RELATED PARTY TRANSACTIONS | NOTE 2 – RELATED PARTY TRANSACTIONS Steven N. Bronson, the Company's Chairman, President, CEO, and majority shareholder has loaned the Company money to fund working capital needs to pay operating expenses. The loans are repayable upon demand and accrue interest at the rate of 10% per annum and are unsecured. During the quarters ended September 30, 2019 and September 30, 2018, the Company borrowed the following amounts under the Note: Principal Interest Balance January 1, 2019 $ 169,450 $ 45,181 Additions 28,000 14,002 Cash Payments — — Balance September 30, 2019 $ 197,450 $ 59,183 Balance January 1, 2018 $ 126,950 $ 30,010 Additions 35,000 10,996 Cash Payments — — Balance September 30, 2018 $ 161,950 $ 41,006 The Company previously occupied a portion of the offices leased by BKF Capital Group, Inc., on a month to month basis for a rental fee of $50 per month that was intended to cover administrative costs. Steven N. Bronson, the Company's Chairman, CEO, and majority shareholder, is also the Chairman, CEO and majority shareholder of BKF Capital Group, Inc. Effective June 30, 2019, the Company terminated this arrangement with BKF Capital Group, Inc., and leased an administrative office on a month-to-month basis for a minimum of $10 per month. Additional charges, if any, are based upon services provided by the lessor. At September 30, 2019 and December 31, 2018, we owed BKF $2,800 and $2,500, respectively. |