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5. Note Receivable
6 Months Ended
Jun. 30, 2019
Receivables [Abstract]  
Note Receivable

NOTE 5. NOTE RECEIVABLE

 

On June 1, the Company sold two racecars to related party for a note receivable of $50,000 resulting in a gain of $20,000. The interest rate on the note is 1% and payments of $1,000 per month will begin August 2019 and increase to $4,778 per month in March 2020, with a final payment of $525 in December 2020.