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Promissory Notes
9 Months Ended
Sep. 30, 2020
Promissory Notes  
Promissory Notes

NOTE 5 – PROMISSORY NOTES

 

Promissory Note

 

As of September 30, 2020 and December 31, 2019, a promissory note of $83,890 (principal $76,263 and interest of $7,627) 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 September 30, 2020 and December 31, 2019, promissory notes – related party of $190,163 (principal $172,876 and interest of $17,287) 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.