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Subsequent Events
12 Months Ended
Dec. 31, 2019
Notes  
Subsequent Events

NOTE 11 – Subsequent Events

 

In accordance with ASC 855-10, the Company has analyzed its operations subsequent to December 31, 2019 through the date these financial statements were issued and has determined that it does not have any material subsequent events to disclose in these financial statement other than the events described immediately below.

 

On February 14, 2020, the Company borrowed $1,600 from our current President and director, Vincent C. Lombardi and entered into an unsecured promissory note which bears interest at nine and 00/100 percent (9.0%) per annum and is due on May 14, 2020.  It was amended to increase the interest rate to twelve percent (12.0%) and to extend the due date to November 14, 2020.

 

On February 24, 2020, the Company borrowed $1,000 from our current President and director, Vincent C. Lombardi and entered into an unsecured promissory note which bears interest at nine and 00/100 percent (9.0%) per annum and is due on May 24, 2020. It was amended to increase the interest rate to twelve percent (12.0%) and to extend the due date to November 24, 2020.

 

On March 16, 2020, the Company borrowed $1,000 from our current President and director, Vincent C. Lombardi and entered into an unsecured promissory note which bears interest at nine and 00/100 percent (9.0%) per annum and is due on June 16, 2020. It was amended to increase the interest rate to twelve percent (12.0%) and to extend the due date to November 16, 2020.

 

On April 21, 2020, the Company borrowed $3,000 from our current President and director, Vincent C. Lombardi and entered into an unsecured promissory note which bears interest at nine and 00/100 percent (9.0%) per annum and is due on July 21, 2020.  It was amended to increase the interest rate to twelve percent (12.0%) and to extend the due date to November 21, 2020.

 

On May 6, 2020, the Company borrowed $1,000 from our current President and director, Vincent C. Lombardi and entered into an unsecured promissory note which bears interest at nine and 00/100 percent (9.0%) per annum and is due on August 6, 2020.  It was amended to increase the interest rate to twelve percent (12.0%) and to extend the due date to November 6, 2020.