| Schedule of substantial modification |
Convertible debt consists of the following: |
|
|
|
|
|
|
|
|
June 30,
2021
|
|
|
December 31,
2020
|
|
|
|
(Unaudited) |
|
|
|
|
1% Convertible notes payable, due July 31, 2021 (at June 30, 2021) |
|
$ |
240,000 |
|
|
$ |
240,000 |
|
|
|
|
|
|
|
|
|
|
11% Convertible note payable – HEP Investments, a related party. As of June 30, 2021 no notice of default has been received, and on that date all principal and associated accrued interest were converted into the Company’s common stock at $8.00 per share in accordance with the Debt Extension and Conversion Agreements |
|
|
- |
|
|
|
4,090,342 |
|
|
|
|
|
|
|
|
|
|
11% Convertible note payable – New Lenders; placed by Paulson. As of June 30, 2021 no notice of default has been received, and on that date all principal and associated accrued interest were converted into the Company’s common stock at $8.00 per share in accordance with the Debt Extension and Conversion Agreements |
|
|
- |
|
|
|
8,500,000 |
|
|
|
|
240,000 |
|
|
|
5,180,342 |
|
Less: Current portion |
|
|
240,000 |
|
|
|
5,180,342 |
|
Long term portion |
|
$ |
- |
|
|
$ |
- |
|
|