Convertible Notes Payable

12 Months Ended

Sep. 30, 2021

Debt Disclosure [Abstract]

Convertible Notes Payable

Note 5. Convertible Notes Payable

Convertible notes payable consisted of the following at September 30, 2021 and September 30, 2020:

	September 30,  2021		September 30,  2020
Convertible note dated April 13, 2017 in the original principal amount of $20,000, no stated maturity date, bearing interest at 3% per year, convertible into common stock at a rate of $0.01 per share.	$	20,000	$	20,000
Convertible note dated March 30, 2020 in the original principal amount of $28,000, maturing January 15, 2021, bearing interest at 12% per year, convertible beginning September 26, 2020 into common stock at a rate of 65% of the average of the two lowest bid prices during the 15 trading days prior to conversion. In October 2020, principal of $28,000 and accrued interest of $1,680 were converted into 9,275,000 shares of common stock. There was no gain or loss recognized as the conversion occurred in accordance with the original terms of the agreement.		—		28,000
Convertible note dated June 10, 2020 in the original principal amount of $33,000, maturing April 15, 2021, bearing interest at 12% per year, convertible beginning December 8, 2020 into common stock at a rate of 65% of the average of the two lowest bid prices during the 15 trading days prior to conversion. In December 2020, principal of $33,000 and accrued interest of $1,980 were converted into 9,994,286 shares of common stock. There was no gain or loss recognized as the conversion occurred in accordance with the original terms of the agreement.		—		33,000
Convertible note dated July 7, 2020 in the original principal amount of $38,000, maturing May 15, 2021, bearing interest at 12% per year, convertible beginning January 3, 2020 into common stock at a rate of 65% of the average of the two lowest bid prices during the 15 trading days prior to conversion. In January 2021, principal of $38,000 and accrued interest of $2,280 was converted into 10,886,486 shares of common stock. There was no gain or loss recognized as the conversion occurred in accordance with the original terms of the agreement.		—		38,000
Convertible note dated July 30, 2020 in the original principal amount of $33,000, maturing June 15 2021, bearing interest at 12% per year, convertible beginning February 20, 2021 into common stock at a rate of 65% of the average of the two lowest bid prices during the 15 trading days prior to conversion. In February 2021, principal of $33,000 and accrued interest of $1,980 was converted into 4,115,294 shares of common stock. There was no gain or loss recognized as the conversion occurred in accordance with the original terms of the agreement.		—		33,000
Convertible note dated August 24, 2020 in the original principal amount of $38,000, maturing June 30, 2021, bearing interest at 12% per year, convertible beginning January 26, 2021 into common stock at a rate of 65% of the average of the two lowest bid prices during the 15 trading days prior to conversion. In February 2021, principal of $38,000 and accrued interest of $2,280 was converted into 2,549,367 shares of common stock. There was no gain or loss recognized as the conversion occurred in accordance with the original terms of the agreement.		—		38,000
Convertible note dated October 6, 2020 in the original principal amount of $33,000, maturing July 30 2021, bearing interest at 12% per year, convertible beginning April 4, 2021 into common stock at a rate of 65% of the average of the two lowest bid prices during the 15 trading days prior to conversion. In April 2021, principal of $33,000 and accrued interest of $1,980 was converted into 1,193,857 shares of common stock. There was no gain or loss recognized as the conversion occurred in accordance with the original terms of the agreement.		—		—
Convertible note dated January 5, 2021 in the original principal amount of $38,500, maturing January 5, 2022, bearing interest at 12% per year, convertible beginning July 4, 2021 into common stock at a rate of 65% of the average of the two lowest bid prices during the 15 trading days prior to conversion.		—		—
Convertible note dated February 4, 2021 in the original principal amount of $33,500, maturing February 4, 2022, bearing interest at 12% per year, convertible beginning August 3, 2021 into common stock at a rate of 65% of the average of the two lowest bid prices during the 15 trading days prior to conversion.		—		—
Total current convertible notes payable		20,000		190,000
Less: discount on convertible notes payable		—		(34,923	)
Total convertible notes payable, net of discount	$	20,000	$	155,077

All principal along with accrued interest is payable on the maturity date. The notes are convertible into common stock at the option of the holder. The holder of the notes cannot convert the notes into shares of common stock if that conversion would result in the holder owning more than 4.9% of the outstanding stock of the Company.

During the year ended September 30, 2021, the Company recognized $10,000 of deferred finance costs from its new convertible note payable and $225,000 of new discount related to the beneficial conversion features of convertible notes payable. During the year ended September 30, 2021, the Company recognized interest expense on convertible notes of $11,415 and amortization of discount on convertible notes payable of $269,923, respectively. During the year ended September 30, 2020, the Company recognized $18,000 of deferred finance costs and $187,000 of new discount related to the beneficial conversion features of convertible notes payable, and recognized interest expense of $12,778 and amortization of discount on convertible notes payable of $225,282.

As of September 30, 2021 and September 30, 2020, accrued interest on convertible notes payable was $222,287 and $227,372, respectively.

Conversions to Common Stock

During the year ended September 30, 2021, the holders of the convertible notes payable elected to convert principal of $275,000 and accrued interest of $16,502 into 40,817,050 shares of common stock. There was no gain or loss recognized as the conversion occurred in accordance with the original terms of the agreement.

During the year ended September 30, 2020, the holders of the convertible notes payable elected to convert principal and accrued interest of $232,140 into 250,751,059 shares of common stock. There was no gain or loss recognized as the conversion occurred in accordance with the original terms of the agreement.

Advances

As of September 30, 2021 and September 30, 2020, the Company had non-interest bearing advances payable to third parties of $59,650. These advances are payable on demand.