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Convertible Promissory Notes Payable (Tables)
3 Months Ended
Mar. 31, 2020
Convertible Debt [Abstract]  
Schedule of convertible promissory notes payable

 

  

March 31,

   

December 31,

 

 

  

2020

   

2019

 

Convertible promissory notes with interest at 10% to 12% per annum, convertible into common shares at a fixed price ranging from $0.001 to $0.25 per share. Maturity dates through January 31, 2021, as amended. ($2,019,000 in default)

 $

2,669,000

  $

2,519,000

 

Convertible promissory notes with interest at 12% per annum, convertible into common shares at a price ranging from $0.08 to $0.14 or a 50% to 60% discount from the lowest trade price in the 20-25 trading days prior to conversion (as of March 31, 2020 the conversion price would be $0.0007 to $0.0010 per share).  Maturity dates through December 31, 2020, as amended. ($1,057,924 in default)

  

1,107,924

   

1,132,924

 

Convertible promissory notes with interest at 8% per annum, convertible into common shares at a fixed price of $0.02 per share. The maturity date was September 30, 2019, as amended. ($161,000 in default)

  

161,000

   

203,000

 

Convertible promissory notes with interest at 12% per annum, convertible into common shares of GES. The maturity dates through November 25, 2020, as amended. ($807,000 in default)

  

1,032,000

   

982,000

 

Total convertible promissory notes payable

  

4,969,924

   

4,836,924

 

Unamortized debt discount

  (241,091)  (197,296)

Convertible promissory notes payable, net discount

  

4,728,833

   

4,639,628

 

Less current portion

  (4,728,833)  (4,639,628)

Long-term portion

 $

  $

 
Schedule of rollfoward of convertible promissory notes payable

Convertible promissory notes payable, December 31, 2019

$

4,639,628

Issued for cash

 

250,000

Repayment for cash

 

(10,000)

Conversion to common stock

 

(107,000)

Debt discount related to new convertible promissory notes

 

(145,481)

Amortization of debt discounts

 

101,686

Convertible promissory notes payable, March 31, 2020

$

4,728,833