Note Payable |
12 Months Ended |
---|---|
Dec. 31, 2015 | |
Note Payable [Abstract] | |
Note Payable |
Note 5 – Note Payable
On October 25, 2014, the Company entered into a premium finance agreement for its multiple commercial insurance policies in the amount of $43,075. Pursuant to the agreement, the Company was required to pay $4,882 in monthly installments for nine months. On December 28, 2014, the Company entered into a premium finance agreement for its director and officer liability insurance policy in the amount of $0.2 million. Pursuant to the agreement, the Company was required to pay $27,614 in monthly installments for nine months. As of December 31, 2015, the Company paid the agreements in full.
On December 28, 2015, the Company entered into a premium finance agreement for its director and officer liability insurance policy in the amount of $0.3 million. Pursuant to the agreement, the Company was required to pay $30,077 in monthly installments for nine months.
As of December 31, 2015 and 2014, the outstanding balance related to the premium finance agreements was $0.3 million. |