WiseTrader
3 years ago
NOTES PAYABLE
The $10,000 convertible promissory note payable to a company whose shareholders hold less than 10% in TransAct is unsecured, bears interest at 10% per annum and was due and payable on March 31, 2010. The payee had the option to convert the entire principal amount on or before April 29, 2009 into common shares of the Company based on a conversion rate of $.00345 per share. No interest was payable if the principal was converted to shares of the Company. The payee did not exercise its conversion option. The note is currently outstanding and in October 2010 the Company issued a check in the amount of $11,876 as payment in full of principal and interest which was returned un-cashed by the payee. On September 30, 2021, accrued interest was $12,938.
The $17,500 promissory note payable to a company whose shareholders hold less than 10% in TransAct is unsecured, bears interest at 10% per annum and is due on demand. This note is currently in default. On September 30, 2021, accrued interest was $21,890.
The $25,000 and $15,243.90 ($20,000 CAD) promissory notes payable dated April 22, 2011 and March 31, 2011 respectively are unsecured and bear interest at 60% per annum or $2,500 and $1,445 ($2,000 CAD) respectively whichever is greater. The notes are due on demand and may be prepaid in whole or part without penalty. Accrued interest was $252,444 on September 30, 2021.
The $ 3,811 ($5,000 CAD) promissory note payable dated September 12, 2011 is unsecured and bears interest at $361 up to September 16, 2011 and $36 per diem until all principal and interest is repaid. The note is due on demand and may be prepaid in whole or part without penalty. Accrued interest was $135,521 on September 30, 2021.
The $100,000 promissory note payable dated September 30, 2013 is unsecured and is non-interest bearing.
A $22,030 promissory note payable dated February 24, 2011 to a former officer bears interest of $6,000 and was due on March 4, 2011. This note is accruing interest at $360 per day for every day after March 4, 2011 until the note is repaid in full. On September 30, 2021, accrued interest was $1,397,273.
A $46,660 promissory note payable dated April 22, 2011 to a former officer (more than 1 year ago) bears interest at 1% per diem. A beneficial conversion feature of $2,750 was recorded as a discount to the notes with the offset to Additional Paid in Capital. In May 2011 the holder of the note converted $10,000 of principal into 750,000 shares of common stock and the discount was expensed to interest. The remaining balance of $36,660 is due on demand. On September 30, 2021 accrued interest was $1,407,254.
A $3,000 convertible promissory note payable to a former officer is secured by certain assets and equipment of the Company and bore interest at 8% per annum through the due date in November 2010 and is currently in default and bearing interest at 60%. A beneficial conversion feature of $3,000 has been recorded as a discount to the note with an offset to additional paid in capital. The discount was fully amortized in 2010. On September 30, 2021, accrued interest was $20,760.
A $9,980 short-term loan dated January 23, 2018 is unsecured and bears fixed interest of $3000 and was due March 5th, 2018.This note is currently in default. Interest at the option of the Lender may be paid in stock at a 75% discount to market. On September 30, 2021, we accrued interest of $94,362.
A $4,980 short-term loan dated February 26, 2018 is unsecured and bears fixed interest of $1500 and was due in March 2018.This note is currently in default. Interest at the option of the Lender may be paid in stock at a 75% discount to market. On September 30, 2021 we accrued $47,179 in interest.
A $4,980 short-term loan dated May 29, 2018 is unsecured and bears interest of $35.71 per day and was due in June 30, 2018.This note is currently in default. On September 30, 2021, we accrued $43,571 in interest.
11
TRANSACT ENERGY CORP.
(A Development Stage Company)
NOTES TO FINANCIAL STATEMENTS
(Unaudited - Prepared by Management)
September 30, 2021
A $60,000 short-term loan dated June 6, 2018 is unsecured and bears interest of $3,000 per day. On September 30, 2021 we accrued $3,636,000 in interest.
A $3,980 short-term loan dated July 25, 2018 is unsecured and bears interest of $28.49 per day and was due in Aug 31, 2018.This note is currently in default. On September 30, 2021, we accrued $33,134 in interest.
