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Note 3. Note Payable
9 Months Ended
Jun. 30, 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 a second addendum to the Note dated August 8, 2018, the Note’s due date was extended until December 31, 2018. 

 

For the three and nine months ended June 30, 2018 and 2017, the Company recorded $748 and $748, and $2,244 and $871 in interest expense, respectively.