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

	UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q [X] QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarter ended March 31, 2024 [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File No. 333-177532 KAYA HOLDINGS, INC. (Exact name of registrant as specified in its charter)
	Delaware	90-0898007
(State of other jurisdiction of incorporation or organization)		(I.R.S. Employer Identification No.)

915 Middle River Drive, Suite 316

Ft. Lauderdale, Florida 33304

(Address of principal executive offices)

(954)-892-6911

(Registrant’s telephone number, including area code)

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

Title of each class		Trading symbol(s)		Name of each exchange on which registered
None

Securities registered under Section 12(g) of the Exchange Act:

None

(Title of Class)

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. [ ] Yes [X] No

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. [ ] Yes [X] No

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. [X] Yes [ ] No

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 during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). [X] Yes [ ] No

As of May 16, 2024, the Issuer had 22,172,835 shares of its common stock outstanding.

INDEX TO QUARTERLY REPORT ON FORM 10 Q

Part I – Financial Information Page

Item 1. Consolidated Financial Statements	Page
Consolidated Balance Sheet	4
Consolidated Statements of Operation	5
Consolidated Statements of Cash Flows	6
Statement of Stockholder’s deficit for the three month period ended March 31, 2024 and 2023	7
Statement of Comprehensive Income (Loss) for three month period ended March 31, 2024 and 2023	8
Notes to Consolidated Financial Statements	9
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations	29
Item 3. Quantitative and Qualitative Disclosures About Market Risk	41
Item 4. Controls and Procedures	41

Part II Other Information

Item 1. Legal Proceedings	43
Item 1A. Risk Factors	44
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds	44
Item 3. Defaults Upon Senior Securities	44
Item 4. Mine Safety Disclosures	44
Item 5. Other Information	44
Item 6. Exhibits	44
Signatures	45

In this Quarterly Report on Form 10-Q, the terms “ KAYS ,” “ the Company ,” “ we ,” “ us ” and “ our ” refer to Kaya Holdings, Inc. and its owned and controlled subsidiaries, unless the context indicates otherwise.

Cautionary Note Regarding Forward Looking Statements

Information contained in this Quarterly Report on Form 10-Q contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”) and Section 21E of the Securities Exchange Act of 1934, as amended (the ‘Exchange Act”). These forward-looking statements are generally identifiable by use of the words “may,” “will,” “should,” “expect,” “anticipate,” “estimate,” “believe,” “intend” or “project” or the negative of these words or other variations on these words or comparable terminology.

The forward-looking statements herein represent our expectations, beliefs, plans, intentions or strategies concerning future events. Our forward-looking statements are based on assumptions that may be incorrect, and there can be no assurance that any projections or other expectations included in any forward-looking statements will come to pass. Moreover, our forward-looking statements are subject to various known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from future results, performance or achievements expressed or implied by any forward-looking statements.

Except as required by applicable laws, we undertake no obligation to update publicly any forward-looking statements for any reason, even if new information becomes available or other events occur in the future.

Available Information

We file annual, quarterly and special reports and other information with the Securities and Exchange Commission (“SEC”) that can be obtained from the SEC by telephoning 1-800-SEC-0330. The Company’s filings are also available through the SEC’s Electronic Data Gathering Analysis and Retrieval System, known as EDGAR, through the SEC’s website (www.sec.gov).

Kaya Holdings, Inc. and Subsidiaries

Consolidated Balance Sheets

March 31, 2024 and December 31, 2023

ASSETS
	(Unaudited)			(Audited)
	March 31, 2024			December 31, 2023
CURRENT ASSETS:
Cash and equivalents	$	74,997		$	29,108
Inventory		—			9,259
Prepaid expenses		58,188			58,588
Total current assets		133,185			96,955

NON-CURRENT ASSETS:
Right-of-use asset - operating lease		12,585			29,865
Property and equipment, net of accumulated depreciation of $217,847 and $216,890		23,918			24,875
as of March 31, 2024 and December 31, 2023, respectively
Goodwill		22,697			23,682
Other Assets		35,229			40,479
Total non-current assets		94,429			118,901

Total assets	$	227,614		$	215,856


LIABILITIES AND STOCKHOLDERS' DEFICIT

CURRENT LIABILITIES:
Accounts payable and accrued expense	$	603,735		$	589,085
Accounts payable and accrued expense-related parties		615,759			514,972
Accrued interest		2,530,743			2,369,015
Right-of-use liability - operating lease		12,704			30,885
Taxable Payable		902,163			899,344
Convertible notes payable, net of discount of $0 and $0		125,000			125,000
Notes payable		9,312			124,312
Derivative liabilities		3,488,082			2,752,321
Total current liabilities		8,287,498			7,404,934

NON-CURRENT LIABILITIES:
Notes payable		500,000			500,000
Notes payable-related party		250,000			250,000
Convertible notes payable, net of discount of $108,944 and $742		7,535,708			7,311,410
Accrued expense-related parties		500,000			500,000
Total non-current liabilities		8,785,708			8,561,410

Total liabilities		17,073,206			15,966,344

STOCKHOLDERS' DEFICIT:
Common stock , par value $.001; 500,000,000 shares authorized; 22,172,835 shares and 22,172,835 shares issued as of March 31, 2024 and December 31, 2023, respectively; 22,172,835 and 22,172,835 shares outstanding as of March 31, 2024 December 31, 2023, respectively		22,173			22,173
Subscriptions payable		163,630			163,630
Additional paid in capital		22,506,043			22,493,783
Accumulated deficit		(37,547,255	)		(36,462,263	)
Accumulated other comprehensive income		(13,614	)		(12,617	)
Total stockholders' deficit attributable to parent company		(14,869,023	)		(13,795,294	)
Non-controlling interest		(1,976,569	)		(1,955,194	)
Total stockholders' deficit		(16,845,592	)		(15,750,488	)

Total liabilities and stockholders' deficit	$	227,614		$	215,856

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

Kaya Holdings, Inc. and Subsidiaries

Consolidated Statements of Operations

	(Unaudited)			(Unaudited)
	For The			For The
	Three-months Ended			Three-months Ended
	March 31, 2024			March 31, 2023

Net sales	$	28,009		$	48,245

Cost of sales		13,406			16,597

Gross profit		14,603			31,648

Operating expenses:
Professional fees		189,425			231,249
Salaries and wages		44,915			42,131
General and administrative		78,849			94,146
Total operating expenses		313,189			367,526

Operating loss		(298,586	)		(335,878	)

Other income (expense):
Interest expense		(180,330	)		(162,039	)
Amortization of debt discount		(5,638	)		(181,543	)
Gain on disposal		—			177,883
Change in derivative liabilities expense		(621,921	)		542,983
Other income (expense)		3,614

Total other income (loss)		(804,275	)		377,284

Net income from continuing operations before income taxes		(1,102,861	)		41,406

Provision for Income Taxes		(2,819	)		(6,473	)

Net income (loss)		(1,105,680	)		34,933

Net loss attributed to non-controlling interest		(20,688	)		(32,226	)

Net income (loss) attributed to Kaya Holdings, Inc.		(1,084,992	)		67,159

Basic net income per common share	$	(0.01	)	$	0.07

Weighted average number of common shares outstanding - Basic		185,802,835			22,172,835

Diluted net income per common share	$	(0.01	)	$	0.01

Weighted average number of common shares outstanding - Diluted		185,802,835			203,750,520

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

Kaya Holdings, Inc. and Subsidiaries

Consolidated Statement of Cashflows

	(Unaudited)			(Unaudited)
	For The			For The
	Three-months Ended			Three-months Ended
	March 31, 2024			March 31, 2023
OPERATING ACTIVITIES:
Net income (loss)	$	(1,084,992	)	$	67,159
Adjustments to reconcile net income / loss to net cash used in operating activities:
Adjustment to non-controlling interest		(20,688	)		(32,226	)
Depreciation		957			3,517
Imputed interest		5,610			5,548
Loss (gain) on impairment of right-of use asset		—			—
Change in derivative liabilities		621,921			(542,983	)
Amortization of debt discount		5,638			181,543
Loss (gain) on disposal of fixed assets		—			(177,883	)
Changes in operating assets and liabilities:
Prepaid expense		—			5,100
Inventory		9,259			1,011
Right-of-use asset		17,280			25,677
Deposit		5,000			—
Other assets		—			—
Accrued interest		161,728			127,909
Accounts payable and accrued expenses		14,650			(12,741	)
Accounts payable and accrued expenses - Related Parties		100,787			56,638
Right-of-use liabilities		(18,181	)		(26,210	)
Deferred tax liabilities		2,819			6,473

Net cash provided by(used in) operating activities		(178,212	)		(311,468	)

INVESTING ACTIVITIES:
Proceeds from sales of subsidiary's stock		6,650			693,959

Net cash provided by investing activities		6,650			693,959

FINANCING ACTIVITIES:
Proceeds from convertible notes		217,500			—
Payments on convertible debt		—			(370,000	)

Net cash provided by financing activities		217,500			(370,000	)

NET INCREASE (DECREASE) IN CASH		45,938			12,491

Effects of currency translation on cash and cash equivalents		(49	)		(332	)

CASH BEGINNING BALANCE		29,108			18,330

CASH ENDING BALANCE	$	74,997		$	30,489

SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Interest paid		—			28,582

NON-CASH TRANSACTIONS AFFECTING OPERATING, INVESTING AND FINANCING ACTIVITIES:

Initial derivative liability on convertible note payable		113,840			—
Settlement of derivative liabilities		—			145,625

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

Kaya Holdings, Inc. and Subsidiaries

Consolidated Statements of Stockholders' Deficit

For the three months ended March 31, 2024 (Unaudited) and the year ended December 31, 2023 (Audited)

								Additional Paid-in Capital	Accumulated Deficit	Accumulated Comprehensive Loss	Noncontrolling Interest	Total Stockholders' Deficit
							Subscription Payable
	Preferred Stock - Series C		Preferred Stock - Series D		Common Stock		Subscription Payable
	Shares	Amount	Shares	Amount	Shares	Amount	Amount

Balance, December 31, 2022 (Audited)	-	$ -	40	$ -	22,172,835	$ 22,173	$ 163,630	$ 22,277,612	$ (38,071,960)	$(11,027)	$ (1,984,169)	$(17,603,741)

Imputed interest	-	-	-	-	-	-	-	5,548	-	-	-	5,548

Settlement of derivative liabilities to additional paid in capital	-	-	-	-	-	-	-	145,625	-	-	-	145,625

Translation Adjustment	-	-	-	-	-	-	-	-	-	(1,787)	2,315	528

Net Income	-	-	-	-	-	-	-	-	67,159	-	(32,226)	34,933

Balance, March 31, 2023	-	$ -	40	$ -	22,172,835	$ 22,173	$ 163,630	$ 22,428,785	$ (38,004,801)	$(12,814)	$ (2,014,080)	$(17,417,107)

Balance, December 31, 2023 (Audited)	-	-	40	-	22,172,835	22,173	163,630	22,493,783	(36,462,263)	(12,617)	(1,955,194)	(15,750,488)

Imputed interest	-	-	-	-	-	-	-	5,610	-	-	-	5,610

Equity transaction (Sale of subsidiary's stock)	-	-	-	-	-	-	-	6,650	-	-	-	6,650

Translation Adjustment	-	-	-	-	-	-	-	-	-	(997)	(687)	(1,684)

Net Income									(1,084,992)		(20,688)	(1,105,680)

Balance, March 31, 2024	-	-	40	-	22,172,835	22,173	163,630	22,506,043	(37,547,255)	(13,614)	(1,976,569)	(16,845,592)

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

Kaya Holdings, Inc. and Subsidiaries

Consolidated Statements of Comprehensive Income(Loss)

	(Unaudited)			(Unaudited)
	For The			For The
	Three-months Ended			Three-months Ended
	March 31, 2024			March 31, 2023

Net income (loss)	$	(1,084,992	)	$	67,159

Other comprehensive expense
Foreign currency adjustments		(1,684	)		528

Comprehensive income (loss)		(1,086,676	)		67,687

Other comprehensive income (expense)
Net loss attirbuted to non-controlling interest		(20,688	)		(32,226	)

Comprehensive loss attributatable to Kaya Holdings		(1,065,988	)		99,913

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

NOTE 1 – ORGANIZATION AND NATURE OF THE BUSINESS

Organization

Kaya Holdings, Inc. FKA (Alternative Fuels Americas, Inc.) is a holding company. The Company was incorporated in 1993 and has engaged in a number of businesses. Its name was changed on May 11, 2007 to NetSpace International Holdings, Inc. (a Delaware corporation) (“NetSpace”). NetSpace acquired 100% of Alternative Fuels Americas, Inc. (a Florida corporation) in January 2010 in a stock-for-member interest transaction and issued 6,567,247 shares of common stock and 100,000 shares of Series C convertible preferred stock to existing shareholders. Certificate of Amendment to the Certificate of Incorporation was filed in October 2010 changing the Company’s name from NetSpace International Holdings, Inc. to Alternative Fuels Americas, Inc. (a Delaware corporation). Certificate of Amendment to the Certificate of Incorporation was filed in March 2015 changing the Company’s name from Alternative Fuels Americas, Inc. (a Delaware corporation) to Kaya Holdings, Inc.

The Company has four subsidiaries: Marijuana Holdings Americas, Inc., a Florida corporation (“MJAI”), which is majority-owned and was formed on March 27, 2014 to maintain ownership of the Company’s Oregon based cannabis operations, 34225 Kowitz Road, LLC, a wholly-owned Oregon limited liability company which held ownership of the Company’s 26 acre property in Lebanon, Oregon (inactive since Feb 28, 2023 when the subject property was sold), Kaya Brand International, Inc., a Florida Corporation (“KBI”) which is majority-owned and was formed on October 14, 2019 to expand the business overseas (active) and Fifth Dimension Therapeutics, Inc., a Florida corporation which is majority owned (“FDT ”) and was formed on December 13, 2022 to develop and maintain ownership of the Company’s planned Psychedelic Treatment Centers offering psilocybin treatments.

MJAI Oregon 1 LLC is the entity that holds the licenses for the Company’s retail store operations. MJAI Oregon 5 LLC is the entity that held the license application for the Company’s 26 acre farm property in Lebanon Oregon (property sold 2/28/23, inactive since that date).

KBI is the entity that holds controlling ownership interests in Kaya Farms Greece, S.A. (a Greek corporation) and Kaya Shalvah (“Kaya Farms Israel”, an Israeli corporation). These two entities were formed to facilitate expansion of the Company’s business in Greece and Israel respectively.

Fifth Dimension Therapeutics, Inc. (FDT) is the entity that was formed to hold interests in psychedelic treatment facilities, with operations initially targeted for Oregon where FDT holds a 49% stake in FDT Oregon 1, LLC (“FDT1”, an Oregon limited liability company) and has an irrevocable option to acquire the remaining 51% stake in FDT1 after the sunsetting in January 1, 2025 of Oregon’s residency requirements for majority ownership in entities that hold OHA issued Psilocybin Licenses.

Nature of the Business

In January 2014, KAYS incorporated MJAI, a wholly owned subsidiary, to focus on opportunities in the legal recreational and medical marijuana in the United States.

On July 3, 2014 opened its first Kaya Shack™ MMD in Portland, Oregon. Between April of 2014 and December 31, 2023, KAYS owned and operated four (4 ) Kaya Shack™ retail cannabis medical and recreational dispensaries, three (3) Medical Marijuana Grow sites licensed by the OHA and two (2) Recreational Marijuana grow sites licensed by the OLCC (all in Oregon). The statuses of these operations are as follows:

The first Kaya Shack™ (Kaya Shack™ Store 1) opened in 2014 in Portland, Oregon at the same address as an Oregon Liquor and Cannabis Commission (OLCC) licensed medical and recreational marijuana retailer. On March 11, 2024, the Company notified the Oregon Liquor Control Commission (the “OLCC”) that we were temporarily closing this location. The Company is currently evaluating redeploying this remaining dispensary license to serve as a delivery hub for Portland residents, tourists and The Sacred Mushroom™ guests, among others.

Kaya Shack™ Store 2 was closed in December, 2022 as part of a sale and surrender agreement that the Company entered into with the OLCC to resolve an Administrative Action filed by the OLCC (as previously disclosed in the Company’s Annual Report on form 10-K for the period ending December 31, 2021 filed on April 18, 2022 and in the Company’s Quarterly report for the period ending March 31, 2022 filed on May 16, 2022). Per the terms of the agreement the Company agreed to either enter into a purchase and sale agreement for its retail license in South Salem by February 1, 2023 (the renewal date) or surrender the license. On April 21, 2023 the Company concluded the sale of Store 2 for $210,000, less a 6% closing commission and minor closing expenses. After these expenses and paying $75,000 to resolve three non-performing store leases in South Oregon, the Company netted $118,900.

Kaya Shack™ Store 3 and Kaya Shack™ Store 4 were both closed due to consolidation moves by the Company in 2020 and 2021, respectively, and the Company let the licenses lapse.

In August of 2017, the Company purchased a 26-acre parcel in Lebanon, Linn County, Oregon for $510,000 on which we intended to construct a Greenhouse Grow and Production Facility (the “Property”) and filed for OLCC licensure. In August of 2022, the Company entered into an agreement (the “CVC Agreement”) with CVC International, Inc. (“CVC”), an institutional investor who holds certain of the Company’s Convertible Promissory Notes (the “Notes”), one of which was secured by a $500,000 mortgage on the Property. CVC released its lien on the Property to enable the Company to sell the Property and utilize the proceeds therefrom for the benefit of the Company and its shareholders, without having to repay CVC the $500,000 Note held by CVC. Additionally, CVC agreed to advance certain sums against the sale of the Property (“Advances”), which amounted to $270,000 pending the sale of the Property. On February 28, 2023 we sold the Property for a price of $769,500, less commissions and customary closing costs. The net proceeds of the sale were used to repay the advances plus interest (including an additional $100,000 borrowed from another lender interest) and the Company realized net proceeds of approximately $302,000,000. The land is reflected on the balance sheet as assets held for sale for the year ended December 31, 2022 at a value of $516,076. The land was sold in 2023.

On September 26, 2019, the Company formed the majority owned subsidiary Kaya Brands International, Inc. (“KBI”) to serve as the Company’s vehicle for expansion into worldwide cannabis markets. Between September of 2019 and March 31, 2024 KBI has formed majority-owned subsidiaries in both Greece and Israel and its local operating subsidiaries have acquired interests in various licenses and entities.

On December 13, 2022 the Company formed Fifth Dimension Therapeutics ™ (“FTD”, a Florida Corporation) to seek to provide psychedelic services to sufferers of treatment resistant mental health diseases such as depression, PTSD and other mental health disorders. On January 3, 2023 the Oregon Health Authority (the “OHA”) began to accept license applications, allowing each entity to own and operate one (1) Psilocybin manufacturing and processing facility for the production of Psilocybin Mushrooms and derived therapeutics (“Psilocybins”), and up to five (5) Psilocybin Facilitation Centers where clients would go to ingest Psilocybins and experience effects under the supervision of State Licensed Facilitators.

On January 25, 2023 the Company confirmed that attorney Glenn E.J. Murphy was welcomed as a founding member to the FDT Board of Directors. Glenn will assist FDT with introductions to pharmaceutical companies seeking data and access to psychedelic patients, as well as advising on the development of intellectual property, structure of potential joint ventures, funding opportunities, acquisitions, and other related endeavors. Glenn has twenty-five years of private and corporate practice, including ten years in-house with the Henkel Group and more than fifteen years in private practice, Glenn's experience has touched on most every aspect of intellectual property practice.

On March 13, 2023, Bryan Arnold (one of KAYS Vice Presidents and its longest serving Oregon Employee) completed his OHA Certified Psilocybin Education through the Changra Institute and became one of the first eighteen graduates to obtain Psilocybin Facilitator certification in the State of Oregon. Bryan’s Facilitation License application has been approved by the OHA, and he now may oversee up to five (5) Psilocybin Treatment Facilities and up to one (1) Psilocybin Production Facility. Additionally, the Company expects to enroll additional potential licensee candidates within the coming months to bolster its ranks of OHA Licensed Psilocybin Facilitators as it moves forward with plans to open its first Psilocybin Clinic, subject to completion of financing and regulatory approvals.

On November 14, 2023 the Company filed a license application with the Oregon Department of Health (the “OHA”) for the licensure of The Sacred Mushroom™, an approximately 11,000 square foot psilocybin treatment center located in Portland, Oregon which would serve as the Company’s flagship psilocybin facility.

On March 6, 2024, the OHA completed its Psilocybin Service Center License Inspection and itemized three (3) facility structural/layout items that they wanted addressed/modified prior to issuing the facility license. On April 25, 2024 the Company received notice from the OHA that its license had been approved and we are targeting June 1, 2024 (or sooner) for our initial commencement of operations.

NOTE 2 – LIQUIDITY AND GOING CONCERN

The Company’s consolidated financial statements as of March 31, 2024 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. The Company incurred net loss of $1,084,992 for the three months ended March 31, 2024 and net income of $67,159 for the three months ended March 31, 2023. The net loss is due to the changes in derivative liabilities. At March 31, 2024 the Company has a working capital deficiency of $8,154,313 and is totally dependent on its ability to raise capital. The Company has a plan of operations and acknowledges that its plan of operations may not result in generating positive working capital in the near future. Even though management believes that it will be able to successfully execute its business plan, which includes third-party financing and capital issuance, and meet the Company’s future liquidity needs, there can be no assurances in that regard. These matters raise substantial doubt about the Company’s ability to continue as a going concern. The consolidated financial statements do not include any adjustments that might result from the outcome of this material uncertainty. Management recognizes that the Company must generate additional funds to successfully develop its operations and activities. Management plans include:

•

the sale of additional equity and debt securities,

•

alliances and/or partnerships with entities interested in and having the resources to support the further development of the Company’s business plan,

•

business transactions to assure continuation of the Company’s development and operations,

•

development of a unified brand and the pursuit of licenses to operate recreational and medical marijuana facilities under the branded name.

NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND BASIS OF PRESENTATION

Basis of Presentation

The accompanying consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP) under the accrual basis of accounting.

