Post-effective amendment to a registration statement that is not immediately effective upon filing

NOTE 7 - DEBT (Tables)

v3.19.1
NOTE 7 - DEBT (Tables)
12 Months Ended
Dec. 31, 2018
Debt Disclosure [Abstract]  
Notes Payable - Financing Agreements

The Company’s notes payable relating to financing agreements classified as current liabilities consist of the following as of December 31, 2018 and 2017: 


 

 

December 31, 2018

 

December 31, 2017

 

Notes Payable

 

Principal

 

 

 

Interest

 

Principal

 

 

 

Interest

 

Third Party - Insurance Note 1

 

$

25,066

 

 

 

9.29

%

 

$

25,075

 

 

 

10.30

%

 

Third Party - Insurance Note 2

 

 

8,501

 

 

 

10.75

%

 

 

11,679

 

 

 

10.00

%

 

Third Party - Insurance Note 3

 

 

14,763

 

 

 

10.25

%

 

 

12,903

 

 

 

9.24

%

 

Total

 

$

48,330

 

 

 

 

 

 

$

49,657

Notes Payable - Related Parties

The Company’s notes payable to related parties classified as current liabilities consist of the following as of December 31, 2018 and 2017:


 

 

December 31, 2018

 

December 31, 2017

 

Notes Payable

 

Principal

 

 

 

Interest

 

Principal

 

 

 

Interest

 

CEO

 

$

—

 

 

 

 

 

 

$

9,078

 

 

 

8

%

 

Sub-total current portion

 

 

—

 

 

 

 

 

 

 

9,078

 

 

 

 

 

 

Add long-term portion-CEO

 

 

—

 

 

 

 

 

 

 

39,137

 

 

 

 

 

 

Total

 

$

—

 

 

 

 

 

 

$

48,215