PROMISSORY NOTES

6 Months Ended

Jun. 30, 2025

NOTE 5 – PROMISSORY NOTES

Promissory notes consisted of the following at June 30, 2025, and December 31, 2024:

SCHEDULE OF PROMISSORY NOTES

	June 30, 2025			December 31, 2024

Cash Call note payable, due September 30, 2025	$	24,785		$	24,785
Cash Call note payable, due September 30, 2025	$	24,785		$	24,785
Elder note payable, 10% interest, due September 30, 2025		1,500			1,500
Elder note Payable, 15% interest, due September 30, 2025		76,477			76,477
Griffith note Payable, 15% interest, due September 30, 2025		250,000			250,000
Banker note Payable, 15% interest, due September 30, 2025		42,500			42,500
Robles note Payable, 10% interest, due September 30, 2025		37,500			37,500
		-			-
Total Promissory notes payable	$	432,762		$	432,762
Less discounts		-			-

Total Promissory notes, net of discount		432,762			432,762

Less current portion		(432,762	)		(432,762	)

Total Promissory notes, net of discount - long term	$	-		$	-

Cash Call, Inc.

On March 19, 2018, the Company issued a promissory note to CashCall, Inc. for $75,000 of cash consideration. The note bears interest at 94%. The Company also recorded a $7,500 debt discount due to origination fees due at the beginning of the note, which was fully amortized as of December 31, 2023. There was no activity during the six months ended June 30, 2025.

On August 2, 2022, the Company and Cash Call settled for an aggregate principal of $23,641 payable in one lump sum or a series of 9 installments of $3,152. No payment was made under this settlement agreement during the six months ended June 30, 2025.

As of June 30, 2025, and December 31, 2024, the remaining principal balance was $24,785. The Company has not incurred any interest expense related to this promissory note during the six months ended June 30, 2025, due to the agreed upon settlement amount.

Christopher Elder

On December 15, 2020, the Company entered into a promissory note pursuant to which the Company borrowed $126,477. Interest under the promissory note in default is 18%, and the principal and all accrued but unpaid interest is due upon maturity.

There was no activity during the six months ended June 30, 2025. As of both June 30, 2025, and December 31, 2024, the remaining principal balance was $76,477.

Accrued interest was $46,443 as of June 30, 2025, and December 31, 2024.

Bobbie Allen Griffith

On September 5, 2023, the Company entered into a promissory note pursuant to which the Company borrowed $215,000. Interest under the promissory note is 15% per annum, and the principal and all accrued but unpaid interest is due upon maturity.

The Company repaid the note in full during the year ended December 31, 2023. During the year ended December 31, 2023, the Company was advanced an additional $250,000. As of June 30, 2025, and December 31, 2024, the remaining principal balance was $250,000.

George Banker

On August 11, 2023, the Company entered into a promissory note pursuant to which the Company borrowed $150,000. Interest under the promissory note is 15% per annum, and the principal and all accrued but unpaid interest was due on October 11, 2023. The note is in technical default as it is past maturity date, and the Company failed to repay the outstanding principal and accrued interest.

Accrued interest was $45,000 as of June 30, 2025, and December 31, 2024. As of June 30, 2025, and December 31, 2024, the remaining principal balance was $42,500.

The Company initially recognized a debt discount and stock payable on this note of $5,769, which was fully amortized as of December 31, 2023.

George Robles

On September 1, 2023, the Company entered into a promissory note pursuant to which the Company borrowed $100,000. Interest under the promissory note is 5% per month with a default rate of 10% per month, and the principal and all accrued but unpaid interest is due upon maturity.

Accrued interest was $15,000 as of June 30, 2025, and December 31, 2024. As of June 30, 2025, and December 31, 2024, the remaining principal balance was $37,500.

The Company initially recognized a debt discount and stock payable on this note of $5,393, which was fully amortized as of December 31, 2023.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

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+ Details

International Land Alliance Inc. 10-Q