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NOTE 3 - RELATED PARTY TRANSACTIONS
12 Months Ended
Dec. 31, 2016
Related Party Transactions [Abstract]  
Related Party Transactions Disclosure [Text Block]
NOTE 3 - RELATED PARTY TRANSACTIONS

At December 31, 2016 and 2015, ASAP Expo was owed $29,608 and $117,303 from affiliated companies in which ASAP Expo’s officers are also owners and officers. The advance has no written note, is non-interest bearing and payable on demand to the Company and expected to be paid within one year.

For the year ended December 31, 2016 and 2015, consulting fees from affiliates were $1,267,072 and $1,443,032, respectively.

The Company has a revolving line of credit totaling $1,800,000 with Frank Yuan and certain members of his family. The line of credit bears interest at 6% per annum starting October 1, 2010, 10% prior to October 1, 2010 and is due upon demand, as amended. On December 31, 2014, the convertible note was amended to waive the right of conversion and will be used as a line of credit. During fiscal 2016 and 2015, the Company incurred interest expense totaling $21,441 and $20,233 in connection with the Line. The balance of the note payable as of December 31, 2016 was $610,952 including accrued interest of $312,750 which was transferred to the principal at December 31, 2016. The balance of the note payable as of December 31, 2015 was $327,085 and the accrued interest on the note was $291,309.

Currently, the Company is leasing office space from its officer under a month by month basis. The lease provides for monthly lease payments of $3,500.

The son of the Company’s officer (“Son”) periodically receives salary from the Company for work performed. During 2016, the Son received a total salary of $180,000.

A brother of the Company’s officer (“Brother”) is receiving consulting fees from the Company for work performed. During 2016, the Brother earned a total consulting fee of $72,000.