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NOTES PAYABLE
9 Months Ended
Sep. 30, 2017
Notes Payable [Abstract]  
NOTES PAYABLE

NOTE 7 – NOTES PAYABLE


In December and September 2016, the Company issued unsecured, non-interest bearing, due on demand notes for $8,000 and $16,000, respectively. During the quarter ended December 31, 2016 the Company repaid $22,000. As of September 30,  2017, the outstanding principal balance of the notes was $2,000.


On July 13, 2016, HLM PayMeOn, Inc., the Company’s wholly owned subsidiary, entered into a merchant agreement with Summit Capital Partners (“SCP”), whereby it sold $40,500 of accounts receivable (the “Receipts Purchased Amount”) for a total purchase price of $30,000. HLM PayMeOn shall repay $337 daily until the Receipts Purchased Amount is repaid. The Company recorded a $10,500 deferred finance charge on the date of issuance. To secure HLM PayMeOn’s payment and performance obligations to SCP, HLM PayMeOn has granted to SCP a security interest in all HLM PayMeOn’s accounts, chattel paper, documents, equipment, general intangibles, instruments and inventory. In addition, the Company’s directors have individually guaranteed repayment of the Receipts Purchased Amount. As of September 30, 2017 and December 31, 2016 the Company has a balance owed $0 and $1,885, respectively and has amortized a total of $10,500.