Unsecured Notes Payable

On November 25, 2014, the Company issued an unsecured promissory note to an individual in the amount of $100,000 at 10% interest and due on April 1, 2015. On April 1, 2016 the Company entered into a forbearance agreement. The Company was granted an extension of the note through September 30, 2016 in consideration of 150,000 shares of common stock valued at $150,000 with interest accruing after March 29, 2016 at 12%. The lender was issued an additional 50,000 shares valued at $50,000 to extend the note to August 31, 2017. During the year ended December 31, 2019, the Company made $15,000 repayment. The note and accrued interest were $159,303 and $157,855 as of December 31, 2019, and December 31, 2018. The initial extension fee was amortized ratably over the extension period of 180 days. The note remains unpaid as of December 31, 2019 and is currently in default.

During the year ended December 31, 2016, the Company received two separate payments of $12,500, totaling $25,000, as secured notes. The notes are non-interest bearing and have no terms of repayment. The balance of the notes was $25,000 as of December 31, 2020 and December 31, 2019.

On December 12, 2016, the Company issued an unsecured promissory note to an investor. The note bears interest at 5% and matured on June 30, 2017. As of December 31, 2016, payments from the investor are $2,200. On January 11, 2017, the investor loaned an additional $5,000 related to the promissory note. The balance of this note plus accrued interest totals $8,269 and $7,909 as of December 31, 2020 and December 31, 2019, respectively. The notes are currently unpaid and in default.

On March 14, 2017, the Company issued an unsecured promissory note to an investor in the amount of $5,000. The note bears interest at 4% and matures on March 14, 2018. The balance of this note plus interest totals $5,519 and $5,319 as of December 31, 2020 and December 31, 2019, respectively and is currently in default.

During the year ended December 31, 2019, the Company received four separate payments of $12,500, totaling $50,000, as secured notes. The notes are non-interest bearing and have no terms of repayment. During the year ended December 31, 2019, the Company made $15,000 repayment. The balance of the notes was $25,000 as of December 31, 2020.

Convertible Notes Payable – related party

In August 2015, the Company issued an unsecured promissory note to an investor in the amount of $50,000, convertible to common stock at $1.00 per share. The note bears an interest rate of 8% per annum and matured on August 8, 2016. The note is currently unpaid and in default. The note does not contain a beneficial conversion feature. The balance of this note plus accrued interest totals were $68,500 and $67,500 at December 31, 2020 and December 31, 2019, respectively.

Promissory Notes Payable – related party

On June 18, 2019, the Company issued a promissory note at a principal amount of $447,150 as part of the consideration for the acquisition of assets from AH Originals, Inc., a corporation controlled by the same owner group of Global Fiber Technologies, Inc. The promissory note bears 3% interest per annum and have a one-year term with eight options to extend the maturity date for three-month periods. During the years ended December 31, 2020 and 2019, debt discount of $70,374 and $35,187, respectively, have been amortized. The balance of this note, net of note discount of $105,562 plus accrued interest totals was $362,440 at December 31, 2020.

Convertible Notes Payable

As of December 31, 2020 and 2019 convertible notes outstanding $ 392,222 and $ 488,865 respectively .

	December 31
	2020		2019
Principal balances	$	308,460	$	709,363
Discount				(245,191	)
Accrued Interest		41,462		24,693
	$	349,922	$	488,865