Loans Payable | Note 3 – Loans Payable Loans payable at September 30, 2015 and December 31, 2014 consist of the following: September 30, 2015 December 31, 2014 On February 17, 2012, Panache Capital, LLC entered into an agreement to purchase $50,000 of the note payable to Azfar Haque. The Company exchanged the original note to Mr. Haque with a new note to Pananche which bears interest at 10% per annum and was due February 17, 2013. During the year ended December 31, 2012, $44,348 of the note was converted to common stock. Accrued interest is equal to $2,384 and $1,962 at September 30, 2015 and December 31, 2014, respectively. This note is in default at September 30, 2015. 8,036 7,614 Unsecured $70,000 convertible note payable to Hanover Holdings I, LLC, which bears interest at 12% per annum and due was October 24 2013. Accrued interest is equal to $30,954 and $24,672 at September 30, 2015 and December 31, 2014, respectively. This note is in default at September 30, 2015. 100,954 94,672 Unsecured $16,000 convertible note payable to Hanover Holdings I, LLC, which bears interest at 12% per annum and was due May 3, 2013. Accrued interest is equal to $6,680 and $5,244 at September 30, 2015 and December 31, 2014, respectively. This note is in default at September 30, 2015. 22,680 21,244 Unsecured $12,000 convertible note payable to Hanover Holdings I, LLC, which bears interest at 12% per annum and was due February 5, 2013. During the year ended December 31, 2013, $6,210 of the note was converted to common stock. Accrued interest is equal to $3,186 and $2,667 at September 30, 2015 and December 31, 2014, respectively. This note is in default at September 30, 2015. 8,976 8,457 Unsecured $15,000 convertible note payable to Hanover Holdings I, LLC, which bears interest at 12% per annum and was due March 26, 2013. Accrued interest is equal to $5,817 and $4,470 at September 30, 2015 and December 31, 2014, respectively. This note is in default at September 30, 2015. 20,817 19,470 Unsecured $39,647 note payable to Azfar Hague, which bears interest at 9% per annum and was due April 25, 2013. $20,000 of this note was purchased by Tangiers Investment Group, LLC on July 26, 2013. During the year ended December 31, 2014, $9,000 of the note was converted to common stock. Accrued interest is equal to $5,160 and $4,443 at September 30, 2015 and December 31, 2014, respectively. This note is in default at September 30, 2015. 15,807 15,090 Unsecured $3,000 note payable to Andre Fluellen, which calls for flat interest of $500 at maturity and was due December 1, 2013. This note was settled against accounts receivable due from Mr. Fluellen as of June 30, 2015. - 3,500 Unsecured $3,000 note payable to Andre Fluellen, which calls for flat interest of $150 at maturity and was due February 22, 2014. This note was settled against accounts receivable due from Mr. Fluellen as of June 30, 2015. - 3,150 Unsecured $14,500 convertible note payable to Asher Enterprises, Inc., which bears interest at 8% per annum and is due May 5, 2014. The note is discounted for its unamortized beneficial conversion feature of $6,202 at December 31, 2013. Accrued interest is equal to $2,487 and $1,620 at September 30, 2015 and December 31, 2014, respectively. This note is in default at September 30, 2015. 16,987 16,120 Unsecured $8,500 note payable to Bulldog Insurance, which bears interest at 5% per annum and due February 28, 2014. During the year ended December 31, 2014, $3,000 of the note was converted to common stock. Accrued interest is equal to $643 and $437 at September 30, 2015 and December 31, 2014, respectively. This note is in default at September 30, 2015. 6,143 5,937 Unsecured $5,000 convertible note payable to WHC Capital, LLC., which bears interest at 8% per annum and was due August 12, 2014. The note is discounted for its unamortized beneficial conversion feature of $3,068 at December 31, 2013. Accrued interest is equal to $857 and $557 at September 30, 2015 and December 31, 2014, respectively. This note is in default at September 30, 2015. 5,857 5,557 Unsecured $7,700 convertible note payable to Andre Fluellen, which calls for flat interest of $770 due at maturity and was due June 21, 2014. Accrued interest is equal to $1,177 at December 31, 2014. This note, including accrued interest of $1,559, was settled against accounts receivable due from Mr. Fluellen as of June 30, 2015. - 8,877 Unsecured $3,450 non-interest bearing note payable to Azfar Hague due September 20, 2014. This note is in default at September 30, 2015. 3,450 3,450 Unsecured $2,000 non-interest bearing note payable to Bulldog Insurance due September 26, 2014. This note is in default at September 30, 2015. 2,000 2,000 Unsecured $29,000 convertible note payable to LG Capital Funding, LLC., which bears interest at 8% per annum and was due March 17, 2015. The note is discounted for its unamortized beneficial conversion feature of $6,039 at December 31, 2014. Accrued interest is equal to $3,572 and $1,837 at September 30, 2015 and December 31, 2014, respectively. This note is in default at September 30, 2015. 32,572 24,798 Unsecured $18,000 convertible note payable to Tangiers Investment Group, LLC., which bears interest at 8% per annum and is due March 27, 2015. The note is discounted for its unamortized beneficial conversion feature of $4,241 at December 31, 2014. Accrued interest is equal to $2,178 and $1,101 at September 30, 2015 and December 31, 2014, respectively. This note is in default at September 30, 2015. 20,178 14,860 Unsecured $6,000 note payable to Andre Fluellen, which bears interest at 10% per annum and is due June 21, 2015. Accrued interest is equal to and $317 at December 31, 2014. This note, including accrued interest of $615, was settled against accounts receivable due from Mr. Fluellen as of June 30, 2015. - 6,317 Unsecured $10,000 note payable to Falmouth Street Holdings, LLC, which bears interest at 10% per annum and is due on demand. Accrued interest is equal to $1,474 and $726 at September 30, 2015 and December 31, 2014, respectively. 