Quarterly report pursuant to Section 13 or 15(d)

NOTES PAYABLE

NOTES PAYABLE	6 Months Ended
Mar. 31, 2020
Debt Disclosure [Abstract]
NOTES PAYABLE	NOTE 4 - NOTES PAYABLE Notes payable to Stockholders As of March 31, 2020 and September 30, 2019, the Company had unsecured notes payable to stockholders totaling $78,159 and $92,869, respectively. These notes range in interest from 8% to 15% which are payable quarterly. One note with a principal balances of $17,588 is due on December 31, 2019. As of the date of this report, the note is currently in default. On September 30, 2019, the note holder converted $65,000 of note payable and $10,279 of accrued interest into an installment promissory note with a principal balance of $75,279. The note is due on September 30, 2021 and bears an interest rate of 8%. This note requires a monthly payment of $3,405 for the next 24 months. As of March 31, 2020 and September 30, 2019 the balance due was $60,571 and $75,279, respectively. Interest expense on the notes payable to stockholders was $2,936 and $3,922 for the three months ended March 31, 2020 and 2019, respectively, and $5,085 and $7,165 for the six months ended March 31, 2020 and 2019, respectively. Installment Loan Payable On December 14, 2018, VoiceInterop entered into a Business Loan Agreement with WebBank whereby VoiceInterop borrowed $59,751, of this amount $15,491 was recorded as debt issuance cost. The agreement calls for 308 installments of $194 paid over 432 days. The debt issuance cost is amortized over the life of the loan. As of March 31, 2020, the remaining loan balance of $18,429 was paid in full from the note payable dated October 8, 2019. On October 8, 2019, VoiceInterop entered into a Business Loan Agreement with WebBank whereby VoiceInterop borrowed $56,680, of this amount $13,080 was recorded as debt issuance cost. The debt issuance cost is amortized over the life of the loan. The agreement calls for 308 installments of $184 paid over 432 days. The Company used $18,429 of loan proceeds to pay off the remaining loan balance of WebBank loan dated December 14, 2018. As of February 14, 2020, the loan balance is $31,269, net of debt issuance cost of $10,688. The amount is included in VoiceInterop deconsolidation as of February 14, 2020 (See Note 8). Note Payable On December 2, 2019, the Company issued a promissory note in the amount of $50,000. The note bear 6% interest and matured on February 29, 2020. As of March 31, 2020 the loan balance of $50,000 and interest of $732 was paid in full. Loan Payable related party During the six months ended March 31, 2020, the Company owed $16,262 to two officers, of which $7,262 is included in liabilities from discontinued operations. The loan is non-interest bearing and payable on demand. As of March 31, 2020 the loan balance of $9,000 was paid in full and $7,626 included in labilities from discontinued operations was deconsolidated as of February 14, 2020. (See Note 6 and 8).

NOTES PAYABLE

6 Months Ended

Mar. 31, 2020

NOTE 4 - NOTES PAYABLE

Notes payable to Stockholders

As of March 31, 2020 and September 30, 2019, the Company had unsecured notes payable to stockholders totaling $78,159 and $92,869, respectively. These notes range in interest from 8% to 15% which are payable quarterly. One note with a principal balances of $17,588 is due on December 31, 2019. As of the date of this report, the note is currently in default.

On September 30, 2019, the note holder converted $65,000 of note payable and $10,279 of accrued interest into an installment promissory note with a principal balance of $75,279. The note is due on September 30, 2021 and bears an interest rate of 8%. This note requires a monthly payment of $3,405 for the next 24 months. As of March 31, 2020 and September 30, 2019 the balance due was $60,571 and $75,279, respectively.

Interest expense on the notes payable to stockholders was $2,936 and $3,922 for the three months ended March 31, 2020 and 2019, respectively, and $5,085 and $7,165 for the six months ended March 31, 2020 and 2019, respectively.

Installment Loan Payable

On December 14, 2018, VoiceInterop entered into a Business Loan Agreement with WebBank whereby VoiceInterop borrowed $59,751, of this amount $15,491 was recorded as debt issuance cost. The agreement calls for 308 installments of $194 paid over 432 days. The debt issuance cost is amortized over the life of the loan. As of March 31, 2020, the remaining loan balance of $18,429 was paid in full from the note payable dated October 8, 2019.

On October 8, 2019, VoiceInterop entered into a Business Loan Agreement with WebBank whereby VoiceInterop borrowed $56,680, of this amount $13,080 was recorded as debt issuance cost. The debt issuance cost is amortized over the life of the loan. The agreement calls for 308 installments of $184 paid over 432 days. The Company used $18,429 of loan proceeds to pay off the remaining loan balance of WebBank loan dated December 14, 2018. As of February 14, 2020, the loan balance is $31,269, net of debt issuance cost of $10,688. The amount is included in VoiceInterop deconsolidation as of February 14, 2020 (See Note 8).

Note Payable

On December 2, 2019, the Company issued a promissory note in the amount of $50,000. The note bear 6% interest and matured on February 29, 2020. As of March 31, 2020 the loan balance of $50,000 and interest of $732 was paid in full.

Loan Payable related party

During the six months ended March 31, 2020, the Company owed $16,262 to two officers, of which $7,262 is included in liabilities from discontinued operations. The loan is non-interest bearing and payable on demand. As of March 31, 2020 the loan balance of $9,000 was paid in full and $7,626 included in labilities from discontinued operations was deconsolidated as of February 14, 2020. (See Note 6 and 8).