Long-term debt
Due to Canadian Film Development Corp.
The loan payable, to a maximum amount of $160,725, is
non-interest bearing and is repayable in twelve monthly
instalments of $13,394 commencing September 30, 2001 $ 125,544
Due to Canadian Film Development Corp.
The loan payable, to a maximum amount of $75,000 is the earlier of the
first day of production work of a final version for marketing
purposes or the sale transfer or other disposition of the production.
As the date of repayment is not determinable,
the entire balance has been classified as long-term 70,000
Loan payable
These funds were received in exchange for a 5.0% equity position
in one of the Company's games. The value of this interest is
indeterminable at this time 11,515
Loan payable
Amount is non-interest bearing, with no fixed repayment terms. The
balance is not to be paid in the next twelve months and accordingly
has been classified as long-term 23,030
----------------------------------------------------------------------------------- ----------------
230,089
Less current portion (11,515)
----------------------------------------------------------------------------------- ----------------
$ 218,574
----------------------------------------------------------------------------------- ----------------
DESTINY SOFTWARE PRODUCTIONS INC.
Notes to Consolidated Financial Statements, ContinuedYear ended August 31, 1999
(Expressed in Canadian Dollars)
--------------------------------------------------------------------------------
6. Long-term debt, continued
Principal repayments over the next five years are as follows:
2000 $ 11,515
2001 70,000
2002 125,544
2003 -
2004 -
Thereafter 23,030
-------------------------------------------------------------
$ 230,089
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