Quarterly report pursuant to Section 13 or 15(d)

RELATED PARTY TRANSACTIONS (Tables)

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RELATED PARTY TRANSACTIONS (Tables)
9 Months Ended
Sep. 30, 2018
Related Party Transactions  
Schedule of short term notes payable

The following transactions were entered into with related parties:

 

LOANS PAYABLE TO RELATED PARTIES

 

    Interest   Maturity     September 30,     December 31,  
Description   Rate   Date     2018     2017  
                         
Gibbs International Holdings – Equipment funding   36 %   On demand     $       294,620  
Vladimir Skigin – Equipment funding   36 %   On demand       76,299       55,295  
Vladimir Skigin   18 %   January 11, 2019       53,228        
Notes payable – Related parties               $ 129,527     $ 349,915  

Schedule of convertible notes payable

Convertible notes payable to related parties consists of the following: 

 

                              September 30,     December 31,  
    Interest             Accrued           2018     2017  
Description   rate   Maturity Date   Principal     interest     Unamortized debt discount     Balance, net     Balance, net  
                                         
Delinvest Commercial, LTD     15 %   December 16, 2018     20,000       3,551             23,551       21,307  
      15 %   December 26, 2018     54,123       9,386             63,509       57,437  
                                                     
Gibbs International Holdings     15 %   December 16, 2018     52,494       9,319             61,813       55,924  
      8 %   August 31, 2019     405,735       3,646       (361,492 )     47,889        
                                                     
Cobbolo Limited     15 %   December 26, 2018     53,438       9,268             62,706       56,710  
      15 %   December 26, 2018     52,959       9,184             62,143       56,202  
                                                     
Vladimir Skigin     8 %   January 22, 2018                             105,034  
      8 %   October 10, 2018                             36,395  
      8 %   September 28, 2018                             64,809  
      8 %   January 6, 2018                             102,245  
      8 %   February 10, 2018                             29,675  
                                                     
Beverly Pacific Holdings     8 %   March 9, 2018                             86,411  
      8 %   November 6, 2017                             187,041  
                                                     
Total convertible notes payable       $ 638,749     $ 44,354     $ (361,492 )   $ 321,611     $ 859,190