Convertible Loans	9 Months Ended
Sep. 30, 2021
Convertible Loans
Convertible Loans	8. Convertible Loans On May 18, 2016, the Company issued a convertible promissory note to CaiE that accrued 10% per annum, in exchange for $50,000, initially due on November 17, 2017. The note was convertible into the Company’s common stock, in whole or in part, at any time prior to maturity at the option of the holder, at $0.20 per share. Since the conversion price was lower than the closing share price on the issuance date, a beneficial conversion feature was recognized as a discount against the debt. The maturity date of the note was extended by amendment, to March 31, 2021, while all other terms of the note remained unchanged. The Company and CaiE agreed to a debt settlement agreement to extinguish these loans and accrued interest by the issuance of common shares. During the three and nine months ended September 30, 2021 and 2020, no discount was amortized as interest expense. Interest expense recognized on this loan was $nil 0 for the three months ended September 30, 2021, compared to $1,250 for the three months ended September 30, 2020. Interest expense recognized on this loan was $1,250 for the nine months ended September 30, 2021, compared to $3,750 for the nine months ended September 30, 2020. As at September 30, 2021, and December 31, 2020, the balance of the note was $nil 0 and $50,000, respectively. On October 12, 2018, the Company issued a convertible note to CaiE that accrued 10% per annum, in exchange for a series of loans that totaled $57,800 initially due on October 11, 2019. The note was convertible into the Company’s common stock, in whole or in part, at any time prior to maturity at the option of the holder at $0.20 per share. Since the conversion price was lower than the closing share price on the issuance date, a beneficial conversion feature was recognized as a discount against the debt. The maturity date of the note was extended by amendment, to March 31, 2021, while all other terms of the note remained unchanged. The Company and CaiE agreed to a debt settlement agreement to extinguish these loans and accrued interest by the issuance of common shares. During the three months ended September 30, 2021 and 2020, $nil 0 and $14,450 of the discount was amortized as interest expense and during the nine months ended September 30, 2021 and 2020, $nil 0 and $43,350 of the discount was amortized as interest expense. Interest expense recognized on this loan was $nil 0 for the three months ended September 30, 2021, compared to $1,445 for the three months ended September 30, 2020. Interest expense recognized on this loan was $1,445 for the nine months ended September 30, 2021, compared to $4,335 for the nine months ended September 30, 2020. As at September 30, 2021 and December 31, 2020, the balance of the note was $nil 0 and $57,800, respectively. On July 23, 2021, CaiE settled a total of $146,712 corresponding to convertible loans of $107,800, and accrued interest on convertible loans of $38,912 by the issuance of 359,333 common shares pursuant to a debt settlement agreement dated April 1, 2021.

Convertible Loans

9 Months Ended

Sep. 30, 2021

8. Convertible Loans

On May 18, 2016, the Company issued a convertible promissory note to CaiE that accrued 10% per annum, in exchange for $50,000, initially due on November 17, 2017. The note was convertible into the Company’s common stock, in whole or in part, at any time prior to maturity at the option of the holder, at $0.20 per share. Since the conversion price was lower than the closing share price on the issuance date, a beneficial conversion feature was recognized as a discount against the debt. The maturity date of the note was extended by amendment, to March 31, 2021, while all other terms of the note remained unchanged. The Company and CaiE agreed to a debt settlement agreement to extinguish these loans and accrued interest by the issuance of common shares. During the three and nine months ended September 30, 2021 and 2020, no discount was amortized as interest expense. Interest expense recognized on this loan was $nil 0 for the three months ended September 30, 2021, compared to $1,250 for the three months ended September 30, 2020. Interest expense recognized on this loan was $1,250 for the nine months ended September 30, 2021, compared to $3,750 for the nine months ended September 30, 2020. As at September 30, 2021, and December 31, 2020, the balance of the note was $nil 0 and $50,000, respectively.

On October 12, 2018, the Company issued a convertible note to CaiE that accrued 10% per annum, in exchange for a series of loans that totaled $57,800 initially due on October 11, 2019. The note was convertible into the Company’s common stock, in whole or in part, at any time prior to maturity at the option of the holder at $0.20 per share. Since the conversion price was lower than the closing share price on the issuance date, a beneficial conversion feature was recognized as a discount against the debt. The maturity date of the note was extended by amendment, to March 31, 2021, while all other terms of the note remained unchanged. The Company and CaiE agreed to a debt settlement agreement to extinguish these loans and accrued interest by the issuance of common shares. During the three months ended September 30, 2021 and 2020, $nil 0 and $14,450 of the discount was amortized as interest expense and during the nine months ended September 30, 2021 and 2020, $nil 0 and $43,350 of the discount was amortized as interest expense. Interest expense recognized on this loan was $nil 0 for the three months ended September 30, 2021, compared to $1,445 for the three months ended September 30, 2020. Interest expense recognized on this loan was $1,445 for the nine months ended September 30, 2021, compared to $4,335 for the nine months ended September 30, 2020. As at September 30, 2021 and December 31, 2020, the balance of the note was $nil 0 and $57,800, respectively.

On July 23, 2021, CaiE settled a total of $146,712 corresponding to convertible loans of $107,800, and accrued interest on convertible loans of $38,912 by the issuance of 359,333 common shares pursuant to a debt settlement agreement dated April 1, 2021.