RELATED PARTY TRANSACTIONS |
6 Months Ended |
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Mar. 31, 2019 | |
Related Party Transactions [Abstract] | |
RELATED PARTY TRANSACTIONS |
NOTE 6 - RELATED PARTY TRANSACTIONS
The Company leases its office space from another entity that is also a stockholder. Rent expense paid to the related party was $12,025 and $11,671 for the three months ended March 31, 2019 and 2018, respectively. Rent expense paid to the related party was $23,696 and $22,985 for the six months ended March 31, 2019 and 2018, respectively.
In October 2017 and February 2018, the Company repaid the principal amount of a note payable totaling $15,782 to a shareholder.
In October 2017, the Company issued two promissory notes to a shareholder and director in the amounts of $15,000 each. The notes bear interest at 8% per annum and mature June 30, 2019.
On December 17, 2018, VoiceInterop entered into an unsecured promissory note with a shareholder which bears interest at 35% and matures on February 10, 2019. On February 14, 2019 the Company granted a 30 day extension to the shareholder.
On March 6, 2019, a shareholder repaid the full principal amount of $25,000 along with $1,770 in accrued interest of a promissory note held by the Company. The interest income is included in income from discontinued operations (See Note 8). |