Quarterly report pursuant to Section 13 or 15(d)

NOTE 5 - OTHER LIABILITIES

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NOTE 5 - OTHER LIABILITIES
3 Months Ended
Mar. 31, 2019
Other Liabilities and Financial Instruments Subject to Mandatory Redemption [Abstract]  
Other Liabilities Disclosure [Text Block]

NOTE 5 – OTHER LIABILITIES


In 2016, the Company recorded a liability in connection with the sale of two Electroencephalograms (“EEG”) machines as it provided a guarantee to the customer’s financing company (See Note 2). In June 2017, the customer defaulted on its payments and an additional $19,107 was booked as a liability and recognized as a loss on the sale of the assets for interest and some taxes related to the transaction. As of March 31, 2019 and December 31, 2018, total liability to the financing company reflected in Other Liabilities is $11,138 and $12,549, respectively.


Future minimum commitments related to the EEG liability consisted of the following at March 31, 2019:


Years ended December 31,

 

Amount (USD)

 

Remainder 2019

    4,222  

2020

    6,916  

Total

  $ 11,138