Long Term Debt	6 Months Ended
Jun. 30, 2017
Notes
Long Term Debt	Note 4 Long Term Debt The Company has a note dated December 31, 2004, payable in New Zealand dollars, with an original face value of NZ $8.6 million and secured by real estate in New Zealand and a general security agreement over the assets of the Company’s New Zealand subsidiary, with the Company as guarantor. The holder of the note owns 0.7% of the issued and outstanding common stock of the Company. The note calls for payments of NZ $20,000 (US $14,642 at June 30, 2017) per month. The maturity date is March 31, 2019 with an extension to March 31, 2024 available if the Company is not in default. The agreement does not provide for interest to be paid on this note payable so the Company has imputed interest of $46,500 and $50,010 for the quarters ended June 30, 2017 and 2016, respectively, and $93,000 and $100,020 for the six months ended June 30, 2017 and 2016. The balance of this note was NZ $4,874,266 (US $3,568,450) and NZ $5,098,463 (US $3,531,705) as of June 30, 2017 and December 31, 2016, respectively. The Company has a note payable dated December 31, 2004, payable to a New Zealand bank, Westpac, for a loan in favor of Mocles at the bank’s prime rate plus 2%. The note calls for monthly interest payments and payments against principal of NZ $20,000 (US $14,642). The maturity date is March 31, 2019 with an extension to March 31, 2024 available if the Company is not in default. The balance of this note was NZ $2,065,000 (US $1,511,787) and NZ $2,185,000 (US $1,513,550) as of June 30, 2017 and December 31, 2016, respectively. In June 2015, the Company received a term loan of $200,000 from a local bank which was used to fund upgrades to the property management and central reservation systems. These outflows will be recouped by the Company through reimbursements from managed properties. The loan is for a fixed interest rate of 5.875% with monthly payments of $3,855 and matures in June 2020. The outstanding balance of this loan was $126,854 and $145,892 as of June 30, 2017 and December 31, 2016, respectively. In March 2016, the Company received a loan of $40,178 to finance the purchase carts for one of its managed properties. The loan is secured by the equipment purchased. The loan is for a fixed interest rate of 4.43% with monthly payments of $749 and matures in March, 2021. The outstanding balance of this loan was $30,960 and $37,919 as of March 31, 2017 and December 31, 2016, respectively.

Long Term Debt

6 Months Ended

Jun. 30, 2017

Note 4 Long Term Debt

The Company has a note dated December 31, 2004, payable in New Zealand dollars, with an original face value of NZ $8.6 million and secured by real estate in New Zealand and a general security agreement over the assets of the Company’s New Zealand subsidiary, with the Company as guarantor. The holder of the note owns 0.7% of the issued and outstanding common stock of the Company. The note calls for payments of NZ $20,000 (US $14,642 at June 30, 2017) per month. The maturity date is March 31, 2019 with an extension to March 31, 2024 available if the Company is not in default. The agreement does not provide for interest to be paid on this note payable so the Company has imputed interest of $46,500 and $50,010 for the quarters ended June 30, 2017 and 2016, respectively, and $93,000 and $100,020 for the six months ended June 30, 2017 and 2016. The balance of this note was NZ $4,874,266 (US $3,568,450) and NZ $5,098,463 (US $3,531,705) as of June 30, 2017 and December 31, 2016, respectively.

The Company has a note payable dated December 31, 2004, payable to a New Zealand bank, Westpac, for a loan in favor of Mocles at the bank’s prime rate plus 2%. The note calls for monthly interest payments and payments against principal of NZ $20,000 (US $14,642). The maturity date is March 31, 2019 with an extension to March 31, 2024 available if the Company is not in default. The balance of this note was NZ $2,065,000 (US $1,511,787) and NZ $2,185,000 (US $1,513,550) as of June 30, 2017 and December 31, 2016, respectively.

In June 2015, the Company received a term loan of $200,000 from a local bank which was used to fund upgrades to the property management and central reservation systems. These outflows will be recouped by the Company through reimbursements from managed properties. The loan is for a fixed interest rate of 5.875% with monthly payments of $3,855 and matures in June 2020. The outstanding balance of this loan was $126,854 and $145,892 as of June 30, 2017 and December 31, 2016, respectively.

In March 2016, the Company received a loan of $40,178 to finance the purchase carts for one of its managed properties. The loan is secured by the equipment purchased. The loan is for a fixed interest rate of 4.43% with monthly payments of $749 and matures in March, 2021. The outstanding balance of this loan was $30,960 and $37,919 as of March 31, 2017 and December 31, 2016, respectively.

CASTLE GROUP INC 10-Q