Note 15 – Subsequent Events

Conversions of Series N and Series O Preferred Stock

Subsequent to June 30, 2022 and through August 8, 2022, the Company issued an aggregate of 5.5 billion shares of its common stock upon conversions of 263.61 shares of its Series N Preferred Stock with a stated value of $263,610 and 227.25 shares of its Series O Preferred Stock with a stated value of $227,250.

Potential Common Stock as of August 8, 2022

The following table presents the dilutive effect of our various potential shares of common stock as of August 8, 2022:

 Schedule of Dilutive Effect of Various Potential Common Shares

As a result of the Voting Agreement discussed in Note 10 and the November 5, 2021 Amendment to its Certificate of Incorporation, as amended, providing for the affirmative vote of the holders of a majority in voting power of the stock of the Company to authorize an increase in the number of authorized shares of the Company’s common stock, as more fully discussed in Note 1, the Company believes that it has the practical ability to ensure that it has a sufficient number of authorized shares of its common stock to accommodate all potentially dilutive instruments.

InnovaQor Loan Restructuring

As of July 1, 2022, the Company had an outstanding receivable from InnovaQor of $803,416. InnovaQor signed a promissory note, dated July 1, 2022, in favor of the Company that provides that InnovaQor will repay the Company $883,757 on December 31, 2022. That amount represents a 10% original issue discount above the loan amount outstanding on July 1, 2022. The Note, in the event of default, bears interest at 18% per annum.

O’Killough Note Payable and Loan From Mr. Diamantis

On July 18, 2022, Mr. Diamantis loaned the Company $150,000, which was used to repay a portion of Mr. O’Killough’s note payable with the Company, of which Mr. Diamantis is a guarantor. Subsequent to June 30, 2022 and through August 8, 2022, the Company repaid Mr. Diamantis the $150,000. The terms of Mr. O’Killough’s note payable and Mr. Diamantis’ loan to the Company are more fully discussed in Note 6.