Annual report pursuant to Section 13 and 15(d)

Note 3 - Notes Receivable

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Note 3 - Notes Receivable
12 Months Ended
Dec. 31, 2017
Notes to Financial Statements  
Loans, Notes, Trade and Other Receivables Disclosure [Text Block]
Note
3:
 
Notes Receivable
 
Effective
July 2012,
the Company sold a company-owned clinic, including the license agreement, equipment, and customer base, in exchange for a
$90,000
unsecured promissory note. The note bore interest at
6%
per annum for
fifty-four
months and required monthly principal and interest payments over
forty-two
months, beginning on
August 2013.
The note matured in
January 2017
and was paid in full upon maturity. 
 
Effective
July 2015,
the Company entered into
two
license transfer agreements, in exchange for
$10,000
and
$29,925
in separate unsecured promissory notes.  The non-interest-bearing notes require monthly principal payments over
24
months, beginning on
September 1, 2015.
The note was settled in full in
2017.
   
Effective
May 2016,
the Company entered into
three
license transfer agreements, in exchange for
three
separate
$7,500
unsecured promissory notes.  The non-interest-bearing notes require monthly principal payments over
six
months, beginning on
May 1, 2017.
The note matured in
October 2017
and was paid in full upon maturity. 
 
Effective
April 29, 2017,
the Company entered into a regional developer agreement for certain territories in the state of Florida in exchange for
$320,000,
of which
$187,000
was funded through a promissory note. The note bears interest at
10%
per annum for
42
months and requires monthly principal and interest payments over
36
months, beginning
November 1, 2017
and maturing on
October 1, 2020. 
The note is secured by the regional developer rights in the respective territory.
 
Effective
August 31, 2017,
the Company entered into a regional developer agreement for certain territories in Maryland/Washington DC in exchange for
$220,000,
of which
$117,475
was funded through a promissory note. The note bears interest at
10%
per annum for
36
months and requires monthly principal and interest payments over
36
months, beginning
September 1, 2017
and maturing on
August 1, 2020.
The note is secured by the regional developer rights in the respective territory.
 
Effective
September 22, 2017,
the Company entered into a regional developer and asset purchase agreement for certain territories in Minnesota in exchange for
$228,293,
of which
$119,147
was funded through a promissory note. The note bears interest at
10%
per annum for
36
months and requires monthly principal and interest payments over
36
months, beginning
October 1, 2017
and maturing on
September 1, 2020.
The note is secured by the regional developer rights in the respective territory.
 
Effective
October 10, 2017,
the Company entered into a regional developer agreement for certain territories in Texas, Oklahoma and Arkansas in exchange for
$170,000,
of which
$135,688
was funded through a promissory note. The note bears interest at
10%
per annum for
36
months and requires monthly principal and interest payments over
36
months, beginning
September 24, 2017
and maturing on
October 24, 2020.
The note is secured by the regional developer rights in the respective territory.
 
The outstanding balance of the notes as of
December 31, 2017
and
2016
were
$523,785
and
$40,826,
respectively.