SUBSEQUENT EVENTS |
6 Months Ended |
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Jun. 30, 2022 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | NOTE 18 - SUBSEQUENT EVENTS
In July 2022, the Company amended its Articles of Incorporation to increase the number of authorized shares of Series B and Series C preferred stock to . Both Series B and C are convertible into shares of the Company’s common stock and have voting rights. Certain actions of the Company require the written consent of at least 75% of the Series C preferred stockholders.
In July and September, the Company issued approximately shares of its Series B and Series C Preferred Stock to payoff convertible notes, stock subscription payable and vendor payables of approximately $7,500,000.
Blue Oar and Steve Rotman has advanced the Company funds totaling $32,911 and $5,000, respectively. The Company has not formalized agreements with repayment terms as of this date.
Other investors have advanced the Company $45,000. The Company has not formalized agreements with repayment terms as of this date.
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