| Schedule of Convertible Debts and Outstanding Balances |
The specific terms of the convertible notes and outstanding balances as of March 31, 2022 are listed in the tables
below.
Schedule of Convertible Debts and Outstanding Balances
| Inception Date |
|
Term |
|
Loan Amount |
|
|
Outstanding balance with OID |
|
|
Original Issue Discount (OID) |
|
|
Interest Rate |
|
|
Conversion Price |
|
|
Deferred Finance Fees |
|
|
Discount for conversion
feature and warrants/shares
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
May 17, 2018 (1)(2) |
|
12 months |
|
$ |
380,000 |
|
|
$ |
98,544 |
|
|
$ |
15,200 |
|
|
|
8 |
% |
|
$ |
2.50 |
|
|
$ |
15,200 |
|
|
$ |
332,407 |
|
|
January
3, 2019 (1)(4) |
|
6 months |
|
$ |
50,000 |
|
|
$ |
50,000 |
|
|
$ |
2,500 |
|
|
|
24 |
% |
|
$ |
7.50 |
|
|
$ |
2,500 |
|
|
$ |
- |
|
|
June 4, 2019 (1)(2) |
|
9 months |
|
$ |
500,000 |
|
|
$ |
302,484 |
|
|
$ |
- |
|
|
|
8 |
% |
|
$ |
2.50 |
|
|
$ |
40,500 |
|
|
$ |
70,631 |
|
|
July 19, 2019 (1) (2) |
|
12 months |
|
$ |
115,000 |
|
|
$ |
115,000 |
|
|
$ |
- |
|
|
|
4 |
% |
|
$ |
2.50 |
|
|
$ |
5,750 |
|
|
$ |
15,460 |
|
|
September 27,2019 (1) (2) |
|
12 months |
|
$ |
78,750 |
|
|
$ |
78,750 |
|
|
$ |
- |
|
|
|
4 |
% |
|
$ |
2.50 |
|
|
$ |
3,750 |
|
|
$ |
13,759 |
|
|
October 24, 2019 (1) (2) |
|
12 months |
|
$ |
78,750 |
|
|
$ |
78,750 |
|
|
$ |
- |
|
|
|
4 |
% |
|
$ |
2.50 |
|
|
$ |
3,750 |
|
|
$ |
- |
|
|
November 15,2019 (1) |
|
12 months |
|
$ |
385,000 |
|
|
$ |
320,000 |
|
|
$ |
35,000 |
|
|
|
10 |
% |
|
$ |
2.50 |
|
|
$ |
35,000 |
|
|
$ |
90,917 |
|
|
January 2,2020 (1) |
|
12 months |
|
$ |
330,000 |
|
|
$ |
330,000 |
|
|
$ |
30,000 |
|
|
|
10 |
% |
|
$ |
2.50 |
|
|
$ |
30,000 |
|
|
$ |
91,606 |
|
|
January 24,2020 (1) |
|
12 months |
|
$ |
247,500 |
|
|
$ |
247,500 |
|
|
$ |
22,500 |
|
|
|
10 |
% |
|
$ |
2.50 |
|
|
$ |
22,500 |
|
|
$ |
89,707 |
|
|
January 29, 2020 (1) |
|
12 months |
|
$ |
363,000 |
|
|
$ |
363,000 |
|
|
$ |
33,000 |
|
|
|
10 |
% |
|
$ |
2.50 |
|
|
$ |
33,000 |
|
|
$ |
297,000 |
|
|
February 12, 2020 (1) |
|
12 months |
|
$ |
275,000 |
|
|
$ |
275,000 |
|
|
$ |
25,000 |
|
|
|
10 |
% |
|
$ |
2.50 |
|
|
$ |
25,000 |
|
|
$ |
225,000 |
