| Schedule of Convertible Debt Payable |
Convertible
debt payable consists of the following:
| Description | | Interest Rate | | | Maturity
date*** | | Principal | | | Accrued
Interest | | | Unamortized
debt
discount | | | September 30,
2025
Amount, net | | | December 31,
2024
Amount, net | | | Cavalry Fund I LP | | | 18.00 | %* | | Matured | | $ | 819,371 | | | $ | 79,501 | | | $ | - | | | $ | 898,872 | | | $ | 836,942 | | | Mercer Street Global Opportunity Fund, LLC | | | 18.00 | %* | | Matured | | | 1,042,701 | | | | 112,141 | | | | - | | | | 1,154,842 | | | | 1,051,013 | | | Red Road Holdings Corporation | | | 24.98 | %** | | Matured | | | - | | | | - | | | | - | | | | - | | | | 20,085 | | | | | | 24.51 | %** | | Matured | | | - | | | | - | | | | - | | | | - | | | | 173,798 | | | Quick Capital LLC | | | 11.03 | %** | | Matured | | | - | | | | - | | | | - | | | | - | | | | 64,171 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 2023, 2024 and 2025 convertible debt | | | 8.00 to 12.00 | % | | Matured to September 11, 2026 | | | 3,129,752 | | | | 437,373 | | | | (73,818 | ) | | | 3,493,307 | | | | 2,870,196 | | | Total convertible debt | | | | | | | | $ | 4,991,824 | | | $ | 629,015 | | | $ | (73,818 | ) | | $ | 5,547,021 | | | $ | 5,016,205 | |
| * | The Cavalry Fund LLP and Mercer Street Global Opportunity Fund, LLC, notes are accruing interest at the default interest rate of 18% with effect from November 27, 2024, prior to November 27, 2024, interest was accrued at 10% per annum. | | | | | ** | The Red Road Holdings Corporation and Quick Capital LLC, interest rates are effective interest rates as these convertible notes have a fixed interest charge which is earned on the issuance date, regardless of when payments are made. |
| *** | All convertible debt is technically in default due to the default on a certain convertible note. None of the convertible debt lenders have formally declared a default to the Company, other than one investor with an aggregate balance outstanding of $19,195 |
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