Subsequent Events

12 Months Ended

Dec. 31, 2013

Subsequent Events [Abstract]

Subsequent Events

Note 13. Subsequent Events

In January 2014, the Company issued 25,177 shares of common stock in lieu of $222,000 of the dividends accrued at year end. The remaining accrual will be paid when the Company has sufficient cash flows as determined by the board of directors.

On February 14, 2014, the Company entered into a line of credit with Banyan Holdings in the amount of $200,000 at an annual interest rate of 10%. In addition the Company agreed to issue shares of stock as an incentive to enter into the note at a ratio of 110 shares for every $1,000 drawn on the line of credit. On February 14, 2014, the Company drew $50,000 and agreed to issue 5,500 shares of common stock to Banyan Holdings. These shares were issued on February 26, 2014. The loan proceeds received were used to fund working capital requirements.