| Summary of notes payable |
| |
|
|
December
31 |
|
|
December
31 |
|
| |
|
|
2018
|
|
|
2017
|
|
| |
|
|
|
|
|
|
|
| (1) |
Note
payable bearing interest at 12.0% per annum, due December 31, 2019 |
|
$ |
106,000 |
|
|
$ |
106,000 |
|
| (2) |
Note
bearing interest at 8% per annum, in default |
|
|
494,000 |
|
|
|
471,000 |
|
| (3) |
Non-interest
bearing note, in default |
|
|
10,000 |
|
|
|
10,000 |
|
| (4) |
Related
Party Long term debt, bearing interest at 8%, due April 15, 2021 |
|
|
92,000 |
|
|
|
- |
|
| (5) |
Related
Party Convertible Promissory notes, bearing interest at 8 - 18%, due December 31, 2019 |
|
|
714,000 |
|
|
|
657,000 |
|
| (6) |
Stockholder
Convertible notes bearing interest at 18% |
|
|
- |
|
|
|
217,000 |
|
| |
|
|
|
1,416,000 |
|
|
|
1,461,000 |
|
| |
Less
current maturities |
|
|
(1,361,000 |
) |
|
|
(1,461,000 |
) |
| |
|
|
|
|
|
|
|
|
|
| |
Total
Long-term debt |
|
$ |
55,000 |
|
|
$ |
- |
|
| Total
future minimum payments due on long-term debt as of December 31, 2018: |
|
|
|
| 2019 |
|
|
1,361,000 |
|
| 2020 |
|
|
42,000 |
|
| 2021 |
|
|
13,000 |
|
| |
|
|
1,416,000 |
|
|