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AND USE OF PROCEEDS
−Removed: On May 13, 2024, the Company sold 750,000 shares of
−Removed: its common stock to an accredited investor for gross proceeds of $15,000.
+Added: On November 20, 2024, the Company sold 250,000 shares
+Added: of its common stock to an accredited investor for gross proceeds of $5,000.
The issuance to the investor relied on the exemption from registration provided
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DEFAULTS UPON SENIOR SECURITIES
−Removed: During June 2022, the Company sold
−Removed: a total of $250,000 worth of Units to U.S.
−Removed: Escrow Services Corporation and Kevin Leach, two accredited investors, which resulted in the
−Removed: issuance of two secured promissory notes with an aggregate principal amount of $250,000 for cash proceeds of $230,000 (net of an original
−Removed: issuance discount of $20,000), and the issuance of 125,000 warrants (see Note 5).
−Removed: The $20,000 was recorded as a debt discount and the
−Removed: conversion option embedded in the notes was bifurcated and accounted for as a derivative liability resulting in the Company recording
−Removed: a debt discount and derivative liability of $50,491.
−Removed: As a result of the Company’s equity environment being tainted the warrants
−Removed: qualified for derivative accounting and were assigned a value of $8,136 which was recorded as a derivative liability (see Note 8) and
−Removed: debt discount.
−Removed: The total debt discount of $78,627 is being amortized to interest expense over the term of the Note.
−Removed: Effective June 3,
−Removed: 2024 and June 16, 2024, these two secured promissory notes went into default, respectively .
+Added: During June 2022, the Company sold a total
+Added: of $250,000 worth of Units to U.S.
+Added: Escrow Services Corporation and Kevin Leach, two accredited investors, which resulted in the issuance
+Added: of two secured promissory notes with an aggregate principal amount of $250,000 for cash proceeds of $230,000 (net of an original issuance
+Added: discount of $20,000), and the issuance of 125,000 warrants.
+Added: These two convertible notes payable matured on June 30, 2024 and have not
+Added: been repaid .
+Added: During November
+Added: 2022, the Company sold a total of $200,000 worth of Units to Cestone Family Foundation and Michele and Agnese Cestone Foundation, two
+Added: accredited investors, which resulted in the issuance of two secured promissory notes with an aggregate principal amount of $200,000 for
+Added: cash proceeds of $180,000 (net of an original issuance discount of $20,000), and the issuance of 100,000 warrants.
+Added: These convertible notes
+Added: payable matured on November 15, 2024 and have not been repaid.
+Added: March 1, 2023, the Company entered into a promissory note agreement with an investor for the amount of $12,500 with interest bearing at
+Added: 15% per annum, maturity date of 120 days from issuance and issuance of 25,000 warrants with exercise price of $0.05 that expire on March
+Added: 1, 2028 (5 year).
+Added: The promissory note matured on June 30, 2023 and has not been repaid.
+Added: March 1, 2023, the Company entered into a promissory note agreement with an investor for the amount of $7,500 with interest bearing at
+Added: 15% per annum, maturity date of 120 days from issuance and issuance of 15,000 warrants with exercise price of $0.05 that expire on March
+Added: 1, 2028 (5 year).
+Added: The promissory note matured on June 30, 2023 and has not been repaid.
MINE SAFETY DISCLOSURES
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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.