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
6 Months Ended
Jun. 30, 2020
Notes  
NOTE 5 - LOAN PAYABLE, RELATED PARTIES NOTE 5 – LOAN PAYABLE, RELATED PARTIES

 

Christopher Maggiore

 

As of June 30, 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 $542. The Company is currently accruing agreed upon interest of 11%.

 

During the six months ended June 30, 2020 and June 30, 2019, the Company accrued interest expense on loans payable to Mr. Maggiore of $542 and $16,094, respectively.

 

HEP Investments, LLC

 

During the six months ended June 30, 2020, HEP Investments, LLC advanced the Company $36,000. The Company repaid $5,000 during this period and as of June 30, 2020, HEP Investments, LLC is owed $31,000.