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Related Party Transactions
6 Months Ended
Jun. 30, 2017
Related Party Transactions [Abstract]  
Related Party Transactions

NOTE 4 – RELATED PARTY TRANSACTIONS

 

During the six months ended June 30, 2017, the Company borrowed an aggregate of $81,000 from Chong Corporation, a related entity. The balance outstanding at June 30, 2017 is $468,544. The loan is unsecured, noninterest bearing and due on demand.

 

We maintain our corporate offices at 5550 Nicollet Avenue, Minneapolis, MN 55419. We lease the premises from 5550 Nicollet, LLC, an affiliate of Mr. Chong, having renewed the lease for an additional 12-month term at an annual rental of $9,180 with expiration December 31, 2017. Rent was $4,590 for this six-month period in 2017 compared $4,590 in 2016. As of June 30, 2017, $10,590 is due to 5550 Nicollet LLC.