OPERATING LEASE COMMITMENT

6 Months Ended

Jun. 30, 2016

Notes to Financial Statements

NOTE 10 - OPERATING LEASE COMMITMENT

The Lessee

As of June 30, 2016, the Company had commitments for future minimum lease under non-cancellable operating leases in respect of rental premises which due as follows:

	June 30, 2016		December 31, 2015
Within one year	$	92,193	$	-
In the second to fifth years inclusive		46,588		-
After the fifth year	$	-	$	-
		138,780		-

The leases typically run for an initial period of two to five years. None of the leases included contingent rentals.

The Lessor

As of June 30, 2016, the Company's total future minimum lease receipts under non-cancellable operating leases are receivable as follows:

	June 30, 2016		December 31, 2015
Within one year	$	190,266	$	-
In the second to fifth years inclusive		234,815		-
After the fifth year	$	-	$	-
		425,081		-

The leases typically run for an initial period of two to three years. None of the leases included contingent rentals.