Note 7 - Convertible Notes

3 Months Ended

Mar. 31, 2021

Notes to Financial Statements

Long-term Debt [Text Block]

NOTE

7

–

CONVERTIBLE NOTES

Convertible notes payable consists of the following at:

	March 31, 2021		December 31, 2020
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.	$	878,468	$	867,641
Convertible notes payable to multiple private investors, including certain notes in default, bearing interest at 5% per annum with conversion rights for 3,708,115 common shares, maturing at various dates between May 2018 and February 2023.		5,972,807		5,862,807
Total convertible notes payable		6,851,275		6,730,448
Less current portion		6,763,275		6,652,448
Convertible notes payable, less current portion	$	88,000	$	78,000

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

4,043,948

common shares.

As of

May 12, 2021,

we are currently in default of

$5,113,927

of convertible notes payable, which are convertible into

3,171,315

shares of common stock.