NOTE PAYABLE

12 Months Ended

Dec. 31, 2021

Debt Disclosure [Abstract]

NOTE PAYABLE

4. NOTE PAYABLE

The Company’s note payable balance is $1,337,600 at December 31, 2021 and 2020. 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, 2021 and 2020, the Company incurred interest expenses of $320,640. As of December 31, 2021, and 2020, the accrued interest balance was $3,270,833 and $2,950,193, respectively. The accrued interest and late charge are due on demand and are included in accrued liabilities.