NOTE 3 - DEBT (Tables)
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9 Months Ended |
Sep. 30, 2017 |
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| Debt Disclosure [Abstract] |
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| Schedule of Notes Payable - Financing Agreements |
The Company’s notes payable relating to financing agreements classified as current liabilities consist of the following as of:
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September 30, 2017
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December 31, 2016
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Notes Payable
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Principal
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Interest
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Principal
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Interest
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Third Party - Insurance Note 1
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$
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4,412
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10.30
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%
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$
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25,075
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9.75
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%
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Third Party - Insurance Note 2
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19,065
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10.00
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%
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9,861
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10.00
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%
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Third Party - Insurance Note 3
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52,105
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8.30
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%
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—
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8.05
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%
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Third Party - Insurance Note 4
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25,491
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9.95
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%
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11,432
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9.24
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%
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Total
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$
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101,073
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$
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46,368
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| Schedule of Notes Payable - Related Parties |
The Company’s notes payable to related parties classified as current liabilities consist of the following as of:
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September 30, 2017
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December 31, 2016
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Notes Payable
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Principal
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Interest
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Principal
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Interest
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Shareholder
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$
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65,000
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9
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%
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$
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65,000
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9
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%
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Related party
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13,369
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8
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%
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13,369
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8
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%
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Related party
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—
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—
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10,504
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—
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Related party
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56,500
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8
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%
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56,500
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8
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%
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Related Party
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—
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—
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3,170
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—
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Related Party
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8,431
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8
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%
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8,431
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8
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%
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CFO
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31,973
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8
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%
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31,973
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8
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%
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Shareholder
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226,936
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6
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%
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226,936
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6
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%
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CEO
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8,899
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8
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%
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8,383
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8
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%
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Shareholder
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105,219
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8
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%
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105,219
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8
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%
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Sub-total current portion
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516,327
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529,485
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Add long-term portion-CEO
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41,478
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48,231
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Total
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$
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557,805
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$
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577,716
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| Schedule of Notes Payable |
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September 30, 2017
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December 31, 2016
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Payable To
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Principal
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Interest
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Principal
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Interest
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Shareholder
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$
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19,108
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—
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$
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19,108
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—
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Vendor
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—
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—
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22,500
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—
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Total
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$
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19,108
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$
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41,608
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| Schedule of Convertible Notes Payable |
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September 30, 2017
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December 31, 2016
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Payable To
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Principal
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Premium
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Principal, Including Premium
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Principal
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Premium
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Principal, Including Premium
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Vendor
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$
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—
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$
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—
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$
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—
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$
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50,000
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$
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50,000
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$
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100,000
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Vendor
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—
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—
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—
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46,975
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46,975
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93,950
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Total
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$
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—
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$
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—
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$
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—
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$
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96,975
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$
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96,975
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$
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193,950
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| Schedule of Notes Payable - Third Party |
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September 30, 2017
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December 31, 2016
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Payable To
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Principal
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Less Unamortized Discounts
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Principal, Less Unamortized Discounts
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Principal
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Less Unamortized Discounts
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Principal, Less Unamortized Discounts
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Note 1-non-current
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$
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1,800,000
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$
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395,652
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$
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1,404,348
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$
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1,800,000
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$
|
593,478
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$
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1,206,522
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Note 2-current
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|
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2,105,263
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|
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—
|
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2,105,263
|
|
|
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605,263
|
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|
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559,661
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|
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45,602
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Total
|
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$
|
3,905,263
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|
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$
|
395,652
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$
|
3,509,611
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$
|
2,405,263
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|
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$
|
1,153,139
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$
|
1,252,124
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