| Notes payable of Modern Everyday, Inc. |
| |
|
March 31, |
|
|
September 30, |
|
| |
|
2015 |
|
|
2014 |
|
| Note payable to individual, payable on demand, interest at 10.0% per annum, unsecured |
|
$ |
91,336 |
|
|
$ |
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, $200,000 due February 28, 2015 and $400,000 due February 28, 2016, non-interest bearing with interest imputed at 2.87% per annum |
|
|
389,626 |
|
|
|
581,707 |
|
| Credit line due 1/1/2024, with interest rate of 2.75% |
|
|
229,299 |
|
|
|
240,204 |
|
| Less Debt Discount |
|
|
– |
|
|
|
(215,884 |
) |
| Total Debt |
|
|
710,261 |
|
|
|
1,559,329 |
|
| Current portion |
|
|
480,962 |
|
|
|
920,360 |
|
| Long-term portion |
|
$ |
229,299 |
|
|
$ |
638,969 |
|
|