10. Related Party Transactions

9 Months Ended

Sep. 30, 2016

10. NOTE 10: RELATED PARTY TRANSACTIONS

The notes payable to and receivables from related parties are composed of the follows:

		Receivables	Payables
		September 30, December September 30,		December 31,
		2016 31, 2015 2016		2015
1	Hans Rigendinger	- - 2,021		1,973
2	Aires International	- - 48,611,633		47,198,362
3 Akyinyi Interior and Exterior - -
	Decoration	290,000		290,000
4	Global Care AG	- - 1,474,447		240,210
5	Geoffrey Long	- 19,945	- -
6	Sportiva participations ag	- -	- 528,660
7	Late Josef Mettler	- -	- 70,135
8	QuadEquity Holdings	- -	- -
9	4f capital ag	- -	- -
10	Dr. Max Rössler	- - 4,256,580 -
11	Turan Tokay	20,643 - - -
	Total excluding interest	20,643 19,945 54,634,681 48,329,340
	Accrued interest	- - 4,489,666 6,370,579
	Total	20,643 19,945 59,124,348 54,699,919
	of which non-current	- - 48,611,633 47,198,362

	Related party	Capacity	Interest Rate	Repayment Terms	Security
1	Hans Rigendinger	Shareholder, interim CEO and Company board member	3%	none	none
2	Aires International	Company owned by Dr. Max Rössler, a board member
3	Akyinyi Interior and Exterior Decoration	Company owned by the widow of the late Josef Mettler	none	none	none
4	Global Care AG	Company owned by Dr. Max Rössler, a board member	none	none	none
5	Geoffrey Long	Head of Accounting “The Americas”	none	none	none
6	Sportiva participations ag	Company formerly owned by the late Josef Mettler	3%	none	none
7	Late Josef Mettler	Former shareholder, CEO, CFO and Company board member	3%	none	none
8	QuadEquity Holdings	Company formerly owned by the late Josef Mettler (see above)	none	none	none
9	4f capital ag	Company formerly owned by the late Josef Mettler (see above)	none	none	none
10	Dr. Max Rössler	Company board member	7.25%	none	none
11	Turan Tokay	Shareholder	3%	none	none

10. RELATED PARTY TRANSACTIONS - CONTINUED

Loan agreement Aires International Investment Inc.

As of September 30, 2016 the Company owes Aires International Inc. the following:

Borrower	Debt instrument denominated in CHF	Amount in CHF	Amount in USD	Annual interest rate	Repayment date *
SunVesta Inc.	Promissory note	10,044,370	10,266,118	7.25 %	Dec 31, 2017
SunVesta Inc.	Promissory note	10,000,000	10,220,769	7.25 %	Dec 31, 2017
SunVesta Inc.	Promissory note	10,000,000	10,220,769	7.25 %	Dec 31, 2017
SunVesta Inc.	Promissory note	4,888,220	5,045,435	7.25 %	Dec 31, 2017
SunVesta Holding	Loan agreement	12,458,639	12,858,542	7.25 %	Dec 31, 2017
Total			48,611,633

* The notes may be repaid in whole or in part.

Loans Dr. Max Rssler

In the third quarter 2016, Dr. Max Rössler provided $4,202,378 (CHF 4,100,000). Interest of $24,543 was recorded in this period, resulting in a total balance of $4,256,580 as of September 30, 2016.

Loan Global Care AG

During 2014, Global Care AG loaned the Company $190,270 (CHF 185,000), which amount was repayable on October 31, 2014. The loan includes a fixed interest payment of $20,570 (CHF 20,000).

Effective June 30, 2016, an amount of $1,440,875 (CHF 1,398,802) was transferred from the loan account Dr. Max Rössler to the loan account Global Care AG.

Payable to the late Josef Mettler

During the third quarter 2016 Josef Mettler passed away and companies formerly owned by him are no longer related parties to the Company.

In the third quarter 2016, $17,775 was advanced to the late Josef Mettler for private expenses, accounted for as other assets as per September 30, 2016.

Current account Sportiva participations ag (a Josef Mettler company)

During the three-month period ended September 30, the following transaction occurred on the current account Sportive participation ag (only transactions up until the death of Josef Mettler on September 12, 2016, are shown as Sportiva is no longer a related party after this date):

	CHF	USD
Balance June 30, 2016	(549,440)	(561,569)
Cash repaid to the Company	638,423	654,364
Interest credited to the account	(373)	(382)
Changes in foreign currency	-	(1,590)

Balance September 12, 2016 88,610 90,823

10. RELATED PARTY TRANSACTIONS - CONTINUED

Service fees paid or payable to Akyinyi Interior and Exterior Decoration

During the three-month periods ended September 30, 2016, and September 30, 2015, the Company paid or accrued fees to Akyinyi Interior and Exterior Decoration, which is a company owned by the widow of the late Josef Mettler, related to interior design of the Papagayo Gulf Tourism project in the amount of $0 and $30,000 respectively. These costs have been capitalized to property and equipment.

Consulting Fees paid or payable to Cambridge Limited Corp.

During the three month periods ended September 30, 2016, and September 30, 2015, the Company paid fees to Cambridge Limited Corporation, which is a company owned by the father-in-law of the late Josef Mettler. These fees related to accounting and consulting services rendered to the Company in the amount of approximately $36,589 and $48,500, respectively.

Hans Rigendinger

There are amounts payable of $1,973 as of December 31, 2015 and $2,021 as of September 30, 2016.