Form 10-Q - Quarterly report [Sections 13 or 15(d)]

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C.

FORM 10-Q

[X]

Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

For the quarterly period ended September 30, 2024

[ ]

Transition Report under Section 13 or 15(d) of the Securities Exchange Act of 1934

For the transition period from ________ to ________

Commission File No. 333-271439

Ludwig Enterprises, Inc.

(Exact name of registrant as specified in its charter)

Nevada

(State or Other Jurisdiction of Incorporation or Organization)

61-1133438

(IRS Employer Identification No.)

8950 SW 74^th Ct, Ste 2201-A149, Miami, FL 33156

(Address of Principal Executive Offices, Including Zip Code)

786-363-0166

(Registrant’s telephone number, including area code)

1749 Victorian Avenue, #C-350, Sparks, Nevada 89431

(Former name, former address and former fiscal year, if changed since last report)

Securities Registered under Section 12(b) of the Exchange Act: None

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes [ ] No [X]

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes [X] No [ ]

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer [ ]	Accelerated filer [ ]	Smaller reporting company [X]
Non-accelerated filer [X]		Emerging growth company [ ]

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [ ]

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes [ ] No [X]

The number of shares outstanding of the registrant’s Common Stock, $.001 par value (being the only class of its common stock), is 159,912,808 as of November 13, 2024.

PART I—FINANCIAL INFORMATION

Item 1. Financial Statements

	Page
Consolidated Balance Sheets as of September 30, 2024 (unaudited), and December 31, 2023 (audited)		3
Consolidated Statements of Operations (unaudited) for the Three and Nine months Ended September 30, 2024 and 2023		4
Consolidated Statement of Changes in Stockholders’ Deficit (unaudited) for the Three and Nine months Ended September 30, 2024 and 2023		5
Consolidated Statements of Cash Flows (unaudited) for the Nine months Ended September 30, 2024 and 2023		7
Condensed Notes to Unaudited Consolidated Financial Statements		8

Ludwig Enterprises, Inc.

Consolidated Balance Sheets


	September 30,			December 31,
	2024			2023
	(Unaudited)
Assets
Current Assets
Cash	$	43,352		$	108,335
Prepaid expenses		33,517			4,133
Deferred offering cost		60,000			—
Total Current Assets		136,869			112,468

Total Assets	$	136,869		$	112,468

Liabilities and Stockholders' Deficit
Current Liabilities
Accounts payable and accrued liabilities	$	561,934		$	204,024
Notes payable		1,270,009			1,270,009
Convertible notes payable, net		584,000			100,000
Advance from investor		50,000			—
Total Current Liabilities		2,465,943			1,574,033

Total Liabilities		2,465,943			1,574,033

Stockholders' Deficit
Preferred stock: 7,000,000 authorized; $0.001 par value, 7,000,000 shares issued and outstanding		7,000			7,000
Common stock: 1,250,000,000 authorized; $0.001 par value, 159,912,808 and 155,464,808 shares issued and outstanding, respectively		159,911			155,463
Common stock issuable		40,000			—
Additional paid in capital		4,567,510			2,618,454
Accumulated deficit		(7,103,495	)		(4,242,482	)
Total Stockholders' Deficit		(2,329,074	)		(1,461,565	)
Total Liabilities and Stockholders' Deficit	$	136,869		$	112,468

The accompanying condensed notes are an integral part of these unaudited consolidated financial statements.

Ludwig Enterprises, Inc.

Consolidated Statements of Operations

(Unaudited)


	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2024			2023			2024			2023
Revenues	$	207		$	—		$	13,254		$	—
Operating expenses
General and administration expenses		319,513			161,072		$	959,160		$	845,328
Research and development		172,047			34,498			286,591			428,708
Total operating expenses		491,560			195,570			1,245,751			1,274,036
Net loss from operations		(491,353	)		(195,570	)		(1,232,497	)		(1,274,036	)
Other income (expense)
Inducement expense		(377,774	)		(186,160	)		(897,774	)		(289,017	)
Finance expense		—			—			(677,130	)		—
Interest expense		(16,815	)		(4,003	)		(38,612	)		(9,175	)
Amortization of debt discount		—			(61,733	)		(15,000	)		(434,514	)
Total other expense		(394,589	)		(251,896	)		(1,628,516	)		(732,706	)
Net loss before taxes		(885,942	)		(447,466	)		(2,861,013	)		(2,006,742	)
Income tax benefit		—			—			—			—
Net loss	$	(885,942	)	$	(447,466	)	$	(2,861,013	)	$	(2,006,742	)
Basic and diluted loss per common share	$	(0.01	)	$	(0.00	)	$	(0.02	)	$	(0.01	)
Weighted average number of common shares outstanding, basic and diluted		159,364,580			315,188,929			157,940,477			288,008,800

The accompanying condensed notes are an integral part of these unaudited consolidated financial statements.

Ludwig Enterprises, Inc.

Consolidated Statements of Changes in Stockholders’ Deficit

For the Three and Nine months Ended September 30, 2024 and 2023

(Unaudited)


	Convertible										Additional
	Preferred Stock			Common Stock			Common Stock Issuable				Paid in		Accumulated
	Shares	Amount		Shares	Amount		Shares	Amount			Capital		Deficit		Total

Balance, December 31, 2023	7,000,000	$	7,000	155,464,808	$	155,463	-	$	-	-	$	2,618,454	$	(4,242,482)	$	(1,461,565)

Common stock issuable for services	-		-	-		-	1,475,000		227,750	-		-		-		227,750
Common stock issuable for conversion of debt including inducement expense	-		-	-		-	2,080,000		520,000			-		-		520,000
Warrants issued for commitment fee	-		-	-		-	-		-			677,130		-		677,130
Net loss	-		-	-		-	-		-			-		(1,610,880)		(1,610,880)
Balance, March 31, 2024	7,000,000	$	7,000	155,464,808	$	155,463	3,555,000	$	747,750	-	$	3,295,584	$	(5,853,362)	$	(1,647,565)

Common stock issuable for services	-		-	1,475,000		1,475	(1,475,000)		(227,750)	-		226,275		-		-
Common stock issuable for conversion of debt including inducement expense	-		-	2,080,000		2,080	(2,080,000)		(520,000)			517,920		-		-
Net loss	-		-	-		-	-		-			-		(364,191)		(364,191)
Balance, June 30, 2024	7,000,000	$	7,000	159,019,808	$	159,018	-	$	-	-	$	4,039,779	$	(6,217,553)	$	(2,011,756)

Common stock issued for services	-		-	143,000		143	-		-			49,907		-		50,050
Common stock issued for research and development expenses	-		-	750,000		750	-		-	-		100,050		-		100,800
Common stock issuable for services	-		-	-		-	100,000		40,000			-		-		40,000
Warrants issued for inducement expense	-		-	-		-	-		-			377,774		-		377,774
Net loss	-		-	-		-	-		-			-		(885,942)		(885,942)
Balance, September 30, 2024	7,000,000	$	7,000	159,912,808	$	159,911	100,000	$	40,000	-	$	4,567,510	$	(7,103,495)	$	(2,329,074)


	Convertible																		Additional					Total
	Preferred Stock				Common Stock				Common Stock Issuable				Common Stock Returnable						Paid-in		Accumulated			Stockholders'
	Shares		Amount		Shares		Amount		Shares		Amount		Shares			Amount			Capital		Deficit			Deficit

December 31, 2022		7,000,000	$	7,000		315,188,929	$	315,188		—	$	—		—		$	—		$	637,577	$	(1,785,932	)	$	(826,167	)

Stock issued for license fee ($0.37.share)		—		—		1,000,000		1,000		—		—		—			—			369,000		—			370,000

Stock issued for services ($0.10 - $0.36/share)		—		—		490,000		490		—		—		—			—			175,910		—			176,400

Net loss		—		—		—		—		—		—		—			—			—		(975,829	)		(975,829	)

March 31, 2023		7,000,000		7,000		316,678,929		316,678		—		—		—			—			1,182,487		(2,761,761	)		(1,255,596	)

Stock issued for services ($0.10 - $0.143/share)		—		—		383,334		383		—		—		—			—			45,600		—			45,983

Conversion of debt to common stock ($0.11/share) including inducement expense		—		—		6,298,703		6,299		—		—		—			—			789,416		—			795,715
Net loss		—		—		—		—		—		—		—			—			—		(583,447	)		(583,447	)

June 30, 2023		7,000,000		7,000		323,360,966		323,360		—		—		—			—			2,017,503		(3,345,208	)		(997,345	)

Stock issued for services ($0.173/share)		—		—		210,000		210		—		—		—			—			36,120		—			36,330

Common stock issuable in connection with the extension of notes and convertible notes including inducement expense ($0.179/share)		—		—		—		—		1,040,000		1,040		—			—			185,120		—			186,160
Stock repurchased and returnable in exchange for note payable ($0.001) - related party - net		—		—		—		—		—		—		(171,162,746	)		(171,163	)		48,290		—			(122,873	)

Net loss		—		—		—		—		—		—		—			—			—		(447,466	)		(447,466	)

September 30, 2023		7,000,000	$	7,000		323,570,966	$	323,570		1,040,000	$	1,040		(171,162,746	)	$	(171,163	)	$	2,287,033	$	(3,792,674	)	$	(1,345,194	)

The accompanying condensed notes are an integral part of these unaudited consolidated financial statements

Ludwig Enterprises, Inc.

Consolidated Statements of Cash Flows

(Unaudited)


	Nine Months Ended September 30,
	2024			2023

Cash Flows from Operating Activities:
Net loss	$	(2,861,013	)	$	(2,006,742	)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock issued for services		277,800			258,713
Stock issued for research and development		100,800			—
Stock issuable for services		40,000			—
Stock warrants issued for finance expense		677,130			—
Stock issued for license fee		—			370,000
Amortization of debt discount		15,000			434,514
Inducement expense		897,774			289,017
Provision for obsolete inventory		—			46,981
Changes in operating assets and liabilities:
Inventory		—			(46,981	)
Prepaid expenses		(29,384	)		(4,133	)
Accounts payable and accrued liabilities		357,910			79,066
Net Cash Used in Operating Activities		(523,983	)		(579,565	)

Cash Flows from Financing Activities:
Deferred offering cost		(60,000	)		—
Proceeds from convertible notes payable - net		524,000			70,000
Repayment of convertible note and guaranteed interest		(55,000	)		—
Cash advance from investor		50,000			—
Net Cash Provided by Financing Activities		459,000			70,000

Net change in cash		(64,983	)		(509,565	)
Cash, beginning of period		108,335			516,195
Cash, end of period	$	43,352		$	6,630

Supplemental cash flow information:
Cash paid for interest	$	5,000		$	—
Cash paid for taxes	$	—		$	—

Supplemental disclosure of non-cash financing activity
Original issuance debt and guaranteed interest as debt discount	$	15,000		$	30,000
Conversion of notes payable into common stock	$	—		$	692,858
Stock repurchased and returnable in exchange for note payable - related party - net	$	—		$	122,873

The accompanying condensed unaudited notes are an integral part of these unaudited consolidated financial statements.

LUDWIG ENTERPRISES, INC.

CONDENSED NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

September 30, 2024

(Unaudited)

Note 1–- Organization and Nature of Operations

Organization and Nature of Operations

Ludwig Enterprises, Inc. (collectively, “we,” “us,” “our” or the “Company”), a Nevada Corporation (incorporated February 2006). In August 2024, the Board of Directors of the Company and the holders of 81.48% of the outstanding voting securities of the Company approved an amendment to the Company’s Articles of Incorporation, as amended, to change the Company’s corporate name to “Revealia, Inc.” The name change is pending approval of the State of Nevada and from FINRA.

The Company is currently seeking to develop products and services through the use of cutting-edge technologies in the health care industry.

Formation of Subsidiaries

On May 18, 2022, the Company formed mRNA for Life, Inc. (“mRNA”), a Wyoming corporation, which is a wholly-owned subsidiary of the Company. mRNA is expected to produce supplements to address clinical diagnoses from mRNA cheek swabs.

On November 18, 2022, the Company formed Precision Genomics, Inc. (“PGI”), a Wyoming corporation, which is a wholly-owned subsidiary of the Company. PGI will be developing proprietary medical artificial intelligence (“AI”) technology that uses mRNA inflammatory language to potentially capture an inflammatory snapshot of disease and the body’s response to treatment.

On June 6, 2023, the Company formed Exousia Ai, Inc. (“EXO”), a Wyoming corporation, which is a wholly-owned subsidiary of the Company. EXO was formed to focus on studying the expression of differentially expressed mRNA genes in various chronic inflammatory diseases.

Liquidity, Going Concern and Management’s Plans

These financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of business.

As reflected in the accompanying financial statements, for the nine months ended September 30, 2024, the Company had:

Net loss of $2,861,013; and

Net cash used in operations was $523,983

Additionally, at September 30, 2024, the Company had:

Accumulated deficit of $7,103,495

Stockholders’ deficit of $2,329,074; and

Working capital deficit of $2,329,074

The Company has cash on hand of $43,352 at September 30, 2024. The Company does not expect to generate sufficient revenues and positive cash flows from operations to meet its current obligations. However, the Company may seek to raise debt or equity-based capital at favorable terms, though such terms are not certain.

These factors create substantial doubt about the Company’s ability to continue as a going concern within the twelve-month period subsequent to the date that these financial statements are issued.

The consolidated financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern. Accordingly, the financial statements have been prepared on a basis that assumes the Company will continue as a going concern and which contemplates the realization of assets and satisfaction of liabilities and commitments in the ordinary course of business.

Management’s strategic plans include the following:

Execute business operations more fully during the year ended December 31, 2024,

Seek out strategic acquisitions of health care technology; and

Explore prospective partnership opportunities

Note 2–- Summary of Significant Accounting Policies

Basis of Presentation

The Company prepares its financial statements in accordance with rules and regulations of the U.S. Securities and Exchange Commission (“SEC”) and accordance with accounting principles generally accepted in the United States of America (“GAAP”). The accompanying interim financial statements have been prepared in accordance with GAAP for interim financial information in accordance with Article 8 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the Company’s opinion, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the nine months ended September 30, 2024, are not necessarily indicative of the results for the full year. While management of the Company believes that the disclosures presented herein are adequate and not misleading, these unaudited interim financial statements should be read in conjunction with the audited financial statements and the footnotes thereto for the year ended December 31, 2023, contained in the Company’s Form 10-K filed with the SEC on April 16, 2024.

