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Related Party Transactions
9 Months Ended
Sep. 30, 2018
Related Party Transactions [Abstract]  
RELATED PARTY TRANSACTIONS

NOTE 6 – RELATED PARTY TRANSACTIONS 

 

Related Party Advances

 

From time to time during the years ended December 31, 2017 and 2016, the Company received advances from related parties for short-term working capital. Such advances are considered short-term and non-interest bearing and due on demand. As of June 30, 2018 and December 31, 2017 $9,629, remained outstanding.

 

During the six months ended June 30, 2017, advances of $7,500 to former officers were forgiven.

 

Insurance

 

The president of the Company’s primary insurance broker, providing gap coverage for vehicles on the platform, when existing policy coverage is not applicable, is also a minority stockholder and holder of 2017 Notes with related warrants. As of June 30, 2018 and December 31, 2017, the Company had outstanding balances to the insurer totaling $0 and $337,882, included in accounts payable, respectively. During the three and six months ended June 30, 2018 and 2017, the Company paid the insurer $960,053, $2,370,946, $699,820 and $931,744, respectively.