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CONVERTIBLE NOTES
3 Months Ended
Mar. 31, 2022
CONVERTIBLE NOTES  
NOTE 6 -CONVERTIBLE NOTES

NOTE 6 - CONVERTIBLE NOTES

 

During the three months period ended March 31, 2021 the Company issued a one year $ Convertible note to 0985358 BC, Ltd for $ 24,700. The note bears an interest of 10% per annum and is convertible into common stock at $0.005 per share.

 

During the three months ended March 31, 2022, the Company issued one year convertible notes to 0985358 BL Ltd for $2,000. The notes bear interest of 10% per annum and are convertible into common stock at $0.005 per share.

 

As of March 31, 2022 the Company had $379,125 of convertible debt plus accrued interest of $145,460 for total of $524,585.

 

The Company determined the convertible note does not meets the requirements for derivative liability accounting as described in ASC 815. As the shares of the Company do not have a value other than par, are not readily convertible to cash at the date of issuance and are not registered to be traded. Additionally, there is no beneficial conversion feature described in ASC 470 on the date of issuance.