Annual report pursuant to Section 13 and 15(d)

NOTE 4: RELATED PARTY TRANSACTIONS (Tables)

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NOTE 4: RELATED PARTY TRANSACTIONS (Tables)
12 Months Ended
Dec. 31, 2018
Related Party Transactions [Abstract]  
Schedule of Related Party Transactions [Table Text Block]
Outstanding notes payable and convertible notes payable to related parties consisted of the following as of December 31, 2018 and 2017:

   

December 31,

 

Name

 

2018

   

2017

 

Convertible Debt:

               

Convertible notes payable, interest at 12%, convertible at $0.08 per share, unsecured, due May 25, 2019

  $ 1,452,566     $ 2,987,473  

Convertible note payable, interest at 12%, convertible at $0.12 per share, unsecured, due between May 25, 2019 and August 1, 2019

    1,630,073       1,630,073  

Convertible notes payable, interest at 12%, convertible at $0.15 per share, unsecured, due between May 25, 2019 and March 31, 2020

    1,799,742       1,799,742  

Convertible notes payable, interest at 12%, convertible at $0.06 per share, unsecured, due between April 20, 2020 and December 27, 2020

    4,804,800       2,520,000  

    Total

    9,687,181       8,937,288  

Less: short-term debt

    (4,520,404

)

    (4,861,655

)

  Total long-term debt

    5,166,777       4,075,633  

Less: Long-term unamortized discounts

    (3,293,989

)

    (2,582,075

)

    Net long-term debt

  $ 1,872,788     $ 1,493,588  
                 

Nonconvertible Debt:

               

Notes payable, no interest, unsecured, due upon demand

  $ 86,600     $ 50,000  

    Total

  $ 86,600     $ 50,000  
Schedule of Maturities of Long-term Debt [Table Text Block]
Principal payments on debt to related parties for each of the following five years is as follows:

2019

  $ 4,746,981  

2020

    2,742,000  

2021

    2,284,800  

2022

    -  

2023

    -  

Thereafter

    -  

Total

  $ 9,773,781