Company: HYEX
Filing Date: 2025-04-22
Form Type: 10-K/A
Source: 0001096906-25-000553
Chunk: 77

Company: HEALTHY EXTRACTS INC.
Filing Date: 2025-04-22
Form: 10-K/A
Chunk 77
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 12, 2022     |     | May 1, 2023      |     | 12%      |     |   200,000 |     |      200,000 |     |      200,000 |
| Convertible promissory note #4             |     | January 24, 2023 |     | April 24, 2024   |     | 0%       |     |   388,888 |     |      324,111 |     |      401,851 |
| Total notes payable                        |     |                  |     |                  |     |          |     |  $757,888 |     |     $530,861 |     |     $608,601 |
| Debt discount and deferred financing costs |     |                  |     |                  |     |          |     |         - |     |            - |     |            - |
| Total notes payable, net                   |     |                  |     |                  |     |          |     |  $757,888 |     |     $530,861 |     |     $608,601 |

Convertible promissory note #1:

On July 28, 2016, the Company executed the convertible promissory note #1 in the principal amount of $15,000, which is in default but management has not been able to make contact with this party, due to them living out of the country. The due date for this note was January 19, 2017 at an interest rate of 8%, with a default interest rate of 18%. We have calculated the derivative liability as if it is in default (but the note’s default interest rate stays the same at 8%) and will still accrue appropriate interest until the note is fully satisfied or converted into the Company’s common stock. The conversion option for this note coverts at a 54% discount to the market price based on the lowest trading prices in the last 20 days trading period. The outstanding balance on convertible promissory note #1 as of December 31, 2024 was $6,750.

The fair value of the derivative as of December 31, 2024 was determined to be $37,009 using the Black-Scholes option pricing model based on the following assumptions: common share price of $2.5099 per share; expected exercise price of $1.406 per share; volatility of 235%; expected dividend yield of zero; and annual risk