RELATED PARTY TRANSACTIONS

12 Months Ended

Dec. 31, 2019

NOTE 2 – RELATED PARTY TRANSACTIONS

Steven N. Bronson, the Company’s Chairman, President, CEO, and majority shareholder has loaned the Company money to fund working capital needs to pay operating expenses. The loans are repayable upon demand and accrue interest at the rate of 10% per annum. During the years ended December 31, 2019 and December 31, 2018, the Company borrowed the following amounts under the Note:


	Principal		Interest

Balance January 1, 2018	$	126,950	$	30,010

Additions		42,500		15,171
Cash Payments		—		—
Balance December 31, 2018	$	169,450	$	45,181

Additions		35,711		19,026
Cash Payments		—		—
Balance December 31, 2019	$	205,161	$	64,207

The Company previously occupied a portion of the offices leased by BKF Capital Group, Inc., on a month to month basis for a rental fee of $50 per month that was intended to cover administrative costs. Steven N. Bronson, the Company’s Chairman, CEO, and majority shareholder, is also the Chairman, CEO and majority shareholder of BKF Capital Group, Inc. Effective June 30, 2019, the Company terminated this arrangement with BKF Capital Group, Inc., and leased an administrative office on a month-to-month basis for a minimum of $10 per month. Additional charges, if any, are based upon services provided by the lessor.

At December 31, 2019 and December 31, 2018, we owed BKF $2,800 and $2,500, respectively. There were no payments made during either year.