PotNetwork Holding Inc.
Unaudited Consolidated Financial Statements
As on
December 31, 2017
Quote:
NOTE 12 – Notes Payable
A. This note is from the original promissory note dated June 2, 2014 for the principal amount of $1,850,000
o $2,018,624 is the amount due as on 31st December 2016
o The annual interest was eight percent (8%). But the interest does not accrue since the addendum agreement in exchange for a fixed conversion. Refer the terms of a security purchase agreement, “Sign”
o 39,000,000 shares are converted in Q1-2017 for $117,000
o As on 31st March 2017, the balance due on this note is $1,901,624
o 82,000,000 shares are converted in Q3-2017 for $246,000
o As on 31st December 2017, the balance due on this note is $1,655,624.
B. In the second quarter of 2017, “Sign” wire-transferred $285,500 and the company signed a new note with no interest, applying the addendum
agreement in exchange for a fixed conversion.
C. In the third quarter of 2017, “Sign” wire-transferred $477,500 and the company signed a new note with no interest, applying the addendum
agreement in exchange for a fixed conversion.
D. In the fourth quarter of 2017, “Sign” wire-transferred $437,000 and the company signed a new note with no interest, applying the addendum
agreement in exchange for a fixed conversion.
B. In the second quarter of 2017, “Sign” wire-transferred $285,500 and the company signed a new note with no interest, applying the addendum agreement in exchange for a fixed conversion.
C. In the third quarter of 2017, “Sign” wire-transferred $477,500 and the company signed a new note with no interest, applying the addendum agreement in exchange for a fixed conversion.
D. In the fourth quarter of 2017, “Sign” wire-transferred $437,000 and the company signed a new note with no interest, applying the addendum agreement in exchange for a fixed conversion.
