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NOTE 7 -LOANS PAYABLE

12 Months Ended

Dec. 31, 2019

NOTE 7 –LOANS PAYABLE

Loans payable at December 31, 2019 and 2018 consisted of the following:

		December 31,		December 31,		Interest
		2019		2018	Term	rate
Complete Business Solutions_3	$	-	$	80,994	Note was issued on April 13, 2018 and due on March 9, 2019	33.30%
Green Capital Funding_2		-		89	Note was issued on October 1, 2018 and due on February 27, 2019	31.50%
Unique Funding Solutions_2		2,000		9,000	Note was issued on October 12, 2018 and due on January 17, 2019	28.60%
Green Note Capital Partner		-		18,278	Note was issued on October 22, 2018 and due on February 22, 2019	28.60%
Queen Funding LLC		-		17,083	Note was issued on November 29, 2018 and due on March 13, 2019	31.50%
Green Capital Funding_3		-		69,113	Note was issued on December 20, 2018 and due on May 15, 2019	31.50%
YES LENDER LLC		25,500		-	October 17, 2019 and due on March 31, 2020	30%
Complete Business Solutions_8		52,171		-	December 24, 2010 and due on June 09, 2020	26.00%
Nicolas Arvelo		5,000		-	Note was issued on November 20, 2019 and due on May 20, 2020	12.00%
Martin Mendoza Diaz		5,000		-	Note was issued on November 20, 2019 and due on May 20, 2020	12.00%
Martus		99,399		-	Note is due on January 3, 2022	5.00%
Swisspeers AG		78,623		-	Note is due on October 4, 2022	7.00%
Total		267,693		194,557
Less: Current portion of loans payable		89,671		194,557
Long-term loans payable	$	178,022	$	-

Loans payable related parties at December 31, 2019 and 2018 consisted of the following:

		December 31,		December 31,		Interest
		2019		2018	Term	rate
Alonso Van Der Biest	$	80,200	$	80,200	Note was issued on June 12, 2015 and due on June 11, 2019	16.50%
Alvaro Quintana		10,587		10,587	Note was issue on September 30, 2016 and due on September 29, 2019	0%
49% of Shareholder of Swisslink		1,588,261		-	Note is due on demand	0%
49% of Shareholder of Swisslink		206,660		-	Note is due on demand	5%
Total		1,885,708		90,787
Less: Current portion of loans payable		1,885,708		90,787
Long-term loans payable	$	-	$	-

During the year ended December 31, 2019 and 2018, the Company borrowed from third parties $424,960 and $796,864 and repaid the principal amount of $527,239 and $830,265, respectively.

During the year ended December 31, 2019 and 2018, the Company recorded interest expense of $207,660 and $392,075, respectively.