Notes Payable | NOTE 5 – NOTES PAYABLE Note payable March 31, 2020 December 31, 2019 Accrued Accrued Principal Interest Total Principal Interest Total David Vincent $ - $ - $ - $ 20,000 $ 3,595 $ 23,595 David Vincent - - - 40,000 6,707 46,707 Joseph B. Frost 40,000 16,696 56,696 40,000 4,252 44,252 Joseph B. Frost 500 56 556 500 6 506 Joseph B. Frost 10,000 3,346 13,346 10,000 833 10,833 Joseph B. Frost 13,000 4,272 17,272 13,000 1,012 14,012 David Vincent - - - 5,000 48 5,048 David Vincent - - - 15,000 26 15,026 Robert Kanuth 6,514 480 6,994 - - - Robert Kanuth 6,544 449 6,993 - - - Robert Kanuth 10,000 431 10,431 - - - Robert Kanuth - 96 96 - - - Robert Kanuth - 691 691 - - - Robert Kanuth - 176 176 - - - Robert Kanuth 20,000 912 20,912 - - - Robert Kanuth 10,000 506 10,506 - - - Robert Kanuth 30,000 1,098 31,098 - - - Robert Kanuth 8,000 269 8,269 - - - Robert Kanuth 70,000 2,224 72,224 - - - Robert Kanuth 9,000 253 9,253 - - - Robert Kanuth 20,000 465 20,465 - - - Robert Kanuth 10,000 195 10,195 - - - Robert Kanuth 4,860 56 4,916 - - - Robert Kanuth 10,000 75 10,075 - - - Robert Kanuth 30,000 92 30,092 - - - Robert Kanuth 3,129 1 3,130 - - - Total $ 311,547 $ 32,839 $ 344,386 $ 143,500 $ 16,479 $ 159,979 On February 7, 2018, Vincent, the Company’s majority shareholder and director, loaned the Company $20,000 in the form of a promissory note. The note bears interest of 20% and has the term of one year, at which time all principal and interest will be paid in a balloon payment. On January 10, 2019, this note and accrued interest was converted into common stock. On March 2, 2018, Frost, a director, loaned the Company $40,000 in the form of a promissory note. The note bears interest of 20% and has the term of one year, at which time all principal and interest will be paid in a balloon payment. As of March 31, 2020, this note is in default and the accrued interest was $16,696, and the principal balance was $40,000. On June 21, 2018, Vincent formalized various advances to the Company in the amount of $40,000 in the form of a promissory note. The note bears interest of 20% and has the term of one year, at which time all principal and interest will be paid in a balloon payment. On January 10, 2019, this note and accrued interest was converted into common stock. On July 30, 2018, Frost, a director, loaned the Company $10,000 in the form of a promissory note. The note bears interest of 20% and has the term of one year, at which time all principal and interest will be paid in a balloon payment. As of March 31, 2020, the accrued interest was $3,346, the principal balance was $10,000, and the note is in default. On August 10, 2018, Frost, a director, loaned the Company $13,000 in the form of a promissory note. The note bears interest of 20% and has the term of six months, at which time all principal and interest will be paid in a balloon payment. As of March 31, 2020, this note is in default and the accrued interest was $4,272, the principal balance was $13,000, and the note is in default. On November 5, 2018, Frost, a director, loaned the Company $500 in the form of a promissory note. The note bears interest of 8% and has the term of six months, at which time all principal and interest will be paid in a balloon payment. As of March 31, 2020, the accrued interest was $56, and the principal balance was $500. On November 8, 2018, Vincent, a director, loaned the Company $5,000 in the form of a promissory note. The note bears interest of 8% and has the term of six months, at which time all principal and interest will be paid in a balloon payment. On January 10, 2019, this note and accrued interest was converted into common stock. On December 24, 2018, Vincent, a director, loaned the Company $15,000 in the form of a promissory note. The note bears interest of 8% and has the term of six months, at which time all principal and interest will be paid in a balloon payment. On January 10, 2019, this note and accrued interest was converted into common stock. On January 9, 2019, Kanuth, an officer and director, loaned the Company $13,736 in the form of a promissory note. The note bears interest of 8% and has the term of one year, at which time all principal and interest will be paid in a balloon payment. On July 15, 2019, the principal of $13,736 and accrued interest of $798 was converted into common stock of the Company. On January 17, 2019, Kanuth, an officer and director, loaned the Company $8,156 in the form of a promissory note. The note bears interest of 8% and has the term of one year, at which time all principal and interest will be paid in a balloon payment. On July 15, 2019, the principal of $8,156 and accrued interest of $320 was converted into common stock of the Company. On January 24, 2019, Kanuth, an officer and director, loaned the Company $11,000 in the form of a promissory note. The note bears interest of 8% and has the term of one year, at which time all principal and interest will be paid in a balloon payment. On July 15, 2019, the principal of $11,000 and accrued interest of $319 was converted into common stock of the Company. As of March 31, 2020, the principal was $0 and the accrued interest not converted was $96. On April 7, 2020, the balance was converted into common stock of the Company (see Note 9). On February 4, 2019, Kanuth, an officer and director, loaned the Company $13,197 in the form of a promissory note. The note bears interest of 8% and has the term of one year, at which time all principal and interest will be paid in a balloon payment. On July 15, 2019, the principal of $13,197 was converted into common stock of the Company. As of March 31, 2020, the principal was $0 and the accrued interest was $691. On April 7, 2020, the balance was converted into common stock of the Company (see Note 9). On February 4, 2019, Kanuth, an officer and director, loaned the Company $5,000 in the form of a promissory note. The note bears interest of 8% and has the term of one year, at which time all principal and interest will be paid in a balloon payment. On July 15, 2019, the principal of $5,000 was converted into common stock of the Company. As of March 31, 2020, the principal was $0 and the accrued interest was $176. On April 7, 2020, the balance was converted into common stock of the Company (see Note 9). On March 1, 2019, Kanuth, an officer and director, loaned the Company $10,000 in the form of a promissory note. The note bears interest of 8% and has the term of one year, at which time all principal and interest will be paid in a balloon payment. On July 15, 2019, the principal of $10,000 and accrued interest of $298 was converted into common stock of the Company. On March 6, 2019, Kanuth, an officer and director, loaned the Company $3,033 in the form of a promissory note. The note bears interest of 8% and has the term of one year, at which time all principal and interest will be paid in a balloon payment. On July 15, 2019, the principal of $3,033 and accrued interest of $80 was converted into common stock of the Company. On March 25, 2019, Kanuth, an officer and director, loaned the Company $13,692 in the form of a promissory note. The note bears interest of 8% and has the term of one year, at which time all principal and interest will be paid in a balloon payment. On July 15, 2019, the principal of $13,692 and accrued interest of $336 was converted into common stock of the Company. On April 30, 2019, Kanuth, an officer and director, loaned the Company $6,514 in the form of a promissory note. The note bears interest of 8% and has the term of one year, at which time all principal and interest will be paid in a balloon payment. As of March 31, 2020, the principal was $6,514 and the accrued interest was $480. On April 7, 2020, the balance was converted into common stock of the Company (see Note 9). On May 23, 2019, Kanuth, an officer and director, loaned the Company $6,544 in the form of a promissory note. The note bears interest of 8% and has the term of one year, at which time all principal and interest will be paid in a balloon payment. As of March 31, 2020, the principal was $6,544 and the accrued interest was $449. On April 7, 2020, the balance was converted into common stock of the Company (see Note 9). On August 13, 2019, Kanuth, an officer and director, loaned the Company $10,000 in the form of a promissory note. The note bears interest of 8% and has the term of one year, at which time all principal and interest will be paid in a balloon payment. As of March 31, 2020, the principal was $10,000 and the accrued interest was $506. On April 7, 2020, the balance was converted into common stock of the Company (see Note 9). On September 5, 2019, Kanuth, an officer and director, loaned the Company $20,000 in the form of a promissory note. The note bears interest of 8% and has the term of one year, at which time all principal and interest will be paid in a balloon payment. As of March 31, 2020, the principal was $20,000 and the accrued interest was $912. On April 7, 2020, the balance was converted into common stock of the Company (see Note 9). On September 16, 2019, Kanuth, an officer and director, loaned the Company $10,000 in the form of a promissory note. The note bears interest of 8% and has the term of one year, at which time all principal and interest will be paid in a balloon payment. As of March 31, 2020, the principal was $10,000 and the accrued interest was $431. On April 7, 2020, the balance was converted into common stock of the Company (see Note 9). On October 16, 2019, Kanuth, an officer and director, loaned the Company $30,000 in the form of a promissory note. The note bears interest of 8% and has the term of one year, at which time all principal and interest will be paid in a balloon payment. As of March 31, 2020, the principal was $30,000 and the accrued interest was $1,098. On April 7, 2020, the balance was converted into common stock of the Company (see Note 9). On October 31, 2019, Kanuth, an officer and director, loaned the Company $8,000 in the form of a promissory note. The note bears interest of 8% and has the term of one year, at which time all principal and interest will be paid in a balloon payment. As of March 31, 2020, the principal was $8,000 and the accrued interest was $269. On April 7, 2020, the balance was converted into common stock of the Company (see Note 9). On November 8, 2019, Kanuth, an officer and director, loaned the Company $70,000 in the form of a promissory note. The note bears interest of 8% and has the term of one year, at which time all principal and interest will be paid in a balloon payment. As of March 31, 2020, the principal was $70,000 and the accrued interest was $2,224. On April 7, 2020, the balance was converted into common stock of the Company (see Note 9). On November 25, 2019, Kanuth, an officer and director, loaned the Company $9,000 in the form of a promissory note. The note bears interest of 8% and has the term of one year, at which time all principal and interest will be paid in a balloon payment. As of March 31, 2020, the principal was $9,000 and the accrued interest was $253. On April 7, 2020, the balance was converted into common stock of the Company (see Note 9). On December 17, 2019, Kanuth, an officer and director, loaned the Company $20,000 in the form of a promissory note. The note bears interest of 8% and has the term of one year, at which time all principal and interest will be paid in a balloon payment. As of March 31, 2020, the principal was $20,000 and the accrued interest was $399. On April 7, 2020, the balance was converted into common stock of the Company (see Note 9). On January 3, 2020, Kanuth, an officer and director, loaned the Company $10,000 in the form of a promissory note. The note bears interest of 8% and has the term of one year, at which time all principal and interest will be paid in a balloon payment. As of March 31, 2020, the principal was $10,000 and the accrued interest was $195. On April 7, 2020, the balance was converted into common stock of the Company (see Note 9). On February 8, 2020, Kanuth, an officer and director, loaned the Company $4,860 in the form of a promissory note. The note bears interest of 8% and has the term of one year, at which time all principal and interest will be paid in a balloon payment. As of March 31, 2020, the principal was $4,860 and the accrued interest was $56. On April 7, 2020, the balance was converted into common stock of the Company (see Note 9). On February 26, 2020, Kanuth, an officer and director, loaned the Company $10,000 in the form of a promissory note. The note bears interest of 8% and has the term of one year, at which time all principal and interest will be paid in a balloon payment. As of March 31, 2020, the principal was $10,000 and the accrued interest was $75. On April 7, 2020, the balance was converted into common stock of the Company (see Note 9). On March 18, 2020, Kanuth, an officer and director, loaned the Company $30,000 in the form of a promissory note. The note bears interest of 8% and has the term of one year, at which time all principal and interest will be paid in a balloon payment. As of March 31, 2020, the principal was $30,000 and the accrued interest was $92. On April 7, 2020, the balance was converted into common stock of the Company (see Note 9). On March 31, 2020, Kanuth, an officer and director, loaned the Company $3,129 in the form of a promissory note. The note bears interest of 8% and has the term of one year, at which time all principal and interest will be paid in a balloon payment. As of March 31, 2020, the principal was $3,129 and the accrued interest was $1. On April 7, 2020, the balance was converted into common stock of the Company (see Note 9). |