Notes Payable | Note 7 Notes Payable The following are the various notes payable of the Company: PPP Loan - 294,066 1.0% 144,065.87 Promissory Notes were due May 2022 and June 2025 and the balance of $ 444,825 Nonconvertible notes, related party - 1,334,007 824,035 509,972 Schedule of Nonconvertible Notes Related Party Interest Rate Issuance Date Maturity 3/31/2021 4.00 % 12/31/2018 12/31/2020 55,250 4.00 % 12/31/2018 12/31/2020 66,900 4.00 % 12/31/2018 12/31/2020 74,220 4.00 % 9/30/2019 9/29/2021 314,000 4.00 % 9/17/2019 9/16/2020 81,500 4.00 % 9/30/2019 9/29/2021 12,450 1.00 % 12/31/2020 12/30/2022 254,382 1.00 % 12/31/2020 12/30/2022 235,600 1.00 % 12/31/2020 12/30/2022 99,970 1.00 % 12/31/2020 12/30/2022 83,785 4.00 % 12/31/2020 12/31/2021 53,100 4.00 % 12/31/2020 12/31/2021 2,850 1,334,007 Nonconvertible notes, non related- 1,919,620 1,745,000 174,620 Schedule of Nonconvertible Notes Non Related Interest Rate Default Rate Issuance Date Maturity 3/31/2021 14.00 % 8/1/18 1/31/20 500,000 14.00 % Additional 2 % 10/30/19 10/29/20 229,500 14.00 % N/A 2/5/2020 2/5/2021 51,000 20.00 % Additional 2 % 2/28/2020 8/27/2020 204,000 20.00 % Additional 2 % 2/25/2020 8/24/2020 208,000 20.00 % Additional 2 % 2/28/2020 8/27/2020 102,000 20.00 % Additional 2 % 4/14/2020 10/13/2020 102,000 14.00 % Additional 2 % 12/31/2019 12/31/2020 102,000 20.00 % Additional 2 % 4/24/2020 4/23/2021 20,000 20.00 % Additional 2 % 8/21/2020 8/20/2021 10,000 30.00 % Additional 2 % 10/29/2020 2/28/2021 25,500 - 12.00 % Additional 2 % 10/30/2020 11/1/2021 25,500 12.00 % Additional 2 % 10/30/2020 11/1/2021 25,500 2/5/2021 140,000 14.20 % 25.00 % 9/18/2019 9/18/2023 26,560 14.20 % 25.00 % 10/9/2019 10/9/2023 49,840 14.20 % 25.00 % 3/10/2020 3/10/2024 98,220 1,919,620 Convertible notes, related party 29,970 4 2 December 30, 2021 Maturity Date one the notes will bear interest at an annual rate of eight percent (8%). Convertible notes, non related 1,147,610 4% December 2020 Maturity Date one the notes will bear interest at an annual rate of eight percent (8%). December 2021 Upon commencement by the Company of an underwritten initial public offering (a “ Qualified IPO Common Stock Conversion Date Conversion Price SEC The notes payable outstanding balance is as follows: Schedule of Notes Payable Outstanding Balance March 31, 2021 March 31, 2020 PPP Loan 558,891 - Nonconvertible notes, related party 834,653 12,000 Nonconvertible notes, non related 1,745,000 Convertible notes, related party 29,970 6,546 Convertible notes, non related 1,107,143 Less: Non-current portion of PPP Loan (588,891 ) - No-current portion of nonconvertible notes-related party (509,972 ) - Non-current portion of nonconvertible notes, non related (174,620 ) - Current notes payable 3,002,174 18,546 |