Principles of Consolidation

These consolidated financial statements have been prepared in accordance with U.S. GAAP and include the accounts of the Company and its wholly owned subsidiaries mRNA and EXO. All intercompany transactions and balances have been eliminated.

Use of Estimates

Preparing financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and revenues and expenses during the reported period. Actual results could differ from those estimates, and those estimates may be material.

Changes in estimates are recorded in the period in which they become known. The Company bases its estimates on historical experience and other assumptions, which include both quantitative and qualitative assessments that it believes to be reasonable under the circumstances.

Significant estimates during the nine months ended September 30, 2024 and 2023 include valuation of stock-based compensation, uncertain tax positions, and the valuation allowance on deferred tax assets.

Fair Value of Financial Instruments

The Company accounts for financial instruments under Financial Accounting Standards Board (“FASB”) ASC 820, Fair Value Measurements. ASC 820 provides a framework for measuring fair value and requires disclosures regarding fair value measurements. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, based on the Company’s principal or, in absence of a principal, most advantageous market for the specific asset or liability.

The Company uses a three-tier fair value hierarchy to classify and disclose all assets and liabilities measured at fair value on a recurring basis, as well as assets and liabilities measured at fair value on a non-recurring basis, in periods subsequent to their initial measurement. The hierarchy requires the Company to use observable inputs when available, and to minimize the use of unobservable inputs, when determining fair value.

The three tiers are defined as follows:

Level 1–- Observable inputs that reflect quoted market prices (unadjusted) for identical assets or liabilities in active markets;

Level 2–- Observable inputs other than quoted prices in active markets that are observable either directly or indirectly in the marketplace for identical or similar assets and liabilities; and

Level 3–-Unobservable inputs that are supported by little or no market data, which require the Company to develop its own assumptions.

The determination of fair value and the assessment of a measurement’s placement within the hierarchy requires judgment. Level 3 valuations often involve a higher degree of judgment and complexity. Level 3 valuations may require the use of various cost, market, or income valuation methodologies applied to unobservable management estimates and assumptions. Management’s assumptions could vary depending on the asset or liability valued and the valuation method used. Such assumptions could include estimates of prices, earnings, costs, actions of market participants, market factors, or the weighting of various valuation methods. The Company may also engage external advisors to assist us in determining fair value, as appropriate.

Although the Company believes that the recorded fair value of our financial instruments is appropriate, these fair values may not be indicative of net realizable value or reflective of future fair values.

The Company’s financial instruments are carried at historical cost. At September 30, 2024 and December 31, 2023, respectively, the carrying amounts of these instruments approximated their fair values because of the short-term nature of these instruments.

ASC 825-10 ”Financial Instruments” allows entities to voluntarily choose to measure certain financial assets and liabilities at fair value (“fair value option”). The fair value option may be elected on an instrument-by-instrument basis and is irrevocable unless a new election date occurs. If the fair value option is elected for an instrument, unrealized gains and losses for that instrument should be reported in earnings at each subsequent reporting date. The Company did not elect to apply the fair value option to any outstanding financial instruments.

Cash and Cash Equivalents and Concentration of Credit Risk

For purposes of the statements of cash flows, the Company considers all highly liquid instruments with a maturity of three months or less at the purchase date and money market accounts to be cash equivalents.

At September 30, 2024 and December 31, 2023, respectively, the Company did not have any cash equivalents.

The Company is exposed to credit risk on its cash and cash equivalents in the event of default by the financial institutions to the extent account balances exceed the amount insured by the FDIC, which is $250,000.

At September 30, 2024 and December 31, 2023, the Company’s cash balances exceeded FDIC insured limits by $0. The Company did not have any losses on cash in excess of the insured FDIC limit.

Revenue recognition

Revenues are recognized when control of the promised goods or services are transferred to a customer, in an amount that reflects the consideration that the Company expects to receive in exchange for those goods or services. The Company applies the following five steps in order to determine the appropriate amount of revenue to be recognized as it fulfills its obligations under each of its agreements:

identify the contract with a customer;

identify the performance obligations in the contract;

determine the transaction price;

allocate the transaction price to performance obligations in the contract; and

recognize revenue as the performance obligation is satisfied.

Research and Development

The Company accounts for research and development costs in accordance with ASC subtopic 730-10, Research and Development (“ASC 730-10”).

Under ASC 730-10, all research and development costs must be charged to expense as incurred. Accordingly, internal research and development costs are expensed as incurred. Third-party research and development costs are expensed when the contracted work has been performed or as milestone results have been achieved as defined under the applicable agreement. Company-sponsored research and development costs related to both present and future products are expensed in the period incurred.

The Company incurred research and development expenses of $286,591 and $428,708 for the nine months ended September 30, 2024 and 2023, respectively.

Advertising Costs

Advertising costs are expensed as incurred. Advertising costs are included as a component of general and administrative expense in the statements of operations.

The Company recognized $174,303 and $121,397 in marketing and advertising costs during the nine months ended September 30, 2024 and 2023, respectively.

Deferred Offering Costs

Pursuant to ASC 340-10-S99-1, costs directly attributable to an offering of equity securities are deferred and would be charged against the gross proceeds of the offering as a reduction of additional paid-in capital. Deferred offering costs consist of underwriting, legal, accounting, and other expenses incurred through the balance sheet date that are directly related to the proposed public offering. Should the proposed public offering prove to be unsuccessful, these deferred costs, as well as additional expenses to be incurred, will be expensed.

As at September 30, 2024 and December 31, 2023, deferred offering costs consisted of the following:

Schedule of deferred offering costs
	September 30,		December 31,
	2024		2023
General and administrative expenses	$	60,000	$	—
	$	60,000	$	—

Stock-Based Compensation

The Company accounts for our stock-based compensation under ASC 718 “Compensation – Stock Compensation” using the fair value-based method. Under this method, compensation cost is measured at the grant date based on the value of the award and is recognized over the service period, which is usually the vesting period. This guidance establishes standards for the accounting for transactions in which an entity exchanges it equity instruments for goods or services. It also addresses transactions in which an entity incurs liabilities in exchange for goods or services that are based on the fair value of the entity’s equity instruments or that may be settled by the issuance of those equity instruments.

The Company uses the fair value method for equity instruments granted to non-employees and use the Black-Scholes model for measuring the fair value of options and common stock warrant.

The fair value of stock-based compensation is determined as of the date of the grant or the date at which the performance of the services is completed (measurement date) and is recognized over the vesting periods.

When determining fair value, the Company considers the following assumptions in the Black-Scholes model:

Exercise price,

Expected dividends,

Expected volatility,

Risk-free interest rate; and

Expected life of option

Warrants

The Company accounts for warrants as either equity-classified or liability-classified instruments based on an assessment of the warrant’s specific terms and applicable authoritative guidance in FASB ASC 480, Distinguishing Liabilities from Equity (“ASC 480”) and ASC 815, Derivatives and Hedging (“ASC 815”). The assessment considers whether the warrants are freestanding financial instruments pursuant to ASC 480, meet the definition of a liability pursuant to ASC 480, and whether the warrants meet all of the requirements for equity classification under ASC 815, including whether the warrants are indexed to the Company’s own ordinary shares and whether the warrant holders could potentially require “net cash settlement” in a circumstance outside of the Company’s control, among other conditions for equity classification. This assessment, which requires the use of professional judgment, is conducted at the time of warrant issuance and as of each subsequent quarterly period end date while the warrants are outstanding.

Basic and Diluted Earnings (Loss) per Share

Pursuant to ASC 260-10-45, basic loss per common share is computed by dividing net loss by the weighted average number of shares of common stock outstanding for the periods presented. Diluted loss per share is computed by dividing net loss by the weighted average number of shares of common stock, common stock equivalents and potentially dilutive securities outstanding during the period. Potentially dilutive common shares may consist of common stock issuable for stock options and warrants (using the treasury stock method), convertible preferred stock, convertible notes and common stock issuable. These common stock equivalents may be dilutive in the future.

At September 30, 2024 and December 31, 2023, respectively, the Company had the following common stock equivalents, which are potentially dilutive equity securities:


	September 30, 2024		December 31, 2023

Convertible Preferred Stock		700,000,000		700,000,000
Convertible notes		4,840,000		—
Common stock issuable		100,000		1,040,000
Warrant		5,145,943		—

Each share of preferred stock (7,000,000 shares) is convertible into 100 shares of common stock.

New Accounting Standard Adopted

In June 2022, the FASB issued ASU 2022-03, ASC Subtopic “Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions”. These amendments clarify that a contractual restriction on the sale of an equity security is not considered part of the unit of account of the equity security and, therefore, is not considered in measuring fair value. The amendments in this update are effective for public business entities for fiscal years, including interim periods within those fiscal years, beginning after December 15, 2023. Early adoption is permitted. The Company is currently assessing the impact of the adoption of this standard on its consolidated financial statements.

This guidance was adopted on January 1, 2024. The adoption of ASU 2022-03 did not have a material impact on the Company's consolidated financial statements.

Recent Accounting Pronouncements

We have evaluated all recently issued, but not yet effective, accounting pronouncements and do not believe that these accounting pronouncements will have any material impact on our consolidated financial statements or disclosures upon adoption.

Note 3 – Notes Payable and Convertible Notes Payable

Notes Payable - Net

Notes payable are summarized as follows:

Schedule of notes payable
		Maturity	Interest		September 30,		December 31,
Issue Date		Date	Rate	Collateral	2024		2023
June 2012⁽¹⁾⁽³⁾		April 2025	8%	Unsecured	$	6,240	$	6,240
May 2014⁽¹⁾⁽³⁾		April 2025	8%	Unsecured		3,456		3,456
June 2016⁽¹⁾⁽³⁾		April 2025	8%	Unsecured		38,216		38,216
January 2017⁽¹⁾⁽³⁾		April 2025	8%	Unsecured		7,344		7,344
November 2020⁽¹⁾⁽³⁾		April 2025	12%	Unsecured		46,480		46,480
March 2021⁽¹⁾⁽³⁾		April 2025	8%	Unsecured		5,400		5,400
November 2021^(1),(2)		April 2025	0%	Unsecured		250,000		250,000
February 2022^(1),(2)		April 2025	0%	Unsecured		150,000		150,000
August 2023^(1),(2)		April 2025	8%	Unsecured		122,873		122,873
January 2023 ^{(1) (2)}		April 2025	0%	Unsecured		100,000		100,000
October 2022 ^{(1) (2)}		April 2025	0%	Unsecured		440,000		440,000
November 2022 ^{(1) (2)}		April 2025	0%	Unsecured		100,000		100,000
				Notes payable	$	1,270,009	$	1,270,009
(1)	In November 2023, the convertible notes were amended to remove the conversion features and the Company reclassified $640,000 from convertible notes to notes payable
(2)	In October 2024, the Company entered into agreements with 6 noteholders, extending the maturity on their notes to April 1, 2025. In consideration thereof, each noteholder will, upon a successful uplisting to a senior exchange, be repaid their original purchase price and the OID discount and any accrued interest will be converted to common stock at a price of $0.10/share.
(3)	In October 2024, the Company entered into agreements with 6 noteholders, extending the maturity on their notes to April 1, 2025. In consideration thereof, each noteholder will, upon a successful uplisting to a senior exchange, be repaid 50% of their original principal and the balance of the any accrued interest will be converted to common stock at a price of $0.10/share.

Convertible Notes Payable - Net

The Company had the following activity related to its convertible notes payable:


Balance - December 31, 2023	$	100,000
Proceeds (face amount of note)		534,000
Guaranteed interest recorded to convertible note payable		5,000
Original issue debt discount		(10,000	)
Guaranteed interest – debt discount		(5,000	)
Repayments including guaranteed interest		(55,000	)
Amortization of debt discount		15,000
Balance - September 30, 2024	$	584,000

Convertible Notes Payable are summarized as follows:

Schedule of convertible notes payable
				September 30,		December 31,
Issue Date	Maturity Date	Interest Rate	Collateral	2024		2023
October 2023⁽¹⁾	April, 2025	8%	Unsecured	$	100,000		100,000
March 2024	March 2025	8%	Unsecured		150,000		-
March 2024	March 2025	8%	Unsecured		50,000		-
March 2024	March 2025	8%	Unsecured		50,000		-
April 2024	April 2025	8%	Unsecured		10,000		-
April 2024	April 2025	8%	Unsecured		20,000		-
May 2024	May 2025	8%	Unsecured		10,000		-
May 2024	May 2025	8%	Unsecured		100,000		-
July 2024	July 2025	8%	Unsecured		5,000		-
July 2024	July 2025	8%	Unsecured		15,000		-
July 2024	July 2025	8%	Unsecured		10,000		-
July 2024	July 2025	8%	Unsecured		4,000		-
July 2024	July 2025	8%	Unsecured		50,000		-
August 2024	August 2025	8%	Unsecured		10,000		-
				$	584,000	$	100,000
			Convertible notes payable		584,000	$	100,000

Notes Issued in 2024

In February, 2024, the Company entered into a securities purchase agreement (the “SPA”), pursuant to which the Company agreed to issue to the Investor a Promissory Note (the “Note”), dated February 12, 2024, in the principal amount of $50,000. The Note was funded by the Investor on February 15, 2024, with the Company receiving funding of $40,000, net of OID of $15,000, including guaranteed interest of 10% per calendar year, or $5,000. The Note matures on May 12, 2024. In July, 2024 the Company extended the maturity on the note to October 1, 2024. In consideration thereof, the noteholder received a warrant to purchase 2 shares of the Company’s common stock for each $1 of indebtedness they held, at an exercise price of $0.30 per share and an expiration date of July 16, 2026. The shares underlying each warrant are to be included in the Company’s next-filed registration statement with the Securities and Exchange Commission on Form S-1. Only upon an event of default that shall not have been cured, the Note is convertible into shares of the Company’s common stock at any time at a conversion price equal to the lowest traded price of the Common Stock during the thirty (30) business days prior to the relevant notice of conversion; provided, however, that the Investor may not convert the Note to the extent that such conversion would result in the investor’s beneficial ownership of the Company’s common stock being in excess of 9.99% of the Company’s then-issued and outstanding common stock. The Note was repaid on May 9, 2024.

