Quarterly report pursuant to Section 13 or 15(d)

Notes Payable and Long-Term Debt - Related Party

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Notes Payable and Long-Term Debt - Related Party
6 Months Ended
Jun. 30, 2016
Debt Disclosure [Abstract]  
Notes Payable and Long-Term Debt - Related Party

8 NOTES PAYABLE AND LONG-TERM DEBT – RELATED PARTY

 

As of June 30, 2016 and December 31, 2015, notes payable and long-term debt due to a related party consists of:

 

    June 30, 2016     December 31, 2015  
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  
      107,500       107,500  
Less current portion - related party     53,750       26,875  
     Long-term debt - related party   $ 53,750     $ 80,625  

 

The payment due April 28, 2016 has not been paid.