2024 Q3 Form 10-Q Financial Statement
#000107997324001225 Filed on August 14, 2024
Income Statement
| Concept | 2024 Q3 | 2024 Q2 |
|---|---|---|
| Revenue | $86.89K | |
| YoY Change | -43.36% | |
| Cost Of Revenue | $31.13K | $30.19K |
| YoY Change | -41.97% | -67.82% |
| Gross Profit | $31.71K | $56.70K |
| YoY Change | -804.64% | -4.83% |
| Gross Profit Margin | 65.25% | |
| Selling, General & Admin | $168.9K | $228.9K |
| YoY Change | -49.23% | -57.24% |
| % of Gross Profit | 532.52% | 403.79% |
| Research & Development | ||
| YoY Change | ||
| % of Gross Profit | ||
| Depreciation & Amortization | $28.86K | $31.82K |
| YoY Change | -9.72% | -0.49% |
| % of Gross Profit | 91.0% | 56.13% |
| Operating Expenses | $168.9K | $228.9K |
| YoY Change | -49.23% | -57.24% |
| Operating Profit | -$137.1K | -$172.2K |
| YoY Change | -59.31% | -63.8% |
| Interest Expense | $192.9K | $250.9K |
| YoY Change | 18.7% | 74.18% |
| % of Operating Profit | ||
| Other Income/Expense, Net | -$236.8K | -$250.9K |
| YoY Change | 45.72% | 74.18% |
| Pretax Income | -$423.2K | |
| YoY Change | -31.73% | |
| Income Tax | ||
| % Of Pretax Income | ||
| Net Earnings | -$374.0K | -$423.2K |
| YoY Change | -25.14% | -31.73% |
| Net Earnings / Revenue | -487.03% | |
| Basic Earnings Per Share | $0.00 | $0.00 |
| Diluted Earnings Per Share | $0.00 | $0.00 |
| COMMON SHARES | ||
| Basic Shares Outstanding | 260.2M shares | 260.2M shares |
| Diluted Shares Outstanding | 260.2M shares | 259.2M shares |
Balance Sheet
| Concept | 2024 Q3 | 2024 Q2 |
|---|---|---|
| SHORT-TERM ASSETS | ||
| Cash & Short-Term Investments | $62.18K | |
| YoY Change | 94.8% | |
| Cash & Equivalents | $2.326K | $62.18K |
| Short-Term Investments | ||
| Other Short-Term Assets | ||
| YoY Change | ||
| Inventory | ||
| Prepaid Expenses | $0.00 | |
| Receivables | $39.53K | $35.97K |
| Other Receivables | $0.00 | |
| Total Short-Term Assets | $41.86K | $98.15K |
| YoY Change | -82.57% | -45.45% |
| LONG-TERM ASSETS | ||
| Property, Plant & Equipment | $175.9K | $339.5K |
| YoY Change | -59.5% | -27.18% |
| Goodwill | ||
| YoY Change | ||
| Intangibles | ||
| YoY Change | ||
| Long-Term Investments | ||
| YoY Change | ||
| Other Assets | ||
| YoY Change | ||
| Total Long-Term Assets | $175.9K | $339.5K |
| YoY Change | -65.85% | -40.48% |
| TOTAL ASSETS | ||
| Total Short-Term Assets | $41.86K | $98.15K |
| Total Long-Term Assets | $175.9K | $339.5K |
| Total Assets | $217.7K | $437.6K |
| YoY Change | -71.17% | -41.67% |
| SHORT-TERM LIABILITIES | ||
| YoY Change | ||
| Accounts Payable | $1.624M | $1.791M |
| YoY Change | -7.93% | 0.75% |
| Accrued Expenses | $1.858M | $1.612M |
| YoY Change | 111.59% | 116.52% |
| Deferred Revenue | ||
| YoY Change | ||
| Short-Term Debt | $4.367M | |
| YoY Change | 21.17% | |
| Long-Term Debt Due | ||
| YoY Change | ||
| Total Short-Term Liabilities | $8.399M | $8.245M |
| YoY Change | 14.24% | 14.98% |
| LONG-TERM LIABILITIES | ||
| Long-Term Debt | $0.00 | |
| YoY Change | -100.0% | |
| Other Long-Term Liabilities | $0.00 | |
| YoY Change | ||
| Total Long-Term Liabilities | $0.00 | |
| YoY Change | -100.0% | |
| TOTAL LIABILITIES | ||
| Total Short-Term Liabilities | $8.399M | $8.245M |
| Total Long-Term Liabilities | $0.00 | |
| Total Liabilities | $8.399M | $8.245M |
| YoY Change | 14.24% | 14.85% |
| SHAREHOLDERS EQUITY | ||
| Retained Earnings | -$57.35M | -$56.97M |
| YoY Change | 2.99% | 3.25% |
| Common Stock | $260.2K | $260.2K |
| YoY Change | 0.39% | 1.17% |
| Preferred Stock | ||
| YoY Change | ||
| Treasury Stock (at cost) | ||
| YoY Change | ||
| Treasury Stock Shares | ||
| Shareholders Equity | -$8.182M | -$7.808M |
| YoY Change | ||
| Total Liabilities & Shareholders Equity | $217.7K | $437.6K |
| YoY Change | -71.17% | -41.67% |
Cashflow Statement
| Concept | 2024 Q3 | 2024 Q2 |
|---|---|---|
| OPERATING ACTIVITIES | ||
| Net Income | -$374.0K | -$423.2K |
| YoY Change | -25.14% | -31.73% |
| Depreciation, Depletion And Amortization | $28.86K | $31.82K |
| YoY Change | -9.72% | -0.49% |
| Cash From Operating Activities | -$66.61K | |
| YoY Change | -85.01% | |
| INVESTING ACTIVITIES | ||
| Capital Expenditures | ||
| YoY Change | ||
| Acquisitions | ||
| YoY Change | ||
| Other Investing Activities | ||
| YoY Change | ||
| Cash From Investing Activities | ||
| YoY Change | ||
| FINANCING ACTIVITIES | ||
| Cash Dividend Paid | ||
| YoY Change | ||
| Common Stock Issuance & Retirement, Net | ||
| YoY Change | ||
| Debt Paid & Issued, Net | ||
| YoY Change | ||
| Cash From Financing Activities | 125.0K | |
| YoY Change | -71.94% | |
| NET CHANGE | ||
| Cash From Operating Activities | -66.61K | |
| Cash From Investing Activities | ||
| Cash From Financing Activities | 125.0K | |
| Net Change In Cash | 58.39K | |
| YoY Change | 4725.62% | |
| FREE CASH FLOW | ||
| Cash From Operating Activities | -$66.61K | |
| Capital Expenditures | ||
| Free Cash Flow | ||
| YoY Change |
