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Note 3 - Related Party Transactions
3 Months Ended
Dec. 31, 2019
Notes to Financial Statements  
Related Party Transactions Disclosure [Text Block]
3
.
Related Party Transactions
 
On
January 3, 2012,
we entered into a perpetual license agreement (the “Perpetual License”) with Mastermind Marketing, Inc. (the “Licensor”), which provides for licenses of trademarks, internet domains, and certain intellectual property as defined in the Perpetual License. The Licensor is
one
of our stockholders and its chief executive officer. The Perpetual License, which
may
be terminated at any time by either party, is effective
January 3, 2012
and provides for aggregate payments of
$2,100,000
over the calendar years from
2019
through
2039
with
no
further payments required after
December 31, 2039.
During the
three
months ended
December 31, 2019
and
2018,
no
license fee payments were made. As of
December 31, 2019
and
September 30, 2019,
there were
no
license fee payments required or payable.
 
On
January 3, 2014,
we entered into a commercial lease agreement (the “Lease”) with
1450
West Peachtree, LLC, a Georgia limited liability company (the “Landlord”), for the lease of our corporate facility in Atlanta, Georgia. The manager of the Landlord is also our chief executive officer. The term of the lease is
10
years from the date of the agreement and provides for monthly rent and payment of operating expenses on a triple-net basis. The monthly rent terms of the lease have been altered by the landlord due to another tenant occupying space the Company verbally agreed to allow the landlord to remove from the space available to the company. In satisfaction of our obligation to the Landlord pursuant to the Lease, we made lease payments of
$30,000
and
$30,000
during the
three
months ended
December 31, 2019
and
2018,
respectively.
 
During the
three
months ended
December 31, 2019
and
2018,
we made payments to our Majority Stockholders pursuant to the terms of an operating agreement, as amended, for services rendered to us in the aggregate amount of
$250,225
and
$373,120,
respectively. As of
December 31, 2019
and
September 30, 2019,
we had
no
obligations payable to our
three
majority stockholders for consulting services.