Quarterly report pursuant to Section 13 or 15(d)

Note 5 - Loan Payable, Related Parties

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Note 5 - Loan Payable, Related Parties
3 Months Ended
Mar. 31, 2020
Notes  
Note 5 - Loan Payable, Related Parties

NOTE 5 – LOAN PAYABLE, RELATED PARTIES

 

Christopher Maggiore

 

As of March 31, 2020, Mr. Christopher Maggiore, a director and a significant shareholder of the Company, is owed $20,000 in principal representing advances to the Company, as well as accrued interest of $253. The Company is currently accruing agreed upon interest of 11%.

 

During the three months ended March 31, 2020 and March 31, 2019, the Company accrued interest expense on loans payable to Mr. Maggiore of $253 and $7,814, respectively.

 

HEP Investments, LLC

 

As of March 31, 2020, HEP Investments, LLC is owed $26,000 in principal representing advances to the Company.