Note 11 - Convertible Notes

12 Months Ended

Dec. 31, 2019

Notes to Financial Statements

Long-term Debt [Text Block]

NOTE

11

– CONVERTIBLE NOTES

Convertible notes payable consists of the following at

December 31:

	2019		2018
Convertible note payable, due on demand, for the original amount of CAD $1,104,713, bearing interest at 7% per annum with conversion rights for 335,833 common shares.	$	850,519	$	809,755
Convertible notes payable to multiple private investors, including certain notes in default, bearing interest at 5% per annum with conversion rights for 3,333,740 common shares, maturing at various dates between May 2018 and November 2021.		5,373,806		4,333,892
Total convertible notes payable		6,224,325		5,143,647
Less current portion		5,185,412		3,597,760
Convertible notes payable, less current portion	$	1,038,913	$	1,545,887

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

3,669,573

common shares.

As of

April 14, 2020,

we are currently in default of

$3,357,805

of convertible notes payable, which are convertible into

2,073,963

shares of common stock.