Reclassifications

Certain prior period amounts have been reclassified to conform to the current period presentation.

Use of Estimates

The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes.

Such estimates and assumptions impact both assets and liabilities, including but not limited to: net realizable value of accounts receivable and inventory, estimated useful lives and potential impairment of property and equipment, the valuation of intangible assets, estimate of fair value of share based payments and derivative liabilities, estimates of fair value of warrants issued and recorded as debt discount, estimates of tax liabilities and estimates of the probability and potential magnitude of contingent liabilities.

Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the financial statements, which management considered in formulating its estimate could change in the near term due to one or more future non-conforming events. Accordingly, actual results could differ significantly from estimates.

Risks and Uncertainties

The Company’s operations are subject to risk and uncertainties including financial, operational, regulatory and other risks including the potential risk of business failure.

The Company has experienced, and in the future expects to continue to experience, variability in its sales and earnings. The factors expected to contribute to this variability include, among others, (i) the uncertainty associated with the commercialization and ultimate success of the product, (ii) competition inherent at other locations where product is expected to be sold (iii) general economic conditions and (iv) the related volatility of prices pertaining to the cost of sales.

Principles of Consolidation

The accompanying consolidated financial statements include the accounts of Kaya Holdings, Inc. and all wholly and majority-owned subsidiaries. All significant intercompany balances have been eliminated.

Majority-owned subsidiaries:

Fifth Dimension Therapeutics, Inc. (a Florida Corporation)

Kaya Brands International, Inc. (a Florida Corporation)

Kaya Shalvah (“Kaya Farms Israel”, an Israeli corporation) majority owned subsidiary of KBI)

Kaya Farms Greece, S.A. (a Greek Corporation) majority owned subsidiary of KBI)

Marijuana Holdings Americas, Inc. (a Florida corporation)

MJAI Oregon 1 LLC

Non-Controlling Interest

The company owned 55% of Marijuana Holdings Americas until September 30, 2019. Starting October 1, 2019, Kaya Holding, Inc. owns 65% of Marijuana Holdings Americas, Inc. As of December 31, 2022, Kaya owns 65% of Marijuana Holdings Americas, Inc.

The company owned 85% of Kaya Brands International, Inc. until July 31, 2020. Starting August 1, 2020, Kaya Holding, Inc. owns 65% of Kaya Brands International, Inc.

The Company owns 65% of Fifth Dimension Therapeutics, Inc.

Cash and Cash Equivalents

Cash and cash equivalents are carried at cost and represent cash on hand, demand deposits placed with banks or other financial institutions and all highly liquid investments with an original maturity of three months or less. The Company had no cash equivalents.

Inventory

Inventory consists of finished goods purchased, which are valued at the lower of cost or market value, with cost being determined on the first-in, first-out method. The Company periodically reviews historical sales activity to determine potentially obsolete items and also evaluates the impact of any anticipated changes in future demand. Total Value of Finished goods inventory as of March 31, 2024 is $0 and $9,259 as of December 31, 2023. Inventory allowance and impairment were $0 and $0 as of March 31, 2024 and December 31, 2023, respectively.

Property and Equipment

Property and equipment is stated at cost, less accumulated depreciation and is reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable.

Depreciation of property and equipment is provided utilizing the straight-line method over the estimated useful lives, ranging from 5-30 years of the respective assets. Expenditures for maintenance and repairs are charged to expense as incurred.

Upon sale or retirement of property and equipment, the related cost and accumulated depreciation are removed from the accounts and any gain or loss is reflected in the statements of operations.

Long-lived assets

The Company reviews long-lived assets and certain identifiable intangibles held and used for possible impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. In evaluating the fair value and future benefits of its intangible assets, management performs an analysis of the anticipated undiscounted future net cash flow of the individual assets over the remaining amortization period. The Company recognizes an impairment loss if the carrying value of the asset exceeds the expected future cash flows.

Accounting for the Impairment of Long-Lived Assets

We evaluate long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Upon such an occurrence, the recoverability of assets to be held and used is measured by comparing the carrying amount of an asset to forecasted undiscounted net cash flows expected to be generated by the asset. If the carrying amount of the asset exceeds its estimated future cash flows, an impairment charge is recognized by the amount by which the carrying amount of the asset exceeds the fair value of the asset. For long-lived assets held for sale, assets are written down to fair value, less cost to sell. Fair value is determined based on discounted cash flows, appraised values or management's estimates, depending upon the nature of the assets.

Operating Leases

We lease our retail stores under non-cancellable operating leases. Most store leases include tenant allowances from landlords, rent escalation clauses and/or contingent rent provisions. We recognize rent expense on a straight-line basis over the lease term, excluding contingent rent, and record the difference between the amount charged to expense and the rent paid as a deferred rent liability.

Deferred Rent and Tenant Allowances

Deferred rent is recognized when a lease contains fixed rent escalations. We recognize the related rent expense on a straight-line basis starting from the date of possession and record the difference between the recognized rental expense and cash rent payable as deferred rent. Deferred rent also includes tenant allowances received from landlords in accordance with negotiated lease terms. The tenant allowances are amortized as a reduction to rent expense on a straight-line basis over the term of the lease starting at the date of possession.

Earnings Per Share

In accordance with ASC 260, Earnings per Share, the Company calculates basic earnings per share by dividing net income (loss) by the weighted average number of common shares outstanding during the period. Diluted earnings per share are computed if the Company has net income; otherwise it would be anti-dilutive and would result from the conversion of a convertible note.

Income Taxes

The Company accounts for income taxes in accordance with ASC 740, Accounting for Income Taxes, as clarified by ASC 740-10, Accounting for Uncertainty in Income Taxes. Under this method, deferred income taxes are determined based on the estimated future tax effects of differences between the financial statement and tax basis of assets and liabilities given the provisions of enacted tax laws. Deferred income tax provisions and benefits are based on changes to the assets or liabilities from year to year. In providing for deferred taxes, the Company considers tax regulations of the jurisdictions in which the Company operates, estimates of future taxable income, and available tax planning strategies. If tax regulations, operating results or the ability to implement tax-planning strategies vary, adjustments to the carrying value of deferred tax assets and liabilities may be required. Valuation allowances are recorded related to deferred tax assets based on the “more likely than not” criteria of ASC 740.

ASC 740-10 requires that the Company recognize the financial statement benefit of a tax position only after determining that the relevant tax authority would more likely than not sustain the position following an audit. For tax positions meeting the “more-likely-than-not” threshold, the amount recognized in the financial statements is the largest benefit that has a greater than 50 percent likelihood of being realized upon ultimate settlement with the relevant tax authority.

We are subject to certain tax risks and treatments that could negatively impact our results of operations

Section 280E of the Internal Revenue Code, as amended, prohibits businesses from deducting certain expenses associated with trafficking-controlled substances (within the meaning of Schedule I and II of the Controlled Substances Act). The IRS has invoked Section 280E in tax audits against various cannabis businesses in the U.S. that are permitted under applicable state laws. Although the IRS issued a clarification allowing the deduction of certain expenses, the scope of such items is interpreted very narrowly, and the bulk of operating costs and general administrative costs are not permitted to be deducted. While there are currently several pending cases before various administrative and federal courts challenging these restrictions, there is no guarantee that these courts will issue an interpretation of Section 280E favorable to cannabis businesses.

Provision for Income Taxes

We recorded a provision for income taxes in the amount of $93,910 during the year ended December 31, 2022 compared to $782,107 during the year ended December 31, 2021. Although we have net operating losses that we believe are available to us to offset this entire tax liability, which arises under Section 280E of the Code because we are a cannabis company, as a conservative measure, we have accrued this liability.

Fair Value of Financial Instruments

The Company measures assets and liabilities at fair value based on an expected exit price as defined by the authoritative guidance on fair value measurements, which represents the amount that would be received on the sale of an asset or paid to transfer a liability, as the case may be, in an orderly transaction between market participants. As such, fair value may be based on assumptions that market participants would use in pricing an asset or liability. The authoritative guidance on fair value measurements establishes a consistent framework for measuring fair value on either a recurring or nonrecurring basis whereby inputs, used in valuation techniques, are assigned a hierarchical level.

The following are the hierarchical levels of inputs to measure fair value:

•

Level 1 – Observable inputs that reflect quoted market prices in active markets for identical assets or liabilities.

•

Level 2 - Inputs reflect quoted prices for identical assets or liabilities in markets that are not active; quoted prices for similar assets or liabilities in active markets; inputs other than quoted prices that are observable for the assets or liabilities; or inputs that are derived principally from or corroborated by observable market data by correlation or other means.

•

Level 3 – Unobservable inputs reflecting the Company’s assumptions incorporated in valuation techniques used to determine fair value. These assumptions are required to be consistent with market participant assumptions that are reasonably available.

	Fair Value Measurements at March 31, 2024
	Level 1		Level 2		Level 3
Assets
Cash	$	74,997	$	—	$	—
Total assets		74,997		—		—
Liabilities
Convertible debentures, net of discounts of $108,944		—		—		7,660,708
Derivative liability		—		—		3,488,082
Total liabilities		—		—		11,148,790
	$	74,997	$	—	$	(11,148,790	)
		Fair Value Measurements at December 31, 2023
		Level 1		Level 2		Level 3
Assets
Cash	$	29,108	$	—	$	—
Total assets		29,108		—		—
Liabilities
Convertible debentures, net of discounts of $742		—		—		7,436,410
Derivative liability		—		—		2,752,321
Total liabilities		—		—		10,188,731
	$	29,108	$	—	$	(10,188,731	)

The carrying amounts of the Company’s financial assets and liabilities, such as cash, prepaid expenses, other current assets, accounts payable & accrued expenses, certain notes payable and notes payable – related party, approximate their fair values because of the short maturity of these instruments.

The Company accounts for its derivative liabilities, at fair value, on a recurring basis under level 3. See Note 7.

Embedded Conversion Features

The Company evaluates embedded conversion features within convertible debt under ASC 815 “Derivatives and Hedging” to determine whether the embedded conversion feature(s) should be bifurcated from the host instrument and accounted for as a derivative at fair value with changes in fair value recorded in earnings. If the conversion feature does not require derivative treatment under ASC 815, the instrument is evaluated under ASC 470-20 “Debt with Conversion and Other Options” for consideration of any beneficial conversion feature.

Derivative Financial Instruments

The Company does not use derivative instruments to hedge exposures to cash flow, market, or foreign currency risks. The Company evaluates all of its financial instruments, including stock purchase warrants, to determine if such instruments are derivatives or contain features that qualify as embedded derivatives.

For derivative financial instruments that are accounted for as liabilities, the derivative instrument is initially recorded at its fair value and is then re-valued at each reporting date, with changes in the fair value reported as charges or credits to income. For option-based simple derivative financial instruments, the Company uses the Binomial option-pricing model to value the derivative instruments at inception and subsequent valuation dates. The classification of derivative instruments, including whether such instruments should be recorded as liabilities or as equity, is reassessed at the end of each reporting period.

In July 2017, the FASB issued ASU 2017-11 Earnings Per Share (Topic 260); Distinguishing Liabilities from Equity (Topic 480); Derivative and Hedging (Topic 815). The amendments in Part I of this Update change the classification analysis of certain equity-linked financial instruments (or embedded features) with down round features. When determining whether certain financial instruments should be classified as liabilities or equity instruments, a down round feature no longer precludes equity classification when assessing whether the instrument is indexed to an entity’s own stock. The amendment also clarifies existing disclosure requirements for equity-classified instruments. As a result, a freestanding equity-linked financial instrument (or embedded conversion option) no longer would be accounted for as a derivative liability at fair value as a result of the existence of a down round feature. For freestanding equity classified financial instruments, the amendments require entities that present earnings per share (“EPS”) in accordance with Topic 260 to recognize the effect of the down round feature when it is triggered. That effect is treated as a dividend and as a reduction of income available to common shareholders in basic EPS. Convertible instruments with embedded conversion options that have down round features are now subject to the specialized guidance for contingent beneficial conversion features (in Subtopic 470-20, Debt-Debt with Conversion and Other Options), including related EPS guidance (in Topic 260). The amendments in Part II of this Update recharacterize the indefinite deferral of certain provisions of Topic 480 that now are presented as pending content in the Codification, to a scope exception. Those amendments do not have an accounting effect.

Prior to this Update, an equity-linked financial instrument with a down round feature that otherwise is not required to be classified as a liability under the guidance in Topic 480 is evaluated under the guidance in Topic 815, Derivatives and Hedging, to determine whether it meets the definition of a derivative. If it meets that definition, the instrument (or embedded feature) is evaluated to determine whether it is indexed to an entity’s own stock as part of the analysis of whether it qualifies for a scope exception from derivative accounting. Generally, for warrants and conversion options embedded in financial instruments that are deemed to have a debt host (assuming the underlying shares are readily convertible to cash or the contract provides for net settlement such that the embedded conversion option meets the definition of a derivative), the existence of a down round feature results in an instrument not being considered indexed to an entity’s own stock. This results in a reporting entity being required to classify the freestanding financial instrument or the bifurcated conversion option as a liability, which the entity must measure at fair value initially and at each subsequent reporting date.

The amendments in this Update revise the guidance for instruments with down round features in Subtopic 815-40, Derivatives and Hedging—Contracts in Entity’s Own Equity, which is considered in determining whether an equity-linked financial instrument qualifies for a scope exception from derivative accounting. An entity still is required to determine whether instruments would be classified in equity under the guidance in Subtopic 815-40 in determining whether they qualify for that scope exception. If they do qualify, freestanding instruments with down round features are no longer classified as liabilities and embedded conversion options with down round features are no longer bifurcated.

For entities that present EPS in accordance with Topic 260, and when the down round feature is included in an equity-classified freestanding financial instrument, the value of the effect of the down round feature is treated as a dividend when it is triggered and as a numerator adjustment in the basic EPS calculation. This reflects the occurrence of an economic transfer of value to the holder of the instrument, while alleviating the complexity and income statement volatility associated with fair value measurement on an ongoing basis. Convertible instruments are unaffected by the Topic 260 amendments in this Update.

The amendments in Part 1 of this Update are a cost savings relative to former accounting. This is because, assuming the required criteria for equity classification in Subtopic 815-40 are met, an entity that issued such an instrument no longer measures the instrument at fair value at each reporting period (in the case of warrants) or separately accounts for a bifurcated derivative (in the case of convertible instruments) on the basis of the existence of a down round feature. For convertible instruments with embedded conversion options that have down round features, applying specialized guidance such as the model for contingent beneficial conversion features rather than bifurcating an embedded derivative also reduces cost and complexity. Under that specialized guidance, the issuer recognizes the intrinsic value of the feature only when the feature becomes beneficial instead of bifurcating the conversion option and measuring it at fair value each reporting period.

The amendments in Part II of this Update replace the indefinite deferral of certain guidance in Topic 480 with a scope exception. This has the benefit of improving the readability of the Codification and reducing the complexity associated with navigating the guidance in Topic 480.

The Company adopted this new standard on January 1, 2019; however, the Company needs to continue the derivative liabilities due to variable conversion price on some of the convertible instruments. As such, it did not have a material impact on the Company’s consolidated financial statements.

Beneficial Conversion Feature

For conventional convertible debt where the rate of conversion is below market value, the Company records a "beneficial conversion feature" ("BCF") and related debt discount.

When the Company records a BCF, the relative fair value of the BCF is recorded as a debt discount against the face amount of the respective debt instrument (offset to additional paid in capital) and amortized to interest expense over the life of the debt.

Debt Issue Costs and Debt Discount

The Company may record debt issue costs and/or debt discounts in connection with raising funds through the issuance of debt. These costs may be paid in the form of cash, or equity (such as warrants). These costs are amortized to interest expense over the life of the debt. If a conversion of the underlying debt occurs, a proportionate share of the unamortized amounts is immediately expensed.

Original Issue Discount

For certain convertible debt issued, the Company may provide the debt holder with an original issue discount. The original issue discount would be recorded as a debt discount, reducing the face amount of the note and is amortized to interest expense over the life of the debt.

Extinguishments of Liabilities

The Company accounts for extinguishments of liabilities in accordance with ASC 405-20 “Accounting for Transfers and Servicing of Financial Assets and Extinguishment of Liabilities”. When the conditions are met for extinguishment accounting, the liabilities are derecognized and the gain or loss on the sale is recognized.

Stock-Based Compensation - Employees

The Company accounts for its stock-based compensation in which the Company obtains employee services in share-based payment transactions under the recognition and measurement principles of the fair value recognition provisions of section 718-10-30 of the FASB Accounting Standards Codification. Pursuant to paragraph 718-10-30-6 of the FASB Accounting Standards Codification, all transactions in which goods or services are the consideration received for the issuance of equity instruments are accounted for based on the fair value of the consideration received or the fair value of the equity instrument issued, whichever is more reliably measurable.

The measurement date used to determine the fair value of the equity instrument issued is the earlier of the date on which the performance is complete or the date on which it is probable that performance will occur.

If the Company is a newly formed corporation or shares of the Company are thinly traded, the use of share prices established in the Company’s most recent private placement memorandum (based on sales to third parties) (“PPM”), or weekly or monthly price observations would generally be more appropriate than the use of daily price observations as such shares could be artificially inflated due to a larger spread between the bid and asked quotes and lack of consistent trading in the market.

The fair value of share options and similar instruments is estimated on the date of grant using a Binomial Option Model option-pricing valuation model. The ranges of assumptions for inputs are as follows:

•		Expected term of share options and similar instruments: The expected life of options and similar instruments represents the period of time the option and/or warrant are expected to be outstanding. Pursuant to Paragraph 718-10-50-2(f)(2)(i) of the FASB Accounting Standards Codification the expected term of share options and similar instruments represents the period of time the options and similar instruments are expected to be outstanding taking into consideration of the contractual term of the instruments and employees’ expected exercise and post-vesting employment termination behavior into the fair value (or calculated value) of the instruments. Pursuant to paragraph 718-10-S99-1, it may be appropriate to use the simplified method, i.e., expected term = ((vesting term + original contractual term) / 2), if (i) A company does not have sufficient historical exercise data to provide a reasonable basis upon which to estimate expected term due to the limited period of time its equity shares have been publicly traded; (ii) A company significantly changes the terms of its share option grants or the types of employees that receive share option grants such that its historical exercise data may no longer provide a reasonable basis upon which to estimate expected term; or (iii) A company has or expects to have significant structural changes in its business such that its historical exercise data may no longer provide a reasonable basis upon which to estimate expected term. The Company uses the simplified method to calculate expected term of share options and similar instruments as the company does not have sufficient historical exercise data to provide a reasonable basis upon which to estimate expected term.
•		Expected volatility of the entity’s shares and the method used to estimate it. Pursuant to ASC Paragraph 718-10-50-2(f)(2)(ii) a thinly-traded or nonpublic entity that uses the calculated value method shall disclose the reasons why it is not practicable for the Company to estimate the expected volatility of its share price, the appropriate industry sector index that it has selected, the reasons for selecting that particular index, and how it has calculated historical volatility using that index. The Company uses the average historical volatility of the comparable companies over the expected contractual life of the share options or similar instruments as its expected volatility. If shares of a company are thinly traded the use of weekly or monthly price observations would generally be more appropriate than the use of daily price observations as the volatility calculation using daily observations for such shares could be artificially inflated due to a larger spread between the bid and asked quotes and lack of consistent trading in the market.
•		Expected annual rate of quarterly dividends. An entity that uses a method that employs different dividend rates during the contractual term shall disclose the range of expected dividends used and the weighted-average expected dividends. The expected dividend yield is based on the Company’s current dividend yield as the best estimate of projected dividend yield for periods within the expected term of the share options and similar instruments.
•		Risk-free rate(s). An entity that uses a method that employs different risk-free rates shall disclose the range of risk-free rates used. The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of grant for periods within the expected term of the share options and similar instruments.

Generally, all forms of share-based payments, including stock option grants, warrants and restricted stock grants and stock appreciation rights are measured at their fair value on the awards’ grant date, based on estimated number of awards that are ultimately expected to vest.

The expense resulting from share-based payments is recorded in general and administrative expense in the statements of operations.

Stock-Based Compensation – Non-Employees

Equity Instruments Issued to Parties Other Than Employees for Acquiring Goods or Services

In June 2018, the FASB issued ASU No. 2018-07, Compensation – Stock Compensation: Improvement to Nonemployee Share-Based Payment Accounting (Topic 718). The ASU supersedes ASC 505-50, Equity-Based Payment to Non-Employment and expends the scope of the Topic 718 to include stock-based payments granted to non-employees. Under the new guidance, the measurement date and performance and vesting conditions for stock-based payments to non-employees are aligned with those of employees, most notably aligning the award measurement date with the grant date of an award. The new guidance is required to be adopted using the modified retrospective transition approach. The Company adopted the new guidance effective January 1, 2019, with an immaterial impact on its financial statements and related disclosures.

The fair value of share options and similar instruments is estimated on the date of grant using a Binomial option-pricing valuation model. The ranges of assumptions for inputs are as follows:

•		Expected term of share options and similar instruments: Pursuant to Paragraph 718-10-50-2(f)(2)(i) of the FASB Accounting Standards Codification the expected term of share options and similar instruments represents the period of time the options and similar instruments are expected to be outstanding taking into consideration of the contractual term of the instruments and holder’s expected exercise behavior into the fair value (or calculated value) of the instruments. The Company uses historical data to estimate holder’s expected exercise behavior. If the Company is a newly formed corporation or shares of the Company are thinly traded the contractual term of the share options and similar instruments is used as the expected term of share options and similar instruments as the Company does not have sufficient historical exercise data to provide a reasonable basis upon which to estimate expected term.
•		Expected volatility of the entity’s shares and the method used to estimate it. Pursuant to ASC Paragraph 718-10-50-2(f)(2)(ii) a thinly-traded or nonpublic entity that uses the calculated value method shall disclose the reasons why it is not practicable for the Company to estimate the expected volatility of its share price, the appropriate industry sector index that it has selected, the reasons for selecting that particular index, and how it has calculated historical volatility using that index. The Company uses the average historical volatility of the comparable companies over the expected contractual life of the share options or similar instruments as its expected volatility. If shares of a company are thinly traded the use of weekly or monthly price observations would generally be more appropriate than the use of daily price observations as the volatility calculation using daily observations for such shares could be artificially inflated due to a larger spread between the bid and asked quotes and lack of consistent trading in the market.
•		Expected annual rate of quarterly dividends. An entity that uses a method that employs different dividend rates during the contractual term shall disclose the range of expected dividends used and the weighted-average expected dividends. The expected dividend yield is based on the Company’s current dividend yield as the best estimate of projected dividend yield for periods within the expected term of the share options and similar instruments.
•		Risk-free rate(s). An entity that uses a method that employs different risk-free rates shall disclose the range of risk-free rates used. The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of grant for periods within the expected term of the share options and similar instruments.

