CHINA PHARMA HOLDINGS, INC. - 10-K filing on 2017-03-31

RELATED PARTY TRANSACTIONS	12 Months Ended
Dec. 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 December 31, 2016 and 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 $13,546 was recognized for each of the years ended December 31, 2016 and 2015.

RELATED PARTY TRANSACTIONS

12 Months Ended

Dec. 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 December 31, 2016 and 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 $13,546 was recognized for each of the years ended December 31, 2016 and 2015.