RELATED PARTY AND SHAREHOLDER LOANS PAYABLE

9 Months Ended

Sep. 30, 2018

Related Party Transactions [Abstract]

RELATED PARTY AND SHAREHOLDER LOANS PAYABLE

5. RELATED PARTY AND SHAREHOLDER LOANS PAYABLE

The Company has received financing from Management of the Company as well as from members of our Board of Directors. These individuals are deemed to be related parties to the Company and their indebtedness must be disclosed separately.

As of September 30, 2018 and December 31, 2017, there are the following related party notes payable:

	September 30, 2018		December 31, 2017
Related party loans payable	$	787,733	$	19,923
Due to shareholder		—		3,000,000
	$	787,733	$	3,019,923

During the first quarter of 2018, $910,010 was reclassified from accounts payable to loans payable related party. During the nine month period ended September 30, 2018 the Company wrote off the due to shareholder balance and accrued interest totaling $7,771,140 as disclosed in Note 10.