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NOTE 5 –LOANS PAYABLE | 6 Months Ended
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Jun. 30, 2021
Debt Disclosure [Abstract] |
NOTE 5 –LOANS PAYABLE | NOTE 5 –LOANS PAYABLE Loans payable at June 30, 2021 and December 31, 2020 consisted of the following:
| June 30, 2021 |  | December 31, 2020 |  | Term |  | Interest rate
Unique Funding Solutions_2 | $ | — |  |  | $ | 2,000 |  |  | Note was issued on October 12, 2018 and due on January 17, 2019 |  |  | 28.6%
YES LENDER LLC 3 |  | — |  |  |  | 5,403 |  |  | Note was issued on August 3, 2020 and due on January 12, 2021 |  |  | 26.0%
Advance Service Group LLC |  | — |  |  |  | 12,143 |  |  | Note was issued on October 20, 2020, 2020 and due on February 19, 2021 |  |  | 29.0%
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, 2021 |  |  | 12.0%
Apollo Management Group, Inc 4 |  | — |  |  |  | 73,684 |  |  | Note was issued on April 2, 2020 and due on October 2, 2021 |  |  | 12.0%
Apollo Management Group, Inc 5 |  | — |  |  |  | 36,842 |  |  | Note was issued on April 7, 2020 and due on October 7, 2021 |  |  | 12.0%
Apollo Management Group, Inc 6 |  | — |  |  |  | 84,211 |  |  | Note was issued on April 15, 2020 and due on October 15, 2021 |  |  | 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 |  | 103,824 |  |  |  | 108,609 |  |  | Note was issued on October 23, 2018 and due on January 3, 2022 |  |  | 5.0%
Swisspeers AG |  | 28,546 |  |  |  | 49,187 |  |  | Note was issued on April 8, 2019 and due on October 4, 2022 |  |  | 7.0%
Darlene Covid19 |  | 108,060 |  |  |  | 113,040 |  |  | Note was issued on April 1, 2020 and due on March 31, 2025 |  |  | 0.0%
Total |  | 240,430 |  |  |  | 1,622,669 |  |  |  |  |  |
Less: Unamortized debt discount |  | — |  |  |  | (19,221 | ) |  |  |  |  |
Total loans payable |  | 240,430 |  |  |  | 1,603,448 |  |  |  |  |  |
Less: Current portion of loans payable |  | (103,824 | ) |  |  | (1,332,612 | ) |  |  |  |  |
Long-term loans payable | $ | 136,606 |  |  | $ | 270,836 |  |  |  |  |  |
Loans payable to related parties at June 30, 2021 and December 31, 2020 consisted of the following:
| June 30, |  | December 31, |  |  |  | Interest
| 2021 |  | 2020 |  | Term |  | rate
Alonso Van Der Biest | $ | 30,000 |  |  | $ | 80,200 |  |  | Note was issued on June 12, 2015 and due on July 31, 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 |  | 883,068 |  |  |  | 1,737,512 |  |  | Note is due on demand |  |  | 0%
49% of Shareholder of SwissLink |  | 216,120 |  |  |  | 226,080 |  |  | Note is due on demand |  |  | 5%
Total |  | 1,129,188 |  |  |  | 2,054,379 |  |  |  |  |  |
Less: Current portion of loans payable |  | 1,129,188 |  |  |  | 2,054,379 |  |  |  |  |  |
Long-term loans payable | $ | — |  |  | $ | — |  |  |  |  |  |
During the six months ended June 30, 2021, the related party loan of $807,103 (Euro 735,000) was forgiven and the Company recorded it as additional paid in capital. During the six months ended June 30, 2021 and 2020, the Company borrowed from third parties totaling $444,444 and $760,139, which includes original issue discount and financing costs of $44,444 and $28,579 and repaid the principal amount of $321,609 and $321,609, respectively. During the six months ended June 30, 2021 and 2020, the Company recorded interest expense of $172,701 and $85,172 and recognized amortization of discount, included in interest expense, of $63,666 and $18,877, respectively. During the six months ended June 30, 2021, the Company settled loans payable of $1,516,667 by 2,230,394 shares of common stock valued at $2,056,530. As a result, the Company recorded loss on settlement of debt of $539,863.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1B -Subparagraph (h) -URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1C -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1I -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1I -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(c)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1B -Subparagraph (g) -URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1C -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1C -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1E -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495348-112611 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1B -URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1I -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1B -Subparagraph (i) -URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611 + Details
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