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Subsequent Events
3 Months Ended
Mar. 31, 2025
Subsequent Events [Abstract]  
Subsequent Events

Note 17: Subsequent Events

 

Issuance of Restricted Common Stock for Series X Preferred Stock Dividends

 

Subsequent to March 31, 2025, the holders of the Series X preferred stock have earned an additional $4,105 in dividends which is equivalent to 10,303 shares of common stock. As of the date of filing the shares have not yet been issued.

 

Issuance of Restricted Common Stock for the Redemption of Series A Preferred Stock

 

Subsequent to March 31, 2025, the holders of the Series A preferred stock have earned 953,508 shares of common stock with a fair value of $331,584 for the required monthly redemptions. As of the date of filing the shares have not yet been issued.

 

Issuance of Restricted Common Stock for the settlement of outstanding liabilities

 

On April 24, 2025, the Company entered into Obligation Exchange Agreements with two of its creditors, Finnegan and Lindstrom. The agreements call for the cancellation of approximately $300,000 of notes, expenses and other obligations in consideration of the issuance of 75,000 shares of restricted common stock for each of the holders.

 

Issuance of Short Term Notes Payable

 

On May 6, 2025, the Company entered into a short term note payable agreement with one of its investors and received cash proceeds of $25,000. The note is bears interest at 10% per annum and matures 10 days after issuance, May 17, 2025. In the event of default the Company is required to pay 120% of the principal balance.