| Schedule of Long-term Debt Instruments [Table Text Block] |
Notes and Loans Payable as of March 31, 2016 and December 31, 2015 consisted of the following:
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Description
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31-Mar-16
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31-Dec-15
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Note payable - Credit line, payable to Ascentium Capital, bearing interest at 24% per annum, unsecured, matures in February 2016
|
|
$
|
-
|
|
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$
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6,705
|
|
|
Note payable to Ascentium Capital, secured by truck, bearing interest at 9% per annum, matures in September, 2017*
|
|
|
8,151
|
|
|
|
9,341
|
|
|
Less current portion truck loan
|
|
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-4,983
|
|
|
|
-4,048
|
|
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Note payable – Orchard Street Funding – This loan was paid off in January, 2016
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|
|
-
|
|
|
|
45,240
|
|
|
Note payable – other bearing interest at 12% per annum, unsecured, demand note.
|
|
|
60,762
|
|
|
|
59,832
|
|
|
Note payable to Web Bank, borrowed 2-1-16, bearing interest at 23% per annum, unsecured, matures in March, 2017*
|
|
|
130,907
|
|
|
|
-
|
|
|
Convertible note payable - EMA Financial, borrowed 3-16-16, due 3-16-17 with interest at 8% per annum - convertible into common stock
|
|
|
40,000
|
|
|
|
-
|
|
|
Convertible note payable - JMJ Financial, borrowed 3-23-16, due 3-23-18 with interest at 12% per annum - convertible into common stock
|
|
|
27,777
|
|
|
|
-
|
|
|
Original issue discounts and points on loans - less amortization of $1,768 for the quarter ended March 31, 2016
|
|
|
-21,009
|
|
|
|
-
|
|
| |
|
|
|
|
|
|
|
|
|
Total notes payable
|
|
|
241,605
|
|
|
|
117,070
|
|
|
Long term debt - net of current portion
|
|
|
3,168
|
|
|
|
5,292
|
|
|
Total other notes and loans payable
|
|
$
|
238,437
|
|
|
$
|
111,778
|
|
*This debt is collateralized by the specific asset in the case of the truck loan and the WebBank loans is personally guaranteed by an officer of the Company.
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| Schedule of Maturities of Long-term Debt [Table Text Block] |
Maturity of notes and loans payable
|
Maturity of notes and loans payable
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|
|
|
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For the period Ending March 31,
|
Amount
|
|
Amount
|
|
|
2016
|
|
$
|
151,481
|
|
|
$
|
111,178
|
|
|
2017
|
|
|
62,347
|
|
|
|
|
|
|
2018
|
|
|
27,777
|
|
|
|
|
|
|
Total
|
|
$
|
241,605
|
|
|
$
|
111,178
|
|
|