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NOTE 5 -LOANS PAYABLE

3 Months Ended

Mar. 31, 2021

NOTE 5 –LOANS PAYABLE

Loans payable at March 31, 2021 and December 31, 2020 consisted of the following:

		March 31,		December 31,		Interest
		2021		2020	Term	rate
Unique Funding Solutions_2	$	2,000	$	2,000	Note was issued on October 12, 2018 and due on January 17, 2019	28.6%
YES LENDER LLC 3		1,063		5,403	Note was issued on August 3, 2020 and due on January 12, 2021	26.0%
Apollo Management Group, Inc		-		63,158	Note was issued on March 18, 2020 and due on December 15, 2020	12.0%
Apollo Management Group, Inc 2		-		68,421	Note was issued on March 25, 2020 and due on December 15, 2020	12.0%
Apollo Management Group, Inc 3		-		66,316	Note was issued on April 1, 2020 and due on October 1, 2020	12.0%
Apollo Management Group, Inc 4		-		73,684	Note was issued on April 2, 2020 and due on October 2, 2020	12.0%
Apollo Management Group, Inc 5		-		36,842	Note was issued on April 7, 2020 and due on October 7, 2020	12.0%
Apollo Management Group, Inc 6		-		84,211	Note was issued on April 15, 2020 and due on October 15, 2020	12.0%
Apollo Management Group, Inc 7		-		55,000	Note was issued on April 20, 2020 and due on December 15, 2020	12.0%
Apollo Management Group, Inc 14		-		32,432	Note was issued on December 4, 2020 and due on January 4, 2021	12.0%
Labrys Fund		-		280,000	Note was issued on June 26, 2020 and due on April 1, 2021	12.0%
M2B Funding Corp		-		300,000	Note was issued on September 1, 2020 and due on September 1, 2021	12.0%
M2B Funding Corp 1		-		77,778	Note was issued on December 10, 2020 and due on January 9, 2021	22.0%
M2B Funding Corp 2		-		27,778	Note was issued on December 18, 2020 and due on January 17, 2021	22.0%
M2B Funding Corp 3		-		55,556	Note was issued on December 24, 2020 and due on January 23, 2021	22.0%
M2B Funding Corp 4		-		111,111	Note was issued on December 30, 2020 and due on January 29, 2021	22.0%
Martus		102,008		108,609	Note was issued on October 23, 2018 and due on January 3, 2022	5.0%
Swisspeers AG		37,196		49,187	Note was issued on April 8, 2019 and due on October 4, 2022	7.0%
Darlene Covi19		106,170		113,040	Note was issued on April 1, 2020 and due on September 30, 2027	0.0%
Total		248,437		1,622,669
Less: Unamortized debt discount		-		(19,221)
Total loans payable		248,437		1,603,448
Less: Current portion of loans payable		(3,063)		(1,332,612)
Long-term loans payable	$	245,374	$	270,836

Loans payable to related parties at March 31, 2021 and December 31, 2020 consisted of the following:

		March 31,		December 31,		Interest
		2021		2020	Term	rate
Alonso Van Der Biest	$	80,200	$	80,200	Note was issued on June 12, 2015 and originally due on June 11, 2019. The note was extended to July 2021.	16.5%
Alvaro Quintana		-		10,587	Note was issue on September 30, 2016 and due on September 29, 2019	0%
49% of Shareholder of SwissLink		1,631,914		1,737,512	Note is due on demand	0%
49% of Shareholder of SwissLink		212,340		226,080	Note is due on demand	5%
Total		1,924,454		2,054,379
Less: Current portion of loans payable		1,924,454		2,054,379
Long-term loans payable	$	-	$	-

During the three months ended March 31, 2021 and 2020, the Company borrowed from third parties totaling $444,444 and $210,000, which includes original issue discount and financing costs of $44,444 and $0 and repaid the principal amount of $309,082 and $98,646, respectively.

During the three months ended March 31, 2021 and 2020, the Company recorded interest expense of $162,459 and $48,294 and recognized amortization of discount, included in interest expense, of $63,666 and $0, respectively.

During the three months ended March 31, 2021, the Company settled loans payable of $1,516,667 by 2,230,994 shares of common stock valued at $2,056,530. As a result, the Company recorded loss on settlement of debt of $539,863. As of March 31, 2021, the shares were not yet issued and recorded as stock payable.