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<p id="xdx_840_eus-gaap--UseOfEstimates_zmammOekzeVd" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b><i>(A) <span><span id="xdx_86A_zUVqJBQdfKLl">Use of Estimates in Financial Statements</span></span></i></b></p> <p style="font: 10pt/10.6pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt/106% Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 25.5pt">The presentation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt/105% Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 25.5pt">Stock-based compensation and stock awards related to convertible debt instruments are recognized based on the fair value of the awards granted. The fair value of each award or conversion feature is typically estimated on the grant date using the Black-Scholes pricing model. The Black-Scholes pricing model requires the input of highly subjective assumptions, including the fair value of the underlying Common Stock, the expected term of the option, the expected volatility of the price of our Common Stock, risk-free interest rates and the expected dividend yield of our Common Stock. The assumptions used to determine the fair value of the stock awards represent management’s best estimates. These estimates involve inherent uncertainties and the application of management’s judgment.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt/115% Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 25.5pt">The Company used the Black Scholes valuation model to determine the fair value of the warrants and options issued, using the following key assumptions for the three and six months ended June 30, 2024 and 2023, respectively:</p> <table cellpadding="0" cellspacing="0" id="xdx_89D_eus-gaap--FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock_zkESBRtdyQ05" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)"> <tr style="vertical-align: bottom"> <td><span id="xdx_8B5_zH0uq32rPsR4" style="display: none">Schedule of fair value assumptions of warrants and options issued</span></td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td style="font-size: 8pt; font-weight: bold"> </td> <td style="font-size: 8pt; font-weight: bold; text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-size: 8pt"><b>Six months ended</b></span> <span style="font-size: 8pt"><b>June 30, 2024</b></span> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="font-size: 8pt; font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: center">Six months ended June 30, 2023</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 66%">Expected price volatility</td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right"><span id="xdx_900_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_dp0_c20240101__20240630_zHVKQONKTg5k" title="Expected price volatility">—</span> </td><td style="width: 1%; text-align: left">%</td><td style="width: 1%"> </td> <td style="text-align: right"><span id="xdx_908_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_dp0_c20230101__20230630_zOvClyd8jGf9" title="Expected price volatility">—</span> </td><td style="width: 1%">%</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Risk-free interest rate</td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_d0_c20240101__20240630_zIOvwwMRzkze" title="Risk-free interest rate">—</span> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"><span id="xdx_90B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_dp0_c20230101__20230630_zAngBhZ0tG1l" title="Risk-free interest rate">—</span> </td><td> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Expected life in years</td> <td style="text-align: left"> </td><td style="text-align: right">— </td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">— </td><td> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Dividend yield</td> <td style="text-align: left"> </td><td style="text-align: right"> <span id="xdx_90C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendPayments_pp0p0_dp0_c20240101__20240630_zxemmTkdTuGf" title="Dividend yield">—</span> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"><span id="xdx_90C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendPayments_pp0p0_dp0_c20230101__20230630_zle7BGTypDs4" title="Dividend yield">—</span> </td><td> </td> </tr> </table> <p id="xdx_8A7_zaQXeNfIJUbe" style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> | ||
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| CY2024Q2 | basa |
Property And Equipment Gross
PropertyAndEquipmentGross
|
931438 | usd |
| CY2023Q4 | basa |
Property And Equipment Gross
PropertyAndEquipmentGross
|
931438 | usd |
| CY2024Q2 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
591952 | usd |
| CY2023Q4 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
529167 | usd |
| CY2024Q2 | us-gaap |
Property Plant And Equipment Other
PropertyPlantAndEquipmentOther
|
339486 | usd |
| CY2023Q4 | us-gaap |
Property Plant And Equipment Other
PropertyPlantAndEquipmentOther
|
402271 | usd |
| CY2024Q2 | us-gaap |
Depreciation
Depreciation
|
31823 | usd |
| us-gaap |
Depreciation
Depreciation
|
31962 | usd | |
| CY2023Q2 | us-gaap |
Depreciation
Depreciation
|
32064 | usd |
| us-gaap |
Depreciation
Depreciation
|
32203 | usd | |
| us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
130846509 | shares | |
| CY2022 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
134789603 | shares |
| CY2024Q2 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
0 | usd |
| us-gaap |
Share Based Compensation
ShareBasedCompensation
|
15000 | usd | |
| CY2024Q2 | basa |
Shipping And Handling Costs
ShippingAndHandlingCosts
|
1926 | usd |
| basa |
Shipping And Handling Costs
ShippingAndHandlingCosts
|
2075 | usd | |
| CY2023Q2 | basa |
Shipping And Handling Costs
ShippingAndHandlingCosts
|
350 | usd |
| basa |
Shipping And Handling Costs
ShippingAndHandlingCosts
|
6666 | usd | |
| CY2019Q1 | basa |
Base Rent Obligation
BaseRentObligation
|
33825 | usd |
| CY2024Q2 | us-gaap |
Payments For Rent
PaymentsForRent
|
3000 | usd |
| CY2023Q2 | us-gaap |
Payments For Rent
PaymentsForRent
|
6000 | usd |
| us-gaap |
Payments For Rent
PaymentsForRent
|
0 | usd | |
| us-gaap |
Payments For Rent
PaymentsForRent
|
0 | usd | |
| CY2024Q2 | us-gaap |
Other Notes Payable
OtherNotesPayable
|
270000 | usd |
| CY2023Q4 | us-gaap |
