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Note 7. Advances To Related Party
6 Months Ended
Jun. 30, 2015
Notes  
Note 7. Advances To Related Party

Note 7. Advances to Related Party

On February 3, 2015, March 23, 2015, 4 May, 2015, June 6, 2015 and June 26, 2015, $90,000, $100,000, $100,000, $100,000, $100,000 respectively, were advanced to a company that Zaxis is in merger discussions with. These loans shall bear interest at the rate of one (1%) percent per annum (the "Interest Rate") and shall be due and payable ninety (90) days from the date of the Loan (the "Maturity Date"). Since collectability is not reasonably assured this amount is being expensed in the statement of operations.

The ability of the third party loanee Emerald Medical Applications Ltd to repay the loans as a standalone company is highly in doubt since it used the loan proceeds for ongoing business operations. If, for any reason, the merger with Zaxis, which is in advance stages of closing, does not close Emerald Medical Applications Ltd. will not have sufficient funds to repay the loan.