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NOTES PAYABLE
6 Months Ended
Jun. 30, 2020
NOTES PAYABLE  
NOTE 4 - NOTES PAYABLE

On October 17, 2019, The Company executed a secured note with a related party for $100,000. The secured note is due on October 17, 2022. The Company agreed that the note bears interest at 10% per annum, to be paid in advance in shares of Imagion Biosystems Limited common stock (IBX), calculated at $0.015 per share with 2 million shares of IBX common stock. The amortization of debt discount for the six months ended June 30, 2020 was $8,600.

 

On October 17, 2019, The Company executed a secured note with an individual for $50,000. The secured note is due on October 17, 2022. The Company agreed that the note bears interest at 10% per annum, to be paid in advance in shares of Imagion Biosystems Limited common stock (IBX), calculated at $0.015 per share with 1 million shares of IBX common stock. The amortization of debt discount for the six months ended June 30, 2020 was $4,300.

 

Notes payable

 

$150,000

 

Less: Discounts on notes payable

 

 

(59,000)

Notes payable, net of discounts

 

$91,000