Quarterly report pursuant to Section 13 or 15(d)

CONVERTIBLE PROMISSORY DEBENTURES (Tables)

v3.23.3
CONVERTIBLE PROMISSORY DEBENTURES (Tables)
 9 Months Ended
Sep. 30, 2023
Debt Disclosure [Abstract]  
SCHEDULE OF CONVERTIBLE NOTES PAYABLE

Convertible notes payable consisted of the following:

 

 

   

September 30, 2023

    

December 31, 2022

  
             
January 28, 2020 ($564,138) – 0% interest per annum outstanding principal and interest due August 30, 2024 (“Note 1”)   $ 564,138     $ 457,380  
January 28, 2020 ($564,138) – 0% interest per annum outstanding principal and interest due August 30, 2024 (“Note 1”)   $ 564,138     $ 457,380  
June 23, 2020 ($74,621) – 0% interest per annum outstanding principal and interest due August 30, 2024 (“Note 2”)     74,621       60,500  
September 17, 2020 ($225,377) – 0% interest per annum outstanding principal and interest due August 30, 2024. 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”).     225,377       182,936  
March 23, 2022 ($259,685) – 0% interest per annum outstanding principal and interest due August 30, 2024 (“Note 4”)     259,685       220,000  
April 28, 2022 ($127,979) – 0% interest per annum outstanding principal and interest due August 30, 2024 (“Note 5”)     127,979       110,000  
May 10, 2022 ($128,020) – 0% interest per annum outstanding principal and interest due August 30, 2024 (“Note 6”)     128,020       110,000  
June 1, 2022 ($63,301) – 0% interest per annum outstanding principal and interest due August 30, 2024 (“Note 7”)     63,301       55,000  
June 22, 2022 ($94,314) – 0% interest per annum outstanding principal and interest due August 30, 2024 (“Note 8”)     94,314       82,500  
July 2022 ($341,000) – 0% interest per annum outstanding principal and interest due July 2023. On June 2, 2023, an investor elected to convert $16,500 of principal of the Note into 33,000 common shares (“Note 9”)     324,500       341,000  
August 31, 2022 ($123,200) – 0% interest per annum outstanding principal and interest due August 30, 2024 (“Note 10”)     123,200       110,000  
September 9, 2022 ($92,400) – 0% interest per annum outstanding principal and interest due August 30, 2024 (“Note 11”)     92,400       82,500  
September 20, 2022 ($123,200) – 0% interest per annum outstanding principal and interest due August 30, 2024 (“Note 12”)     123,200       110,000  
October 20, 2022 ($110,000) – 0% interest per annum outstanding principal and interest due October 20, 2023 (“Note 13”)     110,000       110,000  
November 9, 2022 ($92,400) – 0% interest per annum outstanding principal and interest due August 30, 2024 (“Note 14”)     92,400       82,500  
November 14, 2022 ($55,000) – 0% interest per annum outstanding principal and interest due November 14, 2023 (“Note 15”)     55,000       55,000  
December 22, 2022 ($110,000) – 0% interest per annum outstanding principal and interest due December 22, 2023 (“Note 16”)     110,000       110,000  
During the three and nine months ended September 30, 2023 ($1,399,200) – 0% interest per annum outstanding principal and interest due on various dates from January 2024 through September 1, 2024. On June 2, 2023, an investor elected to convert $181,500 of principal of the Note into 1,210,000 common shares (“Note 17”)     1,217,700       -  
                 
Total convertible notes payable     3,785,835       2,279,316  
Original issue discount     (360,290 )     (74,502 )
Beneficial conversion feature     (191,842 )     (175,275 )
Debt discount     (285,952 )     (392,883 )
                 
Total convertible notes payable   $ 2,947,751     $ 1,636,656  
SCHEDULE OF PRINCIPAL PAYMENTS DUE ON CONVERTIBLE PROMISSORY DEBENTURES

Principal payments on convertible promissory debentures are due as follows:

 

 

Year ending December 31,        
2023 (6 months remaining)   $ 599,500  
2024   $ 3,186,336  
Long-Term Debt   $ 3,785,836  
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     Note 13     Note 14     Note 15     Note 16     Note 17     Other     Totals  
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       110,000       82,500       55,000       110,000       -       -       1,578,500  
Convertible notes payable as of December 31, 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     $ 110,000     $ 82,500     $ 55,000     $ 110,000     $ -     $ -     $ 2,279,316  
                                                                                                                                                         
