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Convertible Notes Payable (Tables)
12 Months Ended
Dec. 31, 2024
Convertible Notes Payable [Abstract]  
Schedule of Convertible Notes Payable

Convertible notes payable consists of the following:

 

Description  Interest
Rate
   Maturity
date***
  Principal   Accrued
Interest
   Unamortized
debt discount
   December 31,
2024
Amount,
net
   December  31,
2023
Amount,
net
 
Cavalry Fund I LP   
18.00
%*  Matured  $819,371   $17,571   $
-
   $836,942   $909,218 
Mercer Street Global  Opportunity Fund, LLC   
18.00
%*  Matured   991,754    59,259    
-
    1,051,013    1,139,764 
Red Road Holdings Corporation   
29.32
%**  -   
-
    
-
    
-
    
-
    41,771 
    
27.77
%**  -   
-
    
-
    
-
    
-
    18,683 
    
32.04
%**  -   
-
    
-
    
-
    
-
    3,109 
    
24.98
%**  Matured   19,819    266    
-
    20,085    
-
 
    
24.51
%**  March 30, 2025   197,001    16,840    (40,043)   173,798    
-
 
Quick Capital LLC   
11.12
%**  -   
-
    
-
    
-
    
-
    
-
 
    
11.03
%**  Matured   64,171    
-
    
-
    64,171    
-
 
                                  
2023 and 2024 convertible notes   8.00 to 12.00%  Matured to October 22, 2025   2,623,890    287,234    (40,928)   2,870,196    1,591,735 
                                  
Total convertible notes payable          $4,716,006   $381,170   $(80,971)  $5,016,205   $3,704,280 

 

* The Cavalry Fund LLP and Mercer Street Global Opportunity Fund, LLC, notes are accruing interest at the default interest rate of 18% with effect from November 27, 2024, prior to November 27, 2024, interest was accrued at 10% per annum.  
** The Red Road Holdings Corporation and Quick Capital LLC, interest rates are effective interest rates as these convertible notes have a fixed interest charge which is earned on the issuance date, regardless of when payments are made.
  *** All convertible notes payable are technically in default due the default on the outstanding Red Road Holdings Corporation and the Quick Capital LLC convertible notes disclosed below. None of the convertible note payable lenders have formally declared a default to the Company.