Convertible Notes Payable (Tables)

12 Months Ended

Dec. 31, 2020

Notes Payable [Abstract]

Summary of Convertible notes payable

Convertible notes payable at December 31, 2020 and 2019 consist of the following:

	December 31,			December 31,
	2020			2019
Convertible note payable to GBT Technologies	$	10,000,000		$	10,000,000
Convertible note payable to Glen Eagle		-			1,000,000
Convertible note payable to Power Up		-			-
Convertible notes payable to Redstart Holdings		347,400			-
Convertible note payable to Stanley Hills		1,009,469			-
Convertible note payable to Iliad		2,431,841			-
Total convertible notes payable		13,788,710			11,000,000
Unamortized debt discount		(362,004	)		-
Convertible notes payable		13,426,706			11,000,000
Less current portion		(3,426,706	)		-
Convertible notes payable, long-term portion	$	10,000,000		$	11,000,000

Rollfoward of convertible note

A roll-forward of the convertible notes payable and debt discount from December 31, 2018 to December 31, 2020 is below:

	Principal			Debt
	Balance			Discount			Net
Convertible notes payable, December 31, 2018	$	3,431,200		$	(3,233,124	)	$	198,076
Issued for cash		3,000,000			—			3,000,000
Issued for acquisition		10,000,000			—			10,000,000
Issued for services		1,000,000			—			1,000,000
Original issue discount		336,000			—			336,000
Conversion to common stock		(1,357,200	)		—			(1,357,200	)
Debt discount related to new convertible notes		—			(3,336,000	)		(3,336,000	)
Reduction in convertible note due to legal settlement		(5,410,000	)		—			(5,410,000	)
Amortization of debt discounts		—			6,569,124			6,569,124
Convertible notes payable, December 31, 2019		11,000,000			—			11,000,000
Issued for cash		820,958			—			820,958
Accrued interest added to convertible note		204,858			—			204,858
Exchange of convertible note for other company assets		(1,000,000	)		—			(1,000,000	)
Notes payable converted to convertible notes		3,980,883			—			3,980,883
Original issue discount		88,500			—			88,500
Conversion to common stock		(1,306,489	)		—			(1,306,489	)
Debt discount related to new convertible notes		—			(4,511,883	)		(4,511,883	)
Amortization of debt discounts		—			4,149,879			4,149,879
Convertible notes payable, December 31, 2020	$	13,788,710		$	(362,004	)	$	13,426,706