Quarterly report [Sections 13 or 15(d)]

CONVERTIBLE PROMISSORY DEBENTURES (Tables)

v3.25.2
CONVERTIBLE PROMISSORY DEBENTURES (Tables)
 6 Months Ended
Jun. 30, 2025
Debt Disclosure [Abstract]  
SCHEDULE OF CONVERTIBLE NOTES PAYABLE

Convertible notes payable consisted of the following:

 

Note Holder/Original Issuance Date   Maturity Date  

Cash

Received

    

Outstanding Balance as of

June 30, 2025

     Outstanding Balance as of December 31, 2024  
Osher Capital Partners LLC                            
January 28, 2020 (“Note 1”)   August 31, 2025   $ 350,005     $ 620,553     $ 620,553  
June 22, 2022 (“Note 2”)   August 31, 2025     75,000       103,745       103,745  
August 31, 2022 (“Note 2”)   August 31, 2025     100,000       135,520       135,520  
September 20, 2022 (“Note 2”)   August 31, 2025     100,000       135,520       135,520  
October 20, 2022 (“Note 2”)   March 31, 2025     100,000       127,000       127,000  
November 14, 2022 (“Note 2”)   March 31, 2025     50,000       64,350       64,350  
December 22, 2022 (“Note 2”)   March 31, 2025     100,000       125,000       125,000  
July 18, 2023 (“Note 3”)   August 31, 2025     60,000       72,600       72,600  
December 7, 2023 (“Note 3”)   August 31, 2025     40,000       48,400       48,400  
May 13, 2024 (“Note 4”)   May 13, 2025     35,000       40,000       40,000  
August 19, 2024 (“Note 4”)   August 19, 2025     7,500       8,250       8,250  
November 19, 2024 (“Note 4”)   November 19, 2025     8,000       8,800       8,800  
April 15, 2025   April 15, 2026     20,000       22,000       -  
                             
Brio Capital Master Fund, Ltd.                            
March 23, 2022 (“Note 2”)   August 31, 2025     100,000       142,960       142,960  
November 9, 2022 (“Note 2”)   August 31, 2025     75,000       101,640       101,640  
January 20, 2023 (“Note 3”)   March 31, 2025     50,000       62,500       62,500  
February 9, 2023 (“Note 3”)   March 31, 2025     50,000       62,500       62,500  
July 20, 2023 (“Note 3”)   August 31, 2025     40,000       48,400       48,400  
January 8, 2024 (“Note 4”)   January 8, 2025     40,000       44,000       44,000  
May 13, 2024 (“Note 4”)   May 13, 2025     35,000       40,000       40,000  
August 20, 2024 (“Note 4”)   August 20, 2025     11,500       12,650       12,650  
November 19, 2024 (“Note 4”)   November 19, 2025     8,000       8,800       8,800  
April 23, 2025   April 23, 2026     10,000       11,000       -  
                             
Various third-party noteholders                            
Various dates in fiscal
2024 (“Note 4”)		   November 19, 2025     650,890       8,800       8,800  
Various dates in fiscal
2025 (“Note 5”)		   Through June 2026     50,000       55,000       -  
FY 2025 Regulation D   Primarily January 9, 2026     345,197       379,717       -  
Total convertible notes payable       $ 2,511,092     $ 2,489,705     $ 2,021,988  
Original issue discount                 (62,874 )     (117,868 )
Debt discount                 (118,845 )     (12,384 )
                             
Total convertible notes payable               $ 2,307,986     $ 1,891,736  
SCHEDULE OF PRINCIPAL PAYMENTS DUE ON CONVERTIBLE PROMISSORY DEBENTURES

Principal payments on convertible promissory debentures are due as follows:

 

Year ending December 31,      
2025 (excluding the six months ended June 30, 2025)   $ 2,401,705  
2026     88,000  
Long-Term Debt   $ 2,489,705  
SCHEDULE OF CHANGES IN CONVERTIBLE NOTES

Changes in convertible notes were as follows:

 

    Note 1     Note 2     Note 3     Note 4     Reg D     Note 5     Totals  
Convertible notes payable as of December 31, 2023   $ 864,136     $ 1,379,500     $ 264,000     $ -     $ -     $ -     $ 2,507,636  
                                                         
Convertible notes payable issued in 2024     56,416       97,655       30,400       879,029       -       -       1,063,500  
Conversion of debt for common stock     (299,999 )     (541,419 )     -       (707,730 )     -       -       (1,549,148 )
Convertible notes payable as of December 31, 2024   $ 620,553     $ 935,736     $ 294,400     $ 171,299     $ -     $ -     $ 2,021,988  
                                                         
Convertible notes payable issued in 2025     -       -       -       -       379,717       88,000       467,717  
Convertible notes payable as of June 30, 2025   $ 620,553     $ 935,736     $ 294,400     $ 171,299     $ 379,717     $ 88,000     $ 2,489,705  
SCHEDULE OF CHANGES IN NOTE DISCOUNTS

Changes in note discounts were as follows:

 

    Note 1     Note 2     Note 3     Note 4     Reg D     Note 5     Totals  
Note discounts as of December 31, 2023   $ 114,995     $ 100,810     $ 81,532     $ -     $ -     $ -     $ 297,337  
                                                         
Note discounts issued in conjunction with debt in 2024     56,414       97,657       30,400       487,771       -               672,242  
2024 accretion of note discounts     (129,214 )     (145,792 )     (95,981 )     (468,340 )     -               (839,327 )
Note discounts as of Dec 31, 2024   $ 42,195     $ 52,675     $ 15,951     $ 19,431     $ -     $ -     $ 130,252  
                                                         
Note discounts issued in conjunction with debt in 2025     -       -       -       -       165,500       53,360       218,860  
2025 accretion of note discounts     (27,975 )     (38,120 )     (11,335 )     (10,840 )     (72,061 )     (7,062 )     (167,393 )
Note discounts as of June 30, 2025   $ 14,220     $ 14,555     $ 4,616     $ 8,591     $ 93,439     $ 46,298     $ 181,719  
                                                         
Convertible notes payable, net, as of Dec 31, 2024   $ 578,358     $ 883,061     $ 278,449     $ 151,868     $ -     $ -     $ 1,891,736  
Convertible notes payable, net, as of June 30, 2025   $ 606,333     $ 921,181     $ 289,784     $ 162,708     $ 286,278     $ 41,702     $ 2,307,986  
                                                         
2024 Effective interest rate     21 %     16 %     33 %     273 %     -%       -%       42 %
2025 Effective interest rate     5 %     4 %     4 %     6 %     19 %     8 %     7 %