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NOTE 7 -LOANS PAYABLE

6 Months Ended

Jun. 30, 2020

NOTE 7 –LOANS PAYABLE

Loans payable at June 30, 2020 and December 31, 2019 consist of the following:

		June 30,		December 31,		Interest
		2020		2019	Term	rate
Unique Funding Solutions_2	$	2,000	$	2,000	Note was issued on October 12, 2018 and due on January 17, 2019	28.60%
YES LENDER LLC		-		25,500	October 17, 2019 and due on March 31, 2020	30.00%
Complete Business Solutions_8		9,170		52,170	December 24, 2010 and due on August 20, 2020	26.00%
Nicolas Arvelo		5,000		5,000	Note was issued on November 20, 2019 and due on November 20, 2020	12.00%
Martin Mendoza Diaz		5,000		5,000	Note was issued on November 20, 2019 and due on November 20, 2020	12.00%
Martus		101,582		99,399	Note was issued on October 23, 2018 and due on January 3, 2022	5.00%
Swisspeers AG		63,429		78,623	Note was issued on April 8, 2019 and due on October 4, 2022	7.00%
Apollo Management Group, Inc		63,158		-	Note was issued on March 18, 2020 and due on August 18, 2020	12.00%
Apollo Management Group, Inc 2		68,421		-	Note was issued on March 25, 2020 and due on August 25, 2020	12.00%
Apollo Management Group, Inc 3		66,316		-	Note was issued on April 1, 2020 and due on October 1, 2021	12.00%
Apollo Management Group, Inc 4		73,684		-	Note was issued on April 2, 2020 and due on October 2, 2021	12.00%
Apollo Management Group, Inc 5		36,842		-	Note was issued on April 7, 2020 and due on October 7, 2021	12.00%
Apollo Management Group, Inc 6		84,211		-	Note was issued on April 15, 2020 and due on October 15, 2021	12.00%
Apollo Management Group, Inc 7		77,095		-	Note was issued on April 20, 2020 and due on May 20, 2021	12.00%
Labrys Fund		700,000		-	Note was issued on June 26, 2020 and due on April 1, 2021	12.00%
YES LENDER LLC 2		24,093		-	Note was issued on January 8, 2020 and due on August 12, 2020	29.00%
Darlene Covi19		105,600		-	Note was issued on April 1, 2020 and due on March 31, 2025	0.00%
Total		1,485,601		267,692
Less: Unamortized debt discount		(9,702)		-
Total loans payable		1,475,899		267,692
Less: Current portion of loans payable		(1,205,288)		(89,671)
Long-term loans payable	$	270,611	$	178,021

Loans payable to related parties at June 30, 2020 and December 31, 2019 consist of the following:

		June 30,		December 31,
		2020		2019
Alonso Van Der Biest	$	80,200	$	80,200
Alvaro Quintana		10,587		10,587
49% of Shareholder of Swisslink		1,623,154		1,588,261
49% of Shareholder of Swisslink		211,200		206,660
Total		1,925,141		1,885,708
Less: Current portion of loans payable		1,925,141		1,885,708
Long-term loans payable	$	-	$	-

During the six months ended June 30, 2020 and 2019, the Company borrowed amounts from third parties totaling $760,139 and $82,353, which includes original issue discount and financing costs of $28,579 and $17,953, respectively, and repaid the principal amount of $247,855 and $171,302, respectively.

During the six months ended June 30, 2020 and 2019, the Company recorded interest expense of $85,172 and $90,096 and recognized amortization of discount, included in interest expense, of $18,877 and $17,953, respectively.