Other Notes Payable
OtherNotesPayable
|
299458 | usd |
| CY2024Q2 | us-gaap |
Proceeds From Repayments Of Notes Payable
ProceedsFromRepaymentsOfNotesPayable
|
0 | usd |
| us-gaap |
Proceeds From Repayments Of Notes Payable
ProceedsFromRepaymentsOfNotesPayable
|
0 | usd | |
| CY2024Q2 | us-gaap |
Interest Expense Debt
InterestExpenseDebt
|
20100 | usd |
| us-gaap |
Interest Expense Debt
InterestExpenseDebt
|
37134 | usd | |
| CY2023Q2 | us-gaap |
Interest Expense Debt
InterestExpenseDebt
|
17051 | usd |
| us-gaap |
Interest Expense Debt
InterestExpenseDebt
|
34102 | usd | |
| CY2024Q2 | us-gaap |
Interest Payable Current
InterestPayableCurrent
|
196764 | usd |
| CY2023Q4 | us-gaap |
Interest Payable Current
InterestPayableCurrent
|
159630 | usd |
| basa |
Notes Payable Related Party Textblock
NotesPayableRelatedPartyTextblock
|
<p id="xdx_805_ecustom--NotesPayableRelatedPartyTextblock_z4c9Yw4mmSNl" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b>NOTE 5 – <span id="xdx_826_zXjjMzCcLTe3">NOTES PAYABLE – RELATED PARTY</span></b></p> <p style="font: 10pt/10.8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 30pt">Notes payable - related party totaled $<span id="xdx_90B_ecustom--NotesPayableRelatedPartyCurrentAndNoncurrent_c20240630_pp0p0" title="Notes payable - related party">1,953,000</span> March 31, 2024 and $<span id="xdx_905_ecustom--NotesPayableRelatedPartyCurrentAndNoncurrent_c20231231_pp0p0" title="Notes payable - related party">1,750,000</span> December 31, 2023, respectively.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 29.15pt">On January 16, 2020, the Company entered into a demand note agreement with our Board Chairman, Michael V. Barbera, in the amount of $<span id="xdx_907_eus-gaap--DebtInstrumentFaceAmount_c20200116__srt--CounterpartyNameAxis__custom--MichaelVBarberaMember__us-gaap--TransactionTypeAxis__custom--PromissoryNoteMember_pp0p0" title="Face amount">50,000</span>. The note has a term of 6 months bearing an interest rate of <span id="xdx_908_eus-gaap--DebtInstrumentInterestRateStatedPercentage_c20200116__srt--CounterpartyNameAxis__custom--MichaelVBarberaMember__us-gaap--TransactionTypeAxis__custom--PromissoryNoteMember_pdd" title="Interest rate">10%</span> per annum. On April 13, 2020, an addendum was executed changing the terms of the note to a convertible note payable bearing an interest rate of <span id="xdx_908_eus-gaap--DebtInstrumentInterestRateStatedPercentage_c20200413__srt--CounterpartyNameAxis__custom--MichaelVBarberaMember__us-gaap--TransactionTypeAxis__custom--PromissoryNoteMember_pdd" title="Interest rate">12%</span> per annum. Per the addendum, the principal and accrued interest is convertible at the option of the holder after June 5, 2020 at a 20% discount of that days’ closing price. See Note 6 for information regarding this convertible note payable – related party.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 29.15pt">On April 2, 2021, the Company issued a promissory note with Paul Sallarulo, a member of our Board of Directors, in exchange for $<span id="xdx_904_eus-gaap--DebtInstrumentFaceAmount_c20210402__srt--CounterpartyNameAxis__custom--PaulSallaruloMember__us-gaap--TransactionTypeAxis__custom--PromissoryNoteMember_pp0p0" title="Face amount">150,000</span> bearing an interest rate of <span id="xdx_909_eus-gaap--DebtInstrumentInterestRateStatedPercentage_c20210402__srt--CounterpartyNameAxis__custom--PaulSallaruloMember__us-gaap--TransactionTypeAxis__custom--PromissoryNoteMember_pdd" title="Interest rate">18%</span> per annum and payable on <span id="xdx_905_eus-gaap--DebtInstrumentMaturityDate_c20210401__20210402__srt--CounterpartyNameAxis__custom--PaulSallaruloMember__us-gaap--TransactionTypeAxis__custom--PromissoryNoteMember" title="Maturity date">October 2, 2022</span>. The company also issued <span id="xdx_906_eus-gaap--ClassOfWarrantOrRightOutstanding_c20210402__srt--CounterpartyNameAxis__custom--PaulSallaruloMember__us-gaap--TransactionTypeAxis__custom--PromissoryNoteMember_pdd" title="Issuance of shares">1,500,000</span> common stock warrants at an exercise price of $0.20 per share expiring in 5 years. The note was not paid by its due date. On April 2, 2022, the due date of this note was extended to <span id="xdx_908_eus-gaap--DebtInstrumentMaturityDate_c20220401__20220402__srt--CounterpartyNameAxis__custom--PaulSallaruloMember__us-gaap--TransactionTypeAxis__custom--PromissoryNoteMember" title="Maturity date">April 1, 2024</span>. As of the date of this report, the note has not been called.</p> <p style="font: 4pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 29.15pt">On April 2, 2021, the Company issued a promissory note with Michael V. Barbera, our Chairman of the Board, in exchange for $<span id="xdx_906_eus-gaap--DebtInstrumentFaceAmount_c20210402__srt--CounterpartyNameAxis__custom--MichaelVBarberaMember__us-gaap--TransactionTypeAxis__custom--PromissoryNoteMember_pp0p0" title="Face amount">150,000</span> bearing an interest rate of <span id="xdx_909_eus-gaap--DebtInstrumentInterestRateStatedPercentage_c20210402__srt--CounterpartyNameAxis__custom--MichaelVBarberaMember__us-gaap--TransactionTypeAxis__custom--PromissoryNoteMember_pdd" title="Interest rate">18%</span> per annum and payable on <span id="xdx_907_eus-gaap--DebtInstrumentMaturityDate_c20210401__20210402__srt--CounterpartyNameAxis__custom--MichaelVBarberaMember__us-gaap--TransactionTypeAxis__custom--PromissoryNoteMember" title="Maturity date">October 2, 2022</span>. The company also issued <span id="xdx_906_eus-gaap--ClassOfWarrantOrRightOutstanding_c20210402__srt--CounterpartyNameAxis__custom--MichaelVBarberaMember__us-gaap--TransactionTypeAxis__custom--PromissoryNoteMember_pdd" title="Issuance of shares">1,500,000</span> common stock warrants at an exercise price of $0.20 per share expiring in 5 years. The note was not paid by its due date. On April 2, 2022, the due date of this note was extended to <span id="xdx_905_eus-gaap--DebtInstrumentMaturityDate_c20220401__20220402__srt--CounterpartyNameAxis__custom--MichaelVBarberaMember__us-gaap--TransactionTypeAxis__custom--PromissoryNoteMember" title="Maturity date">April 1, 2024</span>. As of the date of this report, the note has not been called.