CONVERTIBLE NOTE PAYABLE – RELATED PARTY

3 Months Ended

Mar. 31, 2024

Debt Disclosure [Abstract]

CONVERTIBLE NOTE PAYABLE – RELATED PARTY

NOTE 5 – CONVERTIBLE NOTE PAYABLE – RELATED PARTY

On October 5, 2022, the Company issued a $50,000, 10% convertible promissory note to Selkirk Global Holdings, LLC, (the “Note”). The Note matures October 5, 2023, has a 10% OID and is convertible into the Company’s common stock at a price equal to 55% of the average closing price of the Company’s common stock during the 20 consecutive trading days prior to the date on which the holder elects to convert all or part of the Note. The Note is being funded through the direct payment of Company expenses. As of March 31, 2024, $46,984 has been used for expenses, plus $4,698 OID. The derivative liability has been calculated on the total funds advanced plus OID.

On April 6, 2023, the Company issued a $50,000, 10% convertible promissory note to Selkirk Global Holdings, LLC, (the “Note”). The Note matures April 5, 2024, has a 10% OID and is convertible into the Company’s common stock at a price equal to 55% of the average closing price of the Company’s common stock during the 20 consecutive trading days prior to the date on which the holder elects to convert all or part of the Note. The Note is being funded through the direct payment of Company expenses. As of March 31, 2024, $24,170 has been used for expenses, plus $1,460 OID. The derivative liability has been calculated on the total funds advanced plus OID.

As of March 31, 2024, the above Notes are disclosed as $77,158, net of debt discount of $154.

As of December 31, 2023, the above Notes are disclosed as $59,188, net of debt discount of $17,430.

As of March 31, 2024, the total due on the above notes for principal and interest is $77,312 and $10,761, respectively.

As of December 31, 2023, the total due on the above notes for principal and interest is $76,618 and $7,555, respectively.

On December 5, 2023, the Company issued a Convertible Exchange Note to John Murphy, for $144,501. The Note is unsecured, non-interest bearing, and matures on December 4, 2024. The note is convertible into shares of common stock at a 50% discount to the lowest trading price for the twenty-five days prior to conversion. On March 8, 2024, the Company repaid $70,000 of the loan. As of March 31, 2024, the note is disclosed as $50,715, net of discount of $23,786. As of December 31, 2023, the note is disclosed as $12,042, net of discount of $132,459.

A summary of the activity of the derivative liability for the notes above is as follows:

Balance at December 31, 2022	$	53,967
Increase to derivative due to new issuances		519,989
Derivative gain due to mark to market adjustment		(280,335	)
Balance at December 31, 2023		293,621
Decrease to derivative due to repayments		(66,769	)
Derivative gain due to mark to market adjustment		(102,878	)
Balance at March 31, 2024	$	123,974

A summary of quantitative information about significant unobservable inputs (Level 3 inputs) used in measuring the Company’s derivative liability that are categorized within Level 3 of the fair value hierarchy is as follows:

Inputs	March 31, 2024			Initial Valuation
Stock price	$	0.003		$	0.0022 - 0.0039
Conversion price	$	0.0003		$	0.0012 - 0.002
Volatility (annual)		314.27% - 357.74	%		186.77% - 500.68	%
Risk-free rate		5.4	%		4.19% - 4.96	%
Dividend rate		–			–
Years to maturity		0.25 - 0.68			1