Note 4 - Note Receivable

3 Months Ended

Mar. 31, 2017

Notes

Note 4 - Note Receivable

NOTE 4 – NOTE RECEIVABLE

On November 16, 2015, the Company paid $50,000 for a secured promissory note.  The note bore interest at 10% per annum and was due on or before May 16, 2016.  Any amount of principal and interest on the note that was not paid when due was subject to default interest at the rate of 18% per annum until paid in full.  The note was secured by 500,000 shares of the borrower’s common stock, and earned $1,858 in interest income during the three months ended March 31, 2016.  On August 5, 2016, the Company received payment in full of $54,484 which consisted of $50,000 principal and $4,484 in accrued interest income.