11,474 10,726 On April 9, 2014, GEL Properties, LLC entered into an agreement to purchase $24,000 of notes payable to Frank Russo. The note bears interest at 8% per annum and is due April 9, 2015. During the year ended December 31, 2014, $16,500 of the note was converted to common stock. The note is discounted for its unamortized beneficial conversion feature of $2,015 at December 31, 2014. Accrued interest is equal to $1,182 and $733 at September 30, 2015 and December 31, 2014, respectively. This note is in default at September 30, 2015. 8,682 6,218 Unsecured $5,000 note payable to Israek Idonije, which is noninterest bearing and was due July 3, 2014. During the year ended December 31, 2014, $2,800 was repaid on the loan and $3,674 and $1,986 of penalty interest was accrued at September 30, 2015 and December 31, 2014, respectively. This note is in default at September 30, 2015. 4,515 4,186 Unsecured $35,000 convertible note payable to Lucosky Brookman LLP, which bears interest at 12% per annum and due on demand. Accrued interest is equal to $10,735 and $7,593 at September 30, 2105 and December 31, 2014, respectively. 45,735 42,593 Unsecured $43,922 convertible note payable to Lucosky Brookman LLP, which bears interest at 12% per annum and due on demand. Accrued interest is equal to $12,140 and $9,526 at September 30, 2015 and December 31, 2014, respectively. 57,390 53,448 Unsecured $32,500 convertible note payable to Asher Enterprises, Inc., which bears interest at 8% per annum and was due January 31, 2014. During the year ended December 31, 2014, $7,988 of the note was converted to common stock. Accrued interest is equal to $5,426 and $3,959 at September 30, 2015 and December 31, 2014, respectively. This note is in default at September 30, 2015. 29,938 28,471 Unsecured $7,000 note payable to Andre Fluellen, which calls for flat interest of $1,500 at maturity and was due October 30, 2013. This note was settled against accounts receivable due from Mr. Fluellen as of June 30, 2015. - 8,500 Unsecured $20,000 convertible note payable to WHC Capital, LLC., which bears interest at 8% per annum and was due March 9, 2014. Accrued interest is equal to $3,836 and $2,639 at September 30, 2015 and December 31, 2014. This note is in default at September 30, 2015. 23,836 22,639 Unsecured $32,500 convertible note payable to Asher Enterprises, Inc., which bears interest at 8% per annum and was due March 3, 2014. During the year ended December 31, 2014, $7,500 of the note was converted to common stock. Accrued interest is equal to $5,258 and $3,762 at September 30, 2015 and December 31, 2014, respectively. This note is in default at September 30, 2015. 30,258 28,762 Unsecured $7,500 note payable to Andre Fluellen, which calls for flat interest of $1,400 at maturity and was due December 1, 2013. This note was settled against accounts receivable due from Mr. Fluellen as of June 30, 2015. - 8,900 On May 7, 2014, LG Capital Funding, LLC entered into an agreement to purchase $40,000 of notes payable to Frank Russo. The note bears interest at 8% per annum and is due May 7, 2015. The note is discounted for its unamortized beneficial conversion feature of $13,917 at December 31, 2014. Accrued interest is equal to $4,481 and $2,087 at September 30, 2015 and December 31, 2014, respectively. This note is in default at September 30, 2015. 44,481 28,170 Unsecured $12,5000 convertible note payable to Microcap Equity Group LLC, which bears interest at 12% per annum and was due October 8, 2014. Accrued interest is equal to $2,219 and $1,097 at September 30, 2015 and December 31, 2014, respectively. This note is in default at September 30, 2015. 14,719 13,597 Unsecured $4,200 convertible note payable to Tangiers Investment Group, LLC., which bears interest at 8% per annum and is due April 8, 2015. The note is discounted for its unamortized beneficial conversion feature of $1,128 at December 31, 2014. Accrued interest is equal to $498 and $246 at September 30, 2015 and December 31, 2014, respectively. This note is in default at September 30, 2015. 4,698 3,318 Unsecured loan advances payable to Health Information Systems Fund, LLC, which bear no interest and are due on demand. 913,400 333,000 Unsecured $5,000 note payable to Andre Fluellen, which bears interest at 10% per annum and is due September 9, 2015. Accrued interest is equal to $155 at and December 31, 2014. This note, including accrued interest of $403, was settled against accounts receivable due from Mr. Fluellen as of June 30, 2015. - 5,155 Unsecured $2,500 note payable to Andre Fluellen, which bears interest at 10% per annum and is due October 20, 2015. This note, including accrued interest of $173, was settled against accounts receivable due from Mr. Fluellen as of June 30, 2015. - 2,500 Total Loans Payable $ 1,453,583 $ 861,296 The Company accrued interest expense of $32,547 and $25,642 for the nine months ended September 30, 2015 and 2014, respectively, on the above loans. Accrued interest is included in the loan balances. The Company borrowed $580,400 and $157,850 during the nine months ended September 30, 2015 and 2014, respectively. During the nine months ended September 30, 2015, the Company settled $48,000 of loans payable against outstanding accounts receivable. During the nine months ended September 30, 2014, the Company converted $428,418 of loans payable into 7,674,970,146 shares of the Company’s common stock and $34,000 of loans payable into 17,000,000 shares of the Company’s Series A preferred stock. |