OZOP ENERGY SOLUTIONS, INC. 10-Q

Item 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS The following represents all shares issued during the quarter ended March 31, 2022: On January 14, 2022, the Company issued 2,500,000 shares pursuant to an employment agreement. On January 14, 2022, the Company issued 2,500,000 shares pursuant to an employment agreement. The Company issued the foregoing securities in reliance on an exemption from registration provided by Section 4(a)(2) of the Securities Act of 1933, as amended, and/or Rule 506(b) promulgated thereunder, as there was no general solicitation to the investors and the transactions did not involve a public offering. Item 3. DEFAULTS UPON SENIOR SECURITIES On March 17, 2021, the Company entered into a 12%, $11,110,000 face value promissory note with a third- party lender with a maturity date of March 17, 2022. This note is now in default. As of March 31, 2022, the principal of $11,110,000 and the accrued interest of $1,362,421 is due. The Company is in discussions with the lender regarding the extension of the maturity date of this note. On February 9, 2021, the Company entered into a 12%, $2,200,000 face value promissory note with a third- party lender with a maturity date of February 9, 2022. This note is now in default. As of March 31, 2022, the principal of $2,200,000 and the accrued interest of $295,825 is due. The Company is in discussions with the lender regarding the extension of the maturity date of this note. 10 On November 13, 2020, the Company entered into a 12%, $1,000,000 face value promissory note with a third-party due November 13, 2021. This note is now in default. As of March 31, 2022, the principal is $1,000,000 and the accrued interest of $194,630 is due. The Company is in discussions with the lender regarding the extension of the maturity date of this note. Item 4. MINE SAFETY DISCLOSURE Not applicable.