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Debt (Fortman Insurance Agency, LLC) | 12 Months Ended
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Dec. 31, 2018
Fortman Insurance Agency, LLC [Member] |
Debt | NOTE 4. DEBT Debt consisted of the following at:
|  | December 31, 2018 |  |  | December 31, 2017 |
Vehicle note payable due December 2022 |  | $ | - |  |  | $ | 42,412 |
Vehicle note payable due February 2022 |  |  | 21,905 |  |  |  | 28,501 |
Vehicle note payable due August 2022 |  |  | 21,616 |  |  |  | - |
|  |  | 43,521 |  |  |  | 70,913 |
Less: current portion |  |  | 14,677 |  |  |  | 13,037 |
Long-term debt |  | $ | 28,844 |  |  | $ | 57,876 |
Future minimum payments approximate the following as of December 31, 2018:
Years ending December 31, |  |  |
2019 |  | $ | 14,677 |
2020 |  |  | 14,677 |
2021 |  |  | 11,975 |
2022 |  |  | 2,191 |
Total |  | $ | 43,521 |
Note Payables On December 28, 2016, the Company entered into a note agreement with a financial institution whereby the Company borrowed $50,160 for the purchase of a vehicle. The note bears an interest rate of 3% and requires monthly payments of principal and interest until the note matures on December 27, 2022. This note is collateralized by the vehicle. As of December 31, 2018, and 2017, this note payable had an outstanding principal balance of $0 and $42,412, respectively. On February 26, 2016, the Company entered into a note agreement with a financial institution whereby the Company borrowed $40,210 for the purchase of a vehicle. The note bears an interest rate of 2.25% and requires monthly payments of principal and interest until the note matures on February 26, 2022. This note is collateralized by the vehicle. As of December 31, 2018, and 2017, this note payable had an outstanding principal balance of $21,905 and $28,501, respectively. On August 11, 2018, the Company entered into a note agreement with a financial institution whereby the Company borrowed $23,430 for the purchase of a vehicle. The note bears an interest rate of 7.15% and requires monthly payments of principal and interest until the note matures on August 17, 2022. This note is collateralized by the vehicle. As of December 31, 2018, and 2017, this note payable had an outstanding principal balance of $21,616 and $0, respectively.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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