| Schedule of Convertible Notes Payable |
| Schedule of Convertible Notes Payable |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
| Note* |
|
Issuance Date |
|
|
Maturity |
|
|
Coupon |
|
|
Face Value |
|
|
Unamortized
Discount |
|
|
Carrying Value |
|
| Note 7 |
|
|
3/10/2020 |
|
|
|
4/18/2022 |
|
|
|
8% |
|
|
$ |
47,800 |
|
|
$ |
– |
|
|
$ |
47,800 |
|
| Note 8 |
|
|
8/4/2020 |
|
|
|
4/18/2022 |
|
|
|
8% |
|
|
|
156,000 |
|
|
|
– |
|
|
|
156,000 |
|
| Note 9 |
|
|
10/2/2020 |
|
|
|
4/18/2022 |
|
|
|
8% |
|
|
|
205,000 |
|
|
|
– |
|
|
|
205,000 |
|
| Note 10 |
|
|
10/15/2020 |
|
|
|
4/18/2022 |
|
|
|
8% |
|
|
|
172,000 |
|
|
|
– |
|
|
|
172,000 |
|
| Note 11 |
|
|
11/2/2020 |
|
|
|
4/18/2022 |
|
|
|
8% |
|
|
|
69,000 |
|
|
|
– |
|
|
|
69,000 |
|
| Note 12 |
|
|
11/12/2020 |
|
|
|
4/18/2022 |
|
|
|
8% |
|
|
|
69,000 |
|
|
|
– |
|
|
|
69,000 |
|
| Note 14 |
|
|
12/10/2020 |
|
|
|
4/18/2022 |
|
|
|
8% |
|
|
|
80,000 |
|
|
|
– |
|
|
|
80,000 |
|
| Note 16 |
|
|
1/14/2021 |
|
|
|
4/18/2022 |
|
|
|
8% |
|
|
|
107,000 |
|
|
|
– |
|
|
|
107,000 |
|
| Note 17 |
|
|
1/27/2021 |
|
|
|
4/18/2022 |
|
|
|
8% |
|
|
|
60,000 |
|
|
|
– |
|
|
|
60,000 |
|
| Note 20 |
|
|
4/30/2021 |
|
|
|
4/30/2022 |
|
|
|
8% |
|
|
|
104,000 |
|
|
|
339 |
|
|
|
103,661 |
|
| Note 21 |
|
|
5/25/2021 |
|
|
|
5/25/2022 |
|
|
|
8% |
|
|
|
104,000 |
|
|
|
1,039 |
|
|
|
102,961 |
|
| Note 22 |
|
|
6/24/2021 |
|
|
|
6/24/2022 |
|
|
|
8% |
|
|
|
185,652 |
|
|
|
16,440 |
|
|
|
169,212 |
|
| Note 24 |
|
|
7/24/2021 |
|
|
|
7/24/2022 |
|
|
|
8% |
|
|
|
265,000 |
|
|
|
26,315 |
|
|
|
238,685 |
|
| Note 25 |
|
|
8/04/2021 |
|
|
|
8/4/2022 |
|
|
|
8% |
|
|
|
129,800 |
|
|
|
13,599 |
|
|
|
116,201 |
|
| Note 26 |
|
|
8/11/2021 |
|
|
|
8/11/2022 |
|
|
|
8% |
|
|
|
151,500 |
|
|
|
15,380 |
|
|
|
136,120 |
|
| Note 27 |
|
|
8/16/2021 |
|
|
|
8/16/2022 |
|
|
|
8% |
|
|
|
88,400 |
|
|
|
12,288 |
|
|
|
76,112 |
|
| Note 28 |
|
|
8/20/2021 |
|
|
|
8/20/2022 |
|
|
|
8% |
|
|
|
151,500 |
|
|
|
17,520 |
|
|
|
133,980 |
|
| Note 29 |
|
|
8/30/2021 |
|
|
|
8/30/2022 |
|
|
|
8% |
|
|
|
140,650 |
|
|
|
16,652 |
|
|
|
123,998 |
|
| Note 30 |
|
|
9/02/2021 |
|
|
|
9/02/2022 |
|
|
|
8% |
|
|
|
216,385 |
|
|
|
28,641 |
|
|
|
187,744 |
|
| Note 31 |
|
|
9/17/2021 |
|
|
|
9/17/2022 |
|
|
|
8% |
|
|
|
270,480 |
|
|
|
31,151 |
|
|
|
239,329 |
|
| Note 32 |
|
|
9/30/2021 |
|
|
|
9/30/2022 |
