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5. Related Party Transactions: Related Party interest expense (Tables)
9 Months Ended
Sep. 30, 2019
Tables/Schedules  
Related Party interest expense

 

 

 

September 30,

2019

 

December 31,

2018

Mine Systems Design (“MSD”), a company in which our Company’s Vice President owns 10.4%, 12% interest, monthly payments of $4,910 through March 2019

$

-

$

14,696

Ophir Holdings LLC, a company owned by three of the Company’s Officers, 6% interest, monthly payments of $3,777 with a balloon payment of $148,285 in February 2021

 

197,647

 

222,131

H&H Metals, a company that owns 4% of the Company’s outstanding common stock, 8% interest, balance due April 2021

 

51,688

 

-

Total

 

249,335

 

236,827

Current portion

 

(36,095)

 

(47,591)

Long term portion

$

213,240

$

189,236

Related Party Interest Expense

 

2019

2018

Three Months

Nine Months

Three Months

Nine Months

$

4,068

$

11,497

$

4,663

$

36,491