14. SHAREHOLDER ADVANCES

During the three months ended March 31, 2023, the Company raised $230,000 in the form of shareholder advances from two different investors to support operations in advance of the Company’s prospective Uplisting Transaction. During April 2023 and May 2023, the Company raised an additional $308,000 in shareholder advances from a single investor resulting in the Company raising a total of $538,000 in the form of shareholder advances, $488,000 of which was contributed by a single investor, who was subsequently issued an Unsecured convertible note (the “Third Note”) in connection with the Third Closing of the 2022 Convertible Note Offering (see Note 15). Finally, on May 18, 2023, the Company received an additional advance from a third party of $350,000, which is expected to be rolled into an anticipated near-term capital raise not related to the prior 2022 Convertible Note Offering. The remaining $50,000 raised by the Company in the form of shareholder advances is expected to be repaid from proceeds expected to be received in connection with the anticipated near-term capital raise not related to the prior 2022 convertible note offering.