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt/10.2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 29.15pt">On August 31, 2022 the Company issued a promissory note to a board member in exchange for $<span id="xdx_90A_eus-gaap--DebtInstrumentFaceAmount_c20220831__us-gaap--TransactionTypeAxis__custom--PromissoryNoteMember_pp0p0" title="Face amount">37,000</span> bearing an interest rate of <span id="xdx_90B_eus-gaap--DebtInstrumentInterestRateStatedPercentage_c20220831__us-gaap--TransactionTypeAxis__custom--PromissoryNoteMember_pdd" title="Interest rate">10%</span> per annum and payable on <span id="xdx_906_eus-gaap--DebtInstrumentMaturityDate_c20220830__20220831__us-gaap--TransactionTypeAxis__custom--PromissoryNoteMember" title="Maturity date">August 31, 2024</span>.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 29.15pt">On August 22, 2022 the Company issued a promissory note to a board member in exchange for $<span id="xdx_90A_eus-gaap--DebtInstrumentFaceAmount_c20220822__us-gaap--TransactionTypeAxis__custom--PromissoryNoteMember_pp0p0" title="Face amount">20,000</span> bearing an interest rate of <span id="xdx_90B_eus-gaap--DebtInstrumentInterestRateStatedPercentage_c20220822__us-gaap--TransactionTypeAxis__custom--PromissoryNoteMember_pdd" title="Interest rate">10%</span> per annum and payable on <span id="xdx_906_eus-gaap--DebtInstrumentMaturityDate_c20220821__20220822__us-gaap--TransactionTypeAxis__custom--PromissoryNoteMember" title="Maturity date">August 22, 2024</span>.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt/10.2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 29.15pt">On August 22, 2022 the Company issued a promissory note to a board member in exchange for $<span id="xdx_90E_eus-gaap--DebtInstrumentFaceAmount_c20220822__us-gaap--TransactionTypeAxis__custom--PromissoryNote1Member_pp0p0" title="Face amount">5,000</span> bearing an interest rate of <span id="xdx_90D_eus-gaap--DebtInstrumentInterestRateStatedPercentage_c20220822__us-gaap--TransactionTypeAxis__custom--PromissoryNote1Member_pdd" title="Interest rate">10%</span> per annum and payable on <span id="xdx_906_eus-gaap--DebtInstrumentMaturityDate_c20220821__20220822__us-gaap--TransactionTypeAxis__custom--PromissoryNote1Member" title="Maturity date">August 22, 2024</span>.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt/10.2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 29.15pt">On August 29, 2022 the Company issued a promissory note to a board member in exchange for $<span id="xdx_902_eus-gaap--DebtInstrumentFaceAmount_c20220829__us-gaap--TransactionTypeAxis__custom--PromissoryNoteMember_pp0p0" title="Face amount">25,000</span> bearing an interest rate of <span id="xdx_902_eus-gaap--DebtInstrumentInterestRateStatedPercentage_c20220829__us-gaap--TransactionTypeAxis__custom--PromissoryNoteMember_pdd" title="Interest rate">10%</span> per annum and payable on <span id="xdx_909_eus-gaap--DebtInstrumentMaturityDate_c20220828__20220829__us-gaap--TransactionTypeAxis__custom--PromissoryNoteMember" title="Maturity date">August 29, 2024</span>.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt/10.2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 29.15pt">On August 29, 2022 the Company issued a promissory note to a board member in exchange for $<span id="xdx_909_eus-gaap--DebtInstrumentFaceAmount_c20220829__us-gaap--TransactionTypeAxis__custom--PromissoryNote1Member_pp0p0" title="Face amount">10,000</span> bearing an interest rate of <span id="xdx_906_eus-gaap--DebtInstrumentInterestRateStatedPercentage_c20220829__us-gaap--TransactionTypeAxis__custom--PromissoryNote1Member_pdd" title="Interest rate">10%</span> per annum and payable on <span id="xdx_903_eus-gaap--DebtInstrumentMaturityDate_c20220828__20220829__us-gaap--TransactionTypeAxis__custom--PromissoryNote1Member" title="Maturity date">August 29, 2024</span>.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt/10.2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 29.15pt">On August 31, 2022 the Company issued a promissory note to a board member in exchange for $<span id="xdx_90E_eus-gaap--DebtInstrumentFaceAmount_c20220831__us-gaap--TransactionTypeAxis__custom--PromissoryNote1Member_pp0p0" title="Face amount">13,000</span> bearing an interest rate of <span id="xdx_90D_eus-gaap--DebtInstrumentInterestRateStatedPercentage_c20220831__us-gaap--TransactionTypeAxis__custom--PromissoryNote1Member_pdd" title="Interest rate">10%</span> per annum and payable on <span id="xdx_906_eus-gaap--DebtInstrumentMaturityDate_c20220830__20220831__us-gaap--TransactionTypeAxis__custom--PromissoryNote1Member" title="Maturity date">August 31, 2024</span>.