v3.26.1
Convertible Notes
 6 Months Ended
Jun. 30, 2026
Debt Disclosure [Abstract]  
Convertible Notes

Note 8 – Convertible Notes

 

The components of convertible notes as of June 30, 2026 and December 31, 2025, were as follows:

                       
   Principal      Effective
Interest		   Stated
Interest		   June 30,   December 31, 
Payment date  Amount   Maturity date  Rate   Rate   2026   2025 
February 15, 2025  $575,000   February 15, 2026  510%   10%   $–   $375,000 
Total Convertible notes                   –    375,000 
Less: Unamortized debt discount                   –    (155,679)
                    –    219,321 
Less: Current portion                   –    (219,321)
Long-term portion                  $–   $– 

 

During the three and six months ended June 30, 2026 and 2025, the Company recognized interest expense and amortization of debt discount as follows:

                    
   Three Months Ended   Six months ended 
   June 30,   June 30, 
   2026   2025   2026   2025 
Interest expense  $–   $76,673   $4,726   $136,931 
Amortization of debt discount  $–   $475,166   $155,679   $820,994 

 

As of June 30, 2026 and December 31, 2025, the Company recorded accrued interest of $0 and $32,773, respectively.

  

Conversion

 

In February 2026, seven (7) note holders converted convertible notes issued in February 2025 of $375,000 and accrued interest of $37,500 into 171,878 shares of common stock with a conversion price of $2.40. As a result, the Company settled convertible notes and accrued interest of $412,500, and recorded loss on settlement of debt of $847,366.