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NOTE PAYABLE AND CONVERTIBLE NOTE PAYABLE (PIK NOTES)
 3 Months Ended
Mar. 31, 2022
Debt Disclosure [Abstract]  
NOTE PAYABLE AND CONVERTIBLE NOTE PAYABLE (PIK NOTES)

NOTE 5 – NOTE PAYABLE AND CONVERTIBLE NOTE PAYABLE (PIK NOTES)

 

Convertible Notes Payable

 

During the three months ended March 31, 2022 and 2021, the Company amortized $24,781 and $44,664 of the debt discount, respectively. At March 31, 2022 and December 31, 2021, the Company had an unamortized debt discount of $157,935 and $182,716, respectively.

 

During the three months ended March 31, 2022, a total of 43,666 shares of the Company’s common stock was issued for the conversion of notes and interest. A total of $50,000 in principal and $4,968 in accrued interest was converted.

 

As of March 31, 2022 and December 31, 2021, the Company owes $265,000 and $315,000 on the outstanding Convertible Notes, respectively.

 

 SCHEDULE OF MATURITY DATE OF NOTES

    Amount due 
Maturity Date of Notes for Twelve Months Ended March 31, 2022  Amount due 
2022  $- 
2023   265,000 
2024   - 
2025   - 
2026   - 
Total  $265,000 

 

Convertible Notes Payable – Related Parties

 

During the three months ended March 31, 2022 and 2021, the Company amortized $1,847 and $9,311 of the debt discount, respectively. At March 31, 20222 and December 31, 2021, the Company had an unamortized debt discount of $12,004 and $13,851, respectively.

 

 

As of March 31, 2022 and December 31, 2021, the Company owes $200,000 and $200,000 on the outstanding Convertible Notes, respectively.

 SCHEDULE OF MATURITY DATE OF NOTES

    Amount due 
Maturity Date of Notes for Twelve Months Ended March 31, 2022  Amount due 
2022  $- 
2023   200,000 
2024   - 
2025   - 
2026   - 
Total  $200,000