v3.8.0.1

Notes Payable and Notes Payable - Related Parties | 12 Months Ended
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Dec. 31, 2017
Notes Payable and Notes Payable - Related Parties [Abstract] |
NOTES PAYABLE AND NOTES PAYABLE - RELATED PARTIES | NOTE 7 – NOTES PAYABLE AND NOTES PAYABLE - RELATED PARTIES At December 31, 2017 and December 31, 2016, notes payable consisted of the following:
|  | December 31, 2017 |  | December 31, 2016
Notes payable |  | $ | 328,783 |  |  | $ | 336,283 |
Notes payable, convertible |  |  | 25,000 |  |  |  | 25,000 |
Notes payable, related parties |  |  | 27,000 |  |  |  | — |
Notes payable, related parties, convertible |  |  | 2,059,425 |  |  |  | 1,824,633 |
Total |  | $ | 2,440,208 |  |  | $ | 2,185,916 |
NOTES PAYABLE Notes payable consisted of the following:
|  |  |  | December 31, 2017 |  | December 31, 2016
Note payable to a former shareholder, past due as of January 2012, together with accrued interest at 5% APR and interest on overdue principal accruing at 10% APR. |  |  | (a) |  |  | $ | 28,783 |  |  | $ | 28,783 |
Note payable to a shareholder, past due as of August 1, 2015, together with accrued interest at 10% APR. |  |  | (b) |  |  |  | 300,000 |  |  |  | 300,000 |
Note payable to a shareholder, payable upon demand, together with imputed interest only, as applicable. |  |  | (c) |  |  |  | — |  |  |  | 7,500 |
Total |  |  |  |  |  | $ | 328,783 |  |  | $ | 336,283 |
As of December 31, 2017, the Company had outstanding a past due note payable (b) to a shareholder in the amount of $300,000. During the year ended December 31, 2017, the Company paid note payable (c) to a shareholder in the amount of $7,500. At December 31, 2017, the Company was in arrears on an unsecured term note payable (a) to a former shareholder, and a separate unsecured term note payable (b) to a current shareholder. NOTES PAYABLE, CONVERTIBLE Notes payable, convertible consisted of the following:
|  |  |  | December 31, 2017 |  | December 31, 2016
Note payable to an investor due as of January 20, 2018, together with accrued interest at 10% APR, and convertible at $0.01 per share of common stock. |  |  | (a) |  |  | $ | 25,000 |  |  | $ | 25,000 |
Total |  |  |  |  |  | $ | 25,000 |  |  | $ | 25,000 |
NOTES PAYABLE, RELATED PARTIES Notes payable, related parties consisted of the following:
|  |  |  | December 31, 2017 |  | December 31, 2016
Note payable to the Company’s general counsel (also a shareholder), due November 10, 2017. |  |  | (a) |  |  | $ | 7,000 |  |  | $ | — |
Note payable to an independent contractor (also a shareholder), which note payable is due December 3, 2017. |  |  | (b) |  |  |  | 10,000 |  |  |  | — |
Note payable to an independent contractor (also a shareholder), which note payable is due December 20, 2017. |  |  | (c) |  |  |  | 10,000 |  |  |  | — |
Total |  |  |  |  |  | $ | 27,000 |  |  | $ | — |
At December 31, 2017, the Company was in arrears on the unsecured term note payable (a) to the Company’s general counsel, also a shareholder, and on the unsecured term note payables (b) and (c) to an independent contractor, also a shareholder. NOTES PAYABLE, RELATED PARTIES, CONVERTIBLE Notes payable, related parties, convertible consisted of the following:
|  |  |  | December 31, 2017 |  | December 31, 2016
Note payable to a company controlled by an outside director (also a shareholder), due on demand together with accrued interest at 4.5% APR, and convertible at $0.01 per share of common stock. |  |  | (a) |  |  | $ | 60,000 |  |  | $ | 60,000 |
Note payable to the Company’s general counsel (also a shareholder), due on demand together with accrued interest at 4.5% APR, and convertible at $0.01 per share of common stock. |  |  | (b) |  |  |  | 150,000 |  |  |  | 150,000 |
Note payable to an outside director (also a shareholder), due on demand together with accrued interest at 4.5% APR, and convertible at $0.01 per share of common stock. |  |  | (c) |  |  |  | 30,000 |  |  |  | 30,000 |
Note payable to the Company’s general counsel (also a shareholder), due on demand together with accrued interest at 4.5% APR, and convertible at $0.007 per share of common stock. |  |  | (d) |  |  |  | 120,000 |  |  |  | 120,000 |
Note payable to the Company’s general counsel (also a shareholder), due on demand together with accrued interest at 12% APR, and convertible at $0.008 per share of common stock. |  |  | (e) |  |  |  | 10,000 |  |  |  | 10,000 |
Note payable to a related party investor (by virtue of shareholding percentage, both actual and on an as-converted basis), due November 13, 2018 together with accrued interest at 10% APR, and convertible at $0.01 per share of common stock. |  |  | (f) |  |  |  | 100,000 |  |  |  | 100,000 |
Note payable to a related party investor (by virtue of shareholding percentage, both actual and on an as-converted basis), due March 4, 2017 together with accrued interest at 10% APR, and convertible at $0.01 per share of common stock. |  |  | (g) |  |  |  | 50,000 |  |  |  | 50,000 |
Note payable to a related party investor (by virtue of shareholding percentage, both actual and on an as-converted basis), due March 18, 2019 together with accrued interest at 10% APR, and convertible at $0.01 per share of common stock. |  |  | (h) |  |  |  | 100,000 |  |  |  | 100,000 |
Note payable to a related party investor (by virtue of shareholding percentage, both actual and on an as-converted basis), due May 12, 2019 together with accrued interest at 10% APR, and convertible at $0.01 per share of common stock. |  |  | (i) |  |  |  | 50,000 |  |  |  | 50,000 |
Note payable to a related party investor (by virtue of shareholding percentage, both actual and on an as-converted basis), due June 7, 2019 together with accrued interest at 10% APR, and convertible at $0.01 per share of common stock. |  |  | (j) |  |  |  | 200,000 |  |  |  | 200,000 |
