Note 11. Convertible Loan	12 Months Ended
Dec. 31, 2014
Notes
Note 11. Convertible Loan	NOTE 11. CONVERTIBLE LOAN On October 31, 2012, the Company entered into a Loan Agreement with Golden Bridge Education Inc., pursuant to which the Company may borrow up to $500,000. Pursuant to the Agreement, the lender had an option to convert the loan balance into the Company’s common stock before October 31, 2013 at $2 per share. This loan has an annual interest rate of 10% and a term of 5 years. The loan is collateralized by 2% of the ownership of the Joint Venture referred to in Note 5. On March 28, 2013, the Company entered into another loan Agreement with Golden Bridge Education Inc., pursuant to which the Company may borrow up to $500,000. Pursuant to the Agreement, the loan has an annual interest rate of 10% payable quarterly and a term of 5 years. The lender has an option to convert the loan balance into the Company’s common stock at the price that both parties agree on before the loan agreement has expired. Both loans were subordinated to the bank loan and are a senior loan to all other liabilities. The Company paid $490,000 during the year ended December 31, 2014. For the years ended December 31, 2014 and 2013, the Company paid $62,500 and $60,000 of interests, respectively. The Company evaluated the conversion option of these loans and determined that they do not contain an embedded derivative instrument, or beneficial conversion feature.

Note 11. Convertible Loan

12 Months Ended

Dec. 31, 2014

NOTE 11. CONVERTIBLE LOAN

On October 31, 2012, the Company entered into a Loan Agreement with Golden Bridge Education Inc., pursuant to which the Company may borrow up to $500,000. Pursuant to the Agreement, the lender had an option to convert the loan balance into the Company’s common stock before October 31, 2013 at $2 per share. This loan has an annual interest rate of 10% and a term of 5 years. The loan is collateralized by 2% of the ownership of the Joint Venture referred to in Note 5.

On March 28, 2013, the Company entered into another loan Agreement with Golden Bridge Education Inc., pursuant to which the Company may borrow up to $500,000. Pursuant to the Agreement, the loan has an annual interest rate of 10% payable quarterly and a term of 5 years. The lender has an option to convert the loan balance into the Company’s common stock at the price that both parties agree on before the loan agreement has expired.

Both loans were subordinated to the bank loan and are a senior loan to all other liabilities. The Company paid $490,000 during the year ended December 31, 2014. For the years ended December 31, 2014 and 2013, the Company paid $62,500 and $60,000 of interests, respectively.

The Company evaluated the conversion option of these loans and determined that they do not contain an embedded derivative instrument, or beneficial conversion feature.