Item 2. Unregistered Sales of Equity Securities
ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
During the six month period
ended June 30, 2021, we issued a total of 79,673,969 shares of our Common Stock valued at $8,237,072 for the conversion of outstanding
notes payable, reducing debt by $993,028 and interest payable by $38,201 and generating a loss on conversion of $7,205,843.
During the six months ended
June 30, 2020, we issued a total of 234,501,258 shares of our Common Stock valued at $1,160,690 for the conversion of outstanding notes
payable, reducing the debt by $324,769 and interest payable by $28,507 and generating a loss on conversion of $807,414.
We relied upon the exemption
from registration provided by Section 4(a)(2) of the Securities Act of 1933, as amended, to issue these shares.
Other than reduction of debt
from the conversion of the outstanding convertible notes payable described above, we did not receive any direct proceeds from the issuance
of these shares. The proceeds from the convertible notes payable were used for working capital.
ITEM 3. DEFAULTS UPON SENIOR SECURITIES
None.
ITEM 4. MINE SAFETY DISCLOSURE
Not Applicable.
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