v3.26.1
CONVERTIBLE PROMISSORY NOTE
 9 Months Ended
Sep. 30, 2025
CONVERTIBLE PROMISSORY NOTE  
CONVERTIBLE PROMISSORY NOTE

Note 6 – CONVERTIBLE PROMISSORY NOTE

 

On February 09, 2023, the Company issued a convertible promissory note (the “February 2023 Note”) at a face value of $133,000 to a third party at an interest rate of 12% per annum. Net proceeds received against the promissory note are $116,000 with a discount of $17,000. Maturity date of the note is 12 months from the date of issue with a conversion price of $0.10.

 

 

 

As of September 30, 2025

 

 

 

Face value

 

 

Discount on

Promissory

Note

 

 

Net payable

 

 

Accrued

Interest

 

Convertible Promissory Note

 

$132,000

 

 

$-

 

 

$132,000

 

 

$41,974

 

Total

 

$132,000

 

 

$-

 

 

$132,000

 

 

$41,974

 

 

 

 

As of December 31, 2024

 

 

 

Face value

 

 

Discount on

Promissory

Note

 

 

Net payable

 

 

Accrued

Interest

 

Convertible Promissory Note

 

$132,500

 

 

$-

 

 

$132,500

 

 

$30,111

 

Total

 

$132,500

 

 

$-

 

 

$132,500

 

 

$30,111

 

 

On October 27, 2023, 500,000 shares of common stock were issued at a rate of $0.001 to settle the promissory note value of $500.

 

On April 29, 2025, 500,000 shares of common stock were issued at a rate of $0.001 to settle the promissory note value of $500.

 

Accrued Interest as of September 30, 2025, is $41,974 and December 31, 2024, is $30,111. The promissory note payable is $ 132,000 and $132,500 as of September 30, 2025, and December 31, 2024.

 

Total interest expenses of $11,863 and $11,914 for the nine months ended September 30, 2025, and 2024.