Quarterly report pursuant to Section 13 or 15(d)

Note 8 - Convertible notes receivable: Schedule of Convertible Notes Receivable (Tables)

v3.19.1
Note 8 - Convertible notes receivable: Schedule of Convertible Notes Receivable (Tables)
3 Months Ended
Mar. 31, 2019
Tables/Schedules  
Schedule of Convertible Notes Receivable

 

 

 

March 31, 2019

 

December 31, 2018

 

 

 

 

 

November 22, 2017, NeuCourt, Inc. convertible note receivable including accrued interest of $1,710 and $1,384 at March 31, 2019 and December 31, 2018, respectively. The note bears interest at 5% per annum and matures October 25, 2019. 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 NeuCourt’s election to prepay the Note. *

$

26,710

$

26,384

 

 

 

 

 

October 31, 2018, NeuCourt, Inc. convertible note receivable including accrued interest of $1,025 and $417 at March 31, 2019 and December 31, 2018, respectively. 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 NeuCourt’s election to prepay the Note. *

 

51,025

 

50,417

 

 

 

 

 

Total convertible notes receivable

 

77,735

 

76,801

 

 

 

 

 

Less current portion

 

(26,710)

 

(26,384)

 

 

 

 

 

Long term portion

$

51,025

$

50,417