Convertible Note

9 Months Ended

Sep. 30, 2022

Convertible Note

Convertible Note

Note 10 – Convertible Note

On September 30, 2022, the Company entered a convertible note agreement for amount of $54,000, with term of six (6) months from the date of receipt of the funds, at interest rate of 2% per annum. At the sole option of the Lender, all or part of unpaid principal then outstanding may be converted into shares of common stock at any time starting from 24 hours after payment at fix conversion price of $0.18 per share.  As of September 30, 2022, following is the summary of funds received from the lender:

	Principal			Interest			September 30.
Payment date	Amount		Maturity date	Rate			2022
8/11/2022	$	18,000	2/11/2023		2	%	$	18,000
9/2/2022	$	17,000	3/2/2023		2	%		17,000
Total Convertible notes							$	35,000
Current portion								(35,000	)
Long -term portion							$	-

During the nine months ended September 30, 2022, the Company recognized $76 interest. As of September 30, 2022, the Company owned principal of $35,000 and accrued interest of $76.