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Notes Payable | 6 Months Ended | 12 Months Ended
--- | --- | ---
Jun. 30, 2017 | Dec. 31, 2016
Debt Disclosure [Abstract] |  |
Notes Payable |
8. | Notes Payable
Notes payable consists of the following at June 30, 2017 and December 31, 2016:
|  | June 30, 2017 |  |  | December 31, 2016 |
Notes payable bearing interest at 7.99%. The note is payable in monthly principal plus interest payments of $472 through December, 2020. The note is secured by a vehicle. |  | $ | - |  |  | $ | 16,642 |
Notes payable bearing interest at 8%. The notes have a 2-year maturity and are due at various dates between September 19, 2018 – October 19, 2018, and pay interest only on a monthly basis. |  |  | 460,000 |  |  |  | 547,500 |
Note payable bearing interest at 2.74%. The note is payable in monthly principal plus interest payments of $100 through December, 2019. |  |  | 2,909 |  |  |  | - |
Note payable bearing interest at 4.00%. The note is payable in quarterly principal plus interest payments of $9,614 through March, 2019. |  |  | 74,354 |  |  |  | - |
Convertible notes payable bearing interest at 4.00%. The notes principal plus accrued interest is due in full at various dates between April 3, 2020 – June 30, 2020. The notes have an automatic conversion feature upon the closing (or first in a series of closings) of the next equity financing in which the Company sells shares of its equity securities for an aggregate consideration of at least $4,000,000 at a purchase price of at least $7.50. The outstanding principal and unpaid accrued interest on the Note shall be automatically converted into equity securities at a price equal to 80% of the price paid per share by the investors in the next equity financing or $6.00, whichever is lower, provided, however, that in no event shall the conversion price be less than $6.00. The note has a voluntary conversion feature where the investor may convert, in whole or in part, at any time at the conversion rate of $6.00. |  |  | 1,408,627 |  |  |  | - |
Note payable bearing interest at 5.00%. The note principal plus accrued interest is due in full in April, 2020. |  |  | 60,247 |  |  |  | - |
Total notes payable |  |  | 2,006,137 |  |  |  | 564,142 |
Less current portion |  |  | (40,337 | ) |  |  | (4,537 | )
Less debt discount for detachable warrant |  |  | (79,192 | ) |  |  | (131,849 | )
Long-term portion of notes payable |  | $ | 1,886,608 |  |  | $ | 427,756 |
Maturities on notes payable as of June 30, 2017, are as follows: Year ending December 31:
2017 |  | $ | 28,482 |
2018 |  |  | 498,377 |
2019 |  |  | 10,404 |
2020 |  |  | 1,468,874 |
Thereafter |  |  | - |
|  | $ | 2,006,137 |
6. | Notes Payable
Notes payable consists of the following at December 31:
|  | 2016 |  |  | 2015 |
Notes payable bearing interest at 7.99%. The note is payable in monthly principal plus interest payments of $472 through December, 2020. The note is secured by a vehicle. |  | $ | 16,642 |  |  | $ | 21,940 |
Notes payable bearing interest at 8%. The notes have a 2-year maturity and are due at various dates between September 19, 2018 – October 19, 2018, and pay interest only on a monthly basis |  |  | 547,500 |  |  |  |  |
Total note payable |  |  | 564,142 |  |  |  | 21,940 |
Less current portion |  |  | (4,537 | ) |  |  | (4,098 | )
Less debt discount for detachable warrant |  |  | (131,849 | ) |  |  |  |
Total notes payable, less current portion and debt discount |  | $ | 427,756 |  |  | $ | 17,842 |
Maturities on notes payable as of December 31, 2016, are as follows: Year ending December 31:
2017 |  | $ | 4,537 |
2018 |  |  | 554,915 |
2019 |  |  | 4,690 |
Thereafter |  |  | - |
|  | $ | 564,142 |

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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 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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