General form of registration statement for all companies including face-amount certificate companies

Loans Payable (Tables)

v3.19.2
Loans Payable (Tables)
 6 Months Ended 12 Months Ended
Jun. 30, 2019
Dec. 31, 2018
Debt Disclosure [Abstract]    
Schedule of Future Minimum Principal Payments of Loans Payable  

Future minimum principal payments under the loans payable are as follows:

 

    Total  
Years ending December 31,   Payment  
2019     893,995  
2020     150,000  
2021     100,000  
2022     -  
2023     -  
    $ 1,143,995  
Schedule of Loans Payable

The Company’s loans payable are summarized below:

 

    June 30, 2019     December 31, 2018  
    Gross Principal Amount     Debt Discount     Loans Payable,
Net of Debt Discount		     Gross Principal Amount     Debt Discount     Loans Payable,
Net of Debt Discount		  
                                     
Demand Loan   $ 9,408     $ -     $ 9,408     $ 10,647     $ -     $ 10,647  
2018 Loan     417,604       -       417,604       464,739       -       464,739  
2017 Loan     126,215       -       126,215       168,609       -       168,609  
Land Loan     491,000       (23,362 )     467,638       500,000       (38,098 )     461,902  
Total Loans Payable     1,044,226       (23,362 )     1,020,864       1,143,995       (38,098 )     1,105,897  
Less: current portion     844,227       (19,686 )     824,541       893,995       (22,889 )     871,106  
Loans Payable, non-current   $ 199,999     $ (3,676 )   $ 196,323     $ 250,000     $ (15,209 )   $ 234,791  

The Company’s loans payable are summarized below:

 

    December 31, 2018     December 31, 2017  
    Gross
Principal
Amount		     Debt Discount     Loans
Payable,
Net of Debt
Discount		     Gross
Principal
Amount		     Debt Discount     Loans Payable,
Net of Debt
Discount		  
                                     
Demand Loan   $ 10,647     $ -     $ 10,647     $ -     $ -     $ -  
2018 Loan     464,739       -       464,739       -       -       -  
2017 Loan     168,609       -       168,609       412,047       -       412,047  
Land Loan     500,000       (38,098 )     461,902       550,000       (70,393 )     479,607  
Total Loans Payable     1,143,995       (38,098 )     1,105,897       962,047       (70,393 )     891,654  
Less: current portion     893,995       (22,889 )     871,106       287,838       (31,114 )     256,724  
Loans Payable, non-current   $ 250,000     $ (15,209 )   $ 234,791     $ 674,209     $ (39,279 )   $ 634,930