XML 35 R14.htm IDEA: XBRL DOCUMENT v2.4.0.8
Commitments
9 Months Ended
Sep. 30, 2014
Commitments [Abstract]  
Commitments
9.Commitments

In January 2014, the Company entered into a two year lease for office space in Austin, Texas. Lease payments are approximately $3,000 per month through January, 2016.

The Company entered into an “at will” employment agreement with Phillip Roberson as President and CFO for a three year period beginning July 1, 2014, with a beginning base salary of $200,000 annually. As a signing bonus, Mr. Roberson will be entitled to receive 50,000 shares of common stock, of which 10,000 shares were immediately vested. An additional 10,000 shares will be received and vested at the six month, twelve month, eighteen month, and twenty four month anniversary dates of the commencement date. Once the signing bonus grant has been fully vested and paid, Mr. Roberson will be entitled to receive, as part of his annual compensation, on his third anniversary date 5,000 shares, on his fourth anniversary date 6,000 shares, on his fifth anniversary date 7,000 shares, on his sixth anniversary date 8,000 shares, on his seventh anniversary date 9,000 shares, and each annual anniversary date thereafter 10,000 shares. Beginning January 1, 2015, the Board of Directors may in its sole discretion award an annual Performance Based Bonus Award to Mr. Roberson.