Note 6 - Accrued Expenses and Other Current Liabilities

9 Months Ended

Sep. 30, 2013

Notes

Note 6 - Accrued Expenses and Other Current Liabilities

NOTE 6 – ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

Accrued expenses and other current liabilities are primarily comprised of (1) non-interest bearing advances from unrelated parties used for working capital purposes and payable on demand, (2) accruals for professional fees that have not yet been billed and office rent that has not yet paid, (3) accrued salaries and employees’ benefits, and (4) taxes payable.  The components of accruals and other current liabilities at September 30, 2013 and December 31, 2012 were as follows: 

	September 30, 2013	December 31, 2012
Advances payables	$      388,031	$      273,994
Accrued expenses	73,113	97,276
Accrued salaries and employees' benefits	45,809	51,971
Taxes payable	7,265	357
Accrued expenses and other current liabilities	$      514,218	$      423,598