TERM NOTES PAYABLE AND NOTES PAYABLE RELATED PARTIES | NOTE 5 – TERM NOTES PAYABLE AND NOTES PAYABLE RELATED PARTIES Term notes payable, including notes payable to related parties consisted of the following at June 30, 2022 and December 31, 2021 respectively: SCHEDULE OF NOTES PAYABLE June 30, 2022 December 31, 2021 2,804,779 Secured notes payable with related parties at 18 September 14, 2018 5,000,000 996 8,742 $ 2,804,779 $ 2,745,264 Total notes payable related parties $ 2,804,779 $ 2,745,264 Promissory note agreement to pay $ 67,500 July 15, 2022 8,036 0 59,464 - Unsecured convertible note payable at 4.5 December 20, 2017 payable in two parts on January 8, 2018 and 2019 166,667 166,667 Promissory Note at 7.7 18 August 15, 2022 525,000 525,000 Settlement agreement to pay $ 5,000 60 110,000 135,000 Total notes payable and convertible notes payable $ 861,131 $ 826,667 (1) On September 14, 2018, the Company entered into a loan agreement with a private company, Mabert LLC, acting as Agent for various private lenders (the “Loan Agreement”) for the purpose of funding working capital and general corporate expenses up to $ 1,500,000 5,000,000 0.01 initial one-time basis at 3.67:1 and subsequently on a 2:1 basis for each dollar borrowed. (2) On May 5, 2022, the Company entered into a promissory note agreement for $30,000 with David Snell, for funding of short-term operating expenses. The repayment of the loan in the amount of $67,500 is due on or before July 15, 2022. (3) On December 20, 2017, the Company issued a convertible promissory note for $166,667, fully payable by December 20, 2019. This loan is in default for breach of payment. By its terms, the cash interest payable increased to 18% per annum on December 20, 2018 and continues at such rate until the default is cured or is paid at term. See Note 6 – Notes Payable and Convertible Notes Payable. (4) On September 26, 2019, the Company entered into a Settlement Agreement with Southwest Capital Funding Ltd. (“ Southwest See Note 6 – Notes Payable and Convertible Notes Payable. (5) On March 6, 2019, the Company entered into Settlement Agreement with Wildcat Consulting Group LLC (“Wildcat”), as settlement of a consulting agreement lawsuit the Company agreed to pay Wildcat a total of $300,000, payable in sixty monthly installments of $5,000 per month beginning March 2019 and continuing each month until the settlement is paid in full. Under the Loan Agreement, various private lenders have loaned gross loan proceeds of $ 2,805,775 996 2,804,779 2,057,341 996 The private party loans with the Company are often established by converting the Company’s outstanding stockholder advances due to related parties into a new note payable under the Loan Agreement in the quarter following the advance. There have been instances in which private lenders, under the Loan Agreement, enter into loans directly with the Company (not through an advance). During the six months ended June 30, 2022, the Company received proceeds of $ 3,500 51,769 16,245 On January 1, 2021, the Company executed a Promissory Note under the Loan Agreement with Kevin Jones, a Director and shareholder for $ 142,934 18 285,868 0.03 8,014 On April 1, 2021, the Company executed a Promissory Note under the Loan Agreement with Michael Wykrent, a Director and shareholder for $ 70,000 18 140,000 0.03 3,962 On April 1, 2021, the Company executed a Promissory Note under the Loan Agreement with Kent Harer, a Director and shareholder for $ 5,000 18 10,000 0.03 283 On April 1, 2021, the Company executed a Promissory Note under the Loan Agreement with Kevin Jones, a Director and shareholder for $ 112,064 18 224,128 0.03 6,343 On July 1, 2021, the Company executed a Promissory Note under the Loan Agreement with Kevin Jones, a Director and shareholder for $ 99,250 18 198,500 0.07 12,189 On January 1, 2022, the Company executed a Promissory Note under the Loan Agreement with Kevin Jones, a Director and shareholder for $ 51,769 18 103,538 0.02 1,991 Each of the individual Promissory Notes have one-year terms, automatically renewable, unless an individual lender under the Loan Agreement notifies the agent within 60 days of the term that they would like payment of the principal and accrued interest upon the end of such promissory note term. No lenders requested payment for such individual promissory notes for the six-month period ended June 30, 2022. (2) On May 5, 2022, the Company entered into a promissory note agreement with David Snell for $ 30,000 67,500 July 15, 2022 29,464 (3) On December 20, 2017, the Company issued a convertible promissory note for $ 166,667 December 20, 2019 the cash interest payable increased to 18% per annum on December 20, 2018 and continues at such rate until the default is cured or is paid at term See Note 6 – Notes Payable and Convertible Notes Payable. (4) On September 26, 2019, the Company entered into a Settlement Agreement with Southwest Capital Funding Ltd. (“ Southwest 525,000 three-year 7.7 18 See Note 6 – Notes Payable and Convertible Notes Payable. (5) On March 6, 2019, the Company entered into Settlement Agreement with Wildcat Consulting Group LLC (“Wildcat”), as settlement of a consulting agreement lawsuit the Company agreed to pay Wildcat a total of $ 300,000 5,000 |