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Note 7 - Notes and Loans Payable: Schedule of Notes and Loans Payable Text Block (Tables)
12 Months Ended
Dec. 31, 2017
Tables/Schedules  
Schedule of Notes and Loans Payable Text Block

 

Notes and loans payable consist of:

 

 

 

 

 

December 31,

 2017

 

December 31,

 2016

Convertible note payable to lender dated February 1, 2016 (as amended        

        December 21, 2016), interest at 12% per annum, due February 1,

        2017, convertible into Common Stock at a Conversion Price equal to the

        Lesser of (i) $0.01 per share or (ii) 50% of the lowest Bid Price of the

        Common Stock for the 30 Trading Days preceding the Conversion Date      

        –fully converted at February 13, 2017

 

   $                -

 

   $        3,571

 

 

 

 

 

Convertible notes payable to lender dated from March 15, 2016 (as amended June 2, 2016) to November 15, 2017, interest at rates ranging from 12% to 14.99% per annum, due from April 6, 2017 to May 15, 2018, partially converted at March 22, 2017 and the remaining notes convertible into Common Stock at a Conversion Price equal to the lesser of (i) $0.01 per share or (ii) 50% of the lowest Closing Bid Price of the Common Stock for the 30 Trading Days preceding the Conversion Date – net of

        unamortized debt discount of $1,815 and $34,411, respectively  

 

           36,685

 

           39,839

 

 

 

 

 

Convertible notes payable to lender dated February 1, 2016 (as amended

        December 21, 2016) and December 21, 2016, interest at 12% per

        annum, due February 1, 2017 and May 20, 2017, convertible into

        Common Stock at a Conversion Price equal to the lesser of (i) $0.01 per

        share or (ii) 50% of the lowest Closing Bid Price of the Common Stock

        for the 30 Trading Days preceding the Conversion Date – net of

        unamortized debt discount of $0 and $58,095, respectively    

 

           65,000

 

             6,905

 

 

 

 

 

Convertible notes payable to Pasquale and Rosemary Ferro dated from

        May 2, 2017 to October 13, 2017, interest at 12% per annum, due from

        September 16, 2017 to May 7, 2018, convertible into Common Stock at a

        Conversion Price equal to the lesser of (i) $0.01 per share or (ii) 50% of

        the lowest Closing Bid Price of the Common Stock for the 30 Trading

        Days preceding the Conversion Date – net of unamortized debt discount

        of $19,613 and $0, respectively    

 

           73,887

 

                    -

 

 

 

 

 

Convertible note payable to lender dated August 8, 2017 interest at 12% per

        annum, due August 8, 2018, convertible into Common Stock at a

        Conversion Price equal to the lesser of (i) $0.01 per share or (ii) 50% of

        the lowest Closing Bid Price of the Common Stock for the 30 Trading

        Days preceding the Conversion Date – net of unamortized debt discount

        of $15,068 and $0, respectively    

 

             9,932

 

                    -

 

 

 

 

 

Note payable to brother of Marco Alfonsi, Chief Executive Officer of the Company, interest at 10% per annum, due August 22, 2016 (now past due)

 

             5,000

 

             5,000

 

 

 

 

 

Loan payable to Mckenzie Webster Limited (“MWL”), an entity controlled by the former Chairman of the Board of Directors of the Company, non-interest bearing, due on demand

 

             3,000

 

             3,000

Total

 

   $    193,504

 

   $      58,315