PROMISSORY NOTES

3 Months Ended

Mar. 31, 2025

NOTE 5 – PROMISSORY NOTES

	Expiry	March 31,			December 31,			Interest
	Date	2025			2024			Rate
Promissory Note - November 2017	Due on demand	$	2,160		$	2,160		60% per annum
Promissory Note - March 2018	3/31/2028		15,296			15,296		30% per annum
Promissory Note - June 2018	6/29/2028		12,249			12,249		30% per annum
Promissory Note - September 2018	9/29/2028		5,408			5,408		30% per annum
Promissory Note - December 2018	12/30/2028		6,137			6,137		30% per annum
Promissory Note - March 2019	3/30/2029		7,150			7,150		30% per annum
Promissory Note - June 2019	6/30/2029		10,105			10,105		30% per annum
Promissory Note - September 2019	9/30/2029		4,081			4,081		30% per annum
Promissory Note - December 2019	12/31/2029		6,900			6,900		30% per annum
			69,486			69,486
Less current portion of promissory note payable			(2,160	)		(2,160	)
Long-term promissory notes payable		$	67,326		$	67,326

As of March 31, 2025 and December 31, 2024, the accrued interest on the promissory notes was $138,481 and $133,108 respectively.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

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