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NOTE PAYABLE AND CONVERTIBLE NOTE PAYABLE (PIK NOTES) | 9 Months Ended
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Sep. 30, 2021
Debt Disclosure [Abstract] |
NOTE PAYABLE AND CONVERTIBLE NOTE PAYABLE (PIK NOTES) | NOTE 5 – NOTE PAYABLE AND CONVERTIBLE NOTE PAYABLE (PIK NOTES) Note Payable On March 1, 2021, the Company entered into a $100,000 promissory note. This note was due on February 28, 2026 and accrued interest at a rate of 5% per annum or 7.5% per annum in the case of default. Since the Company completed a financing of no less than $7.5 million, the note holder was issued warrants valued at $25,000 with an exercise price equal to 110% of the offering cost of the common stock in the financing. These warrants have a term of five years. During the nine months ended September 30, 2021, the Company paid off the balance of this note’s principal and accrued interest. As of September 30, 2021 and December 31, 2020, the Company owes $0 and $0 on the outstanding note, respectively. Convertible Notes Payable During the nine months ended September 30, 2021 and 2020, the Company amortized $99,659 and $63,342 of the debt discount, respectively. At September 30, 2021 and December 31, 2020, the Company had an unamortized debt discount of $166,065 and $516,116, respectively. During the nine months ended September 30, 2021, a total of 839,724 shares of the Company’s common stock was issued for the conversion of notes and interest. A total of $990,000 in principal and $64,544 in accrued interest was converted. As part of this conversion, the Company also expensed $186,785 in unamortized debt discount related to these converted notes. As of September 30, 2021 and December 31, 2020, the Company owes $607,500 and $1,597,500 on the outstanding Convertible Notes, respectively. SCHEDULE OF MATURITY DATE OF NOTES
Maturity Date of Notes for Twelve Months Ending September 30, 2021, |  | Amount due |
2022 |  | $ | - |
2023 |  |  | - |
2024 |  |  | 607,500 |
2025 |  |  | - |
2026 |  |  | - |
Total |  | $ | 607,500 |
Convertible Notes Payable – Related Parties During the nine months ended September 30, 2021 and 2020, the Company amortized $28,242 and $28,344 of the debt discount, respectively. At September 30, 2021 and December 31, 2020, the Company had an unamortized debt discount of $79,346 and $107,588, respectively. During the nine months ended September 30, 2021, a total of 176,666 shares of the Company’s common stock was issued for the conversion of notes and interest. A total of $200,000 in principal and $20,876 in accrued interest was converted. As part of this conversion, the Company also expensed $63,607 in unamortized debt discount related to these converted notes. As of September 30, 2021 and December 31, 2020, the Company owes $200,000 and $400,000 on the outstanding Convertible Notes, respectively. SCHEDULE OF MATURITY DATE OF NOTES
Maturity Date of Notes for Twelve Months Ending September 30, 2021, |  | Amount due |
2022 |  | $ | - |
2023 |  |  | - |
2024 |  |  | 200,000 |
2025 |  |  | - |
2026 |  |  | - |
Total |  | $ | 200,000 |

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1B -Subparagraph (h) -URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1C -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1I -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1I -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(c)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1B -Subparagraph (g) -URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1C -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1C -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1E -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495348-112611 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1B -URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1I -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1B -Subparagraph (i) -URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611 + Details
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