|3 Months Ended|
Mar. 31, 2018
|Debt Disclosure [Abstract]|
|Notes Payable [Text Block]||
Note 5 Notes Payable
The Company entered into two debt instruments with current maturities of less than one year during the three months ended March 31, 2018. The Company’s debt as of March 31, 2018 and December 31, 2017, net of debt discounts of $229,365 and $0, respectively, consisted of the following:
The debenture and senior note holders are entitled to receive 20,000 shares and 13,500 shares upon completion of the Company’s IPO, respectively. The fair value of the shares to be issued was $167,500 which has been accrued with a corresponding reduction to the debt liability and will be amortized through interest expense. The Company will issue these shares as soon as administratively possibles.
The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.
Reference 1: http://www.xbrl.org/2003/role/presentationRef