Annual report pursuant to Section 13 and 15(d)

Convertible Debentures (Details)

v3.21.2
Convertible Debentures (Details)
 1 Months Ended 12 Months Ended
Nov. 17, 2021
USD ($)
Oct. 15, 2021
Sep. 23, 2021
$ / shares
Aug. 07, 2021
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Jul. 31, 2021
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Jul. 21, 2021
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Jul. 16, 2021
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Jul. 14, 2021
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Jul. 14, 2021
Jul. 13, 2021
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Jul. 06, 2021
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Jul. 02, 2021
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Jul. 01, 2021
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Jun. 10, 2021
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Jun. 10, 2021
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Jun. 07, 2021
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Jun. 04, 2021
Jun. 03, 2021
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Jun. 02, 2021
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May 28, 2021
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May 26, 2021
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May 19, 2021
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Apr. 23, 2021
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Apr. 13, 2021
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shares
Mar. 09, 2021
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Feb. 25, 2021
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Jan. 26, 2021
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$ / shares
Jan. 12, 2021
Jan. 12, 2021
Jan. 07, 2021
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Jan. 04, 2021
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Jan. 04, 2021
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Dec. 15, 2020
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Nov. 13, 2020
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Nov. 13, 2020
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Nov. 11, 2020
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Nov. 06, 2020
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Nov. 06, 2020
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Oct. 01, 2020
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Sep. 22, 2020
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Sep. 02, 2020
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Aug. 07, 2020
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Jul. 07, 2020
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Jun. 04, 2020
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May 07, 2020
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Dec. 04, 2019
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Oct. 15, 2019
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$ / shares
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Oct. 14, 2019
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Oct. 14, 2019
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Sep. 09, 2019
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Sep. 04, 2019
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Aug. 07, 2019
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Oct. 15, 2018
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Oct. 12, 2018
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Dec. 23, 2021
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Nov. 17, 2021
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Aug. 27, 2021
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Jul. 21, 2021
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Jun. 30, 2021
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Jun. 24, 2021
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Jun. 16, 2021
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May 20, 2021
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May 19, 2021
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Apr. 23, 2021
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Apr. 21, 2021
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Mar. 17, 2021
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Feb. 25, 2021
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Jan. 25, 2021
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Jan. 20, 2021
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Jan. 20, 2021
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Jan. 16, 2021
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Nov. 30, 2020
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Nov. 24, 2020
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Oct. 29, 2020
