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Loans Receivable
 9 Months Ended 12 Months Ended
Sep. 30, 2019
Dec. 31, 2018
Receivables [Abstract]    
Loans Receivable

NOTE 5 - LOANS RECEIVABLE

 

At September 30, 2019 and December 31, 2018, the Company’s loans receivable consists of the following:

 

    September 30, 2019     December 31, 2018  
Loans receivable, net   $ 146,416     $ 112,911  
Less: current portion     (19,092 )     (37,155 )
Loans receivable, non-current   $ 127,324     $ 75,756  

 

During August 2019, the company advanced money to a former franchisee and issued a loan receivable in the amount of $60,186. The loan is payable in 120 monthly payments consisting of principal and interest of 12%, with the payments becoming due as of December 1, 2019.

 

Loans receivable includes loans to franchisees totaling, in the aggregate, $146,416 and $112,911, net of reserves for uncollectible loans of $55,000 and $55,000 at September 30, 2019 and December 31, 2018. The loans have original terms ranging up to 10 years, earn interest at rates ranging from 2% to 12%, and are being repaid on a weekly or monthly basis.

NOTE 5 - LOANS RECEIVABLE

 

At December 31, 2018 and 2017, the Company’s loans receivable consists of the following:

 

    December 31,     December 31,  
    2018     2017  
Loans receivable, net   $ 112,911     $ 170,668  
Less: current portion     (37,155 )     (20,146 )
Loans receivable, non-current   $ 75,756     $ 150,522  

 

Loans receivable includes loans to franchisees totaling, in the aggregate, $112,911 and $170,668, net of reserves for uncollectible loans of $55,000 and $55,000 at December 31, 2018 and 2017, respectively. The loans have original terms ranging from 1 year to 5 years, earn interest at rates ranging from 1% to 5%, and are being repaid on a weekly or monthly basis.