NOTE 8 - LONG-TERM DEBT

6 Months Ended

Jun. 30, 2019

NOTE 8 – LONG-TERM DEBT

In June 2018, the Company entered into a financing agreement to finance the purchase of a farm tractor. The financing agreement is secured by the tractor. The total amount financed was $21,794 at 0% interest per annum. The first monthly payment of $363 began in July 2018 and continues for 60 months. The following is the total payment amounts for the next five years:

Twelve Months ending June 30,
2020	$	4,359
2021		4,359
2022		4,359
2023		4,322
	$	17,399

The current and long-term portions of principle amounts due are as follow:

Amount of principle due in the next 12 months	$	4,359
Long term portion of principle due		13,040
	$	17,399