v3.25.2
Subsequent Events
3 Months Ended
Mar. 31, 2025
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS

NOTE 14 – SUBSEQUENT EVENTS

 

Management has evaluated subsequent events through the date these consolidated financial statements were available to be issued. Based on our evaluation no material events have occurred that require disclosure, except as follows:

 

Financial Matters

 

On May 13,2025, the Company entered into a Senior Secured Convertible Note with a principal amount of $3,333,333 including $333,333 debt discount at a 10% interest rate per annum with maturity date of twelve (12) months after the original issue date of the Convertible Note. The principal amount to be paid in one or more tranches. In addition, the Company entered into a share purchase warrant agreement with the noteholder for warrant shares of 611,111,111 with an exercise price of $0.001 per share for a period of 5 years. In May 2025, the Company obtained a principal amount of $250,000 including $25,000 debt discount.

 

During April and May 2025, the Company issued 116,400,000 shares of common stock in connection with settlement agreement dated March 3,2025 with an investor for partial settlement liquidated damages of $500,000.

 

In June 2025, the Company issued 92,000,000 shares of common stock in connection with settlement agreement dated March 25,2025 with an investor for partial settlement liquidated damages of $210,375.

 

During April and May 2025, the Company issued 178,775,882 shares of common stock for cashless exercise of 6,302 Series B warrants.

 

In May 2025, the Company issued 215,872,894 shares of common stock to two investors for conversion partial principal and accrued interest note payable of $91,365.

 

Legal Matters

 

In April 2025, the Company settled a lawsuit previously filed against the Company by Carstens Allen and Gourley. The Company agreed to pay to Carstens the total sum of $160,000 in 13 payments. Upon signing the settlement, Carstens filed with the courts to dismiss the lawsuit.