| SCHEDULE OF CONVERTIBLE NOTES PAYABLE |
SCHEDULE
OF CONVERTIBLE NOTES PAYABLE
| | |
June
30,
2025 | | |
December
31,
2024 | |
| a) Convertible Notes – with fixed conversion, legacy debt | |
$ | 415,500 | | |
$ | 415,500 | |
| b) Convertible Notes – with fixed conversion | |
| 1,130,000 | | |
| 1,072,500 | |
| c) Convertible Notes – with fixed conversion and OID | |
| 108,000 | | |
| 108,000 | |
| d) Convertible Note – with variable conversion | |
| 11,250 | | |
| 47,000 | |
| e) Notes issued in relation to acquisition – with fixed conversion | |
| 200,000 | | |
| 200,000 | |
| Total convertible notes,
net of debt discount | |
| 200,000 | | |
| 200,000 | |
| | |
| | | |
| | |
| Less: Debt discount | |
| (13,750 | ) | |
| (30,750 | ) |
| Total convertible notes, net of debt discount | |
$ | 1,851,000 | | |
$ | 1,812,250 | |
| a) |
|
Included
in Convertible Notes - with fixed conversion terms, are loans provided to the Company from various investors These notes carry simple
interest rates ranging from 0% to 12% per annum and with terms ranging from 1 to 2 years. In lieu of the repayment of the principal
and accrued interest, the outstanding amounts are convertible, at the option of the note holder, generally at any time on or prior
to maturity and automatically under certain conditions, into the Company’s common shares at $0.015 to $0.30 per share. These
notes became due in 2017 and prior, and are currently past due. |
| |
|
|
| b) |
|
Convertible
notes totaling $927,500 have interest rates between 5% and 10% and are convertible in common shares between $0.35 and $4.00, and
are considered short-term, and another $202,500 of notes still considered long-term and bearing interest rates at 10% and conversion
rates ranging between $0.01 - $0.035. |
| |
|
|
| c) |
|
Notes
totaling $108,000 have an OID of 20%, an interest rate of 10% and a conversion rate of $0.030. |
| |
|
|
| d)
|
|
On
December 23, 2024, the Company entered into an unsecured short-term loan agreement with a third party for an aggregate of $68,000
with a 35% discount to market rate, if the note was not paid back by September 30, 2024. As of June 30, 2025, payments of $22,750
and note conversions totaling $34,000 have been made on note. |
| |
|
|
| e) |
|
Notes
totaling $200,000 were issued in relation to the acquisition of Level 2 Securities and bear a 10% interest rate and are convertible
into the Company’s common shares at $0.01. |
|