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Commitments and Obligations

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lucky,mydog Member Level  Wednesday, 05/13/20 10:47:34 AM
Re: lucky,mydog post# 96
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Commitments and Obligations



During the three months ended March 31, 2020, the Company borrowed $2,700 from a shareholder resulting in a notes payable – related party balance of $163,815 at March 31, 2020. These loans are due on demand and bear interest at the rate of 8%. Interest expense on the loans for the three months ended March 31, 2020 was $3,218, resulting in accrued interest of $39,864 at March 31, 2020.

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