Note 8 - Convertible Notes

6 Months Ended

Jun. 30, 2020

Notes to Financial Statements

Long-term Debt [Text Block]

NOTE

8

– CONVERTIBLE NOTES

Convertible notes payable consists of the following:

	June 30, 2020		December 31, 2019
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.	$	810,638	$	850,519
Convertible notes payable to multiple private investors, including certain notes in default, bearing interest at 5% per annum with conversion rights for 3,489,990 common shares, maturing at various dates between May 2018 and June 2022.		5,623,807		5,373,806
Total convertible notes payable		6,434,445		6,224,325
Less current portion		5,894,565		5,185,412
Convertible notes payable, less current portion	$	539,880	$	1,038,913

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

3,825,823

common shares.

As of

July 31, 2020,

we are currently in default of

$3,474,805

of convertible notes payable, which are convertible into

2,147,088

shares of common stock.