Annual report pursuant to Section 13 and 15(d)

NOTES PAYABLE (Tables)

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NOTES PAYABLE (Tables)
12 Months Ended
Dec. 31, 2017
Debt Disclosure [Abstract]  
Schedule of Related Party Transactions

Shareholder Advances (Related Party Only) 

       
    Amount  
Balance at December 31, 2016   $ 192,000  
         
Additions        
Advance (1)     361,600  
Total Additions     361,600  
         
Payments        
Debt Conversion to Shares (2)     262,500  
Reduction of shareholder balance through the sale of truck (3)     5,000  
Cash (4)     69,000  
Total Payments     336,500  
         
Balance at December 31, 2017   $ 217,100  

 

  (1) Funds that were provided by related parties as shareholder advances.
  (2) Shares were issued to extinguish outstanding liabilities of the Company. These liabilities could be outstanding shareholder advances, pre-bridge working capital loans or service related accounts payable.
  (3) Reduction of Jovian Petroleum balance through the sale of 2007 pickup truck Toyota.
  (4) Funds that were paid in cash by the Company to various related parties to reimburse for funds that were previously loaned as a shareholder advances.
Contractual Obligation, Fiscal Year Maturity Schedule

As of December 31, 2017, future maturities on our notes payable, which include the $217,100 related party notes, and the $32,582 current maturities and $24,204 long term installment note payable, were as follows:

 

Fiscal year ending:        
2018     $ 249,682  
2019       7,102  
2020       7,502  
2021       7,925  
2022       1,675  
Total     $ 273,886