NOTE 9 - RELATED PARTY TRANSACTIONS

12 Months Ended

Dec. 31, 2014

Disclosure Text Block [Abstract]

NOTE 9 - RELATED PARTY TRANSACTIONS

NOTE 9 – RELATED PARTY TRANSACTIONS

Parties are considered to be related if one party has the ability to control or exercise significant influence over the other party in making financial and operating decisions.

A related party transaction is considered to be a transfer of resources or obligations between related parties, regardless of whether or not a price is charged.

The following entities have been identified as related parties:

Ali Kharazmi	Chief Executive Officer, President, Board Member and greater than 10% shareholder
Mohammed  Kharazmi	Chairman of the Board, Acting Chief Financial Officer and greater than 10% shareholder
H&K Global Enterprises, Inc	Company with common ownership and management
Genetics Institute of Anti Aging	Company with common ownership and management
Applied M.A.K. Enterprises, Inc (“MAK”)	Company with common ownership and management
Advanced Surgical Partners, LLC (“ASP”)	Company with common ownership and management
Center for Weight Management	Company with common ownership and management
Center for Regenerative Science, Inc	Company with common ownership and management

The following material related party transactions have taken place during the year:

	December 31,
	2014		2013
ASP	$	45,000	$	-
MAK		40,084		-
Ali Kharazmi		37,000		-
Accounts payable - Related Parties	$	122,084	$	-

From time to time, the Company is loaned funds from its various related parties for working capital purposes. These advances bear no interest and are due on demand. The total amounts loaned by ASP and MAK and $25,000 of the amount loaned by Ali Kharazmi have been paid back as of March 28, 2015.

	Year ended December 31,
	2014		2013
ASP	$	481,000	$	135,000
Related Party Sales included in Total Sales	$	481,000	$	135,000

As discussed previously, revenues generated from ASP resulted from NuGene providing Plasma Rich Platelet and Stem Cell injections for orthopedic and plastic surgery procedures to ASP. We provided these services to ASP as we transitioned into the cosmeceutical side of NuGene and expect to minimize these services to ASP in early 2015. The transactions are on terms no more favorable than between two parties at an arm’s length.

The Company subleases office space from ASP as discussed further in Note 12.

The Company does not have employment contracts with its two key employees, the controlling shareholders, who are officers and directors of the Company.