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Subsequent Events
12 Months Ended
Dec. 31, 2018
Subsequent Events [Abstract]  
Subsequent Events

NOTE 15 – SUBSEQUENT EVENTS

 

On February 18, 2019, the Company entered into a $500,000 Convertible Promissory Note (the “Note”) with LiquidValue Development Pte Ltd in the principal sum of $500,000 convertible into shares of the Company’s Common stock at a conversion price of $1.12 per share. The Note carries a fixed interest rate of 8% per annum and has a term of 12-months. Accrued interest is payable in cash in arrears on the last day of each calendar quarter, with the first interest payment due on June 30, 2019, and remains payable until the Note is paid in full or is converted. The proceeds of the note were used to purchase a license to distribute anti-keylogging spyware product in Asia from Advanced Cyber Security Corp. and to fund the costs of the initial set-up of the Company’s marketing and distribution infrastructure for the product line.