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COMMITMENTS AND CONTINGENCIES (Tables)
12 Months Ended
Dec. 31, 2017
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Future Minimum Rental Payments

Future minimum lease commitments due for facilities leases under operating leases at December 31, 2017 are as follows, if the Company completes all of the separate six-month terms:


2018

 

 $

142,343

 

2019

 

 

147,986

 

2020

 

 

37,353

 

Total minimum lease payments

 

$

327,682

 

Schedule of Sales Commission Percentages

In addition, under the original agreement, RAW or its affiliates were entitled to sales commissions for any sales of products generated within Basalt America’s Licensed Territory they solicit by their own initiative from bona fide third parties that become new customers. Sales commissions would be paid according to the following commission schedule:


RAW generated sales within the Licensed Territory

 

RAW Commission

Up to $1,000,000

 

5%

$1,000,001 to $2,000,000

 

4%

$2,000,001 to $3,000,000

 

3%

$3,000,001 to $4,000,000

 

2%

$4,000,001 +

 

1%

Schedule of Remaining Obligations from Business Acquisition

The obligations are outlined below:


Description

 

$ Obligation

 

Date Met

License Option Fee

 

   500,000

 

1st Qtr 2017

Finished Inventory

 

   400,000

 

1st Qtr 2017

Raw Materials, Misc

 

     60,000

 

1st Qtr 2017

Equipment, Misc tools

 

     50,000

 

2nd Qtr 2017

Rebar Mfg Machines

 

   400,000

 

2nd Qtr 2017

Addl Rebar Mfg Machines

 

1,600,000

 

3rd & 4th Qtr 2017and 1st Qtr. 2018- partially met