Convertible notes payable issued in 2023     106,758       14,121       42,441       39,685       17,979       18,020       8,301       11,814       -       13,200       9,900       13,200       -       9,900       -       -       1,399,200       -       1,704,519  
Conversion of debt for common stock     -       -       -       -       -       -       -       -       (16,500 )     -       -       -       -       -       -       -       (181,500 )     -       (198,000 )
Convertible notes payable as of September 30, 2023   $ 564,138     $ 74,621     $ 225,377     $ 259,685     $ 127,979     $ 128,020     $ 63,301     $ 94,314     $ 324,500     $ 123,200     $ 92,400     $ 123,200     $ 110,000     $ 92,400     $ 55,000     $ 110,000     $ 1,217,700     $ -     $ 3,785,835  
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     Note 13     Note 14     Note 15     Note 16     Note 17     Other     Totals  
Note discounts as of December 31, 2021     34,176       4,521       14,917       -       -       -       -       -       -       -       -       -       -       -       -       -       -       -       53,614  
                                                                                                                                                         
Note discounts issued in conjunction with debt in 2022     -       -       -       113,418       44,786       44,787       22,794       34,861       140,289       64,104       82,500       110,000       110,000       82,500       55,000       110,000       -       -       1,015,039  
2022 accretion of note discounts     (34,176 )     (4,521 )     (14,917 )     (87,938 )     (30,308 )     (28,836 )     (13,301 )     (18,336 )     (70,720 )     (32,316 )     (39,994 )     (49,874 )     (23,671 )     (12,822 )     (7,726 )     (6,537 )     -       50,000       (425,993 )
Note discounts as of December 31, 2022   $ -     $ -     $ -     $ 25,480     $ 14,478     $ 15,951     $ 9,493     $ 16,525     $ 69,569     $ 31,788     $ 42,506     $ 60,126     $ 86,329     $ 69,678     $ 47,274     $ 103,463     $ -     $ 50,000     $ 642,660  
                                                                                                                                                         
Note discounts issued in conjunction with debt in 2023     106,758       14,121       42,441       39,685       17,979       18,020       8,301       11,814       -       13,200       9,900       13,200       -       9,900       -       -       1,346,539       -       1,651,858  
2023 accretion of note discounts     (4,680 )     (619 )     (1,860 )     (27,220 )     (15,267 )     (16,741 )     (9,857 )     (17,043 )     (69,569 )     (32,367 )     (42,939 )     (60,705 )     (79,756 )     (60,250 )     (39,877 )     (79,754 )     (847,930 )     (50,000 )     (1,456,434 )
Note discounts as of September 30, 2023   $ 102,078     $ 13,502     $ 40,581     $ 37,945     $ 17,190     $ 17,230     $ 7,937     $ 11,296     $ -     $ 12,621     $ 9,467     $ 12,621     $ 6,573     $ 19,328     $ 7,397     $ 23,709     $ 498,609     $ -     $ 838,084  
                                                                                                                                                         
Convertible notes payable, net, as of December 31, 2021   $ 423,204     $ 55,979     $ 168,019     $ -     $ -     $ -     $ -     $ -     $ -     $ -     $ -     $ -     $ -     $ -     $ -     $ -     $ -     $ -     $ 647,202  
Convertible notes payable, net, as of December 31, 2022   $ 457,380     $ 60,500     $ 182,936     $ 194,520     $ 95,522     $ 94,049     $ 45,507     $ 65,975     $ 271,431     $ 78,212     $ 39,994     $ 49,874     $ 23,671     $ 12,822     $ 7,726     $ 6,537     $ -     $ (50,000 )   $ 1,636,656  
Convertible notes payable, net, as of September 30, 2023   $ 462,060     $ 61,119     $ 184,796     $ 221,740     $ 110,789     $ 110,790     $ 55,364     $ 83,018     $ 324,500     $ 110,579     $ 82,933     $ 110,579     $ 103,427     $ 73,072     $ 47,603     $ 86,291     $ 719,091     $ -     $ 2,947,751  
                                                                                                                                                         
2021 Effective interest rate     11 %     11 %     12 %     -%       -%       -%       -%       -%       -%       -%       -%       -%       -%       -%       -%       -%       -%       -%       -%  
2022 Effective interest rate     7 %     7 %     8 %     40 %     28 %     26 %     24 %     22 %     21 %     29 %     48 %     45 %     22 %     16 %     14 %     6 %     -%       -%       19 %
2023 Effective interest rate     1 %     1 %     1 %     10 %     12 %     13 %     16 %     18 %     21 %     26 %     46 %     49 %     73 %     65 %     73 %     73 %     70 %     -%       38 %