Long-Term Debt Related Parties

3 Months Ended

Mar. 31, 2021

Debt Disclosure [Abstract]

Long-Term Debt Related Parties

NOTE 11: LONG-TERM DEBT RELATED PARTIES

The following is a summary of the current portion - long-term debt - related parties as of March 31, 2021 and December 31, 2020:

		March 31,2021			December 31, 2020
Unsecured advances - CEO	(a)	$	1,632,135		$	1,718,277
Notes payable - Satinder Thiara	(b)		32,000			57,000
Promissory note – Kunaal Sikka	(c)		15,000			15,000
Notes payable – Swarn Singh	(d)		45,000			45,000
Note payable - Chaudhary	(e)		8,314			8,122
Advances – former CEO of Rohuma			35,490			-
Advances – former CEO of Mimo Technologies	(f)		87,897			-
			1,855,836			1,843,399
Current portion of long-term debt related parties			(1,855,836	)		(1,843,399	)
Long-term debt – related parties		$	-		$	-

(a)

This is an unsecured advance from the CEO originally entered into January 1, 2015. The note bears interest at 15% annually (1.25% monthly) and are due on demand.

(b)

Notes payable to Satinder Thiara entered into May 25, 2016 ($22,000) which is due December 31, 2021, December 13, 2016 ($10,000) which is due December 31, 2021, and May 1, 2018 ($25,000) which matured December 31, 2019 at interest rate of 15% annually (1.25% monthly). These are unsecured loans. The May 1, 2018 note is in default as of December 31, 2019. As a result the interest rate was changed to 21% annually (1.75% monthly). The May 1, 2018 note that matured December 31, 2019 was converted along with $12,392 in accrued interest into 43,990 shares of common stock on March 5, 2021.

(c)	Unsecured promissory note from Kunaal Sikka, the CEO’s son, dated September 13, 2018, in the amount of $15,000, maturing on December 31, 2019, and accruing interest at an annual rate of 12%. The note is in default as of December 31, 2019. As a result the interest rate was changed to 18% annually (1.50% monthly).
(d)	Note payable to Swarn Singh, father-in-law of the CEO, entered into January 3, 2017 ($25,000) and February 1, 2017 ($20,000) at interest rate of 15% annually (1.25% monthly). These are unsecured notes. Both notes were due December 31, 2019. The notes are in default as of December 31, 2019. As a result the interest rate was changed to 21% annually (1.75% monthly).
(e)	Note payable to Sushil Chaudhary dated April 27, 2020 in the amount of 1,100,000 INR (approximately $14,500 US$) due on demand at 13% per annum. This amount was offset by an amount due from the company that Sushil Chaudhary owns in the amount of $8,179.
(f)	Note payable to Lathika Regunathan dated June 18, 2020 in the amount of 7,650,000 INR (approximately $100,000 US$) interest free and due on demand.

Interest expense on these notes for the three months ended March 31, 2021 and 2020 are $65,438 and $52,744, respectively.