Between March 2024 and August, 2024, the Company entered into securities purchase agreements (the “SPAs”) with 13 individuals, pursuant to which the Company agreed to issue to the Investors Promissory Notes (the “Notes”), in the aggregate principal amount of $484,000 with an interest rate of 8% per annum. The Notes mature twelve (12) months from the dates of issue. The principal amounts of the notes together with any accrued interest are convertible into common shares at any time prior or at maturity at a price of $0.10 per common share. The Notes, together with any accrued interest, shall automatically convert into common shares at a price of $0.10 per share upon the successful uplisting of the Company’s common stock onto the NASDAQ, CBOE or NYSE American stock exchanges.

Inducements

In March 2024, the Company recorded 2,080,000 shares of common stock issuable as inducements to 7 individuals for the extension of 7 promissory notes to July 1, 2024, which shares were valued at $0.25 per share. All shares were issued in April 2024. The Company recognized the extensions as debt extinguishment and recorded $520,000 as inducement expense.

In July 2024, the Company entered into agreements with 16 noteholders, extending the maturity on their notes to October 1, 2024. In consideration thereof, each noteholder received a warrant to purchase 2 shares of the Company’s common stock for each $1 of indebtedness they held, for an aggregate of 16 warrants exercisable into 2,541,276 shares of common stock, at an exercise price of $0.30 per share and an expiration date of July 16, 2026. The Company recorded $377,774 as inducement expense. In October, 2024, the Notes were further extended to April, 2025.

Interest expense

During the nine months ended September 30, 2024 and 2023, the Company recorded interest expense for notes payable and convertible notes of $38,612 and $9,175, respectively.

Note 4 – Commitments and Contingencies

On September 5, 2023, we entered into an employment agreement with Marvin S. Hausman, M.D., pursuant to which Dr. Hausman serves as our Chief Executive Officer. Under his employment agreement, we will pay Dr. Hausman $5,000 per month. In addition, we will pay Dr. Hausman an amount equal to 10% of gross sales revenues attributable to Dr. Hausman’s efforts, in perpetuity.

On September 5, 2023, we entered into an employment agreement with Thomas Terwilliger, pursuant to which Mr. Terwilliger serves as our Chief Operating Officer, Treasurer and Secretary. Under his employment agreement, we will pay Mr. Terwilliger $5,000 per month. In addition, we will pay Mr. Terwilliger an amount equal to 10% of gross sales revenues attributable to Mr. Terwilliger’s efforts, in perpetuity. On November 28, 2023, Mr. Terwilliger resigned as Chief Operating Officer, but continued to provide limited services to the company on an outsourced basis. As of July 2024, Mr. Terwilliger no longer provides services to the Company and his agreement has been terminated.

On November 15, 2023, we entered into a Financial Advisory Services Agreement with Thornhill Advisory Group, Inc. (f/k/a EverAsia Financial Group, Inc.), a financial consulting firm owned by Scott J. Silverman, who, in conjunction with the execution the CFO Agreement, was appointed as our Chief Financial Officer. Under the CFO Agreement, the Company is obligated to make monthly payments of $8,750, as follows:

Beginning from the execution date of the CFO Agreement and continuing until the Company raises $750,000 in equity or debt financing (the “Accrual Period”), the Company is obligated to make the monthly payments described in the following table:

Schedule of monthly payment
Funds Raised	Paid Monthly	Accrued Monthly
$0 – $250,000	$3,750	$5,000
$250,000 – $750,000	$5,000	$3,750

Upon the Company’s raising of $750,000, it shall pay the accrued amount in cash. Thereafter, the Company

shall pay the entire monthly payment without accrual.

On April 1, 2024,,Jose Antonio Reyes. signed an Offer Letter for his employment as our Chief Operating Officer. In September 2024, Mr. Reyes was named as our Chief Executive Officer. Pursuant to the terms of his employment, the Company is obliged to make monthly payments to Mr. Reyes of $8,750, as follows:

Beginning from the execution date of the Offer Letter and continuing until the Company raises $750,000 in equity or debt financing (the “Accrual Period”), the Company is obligated to make the monthly payments described in the following table:

Schedule of monthly payment
Funds Raised	Paid Monthly	Accrued Monthly
$0 – $250,000	$3,750	$5,000
$250,000 – $750,000	$5,000	$3,750

Upon the Company’s raising of $750,000, it shall pay the accrued amount in cash. Thereafter, the Company shall pay the entire monthly payment without accrual.

On April 1, 2024,,Marvin S. Hausman., M.D. signed an Offer Letter for his employment as our Chief Science Officer. Additionally, Dr. Hausman serves as our Chairman of the Board of Directors. Pursuant to the terms of his employment, the Company is obliged to make monthly payments to Dr. Hausmanof $8,750, as follows:

Schedule of monthly payment
Funds Raised	Paid Monthly	Accrued Monthly
$0 – $250,000	$3,750	$5,000
$250,000 – $750,000	$5,000	$3,750

Upon the Company’s raising of $750,000, it shall pay the accrued amount in cash. Thereafter, the Company shall pay the entire monthly payment without accrual.

From September 5, 2023 until April 1, 2024, Marvin S. Hausman, M.D., served as our Chief Executive Officer. Under his employment agreement, we paid Dr. Hausman $5,000 per month. In addition, we were to pay Dr. Hausman an amount equal to 10% of gross sales revenues attributable to Dr. Hausman’s efforts, in perpetuity.

From July 1, 2022, to September 5, 2023, Dr. Hausman provided services on behalf of our company, pursuant to a consulting agreement. Under his consulting agreement, we paid Dr. Hausman $5,000 per month. In addition, we were responsible for paying Dr. Hausman an amount equal to 10% of gross sales revenues attributable to Dr. Hausman’s efforts, in perpetuity. We made no payments to Dr. Hausman based on sales, during the term of his consulting agreement.

In August 2024, the Company acquired patent pending (“Patent”) for an mRNA Neuro Panel and Serotonin Assay, which Patent was lodged by Nova on or about April 26, 2024, as U.S. Patent Application 18/705375, International Publication Number WO 2023/077245, captioned as “Diagnosing, Monitoring and Treating Neurological Disease with Psychoactive Tryptamine Derivatives and mRNA Measurements” (“IP” or “Patent”) from Nova Mentis Life Science Corp. in exchange for the issuance of 750,000 shares of common stock with a fair market value of $100,800, the forgiveness of $245,712 in consulting fees owed to Dr. Marvis S. Hausman, our Chief Scientific Officer and Chairman of the Board of Directors, and a royalty of 5%, payable 2.5% each to Dr. Marvin Hausman and to Nova Mentis Life Sciences Corp., respectively, of all revenue derived from Commercialization for a period of 10 years from the date of execution of the Agreement. The Company recognized the purchase of the patent as a R&D development and recorded R&D expense of $100,800.

Note 5 – Stockholders’ Deficit

The Company has two (2) classes of stock:

Common Stock

1,250,000,000 shares authorized

$0.001 par value

Voting at 1 vote per share

Preferred Stock

In May 2022 and December 2022, the Company’s Articles of Incorporation, as amended, authorized the issuance of 7,000,000 shares of preferred stock which may be amended from time to time in one or more series. The Board of Directors is authorized to determine, prior to issuing any such series of preferred stock and without any vote or action by the shareholders, the rights, preferences, privileges and restrictions of the shares of such series, including dividend rights, voting rights, terms of redemption, the provisions of any purchase, retirement or sinking fund to be provided for the shares of any series, conversion and exchange rights, the preferences upon any distribution of the assets of the Company, including in the event of voluntary or involuntary liquidation, dissolution or winding up of the Company, and the preferences and relative rights among each series of preferred stock.

The Board of Directors has made the following designations of its preferred stock.

Series A, Convertible Preferred Stock

7,000,000 shares authorized.

$0.001 par value.

Conversion feature–-each share of preferred stock is convertible into 100 shares of common stock.

Voting–-on an as converted basis with common stock, at the applicable conversion rate (100 votes for each share of convertible preferred held).

Dividends–-accrued only upon declaration of the board of directors, at the applicable conversion rate.

Mandatorily redeemable (automatic conversion) on January 1, 2025. (See below amendment)

Anti-dilution provision – rights exist for the period of two years after the convertible preferred shares were converted into common stock. Additionally, holders of the convertible preferred stock will have full ratchet anti-dilution protection rights at the rate of 65% calculated on a fully diluted basis. (See below amendment)

In connection with the issuance of these Series A, convertible preferred shares, the Company determined that there were no provisions within ASC 815 that were met, which would require derivative liability accounting treatment. Specifically, as noted below, upon amending the terms of the Series A, convertible preferred stock, at that time, there had been no new stock issuances of any type which may have triggered the anti-dilution provision.

In December 2022, the Company amended its articles of incorporation related to certain terms of its Series A, convertible preferred stock. At that time, the Company, along with approval from its convertible preferred stockholders agreed to remove provisions related to mandatory redemption as well as anti-dilution rights.

At September 30, 2024 and December 31, 2023, the Company had 7,000,000 shares issued and outstanding. See below for related issuances.

Equity Transactions for fiscal year 2024

During the nine months ended September 30, 2024, the Company issued 4,448,000 shares of common stock as follows:

225,000 shares of common stock to three individuals as bonuses for their services valued at $0.29 per share, the closing price on the date of issue as quoted on OTCMarkets.com, for a total of $65,250.

1,250,000 shares of common stock to an individual for his services. Such shares of common stock were issued as compensation (250,000 shares pursuant to a consulting agreement and 1,000,000 shares as a performance bonus) valued at $0.13 per share, the closing price on the date of issue as quoted on OTCMarkets.com, for a total of $162,500.

143,000 shares of common stock for marketing and advertising service valued at $50,050.

2,080,000 shares of common stock as inducements to enter into promissory notes with the Company, valued at $0.25 per share, the closing price on the date of issue as quoted on OTCMarkets.com, for a total of $520,000

750,000 shares of common stock for research and development activities valued at $0.13 per share, the closing price on the date of issue as quoted on OTCMarkets.com, for a total of $100,800.

During the nine months ended September 30, 2024, the Company recorded 100,000 shares of common stock issuable for marketing and advertising service valued at $40,000.

Securities Purchase Agreement

On February 12, 2024, the Company entered into a Common Stock Purchase Agreement (the “Purchase Agreement”), together with a registration rights agreement (the “Registration Rights Agreement”) with an institutional investor (the “Investor”), pursuant to which the Company has the right to sell to the Investor up to $5,000,000 in shares of its common stock (“Common Stock”), subject to certain limitations. The Investor was also issued a 5five-year warrant (the “Warrant”) to purchase 2,604,667 shares of Common Stock (the “Warrant Shares”) with standard anti-dilution provisions and cashless exercise.

Under the terms and subject to the conditions of the Purchase Agreement, the Investor is obligated to purchase up to $5,000,000 in shares of Common Stock (subject to certain limitations) from time to time over the period commencing on the date of the Purchase Agreement and ending on June 30, 2025. The price per share of Common Stock shall be eighty percent (80%) of the lowest traded price of the Common Stock for the six trading days following the closing date associated with the purchase notice delivered by the Company to the Investor. The maximum amount of each purchase notice shall be the lesser of (a) $250,000 or (b) two hundred fifty percent (250%) of the average daily trading volume during the six business days prior to the date associated with the purchase notices delivered by the Company to the Investor.

The Company’s sales of shares of Common Stock to the Investor under the Purchase Agreement are limited to no more than the number of shares that would result in the beneficial ownership by the Investor and its affiliates, at any single point in time, of more than 4.99% of the then-outstanding shares of the Common Stock; provided, however, that the Investor may increase the beneficial ownership limitation up to 9.99%, at its sole discretion, upon sixty-one (61) days’ prior written notice to the Company.

The Company agreed with the Investor that it will not enter into any other equity line or similar agreements without the prior consent of the Investor.

Pursuant to the terms of the Registration Rights Agreement, the Company shall file a registration statement with the SEC with respect to the shares of Common Stock issuable to the Investor pursuant to the Purchase Agreement and the Warrant Shares within 20 calendar days.

The Purchase Agreement and the Registration Rights Agreement contain customary representations, warranties and agreements of the Company and the Investor and customary conditions to completing future sale transactions, indemnification rights and obligations of the parties.

The Company has not sold any shares to the Investor as of September 30, 2024.

Equity Incentive Plan

In August 2024 the Company adopted a stock incentive plan in order to attract and retain employees and other service providers. In connection therewith, the Company filed with the SEC a Registration Statement on Form S-8 under Section 5 of the Securities Act of 1933, initially registering 30,000,000 shares of common stock of the Company.

Note 6 – Warrants

In February 2024, the Company issued 2,604,667 warrants in connection with the Purchase Agreement (Note 5), valued at $677,130. The Warrants expire five (5) years from the date of issuance. The warrants were earned and issued without recourse upon signature of the Purchase Agreement (Note 5) and recorded as a finance expense. The exercise price per warrant shall be calculated by dividing $30,000,000 by the total number of outstanding shares of common stock as of the exercise date.

In July 2024, the Company issued 2,541,276 warrants in connection with the extension of maturity of notes payable (Note 3), valued at $377,774 recorded as an inducement expense. The Warrants expire two (2) years from the date of issuance with an exercise price of $0.30 per share.

A summary of activity of the warrants during the nine months ended September 30, 2024, is follows:

Schedule of activity of the warrants
	Number of		Weighted average	Weighted average
	Warrant		Exercise price	Remaining life (year)
Outstanding at December 31, 2023	-	$	-	-
Grant	5,145,943		0.25	3.52
Exercised	-		-	-
Cancelled	-		-	-
Outstanding at September 30, 2024	5,145,943	$	0.25	3.10

Exercisable at September 30, 2024	5,145,943	$	0.25	3.10

The intrinsic value of the warrants as of September 30, 2024, is $0. All of the outstanding warrants are exercisable as of September 30, 2024.

