XML 21 R9.htm IDEA: XBRL DOCUMENT

4. RELATED PARTY TRANSACTIONS	3 Months Ended
Mar. 31, 2015
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	The Company is indebted to the officers of the Company for unpaid wages and bonuses from previous years that were converted into Notes. The balances at March 31, 2015 and December 31, 2014 are $421,044 to Mr. Reichman and $206,670 to Mrs. Griffin, respectively. The notes bear interest at 5% are due at January 15, 2016 and are unsecured. Due to officers as of March 31, 2015 and December 31, 2014 totals $133,071 and $128,767, respectively. These balances consist of net cash advances, and unpaid expense reimbursements due to David Reichman. The payables and cash advances are unsecured, due on demand and do not bear interest. During the first quarter of 2015 Mr. Reichman advanced $22,804 to the Company to cover operating expenses, and was repaid $18,500. During 2014 Mr. Reichman advanced $127,620, to the Company and was repaid $49,460. At March 31, 2015 and December 31, 2014, the balances due Mr. Reichman are $133,071 and $128,767, respectively. During the 1st quarter 2015 and the year ended December 31, 2014, a board member advanced $5,000 and $31,500, respectively. These totals consist of several small advances, each covered by separate notes that bear interest at 6%, are unsecured, and are due beginning in January 2016 through February 2016. The total notes payable to this board member at March 31, 2015 and December 31, 2014 amount to $86,500 and $81,500, respectively.

4. RELATED PARTY TRANSACTIONS

3 Months Ended

Mar. 31, 2015

The Company is indebted to the officers of the Company for unpaid wages and bonuses from previous years that were converted into Notes. The balances at March 31, 2015 and December 31, 2014 are $421,044 to Mr. Reichman and $206,670 to Mrs. Griffin, respectively. The notes bear interest at 5% are due at January 15, 2016 and are unsecured.

Due to officers as of March 31, 2015 and December 31, 2014 totals $133,071 and $128,767, respectively. These balances consist of net cash advances, and unpaid expense reimbursements due to David Reichman. The payables and cash advances are unsecured, due on demand and do not bear interest. During the first quarter of 2015 Mr. Reichman advanced $22,804 to the Company to cover operating expenses, and was repaid $18,500. During 2014 Mr. Reichman advanced $127,620, to the Company and was repaid $49,460. At March 31, 2015 and December 31, 2014, the balances due Mr. Reichman are $133,071 and $128,767, respectively.

During the 1st quarter 2015 and the year ended December 31, 2014, a board member advanced $5,000 and $31,500, respectively. These totals consist of several small advances, each covered by separate notes that bear interest at 6%, are unsecured, and are due beginning in January 2016 through February 2016. The total notes payable to this board member at March 31, 2015 and December 31, 2014 amount to $86,500 and $81,500, respectively.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References + Details