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt/10.2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 29.15pt">On September 9, 2022 the Company issued a promissory note to a board member in exchange for $<span id="xdx_901_eus-gaap--DebtInstrumentFaceAmount_c20220909__us-gaap--TransactionTypeAxis__custom--PromissoryNoteMember_pp0p0" title="Face amount">60,000</span> bearing an interest rate of <span id="xdx_90D_eus-gaap--DebtInstrumentInterestRateStatedPercentage_c20220909__us-gaap--TransactionTypeAxis__custom--PromissoryNoteMember_pdd" title="Interest rate">10%</span> per annum and payable on <span id="xdx_90B_eus-gaap--DebtInstrumentMaturityDate_c20220908__20220909__us-gaap--TransactionTypeAxis__custom--PromissoryNoteMember" title="Maturity date">August 16, 2024</span>.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt/10.2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 29.15pt">On September 9, 2022 the Company issued a promissory note to a board member in exchange for $<span id="xdx_908_eus-gaap--DebtInstrumentFaceAmount_c20220909__us-gaap--TransactionTypeAxis__custom--PromissoryNote1Member_pp0p0" title="Face amount">10,000</span> bearing an interest rate of <span id="xdx_907_eus-gaap--DebtInstrumentInterestRateStatedPercentage_c20220909__us-gaap--TransactionTypeAxis__custom--PromissoryNote1Member_pdd" title="Interest rate">10%</span> per annum and payable on <span id="xdx_90D_eus-gaap--DebtInstrumentMaturityDate_c20220908__20220909__us-gaap--TransactionTypeAxis__custom--PromissoryNote1Member" title="Maturity date">September 9, 2024</span>.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 29.15pt">On September 9, 2022 the Company issued a promissory note to a strategic partner in exchange for $<span id="xdx_909_eus-gaap--DebtInstrumentFaceAmount_c20220909__us-gaap--TransactionTypeAxis__custom--PromissoryNote2Member_pp0p0" title="Face amount">10,000</span> bearing an interest rate of <span id="xdx_906_eus-gaap--DebtInstrumentInterestRateStatedPercentage_c20220909__us-gaap--TransactionTypeAxis__custom--PromissoryNote2Member_pdd" title="Interest rate">10%</span> per annum and payable on <span id="xdx_90C_eus-gaap--DebtInstrumentMaturityDate_c20220908__20220909__us-gaap--TransactionTypeAxis__custom--PromissoryNote2Member" title="Maturity date">September 9, 2024</span>.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt/10.2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 29.15pt">On September 9, 2022 the Company issued a promissory note to a strategic partner in exchange for $<span id="xdx_906_eus-gaap--DebtInstrumentFaceAmount_c20220909__us-gaap--TransactionTypeAxis__custom--PromissoryNote3Member_pp0p0" title="Face amount">15,000</span> bearing an interest rate of <span id="xdx_905_eus-gaap--DebtInstrumentInterestRateStatedPercentage_c20220909__us-gaap--TransactionTypeAxis__custom--PromissoryNote3Member_pdd" title="Interest rate">10%</span> per annum and payable on <span id="xdx_903_eus-gaap--DebtInstrumentMaturityDate_c20220908__20220909__us-gaap--TransactionTypeAxis__custom--PromissoryNote3Member" title="Maturity date">September 9, 2024</span>.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt/10.2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 29.15pt">On September 9, 2022 the Company issued a promissory note to an investor and advisor to the board, in exchange for $<span id="xdx_907_eus-gaap--DebtInstrumentFaceAmount_c20220909__us-gaap--TransactionTypeAxis__custom--PromissoryNote4Member_pp0p0" title="Face amount">15,000</span> bearing an interest rate of <span id="xdx_904_eus-gaap--DebtInstrumentInterestRateStatedPercentage_c20220909__us-gaap--TransactionTypeAxis__custom--PromissoryNote4Member_pdd" title="Interest rate">10%</span> per annum and payable on <span id="xdx_902_eus-gaap--DebtInstrumentMaturityDate_c20220908__20220909__us-gaap--TransactionTypeAxis__custom--PromissoryNote4Member" title="Maturity date">September 9, 2024</span>.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt/10.2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 29.15pt">On September 22, 2022 the Company issued a promissory note to a board member in exchange for $<span id="xdx_904_eus-gaap--DebtInstrumentFaceAmount_c20220922__us-gaap--TransactionTypeAxis__custom--PromissoryNoteMember_pp0p0" title="Face amount">42,500</span> bearing an interest rate of <span id="xdx_908_eus-gaap--DebtInstrumentInterestRateStatedPercentage_c20220922__us-gaap--TransactionTypeAxis__custom--PromissoryNoteMember_pdd" title="Interest rate">18%</span> per annum and payable on <span id="xdx_904_eus-gaap--DebtInstrumentMaturityDate_c20220921__20220922__us-gaap--TransactionTypeAxis__custom--PromissoryNoteMember" title="Maturity date">September 22, 2024</span>.</p> <p style="font: 10pt/10.2pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 29.15pt"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 29.15pt">On February 14, 2023 the Company issued a promissory note to a board member in exchange for $<span id="xdx_90E_eus-gaap--DebtInstrumentFaceAmount_c20230214__us-gaap--TransactionTypeAxis__custom--PromissoryNoteMember_pp0p0" title="Face amount">10,000</span> bearing an interest rate of <span id="xdx_906_eus-gaap--DebtInstrumentInterestRateStatedPercentage_c20230214__us-gaap--TransactionTypeAxis__custom--PromissoryNoteMember_pdd" title="Interest rate">20%</span> per annum and payable on <span id="xdx_90E_eus-gaap--DebtInstrumentMaturityDate_c20230213__20230214__us-gaap--TransactionTypeAxis__custom--PromissoryNoteMember" title="Maturity date">February 13, 2024</span>.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 29.15pt">On February 24, 2023 the Company issued a promissory note to a board member in exchange for $<span id="xdx_909_eus-gaap--DebtInstrumentFaceAmount_c20230224__us-gaap--TransactionTypeAxis__custom--PromissoryNoteMember_pp0p0" title="Face amount">50,000</span> bearing an interest rate of <span id="xdx_905_eus-gaap--DebtInstrumentInterestRateStatedPercentage_c20230224__us-gaap--TransactionTypeAxis__custom--PromissoryNoteMember_pdd" title="Interest rate">20%</span> per annum and payable on <span id="xdx_90C_eus-gaap--DebtInstrumentMaturityDate_c20230223__20230224__us-gaap--TransactionTypeAxis__custom--PromissoryNoteMember" title="Maturity date">February 23, 2024</span>.