Asia Properties Inc (ASPZ)

[Slojab]

At least, McKinney's making some money on ASPZ.

NOTE 5 – REVOLVING LINE OF CREDIT

In February 2007, the Company obtained a revolving line of credit from Wells Fargo & Company for a maximum amount of $50,000 with interest charged at a fixed rate of 12.75% per annum and is personally guaranteed by a shareholder of the Company. This shareholder was also the former director and Chief Executive Office of the Company.

As of June 30, 2015, the outstanding balance of the revolving line of credit was $46,058.

The aggregate interest expense for the three and six months ended June 30, 2015 were $1,988 and $3,643, respectively.

The aggregate interest expense for the three and six months ended June 30, 2014 were $3,123 and $6,672 espectively