Quarterly report pursuant to Section 13 or 15(d)

CONVERTIBLE PROMISSORY DEBENTURES (Tables)

v3.22.2.2
CONVERTIBLE PROMISSORY DEBENTURES (Tables)
 9 Months Ended
Sep. 30, 2022
Debt Disclosure [Abstract]  
SCHEDULE OF CONVERTIBLE NOTES PAYABLE

Convertible notes payable consisted of the following:

 

   

September 30,

2022

    

December 31,

2021

  
             
January 28, 2020 ($457,380) – 0% interest per annum outstanding principal and interest due October 20, 2022 (“Note 1”)   $ 457,380     $ 457,380  
January 28, 2020 ($457,380) – 0% interest per annum outstanding principal and interest due October 20, 2022 (“Note 1”)   $ 457,380     $ 457,380  
June 23, 2020 ($60,500) – 0% interest per annum outstanding principal and interest due October 20, 2022 (“Note 2”)     60,500       60,500  
September 17, 2020 ($199,650) – 0% interest per annum outstanding principal and interest due October 20, 2022. On October 28, 2021, Osher elected to convert $16,714 of the aggregate principal amount of the Note of $199,650, into 42,857 common shares (“Note 3”).     182,936       182,936  
March 23, 2022 ($220,000) – 0% interest per annum outstanding principal and interest due March 23, 2023 (“Note 4”)     220,000       -  
April 28, 2022 ($110,000) – 0% interest per annum outstanding principal and interest due April 28, 2023 (“Note 5”)     110,000       -  
May 10, 2022 ($110,000) – 0% interest per annum outstanding principal and interest due May 10, 2023 (“Note 6”)     110,000       -  
June 1, 2022 ($55,000) – 0% interest per annum outstanding principal and interest due June 1, 2023 (“Note 7”)     55,000       -  
June 22, 2022 ($82,500) – 0% interest per annum outstanding principal and interest due June 22, 2023 (“Note 8”)     82,500       -  
July 2022 ($341,000) – 0% interest per annum outstanding principal and interest due various dates July 2023 (“Note 9”)     341,000       -  
August 31, 2022 ($110,000) – 0% interest per annum outstanding principal and interest due August 31, 2023 (“Note 10”)     110,000       -  
September 9, 2022 ($82,500) – 0% interest per annum outstanding principal and interest due September 9, 2023 (“Note 11”)     82,500       -  
September 20, 2022 ($110,000) – 0% interest per annum outstanding principal and interest due September 20, 2023 (“Note 12”)     110,000       -  
                 
Total convertible notes payable     1,921,816       700,816  
Original issue discount     (78,739 )     (53,614 )
Debt discount     (327,634 )     -  
                 
Total convertible notes payable   $ 1,515,443     $ 647,202  
SCHEDULE OF PRINCIPAL PAYMENTS DUE ON CONVERTIBLE PROMISSORY DEBENTURES

Principal payments on convertible promissory debentures are due as follows:

 

       1  
Year ending December 31,      
2022   $ 700,816  
2023     1,221,000  
 Long-Term Debt   $ 1,921,816  

SCHEDULE OF CHANGES IN CONVERTIBLE NOTES

Changes in convertible notes were as follows:

 

    Note 1     Note 2     Note 3     Note 4     Note 5     Note 6     Note 7     Note 8     Note 9     Note 10     Note 11     Note 12     Totals  
Convertible notes payable as of January 1, 2021   $ 385,000     $ 50,000     $ 181,500     $ -     $ -     $ -     $ -     $ -     $ -     $ -     $ -     $ -     $ 616,500  
Extension of convertible note payable     72,380       10,500       18,150       -       -       -       -       -       -       -       -       -       101,030  
Exchange of convertible note payable for common stock     -       -       (16,714 )     -       -       -       -       -       -       -       -       -       (16,714 )
Convertible notes payable, net, as of December 31, 2021     457,380       60,500       182,936       -       -       -       -       -       -       -       -       -       700,816  
                                                                                                         
Convertible notes payable issued in 2022     -       -       -       220,000       110,000       110,000       55,000       82,500       341,000       110,000       82,500       110,000       1,221,000  
Convertible notes payable as of September 30, 2022   $ 457,380     $ 60,500     $ 182,936     $ 220,000     $ 110,000     $ 110,000     $ 55,000     $ 82,500     $ 341,000     $ 110,000     $ 82,500     $ 110,000     $ 1,921,816  

SCHEDULE OF CHANGES IN NOTE DISCOUNTS

Changes in note discounts were as follows:

 

    Note 1     Note 2     Note 3     Note 4     Note 5     Note 6     Note 7     Note 8     Note 9     Note 10     Note 11     Note 12     Totals  
Note discounts as of January 1, 2020   $ 73,418     $ 5,830     $ 18,584     $ -     $ -     $ -     $ -     $ -     $ -     $ -     $ -     $ -     $ 97,832  
Note discounts in conjunction with extension of convertible note     41,580       5,500       18,150       -       -       -       -       -       -       -       -       -       65,230  
2021 accretion of note discounts     (80,822 )     (6,809 )     (21,817 )     -       -       -       -       -       -       -       -       -       (109,448 )
Note discounts as of December 31, 2021     34,176       4,521       14,917       -       -       -       -       -       -       -       -       -       53,614  
                                                                                                         
Note discounts issued in conjunction with debt     -       -       -       113,418       44,786       44,787       22,794       34,861       140,289       64,104       62,370       72,730       600,139  
2022 accretion of note discounts     (31,100 )     (4,113 )     (13,575 )     (59,350 )     (19,019 )     (17,547 )     (7,556 )     (9,550 )     (35,360 )     (16,158 )     (15,720 )     (18,332 )     (247,380 )
Note discounts as of September 30, 2022   $ 3,076     $ 408     $ 1,342     $ 54,068     $ 25,767     $ 27,240     $ 15,238     $ 25,311     $ 104,929     $ 47,946     $ 46,650     $ 54,398     $ 406,373  
                                                                                                         
Convertible notes payable, net, as of December 31, 2021   $ 423,204     $ 55,979     $ 168,019     $ -     $ -     $ -     $ -     $ -     $ -     $ -     $ -     $ -     $ 647,202  
Convertible notes payable, net, as of September 30, 2022   $ 454,304     $ 60,092     $ 181,594     $ 165,932     $ 84,233     $ 82,760     $ 39,762     $ 57,189     $ 236,071     $ 62,054     $ 35,850     $ 55,602     $ 1,515,443  
                                                                                                         
2021 Effective interest rate     11 %     11 %     12 %     -%       -%       -%       -%       -%       -%       -%       -%       -%       -%  
2022 Effective interest rate     7 %     7 %     7 %     27 %     17 %     16 %     14 %     12 %     10 %     15 %     19 %     17 %     13 %