Quarterly report pursuant to Section 13 or 15(d)

Convertible Notes Payable (Tables)

v3.23.3
Convertible Notes Payable (Tables)
9 Months Ended
Sep. 30, 2023
Convertible Note Payable [Abstract]
Schedule of Fair Value of the Stock Warrants were Estimated at Issuance Using the Binomial Valuation Model On April 20, 2022 (the Exchange Agreement date) along with various re-pricings as outlined below, the fair value of the stock warrants were estimated at issuance using the Binomial Valuation Model with the following assumptions:
2022
Dividend rate
—%
Term (in years) 4 years
Volatility 246.6% to 329.6%
Risk—free interest rate 2.79% to 3.12%
Schedule of Convertible Notes Payable On September 30, 2023 and December 31, 2022, convertible notes payable consisted of the following:
September 30,
2023
December 31,
2022
Convertible notes payable $ 1,031,250 $ 1,199,750
Add: put premium
-
90,731
Less: unamortized debt discount
-
(7,968 )
Convertible notes payable, net 1,031,250 1,282,513
Less: current portion of convertible notes payable (1,031,250 ) (1,031,250 )
Convertible notes payable – long-term $
-
$ 251,263