Note 10. Notes Payable

The notes payable consisted of the following as of July 31, 2015 and July 31, 2014:

	July 31, 2015		July 31, 2014
Note payable (Auto)	$	61,397	$	74,713
Note payable (Primary note)		50,000		-
		111,397		74,713
Less current portion		(65,688)		(15,735)
Long-term note payable	$	45,709	$	58,978

The automobile note payable is secured by the Company’s automobile and bears interest at 3.99% per annum with a maturity date of October 9, 2019. The Company’s monthly payment under the automobile note is $1,336 until maturity.

The primary note payable to an employee, which was entered into on May 12, 2015, bears interest at 5% interest per 30 days. The entire principal balance together with accrued interest are due on the maturity date of January 7, 2016.

The future minimum payments under notes payable as July 31, 2015 are as follows:

Year Ending July 31:
2016	$	65,688
2017		16,032
2018		16,032
2019		13,646
Total		111,397