Annual report pursuant to Section 13 and 15(d)

LOANS PAYABLE

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LOANS PAYABLE
12 Months Ended
Mar. 31, 2018
LOANS PAYABLE [Text Block]

NOTE 12 – LOANS PAYABLE

On December 31, 2017, the Company exercised its purchase option with Lessor to purchase all four pieces of equipment leased under the above referenced master lease agreement for a total of $160,000 (the “Purchase Payment”). The Purchase Payment bears interest of 12% per annum and is payable in eleven equal monthly installments of $14,934.00 each and one final installment of $4,040.41, with the first installment due on February 1, 2018 and on the remaining eleven installments due on the first of each month thereafter with the final installment due and payable on January 1, 2019.