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Lines of Credit (Tables)
9 Months Ended
Sep. 30, 2020
Linesof Credit Related Party [Abstract]  
Schedule Line of Credit Related Party

 

Creditor

Interest

Rate

Borrowing

Limit

Repayment

Terms

Amount

Outstanding

Accrued

Interest

Total Security Purpose
Chairman and CEO

1% per

Month

$10,300,000

Due on

Demand

$ 9,366,377 - $ 9,366,377

General

Security

over Assets

General

Corporate Requirements

Wife of Chairman

1% per

Month

2,000,000

Due on

Demand

2,000,000 - 2,000,000

General

Security

over Assets

General

Corporate Requirements

Total   $12,300,000   $11,366,377 - $11,366,377    

 

Creditor Interest Rate Borrowing Limit Repayment Terms Principal Borrowed Accrued Interest

Total

Outstanding

Security Purpose
Chairman and CEO 1% per Month $10,300,000 Due on Demand $ 9,757,325 $5,576,997 $15,334,322 General Security over Assets General Corporate Requirements
Wife of Chairman 1% per Month 2,000,000 Due on Demand 2,000,000 1,976,385 3,976,385 General Security over Assets General Corporate Requirements
Total   $12,300,000   $11,757,325 $7,553,382 $19,310,707