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Convertible Notes (Related and Unrelated Party)
 6 Months Ended
Jun. 30, 2021
Debt Disclosure [Abstract]  
Convertible Notes (Related and Unrelated Party)

Note 7. Convertible Notes (Related and Unrelated Party)

 

As of June 30, 2021, the Company settled all outstanding convertible note which included the $1,071,000 Series CN Note 1 noteholders. The debt settlement consisted of debt converted to company stock of $231,000 ($30,000 related party) in principal and $192,663 ($37,689 related party) in interest into 1,159,243 shares of common stock, and debt in the amount of $840,000 ($180,000 related party) was repaid.

 

The convertible notes consist of the following components as of June 30, 2021 and December 31, 2020:

Schedule of Convertible Notes 

 

   June 30, 2021   December 31, 2020 
Convertible notes  $1,181,167   $1,181,167 
Less: Debt discount (warrant value)   (92,266)   (92,266)
Less: Debt discount (issuance costs paid)   (6,004)   (6,004)
Less: Note conversion/settlements   (1,181,167)   (110,166)
Add: Debt discount amortization   98,270    38,173 
Total convertible notes  $-   $1,010,904 

 

 As of June 30, 2021, the Company settled all outstanding convertible note holders which included the $168,000 Series CN Note 2 noteholders. The debt settlement consisted of debt converted to company stock of $168,000 in principal and $41,747 in interest into 582,630 shares of common stock.

 

The convertible notes consist of the following components as of June 30, 2021 and December 31, 2020:

 

   June 30, 2021   December 31, 2020 
Convertible notes  $235,200   $235,200 
Less: Debt discount (warrant value)   (1,817)   (1,817)
Less: Debt discount (derivative value) (Note 8)   (13,528)   (13,528)
Less: Debt discount (issuance costs paid)   (6,004)   (6,004)
Less: Note conversion/settlements   (235,200)   (67,200)
Add: Debt discount amortization   21,349    9,487 
Total convertible notes  $-   $156,138 

 

The total of $1,167,042 shown in the two tables above at December 31, 2020, are presented in the balance sheet as Current Liabilities: $158,243 Convertible Note-Net of Discount and Long-Term Liabilities: Convertible Note – related party net of Discount of $197,804, and Convertible Note – net of Discount $810,995.