v3.26.1
CONVERTIBLE NOTES PAYABLE
 3 Months Ended
Mar. 31, 2026
Debt Disclosure [Abstract]  
CONVERTIBLE NOTES PAYABLE

NOTE 4 – CONVERTIBLE NOTES PAYABLE

 

The following table summarizes the outstanding balance of convertible note payable, interest and conversion rates as of March 31, 2026 and December 31, 2025, respectively.

        
  

March 31, 2026

(Unaudited)

  

December 31,

2025

 
         
Convertible note payable (Note “G”) to an investor with interest at 10% per annum, convertible at any time into shares of common stock at $0.0006 per share. Note was issued as payment for future fees to be incurred under the related Equity Financing Agreement. Principal and interest due on maturity on October 31, 2026. The note is secured by substantially all the assets of the Company.  $13,942   $13,942 
    13,942    13,942 
Less current portion   (13,942)   (13,942)
Long term portion  $–   $– 

 

July 2020 Equity Financing Arrangement (“Note G”)

 

On October 29, 2025, the noteholder of Note G agreed to extend the maturity date of the Secured Convertible Promissory Note from October 29, 2025 to April 29, 2026, and then further extended to October 31, 2026. All other terms and conditions of the Note G remained the same.

 

The Company recorded interest expense on Note G of $344 and $344 for the three months ended March 31, 2026 and 2025, respectively. Accrued interest payable on Note G was $2,861 and $2,517 as of March 31, 2026 and December 31, 2025, respectively. The principal balance payable of Note G totaled $13,942 as of March 31, 2026 and December 31, 2025, respectively.