XML 38 R29.htm IDEA: XBRL DOCUMENT v3.25.2
Convertible Debt (Tables)
6 Months Ended
Jun. 30, 2025
Convertible Debt [Abstract]  
Schedule of Convertible Notes Payable

Convertible debt payable consists of the following:

 

Description   Interest Rate   Maturity
date***
  Principal   Accrued
Interest
   Unamortized
debt
discount
   June 30,
2025
Amount, net
   December 31,
2024
Amount, net
 
Cavalry Fund I LP   18.00%*  Matured  $819,371   $56,512   $
-
   $875,883   $836,942 
Mercer Street Global 
Opportunity Fund, LLC
   18.00%*  Matured   1,042,701    78,878    
-
    1,121,579    1,051,013 
Red Road Holdings Corporation   24.98%**  Matured   
-
    
-
    
-
    
-
    20,085 
    24.51%**  Matured   
-
    
-
    
-
    
-
    173,798 
Quick Capital LLC   11.03%**  Matured   
-
    
-
    
-
    
-
    64,171 
                                  
2023, 2024 and 2025 convertible debt     8.00 to 12.00%  Matured to April 29, 2026   3,254,752    408,176    (90,198)   3,572,730    2,870,196 
Total convertible debt          $5,116,824   $543,566   $(90,198)  $5,570,192   $5,016,205 

 

* 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 debt is technically in default due to the default on a certain convertible note. None of the convertible debt lenders have formally declared a default to the Company, other than one investor with an aggregate balance outstanding of $18,812.