Asia Broadband Inc (AABB)

[alidare]

5. Convertible Notes Payable
On January 15, 2016, the Company received $311,000 from Whitecastle Capital Corp. for a convertible note with an interest rate of 8% per annum and *****has conversion price of $0.05, *****after a 2 year period, and a 4 year term to maturity. At the option of the holder, the note was increased by $600,000 in 2020. As of March 31, 2022, the total amount of the debt outstanding with accrued interest was $685,444.