Note 10 - Commitments and Contingencies

9 Months Ended

Sep. 30, 2017

Notes to Financial Statements

Commitments and Contingencies Disclosure [Text Block]

NOTE

10

– COMMITMENTS AND CONTINGENCIES

Our

$21,475,002

of in

debtedness includes accrued interest of

$4,519,540,

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

$16,579,050

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	12/31/17	$	247,627
Note Payable - Related Party	12/31/17	$	601,500
Note Payable	6/30/2016	$	9,675,000
Note Payable	9/21/2018	$	308,501
Convertible Notes - Short Term		$	885,207
Convertible Notes	Q1 2018	$	62,040
Convertible Notes	Q2 2018	$	463,572
Convertible Notes	Q3 2018	$	90,200
Convertible Notes	Q4 2018	$	1,600
Convertible Notes	Q1 2019	$	566,475
Convertible Notes	Q2 2019	$	357,000
Convertible Notes	Q3 2019	$	603,818
Convertible Notes	Q4 2019	$	6,197
Convertible Notes Related Party	12/31/18	$	1,388,122
Convertible Notes Related Party	Q2 2018	$	100,000
Convertible Notes Related Party	Q4 2018	$	450,000
Convertible Notes Related Party	Q1 2019	$	500,000
Convertible Notes Related Party	Q4 2018	$	48,000
Convertible Notes Related Party		$	224,191
		$	16,579,050