CONVERTIBLE NOTE PAYABLE |
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| CONVERTIBLE NOTE PAYABLE | NOTE 3 – CONVERTIBLE NOTE PAYABLE
On July 9, 2023, the Company replaced the promissory notes held by a non-affiliate with convertible notes at aggregate principal amount of $119,526. The convertible notes bear interest at 8% per annum, have a maturity date of December 31, 2027 and are convertible at $0.05 per share for the Company common stock.
On September 30, 2023, the Company issued a convertible note of $9,619 to an unaffiliated party for payment of operating expenses on behalf of the Company. The convertible notes bear interest at 8% per annum, have a maturity date of December 31, 2027 and are convertible at $0.05 per share for the Company common stock.
On December 31, 2023, the Company issued a convertible note of $11,327 to an unaffiliated party for payment of operating expenses on behalf of the Company. The convertible notes bear interest at 8% per annum, have a maturity date of December 31, 2027 and are convertible at $0.05 per share for the Company common stock.
On March 31, 2024, the Company issued a convertible note of $16,040 to an unaffiliated party for payment of operating expenses on behalf of the Company. The convertible notes bear interest at 8% per annum, have a maturity date of December 31, 2027 and are convertible at $0.05 per share for the Company common stock.
On June 30, 2024, the Company issued a convertible note of $15,303 to an unaffiliated party for payment of operating expenses on behalf of the Company. The convertible notes bear interest at 8% per annum, have a maturity date of December 31, 2027 and are convertible at $0.05 per share for the Company common stock.
On September 30, 2024, the Company issued a convertible note of $3,476 to an unaffiliated party for payment of operating expenses on behalf of the Company. The convertible notes bear interest at 8% per annum, have a maturity date of December 31, 2027 and are convertible at $0.05 per share for the Company common stock.
On December 31, 2024, the Company issued a convertible note of $5,674 to an unaffiliated party for payment of operating expenses on behalf of the Company. The convertible notes bear interest at 8% per annum, have a maturity date of December 31, 2027 and are convertible at $0.05 per share for the Company common stock.
On March 31, 2025, the Company issued a convertible note of $9,426 to an unaffiliated party for payment of operating expenses on behalf of the Company. The convertible notes bear interest at 8% per annum, have a maturity date of December 31, 2027 and are convertible at $0.05 per share for the Company common stock.
During the three months ended March 31, 2025, convertible note principal amount of $17,645 was converted into 352,900 shares of common stock.
During the three months ended March 31, 2025 and 2024, the interest expense was $3,267 and $2,863, respectively.
As of March 31, 2025 and December 31, 2024, the convertible notes payable was $172,746 and $163,320 and accrued interest payable was $23,099 and $19,832, respectively. |
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