Quarterly report pursuant to Section 13 or 15(d)

SCHEDULE OF NOTES PAYABLE (Details)

v3.23.1
SCHEDULE OF NOTES PAYABLE (Details) - USD ($)
 3 Months Ended
Mar. 31, 2023
Dec. 31, 2022
Nonrelated Party [Member]    
Short-Term Debt [Line Items]    
Notes payable $ 272,231 $ 398,837
Credit Note One [Member]    
Short-Term Debt [Line Items]    
Interest rate [1] 10.00%  
Date of maturity [1] Jan. 01, 2020  
Notes payable [1] $ 286,446 426,909
Discount On Credit Note One [Member]    
Short-Term Debt [Line Items]    
Discount (27,715) (41,572)
Lee Lytton [Member]    
Short-Term Debt [Line Items]    
Notes payable $ 3,500 3,500
Date of maturity On Demand  
M Horowitz [Member]    
Short-Term Debt [Line Items]    
Interest rate 10.00%  
Date of maturity Oct. 14, 2016  
Notes payable $ 10,000 $ 10,000
[1] On January 2, 2020, the Company entered into a loan agreement in the amount of $1,000,000 with a third party (including a $120,000 origination fee). The note bore interest at an interest rate of $10% per annum and matured on June 30, 2020, and included (as discussed below) warrants to purchase 5,000,000 shares of common stock (the “Loan Warrants”), at an exercise price of $0.10 per share in Canadian dollars which expired on January 2, 2023. The fair value of issued warrants were recorded as a debt discount of $266,674 and monthly amortization of $11,111. These funds were initially placed in escrow, then on May 29, 2020, they were used for the purchase of the Utikuma oil field. Pursuant to a loan extension agreement, on October 30, 2020, the Company issued warrants to purchase 5,000,000 shares of common stock, at an exercise price of $0.05 per share which expired on January 6, 2023. The fair value of the issued warrants was recorded as a debt discount of $166,289 and monthly amortization of $4,614. Payments totaling $150,000 were made on this note during the first quarter of 2023, applied to accrued interest first and then principal.