RELATED-PARTY TRANSACTIONS [Text Block] | 2. RELATED-PARTY TRANSACTIONS Operating Leases The Company leases its facility from a shareholder under an operating lease agreement which expires on January 31, 2019. The monthly base rent is approximately $1,800. Rent expense under this lease agreement amounted to approximately $16,525 and $15,570 for the nine months ended September 30, 2017 and 2016, respectively and approximately $5,555 and $5,300 for the three months ended September 30, 2017 and 2016, respectively.. Loan from related party On July 26, 2013, the Company entered a loan agreement bearing interest at a fixed rate at 3% per annum with its shareholder to advance NT$5,000,000, equivalent approximately $164,853 for working capital purpose. The term of the loan started from July 30, 2013 with maturity date on July 29, 2015. On July 31, 2015, the loan with the same amount of NT$5,000,000, equivalent approximately $164,853, and the same fixed interest rate of 3% per annum was extended for another two years starting from August 1, 2015 with maturity date on July 31, 2017. On August 1, 2017, the loan with the same amount of NT$5,000,000, equivalent approximately $164,853, and the same fixed interest rate of 3% per annum was extended for another three years starting from August 1, 2017 with maturity date on July 31, 2020. On December 31, 2013, the Company entered another loan agreement bearing interest at a fixed rate at 3% per annum with its officer and shareholder to advance NT$5,000,000, equivalent approximately $164,853 for working capital purpose. The term of the loan started from January 1, 2014 with maturity date on December 31, 2015. On December 31, 2015, the loan with the same amount of NT$5,000,000, equivalent approximately $164,853, and the same fixed interest rate of 3% per annum was extended for another two years starting from January 1, 2016 with maturity date on December 31, 2018. On July 5, 2015, the Company entered another loan agreement bearing interest at a fixed rate at 3% per annum with its shareholder to advance NT$10,000,000, equivalent approximately $329,707, for working capital purpose. The term of the loan started from July 1, 2015 with maturity date on September 30, 2018. On July 1, 2016, the Company entered another loan agreement bearing interest at a fixed rate at 3% per annum with its shareholder to advance NT$10,000,000, equivalent approximately $329,707, for working capital purpose. The term of the loan started from July 1, 2016 with maturity date on September 30, 2019. As of September 30, 2017 and December 31, 2016, there were $989,120 and $925,928 advances outstanding, of which $164,853 and $154,321 were presented under current liabilities, respectively. Interest expense was $22,131 and $16,219 for the nine months ended September 30, 2017 and 2016, respectively. Interest expense was $7,437 and $7,049 for the three months ended September 30, 2017 and 2016, respectively. Advances from related party - |