Note 6 - Notes Payable

12 Months Ended

Dec. 31, 2015

Notes

Note 6 - Notes Payable

Note 6 – Notes Payable

As of December 31, 2015, we had short-term notes payable to certain individuals and companies totaling $459,801. These notes are unsecured, payable to non-related parties and bear interest at rates ranging from 0% to 25%. As of December 31, 2015, several of the notes payable were delinquent. We believe we have good relationships with the note holders, and we continue to have discussions with them regarding the extension of maturity dates or settlement of amounts due. Several of the convertible debentures have default interest rates that apply when the debentures are delinquent.

As of December 31, 2014, we had short-term notes payable to certain individuals and companies totaling $120,328. These notes are payable to non-related parties and bear interest at rates ranging from 14% to 16% per annum.

Accrued interest payable for the short-term notes payable, including accrued default interest where applicable, was $82,144 and $44,358 as of December 31, 2015 and 2014, respectively.