NOTES PAYABLE

3 Months Ended

Mar. 31, 2022

NOTES PAYABLE

Note 6 - Notes Payable

NOTE 6 – NOTES PAYABLE

In prior periods, a third party lender advanced a total of $391,419 for working capital purposes under a demand note. The advances accrue interest at 10% per annum and are due on demand. The balance on the note was $391,419 and $391,419 and accrued interest was $67,192 and $57,641 as of March 31, 2022 and December 31, 2021, respectively. Interest expense was $9,651 and $6,270 for the three months ended March 31, 2022 and 2021, respectively.

In the prior year, a third party lender advanced a total of $7,500 for working capital purposes under a demand note. The advance accrues interest at 10% per annum and is due on demand. The balance on the note was $7,500 and $7,500 and accrued interest was $185 and $68 as of March 31, 2022 and December 31, 2021, respectively. Interest expense was $185 and $68 for the three months ended March 31, 2022 and 2021, respectively.