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SETTLEMENT LIABILITY
12 Months Ended
Dec. 31, 2025
Settlement Liability  
SETTLEMENT LIABILITY

NOTE 8 – SETTLEMENT LIABILITY

 

On November 3, 2020, the Company entered into a settlement agreement to resolve outstanding obligations totaling $581,876, consisting of principal of $285,206 and accrued interest of $296,670. The settlement amount was non-interest bearing and was to be satisfied through the issuance of unrestricted, freely tradable shares of the Company’s common stock at a conversion price equal to 50% of the average closing market price for the ten trading days preceding each issuance notice. Shares were to be issued in one or more tranches, with each issuance limited to less than 10% of the Company’s then issued and outstanding shares until the settlement amount was satisfied.

 

On March 28, 2024, the settlement agreement, including an outstanding balance of approximately $146,799, was assigned to a non-affiliated third party. On May 6, 2024, the liability was further assigned to another non-affiliated third party.

 

On August 8, 2025, the holder elected to convert the outstanding balance into 1,346,780 shares of the Company’s common stock in full satisfaction of the obligation. As of December 31, 2025 and 2024, the settlement liability had a balance of $0 and $146,799, respectively.