Notes and Other Loans Payable (Tables)

3 Months Ended

Mar. 31, 2016

Debt Disclosure [Abstract]

Schedule of Non-related Party Notes and Other Loans Payable

A summary of non-related party notes and other loans payable is as follows:

	March 31, 2016		December 31, 2015
12% convertible notes payable, maturing at various dates from November 2013 through April 2016 (A)	$	39,465	$	34,558
10% convertible note payable, monthly payments commencing in December 2013 through July 2014 (B)		19,963		19,963
10% convertible notes payable maturing at various dates from May 2015 through February 2016 (C)		76,000		72,793
,
10% convertible notes payable, maturing at various dates from December 2015 through January 2016 (D)		29,303		29,223
10% convertible notes payable maturing at various dates from February 2015 through August 2015 ( F )		116,200		116,200
12% convertible notes payable, maturing at various dates from April 2015 through May 2015 ( G )		85,000		85,000
10% note payable, maturing Feb 3, 2017		50,000		50,000
10% note payable, maturing Oct. 15, 2016		7,000		-
Total non related party notes –net of discount		422,930		407,737
Less-Current Portion		422,930		357,737
Total non-current non related party	$	-	$	50,000

(A)	Notes issued net of 10% original discount along with additional discount from derivative liabilities ($3,489 unamortized at March 31, 2016). This note is in default.
(B)	Note issued net of original discount (fully amortized) Effective May 8, 2015, the Company is subject to a default judgment of approximately $175,000, plus subsequent penalty interest for non-payment of convertible debt and interest. The Company is negotiating a reduced settlement. Unpaid interest, default penalties and default interest is included in accounts payable and accrued liabilities.
(C)	Notes issued net of discount from derivative liabilities (fully amortized). At March 31, 2016, the Company held approximately 97 million shares in reserve to cover the potential conversion of this note into common stock pursuant to debt covenants. This note is in default.
(D)	Notes issued net of discount (fully amortized) This note is in default.
(F)	Notes issued net of discount from derivative liabilities (fully amortized). At March 31, 2016, the Company held 233.3 million shares in reserve to cover the potential conversion of this note into common stock pursuant to debt covenants. This note is in default.
(G)	Notes issued net of discount from derivative liabilities (fully amortized at March 31, 2015). The Company is subject to litigation judgement of approximately $150,000, plus subsequent penalty interest for non–payment. Company is seeking to arrange a settlement. Unpaid interest, default penalties and default interest is included in accounts payable and accrued liabilities.

Schedule of Related Party Notes and Other Loans Payable

A summary of related party notes and other loans payable is as follows:

	March 31, 2016		December 31, 2015
6% demand loans per Operations Agreement with Schoell Marine Inc., a company owned by Cyclone’s Chairman and controlling shareholder (A)	$	171,656	$	117,734
6% non-collateralized loans from officer and shareholder, payable on demand. The original principal balances were $157,101.		109,154		103,328
12% non-collateralized loans from officer and shareholder, payable on demand		20,179		20,178
Accrued Interest		84,522		80,094
Total current related party notes, inclusive of accrued interest	$	385,511	$	321,334

(A) This note arose from services and salaries incurred by Schoell Marine on behalf of the Company. Schoell Marine also owns the building that is leased to the Company. The Schoell Marine note bears an interest rate of 6% and repayments occur as cash flow of the Company permits. For the three months ended March 31, 2016 $500 of principal was paid on the note balance.