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)
3 Months Ended
Mar. 31, 2018
Schedule of Note Payables

As of March 31, 2018, other notes payable outstanding totaled $2,794,903, of which $1,019,903 are past maturity.

 

    March 31, 2018     December 31, 2017  
             
Notes payable at beginning of period   $ 7,356,144     $ 3,193,956  
Notes payable issued     422,370       5,837,070  
Settlements on note payable     -       (95,597 )
Repayments of notes payable in cash     -       (96,000 )
Less amounts converted to stock     (477,491 )     (1,483,285 )
Notes payable at end of period     7,301,023       7,356,144  
Less debt discount     (1,839,636 )     (2,624,984 )
    $ 5,461,387     $ 4,731,160  
                 
Notes payable issued to related parties   $ 270,000     $ 270,000  
Notes payable issued to non-related parties   $ 5,191,387     $ 4,461,160  

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   $ 1,628,653     $       -     $ 1,628,653  
March 31, 2019     5,402,370       270,000       5,672,370  
Total   $ 7,031,023     $ 270,000     $ 7,301,023

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

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

 

Twelve months ending,      
March 31, 2019   $ 1,064  
    $ 1,064  
         
Current portion   $ 1,064  
Long term portion   $ -