Zerify Inc (ZRFY)

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Check the current toxic convertible debt on recent 10Q
Toxic convertible debt: $4 million dollars
Total liabilities: $15.2 million dollars
Disastrous financial statement



LIABILITIES AND STOCKHOLDERS' DEFICIT

Current Liabilities:

Accounts payable and accrued expenses (includes VIE balances of $13,284 and $27,431, respectively)

$ 1,244,982


$ 1,115,995

Convertible notes payable (net of discount of $317,813 and $422,705, respectively; including $1,438,100 and $1,438,100 in default, respectively)


1,681,237



1,860,395

Convertible notes payable - related parties


298,000



355,500

Notes payable (including $2,117,073 and $2,113,824 in default, respectively) (includes VIE balances of $475,000 and $475,000, respectively)


2,260,763



2,237,484

Notes payable - related parties


1,001,544



742,513

Accrued interest (including $1,411,233 and $1,396,296 due to related parties, respectively) (includes VIE balances of $99,071 and $70,545, respectively)


5,095,128



4,842,215

Contingent payment obligation


1,500,000



1,500,000

Debt settlement obligation


75,881



-

Financing obligation (includes VIE balance of $1,263,200 and $1,263,200, respectively)


1,263,200



1,263,200

Operating lease liability, current portion


49,622



46,952

Derivative liabilities


790,000



1,516,435










Total current liabilities


$15,260,357



$15,480,689