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PREPAID FINANCING COSTS | 12 Months Ended
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Dec. 31, 2018
Notes to Financial Statements |
NOTE 4 - PREPAID FINANCING COSTS | Papadopoulos, the director of Synthesis Peer-to-Peer Income Fund and CEO of Synthesis-Structured Commodity Trade Finance Limited, (See Note 13) and to two funds controlled by Mr. Spyros Papadopoulos. More specifically, the Company paid directly to Mr. Spyros Papadopoulos a total of €587,293 ($706,044), to Synthesis Management a total of €178,293 ($214,344), and to Synthesis Multi-Asset Architecture SICAV-SIF a total of €180,840 ($217,406) for advisory fees for the Company’s financing. The Company and Mr. Spyros Papadopoulos are negotiating an advisory consulting agreement, but no agreement has been executed as of the date of this filing. During the year ended December 31, 2017, the Company fully expensed the costs and the balance of the prepaid financing costs as of December 31, 2017, is $0.

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