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Sep. 30, 2020
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Sep. 23, 2020
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Sep. 22, 2020
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shares
Aug. 29, 2020
$ / shares
Aug. 26, 2020
Aug. 23, 2020
Jul. 22, 2020
Jun. 19, 2020
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Mar. 30, 2020
$ / shares
shares
Mar. 30, 2020
$ / shares
shares
Jan. 16, 2020
Dec. 31, 2019
Dec. 31, 2019
$ / shares
Nov. 30, 2019
USD ($)
Nov. 26, 2019
Oct. 31, 2019
USD ($)
Oct. 29, 2019
USD ($)
$ / shares
Sep. 17, 2019
USD ($)
$ / shares
shares
Aug. 19, 2019
USD ($)
$ / shares
shares
Jul. 19, 2019
USD ($)
$ / shares
Jan. 23, 2019
USD ($)
Jan. 16, 2019
USD ($)
Sep. 17, 2018
USD ($)
Aug. 31, 2021
USD ($)
a
$ / shares
shares
Aug. 30, 2021
USD ($)
shares
Aug. 31, 2020
USD ($)
Jun. 30, 2021
CAD ($)
shares
Jun. 24, 2021
CAD ($)
shares
Jun. 24, 2021
؋ / shares
May 14, 2021
$ / shares
May 10, 2021
$ / shares
Mar. 02, 2021
$ / shares
Feb. 22, 2021
$ / shares
Feb. 05, 2021
$ / shares
Jan. 28, 2021
$ / shares
Jan. 13, 2021
$ / shares
Jan. 11, 2021
$ / shares
Dec. 28, 2020
$ / shares
Dec. 22, 2020
$ / shares
Nov. 12, 2020
$ / shares
Oct. 12, 2020
$ / shares
Jan. 26, 2020
USD ($)
Aug. 09, 2019
USD ($)
Dec. 27, 2018
Aug. 09, 2018
USD ($)
Convertible Debentures (Details) [Line Items]
Principal amount $ 114,125 $ 40,000 $ 250,000 $ 140,800 $ 2,400,000 $ 125,000 $ 141,625 $ 140,800 $ 2,400,000
Exercise price (in Dollars per share) | $ / shares $ 0.0412
Maturity date Jun. 22, 2022
Conversion price per share (in Dollars per share) | $ / shares $ 0.055 $ 0.037 $ 0.041 $ 0.055
Interest rate 12.00% 12.00%
Convertible shares (in Shares) | shares 4,677,532
Conversion price (in Dollars per share) | $ / shares $ 0.094
Total shares (in Shares) | shares 9,101,942 1,681,488
Original issue discount amount $ 10,375
Net proceeds $ 100,000 $ 4,138,500 $ 2,337,438
Terms of debt conversion agreement, description On July 6, 2021, in terms of a debt conversion agreement entered into with Cavalry, the Company agreed to convert unpaid interest of $22,500 on the note entered into on October 12, 2018; and unpaid principal of $80,000 and unpaid interest of $30,560 on this convertible note; and unpaid principal of $25,000 on a convertible note entered into on August 7, 2020 into 1,681,488 shares of common stock at a conversion price of $0.094 per share for a total of 1,681,488 shares, which have not been issued as yet and are subject to TSXV approval.
Convertible loan 80,000
Convertible loan maturity date Jul. 31, 2021
Interest thereon 827,066
Proceeds from Issuance of Private Placement 3,496,949 3,143,374
Convertible debenture bears interest 5.00%
Converted to common shares (in Shares) | shares 5,000,000
Proceeds $ 400,000
Convertible debenture issued $ 3,300,000
Interest rate 10.00% 10.00% 10.00% 8.00% 8.00% 10.00%
Conversion price of common stock 2,144,185
Outstanding interest $ 92,007 $ 22,660
Converted shares of common stock (in Shares) | shares 949,688 4,476,477 581,026 5,263,157
Interest rate $ 14,160 $ 37,050
DebtConversionAgreementDescription the Company entered into a debt conversion agreement whereby a total amount of $132,007, consisting of outstanding interest of $92,007 accrued until June 1, 2021 on various convertible notes and a principal amount outstanding of $40,000 on one convertible note, was converted into 949,688 shares of common stock. The debt conversion agreement included $22,750 of interest related to this July 2019 convertible note.
Warrant exercisable (in Shares) | shares 5,208,333 2,117,520 5,208,333 2,117,520
Total amount $ 132,007
Exercise price (in Dollars per share) | $ / shares $ 0.055
Common shares value 3,618,971 1,624,130
Gross proceeds $ 134,955 $ 194,705
Conversion price, percentage 75.00%
Aggregate principal amount $ 114,125 $ 30,652 $ 30,652 $ 771,610 $ 141,625 $ 92,125
penalty interest 86,779
Conversion price percentage 75.00%
Aggregate principal amount outstanding $ 105,000 $ 38,217
Converted aggregate of principal amount $ 1,000,000 $ 1,000,000 5,255,874 $ 8,227,257
Shares issued (in Shares) | shares 41,334,246
Bearing interest 8.00% 8.00%
Promissory note 747,616
Subsequent Event [Member]
Convertible Debentures (Details) [Line Items]
DebtConversionAgreementDescription On October 15, 2021, the Company entered into a debt conversion agreement with Morison Management whereby the aggregate principal amount of convertible debt of $239,251 related to an October 2018 convertible debenture of $184,251 and a January 20, 2020 convertible debenture of $55,000 will be convertible into 2,010,521 common shares at a conversion price of $0.119 per share, subject to approval of the Board of Directors and the TSXV.
