Notes Payable

12 Months Ended

Apr. 30, 2019

Note 7 Notes Payable

The Company entered into 11 unsecured notes payable. They are all due within 30 days following written demand and bears a monthly interest rate of 1% (12% per annum). The Company partially repaid one note and accrued interest totaling $2,000 on March 1, 2018. The following were the principal loan amounts and accrued interests remaining as at April 30, 2019 and April 30, 2018:

	April 30 2019							April 30, 2018
	Principal		Interest					Principal		Interest
	Amount		Accrued		Total			Amount		Accrued		Total
Dec 31 12		17,000		12,920		29,920	Dec 31 12		17,000		10,880		27,880
Aug 13 13		20,000		13,700		33,700	Aug 13 13		20,000		11,300		31,300
Dec 04 14		11,000		5,818		16,818	Dec 04 14		11,000		4,498		15,498
Jun 26 15		10,000		4,617		14,617	Jun 26 15		10,000		3,417		13,417
Jan 25 16		3,671		477		4,148	Jan 25 16		3,671		36		3,707
Mar 22 16		17,725		6,647		24,372	Mar 22 16		17,725		4,520		22,245
Jul 28 16		2,700		891		3,591	Jul 28 16		2,700		567		3,267
Oct 31 16		5,161		1,548		6,709	Oct 31 16		5,161		929		6,090
Jan 31 17		3,902		1,054		4,956	Jan 31 17		3,902		585		4,487
Apr 28 17		3,180		763		3,943	Apr 28 17		3,180		382		3,562
Jun 03 17		6,961		1,601		8,562	Jun 03 17		6,961		766		7,726

	$	101,300	$	50,036	$	151,336		$	101,300	$	37,880	$	139,180

The Company entered into one unsecured note payable that is due November 1, 2019 with an interest rate of 12% per annum. The following was the principal amount and the accrued interest at April 30, 2019:

		Amount				Interest				Total
Nov 01 18		$	12,500			$	744			$	13,244

The Company entered into one unsecured note payable that is due on December 7, 2019 with an interest rate of 3% per annum. The following was the principal amount and the accrued interest at April 30, 2019.

		Amount				Interest				Total
Dec 12 18		$	39,000			$	449			$	39,449

The Company entered into one unsecured note payable that is due on April 11, 2020 with an interest rate of 12% per annum. The accrued interest will commence May 1, 2019. The following was the principal amount and the accrued interest at April 30, 2019:

		Amount				Interest				Total
Apr 11 19		$	23,250			$	-			$	23,250

The Company entered into one unsecured convertible note payable on December 4, 2017. The note is due within 30 days following written demand and bears a monthly interest rate of 1% (12% per annum). At any time prior to repayment, the holder may convert all or part of the principal loan into common stock of the Company at a conversion price of $1.00 of debt to 1 common share. The effect that conversion would have on earnings per share has not been disclosed due to the current anti-dilutive effect. The conversion rate of $1.00 creates a zero conversion benefit at current stock prices at that time. Therefore, no beneficial conversion feature has been recorded.

	April 30, 2019							April 30, 2018
	Principal		Interest					Principal		Interest
	Amount		Accrued		Total			Amount		Accrued		Total
Dec 04 17	$	50,000	$	8,500	$	58,500	Dec 04 17	$	50,000	$	2,500	$	52,500

BLUE EAGLE LITHIUM INC. 10-K