| SCHEDULE OF CONVERTIBLE NOTES |
Convertible
debt obligations consist of the following:
SCHEDULE OF CONVERTIBLE NOTES
| |
|
2023
Convertible Note |
|
|
Preferred
Share
Convertible Notes |
|
|
Total
Principal |
|
|
Debt
Discount |
|
|
Convertible
debt,
net of
discount |
|
|
Preferred
Share
Convertible Notes -
Related Party |
|
| Balance at January 1, 2024 |
|
$ |
1,595,697 |
|
|
$ |
- |
|
|
$ |
1,595,697 |
|
|
$ |
(274,795 |
) |
|
$ |
1,320,902 |
|
|
$ |
- |
|
| Convertible notes issued |
|
|
- |
|
|
|
2,306,425 |
|
|
|
2,306,425 |
|
|
|
(6,725 |
) |
|
|
2,299,700 |
|
|
|
- |
|
| Convertible note issued
to related party |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
1,000,000 |
|
| Amortization of debt discount |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
281,520 |
|
|
|
281,520 |
|
|
|
- |
|
| Principal
Conversions |
|
|
- |
|
|
|
(2,306,425 |
) |
|
|
(2,306,425 |
) |
|
|
- |
|
|
|
(2,306,425 |
) |
|
|
(1,000,000 |
) |
| Convertible notes outstanding
at September 30, 2024 |
|
$ |
1,595,697 |
|
|
$ |
- |
|
|
$ |
1,595,697 |
|
|
$ |
- |
|
|
$ |
1,595,697 |
|
|
$ |
- |
|
|
| SUMMARY OF THE CHANGES IN THE FAIR VALUE OF DERIVATIVE LIABILITIES |
The
following table sets forth a summary of the changes in the fair value of the derivative liability that are measured at fair value on
a recurring basis:
SUMMARY OF THE CHANGES IN THE FAIR VALUE OF DERIVATIVE LIABILITIES
| |
|
|
|
|
| Balance at January 1, 2024 |
|
$ |
738,140 |
|
| Add:
fair value of derivative associated with convertible interest accrued during the period |
|
|
231,488 |
|
| Balance at September 30, 2024 |
|
$ |
969,628 |
|
|