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Note 7 - Notes and Loans Payable: Schedule of Notes and Loans Payable Text Block (Tables)
3 Months Ended
Mar. 31, 2018
Tables/Schedules  
Schedule of Notes and Loans Payable Text Block

 

Notes and loans payable consist of:

 

 

 

 

 

March 31,

 2018

 

December 31,

 2017

 

 

 

 

 

Convertible notes payable to lender dated from March 15, 2016 (as amended June 2, 2016) to November 15, 2017, interest at rates ranging from 12% to 14.99% per annum, due from April 6, 2017 to May 15, 2018, partially converted at March 22, 2017 and the remaining notes convertible into Common Stock at a Conversion Price equal to the lesser of (i) $0.01 per share or (ii) 50% of the lowest Closing Bid Price of the Common Stock for the 30 Trading Days preceding the Conversion Date – net of

        unamortized debt discount of $373 and $1,815, respectively  

 

           38,127

 

           36,685

 

 

 

 

 

Convertible notes payable to lender dated February 1, 2016 (as amended

        December 21, 2016) and December 21, 2016, interest at 12% per

        annum, due February 1, 2017 and May 20, 2017, convertible into

        Common Stock at a Conversion Price equal to the lesser of (i) $0.01 per

        share or (ii) 50% of the lowest Closing Bid Price of the Common Stock

        for the 30 Trading Days preceding the Conversion Date – net of

        unamortized debt discount of $0 and $0, respectively    

 

           65,000

 

           65,000

 

 

 

 

 

Convertible notes payable to Pasquale and Rosemary Ferro dated from

        May 2, 2017 to January 8, 2018, interest at 12% per annum, due from

        September 16, 2017 to May 7, 2018, convertible into Common Stock at a

        Conversion Price equal to the lesser of (i) $0.01 per share or (ii) 50% of

        the lowest Closing Bid Price of the Common Stock for the 30 Trading

        Days preceding the Conversion Date – net of unamortized debt discount

        of $8,755 and $19,613, respectively    

 

           94,745

 

           73,887

 

 

 

 

 

Convertible note payable to lender dated August 8, 2017 interest at 12% per

        annum, due August 8, 2018, convertible into Common Stock at a

        Conversion Price equal to the lesser of (i) $0.01 per share or (ii) 50% of

        the lowest Closing Bid Price of the Common Stock for the 30 Trading

        Days preceding the Conversion Date – net of unamortized debt discount

        of $8,904 and $15,068, respectively    

 

           16,096

 

             9,932

 

 

 

 

 

Note payable to brother of Marco Alfonsi, Chief Executive Officer of the Company, interest at 10% per annum, due August 22, 2016 (now past due)

 

             5,000

 

             5,000

 

 

 

 

 

Note payable to Carl Dilley, a director of the Company, interest at 12.99% per annum, due February 1, 2021

 

           15,000

 

                    -

 

 

 

 

 

Loan payable to Mckenzie Webster Limited (“MWL”), an entity controlled by the former Chairman of the Board of Directors of the Company, non-interest bearing, due on demand

 

             3,000

 

             3,000

Total

 

   $    236,968

 

   $    193,504