Subsequent Events |
12 Months Ended |
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Dec. 31, 2020 | |
Subsequent Events [Abstract] | |
Subsequent Events |
NOTE 22 - SUBSEQUENT EVENTS
On January 19, 2021, the Company borrowed $150,000 under a long-term note. The note bears interest at an annual rate of 8% simple interest and matures on January 18, 2026. This note is included as part of a series of anticipated notes, all of which will be converted into common equity of Paragon Waste Services, LLC., in accordance with the note’s provisions.
On February 2, 2021, the Company borrowed $500,000 under a long-term note. The note bears interest at an annual rate of 8% simple interest and matures on February 3, 2026. This note is included as part of a series of anticipated notes, all of which will be converted into common equity of Paragon Waste Services, LLC., in accordance with the note’s provisions.
Under the Small Business Administration (“SBA”), the Company has applied for the PPP program, draw #2. During the first quarter of fiscal year 2021, we have been received $130,100 in loans for draw #2 through SEER and our subsidiaries. At the time of this filing, we do not anticipate having unqualified expenses which would not be forgiven. If we do have a portion of these loans not being forgiven, the unqualified portion is to be repaid over 2 years, accruing interest at 1% per annum. |
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- References No definition available.
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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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