Annual report pursuant to Section 13 and 15(d)

Accounts Payable

v3.19.3
Accounts Payable
12 Months Ended
Dec. 31, 2018
Accounts Payable  
Accounts Payable

NOTE 5 – ACCOUNTS PAYABLE

 

During the years ended December 31, 2018 and 2017, the Company settled outstanding payables with vendors and Joint Venture partners. In connection with the settlement, the Company recorded a gain of $1,500,000 and $0 for the years ended December 31, 2018 and 2017, respectively. This was primarily due to the rescission of the GateC Research Joint Venture.