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NOTE 8 - STOCKHOLDER LOAN
9 Months Ended
Sep. 30, 2018
Related Party Transactions [Abstract]  
(8) STOCKHOLDER LOAN

(8) STOCKHOLDER LOAN

 

The principal stockholder of the Company has loaned the Company funds at various times on an undocumented loan basis with no stated interest rate. These loans were made principally to complete the conversion of the Illegal Burger - Arvada (2014) and Illegal Burger - Writer Square (2015 and 2016), Illegal Burger Capitol Hill (2016) and Illegal Burger CitiSet (2018) locations. This stockholder loan balance was $118,386 and $90,675 at September 30, 2018 and December 31, 2017, respectively. In February 2017 the principal stockholder converted the three short-term bank revolving line of credits to a personal line of credit collateralized as an equity line on his personal residence.