v3.25.3
PROMISSORY NOTES
 9 Months Ended
Sep. 30, 2025
PROMISSORY NOTES  
PROMISSORY NOTES

NOTE 5 –PROMISSORY NOTES

 

Promissory notes payable as of September 30, 2025 and December 31, 2024 consists of the following:

 

September 30, 2025

 

 

December 31, 2024

 

 

46,000

 

 

$

46,000

 

 

5,000

 

 

 

5,000

 

 

5,000

 

 

 

5,000

 

 

28,500

 

 

 

28,500

 

 

9,667

 

 

 

9,667

 

 

-

 

 

 

12,439

 

 

-

 

 

 

4,495

 

 

-

 

 

 

3,000

 

 

8,670

 

 

 

8,670

 

 

3,000

 

 

 

3,000

 

 

5,565

 

 

 

5,565

 

 

6,500

 

 

 

6,500

 

 

20,000

 

 

 

20,000

 

 

3,045

 

 

 

3,045

 

 

2,230

 

 

 

2,230

 

 

2,500

 

 

 

2,500

 

 

4,500

 

 

 

4,500

 

 

13,005

 

 

 

13,005

 

 

5,923

 

 

 

5,923

 

 

5,000

 

 

 

-

 

 

5,000

 

 

 

-

 

 

4,000

 

 

 

-

 

 

10,000

 

 

 

-

 

 

4,155

 

 

 

-

 

 

9,000

 

 

 

-

 

 

2,000

 

 

 

-

 

 

5,000

 

 

 

-

 

 

500

 

 

 

-

 

 

5,000

 

 

 

-

 

 

9,791

 

 

 

-

 

 

2,476

 

 

 

-

 

 

3,500

 

 

 

-

 

 

500

 

 

 

-

 

 

5,000

 

 

 

-

 

 

5,000

 

 

 

-

 

 

18,644

 

 

 

-

 

 

263,671

 

 

$

189,039

 

The Company has issued various promissory notes amounting to $48,167 for general operating purposes. The notes carry a various interest rates ranging from 8 -15% and are due on demand.

 

The Company received approval from the U.S. Small Business Administration to fund the Company’s request for a loan under the SBA’s Economic Injury Disaster Loan Program (EDIL loan). In connection with the EDIL Loan, the Company has entered into the promissory note in principal amount of $46,000. The EDIL Loan is scheduled to mature on March 2052, has a 3.75% interest rate, and is subject to the terms and conditions applicable to all loans made pursuant to the EDIL loans as administered by the SBA.

 

During the nine months ended September 30, 2025, the Company issued various promissory notes amounting to $94,566 for general operating purposes. The notes carry a interest rate of 10% and are due on demand. On August 12, 2025, the noteholder agreed to settle three notes and accrued interest dated May 4, 2023, June 30, 2023, and August 9, 2023 amounting to $19,934 and $3,165 in accrued interest for 1,993,400 shares valued at $19,934. The difference between the value of the shares and settled debt was recorded to gain on forgiveness of debt on the Consolidated Statement of Operations. As of September 30, 2025 and December 31, 2024, the Company had notes due to this noteholder amounting to $169,504 and $94,872, respectively.

 

During the nine months ended September 30, 2025 and 2024, the Company recorded interest expense of $18,725 and $12,424, respectively.