Convertible Debt Disclosure [Text Block] | NOTE 8: CONVERTIBLE NOTES PAYABLE The following table summarizes the convertible debt outstanding as of December 31, 2016. Principal at Carrying amount Date of Maturity Interest December 31, Short term Long term issuance date rate 2016 Related Non related Related Non related 3/26/1999 6/30/2004 10% $ 50,000 $ -0- $ 50,000 $ -0- $ -0- 8/29/2008 4/1/2018 10% 150,000 -0- -0- -0- 150,000 8/29/2008 4/1/2020 10% 1,770,000 -0- -0- 1,770,000 -0- 12/16/2008 4/1/2018 12% 200,000 -0- -0- -0- 200,000 12/16/2008 4/1/2020 12% 100,000 -0- -0- -0- 100,000 12/16/2008 4/1/2020 12% 4,055,000 -0- -0- 4,055,000 -0- 9/30/2009 4/1/2018 12% 100,000 -0- -0- -0- 100,000 9/30/2009 4/1/2020 12% 625,000 -0- -0- -0- 625,000 Total $ 7,050,000 $ -0- $ 50,000 $ 5,825,000 $ 1,175,000 The following table summarizes the convertible debt outstanding as of December 31, 2015. Principal at Carrying amount Date of Maturity Interest December 31, Short term Long term issuance date rate 2015 Related Non related Related Non related 3/26/1999 6/30/2004 10% $ 75,000 $ -0- $ 75,000 $ -0- $ -0- 8/29/2008 4/1/2017 10% 150,000 -0- -0- -0- 150,000 8/29/2008 4/1/2017 10% 1,770,000 -0- -0- 1,770,000 -0- 12/16/2008 4/1/2017 12% 260,000 -0- -0- -0- 260,000 12/16/2008 4/1/2017 12% 4,055,000 -0- -0- 4,055,000 -0- 12/16/2008 4/1/2018 12% 215,000 -0- -0- -0- 215,000 12/16/2008 4/1/2018 12% 25,000 -0- -0- 25,000 -0- 9/30/2009 4/1/2017 12% 625,000 -0- -0- -0- 625,000 9/30/2009 4/1/2018 12% 100,000 -0- -0- -0- 100,000 Total $ 7,275,000 $ -0- $ 75,000 $ 5,850,000 $ 1,350,000 10% During 1999 10% $862,500 There were costs of $119,625 $742,875. 10% June 30, 2004, $1.25 December 31, 2016, $812,500 1,495,179 $50,000. $88,210 December 31, 2016. Secured Convertible Debentures On September 30, 2009 $1,400,000 12% 5,600,000 $0.25 four four Chief Executive Officer and Director, Cornelis F. Wit (“Mr. Wit”). The Company received net proceeds of $1,400,000. 12% March 30, 2011. $0.25 On March 30, 2011 $200,000 $1,200,000 April 1, 2013, $1,100,000 Mr. Wit. The Company also extended the expiration date of the warrants associated with the September 2009 On February 22, 2013 and two $1,200,000 January 1, 2016, $1,100,000 September 2009 January 1, 2016. On January 31, 2015 $1,100,000 September 2009. 12% April 1, 2017. April 1, 2017. November 19, 2015 $475,000 1,900,000 November 19, 2015 1,900,000 $475,000 $475,000 1,900,000 November 23, 2015 $625,000 two On April 1, 2015 $100,000 to April 1, 2018. April 1, 2018. On June 30, 2016 two $625,000 April 1, 2020. April 1, 2020. Convertible Debentures August 2008 On August 29, 2008 $2,270,000 4,540,000 four Chief Executive Officer and Director, Cornelis F. Wit and one 10% August 29, 2010. $0.50 On September 30, 2009 two $1,920,000 August 29, 2013 On February 22, 2013 $1,770,000 f the convertible debentures to January 1, 2016. January 1, 2016. On February 22, 2013 $150,000 former Director, Guus van Kesteren (“Mr. van Kesteren”) to January 1, 2015. January 1, 2015. On April 21, 2014 the Company and Mr. van Kesteren, extended the maturity date of his $150,000 April 1, 2016. April 1, 2016. July 31, 2014 $150,000 On January 31, 2015 $1,770,000 April 1, 2017. April 1, 2017. On June 