| Notes Payable |
| |
|
2015 |
|
2014 |
| |
|
|
|
|
|
|
|
|
| Convertible Notes Payable |
|
|
|
|
|
|
|
|
| Convertible notes payable (includes $138,120 and $130,898, respectively, to non-related parties), unsecured, interest at 8%, due September 2010 through November 2010. The principal and accrued interest is convertible at a conversion price of $0.30. The principal and interest is due immediately on the event of default or change of control. The notes are currently in default. |
|
$ |
759,763 |
|
|
$ |
720,302 |
|
| |
|
|
|
|
|
|
|
|
| Convertible notes payable to related parties, unsecured, principal and interest are convertible into common stock at $0.30 to $0.33 per share, interest at 8% to 10%, due on demand to November 2010. The notes are currently in default. |
|
|
1,414,260 |
|
|
|
1,017,435 |
|
| |
|
|
|
|
|
|
|
|
| Convertible note payable to related party, secured by the Company’s intellectual property, principal and interest are convertible into common stock at $0.25 per share subject to board of directors’ approval, interest at 8%. The note was due November 2010 and is now in default. |
|
|
290,871 |
|
|
|
274,871 |
|
| |
|
|
|
|
|
|
|
|
| Botes payable, secured by the Company's certificate of deposit with a financial institution and classified on the balance sheet as restricted cash, interest at 5%, convertible into common stock at $0.08 per share, due on demand |
|
|
33,688 |
|
|
|
32,215 |
|
| |
|
|
|
|
|
|
|
|
| Convertible note payable, unsecured, principal and interest are convertible into common stock at $0.30 to $0.40 per share subject to board of directors’ approval, interest at 5% to 8%, due January 2011 to March 2013. |
|
|
14,385 |
|
|
|
13,586 |
|
| |
|
|
|
|
|
|
|
|
| Convertible note payable, unsecured, principal and interest are convertible into common stock at $1.00 per share subject to board of directors’ approval, interest at 8%. The note was paid in full. |
|
|
— |
|
|
|
1,766 |
|
| Subtotal convertible notes |
|
|
2,512,967 |
|
|
|
2,150,175 |
|
| |
|
|
|
|
|
|
|
|
| Promissory Notes |
|
|
|
|
|
|
|
|
| Note payable to related party, secured by the Company’s intellectual property, interest at 8% due August 2010 and is now in default. |
|
|
564,058 |
|
|
|
533,318 |
|
| |
|
|
|
|
|
|
|
|
| Notes payable to related parties, unsecured, interest at 0% to 8%, due on demand. |
|
|
150,430 |
|
|
|
142,430 |
|
| |
|
|
|
|
|
|
|
|
| Note payable, unsecured, interest at 10%. The note was due in January 2010 and is now in default |
|
|
31,783 |
|
|
|
29,167 |
|
| |
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
| Note payable, secured by the Company's intellectual property, interest at variable rates starting September 1, 2012, due December 2012 and is now in default. |
|
|
303,469 |
|
|
|
287,129 |
|
| Subtotal notes payable |
|
|
1,049,740 |
|
|
|
992,044 |
|
| |
|
|
|
|
|
|
|
|
| Total |
|
$ |
3,562,707 |
|
|
$ |
3,142,219 |
|
|