Notes Payable, Related Parties

9 Months Ended

Sep. 30, 2018

Related Party Transactions [Abstract]

Notes Payable, Related Parties

Note 9 - Notes Payable, Related Parties

A summary of the Company’s notes payable, related parties is as follows: 

	September 30,		December 31,
	2018		2017
Unsecured promissory note, interest rate of 4.25% and 8% per annum	$	0	$	12
Total notes payable, related parties		0		12
Less: current portion of notes payable, related parties		0		12
Total notes payable, long-term	$	—	$	—

In April 2013, the Company and a previous employee entered into an agreement to settle all outstanding obligations consisting of a promissory note of $40, dated March 2009, and deferred salaries amounting to $72. The note and salary obligation had an interest at 8% and 4.25%, respectively. The note required monthly payments of $1 and matured in May 2018, but the final disbursement was not made until July 2018. The deferred salary obligation required monthly payments of $1 and matured in June 2018, with final payment also made in July 2018.

Amounts outstanding on these obligations were $0 and $12 at September 30, 2018 and December 31, 2017, respectively.

Interest expense on the notes payable, related parties, was $0 for each of the three and nine months ended September 30, 2018 and $1 for the year ended December 31, 2017 respectively.