Quarterly report pursuant to Section 13 or 15(d)

Notes Payable and Long Term Loan (Tables)

v2.4.1.9
Notes Payable and Long Term Loan (Tables)
3 Months Ended
Mar. 31, 2015
Notes Payable and Long Term Loan [Abstract]  
Schedule of notes payable
 

 

 

As of

 

 

 

March 31, 2015

 

 

December 31, 2014

Notes payable at beginning of period

 

$

1,377,416 

 

$

710,072 

Notes payable issued for cash

 

 

212,500 

 

 

935,500 

Less amounts converted to stock

 

 

(295,915)

 

 

(268,156)

Notes payable at end of period

 

 

1,294,001 

 

 

1,377,416 

Less debt discount

 

 

 

 

(2,391)

 

 

$

1,294,001 

 

$

1,375,025 

 

 

 

 

 

 

 

Notes payable issued to related parties

 

$

341,000 

 

$

291,000 

Notes payable issued to non-related parties

 

$

953,001 

 

$

1,086,416 

 
Schedule of future minimum payments



 

Twelve months ending,

 

 

 

 

March 31, 2016

 

$

11,764

 

March 31, 2017

 

$

12,121

 

March 31, 2018

 

$

12,488

 

March 31, 2019

 

$

1,064

 

 

 

$

37,437

 

 

 

 

 

 

Current portion

 

$

11,764

 

Long term portion

 

$

25,673