|9 Months Ended|
Sep. 30, 2023
|Subsequent Events [Abstract]|
12. Subsequent Events
The Company has discontinued the sale and operation of the Belly loyalty card platform. The last date of operation was October 15, 2023.
On November 10, 2023 three shareholders purchased convertible notes from the Company in the amount of $400,000. The Convertible Note accrues interest monthly at 8% per annum. Principal and accrued interest payments are due in full on November 8, 2026 under the Convertible Note. The Convertible Note and all accrued interest thereon are convertible into shares of our common stock, from time to time, at the option of the holder thereof, at a conversion price per share equal to the larger of either $0.50 or of the volume-weighted average price of our common stock quoted on the OTCQB ® Venture Market operated by OTC Markets Group Inc. over the thirty (30) trading days immediately preceding such date (the “Conversion Price”). For value received the shareholders received 666,668 warrants to purchase common shares at and exercise price of $0.60 per share over a year period ending November 10, 2026.
The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business.
Reference 1: http://www.xbrl.org/2003/role/disclosureRef