Quarterly report pursuant to Section 13 or 15(d)

Notes Payable - Related Party

v3.8.0.1
Notes Payable - Related Party
3 Months Ended
Mar. 31, 2018
Debt Disclosure [Abstract]  
Notes Payable - Related Party

5 NOTES PAYABLE – RELATED PARTY

 

As of March 31, 2018 and December 31, 2017, notes payable due to a related party consists of:

 

    March 31, 2018     December 31, 2017  
Notes payable to SMDMM Funding LLC; interest at 8% per annum; due on demand   $ 241,000     $ 285,000  
Notes payable to True Wireless, LLC; non-interest bearing; due on demand     -       19,000  
Notes payable—related party     241,000       304,000  

 

SMDMM Funding, LLC and True Wireless, LLC are owned by the Company’s chief executive officer. Accrued interest owed to SMDMM Funding, LLC was $183 and $1,711 at March 31, 2018 and December 31, 2017, respectively.