Annual report pursuant to Section 13 and 15(d)

4. LEASEHOLD IMPROVEMENT LOAN

v3.6.0.2
4. LEASEHOLD IMPROVEMENT LOAN
12 Months Ended
Dec. 31, 2016
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:

 

  2017     $ 16,559  
  2018       18,113  
  2019       1,584  
        $ 36,256