Quarterly report pursuant to Section 13 or 15(d)

Note 4 - Due to Related Party

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Note 4 - Due to Related Party
6 Months Ended
Jun. 30, 2019
Notes  
Note 4 - Due to Related Party

NOTE 4 – DUE TO RELATED PARTY

 

As of June 30, 2019, and December 31, 2018, the Company owed HEP Investments, LLC, a related party, $-0- and $432,429, respectively. The origin of the payable is a 5.4% cash finance fee for monies invested in the Company in the form of convertible debt (see Note 6). During the six months ended June 30, 2019, the balance of $432,429 was converted at $.10 per share into 4,324,291 shares of the Company’s common stock.

 

During the six months ended June 30, 2019 and 2018, the Company incurred additional finance costs related to these transactions of $-0- and $81,000, respectively.