Long-term Debt

9 Months Ended

Sep. 30, 2018

Long-term Debt [Abstract]

Long-term Debt

Note 4 – Long-term Debt

Total long-term debt consisted of the following:

	September 30, 2018		December 31, 2017
A note payable to a financial institution bearing interest rate at 2.78% ~3.2% as of September 30, 2018 and at 2.81% as of December 31, 2017, and guaranteed by the officer of the Company. The Company was required to make interest-only payments until December 2018, then monthly payments of both principal and interest from January 2019.	$	494,293	$	280,007
Total debt	$	494,293	$	280,007

Future minimum payments on debt consists of the following:

Years ending September 30,
2019	$	89,943
2020		202,175
2021		202,175
Total	$	494,293

The long-term debts contain certain covenants, and the Company was in compliance with the covenants.