NOTES PAYABLE (Tables)

12 Months Ended

Dec. 31, 2019

Notes payable included the following as of December 31, 2019 and 2018:


	December 31,		December 31,
	2019		2018
Secured note payable issued on October 15, 2010 and refinanced in January 2015 for purchase of all membership interest, bearing interest of 6% per year and due in monthly installments ending September 25, 2022	$	—	$	180,552

Secured note payable issued August 14, 2017, bearing interest of 7.25% per year, due in monthly installments ending August 1, 2021		—		49,885

Secured finance facility issued February 2, 2017, bearing effective interest of 6%, due monthly installments ending August 20, 2020		10,573		25,960

Secured note payable issued January 2, 2018, bearing interest of 6.29% per year, due in monthly installments ending January 2023		28,000		35,561

Secured funding advance agreement issued June 27, 2018, bearing effective interest of 20%, due in daily installments ending April 2019, principal balance $143,965, net of deferred financing costs of $43,412		—		143,965

Secured note payable issued to a shareholder who controls approximately 8.8% of votes December 7, 2018, bearing interest of 10% per year, due one year after issuance, principal balance $100,000, net of deferred financing costs of $65,446		100,000		100,000

Secured note payable issued to a shareholder who controls approximately 7.5% of votes December 7, 2018, bearing interest of 10% per year, due one year after issuance, principal balance $100,000, net of deferred financing costs of $65,446		100,000		100,000

Secured note payable issued December 7, 2018, bearing interest of 10% per year, due one year after issuance, principal balance $100,000, net of deferred financing costs of $65,446		100,000		100,000

Secured note payable issued on December 7, 2018 related to the acquisition of Momentum Water Transfer Services LLC, bearing interest of 6% per year and due in monthly installments of $7,500, with a maturity date of December 8, 2023		792,470		800,000

Secured note payable issued to a shareholder who controls approximately 8.8% of votes May 1, 2019, bearing interest of 10% per year, due July 1, 2019, principal balance $100,000. Note was extended to March 30, 2020.		100,000		—

Secured note payable issued to a shareholder who controls approximately 8.8% of votes May 1, 2019, bearing interest of 10% per year, due September 30, 2019.		80,000		—

Secured note payable issued to a shareholder who controls approximately 8.8% of votes December 12, 2019, bearing interest of 12% per year, due June 3, 2020.		50,000		—

Various notes payable secured by equipment of Big Vehicle & Equipment Company, LLC, bearing interest ranging from 2.72% to 8% maturing through August 2023.		638,859		—

Secured note payable issued September 20, 2019, bearing interest of 12% per year, due in monthly installments ending December 2019.		200,000		—

Secured note payable issued November 1, 2019, bearing interest of 18% per year, due in monthly installments ending April 2020.		747,500

Secured note payable issued July 26, 2019, bearing interest of 7% per year, due in monthly installments ending July 2020		123,818		—

Notes payable - secured		3,071,220		1,535,924
Less discounts		(242,655)		(239,750)
Less current portion		(1,692,775)		(328,328)

Notes payable - secured, net of current portion	$	1,135,790	$	967,846

Schedule of future maturities of secured notes payable

On June 27, 2018, the Company re-financed and paid off a prior liability due to a funding company. The new facility had an original principal balance of $347,500. Payments of principal and interest are paid daily. This note matured in May 2019 and was paid in full. During the year ended December 31, 2019, $43,411 of debt discount was amortized to interest expense.

Future maturities of debt as of December 31, 2019 are as follows:


2020	$	1,935,430
2021		284,306
2022		222,613
2023		628,871
2024		—
Total	$	3,071,220

Unsecured Debt [Member]

NOTES PAYABLE

Schedule of notes payable

Notes Payable – Unsecured


	December 31,		December 31,
	2019		2018

Financed insurance premium, Note Payable issued on June 8, 2018, bearing interest of 6.5% per year and due in monthly installments ending April 1, 2019	$	—	$	31,126

Financed insurance premium, Note Payable issued on October 2, 2019, bearing interest of 5.5% per year and due in monthly installments ending July 31, 2020		75,576		—

Unsecured note payable with a shareholder who controls approximately 7.5% of votes. Note issued on August 10, 2018 for $40.000, due December 30, 2018 (extended to June 30, 2020) and 10% interest per year, balance of payable is due on demand. Additional $25,000 advanced and due on demand		44,559		65,000

Unsecured advances from the sellers of Momentum Water Transfer Services LLC, non-interest bearing and due on demand		35,000		35,000

Unsecured note with vendor, issued a $135,375 10% promissory note due at October 30, 2019. The note was issued in exchange for of settlement of accounts payable.		85,375		—

Financed insurance premium, Note Payable issued on October 1, 2019, bearing interest of 6.5% per year and due in monthly installments ending July 28, 2020		73,554		—

Notes payable - unsecured		314,064		131,126
Less discount		(3,185)		—
		310,879		131,126

Less current portion		(310,879)		(131,126)

Notes payable - unsecured, net of current portion	$	—	$	—