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Notes Payable to Related Parties
3 Months Ended
Mar. 31, 2019
Notes Payable to Related Parties  
Notes Payable to Related Parties

Note 8 – Notes Payable to Related Parties

 

In the first quarter of 2019, the Company issued Series B Convertible Promissory Notes totaling $290,000 to stockholders. The notes are to be paid in one principal payment, along with any unpaid interest, by December 31, 2021. Interest is payable semiannually at 10%. The notes are convertible into common stock at a price of $.20 per share through December 31, 2019, $.30 per share from January 1, 2020 through December 31, 2020, and $.40 per share from January 1, 2021 through the maturity date of December 31, 2021.