Quarterly report pursuant to Section 13 or 15(d)

NOTE 3 - DEBT (Tables)

v3.5.0.2
NOTE 3 - DEBT (Tables)
6 Months Ended
Jun. 30, 2016
Debt Disclosure [Abstract]  
Notes Payable - Financing Agreements
                                   
    June 30, 2016   December 31, 2015  
Payable To   Principal       Interest   Principal       Interest  
Third Party - Insurance Note 1   $ 8,737       9.75 %   $ 21,325       9.75 %  
Third Party - Insurance Note 2     1,491       9.75 %     11,277       9.75 %  
Third Party - Insurance Note 3     75,132       8.05 %     —       —    
Third Party - Insurance Note 4     44,693       9.24 %     11,422       8.99 %  
Total   $ 130,053             $ 44,024            
Notes Payable - Related Parties

    June 30, 2016     December 31, 2015  
Payable To   Principal     Interest*     Principal     Interest*  
                         
Related party   $ 65,000       .75 %   $ 65,000       .75 %
Related party     13,369       .67 %     17,651       .67 %
Related party     21,010       —       33,615       —  
Related party     56,500       .67 %     36,500       .67 %
Related party     12,170       —       21,170       —  
Related party     8,431       .67 %     11,131       .67 %
CFO     31,973       .67 %      7,841       —  
Related party     241,346       .50 %     294,056       .50 %
Total   $ 449,799             $ 486,964          

 

Notes Payable
                                                 
                June 30, 2016     December 31, 2015  
Payable To               Principal     Interest*     Principal     Interest*  
                                                 
Shareholder                   $ 19,108       —     $ 19,108       —  
Shareholder                     —       —       125,000       .67%  
Vendor                     37,500       —       52,500       —  
Total                   $ 56,608             $ 196,608          

 

* effective interest rate per month including default penalties

Convertible Notes Payable-Net of Discounts, Including Premiums
    June 30, 2016     December 31, 2015  
Payable To   Principal     Premium     Principal, Including Premium     Principal     Premium     Principal, Including Premium  
Vendor     50,000       50,000       100,000       50,000       50,000       100,000  
Vendor     46,975       46,975       93,950       46,975       46,975       93,950  
Total   $ 96,975     $ 96,975     $ 193,950     $ 96,975     $ 96,975     $ 193,950  
Notes Payable - Third Party
                                                 
                June 30, 2016     December 31, 2015  
Payable To               Principal     Interest     Principal     Interest  
                                                 
Note payable                   $ 1,800,000       14% + 2%     $ —       —  
Less unamortized discounts                     725,361               —          
Note payable, net                   $ 1,074,639             $ —