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Related Party Disclosures
9 Months Ended
Sep. 30, 2016
Related Party Disclosures:  
Related Party Transactions Disclosure

Related Party Transactions

 

The Company operates at no cost from office space that CWC leases from 13101 Preston Road, LP. Trusts managed by the control party of the Company’s largest shareholder along with trusts controlled by the family of the Company’s CEO own the building from which the Company currently operates. The lease expired on January 31, 2016 and CWC paid $0 and $7,500 in rent during the three-month periods ended September 30, 2016 and 2015, respectively; CWC paid $2,500 and $22,500 in rent during the nine-month periods ended September 30, 2016 and 2015, respectively.  As of September 30, 2016, the Company had recorded a liability of $17,500 for unpaid rent on its office space.