Annual report pursuant to Section 13 and 15(d)

NOTE 8 - CONVERTIBLE DEBT: Schedule of Convertible Debt (Tables)

v3.20.4
NOTE 8 - CONVERTIBLE DEBT: Schedule of Convertible Debt (Tables)
12 Months Ended
Dec. 31, 2020
Tables/Schedules  
Schedule of Convertible Debt

 

 

 

December 31,

 

December 31,

 

 

2020

 

2019

1% Convertible notes payable, due January 2021

$

240,000

$

240,000

11% Convertible note payable – HEP Investments, LLC, a related party, net of unamortized discount and debt issuance costs of $-0- and $-0-, respectively, due June 30, 2019 (as of December 31, 2020 no notice of default has been received)

 

4,090,342

 

4,090,342

11% Convertible note payable – New Lenders; placed by Paulson, due at various dates ranging from September 2018 to October 2019 (as of December 31, 2020 no notice of default has been received)

 

850,000

 

950,000

 

 

5,180,342

 

5,280,342

 

 

 

 

 

Less: Current portion

 

5,180,342

 

5,280,342

Long term portion

$

-

$

-