SUBSEQUENT EVENTS

12 Months Ended

Dec. 31, 2021

Subsequent Events [Abstract]

Subsequent Events [Text Block]

NOTE 16 – SUBSEQUENT EVENTS

 In January 2022 the Company entered into a promissory note agreement with Coventry Enterprises LLC. The promissory note is in the principal amount of $90,000, including an original issue discount of 16.7%, resulting in net proceeds to the Company of $75,000. The annual interest rate of the promissory note is 10%. Principal and interest is due to Coventry in seven equal monthly payments of $14,142.50 commencing on June 24, 2022 until the promissory note is paid in full no later than January 24, 2023. In the Event of Default, Coventry will have the right to convert the outstanding principal and interest into stock at a price equal to ninety (90) percent of the lowest trading price over a ten (10) day trading period immediately prior to the date of conversion. As part of entering into the promissory note agreement, the Company issued 300,000 restricted shares of common stock under to Coventry Enterprises, LLC.

In March 2022 the Company entered into a loan for $125,000 with Small Business Financial Solutions, LLC. Payment of the loan occurs in 79 equal weekly payments of $2,025.32 on the first day of each week following receipt of the funds.

In March 2022 the Company entered into a consulting agreement with a firm that provide investor relations services. As part of the agreement the Company issued 10,000,000 restricted shares of common stock under to the firm.

In March 2022 the Company entered into a settlement with a contract-mining provider to settle a liability of $200,000. The contract-mining provider mined iron for the Company during part of 2021. As part of the settlement, the Company agreed to pay the contract-mining provider (i) $10,000 per month over ten (10) consecutive months beginning April 2022 and (ii) a grant of 4,444,444 restricted shares of common stock.

In March 2022 the Company issued 20,164,153 shares of common stock upon the conversion of 75,000 shares of Series B Preferred Stock issued in August 2021.