NOTE 7 - RELATED PARTY TRANSACTIONS

3 Months Ended

Mar. 31, 2015

Debt Disclosure [Abstract]

NOTE 7 - RELATED PARTY TRANSACTIONS

NOTE 7 – 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
Saeed Kharazmi	Chairman of the Board, Acting Chief Financial Officer and greater than 10% shareholder
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 amounts were owed to related parties at the dates indicated:

	March 31, 2015		December 31,  2014
ASP	$	13,326	$	45,000
MAK		-		40,084
Ali Kharazmi		12,000		37,000
Accounts payable - Related Parties	$	25,326	$	122,084

The amount owed to ASP at March 31, 2015 of $13,326 relates to legal and administrative services provided by ASP employees to the Company. Prior to December 31, 2014, all managerial, legal and administrative services were provided to the Company by related parties, free of charge. The amounts owed to Ali Kharazmi and all amounts outstanding at December 31, 2014 represent advances which bear no interest and are due on demand.

The following sales were generated from related parties during the periods indicated:

	Three Months Ended March 31,
	2015		2014
ASP	$	-	$	20,000
Related Party Sales included in Total Sales	$	-	$	20,000

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 have begun minimizing these services to ASP in 2015. The transactions entered into during the three months ended March 31, 2014 are on terms no more favorable than between two parties at an arm’s length.

Beginning on December 1, 2014 the Company sublet office space from ASP as discussed further in Note 8. Prior to December 1, 2014, the Company utilized corporate office space at ASP, free of charge.

Messrs. Ali and Saeed Kharazmi, our CEO and our Acting CFO, respectively, have been foregoing salaries since the Company was incorporated in 2006.