- Definition

Identification of the lender and information about a contractual promise to repay a short-term or long-term obligation, which includes borrowings under lines of credit, notes payable, commercial paper, bonds payable, debentures, and other contractual obligations for payment. This may include rationale for entering into the arrangement, significant terms of the arrangement, which may include amount, repayment terms, priority, collateral required, debt covenants, borrowing capacity, call features, participation rights, conversion provisions, sinking-fund requirements, voting rights, basis for conversion if convertible and remarketing provisions. The description may be provided for individual debt instruments, rational groupings of debt instruments, or by debt in total.

+ References + Details

NOTES RECEIVABLE (Details Narrative) - USD ($)	Aug. 15, 2018	Jan. 31, 2022	Mar. 30, 2020
Debt Instrument, Face Amount		$ 1,296,000	$ 8,400,000
Debt Instrument, Interest Rate, Stated Percentage		7.00%
IBC Hotels, LLC [Member]
Debt Instrument, Face Amount	$ 1,925,000
IBC Hotels, LLC [Member] \| Promissory Notes [Member]
Debt Instrument, Interest Rate, Stated Percentage	375.00%
Debt instrument, description	If after effective date IBC closes an equity transaction with net proceeds to IBC in excess of $2,500,000, IBC/Buyer shall pay or pre-pay to IHT an amount equal to (a) 50% of the net proceeds received by IBC and (b) 50% of the sum of the unpaid balance of the note and accrued interest accrued but unpaid interest thereon, as the date of receipt of the net proceeds by IBC