|
|
|
8% |
|
|
|
270,480 |
|
|
|
34,045 |
|
|
|
236,435 |
|
| Note 34 |
|
|
10/26/2021 |
|
|
|
10/26/2022 |
|
|
|
8% |
|
|
|
270,480 |
|
|
|
38,932 |
|
|
|
231,548 |
|
| Note 35 |
|
|
10/30/2021 |
|
|
|
10/30/2022 |
|
|
|
8% |
|
|
|
46,800 |
|
|
|
34,584 |
|
|
|
12,216 |
|
| Note 36 |
|
|
11/03/2021 |
|
|
|
11/03/2022 |
|
|
|
8% |
|
|
|
270,480 |
|
|
|
27,491 |
|
|
|
242,989 |
|
| Note 37 |
|
|
11/16/2021 |
|
|
|
11/16/2022 |
|
|
|
8% |
|
|
|
324,576 |
|
|
|
95,326 |
|
|
|
229,250 |
|
| Note 38 |
|
|
11/30/2021 |
|
|
|
11/30/2022 |
|
|
|
8% |
|
|
|
270,480 |
|
|
|
60,147 |
|
|
|
210,333 |
|
| Note 39 |
|
|
12/10/2021 |
|
|
|
12/10/2022 |
|
|
|
8% |
|
|
|
601,000 |
|
|
|
135,594 |
|
|
|
465,406 |
|
| Note 40 |
|
|
12/15/2021 |
|
|
|
12/15/2022 |
|
|
|
8% |
|
|
|
270,480 |
|
|
|
66,910 |
|
|
|
203,570 |
|
| Note 41 |
|
|
12/23/2021 |
|
|
|
12/23/2022 |
|
|
|
8% |
|
|
|
54,100 |
|
|
|
13,832 |
|
|
|
40,268 |
|
| Note 42 |
|
|
1/4/2022 |
|
|
|
1/4/2023 |
|
|
|
8% |
|
|
|
270,480 |
|
|
|
32,311 |
|
|
|
238,169 |
|
| Note 43 |
|
|
1/12/2022 |
|
|
|
1/12/2023 |
|
|
|
8% |
|
|
|
300,000 |
|
|
|
255,936 |
|
|
|
44,064 |
|
| Note 44 |
|
|
1/19/2022 |
|
|
|
1/19/2023 |
|
|
|
8% |
|
|
|
270,480 |
|
|
|
46,654 |
|
|
|
223,826 |
|
| Note 45 |
|
|
2/02/2022 |
|
|
|
2/02/2023 |
|
|
|
8% |
|
|
|
270,480 |
|
|
|
37,049 |
|
|
|
233,431 |
|
| Note 46 |
|
|
2/03/2022 |
|
|
|
2/03/2023 |
|
|
|
8% |
|
|
|
425,000 |
|
|
|
362,619 |
|
|
|
62,381 |
|
| Note 47 |
|
|
2/15/2022 |
|
|
|
2/15/2023 |
|
|
|
8% |
|
|
|
270,480 |
|
|
|
28,517 |
|
|
|
241,963 |
|
| Note 48 |
|
|
2/24/2022 |
|
|
|
2/24/2023 |
|
|
|
8% |
|
|
|
211,640 |
|
|
|
180,545 |
|
|
|
31,095 |
|
| Note 49 |
|
|
3/01/2022 |
|
|
|
3/01/2023 |
|
|
|
8% |
|
|
|
120,000 |
|
|
|
105,462 |
|
|
|
14,538 |
|
| Note 50 |
|
|
3/01/2022 |
|
|
|
3/01/2023 |
|
|
|
8% |
|
|
|
270,480 |
|
|
|
37,434 |
|
|
|
233,046 |
|
| Note 51 |
|
|
3/16/2022 |
|
|
|
3/16/2023 |
|
|
|
8% |
|
|
|
270,480 |
|
|
|
35,721 |
|
|
|
234,759 |
|
| Note 52 |
|
|
3/22/2022 |
|
|
|
3/22/2023 |
|
|
|
8% |
|
|
|
120,000 |
|
|
|
108,000 |
|
|
|
12,000 |
|
| Total |
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
7,951,563 |
|
|
$ |
1,916,473 |
|
|
$ |
6,035,090 |
|
* Notes 1, 2, 3, 4, 5 and 6 in the amounts of
$82,000, $208,000, $27,000, $62,000, $202,400 and $78,000, respectively, were fully converted as of March 31, 2022.
