On February 13, 2023, the company announced that it has entered into a securities purchase agreement for a private placement of convertible promissory notes due February 14, 2024 and five-year warrants to purchase an aggregate 36,956,521 common shares at an exercise price of $0.0115 per share for gross proceeds of $425,000. The transaction included participation from 7 accredited investors. The notes will be convertible into shares of the company at a fixed conversion price of $0.10 per share.

The company will issue securities pursuant to Regulation D. The transaction is subject to receipt of applicable corporate and regulatory approvals, including approval from the OTCPK securities exchange.