Notes Payable and Note payable-other | Note 7 – Notes Payable and Note payable-other Notes payable consists of notes payable from our subsidiary, notes payable-other, convertible notes payable, notes payable for stock purchases under Reg A, short term notes payable, and notes payable-BOAPIN portal, as follows: Schedule of short term notes payable September 30, June 30, 2023 2023 Notes from subsidiary $ 158,333 $ 158,333 Notes payable - Reg A deposits 140,000 140,000 Short term bridge loan 100,000 100,000 Total notes payable $ 398,333 $ 398,333 Notes Payable - subsidiary The Company has various loans and credit lines outstanding. The credit line carries an interest rate of 6.24 9.24 10.90 Schedule of notes payable September 30, June 30, 2023 2023 Wells Fargo Loan $ 8,770 $ 8,770 On Deck Loan 139,569 139,569 Prosper Loans 9,994 9,994 $ 158,333 $ 158,333 Short term bridge loan - COHEN On July 31, 2020, the Company secured a $ 500,000 12 12 On August 19, 2021, the Company repaid $ 300,000 100,000 At September 30, 2023 and June 30, 2023, the Company recorded a short term note payable of $ 100,000 3,000 3,000 91,677 88,677 Note payable – stock purchases under Reg A At September 30, 2023 and June 30, 2023, the Company has recorded $ 140,000 140,000 2,700 2,700 25,807 23,107 Note Payable – Other In November, 2016, the Company secured a $ 50,000 4 1,000,000 During the three months ended September 30, 2023 and September 30, 2022, the Company recorded interest expense of $ 500 500 13,782 13,282 Convertible note payable – BENZA, D2CF On March 1, 2016 and March 3, 2016, the Company closed a private placement of debt and received an aggregate of $ 612,500 13,750 660,000 On July 21, 2023, the Company entered into settlement agreements with the principals of the company. In the Nevada Lawsuit (see Note 10), the Company agreed to settle for $345,000, with $145,000 paid upon signing and $200,000 due within 6 months. The Settlement Agreement allows for an increased payment of $600,000 if the Second Nevada Settlement Payment isn’t made within six months. In the New York Lawsuit (see Note 10), the Company will pay $80,000, with $10,000 due upon execution of the Settlement. Payments received by the Company will be applied first to the Second New York Payment. On July 26, 2023 the company paid $145,000 to Benza and $10,000 to GQR Consultant as per the settlement agreement (see Note 12). As of September 30, 2023 and June 30, 2023, the Company reported $ 518,750 673,750 Convertible Note – Leonite Capital, LLC On December 5, 2022, the Company received $ 250,000 1,000,000 62,500 March 5, 2024 8,789 270,635 246,148 The Company will begin making nine equal amortization payments of $ 34,722 commencing in the month of July 2023. The Company is required to issue 15,000,000 commitment shares valued at $ 78,000 to Leonite of which $ 28,064 was charged to common stock to be issued. In addition, the Company also paid Leonite $ 10,000 for legal fees incurred by Leonite related to this transaction. The commitment shares and the legal fees have been recorded as deferred debt issuance costs totaling $ 59,936 . The Company amortized $ 11,987 of the deferred debt issuance costs during the three months ended September 30, 2023, and the Company also amortized $ 12,500 of the original issue discount during the three months ended September 30, 2023. The Leonite Convertible Note bears annual interest at the greater of 10 % or the Prime Rate plus three percent (3%). The Leonite Convertible Note is convertible into shares of the Company’s common stock at a conversion price equal to $ 0.007 per share with anti-dilution features. Credit line – MediPendant New York Inc. On September 30, 2014, the subsidiary received a line of credit with Medi Pendant New York, Inc. (“MNY). Under the original terms of the line of credit agreement, the Company was able to borrow up to $ 300,000 6.5 September 30, 2017 500,000 200,000 25,653 8,436 397,500 As of September 30, 2023 and June 30, 2023, the balance due on the line of credit was $ 0 397,500 Debt settlement – On Deck, Susquehanna, MCA Cure In 2019, our subsidiary engaged MCA CURE to negotiate settlements with two creditors: On Deck and Susquehanna Salt, noted in the table above. The Company ceased paying the loan payments and paid to MCA Cure $ 43,875 47,000 90,875 0 0 139,569 139,569 0 0 |