|
|
February 19,2020 (1) |
|
12 months |
|
$ |
165,000 |
|
|
$ |
165,000 |
|
|
$ |
15,000 |
|
|
|
10 |
% |
|
$ |
2.50 |
|
|
$ |
15,000 |
|
|
$ |
135,000 |
|
|
March 11,2020 (1) |
|
12 months |
|
$ |
330,000 |
|
|
$ |
330,000 |
|
|
$ |
30,000 |
|
|
|
10 |
% |
|
$ |
2.50 |
|
|
$ |
30,000 |
|
|
$ |
232,810 |
|
|
March 13, 2020 (1) |
|
12 months |
|
$ |
165,000 |
|
|
$ |
165,000 |
|
|
$ |
15,000 |
|
|
|
10 |
% |
|
$ |
2.50 |
|
|
$ |
15,000 |
|
|
$ |
60,705 |
|
|
March 26, 2020 (1) |
|
12 months |
|
$ |
111,100 |
|
|
$ |
111,100 |
|
|
$ |
10,100 |
|
|
|
10 |
% |
|
$ |
2.50 |
|
|
$ |
10,100 |
|
|
$ |
90,900 |
|
|
April 8, 2020 (1) |
|
12 months |
|
$ |
276,100 |
|
|
$ |
276,100 |
|
|
$ |
25,100 |
|
|
|
10 |
% |
|
$ |
2.50 |
|
|
$ |
25,000 |
|
|
$ |
221,654 |
|
|
April 17,2020 (1) |
|
12 months |
|
$ |
143,750 |
|
|
$ |
143,750 |
|
|
$ |
18,750 |
|
|
|
10 |
% |
|
$ |
2.50 |
|
|
$ |
- |
|
|
$ |
96,208 |
|
|
April 30,2020 (1) |
|
12 months |
|
$ |
546,250 |
|
|
$ |
546,250 |
|
|
$ |
71,250 |
|
|
|
10 |
% |
|
$ |
2.50 |
|
|
$ |
47,500 |
|
|
$ |
427,500 |
|
|
May 6, 2020 (1) |
|
12 months |
|
$ |
460,000 |
|
|
$ |
460,000 |
|
|
$ |
60,000 |
|
|
|
10 |
% |
|
$ |
2.50 |
|
|
$ |
40,000 |
|
|
$ |
360,000 |
|
|
May 18,2020 (1) |
|
12 months |
|
$ |
546,250 |
|
|
$ |
221,250 |
|
|
$ |
46,250 |
|
|
|
10 |
% |
|
$ |
2.50 |
|
|
$ |
35,500 |
|
|
$ |
439,500 |
|
|
June 2, 2020 (1) |
|
12 months |
|
$ |
902,750 |
|
|
$ |
652,750 |
|
|
$ |
92,750 |
|
|
|
10 |
% |
|
$ |
2.50 |
|
|
$ |
58,900 |
|
|
$ |
708,500 |
|
|
June 12,2020 (1) |
|
12 months |
|
$ |
57,500 |
|
|
$ |
57,500 |
|
|
$ |
7,500 |
|
|
|
10 |
% |
|
$ |
2.50 |
|
|
$ |
5,000 |
|
|
$ |
45,000 |
|
|
June 22, 2020 (1) |
|
12 months |
|
$ |
138,000 |
|
|
$ |
138,000 |
|
|
$ |
18,000 |
|
|
|
10 |
% |
|
$ |
2.50 |
|
|
$ |
12,000 |
|
|
$ |
108,000 |
|
|
July 7, 2020 (1) |
|
12 months |
|
$ |
586,500 |
|
|
$ |
586,500 |
|
|
$ |
76,500 |
|
|
|
10 |
% |
|
$ |
2.50 |
|
|
$ |
51,000 |
|
|
$ |
400,234 |
|
|
July 17, 2020 (1) |
|
12 months |
|
$ |
362,250 |
|
|
$ |
362,250 |
|
|
$ |
47,250 |
|
|
|
10 |
% |
|
$ |
2.50 |
|
|
$ |
31,500 |
|
|
$ |
185,698 |
|
|
July 29, 2020 (1) |
|
12 months |
|
$ |
345,000 |
|
|
$ |
345,000 |
