Note 9 - Convertible Notes

3 Months Ended

Mar. 31, 2018

Notes to Financial Statements

Long-term Debt [Text Block]

NOTE

9

– CONVERTIBLE NOTES

Loans and convertible notes payable consist of the following:

	March 31, 2018		December 31, 2017
Convertible note payable, bearing interest at 7% per annum with conversion rights for 335,833 common shares. This is due on demand.	$	856,815	$	880,567
Convertible notes payable to multiple private investors bearing an interest at 5% annum with conversion rights for 2,087,741 common shares, maturing at various dates between May 2018 and February 2020.		3,385,406		2,789,605
Total loans and convertible notes payable		4,242,221		3.670,172
Less current portion		2,001,702		1,461,979
Loans and convertible notes payable, less current portion	$	2,240,519	$	2,208,193

These notes

may

be converted at the option of the note holder at any time after registration of CEN’s common stock upon written notice by the note holder. These notes are convertible into a total of

2,423,574

common shares.