Quarterly report pursuant to Section 13 or 15(d)

CONVERTIBLE NOTES PAYABLE - RELATED PARTIES (Tables)

v3.19.1
CONVERTIBLE NOTES PAYABLE - RELATED PARTIES (Tables)
6 Months Ended
Mar. 31, 2019
CONVERTIBLE NOTES PAYABLE - RELATED PARTIES [Abstract]  
Convertible Notes Payable to Related Parties
Convertible notes payable to related parties are as follow at March 31, 2019 and 2018, respectively:

   
Mar. 31,
2019
   
Sept. 30,
2018
 
             
Convertible note payable to brother of former CEO, including interest at 10%, due December 31, 2016, convertible at $1.47 per share.  This note is in default as of March 31, 2019 and continues to accrue interest at 10%.
 
$
50,000
   
$
50,000
 
                 
Convertible note payable to former CEO, including interest at 10%, due December 31, 2017, convertible at $1.47 per share, currently in default.  The Company paid $41,909 towards this note in June 2018 and $16,500 towards principal ($8,091) and interest ($8,409) during the six months ended March 31, 2019.
   
-
     
8,091
 
                 
Convertible notes payable, with a shareholder, dated May 5, 2017, including interest at 10%, due May 5, 2018, convertible into shares of the Company’s common stock at $0.0681 per share.  This note is currently in default.
   
5,000
     
5,000
 
                 
Convertible notes payable, with a shareholder as part of the purchase price of Shift Now, Inc., dated August 10, 2018, including interest at 5%, convertible into shares of the Company’s common stock at $0.075 per share on August 10, 2019. 50% of the principal and interest are due on August 19, 2019, with the balance due August 19, 2020.
   
30,000
     
30,000
 
     
85,000
     
93,091
 
Accrued interest
   
29,062
     
33,655
 
     
114,062
     
126,746
 
Less current portion
   
(99,062
)
   
(111,746
)
Long-term convertible notes payable, related parties
 
$
15,000
   
$
15,000