RELATED PARTY TRANSACTIONS

12 Months Ended

Dec. 31, 2015

Notes to Financial Statements

NOTE 14 - RELATED PARTY TRANSACTIONS

During the year ended December 31, 2015 and 2014, certain Company directors personally guarantee the Company's notes payable and its' bank loan (Note 8). Also, certain directors and officers made short-term or longer term loans as discussed in Note 7. Total interest expense in connection with notes payable to related parties and related party line of credits amounted $108,628 and $87,858 for the year ended December 31, 2015 and 2014, respectively (Note 7 and Note 8). 

Progressive Advocates

The Company reimburses the 49% owner (non-controlling interest party) for payroll, marketing and general expenses incurred by Progressive Advocates. For the year ended December 31, 2015 and 2014, the Company reimbursed approximately $3.8 million and $-0- in incurred costs, respectively.