Valuation

The Company utilizes the Black-Scholes model to value its warrants. The Company utilized the following assumptions:

Schedule of valuation assumptions
	Nine months ended
	September 30, 2024
Expected term		2 - 5 years
Expected average volatility		241 - 338	%
Expected dividend yield		—
Risk-free interest rate		4.13 - 4.43	%

Note 7 – Subsequent Events

In October 2024, the Company entered into agreements with 16 noteholders, extending the maturity on their notes to April 1, 2025. In consideration thereof, each noteholder will, upon a successful uplisting to a senior exchange, be repaid their original principal and any accrued interest will be converted to common stock at a price of $0.10/share.

In October 2024, the Company entered into agreements with 1 noteholders, extending the maturity on their note to April 1, 2025. In consideration thereof, the noteholder will, receive 500,000 shares of common stock.

In November, 2024, the Company entered into securities purchase agreements (the “SPAs”) with 3 individuals, pursuant to which the Company agreed to issue to the Investors Promissory Notes (the “Notes”), in the aggregate principal amount of $94,708 with an interest rate of 8% per annum. The Notes mature twelve (12) months from the dates of issue. The principal amounts of the notes together with any accrued interest are convertible into common shares at any time prior or at maturity at a price of $0.10 per common share. The Notes, together with any accrued interest, shall automatically convert into common shares at a price of $0.10 per share upon the successful uplisting of the Company’s common stock onto the NASDAQ, CBOE or NYSE American stock exchanges.

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations

You should read the following discussion and analysis of our financial condition and results of our operations together with our consolidated financial statements and the notes thereto appearing elsewhere in this prospectus. This discussion contains forward-looking statements reflecting our current expectations, whose actual outcomes involve risks and uncertainties. Actual results and the timing of events may differ materially from those stated in or implied by these forward-looking statements due to a number of factors, including those discussed in the sections entitled “Risk Factors,” “Cautionary Statement Regarding Forward Looking Statements” and elsewhere herein. Please see the notes to our Financial Statements for information about our Critical Accounting Policies and Recently Issued Accounting Pronouncements.

Forward looking Statements

There are “forward looking statements” contained herein. All statements that express expectations, estimates, forecasts or projections are forward-looking statements. In addition, other written or oral statements which constitute forward-looking statements may be made by us or on our behalf. Words such as “expect,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “estimate,” “project,” “forecast,” “may,” “should,” and variations of such words and similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions which are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in or suggested by such forward-looking statements. We undertake no obligation to update or revise any of the forward-looking statements after the date of this quarterly report to conform forward-looking statements to actual results. Important factors on which such statements are based are assumptions concerning uncertainties, including but not limited to, uncertainties associated with the following:

_●

Inadequate capital and barriers to raising the additional capital or to obtaining the financing needed to implement our business plans;

_●

Our failure to earn revenues or profits;

_●

Inadequate capital to continue business;

_●

Volatility or decline of our stock price;

_●

Potential fluctuation in quarterly results;

_●

Rapid and significant changes in markets;

_●

Litigation with or legal claims and allegations by outside parties; and

_●

Insufficient revenues to cover operating costs.

The following discussion should be read in conjunction with the unaudited financial statements and the notes thereto which are included in this quarterly report. This discussion contains forward-looking statements that involve risks, uncertainties and assumptions. Our actual results may differ substantially from those anticipated in any forward-looking statements included in this discussion as a result of various factors.

Overview

We are an innovative technology and health related company that is developing products that use mRNA-based genetic markers with the potential to measure the presence of inflammation, and, as a result, inflammatory driven diseases and monitor patient response to treatment. Advancements in medical technology have awarded us with cutting edge genetic tools, unheard of even a generation ago. These genetic tools have the potential to not only achieve early detection of diseases but also to support customized treatments that may improve patient outcomes. Our company is at the forefront of this new era of medicine with development of products that will embody our proprietary mRNA genomic technology that has the potential of screening for genetic biomarkers for inflammatory driven diseases, including, but not limited to, heart disease, diabetes, preeclampsia, cancer and “long COVID.”

Current Financial Condition Summary

We had a net loss of $2,861,013 for the nine months ended September 30, 2024. Additionally, we had net cash used in operating activities of $523,983 for the nine months ended September 30, 2024. At September 30, 2024, we had a working capital deficit of $2,329,074, an accumulated deficit of $7,103,495 and a stockholders’ deficit of $2,329,074, which could have a material impact on our ability to obtain needed capital.

Results of Operations

Nine months ended September 30, 2024, compared to the nine months ended September 30, 2023. For the nine months ended September 30, 2024 and 2023, we had revenue from services of $13,254 and $0, respectively. We expect that revenues from sales of our planned products will begin during the first quarter of 2025, assuming we are able to obtain needed funding of approximately $1,500,000, of which there is no assurance.

Operating Expenses. Total operating expenses for the nine months ended September 30, 2024 and 2023, were $1,245,751 and $1,274,036 respectively. The decrease in operating expenses during the nine months ended September 30, 2024, was primarily due to a significant decrease in our activities relating to research and development, as well as the reduction in payments of monthly fees to our key consultants and fees for professional services, including accounting and legal.

General and Administrative Expenses. The increase of $113,832 in general and administrative expenses for the nine months ended September 30, 2024, as compared to the nine months ended September 30, 2023, was primarily due to the decrease in our payments of monthly fees to our key consultants and fees for professional services, including accounting and legal.

Research and Development. The $286,591 and $428,708 in research and development expenses for the nine months ended September 30, 2024 and 2023, respectively, were incurred due to our determining to make expenditures in the development of our planned products, including the payment of product study-relate expenses. While we expect to continue to incur research and development expenses, we are unable to predict the level of such expenditures, due to the uncertainty of the level of funding that will be available to us.

Other Income/Expense. Total other expense for the nine months ended September 30, 2024 and 2023, were $1,628,516 and $732,706, respectively. The increase in total other expense during the nine months ended September 30, 2024, was primarily due to an increase in inducement expense associated with our extending notes payable that had reached maturity, an issuance of warrants as a financing expense and an increase in interest expense. The increases were offset by a decrease in amortization of debt discount.

Amortization of Debt Discount. During the nine months ended September 30, 2024, we incurred $15,000 in amortization of debt discount for OID and guaranteed interest on a convertible note payable. During the nine months ended September 30, 2023, we incurred amortization of debt discount expense of $434,514. We are unable to predict with any certainty our amortization of debt discount expense for all of 2024.

Interest Expense. Interest expense for the nine months ended September 30, 2024, was higher than for the nine months ended September 30, 2023, $38,612 versus $9,175. We anticipate that our interest expense for all of 2024 will be higher but are unable to make any prediction in this regard.

Net Loss. We incurred a net loss of $2,861,013 for the nine months ended September 30, 2024, as compared to a net loss of $2,006,742 for the nine months ended September 30, 2023. The increase in net loss for the nine months ended September 30, 2024, as compared to the nine months ended September 30, 2023, was primarily due to an increase interest expense, stock-based inducement and financing expenses of $1,613,516, by a decrease of $28,285 in operating expenses, a decrease of $419,514 in amortization of debt discount and an increase in interest expense of $29,437. Should we be able to obtain needed capital, as we continue to expand our business activities, we expect that our operating expenses for all of 2024 will be in excess of those incurred during the year ended December 31, 2023. However, we are unable to predict our actual operating expenses for all of 2024, due to the uncertainty surrounding our ability to obtain capital.

Liquidity and Capital Resources

September 30, 2024. At September30, 2024, the Company had $43,352 in cash and a working capital deficit of $2,329,074 compared to $108,335 in cash and a working capital deficit of $1,461,565 at December 31, 2023. The Company has sufficient working capital to fund current operating expenses at least through the third quarter of 2024. To the extent the Company requires additional funds beyond such time, we will need to obtain additional debt or equity-based capital from third parties to implement our full business plans. There is no assurance that we will be successful in obtaining such additional capital.

Cash Flows

Net Cash Used in Operating Activities. Net cash used in operating activities was $523,983 during the nine months ended September 30, 2024, compared to $320,700 used during the nine months ended September 30, 2023.

Net Cash Used in Investing Activities. Net cash used in investing activities was $-0- during the nine months ended September 30, 2024, compared to $-0- during the nine months ended September 30, 2023.

Net Cash Provided by Financing Activities. Net cash provided by financing activities was $459,000 of net cash during the nine months ended September 30, 2024, as compared to $70,000 provided during the nine months ended September 30, 2023. All of the cash provided by financing activities was proceeds from convertible promissory notes issued and an advance.

Notes Payable and Convertible Promissory Notes

Notes payable are summarized as follows:

		Maturity	Interest		September 30,		December 31,
Issue Date		Date	Rate	Collateral	2024		2023
June 2012⁽¹⁾⁽²⁾		April 2025	8%	Unsecured	$	6,240	$	6,240
May 2014⁽¹⁾⁽²⁾		April 2025	8%	Unsecured		3,456		3,456
June 2016⁽¹⁾⁽²⁾		April 2025	8%	Unsecured		38,216		38,216
January 2017⁽¹⁾⁽²⁾		April 2025	8%	Unsecured		7,344		7,344
November 2020⁽¹⁾⁽²⁾		April 2025	12%	Unsecured		46,480		46,480
March 2021⁽¹⁾⁽²⁾		April 2025	8%	Unsecured		5,400		5,400
November 2021^(1),(2)		April 2025	0%	Unsecured		250,000		250,000
February 2022^(1),(2)		April 2025	0%	Unsecured		150,000		150,000
August 2023^(1),(2)		April 2025	8%	Unsecured		122,873		122,873
January 2023 ^{(1) (2)}		April 2025	0%	Unsecured		100,000		100,000
October 2022 ^{(1) (2)}		April 2025	0%	Unsecured		440,000		440,000
November 2022 ^{(1) (2)}		April 2025	0%	Unsecured		100,000		100,000
				Notes payable	$	1,270,009	$	1,270,009
(1)	In November 2023, the convertible notes were amended to remove the conversion features and the Company reclassified $640,000 from convertible notes to notes payable
(2)	In October 2024, the Company entered into agreements with 16 noteholders, extending the maturity on their notes to April 1, 2025. In consideration thereof, each noteholder will, upon a successful uplisting to a senior exchange, be repaid their original purchase price and the OID discount and any accrued interest will be converted to common stock at a price of $0.10/share.

Convertible Notes Payable - Net

The Company had the following activity related to its convertible notes payable:

Balance - December 31, 2023	$	100,000
Proceeds (face amount of note)		534,000
Guaranteed interest recorded to convertible note payable		5,000
Original issue debt discount		(10,000	)
Guaranteed interest – debt discount		(5,000	)
Repayments including guaranteed interest		(55,000	)
Amortization of debt discount		15,000
Balance - September 30, 2024	$	584,000

Convertible Notes Payable are summarized as follows:

				September 30,		December 31,
Issue Date	Maturity Date	Interest Rate	Collateral	2024		2023
October 2023	April 2025	8%	Unsecured	$	100,000		100,000
March 2024	March 2025	8%	Unsecured		150,000		-
March 2024	March 2025	8%	Unsecured		50,000		-
March 2024	March 2025	8%	Unsecured		50,000		-
April 2024	April 2025	8%	Unsecured		10,000		-
April 2024	April 2025	8%	Unsecured		20,000		-
May 2024	May 2025	8%	Unsecured		10,000		-
May 2024	May 2025	8%	Unsecured		100,000		-
July 2024	July 2025	8%	Unsecured		5,000		-
July 2024	July 2025	8%	Unsecured		15,000		-
July 2024	July 2025	8%	Unsecured		10,000		-
July 2024	July 2025	8%	Unsecured		4,000		-
July 2024	July 2025	8%	Unsecured		50,000		-
August 2024	August 2025	8%	Unsecured		10,000		-
				$	584,000	$	100,000
			Convertible notes payable		584,000	$	100,000

Inducements

Advances

On March 28, 2024, an individual advanced the Company $50,000. There are no repayment terms on the advance as they are still under negotiation.

Going Concern

The unaudited consolidated financial statements included herein have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. As reflected in the financial statements, we had a working capital deficit of $2,329,074 at September 30, 2024, and had a net loss of $2,861,013 for the nine months ended September 30, 2024, which raises substantial doubt as to the Company’s ability to continue as a going concern for a period of one year from the issuance of the financial statements.

Off Balance Sheet Arrangements

At September 30, 2024, we did not have any off balance sheet arrangements that we believe have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenue or expenses, results of operations, liquidity, capital expenditures or capital resources that are material to investors.

Critical Accounting Policies

Our accounting policies are more fully described in our unaudited financial statements. The preparation of financial statements in conformity with generally accepted accounting principles in the United States requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Although these estimates are based on our best knowledge of current and anticipated events, actual results could differ from the estimates.

We have identified the following accounting policies as those that require significant judgments, assumptions and estimates and that have a significant impact on our financial condition and results of operations. These policies are considered critical because they may result in fluctuations in our reported results from period to period, due to the significant judgments, estimates and assumptions about complex and inherently uncertain matters and because the use of different judgments, assumptions or estimates could have a material impact on our financial condition or results of operations. We evaluate our critical accounting estimates and judgments required by our policies on an ongoing basis and update them as appropriate based on changing conditions.

Intangible asset. Intangible assets with an indefinite life, consist of store operating rights, are not amortized and are tested for impairment annually or more frequently if events or changes in circumstances indicate that they might be impaired.

Intangible assets with finite lives, consist of customer lists, are initially recorded at cost and amortized on a straight-line basis over the estimated economic useful lives of the respective assets.

Fair Value of Financial Instruments. The Company accounts for financial instruments under Financial Accounting Standards Board (“FASB”) ASC 820, Fair Value Measurements. ASC 820 provides a framework for measuring fair value and requires disclosures regarding fair value measurements. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, based on the Company’s principal or, in absence of a principal, most advantageous market for the specific asset or liability.

The three tiers are defined as follows:

	_●	Level 1 – Observable inputs that reflect quoted market prices (unadjusted) for identical assets or liabilities in active markets;

	_●	Level 2 – Observable inputs other than quoted prices in active markets that are observable either directly or indirectly in the marketplace for identical or similar assets and liabilities; and

	_●	Level 3 – Unobservable inputs that are supported by little or no market data, which require the Company to develop its own assumptions.

