| SCHEDULE OF CONVERTIBLE NOTES PAYABLE |
The
following table summarizes the Company’s convertible notes payable:
SCHEDULE OF CONVERTIBLE NOTES PAYABLE
| | |
Three Months ended
March 31,
2026 | | |
Year
ended December 31,
2025 | |
| Beginning convertible notes principal
balance | |
$ | 4,083,229 | | |
$ | 25,000 | |
| New convertible note issuances | |
| 222,000 | | |
| 600,000 | |
| Convertible notes issued in exchange for promissory
note and accrued interest as a result of loan modification | |
| - | | |
| 3,558,229 | |
| Less: conversion | |
| - | | |
| (100,000 | ) |
| Less: unamortized discounts | |
| (602,636 | ) | |
| (1,334,724 | ) |
| Ending balance, net of discounts | |
$ | 3,702,593 | | |
$ | 2,748,505 | |
|
| SCHEDULE OF DERIVATIVE LIABILITIES AT FAIR VALUE |
A
summary of the activity related to derivative liabilities for the three months ended March 31, 2026, and 2025, is as follows:
SCHEDULE OF DERIVATIVE LIABILITIES AT FAIR VALUE
| | |
Derivative
liabilities associated with
warrants | | |
Derivative
liabilities associated with
convertible notes | | |
Total derivative
liabilities | |
| | |
| | |
| | |
| |
| Balance January 1, 2026 | |
$ | 1,644,738 | | |
$ | 2,548,696 | | |
$ | 4,193,434 | |
| Fair value of issuances | |
| - | | |
| 245,779 | | |
| 245,779 | |
| Change in fair value | |
| (120,823 | ) | |
| 151,096 | | |
| 30,273 | |
| Reclassified
to equity | |
| (1,513,786 | ) | |
| - | | |
| (1,513,786 | ) |
| Balance March 31, 2026 | |
$ | 10,129 | | |
$ | 2,945,571 | | |
$ | 2,955,700 | |
| | |
Derivative
liabilities associated with
warrants | | |
Derivative
liabilities associated with
convertible notes | | |
Total
derivative
liabilities | |
| | |
| | |
| | |
| |
| Balance January 1, 2025 | |
$ | 176,103 | | |
$ | 34,390 | | |
$ | 210,493 | |
| Fair
value of issuances | |
| - | | |
| - | | |
| - | |
| Change
in fair value | |
| (118,783 | ) | |
| 7,024 | | |
| (111,759 | ) |
| Balance March 31, 2025 | |
$ | 57,320 | | |
$ | 41,414 | | |
$ | 98,734 | |
|