March 31,
2020

December 31,
2019

In January 2017, the Company issued a Senior Unsecured Note ("Note") a face value of $3,000,000, payable two years from issuance, along with an aggregate of 4,500,000 shares of Common Stock, with a fair value of $1,147,500. The Company allocated the proceeds to the note payable and common stock based on their relative fair value and recorded a discount of $830,018 to be amortized into interest expense over the two-year term of the note. The Company also paid debt issuance costs consisting of a cash fee of $120,000 and 1,020,000 shares of common stock of the Company with a fair value of $306,000. On April 30, 2018, the Company and the Noteholder agreed to extend the due date of the note until April 30, 2020 for an extension fee of 1,500,000 shares of the Common Stock issued to the Noteholder. The April 2018 change in terms of the Note payable has been determined to be a debt extinguishment in accordance with ASC 470. The reported amounts under the debt extinguishment are not significantly different than that of the Company's reported amounts. The Note was amended on February 14, 2020 to conform to the terms of the 2020 Convertible Notes Payable offering. See below

$

-

$

2,000,000

Installment loan payable related to a vehicle acquisition payable in monthly payments of $539 per month at an interest rate of 10.8% per annum payable for 36 months

11,584

12,866

Total Principal Outstanding

$

11,584

$

2,012,866

Unamortized Deferred Debt Discount

-

(26,722

)

Unamortized Deferred Debt Issuance Costs

-

(9,866

)

Notes Payable, Net

$

11,584

$

1,976,278

Notes Payable, current portion, net of discounts and current portion

$

5,486

$

5,341

Notes Payable, net of discounts and current portion

6,098

1,970,937

$

11,584

$

1,976,278