Quarterly report pursuant to Section 13 or 15(d)

NOTE 6: CONVERTIBLE DEBT

v3.10.0.1
NOTE 6: CONVERTIBLE DEBT
9 Months Ended
Sep. 30, 2018
Disclosure Text Block [Abstract]  
Short-term Debt [Text Block]

NOTE 6: CONVERTIBLE DEBT


During August 2018, the Company issues a convertible note payable in the amount of $160,000. The convertible note payable is due one year from the date of issuance, has an original issuance discount of $10,000, accrues interest at the rate of 10% per annum, is unsecured and is convertible after 180 days into shares of the Company’s common stock at a discount of 65% of the lowest trading price for the Company’s common stock during the twenty trading days immediately preceding the conversion.


As of and during the nine months ended September 30, 2018, the balance of the note was $160,000 and the Company recognized $1,123 in debt discount amortization expense, leaving a net convertible note balance of 151,123.