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

Loans Payable (Tables)

v3.19.3
Loans Payable (Tables)
 9 Months Ended 12 Months Ended
Sep. 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:

 

    September 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   $ 6,945     $ -     $ 6,945     $ 10,647     $   -     $ 10,647  
2018 Loan     368,968       -       368,968       464,739       -       464,739  
2017 Loan     77,170       -       77,170       168,609       -       168,609  
Land Loan     477,500       (22,553 )     454,947       500,000       (38,098 )     461,902  
Total Loans Payable     930,583       (22,553 )     908,030       1,143,995       (38,098 )     1,105,897  
Less: current portion     780,583       (16,139 )     764,444       893,995       (22,889 )     871,106  
Loans Payable, non-current   $ 150,000     $ (6,414 )   $ 143,586     $ 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