| Schedule of convertible notes receivable |
Convertible
notes receivable consists of the following:
Schedule
of convertible notes receivable
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June 30, 2021 |
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December 31, 2020 |
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| November 22, 2017, NeuCourt, Inc. convertible note receivable including accrued interest of $2,102 and $1,454 at June 30, 2021 and December 31, 2020. 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 a cash payment of $2,496 for interest accrued through November 4, 2019. 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 $750,000, (ii) on the election of NeuCourt on maturity of the Note, or (iii) on election of Mentor following NeuCourt’s election to prepay the Note. * |
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$ |
27,102 |
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$ |
26,454 |
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| October 31, 2018, NeuCourt, Inc. convertible note receivable including accrued interest of $6,945 and $5,584 at June 30, 2021 and December 31, 2020. The note bears interest at 5% per annum and matures October 31, 2022. 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 $750,000, (ii) on the election of NeuCourt on the maturity of the Note, or (iii) on the election of Mentor following NeuCourt’s election to prepay the Note. * |
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56,945 |
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55,584 |
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| Total convertible notes receivable |
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84,047 |
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82,038 |
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| Less current portion |
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(27,102 |
) |
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(26,454 |
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| Long term portion |
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$ |
56,945 |
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$ |
55,584 |
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