Securitized Loans	6 Months Ended
Jun. 30, 2015
Notes to Financial Statements
Note 16 - Securitized Loans	16. Securitized Loans Prior to deconsolidation as discussed in Note 3, effective May 16, 2013 MAB-Z entered into a one year securitized financing short term agreement with CBZ Bank Limited in the amount of $420,000. As security under this agreement Kinsey pledged two Bell HD2045 Hydraulic Excavators appraised at a combined value of $739,000, further guaranteed by the shareholders of MAB-Z. The loan originally was to be paid in monthly installments commencing in December 2013 in the amount of $35,000 plus interest expiring on June 30, 2014 upon which time all monies were due and payable in full. The interest rate on the loan was 15% per year. Upon funding of this loan a 3% establishment fee was charged and deducted from the proceeds. MAB-Z may in the future obtain funding through securitizations and other attempts to raise capital until cash flow operations are self-sustaining in the support of continuing operations. This agreement was subsequently modified in January 2014 to adjust the payment schedule whereby payments of $35,000 per month plus full to date interest is due and payable commencing February 2014 and will continue each month there after including interest with the last payment due January 31, 2015. Subsequent to the restructuring, the account was over-drafted due to withdrawal of timely interest and principal payments as well as miscellaneous bank fees. The overdraft position as provided for in the agreement carries the banks minimum lending rate plus a 12% margin agreed to on the original loan upon acceptance. Additionally, as provided in our agreement this overdraft position not being previously agreed and authorized carried a penalty interest rate of an additional 10%. Additionally the bank reserved the right to increase or change the minimum rate during the term of this line at its sole discretion. Currently the bank has assigned an additional premium of 3%. This rate was a floating rate and was assigned at the discretion of the bank. MAB-Z continued to try to renegotiate the terms of this loan. As of December 31, 2014, MAB-Z reflected the entire amount in current liabilities. MAB-Z expensed $110,862 for interest on this loan and the associated overdraft line of credit for the year ended December 31, 2014. The interest charged on the loan in the amount of $110,862 consisted of $74,652 of standard loan interest and $36,210 of overdraft interest. MAB-Z paid $104,870 in interest during the year ended December 31, 2014, most of which was reclassified as overdraft, leaving an interest payable balance of $5,991. The overdrawn account as of December 28, 2014 amounted to $378,489. MAB-Z recorded all of the default interest and fees related to this loan as described above, and carry the $35,000 balance of the loan as a liability. Since the security on the loan agreement called for unlimited guarantees by the shareholders, which was MAB-C as it owned 100% of MAB-Z, by virtue of the 49% investment the Company had recognized the $413,489 as a liability on their balance sheet as guarantor in accordance with ASC 460-10. The Company believed that the other guarantors of this debt would be sufficient to cover any outstanding obligation prior to the financial institution asserting any claims for the debt owed by the shareholders of MAB-Z. As a result of the transfer of the 49% interest in MAB-C to another company, the $413,489 guaranty was converted to equity as the Company no longer guaranteed the repayment of any debt associated with the securitized loan. This current overdraft position puts MAB-Z in default of that obligation which it continued to aggressively renegotiate.

Securitized Loans

6 Months Ended

Jun. 30, 2015

16. Securitized Loans

Prior to deconsolidation as discussed in Note 3, effective May 16, 2013 MAB-Z entered into a one year securitized financing short term agreement with CBZ Bank Limited in the amount of $420,000. As security under this agreement Kinsey pledged two Bell HD2045 Hydraulic Excavators appraised at a combined value of $739,000, further guaranteed by the shareholders of MAB-Z. The loan originally was to be paid in monthly installments commencing in December 2013 in the amount of $35,000 plus interest expiring on June 30, 2014 upon which time all monies were due and payable in full. The interest rate on the loan was 15% per year. Upon funding of this loan a 3% establishment fee was charged and deducted from the proceeds. MAB-Z may in the future obtain funding through securitizations and other attempts to raise capital until cash flow operations are self-sustaining in the support of continuing operations.

This agreement was subsequently modified in January 2014 to adjust the payment schedule whereby payments of $35,000 per month plus full to date interest is due and payable commencing February 2014 and will continue each month there after including interest with the last payment due January 31, 2015.

Subsequent to the restructuring, the account was over-drafted due to withdrawal of timely interest and principal payments as well as miscellaneous bank fees. The overdraft position as provided for in the agreement carries the banks minimum lending rate plus a 12% margin agreed to on the original loan upon acceptance. Additionally, as provided in our agreement this overdraft position not being previously agreed and authorized carried a penalty interest rate of an additional 10%. Additionally the bank reserved the right to increase or change the minimum rate during the term of this line at its sole discretion.

Currently the bank has assigned an additional premium of 3%. This rate was a floating rate and was assigned at the discretion of the bank. MAB-Z continued to try to renegotiate the terms of this loan.

As of December 31, 2014, MAB-Z reflected the entire amount in current liabilities. MAB-Z expensed $110,862 for interest on this loan and the associated overdraft line of credit for the year ended December 31, 2014. The interest charged on the loan in the amount of $110,862 consisted of $74,652 of standard loan interest and $36,210 of overdraft interest. MAB-Z paid $104,870 in interest during the year ended December 31, 2014, most of which was reclassified as overdraft, leaving an interest payable balance of $5,991.

The overdrawn account as of December 28, 2014 amounted to $378,489. MAB-Z recorded all of the default interest and fees related to this loan as described above, and carry the $35,000 balance of the loan as a liability. Since the security on the loan agreement called for unlimited guarantees by the shareholders, which was MAB-C as it owned 100% of MAB-Z, by virtue of the 49% investment the Company had recognized the $413,489 as a liability on their balance sheet as guarantor in accordance with ASC 460-10. The Company believed that the other guarantors of this debt would be sufficient to cover any outstanding obligation prior to the financial institution asserting any claims for the debt owed by the shareholders of MAB-Z. As a result of the transfer of the 49% interest in MAB-C to another company, the $413,489 guaranty was converted to equity as the Company no longer guaranteed the repayment of any debt associated with the securitized loan.

This current overdraft position puts MAB-Z in default of that obligation which it continued to aggressively renegotiate.