CONVERTIBLE NOTES RECEIVABLE	3 Months Ended
Mar. 31, 2023
Convertible Notes Receivable
CONVERTIBLE NOTES RECEIVABLE	11. CONVERTIBLE NOTES RECEIVABLE During March through November 2021, we purchased five convertible notes from StemSation International (the “StemSation”) for a total of $286,550 with original issuance discount of $26,050. The notes are convertible into common shares for $0.01 per common share and mature in one 1 year from the funding of the notes. The original issuance discount is amortized over the lives of notes. From March to December 2022, we purchased six convertible notes from StemSation totaling $41,196, which included a $3,745 original issuance discount. In March 2023, we purchased another note for $3,300 with a $300 discount. All the notes mature one 1 year after funding. The notes are convertible into common shares at $0.01 per share, except for those issued in December 2022 ($6,600) and March 2023 ($3,300), totaling $9,900, which are convertible at $0.005 per share. The original issuance discount is amortized over the lives of the notes. Repayments of $101,750 have been received during the third and fourth quarter of 2022. Repayments of $10,000 have been received during the first quarter of 2023. The debt discount as of March 31, 2023 and December 31, 2022 was $0 and $600, respectively. At March 31, 2023 and December 31, 2022, the principal balance of the notes, net of discount is $219,296 and $225,396, respectively. Amortization for all the convertible notes receivable was $900 and $6,505 recognized as other income in the accompanying unaudited condensed consolidated statements of operations for the three months ended March 31, 2023 and 2022, respectively. During April through June 2023, we received repayments totaling $2,500, and purchased additional convertible notes totaling $47,204. The principal balance of the notes prior to settlement was $264,000. On June 5, 2023, the Company entered into a settlement agreement with StemSation to convert the notes receivable balances of $264,000 into shares of StemSation’s common stock at $0.00176 per share. The settlement agreement was approved on June 15, 2023 by the Circuit Court. On June 15, 2023, the Company planned to issue 150,000,000 shares in exchange for $264,000 at $0.00176 per share. A portion of these shares has been issued, with the remaining balance to be converted (See Note 14).

CONVERTIBLE NOTES RECEIVABLE

3 Months Ended

Mar. 31, 2023

11. CONVERTIBLE NOTES RECEIVABLE

During March through November 2021, we purchased five convertible notes from StemSation International (the “StemSation”) for a total of $286,550 with original issuance discount of $26,050. The notes are convertible into common shares for $0.01 per common share and mature in one 1 year from the funding of the notes. The original issuance discount is amortized over the lives of notes.

From March to December 2022, we purchased six convertible notes from StemSation totaling $41,196, which included a $3,745 original issuance discount. In March 2023, we purchased another note for $3,300 with a $300 discount. All the notes mature one 1 year after funding. The notes are convertible into common shares at $0.01 per share, except for those issued in December 2022 ($6,600) and March 2023 ($3,300), totaling $9,900, which are convertible at $0.005 per share. The original issuance discount is amortized over the lives of the notes.

Repayments of $101,750 have been received during the third and fourth quarter of 2022. Repayments of $10,000 have been received during the first quarter of 2023. The debt discount as of March 31, 2023 and December 31, 2022 was $0 and $600, respectively. At March 31, 2023 and December 31, 2022, the principal balance of the notes, net of discount is $219,296 and $225,396, respectively.

Amortization for all the convertible notes receivable was $900 and $6,505 recognized as other income in the accompanying unaudited condensed consolidated statements of operations for the three months ended March 31, 2023 and 2022, respectively.

During April through June 2023, we received repayments totaling $2,500, and purchased additional convertible notes totaling $47,204. The principal balance of the notes prior to settlement was $264,000.

On June 5, 2023, the Company entered into a settlement agreement with StemSation to convert the notes receivable balances of $264,000 into shares of StemSation’s common stock at $0.00176 per share. The settlement agreement was approved on June 15, 2023 by the Circuit Court. On June 15, 2023, the Company planned to issue 150,000,000 shares in exchange for $264,000 at $0.00176 per share. A portion of these shares has been issued, with the remaining balance to be converted (See Note 14).

NUTRA PHARMA CORP 10-Q