| Convertible Notes Payable Summary |
| | |
December
31, 2018 |
| Lender | |
Principal | |
Unamortized
Debt Discount | |
Net |
| | |
| |
| |
|
| Firstfire
Global Opportunities Fund, LLC | |
$ | 210,000 | | |
$ | (124,615 | ) | |
$ | 85,385 | |
| Eagle
Equities, LLC | |
| 500,000 | | |
| (293,699 | ) | |
| 206,301 | |
| Total: | |
$ | 710,000 | | |
$ | (418,314 | ) | |
$ | 291,686 | |
|
| Schedule of Loans Payable |
| LENDER | |
LOAN
AMOUNT | |
NET
OF PROCEEDS | |
BALANCE
AS OF DECEMBER 31, 2018 | |
DEBT
DISC. & ORIGIN. FEES | |
INT
RATE | |
TERMS
OF PAYMENT | |
NET
BALANCE AS OF DEC. 31, 2018 |
| Ultegra Financial Partners (1) | |
$ | 486,500 | | |
$ | 339,500 | | |
$ | 474,917 | | |
$ | 143,500 | | |
| 84.98 | % | |
| Weekly-42
weeks | | |
$ | 331,417 | |
| Atlas Advanced Funding (1) | |
| 109,425 | | |
| 67,450 | | |
| 98,482 | | |
| 36,585 | | |
| 332.38 | % | |
| Daily-90
days | | |
| 61,898 | |
| 707 Flats Road (2) | |
| 134,900 | | |
| — | | |
| 134,900 | | |
| | | |
| — | | |
| 180
days | | |
| 134,900 | |
| Marsan Properties (2) | |
| 600,000 | | |
| — | | |
| 482,500 | | |
| | | |
| 5 | % | |
| 12
months | | |
| 482,500 | |
| TOTAL: | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
$ | 1,010,714 | |
During
the year ended December 31, 2018, the Company engaged in the following loan activity:
| (1) | The
Company recognized $55,612 in debt discount amortization on these loans during 2018. |
| (2) | Proceeds
totaling $734,900 used to finance fixed assets, plus guarantees, for total fixed asset
financing of $843,705 (NOTE 4 Property and Equipment). |
|