|
|
$ |
45,000 |
|
|
|
10 |
% |
|
$ |
2.50 |
|
|
$ |
30,000 |
|
|
$ |
241,245 |
|
|
July 21, 2020 (1) (5) |
|
12 months |
|
$ |
115,000 |
|
|
$ |
115,000 |
|
|
$ |
15,000 |
|
|
|
10 |
% |
|
$ |
2.50 |
|
|
$ |
10,000 |
|
|
$ |
24,875 |
|
|
August 14, 2020 (1) |
|
12 months |
|
$ |
762,450 |
|
|
$ |
462,450 |
|
|
$ |
69,450 |
|
|
|
10 |
% |
|
$ |
2.50 |
|
|
$ |
66,300 |
|
|
$ |
580,124 |
|
|
September 10, 2020 (1) |
|
12 months |
|
$ |
391,000 |
|
|
$ |
391,000 |
|
|
$ |
51,000 |
|
|
|
10 |
% |
|
$ |
2.50 |
|
|
$ |
34,000 |
|
|
$ |
231,043 |
|
|
September 21, 2020 (1) (5) |
|
12 months |
|
$ |
345,000 |
|
|
$ |
345,000 |
|
|
$ |
45,000 |
|
|
|
10 |
% |
|
$ |
2.50 |
|
|
$ |
30,000 |
|
|
$ |
66,375 |
|
|
September 23, 2020 (1) |
|
12 months |
|
$ |
115,000 |
|
|
$ |
15,000 |
|
|
$ |
15,000 |
|
|
|
10 |
% |
|
$ |
2.50 |
|
|
$ |
10,000 |
|
|
$ |
20,500 |
|
|
December 3, 2020 (1) |
|
12 months |
|
$ |
299,000 |
|
|
$ |
299,000 |
|
|
$ |
39,000 |
|
|
|
10 |
% |
|
$ |
2.50 |
|
|
$ |
26,000 |
|
|
$ |
197,882 |
|
|
October 22, 2020 (1) (5) |
|
12 months |
|
$ |
115,000 |
|
|
$ |
115,000 |
|
|
$ |
15,000 |
|
|
|
10 |
% |
|
$ |
2.50 |
|
|
$ |
10,000 |
|
|
$ |
18,875 |
|
|
February 17, 2021 (1) |
|
12 months |
|
$ |
230,000 |
|
|
$ |
230,000 |
|
|
$ |
30,000 |
|
|
|
10 |
% |
|
$ |
2.50 |
|
|
$ |
20,000 |
|
|
$ |
180,000 |
|
|
March 23, 2021 (1) |
|
12 months |
|
$ |
55,000 |
|
|
$ |
55,000 |
|
|
$ |
5,000 |
|
|
|
10 |
% |
|
$ |
2.50 |
|
|
$ |
- |
|
|
$ |
36,431 |
|
|
May
6, 2021 (1) |
|
12 months |
|
$ |
402,500 |
|
|
$ |
402,500 |
|
|
$ |
52,500 |
|
|
|
10 |
% |
|
$ |
2.50 |
|
|
$ |
35,000 |
|
|
$ |
312,551 |
|
| June 17, 2021 |
|
12 months |
|
$ |
230,000 |
|
|
$ |
230,000 |
|
|
$ |
30,000 |
|
|
|
10 |
% |
|
$ |
2.50 |
|
|
$ |
20,000 |
|
|
$ |
144,760 |
|
| June 25, 2021 |
|
12 months |
|
$ |
977,500 |
|
|
$ |
977,500 |
|
|
$ |
127,500 |
|
|
|
10 |
% |
|
$ |
2.50 |
|
|
$ |
- |
|
|
$ |
773,802 |
|
|
June
3, 2021 (1) |
|
6 months |
|
$ |
50,000 |
|
|
$ |
50,000 |
|
|
$ |
1,500 |
|
|
|
12 |
% |
|
$ |
2.50 |
|
|
$ |
- |
|
|
$ |
7,948 |
|
|
March
1, 2022 (13) |
|
6 months |
|
$ |
700,000 |
|
|
$ |
700,000 |
|
|
$ |
84,000 |
|
|
|
12 |
% |
|
|
(6 |
) |
|
$ |
- |
