Annual report pursuant to Section 13 and 15(d)

Notes Payable and Long-Term Debt – Related Party

v3.3.1.900
Notes Payable and Long-Term Debt – Related Party
12 Months Ended
Dec. 31, 2015
Notes Payable And Long-term Debt Related Party  
Notes Payable and Long-Term Debt - Related Party

8 NOTES PAYABLE AND LONG-TERM DEBT – RELATED PARTY

 

As of December 31, 2015 and December 31, 2014, notes payable and long-term debt due to a related party consists of:

 

    December 31, 2015     December 31, 2014  
Note payable to director due in four equal annual installments of $26,875 on April 28 of each year, non-interest bearing     107,500       -  
      107,500       -  
Less current portion - related party     26,875       -  
Long-term debt - related party   $ 80,625     $ -