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Note 13- Related Party Transactions
6 Months Ended
Jun. 30, 2016
Notes  
Note 13- Related Party Transactions

NOTE 13 – RELATED PARTY TRANSACTIONS

 

Certain of the consulting agreements discussed in Note 12 are with related parties.  Related parties consist primarily of our executive officers, directors, significant shareholders and individuals affiliated through family relationships with these individuals.  There was no compensation expense paid in common shares to related parties during the three months and six months ended June 30, 2016 and 2015.

 

We paid consulting and other fees to related parties totaling $45,902 and $38,672 during the three months ended June 30, 2016 and 2015, respectively, and $125,178 and $134,847 during the six months ended June 30, 2016 and 2015, respectively.

 

As of June 30, 2016 and December 31, 2015, we had convertible debentures of $5,000 and $46,600 payable to related parties. The outstanding principal and interest are convertible into shares of our common stock at a conversion prices ranging from $0.06 to $30 per share.

 

Accrued interest payable to these related parties totaled $30,766 and $24,341 at June 30, 2016 and December 31, 2015, respectively.

 

As of June 30, 2016 and December 31, 2015, we had stockholder advances payable to related parties totaling $83,023.