Note 9 - Loans Payable

12 Months Ended

Dec. 31, 2019

Notes to Financial Statements

Short-term Debt [Text Block]

NOTE

9

– LOANS PAYABLE

Loans payable consist of the following at

December 31:

	2019		2018
Loan payable to Global Holdings International, LLC, which bears interest at 15% per annum after defaulting on the maturity date of June 30, 2016. This note is secured by the Company's equipment.	$	9,675,000	$	9,675,000
Mortgage payable in default to ARG & Pals, Inc., for the original amount of CAD $385,000. The mortgage bears interest at 22% per annum, and matured on November 21, 2018.		296,411		282,205
Loan payable in default to an individual, issued January 17, 2018 with a 30-day maturity, bearing share interest of 2,000 common shares per 30-day period. This is an unsecured loan which matured on January 16, 2020.		50,000		50,000
Loan payable in default to an individual, issued April 13, 2018, with a 30-day maturity, bearing share interest of 4,000 common shares per 30-day period. This is an unsecured loan which matured on January 16, 2020.		100,000		100,000
Total loans payable (all current)	$	10,121,411	$	10,107,205

We are in default of

$9,675,000

of debt that is secured by certain equipment that we value at approximately

$9,000.

The remainder of our debt that is in default is

not

secured.

During

2019

and

2018,

72,000

and

76,400

common shares were issued to individuals for loans made to CEN, respectively. Accordingly, during the

2019

and

2018,

$67,500

and

$54,388

in interest expense and additional paid-in capital was recorded, respectively.