NOTE 15: SUBSEQUENT EVENTS |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Notes | |
| NOTE 15: SUBSEQUENT EVENTS | NOTE 15: SUBSEQUENT EVENTS
On July 1, 2026, the Company issued a 12% convertible promissory note to a third party in the principal amount of $100,000. Interest accrues at 12% per annum and is payable quarterly on each of June 1, September 1, December 1 and March 1, at the holder’s option in cash or in shares of common stock. The note matures on June 30, 2028 and may be prepaid in whole or in part at any time without penalty. At any time on or after July 1, 2027 and prior to maturity, the outstanding principal is convertible at the holder’s option into shares of common stock at a conversion price of $1.00 per share. In connection with the issuance of the note, the Company issued the lender a five-year common stock purchase warrant to purchase up to 100,000 shares of common stock exercisable at $1.00 per share.
On August 24, 2026, the Company issued a 12% convertible promissory note to a third party in the principal amount of $50,000. Interest accrues at 12% per annum and is payable quarterly on each of June 1, September 1, December 1 and March 1, at the holder’s option in cash or in shares of common stock. The note matures on August 23, 2028 and may be prepaid in whole or in part at any time without penalty. At any time on or after July 1, 2027 and prior to maturity, the outstanding principal is convertible at the holder’s option into shares of common stock at a conversion price of $1.00 per share. In connection with the issuance of the note, the Company issued the lender a five-year common stock purchase warrant to purchase up to 50,000 shares of common stock exercisable at $1.00 per share.
On August 24, 2026, the Company issued to Emerging Growth LLC an aggregate of 333,333 shares of common stock in lieu of $120,000 of interest payable through August 31, 2026 pursuant to the terms of the Series B Preferred Stock.
On August 25, 2026, the Company issued 80,000 shares of common stock for services at an aggregate fair value of $28,800.
The Company has evaluated subsequent events through the date these unaudited condensed consolidated financial statements were issued. |