v3.7.0.1
Note 6 Short Term Notes Payable (Details) - Schedule of Short-term Debt - USD ($)
Mar. 31, 2017
Dec. 31, 2016
Short-term Debt [Line Items]    
Note payable $ 138,762 $ 154,743
Orchard Street Funding [Member] | Loans Payable [Member]    
Short-term Debt [Line Items]    
Note payable [1] 0 0
Web Bank [Member] | Loans Payable [Member]    
Short-term Debt [Line Items]    
Note payable [1] 82,235 82,323
Quarterspot Lending [Member] | Loans Payable [Member]    
Short-term Debt [Line Items]    
Note payable [2] 39,027 40,474
Premier Capital Funding, LLC [Member] | Loans Payable [Member]    
Short-term Debt [Line Items]    
Note payable [3] $ 17,500 $ 27,546
[1] On February 1, 2016, the Company financed operations with a loan in the amount of $150,000 from WebBank. The note is an open credit line with interest rate of 23% maturing in March of 2017. A portion of the loan was used to pay off a credit loan from Orchard Street Funding in the amount of $44,061. On August 22, 2016, the Company ceased making payments on this loan and at December 31, 2016 the Company owed $82,235 in principal and accrued interest. This loan is personally guaranteed by an Officer of the Company. On March 20, 2017, the Company and WebBank agreed to a monthly payment schedule with payment of $2,508 per month until June 20, 2017, paid biweekly. No arrangements have been made for the final payment schedule on this loan beyond that date. No default notice has been received by the Company on the loan as of March 31, 2017. Payments on this account have been made for the past few months but most of the sums have been applied to interest.
[2] On June 28, 2016, the Company financed operations with a loan in the amount of $43,500 from Quarterspot, a lending institution. The note is an open line with interest rate of approximately 31% maturing in September of 2017. On August 22, 2016, the Company ceased making payments on this loan. As of December 31, 2016, the Company owed $40,474 in principal and accrued interest. This loan is not personally guaranteed by an Officer of the Company. On November 30, 2016, the Company and Quarterspot agreed to a monthly payment schedule with payment of $1,500 per month until January 31, 2017. On March 27, 2017, the Company agreed to begin payments of $3,010 per month for twelve months until paid in full. No arrangements have been made for the final payment schedule on this loan beyond that date. No default notice has been received by the Company on the loan as of March 31, 2017. Payments on this account have been made for the past few months but most of the sums have been applied to interest.
[3] On July 12, 2016, the Company financed operations with a loan in the amount of $45,000 from Premier Capital Funding, LLC, a lending institution. The note is an open line with interest rate of approximately 29% maturing in November 28, 2016. On August 22, 2016, the Company ceased making payments on this loan. On October 17, 2016, the Company agreed to pay Premier $4,000 per month for ten months to pay this loan in full. The Company had a total balance of $27,546 as of December 31, 2016. This loan is personally guaranteed by an Officer of the Company. No default notice has been received by the Company on the loan as of March 31, 2017. Payments on this account have been made for the past few months but most of the sums have been applied to interest.