Related Party Transactions

12 Months Ended

Dec. 31, 2023

Related Party Transactions [Abstract]

Related Party Transactions

Note 12 – Related Party Transactions

See Note 8, Notes Payable for details associated with the issuance of convertible notes payable, the Soave Note and the Verstraete Note, to directors of the Company.

As of December 31, 2023 and 2022, the Company was required to issue warrants to purchase an aggregate of 1,956,500 and 1,656,500, respectively, shares of common stock at an exercise price of $0.75 per share to directors of the Company in connection with loans made to the Company in the aggregate amount of $459,000 which required certain penalties in the form of warrants. As a result, the Company had accrued $215,050 and $308,117 associated with the fair value of the obligations as of December 31, 2023 and 2022, respectively, which amount is included in accrued interest – related parties on the consolidated balance sheets.