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LOAN RECEIVABLE
3 Months Ended
Mar. 31, 2024
Loan Receivable  
LOAN RECEIVABLE

NOTE 5 – LOAN RECEIVABLE

 

On September 7, 2022, the Company entered into a convertible loan agreement (the “Loan”) with an entity and issued a loan on September 12, 2022 in the amount of EUR 600,000 bearing interest at 7% per annum with a maturity date of March 31, 2023. The loan and interest were repaid in February and March 2023. The Company recorded $11,125 of interest income for the three months ended March 31, 2023 and used the average exchange rate for the conversion of the EUR denominated interest income for the period.