• Filing Date: 2019-02-14
  • Form Type: S-1/A
  • Description: General form for registration of securities under the Securities Act of 1933 (Amendment)
v3.10.0.1
NOTES PAYABLE (Details Narrative)
1 Months Ended 3 Months Ended 9 Months Ended 12 Months Ended
Dec. 04, 2017
USD ($)
Sep. 08, 2017
USD ($)
Jun. 12, 2017
USD ($)
May 02, 2017
USD ($)
Mar. 13, 2013
Oct. 20, 2017
USD ($)
Oct. 19, 2017
USD ($)
Sep. 25, 2017
USD ($)
Nov. 30, 2016
USD ($)
Oct. 31, 2016
USD ($)
Sep. 30, 2016
USD ($)
Sep. 30, 2018
USD ($)
Sep. 30, 2017
USD ($)
Sep. 30, 2018
USD ($)
Sep. 30, 2017
USD ($)
Dec. 31, 2017
USD ($)
Integer
$ / shares
shares
Dec. 31, 2016
USD ($)
Oct. 04, 2017
USD ($)
Jul. 31, 2017
USD ($)
Principal payments on long term debt                           $ 2,064,902 $ 318,576 $ 392,002 $ 303,706    
Proceeds from new debt issuance                               5,909,650 5,824,816    
Proceeds from long term debt                           5,316,977 1,670,000 4,440,000 4,857,391    
Equipment for notes payable                           906,660 1,222,500 1,419,650 904,425    
Proceeds from the factoring agreement                               32,985 1,616,067    
Cash proceeds                               200,000      
Amortized discount                               455,000    
Unamortized discount                               35,000    
Debt discount                           (752,535)   490,000    
Underground equipment                       $ 9,346,692   9,346,692   8,887,045 7,500,512    
Surface equipment cost                       4,532,724   4,532,724   $ 3,957,603 3,751,054    
Interest rate                               7.00%      
Interest expense                       $ 305,655 $ 342,683 $ 864,104 $ 567,970 $ 558,772 283,564    
First Note [Member]                                      
Debt instrument maturity date         Jan. 17, 2016                            
Kentucky New Markets Development Program [Member]                                      
Proceeds from long term debt                               4,490,000 4,688,152    
Equipment for notes payable                               1,419,650 967,425    
Note payable 2 [Member] | Equipment Loans - McCoy [Member] | Equipment purchase agreement [Member]                                      
Underground equipment       $ 250,000                              
Debt instrument maturity date       Sep. 12, 2017                              
Note payable 2 [Member] | Equipment Loans - QEI [Member] | Equipment purchase agreement [Member]                                      
Equipment for notes payable   $ 80,000                                  
Underground equipment   600,000                                  
Note payable monthly payments   $ 30,000                                  
Note payable 2 [Member] | Equipment Loans - QEI [Member] | Equipment financing agreement [Member]                                      
Surface equipment cost             $ 90,400                        
Interest rate             9.95%                        
Debt instrument maturity date             Oct. 19, 2019                        
Note payable 2 [Member] | Equipment Loans ERC [Member]                                      
Note payable monthly payments                               $ 2,031      
Interest rate                               5.25%      
Debt instrument maturity date                               Aug. 13, 2019      
Number of instalments | Integer                               48      
Note payable 4 [Member] | Equipment Loans - McCoy [Member] | Equipment purchase agreement [Member]                                      
Underground equipment               $ 350,000                      
Note payable monthly payments               $ 20,000                      
Note payable 4 [Member] | Equipment Loans - QEI [Member] | Equipment financing agreement [Member]                                      
Surface equipment cost $ 56,900                                    
Debt instrument maturity date Jan. 07, 2021                                    
Note payable 3 [Member] | Equipment Loans - McCoy [Member] | Equipment purchase agreement [Member]                                      
Underground equipment     $ 22,500                                
Debt instrument maturity date     Sep. 12, 2017                                
Note payable 3 [Member] | Equipment Loans - QEI [Member] | Equipment financing agreement [Member]                                      
Surface equipment cost           $ 50,250                          
Interest rate           10.60%                          
Debt instrument maturity date           Oct. 20, 2019                          
Note payable [Member] | Equipment Loans - McCoy [Member]                                      
Equipment for notes payable                                 $ 315,000    
Note payable monthly payments                 $ 150,000 $ 150,000 $ 150,000                
Note payable [Member] | Equipment Loans - QEI [Member]                                      
Note payable monthly payments                               $ 2,064      
Interest rate                               8.75%      
Debt instrument maturity date                               Mar. 31, 2019      
Note payable [Member] | Equipment Loans ERC [Member]                                      
Note payable monthly payments                               $ 771      
Interest rate                               5.25%      
Debt instrument maturity date                               Jun. 30, 2019      
Number of instalments | Integer                               48      
Note payable [Member] | Business Loans - McCoy [Member]                                      
Note payable monthly payments                               $ 23,000      
Interest rate                               12.00%      
Debt instrument maturity date                               Jan. 01, 2018      
Notes payable in advance                               $ 200,000      
Note payable [Member] | Business Loan - ARC [Member] | Consolidated loan agreement [Member]                                      
Amortized discount                               105,000      
Debt discount                               $ 140,000      
Interest rate                               7.00%      
Debt instrument maturity date                               Oct. 02, 2020      
Notes payable in advance                               $ 1,300,000   $ 5,444,632  
Issue of warrant | shares                               5,017,006      
Discount on notes                               $ 35,000      
Note payable [Member] | Business Loan - ARC [Member] | Consolidated loan agreement [Member] | Minimum [Member]                                      
Exercise price of warrant | $ / shares                               $ 0.01      
Note payable [Member] | Business Loan - ARC [Member] | Consolidated loan agreement [Member] | Maximum [Member]                                      
Exercise price of warrant | $ / shares                               $ 11.44      
Note payable [Member] | Accounts Receivable Factoring Agreement [Member]                                      
Debt instrument maturity date                               Oct. 31, 2018      
Accounts receivable factoring agreement description                               The agreement calls for interest of .30% for each 10 days of outstanding balances.      
Note payable [Member] | Kentucky New Markets Development Program [Member] | Community Venture Investment XV, LLC [Member]                                      
Interest rate                               3.6985%      
Debt instrument maturity date                               Mar. 07, 2046      
Note payable [Member] | Affiliate Notes [Member] | Officer [Member]                                      
Notes payable in advance                                     $ 50,000
Note payable 1 [Member] | Equipment Loans - QEI [Member]                                      
Note payable monthly payments                               $ 1,468      
Interest rate                               6.95%      
Debt instrument maturity date                               Mar. 31, 2021      
Note payable 1 [Member] | Equipment Loans ERC [Member]                                      
Note payable monthly payments                               $ 3,304      
Interest rate                               5.25%      
Debt instrument maturity date                               Jun. 30, 2019      
Number of instalments | Integer                               40      
Note payable 1 [Member] | Kentucky New Markets Development Program [Member] | Community Venture Investment XV, LLC [Member]                                      
Interest rate                               3.6985%      
Debt instrument maturity date                               Mar. 07, 2046      
Promissory note payable [Member] | Seller Note - Deane [Member]                                      
Note payable monthly payments                               $ 10,000      
Interest rate                               6.00%      
Debt instrument maturity date                               Dec. 31, 2017