Quarterly report pursuant to Section 13 or 15(d)

NOTE 6 - CONVERTIBLE DEBT: Schedule of Convertible Debt (June 30 2020 unaudited) (Tables)

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NOTE 6 - CONVERTIBLE DEBT: Schedule of Convertible Debt (June 30 2020 unaudited) (Tables)
9 Months Ended
Sep. 30, 2020
Tables/Schedules  
Schedule of Convertible Debt (June 30 2020 unaudited)

 

Convertible debt consists of the following:

 

 

 

 

 

 

September 30,

2020

(Unaudited)

 

December 31,

2019

1% Convertible notes payable, due November 30, 2020 (at September 30, 2020)

$

240,000

$

240,000

 

 

 

 

 

11% Convertible note payable – HEP Investments LLC, a related party, past due September 30, 2019 (as of September 30, 2020 no notice of default has been received)

 

4,090,342

 

4,090,342

 

 

 

 

 

11% Convertible note payable – New Lenders; placed by Paulson, past due at various dates ranging from September 2018 to October 2019 (as of September 30, 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

$

-

$

-