v3.26.1
DEBENTURES (Tables)
12 Months Ended
Dec. 31, 2025
Debt Disclosure [Abstract]  
SCHEDULE OF TRANCHES OF DEBT

The details of each of these seven tranches are summarized in the table below:

 

Description  Date  Face Amount   Original Issue Discount   Gross Proceeds   Conversion Price   Principal Payment Starting Date *  No. of Warrants   Exercise Price   Expiration Date  Transaction Costs 
1st Tranche  06/30/22   14,025,000    10%  $12,750,000    11,100.000   09/01/22   91    12,210.000   12/31/25  $1,634,894 
2nd Tranche  01/17/23   5,076,923    10%   4,615,385    6,200.000   07/01/23   59    6,200.000   12/31/25   325,962 
3rd Tranche  10/18/23   2,750,000    10%   2,500,000    2,358.000   01/01/24   689    2,358.000   04/18/27   31,915 
4th Tranche  11/30/23   2,750,000    10%   2,500,000    810.000   05/01/24   2,207    810.000   05/30/27   30,040 
5th Tranche  02/21/24   1,100,000    10%   1,000,000    192.600   08/01/24   3,712    211.860   08/21/27   50,000 
6th Tranche  04/11/24   550,000    10%   500,000    146.700   10/01/24   2,437    162.000   10/11/27   31,309 
7th Tranche  05/22/24   833,000    10%   750,000    90.000   11/01/24   6,016    99.000   11/22/27   3,154 

 

*-principal payments are due to be made in 25 equal installments.
 
Description  Date  Face Amount   Original Issue Discount   Gross Proceeds   Conversion Price   Principal Payment Starting Date *  No. of Warrants   Exercise Price   Expiration Date  Transaction Costs 
Jan-25 Tranche  01/16/25   7,700,000    10%   7,000,000    23.580   04/01/25   212,256    25.938   07/16/28   290,000 
Mar-25 Tranche  03/21/25   1,320,000    10%   1,188,000    17.910   07/01/25   47,906    17.910   09/21/28   - 
May-25 Tranche  05/21/25   110,000    10%   100,000    17.910   09/01/25   4,889    17.910   11/21/28   - 
Jul-25 Tranche  07/21/25   833,334    10%   750,000    6.741   10/21/25   80,354    6.741   01/21/29   - 
Sep-25 Tranche  09/25/25   550,000    10%   495,000    2.410   12/21/25   148,340    2.650   09/25/29   - 
Oct-25 Tranche  10/24/25   7,700,000    10%   6,930,000    2.410   12/21/25   2,076,763    2.410   04/24/29   - 

 

*-principal payments due to be made in 25 equal installments.
 
SCHEDULE OF OUTSTANDING DEBENTURES

The following table summarizes our outstanding debentures as of the dates indicated:

 

   Maturity  Cash Interest Rate  December 31, 2025   December 31, 2024 
Principal (First Tranche Debentures)  December 2024  5.00% - 8.00%  $25,000   $25,000 
Principal (Second Tranche Debentures)  July 2025  5.00% - 8.00%   25,000    25,000 
Principal (Fourth Tranche Debentures)  June 2026  5.00% - 8.00%   7,767    1,485,714 
Principal (May 2025 Tranche Debentures)  May 2026  5%   86,400    - 
Principal (July 2025 Tranche Debentures)  May 2026  5%   833,333    - 
Principal (September 2025 Tranche Debentures)  July 2026  5%   550,000    - 
Principal (October 2025 Tranche Debentures)  October 2026  5%   7,700,000    - 
Debt issuance costs and discounts         (2,788,455)   (92,505)
Total Debentures (current)        $6,439,045   $1,443,209