Quarterly report pursuant to Section 13 or 15(d)

Long-Term Debt (Tables)

v3.4.0.3
Long-Term Debt (Tables)
3 Months Ended
Mar. 31, 2016
Long-Term Debt/ Subscription Agreements [Abstract]  
Schedule of long-term debt
   

(Unaudited)

March 31, 2016
    December 31, 2015  
Secured debenture payable to Workhorse Custom Chassis, LLC, due March 2016 plus interest at 10%.  The debenture is secured by the real estate and related assets of the plant located in Union City, Indiana.  Note was paid on February 2016.     -         2,722,500  
                 
Note payable to the City of Loveland, final payment due October 2016.  Interest rate amended to 8.00%.  The note is unsecured and contains restrictions on the use of proceeds.     50,000       50,000  
                 
      50,000       2,772,500  
Less current portion     50,000       2,772,500  
Long term debt     -         -