Loss on Convertible Debt

3 Months Ended

Mar. 31, 2025

Loss on Convertible Debt [Abstract]

LOSS ON CONVERTIBLE DEBT

11 LOSS ON CONVERTIBLE DEBT

The loss on convertible debt consists of the following:

	Three months ended March 31, 2025		Three months ended March 31, 2024
Penalty on convertible debt	$	39,229	$	-
Expense on extension of maturity date of convertible debt		-		66,047
Loss on conversion of convertible debt		106,504		-
Loss on anti-dilution price protection adjustment		2,341,480		-
	$	2,487,213	$	66,047

Penalty on convertible debt

Between January 7, 2025 and March 28, 2025, $39,229 of additional conversion penalties on convertible debt conversions were charged to the Company.

Expense on extension of maturity date of convertible debt

On March 14, 2024, the Company extended the maturity date of 11 convertible notes which matured between February 13, 2024 and February 23, 2024 by six months and issued the note holders additional warrants exercisable for 387,673 shares of Common Stock, the modification of the terms and the issue of the new warrants was assessed as a debt extinguishment.

The debt extinguishments resulted in a charge of $66,047 for the three months ended March 31, 2024.

Loss on conversion of convertible debt

Between January 7, 2025 and March 28, 2025, in terms of conversion notices received from 5 convertible note holders, the Company issued 54,807,989 shares of common stock for the conversion of $230,798 of convertible debt at a weighted average conversion price of $0.004211 (conversion prices ranging from $0.0325 to $0.001105), realizing an aggregate loss on conversion of $106,504.

Loss on anti-dilution price protection adjustment

As a result of the conversion of the convertible debt, referred to in the paragraph above, all other outstanding convertible debt of the Company that contain price-based anti-dilution protection had the conversion prices of such notes adjusted to $0.001105 per share (the “Triggering Event”).

The value of the derivative liability related to the anti-dilution price protected convertible debt was evaluated immediately prior to the Triggering Event and immediately after the Triggering Event, resulting in an additional derivative liability and loss on convertible debt of $2,341,480.