30, 2015 $150,000 o April 1, 2017. April 1, 2017. On June 30, 2016 $1,770,000 April 1, 2020. April 1, 2020. On June 30, 2016 $150,000 April 1, 2018. April 1, 2018. December 2008 On December 16, 2008 $5,075,000 10,150,000 eleven Chief Executive Officer and Director, Cornelis F. Wit (“Mr. Wit”), our Chief Operating Officer and President, Stephen E. Johnson (“Mr. Johnson”), our Chairman and Chief Technology Officer, Randall G. Smith (“Mr. Smith”), Chief Financial Officer, Ronald T. Linares, and four 12% December 16, 2010. $0.50 On September 30, 2009 seven $4,980,000 December 16, 2013 On February 22, 2013 $4,505,000 $4,475,000 Mr. Wit, $25,000 $5,000 January 1, 2016. January 1, 2016. On February 27, 2013 $15,000 , Matthew Veatch, to January 1, 2016. January 1, 2016. On March 6, 2013 der agreed to extend the maturity date of $200,000 January 1, 2014. January 1, 2014. On March 12, 2013 the holder agreed to extend the maturity date of $100,000 January 1, 2015. January 1, 2015. In December 2013 two agreed to extend the maturity date of $360,000, $160,000 January 1, 2016. January 1, 2016. July 31, 2014 $160,000 On April 28, 2014 the Company and the holder extended the maturity date of $100,000 December 2008. 12% April 1, 2016. April 1, 2016. On January 31, 2015 $4,475,000 December 2008. 12% April 1, 2017. April 1, 2017. November 19, 2015 $420,000 1,680,000 1,680,000 On April 27, 2015 $200,000 December 2008. 12% April 1, 2018. April 1, 2018. On April 30, 2015 $25,000 December 2008. 12% April 1, 2018. April 1, 2018. December 14, 2016. On May 1, 2015 $5,000 $5,000 December 2008. On May 1, 2015 Mr. van Kesteren extended the maturity date of $160,000 December 2008. 12% April 1, 2017. April 1, 2017. On May 7, 2015 the Company and our former Director, Matthew Veatch, extended the maturity date of $15,000 April 1, 2018. April 1, 2018. December 14, 2016. On June 30, 2015 the Company and the holder extended the maturity date of $100,000 December 2008. 12% April 1, 2017. April 1, 2017. On June 30, 2016 $4,055,000 April 1, 2020. April 1, 2020. On June 30, 2016 $160,000 April 1, 2018. April 1, 2018. The convertible debentures were repaid in full on December 14, 2016. On June 30, 2016 $100,000 April 1, 2020. April 1, 2020. December 2009 On December 31, 2009 $1,490,000 5,960,000 $0.25 four three Chief Executive Officer and Director, Cornelis F. Wit (“Mr. Wit”). The convertible debentures, which bear interest at 12% June 30, 2011. $0.25 On September 30, 2011 $1,490,000 October 1, 2013, $1,440,000 Mr. Wit. The Company also extended the expiration date of the warrants associated with the debentures to December 31, 2016. On February 22, 2013 $1,490,000 January 1, 2016, $1,440,000 Mr. Wit. The Company also extended the expiration date of the warrants associated with the debentures offering until January 1, 2016. On January 31, 2015 $1,440,000 April 1, 2017. April 1, 2017. November 19, 2015 $1,440,000 5,760,000 November 19, 2015 5,760,000 $1,440,000 5,760,000 On April 1, 2015 $50,000 December 2009. 12% April 1, 2018. December 7, 2015. The payments required at maturity under the Company’s outstanding convertible debt at December 31, 2016 2017 $ 50,000 2018 450,000 2019 -0- 2020 6,550,000 Total $ 7,050,000 |