General form of registration statement for all companies including face-amount certificate companies

CONVERTIBLE DEBENTURE PAYABLE (Details Narrative)

v3.22.2.2
CONVERTIBLE DEBENTURE PAYABLE (Details Narrative) - USD ($)
6 Months Ended 12 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Dec. 31, 2021
INTANGIBLE ASSETS      
Warrants Issued To Purchase Common Shares     406,504
Debt face amount $ 3,048,781   $ 3,048,781
Debenture conversion description The Debenture was convertible voluntarily by the Purchaser at any time into shares of our common stock, at the lesser of $7.50, representing 100% of the closing price of our common stock on the trading day immediately prior to the Closing Date, or 75% of the average VWAP of our common stock during the 5 trading day period immediately prior to the conversion date (the “Conversion Price”), or automatically upon the occurrence of a single public offering of our common stock which results in the listing of our common stock on a national securities exchange as defined in the Exchange Act (the “Qualified Offering”) into shares of our common stock at the lesser of the Conversion Price, or 75% of the offering price of the securities offered in the Qualified Offering   The Debenture is convertible voluntarily by the Purchaser at any time into shares of our common stock, at the lesser of $7.50, representing 100% of the closing price of our common stock on the trading day immediately prior to the Closing Date, or 75% of the average VWAP of our common stock during the 5 trading day period immediately prior to the conversion date (the “Conversion Price”), or automatically upon the occurrence of a single public offering of our common stock which results in the listing of our common stock on a national securities exchange as defined in the Exchange Act (the “Qualified Offering”) into shares of our common stock at the lesser of the Conversion Price, or 75% of the offering price of the securities offered in the Qualified Offering
Proceeds from financing transition $ 2,500,000   $ 2,500,000
OID percentage 18.00%   18.00%
Exercise price $ 6   $ 9.00
Partial liquidated damages description Company shall pay to the Purchaser as partial liquidated damages equal to the product of 2% of the principal amount not to exceed 24% of the aggregate principal. If the Company fails to pay of the liquidated damages within seven days after the date payable, the Company will pay interest at 18% until such amounts are paid in full   the Company shall pay to the Purchaser as partial liquidated damages equal to the product of 2% of the principal amount not to exceed 24% of the aggregate principal. If the Company fails to pay the liquidated damages within seven days after the date payable, the Company will pay interest at 18% until such amounts are paid in full
Unamortized discount and issuance costs $ 423,782   $ 423,782
Conversion feature debt discount $ 980,000   $ 980,000
Outstanding warrants 508,130   1,219,512
Fair market value of stock warrants $ 864,000 $ 864,000 $ 847,048
Unamortized discount 0   402,465
Interest expense related to debt issuance costs 5,405 5,405  
Interest expense 465,635   444,583
Gain on extinguishment $ 1,109,105    
Outstanding principal amount of debenture, percentage 130.00%    
Accrued and unpaid interest, percentage 100.00%    
Default penalties included in general and administrative expense $ 914,634    
Warrant to purchase additional shares of common stock 101,626    
Warrant to purchase additional shares of common stock, expiry date Mar. 29, 2029    
Debt discount amortization expense $ 465,635 $ 465,635  
Amortization Of Interest     514,365
Original Issue Discount 548,781   548,781
Debt issuance costs 275,000   275,000
Unpaid damages and estimated related costs $ 195,000   189,700
Interest Expense Related To The Original Issue Discount And Debt Issuance Costs     $ 399,999