Annual report pursuant to Section 13 and 15(d)

Accounts Payable and Accrued Liabilities

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Accounts Payable and Accrued Liabilities
12 Months Ended
Dec. 31, 2016
Notes to Financial Statements  
Note 6. Accounts Payable, Accrued Liabilities

Accounts payable and accrued expenses (rounded in millions) consisted of the following:

 

    December 31,     December 31,  
    2016     2015  
Trade payables   $ 0.3     $ 0.3  
Accrued expenses and other     0.4       0.4  
Accrued bonuses     0.5       0.5  
Total   $ 1.2     $ 1.2  

 

Note Payable

 

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 was fully paid on November 28, 2016. Total interest expense under the note was approximately $2,400 for the year ended December 31, 2016, which was recorded in the accompanying statement of operations.