Annual report pursuant to Section 13 and 15(d)

Note 7 - Convertible Debt: Schedule of Convertible Debt (Tables)

v3.10.0.1
Note 7 - Convertible Debt: Schedule of Convertible Debt (Tables)
12 Months Ended
Dec. 31, 2018
Tables/Schedules  
Schedule of Convertible Debt

 

Convertible debt consists of the following:

 

 

 

December 31,

 

December 31,

 

 

2018

 

2017

 

 

 

 

(Revised)

1% Convertible notes payable, due January 2019

$

240,000

$

240,000

11% Convertible note payable – HEP Investments, LLC, a related party, net of unamortized discount and debt issuance costs of $1,562,425 and $4,335,873, respectively, due April 1, 2019 (September 30, 2018 at December 31, 2017)

 

16,788,215

 

12,075,967

11% Convertible note payable – New Lenders; placed by Paulson, due at various dates ranging from September 2018 to October 2019

 

950,000

 

1,250,000

 

 

17,978,215

 

13,565,967

Less: Current portion

 

17,978,215

 

1,490,000

Long term portion

$

-

$

12,075,967