NOTE 3 - DEBT (Tables)
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3 Months Ended |
Mar. 31, 2017 |
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| Debt Disclosure [Abstract] |
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| 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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March 31, 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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15,117
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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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4,964
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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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127,620
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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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—
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9.24
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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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147,701
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$
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46,368
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| 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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March 31, 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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2,100
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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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8,608
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8
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%
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56,614
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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
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564,104
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577,716
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Less long-term portion-CEO
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45,968
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—
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Total
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$
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518,136
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$
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577,716
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| Notes Payable |
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March 31, 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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| Convertible Notes Payable-Net of Discounts, Including Premiums |
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March 31, 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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$
|
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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| Notes Payable - Third Party |
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March 31, 2017
|
|
|
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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$
|
527,536
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$
|
1,272,464
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|
|
$
|
1,800,000
|
|
|
$
|
593,478
|
|
|
$
|
1,206,522
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|
|
Note 2-current
|
|
|
1,552,632
|
|
|
|
772,984
|
|
|
|
779,648
|
|
|
|
605,263
|
|
|
|
559,661
|
|
|
|
45,602
|
|
|
Total
|
|
$
|
3,352,632
|
|
|
$
|
1,300,520
|
|
|
$
|
2,052,112
|
|
|
$
|
2,405,263
|
|
|
$
|
1,153,139
|
|
|
$
|
1,252,124
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|
|