Annual report pursuant to Section 13 and 15(d)

Note 6 - Notes Payable (Tables)

v3.19.1
Note 6 - Notes Payable (Tables)
12 Months Ended
Dec. 31, 2018
Notes Tables  
Schedule of Long-term Debt Instruments [Table Text Block]
   
Interest Rate
   
Related Party
   
Non-Related Party
   
Total
 
   
Initial
   
Post-Maturity
   
Principal
   
Interest
   
Principal
   
Interest
   
Principal
   
Interest
 
First Note
   
8.25
%
   
12.00%
 
  $
5,000,000
     
 
    $
     
 
    $
5,000,000
     
 
 
Second Note
   
8.25
%
   
12.00%
 
   
1,900,000
     
 
     
     
 
     
1,900,000
     
 
 
Third Note
   
10.00
%
   
10.00%
 
   
250,000
     
 
     
250,000
     
 
     
500,000
     
 
 
Fourth Note
   
10.00
%
   
10.00%
 
   
1,272,000
     
 
     
1,728,000
     
 
     
3,000,000
     
 
 
Total
   
 
     
 
    $
8,422,000
    $
1,160,555
    $
1,978,000
    $
126,529
    $
10,400,000
    $
1,287,084
 
Unamortized Discount
   
 
     
 
     
     
     
(193,024
)
   
     
(193,024
)
   
 
Total, Net
   
 
     
 
    $
8,422,000
    $
1,160,555
    $
1,784,976
    $
126,529
    $
10,206,976
    $
1,287,084
 
   
Interest Rate
   
Related Party
   
Non-Related Party
   
Total
 
   
Initial
   
Post-Maturity
   
Principal
   
Interest
   
Principal
   
Interest
   
Principal
   
Interest
 
First Note
   
8.25
%
   
12.00%
 
  $
5,000,000
     
 
    $
     
 
    $
5,000,000
     
 
 
Second Note
   
8.25
%
   
12.00%
 
   
1,025,000
     
 
     
     
 
     
1,025,000
     
 
 
Total
   
 
     
 
    $
6,025,000
    $
295,830
    $
    $
    $
6,025,000
    $
295,830
 
   
Interest Rate
   
Related Party
   
Non-Related Party
   
Total
 
   
Initial
   
Post-Maturity
   
Principal
   
Interest
   
Principal
   
Interest
   
Principal
   
Interest
 
Fifth Note
   
10.00
%
   
10.00%
 
  $
125,000
     
 
    $
560,000
     
 
    $
685,000
     
 
 
Total
   
 
     
 
    $
125,000
    $
2,164
    $
560,000
    $
7,275
    $
685,000
    $
9,439
 
Unamortized Discount
   
 
     
 
     
(59,521
)
   
     
(266,432
)
   
     
(325,953
)
   
 
Total, Net
   
 
     
 
    $
65,479
    $
2,164
    $
293,568
    $
7,275
    $
359,047
    $
9,439