Note 6 - Notes and Leases Payable

6 Months Ended

Jun. 30, 2018

Notes to Financial Statements

Debt Disclosure [Text Block]

NOTE

- NOTES AND LEASES PAYABLE

Notes payable at

June 30, 2018

and

December 31, 2017:

	June 30,			December 31,
	2018			2017

Note payable for equipment, payable $1,339 monthly, including interest (a)	$	6,605		$	13,073
Note payable to insurance companies, payable $5,045 - $17,959 monthly, (b) and (c)		59,810			199,061
		66.415			212,134
Less: Current Portion		(66,415	)		(212,134	)
Notes Payable, Long-Term Portion	$	- 0 -		$	- 0 -

(a)

October 31, 2014,

the Company purchased mining equipment for

$65,120

by paying deposit and issuing a note in the amount of

$57,900

with an interest rate of

5.2%.

The note is collateralized by the mining equipment with payments of

$1,339

for

months, which started on

November 30, 2014.

(b)

The Company signed a note payable with an insurance company dated

October 17, 2016

for liability insurance, payable in monthly installments, including interest ranging from

2.6%

4.15%

(c)

The Company signed a note payable with an insurance company dated

October 17, 2017

for liability insurance, payable in monthly installments, including interest ranging from

3.1%

5.78%

During the

three

months ended

June 30, 2018

and

2017,

the Company's interest payments totaled

$705

and

$1,216,

respectively. During the

six

months ended

June 30, 2018

and

2017,

the Company’s interest payments totaled

$6,206

and

$2,743,

respectively.