| SCHEDULE OF CONVERTIBLE NOTES PAYABLE |
The
following table summarizes the Company’s convertible notes payable:
SCHEDULE OF CONVERTIBLE NOTES PAYABLE
| | |
Six
Months ended June
30, 2026 | | |
Year
ended
December 31, 2025 | |
| Beginning convertible notes principal
balance | |
$ | 4,083,229 | | |
$ | 25,000 | |
| New convertible note issuances | |
| 643,111 | | |
| 600,000 | |
| Convertible notes issued in exchange for promissory
note and accrued interest as a result of loan modification | |
| - | | |
| 3,558,229 | |
| Less: conversion | |
| (42,675 | ) | |
| (100,000 | ) |
| Less: unamortized discounts | |
| (751,795 | ) | |
| (1,334,724 | ) |
| Ending balance, net of discounts | |
$ | 3,931,870 | | |
$ | 2,748,505 | |
|
| SCHEDULE OF DERIVATIVE LIABILITIES AT FAIR VALUE |
A
summary of the activity related to derivative liabilities for the six months ended June 30, 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 | |
| - | | |
| 977,549 | | |
| 977,549 | |
| Change in fair value | |
| (123,081 | ) | |
| 6,352,909 | | |
| 6,229,828 | |
| Write off for conversions | |
| - | | |
| (46,701 | ) | |
| (46,701 | ) |
| Reclassified to equity | |
| (1,513,786 | ) | |
| - | | |
| (1,513,786 | ) |
| Balance June 30, 2026 | |
$ | 7,871 | | |
$ | 9,832,453 | | |
$ | 9,840,324 | |
| | |
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 | |
| 400,000 | | |
| - | | |
| 400,000 | |
| Change in fair value | |
| 105,416 | | |
| 12,087 | | |
| 117,503 | |
| Balance June 30, 2025 | |
$ | 681,519 | | |
$ | 46,477 | | |
$ | 727,996 | |
|