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PROMISSORY NOTE

12 Months Ended

Dec. 31, 2023

NOTE 6 – PROMISSORY NOTES

The Company had the following promissory notes payable as at December 31, 2023 and December 31, 2022:

	December 31, 2023		December 31, 2022

Promissory Notes to Auctus Fund	$	340,000	$	340,000
Total Promissory Notes	$	340,000	$	340,000

On March 4, 2021, the Company entered into an agreement with Auctus Fund, LLC to issue a senior secured promissory note of $300,000 to the unrelated party, which bears interest at 12% of the principal amount and default interest rate at 16%. The promissory note matures on March 4, 2022. In conjunction with the promissory note, the Company issued warrants to purchase 150,000,000 shares of common stock, exercisable for five years from issuance at $0.002 per share and returnable warrants to purchase 150,000,000 shares of common stock, exercisable for five years form issuance at $0.002 per share which will be automatically expired in the event that the Company repays the promissory notes prior to its maturity date. (See Note 5) The note was discounted for original issued discount of $35,000 and a derivative on warrants of $265,000 for an aggregate discount of $300,000, which is being amortized over the life of the note using the effective interest method resulting in $51,923 of debt discount amortization for the year ended December 31, 2022. As of December 31, 2023 and December 31, 2022, the note is presented at $300,000, net of debt discount of $0. The note is currently in default.

On December 6, 2021, the Company entered into an agreement with Auctus Fund, LLC to issue a senior secured promissory note of $40,000 to the unrelated party, which bears interest at 12% of the principal amount and default interest rate at 16%. The promissory note matures on December 6, 2022. In conjunction with the promissory note, the Company issued first common stock purchased warrants to purchase 50,000,000 shares of common stock, exercisable for five years from issuance at $0.0008 per share and second common stock purchased warrants to purchase 50,000,000 shares of common stock, exercisable for five years form issuance at $0.0008 per share which will be automatically expired in the event that the Company repays the promissory notes prior to its maturity date. (See Note 5) The note was discounted for original issued discount of $9,000 and a derivative on warrants of $31,000 for an aggregate discount of $40,000, which is being amortized over the life of the note using the effective interest method resulting in $37,260 of debt discount amortization for the year ended December 31, 2022. As of December 31, 2023 and December 31, 2022, the note is presented at $40,000, net of debt discount of $0. The note is currently in default.

During the years ended December 31, 2023 and 2022, interest expense of $52,800 was incurred on the promissory notes. As of December 31, 2023 and December 31, 2022, accrued interest payable on the promissory note was $138,609 and $85,809, respectively.