Derivative Liabilities. The Company analyzes all financial instruments with features of both liabilities and equity under FASB ASC Topic No. 480, (“ASC 480”), “Distinguishing Liabilities from Equity” and FASB ASC Topic No. 815, (“ASC 815”) “Derivatives and Hedging”. Derivative liabilities are adjusted to reflect fair value at each reporting period, with any increase or decrease in the fair value recorded in the results of operations (other income/expense) as change in fair value of derivative liabilities. The Company uses a binomial pricing model to determine fair value of these instruments.

Debt Discount. For certain notes issued, the Company may provide the debt holder with an original issue discount and other direct financing expenses. The original issue discount and financing expenses are recorded as a debt discount, reducing the face amount of the note, and is amortized to interest expense over the life of the debt, in the Consolidated Statements of Operations.

Research and Development. The Company accounts for research and development costs in accordance with ASC subtopic 730-10, Research and Development (“ASC 730-10”).

Stock-based Compensation. The Company accounts for our stock-based compensation under ASC 718 “Compensation – Stock Compensation” using the fair value-based method. Under this method, compensation cost is measured at the grant date based on the value of the award and is recognized over the service period, which is usually the vesting period. This guidance establishes standards for the accounting for transactions in which an entity exchanges it equity instruments for goods or services. It also addresses transactions in which an entity incurs liabilities in exchange for goods or services that are based on the fair value of the entity’s equity instruments or that may be settled by the issuance of those equity instruments.

The Company uses the fair value method for equity instruments granted to non-employees and use the Black-Scholes model for measuring the fair value of options.

When determining fair value, the Company considers the following assumptions in the Black-Scholes model:

	●	Exercise price,
	●	Expected dividends,
	●	Expected volatility,
	●	Risk-free interest rate; and
	●	Expected life of option.

Item 3. Quantitative and Qualitative Disclosures About Market Risk

We are a smaller reporting company as defined by Rule 12b-2 of the Exchange Act and are not required to provide the information required under this item.

Item 4. Controls and Procedures

Evaluation of Disclosure Controls and Procedures. Management is responsible for establishing and maintaining adequate disclosure controls and procedures that are designed to ensure that information required to be disclosed by the Company in its reports filed pursuant to the Securities Exchange Act of 1934 (the “Exchange Act”) is recorded, processed, summarized and reported within the time periods specified in the SEC’s rules and forms, and that such information is accumulated and communicated to our management, including our principal executive officer and principal financial officer, as appropriate, to allow for timely and reliable financial reporting and the preparation of financial statements in accordance with accounting principles generally accepted in the United States of America.

As of the quarter ended September 30, 2024, our principal executive officer and principal financial officer completed an assessment of the effectiveness of our disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e), to determine the existence of any material weaknesses or significant deficiencies under the Exchange Act. A material weakness is a deficiency, or a combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of the company’s annual or interim financial statements will not be prevented or detected on a timely basis. A significant deficiency is a deficiency, or a combination of deficiencies, in internal control over financial reporting that is less severe than a material weakness, yet important enough to merit attention by those responsible for oversight of the Company's financial reporting.

Based on that evaluation, we concluded that our disclosure controls and procedures over financial reporting were not effective as of September 30, 2024.

Changes in Internal Control Over Financial Reporting. There have been no changes in our internal control over financial reporting during the quarter ended September 30, 2024, that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

PART II—OTHER INFORMATION

Item 1. Legal Proceedings

We have no pending legal or administrative proceedings.

Item 1A. Risk Factors

We are a smaller reporting company as defined by Rule 12b-2 of the Exchange Act and are not required to provide the information required under this item.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

None.

Item 3. Defaults Upon Senior Securities

None.

Item 4. Mine Safety Disclosures

Not applicable.

Item 5. Other Information

None.

Item 6. Exhibits

Exhibit Description

31.1* Certification by Registrant’s Chief Executive Officer with respect to Registrant’s Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2024

31.2* Certification by Registrant’s Chief Financial Officer with respect to Registrant’s Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2024

32.1* Certification pursuant to Section 1350 of Chapter 63 of Title 18 of the United States Code by Registrant’s Chief Executive Officer and Chief Financial Officer with respect to Registrant’s Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2024

101.* INS Inline XBRL Instance Document (the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document).

101.SCH*

Inline XBRL Taxonomy Extension Schema Document.

101.CAL*

Inline XBRL Taxonomy Extension Calculation Linkbase Document.

101.DEF*

Inline XBRL Taxonomy Extension Definition Linkbase Document.

101.LAB*

Inline XBRL Taxonomy Extension Labels Linkbase Document.

101.PRE*

Inline XBRL Taxonomy Extension Presentation Linkbase Document.

104* Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101).

_______________________

* Filed herewith.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

LUDWIG ENTERPRISES, INC.

By: /s/ Jose Antonio Reyes.

Jose Antonio Reyes

Chief Executive Officer

Dated: November 14, 2024

EXHIBIT 31.1

CERTIFICATION

I, Jose Antonio Reyes, certify that:

1. I have reviewed this Quarterly Report on Form 10-Q of Ludwig Enterprises, Inc. for the fiscal period ended September 30, 2024.

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the Registrant as of, and for, the periods presented in this report;

4. The Registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the Registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the Registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the Registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in the Registrant’s internal control over financial reporting that occurred during the Registrant’s most recent fiscal quarter (the Registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the Registrant’s internal control over financial reporting; and

5. The Registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the Registrant’s auditors and the audit committee of the Registrant’s board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the Registrant’s ability to record, process, summarize, and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the Registrant’s internal control over financial reporting.

Date: November 14, 2024

By: /s/ Jose Antonio Reyes

Jose Antonio Reyes

Chief Executive Officer

EXHIBIT 31.2

I, Scott J. Silverman, certify that:

1. I have reviewed this Quarterly Report on Form 10-Q of Ludwig Enterprises, Inc. for the fiscal period ended September 30, 2024.

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the Registrant’s internal control over financial reporting.

Date: November 14, 2024

By: /s/ Scott J. Silverman

Scott J. Silverman

Chief Financial Officer [Principal Financial Officer]

EXHIBIT 32.1

CERTIFICATIONS OF PRINCIPAL EXECUTIVE OFFICER AND CHIEF FINANCIAL OFFICER

PURSUANT TO 18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

I, Jose Antonio Reyes, certify, as of the date hereof, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that the Quarterly Report of Ludwig Enterprises, Inc. on Form 10-Q for the period ended September 30, 2024, fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934 and that information contained in such Form 10-Q fairly presents in all material respects the financial condition and results of operations of Ludwig Enterprises, Inc. at the dates and for the periods indicated.

Date: November 14, 2024

By: /s/ Jose Antonio Reyes

Jose Antonio Reyes

Chief Executive Officer

I, Scott J. Silverman, certify, as of the date hereof, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that the Quarterly Report of Ludwig Enterprises, Inc. on Form 10-Q for the period ended September 30, 2024, fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934 and that information contained in such Form 10-Q fairly presents in all material respects the financial condition and results of operations of Ludwig Enterprises, Inc. at the dates and for the periods indicated.

Date: November 14, 2024

By: /s/ Scott J. Siverman

Scott J. Silverman

Chief Financial Officer [Principal Financial Officer]

A signed original of this written statement required by Section 906 has been provided to Ludwig Enterprises, Inc. and will be retained by Ludwig Enterprises, Inc. and furnished to the Securities and Exchange Commission or its staff upon request.

Cover - shares	9 Months Ended
Cover - shares	Sep. 30, 2024	Nov. 13, 2024
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Sep. 30, 2024
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2024
Current Fiscal Year End Date	--12-31
Entity File Number	333-271439
Entity Registrant Name	Ludwig Enterprises, Inc.
Entity Central Index Key	0001960262
Entity Tax Identification Number	61-1133438
Entity Incorporation, State or Country Code	NV
Entity Address, Address Line One	8950 SW 74th Ct
Entity Address, Address Line Two	Ste 2201-A149
Entity Address, City or Town	Miami
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	33156
City Area Code	786
Local Phone Number	363-0166
Entity Current Reporting Status	No
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		159,912,808

Consolidated Balance Sheets - USD ($)	Sep. 30, 2024	Dec. 31, 2023
Current Assets
Cash	$ 43,352	$ 108,335
Prepaid expenses	33,517	4,133
Deferred offering cost	60,000
Total Current Assets	136,869	112,468
Total Assets	136,869	112,468
Current Liabilities
Accounts payable and accrued liabilities	561,934	204,024
Notes payable	1,270,009	1,270,009
Convertible notes payable, net	584,000	100,000
Advance from investor	50,000
Total Current Liabilities	2,465,943	1,574,033
Total Liabilities	2,465,943	1,574,033
Stockholders' Deficit
Preferred stock: 7,000,000 authorized; $0.001 par value, 7,000,000 shares issued and outstanding	7,000	7,000
Common stock: 1,250,000,000 authorized; $0.001 par value, 159,912,808 and 155,464,808 shares issued and outstanding, respectively	159,911	155,463
Common stock issuable	40,000
Additional paid in capital	4,567,510	2,618,454
Accumulated deficit	(7,103,495)	(4,242,482)
Total Stockholders' Deficit	(2,329,074)	(1,461,565)
Total Liabilities and Stockholders' Deficit	$ 136,869	$ 112,468

Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Preferred stock, authorized	7,000,000	7,000,000
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, issued	7,000,000	7,000,000
Preferred stock, outstanding	7,000,000	7,000,000
Common stock, authorized	1,250,000,000	1,250,000,000
Common stock, par value	$ 0.001	$ 0.001
Commons stock, issued	159,912,808	155,464,808
Commons stock, outstanding	159,912,808	155,464,808

Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Statement [Abstract]
Revenues	$ 207		$ 13,254
Operating expenses
General and administration expenses	319,513	161,072	959,160	845,328
Research and development	172,047	34,498	286,591	428,708
Total operating expenses	491,560	195,570	1,245,751	1,274,036
Net loss from operations	(491,353)	(195,570)	(1,232,497)	(1,274,036)
Other income (expense)
Inducement expense	(377,774)	(186,160)	(897,774)	(289,017)
Finance expense			(677,130)
Interest expense	(16,815)	(4,003)	(38,612)	(9,175)
Amortization of debt discount		(61,733)	(15,000)	(434,514)
Total other expense	(394,589)	(251,896)	(1,628,516)	(732,706)
Net loss before taxes	(885,942)	(447,466)	(2,861,013)	(2,006,742)
Income tax benefit
Net loss	$ (885,942)	$ (447,466)	$ (2,861,013)	$ (2,006,742)
Basic loss per common share	$ (0.01)	$ (0.00)	$ (0.02)	$ (0.01)
Diluted loss per common share	$ (0.01)	$ (0.00)	$ (0.02)	$ (0.01)
Weighted average number of common shares outstanding, basic	159,364,580	315,188,929	157,940,477	288,008,800
Weighted average number of common shares outstanding, diluted	159,364,580	315,188,929	157,940,477	288,008,800

Consolidated Statements of Changes in Stockholders' Deficit (Unaudited) - USD ($)	Convertible Preferred Stocks [Member]	Common Stock [Member]	Common Stock Issuable [Member]	Common Stock Returnable [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Beginning balance, value at Dec. 31, 2022	$ 7,000	$ 315,188			$ 637,577	$ (1,785,932)	$ (826,167)
Beginning balance, shares at Dec. 31, 2022	7,000,000	315,188,929
Stock issued for license fee ($0.37.share)		$ 1,000			369,000		370,000
Stock issued for license fee ($0.37.share), shares		1,000,000
Stock issued for services ($0.173/share)		$ 490			175,910		176,400
Stock issued for services, shares		490,000
Net loss						(975,829)	(975,829)
Ending balance, value at Mar. 31, 2023	$ 7,000	$ 316,678			1,182,487	(2,761,761)	(1,255,596)
Ending balance, shares at Mar. 31, 2023	7,000,000	316,678,929
Beginning balance, value at Dec. 31, 2022	$ 7,000	$ 315,188			637,577	(1,785,932)	(826,167)
Beginning balance, shares at Dec. 31, 2022	7,000,000	315,188,929
Net loss							(2,006,742)
Ending balance, value at Sep. 30, 2023	$ 7,000	$ 323,570	$ 1,040	$ (171,163)	2,287,033	(3,792,674)	(1,345,194)
Ending balance, shares at Sep. 30, 2023	7,000,000	323,570,966	1,040,000	(171,162,746)
Beginning balance, value at Mar. 31, 2023	$ 7,000	$ 316,678			1,182,487	(2,761,761)	(1,255,596)
Beginning balance, shares at Mar. 31, 2023	7,000,000	316,678,929
Conversion of debt to common stock ($0.11/share) including inducement expense		$ 6,299			789,416		795,715
Conversion of debt to common stock ($0.11/share) including inducement expense , shares		6,298,703
Stock issued for services ($0.173/share)		$ 383			45,600		45,983
Stock issued for services, shares		383,334
Net loss						(583,447)	(583,447)
Ending balance, value at Jun. 30, 2023	$ 7,000	$ 323,360			2,017,503	(3,345,208)	(997,345)
Ending balance, shares at Jun. 30, 2023	7,000,000	323,360,966
Common stock issuable in connection with the extension of notes and convertible notes including inducement expense ($0.179/share)			$ 1,040		185,120		186,160
Common stock issuable in connection with the extension of notes and convertible notes including inducement expense ($0.179/share), shares			1,040,000
Stock repurchased and returnable in exchange for note payable ($0.001) - related party - net				$ (171,163)	48,290		(122,873)
Stock repurchased and returnable in exchange for note payable ($0.001) - related party - net, shares				(171,162,746)
Stock issued for services ($0.173/share)		$ 210			36,120		36,330
Stock issued for services, shares		210,000
Net loss						(447,466)	(447,466)
Ending balance, value at Sep. 30, 2023	$ 7,000	$ 323,570	$ 1,040	$ (171,163)	2,287,033	(3,792,674)	(1,345,194)
Ending balance, shares at Sep. 30, 2023	7,000,000	323,570,966	1,040,000	(171,162,746)
Beginning balance, value at Dec. 31, 2023	$ 7,000	$ 155,463			2,618,454	(4,242,482)	(1,461,565)
Beginning balance, shares at Dec. 31, 2023	7,000,000	155,464,808
Common stock issuable for services			$ 227,750				227,750
Common stock issuable for services, shares			1,475,000
Common stock issuable for conversion of debt including inducement expense			$ 520,000				520,000
Common stock issuable for conversion of debt including inducement expense, shares			2,080,000
Warrants issued for commitment fee					677,130		677,130
Net loss						(1,610,880)	(1,610,880)
Ending balance, value at Mar. 31, 2024	$ 7,000	$ 155,463	$ 747,750		3,295,584	(5,853,362)	(1,647,565)
Ending balance, shares at Mar. 31, 2024	7,000,000	155,464,808	3,555,000
Beginning balance, value at Dec. 31, 2023	$ 7,000	$ 155,463			2,618,454	(4,242,482)	(1,461,565)
Beginning balance, shares at Dec. 31, 2023	7,000,000	155,464,808
Net loss							(2,861,013)
Ending balance, value at Sep. 30, 2024	$ 7,000	$ 159,911	$ 40,000		4,567,510	(7,103,495)	(2,329,074)
Ending balance, shares at Sep. 30, 2024	7,000,000	159,912,808	100,000
Beginning balance, value at Mar. 31, 2024	$ 7,000	$ 155,463	$ 747,750		3,295,584	(5,853,362)	(1,647,565)
Beginning balance, shares at Mar. 31, 2024	7,000,000	155,464,808	3,555,000
Common stock issuable for services		$ 1,475	$ (227,750)		226,275
Common stock issuable for services, shares		1,475,000	(1,475,000)
Common stock issuable for conversion of debt including inducement expense		$ 2,080	$ (520,000)		517,920
Common stock issuable for conversion of debt including inducement expense, shares		2,080,000	(2,080,000)
Net loss						(364,191)	(364,191)
Ending balance, value at Jun. 30, 2024	$ 7,000	$ 159,018			4,039,779	(6,217,553)	(2,011,756)
Ending balance, shares at Jun. 30, 2024	7,000,000	159,019,808
Stock issued for services ($0.173/share)		$ 143			49,907		50,050
Stock issued for services, shares		143,000
Common stock issuable for services			$ 40,000				40,000
Common stock issuable for services, shares			100,000
Warrants issued for inducement expense					377,774		377,774
Net loss						(885,942)	(885,942)
Common stock issued for research and development expenses		750			100,050		100,800
Common stock issued for research and development expenses		750,000
Ending balance, value at Sep. 30, 2024	$ 7,000	$ 159,911	$ 40,000		$ 4,567,510	$ (7,103,495)	$ (2,329,074)
Ending balance, shares at Sep. 30, 2024	7,000,000	159,912,808	100,000

