Note 12 - Convertible Notes - Related Party

12 Months Ended

Dec. 31, 2017

Notes to Financial Statements

Long-term Convertible Notes Related Party [Text Block]

NOTE

1

2

– CONVERTIBLE NOTES - RELATED PARTY

Convertible notes - related party consists of the following at

December 31:

	2017		2016
Convertible note due to Bill Chaaban, President of CEN, which bears an interest at 12% per annum. This note is convertible to 871,576 common shares with a maturity date of December 31, 2018.	$	1,388,122	$	1,388,122
Convertible notes due to Harold Aubrey de Lavenu, a Director of CEN, bearing interest at 5% per annum. This note is convertible to 550,000 common shares with maturity dates between May 2018 and Feb 2019.		1,050,000		550,000
Convertible note due to Alex Tarrabain, a Director of CEN, bearing interest at 5% per annum. This note is convertible to 30,000 common shares with a maturity date of October 26, 2018.		48,000		48,000
Convertible notes due to Joseph Byrne, CEO of CEN, bearing interest at 12% per annum. This note is convertible to 140,120 common shares with a maturity date of August 17, 2018.		224,191		224,191
Total convertible notes payable - related party		2,710,313		2,210,313
Less current portion		2,210,313		-
Convertible notes payable - related party, less current portion	$	500,000	$	2,210,313

Accrued interest was

$344,801

and

$98,472

as of

December 31, 2017

and

2016,

respectively. Interest expense attributable to related party convertible notes was

$246,247

and

$172,433

in

2017

and

2016,

respectively.

These notes

may

be converted at the option of the note holder at any time after registration of CEN’s common stock upon written notice by the note holder. As of

December 31, 2017,

these notes are convertible into a total of

1,591,696

common shares.