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NOTE PAYABLE
12 Months Ended
Dec. 31, 2020
Debt Disclosure [Abstract]  
NOTE PAYABLE

4. NOTE PAYABLE


The Company’s note payable balance is $1,337,600 at December 31, 2020 and 2019. The note payable is unsecured, bears 15% interest per annum and is due on demand. The Company agreed to pay a late charge in the amount of $10,000 on any interest payment more than 15 days’ delinquent. During the years ended December 31, 2020 and 2019, the Company incurred interest expenses of $321,190. As of December 31, 2020, and 2019, the accrued interest balance was $2,950,193 and $2,629,003, respectively. The accrued interest and late charge are due on demand and are included in accrued liabilities.