Note 7. Loan Receivable

In connection with the planned asset purchase agreement to acquire the assets of Naberly, Inc. ("Naberly"), the Company issued to Naberly, an unsecured loan (the "Loan") in the principal amount of up to $165,000 with an interest rate of two percent (2)% per annum, compounded annually, and a maturity date of February 28, 2021. As of December 31, 2020, the outstanding principal totaled $165,000, which was loaned to Naberly in three equal installments of $55,000 on October 16, 2020, November 1, 2020, and December 1, 2020, respectively. The unpaid principal balance of the Loan, plus all accrued and unpaid interest, shall be due and payable on February 28, 2021 (the “Maturity Date”). As of December 31, 2020, accrued interest receivable related to the note totaled $232. See Note 18. Subsequent Events.