Item 2. Unregistered Sales of Equity Securities
ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
During the nine month period
ended September 30, 2021, we issued a total of 103,673,969 shares of our Common Stock valued at $11,981,072 for the conversion of outstanding
notes payable, reducing debt by $1,233,028 and interest payable by $38,201 and generating a loss on conversion of $10,709,843. In addition,
we issued 60,000,000 shares of Common Stock valued at $918,000 to our Officers and Directors during the nine months ended September 30,
2021.
During the nine months ended
September 30, 2020, we issued a total of 269,099,306 shares of our Common Stock valued at $1,831,816 for the conversion of outstanding
notes payable, reducing the debt by $373,269 and interest payable by $42,233 and generating a loss on conversion of $1,416,314.
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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