MyMD Pharmaceuticals, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Note Receivable - Related Parties

Note Receivable - Related Parties	12 Months Ended
Dec. 31, 2015
Receivables [Abstract]
Note Receivable - Related Parties	Note 6 - Note Receivable Related Parties On December 31, 2014 a note of $1,475,766 was issued to the Company in exchange for the Companys open trade receivables from ChubeWorkx Guernsey Limited, a major shareholder. It is payable in sixty equal installments of $27,734 commencing January 1, 2015 and has an interest rate of 5% per annum. In the event of default, the Company, at its sole discretion, has the right to redeem any and all Company shares owned by ChubeWorkx Guernsey Limited to satisfy the monies owed to the Company under this note. As of December 31, 2015 the company established an allowances for doubtful accounts for notes receivable related party of $1,299,609 which is reported as bad debt expense related parties in the consolidated statement of operations and comprehensive income for the year ended December 31, 2015 (Note 16).

Note Receivable - Related Parties

12 Months Ended

Dec. 31, 2015

Note 6 - Note Receivable Related Parties

On December 31, 2014 a note of $1,475,766 was issued to the Company in exchange for the Companys open trade receivables from ChubeWorkx Guernsey Limited, a major shareholder. It is payable in sixty equal installments of $27,734 commencing January 1, 2015 and has an interest rate of 5% per annum.

In the event of default, the Company, at its sole discretion, has the right to redeem any and all Company shares owned by ChubeWorkx Guernsey Limited to satisfy the monies owed to the Company under this note.

As of December 31, 2015 the company established an allowances for doubtful accounts for notes receivable related party of $1,299,609 which is reported as bad debt expense related parties in the consolidated statement of operations and comprehensive income for the year ended December 31, 2015 (Note 16).