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Commitments and Contingencies
3 Months Ended
Mar. 31, 2017
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies

NOTE 20 - COMMITMENTS AND CONTINGENCIES

 

GRNQ leases an office premises in Hong Kong under a non-cancellable operating lease that expires on August 2016. The lease, which covers a term of two years, generally provides for renewal options at specified rental amounts. On July 2016, the Company renewed the lease agreement and the new expiry date is on August 2018.

 

The Company’s subsidiaries lease certain office premises in the PRC under a non-cancellable operating lease that expire in December 2017. The leases, which cover a term of two years, generally provide for renewal options at specified rental amounts.

 

The aggregate lease expense for the three months ended March 31, 2017 and 2016 were $150,807 and $71,165, respectively.

 

As of March 31, 2017, the Company has future minimum rental payments of $215,358 for office premises due under non-cancellable operating leases in the next twelve months.