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Subsequent Events
12 Months Ended
Dec. 31, 2019
Subsequent Events [Abstract]  
Subsequent Events

NOTE 11. SUBSEQUENT EVENTS

 

In February 2020, the Company sold the airplane for a gain of approximately $146,000 that will be recorded in the first quarter of 2020. The Company also paid the outstanding balance on the debt related to the airplane of $211,667 in February 2020.

 

In February 2020, the Company entered into a financing agreement to purchase equipment for $94,603. The Company is obligated to pay $1,830 a month for 60 months.

 

In early March 2020, there was a global outbreak of COVID-19 that has resulted in changes in global supply and demand of certain materials and energy products. These changes, including a potential economic downturn and any potential resulting direct and indirect negative impact to the Company cannot be determined, but they could have a prospective material impact to the Company’s business, cash flows and liquidity.