Aggregate principal amount $ 128,750 $ 103,750
Minimum [Member]
Convertible Debentures (Details) [Line Items]
Percentage of prepayment 110.00% 110.00%
Maximum [Member]
Convertible Debentures (Details) [Line Items]
Percentage of prepayment 130.00% 130.00%
Cavalry Fund I LP [Member]
Convertible Debentures (Details) [Line Items]
Issued units $ 250,000
Units of convertible debentures $ 1,000
Convertible interest 10.00%
Conversion price per share (in Dollars per share) | $ / shares $ 0.87
Principal amount $ 125,000 $ 75,000 $ 250,000
Interest amount $ 1,096
Exercise price (in Dollars per share) | $ / shares $ 0.23
Convertible shares (in Shares) | shares 9,101,942
Cantone Asset Management, LLC [Member]
Convertible Debentures (Details) [Line Items]
Warrant exercisable common shares (in Shares) | shares 1,111,111 1,111,111 1,149,424
Price per common stock (in Dollars per share) | $ / shares $ 0.87
Principal and interest amount $ 200,000
Settled by issue of common shares (in Shares) | shares 1,111,111
Exercise price (in Dollars per share) | $ / shares $ 0.0412
Description of convertible debenture the Company issued 250 one year units to Cavalry for gross proceeds of $250,000, each unit consisting of a $1,000 principal convertible unsecured debenture, bearing interest at 10% per annum and convertible into common shares at $0.86 per share, and a common share purchase warrant exercisable for 290,500 shares at an exercise price of $0.86 per share with an expiry date of October 12, 2019.
Maturity date Oct. 12, 2020
Conversion price per share (in Dollars per share) | $ / shares $ 0.0412 $ 0.18
Interest rate 12.00%
Unpaid interest $ 22,500 $ 30,560
Unpaid principal amount $ 80,000 $ 25,000
Shares of common stock (in Shares) | shares 1,681,488
Convertible Debenture [Member]
Convertible Debentures (Details) [Line Items]
Warrant exercisable common shares (in Shares) | shares 3,033,980 2,666,666
Principal amount $ 150,000 $ 400,000 $ 480,000
Exercise price (in Dollars per share) | $ / shares $ 0.0412
Conversion price per share (in Dollars per share) | $ / shares $ 0.0412 $ 0.0412 $ 0.0871 $ 0.0312 $ 0.0326 $ 0.0282 $ 0.0296 $ 0.0296 $ 0.0312 $ 0.03115 $ 0.17 $ 0.0326 $ 0.036 $ 0.03401125 $ 0.03338125 $ 0.0309575 $ 0.03115 $ 0.0326 $ 0.0326 $ 0.0338 $ 0.0338 $ 0.0308
Convertible shares (in Shares) | shares 9,708,737
Original issue discount amount $ 25,000 80,000
Net proceeds $ 125,000 $ 374,980
Exercise price | $ / shares $ 0.15
Convertible debenture interest 0.00% 3.30%
Terms of debt conversion agreement, description On July 6, 2021, in terms of a debt conversion agreement entered into with Cavalry, the Company agreed to convert unpaid interest of $22,500 on the note entered into on October 12, 2018; and unpaid principal of $80,000 and unpaid interest of $30,560 on the convertible note entered into on August 19, 2019; and unpaid principal of $25,000 on this convertible note, into 1,681,488 shares of common stock at a conversion price of $0.094 per share for a total of 1,681,488 shares, which have not been issued as yet and are subject to TSXV approval.
