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Note 6 - Notes Receivable | 12 Months Ended
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Dec. 31, 2018
Notes to Financial Statements |
Financing Receivables [Text Block] |
6. | NOTES RECEIVABLE
On September 18, 2017, we entered into a Loan Agreement with a privately-held identity and professional services company with ties to the FinTech industry. We committed to lend up to $1,500,000 and have advanced $1,500,000 and $1,250,000 as of December 31, 2018 and 2017, respectively. The loan bears interest at the rate of 6.0 percent annually with the maturity date for each Promissory Note on the fourth anniversary of funding of such Promissory Note, extendable by one additional year at the borrower’s election. We are entitled to purchase, at a nominal price, certain Warrant Units in conjunction with each advance. In addition, during 2018, we advanced an additional $550,000, on three separate simple Promissory Note(s) each bearing interest at the rate of 6.0 percent annually with the maturity date six months from the date of funding the Note. During the third and fourth quarter of 2018, we extended the maturity date by six months on a $250,000 loan and $225,000 loan. In the quarter ended March 31, 2018, we entered into a Convertible Loan Agreement with a private limited India based company in the FinTech industry. We committed to lend up to $435,000 with an initial advance of $235,000. The loan bears interest at the rate of 5.0 percent annually with the maturity date on the third anniversary of funding of such Promissory Note. We are entitled to convert the principal on the initial note for up to ten percent ownership of shares of the company.

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- Definition The entire disclosure for financing receivables. Examples of financing receivables include, but are not limited to, loans, trade accounts receivables, notes receivable, credit cards, and receivables relating to a lessor's right(s) to payment(s) from a lease other than an operating lease that is recognized as assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -URI http://asc.fasb.org/topic&trid=2196771 + Details
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