| Schedule of debt |
In
August 2016, the note and all accrued interest was paid by an offset to trade accounts receivable from the note holder.
| |
|
September
30,
2016 |
|
|
December
31,
2015 |
|
| June 2011
Note - In Default |
|
$ |
— |
|
|
$ |
68,000 |
|
| |
|
|
|
|
|
|
|
|
| Convertible notes
payable, interest at 8% per annum, $400,000 principal payment due December 31, 2016, remaining unpaid principal and interest
due August 20, 2018 and September 29, 2019, convertible into common stock at the option of the lenders at a rate ranging from
$.70 to $1.10 per share |
|
|
1,500,000 |
|
|
|
1,250,000 |
|
| Debt discount (see
Note 13) |
|
|
(16,800 |
) |
|
|
(16,600 |
) |
| |
|
|
|
|
|
|
|
|
| Note payable dated
October 13, 2015, interest at 8% per annum, payable in 24 monthly installments of principal and interest $4,523, due October
1, 2017. Secured by certain assets of SEM and guaranteed by SEER and MV |
|
|
56,100 |
|
|
|
92,300 |
|
| |
|
|
|
|
|
|
|
|
| Note payable dated
October 13, 2015, interest at 8% per annum, payable in 60 monthly installments of principal and interest $4,562, due October
1, 2020. Secured by real estate and other assets of SEM and guaranteed by SEER and MV |
|
|
190,200 |
|
|
|
218,900 |
|
| |
|
|
|
|
|
|
|
|
| Note payable insurance
premium financing, interest at 4.25% per annum, payable in 10 installments of $28,417, due November 1, 2016 |
|
|
56,500 |
|
|
|
— |
|
| |
|
|
|
|
|
|
|
|
| Short term note payable
dated August 23, 2016 due October 23, 2016. Interest is $10,000 for the first two weeks and $1,000 per week thereafter. Note
is secured by certain trade accounts receivables. (Note was paid in October 2016) |
|
|
200,000 |
|
|
|
— |
|
| |
|
|
|
|
|
|
|
|
| Capital
lease obligations, secured by certain assets, maturing through March 2019 |
|
|
136,200 |
|
|
|
208,900 |
|
| Total
notes payable and capital lease obligations |
|
|
2,122,200 |
|
|
|
1,821,500 |
|
| Less: current
portion |
|
|
(825,500 |
) |
|
|
(660,100 |
) |
| Notes
payable and capital lease obligations, long-term, including debt discount |
|
$ |
1,296,700 |
|
|
$ |
1,161,400 |
|
|