Royalties

9 Months Ended

Sep. 30, 2013

Royalties Disclosure [Abstract]

Royalties Disclosure [Text Block]

5.

Royalties

The Company is subject to a royalty agreement based upon sales of certain skin care products. The agreement requires the Company to pay a royalty based upon 8% of such sales, up to $227,175. Royalty expense approximated $5,000 and $10,000 for the three month periods ended September 30, 2013 and 2012, respectively. Royalty expense approximated $40,000 and $35,000 for the nine month periods ended September 30, 2013 and 2012, respectively. The remaining commitment at September 30, 2013, is approximately $75,000. The Company’s President has a 60% interest in the royalties.

At September 30, 2013 and December 31, 2012, included in accounts payable and accrued expenses was $114,000 and $96,000, respectively, in regards to this agreement.

In addition, in June 2013 the Company entered into a royalty agreement with a consultant which provided for a fee of 2% of sales as defined. At September 30, 2013 no amounts have been earned under this agreement.