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6 RELATED PARTY TRANSACTIONS (Details)
3 Months Ended
Mar. 31, 2017
USD ($)
Promissory Note May 2014 [Member]  
Principle $ 500,000
Interest rate 10.00%
Balance of note $ 527,333
Maturity date Dec. 31, 2017
Terms

 

 

The maturity date was December 31, 2015.If Snöbar Holdings was not in default, the maturity date of the note would have automatically been extended to December 31, 2016 ("First Extended Maturity Date"). Commencing on January 1, 2016, Snöbar Holdings agreed to make monthly payments of $15,000 until the First Extended Maturity Date.Assuming Snöbar Holdings is not in default with respect to its obligations as of the First Extended Maturity Date, the maturity date of the note shall automatically extend to December 31, 2017 ("Second Extended Maturity Date").Commencing on January 1, 2017, the monthly payments will be increased to $25,000 for every month until the Second Extended Maturity Date.All accrued but unpaid interest, charges and the remaining principal balance of the note is fully due and payable on the Second Extended Maturity Date.

 

On February 13, 2017, Pacific Ventures entered settlement with one of its creditors for $527,333 of its long-term notes payable. The agreement called for issuance of 400,000 shares of Pacific Ventures' restricted common stock and $200,000 in future cash payment comprising of $25,000 on March 31, 2017, $25,000 on March 31, 2018, $25,000 on March 31, 2019, and $125,000 on March 31, 2020. As of March 10, 2017, Pacific Ventures has issued to the creditor 400,000 shares of Pacific Ventures' restricted common stock, and has also paid the $25,000 payment for the required March 31, 2017 cash payment. The balance of the note as of March 31, 2017 was$175,000 compared to December 31, 2016 balance of $527,333.

Promissory Note Mar 2017 [Member]  
Principle $ 172,000
Interest rate 8.00%
Promissory Note IPIC[Member]  
Terms

 

The note is convertible to equity at a 45% discount or can be repaid in cash at the Company's discretion.