* On October 18, 2021, the maturity dates of each
of Notes 7, 8, 9, 10, 11, 12, 14, 16, and 17 were extended to April 18, 2022 and the lender waived all penalty
interest for non-payment.
* On July 7, 2022, the maturity date of each of
Notes 8, 9, 10, 11, 12, 14, 16, 17, 20, 21, 22, 24, 25, 26, 27, 28, 29, 30, 31, 32, 34, 36, 37, 38, & 40 were extended to December
31, 2022, and the lender waived all penalty interest for non-payment.
*Note 23 in the amount of $180,400 was paid in
cash on November 23, 2021. The Company recognized a gain on extinguishment of debt in the amount of $32,544, related to the write off
of the derivative liability.
*Note 33 in the amount of $86,900 was paid in
cash on February 7, 2022. The Company recognized a gain on extinguishment of debt in the amount of $74,059
Between April 1, 2021, and March 31, 2022, the
Company issued to “accredited investors,” Convertible Promissory Notes aggregating a principal amount of $7,253,063. The Company
received an aggregate net proceeds of $6,419,958 after $689,498 in original note discount and $40,250 in legal fees. The Company has agreed
to pay interest on the unpaid principal balance at the rate of eight percent (8%) per annum from the dates on which Notes are issued until
the same becomes due and payable, whether at maturity or upon acceleration, prepayment or otherwise. The Company shall have the right
to prepay the Notes, provided it makes a payment as set forth in the agreements.
The outstanding principal amount of the Notes
is convertible into the Company’s common stock at the lender’s option at $0.01 per share for the first six months of the term
of the Notes. The notes have varying conversion rates. After the six-month anniversary, the conversion price is equal to 63%-70% of the
average of the three lowest trading prices of the Company’s common stock. Five of 40 notes outstanding have a fixed conversion rate
of $0.002.
The following is a summary of convertible notes payable
as of March 31, 2021:
| Note* |
|
Inception Date |
|
Maturity |
|
Coupon |
|
Face Value |
|
|
Unamortized Discount |
|
|
Carrying Value |
|
| Note 5 |
|
1/27/2020 |
|
1/27/2021 |
|
8% |
|
$ |
202,400 |
|
|
$ |
- |
|
|
$ |
202,400 |
|
| Note 6 |
|
2/19/2020 |
|
2/19/2021 |
|
8% |
|
|
85,800 |
|
|
|
- |
|
|
|
85,800 |
|
| Note 7 |
|
3/10/2020 |
|
3/10/2021 |
|
8% |
|
|
85,800 |
