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8. Long-Term Debt | 12 Months Ended
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Dec. 31, 2020
Debt Disclosure [Abstract] |
Long-Term Debt |
Long-Term debt at December 31, 2020 and 2019 is as follows: |  |  |  |
|  | 2020 |  |  | 2019 |
Note payable to Zeo Inc., non interest bearing, |  |  |  |  |  |
payable in 11 quarterly installments of $8,300 with a final payment of $8,700; |  |  |  |  |  |
maturing December 2022; uncollateralized. |  | $ | 66,800 |  |  | $ | 100,000 |
Note payable to Cat Financial Services, bearing interest at 6%; |  |  |  |  |  |  |  |
payable in monthly installments of $778; maturing |  |  |  |  |  |  |  |
December 2022; collateralized by equipment. |  |  | 17,480 |  |  |  | 26,250 |
Note payable to De Lage Landen Financial Services, |  |  |  |  |  |  |  |
bearing interest at 3.51%; payable in monthly installments of $655; |  |  |  |  |  |  |  |
maturing September 2019; collateralized by equipment. |  |  |  |  |  |  | 700 |
Note payable to Phyllis Rice, bearing interest |  |  |  |  |  |  |  |
at 1%; payable in monthly installments of $2,000; originally maturing |  |  |  |  |  |  |  |
March 2015; collateralized by equipment. |  |  | 2,146 |  |  |  | 6,146 |
|  |  | 86,426 |  |  |  | 133,096 |
Less current portion |  |  | (52,122 | ) |  |  | (56,334 | )
Long-term portion |  | $ | 34,304 |  |  | $ | 76,762 |
At December 31, 2020, principal payments on debt are due as follows:
12 Months Ending December 31, |  | Principal Payment |
2021 |  |  | 52,122 |
2022 |  |  | 34,304 |
|  | $ | 86,426 |
In the fourth quarter 2019, the Company abandoned the Soyatal and Guadalupe mineral properties in Mexico. The balances of the related debt, net of discount, on the date of abandonment is $603,743 and $922,780, respectively. The carrying value of the mineral properties, less the outstanding related notes payable balances resulted in a loss of $1,410,736 recognized on the abandonment of mineral properties during the year ended December 31, 2019.

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- Definition The entire disclosure for long-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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