Annual report pursuant to Section 13 and 15(d)

Notes Payable and Long Term Loan (Tables)

v3.8.0.1
Notes Payable and Long Term Loan (Tables)
12 Months Ended
Dec. 31, 2017
Schedule of Note Payables

    As of  December 31,  
    2017     2016  
             
Notes payable at beginning of period   $ 3,193,956     $ 2,333,751  
Notes payable issued     5,837,070       1,776,895  
Default interest added to note payable     -       62,500  
Settlements on note payable     (95,597 )     (55,000 )
Repayments of notes payable in cash     (96,000 )     (241,500 )
Less amounts converted to stock     (1,483,285 )     (682,690 )
Notes payable at end of period     7,356,144       3,193,956  
Less debt discount     (2,624,984 )     (1,145,849 )
    $ 4,731,160     $ 2,048,107  
                 
Notes payable issued to related parties   $ 270,000     $ 170,000  
Notes payable issued to non-related parties   $ 4,461,160     $ 1,878,107  

Schedule of Maturity Dates of Notes Payable and Long Term Loan

The maturity dates on the notes payable are as follows:

 

Twelve months ending,   Non-related parties     Related parties     Total  
Past due   $ 1,122,403     $ 170,000     $ 1,292,403  
December 31, 2018     5,963,741       100,000       6,063,741  
Total   $ 7,086,144     $ 270,000     $ 7,356,144  

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

The maturity dates on the loan are as follows:

 

Maturity dates of long term debt

 

Twelve months ending,      
December 31, 2018   $ 4,221  
    $ 4,221  
         
Current portion   $ 4,221