NOTE 11 – CONVERTIBLE NOTES PAYABLE

Convertible notes payable consisted of the following as of March 31, 2026 and December 31, 2025:

These notes contain terms which provide the holder with the option to convert any portion of the outstanding principal and accrued interest amounts into fully paid and non-assessable shares of common stock of the Company at 10% of the lowest trading price during the five trading days period immediately prior to the conversion date. Since these notes contain an embedded conversion feature with a conversion price that could result in the issuance of an indeterminate amount of shares of common stock in the future, such feature has been bifurcated from the notes and accounted for as a derivative liability as described in Note 13, Derivative Liabilities.