$SFOR Skin in the Game by Mgt- Kay, Ram, His Spous
Post# of 82672
Quote:
Eighteen unsecured notes payable to the Company’s Chief Executive Officer ranging in interest rates of 0% per annum to 10% per annum. The notes are unsecured and have extended due dates of December 31, 2019. At June 30, 2019 and December 31, 2018, the balance due under these notes was $742,513.
At December 31, 2018, accrued interest due for the notes was $703,944. During the six months ended June 30, 2019, interest of $27,810 was accrued. At June 30, 2019, accrued interest due for the notes was $731,754.
Quote:
At June 30, 2019 and December 31, 2018, convertible notes payable - related parties consist of 12 convertible notes payable in the aggregate of $355,500. The notes are unsecured and have extended due dates of December 31, 2019.
Six notes totaling $268,000 are due to the Company’s Chief Executive Officer, at a compounded interest rate of 8% per annum;
Two notes totaling $57,000 are due to the Company’s VP of Technology, interest at prime plus 2% and prime plus 4% per annum; and
Four notes totaling $30,000 are due to the spouse of the Company’s Chief Technology Officer at a compounded interest rate of 8% per annum.