Notes Payable | 4. NOTES PAYABLE The Company has convertible notes outstanding as at March 31, 2021 and are as follows: Start Date Maturity Date Rate Principal Interest Total Note 2 (1) 12-30-2016 12-30-2021 8 % 50,000 26,597 76,597 Note 3 (1) 12-30-2016 12-30-2021 8 % 21,500 11,437 32,937 Note 4 (1) 03-02-2017 03-02-2022 8 % 20,000 10,028 30,028 Note 5 (1) 06-08-2017 06-08-2022 8 % 10,000 4,530 14,530 Note 6 (2) 10-30-2017 10-30-2021 10 % 250,000 85,479 335,479 Note 7 (2)(3) 10-30-2017 10-30-2021 10 % - 8,938 8,938 Note 8 02-13-2019 08-12-2021 15 % 25,000 7,983 32,983 Note 9 02-22-2019 08-21-2021 15 % 225,000 71,014 296,014 Note 10 02-27-2019 08-26-2021 15 % 50,000 15,678 65,678 Note 11 03-12-2019 09-11-2021 15 % 25,000 7,706 32,706 Note 12 09-05-2019 08-11-2021 15 % 250,000 71,096 321,096 Note 13 (4) 11-15-2019 5 % 50,000 3,438 53,438 Note 14 (4) 07-18-2019 5 % 250,000 21,301 271,301 Note 15 (4) 08-09-2019 5 % 25,000 2,055 27,055 Note 16 (4) 09-13-2019 5 % 45,000 3,483 48,483 Note 17 (4) 10-04-2019 5 % 54,880 5,790 60,670 Note 18 (4) 11-19-2019 5 % - 1,223 1,223 Note 19 (4) 12-18-2019 5 % - 1,199 1,199 Note 20 (4) 01-09-2020 5 % 10,000 612 10,612 Total $ 1,361,380 $ 359,587 $ 1,720,967 (1) The principal of the note, and the interest calculated up to November 30, 2018, may be converted into shares of common stock of the Company at a conversion price of $0.03 per share. (2) The note may be converted into shares of common stock of the Company at a conversion price of $0.10 per share. (3) The principal of the note has been converted into equity with the remaining interest outstanding to be payable. (4) These promissory notes are un-secured and payable on demand with no maturity date Notes 1 through 5 were initially entered into with an interest rate of 18% per annum. On November 5, 2018, amendment agreements were signed amending the interest rate to 8% per annum effective December 1, 2018. The amendments also state that the interest is payable only in cash on a quarterly basis commencing December 1, 2018 on March 31, June 30, September 30, and December 31 of each year until the Maturity Date or earlier on the date that all amounts owing under this Note are prepaid by the Company. The principal, and the interest calculated until November 30, 2018, may still be converted to shares. The balances of the convertible notes outstanding as at December 31, 2020 were as follows: Start Date Maturity Date Rate Principal Interest Total Note 1 (1) 09-14-2015 09-14-2021 8 % $ 73,825 $ 54,999 $ 128,824 Note 2 (1) 12-30-2016 12-30-2021 8 % 50,000 25,611 75,611 Note 3 (1) 12-30-2016 12-30-2021 8 % 21,500 11,013 32,513 Note 4 (1) 03-02-2017 03-02-2022 8 % 20,000 9,633 29,633 Note 5 (1) 06-08-2017 06-08-2022 8 % 10,000 4,333 14,333 Note 6 (2) 10-30-2017 10-30-2021 10 % 250,000 79,315 329,315 Note 7 (2)(3) 10-30-2017 10-30-2021 10 % - 8,938 8,938 Note 8 02-13-2019 08-12-2021 15 % 25,000 7,058 32,058 Note 9 02-22-2019 08-21-2021 15 % 225,000 62,692 287,692 Note 10 02-27-2019 08-26-2021 15 % 50,000 13,829 63,829 Note 11 03-12-2019 09-11-2021 15 % 25,000 6,781 31,781 Note 12 09-05-2019 08-11-2021 15 % 250,000 61,849 311,849 Note 13 (4) 11-15-2019 5 % 50,000 2,822 52,822 Note 14 (4) 07-18-2019 5 % 250,000 18,219 268,219 Note 15 (4) 08-09-2019 5 % 25,000 1,747 26,747 Note 16 (4) 09-13-2019 5 % 45,000 2,928 47,928 Note 17 (4) 10-04-2019 5 % 54,880 4,666 59,546 Note 18 (4) 11-19-2019 5 % - 851 851 Note 19 (4) 12-18-2019 5 % - 767 767 Note 20 (4) 01-09-2020 5 % 10,000 489 10,489 Note 21 (4) 03-12-2019 12 % 26,000 321 26,321 Total $ 1,461,205 $ 378,861 $ 1,840,066 (1) (2) (3) (4) Based upon the balances as of March 31, 2021, the convertible notes and the related interest will come due in the following years: Principal Interest Total 2021 1,351,380 355,057 1,706,437 2022 10,000 4,530 14,530 Thereafter - - - Total $ 1,361,380 $ 359,587 $ 1,720,967 |