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Accrued Liabilities To Related Parties
9 Months Ended
Sep. 30, 2011
Notes to Financial Statements 
Accrued Liabilities To Related Parties

6. ACCRUED LIABILITIES TO RELATED PARTIES

 

As of September 30, 2011 and December 31, 2010: (1) $37,916 of fees accrued to Board of Director member Stephen Sperco ($17,499) and former Board of Director member Dale Geary ($20,417) and (2) $6,000 of accrued vehicle allowances to Stephen Sperco are included under the caption accrued liabilities to related parties totaling $287,761 and $70,481, respectively on the balance sheet. As of September 30, 2011 and December 31, 2010, accrued interest on the note payable to related party of $243,845 and $26,565, respectively are included under the caption accrued liabilities to related parties totaling $287,761 and $70,481, respectively on the balance sheet.