NOTES RECEIVABLE AND ACCRUED INTEREST – RELATED PARTIES

12 Months Ended

Dec. 31, 2019

Receivables [Abstract]

NOTES RECEIVABLE AND ACCRUED INTEREST – RELATED PARTIES

NOTE B. NOTES RECEIVABLE AND ACCRUED INTEREST – RELATED PARTIES

Receivables from related parties primarily consist of two notes of $1,164,113 and $389,154 which are payable in quarterly installments of interest only. The notes accrue interest at 10% per annum. The maturity date of these notes has been extended to December 31, 2021.

	2019		2018
Notes receivable – related parties
Unsecured, due on demand, interest rate of 10%, due monthly	$	1,553,267	$	1,553,267
Accrued interest – related parties		0		39,151
Total notes and accounts receivable – related parties	$	1,553,267	$	1,592,418