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Officer Promissory Notes
12 Months Ended
Dec. 31, 2018
Officer Promissory Notes  
Officer Promissory Notes

13. Officer Promissory Notes

 

In May 2018, the Company’s Chief Executive Officer began advancing funds to the Company in order to meet its minimum operating needs. Such advances were made pursuant to promissory notes that were due on demand, with interest at the minimum applicable federal rate, which was approximately 2.34% at December 31, 2018. As of December 31, 2018, the total principal amount of advances outstanding of $680,399, includes accrued interest of $12,574 (see Note 15).