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Note Payable
6 Months Ended
Jun. 30, 2016
Debt Disclosure [Abstract]  
Note Payable

Note 4 –Note Payable

 

The Company has a note payable to a financial institution wherein the Company can make advances up to $75,000. The note payable is secured by certain of the Company’ assets, bears an average interest rate of 5% per annum and will mature in April 2017. As of December 31, 2015, total outstanding note payable amounted to $44,000.

 

During the period ended June 30, 2016, the Company advanced $31,000 and accrued and paid interest of $1,000. As of June 30, 2016, outstanding balance of the note amounted $75,000.