NOTE 5: DEBT
|9 Months Ended|
Sep. 30, 2018
|Debt Disclosure [Abstract]|
|Debt Disclosure [Text Block]||
NOTE 5: DEBT
During the nine months ended September 30, 2018, the Company received $7,500 from the issuance of a note payable. The note is due on demand and does not accrue interest. As of September 30, 2018 and December 31, 2017, the Company had outstanding notes payable to former affiliates of the Company of $420,685 and $413,185. The notes payable are unsecured, bear no interest and are due on demand.
The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef