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Note 7 - Notes Payable
12 Months Ended
Dec. 31, 2017
Notes  
Note 7 - Notes Payable

NOTE 7 – NOTES PAYABLE

 

On February 1, 2017, the Company executed a promissory note for $56,216. The note bears simple interest at a rate of 3.75%, is not convertible to equity of the Company and is due on February 1, 2018. During the three months ended June 30, 2017, the Company received additional advances of $7,600. During the three months ended September 30, 2017, the Company made repayments of $2,000 and received additional advances of $23,550. On September 1, 2017, the outstanding balance of $87,366 on the note payable was converted to a convertible credit line payable as discussed in Note 8 – Convertible Credit Line Payable – Related Party.