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Note 4 - Leases
12 Months Ended
Dec. 31, 2017
Disclosure Text Block [Abstract]  
Note 4 - Leases

NOTE 4 – LEASES

 

On December 1, 2015, the Company signed a lease on their office in Fredericia Denmark for DKK 13,184 per month ($1,900) and paid a security deposit of DKK 80,685 ($12,250).  Effective March 1, 2016, the Company signed Appendix 1 to the Fredericia lease agreement moving the office to a 190 square meter office located on the first floor of the building.  The rent and security deposit were not changed by the Appendix.  

 

The Company also leased some office space for approximately $875 per month on a month-to-month contract. The Company paid a deposit of approximately $900 in December 2015.  Monthly rent started in January 2016 and ended in March 2016.  

 

On September 30, 2015, the Company assumed the short-term auto lease of a member of management that ended January 8, 2016.  Monthly payments were approximately $435 and the deposit was $2,400.  The Company renewed the auto lease for an additional twelve months, through January 7, 2017 at $350 per month.  Actual payments were in the functional currency.

 

As of December 31, 2017, total lease deposits and minimum annual lease payments were $0 as all leases were on NABUFIT Denmark, which was sold during 2017.  Rent expense was $33,000 and $39,727 for years ended December 31, 2017 and 2016, respectively, and is classified as discontinued operations.