Revenue Recognition

Effective January 1, 2018, the Company adopted ASC 606 – Revenue from Contracts with Customers. Under ASC 606, the Company recognizes revenue from the commercial sales of products, licensing agreements and contracts to perform pilot studies by applying the following steps: (1) identifying the contract with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to each performance obligation in the contract; and (5) recognize revenue when each performance obligation is satisfied.

To confirm, all of our OLCC licensed cannabis retail sales operations are conducted and operated on a “cash and carry” basis- product(s) from our inventory accounts are sold to the customer(s) and the customer settles the account at time of receipt of product via cash payment at our retail store; the transaction is recorded at the time of sale in our point-of-sale software system. Revenue is only reported after the product has been delivered to the customer and the customer has paid for the product with cash.

To date the only other revenue we have received is for ATM transactions and revenue from this activity is only reported after we receive payment via check from the ATM service provider company.

Cost of Sales

Cost of sales represents costs directly related to the purchase of goods and third party testing of the Company’s products.

Related Parties

The Company follows subtopic 850-10 of the FASB Accounting Standards Codification for the identification of related parties and disclosure of related party transactions.

Pursuant to Section 850-10-20 the related parties include a. affiliates of the Company; b. Entities for which investments in their equity securities would be required, absent the election of the fair value option under the Fair Value Option Subsection of Section 825–10–15, to be accounted for by the equity method by the investing entity; c. trusts for the benefit of employees, such as pension and profit-sharing trusts that are managed by or under the trusteeship of management; d. principal owners of the Company; e. management of the Company; f. other parties with which the Company may deal if one party controls or can significantly influence the management or operating policies of the other to an extent that one of the transacting parties might be prevented from fully pursuing its own separate interests; and g. Other parties that can significantly influence the management or operating policies of the transacting parties or that have an ownership interest in one of the transacting parties and can significantly influence the other to an extent that one or more of the transacting parties might be prevented from fully pursuing its own separate interests.

The consolidated financial statements shall include disclosures of material related party transactions, other than compensation arrangements, expense allowances, and other similar items in the ordinary course of business. However, disclosure of transactions that are eliminated in the preparation of consolidated or combined financial statements is not required in those statements.

The disclosures shall include: a. the nature of the relationship(s) involved; b. a description of the transactions, including transactions to which no amounts or nominal amounts were ascribed, for each of the periods for which income statements are presented, and such other information deemed necessary to an understanding of the effects of the transactions on the financial statements; c. the dollar amounts of transactions for each of the periods for which income statements are presented and the effects of any change in the method of establishing the terms from that used in the preceding period; and d. amounts due from or to related parties as of the date of each balance sheet presented and, if not otherwise apparent, the terms and manner of settlement.

Contingencies

The Company follows subtopic 450-20 of the FASB Accounting Standards Codification to report accounting for contingencies. Certain conditions may exist as of the date the consolidated financial statements are issued, which may result in a loss to the Company but which will only be resolved when one or more future events occur or fail to occur. The Company assesses such contingent liabilities, and such assessment inherently involves an exercise of judgment. In assessing loss contingencies related to legal proceedings that are pending against the Company or unasserted claims that may result in such proceedings, the Company evaluates the perceived merits of any legal proceedings or unasserted claims as well as the perceived merits of the amount of relief sought or expected to be sought therein.

If the assessment of a contingency indicates that it is probable that a material loss has been incurred and the amount of the liability can be estimated, then the estimated liability would be accrued in the Company’s financial statements. If the assessment indicates that a potentially material loss contingency is not probable but is reasonably possible, or is probable but cannot be estimated, then the nature of the contingent liability, and an estimate of the range of possible losses, if determinable and material, would be disclosed.

Loss contingencies considered remote are generally not disclosed unless they involve guarantees, in which case the guarantees would be disclosed. However, there is no assurance that such matters will not materially and adversely affect the Company’s business, consolidated financial position, and consolidated results of operations or consolidated cash flows.

Uncertain Tax Positions

The Company did not take any uncertain tax positions and had no adjustments to its income tax liabilities or benefits pursuant to the provisions of Section 740-10-25 for the reporting period ended December 31, 2023.

Subsequent Events

The Company follows the guidance in Section 855-10-50 of the FASB Accounting Standards Codification for the disclosure of subsequent events. The Company will evaluate subsequent events through the date when the financial statements are issued.

Recently Issued Accounting Pronouncements

From time to time, new accounting pronouncements are issued by the FASB or other standard setting bodies that are adopted by the Company as of the specified effective date. Unless otherwise discussed, the Company believes that the effect of recently issued standards that are not yet effective will not have a material effect on its consolidated financial position or results of operations upon adoption.

In November 2023, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2023-07, Improvements to Reportable Segment Disclosures (Topic 280). This ASU updates reportable segment disclosure requirements by requiring disclosures of significant reportable segment expenses that are regularly provided to the Chief Operating Decision Maker (“CODM”) and included within each reported measure of a segment's profit or loss. This ASU also requires disclosure of the title and position of the individual identified as the CODM and an explanation of how the CODM uses the reported measures of a segment’s profit or loss in assessing segment performance and deciding how to allocate resources. The ASU is effective for annual periods beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Adoption of the ASU should be applied retrospectively to all prior periods presented in the financial statements. Early adoption is also permitted. This ASU will likely result in us including the additional required disclosures when adopted. We are currently evaluating the provisions of this ASU and expect to adopt them for the year ending December 31, 2024.

In December 2023, the FASB issued ASU No. 2023-09, Improvements to Income Tax Disclosures (Topic 740). The ASU requires disaggregated information about a reporting entity’s effective tax rate reconciliation as well as additional information on income taxes paid. The ASU is effective on a prospective basis for annual periods beginning after December 15, 2024. Early adoption is also permitted for annual financial statements that have not yet been issued or made available for issuance. This ASU will result in the required additional disclosures being included in our consolidated financial statements, once adopted.

NOTE 4 – PROPERTY, PLANT AND EQUIPMENT

Property, plant and equipment consisted of the following at December 31, 2023 and December 31, 2022:

	March 31, 2024			December 31, 2023
	(Unaudited)			(Audited)
Computer		30,713			30,713
Furniture & Fixtures		56,978			56,978
HVAC		25,000			25,000
Land		17,703			17,703
Leasehold Improvements		32,304			32,304
Machinery and Equipment		55,067			55,067
Vehicle					24,000
Total		241,765			241,765
Less: Accumulated Depreciation		(217,847	)		(216,890	)
Property, Plant and Equipment - net	$	23,918		$	24,875

Depreciation expense totaled of $957 and $3,518 for the three months ended March 31, 2024 and March 31, 2023, respectively. Due to the sale of the farm in 2023, the Company removed net assets of $516,076 and recorded a gain of sale of the farm $177,883 for three months ended March 31, 2023.

NOTE 5 – NON-CURRENT ASSETS

Other assets consisted of the following at March 31, 2024 and December 31, 2023:

	March 31, 2024		December 31, 2023
Other receivable		10,797		11,047
Rent deposits		18,941		23,941
Security deposits		5,491		5,491
Total Non-current assets		35,229		40,479

During the three months ended March 31, 2024, our other receivables decreased $250, related to changes of currency exchange rate. The decrease of the rent deposit was primarily due to the Company terminated the lease of Oregan shop and $5,000 rent deposit was used to pay the rent.

NOTE 6 – ACCOUNTS PAYABLE AND ACCRUED EXPENSES

The accounts payable and accrued expenses consisted of the following at March 31, 2024 and December 31, 2023 :

	March 31, 2024		December 31, 2023
Accounts payable		573,771		561,551
Accrued expenses		29,964		27,534
Total		603,735		589,085

NOTE 7 – CONVERTIBLE DEBT

These debts have a price adjustment provision. Therefore, the Company accounted for these Notes under ASC Topic 815-15 “Embedded Derivative.” The derivative component of the obligation is initially valued and classified as a derivative liability with an offset to discounts on convertible debt. Discounts have been amortized to interest expense over the respective term of the related note. In determining the indicated value of the convertible note issued, the Company used the Binomial Options Pricing Model with a risk-free interest rate of ranging from 4.23% to 5.26%, volatility ranging from 125.53% to 177.42%, trading prices $0.0414 per share and a conversion price ranging from $0.033 to $0.08 per share. The total derivative liabilities associated with these notes were $3,488,082 at March 31, 2024 and $2,752,321 at December 31, 2023. As of March 31, 2024, the Company had two new convertible notes and two short-term non-convertible note were transferred to convertible notes after due in the first quarter of 2024.

See Below Summary Table

Schedule of Convertible Debt

Convertible Debt Summary
	Debt Type	Debt Classification		Interest Rate	Due Date	Ending
	Debt Type	CT	LT	Interest Rate	Due Date	3/31/2024	12/31/2023

A	Convertible	X		10.0%	1-Jan-17	25,000	$ 25,000
B	Convertible		X	8.0%	31-Dec-25	82,391	82,391
C	Convertible		X	8.0%	31-Dec-25	41,195	41,195
D	Convertible		X	8.0%	31-Dec-25	262,156	262,156
O	Convertible		X	8.0%	31-Dec-25	136,902	136,902
P	Convertible		X	8.0%	31-Dec-25	66,173	66,173
Q	Convertible		X	8.0%	31-Dec-25	65,274	65,274
S	Convertible		X	8.0%	31-Dec-25	63,205	63,205
T	Convertible		X	8.0%	31-Dec-25	313,634	313,634
CC	Convertible	X		10.0%	1-Jan-25	100,000	100,000
KK	Convertible		X	8.0%	31-Dec-25	188,000	188,000
LL	Convertible		X	8.0%	31-Dec-25	749,697	749,697
MM	Convertible		X	8.0%	31-Dec-25	124,690	124,690
NN	Convertible		X	8.0%	31-Dec-25	622,588	622,588
OO	Convertible		X	8.0%	31-Dec-25	620,908	620,908
PP	Convertible		X	8.0%	31-Dec-25	611,428	611,428
QQ	Convertible		X	8.0%	31-Dec-25	180,909	180,909
RR	Convertible		X	8.0%	31-Dec-25	586,804	586,804
SS	Convertible		X	8.0%	31-Dec-25	174,374	174,374
TT	Convertible		X	8.0%	31-Dec-25	345,633	345,633
UU	Convertible		X	8.0%	31-Dec-25	171,304	171,304
VV	Convertible		X	8.0%	31-Dec-25	121,727	121,727
XX	Convertible		X	8.0%	31-Dec-25	112,734	112,734
YY	Convertible		X	8.0%	31-Dec-25	173,039	173,039
ZZ	Convertible		X	8.0%	31-Dec-25	166,603	166,603
AAA	Convertible		X	8.0%	31-Dec-25	104,641	104,641
BBB	Convertible		X	8.0%	31-Dec-25	87,066	87,066
DDD	Convertible		X	8.0%	31-Dec-25	75,262	75,262
EEE	Convertible		X	8.0%	31-Dec-25	160,619	160,619
GGG	Convertible		X	8.0%	31-Dec-25	79,422	79,422
JJJ	Convertible		X	8.0%	31-Dec-25	52,455	52,455
LLL	Convertible		X	8.0%	31-Dec-25	77,992	77,992
MMM	Convertible		X	8.0%	31-Dec-25	51,348	51,348
PPP	Convertible		X	8.0%	31-Dec-25	95,979	95,979
SSS	Convertible		X	8.0%	31-Dec-25	75,000	75,000
TTT	Convertible		X	8.0%	31-Dec-25	80,000	80,000
VVV	Convertible		X	8.0%	31-Dec-25	75,000	75,000
WWW	Convertible		X	8.0%	31-Dec-25	60,000	60,000
XXX	Convertible		X	8.0%	31-Dec-25	100,000	100,000
YYY	Convertible		X	8.0%	31-Dec-25	50,000	50,000
ZZZ	Convertible		X	8.0%	31-Dec-25	40,000	40,000
AAAA	Convertible		X	8.0%	31-Dec-25	66,000	66,000
BBBB	Convertible	X		12.0%	1-Mar-23	-	150,000
CCCC	Convertible	X		10.0%	1-Mar-23	-	120,000
DDDD	Convertible	X		10.0%	31-Dec-24	-	100,000
EEEE	Convertible		X	10.0%	25-Dec-25	15,000	-
FFFF	Convertible		X	10.0%	23-Jan-26	60,000	-
GGGG	Convertible		X	10.0%	12-Mar-26	150,000	-
HHHH	Convertible		X	10.0%	15-Mar-26	107,500	-

Total Convertible Debt						7,769,652	7,807,152
Less: Discount						(108,944)	(387,819)
Convertible Debt, Net of Discounts						$ 7,660,708	$ 7,419,333
Convertible Debt, Net of Discounts, Current						$ 125,000	$ 240,288
Convertible Debt, Net of Discounts, Long-term						$ 7,535,708	$ 7,179,045

FOOTNOTES FOR CONVERTIBLE DEBT ACTIVITY FOR YEAR ENDED DECEMBER31, 2023

On February 28, 2023, the Company sold the Property for a price of $769,500, less commissions and customary closing costs. The net proceeds of the sale were used to repay the convertible notes described above, of which total principal was $370,000. On December 31, 2022, the Company and various noteholders agree to modify the maturity date to December 31,2025 of all notes that were due to mature on December 31, 2024. No other terms of the convertible notes were changed.

On January 23, 2024, the Company received $61,200 from selling 2.4 units to the Cayman Venture Capital Fund, including $60,000 convertible debt and 120,000 FDT shares at $0.01 per share and total value was $1,200 . Interest is stated at 10%. The Note and Interest is convertible into common shares at $0.08 per share. The Note is Due on January 23, 2026. This note has a price adjustment provision: if the stock price 20 days before the conversion notice proceeding is less than $0.16 per share, the conversion price should be adjusted to the less of: 50% of the average closing price or the historical price for the 20 trading days before proceeding the conversion notice, but in any event the conversion price should be not less than $0.04 per share or more than $0.08 per share Therefore, the Company accounted for these Notes under ASC Topic 815-15 “Embedded Derivative.” The derivative component of the obligation is initially valued and classified as a derivative liability with an offset to discounts on convertible debt. Discounts are amortized to interest expense over the respective term of the related note.

On January 31, 2024, the Company signed an agreement with a third-party individual to transfer one non convertible promissory note, including $15,000 principal and $300 accrual interest to purchase 0.6 unit, which included $15,000 convertible note and 30,000 FDT shares which is $0.01 per share and total value was $300. The convertible notes interest is stated at 10%. The Note and Interest is convertible into common shares at $0.08 per share. The Note is Due on January 31, 2026. This note has a price adjustment provision: if the stock price 20 days before the conversion notice proceeding is less than $0.16 per share, the conversion price should be adjusted to the less of: 50% of the average closing price or the historical price for the 20 trading days before proceeding the conversion notice, but in any event the conversion price should be not less than $0.04 per share or more than $0.08 per share Therefore, the Company accounted for these Notes under ASC Topic 815-15 “Embedded Derivative.” The derivative component of the obligation is initially valued and classified as a derivative liability with an offset to discounts on convertible debt. Discounts are amortized to interest expense over the respective term of the related note.

On March 12, 2024, the Company received $150,000 from selling 6 units to the Cayman Venture Capital Fund, including $150,000 convertible debt and 300,000 FDT shares which is $0.01 per share and total value is $3,000 . Interest is stated at 10%. The Note and Interest is convertible into common shares at $0.08 per share. The Note is Due on March 12, 2026. This note has a price adjustment provision: if the stock price 20 days before the conversion notice proceeding is less than $0.16 per share, the conversion price should be adjusted to the less of: 50% of the average closing price or the historical price for the 20 trading days before proceeding the conversion notice, but in any event the conversion price should be not less than $0.04 per share or more than $0.08 per share Therefore, the Company accounted for these Notes under ASC Topic 815-15 “Embedded Derivative.” The derivative component of the obligation is initially valued and classified as a derivative liability with an offset to discounts on convertible debt. Discounts are amortized to interest expense over the respective term of the related note.

On March 15, 2024, one of a promissory non-convertible notes was expired. The Company signed a purchase agreement with this third-party individual to purchase 4.3 units using the matured note, including $100,000 principal and $96,500 accrual interest. The 4.3 units included $107,500 convertible note and 215,000 FDT shares which is $0.01 per share and total value was $2,150. The convertible notes interest is stated at 10%. The Note and Interest is convertible into common shares at $0.08 per share. The Note is Due on March 31, 2026. This note has a price adjustment provision: if the stock price 20 days before the conversion notice proceeding is less than $0.16 per share, the conversion price should be adjusted to the less of: 50% of the average closing price or the historical price for the 20 trading days before proceeding the conversion notice, but in any event the conversion price should be not less than $0.04 per share or more than $0.08 per share. Therefore, the Company accounted for these Notes under ASC Topic 815-15 “Embedded Derivative.” The derivative component of the obligation is initially valued and classified as a derivative liability with an offset to discounts on convertible debt. Discounts are amortized to interest expense over the respective term of the related note.

NOTE 8 – NON-CONVERTIBLE DEBT

Schedule of Nonconvertible Debt

	March 31, 2024		December 31, 2023
Note 5	$	9,312	$	9,312
Note 6		500,000		500,000
Note 7		—		100,000
Note 8		—		15,000
Current non-convertible notes		9,312		124,312
Non-current convertible notes		500,000		500,000
Total non-convertible notes	$	509,312	$	624,312

(5) On September 16, 2016, the Company received a total of $31,661 to be used for equipment in exchange for a two year note in the aggregate amount of $31,661 with interest accruing at 18% per year and a 10% loan fee. The note is in default as of March 31, 2024 with an outstanding balance of $9,312.

(6) On June 12, 2023, the Company issued a 10% promissory note in the amount of $350,000 with 10% interest rate, payable to CVC International Ltd, secured by 10% of monthly total revenues from all sources of Kaya Holdings, Inc. and any of its subsidiaries. and the noteholder also received 10 Series A preferred shares in FDT, which are convertible into a total of 10% of the common shares. The due date of the note is June 12, 2025. At the end of September 2023, the company paid $5,000, which is 10% of the total revenues from all sources of Kaya Holdings, Inc to the Holder and the Holder agreed to reinvest it as the additional of the note. On October 6, 2023, the Company received another $145,000 from the same investor to increase the promissory note to $500,000 total.

(7) On August 28, 2023 the Company received $100,000 from the issuance of working capital loan to another investor. Interest is stated at 10%. The Note was matured on March 31, 2024 and the $100,000 principal and $9,650 accrual interest were transferred to $107,500 convertible note and $2,150 stocks of FDT.

(8) On December 15, 2023 the Company received $15,000 working capital loan from another investor. On January 31, 2024, the Company signed a purchase agreement with the investor to reclass the $15,000 principal to convertible note and $300 accrual interest to purchase 30,000 FDT shares.

B-Related Party
Loan payable - Stockholder, 0%, Due December 31, 2025 (1)	$	250,000	$	250,000
	$	250,000	$	250,000

(1)

The $250,000 non-convertible note was issued as part of a Debt Modification Agreement dated January 2, 2014. On January 1, 2019, the holder of the note extended the due date until December 31, 2021. The interest rate of the non-convertible note is 0%. The Company used the stated rate of 9% as imputed interest rate, which was $73,110 and $67,500 for the three months ended March 31, 2024 and year ended December 31, 2023, respectively. As of March 31, 2024, the balance of the debt was $250,000. On December 31, 2021, the Company entered into an agreement to further extend the debt until December 31, 2025, with no additional interest for the extension period.

NOTE 9 – STOCKHOLDERS’ EQUITY

The Company has 10,000,000 shares of preferred stock authorized with a par value of $0.001, of which 100,000 shares have been designated as Series C convertible preferred stock (“Series C” or “Series C preferred stock”). The Company has 10,000,000 shares of preferred stock authorized. The Board has the authority to issue the shares in one or more series and to fix the designations, preferences, powers and other rights, as it deems appropriate.

Each share of Series C has 434 votes on any matters submitted to a vote of the stockholders of the Company and is entitled to dividends equal to the dividends of 434 shares of common stock. Each share of Series C preferred stock is convertible at any time at the option of the holder into 434 shares of common stock.

Pursuant to the terms and conditions of this Agreement, the Holders each agreed to (a) waive payment of approximately $338,000 of Accrued Compensation; (b) defer payment of the remaining balance of Accrued Compensation owed to each of them of approximately $250,000 until January 1, 2025 ; and (c) exchange the 50,000 Series C Shares ( at total of 100,000) for twenty (20) Series D Convertible Preferred Shares of Kaya Holdings Stock. Mr. Frank’s Series D shares were issued to Mr. Frank and the Series D shares issued for the option held by BMN were issued to RLH Financial Services pursuant to a private sale between BMN and RLH whereby RLH acquired the shares in exchange for a promissory note in the amount of $1,000,000.

Each Share of 40 Series D Preferred Stock is convertible, at the option of the holder thereof, at any time and from time to time, into one percent (1%) of the Company’s Fully Diluted Capitalization as of the Conversion Date. This resulted in a related party gain of $559,058.

The Company has 500,000,000 shares of common stock authorized with a par value of $0.001. Each share of common stock has one vote per share for the election of directors and all other items submitted to a vote of stockholders. The common stock does not have cumulative voting rights, preemptive, redemption or conversion rights.

The Company sold 665,000 shares of FDT as of March 31, 2024 for $6,650. It doesn’t affect the control right of the Company.