Note payable to a related party investor (by virtue of shareholding percentage, both actual and on an as-converted basis), due July 28, 2019 together with accrued interest at 10% APR, and convertible at $0.01 per share of common stock. |  |  | (k) |  |  |  | 300,000 |  |  |  | 300,000 |
Note payable to an outside director (also a shareholder), due on demand together with accrued interest at 4.5% APR, and convertible at $0.007 per share of common stock. |  |  | (l) |  |  |  | 55,500 |  |  |  | 55,500 |
Note payable to an outside director (also a shareholder), due on demand together with accrued interest at 4.5% APR, and convertible at $0.007 per share of common stock. |  |  | (m) |  |  |  | 20,500 |  |  |  | 20,500 |
Note payable to the Company’s president and chief executive officer (also a shareholder), due on demand together with accrued interest at 4.5% APR, and convertible at $0.007 per share of common stock. |  |  | (n) |  |  |  | 349,329 |  |  |  | 349,329 |
Note payable to the Company’s controller who is also a shareholder, which note is due on demand together with interest at 4.5% APR, and convertible at $0.007 per share of common stock. |  |  | (o) |  |  |  | 134,604 |  |  |  | 134,604 |
Note payable to the Company’s vice president of research and development (also a shareholder), due on demand together with accrued interest at 4.5% APR, and convertible at $0.007 per share of common stock. |  |  | (p) |  |  |  | 49,000 |  |  |  | 49,000 |
Note payable to an independent contractor (also a shareholder), which note payable is due on demand together with interest at 4.5% APR, and convertible at $0.007 per share of common stock. |  |  | (q) |  |  |  | 25,700 |  |  |  | 25,700 |
Note payable in the name of a son of an outside director (also a shareholder), due on demand together with accrued interest at 4.5% APR, and convertible at $0.005 per share of common stock. |  |  | (r) |  |  |  | 20,000 |  |  |  | 20,000 |
Note payable to an outside director (also a shareholder), due on demand together with accrued interest at 4.5% APR, and convertible at $0.015 per share of common stock. |  |  | (s) |  |  |  | 28,500 |  |  |  | — |
Note payable to an outside director (also a shareholder), due on demand together with accrued interest at 4.5% APR, and convertible at $0.015 per share of common stock. |  |  | (t) |  |  |  | 9,500 |  |  |  | — |
Note payable to the Company’s president and chief executive officer (also a shareholder), due on demand together with accrued interest at 4.5% APR, and convertible at $0.015 per share of common stock. |  |  | (u) |  |  |  | 87,532 |  |  |  | — |
Note payable to the Company’s controller who is also a shareholder, which note is due on demand together with interest at 4.5% APR, and convertible at $0.015 per share of common stock. |  |  | (v) |  |  |  | 28,010 |  |  |  | — |
Note payable to an independent contractor (also a shareholder), which note is due on demand together with interest at 4.5% APR, and convertible at $0.01 per share of common stock. |  |  | (w) |  |  |  | 81,250 |  |  |  | — |
Total |  |  |  |  |  | $ | 2,059,425 |  |  | $ | 1,824,633 |
Notes (a), (c), (l) (r) and (s) reflect amounts due to a single outside director of the Company, who is also a shareholder, based on such director having (i) made certain vendor obligation payments directly on behalf of and for the benefit of the Company, (ii) having advanced certain funds to the Company at various dates for general working capital purposes, and (iii) having accrued director’s fees earned through June 30, 2017. In addition, the Company has recorded accounts payable, related parties, in the amount of $12,426 to the holder of notes (a), (c), (l) (r) and (s). Notes (b) and (d) reflect payment obligations owed to the Company’s general counsel for legal services incurred by the Company for the years ended December 31, 2015 and 2014. Note (e) reflects a convertible debt investment made by the Company’s general counsel to the Company. Notes (f), (g), (h), (i), (j) and (k) reflect amounts due to a certain related party investor and significant shareholder for convertible debt investments made from time to time as indicated. Notes (m) and (t) reflect amounts due to an outside director, who is also a shareholder, for accrued director’s fees earned through June 30, 2017. Notes (n) and (u) reflect amounts due to the Company’s president and chief executive officer, who is also a shareholder, for previously accrued base salary. Note (o) and (v) reflect amounts due to the Company’s controller, who is also a shareholder, for previously accrued base salary. Note (p) reflects amounts due to the Company’s vice president of research and development, who is also a shareholder, for previously accrued wages. Note (q) reflects amounts due to an independent contractor who was President of one of EcoSmart’s divisions prior to the merger with EcoSmart and a current shareholder of the Company, for past earnings. See Note 13. Note (w) reflects amounts due to an independent contractor, who is a shareholder, for previously accrued business development services. For the year ended December 31, 2017, the Company received proceeds from the issuance of notes payable to related parties in the amount of $27,000 and convertible notes payable to related parties in the amount of $234,792 (total $261,792). For the year ended December 31, 2016, the Company received proceeds from the issuance of convertible notes payable in the amount of $45,000 and an additional $700,000 from the issuance of convertible notes payable to related parties (total $745,000). At December 31, 2017, the Company was in arrears on the convertible note payable (g) to a related party investor.

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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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