of 2025, the Company entered into a convertible promissory note agreement in the amount of $75,000 with an individual. This note pays interest at a rate of 6% per annum and the principal and accrued interest is due on or before October 2, 2025. The note is unsecured and is convertible at the lender’s option into shares of the Company’s common stock at $0.0016 per share. During the nine month period ended September 30, 2024 Company the Company entered into the following convertible notes payable and notes payable agreements:

In February 2024, the Company drew down the second round of funding under a promissory note agreement dated November 10, 2023 in the amount of up to $1,000,000. This note pays interest at a rate of 6% per annum. The lender advanced $350,000 in February 2024. Per the note agreement, the $350,000 received in February 2024 was due on February 27, 2025. The aggregate balance of the note payable at September 30, 2025 and December 31, 2024 is $1,000,000. At September 30, 2025 this note was in default.

 

In March of 2024, the Company entered into a convertible promissory note agreement in the amount of $50,000 with an individual. This note pays interest at a rate of 6% per annum and the principal and accrued interest was due on or before March 18, 2025. The lender received 1,000,000 shares of the Company’s restricted common stock as a financing fee for providing the loan. The note is unsecured and is convertible at the lender’s option into shares of the Company’s common stock at $0.002 per share. At September 30, 2025 this note was in default.

 

In March of 2024, the Company entered into a convertible promissory note agreement in the amount of $100,000 with an individual. This note pays interest at a rate of 6% per annum and the principal and accrued interest is due on or before March 28, 2025. The lender received 1,500,000 shares of the Company’s restricted common stock as a financing fee for providing the loan. The note is unsecured and is convertible at the lender’s option into shares of the Company’s common stock at $0.002 per share. At September 30, 2025 this note was in default. 

 

In April 2024, the Company drew down the second round of funding under a promissory note agreement dated November 10, 2023 in the amount of up to $1,000,000. This note pays interest at a rate of 6% per annum. The lender advanced $150,000 in April 2024. Per the note agreement, the $150,000 received in April 2024 was due on April 1, 2025. At September 30, 2025 the note was in default due to non payment of principal and interest. The aggregate balance of the note payable at September 30, 2025 and December 31, 2024 is $1,000,000.

 

Repayments of Notes Payable

 

The Company did not repay any of its notes payable during the nine month period ended September 30, 2025.

 

During the nine month period ended September 30, 2024, the Company repaid a related party shareholder a total of $102,679 of the principal balance and accrued interest of a convertible note payable. The balance of the related party convertible note was $0 at September 30, 2025.

 

Note Conversions

 

Period Ended September 30, 2025.

 

The Company issued 5,352,521 shares of restricted common stock with a total share value of $13,041 to a related party to settle $13,041 of the accrued interest owed on sixteen convertible notes payable.

 

Period Ended September 30, 2024

 

The Company issued 61,104,658 shares of restricted common stock with a total share value of $274,970 to a limited liability company to settle $122,209 of the principal and accrued interest owed on a convertible note payable that was due on October 18, 2023. The balance of the convertible note was $0 at September 30, 2025.

 

The Company issued 5,091,402 shares of restricted common stock with a total share value of $44,804 to a limited related party to settle $12,405 of the accrued interest owed on sixteen convertible notes payable.

 

Shareholder Loan

 

The Company’s CEO provided a loan to the Company in the amount of $1,000 on August 3, 2025. The loan was repaid and the balance owed was $0 at September 30, 2025.

 

At September 30, 2025 and December 31, 2024, the Company had the following loans outstanding to its CEO in the total amount of $5,000 as follows:

 

  - A loan with no due date with a $1,500 remaining balance and an interest rate of 2% and a conversion rate of $0.0005; and

 

  - A loan due on September 9, 2022 with a remaining balance of $3,500, and an interest rate of 1%.

 

Collateralized Promissory Notes

 

Two convertible notes outstanding with related parties, dated January 9, 2009 and January 18, 2012 are collateralized by Company assets.

 

Convertible Notes Payable and Notes Payable, in Default

 

The Company does not have additional sources of debt financing to refinance its convertible notes payable and notes payable that are currently in default. If the Company is unable to obtain additional capital, such lenders may file suit, including suit to foreclose on the assets held as collateral for the obligations arising under the secured notes. If any of the lenders file suit to foreclose on the assets held as collateral, then the Company may be forced to significantly scale back or cease its operations, which would more than likely result in a complete loss of all capital that has been invested in or borrowed by the Company. The fact that the Company is in default of several promissory notes held by various lenders makes investing in the Company or providing any loans to the Company extremely risky with a very high potential for a complete loss of capital. The Company’s convertible notes payable and notes payable in default represent a very significant risk to the viability of the Company.