v3.21.2
Notes Payable – Related Parties
6 Months Ended
Jun. 30, 2021
Related Party Transactions [Abstract]  
NOTES PAYABLE – RELATED PARTIES

NOTE 7 – NOTES PAYABLE – RELATED PARTIES

 

The Company had notes payable to a stockholder who is our chief executive officer. The note bears interest at 4% per annum and is due on December 31, 2018. This note was extended to December 31, 2021. The note payable had an unpaid balance of $167,393 as of June 30, 2021 and December 31, 2020.

 

The Company recorded interest expense of $3,321 and $3,321 for the six months ended June 30, 2021 and 2020, respectively, for these notes payable. Accrued interest related to the remaining note payable was $34,988 and $31,668 as of June 30, 2021 and December 31, 2020, respectively.