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash Flows from Operating Activities:
Net loss	$ (2,861,013)	$ (2,006,742)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock issued for services	277,800	258,713
Stock issued for research and development	100,800
Stock issuable for services	40,000
Stock warrants issued for finance expense	677,130
Stock issued for license fee		370,000
Amortization of debt discount	15,000	434,514
Inducement expense	897,774	289,017
Provision for obsolete inventory		46,981
Changes in operating assets and liabilities:
Inventory		(46,981)
Prepaid expenses	(29,384)	(4,133)
Accounts payable and accrued liabilities	357,910	79,066
Net Cash Used in Operating Activities	(523,983)	(579,565)
Cash Flows from Financing Activities:
Deferred offering cost	(60,000)
Proceeds from convertible notes payable - net	524,000	70,000
Repayment of convertible note and guaranteed interest	(55,000)
Cash advance from investor	50,000
Net Cash Provided by Financing Activities	459,000	70,000
Net change in cash	(64,983)	(509,565)
Cash, beginning of period	108,335	516,195
Cash, end of period	43,352	6,630
Supplemental cash flow information:
Cash paid for interest	5,000
Cash paid for taxes
Supplemental disclosure of non-cash financing activity
Original issuance debt and guaranteed interest as debt discount	15,000	30,000
Conversion of notes payable into common stock		692,858
Stock repurchased and returnable in exchange for note payable - related party - net		$ 122,873

Organization and Nature of Operations

9 Months Ended

Sep. 30, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Organization and Nature of Operations

Note 1–- Organization and Nature of Operations

Organization and Nature of Operations

The Company is currently seeking to develop products and services through the use of cutting-edge technologies in the health care industry.

Formation of Subsidiaries

Liquidity, Going Concern and Management’s Plans

As reflected in the accompanying financial statements, for the nine months ended September 30, 2024, the Company had:

Net loss of $2,861,013; and

Net cash used in operations was $523,983

Additionally, at September 30, 2024, the Company had:

Accumulated deficit of $7,103,495

Stockholders’ deficit of $2,329,074; and

Working capital deficit of $2,329,074

These factors create substantial doubt about the Company’s ability to continue as a going concern within the twelve-month period subsequent to the date that these financial statements are issued.

Management’s strategic plans include the following:

Execute business operations more fully during the year ended December 31, 2024,

Seek out strategic acquisitions of health care technology; and

Explore prospective partnership opportunities

Summary of Significant Accounting Policies

9 Months Ended

Sep. 30, 2024

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Note 2–- Summary of Significant Accounting Policies

Basis of Presentation

Principles of Consolidation

Use of Estimates

Fair Value of Financial Instruments

The three tiers are defined as follows:

Level 1–- Observable inputs that reflect quoted market prices (unadjusted) for identical assets or liabilities in active markets;

Level 2–- Observable inputs other than quoted prices in active markets that are observable either directly or indirectly in the marketplace for identical or similar assets and liabilities; and

Level 3–-Unobservable inputs that are supported by little or no market data, which require the Company to develop its own assumptions.

Cash and Cash Equivalents and Concentration of Credit Risk

At September 30, 2024 and December 31, 2023, respectively, the Company did not have any cash equivalents.

At September 30, 2024 and December 31, 2023, the Company’s cash balances exceeded FDIC insured limits by $0. The Company did not have any losses on cash in excess of the insured FDIC limit.

Revenue recognition

identify the contract with a customer;

identify the performance obligations in the contract;

determine the transaction price;

allocate the transaction price to performance obligations in the contract; and

recognize revenue as the performance obligation is satisfied.

Research and Development

The Company accounts for research and development costs in accordance with ASC subtopic 730-10, Research and Development (“ASC 730-10”).

The Company incurred research and development expenses of $286,591 and $428,708 for the nine months ended September 30, 2024 and 2023, respectively.

Advertising Costs

Advertising costs are expensed as incurred. Advertising costs are included as a component of general and administrative expense in the statements of operations.

The Company recognized $174,303 and $121,397 in marketing and advertising costs during the nine months ended September 30, 2024 and 2023, respectively.

Deferred Offering Costs

As at September 30, 2024 and December 31, 2023, deferred offering costs consisted of the following:

Schedule of deferred offering costs
	September 30,		December 31,
	2024		2023
General and administrative expenses	$	60,000	$	—
	$	60,000	$	—

Stock-Based Compensation

The Company uses the fair value method for equity instruments granted to non-employees and use the Black-Scholes model for measuring the fair value of options and common stock warrant.

When determining fair value, the Company considers the following assumptions in the Black-Scholes model:

Exercise price,

Expected dividends,

Expected volatility,

Risk-free interest rate; and

Expected life of option

Warrants

Basic and Diluted Earnings (Loss) per Share

At September 30, 2024 and December 31, 2023, respectively, the Company had the following common stock equivalents, which are potentially dilutive equity securities:


	September 30, 2024		December 31, 2023

Convertible Preferred Stock		700,000,000		700,000,000
Convertible notes		4,840,000		—
Common stock issuable		100,000		1,040,000
Warrant		5,145,943		—

Each share of preferred stock (7,000,000 shares) is convertible into 100 shares of common stock.

New Accounting Standard Adopted

This guidance was adopted on January 1, 2024. The adoption of ASU 2022-03 did not have a material impact on the Company's consolidated financial statements.

Recent Accounting Pronouncements

Notes Payable and Convertible Notes Payable

9 Months Ended

Sep. 30, 2024

Debt Disclosure [Abstract]

Notes Payable and Convertible Notes Payable

Note 3 – Notes Payable and Convertible Notes Payable

Notes Payable - Net

Notes payable are summarized as follows:

Schedule of notes payable
		Maturity	Interest		September 30,		December 31,
Issue Date		Date	Rate	Collateral	2024		2023
June 2012⁽¹⁾⁽³⁾		April 2025	8%	Unsecured	$	6,240	$	6,240
May 2014⁽¹⁾⁽³⁾		April 2025	8%	Unsecured		3,456		3,456
June 2016⁽¹⁾⁽³⁾		April 2025	8%	Unsecured		38,216		38,216
January 2017⁽¹⁾⁽³⁾		April 2025	8%	Unsecured		7,344		7,344
November 2020⁽¹⁾⁽³⁾		April 2025	12%	Unsecured		46,480		46,480
March 2021⁽¹⁾⁽³⁾		April 2025	8%	Unsecured		5,400		5,400
November 2021^(1),(2)		April 2025	0%	Unsecured		250,000		250,000
February 2022^(1),(2)		April 2025	0%	Unsecured		150,000		150,000
August 2023^(1),(2)		April 2025	8%	Unsecured		122,873		122,873
January 2023 ^{(1) (2)}		April 2025	0%	Unsecured		100,000		100,000
October 2022 ^{(1) (2)}		April 2025	0%	Unsecured		440,000		440,000
November 2022 ^{(1) (2)}		April 2025	0%	Unsecured		100,000		100,000
				Notes payable	$	1,270,009	$	1,270,009
(1)	In November 2023, the convertible notes were amended to remove the conversion features and the Company reclassified $640,000 from convertible notes to notes payable
(2)	In October 2024, the Company entered into agreements with 6 noteholders, extending the maturity on their notes to April 1, 2025. In consideration thereof, each noteholder will, upon a successful uplisting to a senior exchange, be repaid their original purchase price and the OID discount and any accrued interest will be converted to common stock at a price of $0.10/share.
(3)	In October 2024, the Company entered into agreements with 6 noteholders, extending the maturity on their notes to April 1, 2025. In consideration thereof, each noteholder will, upon a successful uplisting to a senior exchange, be repaid 50% of their original principal and the balance of the any accrued interest will be converted to common stock at a price of $0.10/share.

Convertible Notes Payable - Net

The Company had the following activity related to its convertible notes payable:


Balance - December 31, 2023	$	100,000
Proceeds (face amount of note)		534,000
Guaranteed interest recorded to convertible note payable		5,000
Original issue debt discount		(10,000	)
Guaranteed interest – debt discount		(5,000	)
Repayments including guaranteed interest		(55,000	)
Amortization of debt discount		15,000
Balance - September 30, 2024	$	584,000

Convertible Notes Payable are summarized as follows:

Schedule of convertible notes payable
				September 30,		December 31,
Issue Date	Maturity Date	Interest Rate	Collateral	2024		2023
October 2023⁽¹⁾	April, 2025	8%	Unsecured	$	100,000		100,000
March 2024	March 2025	8%	Unsecured		150,000		-
March 2024	March 2025	8%	Unsecured		50,000		-
March 2024	March 2025	8%	Unsecured		50,000		-
April 2024	April 2025	8%	Unsecured		10,000		-
April 2024	April 2025	8%	Unsecured		20,000		-
May 2024	May 2025	8%	Unsecured		10,000		-
May 2024	May 2025	8%	Unsecured		100,000		-
July 2024	July 2025	8%	Unsecured		5,000		-
July 2024	July 2025	8%	Unsecured		15,000		-
July 2024	July 2025	8%	Unsecured		10,000		-
July 2024	July 2025	8%	Unsecured		4,000		-
July 2024	July 2025	8%	Unsecured		50,000		-
August 2024	August 2025	8%	Unsecured		10,000		-
				$	584,000	$	100,000
			Convertible notes payable		584,000	$	100,000

Notes Issued in 2024

Inducements

Interest expense

During the nine months ended September 30, 2024 and 2023, the Company recorded interest expense for notes payable and convertible notes of $38,612 and $9,175, respectively.

Commitments and Contingencies

9 Months Ended

Sep. 30, 2024

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Note 4 – Commitments and Contingencies

Schedule of monthly payment
Funds Raised	Paid Monthly	Accrued Monthly
$0 – $250,000	$3,750	$5,000
$250,000 – $750,000	$5,000	$3,750

Upon the Company’s raising of $750,000, it shall pay the accrued amount in cash. Thereafter, the Company

shall pay the entire monthly payment without accrual.

Schedule of monthly payment
Funds Raised	Paid Monthly	Accrued Monthly
$0 – $250,000	$3,750	$5,000
$250,000 – $750,000	$5,000	$3,750

Upon the Company’s raising of $750,000, it shall pay the accrued amount in cash. Thereafter, the Company shall pay the entire monthly payment without accrual.

Schedule of monthly payment
Funds Raised	Paid Monthly	Accrued Monthly
$0 – $250,000	$3,750	$5,000
$250,000 – $750,000	$5,000	$3,750

Upon the Company’s raising of $750,000, it shall pay the accrued amount in cash. Thereafter, the Company shall pay the entire monthly payment without accrual.

Stockholders’ Deficit

9 Months Ended

Sep. 30, 2024

Equity [Abstract]

Stockholders’ Deficit

Note 5 – Stockholders’ Deficit

The Company has two (2) classes of stock:

Common Stock

1,250,000,000 shares authorized

$0.001 par value

Voting at 1 vote per share

Preferred Stock

The Board of Directors has made the following designations of its preferred stock.

Series A, Convertible Preferred Stock

7,000,000 shares authorized.

$0.001 par value.

Conversion feature–-each share of preferred stock is convertible into 100 shares of common stock.

Voting–-on an as converted basis with common stock, at the applicable conversion rate (100 votes for each share of convertible preferred held).

Dividends–-accrued only upon declaration of the board of directors, at the applicable conversion rate.

