NOTE 4. NOTES PAYABLE |
6 Months Ended |
|---|---|
Jun. 30, 2017 | |
| Debt Disclosure [Abstract] | |
| Debt Disclosure [Text Block] |
NOTE 4. NOTE PAYABLE
On January 6, 2017, the Company purchased a truck and entered into an installment note with Don Ringer Toyota in the amount of $35,677 for a term of five years at 5.49% APR.
During May 2017, the Company offered all debt holders the option to convert their outstanding debt and interest thereon into Preferred Stock (as defined in Note 5, below), $250,000 of Short Term Notes and $9,000 of interest thereon were converted by the holders into 25,900 shares of Preferred Stock. Included in this conversion was $100,000 of debt and $5,000 of interest by James Burns. The remaining short term note balance of $25,000 in outstanding short term notes was not converted.
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