NOTE 5. SHORT- AND LONG-TERM BORROWINGS: Schedule of short-term and long-term borrowings (Tables)

6 Months Ended

Jun. 30, 2021

Tables/Schedules

Schedule of short-term and long-term borrowings

Short-term and Long-term borrowings, consist of the following:	June 30,	December 31,
Short term debt;	2021	2020
Convertible Promissory Notes, bearing an annual interest rate of 12% secured, due 08/27/2019	$ 97,259	$ 97,259
Short-Term Note – Jean Mork Bredeson cash deficit holdback, 15%, past due	210,000	210,000
Short-Term Note – Jean Mork Bredeson purchase allocation, 15%, past due	1,409,169	1,409,169
Funding from the Payroll Protection Program, annual interest of 1%, due 04/24/2022	-	500,000
Funding from the Payroll Protection Program Round 2, annual interest of 1%, due 02/28/2026	625,000	-
Convertible Promissory Notes, bearing an annual interest rate of 8% secured, due 08/07/2020	-	713,555
Senior Secured Redeemable Debenture, bearing an annual interest rate of 16%, due 12/31/2021, current	826,547	-
Total short-term debt	3,167,975	2,929,983

Long term debt;
Convertible Promissory Notes, bearing an annual interest rate of 5.0%, due 12/31/22	331,343	350,000
Funding from the SBA Program, annual interest of 3.75%, due 03/30/2051	150,000	-
Promissory Note – Jean Mork Bredeson, interest rate 5.5%, due 2/28/2022	2,100,000	2,100,000
Senior Secured Redeemable Debenture, bearing an annual interest rate of 16%, due 12/31/2021, long term	-	826,547
Total short-term and long-term borrowings, before debt discount	5,749,318	6,206,530
Less debt discount	(70,843)	(123,967)
Total short-term and long-term borrowings, net	$  5,678,475	$ 6,082,563
Short-term and Long-term borrowings, consist of the following:
Short-term borrowings – net of discount	$  3,167,975	$ 2,929,983
Long-term borrowings – net of discount	2,510,500	3,152,580
Total Short-Term and long term borrowings – net of discount	$  5,678,475	$ 6,082,563