Quarterly report pursuant to Section 13 or 15(d)

Notes Payable and Long Term Loan (Tables)

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Notes Payable and Long Term Loan (Tables)
6 Months Ended
Jun. 30, 2017
Schedule of Note Payables

As of June 30, 2017, other notes payable outstanding totaled $1,144,903, all of which are past maturity.

  

    June 30, 2017     December 31, 2016  
             
Notes payable at beginning of period   $ 3,193,956     $ 2,333,751  
Notes payable issued     928,750       1,776,895  
Default interest added to note payable     -       62,500  
Accrued interest payable added to note payable     33,028       -  
Settlements on note payable     -       (55,000 )
Repayments of notes payable in cash     (30,000 )     (241,500 )
Less amounts converted to stock     (830,553 )     (682,690 )
Notes payable at end of period     3,295,181       3,193,956  
Less debt discount     (925,970 )     (1,145,849 )
    $ 2,369,211     $ 2,048,107  
                 
Notes payable issued to related parties   $ 170,000     $ 170,000  
Notes payable issued to non-related parties   $ 2,199,211     $ 1,878,107  

Schedule of Maturity Dates of Notes Payable and Loan

The maturity dates on the notes payable are as follows:

 

    Notes to        
12 months ending,   Related parties     Non-related parties     Total  
                   
June 30, 2018   $ 170,000     $ 3,125,181     $ 3,295,181  
    $ 170,000     $ 3,125,181     $ 3,295,181  

Long-term Debt [Member]  
Schedule of Maturity Dates of Notes Payable and Loan

The Company has financed the purchase of an automobile. The maturity dates on the loan are as follows:

 

Twelve months ending,      
June 30, 2018   $ 10,465  
    $ 10,465  
         
Current portion   $ 10,465  
Long term portion   $ -