Quarterly report pursuant to Section 13 or 15(d)

8. Equipment Notes Payable (Tables)

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8. Equipment Notes Payable (Tables)
3 Months Ended
Mar. 31, 2016
Equipment Notes Payable Tables  
Equipment notes payable
    2016     2015  
             
On September 30, 2015, the Company entered into a retail installment purchase contract in the amount of $57,007, secured by a 2016 Dodge Ram 5500 purchased on that date. This installment loan bears interest at a fixed rate of 4.22% and the Company shall make 60 monthly payments of $1,056 beginning October 30, 2015.   $ 51,831     $ 54,433  
                 
On December 15, 2015, the Company entered into a retail installment purchase contract in the amount of $56,711, secured by a 2016 Dodge Ram 5500 purchased on that date. This installment loan bears interest at a fixed rate of 4.22% and the Company shall make 60 monthly payments of $1,050 beginning January 15, 2016.     54,150       56,711  
                 
On March 8, 2016, the Company entered into a retail installment purchase contract in the amount of $46,492, secured by a 2016 Dodge Ram 2500 purchased on that date. This installment loan bears interest at a fixed rate of 5.62% and the Company shall make 72 monthly payments of $764 beginning April 8, 2016.     46,493       -  
                 
Total equipment notes payable     152,474       111,144  
                 
Less Current Portion     27,928       20,979  
                 
Convertible notes payable, net of current portion   $ 124,546     $ 90,165  
Schedule of principle payments due on convertible notes payable
Twelve months ended March 31,      
2017     27,928  
2018     29,228  
2019     30,589  
2020     32,016  
2021     23,960  
2022     8,753  
      152,474