NOTES PAYABLE

3 Months Ended

Mar. 31, 2021

Notes to Financial Statements

NOTES PAYABLE

6.       NOTES PAYABLE

Secured debt offering

During the period from May 22, 2013 and December 31, 2018, the Company entered into a 9% notes payable to nineteen investors and received proceeds of $552,000. The notes were due two years from the anniversary date of execution. The Notes are secured by the US Patent rights granted for the Company's Sunscreen Products: US patent number #8,128,913: "Sunscreen Composition with Enhanced UV-A Absorber Stability and Methods.”

As of March 31, 2021, $552,000 of the outstanding notes payable are past due and in default and have been classified as current notes payable.