| Schedule of Debt |
The following is a summary of the Company’s
financing arrangements as of December 31, 2015 and 2014:
| |
|
2015 |
|
|
2014 |
|
| Current portion of long term debt: |
|
|
|
|
|
|
|
|
| Mortgages and other term notes |
|
$ |
— |
|
|
$ |
— |
|
| Current portion of notes payable |
|
|
402,322 |
|
|
|
677,572 |
|
| Current portion of notes payable – related party |
|
|
310,100 |
|
|
|
163,666 |
|
| Note discounts |
|
|
(47,341 |
) |
|
|
(349,891 |
) |
| Total current portion of long term debt |
|
$ |
665,081 |
|
|
$ |
491,347 |
|
| |
|
|
|
|
|
|
|
|
| Current portion of convertible debentures: |
|
|
|
|
|
|
|
|
| TCA Global Credit Master Fund, L.P., 11% interest, conversion at 85% of market |
|
$ |
2,900,000 |
|
|
|
— |
|
| Better Half Bloodstock, Inc., 0% interest, conversion at 90% of market |
|
|
50,000 |
|
|
|
— |
|
| Dakota Capital, 6% interest, conversion at 90% of market |
|
|
549,723 |
|
|
|
— |
|
| EFG Bank, 6% interest, conversion at 90% of market |
|
|
117,948 |
|
|
|
— |
|
| Empire Equity, 6% interest, conversion at 90% of market |
|
|
113,768 |
|
|
|
— |
|
| Epelbaum Revocable Trust, 6% interest, conversion at 90% of market |
|
|
91,252 |
|
|
|
— |
|
| JMC Holdings, LP, 6% interest, conversion at 90% of market |
|
|
140,380 |
|
|
|
— |
|
| David Moran & Siobhan Hughes, 6% interest, conversion at 90% of market |
|
|
2,399 |
|
|
|
— |
|
| Susan Schneider, 6% interest, conversions at 90% of market |
|
|
10,510 |
|
|
|
— |
|
| Mountainville Ltd., 6% interest, conversions at 90% of market |
|
|
1,190,446 |
|
|
|
— |
|
| TRK Management LLC, 6% interest, no conversion discount |
|
|
100,000 |
|
|
|
— |
|
| Cantrell Winsness Technologies, LLC, 2% interest, conversion at 100% of market |
|
|
75,000 |
|
|
|
— |
|
| Minority Interest Fund (II), LLC, 6% interest, conversion at 90% of market |
|
|
1,517,830 |
|
|
|
— |
|
| Long Side Ventures, 6% interest, conversion at 90% of market |
|
|
85,000 |
|
|
|
— |
|
| Related Party Debenture, 6% interest, no conversion discount |
|
|
59,440 |
|
|
|
— |
|
| 112359 Factor Fund LLC, 6% interest, net of discount |
|
|
— |
|
|
|
690,184 |
|
| FLUX Carbon Starter Fund LLC, 6% interest, no conversion discount |
|
|
255,000 |
|
|
|
— |
|
| Five Nine Group LLC, 6% interest, no conversion discount |
|
|
250,000 |
|
|
|
— |
|
| Asher Enterprises, Inc. 8% interest, conversion at 59% of market, net of discount |
|
|
|
|
|
|
16,798 |
|
| Donald Wachelka, 8.5% interest, conversion at $0.10 |
|
|
- |
|
|
|
50,000 |
|
| Convertible note related party, conversion at $0.05 |
|
|
— |
|
|
|
150,000 |
|
| Settlement Contingency Debentures |
|
|
240,000 |
|
|
|
101,000 |
|
| Total current portion of convertible debentures |
|
$ |
7,748,696 |
|
|
$ |
1,007,982 |
|
| |
|
|
|
|
|
|
|
|
| Long term convertible debentures: |
|
|
|
|
|
|
|
|
| Gerova Asset Backed Holdings, LP, 2% interest, no conversion discount |
|
$ |
175,000 |
|
|
$ |
— |
|
| Cantrell Winsness Technologies, LLC, 2% interest, conversion at 100% of market |
|
|
325,000 |
|
|
|
— |
|
| Long Side Ventures, 6% interest, conversion at 90% of market |
|
|
225,586 |
|
|
|
— |
|
| EXO Opportunity Fund, LLC, 6% interest, conversion at 90% of market |
|
|
4,500,000 |
|
|
|
— |
|
| Note discount |
|
|
(4,500,000 |
) |
|
|
— |
|
| Total long term convertible debentures |
|
$ |
725,586 |
|
|
$ |
— |
|
|