Annual report pursuant to Section 13 and 15(d)

CONVERTIBLE DEBT (Tables)

v3.22.1
CONVERTIBLE DEBT (Tables)
12 Months Ended
Dec. 31, 2021
CONVERTIBLE DEBT  
Schedule of substantial modification

 

 

December 31,

 

 

December 31,

 

 

 

2021

 

 

2020

 

1% Convertible notes payable, due January 2022

 

$ 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

 

 

-

 

 

 

4,090,342

 

11% Convertible note payable – New Lenders; placed by Paulson

 

 

-

 

 

 

850,000

 

 

 

 

240,000

 

 

 

5,180,342

 

 

 

 

 

 

 

 

 

 

Less: Current portion

 

 

240,000

 

 

 

5,180,342

 

Long term portion

 

$ -

 

 

$ -