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Note 8 - Notes Payable | 12 Months Ended
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Dec. 31, 2014
Notes |
Note 8 - Notes Payable | NOTE 8 – NOTES PAYABLE
Notes payable consist of the following for the periods ended; | 12/31/2014 | 12/31/2013
Promissory note from a related party dated December 30, 2013 with an interest rate stated at 8%. Interest and principal due at maturity December 30, 2014. | $0 | $9,000
Promissory note from a related party dated December 30, 2013 with an interest rate stated at 8%. Interest and principal due at maturity December 30, 2014. | 0 | 3000
` |  |
Promissory note from a related party issued as working capital advances during 2014 with an interest rate stated at 0%. This note is due on demand. | 80,894 | 0
Promissory note from a related party dated December 30, 2013 with an interest rate stated at 8%. Interest and principal due at maturity December 30, 2014. | 0 | 750
Note dated June 22, 2014 with an interest rate stated at 4%. This note is convertible into 270,000 shares of common stock. | 135,000 | 0
Total Notes Payable | 215,894 | 12,750
Less Current Portion | 215,894 | 12,750
Long Term Notes Payable | $0 | $0
All are classified as short term by the Company. Accrued interest on these notes totaled. | $0 | $16,488

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 19, 20, 22 -Article 5 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19,20,22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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