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Related Party Transactions
9 Months Ended
Sep. 30, 2018
Related Party Transactions [Abstract]  
Related Party Transactions

NOTE 3 – RELATED PARTY TRANSACTIONS

 

During the first nine months ended September 30, 2018, the Company borrowed an aggregate of $56,000 from Chong Corporation, a related entity. The balance outstanding at September 30, 2018 due to Chong Corporation is $604,544. 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 in December 2017 for an additional 12-month term at an annual rental of $9,300 with expiration on December 31, 2018. Rent was $6,975 for this nine-month period in 2018 compared to $6,885 in 2017. As of September 30, 2018, $4,650 is due to 5550 Nicollet LLC.