Annual report pursuant to Section 13 and 15(d)

Note 8 - Notes Payable (Tables)

v2.4.1.9
Note 8 - Notes Payable (Tables)
12 Months Ended
Dec. 31, 2014
Tables/Schedules  
Schedule of Debt

 

Notes payable consist of the following for the periods ended;

12/31/2014

12/31/2013

 

 

 

Promissory note from a related party dated December 30, 2013 with an interest rate stated at 8%. Interest and principal due at maturity December 30, 2014.

$0

$9,000

 

 

 

Promissory note from a related party dated December 30, 2013 with an interest rate stated at 8%. Interest and principal due at maturity December 30, 2014.

0

3000

`

 

 

Promissory note from a related party issued as working capital advances during 2014 with an interest rate stated at 0%. This note is due on demand.

80,894

0

 

 

 

Promissory note from a related party dated December 30, 2013 with an interest rate stated at 8%. Interest and principal due at maturity December 30, 2014.

0

750

 

 

 

Note dated June 22, 2014 with an interest rate stated at 4%. This note is convertible into 270,000 shares of common stock.

135,000

0

 

 

 

Total Notes Payable

215,894

12,750

 

 

 

Less Current Portion

215,894

12,750

 

 

 

Long Term Notes Payable

$0

$0

 

 

 

All are classified as short term by the Company. Accrued interest on these notes totaled.

$0

$16,488