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 29.15pt">On March 3, 2023 the Company issued a promissory note to a board member in exchange for $<span id="xdx_90F_eus-gaap--DebtInstrumentFaceAmount_c20230303__us-gaap--TransactionTypeAxis__custom--PromissoryNoteMember_pp0p0" title="Face amount">15,000</span> bearing an interest rate of <span id="xdx_907_eus-gaap--DebtInstrumentInterestRateStatedPercentage_c20230303__us-gaap--TransactionTypeAxis__custom--PromissoryNoteMember_pdd" title="Interest rate">20%</span> per annum and payable on <span id="xdx_90F_eus-gaap--DebtInstrumentMaturityDate_c20230301__20230303__us-gaap--TransactionTypeAxis__custom--PromissoryNoteMember" title="Maturity date">March 2, 2024</span>.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 29.15pt">On March 24, 2023 the Company issued a promissory note to a board member in exchange for $<span id="xdx_908_eus-gaap--DebtInstrumentFaceAmount_c20230324__us-gaap--TransactionTypeAxis__custom--PromissoryNoteMember_pp0p0" title="Face amount">15,000</span> bearing an interest rate of <span id="xdx_904_eus-gaap--DebtInstrumentInterestRateStatedPercentage_c20230324__us-gaap--TransactionTypeAxis__custom--PromissoryNoteMember_pdd" title="Interest rate">20%</span> per annum and payable on <span id="xdx_90A_eus-gaap--DebtInstrumentMaturityDate_c20230323__20230324__us-gaap--TransactionTypeAxis__custom--PromissoryNoteMember" title="Maturity date">March 23, 2024</span>.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 29.15pt">On April 12, 2023 the Company issued a promissory note to a board member in exchange for $<span id="xdx_90E_eus-gaap--DebtInstrumentFaceAmount_c20230412__us-gaap--TransactionTypeAxis__custom--PromissoryNoteMember_pp0p0" title="Face amount">150,000</span> bearing an interest rate of <span id="xdx_906_eus-gaap--DebtInstrumentInterestRateStatedPercentage_c20230412__us-gaap--TransactionTypeAxis__custom--PromissoryNoteMember_pdd" title="Interest rate">20%</span> per annum and payable on <span id="xdx_90E_eus-gaap--DebtInstrumentMaturityDate_c20230411__20230412__us-gaap--TransactionTypeAxis__custom--PromissoryNoteMember" title="Maturity date">April 11, 2024</span>.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 29.15pt">On April 28, 2023 the Company issued a promissory note to a board member in exchange for $<span id="xdx_906_eus-gaap--DebtInstrumentFaceAmount_c20230428__us-gaap--TransactionTypeAxis__custom--PromissoryNoteMember_pp0p0" title="Face amount">100,000</span> bearing an interest rate of <span id="xdx_90E_eus-gaap--DebtInstrumentInterestRateStatedPercentage_c20230428__us-gaap--TransactionTypeAxis__custom--PromissoryNoteMember_pdd" title="Interest rate">20%</span> per annum and payable on <span id="xdx_900_eus-gaap--DebtInstrumentMaturityDate_c20230427__20230428__us-gaap--TransactionTypeAxis__custom--PromissoryNoteMember" title="Maturity date">April 27, 2024</span>.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 29.15pt"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 29.15pt">On May 12, 2023 the Company issued a promissory note to a board member in exchange for $<span id="xdx_909_eus-gaap--DebtInstrumentFaceAmount_c20230512__us-gaap--TransactionTypeAxis__custom--PromissoryNoteMember_pp0p0" title="Face amount">100,000</span> bearing an interest rate of <span id="xdx_905_eus-gaap--DebtInstrumentInterestRateStatedPercentage_c20230512__us-gaap--TransactionTypeAxis__custom--PromissoryNoteMember_pdd" title="Interest rate">20%</span> per annum and payable on <span id="xdx_90C_eus-gaap--DebtInstrumentMaturityDate_c20230511__20230512__us-gaap--TransactionTypeAxis__custom--PromissoryNoteMember" title="Maturity date">May 11, 2024</span>.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 29.15pt">On June 5, 2023 the Company issued a promissory note to a board member in exchange for $<span id="xdx_90A_eus-gaap--DebtInstrumentFaceAmount_c20230605__us-gaap--TransactionTypeAxis__custom--PromissoryNoteMember_pp0p0" title="Face amount">100,000</span> bearing an interest rate of <span id="xdx_90B_eus-gaap--DebtInstrumentInterestRateStatedPercentage_c20230605__us-gaap--TransactionTypeAxis__custom--PromissoryNoteMember_pdd" title="Interest rate">20%</span> per annum and payable on <span id="xdx_906_eus-gaap--DebtInstrumentMaturityDate_c20230604__20230605__us-gaap--TransactionTypeAxis__custom--PromissoryNoteMember" title="Maturity date">June 4, 2024</span>.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 29.15pt"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 29.15pt">On July 25, 2023 the Company issued a promissory note to a board member in exchange for $<span id="xdx_905_eus-gaap--DebtInstrumentFaceAmount_c20230625__us-gaap--TransactionTypeAxis__custom--PromissoryNoteMember_pp0p0" title="Face amount">200,000</span> bearing an interest rate of <span id="xdx_909_eus-gaap--DebtInstrumentInterestRateStatedPercentage_c20230625__us-gaap--TransactionTypeAxis__custom--PromissoryNoteMember_pdd" title="Interest rate">20%</span> per annum and payable on <span id="xdx_902_eus-gaap--DebtInstrumentMaturityDate_c20230624__20230625__us-gaap--TransactionTypeAxis__custom--PromissoryNoteMember" title="Maturity date">July 24, 2024</span>.