Annual report pursuant to Section 13 and 15(d)

Note 4 - Debentures and Notes Payable (Tables)

v3.20.1
Note 4 - Debentures and Notes Payable (Tables)
12 Months Ended
Dec. 31, 2019
Notes Tables  
Schedule of Long-term Debt Instruments [Table Text Block]
   
December 31,
   
December 31,
 
   
2019
   
201
8
 
Notes and debentures payable:
 
 
 
 
 
 
 
 
6.30% Insurance premium finance agreement due July 2020
  $
39,138
    $
-
 
6.05% Insurance premium finance agreement due July 2019
   
-
     
31,089
 
4.75% Convertible debenture due September 2019
   
-
     
63,675
 
Total notes and debentures payable
 
$
39,138
   
$
94,764
 
                 
Notes payable - related party:
 
 
 
 
 
 
 
 
10% Promissory note due January 2024
  $
475,000
    $
-
 
Less:
               
Beneficial conversion feature
   
(273,422
)    
-
 
Warrants issued
   
(59,108
)    
-
 
Debt issue costs
   
(21,962
)    
-
 
Net
   
120,508
     
 
 
14% Term loan due December 2019
   
-
     
374,993
 
14% Term loan due December 2019
   
-
     
621,500
 
14% Term loan due December 2019
   
-
     
400,941
 
7% Convertible promissory note due December 2019, net
   
-
     
228,627
 
7% Convertible promissory note due December 2019, net
   
-
     
76,239
 
Total notes payable - related party
 
 
120,508
   
 
1,702,300
 
Less current maturities
   
-
     
(1,702,300
)
Long-term debt
 
$
120,508
    $
-