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CONVERTIBLE NOTE PAYABLE
9 Months Ended
Sep. 30, 2025
CONVERTIBLE NOTE PAYABLE  
CONVERTIBLE NOTE PAYABLE

 NOTE 3 – CONVERTIBLE NOTE PAYABLE

 

 

 

 

 

September 30,

 

 

December 31,

 

 

 

Expiry Date

 

2025

 

 

2024

 

Convertible Note - July 2023

 

12/31/2027

 

$101,881

 

 

$101,881

 

Convertible Note - September 2023

 

12/31/2027

 

 

9,619

 

 

 

9,619

 

Convertible Note - December 2023

 

12/31/2027

 

 

11,327

 

 

 

11,327

 

Convertible Note - March 31, 2024

 

12/31/2027

 

 

16,040

 

 

 

16,040

 

Convertible Note - June 30, 2024

 

12/31/2027

 

 

15,303

 

 

 

15,303

 

Convertible Note - September 30, 2024

 

12/31/2027

 

 

3,476

 

 

 

3,476

 

Convertible Note - December 31, 2024

 

12/31/2027

 

 

5,674

 

 

 

5,674

 

Convertible Note - March 31, 2025

 

12/31/2027

 

 

9,426

 

 

 

-

 

Convertible Note - June 30, 2025

 

12/31/2027

 

 

12,557

 

 

 

-

 

Convertible Note - September 30, 2025

 

12/31/2027

 

 

5,698

 

 

 

-

 

 

 

 

 

 

191,001

 

 

 

163,320

 

Less: Non-current portion

 

 

 

 

(191,001)

 

 

(163,320)

Current portion

 

 

 

$-

 

 

$-

 

 

 On July 9, 2023, the Company replaced the promissory notes held by a non-affiliate with convertible notes at aggregate principal amount of $119,526. The convertible notes bear interest at 8% per annum, have a maturity date of December 31, 2027 and are convertible at $0.05 per share for the Company common stock.

 

On September 30, 2023, the Company issued a convertible note of $9,619 to an unaffiliated party for payment of operating expenses on behalf of the Company. The convertible notes bear interest at 8% per annum, have a maturity date of December 31, 2027 and are convertible at $0.05 per share for the Company common stock.

 

On December 31, 2023, the Company issued a convertible note of $11,327 to an unaffiliated party for payment of operating expenses on behalf of the Company. The convertible notes bear interest at 8% per annum, have a maturity date of December 31, 2027 and are convertible at $0.05 per share for the Company common stock.

 

On June 30, 2024, the Company issued a convertible note of $16,040 to an unaffiliated party for payment of operating expenses on behalf of the Company. The convertible notes bear interest at 8% per annum, have a maturity date of December 31, 2027 and are convertible at $0.05 per share for the Company common stock.

 

On June 30, 2024, the Company issued a convertible note of $15,303 to an unaffiliated party for payment of operating expenses on behalf of the Company. The convertible notes bear interest at 8% per annum, have a maturity date of December 31, 2027 and are convertible at $0.05 per share for the Company common stock.

 

On September 30, 2024, the Company issued a convertible note of $3,476 to an unaffiliated party for payment of operating expenses on behalf of the Company. The convertible notes bear interest at 8% per annum, have a maturity date of December 31, 2027 and are convertible at $0.05 per share for the Company common stock.

 

On December 31, 2024, the Company issued a convertible note of $5,674 to an unaffiliated party for payment of operating expenses on behalf of the Company. The convertible notes bear interest at 8% per annum, have a maturity date of December 31, 2027 and are convertible at $0.05 per share for the Company common stock.

On March 31, 2025, the Company issued a convertible note of $9,426 to an unaffiliated party for payment of operating expenses on behalf of the Company. The convertible notes bear interest at 8% per annum, have a maturity date of December 31, 2027 and are convertible at $0.05 per share for the Company common stock.

 

On June 30, 2025, the Company issued a convertible note of $12,557 to an unaffiliated party for payment of operating expenses on behalf of the Company. The convertible notes bear interest at 8% per annum, have a maturity date of December 31, 2027 and are convertible at $0.05 per share for the Company common stock.

 

On September 30, 2025, the Company issued a convertible note of $5,698 to an unaffiliated party for payment of operating expenses on behalf of the Company. The convertible notes bear interest at 8% per annum, have a maturity date of December 31, 2027 and are convertible at $0.05 per share for the Company common stock.

 

During the nine months ended September 30, 2024, convertible note principal amount of $17,645 was converted into 352,900 shares of common stock.

 

During the nine months ended September 30, 2025 and 2024, the interest expense was $10,548 and $8,823, respectively.

 

As of September 30, 2025 and December 31, 2024, the convertible notes payable was $191,001 and $163,320 and accrued interest payable was $30,381 and $19,832, respectively.