As of March 31, 2023, there were 22,172,835 shares of common stock outstanding and 163,630,000 shares subscription payable which total was 185,802,835 shares and no new issuances of common stock during the three months ended March 31, 2024.

NOTE 10 – DERIVATIVE LIABILITIES

Effective January 1, 2019, an equity-linked financial instrument with a down round feature that otherwise is not required to be classified as a liability under the guidance in Topic 480 is evaluated under the guidance in Topic 815, Derivatives and Hedging, to determine whether it meets the definition of a derivative. If it meets that definition, the instrument (or embedded feature) is evaluated to determine whether it is indexed to an entity’s own stock as part of the analysis of whether it qualifies for a scope exception from derivative accounting. Generally, for warrants and conversion options embedded in financial instruments that are deemed to have a debt host (assuming the underlying shares are readily convertible to cash or the contract provides for net settlement such that the embedded conversion option meets the definition of a derivative), the existence of a down round feature results in an instrument not being considered indexed to an entity’s own stock. This results in a reporting entity being required to classify the freestanding financial instrument or the bifurcated conversion option as a liability, which the entity must measure at fair value initially and at each subsequent reporting date.

However, due to a recognition of tainting, due to variable conversion price on some of the convertible notes, all convertible notes are considered to have a derivative liability, therefore the Company accounted for these Notes under ASC Topic 815-15 “Embedded Derivative.” The derivative component of the obligation is initially valued and classified as a derivative liability with an offset to discounts on convertible debt. Discounts are amortized to interest expense over the respective term of the related note. In determining the indicated value of the convertible note issued, the Company used the Binomial Options Pricing Model with a risk-free interest rate of ranging 4.59% to 5.38%, volatility ranging from 125.53% to 177.42%, trading prices ranging from $0.0414 per share and a conversion price ranging from $0.033 to $0.08 per share. The total derivative liabilities associated with these notes were $3,488,082 at March 31, 2024 and $2,752,321 at December 31, 2022.

As a result of the application of ASC No. 815, the fair value of the ratchet feature related to convertible debt is summarized as follow:


Balance as of December 31, 2023	$	2,752,321
Change in Derivative values		621,921
Initial derivative		113,840
Balance as of March 31, 2024	$	3,488,082

The Company recorded the debt discount to the extent of the gross proceeds raised and expensed immediately the remaining fair value of the derivative liability, as it exceeded the gross proceeds of the note.

The Company recorded initial derivative liabilities of $113,840 and $0 for the new notes issued as of March 31, 2024 and December 31, 2023, respectively.

The Company recorded a change in the value of embedded derivative liabilities loss of $621,921 as of March 31, 2024 and a gain of $3,297,215 for the year ended December 31, 2023.

The Company reclassified derivative liabilities of $0 to additional paid in capital due to debt repayments for the three months ended March 31, 2024 and $155,342 for year ended December 31, 2023

NOTE 11 – DEBT DISCOUNT

Debt discount amounted to $108,944 and $742 as of December 31, 2023 and 2022, respectively.

The Company recorded the amortization of debt discount of $5,638 and $181,543 for the three months ended March 31, 2024 and 2023, respectively.

NOTE 12 – RELATED PARTY TRANSACTIONS

At December 31, 2014, the Company was indebted to an affiliated shareholder of the Company for $840,955, which consisted of $737,100 principal and $103,895 accrued interest, with interest accruing at 10%. On January 2, 2014, the Company entered into a Debt Modification Agreement whereby the total amount of the debt was reduced to $750,000 and no interest accrued until December 31, 2015. $500,000 of the debt is convertible into 50,000 Series C Convertible Preferred Shares of KAYS. The remaining $250,000 is not convertible.

In 2019, the Company entered into amended consulting agreements with Tudog International Consulting, Inc. which provides CEO services to the Company through Craig Frank, an Officer of the Company and BMN Consultants, Inc. which provides business development and financial consulting services to the Company through William David Jones, a non-officer Consultant to the Company. Pursuant to the amended consulting agreements, each entity is entitled to monthly compensation of $25,000. Due to the liquidity of the Company, the compensations were paid partially over the periods. As of March 31, 2024, the accrued compensation was approximately $500,000. By agreement of the parties, the accrued compensation will not be paid until January 1, 2025 and has been recorded as a long-term liability . As of March 31, 2024, the Company also had $471,773 of accrued compensation due to Tudog International Consulting, Inc. and BMN Consultants, Inc.

On July 28, 2021 the Company announced that all terms had been satisfied. Pursuant to the terms of the settlement, Bruce Burwick surrendered to KAYS 1,006,671 shares of our common stock issued to him in connection with the transaction (800,003 shares which were issued for the facility purchase, 166,667 shares which were issued for $250,000 in cash and 40,001 shares which were issued as annual compensation for Burwick serving as a director of KAYS). The shares have been submitted to KAYS' transfer agent for cancellation. In addition, the Company received clear title to the warehouse facility, which enables the Company to sell it without restriction. As part of the settlement, Burwick received $160,000 from the net proceeds of the sale of the facility's grow license to an unrelated third party, resigned from the Company's board of directors and agreed to work as a non-exclusive consultant to the Company for the next four years for a yearly fee of $35,000.00. As of March 31, 2024, the Company had $138,227 due to Bruce.

In 2023, The Tudog Group, BMN Consultants, Inc, Inc and 495 Oxford Consulting, Inc which all provide services to the Company through Craig Frank and William David Jones, forgiven totally $38,329 of payable expense. The payable forgiveness were recorded as Additional paid in capital.

NOTE 13 – STOCK OPTION PLAN

On September 15, 2022 the Company approved the 2022 Equity Incentive Plan, which provides for equity incentives to be granted to the Company’s employees, executive officers or directors or to key advisers or consultants. Equity incentives may be in the form of stock options with an exercise price not less than the fair market value of the underlying shares as determined pursuant to the 2022 Incentive Stock Plan, restricted stock awards, other stock based awards, or any combination of the foregoing. The 2022 Incentive Stock Plan is administered by the board of directors. The remaining balance of the shares available in the plan is 450,000 shares.

NOTE 14 – WARRANTS

On September 8, 2015 the Company received a total of $100,000 from an accredited investor in exchange for a two year note in the aggregate amount of $100,000 with interest accruing at 10%. The note holder is entitled to subscribe for and purchase from the company 210,772 paid and non-assessable post -reverse split shares of the Common Stock at the price of $0.4744455 per post-reverse split share (the “Warrant Exercise Price”) for a period of five (5) years commencing from the earlier of such time as that certain $100,000, 10% promissory note due September 9, 2017 has been fully repaid or the start of the Acceleration Period as defined in “The Note” or September 9, 2017. As of December 31, 2019, the note was paid in full. As of December 31, 2023, the warrants have expired.

On September 9, 2015 the Company received a total of $100,000 from an accredited investor in exchange for a two year note in the aggregate amount of $100,000 with interest accruing at 10%. The note holder is entitled to subscribe for and purchase from the company 210,772 paid and non-assessable post-reverse split shares of the Common Stock at the price of $0.4744455 per post-reverse split share (the “Warrant Exercise Price”) for a period of five (5) years commencing from the earlier of such time as that certain $100,000, 10% promissory note due September 9, 2017 has been fully repaid or the start of the Acceleration Period as defined in “The Note” or September 9, 2017. As of December 31, 2019, the note was paid in full. As of December 31, 2023, the warrants have expired.

On May 9, 2016 the Company received a total of $75,000 from an accredited investor in exchange for a two year note in the aggregate amount of $75,000 with interest accruing at 10%. The note holder is entitled to subscribe for and purchase from the company 158,079 paid and non-assessable post-reverse split shares of the Common Stock at the price of $0.4744455 per post-reverse split share (the “Warrant Exercise Price”) for a period of five (5) years commencing from the earlier of such time as that certain $75,000, 10% promissory note due May 9, 2018 has been fully repaid or the start of the Acceleration Period as defined in “The Note” or May 9, 2018. As of December 31, 2019, the note was paid in full. As of December 31, 2023, the warrants have expired.

On May 17, 2016 the Company received a total of $75,000 from an accredited investor in exchange for a two year note in the aggregate amount of $75,000 with interest accruing at 10%. The note holder is entitled to subscribe for and purchase from the company 158,079 paid and non-assessable shares of the Common Stock at the price of $0.4744455 per share (the “Warrant Exercise Price”) for a period of five (5) years commencing from the earlier of such time as that certain $75,000, 10% promissory note due May 17, 2018 has been fully repaid or the start of the Acceleration Period as defined in “The Note” or May 17, 2018. As of December 31, 2019, the note was paid in full. All warrants were expired as of December 31, 2023.

Warrants issued to Non-Employees

Schedule Of Warrants

	Warrants Issued	Weighted Average Exercise Price	Weighted Average Contract Terms Years
Balance as of December 31, 2022	316,158	0.4744455	0.36
Granted	-	-	-
Exercised	-	-	-
Expired	(316,158)	-	-
Balance as of December 31, 2023	-	-	-

NOTE 15 – COMMITMENTS AND CONTINGENCIES

Operating Leases

The Company has several operating leases for an office in Fort Lauderdale, Florida and four retail store locations in Oregon under arrangements classified as leases under ASC 842.

Effective June 1, 2019, the Company leased the office space in Fort Lauderdale, Florida under a 2-year operating lease expiring May 31, 2021 at a rate of $1,802 per month. On June 1, 2021 the lease was extended for another year and on June 1 in 2022 the lease was extended for an additional year. The current monthly payment inclusive of sales tax and operating expenses is $2,136 with right of use liabilities of $18,722. The lease was terminated on May 30, 2023. On October 1, 2023, the lease was extended for another year.

Effective May 15, 2014, the Company leased a unit in Portland, Oregon under a 5-year operating lease expiring May 15, 2019. In May 2019, the lease had been extended to April 30, 2024. The total amount of rental payments due over the lease term is being charged to rent expense according to the straight-line method over the term of the lease. In February 2024, the landlord and the Company agreed to terminate the lease and the Company own $8,650 rent after $5,000 against the rent deposit. As of March 31, 2024, right of use liabilities and right of use assets are all $0.

On September 21, 2023, the Company executed a lease for approximately 11,000 square feet of space in Portland, OR for its psilocybin business. The space takes up the entire seventh floor of commercial building which has floor to ceiling windows offering sweeping views of the Portland Skyline, and has an existing substantial kitchen/ café area that the Company intends to utilize for a “Microdosing Café” concept, as well as already constructed rooms that the Company intends to utilize for individual and group Psilocybin sessions. The lease is for one year with option for an additional two years, if all conditions are met. The lease does not commence until such time as the Company has received notice of OHA Psilocybin Service Center License approval for the location.

The Company has escrowed $51,817.75 with an Oregon-licensed attorney in Oregon (“Escrow Holder”) pursuant to an escrow agreement between Tenant, Landlord and the Escrow Holder, of which $38,893.75 (the “Prepaid Rent”) is prepaid Base Rent and Additional Rent for months 1 through 5 of the Term and $12,925 is the Security Deposit (defined below). Tenant shall pay all fees charged by the Escrow Holder for holding the Prepaid Rent and Security Deposit pursuant to the escrow agreement. The Prepaid Rent and Security Deposit shall be released to Landlord promptly upon Lease Commencement. Tenant shall promptly execute any documents required by Escrow Company for such release upon Lease Commencement

The Company utilizes the incremental borrowing rate in determining the present value of lease payments unless the implicit rate is readily determinable. The Company used an estimated incremental borrowing rate of 9.32% to estimate the present value of the right of use liability.

The Company has right-of-use assets of $12,585 and operating lease liabilities of $12,704 as of March 31, 2024. Operating lease expenses for the three months ended March 31, 2024 and 2023 were $29,315 and $14,808, respectively. The big changes were due to the termination of the Oregon lease.

Maturity of Lease Liabilities at March 31, 2024		Amount
	2024		13,053
	2025		—
	Total lease payments		13,053
	Less: Imputed interest		(349	)
	Present value of lease liabilities	$	12,704

Lessee, Operating Lease, Liability

Leased assets

Operating Lease Liability

As of March 31, 2024

Remaining months

Weighted average

remaining term

KAYA

12,704

Total

12,704

Note 16 - SUBSEQUENT EVENTS

Events that occur after the balance sheet date but before the financial statements were available to be issued must be evaluated for recognition or disclosure. The effects of subsequent events that provide evidence about conditions that existed at the balance sheet date are recognized in the accompanying financial statements. Subsequent events, which provide evidence about conditions that existed after the balance sheet date, require disclosure in the accompanying notes.

On May 1, 2024 the Company received an additional $130,000 in capital from CVC as part of a private placement.

On April 25, 2024 the Company received notice from the OHA that its license had been approved.

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

Business Overview

PART I

Item 1. Business.

Overview

Kaya Holdings, Inc is a holding company focusing on wellness and mental health through operations in psychedelic treatment clinics, medical and recreational cannabis, and CBD products.

In 2014, KAYS became the first US public company to own and operate a medical cannabis dispensary in the United States and is again breaking ground with the planned opening of The Sacred Mushroom™ Psychedelic Treatment Center. KAYS plans to operate The Sacred Mushroom™ as part of its Fifth Dimension Therapeutics, Inc. subsidiary (“FDT”), which also plans to work cooperatively with select pharmaceutical companies to maximize the curative and therapeutic potential of psilocybin.

KAYS has approximately ten years of operational experience as a vertically integrated legal cannabis enterprise and is the first U.S. publicly traded company to operate a legal marijuana dispensary, as well as the first to vertically integrate by adding cultivation and manufacturing. During the last ten years of cannabis operations the Company has produced, distributed, and/or sold a full range of premium cannabis products including flower, oils, vape cartridges and cannabis infused confections, baked goods and beverages through a fully integrated group of subsidiaries and companies supporting highly distinctive brands. However, in late 2019 the Company determined that US Federal cannabis legalization was not something that would come to fruition anytime soon and began to explore overseas opportunities for cannabis operations. In addition, we also began looking at opportunities within the pending legalization of Psilocybin treatments and their potential therapeutic value for treatment-resistant mental health disorders.

In November 2020, Oregon became the first state in the United States to legalize and license the supervised use of psilocybin, and in January 2023 they began accepting licensing applications for Oregon Health Authority (the “OHA”) State Licensed Psilocybin Facilitators (OHA licensed professionals to operate the clinics) and also licensing for Manufacturing, Testing and the Facilitation clinics where clients can obtain Psilocybin Treatment Services. The OHA had also launched Oregon’s medical cannabis program in 2014, giving KAYS critical experience in comprehending and complying with OHA mandates, and sets the stage for KAYS “First Mover Advantage” in the emerging US psychedelic therapeutics industry.

On November 14, 2023, the Company filed a license application with the OHA for the licensure of The Sacred Mushroom™, an approximately 11,000 square foot psychedelic treatment center located in Portland, Oregon which the Company intends to operate as its flagship psychedelic treatment facility. On April 25, 2024 the Company received notice from the OHA that its license had been approved and we are targeting June 1, 2024 (or sooner) for our initial commencement of operations. It is our understanding is that we are the first US Public Company to own and operate a US based licensed Psychedelic Treatment Facility.

Our Psychedelic Treatment Facility Plan and KAYS Fifth Dimension Therapeutics, Inc. Subsidiary

On December 13, 2022 the Company formed Fifth Dimension Therapeutics ™ (“FDT”) to seek to provide psychedelic "mind care" treatments to veterans suffering from PTSD, addicts seeking to break addiction, individuals with eating disorders, and others with a wide array of treatment resistant mental health disorders.

On January 3, 2023 the OHA began to accept license applications, allowing each entity to own and operate one (1) Psilocybin manufacturing and processing facility for the production of Psilocybin Mushrooms and derived therapeutics (“Psilocybins”), and up to five (5) Psilocybin Facilitation Centers where clients would go to ingest Psilocybins and experience effects under the supervision of State Licensed Facilitators. The OHA had also launched Oregon’s medical cannabis program in 2014, giving KAYS critical experience in comprehending and complying with OHA mandates. The psilocybin opportunity is a logical extension for Kaya Holdings. The purpose, customer, regulations, and operations, as well as our familiarity with Oregon regulators, are synergistic with our current mission, and can be leveraged within our current operational infrastructure. We anticipate being able to respond to market demand rapidly, upon licensing. The licenses issued in Oregon are the first ever State Legal Licensing of Psilocybin Manufacturing and Treatment Centers, and KAYS is positioned to be first in line due to its operating history in Oregon.

On January 25, 2023 attorney Glenn E.J. Murphy became a founding member of the FDT Board of Directors. Mr. Murphy has agreed to assist FDT with introductions to pharmaceutical companies seeking data and access to psychedelic patients, as well as advising on the development of intellectual property, structure of potential joint ventures, funding opportunities, acquisitions, and other related endeavors. With more than 25 years of experience in corporate legal practice (including both ten years in-house with the Henkel Group and more than 15 years in private practice), Mr. Murphy’s experience has touched on most every aspect of intellectual property practice.

On March 13, 2023, Bryan Arnold (one of KAYS Vice Presidents and its longest serving Oregon Employee) completed his OHA Certified Psilocybin Education through the Changra Institute and became one of the first eighteen graduates to obtain Psilocybin Facilitator certification in the State of Oregon. Bryan’s Facilitation License application has been approved by the OHA, and he now may oversee up to five (5) Psilocybin Treatment Facilities and up to one (1) Psilocybin Production Facility. Additionally, the Company expects to enroll additional potential licensee candidates within the coming months to bolster its ranks of OHA Licensed Psilocybin Facilitators as it moves forward with plans to open its first Psychedelic Treatment Center, subject to completion of financing and regulatory approvals.

On November 14, 2023 the Company filed a license application with the OHA for the licensure of The Sacred Mushroom™, an approximately 11,000 square foot psychedelic treatment center located in Portland, Oregon which the Company intends to operate as its flagship psychedelic treatment facility. On April 25, 2024 the Company received notice from the OHA that its license had been approved and we are targeting June 1, 2024 (or sooner) for our initial commencement of operations. It is our understanding is that we are the first US Public Company to own and operate a US based licensed Psychedelic Treatment Facility.

The Science of Psilocybin and Treatment Resistant Mental Health Issues

Growing evidence suggests that psychedelics act on the brain’s default network, or those regions of the brain that remain active when your brain is not engaged in active tasks. The default network provides a “framework” for the brain’s activity, providing structure and making order of all that is happening in the cortex and keeping external neurological information (delivered via our senses) distinct from internally generated activity (thoughts, emotions, and memory).

Psychedelics seem to suppress the default network, relaxing the separation of our senses, memories, thoughts, and emotions, and enabling each to influence each other more easily. This ability to break down the brain’s “framework” has led to a focus on psychedelics as a groundbreaking opportunity to address a wide range of mental health disorders.

Psilocybin, a naturally occurring compound found in “magic mushrooms”, is one of an emerging class of psychedelic medicines that contain potent psychoactive chemicals that can serve to affect human perception, emotions, and other cognitive functions. Psychedelic medicines have been found to have ground-breaking potential in treating a range of physical and mental disorders including anxiety and panic disorder, resistant depression, opiate addiction, adult attention deficit hyperactivity disorder (“ADHD”), post-traumatic stress disorder (“PTSD”), and acute and chronic pain.

A 2020 study in the Journal of the American Medical Association Psychiatry found that 71% of the patients with severe, previously treatment-resistant depression, showed “clinically significant improvement” that lasted at least four weeks and with “low potential” for addiction after treatment with Psilocybin. Speaking on the study one of the study’s co-authors, Alan Davis, a neuroscience researcher at Ohio State University and adjunct professor at the Johns Hopkins Center for Psychedelic and Consciousness Research stated, “I would say at this stage the research is showing that in safe settings, this provides relief from debilitating mental health problems for some people.”

It is estimated that approximately 46.5 million American adults (18%) battle an anxiety disorder such as Post Traumatic Stress Disorder (PTSD) and Panic Disorders, 24.5 million American adults (9.5%) suffer from depressive illness (with someone committing suicide every 40 seconds), 17.3 million American adults (6.7%) have been diagnosed with Alcohol Use Disorder, 18.3 million American adults (7.1%) are considered drug dependent, and 11.4 million American women (8.5%) and 3 million American men (2.5%) struggle with an eating disorder. All of these difficult to treat mental health disorders have been shown by research to be aided by psychedelic treatment.

Companies such as Compass Pathways, ATAI Life Sciences, and Cybin are engaged in developing synthetic versions of psilocybin and psilocin (the active ingredient in “magic mushrooms”) to offer as breakthrough therapies for treatment resistant mental health disorders. As a “Delivery of Treatment” provider, it is expected that The Sacred Mushroom™ and similar facilities will be the safe environment needed for these emerging pharma-based psychedelic treatments. As these companies endure the costly, time consuming, and unpredictable path to FDA approval, we believe that The Scared Mushroom will establish its position as a leader in the delivery of psychedelic care, offering more immediate relief for people with pressing mental health conditions.

The Sacred Mushroom™ Psychedelic Treatment Facility

The Sacred Mushroom™ (TSM), currently under development in Portland, Oregon, is the Company’s expertly crafted Psychedelic Treatment Facility. TSM provides guests access to psilocybin treatments in a spacious, comfortable, carefully controlled environment under licensure by the OHA (OHA).

The Sacred Mushroom™ is seven floors above the city of Portland, with panoramic views of the city skyline and Mount Hood. The Sacred Mushroom™ has approximately 11,000 sq ft. and will provide guests with access to private treatment rooms, group session areas, and activity zones with movement, listening stations, journaling chairs, and art expression for distinctive, effective, and positive psilocybin treatments. The setting and space are designed to deliver the ultimate in safe, comfortable, and relaxing psychedelic treatments.

Industry Treatment Models

A recently published report on psilocybin treatment prices in Oregon showed that initial prices for one facility range from $300 for a group microdose session to $3,500 for an individual high-dose session, with another facility pricing first-time full dose treatments at $15,000 (these prices do not include the cost of the psilocybin, which can run from $300 to $500).

KAYS expects its facility to offer a superior setting, broader activity and treatment options, integrated cultivation and processing, and accessible pricing, thereby enabling us to deliver a superior treatment experience at a much lower price than the competition, while still achieving profitability

View from The Sacred Mushroom™ - Mount Hood can be seen

above the Portland, Oregon skyline from our 7^th floor facility.

