v3.26.1
Convertible Notes Payable (Tables)
 12 Months Ended
Dec. 31, 2025
Convertible Notes Payable [Abstract]  
Schedule of Convertible Notes Payable

Convertible notes payable consists of the following:

 

Description  Interest
Rate		       Maturity
date***		  Principal   Accrued
Interest		   Unamortized
debt discount		   December 31,
2025
Amount,
net		   December  31,
2024
Amount,
net		 
Cavalry Fund I LP   18.00%*       Matured  $819,371   $117,192   $
-
   $936,563   $836,942 
Mercer Street Global  Opportunity Fund, LLC   18.00%*       Matured   1,042,701    160,105    
-
    1,202,806    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 notes   8.00 to 12.00%       Matured to November 26, 2026   3,002,524    415,500    (200,769)   3,217,255    2,870,196 
                                       
Total convertible notes payable               $4,864,596   $692,797   $(200,769)  $5,356,624   $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 notes payable are technically in default due the default on the outstanding 7 Knots notes for which a default was declared. The company is in process of obtaining forbearance confirmations that the individual notes are not in default. The Company believes it will receive forbearance agreements from the convertible note holders.  If the Company is unsuccessful the convertible debt would be in default.