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Receivables Financing Agreement
 3 Months Ended
Mar. 31, 2020
Receivables [Abstract]  
RECEIVABLES FINANCING AGREEMENT

NOTE 6 — RECEIVABLES FINANCING AGREEMENT

 

In January 2020 we entered into an agreement with a lender that provides advances against the collection of accounts receivable. Advances made under the agreement are generally repayable in 45 days from the date of the advance and bear interest at 1.5% per month. Advances under the agreement were $180,778 at March 31, 2020. In April 2020, the lender informed the Company that it would not be able to advance additional funds pursuant to this arrangement due to the impact of the COVID-19 pandemic.