Line of Credit |
12 Months Ended |
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Dec. 31, 2020 | |
Debt Disclosure [Abstract] | |
Line of Credit |
NOTE 8 – LINE OF CREDIT
On October 9, 2019, Orbital Satcom Corp., entered into a short-term loan agreement for $29,000, with Amazon. The one-year term loan is paid monthly, has an interest rate of 9.72%, with late payment penalty interest of 11.72%. For the years ended December 31, 2020 and 2019, the Company recorded interest expense of $952 and $574, respectively. The short-term line of credit balance as of December 31, 2020 and 2019, was $0 and $24,483. |
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- Definition Line of credit [Text Block] No definition available.
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- References No definition available.
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