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NOTE PAYABLE AND CONVERTIBLE NOTE PAYABLE (PIK NOTES)
 3 Months Ended
Mar. 31, 2023
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, 2023 and 2022, the Company amortized $23,054 and $24,781 of the debt discount, respectively. At March 31, 2023 and December 31, 2022, the Company had an unamortized debt discount of $56,535 and $79,409, respectively.

 

As of March 31, 2023 and December 31, 2022, the Company owes $230,000 and $230,000 on the outstanding Convertible Notes, respectively. These convertible notes have a maturity date of November 6, 2023.

 

Convertible Notes Payable – Related Parties

 

During the three months ended March 31, 2023 and 2022, the Company amortized $1,847 and $1,847 of the debt discount, respectively. At March 31, 2023 and December 31, 2022, the Company had an unamortized debt discount of $4,514 and $6,361, respectively.

 

As of March 31, 2023 and December 31, 2022, the Company owes $200,000 and $200,000 on the outstanding Convertible Notes, respectively. These convertible notes have a maturity date of November 6, 2023.