|
|
$ |
- |
|
| July 3, 2021 |
|
12 months |
|
$ |
115,000 |
|
|
$ |
115,000 |
|
|
$ |
15,000 |
|
|
|
10 |
% |
|
$ |
2.50 |
|
|
$ |
10,000 |
|
|
$ |
90,000 |
|
|
February
1, 2022 (14) |
|
6 months |
|
$ |
260,000 |
|
|
$ |
210,000 |
|
|
$ |
10,000 |
|
|
|
12 |
% |
|
$ |
(7 |
) |
|
$ |
2,000 |
|
|
$ |
- |
|
|
February
4, 2022 (13) |
|
8 months |
|
$ |
500,000 |
|
|
$ |
500,000 |
|
|
$ |
30,000 |
|
|
|
12 |
% |
|
$ |
(11 |
) |
|
$ |
- |
|
|
$ |
- |
|
|
July
6, 2021 (1) |
|
6 months |
|
$ |
130,000 |
|
|
$ |
130,000 |
|
|
$ |
10,000 |
|
|
|
12 |
% |
|
$ |
2.50 |
|
|
$ |
- |
|
|
$ |
- |
|
|
July
15, 2021 (1) |
|
6 months |
|
$ |
100,000 |
|
|
$ |
45,000 |
|
|
$ |
5,000 |
|
|
|
12 |
% |
|
|
(7 |
) |
|
$ |
- |
|
|
$ |
57,716 |
|
|
January
19, 2022 (14) |
|
6 months |
|
$ |
52,000 |
|
|
$ |
52,000 |
|
|
$ |
2,000 |
|
|
|
12 |
% |
|
$ |
2.50 |
|
|
$ |
2,000 |
|
|
$ |
- |
|
|
January
20, 2022 (3) (14) |
|
6 months |
|
$ |
352,188 |
|
|
$ |
352,188 |
|
|
$ |
45,938 |
|
|
|
(3 |
) |
|
|
(8 |
) |
|
$ |
- |
|
|
$ |
- |
|
|
January
20, 2022 (3) (14) |
|
6 months |
|
$ |
352,188 |
|
|
$ |
352,188 |
|
|
$ |
45,938 |
|
|
|
(3 |
) |
|
|
(8 |
) |
|
$ |
- |
|
|
$ |
- |
|
|
January
20, 2022 (3) (14) |
|
6 months |
|
$ |
140,875 |
|
|
$ |
140,875 |
|
|
$ |
18,375 |
|
|
|
(3 |
) |
|
|
(8 |
) |
|
$ |
- |
|
|
$ |
- |
|
|
August 31, 2021 |
|
12 months |
|
$ |
189,750 |
|
|
$ |
189,750 |
|
|
$ |
24,750 |
|
|
|
10 |
% |
|
|
(9 |
) |
|
$ |
16,500 |
|
|
$ |
148,500 |
|
|
Sept.
8, 2021 (1) |
|
8 months |
|
$ |
78,000 |
|
|
$ |
78,000 |
|
|
$ |
3,000 |
|
|
|
12 |
% |
|
|
(7 |
) |
|
$ |
- |
|
|
$ |
40,449 |
|
|
Sept.
10, 2021 (1) |
|
8 months |
|
$ |
100,000 |
|
|
$ |
100,000 |
|
|
$ |
4,000 |
|
|
|
12 |
% |
|
|
(7 |
) |
|
$ |
- |
|
|
$ |
43,520 |
|
|
Sept. 15, 2021 (1) |
|
6 months |
|
$ |
250,000 |
|
|
$ |
250,000 |
|
|
$ |
12,500 |
|
|
|
12 |
% |
|
|
(7 |
) |
|
$ |
- |
|
|
$ |
108,801 |
|
|
Sept.
16, 2021 (1) |
|
6 months |
|
$ |
250,000 |
|
|
$ |
250,000 |
|
|
$ |
12,500 |
|
|
|
12 |
% |
|
|
(7 |
) |
|
$ |
- |
|
|
$ |
112,337 |
|
| Sept. 24, 2021 |
|
8 months |
|
$ |
125,000 |
|
|
$ |
125,000 |
|
|
$ |
6,250 |
|
|
|
12 |
% |
|
|
(7 |
) |
|
$ |
- |
|
|
$ |
61,876 |
|
|
Sept.