Mandatorily redeemable (automatic conversion) on January 1, 2025. (See below amendment)

At September 30, 2024 and December 31, 2023, the Company had 7,000,000 shares issued and outstanding. See below for related issuances.

Equity Transactions for fiscal year 2024

During the nine months ended September 30, 2024, the Company issued 4,448,000 shares of common stock as follows:

143,000 shares of common stock for marketing and advertising service valued at $50,050.

750,000 shares of common stock for research and development activities valued at $0.13 per share, the closing price on the date of issue as quoted on OTCMarkets.com, for a total of $100,800.

During the nine months ended September 30, 2024, the Company recorded 100,000 shares of common stock issuable for marketing and advertising service valued at $40,000.

Securities Purchase Agreement

The Company agreed with the Investor that it will not enter into any other equity line or similar agreements without the prior consent of the Investor.

The Company has not sold any shares to the Investor as of September 30, 2024.

Equity Incentive Plan

Warrants

9 Months Ended

Sep. 30, 2024

Warrants

Warrants

Note 6 – Warrants

A summary of activity of the warrants during the nine months ended September 30, 2024, is follows:

Schedule of activity of the warrants
	Number of		Weighted average	Weighted average
	Warrant		Exercise price	Remaining life (year)
Outstanding at December 31, 2023	-	$	-	-
Grant	5,145,943		0.25	3.52
Exercised	-		-	-
Cancelled	-		-	-
Outstanding at September 30, 2024	5,145,943	$	0.25	3.10

Exercisable at September 30, 2024	5,145,943	$	0.25	3.10

The intrinsic value of the warrants as of September 30, 2024, is $0. All of the outstanding warrants are exercisable as of September 30, 2024.

Valuation

The Company utilizes the Black-Scholes model to value its warrants. The Company utilized the following assumptions:

Schedule of valuation assumptions
	Nine months ended
	September 30, 2024
Expected term		2 - 5 years
Expected average volatility		241 - 338	%
Expected dividend yield		—
Risk-free interest rate		4.13 - 4.43	%

Subsequent Events

9 Months Ended

Sep. 30, 2024

Subsequent Events [Abstract]

Subsequent Events

Note 7 – Subsequent Events

Summary of Significant Accounting Policies (Policies)

9 Months Ended

Sep. 30, 2024

Accounting Policies [Abstract]

Basis of Presentation

Basis of Presentation

Principles of Consolidation

Principles of Consolidation

Use of Estimates

Use of Estimates

Fair Value of Financial Instruments

Fair Value of Financial Instruments

The three tiers are defined as follows:

Level 1–- Observable inputs that reflect quoted market prices (unadjusted) for identical assets or liabilities in active markets;

Level 2–- Observable inputs other than quoted prices in active markets that are observable either directly or indirectly in the marketplace for identical or similar assets and liabilities; and

Level 3–-Unobservable inputs that are supported by little or no market data, which require the Company to develop its own assumptions.

Cash and Cash Equivalents and Concentration of Credit Risk

Cash and Cash Equivalents and Concentration of Credit Risk

At September 30, 2024 and December 31, 2023, respectively, the Company did not have any cash equivalents.

At September 30, 2024 and December 31, 2023, the Company’s cash balances exceeded FDIC insured limits by $0. The Company did not have any losses on cash in excess of the insured FDIC limit.

Revenue recognition

Revenue recognition

identify the contract with a customer;

identify the performance obligations in the contract;

determine the transaction price;

allocate the transaction price to performance obligations in the contract; and

recognize revenue as the performance obligation is satisfied.

Research and Development

Research and Development

The Company accounts for research and development costs in accordance with ASC subtopic 730-10, Research and Development (“ASC 730-10”).

The Company incurred research and development expenses of $286,591 and $428,708 for the nine months ended September 30, 2024 and 2023, respectively.

Advertising Costs

Advertising Costs

Advertising costs are expensed as incurred. Advertising costs are included as a component of general and administrative expense in the statements of operations.

The Company recognized $174,303 and $121,397 in marketing and advertising costs during the nine months ended September 30, 2024 and 2023, respectively.

Deferred Offering Costs

Deferred Offering Costs

As at September 30, 2024 and December 31, 2023, deferred offering costs consisted of the following:

Schedule of deferred offering costs
	September 30,		December 31,
	2024		2023
General and administrative expenses	$	60,000	$	—
	$	60,000	$	—

Stock-Based Compensation

Stock-Based Compensation

The Company uses the fair value method for equity instruments granted to non-employees and use the Black-Scholes model for measuring the fair value of options and common stock warrant.

When determining fair value, the Company considers the following assumptions in the Black-Scholes model:

Exercise price,

Expected dividends,

Expected volatility,

Risk-free interest rate; and

Expected life of option

Warrants

Warrants

Basic and Diluted Earnings (Loss) per Share

Basic and Diluted Earnings (Loss) per Share

At September 30, 2024 and December 31, 2023, respectively, the Company had the following common stock equivalents, which are potentially dilutive equity securities:


	September 30, 2024		December 31, 2023

Convertible Preferred Stock		700,000,000		700,000,000
Convertible notes		4,840,000		—
Common stock issuable		100,000		1,040,000
Warrant		5,145,943		—

Each share of preferred stock (7,000,000 shares) is convertible into 100 shares of common stock.

New Accounting Standard Adopted

New Accounting Standard Adopted

This guidance was adopted on January 1, 2024. The adoption of ASU 2022-03 did not have a material impact on the Company's consolidated financial statements.

Recent Accounting Pronouncements

Recent Accounting Pronouncements

Summary of Significant Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2024

Accounting Policies [Abstract]

Schedule of deferred offering costs

Schedule of deferred offering costs
	September 30,		December 31,
	2024		2023
General and administrative expenses	$	60,000	$	—
	$	60,000	$	—

Schedule of potentially dilutive equity securities


	September 30, 2024		December 31, 2023

Convertible Preferred Stock		700,000,000		700,000,000
Convertible notes		4,840,000		—
Common stock issuable		100,000		1,040,000
Warrant		5,145,943		—

Notes Payable and Convertible Notes Payable (Tables)

9 Months Ended

Sep. 30, 2024

Debt Disclosure [Abstract]

Schedule of notes payable

Schedule of notes payable
		Maturity	Interest		September 30,		December 31,
Issue Date		Date	Rate	Collateral	2024		2023
June 2012⁽¹⁾⁽³⁾		April 2025	8%	Unsecured	$	6,240	$	6,240
May 2014⁽¹⁾⁽³⁾		April 2025	8%	Unsecured		3,456		3,456
June 2016⁽¹⁾⁽³⁾		April 2025	8%	Unsecured		38,216		38,216
January 2017⁽¹⁾⁽³⁾		April 2025	8%	Unsecured		7,344		7,344
November 2020⁽¹⁾⁽³⁾		April 2025	12%	Unsecured		46,480		46,480
March 2021⁽¹⁾⁽³⁾		April 2025	8%	Unsecured		5,400		5,400
November 2021^(1),(2)		April 2025	0%	Unsecured		250,000		250,000
February 2022^(1),(2)		April 2025	0%	Unsecured		150,000		150,000
August 2023^(1),(2)		April 2025	8%	Unsecured		122,873		122,873
January 2023 ^{(1) (2)}		April 2025	0%	Unsecured		100,000		100,000
October 2022 ^{(1) (2)}		April 2025	0%	Unsecured		440,000		440,000
November 2022 ^{(1) (2)}		April 2025	0%	Unsecured		100,000		100,000
				Notes payable	$	1,270,009	$	1,270,009
(1)	In November 2023, the convertible notes were amended to remove the conversion features and the Company reclassified $640,000 from convertible notes to notes payable
(2)	In October 2024, the Company entered into agreements with 6 noteholders, extending the maturity on their notes to April 1, 2025. In consideration thereof, each noteholder will, upon a successful uplisting to a senior exchange, be repaid their original purchase price and the OID discount and any accrued interest will be converted to common stock at a price of $0.10/share.
(3)	In October 2024, the Company entered into agreements with 6 noteholders, extending the maturity on their notes to April 1, 2025. In consideration thereof, each noteholder will, upon a successful uplisting to a senior exchange, be repaid 50% of their original principal and the balance of the any accrued interest will be converted to common stock at a price of $0.10/share.

Schedule of activity related to convertible notes payable


Balance - December 31, 2023	$	100,000
Proceeds (face amount of note)		534,000
Guaranteed interest recorded to convertible note payable		5,000
Original issue debt discount		(10,000	)
Guaranteed interest – debt discount		(5,000	)
Repayments including guaranteed interest		(55,000	)
Amortization of debt discount		15,000
Balance - September 30, 2024	$	584,000

Schedule of convertible notes payable

Schedule of convertible notes payable
				September 30,		December 31,
Issue Date	Maturity Date	Interest Rate	Collateral	2024		2023
October 2023⁽¹⁾	April, 2025	8%	Unsecured	$	100,000		100,000
March 2024	March 2025	8%	Unsecured		150,000		-
March 2024	March 2025	8%	Unsecured		50,000		-
March 2024	March 2025	8%	Unsecured		50,000		-
April 2024	April 2025	8%	Unsecured		10,000		-
April 2024	April 2025	8%	Unsecured		20,000		-
May 2024	May 2025	8%	Unsecured		10,000		-
May 2024	May 2025	8%	Unsecured		100,000		-
July 2024	July 2025	8%	Unsecured		5,000		-
July 2024	July 2025	8%	Unsecured		15,000		-
July 2024	July 2025	8%	Unsecured		10,000		-
July 2024	July 2025	8%	Unsecured		4,000		-
July 2024	July 2025	8%	Unsecured		50,000		-
August 2024	August 2025	8%	Unsecured		10,000		-
				$	584,000	$	100,000
			Convertible notes payable		584,000	$	100,000

Commitments and Contingencies (Tables)

9 Months Ended

Sep. 30, 2024

CFO Agreement [Member]

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Schedule of monthly payment

Schedule of monthly payment
Funds Raised	Paid Monthly	Accrued Monthly
$0 – $250,000	$3,750	$5,000
$250,000 – $750,000	$5,000	$3,750

COO Agreement [Member]

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Schedule of monthly payment

Schedule of monthly payment
Funds Raised	Paid Monthly	Accrued Monthly
$0 – $250,000	$3,750	$5,000
$250,000 – $750,000	$5,000	$3,750

Chief Science Officer Agreement [Member]

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Schedule of monthly payment

Schedule of monthly payment
Funds Raised	Paid Monthly	Accrued Monthly
$0 – $250,000	$3,750	$5,000
$250,000 – $750,000	$5,000	$3,750

Warrants (Tables)

9 Months Ended

Sep. 30, 2024

Warrants

Schedule of activity of the warrants

Schedule of activity of the warrants
	Number of		Weighted average	Weighted average
	Warrant		Exercise price	Remaining life (year)
Outstanding at December 31, 2023	-	$	-	-
Grant	5,145,943		0.25	3.52
Exercised	-		-	-
Cancelled	-		-	-
Outstanding at September 30, 2024	5,145,943	$	0.25	3.10

Exercisable at September 30, 2024	5,145,943	$	0.25	3.10

Schedule of valuation assumptions

Schedule of valuation assumptions
	Nine months ended
	September 30, 2024
Expected term		2 - 5 years
Expected average volatility		241 - 338	%
Expected dividend yield		—
Risk-free interest rate		4.13 - 4.43	%

Organization and Nature of Operations (Details Narrative) - USD ($)	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Net loss	$ 2,861,013
Net cash used in operations	523,983	$ 579,565
Accumulated deficit	7,103,495
Stockholders' deficit	2,329,074
Working capital deficit	2,329,074
Cash Equivalents, at Carrying Value	$ 43,352

Summary of Significant Accounting Policies (Details) - USD ($)	Sep. 30, 2024	Dec. 31, 2023
Deferred offering costs	$ 60,000
General and Administrative Expense [Member]
Deferred offering costs	$ 60,000

Summary of Significant Accounting Policies (Details 1) - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Accounting Policies [Abstract]
Convertible Preferred Stock	$ 700,000,000	$ 700,000,000
Convertible notes	4,840,000
Common stock issuable	$ 100,000	$ 1,040,000
Warrant	5,145,943

Summary of Significant Accounting Policies (Details Narrative) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Accounting Policies [Abstract]
Research and development expenses	$ 172,047	$ 34,498	$ 286,591	$ 428,708
Marketing and advertising costs			$ 174,303	$ 121,397

Notes Payable and Convertible Notes Payable (Details) - USD ($)	9 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Short-Term Debt [Line Items]
Notes payable	$ 1,270,009	$ 1,270,009
Note Payable One [Member]
Short-Term Debt [Line Items]
Debt Instrument, Issuer	June 2012
Maturity date	April 2025
Interest rate	8.00%
Collateral Description	Unsecured
Notes payable	$ 6,240	6,240
Note Payable Two [Member]
Short-Term Debt [Line Items]
Debt Instrument, Issuer	May 2014
Maturity date	April 2025
Interest rate	8.00%
Collateral Description	Unsecured
Notes payable	$ 3,456	3,456
Note Payable Three [Member]
Short-Term Debt [Line Items]
Debt Instrument, Issuer	June 2016
Maturity date	April 2025
Interest rate	8.00%
Collateral Description	Unsecured
Notes payable	$ 38,216	38,216
Note Payable Four [Member]
Short-Term Debt [Line Items]
Debt Instrument, Issuer	January 2017
Maturity date	April 2025
Interest rate	8.00%
Collateral Description	Unsecured
Notes payable	$ 7,344	7,344
Note Payable Five [Member]
Short-Term Debt [Line Items]
Debt Instrument, Issuer	November 2020
Maturity date	April 2025
Interest rate	12.00%
Collateral Description	Unsecured
Notes payable	$ 46,480	46,480
Note Payable Six [Member]
Short-Term Debt [Line Items]
Debt Instrument, Issuer	March 2021
Maturity date	April 2025
Interest rate	8.00%
Collateral Description	Unsecured
Notes payable	$ 5,400	5,400
Note Payable Seven [Member]
Short-Term Debt [Line Items]
Debt Instrument, Issuer	November 2021
Maturity date	April 2025
Interest rate	0.00%
Collateral Description	Unsecured
Notes payable	$ 250,000	250,000
Note Payable Eight [Member]
Short-Term Debt [Line Items]
Debt Instrument, Issuer	February 2022
Maturity date	April 2025
Interest rate	0.00%
Collateral Description	Unsecured
Notes payable	$ 150,000	150,000
Note Payable Nine [Member]
Short-Term Debt [Line Items]
Debt Instrument, Issuer	August 2023
Maturity date	April 2025
Interest rate	8.00%
Collateral Description	Unsecured
Notes payable	$ 122,873	122,873
Note Payable Ten [Member]
Short-Term Debt [Line Items]
Debt Instrument, Issuer	January 2023
Maturity date	April 2025
Interest rate	0.00%
Collateral Description	Unsecured
Notes payable	$ 100,000	100,000
Note Payable Eleven [Member]
Short-Term Debt [Line Items]
Debt Instrument, Issuer	October 2022
Maturity date	April 2025
Interest rate	0.00%
Collateral Description	Unsecured
Notes payable	$ 440,000	440,000
Note Payable Twelve [Member]
Short-Term Debt [Line Items]
Debt Instrument, Issuer	November 2022
Maturity date	April 2025
Interest rate	0.00%
Collateral Description	Unsecured
Notes payable	$ 100,000	$ 100,000

