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SUBSEQUENT EVENTS
12 Months Ended
Dec. 31, 2024
SUBSEQUENT EVENTS  
SUBSEQUENT EVENTS

NOTE 12 - SUBSEQUENT EVENTS

 

On January 1, 2025, the $300,000 Seller Convertible Note (Note 5) automatically converted into 1,935,981 shares of common stock and 24,738,128 pre-funded warrants exercisable at $0.0001 per share.

 

From January to March 2025, the Company issued 8,457,600 shares of common stock for cash totaling $80,000.

 

During January and February 2025, the Company issued 24,109,000 shares of common stock for the conversion of notes payable and accrued interest totaling $115,000.

 

During February 2025, the Company issued 2,297,604 shares of common stock for the settlement of liabilities totaling $20,700.

 

During February 2025, the Company issued 281 shares of Class C Convertible Preferred Stock for cash totaling $281,000.

 

During March 2025, the Company issued 2,135,000 shares of common stock for the conversion of settlement liabilities totaling $11,000.

 

On April 8, 2025, the Company entered into a securities purchase agreement providing for the issuance of an unsecured Convertible Promissory Note in the principal amount of $201,250, with an original issue discount of $26,250.  A one-time interest charge of 14%, or $28,175, was applied on the issuance date to the principal. Accrued, unpaid interest and outstanding principal, subject to adjustment, shall be paid in five (5) payments, the first of which is $114,713 and the final four each in the amount of $28,678. The first payment is due October 15, 2025, with four (4) subsequent payments due each month thereafter. Upon the occurrence and during the continuation of any Event of Default, the note shall become immediately due and payable and the Company shall pay to the holder, in full satisfaction of its obligations hereunder, an amount equal to 150% times any amounts due under the note. Additionally, the note shall be convertible into shares of the Company common stock at a conversion rate equal to 75% multiplied by the lowest closing price for the common stock during the ten (10) trading days prior to the conversion date (representing a discount rate of 25%).