Convertible loan $ 25,000
Convertible loan maturity date Aug. 07, 2021
Outstanding interest $ 4,710 $ 3,780 $ 3,480 $ 7,680 $ 4,500
Converted shares of common stock (in Shares) | shares 439,209
Interest rate $ 23,550
Total amount 61,050
Warrant exercisable for common shares (in Shares) | shares 574,053 169,200 700,000
Shares issued (in Shares) | shares 25,000
Bearing interest 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 15.00% 10.00%
SBI Investments, LLC [Member]
Convertible Debentures (Details) [Line Items]
Principal amount $ 50,000 $ 16,516 $ 16,516
Description of convertible debenture the Company entered into an agreement with SBI Investments, LLC (“SBI”) whereby the Company issued 250 one year units for proceeds of $250,000, each debenture consisting of a $1,000 principal convertible unsecured debenture, bearing interest at 10% per annum and convertible into common shares at $0.86 per share, and a warrant exercisable for 1,162 shares of common stock at an exercise price of $0.86 per share, expiring on October 15, 2019. the Company entered into an agreement with SBI whereby the Company issued a convertible promissory note for $55,000 for gross proceeds of $50,000, bearing interest at 10% per annum and convertible into common shares at $0.14 per share. The convertible note matured on January 16, 2021. In conjunction with the convertible promissory note, the Company issued a warrant exercisable for 357,142 shares of common stock at an exercise price of $0.14 per share, which warrant expired unexercised on January 16, 2021.
Conversion price (in Dollars per share) | $ / shares $ 0.18
Interest thereon 33,484
Total amount 50,000 50,000
Repaid loan 49,232
Interest amount $ 768
Aggregate principal amount outstanding $ 184,251
Private lender [Member]
Convertible Debentures (Details) [Line Items]
Principal amount $ 2,400,000
Description of convertible debenture Bellridge enforced the penalty provisions of the original agreement, resulting in an increase in the capital due under the debenture by $610,312 , and an increase of 10% to the interest rate, from the date of original default which was September 19, 2019. the Company issued 3 one year convertible units of $1,100,000 each to Bay Private Equity, Inc. (“Bay”), including an OID of $100,000 per unit, for net proceeds of $2,979,980. These units bear interest at 5% per annum and matured one year from the date of issue. Each unit consists of one senior secured convertible debenture of $1,100,000 and 250,000 common share purchase warrants. Each convertible debenture may be converted to common shares of the Company at a conversion price of $1.00 per share. Each common share purchase warrant entitles the holder to purchase an additional common share of the Company at a price of $1.10 per share for one year after the issue date.
Maturity date Sep. 30, 2021 Feb. 20, 2021
Conversion price per share (in Dollars per share) | $ / shares $ 0.055
Conversion price (in Dollars per share) | $ / shares $ 0.4
Original issue discount amount 400,000
Net proceeds $ 2,000,000
Proceeds from Issuance of Private Placement $ 400,000
Cantone Asset Management, LLC [Member]
Convertible Debentures (Details) [Line Items]
Warrant exercisable common shares (in Shares) | shares 1,315,789
Conversion price per share (in Dollars per share) | $ / shares $ 0.21
Principal amount $ 300,000 40,000 $ 40,000 $ 200,000 $ 240,000 $ 240,000 $ 250,000 $ 300,000 $ 40,000 $ 240,000 $ 300,000 $ 250,000
Exercise price (in Dollars per share) | $ / shares 0.03 $ 0.24
Description of convertible debenture In conjunction with the convertible debenture, the Company issued a warrant exercisable for 1,176,470 common shares at an exercise price of $0.17 per share, expiring on January 16, 2021. $0.055 In conjunction with the convertible debenture, the Company issued a warrant exercisable for 952,380 common shares at an exercise price of $0.26 per share, expiring on December 17, 2020.
Maturity date Jul. 01, 2023 Jan. 14, 2021 Oct. 19, 2021 Dec. 17, 2020 Oct. 19, 2020
Conversion price per share (in Dollars per share) | $ / shares $ 0.12 0.037 $ 0.17 $ 0.17 $ 0.0475 $ 0.19
Conversion price (in Dollars per share) | $ / shares 0.037
Original issue discount amount $ 40,000 $ 40,000 $ 50,000
Net proceeds $ 200,000 $ 247,500 $ 200,000 $ 234,000
Exercise price | $ / shares $ 0.12 0.03 $ 0.17 $ 0.26
Interest rate 8.00% 7.00% 7.00% 18.00% 7.00% 7.00%
Conversion price of common stock $ 200,000 $ 250,000 $ 200,000 $ 250,000
Debt instrument, description On September 23, 2020, $50,000 of the principal was repaid out of the proceeds of the $300,000 convertible note issued to Cantone Asset Management.
