Current Convertible Notes Payable and Other Notes Payable

3 Months Ended

Mar. 31, 2023

Current Convertible Notes Payable and Other Notes Payable

Current Convertible Notes Payable and Other Notes Payable

5. Current Convertible Notes Payable and Other Notes Payable

As of March 31, 2023, and December 31, 2022, the amount of Current convertible and other notes payable totaled $1,060,526 and $1,260,526, respectively. The details of the convertible notes payable and other notes payable are shown in the table below:

Payee	No.	Effective Date	Due Date	From Effective	Following Maturity	Conversion Rate	Issuing Purpose	As of 12/31/2022	Addition	Payment	As of 3/31/2023		Accrued Interest
Current Convertible Notes Payable:
Stephen Chen	#1.16	1/30/2016	Payable on demand	0.75%	N/A	$ 2.52	working capital	114,026	-	-	114,026	6,905
Stephen Chen	#2.16	3/18/2016	Payable on demand	0.65%	N/A	$ 2.81	working capital	262,500	-	-	262,500	12,004
Total convertible notes payable- related parties								376,526	-	-	376,526	18,909
Non-Convertible Notes Payable:
Ainos KY	#26.22 (2)	3/4/2022	3/31/2023	1.85%	N/A	N/A	working capital	800,000	-	(200,000)	600,000	11,952
			Non-convertible notes payable-related party					800,000	-	(200,000)	600,000	11,952
i2 China	#8b.20	1/1/2020	1/1/2021	1.85%	N/A	N/A	consulting fee	84,000	-	-	84,000	5,109
			Non-Convertible Notes payable- non-related party					84,000	-	-	84,000	5,109
			Total non-convertible notes payable					884,000	-	(200,000)	684,000	17,061
		Total convertible and non-convertible						1,260,526	-	(200,000)	1,060,526	35,970

All of the aforementioned convertible promissory notes and other notes payable are unsecured and due on demand upon maturity. The Company may prepay the notes in whole or in part at any time. The holder of convertible notes has the option to convert some or all of the unpaid principal and accrued interest to our common voting stock.

The total interest expense of convertible notes payable and other notes payable for the three months ended March 31, 2023, and 2022 were $3,810 and $15,883, respectively; the cumulative related accrued interest as of March 31, 2023 and December 31, 2022 were $35,970 and $35,282, respectively.