|9 Months Ended|
Sep. 30, 2018
|Debt Disclosure [Abstract]|
Loans payable consist of the following:
Strategic IR advanced the Company $168,000 between January 16 and June 15, 2018. This loan was formalized into a written note on October 13, 2018 and bears interest at the rate of 10% per annum and matures on February 10, 2019. The note may be prepaid at anytime without premium or penalty.
On April 17, 2018, the Company issued a Promissory Note in the aggregate principal amount of $50,000 to Viktoria Akhmetova. The note had a maturity date of September 13, 2018 and a coupon of eighteen percent per annum. The Company has the right to prepay the note without penalty prior to maturity date. On September 13, 2018, the maturity date of the note was extended to January 11, 2019.
The balance of the note plus accrued interest at September 30, 2018 was $53,775.
The entire disclosure for long-term debt.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef