| Schedule of debt |
Debt as of June 30, 2014 and December 31, 2013,
was comprised of the following:
| |
|
2014 |
|
2013 |
| |
|
|
|
|
| June 2011 Note (See above) |
|
$ |
68,000 |
|
|
$ |
68,000 |
|
| |
|
|
|
|
|
|
|
|
| Note payable dated February 2012 (see above), interest at 5% per annum, $112,500 is due December 31, 2014, convertible in whole or in part to common stock at $.50 per share. |
|
|
225,000 |
|
|
|
225,000 |
|
| |
|
|
|
|
|
|
|
|
| Promissory note dated December 2009, unsecured, bearing interest at 6% per annum, six monthly payments ranging from $10,000 to $25,000 commencing February 2010, balloon payment for outstanding balance due July 2010. The promissory note was in default as of December 31, 2013 and was paid in full as of June 30, 2014 |
|
|
— |
|
|
|
104,200 |
|
| |
|
|
|
|
|
|
|
|
| Capital lease obligations, secured by certain assets, maturing September 2011 through August 2016 |
|
|
106,800 |
|
|
|
155,600 |
|
| Total notes payable and capital lease obligations |
|
|
399,800 |
|
|
|
552,800 |
|
| |
|
|
|
|
|
|
|
|
| Less: current portion, including debt discount |
|
|
(383,300 |
) |
|
|
(504,700 |
) |
| Notes payable and capital lease obligations, long-term |
|
$ |
16,500 |
|
|
$ |
48,100 |
|
|