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NOTE 7 - NOTES PAYABLE
3 Months Ended
Mar. 31, 2020
Notes  
NOTE 7 - NOTES PAYABLE

NOTE 7 – NOTES PAYABLE

 

Notes payable consisted of the following:

 

 

 

March 31,

2020

 

December 31, 2019

 

 

 

 

 

Note payable to an individual, interest at 12% per annum, issued August 1, 2018 due November 15, 2018 (in default), unsecured

 

$           10,000

 

$             10,000

 

 

 

 

 

Note payable to an individual, interest at 12% per annum, issued December 31, 2018 due December 31, 2019 (in default), unsecured

 

30,000

 

30,000

 

 

 

 

 

Total Notes Payable

 

40,000

 

40,000

Less: Current Portion

 

(40,000)

 

(40,000)

Long-Term Notes Payable

 

$                     -

 

$                       -

 

Accrued interest and interest expense for these Notes as of and for the year ended December 31, 2019 totaled $4,700 and $4,200, respectively.  Accrued interest and interest expense for these Notes as of and for the three months ended March 31, 2020 totaled $5,897 and $1,197, respectively.