LOANS PAYABLE |
9 Months Ended | ||||
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Sep. 30, 2015 | |||||
| Loans Payable [Abstract] | |||||
| Debt Disclosure [Text Block] |
Loans payable of $100,000 at December 31, 2014 consists of a note payable to a single independent lender. The note was dated March 7, 2014, bore interest at 8% per annum and was payable on demand. On April 21, 2015 the Company repaid the remaining principal and interest balances on this note of $100,000 and $11,233, respectively.
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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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