| Schedule of Notes Payable Obligations to Related Parties Assumed in Acquisition |
The Company's notes payable obligations to related parties assumed in the acquisition (Note 11) are as follows as of September 30, 2018 and June 30, 2018:
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| | September 30, 2018
| | June 30, 2018
|
Various notes payable to a related party in which the note accrues interest on the original principal balance at a rate of 8% interest annually and is due on demand. Five of these notes were converted into common stock in accordance with a board resolution at a rate of $.01 per share. One note did not convert.
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$ 15,000
| | $ 15,000
|
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Note payable to a related party bearing interest at a rate of 8% interest annually, maturing in August 2019.
| 45,000
| | -
|
| | | | |
Various notes payable to a related party in which the note accrues interest on the original principal balance at a rate of 6.25% interest annually and was scheduled to mature in October 2017 and is currently due on demand.
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| | | |
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91,000
| | 91,000
|
| | | | |
Note payable to a related party in which the note accrues interest on the original principal balance at a rate of 6.25% interest annually and is due in August 2019.
| | | |
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8,000
| | 8,000
|
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Notes payable to a related party in which the note bears no interest and is scheduled to mature on demand.
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25,000
| | 25,000
|
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Note payable to a related party in which the note accrues interest on the original principal balance at a rate of 9% interest annually and is scheduled to mature in October 2019.
| | | |
| | | |
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125,000
| | 125,000
|
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Note payable to an individual executed February 2018 in which the note accrues interest on the original principal balance at a rate of 18% annually and is due on demand.
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10,000
| | 10,000
|
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Various notes payable to a related party in which the note accrues interest on the original principal balance at a rate of 10% interest annually through December 31, 2016 at which time the interest rate was reduced to 6.25% interest annually. The notes are scheduled to mature at various dates through July 2021.
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211,534
| | 211,534
|
| | | | |
Total Related Party Notes Payable
| 530,534
| | 485,534
|
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Current Portion of Related Party Notes Payable
| 530,534
| | 485,534
|
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Long-term Portion of Related Party Notes Payable
| $ -
| | -
|
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|