| Schedule of Convertible Debt Payable |
Convertible
debt payable consists of the following:
| Description | | Interest
Rate | | | Maturity
date** | | Principal | | | Accrued
Interest | | | Unamortized
debt discount | | | March 31,
2026
Amount,
net | | | December 31,
2025
Amount,
net | | | Cavalry Fund I LP | | | 18.00 | %* | | Matured | | $ | 819,371 | | | $ | 154,063 | | | $ | - | | | $ | 973,434 | | | $ | 936,563 | | | Mercer Street Global Opportunity Fund, LLC | | | 18.00 | %* | | Matured | | | 1,042,701 | | | | 207,027 | | | | - | | | | 1,249,728 | | | | 1,202,806 | | | 2023, 2024, 2025 and 2026 convertible notes | | | 8.00 to 12.00 | % | | Matured to March 19, 2027 | | | 3,227,019 | | | | 476,348 | | | | (191,847 | ) | | | 3,511,520 | | | | 3,217,255 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Total convertible notes payable | | | | | | | | $ | 5,089, 091 | | | $ | 837,438 | | | $ | (191,847 | ) | | $ | 5,734,682 | | | $ | 5,356,624 | |
| * | The Cavalry Fund LLP and Mercer Street Global Opportunity Fund, LLC, notes are accruing interest at the default interest rate of 18% with effect from November 27, 2024, prior to November 27, 2024, interest was accrued at 10% per annum. | | ** | All convertible notes payable are
technically in default due the default on a 2024 convertible note for which a default was declared. The Company is in the process of obtaining
forbearance agreements from certain convertible note holders. If the Company is unsuccessful the convertible debt would be in default. |
|