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(11) Related-party Transactions
12 Months Ended
Dec. 31, 2017
Notes  
(11) Related-party Transactions:

(11)  Related-Party Transactions:

 

Michael A. Barron, the CEO of the Company, is a 100% owner and President of Allegheny Nevada Holdings Corporation, “Allegheny”.  The Company was indebted to Allegheny by certain promissory notes with 10% monthly interest.   As of December 31, 2017, the balance of the note dated December 15, 2015 was $39,101 and the note dated September 30, 2017 was $53,700.

 

Dianne David, the Company’s Director -Sales, is the spouse of the CEO, Michael A. Barron and as of December 15, 2015 holds a promissory note with 10% monthly interest and as of December 31, 2017 the principal balance is $74,044. 

 

Wanda Witoslawski, the CFO of the Company, holds a promissory note dated December 15, 2015 of $49,910 and promissory note dated September 30, 2017 of $18,400. The balances as of December 31, 2017 are $49,910 and $7,400, respectively.

 

Las Vegas Railway Express, Inc. holds promissory note with no interest, payable on demand. Balance as of December 31, 2017 was $154,998.