2.4.0.8000140 - Disclosure - RELATED PARTY TRANSACTIONStruefalsefalse1false falsefalseD130101_130630http://www.sec.gov/CIK0001167905duration2013-01-01T00:00:002013-06-30T00:00:001true 1fil_RELATEDPARTYTRANSACTIONSAbstractfil_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsexbrli:stringItemTypestringfalse0RELATED PARTY TRANSACTIONS:2false 2us-gaap_RelatedPartyTransactionsDisclosureTextBlockus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<pre>9. RELATED PARTY TRANSACTIONS</pre><pre>Related  parties are natural  persons or other  entities  that have the ability,</pre><pre>directly  or  indirectly,  to  control  another  party or  exercise  significant</pre><pre>influence  over the other party in making  financial  and  operating  decisions.</pre><pre>Related parties include other parties that are subject to common control or that</pre><pre>are subject to common significant influences.</pre><pre>DUE FROM FACTOR</pre><pre>AWWT, BPI & Tyree have entered into discount factoring agreements with a related</pre><pre>party ("Factor"), which shares common ownership and management with the Company,</pre><pre>under which eligible  accounts  receivable will be factored.  The Factor assumes</pre><pre>credit risk for all credit-approved  accounts. The Company pays to the Factoring</pre><pre>a commission on each accounts  receivable  purchased equal to (a) 1% for each 60</pre><pre>days that such accounts  receivable is outstanding  and (b) after the initial 15</pre><pre>day  period,  an  additional  1% for  each 30 days or part  that  such  accounts</pre><pre>receivable  is  outstanding.  The Company  can request  advances of up to 80% of</pre><pre>factored  accounts  based on the  customer  credit  limit under the terms of the</pre><pre>factor  agreements  which controls the activity under the agreement.  The factor</pre><pre>agreement  is secured  by the  eligible  accounts  receivable.  The factor  fees</pre><pre>amounted  to  $124,013  and $0 for the six months  ended June 30, 2013 and 2012,</pre><pre>respectively.</pre><pre>LOANS PAYABLE</pre><pre>Loans from a related party consist of the following at:</pre><pre>                                                   June 30,         December 31,</pre><pre>                                                     2013               2012</pre><pre>                                                  ----------         ----------</pre><pre>Loan and  security  agreement  with  Capstone</pre><pre>Capital Group,  LLC which expires on November</pre><pre>1, 2013  bearing  interest  at 18% per annum.</pre><pre>Maximum borrowing of $4,000,000                   $3,662,306         $  764,799</pre><pre>Loan and  security  agreement  with  Capstone</pre><pre>Capital  Group,  LLC which expires on May 15,</pre><pre>2015  bearing  interest  at  18%  per  annum.</pre><pre>Maximum borrowing of $1,000,000                      512,270            473,820</pre><pre>Loan  and  security  agreement  with  Stephen</pre><pre>Tyree  which  expires  on  November  5,  2014</pre><pre>bearing interest at 5.0% per annum.                   15,264             50,417</pre><pre>                                                  ----------         ----------</pre><pre>Total  loans and  amounts  payable to related</pre><pre>parties                                           $4,189,840         $1,289,036</pre><pre>                                                  ==========         ==========</pre><pre>Interest  expense for these loans  amounted to $237,014 and $165,879 for the six</pre>months ended June 30, 2013 and 2012, respectively.falsefalsefalsenonnum:textBlockItemTypenaThe entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39603-107864 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39622-107864 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph b -Article 3A Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(k)) -URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Paragraph k -Article 4 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39691-107864 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39678-107864 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 57 -Paragraph 1-4 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. false0Related Party TransactionsfalseRELATED PARTY TRANSACTIONSUnKnownUnKnownUnKnownUnKnowntruefalsefalseSheethttp://www.amincor.com/20130630/role/idr_DisclosureRELATEDPARTYTRANSACTIONS12