XML 24 R13.htm IDEA: XBRL DOCUMENT v3.19.2
Notes Payable to Officer
6 Months Ended
Jun. 30, 2018
Notes Payable To Officer  
Notes Payable to Officer

6. Notes Payable to Officer

 

In May 2018, the Company’s Chief Executive Officer began advancing funds to the Company in order to meet minimum operating needs. Such advances were made pursuant to promissory notes that are due on demand, with interest at the minimum applicable Federal rate, which was approximately 2.34% at June 30, 2018. At June 30, 2018, the total principal amount of advances outstanding was $734,536. Accrued interest payable as of June 30, 2018 was $1,496.