|
|
|
- |
|
|
|
85,800 |
|
| Note 8 |
|
8/4/2020 |
|
8/4/2021 |
|
8% |
|
|
156,000 |
|
|
|
22,400 |
|
|
|
133,600 |
|
| Note 9 |
|
10/2/2020 |
|
10/2/2021 |
|
8% |
|
|
205,000 |
|
|
|
68,000 |
|
|
|
137,000 |
|
| Note 10 |
|
10/15/2020 |
|
10/15/2021 |
|
8% |
|
|
172,000 |
|
|
|
45,911 |
|
|
|
126,089 |
|
| Note 11 |
|
11/2/2020 |
|
11/2/2021 |
|
8% |
|
|
69,000 |
|
|
|
21,287 |
|
|
|
47,713 |
|
| Note 12 |
|
11/12/2020 |
|
11/12/2021 |
|
8% |
|
|
69,000 |
|
|
|
13,892 |
|
|
|
55,108 |
|
| Note 14 |
|
12/10/2020 |
|
12/10/2021 |
|
8% |
|
|
80,000 |
|
|
|
24,738 |
|
|
|
55,262 |
|
| Note 15 |
|
12/29/2020 |
|
12/29/2021 |
|
8% |
|
|
55,650 |
|
|
|
43,660 |
|
|
|
11,990 |
|
| Note 16 |
|
1/14/2021 |
|
1/14/2022 |
|
8% |
|
|
107,000 |
|
|
|
31,364 |
|
|
|
75,636 |
|
| Note 17 |
|
1/27/2021 |
|
1/27/2021 |
|
8% |
|
|
60,000 |
|
|
|
21,437 |
|
|
|
38,563 |
|
| Note 18 |
|
2/3/2021 |
|
2/3/2022 |
|
8% |
|
|
45,250 |
|
|
|
38,608 |
|
|
|
6,642 |
|
| Note 19 |
|
2/12/2021 |
|
2/12/2022 |
|
8% |
|
|
69,000 |
|
|
|
55,870 |
|
|
|
13,130 |
|
| |
|
|
|
|
|
|
|
$ |
1,461,900 |
|
|
$ |
387,167 |
|
|
$ |
1,074,733 |
|
|
| Schedule of amortization expense, interest expense and accrued interest on debt |
| Schedule of amortization expense, interest expense and accrued interest on debt |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Note |
|
Interest Expense |
|
|
Accrued Interest |
|
|
Amortization of Debt Discount |
|
|
Unamortized |
|
| Note 5 |
|
|
17,913 |
|
|
|
– |
|
|
|
– |
|
|
|
– |
|
| Note 6 |
|
|
9,821 |
|
|
|
– |
|
|
|
– |
|
|
|
– |
|
| Note 7 |
|
|
15,529 |
|
|
|
21,504 |
|
|
|
– |
|
|
|
– |
|
| Note 8 |
|
|
28,987 |
|
|
|
30,867 |
|
|
|
22,400 |
|
|
|
– |
|
| Note 9 |
|
|
26,510 |
|
|
|
34,597 |
|
|
|
68,000 |
|
|
|
– |
|
| Note 10 |
|
|
21,630 |
|
|
|
27,925 |
|
|
|
45,911 |
|
|
|
– |
|
| Note 11 |
|
|
8,337 |
|
|
|
10,590 |
|
|
|
21,287 |
|
|
|
– |
|
| Note 12 |
|
|
8,148 |
|
|
|
10,250 |
|
|
|
13,892 |
|
|
|
– |
|
| Note 14 |
|
|
8,833 |
|
|
|
10,779 |
|
|
|
24,738 |
|
|
|
– |
|
| Note 15 |
|
|
12 |
|
|
|
– |
|
|
|
43,660 |
|
|
|
– |
|
| Note 16 |
|
|
11,113 |
|
|
|
12,570 |
|
|
|
31,364 |
|
|
|
– |
|
| Note 17 |
|
|
6,190 |
|
|
|
6,664 |
|
|
|
21,437 |
|
|
|
– |
|
| Note 18 |
|
|
1,180 |
|
|
|
– |
|
|
|
38,608 |
|
|
|
– |
|
| Note 19 |
|
|
2,027 |
|
|
|
– |
|
|
|
55,870 |
|
|
|
– |
|
| Note 20 |
|
|
