Annual report pursuant to Section 13 and 15(d)

Short Term Notes Payable

Short Term Notes Payable

12 Months Ended

Dec. 31, 2016

Debt Disclosure [Abstract]

Short Term Notes Payable

7. Short Term Notes Payable

The Company had the following short-term notes payable as of December 31, 2016 and 2015:


		2016				2015
Product liability insurance financing of $49,395 and $49,395, due in monthly installments of $5,093 and $5,087 including principal and interest at 5.93% and 5.68% through January 10, 2017 and January 16, 2016, respectively		$	4,884			$	4,882
Directors’ and officers’ liability insurance financing of $111,730 and $109,067 due in monthly installments of $10,407 and $10,147 including principal and interest at 4.89% and 4.64% through June 24, 2017 and June 24, 2016			61,493				58,470

Total short-term notes payable		$	66,377			$	63,352