6. Short Term Notes Payable
The Company had the following short-term notes payable as of
December 31, 2017 and 2016:
|
|
|
|
|
|
|
|
|
| |
|
2017 |
|
|
2016 |
|
|
Product liability insurance financing of $31,985 and $49,395, due
in monthly installments of $3,290 and $5,093 including principal
and interest at 6.18% and 5.93% through January 10, 2018 and
January 10, 2017, respectively
|
|
$ |
3,273 |
|
|
$ |
4,884 |
|
|
Directors’ and officers’ liability insurance financing
of $140,062 and $111,730 due in monthly installments of $13,059 and
$10,407 including principal and interest at 5.09% and 4.89% through
June 24, 2018 and June 24, 2017, respectively
|
|
|
77,205 |
|
|
|
61,493 |
|
|
|
|
|
|
|
|
|
|
|
Total short-term notes payable
|
|
$ |
80,478 |
|
|
$ |
66,377 |
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