Related Party Transactions

6 Months Ended

Jun. 30, 2018

NOTE 8- RELATED PARTY TRANSACTIONS

On July 15, 2017, Tang Dynasty entered into consulting agreements with two of its former shareholders, Cheuk Kau Herman Kwong and Kwok Leung Lee (“the consultants”). The agreements provide that the monthly compensation for January and February 2018, $2,552 (HKD20,000), for March to June 2018, $1,275 (HKD10,000), is payable to each of the consultants for the financial and project management services rendered to Tang Dynasty. Pursuant to these agreements, Tang Dynasty has incurred and paid $3,827 (HKD30,000) and $10,206 (HKD80,000) and to each of the consultants during the three months period and six months period ended June 30, 2018 respectively.

IMGL has incurred $30,000 and $60,000 as management consulting fee to Hoi Ming Chan, Chief Executive Officer, in respect of his services rendered to IMGL for the three months period ended June 30, 2018 and the six month period ended period ended June 30, 2018 respectively. IMGL has incurred and paid $10,500 and $21,000 as financial consulting fee to AE Financial Management Ltd. in respect of the services rendered by Edward Low, Chief Financial Officer, for the three months period ended June 30, 2018 and the six month period ended June 30, 2018 respectively.

Other receivables-related parties

Other receivables - related parties are those non-trade receivables arising from transactions between the Company and certain related parties, such as loans and employee advances to such related parties. The loans are unsecured, non-interest bearing and due in the next 12 months.

Other receivables - related parties consisted of the following

Name of related parties	Relationship	Nature of transactions	June 30, 2018 (Unaudited)		December 31, 2017 (Audited)

Image International Group Inc.	Mr. Hoi Ming Chan is the Chief Executive Officer	Loan for funding business development activities	$	-	$	57,955
Hui Zhang	Director of Yangshuo	Loan for funding business development activities		188,168		-

Total			$	188,168	$	57,955

Other payables-related parties

Other payables - related parties consisted of the following:

Name of related parties	Relationship	Nature of transactions	June 30, 2018 (Unaudited)		December 31, 2017 (Audited)

Hui Zhang	Director of Yangshuo	Funds to former shareholders	$	-	$	392,235
Ni Qin	Director of Shenzhen Guyue Environmental Technology Co. Ltd.	Loan from director for operating cash flows		318,002		16,008
Hoi Ming Chan	Chief Executive Officer of IMGL and Director of Tang Dynasty	Advances from director to support the operation of Tang Dynasty and compensation for consulting service to IMGL		3,169,302		2,575,428
Zhi Yuan Chen	Supervisor of Shenzhen Guyue Environmental Technology Co. Ltd.	Loan from supervisor for Gu Yue’s operating cash flow		2,729		19,681
Shenzhen Dongyuan Dongli Battery Co., Ltd	Zhi Yuan CHEN is the corporate representative of the Company	Loan for Gu Yue’s operating cash flows		-		799
Huizhou Shiji Wufeng Agricultural Industry Co., Ltd	Owned by Shenzhen Dongyuan Dongli Battery Co., Ltd and Zhi Yuan CHEN	Loan for Gu Yue’s operating cash flows		-		1,202

Total				3,490,033		3,005,353
Total other payables - related parties - current				3,490,033		3,005,353
Total other payables - related parties - non-current			$	-	$	-

Image International Group, Inc. 10-Q