DUE TO OFFICERS/STOCKHOLDERS

12 Months Ended

Dec. 31, 2015

Notes to Financial Statements

DUE TO OFFICERS/STOCKHOLDERS

On February 27, 2014, one stockholder who had resigned in March 2013 agreed to release the Company from its $247,021 loan obligation to him which was recorded as forgiveness of debt income in the accompanying consolidated statements of operations for the year ended December 31, 2014. On February 25, 2015, one stockholder agreed to release the Company from its $25,555 loan obligation to him which was recorded as forgiveness of debt income for the year ended December 31, 2015 (see Note 15).