Schedule of Convertible Notes Receivable |
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2019 |
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2018 |
November 22, 2017, NeuCourt, Inc. convertible note receivable including accrued interest of $191 and $1,384 at December 31, 2019 and 2018. The note bears interest at 5% per annum, originally matured November 22, 2019, and was extended to mature November 22, 2021. Principal and accrued interest are due at maturity. Upon extension, the Company received $2,496 of accrued interest. Principal and unpaid interest may be converted into a blend of shares of a to-be-created series of Preferred Stock and Common Stock of NeuCourt (i) on closing of a future financing round of at least $750,000, (ii) on the election of NeuCourt on maturity of the Note, or (iii) on election of Mentor following NeuCourts election to prepay the Note. * |
$ |
25,191 |
$ |
26,384 |
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October 31, 2018, NeuCourt, Inc. convertible note receivable including accrued interest of $2,930 and $417 at December 31, 2019 and 2018. The note bears interest at 5% per annum and matures October 31, 2020. Principal and accrued interest are due at maturity. Principal and unpaid interest may be converted into a blend of shares of a to-be-created series of Preferred Stock and Common Stock of NeuCourt (i) on closing of a future financing round of at least $750,000, (ii) on the election of NeuCourt on maturity of the Note, or (iii) on election of Mentor following NeuCourts election to prepay the Note. * |
|
52,930 |
|
50,417 |
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Total convertible notes receivable |
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78,121 |
|
76,801 |
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|
|
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|
Less current portion |
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(52,930) |
|
(26,384) |
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|
|
|
|
Long term portion |
$ |
25,191 |
$ |
50,417 |
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