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 29.15pt"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 29.15pt">On September 11, 2023 the Company issued a promissory note to a board member in exchange for $<span id="xdx_90A_eus-gaap--DebtInstrumentFaceAmount_c20230911__us-gaap--TransactionTypeAxis__custom--PromissoryNoteMember_pp0p0" title="Face amount">150,000</span> bearing an interest rate of <span id="xdx_90B_eus-gaap--DebtInstrumentInterestRateStatedPercentage_c20230911__us-gaap--TransactionTypeAxis__custom--PromissoryNoteMember_pdd" title="Interest rate">20%</span> per annum and payable on <span id="xdx_906_eus-gaap--DebtInstrumentMaturityDate_c20230910__20230911__us-gaap--TransactionTypeAxis__custom--PromissoryNoteMember" title="Maturity date">September 10, 2024</span>.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 29.15pt"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 29.15pt">On September 11, 2023 the Company issued a promissory note to an advisor to the board in exchange for $<span id="xdx_90E_eus-gaap--DebtInstrumentFaceAmount_c20230911__us-gaap--TransactionTypeAxis__custom--PromissoryNote1Member_pp0p0" title="Face amount">50,000</span> bearing an interest rate of <span id="xdx_90D_eus-gaap--DebtInstrumentInterestRateStatedPercentage_c20230911__us-gaap--TransactionTypeAxis__custom--PromissoryNote1Member_pdd" title="Interest rate">20%</span> per annum and payable on <span id="xdx_906_eus-gaap--DebtInstrumentMaturityDate_c20230910__20230911__us-gaap--TransactionTypeAxis__custom--PromissoryNote1Member" title="Maturity date">September 10, 2024</span>.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 29.15pt"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 29.15pt">On November 2, 2023 the Company issued a promissory note to a board member in exchange for $<span id="xdx_90D_eus-gaap--DebtInstrumentFaceAmount_c20231102__us-gaap--TransactionTypeAxis__custom--PromissoryNoteMember_pp0p0" title="Face amount">100,000</span> bearing an interest rate of <span id="xdx_901_eus-gaap--DebtInstrumentInterestRateStatedPercentage_c20231102__us-gaap--TransactionTypeAxis__custom--PromissoryNoteMember_pdd" title="Interest rate">20%</span> per annum and payable on <span id="xdx_90A_eus-gaap--DebtInstrumentMaturityDate_c20231101__20231102__us-gaap--TransactionTypeAxis__custom--PromissoryNoteMember" title="Maturity date">November 1, 2024</span>.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 29.15pt"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 29.15pt">On December 12, 2023 the Company issued a promissory note to a board member in exchange for $<span id="xdx_90F_eus-gaap--DebtInstrumentFaceAmount_c20231212__us-gaap--TransactionTypeAxis__custom--PromissoryNoteMember_pp0p0" title="Face amount">75,000</span> bearing an interest rate of <span id="xdx_907_eus-gaap--DebtInstrumentInterestRateStatedPercentage_c20231212__us-gaap--TransactionTypeAxis__custom--PromissoryNoteMember_pdd" title="Interest rate">20%</span> per annum and payable on <span id="xdx_90F_eus-gaap--DebtInstrumentMaturityDate_c20231201__20231212__us-gaap--TransactionTypeAxis__custom--PromissoryNoteMember" title="Maturity date">December 11, 2024</span>.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 29.15pt">On January 9, 2024 the Company issued a promissory note to a board member in exchange for $<span id="xdx_90A_eus-gaap--DebtInstrumentFaceAmount_c20240109__us-gaap--TransactionTypeAxis__custom--PromissoryNoteMember_pp0p0" title="Face amount">23,000</span> bearing an interest rate of <span id="xdx_90B_eus-gaap--DebtInstrumentInterestRateStatedPercentage_c20240109__us-gaap--TransactionTypeAxis__custom--PromissoryNoteMember_pdd" title="Interest rate">20%</span> per annum and payable on <span id="xdx_906_eus-gaap--DebtInstrumentMaturityDate_c20240108__20240109__us-gaap--TransactionTypeAxis__custom--PromissoryNoteMember" title="Maturity date">January 8, 2025</span>.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 29.15pt"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 29.15pt">On March 6, 2024 the Company issued a promissory note to a board member in exchange for $<span id="xdx_90B_eus-gaap--DebtInstrumentFaceAmount_c20240306__us-gaap--TransactionTypeAxis__custom--PromissoryNoteMember_pp0p0" title="Face amount">40,000</span> bearing an interest rate of <span id="xdx_90A_eus-gaap--DebtInstrumentInterestRateStatedPercentage_c20240306__us-gaap--TransactionTypeAxis__custom--PromissoryNoteMember_pdd" title="Interest rate">20%</span> per annum and payable on <span id="xdx_908_eus-gaap--DebtInstrumentMaturityDate_c20240305__20240306__us-gaap--TransactionTypeAxis__custom--PromissoryNoteMember" title="Maturity date">March 5, 2025</span>.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 29.15pt"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 29.15pt">On March 21, 2024 the Company issued a promissory note to a board member in exchange for $<span id="xdx_90E_eus-gaap--DebtInstrumentFaceAmount_c20240321__us-gaap--TransactionTypeAxis__custom--PromissoryNoteMember_pp0p0" title="Face amount">15,000</span> bearing an interest rate of <span id="xdx_906_eus-gaap--DebtInstrumentInterestRateStatedPercentage_c20240321__us-gaap--TransactionTypeAxis__custom--PromissoryNoteMember_pdd" title="Interest rate">20%</span> per annum and payable on <span id="xdx_90E_eus-gaap--DebtInstrumentMaturityDate_c20240320__20240321__us-gaap--TransactionTypeAxis__custom--PromissoryNoteMember" title="Maturity date">March 20, 2025</span>.