Convertible Notes and Accrued Interest Payable | Note 8 Convertible Notes and Accrued Interest Payable A summary of the convertible notes and accrued interest payable is as follow: Face Value Conversion Rate Interest rate Due Date Accrued Interest Carrying Value Dec 31 2020 Total Dec 31 2019 Total $ 10,000 $ 0.005 - - $ - $ 500 $ 500 $10,000 (a) $ 85,000 $ 0.01 - - - 50,800 50,800 85,000 (b) $ 50,000 $ 0.01 10 % 05/01/2022 2,500 50,000 52,500 - (c) $ 5,000 $ 0.01 10 % 05/01/2022 259 5,000 5,259 - (d) $ 12,500 $ 0.01 10 % 6/23/2021 457 7,500 7,957 - (d) $ 20,000 $ 0.04 - - - 20,000 20,000 20,000 $ 68,490 $ 0.05 - - - 68,490 68,490 48,490 (e) $ 25,000 $ 0.05 12 % - 19,682 25,000 44,682 41,690 (f) $ 25,000 $ 0.05 8 % - 31,797 25,000 56,797 54,797 (f) $ 23,438 $ 0.05 5 % - 16,113 23,438 39,551 37,789 (f) $ 649,000 $ 0.05 10 % Various 13,931 140,513 154,444 - (g) $ 75,000 $ 10 % Various 911 50,860 51,771 - (h) $ 85,650 $ 467,101 $ 552,751 $297,766 Less long-term portion 57,759 - Current portion $ 494,992 $297,766 All notes are unsecured and, except where specifically noted, are due on demand. Except for notes denoted below under (e), all accrued interest occurred in the twelve months ended December 31, 2020. No conversion shall result in the Holder holding in excess of 9.99% of the total issued and outstanding common stock of the Company at any time. (a) On October 28, 2020, $9,500 was converted into 1,900,000 common shares. (b) On July 23, 2020, $16,900 in debt and $950 in costs were converted into 1,785,000 common shares and on November 2, 2020, $17,300 was converted into 1,730,000 common shares. (c) The notes are convertible into common stock at the discretion of the Holder at the lesser of $0.01 or 50% of the lowest closing bid price for the Company’s stock during the 20 immediately preceding the date of delivery by Holder to the Company of the Conversion Notice. (d) The notes are convertible into common stock at the discretion of the Holder at 50% of the lowest closing bid price for the Company’s common stock during the 30 trading days immediately preceding the date of delivery by Holder to the Company of the Conversion Notice. (e) Included in this debt is $490 due to the former CEO. (f) On April 2, 2020, these notes terms were changed from non-convertible to convertible at $0.05 debt to 1 common share. They were also amended to include the above noted clause with respect to holding less than 9.99% of the issued and outstanding common stock. During the year ended December 31, 2020, interest accrued on this debt was $6,164 (2019 - $6,146). For comparative purposes, these amounts previously shown as debt payable as at December 31, 2019, have been reclassified as convertible debt. (g) Based on the intrinsic value of the beneficial conversion feature, as per FASB topic ASC 470-20 Debt with Conversion and other Options, Allocated to Amortized Accrued Equity Due Date as interest at 10% Total $ 30,000 03-31-2021 $ 18,651 $ 1,258 $ 19,909 100,000 07-20-2021 43,752 4,493 48,245 60,000 08-31-2021 20,232 2,121 22,353 20,000 09-30-2021 5,344 570 5,914 60,000 10-31-2021 11,826 1,282 13,108 50,000 10-31-2021 8,582 890 9,472 50,000 10-31-2021 8,582 890 9,472 10,000 11-04-2021 1,474 153 1,627 110,000 11-18-2021 12,354 1,266 13,620 55,000 11-19-2021 6,160 633 6,793 27,000 12-31-2021 1,336 148 1,484 27,000 12-31-2021 1,336 148 1,484 20,000 12-31-2021 696 71 767 30,000 12-31-2021 188 8 196 $ 649,000 $ 140,513 $ 13,931 $ 154,444 (h) Based on the intrinsic value of the beneficial conversion feature, as per FASB topic ASC 470-20 Debt with Conversion and other Options, Allocated to equity Due date Amortized as Interest Accrued Interest at 10% Total $ 10,714 07-31-2021 $ 2,772 $ 514 $ 17,572 10,714 08-31-2021 1,618 301 16,205 7,468 09-30-2021 366 96 17,994 $ 28,896 $ 4,756 $ 911 $ 51,771 |