Annual report pursuant to Section 13 and 15(d)

Advance on Future Receipts and Notes Payable (Tables)

v3.20.1
Advance on Future Receipts and Notes Payable (Tables)
 12 Months Ended
Dec. 31, 2019
Debt Disclosure [Abstract]  
Schedule of Advances on Future Receipts

The Company has the following advances on future receipts as of December 31, 2019:

 

Note   Issuance Date   Maturity Date   Interest
Rate		     Original
Borrowing		     Balance at
December 31,
2019		     Balance at
December 31,
2018		  
                                 
Note 1   December 24, 2019   June 30, 2020     10 %   $ 506,000     $ 503,000     $                   -  
Note 2   December 24, 2019   June 30, 2020     10 %     506,000       503,000       -  
Total                   $ 1,012,000       1,006,000          
Debt discount                             (274,000 )     -  
Net                           $ 732,000     $ -