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Note 4 - Notes Payable - Related Parties
12 Months Ended
Dec. 31, 2017
Notes  
Note 4 - Notes Payable - Related Parties

NOTE 5 – NOTES PAYABLE – RELATED PARTIES

 

During the year ended December 31, 2017, the Company received $29,700 in additional cash loans from various related parties.

During the year ended December 31, 2016, the Company received $22,200 in additional cash loans from various related parties. 
Total related party notes payable as of December 31, 2017 were $1,351,369.  Of this total, $595,800 of related party notes payable is unsecured, bears interest at 6 percent per annum, and is due on demand; Also of this total, $200,000 is unsecured, bears a flat owed interest amount of $46,000, and is due on demand. The remaining $555,569 of related party notes payable  is unsecured, bears no interest, and is due on demand.
Included in the related party notes payable balance is a $50,000 penalty fee associated with one of its related party notes due to nonpayment.