| Schedule of Notes Payable |
As of June 30, 2020, fixed
rate notes payable outstanding totaled $1,860,903, of which $724,903 is past maturity.
| |
|
June 30,
2020 |
|
|
December 31, 2019 |
|
| |
|
|
|
|
|
|
| Notes payable at beginning of period |
|
$ |
6,874,795 |
|
|
$ |
8,158,198 |
|
| Notes payable issued |
|
|
717,918 |
|
|
|
2,101,000 |
|
| Loan fees added to note payable |
|
|
82,082 |
|
|
|
91,250 |
|
| Repayments of notes payable in cash |
|
|
(13,000 |
) |
|
|
(235,000 |
) |
| Less amounts converted to redeemable notes |
|
|
- |
|
|
|
(67,500 |
) |
| Less amounts exchanged to fixed rate notes |
|
|
(283,000 |
) |
|
|
- |
|
| Less amounts converted to stock |
|
|
(1,141,066 |
) |
|
|
(3,173,153 |
) |
| Notes payable at end of period |
|
|
6,237,729 |
|
|
|
6,874,795 |
|
| Less debt discount |
|
|
(31,638 |
) |
|
|
(12,649 |
) |
| |
|
$ |
6,206,091 |
|
|
$ |
6,862,146 |
|
| |
|
|
|
|
|
|
|
|
| Notes payable issued to related parties |
|
$ |
152,000 |
|
|
$ |
165,000 |
|
| Notes payable issued to non-related party |
|
$ |
6,054,091 |
|
|
$ |
6,697,146 |
|
|
| Schedule of Maturity Dates of Notes Payable |
The maturity dates on the notes-payable are as follows:
| |
|
Notes to |
|
|
|
|
| 12 months ending, |
|
Related parties |
|
|
Non-related parties |
|
|
Total |
|
| |
|
|
|
|
|
|
|
|
|
| Past due |
|
$ |
152,000 |
|
|
$ |
888,729 |
|
|
$ |
1,040,729 |
|
| June 30, 2021 |
|
|
- |
|
|
|
5,197,000 |
|
|
|
5,197,000 |
|
| |
|
$ |
152,000 |
|
|
$ |
6,085,729 |
|
|
$ |
6,237,729 |
|
|