That's not the total of what I wanted to show.
Acquisition note payable, including accrued interest 1,950,000
This was in conjunction with the aforementioned "notes receivable" dating back to 2020.
Also, in that annual was this.....
Convertible loans, including accrued interest 2,497,404
It's all a lot of nonsense of course. Where did this $1,250,000 come from?
On October 31, 2019, the Company, through its now wholly-owned subsidiary, loaned $1,250,000 to a third party. This
note is secured by ten vacation properties. This note carries an 8% interest rate and matures on November 11, 2024.
NOTE 6 - THIRD PARTY CONVERTIBLE LOANS
On June 30, 2023 two holders of convertible notes forgave the bulk of their notes. As a result, the Company
recorded a gain on debt forgiveness of $2,072,543.
There are two remaining third party convertible notes, one of which resulted from a transfer of $414,000 principal
of a note to another third party, which carries an 8% interest rate and matures January 30, 2024. At September 30,
2023,
$22,080 in interest has been accrued on this note.
The second remaining convertible note was issued on June 12, 2023, for cash in the amount of $16,000 which was
utilized to reduce accrued compensation.. This note carries an 8% interest rate and matures on December 11, 2023.
At September 30, 2023, $386 in interest has been accrued on this note.
NOTE 7 - RELATED PARTY CONVERTIBLE LOANS
On September 10, 2023, the holder of a convertible note converted 100% of the principal balance of $175,000 into
43,057,901 shares of common stock. This holder forgave the then accrued interest of $142,001, which the
Company recorded as a gain on debt forgiveness.
There are two remaining related party convertible notes, one in the principal amount of $50,000, with an 8% interest
rate and $53,500 of accrued interest at September 30, 2023
You can lead a horse to water. But you can't make him get down on one knee and do an Al Jolson impression!
