Quarterly report pursuant to Section 13 or 15(d)

LOANS PAYABLE

v3.19.2
LOANS PAYABLE
6 Months Ended
Jun. 30, 2019
Loans Payable [Abstract]  
LOANS PAYABLE
8 LOANS PAYABLE

 

Loans payable consist of the following: 

 

Description   Interest
Rate
    Maturity   June 30,
2019
    December 31,
2018
 
Strategic IR     15 %   February 10, 2020   $ 188,712     $ 177,159  
                             
Victoria Akhmetova     15 %   January 11, 2020     59,808       56,044  
                             
Boba Management Corporation     10 %   February 20, 2020     20,700        
      10 %   March 1, 2020     20,663        
      10 %   March 26, 2020     20,526        
      10 %   April 12, 2020     20,000       -  
      10 %   May 7, 2020     10,000       -  
      10 %   May 13,2020     15,000       -  
      10 %   May 20, 2020     15,000       -  
      10 %   May 23, 2020     5,000       -  
Total loans payable               $ 375,409     $ 233,203  

 

 

Strategic IR

 

Strategic IR advanced the Company $168,000 between January 16 and June 15, 2018. This loan was formalized into a written note on October 13, 2018 and bears interest at the rate of 10% per annum. The note had a maturity date of February 10, 2019. On March 18, 2019 the note was extended to February 10, 2020, and the interest rate was changed to 15%. The note may be prepaid at any time without premium or penalty. The balance of the note plus accrued interest at June 30, 2019 was $188,712.

  

Viktoria Akhmetova

 

On April 17, 2018, the Company issued a Promissory Note in the aggregate principal amount of $50,000 to Viktoria Akhmetova. The note had a maturity date of September 13, 2018 and a coupon of eighteen percent per annum. The Company has the right to prepay the note without penalty prior to maturity date. On September 13, 2018, the maturity date of the note was extended to January 11, 2019. On March 19, 2019, the note was extended to January 11, 2020, and the interest rate changed to 15%. The balance of the note plus accrued interest at June 30, 2019 was $59,909.

 

Boba Management Corporation

 

February 20, 2020

On February 22, 2019, the Company issued a Promissory Note in the aggregate principal amount of $20,000 to Boba Management Corporation. The note had a maturity date of February 22, 2020 and a coupon of ten percent per annum. The Company has the right to prepay the note without penalty prior to maturity date. The balance of the note plus accrued interest at June 30, 2019 was $20,701.

 

March 1, 2020

On March 1, 2019, the Company issued a Promissory Note in the aggregate principal amount of $20,000 to Boba Management Corporation. The note had a maturity date of March 1, 2020 and a coupon of ten percent per annum. The Company has the right to prepay the note without penalty prior to maturity date. The balance of the note plus accrued interest at June 30, 2019 was $20,663.

 

March 26, 2020 

On March 26, 2019, the Company issued a Promissory Note in the aggregate principal amount of $20,000 to Boba Management Corporation. The note had a maturity date of March 26, 2020 and a coupon of ten percent per annum. The Company has the right to prepay the note without penalty prior to maturity date. The balance of the note plus accrued interest at June 30, 2019 was $20,526.

 

April 12, 2020 

On April 12, 2019, the Company issued a Promissory Note in the aggregate principal amount of $20,000 to Boba Management Corporation. The note had a maturity date of April 12, 2020. The Company has the right to prepay the note without penalty prior to maturity date. The balance of the note at June 30, 2019 was $20,000.

 

May 7, 2020 

On May 7, 2019, the Company issued a Promissory Note in the aggregate principal amount of $00,000 to Boba Management Corporation. The note had a maturity date of May 7, 2020. The Company has the right to prepay the note without penalty prior to maturity date. The balance of the note at June 30, 2019 was $10,000.

 

May 13, 2020 

On May 13, 2019, the Company issued a Promissory Note in the aggregate principal amount of $15,000 to Boba Management Corporation. The note had a maturity date of May 13, 2020. The Company has the right to prepay the note without penalty prior to maturity date. The balance of the note at June 30, 2019 was $15,000.

 

May 20, 2020 

On May 20, 2019, the Company issued a Promissory Note in the aggregate principal amount of $15,000 to Boba Management Corporation. The note had a maturity date of May 20, 2020. The Company has the right to prepay the note without penalty prior to maturity date. The balance of the note at June 30, 2019 was $15,000.

 

May 23, 2020

On May 23, 2019, the Company issued a Promissory Note in the aggregate principal amount of $5,000 to Boba Management Corporation. The note had a maturity date of May 23, 2020. The Company has the right to prepay the note without penalty prior to maturity date. The balance of the note at June 30, 2019 was $5,000.