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Note 6 - Related Party Transactions
6 Months Ended
Jun. 30, 2014
Notes  
Note 6 - Related Party Transactions

NOTE 6 – RELATED PARTY TRANSACTIONS

                                                    

At June 30, 2014 and December 31, 2013, $410,543 and $398,112, respectively, was owed to the CEO of Spectral and Akoranga AG, a Swiss Company owned by the CEO of Spectral. Akoranga was formed to facilitate Spectral’s business in Europe. Fees charged for services provided by Akoranga totaled approximately $14,698 and $38,913 for six months ended June 30, 2014 and 2013, respectively.  Fees charged by Akoranga are calculated at 10% of transactions processed by them on behalf of the Company.

 

See Note 3 for an additional transaction with Akoranga.