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7. Notes Payable: Schedule of Debt (Tables)
12 Months Ended
Dec. 31, 2016
Tables/Schedules  
Schedule of Debt

 

 

2016

2015

Note payable, 4.91% interest rate payable monthly, remaining principal of note due in one payment at end of term, collateralized by property, monthly payments of $459

$

39,021

$

42,726

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 $1,124

 

98,559

 

105,196

Note payable, 17.53% interest per annum, collateralized by pump, monthly payments of $3,268

 

48,035

 

76,097

Note payable for mineral property, 10 quarterly payments, 0.0% interest rate discounted at 10%, collateralized by mineral property, quarterly payments of $125,000

 

750,000

 

1,125,000

Total notes payable

 

935,615

 

1,349,019

Due within one year

 

664,787

 

572,806

Due after one year

$

270,828

$

776,213