CONVERTIBLE NOTES	3 Months Ended
Mar. 31, 2024
Debt Disclosure [Abstract]
CONVERTIBLE NOTES	NOTE 3 – CONVERTIBLE NOTES During the three months ended March 31, 2024, the Company did not make the necessary payment at maturity to Quick Capital LLC; at the scheduled July 22 due date of convertible note payable. The face value of the loan was $312,500 with a $62,500 OID. In the event of default, the principal of the note is increased by 150%, and the default interest is 15% annum. At March 31, 2024, the Company recorded a $471,094 convertible note and $54,645 associated accrued interest,

CONVERTIBLE NOTES

3 Months Ended

Mar. 31, 2024

NOTE 3 – CONVERTIBLE NOTES

During the three months ended March 31, 2024, the Company did not make the necessary payment at maturity to Quick Capital LLC; at the scheduled July 22 due date of convertible note payable. The face value of the loan was $312,500 with a $62,500 OID. In the event of default, the principal of the note is increased by 150%, and the default interest is 15% annum. At March 31, 2024, the Company recorded a $471,094 convertible note and $54,645 associated accrued interest,

- 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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+ Details

Indoor Harvest Corp 10-Q