| Schedule of debt |
Debt as of March 31, 2015 and December 31,
2014, was comprised of the following:
| |
|
2015 |
|
2014 |
| June 2011 Note (See above) |
|
$ |
68,000 |
|
|
$ |
68,000 |
|
| |
|
|
|
|
|
|
|
|
| Note payable dated February 2012, 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. (see Note 11) |
|
|
— |
|
|
|
225,000 |
|
| |
|
|
|
|
|
|
|
|
| Note payable insurance premium financing, interest at 4.25% per annum, payable in 10 installments of $27,927, due November 1, 2015 |
|
|
192,700 |
|
|
|
— |
|
| |
|
|
|
|
|
|
|
|
| Capital lease obligations, secured by certain assets, maturing through March 2019 |
|
|
304,600 |
|
|
|
130,900 |
|
| Total notes payable and capital lease obligations |
|
|
565,300 |
|
|
|
423,900 |
|
| Less: current portion, including debt discount |
|
|
(382,600 |
) |
|
|
(363,000 |
) |
| Notes payable and capital lease obligations, long-term |
|
$ |
182,700 |
|
|
$ |
60,900 |
|
|