Related Party Transactions

12 Months Ended

Dec. 31, 2015

Related Party Transactions [Abstract]

Related Party Transactions

Note 10 - Related Party Transactions

Advances from Related Party

From time to time, the former CEO of the Company and a shareholder advanced funds to the Company for working capital purpose. Those advances are unsecured, non-interest bearing and due on demand.

Advances from the former CEO and shareholder consisted of the following:

	December 31, 2015		December 31, 2014
Advances from former Chairman, Chief Executive Officer and Stockholder	$	30,567	$	110,847
	$	30,567	$	110,847

Accrued Payroll

Pursuant to a September 2010 employment agreement with our former Chief Executive Officer, at December 31, 2015 and December 31, 2014, the Company had accrued payroll of $125,000 and $150,000, respectively, under this agreement.

Compensation Costs

During the year ended December 31, 2015, the Company recorded stock based compensation expense in the aggregate of $1,437,000 to account for the fair value of the 600,000 shares of common stock and warrants to purchase 900,000 shares of common stock granted to Mr. Kassar, Chairman of the Board for services rendered. In addition, the Company also paid Mr. Kassar $300,000 for compensation as Chairman of the Board.