CONVERTIBLE NOTES (Table)

12 Months Ended

Dec. 31, 2013

As of November 2, 2013 the notes have all matured and the Company has attempted to repay the noteholders, however such attempts have been unsuccessful as the Company has been unable to locate the noteholders at the addresses provided, nor find them in an internet search. The Company has continued to accrue interest while it seeks an appropriate resolution.

Summary of convertible notes as at December 31, 2013
Date of Loan	Date of maturity		Annual interest rate	Conversion terms	Balance start of year	Issued in year	Converted in year	Repaid in year	Balance end of year
July 7, 2010	July 7, 2011	*	8.0%	75% of the avg of closing price in 30 trading days preceding conversion	$ 50,000				$ 50,000
July 9, 2010	April 9, 2011	*	60.0%	Convertible into 65,000 shares at $0.50 p/s for principal & Int if not paid when due	$ 25,000				$ 25,000
November 2, 2011	November 2, 2013		6.0%	85% of the avg of closing price in 30 trading days preceding conversion, but not less than $0.06	$ 45,000				$ 45,000
November 3, 2011	November 2, 2013		6.0%	85% of the avg of closing price in 30 trading days preceding conversion, but not less than $0.06	$ 62,580				$ 62,580

* Note rolled over on month to month terms.					$ 182,580	$ -	$ -	$ -	$ 182,580

POWRTEC CORP 10-K