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Related Party Transactions
3 Months Ended
Mar. 31, 2019
Related Party Transactions [Abstract]  
RELATED PARTY TRANSACTIONS

NOTE 6 – RELATED PARTY TRANSACTIONS 

 

Related Party Advances

 

From time to time prior to 2017, 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 March 31, 2019 and December 31, 2018 $9,629, remained outstanding.

 

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 March 31, 2019 and December 31, 2018, the Company had outstanding balances to the insurer totaling $196,515 and $275,290, included in accounts payable, respectively. During the three months ended March 31, 2019 and the year ended December 31, 2018 and 2017, the Company paid the insurer approximately $1,347,000 and $1,411,000, respectively.