Quarterly report pursuant to Section 13 or 15(d)

Related Party Transactions

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Related Party Transactions
6 Months Ended
Jun. 30, 2018
Related Party Transactions [Abstract]  
Related Party Transactions

Note 7 – Related Party Transactions

 

One executive of the Company has entered into note payable agreements with the Company. The balance of notes payable from related parties at June 30, 2018 is $270,000.

 

As of June 30, 2018 and December 31, 2017, the balance of executives’ deferred compensation is $968,150 and $922,425, respectively.

 

From time-to-time executives of the Company advance monies to the Company to cover costs. During the three months ended June 30, 2018, executives advanced $65,000 of funds to the Company and received payments of $87,000 resulting in a $0 balance of short-term advances due to executives at June 30, 2018.