Outstanding interest $ 92,007 92,007 $ 22,660
Converted shares of common stock (in Shares) | shares 949,688 5,405,405 581,026
Interest rate $ 21,840 $ 8,500 $ 10,367
Warrant exercisable (in Shares) | shares 1,176,470 952,380
Total amount $ 132,007 $ 132,007
Exercise price (in Dollars per share) | $ / shares $ 0.03
Percentage of conversion price on common stock 7.00%
Expiry date Jul. 01, 2023
Shares of common stock (in Shares) | shares 2,500,000
Cantone Asset Management, LLC [Member] | Subsequent Event [Member]
Convertible Debentures (Details) [Line Items]
Maturity date Dec. 23, 2021
Exercise price (in Dollars per share) | $ / shares $ 0.08
Power Up Lending Group, Ltd. [Member]
Convertible Debentures (Details) [Line Items]
Principal amount $ 86,350 $ 82,500 $ 69,900 $ 69,900 $ 69,900 $ 140,800 $ 140,800 $ 69,900 $ 64,300 $ 92,125 $ 86,350 $ 82,500 $ 82,500 $ 82,500
Description of convertible debenture Between July 13, 2021 and July 14, 2021, Power Up converted the aggregate principal sum of $86,350, including interest thereon of $4,710 into 1,049,835 common shares, thereby extinguishing the note. the Company issued a convertible promissory note to Power Up in the aggregate principal sum of $86,350, including an original issue discount of $11,350, for net proceeds of $75,000 after certain expenses. Between November 11, 2020 and November 13, 2020, Power Up converted the aggregate principal sum of $64,300, including interest thereon of $3,480 into 2,256,939 common shares, thereby extinguishing the note. The company entered into an amending agreement whereby the conversion price of the convertible note was amended to $0.0475 per share, the maturity date was extended to December 17, 2021 and the interest rate was amended to 18% with effect from October 20, 2020.
Maturity date Jul. 02, 2022 Feb. 24, 2022 Nov. 06, 2021 Nov. 06, 2021 May 07, 2021 May 20, 2022 Apr. 21, 2022 Jun. 19, 2021
Interest rate 12.00% 12.00% 12.00%
Convertible shares (in Shares) | shares 2,668,712 2,306,558 2,306,558 2,668,712
Original issue discount amount $ 11,350 $ 12,800 6,900 $ 6,300 $ 125,000 $ 8,375 $ 7,500
Net proceeds $ 75,000 $ 125,000 $ 60,000 $ 55,000 $ 12,875 $ 80,000 $ 72,000
Interest rate 12.00% 12.00% 12.00% 12.00% 12.00% 12.00% 12.00%
Converted shares of common stock (in Shares) | shares 439,209 4,545,454
Interest rate $ 4,500 $ 3,780 $ 3,780 $ 4,500
Total amount $ 61,050
Conversion price, percentage 75.00% 75.00% 75.00% 75.00% 75.00% 75.00%
Aggregate principal amount $ 86,350
penalty interest $ 32,622
Conversion price percentage 75.00%
Power Up Lending Group, Ltd. [Member] | Minimum [Member]
Convertible Debentures (Details) [Line Items]
Percentage of prepayment 110.00% 110.00% 110.00% 110.00% 110.00% 110.00% 110.00%
Power Up Lending Group, Ltd. [Member] | Maximum [Member]
Convertible Debentures (Details) [Line Items]
Percentage of prepayment 130.00% 130.00% 130.00% 130.00% 130.00% 130.00% 130.00%
EMA Financial LLC [Member]
Convertible Debentures (Details) [Line Items]
Description of convertible debenture the Company issued a convertible promissory note to EMA for the aggregate principal sum of $150,000, including an original issue discount of $15,000, for net proceeds of $130,500 after certain expenses. The note bears interest at 8% per annum and matures on April 22, 2021. The note may be prepaid subject to a prepayment penalty of 130%. The outstanding principal amount of the note is convertible at any time and from time to time at the election of the holder into shares of the Company’s common stock at a conversion price equal to the lower of; (i) the lowest trading price of the Company’s common stock during the 15 trading days including and immediately preceding the issue date; and (ii) 70% of the two lowest average trading prices during the fifteen prior trading days including and immediately preceding the conversion date. Between January 25, 2021 and March 2, 2021, EMA converted the aggregate principal sum of $161,880 into 5,200,000 common shares.
