SCHEDULE OF OUTSTANDING CONVERTIBLE NOTES |
SCHEDULE
OF OUTSTANDING CONVERTIBLE NOTES
Name | |
| | |
Principal
due
June
30, 2022 | | |
Accrued
interest
June
30, 2022 | | |
Total
amount due June
30, 2022 | |
Private Placement, 2021 Notes | |
| (1) | | |
$ | 2,165,000 | | |
$ | 81,063 | | |
| 2,246,063 | |
Private Placement, 2022
Notes | |
| (2) | | |
| 1,467,000 | | |
| 41,237 | | |
| 1,508,237 | |
| |
| | | |
$ | 3,632,000 | | |
$ | 122,300 | | |
| 3,754,300 | |
|
(1) |
$1,000,000
of this amount was used to extinguish the Old Notes. Net cash received for these notes were $1,045,150, after a Debt Discount of
$119,850 was paid to the sole Placement Agent: WallachBeth Capital, LLC (Member FINRA / SIPC). |
|
(2) |
Net
cash received for these notes were $1,380,960, after a Debt Discount of $86,040 was paid to the sole Placement Agent: WallachBeth
Capital, LLC (Member FINRA / SIPC). |
At
December 31, 2021 the outstanding convertible notes were as follows:
Name | |
| | |
Principal
due
December
31, 2021 | | |
Accrued
interest
December
31, 2021 | | |
Total
amount due December
31, 2021 | |
Notes sold in exchange for cash | |
| (1) | | |
$ | 1,165,000 | | |
$ | 46,108 | | |
| 1,211,108 | |
Note issued in exchange
for defaulted Old Notes | |
| (2) | | |
| 1,000,000 | | |
| 39,577 | | |
| 1,039,577 | |
| |
| | | |
$ | 2,165,000 | | |
$ | 85,685 | | |
| 2,250,685 | |
|
(1) |
Net
cash received for these notes were $1,045,150, after a Debt Discount of $119,850 was paid to the sole Placement Agent: WallachBeth
Capital, LLC (Member FINRA / SIPC). |
|
(2) |
The
“Old Notes” were paid off and assumed by a different entity/company. A new note
of $1,000,000 was issued to a third party. |
|
SCHEDULE OF CONVERTIBLE NOTES PAYABLE |
Convertible
notes payable consists of the following at June 30, 2022 and December 31, 2021:
SCHEDULE
OF CONVERTIBLE NOTES PAYABLE
| |
June
30, 2022 | |
December
31, 2021 |
Principal balance | |
$ | 3,632,000 | | |
$ | 2,165,000 | |
Unamortized debt discount | |
| (38,350 | ) | |
| (42,819 | ) |
Outstanding, net of debt
discount and premium | |
$ | 3,593,650 | | |
$ | 2,122,181 | |
|