Quarterly report pursuant to Section 13 or 15(d)

NOTE PAYABLE, STOCKHOLDER AND NOTE PAYABLE

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NOTE PAYABLE, STOCKHOLDER AND NOTE PAYABLE
3 Months Ended
Mar. 31, 2018
Payables and Accruals [Abstract]  
NOTE PAYABLE, STOCKHOLDER AND NOTE PAYABLE

NOTE 5 – NOTE PAYABLE, STOCKHOLDER

 

A summary of the activity for the three months ended March 31, 2018, and the year ended December 31, 2017, of amounts the Company’s CEO (stockholder) loaned the Company and amounts repaid is as follows:

 

    March 31, 2018   December 31, 2017
Beginning Balance   $ 65,000     $ -0-  
Amounts loaned to the Company     27,500       65,000  
Repaid     (1,000 )     -0-  
Ending Balance   $ 91,500     $ 65,000  

 

The ending balance amount is due on demand, carries interest at 8% per annum and is included Notes payable, stockholder on the condensed consolidated balance sheet included herein.

 

NOTE 6 – NOTE PAYABLE

 

On February 27, 2018, the Company entered into a Business Loan Agreement (the “BLA”) for $43,358 with a third- party, whereby the Company received $32,600 on March 1, 2018. The BLA requires the Company to make the first six monthly payments of principal and interest of $4,102 per month, and then $3,124 for months seven thru twelve.