NOTE 14 – CONVERTIBLE DEBT AND DERIVATIVE LIABILITY |
9 Months Ended |
|---|---|
Sep. 30, 2025 | |
| Debt Disclosure [Abstract] | |
| NOTE 14 – CONVERTIBLE DEBT AND DERIVATIVE LIABILITY | NOTE 14 – CONVERTIBLE DEBT AND DERIVATIVE LIABILITY
On September 18, 2025, the Company issued a $150,000 convertible promissory note to CFI Capital LLC bearing interest at 6% per annum and maturing on September 18, 2026. The note is convertible into shares of the Company’s common stock, beginning six months after the issuance date. The conversion price is variable and is set at a significant discount to the market price, equal to 60% of the Company’s lowest trading price during the 15 trading days preceding the conversion date.
The total gross proceeds from the note were $150,000. However, the Company received net cash proceeds of $119,200, after deducting a $5,000 legal fee paid, $10,800 of the placement agent commission, and $13,500 of the original issue discount.
The Company elected the fair value model to account for the convertible note. The fair value was calculated using the Monte Carlo valuation method. The fair value on issuance day was $158,687.
As of September 30, 2025, fair value was estimated at $159,371. |