Original issue discount amount $ 50,000
Private lender [Member]
Convertible Debentures (Details) [Line Items]
Principal amount $ 150,000 $ 25,000 $ 120,000 $ 150,000 $ 200,000 $ 200,000
Description of convertible debenture The convertible debenture bears interest at 10.0% per annum and matured on October 29, 2020. The convertible debenture may be converted into common shares of the Company at a conversion price of $0.18 per share.
Maturity date Jan. 26, 2022 Jul. 24, 2023 Oct. 29, 2020
Conversion price per share (in Dollars per share) | $ / shares $ 0.0562 $ 0.0562 $ 0.12 $ 0.18
Original issue discount amount $ 150,000
Net proceeds $ 25,000 $ 100,000
Exercise price | (per share) $ 0.0562 $ 0.0562 $ 0.0562 $ 0.18 ؋ 0.12
Interest rate 10.00% 10.00% 10.00%
Warrant exercisable (in Shares) | shares 444,839 833,333 555,555 833,333
Exercise price (in Dollars per share) | $ / shares $ 0.0562
Expiry date Jan. 26, 2023 Jan. 26, 2023
Shares of common stock (in Shares) | shares 2,669,039
Gross proceeds $ 0.0562
Shares issued (in Shares) | shares 444,839
Issuance of warrant exercisable (in Shares) | shares 2,669,039
Net Proceeds $ 25,000
Bearing interest 8.00% 8.00%
Original issue discount $ 20,000
Petroleum Capital Funding LP. [Member]
Convertible Debentures (Details) [Line Items]
Conversion price per share (in Dollars per share) | $ / shares $ 0.12 $ 0.12
Principal amount $ 3,000,000 $ 3,000,000
Description of convertible debenture On September 22, 2020, the Company entered into an Amending Agreement, whereby the conversion price of the convertible debenture was amended to $0.055 per share and the exercise price of the warrant exercisable for 1,558,730 shares was amended to $0.055 per share. the Company concluded its second closing as contemplated by the term sheet entered into with PCF per (i) above and issued a convertible debenture in the aggregate principal amount of $432,000, including an OID of $72,000 for net proceeds of $318,600 after certain issue expenses. The convertible debenture bears interest at 10% per annum and the gross proceeds less the OID of $360,000 is convertible into common shares at a conversion price of $0.21 per share, and matures on December 4, 2023. the Company concluded its third closing as contemplated by the term sheet entered into with PCF per (i) above and issued a convertible debenture in the aggregate principal amount of $471,000, including an OID of $78,500 for net proceeds of $347,363 after certain issue expenses. The convertible debenture bears interest at 10% per annum and the gross proceeds less the OID of $392,500 is convertible into common shares at a conversion price of $0.21 per share, and matures on March 30, 2024. the Company issued a convertible debenture in the aggregate principal amount of $318,000, including an OID of $53,000 for net proceeds of $226,025 after certain issue expenses. The convertible debenture bears interest at 10% per annum and the gross proceeds less the OID of $265,000 is convertible into common shares at a conversion price of $0.21 per share, and matures on November 26, 2023. In conjunction with the convertible debenture, the Company issued a warrant exercisable for 1,558,730 common shares and a brokers warrant exercisable for 124,500 common shares, at an exercise price of $0.17 per share, expiring on November 26, 2023.
Conversion price per share (in Dollars per share) | $ / shares $ 0.055 $ 0.055
Original issue discount amount 500,000
Net proceeds $ 2,191,000
Exercise price | $ / shares $ 0.17 $ 0.17 $ 0.17
Converted shares of common stock (in Shares) | shares 439,209
Interest rate $ 21,600 $ 15,900
Warrant exercisable (in Shares) | shares 20,833,333 4,906,250 2,117,520 20,833,333 4,906,250 4,906,250 4,906,250
Total amount $ 61,050 </spa