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NOTES PAYABLE (Table)
12 Months Ended
Dec. 31, 2021
NOTES PAYABLE  
Schedule of Notes payable

 

 

December 31,

 

 

December 31,

 

 

 

2021

 

 

2020

 

 

 

 

 

 

 

 

Promissory note issued on December 10, 2020

 

$220,000

 

 

$220,000

 

Promissory note issued on February 10, 2021

 

 

220,000

 

 

 

-

 

 

 

 

440,000

 

 

 

220,000

 

Less unamortized debt discount

 

 

(55,292)

 

 

(110,645)

Total outstanding notes payable

 

$384,708

 

 

$109,355

 

Schedule of Notes payable related parties

 

 

December 31,

 

 

December 31,

 

 

 

2021

 

 

2020

 

 

 

 

 

 

 

 

Promissory note to an affiliate of the Company’s CFO, dated September 30, 2015, bearing no interest payable on demand

 

$-

 

 

$349,573

 

Promissory note to our CFO, dated December 15, 2015, bearing interest at 10% annually, payable on demand

 

 

-

 

 

 

41,810

 

Promissory note to a former CEO, dated December 15, 2015, bearing interest at 10% annually, payable on demand

 

 

-

 

 

 

24,101

 

Promissory note to a former CEO’ spouse, dated December 15, 2015, bearing interest at 10% annually, payable on demand

 

 

-

 

 

 

53,994

 

Promissory note to a former CEO, dated September 30, 2017, bearing 10% interest, payable on demand

 

 

-

 

 

 

59,044

 

Promissory note to our CFO, dated September 30, 2017, bearing 10% interest, payable on demand

 

 

-

 

 

 

3,200

 

 

 

$-

 

 

$531,722

 

Reclassification to debt to be settled (Note 12)

 

 

-

 

 

 

(531,722)