7,636 |
|
|
|
7,636 |
|
|
|
3,661 |
|
|
|
339 |
|
| Note 21 |
|
|
7,066 |
|
|
|
7,066 |
|
|
|
5,041 |
|
|
|
1,039 |
|
| Note 22 |
|
|
11,393 |
|
|
|
11,393 |
|
|
|
41,089 |
|
|
|
16,440 |
|
| Note 23 |
|
|
8,019 |
|
|
|
– |
|
|
|
8,928 |
|
|
|
– |
|
| Note 24 |
|
|
14,346 |
|
|
|
14,347 |
|
|
|
45,050 |
|
|
|
26,315 |
|
| Note 25 |
|
|
6,799 |
|
|
|
6,799 |
|
|
|
23,111 |
|
|
|
13,599 |
|
| Note 26 |
|
|
7,704 |
|
|
|
7,704 |
|
|
|
26,234 |
|
|
|
15,380 |
|
| Note 27 |
|
|
4,398 |
|
|
|
4,398 |
|
|
|
19,316 |
|
|
|
12,288 |
|
| Note 28 |
|
|
7,405 |
|
|
|
7,405 |
|
|
|
29,196 |
|
|
|
17,520 |
|
| Note 29 |
|
|
6,566 |
|
|
|
6,566 |
|
|
|
20,054 |
|
|
|
16,652 |
|
| Note 30 |
|
|
9,960 |
|
|
|
9,960 |
|
|
|
33,843 |
|
|
|
28,641 |
|
| Note 31 |
|
|
12,449 |
|
|
|
12,450 |
|
|
|
37,679 |
|
|
|
31,151 |
|
| Note 32 |
|
|
10,790 |
|
|
|
10,790 |
|
|
|
29,760 |
|
|
|
34,045 |
|
| Note 33 |
|
|
3,314 |
|
|
|
– |
|
|
|
78,210 |
|
|
|
– |
|
| Note 34 |
|
|
9,663 |
|
|
|
9,664 |
|
|
|
24,329 |
|
|
|
38,932 |
|
| Note 35 |
|
|
1,600 |
|
|
|
1,600 |
|
|
|
7,535 |
|
|
|
34,584 |
|
| Note 36 |
|
|
8,774 |
|
|
|
8,774 |
|
|
|
17,908 |
|
|
|
27,491 |
|
| Note 37 |
|
|
9,604 |
|
|
|
9,604 |
|
|
|
36,584 |
|
|
|
95,326 |
|
| Note 38 |
|
|
7,173 |
|
|
|
7,173 |
|
|
|
24,855 |
|
|
|
60,147 |
|
| Note 39 |
|
|
15,939 |
|
|
|
15,939 |
|
|
|
58,366 |
|
|
|
135,594 |
|
| Note 40 |
|
|
6,284 |
|
|
|
6,284 |
|
|
|
26,965 |
|
|
|
66,910 |
|
| Note 41 |
|
|
1,162 |
|
|
|
1,162 |
|
|
|
3,775 |
|
|
|
13,832 |
|
| Note 42 |
|
|
5,098 |
|
|
|
5,098 |
|
|
|
5,983 |
|
|
|
32,311 |
|
| Note 43 |
|
|
5,195 |
|
|
|
5,195 |
|
|
|
44,034 |
|
|
|
255,936 |
|
| Note 44 |
|
|
4,209 |
|
|
|
4,209 |
|
|
|
8,317 |
|
|
|
46,654 |
|
| Note 45 |
|
|
3,379 |
|
|
|
3,379 |
|
|
|
6,777 |
|
|
|
37,049 |
|
| Note 46 |
|
|
5,216 |
|
|
|
5,216 |
|
|
|
62,381 |
|
|
|
362,619 |
|
| Note 47 |
|
|
2,608 |
|
|
|
2,608 |
|
|
|
5,332 |
|
|
|
28,517 |
|
| Note 48 |
|
|
1,624 |
|
|
|
1,624 |
|
|
|
31,065 |
|
|
|
180,545 |
|
| Note 49 |
|
|
789 |
|
|
|
789 |
|
|
|
3,663 |
|
|
|
105,462 |
|
| Note 50 |
|
|
1,779 |
|
|
|
1,779 |
|
|
|
3,135 |
|
|
|
37,434 |
|
| Note 51 |
|
|
889 |
|
|
|
889 |
|
|
|
3,004 |
|
|
|
35,721 |
|
| Note 52 |
|
|
237 |
|
|
|
237 |
|
|
|
12,000 |
|
|
|
108,000 |
|
| Total |
|
$ |
375,298 |
|
|
$ |
363,483 |
|
|
$ |
1,174,347 |
|
|
$ |
1,916,473 |
|
|