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NOTE 6 - CONVERTIBLE LOANS | 6 Months Ended
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Jun. 30, 2021
Debt Disclosure [Abstract] |
NOTE 6 - CONVERTIBLE LOANS | NOTE 6 - CONVERTIBLE LOANS At June 30, 2021 and December 31, 2020, convertible loans consisted of the following:
|  | June 30, |  | December 31,
|  | 2021 |  | 2020
Promissory notes – Issued in fiscal year 2019, with variable conversion features |  | $ | — |  |  | $ | 5,000
Promissory notes – Issued in fiscal year 2020, with variable conversion features |  |  | — |  |  |  | 623,660
Total convertible notes payable |  |  | — |  |  |  | 628,660
Less: Unamortized debt discount |  |  | — |  |  |  | (372,290)
Total convertible notes |  |  | — |  |  |  | 256,370
Less: current portion of convertible notes |  |  | — |  |  |  | 253,554
Long-term convertible notes |  | $ | — |  |  | $ | 2,816
During the six months ended June 30, 2021 and 2020, the Company recorded interest expense of $33,430 and $643,693 and recognized amortization of discount, included in interest expense, of $372,290 and $706,773, respectively. During the six months ended June 30, 2021 and 2020, the Company repaid notes of $250,000 and $477,190 and accrued interest including prepayment penalty of $6,027 and $138,415, respectively. During the six months ended June 30, 2021, the Company recorded gain on settlement of debt of $11,069. Conversion During the six months ended June 30, 2021, the Company converted notes with principal amounts and accrued interest of $422,295 into 6,080,632 shares of common stock. The corresponding derivative liability at the date of conversion of $708,611 was settled through additional paid in capital.

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- Definition Tabular disclosure of convertible debt instrument. Includes, but is not limited to, principal amount and amortized premium or discount. + References No definition available. + Details
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- References No definition available. + Details
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