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Contracts Payable
3 Months Ended
Mar. 31, 2013
Contracts Payable

6.    Contracts Payable

The Company entered into a consulting contract for financing, structure, and investor services on March 2, 2010 for 800,000 shares of Common Stock valued at $500,000. The contract was for a period of three years and the fair value of the services were amortized ratably over the service period. Accordingly, the Company recognized a charge to investor relations expense of $41,667 and $27,778 for the quarters ended March 31, 2012 and 2013, respectively.