Quarterly report [Sections 13 or 15(d)]

Subsequent Events

v3.25.3
Subsequent Events
 9 Months Ended
Sep. 30, 2025
Subsequent Events [Abstract]  
Subsequent Events Subsequent Events
On October 14, 2025, the Company entered into a Share Financing Agreement (the “Agreement”) with Oceanview Consultant Partners Ltd. (“Oceanview”), to provide the Company with loan financing funding to be secured by Company’s common shares (the “Collateralized Loan”). Funding is to be provided in tranches and shall mature 1 year from date of funding. The Company has received net cash of $394,000 from the first tranche funding and $269,000 from the second tranche funding. The first tranche is secured by 2,100,000 common shares and the second tranche is secured by 2,200,000 common shares. Collateral retained by Oceanview will be pledged and utilized to secure each funding and is to be retained until all principal and interest have been paid. Interest will accrue on the outstanding principal amount of the
Collateralized Loan at 6% per annum, with interest only payable monthly and an arranger fee of 6% will be retained by Oceanview from Loan proceeds.
On November 6, 2025, the Company entered into a Securities Purchase Agreement with an individual investor providing for the issuance of a 11% promissory note in the principal amount of $163,300 (the "Note") which is convertible into common stock of the Company upon default. The Company received cash proceeds of $135,000, which is net of original issue discount and issuance cost of $28,300. The Note has a maturity date on August 30, 2026. Total payments of 181,263 will be made in five monthly installment payments, which won't be started until April 30, 2026 in accordance with the payment schedule pursuant to the note agreement.