v3.10.0.1
Subsequent Events
6 Months Ended
Jun. 30, 2018
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS

NOTE 12 – SUBSEQUENT EVENTS

 

On July 24, 2018, the Company received a demand notice from counsel representing a holder of a Company-issued promissory note (which holder is also a shareholder) in the amount of $300,000 plus accrued interest at 10% APR. As of August 22, 2018, the subject promissory note has been overdue for over three years. Although, pursuant to such notice, legal action has been threatened in connection with this matter, and there can be no assurance at this time of a favorable resolution that would allow the Company to avoid or delay enforcement against it of the amount due (the full $300,000 plus accrued interest at 10% APR), the Company is currently in the process of attempting to negotiate with such note holder to hold off for an indeterminate period on instituting legal proceedings aimed at enforcing collection from us of some or all of such amount.