Annual report pursuant to Section 13 and 15(d)

Note 8 - Related Party Transactions

v3.5.0.2
Note 8 - Related Party Transactions
12 Months Ended
Dec. 31, 2015
Related Party Transactions [Abstract]  
Related Party Transactions Disclosure [Text Block]
Note 8
– Related Party Transactions

Due from Related Party

The Company had a loan outstanding to its largest stockholder.  The receivable bore interest at 2.64% with no definite repayment terms and during the year ended December 31, 2014 interest totaled $46,433.  During the year ended December 31, 2014, and prior to the Company becoming a C Corporation, the loan balance of $456,563 was eliminated as the Company treated the loan balance as a stockholder distribution.  No amounts were due from the related party for the years ended December 31, 2015 and 2014.  Stockholder distributions for the periods ended December 31, 2015 and 2014 totaled $0 and $502,371 respectively.