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NOTES PAYABLE
3 Months Ended
Mar. 31, 2021
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 three months ended March 31, 2021 was $4,000.

 

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 three months ended March 31, 2021 was $2,000.

 

Notes payable

 

$ 150,000

 

Less: Discounts on notes payable

 

 

(40,000 )

Notes payable, net of discounts

 

$ 110,000