Long Term Debt

12 Months Ended

Dec. 31, 2017

Debt Disclosure [Abstract]

Long Term Debt

10.       Long Term Debt

In September 2014, NanoChem Solutions Inc. signed a $1,005,967 promissory note with Harris Bank with a rate of prime plus 0.5% (2017 – 5%) to be repaid over 5 years with equal monthly installments plus interest. This money was used to retire the previously issued and outstanding debt obligations. The balance owing at December 31, 2017 was $352,089 (December 31, 2016 - $553,282). The final payment will be made in September 2019.

The Company has committed to the following repayments:

2018	$	201,193
2019	$	150,896

As of December 31, 2017, Company was in compliance with all loan covenants.

	December 31, 2017			December 31, 2016
Continuity
Balance, beginning of year	$	553,282		$	754,475
Less: Payments on loan		201,193			201,193
Balance, end of year	$	352,089		$	553,282
Less: current portion		(201,193	)		(201,193	)
Long term balance	$	150,896		$	352,089