XML 24 R15.htm IDEA: XBRL DOCUMENT v3.24.2.u1
PROMISSORY NOTES
6 Months Ended
Jun. 30, 2024
Promissory Notes  
PROMISSORY NOTES

NOTE 7 – PROMISSORY NOTES

 

Promissory Notes

 

As of June 30, 2024 and December 31, 2023, promissory notes of $257,195 (principal $186,672 and interest of $70,523) and of $247,862 (principal $186,672 and interest of $61,190), respectively, were outstanding. The promissory notes bears interest of 10% per annum, are unsecured and mature on December 31, 2025.

 

Promissory Notes – Related Party

 

As of June 30, 2024 and December 31, 2023, promissory note – related party of $0 and $0, respectively, were outstanding. The promissory notes – related party bear interest of 10% per annum, are unsecured, mature on December 31, 2025 and are due to 2130555 Ontario Limited, a Company controlled by Nadav Elituv, the Company's Chief Executive Officer. On February 2, 2023, the Company issued common stock to settle promissory note – related party and interest with a carrying value of $85,922.