4. Lines of Credit (Tables)

9 Months Ended

Sep. 30, 2015

Debt Disclosure [Abstract]

Lines of Credit

Creditor		Interest Rate	Borrowing Limit		Repayment Terms	Amount Outstanding		Accrued Interest		Total		Security	Purpose
	Chairman	1% per Month	$	7,000,000	Due on Demand	$	6,234,722	$	1,434,031	$	7,668,753	General Security over Assets	General Corporate Requirements
	Wife of Chairman	1% per Month	$	2,000,000	Due on Demand		2,000,000		957,718		2,957,718	General Security over Assets	General Corporate Requirements
	Total					$	8,234,722	$	2,391,749	$	10,626,471

On May 29, 2015, the Company and its Chairman agreed to amend the existing line of credit agreement between the two parties to increase the borrowing limit on the line of credit provided to the Company from $5,500,000 to $7,000,000. All other terms and conditions remain unaltered.

As of December 31, 2014, the Company had lines of credit as follows:

Creditor		Interest Rate	Borrowing Limit		Repayment Terms	Amount Outstanding		Accrued Interest		Total		Security	Purpose
	Chairman	1% per Month	$	5,500,000	Due on Demand	$	5,097,273	$	923,374	$	6,020,647	General Security over Assets	General Corporate Requirements
	Wife of Chairman	1% per Month	$	2,000,000	Due on Demand		2,000,000		777,718		2,777,718	General Security over Assets	General Corporate Requirements
	Total					$	7,097,273	$	1,701,091	$	8,798,364