Convertible Notes Payable

–

Related Party.

During the fiscal year ended

December 31, 2016,

a payable in the amount of

$144,426

to Dr. Stephen T. Chen, Chairman, CEO and President of the Company, was exchanged for a convertible promissory note. The note was executed on

January 11, 2016,

is payable on demand, and is unsecured. The interest rate is

.75%,

the Annual Federal Rate (AFR), the rate in effect when the note was made. The Payee, Dr. Chen,

may

convert all or some part of the note to the Maker’s (ABI’s) common voting stock at a conversion price of

$.168

per share.

March 18, 2016,

Dr. Chen purchased a Convertible Promissory Note in the amount of

$262,500

through the Company’s Private Placement Convertible Note Security Offering entitled Private Placement

2016

(previously approved by the ABI Board of Directors on

March 10, 2016).

The note is payable on demand, unsecured, carries interest at the Short Term Annual Federal Rate (AFR) of

.65%

per annum, and is convertible into ABI common stock at a price of

$.1875

per share.

June 30, 2016,

a Convertible Promissory Note in the amount of

$384,555

was issued to Dr. Chen in exchange for the aggregated amounts of

two

existing Notes Payable – Related Party. The Convertible Note is due on demand, is unsecured, bears interest at the Short-Term Applicable Federal Rate of

.64%

per annum, and is convertible into ABI common stock at a stock price of

$.1875

per share.

	June 30, 2017		December 31, 2016
Convertible Note payable – related party	$	144,426	$	144,426
Convertible Note payable – related party		262,500		262,500
Convertible Note payable – related party		384,555		384,555
Convertible Notes payable – related party	$	791,481	$	791,481