BANK LOAN

9 Months Ended

Sep. 30, 2017

Bank Loan [Abstract]

BANK LOAN

NOTE 6 – BANK LOAN

The Company had the following bank loan outstanding as of September 30, 2017 and December 31, 2016:

	September 30, 2017			December 31, 2016
Bank loan, at $80,000 principal, repayable in monthly instalments of $829 with an annual interest rate of 2%, maturing Nov 29, 2026.	$	73,923		$	79,481
Less: current portion		(9,156	)		(8,465	)
Long-term portion	$	64,767		$	71,016

During the nine months ended September 30, 2017, the interest expense on bank loan was $1,076.

The following is a schedule by years of future bank loan payment as of September 30, 2017:

Year 1	$	9,156
Year 2		8,327
Year 3		8,327
Year 4		8,327
Year 5		8,327
Later Years		31,459
Total	$	73,923