| 5. RELATED PARTY TRANSACTIONS |
5. RELATED PARTY TRANSACTIONS
Convertible Notes Related Party
| |
|
|
March 31, 2026 |
|
|
|
December 31, 2025 |
|
| On January 31, 2023, the Company negotiated accrued salaries, vacation, and outstanding convertible notes for its two officers. Under the terms of the agreements, all outstanding notes totaling $4,220,209, accrued salaries of $1,062,000, accrued vacation of $90,193 were converted to promissory notes convertible into common stock with a warrant feature. The convertible promissory notes are unsecured, due five years from issuance, and bear an interest rate of 10%. At the investor’s option until the repayment date, the note may be converted to shares of the Company’s common stock at a fixed price of $0.10 per share along with warrants to purchase one share for every two shares issued at the exercise price of $0.15 per share for three years after the conversion date. | |
|
| | |
| 5,372,402 | | |
| 5,372,402 | |
| | |
| — | | |
| — | |
| Total, net of unamortized discount | |
$ | 5,372,402 | | |
$ | 5,372,402 | |
|