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NOTE PAYABLE AND CONVERTIBLE NOTE PAYABLE (PIK NOTES)
 12 Months Ended
Dec. 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 years ended December 31, 2023 and 2022, the Company amortized $79,409   and $110,797 of the debt discount, respectively. At December 31, 2023 and December 31, 2022, the Company had an unamortized debt discount of 0 and $79,409, respectively.

 

As of December 31, 2023 and December 31, 2022, the Company owes $0 and $230,000 on the outstanding Convertible Notes, respectively. These convertible notes that were outstanding during the year had a maturity date of November 6, 2023.  

 

On November 6, 2023, five notes with a total principal of $230,000 and accrued interest of $48,966 was converted into 55,793 shares of common stock.

 

Convertible Notes Payable – Related Parties

 

During the years ended December 1, 2023 and 2022, the Company amortized $6,361   and $7,490 of the debt discount, respectively. At December 31, 2023 and December 31, 2022, the Company had an unamortized debt discount of $0 and $6,361, respectively.

 

As of December 31, 2023 and December 31, 2022, the Company owes $0 and $200,000 on the outstanding Convertible Notes, respectively. These convertible notes that were outstanding during the year had a maturity date of November 6, 2023.  

 

On November 6, 2023, three notes with a total principal of $200,000 and accrued interest of $41,901 was converted into 48,380 shares of common stock.