Notes Payable | 12. Notes payable On July 31, 2017, all the notes below were repaid in full. The Company issued 101,778 common shares by converting the debt at $3.00 per share. Related Parties: There were six (6) unsecured promissory notes bearing interest at 8% per annum which were due on demand to a shareholder of the Company. These promissory notes were repaid in full by converting into common shares of the Company at $3.00 per share. Date Principal Interest Total October 6, 2010 $ 3,000 $ 1,638 $ 4,638 February 22, 2011 1,500 773 2,273 May 17, 2011 7,500 3,727 11,227 September 16, 2011 5,000 2,351 7,351 November 4, 2011 5,000 2,297 7,297 December 14, 2012 13,000 4,647 17,647 Total $ 35,000 $ 15,433 $ 50,433 There were six (6) unsecured promissory notes bearing interest at 4% per annum which were due on demand due to shareholders of the Company. These promissory notes were repaid in full by converting into common shares of the Company at $3.00 per share. Date Principal Interest Total July 4, 2016 $ 1,000 $ 43 $ 1,043 July 12, 2016 25,000 1,052 26,052 September 15, 2016 20,000 699 20,699 December 22, 2016 13,901 337 14,238 January 13, 2017 10,000 218 10,218 March 08, 2017 30,000 477 30,477 Total $ 99,901 $ 2,826 $ 102,727 There was one (1) unsecured promissory note bearing interest at 8% per annum which was due on demand, and convertible at a conversion price of US$0.005 per share at the lender’s option. The convertible note was at the same interest rate as promissory notes that have no conversion feature. The promissory note was repaid in full by converting into common shares of the Company at $3.00 per share. Date Principal Interest Total September 04, 2013 $ 30,000 $ 9,376 $ 39,376 Unrelated Parties: There was one (1) unsecured promissory note bearing interest at 8% per annum which was due on demand. The promissory note was repaid in full by converting into common shares of the Company at $3.00 per share. Date Principal Interest Total March 15, 2012 $ 10,000 $ 4,305 $ 14,305 There were five (5) unsecured promissory notes bearing interest at 8% per annum which were due on demand, and convertible at a conversion price of US$0.005 per share at the lender’s option. The convertible notes were at the same interest rate as promissory notes that have no conversion feature. These promissory were repaid in full by converting into common shares of the Company at $3.00 per share. Date Principal Interest Total April 2, 2013 $ 14,000 $ 4,851 $ 18,851 October 15, 2013 15,000 4,554 19,554 January 8, 2014 10,000 2,849 12,849 December 3, 2014 20,000 4,261 24,261 September 22, 2015 20,000 2,976 22,976 Total $ 79,000 $ 19,491 $ 98,491 |