Annual report pursuant to Section 13 and 15(d)

Related Party Transactions

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Related Party Transactions
12 Months Ended
Dec. 31, 2015
Related Party Transactions [Abstract]  
Related Party Transactions

12 RELATED PARTY TRANSACTIONS

 

The Company’s chief executive officer has advanced the Company an aggregate of $487,325 ($80,325 at December 31, 2014) on a non-interest bearing basis, which is being used for working capital. The advance has no fixed maturity. During the year ended December 31, 2015, $169,323 was repaid, leaving a balance of $318,002.

 

See Note 8 for long-term debt due to a director.