Notes Payable

9 Months Ended

Sep. 30, 2017

During the year ended December 31, 2013, the Company entered a loan agreement with a non-related third party for $32,651. The loan is unsecured, non-interest bearing and due on demand. During the year ended December 31, 2016, the Company made payments of $6,500 (2015 - $0), and no payments were made during the nine month ended September 30, 2017. As of December 31, 2016 and September 30, 2017, the Company owed $15,651.

On May 23, 2017, the Company entered into a loan agreement and received $30,000. The Company agreed to repay a total of $35,000 on July 3, 2017. The Company recorded an original issue discount of $5,000 and is amortizing over the term of the note. As of September 30, 2017 the Company amortized debt discount of $5,000.

In July The Company entered a loan agreement with a non-related third party for $113,500. The loan is unsecure and payable over 11 months. The Company has agreed to repay a total of $110,662.50. Payments are due daily in the amount of $651.93. As of September 30, 2017 the Company owed $93,470.

In August The Company entered a loan agreement with a non-related third party for $47,000. The loan is unsecure and payable over 6 months. The Company has agreed to repay a total of $52,875. Payments are due monthly. For months 1-2 The Company has agreed to make monthly payments of $9,830.84 and in month’s 3-6 payments of $8,303.34. As of September 30, 2017 the Company owed $38,869.

Dynamic Enviro Inc. 10-Q