15, 2021 (1) |
|
6 months |
|
$ |
250,000 |
|
|
$ |
250,000 |
|
|
$ |
37,500 |
|
|
|
12 |
% |
|
|
(7 |
) |
|
$ |
30,000 |
|
|
$ |
- |
|
|
October
21, 2021 (5) |
|
12 months |
|
$ |
189,750 |
|
|
$ |
189,750 |
|
|
$ |
24,750 |
|
|
|
12 |
% |
|
$ |
2.50 |
|
|
$ |
16,500 |
|
|
$ |
87,332 |
|
|
November
1, 2021 (5) |
|
12 months |
|
$ |
189,750 |
|
|
$ |
189,750 |
|
|
$ |
24,750 |
|
|
|
12 |
% |
|
$ |
2.50 |
|
|
$ |
- |
|
|
$ |
96,991 |
|
| December 7, 2021 |
|
12 months |
|
$ |
169,500 |
|
|
$ |
118,650 |
|
|
$ |
19,500 |
|
|
|
12 |
% |
|
|
(10 |
) |
|
$ |
3,750 |
|
|
$ |
- |
|
| March 23,2022 |
|
8 months |
|
$ |
56,500 |
|
|
$ |
56,500 |
|
|
$ |
6,500 |
|
|
|
12 |
% |
|
|
(12 |
) |
|
$ |
- |
|
|
$ |
- |
|
| March
29, 2022 |
|
8 months |
|
$ |
112,000 |
|
|
$ |
112,000 |
|
|
$ |
13,000 |
|
|
|
12 |
% |
|
|
(12 |
) |
|
$ |
- |
|
|
$ |
- |
|
| February 9,2022 |
|
12 months |
|
$ |
88,987 |
|
|
$ |
80,112 |
|
|
$ |
10,237 |
|
|
|
12 |
% |
|
|
(10 |
) |
|
$ |
- |
|
|
$ |
- |
|
| March
30, 2022 |
|
12 months |
|
$ |
10,000 |
|
|
$ |
10,000 |
|
|
$ |
- |
|
|
|
12 |
% |
|
|
2.50 |
|
|
$ |
- |
|
|
$ |
38,400 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
$ |
15,103,691 |
|
|
$ |
1,703,088 |
|
|
|
|
|
|
|
|
|
|
$ |
965,500 |
|
|
$ |
8,460,529 |
|
| |
(1) |
The
Note is past due. The Company and the lender are negotiating in good faith to extend the loan. |
| |
(2) |
The
Company and lenders have entered into Standstill and Forbearance Agreements (as described below). |
| |
(3) |
Note
is secured by the assets of the Company’s subsidiary, PBI Agrochem, Inc. and interest rate is 40.9%
OID. |
| |
(4) |
During
the year ended December 31, 2020, the Company entered into a Rate Modification Agreement with this lender. In this agreement
the lender agreed to reduce their interest rate and were granted the right to convert loans using a variable conversion price if
more than one other variable rate lender converted at a variable rate. |
| |
(5) |
The
Company has agreed to issue shares of its common stock to lenders if their notes are not repaid by a defined date. |
| |
(6) |
Loan
is not convertible until 180 days from the date of issuance of the Note and following an Event of Default will be convertible at
the lowest trading price of the 20 days prior to conversion. The loan is guaranteed by the Company’s Chief Executive
Officer, but the lender may only enforce this guarantee after certain conditions have been met, specifically after (i) the occurrence
of an Event of Default (as defined in the Note), (ii) the failure of the Company to cure the Default in 10 business days, and (iii)
a failure by the Company to issue, or cause to be issued, shares of its common stock upon submission by the lender of a notice of
conversion. |
| |
(7) |
Notes
are convertible before maturity at $2.50 per share or mandatorily convertible when the Company up-lists to the NASDAQ at the lower
of $2.50 or the up-list price. |
| |
(8) |
Notes
can be converted at the lesser of $2.50 per share or 25% discount to the opening price of the Company’s first day of trading
on either Nasdaq or NYSE. In addition, if the Company fails to pay the Note in cash on maturity date, the conversion price will be
adjusted to the lesser of original conversion price or the product of the VWAP of the common stock for the 5 trading dates immediately
prior to the maturity date multiplied by 0.75. |
| |
(9) |
Conversion
price of this note is $2.50 and will be adjusted to, upon an Event of Default, the lower of (i) the conversion price or (ii) a 25%
discount to the 5-day average VWAP of the stock prior to default. Additionally, if an up-list to a national exchange occurs while
this note is outstanding, the conversion price shall be changed to the lower of (i) the conversion price or (ii) a 25% discount to
the up-list price. |
| |
(10) |
Notes are convertible upon an Event of Default at 75%
multiplied by the lowest trading price for the common stock during the five days prior to the conversion. |
| |
(11) |
Loans
can be voluntarily converted before maturity at $2.50
per share. Lender retains the option
upon an Up-list to convert at the lower of $2.50
or the 10% off Up-list price.
|
| |
(12) |
Notes are convertible at $2.50 per share except that
following an Event of Default the conversion price will be adjusted to 75% multiplied by the lowest trading price for the common
stock during the five days prior to the conversion. |
| |
(13) |
During the three months ended March 31, 2022, the Company extended two
loans totaling $475,000 and increased the principal to $1,200,000. The Company issued 60,000 shares of common stock for these extensions
and added principal. |
| |
(14) |
During the three months ended
March 31, 2022, the Company extended five loans totaling $1,045,000 and increased the principal to 1,107,251
and issued 149,500
shares of common stock for the extensions. |
|