Just cuz you keep saying it, doesn't make it so. Do the RXSF Math
RELATED PARTY TRANSACTIONS
Loans Payable
Effective May 1, 2013 entered into an agreement with Axius Consulting Group, Inc (“Axius”). It is the intent of both parties to create a line of credit agreement. The company may borrow up to [color=red][/color]$50,000 from Axius. The unpaid principal of this line of credit shall bear an interest rate of Four percent per annum. Interest on the unpaid balance of the note shall accrue monthly but shall not be due and payable until the principal balance becomes due and payable. The principal balance of the note is due and payable on December 31, 2014. The outstanding balance of the note payable was $0 and [color=red]$25,274 at September 30, 2015[/color] and 2014, respectively. Total interest accrued on the note was $836 and $1,642 for the nine months ended September 30, 2015 and 2014, respectively. On September 22, 2015 Axius agreed to provide the company with short term interest free loans. The total outstanding balance of the short term loan at September 30, 2015 was $19,500.
Effective January 1, 2014 entered into an agreement Lorraine Yarde It is the intent of both parties to create a line of credit agreement. The company may borrow up to $100,000 from Lorraine Yarde. The unpaid principal of this line of credit shall bear an interest rate of Four percent per annum. Interest on the unpaid balance of the note shall accrue monthly but shall not be due and payable until the principal balance becomes due and payable. The principal balance of the note is due and payable on December 31, 2014. The outstanding balance of the note payable was $3,300 and $55,000 at September 30, 2015 and 2014, respectively. Total interest accrued on the note was $2,825 and $1,500 at September 30, 2015 and 2014, respectively. On June 29, 2015 an extension agreement was signed extending the due date of the Note to December 31, 2015.
Effective January 1, 2014 the Company entered into a Master Promissory Note agreement with Naples Family Trust. It is the intent of both parties to create a line of credit agreement. Under the terms of the note the Company may borrow up to $100,000. The unpaid principal of this line of credit shall bear an interest rate of four percent per annum. Interest on the unpaid balance of the note shall accrue monthly but shall not be due and payable until the principal balance becomes due and payable. The principal balance of the note is due and payable on December 31, 2014. The outstanding balance of the note payable was $3,150 and $30,000 at September 30, 2015 and 2014, respectively. Total interest accrued on the note was $1,300 and $500 at September 30, 2015 and 2014, respectively. On June 29, 2015 an extension agreement was signed extending the due date of the Note to December 31, 2015
I am using this forum for it's original intention. It was created to discuss both points of view staying within the guidelines of the TOS. Remember where we are at all times. It is a DISCUSSION FORUM. Let's keep it real! This is not Trading floor on WALL
