| Schedule of Related Party Transactions |
| | | 2015 | | | 2014 | | | Note payable to Terry Turner with an interest rate of 5% that matured on July 27, 2013 and is collateralized by the Gold Bar Mill. This note was entered into on July 27, 2012 in lieu of a severance payment due to Mr. Turner in accordance with his employment agreement. On August 31, 2016, the Company and Mr. Turner agreed to satisfy principal and interest with proceeds from the sale of the Gold Bar Mill. In consideration of this concession, Mr. Turner was issued 1,000 shares of the Company's common stock in June 2016. As of December 31, 2015 and 2014, there was $60,027 and $42,527, respectively, in accrued interest outstanding on this note. | | | 350,000 | | | | 350,000 | | | | | | | | | | | | | Note payable to Tracy Madsen with an interest rate of 5% that matured on August 12, 2014 and is collateralized by the Gold Bar Mill. This note was entered into on August 12, 2013 in lieu of a severance payment due to Mr. Madsen in accordance with his employment agreement. On August 31, 2016, the Company and Mr. Madsen agreed to satisfy principal and interest with proceeds from the sale of the Gold Bar Mill. In consideration of this concession, Mr. Madsen was issued 1,000 shares of the Company's common stock in June 2016. As of December 31, 2015, there was $34,447 and $21,114, respectively, in accrued interest outstanding on this note. | | | 266,667 | | | | 266,667 | | | | | | | | | | | | | Uncollateralized Note Payable to Gulf Coast Capital with an interest rate of 5% that matured on December 31, 2013. On October 30, 2015, Gulf Coast Capital received 160,000 shares of the Company's Series B Preferred Stock in satisfaction of $1,000 of amounts owed. On December 31, 2015, Gulf Coast Capital assumed a $71,612 note payable and $3,832 in accrued interest from Terry Turner, resulting in $145,112 and $11,951 principal and accrued interest balances, respectively, at December 31, 2015. As of December 31, 2014, there was $4,602 in accrued interest outstanding on this note. | | | 145,112 | | | | 70,500 | | | | | | | | | | | | | Uncollateralized Note Payable to Terry Turner that was issued on various dates during 2014 and is due on demand. The December 31, 2014 balance was increased during 2015 with a $10,000 loan and acquisition of $16,112 in reimbursable expenses due Crown Law (Note E). These individual amounts had been accruing interest at 5%, and on December 31, 2015, the outstanding amounts were consolidated into a single convertible note also bearing interest at 5% with a maturity date of December 31, 2020. The note and accrued interest, or any portion thereof, are convertible at the option of Mr. Turner, into the Company's common stock at a fixed rate of $.025 per share. On December 31, 2015, the total balance of $71,612 plus $3,832 in accrued interest was transferred to Gulf Coast Capital, resulting in $0 principal and interest balances at December 31, 2015. As of December 31, 2014, there was $1,275 in accrued interest outstanding on this note. | | | - | | | | 45,500 | | | Uncollateralized Note Payable to Avcon Services, Inc. with an interest rate of 5% due on demand. This note was entered into on October 1, 2015 and represents accrued consulting services for the period of June 2014 through September 2015. Of the total outstanding balance, $14,000 in June through December 2014 accruals were included in Accounts Payable - Related Parties at December 31, 2014. The note and accrued interest, or any portion thereof, are convertible at the option of Avcon, into the Company's common stock at a fixed rate of $.025 per share at any time through December 31, 2020. As of December 31, 2015 and 2014, there was $384 and $0, respectively, in accrued interest outstanding on this note. | | | 30,500 | | | | - | | | | | | | | | | | | | Total | | $ | 792,279 | | | $ | 732,667 | | | | | | | | | | | | | | | |
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