Quarterly report pursuant to Section 13 or 15(d)

Notes Payable - Related Party

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Notes Payable - Related Party
 3 Months Ended
Mar. 31, 2017
Notes Payable - Related Party [Abstract]  
NOTES PAYABLE - RELATED PARTY

NOTE 7 – NOTES PAYABLE – RELATED PARTY

 

The Company had the following related party notes payable as of March 31, 2017 and December 31, 2016:

 

Description   Issuance Date   Maturity Date   Interest Rate     March 31, 2017
(unaudited)		     December 31,
2016		  
                           
Michael J. Doron   July 8, 2015   September 8, 2015     8.0 %   $ 2,500     $ 2,500  
Charles C. Bream III   July 8, 2015   September 8, 2015     8.0 %     2,500       2,500  
Charles C. Bream III   August 24, 2015   November 23, 2015     8.0 %     1,000       1,000  
Charles C. Bream III   August 1, 2016   September 30, 2016     8.0 %     10,000       10,000  
                                 
Total                   $ 16,000     $ 16,000  

 

Interest expense for notes payable-related party amounted to $316 and $298 for the quarter (3 months) ended March 31, 2017 and 2016.