Annual report pursuant to Section 13 and 15(d)

Short-Term Notes Payable (Tables)

v3.19.1
Short-Term Notes Payable (Tables)
 12 Months Ended
Dec. 31, 2018
Debt Disclosure [Abstract]  
Summary of Short-Term Notes Payable

The Company had the following short-term notes payable as of December 31, 2018 and 2017:

 

 

 

2018

 

 

2017

 

Product liability insurance financing of $28,915 and

   $31,985, due in monthly installments of $2,696 and

   $3,290 including principal and interest at 5.09%

   and 6.18% through February 10, 2019 and

   January 10, 2018, respectively

 

$

5,295

 

 

$

3,273

 

Directors’ and officers’ liability insurance financing of

   $215,575 and $140,062 due in monthly installments of

   $20,115 and $13,059 including principal and interest

   at 5.24% and 5.09% through June 24, 2019 and June

   24, 2018, respectively

 

 

118,918

 

 

 

77,205

 

Total short-term notes payable

 

$

124,213

 

 

$

80,478