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Related-Party Transactions
6 Months Ended
Jun. 30, 2017
Related Party Transactions [Abstract]  
Related-Party Transactions

Note 4. Related-Party Transactions

 

At June 30, 2017, $2,343,000 of related party debt was outstanding and will mature on April 1, 2018, which is unsecured and is interest free, of which approximately $2,000,000 was forgiven in consideration for the sale of 100% of the common stock held by the Company in certain subsidiaries subsequent to June 30, 2017 (Note 8).

 

In March 2015 the Company entered into a sales contract in the normal course of business with a customer (Horizon Latin America) in which the Company holds minority ownership interest. The customer purchased a perpetual software license for $500,000. As at June 30, 2017 Horizon Latin America owed the Company $250,000

 

The Company owns a cost based investment interest of 10% in the customer with limited voting rights or board representation.