DUE TO RELATED PARTY |
12 Months Ended |
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Dec. 31, 2016 | |
| DUE TO RELATED PARTY | |
| DUE TO RELATED PARTY |
NOTE 5 – DUE TO RELATED PARTY
As of December 31, 2016 and 2015, the Company owed HEP Investments, a related party, cumulative balances of $319,234 and $211,234, respectively. The basis for the payable is a 5.4% cash finance fee for monies invested in the Company in the form of convertible debt. For the years ended December 31, 2016 and 2015, the Company incurred finance costs related to these transactions of $108,000 and $111,820, respectively.
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- References No definition available.
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- Definition The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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