XML 36 R27.htm IDEA: XBRL DOCUMENT v3.24.3
CONVERTIBLE DEBT (Tables)
9 Months Ended
Sep. 30, 2024
Debt Disclosure [Abstract]  
SCHEDULE OF SENIOR SECURED CONVERTIBLE DEBT

Convertible debt is comprised of the following as of September 30, 2024 and December 31, 2023:

  

  

September 30,

2024

  

December 31,

2023

 
Convertible debt  $1,100,000   $        
Discount on convertible debt   (9,998)    
Total convertible debt  $1,090,002   $ 

 

  

September 30,

2024

  

December 31,

2023

 
Convertible debt - related party   499,021    1,418,922 
Discount on convertible debt - related party   (154,792)   (119,706)
Total convertible debt - related party  $344,229   $1,299,216 
SCHEDULE OF DERIVATIVE LIABILITIES

The following table presents the Company’s fair value hierarchy for its derivative liabilities arising from the issuance of convertible debt measured at fair value on a recurring basis as of September 30, 2024:

 

 SCHEDULE OF DERIVATIVE LIABILITIES

Derivative Liabilities Arising From Issuance of Convertible Debt   Quoted Market Prices for Identical Assets (Level 1)    Significant Other Observable Inputs (Level 2)    Significant Unobservable Inputs (Level 3)    Total 
Balance as of December 31, 2023  $   $   $   $ 
Granted           215,897    215,897 
Loss on change in fair value of derivative liabilities           

321,080

    321,080 
Balance as of September 30, 2024  $   $   $536,977   $536,977 
SCHEDULE OF RANGE OF ASSUMPTIONS USED IN ESTIMATING THE FAIR VALUE OF DERIVATIVE LIABILITIES

   September 30, 2024 
   Actual   Weighted Average 
Risk-free interest rate   4.79% — 4.79%   4.79%
Expected volatility (peer group)   139.5% — 139.5%   139.5%
Remaining term (years)   0.250.25    0.25 
Expected dividend yield   0.00%   0.00%