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Note Payable
6 Months Ended
Jun. 30, 2019
Debt Disclosure [Abstract]  
Note Payable

Note 5 - Note Payable

 

On December 18, 2018, the Company issued a $200,000 promissory note to one institutional investor (the “Promissory Note”). The Promissory Note is due on September 18, 2019 and bears interest at a rate of 12%. In the event of default, the Promissory Note bears interest at a rate of 20%.

 

During the six months ended June 30, 2019, the Company made no payment in connection with this Promissory Note and accrued interest expense of approximately $12,000. As of June 30, 2019, the principal balance of the Promissory Note was $200,000 and accrued interest on the note payable amounted to approximately $13,000.