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Debt
3 Months Ended
Mar. 31, 2026
Debt Disclosure [Abstract]  
Debt

Note 7 — Debt

 

Convertible Note Payable

 

On November 24, 2023, the Company executed a 10% convertible note payable agreement with proceeds totaling $250,000, net of an original issuance discount of $20,000. The note, which was to mature on November 24, 2024, is convertible by the holder at $0.50 per share of common stock for the first six months, then is convertible by the holder at 66% of the lowest traded price of the Company’s common stock for the ten days prior to conversion. The note contains certain default provisions which may increase the balance of the note by up to 150%. On November 22, 2024, the Company executed an extension of this note payable from November 24, 2024 to May 24, 2025. On May 23, 2025, the Company executed an extension of this note payable from May 24, 2025 to December 31, 2025. On March 23, 2026, the Company executed an extension of this note payable from December 31, 2025 to September 30, 2026. During the three months ended March 31 2026, the note holder converted $10,000 principal and $2,318 accrued interest into 876,213 shares of common stock.

 

 

During the three months period ending March 31, 2026, the Company accrued $5,649 interest expense. At the end of the three months period ending March 31, 2026, the accrued interest payable due on this loan is $51,241.