Quarterly report pursuant to Section 13 or 15(d)

Debt and Other Financing Arrangements (Tables)

v3.21.2
Debt and Other Financing Arrangements (Tables)
6 Months Ended
Jun. 30, 2021
Debt Disclosure [Abstract]  
Schedule of Debt

 

 

June 30, 2021

 

 

December 31,

2020 (Audited)

 

Financing agreement with FlatIron capital that is unsecured. Down payment of $20,746 was required upfront and equal installment payments of $19,251 to be made over a 10 month period. The note matured on May 1, 2021. Annualized interest was

5.95%

 

$

-

 

 

$

96,257

 

 

 

 

 

 

 

 

 

 

Promissory note issued by a financial institution, bearing interest at 1.0%, interest and no principal payments.   The note matured April 30, 2022. Annualized interest was 1.0%. This is a U.S. Small Business Administration’s Paycheck Protection Program (the “PPP Loan”)

 

 

-

 

 

 

185,785

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

-

 

 

$

282,042