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BANK LOAN (Tables)
9 Months Ended
Sep. 30, 2017
Bank Loan [Abstract]  
Schedule of bank loan outstanding

 

 

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

 

Schedule of future bank loan payment by years

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