Quarterly report pursuant to Section 13 or 15(d)

Subsequent Events

Subsequent Events
9 Months Ended
Sep. 30, 2022
Subsequent Events [Abstract]  
Subsequent Events

7) Subsequent Events


From October 1, 2022 through November 18, 2022 the Company borrowed $104,500 from related parties (due upon demand, 10% OID and 10% interest per month, convertible into Company’s common shares at $2.50 per share), entered into two (2) new merchant cash loan agreements collecting $580,000 (obligating the Company to repay $5,835 per day for 130 to 140 days) and issued six (6) convertible loans with a principal balance of $1,011,960. The term of these notes: loan term are from 2 to 12 months; interest rate from 0% to 24%, convertible into the Company’s common stock at a fixed rate of $2.50 per share or at a variable conversion rate upon an event of default. In this time the Company also issued 150,000 shares of common stock to extend one convertible loan with $352,188 principal for one month and repaid another convertible loan in the amount of $146,542 on October 24, 2022. On October 5, 2022, a convertible note converted a $98,544 note and $5,751 accrued interest and fees into 41,718 common shares.