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• <br /> CHI-ADA CORPORATION <br /> NOTES TO FINANCIAL STATEMENTS <br /> FOR THE YEAR ENDED DECEMBER 31, 2014 <br /> Property Plant and Equipment <br /> Equipment and the related estimated useful lives of December 31, 2014, are as follows: <br /> Estimates <br /> Useful Lives Amounts <br /> Automobile 5.0 years 211,626 <br /> Building 39.5 years 402,799 <br /> Furniture and Equipment 5.0 years 108,709 <br /> Less Accumulated Depreciation (308.140) <br /> $414,924 <br /> Bid Bond Deposit <br /> Bid Bond Deposit represents amounts deposited in escrow into prospective clientele as <br /> collateral for job performed. After substantial performance of the job the amount is then <br /> refunded to Chi-Ada Corporation. <br /> Loan from Shareholder <br /> Amount owed to shareholder at the end of December 31, 2014 was $312,942. The loan <br /> does not carry a maturity date and there is no interest charged on the loan by shareholder. <br /> Concentration of Credit Risk <br /> CM-Ada Corporation maintains its cash account at a federally insured financial institution <br /> in Miami-Dade County; Florida. The balances, at times, may exceed federally insured <br /> limits. At December 31, 2014, the Company did not have cash on deposit, at a financial <br /> institution that exceeds the federal insured limit of$250,000. <br /> Approximately 99% of the company's revenue in 2014 is derived from government <br /> agencies in South Florida. <br /> 9 <br />