$840,000+ Institutional Investment in Fifth Dimension Therapeutics Project and Kaya Holdings

In 2023 the Company received a total of $500,000 as a working capital loan from CVC International LTD. (“CVC”), an institutional investor that has provided substantial fundings to the Company over the past ten years. The debt carries an interest rate of 10% annually.

In Q-1 2024 the Company received approximately $210,000 in additional capital from CVC ($61,200 on January 23, 2024 and $150,000 on March 12, 2024).

Additionally, on May 1, 2024 the Company received an additional $130,000 in capital from CVC as part of a private placement.

The Global Psilocybin and Psychedelic Medicine Industry

Insight Ace Analytic, an industry research firm, reports that the global psychedelic therapeutics market was valued at US$ 3.61 billion in 2021, and estimates the market will reach US$ 8.31 billion by 2028, with a CAGR of 13.2% during the forecast period of 2022-2028. Other market estimates include the research firm Research & Markets’ estimate that the psychedelic drugs market will reach US$ 10.75 billion by 2027.

As reported in the Wall Street Journal, Venture Capitalist Brom Rector of Empath Ventures sees Psychedelics as … “a traditional biotech play, with a high probability of failure but a potential upside of 10, 20, maybe 50 times.” Additionally, he sees many of the infrastructure companies for the industry as having a lot higher probability of becoming cash flow positive.

While Oregon is currently the only State that has legalized Psilocybin for medical use with a regulatory framework in place to issue licenses for their manufacture and sale, Denver Colorado, Santa Cruz and Oakland, California, Ann Arbor, Michigan, Washington D.C., and Seattle, Washington have all decriminalized small quantities. Other activity in the U.S. include:

The Connecticut legislature has begun the process toward legalizing Psilocybin centers for the treatment of veterans. Many veterans’ groups are advocating making psychedelic treatments available for veterans, particularly those with PTSD.

Texas, Utah, Maryland, and Washington State have set up task forces to study the medical use of psilocybin and have funded research to explore the effects of psilocybin on certain mental health conditions.

Colorado and California have ballots initiatives pending that would legalize psilocybin.

The New Jersey senate is considering a bill that would legalize psilocybin to treat certain disorders.

Internationally:

The Canadian government has been sued by an advocate group to force the legalization of psilocybin and other psychedelics.

Australia’s medicines regulator, the Therapeutic Goods Administration, has down-scheduled MDMA and Psilocybin

for controlled clinical used as part of psychotherapy in clinical settings.

Psilocybin is legal to possess, sell, transport, and cultivate in Bahamas, Jamaica, Brazil, Nepal, Netherlands

(only as a truffle), and Samoa. Possession of psilocybin is legal in Austria, British Virgin Islands, Spain, and Portugal.

Cannabis Operations

Kaya™ Family of Brands

During the last 10 years of cannabis operations the Company has produced, distributed, and/or sold a full range of premium cannabis products including flower, oils, vape cartridges and cannabis infused confections, baked goods and beverages through a fully integrated group of subsidiaries and companies supporting highly distinctive brands.

Kaya Farms™ Cannabis

The Company has developed its own proprietary Kaya Farms™ strains of cannabis, which it has grown and produced at the various medical and recreational grows that the Company has previously operated and maintained over the past ten years in Oregon. Additionally, KAYS has produced a full line of cannabis concentrates and extracts which it has initially produced through third party manufacturers and marketed at the Kaya Shack Stores, along with the very popular Kaya Buddies line of strain specific cannabis cigarettes.

The Company currently maintains an extensive genetic library of seeds for top strains of cannabis that it has assembled from its own grow operations and other commercial sources which it intends to utilize to launch international grow operations in Greece and elsewhere.

Kaya Buddie™ Strain Specific Cannabis Cigarettes

In 2016 the Company introduced a signature line of strain-specific pre-rolled cannabis cigarettes branded as “Kaya Buddies™”. Kaya Buddies™ cannabis cigarettes have been very well received by medical patients and recreational users. The brand, marketed under the tagline “Buds with Benefits”, features over 50 different strains of high quality cannabis and proprietary specialty blends.

Kaya Brands International

In 2019 KAYS formed Kaya Brands International, Inc. (“Kaya International” or “KBI”), to leverage its experience and expand into worldwide cannabis markets. KBI’s current initiative includes Greece, with additional areas under consideration.

Kaya Farms Greece

We have selected Greece as the center of our European market activity because of its amenable cannabis regulations, favorable climate, affordable, capable workforce, and the country’s position as a major pharmaceutical center in Europe. As an EU nation Greece opens up the entire European market (where legal) to KAYS flower and oils, and as permitted, the KAYS portfolio of brands.

On January 11, 2021, through a majority owned subsidiary of KBI, Kaya Farms Greece (or “KFG”) and Greekkannabis (“GKC”, an Athens based cannabis company) executed an agreement for KBI to acquire 50% of GKC. The first 25% was acquired in January, 2021 and the remaining 25% was acquired in July, 2021. GKC’s projects include two medical cannabis cultivation and processing projects in Greece- one in Epidaurus, Greece and the other in Thebes, Greece.

GKC has a development license from the Greek authorities that was originally issued as part of a plan purchase and develop 15 acres in Thebes, Greece as a large-scale cultivation production and processing project. However, GKC has elected to hold off on acquiring the land until such time as European cannabis demand warrants the investment required to develop the project.

Additionally, on November 8, 2021 KAYS/KBI through a majority owned subsidiary of KBI (Kaya Farms Greece or “KFG”) executed an agreement to acquire 50% of Greekkaya, a second medical Cannabis in Epidaurus, Greece.

Kaya Kannabis- Epidaurus, Greece Project

Site of Epidaurus Land

GKC plans to cultivate and manufacture KAYS proprietary cannabis brands (CBD/THC) from the Epidaurus Project for distribution in the Greek, German and other EU markets as permitted by local regulations.

Interior View- KAYS’ Epidaurus Project with 50K square feet of already constructed buildings.

The Epidaurus Project consists of 2 connected industrial buildings (already constructed, approximately 50,000 square feet in total under-air space) situated on 2.8 acres of land, with its own independent industrial electrical power center and ample water supply to service the needs of the facility. The Epidaurus Project will include 25,000 square feet of indoor cannabis cultivation, a 15,000 square foot EU-GMP extraction and processing facility, and a 10,000 square foot EU-GMP packing area. There is ample room for expansion with room to construct an additional 15,000 square feet on site. The joint venture is awaiting project financing and final license approval from Greek government authorities.

Neither of the two subject Greece properties are currently owned or optioned by GKC or its operating subsidiaries, but the land for the potential project in Epidaurus is owned by one of our Greek partner’s families and the land in The bes is currently available for purchase or option. The Company believes it could acquire either of the properties once funding and market conditions allow. Alternatively, both licenses are in good order, and can be transferred to a new location pending Greek Government approval.

Sale of Lebanon, Oregon Farm Property and Salem, Oregon Cannabis Dispensary

On February 28, 2023 the Company concluded the sale of a a 26-acre parcel in Lebanon, Linn County, Oregon that it had previously purchased for $510,000 as part of our focus on moving our cannabis operations overseas. We sold the Property for a price of $769,500, less commissions and customary closing costs and repayment of loans against the transaction. After such repayments, the Company realized net proceeds of approximately $302,000.

On April 21, 2023 the Company concluded the sale of its Salem Retail Cannabis Store (“Store 2”) for $210,000, less a 6% closing commission and minor closing expenses. After these expenses and paying $75,000 to resolve three non-performing store leases in South Oregon, the Company netted $118,900.

The Company utilized the net proceeds of approximately $420,000 from both the sale of the Property and Store 2, for general working capital including the development of its planned Oregon psilocybin business and development of its international projects.

Closure of Portland, Oregon Cannabis Dispensary

On March 11, 2024, we notified the Oregon Liquor Control Commission (the “OLCC”) that we were temporarily closing our Cannabis Retail Dispensary in Portland, Oregon as we evaluate redeploying our remaining cannabis dispensary license to serve as a delivery hub for Portland residents, tourists and The Sacred Mushroom™ guests, among others. We made this move so as to concentrate on the opening of the Sacred Mushroom Psychedelic Treatment Center and intend to explore additional cannabis opportunities as new markets develop.

The Global Cannabis Industry

The global cannabis market is being driven by the increasing number of countries passing legislation to decriminalize the use of cannabis and legalize cannabis for medicinal use. This change in legislation is the result of an increase in public awareness to the medicinal benefits of cannabis and greater social acceptance of cannabis use. According to Statista, cannabis is expected to reach a legal market of 74 billion USD by 2029, for a CAGR of 3.01%.

Prohibition Partners, expects the North American market to remain the world’s largest until 2023, when they expect North American ($17.7 billion) to outpace Europe ($16.8 billion). By 2024, with a forecasted global market of $103.9 billion, Europe is expected to outperform North America $39.1 billion to $37.9 billion.

Of the $103.9 billion global cannabis market forecasted by Prohibition Partners, $62.7 billion is expected to be medical cannabis driven. Of this $62.7 billion, Europe is expected to be the largest market, with $22.3 billion, followed by North America with $20.2 billion.

Greece

In September 2017, the Greek government announced it would be legalizing medical cannabis, and less than a year later Greek leaders approved Law 4523 and Joint Ministerial Decision No. 51483, which permitted farming and production of medical cannabis. In 2020 the Greek Parliament passed legislation that further relaxed cannabis export regulations, now permitting the bulk export of cannabis flower.

Government Regulation

We are subject to general business regulations and laws, as well as regulations and laws directly applicable to our operations. As we continue to expand the scope of our operations, the application of existing laws and regulations could include matters such as pricing, advertising, consumer protection, quality of products, and intellectual property ownership. In addition, we will also be subject to new laws and regulations directly applicable to our activities.

While the State of Oregon has created a regulatory framework through the Oregon Health Authority (OHA) that allows for the administration of psilocybin to clients in OHA Licensed Psilocybin Treatment Facilities, the use and possession of Psilocybin is currently illegal under Federal Law.

Any existing or new legislation applicable to us could expose us to substantial liability, including significant expenses necessary to comply with such laws and regulations, which could hinder or prevent the growth of our business.

Federal, state and local laws and regulations governing legal recreational and medical marijuana use are broad in scope and are subject to evolving interpretations, which could require us to incur substantial costs associated with compliance. In addition, violations of these laws or allegations of such violations could disrupt our planned business and adversely affect our financial condition and results of operations. In addition, it is possible that additional or revised federal, state and local laws and regulations may be enacted in the future governing the legal marijuana industry. There can be no assurance that we will be able to comply with any such laws and regulations and its failure to do so could significantly harm our business, financial condition and results of operations.

Our foreign operations will also be subject to comparable government regulation in Greece and any other various foreign jurisdictions in which KAYS intends to operate.

Competition

The legal marijuana sector is rapidly growing and the Company faces significant competition in the operation of retail outlets and grow facilities. Many of these competitors will have far greater experience, more extensive industry contacts and greater financial resources than the Company. There can be no assurance that we can adequately compete to succeed in our business plan.

The legal psychedelic medicine sector is rapidly growing, and while the industry is at a much earlier stage than cannabis, the Company will also face significant competition in the operation of retail outlets and grow facilities. Many of these competitors will have far greater experience, more extensive industry contacts and greater financial resources than the Company. There can be no assurance that we can adequately compete to succeed in our business plan.

Employees

As of the date as of this Report, our Oregon operations have 2 full-time employees, consisting of Chad Craig, the Senior Vice President of Oregon Operations and Bryan Arnold, Vice President of KAYS Subsidiary Fifth Dimension Therapeutics, Inc. and Lead Facilitator of the Sacred Mushroom Psychedelic Treatment Center. Additionally, we engage several consultants to assist with daily duties and business implementation and execution. Additional employees will be hired and other consultants engaged in the future as we execute our business plan.

Results of Operations

Three months ended March 31, 2024 compared to three months ended March 31, 2023

Revenues

We had revenues of $28,009 for the three months ended March 31, 2024, as compared to revenues of $48,245 for the three months ended March 31, 2023. The decrease in revenues is a result of a decreased retail footprint in Oregon as the Company moves towards developing overseas cannabis operations and the Psychedelics market.

Cost of Goods Sold

Our cost of goods sold for the three months ended March 31, 2024 was $13,406 compared to cost of goods sold of $16,597 for the three months ended March 31, 2023. The decrease in cost of goods sold was due to the decrease in revenues but this expense as a percentage of revenues was largely unchanged.

Salaries and Wages

Salaries and Wages decreased to $44,915 for the three months ended March 31, 2024 as compared to $42,131 for the three months ended March 31, 2023. The salaries and wages was almost kept the same as the prior year.

Selling, General and Administrative Expenses

Selling, general and administrative decreased to $78,849 for the three months ended March 31, 2024 as compared to $94,146 for the three months ended March 31, 2023. The decrease in this category of expenses was due to both a reduction in the Oregon retail footprint as well as to cost saving reductions in general corporate expenses.

Professional Fees

Professional fees were $189,425 for the three months ended March 31, 2024, as compared to $231,249 for the three months ended March 31, 2023.

Gain or Loss on disposal of assets

Gain on disposal of assets was $0 for the three months ended March 31, 2024, as compared to $177,883 for the three months ended March 31, 2023. The change was due to the value of assets that were disposed of during prior period that resulted in a gain.

Interest Expense

Interest expense increased slightly to $180,330 for the three months ended March 31, 2024 from $162,039 for the three months ended March 31, 2023. The increase in the interest expense was primarily due to the increase of the new notes as of March 31, 2024.

Amortization of Debt Discount

Amortization of debt discount was $5,638 for the three months ended March 31, 2024, as compared to $181,543 for the three months ended March 31, 2023. The decrease in this category was due to most of the debt discount being fully amortized during this quarter.

Change in Fair Value of Derivative Liabilities

Change in fair value of embedded derivative liabilities was loss of $621,921 for the three months ended March 31, 2024 compared to a gain of $542,983 for the three months ended March 31, 2023. These changes were due to changes in stock price as well as the volatility factors used in the derivative calculations.

Other Income/(Loss)

Other income was a loss of $804,275 for the three months ended March 31, 2024 as compared to an income of $377,284 for the three months ended March 31, 2023. The $804,275 loss was due largely to a change in derivative liability expenses resulting from cash repayments of three convertible notes as well as the volatility factors used in the derivative calculations.

Net Income (Loss)

We had net loss of $1,105,680 for the three months ended March 31, 2024, as compared to a net income of $34,933 for the three months ended March 31, 2023. The majority of our loss during the three-month period ending March 31, 2024 was a result of the derivative liabilities associated with our convertible debt as well as more volatility factors used in the derivative calculations. The non-controlling interest for the three months ended March 31, 2024 and 2023 was a loss of $20,688 and a loss of $32,226 respectively.

Liquidity and Capital Resources

During the first quarter of 2024 our cash position increased by $45,889 to $74,997 and our negative working capital deficit was $8,218,743.

As of March 31, 2024, our working capital consisted of cash of $74,997, prepaid expenses of $58,188 as compared to cash of $29,108, inventories of $9,259 and prepaid expenses of $58,588, as of December 31, 2023.

Our current liabilities include accounts payable and accrued expenses of $603,735, accounts payable and accrued expenses-related parties of $615,759 accrued interest of $2,530,743, current portion of lease liability of $12,704, tax liability of $902,163, convertible notes payable- net of discount of $125,000, notes payable of $9,312 and derivative liabilities of $3,488,082, as compared to accounts payable and accrued expenses of $589,085 accounts payable and accrued expenses-related parties of $514,972 accrued interest of $2,369,015, current portion of lease liability of $30,885, tax liability of $899,344, convertible notes payable- net of discount of $125,000, notes payable of $124,312 and derivative liabilities of $2,752,321 as of December 31, 2023.

Financing Transactions

On January 23, 2024, the Company received $61,200.00 and on March 12, 2024 the Company received an additional $150,000 in capital from the Institutional Investor. The $210,200 (along with $3,000 in interest that was owed the Investor) was invested in a private placement.

On January 31, 2024, the Company transferred $15,300, including $15,000 principal and $300 accrual interest, from another accredited investor to purchase .6 Units of the Private Placement.

On March 15,2024, the investor agreed to transfer on matured note, including $100,000 principal and $9,650 accrual interest to purchase 4.3 units of the private placement.

Use of Proceeds

The proceeds from financing transactions that the Company has and may enter into will be used for general working capital to fund our growth plan, including the development of its planned Oregon psilocybin business and development of its international projects in Greece.

Plan of Operations

Management believes that further proceeds expected to be received from financing transactions that it is seeking to enter into, combined with existing and anticipated revenues, will alleviate the Company’s financial difficulties to a significant extent and will allow the Company to meet its anticipated working capital needs for a period of between twelve and eighteen months from the date of this report. However, there can be no assurance that further funding from the contemplated financings will be achieved, or if achieved that they will be successful to the level required to meet the Company’s cash needs, or that management’s belief will be correct and that the Company will not sooner require additional financing to meet its working capital needs prior to achieving profitability or positive cash flow. Moreover, we may not be successful in raising additional capital on commercially reasonable terms, if and when needed, in which case our business, financial condition, cash flows and results of operations may be materially and adversely affected.

Note Conversions

No notes were converted during the period.

Employee Stock Plan Issuances and Director and Officer Restricted Stock issuances

No Employee Stock Plan Issuances or Director and Officer Restricted Stock Issuances were issued during the period.

Item 3. Quantitative and Qualitative Disclosures About Market Risk

Not applicable.

Item 4. Controls and Procedures

Evaluation of Disclosure Controls and Procedures

Under the direction of our Chairman and President, who is our principal, executive, financial and accounting officer, we evaluated our disclosure controls and procedures as of March 31, 2023. Our Chairman and President, who is our principal, executive, financial and accounting officer, concluded that our disclosure controls and procedures were not effective as of March 31, 2024.

We maintain disclosure controls and procedures that are designed to ensure that the information required to be disclosed in the reports that we file under 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 Chairman and President, who is our principal, executive, financial and accounting officer, as appropriate, to allow timely decisions regarding required disclosures. In designing and evaluating the disclosure controls and procedures, management recognized that any controls and procedures, no matter how well designed and operated, can only provide reasonable assurance of achieving the desired control objectives, and in reaching a reasonable level of assurance, management necessarily was required to apply its judgment in evaluating the cost-benefit relationship of possible controls and procedures.

As required by SEC Rule 13a-15(b), we carried out an evaluation, under the supervision and with the participation of our management, including our Chairman and President, who is our principal, executive, financial and accounting officer, of the effectiveness of the design and operation of our disclosure controls and procedures as of the end of our fourth fiscal quarter covered by this report. Based on the foregoing, our Chairman and President concluded that our disclosure controls and procedures were not effective. It should be noted that the design of any system of controls is based in part upon certain assumptions about the likelihood of future events, and there can be no assurance that any design will succeed in achieving its stated goals under all potential future conditions, regardless of how remote.

Management’s Report on Internal Control Over Financial Reporting

Our management of is responsible for establishing and maintaining adequate internal control over financial reporting. Internal control over financial reporting is defined in Rule 13a-15(f) or 15d-15(f) promulgated under the Exchange Act as a process designed by, or under the supervision of, our Chairman and President, who is our principal, executive, financial and accounting officer and effected by the Company’s board of directors, management and other personnel, 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 and includes those policies and procedures that:

▪

Pertain to the maintenance of records that in reasonable detail accurately and fairly reflect the transactions and dispositions of the assets of the Company;

▪		Provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the Company are being made only in accordance with authorizations of management and directors of the Company; and

▪		Provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of the Company’s assets that could have a material effect on the financial statements.

Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

The Company’s Chairman and President, who is our principal, executive, financial and accounting officer, assessed the effectiveness of the Company’s internal control over financial reporting as of March 31, 2023. In making this assessment, the Company’s Chairman and President, who is our principal, executive, financial and accounting officer, used the criteria set forth by the Committee of Sponsoring Organizations of the Treadway Commission (“COSO”) in Internal Control-Integrated Framework (2013). The COSO framework is based upon five integrated components of control: control environment, risk assessment, control activities, information and communications and ongoing monitoring.

Based on the assessment performed, the Company’s Chairman and President, who is our principal, executive, financial and accounting officer, has concluded that the Company’s internal control over financial reporting, as of March 31, 2023. is not effective to provide reasonable assurance regarding the reliability of its financial reporting and the preparation of its financial statements in accordance with generally accepted accounting principles. Further, the Company’s Chairman and President, who is our principal, executive, financial and accounting officer, has identified material weaknesses in internal control over financial reporting as of March 31, 2024.

Based on an evaluation, the Company’s Chairman and President, who is our principal, executive, financial and accounting officer, has concluded that the Company’s disclosure controls and procedures as defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act were not effective as of March 31, 2024. (the “Evaluation Date”), to ensure that information required to be disclosed by the Company in reports that it files or submits under the Exchange Act is (i) recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission rules and forms; and (ii) accumulated and communicated to the Company’s Chairman and President, who is our principal, executive, financial and accounting officer, as appropriate to allow timely decisions regarding required disclosure. Each of the following is deemed a material weakness in our internal control over financial reporting:

▪		We do not have an audit committee. While we are not currently obligated to have an audit committee, including a member who is an “audit committee financial expert,” as defined in Item 407 of Regulation S-K, under applicable regulations or listing standards; however, it is management’s view that such a committee is an important internal control over financial reporting, the lack of which may result in ineffective oversight in the establishment and monitoring of internal controls and procedures.

▪		We did not maintain proper segregation of duties for the preparation of our financial statements. We currently have only one officer overseeing all transactions. This has resulted in several deficiencies, including the lack of control over preparation of financial statements and proper application of accounting policies

▪		Lack of controls over related party transactions: As of March 31, 2023, the Company did not establish a formal written policy for the approval, identification and authorization of related party transactions.

