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8. Loans payable
3 Months Ended
Mar. 31, 2016
Payables and Accruals [Abstract]  
8. Loans payable

8. Loans payable

 

The Company has an automobile loan payable bearing interest at 4.49% with blended monthly payments of $835 that matures in March 2018. The loan is secured by the vehicle with a net book value as at March 31, 2016 of $14,767.

 

    March 31, 2016   December 31, 2015
    Unaudited    
Automobile loan                
Current portion   $ 7,213     $ 6,684  
Long-term portion     7,544       8,788  
    $ 14,757     $ 15,472  

 

Estimated principal payments are as follows:

 

    Amount
Within 1 year     7,213  
1 to 2 years   $ 7,544  
    $ 14,757