Quarterly report pursuant to Section 13 or 15(d)

CONVERTIBLE DEBT (Tables)

v3.22.1
CONVERTIBLE DEBT (Tables)
9 Months Ended
Sep. 30, 2021
CONVERTIBLE DEBT  
Schedule of substantial modification

Convertible debt consists of the following:

 

 

 

 

 

 

 

 

September 30,

2021

 

 

December 31,

2020

 

 

 

(Unaudited)

 

 

 

1% Convertible notes payable, due October 31, 2021 (at September 30, 2021)

 

$ 240,000

 

 

$ 240,000

 

 

 

 

 

 

 

 

 

 

11% Convertible note payable – HEP Investments, a related party. As of June 2, 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 2, 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

 

 

-

 

 

 

850,000

 

 

 

 

240,000

 

 

 

5,180,342

 

Less: Current portion

 

 

240,000

 

 

 

5,180,342

 

Long term portion

 

$ -

 

 

$ -