A $5,000 short-term loan dated January 25, 2019 is unsecured and bears interest of $28.49 per day and was due February 25, 2019.This note is currently in default. On September 30, 2021, we accrued $34,964 in interest.
A $5,000 short-term loan dated February 28, 2019 is unsecured and bears interest of $28.49 per day and was due March 23, 2019.This note is currently in default. On September 30, 2021, we accrued $33,750 in interest.
A $10,000 short-term loan dated April 26, 2019 is unsecured and bears interest of 71.4257 per day. This note is currently in default. On September 30, 2021, we accrued $63,434 in interest.
A $15,000 convertible note dated May 9, 2019 is unsecured and bears interest of 12% per annum. The note was due May 5, 2020 unless converted to common stock. On Feb 4, 2021, the note and accrued $2,969 in interest were converted to restricted common stock. (note 6)
A $10,000 convertible note dated July 25, 2019 is unsecured and bears interest of 12% per annum. The note was due July 24, 2020 unless converted to common stock. On Feb 4, 2021, the note and accrued $1,726 in interest were converted to restricted common stock. (note 6)
A $5,000 short-term loan dated August 26, 2019 is unsecured and bears interest of 35.7143 per day. This note is currently in default. On September 30, 2021, we accrued $27,357 in interest.
A $4,995 short-term loan dated November 21, 2019 is unsecured and bears interest of 35.7143 per day August 26, 2019. This note is currently in default. On September 30, 2021, we accrued $24,250 in interest.
A $4,995 short-term loan dated December 20, 2019 is unsecured and bears interest of 35.7143 per day. On September 30, 2021, we accrued $23,214 in interest.
A $3,980 short-term loan dated March 20, 2020 is unsecured and bears interest of 28.57144 per day. On September 30, 2021, we accrued $15,971 in interest.
A $2,500 convertible note dated April 22, 2020 is unsecured and bears interest of 12% per annum. The note is due April 21, 2021 unless converted to common stock. On Feb 4, 2021, the note and accrued $208 in interest were converted to restricted common stock. (note 6)
A $5,000 convertible note dated December 1, 2020 is unsecured and bears interest of 12% per annum. The note is due November 01, 2021 unless converted to common stock. On September 30, 2021, we had accrued $498.09 in interest.
A $15,000 convertible note date February 5th, 2021 is unsecured and bears interest of 12% per annum. The note is due February 3rd, 2022 unless converted to common stock. On February 8th, 2021, the note was converted (note 6).
A $5,000 convertible note dated June 4, 2021, is unsecured and bears interest of 12% per annum. The note is due June 3, 2022, unless converted to common stock. On September 30, 2021, we had accrued $194 in interest.
A $5,000 convertible note dated August 24, 2021, is unsecured and bears interest of 12% per annum. The note is due August 23, 2022, unless converted to common stock. On September 30, 2021, we had accrued $59 in interest.
12
rhumphre1
13 years ago
Here is 10 reasons as to what is going on.....want another 10?
Stocks Promoted : 20 Total Displaying top 10 25 50 Viewing 1-10 | Next 10
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Company: Transact Energy Corp. ( TEGY )
End of Day: Close: 0.061 Volume: 12,865
Change: -0.001 % Change: -1.613
3 Month : High/Low: 0.17 / 0.007 Volume 3m : 465,387
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Promoter: Top Gun Stock Picks
Compensation:
We have not been compensated for TEGY and we own no position. We have not been compensated in any way for THE mention of any other companies named in this communication, and we own no position in any of them.
Date: 3/22/2012
Company: Transact Energy Corp. ( TEGY )
End of Day: Close: 0.061 Volume: 12,865
Change: -0.001 % Change: -1.613
3 Month : High/Low: 0.17 / 0.007 Volume 3m : 465,387
--------------------------------------------------------------------------------
Promoter: The Stock Psycho
Compensation:
We have not been compensated for TEGY and we own no position. We have not been compensated in any way for THE mention of any other companies named in this communication, and we own no position in any of them.
