Note 9 - Loans Payable

12 Months Ended

Dec. 31, 2018

Notes to Financial Statements

Short-term Debt [Text Block]

NOTE

9

– LOANS PAYABLE

Loans payable consist of the following at

December 31:

	2018		2017
Loan payable to Global Holdings International, LLC, which bears interest at 15% per annum after defaulting on the maturity date of June 30, 2016. This note is secured by the Company's equipment.	$	9,675,000	$	9,675,000
Mortgage payable in default to ARG & Pals, Inc., for the original amount of CAD $385,000. The mortgage bears interest at 22% per annum, and matured on November 21, 2018.		282,205		306,883
Loan payable in default to an individual, issued January 17, 2018 with a 30-day maturity, bearing share interest of 2,000 common shares per 30-day period. This is an unsecured loan which matured on January 16, 2019.		50,000		-
Loan payable in default to an individual, issued April 13, 2018, with a 30-day maturity, bearing share interest of 4,000 common shares per 30-day period. This is an unsecured loan which matured on March 16, 2019.		100,000		-
Total loans payable (all current)	$	10,107,205	$	9,981,883

We are in default of

$9,675,000

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

$9,000.

The remainder of our debt that is in default is

not

secured.

During

2018,

interest in the form of

76,400

common shares were issued to individuals in connection with interest terms of the above loans and related loan extensions made to CEN. Accordingly,

$54,388

in interest expense and additional paid-in capital was recorded.

No

such common shares were issued during

2017.