Stockholder Notes Receivable
|6 Months Ended|
Jun. 30, 2016
|Loans, Notes, Trade and Other Receivables Disclosure [Text Block]||
8. Stockholder Notes Receivable
In 2005 and 2006, certain of the Company’s stockholders and officers issued various promissory notes totaling $195,000 for the sale of Common Stock. The notes were full recourse and were collateralized by the shares of stock sold. The amended notes bore compound interest at 0.93%, effective October 1, 2012. The noteholders were granted an extension of maturity to October 1, 2016.
As of June 30, 2016 and December 31, 2015, principal and accrued interest of $89,409 and $88,995 was outstanding on the remaining stockholder note.
The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses.
Reference 1: http://www.xbrl.org/2003/role/presentationRef