NOTE 4 - SIGNIFICANT TRANSACTIONS WITH RELATED PARTIES	6 Months Ended
Jun. 30, 2015
Note 4 - Significant Transactions With Related Parties
NOTE 4 - SIGNIFICANT TRANSACTIONS WITH RELATED PARTIES	NOTE 4 – SIGNIFICANT TRANSACTIONS WITH RELATED PARTIES The following is a summary of significant related party transactions during the three and six months ended June 30, 2015 and 2014. Summary of Related Party Obligations The Company has $737,163 and $676,913 of the debenture series are held by related parties as of June 30, 2015 and December 31, 2014, respectively. It also has $52,500 of convertible promissory notes that are held by a related party as of June 30, 2015 and December 31, 2014. The Company has accrued interest of $60,746 and $25,137 due to related parties as of June 30, 2015 and December 31, 2014. Interest expense incurred by the Company associated with these related party obligations was $20,557 and $35,608 for the three and six month period ended June 30, 2015 and $4,048 and $8,097 for the three and six month period ended period ended June 30, 2014. Transactions with Officers – The Company’s CEO and CFO, Nicole Fernandez-McGovern, is one of the managing principals of both RCM Financial, a financial consulting firm, and Premier Financial Filings, a full-service financial printer; companies which have provided contracted financial services to Trunity. For the six months ended June 30, 2015 and 2014, RCM Financial provided outside accounting and tax professional services to Trunity, which resulted in fees of $3,178 and $9,257, respectively. Premier Financial Filings provided services to the Company resulting in fees of $5,995 and $5,873, respectively for the six months ended June 30, 2015 and 2014. During the six months ended June 30, 2015, Ms. Fernandez-McGovern was issued, in exchange for $30,000 of consideration, Series F Convertible Debentures resulting in 30,000 warrants at $0.15 being issued to her. Ms. Fernandez- McGovern is also the holder of a Series D Convertible Debenture and July 2014 Convertible Promissory Note in the principal amount of $42,822 issued in exchange for $42,500 of consideration. See Note 5 for further details of the terms of the debentures and promissory note. The Company’s Chief Education Officer, Cutler Cleveland, currently authors on the Trunity eLearning Platform. In his capacity as an author, he has accrued royalties for the six months ended June 30, 2015 and 2014 of $4,986 and $9,485, respectively. At June 30, 2015, the Company’s Chief Technology Officer, Joakim Lindblom, is the holder of a Series D Convertible Debenture in the principal amount of $92,106 issued in exchange for $81,270 of consideration. See Note 5 for further details of the terms of the debenture. Transactions with Board Members – An investment of $100,000 was made by a board member and founder, Les Anderton, during the six months ended June 30, 2015, for a Series F Convertible Debenture, resulting in 100,000 warrants at $0.15. In addition, Mr. Anderton is the holder of $280,053 of Series E Convertible Debentures, Series D Convertible Debenture and July 2014 Convertible Promissory Note issued to him in exchange for $265,370 of consideration. See Note 5 for further details of the terms of the debentures and promissory note. In exchange for $10,000 of consideration, board member Ivan Berkowitz is a holder of a July 2014 Convertible Promissory Note. See Note 5 for further details of the terms of this promissory note. Credit Agreements Effective January 1, 2015, Les Anderton provided a new $1.5 million line of credit, at a 10% interest rate, to the Company on the same terms as in his prior credit agreement with a maturity date of the earlier of December 31, 2015 or the closing of a Company financing with gross proceeds of at least $5 million. The line of credit will be used to fund working capital needs. No draws have been made on the line of credit.

NOTE 4 - SIGNIFICANT TRANSACTIONS WITH RELATED PARTIES

6 Months Ended

Jun. 30, 2015

Note 4 - Significant Transactions With Related Parties

NOTE 4 - SIGNIFICANT TRANSACTIONS WITH RELATED PARTIES

NOTE 4 – SIGNIFICANT TRANSACTIONS WITH RELATED PARTIES

The following is a summary of significant related party transactions during the three and six months ended June 30, 2015 and 2014.

Summary of Related Party Obligations

The Company has $737,163 and $676,913 of the debenture series are held by related parties as of June 30, 2015 and December 31, 2014, respectively. It also has $52,500 of convertible promissory notes that are held by a related party as of June 30, 2015 and December 31, 2014. The Company has accrued interest of $60,746 and $25,137 due to related parties as of June 30, 2015 and December 31, 2014.

Interest expense incurred by the Company associated with these related party obligations was $20,557 and $35,608 for the three and six month period ended June 30, 2015 and $4,048 and $8,097 for the three and six month period ended period ended June 30, 2014.

Transactions with Officers – The Company’s CEO and CFO, Nicole Fernandez-McGovern, is one of the managing principals of both RCM Financial, a financial consulting firm, and Premier Financial Filings, a full-service financial printer; companies which have provided contracted financial services to Trunity. For the six months ended June 30, 2015 and 2014, RCM Financial provided outside accounting and tax professional services to Trunity, which resulted in fees of $3,178 and $9,257, respectively. Premier Financial Filings provided services to the Company resulting in fees of $5,995 and $5,873, respectively for the six months ended June 30, 2015 and 2014.

During the six months ended June 30, 2015, Ms. Fernandez-McGovern was issued, in exchange for $30,000 of consideration, Series F Convertible Debentures resulting in 30,000 warrants at $0.15 being issued to her. Ms. Fernandez- McGovern is also the holder of a Series D Convertible Debenture and July 2014 Convertible Promissory Note in the principal amount of $42,822 issued in exchange for $42,500 of consideration. See Note 5 for further details of the terms of the debentures and promissory note.

The Company’s Chief Education Officer, Cutler Cleveland, currently authors on the Trunity eLearning Platform. In his capacity as an author, he has accrued royalties for the six months ended June 30, 2015 and 2014 of $4,986 and $9,485, respectively.

At June 30, 2015, the Company’s Chief Technology Officer, Joakim Lindblom, is the holder of a Series D Convertible Debenture in the principal amount of $92,106 issued in exchange for $81,270 of consideration. See Note 5 for further details of the terms of the debenture.

Transactions with Board Members – An investment of $100,000 was made by a board member and founder, Les Anderton, during the six months ended June 30, 2015, for a Series F Convertible Debenture, resulting in 100,000 warrants at $0.15. In addition, Mr. Anderton is the holder of $280,053 of Series E Convertible Debentures, Series D Convertible Debenture and July 2014 Convertible Promissory Note issued to him in exchange for $265,370 of consideration. See Note 5 for further details of the terms of the debentures and promissory note.

In exchange for $10,000 of consideration, board member Ivan Berkowitz is a holder of a July 2014 Convertible Promissory Note. See Note 5 for further details of the terms of this promissory note.

Credit Agreements

Effective January 1, 2015, Les Anderton provided a new $1.5 million line of credit, at a 10% interest rate, to the Company on the same terms as in his prior credit agreement with a maturity date of the earlier of December 31, 2015 or the closing of a Company financing with gross proceeds of at least $5 million. The line of credit will be used to fund working capital needs. No draws have been made on the line of credit.

- 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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