Convertible Debentures and Loans Payable (Tables)

12 Months Ended

Dec. 31, 2020

Schedule of Convertible Debentures

Convertible debentures consist of the following at December 31, 2020:

Origination Date	Maturity Date	Interest Rate			Origination Principal Balance		Original Discount Balance			Period End Principal Balance		Period End Discount Balance		Period End Balance, Net		Accrued Interest Balance		Reg.
8/31/2011	8/31/2013		5	%		10,000		(4,286	)		10,000		—		10,000		4,694		(1	)
12/01/17	12/31/21		6	%		50,000		(12,500	)		50,000		—		50,000		9,250		(2	)
12/05/17	12/31/21		6	%		50,000		(12,500	)		50,000		—		50,000		9,218		(3	)
										$	110,000	$	—	$	110,000	$	23,162

Convertible debentures consist of the following at December 31, 2019:

Origination Date	Maturity Date	Interest Rate			Origination Principal Balance		Original Discount Balance			Period End Principal Balance		Period End Discount Balance		Period End Balance, Net		Accrued Interest Balance		Reg.
8/31/2011	8/31/2013		5	%		10,000		(4,286	)		10,000		—		10,000		4,194		(1	)
12/01/17	12/31/20		6	%		50,000		(12,500	)		50,000		—		50,000		6,250		(2	)
12/05/17	12/31/20		6	%		50,000		(12,500	)		50,000		—		50,000		6,218		(3	)
										$	110,000	$	—	$	110,000	$	16,662

(1)	The Company borrowed $10,000 in exchange for a convertible debenture. The lender at its option may convert all or part of the note plus accrued interest into common stock at a price of 30% discount as determined from the average four highest closing bid prices over the preceding five trading days. The Company valued the beneficial conversion feature of the convertible debenture at $4,286, which was accreted to interest expense over the period of the note. As of February 22, 2021 the noteholder requested conversion and the note was converted into 422,209 shares at a conversion price of $.035 per share.
(2)	On December 1, 2017 the Company entered into a $50,000 principal amount 6% secured convertible promissory note, due December 1, 2018, subject to extension. The note is secured with such assets of the Company equal to the principal and accrued interest, and is guaranteed by the Company’s wholly-owned subsidiaries, Trebor and BHP and the personal guarantee of Robert M. Carmichael.
	The conversion price under the note initially ranged from $0.02 per share if converted in the first year to $0.125 per share if converted in year five. The lender may convert at any time until the note plus accrued interest is paid in full. Various other fees and penalties apply if payments or conversions are not done timely by the Company. The lender will be limited to maximum conversion of 9.99% of the outstanding common stock of the Company at any one time. In 2019, the maturity date of the note was extended for one additional year to December 31, 2019 with a reduction in the conversion price to $0.01 per share. The Company recorded a loss on extinguishment of debt of $32,000 upon the modification of conversion price. Subsequent to December 31, 2019, the maturity date was further extended to December 1, 2020 and on December 21, 2020, the maturity date was further extended to December 31, 2021.

(3)

On December 5, 2017 the Company entered into a $50,000 principal amount 6% secured convertible promissory note, due December 4, 2018, subject to extension. The note is secured with such assets of the Company equal to the principal and accrued interest, and is guaranteed by the Company’s wholly-owned subsidiaries, Trebor and BHP and the personal guarantee of Robert M. Carmichael.

The conversion price under the note initially ranged from $0.02 per share if converted in the first year to $0.125 per share if converted in year five. The lender may convert at any time until the note plus accrued interest is paid in full. Various other fees and penalties apply if payments or conversions are not done timely by the Company. The lender will be limited to maximum conversion of 9.99% of the outstanding common stock of the Company at any one time. In 2019, the note was extended for one additional year to December 31, 2019 with a reduction in the conversion price to $0.01 per share. The Company recorded a loss on extinguishment of debt of $99,000 upon the modification of conversion price. Subsequent to December 31, 2019, the maturity date was further extended to December 31, 2020 2020 and on December 21, 2020, the maturity date was further extended to December 31, 2021.

Schedule of Future Amortization of Loans Payable

	Payment Amortization
2021	$	32,975
2022		27,095
Total Loan Payments	$	60,070
Current portion of Loan payable		(32,975	)
Non-Current Portion of Loan Payable	$	27,095

Mercedes Benz Note [Member]

Schedule of Future Amortization of Loans Payable

	Payment Amortization
2021	$	11,168
2022		11,168
2023		11,168
2024		11,168
2025 and thereafter		7,446
Total note payments	$	52,118
Current portion of note payable		(11,168	)
Non-Current Portion of notes payable	$	40,950

PPP Loan [Member]

Schedule of Future Amortization of Loans Payable

	Payment Amortization
2021	$	106,893
2022		52,737
Total loan payments	$	159,600
Current portion of SBA Loan payable		(106,863
Non-Current Portion of SBA Loan payable	$	52,737