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NOTE 3 - NOTES PAYABLE
3 Months Ended
Mar. 31, 2020
Debt Disclosure [Abstract]  
NOTE 3 - NOTES PAYABLE

NOTE 3 - NOTES PAYABLE 

 

Notes payable at March 31, 2020 consist of the following:    
Unsecured note payable bearing 8% interest,        
entire balance of principal and unpaid interest due on demand   $ 124,230  
Unsecured note payable bearing 10% interest,        
entire balance of principal and unpaid interest due on demand   $ 649,049  
Total notes   $ 773,279  
2020   $ 773,279  
2021   $ -0-  
2022   $ -0-  
2023   $ -0-  
2024   $ -0-  
    $ 773,279  

 

The Company imputed interest of $18,919 on the notes during the quarter ended March 31, 2020. The Company repaid the $600,000 in notes payable and $150,000 in notes payable related party with accrued interest totaling $189,118 during the first quarter of 2019.