NOTE 6. NOTES PAYABLE | NOTE 6. NOTES PAYABLE The following tables summarize notes payable Type Original Amount Origination Date Maturity Date Effective Annual Interest Rate Balance at September 30, 2021 Balance at December 31, 2020 Note Payable (a)** $ 25,000 05/08/2017 06/30/2018 0 % $ 22,500 $ 27,500 Note Payable (b) $ 8,700 11/15/2018 06/30/2019 10 % $ - $ 8,700 Note Payable ** $ 118,644 05/05/2020 05/05/2021 8 % $ 110,644 $ 110,644 Note Payable (c) $ 199,500 10/01/2020 09/28/2021 66 % $ - $ 149,573 Note Payable (d) $ 126,000 11/03/2020 04/23/2021 166 % $ - $ 85,050 Note Payable (e) $ 113,980 11/04/2020 03/15/2021 210 % $ - $ 65,988 Note Payable (f) $ 177,800 01/02/2021 07/12/2021 116 % $ - $ - Note Payable (g) $ 111,920 03/09/2021 05/21/2021 220 % $ - $ - Note Payable (h) $ 29,686 03/09/2021 Demand 34 % $ - $ - Note Payable (i) $ 222,400 06/01/2021 Demand 181 % $ 76,985 $ - Note Payable (j) $ 87,000 06/29/2021 Demand 211 % $ 31,320 $ - Sub-total $ 241,449 $ 447,455 Debt discount $ (9,945 ) $ (63,075 ) Balance, net $ 231,504 $ 384,380 Less current portion $ (231,504 ) $ (384,380 ) Total long-term $ - $ - ** Currently in default a) On July 19, 2021, the Company repaid the principal amount of $ 5,000 22,500 b) On July 19, 2021, the Company repaid the principal amount of $ 8,700 0 c) On October 1, 2020, the Company sold future receivables with a non-related party for $ 199,500 53,250 146,250 3,841 30,642 0 d) On November 3, 2020, the Company sold future receivables with a non-related party for $ 126,000 39,650 86,350 1,050 18,944 85,050 0 e) On November 4, 2020, the Company sold future receivables with a non-related party for $ 113,980 , of which $ 34,440 was loan fees and original issue discount resulting in cash proceeds to the Company of $ 79,540 . The advance is to be repaid through $ 5,999 weekly payments. In connection with the advance, the Company granted the lender a security interest and all past, present and future assets of the Company. During the nine months ended September 30, 2021, $ 13,489 of the discount was amortized to expense, and the remaining $ 65,988 was repaid leaving a note balance of $ 0 . f) On January 2, 2021, the Company sold future receivables with a non-related party for $ 177,800 39,795 35,994 102,011 7,730 39,795 46,383 43,600 2,783 0 g) On March 9, 2021, the Company sold future receivables with a non-related party for $ 111,920 35,120 76,800 1,399 35,120 111,920 0 h) On March 9, 2021, the Company sold future receivables with a non-related party for $ 29,686 10,120 19,566 10,120 29,686 0 i) On June 1, 2021, the Company sold future receivables with a non-related party for $ 222,400 8,000 62,400 152,000 8,554 64,414 145,415 70,999 5,986 j) On June 29, 2021, the Company sold future receivables with a non-related party for $ 87,000 27,000 60,000 23,041 55,680 27,361 3,959 The following table summarizes notes payable, related parties Type Original Amount Origination Date Maturity Date Annual Interest Rate Balance at September 30, 2021 Balance at December 31, 2020 Note Payable, RP (k) $ 30,000 04/10/2018 01/15/2019 3 % $ - $ 30,000 Note Payable, RP (l) $ 380,000 06/20/2018 01/02/2020 8 % $ - $ 380,000 Note Payable, RP (m) $ 350,000 06/20/2018 01/02/2020 5 % $ - $ 285,214 Note Payable, RP (n)** $ 17,000 06/20/2018 01/02/2020 5 % $ 15,000 $ 17,000 Note Payable, RP ** $ 50,000 07/27/2018 11/30/2018 8 % $ 50,000 $ 50,000 Note Payable, RP (o) $ 5,000 10/09/2018 Demand 0 % $ - $ 5,000 Note Payable, RP (p) $ 5,000 10/19/2018 Demand 0 % $ 4,237 $ 5,000 Note Payable, RP ** $ 15,000 08/16/2019 02/16/2020 8 % $ 15,000 $ 15,000 Note Payable, RP (q) $ 2,000 02/11/2020 Demand 0 % $ - $ 2,000 Note Payable, RP (m) $ 84,034 02/16/2021 Demand 5 % $ 70,034 $ - Subtotal $ 154,271 $ 789,214 Debt discount $ - $ - Balance, net $ 154,271 $ 789,214 Less current portion $ (154,271 ) $ (789,214 ) Total long-term $ - $ - ** Currently in default k) During the nine-months ended September 30, 2021, the Company made several payments to repay the principal amount of $ 30,000 0 l) On February 16, 2021, the Company issued 2,663,299 380,000 26,153 74,572 328,919 m) On February 16, 2021, the Company issued 1,803,279 247,270 275,000 331,304 84,034 5 50,492 194,861 14,000 70,034 n) On July 15, 2021, the Company repaid the principal amount of $ 2,000 15,000 o) On September 23, 2021, the Company repaid the principal amount of $ 5,000 0 p) On September 23, 2021, the Company repaid the principal amount of $ 763 4,237 q) On September 23, 2021, the Company repaid the principal amount of $ 2,000 0 The following table summarizes convertible notes payable Type Original Amount Origination Date Maturity Date Annual Interest Rate Balance at September 30, 2021 Balance at December 31, 2020 Convertible Note Payable* ** $ 65,000 12/06/2018 12/06/2019 12 % $ 46 $ 46 Convertible Note Payable (r) $ 75,000 03/18/2019 12/13/2019 24 % $ - $ 177,795 Convertible Note Payable (s) $ 30,000 03/06/2020 03/05/2021 12 % $ - $ 21,662 Convertible Note Payable (t)* ** $ 150,000 04/10/2020 04/09/2021 12 % $ 65,000 $ 165,000 Convertible Note Payable (u) ** $ 300,000 08/27/2020 07/31/2021 12 % $ 270,000 $ 300,000 Convertible Note Payable (v) $ 53,500 09/22/2020 03/21/2022 12 % $ - $ 53,500 Convertible Note Payable (w) $ 87,500 09/24/2020 Demand 8 % $ 15,000 $ 40,000 Convertible Note Payable (x) $ 200,000 10/07/2020 10/06/2021 5 % $ 200,000 $ 200,000 Convertible Note Payable (y) $ 200,000 10/16/2020 10/15/2021 5 % $ 200,000 $ 200,000 Convertible Note Payable (z) $ 300,000 11/11/2020 11/10/2021 5 % $ 300,000 $ 300,000 Convertible Note Payable (aa) $ 150,000 12/29/2020 12/28/2021 5 % $ 150,000 $ 150,000 Convertible Note Payable (bb) $ 150,000 01/27/2021 01/27/2022 5 % $ 150,000 $ - Convertible Note Payable (cc) $ 128,000 02/22/2021 02/22/2022 12 % $ - $ - Convertible Note Payable (dd) $ 200,000 03/18/2021 03/18/2022 5 % $ 200,000 $ - Convertible Note Payable (ee) $ 83,000 03/26/2021 03/26/2022 12 % $ - $ - Convertible Note Payable (ff) $ 43,000 04/05/2021 04/05/2022 12 % $ - $ - Convertible Note Payable (gg) $ 200,000 04/14/2021 04/14/2022 5 % $ 200,000 $ - Convertible Note Payable (hh) $ 128,000 05/03/2021 05/03/2022 12 % $ 128,000 $ - Subtotal $ 1,876,046 $ 1,608,003 Debt discount $ (1,708 ) $ - Balance, net $ 1,876,338 $ 1,608,003 Less current portion $ (1,876,338 ) $ (1,554,503 ) Total long-term - 53,500 * Embedded conversion feature accounted for as a derivative liability at period end r) During the nine months ended September 30, 2021, the Company repaid $ 70,000 40,000 8,000,000 124,000 20,364 s) On May 7, 2021, the Company deemed in the best interest to settle the convertible debt with a non-related party and allow for the cashless exercise to purchase 1,921,875 0.032 60,072,853 36,994 15,174 36,836 3,657 36,994 1,921,875 34,594 31,095 t) On April 10, 2020, the Company entered into a convertible promissory note with a non-related party for $ 150,000 18,000 132,000 12 The embedded conversion option qualified for derivative accounting and bifurcation under ASC 815-15. The initial fair value of the conversion feature was $ 507,847 132,000 375,847 15,000 165,000 100,000 65,000 u) During the nine months ended September 30, 2021, the Company repaid $ 30,000 270,000 v) On September 22, 2020, the Company entered into a convertible promissory note with a non-related party for $ 53,500 3,500 50,000 12 53,500 25,882 w) During the nine months ended September 30, 2021 the Company issued 25,000,000 25,000 15,000 15,000,000 15,000 x) On October 7, 2020, the Company entered into a convertible promissory note with a non-related party for $ 200,000 5 y) On October 16, 2020, the Company entered into a convertible promissory note with a non-related party for $ 200,000 5 z) On November 11, 2020, the Company entered into a convertible promissory note with a non-related party for $ 300,000 5 aa) On December 29, 2020, the Company entered into a convertible promissory note with a non-related party for $ 150,000 5 bb) On January 27, 2021, the Company entered into a convertible promissory note with a non-related party for $ 150,000 5 cc) On February 22, 2021, the Company entered into a convertible promissory note with a non-related party for $ 128,000 3,000 125,000 12 128,000 51,000 dd) On March 18, 2021, the Company entered into a convertible promissory note with a non-related party for $ 200,000 5 ee) On March 26, 2021, the Company entered into a convertible promissory note with a non-related party for $ 83,000 3,000 80,000 12 83,000 39,694 ff) On April 5, 2021, the Company entered into a convertible promissory note with a non-related party for $ 43,000 3,000 40,000 12 43,000 12,270 gg) On April 14, 2021, the Company entered into a convertible promissory note with a non-related party for $ 200,000 5 hh) On May 3, 2021, the Company entered into a convertible promissory note with a non-related party for $ 128,000 3,000 125,000 12 128,000 61,952 |