Notes Payable

3 Months Ended

Mar. 31, 2024

Debt Disclosure [Abstract]

Notes Payable

Note 3 – Notes Payable

Notes payable and related terms were as follows:

	1			2		3
Terms	Note Payable			Note Payable		Note Payable
Issuance date of note		September 2019			March 2019		May 2022
Maturity date		September 2022			March 2024		September 2022
Interest rate		7.70	%		N/A		N/A
Default interest rate		18	%		N/A		N/A
Collateral		Unsecured			Unsecured		Unsecured
Original amount	$	525,000		$	300,000	$	67,500

								Total			In-Default
Balance - December 31, 2022		525,000		80,000			67,500		672,500		$	672,500
Repayments		-		(20,000	)		-		(20,000	)		-
Balance - December 31, 2023	$	525,000	$	60,000		$	67,500	$	652,500		$	652,500
No activity in 2024		-		-			-		-			-
Balance – March 31, 2024		525,000		60,000			67,500		652,500			652,500

1 The Company executed a settlement agreement with a third party for $525,000 in 2019. This note requires semi-annual interest payments. At March 31, 2024, the note is in default.

2 The Company executed a settlement agreement with a third party for $300,000 in 2019. This note requires sixty (60) monthly installments of $5,000 each until paid in full. At March 31, 2024, the note is in default.

3 The Company executed a note for $67,500 and received net proceeds of $30,000. The balance of $37,500 was an original issue discount amortized over the life of the note. At March 31, 2024, the note is in default.

GREENWAY TECHNOLOGIES, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

MARCH 31, 2024

(UNAUDITED)