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6. Notes Payable | 12 Months Ended
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Dec. 31, 2014
Notes |
6. Notes Payable | 6. Notes Payable At December 31, 2014 and 2013 notes payable are as follows:
| 2014 | 2013
2011 Dodge pickup 36 month note payable, 0.00% interest rate, collateralized by pickup, monthly payments of $740 | $ |  | $ | 1,479
Hagby Diamond Drill 36 month note payable, 6.9% interest rate payable monthly, collateralized by drill and guaranteed by former President Fred Brackebusch and Vice President Grant Brackebusch, monthly payments of $3,962 |  |  |  | 83,344
Property with shop 36 month note payable, 4.91% interest rate payable monthly, remaining principal of note due in one payment at end of term, monthly payments of $474 |  | 46,337 |  | 49,800
Property, 15 month note payable, 5% interest per annum, collateralized by property, one remaining payment of $175,000 |  | 175,000 |  |
Property 39 month note payable, 5.0% interest rate payable monthly, collateralized by property, monthly payments of $1,000 |  |  |  | 5,997
Property 120 month note payable, 11.0% interest rate payable monthly, remaining principal of note due in one payment at end of term, collateralized by property, monthly payments of $1,122 |  | 107,336 |  | 108,923
Total notes payable |  | 328,673 |  | 249,543
Due within one year |  | 180,385 |  | 55,663
Due after one year | $ | 148,288 | $ | 193,880
Maturities of debt outstanding at December 31, 2014 are as follows:
2015 |  | 180,385
2016 |  | 44,704
2017 |  | 2,207
2018 |  | 2,462
2019 |  | 2,747
Thereafter |  | 96,168
Total |  | 328,673

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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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