Item 2. Unregistered Sales of Equity Securities
ITEM 2. UNREGISTERED SALES OF EQUITY
SECURITIES AND USE OF PROCEEDS
In the three months and six months ended June 30, 2023, the Company issued
1,150,000 shares in connection with convertible instruments. On May 10, 2023, the Company received $800,000 for the sale of convertible
notes with 12.0% interest and eighteen-month term to four individual investors totaling 800,000 shares with an exercise price of $1.00
per share, the notes included 400,000 warrants with an exercise price of $0.25 per warrant. On June 28, 2023, the Company received $350,000
for the sale of convertible notes with 12.0% interest and eighteen-month term to two individual investors totaling 350,000 shares with
an exercise price of $1.00 per share, the notes included 175,000 warrants with an exercise price of $0.25 per warrant. On August 10, 2023,
the Company received $1,100,000 for the sale of a convertible note. The note has a twelve -month term, is non-interest bearing and is
convertible into shares of common stock of the Company at $1.00 per share, the note includes 500 shares for every $1,000 purchased in
the note. These notes were issued to fund acquisitions, equipment purchases and working capital.
In the three months and six months ended June 30, 2023, the Company issued
216,666 shares of common stock to consultants in exchange for services and recognized non-cash compensation on our Condensed Consolidated
Statement of Operation in the amount of $131,866.
ITEM 3. DEFAULTS UPON SENIOR SECURITIES
None.
ITEM 4. MINE SAFETY DISCLOSURES
No disclosure required.
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