CONVERTIBLE NOTE PAYABLES

6 Months Ended

Jun. 30, 2021

Debt Disclosure [Abstract]

CONVERTIBLE NOTE PAYABLES

Note 6 - CONVERTIBLE NOTE PAYABLES

The Company had convertible note payables with three third parties with stated interest rates ranging between 10% and 12% and 22% default interest not including penalties. These notes have a conversion feature such that the Company could not ensure it would have adequate authorized shares to meet all possible conversion demands; accordingly, the conversion option has been treated as a derivative liability in the accompanying interim financial statements. As of June 30, 2021, the Company had the following third-party convertible notes outstanding:

	Lender	Origination		Maturity		Amount		Interest
Note	GS Capital		01/20/21		01/20/22		205,000		10.0	%
Note	PowerUp Lending		04/08/21		04/08/22		103,500		12.0	%
Note	PowerUp Lending		05/10/21		05/10/22		53,750		12.0	%
Note	GS Capital		06/25/21		06/25/22		65,000		10.0	%
Total						$	427,250
less discount							12,230
Net						$	415,020

During the year ended December 31, 2020, third-party lenders converted $809,292 of principal and interest into 2,936,347,316 shares of common stock.

During the six months ended June 30, 2021, third-party lenders converted $563,643 of principal, interest and penalties into 905,435,038 shares of common stock. There were no conversions of third-party debt during the three months ended June 30, 2021.

The variables used for the Black-Scholes model are as listed below:

	June 30, 2021	December 31, 2020
●	Volatility: 253% - 466%	Volatility: 253% - 466%
●	Risk free rate of return: 1.24%- 1.53%	Risk free rate of return: 1.24% - 1.53%
●	Expected term: 1-3 years	Expected term: 1-3 years

The Company amortized a debt discount of $0 and $63,350 respectively, during the six months ended June 30, 2021 and year ended December 31, 2020, respectively.

On October 28, 2020, a third-party lender funded the Company $115,000.00 in a 12% convertible debenture due October 28, 2021. The transaction netted the Company $98,000.00 after original issue discount (OID) of $15,000.00 and placement agent fees of $2,000.00.

On January 20, 2021, a third-party lender funded the Company $205,000 in a 10% convertible debenture due January 20, 2022. The transaction netted the Company $180,000 after a $20,000 original issue discount and $5,000 in legal fees.

On April 8, 2021, a third-party lender funded the Company $103,500 in a 12% convertible debenture due April 8, 2022. The transaction netted the Company $100,000 after $3,500 legal and due diligence fees.

On May 10, 2021, a third-party lender funded the Company $53,750 in a 12% convertible debenture due May 10, 2022. The transaction netted the Company $50,000 after $3,750 legal and due diligence fees.

On June 25, 2021, a third-party lender funded the Company $65,000 in a 10% convertible debenture due June 25, 2022. The transaction netted the Company $60,000 after a $2,000 original issue discount and $3,000 in legal fees.

During the three months ended March 31, 2021 third-party lenders converted $563,643 of principle, interest and penalties into 905,435,038 shares of no-par common stock. During the three months ended June 30, 2021, there were no conversions of third-party debt into common shares.