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Note 3. Note Payable
6 Months Ended
Mar. 31, 2018
Notes  
Note 3. Note Payable

Note 3. Note Payable

 

On March 16, 2017, the Company executed a promissory note (the “Note”) with an unaffiliated lender in the amount of $25,000.  The Note matures one year from issuance and has a 12% interest rate. Through an addendum to the Note dated February 15, 2018, the Note’s due date was extended until September 16, 2018.

 

For the three and six months ended March 31, 2018 and 2017, the Company recorded $740 and $123, and $1,496 and $123 in interest expense, respectively.