Accounts Payable, Accrued Liabilities and Note Payable
|6 Months Ended|
Jun. 30, 2016
|Accounts Payable, Accrued Liabilities and Note Payable [Text Block]||
Note 6. Accounts Payable, Accrued Liabilities and Note Payable
Accounts payable and accrued liabilities (rounded in millions) consisted of the following:
On February 28, 2016 a note payable was issued to a finance company for a vendor invoice, which totaled $135,000. A down payment of $13,500 was made with remaining payments of nine monthly installments of approximately $14,000 (annual effective interest rate approximately 5%). The note is expected to be fully paid by November 28, 2016. Total interest expense under the note was approximately $1,000 for the three months ended June 30, 2016 and $2,000 for the six months ended June 30, 2016, which was recorded in the accompanying statement of operations.
The entire disclosure for accounts payable and accrued liabilities at the end of the reporting period.
Reference 1: http://www.xbrl.org/2003/role/presentationRef