11.

NOTES PAYABLE,

Notes payable consists of the following as of December 31, 2015:

Promissory note payable, secured by vehicle underlying loan having carrying value of $17,760 at December 31, 2014, bearing interest at 1.9% per annum, due in monthly principal and interest payments of $523, maturing on December 5, 2017.	$	12,232

Less amounts due within one year		6,099

Long-term portion of notes payable	$	6,133

As of December 31, 2015, principal payments on the notes payable are as follows:

2016	$	6,099
2017		6,133
2018		—
2019		—
2020		—
Thereafter		—
	$	12,232

The unsecured note payable in the table below in the December 31, 2014, note payable balance resulted from conversion of a vendor payable dating back to February 2011. The note payable was restructured once in June 2012 to reduce the monthly payments and to extend the maturity.

Notes payable consists of the following as of December 31, 2014:

Promissory note payable, unsecured, bearing interest at 5% simple interest per annum, due in weekly principal and interest payments of $250, maturing on March 10, 2015.	$	2,764

Promissory note payable, secured by vehicle underlying loan having carrying value of $17,760 at December 31, 2014, bearing interest at 1.9% per annum, due in monthly principal and interest payments of $523, maturing on December 5, 2017.		18,216
		20,980

Less amounts due within one year		8,749

Long-term portion of notes payable	$	12,231