The Company’s Chairman and President, who is our principal, executive, financial and accounting officer, believes that the material weaknesses set forth in the two items above did not have an effect on our financial results. However, the Company’s Chairman and President, who is our principal, executive, financial and accounting officer, believes that the lack of a functioning audit committee results in ineffective oversight in the establishment and monitoring of required internal controls and financial procedures, which could result in a material misstatement in our consolidated financial statements in future periods.

Changes in Internal Control over Financial Reporting

There was no change in our internal controls or in other factors that could affect these controls during the first quarter of the year ended March 31, 2024 that have materially or are reasonably likely to materially affect, our internal controls over financial reporting.

PART II – OTHER INFORMATION

Item 1. Legal Proceedings

From time-to-time KAYS be party to various legal proceedings in the ordinary course of business. Please see paragraphs below for status and results of legal proceedings during Q-1 2023.

Lawsuit from Law Offices of Ross Day

On March 30, 2023 the Company was advised from its current Oregon counsel that the Court has appointed an arbitrator, and the Company intends to either seek settlement or otherwise litigate the matter based on the results of the arbitration.

On August 24, 2023 the Company and Day Law & Associates participated in an Arbitration in an attempt to resolve the Matter without Litigation.

On October 11, 2023 the Arbitrator ruled in favor of the Company and awarded the Company $3,000 in legal Fees and $781 in Costs. Since that time the Company has been advised that Day Law & Associates, P.C. appealed the Arbitration Award, and have consented to allow the Oregon Bar to mediate the case.

Lawsuit from P3 Distributing LLC

On February 23, 2024 the Company received notice from its Oregon Counsel that P3 Distributing L.L.C (a vendor that supplied containers used in the sale of cannabis) had filed suit in Marion County, Oregon seeking damages in the amount of $12,149.00 for unpaid vendor invoices, plus interest at the rate of 9% per annum from February 29, 2020.

The Company is working with its Oregon Counsel to resolve the matter.

Item 1A. Risk Factors.

See “Item 1A. Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2023.

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

On January 31, 2024, the Company modified $15,000 promissory note and its accrual interest from another accredited investor to purchase .6 Units of the Private Placement.

On March 15, 2024, the Company modified $100,000 promissory note and its accrual interest from another accredited investor to purchase 4.3 Units of the private placement.

Use of Proceeds

The proceeds from financing transactions that the Company has and may enter will be used for general working capital to fund our growth plan, including the development of its planned Oregon psilocybin business and development of its international projects in Greece.

Item 3. Defaults Upon Senior Securities.

None.

Item 4. Mine Safety Disclosures.

Not applicable.

Item 5. Other Information.

None

Item 6. Exhibits

	Exhibit No.		Description of Exhibit

	31.1		Section 302 Certification

32.1

Section 906 Certification

SIGNATURES

In accordance with Section 13 or 15(d) of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Dated: May 16, 2024

KAYA HOLDINGS, INC.

By: /s/ Craig Frank

Craig Frank, Chairman, President, Chief Executive Officer and Acting Chief Financial Officer (Principal Executive, Financial and Accounting Officer)

Exhibit 31.1

CERTIFICATION OF CHIEF EXECUTIVE OFFICER

AND CHIEF FINANCIAL OFFICER PURSUANT TO

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

SECTION 302 OF THE SARBANESOXLEY ACT OF 2002

I, Craig Frank, Chairman, President, Chairman, President, Chief Executive Officer and Acting Chief Financial Officer of Kaya Holdings, Inc., a Delaware corporation (the “Registrant”), certify that:

I have reviewed this Form 10-Q for the quarter ended March 31, 2024 of the Registrant;

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;

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;

I, as the Registrant’s sole officer, am 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:

Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under my 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;

Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under my 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 my 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

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

I, as the Registrant’s sole officer, have disclosed, based on my 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):

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

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: May 16, 2024

KAYA HOLDINGS, INC.

By: /s/ Craig Frank

Craig Frank, Chairman, President, Chief Executive Officer and Acting Chief Financial Officer (Principal Executive, Financial and Accounting Officer)

Exhibit 32.1

CERTIFICATION OF CHIEF EXECUTIVE OFFICER AND CHIEF FINANCIAL OFFICER

PURSUANT TO 18 U.S.C. SECTION 1350 AS ADOPTED

PURSUANT TO SECTION 906 OF THE SARBANESOXLEY ACT OF 2002

In connection with the Quarterly Report of Kaya Holdings, Inc., a Delaware corporation (the “Company”) on Form 10-Q for the quarter year ended March 31, 2024 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Craig Frank, the Chairman, President, Chief Executive Officer and Acting Chief Executive Officer of the Company, certify, pursuant to 18 U.S.C. §1350, as adopted pursuant to §906 of the SarbanesOxley Act of 2002, that:

The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

Date: May 16, 2024

KAYA HOLDINGS, INC .

By: /s/ Craig Frank

Chairman, President, Chief Executive Officer and Acting Chief Financial Officer (Principal Executive, Financial and Accounting Officer)

Cover - shares	3 Months Ended
Cover - shares	Mar. 31, 2024	May 16, 2024
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Mar. 31, 2024
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2024
Current Fiscal Year End Date	--12-31
Entity File Number	333-177532
Entity Registrant Name	KAYA HOLDINGS, INC
Entity Central Index Key	0001530746
Entity Tax Identification Number	90-0898007
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	915 Middle River Drive
Entity Address, Address Line Two	Suite 316
Entity Address, City or Town	Ft. Lauderdale
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	33304
City Area Code	(954)
Local Phone Number	892-6911
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		22,172,835

Consolidated Balance Sheet (Unaudited) - USD ($)	Mar. 31, 2024	Dec. 31, 2023
CURRENT ASSETS:
Cash and equivalents	$ 74,997	$ 29,108
Inventory		9,259
Prepaid expenses	58,188	58,588
Total current assets	133,185	96,955
NON-CURRENT ASSETS:
Right-of-use asset - operating lease	12,585	29,865
Property and equipment, net of accumulated depreciation of $217,847 and $216,890	23,918	24,875
Goodwill	22,697	23,682
Other Assets	35,229	40,479
Total non-current assets	94,429	118,901
Total assets	227,614	215,856
CURRENT LIABILITIES:
Accounts payable and accrued expense	603,735	589,085
Accounts payable and accrued expense-related parties	615,759	514,972
Accrued interest	2,530,743	2,369,015
Right-of-use liability - operating lease	12,704	30,885
Taxable Payable	902,163	899,344
Convertible notes payable, net of discount of $0 and $0	125,000	125,000
Notes payable	9,312	124,312
Derivative liabilities	3,488,082	2,752,321
Total current liabilities	8,287,498	7,404,934
NON-CURRENT LIABILITIES:
Notes payable	500,000	500,000
Notes payable-related party	250,000	250,000
Convertible notes payable, net of discount of $108,944 and $742	7,535,708	7,311,410
Accrued expense-related parties	500,000	500,000
Total non-current liabilities	8,785,708	8,561,410
Total liabilities	17,073,206	15,966,344
STOCKHOLDERS' DEFICIT:
Common stock , par value $.001; 500,000,000 shares authorized; 22,172,835 shares and 22,172,835 shares issued as of March 31, 2024 and December 31, 2023, respectively; 22,172,835 and 22,172,835 shares outstanding as of March 31, 2024 December 31, 2023, respectively	22,173	22,173
Subscriptions payable	163,630	163,630
Additional paid in capital	22,506,043	22,493,783
Accumulated deficit	(37,547,255)	(36,462,263)
Accumulated other comprehensive income	(13,614)	(12,617)
Total stockholders' deficit attributable to parent company	(14,869,023)	(13,795,294)
Non-controlling interest	(1,976,569)	(1,955,194)
Total stockholders' deficit	(16,845,592)	(15,750,488)
Total liabilities and stockholders' deficit	$ 227,614	$ 215,856

Consolidated Balance Sheet (Unaudited) (Parenthetical) - USD ($)	Mar. 31, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Property and equipment, net of accumulated depreciation	$ 217,847	$ 216,890
Convertible notes payable net of discount current	$ 108,944	$ 742
Common Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001
Common Stock, Shares Authorized	500,000,000	500,000,000
Common Stock, Shares, Issued	22,172,835	22,172,835
Common Stock, Shares, Outstanding	22,172,835	22,172,835

Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Income Statement [Abstract]
Net sales	$ 28,009	$ 48,245
Cost of sales	13,406	16,597
Gross profit	14,603	31,648
Operating expenses:
Professional fees	189,425	231,249
Salaries and wages	44,915	42,131
General and administrative	78,849	94,146
Total operating expenses	313,189	367,526
Operating loss	(298,586)	(335,878)
Other income (expense):
Interest expense	(180,330)	(162,039)
Amortization of debt discount	(5,638)	(181,543)
Gain on disposal		177,883
Change in derivative liabilities expense	(621,921)	542,983
Other income (expense)	3,614
Total other income (loss)	(804,275)	377,284
Net income from continuing operations before income taxes	(1,102,861)	41,406
Provision for Income Taxes	(2,819)	(6,473)
Net income (loss)	(1,105,680)	34,933
Net loss attributed to non-controlling interest	(20,688)	(32,226)
Net income (loss) attributed to Kaya Holdings, Inc.	$ (1,084,992)	$ 67,159
Basic net income per common share	$ (0.01)	$ 0.07
Weighted average number of common shares outstanding - Basic	185,802,835	22,172,835
Diluted net income per common share	$ (0.01)	$ 0.01
Weighted average number of common shares outstanding - Diluted	185,802,835	203,750,520

Consolidated Statement of Cashflows (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
OPERATING ACTIVITIES:
Net income (loss)	$ (1,084,992)	$ 67,159
Adjustments to reconcile net income / loss to net cash used in operating activities:
Adjustment to non-controlling interest	(20,688)	(32,226)
Depreciation	957	3,517
Imputed interest	5,610	5,548
Loss (gain) on impairment of right-of use asset
Change in derivative liabilities	621,921	(542,983)
Amortization of debt discount	5,638	181,543
Loss (gain) on disposal of fixed assets		(177,883)
Changes in operating assets and liabilities:
Prepaid expense		5,100
Inventory	9,259	1,011
Right-of-use asset	17,280	25,677
Deposit	5,000
Other assets
Accrued interest	161,728	127,909
Accounts payable and accrued expenses	14,650	(12,741)
Accounts payable and accrued expenses - Related Parties	100,787	56,638
Right-of-use liabilities	(18,181)	(26,210)
Deferred tax liabilities	2,819	6,473
Net cash provided by(used in) operating activities	(178,212)	(311,468)
INVESTING ACTIVITIES:
Proceeds from sales of subsidiary's stock	6,650	693,959
Net cash provided by investing activities	6,650	693,959
FINANCING ACTIVITIES:
Proceeds from convertible notes	217,500
Payments on convertible debt		(370,000)
Net cash provided by financing activities	217,500	(370,000)
NET INCREASE (DECREASE) IN CASH	45,938	12,491
Effects of currency translation on cash and cash equivalents	(49)	(332)
CASH BEGINNING BALANCE	29,108	18,330
CASH ENDING BALANCE	74,997	30,489
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Interest paid		28,582
NON-CASH TRANSACTIONS AFFECTING OPERATING, INVESTING AND FINANCING ACTIVITIES:
Initial derivative liability on convertible note payable	113,840
Settlement of derivative liabilities		$ 145,625

Consolidated Statements of Stockholders' Deficit (Unaudited) - USD ($)	Series D Preferred Stock [Member]	Common Stock [Member]	Subscription Payable Amount [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Noncontrolling Interest [Member]	Total
Beginning balance, value at Dec. 31, 2022		$ 22,173	$ 163,630	$ 22,277,612	$ (38,071,960)	$ (11,027)	$ (1,984,169)	$ (17,603,741)
Beginning Balance at Dec. 31, 2022	40	22,172,835
Imputed interest				5,548				5,548
Settlement of derivative liabilities to additional paid in capital				145,625				145,625
Translation Adjustment						(1,787)	2,315	528
Net Income					67,159		(32,226)	34,933
Ending balance, value at Mar. 31, 2023		$ 22,173	163,630	22,428,785	(38,004,801)	(12,814)	(2,014,080)	(17,417,107)
Ending balance at Mar. 31, 2023	40	22,172,835
Beginning balance, value at Dec. 31, 2023		$ 22,173	163,630	22,493,783	(36,462,263)	(12,617)	(1,955,194)	(15,750,488)
Beginning Balance at Dec. 31, 2023	40	22,172,835
Imputed interest				5,610				5,610
Translation Adjustment						(997)	(687)	(1,684)
Net Income					(1,084,992)		(20,688)	(1,105,680)
Equity transaction (Sale of subsidiary's stock)				6,650				6,650
Ending balance, value at Mar. 31, 2024		$ 22,173	$ 163,630	$ 22,506,043	$ (37,547,255)	$ (13,614)	$ (1,976,569)	$ (16,845,592)
Ending balance at Mar. 31, 2024	40	22,172,835

Consolidated Statements of Comprehensive Income(Loss) (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Income Statement [Abstract]
Net income (loss)	$ (1,084,992)	$ 67,159
Other comprehensive expense
Foreign currency adjustments	(1,684)	528
Comprehensive income (loss)	(1,086,676)	67,687
Other comprehensive income (expense)
Net loss attirbuted to non-controlling interest	(20,688)	(32,226)
Comprehensive loss attributatable to Kaya Holdings	$ (1,065,988)	$ 99,913

ORGANIZATION AND NATURE OF THE BUSINESS

3 Months Ended

Mar. 31, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

ORGANIZATION AND NATURE OF THE BUSINESS

NOTE 1 – ORGANIZATION AND NATURE OF THE BUSINESS

Organization

Nature of the Business

In January 2014, KAYS incorporated MJAI, a wholly owned subsidiary, to focus on opportunities in the legal recreational and medical marijuana in the United States.

Kaya Shack™ Store 3 and Kaya Shack™ Store 4 were both closed due to consolidation moves by the Company in 2020 and 2021, respectively, and the Company let the licenses lapse.

LIQUIDITY AND GOING CONCERN

3 Months Ended

Mar. 31, 2024

Liquidity And Going Concern

LIQUIDITY AND GOING CONCERN

NOTE 2 – LIQUIDITY AND GOING CONCERN

•

the sale of additional equity and debt securities,

•

alliances and/or partnerships with entities interested in and having the resources to support the further development of the Company’s business plan,

•

business transactions to assure continuation of the Company’s development and operations,

•

development of a unified brand and the pursuit of licenses to operate recreational and medical marijuana facilities under the branded name.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND BASIS OF PRESENTATION

3 Months Ended

Mar. 31, 2024

Accounting Policies [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND BASIS OF PRESENTATION

NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND BASIS OF PRESENTATION

Basis of Presentation

Reclassifications

Certain prior period amounts have been reclassified to conform to the current period presentation.

Use of Estimates

Risks and Uncertainties

The Company’s operations are subject to risk and uncertainties including financial, operational, regulatory and other risks including the potential risk of business failure.

Principles of Consolidation

Majority-owned subsidiaries:

Fifth Dimension Therapeutics, Inc. (a Florida Corporation)

Kaya Brands International, Inc. (a Florida Corporation)

Kaya Shalvah (“Kaya Farms Israel”, an Israeli corporation) majority owned subsidiary of KBI)

Kaya Farms Greece, S.A. (a Greek Corporation) majority owned subsidiary of KBI)

Marijuana Holdings Americas, Inc. (a Florida corporation)

MJAI Oregon 1 LLC

Non-Controlling Interest

The company owned 85% of Kaya Brands International, Inc. until July 31, 2020. Starting August 1, 2020, Kaya Holding, Inc. owns 65% of Kaya Brands International, Inc.

The Company owns 65% of Fifth Dimension Therapeutics, Inc.

Cash and Cash Equivalents

Inventory

Property and Equipment

Upon sale or retirement of property and equipment, the related cost and accumulated depreciation are removed from the accounts and any gain or loss is reflected in the statements of operations.

Long-lived assets

Accounting for the Impairment of Long-Lived Assets

Operating Leases

Deferred Rent and Tenant Allowances

Earnings Per Share

Income Taxes

We are subject to certain tax risks and treatments that could negatively impact our results of operations

Provision for Income Taxes

Fair Value of Financial Instruments

The following are the hierarchical levels of inputs to measure fair value:

•

Level 1 – Observable inputs that reflect quoted market prices in active markets for identical assets or liabilities.

•

	Fair Value Measurements at March 31, 2024
	Level 1		Level 2		Level 3
Assets
Cash	$	74,997	$	—	$	—
Total assets		74,997		—		—
Liabilities
Convertible debentures, net of discounts of $108,944		—		—		7,660,708
Derivative liability		—		—		3,488,082
Total liabilities		—		—		11,148,790
	$	74,997	$	—	$	(11,148,790	)
		Fair Value Measurements at December 31, 2023
		Level 1		Level 2		Level 3
Assets
Cash	$	29,108	$	—	$	—
Total assets		29,108		—		—
Liabilities
Convertible debentures, net of discounts of $742		—		—		7,436,410
Derivative liability		—		—		2,752,321
Total liabilities		—		—		10,188,731
	$	29,108	$	—	$	(10,188,731	)

The Company accounts for its derivative liabilities, at fair value, on a recurring basis under level 3. See Note 7.

Embedded Conversion Features

Derivative Financial Instruments

Beneficial Conversion Feature

For conventional convertible debt where the rate of conversion is below market value, the Company records a "beneficial conversion feature" ("BCF") and related debt discount.

Debt Issue Costs and Debt Discount

Original Issue Discount

Extinguishments of Liabilities

Stock-Based Compensation - Employees

•		Expected term of share options and similar instruments: The expected life of options and similar instruments represents the period of time the option and/or warrant are expected to be outstanding. Pursuant to Paragraph 718-10-50-2(f)(2)(i) of the FASB Accounting Standards Codification the expected term of share options and similar instruments represents the period of time the options and similar instruments are expected to be outstanding taking into consideration of the contractual term of the instruments and employees’ expected exercise and post-vesting employment termination behavior into the fair value (or calculated value) of the instruments. Pursuant to paragraph 718-10-S99-1, it may be appropriate to use the simplified method, i.e., expected term = ((vesting term + original contractual term) / 2), if (i) A company does not have sufficient historical exercise data to provide a reasonable basis upon which to estimate expected term due to the limited period of time its equity shares have been publicly traded; (ii) A company significantly changes the terms of its share option grants or the types of employees that receive share option grants such that its historical exercise data may no longer provide a reasonable basis upon which to estimate expected term; or (iii) A company has or expects to have significant structural changes in its business such that its historical exercise data may no longer provide a reasonable basis upon which to estimate expected term. The Company uses the simplified method to calculate expected term of share options and similar instruments as the company does not have sufficient historical exercise data to provide a reasonable basis upon which to estimate expected term.
•		Expected volatility of the entity’s shares and the method used to estimate it. Pursuant to ASC Paragraph 718-10-50-2(f)(2)(ii) a thinly-traded or nonpublic entity that uses the calculated value method shall disclose the reasons why it is not practicable for the Company to estimate the expected volatility of its share price, the appropriate industry sector index that it has selected, the reasons for selecting that particular index, and how it has calculated historical volatility using that index. The Company uses the average historical volatility of the comparable companies over the expected contractual life of the share options or similar instruments as its expected volatility. If shares of a company are thinly traded the use of weekly or monthly price observations would generally be more appropriate than the use of daily price observations as the volatility calculation using daily observations for such shares could be artificially inflated due to a larger spread between the bid and asked quotes and lack of consistent trading in the market.
•		Expected annual rate of quarterly dividends. An entity that uses a method that employs different dividend rates during the contractual term shall disclose the range of expected dividends used and the weighted-average expected dividends. The expected dividend yield is based on the Company’s current dividend yield as the best estimate of projected dividend yield for periods within the expected term of the share options and similar instruments.
•		Risk-free rate(s). An entity that uses a method that employs different risk-free rates shall disclose the range of risk-free rates used. The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of grant for periods within the expected term of the share options and similar instruments.

The expense resulting from share-based payments is recorded in general and administrative expense in the statements of operations.

Stock-Based Compensation – Non-Employees

Equity Instruments Issued to Parties Other Than Employees for Acquiring Goods or Services

The fair value of share options and similar instruments is estimated on the date of grant using a Binomial option-pricing valuation model. The ranges of assumptions for inputs are as follows:

•		Expected term of share options and similar instruments: Pursuant to Paragraph 718-10-50-2(f)(2)(i) of the FASB Accounting Standards Codification the expected term of share options and similar instruments represents the period of time the options and similar instruments are expected to be outstanding taking into consideration of the contractual term of the instruments and holder’s expected exercise behavior into the fair value (or calculated value) of the instruments. The Company uses historical data to estimate holder’s expected exercise behavior. If the Company is a newly formed corporation or shares of the Company are thinly traded the contractual term of the share options and similar instruments is used as the expected term of share options and similar instruments as the Company does not have sufficient historical exercise data to provide a reasonable basis upon which to estimate expected term.
•		Expected volatility of the entity’s shares and the method used to estimate it. Pursuant to ASC Paragraph 718-10-50-2(f)(2)(ii) a thinly-traded or nonpublic entity that uses the calculated value method shall disclose the reasons why it is not practicable for the Company to estimate the expected volatility of its share price, the appropriate industry sector index that it has selected, the reasons for selecting that particular index, and how it has calculated historical volatility using that index. The Company uses the average historical volatility of the comparable companies over the expected contractual life of the share options or similar instruments as its expected volatility. If shares of a company are thinly traded the use of weekly or monthly price observations would generally be more appropriate than the use of daily price observations as the volatility calculation using daily observations for such shares could be artificially inflated due to a larger spread between the bid and asked quotes and lack of consistent trading in the market.
•		Expected annual rate of quarterly dividends. An entity that uses a method that employs different dividend rates during the contractual term shall disclose the range of expected dividends used and the weighted-average expected dividends. The expected dividend yield is based on the Company’s current dividend yield as the best estimate of projected dividend yield for periods within the expected term of the share options and similar instruments.
•		Risk-free rate(s). An entity that uses a method that employs different risk-free rates shall disclose the range of risk-free rates used. The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of grant for periods within the expected term of the share options and similar instruments.

Revenue Recognition

To date the only other revenue we have received is for ATM transactions and revenue from this activity is only reported after we receive payment via check from the ATM service provider company.

