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Related Party Transactions
12 Months Ended
Dec. 31, 2016
Related Party Transactions  
Related Party

11.

Related Party Transactions


The Company compensates its board members. Board members received between approximately $61,000 and $118,000 and $40,000 and $43,750 for services rendered during 2016 and 2015, respectively.


The Company had a related party payable balance of $0 as of December 31, 2016 and 2015.


The Company had a related party receivable balance of $103,017 and $58,017 as of December 31, 2016 and 2015, respectively. This related party receivable reflects a percent of labor that the Company’s former Chief Scientific Officer, Dr. Schreiber performed on behalf of the Company’s former subsidiary Pelican, Inc. Subsequent to year end, the Company entered into an agreement to purchase 80% of the outstanding stock of Pelican, Inc. on a fully diluted basis.