SUBSEQUENT EVENTS |
3 Months Ended |
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Jun. 30, 2024 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS |
NOTE 12 – SUBSEQUENT EVENTS
Subsequent to the period end, through the date of the filing, the Company sold 103,000, at share prices of $ through $, in relation to the Equity Financing Agreement. shares of common stock at a net amount of approximately $
On July 3, 2024, the Company and the Investor entered into an Exchange Agreement on the Restructured Senior Note. In the Exchange Agreement the remaining Restructured Senior Note was partitioned into a $90,000 new promissory note, leaving the original Restructured Senior Note outstanding balance to be reduced by $90,000. The partitioned note was exchanged for shares of the Company’s common stock. The shares of common stock issued had a fair value of $90,000 based on the market price of the shares of $ on the execution date
On July 10, 2024, the Company received a tranche of $100,000 under the SPA for Series G Preferred Stock with a stated value of $120,000. The $20,000 discount will be accreted up to the redemption price over the one-year period until redemption.
On July 24, 2024, one of the holders converted Series E Preferred Stock into shares of common stock. |