| Notes payable of Modern Everyday, Inc. |
| Note payable
to individual, payable on demand, interest at 10.0% per annum, unsecured |
|
$ |
90,168 |
|
| Convertible note payable
to individual, due February 27, 2015, interest at 6.0% per annum, unsecured |
|
|
335,245 |
|
| Convertible note payable
to ICG, due January 23, 2015, interest at 8.0% per annum, unsecured |
|
|
527,889 |
|
| Acquisition note payable
(See Note 17), $200,000 due February 28, 2015 and $400,000 due February 28, 2016, non-interest bearing with interest imputed
at 2.87% per annum |
|
|
581,707 |
|
| Credit line due September
28, 2019, with interest rate at prime plus 2% |
|
|
240,204 |
|
| Less
Debt Discount |
|
|
(215,884 |
) |
| Total Debt |
|
|
1,559,329 |
|
| Current
portion |
|
|
920,360 |
|
| Long-term portion |
|
$ |
638,969 |
|
|