Cost of Sales

Cost of sales represents costs directly related to the purchase of goods and third party testing of the Company’s products.

Related Parties

The Company follows subtopic 850-10 of the FASB Accounting Standards Codification for the identification of related parties and disclosure of related party transactions.

Contingencies

Uncertain Tax Positions

Subsequent Events

Recently Issued Accounting Pronouncements

PROPERTY, PLANT AND EQUIPMENT

3 Months Ended

Mar. 31, 2024

Property, Plant and Equipment [Abstract]

PROPERTY, PLANT AND EQUIPMENT

NOTE 4 – PROPERTY, PLANT AND EQUIPMENT

Property, plant and equipment consisted of the following at December 31, 2023 and December 31, 2022:

	March 31, 2024			December 31, 2023
	(Unaudited)			(Audited)
Computer		30,713			30,713
Furniture & Fixtures		56,978			56,978
HVAC		25,000			25,000
Land		17,703			17,703
Leasehold Improvements		32,304			32,304
Machinery and Equipment		55,067			55,067
Vehicle					24,000
Total		241,765			241,765
Less: Accumulated Depreciation		(217,847	)		(216,890	)
Property, Plant and Equipment - net	$	23,918		$	24,875

NON-CURRENT ASSETS

3 Months Ended

Mar. 31, 2024

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

NON-CURRENT ASSETS

NOTE 5 – NON-CURRENT ASSETS

Other assets consisted of the following at March 31, 2024 and December 31, 2023:

	March 31, 2024		December 31, 2023
Other receivable		10,797		11,047
Rent deposits		18,941		23,941
Security deposits		5,491		5,491
Total Non-current assets		35,229		40,479

ACCOUNTS PAYABLE AND ACCRUED EXPENSES

3 Months Ended

Mar. 31, 2024

Payables and Accruals [Abstract]

ACCOUNTS PAYABLE AND ACCRUED EXPENSES

NOTE 6 – ACCOUNTS PAYABLE AND ACCRUED EXPENSES

The accounts payable and accrued expenses consisted of the following at March 31, 2024 and December 31, 2023 :

	March 31, 2024		December 31, 2023
Accounts payable		573,771		561,551
Accrued expenses		29,964		27,534
Total		603,735		589,085

CONVERTIBLE DEBT

3 Months Ended

Mar. 31, 2024

Debt Disclosure [Abstract]

CONVERTIBLE DEBT

NOTE 7 – CONVERTIBLE DEBT

See Below Summary Table

Schedule of Convertible Debt

Convertible Debt Summary
	Debt Type	Debt Classification		Interest Rate	Due Date	Ending
	Debt Type	CT	LT	Interest Rate	Due Date	3/31/2024	12/31/2023

A	Convertible	X		10.0%	1-Jan-17	25,000	$ 25,000
B	Convertible		X	8.0%	31-Dec-25	82,391	82,391
C	Convertible		X	8.0%	31-Dec-25	41,195	41,195
D	Convertible		X	8.0%	31-Dec-25	262,156	262,156
O	Convertible		X	8.0%	31-Dec-25	136,902	136,902
P	Convertible		X	8.0%	31-Dec-25	66,173	66,173
Q	Convertible		X	8.0%	31-Dec-25	65,274	65,274
S	Convertible		X	8.0%	31-Dec-25	63,205	63,205
T	Convertible		X	8.0%	31-Dec-25	313,634	313,634
CC	Convertible	X		10.0%	1-Jan-25	100,000	100,000
KK	Convertible		X	8.0%	31-Dec-25	188,000	188,000
LL	Convertible		X	8.0%	31-Dec-25	749,697	749,697
MM	Convertible		X	8.0%	31-Dec-25	124,690	124,690
NN	Convertible		X	8.0%	31-Dec-25	622,588	622,588
OO	Convertible		X	8.0%	31-Dec-25	620,908	620,908
PP	Convertible		X	8.0%	31-Dec-25	611,428	611,428
QQ	Convertible		X	8.0%	31-Dec-25	180,909	180,909
RR	Convertible		X	8.0%	31-Dec-25	586,804	586,804
SS	Convertible		X	8.0%	31-Dec-25	174,374	174,374
TT	Convertible		X	8.0%	31-Dec-25	345,633	345,633
UU	Convertible		X	8.0%	31-Dec-25	171,304	171,304
VV	Convertible		X	8.0%	31-Dec-25	121,727	121,727
XX	Convertible		X	8.0%	31-Dec-25	112,734	112,734
YY	Convertible		X	8.0%	31-Dec-25	173,039	173,039
ZZ	Convertible		X	8.0%	31-Dec-25	166,603	166,603
AAA	Convertible		X	8.0%	31-Dec-25	104,641	104,641
BBB	Convertible		X	8.0%	31-Dec-25	87,066	87,066
DDD	Convertible		X	8.0%	31-Dec-25	75,262	75,262
EEE	Convertible		X	8.0%	31-Dec-25	160,619	160,619
GGG	Convertible		X	8.0%	31-Dec-25	79,422	79,422
JJJ	Convertible		X	8.0%	31-Dec-25	52,455	52,455
LLL	Convertible		X	8.0%	31-Dec-25	77,992	77,992
MMM	Convertible		X	8.0%	31-Dec-25	51,348	51,348
PPP	Convertible		X	8.0%	31-Dec-25	95,979	95,979
SSS	Convertible		X	8.0%	31-Dec-25	75,000	75,000
TTT	Convertible		X	8.0%	31-Dec-25	80,000	80,000
VVV	Convertible		X	8.0%	31-Dec-25	75,000	75,000
WWW	Convertible		X	8.0%	31-Dec-25	60,000	60,000
XXX	Convertible		X	8.0%	31-Dec-25	100,000	100,000
YYY	Convertible		X	8.0%	31-Dec-25	50,000	50,000
ZZZ	Convertible		X	8.0%	31-Dec-25	40,000	40,000
AAAA	Convertible		X	8.0%	31-Dec-25	66,000	66,000
BBBB	Convertible	X		12.0%	1-Mar-23	-	150,000
CCCC	Convertible	X		10.0%	1-Mar-23	-	120,000
DDDD	Convertible	X		10.0%	31-Dec-24	-	100,000
EEEE	Convertible		X	10.0%	25-Dec-25	15,000	-
FFFF	Convertible		X	10.0%	23-Jan-26	60,000	-
GGGG	Convertible		X	10.0%	12-Mar-26	150,000	-
HHHH	Convertible		X	10.0%	15-Mar-26	107,500	-

Total Convertible Debt						7,769,652	7,807,152
Less: Discount						(108,944)	(387,819)
Convertible Debt, Net of Discounts						$ 7,660,708	$ 7,419,333
Convertible Debt, Net of Discounts, Current						$ 125,000	$ 240,288
Convertible Debt, Net of Discounts, Long-term						$ 7,535,708	$ 7,179,045

FOOTNOTES FOR CONVERTIBLE DEBT ACTIVITY FOR YEAR ENDED DECEMBER31, 2023

NON-CONVERTIBLE DEBT

3 Months Ended

Mar. 31, 2024

Non-convertible Debt

NON-CONVERTIBLE DEBT

NOTE 8 – NON-CONVERTIBLE DEBT

Schedule of Nonconvertible Debt

	March 31, 2024		December 31, 2023
Note 5	$	9,312	$	9,312
Note 6		500,000		500,000
Note 7		—		100,000
Note 8		—		15,000
Current non-convertible notes		9,312		124,312
Non-current convertible notes		500,000		500,000
Total non-convertible notes	$	509,312	$	624,312

B-Related Party
Loan payable - Stockholder, 0%, Due December 31, 2025 (1)	$	250,000	$	250,000
	$	250,000	$	250,000

(1)

STOCKHOLDERS’ EQUITY

3 Months Ended

Mar. 31, 2024

Equity [Abstract]

STOCKHOLDERS’ EQUITY

NOTE 9 – STOCKHOLDERS’ EQUITY

The Company sold 665,000 shares of FDT as of March 31, 2024 for $6,650. It doesn’t affect the control right of the Company.

DERIVATIVE LIABILITIES

3 Months Ended

Mar. 31, 2024

Derivative Liabilities

DERIVATIVE LIABILITIES

NOTE 10 – DERIVATIVE LIABILITIES

As a result of the application of ASC No. 815, the fair value of the ratchet feature related to convertible debt is summarized as follow:


Balance as of December 31, 2023	$	2,752,321
Change in Derivative values		621,921
Initial derivative		113,840
Balance as of March 31, 2024	$	3,488,082

The Company recorded initial derivative liabilities of $113,840 and $0 for the new notes issued as of March 31, 2024 and December 31, 2023, respectively.

The Company recorded a change in the value of embedded derivative liabilities loss of $621,921 as of March 31, 2024 and a gain of $3,297,215 for the year ended December 31, 2023.

The Company reclassified derivative liabilities of $0 to additional paid in capital due to debt repayments for the three months ended March 31, 2024 and $155,342 for year ended December 31, 2023

DEBT DISCOUNT

3 Months Ended

Mar. 31, 2024

Debt Discount

DEBT DISCOUNT

NOTE 11 – DEBT DISCOUNT

Debt discount amounted to $108,944 and $742 as of December 31, 2023 and 2022, respectively.

The Company recorded the amortization of debt discount of $5,638 and $181,543 for the three months ended March 31, 2024 and 2023, respectively.

RELATED PARTY TRANSACTIONS

3 Months Ended

Mar. 31, 2024

RELATED PARTY TRANSACTIONS

NOTE 12 – RELATED PARTY TRANSACTIONS

STOCK OPTION PLAN

3 Months Ended

Mar. 31, 2024

Stock Option Plan

STOCK OPTION PLAN

NOTE 13 – STOCK OPTION PLAN

WARRANTS

3 Months Ended

Mar. 31, 2024

Warrants

WARRANTS

NOTE 14 – WARRANTS

Warrants issued to Non-Employees

Schedule Of Warrants

	Warrants Issued	Weighted Average Exercise Price	Weighted Average Contract Terms Years
Balance as of December 31, 2022	316,158	0.4744455	0.36
Granted	-	-	-
Exercised	-	-	-
Expired	(316,158)	-	-
Balance as of December 31, 2023	-	-	-

COMMITMENTS AND CONTINGENCIES

3 Months Ended

Mar. 31, 2024

Commitments and Contingencies Disclosure [Abstract]

COMMITMENTS AND CONTINGENCIES

NOTE 15 – COMMITMENTS AND CONTINGENCIES

Operating Leases

The Company has several operating leases for an office in Fort Lauderdale, Florida and four retail store locations in Oregon under arrangements classified as leases under ASC 842.

Maturity of Lease Liabilities at March 31, 2024		Amount
	2024		13,053
	2025		—
	Total lease payments		13,053
	Less: Imputed interest		(349	)
	Present value of lease liabilities	$	12,704

Lessee, Operating Lease, Liability

Leased assets

Operating Lease Liability

As of March 31, 2024

Remaining months

Weighted average

remaining term

KAYA

12,704

Total

12,704

SUBSEQUENT EVENTS

3 Months Ended

Mar. 31, 2024

Subsequent Events

SUBSEQUENT EVENTS

Note 16 - SUBSEQUENT EVENTS

On May 1, 2024 the Company received an additional $130,000 in capital from CVC as part of a private placement.

On April 25, 2024 the Company received notice from the OHA that its license had been approved.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND BASIS OF PRESENTATION (Policies)

3 Months Ended

Mar. 31, 2024

Accounting Policies [Abstract]

Basis of Presentation

Basis of Presentation

Reclassifications

Reclassifications

Certain prior period amounts have been reclassified to conform to the current period presentation.

Use of Estimates

Use of Estimates

Risks and Uncertainties

Risks and Uncertainties

The Company’s operations are subject to risk and uncertainties including financial, operational, regulatory and other risks including the potential risk of business failure.

Principles of Consolidation

Principles of Consolidation

Majority-owned subsidiaries:

Fifth Dimension Therapeutics, Inc. (a Florida Corporation)

Kaya Brands International, Inc. (a Florida Corporation)

Kaya Shalvah (“Kaya Farms Israel”, an Israeli corporation) majority owned subsidiary of KBI)

Kaya Farms Greece, S.A. (a Greek Corporation) majority owned subsidiary of KBI)

Marijuana Holdings Americas, Inc. (a Florida corporation)

MJAI Oregon 1 LLC

Non-Controlling Interest

Non-Controlling Interest

The company owned 85% of Kaya Brands International, Inc. until July 31, 2020. Starting August 1, 2020, Kaya Holding, Inc. owns 65% of Kaya Brands International, Inc.

The Company owns 65% of Fifth Dimension Therapeutics, Inc.

Cash and Cash Equivalents

Cash and Cash Equivalents

Inventory

Inventory

Property and Equipment

Property and Equipment

Upon sale or retirement of property and equipment, the related cost and accumulated depreciation are removed from the accounts and any gain or loss is reflected in the statements of operations.

Long-lived assets

Long-lived assets

Accounting for the Impairment of Long-Lived Assets

Accounting for the Impairment of Long-Lived Assets

Operating Leases

Operating Leases

Deferred Rent and Tenant Allowances

Deferred Rent and Tenant Allowances

Earnings Per Share

Earnings Per Share

Income Taxes

Income Taxes

We are subject to certain tax risks and treatments that could negatively impact our results of operations

Provision for Income Taxes

Provision for Income Taxes

Fair Value of Financial Instruments

Fair Value of Financial Instruments

The following are the hierarchical levels of inputs to measure fair value:

•

Level 1 – Observable inputs that reflect quoted market prices in active markets for identical assets or liabilities.

•

	Fair Value Measurements at March 31, 2024
	Level 1		Level 2		Level 3
Assets
Cash	$	74,997	$	—	$	—
Total assets		74,997		—		—
Liabilities
Convertible debentures, net of discounts of $108,944		—		—		7,660,708
Derivative liability		—		—		3,488,082
Total liabilities		—		—		11,148,790
	$	74,997	$	—	$	(11,148,790	)
		Fair Value Measurements at December 31, 2023
		Level 1		Level 2		Level 3
Assets
Cash	$	29,108	$	—	$	—
Total assets		29,108		—		—
Liabilities
Convertible debentures, net of discounts of $742		—		—		7,436,410
Derivative liability		—		—		2,752,321
Total liabilities		—		—		10,188,731
	$	29,108	$	—	$	(10,188,731	)

The Company accounts for its derivative liabilities, at fair value, on a recurring basis under level 3. See Note 7.

Embedded Conversion Features

Embedded Conversion Features

Derivative Financial Instruments

Derivative Financial Instruments

Beneficial Conversion Feature

Beneficial Conversion Feature

For conventional convertible debt where the rate of conversion is below market value, the Company records a "beneficial conversion feature" ("BCF") and related debt discount.

Debt Issue Costs and Debt Discount

Debt Issue Costs and Debt Discount

Original Issue Discount

Original Issue Discount

Extinguishments of Liabilities

Extinguishments of Liabilities

Stock-Based Compensation - Employees

Stock-Based Compensation - Employees

•		Expected term of share options and similar instruments: The expected life of options and similar instruments represents the period of time the option and/or warrant are expected to be outstanding. Pursuant to Paragraph 718-10-50-2(f)(2)(i) of the FASB Accounting Standards Codification the expected term of share options and similar instruments represents the period of time the options and similar instruments are expected to be outstanding taking into consideration of the contractual term of the instruments and employees’ expected exercise and post-vesting employment termination behavior into the fair value (or calculated value) of the instruments. Pursuant to paragraph 718-10-S99-1, it may be appropriate to use the simplified method, i.e., expected term = ((vesting term + original contractual term) / 2), if (i) A company does not have sufficient historical exercise data to provide a reasonable basis upon which to estimate expected term due to the limited period of time its equity shares have been publicly traded; (ii) A company significantly changes the terms of its share option grants or the types of employees that receive share option grants such that its historical exercise data may no longer provide a reasonable basis upon which to estimate expected term; or (iii) A company has or expects to have significant structural changes in its business such that its historical exercise data may no longer provide a reasonable basis upon which to estimate expected term. The Company uses the simplified method to calculate expected term of share options and similar instruments as the company does not have sufficient historical exercise data to provide a reasonable basis upon which to estimate expected term.
•		Expected volatility of the entity’s shares and the method used to estimate it. Pursuant to ASC Paragraph 718-10-50-2(f)(2)(ii) a thinly-traded or nonpublic entity that uses the calculated value method shall disclose the reasons why it is not practicable for the Company to estimate the expected volatility of its share price, the appropriate industry sector index that it has selected, the reasons for selecting that particular index, and how it has calculated historical volatility using that index. The Company uses the average historical volatility of the comparable companies over the expected contractual life of the share options or similar instruments as its expected volatility. If shares of a company are thinly traded the use of weekly or monthly price observations would generally be more appropriate than the use of daily price observations as the volatility calculation using daily observations for such shares could be artificially inflated due to a larger spread between the bid and asked quotes and lack of consistent trading in the market.
•		Expected annual rate of quarterly dividends. An entity that uses a method that employs different dividend rates during the contractual term shall disclose the range of expected dividends used and the weighted-average expected dividends. The expected dividend yield is based on the Company’s current dividend yield as the best estimate of projected dividend yield for periods within the expected term of the share options and similar instruments.
•		Risk-free rate(s). An entity that uses a method that employs different risk-free rates shall disclose the range of risk-free rates used. The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of grant for periods within the expected term of the share options and similar instruments.

The expense resulting from share-based payments is recorded in general and administrative expense in the statements of operations.

Stock-Based Compensation – Non-Employees

Stock-Based Compensation – Non-Employees

Equity Instruments Issued to Parties Other Than Employees for Acquiring Goods or Services

The fair value of share options and similar instruments is estimated on the date of grant using a Binomial option-pricing valuation model. The ranges of assumptions for inputs are as follows:

•		Expected term of share options and similar instruments: Pursuant to Paragraph 718-10-50-2(f)(2)(i) of the FASB Accounting Standards Codification the expected term of share options and similar instruments represents the period of time the options and similar instruments are expected to be outstanding taking into consideration of the contractual term of the instruments and holder’s expected exercise behavior into the fair value (or calculated value) of the instruments. The Company uses historical data to estimate holder’s expected exercise behavior. If the Company is a newly formed corporation or shares of the Company are thinly traded the contractual term of the share options and similar instruments is used as the expected term of share options and similar instruments as the Company does not have sufficient historical exercise data to provide a reasonable basis upon which to estimate expected term.
•		Expected volatility of the entity’s shares and the method used to estimate it. Pursuant to ASC Paragraph 718-10-50-2(f)(2)(ii) a thinly-traded or nonpublic entity that uses the calculated value method shall disclose the reasons why it is not practicable for the Company to estimate the expected volatility of its share price, the appropriate industry sector index that it has selected, the reasons for selecting that particular index, and how it has calculated historical volatility using that index. The Company uses the average historical volatility of the comparable companies over the expected contractual life of the share options or similar instruments as its expected volatility. If shares of a company are thinly traded the use of weekly or monthly price observations would generally be more appropriate than the use of daily price observations as the volatility calculation using daily observations for such shares could be artificially inflated due to a larger spread between the bid and asked quotes and lack of consistent trading in the market.
•		Expected annual rate of quarterly dividends. An entity that uses a method that employs different dividend rates during the contractual term shall disclose the range of expected dividends used and the weighted-average expected dividends. The expected dividend yield is based on the Company’s current dividend yield as the best estimate of projected dividend yield for periods within the expected term of the share options and similar instruments.
•		Risk-free rate(s). An entity that uses a method that employs different risk-free rates shall disclose the range of risk-free rates used. The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of grant for periods within the expected term of the share options and similar instruments.

Revenue Recognition

Revenue Recognition

To date the only other revenue we have received is for ATM transactions and revenue from this activity is only reported after we receive payment via check from the ATM service provider company.

Cost of Sales

Cost of Sales

Cost of sales represents costs directly related to the purchase of goods and third party testing of the Company’s products.

Related Parties

Related Parties

The Company follows subtopic 850-10 of the FASB Accounting Standards Codification for the identification of related parties and disclosure of related party transactions.

