5. Related Party Transactions	6 Months Ended
Jun. 30, 2017
Notes
5. Related Party Transactions	5. Related Party Transactions: In addition to the related parties notes payable discussed in Note 4, the Company had the following related party transactions. Three of the Company’s officers are deferring compensation for services. At June 30, 2017, the amounts due them are as follows: Eric Jones - $290,000 (December 31, 2016 – $230,000), Jim Collord - $290,000 (December 31, 2016 - $230,000), and Larry Thackery, Chief Financial Officer - $144,500 (December 31, 2016 - $108,500). Compensation expense for services performed by these related parties was $78,000 and $78,000 during the quarters ended June 30, 2017 and 2016, respectively and $156,000 and $153,000 during the six months ended June 30, 2017 and 2016, respectively. The Company engaged Baird Hanson LLP (“Baird”), a company owned by one of the Company’s directors, to provide legal services. Baird had no legal expenses in 2017. Legal expenses of $54,000 were incurred during the six months ended June 30, 2016. At June 30, 2017 and December 31, 2016, the balance due to Baird is $181,313. During 2017, Jim Collord and Eric Jones have advanced funds to the Company for operating expenses. The balances due them on June 30, 2017 were $4,288 and $10,971, respectively, and are included in Accounts payable and other accrued expenses on the consolidated balance sheet.

5. Related Party Transactions

6 Months Ended

Jun. 30, 2017

5. Related Party Transactions:

In addition to the related parties notes payable discussed in Note 4, the Company had the following related party transactions.

Three of the Company’s officers are deferring compensation for services. At June 30, 2017, the amounts due them are as follows: Eric Jones - $290,000 (December 31, 2016 – $230,000), Jim Collord - $290,000 (December 31, 2016 - $230,000), and Larry Thackery, Chief Financial Officer - $144,500 (December 31, 2016 - $108,500). Compensation expense for services performed by these related parties was $78,000 and $78,000 during the quarters ended June 30, 2017 and 2016, respectively and $156,000 and $153,000 during the six months ended June 30, 2017 and 2016, respectively.

The Company engaged Baird Hanson LLP (“Baird”), a company owned by one of the Company’s directors, to provide legal services. Baird had no legal expenses in 2017. Legal expenses of $54,000 were incurred during the six months ended June 30, 2016. At June 30, 2017 and December 31, 2016, the balance due to Baird is $181,313.

During 2017, Jim Collord and Eric Jones have advanced funds to the Company for operating expenses. The balances due them on June 30, 2017 were $4,288 and $10,971, respectively, and are included in Accounts payable and other accrued expenses on the consolidated balance sheet.