NOTE 3 – NOTES PAYABLE

Notes payable consist of the following:

The Company has entered into several financing agreements for the purchase of equipment. The terms of these financing arrangements are for a term of 2 years to 5 years, with interest rates ranging from 1.9% to 6.9% per annum, secured by the purchased equipment.

As of December 31, 2019, the balance of notes payable was $1,106. During the three months ended March 31, 2020, the Company made repayments on the notes payable totaling about $82. The Company did not acquire additional equipment under financing agreements during the three-month period. As of March 31, 2020, the balance of notes payable was $1,025. The aggregate monthly payments of principal and interest of the outstanding notes payable as of March 31, 2020 of approximately $32 are due through 2024.