| SCHEDULE OF NOTES PAYABLE |
FRH
Group Note Summary
SCHEDULE OF NOTES PAYABLE
| Date of Note: | |
2/22/2016 | | |
5/16/2016 | | |
11/17/2016 | | |
4/24/2017 | |
| Original Amount of Note: | |
$ | 100,000 | | |
$ | 400,000 | | |
$ | 250,000 | | |
$ | 250,000 | |
| Outstanding Principal Balance: | |
$ | - | | |
$ | - | | |
$ | - | | |
$ | - | |
| Conversion Date (1): | |
| 02/22/2021 | | |
| 02/22/2021 | | |
| 02/22/2021 | | |
| 02/22/2021 | |
| Interest Rate: | |
| 6 | % | |
| 6 | % | |
| 6 | % | |
| 6 | % |
| Date to which interest has been paid: | |
| Accrued | | |
| Accrued | | |
| Accrued | | |
| Accrued | |
| Conversion Rate on February 22, 2021: | |
$ | 0.10 | | |
$ | 0.10 | | |
$ | 0.10 | | |
$ | 0.10 | |
| Floor Conversion Price: | |
$ | 0.05 | | |
$ | 0.05 | | |
$ | 0.05 | | |
$ | 0.05 | |
| Number Shares Converted for Original Note: | |
| 1,000,000 | | |
| 4,000,000 | | |
| 2,500,000 | | |
| 2,500,000 | |
| Number Shares Converted for Interest: | |
| 29,117 | | |
| 111,000 | | |
| 61,792 | | |
| 55,000 | |
| (1) |
Note
Extension – On February 22, 2021, the Company entered into an Assignment of Debt Agreement (the “Agreement”)
with FRH and FRH Group Corporation. The Company eliminated all four FRH Group convertible notes, including interest, of $1,256,908,
in return for the issuance of 12,569,080 of unregistered common stock of the Company (the “Shares”) to FRH. Following
the Agreement, FRH assigned the Shares to FRH Group Corporation, an entity also owned by Mr. Hong. |
|