Notes payable

12 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

Notes payable

3. Notes payable

As of December 31, 2023, the Company had $1,183,978 in notes payable to shareholders of record. During the twelve months ended December 31, 2023 and December 31, 2022, the Company issued $487,500 and $315,000, respectively in new promissory notes.

Notes Payable at December 31, 2023 and 2022:

	December 31, 2023		December 31, 2022
Promissory note issued in the first quarter of 2019. The note accrues interest at 6% and matured in February 2020. This note is in default.	$	231,478	$	231,478
Promissory note issued in 2019 for the settlement of debt in the same amount and matured in 2021. Lender earns interest at 15%. This note was modified in November 2022, extending maturity to September 2023. This note is in default.		150,000		150,000
Promissory note issued in 2022 and matured in July 2023. The lender earns interest at 6%. This note is in default.		65,000		65,000
Promissory note issued in 2022 and matured in July 2023. The lender earns interest at 6%. The holder of the note is a former Director and the former Chief Executive Officer of the Company. This note is in default.		200,000		200,000
Promissory note issued in 2022 and matured in December 2023. The lender earns interest at 7.75%. This note is in default.		50,000		50,000
Promissory note issued in March 2023 and matured in May 2023. The lender earns interest at 8%. This note was issued to H. Louis Salomonsky, a Director of the Company. This note is in default.		100,000		-
Promissory note issued in March 2023 and matured in June 2023. The lender earns interest at 8%. This note is in default.		50,000		-
Promissory note issued in April 2023 and matured in May 2023. The lender earns interest at 18%. This note is in default.		250,000		-
Promissory note issued in June 2023 and matures in June 2024. The lender earns interest at 8%.		15,000		-
Promissory note issued in July 2023 and matures in July 2025. The lender earns interest at 8.5%. This note was issued to Global Reverb Corporation, a related party of which Noreen Griffin is the sole beneficial owner.		7,500		-
Promissory note issued in November 2023 and matures in August 2024. The lender earns interest at 22.0% and is convertible into shares of common stock.		65,000		-
	$	1,183,978	$	696,478

As of December 31, 2023 and 2022, the Company had accrued $152,315 and $64,455, respectively, in unpaid interest and default penalties.

Gain on Settlement of Debt

During the year ended December 31, 2023, the Company recognized a non-cash loss of $40,000 upon the settlement of certain liabilities. During the year ended December 31, 2022, the Company recognized a non-cash gain of $1,166,418 on the consolidated statements of operations upon the settlement of certain liabilities.