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RELATED PARTY TRANSACTIONS	3 Months Ended
Mar. 31, 2016
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS	NOTE 6 – RELATED PARTY TRANSACTIONS A member of the Company's board of directors had previously advanced the Company an aggregate amount of $1,354,567 as of March 31, 2016 and December 31, 2015 which are recorded as other payables – related parties on the accompanying consolidated balance sheets. The advances bear interest at a rate of 1.0% per year. Total interest expense of $3,386 was recognized for each of the three months ended March 31, 2016 and 2015.

RELATED PARTY TRANSACTIONS

3 Months Ended

Mar. 31, 2016

NOTE 6 – RELATED PARTY TRANSACTIONS

A member of the Company's board of directors had previously advanced the Company an aggregate amount of $1,354,567 as of March 31, 2016 and December 31, 2015 which are recorded as other payables – related parties on the accompanying consolidated balance sheets. The advances bear interest at a rate of 1.0% per year. Total interest expense of $3,386 was recognized for each of the three months ended March 31, 2016 and 2015.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

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