Note 10 - Commitment and Contingencies

6 Months Ended

Jun. 30, 2017

Notes to Financial Statements

Commitments and Contingencies Disclosure [Text Block]

NOTE

10

– COMMITMENT AND CONTINGENCIES

Our

$19,019,628

of indebtedness includes accrued interest of

$3,949,113

as well as notes payable, notes payable to related parties, convertible notes and convertible notes to related parties totaling

$15,070,515

with maturity dates as outlined below. We are in default of

$9,675,000

of debt that is secured by certain equipment that we value at approximately

$10,533.

We expect our operating and administrative expenses to be at least

$2,400,000

annually. The convertible notes are due

2

years from issuance with notes maturing in

2018

and

2019.

Description	Maturity Date	Amount
Note Payable - Related Party	December 31, 2017	$	246,134
Note Payable - Related Party	December 31, 2017		601,500
Note Payable	June 30, 2016		9,675,000
Note Payable	September 21, 2018		296,681
Convertible Notes	1st Quarter 2018		535,612
Convertible Notes	2nd Quarter 2018		314,391
Convertible Notes	3rd Quarter 2018		541,600
Convertible Notes	4th Quarter 2018		1,066,475
Convertible Notes	1st Quarter 2019		405,000
Convertible Notes - Related Parties	August 17, 2018		1,388,122
Total		$	15,070,515

 ;

We intend to fund our expenses through the issuance and sale of additional securities. We do

not

have any commitments from any persons to purchase any securities and there can be

no

assurance that we will be able to raise sufficient funds to pay our liabilities as they become due and payable.