v3.10.0.1
Note 5 - Related Party Transactions: Schedule of notes payable obligations to related parties assumed in acquisition (Tables)
3 Months Ended
Jun. 30, 2018
Tables/Schedules  
Schedule of notes payable obligations to related parties assumed in acquisition

 

 

 

June 30, 2018

 

March 31, 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.

$

15,000

$

-

 

 

 

 

 

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 2018 and is currently due on demand.

 

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.

 

8,000

 

-

 

 

 

 

 

Notes payable to a related party in which the note bears no interest and is scheduled to mature on demand.

 

25,000

 

-

 

 

 

 

 

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.

 

125,000

 

-

 

 

 

 

 

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.

 

10,000

 

-

 

 

 

 

 

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.

 

211,534

 

-

 

 

 

 

 

Total Related Party Notes Payable

 

485,534

 

-

 

 

 

 

 

Current Portion of Related Party Notes Payable

 

485,534

 

-

 

 

 

 

 

Long-term Portion of Related Party Notes Payable

$

-

$

-