Note 11 - Subsequent Events

12 Months Ended

Dec. 31, 2018

Notes to Financial Statements

Subsequent Events [Text Block]

11. Subsequent events

On

January 21, 2019,

the Company entered into a

$2,986

(

RMB20,000

) loan arrangement with a

third

party, with an annual interest rate of

15%,

and is guaranteed by the Founder, Mr. Linqing Jia. The original maturity date of the loan is

April 20, 2019,

and the Company has received

$1,493

(

RMB10,000

) by the date of these financial statements. The repayment period was extended to

October 20, 2020

pursuant to a supplementary agreement for those amount received.

On

March 28, 2019,

the Company borrowed a

three

-year term loan of

$1,493

(

RMB10,000

) from China Construction Bank, with an annual interest rate of

5.7%,

guaranteed by its shareholder, Shenzhen Sangel Capital Management Limited Company and Mulong Liu.

On

April 26, 2019,

the Company entered into a

$1,000

loan agreement with Shenzhen Sangel Zhichuang Investment Co., Ltd., with an annual interest rate of

15%,

and is guaranteed by the Founder, Mr. Linqing Jia. The Company has fully drawn down the loan of

$1,000

in

April 2019.