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Convertible Debt
 12 Months Ended
Dec. 31, 2024
Convertible Debt  
Convertible Debt

8. Convertible Debt

 

Convertible debt consists of the following at December 31, 2024 and 2023:

 

   December 31, 2024   December 31, 2023 
   Successor 
   December 31, 2024   December 31, 2023 
Incumaker, Inc. principal balance  $20,000    20,000 
Accrued interest   23,137    20,137 
Total principal and accrued interest (all current)  $43,137   $40,137 

 

On November 5, 2018, the Company completed the acquisition of Incumaker, Inc. and assumed certain outstanding convertible notes payable. At December 31, 2024, there was one remaining assumed convertible note payable outstanding that matured July 2017. The Company continues to be unsuccessful in reaching the Note holder to remit payment in full. At December 31, 2024, the principal balance of $20,000, and accrued interest of $23,137, are convertible at $1.50 per share into 28,758 shares of the Company’s common stock.