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Promissory Notes
6 Months Ended
Jun. 30, 2020
Promissory Notes  
Promissory Notes

NOTE 5 – PROMISSORY NOTES

 

Promissory Note

 

As of June 30, 2020 and December 31, 2019, a promissory note of $81,983 (principal $76,263 and interest of $5,720) and $78,170 (principal $76,263 and interest of $1,907), respectively, was outstanding. The promissory note bears interest of 10% per annum, is unsecured and matures on December 31, 2021.

 

Promissory Notes – Related Party

 

As of June 30, 2020 and December 31, 2019, promissory notes – related party of $185,842 (principal $172,876 and interest of $12,966) and $177,197 (principal $172,876 and interest of $4,321), respectively, were outstanding. The promissory notes – related party bear interest of 10% per annum, are unsecured, mature on December 31, 2021 and are due to Nadav Elituv, the Company's Chief Executive Officer.