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5. Related Party Transactions
12 Months Ended
Dec. 31, 2016
Notes  
5. Related Party Transactions

5.   RELATED PARTY TRANSACTIONS

 

Beginning in January 2016, the salary of the Company’s Chief Executive Officer (“CEO”) has not been paid in full. An amount of $127,500 has been accrued at December 31, 2016 compared to nil at December 31, 2015. An amount of $8,726 was accrued for fees due to the Company’s Chief Financial Officer (“CFO”) at December 31, 2015 and paid during the year ended December 31, 2016. An amount of $35,093 has been accrued for fees at December 31, 2016. These amounts are included in related parties payable. Total expense for the CFO for the years ended December 31, 2016 and 2015 were $45,344 and $54,938, respectively.

 

A total of $88,598 had been accrued for consultants and directors’ fees at December 31, 2015. For the year ended December 31, 2016, the Company paid $9,000, and an additional $35,700 has been accrued for services performed during the period, for a total of $115,298 accrued at December 31, 2016 which is included in accounts payable. Total consultants and directors’ fees for the years ended December 31, 2016 and 2015 were $37,900 and $34,800, respectively.