</p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 29.15pt"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 29.15pt">On May 12, 2024 the Company issued a promissory note to a board member in exchange for $<span id="xdx_908_eus-gaap--DebtInstrumentFaceAmount_c20240512__us-gaap--TransactionTypeAxis__custom--PromissoryNoteMember_pp0p0" title="Face amount">25,000</span> bearing an interest rate of <span id="xdx_904_eus-gaap--DebtInstrumentInterestRateStatedPercentage_c20240512__us-gaap--TransactionTypeAxis__custom--PromissoryNoteMember_pdd" title="Interest rate">20%</span> per annum and payable on <span id="xdx_90A_eus-gaap--DebtInstrumentMaturityDate_c20240511__20240512__us-gaap--TransactionTypeAxis__custom--PromissoryNoteMember" title="Maturity date">May 11, 2025</span>.</p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 29.15pt">On June 26, 2024 the Company issued a promissory note to a board member in exchange for $<span id="xdx_907_eus-gaap--DebtInstrumentFaceAmount_c20240626__us-gaap--TransactionTypeAxis__custom--PromissoryNoteMember_pp0p0" title="Face amount">100,000</span> bearing an interest rate of <span id="xdx_90F_eus-gaap--DebtInstrumentInterestRateStatedPercentage_c20240626__us-gaap--TransactionTypeAxis__custom--PromissoryNoteMember_pdd" title="Interest rate">20%</span> per annum and payable on <span id="xdx_90F_eus-gaap--DebtInstrumentMaturityDate_c20240625__20240626__us-gaap--TransactionTypeAxis__custom--PromissoryNoteMember" title="Maturity date">June 25, 2025</span>.</p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 29.15pt"> </p> <p style="font: 10pt/118% Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 29.15pt">Interest expense for the Company’s notes payable – related party for the three and six months ended June 30, 2024 was $<span id="xdx_90C_eus-gaap--InterestExpenseOther_c20240401__20240630_pp0p0" title="Interest expense">98,875</span> and $<span id="xdx_90E_eus-gaap--InterestExpenseOther_c20230401__20230630_pp0p0" title="Interest expense">189,895</span>, respectively.</p> <p style="font: 10pt/118% Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 29.15pt"> </p> <p style="font: 10pt/118% Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 29.15pt">Interest expense for the Company’s notes payable – related party for the three and six months ended June 30, 2023 was $<span id="xdx_90F_eus-gaap--InterestExpenseOther_c20240101__20240630_pp0p0" title="Interest expense">16,365</span> and $<span id="xdx_901_eus-gaap--InterestExpenseOther_c20230101__20230630_pp0p0" title="Interest expense">32,015</span>,</p> <p style="font: 10pt/118% Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 29.15pt"> </p> <p style="font: 10pt/118% Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 29.15pt">Accrued interest for the Company’s notes payable - related party on June 30, 2023, and December 31, 2023, was $<span id="xdx_900_eus-gaap--InterestReceivableCurrent_c20240630_pp0p0" title="Accrued interest">1,439,699</span> and $<span id="xdx_903_eus-gaap--InterestReceivableCurrent_c20231231_pp0p0" title="Accrued interest">996,963</span>, respectively, and is included in accrued expenses on the accompanying condensed consolidated balance sheets.</p> <p style="font: 10pt/118% Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 29.15pt"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"></p> | ||
| CY2024Q2 | basa |
Notes Payable Related Party Current And Noncurrent
NotesPayableRelatedPartyCurrentAndNoncurrent
|
1953000 | usd |
| CY2023Q4 | basa |
Notes Payable Related Party Current And Noncurrent
NotesPayableRelatedPartyCurrentAndNoncurrent
|
1750000 | usd |
| CY2024Q2 | us-gaap |
Interest Expense Other
InterestExpenseOther
|
98875 | usd |
| CY2023Q2 | us-gaap |
Interest Expense Other
InterestExpenseOther
|
189895 | usd |
| us-gaap |
Interest Expense Other
InterestExpenseOther
|
16365 | usd | |
| us-gaap |
Interest Expense Other
InterestExpenseOther
|
32015 | usd | |
| CY2024Q2 | us-gaap |
Interest Receivable Current
InterestReceivableCurrent
|
1439699 | usd |
| CY2023Q4 | us-gaap |
Interest Receivable Current
InterestReceivableCurrent
|
996963 | usd |
| CY2024Q2 | basa |
Notes Payable Related Party Noncurrent
NotesPayableRelatedPartyNoncurrent
|
2144357 | usd |
| CY2023Q4 | basa |
Notes Payable Related Party Noncurrent
NotesPayableRelatedPartyNoncurrent
|
2144357 | usd |
| CY2022Q1 | basa |
Liquidated Damages
LiquidatedDamages
|
53345 | usd |
| CY2024Q2 | basa |
Liquidated Damages
LiquidatedDamages
|
480000 | usd |
| basa |
Definitive Securities Purchase Agreements Description
DefinitiveSecuritiesPurchaseAgreementsDescription
|
the Company entered into definitive securities purchase agreements with 19 accredited investors and issued an aggregate of 19,398,144 shares of common stock, Warrant A to purchase up to an aggregate of 19,398,144 shares of common stock, and Warrant B to purchase up to an aggregate of 19,398,144 shares of Common Stock (for an aggregate of 38,796,288 Warrant Shares), for aggregate gross proceeds to the Company of approximately $5,334,490. Costs of the offering in the amount of $611,603 were charge to additional paid in capital. As of December 31, 2022 the Company also accrued the amount of $386,759 as liquidated damages due to the investors in the Company’s August 2021 private placement, such liquidated damages being related to the Company’s failure to timely file a registration statement on Form S-1 for an underwritten public offering and concurrent listing of the Common Stock on a national exchange. | ||
| CY2024Q1 | ecd |
Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
|
false | |
| CY2024Q1 | ecd |
Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
|
false | |
| CY2024Q1 | ecd |
Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
|
false | |
| CY2024Q1 | ecd |
Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
|
false |
