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Subsequent Events
6 Months Ended
Jun. 30, 2024
Subsequent Events [Abstract]  
Subsequent Events

12. Subsequent Events

 

Convertible Notes

 

During July 2024, the Company issued three Convertible Notes to Thomas B. Akin for a total amount of $550,000.

 

Share Issued

 

On August 2, 2024 a total of 2,395,511 shares of common stock were granted from equity payable to Thomas Akin as settlement of $1,253,423 of interest payable.

 

On August 2, 2024 a total of 120,883 shares of common stock were granted from equity payable to Talkot Fund LP as settlement of $101,658 of interest payable.

 

Related Party Notes Payable 

 

The Company  entered into Amendment No. 2 (the “Amendment”) to Amended and Restated Credit Facility Agreement and Convertible Notes (the Credit Facility Agreement), signed on August 13,2024, which amends the terms of the Credit Facility Agreement, between the Company and Thomas B. Akin, and any convertible notes issued thereunder. The Amendment amends the existing Credit Facility Agreement to extend the maturity of the agreement and related convertible notes thereunder until September 30, 2026. Principal payments have been deferred to a period beginning on October 31, 2024 and ending September 30, 2026.