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Note 7 - Notes and Leases Payable
 6 Months Ended 12 Months Ended
Jun. 30, 2018
Dec. 31, 2017
Notes to Financial Statements    
Debt Disclosure [Text Block]
NOTE
6
 - 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)
On
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
48
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.
NOTE
7
- NOTES AND LEASES PAYABLE
 
Notes payable at
December 31, 2017
and
2016
consist of the following:
 
   
December 31,
  
   
2017
    
2016
  
                 
Note payable for equipment, payable $1,339 monthly, including interest (a)
   $
13,073
     $
28,033
  
Note payable for mine site vehicle, payable $628 monthly (b)
    
- 0 -
      
5,655
  
Note payable to insurance companies, payable $5,045 - $17,959 monthly, (c) and (d)
    
199,061
      
213,534
  
     
212,134
      
247,222
  
Less: Current Portion
    
(212,134
)
    
(234,149
)
Notes Payable, Long-Term Portion
   $
- 0 -
     $
13,073
  
 
 
(a)
On
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
48
months, which started on
November 30, 2014.
 
(b)
On
September 20, 2012,
the Company purchased a vehicle for the mine site for
$37,701
by issuing a non-interest bearing note. The note is collateralized by the vehicle with payments of
$628
for
60
months, which started on
October 20, 2012.
 
(c)
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%
 
(d)
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
2017
and
2016,
the Company's interest payments totaled
$6,365
and
$4,956,
respectively.