Annual report pursuant to Section 13 and 15(d)

4. LEASEHOLD IMPROVEMENT LOAN

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4. LEASEHOLD IMPROVEMENT LOAN
12 Months Ended
Dec. 31, 2014
Notes to Financial Statements  
4. LEASEHOLD IMPROVEMENT LOAN

In connection with the lease of commercial real estate by the Company’s wholly-owned subsidiary for the operation of the plasma collection center, the Company borrowed $125,980 from the lessor to pay for leasehold improvement costs in excess of the allowance provided for in the lease agreement.  The loan bears interest at 9% and is payable in 120 monthly installments of $1,596 maturing January 2019.  Principal maturities under the loan are as follows:

 

2015   $ 13,841  
2016     15,139  
2017     16,559  
2018     18,113  
2019     1,584  
    $ 65,236