Notes Payable and Convertible Notes Payable (Details 1)	9 Months Ended
Notes Payable and Convertible Notes Payable (Details 1)	Sep. 30, 2024 USD ($)
Debt Disclosure [Abstract]
Balance - December 31, 2023	$ 100,000
Proceeds (face amount of note)	534,000
Guaranteed interest recorded to convertible note payable	5,000
Original issue debt discount	(10,000)
Guaranteed interest - debt discount	(5,000)
Repayments including guaranteed interest	(55,000)
Amortization of debt discount	15,000
Balance - September 30, 2024	$ 584,000

Notes Payable and Convertible Notes Payable (Details 2) - USD ($)	9 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Short-Term Debt [Line Items]
Convertible notes payable	$ 584,000	$ 100,000
Convertible notes payable - net	$ 584,000	100,000
Convertible Notes Payable One [Member]
Short-Term Debt [Line Items]
Issue date	October 2023(1)
Maturity date	April, 2025
Interest rate	8.00%
Collateral description	Unsecured
Convertible notes payable	$ 100,000	100,000
Convertible Notes Payable Two [Member]
Short-Term Debt [Line Items]
Issue date	March 2024
Maturity date	March 2025
Interest rate	8.00%
Collateral description	Unsecured
Convertible notes payable	$ 150,000
Convertible Notes Payable Three [Member]
Short-Term Debt [Line Items]
Issue date	March 2024
Maturity date	March 2025
Interest rate	8.00%
Collateral description	Unsecured
Convertible notes payable	$ 50,000
Convertible Notes Payable Four [Member]
Short-Term Debt [Line Items]
Issue date	March 2024
Interest rate	8.00%
Collateral description	Unsecured
Convertible notes payable	$ 50,000
Convertible Notes Payable Five [Member]
Short-Term Debt [Line Items]
Issue date	April 2024
Maturity date	April 2025
Interest rate	8.00%
Collateral description	Unsecured
Convertible notes payable	$ 10,000
Convertible Notes Payable Six [Member]
Short-Term Debt [Line Items]
Issue date	April 2024
Maturity date	April 2025
Interest rate	8.00%
Collateral description	Unsecured
Convertible notes payable	$ 20,000
Convertible Notes Payable Seven [Member]
Short-Term Debt [Line Items]
Issue date	May 2024
Maturity date	May 2025
Interest rate	8.00%
Collateral description	Unsecured
Convertible notes payable	$ 10,000
Convertible Notes Payable Eight [Member]
Short-Term Debt [Line Items]
Issue date	May 2024
Maturity date	May 2025
Interest rate	8.00%
Collateral description	Unsecured
Convertible notes payable	$ 100,000
Convertible Notes Payable Nine [Member]
Short-Term Debt [Line Items]
Issue date	July 2024
Maturity date	July 2025
Interest rate	8.00%
Collateral description	Unsecured
Convertible notes payable	$ 5,000
Convertible Notes Payable Ten [Member]
Short-Term Debt [Line Items]
Issue date	July 2024
Maturity date	July 2025
Interest rate	8.00%
Collateral description	Unsecured
Convertible notes payable	$ 15,000
Convertible Notes Payable Eleven [Member]
Short-Term Debt [Line Items]
Issue date	July 2024
Maturity date	July 2025
Interest rate	8.00%
Collateral description	Unsecured
Convertible notes payable	$ 10,000
Convertible Notes Payable Twelve [Member]
Short-Term Debt [Line Items]
Issue date	July 2024
Maturity date	July 2025
Interest rate	8.00%
Collateral description	Unsecured
Convertible notes payable	$ 4,000
Convertible Notes Payable Thirteen [Member]
Short-Term Debt [Line Items]
Issue date	July 2024
Maturity date	July 2025
Interest rate	8.00%
Collateral description	Unsecured
Convertible notes payable	$ 50,000
Convertible Notes Payable Fourteen [Member]
Short-Term Debt [Line Items]
Issue date	August 2024
Maturity date	August 2025
Interest rate	8.00%
Collateral description	Unsecured
Convertible notes payable	$ 10,000

Notes Payable and Convertible Notes Payable (Details Narrative) - USD ($)	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Jul. 31, 2024	Feb. 29, 2024	Dec. 31, 2023
Debt Disclosure [Abstract]
Issued warrants			2,541,276	2,604,667
Exercise price	$ 0.25		$ 0.30
Warrant value	$ 5,145,943		$ 377,774	$ 677,130
interest expense for notes payable and convertible notes	$ 38,612	$ 9,175

Commitments and Contingencies (Details)	9 Months Ended
Commitments and Contingencies (Details)	Sep. 30, 2024 USD ($)
Loss Contingencies [Line Items]
Second monthly payment	$ 5,000
CFO Agreement [Member]
Loss Contingencies [Line Items]
Monthly payment	3,750
Accrued monthly	5,000
Second accrued monthly	3,750
Minimum [Member] \| CFO Agreement [Member]
Loss Contingencies [Line Items]
Fund raised	0
Fund raised second range	250,000
Maximum [Member] \| CFO Agreement [Member]
Loss Contingencies [Line Items]
Fund raised	250,000
Fund raised second range	$ 750,000

Commitments and Contingencies (Details 1)	9 Months Ended
Commitments and Contingencies (Details 1)	Sep. 30, 2024 USD ($)
Loss Contingencies [Line Items]
Second monthly payment	$ 5,000
COO Agreement [Member] \| Reyes [Member]
Loss Contingencies [Line Items]
Monthly payment	3,750
Accrued monthly	5,000
Second accrued monthly	3,750
Minimum [Member] \| COO Agreement [Member] \| Reyes [Member]
Loss Contingencies [Line Items]
Fund raised	0
Fund raised second range	250,000
Maximum [Member] \| COO Agreement [Member] \| Reyes [Member]
Loss Contingencies [Line Items]
Fund raised	250,000
Fund raised second range	$ 750,000

Commitments and Contingencies (Details 2)	9 Months Ended
Commitments and Contingencies (Details 2)	Sep. 30, 2024 USD ($)
Loss Contingencies [Line Items]
Second monthly payment	$ 5,000
Chief Science Officer Agreement [Member] \| Hausman [Member]
Loss Contingencies [Line Items]
Monthly payment	3,750
Accrued monthly	5,000
Second accrued monthly	3,750
Minimum [Member] \| Chief Science Officer Agreement [Member] \| Hausman [Member]
Loss Contingencies [Line Items]
Fund raised	0
Fund raised second range	250,000
Maximum [Member] \| Chief Science Officer Agreement [Member] \| Hausman [Member]
Loss Contingencies [Line Items]
Fund raised	250,000
Fund raised second range	$ 750,000

Commitments and Contingencies (Details Narrative) - USD ($)	1 Months Ended	7 Months Ended	9 Months Ended	26 Months Ended
	Aug. 31, 2024	Apr. 02, 2024	Sep. 30, 2024	Sep. 05, 2024
Loss Contingencies [Line Items]
Issuance of common shares	750,000
Fair market value	$ 100,800
Forgiveness of consulting fees	$ 245,712
Royalty percentage	5.00%
Royalty payable percentage	2.50%
CFO Agreement [Member]
Loss Contingencies [Line Items]
Monthly payment			$ 8,750
CFO Agreement [Member] \| Maximum [Member]
Loss Contingencies [Line Items]
Fund raised second range			750,000
Financial Advisory Services Agreement [Member]
Loss Contingencies [Line Items]
Accrued amount in cash			750,000
COO Agreement [Member] \| Reyes [Member]
Loss Contingencies [Line Items]
Monthly payment			8,750
COO Agreement [Member] \| Maximum [Member] \| Reyes [Member]
Loss Contingencies [Line Items]
Fund raised second range			750,000
Chief Science Officer Agreement [Member] \| Hausman [Member]
Loss Contingencies [Line Items]
Monthly payment		$ 5,000	8,750
Chief Science Officer Agreement [Member] \| Maximum [Member] \| Hausman [Member]
Loss Contingencies [Line Items]
Fund raised second range			$ 750,000
Consulting Agreement [Member] \| Hausman [Member]
Loss Contingencies [Line Items]
Monthly payment				$ 5,000

Stockholders’ Deficit (Details Narrative) - USD ($)		1 Months Ended	3 Months Ended	9 Months Ended
Stockholders’ Deficit (Details Narrative) - USD ($)	Feb. 12, 2024	Aug. 31, 2024	Mar. 31, 2023	Sep. 30, 2024	Jul. 31, 2024	Feb. 29, 2024	Dec. 31, 2023	Dec. 31, 2022	May 31, 2022
Class of Stock [Line Items]
Common stock, shares authorized				1,250,000,000			1,250,000,000
Common stock, par value				$ 0.001			$ 0.001
Common stock voting per share				1
Preferred stock, shares issued				7,000,000			7,000,000	7,000,000	7,000,000
Preferred stock, shares authorized				7,000,000			7,000,000
Preferred stock, par value				$ 0.001			$ 0.001
Shares of common stock issuable for marketing and advertising service				100,000
Issued shares of common stock value			$ 370,000
Issued shares of common stock for marketing and advertising service				143,000
Issued shares of common stock for marketing and advertising service, value				$ 50,050
Issued shares of common stock for research and development activities				750,000
Issued shares of common stock for research and development activities, per share				$ 0.13
Issued shares of common stock for research and development activities, value				$ 100,800
Shares of common stock issuable for marketing and advertising service				40,000
Warrant shares					2,541,276	2,604,667
Equity Incentive Plan [Member]
Class of Stock [Line Items]
Number of common shares		30,000,000
Promissory Notes [Member]
Class of Stock [Line Items]
Issued shares of common stock				2,080,000
Share price				$ 0.25
Issued shares of common stock value				$ 520,000
Common Stock [Member]
Class of Stock [Line Items]
Shares of common stock issuable for marketing and advertising service				4,448,000
Issued shares of common stock			1,000,000
Issued shares of common stock value			$ 1,000
Common Stock [Member] \| Purchase Agreement [Member] \| Investor [Member]
Class of Stock [Line Items]
Issued shares of common stock	5,000,000
Warrant term	5 years
Warrant shares	2,604,667
Common Stock [Member] \| Three Individuals [Member]
Class of Stock [Line Items]
Issued shares of common stock				225,000
Share price				$ 0.29
Issued shares of common stock value				$ 65,250
Common Stock [Member] \| Three Individuals [Member] \| Consulting Agreement [Member]
Class of Stock [Line Items]
Issued shares of common stock				250,000
Common Stock [Member] \| Three Individuals [Member] \| Performance Bonus [Member]
Class of Stock [Line Items]
Issued shares of common stock				1,000,000
Common Stock [Member] \| Individuals [Member]
Class of Stock [Line Items]
Issued shares of common stock				1,250,000
Share price				$ 0.13
Issued shares of common stock value				$ 162,500
Series A Convertible Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, shares issued				7,000,000			7,000,000
Preferred stock, shares authorized				7,000,000
Preferred stock, par value				$ 0.001
Preferred stock voting rights				100 votes for each share

Warrants (Details) - USD ($)	9 Months Ended	12 Months Ended
Warrants (Details) - USD ($)	Sep. 30, 2024	Dec. 31, 2023
Warrants
Number of Warrant Outstanding at Beginning
Weighted average Exercise price Outstanding at Beginning
Number of Warrant Grant	5,145,943
Weighted average Exercise price Grant	$ 0.25
Weighted average Remaining life Grant	3 years 6 months 7 days
Number of Warrant Outstanding at Ending	$ 5,145,943
Weighted average Exercise price Outstanding at Ending	$ 0.25
Weighted average Remaining life Outstanding at Ending	3 years 1 month 6 days
Number of Warrant Exercisable	5,145,943
Weighted average Exercise price, Exercisable	$ 0.25
Weighted average Remaining life, Exercisable	3 years 1 month 6 days

Warrants (Details 1)	9 Months Ended
Warrants (Details 1)	Sep. 30, 2024
Expected average volatility, minimum	241.00%
Expected average volatility, maximum	338.00%
Expected dividend yield	0.00%
Risk-free interest rate, minimum	4.13%
Risk-free interest rate, maximum	4.43%
Minimum [Member]
Expected term	2 years
Maximum [Member]
Expected term	5 years

Warrants (Details Narrative) - USD ($)	1 Months Ended
Warrants (Details Narrative) - USD ($)	Feb. 29, 2024	Sep. 30, 2024	Jul. 31, 2024	Dec. 31, 2023
Warrants
Issued warrants	2,604,667		2,541,276
Warrant value	$ 677,130	$ 5,145,943	$ 377,774
Exercise price per warrant value	$ 30,000,000
Exercise price		$ 0.25	$ 0.30
Intrinsic value of warrants		$ 0

Ludwig Enterprises (PK) (USOTC:LUDG)
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Ludwig Enterprises (PK) (USOTC:LUDG)
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