Quarterly report pursuant to Section 13 or 15(d)

NOTES PAYABLE

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NOTES PAYABLE
3 Months Ended
Mar. 31, 2019
Notes to Financial Statements  
NOTES PAYABLE

NOTE 5 – NOTES PAYABLE

 

The Company had two financing loans for its Director and Officer Insurance, both of which expired in the third quarter of 2018 and were replaced with a new single loan.  As of March 31, 2019 and December 31, 2018 the loan(s) had a balance of $13,505 and $26,731, respectively. The new loan bears interest at 6.97% and is due within one year.

 

During the fourth quarter of 2018 a third party loaned the Company $3,300 to pay for general operating expenses. The loan is unsecured, non-interest bearing and due on demand.