Annual report pursuant to Section 13 and 15(d)

NOTE 6 - DEBT (Tables)

v3.8.0.1
NOTE 6 - DEBT (Tables)
12 Months Ended
Dec. 31, 2017
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, 2017 and 2016: 


 

 

December 31, 2017

 

December 31, 2016

 

Notes Payable

 

Principal

 

 

 

Interest

 

Principal

 

 

 

Interest

 

Third Party - Insurance Note 1

 

$

25,075

 

 

 

10.30

%

 

$

25,075

 

 

 

9.75

%

 

Third Party - Insurance Note 2

 

 

11,679

 

 

 

10.00

%

 

 

9,861

 

 

 

10.00

%

 

Third Party - Insurance Note 3

 

 

 

 

 

8.05

%

 

 

 

 

 

8.05

%

 

Third Party - Insurance Note 4

 

 

12,903

 

 

 

9.24

%

 

 

11,432

 

 

 

9.24

%

 

Total

 

$

49,657

 

 

 

 

 

 

$

46,368

 

 

 

 

 

 

Notes Payable - Related Parties

The Company’s notes payable to related parties classified as current liabilities consist of the following as of December 31, 2017 and 2016:


 

 

December 31, 2017

 

 

December 31, 2016

 

Notes Payable

 

Principal

 

 

Interest

 

 

Principal

 

 

Interest

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Shareholder

 

$

 

 

9

%

 

$

65,000

 

 

9

%

Related party

 

 

 

 

8

%

 

 

13,369

 

 

8

%

Related party

 

 

 

 

 

 

 

10,504

 

 

 

Related party

 

 

 

 

8

%

 

 

56,500

 

 

8

%

Related Party

 

 

 

 

 

 

 

3,170

 

 

 

Related Party

 

 

 

 

8

%

 

 

8,431

 

 

8

%

CFO

 

 

 

 

8

%

 

 

31,973

 

 

 

Shareholder

 

 

 

 

6

%

 

 

226,936

 

 

6

%

CEO

 

 

9,078

 

 

8

%

 

 

8,383

 

 

 

Shareholder

 

 

 

 

8

%

 

 

105,219

 

 

 

Sub-total current portion

 

 

9,078

 

 

 

 

 

 

529,485

 

 

 

 

Add long-term portion-CEO

 

 

39,137

 

 

 

 

 

 

48,231

 

 

 

 

Total

 

$

48,215

 

 

 

 

 

$

577,716

 

 

 

 

Notes Payable


Notes Payable


 

 

 

 

 

 

 

 

December 31, 2017

 

 

December 31, 2016

 

Payable To

 

 

 

 

 

 

 

Principal

 

 

Interest

 

 

Principal

 

 

Interest

 

Shareholder

 

 

 

 

 

 

 

 

 

$

 

 

 

 

 

$

19,108

 

 

 

 

Vendor

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

22,500

 

 

 

 

Total

 

 

 

 

 

 

 

 

 

$

 

 

 

 

 

 

$

41,608

 

 

 

 

 

Convertible Notes Payable-Net of Discounts, Including Premiums

Convertible Notes, Including Premiums

 

 

 

December 31, 2017

 

 

December 31, 2016

 

Payable To

 

Principal

 

 

Premium

 

 

Principal, Including Premium

 

 

Principal

 

 

Premium

 

 

Principal, Including Premium

 

Vendor

 

$

 

 

$

 

 

$

 

 

$

50,000

 

 

$

50,000

 

 

$

100,000

 

Vendor

 

 

 

 

 

 

 

 

 

 

 

46,975

 

 

 

46,975

 

 

 

93,950

 

Total

 

$

 

 

$

 

 

$

 

 

$

96,975

 

 

$

96,975

 

 

$

193,950

 

Notes Payable - Third Parties

Notes Payable – Third Parties


 

 

December 31, 2017

 

 

December 31, 2016

 

Payable To

 

Principal

 

 

Less Unamortized Discounts

 

 

Principal, Less Unamortized Discounts

 

 

Principal

 

 

Less Unamortized Discounts

 

 

Principal, Less Unamortized Discounts

 

Note 1-non-current

 

$

 

 

$

 

 

$

 

 

$

1,800,000

 

 

$

593,478

 

 

$

1,206,522

 

Note 2-current

 

 

 

 

 

 

 

 

 

 

 

605,263

 

 

 

559,661

 

 

 

45,602

 

Total

 

$

 

 

$

 

 

$

 

 

$

2,405,263

 

 

$

1,153,139

 

 

$

1,252,124