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12. Related Party Transactions | 12 Months Ended
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Dec. 31, 2019
Notes |
12. Related Party Transactions | 12. Related Party Transactions At December 31, 2019 and 2018, the Company had the following notes payable to related parties:
|  | 2019 |  | 2018
Mine Systems Design, 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 two officers and one former officer of the Company, 6% interest, monthly payments of $3,777 with a balloon payment of $148,285 in February 2021 |  | 189,236 |  | 222,131
H&H Metals, shareholder and concentrate broker, 8% interest, principal and interest due March 2021 |  | 27,438 |  | -
Total |  | 216,674 |  | 236,827
Current portion |  | 34,924 |  | 47,591
Long term portion | $ | 181,750 | $ | 189,236
At December 31, 2019, $34,924 of related party debt is payable in 2020 and the remaining $181,750 is payable in 2021. Related party interest expense for the years ending December 31, 2019 and 2018 was $15,169 and $40,624, respectively. There is no accrued interest payable at December 31, 2019 or 2018 on these notes. During the years ended December 31, 2019 and 2018, the Company paid $9,000 and $40,500, respectively, to the Company’s previous chairman of the board, Del Steiner for consulting purposes. He retired in July 2019. As of December 31, 2019 and 2018, gold sales receivable from H&H Metals, who owns 4% of the Company’s outstanding common stock, were $305,924 and $74,673, respectively. Concentrate sales to H&H Metals were $5,857,942 and $3,305,731, during the years ended December 31, 2019 and 2018, respectively. The Company leases office space from certain related parties on a month to month basis. Payments under these short-term lease arrangements totaled $24,000 and $23,375 for the year’s ended December 31, 2019 and 2018, respectively, and are included in general and administrative expenses on the Consolidated Statement of Operations.

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- Definition The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -URI http://asc.fasb.org/topic&trid=2122745 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39691-107864 + Details
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