Date: 3/22/2012
Company: Transact Energy Corp. ( TEGY )
End of Day: Close: 0.062 Volume: 93,004
Change: 0.002 % Change: 3.333
3 Month : High/Low: 0.17 / 0.007 Volume 3m : 465,702
--------------------------------------------------------------------------------
Promoter: Top Gun Stock Picks
Compensation:
We have not been compensated for TEGY and we own no position. We have not been compensated for THE release of this specific communication (email, text, social media, blog posting), but any future communications pertaining to a specific company will be THE result of a paid promotional investor relations marketing campaign, for which IPR Agency LLC receives financial compensation. We have not been compensated in any way for THE mention of any other companies named in this communication, and we own no position in any of them.
Date: 3/21/2012
Company: Transact Energy Corp. ( TEGY )
End of Day: Close: 0.062 Volume: 93,004
Change: 0.002 % Change: 3.333
3 Month : High/Low: 0.17 / 0.007 Volume 3m : 465,702
--------------------------------------------------------------------------------
Promoter: The Stock Psycho
Compensation:
We have not been compensated for TEGY and we own no position. We have not been compensated for the release of this specific communication (email, text, social media, blog posting), but any future communications pertaining to a specific company will be the result of a paid promotional investor relations marketing campaign, for which IPR Agency LLC receives financial compensation. We have not been compensated in any way for the mention of any other companies named in this communication, and we own no position in any of them.
Date: 3/21/2012
Company: Transact Energy Corp. ( TEGY )
End of Day: Close: 0.07 Volume: 395,584
Change: -0.03 % Change: -30
3 Month : High/Low: 0.17 / 0.007 Volume 3m : 546,912
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Promoter: The Stock Psycho
Compensation:
We have not been compensated for TEGY and we own no position. We have not been compensated in any way for the mention of any other companies named in this communication, and we own no position in any of them.
Date: 3/14/2012
Company: Transact Energy Corp. ( TEGY )
End of Day: Close: 0.07 Volume: 395,584
Change: -0.03 % Change: -30
3 Month : High/Low: 0.17 / 0.007 Volume 3m : 546,912
--------------------------------------------------------------------------------
Promoter: Top Gun Stock Picks
Compensation:
We have not been compensated for TEGY and we own no position. We have not been compensated in any way for the mention of any other companies named in this communication, and we own no position in any of them.
Date: 3/14/2012
Company: Transact Energy Corp. ( TEGY )
End of Day: Close: 0.135 Volume: 960,462
Change: -0.035 % Change: -20.588
3 Month : High/Low: 0.17 / 0.007 Volume 3m : 556,650
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Promoter: The Stock Psycho
Compensation:
We have not been compensated to alert TEGY and own no position. We have not been compensated for this communication, but future communications regarding particular companies are, in great majority, purely financially compensated advertising. We have not been compensated in any way for the mention of any other companies named in this communication, and we own no position in any of them.
Date: 3/12/2012
Company: Transact Energy Corp. ( TEGY )
End of Day: Close: 0.135 Volume: 960,462
Change: -0.035 % Change: -20.588
3 Month : High/Low: 0.17 / 0.007 Volume 3m : 556,650
--------------------------------------------------------------------------------
Promoter: Top Gun Stock Picks
Compensation:
We have not been compensated to alert TEGY and own no position. We have not been compensated for this communication, but future communications regarding particular companies are, in great majority, purely financially compensated advertising. We have not been compensated in any way for the mention of any other companies named in this communication, and we own no position in any of them.
Date: 3/12/2012
Company: Transact Energy Corp. ( TEGY )
End of Day: Close: 0.17 Volume: 2,093,950
Change: 0.07 % Change: 70
3 Month : High/Low: 0.17 / 0.006 Volume 3m : 506,086
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Promoter: Penny Stock General
Compensation:
None Listed
Date: 3/9/2012
Company: Transact Energy Corp. ( TEGY )
End of Day: Close: 0.17 Volume: 2,093,950
Change: 0.07 % Change: 70
3 Month : High/Low: 0.17 / 0.006 Volume 3m : 506,086
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Promoter: Fast Money Alerts
Compensation:
None Listed
Date: 3/9/2012