Related Party Transactions

12 Months Ended

Dec. 31, 2013

Note 10. Related Party Transactions

During the year ended December 31, 2013, the Company was advanced $159,500 from related parties. These advance are payable upon demand and are non-interest bearing.

During the year ended December 31, 2012, the Company was advanced $639,000 from related parties. These advance are payable upon demand and are non-interest bearing.

In 2013 and 2012 the Company recorded interest expense of $97,000 and $231,000, respectively, with a corresponding entry to additional paid in capital as the amounts advanced to the Company did not have a stated interest rate.

- 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.

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