Note 9 - Long-term Debt

6 Months Ended

Jun. 30, 2016

Notes

Note 9 - Long-term Debt

NOTE 9 – LONG-TERM DEBT

Our long-term debt consisted of the following at June 30, 2016:

Long-term convertible debentures,   net of discount of $338,100 (see Note 5)	$216,550
Long-term note payable, net of discount of $23	29,977
Total	246,527
Current portion	29,977
Long-term debt	$216,550

 The long-term note payable is an unsecured note payable of $30,000 to an individual due July 30, 2016, with interest at 14% per annum.  Payment terms for the note payable are $350 per month for six months and $698 per month for sixty months, including interest. We are in default on the note payable at June 30, 2016 due to our failure to make timely payments in accordance with the terms of the note agreement.

Accrued interest payable for long-term debt was $43,742 and $41,648 as of June 30, 2016 and December 31, 2015, respectively.