Contingencies

Contingencies

Uncertain Tax Positions

Uncertain Tax Positions

Subsequent Events

Subsequent Events

Recently Issued Accounting Pronouncements

Recently Issued Accounting Pronouncements

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND BASIS OF PRESENTATION (Tables)

3 Months Ended

Mar. 31, 2024

Accounting Policies [Abstract]

Schedule of Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis

	Fair Value Measurements at March 31, 2024
	Level 1		Level 2		Level 3
Assets
Cash	$	74,997	$	—	$	—
Total assets		74,997		—		—
Liabilities
Convertible debentures, net of discounts of $108,944		—		—		7,660,708
Derivative liability		—		—		3,488,082
Total liabilities		—		—		11,148,790
	$	74,997	$	—	$	(11,148,790	)
		Fair Value Measurements at December 31, 2023
		Level 1		Level 2		Level 3
Assets
Cash	$	29,108	$	—	$	—
Total assets		29,108		—		—
Liabilities
Convertible debentures, net of discounts of $742		—		—		7,436,410
Derivative liability		—		—		2,752,321
Total liabilities		—		—		10,188,731
	$	29,108	$	—	$	(10,188,731	)

PROPERTY, PLANT AND EQUIPMENT (Tables)

3 Months Ended

Mar. 31, 2024

Property, Plant and Equipment [Abstract]

Property, plant and equipment consisted of the following at December 31, 2023 and December 31, 2022:

	March 31, 2024			December 31, 2023
	(Unaudited)			(Audited)
Computer		30,713			30,713
Furniture & Fixtures		56,978			56,978
HVAC		25,000			25,000
Land		17,703			17,703
Leasehold Improvements		32,304			32,304
Machinery and Equipment		55,067			55,067
Vehicle					24,000
Total		241,765			241,765
Less: Accumulated Depreciation		(217,847	)		(216,890	)
Property, Plant and Equipment - net	$	23,918		$	24,875

NON-CURRENT ASSETS (Tables)

3 Months Ended

Mar. 31, 2024

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Other assets consisted of the following at March 31, 2024 and December 31, 2023:

	March 31, 2024		December 31, 2023
Other receivable		10,797		11,047
Rent deposits		18,941		23,941
Security deposits		5,491		5,491
Total Non-current assets		35,229		40,479

ACCOUNTS PAYABLE AND ACCRUED EXPENSES (Tables)

3 Months Ended

Mar. 31, 2024

Payables and Accruals [Abstract]

The accounts payable and accrued expenses consisted of the following at March 31, 2024 and December 31, 2023 :

	March 31, 2024		December 31, 2023
Accounts payable		573,771		561,551
Accrued expenses		29,964		27,534
Total		603,735		589,085

CONVERTIBLE DEBT (Tables)

3 Months Ended

Mar. 31, 2024

Debt Disclosure [Abstract]

Schedule of Convertible Debt

Convertible Debt Summary
	Debt Type	Debt Classification		Interest Rate	Due Date	Ending
	Debt Type	CT	LT	Interest Rate	Due Date	3/31/2024	12/31/2023

A	Convertible	X		10.0%	1-Jan-17	25,000	$ 25,000
B	Convertible		X	8.0%	31-Dec-25	82,391	82,391
C	Convertible		X	8.0%	31-Dec-25	41,195	41,195
D	Convertible		X	8.0%	31-Dec-25	262,156	262,156
O	Convertible		X	8.0%	31-Dec-25	136,902	136,902
P	Convertible		X	8.0%	31-Dec-25	66,173	66,173
Q	Convertible		X	8.0%	31-Dec-25	65,274	65,274
S	Convertible		X	8.0%	31-Dec-25	63,205	63,205
T	Convertible		X	8.0%	31-Dec-25	313,634	313,634
CC	Convertible	X		10.0%	1-Jan-25	100,000	100,000
KK	Convertible		X	8.0%	31-Dec-25	188,000	188,000
LL	Convertible		X	8.0%	31-Dec-25	749,697	749,697
MM	Convertible		X	8.0%	31-Dec-25	124,690	124,690
NN	Convertible		X	8.0%	31-Dec-25	622,588	622,588
OO	Convertible		X	8.0%	31-Dec-25	620,908	620,908
PP	Convertible		X	8.0%	31-Dec-25	611,428	611,428
QQ	Convertible		X	8.0%	31-Dec-25	180,909	180,909
RR	Convertible		X	8.0%	31-Dec-25	586,804	586,804
SS	Convertible		X	8.0%	31-Dec-25	174,374	174,374
TT	Convertible		X	8.0%	31-Dec-25	345,633	345,633
UU	Convertible		X	8.0%	31-Dec-25	171,304	171,304
VV	Convertible		X	8.0%	31-Dec-25	121,727	121,727
XX	Convertible		X	8.0%	31-Dec-25	112,734	112,734
YY	Convertible		X	8.0%	31-Dec-25	173,039	173,039
ZZ	Convertible		X	8.0%	31-Dec-25	166,603	166,603
AAA	Convertible		X	8.0%	31-Dec-25	104,641	104,641
BBB	Convertible		X	8.0%	31-Dec-25	87,066	87,066
DDD	Convertible		X	8.0%	31-Dec-25	75,262	75,262
EEE	Convertible		X	8.0%	31-Dec-25	160,619	160,619
GGG	Convertible		X	8.0%	31-Dec-25	79,422	79,422
JJJ	Convertible		X	8.0%	31-Dec-25	52,455	52,455
LLL	Convertible		X	8.0%	31-Dec-25	77,992	77,992
MMM	Convertible		X	8.0%	31-Dec-25	51,348	51,348
PPP	Convertible		X	8.0%	31-Dec-25	95,979	95,979
SSS	Convertible		X	8.0%	31-Dec-25	75,000	75,000
TTT	Convertible		X	8.0%	31-Dec-25	80,000	80,000
VVV	Convertible		X	8.0%	31-Dec-25	75,000	75,000
WWW	Convertible		X	8.0%	31-Dec-25	60,000	60,000
XXX	Convertible		X	8.0%	31-Dec-25	100,000	100,000
YYY	Convertible		X	8.0%	31-Dec-25	50,000	50,000
ZZZ	Convertible		X	8.0%	31-Dec-25	40,000	40,000
AAAA	Convertible		X	8.0%	31-Dec-25	66,000	66,000
BBBB	Convertible	X		12.0%	1-Mar-23	-	150,000
CCCC	Convertible	X		10.0%	1-Mar-23	-	120,000
DDDD	Convertible	X		10.0%	31-Dec-24	-	100,000
EEEE	Convertible		X	10.0%	25-Dec-25	15,000	-
FFFF	Convertible		X	10.0%	23-Jan-26	60,000	-
GGGG	Convertible		X	10.0%	12-Mar-26	150,000	-
HHHH	Convertible		X	10.0%	15-Mar-26	107,500	-

Total Convertible Debt						7,769,652	7,807,152
Less: Discount						(108,944)	(387,819)
Convertible Debt, Net of Discounts						$ 7,660,708	$ 7,419,333
Convertible Debt, Net of Discounts, Current						$ 125,000	$ 240,288
Convertible Debt, Net of Discounts, Long-term						$ 7,535,708	$ 7,179,045

NON-CONVERTIBLE DEBT (Tables)

3 Months Ended

Mar. 31, 2024

Non-convertible Debt

Schedule of Nonconvertible Debt

	March 31, 2024		December 31, 2023
Note 5	$	9,312	$	9,312
Note 6		500,000		500,000
Note 7		—		100,000
Note 8		—		15,000
Current non-convertible notes		9,312		124,312
Non-current convertible notes		500,000		500,000
Total non-convertible notes	$	509,312	$	624,312

Schedule Of Related Party Transactions

B-Related Party
Loan payable - Stockholder, 0%, Due December 31, 2025 (1)	$	250,000	$	250,000
	$	250,000	$	250,000

(1)

DERIVATIVE LIABILITIES (Tables)

3 Months Ended

Mar. 31, 2024

Derivative Liabilities

As a result of the application of ASC No. 815, the fair value of the ratchet feature related to convertible debt is summarized as follow:


Balance as of December 31, 2023	$	2,752,321
Change in Derivative values		621,921
Initial derivative		113,840
Balance as of March 31, 2024	$	3,488,082

WARRANTS (Tables)

3 Months Ended

Mar. 31, 2024

Warrants

Schedule Of Warrants

Schedule Of Warrants

	Warrants Issued	Weighted Average Exercise Price	Weighted Average Contract Terms Years
Balance as of December 31, 2022	316,158	0.4744455	0.36
Granted	-	-	-
Exercised	-	-	-
Expired	(316,158)	-	-
Balance as of December 31, 2023	-	-	-

COMMITMENTS AND CONTINGENCIES (Tables)

3 Months Ended

Mar. 31, 2024

Commitments and Contingencies Disclosure [Abstract]

Schedule Of Future Minimum Rental Payments For Operating Leases

Maturity of Lease Liabilities at March 31, 2024		Amount
	2024		13,053
	2025		—
	Total lease payments		13,053
	Less: Imputed interest		(349	)
	Present value of lease liabilities	$	12,704

Lessee, Operating Lease, Liability

Leased assets

Operating Lease Liability

As of March 31, 2024

Remaining months

Weighted average

remaining term

KAYA

12,704

Total

12,704

Schedule of Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis (Details) - USD ($)	Mar. 31, 2024	Dec. 31, 2023
Platform Operator, Crypto Asset [Line Items]
Derivative Liability	$ 621,921	$ 3,297,215
Fair Value, Inputs, Level 1 [Member]
Platform Operator, Crypto Asset [Line Items]
Cash	74,997	29,108
Net Assets	74,997	29,108
Derivative Assets (Liabilities), at Fair Value, Net	74,997	29,108
Fair Value, Inputs, Level 2 [Member]
Platform Operator, Crypto Asset [Line Items]
Cash
Net Assets
Fair Value, Inputs, Level 3 [Member]
Platform Operator, Crypto Asset [Line Items]
Net Assets
[custom:ConvertibleDebentures-0]	7,660,708	7,436,410
Derivative Liability	3,488,082	2,752,321
[custom:LiabilitiesNet-0]	11,148,790	10,188,731
Derivative Assets (Liabilities), at Fair Value, Net	$ (11,148,790)	$ (10,188,731)

Property, plant and equipment consisted of the following at December 31, 2023 and December 31, 2022: (Details) - USD ($)	Mar. 31, 2024	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
Computer	$ 30,713	$ 30,713
Furniture & Fixtures	56,978	56,978
HVAC	25,000	25,000
Land	17,703	17,703
Leasehold Improvements	32,304	32,304
Machinery and Equipment	55,067	55,067
Vehicle		24,000
Total	241,765	241,765
Less: Accumulated Depreciation	(217,847)	(216,890)
Property, Plant and Equipment - net	$ 23,918	$ 24,875

PROPERTY, PLANT AND EQUIPMENT (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Property, Plant and Equipment [Abstract]
Depreciation, Depletion and Amortization, Nonproduction	$ 957	$ 3,517
[custom:LossOfDisposalOfFixedAsset-0]	$ 516,076	$ 177,883

Other assets consisted of the following at March 31, 2024 and December 31, 2023: (Details) - USD ($)	Mar. 31, 2024	Dec. 31, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Other receivable	$ 10,797	$ 11,047
Rent deposits	18,941	23,941
Security deposits	5,491	5,491
Total Non-current assets	$ 35,229	$ 40,479

The accounts payable and accrued expenses consisted of the following at March 31, 2024 and December 31, 2023 : (Details) - USD ($)	Mar. 31, 2024	Dec. 31, 2023
Payables and Accruals [Abstract]
Accounts payable	$ 573,771	$ 561,551
Accrued expenses	29,964	27,534
Total	$ 603,735	$ 589,085

Schedule of Convertible Debt (Details) - USD ($)	3 Months Ended
Schedule of Convertible Debt (Details) - USD ($)	Mar. 31, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Tota lConvertible Debt	$ 7,769,652	$ 7,807,152
Convertible Notes Payable Long Term Net Of Discounts	(108,944)	(387,819)
Convertible Notes Payable Net Of Discount	7,660,708	7,419,333
[custom:ConvertibleDebtNetOfDiscountsCurrent-0]	125,000	240,288
Convertible Debt	$ 7,535,708	7,179,045
Convertible Debt A [Member]
Debt Instrument [Line Items]
Debt Instrument, interest rate during period	10.00%
Convertible Debt, Current	$ 25,000	25,000
Convertible Debt B [Member]
Debt Instrument [Line Items]
Debt Instrument, interest rate during period	8.00%
Convertible Debt, Current	$ 82,391	82,391
Convertible Debt C [Member]
Debt Instrument [Line Items]
Debt Instrument, interest rate during period	8.00%
Convertible Debt, Current	$ 41,195	41,195
Convertible Debt D [Member]
Debt Instrument [Line Items]
Debt Instrument, interest rate during period	8.00%
Convertible Debt, Current	$ 262,156	262,156
Convertible Debt O [Member]
Debt Instrument [Line Items]
Debt Instrument, interest rate during period	8.00%
Convertible Debt, Current	$ 136,902	136,902
Convertible Debt P [Member]
Debt Instrument [Line Items]
Debt Instrument, interest rate during period	8.00%
Convertible Debt, Current	$ 66,173	66,173
Convertible Debt Q [Member]
Debt Instrument [Line Items]
Debt Instrument, interest rate during period	8.00%
Convertible Debt, Current	$ 65,274	65,274
Convertible Debt S [Member]
Debt Instrument [Line Items]
Debt Instrument, interest rate during period	8.00%
Convertible Debt, Current	$ 63,205	63,205
Convertible Debt T [Member]
Debt Instrument [Line Items]
Debt Instrument, interest rate during period	8.00%
Convertible Debt, Current	$ 313,634	313,634
Convertible Debt C C [Member]
Debt Instrument [Line Items]
Debt Instrument, interest rate during period	10.00%
Convertible Debt, Current	$ 100,000	100,000
Convertible Debt K K [Member]
Debt Instrument [Line Items]
Debt Instrument, interest rate during period	8.00%
Convertible Debt, Current	$ 188,000	188,000
Convertible Debt L L [Member]
Debt Instrument [Line Items]
Debt Instrument, interest rate during period	8.00%
Convertible Debt, Current	$ 749,697	749,697
Convertible Debt M M [Member]
Debt Instrument [Line Items]
Debt Instrument, interest rate during period	8.00%
Convertible Debt, Current	$ 124,690	124,690
Convertible Debt N N [Member]
Debt Instrument [Line Items]
Debt Instrument, interest rate during period	8.00%
Convertible Debt, Current	$ 622,588	622,588
Convertible Debt O O [Member]
Debt Instrument [Line Items]
Debt Instrument, interest rate during period	800.00%
Convertible Debt, Current	$ 620,908	620,908
Convertible Debt P P [Member]
Debt Instrument [Line Items]
Debt Instrument, interest rate during period	8.00%
Convertible Debt, Current	$ 611,428	611,428
Convertible Debt Q Q [Member]
Debt Instrument [Line Items]
Debt Instrument, interest rate during period	8.00%
Convertible Debt, Current	$ 180,909	180,909
Convertible Debt R R [Member]
Debt Instrument [Line Items]
Debt Instrument, interest rate during period	8.00%
Convertible Debt, Current	$ 586,804	586,804
Convertible Debt S S [Member]
Debt Instrument [Line Items]
Debt Instrument, interest rate during period	8.00%
Convertible Debt, Current	$ 174,374	174,374
Convertible Debt T T [Member]
Debt Instrument [Line Items]
Debt Instrument, interest rate during period	8.00%
Convertible Debt, Current	$ 345,633	345,633
Convertible Debt U U [Member]
Debt Instrument [Line Items]
Debt Instrument, interest rate during period	8.00%
Convertible Debt, Current	$ 171,304	171,304
Convertible Debt V V [Member]
Debt Instrument [Line Items]
Debt Instrument, interest rate during period	8.00%
Convertible Debt, Current	$ 121,727	121,727
Convertible Debt X X [Member]
Debt Instrument [Line Items]
Debt Instrument, interest rate during period	8.00%
Convertible Debt, Current	$ 112,734	112,734
Convertible Debt Y Y [Member]
Debt Instrument [Line Items]
Debt Instrument, interest rate during period	8.00%
Convertible Debt, Current	$ 173,039	173,039
Convertible Debt Z Z [Member]
Debt Instrument [Line Items]
Debt Instrument, interest rate during period	8.00%
Convertible Debt, Current	$ 166,603	166,603
Convertible Debt A A A [Member]
Debt Instrument [Line Items]
Debt Instrument, interest rate during period	8.00%
Convertible Debt, Current	$ 104,641	104,641
Convertible Debt B B B [Member]
Debt Instrument [Line Items]
Debt Instrument, interest rate during period	8.00%
Convertible Debt, Current	$ 87,066	87,066
Convertible Debt D D D [Member]
Debt Instrument [Line Items]
Debt Instrument, interest rate during period	8.00%
Convertible Debt, Current	$ 75,262	75,262
Convertible Debt E E E [Member]
Debt Instrument [Line Items]
Debt Instrument, interest rate during period	8.00%
Convertible Debt, Current	$ 160,619	160,619
Convertible Debt G G G [Member]
Debt Instrument [Line Items]
Debt Instrument, interest rate during period	8.00%
Convertible Debt, Current	$ 79,422	79,422
Convertible Debt J J J [Member]
Debt Instrument [Line Items]
Debt Instrument, interest rate during period	8.00%
Convertible Debt, Current	$ 52,455	52,455
Convertible Debt L L L [Member]
Debt Instrument [Line Items]
Convertible Debt, Current	$ 77,992	77,992
Convertible Debt M M M [Member]
Debt Instrument [Line Items]
Debt Instrument, interest rate during period	8.00%
Convertible Debt, Current	$ 51,348	51,348
Convertible Debt P P P [Member]
Debt Instrument [Line Items]
Debt Instrument, interest rate during period	8.00%
Convertible Debt, Current	$ 95,979	95,979
Convertible Debt S S S [Member]
Debt Instrument [Line Items]
Debt Instrument, interest rate during period	8.00%
Convertible Debt, Current	$ 75,000	75,000
Convertible Debt T T T [Member]
Debt Instrument [Line Items]
Debt Instrument, interest rate during period	8.00%
Convertible Debt, Current	$ 80,000	80,000
Convertible Debt V V V [Member]
Debt Instrument [Line Items]
Debt Instrument, interest rate during period	8.00%
Convertible Debt, Current	$ 75,000	75,000
Convertible Debt W W W [Member]
Debt Instrument [Line Items]
Debt Instrument, interest rate during period	8.00%
Convertible Debt, Current	$ 60,000	60,000
Convertible Debt X X X [Member]
Debt Instrument [Line Items]
Debt Instrument, interest rate during period	8.00%
Convertible Debt, Current	$ 100,000	100,000
Convertible Debt Y Y Y [Member]
Debt Instrument [Line Items]
Debt Instrument, interest rate during period	8.00%
Convertible Debt, Current	$ 50,000	50,000
Convertible Debt Z Z Z [Member]
Debt Instrument [Line Items]
Debt Instrument, interest rate during period	8.00%
Convertible Debt, Current	$ 40,000	40,000
Convertible Debt A A A A [Member]
Debt Instrument [Line Items]
Debt Instrument, interest rate during period	8.00%
Convertible Debt, Current	$ 66,000	66,000
Convertible Debt B B B B [Member]
Debt Instrument [Line Items]
Debt Instrument, interest rate during period	12.00%
Convertible Debt, Current		150,000
Convertible Debt C C C C [Member]
Debt Instrument [Line Items]
Debt Instrument, interest rate during period	10.00%
Convertible Debt, Current		120,000
Convertible Debt D D D D [Member]
Debt Instrument [Line Items]
Debt Instrument, interest rate during period	10.00%
Convertible Debt, Current		$ 100,000
Convertible Debt E E E E [Member]
Debt Instrument [Line Items]
Debt Instrument, interest rate during period	10.00%
Convertible Debt, Current	$ 15,000
Convertible Debt F F F F [Member]
Debt Instrument [Line Items]
Debt Instrument, interest rate during period	10.00%
Convertible Debt, Current	$ 60,000
Convertible Debt G G G G [Member]
Debt Instrument [Line Items]
Debt Instrument, interest rate during period	10.00%
Convertible Debt, Current	$ 150,000
Convertible Debt H H H H [Member]
Debt Instrument [Line Items]
Debt Instrument, interest rate during period	10.00%
Convertible Debt, Current	$ 107,500

Schedule of Nonconvertible Debt (Details) - USD ($)	Mar. 31, 2024	Dec. 31, 2023
Non-convertible Debt
Note 5	$ 9,312	$ 9,312
Note 6	500,000	500,000
Note 7		100,000
Note 8		15,000
Current non-convertible notes	9,312	124,312
Non-current convertible notes	500,000	500,000
Total non-convertible notes	$ 509,312	$ 624,312

Schedule Of Related Party Transactions (Details) - USD ($)

Mar. 31, 2024

Dec. 31, 2023

Defined Benefit Plan Disclosure [Line Items]

Loan payable

$ 250,000

B Related Party [Member]

Defined Benefit Plan Disclosure [Line Items]

Loan payable

^[1]

$ 250,000

[1]

As a result of the application of ASC No. 815, the fair value of the ratchet feature related to convertible debt is summarized as follow: (Details) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Derivative Liabilities
Balance as of December 31, 2023	$ 2,752,321
Change in Derivative values	621,921	$ 0
Initial derivative	113,840
Balance as of March 31, 2024	$ 3,488,082

DERIVATIVE LIABILITIES (Details Narrative) - USD ($)	3 Months Ended	12 Months Ended
DERIVATIVE LIABILITIES (Details Narrative) - USD ($)	Mar. 31, 2024	Dec. 31, 2023
Derivative Liabilities
Initial derivative liabilities	$ 621,921	$ 0
Derivative liabilities	621,921	3,297,215
Repayments of debt	$ 0	$ 155,342

DEBT DISCOUNT (Details Narrative) - USD ($)	3 Months Ended		12 Months Ended
DEBT DISCOUNT (Details Narrative) - USD ($)	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023	Dec. 31, 2022
Debt Discount
Debt discount	$ 5,638	$ 181,543	$ 108,944	$ 742

STOCK OPTION PLAN (Details Narrative)	Sep. 15, 2022 shares
Incentive Stock Plan 2022 [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Remaining balance of the shares	450,000

Schedule Of Warrants (Details)	12 Months Ended
Schedule Of Warrants (Details)	Dec. 31, 2023 $ / shares shares
Weighted Average Contract Terms Years	4 months 9 days
Weighted Average Contract Terms Years
Warrants [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Non-Option Equity Instruments, Outstanding, Number, Beginning Balance	316,158
Weighted Average Exercise Price \| $ / shares	$ 0.4744455
Share-Based Compensation Arrangement by Share-Based Payment Award, Non-Option Equity Instruments, Granted
Share-Based Compensation Arrangement by Share-Based Payment Award, Non-Option Equity Instruments, Exercised
Share-Based Compensation Arrangement by Share-Based Payment Award, Non-Option Equity Instruments, Expirations	(316,158)
Share-Based Compensation Arrangement by Share-Based Payment Award, Non-Option Equity Instruments, Outstanding, Number, Ending Balance
Weighted Average Exercise Price \| $ / shares

Schedule Of Future Minimum Rental Payments For Operating Leases (Details)	Mar. 31, 2024 USD ($)
Commitments and Contingencies Disclosure [Abstract]
	$ 13,053

	13,053
	(349)
	$ 12,704

Lessee, Operating Lease, Liability (Details)	3 Months Ended
Lessee, Operating Lease, Liability (Details)	Mar. 31, 2024 USD ($)
Operating Lease Liability	$ 12,704
Kaya [Member]
Operating Lease Liability	$ 12,704
[custom:Remainingmonths]	6 months
Weigted average remaining term	6 years

Grafico Azioni Kaya (QB) (USOTC:KAYS)
Storico
Da Mag 2024 a Giu 2024

Grafico Azioni Kaya (QB) (USOTC:KAYS)
Storico
Da Giu 2023 a Giu 2024

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