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RELATED PARTY TRANSACTIONS
12 Months Ended
Dec. 31, 2016
Notes to Financial Statements  
NOTE 5 - RELATED PARTY TRANSACTIONS

On March 22, 2016, Company executed a promissory note with Sector Five, Inc., a privately held Delaware corporation, for the purchase of inventory in the amount of $120,006. The note is due in one year and bears interest at 5%. The balance of the note was subsequently reduced by $23,920 for $17,160 of inventory that was returned to the lender and $6,760 that was determined to be obsolete. As of December 31, 2016, there is $96,086 and $4,557 of principal and interest, respectively, due on this note.

 

During the years ended December 31, 2016 and 2015, the Company’s CEO and Chairman loaned funds to the Company in support of its operations by providing payments to the Company's vendors and advances for operations. These amounts are considered due on demand and are non-interest bearing. As of December 31, 2016 and 2015, the balance due for these advances is $185,011 and $18,367, respectively.

 

During the year ended December 31, 2016, Kirkland Holdings, Inc., a company with common management, advanced the Company $31,600, $19,169 of which was repaid. The advance is unsecured, non-interest bearing and due on demand. The balance at December 31, 2016 is $12,431.