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NOTE PAYABLE AND CONVERTIBLE NOTE PAYABLE (PIK NOTES)
 6 Months Ended
Jun. 30, 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 six months ended June 30, 2022 and 2021, the Company amortized $56,174 and $258,895   of the debt discount, respectively. At June 30, 2022 and December 31, 2021, the Company had an unamortized debt discount of $126,542 and $182,716, respectively.

 

During the six months ended June 30, 2022, a total of 75,649 shares of the Company’s common stock was issued for the conversion of notes and interest. A total of $85,000 in principal and $9,985 in accrued interest was converted.

 

As of June 30, 2022 and December 31, 2021, the Company owes $230,000 and $315,000 on the outstanding Convertible Notes, respectively.

Maturity Date of Notes for Twelve Months Ended June 30, 2022  Amount due 
Maturity Date of Notes for Twelve Months Ended June 30, 2022  Amount due 
2022  $- 
2023   230,000 
2024   - 
2025   - 
2026   - 
Total  $230,000 

 

Convertible Notes Payable – Related Parties

 

During the six months ended June 30, 2022 and 2021, the Company amortized $3,714 and $18,724   of the debt discount, respectively. At June 30, 2022   and December 31, 2021, the Company had an unamortized debt discount of $10,137 and $13,851, respectively.

 

As of June 30, 2022 and December 31, 2021, the Company owes $200,000 and $200,000 on the outstanding Convertible Notes, respectively.

Maturity Date of Notes for Twelve Months Ended June 30, 2022  Amount due 
Maturity Date of Notes for Twelve Months Ended June 30, 2022  Amount due 
2022  $- 
2023   200,000 
2024   - 
2025   - 
2026   - 
Total  $200,000