Quarterly report pursuant to Section 13 or 15(d)

Related Party Transactions

v2.4.0.8
Related Party Transactions
6 Months Ended
Jun. 30, 2014
Related Party Transactions [Abstract]  
Related Party Transactions

NOTE 10 – RELATED PARTY TRANSACTIONS

 

Consulting agreement

 

As part of consulting agreements, a director provided consulting services to the Company. The Company incurred $55,385 and $120,000, in consulting fees to this director for the three and six-month periods ended June 30, 2014, respectively. The Company incurred $9,231 in consulting fees to this director for the three and six-month periods ended June 30, 2013.

 

Amounts payable under these agreements were $210,212 and $216,000, as of June 30, 2014 and December 31, 2013, respectively.