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DEFERRED SALARIES
3 Months Ended
Mar. 31, 2013
Notes to Financial Statements  
7. DEFERRED SALARIES

The Company has accrued salaries owed to four individuals. Three of the individuals' employment contracts are expired. All balances due are fixed without any interest or other escalating cost. The Company does not expect to make any payments on these deferred wages during the next twelve months, but the balances are classified as current liabilities.

 

Deferred wages are $961,048 and $945,298 as of March 31, 2013 and December 31, 2012, respectively.