Nate's Food Company (NHMD)

[surfkast]

Notes Payable – Related Parties



During the year ended May 31, 2018 and 2017, the Company borrowed $18,000 and $57,500 from our officer for working capital and converted an existing accounts payable to him of $9,711 and $26,952 to a note payable, respectively. As at May 31, 2018, the total amount owed to this officer was $227,139. Of this amount, $57,500 of the loan is at 10% interest and was to be repaid by June 28, 2017 and currently is in default. $71,902 of the loan is at 10% interest and due on December 31, 2016 and currently in default, and $97,737 of the loan is at 0% interest and due on demand. As at May 31, 2017, the total amount owed to this officer was $199,428. Of this amount, $57,500 of the loan is at 10% interest and to be repaid by June 28, 2017 and currently is in default. $71,902 of the loan is at 10% interest and due on December 31, 2016 and currently in default, and $70,026 of the loan is at 0% interest and due on demand.