Annual report pursuant to Section 13 and 15(d)

Notes Payable and Long Term Loan (Tables)

v3.19.1
Notes Payable and Long Term Loan (Tables)
12 Months Ended
Dec. 31, 2018
Debt Disclosure [Abstract]  
Schedule of Note Payable

    As of December 31,  
    2018     2017  
             
Notes payable at beginning of period   $ 7,356,144     $ 3,193,956  
Notes payable issued     3,131,870       5,837,070  
Loan fees added to note payable     147,000       -  
Settlements on note payable     (47,500 )     (95,597 )
Repayments of notes payable in cash     (555,500 )     (96,000 )
Less amounts converted to redeemable notes     (212,500 )     -  
Less amounts converted to stock     (1,661,316 )     (1,483,285 )
Notes payable at end of period     8,158,198       7,356,144  
Less debt discount     (1,833,795 )     (2,624,984 )
    $ 6,324,403     $ 4,731,160  
                 
Notes payable issued to related parties   $ 270,000     $ 270,000  
Notes payable issued to non-related party   $ 6,054,403     $ 4,461,160  

Schedule of Maturity Dates of Notes Payable

The maturity dates on the notes payable are as follows:

 

Twelve months ending,   Non-related parties     Related parties     Total  
Past due   $ 3,814,328     $ -     $ 3,814,328  
December 31, 2019     4,073,870       270,000       4,343,870  
Total   $ 7,888,198     $ 270,000     $ 8,158,198