Convertible Notes Payable (Tables)

3 Months Ended

Mar. 31, 2021

Notes Payable [Abstract]

Summary of Convertible notes payable

Convertible notes payable at March 31, 2021 and December 31, 2020 consist of the following:

	March 31,			December 31,
	2021			2020
Convertible note payable to GBT Technologies	$	10,000,000		$	10,000,000
Convertible notes payable to Redstart Holdings		390,600			347,400
Convertible note payable to Stanley Hills		328,273			1,009,469
Convertible note payable to Iliad		624,931			2,431,841
Total convertible notes payable		11,343,804			13,788,710
Unamortized debt discount		(331,064	)		(362,004	)
Convertible notes payable	$	11,012,740		$	13,426,706

Rollfoward of convertible note

A roll-forward of the convertible notes payable from December 31, 2020 to March 31, 2021 is below:

	Principal			Debt
	Balance			Discount			Net
Convertible notes payable, December 31, 2020	$	13,788,710		$	(362,004	)	$	13,426,706
Issued for cash		870,272			—			870,272
Accrued interest added to convertible note		53,090			—			53,090
Payment with marketable securities		(300,000	)		—			(300,000	)
Original issue discount		48,400			—			48,400
Conversion to common stock		(3,116,668	)		—			(3,116,668	)
Debt discount related to new convertible notes		—			(290,400	)		(290,400	)
Amortization of debt discounts		—			321,340			321,340
Convertible notes payable, March 31, 2021	$	11,343,804		$	(331,064	)	$	11,012,740